Financial Performance - The company reported a revenue of HK$6.9 million for the year, primarily generated from its filmed entertainment and new media development business[21]. - The Group recorded a total turnover of approximately HK$6.9 million for the year, a decrease of approximately 69.9% compared to HK$22.9 million in the previous year[48]. - Gross profit declined from approximately HK$13.5 million last year to approximately HK$3.9 million this year, a decrease of approximately HK$9.6 million[48]. - The net loss of the Group decreased significantly from approximately HK$54.9 million last year to approximately HK$24.9 million this year, despite the substantial revenue decline[51]. - As of March 31, 2021, the Group's total assets were approximately HK$43.9 million, down from HK$82.3 million in 2020, with cash and cash equivalents of approximately HK$15.3 million[53]. - The debt ratio as of March 31, 2021, was approximately 0.80, compared to 0.62 in 2020, indicating an increase in leverage despite a decrease in total assets[53]. - Total staff costs, including directors' remuneration, were approximately HK$10.7 million during the year, down from HK$14.9 million in 2020, with a reduction in staff from 78 to 65[54]. - The Group did not have any pledged bank deposits or bank overdrafts as of March 31, 2021, maintaining a stable financial position[53]. - There were no significant contingent liabilities or capital commitments as of March 31, 2021, indicating a conservative financial strategy[57][58]. Corporate Governance - The board of directors collectively accepts full responsibility for the accuracy and completeness of the information provided in the report[3]. - The Company emphasizes high standards of corporate governance to effectively monitor business activities and protect shareholder interests[111]. - The Company has complied with the mandatory provisions of the Corporate Governance Code, with some deviations noted in specific sections[112]. - The Board is responsible for directing and supervising the Company's business, with day-to-day management delegated to executive Directors and senior management[111]. - The Company has a diverse Board composition, which is crucial for promoting its success and overseeing major transactions[111]. - The Company has maintained a focus on legal and compliance matters, with experienced professionals in key positions[95]. - The Company has a structured approach to decision-making, requiring Board approval for significant transactions[111]. - The Company has a history of strong corporate governance practices, which it continues to uphold[112]. - The Company is committed to transparency and accountability in its operations and governance practices[112]. - The Board consists of ten Directors, including six executive Directors and three independent non-executive Directors, ensuring a balanced structure for effective oversight[117]. - Independent non-executive Directors have confirmed their independence in accordance with GEM Listing Rules, ensuring governance integrity[117]. - The Company has established a Remuneration Committee comprising all independent non-executive Directors and one executive Director, with responsibilities including reviewing and approving management's remuneration proposals[179]. - The Nomination Committee is responsible for reviewing the structure, size, and composition of the Board, and making recommendations for the appointment or reappointment of Directors[184]. - The Company has a corporate governance function carried out by the Board, which includes developing and reviewing policies and practices on corporate governance[170]. - The Company is committed to compliance with legal and regulatory requirements as part of its corporate governance practices[170]. Business Strategy and Development - The company aims to expand its market presence through new media and entertainment ventures[19]. - The Group is exploring investment opportunities in the virtual reality and mixed reality sectors, recognizing growth potential in these areas[75]. - The Group is focusing on identifying new business opportunities with significant potential, including consultancy services, online game development, and investments in the Chinese cultural industry[79]. - The Group believes that its existing businesses can create synergistic effects with the new ventures, benefiting future growth[81]. - The Group's strategic focus includes enhancing its online presence and expanding into new markets through innovative business models[79]. - The Group has entered into a joint venture with Lechuang Holdings to develop VR and MR projects, granting a loan of RMB 16 million (approximately HK$ 18.9 million) to the joint venture in September 2019[81]. - The Group aims to leverage its experience in interactive content provision alongside Lechuang's expertise in VR and MR development[81]. Operational Challenges - The Group's cinemas in Shanghai and Hangzhou reopened in August 2020, but generated minimal turnover during the year due to COVID-19 restrictions[48]. - The Group's cinema in Linan was closed in September 2020 due to unresolved business plans with the shopping mall owner[48]. - The COVID-19 pandemic has resulted in nearly 4 million deaths and over 180 million infections globally, impacting the economy in China to some extent[78]. - The cinemas in China were allowed to reopen in late July 2020 after being closed since early 2020 due to the pandemic, indicating a gradual recovery in the market[11]. Management and Board Activities - All Directors participated in continuous professional development activities during the year, enhancing their knowledge and skills relevant to the Company's business[119]. - The Company encourages Directors to attend external forums or training courses to support their continuous professional development[119]. - The attendance record for Board and Committee Meetings shows that Ms. CHOW Man Ki Kelly attended 12 out of 12 Board Meetings, indicating strong engagement[124]. - The Company Secretary, Mr. CHAN Ka Yin, undertook over 15 hours of professional training during the year to update his skills and knowledge[172]. - The Board has reviewed and discussed the corporate governance policy of the Group and is satisfied with its effectiveness[170]. - The Board practices good corporate governance by ensuring timely discussions on appropriate issues[140]. - The Board is currently seeking suitable candidates for the positions of Chairman and Chief Executive Officer, with existing members sharing responsibilities in the interim[135]. - The roles of Chairman and Chief Executive Officer should be separate, as per Code A.2.1, ensuring clear delineation of responsibilities[136].

Financial Performance - During the nine months ended December 31, 2020, Bingo Group Holdings Limited generated revenue of HK$3.5 million and gross profit of HK$2.0 million from its Cinema Business, a decline from HK$22.1 million and HK$13.0 million in the corresponding period of 2019[21]. - The total turnover for the Group was approximately HK$3.8 million, representing a decrease of approximately HK$18.3 million compared to HK$22.1 million in the corresponding period[31]. - The Group recorded a loss of approximately HK$18.6 million for the period, which is a decrease of approximately HK$14.5 million compared to a loss of HK$33.1 million in the corresponding period[31]. - For the three months ended December 31, 2020, the Group reported a turnover of HK$2,536,000, a decrease from HK$6,619,000 in the same period of 2019, representing a decline of approximately 61.7%[44]. - The gross profit for the same period was HK$1,305,000, down from HK$3,941,000 in 2019, indicating a decrease of about 66.9%[44]. - The total comprehensive loss for the period was HK$34,733,000 for the nine months ended December 31, 2020[113]. - The total loss for the nine months ended December 31, 2020, was HK$18,570,000, compared to HK$33,260,000 in the same period of 2019, indicating a reduction of approximately 44.3%[44]. - The loss attributable to owners of the Company for the period was HK$2,303,000, a significant reduction from HK$13,950,000 in the same quarter of 2019, reflecting a decrease of about 83.5%[44]. Impact of COVID-19 - The COVID-19 pandemic significantly impacted cinema operations, with cinemas in Hangzhou and Shanghai closed since late January 2020, reopening in August 2020 in low-risk areas[21]. - The cinema business in China faced significant disruptions due to the COVID-19 pandemic, with cinemas ordered to close since early 2020[35]. - The overall performance in the Cinema Business reflects the ongoing challenges posed by the pandemic, impacting revenue and profit margins[21]. - Future outlook remains cautious as the Group navigates the recovery phase post-COVID-19[21]. Business Strategy and Operations - The Group continues to focus on Filmed Entertainment, New Media Exploitations, Licensing Businesses, and Cinema Business as its primary operations[19]. - The Group's strategy includes a gradual normalization of cinema operations following the reopening of cinemas in certain areas[21]. - The Group is committed to exploring new opportunities in film production and interactive content to enhance its market position[19]. - The Group continues to explore investment opportunities in the Chinese cinema sector and online gaming, aiming to leverage potential growth in these areas[39]. - The establishment of a joint venture in Huzhou, Zhejiang Province, focuses on brand and intellectual property management, influencer incubation, and e-commerce, which is currently in a trial operation phase[39]. Joint Ventures and Investments - Bingo Family, a joint venture established in November 2020, generated approximately HK$0.3 million in revenue during its trial period[25]. - The Group has entered into a loan agreement with the joint venture company for an investment of between HK$25 million and HK$35 million for VR and MR projects[26]. - The Group is optimistic about the growth potential in the VR and MR industry and aims to leverage its experience in interactive content provision[38]. - The Group granted a loan of RMB16 million (approximately HK$18.2 million) to the joint venture company in September 2019 for the development of VR and MR projects[38]. Share Options and Awards - The company granted a total of 40,250,000 share options in 2015, with the exercise price at HK$0.940, and the fair value at the time of grant was HK$16,800,000[60]. - The number of share options granted in 2016 was 85,500,000, with an exercise price of HK$0.720 and a fair value of HK$26,600,000[60]. - The company has a share option scheme that includes options with various grant dates, with the latest being July 14, 2020, for 25,500,000 options at an exercise price of HK$0.074[60]. - The Share Award Scheme allows for a maximum of 10% of the issued shares (85,538,466 shares) to be purchased by the trustee[132]. - The maximum number of shares that can be awarded to any selected employee under the Share Award Scheme is limited to 1% of the issued share capital as of the Adoption Date[132]. - The Share Award Scheme was adopted on 14 August 2019 and is valid for ten years, aimed at recognizing and rewarding contributions to the Group[168]. Compliance and Governance - The unaudited consolidated results have been prepared in accordance with Hong Kong Financial Reporting Standards and comply with GEM Listing Rules[49]. - The third quarterly results have been reviewed by the audit committee of the Company[49]. - All Directors complied with the required standard of dealings regarding securities transactions throughout the nine months ended December 31, 2020[193]. - The audit committee reviewed the Group's unaudited results for the nine months ended December 31, 2020, ensuring compliance with applicable accounting standards and GEM Listing Rules[183].

Revenue and Profitability - During the six months ended 30 September 2020, Bingo Group Holdings Limited generated revenue of HK$1.3 million from its Cinema Business, a decline from HK$15.5 million in the corresponding period of 2019[21] - The gross profit from the Cinema Business for the Period was HK$0.7 million, down from HK$9 million in the same period last year[21] - The Group recorded total turnover of approximately HK$1.2 million, a decrease of approximately HK$14.3 million compared to HK$15.5 million in the corresponding period[28] - Revenue and gross profit from cinema operations were approximately HK$1.3 million and HK$0.7 million, respectively, showing a decline compared to HK$15.5 million and HK$9 million in the same period last year[28] - For the six months ended September 30, 2020, the Group reported a turnover of HK$1,264,000, a decrease of 92.8% compared to HK$15,467,000 for the same period in 2019[54] - The gross profit for the six months ended September 30, 2020, was HK$680,000, down 92.5% from HK$9,045,000 in the previous year[54] - The loss for the period was approximately HK$15.8 million, an increase of approximately HK$3.3 million from the loss of HK$12.5 million in the corresponding period[30] - The loss for the period was HK$15,838,000, compared to a loss of HK$12,512,000 for the same period in 2019, representing a 26.3% increase in losses[54] - The total comprehensive loss for the period amounted to HK$9,015,000, up from HK$8,013,000 in the prior year, indicating a year-over-year increase of 12.5%[55] - The total comprehensive loss for the period ended September 30, 2020, was HK$17,330,000, compared to HK$14,204,000 in the previous year, indicating a worsening financial performance[66] Impact of COVID-19 - The outbreak of COVID-19 led to the closure of cinemas in Hangzhou and Shanghai since late January 2020, impacting revenue generation significantly[21] - Cinemas in certain low-risk areas of the PRC were allowed to reopen in July 2020, with the Group's cinemas in Shanghai and Hangzhou reopening in August 2020[21] - The coronavirus outbreak has significantly impacted the cinema industry, with many cinemas in China only reopening in late July 2020[42] Assets and Liabilities - As of 30 September 2020, the Group's total assets were approximately HK$50.9 million, down from HK$82.3 million as of 31 March 2020[35] - Cash and cash equivalents amounted to approximately HK$21.2 million as of 30 September 2020, compared to HK$38.1 million as of 31 March 2020[35] - The debt ratio was approximately 0.66 as of 30 September 2020, compared to approximately 0.62 as of 31 March 2020[35] - Net current assets decreased to HK$13,010,000 as of September 30, 2020, down from HK$21,215,000 as of March 31, 2020, reflecting a decline of 38.7%[63] - Total assets less current liabilities were HK$36,796,000, down from HK$57,624,000, indicating a reduction of 36.2%[63] - Non-current liabilities, including convertible bonds and lease liabilities, totaled HK$19,466,000, compared to HK$26,030,000 in the previous period, a decrease of 25.2%[63] - The company reported a total equity of HK$17,330,000 as of September 30, 2020, down from HK$31,594,000, a decline of 45%[63] Cash Flow - For the six months ended September 30, 2020, the net cash used in operating activities was HK$6,005,000, compared to HK$13,621,000 in the same period of 2019, indicating an improvement[68] - The net cash generated from investing activities for the same period was HK$2,201,000, a significant decrease from HK$14,470,000 in 2019[68] - The net cash used in financing activities increased to HK$11,900,000 in 2020 from HK$2,048,000 in 2019, reflecting higher financing costs[68] - As of September 30, 2020, cash and cash equivalents decreased to HK$21,189,000 from HK$61,023,000 at the end of the same period in 2019[68] - The company experienced a net decrease in cash and cash equivalents of HK$15,704,000 for the six months ended September 30, 2020, compared to a decrease of HK$1,199,000 in 2019[68] Staff and Employee Costs - Total staff costs, including directors' remuneration, were approximately HK$5.4 million during the period, down from approximately HK$6.9 million in the corresponding period[38] - The Group employed 76 staff as of September 30, 2020, a slight decrease from 78 staff as of March 31, 2020[40] - Employee costs totaled approximately HK$5,400,000 for the period, down 21.0% from HK$6,900,000 in the previous year[40] - Key management personnel remuneration for the six months ended September 30, 2020, was HK$943,000, an increase from HK$500,000 in the same period of 2019[176] Business Operations and Future Plans - The Group continues to focus on Filmed Entertainment, New Media Exploitations, Licensing Businesses, and Cinema Business[19] - The management is actively seeking suitable business opportunities in the Filmed Entertainment sector[22] - The Group plans to focus on new business opportunities, including consultancy services and online game development, in addition to its existing cinema investments[46] - The Group has entered into a joint venture agreement in November 2020 to establish a company focused on brand management and film-related products in Huzhou City, Zhejiang Province[47] - The joint venture company will be 51% owned by the WOFE Subsidiary and will focus on brand management, film and television product development, and e-commerce[187] Share Options and Awards - The number of share options granted in 2020 was 25,500,000, a decrease of 43.8% compared to 45,000,000 in 2019[96] - The fair value of share options granted in 2020 was HK$892,500, significantly lower than HK$2,181,000 in 2019, indicating a decline in perceived value[96] - Share-based payments recognized for directors amounted to HK$556,000, while employees received HK$432,000, and advisors received HK$578,000, totaling HK$1,566,000 for the six months ended September 30, 2020[114] - The total number of awarded shares for employees was 12,780,000, with 50% vesting on the first anniversary and the remaining 50% on the second anniversary of the grant date[105] - The company adopted a share award scheme on August 14, 2019, with awards granted up to September 30, 2020, indicating a strategic move to incentivize key personnel[107] Losses and Impairments - The Group recorded a loss on the termination of a cinema operation of approximately HK$3,456,000 during the six months ended September 30, 2020[135] - The Group terminated the operation of a cinema in Hangzhou, resulting in a loss of approximately HK$3,456,000, which includes impairment losses of HK$369,000 on receivables and HK$7,144,000 on right-of-use assets[137] - Impairment of right-of-use assets for the six months ended September 30, 2020, was HK$7,144,000[91] Government Grants and Taxation - The group received government grants totaling HK$596,000 for the six months ended September 30, 2020, compared to HK$536,000 in the same period of 2019[76] - The Group did not derive any assessable profits in Hong Kong for the six months ended September 30, 2020, and thus no provision for Hong Kong Profits Tax was made[126] - The PRC subsidiaries are subject to a 25% Enterprise Income Tax for the six months ended September 30, 2020, and 2019[124]

Financial Performance - During the three months ended June 30, 2020, Bingo Group Holdings Limited generated no turnover due to the COVID-19 outbreak, which led to the closure of cinemas in Hangzhou and Shanghai since late January 2020[17]. - The Group reported a loss of approximately HK$6.9 million for the period, an increase of approximately HK$1.5 million compared to a loss of HK$5.4 million in the corresponding period[24]. - The increase in loss was mainly due to the suspension of cinema businesses caused by the COVID-19 outbreak[24]. - The loss attributable to owners of the Company for the period was HK$6.4 million, compared to HK$4.97 million in the previous year[36]. - The basic and diluted loss per share for the period was HK$0.75, compared to HK$0.58 in the corresponding period[36]. - The company reported a loss for the period of HK$6,939,000 for the three months ended June 30, 2020, compared to a loss of HK$5,372,000 in the same period of 2019, representing an increase in loss of approximately 29%[38]. - Total comprehensive loss for the period amounted to HK$6,981,000, up from HK$6,191,000 in 2019, indicating a year-over-year increase of about 13%[38]. - The loss for the period attributable to owners of the Company was HK$6,401,000 for the three months ended June 30, 2020, compared to HK$4,968,000 for the same period in 2019, representing a year-over-year increase of 28.56%[65]. Revenue Generation - The Cinema Business was previously the prime revenue generator, with approximately HK$7.2 million in revenue and HK$4.2 million in gross profit during the same period in 2019[17]. - No revenue was generated in the Filmed Entertainment Business segment during the period as no suitable business opportunities were identified[18]. - Revenue from cinema business was HK$0 for the three months ended June 30, 2020, a significant decline from HK$7,232,000 in the same period of 2019, reflecting a 100% decrease[45]. - Interest income decreased to HK$106,000 in Q1 2020 from HK$276,000 in Q1 2019, a decline of approximately 62%[47]. - Other income increased to HK$26,519,000 in Q1 2020 from HK$12,288,000 in Q1 2019, representing a growth of approximately 116%[47]. Business Operations - The Group continues to focus on Filmed Entertainment, New Media Exploitations, Licensing Businesses, and Cinema Business[15]. - The ongoing development of the Cinema Business has been a key focus for the Group, which has been impacted by external factors such as the pandemic[16]. - The Group's cinemas in Shanghai and Hangzhou reopened in August 2020, following negotiations regarding business plans for the Linan cinema[17]. - The Group is in discussions regarding the reopening of its Linan cinema, but the date remains unconfirmed as of the report date[17]. - The Group's management is actively seeking suitable business opportunities in the Filmed Entertainment sector[18]. - The Group plans to explore other business opportunities, including consultancy services and online game development, in addition to its existing cinema business[29]. Financial Strategies and Investments - The Group has entered into a joint venture agreement with Lechuang Holdings, with Bingo Movie holding 49% and Lechuang holding 51% of the JV Company[23]. - Bingo Movie has advanced loans totaling RMB45 million (approximately HK$51.3 million) to the JV Company for investment in VR and MR projects[23]. - As of the report date, no suitable VR or MR projects have been identified[23]. - The VR and MR industry is experiencing rapid development, and the Group sees growth potential in this sector[30]. - The total finance costs for the three months ended June 30, 2020, were HK$861,000, down from HK$1,554,000 in 2019, representing a decrease of approximately 44.7%[51]. Shareholder Information - As of June 30, 2020, the total issued share capital of the company was 855,384,669 shares[86]. - The company’s directors held a total of 27,573,529 shares, representing approximately 3.22% of the issued share capital[86]. - The company’s major shareholders, including Mr. Chiau Sing Chi and Ms. Chow Man Ki Kelly, held 402,121,240 shares each, accounting for 47.01% of the issued share capital[86]. - The number of options granted to directors remained unchanged during the reporting period, indicating stability in executive compensation[91]. - The total options held by directors as of April 1, 2020, was 31,500,000, indicating a significant number of options available for future exercise[91]. Impact of COVID-19 - The impact of COVID-19 has significantly affected the Group's revenue generation capabilities during the reporting period[17]. - The company closed all cinemas in China starting January 2020 due to mandatory quarantine measures, significantly impacting operations[78]. - The directors noted that the financial effects of COVID-19 on the consolidated financial statements could not be reasonably estimated, but a material impact is expected for the year ending March 31, 2021[79]. - By June 30, 2020, the total comprehensive loss increased to approximately $6,981 million, reflecting ongoing challenges due to the COVID-19 pandemic[75]. - The company reported a significant impairment risk for assets due to the pandemic, affecting goodwill, property, plant, and equipment[79].

Financial Performance - For the year ended March 31, 2020, Bingo Group Holdings Limited generated revenue of HK$22.9 million, a decline from HK$38.0 million in the previous year, primarily due to the COVID-19 outbreak[13]. - The gross profit for the year was HK$13.5 million, down from HK$22.4 million in the prior year, reflecting the impact of cinema closures during the peak season[13]. - The Group recorded a total turnover of approximately HK$22.9 million for the year, representing a decrease of approximately 39.8% compared to HK$38.0 million in the previous year[24]. - The cinema business generated revenue of HK$22.9 million, down from HK$38.0 million in the previous year, primarily due to the impact of COVID-19[24]. - The net loss increased significantly from approximately HK$26.5 million in the previous year to approximately HK$54.8 million for the year, driven by decreased revenue and impairment losses[26]. - Impairment losses on fixed assets and lease assets totaled approximately HK$11.6 million, which were one-off in nature[25]. - As of March 31, 2020, the Group's total assets were approximately HK$82.3 million, down from HK$115.3 million in the previous year[27]. - The Group's cash and cash equivalents amounted to approximately HK$38.1 million, compared to HK$60.9 million in the previous year[27]. - The debt ratio increased to approximately 0.62 as of March 31, 2020, from 0.32 in the previous year[29]. Business Operations - All cinemas in Hangzhou and Shanghai were closed since late January 2020, affecting revenue generation during the traditional peak season of Chinese New Year[13]. - No revenue was generated in the Filmed Entertainment, New Media Exploitations, and Licensing Businesses segment during the year, as no suitable business opportunities were identified[14]. - The Cinema Business has become the prime revenue generator for the Group during the year, despite the significant decline in performance due to external factors[12]. - The Group's cinemas are exclusively located in Hangzhou and Shanghai, with no confirmed schedule for reopening as of the report date[13]. - The ongoing focus remains on movie production, licensing, and interactive content provision, despite the challenges faced in the Cinema Business[12]. - The Group continues to seek suitable business opportunities in the entertainment sector, although no appropriate targets were found during the year[14]. - The financial performance reflects the broader impact of the pandemic on the entertainment industry, particularly in cinema operations[13]. - The Group's strategic direction includes a commitment to adapt to market conditions and explore new avenues for revenue generation[12]. - The Group plans to focus on identifying new business opportunities, including consultancy services and online game development, despite the challenges posed by the COVID-19 pandemic[43]. Employee and Corporate Governance - The Group had 78 employees as of March 31, 2020, down from 115 in the previous year, with total staff costs of approximately HK$14.9 million[36]. - The Group employed 78 staff in China and Hong Kong, a decrease from 115 in 2019, with total employee costs amounting to approximately HK$14.9 million, down from HK$17.0 million in 2019[38]. - The Group's employee benefits include contributions to a statutory mandatory provident fund scheme, reflecting its commitment to employee welfare[38]. - The Company is committed to high standards of corporate governance, ensuring effective monitoring of business activities to protect shareholder interests[64]. - The Board of Directors is responsible for major decision-making and must approve significant transactions, delegating day-to-day management to executive directors and senior management[67]. - The Company has complied with the Corporate Governance Code, with no reported non-compliance in securities transactions by directors[65][66]. - The Company has appointed independent non-executive directors to ensure diverse perspectives in governance[57][60]. - The Company has established a Remuneration Committee comprising all independent non-executive Directors and one executive Director, responsible for making recommendations on remuneration policies[125]. - The primary goal of the executive remuneration packages is to motivate executive Directors and senior management by linking their remuneration to the Group's operational results[128]. Risk Management and Internal Controls - The Company has implemented a phased improvement plan to enhance its internal controls and risk management system, focusing on a risk-based approach[162]. - The internal controls model is based on the COSO framework, which includes five components: Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring[161]. - The Board is responsible for overseeing the risk management system and internal controls, setting strategic objectives, and monitoring risk exposure[167]. - Management is tasked with designing, implementing, and monitoring risk management and internal control systems across the Company[167]. - The Company aims to further integrate internal controls and risk management into its business processes, including annual budgeting and planning[163]. - The internal audit functions are performed independently to assess the adequacy and effectiveness of the Group's risk management systems[169]. - The Company has engaged independent professional advisors to conduct an annual review of its risk management and internal control systems, which were deemed effective and adequate[169]. - No significant areas of concern affecting financial, operational, compliance controls, and risk management functions were identified during the review[169]. Transparency and Communication - The Company emphasizes the importance of transparency and maintains open communication with shareholders through various reports and its website[179]. - The Board is committed to timely disclosure of corporate information to enhance investor relations[179]. - The Company has established procedures for shareholders to direct inquiries to the Board, ensuring effective communication[178]. - The Company has a policy for the nomination of Directors, ensuring a structured approach to Board composition[132]. - The Company has established an Audit Committee to review financial reporting, risk management, and internal control systems[143]. Future Outlook - The Group is optimistic about the growth potential in the VR and MR industry, having granted a loan of RMB16.0 million (approximately HK$17.5 million) to a joint venture company in September 2019[45]. - The Group's existing businesses are expected to create synergistic effects with new ventures, benefiting future operations[47]. - The Company’s business review indicates a fair assessment of its operations and potential future developments[189].

比高集團控股有限公司 股份代號 :822 0 ( 於開曼群島註冊成立之有限公司 ) 2019/20 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上市公司之新興性質使然，在GEM買賣之證券可能會承受較於主板買賣之證券為高 之市場波動風險，同時亦不保證在GEM買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，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報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任。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定提供有關比高集團控股有限 公司（「本公司」）之資料。本公司各董事（「董事」）共同及個別對本報告承擔全部責任。各董事於 作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大方面均為準確及完 整，且並無誤導或欺詐成分；而本 ...

[Management Discussion and Analysis](index=5&type=section&id=管理層討論及分析) [Business Overview and Operations Review](index=5&type=section&id=經營回顧) The Group's core businesses include film entertainment, new media development, and cinema investment and management, with cinema operations being the primary revenue source, though both revenue and gross profit declined this period. - The Group's core businesses are divided into two segments: film entertainment, new media development and licensing, and cinema operations[15](index=15&type=chunk) - The film entertainment business segment generated no revenue this period due to a lack of suitable business opportunities[16](index=16&type=chunk) - The Group, through its subsidiary Bingo Film, established a joint venture with Le Chuang focusing on virtual reality (VR) and mixed reality (MR) projects, providing it with a new loan[17](index=17&type=chunk) Cinema Business Performance (For the six months ended September 30) | Indicator | This Period (2019) | Last Period (2018) | Change | | :--- | :--- | :--- | :--- | | Revenue | HKD 15.5 million | HKD 20.3 million | -23.6% | | Gross Profit | HKD 9 million | HKD 11.9 million | -24.4% | [Financial Review](index=6&type=section&id=財務回顧) The Group's total turnover for the period was approximately HKD 15.5 million, a 23.7% year-on-year decrease, yet the loss for the period narrowed from HKD 14.1 million to HKD 12.5 million due to stringent cost control. - The reduction in loss was primarily due to the implementation of stringent cost control measures[19](index=19&type=chunk) Financial Performance Summary (For the six months ended September 30) | Indicator | This Period (2019) | Last Period (2018) | Change | | :--- | :--- | :--- | :--- | | Total Turnover | HKD 15.5 million | HKD 20.3 million | -23.7% | | Loss for the Period | HKD 12.5 million | HKD 14.1 million | -11.3% | [Liquidity and Capital Structure](index=6&type=section&id=流動資金、財政資源及資本結構) As of September 30, 2019, the Group's total assets were approximately HKD 122 million, with cash and cash equivalents of about HKD 61 million, indicating a sound financial position and sufficient resources to meet working capital needs, with a debt-to-asset ratio of 0.48. - The Board believes the Group's robust cash position is sufficient to meet its working capital requirements[20](index=20&type=chunk) Assets and Liabilities Position | Indicator | September 30, 2019 | March 31, 2019 | | :--- | :--- | :--- | | Total Assets | HKD 122 million | HKD 115.3 million | | Cash and Cash Equivalents | HKD 61 million | HKD 60.9 million | | Debt-to-Asset Ratio | 0.48 | 0.32 | [Business Outlook](index=8&type=section&id=展望) The Group plans to pursue cinema and film investment opportunities in China, explore new ventures like consulting, online gaming, and cultural industry investments, and is optimistic about its VR/MR joint venture with Le Chuang, expecting synergistic benefits. - The Group will continue to focus on potential business opportunities in China's cinema investment, online gaming, and cultural industries[26](index=26&type=chunk) - The Group is optimistic about the growth potential of the virtual reality (VR) and mixed reality (MR) industries, having strategically invested through a joint venture and provided it with a **RMB 16 million** loan[26](index=26&type=chunk) [Condensed Consolidated Financial Statements](index=9&type=section&id=簡明綜合財務報表) [Condensed Consolidated Statement of Profit or Loss](index=9&type=section&id=簡明綜合損益表) For the six months ended September 30, 2019, the Group's turnover was HKD 15.47 million, a 23.7% year-on-year decrease, with gross profit at HKD 9.05 million, down 23.8%, and the loss for the period narrowed to HKD 12.51 million from HKD 14.07 million, resulting in a basic loss per share of HKD 1.42 cents. Consolidated Statement of Profit or Loss Summary (For the six months ended September 30) | Indicator | 2019 (Unaudited) | 2018 (Unaudited) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | Turnover | HKD 15,467 thousand | HKD 20,284 thousand | -23.7% | | Gross Profit | HKD 9,045 thousand | HKD 11,867 thousand | -23.8% | | Loss Before Tax | (HKD 12,381) thousand | (HKD 13,489) thousand | -8.2% | | Loss for the Period | (HKD 12,512) thousand | (HKD 14,070) thousand | -11.1% | | Loss Attributable to Owners of the Company | (HKD 12,141) thousand | (HKD 13,587) thousand | -10.6% | | Basic and Diluted Loss Per Share | (HKD 1.42) cents | (HKD 1.59) cents | - | [Condensed Consolidated Statement of Financial Position](index=11&type=section&id=簡明綜合財務狀況報表) As of September 30, 2019, the Group's total assets were HKD 122 million, total liabilities HKD 58.17 million, and net assets HKD 63.85 million, with non-current assets significantly increasing due to the recognition of right-of-use assets under HKFRS 16, while cash and cash equivalents remained stable at approximately HKD 61.02 million. Consolidated Statement of Financial Position Summary | Indicator | September 30, 2019 (Unaudited) | March 31, 2019 (Audited) | | :--- | :--- | :--- | | Non-current Assets | HKD 45,089 thousand | HKD 11,204 thousand | | Current Assets | HKD 76,934 thousand | HKD 104,047 thousand | | **Total Assets** | **HKD 122,023 thousand** | **HKD 115,251 thousand** | | Current Liabilities | HKD 17,015 thousand | HKD 12,698 thousand | | Non-current Liabilities | HKD 41,154 thousand | HKD 24,618 thousand | | **Total Liabilities** | **HKD 58,169 thousand** | **HKD 37,316 thousand** | | **Net Assets** | **HKD 63,854 thousand** | **HKD 77,935 thousand** | | Cash and Cash Equivalents | HKD 61,023 thousand | HKD 60,926 thousand | [Condensed Consolidated Statement of Cash Flows](index=14&type=section&id=簡明綜合現金流量表) For the six months ended September 30, 2019, the Group reported a net cash outflow from operating activities of HKD 13.62 million, contrasting with a net inflow in the prior period, while investing activities generated a net cash inflow of HKD 14.47 million, primarily due to changes in loans to an associate, with period-end cash and cash equivalents at HKD 61.02 million, a slight decrease from the beginning of the period. Consolidated Statement of Cash Flows Summary (For the six months ended September 30) | Indicator | 2019 (Unaudited) | 2018 (Unaudited) | | :--- | :--- | :--- | | Net Cash From/(Used In) Operating Activities | (HKD 13,621) thousand | HKD 6,735 thousand | | Net Cash From/(Used In) Investing Activities | HKD 14,470 thousand | (HKD 33,058) thousand | | Net Cash Used In Financing Activities | (HKD 2,048) thousand | – | | Net Decrease in Cash and Cash Equivalents | (HKD 1,199) thousand | (HKD 26,323) thousand | | Cash and Cash Equivalents at Beginning of Period | HKD 60,926 thousand | HKD 95,995 thousand | | **Cash and Cash Equivalents at End of Period** | **HKD 61,023 thousand** | **HKD 67,053 thousand** | [Notes to the Interim Financial Statements](index=15&type=section&id=中期財務報表附註) [Basis of Preparation and Changes in Accounting Policies](index=15&type=section&id=1.%20編製基準) These financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, with HKFRS 16 "Leases" first applied this period using the modified retrospective approach, impacting the opening balance sheet by recognizing HKD 17.73 million in right-of-use assets and corresponding lease liabilities, and increasing the loss for the period by HKD 0.712 million. - HKFRS 16 "Leases" was first applied this period, adopting the modified retrospective approach without restating comparative information[49](index=49&type=chunk)[50](index=50&type=chunk) Impact of Adopting HKFRS 16 on Financial Statements | Impact Item | Impact Amount (HKD thousand) | | :--- | :--- | | **Impact on Balance Sheet as at April 1, 2019** | | | Recognition of Right-of-Use Assets | 17,731 | | Recognition of Current Lease Liabilities | (3,158) | | Recognition of Non-current Lease Liabilities | (14,573) | | **Impact on Statement of Profit or Loss for the Period** | | | Increase in Loss for the Period | (712) | [Segment Information](index=20&type=section&id=4.%20分部資料) The Group's operations are segmented into "Cinema Investment and Management" and "Film Entertainment, New Media Development and Licensing," with all HKD 15.47 million in turnover this period derived from the former, which reported a segment result of HKD 0.526 million, while the film entertainment segment recorded a loss of HKD 2.274 million. Segment Results Summary (For the six months ended September 30, 2019) | Segment | Segment Revenue (HKD thousand) | Reportable Segment Result (HKD thousand) | | :--- | :--- | :--- | | Cinema Investment and Management | 15,467 | 526 | | Film Entertainment, New Media Development and Licensing | – | (2,274) | | **Total** | **15,467** | **(1,748)** | [Equity-Settled Payments](index=22&type=section&id=5.%20以股份為基礎之付款) The Group has convertible bonds, share option schemes, and share award schemes, with 8.55 million award shares granted to Executive Director Mr. Stephen Chow under the share award scheme this period, recognizing related expenses of approximately HKD 0.123 million. - On August 16, 2019, the Company granted **8,550,000 award shares** to Executive Director Mr. Stephen Chow, recognizing **HKD 123,000** in share-based payments[71](index=71&type=chunk) - The Group has outstanding convertible bonds with a principal amount of **HKD 30 million** and a conversion price of **HKD 0.544 per share**[68](index=68&type=chunk) [Investments in and Loans to an Associate](index=27&type=section&id=12.%20於聯營公司的投資及向一間聯營公司授出貸款) The Group invested in and provided loans to associate Chuang Gao Game Limited, advancing a new three-year loan of RMB 16 million (approximately HKD 17.74 million) for VR/MR project development as of September 30, 2019, following the repayment of the original RMB 29 million loan. - As of September 30, 2019, the Group advanced a new three-year loan of **RMB 16 million** (approximately **HKD 17.74 million**) to associate Chuang Gao Game[91](index=91&type=chunk) - The original **RMB 29 million** loan principal and interest provided in September 2018 were deemed fully repaid in September 2019[91](index=91&type=chunk) [Related Party Transactions](index=33&type=section&id=17.%20關連人士及關連交易) Key related party transactions this period included interest income from a loan to associate Chuang Gao Game Limited, while total key management personnel compensation, including directors, significantly decreased to approximately HKD 0.5 million from HKD 1.04 million in the prior period. - Related party transactions this period primarily consisted of loan interest income of **HKD 0.317 million** received from associate Chuang Gao Game Limited[107](index=107&type=chunk) Key Management Personnel Compensation (For the six months ended September 30) | Item | 2019 (HKD thousand) | 2018 (HKD thousand) | | :--- | :--- | :--- | | Directors' Fees, Salaries, Allowances and Other Benefits | 377 | 464 | | Share-based Payments | 123 | 576 | | **Total** | **500** | **1,040** | [Events After Reporting Period](index=34&type=section&id=18.%20報告期後事項) On October 14, 2019, the Board resolved to grant a total of 34.1 million award shares under the share award scheme to certain grantees, including Executive Director Ms. Wen Kei Chow. - Subsequent to the reporting period, on October 14, 2019, the Company granted **34,100,000 award shares** under the share award scheme, with grantees including Executive Director Ms. Wen Kei Chow[110](index=110&type=chunk) [Other Information](index=35&type=section&id=其他資料) [Directors' and Chief Executive's Interests](index=35&type=section&id=董事及最高行政人員於股份及相關股份之權益及淡倉) As of September 30, 2019, Executive Directors Mr. Stephen Chow and Ms. Wen Kei Chow were deemed to jointly hold a 47.01% equity interest in the Company, indirectly held through a discretionary trust for their benefit and their family, with Mr. Stephen Chow also beneficially owning an additional 3.22% of shares. - Sinostar FE (PTC) Limited, as trustee of a discretionary trust, indirectly holds **47.01%** of the Company's shares, with beneficiaries including Mr. Stephen Chow, Ms. Wen Kei Chow, and their family[128](index=128&type=chunk)[130](index=130&type=chunk) Major Directors' Shareholdings (As at September 30, 2019) | Director Name | Nature of Interest | Number of Shares Held | Approximate Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | Mr. Stephen Chow | Beneficial Owner | 27,573,529 | 3.22% | | | Held by Trust | 402,121,240 | 47.01% | | Ms. Wen Kei Chow | Held by Trust | 402,121,240 | 47.01% | [Share Award and Share Option Schemes](index=35&type=section&id=購股權計劃) The Company adopted a new share award scheme in August 2019, granting 8.55 million shares to Executive Director Mr. Stephen Chow under this scheme during the period, while 71.5 million unexercised share options were held by directors and employees under the existing share option scheme at period-end. - The Company adopted a share award scheme on August 14, 2019, with a scheme limit of **10%** of the issued shares on the adoption date[115](index=115&type=chunk)[118](index=118&type=chunk) - During the period, **8,550,000 shares** were granted to Mr. Stephen Chow under the share award scheme[119](index=119&type=chunk) - As of September 30, 2019, a total of **71,500,000 share options** remained unexercised under the share option scheme[134](index=134&type=chunk) [Corporate Governance](index=42&type=section&id=企業管治) During the reporting period, the Company largely complied with the Corporate Governance Code, with key deviations including the absence of distinct Chairman and Chief Executive Officer roles, whose responsibilities are jointly shared by executive directors, and the Nomination Committee Chairman being an executive director rather than an independent non-executive director. - The Company deviated from the Corporate Governance Code by not establishing separate roles for Chairman and Chief Executive Officer, with responsibilities jointly undertaken by the Board[144](index=144&type=chunk) - The Nomination Committee Chairman is Executive Director Ms. Wen Kei Chow, not the Board Chairman or an independent non-executive director as recommended by the Code, though independent non-executive directors constitute the majority of the committee members[149](index=149&type=chunk) - Non-executive directors are not appointed for a specific term but are subject to retirement by rotation and re-election at annual general meetings in accordance with the Company's articles of association[152](index=152&type=chunk)

比高集團控股有限公司 股份代號 :822 0 ( 於開曼群島註冊成立之有限公司 ) 2019/20 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報告之內容概不負責，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報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任。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定提供有關比高集團控股有限公 司（「本公司」）之資料。本公司各董事（「董事」）共同及個別對本報告承擔全部責任。董事於作出 一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大方面均為真確及完整， 且並無誤導或欺詐成分；而本報告並無遺漏任何其他事項，致使其 ...

Financial Performance - The annual report covers the financial performance for the year ended March 31, 2019[11]. - The Group recorded a total turnover of approximately HK$38.0 million for the Year, representing a decrease of approximately 20.6% compared to HK$47.9 million for last year[16]. - The gross revenue from the Cinema Business was HK$38.0 million, down from HK$46.9 million in the previous year, indicating a decline in both revenue and gross profit[16]. - The Group did not generate any revenue from the Filmed Entertainment Business during the Year due to the absence of suitable business opportunities[16]. - As of 31 March 2019, the Group's total assets were approximately HK$115.3 million, a decrease from HK$145.9 million in 2018, with cash and cash equivalents at approximately HK$60.9 million[19]. - The debt ratio as of 31 March 2019 was approximately 0.32, compared to 0.28 in the previous year, indicating a slight increase in leverage[19]. - The Group experienced a foreign exchange loss of approximately HK$3.9 million during the Year, a shift from an exchange gain of approximately HK$2.6 million in the previous year[17]. - The Group reported a loss for the year ended March 31, 2019, with no final dividend recommended for the year (2018: Nil)[179]. Strategic Focus and Business Development - The Group focused on movie production, licensing, derivatives, crossover marketing, and interactive content provision during the year[12]. - The cinema investment and management segment was also a key area of focus for the Group[12]. - The Group's strategy includes expanding its presence in the filmed entertainment and new media sectors[12]. - The Group aims to leverage its licensing businesses to drive revenue growth[12]. - Future outlook includes potential market expansion in cinema management[12]. - The Group is committed to exploring new technologies to enhance its film production capabilities[12]. - The report highlights the significance of crossover marketing in reaching broader audiences[12]. - The Group's overall performance reflects its strategic focus on diversified entertainment offerings[12]. - The Group plans to focus on investment opportunities in cinemas and popular movies in the PRC, alongside expanding into consultancy services and online gaming[39][40]. - The Group aims to leverage its existing businesses to create synergies with new ventures, enhancing future benefits[43][45]. Corporate Governance - The Company emphasizes high standards of corporate governance to effectively monitor business activities and protect shareholder interests[59]. - The Board is composed of seven Directors, including three executive Directors and three independent non-executive Directors, ensuring a balance of expertise and independence[69]. - The Company has complied with the mandatory provisions of the Corporate Governance Code, with specific deviations noted in the sections regarding the Chairman and Chief Officer[60]. - Directors' emoluments are determined based on their duties, the Company's performance, and current market conditions, with details disclosed in the financial statements[68]. - All Directors participated in continuous professional development activities during the Year to enhance their knowledge and skills[77]. - The Company has arranged appropriate insurance coverage for Directors and senior management against legal actions arising from corporate activities, reviewed annually[79]. - The Board is responsible for major decision-making and must approve significant transactions before they are executed[62]. - The Company has adopted a code of conduct for securities transactions by Directors, ensuring compliance with GEM Listing Rules[61]. - The Board will regularly review its composition to maintain an appropriate balance of skills and experience[67]. - The Company has made specific inquiries to all Directors regarding compliance with securities transaction standards, with no non-compliance reported[64]. - The company does not have a Chairman of the Board and Chief Executive Officer as of March 31, 2019, and is in the process of locating suitable candidates for these positions[86]. - The Board members share the responsibility to ensure good corporate governance practices and procedures are established, discussing corporate governance issues in meetings to approve interim and annual results[89]. - The executive Directors are responsible for encouraging all directors to actively contribute to the Board's affairs and ensuring that decisions reflect Board consensus[90]. - Independent non-executive Directors hold at least one meeting annually to discuss significant issues of the Company without influence from executive Directors[91]. - The executive Directors ensure effective communication with shareholders, discussing shareholder viewpoints in Board meetings following shareholders' meetings[92]. - The nomination committee is chaired by an executive Director and consists of a majority of independent non-executive Directors, who have veto power over inappropriate nominations[97]. - The remuneration committee consults with an executive Director regarding remuneration proposals for other executive Directors[98]. - The Board has appointed at least one executive Director to attend the annual general meeting due to the chairmanship vacancy[100]. - The Company has established a Remuneration Committee comprising all independent non-executive Directors and one executive Director, responsible for making recommendations on remuneration policies[121]. - The primary goal of the executive remuneration packages is to motivate executive Directors and senior management by linking their remuneration to the Group's operational results[123]. - The principal elements of the Group's executive remuneration package include basic salary, discretionary bonus, and share options[125]. - The Company Secretary reports to the executive Directors and assists the Board in functioning effectively[120]. - The corporate governance policy of the Group has been reviewed and deemed effective by the Board[112]. - Non-executive Directors are subject to re-election at the annual general meeting, ensuring accountability[106]. - One-third of the Directors must retire by rotation, with each Director subject to retirement at least once every three years[107]. - The Remuneration Committee reviews and approves compensation arrangements for Directors dismissed for misconduct[121]. - The Company has a formal and transparent procedure for developing remuneration policy, ensuring alignment with corporate goals[121]. - The Nomination Committee is composed of Ms. Chow Man Ki Kelly (Chairman) and all independent non-executive Directors, including Ms. Choi Mei Ping, Mr. Tsoi Chiu Yuk, and Mr. Ong King Keung[126]. - The responsibilities of the Nomination Committee include reviewing the structure, size, and composition of the Board, and making recommendations for the appointment or reappointment of directors[127]. - The Board has adopted a board diversity policy that considers factors such as gender, age, cultural background, educational background, skills, knowledge, and professional experience[136]. - The Audit Committee, comprising all independent non-executive Directors, is responsible for reviewing the Company's annual, interim, and quarterly reports[138]. - As of March 31, 2019, the Directors are not aware of any material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern[140]. - The Nomination Committee may consult various sources to identify suitable candidates, including referrals from existing Directors and recommendations from third-party agencies[132]. - All appointments of Directors will be confirmed by filing the consent to act as Director with relevant regulatory authorities if required[133]. - The Audit Committee provides advice and comments on the Company's financial reporting, risk management, and internal control systems[139]. - The Nomination Committee will evaluate candidates' suitability through interviews, background checks, and third-party reference checks[133]. - The Company has established specific written terms of reference for both the Nomination Committee and the Audit Committee in compliance with relevant regulations[138]. Risk Management and Internal Controls - The Board has engaged independent professional advisors to conduct an annual review of the Group's risk management and internal control systems, which were deemed effective and adequate[162]. - The Company has implemented a phased improvement plan to enhance its internal controls and risk management system, focusing on a risk-based approach[155]. - The risk management framework includes a comprehensive identification and prioritization of material risks throughout the Group[152]. - The internal controls model is based on the COSO framework, which includes five components: Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring[154]. - The Board is responsible for overseeing the effectiveness of the risk management systems and internal controls, setting strategic objectives, and monitoring risk exposure[160]. - The Company aims to further integrate internal controls and risk management into business processes, including annual budgeting and planning[156]. - No significant areas of concern affecting financial, operational, compliance controls, and risk management functions were identified during the review[162]. - The Company has established a policy for handling and disseminating inside information to comply with statutory and listing rule disclosure requirements[164]. - The risk management process and internal controls are practiced across business operations and functional areas[160]. Environmental and Social Responsibility - The Group has initiated a paper recycling program in offices to promote environmental awareness among employees[191]. - The Board has instructed employees to adhere to anti-corruption practices and not to solicit or accept advantages from business partners[196]. - The Group emphasizes the importance of integrity and fairness, ensuring all employees adhere to anti-corruption regulations[197]. - The Group provides career advancement opportunities and encourages participation in professional examinations and training through leave grants[198]. - Competitive remuneration is offered to employees, with annual performance reviews reflecting individual contributions[198]. - The Company operates a share option scheme to incentivize and reward eligible participants contributing to its success[199]. Communication and Transparency - The Company emphasizes the importance of good communication with shareholders and maintains a policy of open and timely disclosure of corporate information[172]. - The Board recognizes the need for transparency to enhance investor relations[172]. - The Company updates shareholders on business developments and financial performance through various corporate publications[173]. - A summary of the Group's financial performance over the last five years is available, although it does not form part of the audited consolidated financial statements[180]. - The Company’s business review and likely future developments are detailed in the Directors' Business Review section[187].

股份代號 :8220 ( 於開曼群島註冊成立之有限公司 ) 比高集團控股有限公司 2018/19 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上市公司之新興性質使然，在GEM買賣之證券可能會承受較於主板買賣之證券為高 之市場波動風險，同時亦不保證在GEM買賣之證券會有高流通量之市場。 香港交易及結算所有限公司及聯交所對本報告之內容概不負責，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報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任。 本報告乃遵照聯交所GEM證券上市規則（「GEM上市規則」）之規定提供有關比高集團控股有限 公司（「本公司」）之資料。本公司各董事（「董事」）共同及個別對本報告承擔全部責任。各董事於 作出一切合理查詢後確認，就彼等所深知及確信，本報告所載資料在各重大方面均為準確及完 整，且並無誤導或欺詐成分；而本報 ...