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LONDON - Grand Vision Media Holdings plc (GVMH) reported a 17.36% decrease in revenue to HKD1.55 million for the first half of 2025, according to a press release issued Wednesday. The company posted a loss after tax of HKD1.74 million, an improvement from the HKD2.29 million loss recorded in the same period last year.
The media company, which operates primarily in Hong Kong and China, attributed the continued financial struggles to lower-than-expected tourism recovery and adverse effects from the global political situation. Local consumer spending was also impacted by Hong Kong consumers increasingly traveling to the Greater China region for lower-cost and more varied products.
"Our focus remains tight cost control to minimise operational costs and generate the new business income stream wherever possible," said Jonathan Lo, Chief Executive Officer of GVMH.
The company’s gross profit for the six-month period ended June 30 was HKD453,000, down from HKD513,000 in the first half of 2024. Administrative expenses decreased to HKD2.19 million from HKD2.50 million in the comparable period.
GVMH stated it intends to re-finance through shareholder loans to provide adequate working capital and funding for potential new business streams. The company plans to continue focusing on its core strategy of providing marketing and cross-border e-commerce solutions while exploring new business areas including deal brokering through its international network.
The company’s cash and cash equivalents stood at HKD28,000 as of June 30, 2025, compared to HKD4,000 at the same point in 2024. Total assets decreased to HKD709,000 from HKD1.87 million year-over-year.
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