Half-year Financial Report
London, 30 September 2026
FOR IMMEDIATE RELEASE
Grand Vision Media Holdings plc
( “GVMH” or the “Company”)
Half Year Report
Grand Vision Media Holdings plc announces its half year report for the six months ended 30 June 2026.
The CEO’s Report
Overview
The overall economy remains volatile although we see some improvements in the local economy. However, our customers are still very cautious on marketing budgets as the global scene remain volatile. We continue to manage costs carefully and considering diversification through strategic partnerships and investments into new domains.
Summary of Trading Results
Revenue in the period was HKD1,063K [2025: HKD1,552K], which represents a decrease of 31.51%. The Group had a loss after tax of HKD2,222K [2025: HKD1,738K]. The Group continued its focus on cost controls whilst exploring alternative revenue streams and new projects.
Outlook
In the first six month of 2026, the economy and global market conditions remain volatile. We continue to manage costs and explore new revenue streams. We intend to re-finance the Group through shareholder loan which provides adequate working capital. We are also seeking new projects to diversify our business to lessen the dependency on local markets.
Responsibility Statement
We confirm that to the best of our knowledge:
a. the condensed set of financial statements has been prepared in accordance with IAS 34 ‘Interim Financial Reporting’;
b. the interim management report includes a fair review of the information required by DTR 4.2.7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six
months of the year; and,
c. the interim management report includes a fair review of the information required by DTR 4.2.8R (disclosure of related parties’ transactions and changes therein).
Cautionary statement
This Interim Management Report (IMR) has been prepared solely to provide additional information to shareholders to
assess the Company’s strategies and the potential for those strategies to succeed. The IMR should not be relied on by
any other party or for any other purpose.
The condensed accounts have not been reviewed by the auditors.
Jonathan Lo
Chief Executive Officer
Date : 29 September 2026
Interim Condensed Statement of Comprehensive Income
Notes
GVMH
6 months Ended
30 June
2026
(unaudited)
GVMH
6 months Ended
30 June
2025
(unaudited)
GVMH
Year End
31 December
2025
(audited)
HK$’000
HK$’000
HK$’000
Turnover
1,063
1,552
3,773
Cost of Sales
(1,102)
(1,099)
(2,991)
Gross (Loss) / Profit
(39)
453
782
Other Income / Expenditure
-
-
-
Administrative expenses
(2,180)
(2,188)
(5,675)
Depreciation
(3)
(3)
(6)
Operating Loss
(2,222)
(1,738)
(4,899)
Finance Cost
-
-
-
Loss before taxation
(2,222)
(1,738)
(4,899)
Tax on ordinary activities
-
-
-
Loss after taxation
(2,222)
(1,738)
(4,899)
Exchange difference arising on Translation
(70)
346
(1,140)
Loss and total comprehensive loss for the period
(2,292)
(1,392)
(6,039)
Loss attributable to:
Equity holders of the Company
(2,033)
(1,773)
(4,833)
Non-controlling interests
(189)
35
(66)
(2,222)
(1,738)
(4,899)
Total comprehensive loss attributable to:
Equity holders of the Company
(2,103)
(1,427)
(5,973)
Non-controlling interests
(189)
35
(66)
(2,292)
(1,392)
(6,039)
Basic and diluted earnings per share (HK$)
5
(0.02)
(0.02)
(0.05)
Interim Condensed Statement of the Financial Position
Notes
GVMH
30 June
2026
(unaudited)
GVMH
30 June
2025
(unaudited)
GVMH
31 December 2025
(audited)
HK$’000
HK$’000
HK$’000
Assets
Non-Current Assets
Property, plant and equipment
2
8
5
Total Non-Current Asset
2
8
5
Current assets
Trade and Other Receivables
878
560
303
Deposits and Prepayments
173
113
179
Cash and Cash Equivalents
132
28
183
Total Current Assets
1,183
701
665
Total Assets
1,185
709
670
Equity and Liabilities
Share Capital
6
14,064
14,064
14,064
Share Premium Account
6
47,020
47,020
47,020
Group Re-organization Reserve
(12,460)
(12,460)
(12,460)
Capital Contribution arising from Shareholder’s Loan
844
844
844
Other Reserve
1,335
1,335
1,335
Exchange Reserve
(1,380)
(1,579)
(1,310)
Non-Controlling Interest
(1,260)
(970)
(1,071)
Accumulated deficit
(108,147)
(103,054)
(106,114)
Total Equity
(59,984)
(54,800)
(57,692)
Liabilities
Non-Current Liabilities
Convertible Bonds
-
6,068
-
Shareholders loans
1,025
803
1,025
Total Non-Current Liabilities
1,025
6,871
1,025
Current Liabilities
Trade and Other Payables
13,593
12,084
12,571
Bank overdraft
-
111
-
Amount Due to Directors
19,583
15,048
17,764
Convertible loans
5,570
-
5,615
Deposits Received
11
8
-
Shareholder loan
21,387
21,387
21,387
Total Current Liability
60,144
48,638
57,337
Total Liabilities
61,169
55,509
58,362
Total Equity and Liabilities
1,185
709
670
Interim Condensed Statement of Changes in Equity
Share capital
Share premium
Reverse Acquisition reserve
Other reserve
Exchange reserve
Capital contribution reserves
Accumulated deficit
Total
Non-controlling interests
Total equity
HK$’000
HK$’000
HK$’000
HK$’000
HK$’000
HK$’000
HK$’000
HK$’000
HK$’000
HK$’000
GVMH PLC
Balance at 31 DECEMBER 2024
14,064
47,020
(12,460)
1,335
(170)
844
(101,281)
(50,648)
(1,005)
(51,653)
Loss for the period
-
-
-
-
-
-
(1,773)
(1,773)
-
(1,773)
Exchange difference arising on Translation
-
-
-
-
(1,409)
-
-
(1,409)
-
(1,409)
Non-Controlling Interest
-
-
-
-
-
-
-
-
35
35
Total comprehensive income
-
-
-
-
(1,409)
-
(1,773)
(3,182)
35
(3,147)
Balance at 30 June 2025
14,604
47,020
(12,460)
1,335
(1,579)
844
(103,054)
(53,830)
(970)
(54,800)
Loss for the period
-
-
-
-
-
-
(3,060)
(3,060)
-
(3,060)
Exchange difference arising on Translation
-
-
-
-
269
-
-
269
-
269
Non-Controlling Interest
-
-
-
-
-
-
-
-
(101)
(101)
Total comprehensive income
-
-
-
-
269
-
(3,060)
(2,791)
(101)
(2,892)
Balance at 31 DECEMBER 2025
14,064
47,020
(12,460)
1,335
(1,310)
844
(106,114)
(56,621)
(1,071)
(57,692)
Loss for the period
-
-
-
-
-
-
(2,033)
(2,033)
-
(2,033)
Exchange difference arising on Translation
-
-
-
-
(70)
-
-
(70)
-
(70)
Non-Controlling Interest
-
-
-
-
-
-
-
-
(189)
(189)
Total comprehensive income
-
-
-
-
(70)
-
(2,033)
(2,103)
(189)
(2,292)
Balance at 30 June 2026
14,064
47,020
(12,460)
1,335
(1,380)
844
(108,147)
(58,724)
(1,260)
(59,984)
Share capital is the amount subscribed for shares at nominal value.
The share premium has arisen on the issue of shares at a premium to their nominal value.
Retained losses represent the cumulative loss of the Company attributable to equity shareholders.
Interim Condensed Cash Flow Statement
GVMH
6 Months Ended 30 June 2026
(unaudited)
GVMH
6 Months Ended 30 June 2025
(unaudited)
GVMH
For the year ended 31 December 2025
(audited)
HK$’000
HK$’000
HK$’000
Cash flows from operating activities
Operating loss
(2,222)
(1,738)
(4,899)
Add: Depreciation
3
3
6
Changes in working capital
(2,219)
(1,735)
(4,893)
Increase in receivables
(575)
(347)
(90)
Decrease in deposits and prepayments
6
79
13
Increase in payables
1,022
1,174
1,661
Increase / (Decrease) in deposit received
11
(65)
(73)
Net cash flow used in operating activities
(1,755)
(894)
(3,382)
Cash flows from financing activities:
Bank overdraft utilised
-
111
-
Increase in an amount due to directors
1,819
1,523
4,239
Net cash generated from financing activities
1,819
1,634
4,239
Net cash outflow for the period
64
740
857
Opening Cash and cash equivalents
183
11
11
Effect on Foreign exchange rate changes
(115)
(723)
(685)
Closing Cash and cash equivalents
132
28
183
Notes to the Interim Condensed Financial Statements
1. General Information
GRAND VISION MEDIA HOLDINGS PLC (‘the Company’) is a media company incorporated in the United Kingdom. Details of the registered office, the officers and advisers to the Company are presented on the Directors and Advisers page at the end of this report. The information within these interim condensed financial statements and accompanying notes must be read in conjunction with the audited annual financial statements that have been prepared for the year ended 31 December 2025.
2. Basis of Preparation
These unaudited condensed consolidated interim financial statements for the six months ended 30 June 2026 were approved by the board and authorised for issue on 29 September 2026.
The basis of preparation and accounting policies set out in the Annual Report and Accounts for the year ended 31 December 2025 have been applied in the preparation of these condensed interim financial statements. These interim financial statements have been prepared in accordance with the recognition and measurement principles of the International Financial Reporting Standards (“IFRS”) as endorsed by the EU that are expected to be applicable to the financial statements for the year ending 31 December 2025 and on the basis of the accounting policies expected to be used in those financial statements.
The figures for the six months ended 30 June 2026 and 30 June 2025 are unaudited and do not constitute full accounts. The comparative figures for the year ended 31 December 2025 are extracts from the 2025 audited accounts. The independent auditor’s report on the 2025 accounts was not qualified.
The assets and liabilities of the legal subsidiary, GVC Holdings Limited are recognized and measured in the Group financial statements at the pre-combination carrying amounts, without restatement of fair value. The retained earnings and other equity balances recognized in the Group financial statements reflect the retained earnings and other equity balances of Grand Vision Media Holdings plc immediately before the reverse and the results of the period from 1 January 2026 to 30 June 2026 and post reverse.
Standards and Interpretations adopted with no material effect on financial statements
There are no other IFRS or IFRIC interpretations that are not yet effective that would be expected to have material impact on the Group.
3. Segmental Reporting
In the opinion of the Directors, the Company has one class of business, being that of out of home media and marketing and operates in the People’s Republic of China/Hong Kong.
4. Company Result for the period
The Company has elected to take the exemption under section 408 of the Companies Act 2006 not to present the parent Company income statement account.
The operating loss of the Company for the six months ended 30 June 2026 was HK$613k (2025:
loss of HK$372k, year ended 31 December 2025: HK$2,091k). The current period operating loss incorporated the following main items:
Company
GVMH
30 June 2026
Company
GVMH
30 June 2025
Company
GVMH
31 December 2025
(unaudited)
(unaudited)
(audited)
HK$‘000
HK$‘000
HK$‘000
Employment expenses
316
301
614
Legal and professional fees
214
71
459
Other expenses
83
-
1,018
Total
613
372
2,091
5. Loss per Share
Loss per share data is based on the Company result for the six months and the weighted average number of shares in issue.
Basic loss per share is calculated by dividing the loss attributable to equity shareholders by the weighted average number of ordinary shares in issue during the period:
GVMH
30 June 2026
(unaudited)
GVMH
30 June 2025
(unaudited)
GVMH
31 December
2025
(audited)
HK$
HK$
HK$
Loss after tax
(2,033,000)
(1,773,000)
(4,833,000)
Weighted average number of ordinary shares in issue
96,287,079
96,287,079
96,287,079
Basic and diluted loss per share
(0.02)
(0.02)
(0.05)
Basic and diluted loss per share are the same, since where a loss is incurred the effect of outstanding share options and warrants is considered anti-dilutive and is ignored for the purpose of the loss per share calculation. There were no potential dilutive shares in issue during the period.
6. Share Capital
Ordinary shares are classified as equity. Proceeds from issuance of ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares are deducted against share capital.
Allotted, called up and fully paid ordinary shares of 10p each
Number of shares
Share Capital
Share
Capital
Share
Premium
Share Premium
£
HK$
£
HK$
Balance at 30 June 2025 (unaudited)
96,287,079
9,628,708
96,017,186
4,422,954
44,105,565
Balance at 31 December 2025 (audited)
96,287,079
9,628,708
96,017,186
4,422,954
44,105,565
Balance at 30 June 2026 (unaudited)
96,287,079
9,628,708
96,017,186
4,422,954
44,105,565
7. Events Subsequent to 30 June 2026
There were no events subsequent to the balance sheet date.
8. Reports
This interim condensed financial statements will be available shortly on the Company website at www.gvmh.co.uk
For more information contact:
Grand Vision Media Holdings plc
Jonathan Lo, Director
Tel: +44 (0) 20 7866 2145
or info@gvmh.co.uk