Bingo Group Holdings Limited released its audited results for the year ended 31 March 2026.
Revenue and profit • Turnover jumped to HK$47.38 million, a year-on-year increase of 291% driven by rapid expansion in new-media exploitations (HK$41.68 million; FY25: HK$6.67 million). • Cinema income slipped to HK$2.25 million (FY25: HK$2.75 million), reflecting continued weakness in Mainland China’s box-office environment. • Gross profit tripled to HK$18.93 million (FY25: HK$6.17 million); gross margin improved to 40.0% (FY25: 50.9%). • Administrative expenses almost doubled to HK$39.59 million, mainly due to higher staff and business development costs related to the new-media units. • After including HK$3.96 million fair-value gain on an unlisted AI investment and HK$1.94 million finance costs, loss attributable to shareholders widened to HK$25.91 million (FY25: HK$21.45 million). Basic and diluted loss per share increased to 24.93 HK cents from 20.89 HK cents.
Balance sheet and liquidity • Total assets rose 29% to HK$68.87 million, supported by a HK$12.01 million fair-valued stake (12%) in AI start-up Hangzhou Jiyi Artificial Intelligence Technology Co., Ltd. • Cash and cash equivalents stood at HK$29.40 million (FY25: HK$40.23 million). • Total liabilities expanded to HK$121.79 million, lifting the debt-to-asset ratio to 1.77 (FY25: 1.59). Capital deficiency widened to HK$52.92 million. • Current liabilities include HK$19.00 million of convertible bonds, which were fully converted into 69.09 million shares on 28 May 2026, post balance-sheet date.
Operational highlights • New-media subsidiaries Xingfeng and Xingyu, established in FY26, generated HK$37.80 million of revenue, underpinning the surge in the filmed entertainment and new-media segment. • The Group received RMB75 million (HK$84.95 million) in upfront payments from Beijing iQIYI under a five-year strategic cooperation framework for developing multiple intellectual-property projects. At year-end this amount remained recorded as contract liabilities. • Four film and short-drama projects received total investment of HK$5.33 million and were still in production. • Major customers A, B and C contributed HK$6.27 million, HK$10.02 million and HK$8.51 million of revenue respectively. • Staff headcount was 97 (FY25: 102); total staff costs rose to HK$21.02 million (FY25: HK$10.0 million).
Capital moves • 3.73 million new shares were issued during the year from option exercises. • Post year-end, full conversion of convertible bonds eliminated the HK$19.00 million liability and enlarged share capital by 69.09 million shares.
Going-concern emphasis • The auditor issued an unmodified opinion but drew attention to material uncertainty over the Group’s ability to continue as a going concern, citing recurring losses and capital deficiency. • Management plans include tighter cost controls, financial support from major shareholders and further expansion of revenue-generating businesses.
Dividends • No final dividend was recommended for FY26 (FY25: Nil).
Business outlook • The Group is prioritising new-media exploitations, licensing and AI-driven content creation, while adopting a conservative stance on its single-cinema operation amid a subdued PRC film market. • Management anticipates that projects under the Beijing iQIYI partnership and further monetisation of proprietary IP such as “Mermaid”, “CJ7” and “King of Comedy” will underpin revenue growth over the 2027 financial year and beyond.
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