Brightstar Technology Group Co., Ltd — Interim / Quarterly Report 2019

Oct 9, 2018

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, 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 announcement.

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IN TECHNICAL PRODUCTIONS HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8446)

ANNOUNCEMENT OF FIRST QUARTER RESULTS FOR THE THREE MONTHS ENDED 31 AUGUST 2018

The board (the ‘‘Board’’) of directors (the ‘‘Directors’’) of In Technical Productions Holdings Limited (the ‘‘Company’’) is pleased to announce the unaudited results of the Company and its subsidiaries for the three months ended 31 August 2018 (the ‘‘Period’’). This announcement, containing the full text of the first quarterly report of the Company for the Period, complies with the relevant requirements of the Rules (the ‘‘GEM Listing Rules’’) Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’) in relation to information to accompany preliminary announcement of first quarter results for the Period. Printed version of the Company’s first quarterly report for the Period will be despatched to the shareholders of the Company and available for viewing on the GEM website at www.hkgem.com and the Company’s website at www.intechproductions.com on or before 15 October 2018.

By order of the Board

In Technical Productions Holdings Limited Yeung Ho Ting Dennis Chairman

Hong Kong, 9 October 2018

As at the date of this announcement, the Board comprises two executive Directors, namely, Mr. Yeung Ho Ting Dennis and Mr. Tam Chun Yu; one non-executive Director, namely, Mr. Law Wang Chak Waltery; and three independent non-executive Directors, namely, Mr. Li Kai Sing, Mr. Ma Tsz Chun and Ms. Loh Lai Ping Phillis.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief, the information contained in this announcement 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 announcement misleading.

This announcement will remain on the ‘‘Latest Company Announcements’’ page of the GEM website (www.hkgem.com) for at least seven days from the date of its posting and on the Company’s website (www.intechproductions.com).

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 GEM 上市公司一般為中小型公 司，在 GEM 買賣的證券可能會較於主 板買賣之證券承受較大的市場波動風 險，同時無法保證在 GEM 買賣的證券 會有高流通量的市場。

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。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

FINANCIAL HIGHLIGHTS

財務概要

	Three months ended 31 August 截至八月三十一日止三個月 2018 2017 Change 二零一八年 二零一七年 變動 HK$’000 HK$’000 千港元 千港元 (Unaudited) (Unaudited) （未經審核）（未經審核）
	收益 29,428 17,149 +71.6% 毛利 16,513 8,372 +97.2% 期內溢利 9,528 2,829 +236.8% 每股盈利（港仙） 1.19 0.39 +205.1%
Revenue Gross profit Profit for the period Earnings per share (HK cents)	收益 毛利 期內溢利 每股盈利（港仙）

Revenue	收益
Gross profit	毛利
Profit for the period	期內溢利
Earnings per share (HK cents) 每股盈利（港仙）

• The Group recorded an unaudited revenue of approximately HK$29.4 million for the three months ended 31 August 2018, representing an increase of approximately 71.6% as compared with that for the corresponding period in 2017.

• 截至二零一八年八月三十一日 止三個月，本集團錄得未經審 核收益約29.4百萬港元，較二零 一七年同期增加了約71.6%。

• The Group’s unaudited profit was approximately HK$9.5 million for the three months ended 31 August 2018, representing an increase of approximately HK$6.7 million or approximately 236.8% as compared with that for the corresponding period in 2017. The increase in profit for the three months ended 31 August 2018 was primarily attributable to (i) the increase in gross profit margin as a result of the improvement in the operational efficiency of our staff and the visual display equipment utilization; (ii) the decrease in bank borrowing interest which was in line with the decrease in average bank borrowings during the three months ended 31 August 2018 and (iii) the decrease in imputed interest on payable for equipment as such related payables have been fully settled in the financial year ended 31 May 2018.

• 截至二零一八年八月三十一日 止三個月，本集團的未經審核 溢利約為 9.5 百萬港元，較二零 一七年同期增加約 6.7 百萬港元 或約 236.8%。截至二零一八年 八月三十一日止三個月的利潤 增加主要是由於 (i) 我們員工運 作效率及視像顯示設備使用率 改善帶動毛利率增加；(ii) 銀行 借貸利息減少，並與截至二零 一八年八月三十一日止三個月 平均銀行借款減少方向一致； 及 (iii) 截至二零一八年五月三十 一日止財政年度因有關應付款 項已悉數結清，設備應付款項 產生之估算利息減少。

• The Board does not recommend the payment of dividend for the three months ended 31 August 2018.

• 截至二零一八年八月三十一日 止三個月，董事會不建議派付 任何股息。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

UNAUDITED CONDENSED CONSOLIDATED FIRST QUARTER RESULTS FOR THE THREE MONTHS ENDED 31 AUGUST 2018

截至二零一八年八月三 十一日止三個月未經審 核簡明綜合第一季度業 績

The board of Directors (the “ Board ”) of the Company is pleased to announce the unaudited condensed consolidated first quarter results of the Company and its subsidiaries (collectively referred to as the “ Group ”) for the three months ended 31 August 2018 together with the comparative unaudited figures for the three months ended 31 August 2017, as follows:

本公司董事會（「 董事會 」）欣然宣佈本 公司及其附屬公司（統稱「 本集團 」）截 至二零一八年八月三十一日止三個月 之未經審核簡明綜合第一季度業績連 同二零一七年八月三十一日止三個月 之未經審核比較數字如下：

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

未經審核簡明綜合全面 收入表

			Three months ended	Three months ended
			31 August
			截至八月三十一日止
			三個月
			2018	2017
			二零一八年	二零一七年
		Note	HK$’000	HK$’000
		附註	千港元	千港元
			(Unaudited)	(Unaudited)
			（未經審核）（未經審核）
Revenue	收入	4	29,428	17,149
Cost of services	服務成本		(12,915)	(8,777)
Gross profit	毛利		16,513	8,372
Other income	其他收入		—	126
Other gains, net	其他收益淨額		—	161
Administrative expenses	行政開支		(5,067)	(4,215)
Operating profit	經營溢利		11,446	4,444
Finance income	財務收入		151	46
Finance costs	財務成本		(155)	(782)
Finance costs, net	財務成本淨額		(4)	(736)

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

		Three months ended	Three months ended
		31 August
		截至八月三十一日止
		三個月
		2018	2017
		二零一八年 二零一七年
		Note HK$’000	HK$’000
		附註 千港元	千港元
		(Unaudited) (Unaudited)
		（未經審核）（未經審核）
Profit before income tax	所得稅前溢利	11,442	3,708
Income tax expense	所得稅開支	5 (1,914)	(879)
Profit for the period	期間溢利	9,528	2,829
Attributable to:	以下人士應佔：
— Owners of the Company	—本公司擁有人	9,516	2,988
— Non-controlling interests	—非控股權益	12	(159)
		9,528	2,829
Other comprehensive income:	其他全面收入：
Item that may be subsequently	其後可能重新分類至
reclassified to profit or loss	損益的項目
— Exchange difference on	—換算海外業務之
translation of foreign	差額
operations		—	44
Total comprehensive income	期間全面收入總額
for the period		9,528	2,873
Attributable to:	以下人士應佔：
— Owners of the Company	—本公司擁有人	9,516	3,031
— Non-controlling interests	—非控股權益	12	(158)
		9,528	2,873
Earnings per share for profit	期間本公司擁有人應佔
attributable to the owners of	溢利的每股盈利
the Company during the period
Basic and diluted (HK cents)	基本及攤薄（港仙）	7 1.19	0.39

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

未經審核簡明綜合權益變 動表

For the three months ended 31 August 2018

截至二零一八年八月三十一日止三個月

	Attributable to owners of the Company 本公司擁有人應佔 Share capital Share premium Capital reserve Exchange reserve Retained earnings Total Non- controlling interests Total equity 股本 股份溢價 資本儲備 匯兌儲備 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 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) （未經審核）（未經審核）（未經審核）（未經審核）（未經審核）（未經審核）（未經審核）（未經審核）
Balance at 1 June 2018 於二零一八年 六月一日的結餘 Profit for the period and total comprehensive income 期內溢利及全面收入 總額	8,000 56,497 774 269 41,898 107,438 (291) 107,147 — — — — 9,516 9,516 12 9,528
Balance at 31 August 2018 於二零一八年 八月三十一日 的結餘	8,000 56,497 774 269 51,414 116,954 (279) 116,675
Balance at 1 June 2017 於二零一七年 六月一日的結餘 Profit/(loss) for the period 期內溢利╱（虧損） Other comprehensive income: 其他全面收入： — Exchange difference on translation of foreign operations —換算海外 業務之 匯兌差額	— — 774 164 23,979 24,917 (304) 24,613 — — — — 2,988 2,988 (159) 2,829 — — — 43 — 43 1 44
Total comprehensive income/ (expense) 全面收入╱（開支） 總額	— — — 43 2,988 3,031 (158) 2,873
Transaction with owners: 與擁有人的交易： — Capitalisation Issue (Note 1) —資本化發行 （附註1） 6,000 6,000 — — — 12,000 — 12,000 — Issue of new share upon share offer (Note 2) —根據股份發售發 行新股份 （附註2） 2,000 58,000 — — — 60,000 — 60,000 — Share issuance costs —股份發行成本 — (7,503) — — — (7,503) — (7,503)
Balance at 31 August 2017 於二零一七年 八月三十一日 的結餘 8,000 56,497 774 207 26,967 92,445 (462) 91,983

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

Note 1: On 14 June 2017, the Group capitalised 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$0.3 per share during the new share offer for a total proceeds (before related fees and expenses) of HK$60,000,000.

• 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。 本公司已發行合共 200,000,000 股股份， 每股價格 0.3 港元，於新股份發售之所 得款項總額（於未扣除相關費用及開支 前）為 60,000,000 港元。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL INFORMATION

For the three months ended 31 August 2018

1. GENERAL INFORMATION

In Technical Productions Holdings Limited (the “ Company ”) was incorporated in the Cayman Islands on 4 November 2016 as an exempted company with limited liability under the Companies Law (as revised) of the Cayman Islands, as amended, supplemented or otherwise modified from time to time. The address of its registered office is Clifton House, 75 Fort Street, P.O. Box 1350, Grand Cayman, KY1-1008 Cayman Islands.

The Company is an investment holding company. The Company and its subsidiaries (together the “ Group ”) are principally engaged in the provision of visual display solution services for concerts and events primarily in Hong Kong, Macau, and the People’s Republic of China (the “ PRC ”) (the “ Business ”).

The Company’s shares (the “ Shares ”) were listed on GEM of The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) (the “ Listing ”) on 14 June 2017 (the “ Listing Date ”).

The unaudited condensed consolidated financial statements are presented in Hong Kong dollars (“ HK$ ”), unless otherwise stated.

未經審核簡明綜合 財務報表附註

截至二零一八年八月三十一日止三個月

1. 一般資料

In Technical Productions Holdings Limited（「 本公司 」）於二零一六 年十一月四日根據開曼群島公 司法（經修訂）（經不時修訂、補 充或以其他方式修改）在開曼 群島註冊成立為獲豁免有限公 司。其註冊辦事處地址為 Clifton House, 75 Fort Street, P.O. Box 1350, Grand Cayman, KY1-1008, Cayman Islands。

本公司為一間投資控股公司。 本公司及其附屬公司（統稱「 本 集團 」）主要為於香港、澳門及 中華人民共和國（「 中國 」）的演 唱會及活動提供視像展示解決 方案服務（「 業務 」）。

本公司股份（「 股份 」）於二零一 七年六月十四日（「 上市日期 」） 於香港聯合交易所有限公司 （「 聯交所 」）GEM上市（「 上市 」）。

除非另有所指，否則未經審核 簡明綜合財務報表按港元（「 港 元 」）呈列。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

2. BASIS OF PREPARATION

The unaudited condensed consolidated financial information of the Group for the three months ended 31 August 2018 has been prepared in accordance with accounting policies conform with Hong Kong Financial Reporting Standards (“ HKFRSs ”) issued by the Hong Kong Institute of Certified Public Accountants (“ HKICPA ”) applicable to interim periods and the applicable disclosure provisions of the GEM Listing Rules. However, the unaudited condensed consolidated financial information does not contain sufficient information to constitute an interim financial report as defined in HKFRSs. The unaudited condensed consolidated financial information should be read in conjunction with the consolidated financial statements of the Group for the year ended 31 May 2018 included in the annual report of the Company dated 22 August 2018, which have been prepared in accordance with HKFRSs issued by the HKICPA.

The unaudited condensed consolidated financial statements have been prepared on the historical cost basis.

3. SIGNIFICANT ACCOUNTING 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 2018.

2. 編製基準

本集團截至二零一八年八月三 十一日止三個月的未經審核簡 明綜合財務資料乃根據符合香 港會計師公會（「 香港會計師公 會 」）頒佈的香港財務報告準則 （「 香港財務報告準則 」）的會計 政策編製。適用於中期及 GEM 上市規則的披露規定。然而， 未經審核簡明綜合財務資料並 無載有足夠資料構成香港財務 報告準則所界定之中期財務報 告。未經審核簡明綜合財務資 料應與本集團截至二零一八年 五月三十一日止年度的綜合財 務報表一併閱讀，該年度財務 報表已載列於本公司日期為二 零一八年八月二十二日的年度 報告內，該報告乃根據香港會 計師公會頒佈的香港財務報告 準則編制。

未經審核簡明綜合財務報表乃 按歷史成本基準編製。

3. 主要會計政策

編製該等未經審核簡明綜合財 務資料所採用的主要會計政策 與編製本集團截至二零一八年 五月三十一日止年度的綜合財 務報表所採用的一致。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

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 2018. The adoption of these new standards and amendments to standards has no material impact on the Group’s results and financial position.

HKFRS 1 and Annual Improvements 2014–2016 HKAS 28 Cycle (Amendments) HKFRS 2 Classification and Measurement of (Amendments) S h a r e - b a s e d P a y m e n t Transactions HKFRS 4 Applying HKFRS 9 Financial (Amendments) Instruments with HKFRS 4 Insurance Contracts

HKFRS 9 Financial Instruments HKFRS 15 Revenue from Contracts with Customers HKFRS 15 Clarifications to HKFRS 15 (Amendments) HKAS 28 Investments in Associates and Joint (Amendments) Ventures HKAS 40 Transfer of Investment Property (Amendments)

The Group has not early adopted those new standards, amendments to standards and interpretations which have been issued by the HKICPA but are not yet effective. The Group is in the process of assessing their impact on the Group’s results and financial position.

本集團已採納及應用於二零一 八年六月一日開始的會計期間 已頒佈及生效的下列新準則、 標準及詮釋修訂。採納該等新 準則及標準修訂對本集團業績 及財務狀況並無重大影響。

香港財務報告準則 2014年至2016年 第1號及香港 週期的年度 會計準則28號 改進 （修訂本） 香港財務報告準則 以股份為基礎付 2號（修訂本） 款交易的分 類及計量 香港財務報告準則 與香港財務報 4號（修訂本） 告準則第4號 「保險合約」 一併應用的 香港財務報 告準則第9號 「金融工具」 香港財務報告準則 金融工具 第9號 香港財務報告準則 來自客戶合約的 第15號 收益 香港財務報告準則 澄清香港財務 第15號（修訂本） 報告準則 第15號 香港會計準則 於聯營公司或 第28號（修訂本） 合營公司之 投資 香港會計準則 轉讓投資物業 第40號（修訂本）

本集團尚未提前採納香港會計 師公會已頒佈但尚未生效的新 準則、標準及詮釋修訂。本集團 現正評估其對本集團業績及財 務狀況的影響。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

4. REVENUE

4. 收益

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 straightline basis over the term of the lease.

收益於以下情況下得到確認， 即經濟利益可能將流入本集團 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，及設備租賃收益於 租約期內以直線法確認。

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

於報告期內本集團收益情況分 析如下：

		Three months ended	Three months ended
		31 August
		截至八月三十一日止
		三個月
		2018	2017
		二零一八年	二零一七年
		HK$’000	HK$’000
		千港元	千港元
Revenue from visual display solution	視像顯示解決方案服務
services	收益	29,406	17,141
Equipment rental income	設備租賃收入	22	8
		29,428	17,149

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

5. INCOME TAX EXPENSE

5. 所得稅開支

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 three months ended 31 August 2018 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 three months ended 31 August 2017.

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 至二零一八年八月三十一日止 三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 一七年八月三十一日止三個月 的估計應課稅溢利按香港利得 稅率16.5%計提撥備。

All PRC subsidiaries of the Company are subject to the PRC Enterprise Income Tax at the rate of 25% for the three months ended 31 August 2018 and 2017.

截至二零一八年及二零一七年 八月三十一日止三個月，本公 司所有中國附屬公司須按 25% 稅率繳納中國企業所得稅。

The Macau subsidiary of the Company was subject to Macau profits tax at the rate of 12% on the estimated assessable profits for the three months ended 31 August 2018.

截至二零一八年八月三十一日 止三個月本公司之澳門附屬公 司須按估計應課稅溢利 12% 稅 率繳納澳門利得稅。

The amounts of taxation charged to profit and loss represent:

自損益扣除的稅項金額指：

		Three months ended	Three months ended
		31 August
		截至八月三十一日止
		三個月
		2018	2017
		二零一八年	二零一七年
		HK$’000	HK$’000
		千港元	千港元
Current income tax:	即期所得稅：
Hong Kong profits tax	香港利得稅	1,126	879
PRC corporate income tax	中國企業所得稅	788	—
		1,914	879

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

6. DIVIDENDS

6. 股息

The directors of the Company do not recommend the payment of dividend for the three months ended 31 August 2018 (three months ended 31 August 2017: Nil).

本公司董事不建議派付截至二 零一八年八月三十一日止三個 月的股息（截至二零一七年八月 三十一日止三個月：零）。

7. EARNINGS PER SHARE

7. 每股盈利

For the three months ended 31 August 2018 and 2017, the basic earnings per Share is calculated based on (i) the profit attributable to owners of the Company and (ii) the weighted average number of Shares issued during the period.

截至二零一八年及二零一七年 八月三十一日止三個月，每股 基本盈利乃按 (i) 本公司擁有人 應佔溢利及 (ii) 期內已發行股份 之加權平均數計算。

		Three months ended	Three months ended
		31 August
		截至八月三十一日止
		三個月
		2018	2017
		二零一八年	二零一七年
Profit attributable to owners of	本公司擁有人應佔
the Company (HK$’000)	溢利（千港元）	9,516	2,988
Weighted average number of	已發行股份之加權
Shares in issue	平均數（千股）
(thousand shares)		800,000	771,739
Earnings per share (HK cents)	每股盈利（港仙）	1.19	0.39

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.

每股攤薄盈利與每股基本盈利 相同，因為於本報告期內並無 存在潛在的攤薄股份。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

MANAGEMENT DISCUSSION AND ANALYSIS

BUSINESS REVIEW

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

During the three months ended 31 August 2018, the Group was engaged in 125 pop concert shows for Hong Kong and non-Hong Kong artists/bands (three months ended 31 August 2017: 91). The Group derived approximately 90.4% of its total revenue during the three months ended 31 August 2018 from pop concerts (three months ended 31 August 2017: approximately 93.6%), 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.

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。

截至二零一八年八月三十一日止三個 月，本集團為香港及非香港藝術家╱ 樂隊舉辦了 125 場流行音樂會演出（截 至二零一七年八月三十一日止三個 月：91 場）。截至二零一八年八月三十 一日止三個月，本集團來自流行音樂 會佔總收益約 90.4%（截至二零一七年 八月三十一日止三個月：約 93.6%）， 其中大部分來自香港、中國及澳門。 本集團餘下的收益來自其他現場活 動，包括企業活動、展覽、體育及休 閒活動以及其他現場表演，及設備 租賃。

財務回顧

收益

本集團透過 (i) 為流行音樂會及多種其 他現場活動的相關客戶提供視像顯示 解決方案；及 (ii) 提供設備租賃產生收 益。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

The following table sets out a breakdown of the Group’s revenue by source of income during the three months ended 31 August 2018 with the comparative figures for the three months ended 31 August 2017:

下表按收入來源載列本集團截至二零 一八年八月三十一日止三個月之收益 明細及截至二零一七年八月三十一日 止三個月之比較數字：

		Three months ended	Three months ended	Three months ended
		31 August 2018	31 August 2017
		截至二零一八年	截至二零一七年
		八月三十一日止三個月 八月三十一日止三個月
		% of total		% of total
		HK$’000 revenue	HK$’000	revenue
		佔收益		佔收益
		總額的		總額的
		千港元 百分比	千港元	百分比
Visual display solutions	視像顯示解決方案	29,406 99.9	17,141	100.0
Equipment rental	設備租賃	22 0.1	8	—
Total	總計	29,428 100.0	17,149	100.0

During the three months ended 31 August 2018, the Group principally derived its revenue from the provision of visual display solutions. The Group’s revenue increased by approximately 71.6% from approximately HK$17.1 million for the three months ended 31 August 2017 to approximately HK$29.4 million for the three months ended 31 August 2018.

截至二零一八年八月三十一日止三個 月，本集團收益主要來自提供視像顯 示解決方案。本集團收益由截至二零 一七年八月三十一日止三個月的約 17.1 百萬港元增長約 71.6% 至截至二 零一八年八月三十一日止三個月的約 29.4百萬港元。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

Visual display solutions

The following table sets out a breakdown of the Group’s revenue from visual display solutions during the three months ended 31 August 2018 with the comparative figures for the three months ended 31 August 2017. 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

下表載列截至二零一八年八月三十一 日止三個月本集團來自視像解決方案 之收益明細及截至二零一七年八月三 十一日止三個月之比較數字。就呈列 收益明細而言，其他現場活動包括企 業活動、展覽、體育及娛樂活動及其 他現場表演。

		Three months ended 31 August 2018	Three months ended 31 August 2017	Three months ended 31 August 2017	Three months ended 31 August 2017	Three months ended 31 August 2017
		截至二零一八年八月三十一日止三個月	截至二零一七年八月三十一日止三個月
		% of total			% of total
		revenue			revenue
		from visual Average			from visual	Average
		No. of display revenue	No. of		display	revenue per
		shows Revenue solutions per show 視像顯示	shows	Revenue	solutions 視像顯示	show
		解決方案佔 每場			解決方案佔	每場
		總收益的 演出的			總收益的	演出的
		演出數目 收益 百分比 平均收益	演出數目	收益	百分比	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	流行音樂會	125 26,595 90.4 213	91	16,043	93.6	176
Other live events	其他現場活動	113 2,811 9.6 25	62	1,098	6.4	18
Total revenue from	視像顯示解決
visual display	方案收益總額
solutions		238 29,406 100.0 124	153	17,141	100.0	112

The increase in revenue from pop concerts was mainly attributable to (i) the increase in the number of pop concerts shows undertaken by the Group from 91 for the three months ended 31 August 2017 to 125 for the three months ended 31 August 2018 and (ii) the increase in the average revenue per show for pop concerts from approximately HK$176,000 for the three months ended 31 August 2017 to approximately HK$213,000 for the three months ended 31 August 2018 as a result of the continuous increase in the demand for a larger amount of, higher quality and more complex visual display effect by the Group’s customers.

來自流行音樂會的收益增加主要是由 於 (i) 本集團所承接流行音樂會的數目 由截至二零一七年八月三十一日止三 個月的 91 場增至截至二零一八年八月 三十一日止三個月的 125 場；及 (ii) 由 於本集團的客戶對更大量優質且更複 雜效果的視像顯示解決方案需求持續 增加，使每場演出平均收益由截至二 零一七年八月三十一日止三個月的約 176,000港元增至截至二零一八年八月 三十一日止三個月的約213,000港元。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

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 62 for the three months ended 31 August 2017 to 113 for the three months ended 31 August 2018 because the Group undertook more corporate events in the PRC and Macau for the three months ended 31 August 2018 and (ii) the increase in the average revenue per show for other live events from approximately HK$18,000 for the three months ended 31 August 2017 to approximately HK$25,000 for the three months ended 31 August 2018.

來自其他現場活動收益增加主要是由 於 (i) 受到本集團截至二零一八年八月 三十一日止三個月於中國及澳門承接 更多企業活動的影響，導致本集團截 至二零一七年八月三十一日止三個月 承辦之其他現場活動數目由62 項增加 至二零一八年八月三十一日止三個月 的113項，及(ii)截至二零一七年八月三 十一日止三個月之其他現場活動每場 演出平均收益由約 18,000 港元增加至 截至二零一八年八月三十一日止三個 月約25,000港元。

Revenue analysis by geographical location

按地理位置劃分的收益分析

The following table sets out a breakdown of the Group’s revenue from pop concert shows by geographical location during the three months ended 31 August 2018 with comparative figures for the three months ended 31 August 2017:

下表載列截至二零一八年八月三十一 日止三個月本集團按地理位置劃分的 流行音樂會的收益明細及截至二零一 七年八月三十一日止三個月之比較數 字：

		Three months ended 31 August 2018	Three months ended 31 August 2017	Three months ended 31 August 2017	Three months ended 31 August 2017	Three months ended 31 August 2017
		截至二零一八年八月三十一日止三個月	截至二零一七年八月三十一日止三個月
		% of total			% of total
		revenue Average			revenue	Average
		No. of from pop revenue	No. of		from pop	revenue per
		shows Revenue concerts per show 流行音樂會	shows	Revenue	concerts 流行音樂會	show
		佔總收益的 每場演出的			佔總收益的	每場演出的
		演出數目 收益 百分比 平均收益	演出數目	收益	百分比	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	流行音樂會
Hong Kong	香港	64 5,469 20.6 85	45	3,865	24.1	86
PRC	中國	43 16,900 63.5 393	37	9,727	60.6	263
Macau	澳門	14 3,834 14.4 274	7	2,291	14.3	327
Others	其他	4 392 1.5 98	2	160	1.0	80
Total revenue from	自流行音樂會
visual display	提供視像顯示
solutions for pop	解決方案之總
concerts	收入	125 26,595 100.0 213	91	16,043	100.0	176

16

In Technical Productions Holdings Limited First Quarterly Report 2018/2019

During the three months ended 31 August 2018, the Group continued to provide services for (i) a well-known Hong Kong artist for 15 shows (three months ended 31 August 2017: 12 shows) of concert tour in the PRC and 6 shows (three months ended 31 August 2017: 6 shows) in Macau; and (ii) a Taiwanese band for 19 shows (three months ended 31 August 2017: 7 shows) in the PRC.

截至二零一八年八月三十一日止三個 月，本集團繼續為 (i) 一位香港知名藝 人於中國舉行 15 場巡迴演唱會演出 （二零一七年八月三十一日止三個月： 12 場）及於澳門舉辦 6 場演出（二零一 七年八月三十一日止三個月：6 場）； 及為 (ii) 一台灣樂隊在中國舉辦 19 場演 出（截至二零一七年八月三十一日止 三個月：7場）。

The following table sets out a breakdown of the Group’s revenue from other live events by geographical location during the three months ended 31 August 2018 with comparative figures for the three months ended 31 August 2017:

下表載列截至二零一八年八月三十一 日止三個月本集團按地理位置劃分的 其他現場活動的收益明細及截至二零 一七年八月三十一日止三個月之比較 數字：

		Three months ended 31 August 2018	Three months ended 31 August 2017	Three months ended 31 August 2017	Three months ended 31 August 2017	Three months ended 31 August 2017
		截至二零一八年八月三十一日止三個月	截至二零一七年八月三十一日止三個月
		% of total			% of total
		revenue Average			revenue	Average
		No. of from other revenue	No. of		from other	revenue per
		shows Revenue live events per show 其他	shows	Revenue	live events 其他	show
		現場活動			現場活動
		佔總收益的 每場演出的			佔總收益的	每場演出的
		演出數目 收益 百分比 平均收益	演出數目	收益	百分比	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	51 1,464 52.1 29	62	1,098	100.0	18
PRC	中國	4 52 1.8 13	—	—	—	—
Macau	澳門	58 1,295 46.1 22	—	—	—	—
Total revenue from	自其他現場活動
visual display	提供視像顯示
solutions for other	解決方案之總
live events	收入	113 2,811 100.0 25	62	1,098	100.0	18

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

Gross profit and gross profit margin

The gross profit of the Group for the three months ended 31 August 2018 amounted to approximately HK$16.5 million (three months ended 31 August 2017: approximately HK$8.4 million), representing a gross profit margin of approximately 56.1% (three months ended 31 August 2017: approximately 48.8%). The increase of the gross profit margin was mainly attributable to the improvement in the operational efficiency of our staff and the visual display equipment utilisation of 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 three months ended 31 August 2018 and 2017, all PRC subsidiaries of the Company were subject to the PRC Enterprise Income Tax at the rate of 25.0%.

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 three months ended 31 August 2018. 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 three months ended 31 August 2018 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 profits tax at the rate of 12.0% on the estimated assessable profits during the three months ended 31 August 2018.

The effective income tax rate of the Group was approximately 16.7% for the three months ended 31 August 2018 (three months ended 31 August 2017: approximately 23.7%).

毛利及毛利率

截至二零一八年八月三十一日止三個 月，本集團的毛利約為 16.5 百萬港元 （截至二零一七年八月三十一日止三 個月：約 8.4 百萬港元），毛利率約為 56.1%（截至二零一七年八月三十一日 止三個月：約 48.8%）。毛利率增加主 要乃由於本集團員工營運效率及視像 顯示設備使用率提升所致。

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。

於截至二零一八年及二零一七年八月 三十一日止三個月，本集團的所有中 國附屬公司按 25.0% 稅率繳納企業所 得稅。

於截至二零一八年八月三十一日止 三個月，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 一八年八月三十一日止三個月按香港 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%。

截至二零一八年八月三十一日止三個 月，本公司之澳門附屬公司須按估計 應課稅溢利 12.0% 之稅率繳納澳門利 得稅。

截至二零一八年八月三十一日止三 個月，本集團的實際所得稅稅率約為 16.7%（截至二零一七年八月三十一日 止三個月：約23.7%））。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

Profit for the period

As a result of the foregoing, the Group’s profit was approximately HK$9.5 million for the three months ended 31 August 2018, representing an increase of approximately HK$6.7 million or approximately 236.8% as compared with that for the corresponding period in 2017. The increase in profit for the three months ended 31 August 2018 was primarily attributable to (i) the increase in gross profit margin as a result of the improvement in the operational efficiency of our staff and the visual display equipment utilization; (ii) the decrease in bank borrowing interest which was in line with the decrease in average bank borrowings during the three months period ended 31 August 2018 and (iii) the decrease in imputed interest on payable for equipment as such related payables have been fully settled in the financial year ended 31 May 2018.

LIQUIDITY AND CAPITAL RESOURCES

Financial Resources, Liquidity and Capital Structure

The Group finances its operations primarily through cash generated from operating activities, interest-bearing bank borrowings and finance leases. The Group recorded net current assets of approximately HK$45.1 million as at 31 August 2018 (31 August 2017: approximately HK$39.7 million).

As at 31 August 2018, the Group’s current ratio was approximately 2.3 (31 August 2017: approximately 2.3) 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 8.7% (31 August 2017: approximately 15.3%). The decrease of the Group’s gearing ratio in the three months ended 31 August 2018 was mainly due to the decrease in bank borrowings.

期內溢利

由於上文所述，截至二零一八年八月 三十一日止三個月，本集團的溢利約 為 9.5 百萬港元，較二零一七年同期增 加約6.7百萬港元或約236.8%。截至二 零一八年八月三十一日止三個月的溢 利增長主要是由於 (i) 我們員工運作效 率及視像顯示設備使用率改善帶動毛 利率增加 ;(ii) 銀行借貸利息減少，並與 截至二零一八年八月三十一日止三個 月平均銀行借款減少方向一致；及 (iii) 截至二零一八年五月三十一日止財政 年度因有關應付款項已悉數結清，設 備應付款項產生之估算利息減少。

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。本集團於二零一八 年八月三十一日錄得流動資產淨額約 為 45.1 百萬港元（二零一七年八月三十 一日：約39.7百萬港元）。

於二零一八年八月三十一日，本集團 的流動比率約為 2.3（二零一七年八月 三十一日：約 2.3）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 8.7%（二零一七年八月 三十一日：約 15.3%）。本集團資產負 債比率於截至二零一八年八月三十一 日止三個月下跌主要是由於銀行借貸 減少所致。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

As at 31 August 2018, the maximum limit of the banking facilities available to the Group amounted to approximately HK$10.9 million. The banking facilities were granted by two banks to a wholly-owned subsidiary of the Company, as borrower and the Company as guarantor. Of the aforesaid banking facilities, approximately HK$9.8 million was granted by a bank upon and subject to the conditions that (i) Mr. Yeung 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%; and the remaining of approximately HK$1.1 million was granted by another bank upon and subject to the condition that Mr. Yeung, Mr. Chang and UCP Co., Ltd shall together remain the major shareholders 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 5.5% to 5.8% per annum (31 August 2017: 4.0% to 6.0% per annum).

As at 31 August 2018, the capital structure of the Group consisted of equity attributable to owners of the Company of approximately HK$117.0 million, comprising issued share capital and reserves.

The Shares were listed on the GEM of the Stock Exchange on the Listing Date. There has been no change in the capital structure of the Group since then.

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$ ”) and 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 three months ended 31 August 2018.

於二零一八年八月三十一日，本集團 最大限額銀行融資約為 10.9 百萬港 元。該等銀行融資乃由兩間銀行授予 本公司的一間全資附屬公司（作為借 款人）及本公司（作為擔保人）。在上述 銀行融資中，約 9.8 百萬港元已由一間 銀行授出並受限於下列條件：(i) 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%；餘 下的約1.1 百萬港元已由另一間銀行授 出並受限於下列條件：楊先生、張先 生及 UCP Co.Ltd 共同繼續為本公司主 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，浮動年利率介 乎 5.5% 至 5.8%（二零一七年八月三十 一日：年利率介乎4.0%至6.0%）。

於二零一八年八月三十一日，本集團 資本架構包括本公司持有人應佔之權 益約 117.0 百萬港元（包括已發行股本 及儲備）。

股份於上市日期於聯交所 GEM 上市。 此後，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 」）及澳門元（「 澳 門元 」）購買及以人民幣（「 人民幣 」）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。於截至二零一八 年八月三十一日止三個月，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。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

TREASURY POLICIES

The Group has adopted a prudent financial management approach towards its treasury policies and thus maintained a healthy liquidity position throughout the three months ended 31 August 2018. 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 three months ended 31 August 2018, the Group did not have any significant investments, material acquisitions nor disposals of subsidiaries and affiliated companies.

CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

As at 31 August 2018, the Group did not have any material capital commitments or any material contingent liabilities.

PLEDGE OF ASSETS

As at 31 August 2018, the Group has pledged short-term bank deposits of approximately HK$3.0 million as security for the Group’s banking facilities (31 August 2017: 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，因此截至二零一八年八月 三十一日止三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 債及其他承諾的流動性結構不時滿足 其資金需求。

重大投資、重大收購及 出售附屬公司

截至二零一八年八月三十一日止三個 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

於二零一八年八月三十一日，本集團 並無任何重大資本承擔事項或任何重 大或有負債。

資產抵押

於二零一八年八月三十一日，本集團 的已抵押短期銀行存款約為 3.0 百萬 港元，作為本集團銀行融資之抵押（二 零一七年八月三十一日：約 3.0 百萬港 元）。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

USE OF PROCEEDS

所得款項用途

Net proceeds from the placing and public offer of the Company’s shares for the Listing were approximately HK$34.5 million, after deducting the underwriting commissions and other listing expenses. As at 31 August 2018, the unutilised proceeds were deposited in licensed banks in Hong Kong. The Company announced on 28 August 2018 for the change of proposed use of the net proceeds. For details, please refer to the announcement published on 28 August 2018. Set out below are details of the original allocation of the net proceeds, the revised allocation of the net proceeds and the utilisation of the net proceeds as at 31 August 2018:

經扣除包銷佣金及其他上市開支後， 本公司自股份上市後取得之公開發 售及配售所得款項淨額約 34.5 百萬港 元。於二零一八年八月三十一日，未 經動用之所得款項乃存放於香港持牌 銀行。本公司於二零一八年八月二十 八日宣佈更改所得款項淨額的擬議用 途。有關詳情，請參閱二零一八年八 月二十八日刊發的公告。下文載列所 得款項淨額的原始分配及所得款項淨 額的經修訂分配及截至二零一八年八 月三十一日的所得款項淨額的實際用 途詳情：

						Revised	Revised		Amount	Amount		Amount	Amount		Unutilised
						allocation as			utilised as at			utilised as at			amount
			Original			at 28 August			28 August			31 August			at 31 August
			allocation			2018			2018			2018			2018
									截至			截至			截至
						截至			二零一八年			二零一八年			二零一八年
						二零一八年		八月二十八日			八月三十一日			八月三十一日
					八月二十八日			的所得款項之			的所得款項之			的所得款項之
			原始分配		的經修訂分配				已使用部份			已使用部份		未經使用部份
			(HK$’ million)			(HK$’ million)			(HK$’ million)			(HK$’ million)			(HK$’ million)
			approximately			approximately			approximately			approximately			approximately
			（百萬港元）			（百萬港元）			（百萬港元）			（百萬港元）			（百萬港元）
			約為			約為			約為			約為			約為
Repayment of bank loans	償還銀行貸款		9.9			9.9			8.6			8.6			1.3
Acquisition of visual	收購視像顯器示設備
display equipment			11.6			11.6			11.6			11.6			—
Settlement of payables	結算應付款項		10.6			10.6			10.6			10.6			—
Recruitment of a creative	招聘一名創作總監
director			1.7			—			—			—			—
Recruitment of staff for	招聘本集團因澳門業
the Group’s business		務擴展之有關員工
expansions in Macau			—			1.7			—			0.4			1.3
Working capital (after	營運資金（經減去有關
deducting the relevant		費用）
expenses)			0.7			0.7			0.7			0.7			—
Total	總額		34.5			34.5			31.5			31.9			2.6

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

Reasons for the Changes in Use of Proceeds

The Company originally planned to use HK$1.7 million out of the net proceeds for recruitment of a creative director. After the Company obtaining a listing status on the GEM, the customers’ confidence in the Group was enhanced and the Group’s existing management team has been able to (i) identify new business opportunities; (ii) develop the Group’s customer network; and (iii) forge the Group’s presence as a visual display solution provider serving for corporate events and exhibitions and the Group has solicited more businesses in pop concerts as well as maintaining a stable stream of revenue from other live events, which reduced the Group’s need to recruit a creative director for corporate events and exhibitions.

In light of this, the Company decides to recruit more staff for the business expansions in Macau. To better utilise the IPO Proceeds, the Company decides to reallocate the unutilised IPO proceeds under the recruitment of a creative director for corporate events and exhibitions to the recruitment of staff for the Group’s business expansions in Macau for the purpose of accommodating the new business focus and strategies of the Company.

Based on the situation as stated above, the Board has resolved on 28 August 2018 and decided to change the original proposed use of the net proceeds and reallocate the unutilised net proceeds as described above to allow the Company to deploy its financial resources more effectively.

更改所得款項用途原因

本公司原先計劃動用所得款項淨額中 1.70 百萬港元作招聘一名創作總監用 途。本公司獲得 GEM 上市地位後，客 戶對本集團的信心增加，而本集團現 有之管理團隊已能夠 (i) 識別新商機； (ii) 發展本集團的客戶網絡 ; 及 (iii) 鞏固 本集團作為視像顯示設備解決方案供 應商的位置，並為公司直播活動及展 覽提供服務，本集團已徵集更多流行 音樂會業務，並維持其他現場活動之 穩定收入 ，減少本集團就企業活動和 展覽招募額外一名創作總監之需求。

有鑑於此，本公司決定為澳門的業務 擴展招聘更多員工。為更好地利用首 次公開發售所得款項，本公司決定重 新分配未被使用之首次公開發售所得 款項，即由招聘公司活動及展覽之創 作總監，撥至本集團就澳門業務擴展 的有關員工之招聘，以配合本公司新 業務重點發展及戰略。

根據上述情況，董事會已於二零一八 年八月二十八日決議並決定更改所得 款項淨額的原始擬議用途，並重新分 配上述未經動用之所得款項淨額，以 致本公司能更有效部署其財務資源。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

EMPLOYEES AND REMUNERATION POLICIES

As at 31 August 2018, the Group engaged a total of 94 employees (31 August 2017: 79) including the Directors. For the three months ended 31 August 2018, total staff costs amounted to approximately HK$5.2 million (three months ended 31 August 2017: approximately HK$4.2 million). Remuneration (including employees’ benefits) is maintained at an attractive level and reviewed on a periodic basis. Employees’ salary and relevant benefits are determined on the basis of performance, qualification, experience, positions and the Group’s business performance.

EVENTS AFTER THE REPORTING PERIOD

As from 31 August 2018 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 31 August 2018, 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.

僱員及薪酬政策

於二零一八年八月三十一日，本集團 共聘用 94 名僱員（二零一七年八月三 十一日：79 名），其中包括董事。截至 二零一八年八月三十一日止三個月， 員工成本總額約為 5.2 百萬港元（截至 二零一七年八月三十一日止三個月： 約 4.2 百萬港元）。薪酬（包括僱員福 利）維持在有吸引力的水平，並定期 審查。僱員薪酬及相關福利乃根據表 現、資質、經驗、職位以及本集團業 務績效確定。

報告期後事項

由二零一八年八月三十一日起至本報 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

於二零一八年八月三十一日，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、僱員或緊密聯繫人均概 無擁有本公司或本集團任何其他公司 證券的權益（包括認購該等證券的期 權或權利）。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

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 nonexecutive 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 three months ended 31 August 2018 and the effectiveness of internal control system.

PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED SECURITIES

The Directors confirm that during the three months ended 31 August 2018, there has been no purchase, sale or redemption of the Company’s listed securities.

DIRECTORS’ AND CONTROLLING SHAREHOLDERS’ INTERESTS IN COMPETING BUSINESS

During the three months period ended 31 August 2018, 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 for the three months period ended 31 August 2018.

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 度財務報告及賬目草擬本，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程序及本 集團內部控制進展。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 至二零一八年八月三十一日止三個月 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，截至二零一八年八月三十 一日止三個月，本公司概無購買、出 售或贖回上市證券。

董事及控股股東於競爭 業務中的權益

於截至二零一八年八月三十一日止三 個月期間，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）於截至二 零一八年八月三十一日止三個月擁有 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。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

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 for the three months period ended 31 August 2018.

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 31 August 2018, 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 (the “ 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

董事證券交易

本公司已採納有關董事進行證券交易 的行為守則，其條款不遜於 GEM 上市 規則第 5.48 條至第 5.67 條所載的規定 交易標準。本公司對所有董事作出具 體查詢後，確認所有董事均於截至二 零一八年八月三十一日止三個月遵守 規定的交易標準及有關董事進行證券 交易的行為守則。

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

於二零一八年八月三十一日，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，(i) 擁有記入根據證券 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

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

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:

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) Interests in the Company

(i) 於本公司之權益

	Capacity/	Capacity/			Number of	Number of		Percentage of
Name of Director	Nature of interest			Shares(Note 1)				shareholding
					股份數目
董事姓名	身份╱權益性質				（附註1）			股權百分比
Mr. Yeung Ho Ting Dennis	Interest in a controlled			600,000,000 (L)				75.0%
(“Mr. Yeung”)		corporation (Note 2)
楊浩廷先生（「楊先生」）	受控法團權益（附註2）			600,000,000 (L)				75.0%

Notes:

附註：

1. The letter “L” denotes the person’s long position in the Shares.

2. 英文字母 (L) 表示該人士於股份 的好倉。

3. Next Vision was beneficially owned by Mr. Yeung as to 75%. By virtue of the SFO, Mr. Yeung was deemed to be interested in the Shares held by Next Vision.

4. 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。

(ii) Interests in associated corporation of the Company

(ii) 於本公司相聯法團之權 益

											Number of
Name of	Name of										Shares			Percentage of
Director	associated company				Capacity						(Note 1)			shareholding
											股份數目
董事姓名	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)			75.0%
楊先生	Next Vision（附註2）				實益擁有人						7,500 (L)			75.0%
Notes:						附註：

1. The letter “L” denotes the person’s long position in the Shares.

2. 英文字母 (L) 表示該人士於股份 的好倉。

3. Next Vision held 75% of issued Shares and was therefore a holding company of the Company.

4. Next Vision 持有 75% 的已發行股 份，故為本公司的控股公司。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

Save as disclosed above, as at 31 August 2018, 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 required (i) to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part V of the SFO (including interests and/or short positions which they were taken or deemed to have under such provisions of the SFO); or (ii) pursuant to section 352 of the SFO, to be entered into the register required to be kept therein; or (iii) pursuant to Rules 5.46 to 5.67 of the GEM Listing Rules relating to securities transactions by directors to be notified to the Company and the Stock Exchange.

除上文披露者外，於二零一八年八月 三十一日，概無董事及本公司主要行 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）的任 何股份、相關股份及債權證中擁有任 何 (i) 根據證券及期貨條例第 V 部第 7 及 8 分部須知會本公司及聯交所的權益 或淡倉（包括根據證券及期貨條例的 該等條文，彼等被當作或視為擁有的 權益或淡倉），或 (ii) 記錄於本公司根據 證券及期貨條例第 352 條須存置的登 記冊的權益或淡倉，或 (iii) 根據 GEM 上 市規則第 5.46 至 5.67 條須知會本公司 及聯交所的證券交易。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

INTERESTS AND SHORT POSITIONS OF THE SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS IN SHARES AND UNDERLYING SHARES

As at 31 August 2018, 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:

Capacity/ Nature of interest

Name of shareholder Nature of interest 股東名稱 身份╱權益性質 Next Vision Beneficial owner Next Vision 實益擁有人

身份╱權益性質

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 the Shares held by Next Vision.

Save as disclosed above, as at 31 August 2018, the Directors have not been notified by any person who had interests or short positions in the Shares or underlying Shares as recorded in the register required to be kept pursuant to 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.

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

於二零一八年八月三十一日，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 有或被視為擁有記錄於本公司根據證 券及期貨條例第 336 條須存置的登記 冊的權益或淡倉：

Number of Shares held/interested Percentage of (Note 1) shareholding 持有╱擁有 權益股份數目 （附註1） 股權百分比

600,000,000 (L) 75.0% 600,000,000 (L) 75.0%

附註：

1. 英文字母 (L)表示該人士於股份的好倉。

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。

於二零一八年八月三十一日，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 條須備存登記冊內的權益或淡 倉，根據證券及期貨條例第 XV 部第 2 及3 分部須予披露 的 權 益 或 淡 倉。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

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 31 August 2018.

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 period from the Listing Date to 31 August 2018. 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.

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 購股權及於二零一八年八月三十一日 概無未行使之購股權。

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，不斷審查及完善企 業管治慣例及標準。除偏離企業管治 守則（定義如下）第 A.2.1 條守則條文 外，本公司自上市日期至二零一八年 八月三十一日期間，已遵守 GEM 上市 規則附錄十五所載「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 文規定主席與行政總裁的角色應有區 分，並不應由一人同時兼任。楊先生 為本公司之董事會主席兼行政總裁。 鑑於楊先生自二零零九年四月起於本 集團日常營運及管理方面的角色，董 事會相信楊先生同時兼任兩個角色有 利於實現有效的管理及業務發展，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 及充分的制衡乃屬有效。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019

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.

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.

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。我們秉持 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介紹最新業 務發展情況和財務業績，並通過年度 股東大會及特別股東大會與股東溝 通。按照 GEM 上市規則的規定，本公 司定期發佈報告、公佈、通函及股東 大會通知。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 通平台。

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 值鏈之其他分部的潛在商機（包括內 容分銷商及製作專家（視像展示解決 方案除外）），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，以擴展本集團的覆 蓋領域，並拓闊本集團的收入來源及 提升股東價值。

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In Technical Productions Holdings Limited 第一季度業績報告2018/2019

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, 9 October 2018

As at the date of this report, the Board comprises two executive Directors, namely, Mr. Yeung Ho Ting Dennis and Mr. Tam Chun Yu; one non-executive Director, namely, Mr. Law Wang Chak Waltery; and three independent non-executive Directors, namely, Mr. Li Kai Sing, Mr. Ma Tsz Chun and Ms. Loh Lai Ping Phillis.

未來，董事會相信，透過善用本集團 自身的優勢（尤其是其視像顯示裝置 種類眾多，且創新專業的管理層擁有 深厚的專業知識），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，二零一八年十月九日

於本報告日期，本公司兩名執行董事為楊浩廷 先生及譚震宇先生；一名非執行董事為羅宏澤 先生以；及三名獨立非執行董事為李啟承先 生、馬時俊先生及羅麗萍女士。

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In Technical Productions Holdings Limited First Quarterly Report 2018/2019