Dear Non-registered Holder(s) (Note 1) , Bingo Group Holdings Limited (the "Company") BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 (Incorporated in Cayman Islands with limited liability) ( 於開曼群島註册成立的有限公司 ) (Stock Code: 8220) （股份代號：8220） NOTIFICATION LETTER 通知信函 – Notification of publication of Annual Report 2024/25, Circular and Proxy Form (the "Current Corporate Communications") The English and Chinese versions of the Company's Current Corporate Communications are available on the Company's website at www.bingo ...

BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 (Incorporated in Cayman Islands with limited liability) ( 於開曼群島註册成立的有限公司 ) (Stock Code: 8220) （股份代號：8220） NOTIFICATION LETTER 通知信函 Dear Registered Shareholders, 30 July 2025 Bingo Group Holdings Limited (the "Company") - Notification of publication of Annual Report 2024/25, Circular and Proxy Form (the "Current Corporate Communication(s)") We hereby notify you that the Current Corporate Communication(s) in both English and Chinese are now available on the Company's we ...

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分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。 BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 （於 開 曼 群 島 註 冊 成 立 之 有 限 公 司） （股 份 代 號：8220） 股東週年大會通告 茲通告 比 高 集 團 控 股 有 限 公 司（「本公司」）謹 訂 於 二 零 二 五 年 九 月 九 日（星 期 二）上 午 十 一 時 三 十 分 假 座 香 港 中 環 都 爹 利 街11號律敦治中心律敦治 大 廈10樓 舉 行 股 東 週 年 大 會，以 作 為 普 通 事 務，考 慮 及 酌 情 通 過 以 下 普 通 決 議 案（不 論 有 否 修 訂）： 普通決議案 – 1 – 1. 省 覽、考 慮 及 採 納 截 至 二 零 二 五 年 三 月 三 十 一 日 止 年 度 之 經 審 核 綜 合 財 務 報 表 及 本 公 司 董 事（ ...

[Corporate Information](index=3&type=section&id=Corporate%20Information) This chapter provides essential corporate information for Biga Group Holdings Limited, including board composition, key committees, and contact details [Corporate Information](index=3&type=section&id=Corporate%20Information) This chapter provides essential corporate information for Biga Group Holdings Limited, including board composition, key committees, and contact details - The company's Board of Directors comprises several executive and independent non-executive directors, including the renowned filmmaker **Mr. Stephen Chow**[10](index=10&type=chunk) - The company has established Audit, Remuneration, and Nomination Committees, all chaired by independent non-executive directors, ensuring the independence of corporate governance[10](index=10&type=chunk)[11](index=11&type=chunk)[12](index=12&type=chunk) [Directors' Business Review](index=6&type=section&id=Directors'%20Business%20Review) The Group's core businesses, including cinema, film entertainment, licensing, and new media, saw varied performance, with new media and strategic partnerships poised for future growth [Business Review](index=7&type=section&id=Business%20Review) The Group's core businesses, including cinema, film entertainment, licensing, and new media, saw varied performance, with new media and strategic partnerships poised for future growth Business Segment Performance FY2025 | Business Segment | FY2025 Performance | | :--- | :--- | | **Cinema Business** | Revenue approximately **HKD 2.7 million**, a year-on-year decrease, primarily due to the sluggish Chinese film market and 1.5-month closure of Hangzhou cinema for maintenance | | **Film Entertainment Business** | No revenue this year, but a strategic cooperation agreement with Beijing iQIYI has resulted in significant advance cash payments, expected to be a major revenue driver for the next five years | | **Licensing Business** | Authorized "King of Comedy" and "The New King of Comedy" IPs, launching "King of Comedy Stand-up Season 1," recognizing service fee revenue of approximately **HKD 6.2 million** | | **New Media Business (MCN)** | Established joint venture Xingfeng, engaged in talent incubation and new media promotion, generating revenue of approximately **HKD 0.93 million** | | **New Media Business (Marketing)** | Established joint venture Xingyu, engaged in internet information services and marketing planning, generating revenue of approximately **HKD 3.27 million** | - The Group entered into a strategic cooperation with Beijing iQIYI and Zhouling Culture Media, valid until July 2029, where Beijing iQIYI handles distribution and financing, while the company provides IP and engages Mr. Stephen Chow for creative input, having received an initial payment of **RMB 50 million (approximately HKD 54.2 million)**[27](index=27&type=chunk)[30](index=30&type=chunk)[49](index=49&type=chunk) [Financial Review](index=13&type=section&id=Financial%20Review) Total turnover increased by 55% to HKD 12.1 million, driven by new media, but administrative and share-based payment expenses led to a 92.6% increase in annual loss to HKD 23.3 million Financial Performance Summary | Financial Metric | FY2025 (HKD) | FY2024 (HKD) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Total Turnover | Approx. **HKD 12.1 million** | Approx. **HKD 7.8 million** | +55.1% | | Annual Loss | Approx. **HKD 23.3 million** | Approx. **HKD 12.1 million** | +92.6% | | Administrative Expenses | Approx. **HKD 20.2 million** | Approx. **HKD 13.2 million** | +53.0% | | Share-based Payment Expenses | **HKD 4.6 million** | **HKD 0** | N/A | [Liquidity, Debt Ratio, Financial Resources and Capital Structure](index=13&type=section&id=Liquidity,%20Debt%20Ratio,%20Financial%20Resources%20and%20Capital%20Structure) Total assets increased to HKD 53.4 million and cash to HKD 40.2 million, with the Board confident in liquidity despite a 1.59 debt ratio, supported by HKD 54.2 million in advance production costs Financial Position Summary | Metric | March 31, 2025 (HKD) | March 31, 2024 (HKD) | | :--- | :--- | :--- | | Total Assets | Approx. **HKD 53.4 million** | Approx. **HKD 14.9 million** | | Cash and Cash Equivalents | Approx. **HKD 40.2 million** | Approx. **HKD 13.6 million** | | Debt Ratio | **1.59** | **1.93** | - The Board believes the Group has sufficient working capital, as approximately **HKD 54.2 million** in other payables represents initial production costs from the Beijing iQIYI collaboration, which will be recognized as revenue upon project completion[59](index=59&type=chunk)[63](index=63&type=chunk) [Employees](index=14&type=section&id=Employees) Employee headcount significantly increased from 28 to 102 to support new business, leading to a rise in total employee costs from HKD 6.4 million to HKD 10 million Employee Data | Metric | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | Number of Employees | **102** | **28** | | Total Employee Costs | Approx. **HKD 10 million** | Approx. **HKD 6.4 million** | [Outlook](index=16&type=section&id=Outlook) The Group will cautiously manage cinema operations while prioritizing film entertainment, new media, and IP licensing, with strategic partnerships and new ventures expected to drive future growth - Film Entertainment, New Media Development, and Licensing Businesses: The collaboration with Beijing iQIYI is expected to be a primary driver of future growth, anticipating significant increases in FY2025/2026 and beyond[80](index=80&type=chunk)[82](index=82&type=chunk) - New Business Expansion: - **Film-themed Tourbillon Watches**: Joint venture BGM with Memorigin has generated approximately **HKD 2.34 million** in revenue[83](index=83&type=chunk)[84](index=84&type=chunk) - **Overall IP Licensing**: Plans to license IPs such as "The Mermaid" and "CJ7" to third parties or establish joint ventures for commercialization[90](index=90&type=chunk) - **AIGC Game Investment**: Invested in Hangzhou Jiyi, which owns the AIGC large model "Xingyi," holding a **12% equity stake** to explore potential in the gaming sector[99](index=99&type=chunk)[103](index=103&type=chunk) - **IP Consulting**: Renewed technical consulting agreement with New Fire Asset Management to provide IP project consulting for investment funds[105](index=105&type=chunk) - Cinema Business: Given the slower-than-expected economic growth in mainland China and changes in viewing patterns, the Group will adopt a more cautious approach and closely monitor this business segment[78](index=78&type=chunk)[81](index=81&type=chunk) [Directors and Senior Management](index=22&type=section&id=Directors%20and%20Senior%20Management) This chapter outlines the extensive experience and qualifications of the company's executive and independent non-executive directors across film production, finance, and marketing [Directors and Senior Management](index=22&type=section&id=Directors%20and%20Senior%20Management) This chapter outlines the extensive experience and qualifications of the company's executive and independent non-executive directors across film production, finance, and marketing - Key members of the executive director team include **Mr. Stephen Chow** and **Ms. Amy Chow Man Kei**, who possess over **30 years** and **20 years** of senior experience in the film industry, respectively[114](index=114&type=chunk)[115](index=115&type=chunk) - The independent non-executive director team, comprising **Ms. Choi Mei Ping**, **Mr. Tsui Wing Tak**, and **Ms. Chan Yat Ching**, brings professional backgrounds in marketing, corporate finance, and accounting, providing independent expert advice to the Board[126](index=126&type=chunk)[127](index=127&type=chunk)[128](index=128&type=chunk) [Corporate Governance Report](index=25&type=section&id=Corporate%20Governance%20Report) The company maintains high corporate governance standards, with the Board, comprising six executive and three independent non-executive directors, sharing Chairman and CEO responsibilities [Board Composition and Operation](index=26&type=section&id=Board%20Composition%20and%20Operation) The company maintains high corporate governance standards, with the Board, comprising six executive and three independent non-executive directors, sharing Chairman and CEO responsibilities - The company did not appoint a Chairman and Chief Executive Officer during this reporting year, with their responsibilities jointly shared by Board members, which deviates from the corporate governance code's recommendation on role separation[153](index=153&type=chunk)[154](index=154&type=chunk) - The Board consists of **nine directors**, including **six executive directors** and **three independent non-executive directors**, and the company believes all independent non-executive directors meet independence requirements[141](index=141&type=chunk)[144](index=144&type=chunk) [Committee Reports](index=34&type=section&id=Committee%20Reports) The company's Remuneration, Nomination, and Audit Committees, all chaired by independent non-executive directors, oversee compensation, board nominations, financial reporting, and internal controls - The chairpersons of the Remuneration, Nomination, and Audit Committees are all independent non-executive directors, and independent non-executive directors constitute a majority in each committee[185](index=185&type=chunk)[192](index=192&type=chunk)[204](index=204&type=chunk) - The Nomination Committee has adopted a Board diversity policy, considering various factors such as gender, age, cultural background, and professional experience when selecting candidates[199](index=199&type=chunk) [Risk Management and Internal Control](index=40&type=section&id=Risk%20Management%20and%20Internal%20Control) The Board oversees risk management and internal control, with an independent consultant confirming the effectiveness and sufficiency of the COSO-based system, finding no significant issues - The company has engaged an independent professional consultant for its annual internal audit, and based on their review, the Board considers the Group's risk management and internal control systems to be effective and sufficient[222](index=222&type=chunk) - The company has established policies for handling and disseminating inside information to ensure compliance and prevent unfair trading[223](index=223&type=chunk) [Shareholder Rights and Communication](index=44&type=section&id=Shareholder%20Rights%20and%20Communication) The report details shareholder rights, including convening meetings and making inquiries, with the company maintaining communication through general meetings, its website, and official reports - Shareholders holding not less than **one-tenth** of the company's paid-up capital have the right to request the convening of an extraordinary general meeting[232](index=232&type=chunk) - Shareholders can submit inquiries to the Board via email or post, and also ask questions directly at general meetings[237](index=237&type=chunk)[239](index=239&type=chunk) [Directors' Report](index=46&type=section&id=Directors'%20Report) The company's principal activities include investment holding and various entertainment businesses, recording a loss for the period, with no final dividend recommended by the Board [Principal Activities and Financial Summary](index=47&type=section&id=Principal%20Activities%20and%20Financial%20Summary) The company's principal activities include investment holding and various entertainment businesses, recording a loss for the period, with no final dividend recommended by the Board - The company's principal business is investment holding, with its subsidiaries' main activities detailed in Note 35 to the financial statements[248](index=248&type=chunk) - The Board does not recommend the payment of a final dividend for the year ended March 31, 2025[249](index=249&type=chunk) [Major Customers and Suppliers](index=50&type=section&id=Major%20Customers%20and%20Suppliers) The Group experienced high customer and supplier concentration, with the top five customers accounting for 75.82% of sales and the top five suppliers for 76.31% of procurement Concentration Metrics | Concentration Metric | Percentage of Total | | :--- | :--- | | Sales to Top Five Customers | **75.82%** | | Sales to Largest Customer | **40.14%** | | Purchases from Top Five Suppliers | **76.31%** | | Purchases from Largest Supplier | **46.09%** | [Share Option Scheme](index=56&type=section&id=Share%20Option%20Scheme) A new share option scheme was adopted in February 2024, replacing the expired one, with 8,930,060 options granted this year, totaling 12,342,060 outstanding options as of March 31, 2025 - The company adopted a new share option scheme ("New Scheme") on February 8, 2024, to replace the expired old scheme[317](index=317&type=chunk) - As of March 31, 2025, the company had **12,342,060** outstanding share options, of which **8,930,060** were granted during the current year under the New Scheme[335](index=335&type=chunk)[337](index=337&type=chunk) [Connected Transactions](index=62&type=section&id=Connected%20Transactions) The Group engaged in two discloseable continuing connected transactions: an IP licensing agreement with Star Overseas Limited (HKD 1.3 million paid) and a promotion service framework agreement with Shenzhen Xinfeng Wenchuan Development Co., Ltd - An IP licensing agreement was signed with Star Overseas Limited (wholly owned by Executive Director Ms. Amy Chow Man Kei) for "The New King of Comedy" IP, with **HKD 1.3 million** in royalties paid this year[344](index=344&type=chunk)[354](index=354&type=chunk) - A promotion service framework agreement was signed with Shenzhen Xinfeng Wenchuan Development Co., Ltd., which holds a **49% equity stake** in Xingfeng, a non-wholly owned subsidiary of the Group, for a term of two years[355](index=355&type=chunk)[356](index=356&type=chunk) [Environmental, Social and Governance Report](index=66&type=section&id=Environmental,%20Social%20and%20Governance%20Report) The Board oversees ESG strategy and risk management, integrating key issues like data privacy, safety, and operational security into the enterprise risk management framework [ESG Governance and Risk Management](index=70&type=section&id=ESG%20Governance%20and%20Risk%20Management) The Board oversees ESG strategy and risk management, integrating key issues like data privacy, safety, and operational security into the enterprise risk management framework - The Board assumes ultimate responsibility for ESG and has integrated ESG risks into the overall risk management system[385](index=385&type=chunk)[388](index=388&type=chunk) - The four most material ESG issues identified this year are: personal data privacy protection, data security, occupational health and safety, and operational safety management[397](index=397&type=chunk)[400](index=400&type=chunk) [Environmental Aspects](index=76&type=section&id=Environmental%20Aspects) The Group's direct environmental impact is minimal, with reduced emissions and consumption due to cinema closures, while actively managing environmental risks and promoting green practices Environmental Performance Indicators | Environmental Performance Indicator | Unit | FY2025 | FY2024 | | :--- | :--- | :--- | :--- | | Greenhouse Gas Emissions (Scope 2) | tonnes of CO2 equivalent | **154** | **305** | | Non-hazardous Waste Generated | kg | **6,754** | **23,234** | | Electricity Consumption | kWh | **258,501** | **393,823** | - The Group has identified and formulated measures to address both physical risks (e.g., typhoons, floods) and transition risks (e.g., stricter regulations) posed by climate change[433](index=433&type=chunk) [Social Aspects](index=82&type=section&id=Social%20Aspects) The Group prioritizes employee welfare, health, and safety, with increased headcount and reduced turnover, while upholding strict standards for data privacy, intellectual property, and anti-corruption Employee Data | Employee Data | FY2025 | FY2024 | | :--- | :--- | :--- | | Total Employees | **102** | **28** | | Employee Turnover Rate | **6.86%** | **28.6%** | - The Group strictly adheres to regulations concerning advertising, marketing, and intellectual property, and signs confidentiality agreements with all contractors and business partners to prevent infringement[478](index=478&type=chunk)[486](index=486&type=chunk) - The Group has established an "Anti-Bribery/Anti-Corruption Policy" and maintains a zero-tolerance stance on unethical business practices such as corruption and bribery, with no corruption-related lawsuits found this year[494](index=494&type=chunk)[495](index=495&type=chunk) [Independent Auditor's Report](index=94&type=section&id=Independent%20Auditor's%20Report) The auditor issued an unmodified opinion on the financial statements but highlighted a material uncertainty regarding going concern due to multi-year losses and capital deficiency, with revenue recognition as a key audit matter [Independent Auditor's Report](index=94&type=section&id=Independent%20Auditor's%20Report) The auditor issued an unmodified opinion on the financial statements but highlighted a material uncertainty regarding going concern due to multi-year losses and capital deficiency, with revenue recognition as a key audit matter - The auditor's opinion is unmodified, stating that the financial statements present a true and fair view[501](index=501&type=chunk) - The report emphasizes a "material uncertainty related to going concern," noting that the Group's multi-year losses, a net loss of **HKD 23.262 million** for the current year, and a capital deficiency of **HKD 31.723 million** may cast significant doubt on its ability to continue as a going concern; this matter does not affect the auditor's opinion[505](index=505&type=chunk)[508](index=508&type=chunk) - A key audit matter is "Revenue from cinema investment and management business and film entertainment, new media development and licensing business," due to its material quantitative significance to the consolidated statement of profit or loss[511](index=511&type=chunk) [Audited Consolidated Financial Statements](index=101&type=section&id=Audited%20Consolidated%20Financial%20Statements) This section provides detailed explanations and supplementary information for the consolidated financial statements, covering accounting policies, segment information, and key financial details [Consolidated Statement of Profit or Loss](index=101&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss) Revenue increased by 55% to HKD 12.114 million, but higher administrative and share-based payment costs led to an expanded annual loss of HKD 23.262 million Consolidated Statement of Profit or Loss Summary (HKD thousand) | Item | FY2025 | FY2024 | | :--- | :--- | :--- | | Revenue | **12,114** | **7,848** | | Gross Profit | **6,165** | **4,323** | | Administrative Expenses | **(20,244)** | **(13,241)** | | Share-based Payments | **(4,591)** | **–** | | **Loss for the Year** | **(23,262)** | **(12,073)** | | Loss Attributable to Owners of the Company | **(21,447)** | **(12,781)** | | Basic Loss Per Share (HK cents) | **(20.89)** | **(12.45)** | [Consolidated Statement of Financial Position](index=103&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) Total assets increased to HKD 53.388 million, while total liabilities rose to HKD 85.111 million, resulting in an expanded capital deficiency of HKD 31.723 million Consolidated Statement of Financial Position Summary (HKD thousand) | Item | March 31, 2025 | March 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **53,388** | **14,883** | | Current Assets | **52,425** | **14,271** | | Non-current Assets | **963** | **612** | | **Total Liabilities** | **85,111** | **28,796** | | Current Liabilities | **84,569** | **12,771** | | Non-current Liabilities | **542** | **16,025** | | **Net Liabilities** | **(31,723)** | **(13,913)** | | **Total Capital Deficiency** | **(31,723)** | **(13,913)** | [Consolidated Statement of Cash Flows](index=106&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) Net cash inflow from operating activities significantly improved to HKD 27.72 million, driven by advance production costs, with period-end cash and cash equivalents rising to HKD 40.226 million Consolidated Statement of Cash Flows Summary (HKD thousand) | Item | FY2025 | FY2024 | | :--- | :--- | :--- | | Net Cash from Operating Activities | **27,720** | **(8,202)** | | Net Cash from Investing Activities | **1** | **213** | | Net Cash Used in Financing Activities | **(952)** | **(1,341)** | | Increase/(Decrease) in Cash and Cash Equivalents | **26,769** | **(9,330)** | | **Cash and Cash Equivalents at End of Period** | **40,226** | **13,593** | [Notes to the Consolidated Financial Statements](index=109&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) This section provides detailed explanations and supplementary information for the consolidated financial statements, covering accounting policies, segment information, and key financial details - Note 2 explicitly states that, given the Group's multi-year losses and capital deficiency, there is a material uncertainty that may cast significant doubt on its ability to continue as a going concern[548](index=548&type=chunk)[550](index=550&type=chunk) - Note 7 discloses segment information, indicating that revenue from film entertainment, new media development, and licensing businesses has surpassed that of traditional cinema investment and management businesses[825](index=825&type=chunk) - Note 26 explains the significant increase in "Other payables and accrued charges," primarily due to the inclusion of **HKD 54.18 million** in initial production costs received in advance from customers[952](index=952&type=chunk) [Five-Year Financial Summary](index=216&type=section&id=Five-Year%20Financial%20Summary) This chapter summarizes the Group's five-year financial performance (2021-2025), showing consistent losses and a net liability position since FY2023 [Five-Year Financial Summary](index=216&type=section&id=Five-Year%20Financial%20Summary) This chapter summarizes the Group's five-year financial performance (2021-2025), showing consistent losses and a net liability position since FY2023 Five-Year Financial Data Summary (HKD thousand) | Fiscal Year | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | **Revenue** | **12,114** | **7,848** | **5,522** | **8,494** | **6,860** | | **Loss Attributable to Owners of the Company** | **(21,447)** | **(12,781)** | **(9,030)** | **(13,779)** | **(21,488)** | | **Total Assets** | **53,388** | **14,883** | **24,160** | **35,407** | **43,948** | | **Total Liabilities** | **85,111** | **(28,796)** | **(26,280)** | **(30,760)** | **(35,127)** |

此乃要件 請即處理 閣下如對本通函任何方面或應採取之行動有任何疑問，應諮詢 閣下之持牌證券商、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如 已 將 名 下 之 比 高 集 團 控 股 有 限 公 司（「本公司」）股 份 全 部 售出或轉讓，應立 即將本通函及隨附之代表委任表格送交買主或承讓人或經手買賣或轉讓之銀行、 持牌證券商或其他代理商，以便轉交買主或承讓人。 （股份代號：8220） (1)建議授出配發及發行新股份以及 本公司購回其本身股份的一般授權； (2)建議重選董事； 及 (3)股東週年大會通告 本 公 司 謹 訂 於 二 零 二 五 年 九 月 九 日（星 期 二）上 午 十 一 時 三 十 分 假 座 香 港 中 環 都 爹 利 街11號律敦治中心律敦治大廈10樓 舉 行 股 東 週 年 大 會（「股東週年大會」），大 會 通告載於本通函第19至23頁。隨本通函附奉股東週年大會適用之代表委任表格。 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通函之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本通函全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承 ...

[Financial Statements](index=2&type=section&id=Financial%20Statements) [Consolidated Income Statement](index=2&type=section&id=Consolidated%20Income%20Statement) In FY2025, the Group's total revenue increased by 54.4% to **HK$12.114 million**, driven by new media development, while the annual loss widened by 92.7% from **HK$12.073 million** to **HK$23.262 million** due to increased administrative expenses and share-based payments, with basic loss per share rising from **12.45 HK cents** to **20.89 HK cents** Consolidated Income Statement Key Data (For the year ended March 31) | Indicator | 2025 (HK$'000) | 2024 (HK$'000) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | 12,114 | 7,848 | +54.4% | | Gross Profit | 6,165 | 4,323 | +42.6% | | Administrative Expenses | (20,244) | (13,241) | +52.9% | | Share-based Payments | (4,591) | – | N/A | | Loss Before Tax | (21,792) | (12,004) | +81.5% | | Loss for the Year | (23,262) | (12,073) | +92.7% | | Loss Attributable to Owners of the Company | (21,447) | (12,781) | +67.8% | | Basic and Diluted Loss Per Share (HK cents) | (20.89) | (12.45) | +67.8% | [Consolidated Statement of Comprehensive Income](index=3&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) The Group recorded a total comprehensive loss of **HK$22.943 million** for the fiscal year, a significant increase from **HK$11.793 million** in the prior year, with **HK$21.184 million** attributable to owners of the Company Total Comprehensive Income/Loss (For the year ended March 31) | Indicator | 2025 (HK$'000) | 2024 (HK$'000) | | :--- | :--- | :--- | | Loss for the Year | (23,262) | (12,073) | | Other Comprehensive Income | 319 | 280 | | Total Comprehensive Loss for the Year | (22,943) | (11,793) | | Total Comprehensive Loss Attributable to Owners of the Company | (21,184) | (12,597) | [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2025, total assets significantly increased to **HK$53.388 million**, primarily due to higher cash and other receivables, while total liabilities surged to **HK$85.111 million**, mainly from a large initial production cost and convertible bonds, resulting in a net liability position and an expanded capital deficiency from **HK$13.913 million** to **HK$31.723 million** Consolidated Statement of Financial Position Key Data (As of March 31) | Indicator | 2025 (HK$'000) | 2024 (HK$'000) | | :--- | :--- | :--- | | **Assets** | | | | Cash and Cash Equivalents | 40,226 | 13,593 | | Total Assets | 53,388 | 14,883 | | **Liabilities** | | | | Other Payables and Accruals | 57,727 | 2,882 | | Total Liabilities | 85,111 | 28,796 | | **Equity** | | | | Net Current (Liabilities)/Assets | (32,144) | 1,500 | | Net Liabilities | (31,723) | (13,913) | | Total Capital Deficiency | (31,723) | (13,913) | [Notes to the Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) [Note 1: Basis of Preparation and Going Concern](index=6&type=section&id=1.%20Basis%20of%20Preparation) Financial statements are prepared on a going concern basis, despite significant uncertainties highlighted by management and auditors, including a net loss of **HK$23.262 million** and a capital deficiency of **HK$31.723 million** at year-end, prompting management to implement cost control, seek shareholder support, and explore new business ventures - The Group has incurred losses for several years, with a net loss of **HK$23.262 million** this fiscal year and a capital deficiency of **HK$31.723 million** at year-end, indicating significant uncertainty regarding its ability to continue as a going concern[8](index=8&type=chunk)[46](index=46&type=chunk) - To improve its financial position, management has implemented or plans to implement measures including strict cost control, negotiating financial support with major shareholders, and seeking potential businesses that can generate positive cash flow[9](index=9&type=chunk)[10](index=10&type=chunk) [Note 3: Segment Information](index=7&type=section&id=3.%20Segment%20Information) The Group operates in two segments; this fiscal year, revenue from 'Film Entertainment, New Media Development and Licensing Business' surged from **HK$2.105 million** to **HK$9.367 million**, becoming the primary revenue source, while 'Cinema Investment and Management Business' revenue declined from **HK$5.743 million** to **HK$2.747 million**, with Mainland China remaining the core market contributing **98%** of total revenue Segment Revenue and Results (For the year ended March 31, HK$'000) | Segment | 2025 Revenue | 2024 Revenue | 2025 Results | 2024 Results | | :--- | :--- | :--- | :--- | :--- | | Cinema Investment and Management Business | 2,747 | 5,743 | (2,639) | 353 | | Film Entertainment, New Media Development and Licensing Business | 9,367 | 2,105 | (17) | 831 | | **Total** | **12,114** | **7,848** | **(2,656)** | **1,184** | Revenue from External Customers by Geographical Area (HK$'000) | Region | 2025 | 2024 | | :--- | :--- | :--- | | Hong Kong | 235 | 2,105 | | China | 11,879 | 5,743 | | **Total** | **12,114** | **7,848** | - Two new major customers (Customer A and Customer B) emerged this year, both from the 'Film Entertainment, New Media Development and Licensing Business' segment, collectively contributing **HK$8.132 million** in revenue, accounting for **67%** of total revenue[23](index=23&type=chunk) [Note 4: Revenue Analysis](index=10&type=section&id=4.%20Revenue) Total revenue for the fiscal year reached **HK$12.114 million**, a 54.4% year-on-year increase, primarily driven by **HK$6.671 million** from the new 'New Media Development Business', while cinema business revenue significantly declined by 52.2% to **HK$2.747 million**, and licensing business revenue grew by 28.1% to **HK$2.696 million** Revenue by Business Type (HK$'000) | Business Type | 2025 | 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Cinema Business | 2,747 | 5,743 | -52.2% | | Licensing Business | 2,696 | 2,105 | +28.1% | | New Media Development Business | 6,671 | – | N/A | | **Total** | **12,114** | **7,848** | **+54.4%** | [Note 8: Dividends](index=13&type=section&id=8.%20Dividends) The Board did not recommend the payment of any dividends for the year ended March 31, 2025, consistent with the prior year - The Board did not recommend the payment of any dividends for the current year (2024: nil)[30](index=30&type=chunk) [Note 12: Other Payables and Accruals](index=16&type=section&id=12.%20Other%20Payables%20and%20Accruals) Other payables and accruals surged from **HK$2.882 million** last year to **HK$57.727 million**, primarily due to **HK$54.18 million** (RMB50 million) in initial production costs received from a customer as prepayment for a five-year strategic cooperation framework agreement, which has not yet been recognized as revenue - In September 2024, the Group received an initial production cost prepayment of RMB50 million (approximately **HK$54.18 million**) from a customer, recorded under other payables, related to a strategic cooperation framework agreement from August 31, 2024, to July 31, 2029[44](index=44&type=chunk) [Independent Auditor's Report Excerpt](index=17&type=section&id=Independent%20Auditor's%20Report) [Auditor's Opinion](index=17&type=section&id=Auditor's%20Opinion) The auditor issued an unmodified opinion on the consolidated financial statements, affirming their true and fair presentation of the Group's financial position and performance, while specifically highlighting significant uncertainties related to going concern without modifying the opinion - The auditor believes the consolidated financial statements present a true and fair view of the Group's financial position and performance in accordance with Hong Kong Financial Reporting Standards[45](index=45&type=chunk) - The auditor's report specifically notes that the Group's multi-year losses, net loss for the current year, and capital deficiency at year-end indicate significant uncertainties that may cast substantial doubt on its ability to continue as a going concern, though the auditor did not modify their opinion on this matter[46](index=46&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) [Business Review](index=17&type=section&id=Business%20Review) This fiscal year, the Group strategically shifted focus to film entertainment, new media, and licensing, achieving initial success with a landmark strategic partnership with Beijing iQIYI, receiving substantial prepayments expected to drive future revenue, while traditional cinema business revenue declined due to market weakness and maintenance, leading to an expanded loss despite revenue growth, primarily due to increased administrative expenses, staff costs, and non-cash share option expenses [Cinema Business Review](index=17&type=section&id=Cinema%20Business%20Review) Cinema business underperformed this year, with revenue decreasing from **HK$5.7 million** to **HK$2.7 million**, primarily due to a weak overall Chinese film market and the closure of the Hangzhou cinema for approximately **1.5 months** for renovation - Due to the underperformance of the Chinese film market and the closure of the Hangzhou cinema for approximately **1.5 months** for maintenance, cinema business revenue decreased from **HK$5.7 million** to **HK$2.7 million**[48](index=48&type=chunk) [Film Entertainment, Licensing and New Media Business Review](index=18&type=section&id=Film%20Entertainment,%20Licensing%20and%20New%20Media%20Business%20Review) This segment emerged as a growth highlight, with the Group entering a five-year strategic partnership with Beijing iQIYI and Zhouling Culture Media to co-develop IP projects involving Mr. Stephen Chow, receiving a **RMB50 million** prepayment from Beijing iQIYI, recognizing approximately **HK$6.2 million** in service fees from 'King of Comedy' IP licensing and promotional services, and new joint ventures (Xingfeng and Xingyu) generating approximately **HK$4.2 million** in new media business revenue - A definitive cooperation agreement was signed with Beijing iQIYI, and although no revenue was generated this year, a substantial cash payment was received, which the company believes will be a primary revenue driver for the next five years[49](index=49&type=chunk) - A five-year strategic cooperation framework agreement (August 2024 to July 2029) was signed with Beijing iQIYI and Zhouling Culture Media for joint production of films, TV series, and other content[53](index=53&type=chunk) - Through the establishment of joint ventures 'Xingfeng' and 'Xingyu', the Group officially entered the multi-channel network (MCN) and new media marketing services sectors, generating revenue within the year[60](index=60&type=chunk)[62](index=62&type=chunk) [Financial Review](index=22&type=section&id=Financial%20Review) Total turnover increased to **HK$12.1 million** this year, primarily driven by new media development, but the annual loss widened from **HK$12.1 million** to **HK$23.3 million**, mainly due to a **HK$7 million** increase in administrative expenses (business development and staff costs) and **HK$4.6 million** in non-cash share option expenses - Total turnover increased from **HK$7.8 million** to **HK$12.1 million**, attributed to the newly launched new media development business[63](index=63&type=chunk) - The annual loss increased from **HK$12.1 million** to **HK$23.3 million**, primarily due to increased administrative expenses and **HK$4.6 million** in non-cash share-based payments from the grant of share options[63](index=63&type=chunk) [Liquidity and Capital Structure](index=22&type=section&id=Liquidity%20and%20Capital%20Structure) As of the reporting period, the Group held approximately **HK$40.2 million** in cash and equivalents, with total assets increasing to **HK$53.4 million**, and the liability ratio (total liabilities/total assets) decreasing from **1.93** to **1.59**; despite current liabilities of **HK$84.6 million**, the Board believes the Group has sufficient resources for working capital needs, as **HK$54.2 million** of this includes prepaid production costs to be recognized as future revenue Liquidity and Capital Structure Indicators (As of March 31) | Indicator | 2025 | 2024 | | :--- | :--- | :--- | | Cash and Cash Equivalents (HK$'000) | 40,200 | 13,600 | | Total Assets (HK$'000) | 53,400 | 14,900 | | Liability Ratio | 1.59 | 1.93 | - The Board believes the Group has sufficient resources to meet working capital requirements, as approximately **HK$57.7 million** of other payables within current liabilities includes **HK$54.2 million** in initial production costs that will be recognized as revenue in the future[65](index=65&type=chunk) [Employees](index=23&type=section&id=Employees) To support new business development, the Group's employee count significantly increased from **28** to **102**, with total staff costs rising from **HK$6.4 million** to approximately **HK$10 million**, including remuneration for new business personnel and expenses from share option grants - Due to new business development, the Group's employee count significantly increased from **28** in 2024 to **102** in 2025[67](index=67&type=chunk) - Total annual staff costs (including directors' emoluments) increased from **HK$6.4 million** to approximately **HK$10 million**[67](index=67&type=chunk) [Outlook](index=25&type=section&id=Outlook) The Group will strategically focus on the high-growth potential 'Film Entertainment, New Media Development and Licensing Business', with the Beijing iQIYI partnership as a core growth engine expected to generate significant revenue in the coming years, while continuing to expand its new media and licensing footprint through IP licensing, content creation, and joint ventures, venturing into cutting-edge AIGC gaming, and adopting a more cautious approach to traditional cinema business by closely monitoring market changes and exercising prudent expansion - The Group will intensify efforts to develop its new media development and licensing business, leveraging its experience in film production and IP licensing for expansion[73](index=73&type=chunk) - The collaboration with Beijing iQIYI is expected to achieve significant growth in FY2025/2026 and throughout the contract period, with received prepayments substantially improving the company's cash flow[73](index=73&type=chunk) - A more cautious approach will be adopted for the cinema business, given the significant decline in China's overall cinema market, with close monitoring of this segment[72](index=72&type=chunk) - In May 2025, the Group completed an investment in Hangzhou Jiyi Artificial Intelligence Technology Co, Ltd, acquiring a **12%** equity stake in the company that developed the AIGC large model 'Xingyi', aiming to enter the AIGC gaming industry[82](index=82&type=chunk) [Corporate Governance](index=29&type=section&id=Corporate%20Governance) [Corporate Governance Code](index=29&type=section&id=Corporate%20Governance%20Code) The Company complied with the GEM Listing Rules' Corporate Governance Code this year, with one significant deviation: the absence of separate Chairman and Chief Executive Officer roles, which the Board is actively seeking to fill, with current responsibilities shared among all Board members - The Company complied with most provisions of the Corporate Governance Code this year, but with deviations[86](index=86&type=chunk) - The main deviation is the absence of separate Chairman and Chief Executive Officer positions, contrary to the Code's requirement for distinct roles; the Board currently collectively assumes these responsibilities[86](index=86&type=chunk)[87](index=87&type=chunk) [Audit Committee](index=31&type=section&id=Audit%20Committee) The Company's Audit Committee, comprising three independent non-executive directors, reviewed the annual results, accounting principles, and practices for the year, and discussed matters related to audit, risk management, internal control, and financial reporting - The Audit Committee comprises three independent non-executive directors, with Mr. Tsui Wing Tak as Chairman[95](index=95&type=chunk) - The Audit Committee has reviewed the annual results and related financial matters for the year with management[95](index=95&type=chunk)

（ 於開曼群島註冊成立之有限公司） （股份代號：8220） 提名委員會（「委員會」）的職權範圍 （ 於二零一二年三月二十二日獲採納並於二零一三年十月四日、 二零一八年十二月三十一日及二零二五年六月二十七日獲修訂 ） 成員 會議次數及議事程序 – 1 – BINGO GROUP HOLDINGS LIMITED 比 高 集 團 控 股 有 限 公 司 7. 委 員會 會 議 的議 事 程 序受《GEM證 券 上市 規 則》之《企 業 管 治 守則》相關 守則條文（ 不時作出修訂 ）所規管。 職責、權力及職能 – 2 – 8. 委員會須— (a) 制定提名政策供董事會考慮，並執行經董事會批准的提名政策；及 (b) 在不影響上述一般性的情況下： (i) 至少每年檢討董事會的架構、人數、組成及成員多元化（ 包括但 不 限 於 性 別 、 年 齡 、 文 化 及 教 育 背 景 、 種 族 、 專 業 經 驗 、 技 能、知識及服務任期方面 ）、協助董事會維持董事會技能矩陣， 並按本公司的企業策略向董事會提出任何改動建議； (ii) 訂 定 提 名 董 事 的 政 策 ， 物 色 具 備 合 適 資 格 可 擔 任 董 ...

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 部分 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。 BINGO GROUP HOLDINGS LIMITED 比 高 集 團 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：8220） 補充公告 須予披露交易 訂立投資協議 茲提述 比高集團 控股有限公 司（「本 公司」）日 期為二零 二五年五 月二十日的 公告（「該公告」），內容有關（ 其中包括 ）投資協議相關的須予披露交易。除 另行界定外，本公告所採用之詞彙應具有該公告界定之相同涵義。 有關目標公司估值的補充資料 目標公司的估值乃參考獨立估值師採用市場法識別的9項可資比較集資交易 釐定。 生 成 式人 工 智 能 驅 動遊 戲 初 創 公司 可 資 比 較 集資 交 易 的 篩 選標 準 包 括 定性 及 主 題評 估 ； 及 ...

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 告之 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 就因 本 公告 全部 或任 何 部分 內 容而 產生 或 因倚 賴 該等 內容 而 引致 之 任何 損失 承 擔任 何 責任 。 BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 ( 於 開 曼 群 島 註 冊 成 立 之 有 限 公 司 ) (股 份 代 號 ： 8 2 20 ) 董事會會議日期 比高 集 團控 股 有限 公司（「本公司 」）之董 事（「董 事 」）會（「董事會 」）謹 此宣 佈，本公 司 將 於二 零 二五 年 六月 二十 七 日（星 期 五）舉行 董 事會 會 議，藉以 考慮及批准本公司及其附屬公司截至二零 二 五 年 三 月 三 十 一 日 止 之 全 年 業 績 及 派發 股 息之 建 議（ 如有 ） ，以 及 處理 其他 事 項。 承董 事 會命 比 高 集 團 控 股有 限公 司 執行 董 事 劉文傑 香港 ， 二零 二 五年 六月 十 六日 1 於本 公 ...

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 部分 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。 BINGO GROUP HOLDINGS LIMITED 比 高 集 團 控 股 有 限 公 司 茲提述 比高集團 控股有限公 司（「本 公司」）日 期為二零 二五年五 月九日之通 函（「通函」）及本公司公 告日期為 二零二五年 五月二十 八日之有 關押後股東 特 別 大會 。 除 另 行 界定 外 ， 本 公告 所 採 用 之 詞彙 ， 應 具 有 通函 界 定 之 相同 涵義。 股東特別大會投票結果 董事會欣然宣佈，於二零二五年六月六日（ 星期五 ）上午約十一時三十分舉 行 的 股東 特 別 大 會 上， 股 東 特 別大 會 通 告 所 載的 建 議 普 通 決議 案 已 獲 股東 正式投票通過。 本 公 司之 香 港 股 份 過戶 登 記 分 處 ...