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 6 months Ended 30 June 2026 (unaudited)	GVMH 6 months Ended 30 June 2025 (unaudited)	GVMH Year End 31 December 2025 (audited)
		HK$’000	HK$’000	HK$’000
Turnover		1,063	1,552	3,773
Cost of Sales		(1,102)	(1,099)	(2,991)
Gross (Loss) / Profit		(39)	453	782
Other Income / Expenditure		-	-	-
Administrative expenses		(2,180)	(2,188)	(5,675)
Depreciation		(3)	(3)	(6)
Operating Loss		(2,222)	(1,738)	(4,899)
Finance Cost		-	-	-
Loss before taxation		(2,222)	(1,738)	(4,899)
Tax on ordinary activities		-	-	-
Loss after taxation		(2,222)	(1,738)	(4,899)
Exchange difference arising on Translation		(70)	346	(1,140)
Loss and total comprehensive loss for the period		(2,292)	(1,392)	(6,039)
Loss attributable to:
Equity holders of the Company		(2,033)	(1,773)	(4,833)
Non-controlling interests		(189)	35	(66)
		(2,222)	(1,738)	(4,899)
Total comprehensive loss attributable to:
Equity holders of the Company		(2,103)	(1,427)	(5,973)
Non-controlling interests		(189)	35	(66)
		(2,292)	(1,392)	(6,039)
Basic and diluted earnings per share (HK$)	5	(0.02)	(0.02)	(0.05)

 

 

 

 

Interim Condensed Statement of the Financial Position

 

	Notes	GVMH 30 June 2026 (unaudited)	GVMH 30 June 2025 (unaudited)	GVMH 31 December 2025 (audited)
		HK$’000	HK$’000	HK$’000
Assets
Non-Current Assets
Property, plant and equipment		2	8	5
Total Non-Current Asset		2	8	5
Current assets
Trade and Other Receivables		878	560	303
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 Reserve		(12,460)	(12,460)	(12,460)
Capital Contribution arising from Shareholder’s Loan		844	844	844
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 Liabilities		1,025	6,871	1,025
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 Liabilities		1,185	709	670

 

 

 

 

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 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 difference arising on Translation	-	-	-	-	(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	14,604	47,020	(12,460)	1,335	(1,579)	844	(103,054)	(53,830)	(970)	(54,800)
Loss for the period	-	-	-	-	-	-	(3,060)	(3,060)	-	(3,060)
Exchange difference arising on Translation	-	-	-	-	269	-	-	269	-	269
Non-Controlling Interest	-	-	-	-	-	-	-	-	(101)	(101)
Total comprehensive income	-	-	-	-	269	-	(3,060)	(2,791)	(101)	(2,892)
Balance at 31 DECEMBER 2025	14,064	47,020	(12,460)	1,335	(1,310)	844	(106,114)	(56,621)	(1,071)	(57,692)
Loss for the period	-	-	-	-	-	-	(2,033)	(2,033)	-	(2,033)
Exchange difference arising on Translation	-	-	-	-	(70)	-	-	(70)	-	(70)
Non-Controlling Interest	-	-	-	-	-	-	-	-	(189)	(189)
Total comprehensive income	-	-	-	-	(70)	-	(2,033)	(2,103)	(189)	(2,292)
Balance at 30 June 2026	14,064	47,020	(12,460)	1,335	(1,380)	844	(108,147)	(58,724)	(1,260)	(59,984)

 

 

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 2026 (unaudited)		GVMH 6 Months Ended 30 June 2025 (unaudited)		GVMH For the year ended 31 December 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 capital		(2,219)		(1,735)		(4,893)
Increase in receivables		(575)		(347)		(90)
Decrease in deposits and prepayments		6		79		13
Increase in payables		1,022		1,174		1,661
Increase / (Decrease) in deposit received		11		(65)		(73)
Net cash flow used in operating activities		(1,755)		(894)		(3,382)
Cash flows from financing activities:
Bank overdraft utilised		-		111		-
Increase in an amount due to directors		1,819		1,523		4,239
Net cash generated from financing activities		1,819		1,634		4,239
Net cash outflow for the period		64		740		857
Opening Cash and cash equivalents		183		11		11
Effect on Foreign exchange rate changes		(115)		(723)		(685)
Closing Cash and cash equivalents		132		28		183

 

 

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 GVMH 30 June 2026	Company GVMH 30 June 2025	Company GVMH 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 30 June 2026 (unaudited)	GVMH 30 June 2025 (unaudited)	GVMH 31 December 2025 (audited)
	HK$	HK$	HK$
Loss after tax	(2,033,000)	(1,773,000)	(4,833,000)
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)	(0.05)

 

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, 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 30 June 2025 (unaudited)	96,287,079	9,628,708	96,017,186	4,422,954	44,105,565
Balance at 31 December 2025 (audited)	96,287,079	9,628,708	96,017,186	4,422,954	44,105,565
Balance at 30 June 2026 (unaudited)	96,287,079	9,628,708	96,017,186	4,422,954	44,105,565

 

 

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 Jonathan Lo, Director	http://gvmh.co.uk/ Tel: +44 (0) 20 7866 2145 or [email protected]