Qing Hua Holding Group Company Limited (Qing Hua Holding) reported a sharp decline in interim revenue and swung to a gross loss for the six months ended 30 June 2026, as weak concert demand and event cancellations weighed on results.

Revenue and Profitability • Revenue fell 79.16% year on year to HK$14.93 million, down from HK$71.63 million in 1H 2025, chiefly due to under-performing concerts and weather-related cancellations. • The Group recorded a gross loss of HK$4.38 million versus a HK$0.74 million gross profit a year earlier. • Loss for the period narrowed to HK$16.50 million from HK$29.19 million, aided by HK$4.88 million in net other gains, including a HK$4.13 million gain on the disposal of subsidiary Bookyay Limited. • Basic and diluted loss per share improved to HK0.60 cent from HK1.16 cents.

Cost Structure • Selling, marketing and distribution expenses dropped 85.34% to HK$0.12 million. • General and administrative expenses contracted 39.56% to HK$15.45 million as management intensified cost-control measures. • Employee benefit costs declined to HK$8.68 million (1H 2025: HK$12.29 million).

Balance Sheet and Liquidity • Cash and cash equivalents decreased to HK$26.21 million from HK$40.04 million at end-2025. • Net current liabilities widened to HK$54.46 million (31 Dec 2025: HK$38.91 million); current ratio fell to 0.55x from 0.68x. • Total deficit attributable to shareholders expanded to HK$46.57 million, lifting overall net liabilities to HK$52.62 million. • Other borrowings remained at HK$65.00 million; no gearing ratio provided due to negative equity.

Operational Highlights • Media and entertainment remained the sole operating segment, contributing all reported revenue. • Regional revenue mix saw Taiwan lead with HK$8.44 million, followed by Hong Kong at HK$3.72 million; Macau revenue plunged from HK$33.41 million to HK$0.06 million. • No single customer accounted for more than 10% of total revenue.

Corporate Developments • Completion of Bookyay Limited disposal generated a HK$4.13 million gain; no material events reported post-period. • Share base increased to 2.67 billion shares after issuance under the share award scheme and option exercises. • No interim dividend was declared.

Outlook Management cites ongoing financial and geopolitical uncertainties suppressing consumer sentiment but anticipates policy support from Hong Kong’s forthcoming First Five-Year Plan (2026–2030) to bolster the city’s cultural and entertainment sector. Planned projects include regional concerts such as Kazuya Kamenashi’s “Talk to Me” Asia Tour and Monsta X’s World Tour.