REG-Grand Vision Media: Final Results

Grand Vision Media HoldingsAnnouncement

28/04/2023 12:45

London, 28 April 2023
FOR IMMEDIATE RELEASE

Grand Vision Media Holdings plc
( “GVMH” or the “Company”)

Audited Final Results

Grand Vision Media Holdings plc announces its audited final results for the
year ended 31 December 2022.

The CEO Report

2022 was another tough year for the Group as Hong Kong and China was still
under the impact of COVID restrictions?With the gradual re-opening of the
borders in Hong Kong and China in latter half of Q1 2023, we are expecting to
resume our normal business starting from Q2 of 2023

Summary of Trading Results

Total revenue for the year was HK$3,974K (2021: HK$3,039K], a rise of 31%
compared to the prior year. This was again adversely impacted from historic
levels due to the ongoing disruption from COVID restrictions, although an
improvement from the prior year.

The total comprehensive loss for the year was HK$5,716K (2021: HK$6,184K). 
Again, this was as a direct result of the reduction is revenues across the
Group resulting from COVID restrictions. Costs have been controlled wherever
possible.

COVID-19 continues to have a significant adverse effect on the Group’s
performance in 2022. China was under very strict lock down rules and
international travel has been practically suspended. 

Cash in hand at the end of the year was HK$258K. The Group continues to manage
its cash within its available resources.

Outlook

With the reopening of the borders, we are also seeing the resumption of
marketing activities targeted at travellers from China.  We  have also 
begun work to resume the projects that were put on hold due to the business
disruption. This includes the new initiative of international brand management
and expansion whereby we help brands expand to new geographies.  We help our
clients develop international expansion strategies and assist in the
implementation covering both direct expansion or via overseas partners and
distributors.

During COVID, we developed new connections in the wholesale and trading
sectors, namely commodities and environmentally friendly products.  We hope
to leverage off these connections in the coming periods.

We are also developing new revenue streams via short video marketing and live
streaming sales on social media platforms such as Tik Tok (Douyin) in China. 
We are also planning to revive the OOH revenue in China and we plan to develop
more interactive marketing campaigns leveraging the cinema space.

These will shortly be available (along with the Company's 2022 Annual Report)
to download on the Company's website at
https://www.gvmh.co.uk/tag/financial-information/.

For more information contact:

 Grand Vision Media Holdings plc Jonathan Lo, Director  gvmh.co.uk/ Tel: +44 (0) 20 7866 2145 or info@gvmh.co.uk  



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