London, 30 September 2026
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 2026.
The CEO's Report
Overview
The overall economy remains volatile although we see some improvements in the
local economy. However, our customers are still very cautious on marketing
budgets as the global scene remain volatile. We continue to manage costs
carefully and considering diversification through strategic partnerships and
investments into new domains.
Summary of Trading Results
Revenue in the period was HKD1,063K [2025: HKD1,552K], which represents a
decrease of 31.51%. The Group had a loss after tax of HKD2,222K [2025:
HKD1,738K]. The Group continued its focus on cost controls whilst exploring
alternative revenue streams and new projects.
Outlook
In the first six month of 2026, the economy and global market conditions remain
volatile. We continue to manage costs and explore new revenue streams. We
intend to re-finance the Group through shareholder loan which provides adequate
working capital. We are also seeking new projects to diversify our business to
lessen the dependency on local markets.
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 : 29 September 2026
Interim Condensed Statement of Comprehensive Income
Notes GVMH GVMH GVMH
6 months Ended 6 months Ended Year End
30 June 30 June 31 December
2026 2025 2025
(unaudited) (unaudited) (audited)
HK$'000 HK$'000 HK$'000
Turnover 1,063 1,552 3,773
Cost of Sales (1,102) (1,099) (2,991)
Gross (Loss) / Profit (39) 453 782
Other Income / - - -
Expenditure
Administrative expenses (2,180) (2,188) (5,675)
Depreciation (3) (3) (6)
Operating Loss (2,222) (1,738) (4,899)
Finance Cost - - -
Loss before taxation (2,222) (1,738) (4,899)
Tax on ordinary - - -
activities
Loss after taxation (2,222) (1,738) (4,899)
Exchange difference (70) 346 (1,140)
arising on Translation
Loss and total (2,292) (1,392) (6,039)
comprehensive loss for
the period
Loss attributable to:
Equity holders of the (2,033) (1,773) (4,833)
Company
Non-controlling (189) 35 (66)
interests
(2,222) (1,738) (4,899)
Total comprehensive loss
attributable to:
Equity holders of the (2,103) (1,427) (5,973)
Company
Non-controlling (189) 35 (66)
interests
(2,292) (1,392) (6,039)
Basic and diluted 5 (0.02) (0.02) (0.05)
earnings per share (HK$)
Interim Condensed Statement of the Financial Position
Notes GVMH GVMH GVMH
30 June 30 June 31 December 2025
2026 2025 (audited)
(unaudited) (unaudited)
HK$'000 HK$'000 HK$'000
Assets
Non-Current Assets
Property, plant and 2 8 5
equipment
Total Non-Current Asset 2 8 5
Current assets
Trade and Other 878 560 303
Receivables
Deposits and Prepayments 173 113 179
Cash and Cash Equivalents 132 28 183
Total Current Assets 1,183 701 665
Total Assets 1,185 709 670
Equity and Liabilities
Share Capital 6 14,064 14,064 14,064
Share Premium Account 6 47,020 47,020 47,020
Group Re-organization (12,460) (12,460) (12,460)
Reserve
Capital Contribution 844 844 844
arising from Shareholder's
Loan
Other Reserve 1,335 1,335 1,335
Exchange Reserve (1,380) (1,579) (1,310)
Non-Controlling Interest (1,260) (970) (1,071)
Accumulated deficit (108,147) (103,054) (106,114)
Total Equity (59,984) (54,800) (57,692)
Liabilities
Non-Current Liabilities
Convertible Bonds - 6,068 -
Shareholders loans 1,025 803 1,025
Total Non-Current 1,025 6,871 1,025
Liabilities
Current Liabilities
Trade and Other Payables 13,593 12,084 12,571
Bank overdraft - 111 -
Amount Due to Directors 19,583 15,048 17,764
Convertible loans 5,570 - 5,615
Deposits Received 11 8 -
Shareholder loan 21,387 21,387 21,387
Total Current Liability 60,144 48,638 57,337
Total Liabilities 61,169 55,509 58,362
Total Equity and 1,185 709 670
Liabilities
Interim Condensed Statement of Changes in Equity
Share Share Reverse Other Exchange Capital
Accumulated Total Non Total
capital premium Acquisition reserve reserve contribution
deficit -controlling equity
reserve reserves
interests
HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000
HK$'000 HK$'000 HK$'000 HK$'000
GVMH PLC
Balance at 31 14,064 47,020 (12,460) 1,335 (170) 844
(101,281) (50,648) (1,005) (51,653)
DECEMBER 2024
Loss for the - - - - - -
(1,773) (1,773) - (1,773)
period
Exchange - - - - (1,409) - -
(1,409) - (1,409)
difference
arising on
Translation
Non - - - - - - -
- 35 35
-Controlling
Interest
Total - - - - (1,409) -
(1,773) (3,182) 35 (3,147)
comprehensive
income
Balance at 30 14,604 47,020 (12,460) 1,335 (1,579) 844
(103,054) (53,830) (970) (54,800)
June
2025
Loss for the - - - - - -
(3,060) (3,060) - (3,060)
period
Exchange - - - - 269 - -
269 - 269
difference
arising on
Translation
Non - - - - - - -
- (101) (101)
-Controlling
Interest
Total - - - - 269 -
(3,060) (2,791) (101) (2,892)
comprehensive
income
Balance at 31 14,064 47,020 (12,460) 1,335 (1,310) 844
(106,114) (56,621) (1,071) (57,692)
DECEMBER 2025
Loss for the - - - - - -
(2,033) (2,033) - (2,033)
period
Exchange - - - - (70) - -
(70) - (70)
difference
arising on
Translation
Non - - - - - - -
- (189) (189)
-Controlling
Interest
Total - - - - (70) -
(2,033) (2,103) (189) (2,292)
comprehensive
income
Balance at 30 14,064 47,020 (12,460) 1,335 (1,380) 844
(108,147) (58,724) (1,260) (59,984)
June
2026
Share capital is the amount subscribed for shares at nominal value.
The share premium has arisen on the issue of shares at a premium to their
nominal value.
Retained losses represent the cumulative loss of the Company attributable to
equity shareholders.
Interim Condensed Cash Flow Statement
GVMH GVMH GVMH
6 Months 6 Months For the
Ended30 Ended30 year
June 2026 June 2025 ended 31
December
(unaudited) (unaudited) 2025
(audited)
HK$'000 HK$'000 HK$'000
Cash flows from
operating activities
Operating loss (2,222) (1,738) (4,899)
Add: Depreciation 3 3 6
Changes in working (2,219) (1,735) (4,893)
capital
Increase in (575) (347) (90)
receivables
Decrease in deposits 6 79 13
and prepayments
Increase in payables 1,022 1,174 1,661
Increase / (Decrease) 11 (65) (73)
in deposit received
Net cash flow used in (1,755) (894) (3,382)
operating activities
Cash flows from
financing activities:
Bank overdraft - 111 -
utilised
Increase in an amount 1,819 1,523 4,239
due to directors
Net cash generated 1,819 1,634 4,239
from financing
activities
Net cash outflow for 64 740 857
the period
Opening Cash and cash 183 11 11
equivalents
Effect on Foreign (115) (723) (685)
exchange rate changes
Closing Cash and cash 132 28 183
equivalents
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 2025.
2.Basis of Preparation
These unaudited condensed consolidated interim financial statements for the six
months ended 30 June 2026 were approved by the board and authorised for issue on
29 September 2026.
The basis of preparation and accounting policies set out in the Annual Report
and Accounts for the year ended 31 December 2025 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 2026 and 30 June 2025 are unaudited
and do not constitute full accounts. The comparative figures for the year ended
31 December 2025 are extracts from the 2025 audited accounts. The independent
auditor's report on the 2025 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 2026
to 30 June 2026 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 People's 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 2026 was
HK$613k (2025:
loss of HK$372k, year ended 31 December 2025: HK$2,091k). The current period
operating loss incorporated the following main items:
Company Company Company
GVMH GVMH GVMH
30 June 2026 30 June 2025 31 December 2025
(unaudited) (unaudited) (audited)
HK$`000 HK$`000 HK$`000
Employment expenses 316 301 614
Legal and professional fees 214 71 459
Other expenses 83 - 1,018
Total 613 372 2,091
5.Loss per Share
Loss per share data is based on the Company 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 GVMH GVMH
30 June 2026 30 June 31 December
2025
(unaudited) 2025
(unaudited)
(audited)
HK$ HK$
HK$
Loss after (2,033,000) (1,773,000) (4,833,000)
tax
Weighted 96,287,079 96,287,079 96,287,079
average
number
of ordinary
shares in
issue
Basic and (0.02) (0.02) (0.05)
diluted
loss
per share
Basic and diluted loss 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 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, Number of Share Share Share Share
called up and shares Capital Premium
fully Capital Premium
paid ordinary
shares of 10p
each
£ HK$ £ HK$
Balance at 30 96,287,079 9,628,708 96,017,186 4,422,954 44,105,565
June 2025
(unaudited)
Balance at 31 96,287,079 9,628,708 96,017,186 4,422,954 44,105,565
December 2025
(audited)
Balance at 30 96,287,079 9,628,708 96,017,186 4,422,954 44,105,565
June 2026
(unaudited)
7.Events Subsequent to 30 June 2026
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 http://gvmh.co.uk/
Jonathan Lo, Director Tel: +44 (0) 20 7866 2145
or info@gvmh.co.uk
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