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Public company info - SMI Culture & Travel Group Holdings Limited , 02366.HK
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SMI Culture & Travel Group Holdings Limited, 02366.HK - Company Profile
Chairman Wu Chien-Chiang
Share Issued (share) 1,579,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Movies & Entertainment
Corporate Profile Business Summary: The Group is principally engaged in the investment in the production and distribution of films, investment in the production and distribution of television dramas and creation, production and distribution of new media contents, production and distribution of online and film advertisements, agency operation for films, directors, scriptwriters and artists, tourism and online ticketing platform operation. Performance for the year: Revenue decreased by 29.4% to approximately HK$46.1 million (2018: approximately HK$65.3 million). Gross profit is approximately HK$9.1 million (2018: Gross loss approximately HK$45.4 million). Loss for the year is approximately HK$215.8 million (2018: Loss for the year was approximately HK$497.3 million). Basic loss per share in 2019 is 16.40 HK cents (2018: 37.79 HK cents). Business Review 2019 was another bumper year for Chinese films, the annual total box office exceeded 64 billion and reached a record high, an increase of 2.8 billion or a net increase of 5.4% compared with the yearly box office in 2018. Among them, the total box office of domestic films was 41,175 million, a year-on-year increase of 8.65%, and the market share was 64.07%. The cinema admission across China reached 1,727 million, and the movie market continued to expand. Although China’s film industry has well developed in various aspects in 2019, such as the remarkable improvement in film creation and the incremental development of the market size, it has overcome huge pressures and difficulties. The growing trade war between China and the US has caused a slowdown in economic growth and the rapid development of online videos and audios such as online films, TV series and short videos have also led to the diversion of certain audiences. The Group’s business development benefited from the prosperity of the Chinese film and television market during the past years. During the Year, the Group continued to focus on film and television investment. The performance of the Group’s main business is expected to continue to develop. Confident about the development of TV plays, the Group also participated in the investment of TV plays. The investment of the 48-episode TV series “Forging Knife 2” is expected to be broadcasted this year. The Group’s film and television investment business comes to fruition. During the Year, in light of the strong consumption market in Mainland China, the Group also actively expanded business in the cultural tourism industry which is favored by the state government, contemplated tourism projects and seek investment targets conducive to the Group’s future growth. Moreover, as to the cultural and entertainment industry, the Group actively expands online ticketing services, including ticket sales for movies, concerts and travels. The business performance has steadily advanced. As a result, the Group’s market share in Mainland China has gradually increased and its overall profitability and prospects have further improved. Television program related business During the year, the Group continued to recognize the income from several fictions editing/publishing rights. Film investment The Group’s business development benefited from the prosperity of the Chinese film and television market. In 2019, the Group continued to focus on film and television investment, the performance of the Group’s main business is expected to continue to develop. Ticketing system and IT technical service Since the acquisition of the business which was engaged in operation of ticketing platform and provision of IT technical service, with the ascending trend of box office, based on the total movie tickets sold for the year ended 31 December 2019, revenue from the Group’s overall online ticketing business increased significantly. Prospects: After the outbreak of the COVID-19 (“COVID-19 Outbreak”) in early 2020, a series of precautionary and control measures have been and continued to be implemented across the country/region. The Group expects that the COVID-19 Outbreak may bring temporary interruption to the business but will not significantly alter the long term business growth. The Group will pay close attention to the development of the COVID-19 Outbreak and continue to evaluate its impact on the financial position and operating results of the Group. Looking forward to the future, the Board of Directors will, on one hand, continue to leverage the advantage of industry resources, actively develop high-quality film and television projects, reinforce the level of investment and keep the release of influential works in the industry to achieve good performance for the Group; on the other hand, under the development blueprint, the Group will continue to expand the revenue sources of IP development, online ticketing services and tourism, enhance the Group’s brand value and improve its strength in resource integration and operation.

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