Revenue and Profit Performance - For the six months ended September 30, 2024, Bingo Group Holdings Limited generated revenue of HK$0.9 million and gross profit of HK$0.5 million from its Cinema Business, a decrease from HK$3.8 million and HK$2.3 million respectively in the same period of 2023[41]. - Cinema business generated revenue of approximately HK$900,000 and gross profit of HK$500,000 during the period, a decrease compared to HK$3,800,000 in revenue and HK$2,300,000 in gross profit for the six months ended September 30, 2023[43]. - During the period, the Group recorded a revenue decrease from the Cinema Business, dropping from approximately HK$3.8 million in Period 2023 to approximately HK$0.9 million[90]. - Revenue from the Licensing Business increased from HK$1.6 million in Period 2023 to HK$3.6 million in the current period, primarily due to projects utilizing intellectual property rights from "King of Comedy" and "New King of Comedy"[90]. - The Group recorded a total turnover of approximately HK$4.5 million during the Period, a decrease of about HK$900,000 compared to approximately HK$5.4 million in the same period last year[92]. - The company reported a loss for the period of HK$11,583,000, compared to a loss of HK$5,292,000 in the same period last year, representing a 119% increase in losses[188]. - Total comprehensive loss for the period amounted to HK$11,621,000, up from HK$4,930,000 in the previous year, indicating a 136% increase[189]. Cinema Business Challenges - The closure of the Shanghai cinema in May 2023 and a 1.5-month closure of the Hangzhou cinema for repairs contributed to the decline in revenue from the Cinema Business[42]. - The closure of the Shanghai cinema in May 2023 due to rental disputes and a 1.5-month shutdown of the Hangzhou cinema for maintenance contributed to the decline in cinema business revenue[43]. - The cinema business revenue decreased due to the closure of the Shanghai cinema and repair works in Hangzhou, prompting the Group to conduct feasibility studies for opening a new cinema[117]. - The Group plans to open one new cinema and is considering the acquisition of existing cinemas to expand its market presence[117]. - The Group is adopting a more prudent approach in its cinema business due to slower-than-expected economic growth in Mainland China, while recognizing substantial growth potential in the market[117]. Strategic Partnerships and Collaborations - A memorandum of understanding was signed with Beijing iQIYI on April 22, 2024, for potential strategic cooperation in producing various entertainment projects, although no revenue was generated from this segment during the period[43]. - The strategic cooperation framework agreement with Beijing iQIYI and Zhouling Culture & Media is effective from August 31, 2024, to July 31, 2029, focusing on co-producing projects based on prescribed intellectual properties[69]. - Beijing iQIYI will have exclusive cooperation rights for selected intellectual properties during the cooperation period, with the option to negotiate other IPs not selected[72]. - The strategic cooperation aims to leverage the expertise of all partners in various entertainment formats, including movies, TV series, and musicals[57]. - The Group expects significant revenue growth from the collaboration with Beijing iQIYI, with substantial cash collected within a month of signing the Strategic Cooperation Framework Agreement[165]. - The collaboration with Sinohope is anticipated to generate substantial revenue in the financial year 2024/25[167]. Financial Position and Liabilities - The Group incurred a loss of approximately HK$11.6 million for the period, compared to a loss of HK$5.3 million in Period 2023, with the increase attributed to non-cash share-based payments of approximately HK$6.1 million[90]. - Current liabilities increased significantly to HK$68,863,000 from HK$12,771,000, reflecting a substantial rise in financial obligations[193]. - The company's net current liabilities stood at HK$3,619,000, a decline from net current assets of HK$1,500,000 in the previous period[193]. - Cash and cash equivalents rose to HK$53,475,000, compared to HK$13,593,000, showing a significant improvement in liquidity[193]. - The debt ratio as of 30 September 2024 was approximately 1.29, down from 1.93 as of 31 March 2024, indicating a significant change in the Group's financial leverage[96]. - The Group expects to cover its current liabilities of approximately HK$68.9 million, as most contract liabilities of approximately HK$63.8 million are anticipated to be recognized as revenue[97]. New Media and IP Development - The Group has focused more on the development of new media and IP licensing, leveraging its film production experience[132]. - As of September 30, 2024, certain subsidiaries are specialized in developing new media businesses, including augmented reality digital live action role-playing games and IP consultancy[133]. - The Company has entered into an agreement with Wonder Cat Animation to produce three animated movies based on specific IPs, with releases planned from 2025 to 2027[157]. - The Group's IP licensing includes rights to "The Mermaid" and other properties, enhancing its portfolio for future projects[160]. - The Group aims to license IP usage and production rights to third parties and form joint ventures with well-recognized brands in Greater China and overseas[165]. - The Group has successfully licensed IP rights for various projects, indicating a strong pipeline for future revenue generation[165]. Operational and Cost Management - Total staff costs for the Period increased to approximately HK$5.3 million from HK$4.0 million in the previous year, reflecting a growing workforce[99]. - Selling and marketing expenses were reported at HK$267,000, while administrative expenses totaled HK$6,631,000, indicating a focus on cost management despite losses[188]. - The Group has discontinued the pursuit of certain business opportunities due to changes in business development[135]. - The Group is finalizing details of a contract with Jumoon for project management services, with further details to be released soon[164]. - The Investment Fund is currently in the formation stage, and no revenue was generated during this period due to the lack of services performed[182].

Revenue and Profit Performance - Revenue for the six months ended September 30, 2024, was HK$4.525 million, a decrease of 16% compared to HK$5.387 million in the same period in 2023[4] - Gross profit for the period was HK$2.799 million, down 4% from HK$2.915 million in the previous year[4] - The company reported a net loss of HK$11.583 million for the six months ended September 30, 2024, compared to a net loss of HK$5.292 million in the same period in 2023[4] - Basic and diluted loss per share was HK$11.21, compared to HK$5.32 in the previous year[4] - Total comprehensive loss for the period was HK$11.621 million, compared to HK$4.930 million in the same period in 2023[6] - Revenue from cinema operations decreased to HKD 893k in the six months ended September 30, 2024, compared to HKD 3,769k in the same period in 2023[17] - Revenue from franchise operations increased to HKD 3,632k in the six months ended September 30, 2024, compared to HKD 1,618k in the same period in 2023[17] - Total revenue for the six months ended September 30, 2024, was HKD 4,525k, down from HKD 5,387k in the same period in 2023[17] - Cinema business revenue decreased to HKD 900,000 with a gross profit of HKD 500,000, compared to HKD 3,800,000 in revenue and HKD 2,300,000 in gross profit during the same period last year[68] - The company's total revenue for the period was approximately HKD 4,500,000, a decrease of HKD 900,000 compared to HKD 5,400,000 in 2023, primarily due to a decline in cinema business revenue[87] - The company recorded a loss of approximately HKD 11,600,000 for the period, an increase of HKD 6,300,000 compared to the loss of HKD 5,300,000 in 2023, mainly due to non-cash share-based payments[88] Cash and Financial Position - Cash and cash equivalents as of September 30, 2024, stood at HK$53.475 million, a significant increase from HK$13.593 million as of March 31, 2024[8] - Total liabilities as of September 30, 2024, were HK$68.863 million, compared to HK$12.771 million as of March 31, 2024[8] - The company's net asset position deteriorated to a deficit of HK$19.412 million as of September 30, 2024, from a deficit of HK$13.913 million as of March 31, 2024[9] - Total assets as of September 30, 2024, were HKD 65,930k, with total liabilities of HKD 85,342k[20] - The company's total assets as of September 30, 2024, included HKD 60,418k in reportable segment assets and HKD 5,494k in unallocated corporate assets[20] - The company's total liabilities as of September 30, 2024, included HKD 65,537k in reportable segment liabilities and HKD 71k in tax payable[20] - As of September 30, 2024, the company's total assets were approximately HKD 65,900,000, with cash and cash equivalents increasing by over 293% to HKD 53,500,000 compared to March 31, 2024[89] - The company's debt ratio as of September 30, 2024, was approximately 1.29, down from 1.93 on March 31, 2024, with the company confident in its ability to meet liquidity needs[89] Expenses and Costs - Administrative expenses decreased to HK$6.631 million from HK$7.159 million in the previous year[4] - The company recognized a share-based payment expense of HK$6.122 million during the period, which was not present in the previous year[4] - Financing costs increased to 1,144 thousand HKD in the first six months of 2024, up from 1,034 thousand HKD in the same period of 2023, driven by higher interest on convertible bonds (1,042 thousand HKD vs. 911 thousand HKD)[33] - Pre-tax loss for the first six months of 2024 was primarily impacted by higher direct expenses in the licensing business (1,335 thousand HKD vs. 938 thousand HKD) and lower direct expenses in the cinema business (391 thousand HKD vs. 1,534 thousand HKD)[34] - The company's total employee cost increased by approximately HKD 1.3 million, primarily due to a HKD 2.5 million share-based payment during the period[93] Strategic Partnerships and Agreements - The company signed a project management service agreement with Jumoon Group Limited, with a service fee of 30% of the project's net profit, or 20% if Stephen Chow is involved in the creative production[62] - A strategic cooperation framework agreement was signed with Beijing iQIYI and Zeus Culture Media, effective from August 31, 2024, to July 31, 2029, for joint production of films and other content[73] - Beijing iQIYI has the exclusive right to select up to four intellectual properties (IPs) from the company's list within three months of the agreement date for development and production[75] - The strategic cooperation with Beijing iQIYI and Zeus Culture Media will extend to July 31, 2032, for any final projects initiated during the cooperation period[76] - The company expects to complete at least one final project's pre-production, including script development, budgeting, and other necessary preparations, by July 31, 2025[77] - The company received RMB 50,000,000 (approximately HKD 55,400,000) from Beijing iQIYI in September 2024, which is recognized as contract liabilities, with partial recognition as revenue expected by April 1, 2025[83] - The strategic partnership with iQIYI and Zeus Culture Media is expected to significantly boost the company's video entertainment and IP licensing revenue until at least August 31, 2029[113] Intellectual Property and Licensing - The licensing and service fees for the intellectual property of "The King of Comedy" and "The New King of Comedy" amounted to RMB 3,300,000 (approximately HKD 3,600,000) during the period[71] - The company entered into a licensing agreement with Star Shine Overseas Limited for the intellectual property of the film "The New King of Comedy," with an annual royalty fee cap of HKD 1,300,000 for a three-year period starting February 29, 2024[58] - The company recorded a royalty fee of HKD 1,300,000 payable to Star Shine Overseas Limited for the six months ended September 30, 2024, based on sales revenue of HKD 3,578,000[61] - The company has secured free IP licenses for "Mermaid," "Journey to the West: Conquering the Demons," and "CJ7," with potential for commercialization through merchandise, games, comics, and secondary content production[111] - The licensing of "The King of Comedy" and "The New King of Comedy" to iQIYI has been successful, with positive audience feedback, and is expected to remain a strong revenue source[112] Corporate Governance and Board Activities - The company has established an Audit Committee consisting of three independent non-executive directors, responsible for reviewing financial reports, risk management, and internal control systems[123] - All directors have complied with the company's code of conduct regarding securities transactions during the six months ended September 30, 2024[124] - The company has generally complied with the GEM Listing Rules and Corporate Governance Code, except for certain deviations[125] - The company currently has no Chairman or CEO, and the Board is actively seeking suitable candidates to fill these positions[126] - The Audit Committee has reviewed the unaudited interim results for the six months ended September 30, 2024, and confirmed compliance with applicable accounting standards and GEM Listing Rules[123] - The Board ensures that all directors are adequately informed about current matters during Board meetings[127] - Board documents must be distributed at least three days before the meeting, unless it is an emergency[128] - The Board encourages open and active discussion, particularly from non-executive directors[132] - The company has adopted a code of conduct for directors' securities transactions that is not less stringent than the GEM Listing Rules[124] - The Board is responsible for ensuring good corporate governance practices and procedures are in place[131] - The Board of Directors includes executive directors such as Mr. Stephen Chow, Ms. Man Kei Chow, Mr. Man Kit Lau, Ms. Ya Chi Chow, Mr. Yiu Pong Yip, and Ms. Fung Chu Tsang, as well as independent non-executive directors Ms. Mei Ping Choi, Mr. Wing Tak Tsui, and Ms. Yat Ching Chan[135] - The company's secretary is required to report to the executive directors as per the company's regular practice[135] - The Board must appoint at least one executive director to attend the Annual General Meeting due to the vacant chairman position[133] - The Remuneration Committee should consult Ms. Man Kei Chow, an executive director and major shareholder, regarding the remuneration proposals for other executive directors[133] Operational and Business Developments - The closure of the Shanghai cinema in May 2023 due to rental disputes and the temporary shutdown of the Hangzhou cinema for maintenance contributed to the decline in cinema business revenue[68] - The video entertainment business did not generate any revenue during the period, despite signing a memorandum of understanding and a final contract with Beijing iQIYI[69] - The joint venture BGM, established in February 2023, generated revenue of approximately HKD 54,000 during the period, compared to HKD 1,600,000 in 2023[84] - The company plans to open a new cinema and is considering acquiring existing cinemas or forming joint ventures with other cinema chains and/or property developers[96] - The company is focusing on new media development and intellectual property licensing, leveraging its experience in film production and IP licensing[98] - The company's joint venture, BGM, generated total revenue of approximately HKD 2.2 million from the sale of "Mermaid" movie-themed tourbillon watches[106] - The company's subsidiary, Bingo Group — Memorigin (BGM) Limited, is considering launching another series of movie-themed tourbillon watches using the company's intellectual property[106] - Wanwei Cat Animation will produce three animated films based on Stephen Chow's IPs, including "Flirting Scholar," "Hail the Judge," and "Fight Back to School," with each IP releasing one film annually from 2025 to 2027[107] - The collaboration with Wanwei Cat Animation aims to produce animated films targeting the Chinese market, with the final format depending on further discussions and market response[108] - Wanwei Cat Animation, a renowned Chinese animation company, has high click-through rates and ratings on platforms like Bilibili, Douyin, and Tencent Video[109] - The company's subsidiary, Gaosheng, signed a consulting service agreement with New Huo Asset Management to provide IP technology consulting services for a futures investment fund[116] - Gaosheng extended its consulting agreement with New Huo in July 2024, with terms similar to the original agreement, though no revenue was generated during the period as the fund was still being established[118] Accounts Receivable and Payable - The group's accounts receivable decreased to 77 thousand HKD as of September 30, 2024, from 168 thousand HKD as of March 31, 2024, with a significant reduction in receivables within 30 days (62 thousand HKD vs. 153 thousand HKD)[45] - Accounts payable increased to 1,408 thousand HKD as of September 30, 2024, from 208 thousand HKD as of March 31, 2024, with a notable rise in payables within 30 days (1,335 thousand HKD vs. 121 thousand HKD)[48] - Accounts payable includes a royalty fee of HKD 1,300,000 payable to Star Shine Overseas Limited, with the amount aged within 30 days[49] Other Financial and Operational Notes - Interest income increased to HKD 64k in the six months ended September 30, 2024, compared to HKD 20k in the same period in 2023[17] - The company recognized a Hong Kong profits tax of 2,000 HKD for the first six months of 2024, significantly lower than the 56,000 HKD recognized in the same period of 2023[35] - The company did not recommend any dividend for the first six months of 2024, consistent with the same period in 2023[38] - The company prepaid 10,000,000 RMB (approximately 11,089,000 HKD) to Zoling Culture Media (Shanghai) Co., Ltd. for project management and consulting services under a strategic cooperation framework[46] - Beijing iQIYI prepaid RMB 50,000,000 (equivalent to HKD 55,445,000) for production costs in September 2024, with no formal production activities conducted as of September 30, 2024[50] - The company issued and fully paid 102,645 thousand ordinary shares with a par value of HKD 0.1 per share as of September 30, 2024[53] - Directors' emoluments, salaries, allowances, and other benefits amounted to HKD 774 thousand for the six months ended September 30, 2024, compared to HKD 390 thousand in the same period in 2023[55] - The company issued convertible bonds with a principal amount of HKD 19,000k, a conversion price of HKD 0.275, and a maturity date of December 31, 2025[28] - The fair value of unexercised stock options granted in 2024 was HKD 6,121,989k, with an exercise price of HKD 1.170[30] - The company's total liabilities as of September 30, 2024, included HKD 16,072k in convertible bonds and HKD 3,662k in unallocated corporate liabilities[20]

BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 ANNUAL REPORT 年 報 2023/24 other matters the omission of which would make any statement BINGO GROUP HOLDINGS LIMITED 1 比高集團控股有限公司 五年財務摘要 2 | --- | --- | |-------------------------------------|-----------------| | | | | BOARD OF DIRECTORS | 董事會 | | Executive Directors | 執行董事 | | CHIAU Sing Chi | 周星馳 | | CHOW Man Ki Kelly | 周文姬 | | LAU Man Kit | 劉文傑 | | CHOW Nga Chee Alice | 周雅緻 | | YIP Yiu Bong | 葉耀邦 | | Independent Non-Executive Directors | 獨立非執行董事 | | CHOI Mei Ping | ...

Revenue and Profitability - The revenue from the "Bullet Screen Mini Game" is generated from TikTok users and viewers paying rewards or tips to online streamers/hosts. This income is distributed through the TikTok system, and the company receives a certain percentage of the total revenue generated by streamers/hosts using the mini game each month[4] - Revenue for the year ended March 31, 2024, was HKD 7,848,000, with a gross profit of HKD 4,323,000, compared to revenue of HKD 5,522,000 and gross profit of HKD 3,216,000 in the previous year[32] - The company recorded a net loss of HKD 12,073,000 for the year ended March 31, 2024, compared to a net loss of HKD 8,377,000 in the previous year[21][32] - The company's total comprehensive loss for the year ended March 31, 2024, was HKD 11,793,000, compared to HKD 7,567,000 in the previous year[33] - Total revenue for the fiscal year ending March 31, 2024, was HK$7.848 million, compared to HK$5.522 million in the previous year[64] - The cinema investment and management business generated HK$5.743 million in revenue, while the new media development and licensing business contributed HK$2.105 million[64] - The company reported a pre-tax loss of HK$12.004 million for the fiscal year ending March 31, 2024, compared to a loss of HK$8.377 million in the previous year[64] - Revenue from cinema ticket sales was HK$4.914 million, while snack sales contributed HK$592 million[71] - The company's basic and diluted loss per share was HK$12.45 for the fiscal year ending March 31, 2024, compared to HK$8.80 in the previous year[80] - The company did not recommend any dividend for the fiscal year ending March 31, 2024[79] - The company's net loss for the fiscal year ending March 31, 2024, was HKD 12,073,000, with a capital deficit of HKD 13,913,000 as of the same date[88] - Total revenue for the year was approximately HKD 7,800,000, an increase of HKD 2,300,000 compared to last year's HKD 5,500,000[95] - The company recorded a loss of approximately HKD 12,100,000 for the year, an increase of HKD 3,700,000 compared to last year's loss of HKD 8,400,000[95] - The company's cinema business generated revenue of approximately HKD 5,700,000 and gross profit of HKD 3,400,000 for the year[114] - The company generated approximately HKD 2.1 million in revenue from the sale of the "Mermaid" movie-themed tourbillon watches by the end of the fiscal year[165] IP Licensing and Commercialization - The company has been granted free IP licenses for "Mermaid," "Journey to the West: Conquering the Demons," and "CJ7" by the IP owners, which are sub-licensed to joint venture companies under specific conditions[5] - The company aims to commercialize IP through product sales, gamification, comic and animation production, and secondary content licensing. It plans to license IP usage and production rights to third parties or establish joint ventures with well-known brands in Greater China and overseas[6] - The company signed a memorandum of understanding with Beijing iQIYI Technology Co., Ltd. and Zeus Culture Media (Shanghai) Co., Ltd. in April 2024 for potential collaboration on original classic films, animations, TV series, reality shows, and musical sequels[91] - The company's subsidiary, Qunwei Investment Limited, secured the main licensing rights for "The New King of Comedy" from Star Overseas Limited, which is controlled by the company's executive director and major shareholder, Ms. Zhou Wenji[130] - The company's focus on new media development and licensing business includes providing IP authorization for new media content creation and various online platforms, leveraging its experience in film production and IP licensing[129] - The company's subsidiary, Gao Yi Limited, is responsible for obtaining and developing IP licenses, marketing and promoting applications, and collaborating with Douyin for compliance in the development of game/bullet screen mini-games[138] - The company has secured IP licenses for "Journey to the West: Conquering the Demons" and "CJ7" to develop and produce bullet-screen mini-games, with initial revenue from this segment at HKD 200,000[170][185] - The company has entered into an agreement with Wanwei Cat Animation to produce three animated films based on Stephen Chow's IPs, with a non-refundable deposit of RMB 1,200,000 received[182] - The company's "IP Accelerator" project manager, Data Hash, will provide project management and consulting services to assist IP owners in promoting and developing their IPs into various products, activities, and digital content[167] Financial Position and Liabilities - The company's capital deficit increased to HKD 13,913,000 as of March 31, 2024, from HKD 2,120,000 in the previous year[21] - The company's convertible bonds increased to HKD 15,031,000 in 2024 from HKD 13,146,000 in 2023[20] - The company's lease liabilities decreased to HKD 994,000 in 2024 from HKD 1,265,000 in 2023[20] - Total assets for the fiscal year ending March 31, 2024, were HK$14.883 million, down from HK$24.160 million in the previous year[64] - The company's total liabilities increased to HK$28.796 million from HK$26.280 million in the previous fiscal year[64] - The company's total assets as of March 31, 2024, were approximately HKD 14,900,000, including cash and cash equivalents of HKD 13,600,000[120] - The company's debt-to-asset ratio as of March 31, 2024, was approximately 1.93, compared to 1.09 in the previous year[120] - The company's cash and cash equivalents decreased from HKD 22,993 million to HKD 13,593 million year-over-year[181] - The company's current assets decreased from HKD 23,675 million to HKD 14,271 million, while current liabilities decreased from HKD 11,869 million to HKD 12,771 million[181] - The company's total assets minus current liabilities decreased from HKD 12,291 million to HKD 2,112 million[181] - The company's property, plant, and equipment increased from HKD 115 million to HKD 126 million, while lease deposits increased from HKD 343 million to HKD 478 million[181] - The company's equity in an associate increased from HKD 16 million to HKD 19 million[181] - The company's inventory increased from HKD 0 to HKD 17 million, while trade receivables increased from HKD 135 million to HKD 168 million[181] - The company's other receivables, deposits, and prepayments decreased from HKD 547 million to HKD 493 million[181] Cost Control and Expenses - Administrative expenses decreased to HKD 13,241,000 in 2024 from HKD 13,705,000 in 2023[32] - The company is implementing cost control measures to improve profitability and increase cash flow[22] - Total employee costs, including directors' remuneration, were approximately HKD 6,400,000 for the year, a decrease of HKD 200,000 compared to the previous year[122] - The company's total rental concessions amounted to 896 thousand HKD in 2024[47] Joint Ventures and Subsidiaries - The joint venture Bingo Group — Memorigin (BGM) Limited, established in February 2023, generated revenue of approximately HKD 2,100,000 and a gross profit of HKD 900,000 by the end of the fiscal year[92] - The company's joint venture with Guangzhou Jiu's Culture Technology Co., Ltd., named Guangzhou Gao Digital Culture Technology Co., Ltd., aims to develop augmented reality live-action role-playing (LARP) games, leveraging the company's experience in film production and IP licensing[130][131] - The company's joint venture partner, Jiu's, has a content library with nearly 300 signed distributors, providing a strong B2B SaaS platform in China[137] - The company's subsidiary, Gao Yi Limited, entered into a joint venture agreement with Memorigin Watch Co., Ltd. and Qin Sheng Limited to establish BGM, with the company holding a 60% stake in the venture[133] - The company's joint venture, Gao Digital Culture Technology Co., Ltd., has not yet started commercial production and therefore has not generated any revenue[132] - The company's subsidiary, Brilliant Insight Limited, has signed an agreement with Hengdian to lease additional screens, with the first trial operation expected to begin in Q3 2024[156] - The company's subsidiary, BGM, launched its first movie-themed tourbillon watch series around April 2023[165] - The company's subsidiary, Billion High Holdings, is collaborating with Wanwei Cat Animation on script creation and production phases for animation projects[166] - The company's wholly-owned subsidiary, Gaosheng Limited, signed a consulting services agreement with Xinhuo Asset Management (Hong Kong) Limited, a subsidiary of Xinhuo Technology Holdings Limited (Stock Code: 1611.HK), to provide intellectual property technology consulting services for a futures investment fund currently in the establishment phase[187] Corporate Governance and Board Responsibilities - The company's audit committee reviewed the group's annual performance for the year ended March 31, 2024, including accounting principles, risk management, internal controls, and financial reporting matters[11] - The company's board of directors confirmed that the information in the announcement is true, complete, and not misleading, with no omissions that would make any statement or the announcement misleading[13] - The company's board of directors is responsible for the accuracy and completeness of the announcement, confirming that the information is true and not misleading[16] - The company's board of directors presented the audited consolidated results for the year ended March 31, 2024, along with comparative figures for the same period in 2023[17] - The board members are responsible for ensuring the company establishes good corporate governance practices and procedures, and will discuss corporate governance matters during meetings to approve interim and annual results[191] - The executive directors are responsible for maintaining effective communication with shareholders and ensuring shareholder opinions are conveyed to the entire board[192] - The executive directors are responsible for promoting an open and proactive discussion culture, encouraging contributions from all directors, and maintaining constructive relationships between executive and non-executive directors[193] - Due to the vacancy in the Chairman position, the board has appointed at least one executive director to attend the annual general meeting, and the executive director should invite the chairs of the audit, remuneration, and nomination committees to attend[194] - As of March 31, 2024, the company does not have a Chairman of the Board or a CEO, and the board is currently seeking suitable candidates to fill these positions[189] Taxation and Government Subsidies - The company's Chinese subsidiaries are subject to a 25% corporate income tax rate[54] - No provision for Chinese corporate income tax was made in 2024 due to no taxable profit[55] - The company's subsidiaries in China were granted a preferential tax rate of 20% due to their small-scale enterprise status[78] - Government subsidies decreased significantly to 0 in 2024, down from 596 thousand HKD in 2023[51] - The company received government subsidies of approximately HKD 600,000 for cinema operations and rental concessions of HKD 900,000 due to COVID-19[96] Market and Liquidity - The company's shares traded on GEM may be subject to greater market volatility and lower liquidity compared to those traded on the Main Board of the Stock Exchange[15] - The company is seeking additional financing sources from major shareholders to improve liquidity and cash flow[37] - The company holds cash and cash equivalents of approximately HKD 13.6 million as of March 31, 2024, sufficient to cover its total current liabilities of HKD 12.8 million[148] New Business Initiatives - The company launched a new business selling movie-themed tourbillon watches during the year[95] - The company's joint venture Bingo Group — Memorigin (BGM) Limited, established in February 2023, is focused on selling movie-themed tourbillon watches through physical stores and e-commerce, with the company holding a 60% stake[133] - The company identified a new market for bullet-screen mini-games in China, with successful apps like "Forest Party" and "Cute Pet Battle" generating monthly sales between RMB 50,000,000 and RMB 100,000,000[184] - The company's animation business partner, Wanwei Renhe, is a well-known animation production company in China, with high click-through rates and ratings on platforms like Bilibili, Douyin, and Tencent Video[167] Financial Reporting and Standards - The company's consolidated financial statements for the year ended March 31, 2024, were reviewed by Cheng & Cheng CPA Limited, but no audit opinion or conclusion was provided as the work did not constitute an audit engagement[12] - The company applied new and revised Hong Kong Financial Reporting Standards effective from April 1, 2023, which did not have a significant impact on the financial statements[24][26] - The company's consolidated financial statements are prepared in accordance with the Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants[198] - The company has retrospectively implemented the guidance issued by the Hong Kong Institute of Certified Public Accountants regarding the accounting impact of the cancellation of the MPF and long service payment offset mechanism[199] Agreements and Contracts - The New Fire Agreement was terminated in January 2024, and the company is in discussions with New Fire Asset Management to extend the agreement, but no extension has been completed as of the announcement date. No revenue was generated from investment funds during the year as they were in the process of being established[7] - The company received a non-refundable deposit of RMB 1,200,000 (approximately HKD 1,300,000) from Wanwei Renhe (Beijing) Technology Co., Ltd. in September 2023 for consulting services[93] - The company has signed a memorandum of understanding with Beijing iQIYI and Zeus, with formal contract terms expected to be finalized before the memorandum expires on September 30, 2024[159] Employee and Staff Information - The company employed 28 staff in China and Hong Kong as of March 31, 2024, down from 52 in the previous year[122] - Total employee costs, including directors' remuneration, were approximately HKD 6,400,000 for the year, a decrease of HKD 200,000 compared to the previous year[122] Future Outlook and Expectations - The company expects the film entertainment, new media development, and licensing business segments to become a major driver of future revenue growth and profit, with significant improvement since April 2024[159] - The board believes that the company's existing business can create synergies with the new business, which will benefit the company in the future[188] Accounts Receivable and Payable - The company's accounts receivable for cinema investment and management business were HKD 141,000 in 2024, compared to HKD 135,000 in 2023[82] - The company's accounts payable for film entertainment, new media development, and licensing business were HKD 208,000 in 2024, compared to HKD 142,000 in 2023[84] - The company's receivable balance for cinema investment and management business included overdue receivables of HKD 15,000 as of March 31, 2024[103] Interest Income and Other Financials - The company's interest income increased to 44 thousand HKD in 2024, compared to 23 thousand HKD in 2023[51] - The company's total interest income across all segments was 23 thousand HKD in 2024[47] - The company's total depreciation of property, plant, and equipment was 8 thousand HKD in 2024[47] - The company's total interest income for the fiscal year ending March 31, 2024, was HK$44,000[66]

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） BINGO GROUP HOLDINGS LIMITED 截至二零二四年三月三十一日止年度之 全年業績公告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM之特色 GEM的 定 位，乃 為 中 小 型 公 司 提 供 一 個 上 市 的 市 場，此 等 公 司 相 比 起 其 他 在 聯 交 所 上 市 的 公 司 帶 有 較 高 投 資 風 險。有 意 投 資 的 人 士 應 了 解 投 資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由 於GEM上 市 公 司 普 遍 為 中 小 型 公 司，在GEM買賣的證券可能會較於 聯 交 所 主 板 買 賣 之 證 券 承 受 較 大 的 市 場 波 動 風 險，同 時 無 法 保 證 在 GEM買 賣 的 證 券 會 有 高 流 通 量 的 市 場。 香 港 交 易 及 結 算 所 有 限 公 司 及 聯 交 所 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 ...

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） 截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM之 特 色 GEM乃 為 較 於 聯 交 所 上 市 之 其 他 公 司 帶 有 更 高 投 資 風 險 之 公 司 提 供 上 市之市場。有意投資者應瞭解投資於該等公司之潛在風險，並應經過審 慎 周 詳 之 考 慮 後 方 作 出 投 資 決 定。基 於GEM之 較 高 風 險 及 其 他 特 色， GEM較適合專業及其他經驗豐富之投資者。 由 於GEM上 市 公 司 普 遍 為 中 小 型 公 司，在GEM買 賣 的 證 券 可 能 會 較 於 聯 交 所 主 板 買 賣 之 證 券 承 受 較 大 的 市 場 波 動 風 險，同 時 無 法 保 證 在 GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所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 ...

BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立之有限公 司 ) (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立之有限公 Stock Code 股份代號: 8220 Stock Code 股份代號: 8220 2023/24 中 期 業 績 報 告 司 ) CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate companies to which a higher investment risk may be attached ...

BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立之有限公 司 ) (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立之有限公 Stock Code 股份代號: 8220 Stock Code 股份代號: 8220 2023/24 司 ) CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be ...

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） 截 至 二 零 二 三 年 六 月 三 十 日 止 三 個 月 之 第 一 季 業 績 公 告 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM之 特 色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其 他 在 聯 交 所 上 市 的 公 司 帶 有 較 高 投 資 風 險。有 意 投 資 的 人 士 應 了 解 投 資於該等公司的潛在風險，並應經過審慎周詳的考慮後方作出投資決定。 由 於GEM上 市 公 司 普 遍 為 中 小 型 公 司，在GEM買 賣 的 證 券 可 能 會 較 於 聯 交 所 主 板 買 賣 之 證 券 承 受 較 大 的 市 場 波 動 風 險，同 時 無 法 保 證 在 GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所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 或任何部分內容所產生或因依賴該等內容而引致之任何損失承擔任何 責 ...

BINGO GROUP HOLDINGS LIMITED 比高集團控股有限公司 (Incorporated in the Cayman Islands with limited liability) ( 於開曼群島註冊成立之有限公 司 ) Stock Code 股份代號: 8220 ANNUAL REPORT 年 報 2022/23 CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE "STOCK EXCHANGE") GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of ...