[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 ...

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 董 事 會謹 此 宣 佈 ， 由於 行 政 原 因， 股 東 特 別 大會 將 由 二 零 二五 年 五 月 三十 日（ 星期五 ）推遲至二零二五年六月六日（ 星期五 ）上午十一時三十分於同一 會場，即香港中 環都爹利街11號 律敦治中心律敦治大廈10樓舉行。該通告 所 載 將於 股 東 特 別 大會 提 呈 的 所有 決 議 案 將 維持 不 變 ， 而 所有 該 等 決 議案 將於經改期的股東特別大會提呈。 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） 押後股東特別大會 押後股東特別大會 已 於 二零 二 五 年 五 月九 日 寄 發 予股 ...

Group 1 - The Hang Seng Index fell by 1.35% to close at 23,282.33 points on May 26 [1] - Big High Group (08220.HK) closed at HKD 3.59 per share, up 12.89%, with a trading volume of 425,000 shares and a turnover of HKD 1.45 million, showing a volatility of 16.04% [1] Group 2 - Over the past month, Big High Group has experienced a cumulative decline of 2.15%, while year-to-date it has seen a cumulative increase of 2.25%, underperforming the Hang Seng Index by 17.65% [2] - As of September 30, 2024, Big High Group reported total revenue of HKD 4.08 million, a year-on-year decrease of 16%; net profit attributable to shareholders was -HKD 10.38 million, a year-on-year decrease of 110.65%; gross margin stood at 61.86%, and the debt-to-asset ratio was 129.44% [2] Group 3 - Currently, there are no institutional investment ratings for Big High Group [3] - The media and entertainment industry has an average price-to-earnings (P/E) ratio (TTM) of -5.28 times, with a median of -1.13 times; Big High Group's P/E ratio is -17.34 times, ranking 56th in the industry [3] - Big High Group is primarily engaged in film production, licensing and derivative rights, cross-market promotion, interactive content provision, and cinema investment and management [3]

Group 1 - The Hong Kong film and television stocks are performing strongly, with Alibaba Pictures (01060.HK) rising over 5% [1] - Bigo Group (08220.HK) has increased by more than 2% [1] - Other companies such as Maoyan Entertainment (01896.HK) and Ningmeng Pictures (09857.HK) also saw gains [1]

Group 1 - Several film stocks continue to rise, with Alibaba Pictures increasing by 3.90% [1] - Bigo Group saw a rise of 2.20% [1] - Maoyan Entertainment experienced a growth of 1.25% [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） 須予披露交易 訂立投資協議 於二零二五年五月二十日，投資者輝馳（ 上海 ）投資諮詢有限公司（ 一間於 中國成立的公司，為本公司的間接全資附屬公司 ）與愷興網絡、管理層股 東 及 目 標 公 司 訂 立 投 資 協 議 ， 據 此 ， 投 資 者 已 有 條 件 同 意 向 目 標 公 司 注 資人民幣7,000,000元（ 相當於約7,490,000港元 ）。於完成後，目標公司將由 愷興網絡、管理層股東、投資者及其他股東分別擁有43%、25%、12%及 20% 權 益 ， 據 董 事 作 出 一 切 ...