Company: TGE
Filing Date: 2025-07-03
Form Type: F-1/A
Source: 0001213900-25-061211
Chunk: 149

Company: Generation Essentials Group
Filing Date: 2025-07-03
Form: F-1/A
Chunk 149
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Our revenue increased from
US$42.5 million in 2023 to US$77.0 million in 2024.

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Segment Revenue

Our segment revenue from the
media and entertainment segment increased from US$14.4 million in 2023 to US$18.9 million in 2024, primarily due to the successful
operations and expansions of L’Officiel, as well as the full year impact of our acquisition of The Art Newspaper in October 2023.

Our segment revenue from the
hotel operation, hospitality and VIP services segment increased from US$5.4 million in 2023 to US$23.1 million in 2024, primarily
due to the additional contribution recognized from our hotels to the segment revenue.

Our segment revenue from the
strategic investment segment increased from US$22.7 million in 2023 to US$35.0 million 2024, primarily due to the net effect of (i)
the unrealized gain on our listed shares investments of US$26.3 million for 2024, as compared with an unrealized loss of US$37.8 million
recognized for 2023 mainly due to fluctuation in the stock market affecting the fair value of the listed shares of Bank of Qingdao and
Guangzhou Rural Commercial Bank which we hold as investments, and (ii) a decrease in the realized gain on disposed investments of US$50.5
million as we disposed of certain film investments in 2023 whereas no investment was disposed of during 2024.

Cost of production
and cost of hotel operation

Our cost of production and
cost of hotel operation increased from US$5.9 million in 2023 to US$15.6 million in 2024.

Our cost of production increased
from US$3.8 million in 2023 to US$7.1 million in 2024, mainly due to the additional costs incurred as a result of the expansion of the
operation of L’Officiel and the full year impact in 2024 of our acquisition of The Art Newspaper in October 2023.

Our cost of hotel operation
increased from US$2.1 million in 2023 to US$8.5 million in 2024, mainly due to the additional costs recognized from our hotels in
line with the increase in segment revenue generated from our hotel operation.

Other income

Our other income increased
from US$1.