MEDIALINKGROUP：INTERIMREPORT2025.pdf

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1、Contents目錄2Corporate Information企業資料6Financial Highlights財務摘要8Management Discussion and Analysis管理層討論與分析28Corporate Governance Highlights企業管治摘要33Interim Condensed Consolidated Statement of Profit or Loss中期簡明綜合損益表34Interim Condensed Consolidated Statement of Comprehensive Income中期簡明綜合全面收益表35Interim C

2、ondensed Consolidated Statement of Financial Position中期簡明綜合財務狀況表37Interim Condensed Consolidated Statement of Changes in Equity中期簡明綜合權益變動表38Interim Condensed Consolidated Statement of Cash Flows中期簡明綜合現金流量表40Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註66Other Informat

3、ion其他資料69Definitions釋義75Glossary of Technical Terms技術詞彙2MEDIALINK GROUP LIMITED 2025 Interim ReportCorporate Information企業資料PLACE OF INCORPORATIONCayman IslandsBOARD OF DIRECTORSExecutive DirectorsMs.Chiu Siu Yin LoviniaMs.Chiu Siu Fung NolettaMr.Ma Ching FungNon-executive DirectorMs.Wong Hang Yee,J

4、PIndependent Non-executive DirectorsMr.Fung Ying Wai Wilson,MHMs.Leung Chan Che Ming MirandaMr.Wong Kam Pui,BBS,JPAUDIT COMMITTEEMr.Fung Ying Wai Wilson,MH(Chairman)Ms.Leung Chan Che Ming MirandaMr.Wong Kam Pui,BBS,JPMs.Wong Hang Yee,JPNOMINATION COMMITTEEMs.Chiu Siu Yin Lovinia(Chairman)Mr.Wong Kam

5、 Pui,BBS,JPMs.Leung Chan Che Ming MirandaREMUNERATION COMMITTEEMr.Wong Kam Pui,BBS,JP(Chairman)Mr.Fung Ying Wai Wilson,MHMs.Wong Hang Yee,JP註冊成立地點開曼群島董事會執行董事趙小燕女士趙小鳳女士馬正鋒先生非執行董事黃幸怡女士（太平紳士）獨立非執行董事馮英偉先生（榮譽勳章）梁陳智明女士黃錦沛先生（銅紫荊星章、太平紳士）審核委員會馮英偉先生（榮譽勳章）（主席）梁陳智明女士黃錦沛先生（銅紫荊星章、太平紳士）黃幸怡女士（太平紳士）提名委員會趙小燕女士（主席）黃錦沛

6、先生（銅紫荊星章、太平紳士）梁陳智明女士薪酬委員會黃錦沛先生（銅紫荊星章、太平紳士）（主席）馮英偉先生（榮譽勳章）黃幸怡女士（太平紳士）2025中期報告 羚邦集團有限公司3Corporate Information企業資料AUTHORISED REPRESENTATIVESMs.Wong Hang Yee,JPMr.Ma Ching FungCOMPANY SECRETARYMr.Ma Ching FungREGISTERED OFFICEThird Floor,Century YardCricket Square,P.O.Box 902Grand Cayman,KY1-1103Cayman

7、IslandsHEADQUARTER AND PRINCIPAL PLACE OF BUSINESS IN HONG KONGSuites 18016,18/FTower 2,The GatewayHarbour City25 Canton RoadTsim Sha TsuiKowloonHong Kong授權代表黃幸怡女士（太平紳士）馬正鋒先生公司秘書馬正鋒先生註冊辦事處Third Floor,Century Yard Cricket Square,P.O.Box 902 Grand Cayman,KY1-1103 Cayman Islands 總部及香港主要營業地點 香港九龍尖沙咀廣東道2

8、5號海港城港威大廈2座18樓18016室4MEDIALINK GROUP LIMITED 2025 Interim ReportCorporate Information企業資料PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICETricor Services(Cayman Islands)LimitedThird Floor,Century YardCricket Square,P.O.Box 902Grand Cayman,KY1-1103Cayman IslandsBRANCH SHARE REGISTRAR AND TRANSFER OFFICE

9、IN HONG KONGTricor Investor Services Limited17/F,Far East Finance Centre16 Harcourt RoadHong KongREGISTERED PUBLIC INTEREST ENTITY AUDITORErnst&Young27/F,One Taikoo Place979 Kings RoadQuarry Bay,Hong KongLEGAL ADVISOR AS TO HONG KONG LAWDLA Piper Hong Kong25th FloorThree Exchange Square8 Connaught P

10、laceCentral,Hong Kong股份過戶登記總處 Tricor Services(Cayman Islands)LimitedThird Floor,Century Yard Cricket Square,P.O.Box 902 Grand Cayman,KY1-1103 Cayman Islands 香港股份過戶登記分處 卓佳證券登記有限公司香港夏愨道16號遠東金融中心17樓註冊公眾利益實體核數師 安永會計師事務所香港鰂魚涌英皇道979號太古坊一座27樓香港法律顧問歐華律師事務所香港中環康樂廣場8號交易廣場三期25樓2025中期報告 羚邦集團有限公司5Corporate Infor

11、mation企業資料PRINCIPAL BANKERStandard Chartered Bank(Hong Kong)LimitedLISTING INFORMATIONPlace of ListingThe Stock Exchange of Hong Kong LimitedStock Code2230Board Lot5,000 sharesWEBSITE.hkINVESTOR RELATIONSStrategic Financial Relations LimitedTel:(852)2111 8468Fax:(852)2527 1196E-mail:investor_.hk主要往來

12、銀行渣打銀行（香港）有限公司上市資料上市地點香港聯合交易所有限公司股份代號2230買賣單位5,000股股份網址.hk投資者關係縱橫財經公關顧問有限公司電話(852)2111 8468傳真(852)2527 1196電郵：investor_.hk6MEDIALINK GROUP LIMITED 2025 Interim ReportFinancial Highlights財務摘要Six months ended 30 September截至9月30日止六個月20242023Change2024年2023年變動(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$0

13、00千港元千港元Revenue收益 Media Content Distribution Business 媒體內容發行業務176,969165,450+7.0%Brand Licensing Business 品牌授權業務117,20682,172+42.6%Total總計294,175247,622+18.8%Gross Profit Margin毛利率50.2%49.1%Profit attributable to Shareholders of the Company本公司股東應佔溢利42,39336,198+17.1%Interim dividend per share(1)每股中期

14、股息(1)HK 1.09 centHK 0.89 cent1.09港仙0.89港仙30 September31 March202420242024年2024年9月30日3月31日(Unaudited)(Audited)（未經審核）（經審核）HK$000HK$000千港元千港元Liquidity ratio流動資金比率Current ratio(2)流動比率(2)2.22.6Cash ratio(3)現金比率(3)0.80.7Capital adequacy ratio資本充足比率Debt to equity ratio(4)債務權益比率(4)N/AN/A不適用不適用(1)每股中期股息按中期股息

15、除以於本中期報告日期（2024年11月28日）本公司已發行普通股數目1,992,000,000股計算。(2)流動比率乃按各有關日期的流動資產總值除以流動負債總額計算。(3)現金比率乃按各有關日期的現金及現金等價物除以流動負債總額計算。(4)本集團並無任何計息銀行及其他借貸。因此，債務權益比率不適用。(1)Interim dividend per share was calculated by dividing interim dividend by the number of the Companys ordinary shares of 1,992,000,000 in issue as a

16、t the date of this interim report on 28 November 20024.(2)Current ratio was calculated by dividing the total current assets by the total current liabilities as at the respective dates.(3)Cash ratio was calculated by dividing the cash and cash equivalents by the total current liabilities as at the re

17、spective dates.(4)The Group did not have any interest-bearing bank and other borrowings.Thus,the debt to equity ratio was not applicable.2025中期報告 羚邦集團有限公司7Financial Highlights財務摘要010203040500.00.10.20.30.40.50.60.70.80.91.01.10100200300400500600700Turnover and Gross Proft Margin營業額及毛利率Interim Divide

18、nd per share每股中期股息(HK cent)（港仙）(HK$million)（百萬港元）(HK$million)（百萬港元）2023/241.09Interim 中期0.89Interim 中期2024/25Total Equity權益總額Net Proft純利As at 31 March 2024於2024年3月31日625As at 30 September 2024於2024年9月30日5882024/25Interim 中期422023/24Interim 中期36070140210280350(HK$million)（百萬港元）Turnover營業額Gross Proft

19、Margin(%)毛利率(%)49.1%Turnover and Gross Proft Margin營業額及毛利率50.2%2024/25Interim 中期294025502023/24Interim 中期248Number of Active Titles/Brands Available有效版權可用品牌數目Business SegmentAs at 30 September2024As at31 March2024Change during the period業務分部於2024年9月30日於2024年3月31日期內變動Media Content媒體內容717702+2.1%Brand

20、 Licensing品牌授權410379+8.2%8MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析業務回顧及展望業務回顧實現穩步增長，展現擴張動力內容發行羚 邦 集團 有 限 公司（本公司）及 其 附 屬公司（統 稱 本集團）繼 續優 先 將電 影內容 作 為 其 發 展 的 核心 分 部。隨 著 THE FIRST SLAM DUNK 的成功，本集團以在亞洲表現卓越的動畫電影 劇場版排球少年！垃圾場的決戰 擴展其戲院放映活動。此外，劇場版藍色監獄-EPISODE凪-成功

21、進入中國內地市場。於截至2024年9月30日止六個月（報告期），本集團在亞洲不同地方發行七套動畫電影，包括劇場版排球少年！垃圾場的決戰、機動戰士鋼彈SEED FREEDOM、賽馬娘Pretty Derby：新時代之門、劇場版藍色監獄-EPISODE凪-、我的英雄學院劇場版：YOURE NEXT、派對咖孔明Road to Summer Sonia 及 機動警察劇場版，鞏固本集團在日本動畫電影分部的影響力。除與現有全球平臺合作夥伴（如Netflix及Crunchyroll）緊密合作外，我們亦與負責Ani-One品牌的馬來西亞視頻點播服務平臺Tonton開展全新合作關係。BUSINESS REVIE

22、W AND OUTLOOKBusiness ReviewSteady Growth with Impetus for ExpansionREVENUE 收益18.8%HKD294.2 million 294.2百萬港元MEDIA CONTENT DISTRIBUTION BUSINESS7.0%媒體內容發行業務Revenue 收益：HKD177.0 million 177.0百萬港元BRAND LICENSING BUSINESS42.6%品牌授權業務Revenue 收益：HKD117.2 million 117.2百萬港元NET PROFIT 純利17.1%HKD42.4 million 4

23、2.4百萬港元Content DistributionMedialink Group Limited(the“Company”)and its subsidiaries(collectively,the“Group”)continues prioritising movie content as a core segment of its development.Following the success of“THE FIRST SLAM DUNK”,the Group expanded its theatrical release activities with the anime mov

24、ie:“Haikyu!:The Dumpster Battle”which performed exceptionally well in Asia.Additionally,“BLUE LOCK THE MOVIE-EPISODE NAGI-”successfully entered the Mainland China market.During the six months ended 30 September 2024(the“Reporting Period”),the Group distributed seven anime movies including“Haikyu!:Th

25、e Dumpster Battle”;“Mobile Suit Gundam SEED FREEDOM”;“Umamusume:Pretty Derby Beginning of a New Era”;“BLUE LOCK THE MOVIE-EPISODE NAGI-”;“My Hero Academia:Youre Next”;“Ya Boy Kongming!Road to Summer Sonia”;and“PATLABOR the Movie”in different locations in Asia,solidifying the Groups presence in the J

26、apanese anime movie segment.Other than working closely with existing global platform partners such as Netflix and Crunchyroll,we have also established a new collaboration with a Malaysia VOD platform named Tonton which carries Ani-One brand.2025中期報告 羚邦集團有限公司9Management Discussion and Analysis管理層討論與分

27、析For our Ani-One YouTube,we have developed our channels among Asia.Combining all the channels in Asia,Ani-One YouTube reached more than 6.4 million subscribers and over 1.4 billion accumulated views.Aside from exhibiting content and its content distribution services,Ani-One also produces its own ani

28、me-related creative videos,under the naming“Ani-One 出去玩”and features Key Opinion Leader(“KOL”)broadcast sharing of highlighted anime content shown on the channel,behind-the-scene of a dubbing production of anime contents,dubbing artist interviews,Japanese artist interviews and Virtual Youtuber(“VTub

29、er”)interviews,among others.We have expanded the distribution of Chinese anime across Southeast Asia.Ani-Mi 動漫迷 and Ani-Mi Asia continue to offer Chinese anime to the audiences.These two YouTube channels have grown rapidly and have now reached 93,000 subscribers with 14.8 million accumulated views f

30、or Ani-Mi 動漫迷 and 87,800 subscribers with 11.1 million accumulated views for Ani-Mi Asia.Carrying on with the acquisition of big hit titles of Heaven Officials Blessing and Link Click,Ani-Mi hosted offline events in collaboration with local shopping malls during special occasions,arousing discussion

31、 among the target audience and attracting market attention.Furthermore,the Group enhanced its offerings by acquiring and distributing blockbuster Chinese content for the inventory of the inflight segment.Following“A Guilty Conscience(毒舌大狀)”,the Group distributed“The Goldfinger(金手指)”,starring Tony Le

32、ung and Andy Lau,to various global airlines for their inflight entertainment.The Group aims to deliver exceptional flight viewing experiences by focusing on high-quality movie content.Strategic co-investmentCollaboration in Chinese anime“Nailoong”The Group continues to handle the distribution and br

33、and licensing rights of the Groups investment in a Chinese original animation 奶龍與小七之大戰暴暴龍.The Group has handled numerous licensing cases in various categories including personal care,gift and premium,hospitality and live events,with licensees across Asia.Ani-One YouTube頻道方面，我們已在亞洲發展我們的頻道。綜合所有亞洲頻道，An

34、i-One YouTube已達超過6.4百萬名訂閱者及累計超過14億次播放量。除展 示內容及其內容發行服務外，Ani-One亦製作自己的動畫相關創意視頻，並在 Ani-One出去玩 品牌下提供（其中包括）關鍵意見領袖（KOL）播放分享頻道中展示的重點動畫內容、動畫內容配音製作的幕後花絮、聲優訪談、日本藝人訪談及虛擬Youtuber（VTuber）訪談。我們已擴大在東南亞的中國動畫發行。Ani-Mi動漫迷及Ani-Mi Asia繼續為觀眾提供中國動畫。該兩個YouTube頻道急速增長，Ani-Mi動漫迷現已達93,000名訂閱者及累計14.8百萬次播放量，而Ani-Mi Asia則達87,800

35、名訂閱者及累計11.1百萬次播放量。購入大熱作品 天官賜福 及時光代理人 後，Ani-Mi動漫迷繼續於特定時間與本地商場合作舉辦線下活動，以引起目標受眾討論並吸引市場關注。此外，本集團於發行 毒舌大狀 後購入及發行賣座中文鉅片予航空分部，以加強其機上娛樂的供應。本集團向不同航空公司發行由梁朝偉及劉德華主演的 金手指 作為其機上娛樂。本集團旨在透過專注於優質電影內容以提供卓越的機上觀影體驗。戰略共同投資與中國動畫 奶龍 合作本集團繼續處理本集團所投資的中國原創動畫 奶龍與小七之大戰暴暴龍 的發行及品牌授權權力。本集團已為遍佈亞洲的被授權方處理多項不同類別的授權個案，包括個人護理、禮品及贈品、酒店

36、及現場活動。10MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析Investment in Hong Kong based content production company,S11 Partners LimitedThe Group has completed its share subscription in S11 Partners Limited(“S11”)on 31 May 2024.S11 is an investment the Group has mad

37、e with veteran Chinese-language content producers Cora Yim(嚴嘉念)and Benjamin Lin(林秉聿)in 2024.Cora and Benjamin are the executive producers for the drama program“Taiwan Crime Stories”which won the 58th Golden Bell awards in 2023.Our Group distributed this drama program to the streaming platform Disney

38、+in the same year.The Board expects the Groups investment in S11 will enhance our content production capability and foster the cultivation of creative talents.This investment will also create new growth opportunities in content production and distribution.Acquisition of licensing brandsThe Group has

39、 successfully represented LINE Friends and BT21 for Southeast Asia territories.The Group expects a surge of brand exposure and licensing opportunities for both brands in the coming years.The integration of China and Frances culture-The production of a new Chinese animated film of“Le Petit Prince”The

40、 Group as the exclusive licensing agent of“Le Petit Prince”in the Greater China,Japan and Southeast Asia,has enabled the production of a new Chinese animated film of“Le Petit Prince”to coincide with the 60th Anniversary of China-France Diplomatic Relations.The DAGAY SAINT EXUPERY ESTATE,El Pajaro Pi

41、ctures Shanghai Ltd.Co.(“El Pajaro”)and the Group have entered into a licensing agreement allowing El Pajaro to produce a new animated film in Chinese titled“Le Petit Prince Xiao Wangzi”,all designed and manufactured in China.Expand and continue to develop overseas markets through Intellectual Prope

42、rty(“IP”)management and brand licensingWith a significant expansion in sub-licensing rights on Japanese IPs,the Group has notably enhanced the sales performance of merchandise through self-developed products.The success of these products from Hong Kong and Taiwan has now expanded throughout all of A

43、sia.投資香港影視製作公司S11 Partners Limited本集團已於2024年5月31日完成S11 Partners Limited（S11）的股份認購事項。S11為本集團於2024年與資深華語影視製作人嚴嘉念及林秉聿所作的投資。嚴嘉念及林秉聿為2023年第58屆金鐘獎獲獎戲劇節目 臺灣犯罪故事 的監製。本集團於同年發行該戲劇節目至串流平臺Disney+。董事會預期本集團於S11的投資將加強本集團的影視製作能力及培育新晉創作人才。這項投資將在內容媒體製作及發行方面創造新的增長機遇。購入授權品牌本集團已成功成為LINE Friends及BT21的東南亞地區代理。本集團預期來年兩個品牌的

44、曝光率及授權機遇將大幅提升。中法文化融合 製作 小王子 全新中文版動畫電影作為 小王子 在大中華地區、日本及東南亞的獨家授權代理，為配合中法建交的60周年，本集團已促成 小王子 全新中文版動畫電影的製作。The DAGAY SAINT EXUPERY ESTATE及上海巴哈羅影業有限公司（巴哈羅影業）已與本集團訂立授權協議，授權巴哈羅影業在中國設計及製作全新中文版動畫電影 小王子。透過知識產權（知識產權）管理和品牌授權擴大及持續發展海外市場由於日本知識產權的再授權權力顯著擴大，本集團的商品銷售表現透過自主研發的產品大幅提升。該等產品在香港及臺灣的成功現已擴大至整個亞洲。2025中期報告 羚邦集

45、團有限公司11Management Discussion and Analysis管理層討論與分析Number of active titles of media contents and brands availableAs at 30 September 2024As at 31 March 2024於2024年9月30日於2024年3月31日Number of active titles of media contents available可用的有效媒體內容版權數目717702Number of brands available可用的品牌數目410379BUSINESS OUTLOOK

46、 AND FUTURE PLANSThe Group will build on the depth and breadth of our Media Content Distribution Business and Brand Licensing Business with the following focus areas:Expand our own content distribution platforms through Ani-One and our new channels.Explore new regional platforms to enhance the sales

47、 revenue and to expand more local platforms in India.Active acquisition and distribution of A Grade Series and Movies in Asia.Invest in content production and co-invest in movies.Continue to look for opportunities for joint ventures and invest in companies that would bring value to the business and

48、our shareholders.Expand licensing rights to more regions and continuously seek opportunities to collaborate with global brands on regional or global scale.Expand our product sales and Ani-Mall to other regions.可用的有效媒體內容版權及品牌數目業務展望及未來計劃本集團將建立在我們的媒體內容發行業務及品牌授權業務的深度和廣度之上，重點領域如下：透過Ani-One及全新頻道擴大我們自己的內容發

49、行平臺。探索全新地區平臺以增加銷售收益及擴展更多本地平臺至印度。在亞洲積極收購及發行各類型頂級劇集及電影。投資內容製作及共同投資電影。繼續物色與能為業務及股東帶來價值的公司建立合營企業及投資於該等公司的機會。將 授權權力擴展至更多地區，並不斷尋求機會與區域或全球的國際品牌合作。拓寬產品及將Ani-Mall擴展至其他地區。12MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析FINANCIAL REVIEWRevenueThe following table sets fort

50、h a breakdown of the revenue by business segment during the periods indicated,both in absolute amount and as a percentage of total revenue:For the six months ended 30 September截至9月30日止六個月202420232024年2023年HK$000%HK$000%千港元%千港元%(Unaudited)(Unaudited)(Unaudited)(Unaudited)（未經審核）（未經審核）（未經審核）（未經審核）Media

51、 Content Distribution Business媒體內容發行業務176,96960.2165,45066.8Brand Licensing Business品牌授權業務117,20639.882,17233.2 Total總計294,175100.0247,622100.0 For the six months ended 30 September 2024,the Groups total revenue reached HK$294.2 million,representing a period on period increase of HK$46.6 million or

52、18.8%,due to increased revenue generated from both Media Content Distribution Business and Brand Licensing Business.Media Content Distribution Business contributed 60.2%(six months ended 30 September 2023:66.8%)of the Groups total revenue for the six months ended 30 September 2024.Revenue derived fr

53、om Media Content Distribution Business increased by 7.0%to HK$177.0 million during the Reporting Period,due mainly to the strong revenue from distribution of films during the Reporting Period.Revenue derived from Brand Licensing Business increased by 42.6%to HK$117.2 million during the Reporting Per

54、iod.The increase was mainly due to the growth in revenue from sub-licensing income,which contributed HK$63.9 million for six months ended 30 September 2024,representing an increase of approximately HK$24.3 million or 61.4%as compared with the six months ended 30 September 2023.Besides,there was an i

55、ncrease in the sales of merchandise in various pop-up stores,events and different online sales channels,which contributed revenue of HK$40.5 million for the six months ended 30 September 2024,representing an increase of approximately HK$15.3 million or 61.1%as compared with the six months ended 30 S

56、eptember 2023.財務回顧收益下表載列於所示期間按業務分部劃分的收益分析，當中包括其絕對金額和所佔總收益的百分比：截至2024年9月30日止六個月，本集團總收益為294.2百萬港元，環比增加46.6百萬港元（或18.8%），是由於媒體內容發行業務及品牌授權業務收益均有所增加。媒體內容發行業務佔本集團截至2024年9月30日止六個月總收益的60.2%（截至2023年9月30日止六個月：66.8%）。媒體內容發行業務的收益增加7.0%至報告期內177.0百萬港元。收益增加主要是由於報告期內發行電影強勁的收益所致。品牌授權業務的收益增加42.6%至報告期內117.2百萬港元。增長主要是由於

57、來自品牌再授權的收益增加，截至2024年9月30日止六個月貢獻收益63.9百萬港元，較截至2023年9月30日止六個月相比增加約24.3百萬港元或61.4%。此外，各種快閃店、活動和不同的線上銷售渠道的商品銷售也有所增加，為截至2024年9月30日止的六個月貢獻了40.5百萬港元的收入，較截至2023年9月30日止的六個月相比增加了約15.3百萬港元或61.1%。2025中期報告 羚邦集團有限公司13Management Discussion and Analysis管理層討論與分析Cost of SalesThe Groups cost of sales was primarily roya

58、lty payments to the media content licensors and brand licensors at the mutually agreed royalty rates.The Groups cost of sales increased by HK$20.3 million or 16.1%to HK$146.4 million for the six months ended 30 September 2024.The increase was in line with the increase in revenue.Gross Profit and Gro

59、ss Profit MarginThe Groups gross profit for the six months ended 30 September 2024 amounted to HK$147.8 million,representing an increase of HK$26.3 million or 21.6%as compared to the six months ended 30 September 2023,mainly due to the increase in revenue for the six months ended 30 September 2024 a

60、s compared to the same period of last year.Meanwhile,the Groups gross profit margin increased by 1.1 percentage point from 49.1%for the six months ended 30 September 2023 to 50.2%for the six months ended 30 September 2024,which was mainly attributable to the increase in the distribution of feature f

61、ilms which has relatively higher gross profit margin.Other Income and Gains,netThe Groups other income and gains,net increased by 144.3%to HK$9.3 million for the six months ended 30 September 2024.The increase was mainly due to the increase in bank interest income,government subsidies and interest o

62、n a convertible bond,and foreign exchange gain of HK$3.2 million(six months ended 30 September 2023:nil).Selling and Distribution ExpensesThe Groups selling and distribution expenses for the Reporting Period amounted to HK$60.8 million,representing an increase of HK$24.4 million or 67.1%when compare

63、d to the same period of last year.There were increases in staff costs,expenses for marketing and withholding taxes which is in line with the increase in revenue.General and Administrative ExpensesThe Groups general and administrative expenses for the six months ended 30 September 2024 amounted to HK

64、$27.3 million,representing a decrease of HK$3.3 million or 10.9%when compared to the same period of last year.The decrease was mainly due to the decrease in staff costs during the Reporting Period.銷售成本本集團的銷售成本主要為按與媒體內容授權方及品牌授權方互相協定的版稅率所付之版稅。本集團的銷售成本增加20.3百萬 港 元（或16.1%）至截 至2024年9月30日止六個月146.4百萬港元，增幅與

65、收益增加一致。毛利及毛利率本集團的毛利較截至2023年9月30日止六個月增加26.3百萬港元（或21.6%）至截至2024年9月30日止六個月的147.8百萬港元，主要是由於截 至2024年9月30日止 六個月的收益較去年同期有所增加。此外，本 集團截至2024年9月30日止 六個月的毛利率為50.2%，較截至2023年9月30日止六個月的49.1%上升1.1個百分點，主要是毛利率較高的發行長篇電影增加所致。其他收入及收益淨值本集團的其他收入及收益淨值增加144.3%至截 至2024年9月30日止 六個月9.3百 萬港元，增加的主要原因是銀行利息收入、政府補貼及可換股債券利息收入增加及匯兌收益

66、為3.2百萬港元（截至2023年9月30日止六個月：零）所致。銷售及分銷開支本集團報告期的銷售及分銷開支為60.8百萬港元，較去年同期增加24.4百萬港元（或67.1%）。增長主要來自員工成本、市場廣告費用及預扣稅增加，符合收益增長。一般及行政開支本集團截至2024年9月30日止六個月的一般及行政開支為27.3百萬港元，較去年同期減少3.3百萬港元（或10.9%），主要是由於員工成本於報告期減少所致。14MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析Fair Value

67、Gain on Investment in a Convertible BondThe Group has invested in an unlisted convertible bond due 2026 issued by an independent third party.The fair value of the convertible bond as at 30 September 2024 is estimated to be S$946,000(approximately HK$5,743,000),resulting in a fair value gain of HK$0.

68、4 million credited to profit or loss for the Reporting Period.Other Expenses,NetOther expenses,net for the Reporting Period amounted to HK$22.6 million,representing an increase of HK$5.6 million,primarily owing to the loss on payments to falsified bank accounts,partially offset by the decrease of wr

69、ite-down of licensed rights to net realisable value,the decrease of impairment of trade receivables and increase in write-back of old-aged trade payable during the Reporting Period.These mainly included(i)loss on payments to falsified bank accounts of HK$21.4 million(six months ended 30 September 20

70、23:nil);(ii)a write-down of HK$2.3 million of licensed rights to net realisable value,a decrease of HK$9.4 million compared with the same period of last year,after taking into account the current market conditions and estimated future recoverable amounts in respect of the licensed rights;(iii)nil fo

71、reign exchange loss(six months ended 30 September 2023:loss of HK$4.7 million)resulting mainly from the appreciation of Japanese Yen and Renminbi;(iv)net of impairment and reversal of impairment of trade receivables of HK$0.1 million during the Report Period(six months ended 30 September 2023:HK$0.6

72、 million)after taking into account the aged trade receivable balances and customers that were in financial difficulties;and(v)write-back of long aged trade payable of HK$1.5 million(six months ended 30 September 2023:Nil).Income Tax ExpensesIncome tax expenses for the period amounted to HK$7.6 milli

73、on(six months ended 30 September 2023:HK$5.8 million),representing an effective tax rate(income tax expenses divided by profit before tax)of 15.2%for the period(six months ended 30 September 2023:13.8%).Profit For the Period Attributable to Shareholders of the CompanyAs a result of the foregoing,pro

74、fit for the period attributable to shareholders of the Company increased by HK$6.2 million or 17.1%to HK$42.4 million.Net profit margin of 14.4%was similar to the same period of last year.投資可換股債券的公平值收益本集團已投資由一名獨立第三方發行於2026年到期的非上市可換債券?？蓳Q 股債 券 於2024年9月30日 的 公 平 值 估 計 為946,000新加坡元（約5,743,000港元），導致於報告期錄

75、得公平值收益0.4百萬港元入賬至損益。其他開支淨額其他開支淨額在報告期內為22.6百萬港元，較上年增加5.6百萬港元，主要與報告期內向假冒的銀行賬戶支付的損失有關，惟部份被授權撇減至可變現淨值的減少，應收賬款減值的減少和長賬齡的貿易應付款項的回撥增加所抵消。當中主要包括(i)向假冒的銀行賬戶支付的損失為21.4百萬港元（截至2023年9月30日止六個月：零）、(ii)經考慮當前市況及有關授權的估計未來可收回金額，授權撇減至可變現淨值較去年同期減少9.4百萬港元至2.3百萬港元、(iii)匯兌虧損為零港元（截至2023年9月30日止六個月：虧損4.7百萬港元），主要由於日圓和人民幣升值所致、(i

76、v)經考慮長賬齡的貿易應收款項結餘及有財務困難的客戶，期內貿易應收款項減值 及減值撥回淨額為0.1百萬港元（截至2023年9月30日止六個月：0.6百萬港元）及(v)回撥長期應付賬款的1.5百萬港元（截至2023年9月30日的六個月：無）。所得稅開支期內所得稅開支為7.6百萬港元（截至2023年9月30日止六個月：5.8百萬港元）。期內實際稅率（所得稅開支除以除 稅前溢利）為15.2%（截 至2023年9月30日 止 六 個 月：13.8%）。本公司股東應佔期內溢利 由於上述原因，本公司股 東應佔期內溢利增加6.2百萬港元（或17.1%）至42.4百萬港元。純利率14.4%與去年同期相若。20

77、25中期報告 羚邦集團有限公司15Management Discussion and Analysis管理層討論與分析Intangible assetsIntangible assets comprise media content commercial rights,computer software,brand licensing contracts and ERP system under development.The movements of the intangible assets during the periods are set out below:202420232024

78、年2023年HK$000HK$000千港元千港元(Unaudited)(Unaudited)（未經審核）（未經審核）At 1 April於4月1日8,7008,582Additions添置1432,530Amortisation攤銷(552)(2,753)Exchange realignment匯兌調整84(144)At 30 September於9月30日8,3758,215 Investments in media contentsThe Group has invested in certain media content production projects of which the

79、 Group is guaranteed by the respective media content producers for a fixed rate of return or minimum amount of return after the release of the media contents within the specified periods.In addition,the Group is also entitled to certain distribution rights of related media contents as stipulated in

80、the respective agreements.無形資產無形資產由媒體內容商業 權利、電腦軟件，品牌授權合約組成及開發中的企業資源計劃系統。期內無形資產之變動載列如下：投資媒體內容本集團已投資若干媒體內容製作項目，這令本集團獲各媒體內容製作商保證可於在規定時間內發行媒體內容後獲得固定回報率或最低回報額。此外，本集團亦有權根據各協議的規定獲得相關媒體內容的若干發行權。16MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析期內投資媒體內容之變動載列如下：授權資產授權資產增加4

81、3.2百萬港元或12.0%至於2024年9月30日的403.1百萬港元，其中涉及授權資產預付款項2.9百萬港元（於2024年3月31日：13.3百萬港元），授權期限尚未開始。有關增加主要由於報告期內收購媒體內容發行權，惟部分被授權撇減至可變現淨值及於報告期內確認相關收益後終止確認授權所抵銷。貿易應收款項貿易應收款項減少7.7%，主要由於報告期進行了有效的收款工作。貿易應付款項貿易應付款項增加37.2%，主要因收購授權方授予本集團於明確授權期間有關媒體內容發行權及品牌再授權的權利活動增加所致。The movements of the investments in media contents d

82、uring the periods are set out below:202420232024年2023年HK$000HK$000千港元千港元(Unaudited)(Unaudited)（未經審核）（未經審核）At 1 April於4月1日15,35523,888Additions添置1,894Return of investments投資收回(7,975)Change in fair value公平值變動131769 At 30 September於9月30日15,48618,576 Licensed AssetsThe licensed assets increased by HK$43

83、.2 million or 12.0%to HK$403.1 million as at 30 September 2024,of which HK$2.9 million(as at 31 March 2024:HK$13.3 million)related to prepayments for licensed assets with licence periods which have yet to begin.The increase was mainly due to the acquisition of media content distribution rights,parti

84、ally offset by the write-down of licensed rights to net realisable value and derecognition of licensed rights upon recognition of related revenue during the Reporting Period.Trade receivablesTrade receivables decreased by 7.7%,indicating robust collection efforts during the Reporting Period.Trade pa

85、yablesThe increase in trade payables by 37.2%was mainly due to the increase in acquisition of media content distribution rights and brand sub-licensing rights granted by licensors to the Group over definitive licence periods.2025中期報告 羚邦集團有限公司17Management Discussion and Analysis管理層討論與分析流動資金、財務資源及資本負債

86、比率於2024年9月30日，本集團的現金及現金等價物為356.9百 萬 港 元（於2024年3月31日：235.7百萬港元），其中大部分以美元計值。於2024年9月30日，本集團的流動資產淨值為544.3百 萬 港 元（於2024年3月31日：513.9百萬港元），而本集團的流動比率為2.2倍（於2024年3月31日：2.6倍）。於2024年3月31日及2024年9月30日，本集團並無任何計息銀行及其他借貸。因此，資本負債比率及債務權益比率均不適用於本集團。本集團的經營主要以內部資源（包括但不限於現存現金及現金等價物、預計經營活動所得現金流量及本公司股份於2019年5月21日在聯交所主板上市（

87、上市）所得款項淨額）撥付。憑藉強勁流動資金狀況，本集團可按照業務策略進行擴張。於2024年3月31日及2024年9月30日，本集團並無任何重大或然負債。匯率波動風險及財資政策 本集團大多數交易、資產及負債以美元及港元計值。於回顧期內，並無就對沖目的使用金融工具，且本集團並無承諾使用任何金融工具對沖匯率風險，因為預期匯率風險並不重大。本集團高級管理層將繼續監控外匯風險，並在必要時考慮適用的衍生工具。於2024年9月30日，本集團並無持有任何衍生工具以對沖匯率風險。資本架構本公司股份自2019年5月21日起在聯交所上市。此後本公司資本架構並無變動，且本公司股本僅由普通股組成。於本中期報告日期，本公

88、司已發行1,992,000,000股普通股。LIQUIDITY,FINANCIAL RESOURCES AND GEARING RATIOAs at 30 September 2024,the Groups cash and cash equivalents were HK$356.9 million(as at 31 March 2024:HK$235.7 million),most of which were denominated in US dollars.As at 30 September 2024,the Groups net current assets were HK$544

89、.3 million(as at 31 March 2024:HK$513.9 million),while the current ratio of the Group was 2.2 times(as at 31 March 2024:2.6 times).As at 31 March 2024 and 30 September 2024,the Group did not have any interest-bearing bank and other borrowings.Thus,neither the gearing ratio nor the debt to equity rat

90、io was applicable to the Group.The Groups operations are mainly financed by internal resources including but not limited to existing cash and cash equivalents,anticipated cash flow from its operating activities and the net proceeds generated from the listing of the shares of the Company on the Main

91、Board of the Stock Exchange on 21 May 2019(the“Listing”).With a strong liquidity position,the Group is able to expand in accordance with its business strategy.The Group did not have any significant contingent liabilities as at 31 March 2024 and 30 September 2024.EXPOSURE TO FLUCTUATION IN EXCHANGE R

92、ATE AND TREASURY POLICIESThe majority of the transactions,assets and liabilities of the Group was denominated in United States(“US”)dollars and Hong Kong dollars.During the Period under review,no financial instruments were used for hedging purpose,and the Group did not commit to any financial instru

93、ments to hedge its exposure to exchange rate risk,as the expected exchange rate risk is not significant.The senior management of the Group will continue to monitor the foreign exchange exposure and will consider applicable derivatives when necessary.The Group did not have any derivatives for hedging

94、 against the foreign exchange rate risk as at 30 September 2024.CAPITAL STRUCTUREThe shares of the Company have been listed on the Stock Exchange since 21 May 2019.There has been no change in the capital structure of the Company since then and share capital of the Company only comprises ordinary sha

95、res.As at the date of this interim report,the Company has 1,992,000,000 ordinary shares in issue.18MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析MATERIAL ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES,ASSOCIATES AND JOINT VENTURESThere was no material acquisition o

96、r disposal of subsidiaries,associates and joint venture during the six months ended 30 September 2024.PLEDGE OF ASSETSAs at 30 September 2024,none of the assets of the Group were pledged(as at 31 March 2024:Nil).EMPLOYEESAs at 30 September 2024,our Group had a total of 177 full-time and part-time em

97、ployees(as at 31 March 2024:164 full-time and part-time employees)in Hong Kong,Mainland China,Taiwan,Singapore,Malaysia and Indonesia.REMUNERATION POLICYThe remuneration policy of our Company is reviewed regularly,making reference primarily to the market conditions and performance of our Company and

98、 individual staff(including the Directors).Remuneration package includes,as the case may be,basic salary,contribution to pension schemes,discretionary bonus relating to financial performance of our Group and individual performance.The Company adopted a share award scheme on 6 February 2020.The purpo

99、ses of the share award scheme are to reward the Eligible Persons for their past,present or expected contribution and loyalty to the Group and align their interests with those of the Shareholders through the grant of award shares.The share award scheme is funded solely by the existing shares of the C

100、ompany.The remuneration policy and remuneration packages of the Directors and senior management are reviewed by the Remuneration Committee and the Board,having regard to these individuals experience,duties and responsibilities,performance and achievements.CAPITAL COMMITMENTSAs at 30 September 2024,o

101、ur Group did not have any significant capital commitment(as at 31 March 2024:Nil).重大收購及出售附屬公司、聯營公司及合營企業 截至2024年9月30日止六個月概無重大收購或出售附屬公司、聯營公司及合營企業。抵押資產於2024年9月30日，本集團概無抵押任何資產（於2024年3月31日：零）。僱員於2024年9月30日，本集團在香港、中國內地、臺灣、新加坡、馬來西亞及印尼共有177名全職和兼職僱員（於2024年3月31日：164名全職和兼職僱員）。薪酬政策本公司主要參照市況和本公司與個別員工（包括董事）的表現定期檢

102、討薪酬政策。薪酬待遇包括（視情況而定）基本薪酬、退休金計劃供款以及與本集團財務表現及個人表現掛鈎的酌情花紅。本公司於2020年2月6日採納股份獎勵計劃。股份獎勵計劃旨在獎勵合資格人士過往、現在或預期作出的貢獻以及對本集團的忠誠，並透過授出獎勵股份將彼等及股東的利益保持一致。股份獎勵計劃僅由本公司現有股份撥付。薪酬委員會及董事會基於該等個別人士的經驗、職務與職責、表現及成就檢討董事及高級管理層的薪酬政策和薪酬待遇。資本承擔於2024年9月30日，本集團並無任何重大資本承擔（於2024年3月31日：零）。2025中期報告 羚邦集團有限公司19Management Discussion and An

103、alysis管理層討論與分析SHARE AWARD SCHEMEOn 6 February 2020,the Board adopted the Share Award Scheme.The Scheme was amended by ordinary resolution of the shareholders of the Company on 25 September 2024 such that the Scheme has become a share scheme that is funded only by the existing Shares.9,326,000 award

104、shares have been granted under this Scheme during the Reporting Period.The purpose and the principal terms of the Share Award Scheme are summarised below.1.Purposes of the SchemeThe purposes of the Scheme are to reward the Eligible Persons for their past,present or expected contribution and loyalty

105、to the Group and align their interests with those of the Shareholders through the grant of Award.2.DurationSubject to any early termination by the Board,the Scheme shall be valid and effective for the Award Period,after which no further Awards will be granted,but the provision of the Scheme shall re

106、main in full force and effect to the extent necessary to give effect to the vesting of such Awards granted prior to the expiration of the Scheme or otherwise as may be required in accordance with the provisions of the Scheme Rules.3.AdministrationThe Scheme shall be subject to the administration of

107、the Board in accordance with the Scheme Rules and,where applicable,the Trust Deed.A decision of the Board shall be final and binding on all persons affected thereby.Without prejudice to the Boards general power of administration,to the extent not prohibited by applicable laws and regulations,the Boa

108、rd may also from time to time appoint the Trustee to implement granting,administration or vesting of any Award Shares.4.Operation of the SchemeThe Board may,from time to time at its absolute discretion,select any Eligible Person to be a Selected Participant and grant an Award to such Selected Partic

109、ipant during the Award Period.In determining the Selected Participants,the Board may take into consideration matters including the past,present or expected contribution of the relevant Selected Participants to the Group.Each grant of an Award to any director(excluding independent non-executive Direc

110、tors),senior management,consultant or advisor of the Group shall be subject to the prior approval of the independent non-executive Directors.Where any grant of Award Shares is proposed to be made to any person who is a Connected Person of the Company,the Company shall comply with such provisions of

111、the Listing Rules as may be applicable.股份獎勵計劃2020年2月6日，董 事會 採 納 股 份 獎 勵 計劃。該計劃於2024年9月25日經本公司股東以普通決議案修訂，因此該計劃已成為僅以現有股份提供資金的股份計劃。於報告期間，9,326,000獎勵股份根據該計劃獲授出。股份獎勵計劃目的及主要條款概述如下。1.計劃目的計劃目的在於獎勵合資格人士過往、目前或預期對本集團的貢獻及忠誠，並透過授出獎勵，讓彼等與股東利益與共。2.期限除董事會提早終止外，計劃將於獎勵期有效及生效，其後不再授出獎勵，惟使在計劃屆滿前授出的獎勵可以歸屬，或根據計劃規則的條文而規定的獎

112、勵的歸屬生效，計劃的條文仍應保持完全有效。3.管理計劃由董事會根據計劃規則及（如適用）信託契約管理。董事會的決定為最終定案，對所有相關人士具有約束力。在不減損董事會一般管理權力且相關法律及法規並無禁止的情況下，董事會亦可不時委任受託人授出、管理或歸屬任何獎勵股份。4.計劃的運作於獎勵期，董事會可不時全權酌情挑選合資格人士為指定參與者，並向指定參與者授出獎勵。於決定指定參與者時，董事會的考慮因素包括有關指定參與者過往、目前或預期對本集團所作的貢獻。每次向本集團任何董事（不包括獨立非執行董事）、高級管理人員、顧問或諮詢人授出獎勵須事先獲獨立非執行董事批準。倘本公司擬向本公司關連人士授出獎勵股份，須

113、遵守可能適用的上市規則規定。20MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析在下列任何情況，董事會不得向任何指定參與者授出任何獎勵股份：(a)任何相關監管當局並無授出所需批準；(b)本集團根據相關證券法律、規則或法規須就獎勵或計劃刊發售股章程或其他發售文件；(c)獎勵會導致本集團或其董事違反任何司法權區的任何相關證券法律、規則或法規；(d)授出獎勵會違反計劃上限，而在上述情況進行的授出均屬無效。5.獎勵的時間在下列情況下，不得根據計劃向指定參與者授出獎勵，亦不得指示或建

114、議受託人授出獎勵及或購買股份以授出獎勵：(a)任何董事掌握本公司的未公佈內幕消息，或董事根據任何守則或上市規則規定或任何適用法律、規則或法規而被禁止買賣股份；(b)刊發全年業績日期前60日內或有關財政年度完結日起計至刊發業績當日期間（以較短者為準）；及(c)刊發半年度業績日期前30日內或有關半年度完結日起計至刊發業績當日期間（以較短者為準）。The Board shall not grant any Award Shares to any Selected Participant in any of the following circumstances:(a)where the requis

115、ite approval from any applicable regulatory authorities has not been granted;(b)where the Group will be required under applicable securities laws,rules or regulations to issue a prospectus or other offer documents in respect of such Award or the Scheme;(c)where such Award would result in a breach by

116、 the Group or its directors of any applicable securities laws,rules or regulations in any jurisdiction;(d)where such grant of Award would result in a breach of the Scheme Limit,and any such grant so made shall be null and void to the extent that it falls within the circumstances above.5.Timing of Aw

117、ardsNo Award shall be made to Selected Participants and no directions or recommendation shall be given to the Trustee with respect to a grant of an Award and/or to acquire Shares for the purpose of granting an Award under the Scheme:(a)where any Director is in possession of unpublished inside inform

118、ation in relation to the Company or where dealings by Directors are prohibited under any code or requirement of the Listing Rules or any applicable laws,rules or regulations;(b)during the period of 60 days immediately preceding the publication date of the annual results or,if shorter,the period from

119、 the end of the relevant financial year up to the publication date of the results;and(c)during the period of 30 days immediately preceding the publication date of the half-year results or,if shorter,the period from the end of the relevant half-year period up to the publication date of the results.20

120、25中期報告 羚邦集團有限公司21Management Discussion and Analysis管理層討論與分析6.受託人購買股份為授出獎勵，本公司須：(a)向受託人支付相關款項並指示受託人按當時市價在場內交易購買股份；(b)指示及促使受託人自任何股東收取現有股份；及或(c)指示受託人運用信託所持的任何退還股份。倘受託人接獲本公司的指示，透過場內交易購買股份，則受託人須於向本公司收取必需的資金後在合理情況下盡快按當時市價在場內交易購買本公司指示數目的股份。所提供資金的任何剩餘金額將於完成購買股份後隨即由受託人退還予本公司。倘本公司所支付或須支付的金額或本公司指示受託人使用的金額不足以購買

121、所指示購買的全部股份，則受託人須購買可以信託資金內可動用的現金淨額購買的最高完整單位股份，而本公司承諾向受託人再提供資金以購買應付獎勵所需的全部股份。購買股份須維持市場秩序，而所購買的股份將屬於信託的信託基金資本。6.Acquisition of Shares by the TrusteeThe Company shall,for the purposes of satisfying the grant of Awards:(a)pay to the Trustee such monies and instruct the Trustee to acquire Shares through o

122、n-market transactions at the prevailing market price;(b)direct and procure the Trustee to receive existing Shares from any Shareholder;and/or(c)instruct the Trustee to apply any Returned Shares held in the Trust.Where the Trustee has received instructions from the Company to acquire Shares through o

123、n-market transactions,the Trustee shall acquire such number of Shares as instructed by the Company on-market at the prevailing market price as soon as reasonably practicable after receiving the necessary funds from the Company.Any excess amount of the funds provided shall be returned by the Trustee

124、to the Company forthwith after completion of the purchase of the Shares.Where the amount paid or caused to be paid by the Company or where the amount that the Trustee is directed by the Company to use is not sufficient to purchase all of the Shares it is instructed to purchase,the Trustee shall acqu

125、ire the maximum number of board lots of Shares that it is able to acquire with the net cash available in the fund of the Trust and the Company undertakes to provide further funds to the Trustee to purchase all of the Shares required to satisfy the Award.The purchase of Shares is subject to the maint

126、enance of an orderly market and the Shares so purchased shall form part of the capital of the trust fund of the Trust.22MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析倘上市規則、證券及期貨條例或其他不時相關的法律禁止，則本公司不得指示受託人按當時市價在場內交易購買股份（視乎限制而定）。倘上述禁止導致錯過計劃規則或信託契約所指定的時間，則所指定的時間視為延

127、長直至不再禁止相關行動後首個營業日之後合理最早的日期為止。7.獎勵的歸屬、結算付款董事會可於計劃生效期間不時根據一切相關法律釐定待歸屬獎勵的歸屬準則及條件或期限。在符合歸屬準則及條件的情況下，董事會可(a)指示及促使受託人將信託內的獎勵股份發放予指定參與者，以董事會不時決定的方式向指定參與者轉讓獎勵股份；或(b)倘董事會合理認為指定參與者因有關指定參與者以股份形式收取獎勵的能力或受託人向指定參與者進行上述轉讓的能力的潛在法律或監管限制而無法以股份形式收取獎勵，則董事會須指示並促使受託人按當時市價在場內交易出售指定參與者所獲歸屬的獎勵股份，然後將歸屬通知所載獎勵股份的實際售價以現金支付予指定參與

128、者。The Company shall not instruct the Trustee to acquire Shares through on-market transactions at the prevailing market price,where such action(as applicable)is prohibited under the Listing Rules,the SFO or other applicable laws from time to time.Where such a prohibition causes the prescribed timing

129、imposed by the Scheme Rules or the Trust Deed to be missed,such prescribed timing shall be treated as extended until as soon as reasonably practicable after the first Business Day on which the prohibition no longer prevents the relevant action.7.Vesting of Award,settlement/payment of AwardThe Board

130、may from time to time,while the Scheme is in force and subject to all applicable laws,determine such vesting criteria and conditions or periods for the Award to be vested.Upon the satisfaction of the vesting criteria and conditions,the Board may either:(a)direct and procure the Trustee to release fr

131、om the Trust the Award Shares to the Selected Participants by transferring the number of Award Shares to the Selected Participants in such manner as determined by the Board from time to time;or(b)to the extent that,in the reasonable opinion of the Board,it is not practicable for the Selected Partici

132、pant to receive the Award in Shares due to potential legal or regulatory restrictions with respect to the Selected Participants ability to receive the Award in Shares or the Trustees ability to give effect to any such transfer to the Selected Participant,the Board will direct and procure the Trustee

133、 to sell,on-market at the prevailing market price,the number of Award Shares so vested in respect of the Selected Participant and pay the Selected Participant the proceeds in cash arising from such sale based on the Actual Selling Price of such Award Shares as set out in the Vesting Notice.2025中期報告

134、羚邦集團有限公司23Management Discussion and Analysis管理層討論與分析Subject to the Scheme Rules,within a reasonable time period as agreed between the Trustee and the Board from time to time prior to any Vesting Date,the Board or its delegate(s)shall send to the relevant Selected Participant a vesting notice.The Boa

135、rd or its delegate(s)shall forward a copy of the vesting notice to the Trustee and instruct the Trustee the extent to which the Award Shares held in the Trust shall be transferred and released from the Trust to the Selected Participant in the manner as determined by the Board or its delegate(s),or b

136、e sold as soon as practicable from the Vesting Date and the payment of the Actual Selling Price in cash to the Selected Participant in satisfaction of the Award.8.Cessation of employment and other eventsSubject to the Scheme Rules,if a Selected Participant ceases to be an Eligible Person by reason o

137、f:(a)resignation of the Selected Participants employment;(b)termination of the Selected Participants employment or contractual engagement with the Group by reason of redundancy;(c)retirement of the Selected Participant;(d)end of the term of the Selected Participants contract for provision of service

138、s or otherwise with the Group;(e)end of the term of the contract of the Selected Participants engagement with the Group as contractual staff;(f)winding-up of any member of the Group in which the Selected Participant is employed or is contractually engaged;(g)death of the Selected Participant;(h)the

139、employer terminating the contract of employment of the Selected Participants without notice or payment in lieu of notice;(i)the Selected Participant having been convicted of any criminal offence involving his or her integrity or honesty;or(j)termination of the Selected Participants employment or con

140、tractual engagement with the Group by reason of his/her permanent physical or mental disablement;any outstanding Award Shares not yet vested shall be immediately forfeited,unless the Board determines otherwise at its absolute discretion.All such Award Shares which are not vested and/or are forfeited

141、 pursuant to the Scheme Rules shall immediately become Returned Shares,which shall be held by the Trustee and applied in accordance with the instructions from the Board and the Scheme Rules for the purpose of the Scheme.9.Transferability and other rights to Award SharesAny Award granted under the Sc

142、heme but not yet vested shall not be assignable or transferable and no Selected Participant shall in any way sell,transfer,charge,mortgage,encumber or create any interest in favour of any other person over or in relation to any Award,or enter into any agreement to do so.根據計劃規則，在受託人與董事會於任何歸屬日期前不時協定的合

143、理期間，董事會或其授權人士須向有關指定參與者寄發歸屬通知。董事會或其授權人士須將歸屬通知副本送交受託人，並指示受託人將信託所持指定數目的獎勵股份自信託撥出並按董事會或其授權人士決定的方式轉讓予指定參與者，或於歸屬日期之後盡快出售，然後以現金向指定參與者支付實際售價以完成獎勵。8.終止受僱及其他事件根據計劃規則，倘指定參與者基於下列原因而不再為合資格人士：(a)指定參與者辭職；(b)本集團因裁員而終止指定參與者的僱傭或合約關係；(c)指定參與者退休；(d)指定參與者與本集團就提供服務或其他事項而訂立的合約期屆滿；(e)指定參與者與本集團訂立有關聘任為合約員工的合約期屆滿；(f)指定參與者受僱或合

144、約聘用的本集團任何成員公司清盤；(g)指定參與者身故；(h)僱主在不發出通知或支付代通知金的情況下終止指定參與者的僱傭合約；(i)指定參與者觸犯任何涉及誠信的刑事罪行；或(j)本集團因指定參與者身體或神智永久傷殘而終止其僱傭或合約關係；則任何已授出但未歸屬的獎勵股份將立即沒收，惟董事會另行全權決定者除外。所有根據計劃規則未歸屬及或沒收的獎勵股份將立即成為退還股份，由受託人持有並根據董事會的指示及計劃規則用於計劃的用途。9.獎勵股份的轉讓或其他權利任何根據計劃授出但未歸屬的獎勵不得指讓或轉讓，而指定參與者不得以任何方式向任何其他人士出售、轉讓、質押、按揭任何獎勵或就任何獎勵設立債權負擔或權益或就

145、此訂立任何協議。24MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析10.Interest in the assets of the TrustFor the avoidance of doubt:(a)a Selected Participant shall have only a contingent interest in the Award subject to the vesting of such Award;(b)no instructions may be

146、given by a Selected Participant to the Trustee in respect of the Award or any other property of the Trust;(c)neither the Selected Participant nor the Trustee may exercise any voting rights in respect of any Award Shares that have not yet vested;(d)a Selected Participant shall have no right to any di

147、vidend that have accrued prior to the vesting of such Award Shares,any Returned Shares or any dividend of the Returned Shares,all of which shall be retained by the Trustee for the benefit of the Scheme;(e)a Selected Participant shall have no rights in the balance of the fractional shares arising out

148、 of consolidation of Shares(if any)and such Shares shall be deemed Returned Shares for the purposes of the Scheme;and(f)in the event a Selected Participant ceases to be an Eligible Person on or prior to the relevant Vesting Date and the Award in respect of the relevant Vesting Date shall lapse or be

149、 forfeited pursuant to the Scheme,such Award shall not vest on the relevant Vesting Date and the Selected Participant shall have no claims against the Company or the Trustee,unless the Board determines otherwise at its absolute discretion.11.Equity issuesIf there is an open offer of new securities,t

150、he Trustee shall not subscribe for any new Shares.If there is a bonus warrant issue,the Trustee shall not subscribe for any new Shares by exercising any of the subscription rights attached to the bonus warrants and shall sell the bonus warrants created and granted to it,the net proceeds of sale of s

151、uch bonus warrants shall be held as funds of the Trust.In the event the Company undertakes a scrip dividend scheme,the Trustee shall elect to receive the scrip Shares and such Shares will be held as Returned Shares.In the event of an issue of Shares by the Company credited as fully paid to the holde

152、rs of the Shares by way of capitalisation of profits or reserves(including share premium account),the Shares attributable to any Award Shares held by the Trustee shall be deemed to be an accretion to such Award Shares and shall be held by the Trustee as if they were Award Shares purchased by the Tru

153、stee hereunder and all the provisions hereof in relation to the original Award Shares shall apply to such additional Shares.In the event of a rights issue,the Trustee shall seek instruction from the Company on the steps or actions to be taken in relation to the nil-paid rights allotted to it.10.信託資產

154、權益未免生疑：(a)指定參與者僅擁有獎勵的或然權益（待獎勵歸屬後方可作實）；(b)指定參與者不得就獎勵或信託的任何其他財產向受託人發出指示；(c)指定參與者及受託人不得行使任何尚未歸屬的獎勵股份的投票權；(d)指定參與者無權享有獎勵股份歸屬前應計的任何股息、退還股份或退還股份的任何股息（全部由受託人代計劃持有）；(e)指定參與者無權獲得因股份合併（如有）所產生的零碎股份，而根據計劃，該等股份視為退還股份；及(f)倘指定參與者於有關歸屬日期或之前不再為合資格人士，則有關歸屬日期的獎勵會根據計劃失效或沒收，且該獎勵不得在有關歸屬日期歸屬，而該指定參與者不得向本公司或受託人提出任何申索，惟董事會另行

155、全權決定者除外。11.股本發行倘公開發售新證券，受託人不得認購任何新股份。倘發行紅利認股權證，受託人不得行使紅利認股權證所附的認購權以認購任何新股份，並須出售所設立及獲授的紅利認股權證，而所出售紅利認股權證所得款項淨額將持作信託的資金。倘若本公司採取以股代息計劃，則受託人將選擇收取以股代息股份，而該等股份將作為歸還股份持有。倘若本公司發行的股份以溢利或儲備（包括股份溢價賬）資本化的方式記為全額支付給股份持有人的股份，則受託人持有的獎勵股份應佔的股份應被視為獎勵股份的增加，由該受託人持有，猶如它們是受託人根據計劃購買的獎勵股份一樣，且計劃與原始獎勵股份有關的所有條文將適用於該類額外股份。倘若發生

156、供股，則受託人應就其獲分配的未繳股款權向本公司尋求有關步驟或行動的說明。2025中期報告 羚邦集團有限公司25Management Discussion and Analysis管理層討論與分析In the event of any non-cash distribution by reason of which the Board considers an adjustment to an outstanding Award to be fair and reasonable,an adjustment shall be made to the number of outstanding A

157、ward Shares of each Selected Participant as the Board shall consider to be fair and reasonable in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Scheme for the Selected Participants.The Company shall provide such funds,or such d

158、irections on application of the Returned Shares or other funds in the Trust,as may be required to enable the Trustee to purchase Shares on-market at the prevailing market price to satisfy the additional Award.In the event of other non-cash and non-scrip distributions made by the Company not otherwis

159、e referred to in the Scheme Rules in respect of the Shares held upon Trust,the Trustee shall sell such distribution and the net sale proceeds thereof shall be deemed as cash income of a Share held upon the Trust.12.Scheme LimitThe Company shall not make any further grant of Award which will result i

160、n the aggregate number of Shares underlying all grants made pursuant to the Scheme(excluding Award Shares that have been forfeited in accordance with the Scheme)to exceed 10%(i.e.199,200,000 Shares)of the total number of issued Shares as at the Adoption Date without Shareholders approval.Except as o

161、therwise approved by the Board,the total number of Award Shares which may be granted to a Selected Participant under the Scheme shall not exceed 5%of the total number of issued Shares as at the Adoption Date,subject to the compliance of the Listing Rules(including the requirement concerning the main

162、tenance of the public float).13.Alteration of the SchemeThe Scheme may be altered in any respect by a resolution of the Board provided that no such alteration shall operate to affect adversely any subsisting rights of any Selected Participant unless otherwise provided for in the Scheme Rules,except:

163、(a)with the consent in writing of Selected Participants amounting to three-fourths in nominal value of all Award Shares held by the Trustee on that date;or(b)with the sanction of a special resolution that is passed at a meeting of the Selected Participants amounting to three-fourths in nominal value

164、 of all Award Shares held by the Trustee on that date.倘若依董事會認為對已發行獎勵股份的調整屬公平合理的理由做任何非現金方式分派，則將對每位指定參與者的已發行獎勵股份數目做董事會將認為公平合理的調整，以防止攤薄或擴大按計劃擬提供給指定參與者的利益或潛在利益。本公司將提供資金或使用信託中的退還股份或其他資金的指示，從而使受託人能夠以當時市場價格在市場上購買股票來實現額外獎勵。倘若本公司以計劃規則之外的方式就信託所持股份進行其他非現金或非以股代息分派，則受託人應出售該分派，其出售所得款項淨額將視為信託所持股份的現金收入。12.計劃上限在未經股東

165、批準的情況下，倘授出獎勵會導致根據計劃的全部授出所涉及股份總數（不包括根據計劃沒收的獎勵股份）超過採納日期已發行股份總數的10%（即199,200,000股 股份），則本公司不得再授出獎勵。除董事會另行批準外，根據計劃向一名指定參與者授出的獎勵股份總數不得超過於採納日期已發行股份總數的5%並遵守上市規則的規定（包括維持公眾持股量的規定）。13.修改計劃除(a)獲得佔當日受託人所持全部獎勵股份面值四分之三的指定參與者書面同意；或(b)由佔當日受託人所持全部獎勵股份面值四分之三的指定參與者在會議通過特別決議案批準外，計劃任何方面可通過董事會決議案修改，惟修改不得對任何指定參與者的任何既有權利有任何

166、不利影響（計劃規則另有規定者除外）。26MEDIALINK GROUP LIMITED 2025 Interim ReportManagement Discussion and Analysis管理層討論與分析14.TerminationThe Scheme shall terminate on the earlier of:(a)the end of the Award Period except in respect of any non-vested Award Shares granted prior to the expiration of the Scheme,for the pu

167、rpose of giving effect to the vesting of such Award Shares or otherwise as may be required in accordance with the provisions of the Scheme;and(b)such date of early termination as determined by the Board.15.Listing Rules implicationsGiven that the Scheme is funded only by the existing Shares,it does

168、not constitute a share option scheme or an arrangement analogous to a share option scheme for the purpose of Chapter 17 of the Listing Rules.Since the adoption date of the Share Award Scheme and as at the date of this interim report,a total of 51,011,000 Shares had been awarded,representing approxim

169、ately 2.6%of the total number of issued Shares of the Company as at the adoption date.As at the date of the interim report,the total number of shares available for issue with regard to Awards under the Scheme was 81,349,000 Shares,representing approximately 4.1%of the issued Shares of the Company as

170、 at such date.The remaining life of the Scheme is approximately 5 years.14.終止計劃將於下列較早者終止：(a)獎勵期完結時（惟對於計劃屆滿前任何已授出但未歸屬的獎勵股份，則為使獎勵股份歸屬或計劃條文另有規則則以所規定的期限為準）；及(b)董事會決定提早終止當日。15.上市規則的影響由於計劃僅以現有股份提供資金，故此不屬於上市規則第17章所指的購股權計劃或類似購股權計劃的安排。自股份獎勵計劃採納日期起及於本中期報告日期，已獎勵合共51,011,000股股份，約佔本公司於採納日期已發行股份總數的2.6%。於本中期報告日期，有

171、關計劃項下獎勵可供發行的股份總數為81,349,000股，約佔本公司於有關日期已發行股份的4.1%。計劃餘下年期約為5年。2025中期報告 羚邦集團有限公司27Management Discussion and Analysis管理層討論與分析Particulars and movements of the awarded shares(all funded by existing shares)under the Share Award Scheme during the six months period ended 30 September 2024 were as follows:Ca

172、tegory of granteesDate of grantClosing price of the shares immediately before the date of grant Outstanding as at 1 April 2024Granted during the Reporting Period(Note 1)Fair value of awards at the date of grant(Note 2)Performance targetConsideration/purchase price of awardsVested during the Reportin

173、gPeriodLapsed/forfeited during the ReportingPeriodCancelled during the ReportingPeriodOutstanding as at 30 September 2024承授人類別授出日期緊接授出 日期前的 股份收市價於2024年 4月1日 尚未授出報告期內授出（附註1）於授出日期獎勵的公平值（附註2）績效目標獎勵代價 購買價報告期內歸屬報告期內失效沒收報告期內註銷於2024年 9月30日 尚未行使Directors董事Ms.Noletta Chiu2 April 2024HK$0.1864,980,000HK$926,0

174、004,980,000(Note 3)(附註3)趙小鳳女士2024年4月2日0.186港元926,000港元Directors respective associate董事各自的聯繫人Substantial shareholders associate主要股東的聯繫人Employees僱員23 employees2 April 2024HK$0.1864,346,000HK$809,0004,346,000(Note 4)(附註4)23名僱員2024年4月2日0.186港元809,000港元 Total9,326,000HK$1,735,0009,326,000總計1,735,000港元 81

175、,550,000 shares were available for grant under the scheme mandate at the beginning of the Reporting Period.80,234,000 shares were available for grant under the scheme mandate at the end of the Reporting Period.Notes:1.During the Reporting Period ended 30 September 2024,except Ms.Noletta Chiu who was

176、 granted 4,980,000 shares under the Share Award Scheme,none of the five highest paid individuals were granted any shares.2.The fair value of the Awarded Shares awarded was based on the quoted market prices of the Companys shares at the grant dates.The equity-settled share-based payment expense of th

177、e Group is HK$1,735,000 for the Reporting Period(six months ended 30 September 2023:HK$3,752,000).3.The weighted average closing price of the shares immediately before the dates on which the awarded shares were vested was HK$0.186.4.The weighted average closing price of the shares immediately before

178、 the dates on which the awarded shares were vested was HK$0.186.截至2024年9月30日止六個月期間，股份獎勵計劃下獎勵股份（悉數由現有股份提供資金）的詳情及變動如下:於報告期初，根據計劃授權可授予的獎勵數量為81,550,000股。於報告期末，根據計劃授權可授予的獎勵數量為80,234,000股。附註：1.於2024年9月30日止年度，除了趙少鳳 女士根據股份獎勵計劃被授予了4,980,000股，五位最高薪酬人士均未獲得任何股份。2.獎勵股份的公平值乃基於授出日期本公司股份的市場報價釐定，而報告期的權益結算以股份為基礎之付款開支

179、為1,735,000港元（截至2023年9月30日止六個月：HK$3,752,000）。3.緊接獎勵股份歸屬日期前股份的加權平均收市價為0.186港元。4.緊接獎勵股份歸屬日期前股份的加權平均收市價為0.186港元。28MEDIALINK GROUP LIMITED 2025 Interim ReportCorporate Governance Highlights企業管治摘要CORPORATE GOVERNANCE PRACTICESOur Company has adopted the code provisions as set out in the CG Code as its own

180、 code of corporate governance.For the six months ended 30 September 2024 and up to the date of this interim report,our Company has complied with the code provisions as set out in the CG Code,save and except for code provision C.2.1 in Part 2 of the CG Code as set out below:Chairman and Chief Executi

181、veMs.Chiu Siu Yin Lovinia currently holds both positions as chairman and chief executive officer.Throughout the business history,Ms.Chiu has been the key leadership figure of our Group and has been primarily involved in the formulation of business strategies and determination of the business plans,t

182、he Directors(including the independent non-executive Directors)consider Ms.Chiu the best candidate for both positions and that the present arrangements are beneficial for and in the interests of our Company and the Shareholders as a whole.DIRECTORS AND CHIEF EXECUTIVES INTERESTS AND SHORT POSITIONS

183、IN THE SHARES,UNDERLYING SHARES AND DEBENTURES OF OUR COMPANY OR ANY OF ITS ASSOCIATED CORPORATIONSAs at 30 September 2024,the interests and short positions of the Directors and chief executives of the Company in the Shares,underlying Shares and debentures of our Company or any of its associated cor

184、porations(as defined in Part XV of the SFO)as recorded in the register required to be kept by our Company under Section 352 of the SFO or as otherwise notified to our Company and the Stock Exchange pursuant to the Model Code are as follows:企業管治常規本公司已採納企業管治守則所載守則條文作為自身企業管治守則。於截至2024年9月30日止六個月及直至本中期報告

185、日期，本公司已遵守企業管治守則的守則條文，惟下述企業管治守則第2部分守則條文C.2.1條除外：主席及行政總裁趙小燕女士目前擔任主席及行政總裁兩項職務。在我們整個業務歷史中，趙女士一直為本集團的主要領導人物，主要參與制定業務策略及釐定業務計劃。董事（包括獨立非執行董事）認為，趙女士為兩項職務的最佳人選，且目前安排屬有利並符合本公司及股東之整體利益。董事及主要行政人員於本公司或其任何相聯法團的股份、相關股份及債券之權益及淡倉 於2024年9月30日，本公司董事及主要行政人員於本公司或其任何相聯法團（按證券及期貨條例第XV部的涵義）之股份、相關股份及債券中，擁有本公司依據證券及期貨條例第352條須存

186、置的登記冊所記錄，或依據標準守則已另行知會本公司及聯交所的權益及淡倉如下：2025中期報告 羚邦集團有限公司29Corporate Governance Highlights企業管治摘要Interests in the Shares of the CompanyName of DirectorNature of interestClass and number of issued Shares heldLong/short positionApproximate percentage of the issued Shares as at 30 September 2024董事姓名權益性質持有已

187、發行股份的類別及數目好倉淡倉於2024年9月30日佔已發行股份的概約百分比Ms.Chiu Siu Yin Lovinia(1)Interest of controlled corporations1,434,240,000ordinary SharesLong position72%趙小燕女士(1)受控制法團權益1,434,240,000股普通股好倉72%Ms.Chiu Siu Fung NolettaBeneficial owner39,840,000ordinary SharesLong position2%趙小鳳女士實益擁有人39,840,000股 普通股好倉2%Note:(1)Ms.L

188、ovinia Chiu,the founder,chairman of our Board,an executive Director and chief executive officer of our Company,holds the entire share capital of RLA,which in turn directly holds 1,434,240,000 Shares.Accordingly,Ms.Lovinia Chiu is deemed to be interested in the 1,434,240,000 Shares held by RLA.Save a

189、s disclosed above,as at 30 September 2024,none of the Directors or chief executives of our Company had or was deemed to have any interests or short positions in the Shares,underlying Shares or debentures of our Company and its associated corporations(within the meaning of Part XV of the SFO),which h

190、ad been recorded in the register maintained by our Company pursuant to section 352 of the SFO or which had been notified to our Company and the Stock Exchange pursuant to the Model Code contained in the Listing Rules.於本公司股份的權益附註：(1)本公司創辦人、董事會主席、執行董事兼行政總裁趙小燕女士持有RLA全部股本，而RLA則直接持有1,434,240,000股股份。因此，趙小

191、燕女士被視為於RLA持有的1,434,240,000股股份中擁有權益。除上文所披露者外，於2024年9月30日，本公司董事或主要行政人員概無於本公司及其相聯法團（按證券及期貨條例第XV部的涵義）之股份、相關股份或債券中，擁有或視為擁有本公司依據證券及期貨條例第352條須存置的登記冊所記錄，或依據上市規則所載標準守則已知會本公司及聯交所的任何權益或淡倉。30MEDIALINK GROUP LIMITED 2025 Interim ReportCorporate Governance Highlights企業管治摘要主要股東於股份及相關股份的權益 於2024年9月30日，據董事所知，下列人士或公司

192、（董事或本公司主要行政人員除外）於本公司股份或相關股份中擁有5%或以上權益或淡倉而須根據證券及期貨條例第336條記錄於規定須存置的登記冊內附註：(1)所示的所有權益均為好倉。除上文所披露者外，於2024年9月30日，就董事所知概無任何其他人士或公司於本公司或其相聯法團之股份或相關股份中擁有本公司依據證券及期貨條例第336條須存置的登記冊所記錄的權益或淡倉。SUBSTANTIAL SHAREHOLDERS INTERESTS IN SHARES AND UNDERLYING SHARESAs at 30 September 2024,so far as the Directors are awa

193、re,the following persons or corporations(not being a Director or chief executive of the Company)had interests or short positions of 5%or more in the Shares or underlying Shares of our Company as recorded in the register required to be kept under section 336 of the SFO:Name of ShareholderNature of in

194、terestClass and number of issued Shares held(1)Long/short positionApproximate percentage of the issued Shares as at 30 September 2024股東名稱權益性質持有已發行股份的類別及數目(1)好倉淡倉於2024年9月30日佔已發行股份的概約百分比RLABeneficial owner1,434,240,000 ordinary SharesLong position72%RLA實益擁有人1,434,240,000股普通股好倉72%Note:(1)All interests

195、stated are long position.Save as disclosed above,as at 30 September 2024,the Directors are not aware of any other person or corporation having an interest or short position in the Shares or the underlying Shares of our Company or its associated corporation(s)which would require to be recorded in the

196、 register required to be kept by the Company pursuant to section 336 of the SFO.2025中期報告 羚邦集團有限公司31Corporate Governance Highlights企業管治摘要PURCHASE,SALE OR REDEMPTION OF LISTED SHARESDuring the Reporting Period,neither our Company nor any of our Subsidiaries purchased,sold or redeemed any of our Compan

197、ys listed Shares(including sale of treasury shares),except that the Trustee of the Share Award Scheme of the Company purchased a total 8,010,000 Shares of the Company on the market for the purpose of the Share Award Scheme and the grant of the Award Shares.As at 30 September 2024,the Company did not

198、 hold any treasury Shares.MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORSOur Company has adopted the Model Code as the Groups code of conduct regarding Directors securities transactions.Specific enquiry has been made of all the Directors and the Directors have confirmed that they have complied w

199、ith the Model Code for the six months ended 30 September 2024 and up to the date of this interim report.Our Company has also established written guidelines no less exacting than the Model Code for securities transactions by employees who are likely to be in possession of unpublished price-sensitive

200、information of the Company.DISCLOSURE OF INFORMATION OF DIRECTORS PURSUANT TO RULE 13.51B(1)OF THE LISTING RULESSet out below are the changes in the information of the Directors required to be disclosed pursuant to Rule 13.51B(1)of the Listing Rules:1.Mr.Fung Ying Wai Wilson,MH,ceased to be an indep

201、endent non-executive director of Hongkong International Theme Parks Limited,a private company which owns the Hong Kong Disneyland Resort,with effect from 1 September 2024.2.Mr.Wong Kam Pui,BBS,JP,has been appointed as a director of HKDay Charity Limited since July 2024.3.Mr.Wong Kam Pui,BBS,JP,has b

202、een appointed as a member of the Council of The University of Hong Kong for a term of three years with effect from 1 January 2025.購買、出售或贖回上市股份 於報告期，本公司及其任何附屬公司概無購買、出售或贖回本公司任何上市股份（包括出售庫存股份），惟本公司股份獎勵計劃之受託人於市場上購入合共8,010,000股本公司股份，以作股份獎勵計劃及授予獎勵股份之用。於2024年9月30日，本公司概無持有任何庫存股份。董事之證券交易標準守則 本公司已採納標準守則作為本集團有關

203、董事進行證券交易的行為守則。向全體董事進行具體查詢後，董事確認於截至2024年9月30日止六個月及直至本中期報告日期彼等已遵守標準守則。本公司亦已就可能擁有本公司未經公佈的股價敏感資料的僱員進行的證券交易制定不遜於標準守則的書面指引。根據上市規則第 13.51B(1)條 披露董事資料 下文載列根據上市規則第13.51B(1)條須予披露的董事資料變更：1.馮英偉先生（榮譽勳章）自2024年9月1日起不再擔任香港國際主題樂園有限公司（一間擁有香港迪士尼樂園度假區的私人公司）的獨立非執行董事。2.黃錦沛先生（銅紫荊星章、太平紳士）自2024年7月起獲委任為香港地慈善社區有限公司的董事。3.黃錦沛先生

204、（銅紫荊星章、太平紳士）獲委任為香港大學校務委員會成員，任期由2025年1月1日起生效，為期三年。32MEDIALINK GROUP LIMITED 2025 Interim ReportCorporate Governance Highlights企業管治摘要Save as disclosed above,there are no other changes to the Directors information as required to be disclosed pursuant to Rule 13.51B(1)of the Listing Rules for the six mo

205、nths ended 30 September 2024 and up the date of the interim report.CONTINUING DISCLOSURE OBLIGATIONS PURSUANT TO THE LISTING RULESThe Company does not have any other disclosure obligations under Rules 13.20,13.21 and 13.22 of the Listing Rules.COMPLIANCE WITH THE RELEVANT LAWS AND REGULATIONSAs far

206、as the Board is aware,the Group has complied in material aspects with the relevant laws and regulations that have a significant impact on the business and operations of the Group.PUBLIC FLOATBased on the information that is publicly available to the Company and to the best knowledge of the Directors

207、,as at the date of this interim report,the Company maintained a sufficient public float of the issued Shares(i.e.at least 25%of the issued Shares in the public hands)as required under the Listing Rules.REVIEW OF INTERIM RESULTSThe Companys Audit Committee has reviewed the accounting policies and pra

208、ctices adopted by the Group and discussed internal control and financial reporting matters including the review of the unaudited consolidated interim results of the Group for the six months ended 30 September 2024.For and on behalf of the BoardMedialink Group LimitedChiu Siu Yin LoviniaChairman and

209、Executive DirectorHong Kong,28 November 2024除上文所披露者外，截至2024年9月30日止六個月及截至本中期報告日期，根據上市規則第13.51B(1)條須予披露的董事資料概無其他變動。根據上市規則之持續披露責任 根 據 上市規 則第13.20、13.21及13.22條，本公司並無任何其他披露責任。遵守相關法律及法規 就董事會所知，本集團已於重大方面遵守對本集團業務及營運有重大影響之相關法律及法規。公眾持股量根據本公司可公開獲得的資料及就董事所知，於本中期報告日期，本公司根據上市規則的規定就已發行股份保持充足的公眾持股量（即至少25%已發行股份由公眾人士

210、持有）。審閱中期業績本公司審核委員會已審閱本集團採納的會計政策及慣例，並討論有關內部控制及財務申報等事宜，包括審閱截至2024年9月30日止六個月的未經審核綜合中期業績。代表董事會羚邦集團有限公司主席兼執行董事趙小燕香港，2024年11月28日2025中期報告 羚邦集團有限公司33Interim Condensed Consolidated Statement of Profit or Loss中期簡明綜合損益表For the six months ended 30 September 2024截至2024年9月30日止六個月Six months ended 30 September截至9月3

211、0日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）NotesHK000HK000附註千港元千港元Revenue收益4294,175247,622Cost of sales銷售成本(146,373)(126,119)Gross profit毛利147,802121,503Other income and gains,net其他收入及收益淨額59,3253,817Selling and distribution expenses銷售及分銷開支(60,772)(36,360)General and administrative expenses一般及行政

212、開支(27,338)(30,676)Other expenses,net其他開支淨額(22,622)(17,004)Finance costs融資成本(133)(145)Fair value gain on investment in a convertible bond投資可換股債券的公平值 收益3741,260Share of profit/(loss)of a joint venture應佔一間合營企業 收益（虧損）3,418(398)Share of loss of an associate應佔一間聯營企業虧損(62)Profit Before Tax除稅前溢利649,99241,99

213、7Income tax expense所得稅開支7(7,599)(5,799)Profit for the Period Attributable to Shareholders of the Company本公司股東應佔期內溢利42,39336,198 Earnings Per Share Attributable to Shareholders of the Company本公司股東應佔每股盈利9Basic and diluted基本及攤薄HK 2.2 centsHK 1.9 cents2.2港仙 1.9港仙 34MEDIALINK GROUP LIMITED 2025 Interim R

214、eportInterim Condensed Consolidated Statement of Comprehensive Income中期簡明綜合全面收益表For the six months ended 30 September 2024截至2024年9月30日止六個月Six months ended 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$000千港元千港元Profit for the Period期內溢利42,39336,198Other Comprehensive Incom

215、e/(Loss)其他全面收益（虧損）Items that may be reclassified to profit or loss in subsequent periods:於其後期間可重新分類至損益的項目：Exchange differences on translation of foreign operations換算海外業務產生的匯兌差額1,025(1,676)Share of other comprehensive income/(loss)of a joint venture應佔一間合營企業其他全面收益（虧損）88(15)1,113(1,691)Total Comprehens

216、ive Income for the Period Attributable to Shareholders of the Company本公司股東應佔期內全面收益總額43,50634,507 2025中期報告 羚邦集團有限公司35Interim Condensed Consolidated Statement of Financial Position中期簡明綜合財務狀況表As at 30 September 2024於2024年9月30日30 September 202431 March 20242024年2024年9月30日3月31日(Unaudited)(Audited)（未經審核）（

217、經審核）NotesHK$000HK$000附註千港元千港元Non-Current Assets非流動資產Goodwill商譽29,70929,709Property,plant and equipment物業、廠房及設備1011,76714,119Intangible assets無形資產8,3758,700Investments in media contents投資媒體內容15,48615,355Investment in a joint venture投資一間合營企業8,0494,543Investment in an associate投資一間聯營企業3,058Investment i

218、n a convertible bond投資可換股債券115,7435,369Deferred tax assets遞延稅項資產7581Deposits按金1,6101,409 83,87279,285 Current Assets流動資產Licensed assets授權資產12403,087359,929Inventories存貨8,7186,511Trade receivables貿易應收款項13206,640223,803Prepayments,deposits and other receivables預付款項、按金及其他應收款項9,96815,764Due from a joint

219、 venture應收一間合營企業款項6556Cash and cash equivalents現金及現金等價物356,854235,727 985,273842,290 Current Liabilities流動負債Trade payables貿易應付款項14227,649165,865Accruals and other payables應計費用及其他應付款項98,57673,848Contract liabilities合約負債92,26981,067Lease liabilities租賃負債5,6695,394Dividend payable應付股息6,500Tax payable應付稅

220、項10,3112,236 440,974328,410 Net Current Assets流動資產淨值544,299513,880 Total Assets Less Current Liabilities資產總值減流動負債628,171593,165 36MEDIALINK GROUP LIMITED 2025 Interim ReportAs at 30 September 2024於2024年9月30日Interim Condensed Consolidated Statement of Financial Position中期簡明綜合財務狀況表30 September 202431

221、March 20242024年2024年9月30日3月31日(Unaudited)(Audited)（未經審核）（經審核）NotesHK$000HK$000附註千港元千港元Non-Current Liabilities非流動負債Lease liabilities租賃負債1,6334,134Provision撥備1,3111,311 2,9445,445 Net Assets資產淨值625,227587,720 Equity權益Share capital股本1519,92019,920Reserves儲備605,307567,800 Total Equity權益總額625,227587,720

222、2025中期報告 羚邦集團有限公司37Interim Condensed Consolidated Statement of Changes in Equity中期簡明綜合權益變動表For the six months ended 30 September 2024截至2024年9月30日止六個月Attributable to shareholders of the Company本公司股東應佔 Issued capitalShare premium accountShares held under the share award schemeShare award scheme reserv

223、eCapital reserveOther reserveExchange fluctuation reserveRetained profitsTotal equity已發行股本股份溢價賬根據股份獎勵計劃持有的股份股份獎勵計劃儲備資本儲備其他儲備外匯波動儲備保留溢利總權益(Unaudited)(Unaudited)(Unaudited)(Unaudited)(Unaudited)(Unaudited)(Unaudited)(Unaudited)(Unaudited)（未經審核）（未經審核）（未經審核）（未經審核）（未經審核）（未經審核）（未經審核）（未經審核）（未經審核）NotesHK$00

224、0HK$000HK$000HK$000HK$000HK$000HK$000HK$000HK$000附註千港元千港元千港元千港元千港元千港元千港元千港元千港元At at 1 April 2023於2023年4月1日19,920190,054(11,874)58447,591(85)(624)319,871565,437Profit for the period期內溢利36,19836,198Other comprehensive loss for the period:期內其他全面虧損：Exchange differences on translation of foreign operatio

225、ns 換算海外業務產生的 匯兌差額(1,676)(1,676)Share of other comprehensive loss of a joint venture應佔一間合營企業 其也全面虧損(15)(15)Total comprehensive income for the period期內全面收益總額(1,691)36,19834,507Purchases of shares for the share award scheme就股份獎勵計劃購買股份(2,013)(2,013)Vested shares under the share award scheme根據股份獎勵計劃的已歸屬股

226、份2,5101,2423,752Dividends股息8(8,075)(8,075)At 30 September 2023於2023年9月30日19,920190,054(11,377)1,82647,591(85)(2,315)347,994593,608 1 April 2024於2024年4月1日19,920190,054*(13,538)*1,825*47,591*(85)*(1,736)*343,689*587,720Profit for the period期內溢利42,39342,393Other comprehensive income for the period:期內其他

227、全面收益：Exchange differences on translation of foreign operations 換算海外業務產生的 匯兌差額1,0251,025Share of other comprehensive income of a joint venture應佔一間合營企業 其也全面收益8888 Total comprehensive income for the period期內全面收益總額1,11342,39343,506Purchases of shares for the share award scheme就股份獎勵計劃購買股份(1,234)(1,234)Ve

228、sted shares under the share award scheme根據股份獎勵計劃的已歸屬股份1,1845511,735Dividends股息8(6,500)(6,500)At 30 September 2024於2024年9月30日19,920190,054*(13,588)*2,376*47,591*(85)*(623)*379,582*625,227*These reserve accounts comprise the consolidated reserves of HK$605,307,000(31 March 2024:HK$567,800,000)in the i

229、nterim condensed consolidated statement of financial position.*該等儲備賬包括綜合財務狀況表的簡明綜合儲備605,307,000港元（2024年3月31日：567,800,000港元）。38MEDIALINK GROUP LIMITED 2025 Interim ReportInterim Condensed Consolidated Statement of Cash Flows中期簡明綜合現金流量表For the six months ended 30 September 2024截至2024年9月30日止六個月Six mont

230、hs ended 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）NotesHK$000HK$000附註千港元千港元CASH FLOWS FROM OPERATING ACTIVITIES經營活動所得現金流量Profit before tax除稅前溢利49,99241,997Adjustments for:就以下各項作出調整：Interest income利息收入5(5,082)(3,767)Finance costs融資成本6133145Share of loss/(profit)of a joint vent

231、ure應佔一間合營企業虧損（溢利）(3,418)398Share of loss of an associate應佔一間聯營企業虧損62Depreciation of right-of-use assets使用權資產折舊62,7022,755Depreciation of other items of property,plant and equipment物業、廠房及設備其他 項目的折舊67251,093Amortisation of intangible assets無形資產攤銷65522,753Share-based payment expenses以股份為基礎與付款開支61,7353,

232、752Impairment of trade receivables貿易應收款項減值6302920Reversal of impairment of trade receivables貿易應收款項減值撥回6(185)(283)Write-back of trade payables貿易應付款項撥回6(1,527)Write-down of licensed rights to net realisable value,net授權撇減至可變現淨值 淨額62,25011,692Fair value gain on investment in a convertible bond投資可換股債券的公平

233、值收益(374)(1,260)Fair value gains on investments in media contents,net投資媒體內容之公平值 淨利淨額4(131)(769)47,73659,426Increase in licensed assets授權資產增加(45,285)(60,558)Increase in inventories存貨增加(2,173)(2,429)Increase/(decrease)in trade receivables貿易應收款項增加（減少）17,416(27,941)Decrease in prepayments,deposits and ot

234、her receivables預付款項、按金及其他應收 款項減少6,046755Decrease in an amount due from a joint venture應收一間合營企業款項 減少550472Increase in trade payables貿易應付款項增加63,04223,086Increase/(decrease)in accruals and other payables應計費用及其他應付款項 增加（減少）24,440(3,464)Increase/(decrease)in contract liabilities合約負債增加（減少）10,996(12,144)Hon

235、g Kong profits tax paid已付香港利得稅(2,711)(1,837)Hong Kong profits tax refunded已退還香港利得稅4,798Overseas taxes paid已付海外稅項(1,955)(134)Overseas taxes refunded已退海外稅項416 Net cash flows from/(used in)operating activities經營活動所得（所用）現金 流量淨額123,316(24,768)2025中期報告 羚邦集團有限公司39For the six months ended 30 September 2024截

236、至2024年9月30日止六個月Interim Condensed Consolidated Statement of Cash Flows中期簡明綜合現金流量表Six months ended 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）NotesHK$000HK$000附註千港元千港元CASH FLOWS FROM INVESTING ACTIVITIES投資活動所得現金流量Interest received已收利息4,5233,685Purchases of property,plant and equi

237、pment 購買物業、廠房及設備(345)(428)Purchases of intangible assets購買無形資產(142)(2,530)Additions of investments in media contents增加投資媒體內容(1,894)Return of investments in media contents投資媒體內容收回7,975Investment in a convertible bond購買可換股債券(5,797)Investment in an associate投資一間聯營企業(3,120)Placement of time deposits wit

238、h original maturity over three months存放原款期超過三個月的 定期存款(14,109)Net cash flows from/(used in)investing activities投資活動所得（所用）現金流量淨額(13,193)1,011 CASH FLOWS FROM FINANCING ACTIVITIES融資活動所得現金流量Lease payments租賃付款(2,870)(3,173)Purchases of shares for the share award scheme就股份獎勵計劃 購買股份(1,234)(2,013)Net cash f

239、lows used in financing activities融資活動所用現金流量淨額(4,104)(5,186)NET INCREASE/(DECREASE)IN CASH AND CASH EQUIVALENTS現金及現金等價物增加（減少）淨額106,019(28,943)Cash and cash equivalents at beginning of period期初現金及現金等價物235,727281,742Effect of foreign exchange rate changes,net 匯率變動影響（淨額）999(1,209)CASH AND CASH EQUIVALEN

240、TS AT END OF PERIOD期末現金及現金等價物342,745251,590 ANALYSIS OF BALANCES OF CASH AND CASH EQUIVALENTS現金及現金等價物結餘分析Cash and bank balances現金及銀行結餘334,763184,854Time deposits定期存款22,09166,736 Cash and cash equivalents as stated in the consolidated statement of financial position列示於財務狀況表的現金及現金等價物356,854251,590Less

241、:Time deposits with original maturity over three months減：於存放時原存款期超過 三個月的定期存款(14,109)Cash and cash equivalents as stated in the consolidated statement of cash flows列示於現金流量表的現金及現金等價物342,745251,590 40MEDIALINK GROUP LIMITED 2025 Interim ReportNotes to the Interim Condensed Consolidated Financial Inform

242、ation中期簡明綜合財務資料附註For the six months ended 30 September 2024截至2024年9月30日止六個月1.CORPORATE AND GROUP INFORMATIONMedialink Group Limited is a limited liability company incorporated in the Cayman Islands.The principal place of business of the Company is located at Suites 18016,18/F.,Tower 2,The Gateway,Ha

243、rbour City,25 Canton Road,Tsim Sha Tsui,Kowloon,Hong Kong.The registered office of the Company is located at Third Floor,Century Yard,Cricket Square,P.O.Box 902,Grand Cayman,KY1-1103,Cayman Islands.In the opinion of the directors of the Company(the“Directors”),the immediate holding company and the u

244、ltimate holding company of the Company is RLA Company Limited,which is incorporated in the British Virgin Islands(“BVI”).The shares of the Company have been listed on the Main Board of The Stock Exchange of Hong Kong Limited(the“Stock Exchange”).The Company is an investment holding company.During th

245、e period,the Companys subsidiaries were involved in the following principal activities:media content distribution and investments in media content production(“Media Content Distribution Business”)brand licensing(“Brand Licensing Business”)2.1 BASIS OF PREPARATIONThe interim condensed consolidated fi

246、nancial information for the six months ended 30 September 2024 has been prepared in accordance with Hong Kong Accounting Standard(“HKAS”)34 Interim Financial Reporting issued by the Hong Kong Institute of Certified Public Accountants(the“HKICPA”).The interim condensed consolidated financial informat

247、ion does not include all the information and disclosures required in the annual financial statements,and should be read in conjunction with the Groups annual consolidated financial statements for the year ended 31 March 2024.The interim condensed consolidated financial information is presented in Ho

248、ng Kong dollars(“HK$”)and all values are rounded to the nearest thousand(HK$000)except when otherwise indicated.1.公司及集團資料 羚邦集團有限公司於開曼群島註冊成立為有限公司。本公司的主要營業地點位於香港九龍尖沙咀廣東道25號海港城港威大廈2座18樓18016室。本 公司的 註冊 辦 事 處 地 址 為Third Floor,Century Yard,Cricket Square,P.O.Box 902,Grand Cayman,KY1-1103,Cayman Islands。本公

249、司董事（董事）認為，本公司的直接控股公司及最終控股公司為RLA Company Limited，其於英屬處女群島（英屬處女群島）註冊成立。本公司股份在香港聯合交易所有限公司（聯交所）主板上市（上市）。本公司為投資控股公司。期內，本公司附屬公司從事下列主要業務：媒體內容發行及媒體內容製作投資（媒體內容發行業務）品牌授權（品牌授權業務）2.1 編製基準截至2024年9月30日止 六個月的中期簡明綜合財務資料乃按照香港會計師公會（香港會計師公會）頒佈之香港會計準則（香港會計準則）第34號中期財務報告而編製。中期簡明綜合財務資料不包括年度財務報表所要求的全部資料及披露，且須與本集團截至2024年3月3

250、1日止年度的綜合年度財務報表一併閱讀。除另有指示外，中期簡明綜合財 務資料以港元（港元）呈列，所有數值已約整至最接近之千元（千港元）。2025中期報告 羚邦集團有限公司41For the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURESThe accounting policies adopt

251、ed in the preparation of the interim condensed consolidated financial information are consistent with those applied in the preparation of the Groups annual consolidated financial statements for the year ended 31 March 2024,except for the adoption of the following revised Hong Kong Financial Reportin

252、g Standards(“HKFRSs”)for the first time for the current periods financial information.Amendments to HKFRS 16Lease Liability in a Sale and LeasebackAmendments to HKAS 1Classification of Liabilities as Current or Non-current(the“2020 Amendments”)Amendments to HKAS 1Non-current Liabilities with Covenan

253、ts(the“2022 Amendments”)Amendments to HKAS 7 and HKFRS 7Supplier Finance ArrangementsThe nature and impact of the revised HKFRSs are described below:(a)Amendments to HKFRS 16 specify the requirements that a seller-lessee uses in measuring the lease liability arising in a sale and leaseback transacti

254、on to ensure the seller-lessee does not recognise any amount of the gain or loss that relates to the right of use it retains.Since the Group has no sale and leaseback transactions with variable lease payments that do not depend on an index or a rate occurring from the date of initial application of

255、HKFRS 16,the amendments did not have any impact on the financial position or performance of the Group.2.2 會計政策及披露變動 編製中期簡明綜合財務資料所採用的會計政策與編製本集團截至2024年3月31日止年度的年度綜合財務報表所應用的會計政策一致，惟就本期間財務資料首次採用以下經修訂香港財務報告準則（香港財務報告準則）除外。香港財務報告準則第16號（修訂本）售後租回交易的租賃 負債香港會計準則第1號（修訂本）將負債分類為流動或非流動（2020年修訂本）香港會計準則第1號（修訂本）附帶契諾的

256、非流動負債（2022年修訂本）香港會計準則第7號及 香港財務報告準則 第7號（修訂本）供應商融資安排經修訂香港財務報告準則的性質及影響說明如下：(a)香港財務報告準則第16號（修訂本）指明賣方承租人在計量售後租回交易產生的租賃負債時應使用的規定，以確保賣方承租人不會確認與其所保留使用權相關的任何收益或損失金額。由於本集團自首次應用香港財務報告準則第16號日期起並無任何變動租賃付款並不依據指數或利率變動的售後租回交易，因此該等修訂對本集團的財務狀況或業績並無任何影響。42MEDIALINK GROUP LIMITED 2025 Interim ReportFor the six months e

257、nded 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES(Continued)(b)The 2020 Amendments clarify the requirements for classifying liabilities as current or non-current,including what is mean

258、t by a right to defer settlement and that a right to defer must exist at the end of the reporting period.Classification of a liability is unaffected by the likelihood that the entity will exercise its right to defer settlement.The amendments also clarify that a liability can be settled in its own eq

259、uity instruments,and that only if a conversion option in a convertible liability is itself accounted for as an equity instrument would the terms of a liability not impact its classification.The 2022 Amendments further clarify that,among covenants of a liability arising from a loan arrangement,only t

260、hose with which an entity must comply on or before the reporting date affect the classification of that liability as current or non-current.Additional disclosures are required for non-current liabilities that are subject to the entity complying with future covenants within 12 months after the report

261、ing period.The Group has reassessed the terms and conditions of its liabilities as at 1 April 2023 and 2024 and concluded that the classification of its liabilities as current or non-current remained unchanged upon initial application of the amendments.Accordingly,the amendments did not have any imp

262、act on the financial position or performance of the Group.(c)Amendments to HKAS 7 and HKFRS 7 clarify the characteristics of supplier finance arrangements and require additional disclosure of such arrangements.The disclosure requirements in the amendments are intended to assist users of financial st

263、atements in understanding the effects of supplier finance arrangements on an entitys liabilities,cash flows and exposure to liquidity risk.The disclosure of relevant information for supplier finance arrangements is not required for any interim reporting period during the first annual reporting perio

264、d in which an entity applies the amendments.As the Group does not have supplier finance arrangements,the amendments did not have any impact on the interim condensed consolidated financial information.2.2 會計政策及披露之變動（續）(b)2020年修訂本闡明將負債分類為流動或非流動的規定，包括延期結算權利的含義，以及延期結算的權利必須在報告期末存在。負債的分類不受實體可能行使延期結算權利的可能性

265、影響。修訂亦闡明負債可以通過其本身的股本工具進行結算，並且只有當可轉換負債中的轉換選項本身被記錄為股本工具時，負債的條款方不會影響分類。2022年修訂本進一步闡明，在貸款安排產生的負債契諾中，只有實體必須在報告日期或之前遵守的契諾方會影響負債分類為流動或非流動。於報告期後12個月內實體必須遵守未來契諾的非流動負債，則需要進行額外披露。本集團已重新評估於2023年及2024年4月1日的負債之條款及條件，並作出結論為自首次應用修訂起，負債分類為流動或非流動維持不變。因此，該等修訂對本集團的財務狀況或業績並無任何影響。(c)香港會計準則第7號及香港財務報告準則第7號（修訂本）闡明供應商融資安排的特點

266、，並規定須就該等安排作出額外披露。該等修訂的披露規定旨在協助財務報表使用者了解供應商融資安排對實體的負債、現金流量及流動資金風險的影響。在實體首次應用修訂的年度報告期間內，任何中期報告期間均無需對供應商融資安排進行相關資料披露。由於本集團並無供應商融資安排，該等修訂對中期簡明綜合財務資料並無任何影響。2025中期報告 羚邦集團有限公司43For the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財

267、務資料附註3.OPERATING SEGMENT INFORMATIONFor management purposes,the Group is organised into business units based on their products and services and has two reportable operating segments as follows:(a)the media content distribution segment which comprises distributions and investments in media contents i

268、ncluding animation series,variety shows,drama series,animated and live-action feature films and other video contents;and(b)the brand licensing segment which companies(i)obtaining various rights to use third-party owned brands,which include certain merchandising rights,location-based entertainment ri

269、ghts and promotion rights,and sub-licensing the use of these brands to customers;and(ii)acting as an agent for the brand licensors.Management monitors the results of the Groups operating segments separately for the purpose of making decisions about resource allocation and performance assessment.Segm

270、ent performance is evaluated based on reportable segment profit,which is a measure of adjusted profit before tax.The adjusted profit before tax is measured consistently with the Groups profit before tax except that interest income and unallocated gains,depreciation,share of results of a joint ventur

271、e and an associate,and other corporate and unallocated expenses are excluded from such measurement.Segment assets exclude deferred tax assets,property,plant and equipment,investment in a convertible bond,investment in a joint venture,investment in an associate,cash and cash equivalents and corporate

272、 and other unallocated assets as these assets are managed on a group basis.Segment liabilities exclude dividend payable,tax payable,lease liabilities,and corporate and other unallocated liabilities as these liabilities are managed on a group basis.3.經營分部資料為方便管理，本集團按其產品及服務組 織業務單位，可呈報經營分部有下列兩類：(a)媒體內容

273、發行分部包括發行及投資與動畫片、綜藝節目、電視劇、動畫及真人電影及其他視頻內容相關的媒體內容；及(b)品牌授權分部，公司(i)取得使用第三方擁有的品牌的各種權利，包括若干商品授權、大型實體娛樂權及促銷權，再向客戶授予該等品牌的權利；和(ii)作為品牌授權方的代理。管理層獨立監察本集團各經營分部之業績，以作出有關資源分配及表現評估之決策。分部表現乃根據可報告分部溢利進行評估，此乃經調整除稅前溢利計算方法。經調整除稅前溢利與本集團除稅前溢利之計量方法一致，惟有關計量並無計及利息收入及未分配收益、折舊、應佔一間合資企業及一間聯營企業業績及其他企業及未分配開支。分部資產不包括遞延稅項資產、物業、廠房及

274、設備、投資與換股債券、投資一間合營企業、投資一間聯營企業、現金及現金等價物以及企業及其他未分配資產，該等資產按群組基準進行管理。分部負債不包括應付股息、應付稅項、租賃負債企業及其他未分配負債，該等負債按群組基準進行管理。44MEDIALINK GROUP LIMITED 2025 Interim ReportFor the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註3.OPERATIN

275、G SEGMENT INFORMATION(Continued)Media content distributionBrand licensingTotal媒體內容發行品牌授權總計HK$000HK$000HK$000千港元千港元千港元Six months ended 30 September 2024(Unaudited)截至2024年9月30日止 六個月（未經審核）Segment revenue:分部收益：Sales to external customers向外部客戶的銷售176,838117,206294,044Fair value gains on investments in med

276、ia contents,net投資媒體內容的公平值 收益淨額131131 Total總計176,969117,206294,175 Segment results 分部業績38,47630,16368,639Reconciliation:對賬：Share of profit of a joint venture應佔一間合營企業溢利3,418Share of loss of an associate應佔一間聯營企業虧損(62)Interest income and unallocated gains利息收入及未分配收益8,749Depreciation折舊(3,427)Other corpora

277、te and unallocated expenses其他企業及未分配開支(27,325)Profit before tax除稅前溢利49,992 As at 30 September 2024(Unaudited)於2024年9月30日（未經審核）Segment assets分部資產556,538119,621676,159Reconciliation:對賬：Investment in a joint venture投資一間合營企業8,049Investment in an associate投資一間聯營企業3,058Corporate and other unallocated asset

278、s企業及其他未分配資產381,879 Total assets資產總值1,069,145 Segment liabilities分部負債254,744102,282357,026Reconciliation:對賬：Corporate and other unallocated liabilities企業及其他未分配負債86,892 Total liabilities負債總額443,918 3.經營分部資料（續）2025中期報告 羚邦集團有限公司45For the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Int

279、erim Condensed Consolidated Financial Information中期簡明綜合財務資料附註3.OPERATING SEGMENT INFORMATION(Continued)Media content distributionBrand licensingTotal媒體內容發行品牌授權總計HK$000HK$000HK$000千港元千港元千港元Six months ended 30 September 2023(Unaudited)截至2023年9月30日止 六個月（未經審核）Segment revenue:分部收益：Sales to external custo

280、mers向外部客戶的銷售164,68182,172246,853Fair value gains on investments in media contents,net投資媒體內容的公平值 收益淨額769769 Total總計165,45082,172247,622 Segment results 分部業績32,07720,67652,753Reconciliation:對賬：Share of loss of a joint venture應佔一間合營企業虧損(398)Interest income and unallocated gains利息收入及未分配收益3,730Depreciati

281、on折舊(3,848)Other corporate and unallocated expenses其他企業及未分配開支(10,240)Profit before tax除稅前溢利41,997 As at 31 March 2024(Audited)於2024年3月31日（經審核）Segment assets分部資產528,780127,701656,481Reconciliation:對賬：Investment in a joint venture投資一間合營企業4,543Corporate and other unallocated assets企業及其他未分配資產260,551 Tot

282、al assets資產總值921,575 Segment liabilities分部負債188,121117,340305,461Reconciliation:對賬：Corporate and other unallocated liabilities企業及其他未分配負債28,394 Total liabilities負債總額333,855 3.經營分部資料（續）46MEDIALINK GROUP LIMITED 2025 Interim ReportFor the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the I

283、nterim Condensed Consolidated Financial Information中期簡明綜合財務資料附註3.OPERATING SEGMENT INFORMATION(Continued)Geographical information(a)Revenue from external customersSix months ended 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$000千港元千港元Taiwan臺灣89,03322,896Hong Kong香港66,333

284、63,065Mainland China中國內地38,65130,433USA美國36,50189,351Japan日本20,19214,107Others其他39,33427,001 290,044246,853 Excluded fair value changes in investments in media contents,net The revenue information above is based on the locations of the customers.(b)Non-current assetsAs at 30 September2024As at 31 Ma

285、rch2024於2024年9月30日於2024年3月31日(Unaudited)(Audited)（未經審核）（經審核）HK$000HK$000千港元千港元Hong Kong香港54,11349,389Mainland China中國內地5,1165,666Taiwan臺灣1,7172,004Others其他1212 60,95857,071 The non-current asset information above is based on the locations of the assets and excludes financial assets and deferred tax

286、assets.3.經營分部資料（續）地域資料(a)來自外部客戶的收益 不包括投資媒體內容之公平值變動淨額上述收益資料按客戶所在地劃分。(b)非流動資產上述非流動資產資料按資產所在地劃分且不包括金融資產及遞延稅項資產。2025中期報告 羚邦集團有限公司47For the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註4.REVENUESix months ended 30 September

287、截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$000千港元千港元Major product or service lines主要產品或服務線Media Content Distribution Business媒體內容發行業務Distribution of licensed media contents發行授權媒體內容97,253145,196Distribution of feature films發行長篇電影79,58519,485 176,838164,681Fair value gains on invest

288、ments in media contents,net投資媒體內容之公平值 收益淨額131769 176,969165,450 Brand Licensing Business品牌授權業務Sub-licensing of brands品牌再授權63,88039,590Provision of licensing agency services提供授權代理服務12,84617,447Sales of merchandise銷售商品40,48025,135 117,20682,172 294,175247,622 Geographical locations地理位置Media Content Di

289、stribution Business媒體內容發行業務Taiwan臺灣58,28812,307Hong Kong香港45,71839,762USA美國34,40885,503Singapore新加坡6,8525,453Others其他31,57221,656 176,838164,681 4.收益 48MEDIALINK GROUP LIMITED 2025 Interim ReportFor the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Fin

290、ancial Information中期簡明綜合財務資料附註4.REVENUE(Continued)4.收益（續）Six months ended 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$000千港元千港元Geographical locations(Continued)地理位置（續）Brand Licensing Business品牌授權業務Mainland China中國內地31,90015,927Taiwan臺灣30,74510,589Hong Kong香港20,61523,303

291、Japan日本18,19914,099Others其他15,74718,254 117,20682,172 294,044246,853 Excluded fair value changes in investments in media contents,net.Timing of revenue recognition確認收益的時間At a point in time於時間點確認Media Content Distribution Business媒體內容發行業務Distribution of licensed media contents發行授權媒體內容97,253145,196Dis

292、tribution of feature films發行長篇電影79,58519,485 176,838164,681 Brand Licensing Business品牌授權業務Sub-licensing of brands品牌再授權22,1449,408Provision of licensing agency services提供授權代理服務2,6464,421Sales of merchandise銷售商品40,48025,135 65,27038,964 242,108203,645 不包括投資媒體內容之公 平 值變動淨額。2025中期報告 羚邦集團有限公司49For the six

293、 months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註Six months ended 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$000千港元千港元Timing of revenue recognition(Continued)確認收益的時間（續）Over time於時間段確認Brand Licen

294、sing Business品牌授權業務Sub-licensing of brands品牌再授權41,73630,182Provision of licensing agency services提供授權代理服務10,20013,026 51,93643,208 294,044246,853 Excluded fair value changes in investments in media contents,net5.OTHER INCOME AND GAINS,NETSix months ended 30 September截至9月30日止六個月20242023(Unaudited)(Un

295、audited)（未經審核）（未經審核）HK$000HK$000千港元千港元Bank interest income銀行利息收入4,5233,685Foreign exchange differences,net匯兌差額淨額3,225Government subsidies(note)政府補貼（附註）384Other interest income其他利息收入383Interest on a convertible bond投資可換股債劵利息17682Others其他63450 9,3253,817 Note:There were no unfulfilled conditions or co

296、ntingencies relating to these subsidies.不包括投資媒體內容之公平值變動淨額5.其他收入及收益淨額附註：有關補貼並不存在任何未履行的條件或附加條件。4.REVENUE(Continued)4.收益（續）50MEDIALINK GROUP LIMITED 2025 Interim ReportFor the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註

297、6.PROFIT BEFORE TAXThe Groups profit before tax is arrived at after charging/(crediting):Six months ended 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$000千港元千港元Cost of goods sold and services rendered所售貨品及所提供服務 的成本145,867123,453Depreciation:折舊：Right-of-use assets使用權資產2,7

298、022,755Other items of property,plant and equipment物業、廠房及設備其他 項目7251,093 3,4273,848 Amortisation of intangible assets#無形資產攤銷#5522,753Lease payments not included in the measurement of lease liabilities未計入租賃負債計量的 租賃付款349251Employee benefit expense(including directors remuneration):僱員福利開支（包括董事 薪酬）：Salar

299、ies,wages,allowances and bonuses薪金、工資、津貼及 花紅34,65237,663Pension scheme contributions(defined contribution schemes)退休計劃供款（定額 供款計劃）2,6942,454Share-based payment expenses以股份為基礎之付款 開支1,7353,752 39,08143,869 Foreign exchange differences,net匯兌差額淨額(3,225)4,675Impairment of trade receivables*貿易應收款項減值*302920

300、Reversal of impairment of trade receivables*貿易應收款項減值撥回*(185)(283)Write-down of licensed rights to net realisable value,net*授權撇減至可變現淨值 淨額*2,25011,692Finance cost interest on lease liabilities融資成本租賃負債利息133145Write-back of trade payables貿易應付款項撥回(1,527)Other operating loss*其他經營虧損*21,372 *These amounts a

301、re included in“Other expenses,net”in the interim condensed consolidated statement of profit or loss.#Included HK$506,000(six months ended 30 September 2023:HK$2,666,000)related to amortisation of media content commercial rights which are included in“cost of sales”in the interim condensed consolidate

302、d statement of profit or loss.There are no forfeited contributions that may be used by the Group as the employer to reduce the existing level of contributions.6.除稅前溢利本集團除稅前溢利乃扣除（計入）下列各項後得出：*該等金額於中期簡明綜合損益表計入 其他開支淨額。#包括有關媒體內容商業權利攤銷506,000港 元（截 至2023年9月30日 止 六 個 月：2,666,000港元），計入中期簡明綜合損益表 銷售成本。概無已沒收的供款

303、可供本集團作為僱主用以降低現有供款水平。2025中期報告 羚邦集團有限公司51For the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註6.PROFIT BEFORE TAX(Continued)During the six months ended 30 September 2024,the Group identified a cybersecurity incident whic

304、h resulted in payments made to falsified bank accounts.The Group promptly reported to the police,engaged independent cybersecurity experts to conduct investigation,and sought legal advice.Based on the continuing investigation and the information currently available,the board of the Company considers

305、 there is an estimated loss of HK$21,372,000 and it was charged to the interim condensed consolidated statement of profit or loss for the six months ended 30 September 2024.7.INCOME TAXHong Kong profits tax has been provided at the rate of 16.5%(six months ended 30 September 2023:16.5%)on the estima

306、ted assessable profits arising in Hong Kong during the period,except for one subsidiary of the Group which is a qualifying entity under the two-tiered profits tax rates regime.The first HK$2,000,000(six months ended 30 September 2023:HK$2,000,000)of assessable profits of that subsidiary are taxed at

307、 8.25%(six months ended 30 September 2023:8.25%)and the remaining assessable profits are taxed at 16.5%(six months ended 30 September 2023:16.5%).Taxes on profits assessable elsewhere have been calculated at the rates of tax prevailing in the jurisdictions in which the Group operates.Six months ende

308、d 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$000千港元千港元Current Hong Kong即期 香港Charge for the period期內支出3,6995,589Overprovision in prior years以往年度超額撥備(237)Current Elsewhere即期 其他地區Charge for the period期內支出3,894482Deferred遞延6(35)Total tax charge for the period期內稅項支出總額7,5995

309、,799 6.除稅前溢利（續）截 至2024年9月30日止 六個 月，本 集 團發現一宗網絡安全事件，導致本集團付款匯至假冒的銀行帳戶。本集團已即時報警，委聘獨立網絡安全專家調查並尋求法律意見。根據正在調查中及目前可得的資料，本公司董事會估計虧損21,372,000港 元，並已計入截 至2024年9月30日止六個月的中期簡明綜合損益表。7.所得稅香港利得稅已按期內於香港產生的估計應課稅溢利的16.5%（截至2023年9月30日止六個月：16.5%）計提撥備，惟本集團一間附屬公司除外，該附屬公司為符合兩級制利得稅率制度的實體。該附屬公司應課稅溢利的首2,000,000港元（截至2023年9月30

310、日止六 個 月：2,000,000港 元）按8.25%（截至2023年9月30日止六個月：8.25%）稅率課稅，而餘下應課稅溢利按16.5%（截至2023年9月30日止六個月：16.5%）課稅。其他地區的應課稅溢利已按本集團經營所在的司法權區的現行稅率計算稅項。52MEDIALINK GROUP LIMITED 2025 Interim ReportFor the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中

311、期簡明綜合財務資料附註8.DIVIDENDSSix months ended 30 September截至9月30日止六個月20242023(Unaudited)(Unaudited)（未經審核）（未經審核）HK$000HK$000千港元千港元Dividend declared and recognised as distribution during the Reporting Period:報告期內宣派及確認為分派的股息：Final dividend for year ended 31 March 2024 HK 0.32 cent(year ended 31 March 2023:HK

312、0.42 cent)per ordinary share截至2024年3月31日止年度末期股息 每股普通股0.32港仙（截至2023年3月31日止年度：0.42港仙）6,3748,366Special dividend for the year ended 31 March 2024 HK 0.02 cent(year ended 31 March 2023:Nil)per ordinary share截至2024年3月31日止年度 特別股息 每股普通股0.02港仙（截至2023年3月31日止年度：無）398Less:Dividend for shares held under the sha

313、re award scheme減：根據股份獎勵計劃持有的股份的股息(272)(291)6,5008,075 Interim dividend declared after the end of the Reporting Period:報告期末後宣派的中期股息：For year ending 31 March 2025 HK 1.09 cent(year ended 31 March 2024:HK 0.89 cent)per ordinary share截至2025年3月31日止年度 每股普通股1.09港仙（截至2024年3月31日止年度：0.89港仙）21,71317,729 The in

314、terim dividend for the years ending/ended 31 March 2025 and 2024 was not recognised as a liability as at 30 September 2024 and 2023,respectively because it has been declared after the end of the Reporting Period.8.股息截至2025年及2024年3月31日止年度的中期股息分別於2024年及2023年9月30日並未確認為負債，原因是其已於報告期末後獲宣派。2025中期報告 羚邦集團有限公

315、司53For the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註9.EARNINGS PER SHARE ATTRIBUTABLE TO SHAREHOLDERS OF THE COMPANYThe calculation of basic earnings per share for the six months ended 30 September 2024 is based on

316、 the profit for the period attributable to shareholders of the Company of HK$42,393,000(six months ended 30 September 2023:HK$36,198,000),and the weighted average number of ordinary shares of 1,916,856,566(six months ended 30 September 2023:1,917,875,175)in issue during the period as adjusted to exc

317、lude the shares held under the share award scheme of the Company.No adjustment has been made to the basic earnings per share presented for the six months ended 30 September 2024 and 2023 as the Group had no potentially dilutive ordinary shares in issue during those periods.10.PROPERTY,PLANT AND EQUI

318、PMENTDuring the six months ended 30 September 2024,the Group acquired other items of property,plant and equipment of HK$345,000(six months ended 30 September 2023:HK$782,000)and recognised right-of-use assets of HK$644,000(six months ended 30 September 2023:HK$354,000).Right-of-use assets amounting

319、to HK$8,011,000(31 March 2024:HK$10,069,000)were included in property,plant and equipment as at 30 September 2024.9.本公司股東應佔每股盈利 截至2024年9月30日止 六個月的每股基 本 盈 利 乃 基 於本 公司 股 東 應 佔期 內 未 經 審 核 綜 合 溢 利42,393,000港元（截至2023年9月30日止六個月：36,198,000港 元）和 本 公司 期內已發行 普 通 股 加 權 平 均 數1,916,856,566股（截 至2023年9月30日 止 六 個 月

320、：1,917,875,175股）（經 調 整以排 除 根 據本公司股份獎勵計劃持有的股份）計算。由 於 截 至2024年及2023年9月30日止六個月本集團並無具潛在攤薄效應的已發行普通股，故並無調整所呈列的該等期間的每股基本盈利。10.物業、廠房及設備截 至2024年9月30日止 六個月，本 集團 收 購345,000港 元（截 至2023年9月30日止六個月：782,000港元）之物業、廠房及設備其他項目，增加644,000港元使用權資產（截至2023年9月30日止六個月：354,000港元）。於2024年9月30日，使用權資產8,011,000港元（2024年3月31日：10,069,0

321、00港元）計入物業、廠房及設備。54MEDIALINK GROUP LIMITED 2025 Interim ReportFor the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註11.INVESTMENT IN A CONVERTIBLE BONDAs at 30 September2024As at 31 March2024於2024年9月30日於2024年3月31日(Unaudi

322、ted)(Audited)（未經審核）（經審核）HK$000HK$000千港元千港元Investment in a convertible bond,at fair value投資可換一隻股債券，按公平值計量5,7435,369 The above unlisted investment represents S$1,000,000 6%convertible bonds due 2026(“Convertible Bond”)issued by an independent third party(the“CB issuer”).According to the subscription a

323、greement,the Group has the right(i)to convert the entire principal amount of the Convertible Bond together with accrued but unpaid interest into such number of conversion shares at an issue price with a discount to the price at which the CB issuers shares are offered in the initial public offering(“

324、IPO”),prior to or on the date of launch of the IPO;and(ii)to subscribe for further convertible bonds of principal amount of up to S$1,000,000(“Call Option”).The Group did not exercise the Call Option within the exercisable period(i.e.,within six months from 30 June 2023).The Convertible Bond is unse

325、cured,bearing interest at 6.0%per annum and will mature on 6 July 2026.11.投資可換股債券 上述非上市投資為一名獨立第三方（可換 股 債 券發行人）發 行於2026年 到 期 的6厘 可 換 股 債 券，總 值1,000,000新加坡元（可換股債券）。根據認購協議，本集團有權(i)於首次公開發售（首次公開發售）開始日期或之前按發行價（較首次公開發售提呈發售的可換股債券發行人股份價格有所折讓）轉換可換股債券的本金全額連同應計及未付利息為有關數目的可換股股份及(ii)認購本金額最多為1,000,000新加坡元的額外可換股債券（

326、認購期權）。本集團沒有於行使期間（即於2023年6月30日起六個月內）行使認購期權?？蓳Q股債券屬無抵押，按年利率6.0%計息及於2026年7月6日到期。2025中期報告 羚邦集團有限公司55For the six months ended 30 September 2024截至2024年9月30日止六個月Notes to the Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註11.INVESTMENT IN A CONVERTIBLE BOND(Continued)The Convertible Bond is

327、classified as financial assets at fair value through profit or loss as their contractual cash flows are not solely payments of principal and interest.The Group has engaged an independent firm of professionally qualified valuer to perform a valuation on the fair value of the Convertible Bond as at 30

328、 September 2024 which is estimated to be S$946,000(approximately HK$5,743,000)(31 March 2024:S$926,000(approximately HK$5,369,000),resulting in a fair value gain of HK$374,000(six months ended 30 September 2023:HK$1,260,000)credited to profit or loss for the Reporting Period.12.LICENSED ASSETSAs at

329、30 September2024As at 31 March2024於2024年9月30日於2024年3月31日(Unaudited)(Audited)（未經審核）（經審核）HK$000HK$000千港元千港元Licensed rights授權400,182346,592Prepayments for licensed rights授權預付款項2,90513,337 403,087359,929 Licensed assets represent payments to licensors in connection with the cost to obtain media content

330、distribution rights and brand licensing rights over a definitive licensing period.These licensed assets are held to generate revenue in the ordinary course of the Groups businesses.11.投資可換股債券（續）由於可換股債券的合約現金流量並非僅為本金及利息付款，其被分類為按公平值計入損益的金融資產。本集團已委任獨立專業合資格估值師行就可換股債券於2024年9月30日的公平值進行估值，估計為946,000新加 坡 元（約

331、5,743,000港 元）（2024年3月31日：926,000新 加 坡 元（約5,369,000港元），導 致於報告期錄得公 平 值收益374,000港元（截至2023年9月30日止 六個月：1,260,000港元）入賬 至損益。12.授權資產 授權資產為向授權方支付有關於明確授權期內取得媒體內容發行權及品牌授權的成本。本集團持有該等授權資產以於日常業務中產生收益。56MEDIALINK GROUP LIMITED 2025 Interim ReportFor the six months ended 30 September 2024截至2024年9月30日止六個月Notes to th

332、e Interim Condensed Consolidated Financial Information中期簡明綜合財務資料附註13.TRADE RECEIVABLESAs at 30 September2024As at 31 March2024於2024年9月30日於2024年3月31日(Unaudited)(Audited)（未經審核）（經審核）HK$000HK$000千港元千港元Billed已開票168,908218,744Unbilled未開票45,97413,189 214,882231,933Less:Allowance for impairment減：減值撥備(8,242)

333、(8,130)206,640223,803 The Groups trading terms with its customers are mainly on credit.For the Media Content Distribution Business,the payment terms with each customer are generally of two to four payments with the first payments usually due upon the Groups issuance of the letters of authorisation relating to the media content to the respective customer.The credit periods generally range from 30 t