Core Viewpoint - Bersen Financial (00888) anticipates a loss attributable to shareholders not exceeding HKD 30 million for the six months ending June 30, 2025, compared to a loss of approximately HKD 9.6 million for the same period in 2024 [1] Summary by Relevant Categories Financial Performance - The expected loss for the upcoming period is significantly higher than the previous year's loss, indicating a deterioration in financial performance [1] Contributing Factors - The anticipated loss is primarily attributed to: 1. Recognition of unrealized losses from a private equity fund investment 2. Increased employee expenses 3. Higher research and development costs [1][1][1]

Core Viewpoint - BOCOM International (00888) anticipates a loss attributable to shareholders not exceeding HKD 30 million for the six months ending June 30, 2025, compared to a loss of approximately HKD 9.6 million for the same period in 2024 [1] Summary by Relevant Categories Financial Performance - The expected loss for the upcoming period is significantly higher than the previous year's loss, indicating a deterioration in financial performance [1] Contributing Factors - The anticipated loss is primarily due to: - Recognition of unrealized losses from a private equity fund investment [1] - Increased employee expenses [1] - Rising research and development costs [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BISON FINANCE GROUP LIMITED 貝森金融集團有限公司 （於百慕達註冊成立的有限公司） (股份代號：888) 盈利警告 本公告乃由貝森金融集團有限公司（「本公司」，連同其附屬公司，統稱 「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市規 則」）第13.09(2)(a)條及香港法例第571章證券及期貨條例第XIVA部項 下之內幕消息條文（ 定義見上市規則 ）而作出。 本公司董事會（「董事會」）謹此知會本公司股東及潛在投資者，根據董 事會目前可得資料，以及對本集團截至二零二五年六月三十日止六個月 （「該期間」）之最新未經審核之綜合管理賬目作出的初步評估，本集團 預期於該期間錄得本公司擁有人應佔虧損不超過港幣30,000,000元，而二 零二四年同期本公司擁有人應佔虧損約港幣9,600,000元。該期間錄得之 虧損主要由於（其中包括）(i)確認一隻私募股權基金投資的未變現虧損淨 ...

Group 1 - The company, Bessen Financial (00888.HK), announced that it will hold a board meeting on August 27, 2025 [1] - The meeting will review and approve the group's interim results for the six months ending June 30, 2025, and discuss the proposal for an interim dividend distribution, if any [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 BISON FINANCE GROUP LIMITED 貝森金融集團有限公司 於本公告日期，董事會成員包括執行董事徐沛欣先生、孫磊先生（主席）及 朱冬先生；非執行董事袁海海博士；以及獨立非執行董事齊大慶博士、陳亦工 先生及馮中華先生。 董事會會議召開日期 貝森金融集團有限公司（「本公司」）董事會（「董事會」）宣佈，本公司將 於二零二五年八月二十七日（星期三）舉行董事會會議，藉以（其中包括）批 准本公司及其附屬公司截至二零二五年六月三十日止六個月之中期業績及其發 佈，以及考慮派付中期股息（如有）。 承董事會命 貝森金融集團有限公司 執行董事 朱 冬 香港，二零二五年八月十五日 （於百慕達註冊成立的有限公司） (股份代號：888) ...

公司名稱: 貝森金融集團有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00888 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.1 HKD | | 1,000,000,000 | 本月底法定/註冊股本總額： HKD 1,000,000,000 FF301 第 1 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 ...

Group 1 - The Hang Seng Index rose by 0.46% to close at 24,139.57 points on July 11 [1] - Bosen Financial (00888.HK) closed at HKD 0.09 per share, up 9.76%, with a trading volume of 4.464 million shares and a turnover of HKD 398,300, showing a volatility of 17.07% [1] - Over the past month, Bosen Financial has seen a cumulative increase of 20.59%, and a year-to-date increase of 121.62%, outperforming the Hang Seng Index by 19.78% [1] Group 2 - As of December 31, 2024, Bosen Financial reported total revenue of HKD 40.9069 million, a year-on-year increase of 24.2%, while the net profit attributable to shareholders was HKD -25.1587 million, a decrease of 31.65% [1] - The gross profit margin stood at 25.02%, and the debt-to-asset ratio was 79.5% [1] - Currently, there are no institutional investment ratings for Bosen Financial [1] Group 3 - The average price-to-earnings (P/E) ratio for the other financial industry is 6.23 times, with a median of -0.2 times [1] - Bosen Financial's P/E ratio is -4.29 times, ranking 128th in the industry [1] - Comparatively, other financial companies have the following P/E ratios: China Merchants China Fund (00133.HK) at 2.54 times, Weixin Jinkou (02003.HK) at 3.54 times, Hong Kong Credit (01273.HK) at 3.69 times, Guoyin Financial Leasing (01606.HK) at 4.52 times, and Zhongguancun Technology Leasing (01601.HK) at 4.69 times [1][2]

Financial Performance - For the year ended December 31, 2024, the Group reported revenue of approximately HK$44.2 million, representing an increase of approximately 24.2% from HK$35.6 million in the previous year[6]. - The loss attributable to owners of the parent for the year was approximately HK$27.2 million, an increase of approximately 31.7% compared to HK$20.6 million in 2023[7]. - The increase in loss was mainly due to a provision for impairment losses on financial assets of approximately HK$3.3 million and an increase in research and development costs of approximately HK$11.0 million[7]. - The Group experienced a loss before tax of HK$27.2 million in 2024, compared to a loss of HK$20.6 million in 2023, indicating a deterioration in financial performance[99]. - The net loss for the year was approximately HK$27.2 million, compared to a net loss of HK$20.6 million in the previous year, resulting in a basic loss per share of HK$1.91 in 2024 versus HK$1.45 in 2023[99]. - Cash and cash equivalents decreased to HK$101.7 million in 2024 from HK$112.4 million in 2023, reflecting a net decrease of HK$10.7 million[99]. - The total assets of the Group decreased to HK$153.6 million in 2024 from HK$186.6 million in 2023, while total liabilities decreased to HK$122.1 million from HK$128.0 million[99]. - The current ratio declined to 1.24 in 2024 from 1.42 in 2023, indicating a decrease in liquidity[99]. - The debt-to-equity ratio increased significantly to 292.6% in 2024 from 176.0% in 2023, suggesting a higher level of financial leverage[99]. Investment Fund Performance - The Group's investment in BeiTai Investment LP amounted to HK$43.9 million as of December 31, 2024, representing approximately 59.0% of the total capital commitment of the Investment Fund[17]. - The fair value of the Investment Fund as of December 31, 2024, was approximately HK$18.7 million, down from approximately HK$23.9 million in 2023[17]. - During the year ended December 31, 2024, the Group recorded a net unrealized gain on financial assets at fair value through profit or loss of approximately HK$23.0 million, compared to a net unrealized loss of approximately HK$5.6 million in 2023[56]. - The Group's interest in the Investment Fund includes two underlying investments: an unsecured redeemable bond issued by Emerge Ventures Limited and an unsecured redeemable bond issued by A Metaverse Company[60]. - The Group disposed of all AMC Shares held by the Investment Fund during the year ended December 31, 2024, with proceeds of approximately HK$3.2 million[61]. - The fair value of the Group's interest in the AMC Bond was approximately HK$11.4 million as of December 31, 2023, resulting in an unrealized fair value loss of approximately HK$5.8 million for the year ended December 31, 2023[67]. - The fair value of the Group's interest in the EV Bond was approximately HK$6.0 million as of December 31, 2023, leading to an unrealized gain of approximately HK$0.7 million for the year ended December 31, 2023[69]. - The Investment Fund's underlying investments primarily consist of bonds issued by a company listed in Hong Kong and a private limited company[56]. Corporate Actions and Strategy - The Group decided to cease its corporate finance advisory services effective October 31, 2024, and the related license was revoked on March 26, 2025[16]. - The overall business environment is expected to remain challenging due to geopolitical tensions, high interest rates, and global inflation pressures[18]. - The Group will strategically adjust resource allocation within its Financial Services Business to maximize returns for shareholders[18]. - The Group plans to leverage stable relationships with financial institutions to broaden its customer base in the EAM business[28]. - The Group is exploring new opportunities in emerging financial markets to further develop its Financial Services Business, leveraging its resources and senior management's investment experience[54]. - The Group will continue to enhance the income stream from its Financial Services Business while cautiously allocating resources within this segment[49]. Financial Services Business - The Group's Financial Services Business includes external asset management, fund management, securities services, investment advisory, and corporate finance advisory services[9]. - The Group's EAM business had aggregate assets of approximately HK$3.6 billion as of December 31, 2024, down from HK$4.1 billion in 2023[27]. - Revenue from EAM services increased to approximately HK$38.2 million in 2024, representing a 41.3% increase from HK$27.0 million in 2023[27]. - Revenue from fund management services decreased to approximately HK$5.0 million in 2024, down 8.4% from HK$5.4 million in 2023[32]. - Revenue from corporate finance advisory services fell to approximately HK$0.5 million in 2024, a decrease of 73.0% from HK$1.9 million in 2023[33]. - The Group's external asset management services recorded revenue of approximately HK$38.2 million in 2024, up 41.3% from HK$27.0 million in 2023[30]. Audit and Compliance - The external auditor expressed a qualified opinion regarding the carrying value of the Investment Fund as of December 31, 2021 and 2022 due to insufficient information on the operations and financial position of EV and AMC[63]. - The external auditor's opinion on the Group's consolidated financial statements for FY2024 is modified due to scope limitations on the carrying values of the AMC Bond and AMC Shares as of December 31, 2022[74]. - The external auditor was unable to assess the fair value of the EV Bond as of December 31, 2022, and 2023, due to management's inability to provide sufficient evidence, which could significantly impact the unrealized fair value loss/gain reported for the years ended December 31, 2022, and 2023[73]. - The management conducted fair value assessments on the EV Bond and AMC Bond with the assistance of an independent valuer[67]. - The external auditor and the Audit Committee reached an agreement on the audit qualification arising from the limitations in obtaining sufficient appropriate audit evidence[82]. Employee and Management Information - As of 31 December 2024, the group employed 37 full-time employees, an increase from 26 in 2023[176]. - Staff costs for the year ended 31 December 2024 were approximately HK$22.1 million, a slight decrease from approximately HK$22.9 million in 2023[176]. - The company has adopted a share option scheme to incentivize employees and align their interests with the company's performance[177]. - The remuneration of directors and senior management is aligned with corporate objectives and market conditions[176]. - The executive director, Mr. Xu Peixin, has over 16 years of experience in corporate management and investment[180]. - Mr. Sun Lei, appointed as CEO in December 2018, has over 21 years of experience in the financial industry[182]. - Mr. Zhu Dong, the CFO, has more than 29 years of experience in accounting and corporate finance[188]. - Dr. Yuan Haihai appointed as a non-executive director on November 28, 2024, with over 20 years of experience in finance and consulting across multiple regions[189].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 44,174,000, representing a 24.5% increase from HKD 35,566,000 in 2023[3] - Other income and gains for 2024 amounted to HKD 24,864,000, compared to a loss of HKD 7,518,000 in 2023[3] - The net loss for the year was HKD 27,166,000, compared to a loss of HKD 20,638,000 in 2023, indicating a 31.0% increase in losses[3] - Basic and diluted loss per share for 2024 was HKD 1.91, up from HKD 1.45 in 2023[3] - The group reported a pre-tax loss of HKD 27,168,000 for 2024, compared to a loss of HKD 20,636,000 in 2023, with a weighted average number of ordinary shares of 1,421,838,398[22] - The company recorded a loss attributable to equity holders of approximately HKD 27,200,000 for the year ended December 31, 2024, an increase of about 31.7% compared to a loss of HKD 20,600,000 in 2023[37] Revenue Breakdown - Total revenue for 2024 reached HKD 43,722,000, an increase of 27% compared to HKD 34,392,000 in 2023[14] - Revenue from external asset management services increased by approximately 41.3% to HKD 38,200,000 for the year ended December 31, 2024, compared to HKD 27,000,000 in 2023[40] - Institutional financing advisory service revenue decreased by approximately 73.0% to HKD 500,000 for the year ended December 31, 2024, down from HKD 1,900,000 in 2023[42] Expenses and Costs - The cost of services provided increased to HKD 33,122,000 in 2024 from HKD 23,304,000 in 2023, reflecting a 42.1% rise[3] - Research and development expenses were HKD 10,957,000 in 2024, with no corresponding expenses in 2023[3] - The total operating expenses increased to HKD 16,074,000 in 2024 from HKD 12,708,000 in 2023, reflecting a rise in various operational costs[17] - The depreciation expense for property and equipment was HKD 1,548,000 in 2024, compared to HKD 993,000 in 2023[16] Assets and Liabilities - Total assets decreased to HKD 153,555,000 in 2024 from HKD 186,639,000 in 2023, a decline of 17.7%[4] - Current assets decreased to HKD 150,759,000 in 2024 from HKD 176,075,000 in 2023, a decrease of 14.4%[4] - The company's equity attributable to owners of the parent decreased to HKD 31,473,000 in 2024 from HKD 58,639,000 in 2023, a decline of 46.3%[5] - The group's total debt, including promissory notes and lease liabilities, was approximately HKD 92.1 million as of December 31, 2024, down from HKD 103.2 million in 2023[49] Cash Flow and Investments - As of December 31, 2024, the group's cash and cash equivalents amounted to approximately HKD 101.7 million, a decrease from HKD 112.4 million in 2023[49] - The fair value of the group's share in the Conglomerate Weijia bonds was HKD 6,401,000 as of December 31, 2024, an increase from HKD 5,979,000 in 2023[29] - The fair value of the group's share in the One Universe bonds was HKD 8,430,000 as of December 31, 2024, down from HKD 11,443,000 in 2023[29] - The group recognized an unrealized gain of HKD 23,033,000 for the year ending December 31, 2024, compared to an unrealized loss of HKD 5,615,000 in 2023[30] Corporate Governance and Compliance - The company has complied with the Corporate Governance Code throughout the fiscal year, except for the dual role of the chairman and CEO, which the board believes enhances operational efficiency[69] - The company has adopted its own Securities Trading Code, confirming compliance by all directors for the fiscal year ending December 31, 2024[70] - The audit committee reviewed the group's annual performance for the year ending December 31, 2024, and found it compliant with relevant accounting standards and regulations[71] - The independent auditor's report included a qualified opinion due to limitations in the audit scope regarding the fair value losses of certain financial assets[73] Future Outlook and Challenges - The management remains optimistic about benefiting from the economic recovery in Hong Kong despite facing challenges and uncertainties in the financial services sector[44] - The group anticipates a challenging business environment due to geopolitical tensions, high interest rates, and increasing global inflationary pressures[48] Employee and Operational Changes - The company employed 37 full-time employees as of December 31, 2024, compared to 26 in the previous year, with total employee costs around HKD 22,100,000[64] - The company has terminated its institutional financing advisory services as of October 31, 2024, to optimize resource allocation within its financial services business[38]

Bond Repayment Status - The outstanding amounts for the Universe Bond and the United We Stand Bond are approximately HKD 19,500,000 and HKD 37,200,000, respectively, expected to be fully repaid by the end of 2024[3]. - United We Stand made a partial repayment of HKD 4,000,000 to the investment fund in October 2024[2]. - The company expects that the non-qualified audit opinion regarding the investment fund's balance as of December 31, 2024, will no longer exist if the United We Stand Bond is fully redeemed by the end of 2024[4]. - The proceeds from the upcoming movie, attributed to the Universe, are expected to be settled in batches by the end of 2024, to clear the remaining unpaid amounts of the Universe Bond[2]. - Further announcements will be made regarding the repayment status of the Universe Bond and United We Stand Bond, as well as updates on the liquidation of the investment fund[4]. Investment Fund Liquidation - The liquidation of the investment fund is anticipated to be completed around early March 2025, following the full redemption of the bonds[3]. - The investment fund's administrative and other expenses are expected to take about two months to settle after the full redemption of the bonds[3]. Company Strategy and Impact - The company will continue to follow up weekly with the issuers of the bonds to ensure timely redemption[3]. - The company is currently in discussions with potential investors to sell its interests in investment projects related to the United We Stand Bond[2]. - The management believes that the redemption of the United We Stand Bond will positively impact the company's consolidated financial statements for the year ending December 31, 2024[4].