Financial Performance - During the three months ended June 30, 2021, Bingo Group Holdings Limited generated approximately HK$1.8 million in revenue and HK$1.0 million in gross profit from its Cinema Business segment[17]. - The Group recorded a total turnover of approximately HK$1.8 million for the period, compared to no turnover in the corresponding period last year due to cinema closures caused by COVID-19[27]. - Revenue for the three months ended June 30, 2021, was HK$1,830,000, compared to HK$0 for the same period in 2020[41]. - Gross profit for the period was HK$1,035,000, with a gross profit margin of approximately 56.6%[41]. - Loss before taxation decreased to HK$3,678,000 from HK$6,924,000 in the previous year, representing a 46.5% improvement[41]. - Loss for the period was HK$3,678,000, compared to HK$6,939,000 in the same period last year, indicating a reduction of 47.0%[41]. - The Group's loss decreased from approximately HK$6.9 million for the three months ended June 30, 2020, to approximately HK$3.7 million for the current period[29]. - Total comprehensive loss for the period was HK$3,802,000, compared to HK$6,981,000 in the previous year, showing a 45.5% decrease[43]. - The company experienced a loss for the period of HK$3,478,000 as of June 30, 2021[81]. Business Segments - The Cinema Business has become the prime revenue generator for the Group during the Period[16]. - The Group's Filmed Entertainment Business did not generate any revenue during the Period as no suitable business opportunities were identified[18]. - The Group continues to focus on Filmed Entertainment, New Media Exploitations, Licensing Businesses, and Cinema Business[15]. - The ongoing development of the Cinema Business is a key focus for the Group moving forward[16]. - The Group's operations are primarily engaged in movie production, licensing, and cinema investment and management[15]. Cost Management - Administrative expenses decreased from approximately HK$5.7 million in the previous year to approximately HK$4.6 million during the period, reflecting tightened cost control measures[28]. - Administrative expenses decreased to HK$4,563,000 from HK$5,742,000, reflecting a reduction of 20.6%[41]. - Finance costs decreased to HK$603,000 from HK$861,000, a reduction of 30.0%[41]. - Direct expenses of cinema business for the three months ended 30 June 2021 were HK$795,000, with no expenses reported for the same period in 2020[67]. - Depreciation of property, plant, and equipment for 2021 was HK$413,000, down from HK$643,000 in 2020[67]. - Staff costs, including salaries and allowances, were HK$1,783,000 for 2021, compared to HK$1,891,000 in 2020[67]. Joint Ventures and Investments - Bingo Movie Development Limited entered into a joint venture agreement with Lechuang Holdings, with Bingo Movie holding a 49% stake and Lechuang holding 51%[22]. - Bingo Movie has advanced loans totaling RMB29 million (approximately HK$34.9 million) and RMB16 million (approximately HK$19.2 million) to the joint venture for VR and MR project development[22][34]. - The VR and MR industry is rapidly developing, and the Company sees growth potential in these projects through the joint venture[34][37]. - The Group plans to focus on investment opportunities in cinemas and the cultural industry in China, alongside existing business operations[33][36]. Share Capital and Options - As of June 30, 2021, the total issued share capital of the company was 855,384,669 shares[90]. - The basic and diluted loss per share for the three months ended June 30, 2021, was HK$0.41, compared to HK$0.75 for the same period in 2020[76]. - The weighted average number of ordinary shares for calculating basic and diluted loss per share remained constant at 855,384,669 for both 2021 and 2020[77]. - The Company has a share option scheme adopted on August 15, 2012, allowing the Board to offer share options to employees and directors[92]. - The total number of options granted to directors during the period was zero, indicating no new options were issued[95]. - The number of options exercised during the period was also zero, showing no options were utilized[95]. - The Company’s share option scheme allows for the issuance of shares to employees and directors based on their contributions[94]. - The adjustments to share options reflect a share consolidation effective on May 2, 2019[97]. Taxation - No Hong Kong Profits Tax provision was made for the three months ended June 30, 2021, as there were no assessable profits[72]. - The taxation charge recognized in profit or loss for the three months ended June 30, 2020 included a current tax of HK$15,000 in the PRC[70]. - The Company did not recognize any PRC Enterprise Income Tax for its subsidiaries for the three months ended June 30, 2021, due to lack of taxable profit[72]. - The directors of the Company assessed the impact of the two-tiered profits tax regime as negligible on the financial results[72]. - The Company continues to monitor its financial performance and tax obligations in light of the new tax regulations[72]. Corporate Governance - The audit committee reviewed the Group's unaudited results for the three months ended June 30, 2021, and confirmed compliance with applicable accounting standards and GEM Listing Rules[138]. - All Directors have complied with the required standard of dealings and the code of conduct regarding securities transactions throughout the three months ended June 30, 2021[140]. - The shareholding structure indicates a significant concentration of ownership among a few major shareholders, which may impact corporate governance and decision-making[113]. - The Group has not engaged in any business that competes with its operations, ensuring no conflict of interest among directors and substantial shareholders[136].
比高集团(08220) - 2022 Q1 - 季度财报