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Public company info - Farnova Group Holdings Limited , 08153.HK

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Farnova Group Holdings Limited, 08153.HK - Company Profile
Chairman GUO Gelin
Share Issued (share) 7,141,000,000
Par Currency Hong Kong Dollar
Par Value 4.0E-4
Industry TV & Broadcasting
Corporate Profile Business Summary: The principal activities of the Group are (i) advertising in Hong Kong and the PRC; (ii) money lending business in Hong Kong; and (iii) securities investments in Hong Kong. Performance for the year: The Group’s revenue for the Year amounted to approximately HK$20.5 million, representing a decrease of 26.8% as compared to that of approximately HK$28.1 million for the Preceding Year. The Group’s loss for the Year decreased by 4.1% to approximately HK$48.7 million, as compared to approximately HK$50.8 million for the Preceding Year. Business Review: Advertising The Group recorded revenue of approximately HK$20.0 million from this operation for the Year, as compared to revenue of approximately HK$27.6 million for the Preceding Year. The decrease was mainly due to the fact that the Group is more focused on the development of advertisement campaign in Hong Kong, as the three television channels of the Group in Hunan were stopped due to some changes in national policies in the PRC. The Group is working with the local media production houses to conduct stage shows within shopping malls in Hong Kong and expands its media resources. The expansion of media resources allow the Group to offer its advertising customers with a wider range of advertising solutions, including various advertising media, forms and formats that cater to different target audiences. Money lending Revenue of approximately HK$534,000 from this operation for the Year, as compared to revenue of approximately HK$438,000 for the Preceding Year. The increase in revenue was mainly due to accumulated unpaid interest incurred with the Preceding Year. As at 31 March 2020, gross loan receivables amounted to Nil (2019: approximately HK$4.4 million). Prospects: Looking ahead, the changes in economic conditions for the Group arising thereof may have impact on the financial results of the Group, the extent of which could not be estimated as at the date of this report. The Group will keep continuous attention on the situation of the COVID-19 and react actively to its impact on the financial position and operating results of the Group. The cultural and media industry throughout the world, and especially in the People’s Republic of China (the “PRC”) is presented with an opportunity. The Company believes that due to the impact on the global business environment, the management will continue to develop solid operating strategies of the Group and explore other investment opportunities with a view to enhancing and improving returns to our stakeholders.

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