Grand Vision Media Holdings Plc - Half-year Report

Grand Vision Media Holdings Plc - Half-year Report

PR Newswire

LONDON, United Kingdom, October 01

London, 1 October 2025
FOR IMMEDIATE RELEASE

Grand Vision Media Holdings plc
( "GVMH" or the "Company")

Half Year Report

Grand Vision Media Holdings plc announces its half year report for the six months ended 30 June 2025.

The CEO's Report

Overview

The struggles of year 2024 have persisted throughout the first half of 2025. The anticipated recovery of tourism was below market expectations and adversely affected by the global political situation. Local consumer expenditure was also impacted by the growing trend of Hong Kong consumers going to Greater China region with a lower cost and better variety of products.

Summary of Trading Results

Revenue in the period was HKD1,552K [2024: HKD1,878K], which represents a decrease of 17.36%. The Group had a loss after tax of HKD1,738K [2024: HKD2,288K]. Our focus remains tight cost control to minimise operational costs and generate the new business income stream wherever possible.

Outlook

The economy and market conditions are increasingly volatile. However, we intend to stay focus on our core strategy of providing solutions and services in marketing and cross border e commerce. We also intend to explore new business areas including brokering and facilitating deals via our extensive international network. We intend to re-finance the Group through shareholder loan which provides adequate working capital and also provide funding for potential new business streams.

GRAND VISION MEDIA HOLDINGS PLC ("THE GROUP")

Responsibility Statement

We confirm that to the best of our knowledge:

a. the condensed set of financial statements has been prepared in accordance with IAS 34 'Interim Financial Reporting';

b. the interim management report includes a fair review of the information required by DTR 4.2.7R (indication of important events during the first six months and description of principal risks and uncertainties for the remaining six months of the year; and,

c. the interim management report includes a fair review of the information required by DTR 4.2.8R (disclosure of related parties' transactions and changes therein).

Cautionary statement

This Interim Management Report (IMR) has been prepared solely to provide additional information to shareholders to

assess the Company's strategies and the potential for those strategies to succeed. The IMR should not be relied on by

any other party or for any other purpose.

The condensed accounts have not been reviewed by the auditors.

Jonathan Lo

Chief Executive Officer

Date: 30 September 2025

Interim Condensed Statement of Comprehensive Income

	Notes	GVMH 6 months Ended 30 June 2025 (unaudited)	GVMH 6 months Ended 30 June 2024 (unaudited)	GVMH Year End 31 December 2024 (audited)
		HK$'000	HK$'000	HK$'000
Turnover		1,552	1,878	3,431
Cost of Sales		(1,099)	(1,365)	(2,653)
Gross Profit		453	513	778
Other Income / Expenditure		-	(1)	7
Administrative expenses		(2,188)	(2,503)	(6,294)
Impairment loss on trade receivables		-	-	(1,123)
Depreciation		(3)	(293)	-
Operating Loss		(1,738)	(2,284)	(6,632)
Finance Cost		-	(4)	(6)
Loss before taxation		(1,738)	(2,288)	(6,638)
Tax on ordinary activities		-	-	-
Loss after taxation		(1,738)	(2,288)	(6,638)
Exchange difference arising on Translation		346	(162)	437
Loss and total comprehensive loss for the period		(1,392)	(2,450)	(6,201)
Loss attributable to:
Equity holders of the Company		(1,773)	(2,129)	(6,226)
Non-controlling interests		35	(159)	(412)
		(1,738)	(2,288)	(6,638)
Total comprehensive loss attributable to:
Equity holders of the Company		(1,427)	(2,291)	(5,789)
Non-controlling interests		35	(159)	(412)
		(1,392)	(2,450)	(6,201)
Basic and diluted earnings per share (HK$)	5	(0.02)	(0.02)	(0.06)

Interim Condensed Statement of the Financial Position

	Notes	GVMH 30 June 2025 (unaudited)	GVMH 30 June 2024 (unaudited)	GVMH 31 December 2024 (audited)
		HK$'000	HK$'000	HK$'000
Assets
Non-Current Assets
Property, plant and equipment		8	14	11
Right of use assets		-	240	-
Total Non-Current Asset		8	254	11
Current assets
Trade and Other Receivables		560	1,448	213
Deposits and Pre-Payments		113	167	192
Cash and Cash Equivalents		28	4	11
Total Current Assets		701	1,619	416
Total Assets		709	1,873	427
Equity and Liabilities
Share Capital	6	14,064	14,064	14,064
Share Premium Account	6	47,020	47,020	47,020
Group Re-organization Reserve		(12,460)	(12,460)	(12,460)
Capital Contribution arising from Shareholder's Loan		844	844	844
Exchange and Other Reverses		(244)	899	1,165
Non-Controlling Interest		(970)	(752)	(1,005)
Accumulated deficit		(103,054)	(97,184)	(101,281)
Total Equity		(54,800)	(47,569)	(51,653)
Liabilities
Non-Current Liabilities
Convertible Bonds		6,068	5,563	5,232
Shareholders loans		803	714	953
Total Non-Current Liabilities		6,871	6,277	6,185
Current Liabilities
Trade and Other Payables		12,084	15,420	10,910
Bank overdraft		111	-	-
Amount Due to Directors		15,048	6,069	13,525
Lease Liability		-	244	-
Deposits Received		8	45	73
Shareholder loan		21,387	21,387	21,387
Total Current Liability		48,638	43,165	45,895
Total Liabilities		55,509	49,442	52,080
Total Equity and Liabilities		709	1,873	427

Interim Condensed Statement of Changes in Equity

	Share capital	Share premium	Reverse Acquisition reserve	Other reserve	Exchange reserve	Capital contribution reserves	Accumulated deficit	Total	Non-controlling interests	Total equity
	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000
GVMH PLC
Balance at 1 January 2024	14,064	47,020	(12,460)	1,335	(607)	844	(95,055)	(44,859)	(593)	(45,452)
Loss for the period	-	-	-	-	-	-	(2,129)	(2,129)	-	(2,129)
Exchange Reserve	-	-	-	-	171	-	-	171	-	171
Non-Controlling Interest	-	-	-	-	-	-	-	-	(159)	(159)
Total comprehensive income	-	-	-	-	171	-	(2,129)	(1,958)	(159)	(2,117)
Balance at 30 June 2024	14,064	47,020	(12,460)	1,335	(436)	844	(97,184)	(46,817)	(752)	(47,569)
Loss for the period	-	-	-	-	-	-	(4,097)	(4,097)	-	(4,097)
Exchange Reserve	-	-	-	-	266	-	-	266	-	266
Non-Controlling Interest	-	-	-	-	-	-	-	-	(253)	(253)
Total comprehensive income	-	-	-	-	266	-	(4,097)	(3,831)	(253)	(4,084)
Balance at 31 DECEMBER 2024	14,064	47,020	(12,460)	1,335	(170)	844	(101,281)	(50,648)	(1,005)	(51,653)
Loss for the period	-	-	-	-	-	-	(1,773)	(1,773)	-	(1,773)
Exchange Reserve	-	-	-	-	(1,409)	-	-	(1,409)	-	(1,409)
Non-Controlling Interest	-	-	-	-	-	-	-	-	35	35
Total comprehensive income	-	-	-	-	(1,409)	-	(1,773)	(3,182)	35	(3,147)
Balance at 30 June 2025	14,064	47,020	(12,460)	1,335	(1,579)	844	(103,054)	(53,830)	(970)	(54,800)

Share capital is the amount subscribed for shares at nominal value.

The share premium has arisen on the issue of shares at a premium to their nominal value.

Retained losses represent the cumulative loss of the Company attributable to equity shareholders.

Interim Condensed Cash Flow Statement

		GVMH 6 Months Ended 30 June 2025 (unaudited)		GVMH 6 Months Ended 30 June 2024 (unaudited)		GVMH For the year ended 31 December 2024 (audited)
		HK$'000		HK$'000		HK$'000
Cash flows from operating activities
Operating loss		(1,738)		(2,288)		(6,638)
Add: Depreciation		3		293		536
Add: Finance Cost		-		4		6
Add: Impairment of receivables		-		-		1,123
Changes in working capital		(1,735)		(1,991)		(4,973)
(Increase) / Decrease in receivables		(347)		(49)		63
Decrease in deposits and prepayments		79		68		43
Increase / (Decrease) in payables		1,174		652		(3,858)
Increase / (Decrease) in deposit received		(65)		44		72
Net cash flow used in operating activities		(894)		(1,276)		(8,653)
Cash flows from investing activities:
Payment for purchase of property, plant and equipment		-		-		-
Net cash outflow from investing activities		-		-		-
Cash flows from financing activities:
Principal & Interest portion of lease payment		-		(293)		(539)
Bank overdraft utilised		111		-		-
Increase in an amount due to directors		1,523		1,143		8,599
Net cash generated from financing activities		1,634		850		8,060
Net cash outflow for the period		740		(426)		(593)
Opening Cash and cash equivalents		11		291		291
Effect on Foreign exchange rate changes		(723)		139		313
Closing Cash and cash equivalents		28		4		11

Notes to the Interim Condensed Financial Statements

1. General Information

GRAND VISION MEDIA HOLDINGS PLC ('the Company') is a media company incorporated in the United Kingdom. Details of the registered office, the officers and advisers to the Company are presented on the Directors and Advisers page at the end of this report. The information within these interim condensed financial statements and accompanying notes must be read in conjunction with the audited annual financial statements that have been prepared for the year ended 31 December 2024.

2. Basis of Preparation

These unaudited condensed consolidated interim financial statements for the six months ended 30 June 2024 were approved by the board and authorised for issue on 30 September 2025.

The basis of preparation and accounting policies set out in the Annual Report and Accounts for the year ended 31 December 2024 have been applied in the preparation of these condensed interim financial statements. These interim financial statements have been prepared in accordance with the recognition and measurement principles of the International Financial Reporting Standards ("IFRS") as endorsed by the EU that are expected to be applicable to the financial statements for the year ending 31 December 2025 and on the basis of the accounting policies expected to be used in those financial statements.

The figures for the six months ended 30 June 2025 and 30 June 2024 are unaudited and do not constitute full accounts. The comparative figures for the year ended 31 December 2024 are extracts from the 2024 audited accounts. The independent auditor's report on the 2024 accounts was not qualified.

The assets and liabilities of the legal subsidiary, GVC Holdings Limited are recognized and measured in the Group financial statements at the pre-combination carrying amounts, without restatement of fair value. The retained earnings and other equity balances recognized in the Group financial statements reflect the retained earnings and other equity balances of Grand Vision Media Holdings plc immediately before the reverse and the results of the period from 1 January 2025 to 30 June 2025 and post reverse.

Standards and Interpretations adopted with no material effect on financial statements

There are no other IFRS or IFRIC interpretations that are not yet effective that would be expected to have material impact on the Group.

3. Segmental Reporting

In the opinion of the Directors, the Company has one class of business, being that of out of home media and marketing and operates in the Peoples Republic of China/Hong Kong.

4. Company Result for the period

The Company has elected to take the exemption under section 408 of the Companies Act 2006 not to present the parent Company income statement account.

The operating loss of the Company for the six months ended 30 June 2025 was HK$372k (2024:
loss of HK$607k, year ended 31 December 2024: HK$1,864k). The current period operating loss incorporated the following main items:

	Company GVMH 30 June 2025	Company GVMH 30 June 2024	Company GVMH 31 December 2024
	(unaudited)	(unaudited)	(audited)
	HK$'000	HK$'000	HK$'000
Employment expenses	301	297	599
Legal and professional fees	71	310	519
Other expenses	-	-	746
Total	372	607	1,864

5. Earnings per Share

Earnings per share data is based on the Group result for the six months and the weighted average number of shares in issue.

Basic loss per share is calculated by dividing the loss attributable to equity shareholders by the weighted average number of ordinary shares in issue during the period:

	GVMH 30 June 2025 (unaudited)	GVMH 30 June 2024 (unaudited)	GVMH 31 December 2024 (audited)
	HK$	HK$	HK$
Loss attributable to equity holder of parent	(1,773,000)	(2,129,000)	(6,226,000)
Weighted average number of ordinary shares in issue	96,287,079	96,287,079	96,287,079
Basic and diluted loss per share	(0.02)	(0.02)	(0.06)

Basic and diluted earnings per share are the same, since where a loss is incurred the effect of outstanding share options and warrants is considered anti-dilutive and is ignored for the purpose of the loss per share calculation. There were no potential dilutive shares in issue during the period.

6. Share Capital

Ordinary shares of the Company are classified as equity. Proceeds from issuance of ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of new ordinary shares are deducted against share capital.

Allotted, called up and fully paid ordinary shares of 10p each	Number of shares	Share Capital	Share Capital	Share Premium	Share Premium
		£	HK$	£	HK$
Balance at 31 December 2023 (audited)	96,287,079	9,628,708	96,017,186	4,422,954	44,105,565
Balance at 30 June 2024 (unaudited)	96,287,079	9,628,708	96,017,186	4,422,954	44,105,565
Balance at 31 December 2024 (audited)	96,287,079	9,628,708	96,017,186	4,422,954	44,105,565
Balance at 30 June 2025 (unaudited)	96,287,079	9,628,708	96,017,186	4,422,954	44,105,565

7. Events Subsequent to 30 June 2025

There were no events subsequent to the balance sheet date.

8. Reports

This interim condensed financial statements will be available shortly on the Company website at www.gvmh.co.uk

For more information contact:

Grand Vision Media Holdings plc Jonathan Lo, Director	http://gvmh.co.uk/ Tel: [phone] or [e-mail]

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