Revenue and Profitability - For the six months ended September 30, 2025, Bingo Group Holdings Limited generated revenue of approximately HK$1.2 million and gross profit of HK$0.6 million from its Cinema Business, representing a slight increase from HK$0.9 million and HK$0.5 million in the same period of 2024[17][21]. - The Group recorded a total turnover of approximately HK$28.9 million, representing an increase of approximately HK$25.7 million compared to approximately HK$3.2 million in Period 2024[54]. - Revenue from the New Media Businesses of Xingfeng and Xingyu contributed approximately HK$24.6 million during the Period[54]. - Revenue for the six months ended September 30, 2025, was HK$28,900,000, a significant increase from HK$3,225,000 in the same period of 2024, representing a growth of 795%[100]. - Gross profit for the period was HK$4,702,000, compared to HK$2,799,000 in the previous year, indicating a year-over-year increase of 68%[100]. - Revenue from the cinema business increased to HK$1,156,000 from HK$893,000, reflecting a growth of 29.5% year-over-year[116]. - Revenue from new media exploitations surged to HK$27,114,000, compared to HK$1,727,000 in the previous year, indicating a remarkable increase of 1,471%[116]. Financial Position - As of 30 September 2025, the Group's total assets were approximately HK$75.8 million, up from HK$53.4 million as of 31 March 2025, with cash and cash equivalents decreasing by 9.2% to approximately HK$36.5 million[58]. - The debt ratio as of 30 September 2025 was approximately 1.60, slightly up from 1.59 as of 31 March 2025, indicating the Group's liabilities exceed its assets[58]. - The Group recorded total revenue of approximately HK$28.9 million, an increase of approximately HK$25.7 million compared to HK$3.2 million in the previous period, primarily driven by the rapid development of its new media business[57]. - The Group incurred a loss of approximately HK$13.9 million for the Period, an increase of approximately HK$2.3 million compared to the loss of HK$11.6 million for Period 2024[55]. - The company reported a loss before taxation of HK$12,716,000 for the six months ended September 30, 2025, compared to a loss of HK$11,224,000 in the same period of 2024[120]. - The total comprehensive loss for the period was HK$14,154,000, up from HK$11,621,000 in the prior year, marking an increase of 21.8%[101]. Investments and Projects - The Group has invested HK$3.8 million in two film projects during the period, which have not yet been completed, resulting in no revenue generated[23]. - Significant cash payments were received from Beijing iQIYI during the year ended March 31, 2025, indicating confidence that this business segment will drive future revenue over the next five years[24]. - The Group is in the process of finalizing additional filmed entertainment projects, indicating ongoing expansion in this sector[18]. - The Group's investment in Hangzhou Jiyi Artificial Intelligence Technology Company, which owns the AIGC model "Xingyi," represents a 12% equity interest and is seen as a promising opportunity in the gaming sector[92]. - The Group has confirmed an online TV series production with Beijing iQIYI, with the production yet to be launched as of September 30, 2025[18]. Strategic Partnerships and Licensing - The Group continues to focus on Filmed Entertainment, New Media Exploitations, Licensing Businesses, and Cinema Business, with ongoing developments in these areas[15][20]. - A strategic cooperation framework agreement was established with Beijing iQIYI and Zhouling Culture & Media, effective from August 31, 2024, to July 31, 2029, for co-producing various media projects[31]. - The licensing agreement for "King of Comedy" and "New King of Comedy" generated service fees totaling RMB 7.0 million (approximately HK$7.7 million), with RMB 2.8 million (approximately HK$3.0 million) recognized as revenue during the period[25]. - The Group holds licenses for multiple IPs, including "Mermaid" and "King of Comedy," and plans to explore various commercialization opportunities such as merchandising and gamification[81]. - The successful licensing of "King of Comedy" and "The New King of Comedy" to Beijing iQIYI is expected to enhance audience reception and broaden reach for related programs, significantly boosting the value of the Company's IP resources[84]. Operational Challenges and Future Outlook - The revenue from the Cinema Business remained low due to unsatisfactory conditions in the film market of the PRC during the reporting period[17][21]. - The Group plans to adopt a more prudent approach in its cinema business due to the deterioration of the overall cinema market in China[73]. - The Group is adopting a more cautious approach towards its cinema business due to the significant decline in the overall cinema industry in mainland China, which has not met previous economic growth expectations[76]. - The Group's performance metrics indicate a cautious optimism for future revenue growth despite current market challenges[17][21]. - The Group is confident that the film entertainment business will become a significant revenue driver in the next five years despite no revenue generated in the current period[24]. Administrative and Operational Expenses - Administrative expenses increased from approximately HK$6.6 million in Period 2024 to approximately HK$21.2 million during the Period[55]. - Total staff costs, including directors' remuneration, were approximately HK$8.2 million during the period, an increase of approximately HK$2.9 million compared to HK$5.3 million in the previous period, mainly due to expenses related to the new media business[70]. - The company incurred finance costs of HK$1,262,000 for the six months ended September 30, 2025, compared to HK$1,144,000 in the previous year, an increase of 10.3%[100]. Share Capital and Equity - The share capital increased to HK$10,350,000 as of September 30, 2025, from HK$10,265,000 as of March 31, 2025, reflecting a growth of 0.83%[103]. - The total number of issued and fully paid ordinary shares increased to 103,495,000 from 102,645,000, reflecting an increase of 850,000 shares due to the share option scheme[180]. - The total principal of convertible bonds issued to Mr. Chiau was HK$19,000,000, with 69,090,090 shares to be allotted upon full exercise of these bonds[198].
比高集团(08220) - 2026 - 中期财报