Company: TGE
Filing Date: 2025-03-21
Form Type: DRS/A
Source: 0001013762-25-001106
Chunk: 349

Company: Generation Essentials Group
Filing Date: 2025-03-21
Form: DRS/A
Chunk 349
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 October 2023. Our segment revenue from the hotel operation, hospitality and VIP services segment increased from US$5.4million 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$22.7million 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$50.5million 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$5.9million in 2023 to US$15.6 million in 2024. Our cost of production increased from US$3.8million in 2023 to US$7.1million 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$2.1million 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$1.2million in 2023 to US$24.8 million in 2024, mainly due to the disposal of the entire equity interests in certain of our subsidiaries which were not conducting the core business of our company, during 2024.

218 Other operating expenses Our other operating expenses increased from US$5.7million in 2023 to US$15.5 million in 2024, mainly due to an increase in depreciation of our hotel properties and other corporate expenses arising from the additional contribution recognized from our hotel operations during 2024. Staff costs Our staff costs increased from US$7.