TIDMGVMH 
 
London, 28 April 2023 
FOR IMMEDIATE RELEASE 
 
 
                        Grand Vision Media Holdings plc 
                          ( "GVMH" or the "Company") 
 
                             Audited Final Results 
 
Grand Vision Media Holdings plc announces its audited final results for the 
year ended 31 December 2022. 
 
The CEO Report 
 
2022 was another tough year for the Group as Hong Kong and China was still 
under the impact of COVID restrictions?With the gradual re-opening of the 
borders in Hong Kong and China in latter half of Q1 2023, we are expecting to 
resume our normal business starting from Q2 of 2023 
 
Summary of Trading Results 
 
Total revenue for the year was HK$3,974K (2021: HK$3,039K], a rise of 31% 
compared to the prior year. This was again adversely impacted from historic 
levels due to the ongoing disruption from COVID restrictions, although an 
improvement from the prior year. 
 
The total comprehensive loss for the year was HK$5,716K (2021: HK$6,184K). 
Again, this was as a direct result of the reduction is revenues across the 
Group resulting from COVID restrictions. Costs have been controlled wherever 
possible. 
 
COVID-19 continues to have a significant adverse effect on the Group's 
performance in 2022. China was under very strict lock down rules and 
international travel has been practically suspended. 
 
Cash in hand at the end of the year was HK$258K. The Group continues to manage 
its cash within its available resources. 
 
Outlook 
 
With the reopening of the borders, we are also seeing the resumption of 
marketing activities targeted at travellers from China.  We  have also  begun 
work to resume the projects that were put on hold due to the business 
disruption. This includes the new initiative of international brand management 
and expansion whereby we help brands expand to new geographies.  We help our 
clients develop international expansion strategies and assist in the 
implementation covering both direct expansion or via overseas partners and 
distributors. 
 
During COVID, we developed new connections in the wholesale and trading 
sectors, namely commodities and environmentally friendly products.  We hope to 
leverage off these connections in the coming periods. 
 
We are also developing new revenue streams via short video marketing and live 
streaming sales on social media platforms such as Tik Tok (Douyin) in China. 
We are also planning to revive the OOH revenue in China and we plan to develop 
more interactive marketing campaigns leveraging the cinema space. 
 
These will shortly be available (along with the Company's 2022 Annual Report) 
to download on the Company's website at https://www.gvmh.co.uk/tag/ 
financial-information/. 
 
For more information contact: 
 
Grand Vision Media Holdings plc                  gvmh.co.uk/ 
Jonathan Lo, Director                            Tel: +44 (0) 20 7866 2145 
                                                 or info@gvmh.co.uk 
 
 
 
END

(END) Dow Jones Newswires

April 28, 2023 07:41 ET (11:41 GMT)

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