Company: TGE
Filing Date: 2025-04-25
Form Type: F-4/A
Source: 0001213900-25-035536
Chunk: 353

Company: Generation Essentials Group
Filing Date: 2025-04-25
Form: F-4/A
Chunk 353
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 result of the foregoing, our profit increased from US$17.2million in 2023 to US$44.7 million in 2024. Year Ended December 31, 2022 Compared to Year Ended December 31, 2023 Revenue Our revenue increased from US$31.3 million in 2022 to US$42.5 million in 2023. Segment Revenue Our segment revenue from the media and entertainment segment increased from US$7.7 million in 2022 to US$14.4 million in 2023, primarily due to the expansion of L’Officiel into various jurisdictions such as Singapore and Malaysia since 2023, as well as our acquisition of The Art Newspaper in October 2023 which brought in new sources of income. Our segment revenue from the hotel operation, hospitality and VIP services segment increased from US$3.2 million in 2022 to US$5.4 million in 2023, primarily due to the increase in the unit room rate and occupancy rate of our hotels. Our segment revenue from the strategic investment segment increased from US$20.4 million in 2022 to US$22.7 million in 2023, primarily due to (i) the increase in realized gain to the disposed investment from US$1.0 million in 2022 to US$50.5 million in 2023 resulting from the realized gain in derivative contracts of upside participation and profit distribution agreements and future settlement contract (as described in details in note 17 of TGE’s consolidated financial statements included herein), which contracts were terminated in 2023 and (ii) the increase in dividend income from US$6.4 million in 2022 to US$9.9 million in 2023. The increase was partially offset by the unrealized loss on our investments in the listed shares of Bank of Qingdao and Guangzhou Rural Commercial Bank and derivative financial instruments of US$37.8 million in year 2023, while an unrealized gain of US$13.0 million was recognized in 2022, due to fluctuation in the stock market affecting the fair value of these listed shares. 219 Cost of production and cost of hotel operation Our cost of production and cost of hotel operation increased from US$3.2 million in 2022 to US$5.9 million in 2023. Our cost of production increased from US$1.5 million in 2022 to US$3.8 million in 2023, mainly