柠萌影视二零二五年年度报告

ANNUAL REPORT2025 Contents Page2Corporate Profile3Corporate Information7Financial Highlights8Chairman’s Statement12Management Discussion and Analysis29Directors and Senior Management36Directors’ Report94Corporate Governance Report128Independent Auditor’s Report135Consolidated Statement of Profit or Loss andOther Comprehensive Income136Consolidated Statement of Financial Position138Consolidated Statement of Changes in Equity139Consolidated Statement of Cash Flows142Notes to the Financial Statements Corporate Profile IP Linmon Media Limited (the “Company”, together with its subsidiaries(including consolidated affiliated entities of the Company), collectivelyreferred to as the “Group”, “our Group” or “we”) is a company focusingon creating premium original drama series based on our abundantreserve of original IPs. 2014IP With the mission and vision of “shaping content by people, and shapingpeople with content”, since our inception in 2014, our Group has beendedicated to the full value chain of operations including investment,production, distribution, promotion, and derivatives licensing of dramaseries. Our main business lines cover the long-form original dramaseries, short drama series, content marketing and other businesses(including developing, producing and distributing films, and licensingour IP derivatives adaptation rights, etc.). 20252725IP By the end of 2025, our Group has produced and distributed atotal of 27 high-quality drama series. 25 of them are original dramaseries in which we acted as the lead/sole investor and the executiveproducer, and we therefore own proprietary rights of these dramaseries. They include day-to-day life themed drama series such as“A Love for Separation” (), “A Little Reunion” (),“A Little Dilemma” (), “Nothing but Thirty” (),“Twenty Your Life On” () series, “Nothing But You”(), “The Heart” (), “My Boss”() and“In Between” (), ancient costume themed drama seriessuch as “A Dream within a Dream” (), “Moonlit Reunion”(), “A Journey to Love” () and “Novoland:Eagle Flag” () and suspense themed drama seriessuch as “Under the Skin” () series and “Nobody Knows”(). The aforesaid products focus on popular contemporarytopics such as family life, education, and female empowerment,delivering positive value propositions and inspiring extensive discussion.Up to now, our Group has abundant original IP reserve and high-quality content products, driving our Group to become the top brandin the industry. IPIP Furthermore, our Group is also committed to our diversified growthstrategies, and continues to explore new growth avenues such asshort drama series, overseas business, IP derivative development andcontent marketing, in order to maximise the commercial value of ourproprietary IP rights and build a diversified business structure, therebyreinforcing our leadership in the industry. DIRECTORS Executive Directors 2025124 Mr. Su Xiao(Chairman of the Board and President)Ms. Chen FeiMs. Xu Xiao’ouMr. Zhou Yuan(Resigned on 24 January 2025) Non-executive Directors 20251242025124 Mr. Sun Zhonghuai(Resigned on 24 January 2025)Ms. Wang Juan(Appointed on 24 January 2025)Mr. Zhang Rong Independent non-executive Directors 20257102025710 Ms. Long Yu(Resigned on 10 July 2025)Mr. Jiang ChangjianMs. Tang SonglianMs. Liang Ning(Appointed on 10 July 2025) JOINT COMPANY SECRETARIES 202642ACGHKACG20264 2202642ACGHKACG20264 2 Ms. Li Zhen(Resigned on 2 April 2026)Ms. Ng Ka Man(ACG, HKACG)(Resigned on 2 April 2026)Mr. Li Zongwei(Appointed on 2 April 2026)Ms. Kwan Lok Yan(ACG, HKACG)(Appointed on 2 April 2026) AUTHORISED REPRESENTATIVES 202642202642 Mr. Su XiaoMs. Li Zhen(Resigned on 2 April 2026)Mr. Li Zongwei(Appointed on 2 April 2026) AUDIT COMMITTEE 20257102025710 Ms. Tang Songlian(Chairman)Mr. Zhang RongMs. Long Yu(Resigned on 10 July 2025)Ms. Liang Ning(Appointed on 10 July 2025) NOMINATION COMMITTEE 20257102025710 Mr. Su Xiao(Chairman)Ms. Long Yu(Resigned on 10 July 2025)Mr. Jiang ChangjianMs. Liang Ning(Appointed on 10 July 2025) Linmon Media Limited檸萌影視傳媒有限公司Annual Report 2025 Corporate Information REMUNERATION COMMITTEE 20257102025710 Ms. Long Yu(Chairman) (Resigned on 10 July 2025)Ms. Liang Ning(Chairman) (Appointed on 10 July 2025)Mr. Su XiaoMr. Jiang Changjian REGISTERED OFFICE Suite #4-210, Governors Square23 Lime Tree Bay AvenuePO Box 32311Grand Cayman KY1-1209Cayman Islands Suite #4-210, Governors Square23 Lime Tree Bay AvenuePO Box 32311Grand Cayman KY1-1209Cayman Islands HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN CHINA 9931 31/F, Suhe CentreNo. 99 North Shanxi RoadJing’an DistrictShanghaiPRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 31/F, Tower Two, Times Square1 Matheson StreetCauseway BayHong Kong 1231 AUDITOR 191001-1010 Moore CPA LimitedCertified Public AccountantRegistered Public Interest Entity AuditorRoom 1001-1010North Tower, World Finance Centre, Harbour City, No.19 Canton RoadTsim Sha Tsui, Kowloon, Hong Kong LEGAL ADVISOR 127 As to Hong K