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].
比高集团(08220) - 2021 Q1 - 季度财报