REG-Grand Vision Media: Statement re results and trading update

Grand Vision Media HoldingsAnnouncement

22/12/2021 14:45

22 December 2021

Grand Vision Media Holdings Plc

("GVMH" or the "Company")

Further update on Audit and Interim Results and Trading Update

Following the announcements on 1 July 2021 & 29 October 2021, the Company
continues to work towards the finalisation of its annual report and accounts
for the year ended 31 December 2020 and the interim results for the 6 months
to 30 June 2021.

Unaudited revenue for 12 months ending 31 December 2020 was HKD 5,827K
(audited 2019 : HKD 12,034K) and unaudited revenue for 6 months ending 30 June
2021 was HKD 1,742K (unaudited 2020 : HKD 6,045K).

The Directors of the Company are currently exploring funding options which are
necessary to bolster the financial position of the Company which has been
adversely impacted by the pandemic.  Once this funding is in place the
Company will finalise its accounts on a going concern basis and expect an
unqualified audit report to be obtained.

The outdoor media advertising market continues to be very weak and the new
Omicron strain of COVID-19 is expected to lengthen the recovery profile of the
sector. We continue to explore other opportunities and opportunities
including, but not limited to, the marketing of PPE products although as
previously announced the global logistics crisis is delaying any positive
impact on our cashflow.

The Company continues to be supported by the major shareholders, whilst it
navigates through the uncertainties and disruption caused by COVID-19.

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For more information:

 Grand Vision Media Holdings plc     http://gvmh.co.uk/                                      
 Jonathan Lo, Director               Tel: +44 (0) 20 7866 2145 or info@gvmh.co.uk            
 Alfred Henry Corporate Finance Ltd                                                          
 Nick Michaels / Jon Isaacs          Tel: +44 (0) 20 3772 0021 or enquiries@alfredhenry.com  



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