Hong Kong Television Network (1137) plans to change its name to Hong Kong Technology Venture after posting a net profit of HK$183.58 million in 2020, compared to a loss of HK$289.91 million a year ago.
Vice chairman and chief executive Ricky Wong Wai-kay said the move aims to help the group develop in the overseas market, allowing investors to have a clearer understanding. He said that HKTVmall will not be renamed.
The company did not declare a dividend. Basic earnings per share went up to HK$0.20 from a loss of HK$0.35. Turnover surged 103.53 percent to HK$2.88 billion.
It enjoyed a government subsidy from the Employment Support Scheme, accounting for nearly HK$70.86 million.
HKTVmall achieved HK$5.95 billion in gross merchandise volume, the company said in a filing to the stock exchange.
