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].
比高集团(08220) - 2021 Q3 - 季度财报