[HK]ITP HOLDINGS:2019/2020中期報告

[HK]ITP HOLDINGS:2019/2020中期報告

時間：2020年01月07日 20:15:48&nbsp中財網

原標題:ITP Holdings:2019/2020中期報告

(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: 8446

Interim Report

2019/2020中期報告

(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: 8446

Interim Report

2019/2020中期報告

CHARACTERISTICS OF GEM OF THE

STOCK EXCHANGE OF HONG KONG

LIMITED (THE 「STOCK EXCHANGE」)

GEM has been positioned as a market designed to accommodate

small and mid-sized companies to which a higher investment risk

may be attached than other companies listed on the Stock

Exchange. Prospective investors should be aware of the potential

risks of investing in such companies and should make the decision

to invest only after due and careful consideration.

Given that the companies listed on GEM are generally small and

mid-sized companies, there is a risk that securities traded on GEM

may be more susceptible to high market volatility than securities

traded on the Main Board 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 take

no responsibility for the contents of this report, make no representation

as to its accuracy or completeness and expressly disclaim any liability

whatsoever for any loss howsoever arising from or in reliance upon the

whole or any part of the contents of this report.

This report, for which the directors (the 「Directors」) of In Technical

Productions Holdings Limited (the 「Company」) collectively and

individually accept full responsibilities, includes particulars given in

compliance with the Rules Governing the Listing of Securities on GEM of

the Stock Exchange (the 「GEM Listing Rules」) for the purpose of giving

information with regard to the Company and its subsidiaries (together the

「Group」). The Directors, having made all reasonable enquiries, confirm

that, to the best of their knowledge and belief, the information contained

in this report is accurate and complete in all material respects and not

misleading or deceptive, and there are no other matters the omission of

which would make any statement herein or this report misleading.

香港聯合交易所有限公

司（「聯交所」）

GEM之特

色

GEM乃為較於聯交所上市的其他公司帶有

更高投資風險的中小型公司提供上市的市

場。潛在投資者應了解投資於該等公司的

潛在風險，並應經過審慎周詳的考慮後方

作出投資決定。

由於在GEM上市之公司一般為中小型公

司，在

GEM買賣的證券可能會較於主板買

賣的證券承受較大的市場波動風險，同時

亦無法保證在GEM買賣的證券會有高流通

量之市場。

香港交易及結算所有限公司及聯交所對本

報告的內容概不負責，對其準確性或完整

性亦不發表任何聲明，並明確表示概不就

因本報告全部或任何部分內容而產生或因

倚賴該等內容而引致的任何損失承擔任何

責任。

本報告載有遵照聯交所

GEM證券上市規則

（「GEM上市規則」）而提供有關In Technical

Productions Holdings Limited（「本公司」）及其

附屬公司（統稱「本集團」）的資料；本公司董

事（「董事」）就本報告共同及個別承擔全部

責任。董事在作出一切合理查詢後確認，就

彼等所深知及確信，本報告所載資料在各

重大方面均屬準確及完整，並無誤導或欺

詐成分，且並無遺漏任何其他事宜，致使當

中任何陳述或本報告產生誤導。

CORPORATE INFORMATION

BOARD OF DIRECTORS

Executive Directors

Mr. Yeung Ho Ting Dennis (Chairman)

Mr. Tam Chun Yu

Independent non-executive Directors

Mr. Li Kai Sing

Mr. Ma Tsz Chun

Ms. Loh Lai Ping Phillis

AUDIT COMMITTEE

Mr. Li Kai Sing (Chairman)

Mr. Ma Tsz Chun

Ms. Loh Lai Ping Phillis

REMUNERATION COMMITTEE

Mr. Ma Tsz Chun (Chairman)

Mr. Li Kai Sing

Ms. Loh Lai Ping Phillis

NOMINATION COMMITTEE

Mr. Yeung Ho Ting Dennis (Chairman)

Mr. Li Kai Sing

Mr. Ma Tsz Chun

AUTHORISED REPRESENTATIVES (FOR THE

PURPOSES OF THE GEM LISTING RULES)

Mr. Yeung Ho Ting Dennis

Ms. Leung Yin Fai (HKICPA, ACCA, CPA Australia)

COMPLIANCE OFFICER

Mr. Yeung Ho Ting Dennis

COMPANY SECRETARY

Ms. Leung Yin Fai (HKICPA, ACCA, CPA Australia)

REGISTERED OFFICE IN CAYMAN ISLANDS

Estera Trust (Cayman) Limited

Clifton House, 75 Fort Street,

P.O. Box 1350, Grand Cayman,

KY1-1108, Cayman Islands

公司資料

董事會

執行董事

楊浩廷先生（主席）

譚震宇先生

獨立非執行董事

李啟承先生

馬時俊先生

羅麗萍女士

審核委員會

李啟承先生（主席）

馬時俊先生

羅麗萍女士

薪酬委員會

馬時俊先生（主席）

李啟承先生

羅麗萍女士

提名委員會

楊浩廷先生（主席）

李啟承先生

馬時俊先生

授權代表（就

GEM上市規則而言）

楊浩廷先生

梁燕輝女士（HKICPA、ACCA、CPA（澳洲））

合規主任

楊浩廷先生

公司秘書

梁燕輝女士（HKICPA、ACCA、CPA（澳洲））

開曼群島註冊辦事處

Estera Trust (Cayman) Limited

Clifton House, 75 Fort Street,

P.O. Box 1350, Grand Cayman,

KY1-1108, Cayman Islands

HEADQUARTERS AND PRINCIPAL PLACE OF

BUSINESS IN HONG KONG

Unit D2, 5/F, Hoi Bun Industrial Building,

6 Wing Yip Street, Kwun Tong,

Kowloon, Hong Kong

HONG KONG BRANCH SHARE REGISTER

Tricor Investor Services Limited

Level 22, Hopewell Centre,

183 Queen’s Road East,

Hong Kong

CAYMAN ISLANDS PRINCIPAL SHARE REGISTRAR

AND TRANSFER AGENT

Estera Trust (Cayman) Limited

Clifton House, 75 Fort Street,

P.O. Box 1350, Grand Cayman,

KY1-1108, Cayman Islands

COMPLIANCE ADVISER

Shenwan Hongyuan Capital (H.K.) Limited

Level 19, 28 Hennessy Road,

Hong Kong

AUDITOR

PricewaterhouseCoopers

Certified Public Accountants

22/F, Prince’s Building,

Hong Kong

LEGAL ADVISER

Sidley Austin

39/F, Two International Finance Centre,

Central, Hong Kong

PRINCIPAL BANKER

The Hongkong and Shanghai Banking Corporation Limited

1 Queen’s Road Central, Hong Kong

COMPANY WEBSITE

www.intechproductions.com

STOCK CODE

總部辦事處及香港主要營業地點

香港九龍

觀塘榮業街6號

海濱工業大廈5樓D2室

香港股份過戶登記分處

卓佳證券登記有限公司

香港

皇后大道東183號

合和中心22樓

開曼群島股份過戶登記總處

Estera Trust (Cayman) Limited

Clifton House, 75 Fort Street,

P.O. Box 1350, Grand Cayman,

KY1-1108, Cayman Islands

合規顧問

申萬宏源融資（香港）有限公司

香港

軒尼詩道28號19樓

核數師

羅兵鹹永道會計師事務所

執業會計師

香港

太子大廈22樓

法律顧問

盛德律師事務所

香港中環

國際金融中心二期39樓

主要往來銀行

香港上海滙豐銀行有限公司

香港皇后大道中1號

公司網址

www.intechproductions.com

股份代號

8446

FINANCIAL HIGHLIGHTS 財務概要

HIGHLIGHTS 概要

Six months ended 30 November

截至十一月三十日止六個月

2019

二零一九年

HK$』000

千港元

(unaudited)

（未經審核）

33,472

10,738

(5,684)

(0.71)

Revenue收益

Gross profit毛利

(Loss)/Profit for the period期內（虧損）╱溢利

Earnings/(loss) per share (HK Cents)每股盈利╱（虧損）（港仙）

.

The Group recorded an unaudited revenue of approximately

HK$33.4 million for the six months ended 30 November 2019,

representing a decrease of approximately 35.9% as compared with

that for the corresponding period in 2018.

.

The Group’s unaudited loss was approximately HK$5.7 million for

the six months ended 30 November 2019, representing a decrease

of approximately HK$20 million or approximately 139.6% as

compared with that for the corresponding period in 2018. The

decrease in profit for the six months ended 30 November 2019 was

primarily attributable to (i) the decrease in the number of pop

concerts undertaken by the Group and the decrease in the average

revenue per pop concert show undertaken by the Group leading to

a decrease in gross profit as compared to the same period in 2018; (ii)

the accrual of non-recurring professional expenses for the proposed

transfer of listing of the Company from GEM to the Main Board of

the Stock Exchange as referred to in the announcement of the

Company dated 19 August 2019; and (iii) local economic and social

uncertainties such as social unrest and related demonstrations in

Hong Kong during the Period.

.

The Board does not recommend the payment of dividend for the six

months ended 30 November 2019.

2018 Change

二零一八年變動

HK$』000

千港元

(unaudited)

（未經審核）

52,226 (35.9)%

27,681 (61.2)%

14,367 (139.6)%

1.79 (139.6)%

.

截至二零一九年十一月三十日止六個

月，本集團錄得未經審核收益約

33.4

百萬港元，較二零一八年同期減少約

35.9%。

.

截至二零一九年十一月三十日止六個

月，本集團未經審核虧損約為

5.7百萬

港元，較二零一八年同期減少約

20百

萬港元或約139.6%。截至二零一九年

十一月三十日止六個月之溢利減少主

要是由於(i)本集團承接的流行音樂演

唱會數量減少以及本集團承接的流行

音樂演唱會的場均收益減少，導致毛

利較二零一八年同期減少；

(ii)本公司

建議由聯交所GEM轉至主板上市（如

本公司日期為二零一九年八月十九日

的公告所述）產生的應計非經常性專

業費用；及

(iii)本期間香港本地社會不

穩定及相關遊行等經濟及社會不確定

性因素。

.

董事會不建議派付截至二零一九年

十一月三十日止六個月之股息。

UNAUDITED CONDENSED

CONSOLIDATED INTERIM RESULTS

FOR THE SIX MONTHS ENDED 30

NOVEMBER 2019

The board of Directors (the 「Board」) of the Company is pleased to

announce the unaudited condensed consolidated interim results of the

Company and its subsidiaries (collectively as the 「Group」) for the three

months and six months ended 30 November 2019 together with the

unaudited comparative figures for the corresponding periods in 2018, as

follows:

UNAUDITED CONDENSED CONSOLIDATED

STATEMENT OF PROFIT OR LOSS AND OTHER

COMPREHENSIVE INCOME

截至二零一九年十一月

三十日止六個月之未經

審核簡明綜合中期業績

本公司董事會（「董事會」）欣然宣佈截至二

零一九年十一月三十日止三個月及六個月

之本公司及其附屬公司（統稱「本集團」）未

經審核簡明綜合中期業績，連同二零一八

年同期之未經審核比較數字如下：

未經審核簡明綜合損益及其他全

面收入表

Three months ended Six months ended

30 November 30 November

截至十一月三十日止截至十一月三十日止

三個月六個月

2019 2018 2019 2018

二零一九年二零一八年二零一九年二零一八年

Notes HK$』000 HK$』000 HK$』000 HK$』000

附註千港元千港元千港元千港元

(Unaudited) (Unaudited) (Unaudited) (Unaudited)

（未經審核）（未經審核）（未經審核）（未經審核）

Revenue收益4 15,002 22,798 33,472 52,226

Cost of services服務成本5 (10,949) (11,630) (22,734) (24,545)

Gross profit毛利4,053 11,168 10,738 27,681

Other income其他收入105 9 194 9

Other gains and losses, net其他收益及虧損

淨額30 (52) 90 (52)

Administrative expenses行政開支5 (7,544) (5,328) (16,605) (10,395)

Operating (loss)/profit經營（虧損）╱溢利(3,356) 5,797 (5,583) 17,243

Finance income財務收入132 176 199 327

Finance costs財務成本(133) (142) (283) (297 )

Finance (costs)/income, net財務（成本）╱收入

淨額7 (1) 34 (84) 30

(Loss)/profit before income

tax

除所得稅前

（虧損）╱溢利(3,357) 5,831 (5,667) 17,273

Income tax expense所得稅開支90 (992 ) (17) (2,906 )

(Loss)/profit for the period期內（虧損）╱溢利10 (3,267) 4,839 (5,684) 14,367

2019 2018 2019 2018

二零一九年二零一八年二零一九年二零一八年

HK$』000 HK$』000 HK$』000 HK$』000

千港元千港元千港元千港元

(Unaudited) (Unaudited) (Unaudited) (Unaudited)

（未經審核）（未經審核）（未經審核）（未經審核）

(3,271) 4,822 (5,686) 14,338

4 17 2 29

(3,267) 4,839 (5,684) 14,367

— 3 — 3

(3,267) 4,842 (5,684) 14,370

(3,271) 4,827 (5,686) 14,343

4 15 2 27

(3,267) 4,842 (5,684) 14,370

(0.41) 0.60 (0.71) 1.79

2019 2018 2019 2018

二零一九年二零一八年二零一九年二零一八年

HK$』000 HK$』000 HK$』000 HK$』000

千港元千港元千港元千港元

(Unaudited) (Unaudited) (Unaudited) (Unaudited)

（未經審核）（未經審核）（未經審核）（未經審核）

(3,271) 4,822 (5,686) 14,338

4 17 2 29

(3,267) 4,839 (5,684) 14,367

— 3 — 3

(3,267) 4,842 (5,684) 14,370

(3,271) 4,827 (5,686) 14,343

4 15 2 27

(3,267) 4,842 (5,684) 14,370

(0.41) 0.60 (0.71) 1.79

Attributable to:

— Owners of the Company

— Non-controlling interests

Other comprehensive income:

Item that may be subsequently

reclassified to profit or loss

— Exchange difference on

translation of foreign

operations

Total comprehensive income/

(loss) for the periodAttributable to:

— Owners of the Company

— Non-controlling interests

Earnings/(loss) per share

attributable to the owners

of the Company

Basic and diluted (HK cents)

以下人士應佔：

—本公司擁有人

—非控股權益

其他全面收入：

其後可能重新分類

至損益的項目

—換算海外業務

之匯兌差額

期間全面收入╱

（虧損）總額

以下人士應佔：

—本公司擁有人

—非控股權益

本公司擁有人應佔

每股盈利╱（虧損）

基本及攤薄（港仙）

Three months ended Six months ended

30 November 30 November

截至十一月三十日止截至十一月三十日止

三個月六個月

Notes

附註

UNAUDITED CONDENSED CONSOLIDATED 未經審核簡明綜合財務狀況表

STATEMENT OF FINANCIAL POSITION

As at 30 November 2019 於二零一九年十一月三十日

30 November

2019

二零一九年

十一月三十日

HK$』000

千港元

(Unaudited)

（未經審核）

90,610

5,603

3,708

99,921

19,803

12,801

3,003

25,520

61,127

161,048

8,000

56,497

1,358

58,364

124,219

(240)

123,979

AssetsNon-current assets

Property, plant and equipmentDepositsRight-of-use assets

Current assets

Trade receivablesPrepayments, deposits and other receivables

Pledged short-term bank depositsCash and bank balances

Total assets

EquityCapital and reserves attributable to

the owners of the Company

Share capitalShare premiumOther reservesRetained earnings

Non-controlling interests

Total equity

Notes

附註

資產

非流動資產

物業、廠房及設備

11

按金

13

使用權資產

12

流動資產

貿易應收款項

13

預付款項、按金及其他應收

款項

13

已抵押短期銀行存款

現金及銀行結餘

資產總值

權益

本公司擁有人應佔股本及

儲備

股本

16

股份溢價

16

其他儲備

保留盈利

非控股權益

權益總額

31 May

2019

二零一九年

五月三十一日

HK$』000

千港元

(Audited)

（經審核）

76,993

13,482

—

90,475

25,055

13,067

3,016

28,839

69,977

160,452

8,000

56,497

1,358

64,050

129,905

(242)

129,663

30 November

2019

31 May

2019

二零一九年

十一月三十日

二零一九年

五月三十一日

Notes HK$』000 HK$』000

附註千港元千港元

(Unaudited) (Audited)

（未經審核）（經審核）

Liabilities負債

Non-current liabilities非流動負債

Deferred tax liabilities遞延稅項負債7,589 7,589

Lease liabilities租賃負債12 1,168 —

8,757 7,589

Current liabilities流動負債

Other payables and accrued liabilities其他應付款項及應計負債14 11,576 9,336

Contract liabilities合約負債1,770 —

Bank borrowings銀行借款15 5,190 6,742

Obligations under finance leases融資租賃承擔35 41

Taxation payable應付稅項7,159 7,081

Lease liabilities租賃負債12 2,582 —

28,312 23,200

Total liabilities負債總額37,069 30,789

Total equity and liabilities權益及負債總額161,048 160,452

30 November

2019

31 May

2019

二零一九年

十一月三十日

二零一九年

五月三十一日

Notes HK$』000 HK$』000

附註千港元千港元

(Unaudited) (Audited)

（未經審核）（經審核）

Liabilities負債

Non-current liabilities非流動負債

Deferred tax liabilities遞延稅項負債7,589 7,589

Lease liabilities租賃負債12 1,168 —

8,757 7,589

Current liabilities流動負債

Other payables and accrued liabilities其他應付款項及應計負債14 11,576 9,336

Contract liabilities合約負債1,770 —

Bank borrowings銀行借款15 5,190 6,742

Obligations under finance leases融資租賃承擔35 41

Taxation payable應付稅項7,159 7,081

Lease liabilities租賃負債12 2,582 —

28,312 23,200

Total liabilities負債總額37,069 30,789

Total equity and liabilities權益及負債總額161,048 160,452

UNAUDITED CONDENSED CONSOLIDATED 未經審核簡明綜合權益變動表

STATEMENT OF CHANGES IN EQUITY

For the six months ended 30 November 2019 截至二零一九年十一月三十日止六個月

Attributable to owners of the Company

本公司擁有人應佔

Non-

Share Share Capital Exchange Statutory Retained controlling Total

capital premium reserve reserve reserve earnings Total interests equity

股本股份溢價資本儲備匯兌儲備法定儲備保留盈利總計非控股權益權益總額

HK$』000 HK$』000 HK$』000 HK$』000 HK$』000 HK$』000 HK$』000 HK$』000 HK$』000

千港元千港元千港元千港元千港元千港元千港元千港元千港元

Balance at 1 June 2018於二零一八年六月一日

的結餘

8,000 56,497 774 269 — 41,898 107,438 (291) 107,147

Profit for the period期內溢利

— — — — — 14,338 14,338 29 14,367

Other comprehensive income/(loss):其他全面收入

╱（虧損）：

— Exchange difference on —換算海外業務的

translation of foreign 匯兌差額

operations — — — 5 — — 5 (2) 3

Total comprehensive income全面收入總額

— — — 5 — 14,338 14,343 27 14,370

Balance at 30 November 2018於二零一八年十一月

三十日的結餘

8,000 56,497 774 274 — 56,236 121,781 (264) 121,517

Balance at 1 June 2019於二零一九年六月一日

的結餘

8,000 56,497 774 252 332 64,050 129,905 (242) 129,663

(Loss)/profit for the period期內（虧損）╱溢利

— — — — — (5,686) (5,686) 2 (5,684)

Total comprehensive (loss)/income全面（虧損）╱收入總額

— — — — — (5,686) (5,686) 2 (5,684)

Balance at 30 November 2019於二零一九年十一月

三十日的結餘

8,000 56,497 774 252 332 58,364 124,219 (240) 123,979

UNAUDITED CONDENSED CONSOLIDATED 未經審核簡明綜合現金流量表

STATEMENT OF CASH FLOWS

For the six months ended 30 November 2019

Net cash generated from operating activitiesNet cash (used in)/generated from investing

activitiesNet cash used in financing activities

Net (decrease)/increase in cash and cash

equivalents

Effect of foreign exchange rate changes

Cash and cash equivalents at beginning of

the period

Cash and cash equivalents at end of

the period

Analysis of balances of cash and cash

equivalents

Cash at banks and on hand

截至二零一九年十一月三十日止六個月

Six months ended 30 November

截至十一月三十日止六個月

二零一八年

HK$』000

千港元

(Unaudited)

（未經審核）

經營活動所得現金淨額

4,867

投資活動（所用）╱所得現金淨額

12,299

融資活動所用現金淨額

(2,102 )

現金及現金等價物（減少）╱增加

淨額

15,064

110外匯匯率變動的影響

期初現金及現金等價物

23,137

期末現金及現金等價物

38,311

現金及現金等價物結餘分析

38,311銀行及手頭現金

2019

二零一九年

HK$』000

千港元

(Unaudited)

（未經審核）

15,452

(15,558)

(3,213)

(3,319)

—

28,839

25,520

25,520

NOTES TO THE UNAUDITED 未經審核簡明綜合財務

CONDENSED CONSOLIDATED 報表附註

FINANCIAL STATEMENTS

For the six months ended 30 November 2019 截至二零一九年十一月三十日止六個月

1. GENERAL INFORMATION 1. 一般資料

In Technical Productions Holdings Limited (the 「Company」) was In Technical Productions Holdings Limitedincorporated in the Cayman Islands on 4 November 2016 as an （「本公司」）於二零一六年十一月四日

exempted company with limited liability under the Companies Law (as 根據開曼群島公司法（經修訂）（經不

revised) of the Cayman Islands, as amended, supplemented or 時修訂、補充或以其他方式修改）在開

otherwise modified from time to time. The address of its registered 曼群島註冊成立為獲豁免有限公司。

office is Clifton House, 75 Fort Street, P.O. Box 1350, Grand 其註冊辦事處地址為Clifton House, 75

Cayman, KY1-1008 Cayman Islands. Fort Street, P.O. Box 1350, Grand Cayman,

KY1-1008 Cayman Islands。

The Company is an investment holding company. The Company 本公司為一間投資控股公司。本公司

and its subsidiaries (together the 「Group」) are principally engaged 及其附屬公司（統稱「本集團」）主要

in the provision of visual display solution services for concerts and 從事為香港、澳門及中華人民共和國

events primarily in Hong Kong, Macau, and the People’s Republic of （「中國」）的演唱會及活動提供視象顯

China (the 「PRC」) (the 「Business」). 示解決方案服務（「業務」）。

The Company’s shares (the 「Shares」) were listed on GEM of The 本公司股份（「股份」）於二零一七年六

Stock Exchange of Hong Kong Limited (the 「Stock Exchange」) (the 月十四日（「上市日期」）於香港聯合交

「Listing」) on 14 June 2017 (the 「Listing Date」). 易所有限公司（「聯交所」）GEM上市

（「上市」）。

The unaudited condensed consolidated financial statements are 除特別註明外，未經審核簡明綜合財

presented in Hong Kong dollars (「HK$」), unless otherwise stated. 務報表以港元（「港元」）列示。

2. BASIS OF PREPARATION 2. 編製基準

The unaudited condensed consolidated financial information of the 本集團截至二零一九年十一月三十日

Group for the six months ended 30 November 2019 has been 止六個月的未經審核簡明綜合財務資

prepared in accordance with accounting policies conform with 料乃根據符合香港會計師公會（「香港

Hong Kong Financial Reporting Standards (「HKFRSs」) issued by 會計師公會」）所頒佈適用於中期期間

the Hong Kong Institute of Certified Public Accountants (「HKICPA」) 的香港財務報告準則（「香港財務報告

applicable to interim periods and the applicable disclosure provisions 準則」）的會計政策及

GEM上市規則的

of the GEM Listing Rules. However, the unaudited condensed 適用披露條文編製。然而，未經審核

consolidated financial information does not contain sufficient 簡明綜合財務資料並無載有足夠資料

information to constitute an interim financial report as defined in 以構成香港財務報告準則界定的中期

HKFRSs. The unaudited condensed consolidated financial 財務報告。未經審核簡明綜合財務資

information should be read in conjunction with the consolidated 料須與本公司日期為二零一九年八月

financial statements of the Group for the year ended 31 May 2019 十三日之年報所載本集團截至二零

included in the annual report of the Company dated 13 August 一九年五月三十一日止年度之綜合財

2019, which have been prepared in accordance with HKFRSs issued 務報表一併閱讀，該綜合財務報表乃

by the HKICPA. 根據香港會計師公會頒佈的香港財務

報告準則而編製。

The unaudited condensed consolidated financial statements have 未經審核簡明綜合財務報表根據歷史

been prepared on the historical cost basis.成本基準編製。

3.

SUMMARY OF SIGNIFICANT ACCOUNTING 3. 主要會計政策概要

POLICIES

The significant accounting policies that have been used in the

preparation of these unaudited condensed consolidated financial

information are consistent with those followed in the preparation

of the Group’s consolidated financial statements for the year ended

31 May 2019.

The Group has adopted and applied the following new standards,

amendments to standards and interpretations that have been issued

and effective for the accounting periods beginning on 1 June 2019:

3.1

Adoption of new or revised HKFRSs and

HKASs

(i)

New standards, amendments and interpretations to

existing standards adopted by the Group

The HKICPA has issued the following new and amended

standards and interpretations that are first effective for the

current accounting period and relevant to the Group:

HKFRS 16

Leases

HK(IFRIC)-Int 23 Uncertainty over income tax

treatments

Amendments to HKFRS 9 Prepayment features with

negative compensation

Amendments to HKAS 19 Plan amendment, curtailment

or settlement

Amendments to HKAS 28 Long-term interests in

associates and joint ventures

Amendments to HKFRSs Annual improvements to

HKFRSs 2015–2017 cycle

The impact of adoption of HKFRS 16 is disclosed in Note 3.2

below. The other amended standards and interpretation did

not have significant impact on the Group’s accounting

policies and did not require retrospective adjustments.

編製該等未經審核簡明綜合財務資料

所採納之重大會計政策與下列編製本

集團截至二零一九年五月三十一日止

年度之綜合財務報表所用者一致。

本集團已採納並應用以下已頒佈並於

二零一九年六月一日開始之會計期間

生效的新準則、準則修訂本及詮釋：

3.1

採納新訂或經修訂香港財

務報告準則及香港會計準

則

(i)

本集團採納的新準則以及現有準

則的修訂及詮釋

香港會計師公會已頒佈以下於本

會計期間首次生效且與本集團

相關的新訂以及經修訂準則及詮

釋：

香港財務報告租賃

準則第16號

香港（國際財務所得稅處理的不

報告詮釋委員確定性

會）－詮釋

第23號

香港財務報告具有負補償的提

準則第9號前還款特徵

（修訂本）

香港會計準則第

計劃修訂、縮減

19號（修訂本）或清償

香港會計準則第

於聯營公司及合

28號（修訂本）營企業之長期

權益

香港財務報告香港財務報告準

準則（修訂本）則二零一五年

至二零一七年

週期年度改進

採納香港財務報告準則第16號的

影響於下文附註3.2披露。其他

經修訂準則及詮釋並未對本集團

的會計政策產生重大影響且並不

要求進行追溯調整。

(ii) New standards, amendments and interpretations issued (ii) 本集團尚未採納的已頒佈新訂準

but not yet adopted by Group 則、修訂及詮釋

The followings are new standards and amendments which 以下為已頒佈但尚未生效且並未

have been issued but are not effective and have not been 被提前採納的新準則及修訂。本

early adopted. The Group plans to adopt these new standards 集團計劃於其生效時採納該等新

and amendments when they become effective: 準則及修訂：

Effective for annual

periods beginning on

or after

於以下日期或之後開

始的年度期間生效

Amendments to HKFRS 3 Definition of a Business 1 January 2020

香港財務報告準則第3號業務的定義二零二零年一月一日

（修訂本）

Amendments to HKFRS 10 and Sale or contribution of assets between an investor and To be determinedHKAS 28 its associate or joint venture

香港財務報告準則第10號及投資者與其聯營公司或合營企業間的資產待定

香港會計準則第28號（修訂出售或注入

本）

HKFRS 17 Insurance contracts 1 January 2021

香港財務報告準則第17號保險合約二零二一年一月一日

Amendments to HKAS 1 and Definition of Material 1 January 2020

HKAS 8

香港會計準則第1號及香港重大的定義二零二零年一月一日

會計準則第8號（修訂本）

Conceptual Framework for Revised Conceptual Framework for Financial Reporting 1 January 2020Financial Reporting 2018

財務報告概念框架經修訂財務報告概念框架二零二零年一月一日

（二零一八年版）

3.2

Changes in accounting policies upon adoption 3.2 採納新香港財務報告準則

of new HKFRS 後的會計政策變動

Changes in Accounting Policies

會計政策變動

This note explains the impact of the adoption of HKFRS 16

本附註說明採納香港財務報告準

「Leases」 on the Group’s interim financial information and

則第16號「租賃」對本集團中期

discloses the new accounting policies that have been applied

財務資料的影響，並在下文附註

from 1 June 2019 in Note 3.2(a) and (b) below.

3.2(a)及(b)中披露自二零一九年

六月一日已應用的新會計政策。

The Group has adopted HKFRS 16 from mandatory adoption 本集團自強制採納日期二零一九

date of 1 June 2019 and applied the simplified transition 年六月一日起採納香港財務報告

approach and did not restate comparative amounts for the 準則第16號，並應用簡化過渡方

year prior to first adoption. Right-of-use assets for leases were 法而未重列首次採納前一年度的

measured on transition at an amount equal to the lease 比較數字。過渡時，租賃的使用

liabilities, adjusted by the amount of any prepaid or accrued 權資產按租賃負債同等金額計

lease payments. 量，並按任何預付或應計租賃付

款金額作出調整。

(a) Adjustments recognised on adoption of HKFRS 16 (a) 採納香港財務報告準則第16號時

確認的調整

On adoption of HKFRS 16, the Group recognised lease 於採納香港財務報告準則第16liabilities in relation to leases which had previously been 號時，本集團就先前根據香港會

classified as 』operating leases』 under the principles of HKAS 計準則第17號「租賃」的原則分類

17 「Leases」. These liabilities were measured at the present 為「經營租賃」的租賃確認租賃負

value of the remaining lease payments, discounted using the 債。該等負債按剩餘租賃付款的

lessee’s incremental borrowing rate as of 1 June 2019. 現值計量，並使用承租人於二零

一九年六月一日的增量借款利率

進行折現。

HK$』000

千港元

Operating lease commitment disclosed as at

31 May 2019 (Audited)

(Less): short-term lease recognised on a

straight-line basis as expenses

Add: adjustments as a result of different

treatment of contractual and expected lease

periods including termination options

於二零一九年五月三十一日的已披露經營

租賃承擔（經審核）

4,107

（減）：按直線基準確認為開支的短期租賃

(1,577)

加：因合約期及預期租期（包括終止選擇

權）的不同處理方法而作出的調整

2,192

4,722

Lease liabilities discounted using the 使用承租人於初始確認日期（二零一九年

lessee’s incremental borrowing rate at 六月一日）的增量借款利率折現的租賃

the date of initial recognition, 1 June 負債（未經審核）

2019 (Unaudited)4,480

Of which are:其中：

Current lease liabilities流動租賃負債

2,706

Non-current lease liabilities非流動租賃負債

1,774

The associated right-of-use assets were measured at the

amount equal to the lease liabilities, adjusted by the amount

of any prepaid or accrued lease payments relating to that

lease recognised in the consolidated balance sheet as at 31

May 2019. There were no onerous lease contracts that would

have required an adjustment to the right-of-use assets at the

date of initial application.

4,480

相關使用權資產按等同於租賃負

債的金額計量，並按於二零一九

年五月三十一日的綜合資產負債

表中確認的租賃相關的任何預付

或應計租賃付款金額作出調整。

並無任何將需要於初始應用日期

對使用權資產作出調整的有償租

賃合約。

The carry amounts of right-of-use assets by class of underlying 按相關資產類別劃分的使用權資

asset are as below: 產的賬面值如下：

30 November 1 June

2019 2019

二零一九年

十一月三十日

二零一九年

六月一日

HK$』000 HK$』000

千港元千港元

(Unaudited) (Unaudited)

（未經審核）（未經審核）

Properties物業 3,708 4,480

In applying HKFRS 16 for the first time, the Group has used

於首次應用香港財務報告準則第

the following practical expedients permitted by the standard:

16號時，本集團已使用該準則所

允許的以下實際權宜做法：

.

the use of a single discount rate to a portfolio of leases . 對具備合理相似特徵的租

with reasonably similar characteristics. 賃組合應用單一折現率。

.

the accounting for operating leases with a remaining .將於二零一九年六月一日

lease term of less than 12 months as at 1 June 2019 as 剩餘租期少於 12個月的經

short-term leases. 營租賃作為短期租賃入賬。

The Group has also elected not to reassess whether a contract 本集團已選擇不在首次應

is, or contains a lease at the date of initial application. Instead, 用日期重新評估一項合約

for contracts entered into before the transition date, the 是否為租賃或包含租賃，而

Group relied on its assessment made applying HKAS 17 and 是對於在過渡日期之前訂

HK(IFRIC)-Int 4 Determining whether an Arrangement 立的合約，依賴應用香港會

contains a Lease. 計準則第17號及香港（國際

財務報告詮釋委員會）－詮

釋第4號釐定一項安排是否

包含租賃所作的評估。

(b)

The Group’s leasing activities and how these are accounted (b) 本集團的租賃活動及相關租賃的

for 入賬方法

The Group leases various offices, warehouses and visual 本集團租賃各類辦公室、倉庫及

display equipment. Rental contracts are typically made for 視像顯示設備。租賃合約通常有

fixed periods of 2 to 4 years. Lease terms are negotiated on 2至4年的固定期限。租賃條款按

an individual basis and contain a wide range of different 個別基準協商，包含各種不同條

terms and conditions. The lease agreements do not impose 款及條件。租賃協議並未規定任

any covenants, but leased assets may not be used as security 何契諾，但租賃資產不得用作借

for borrowing purposes. 款的抵押品。

Until 31 May 2019, leases of properties were classified as 截至二零一九年五月三十一日，

either finance or operating leases. Payments made under 物業的租賃分類為融資租賃或經

operating leases (net of any incentives received from the 營租賃。經營租賃下的付款（扣

lessor) were charged to profit or loss on a straight-line basis 除自出租人收取的任何優惠）於

over the period of the lease.租期內以直線法自損益扣除。

From 1 June 2019, leases are recognised as a right-of-use

asset and a corresponding liability at the date at which the

leased asset is available for use by the Group. Each lease

payment is allocated between the liability and finance cost.

The finance cost is charged to profit or loss over the lease

period so as to produce a constant periodic rate of interest on

the remaining balance of the liability for each period. If the

lease transfers ownership of the underlying assets to the

Group by the end of the lease term or if the cost of the rightof-

use assets reflect that the Group will exercise a purchase

option, the Group depreciates the right-of-use asset from the

commencement date of the lease to the end of the useful life

of the underlying assets. Otherwise, right-of-use assets are

depreciated over the shorter of the assets』 useful lives and

their lease terms on a straight-line basis.

Assets and liabilities arising from a lease are initially measured

on a present value basis. Lease liabilities include the net

present value of the following lease payments:

.

fixed payments (including in-substance fixed payments),

less any lease incentives receivable;

.

variable lease payments that are based on an index or a

rate;

The lease payments are discounted using the interest rate

implicit in the lease. If that rate cannot be determined, the

lessee’s incremental borrowing rate is used, being the rate

that the lessee would have to pay to borrow the funds

necessary to obtain an asset of similar value in a similar

economic environment with similar terms and conditions.

Right-of-use assets are measured at cost comprising the

following:

.

the amount of the initial measurement of lease liability;

.

any lease payments made at or before the

commencement date less any lease incentives received;

.

any initial direct costs; and

.

restoration costs.

Payments associated with short-term leases and leases of lowvalue

assets are recognised on a straight-line basis as an

expense in profit or loss. Short-term leases are leases with a

lease term of 12 months or less.

自二零一九年六月一日起，本集

團於租賃資產可供本集團使用當

日就租賃確認使用權資產及相應

的負債。各租賃付款在負債及財

務成本間分配。財務成本於租期

內自損益扣除，從而計算出各期

間負債餘額的固定週期性利率。

倘租賃在租期結束時將相關資產

的所有權轉移至本集團或倘使用

權資產成本反映本集團將行使購

買選擇權，則本集團自租賃開始

日期至相關資產的使用年期結束

期間對使用權資產進行折舊。否

則，使用權資產以直線基準按資

產的使用年期與租期中較短者折

舊。

租賃產生的資產及負債初步以現

值基準計量。租賃負債包括以下

租賃付款之現值淨額：

.

定額付款（包括實質定額付

款），扣減任何應收租賃優

惠；

.

基於某項指數或比率的可

變租賃付款；

租賃付款採用租賃所隱含的利率

予以貼現。倘無法釐定該利率，

則使用承租人的增量借款利率，

即承租人在類似條款及條件的類

似經濟環境中借入獲得類似價值

資產所需資金所必須支付的利

率。

按成本計量之使用權資產包括下

列項目：

.

租賃負債之初始計量金額；

.

任何在開始日期或之前作

出之租賃付款減任何已收

取租賃優惠；

.

任何初始直接成本；及

.

修復成本。

與短期租賃及低價值資產租賃有

關之付款按直線法於損益中確認

為開支。短期租賃指租賃期為

12

個月或以下之租賃。

Termination options

Termination options are included in a number of leases across

the Group. These terms are used to maximise operational

flexibility in terms of managing contracts. The majority of

termination options are exercisable only by the Group as

leasee and not by the respective lessor.

Judgements in determining the lease term and discount rate

In determining the lease term, management considers all facts

and circumstances that create an economic incentive to not

exercise a termination option. Periods after termination

options are only included in the lease term if the lease is

reasonably certain to be not terminated.

The assessment is reviewed if a significant event or a

significant change in circumstances occurs which affects this

assessment and that is within the control of the lessee.

In determining the discount rate, the Group is required to

exercise considerable judgement taking into account the

nature of the underlying assets and the terms and conditions

of the leases at the commencement date.

終止選擇權

本集團的多項租賃包含終止選擇

權。該等條款乃用於盡量提高管

理合約方面的經營靈活性。大部

份終止選擇權僅可由本集團（作

為承租人）行使，而不得由有關

出租人行使。

釐定租期及貼現率時的判斷

於釐定租期時，管理層會考慮引

致不行使終止選擇權的經濟動機

的所有事實及情況。終止選擇權

後的時期僅會在合理肯定租約將

不會終止時計入租期。

倘因發生重大事件或情況出現重

大改變而影響評估，並於承租人

掌控之中，則須檢討有關評估。

於釐定貼現率時，本集團需考慮

相關資產的性質及租賃於開始當

日的條款及條件作出重大判斷。

4. REVENUE AND SEGMENT INFORMATION

(a) Revenue

Revenue is recognised to the extent that it is probable that

the economic benefits will flow to the Group and the amount

of revenue can be measured reliably. Revenue from visual

display solution services is recognised after each show or

event of a project is performed, while revenue from

equipment rental is recognised on a straight-line basis over

the term of the lease.

An analysis of the Group’s revenue for the reporting period is

as follows:

4. 收益及分部資料

(a) 收益

收益於以下情況下得到確認，即

經濟利益將流入本集團及能夠可

靠地計量收益金額。視像顯示解

決方案服務收益於每個項目的演

出或活動執行之後被確認，而設

備租賃收益於租約期內以直線法

確認。

於報告期內本集團收益情況分析

如下：

Three months ended Six months ended

30 November 30 November

截至十一月三十日止三個月截至十一月三十日止六個月

2019 2018 2018

二零一九年二零一八年二零一八年

HK$』000 HK$』000 HK$』000

千港元千港元千港元

(Unaudited) (Unaudited) (Unaudited)

（未經審核）（未經審核）（未經審核）

14,962 22,783 52,189

40 15 37

15,002

22,798

2019

二零一九年

HK$』000

千港元

(Unaudited)

（未經審核）

33,322

150

33,472

52,226

Revenue from visual 視像顯示解決方案

display solution services服務收益

Equipment rental income設備租賃收入

(b) Segment information (b) 分部資料

Management has determined the operating segments based

on the reports reviewed by the chief operating decision-maker

that are used to make strategic decisions. These reports are

prepared on the same basis as these unaudited condensed

consolidated financial statements.

管理層已根據主要經營決策者審

議並用於制訂策略性決策的報告

釐定經營分部。有關報告根據與

該等未經審核簡明綜合財務報表

相同的基準編製。

The chief operating decision-maker is identified as the

executive directors of the Company. The executive directors

review the Group’s consolidated financial statements mainly

from a single business perspective as the Group is mainly

engaged in the provision of visual display solution services.

本公司執行董事已確定為主要經

營決策者。由於本集團主要從事

提供視像顯示解決方案服務，故

執行董事主要從單一業務角度審

閱本集團的綜合財務報表。

During the six months ended 30 November 2019 and 2018,

all of the Group’s revenue from the contracts with customers

are recognised over time.

截至二零一九年及二零一八年

十一月三十日止六個月，本集團

所有來自客戶合約的收益均隨時

間確認。

The Group’s revenue is attributable to the following 本集團的收益來自以下地區市

geographical markets: 場：

Three months ended Six months ended

30 November 30 November

截至十一月三十日止三個月截至十一月三十日止六個月

2018

2019

二零一九年

HK$』000

千港元

(Unaudited)

（未經審核）

13,606

12,082

7,434

350

33,472

2018

二零一八年

二零一八年

HK$』000

HK$』000

千港元

千港元

(Unaudited)

(Unaudited)

（未經審核）

（未經審核）

6,232

13,187

PRC中國

Hong Kong香港

9,226

26,178

Macau澳門

4,784

9,913

Others其他

2,556

2,948

2019

二零一九年

HK$』000

千港元

(Unaudited)

（未經審核）

5,334

4,337

4,981

350

15,002

22,798

52,226

The Group’s total non-current assets were located in the 本集團非流動資產總額根據本集

following regions based on the countries/place of domicile of 團旗下公司所在國家╱位置位於

the companies comprising the Group: 下列地區：

As at

31 May

2019

於二零一九年

五月三十一日

HK$』000

千港元

Assets:資產：

Hong Kong香港

148,292

PRC中國

10,079

Macau澳門

2,081

160,452

Non-current assets:非流動資產：

Hong Kong香港

85,142

PRC中國

4,626

Macau澳門

707

90,475

As at

30 November

2019

於二零一九年

十一月三十日

HK$』000

千港元

139,180

14,878

6,990

161,048

91,396

6,925

1,600

99,921

5. EXPENSES BY NATURE 5. 按性質劃分的開支

2019 2018 2019

二零一九年二零一八年二零一九年

HK$』000 HK$』000 HK$』000

千港元千港元千港元

(Unaudited) (Unaudited) (Unaudited)

（未經審核）（未經審核）（未經審核）

312 438 625

— 375 —

147 563 350

5,020 4,422 9,957

739 — 1,427

774 — 1,518

4,914 4,676 10,037

— 1,010 —

832 1,239 2,149

425 613 782

833 1,115 1,825

866 178 1,047

— 972 —

1,043 1,357 2,455

2,588 — 7,167

18,493 16,958 39,339

Auditors remunerationConsultancy and technician

feesCost of equipment and

spare partsDepreciation of property,

plant and equipmentDepreciation of right-of-use

assets

Rental expenses of

short-term leases in

respect of rental premises

and equipment

Employee benefit expensesEquipment rental chargesFreight and logistics

expensesLegal and professional

expensesSub-contracting chargesTravelling expensesOperating lease rentals in

respect of rental premisesOthersProfessional services fee in

respect of transfer listing

preparation

Three months ended

30 November

截至十一月三十日止三個月

核數師薪酬

諮詢及技術費

設備及配件成本

物業、廠房及設備

折舊

使用權資產折舊

有關租賃物業及設備

短期租賃的租金

開支

員工福利開支

設備租賃費

運費及物流費

法律及專業費用

分包費

差旅費

租賃物業的經營租賃

租金

其他

有關籌備轉板上市的

專業服務費

Six months ended

30 November

截至十一月三十日止六個月

2018

二零一八年

HK$』000

千港元

(Unaudited)

（未經審核）

750

632

783

8,752

—

—

9,882

1,873

3,169

1,094

2,997

372

1,810

2,826

—

34,940

6. EMPLOYEE BENEFIT EXPENSES

6. 僱員福利開支

Three months ended Six months ended

30 November 30 November

截至十一月三十日止三個月截至十一月三十日止六個月

2018

2018

二零一八年

二零一八年

HK$』000

HK$』000

千港元

千港元

(Unaudited)

(Unaudited)

（未經審核）

（未經審核）

Wages, salaries and 工資、薪金及津貼

allowances, excluding （不包括董事酬金）

directors』 emoluments

7,471

Directors』 emoluments董事酬金

1,494

Pension costs — 退休金費用—向界定

contributions to defined 供款計劃供款

contribution plans

917

4,676

9,882

2019 2019

二零一九年二零一九年

HK$』000 HK$』000

千港元千港元

(Unaudited) (Unaudited)

（未經審核）（未經審核）

3,858 3,532 7,908

603 695 1,204

453 449 925

4,914 10,037

7. FINANCE INCOME/(COSTS), NET

7. 財務收入╱（成本）淨額

Three months ended Six months ended

30 November 30 November

截至十一月三十日止三個月截至十一月三十日止六個月

2018

2018

二零一八年

二零一八年

HK$』000

HK$』000

千港元

千港元

(Unaudited)

(Unaudited)

（未經審核）

（未經審核）

327

Interest on bank borrowings銀行借款利息

Bank interest income銀行利息收入

(292)

Finance charges on

融資租賃承擔的融資

obligations under finance 費用

leases

(5)

Imputed Interest on payables

使用權資產應付款項

for Right-of-use asset之估算利息

—

(297)

Finance costs財務成本

Finance (costs)/income, net財務（成本）╱收入

淨額

34

30

2019 2019

二零一九年二零一九年

HK$』000 HK$』000

千港元千港元

(Unaudited) (Unaudited)

（未經審核）（未經審核）

132 176 199

(83) (140) (177)

— (2) —

(50) — (106)

(133) (142) (283)

(1) (84)

8. INCOME TAX EXPENSE

Pursuant to the enactment of two-tiered profit tax rates issued by

the Inland Revenue Department (「IRD」) from the year of

assessment 2018/19 onwards, the Group’s first HK$2 million of

assessable profits under Hong Kong profits tax for the six months

ended 30 November 2019 is subject to a tax rate of 8.25%, while

the remaining assessable profits are subject to a tax rate of 16.5%.

Hong Kong profits tax has been provided for at the rate of 16.5%

on the estimated assessable profits for the six months ended 30

November 2018.

All PRC subsidiaries of the Company are subject to the PRC

Enterprise Income Tax at the rate of 25.0% for the six months

ended 30 November 2019 and 2018.

The Macau subsidiary of the Company was subject to Macau

complementary tax at the rate of 12.0% on the estimated

assessable income exceeding MOP600,000 for the six months

ended 30 November 2019.

The amounts of taxation charged to profit and loss represent:

8. 所得稅開支

根據稅務局（「稅務局」）自二零一八╱

一九課稅年度起發出的兩級制利得稅

稅率，本集團截至二零一九年十一月

三十日止六個月按香港利得稅制制定

的首個2百萬港元應課稅溢利，應以稅

率8.25%計算，而剩餘應課稅溢利稅

率為16.5%。截至二零一八年十一月

三十日止六個月的估計應課稅溢利按

香港利得稅率16.5%計提撥備。

截至二零一九年及二零一八年十一月

三十日止六個月，本公司所有中國附

屬公司須按25.0%稅率繳納中國企業

所得稅。

截至二零一九年十一月三十日止六個

月，本公司之澳門附屬公司估計應課

稅收入超過600,000澳門元之部分須按

12.0%稅率繳納澳門所得補充稅。

自損益扣除的稅項金額指：

Three months ended Six months ended

30 November 30 November

截至十一月三十日止三個月截至十一月三十日止六個月

2019 2018 2018

二零一九年二零一八年二零一八年

HK$』000 HK$』000 HK$』000

千港元千港元千港元

(Unaudited) (Unaudited) (Unaudited)

（未經審核）（未經審核）（未經審核）

14 1,185 2,311

76 (193) 595

— — —

90

992

2019

二零一九年

HK$』000

千港元

(Unaudited)

（未經審核）

—

(17)

—

(17)

2,906

Current income tax:

Hong Kong profits taxPRC corporate income taxMacau complementary tax

即期所得稅：

香港利得稅

中國企業所得稅

澳門所得補充稅

9. DIVIDENDS 9. 股息

The directors of the Company do not recommend the payment of 本公司董事不建議派付截至二零一九

dividend for the six months ended 30 November 2019 (six months 年十一月三十日止六個月的股息（截

ended 30 November 2018: Nil). 至二零一八年十一月三十日止六個

月：零）。

22

10. EARNINGS/(LOSS) PER SHARE 10. 每股盈利

╱（虧損）

For the six months ended 30 November 2019 and 2018, the basic 截至二零一九年及二零一八年十一月

earnings per Share is calculated based on (i) the profit attributable 三十日止六個月，每股基本盈利乃按

to owners of the Company and (ii) the weighted average number of (i)本公司擁有人應佔溢利及(ii)期內已

Shares issued during the period. 發行股份之加權平均數計算。

Three months ended Six months ended

30 November 30 November

截至十一月三十日止三個月截至十一月三十日止六個月

2019 2018 2019

二零一九年二零一八年二零一九年

(Unaudited) (Unaudited) (Unaudited)

（未經審核）（未經審核）（未經審核）

(3,271) 4,822 (5,686)

800,000 800,000 800,000

(0.41) 0.60 (0.71)

Profit/(loss) attributable to

owners of the Company

(HK$』000)

Weighted average number

of ordinary Shares in issue

(thousand Shares)

Earnings/(loss) per Share

(HK cents)

本公司擁有人應佔

溢利╱（虧損）

（千港元）

已發行普通股之加權

平均數（千股）

每股盈利╱（虧損）

（港仙）

2018

二零一八年

(Unaudited)

（未經審核）

14,338

800,000

1.79

Diluted earnings per Share were same as the basic earnings per

Share as there were no potential dilutive Shares in existence during

the reporting period.

11. PROPERTY, PLANT AND EQUIPMENT

The net book value of property, plant and equipment is analysed as

follows:

每股攤薄盈利與每股基本盈利相同，

因為於報告期內並無存在潛在的攤薄

股份。

11. 物業、廠房及設備

物業、廠房及設備賬面淨值分析如下：

HK$』000

千港元

At 1 June 2019 (audited)於二零一九年六月一日（經審核）

76,993

Additions添置

23,574

Disposals出售

—

Depreciation charge折舊開支

(9,957)

Currency translation differences貨幣換算差額

—

At 30 November 2019 (unaudited)於二零一九年十一月三十日（未經審核）

90,610

12. RIGHT-OF-USE ASSETS AND LEASE LIABILITIES 12. 使用權資產及租賃負債

(a) Amounts recognised in the condensed (a) 於簡明綜合財務狀況表確

consolidated statement of financial position 認的款項

The condensed consolidated balance sheet shows the 簡明綜合資產負債表列示以下租

following amounts relating to leases: 賃相關款項：

30 November

2019

二零一九年

十一月三十日

HK$』000

千港元

(Unaudited)

（未經審核）

3,708

3,708

Right-of-use assets (note)

使用權資產（附註）

Properties

物業

Note:

Upon adoption of HKFRS 16, on 1 June 2019, the Group recognised

right-of-use assets of approximately HK$4,479,918 regarding lease on

premises. During the six months ended 30 November 2019, the Group

entered into a new lease on premises and recognised right-of-use assets

of approximately HK$655,394. As at 30 November 2019, the carrying

amounts of right-of-use assets was HK$3,708,215 in respect of the

lease on premises.

Lease liabilities

租賃負債

Non-current portion非流動部分

Current portion流動部分

附註：於採納香港財務報告準則第

16號後，本集

團於二零一九年六月一日確認有關物業租

賃的使用權資產約4,479,918港元。於截至

二零一九年十一月三十日止六個月，本集

團就物業訂立一份新租賃，並確認使用權

資產約655,394港元。於二零一九年十一

月三十日，有關物業租賃之使用權資產賬

面值為3,708,215港元。

30 November

2019

二零一九年

十一月三十日

HK$』000

千港元

(Unaudited)

（未經審核）

1,168

2,582

3,750

(b) Amounts recognised in the condensed

consolidated statement of profit or loss and

other comprehensive income

(b) 於簡明綜合損益及其他全

面收入表確認之金額

The condensed consolidated statement of profit and loss and

other comprehensive income shows the following amounts

relating to leases:

簡明綜合損益及其他全面收入表

列示以下租賃相關款項：

Six months

ended

30 November

2019

截至二零一九

年十一月三十

日止六個月

HK$』000

千港元

(Unaudited)

（未經審核）

1,427

106

1,518

Depreciation charge of right-of-use assets使用權資產折舊費用

Properties物業

Finance costs on leases租賃融資成本

Rental expenses of short-term leases in respect 辦公室、倉庫及設備相關短期租賃之

of offices, warehouses and equipment租金開支

(c) Amounts recognised in the condensed

consolidated statement of cash flows

(c) 於簡明綜合現金流量表確

認之金額

During the six months ended 30 November 2019, the total

cash outflows for leases were analysed as below:

截至二零一九年十一月三十日止

六個月，租賃的總現金流出的分

析如下：

2019

二零一九年

HK$』000

千港元

(Unaudited)

（未經審核）

Cash flows from operating activities (Note)經營活動所得現金流量（附註）

Payments for short-term leases in respect of

office, warehouses and equipment

辦公室、倉庫及設備相關短期租賃

之付款1,518

Cash flows from financing activities融資活動所得現金流量

Payment of Interest element of lease liabilities租賃負債利息部分之付款106

Payment of principal element of lease liabilities租賃負債本金部分之付款1,895

The total cash outflow of leases租賃的總現金流出3,519

Note: Payments for short-term leases were not shown separately, but included

in the line of 「profit before income tax」 in respect of the net cash

generated from operations using the indirect method.

附註：短期租賃付款並無單獨列示，惟以間接方

式包括於經營所得現金淨額中「除所得稅

前溢利」一項。

25

13. TRADE AND OTHER RECEIVABLES, 13. 貿易及其他應收款項、預付

PREPAYMENTS AND DEPOSITS 款項及按金

As at

30 November

2019

As at

31 May

2019

於二零一九年

十一月三十日

於二零一九年

五月三十一日

HK$』000 HK$』000

千港元千港元

Trade receivables貿易應收款項19,803 25,055

Deposits for purchase of equipment購買設備按金5,603 13,109

Deposits for equipment rental設備出租按金9,044 11,358

Prepayments, deposits and other receivables預付款項、按金及其他應收

款項3,757 2,082

38,207 51,604

Less: non-current portion減：非即期部分(5,603) (13,482)

Current portion即期部分32,604 38,122

Prepayments, deposits and other receivables mainly include office

rental and utility deposits and advance to staff.

The maximum exposure to credit risk at the period end date is the

carrying amount of each class of receivables and deposits

mentioned above. The Group does not hold any collateral as

security.

The Group’s trade receivables are settled by cash on delivery or

credit period of around 30 to 90 days after provision of services. As

at 30 November 2019 and 31 May 2019, an ageing analysis of the

trade receivables based on invoice date is as follows:

As at

30 November

2019

於二零一九年

十一月三十日

HK$』000

千港元

4,860

3,201

3,035

8,707

19,803

0–30 days 0至30天

31–60 days 31至60天

61–90 days 61至90天

Over 90 days超過90天

預付款項、按金及其他應收款項主要

包括辦公室租金、公用服務按金及向

員工墊款。

於期間結束日期的最大信貸風險為上

述各類應收款項及按金的賬面值。本

集團並無持有任何抵押品作抵押。

本集團的貿易應收款項在交貨時或提

供服務後約30至90天的信用期內以

現金結算。於二零一九年十一月三十

日及二零一九年五月三十一日，基於

發票日期的貿易應收款項賬齡分析如

下：

As at

31 May

2019

於二零一九年

五月三十一日

HK$』000

千港元

11,634

2,278

2,707

8,436

25,055

As at 30 November 2019 and 31 May 2019 trade receivables of

approximately HK$19,803,000 and HK$25,055,000, respectively,

were past due but not impaired. These relates to a number of

independent customers for whom there is no recent history of

default.

The credit quality of trade and other receivables and deposits that

are neither past due nor impaired has been assessed by reference to

historical information about counterparty default rates. The existing

counterparties do not have significant defaults in the past.

The carrying amounts of trade and other receivables approximate

their fair values due to their short maturities.

14. OTHER PAYABLES AND ACCRUED LIABILITIES

於二零一九年十一月三十日及二

零一九年五月三十一日，分別約為

19,803,000港元及25,055,000港元的貿

易應收款項已逾期但並無減值。這與

眾多近期並無拖欠付款記錄的獨立客

戶有關。

既未逾期亦無減值的貿易及其他應收

款項及按金的信貸質素經參考有關交

易對方的拖欠付款比率之過往資料而

進行評估。現有的交易對方過往並無

嚴重拖欠付款。

貿易及其他應收款項的賬面值由於其

期限短而與其公平值相若。

14. 其他應付款項及應計負債

As at

30 November

2019

As at

31 May

2019

於二零一九年

十一月三十日

於二零一九年

五月三十一日

HK$』000 HK$』000

千港元千港元

Payables for equipment設備應付款項4,713 4,775

Other accruals and payables其他應計費用及應付款項6,863 4,561

11,576 9,336

Less: non-current portion減：非即期部分— —

Current portion即期部分11,576 9,336

As at 30 November 2019 and 31 May 2019, the Group’s ageing

analysis of the payables for equipment based on invoice date is as

follows:

As at

30 November

2019

於二零一九年

十一月三十日

HK$』000

千港元

—

—

—

4,713

4,713

0–30 days 0至30天

31–60 days 31至60天

61–90 days 61至90天

Over 90 days超過90天

於二零一九年十一月三十日及二零

一九年五月三十一日，本集團基於發

票日期的設備應付款項賬齡分析如

下：

As at

31 May

於二零一九年

五月三十一日

HK$』000

千港元

—

—

—

4,775

4,775

The carrying amounts of all short-term payables and accrued 所有短期應付款項及應計負債的賬面

liabilities approximate their fair values due to their short maturities. 值由於其期限短而與其公平值相若。

15. BANK BORROWINGS

15. 銀行借款

As at 30 November 2019 and 31 May 2019, bank borrowings are

於二零一九年十一月三十日及二零

repayable as follows:

一九年五月三十一日，須償還的銀行

借款如下：

As at

31 May

2019

於二零一九年

五月三十一日

HK$』000

千港元

Bank loans, secured:銀行貸款，有抵押：

Balances repayable within one year classified 須於一年內償還款項，分類為

as current liabilities流動負債的結餘

3,148

Balances repayable after one year, with 須於一年後償還款項，包含按

clause of repayable on demand classified 要求償還條款，分類為流動

as current liabilities負債的結餘

3,594

6,742

As at

30 November

2019

於二零一九年

十一月三十日

HK$』000

千港元

2,952

2,238

5,190

The above bank loans bear interest ranging from 5.6% to 5.9% per

annum for the six months ended 30 November 2019, 5.6% to 5.9%

per annum for the six months ended 30 November 2018.

As at 30 November 2019 and 31 May 2019, the fair value of

current bank borrowings equals their carrying amount as the impact

of discounting is not significant.

As at 30 November 2019 and 31 May 2019, the Group’s bank

borrowings based on the scheduled repayment dates as set out in

the loan agreements and ignoring the effect of any repayment on

demand clause are repayable as follows:

As at

30 November

2019

於二零一九年

十一月三十日

HK$』000

千港元

2,952

2,238

—

5,190

Within 1 year 1年內

Between 1 and 2 years 1至2年

Between 2 and 5 years 2至5年

截至二零一九年十一月三十日止六個

月，以上銀行貸款之年利息介乎

5.6%

至5.9%，截至二零一八年十一月三十

日止六個月之年息介乎5.6%至5.9%。

於二零一九年十一月三十日及二零

一九年五月三十一日，由於貼現的影

響不大，當期銀行借款的公平值與其

賬面值相若。

於二零一九年十一月三十日及二零

一九年五月三十一日，本集團銀行借

款須於以下期限償還（根據貸款協議

所載計劃還款日期，並不計及任何按

要求還款條款的影響）：

As at

31 May

2019

於二零一九年

五月三十一日

HK$』000

千港元

3,148

3,594

—

6,742

The bank borrowings are denominated in HK$. 銀行借款以港元計值。

16. SHARE CAPITAL 16. 股本

Number of

ordinary

shares

普通股數目

Nominal value

of ordinary

shares

普通股面值

HK$』000

千港元

Authorised:法定：

At 4 November 2016 (date of incorporation)於二零一六年十一月四日

（註冊成立日期）

30,000,000 300

Increase in authorized shares法定股份增加

2,970,000,000 29,700

Ordinary shares of HK$0.01 each as at 於二零一九年五月三十一日、

31 May 2019, 1 June 2019 and 二零一九年六月一日及

30 November 2019二零一九年十一月三十日

每股面值0.01港元的普通股

3,000,000,000 30,000

Issued and fully paid:

Ordinary share of HK$0.01 each at

4 November 2016 (date of

incorporation) and as at 31 May

2017

Shares issued pursuant to the

Capitalisation Issue (Note 1)

Shares issued pursuant to the

Share Offer upon Listing (Note 2)

Share issuance costs

Number of Nominal value

ordinary of ordinary Share

shares shares premium

普通股數目普通股面值股份溢價

HK$』000 HK$』000

千港元千港元

已發行及繳足：

於二零一六年十一月

四日（註冊成立日

期）及於二零一七年

五月三十一日每股

面值0.01港元的普通

股

1——

根據資本化發行發行

之股份（附註

1）

599,999,999 6,000 6,000

上市時根據股份發售

發行之股份（附註

2）

200,000,000 2,000 58,000

股份發行成本

— — (7,503)

At 31 May 2019, 1 June 2019 and 於二零一九年

30 November 2019五月三十一日、

二零一九年六月

一日及二零一九年

十一月三十日

800,000,000 8,000 56,497

Note 1:

On 14 June 2017, the Group capitalized the shareholder’s loan with an

amount of HK$12,000,000 owed by In Technical Productions Limited (「ITP

(HK)」) a subsidiary of the Company, to Next Vision Management Limited (「Next

Vision」) by issuing 599,999,999 new shares of the Company, credited as

fully paid, to Next Vision (the 「Capitalisation Issue」).

Note 2:

On 14 June 2017, the Company’s shares were listed on GEM of The Stock

Exchange of Hong Kong Limited. The Company issued a total of 200,000,000

shares at a price of HK$0.30 per share during the new share offer for a total

proceeds (before related fees and expenses) of HK$60,000,000 (the 「Share

Offer」).

17. COMMITMENTS

(a)

Capital commitments

Capital expenditure contracted for but not yet incurred as at

30 November 2019 and 31 May 2019 are as follows:

附註1：於二零一七年六月十四日，本集團已

透過向Next Vision Management Limited（「Next Vision」）發行

599,999,999股入賬

列為繳足之本公司新股份，將本公司一

間附屬公司In Technical Productions Limited

（「ITP (HK)」）結欠

Next Vision之12,000,000

港元之股東貸款撥充資本（「資本化發

行」）。

附註2：於二零一七年六月十四日，本公司股份

於香港聯合交易所有限公司GEM上市。

於新股份發售期間，本公司已發行合共

200,000,000股股份，每股價格

0.30港

元，所得款項總額（扣除相關費用及開支

前）為60,000,000港元（「股份發售」）。

17.

承擔

(a)

資本承擔

於二零一九年十一月三十日及二

零一九年五月三十一日已訂約但

尚未產生的資本開支如下：

As at

30 November

2019

As at

31 May

2019

於二零一九年

十一月三十日

於二零一九年

五月三十一日

HK$』000 HK$』000

千港元千港元

Property, plant and equipment物業、廠房及設備2,439 1,367

(b)

Operating lease commitments — Group as (b) 經營租賃承擔

—本集團為

lessee 承租人

As at 30 November 2019 and 31 May 2019, the Group had 於二零一九年十一月三十日及二

total future aggregate minimum lease payments under non-零一九年五月三十一日，本集團

cancellable operating leases in respect of office premises as 合共具有如下與辦公物業有關的

follows: 不可撤銷經營租賃項下未來最低

租賃付款總額：

As at

31 May

2019

於二零一九年

五月三十一日

HK$

港元

2,439

Later than one year and no later than 一年後及不遲於五年

five years

No later than one year

不遲於一年

668

3,107

As at

30 November

2019

於二零一九年

十一月三十日

HK$

港元

3,014

1,261

4,275

18. MATERIAL RELATED PARTY TRANSACTIONS

(a)

Balances with the immediate holding

company

Maximum

amount

outstanding

during the six

months ended

30 November

2019

於截至

二零一九年

十一月三十日

止六個月的

最大尚未償還

款項

HK$』000

千港元

18. 重大關聯方交易

(a) 與直接控股公司的結餘

Maximum

amount

outstanding

during the six

months ended As at As at

30 November 30 November 31 May

2018 2019 2019

於截至

二零一八年

十一月三十日

止六個月的

最大尚未償還於二零一九年於二零一九年

款項十一月三十日五月三十一日

HK$』000 HK$』000 HK$』000

千港元千港元千港元

Amount due from the 應收直接控股公司

immediate holding 款項

company— 301 — —

The amount due from the immediate holding company was 應收直接控股公司款項為無抵

unsecured, interest-free, repayable on demand and 押、免息、按要求償還及以港元

denominated in HK$. 計值。

(b) Compensation of key management personnel (b) 主要管理人員薪酬

Key management includes directors and other key 主要管理人員包括本集團旗下成

management of the companies in the Group. The 員公司的董事及其他主要管理人

compensation paid or payable to key management for 員。就僱員服務而已付或應付主

employee services is shown as below: 要管理人員的薪酬列示如下：

Three months ended Six months ended

30 November 30 November

截至十一月三十日止三個月截至十一月三十日止六個月

2018

2019

二零一九年

HK$』000

千港元

(Unaudited)

（未經審核）

2,135

107

2,242

2018

二零一八年

二零一八年

HK$』000

HK$』000

千港元

千港元

(Unaudited)

(Unaudited)

（未經審核）

（未經審核）

Salary, bonus and benefit 薪金、花紅及實物

in kind福利

2,474

5,147

Retirement benefit 退休福利計劃供款

scheme contribution

164

339

2019

二零一九年

HK$』000

千港元

(Unaudited)

（未經審核）

1,036

53

1,089

2,638

5,486

Six months ended

30 November 2019

截至二零一九年

十一月三十日止六個月

HK$』000

% of total

revenue

千港元

佔收益總額

的百分比

33,322 99.6

150 0.4

33,472 100.0

Six months ended

30 November 2019

截至二零一九年

十一月三十日止六個月

HK$』000

% of total

revenue

千港元

佔收益總額

的百分比

33,322 99.6

150 0.4

33,472 100.0

MANAGEMENT DISCUSSION AND

ANALYSIS

BUSINESS REVIEW

The Group is principally engaged in the provision of visual display solution

services.

During the six months ended 30 November 2019, the Group was

engaged in 172 pop concert shows for Hong Kong and non-Hong Kong

artists/bands (six months ended 30 November 2018: 222). The Group

derived approximately 71.3% of its total revenue during the six months

ended 30 November 2019 from pop concerts (six months ended 30

November 2018: approximately 83.1%), the majority of which took place

in Hong Kong, the PRC and Macau. The remainder of the Group’s

revenue was attributable to other live events, including corporate events,

exhibitions, sports and recreational events and other live performances, as

well as equipment rental.

FINANCIAL REVIEW

Revenue

The Group generates revenue from providing (i) visual display solutions to

its customers in relation to pop concert shows and various other live

events; and (ii) equipment rental.

The following table sets out a breakdown of the Group’s revenue by

source of income during the six months ended 30 November 2019 with

the comparative figures for the six months ended 30 November 2018:

Visual display solutions視像顯示解決方案

Equipment rental設備租賃

管理層討論及分析

業務回顧

本集團主要從事提供視像顯示解決方案服

務。

截至二零一九年十一月三十日止六個月，

本集團為香港及非香港藝人╱樂隊舉行了

172場流行音樂演唱會（截至二零一八年

十一月三十日止六個月：

222場）。截至二

零一九年十一月三十日止六個月，本集團

總收益的約71.3%來自流行音樂演唱會（截

至二零一八年十一月三十日止六個月：

約83.1%），大部分在香港、中國及澳門進

行。本集團餘下的收益則來自企業活動、展

覽、體育及休閒活動以及其他現場表演等

其他現場活動以及設備租賃。

財務回顧

收益

本集團從(i)為與流行音樂演唱會及多種其

他現場活動相關之客戶提供視像顯示解決

方案；及

(ii)設備租賃產生收益。

下表載列於截至二零一九年十一月三十日

止六個月本集團按收入來源劃分的收益明

細及截至二零一八年十一月三十日止六個

月之比較數字：

Six months ended

30 November 2018

截至二零一八年

十一月三十日止六個月

% of total

HK$』000 revenue

佔收益總額

千港元的百分比

52,189 99.9

37 0.1

52,226 100.0

Total總計

During the six months ended 30 November 2019, the Group principally 截至二零一九年十一月三十日止六個月，

derived its revenue from the provision of visual display solutions. The 本集團收益主要來自其提供視像顯示解決

Group’s revenue decreased by approximately 35.9% from approximately 方案。本集團收益由截至二零一八年十一

HK$52.2 million for the six months ended 30 November 2018 to 月三十日止六個月的約52.2百萬港元減少

approximately HK$33.5 million for the six months ended 30 November 約35.9%至截至二零一九年十一月三十日

2019.止六個月的約33.5百萬港元。

33

Visual display solutions

The following table sets out a breakdown of the Group’s revenue from

visual display solutions during the six months ended 30 November 2019

with the comparative figures for the six months ended 30 November

2018. For the purpose of revenue breakdown presentation, other live

events include corporate events, exhibitions, sports and recreation events,

and other live performances.

視像顯示解決方案

下表載列截至二零一九年十一月三十日止

六個月本集團來自視像顯示解決方案之收

益明細及截至二零一八年十一月三十日

止六個月之比較數字。就呈列收益明細而

言，其他現場活動包括企業活動、展覧、體

育及休閒活動以及其他現場表演。

Six months ended 30 November 2019 Six months ended 30 November 2018

截至二零一九年十一月三十日止六個月截至二零一八年十一月三十日止六個月

No. of

shows Revenue

% of total

revenue

from visual

display

solutions

Average

revenue

per show

No. of

shows Revenue

% of total

revenue

from visual

display

solutions

Average

revenue

per show

演出數目收益

佔

視像顯示

解決方案

總收益的

百分比

每場

演出的

平均收益演出數目收益

佔

視像顯示

解決方案

總收益的

百分比

每場

演出的

平均收益

(HK$』000) (HK$』000) (HK$』000) (HK$』000)

（千港元）（千港元）（千港元）（千港元）

Pop concerts流行音樂演唱會172 23,853 71.6 139 222 43,378 83.1 195

Other live events其他現場活動399 9,469 28.4 24 347 8,811 16.9 25

Total revenue from visual display

solutions

視像顯示解決方案

總收益571 33,322 100.0 58 569 52,189 100.0 92

The decrease in revenue from pop concerts was mainly attributable to (i)

the decrease in the number of pop concert shows undertaken by the

Group from 222 for the six months ended 30 November 2018 to 172 for

six months ended 30 November 2019 and (ii) the decrease in average

revenue per show for pop concerts from approximately HK$195,000 for

the six months ended 30 November 2018 to approximately HK$139,000

for the six month ended 30 November 2019 as a result of smaller scale

and less complex visual display effect concerts were demanded from our

customers.

The increase in revenue from other live events was mainly attributable to (i)

the increase in the number of other live events undertaken by the Group

from 347 for the six months ended 30 November 2018 to 399 for the six

months ended 30 November 2019 because the Group undertook more

corporate events in Hong Kong and Macau for the six months ended 30

November 2019 and (ii) the decrease in the average revenue per show for

other live events from approximately HK$25,000 for the six months

ended 30 November 2018 to approximately HK$24,000 for the six

months ended 30 November 2019.

流行音樂演唱會收益減少主要由於(i)本集

團所承接的流行音樂演唱會數量由截至二

零一八年十一月三十日止六個月的222場減

少至截至二零一九年十一月三十日止六個

月的172場及(ii)由於客戶對視像效果演唱會

的規模及複雜度的需求降低，導致流行音

樂演唱會的每場演出平均收益由截至二零

一八年十一月三十日止六個月的約195,000

港元減少至截至二零一九年十一月三十日

止六個月的約139,000港元。

來自其他現場活動的收益增加主要是由於

(i)截至二零一九年十一月三十日止六個月，

本集團承接更多香港及澳門的企業活動，

導致本集團所承接其他現場活動的數目由

截至二零一八年十一月三十日止六個月的

347場增至截至二零一九年十一月三十日

止六個月的399場及(ii)其他現場活動的每

場演出平均收益由截至二零一八年十一月

三十日止六個月的約25,000港元減少至截

至二零一九年十一月三十日止六個月的約

24,000港元。

Revenue analysis by geographical location

The following table sets out a breakdown of the revenue of the Group

from pop concert shows by geographical location during the six months

ended 30 November 2019 with comparative figures for the six months

ended 30 November 2018:

按地理位置劃分的收益分析

下表載列截至二零一九年十一月三十日止

六個月本集團按地理位置劃分的流行音樂

演唱會的收益明細及截至二零一八年十一

月三十日止六個月之比較數字：

Six months ended 30 November 2019 Six months ended 30 November 2018

截至二零一九年十一月三十日止六個月截至二零一八年十一月三十日止六個月

No. of

shows Revenue

% of total

revenue

from pop

concerts

Average

revenue

per show

No. of

shows Revenue

% of total

revenue

from pop

concerts

Average

revenue

per show

演出數目收益

佔流行

音樂

演唱會

總收益的

百分比

每場

演出的

平均收益演出數目收益

佔流行

音樂

演唱會

總收益的

百分比

每場

演出的

平均收益

(HK$』000) (HK$』000) (HK$』000) (HK$』000)

（千港元）（千港元）（千港元）（千港元）

Pop concerts流行音樂演唱會

Hong Kong香港77 8,414 35.3 109 112 9,386 21.7 84

PRC中國67 11,428 47.9 171 77 26,126 60.2 339

Macau澳門26 3,661 15.3 141 21 4,919 11.3 234

Others其他2 350 1.5 175 12 2,947 6.8 245

Total revenue from visual display

solutions for pop concerts

流行音樂演唱會的

視像顯示解決

方案總收益172 23,853 100.0 139 222 43,378 100.0 195

During the six months ended 30 November 2019, the Group has provided

services for (i) 2 well-known female Hong Kong artists total for 13 and 18

shows (six month ended 30 November 2018: Nil and Nil) respectively in

Hong Kong; (ii) a Taiwanese male artist for 17 shows (six months ended

30 November 2018: Nil) of concert tour in the PRC; and (iii) a Hong Kong

female artist for 14 shows (six months ended 30 November 2018: Nil) of

concert tour in the PRC.

於截至二零一九年十一月三十日止六個

月，本集團為

(i)兩名知名香港女藝人分別在

香港舉行的13場及18場演出（截至二零一八

年十一月三十日止六個月：無及無）；(ii)一

名臺灣男藝人在中國舉行的17場巡迴演出

（截至二零一八年十一月三十日止六個月：

無）；及

(iii)一名香港女藝人在中國舉行的

14

場巡迴演出（截至二零一八年十一月三十日

止六個月：無）提供服務。

The following table sets out a breakdown of the revenue of the Group 下表載列截至二零一九年十一月三十日止

from other live events by geographical location during the six months 六個月本集團按地理位置劃分的其他現場

ended 30 November 2019 with comparative figures for the six months 活動的收益明細及截至二零一八年十一月

ended 30 November 2018: 三十日止六個月之比較數字：

Six months ended 30 November 2019 Six months ended 30 November 2018

截至二零一九年十一月三十日止六個月截至二零一八年十一月三十日止六個月

No. of

shows Revenue

% of total

revenue

from other

live events

Average

revenue

per show

No. of

shows Revenue

% of total

revenue

from other

live events

Average

revenue

per show

演出數目收益

佔其他

現場活動

總收益的

百分比

每場

演出的

平均收益演出數目收益

佔其他

現場活動

總收益的

百分比

每場

演出的

平均收益

(HK$』000) (HK$』000) (HK$』000) (HK$』000)

（千港元）（千港元）（千港元）（千港元）

Other live events其他現場活動

Hong Kong香港328 5,043 53.3 15 194 3,765 42.7 19

PRC中國4 654 6.9 164 4 52 0.6 13

Macau澳門67 3,772 39.8 56 149 4,994 56.7 34

Total revenue from other live

events

來自其他現場活動

的總收益399 9,469 100.0 24 347 8,811 100.0 25

Gross profit and gross profit margin

The gross profit of the Group for the six months ended 30 November

2019 amounted to approximately HK$10.7 million (six months ended 30

November 2018: approximately HK$27.7 million), representing a gross

profit margin of approximately 32% (six months ended 30 November

2018: approximately 53%). The decrease in the gross profit margin was

mainly attributable to the decrease in the number of pop concerts

undertaken by the Group and the decrease in the average revenue per

pop concert show undertaken by the Group.

Income tax expense

The Group is subject to income tax on an enterprise basis on profits

arising in or derived from the jurisdictions in which members of the Group

are domiciled and operate.

During the six months ended 30 November 2019 and 2018, all PRC

subsidiaries of the Company were subject to the PRC Enterprise Income

Tax at the rate of 25.0%.

毛利及毛利率

截至二零一九年十一月三十日止六個月，

本集團的毛利約為10.7百萬港元（截至二零

一八年十一月三十日止六個月：約

27.7百萬

港元），毛利率約為

32%（截至二零一八年

十一月三十日止六個月：約

53%）。毛利率

降低乃主要由於本集團承接的流行音樂演

唱會數量減少以及本集團承接的流行音樂

演唱會的場均收益減少。

所得稅開支

本集團須就產生或源自本集團成員公司所

處及經營所在司法權區的溢利繳納企業所

得稅。

於截至二零一九年及二零一八年十一月

三十日止六個月，本公司的所有中國附屬

公司按25.0%稅率繳納中國企業所得稅。

The Hong Kong subsidiary of the Company was subject to Hong Kong

profits tax at the rate of 16.5% on the estimated assessable profits during

the six months ended 30 November 2019. Pursuant to the enactment of

two-tiered profit tax rates issued by the Inland Revenue Department (「IRD」)

from the year of assessment 2018/19 onwards, the Group’s first HK$2

million of assessable profits under Hong Kong profits tax for the six

months ended 30 November 2019 is subject to a tax rate of 8.25%, while

the remaining assessable profits are subject to a tax rate of 16.5%.

The Macau subsidiary of the Company was subject to Macau

complementary tax at the rate of 12.0% on the estimated assessable

income exceeding MOP600,000 during the six months ended 30

November 2019.

The effective income tax rate of the Group was approximately -0.3% for

the six months ended 30 November 2019 (six months ended 30

November 2018: approximately 16.8%).

Profit for the period

As a result of the foregoing, the Group’s loss was approximately HK$5.7

million for the six months ended 30 November 2019 representing a

decrease of approximately HK$20.1 million or approximately 139% as

compared with that for the corresponding period in 2018. The decrease

in profit for the six months period 30 November 2019 was primarily

attributable to (i) the decrease in the number of pop concerts undertaken

by the Group and the decrease in the average revenue per pop concert

show undertaken by the Group leading to a decrease in gross profit as

compared to the same period in 2018; (ii) the accrual of non-recurring

professional expenses for the proposed transfer of listing of the Company

from GEM to the Main Board of the Stock Exchange as referred to in the

announcement of the Company dated 19 August 2019; and (iii) local

economic and social uncertainties such as social unrest and related

demonstrations in Hong Kong during the Period.

LIQUIDITY AND CAPITAL RESOURCES

Financial Resources, Liquidity and Capital Structure

The Group finances its operations primarily through cash generated from

operating activities and interest-bearing bank borrowing, overdrafts and

finance leases. The Group recorded net current assets of approximately

HK$31.6 million as at 30 November 2019 (31 May 2019: approximately

HK$49.4 million).

於截至二零一九年十一月三十日止六個

月，本公司之香港附屬公司按

16.5%的稅率

就估計應課稅溢利繳納香港利得稅。根據

稅務局（「稅務局」）自二零一八╱一九課稅年

度起發出的兩級制利得稅稅率，本集團截

至二零一九年十一月三十日止六個月之首

批香港利得稅項下應課稅溢利2百萬港元按

稅率

8.25%計算，而剩餘應課稅溢利按稅率

16.5%計算。

截至二零一九年十一月三十日止六個月，

本公司之澳門附屬公司須就估計應課稅收

入超過600,000澳門元的部分按12.0%稅率

繳納澳門所得補充稅。

截至二零一九年十一月三十日止六個月，

本集團的實際所得稅稅率約為–0.3%（截

至二零一八年十一月三十日止六個月：約

16.8%）。

期內溢利

由於以上因素，截至二零一九年十一月

三十日止六個月，本集團虧損約為

5.7百萬

港元，較二零一八年同期減少約

20.1百萬港

元或約139%。截至二零一九年十一月三十

日止六個月的溢利減少乃主要由於(i)本集

團承接的流行音樂演唱會數量減少以及本

集團承接的流行音樂演唱會的場均收益減

少，導致毛利較二零一八年同期減少；

(ii)本

公司建議由聯交所

GEM轉至主板上市（如本

公司日期為二零一九年八月十九日的公告

所述）產生的應計非經常性專業費用；及

(iii)

本期間香港本地社會不穩定及相關遊行等

經濟及社會不確定性因素。

流動資金及資本資源

財務資源、流動資金及資本架構

本集團主要通過經營活動產生的現金及計

息銀行借款、透支及融資租賃為其經營提

供資金。本集團於二零一九年十一月三十

日錄得流動資產淨額約為31.6百萬港元（二

零一九年五月三十一日：約

49.4百萬港元）。

As at 30 November 2019, the Group’s current ratio was approximately 2.0

(31 May 2019: approximately 2.7) and the Group’s gearing ratio

calculated based on the total debt at the end of the period divided by

total equity at the end of the period was approximately 4.2% (31 May

2019: approximately 7.6%). The decrease of the Group’s gearing ratio in

the six months ended 30 November 2019 was mainly due to decrease in

bank borrowings.

As at 30 November 2019, the maximum limit of the banking facilities

available to the Group amounted to HK$6.8 million. The banking facilities

were granted by a bank to a wholly-owned subsidiary of the Company,

as borrower and subject to the conditions that (i) Mr. Yeung Ho Ting

Dennis (「Mr. Yeung」), the chairman and the chief executive officer of the

Company, shall maintain his directorship in the Company and (ii) Mr.

Yeung shall remain the major shareholder of the Company with

shareholding interest, directly or indirectly, of not less than 51%. The

bank borrowings were denominated in Hong Kong dollars, repayable

within one year or on demand and interest-bearing at floating rates from

5.6% to 5.9% per annum (30 November 2018: 5.6% to 5.9% per

annum).

As at 30 November 2019, the capital structure of the Group consisted of

equity attributable to owners of the Company of approximately HK$124.2

million, comprising issued share capital and reserves.

There has been no change in the capital structure of the Group since the

Listing Date.

FOREIGN CURRENCY EXPOSURE RISKS

The Group operates mainly in Hong Kong and is exposed to foreign

exchange risk arising from various currency exposures, primarily with

respect to certain purchases with United States dollars (「US$」), Macau

Patacas (「MOP」) and certain sales with Renminbi (「RMB」). Foreign

exchange risk arises when future commercial transactions, recognised

assets and liabilities are denominated in a currency that is not the group

entities』 functional currency. The Group however did not engage in any

derivatives agreements and did not commit to any financial instrument to

hedge its foreign exchange exposure during the six months ended 30

November 2019.

於二零一九年十一月三十日，本集團的流

動比率約為2.0（二零一九年五月三十一日：

約2.7）及本集團的資產負債比率以期末債

務總額除以期末權益總額計算約為4.2%（二

零一九年五月三十一日：約

7.6%）。本集

團資產負債比率於截至二零一九年十一月

三十日止六個月下降主要是由於銀行借款

減少所致。

於二零一九年十一月三十日，本集團最大

限額銀行融資為6.8百萬港元。該等銀行融

資乃由一間銀行授予本公司的一間全資附

屬公司（作為借款人），並受限於下列條件：

(i)本公司主席兼行政總裁楊浩廷先生（「楊先

生」）將繼續擔任本公司董事職務，及

(ii)楊先

生將繼續為本公司主要股東，而其直接或

間接股權不得少於

51%。銀行借款以港元

計值，須於一年內或按要求償還，並按浮動

年利率介乎5.6%至5.9%（二零一八年十一

月三十日：年利率介乎

5.6%至5.9%）計息。

於二零一九年十一月三十日，本集團資本

架構包括本公司擁有人應佔之權益約

124.2

百萬港元（包括已發行股本及儲備）。

自上市日期起，本集團資本架構概無變動。

外匯風險

本集團主要在香港經營，並面臨各種貨幣

風險所引起的外匯風險，主要指若干以美

元（「美元」）、澳門元（「澳門元」）進行的購買

及若干以人民幣（「人民幣」）進行的出售。當

未來商業交易、確認資產及負債不是以集

團實體功能貨幣計值時，則會出現外匯風

險。然而，於截至二零一九年十一月三十日

止六個月，本集團並未涉及任何衍生工具

協議及並無訂立任何金融工具以對沖外匯

風險。

TREASURY POLICIES

The Group has adopted a prudent financial management approach

towards its treasury policies and thus maintained a healthy liquidity

position throughout the six months ended 30 November 2019. The

Group strives to reduce exposure to credit risk by performing ongoing

credit assessments and evaluations of the financial status of its customers.

To manage liquidity risk, the Board closely monitors the Group’s liquidity

position to ensure that the liquidity structure of the Group’s assets,

liabilities and other commitments can meet its funding requirements from

time to time.

SIGNIFICANT INVESTMENTS, MATERIAL

ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES

During the six months ended 30 November 2019, the Group did not have

any significant investments, material acquisitions nor disposals of

subsidiaries and affiliated companies.

CAPITAL COMMITMENTS AND CONTINGENT

LIABILITIES

As at 30 November 2019, the Group did not have any material capital

commitments or any material contingent liabilities.

DIVIDEND

The Board does not recommend the payment of a dividend for the six

months ended 30 November 2019.

PLEDGE OF ASSETS

As at 30 November 2019, the Group has pledged short-term bank

deposits in the amount of HK$3.0 million as security for the Group’s

banking facilities (31 May 2019: approximately HK$3.0 million).

庫務政策

本集團對其庫務政策採取審慎的財務管理

方法，因此截至二零一九年十一月三十日

止六個月整段期間保持了健康的流動資金

狀況。本集團力求通過持續的信貸評估及

對其客戶財務狀況進行評估以降低信用風

險。為管理流動性風險，董事會密切監察本

集團的流動資金狀況，確保本集團資產、負

債及其他承擔的流動性結構滿足其不時之

資金需求。

重大投資、重大收購及出售附屬

公司

截至二零一九年十一月三十日止六個月，

本集團並無任何重大投資、重大收購或出

售附屬公司及聯屬公司。

資本承擔及或有負債

於二零一九年十一月三十日，本集團並無

任何重大資本承擔或任何重大或有負債。

股息

董事會不建議派付截至二零一九年十一月

三十日止六個月之股息。

資產抵押

於二零一九年十一月三十日，本集團的已

抵押短期銀行存款為3.0百萬港元，作為

本集團銀行融資之抵押（二零一九年五月

三十一日：約

3.0百萬港元）。

COMPARISON OF IMPLEMENTATION PLANS FOR

BUSINESS STRATEGIES WITH ACTUAL

IMPLEMENTATION PROGRESS

The following is a comparison of the Group’s implementation plans for its

business strategies up to 30 November 2019 as set out in the section

headed 「Statement of Business Objectives and Use of Proceeds」 in the

Prospectus and the announcement for the change of proposed use of the

net proceeds published on 28 August 2018 (the 「Announcement」) with

the Group’s actual implementation progress:

Implementation plans as stated in the Prospectus

Business strategies and the Announcement

業務策略招股章程及該公告所載推行計劃

業務策略推行計劃與實際推行進

度的比較

以下為本集團如招股章程「業務目標聲明及

所得款項用途」一節及於二零一八年八月

二十八日刊發之變更所得款項淨額建議用

途的公告（「該公告」）所載直至二零一九年

十一月三十日的業務策略推行計劃與本集

團實際推行進度的比較：

Actual implementation progress up to

30 November 2019

直至二零一九年十一月三十日的實際推行進度

Expand the Group’s . Acquire additional LED panels and video control . The procurement of additional LED panels and

business in Shanghai units video control units has been completed

於上海擴展本集團的. 收購額外LED顯示屏及視像控制單元

. 已完成採購額外LED顯示屏及視像控制單元

業務

Recruit staff for the Group’s . Recruit more staff for the business expansions in . 12 staff were recruited for the business expansions

business expansions in Macau in MacauMacau

為本集團於澳門擴展. 招聘更多員工以於澳門擴展業務

. 招募12名員工以於澳門擴展業務

業務招聘員工

Develop a tracking system . Implement the tracking system . The tracking system is under trial run and testings

to enhance the Group’s in Hong Kong and PRC. The management of the

equipment management Group expect that it will go live in 2020.

and utilisation

開發追蹤系統以加強. 推行追蹤系統

. 追蹤系統正在香港及中國進行試運行及測試。

本集團的設備管理及本集團管理層預計該系統將在二零二零年投入

利用

使用。

USE OF PROCEEDS 所得款項用途

Net proceeds from the placing and public offer of the Company’s shares 經扣除包銷佣金及其他上市開支後，來自

for the Listing were approximately HK$34.5 million (the 「Net Proceeds」), 本公司股份上市的配售及公開發售所得

after deducting the underwriting commissions and other listing expenses. 款項淨額約為34.5百萬港元（「所得款項淨

The Company announced on 28 August 2018 for the change of proposed 額」）。本公司於二零一八年八月二十八日

use of the Net Proceeds. For details, please refer to the announcement 宣佈變更所得款項淨額建議用途。有關詳

published on 28 August 2018. As at 30 November 2019, all the Net 情，請參閱二零一八年八月二十八日刊發

Proceeds have been utilised. Set out below are details of the original 的公告。於二零一九年十一月三十日，全部

allocation of the Net Proceeds, the revised allocation of the Net Proceeds 所得款項淨額已獲動用。下文載列於二零

and the utilisation of the Net Proceeds as at 30 November 2019: 一九年十一月三十日的所得款項淨額的原

訂分配、所得款項淨額的經修訂分配及所

得款項淨額的使用情況：

Revised Amount Unutilised

allocation as utilised as at amount at

Original at 28 August 30 November 30 November

allocation 2018 2019 2019

於二零一八年於二零一九年於二零一九年

八月二十八日十一月三十日十一月三十日

原訂分配經修訂分配已動用金額未動用金額

(HK$ million) (HK$ million) (HK$ million) (HK$ million)

（百萬港元）（百萬港元）（百萬港元）（百萬港元）

approximately approximately approximately approximately

約約約約

Repayment of bank loans償還銀行貸款

9.9 9.9 9.9 —

Acquisition of visual display equipment收購視像顯示設備

11.6 11.6 11.6 —

Settlement of payables結算應付款項

10.6 10.6 10.6 —

Recruitment of a creative director招聘創作總監

1.7 — — —

Recruitment of staff for the Group’s business 為本集團於澳門業務

expansions in Macau擴展招聘員工

— 1.7 1.7 —

Working capital (after deducting 營運資金（扣除相關

the relevant expenses)費用後）

0.7 0.7 0.7 —

Total總計

34.5 34.5 34.5 —

PRINCIPAL RISKS AND UNCERTAINTIES

主要風險及不明朗因素

The business operations and results of the Group may be affected by 本集團之業務營運及業績受多項因素影

various factors, some of which are external causes and some are inherent 響，當中有部分為外部因素，有部分則為與

to the business. The principal risks and uncertainties are summarized as 業務有關的固有因素。主要風險及不明朗

follows: 因素概述如下：

Directors』 approach to addressing

Principal risks and uncertainties facing the Group these risks and uncertainties

本集團所面臨之主要風險及不明朗因素董事處理該等風險及不明朗因素的方法

.

Failure to obtain new orders could materially affect . The Group has constantly built up good relationship with

the Group’s financial performance key customers and actively solicited new customers

.

無法取得新訂單或會對本集團之財務表現造成重. 本集團一直與主要客戶建立良好關係，並積極與新客

大影響

戶接洽

.

The Group relies on the performance of its project . The Group has constantly provided training to project

management staff management staff to enhance their performance

.

本集團依賴其項目管理員工的表現

. 本集團一直提供培訓予項目管理員工，以改善彼等的

表現

.

The Group relies on its ability to successfully meet . The Group has a dedicated project team to work closely

customers』 requirements by delivering its visual display with the customers for delivery of services in a timely

solutions in a timely manner manner

.

本集團依賴其透過及時提供視像顯示解決方案以. 本集團具備專責項目團隊，與客戶緊密合作，以及時

成功滿足客戶要求的能力

提供服務

.

The Group relies on its equipment suppliers to supply . The Group has a dedicated technical team to closely

equipment for certain projects and its subject to risk monitor the development and manufacturing process of

arising from the late performance or poor the relevant equipment in the production sites of the

performance by such suppliers equipment suppliers to ensure the relevant equipment is

produced with agreed standard in a timely manner

.

本集團依賴其設備供應商就若干項目供應設備，. 本集團具備專業技術團隊以於設備供應商的生產現場

並承受有關供應商延遲履約或表現欠佳的風險

密切監察相關設備之開發及製作過程，以確保相關設

備乃按協定標準及時生產

EMPLOYEES AND REMUNERATION POLICIES 僱員及薪酬政策

As at 30 November 2019, the Group engaged a total of 96 employees (30 於二零一九年十一月三十日，本集團共聘

November 2018: 98) including the Directors. For the six months ended 30 用96名僱員（二零一八年十一月三十日：

November 2019, total staff costs amounted to approximately HK$10.1 98名），其中包括董事。截至二零一九年

million (six months ended 30 November 2018: approximately HK$9.9 十一月三十日止六個月，員工成本總額約

million). Remuneration (including employees』 benefits) is maintained at an 為10.1百萬港元（截至二零一八年十一月

attractive level and reviewed on a periodic basis. Employees』 salary and 三十日止六個月：約

9.9百萬港元）。薪酬

relevant benefits are determined on the basis of performance, （包括僱員福利）維持在有吸引力的水平，

qualification, experience, positions and the Group’s business performance. 並定期審查。僱員薪酬及相關福利乃根據

彼等的表現、資質、經驗、職位以及本集團

業務表現確定。

EVENTS AFTER THE REPORTING PERIOD

As from 30 November 2019 to the date of this report, save as disclosed in

this report, the Board is not aware of any significant events requiring

disclosure that have occurred.

INTERESTS OF THE COMPLIANCE ADVISER

As at 30 November 2019, neither Shenwan Hongyuan Capital (H.K.)

Limited, the compliance adviser of the Company, nor any of its directors,

employees or close associates had any interests in the securities of the

Company or any other companies in the Group (including option or rights

to subscribe for such securities) pursuant to Rule 6A.32 of the GEM

Listing Rules.

AUDIT COMMITTEE

The Company has established an audit committee on 19 May 2017 (「Audit

Committee」) with written terms of reference in compliance with Rules 5.28

to 5.29 of the GEM Listing Rules. The primary duties of the Audit

Committee are to review the Company’s draft annual, interim and

quarterly financial reports and accounts and to provide advice and

comments thereon to the Board. The Audit Committee is also responsible

for reviewing and supervising the financial reporting process and internal

control procedures of the Group. The Audit Committee currently

comprises three independent non-executive Directors, namely Mr. Li Kai

Sing (Chairman), Mr. Ma Tsz Chun and Ms. Loh Lai Ping Phillis.

The Audit Committee has reviewed this report and the unaudited

condensed consolidated results of the Group for the six months ended 30

November 2019 and the effectiveness of internal control system.

PURCHASE, SALE OR REDEMPTION OF THE

COMPANY』S LISTED SECURITIES

The Directors confirm that during the six months ended 30 November

2019, there has been no purchase, sale or redemption of the Company’s

listed securities.

DIRECTORS』 AND CONTROLLING SHAREHOLDERS』

INTERESTS IN COMPETING BUSINESS

During the six months ended 30 November 2019, the Directors are not

aware of any business and interest of the Directors nor the controlling

shareholders of the Company nor any of their respective close associates (as

defined in the GEM Listing Rules) that compete or may compete with the

business of the Group and any other conflict of interests which any such

person has or may have with the Group.

報告期後事項

自二零一九年十一月三十日起至本報告日

期，除本報告所披露者外，董事會並不知悉

有發生任何須予披露的重大事件。

合規顧問之權益

於二零一九年十一月三十日，根據

GEM上

市規則第

6A.32條，本公司合規顧問申萬宏

源融資（香港）有限公司及其任何董事、僱

員或緊密聯繫人概無於本公司或本集團任

何其他公司證券擁有任何權益（包括認購該

等證券的期權或權利）。

審核委員會

本公司已遵照GEM上市規則第5.28條至第

5.29條於二零一七年五月十九日成立審核

委員會（「審核委員會」），並訂有書面職權

範圍。審核委員會主要職責為審查本公司

的年度、中期及季度財務報告之草擬本及

賬目，並就此向董事會提供建議及意見。審

核委員會亦負責審查及監督財務申報過程

及本集團內部控制程序。審核委員會目前

由三名獨立非執行董事（即李啟承先生（主

席）、馬時俊先生及羅麗萍女士）組成。

審核委員會已審閱本報告及本集團截至二

零一九年十一月三十日止六個月之未經審

核簡明綜合業績及內部控制制度的有效性。

購買、出售或贖回本公司上市證

券

董事確認，截至二零一九年十一月三十日

止六個月，本公司概無購買、出售或贖回上

市證券。

董事及控股股東在競爭業務中的

權益

截至二零一九年十一月三十日止六個月，

董事並不知悉董事或本公司控股股東或彼

等各自的任何緊密聯繫人（定義見

GEM上市

規則）擁有任何對本集團業務構成或可能構

成競爭的業務及權益，亦不知悉任何有關

人士與本集團存在或可能存在任何其他利

益衝突。

DIRECTORS』 SECURITIES TRANSACTIONS

The Company has adopted a code of conduct regarding directors』

securities transactions on terms no less exacting than the required

standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing

Rules. Having made specific enquiries of all Directors, the Company

confirms that all of the Directors complied with such required standard of

dealings and its code of conduct regarding directors』 securities

transactions during the six months ended 30 November 2019.

INTERESTS AND SHORT POSITIONS OF DIRECTORS

AND CHIEF EXECUTIVE IN THE SHARES,

UNDERLYING SHARES AND DEBENTURES OF THE

COMPANY AND ITS ASSOCIATED CORPORATIONS

As at 30 November 2019, the interests and short positions of the

Directors and the chief executive of the Company in the shares,

underlying shares or debentures of the Company or its associated

corporations (within the meaning of Part XV of the Securities and Futures

Ordinance (「SFO」)) as (i) recorded in the register required to be kept

under section 352 of the SFO, or (ii) otherwise notified to the Company

and the Stock Exchange pursuant to the required standard of dealings by

directors of listed issuer as referred to in Rule 5.46 of the GEM Listing

Rules, were as follows:

(i) Interests in the Company

Capacity/

Name of Director Nature of interest

董事姓名

身份╱權益性質

董事證券交易

本公司已採納一套董事證券交易行為守

則，其條款不遜於

GEM上市規則第5.48條至

第5.67條所載之規定交易標準。本公司對所

有董事作出具體查詢後，確認所有董事於

截至二零一九年十一月三十日止六個月均

遵守所規定的交易標準及董事證券交易行

為守則。

董事及主要行政人員於本公司及

其相聯法團的股份、相關股份及

債權證中的權益及淡倉

於二零一九年十一月三十日，董事及本公

司主要行政人員於本公司或其相聯法團（定

義見證券及期貨條例（「證券及期貨條例」）

第XV部）的股份、相關股份或債權證中，

擁有(i)記入根據證券及期貨條例第352條須

備存的登記冊內的權益及淡倉，或

(ii)根據

GEM上市規則第5.46條所述的上市發行人

董事進行交易的規定標準另行知會本公司

及聯交所的權益及淡倉如下：

(i) 於本公司之權益

Number of

Shares

(Note 1)

股份數目

（附註

1）

Percentage of

shareholding

股權百分比

Mr. Yeung Ho Ting Dennis Interest in a controlled corporation (Note 2) 600,000,000 (L) 75.0%

(「Mr. Yeung」)

楊浩廷先生（「楊先生」）受控法團權益（附註

2）

Notes:

附註：

1. The letter 「L」 denotes the person’s long position in the Shares.

1. 字母「

L」指該人士於股份之好倉。

2. Next Vision was beneficially owned by Mr. Yeung as to 75%. By virtue of the

2. 楊先生實益擁有Next Vision的75%權益。根

SFO, Mr. Yeung was deemed to be interested in the Shares held by Next Vision.

據證券及期貨條例，楊先生被視為於

Next

Vision持有的股份中擁有權益。

(ii) Interests in associated corporation of the

Company

(ii) 於本公司的相聯法團之權益

Number of

Name of Director

董事姓名

Name of

associated corporation Capacity

shares

(Note 1)

股份數目

Percentage of

shareholding

相聯法團名稱身份（附註

1）股權百分比

Mr. Yeung Next Vision (Note 2) Beneficial owner 7,500 (L) 75%

楊先生

Next Vision（附註

2）實益擁有人

Notes:

1.

The letter 「L」 denotes the person’s long position in the Shares.

2.

Next Vision held 75% of issued Shares and was therefore a holding company of

the Company.

Save as disclosed above, as at 30 November 2019, none of the Directors

or the chief executive of the Company had any interests or short positions

in the shares, underlying shares or debentures of the Company or its

associated corporations (within the meaning of Part XV of the SFO) which

were (i) recorded in the register required to be kept under section 352 of

the SFO or (ii) otherwise notified to the Company and the Stock Exchange

pursuant to the required standard of dealings by directors of listed issuer

as referred to in Rule 5.46.

附註：

1.

字母「

L」指該人士於股份之好倉。

2.

Next Vision持有75%的已發行股份，故為

本公司的控股公司。

除上文所披露者外，於二零一九年十一月

三十日，概無董事或本公司主要行政人員

於本公司或其相聯法團（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，擁有任何

(i)記入根據證券及期貨條例第

352條須備存的登記冊內的權益或淡倉或(ii)

根據第5.46條所述的上市發行人董事進行

交易的規定標準另行知會本公司及聯交所

的權益或淡倉。

INTERESTS AND SHORT POSITIONS OF THE

SUBSTANTIAL SHAREHOLDERS AND OTHER

PERSONS IN SHARES AND UNDERLYING SHARES

As at 30 November 2019, so far as it is known to the Directors, the

following persons (not being a Director or chief executive of the

Company) had or were deemed to have interests or short positions in

Shares or underlying Shares which were recorded in the register required

to be kept by the Company under Section 336 of the SFO:

(i)

Long positions in Shares

Capacity/

Name of shareholder Nature of interest

股東名稱

身份╱權益性質

主要股東及其他人士於股份及相

關股份中擁有的權益及淡倉

於二零一九年十一月三十日，就董事所

知，以下人士（並非董事或本公司主要行政

人員）於股份或相關股份中擁有或被視為擁

有記入根據證券及期貨條例第336條本公司

須備存的登記冊的權益或淡倉：

(i) 於股份的好倉

Number of

Shares held/

Interested

(Note 1)

持有╱擁有

權益股份數目

（附註

1）

Percentage of

shareholding

股權百分比

Next Vision

Beneficial owner (Note 2)

Next Vision

實益擁有人（附註

2）

Notes:

1.

The letter 「L」 denotes the person’s long position in the Shares.

2.

Next Vision was beneficially owned by Mr. Yeung as to 75%. By virtue of the

SFO, Mr. Yeung was deemed to be interested in Shares held by Next Vision.

Save as disclosed above, as at 30 November 2019, the Directors have not

been notified by any person who had interests or short positions in the

Shares or underlying Shares which were recorded in the register required

to be kept under Section 336 of the SFO, or which would fall to be

disclosed under the provisions of Divisions 2 and 3 of Part XV of the SFO.

SHARE OPTION SCHEME

The Company conditionally adopted a share option scheme (the 「Scheme」)

on 19 May 2017. The terms of the Scheme are in accordance with the

provisions of Chapter 23 of the GEM Listing Rules. No share option has

been granted since the adoption of the Scheme and there was no share

option outstanding as at 30 November 2019.

600,000,000 (L) 75.0%

附註：

1.

字母「

L」指該人士於股份之好倉。

2.

楊先生實益擁有Next Vision的75%權益。根

據證券及期貨條例，楊先生被視為於

Next

Vision持有的股份中擁有權益。

除上文所披露者外，於二零一九年十一月

三十日，概無任何人士知會董事彼於股份

或相關股份中擁有記入根據證券及期貨條

例第336條須備存的登記冊內，或根據證券

及期貨條例第XV部第2及3分部的條文須予

披露的權益或淡倉。

購股權計劃

本公司於二零一七年五月十九日有條件地

採納購股權計劃（「該計劃」）。該計劃之條款

符合

GEM上市規則第

23章之條文。自採納

該計劃以來概無授予購股權及於二零一九

年十一月三十日概無未行使之購股權。

CORPORATE GOVERNANCE

The Company is firmly committed to maintaining and ensuring a high

level of corporate governance standards and will review and improve the

corporate governance practices and standards constantly. Except for the

deviation from code provision A.2.1 of the CG Code (as defined below),

the Company has complied with the code provisions set out in the CG

Code (as defined below) contained in Appendix 15 to the GEM Listing

Rules (the 「CG Code」) during the six months ended 30 November 2019.

Code provision A.2.1 of the CG Code stipulates that the roles of chairman

and chief executive should be separate and should not be performed by

the same individual. Mr. Yeung is both the chairman of the Board and the

chief executive officer of the Company. In view of Mr. Yeung’s role in

day-to-day operations and management of the Group since April 2009,

the Board believes that it is in the best interest of the Group to have Mr.

Yeung taking up both roles for effective management and business

development. Therefore, the Directors consider that the deviation from

the code provision A.2.1 of the CG Code is appropriate in such

circumstance and the Board is of the view that this management structure

is effective for the Group’s operations and sufficient checks and balances

are in place.

COMMUNICATION WITH SHAREHOLDERS

The Company believes that maintaining a high level of transparency is a

key to enhancing investor relations. It is committed to a policy of open

and timely disclosure of corporate information to its shareholders and

investment public. The Company updates the shareholders on its latest

business developments and financial performance through its quarterly,

interim and annual reports and communicates with the shareholders

through annual general meetings and extraordinary general meetings. In

compliance with the requirements of the GEM Listing Rules, the Company

issued regular reports, announcements, circulars and notice of general

meetings. Always updated with the latest information, the corporate

website of the Company (www.intechproductions.com) has provided an

effective communication platform to the public and the shareholders.

企業管治

本公司堅定不移地維持及確保保持高水準

的企業管治標準，不斷檢討及完善企業管

治常規及標準。除偏離企業管治守則（定義

如下）第

A.2.1條守則條文外，本公司於截至

二零一九年十一月三十日止六個月已遵守

GEM上市規則附錄15所載企業管治守則（定

義如下）（「企業管治守則」）所載守則條文。

企業管治守則第A.2.1條守則條文規定主

席及行政總裁的角色應分開，不得由同一

人擔任。楊先生為本公司之董事會主席兼

行政總裁。鑒於楊先生自二零零九年四月

起於本集團擔任日常營運及管理方面的角

色，董事會相信楊先生擔任有效管理及業

務開發的角色符合本集團的最佳利益。因

此，董事認為，在該情況下，偏離企業管治

守則第A.2.1條守則條文乃屬適當，且董事

會認為，該管理架構對本集團的營運及充

分檢查及制衡乃屬有效。

股東通訊

本公司認為保持高水準的透明度是加強投

資者關係的關鍵。本公司秉持向股東及公

眾投資者公開及時披露企業資訊的政策。

本公司通過季度、中期及年度報告向股東

更新最新業務發展情況和財務業績，並通

過股東週年大會及股東特別大會與股東溝

通。按照

GEM上市規則的規定，本公司定

期發佈報告、公告、通函及股東大會通告。

本公司的公司網站(www.intechproductions.

com)會持續發佈最新資訊，為公眾及股東

提供了有效的溝通平臺。

OUTLOOK

The Group will make steady progress in accordance with the plans

formulated before the Listing and its actual operational conditions, so as

to facilitate effective implementation of the business objectives of the

Company and bring benefits from it.

The Board will also proactively seek potential business opportunities in

other segment of the value chain of the live events industry including

content distributors and production specialists (other than visual display

solutions) and explore the possibility to expand the application of the

Group’s visual display solutions to industries other than live events

industry and widen the geographical coverage of the Group so as to

broaden the sources of income of the Group and enhance value to the

shareholders.

In the future, the Board believes that the Group will achieve another

breakthrough in terms of its business performance by leveraging on its

advantages, in particular with its wide variety of visual display equipment

and innovative professional management with strong knowhow.

By order of the Board

In Technical Productions

Holdings Limited

Yeung Ho Ting Dennis

Chairman

Hong Kong, 7 January 2020

展望

本集團將按照上市前制定的規劃，並結合

實際運營情況穩步推進業務發展，以有效

落實本公司的各項業務目標並從中獲利。

董事會亦將積極探求現場活動行業價值鏈

之其他分部（包括內容分銷商及製作專家

（視像展示解決方案除外）

））的潛在商機，並

探討將本集團視像展示解決方案應用擴展

至其他非現場活動行業的可能性，以擴展

本集團的地域覆蓋範圍，及拓闊本集團的

收入來源及提升股東價值。

未來，董事會相信，透過善用本集團自身的

優勢（尤其是其視像顯示設備種類眾多，且

勇於創新的專業管理層擁有深厚的知識），

本集團的業務表現將再創突破。

承董事會命

In Technical Productions

Holdings Limited

主席

楊浩廷

香港，二零二零年一月七日

　 中財網