| 時間：2019年08月12日 18:35:50 中財網 |
原標題:日光控股:第三季度業績報告 2019
(Incorporated in the Cayman Islands with limited liability)
（於開曼群島註冊成立的有限公司）
Stock Code股份代號 : 8451
2019
Third Quarterly Report
第三季度業績報告
CHARACTERISTICS OF GEM
GEM之特色
GEM has been positioned as a market designed to GEM的定位，乃為中小型公司提供一個上市的
accommodate small and mid-sized companies to which a 市場，此等公司相比起其他在聯交所上市的公司
higher investment risk may be attached than other companies 帶有較高投資風險。有意投資的人士應了解投資
listed on the Stock Exchange. Prospective investors should be 於該等公司的潛在風險，並應經過審慎周詳的考
aware of the potential risks of investing in such companies 慮後方作出投資決定。
and should make the decision to invest only after due and
careful consideration.
Given that the companies listed on GEM are generally small 由於
GEM上市公司普遍為中小型公司，在
GEMand mid-sized companies, there is a risk that securities traded 買賣的證券可能會較於聯交所主板買賣之證券承
on GEM may be more susceptible to high market volatility than 受較大的市場波動風險，同時無法保證在
GEMsecurities traded on the Main Board of the Stock Exchange 買賣的證券會有高流通量的市場。
and no assurance is given that there will be a liquid market in
the securities traded on GEM.
Hong Kong Exchanges and Clearing Limited and the Stock Exchange 香港交易及結算所有限公司及聯交所對本報告內
take no responsibility for the contents of this report, make no 容概不負責，對其準確性或完整性亦不發表任何
representation as to its accuracy or completeness and expressly 聲明，並明確表示，概不會對因本報告全部或任
disclaim any liability whatsoever for any loss howsoever arising from 何部分內容而產生或因倚賴該等內容而引致的任
or in reliance upon the whole or any part of the contents of this report. 何損失承擔任何責任。
This report, for which the Directors collectively and individually accept 本報告的資料乃遵照
GEM上市規則而刊載，旨在
full responsibility, includes particulars given in compliance with the 提供有關本公司的資料；董事願就本報告的資料
GEM Listing Rules for the purpose of giving information with regard to 共同及個別地承擔全部責任。董事在作出一切合
the Company. The Directors, having made all reasonable enquiries, 理查詢後確認，就其所深知及確信，本報告所載
confirm that to the best of their knowledge and belief, the information 資料在各重要方面均屬準確完備，並無誤導或欺
contained in this report is accurate and complete in all material 詐成分，且並無遺漏任何其他事項，足以令致本
respects and not misleading or deceptive and there are no other 報告或其所載任何陳述產生誤導。
matters the omission of which would make any statement herein or
this report misleading.
Unless otherwise stated, all monetary figures are expressed in 除另有指明外，所有幣值均以新加坡元呈列。本
Singapore dollars. Certain amounts and percentage figures included 報告所載若干金額及百分比數字已經湊至整數。
in this report have been subject to rounding adjustments. Accordingly, 因此，若干圖表總金額一欄所示的數字或與數字
figures shown as totals in certain tables may not be an arithmetic 相加計算所得總數略有出入。本報告所用詞
..的
aggregation of the figures preceding them. Expressions used 涵義載列於「釋義及技術詞
..」一節。
throughout this report have their meanings set out in the section
headed 「Definitions and Glossary of Technical Terms」.
This report will remain on the website of GEM at www.hkgem.com on 本報告將由刊登日期起計最少一連七日於
GEMthe 「Latest Listed Company Information」 page for at least 7 days 網站
www.hkgem.com「最新上市公司公告」網頁
from the date of publication and on the website of the Company at 及本公司網站
www.sunlightpaper.com.sg登載。
www.sunlightpaper.com.sg.
2019年第三季度業績報告 / 日光（1977）控股有限公司
CONTENTS
目錄
3 Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
未經審核簡明綜合損益及其他全面收益表
4 Unaudited Condensed Consolidated Statement of Changes in Equity未經審核簡明綜合權益變動表
6 Notes to the Unaudited Condensed Consolidated Financial Statements未經審核簡明綜合財務報表附註
10 Management Discussion and Analysis管理層討論及分析
13 Corporate Governance and Other Information企業管治及其他資料
20 Definitions and Glossary of Technical Terms釋義及技術詞彙
SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
UNAUDITED THIRD QUARTERLY RESULTS
未經審核第三季度業績
The Board is pleased to report the unaudited condensed 董事會欣然呈報本集團
2019年第三季度的未經
consolidated financial results of the Group for 2019Q3, together with 審核簡明綜合財務業績，連同
2018年第三季度
the unaudited comparative figures for 2018Q3, as follows:的未經審核比較數字如下：
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS
AND OTHER COMPREHENSIVE INCOME
未經審核簡明綜合損益及其他全面收益表
For 2019Q3
2019年第三季度
2019Q3 2018Q3
2019年2018年
第三季度
第三季度
Notes $』000 $』000
附註千元千元
REVENUECost of sales
收益
銷售成本
3 11,328
(8,753)
9,888
(7,541)
GROSS PROFITOther incomeDistribution expensesAdministrative expensesListing expensesOther expenses
毛利
其他收入
分銷開支
行政開支
上市開支
其他開支
2,575
128
(1,092)
(1,162)
–
(93)
2,347
245
(925)
(731)
(2,285)
–
PROFIT/(LOSS) FROM OPERATIONSInterest expenses on bank loanInterest expenses on finance leases
經營溢利
╱（虧損）
銀行貸款利息開支
融資租賃利息開支
356
(9)
(1)
(1,349)
(9)
(6)
PROFIT/(LOSS) BEFORE TAXATIONTaxation
除稅前溢利
╱（虧損）
所得稅開支
4
5
346
(144)
(1,364)
(225)
PROFIT/(LOSS) AND TOTAL
COMPREHENSIVE INCOME/(LOSS)
FOR THE PERIOD
期內溢利
╱（虧損）及期內
其他全面收益
╱（虧損）
202 (1,589)
EARNINGS/(LOSS) PER SHAREBasic and diluted (cents)
每股盈利
╱（虧損）
基本及攤薄（仙）
6 0.03 (0.20)
2019年第三季度業績報告 / 日光（1977）控股有限公司
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
未經審核簡明綜合權益變動表
For 2019Q3
2019年第三季度
Share Share Merger Revaluation Retained
capital premium reserve reserve earnings Total
股本股份溢價合併儲備重估儲備保留溢利總額
$』000 $』000 $』000 $』000 $』000 $』000
千元千元千元千元千元千元
At 1.10.2017 於
2017年
10月
1日
(Audited)（經審核）
–* – 580 4,711 2,750 8,041
Changes in equity:權益變動：
Loss and total comprehensive 期內虧損及全面虧損總額
loss for the period– – – – (1,589) (1,589)
Issue of shares發行股份
1––––1
Effect of reorganisation重組的影響
–(1)– – –(1)
Issue of new shares by way of 透過股份發售發行
share offer (note 1)新股份（附註
1）
334 8,862 – – – 9,196
Transaction costs attributable 發行新股份相關交易
to issue of new shares成本
– (1,637) – – – (1,637)
Capitalisation issue (note 2)資本化發行（附註
2）
1,003 (1,003) – – – –
At 30.6.2018 於
2018年
6月
30日
(Unaudited)（未經審核）
1,338 6,221 580 4,711 1,161 14,011
Note 1:
The Company was listed on GEM on 16.4.2018 by way of share 附註
1：本公司於
2018年4月16日透過按招股價
0.275offer of 200,000,000 new Shares at the offer price of HK$0.275 per 港元發售
200,000,000股新股份進行股份發售
Share. The gross proceeds were HK$55.0 million or approximately 在
GEM上市。所得款項總額為
55,000,000港
S$9.2 million. 元或約
9,200,000新加坡元。
Note 2:
On the Listing Date, 599,420,000 new Shares were issued pursuant 附註
2：於上市日期，
599,420,000股新股份根據招股
to the Capitalisation Issue as described in the Prospectus. 章程所述資本化發行而發行。
* The balance represents an amount less than $1,000
*結餘少於
1,000元之金額
SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
未經審核簡明綜合權益變動表
For 2019Q3
2019年第三季度
Share
capital
股本
$』000
千元
Share
premium
股份溢價
$』000
千元
Merger
reserve
合併儲備
$』000
千元
Revaluation
reserve
重估儲備
$』000
千元
Retained
earnings
保留溢利
$』000
千元
Total
總額
$』000
千元
At 1.10.2018
(Unaudited)
於
2018年
10月
1日
（未經審核）
1,338 6,221 580 4,711 1,447 14,297
Changes in equity:
Profit and total comprehensive
income for the period
權益變動：
期內溢利及全面收益總額
– – – – 202 202
At 30.6.2019
(Unaudited)
於
2019年
6月
30日
（未經審核）
1,338 6,221 580 4,711 1,649 14,499
2019年第三季度業績報告 / 日光（1977）控股有限公司
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
未經審核簡明綜合財務報表附註
For 2019Q3
2019年第三季度
1 General Information 1一般資料
The Company was incorporated as an exempted company with 本公司於
2017年
9月
21日在開曼群島註冊
limited liability in the Cayman Islands on 21.9.2017. The Shares 成立為獲豁免有限公司。股份於
2018年
4were listed on GEM on 16.4.2018. 月
16日在
GEM上市。
The registered address of the Company is Cricket Square, 本公司的註冊地址為
Cricket Square,
Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Hutchins Drive, P.O. Box 2681,Grand
Cayman Islands. The head office and principal place of business Cayman, KY1–1111, Cayman Islands。新加坡
in Singapore is located at 11 Tuas South Street 5, Singapore 總辦事處及主要營業地點位於
11 Tuas
637590. The principal place of business of the Company in South Street 5, Singapore 637590。本公司
Hong Kong is located at 31/F., 148 Electric Road, North Point, 的香港主要營業地點位於香港北角電氣道
Hong Kong. 148號
31樓。
The Group is principally engaged in the supply of tissue 本集團主要從事向新加坡企業客戶供應衛
products to corporate customers in Singapore. The subsidiary 生紙產品。
SPP Investments為本公司直接
directly and wholly-owned by the Company is SPP Investments, 全資擁有的附屬公司，為投資控股公司。
which is an investment holding company. The subsidiary Sunlight Paper為本公司（透過
SPP
indirectly and wholly-owned by the Company (through SPP Investments）間接全資擁有的附屬公司，主
Investments) is Sunlight Paper, which is principally engaged in 要從事向新加坡企業客戶供應衛生紙產品。
the supply of tissue products to corporate customers in
Singapore.
The immediate and ultimate holding company is YJH Group. 直接及最終控股公司為
YJH集團。
SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
未經審核簡明綜合財務報表附註
For 2019Q3
2019年第三季度
2 Basis of Preparation
The unaudited condensed consolidated financial statements are
prepared in accordance with International Accounting Standard
34 「Interim Financial Reporting」 issued by the International
Accounting Standards Board and include applicable disclosures
required by the GEM Listing Rules. The unaudited condensed
consolidated financial statements are presented in SGD which
is the Company’s functional currency. All financial information is
presented in SGD and rounded to the nearest thousand, unless
otherwise stated.
In the Relevant Period, the accounting policies applied are
consistent with those of the audited consolidated financial
statements for FY2018, as described therewith. The Group has
adopted all the new and revised IFRSs issued that are relevant
to its operations and effective for its accounting period
beginning on 1.10.2018. The application of these new and
revised IFRSs did not result in significant changes to the
Group’s accounting policies, presentation of the Group’s
financial statements and amounts reported for the current
period and prior years. The Group has not early applied the new
and revised IFRSs that have been issued but are not yet
effective. The Directors anticipate that the application of these
new standard(s), amendment(s) and interpretation(s) will have
no material impact on the unaudited condensed consolidated
financial statements.
3 Revenue
The principal activity of the Group is the supply of tissue
products to corporate customers in Singapore. The Group’s
revenue is not significantly affected by seasonality.
232019Q3 2018Q3
2019年
第三季度
2018年
第三季度
$』000 $』000
千元千元
編製基準
未經審核簡明綜合財務報表乃根據國際會
計準則委員會頒佈的國際會計準則第
34號
「中期財務報告」編製，並載有
GEM上市規
則所規定的適用披露。未經審核簡明綜合
財務報表乃以本公司的功能貨幣新加坡元
呈列。除另有說明外，所有財務資料均以
新加坡元呈列，並已約整至最接近千位。
於有關期間內，誠如該等綜合財務報表所
述，所應用的會計政策與
2018財政年度的
經審核綜合財務報表所採用者一致。本集
團已採納所有已頒佈有關其經營業務，並
於
2018年
10月
1日開始的會計期間生效的
新訂及經修訂國際財務報告準則。應用該
等新訂及經修訂國際財務報告準則並無導
致本集團的會計政策、本集團財務報表的
呈列及於本期間及過往年度所呈列金額出
現任何重大變動。本集團並無提早應用已
頒佈但尚未生效的新訂及經修訂國際財務
報告準則。董事預期應用該等新準則、修
訂及詮釋將不會對未經審核簡明綜合財務
報表造成重大影響。
收益
本集團的主要業務為於新加坡供應衛生紙
產品予企業客戶。本集團的收益不受季節
性因素影響。
Tissue productsHygiene-related productsOthers
衞生紙產品
衞生相關產品
其他
10,053
908
367
8,740
869
279
11,328 9,888
2019年第三季度業績報告 / 日光（1977）控股有限公司
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
未經審核簡明綜合財務報表附註
For 2019Q3
2019年第三季度
4 Profit/(Loss) before Taxation 4除稅前溢利
╱（虧損）
The following items have been included in arriving at profit/(loss) 下列項目於達致除稅前溢利
╱（虧損）時已
before taxation: 計算在內：
2019Q3 2018Q3
2019年2018年
第三季度
第三季度
$』000 $』000
千元千元
Auditor’s remuneration核數師酬金
26 17
Contribution to defined contribution plan, 計入員工成本的定額供款計劃供款
included in staff costs85 69
Cost of inventories 存貨成本
8,262 7,137
Depreciation of property, plant and 物業、廠房及設備折舊
equipment243 236
Director fees董事袍金
46 23
Foreign exchange differences匯兌差額
68 (174)
Interest income利息收入
(58) (12)
Loss on disposal of property, 出售物業、廠房及設備虧損
plant and equipment5 1
Operating lease expenses經營租賃開支
25 25
Operating lease income經營租賃收入
– (16)
Staff costs員工成本
1,401 1,083
Trademark income商標收入
(34) (34)
Taxation 5稅項
2019Q3 2018Q3
2019年2018年
第三季度
第三季度
$』000 $』000
千元千元
Amount recognised in profit or loss於損益確認的金額
Current taxation即期稅項
Current period本期間
144
The Group is not subject to any income tax in the Cayman
Islands and BVI.
The income tax expenses of the Group relate to that of the
subsidiary in Singapore where the corporate income tax has
been provided at the statutory rate of 17% on the estimated
chargeable income arising in Singapore.
SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
本集團毋須繳納任何開曼群島及英屬處女
群島的所得稅。
本集團所得稅開支與新加坡附屬公司有關，
新加坡企業所得稅按於新加坡產生的估計
應課稅入息法定稅率
17%撥備。
NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
未經審核簡明綜合財務報表附註
For 2019Q3
2019年第三季度
6 Earnings/(Loss) per Share 6每股盈利
╱（虧損）
Basic earnings/(loss) per share is calculated by dividing the 每股基本盈利
╱（虧損）乃按本公司權益持
profit/(loss) attributable to equity holders of the Company by the 有人應佔溢利
╱（虧損）除以會計期間內已
weighted average number of ordinary shares in issue during the 發行普通股加權平均數計算。
accounting period.
The basic earnings/(loss) per share is calculated as follows: 每股基本盈利／（虧損）的計算如下：
2019Q3 2018Q3
2019年2018年
第三季度
第三季度
Profit/(loss) attributable to equity holders of 本公司權益持有人應佔溢利╱
the Company ($』000)（虧損）（千元）
202 (1,589)
Weighted average number of ordinary 已發行普通股加權平均數（千股）
shares in issue (』000)800,000 800,000
Basic earnings/(loss) per share (cents)每股基本盈利╱（虧損）（仙）
0.03 (0.20)
The number of ordinary shares for the purpose of calculating 釐定計算每股基本盈利╱（虧損）所用普通
basic earnings/(loss) per share has been determined on the 股數目時乃假設重組於
2017年10月1日已
assumption that the Reorganisation had been effective on 生效。
1.10.2017.
Diluted earnings/(loss) per share was the same as the basic 由於
2019年第三季度及
2018年第三
earnings/(loss) per share as there were no potential dilutive 季度並無尚未發行的潛在攤薄普通股，
ordinary shares outstanding during 2019Q3 and 2018Q3. 故每股攤薄盈利╱（虧損）與每股基本盈
利╱（虧損）相同。
Dividend 7股息
The Board has resolved not to declare the payment of dividend 董事會已議決不宣派
2019年第三季度的
for 2019Q3 (2018Q3: Nil). 股息（2018年第三季度：無）。
2019年第三季度業績報告 / 日光（1977）控股有限公司
MANAGEMENT DISCUSSION AND ANALYSIS
管理層討論及分析
BUSINESS REVIEW 業務回顧
We supply tissue products to corporate customers in Singapore. We 我們在新加坡為企業客戶供應衛生紙產品。我們
provide comprehensive services, ranging from advising the types and 提供全面服務，由就衛生紙產品種類及規格方面
specifications of tissue products, sourcing suitable products, 提供意見，以至採購合適產品、進行品質監控、
conducting quality control, delivery of products through our fleet of 利用我們的貨車隊付運產品及提供售後服務。
delivery trucks, to providing after-sales services.
Our revenue is mainly from the sale of: (i) tissue products, (ii) hygiene我
們的收益主要源自銷售：
(i)衛生紙產品、
(ii)衛
related products, and (iii) other related products. 生相關產品及
(iii)其他相關產品。
Our revenue for the Relevant Period was $11.3 million, an increase of 我們於有關期間的收益為
11,300,000元，較去年
14.6% against the Previous Period. The increase was primarily 同期增加
14.6%，主要由於客戶訂單有所增加，
attributable to increased orders from customers and adjustments to 以及於有關期間實施的售價調整所致。
selling prices implemented during the Relevant Period.
Our profit for the Relevant Period was $0.2 million against an adjusted 我們於有關期間的溢利為
200,000元，去年同期
profit of $0.7 million in the Previous Period. The lower profit was 的經調整溢利則為
700,000元。溢利減少主要由
mainly attributable to the increase in cost of sales resulting in lower 於銷售成本增加而導致毛利率下降、員工成本上
gross profit margins, higher personnel costs and post Listing 升及上市後開支。
expenses.
PROSPECTS 前景
We are optimistic on the growth of the industry in Singapore. A June 我們對新加坡的行業增長抱持樂觀態度。根據新
2019 report released by the Monetary Authority of Singapore forecast 加坡金融管理局發佈的
2019年6月報告，預測新
a gross domestic product growth of 2.1% in 2019 for Singapore. In 加坡於
2019年的本地生產總值增長為
2.1%。為
order to grasp the corresponding opportunities, we maintain our 把握相關機遇，我們憑藉逾四十年行內經驗，透
commitment to continuous growth through leveraging on our over 過與客戶及供應商建立穩固關係，以及監察產品
40-year experience in the industry, building strong ties with customers 質量和產品交付的滿意度，從而繼續致力達致持
and suppliers, and monitoring product quality and product delivery 續增長。
satisfaction.
We source for suppliers of tissue products at lower prices in order to 我們向價格較低的衛生紙產品供應商採購，以控
manage the increase in the cost of sales due to worldwide rise in 制因全球紙漿價格上漲而導致的銷售成本增幅。
paper pulp prices.
We will continue to evaluate development opportunities to strengthen 我們將繼續評估發展機會，以加強競爭優勢並鞏
our competitive advantage and market-leading position. We monitor 固其市場領導地位。我們會監察新衛生紙產品的
new tissue product developments, continue to source for good 開發、不斷搜羅優質且價格具競爭力的衛生紙及
quality tissue paper and tissue products with competitive pricing, and 衛生紙產品，並繼續密切留意其他衛生紙產品。
keep a look out for other tissue-related products.
We are optimistic about achieving sustainable growth and we are 我們對達致可持續增長抱持樂觀態度，並會致力
committed to bring greater returns to our Shareholders.為股東帶來更大回報。
10 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
MANAGEMENT DISCUSSION AND ANALYSIS
管理層討論及分析
FINANCIAL REVIEW 財務回顧
Revenue 收益
Revenue amounted to $11.3 million in the Relevant Period, 有關期間的收益為
11,300,000元，較去年同期的
representing an increase of $1.4 million or 14.6% as compared to 9,900,000元增加
1,400,000元或
14.6%，主要由
$9.9 million in the Previous Period. The increase was primarily 於客戶訂單有所增加，以及於有關期間實施售價
attributable to increased orders from customers and adjustment to 調整所致。
selling prices implemented in the Relevant Period.
.
Sales of tissue products increased by $1.3 million, representing
.衛生紙產品銷售增加
1,300,000元，增幅為
an increase of 15.0%. This is higher than the overall growth rate 15.0%，高於本集團於過往年度衛生紙產
of tissue products sales of the Group over the past years. In the 品銷售的整體增長率。去年同期，我們其
Previous Period, one of our major facilities management 中一名主要設施管理客戶減少向我們訂購
customers reduced its orders of hand towels from us. In the 抹手紙。於有關期間，我們加強銷售及市
Relevant Period, we strengthened our sales and marketing 場推廣力度，令客戶的衛生紙產品訂單增
efforts which resulted in increased orders of tissue products 加。受該等舉措以及售價調整影響，有關
from customers. Together with adjustments to selling prices, 期間的衛生紙產品銷售增加，遠足以抵銷
these initiatives increased the sales of tissue products during 去年同期抹手紙業務的虧損。
the Relevant Period, and more than made up for the loss of
hand towel business in the Previous Period.
.
Sales of hygiene-related products was basically the same as
.衛生相關產品銷售與去年同期基本上相同，
the Previous Period, with a slight increase of 4.5%. 略微增加
4.5%。
.
Sales of other products increased by $0.1 million, representing
.其他產品銷售增加約
100,000元，增幅約
an increase of 31.5%. This is mainly due to the increase in sales 31.5%，主要由於紙巾架及其他相關項目
of dispensers and other related items, which is generally in line 銷售增加，與衛生紙產品銷售增加大致相
with the increase in sales of tissue products. 符。
.
During the
Relevant
Period,
the
Group
adjusted
the
selling
.於有關期間，本集團鑑於存貨成本不斷增
prices of its products in view of the increasing cost of inventory. 加而調整其產品的售價。本集團採用成本
The Group adopts a cost-plus pricing policy. However, there is 加利潤定價政策，然而，從存貨成本增加
always a time lag between the increase in the cost of inventory 至實施新定價政策之間經常出現時間差。
and the implementation of new pricing policy. This is due to 此乃由於與若干客戶的現有訂約售價，以
existing contracted selling prices with some customers and due 及需要與客戶維持良好業務關係所致。
to the need to maintain the well-established business
relationship with customers.
Cost of sales 銷售成本
Cost of sales amounted to $8.8 million in the Relevant Period, 於有關期間，銷售成本為
8,800,000元，較去年
representing an increase of $1.2 million or 16.1% as compared to 同期的
7,500,000元增加
1,200,000元或
16.1%。
$7.5 million in the Previous Period. The overall increase in cost of 銷售成本整體增加，乃由於紙漿價格增加所致。
sales was due to the increase in paper pulp price.
2019年第三季度業績報告 / 日光（1977）控股有限公司11
MANAGEMENT DISCUSSION AND ANALYSIS
管理層討論及分析
FINANCIAL REVIEW (Continued) 財務回顧（續）
Distribution expenses 分銷開支
Distribution expenses amounted to $1.1 million in the Relevant 於有關期間，分銷開支為
1,100,000元，較去年
Period, representing an increase of $0.2 million or 18.1% as 同期的
900,000元增加
200,000元或
18.1%。增
compared to $0.9 million in the Previous Period. The increase was 幅主要由於整體薪金上升、支付銷售團隊的佣金
primarily attributable to overall increase in salaries, the commissions 及向客戶交付產品的成本增加所致，而分銷開支
paid to the sales team and increase in cost of delivery of products to 增加與整體收益增加相符。
customers, which is in line with the overall increase in revenue.
Administrative expenses 行政開支
Administrative expenses amounted to $1.2 million in the Relevant 於有關期間，行政開支為
1,200,000元，較去年
Period, representing an increase of $0.4 million or 59.0% as 同期的
700,000元增加
400,000或59.0%。增幅
compared to $0.7 million in the Previous Period. The increase was 主要由於薪金及相關成本增加，以及上市後開支
primarily due to general increase in salaries and related costs, and 所致。
post Listing expenses.
Taxation 稅項
Taxation in the Relevant Period amounted to $0.1 million and in the 稅項於有關期間為
100,000元，去年同期則為
Previous Period amounted to $0.2 million, based on the forecast 200,000元，分別按
2018財政年度及
2019財政
estimated chargeable income for FY2019 and FY2018, respectively. 年度的估計應課稅收入預測。
Profit for the period 期內溢利
Profit attributable to Shareholders was $0.2 million in the Relevant 於有關期間，股東應佔溢利為
200,000元。去年
Period. In the Previous Period, the loss of $1.6 million included a one同
期的虧損
1,600,000元包括一次性上市開支
off Listing expenses of $2.3 million. Excluding the one-off Listing 2,300,000元。經扣除一次性上市開支，去年同
expenses, the profit attributable to Shareholders in the Previous 期股東應佔溢利為
700,000元。有關期間的溢利
Period was $0.7 million. The profit in the Relevant Period represents a 較去年同期減少
500,000元。
decrease of $0.5 million against the Previous Period.
12 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
CORPORATE GOVERNANCE AND OTHER INFORMATION
企業管治及其他資料
DIRECTORS』 AND CHIEF EXECUTIVES』
INTERESTS AND/OR SHORT POSITIONS IN THE
SHARES, UNDERLYING SHARES AND
DEBENTURES OF THE COMPANY OR ANY
ASSOCIATED CORPORATION
As at the end of the Relevant Period, interests or short positions of
the Directors and chief executives of the Company in the shares,
underlying shares and debentures of the Company or any of its
associated corporations (within the meaning of Part XV of the SFO) as
recorded in the register required to be kept under section 352 of the
SFO, or as otherwise notified to the Company and the Stock
Exchange pursuant to Rules 5.46 to 5.67 of the GEM Listing Rules,
were as follows:
Long positions in the Shares:
董事及主要行政人員於本公司或任
何相聯法團的股份、相關股份及債
權證的權益及╱或淡倉
於有關期間末，本公司董事及主要行政人員於本
公司或其任何相聯法團（定義見證券及期貨條例
第
XV部）的股份、相關股份及債權證中，擁有已
記錄於根據證券及期貨條例第
352條所須存置登
記冊，或根據
GEM上市規則第
5.46至5.67條知
會本公司及聯交所的權益或淡倉如下：
於股份的好倉：
Number of
underlying Approximate
Number of shares held Total number percentage of
Shares held under equity of Shares the total issued
Name Capacity Nature of interests (Note 1) derivatives interested Share (%)
以股本衍生已發行股份
所持股份數目工具所持相關擁有權益的總數概約百分比
姓名身分權益性質（附註
1）股份數目股份總數(%)
Mr. Chua Liang Sie (Note 2)A concert party to an agreement Deemed Interest576,000,000 (L) – 576,000,000 72
蔡良聲先生（附註
2）
to buy shares described in 視作持有權益
s.317(1)(a) of the SFO
證券及期貨條例第
317(1)(a)條
所述購股協議的一致行動人士
Ms. Chua Joo Gek (Note 2)A concert party to an agreement Deemed Interest576,000,000 (L) – 576,000,000 72
蔡瑜玉女士（附註
2）
to buy shares described in 視作持有權益
s.317(1)(a) of the SFO
證券及期貨條例第
317(1)(a)條
所述購股協議的一致行動人士
Mr. Chua Liang Chui (Note 2)
蔡良書先生（附註
2）
A concert party to an agreement
to buy shares described in
Deemed Interest
視作持有權益
576,000,000 (L) – 576,000,000 72s.317(1)(a) of the SFO
證券及期貨條例第
317(1)(a)條
所述購股協議的一致行動人士
2019年第三季度業績報告 / 日光（1977）控股有限公司 13
CORPORATE GOVERNANCE AND OTHER INFORMATION
企業管治及其他資料
DIRECTORS』 AND CHIEF EXECUTIVES』
INTERESTS AND/OR SHORT POSITIONS IN THE
SHARES, UNDERLYING SHARES AND
DEBENTURES OF THE COMPANY OR ANY
ASSOCIATED CORPORATION (Continued)
Long positions in the Shares: (Continued)
Notes:
1.
The letter 「L」 denotes a person’s 「long position」 (as defined under Part
XV of the SFO) in such Shares.
2.
YJH Group Limited is owned as to approximately 37.93% by Mr. Chua
Liang Sie, 17.24% by Ms. Chua Joo Gek, 17.24% by Mr. Chua Liang
Chui and 27.59% by Mr. Pang Fook Kiau. On 11.10.2017, Mr. Chua
Liang Sie, Ms. Chua Joo Gek, Mr. Chua Liang Chui and Mr. Pang Fook
Kiau entered into a concert parties agreement. As such, they were
deemed as controlling YJH Group Limited as a group and were
deemed to have interests in the Shares held by YJH Group Limited
respectively. For details, see 「History, Reorganisation and Corporate
Structure — Concert parties arrangement」 in the Prospectus.
Save as disclosed above, as at the end of the Relevant Period, none
of the Directors nor chief executive of the Company had registered an
interest or short position in the shares, underlying shares or
debentures of the Company or any of its associated corporations
(within the meaning of Part XV of the SFO) which had been recorded
in the register kept by the Company pursuant to Section 352 of the
SFO or as otherwise notified to the Company and the Stock
Exchange pursuant to Rules 5.46 to 5.67 of the GEM Listing Rules.
董事及主要行政人員於本公司或任
何相聯法團的股份、相關股份及債
權證的權益及╱或淡倉（續）
於股份的好倉：（續）
附註：
1.
「L」指該人士於該等股份的「好倉」（定義見證券
及期貨條例第
XV部）。
2.
YJH Group Limited由蔡良聲先生、蔡瑜玉女士、
蔡良書先生及彭福添先生分別擁有約
37.93%、
17.24%、17.24%及
27.59%。於
2017年
10月
11
日，蔡良聲先生、蔡瑜玉女士、蔡良書先生及彭
福添先生訂立一致行動人士協議。因此，彼等分
別被視為共同控制
YJH Group Limited及被視為
於
YJH Group Limited所持股份中擁有權益。詳
情請參閱招股章程「歷史、重組及公司架構
—一
致行動人士安排」。
除上文披露者外，於有關期間末，概無本公司董
事或主要行政人員就於本公司或其任何相聯法團
（定義見證券及期貨條例第
XV部）的股份、相關
股份或債權證中，擁有記錄於本公司根據證券及
期貨條例第
352條所存置登記冊或根據
GEM上市
規則第
5.46至
5.67條知會本公司及聯交所的權益
或淡倉而進行登記。
14
SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
CORPORATE GOVERNANCE AND OTHER INFORMATION
企業管治及其他資料
SUBSTANTIAL SHAREHOLDERS』 INTERESTS 主要股東於本公司股份及相關股份
AND/OR SHORT POSITIONS IN THE SHARES 的權益及╱或淡倉
AND UNDERLYING SHARES OF THE COMPANY
As at the end of the Relevant Period, other than the Directors and 於有關期間末，除本公司董事及主要行政人員
chief executive of the Company, the following persons/entities have 外，以下人士╱實體於本公司股份或相關股份中
an interest or a short position in the Shares or the underlying Shares 擁有記錄於根據證券及期貨條例第
336條本公司
of the Company as recorded in the register of the Company required 須予存置的登記冊的權益或淡倉：
to be kept under section 336 of the SFO:
Long position in the Shares: 於股份的好倉：
Name Capacity Nature of interests
Number of
Shares held
(Note 1)
Number of
underlying
shares held
under equity
derivatives
Total number
of Shares
interested
Approximate
percentage of
the total issued
Share (%)
以股本衍生已發行股份
所持股份數目工具所持相關擁有權益的總數概約百分比
姓名身分權益性質（附註
1）股份數目股份總數(%)
Mr. Pang Fook Kiau (Note 2)A concert party to an agreement Deemed Interest576,000,000 (L) – 576,000,000 72
彭福添先生（附註
2）
to buy shares described in 視作持有權益
s.317(1)(a) of the SFO
證券及期貨條例第
317(1)(a)條
所述購股協議的一致行動人士
YJH Group Limited Beneficial owner Beneficial Interest 576,000,000 (L) – 576,000,000 72
YJH Group Limited實益擁有人實益持有權益
Notes:
附註：
1.
The letter 「L」 denotes a person’s 「long position」 (as defined under Part 1.「L」指該人士於該等股份的「好倉」（定義見證券
XV of the SFO) in such Shares. 及期貨條例第
XV部）。
2.
YJH Group Limited is owned as to approximately 37.93% by Mr. Chua 2. YJH Group Limited由蔡良聲先生、蔡瑜玉女士、
Liang Sie, 17.24% by Ms. Chua Joo Gek, 17.24% by Mr. Chua Liang 蔡良書先生及彭福添先生分別擁有約
37.93%、
Chui and 27.59% by Mr. Pang Fook Kiau. On 11.10.2017, Mr. Chua 17.24%、17.24%及
27.59%。於
2017年
10月
11Liang Sie, Ms. Chua Joo Gek, Mr. Chua Liang Chui and Mr. Pang Fook 日，蔡良聲先生、蔡瑜玉女士、蔡良書先生及彭
Kiau entered into a concert parties agreement. As such, they were 福添先生訂立一致行動人士協議。因此，彼等分
deemed as controlling YJH Group Limited as a group and were 別被視為共同控制
YJH Group Limited及被視為
deemed to have interests in the Shares held by YJH Group Limited 於
YJH Group Limited所持股份中擁有權益。詳
respectively. For details, see 「History, Reorganisation and Corporate 情請參閱招股章程「歷史、重組及公司架構
—一
Structure — Concert parties arrangement」 in the Prospectus.致行動人士安排」。
2019年第三季度業績報告 / 日光（1977）控股有限公司 15
CORPORATE GOVERNANCE AND OTHER INFORMATION
企業管治及其他資料
SUBSTANTIAL SHAREHOLDERS』 INTERESTS 主要股東於本公司股份及相關股份
AND/OR SHORT POSITIONS IN THE SHARES 的權益及
╱或淡倉（續）
AND UNDERLYING SHARES OF THE COMPANY
(Continued)
Save as disclosed above, as at the end of the Relevant Period and so 除上文披露者外，於有關期間末及據董事所知，
far as known to the Directors, no person, other than the Directors and 並無人士（其權益載列於上文「董事及主要行政人
chief executive of the Company whose interests are set out in the 員於股份、相關股份及債權證的權益及淡倉」的
section 「Directors』 and Chief Executives』 Interests and Short Position 本公司董事及主要行政人員除外）告知本公司彼
in Shares, Underlying Shares and Debentures」 above, had notified 等於本公司股份或相關股份中持有須紀錄於根據
the Company of an interest or short position in the Shares or 證券及期貨條例第
336條須存置的登記冊的權益
underlying Shares of the Company which had been required to be 或淡倉。
recorded in the register required to be kept by the Company pursuant
Section 336 of the SFO.
SHARE OPTION SCHEME 購股權計劃
No share option has been granted under the Share Option Scheme 自採納以來，並無根據購股權計劃授出購股權。
since its adoption.
DIRECTORS』 RIGHTS TO ACQUIRE SHARES 董事購買股份的權利
Save for the Share Options Scheme, at no time from the Listing Date 除購股權計劃外，本公司於上市日期起至本報告
to the date of this report were rights to acquire benefits by means of 日期期間任何時間概無授予任何董事或彼等各自
the acquisition of shares in or debentures of the Company granted to 的配偶或
18歲以下子女可藉購入本公司股份或債
any Directors or their respective spouse or children under 18 years of 權證而獲益的權利，或彼等亦無行使該等權利，
age, or were any such rights exercised by them, or was the 或本公司、其控股公司或其任何附屬公司及同系
Company, its holding company, or any of its subsidiaries and fellow 附屬公司亦無訂立任何安排致使董事可購入任何
subsidiaries a party to any arrangement to enable the Directors to 其他法人團體的該等權利。
acquire such rights in any other body corporate.
16 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
CORPORATE GOVERNANCE AND OTHER INFORMATION
企業管治及其他資料
PURCHASE, SALE OR REDEMPTION OF LISTED 購買、出售或贖回本公司上巿證券
SECURITIES OF THE COMPANY
During the Relevant Period, the Company did not redeem any of its 於有關期間，本公司並無贖回其任何上市證券，
listed securities nor did the Company or any of its subsidiaries 本公司或其任何附屬公司並無購買或出售本公司
purchase or sell any of the Company’s listed securities. 任何上巿證券。
COMPLIANCE OF CODE OF CONDUCT FOR 遵守董事進行證券交易的行為守則
DIRECTORS』 SECURITIES TRANSACTIONS
The Company has adopted the Required Standard of Dealings. 本公司已採用交易必守標準。向全體現任董事作
Having made specific enquiry of all the current Directors, all the 出具體查詢後，全體現任董事確認彼等於有關期
current Directors confirmed that they have complied with the 間遵守交易必守標準。
Required Standard of Dealings during the Relevant Period.
NON-COMPETITION UNDERTAKING 不競爭承諾
In order to maintain a clear delineation of the businesses between our 為保證本集團與控股股東之間的業務劃分明確，
Group and our Controlling Shareholders, the latter have entered into 控股股東已訂立以本公司（為其本身及不時作為
the Deed of Non-competition in favour of our Company (for ourselves 我們各附屬公司的受託人）為受益人的不競爭契
and as trustee for each of our subsidiaries from time to time) to the 據，據此，彼等均不會並將促使彼等各自的緊密
effect that each of them will not, and will procure each of their 聯繫人不會直接或間接參與任何可能與我們的業
respective close associates not to, directly or indirectly participate in, 務構成競爭的業務或於其中持有任何權利或權
or hold any right or interest, or otherwise be involved in any business 益，或以其他方式從事任何有關業務。
which may be in competition with our businesses.
COMPETING INTERESTS 競爭利益
During the Relevant Period, so far as the Directors are aware, none of 於有關期間，據董事所悉，概無董事及控股股東
the Directors and Controlling Shareholders, neither themselves nor 自身或彼等各自的緊密聯繫人在與本集團業務構
their respective close associates, had held any position or had 成或可能構成重大競爭的任何業務或公司中擔任
interests in any businesses or companies that were materially 任何職位或擁有權益，或引起任何與利益衝突有
competing or might materially compete with the business of the 關的顧慮。
Group, or gave rise to any concern regarding conflict of interest.
2019年第三季度業績報告 / 日光（1977）控股有限公司17
CORPORATE GOVERNANCE AND OTHER INFORMATION
企業管治及其他資料
INTERESTS OF THE COMPLIANCE ADVISER
As at the end of the Relevant Period, as notified by the Company’s
compliance adviser, Giraffe Capital Limited (the 「Compliance
Adviser」), except for the compliance adviser agreement entered into
between the Company and the Compliance Adviser dated 9.11.2017,
neither the Compliance Adviser nor any of its directors, employees or
close associates had any interest in the Group which is required to be
notified to the Company pursuant to Rule 6A.32 of the GEM Listing
Rules.
CORPORATE GOVERNANCE CODE
The Company has adopted and complied with, where applicable, the
CG Code to ensure that the Group’s business activities and decision
making processes are regulated in a proper and prudent manner,
save for the deviation stipulated below.
Code Provision A.2.1 of the CG Code provides that the roles of
chairman and chief executive should be separate and should not be
performed by the same individual. Mr. LS Chua is the chairman of our
Board and also the chief executive officer of our Company. Since
February 1990, Mr. LS Chua has been the key leadership figure of
our Group who has been primarily involved in the formulation of
business strategies and determination of the overall direction of our
Group. He is also responsible for overseeing our Group’s operations
and directly supervises our senior management. Having considered
that (i) Mr. LS Chua’s contribution and familiarity with the operations
of our Group which is beneficial to the management and business
development of our Group, (ii) major decisions are made in
consultation with members of the Board and relevant Board
committees, and (iii) there are three independent non-executive
Directors on our Board offering independent perspectives, our Board
is of the view that there is an appropriate balance of powers and
authorities between our Board and the management of our Company
and that it is in the interest of our Group to have Mr. LS Chua to
continue taking up both roles. Our Board will continue to review and
consider separation of the roles of the chairman of our Board and the
chief executive officer as and when appropriate by taking into account
the circumstances of our Group as a whole.
合規顧問的權益
於有關期間末，誠如本公司合規顧問智富融資有
限公司（「合規顧問」）所告知，除本公司與合規顧
問所訂立日期為
2017年
11月9日的合規顧問協
議外，合規顧問或其任何董事、僱員或緊密聯繫
人概無於本集團擁有根據
GEM上市規則第
6A.32
條須知會本公司的任何權益。
企業管治守則
本公司已採納並遵守（如適用）企業管治守則，確
保本集團的業務活動及決策過程受到妥善及審慎
規管，惟下述偏離情況除外。
企業管治守則的守則條文
A.2.1規定，主席與行
政總裁之角色應有區分，不應由一人同時兼任。
蔡良聲先生為董事會主席兼本公司行政總裁。自
1990年
2月起，蔡良聲先生一直為本集團的關鍵
領導人物，主要參與制訂本集團業務策略及釐定
整體方針。彼亦負責監管本集團營運及直接監督
高級管理層。考慮到
(i)蔡良聲先生對本集團所作貢
獻及熟悉本集團營運有利於本集團管理及業務發
展，
(ii)重大決策均在諮詢董事會及相關董事委員
會成員後作出，及
(iii)董事會有三名獨立非執行董
事可提供獨立觀點，故董事會認為董事會與本公
司管理層之間權力及授權平衡得宜，並相信蔡良
聲先生繼續身兼兩職符合本集團利益。董事會將
持續檢討並考慮於顧及本集團整體情況屬適當時
分拆董事會主席與行政總裁的職務。
18 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
CORPORATE GOVERNANCE AND OTHER INFORMATION
企業管治及其他資料
AUDIT COMMITTEE 審核委員會
As at the date of this report, the Audit Committee consists of three 於本報告日期，審核委員會由三名獨立非執行董
independent non-executive Directors, namely Ms. Lye Kheng Joke 事組成，當中包括具備合適核數及財政相關管理
Sylvia, who has the appropriate auditing and financial related 專業知識的黎瓊玉女士，以及
Tan Heng Thye先
management expertise serving as the chairperson of the Audit 生及黃文昭先生，並由黎瓊玉女士出任審核委員
Committee, Mr. Tan Heng Thye and Mr. Ng Boon Cheow Freddie. 會主席。審核委員會已審閱本集團於有關期間的
The Audit Committee has reviewed the unaudited condensed 未經審核簡明綜合財務報表及本報告。
consolidated financial statements of the Group for the Relevant
Period and this report.
FORWARD LOOKING STATEMENTS 前瞻性陳述
This report contains forward looking statements with respect to the 本報告載有關於本集團財務狀況、營運業績及業
financial conditions, results of operations and business of the Group. 務之前瞻性陳述。該等前瞻性陳述為本公司對未
These forward looking statements represent the Company’s 來事件之預期或信念，並涉及已知及未知之風險
expectations or beliefs concerning future events and involve known 及不明朗因素，該等風險及不明朗因素可能導致
and unknown risks and uncertainty that could cause actual results, 實際業績、表現或事件與於該等陳述內表述或表
performance or events to differ materially from those expressed or 明者顯著不同。
implied in such statements.
By order of the Board 承董事會命
Sunlight (1977) Holdings Limited 日光
(1977)控股有限公司
Chua Liang Sie 執行董事、主席兼行政總裁
Executive Director, Chairman & Chief Executive Officer 蔡良聲
Singapore, 6.8.2019 新加坡，
2019年
8月
6日
As at the date of this report, the Board comprises Mr. Chua Liang Sie 於本報告日期，董事會成員包括執行董事蔡良聲
(Chairman), Ms. Chua Joo Gek, Mr. Chua Liang Chui and Mr. Chua 先生（主席）、蔡瑜玉女士、蔡良書先生及蔡文浩
Wenhao (alias Cai Wenhao) as executive Directors; and Mr. Tan Heng 先生，以及獨立非執行董事
Tan Heng Thye先生、
Thye, Mr. Ng Boon Cheow Freddie and Ms. Lye Kheng Joke Sylvia 黃文昭先生及黎瓊玉女士。
as independent non-executive Directors.
2019年第三季度業績報告 / 日光（1977）控股有限公司19
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
In this report, the following expressions shall have the meanings set out below unless the context requires otherwise.
在本報告中，除非文義另有所指，下列詞語具有如下含義。
「2018Q3」
the nine months ended 30.6.2018
「2018年第三季度」截至
2018年
6月
30日止九個月
「2019Q3」
the nine months ended 30.6.2019
「2019年第三季度」截至
2019年
6月
30日止九個月
「Articles」 or 「Articles of Association」 articles of association of our Company adopted on 21.3.2018 and which
became effective on the Listing Date, as amended from time to time
「細則」或「組織章程細則」於2018年3月21日採納及於上市日期起生效的本公司組織章程細則（經不時修訂）
「associate(s)」 has the meaning ascribed to it under the GEM Listing Rules
「聯繫人」具有
GEM上市規則賦予的涵義
「Audit Committee」 the audit committee of our Board, established on 21.3.2018 with written
terms of reference in compliance with Code Provision C.3.3 of the CG Code
「審核委員會」董事會轄下審核委員會，於
2018年
3月
21日成立，並按企業管治守則第
C.3.3
條守則條文的規定製訂其書面職權範圍
「Board of Directors」 or 「Board」
the board of Directors of our Company
「董事會」
本公司董事會
「BVI」
the British Virgin Islands
「英屬處女群島」
英屬處女群島
「CG Code」 the Corporate Governance Code as set out in Appendix 15 to the GEM
Listing Rules
「企業管治守則」
GEM上市規則附錄十五所載《企業管治守則》
「China」 or 「PRC」
the People’s Republic of China, which for the purpose of this report and for
geographical reference only, excludes Hong Kong, Macau and Taiwan
「中國」中華人民共和國，就本報告而言及僅供地理參考而言，不包括香港、澳門及臺
灣
20 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
「close associate(s)」 has the meaning ascribed to it under the GEM Listing Rules
「緊密聯繫人」具有
GEM上市規則所賦予的涵義
「Companies Ordinance」 the Companies Ordinance (Cap. 622 of the Laws of Hong Kong), as
amended, supplemented or modified from time to time
「公司條例」經不時修訂、補充或修改的香港法例第
622章公司條例
「Company」, 「our Company」, 「we」 or 「us」
Sunlight (1977) Holdings Limited (日光
(1977) 控股有限公司
), an exempted
company incorporated in the Cayman Islands on 21.9.2017 with limited
liability
「本公司」或「我們」日光
(1977)控股有限公司，於
2017年9月
21日在開曼群島註冊成立的獲豁免有
限公司
「Controlling Shareholder(s)」
has the meaning ascribed to it under the GEM Listing Rules and unless the
context requires otherwise, refers to Mr. LS Chua, Ms. Chua, Mr. LC Chua,
Mr. Pang and YJH Group. Mr. LS Chua, Ms. Chua, Mr. LC Chua, Mr. Pang
and YJH Group are a group of controlling shareholders
「控股股東」具有
GEM上市規則賦予的涵義，除非文義另有所指，指蔡良聲先生、蔡女士、
蔡良書先生、彭先生及
YJH集團。蔡良聲先生、蔡女士、蔡良書先生、彭先生
及
YJH集團為一組控股股東
「core connected person(s)」 has the meaning ascribed to it under the GEM Listing Rules
「核心關連人士」具有
GEM上市規則賦予的涵義
「Deed of Non-competition」
the deed of non-competition dated 21.3.2018 and executed by our
Controlling Shareholders in favour of our Company (for ourselves and as
trustee for our subsidiaries)
「不競爭契據」控股股東以本公司為受益人（為本公司及作為其附屬公司的受託人）所簽立日期
為
2018年
3月
21日的不競爭契據
「Director(s)」
the director(s) of our Company
「董事」
本公司董事
2019年第三季度業績報告 / 日光（1977）控股有限公司 21
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
「ERP」 enterprise resource planning
「ERP」企業資源計劃
「FY2018」 financial year ended 30.9.2018
「2018財政年度」截至
2018年
9月
30日止財政年度
「FY2019」 financial year ending 30.9.2019
「2019財政年度」截至
2019年
9月
30日止財政年度
「GDP」 gross domestic product
「本地生產總值」本地生產總值
「GEM」 GEM operated by the Stock Exchange
「GEM」由聯交所運作的
GEM
「GEM Listing Rules」 the Rules Governing the Listing of Securities on GEM, as amended,
supplemented or modified from time to time
「GEM上市規則」經不時修訂、補充或修改的
GEM證券上市規則
「GFA」 gross floor area
「建築面積」建築面積
「Group」, 「our Group」, 「we」, 「our」 or 「us」 our Company and our subsidiaries or, where the context so requires, with
respect to the period before which our Company became the holding
company of our current subsidiaries, our Company’s current subsidiaries or
the businesses operated by such subsidiaries or their predecessors (as the
case may be)
「本集團」或「我們」本公司及其附屬公司，或倘文義另有所指，就本公司成為其現有附屬公司的控
股公司之前期間，則指本公司現有附屬公司或該等附屬公司或其前身公司（視
情況而定）進行的業務
22 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
「HKD」 or 「HK$」 Hong Kong dollars and cents, the lawful currency of Hong Kong
「港元」香港法定貨幣港元及港仙
「Hong Kong」 or 「HK」 the Hong Kong Special Administrative Region of the PRC
「香港」中國香港特別行政區
「IFRSs」 International Financial Reporting Standards issued by the International
Accounting Standards Board
「國際財務報告準則」國際會計準則委員會頒佈的國際財務報告準則
「independent third party(ies)」 party(ies) which are not connected person(s) of our Company
「獨立第三方」並非本公司關連人士的人士
「JTC」 JTC Corporation (formerly known as Jurong Town Corporation), a statutory
board under the Ministry of Trade and Industry of Singapore
「JTC」
JTC Corporation（前稱
Jurong Town Corporation），新加坡貿易工業部下屬法定
部門
「jumbo roll tissue」 or 「JRT」 toilet tissue that is commonly used in public toilet cubicles of commercial
buildings
「大卷裝衛生紙」商業大廈公廁常用廁紙
「Listing」 the listing of the Shares on GEM
「上市」股份於
GEM上市
「Listing Date」 16.4.2018, the date on which the Shares are listed on GEM
「上市日期」
2018年
4月
16日，股份於
GEM上市的日期
2019年第三季度業績報告 / 日光（1977）控股有限公司 23
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
「Main Board」
「主板」
the stock exchange (excluding the option market) operated by the Stock
Exchange which is independent from and operated in parallel with GEM. For
the avoidance of doubt, the Main Board excludes GEM
聯交所營運的股票市場（不包括期權市場），獨立於聯交所
GEM並與其並行運
作。為免混淆，主板不包括
GEM
「Memorandum」 or 「Memorandum of
Association」
「大綱」或「組織章程大綱」
memorandum of association of our Company adopted on 21.3.2018 and
which became effective on the Listing Date, as amended from time to time
本公司於
2018年
3月
21日採納的組織章程大綱，自上市日期起生效，經不時
修訂
「Mr. LC Chua」
「蔡良書先生」
Mr. Chua Liang Chui (蔡良書先生), an executive Director, one of our Controlling
Shareholders, the younger brother of Ms. Chua and Mr. LS Chua and uncle of
Mr. WH Chua
執行董事兼其中一名控股股東蔡良書先生，為蔡女士及蔡良聲先生的胞弟及蔡
文浩先生的叔父
「Mr. LS Chua」
「蔡良聲先生」
Mr. Chua Liang Sie (蔡良聲先生
), an executive Director, chairman of our
Board and chief executive officer of our Company and one of our Controlling
Shareholders, the younger brother of Ms. Chua and elder brother of Mr. LC
Chua, and the father of Mr. WH Chua
執行董事、董事會主席、行政總裁兼其中一名控股股東蔡良聲先生，為蔡女士
的胞弟、蔡良書先生的胞兄及蔡文浩先生的父親
「Mr. Pang」
「彭先生」
Mr. Pang Fook Kiau (alias Ang Fook Tiam) (彭福添先生
), one of the founders
of our Group and one of our Controlling Shareholders
本集團其中一名創辦人兼其中一名控股股東彭福添先生（又名
Ang Fook Tiam）
「Mr. WH Chua」
「蔡文浩先生」
Mr. Chua Wenhao (alias Cai Wenhao) (蔡文浩先生
), an executive Director,
the son of Mr. LS Chua and the nephew of Ms. Chua and Mr. LC Chua
執行董事蔡文浩先生，為蔡良聲先生的兒子以及蔡女士及蔡良書先生的侄兒
「Ms. Chua」
「蔡女士」
Ms. Chua Joo Gek (蔡瑜玉女士
), an executive Director, one of our Controlling
Shareholders, the elder sister of Mr. LS Chua and Mr. LC Chua and the aunt
of Mr. WH Chua
執行董事兼其中一名控股股東蔡瑜玉女士，為蔡良聲先生及蔡良書先生的胞姊
及蔡文浩先生的姑母
24 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
「MYR」 or 「RM」 Malaysian dollars and cents, the lawful currency of Malaysia
「馬來西亞令吉」馬來西亞法定貨幣馬來西亞元及仙
「Nomination Committee」 the nomination committee of our Board, established on 21.3.2018 with
written terms of reference in compliance with Code Provision A.5.2 of the CG
Code
「提名委員會」董事會轄下的提名委員會，於
2018年3月21日成立，並按企業管治守則第
A.5.2
條守則條文的規定製訂其書面職權範圍
「p.a.」 per annum or per year
「每年」每年
「paper pulp」 or 「pulp」 the raw material used to produce tissue paper, which includes recycle pulp,
soft wood pulp, hard wood pulp, virgin pulp, fluff pulp and mixed pulp
「紙漿」生產衛生紙所用原材料，包括回收紙漿、軟木紙漿、硬木紙漿、原生紙漿、絨
毛漿及混合紙漿
「Previous Period」 nine months ended 30.6.2018
「去年同期」截至
2018年
6月
30日止九個月
「Prospectus」 the prospectus of the Company dated 27.3.2018
「招股章程」本公司日期為
2018年
3月
27日的招股章程
「Relevant Period」
nine months ended 30.6.2019
「有關期間」截至
2019年
6月
30日止九個月
「Remuneration Committee」 the remuneration committee of our Board, established on 21.3.2018 with
written terms of reference in compliance with Code Provision B.1.2 of the CG
Code
「薪酬委員會」董事會轄下的薪酬委員會，於
2018年3月21日成立，並按企業管治守則第
B.1.2
條守則條文的規定製訂其書面職權範圍
「Renminbi」 or 「RMB」 the lawful currency of the PRC
「人民幣」中國法定貨幣
2019年第三季度業績報告 / 日光（1977）控股有限公司 25
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
「Reorganisation」 the corporate reorganisation of our Group in preparation for the Listing as
described under the section 「History, Reorganisation and Corporate
Structure — Reorganisation」 of the Prospectus
「重組」本集團為籌備上市而進行的公司重組，詳情載於招股章程「歷史、重組及公司
架構
—重組」一節
「Required Standard of Dealings」 the required standard of dealings regarding securities transactions by the
Directors as set out in Rules 5.48 to 5.67 of the GEM Listing Rules
「交易必守標準」
GEM上市規則第
5.48至
5.67條所載董事進行證券交易的交易必守標準
「Restricted Business」 any business and related business activities engaged by our Group
「受限制業務」本集團從事的任何業務及相關業務活動
「SFO」
the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) as
amended, supplemented or modified from time to time
「證券及期貨條例」證券及期貨條例（香港法例第
571章），經不時修訂、補充及修改
「S$」 or 「SGD」 or 「$」 Singapore dollar(s), the lawful currency of Singapore
「坡元」或「新加坡元」或「元」新加坡法定貨幣新加坡元
「Share(s)」 ordinary share(s) of par value HK$0.01 each in the share capital of our
Company
「股份」本公司股本中每股面值
0.01港元的普通股
「Shareholder(s)」 holder(s) of Shares
「股東」股份持有人
「Share Offer」 the public offer and placing of Shares in connection with the Listing
「股份發售」為上市公開發售及配售股份
26 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
「Share Option Scheme」 the share option scheme conditionally adopted by our Company on
21.3.2018, a summary of principal terms of which is set out in 「E. Share
Option Scheme」 in Appendix V to the Prospectus
「購股權計劃」本公司於
2018年3月
21日有條件採納的購股權計劃，其主要條款概要載於招
股章程附錄五「
E.購股權計劃」
「Singapore」 the Republic of Singapore
「新加坡」新加坡共和國
「SPP Investments」 SPP Investments Limited, a company incorporated in BVI with limited liability
on 6.10.2017 and a direct wholly-owned subsidiary of our Company
「SPP Investments」
SPP Investments Limited，於
2017年
10月
6日在英屬處女群島註冊成立的有限
公司，為本公司的直接全資附屬公司
「sq.m.」 square metre(s)
「平方米」平方米
「Stock Exchange」 or 「SEHK」 The Stock Exchange of Hong Kong Limited
「聯交所」香港聯合交易所有限公司
「subsidiary(ies)」 has the meaning ascribed to it under the Companies Ordinance
「附屬公司」具有公司條例所賦予的涵義
「Substantial Shareholder(s)」 has the meaning ascribed thereto under the GEM Listing Rules
「主要股東」具有
GEM上市規則所賦予的涵義
「Sunlight Paper」 Sunlight Paper Products Pte. Ltd., a company incorporated in Singapore
with limited liability on 8.7.1977 and an indirect wholly-owned subsidiary of
our Company
「Sunlight Paper」
Sunlight Paper Products Pte. Ltd.，於
1977年7月8日在新加坡註冊成立的有限
公司，為本公司的間接全資附屬公司
「United States」 or 「U.S.」 the United States of America, its territories, its possessions and all areas
subject to its jurisdiction
「美國」美利堅合眾國、其領土、屬地及受其司法管轄的所有地區
「USD」 or 「US$」 United States dollars, the lawful currency of the United States
「USD」或「
US$」美國法定貨幣美元
2019年第三季度業績報告 / 日光（1977）控股有限公司 27
DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS
釋義及技術詞彙
「YJH Group」
YJH Group Limited, a company incorporated in BVI with limited liability on
31.8.2017, one of our Controlling Shareholders, and is owned as to
approximately 37.93% by Mr. LS Chua, 17.24% by Ms. Chua, 17.24% by
Mr. LC Chua and 27.59% by Mr. Pang
「YJH集團」
YJH Group Limited，於
2017年8月31日在英屬處女群島註冊成立的有限公司，
為其中一名控股股東，由蔡良聲先生、蔡女士、蔡良書先生及彭先生分別擁有
約
37.93%、17.24%、17.24%及
27.59%的股權
「%」 per cent
「%」百分比
Notes:
附註：
— all dates are shown in d/dd.m/mm.yyyy format
—所有英文日期均用日╱月╱年格式表示
— all figures shown in $’m, $ million, $』000 and % are approximates—所有百萬元、千元及百分比均為近似值
28 SUNLIGHT (1977) HOLDINGS LIMITED / Third Quarterly Report 2019
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