Brightstar Technology Group Co., Ltd — Interim / Quarterly Report 2018

Apr 10, 2018

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(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

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Third Quarterly Report 2017/2018 第三季度業績報告

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CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE “STOCK EXCHANGE”)

GEM has been positioned as a market designed to accommodate 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. The greater risk profile and other characteristics of GEM mean that it is a market more suited to professional and other sophisticated investors.

Given the emerging nature of companies listed on GEM, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board of the Stock Exchange 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 responsibility, 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 (collectively, 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。GEM 的較 高風險及其他特色表明 GEM 較適合專 業及其他經驗豐富的投資者。

由於 GEM 上市公司的新興性質使然， 在 GEM 買賣的證券可能會承受較於聯 交所主板買賣的證券為高的市場波動 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。

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

FINANCIAL HIGHLIGHTS

財務概要

HIGHLIGHTS

概要

Nine months ended 28 February 截至二月二十八日止九個月

		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）
Revenue	收益	59,692	44,553	34.0%
Gross profit	毛利	30,579	21,165	44.5%
Profit/(loss) for the period	期內溢利╱（虧損）	13,170	(446)	—
Earnings/(loss) per share (HK Cents)	每股盈利╱（虧損）
	（港仙）	1.74	(0.07)	—

• The Group recorded an unaudited revenue of approximately HK$59.7 million for the nine months ended 28 February 2018, representing an increase of approximately 34.0% as compared with that for the corresponding period in 2017.

• 截至二零一八年二月二十八日 止九個月，本集團錄得未經審 核收益約59.7百萬港元，較二零 一七年同期增加了約34.0%。

• The Group’s unaudited profit was approximately HK$13.2 million for the nine months ended 28 February 2018, representing an increase of approximately HK$13.6 million as compared with a loss of approximately HK$0.4 million for the corresponding period in 2017. The increase was mainly due to (i) the increase of gross profit for the nine months ended 28 February 2018 as compared with the gross profit for the nine months ended 28 February 2017; and (ii) the recognition of the Listing expenses of approximately HK$10.3 million for the nine months ended 28 February 2017 (nine months ended 28 February 2018: Nil). Taking no account of the one-off Listing expenses, the Group’s adjusted profit for the nine months ended 28 February 2017 would have been approximately HK$9.9 million and the Group’s profit for the nine months ended 28 February 2018 would have increased by approximately HK$3.3 million or approximately 33.5% as compared with the adjusted profit for the nine months ended 28 February 2017.

• 截至二零一八年二月二十八日 止九個月，本集團未經審核溢 利約為13.2百萬港元，較二零一 七年同期之虧損約 0.4 百萬港元 增加約13.6百萬港元。該增加主 要是由於 (i) 截至二零一八年二 月二十八日止九個月的毛利較 截至二零一七年二月二十八日 止九個月的毛利有所增加；及 (ii) 於截至二零一七年二月二十 八日止九個月確認上市開支約 10.3 百萬港元（截至二零一八年 二月二十八日止九個月：零）。 撇除一次性上市開支，截至二 零一七年二月二十八日止九個 月，本集團經調整溢利約為 9.9 百萬港元，而本集團截至二零 一八年二月二十八日止九個月 的溢利將較截至二零一七年二 月二十八日止九個月的經調整 溢利增加約 3.3 百萬港元或約 33.5%。

• The Board does not recommend the payment of dividend for the nine months ended 28 February 2018

• 截至二零一八年二月二十八日 止九個月，董事會不建議派付 任何股息。

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

UNAUDITED CONDENSED CONSOLIDATED THIRD QUARTERLY RESULTS FOR THE NINE MONTHS ENDED 28 FEBRUARY 2018

截至二零一八年二月二 十八日止九個月未經審 核簡明綜合第三季度業 績

The board of Directors (the “ Board ”) of the Company is pleased to announce the unaudited condensed consolidated third quarterly results of the Group for the three months and nine months ended 28 February 2018 together with the comparative unaudited figures of the corresponding periods in 2017, as follows:

本公司董事會（「 董事會 」）欣然宣佈本 集團截至二零一八年二月二十八日止 三個月及九個月之未經審核簡明綜合 第三季度業績連同二零一七年同期之 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	Nine months ended	Nine months ended
		28 February	28 February
		截至二月二十八日止	截至二月二十八日止
		三個月	九個月
		2018	2017 2018	2017
		二零一八年 二零一七年 二零一八年		二零一七年
		Note 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	收入	23,854	18,002 59,692	44,553
Cost of services	服務成本	(10,753)	(9,618) (29,113)	(23,388)
Gross profit	毛利	13,101	8,384 30,579	21,165
Other income	其他收入	—	— 126	53
Other gains, net	其他收益淨額	(16)	4 293	280
Administrative expenses	行政開支
— Professional service fees in	—有關上市籌備的
respect of listing preparation	專業服務費	—	(2,179) —	(10,312)
— Others	—其他	(4,433)	(3,108) (12,649)	(8,683)
Operating profit/(loss)	經營溢利╱（虧損）	8,652	3,101 18,349	2,503
Finance income	財務收入	135	1 256	1
Finance costs	財務成本	(846)	(515) (2,010)	(938)
Finance costs, net	財務成本淨額	(711)	(514) (1,754)	(937)

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

		Three months ended	Nine months ended	Nine months ended
		28 February	28 February
		截至二月二十八日止	截至二月二十八日止
		三個月	九個月
		2018	2017 2018	2017
		二零一八年 二零一七年 二零一八年		二零一七年
		Note 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）
Profit/(loss) before income tax	所得稅前溢利╱（虧損）	7,941	2,587 16,595	1,566
Income tax expense	所得稅開支	(1,415)	(478) (3,425)	(2,012)
Profit/(loss) for the period	期間溢利╱（虧損）	6,526	2,109 13,170	(446)
Attributable to:	以下人士應佔：
— Owners of the Company	—本公司擁有人	6,740	2,119 13,716	(408)
— Non-controlling interests	—非控股權益	(214)	(10) (546)	(38)
		6,526	2,109 13,170	(446)
Other comprehensive income/	其他全面收入╱（開支）：
(expense):
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 gains/(losses) on	—換算海外業務之
translation of foreign	匯兌收益╱（虧損）
operations		7	— 51	69
Total comprehensive income/(expense)	期間全面收入╱（開支）
for the period	總額	6,533	2,109 13,221	(377)
Attributable to:	以下人士應佔：
— Owners of the Company	—本公司擁有人	6,747	2,120 13,765	(342)
— Non-controlling interests	—非控股權益	(214)	(11) (544)	(35)
		6,533	2,109 13,221	(377)
Earnings/(loss) per share	本公司擁有人應佔每股
attributable to the owners of	盈利╱（虧損）
the Company
Basic and diluted	基本及攤薄（港仙）
(HK cents)		0.84	0.35 1.74	(0.07)

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

UNAUDITED CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the nine months ended 28 February 2018

未經審核簡明綜合權益 變動表

截至二零一八年二月二十八日止九個月

	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 2016 於二零一六年 六月一日的結餘 Loss for the period 期內虧損 Other comprehensive loss: 其他全面虧損： — Exchange difference on translation of foreign operations —換算海外 業務之 匯兌差額	— — 10 71 24,422 24,503 (80) 24,423 — — — — (408) (408) (38) (446) — — — 16 — 16 4 20
Total comprehensive (loss)/ income 全面（虧損）╱收入總 額	— — — 16 (408) (392) (34) (426)
Transaction with owners: 與擁有人的交易： — Difference between the fair value of the shareholder’s loan and the amount received —股東貸款的 公平值與 所收取金額 之間的差額	— — 764 — — 764 — 764
Balance at 28 February 2017 於二零一七年 二月二十八日 的結餘	— — 774 87 24,014 24,875 (114) 24,761
Balance at 1 June 2017 於二零一七年 六月一日的結餘 Profit for the period 期內溢利 Other comprehensive income: 其他全面收入： — Exchange gains on translation of foreign operations —換算海外 業務之 匯兌收益	— — 774 164 23,979 24,917 (304) 24,613 — — — — 13,716 13,716 (546) 13,170 — — — 42 — 42 2 44
Total comprehensive income/(expense) 全面收入╱（開支）總 額 Transactions with owners: 與擁有人的交易： — Capitalisation issue (Note 1) —資本化發行 （附註1） — Issue of shares upon share offer (Note 2) —股份發售後發行股 份 （附註2）	— — — 42 13,716 13,758 (544) 13,214 6,000 6,000 — — — 12,000 — 12,000 2,000 50,497 — — — 52,497 — 52,497
Balance at 28 February 2018 於二零一八年 二月二十八日 的結餘	8,000 56,497 774 206 37,695 103,172 (848) 102,324

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

• Note 1: On 14 June 2017, the Company capitalised an amount of approximately HK$12,000,000 owed by In Technical Productions Limited (“ ITP (HK) ”) to Next Vision Management Limited (“ Next Vision ”) by issuing additional 599,999,999 shares, credited as fully paid, to the then existing shareholder of the Company.

• Note 2: On 14 June 2017, the Company issued a total 200,000,000 shares at a price of HK$0.30 per share.

• 附註 1﹕於二零一七年六月十四日，本公司 已透過向本公司當時現有股東發行 599,999,999 股入賬列為繳足之額外 股份，將 In Technical Productions Limited

• （「 ITP (HK) 」）結欠 Next Vision Management Limited（「 Next Vision 」）的約 12,000,000 港元款項撥充資本。

• 附註 2﹕於二零一七年六月十四日，本公司以每 股 0.30 港元的價格發行合共200,000,000 股股份。

06 In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS For the nine months ended 28 February 2018

1. GENERAL INFORMATION

1.1 Corporate information

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, KY1-1108, Cayman Islands.

The shares of the Company (the “ Shares ”) were listed on the GEM of the Stock Exchange on 14 June 2017 (the “ Listing ”).

The Company is an investment holding company. The Group is principally engaged in the provision of visual display solution services for concerts and events in Hong Kong, Macau, the People’s Republic of China (the “ PRC ”) and Taiwan (the “ Business ”). Prior to the incorporation of the Company, the Business was conducted by ITP(HK) and its subsidiaries. ITP (HK) was owned by Mr. Yeung Ho Ting Dennis (“ Mr. Yeung ”), Mr. Chang Yu-shu (“ Mr. Chang ”) and UCP Co., Ltd. (“ UCP ”) as to 75%, 15% and 10%, respectively.

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

截至二零一八年二月二十八日止九個月

1. 一般資料

1.1 公司資料

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,KY1-1108, Cayman Islands。

本公司股份（「 股份 」）於 二零一七年六月十四日 於聯交所 GEM 上市（「 上 市 」）。

本公司為一間投資控股 公司。本集團主要從事為 香港、澳門、中華人民共 和國（「 中國 」）及台灣的 演唱會及活動提供視像 顯示解決方案服務（「 業 務 」）。於本公司註冊成立 前，業務由ITP (HK) 及其附 屬公司進行。ITP (HK) 由 楊浩廷先生（「 楊先生 」）、 張育書先生（「 張先生 」）及 UCP Co., Ltd.（「 UCP 」）分別 擁有75%、15%及10%。

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 第三季度業績報告2017/2018

1.2 Reorganisation

In preparation for the initial public offering (“ IPO ”) and the Listing, the Company underwent a reorganisation (the “ Reorganisation ”) of the corporate structure of the companies now comprising the Group. The major steps undertaken to effect the Reorganisation are as follows:

• (a) On 4 November 2016, the Company was incorporated in the Cayman Islands as the holding company of the Group. Upon incorporation, one Share of HK$0.01, representing the entire issued share capital of the Company, was allotted and issued to Next Vision, a company owned by Mr. Yeung, Mr. Chang and UCP as t o 7 5 % , 1 5 % a n d 1 0 % , respectively.

• (b) In Technical Productions (B.V.I.) Limited (“ ITP (BVI) ”) was incorporated in the British Virgin Islands (“ BVI ”) on 9 November 2016 as the intermediate holding company of ITP (HK) and its subsidiaries. Upon incorporation, one share of US$1.00, representing the entire issued share capital of ITP (BVI), was allotted and issued to the Company.

1.2 重組

為籌備首次公開發售 （「 首次公開發售 」）及上 市，本公司曾對現時組成 本集團的公司的公司架 構進行重組（「 重組 」）。為 落實重組而採取的主要 步驟如下：

• (a) 於二零一六年十一 月四日，本公司於 開曼群島註冊成 立為本集團的控股 公司。於註冊成立 後，一股面值 0.01 港元的股份（即本 公司的全部已發 行股本）獲配發及 發行予Next Vision， 該公司由楊先生、 張先生及 UCP 分別 擁有 75%、15% 及 10%。

• (b) I n T e c h n i c a l Productions (B.V.I.) Limited（「 ITP (BVI) 」） 於二零一六年十一 月九日在英屬處女 群島（「 英屬處女群 島 」）註冊成立為 ITP (HK) 及其附屬公司 的中間控股公司。 於註冊成立後，一 股面值 1.00 美元的 股份（即 ITP (BVI) 的 全部已發行股本） 獲配發及發行予本 公司。

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

• (c) On 24 November 2016, ITP (BVI) acquired 75%, 15% and 10% of the issued share capital of ITP (HK) from Mr. Yeung, Mr. Chang and UCP at a consideration of HK$24,531,855.38, HK$4,906,371.08 and HK$3,270,914.05, respectively. Such consideration was satisfied by allotting and issuing 74 shares, 15 shares and 10 shares in ITP (BVI) to the Company, as directed by Mr. Yeung, Mr. Chang and UCP, respectively, on 24 November 2016. Upon completion of the acquisition, ITP (HK) became a wholly-owned subsidiary of ITP (BVI).

Upon the completion of the Reorganisation, the Company became the holding company of other companies now comprising the Group.

2. BASIS OF PRESENTATION

Immediately prior to and after the Reorganisation, the Business had been and continues to be conducted through companies managed and controlled by Mr. Yeung. The Company has not been involved in any business prior to the Reorganisation. The Reorganisation is merely a reorganisation of the Business with no change in management and the controlling shareholders. The Group established resulting from the Reorganisation is regarded as a continuation of the Business and under common control of Mr. Yeung before and after the Reorganisation.

• (c) 於二零一六年十 一月二十四日， ITP (BVI)分別向楊先 生、張先生及 UCP 收購 ITP (HK) 已發行 股本的 75%、15% 及 10%，代價分別 為 24,531,855.38 港 元、4,906,371.08港 元 及 3,270,914.05 港元。該代價通過 按楊先生、張先生 及 UCP 的指示於二 零一六年十一月二 十四日分別向本公 司配發及發行 74 股、15 股 及 10 股 ITP (BVI) 股份結算。 於收購完成後，ITP (HK) 成為 ITP (BVI) 的 全資附屬公司。

於重組完成後，本公司成 為現時組成本集團的其 他公司的控股公司。

2. 呈列基準

緊接及緊隨重組前後，業務已 經並繼續透過楊先生管理及控 制的公司進行。本公司於重組 前並無涉及任何業務。重組僅 為業務重組，而管理層及控股 股東並無變動。因重組而成立 的本集團被視為業務的延續且 於重組前後由楊先生共同控制。

09

In Technical Productions Holdings Limited 第三季度業績報告2017/2018

Accordingly, the unaudited condensed consolidated financial statements of the Company is prepared in accordance with Hong Kong Financial Reporting Standards (“ HKFRSs ”) 10, “Consolidated Financial Statements”, issued by the Hong Kong Institute of Certified Public Accountants (“ HKICPA ”), by using the carrying values of the Business for all periods presented, or since the respective dates of incorporation of the subsidiaries within the Group, whichever is the later.

Intercompany transactions, balances and unrealised profits or losses on transactions between group companies are eliminated on consolidation.

The condensed consolidated financial statements have not been audited by the Company’s auditors, but have been reviewed by the audit committee of the Company.

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of preparation

The unaudited condensed consolidated financial statements of the Group have been prepared in accordance with HKFRSs and the disclosure requirements of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong). The unaudited condensed consolidated financial statements have been prepared under the historical cost convention, except that investment in an insurance contract is stated at its cash surrender value.

因此，本公司未經審核簡明綜 合財務報表乃透過採用於所有 呈列期間業務的賬面值或自本 集團內附屬公司各自註冊成立 日期起（以較後者為準）根據香 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 」）第 10 號 「綜合財務報表」編製。

集團內公司間交易、結餘及集 團公司間交易的未變現溢利或 虧損均於綜合入賬時予以抵銷。

簡明綜合財務報表尚未經本公 司核數師審核，惟已經本公司 審核委員會審閱。

3. 重要會計政策摘要

(a) 編製基準

本集團之未經審核簡明 綜合財務報表乃按照香 港財務報告準則及香港 法例第 622 章公司條例的 披露要求而編製。該未經 審核簡明綜合財務報表 根據歷史成本慣例編製， 惟保險合約的投資以保 單退保金額列示。

10

In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

(b) New and amended standards adopted by the Group

The following amendments to standards have been adopted by the Group for the first time for the financial year beginning on or after 1 June 2017:

Amendments to Disclosure initiative HKAS 7 Amendments to Recognitions of deferred HKAS 12 tax assets for unrealized losses Amendments to As part of the annual HKFRS 12 improvements to HKFRSs 2014–2016 cycle

The adoption of these amendments did not have any impact on the financial statements for the current period.

(b) 本集團採納的新訂 及經修訂準則

以下準則的修訂本已由 本集團於二零一七年六 月一日或之後開始的財 政年度首次採納：

香港會計準則 披露計劃 第7號 （修訂本） 香港會計準則 就未變現虧損 第12號 確認遞延稅 （修訂本） 項資產 香港財務報告 作為香港財務 準則第12號 報告準則二 （修訂本） 零一四年至 二零一六年 週期年度改 進的一部分

採納該等修訂對本期間 的財務報表並無任何影 響。

11

In Technical Productions Holdings Limited 第三季度業績報告2017/2018

• (c) New standards, amendments to existing standards and interpretations that have been issued but are not effective and have not been early adopted.

• (c) 已頒佈但尚未生效 且尚未提早採納的 新訂準則、現有準 則修訂本及詮釋。

				Effective for annual
				periods beginning
				on or after
				於下列日期或
				之後開始的
				年度期間生效
Amendments to HKAS 28	As part of the annual improvements to HKASs			1 January 2018
		2014–2016 cycle
香港會計準則第28號（修訂本）	作為香港會計準則二零一四年至二零一六年			二零一八年一月一日
		週期年度改進的一部分
Amendments to HKFRS 1	As part of the annual improvements to HKFRSs			1 January 2018
		2014–2016 cycle
香港財務報告準則第1號	作為香港財務報告準則二零一四年至			二零一八年一月一日
（修訂本）		二零一六年週期年度改進的一部分
Amendments to HKFRS 2	Classification and measurement of share-based			1 January 2018
		payment transactions
香港財務報告準則第2號	以股份為基礎付款的交易的分類及計量			二零一八年一月一日
（修訂本）
HKFRS 9	Financial instruments			1 January 2018
香港財務報告準則第9號	金融工具			二零一八年一月一日
HKFRS 15	Revenue from contracts with customers			1 January 2018
香港財務報告準則第15號	來自客戶合約的收益			二零一八年一月一日
HKFRS 16	Leases			1 January 2019
香港財務報告準則第16號	租賃			二零一九年一月一日
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
HK (IFRIC)-Int 22	Foreign currency transactions and advance			1 January 2018
		consideration
香港（國際財務報告詮釋委員會）	外幣交易及預付代價			二零一八年一月一日
－詮釋第22號
HK (IFRIC)-Int 23	Uncertainty over income tax treatment			1 January 2019
香港（國際財務報告詮釋委員會）	所得稅處理的不確定性			二零一九年一月一日
－詮釋第23號
Amendments to HKFRS 10 and	Sale or contribution of assets between an investor			To be determined
HKAS 28		and its associate or joint venture
香港財務報告準則第10號及香港	投資者與其聯營公司或合營企業之間的資產			待釐定
會計準則第28號（修訂本）		出售或注資

12

In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

4. REVENUE AND SEGMENT INFORMATION

4. 收益及分部資料

(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.

(a) 收益

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：

		Nine months ended	Nine months ended
		28 February
		截至二月二十八日
		止九個月
		2018	2017
		二零一八年	二零一七年
		HK$’000	HK$’000
		千港元	千港元
		(unaudited)	(unaudited)
		（未經審核）（未經審核）
Revenue from visual display	視像顯示解決方案服務
solution services	收益	59,338	44,420
Equipment rental income	設備租賃收入	354	133
		59,692	44,553

13

In Technical Productions Holdings Limited 第三季度業績報告2017/2018

(b) Segment information

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.

(b) 分部資料

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 與本未經審核簡明綜合 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。

The Group’s revenue is attributable to the following geographical markets:

本集團的收益來自以下 地區市場：

		Nine months ended	Nine months ended
		28 February
		截至二月二十八日
		止九個月
		2018	2017
		二零一八年	二零一七年
		HK$’000	HK$’000
		千港元	千港元
		(unaudited)	(unaudited)
		（未經審核）（未經審核）
Hong Kong	香港	17,969	20,869
PRC	中國	28,129	18,460
Macau	澳門	5,687	1,570
Taiwan	台灣	2,530	2,417
Others	其他	5,377	1,237
		59,692	44,553

14

In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

5. EXPENSES BY NATURE

5. 按性質劃分的開支

		Nine months ended	Nine months ended
		28 February
		截至二月二十八日
		止九個月
		2018	2017
		二零一八年 二零一七年
		HK$’000	HK$’000
		千港元	千港元
		(unaudited) (unaudited)
		（未經審核）（未經審核）
Auditor’s remuneration	核數師薪酬	975	750
Consultancy and technician fees	諮詢及技術費	243	373
Cost of equipment and spare parts	設備及配件成本	920	721
Depreciation of property, plant and	物業、廠房及設備折舊
equipment		11,282	8,194
Employee benefit expenses	員工福利開支	13,509	9,016
Equipment rental charges	設備租賃費	1,087	468
Freight and logistics expenses	運費及物流費	2,159	2,382
Legal and professional expenses	法律及專業費用	1,299	267
Sub-contracting charges	分包費	3,931	5,404
Travelling expenses	差旅費	878	461
Operating lease rentals in respect of	租賃物業的經營租賃
rental premises	租金	1,606	1,354
Professional service fees in respect of	有關籌備上市的專業
listing preparation	服務費	—	10,312
Others	其他	3,873	2,681
Total cost of services and	服務成本及行政開支
administrative expenses	總額	41,762	42,383

15

In Technical Productions Holdings Limited 第三季度業績報告2017/2018

6. EMPLOYEE BENEFIT EXPENSES

6. 僱員福利開支

EMPLOYEE BENEFIT EXPE	6. 僱 NSES	員福利開支	員福利開支
		Nine months ended
		28 February
		截至二月二十八日
		止九個月
		2018	2017
		二零一八年	二零一七年
		HK$’000	HK$’000
		千港元	千港元
		(unaudited)	(unaudited)
		（未經審核）（未經審核）
Wages, salaries and allowances,	工資、薪金及津貼
excluding directors’ emoluments	（不包括董事酬金）	10,366	6,944
Directors’ emoluments	董事酬金	2,053	1,024
Pension costs — contributions to	退休金費用 — 向界定
defined contribution plans	供款計劃供款	1,090	1,048
		13,509	9,016

7. FINANCE COSTS, NET

7. 財務成本淨額

		Nine months ended	Nine months ended
		28 February
		截至二月二十八日
		止九個月
		2018	2017
		二零一八年 二零一七年
		HK$’000	HK$’000
		千港元	千港元
		(unaudited) (unaudited)
		（未經審核）（未經審核）
Bank interest income	銀行利息收入	256	1
Interest on bank borrowings	銀行借款利息	(587)	(719)
Finance charges on obligations under	融資租賃承擔的
finance leases	融資費用	(48)	(19)
Imputed interest on payables for	應付設備之估算利息
equipment		(993)	(200)
Imputed interest on shareholder’s	股東貸款之估算利息
loan		(382)	—
Finance costs	財務成本	(2,010)	(938)
Finance costs, net	財務成本淨額	(1,754)	(937)

16

In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

8. INCOME TAX EXPENSE

8. 所得稅開支

Hong Kong profits tax has been provided for at the rate of 16.5% on the estimated assessable profit for the nine months ended 28 February 2018 and 2017. The companies in the Group established in the PRC are subject to the PRC enterprise income tax at the rate of 25% for the nine months ended 28 February 2018 and 2017.

香港利得稅按截至二零一八年 及二零一七年二月二十八日止 九個月的估計應課稅溢利以稅 率 16.5% 計提撥備。截至二零一 八年及二零一七年二月二十八 日止九個月，本集團在中國境 內設立的公司須受制於 25% 的 中國企業所得稅稅率。

Taxes on profits assessable elsewhere have been calculated at the applicable rates of tax prevailing in the jurisdictions in which the Group operates, based on existing legislation, interpretations and practices in respect thereof.

其他地方應課稅溢利的稅項乃 按本集團經營所在司法權區現 行的適用稅率，根據其現有法 律、詮釋及慣例計算。

The amounts of taxation charged to profit and loss represent:

自損益扣除的稅項金額指：

		Nine months ended 28	Nine months ended 28
		February
		截至二月二十八日
		止九個月
		2018	2017
		二零一八年	二零一七年
		HK$’000	HK$’000
		千港元	千港元
		(unaudited)	(unaudited)
		（未經審核）（未經審核）
Current income tax:	即期所得稅：
Hong Kong profits tax	香港利得稅	(3,425)	—
Deferred income tax relating to	產生及撥回暫時差額
origination and reversal of	相關的遞延所得稅
temporary differences		—	(2,012)
		(3,425)	(2,012)

9. DIVIDENDS

9. 股息

The Directors do not recommend the payment of dividend for the nine months ended 28 February 2018 (nine months ended 28 February 2017: Nil).

董事不建議派付截至二零一八 年二月二十八日止九個月的股 息（截至二零一七年二月二十八 日止九個月：零）。

17

In Technical Productions Holdings Limited 第三季度業績報告2017/2018

10. EARNINGS/(LOSS) PER SHARE

10. 每股盈利╱（虧損）

For the nine months ended 28 February 2018, 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 ordinary Shares issued during the period.

截至二零一八年二月二十八日 止九個月，每股基本盈利乃按(i) 本公司擁有人應佔溢利及 (ii) 期 內已發行普通股之加權平均數 計算。

For the nine months ended 28 February 2017, the basic loss per Share is calculated based on the loss attributable to owners of the Company and 600,000,000 Shares, which have been adjusted retrospectively as if the Reorganisation and the allotment and issue of 599,999,999 Shares to Next Vision by way of capitalisation of an amount of approximately HK$12,000,000 owed by ITP (HK) to Next Vision had been effective on 1 June 2016.

截至二零一七年二月二十八 日止九個月，每股基本虧損乃 按本公司擁有人應佔虧損及 600,000,000 股股份計算，這計 算已進行追溯調整，猶如重組 及 ITP (HK) 結欠 Next Vision 的約 12,000,000港元款項通過資本化 方式配發及發行 599,999,999 股 股份予 Next Vision 於二零一六年 六月一日已生效。

Nine months ended 28
February
截至二月二十八日
止九個月
2018 2017
二零一八年 二零一七年
(unaudited) (unaudited)
（未經審核）（未經審核）

Profit/(loss) attributable to owners of	本公司擁有人應佔
the Company (HK$’000)	溢利╱（虧損）
	（千港元）	13,716	(408)
Weighted average number of	已發行普通股之加權
ordinary Shares in issue	平均數（千股）
(thousand Shares)		790,476	600,000
Earnings/(loss) per Share (HK cents)	每股盈利╱（虧損）
	（港仙）	1.74	(0.07)

Diluted earnings/(loss) per Share were same as the basic earnings/(loss) per Share as there were no potential dilutive Shares in existence during the reporting period.

每股攤薄盈利╱（虧損）與每股 基本盈利╱（虧損）相同，因為於 本報告期內並無存在潛在的攤 薄股份。

18 In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

MANAGEMENT DISCUSSION AND ANALYSIS

BUSINESS REVIEW

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

During the nine months ended 28 February 2018, the Group was engaged in 283 pop concert shows and 233 other live events (nine months ended 28 February 2017: 235 pop concert shows and 222 other live events).

The Group derived approximately 88.9% of its total revenue during the nine months ended 28 February 2018 from pop concerts (nine months ended 28 February 2017: approximately 79.5%), 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.

The Shares have been listed on the GEM of the Stock Exchange by way of the offer of 200,000,000 new Shares (the “ Share Offer ”) since 14 June 2017 (the “ Listing Date ”). The proceeds from the Share Offer have strengthened the Group’s cash flow position and enabled the Group to implement its future plans and business strategies as set out in the section headed “Statement of Business Objectives and Use of Proceeds” in the prospectus of the Company dated 31 May 2017 in relation to the Share Offer (the “ Prospectus ”).

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。

截至二零一八年二月二十八日止九個 月，本集團舉行了283場流行音樂會及 233 場其他現場活動（截至二零一七年 二月二十八日止九個月：235場流行音 樂會及222場其他現場活動）。

截至二零一八年二月二十八日止九個 月，本集團收益總額的約 88.9% 來自 流行音樂會（截至二零一七年二月二 十八日止九個月：約 79.5%），大部分 流行音樂會分別在香港、中國及澳門 進行。本集團餘下的收益則來自其他 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等以 及設備租賃。

股份自二零一七年六月十四日（「 上市 日期 」）通過發售 200,000,000 股新股 份（「 股份發售 」）方式於聯交所 GEM 上 市。股份發售收到的所得款項加強了 本集團現金流量現狀，讓本集團能夠 實施日期為二零一七年五月三十一日 之與股份發售有關之本公司招股章程 （「 招股章程 」）「業務目標聲明及所得款 項用途」一節所述之未來計劃及業務 戰略。

19

In Technical Productions Holdings Limited 第三季度業績報告2017/2018

FINANCIAL REVIEW

財務回顧

Revenue

收益

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.

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。

The following table sets out a breakdown of the Group’s revenue by source of income during the nine months ended 28 February 2018 with the comparative figures for the nine months ended 28 February 2017:

下表按收入來源載列本集團截至二零 一八年二月二十八日止九個月之收益 明細及截至二零一七年二月二十八日 止九個月之比較數字：

		Nine months ended Nine months	Nine months ended Nine months	ended
		28 February 2018 28 February		2017
		截至二零一八年 截至二零一七年
		二月二十八日止九個月 二月二十八日止九個月
		% 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	59,338 99.4 44,420		99.7
Equipment rental	設備租賃	354 0.6 133		0.3
Total	總計	59,692 100.0 44,553		100.0

During the nine months ended 28 February 2018, the Group principally derived its revenue from the provision of visual display solutions, which accounted for nearly 99.4% of the Group’s total revenue (nine months ended 28 February 2017: approximately 99.7%). The Group’s revenue increased by approximately 34.0% from approximately HK$44.6 million for the nine months ended 28 February 2017 to approximately HK$59.7 million for the nine months ended 28 February 2018.

截至二零一八年二月二十八日止九個 月，本集團收益主要來自提供視像顯 示解決方案，其佔本集團收益總額的 近 99.4%（截至二零一七年二月二十八 日止九個月：約 99.7%）。本集團收益 由截至二零一七年二月二十八日止九 個月的約 44.6 百萬港元增長約 34.0% 至截至二零一八年二月二十八日止九 個月的約59.7百萬港元。

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

Visual display solutions

The following table sets out a breakdown of the Group’s revenue from visual display solutions during the nine months ended 28 February 2018 with the comparative figures for the nine months ended 28 February 2017. For the purpose of revenue breakdown presentation, other live events include corporate events, sports and recreation events, exhibitions and other live performances.

視像顯示解決方案

下表載列截至二零一八年二月二十八 日止九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二月二 十八日止九個月之比較數字。就呈列 收益明細而言，其他現場活動包括企 業活動、體育及娛樂活動、展會及其 他現場表演。

		Nine months ended 28 February 2018	Nine	months ended 28 February 2017	months ended 28 February 2017	months ended 28 February 2017
		截至二零一八年二月二十八日止九個月	截至二零一七年二月二十八日止九個月
		% 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 佔視像顯示	shows	Revenue	solutions 佔視像顯示		show
		解決方案 每場			解決方案		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	283 53,077 89.4 188	235	35,408	79.7		151
Other live events	其他現場活動	233 6,261 10.6 27	222	9,012	20.3		41
Total revenue from	視像顯示解決
visual display	方案收益
solutions	總額	516 59,338 100.0 115	457	44,420	100.0		97

The increase in revenue from pop concerts was mainly attributable to (i) the increase in the number of pop concert shows undertaken by the Group from 235 for the nine months ended 28 February 2017 to 283 for the nine months ended 28 February 2018; and (ii) the increase in the average revenue per show for pop concerts from approximately HK$151,000 for the nine months ended 28 February 2017 to approximately HK$188,000 for the nine months ended 28 February 2018 as a result of the increase in 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 由截至二零一七年二月二十八日止 九個月的 235 場增至截至二零一八年 二月二十八日止九個月的 283 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 增加，使每場演出平均收益由截至二 零一七年二月二十八日止九個月的約 151,000港元增至截至二零一八年二月 二十八日止九個月的約188,000港元。

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

The decrease in revenue from other live events was mainly attributable to the decrease in the average revenue per show for other live events from approximately HK$41,000 for the nine months ended 28 February 2017 to approximately HK$27,000 for the nine months ended 28 February 2018 because the Group undertook fewer largescale corporate events in the PRC and Macau for the nine months ended 28 February 2018.

來自其他現場活動的收益減少主要是 由於截至二零一八年二月二十八日止 九個月，本集團在中國及澳門承接較 少大型企業活動，使其他現場活動的 每場演出平均收益由截至二零一七年 二月二十八日止九個月的約 41,000 港 元減少至截至二零一八年二月二十八 日止九個月的約27,000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 revenue of the Group from pop concerts by geographical location during the nine months ended 28 February 2018 with comparative figures for the nine months ended 28 February 2017:

下表載列截至二零一八年二月二十八 日止九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 七年二月二十八日止九個月之比較數 字：

		Nine months ended 28 February 2018	Nine	months ended 28 February 2017	months ended 28 February 2017	months ended 28 February 2017
		截至二零一八年二月二十八日止九個月	截至二零一七年二月二十八日止九個月
		% of total			% of total
		revenue Average			revenue	Average
		No. of from pop revenue	No. of		from pop	revenue per
		shows Revenue concerts per show 佔	shows	Revenue	concerts 佔		show
		流行音樂會 每場			流行音樂會		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
Hong Kong	香港	138 12,539 23.6 91	113	13,522	38.2		120
PRC	中國	94 28,129 53.0 299	100	17,651	49.9		177
Macau	澳門	22 4,502 8.5 205	7	580	1.6		83
Taiwan	台灣	14 2,530 4.8 181	11	2,418	6.8		220
Others	其他	15 5,377 10.1 358	4	1,237	3.5		309
Total revenue from	來自流行音樂
pop concerts	會的總收益	283 53,077 100.0 188	235	35,408	100.0		151

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

During the nine months ended 28 February 2018, the Group provided services for a well-known Hong Kong artist for 43 shows (nine months ended 28 February 2017: 26) of concert tour in the PRC; nil show (nine months ended 28 February 2017: 23) in Hong Kong; 6 shows (nine months ended 28 February 2017: nil) in Macau and 13 shows (nine months ended 28 February 2017: 9) in other locations. Due to the significant amount of equipment (including some custom-made LED panels) used in that concert tour, the Group charged that customer with relatively higher service charges for each show in the PRC, Macau and other locations. Therefore, the Group had a higher average revenue per show in the PRC, Macau and other locations for the nine months ended 28 February 2018 as compared with the nine months ended 28 February 2017.

截至二零一八年二月二十八日止九 個月，本集團向一位香港知名藝人在 中國舉行的 43 場巡迴演唱會（截至二 零一七年二月二十八日止九個月：26 場）；在香港舉行的零場演出（截至二 零一七年二月二十八日止九個月：23 場）；在澳門舉行的 6 場演出（截至二 零一七年二月二十八日止九個月：零 場）以及在其他地區舉行的 13 場演出 （截至二零一七年二月二十八日止九 個月：9 場）提供服務。由於巡迴演唱 會所用設備（包括部分定製LED顯示屏） 數量繁多，本集團就於中國、澳門及 其他地區舉辦的各場演出向該客戶收 取相對較高的服務費用。因此，截至 二零一八年二月二十八日止九個月， 我們在中國、澳門及其他地區的每場 演出平均收益較截至二零一七年二月 二十八日止九個月為高。

The following table sets out a breakdown of the revenue of the Group from other live events by geographical location during the nine months ended 28 February 2018 with comparative figures for the nine months ended 28 February 2017:

下表載列截至二零一八年二月二十八 日止九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 一七年二月二十八日止九個月之比較 數字：

		Nine months ended 28 February 2018	Nine	months ended 28 February 2017	months ended 28 February 2017	months ended 28 February 2017
		截至二零一八年二月二十八日止九個月	截至二零一七年二月二十八日止九個月
		% of total			% of total
		revenue Average			revenue	Average
		No. of from pop revenue	No. of		from pop	revenue per
		shows Revenue concerts per show 佔流行	shows	Revenue	concerts 佔流行	show
		音樂會			音樂會
		總收益的 每場演出的			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	219 5,076 81.1 23	214	7,213	80.0	34
PRC	中國	— — — —	2	809	9.0	405
Macau	澳門	14 1,185 18.9 85	6	990	11.0	165
Total revenue from	來自其他現場活
other live events	動的總收益	233 6,261 100.0 27	222	9,012	100.0	41

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

Gross profit and gross profit margin

Gross profit of the Group for the nine months ended 28 February 2018 amounted to approximately HK$30.6 million (nine months ended 28 February 2017: approximately HK$21.2 million), representing gross profit margin of approximately 51.2% (nine months ended 28 February 2017: approximately 47.5%). The increase of the gross profit margin was mainly attributable to the higher rate of utilisation of the visual display equipment 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 nine months ended 28 February 2018 and 2017, all PRC subsidiaries of the Company were subject to an Enterprise Income Tax 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 nine months ended 28 February 2018 and 2017, respectively.

The effective income tax rate of the Group was 20.6% for the nine months ended 28 February 2018. For the nine months ended 28 February 2017, if the effect of the one-off Listing expenses of HK$10.3 million was excluded, the effective income tax rate would have been 16.9% in this period.

毛利及毛利率

截至二零一八年二月二十八日止九個 月，本集團的毛利約為 30.6 百萬港元 （截至二零一七年二月二十八日止九 個月：約 21.2 百萬港元），毛利率約為 51.2%（截至二零一七年二月二十八日 止九個月：約 47.5%）。該毛利率增長 主要是由於本集團的視像顯示裝置的 使用率提升。

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 二零一七年二月二十八日止九個月， 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 八年及二零一七年二月二十八日止九 個月，本公司之香港附屬公司分別按 16.5% 的稅率就估計應課稅溢利繳納 香港利得稅。

截至二零一八年二月二十八日止九 個月，本集團的實際所得稅稅率為 20.6%。截至二零一七年二月二十八 日止九個月，倘撇除一次性上市開支 10.3 百萬港元的影響，本期間的實際 所得稅稅率則為16.9%。

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

Profit/(loss) for the period

As a result of the foregoing, the Group’s profit was approximately HK$13.2 million for the nine months ended 28 February 2018, representing an increase of approximately HK$13.6 million as compared with a loss of approximately HK$0.4 million for the nine months ended 28 February 2017. The increase was mainly due to (i) the increase of gross profit for the nine months ended 28 February 2018 as compared with the gross profit for the nine months ended 28 February 2017; and (ii) the recognition of the Listing expenses of approximately HK$10.3 million for the nine months ended 28 February 2017 (nine months ended 28 February 2018: Nil). Taking no account of the one-off Listing expenses, the Group’s adjusted profit for the nine months ended 28 February 2017 would have been approximately HK$9.9 million and the Group’s profit for the nine months ended 28 February 2018 would have increased by approximately HK$3.3 million or approximately 33.5% as compared with the adjusted profit for the nine months ended 28 February 2017.

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$30.6 million as at 28 February 2018 (28 February 2017: net current liabilities of approximately HK$12.9 million).

期內溢利╱（虧損）

由於上文所述，本集團於截至二零一 八年二月二十八日止九個月的溢利約 為 13.2 百萬港元，較截至二零一七年 二月二十八日止九個月之虧損約0.4 百 萬港元增加約 13.6 百萬港元。增加乃 主要由於 (i) 截至二零一八年二月二十 八日止九個月的毛利較截至二零一七 年二月二十八日止九個月的毛利有所 增加；及 (ii) 於截至二零一七年二月二 十八日止九個月確認上市開支約 10.3 百萬港元（截至二零一八年二月二十 八日止九個月：零）。撇除一次性上市 開支，截至二零一七年二月二十八日 止九個月，本集團經調整溢利將達到 約 9.9 百萬港元，而本集團截至二零一 八年二月二十八日止九個月的溢利將 較截至二零一七年二月二十八日止九 個月的經調整溢利增加約3.3 百萬港元 或約33.5%。

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 年二月二十八日錄得流動資產淨額約 為 30.6 百萬港元（二零一七年二月二 十八日：流動負債淨額約 12.9 百萬港 元）。

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

As at 28 February 2018, the Group’s current ratio was approximately 1.9 (28 February 2017: approximately 0.7) 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 11.7% (28 February 2017: approximately 86.0%). The decrease of the Group’s gearing ratio in the nine months ended 28 February 2018 was mainly due to capitalisation of shareholder’s loan and the net proceeds received from the Listing of approximately HK$12.0 million and HK$34.5 million, respectively.

As at 28 February 2018, the maximum limit of the banking facilities available to the Group amounted to HK$13.3 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, HK$11.3 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 HK$2.0 million was granted by another bank upon and subject to the condition that Mr. Yeung, Mr. Chang and UCP 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 4.0% to 6.0% per annum (28 February 2017: 4.0% to 7.0% per annum).

As at 28 February 2018, the capital structure of the Group consisted of equity attributable to owners of the Company of approximately HK$103.2 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.

於二零一八年二月二十八日，本集團 的流動比率約為 1.9（二零一七年二月 二十八日：約 0.7）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 11.7%（二零一七年二月 二十八日：約 86.0%）。本集團資產負 債比率於截至二零一八年二月二十八 日止九個月減少主要是由於股東貸款 資本化及自上市取得所得款項淨額分 別約為12.0百萬港元及34.5百萬港元。

於二零一八年二月二十八日，本集團 最大限額銀行融資為 13.3 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，11.3 百萬港元已獲一間銀行 按及受限於下列條件下授出：(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%；而 餘下的2.0 百萬港元已獲另一間銀行按 及受限於下列條件下授出：楊先生、 張先生及 UCP 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 4.0% 至 6.0%（二零一七年二月二十八 日：年利率介乎4.0%至7.0%）。

於二零一八年二月二十八日，本集團 資本架構包括本公司持有人應佔之權 益約 103.2 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。

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

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 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 nine months ended 28 February 2018.

TREASURY POLICIES

The Group has adopted a prudent financial management approach towards its treasury policies and thus maintained a healthy liquidity position throughout the nine months ended 28 February 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 period from the Listing Date to 28 February 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 28 February 2018, the Group did not have any material capital commitments or any material contingent liabilities.

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 」）購買及以人民幣 （「 人民幣 」）出售。當未來商業交易、 確認資產及負債以不是集團實體功能 貨幣計值時，則會出現外匯風險。於 截至二零一八年二月二十八日止九個 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。

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二月 二十八日止九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

於上市日期至二零一八年二月二十八 日期間，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

於二零一八年二月二十八日，本集團 並無任何重大資本承擔事項或任何重 大或有負債。

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

DIVIDEND

The Board does not recommend the payment of a dividend for the nine months ended 28 February 2018.

PLEDGE OF ASSETS

As at 28 February 2018, the Group has pledged shortterm bank deposits in the amount of HK$3.0 million as security for the Group’s banking facilities.

USE OF PROCEEDS AND COMPARISON OF BUSINESS OBJECTIVES WITH ACTUAL BUSINESS PROGRESS

As disclosed in the 2017 Annual Report of the Company, the actual net proceeds (the “ Net Proceeds ”) from the Share Offer (after deduction of the underwriting commission and Listing related expenses) were approximately HK$34.5 million, which was less than the estimated Net Proceeds of approximately HK$35.5 million as set out in the Prospectus and the allotment results announcement of the Company dated 13 June 2017, and the amount of Net Proceeds allocated for use as general

股息

截至二零一八年二月二十八日止九個 月，董事會不建議派付股息。

資產抵押

於二零一八年二月二十八日，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。

所得款項用途及業務目標 與實際業務進程之比較

誠如本公司二零一七年年報所披露， 股份發售所得款項實際淨額（「 所得款 項淨額 」）（扣除包銷佣金及上市相關開 支後）約為 34.5 百萬港元，少於招股章 程及本公司日期為二零一七年六月十 三日之配發結果公告所載之估計所得 款項淨額約 35.5 百萬港元，因此，分 配用作一般營運資金之所得款項淨額

28

In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

working capital has been adjusted from HK$1.7 million to HK$0.7 million accordingly. Set out below is the actual use of the Net Proceeds up to 28 February 2018:

由 1.7 百萬港元調整至 0.7 百萬港元。 下文載列直至二零一八年二月二十八 日之所得款項淨額實際用途：

											Actual use of	Actual use of			Unused total
				Planned			Approximate				Net Proceeds				Net Proceeds
			use of total					percentage			up to				up to
				Net				of total Net			28 February				28 February
Use of Net Proceeds				Proceeds				Proceeds			2018				2018
											直至				直至
											二零一八年				二零一八年
				總所得				佔總所得			二月二十八日				二月二十八日
				款項淨額				款項淨額			之所得款項				之尚未使用總
所得款項淨額用途				計劃用途				概約百分比			淨額實際用途				所得款項淨額
				(HK$’000)				%			(HK$’000)				(HK$’000)
				（千港元）				%			（千港元）				（千港元）
Repayment of bank	償還銀行貸款
loans (Note 1)		（附註1）		9,847				28.6			6,787				3,060
Acquisition of visual	收購視像顯示
display equipment		設備以擴展
for our business		我們在上海
operation in		的業務
Shanghai (Note 2)		（附註2）		11,602				33.7			8,379				3,223
Settlement of	結算巡迴演唱
payables for new		會A的新視
visual display		像顯示設備
equipment for		應付款項
Concert Tour A		（附註3）
(Note 3)				10,656				30.9			10,656				—
Recruitment of	為企業活動及
creative director		展覽招聘創
for corporate		作總監
events and		（附註4）
exhibitions (Note 4)				1,652				4.8			0				1,652
Working capital	營運資金			693				2.0			316				377
Total	總計			34,450				100.0			26,138				8,312

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

Notes:

1. The repayment of bank loans has been executed according to the maturity dates as set out in the loan agreements agreed with banks.

2. The procurement budget of additional LED panels and video control units is designed based on the progress of our business expansion in Shanghai.

3. The Group has fully settled the payables for new visual display equipment for Concert Tour A so as to strengthen its business relationship with the supplier.

4. The Group has been actively involved in the recruitment and selection of suitable candidates for the post of creative director since August 2017 through various means including job advertisements in major newspapers.

The unutilised Net Proceeds of approximately HK$8.3 are deposited in licensed banks in Hong Kong.

EMPLOYEES AND REMUNERATION POLICIES

As at 28 February 2018, the Group engaged a total of 77 employees (28 February 2017: 61) including the Directors. For the nine months ended 28 February 2018, total staff costs amounted to approximately HK$13.5 million (nine months ended 28 February 2017: approximately HK$9.0 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 28 February 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.

附註：

1. 銀行貸款已根據與銀行協定的貸款協議 所載之到期日還款。

2. 額外 LED 顯示屏及視像控制單元的採購 預算乃根據我們於上海的業務擴張進度 設計。

3. 本集團已悉數結付巡迴演唱會A 的新視 像顯示設備應付款項，以鞏固其與供應 商的業務關係。

4. 自二零一七年八月起，本集團已通過不 同方法積極招聘及甄選創作總監職位的 合適人選，包括於主要報章中刊登招聘 廣告。

尚未使用所得款項淨額約8.3 百萬港元 已存入香港持牌銀行。

僱員及薪酬政策

於二零一八年二月二十八日，本集團 共聘用 77 名僱員（二零一七年二月二 十八日：61 名），其中包括董事。截至 二零一八年二月二十八日止九個月， 員工成本總額約為13.5 百萬港元（截至 二零一七年二月二十八日止九個月： 約 9.0 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

由二零一八年二月二十八日起至本報 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。

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

INTERESTS OF THE COMPLIANCE ADVISER

As at 28 February 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.

AUDIT COMMITTEE

The Company has established an audit committee on 19 May 2017 (the “ 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 nine months ended 28 February 2018 and the effectiveness of internal control system of the Group.

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

The Directors confirm that during the period from the Listing Date to 28 February 2018, there has been no purchase, sale or redemption of the Company’s listed securities.

合規顧問之權益

於二零一八年二月二十八日，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）。

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 至二零一八年二月二十八日止九個月 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，自上市日期至二零一八年 二月二十八日期間，本公司概無購 買、出售或贖回上市證券。

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In Technical Productions Holdings Limited 第三季度業績報告2017/2018

DIRECTORS’ AND CONTROLLING SHAREHOLDERS’ INTERESTS IN COMPETING BUSINESS

During the period from the Listing Date to the date of this report, 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 from the Listing Date to the date of this report.

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 period from the Listing Date to 28 February 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 28 February 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 (Chapter 571 of the Laws of Hong Kong) (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 Exchange pursuant to the

董事及控股股東在競爭 業務中的權益

自上市日期起直至本報告日期期間， 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）自上市日期至本報 告日期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。

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，確認所有董事均自上市日 期至二零一八年二月二十八日期間遵 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

於二零一八年二月二十八日，董事及 本公司主要行政人員於本公司或其相 聯法團（定義見香港法例第 571 章證券 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

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

required standard of dealings by directors of listed issuer as referred to in Rule 5.46 of the GEM Listing Rules, were as follows:

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) Long positions in Shares and underlying Shares

(i) 於股份及相關股份的 好倉

underlying Shares				好倉
				Number of		Percentage of
Name of Director	Capacity/ Nature of interest			Shares		shareholding
董事姓名	身份╱權益性質			股份數目		股權百分比
Mr. Yeung	Interest in a controlled			600,000,000		75.0%
		corporation (Note 1)		(Note 1)
楊先生	受控法團權益（附註1）			600,000,000		75.0%
				（附註1）

Note: 附註： 1. Mr. Yeung beneficially owns 75% equity interest in 1. 楊先生實益擁有 Next Vision 的 Next Vision. By virtue of the SFO, Mr. Yeung was 75% 權益。根據證券及期貨條 deemed to be interested in the Shares held by Next 例，楊先生被視為於 Next Vision Vision. 持有的股份中擁有權益。 Long positions in the shares and (ii) 於本公司相聯法團 underlying shares in associated 股份及相關股份的 corporation of the Company 好倉

(ii) Long positions in the shares and underlying shares in associated corporation of the Company

Name of	Name of associated	Name of associated								Number of			Percentage of
Director	corporation				Capacity					shares			shareholding
董事姓名	相聯法團名稱				身份					股份數目			股權百分比
Mr. Yeung	Next Vision (Note 1)				Beneficial owner					7,500			75%
										(Note 1)
楊先生	Next Vision（附註1）				實益擁有人					7,500			75%
										（附註1）

Note:

附註：

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

2. 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 第三季度業績報告2017/2018

Save as disclosed above, as at 28 February 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 (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.

除上文所披露者外，於二零一八年二 月二十八日，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

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

As at 28 February 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:

於二零一八年二月二十八日，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：

(i) Long positions in Shares

(i) 於股份的好倉

Long positions in Sha		(i) res		於股份的好
				Number of
				Shares held/		Percentage of
Name of shareholder	Capacity/Nature of interest			Interested		shareholding
				持有╱擁有
股東名稱	身份╱權益性質			權益股份數目		股權百分比
Next Vision (Note 1)	Beneficial owner			600,000,000		75.0%
				(Note 1)
Next Vision（附註1）	實益擁有人			600,000,000		75.0%
				（附註1）

Note:

附註：

1. 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.

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。

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In Technical Productions Holdings Limited Third Quarterly Report 2017/2018

Save as disclosed above, as at 28 February 2018, 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.

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 28 February 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 28 February 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.

除上文所披露者外，於二零一八年二 月二十八日，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。

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二月二十八日 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 二月二十八日期間，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 第三季度業績報告2017/2018

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 proactively seek potential business opportunities and explore the possibility to expand the application of the Group’s visual display solutions to industries other than live events industry that will 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, 10 April 2018

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。

董事會將積極尋求潛在商機並探索將 本集團的視像顯示解決方案擴展應用 於現場活動行業以外行業，以擴大本 集團的收入來源及為股東增值。

在未來，董事會相信，透過善用其優 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），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，二零一八年四月十日

36

In Technical Productions Holdings Limited Third Quarterly Report 2017/2018