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Public company info - China Digital Culture (Group) Ltd. , 08175.HK
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China Digital Culture (Group) Ltd., 08175.HK - Company Profile
Chairman HSU Tung Chi
Share Issued (share) 2,719,000,000
Par Currency Hong Kong Dollar
Par Value 0.04
Industry Movies & Entertainment
Corporate Profile Business Summary: The Company and its subsidiaries (together, the “Group”) are principally engaged in the business of licensing and sales of entertainment, sports and music content, operating E-sports and webcast celebrity businesses, operating film-based cultural parks and tourism focused projects, planning and design of concerts and providing marketing and promotional services for professional athletes. Performance for the year: For the year ended 31 December 2020, the Group recorded revenue of approximately HK$56,358,000, representing a decrease of approximately 68.9% from approximately HK$181,367,000 for the previous financial year. The Group reported a loss attributable to owners of the Company for the year ended 31 December 2020 of approximately HK$360,414,000 (2019: loss attributable to equity holders of the Company of HK$419,868,000). Business Review： During the year ended 31 December 2020, the Company recorded revenue of approximately HK$56,358,000 (2019: HK$181,367,000) and a loss before taxation of approximately HK$370,415,000 (2019: loss before taxation of HK$441,257,000). The decrease in revenue is primarily attributable to poor market sentiment and economic contraction caused by the COVID-19 pandemic during 2020. SPORTS SEGMENT The sports segment includes the sale of athlete’s agency agreements, licensing and sale of sports content and marketing and promotional activities for professional athletes which are operated by Nova Dragon International Limited (“Nova Dragon”) and Socle Limited (“Socle”). During the year ended 31 December 2020, the sports segment recorded revenue of approximately HK$5,596,000 (2019: HK$32,694,000) and a loss before taxation and unallocated income and expenses of approximately HK$43,186,000 (2019: loss before taxation and unallocated income and expenses of HK$53,403,000). The decrease in revenue is primarily attributable to general economic slowdown in the PRC caused by the COVID-19 pandemic. The sports segment also recorded impairment of goodwill of approximately HK$37,623,000. (2019: HK$52,229,000). Nova Dragon is principally engaged in assisting professional athletes with marketing and promotional activities worldwide. Socle is principally engaged in the business of licensing and sale of sports content and is one of the foremost providers of sports and entertainment content in the PRC. ENTERTAINMENT SEGMENT The entertainment segment includes the licensing and sale of music and entertainment content which is primarily operated by Far Glory Limited (“Far Glory”) and Orient Digital Entertainment Limited (“ODE”), respectively. The entertainment segment also includes the planning and design services for concerts, management and operations of the Group’s E-sports teams and management of the Group’s webcast celebrities. During the year ended 31 December 2020, the entertainment segment recorded revenue of approximately HK$46,757,000 (2019: HK$137,562,000) and a loss before taxation and unallocated income and expenses of approximately HK$283,880,000 (2019: HK$190,678,000). The decrease in revenue was primarily due to poor market sentiment and economic contraction caused by the COVID-19 pandemic. The entertainment segment also recorded impairment of goodwill of approximately HK$86,891,000 (2019: HK$138,852,000). ODE and its subsidiaries are principally engaged in the business of licensing and sale of entertainment content and products such as promotion, sales and distribution of movie and television licensed content worldwide and the management of webcast celebrities. ODE also invests in the production of movies, TV shows and musicals. Far Glory and its subsidiaries are principally engaged in the business of licensing and sale of music content as well as the planning and design of music events. The Group’s E-sports business is primarily operated by Summer Eagle Limited (“Summer Eagle”) and its subsidiaries (“Summer Eagle Group”). Summer Eagle is principally engaged in the management and operations of professional E-sports teams. THEME PARK SEGMENT The theme park segment includes the film-based cultural theme park business and tourism focused projects which is operated by the Dream World Holdings Limited (“Dream World”) and its subsidiaries (collectively, the “Dream World Group”). During the year ended 31 December 2020, the theme park segment recorded a revenue of approximately HK$4,005,000 (2019: HK$11,111,000) and loss before taxation and unallocated income and expenses of approximately HK$6,748,000 (2019: HK$127,908,000). The decrease in revenue was primarily attributable to the decrease in consultancy revenue. The decrease in loss before taxation and unallocated income and expenses from 2019 to 2020 was primarily due to decreased impairment of goodwill. Dream World Group is principally engaged in the management and operations of film-based cultural theme parks and tourism focused projects. Dream World is currently operating the Huaqiao Dream World Movie and Cultural Theme Parks located in the Kunshan Huaqiao Economic Development Zone in the junction of Shanghai and Suzhou of the PRC. Prospects: Looking ahead at the rest of 2021, the Group will continue to expand the E-sports business. Although there is still a possibility of the Coronavirus Disease 2019 (“COVID-19”) causing continued economic downturn in the world, the Group is optimistic that the E-sports industry will continue to grow and prosper in the long-term. The Group will continue to build on the aggressive expansion of the E-sports industry in the PRC and The Group are committed to creating an ecosystem that surrounds the E-sports industry including businesses in education, e-commerce, event operations and real estate development. Finally, on behalf of the Board, The Group would like to express The Group heartfelt thanks to all The Group‘s shareholders, investors and customers for their support, and all members of the Board and staff for their dedication and contribution to the Group.

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