Digital Hollywood Interactive Limited — Annual Report 2020

Apr 30, 2021

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CONTENTS

目錄

Definitions 釋義 2

8

11

13

82

105

113

• Corporate Profile 公司資料
• Milestones 里程碑
• Financial Highlights 財務摘要
• Financial Summary 財務概要 14
• Chairman's Statement 主席報告 15
• Profiles of Directors and Senior Management 董事及高級管理層資料 19
• Management Discussion and Analysis 管理層討論及分析 26
• Corporate Governance Report 企業管治報告 37
• Environmental, Social and Governance Report 環境、社會與管治報告 53
• Directors' Report 董事會報告
• Independent Auditor's Report 獨立核數師報告
• Financial Statements and Notes to the Financial Statements 財務報表及財務報表附註

在本年報內,除文義另有規定外,下列詞彙具有以下涵義: In this annual report, unless the context otherwise requires, the following expressions shall have the following meanings:

"2021 AGM"	the AGM to be held on June 2, 2021
「二零二一年股東週年大會」	本公司將於二零二一年六月二日舉行的股東週年大會
"AGM"	annual general meeting of the Company
「股東週年大會」	本公司的股東週年大會
"Angame"	Angame Inc., a company incorporated in the BVI with limited liability on July 5, 2005, which is a wholly-owned subsidiary of the Company
「Angame」	Angame Inc.,一家於二零零五年七月五日在英屬處女群島註冊成立的有限公司,為本公司的 全資附屬公司
"ARPPU"	average revenue per month per paying user, which represents our revenue recognized for a particular game, a particular type of games or all of our games, as applicable, in the period divided by the number of paying users of the game, the type of games or all of our
「ARPPU」	games, as applicable, in such period 每名付費用戶每月平均收入,指一款遊戲、一類遊戲或我們所有遊戲(如適用)於一段期間內所 確認的收入,除以該款遊戲、該類遊戲或我們所有遊戲(如適用)於該期間內的付費用戶數目
"Articles"	the memorandum and articles of association of the Company as amended from time to time
「組織章程細則」	本公司經不時修訂的組織章程大綱及細則
"Audit Committee"	the audit committee of the Board
「審核委員會」	董事會轄下審核委員會
"Board Committees" 「董事委員會」	the Audit Committee, the Remuneration Committee and the Nomination Committee 審核委員會、薪酬委員會及提名委員會
"Board of Directors" or "Board" 「董事會」	the board of Directors of the Company 本公司董事會
"BVI"	British Virgin Islands
「英屬處女群島」	英屬處女群島

釋義(續)

"Beijing You Lai"	Beijing You Lai Information Technology Company Limited* (北京遊萊信息科技有限公司), a company established in the PRC with limited liability on November 14, 2014, which is an indirect wholly-owned subsidiary of the Company
「北京遊萊」	北京遊萊信息科技有限公司,一家於二零一四年十一月十四日在中國成立的有限公司,為本公 司的間接全資附屬公司
"Beijing You Tang"	Beijing You Tang Information Technology Company Limited* (北京遊堂信息科技有限公 司), a company established in the PRC with limited liability on July 17, 2015, which is an indirect wholly-owned subsidiary of the Company
「北京遊堂」	北京遊堂信息科技有限公司,一家於二零一五年七月十七日在中國成立的有限公司,為本公司 的間接全資附屬公司
"CG Code" or "Code" 「企業管治守則」或「守則」	the "Corporate Governance Code" as contained in Appendix 14 to the Listing Rules 上市規則附錄十四所載的「企業管治守則」
"China" or "PRC"	the People's Republic of China, which for the purpose of this annual report and for geographical reference only, excludes Hong Kong, Macau Special Administrative Region of the PRC and Taiwan
「中國」	中華人民共和國,僅就本年報及地理提述而言,不包括香港、澳門特別行政區及台灣
"Company", "our Company", "Digital Hollywood", "Group", "our Group", "we", "our" or "us"	Digital Hollywood Interactive Limited (遊萊互動集團有限公司*), a company incorporated under the laws of the Cayman Islands with limited liability on November 24, 2014 and except where the context indicated otherwise (1) our subsidiaries and (2) with respect to the period before our Company became the holding company of our present subsidiaries, the business operated by our present subsidiaries or (as the case may be) their predecessors
「本公司」、「遊萊互動」、 「本集團」或「我們」	Digital Hollywood Interactive Limited(遊萊互動集團有限公司*),一家於二零一四年十一月二 十四日根據開曼群島法律註冊成立的有限公司,以及除文義另有所指外,(1)我們的附屬公司及 (2)就於本公司成為現有附屬公司的控股公司前的期間而言,由現有附屬公司或(視情況而定) 其前身公司所經營的業務
"Controlling Shareholder(s)"	has the meaning ascribed thereto under the Listing Rules and unless the context requires otherwise, refers to Mr. LU Yuanfeng, Ms. LUO Simin, Mr. HUANG Guozhan, Mr. HUANG Deqiang, LYF Digital Holdings Limited, Angel Age Limited, LXT Digital Holdings Limited and HDQ Digital Holdings Limited
「控股股東」	具有上市規則所賦予的涵義,除文義另有所指外,指陸源峰先生、駱思敏女士、黃國湛先 生、黃德強先生、LYF Digital Holdings Limited、Angel Age Limited、LXT Digital Holdings Limited及HDQ Digital Holdings Limited
"COVID-19 Outbreak" 「COVID-19疫情」	the outbreak of the novel coronavirus 新型冠狀病毒肺炎疫情

釋義(續)

"Director(s)"	the director(s) of the Company or any one of them
「董事」	本公司董事或其中任何一名董事
"FY2019"	the year ended December 31, 2019
「二零一九財政年度」	截至二零一九年十二月三十一日止年度
"FY2020"	the year ended December 31, 2020
「二零二零財政年度」	截至二零二零年十二月三十一日止年度
"Guangzhou SYND"	Guangzhou Suiyue Niandai Software Technology Company Limited* (廣州歲月年代軟件 科技有限公司), a company established in the PRC with limited liability on June 12, 2010, which is an indirect wholly-owned subsidiary of the Company
「廣州歲月年代」	廣州歲月年代軟件科技有限公司,一家於二零一零年六月十二日在中國成立的有限公司,為本 公司的間接全資附屬公司
"Guangzhou You Lai"	Guangzhou You Lai Information Technology Company Limited* (廣州遊萊信息科技有限公 司), a company established in the PRC with limited liability on May 13, 2015, which is an indirect wholly-owned subsidiary of the Company
「廣州遊萊」	廣州遊萊信息科技有限公司,一家於二零一五年五月十三日在中國成立的有限公司,為本公司 的間接全資附屬公司
"Guangzhou ZYK"	Guangzhou Zhang Ying Kong Information Technology Company Limited* (廣州掌贏控信息 科技有限公司), a company established in the PRC with limited liability on March 6, 2013, which is an indirect wholly-owned subsidiary of the Company
「廣州掌贏控」	廣州掌贏控信息科技有限公司,一家於二零一三年三月六日在中國成立的有限公司,為本公司 的間接全資附屬公司
"HK\$" or "Hong Kong Dollars" 「港元」	Hong Kong Dollars, the lawful currency of Hong Kong 香港法定貨幣港元
"Hollywood BVI"	Digital Hollywood International Limited, a company incorporated in the BVI with limited liability on November 25, 2014, which is a wholly-owned subsidiary of the Company
「Hollywood BVI」	Digital Hollywood International Limited,一家於二零一四年十一月二十五日在英屬處女群島 註冊成立的有限公司,為本公司的全資附屬公司
"Hollywood HK"	Game Hollywood Hong Kong Limited, a company established in Hong Kong with limited liability on December 5, 2014, which is an indirect wholly-owned subsidiary of the Company
「Hollywood HK」	Game Hollywood Hong Kong Limited,一家於二零一四年十二月五日在香港成立的有限公 司,為本公司的間接全資附屬公司

釋義(續)

"Hong Kong"	the Hong Kong Special Administrative Region of the PRC
「香港」	中國香港特別行政區
"HTML5"	hypertext markup language 5, the fifth and current major version of the hypertext markup language standard; used for structuring and presenting content on web pages and for creating web applications
「HTML5」	第五版超文字標記語言,超文字標記語言標準的第五版及目前的主要版本;用於在網頁上構建 及呈現內容,及創建網絡應用程序
"IFRS"	International Financial Reporting Standards
「國際財務報告準則」	國際財務報告準則
"IPO"	the initial public offering of the Company, having become unconditional in all aspects on December 15, 2017
「首次公開發售」	在各方面成為無條件後,本公司於二零一七年十二月十五日進行的首次公開發售
"Listing"	the listing of the Shares on the Main Board of the Stock Exchange
「上市」	股份在聯交所主板上市
"Listing Date"	December 15, 2017, on which the Shares were listed and from which dealings therein were permitted to take place on the Stock Exchange
「上市日期」	二零一七年十二月十五日,即股份於聯交所上市及自此獲准於聯交所進行買賣的日期
"Listing Rules"	the Rules Governing the Listing of Securities on the Stock Exchange (as amended from time to time)
「上市規則」	聯交所證券上市規則(經不時修訂)
"MAUs"	monthly active users, which refers to the number of individuals who login to a particular game in the relevant calendar month; average MAUs for a particular period is the average
「每月活躍用戶」	of the active users in each month during that period 每月活躍用戶數,指在有關曆月內登錄特定遊戲的人數;於特定期間的平均每月活躍用戶是指 該期間各月的活躍用戶平均數
"Model Code"	the "Model Code for Securities Transactions by Directors of Listed Issuers" set out in
「標準守則」	Appendix 10 to the Listing Rules 上市規則附錄十所載「上市發行人董事進行證券交易的標準守則」
"Nomination Committee"	the nomination committee of the Board
「提名委員會」	董事會轄下提名委員會

遊萊互動集團有限公司 二零二零年年報 5

釋義(續)

"Now To Play Game" 「Now To Play Game」	Now To Play Game Limited, a company incorporated in Hong Kong with limited liability on March 29, 2011, which is an indirect wholly-owned subsidiary of the Company Now To Play Game Limited,一家於二零一一年三月二十九日在香港註冊成立的有限公司, 為本公司的間接全資附屬公司
"Now To Play Game (Spain)" 「Now To Play Game(西班牙)」	Now To Play Game Sucursal En España, a branch office established in Spain on July 24, 2014 by Now To Play Game, which is an indirect wholly-owned subsidiary of the Company Now To Play Game Sucursal En España,一家由Now To Play Game於二零一四年七月二 十四日在西班牙成立的分支機構,為本公司的間接全資附屬公司
"Post-IPO Share Option Scheme" 「首次公開發售後購股權計劃」	the share option scheme conditionally adopted by the Company on May 27, 2017 本公司於二零一七年五月二十七日有條件採納的購股權計劃
"Prospectus" 「招股章程」	the prospectus of the Company dated December 5, 2017 本公司日期為二零一七年十二月五日的招股章程
"Qianhai Huanjing"	Shenzhen Qianhai Huanjing Network Technology Co., Ltd.* (深圳市前海幻境網絡科技有限 公司), a company established in the PRC on July 12, 2015, one of our game developer partners and a fellow subsidiary of 7Road Holdings, a substantial shareholder of the
「前海幻境」	Company 深圳市前海幻境網絡科技有限公司,一家於二零一五年七月十二日在中國成立的公司,為我們 的遊戲開發商夥伴之一及第七大道控股的同系附屬公司,為本公司的主要股東
"Remuneration Committee" 「薪酬委員會」	the remuneration committee of the Board 董事會轄下薪酬委員會
"RMB" 「人民幣」	Renminbi, the lawful currency of the PRC 中國法定貨幣人民幣
"SDK"	software development kit, typically a set of software development tools that allows the creation of applications for a certain software package, software framework, hardware platform, computer system, video game console, operating system, or similar development platform
「SDK」	軟件開發組合,一般為一組軟件開發工具,以就特定軟件包、軟件框架、硬件平台、電腦系 統、視像遊戲機、操作系統或類似的開發平台建立應用程式
"SFO"	the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong), as
「證券及期貨條例」	amended, supplemented or otherwise modified from time to time 香港法例第571章證券及期貨條例,經不時修訂、補充或以其他方式修改

釋義(續)

"Share(s)" 「股份」	ordinary share(s) of US\$0.001 each in the share capital of the Company 本公司股本中每股面值0.001美元的普通股
"Shareholder(s)" 「股東」	holder(s) of Shares 股份持有人
"Shenzhen 7Road"	Shenzhen 7Road Technology Co., Ltd.* (深圳第七大道科技有限公司), a company established in the PRC on January 22, 2008, one of our game developer partners and a fellow subsidiary of 7Road Holdings, a substantial shareholder of the Company
「深圳第七大道」	深圳第七大道科技有限公司,一家於二零零八年一月二十二日在中國成立的公司,為我們的遊 戲開發商夥伴之一及第七大道控股的同系附屬公司,為本公司的主要股東
"Stock Exchange" 「聯交所」	The Stock Exchange of Hong Kong Limited 香港聯合交易所有限公司
"U.S. Dollars", "USD" or "US\$" 「美元」	United States Dollars, the lawful currency of the United States 美國法定貨幣美元
"VR"	virtual reality, a computer technology that uses certain equipment to generate realistic images, sounds and other sensations that simulate a user's physical presence in a virtual
「虛擬實境」	or imaginary environment 虛擬實境,使用若干設備來模擬使用者像實際處身於虛擬或幻想的環境中,從而產生真實影 像、聲音及其他感覺之電腦技術
"7Road"	7Road Holdings and its fellow subsidiaries
「第七大道」	第七大道控股及其同系附屬公司
"7Road Holdings"	7Road Holdings Limited (第七大道控股有限公司*), a company incorporated in the Cayman
	Islands with limited liability on September 6, 2017, a substantial shareholder of the
「第七大道控股」	Company 第七大道控股有限公司,一家於二零一七年九月六日在開曼群島註冊成立的有限公司,為本公
	司的主要股東
"%"	per cent.

* For identification purposes only * 僅供識別

BOARD OF DIRECTORS

Executive Directors

Mr. LU Yuanfeng (Chairman and Chief Executive Officer) Mr. HUANG Guozhan Mr. HUANG Deqiang

Independent Non-executive Directors

Ms. Imma LING Kit-sum Mr. LI Yi Wen Mr. LU Qibo

COMPANY SECRETARY

Mr. YU Ching Ming (resigned with effect from December 11, 2020) Ms. FOK Po Yi (resigned with effect from February 2, 2021) Mr. WONG Wai Chiu (appointed with effect from February 2, 2021)

AUTHORISED REPRESENTATIVES

Mr. LU Yuanfeng Ms. FOK Po Yi (resigned with effect from February 2, 2021) Mr. WONG Wai Chiu (appointed with effect from February 2, 2021)

AUDIT COMMITTEE

Ms. Imma LING Kit-sum (Chairman) Mr. LI Yi Wen Mr. LU Qibo

REMUNERATION COMMITTEE

Mr. LI Yi Wen (Chairman) Mr. LU Yuanfeng Mr. LU Qibo

NOMINATION COMMITTEE

Mr. LU Yuanfeng (Chairman) Mr. LI Yi Wen Mr. LU Qibo

董事會 執行董事

陸源峰先生(主席兼首席執行官) 黃國湛先生 黃德強先生

獨立非執行董事

凌潔心女士 李毅文先生 盧啟波先生

公司秘書

余精明先生(自二零二零年十二月十一日起辭任) 霍寶兒女士(自二零二一年二月二日起辭任) 黃偉超先生(自二零二一年二月二日起獲委任)

授權代表

陸源峰先生 霍寶兒女士(自二零二一年二月二日起辭任) 黃偉超先生(自二零二一年二月二日起獲委任)

審核委員會

凌潔心女士(主席) 李毅文先生 盧啟波先生

薪酬委員會

李毅文先生(主席) 陸源峰先生 盧啟波先生

提名委員會

陸源峰先生(主席) 李毅文先生 盧啟波先生

CORPORATE PROFILE (Continued)

公司資料(續)

AUDITOR

PricewaterhouseCoopers Certified Public Accountants and Registered PIE Auditor 22/F, Prince's Building Central, Hong Kong

REGISTERED OFFICE

Cricket Square, Hutchins Drive PO Box 2681 Grand Cayman KY1-1111 Cayman Islands

HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN THE PRC

2nd Floor, No. 368 Jiang Nan Da Dao (South) Haizhu District Guangzhou The PRC

PRINCIPAL PLACE OF BUSINESS IN HONG KONG

11/F, Tai Sang Bank Building 784 Nathan Road Kowloon Hong Kong

PRINCIPAL BANKERS

Hongkong and Shanghai Banking Corporation 2/F, 673 Nathan Road Mong Kok, Kowloon Hong Kong

BBVA Compass Bank Plaça de Tetuan, 26 08010, Barcelona Spain

HONG KONG LEGAL ADVISER

P.C. Woo & Co. 12th Floor, Prince's Building Central Hong Kong

核數師

羅兵咸永道會計師事務所 執業會計師及註冊公眾利益實體核數師 香港中環 太子大廈22樓

註冊辦事處

Cricket Square, Hutchins Drive PO Box 2681 Grand Cayman KY1-1111 Cayman Islands

總部及中國主要營業地點

中國 廣州市 海珠區 江南大道南368號二層

香港主要營業地點

香港 九龍 彌敦道784號 大生銀行大廈11樓

主要往來銀行

香港上海滙豐銀行 香港 九龍旺角 彌敦道673號2樓

BBVA Compass Bank Plaça de Tetuan, 26 08010, Barcelona Spain

香港法律顧問

胡百全律師事務所 香港中環 太子大廈12樓

遊萊互動集團有限公司 二零二零年年報 9

公司資料(續)

PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

Conyers Trust Company (Cayman) Limited Cricket Square, Hutchins Drive PO Box 2681 Grand Cayman KY1-1111 Cayman Islands

HONG KONG BRANCH SHARE REGISTRAR

Tricor Investor Services Limited Level 54, Hopewell Centre 183 Queen's Road East Wanchai Hong Kong

STOCK CODE

Stock Code: 2022

WEBSITE

www.gamehollywood.com

主要股份過戶登記處

Conyers Trust Company (Cayman) Limited Cricket Square, Hutchins Drive PO Box 2681 Grand Cayman KY1-1111 Cayman Islands

香港股份過戶登記分處

卓佳證券登記有限公司 香港 灣仔 皇后大道東183號 合和中心54樓

股份代號

股份代號:2022

網站

www.gamehollywood.com

MILESTONES 里程碑

Year 年份	Events 事件
2010 二零一零年	• Our founders became the beneficial shareholders of our first operating entity, Guangzhou SYND 我們的創辦人成為我們首家營運實體廣州歲月年代的實益股東 •
2011 二零一一年	• The first overseas subsidiary was established to develop overseas operation 成立第一間海外附屬公司以發展海外業務 •
2012 二零一二年	• Launched multiplayer web game Wartune with an exclusive license for overseas publishing in English speaking markets 發佈多玩家網頁遊戲Wartune,並持有在英語市場的獨家海外發行權 •
2013 二零一三年	• We were granted the "Facebook's Excellent Game-Advertiser Award" 我們獲頒發「Facebook優秀遊戲廣告主大獎」 • Wartune was granted the "Facebook Staff Favorites Recognition" • Wartune獲頒發「Facebook員工最喜愛遊戲獎」 • Launched Stallion Race on Facebook • 於Facebook發佈Stallion Race • We were granted the "Best Overseas Publisher Award" by 7Road • 我們榮獲深圳第七大道頒發「最佳海外遊戲發行商大獎」 •
2014 二零一四年	• Established Now To Play Game (Spain) as our liaison office in Europe 成立Now To Play Game(西班牙)作為我們在歐洲的聯絡辦事處 •
2015 二零一五年	• Launched several successful casual shooting games, including a special edition featuring sports figures and scenes licensed from Barcelona Football Club 發佈數個成功的休閒射擊遊戲,包括加入巴塞隆拿足球會授權的體壇人物及場景的特別版 •
2016 二零一六年	• Launched our cross-platform Wing SDK 發佈跨平台Wing SDK • • Entered into the VR market with our investment in a VR studio in China 透過投資中國一家虛擬實境製作公司,進軍虛擬實境市場 •
2017 二零一七年	• Launched Lord of Star, a mobile game in cross-platform format on Gameroom 於Gameroom發佈跨平台格式的手機遊戲Lord of Star • • Shares were listed on the Main Board of the Stock Exchange (Stock code: 2022) on December 15, 2017 股份於二零一七年十二月十五日在聯交所主板上市(股份代號:2022) •

MILESTONES (Continued)

里程碑(續)

Year 年份	Events 事件
2018	• French, German, Polish and Turkish versions of Dragon Awaken were launched successively, fully penetrating into the European market
二零一八年	Dragon Awaken的法國、德國、波蘭、土耳其版本陸續上線,全面進軍歐洲市場 • • Robot Tactics , the strategic mobile game featuring anime graphics, was launched on and featured by Google Play in more than 100 countries and regions around the world 創新性推出二次元機甲策略手遊魔法軍團並獲得Google Play在全球超過100個國家和地區的推薦 • • Digital Hollywood was awarded the 6th Jincha Award for 2018 Best Mobile Publisher 遊萊互動榮獲第六屆金茶獎「二零一八最佳移動遊戲發行商」 •
	• Be elected as the vice-president of the Gaming Industry Association Guangzhou Branch 當選廣州市遊戲行業協會副會長單位 • • Dragon Awaken was awarded "2018 Zhuoer Award for Top 10 Most Popular Windows Games" in 2018 Globe Windows Game Conference Dragon Awaken獲GWGC全球開發者聯盟二零一八年度峰會「二零一八年度卓爾獎微軟官方市場十大最受玩家 • 喜愛遊戲」
2019 二零一九年	• A number of HTML5 games launched for global distribution 面向全球發行多款HTML5遊戲 •
2020 二零二零年	• Completed the technical replacement of flash to HTML5 and clients. 完成由flash轉至HTML5及客戶端的技術更替 • • Distribute HTML5-based products in multi-terminal, multi-platform, and multilingual to meet the game needs of global users in different scenarios. 發行多端、多平台及多語言的HTML5產品,以滿足全球用戶在不同情景的遊戲需求 •

FINANCIAL HIGHLIGHTS 財務摘要

Revenue for FY2020 amounted to approximately US\$17.6 million, representing a slight decrease of approximately 1.7% from approximately US\$17.9 million recorded in FY2019.

Gross profit for FY2020 amounted to approximately US\$9.2 million, representing an increase of approximately 9.5% from approximately US\$8.4 million recorded in FY2019.

Loss attributable to owners of the Company for FY2020 amounted to approximately US\$3.6 million, representing a decrease of approximately 37.9% from approximately US\$5.8 million recorded in FY2019.

Non-IFRS adjusted loss attributable to owners of the Company(1) for FY2020 amounted to approximately US\$3.0 million, representing a decrease of approximately 28.6% from approximately US\$4.2 million recorded in FY2019.

二零二零財政年度的收入約為17.6百萬美元,較二 零一九財政年度錄得的約17.9百萬美元輕微下降約 1.7%。

二零二零財政年度的毛利約為9.2百萬美元,較二 零一九財政年度錄得的約8.4百萬美元增加約9.5%。

二零二零財政年度本公司擁有人應佔虧損約為3.6 百萬美元,較二零一九財政年度錄得的約5.8百萬 美元減少約37.9%。

二零二零財政年度本公司擁有人應佔非國際財務報 告準則經調整虧損(1)約為3.0百萬美元,較二零一九 財政年度錄得的約4.2百萬美元減少約28.6%。

(1) To supplement our consolidated financial statements which are presented in accordance with IFRS, we also use non-IFRS adjusted (loss)/profit attributable to owners of the Company as an additional financial measure to evaluate our financial performance by eliminating the impact of items that we do not consider indicative of the performance of our business. Our non-IFRS adjusted (loss)/profit attributable to owners of the Company was derived from our (loss)/ profit attributable to owners of the Company for the year excluding sharebased compensation and listing expenses.

(1) 為補充我們根據國際財務報告準則呈列的合併財務 報表,我們亦使用非國際財務報告準則經調整(虧 損)╱溢利作為額外的財務計量,藉此消除我們認 為對我們的業務表現並無指標意義的項目之影響, 以評估我們的財務業績。我們的本公司擁有人應 佔非國際財務報告準則經調整(虧損)╱溢利乃根 據我們的本公司擁有人應佔(虧損)╱溢利計算得 出,而不包括以股份為基礎付款及上市開支。

FINANCIAL SUMMARY

財務概要

For the year ended December 31, 截至十二月三十一日止年度 2016 2017 2018 2019 2020 二零一六年 二零一七年 二零一八年 二零一九年 二零二零年 US\$'000 US\$'000 US\$'000 US\$'000 US\$'000 千美元 千美元 千美元 千美元 千美元 Revenue 收入 28,446 28,621 24,161 17,919 17,550 Gross profit 毛利 15,535 15,926 13,319 8,397 9,160 (Loss)/Profit before income tax 除所得稅前(虧損)╱溢利 8,552 3,982 2,008 (5,603) (3,439) Income tax expense 所得稅開支 1,613 2,255 1,071 159 200 (Loss)/Profit for the year 年內(虧損)╱溢利 6,940 1,727 937 (5,762) (3,639) (Loss)/Profit attributable to: 以下應佔(虧損)╱溢利: Owners of the Company 本公司擁有人 6,940 1,727 937 (5,762) (3,639) Non-Controlling interests 非控股權益 – – – – – Non-IFRS adjusted (loss)/profit attributable to owners of the Company 本公司擁有人應佔 非國際財務報告準則 經調整(虧損)╱溢利 7,565 6,516 3,570 (4,184) (2,986)

		As at December 31,
			於十二月三十一日
		2016	2017	2018	2019	2020
		二零一六年	二零一七年	二零一八年	二零一九年	二零二零年
		US\$'000	US\$'000	US\$'000	US\$'000	US\$'000
		千美元	千美元	千美元	千美元	千美元
Total assets	總資產	26,524	63,830	63,731	59,336	56,272
Total liabilities	總負債	15,732	13,767	10,454	12,060	11,167
Equity attributable to the	本公司擁有人應佔權益
owners of the company		10,791	50,063	53,277	47,276	45,105

14 Digital Hollywood Interactive Limited Annual Report 2020

CHAIRMAN'S STATEMENT 主席報告

Dear Shareholders,

On behalf of the Board and the management of Digital Hollywood Interactive Limited, I am pleased to present to you the annual report of the Company and its subsidiaries for FY2020.

OVERVIEW OF THE GROUP

We are a leading global online game publisher for China-based game developers, with fast-growing in-house development capabilities for mobile games. Our mission is to bring engaging, differentiated gameplay experience to users across languages, cultures and borders. We offer compelling value proposition to game developers by helping them penetrate the international markets with one-stop solutions, including game redesign, optimization, marketing, distribution, monetization, payment support and other user-related services.

尊敬的各位股東:

本人謹代表遊萊互動集團有限公司董事會及管理 層,欣然向 閣下提呈本公司及其附屬公司二零二 零財政年度的年報。

集團概覽

我們是一家為中國的遊戲開發商提供服務的全球領 先網絡遊戲發行商,擁有快速增長的手機遊戲自主 研發能力。我們的使命是將令人投入的和不一樣的 遊戲體驗帶給跨語言、跨文化及跨國界的用戶。我 們以一站式的解決方案(遊戲重新設計、優化、行 銷、發行、變現、付款支持及其他與使用者有關的 服務)幫助遊戲發行商滲透國際市場,為其帶來極 具吸引力的價值方案。

CHAIRMAN'S STATEMENT (Continued)

主席報告(續)

We began our business as an international web game publisher and grew quickly to become the leading web game publisher. Besides, we strategically expanded our business focuses to develop and launch mobile games by enhancing in-house development capabilities to capture the market opportunity from the fast-growing smartphone users, and our mobile games achieved considerable success in a number of regional markets.

In recent years, the Group has begun to deepen the business of HTML5 multiplayer games and established a self-developed HTML5 game platform. As such, the Group has the technical capability to achieve the data exchange between personal computers and mobile terminals, and embarked to launch a variety of HTML5 games of different types.

RESULTS OF THE GROUP

As of December 31, 2020, we launched and operated 33 games including web games, mobile games and HTML5 games over the world. 13 of such games were self-developed games, accounting for 39.4% of the total number of games launched and operated.

As of December 31, 2020, calculating based on IP addresses we recorded, we had cumulative registered users of approximately 82.2 million located in over 200 countries and regions.

As of December 31, 2020, our average MAUs for online games were more than 0.6 million.

In 2020, we launched 3 HTML5 games and took advantage of our global distribution network in the HTML5 game markets. We will continue deepen our involvement in the HTML5 game distribution markets and cooperate closely with our outstanding business partners in research and development, distribution and promotion in the global HTML5 field, vigorously enlarge our market shares in emerging markets for HTML5 games and further strengthen our leading position in overseas distribution.

本集團以國際網頁遊戲發行商身分開展業務,並迅 速發展成為領先的網頁遊戲發行商。除此之外,我 們還透過增強自主研發能力有策略地擴大業務重點 至開發及發佈手機遊戲,以抓住智慧手機用戶快速 增長帶來的市場機遇,而且我們的手機遊戲也在多 個地區市場取得了不錯的成績。

近年來,集團開始深耕HTML5跨端遊戲業務,建立 了自主研發的HTML5遊戲平台,在技術上實現個人 電腦和手機端的資料互通,並開始嘗試上線多種不 同類型的HTML5遊戲。

集團成績

截至二零二零年十二月三十一日,我們在全球發佈 並運營著33款遊戲,包括網頁遊戲、手機遊戲和 HTML5遊戲。其中,13款是自主研發,佔發佈和 運營的遊戲總數39.4%。

截至二零二零年十二月三十一日,以我們記錄的IP 地址計,我們全球有約8,220萬名位於超過200個國 家和地區的累計註冊用戶。

截至二零二零年十二月三十一日,我們的網絡遊戲 的平均每月活躍用戶達到60萬以上。

於二零二零年,我們推出3款HTML5遊戲,這增強 我們在HTML5遊戲市場中全球發行領域的優勢。本 集團將繼續深化HTML5遊戲發行市場的開拓,與全 球HTML5領域優秀的研發、發行及推廣等商業夥伴 緊密合作,大力增加我們在HTML5遊戲新興市場的 市場份額,進一步鞏固我們在海外發行領域的領先 地位。

主席報告(續)

FINANCIAL PERFORMANCE OF THE GROUP

Revenue of the Group for FY2020 amounted to approximately US\$17.6 million, representing a slight decrease of approximately 1.7% from approximately US\$17.9 million for FY2019.

Despite market volatility, the Group enhanced its marketing promotions and provision of quality services, actively responded to the impact of market changes, and continued to improve the layout of the HTML5 games. The revenue for FY2020 remained stable compared with FY2019.

PROSPECTS AND STRATEGIES OF THE GROUP

Entering 2021, the Group will continue to leverage its advantages in overseas publishing and develop new HTML5-based games and publish on multi-terminal and multi-platform. The Group will continue to optimise game contents, enhance player experience, boost player stickiness and loyalty, and actively optimise our product launch strategy. At the same time, in order to further expand its overseas market share and upscale international competitiveness, the Group will continue to develop a global gaming platform and continue to explore business opportunities in overseas markets. Under this development trend, the Group is expected to further deepen the diversified development of game products.

Since the COVID-19 Outbreak in early 2020, a series of precautionary and control measures have been and continued to be implemented across China and other countries in the world. As at the date of this annual report, the Board was not aware of any material adverse effects on the financial statements as a result of the COVID-19 Outbreak. To shoulder our social responsibilities and offer humanitarian support, the Group promptly launched an assistance scheme in response to the COVID-19 Outbreak. Under this scheme, the Group has mobilised its global subsidiaries to procure medical masks, protective gowns and other medical supplies and has donated the same to front-line medical professionals and institutions in China. The Group has been closely monitoring the development of the COVID-19 Outbreak and will continue to evaluate its impact on the financial position and operating results of the Group from time to time.

集團財務表現

本集團於二零二零財政年度的收入約為17.6百萬美 元,較二零一九財政年度的約17.9百萬美元輕微下 降約1.7%。

儘管市場波動,本集團仍加強其市場推廣及提供優 質服務,積極應對市場變化的影響,並繼續完善 HTML5遊戲的布局。二零二零財政年度的收入與二 零一九財政年度比較維持穩定。

集團展望及策略

進入二零二一年,本集團將繼續發揮海外發行領域 的優勢,開發新HTML5遊戲,進行多端,多平台 的發行。本集團將不斷優化遊戲內容,增強玩家體 驗,提高玩家黏性和忠誠度,並積極優化我們的產 品投放策略。同時,為進一步擴大海外市場份額和 提升國際競爭力,本集團將繼續發展全球化遊戲平 台,並持續深耕海外市場商機。在此發展趨勢下, 本集團有望進一步深化遊戲產品多元化發展。

自COVID-19疫情於二零二零年初爆發以來,相關 防控工作在中國乃至全世界範圍持續進行著。於本 年度報告日期,董事會尚未發現由於COVID-19疫 情而對財務報表造成任何重大不利影響。為了承 擔我們的社會責任並提供人道主義支援,本集團迅 速啟動了一項援助計劃,以應對COVID-19疫情。 根據該計劃,本集團動員其全球子公司採購醫用口 罩、防護服和其他醫療用品,並將其捐贈給中國 一線醫療專業人員和機構。本集團一直密切監察 COVID-19疫情的發展,並將繼續不斷評估其對本 集團財務狀況及經營業績的影響。

CHAIRMAN'S STATEMENT (Continued)

主席報告(續)

APPRECIATION

On behalf of the Board, I would like to take this opportunity to thank the management of the Group and all our staff for their hard work over the past year. I would also like to extend my sincere gratitude to our Shareholders, business partners and stakeholders for their continued support.

致謝

本人謹代表董事會藉此機會,感謝本集團管理層成 員及全體員工過去一年的辛勤付出。本人亦對我們 的股東,合作夥伴及利益相關者的繼續支持致以摯 誠謝意。

LU Yuanfeng

Chairman and Chief Executive Officer Hong Kong, March 30, 2021

陸源峰 主席兼首席執行官 香港,二零二一年三月三十日

PROFILES OF DIRECTORS AND SENIOR MANAGEMENT 董事及高級管理層資料

Below are the brief profiles of the current Directors and senior management of the Group.

DIRECTORS

The Board currently comprises six Directors, of which three are executive Directors and three are independent non-executive Directors. The following table sets forth information regarding the Directors.

以下為本集團現任董事及高級管理層的簡要資料。

董事

董事會現時由六名董事組成,包括三名執行董事及 三名獨立非執行董事。下表載列有關董事的資料。

			Date of Appointment
Name	Age	Position	as Director
姓名	年齡	職位	獲委任為董事的日期
Executive Directors
執行董事
Mr. LU Yuanfeng	41	Chairman, executive Director	November 24, 2014
		and chief executive officer
陸源峰先生	41	主席、執行董事及首席執行官	二零一四年十一月二十四日
Mr. HUANG Guozhan	41	Executive Director and chief	November 2, 2015
		operating officer
黃國湛先生	41	執行董事及首席運營官	二零一五年十一月二日
Mr. HUANG Deqiang	47	Executive Director and chief	June 28, 2017
		technology officer
黃德強先生	47	執行董事及首席技術官	二零一七年六月二十八日
Independent non-executive Directors
獨立非執行董事
Ms. Imma LING Kit-sum	66	Independent non-executive Director	November 24, 2017
凌潔心女士	66	獨立非執行董事	二零一七年十一月二十四日
Mr. LI Yi Wen	50	Independent non-executive Director	November 24, 2017
李毅文先生	50	獨立非執行董事	二零一七年十一月二十四日
Mr. LU Qibo	54	Independent non-executive Director	October 3, 2019
盧啟波先生	54	獨立非執行董事	二零一九年十月三日

董事及高級管理層資料(續)

EXECUTIVE DIRECTORS

Mr. LU Yuanfeng, aged 41, is an executive Director, our chief executive officer and the chairman of the Board. Mr. LU has overall responsibilities for strategic planning and positioning and management of the Group. Mr. LU founded our Group in June 2010 and was appointed as an executive Director on November 24, 2014. He also serves as a director of Angame, Hollywood BVI, Hollywood HK and Guangzhou You Lai.

Mr. LU has over 18 years of experience in the game industry.

Prior to founding our Group, Mr. LU founded Guangzhou Blue Power Digital Technology Company Limited ("Guangzhou Blue Power") which is primarily engaged in software development in May 2001 and served as its chief executive officer from 2004 to January 2011, mainly responsible for development, publication and operation of various games. From June 2001 to February 2004, Mr. LU served in various positions up to the chief editor of the game channel at 21.com operated by 21CN Corporation Limited which is primarily engaged in the provision of information technology services.

Mr. LU graduated from Guangdong University of Technology with a bachelor degree in architectural engineering on June 30, 2001.

Mr. HUANG Guozhan, aged 41, is an executive Director and our chief operating officer. Mr. HUANG oversees the strategic planning and development for the game projects, and he is also responsible for the operation and marketing of the Group. Mr. HUANG joined our Group in June 2010 and was appointed as an executive Director on November 2, 2015. He also serves as a director of Now To Play Game, Beijing You Tang, Guangzhou SYND and Beijing You Lai.

Mr. HUANG has over 13 years of experience in the game industry.

Prior to joining our Group, Mr. HUANG served as a video game operation and planning officer at Guangzhou Blue Power from January 2006 to January 2011. From February 2003 to January 2006, he served as a radio host at Guangzhou Sheng Se Chuan Bo Entertainment and Production Co., Ltd. which is primarily engaged in installation services of stage lighting and audio equipment and cultural communication, mainly responsible for hosting and planning radio programs.

Mr. HUANG graduated from Guangdong University of Technology with a bachelor degree in architectural engineering on June 30, 2002. Mr. HUANG obtained a certificate as a host issued by the State Administration of Radio, Film and Television on February 12, 2005.

執行董事

陸源峰先生,41歲,為執行董事、首席執行官及 董事會主席。陸先生主要負責本集團的策略規劃、 定位和管理。陸先生於二零一零年六月創立本集 團,並於二零一四年十一月二十四日獲委任為執 行董事。彼亦擔任Angame、Hollywood BVI、 Hollywood HK及廣州遊萊的董事。

陸先生於遊戲行業有超過18年經驗。

於創立本集團前,陸先生於二零零一年五月創立 廣州市藍色動力數碼科技有限公司(「廣州藍色動 力」,主要從事軟件開發),並於二零零四年至二零 一一年一月任職其首席執行官,主要負責各種遊戲 的開發、發行及營運。於二零零一年六月至二零零 四年二月,陸先生曾於世紀龍信息網絡有限責任公 司(主要從事提供信息科技服務)營運的21.com擔 任多個不同職位直至晉升為遊戲頻道總編輯。

陸先生於二零零一年六月三十日畢業於廣東工業大 學,獲得建築工程學士學位。

黃國湛先生,41歲,為執行董事及首席運營官。黃 先生監督遊戲項目的策略規劃及發展,亦負責本集 團的營運及營銷。黃先生於二零一零年六月加入本 集團,並於二零一五年十一月二日獲委任為執行董 事。彼亦擔任Now To Play Game、北京遊堂、廣 州歲月年代及北京遊萊的董事。

黃先生於遊戲行業有超過13年經驗。

於加入本集團前,黃先生於二零零六年一月至二零 一一年一月於廣州藍色動力任職影像遊戲營運及策 劃主任。於二零零三年二月至二零零六年一月,彼 於廣州聲色傳播娛樂製作有限公司(主要從事舞枱 燈光及音響設備安裝服務以及文化通訊)任職電台 主持,主要負責主持及策劃電台節目。

黃先生於二零零二年六月三十日畢業於廣東工業大 學,獲得建築工程學士學位。黃先生於二零零五年 二月十二日獲得由國家廣播電影電視總局發出的主 持證書。

PROFILES OF DIRECTORS AND SENIOR MANAGEMENT (Continued) 董事及高級管理層資料(續)

Mr. HUANG Deqiang, aged 47, is an executive Director and our chief technology officer. Mr. HUANG is responsible for developing information technology and operation and maintenance the Company. Mr. HUANG joined our Group in June 2010 and was appointed as an executive Director and the chief technology officer on June 28, 2017.

Mr. HUANG has over 13 years of experience in the game industry.

Prior to joining our Group, Mr. HUANG served as the manager of the technology department of Guangzhou Blue Power from October 2004 to January 2011.

Mr. HUANG graduated from Guangdong Financial and Trade Cadre Academy with a college degree in financial management in July 1997. He was enrolled in Aptech Certified Computer Professional, an IT career program taught by Aptech Beida Jade Bird, from December 2001 to June 2003. Mr. HUANG obtained a national certificate as an intermediate programmer and a national certificate as a software engineer in December 2002 and June 2003, respectively, both issued by the Ministry of Labor and Social Security of the PRC (now known as the Ministry of Human Resources and Social Security of the PRC). In August 2003, he was also certified as a Sun Certified Programmer by Sun Microsystems, Inc.

黃德強先生,47歲,為執行董事及首席技術官。黃 先生負責本公司的信息科技開發及運營和維護。黃 先生於二零一零年六月加入本集團,並於二零一七 年六月二十八日獲委任為執行董事及首席技術官。

黃先生於遊戲行業有超過13年經驗。

於加入本集團前,黃先生於二零零四年十月至二零 一一年一月於廣州藍色動力任職技術部經理。

黃先生於一九九七年七月畢業於廣東省財貿管理幹 部學院,獲得財務管理大專學位。彼於二零零一 年十二月至二零零三年六月修讀Aptech Certified Computer Professional課程(由Aptech Beida Jade Bird教授的信息科技職業規劃項目)。黃先生 分別於二零零二年十二月及二零零三年六月取得中 級程序員國家證書及軟件工程師國家證書,兩者均 由中國勞動和社會保障部(現稱中國人力資源和社 會保障部)發出。於二零零三年八月,彼亦獲太陽 微系統公司認證為昇陽認證程序員。

董事及高級管理層資料(續)

INDEPENDENT NON-EXECUTIVE DIRECTORS

Ms. Imma LING Kit-sum, aged 66, is an independent non-executive Director of our Company appointed on November 24, 2017.

Ms. LING is a Certified Public Accountant and a retired assurance partner of PricewaterhouseCoopers. She is also an independent non-executive director of Wise Ally International Holdings Limited (stock code: 9918), Raymond Industrial Limited (stock code: 0229) and EVA Precision Industrial Holdings Limited (stock code: 0838), all of which are listed on the Main Board of the Stock Exchange.

Ms. LING is a council member of The Education University of Hong Kong and a board member of the Estate Agents Authority. She serves as a member of the Appeal Board Panel (Town Planning) and Hospital Governing Committee of Hospital Authority. Ms. LING is a council member of The Hong Kong Federation of Youth Groups and an executive committee member of the Hong Kong Youth Hostels Association. She previously served as a board member of the Employees Compensation Assistance Fund Board (2006-2012).

Ms. LING is a member of Hong Kong Institute of Certified Public Accountants, Association of Chartered Certified Accountants, Chartered Professional Accountants, Canada, and Chartered Institute of Management Accountants. She is an accredited general mediator.

獨立非執行董事

凌潔心女士,66歲,於二零一七年十一月二十四日 獲委任為本公司的獨立非執行董事。

凌女士為執業會計師,退休前為羅兵咸永道會計師 事務所審計合夥人。現亦為麗年國際控股有限公 司(股份代號:9918)、利民實業有限公司(股份代 號:0229)及億和精密工業控股有限公司(股份代 號:0838)之獨立非執行董事,該等公司均於聯交 所主板上市。

凌女士為香港教育大學校董會、地產代理監管局董 事局、上訴委員團(城市規劃)、醫院管理局醫院管 治委員會、香港青年協會理事會及香港青年旅舍協 會行政委員會之成員。彼曾出任僱員補償援助基金 管理局董事局成員(二零零六至二零一二年)。

凌女士為香港會計師公會、英國特許公認會計師公 會、加拿大特許專業會計師協會及英國特許管理會 計師公會之會員。彼亦為認可綜合調解員。

董事及高級管理層資料(續)

Mr. LI Yi Wen, aged 50, is an independent non-executive Director. Mr. LI was appointed as an independent non-executive Director on November 24, 2017.

Mr. LI has over 13 years of experience in the information technology industry.

Mr. LI has served as a director of Aleo BME, Inc. which is primarily engaged in biotechnology research and development since January 2016. He served as a director of Ningbo Lehui International Engineering Equipment Co., Ltd. which is primarily engaged in development, manufacturing of industrial equipment from March 2016 to November 2018. From January 2011 to October 2013, he also served as a director, chief financial supervisor and secretary of the board at Guiyang Longmaster Information & Technology Co., Ltd., a company listed on the Shenzhen Stock Exchange (stock code: 300288) which is primarily engaged in wireless games and Internet medical service. He served as the general manager of Sina Net Technology (China) Co., Ltd. which is primarily engaged in wireless games and deputy manager of Guangzhou Xunlong Technology Co., Ltd. which is primarily engaged in wireless games from October 2002 to February 2004 and June 2001 to October 2002, respectively.

Mr. LU Qibo, aged 54, is an independent non-executive Director. Mr. LU was appointed as an independent non-executive Director on October 3, 2019.

Mr. LU has over 22 years of experience in media and internet industry.

Mr. LU served as the chief executive officer of Guangdong Senlong Group from May 2018 to December 2018. From 2014 to 2017, Mr. LU worked as the president of KUFM of Guangzhou Kugou Computer Technology Co., Ltd., a subsidiary of Tencent Music Entertainment Group, which is listed on the New York Stock Exchange (stock code: TME). Tencent Music Entertainment Group is a subsidiary of Tencent Holdings Limited, a company listed on the Main Board of the Stock Exchange (stock code: 700). Mr. LU founded Shengse Chuanbo Inc. in 1997 and served as its chief executive officer and an executive director from 1997 to 2010. Mr. LU served as an anchorman in Guangdong People's Radio Station from 1989 to 1995.

Mr. LU completed his junior college study at South China Normal University in July 1989.

李毅文先生,50歲,為本公司的獨立非執行董事。 李先生於二零一七年十一月二十四日獲委任為獨立 非執行董事。

李先生於信息科技行業有超過13年經驗。

李先生自二零一六年一月起擔任Aleo BME, Inc.(主 要從事生物科技研發)的董事。於二零一六年三月 至二零一八年十一月,彼擔任寧波樂惠國際工程裝 備股份有限公司(主要從事工業設備研發及製造)的 董事。彼亦於二零一一年一月至二零一三年十月, 彼於貴陽朗瑪信息技術股份有限公司(一家於深圳 證券交易所上市的公司(股份代號:300288),主要 從事無線遊戲及互聯網醫療服務)擔任董事、財務 總監及董事會秘書。彼於二零零二年十月至二零零 四年二月及於二零零一年六月至二零零二年十月分 別擔任新浪網技術(中國)有限公司(主要從事無線 遊戲)的總經理及廣州市訊龍科技有限公司(主要從 事無線遊戲)的副經理。

盧啟波先生,54歲,為獨立非執行董事。盧啟波 先生於二零一九年十月三日獲委任為獨立非執行董 事。

盧啟波先生於媒體及互聯網行業擁有逾22年經驗。

盧啟波先生於二零一八年五月至二零一八年十二月 擔任廣東森龍集團的行政總裁。於二零一四年至二 零一七年,盧啟波先生任職於騰訊音樂娛樂集團 (一家於紐約證券交易所上市的公司,股份代號: TME)附屬公司廣州酷狗計算機科技有限公司旗下 的酷FM的總裁。騰訊音樂娛樂集團為騰訊控股有 限公司(一家於香港聯交所主板上市的公司,股份 代號:700)的附屬公司。盧啟波先生於一九九七年 創立聲色傳播公司,並自一九九七年至二零一零年 擔任其行政總裁及執行董事。盧啟波先生於一九八 九年至一九九五年擔任廣東人民廣播電臺主播。

盧啟波先生於一九八九年七月完成華南師範大學的 專科學業。

董事及高級管理層資料(續)

SENIOR MANAGEMENT

Mr. LU Yuanfeng, see the above "Executive Directors" for details.

Mr. HUANG Guozhan, see the above "Executive Directors" for details.

Mr. HUANG Deqiang, see the above "Executive Directors" for details.

Mr. LIU Jiahua, aged 40, joined our Group as our chief financial officer on March 21, 2014. He is primarily responsible for the investment, the legal affairs and the overall management of the finance of our Group. He has served as the chief financial officer since March 2014.

Mr. LIU has over 17 years of experience in the field of financial management.

Mr. LIU served as the finance controller at Moonbasa E-commerce Group which is primarily engaged in the online sales of women apparels from September 2010 to March 2014. From April 2009 to August 2010, he served as a financial director at China Nepstar Chain Drugstore Ltd. which is primarily engaged in pharmaceutical retail, a company previously listed on the New York Stock Exchange (stock code: NPD). From November 2004 to February 2009, Mr. LIU served in PricewaterhouseCoopers Zhong Tian LLP.

Mr. LIU graduated from Sun Yat-sen University with a bachelor degree in international finance on June 24, 2003.

高級管理層

陸源峰先生,詳情見上文「執行董事」。 黃國湛先生,詳情見上文「執行董事」。 黃德強先生,詳情見上文「執行董事」。

劉嘉華先生,40歲,於二零一四年三月二十一日加 入本集團擔任首席財務官。彼主要負責本集團的投 資、法律事務及整體財務管理。彼亦自二零一四年 三月起擔任首席財務官。

劉先生於財務管理領域有逾17年經驗。

劉先生於二零一零年九月至二零一四年三月於夢芭 莎電子商務集團(主要從事網上銷售女性服裝)擔任 財務總監。於二零零九年四月至二零一零年八月, 彼於中國海王星辰連鎖藥店有限公司(一家曾於紐 約證券交易所上市的公司(股份代號:NPD),主要 從事藥品零售)擔任財務總監。於二零零四年十一 月至二零零九年二月,劉先生於普華永道中天會計 師事務所任職。

劉先生於二零零三年六月二十四日畢業於中山大 學,獲得國際金融學士學位。

董事及高級管理層資料(續)

Mr. SHI Lijia, aged 37, joined our Group as a vice president on August 17, 2015. He is primarily responsible for the overall management of the research and development of the Group.

Mr. SHI has over 10 years of experience in the game industry.

Prior to joining our Group, Mr. SHI served as the game producer in certain medium and large companies which are researching and developing game products from March 2010 to April 2015, mainly responsible for game development and general administration.

Mr. SHI graduated from Lanzhou University with a bachelor degree in information and computing sciences in 2007.

Mr. CHEN Yangzhao, aged 43, was appointed as our vice president on July 1, 2015. He is primarily responsible for the management of Platform Research and Development System and Operations Platform System of our Group.

Mr. CHEN has over 18 years of experience in technology and software engineering of game industry.

Prior to joining our Group, Mr. CHEN served as the technology manager of Guangzhou Tianya Internet Technology Co., Ltd. which is primarily engaged in software development from January 2009 to March 2010. He served from a platform development team member to a senior developer at Beijing Bokee Net Information Technology Co., Ltd. which is primarily engaged in technology service from October 2005 to November 2008. He served as the senior software engineer at Guangzhou Ruixun Computer Technology Co., Ltd. which is primarily engaged in development and manufacture of computers' hardware and software from September 2002. He briefly served as a software engineer at Asiainfo Technologies (China) Inc., a Nasdaq-listed company (stock code: ASIA) which is primarily engaged in development of network system from April 2002. Mr. CHEN started his career in July 2001 with Guangdong Xiantong Digital Technology Co., Ltd. as a software engineer.

Mr. CHEN graduated from South China University of Technology with a bachelor degree in computer science and technology on July 1, 2001.

石立家先生,37歲,於二零一五年八月十七日加入 本集團擔任副總裁。彼主要負責本集團的整體研發 管理。

石先生在遊戲行業擁有逾10年經驗。

於加入本集團前,石先生於二零一零年三月至二零 一五年四月擔任從事遊戲產品研發的若干中至大型 公司的遊戲製作人。石先生主要負責遊戲開發及一 般行政管理。

石先生於二零零七年畢業於蘭州大學,獲信息與計 算科學學士學位。

陳陽照先生,43歲,於二零一五年七月一日獲委任 為副總裁。彼主要負責本集團的平台研發系統及運 營平台系統的管理。

陳先生於遊戲技術及軟件工程行業有逾18年經驗。

加入本集團前,陳先生於二零零九年一月至二零一 零年三月擔任廣州天涯網絡科技有限公司(主要從 事軟件開發)的技術經理。彼於二零零五年十月至 二零零八年十一月擔任北京博客網信息技術有限公 司(主要從事技術服務)一名高級開發師的平台開發 團隊成員。彼自二零零二年九月起擔任廣州銳訊計 算機科技有限公司(主要從事開發及生產電腦硬體 及軟件)的高級軟件工程師。彼自二零零二年四月 起曾短暫擔任亞信科技(中國)有限公司(一家納斯 達克上市公司(股份代號:ASIA),主要從事開發網 絡系統)的軟件工程師。陳先生於二零零一年七月 開始其職業生涯,在廣州仙童數碼科技有限公司擔 任軟件工程師。

陳先生於二零零一年七月一日畢業於華南理工大 學,獲得計算機科學與技術學士學位。

遊萊互動集團有限公司 二零二零年年報 25

MANAGEMENT DISCUSSION AND ANALYSIS

管理層討論及分析

BUSINESS REVIEW

2020 was a challenging year for many businesses around the world. We weathered these obstacles and maintained steady development across our business. Revenue of the Group for FY2020 amounted to approximately US\$17.6 million, representing a slight decrease of approximately 1.7% from approximately US\$17.9 million for FY2019. Loss attributable to owners of the Company for FY2020 amounted to approximately US\$3.6 million, representing a decrease of approximately 37.9% from approximately US\$5.8 million for FY2019. Non-IFRS adjusted loss attributable to owners of the Company for FY2020 amounted to approximately US\$3.0 million, representing a decrease of approximately 28.6% from approximately US\$4.2 million for FY2019. In spite of the less favourable economic environment, our key operating indicator for FY2020 was basically satisfactory as compared with the corresponding period in 2019. Our ARPPU amounted to US\$36.0 for FY2020, as compared with US\$36.0 for FY2019.

In 2020, the COVID-19 Outbreak posed challenges across countries and industries. However, on the other hand, the quarantine measures during the epidemic resulted in the rise of "Stay-at-Home Economy", which contributed to new users traffic to the Internet industry. Leveraging on such social circumstances, with its years of experience accumulated in the mobile and online game industry, the Group is committed to continuously providing all of its users with the best quality products and services.

In addition to the COVID-19 Outbreak, since January 2021, all popular browsers no longer support the use of flash player. Faced with the challenge of the discontinuing flash player, the Group strategically converted flash based games into HTML5 games as early as the beginning of 2020, and at the same time, using its excellent technical capabilities, developed clients for multiple game products. With many years of rich experience in game operation and excellent technical prowess, the Group has successfully completed the technical replacement of flash player to HTML5 and clients.

業務回顧

二零二零年對於全球眾多企業極具挑戰。我們克服 重重障礙並維持各項業務的穩定發展。本集團於二 零二零財政年度的收入約為17.6百萬美元,較二零 一九財政年度的約17.9百萬美元輕微減少約1.7%。 二零二零財政年度,本公司擁有人應佔虧損約為 3.6百萬美元,較二零一九財政年度的約5.8百萬美 元減少約37.9%。二零二零財政年度,本公司擁有 人應佔非國際財務報告準則經調整虧損約為3.0百 萬美元,較二零一九財政年度的約4.2百萬美元減 少約28.6%。儘管經濟環境不甚樂觀,與二零一九 年同期比較,我們二零二零財政年度的主要運營指 標基本上理想。於二零二零財政年度我們的付費用 戶月均收入為36.0美元,而二零一九財政年度亦為 36.0美元。

二零二零年,COVID-19疫情在全球爆發並持續蔓 延,給各行各業都帶來不同程度的衝擊。但另一方 面,受疫情期間隔離措施的影響,「宅經濟」的興起 也為互聯網行業貢獻了新的用戶流量。基於該社會 環境,本集團身處移動互聯網遊戲行業,憑藉着多 年的豐富經驗,繼續以最優質的產品與服務陪伴全 體用戶。

除爆發COVID-19疫情外,自二零二一年一月起, 所有主要瀏覽器不再支持flash player的使用。為應 對flash player停用的挑戰,本集團早於二零二零年 初已策略性地將flash遊戲轉化為HTML5遊戲,同 時利用本集團優秀的技術能力,開發了多款遊戲產 品的客戶端。憑藉着多年豐富的遊戲運營經驗和優 秀的技術實力,本集團順利實現由flash player轉至 HTML5及客戶端的技術更替。

管理層討論及分析(續)

INDUSTRY OUTLOOK AND GROUP STRATEGIES

Please refer to the section headed "Chairman's Statement – Prospects and strategies of the Group" in this annual report for the industry outlook and Group strategies.

PRINCIPAL RISKS AND UNCERTAINTIES

Our operations and prospects and future financial results involve, and could be materially and adversely affected by, certain risks. The following highlights the principal risks exposed to the Group and is not meant to be exhaustive:

• A small number of games have contributed a substantial majority of our revenue.
• We work with game distribution platforms to distribute our games, and our business may be materially and adversely affected if they breach their contractual obligations, or if we fail to maintain relationships with a sufficient number of platforms, or if the platforms lose popularity among Internet users.
• Our growth prospects will suffer if we are unable to successfully implement our game development strategies on mobile and HTML5 games.
• Our businesses rely on our data analysis capabilities, any impact on which would materially and adversely affect our ability to formulate appropriate business strategies.
• Our steady growth during the past years may not be indicative of our future growth, and our limited operating history makes it difficult to evaluate our growth prospects and future financial results.

行業前景及集團策略

有關行業前景及集團策略,請參閱本年報「主席報 告-集團展望及策略」一節。

主要風險及不明朗因素

我們的營運及前景以及未來財務業績涉及若干風 險,該等風險或會對我們的營運及前景以及未來財 務業績造成重大不利影響,以下載列本集團面臨的 主要風險摘要(並非全面):

• 我們絕大部份收入是由少數遊戲貢獻。
• 我們與遊戲發行渠道合作發行遊戲,倘彼等違 反其合約責任,或倘我們未能與足夠數目的平 台維持關係,或倘有關平台在互聯網用戶中失 去人氣,則我們的業務可能受到重大不利影 響。
• 倘我們無法順利實施於手機遊戲方面的遊戲開 發策略,我們的增長前景將受到影響。
• 我們的業務依賴數據分析能力,若這方面受到 任何影響均會對我們制定合適業務策略的能力 造成重大不利影響。
• 我們於過去多年的穩定增長不能作為未來增長 的指標,我們的經營歷史有限,因而難以評估 我們的增長前景及未來財務業績。

管理層討論及分析(續)

• If we fail to successfully execute our growth strategies, including launching games of new genres, themes or operating formats and investing in new technologies, our future results of operations and growth prospects may be materially and adversely affected.
• Protecting user and customer data is the top priority, and we are fully aware that any loss or leakage of such information could have a significant negative impact on the affected users and customers and our reputation. This could in turn lead to potential legal actions against us.

• The Internet and technology industry is still evolving yet getting more mature. Regulatory authorities in different jurisdictions have been, in an attempt to keep up with such evolution, heightening respective regulatory requirements. As we continuously expand our businesses in the PRC and overseas to more countries and jurisdictions, it is required to keep up and comply with the relevant applicable laws and regulations in different countries and jurisdictions, including but not limited to laws relating to data protection, Internet information and cyber security, IP, gaming, Internet finance, etc. In addition, development of various industries around the world may be impacted by regulatory uncertainties.

• 倘我們未能成功執行增長策略,包括發佈新種 類、主題或操作格式的遊戲及投資於新技術, 我們的未來經營業績及增長前景或會受到重大 不利影響。

• 我們非常重視用戶及客戶數據的保護,亦意識 到若這些敏感資訊丟失或被竊取,將對用戶及 客戶造成極大影響,同時會嚴重影響我們的聲 譽,甚至引起法律訴訟。
• 互聯網及科技行業雖然是新興行業,但隨著行 業的不斷發展,各國監管機構對互聯網及科技 行業的監管及法規也日趨嚴謹。本公司的業務 在國內及海外不斷拓展,業務延伸到更多的國 家和地區,需符合及遵守各國家和地區對監管 資訊保護、互聯網資訊安全、IP、遊戲及互聯 網金融等相關的法律及法規要求。監管政策發 展方向的不確定性亦可能會對各地區不同行業 的發展造成影響。

管理層討論及分析(續)

To mitigate the identified risks, the Company improves its management capability and adaptability and further ensures the realisation of the business objectives and sustainable growth. We aim at implementing the following strategies to further capture players and enhance profitability of our games:

• Our growth also depends on our ability to continuously launch new games that attract and retain a significant number of users, in order to grow our revenue and maintain our competitive position.
• We strengthen our relationships with major international game publishing and distribution partners to expand the reach of our games to new countries and regions.
• We further strengthen and expand our mobile and HTML5 games portfolio by developing additional high-quality mobile and HTML5 games, and offer more specific value-adding features to enrich users' game experience on devices.
• Our team members can utilise our various data analysis engines to collect and store all user behavior data in a timely manner.
• We manage our expanding business, continue to offer new games and enhance our existing games, maintain and expand our collaboration with game distribution platforms, anticipate and adapt to evolving user interests, industry trends and market conditions.
• We have expanded our product offerings to attract a demographically diverse user community and will continue to identify new genres with high monetization potential from game developers, meanwhile we actively enhance our in-house research and development capabilities.

本公司通過改善其管理能力及適應能力以降低已識 別風險及進一步確保實現業務目標及可持續增長。 我們旨在實施以下策略以進一步吸引玩家並增加我 們遊戲帶來的收益:

• 我們的增長亦取決於我們能否不斷發佈可吸引 及留住大量用戶的新遊戲,以增加收入及保持 具競爭力的地位。
• 鞏固與國際主要遊戲發行及分銷合作方的關係 以將我們的遊戲擴展至新的國家及地區。
• 透過開發新增優質手機及HTML5遊戲進一步 增強及擴張我們的手機及HTML5遊戲組合, 提供更多特色增值功能以豐富有關設備的用戶 的遊戲體驗。
• 我們各團隊可以利用各類數據分析引擎及時地 收集並儲存所有用戶行為數據。
• 管理我們不斷拓展的業務,繼續提供新遊戲及 增強先有遊戲,保持及擴大我們與遊戲開發渠 道的合作,預測及適應不斷演變的用戶興趣、 行業趨勢及市場狀況。
• 我們已擴大產品種類以吸引多元結構的用戶社 群,並繼續從遊戲開發商物色高變現潛力的新 種類,自身亦積極提升自主研發能力。

管理層討論及分析(續)

• We are obliged to protect user and customer data, and as such, we strive to provide the highest level of protection on such information and data. In this regard, we have formulated and kept optimising control measures to protect such information and data. Information security is ensured through effective management systems, encryption, access restrictions and controls, and continuously improving the business continuity and disaster recovery management. In addition, we arrange regular reviews by independent specialists over our data protection practices; and provides training for staff to enhance their awareness of information security.
• We have invested enormous compliance resources and efforts to ensure compliance with applicable laws and regulatory requirements. This includes setting up special department and specialist team, as well as engaging external professional consultants to work closely with management to track on changes in relevant laws and regulations; and take appropriate responding actions or measures to ensure us is in compliance with such applicable laws and regulations in the PRC and overseas. In addition, we also engage in active dialogue with relevant regulatory authorities, and exchange view and information with relevant regulatory authorities on the market trends and the development of Internet and technology industry.
• 我們有保護用戶敏感資訊的責任,因此一直以 來將用戶及客戶數據列為我們最高級別的敏感 資訊。在此方面,我們已建立及持續完善管控 措施,以保護資訊及數據。為確保資訊安全, 我們建立有效的信息管理系統,使用加密技 術、控制資料訪問權限及進行信息安全管控, 並持續加強災備體系的建設。此外,我們已設 置獨立的專業團隊,定期對敏感資訊及數據的 保護及管理進行檢查,也會定期開展資訊安全 意識培訓和宣導,提高僱員對保護敏感資訊的 意識。
• 我們已投放大量合規資源和努力,以確保遵守 適用法律法規的規定。其中包括設立多個專責 部門和專業團隊,以及委聘外間專業顧問,與 管理層緊密合作以跟進相關法律法規的變化; 並採取適當應對行動或措施以確保我們遵守中 國及海外的適用法律法規。此外,我們亦與相 關監管部門積極對話,並就市場趨勢及互聯網 及科技行業的發展與他們交換意見及信息。

30 Digital Hollywood Interactive Limited Annual Report 2020

管理層討論及分析(續)

FINANCIAL REVIEW

Overview

For FY2020, loss attributable to owners of the Company amounted to approximately US\$3.6 million, representing a decrease of approximately US\$2.2 million or 37.9% from approximately US\$5.8 million for FY2019. Non-IFRS adjusted loss attributable to owners of the Company amounted to approximately US\$3.0 million for FY2020, representing a decrease of approximately US\$1.2 million or 28.6% from approximately US\$4.2 million for FY2019.

Revenue

For FY2020, revenue of the Group amounted to approximately US\$17.6 million, representing a slight decrease of approximately US\$0.3 million or 1.7% from approximately US\$17.9 million for FY2019. Despite market volatility, the Group enhanced its marketing promotions and provision of quality services, actively responded to the impact of market changes, and continued to improve the layout of the HTML5 games. The revenue for FY2020 remained stable compared with FY2019.

Cost of Revenue and Gross Profit Margin

For FY2020, cost of revenue of the Group amounted to approximately US\$8.4 million, representing a decrease of approximately US\$1.1 million or 11.6% as compared with approximately US\$9.5 million for FY2019. The gross profit margin of the Group increased from 46.9% for FY2019 to 52.3% for FY2020.

Other Losses/Gains, Net

For FY2020, other losses of the Group amounted to approximately US\$0.03 million, as compared with other gains of the Group which amounted to approximately US\$0.3 million for FY2019. The other losses of the Group for FY2020 primarily consisted of the net exchange loss, partly offset by other gains from reversal of contract liabilities related to the ceased operation of certain games.

財務回顧

概覽

於二零二零財政年度,本公司擁有人應佔虧損約為 3.6百萬美元,較二零一九財政年度錄得的約5.8百 萬美元減少約2.2百萬或37.9%。二零二零財政年 度,本公司擁有人應佔非國際財務報告準則經調整 虧損約為3.0百萬美元,較二零一九財政年度錄得 的約4.2百萬美元減少約1.2百萬美元或28.6%。

收入

於二零二零財政年度,本集團收入約為17.6百萬美 元,較二零一九財政年度的收入約17.9百萬美元輕 微減少約0.3百萬美元或1.7%。在市場波動的情況 下,本集團強化推廣營銷及提供優質服務,積極應 對市場變化帶來的衝擊,並持續完善HTML5遊戲的 佈局。二零二零財政年度的收入與二零一九財政年 度相比保持相對平穩。

成本及毛利率

於二零二零財政年度,本集團的成本約為8.4百萬 美元,較二零一九財政年度的約9.5百萬美元減少 約1.1百萬美元或11.6%。本集團的毛利率則由二零 一九財政年度的46.9%上升至二零二零財政年度的 52.3%。

其他虧損╱收益淨額

於二零二零財政年度,本集團的其他虧損淨額約為 0.03百萬美元,而二零一九財政年度的其他收益淨 額約0.3百萬美元。二零二零財政年度錄得的其他 虧損主要包括匯兌虧損,部分被由於若干遊戲停運 而轉銷合約負債的其他收益所抵銷。

管理層討論及分析(續)

Selling and Marketing Expenses

For FY2020, selling and marketing expenses of the Group amounted to approximately US\$5.4 million, representing an increase of approximately US\$1.3 million or 31.7% from approximately US\$4.1 million for FY2019, primarily due to the increase in advertising and promotion expenses.

Administrative Expenses

For FY2020, administrative expenses of the Group amounted to approximately US\$4.9 million, representing a decrease of approximately US\$0.8 million or 14.0% from approximately US\$5.7 million for FY2019. The decrease was mainly due to (i) decrease in staff cost which amounted to approximately US\$0.6 million; and (ii) impairment loss on license fees which amounted to approximately US\$1.2 million for the unilateral termination by Qianhai Huanjing of a series of intellectual property licensing agreements (the "IP Licensing Agreements"), as compared with impairment loss mainly due to write-down of prepayment and intangible assets for certain games of the Group which amounted to approximately US\$1.5 million for FY2019.

Research and Development Expenses

For FY2020, research and development expenses of the Group amounted to approximately US\$1.9 million, representing a decrease of approximately US\$0.5 million or 20.8% compared with approximately US\$2.4 million for FY2019. The decrease in research and development expenses in FY2020 was mainly due to decrease in staff cost.

Net Impairment Losses on Financial Assets

For FY2020, net impairment losses on financial assets of the Group amounted to approximately US\$0.5 million, representing a decrease of approximately US\$0.9 million or 64.3% compared with approximately US\$1.4 million for FY2019. The impairment losses on financial assets were attributable to impairment losses on the balances due from the Group's customers.

銷售及營銷開支

於二零二零財政年度,本集團的銷售及營銷開支約 為5.4百萬美元,較二零一九財政年度的約4.1百萬 美元增加約1.3百萬美元或31.7%,主要由於廣告及 推廣費用增加。

行政開支

於二零二零財政年度,本集團的行政開支約為4.9 百萬美元,較二零一九財政年度約5.7百萬美元減 少約0.8百萬美元或14.0%。行政開支減少主要是由 於(i)員工成本下降約0.6百萬美元;及(ii)前海幻境 單方提出解除一系列知識產權授權協議(「知識產權 授權協議」),對已支付的遊戲特許費錄得減值虧損 約1.2百萬美元,而二零一九財政年度所錄得的則 主要由於本集團若干遊戲的預付及無形資產撇清導 致的減值虧損約1.5百萬美元。

研發開支

於二零二零財政年度,本集團的研發開支約為1.9 百萬美元,較二零一九財政年度的約2.4百萬美元 減少約0.5百萬美元或20.8%。二零二零財政年度的 研發開支減少,主要是由於僱員成本減少所致。

金融資產減值虧損淨額

於二零二零財政年度,本集團的金融資產減值虧損 淨額約為0.5百萬美元,較二零一九財政的約1.4百 萬美元減少約0.9百萬美元或64.3%。金融資產減值 虧損淨額為應收本集團客戶款項結餘所產生之減值 虧損。

管理層討論及分析(續)

Impairment of Investment in an Associate

For FY2020, impairment of investment in an associate of the Group was nil (FY2019: approximately US\$0.7 million).

Income Tax Expense

For FY2020, income tax expense of the Group amounted to approximately US\$0.2 million, as compared to approximately US\$0.2 million for FY2019.

Loss Attributable to Owners of the Company

As a result of the above, loss attributable to owners of the Company decreased by approximately US\$2.2 million or 37.9% from approximately US\$5.8 million for FY2019 to approximately US\$3.6 million for FY2020.

Non-IFRS Adjusted Loss Attributable to Owners of the Company

To supplement this annual report which is presented in accordance with the IFRS, we also use unaudited non-IFRS adjusted loss attributable to owners of the Company as an additional financial measure to evaluate our financial performance by eliminating the impact of items that we do not consider indicative of the performance of our business.

For FY2020, non-IFRS adjusted loss attributable to owners of the Company amounted to approximately US\$3.0 million, representing a decrease of approximately US\$1.2 million or 28.6% from approximately US\$4.2 million in FY2019. Our non-IFRS adjusted loss attributable to owners of the Company in FY2020 and FY2019 was calculated according to the loss attributable to the owners of the Company for the respective years, excluding share-based compensation of approximately US\$0.7 million in FY2020 and approximately US\$1.6 million in FY2019.

於聯營公司的投資減值

於二零二零財政年度,本集團並無於聯營公司的投 資減值,而於二零一九財政年度有關減值約為0.7 百萬美元。

所得稅開支

於二零二零財政年度,本集團所得稅開支約為0.2 百萬美元,而二零一九財政年度錄得約0.2百萬美 元。

本公司擁有人應佔虧損

由於以上所述,本公司擁有人應佔虧損由二零一九 財政年度錄得的約5.8百萬美元,減少約2.2百萬美 元或37.9%,至二零二零財政年度的約3.6百萬美 元。

本公司擁有人應佔非國際財務報告準 則經調整虧損

為補充此份根據國際財務報告準則呈列的年報,我 們亦使用本公司擁有人應佔未經審核非國際財務報 告準則經調整虧損作為額外的財務計量,藉此消除 我們認為對我們的業務表現並無指標意義的項目之 影響,以評估我們的財務業績。

於二零二零財政年度,本公司擁有人應佔非國際財 務報告準則經調整虧損約為3.0百萬美元,較二零 一九財政年度錄得的約4.2百萬美元減少約1.2百萬 美元或28.6%。我們於二零二零財政年度及二零一 九財政年度的本公司擁有人應佔非國際財務報告準 則經調整虧損乃根據有關年度本公司擁有人應佔虧 損計算得出,而不包括二零二零財政年度的以股份 為基礎的薪酬約0.7百萬美元及二零一九財政年度 的約1.6百萬美元。

遊萊互動集團有限公司 二零二零年年報 33

管理層討論及分析(續)

Liquidity, Treasury Policy and Source of Funding and Borrowing

As at December 31, 2020, the Group's total bank balances, cash and short-term deposits amounted to approximately US\$31.9 million, representing an increase of approximately 26.1% as compared with approximately US\$25.3 million as at December 31, 2019. The increase in total bank balances, cash and short-term deposits during the year was primarily resulted from the increase in the net cash flow generated from operating activities.

As at December 31, 2020, current assets of the Group amounted to approximately US\$47.6 million, including bank balances, cash and short-term deposits of approximately US\$31.9 million and other current assets of approximately US\$15.7 million. Current liabilities of the Group amounted to approximately US\$9.5 million, including trade payables and contract liabilities of approximately US\$6.3 million and other current liabilities of approximately US\$3.2 million. As at December 31, 2020, the current ratio (the current assets divided by current liabilities) of the Group was 5.0, as compared with 4.7 as at December 31, 2019. The Group adopts a prudent treasury management policy to ensure that our Group maintains a healthy financial position.

Gearing ratio is calculated on the basis of total borrowings (net of cash and cash equivalents) over the Group's total equity. The Group does not have any bank borrowings and other debt financing obligations (excluding lease liabilities) as at December 31, 2020 and the gearing ratio is nil (as at December 31, 2019: nil). The Group intends to finance the expansion, investments and business operations with internal resources.

流動資金、財務政策及融資和借款來 源

截至二零二零年十二月三十一日,本集團的銀行結 餘、現金及短期存款總額約為31.9百萬美元,較二 零一九年十二月三十一日的約25.3百萬美元增加 約26.1%。年內銀行結餘、現金及短期存款總額增 加,主要由於經營活動所得的現金流量淨額增加所 致。

截至二零二零年十二月三十一日,本集團的流動資 產約為47.6百萬美元,包括銀行結餘、現金及短期 存款約31.9百萬美元以及其他流動資產約為15.7百 萬美元。本集團的流動負債約為9.5百萬美元,包 括貿易應付款項及合約負債約為6.3百萬美元以及 其他流動負債約為3.2百萬美元。截至二零二零年 十二月三十一日,本集團的流動比率(按流動資產 除以流動負債計算)為5.0,而於二零一九年十二月 三十一日則為4.7。本集團採取審慎的財務政策確 保本集團保持穩健之財務狀況。

資產負債比率乃根據借款總額(經扣除現金及現金 等價物)除以本集團的權益總額計算。本集團於二 零二零年十二月三十一日並無任何銀行借款及其他 債務融資責任(不包括租賃負債),因此資產負債比 率為零(於二零一九年十二月三十一日:零)。本集 團有意以內部資源為擴展、投資及業務營運提供所 需資金。

管理層討論及分析(續)

Significant Investments

The Group did not have any significant investments during FY2020.

Material Acquisitions

The Group did not have any material acquisitions of subsidiaries, associates and joint ventures during FY2020.

Future Plans for Material Investments or Capital Assets

Save as disclosed in the section headed "Future plans and use of proceeds" in the Prospectus, the Group currently has no other plan for material investments and capital assets.

Material Disposals

The Group did not have any material disposals of subsidiaries, associates and joint ventures during FY2020.

Pledge of Assets

As at December 31, 2020, none of the Group's assets was pledged (as at December 31, 2019: nil).

Contingent Liabilities

The Group had no material contingent liabilities as at December 31, 2020 (as at December 31, 2019: nil).

Foreign Exchange Exposure

As at December 31, 2020, the Group mainly operated in the global market and majority of its transactions were settled in USD, being the functional currency of the group entities to which the transactions relate. We currently do not hedge transactions undertaken in foreign currencies but manage our exposure through constant monitoring to limit as much as possible the amount of our foreign currencies exposures. Foreign exchange risk arises when future commercial transactions and recognised assets and liabilities are denominated in a currency that is not the entity's functional currency. The Group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to RMB, EURO and Hong Kong dollar. As at December 31, 2020, the Group did not have significant foreign currency exposure from its operations.

重大投資

本集團於二零二零財政年度並無任何重大投資。

重大收購

本集團於二零二零財政年度並無任何有關附屬公 司、聯營公司及合營企業的重大收購。

重大投資或資本資產的未來計劃

除招股章程內「未來計劃及所得款項用途」一節所披 露者外,本集團目前並無有關重大投資及資本資產 的未來計劃。

重大出售

本集團於二零二零財政年度並無任何有關附屬公 司、聯營公司及合營企業的重大出售。

資產抵押

於二零二零年十二月三十一日,本集團並無任何資 產作抵押(於二零一九年十二月三十一日:無)。

或然負債

於二零二零年十二月三十一日,本集團並無重大或 然負債(於二零一九年十二月三十一日:無)。

外匯風險

截至二零二零年十二月三十一日,本集團主要在全 球市場營運,而其大部分交易均以美元結算,而美 元為交易相關的集團實體的功能貨幣。我們現時並 無就以外幣進行的交易進行對沖,而是透過定期監 察管理風險,以盡可能限制外幣風險的金額。當未 來商業交易及經確認資產及負債的計值貨幣並非該 實體的功能貨幣,則會出現外匯風險。本集團在國 際市場經營業務,須承受因各種貨幣風險引致的外 匯風險。主要的貨幣包括:人民幣,歐元及港元。 於二零二零年十二月三十一日,本集團並無因其營 運而面對重大外幣風險。

管理層討論及分析(續)

The Impact of The COVID-19 Outbreak

Since the COVID-19 Outbreak the Group has acted swiftly and adopted a number of measures. All departments of the Group were required to fully comply with the epidemic-prevention and control requirement, and resume operation in an orderly manner. In this way, the Group has ensured good working environment for employees and has maintained sound work order. The Group has assessed and preliminarily concluded that there was no significant impact on the financial position of the Group subsequent to FY2020 and up to the date of this report. The Group will pay continuous attention to the situation of the COVID-19 Outbreak and react actively to its impact on the operation and financial position of the Group.

Events Occurred Since The End of FY2020

The Group did not have any significant events after December 31, 2020 and up to the date of this annual report.

COVID-19疫情爆發的影響

自COVID-19疫情爆發以來,本集團迅速行動,採 取多項措施,要求本集團內所有部門確保在嚴格 落實疫情防控要求的前提下,推動經營有序運轉, 為員工的良好辦公環境和工作秩序提供了強力的保 障。本集團已評估並初步得出結論,本集團於報告 期後直至本年度報告日期的財務狀況不會受到重大 影響。本集團將繼續關注COVID-19疫情的情況, 並積極應對其對本集團營運及財務狀況造成的影 響。

自二零二零財政年度結束後發生的事 件

本集團自二零二零年十二月三十一日後直至本年度 報告日期概無發生任何重大事項。

CORPORATE GOVERNANCE REPORT 企業管治報告

The Company is committed to achieving and maintaining high standards of corporate governance by focusing on principles of integrity, accountability, transparency, independence, responsibility and fairness. The Company has developed and implemented sound corporate governance policies and measures, and the Board is responsible for performing such corporate governance duties. The Board continues to review and monitor the corporate governance of the Company, as well as various internal policies and procedures, including but not limited to those applicable to the relevant employees and Directors, with reference to the CG Code set out in Appendix 14 to the Listing Rules and other applicable legal and regulatory requirements so as to maintain a high standard of corporate governance of the Company.

During FY2020, the Company has complied with the applicable code provisions of the Code as set out in Appendix 14 to the Listing Rules except for the deviation from code provision A.2.1 of the CG Code as disclosed below.

Pursuant to code provision A.2.1 of the CG Code, the roles of chairman and chief executive should be separate and should not be performed by the same individual. However, the Company does not have a separate roles of chairman and chief executive officer and Mr. LU Yuanfeng currently performs these two roles. With extensive experience in the internet industry, Mr. LU Yuanfeng is responsible for the overall strategic planning and general management of the Group and is instrumental to the Company's growth and business expansion since its establishment on November 24, 2014. The Board considers that vesting the roles of chairman and chief executive officer in the same person is beneficial to the management of the Group. The balance of power and authority is ensured by the operation of the senior management and the Board, which comprises experienced individuals. The Board currently comprises three executive Directors (including Mr. LU Yuanfeng), and three independent non-executive Directors and therefore has a fairly strong independence element in its composition.

本公司透過專注於持正、問責、透明、獨立、盡責 及公平原則,致力於達致及維持高水準的企業管 治。本公司已制定及實行良好的企業管治政策及措 施,並由董事會負責執行該等企業管治職責。董事 會參考上市規則附錄十四所載的企業管治守則以及 其他適用法例及監管規定,持續檢討及監督本公 司的企業管治狀況以及多項內部政策及程式(包括 但不限於適用於相關僱員及董事的該等政策及程 序),以維持本公司高水準的企業管治。

於二零二零財政年度,本公司已遵守上市規則附錄 十四所載該守則的適用守則條文,惟下文所披露偏 離企業管治守則條文第A.2.1條除外。

根據企業管治守則條文第A.2.1條,主席與行政總 裁的角色應有區分,並不應由一人同時兼任。然 而,本公司並無區分主席與首席執行官的角色,現 時由陸源峰先生同時擔任該兩個職位。陸源峰先生 在互聯網行業擁有豐富經驗,負責本集團整體戰略 規劃及整體管理,且自本公司於二零一四年十一月 二十四日成立以來對本公司成長及業務擴張貢獻良 多。董事會認為,將主席及首席執行官的角色授予 同一人兼任有利於本集團的管理。高級管理層及董 事會(由經驗豐富的個別人士組成)的運作確保權力 與權限的平衡。董事會現時由三名執行董事(包括 陸源峰先生)及三名獨立非執行董事組成,因此其 組成具有頗強的獨立元素。

企業管治報告(續)

BOARD OF DIRECTORS

The Board is responsible for leadership and the internal control of the Company and oversees the Group's businesses, strategic decisions and performance and is collectively responsible for promoting the success of the Company by directing and supervising its affairs. The Board has general powers for the management and operation of the Company's business. The day-to-day operations and management are delegated by the Board to the management of the Company, who implements the strategy and direction as determined by the Board.

The Board currently consists of six Directors, namely Mr. LU Yuanfeng (chairman and chief executive officer), Mr. HUANG Guozhan and Mr. HUANG Deqiang as executive Directors, and Ms. Imma LING Kit-sum, Mr. LI Yi Wen and Mr. LU Qibo as independent non-executive Directors. None of the Directors has a relationship (including financial, business, family or material/relevant relationship) with each other. The Board has a balance of skills and experience appropriate for the requirements of the business of the Company.

The biographies of the Directors are set out on pages 19 to 25 of this annual report.

Code provision A.4.2 of the CG Code states that all directors appointed to fill a casual vacancy should be subject to election by shareholders at the first general meeting after appointment and that every director, including those appointed for a specific term, should be subject to retirement by rotation at least once every three years.

董事會

董事會負責本公司的領導及內部監控,和監督本集 團的業務、戰略決策及表現,並共同負責透過指導 及監督本公司事務,促進本公司的成功。董事會擁 有管理及營運本公司業務的一般權力。董事會將日 常經營及管理授權予本公司管理層負責,管理層將 執行董事會釐定的策略及方針。

董事會目前由六名董事組成,即執行董事陸源峰先 生(主席兼首席執行官)、黃國湛先生及黃德強先生 以及獨立非執行董事凌潔心女士、李毅文先生及盧 啟波先生。董事之間概無關係(包括財務、商業、 家屬或重大╱相關關係)。董事會具備本公司業務 所需的適當技能及經驗。

董事履歷載於本年報第19至25頁。

企業管治守則的守則條文第A.4.2條列明,為填補 臨時空缺而獲委任的所有董事應於獲委任後首個股 東大會上由股東重選,而每名董事(包括按特定任 期獲委任者)應至少每三年輪席退任一次。

企業管治報告(續)

In accordance with the Articles, all the Directors are subject to retirement by rotation at an annual general meeting of the Company at least once every three years. Any new Director appointed by the Board (i) to fill a casual vacancy in the Board shall hold office only until the first general meeting of the Company following his appointment and shall be subject to re-election at such meeting; and (ii) as an addition to the Board shall hold office until the next following annual general meeting of the Company and shall then be eligible for re-election.

Each of the executive Directors has entered into a service contract with the Company and the Company has issued letters of appointment to each of the independent non-executive Directors. Each of the executive Directors is appointed for a term of one to three years and is subject to retirement by rotation at least once every three years. Each of the independent non-executive Directors is appointed for a term of one to three years, subject to retirement by rotation at lease once every three years. The terms of the service contracts and the letters of appointment may be renewed in accordance with the Articles, the Listing Rules and other applicable laws.

The aggregate remuneration (including fees, salaries, contributions to pension schemes, share-based compensation expenses, discretionary bonuses, housing and other allowances and other benefits in kind) payable to the Directors for FY2020 was approximately USD0.2 million.

The remuneration of the Directors is determined with reference to salaries paid by comparable companies, time commitment and responsibilities of the Directors and performance of the Group. Details of the remuneration of the Directors and senior management for FY2020 are set out in Note 34 to the consolidated financial statements respectively.

根據組織章程細則,所有董事應至少每三年在本公 司股東週年大會輪席退任一次。獲董事會委任(i)以 填補董事會臨時空缺的任何新董事應僅任職至其獲 委任後的本公司首個股東大會為止,而屆時可在該 大會上重選連任;及(ii)出任新增董事會席位的任何 新董事可任職至本公司下一屆股東週年大會為止, 屆時將合資格重選連任。

各執行董事已與本公司訂立服務合約,而本公司已 向各獨立非執行董事發出委任函。各執行董事按一 至三年任期獲委任,並須至少每三年輪席退任一 次。各獨立非執行董事按一至三年任期獲委任,並 須至少每三年輪席退任一次。服務合約及委任函年 期可根據組織章程細則、上市規則及任何其他適用 法例重續。

二零二零財政年度,應付董事的總薪酬(包括袍 金、薪金、養老金計劃供款、以股份為基礎的薪酬 開支、酌情花紅、住房及其他津貼以及其他實物福 利)合共約為0.2百萬美元。

董事薪酬乃參考可資比較公司所支付的薪金、董事 投入的時間及職責以及本集團的表現釐定。二零二 零財政年度的董事及高級管理層的薪酬詳情分別載 於合併財務報表附註34。

企業管治報告(續)

The Company has arranged appropriate insurance cover in respect of legal proceedings against the Directors.

The Board has agreed, as stipulated in code provision A.1.6 of the CG Code, on the procedure agreed to enable Directors, upon reasonable request, to seek independent professional advice in appropriate circumstances, at the Company's expense.

The Company has complied with Rule 3.10A of the Listing Rules relating to the appointment of independent non-executive Directors representing at least one-third of the Board.

The Company has received an annual confirmation of independence from each of the independent non-executive Directors pursuant to Rule 3.13 of the Listing Rules, and considers all the independent non-executive Directors are independent.

Directors have access to the services of the company secretary to ensure that the Board procedures are followed. During the period form January 1, 2020 to December 10, 2020, the joint company secretaries of the Company were Mr. YU Ching Ming and Ms. FOK Po Yi. Starting from December 11, 2020, Mr. YU Ching Ming ceased to be one of our joint company secretaries and Ms. FOK Po Yi became as the company secretary of the Company. In compliance with Rule 3.29 of the Listing Rules, Mr. YU Ching Ming and Ms. FOK Po Yi had undertaken no less than 15 hours of relevant professional training during FY2020. During FY2020, the main contact person of Ms. FOK Po Yi in the Company is Mr. LU Yuanfeng.

Starting from February 2, 2021, Ms. FOK Po Yi ceased to be the company secretary of the Company, and Mr. WONG Wai Chiu replaced Ms. FOK Po Yi as the company secretary of the Company with effect from February 2, 2021. Mr. WONG Wai Chiu is the associate director of SWCS Corporate Services Group (Hong Kong) Limited and he has the necessary qualifications and experience as required under Rule 3.28 of the Listing Rules. The main contact person of Mr. WONG Wai Chiu in the Company is Mr. LU Yuanfeng.

本公司已就針對本公司董事的法律行動安排適當的 保險。

董事會已同意企業管治守則的守則條文第A.1.6條 所規定的程序,讓董事可在提出合理要求時,在適 當情況下尋求獨立專業意見,有關費用由本公司承 擔。

本公司已遵守上市規則第3.10A條有關委任獨立非 執行董事佔董事會至少三分之一的規定。

本公司已根據上市規則第3.13條收到各獨立非執行 董事的獨立性書面確認,並認為所有獨立非執行董 事均為獨立人士。

董事可獲得公司秘書的服務,以確保遵循董事會程 序。於二零二零年一月一日至二零二零年十二月十 日期間,本公司的聯席公司秘書為余精明先生及霍 寶兒女士。自二零二零年十二月十一日起,余精明 先生不再擔任我們的聯席公司秘書,而霍寶兒女士 成為本公司的公司秘書。根據上市規則第3.29條, 余精明先生及霍寶兒女士於二零二零財政年度已參 加不少於15小時相關專業培訓。於二零二零財政年 度,霍寶兒女士於本公司的主要聯絡人為陸源峰先 生。

自二零二一年二月二日起,霍寶兒女士不再擔任本 公司的公司秘書,而黃偉超先生取代霍寶兒女士成 為本公司的公司秘書,自二零二一年二月二日起生 效。黃偉超先生為方圓企業服務集團(香港)有限公 司的聯席董事,具有上市規則第3.28條所規定的必 要資格及經驗。黃偉超先生於本公司的主要聯絡人 為陸源峰先生。

企業管治報告(續)

During FY2020, the following Directors have participated in continuous professional development by attending in-house briefing or reading materials on the following topics to develop and refresh their knowledge and skills:

於二零二零財政年度,下列董事曾透過有關以下議 題的內部簡報或閱讀材料來參與持續專業發展,以 充實和更新彼等的知識及技能:

					Event/Reading Materials notes 活動╱ 閱讀材料附註
	Executive Directors	執行董事
	Mr. LU Yuanfeng	陸源峰先生			1
	Mr. HUANG Guozhan	黃國湛先生			1
	Mr. HUANG Deqiang	黃德強先生			1
	Independent non-executive Directors	獨立非執行董事
	Ms. Imma LING Kit-sum	凌潔心女士			1,2
	Mr. LI Yi Wen	李毅文先生			1
	Mr. LU Qibo	盧啟波先生			1
Notes:			附註:
1.	Reading materials relevant to corporate governance and regulations.		1.	閱讀有關企業管治及法規的材料。
2.	Attending training session(s) relevant to corporate governance and regulations.		2.	出席有關企業管治及法規的培訓。

企業管治報告(續)

BOARD DIVERSITY POLICY

The Company has adopted the board diversity policy which aims to build and maintain a Board with a diversity of Directors, in terms of skills, professional experience, educational background, knowledge, expertise, culture, independence, age and gender. A truly diverse Board will include and make good use of differences in the skills, regional and industry experience, background, race, gender and other qualities of Directors. These differences will be taken into account in determining the optimum composition of the Board. All Board appointments will be based on merit while taking into account diversity (including gender diversity).

In identifying and selecting suitable candidates to serve as a director of the Company, the Nomination Committee would consider the above criteria necessary to complement the corporate strategy and achieve Board diversity, where appropriate, before making recommendations to the Board.

The Company seeks diversity of members from multiple perspectives in designing the composition of the Board, including gender, cultural and education background, as well as professional experience. As at the date of this annual report, the Board consists of six Directors, of whom one is female. Directors are with an extensive background in fields such as finance, accounting, audit, economics and management, while some of them have multiple professional backgrounds.

BOARD MEETING

The Company adopts a practice to convene Board meetings regularly which is at least four meetings per year and roughly on a quarterly basis. A notice of a regular Board meeting shall be delivered to all the Directors at least 14 days in advance with the matters to be discussed specified in agenda of the meeting. For other Board and Board Committees meetings, reasonable notice is generally served. Agendas or relevant documents of the Board or Board Committees meetings shall be despatched to the Directors or members of the Board Committees at least 3 days prior to the convening of the meetings to ensure that they have sufficient time to review the relevant documents and be adequately prepared for the meetings. When Directors or Board committee members are unable to attend a meeting, they will be advised of the matters to be discussed and given an opportunity to make their views known to the chairman prior to the meeting. The minutes are kept by the company secretary of the Company and the copies are circulated to all Directors for reference and record purpose.

董事會多元化政策

本公司已採納董事會多元化政策,旨在建立及維持 一個由多元化董事組成的董事會,無論在技能、專 業經驗、教育背景、知識、專才、文化、獨立性、 年齡及性別方面均達到多元化。一個真正多元化 的董事會應包括並善用董事於技能、地區及行業經 驗、背景、種族、性別及其他素質等方面之分別。 公司在制定董事會成員的最佳組合時將考慮上述的 分別。所有董事會成員的任命均以用人唯才為原 則,並考慮多元化因素(包括性別多元化)。

在物色及挑選合適人選擔任本公司董事時,提名委 員會首先會適當考慮可配合公司策略及達致董事會 多元化所需的上述條件,才向董事會提出建議。

本公司在設計董事會的組成時,從多個角度尋求成 員的多元化,包括性別、文化及教育背景以及專業 經驗。截至本年報日期,董事會由六名董事組成, 其中一人為女性。董事具備財務、會計、審計、經 濟及管理等方面的廣泛背景,其中部份更具備多個 專業背景。

董事會會議

本公司採納定期舉行董事會會議的慣例,即每年至 少舉行四次會議及大致按季度舉行會議。董事會例 行會議的通知會於會議舉行前至少14日送呈全體董 事,並於會議的議程內列明有關事宜。就其他董事 會及董事委員會會議而言,本公司一般會發出適當 通知。議程及相關董事會或董事委員會文件將於會 議召開前至少3日發送予董事或董事委員會成員, 以確保彼等有充足時間審閱有關文件及有充份準備 出席會議。倘董事或董事委員會成員未能出席會 議,則彼等會獲告知將予討論的事宜及於會議召開 前有機會知會主席有關彼等的意見。會議紀錄由本 公司的公司秘書保存,而副本會讓全體董事傳閱, 以供參考及記錄。

企業管治報告(續)

The minutes of the meetings of the Board and the Board Committees thoroughly recorded all matters under consideration and decisions made by consensus including any problems raised by the Directors. Draft minutes of each Board meeting and the Board Committees meeting are sent to the Directors for comments within a reasonable time after the date on which the meeting is held. Directors have a right to review the minutes of the Board meetings and the Board Committees meetings.

According to code provision A.1.1 of the Code, board meetings should be held at least four times a year at approximately quarterly intervals with active participation of the majority of the Directors, either in person or through electronic means of communication.

Six Board meetings and the AGM for 2020 were held during FY2020. The Directors' attendance is listed below:

董事會會議及董事委員會會議的會議記錄會詳盡記 錄董事會及董事委員會所考慮的事宜及一致達成的 決定,包括董事提出的任何問題。各董事會會議及 董事委員會會議的會議記錄草擬本將於會議舉行 當日之後的合理時間內發送予各董事,以供彼等評 註。董事有權查閱董事會會議及董事委員會會議的 會議記錄。

根據企業管治守則的守則條文第A.1.1條,董事會 會議應最少一年舉行四次,大概每季度舉行一次, 而大部份董事均須踴躍參與,可親身或透過電子通 訊方式出席會議。

本公司於二零二零財政年度內已舉行六次董事會會 議以及二零二零年股東週年大會,各董事之出席情 況載列如下:

		Attendance/
		Number of meetings
		eligible to attend
		出席次數╱應出席會議次數
		Board meeting	AGM for 2020
			二零二零年
		董事會會議	股東週年大會
Executive Directors	執行董事
Mr. LU Yuanfeng	陸源峰先生	6/6	1/1
Mr. HUANG Guozhan	黃國湛先生	6/6	1/1
Mr. HUANG Deqiang	黃德強先生	6/6	1/1
Independent non-executive Directors	獨立非執行董事
Ms. Imma LING Kit-sum	凌潔心女士	6/6	1/1
Mr. LI Yi Wen	李毅文先生	6/6	1/1
Mr. LU Qibo	盧啟波先生	6/6	1/1

BOARD COMMITTEES

The Company has three Board Committees, namely the Audit Committee, the Nomination Committee and the Remuneration Committee. Each of the Board Committees operates under its terms of reference. The terms of reference of the Board Committees are available on the websites of the Company and the Stock Exchange.

本公司設有三個董事委員會,即審核委員會、提名

董事委員會

委員會及薪酬委員會。各個董事委員會均按其職權 範圍運作。董事委員會的職權範圍於本公司及聯交 所網站可供查閱。

遊萊互動集團有限公司 二零二零年年報 43

企業管治報告(續)

Audit Committee

The Company has established an Audit Committee with written terms of reference in compliance with the Code as set out in Appendix 14 to the Listing Rules. The Company has also amended the terms of reference of the Audit Committee reflecting the changes to the Code in respect of the Company's risk management and internal control systems, which became effective on November 24, 2017. The Company further amended the terms of reference of the Audit Committee on November 23, 2018. The Audit Committee consists of three members, namely Ms. Imma LING Kit-sum, Mr. LI Yi Wen and Mr. LU Qibo, all of whom are independent non-executive Directors. Ms. Imma LING Kit-sum has been appointed as the chairman of the Audit Committee. The primary duties of the Audit Committee are to review and supervise, and provide an independent view of the effectiveness of the financial reporting process, the risk management and internal control systems of the Group, oversee the audit process and perform other duties and responsibilities as assigned by the Board.

Two meetings of the Audit Committee were held during FY2020. The attendance of the committee members is listed below:

審核委員會

本公司已根據上市規則附錄十四所載該守則成立審 核委員會,並訂立書面職權範圍。本公司亦已更新 審核委員會的職權範圍,反映對守則中有關本公司 的風險管理及內部控制系統的修訂,並自二零一七 年十一月二十四日起生效。於二零一八年十一月二 十三日,本公司進一步修訂了審核委員會的職權範 圍。審核委員會由三名成員組成,即凌潔心女士、 李毅文先生及盧啟波先生,所有成員為獨立非執行 董事。凌潔心女士已獲委任為審核委員會的主席。 審核委員會的主要職責為檢討及監督本集團的財務 報告流程、風險管理及內部控制系統並就有關事項 的有效性提供獨立意見、監察審計流程,以及履行 董事會指派的其他職責及責任。

於二零二零財政年度,審核委員會已舉行兩次會 議。各成員之出席情況載列如下:

		Attendance/ Number of meetings eligible to attend 出席次數╱
Members	成員	應出席會議次數
Ms. Imma LING Kit-sum	凌潔心女士	2/2
Mr. LI Yi Wen	李毅文先生	2/2
Mr. LU Qibo	盧啟波先生	2/2

For FY2020, the Audit Committee has reviewed the Group's audited annual results for the year ended 31 December 2019 and the Group's unaudited interim results for the six months ended 30 June 2020, and was of the opinion that the preparation of the relevant financial statements complied with the applicable accounting standards and requirements and that adequate disclosure has been made. The Audit Committee provided an independent view of the risk management and internal governance systems of the Group. The Audit Committee has also reviewed the accounting principles and practices adopted by the Group, and selection and appointment of the external auditors.

於二零二零財政年度,審核委員會已審閱本集團截 至二零一九年十二月三十一日止年度的經審核年度 業績及本集團截至二零二零年六月三十日止六個月 的未經審核中期業績,並認為相關財務報表已遵 照適用會計準則及規定編製及已作出充分披露。審 核委員會就本集團的風險管理及內部控制系統的有 效性提供獨立意見,審核委員會亦已審閱本集團採 用的會計原則及常規,以及外部核數師的挑選及委 任。

企業管治報告(續)

Nomination Committee

The Company has established a Nomination Committee with written terms of reference in compliance with the Code as set out in Appendix 14 to the Listing Rules. The Nomination Committee consists of two independent non-executive Directors, being Mr. LI Yi Wen and Mr. LU Qibo, and one executive Director, being Mr. LU Yuanfeng, who is the chairman of the Nomination Committee.

The Nomination Committee is mainly responsible for reviewing and assessing the composition of the Board and the independence of the independent non-executive Directors and making recommendations to the Board on appointment and removal of Directors. In recommending candidates for appointment to the Board, the Nomination Committee will convene a meeting to consider candidates on merit against objective criteria and with due regards to the benefits of the Board. The Nomination Committee shall make recommendations or nominations to the Board for candidates to fill a casual vacancy or for those who are elected at a general meeting. A notice issued to shareholders will provide information on the candidates. The Board shall make the final decision on all matters in respect of the election of its proposed candidates at any general meeting. The selection criteria for Board members will be considered from a number of perspectives, including but not limited to all aspects of integrity, achievement, experience and diversity, such as gender, age, cultural and educational background, industry experience, technical and professional skills and/or qualifications, knowledge, length of services and time to be devoted as a Director. The Company will also take into account factors relating to its own business model and specific needs from time to time. The ultimate decision will be based on merit and contribution that the selected candidates will bring to the Board.

One meeting of the Nomination Committee was held during FY2020. The attendance of the committee members is listed below:

提名委員會

本公司已根據上市規則附錄十四所載該守則成立提 名委員會,並訂立書面職權範圍。提名委員會由兩 名獨立非執行董事(即李毅文先生及盧啟波先生)及 一名執行董事(即陸源峰先生)組成。陸源峰先生為 提名委員會的主席。

提名委員會主要負責檢討及評估董事會的組成及獨 立非執行董事的獨立性,以及就委任及罷免董事向 董事會提供推薦意見。於推薦人選以委任加入董事 會時,提名委員會將召開會議按客觀條件考慮人 選,並適度顧及董事會的裨益。提名委員會須分別 就臨時空缺或在股東大會上參選的候選人,向董事 會提出建議或提名。向股東發出的股東通告將提供 候選人的資料。董事會在任何股東大會上就其建議 候選人參選的所有事宜作出最終決定。董事會成員 的選拔標準將從多個方面進行考慮,包括但不限於 誠信、成就、經驗和多樣性的所有方面,例如:性 別、年齡、文化及教育背景、道德、專業技能及╱ 或資格、知識、服務年期及擔任董事的時間。本公 司亦將計及與其本身業務模式及不時的具體需求有 關的因素。最終決定將以用人唯才為原則,並考慮 所挑選的人選將對董事會作出的貢獻。

於二零二零財政年度,提名委員會舉行了一次會 議。各成員之出席情況載列如下:

		Attendance/
		Number of meetings
		eligible to attend
Members	成員	出席次數╱應出席會議次數
Mr. LU Yuanfeng	陸源峰先生	1/1
Mr. LI Yi Wen	李毅文先生	1/1
Mr. LU Qibo	盧啟波先生	1/1

During the year ended 31 December 2020, the nomination committee reviewed the structure, size and composition of the Board, assessed the independence of independent non-executive Directors, and considered the re-election of retiring Directors for 2020 AGM and made recommendations to the Board.

截至二零二零年十二月三十一日止年度,提名委員 會檢討了董事會的架構、人數與組成以及評核獨立 非執行董事的獨立性,並考慮就於二零二零年股東 週年大會上重選退任董事向董事會提出建議。

遊萊互動集團有限公司 二零二零年年報 45

企業管治報告(續)

Remuneration Committee

The Company has established a Remuneration Committee with written terms of reference in compliance with the Code as set out in Appendix 14 to the Listing Rules. The Remuneration Committee has three members, comprising two independent non-executive Directors, namely Mr. LI Yi Wen and Mr. LU Qibo, and one executive Director, namely Mr. LU Yuenfeng. Mr. LI Yi Wen is the chairman of the Remuneration Committee.

The duties of the Remuneration Committee include:

• (a) to make recommendations to the Board on the Company's policy and structure for all directors and senior management remuneration and on the establishment of a formal and transparent procedure for developing remuneration policy;
• (b) to review and approve the management's remuneration proposals with reference to the Board's corporate goals and objectives;
• (c) to make recommendations to the Board on the remuneration packages of individual executive directors and senior management of the Company. This should include benefits in kind, pension rights and compensation payments, including any compensation payable for loss or termination of their office or appointment;
• (d) to make recommendations to the Board on the remuneration of nonexecutive directors of the Company;
• (e) to consider salaries paid by comparable companies, time commitment and responsibilities, and employment conditions elsewhere in the Company and its subsidiaries;
• (f) to review and approve compensation payable to executive directors and senior management of the Company for any loss or termination of office or appointment to ensure that it is consistent with contractual terms and is otherwise fair and not excessive;

薪酬委員會

本公司已根據上市規則附錄十四所載該守則成立薪 酬委員會,並訂立書面職權範圍。薪酬委員會擁 有三名成員,包括兩名獨立非執行董事(即李毅文 先生及盧啟波先生)及一名執行董事(即陸源峰先 生)。李毅文先生為薪酬委員會的主席。

薪酬委員會的職責包括:

• (a) 就本公司所有董事及高級管理層的薪酬政策及 架構,及就設立正規而具透明度的程序制定薪 酬政策,向董事會作出推薦建議;
• (b) 參照董事會所訂公司目標及目的檢討及批准管 理層的薪酬建議;
• (c) 就本公司個別執行董事及高級管理層的薪酬福 利向董事會作出推薦建議。薪酬福利包括實物 利益、退休金權利及賠償款項(包括任何喪失 或終止職務或委任的賠償);
• (d) 就本公司非執行董事的薪酬向董事會作出推薦 建議;
• (e) 考慮同類公司支付的薪酬、須付出的時間及職 責以及本公司及其附屬公司內其他職位的僱傭 條件;
• (f) 檢討及批准就任何喪失或終止職務或委任而向 本公司執行董事及高級管理層支付的賠償,以 確保該等賠償與合約條款一致;若未能與有關 合約條款一致,賠償亦須公平合理,不會造成 過重負擔;

46 Digital Hollywood Interactive Limited Annual Report 2020

企業管治報告(續)

• (g) to review and approve compensation arrangements relating to dismissal or removal of directors for misconduct to ensure that they are consistent with contractual terms and are otherwise reasonable and appropriate;
• (h) to ensure that no director of the Company or any of his associates is involved in deciding his own remuneration;
• (i) where the service contract of a director or proposed director of the Company or its subsidiaries is required to be approved by the shareholders of the Company pursuant to Rule 13.68 of the Listing Rules, the Remuneration Committee (or an independent board committee) shall form a view in respect of such service contract and advise shareholders (other than shareholders who are directors with a material interest in such service contract and their associates) as to whether the terms are fair and reasonable, advise whether such service contract is in the interests of the Company and its shareholders as a whole and advise shareholders on how to vote; and
• (j) to consider all other matters as referred to the Remuneration Committee by the Board.

In carrying out its duties under these terms of reference, the Remuneration Committee should:

• (a) provide the remuneration packages sufficient to attract and retain directors to run the Company successfully without paying more than is necessary;
• (b) be sensitive to the wider scene, including pay and employment conditions elsewhere, especially when determining annual salary increases;
• (c) ensure that the performance-related elements of remuneration form a significant proportion of the total remuneration package of executive directors of the Company and should be designed to align their interest with those of shareholders and to give these directors keen incentives to perform at the highest levels; and

• (d) ensure that executive share options (if any) are offered in accordance with the Listing Rules.

• (g) 檢討及批准因董事行為失當而解僱或罷免有關 董事所涉及的賠償安排,以確保該等安排與合 約條款一致;若未能與有關合約條款一致,有 關安排亦須合理適當;

• (h) 確保本公司董事或其任何聯繫人概不得自行釐 定薪酬;
• (i) 倘本公司或其附屬公司的董事或建議董事的服 務合約須根據上市規則第13.68條由本公司股 東批准,薪酬委員會(或獨立董事委員會)將 就有關服務合約發表意見,並就條款是否屬公 平合理向股東(身為董事且於有關服務合約中 擁有重大權益的股東及其聯繫人除外)提供意 見、就有關服務合約是否符合本公司及其股東 的整體利益提供意見及就如何投票向股東提供 意見;及
• (j) 審議董事會交由薪酬委員會處理的所有其他事 項。
• 於履行本職權範圍內的職責時,薪酬委員會應:
• (a) 提供足夠的薪酬福利,從而在毋須支付過多酬 金的情況下吸引及挽留董事,令本公司能成功 運營;
• (b) 留意其他情況,包括其他方面的付薪及員工僱 傭情況,特別是在決定年度加薪時;
• (c) 確保薪酬的績效相關部分為構成本公司執行董 事總薪酬福利的主要部份,並使彼等的利益與 股東的利益一致,激勵董事以最高水平發揮所 長;及
• (d) 確保行政人員購股權(如有)乃遵照上市規則 授出。

遊萊互動集團有限公司 二零二零年年報 47

企業管治報告(續)

One meeting of the Remuneration Committee was held during FY2020. The attendance of the committee members is listed below:

於二零二零財政年度,薪酬委員會舉行了一次會 議。各成員之出席情況載列如下:

		Attendance/
		Number of meetings
		eligible to attend
		出席次數╱
Members	成員	應出席會議次數
Mr. LI Yi Wen	李毅文先生	1/1
Mr. LU Yuanfeng	陸源峰先生	1/1
Mr. LU Qibo	盧啟波先生	1/1

For the year ended 31 December 2020, the remuneration committee surveyed peer companies' remuneration packages and reviewed the remuneration packages of the executive Directors and the management.

MODEL CODE FOR SECURITIES TRANSACTIONS

The Company has adopted the Model Code set out in Appendix 10 to the Listing Rules as its code of conduct regarding dealings in the securities of the Company by the Directors and the Group's senior management who, because of his/her office or employment, is likely to possess inside information in relation to the Group or the Company's securities.

Having made specific enquiry, all Directors confirmed that they have complied with the Model Code during the year under review. In addition, the Company is not aware of any non-compliance of the Model Code by the senior management of the Group during the year under review.

FRAMEWORK FOR DISCLOSURE OF INSIDE INFORMATION

The Company has in place a policy on handling and dissemination of inside information (the "Policy") which sets out the procedures and internal controls for handling and dissemination of inside information in a timely manner in such a way so as not to place any person in a privileged dealing position and to allow time for the market to determine the price of the listed securities of the Company with the latest available information. This Policy also provides guidelines to staff of the Company to ensure that proper safeguards exist to prevent the Company from breaching the statutory disclosure requirements. It also includes appropriate internal control and reporting systems to identify and assess potential inside information. Dissemination of inside information of the Company shall be conducted by publishing the relevant information on the websites of the Stock Exchange and the Company, according to the requirements of the Listing Rules.

截至二零二零年十二月三十一日止年度,薪酬委員 會調查了同業公司的薪酬待遇,並檢討了執行董事 及高級管理層的薪酬待遇。

證券交易的標準守則

本公司已採納上市規則附錄十所載的標準守則作為 董事及本集團高級管理層(彼等因有關職位或受僱 工作而可能擁有有關本集團或本公司證券之內幕消 息)買賣本公司證券的行為守則。

經作出具體查詢後,全體董事均確認彼等於回顧年 度內已遵守標準守則。此外,本公司並未獲悉本集 團高級管理層於回顧年度內有任何不遵守標準守則 之情況。

內幕消息披露框架

本公司訂立處理及發佈內幕消息政策(「政策」),當 中載有處理及發佈內幕消息的程式及內部控制,使 內幕消息得以適時處理及發佈,而不會導致任何人 士在證券交易上處於佔優的地位,亦讓市場有時間 定出能反映現有實況的本公司上市證券價格。該政 策亦為本公司員工提供指引,確保設有適當措施以 預防本公司違反法定披露規定。該政策亦載有適當 的內部控制及匯報制度,以識別及評估潛在的內幕 消息。本公司內幕消息之發佈方法乃根據上市規則 規定,於聯交所及本公司網站刊載相關消息。

企業管治報告(續)

EXTERNAL AUDITOR

PricewaterhouseCoopers has been appointed as the external auditor of the Company with effect from December 8, 2017, and there has been no change in the external auditor of the Company since the Listing Date.

For FY2020, the fees paid/payable to PricewaterhouseCoopers for audit and non-audit services (primarily related to tax advisory services) are approximately USD442,400 and USD6,300, respectively.

ACCOUNTABILITY AND AUDIT

The Directors are responsible for overseeing the preparation of the financial statements which give a true and fair view of the state of affairs of the Group and of the results and cash flow during FY2020. A statement from the auditor about its reporting responsibilities on the financial statements is set out on pages 110 to 112 of this annual report. In preparing the financial statements for FY2020, the Directors have selected suitable accounting policies and applied them consistently, made judgments and estimates that are prudent, fair and reasonable and prepared the financial statements on a going concern basis.

The Directors were not aware of any material uncertainties relating to events or conditions which may cast significant doubt upon the Group's ability to continue as a going concern.

The basis on which the Company generates or preserves value over the longer term and the strategy for delivering its objectives are explained in the "Management Discussion and Analysis" set out on pages 26 to 36 of this annual report.

外部核數師

羅兵咸永道會計師事務所已獲委任為本公司的外部 核數師,自二零一七年十二月八日起生效,及自上 市日期以來本公司的外部核數師未有變化。

二零二零財政年度,就審計及非審計服務(主要關 於稅務諮詢服務)已付╱應付予羅兵咸永道會計師 事務所的費用分別約為442,400美元及6,300美元。

問責及審計

董事負責監督財務報表的編製工作,以真實公平地 反映本集團的財務狀況以及二零二零財政年度的業 績及現金流量。核數師就其對財務報表的申報責任 的聲明乃載於本年報第110至112頁。於編製二零 二零財政年度的財務報表時,董事已選擇合適的會 計政策並貫徹應用;作出審慎、公平及合理的判斷 及估計;並按持續基準編製財務報表。

董事並不知悉任何可能會嚴重影響本集團持續經營 能力的重大不明朗事件或情況。

本公司長期產生或保存價值的基準及達成目標的策 略詳述於本年報第26至36頁所載「管理層討論及分 析」。

企業管治報告(續)

INTERNAL CONTROL AND RISK MANAGEMENT

The Board is responsible for maintaining sound and effective internal control and risk management systems in order to safeguard the Group's assets and Shareholders' interests and reviewing the effectiveness of the Group's internal control and risk management systems on an annual basis so as to ensure that internal control and risk management systems in place are adequate. Such systems are designed to manage rather than eliminate the risk of failure to achieve business objectives, and can only provide reasonable and not absolute assurance against material misstatement or loss. The Company also has an internal audit function which primarily carries out the analysis and independent appraisal of the adequacy and effectiveness of the Company's risk management and internal control systems, and reports their findings to the Board on, at least an annual basis. The Company implements and strictly enforces procedures on inside information according to the relevant procedures stated under the Guidelines on Disclosure of Inside Information.

The Group's internal control system includes a well-established organisational structure with clearly defined lines of responsibility and authority. The day-to-day departmental operations are entrusted to individual department which is accountable for its own conduct and performance and is required to operate its own department's business within the scope of the delegated authority and to implement and strictly adhere to the strategies and policies set by the Company from time to time. Each department is also required to keep the Board informed of material developments of the department's business and to implement the policies and strategies set by the Board on a regular basis so as to identify, evaluate and manage significant risks in a timely manner.

內部控制及風險管理

董事會負責維持健全和有效的內部控制及風險管理 系統,以保障本集團的資產及股東的利益,亦負責 每年監控本集團的內部控制及風險管理系統的有效 性,以確保現行的內部控制及風險管理系統為充分 足夠。有關系統旨在管理而非消除未能達致業務目 標之風險,僅可就重大錯誤陳述或損失提供合理而 非絕對保障。本公司亦有內部審核職能,主要負責 對本公司的風險管理及內部控制系統之充分性和有 效性進行分析及獨立評核,並(至少按年度)向董事 會報告結果。本公司根據所制定的《上市內幕信息 披露制度》所規定之相應程序進行內幕信息之處理 及嚴格執行。

本集團的內部控制系統包括完善、具清晰界定責任 及權限的組織架構。部門的日常營運由個別部門運 作,且各部門就其各自的操守和表現負責、按授予 的權限進行個別部門業務,執行及謹守本公司不時 訂立的策略和政策。各部門亦須要定期就部門業務 的重要發展及董事會訂立的政策和策略之實行情況 向董事會通報,以及及時識別、評估及管理重大風 險。

企業管治報告(續)

During FY2020, the Board has reviewed the effectiveness of the internal control and risk management systems of the Group to ensure that a sound system is maintained and operated by the management in compliance with the agreed procedures and standards. The review covered all material controls, including financial, operational and compliance controls and risk management functions. In particular, the Board considered the resources, staff qualifications and experience, training programmes and budget of the Company's accounting, internal audit and financial reporting functions are adequate. The review was conducted through discussions with the management of the Company, its external auditor and the assessment performed by the Audit Committee. The Board believes that the existing risk management and internal control systems are adequate and effective, in particular, for financial reporting and Listing Rules compliance as well as for resolving internal control defects (if any).

CHANGE IN CONSTITUTIONAL DOCUMENTS

The Articles were conditionally adopted by the Board on November 24, 2017 and became effective on the Listing Date. A copy of the Articles is available on the websites of the Company and the Stock Exchange. During FY2020, there was no significant change in constitutional documents of the Company.

SHAREHOLDERS' RIGHTS

The Company is incorporated in the Cayman Islands.

於二零二零財政年度內,董事會已檢討本集團內部 監控及風險管理制度的有效性,以確保管理層根據 協定程式及標準維持及管理一個運作良好的體系。 檢討範圍應涵蓋所有重大控制(包括財務、營運及 合規控制及風險管理職能)。尤其是,董事會認為 本公司在會計、內部審計及財務申報職能方面擁有 充足的資源、員工資格及經驗,以及員工所接受的 培訓課程及有關預算亦相當充足。有關檢討已經由 本公司管理層、外部核數師討論以及由審核委員會 進行評核。董事會認為現行的風險管理及內部控制 系統(尤其就財務報告以及遵守上市規則方面)及解 決內部監控缺失(如有)為足夠及有效。

章程文件變動

組織章程細則由董事會於二零一七年十一月二十四 日有條件採納,並自上市日期起生效。組織章程細 則的副本可於本公司及聯交所網站查閱。於二零二 零財政年度,本公司的章程文件並無任何重大變 動。

股東權利

本公司於開曼群島註冊成立。

企業管治報告(續)

Under Article 58 of the Articles, any one or more Shareholders holding at the date of the deposit of the requisition not less than one-tenth of the paid-up capital of the Company carrying the right of voting at general meetings of the Company may at all times have the right, by a written requisition to the Board or the company secretary of the Company, to require the convening of an extraordinary general meeting to be called by the Board for the transaction of any business specified in such requisition; and such meeting shall be held within 2 months after the deposit of such requisition. If, within 21 days of such deposit, the Board fails to proceed to convene such meeting, the requisitionist(s) himself (themselves) may do so in the same manner, and all reasonable expenses incurred by the requisitionist(s) as a result of the failure of the Board shall be reimbursed to the requisitionist(s) by the Company.

To safeguard Shareholders' interests and rights, a separate resolution is proposed for each substantially separate issue at general meetings, including the election of individual Directors. All resolutions put forward at general meetings will be voted on by poll pursuant to the Listing Rules and poll results will be posted on the websites of the Company and the Stock Exchange after each general meeting.

The Board is not aware of any provision allowing the Shareholders to put forward proposals at general meetings of the Company under the Articles and the Companies Law of the Cayman Islands. Shareholders who wish to put forward proposals at general meetings may refer to the preceding paragraph to make a written requisition to require the convening of an extraordinary general meeting of the Company.

Detailed procedures for Shareholders to propose a person for election as a Director are published on the Company's website.

For putting forward any enquiries to the Board, Shareholders may send written enquiries to the Company as follows:

Address: 2nd Floor, No. 368 Jiang Nan Da Dao (South), Haizhu District, Guangzhou, PRC

Attention: Office of the Board

The Company will not normally deal with verbal or anonymous enquiries.

根據組織章程細則第58條,一名或多名於遞呈請 求當日持有不少於本公司有權於股東大會上投票之 已繳股本十分之一的股東,於任何時候均有權以書 面請求書形式向本公司的董事會或公司秘書提呈請 求,以要求董事會就該請求書所指定的任何事務交 易召開股東特別大會,而該大會須於遞呈該請求書 後兩個月內舉行。倘於有關遞呈後21日內,董事會 未有召開該大會,則遞呈請求人士可以相同方式召 開大會,而本公司須向遞呈請求人士償付所有由遞 呈請求人士因董事會未能召開大會而產生的所有合 理開支。

為保障股東權益及權利,於股東大會上,各項重大 獨立議題(包括選舉個別董事)均以個別決議案作出 提呈。所有於股東大會上提呈的決議案將根據上市 規則以股數投票方式進行表決,投票結果將於各股 東大會後刊載於本公司及聯交所網站。

董事會並不知悉組織章程細則及開曼群島公司法有 任何條文允許股東於本公司的股東大會上提呈議 案。股東擬於股東大會上提呈議案,可參照前段所 述遞呈請求書以要求召開本公司股東特別大會。

有關股東提名候選董事的程序詳情已刊載於本公司 網站內。

關於向董事會作出任何查詢,股東可將書面查詢發 送至本公司,地址如下:

地址:中國廣州市海珠區江南大道南368號二層

經辦人:董事會辦公室

本公司將不會處理口頭或匿名的查詢。

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT 環境、社會與管治報告

This is the fourth environmental, social and governance ("ESG") report issued by the Group. The ESG report disclosed our sustainability policy and performance for FY2020. The scope of the ESG report includes the environmental and social performance of the Group's headquarters in Guangzhou during the period under review (unless otherwise stated). The relevant data for all other regional offices have not been collected and therefore is not disclosed in this ESG report.

The preparation of the ESG report complies with the Environmental, Social and Governance Reporting Guide as set out in Appendix 27 (2016) to the Listing Rules issued by the Stock Exchange and abides by the "Comply or Explain" provisions contained therein. The four reporting principles – materiality, quantitative, balance, and consistency – are taken as the basis for the preparation of the ESG report. The Board of Directors assumes full responsibility for the Group's ESG strategy and reporting, and through reviewing the ESG report, guarantees that the reported content is true, accurate, and complete.

ABOUT DIGITAL HOLLYWOOD

Digital Hollywood was listed on the Stock Exchange in 2017. The Group is committed to becoming a leading global online game publisher while building success in developing and launching dozens of high-quality mobile games.

We help China-based game developers penetrate into the international markets with one-stop solutions, including game redesign, optimization, marketing, distribution, monetization, payment support and other user-related services.

We offer a diverse selection of games consisting primarily of casual games and mid-and hardcore games in both web and mobile formats to a demographically diverse user community.

VISION

To become and be recognized as an interactive entertainment group providing world-class user experiences.

此乃遊萊互動集團有限公司連同其附屬公司發佈的 第四份環境、社會及管治(「ESG」)報告。ESG報 告披露了我們於二零二零財政年度的可持續發展方 針及表現。ESG報告的範圍為本集團廣州辦事處有 關報告期的ESG表現(除非另有說明)。本報告未搜 集和披露所有區域辦事處的相關數據,故並未於本 ESG報告中披露。

ESG報告的編製遵循香港聯合交易所有限公司發 佈的《香港聯合交易所有限公司證券上市規則》附 錄二十七《環境、社會及管治報告指引》(2016年版 本)及符合當中的「不遵守就解釋」條文,並且以重 要性、量化、平衡及一致性的匯報原則作為編製基 礎。董事會對本集團的ESG策略和匯報承擔全部責 任,並通過審閱ESG報告,保證所匯報內容為真 實、準確和完整。

關於遊萊互動

遊萊互動二零一七年於香港聯合交易所有限公司上 市。本集團致力於成為全球領先的網絡遊戲發行 商,同時成功開發並推出數十款優質的手機遊戲。

我們以一站式解決方案(包括遊戲重新設計、優 化、營銷、發行、變現、付款支持及其他與用戶有 關的服務)幫助中國的遊戲開發商滲透國際市場。

我們為多樣化的用戶群體提供多元化的遊戲以供選 擇,主要包括網頁及手機休閒遊戲以及中重度遊 戲。

公司遠景

成為並被公認為提供世界頂級用戶體驗的互動娛樂 集團。

環境、社會與管治報告(續)

OBJECTIVE

Connecting with happiness among players, business partners and employees.

CORPORATE CULTURE – CORE VALUES

We firmly believe that pooling people who agree with and adhere to the common pursuit of long-term goals in creating cohesion is the most valuable and worth-inheriting asset for us. In other words, the F.A.M.I.L.Y (Focus/Agile/Mind/In-touch/Learn/You) culture.

公司宗旨

悅聚、非凡(Connecting with Happiness)-玩家悅 聚、合作夥伴悅聚、員工悅聚。

公司文化-核心價值觀

我們堅信,認同並堅持共同追求公司遠景目標的 人們聚集在一起,創造人與人之間凝聚的力量, 是公司最為寶貴的,並值得不斷傳承的財富。即 F.A.M.I.L.Y(Focus/Agile/Mind/In-touch/Learn/ You)文化。

SUSTAINABLE DEVELOPMENT POLICY

We are a leading global online game publisher for China-based game developers, with fast-growing in-house development capabilities for mobile games. In recent years, we have strategically expanded our business focuses to develop and launch mobile games by enhancing in-house development capabilities. This has also reflected our commitment to sustainable development. We are committed to ensuring business continuity, while sparing no effort in integrating ESG principles into our business administrative practices, which has produced a positive impact on the environment and the entire community.

我們的可持續發展方針

我們是一家為中國的遊戲開發商提供服務的全球領 先網路遊戲發行商,擁有快速增長的手機遊戲自主 研發能力。近年,我們透過增強自主研發能力有策 略地擴大業務重點至開發及發佈手機遊戲。我們對 可持續發展的承諾亦可從中體現。我們致力確保業 務連續性,同時竭盡全力將環境、社會及管理原則 融入我們的業務管理方式,為環境以至整個社區帶 來正面影響。

環境、社會與管治報告(續)

The Board assumes overall responsibility for our ESG governance and reporting, and is also responsible for assessing and determining our management policies, strategies, related importance and objectives and explaining how they relate to the Company's business. As a responsible corporate citizen, the Group has formulated different policies on ESG and other issues to advance and manage matters relating to social responsibility, such as product responsibility, labor practices, environmental protection, health and safety, and supply chain management, so as to guide the Group's business partners in putting sustainable development into practice. The relevant policies and measures and our sustainable development performance in all respects can be found in the corresponding sections of this ESG report.

STAKEHOLDER COMMUNICATION

Our stakeholders mainly include employees, customers, suppliers, business partners, Shareholders, the government and, in a broad sense, the community. We are firmly convinced that our sustainable development benefits from the unremitting support and trust of stakeholders. We listen to the voices of stakeholders and respond to their needs through a range of communication channels such as meetings, interviews, hotlines, official websites, WeChat public accounts, emails, as well as communicate with our stakeholders via the publication of annual and interim results announcements, so as to maintain a close and harmonious relationship with them and accordingly achieve long-term success.

COMMITMENT TO CUSTOMERS

As a technology company, we strive to create value for customers by providing quality products and superior services. We offer services and products primarily relating to web and mobile games. In recent years, we have strategically expanded our business focuses to develop and launch mobile games by enhancing in-house development capabilities to capture the market opportunity from the fast-growing smartphone users, and our mobile games have immediately achieved considerable success in a number of regional markets. Since the beginning, we have established an integrated business model and the resulting synergies have further enhanced the overall performance of the Company. Our rich experience in web game publishing has enabled us to effectively identify key success drivers for mobile games and create game content that appeals to users.

集團董事會對我們的ESG管治和匯報承擔整體責 任,亦負責評估及釐定我們的管理方針、策略、相 關重要性及目標,並解釋它們如何與公司業務有關 連。作為負責任的企業公民,本集團就環境、社會 及管治等範疇制定了不同的政策,以推進及管理有 關社會責任方面的事宜,如產品責任、勞工慣例、 環境保護、健康及安全以及供應鏈管理等方面,以 指引本集團的業務合作夥伴將可持續發展付諸實 踐。有關政策及措施及我們於各方面的可持續發展 表現可參見本報告的相應章節。

與利益相關方溝通

我們的利益相關方主要包括僱員、客戶、供應商及 業務合作夥伴、股東、政府及更廣泛的社區。我們 堅信,我們的可持續發展得益於利益相關方的不懈 支持及信賴。我們設有廣泛的溝通渠道,如會議、 面談、熱線、官方網站、微信公眾號及電子郵件, 傾聽利益相關方的聲音,並對其需求作出回應,藉 此與他們維持密切、和諧的關係,並通過發佈年 度以及半年度業績公告與我們的利益相關方進行溝 通,從而實現長久成功。

對客戶的承諾

作為一間科技型企業,我們通過竭力提供優質產品 及優越服務為客戶創造價值。我們的服務及產品主 要包括網頁遊戲及手機遊戲。近年,我們透過增強 自主研發能力有策略地擴大業務重點至開發及發佈 手機遊戲,以抓住智能手機用戶快速增長帶來的市 場機遇,而我們的手機遊戲亦隨即在多個地區市場 取得了不俗的成績。自始,我們已建立一個綜合業 務模式,其產生的協同效益進一步提升了公司的整 體表現。我們從發行網頁遊戲所獲得的豐富經驗令 我們能夠有效地為手機遊戲識別關鍵的成功推動因 素,並製作對於用戶具有吸引力的遊戲內容。

環境、社會與管治報告(續)

We help China-based game developers penetrate into the international markets with one-stop solutions, including game redesign, optimization, marketing, distribution, monetization, payment support and other user-related services. With our deep understanding of the international markets, rich distribution experiences and proprietary technologies, we continuously provide solutions to game developing partners for them to reach and monetize their global user base, thereby bringing an extremely attractive value to them. When a game is launched, we will update and repair the system on a regular basis. We are committed to maintaining relationship with players by creating a highly-interactive and information-based online gaming community and organising a series of activities in and out of the game. In addition, we will collect player comments and suggestions through various means such as questionnaires, forums and customer services to improve the game and enhance the player experience. The Group strictly abides by national laws and regulations that are relevant to the business in developing products and providing services that have significant impact on the Group, as well as other laws and regulations relating to the health and safety of products and services provided, advertising, labelling and privacy matters and remedies, including but not limited to the Regulations on Internet Publishing, the Measures on Internet Information Services and the Measures for the Administration of Online Games.

The Group is committed to providing quality products and services and values customers' feedback. We require game masters to record and report every potential complaint, which will be followed up via an interview by our staff to properly collect player opinions for game improvement. To prevent inappropriate handling of complaints and recurring complaints from players, the Group keeps the staff responsible for the complaint informed of the complaint handling process and result, analyzes the reasons for complaint, and consults with relevant business departments.

During the period under review, the Group was not aware of any matter that had been in violation of laws and regulations in relation to the provision and use of the Group's products and services, including but not limited to matters concerning the health and safety of products and services, information and labels, marketing communications (including advertisement and promotion materials), property rights (including intellectual property rights), and privacy issues that have a significant impact on the Group.

我們以一站式解決方案(包括遊戲重新設計、優 化、營銷、發行、變現、付款支持及其他與用戶有 關的服務)幫助中國的遊戲開發商滲透國際市場。 憑藉對國際市場的深入瞭解、豐富的發行經驗及專 有的技術訣竅,我們源源不斷的提供讓遊戲開發商 夥伴能夠接觸全球用戶群及將用戶變現的解決方 案,從而為彼等帶來極具吸引力的價值。遊戲發佈 後,我們會定期進行系統更新及修復。我們致力於 通過打造高度互動及資訊化的網絡遊戲社區及組織 一系列遊戲內外的活動來維持我們與玩家的關係。 此外,我們亦會通過各種方式,如問卷調查、論壇 及客戶服務等收集玩家意見及建議以完善遊戲,提 升玩家體驗。集團嚴格遵守在開發產品與提供服務 方面與業務相關且對本集團有重大影響的國家法律 規章,與其他有關所提供的產品和服務的健康與安 全、廣告、標籤及私隱事宜以及補救方法的法律法 規的規定,包括但不限於《互聯網出版規定》、《互 聯網資訊服務辦法》、《網路遊戲管理辦法》。

集團致力提供優質產品與服務,高度重視客戶提出 的意見。我們要求客服人員接到可能存在的投訴 問題時,都必須記錄回饋,並由回訪的人員進行 溝通,以便於更好地收集玩家回饋來完善及改進遊 戲。為避免玩家投訴處理不恰當以及投訴中重複性 問題的出現,集團把整個投訴處理過程及結果同步 給本集團的相關人員,並針對投訴的原因進行分 析,再與相關的業務部門進行溝通。

於回顧期間內,本集團未曾接獲任何違反有關提 供及使用集團產品和服務方面的法律及法規(包括 但不限於產品和服務健康與安全、訊息及標籤、市 場推廣通訊(包括廣告及推銷)、產權(包括知識產 權))及私隱事宜並對本集團有重大影響的事件。

環境、社會與管治報告(續)

INTELLECTUAL PROPERTY

We are committed to protecting the achievements of our research and development team. To this end, we have established the Intellectual Property Management System under which standard work programs are formulated in respect of applying for and managing intellectual property rights and strengthening the protection of intellectual property and this can effectively protect the intangible assets of the Group. The Group's intellectual property included copyrights, trademarks, patents, trade secrets and other rights conferred by (i) the Patent Law of the People's Republic of China, (ii) the Trademark Law of the People's Republic of China, (iii) the Copyright Law of the People's Republic of China, (iv) the Measures for the Administration of Internet Domain Names in China, (v) the Measures for the Administration of Software Products, (vi) the Law of the People's Republic of China Against Unfair Competition and other applicable laws and regulations as well as other rights relating to the protection of games, software, designs, new technologies, techniques, etc.

We attach great importance to confidentiality in protecting intellectual property. All interested parties are prohibited to divulge or provide relevant information to others in the process of product development and creation. In accordance with the "Measures for the Administration of Content Self-review by Internet Cultural Business Entities", our self-inspection system will ensure that all products comply with our intellectual property measures and relevant regulations.

HEALTHY NETWORK

As a company with a focus on the internet business, we have the responsibility to uphold and strengthen a healthy network culture.

For our game development business, we strictly abide by the Measures for the Administration of Online Games and other applicable laws and regulations. In view of this, we have built a professional content review team. There are professionally qualified content reviewers on the team responsible for close scrutiny to ensure that the game elements, including names, backgrounds, sound effects, maps, scenes, character designs, building designs, prop designs and features, do not contain any legally prohibited or improper wordings and materials, neither should any pornography, gambling, violence and abetment be promoted. Therefore, the Group strictly complies with the legal requirements on healthy gaming of the countries where it operates.

知識產權

我們致力保護研發團隊的成果。為此,我們確立了 《知識產權管理制度》,通過制定標準工作程式申請 及管理知識產權並加強知識產權保護,此舉可有力 保障本集團的無形財產。本集團的知識產權包括版 權、商標、專利、商業秘密及(i)《中華人民共和國 專利法》;(ii)《中華人民共和國商標法》;(iii)《中華人 民共和國著作權法》;(iv)《中國互聯網絡功能變數 名稱管理辦法》;(v)《軟件產品管理辦法》;(vi)《中華 人民共和國反不正當競爭法》及其他適用法律規章 所賦予的其他權利,保障遊戲、軟件、設計、新技 術、技能及其他相關權利。

我們高度重視保密以保護知識產權。所有相關方一 概不得在產品開發及創造過程中將相關資料透露或 提供予他人。根據《網絡文化經營單位內容自審管 理辦法》,我們的自檢系統將確保所有產品符合我 們的知識產權措施及相關規例。

健康網絡

作為一間專注於互聯網業務的企業,我們有責任堅 持及強化健康的網絡文化。

針對遊戲開發業務,我們嚴格遵守《網絡遊戲管理 辦法》及其他適用法律規章。有鑒於此,我們已建 立一支專業的內容審查團隊。團隊中具有專業資格 的內容審查員負責密切審查,以確保遊戲元素(包 括名稱、背景、音效、地圖、場景、角色設計、建 築物設計、道具設計及功能)不含任何法律禁止的 或有失妥當的文字及材料,亦不提倡色情、賭博、 暴力或教唆犯罪。因此集團會根據不同國家的法律 要求,嚴格遵循運營所在地及應用商店中有關健康 遊戲的法律規定。

環境、社會與管治報告(續)

DATA SECURITY

Given the nature of our business, we need to collect and process a large amount of player data. Therefore, we are exposed to the risks of cyber attacks and the loss and leakage of data. To minimize these risks, we have adopted a series of data security measures, such as access authorization, password and data transmission encryption, so that data are stored in at least two different locations on our internal server and further backup is implemented in our disaster recovery system. The Group has taken a number of measures to ensure network system security and stable operation, in terms of network, system and application.

PRIVACY PROTECTION

Ensuring data privacy is crucial to protect our business and maintain our relationship with customers and business partners. Employees must sign a non-disclosure agreement to confirm their responsibility for keeping the data (including sales data, business plans, customer's personal data, and intellectual property) in strict confidence. We have set access authorization with respect to the customer's personal data, restricting employees from accessing sensitive data only unless otherwise as required. We have also devised specific procedures to collect and process user data to ensure that our products and services are in compliance with applicable legal requirements.

ADVERTISING LABELS

We ensure the compliance, accuracy and authenticity of all published materials, including press releases, labels, articles, and web contents, in accordance with the Advertising Law of the PRC, and through the review of the legal department.

數據安全

鑒於我們的業務性質需要收集及處理玩家的大量數 據。因此,我們存在受到網絡攻擊及數據丟失及洩 露的風險。為最大程度降低該等風險,我們採取一 系列的數據安全措施,例如訪問權限控制、對密碼 及數據傳輸進行加密,數據至少保存在我們內部服 務器上兩個不同位置等措施,並在我們的災難恢復 系統中作進一步備份。本集團已採用了多項技術策 略確保整個網絡系統安全,在物理、網絡、系統及 應用四個層面全面確保網絡系統運作正常穩定。

私隱保護

確保資料私隱對保護我們的業務及維持我們與客戶 及業務合作夥伴的關係尤為必要。僱員須簽訂保密 協議,以確認彼等對資料(包括銷售數據、業務計 劃、客戶個人資料及知識產權)予以保密之責任。 我們已就客戶個人資料設定訪問權限控制,限制僱 員訪問敏感資料,具體按需而定。我們亦制訂具體 程序以收集及處理用戶數據資料,確保我們的產品 和服務符合適用法律規定。

廣告標籤

我們根據《中華人民共和國廣告法》的規定,並且 經由法務部門的審核以確保所有發佈材料(如新聞 稿、標籤、文章及網頁內容)的合規性、準確性及 真實性。

環境、社會與管治報告(續)

COMMITMENT TO EMPLOYEES Equal opportunity

The Group always upholds the principles of fairness, openness and justice, and applies these principles in the recruitment, assessment, promotion, development and welfare of its staff. The Group will not allow any employment discrimination arising out of race, color, nationality, language, age, gender, disability, religious belief, marital status, pregnancy, etc., and related systems are formulated in internal documents such as the code of conduct.

Staff development

The Group adheres to the cultural core values of F.A.M.I.L.Y., and has employees kept informed of the latest industry information and new job skills for them to realize their full potential through a variety of training formats and courses.

我們對員工的承諾 平等機會

本集團一直秉持公平、公開、公正的原則,在招 聘、考核、晉升、員工發展、福利遵循此原則實 行。集團不因任何種族、膚色、國籍、語言、年 齡、性別、殘疾、信仰、婚姻狀況、懷孕等情況而 產生就業歧視。並將相關制度列入行為守則等內部 文件。

員工發展

本集團秉持F.A.M.I.L.Y的文化核心價值觀,透過多 元化的培訓形式及課程,讓僱員瞭解最新的行業資 訊、新工作技能、讓僱員充分發揮自身潛能。

環境、社會與管治報告(續)

In order to meet the developmental needs of employees in different positions, the Group provides our employees with management, expertise and general knowledge learning channels, and organizes various sharing and exchange programmes at the company level. We aim to create a learning-oriented corporate culture, and thus encourage employees to excel and pursue their career path development. Currently, the training types received by employees include, but are not limited to, conventional classroom training, on-the-job coaching and experience sharing sessions, such as induction training, orientation, mini talks, etc.

本集團還根據不同崗位員工的發展需求,為員工提 供不同類型的學習渠道,並在公司層面積極組織各 類分享交流項目,努力營造學習型組織文化氛圍, 促進員工技能提升和職業發展。目前僱員接受的 培訓形式包括但不僅限於傳統的課堂培訓、在崗指 導、經驗分享會,如入職培訓、新手村指導、微講 堂等。

環境、社會與管治報告(續)

In 2020, for example, the company organized experience sharing meetings – mini talks, which were held in the form of "online classes" by the corporate executives. As a multinational internet enterprise, the Group perceives the impact of the epidemic around the world more comprehensively. Through data tracking spanning about half a year, samples of user data from all over the world and interviews with gaming companies from different countries, the impacts of the epidemic on the game industry were summarized then shared among employees participating in the training.

Through continuous optimization and improvement of the performance management system, the Group conducts regular and timely performance evaluation of employees and maintains an annual comprehensive performance evaluation. The main business units conduct monthly performance appraisal. After each appraisal, employees are required to review their performance in their daily work and set out new achievement targets with their supervisors. Through the two-way communication mechanism, we can receive employee's feedback and suggestions in a timely manner to facilitate the growth of both parties.

The promotion of employees is determined based on the results of their performance evaluation and potentials. The Group has also put in place promotion mechanisms for employees. Employees may apply for competitive promotion provided that they meet the relevant years of service and performance requirements and that they have no records of misconduct and are in line with the Group's corporate culture and values. This will accordingly stimulate the initiative of excellent employees, which is conducive to selecting and cultivating talents and maintaining the sustainability of talents.

Caring for talents

The Group has always regarded employees as the key to sustainable business development. Accordingly, the Group provides competitive remuneration packages and benefits to employees and organises diversified staff activities.

例如在 2020 年公司組織的經驗分享會-微講堂, 通過「網課」的方式舉行,由企業高管主講。本集團 作為一家跨國互聯網企業,可以更全面地感知全球 各地因疫情造成的影響。通過跨度約半年時間數據 跟蹤,採樣世界各地用戶數據,不同國家遊戲企業 訪問,總結出疫情對遊戲行業影響,並向參與培訓 的員工分享討論。

本集團通過不斷優化完善績效管理制度,定期對僱 員進行全面及時效性的績效考核,維持每年一次的 全面性績效評估。主要業務部門開展月度績效考 核,僱員在每次考核評估之後,需與其上級主管一 起回顧工作不足之處及制定新的績效目標。通過雙 向溝通機制,及時聆聽僱員的回饋及建議,助力雙 方成長。

在僱員晉升機制上面,本集團根據其績效評估結果 決定。本集團同時還為員工提供內部競爭晉升機 制,前提是僱員符合有關服務年期及績效要求,同 時沒有任何不當行為記錄且符合集團企業文化何價 值觀下,僱員可以提出申請競爭晉升的機會,從而 激發優秀員工的主動性,選撥培養優秀人才,維持 人才的可持續發展。

關懷人才

本集團一直視僱員為持續業務發展的關鍵,因此為 僱員提供具競爭力的薪酬待遇及福利,為員工提供 多元化的員工活動。

環境、社會與管治報告(續)

The Group strictly abides by labor laws and regulations of the PRC and other laws and regulations regarding compensation and dismissal, recruitment and promotion, working hours, rest periods, equal opportunities, diversity, anti-discrimination and other benefits and welfare, including the Labor Law of the People's Republic of China, the Labor Contract Law of the People's Republic of China, the Social Insurance Law of the People's Republic of China, the Regulations on the Administration of Housing Provident Funds and Employee Paid Annual Leave Regulations, to provide domestic employees with social insurance covering pension insurance, unemployment insurance, medical insurance, maternity insurance, work-related injury insurance, critical illness insurance and supplementary medical insurance as well as housing provident funds. In addition to public and statutory holidays, employees are entitled to paid leaves, such as marriage leave, pregnancy check-up leave, maternity leave, paternity leave, annual leave, bereavement leave, sick leave and bonus leave, and other benefits including meal allowances, attendance awards, festive gifts, charity soft drinks and birthday gift.

本集團嚴格遵守國家之勞動法規,有關薪酬及解 僱、招聘及晉升、工作時數、假期、平等機會、多 元化、反歧視以及其他待遇及福利的法律法規,包 括《中華人民共和國勞動法》、《中華人民共和國勞 動合同法》、《中華人民共和國社會保險法》、《住房 公積金管理條例》、《企業職工帶薪年休假》,為內 地僱員提供涵蓋養老保險、失業保險、醫療保險、 生育保險、及工傷保險、大病醫療保險、補充醫療 保險的社會保險,以及住房公積金。除了公眾假期 及法定節日假期外,僱員還可享有薪假期如婚假、 孕期檢查假、產假、陪產假、年休假、喪假、有薪 病假、司齡假等福利。其他福利包括:膳食津貼、 出勤獎勵、節日禮物、公益飲品、生日賀禮等。

Work-life balance

We attach great importance to the healthy development of employees' physical and mental health. We enrich employee's spare time life by organising various recreational activities, such as badminton, table tennis and basketball games, monthly birthday parties, festival events, Children's Day on the 1st of June, Thanksgiving Day, Woman's Day on the 8th of March, Halloween and annual dinner. These recreational activities have greatly enriched the spiritual and cultural life of employees and enhanced their cohesiveness and teamwork.

工作與生活平衡

我們非常重視僱員身心健康發展,透過組織不同的 文娛休閒活動,豐富僱員業餘生活,例如羽毛球、 乒乓球、籃球等康樂活動,月度生日會、節日活 動、六一兒童家庭日、感恩節、三八婦女節、萬聖 節、年會等活動,透過這些文娛活動極大地豐富了 員工的精神文化生活,增強了員工的凝聚力和團隊 協作能力。

環境、社會與管治報告(續)

1. 聖誕節活動Christmas Activity

環境、社會與管治報告(續)

Attention to two-way communication

We strive to establish sound and humanized communication channels, formal and informal, for our employees. Currently, the various communication channels established include conferences, work reports, WeChat, Enterprise WeChat, instant messaging software (QQ), emails and performance appraisal interviews. Employees may express their ideas and views through these communication channels.

Occupational health and safety

The Group is committed to providing employees with a safe, healthy and comfortable working environment. The Group conducts unified guidance and supervision of the safe operation of the Group companies in accordance with China's laws and regulations on occupational health and safety and industry standards. The Group grants badges to all employees and only employees with badges can enter the office area. Non-company personnel are required to register identity information at the front desk and enter with a temporary visitor card. To solve the pollution problem arising from the newly decorated office and to ease employees' concerns on the potential negative impacts on their health from the renovation, the Group is equipped with high-efficiency air purifiers and protective masks in the office area. We also plant and place large quantities of green plants throughout the office area, taking care of the health and safety of employees with practical actions. A complete set of fire-fighting facilities that meet fire protection standards are placed at a prominent position in the office. Clear guidelines for emergency exit routes are available in the office and fire inspections are conducted to prevent from potential fire hazards.

Strictly abiding by laws and regulations concerning the provision of a safe working environment and the protection of employees from occupational hazards, such as the Law of the PRC on the Prevention and Control of Occupational Diseases, the Group provides annual physical examination for employees and routinely publicizes the knowledge of occupational diseases through different channels, to protect the health and related rights and interests of employees.

As of December 31, 2020, no incidence of any work-related injury or fatality was identified by the Group.

重視雙向溝通

我們不懈努力為員工建立完善的正式及非正式的, 且具有人性化的溝通渠道。目前設立的多種溝通渠 道包括:會議、工作報告、微信、企業微信、即時 溝通軟體(QQ)、電子郵件、績效面談等溝通渠道。 員工可通過這些溝通渠道發表意見及看法。

職業健康與安全

本集團致力為僱員提供一個安全、健康、和舒適的 工作環境。本集團依照中國關於職業健康與安全的 法律法規及行業標準,對集團公司的安全經營進行 統一指導和監督。本集團員工均配置胸卡,員工只 可憑胸卡進入辦公區域,非公司人員需在前台登記 身份證明資訊,憑訪臨時訪客卡方可進入。由於辦 公環境新裝修問題受到僱員的普遍關注,為免除僱 員擔憂,本集團統一在辦公區域配備高效能的空氣 淨化器、派發防護口罩等設備,在辦公區域各處種 植及擺放大量綠色植物,用實際行動關愛僱員的健 康與安全。我們亦在辦公場所顯眼位置配備齊全且 符合消防標準的消防設施,在辦公室設置明顯安全 出口指引,並定期進行消防檢查排除消防隱患。

本集團嚴格遵守有關提供安全工作環境及保障僱員 避免職業性危害的法律法規,如《中華人民共和國 職業病防治法》,為僱員提供年度身體檢查,日常 透過不同的途徑宣傳職業病防治知識,保護僱員的 健康及相關權益。

截止至二零二零年十二月三十一日,本集團未發生 過任何工傷或因工死亡事件。

環境、社會與管治報告(續)

Since the beginning of 2020, in response to the COVID-19 outbreak, safety and health of the employees are the prime concern. A number of strict protective measures have been imposed amid the period by the Group, such as comprehensive disinfection in public facilities with a higher visitor frequency, further enhancing the ventilation in the office areas, and providing personal protective hygiene products to all employees. To strengthen the control even further, all activities surrounding the office area are monitored, with tightening visitor and vehicle controls, to lower the chance of office infection, hence maintaining a safe environment for all employees.

Labor standards

Strictly abiding by laws and regulations concerning the prevention of child labor or forced labor, such as the Labor Law of the People's Republic of China, the Labor Contract Law of the People's Republic of China, the Law of the People's Republic of China on the Protection of Minors and other laws and regulations, the Group prohibits the employment of child labor and forced labor. Upon the joining of an employee, the Group strictly implements the relevant processes of employment, so that the employee's data file, including identity and age, will be reviewed thoroughly to prevent the occurrence of child labor. During the review, any child or forged identity data found will be handled in accordance with the law. The Group strictly abides by relevant laws and regulations of the jurisdiction in the place of operation, signing labor contracts with employees according to law and pays social insurance and protects the personal privacy of employees in strict accordance with provisions.

In addition, our staff handbook and labor contracts have set out details concerning the arrangements about working hours, overtime, leave and dismissal. The Group's implementations are carried out in a unified manner according to standard working hours to ensure that the working hours of employees are reasonable. Employees are not forced to work and, if overtime is required, they need to obtain approval in advance and receive paid leave afterwards. In the case of forced labor, employees have the right to appeal to the Group's Personnel Administration Center.

As at December 31, 2020, the Group had not identified any employment of child labor and forced labor and no labor dispute had happened.

從二零二零年初起,為了應對COVID-19的爆發, 員工的安全和健康是首要關注的問題。在此期間, 集團實施了幾項嚴格的防護措施,如對公共設施進 行更頻繁的全面消毒,進一步加強辦公區域的通 風,為全體員工提供個人防護衛生用品等。為了進 一步加強控制,對辦公區域周圍的所有活動進行監 控,並加強對訪客和車輛的監管,以降低辦公室感 染的機會,從而為所有員工保持一個安全的環境。

勞動準則

本集團嚴格遵守《中華人民共和國勞動法》、《中華 人民共和國勞動合同法》、《中華人民共和國未成 年人保護法》等有關防止童工或強制勞工的法律法 規,禁止僱傭童工及強制勞動。在員工入職時嚴格 執行入職相關流程,詳細審查其入職資料,包括身 份和年齡,以防止發生僱傭童工的情況。審查期 間,倘若發現童工身份及偽造身份資料,將依據法 律處理。本集團嚴格遵守運營地相關法律法規,依 法與僱員簽訂勞動合同,嚴格按照規定繳納社會保 險,保護員工個人隱私。

此外,我們僱員手冊及勞動合同詳細載列了有關工 作時間、加班、休假及解僱方面的安排。集團內部 統一按標準工作時間執行,保障僱員合理的工作時 間。不強制僱員勞動,如需加班,僱員需得到事先 批准,之後將獲得帶薪休假。在出現強制勞動情況 下,員工有權利向本集團人事行政中心進行申訴。

截止至二零二零年十二月三十一日,集團未發現有 聘用童工及強制勞工的情況,未有出現勞動糾紛之 情況。

環境、社會與管治報告(續)

COMMITMENT TO THE COMMUNITY

The Group always attaches great importance to the establishment and maintenance of harmonious relations with the community and society. The Group's priorities include, but are not limited to, recruiting and cultivating outstanding university graduates in the place of operation to take up positions dedicated to game development and operations. In 2020, the Group eagerly visited higher education schools in Guangzhou to conduct campus presentations and recruitment activities and received enthusiastic responses. Promoting the employment of university students through such activities is an effective measure for achieving economic development and social harmony.

對社區的承諾

本集團一直非常重視與社區、社會之間的和諧關係 建立及維護。本集團優先但不限於在辦公駐地招聘 並培養優秀的大學畢業生致力於遊戲研發、運營等 崗位。二零二零年度本集團積極到廣州區域內高等 教育學校進行校園宣講及招聘活動,迴響熱烈。通 過此類活動促進大學生就業,對於經濟發展還是社 會和諧都是有效的舉措。

校園招聘會 On-campus Job Fair

環境、社會與管治報告(續)

In respect of the requests by relevant administrative departments in accordance with laws and regulations for the supervision and inspection on the Company, the Group actively cooperates with them to ensure the fulfilment of its own social responsibilities and obligations.

對於相關機關部門根據法律法規要求提出的對公司 的監督和檢查,本集團都予以積極配合,確保履行 自身社會責任與義務。

公益慈善

自COVID-19疫情於二零二零年初爆發以來,相關 防控工作在中國乃至全世界範圍持續進行著。為 了承擔我們的社會責任並提供人道主義支援,本集 團迅速啟動了一項援助計劃,以應對COVID-19疫 情。根據該計劃,本集團動員其全球子公司採購醫 用口罩,防護服和其他醫療用品,並將其捐贈給中 國一線醫療專業人員和機構。

CHARITY

Since COVID-19 Outbreak in early 2020, a series of precautionary and control measures have been and continued to be implemented across China and other countries in the world. To shoulder our social responsibilities and offer humanitarian support, the Group has promptly launched an assistance scheme in response to the COVID-19 Outbreak. Under this scheme, the Group has mobilised its global subsidiaries to procure medical masks, protective gowns and other medical supplies and has donated the same to front-line medical professionals and institutions in China.

環境、社會與管治報告(續)

• 1. 對廣州市部分政府機構的防疫捐贈Donation of epidemic prevention equipment to Guangzhou government authorities.
• 1. 對廣州市部分醫院的防疫捐贈Donation of epidemic prevention equipment to Guangzhou medical institutions.
• 1. 對廣州市部分學校的防疫捐贈Donation of epidemic prevention equipment to Guangzhou educational institutes.
• 4.、5. 對部分遊戲玩家的防疫捐贈Donation of epidemic prevention equipment to our players.
• 6.、7. 向集團員工派發防疫物資Hand out epidemic prevention equipment to personnel of Digital Hollywood.
• 1. 來自巴塞羅那加泰羅尼亞政府發佈的Twitter The Tweet from the Government of Catalonia in Barcelona.
• 1. 來自巴塞羅那加泰羅尼亞政府主席的感謝信The gratitude letter from the President of the Government of Catalonia.

• 來自巴塞羅那加泰羅尼亞商務大臣的感謝信The gratitude letter from the Minister of Business and Knowledge of the Government of Catalonia.

環境、社會與管治報告(續)

ANTI-CORRUPTION

The Group's commitment to combating unethical business practices, including bribery, fraud, corruption, extortion and money laundering, can be reflected in our Anti-fraud Management System. Employees should report to us by phone or email if there is any suspected misconduct. The relevant departments of the Group will seriously investigate the report based on our internal protocols and make rectification in a professional and timely manner. Divulgement of any relevant information is strictly prohibited and offenders will be handled in a solemn manner. A code of ethics and conduct will also be included in the staff handbook. We will do our utmost to ensure that employees pay attention to the code and make it part of our daily activities, so as to create a corporate culture that upholds righteousness and integrity. The Group strictly abides by the Law of the People's Republic of China against Money Laundering. We have not experienced any confirmed matters or open legal proceedings involving the Group or its employees over extortion, bribery, fraud, and money laundering during FY2020.

COMMITMENT TO THE SUPPLY CHAIN

As a responsible company, we attach great importance to environmental and social factors and are committed to sustainable operations. Similarly, we also expect our suppliers to be self-disciplined, thereby making a positive influence on the supply chain. We have signed a code of conduct with suppliers that requires them to meet the legal requirements concerning occupational health and safety, anti-discrimination, environmental protection, anti-corruption and anti-fraud.

We conduct preliminary assessment of quality and pricing for introducing new suppliers. In purchasing important materials, such as servers, computers and printers, qualified new suppliers will be recorded on a supplier list. Under normal circumstances, the list should have at least three different suppliers in each category so as to disperse the risk arising from any of the suppliers due to disqualification or our termination of cooperation. For the existing suppliers, we conduct an annual assessment to maintain the most desirable list of suppliers. We will review the prices, product quality, payment terms, delivery and after-sales services of product suppliers as well as the service quality, staff qualification and sense of cooperation of service providers.

反貪腐

本集團對打擊不道德商業行為(包括賄賂、欺詐、 腐敗、敲詐勒索及洗錢)的承諾可體現在我們的《反 舞弊管理制度》當中。如有任何可疑不當行為,僱 員應通過電話或郵件向我們舉報。本集團有關部門 將根據我們的內部規章認真調查有關舉報,並以專 業及時的方式糾正。嚴禁洩露一切相關信息,違規 者則會嚴肅處理。除此以外,道德行為規範亦會載 入僱員手冊中。我們將竭盡全力確保僱員關注該規 範,並使之成為我們日常活動的一部份,從而打造 一個以正直與誠信為先的企業文化。本集團嚴格遵 守《中華人民共和國反洗錢法》,於二零二零財政年 度內,我們沒有出現任何有關集團或僱員的有關勒 索、賄賂、欺詐、敲詐及洗黑錢的已確認事件或公 開法律訴訟。

對供應鏈的承諾

作為一間負責任的企業,我們高度重視環境及社會 因素,致力於可持續營運。同樣,我們亦期望我們 的供應商能夠自律,從而為供應鏈帶來正面影響。 我們與供應商簽署行為守則,即要求供應商須達到 有關職業健康及安全、反歧視、環境保護及反貪腐 及反詐騙方面的法律規定。

我們就引入新供應商對供應商的品質及價格展開初 步評估。就採購重要材料(如伺服器、計算機及列 印機)而言,評估合格的新供應商將被記錄於供應 商入冊名單。我們僅會與名單上的供應商合作。一 般情況下,該名單應當至少包括各類別中的至少三 個不同的供應商,以分散其中某一個供應商因不合 格或我們終止合作所帶來的風險。就現有供應商而 言,我們進行一年一度的評估,以維持最為理想的 供應商名單。我們將評核產品供應商的價格、產品 品質、支付條款、交付及售後服務,以及服務提供 商的服務品質、員工質素及合作性。

環境、社會與管治報告(續)

COMMITMENT TO THE ENVIRONMENT Emissions reduction

The Group strictly abides by the relevant laws and regulations, such as the Law of the People's Republic of China on Environmental Protection and the Law of the People's Republic of China on Energy Conservation, and vigorously advocates green office. Neither any significant exhaust emissions and significant direct greenhouse gas emissions nor any water and land pollution and hazardous and non-hazardous waste generation and the like have been identified in the daily business operations of the Group, and our business will not have any significant impact on the environment and natural resources. The Group's products are online games and do not need to consume packaging materials. The main consumption of resources is concentrated in the electricity and water consumed in the Group's operating premises and diesel oil used by the Company's vehicles. The Group spares no effort in environmental protection. The Group adopts the low-carbon office concept in reducing emissions, uses various measures including encouraging employees to use public transport instead of private cars to reduce emissions, and smoking is strictly prohibited in all parts of the office premises. Due to these measures, the Group has been maintaining a relatively low level of emissions, and such emission level does not pose significant environmental and social impacts.

As a internet enterprise, the Group identified the two major sources of waste: scrapped IT equipment and printing consumables. Therefore, the Group has adopted corresponding measures to reduce resource consumption, encourage recycling and reduce waste generation.For scrapped IT equipment, including hosts, monitors and other equipment, the Group will deal with it accordingly according to the situation of the equipment.First,they are sorted according to the Company's operational needs and reusable parts are reserved for recycling and reuse purposes. As such, the actual life cycle of electronic devices can be extended and the aim of reducing the environmental hazard arising from electronic product manufacturing can be achieved. Lastly, for dysfunctional equipment, the Group will hire an electronic equipment recycling agency to recycle it. By making rational use of such electronic equipment recycled through these two major ways, the equipment can also be reused, thereby reducing environmental pollution caused by electronic waste. For printing consumables, the Group has engaged a printer maintenance service provider to handle maintenance and repair of printers at several offices to avoid the increased use of printing consumables due to the aging and failure of printers. Going paperless in all work processes is encouraged in the Group, with aims to reduce the use of paper and printing consumables.

During the year ended 31 December 2020, the papers recycled by the Group amounted to approximately 165 kg.

對環境的承諾 減少排放

本集團嚴格遵守《中華人民共和國環境保護法》和 《中華人民共和國節約能源法》等國家相關法律法 規,大力倡導綠色辦公,本集團的日常業務不存在 重大的廢氣及重大直接溫室氣體排放,向水及土地 污染、有害及無害廢棄物的產生等情況,對環境及 天然資源亦不會造成任何重大影響。本集團產品均 為線上遊戲產品,不需要消耗包裝物料。資源主要 的消耗集中在本集團運營場所消耗的電力、用水、 公司車輛用油。本集團在環境保護方面,我們不遺 餘力,本集團採用低碳辦公室概念,運用多種措施 減少我們的排放,包括:鼓勵僱員乘坐公共交通工 具以替代私家車,減少廢氣排放;辦公區域全面禁 止吸菸。由於採取了該等措施,本集團一直保持相 對較低的排放水平,且該排放水平並不會對環境及 社會造成重大影響。

作為一家互聯網公司,集團識別出自身兩大產生廢 棄物的來源:報廢電子設備及打印耗材。因此,集 團採取了相應的措施,減少資源耗用和鼓勵循環再 用,降低廢棄物的產生。對於自身的報廢電子設 備,包括主機、顯示器及其他設備,集團會根據設 備的情況進行相應處理。首先,結合公司運營需求 進行分揀,將其中可重複使用部份進行回收利用。 從而達到延長電子設備實際使用週期,降低電子產 品製造對環境危害的目的。最後,不能繼續正常運 作的設備,集團會聘請電子設備回收機構進行回收 處理。通過合理地利用這兩種途徑回收電子設備, 做到物盡其用,減少了電子廢棄物對環境的污染。 而對於打印耗材,集團聘用了打印機維護服務供應 商負責維護及修理部分辦公場所的打印機,避免因 打印機的老化和故障導致耗材使用的增加。集團一 直鼓勵在辦公過程中實現無紙化,減少紙張及打印 耗材,從源頭降低這類型廢棄物的產生。

截止2020年12月31日止年度,本集團回收了約 165公斤的紙張。

70 Digital Hollywood Interactive Limited Annual Report 2020

環境、社會與管治報告(續)

Resource efficiency

The Group advocates the concept of environmental protection, energy conservation and low carbon office. To save natural resources, we have taken the following actions:

• Emails, instant communication tools and WeChat at Work are used and employees are not encouraged to print paper. Only necessary documents are printed and double-sided printing and paper recycling are being promoted. The Group encourages paperless processes in work attendance approval, application for using conference rooms and internal announcements, etc.
• For used materials in offline activities, recyclable materials are used and used materials are recycled as far as possible to comply with the principle of recycling.
• Priority is given to energy-saving lighting and other energy-saving appliances in purchasing to reduce electricity consumption.
• Air conditioners are turned off during non-working hours or when the office occupancy rate is low. In non-summer seasons like winter, the use of air conditioners is suspended to reduce exhaust gas and electricity consumption. New office premises are equipped with transparent glass to increase the transparency and lighting, thus reducing the need for office lights and reducing energy consumption.
• Signs reminding employees to save water are posted in toilets to enhance employees' awareness of water conservation.

Due to the above measures, the Group has been maintaining a relatively low level of electricity and water consumptions, and such consumption level does not pose significant environmental and social impacts.

資源效率

本集團提倡環保節能,低碳辦公的理念,為節省自 然資源,我們採取了下列舉措:

• 採用電子郵件、即時溝通工具、企業微信辦 公、不鼓勵員工列印紙張。必要的文檔列印, 本集團提倡雙面列印,以及紙張的回收再用。 本集團鼓勵無紙化流程,如考勤審批、會議室 使用申請、內部公告發佈等。
• 對於線下活動使用後的物料,遵循循環利用的 原則,盡量採用可循環利用的物料及回收二次 使用;
• 本集團採購時優先考慮節能電燈及其他節能型 的電器,盡量降低用電量;
• 空調在非工作時間段或辦公室佔用率較低時不 開放,在非炎日季節,例如冬季暫停空調使 用,減少廢氣及用電消耗,新辦公場所安裝透 明玻璃,增加透光度及照明,從而減少對辦公 用燈的需求,減低耗能。
• 洗手間張貼提醒僱員節約用水的標誌,提高僱 員節約用水意識。

由於採取了上述措施,本集團一直保持相對較低的 耗電量及耗水量水平,且該耗量水平並不會對環境 及社會造成重大影響。

環境、社會與管治報告(續)

COMPREHENSIVE PERFORMANCE

Prevention of bribery and corruption

綜合績效表現

防止賄賂及防止貪污

Indicators	指標	2020 二零二零年	20191 二零一九年1
Cases involving bribery, extortion, fraud and money laundering (number of cases)	涉及關於賄賂、勒索、欺詐及 洗黑錢的案件(宗)	0	0

Product and service quality

產品及服務質量

Service performance:

服務表現:

Indicators	指標	2020 二零二零年	2019 二零一九年
Legal cases in which products and services are
suspected of safety and health issues (number of case)	產品及服務涉嫌安全與健康的 訴訟案件(宗)	0	0
Cases in which products and services are suspected of infringing intellectual	產品及服務涉嫌侵犯知識產權的
property rights (number of case) Complaints due to divulgement of	案件數目(宗)	0	0
customer information (number of complaint) Number of products and service	因洩露客戶信息而遭到投訴件數(例)	0 Approximately	0 Approximately
related complaints received Address players' questions (incidence)	接獲關於產品及服務的投訴數目 解答玩家疑問(次)	22,200 約22,200	36,280 約36,280

Emissions2

Air pollutant emissions (office vehicles)³:

排放物²

大氣污染物排放(辦公用車)³ :

Indicators	指標	2020 二零二零年	2019 二零一九年
Nitrogen oxide (NOx) (kilogram)	氮氧化物(千克)	1.60	1.28
Sulphur oxides (SOx) (kilogram)	硫氧化物(千克)	0.07	0.05

¹ The disclosure of data for the year of 2019 was mainly aimed to meet the reporting principles of consistency in the Environmental, Social and Governance Reporting Guide in Appendix 27 of the Listing Rules, and the related disclosures in the 2020 ESG report shall prevail.

² The Group's business scope involves a small amount of paper and e-waste emissions. As the data collection system is still in the process of being established, the related data is not disclosed in the ESG report.

³ The calculation method and the emission factor of air pollutant emissions were established with reference to the Technical Guide for Air Pollutant Emission Inventory for Road Vehicles (Trial) issued by the Ministry of Ecology and Environment of the PRC. The scope of calculation of air pollutant emissions in 2019 includes 2 private car owned and used by the Group, and the scope of calculation of air pollutant emissions in 2020 includes 2 private cars owned and used by the Group.

¹ 二零一九年度數據的披露主要為滿足附錄二十七 《環境、社會及管治報告指引》中的一致性的匯報 原則,且相關披露數據以二零二零年度ESG報告 為準。

² 集團的業務範圍涉及少量紙張及電子廢棄物排放, 由於數據收集系統仍在努力建立中,於ESG報告 未能作出披露。

³ 此大氣污染物排放的計算方法及相關系數計算乃 根據中華人民共和國生態環境部發佈的《道路機動 車大氣污染物排放清單編制技術指南(試行)》所制 訂。二零一九年年空氣污染物排放的計算範圍為集 團自用的2輛私家車,二零二零年年空氣污染物排 放的計算範圍為集團自用的2輛私家車。

環境、社會與管治報告(續)

Greenhouse gas emissions:

溫室氣體排放:

		2020	2019
Indicators	指標	二零二零年	二零一九年
Direct greenhouse gas emission4:	溫室氣體直接排放量4 :
Office vehicles
(kilograms of carbon dioxide equivalent)	辦公用車(千克二氧化碳當量)	10,393.85	8,324.23
Average total direct greenhouse gas emissions
by each employee5 (kilograms of	每位僱員5平均溫室氣體直接排放總量
carbon dioxide equivalent per person)	(千克二氧化碳當量╱人)	59.39	44.51
Indirect greenhouse gas emission6:	溫室氣體間接排放量6 :
Purchased electricity
(kilograms of carbon dioxide)	外購電力(千克二氧化碳)	175,655.11	145,205.08
Average total indirect greenhouse gas
emissions by each employee	每位僱員平均溫室氣體間接排放總量
(kilograms of carbon dioxide per person)	(千克二氧化碳╱人)	1,003.74	776.50

• ⁵ The number of employees was derived from the total number of employees of the Group as at December 31, 2020 and December 31, 2019, respectively.
• ⁶ The scope of calculation of indirect greenhouse gas emissions includes the indirect greenhouse gas emissions of our business generated by the use of purchased electricity. The calculation method and the calculation of emission factor of emission were established with reference to the "Notice on Making 2018 Annual Carbon Emission Report and Verification and Emission Monitoring Plan" – the 2015 national grid average emission factor in the 2018 carbon emission supplementary data accounting report template issued by the Ministry of Ecology and Environment of the PRC. In order to improve the comparability of the data, the data for 2019 in this report have been revised to adopt the same calculation factors as those for 2020.
• ⁴ 此溫室氣體直接排放量計算範圍為集團自有的車輛 使用所導致的直接溫室氣體排放,其計算方法及相 關的排放系數乃根據中華人民共和國國家發展和改 革委員會發佈的《陸上交通運輸企業溫室氣體排放 核算方法與報告指南(試行)》所制訂。
• ⁵ 僱員人數數據分別使用截至二零二零年十二月三十 一日與截至二零一九年十二月三十一日的集團總僱 員人數。
• ⁶ 此溫室氣體間接排放量的計算範圍包括業務因外購 電力使用所導致的間接溫室氣體排放,其計算方法 及相關排放系數計算乃參考中華人民共和國參考 中華人民共和國國家生態環境部發佈的《關於做好 2018年度碳排放報告與核查及排放監測計劃制定 工作的通知》-2018年碳排放補充數據核算報告模 板中的2015年全國電網平均排放因子。為提高資 料的可比性,今年報告中2019年的資料進行了修 訂,採用了與2020年一致的計算因數。

⁴ The calculation method and the calculation of emission factors were established pursuant to the Guidelines for Accounting and Reporting of Greenhouse Gas Emissions from Land-based Transportation Enterprises (Trial) issued by the National Development and Reform Commission of the PRC.

環境、社會與管治報告(續)

Use of resources

資源使用

Energy consumption:

能源消耗:

		2020	2019
Indicators	指標	二零二零年	二零一九年
Purchased electricity (kilowatts-hour)	外購電力(千瓦時)	287,912.00	238,002.10
Average electricity consumption by	每位僱員平均電力消耗總量
each employee (kilowatts-hour per person)	(千瓦時╱人)	1,645.21	1,272.74
Gasoline (liter)	汽油(公升)	3,100.00	4,200.00
Average total gasoline consumption by
each employee (liter per person)	每位僱員平均汽油消耗總量(公升╱人)	17.71	22.46
Total energy consumption (megawatt-hour)7	總耗量(兆瓦時)7	316.75	277.07
Average total energy consumption by each
employee (megawatt-hour per person)	每位僱員平均消耗總量(兆瓦時╱人)	1.81	1.48

Paper consumption:

紙張消耗量:

Indicators	指標	2020 二零二零年	2019 二零一九年
Total paper consumption (kilogram)	使用紙張總量(千克)	358.34	750.00
Average total paper consumption by each employee (kilogram per person)	每位僱員使用紙張總量(千克╱人)	2.05	4.01

⁷ The total energy consumption includes private cars owned and used by the Group and purchased electricity. The calculation method and related references are factored, given in Appendix II of the How to Prepare an Environmental, Social and Governance Report: Reporting Guidelines for Environmental KPIs A2.1 issued by the Stock Exchange, "Motor Gasoline" GB 17930-2016 – Table 3 Technical Requirements issued by the General Administration of Quality Supervision, Inspection and Quarantine of the PRC, the Standardization Administration of the PRC and Testing Party for Motor Gasoline (VIA), and Guidelines for Accounting Methods and Reporting of Greenhouse Gas Emission of Enterprises in Other Industrial Industries indicating that the low calorie-generating value of gasoline is 44.80 GJ/ tonne (Trial) - Table 2.1 Default values for common fossil fuel characteristic parameters issued by the National Development and Reform Commission of the PRC.

⁷ 此總耗能的計算範圍包括集團自有的私家車使用的 汽油及外購電力,其計算方法及相關參考因數參 考由香港聯合交易所有限公司發佈的《如何編備環 境、社會及管治報告》附錄二:環境關鍵績效指標 彙報指引A2.1及中華人民共和國國家品質監督檢 驗檢疫總局、中國國家標準化管理委員會發佈的 《車用汽油》GB 17930-2016-表3車用汽油(VIA) 技術要求和試驗方及由中華人民共和國國家發展和 改革委員會發佈的《工業其他行業企業溫室氣體排 放核算方法與報告指南當中註明汽油的低位發熱量 為44.80 GJ╱噸(試行)》-表2.1常見化石燃料特 性參數缺省值。

環境、社會與管治報告(續)

Water consumption⁸:

水消耗量⁸ :

		2020	2019
Indicators	指標	二零二零年	二零一九年
Total water consumption (cubic meter)	用水總量(立方米)	1,421.00	805.00
Proportion of outsourced tap water (%)	外購自來水佔比(%)	100	100
Total water consumption by each person
(cubic meter per person)	每位僱員用水總量(立方米╱人)	8.12	4.30

Employment

Employee composition:

僱傭 僱員組成:

		2020	2019
Indicators	指標	二零二零年	二零一九年
Number of employee (number)9	僱員人數(人)9	175	187
By gender	按性別劃分
Female employee (number)	女僱員(人)	60	64
Male employee (number)	男僱員(人)	115	123
By age group	按年齡劃分
Below 30 (number)8	30歲以下(人)	96	112
30 – 50 (number)8	30-50歲(人)	76	73
Above 50 (number)8	50歲以上(人)	3	2

⁸ Water consumed by the Group comes from the municipal pipe network and there are no issues in sourcing water.

• ⁹ The number of employees was derived from the total number of employees of the Group as at December 31, 2020 and December 31, 2019, respectively.
• ⁸ 集團的用水均來自市政管網且不存在任何求取水源 方面的問題。
• ⁹ 此僱員人數數據分別為截至二零二零年十二月三十 一日與截至二零一九年十二月三十一日的集團總僱 員人數。

Occupational health and safety			職業健康及安全
Health and safety of employees:		員工健康安全:
			2020	2019
Indicators	指標		二零二零年	二零一九年
Number of work-related fatalities occurred
in the past three years including the	過去三年(包括報告年度)
reporting year (number of case)	因工亡故的人數		0	0
Development and training		發展與培訓
Employee training:		員工培訓:
				2019
Indicators	指標		2020 二零二零年	二零一九年
Total training hours	總培訓時數(小時)		330.00	320.00
Per capita training hours (hours per person)	人均培訓時數(小時╱人)		1.89	1.71

環境、社會與管治報告(續)

INDEX OF THE ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORTING GUIDE ISSUED BY THE HONG KONG STOCK EXCHANGE

General
disclosures		Related sections
and KPIs	Description	in the ESG report
Environmental Aspect
Aspect A1: Emissions
General Information on: Disclosure (a) the policies; and (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to air and greenhouse gas emissions, discharges into water and land, and generation of hazardous and non hazardous waste.		Emissions reduction
KPI A1.1	The types of emissions and respective emissions data.	Comprehensive performance
KPI A1.2	Greenhouse gas emissions in total (in tonnes) and, where appropriate, intensity (e.g. per unit of production volume, per facility).	Comprehensive performance
KPI A1.3	Total hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g. per unit of production volume, per facility).	Data collection system in the process of being established
KPI A1.4	Total non-hazardous waste produced (in tonnes) and, where appropriate, intensity (e.g. per unit of production volume, per facility).	Data collection system in the process of being established
KPI A1.5	Description of measures to mitigate emissions and results achieved.	Emissions reduction
KPI A1.6	Description of how hazardous and non hazardous wastes are handled, reduction initiatives and results achieved.	Emissions reduction

香港聯交所《環境、社會及管治報 告指引》索引

一般披露
及關鍵績		ESG報告內
效指標	描述	有關章節
環境範疇
層面A1:排放物
一般披露	有關廢氣及溫室氣體排放、向 水及土地的排污、有害及無害 廢棄物的產生等的: (a) 政策;及 (b) 遵守對發行人有重大影響 的相關法律及規例的資料。	減少排放
KPI A1.1	排放物種類及相關排放數據。	綜合績效 表現
KPI A1.2	溫室氣體總排放量(以噸計算) 及(如適用)密度(如以每產量 單位、每項設施計算)。	綜合績效 表現
KPI A1.3	所產生有害廢棄物總量(以噸 計算)及(如適用)密度(如以每 產量單位、每項設施計算)。	收集體系 建立中
KPI A1.4	所產生無害廢棄物總量(以噸 計算)及(如適用)密度(如以每 產量單位、每項設施計算)。	收集體系 建立中
KPI A1.5	描述減低排放量的措施及所得 成果。	減少排放
KPI A1.6	描述處理有害及無害廢棄物的 方法、減低產生量的措施及所 得成果。	減少排放

General
disclosures		Related sections
and KPIs	Description	in the ESG report
	Aspect A2: Use of Resources
General	Policies on the efficient use of resources,	Resource efficiency
Disclosure	including energy, water and other raw materials.
KPI A2.1	Direct and/or indirect energy consumption	Comprehensive
	by type (e.g. electricity, gas or oil) in total	performance
	(kWh in '000s) and intensity (e.g. per unit
	of production volume, per facility).
KPI A2.2	Water consumption in total and intensity	Comprehensive
	(e.g. per unit of production volume, per facility).	performance
KPI A2.3 Description of energy use efficiency		Resource efficiency
	initiatives and results achieved.
KPI A2.4	Description of whether there is any issue in	Comprehensive
	sourcing water that is fit for purpose, water	performance,
	efficiency initiatives and results achieved.	Resource efficiency
KPI A2.5	Total packaging material used for finished	Not applicable
	products (in tonnes) and, if applicable,
with reference to per unit produced. Aspect A3: The Environment and Natural Resources
General	Policies on minimising the issuer's	Not applicable
Disclosure	significant impact on the environment and natural resources.
KPI A3.1	Description of the significant impacts of	Not applicable
	activities on the environment and natural
	resources and the actions taken to
	manage them.

一般披露
及關鍵績		ESG報告內
效指標	描述	有關章節
層面A2:資源使用
一般披露	有 效 使 用 資 源( 包 括 能 源 、	資源效率
	水及其他原材料)的政策。
KPI A2.1	按類型劃分的直接及╱或間	綜合績效
	接能源(如電、氣或油)總耗	表現
	量(以千個千瓦時計算)及密度
	(如以每產量單位、每項設施
	計算)。
KPI A2.2	總耗水量及密度(如以每產量	綜合績效
	單位、每項設施計算)。	表現
KPI A2.3	描述能源使用效益計劃及所得	資源效率
	成果。
KPI A2.4	描述求取適用水源上可有任何	綜合績效
	問題,以及提升用水效益計劃	表現、
	及所得成果。	資源效率
KPI A2.5	製成品所用包裝材料的總量	不適用
	(以噸計算)及(如適用)每生產
	單位佔量。
	層面A3:環境及天然資源
一般披露	減低發行人對環境及天然資源	不適用
	造成重大影響的政策。
KPI A3.1	描述業務活動對環境及天然資	不適用
	源的重大影響及已採取管理有
	關影響的行動。

General disclosures		Related sections	一般披露 及關鍵績		ESG報告內
and KPIs	Description	in the ESG report	效指標	描述	有關章節
Social Aspect			社會範疇
Aspect B1: Employment			層面B1:僱傭
General Disclosure	Information on: (a) the policies; and (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to compensation and dismissal, recruitment and promotion, working hours, rest periods, equal opportunity, diversity, anti-discrimination, and other benefits and welfare.	Equal opportunity, caring for talents and Labor standards	一般披露	有關薪酬及解僱、招聘及晉 升、工作時數、假期、平等機 會、多元化、反歧視以及其他 待遇及福利的: (a) 政策;及 (b) 遵守對發行人有重大影響 的相關法律及規例的資料。	平等機會、 關懷人才 勞動准則
KPI B1.1	Total workforce by gender, employment type, age group and geographical region.	The consolidated performance discloses the total number of employees by gender and age	KPI B1.1	按性別、僱傭類型、年齡組別 及地區劃分的僱員總數。	綜合績效表 現披露了按 性別及年齡 劃分的僱員 總數
	Aspect B2: Health and Safety		層面B2:健康與安全
General Disclosure	Information on: (a) the policies; and (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to providing a safe working environment and protecting employees from occupational hazards.	Occupational health and safety	一般披露	有關提供安全工作環境及保障 僱員避免職業性危害的: (a) 政策;及 (b) 遵守對發行人有重大影響 的相關法律及規例的資料。	職業健康與 安全
KPI B2.1	Number and rate of work-related fatalities. Comprehensive	performance	KPI B2.1	因工作關係而死亡的人數及比 率。	綜合績效 表現
KPI B2.3	Description of occupational health and safety measures adopted, how they are implemented and monitored.	Occupational health and safety	KPI B2.3	描述所採納的職業健康與安全 措施,以及相關執行及監察方 法。	職業健康與 安全

General
disclosures		Related sections
and KPIs	Description	in the ESG report
	Aspect B3: Development and Training
General	Policies on improving employees'	Staff development
Disclosure	knowledge and skills for discharging duties
	at work. Description of training activities.
Aspect B4: Labor Standards
General	Information on:	Labor standards
Disclosure	(a) the policies; and
	(b) compliance with relevant laws and
	regulations that have a significant
	impact on the issuer relating to
	preventing child and forced labor.
KPI B4.1	Description of measures to review	Labor standards
	employment practices to avoid child and
forced labor.
KPI B4.2	Description of steps taken to eliminate	Labor standards
	such practices when discovered.
	Aspect B5: Supply Chain Management
General	Policies on managing environmental and	Commitment to the
Disclosure	social risks of the supply chain.	supply chain
	Aspect B6: Product Responsibility
General	Information on:	Commitment to
Disclosure	(a) the policies; and	customers
	(b) compliance with relevant laws and	Advertising labels
	regulations that have a significant	Healthy network
	impact on the issuer relating to health
	and safety, advertising, labelling and
	privacy matters relating to products
	and services provided and methods of
	redress.
KPI 6.1	Percentage of total products sold or	Not applicable
	shipped subject to recalls for safety and
	health reasons.

一般披露
及關鍵績		ESG報告內
效指標	描述	有關章節
層面B3:發展及培訓
一般披露	有關提升僱員履行工作職責的	員工發展
	知識及技能的政策。描述培訓
	活動。
層面B4:勞工準則
一般披露	有關防止童工或強制勞工的:	勞動準則
	(a) 政策;及
	(b) 遵守對發行人有重大影響
	的相關法律及規例的資料。
KPI B4.1	描述檢討招聘慣例的措施以避	勞動準則
	免童工及強制勞工。
KPI B4.2	描述在發現違規情況時消除有	勞動準則
	關情況所採取的步驟。
層面B5:供應鏈管理
一般披露	管理供應鏈的環境及社會風險	對供應鏈的
	政策。	承諾
層面B6:產品責任
一般披露	有關所提供產品和服務的健康	對客戶的
	與安全、廣告、標籤及私隱事	承諾
	宜以及補救方法的:	廣告標籤
	(a) 政策;及	健康網絡
	(b) 遵守對發行人有重大影響
	的相關法律及規例的資料。
KPI 6.1	已售或已運送產品總數中因安	不適用
	全與健康理由而須回收的百分
	比。

General
	disclosures		Related sections
	and KPIs	Description	in the ESG report
	KPI 6.2	Number of products and service related complaints received and how they are dealt with	Commitment to customers
	KPI 6.3	Description of practices relating to observing and protecting intellectual property rights.	Intellectual property
	KPI 6.5	Description of consumer data protection and privacy policies, how they are implemented and monitored.	Data security
	Aspect B7: Anti-corruption
	General Disclosure	Information on: (a) the policies; and (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to bribery, extortion, fraud and money laundering.	Anti-corruption
	KPI B7.1	Number of concluded legal cases regarding corrupt practices brought against the issuer or its employees during the reporting period and the outcomes of the cases.	Comprehensive performance
	KPI B7.2	Description of preventive measures and whistle-blowing procedures, how they are implemented and monitored.	Anti-corruption
	Aspect B8: Community Investment
	General Disclosure	Policies on community engagement to understand the needs of the communities where the issuer operates and to ensure its activities take into consideration the communities' interests.	Commitment to the community

一般披露
及關鍵績		ESG報告內
效指標	描述	有關章節
KPI 6.2	接獲關於產品及服務的投訴數	客戶的承諾
	目以及應對方法。
KPI 6.3	描述與維護及保障知識產權有 關的慣例。	知識產權
	描述消費者資料保障及私隱政	數據安全
KPI 6.5	策,以及相關執行及監察方	私隱保護
	法。
層面B7:反貪污
一般披露	有關防止賄賂、勒索、欺詐及	反貪腐
	洗黑錢的:
	(a) 政策;及
	(b) 遵守對發行人有重大影響
	的相關法律及規例的資料。
KPI B7.1	於匯報期內對發行人或其僱員	綜合績效
	提出並已審結的貪污訴訟案件	表現
	的數目及訴訟結果。
KPI B7.2	描述防範措施及舉報程序,以	反貪腐
	及相關執行及監察方法。
層面B8:社區投資
一般披露	有關以社區參與來瞭解營運所	對社區的
	在社區需要和確保其業務活動	承諾
	會考慮社區利益的政策。

The Board is pleased to present the annual report together with the audited consolidated financial statements of the Group for FY2020.

PRINCIPAL ACTIVITIES

The Company was incorporated in the Cayman Islands on November 24, 2014 as an exempted company with limited liability under the Companies Law of the Cayman Islands. The Group is a leading global online game publisher for China-based game developers, with fast-growing in-house development capabilities for mobile games.

The activities and particulars of the Company's subsidiaries are shown under Note 1 to the consolidated financial statements. An analysis of the Group's revenue and operating profit for the year by principal activities is set out in the section headed "Management Discussion and Analysis" in this annual report and Note 5 to the consolidated financial statements.

BUSINESS REVIEW

A review of the Group's business during the year, which includes a discussion of the principal risks and uncertainties faced by the Group, an analysis of the Group's performance using financial key performance indicators, particulars of important events affecting the Group during the year, and an indication of likely future developments in the Group's business, could be found in the sections headed "Chairman's Statement", "Management Discussion and Analysis" and "Corporate Governance Report" in this annual report. In addition, a discussion on relationships with its key stakeholders is included in the section headed "Environmental, Social and Governance Report". The review and discussion form part of this directors' report.

董事會欣然提呈本集團二零二零財政年度的年報連 同經審核合併財務報表。

主要業務

本公司於二零一四年十一月二十四日根據開曼群島 公司法在開曼群島註冊成立為獲豁免有限公司。本 集團是一家為中國的遊戲開發商提供服務的全球領 先網絡遊戲發行商,擁有快速增長的手機遊戲自主 研發能力。

本公司附屬公司業務及詳情載於合併財務報表附註 1。本集團按主要業務劃分之年度收入及經營溢利 分析載於本年報「管理層討論及分析」一節及合併財 務報表附註5。

業務回顧

本集團年度業務回顧(包括本集團面對的主要風險 及不明朗因素的討論、使用財務關鍵績效指標進行 的本集團表現分析、影響本集團的年內重要事件詳 情及預期本集團業務未來的發展的說明)可參閱本 年報「主席報告」、「管理層討論及分析」及「企業管 治報告」等節。此外,有關與本集團主要持份者關 係的討論載於本年報「環境、社會與管治報告」。該 等回顧及討論內容為本董事會報告的構成部份。

董事會報告(續)

RESULTS AND DIVIDEND

The consolidated results of the Group for FY2020 are set out on pages 113 to 119 of this annual report.

The Board has resolved not to recommend the payment of any final dividend for FY2020 (FY2019: nil).

There is no arrangement in which a Shareholder has waived or agreed to waive any dividends.

DIVIDEND POLICY

The Company currently does not have any pre-determined dividend payout ratio. The amount of dividends actually distributed to the Shareholders will depend on the Company's earnings and financial condition, operating requirements, capital requirements and any other conditions that the Directors may deem relevant and will be subject to approval of the Shareholders. The Board has the absolute discretion to recommend any dividends.

CLOSURE OF THE REGISTER OF MEMBERS

The register of members of the Company will be closed from May 28, 2021 to June 2, 2021, both days inclusive, and during which period no share transfer will be effected, for the purpose of ascertaining shareholders' entitlement to attend and vote at the 2021 AGM to be held on June 2, 2021. In order to be eligible to attend and vote at the 2021 AGM, all transfer documents accompanied by the relevant share certificates must be lodged for registration with the Company's share registrar in Hong Kong, Tricor Investor Services Limited, at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong, not later than 4:30 p.m. on May 27, 2021.

業績及派息

本集團二零二零財政年度的綜合業績載於本年報第 113至119頁。

董事會決議不派發二零二零財政年度的任何末期股 息(二零一九財政年度:無)。

概無任何股東已放棄或同意放棄任何股息的安排。

股息政策

本公司目前並無任何預先釐定的派息率。實際分派 予股東的股息金額將取決於本公司的盈利及財務狀 況、營運需求、資本要求及董事可能認為相關的任 何其他條件,並將須取得股東批准。董事會有絕對 酌情權建議任何股息。

暫停辦理股份過戶登記

為確定本公司股東出席於二零二一年六月二日舉行 的二零二一年股東週年大會及於會上投票的資格, 本公司將於二零二一年五月二十八日至二零二一年 六月二日(包括首尾兩日)暫停辦理股份過戶登記手 續。為符合資格出席二零二一年股東週年大會及於 會上投票,股東須將所有股份過戶文件連同有關股 票於二零二一年五月二十七日下午四時三十分之前 送達本公司之香港股份過戶登記處卓佳證券登記有 限公司(地址為香港皇后大道東183號合和中心54 樓),以辦理登記手續。

董事會報告(續)

FINANCIAL SUMMARY

A summary of the published results and assets, liabilities and non-controlling interests of the Group for the last five financial years is set out on page 14 of this annual report.

PROPERTY, PLANT AND EQUIPMENT

Details of the movements in property and equipment of the Group during FY2020 are set out in Note 6 to the consolidated financial statements on page 173 of this annual report.

E N V I R O N M E N T A L P O L I C I E S A N D PERFORMANCE

The Group is highly aware of the importance of environment protection and has not noted any material non-compliance with all relevant laws and regulations in relation to its business including health and safety, workplace conditions, employment and the environment. The Group has implemented environmental protection measures and has also encouraged staff to be environmental friendly at work by consuming the electricity and paper according to actual needs, so as to reduce energy consumption and minimize unnecessary waste. For further details of the Group's environmental policies and performance, please refer to the section of "Environmental, Social and Governance Report" in this annual report.

財務摘要

本集團過去五個財政年度的已刊發業績及資產、負 債及非控股權益摘要,載於本年報第14頁。

物業、廠房及設備

本集團於二零二零財政年度的物業及設備變動詳 情,載於本年報第173頁合併財務報表附註6。

環保政策及表現

本集團深明環境保護的重要性,而在其業務方面 (包括健康及安全、工場條件、僱傭及環境)並無發 現不符合相關法律法規的情況。本集團已實行環保 措施,並已鼓勵員工在工作時注重環保,按實際需 要而耗用電力和紙張,以節省能源消耗及盡量減少 不必要浪費。有關本集團的環保政策及表現之進一 步詳情,可參閱本年報「環境、社會及管治報告」一 節。

董事會報告(續)

SHARE CAPITAL

Details of the movements in share capital of the Company during FY2020 are set out in Note 17 to the consolidated financial statements on pages 195 to 196 of this annual report.

RESERVES

Details of the movement in the reserves of the Group and of the Company during FY2020 are set out in Note 18 to the consolidated financial statements on pages 197 to 198 of this annual report.

DISTRIBUTABLE RESERVES

As at December 31, 2020, the Company's distributable reserves were US\$33.2 million.

BORROWINGS

As at December 31, 2020, the Company did not have any bank borrowings.

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

Neither the Company, nor any of its subsidiaries has purchased, sold or redeemed any of the Company's listed securities during FY2020.

PRE-EMPTIVE RIGHTS

There are no provisions for pre-emptive rights under the Articles, or the laws of Cayman Islands, which would oblige the Company to offer new shares on a pro-rata basis to its existing shareholders.

股本

本公司於二零二零財政年度的股本變動詳情載於本 年報第195至196頁合併財務報表附註17。

儲備

本集團及本公司於二零二零財政年度的儲備變動詳 情載於本年報第197至198頁合併財務報表附註18。

可分派儲備

於二零二零年十二月三十一日,本公司可分派儲備 為33.2百萬美元。

借款

於二零二零年十二月三十一日,本公司並無任何銀 行借款。

購買、出售或贖回本公司上市證 券

於二零二零財政年度,本公司或其附屬公司概無購 買、出售或贖回任何本公司上市證券。

優先認購權

本公司的組織章程細則或開曼群島法律概無載列優 先認購權條文,使本公司須按比例向現有股東發售 新股份。

董事會報告(續)

USE OF NET PROCEEDS FROM THE IPO

The net proceeds from the IPO amounted to approximately US\$35.4 million after deducting share issuance costs and listing expenses. During FY2020, the net proceeds from the listing were utilised in accordance with the proposed applications set out in the section headed "Future Plans and Use of Proceeds" in the Prospectus, with the balance unutilised amounting to approximately US\$11.3 million. The balance of fund will continue to be utilised according to the manner as disclosed in the Prospectus. The Group held the unutilised net proceeds in short-term deposits with licensed institutions in Hong Kong. In 2021, the Company will use the proceeds raised from the IPO in accordance with its development strategies, market conditions and intended use of such proceeds. Details are set out in the following table:

首次公開發售所得款項淨額用途

本公司於首次公開發售所得款項淨額為35.4百萬美 元(扣除股份發行成本及上市開支)。於二零二零財 政年度,上市所得款項淨額已根據本公司的招股章 程「未來計劃及所得款項用途」一節所載擬定用途動 用,而未動用款項結餘約為11.3百萬美元。款項結 餘將根據招股章程披露之用途動用。本集團將未動 用所得款項淨額以短期存款形式存放於香港持牌機 構。二零二一年,本公司將根據其發展策略、市場 情況及首次公開發售所得款項的擬定用途,動用該 等款項。詳情請見下表:

	Net amount		Unutilised
	available as at	Actual net	amount as at	Expected timeline for
	December 31,	amount utilised	December 31,	utilising the remaining
	2019	during FY2020	2020	net proceeds (Note)
	截至二零一九年		截至二零二零年
	十二月三十一日	二零二零財政年度	十二月三十一日	動用餘下所得款項
	可供動用凈額	實際動用淨額	尚未動用金額	淨額的時間表(附註)
	USD' 000	USD' 000	USD' 000
	千美元	千美元	千美元
Investment	7,436.8	7.1	7,429.7	Expected to be fully utilised on or
				before June 30, 2022
投資				預期於二零二二年六月三十日
				或之前悉數動用
Development and research	5,882.7	1,974.4	3,908.3	Expected to be fully utilised on or before December 31, 2022
開發與研究				預期於二零二二年十二月三十一日
				或之前悉數動用
Expansion of online game business	2,656.3	2,656.3	–	Fully utilised
網絡遊戲業務拓展				已悉數動用
Marketing and advertisement	–	–	–	Fully utilised
營銷及宣傳				已悉數動用
Working capital and other general	1,288.2	1,288.2	–	Fully utilised
corporate purposes
營運資金及其他一般企業用途				已悉數動用
Total	17,264.0	5,926.0	11,338.0
總計

董事會報告(續)

Note: The expected timeline for utilising the remaining net proceeds is based on the best estimation of the future market conditions made by the Group. It will be subject to changes based on the current and future development of the market conditions.

DIRECTORS

During FY2020 and up to the date of this annual report, the Board consists of the following Directors:

Executive Directors

Mr. LU Yuanfeng (Chairman and Chief Executive Officer) Mr. HUANG Guozhan Mr. HUANG Deqiang

Independent Non-executive Directors

Ms. Imma LING Kit-sum Mr. LI Yi Wen Mr. LU Qibo

I N D E P E N D E N C E O F I N D E P E N D E N T NON-EXECUTIVE DIRECTORS

The Company has received an annual confirmation of independence from each of the independent non-executive Directors pursuant to Rule 3.13 of the Listing Rules, and considers all the independent non-executive Directors are independent.

B I O G R A P H I C A L D E T A I L S O F T H E D I R E C T O R S A N D T H E S E N I O R MANAGEMENT

Biographical details of the Directors and the senior management of the Group as at the date of this annual report are set out on pages 19 to 25 in the section headed "Profile of Directors and Senior Management" in this annual report.

附註: 動用餘下所得款項的預期時間表以本集團對日後市 況的最佳估算作依據,並會因應現時及將來市況發 展有所調整。

董事

於二零二零財政年度及至本年報日期,董事會由以 下董事組成:

執行董事

陸源峰先生(主席兼首席執行官) 黃國湛先生 黃德強先生

獨立非執行董事

凌潔心女士 李毅文先生 盧啟波先生

獨立非執行董事的獨立性

本公司已根據上市規則第3.13條收到各獨立非執行 董事的獨立性書面確認,並認為所有獨立非執行董 事均為獨立人士。

董事及高級管理層履歷詳情

截至本年報日期,本集團董事及高級管理層履歷詳 情載於本年報第19至25頁「董事及高級管理層履 歷」一節。

董事會報告(續)

DIRECTORS' SERVICE CONTRACTS

Each of the executive Directors has entered into a service contract with the Company for a specific term of one to three years commencing from the date of the respective service contracts, which may be terminated by not less than three months' notice in writing served by either the executive Director or the Company.

Each of the independent non-executive Directors has signed an appointment letter with the Company for a specific term of one to three years commencing from the date of the respective appointment letters, which may be terminated by not less than three months' notice in writing served by either of the Director or the Company. Under the respective appointment letters, each of the independent non-executive Directors is entitled to a fixed Director's fee.

The appointments of the Directors are subject to the provisions of retirement and rotation of Directors under the Articles.

Save as disclosed above, none of the Directors has entered into any service contract with the Company or any of its subsidiaries (excluding contracts expiring or determinable by the Company within one year without payment of compensation, other than statutory compensation).

C O N T R A C T W I T H C O N T R O L L I N G SHAREHOLDERS

No contract of significance was entered into between the Company or any of its subsidiaries and the Controlling Shareholders or any of its subsidiaries during FY2020 or subsisted at the end of the year and no contract of significance for the provision of services to the Company or any of its subsidiaries by a Controlling Shareholder or any of its subsidiaries was entered into during FY2020 or subsisted at the end of the year.

董事服務合約

各執行董事均與本公司訂立服務合約,特定任期為 自各自的服務合約日期起計一至三年,惟執行董事 或本公司可發出不少於三個月通知期的書面通知終 止該等合約。

各獨立非執行董事已與本公司簽署委任書,特定任 期為自各自的委任書日期起計一至三年,惟董事或 本公司可發出不少於三個月通知期的書面通知終止 該等委任書。各獨立非執行董事根據各自的委任 書,可獲發定額董事袍金。

董事委任須遵守組織章程細則下董事退任及輪值的 規定。

除上文披露者外,概無董事與本公司或其任何附屬 公司訂立任何服務合約(不包括於一年內屆滿或本 公司可於一年內免付賠償(法定賠償除外)予以終止 的服務合約)。

控股股東合約

於二零二零財政年度或年底,本公司或其任何附屬 公司概無與任何控股股東或其任何附屬公司訂立重 大合約,本公司亦沒有訂立有關由控股股東或其任 何附屬公司向本公司或其任何附屬公司提供服務的 重大合約。

董事會報告(續)

DIRECTOR'S INTEREST IN TRANSACTIONS, A R R A N G E M E N T O R C O N T R A C T O F SIGNIFICANCE

Other than disclosed in the section headed "Significant Related Party Transactions" in Note 30 to the consolidated financial statements contained in this annual report, no transaction, arrangement and contract of significance to the business of the Group which the Company or any of its subsidiaries was a party, and in which a Director or any entity connected with such a Director had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during FY2020.

COMPENSATION OF DIRECTORS AND SENIOR MANAGEMENT

The emoluments of the Directors and senior management of the Group are decided by the Board with reference to the recommendation given by the Remuneration Committee, having regard to the Group's operating results, individual performance and comparable market statistics.

Details of the Directors' emoluments and emoluments of the five highest paid individual in the Group are set out in Notes 34 and 24 to the consolidated financial statements of this annual report respectively.

For FY2020, no emoluments were paid by the Group to any Director or any of the five highest paid individuals as an inducement to join or upon joining the Group or as compensation for loss of office. None of the Directors has waived any emoluments for FY2020.

Except as disclosed above, no other payments have been made or are payable, for FY2020, by our Group to or on behalf of any of the Directors.

DIRECTORS' INTERESTS IN COMPETING BUSINESS

During FY2020, none of the Directors or their respective close associates (as defined in the Listing Rules) had any interest in a business that competed or was likely to compete, either directly or indirectly, with the business of the Group, other than being a director of the Company and/or its subsidiaries.

董事於重大交易、安排或合約的 權益

除本年報合併財務報表附註30「重大關聯方交易」一 節披露者外,於本年年底或二零二零財政年度內任 何時間,本公司或其任何附屬公司並非任何就有關 本集團業務且其董事或與任何該董事的關連實體擁 有直接或間接重大權益的重大交易、安排或合約的 訂約方。

董事及高級管理層薪酬

董事會參考薪酬委員會提供的建議並考慮本集團經 營業績、個別人士表現及可比擬市場統計資料釐定 本集團董事及高級管理層薪酬。

本集團董事酬金及五名最高薪酬人士詳情分別載於 本年報合併財務報表附註34及附註24。

於二零二零財政年度,本集團概無向任何董事或五 名最高薪酬人士的任何人士發放薪酬,作為加盟本 集團或加盟本集團時的獎金或作為離職補償。於二 零二零財政年度,概無董事放棄任何薪酬。

除上文披露者外,於二零二零財政年度,本集團概 無向任何董事或代表任何董事支付或應付任何其他 款項。

董事於競爭業務的權益

於二零二零財政年度內,概無董事或彼等各自的緊 密聯繫人(定義見上市規則)在與本集團的業務競 爭或可能競爭的業務中擁有任何權益(擔任本公司 及╱或其附屬公司董事除外)。

董事會報告(續)

CONTINUING DISCLOSURE OBLIGATIONS PURSUANT TO THE LISTING RULES

Save as disclosed in this annual report, the Company does not have any other disclosure obligations under Rules 13.20, 13.21 and 13.22 of the Listing Rules.

DEED OF NON-COMPETITION

On November 24, 2017, each of the Controlling Shareholders entered into the deed of non-competition ("Deed of Non-competition") in favor of the Company, pursuant to which the Controlling Shareholders have irrevocably, jointly and severally given certain non-competition undertakings to the Company. Details of the Deed of Non-competition are set out in the section headed "Relationship with our Controlling Shareholders – Deed of Non-competition" in the Prospectus.

The Controlling Shareholders confirmed that they have complied with the Non-competition Deed for FY2020. The independent non-executive Directors have conducted such review for FY2020 and also reviewed the relevant undertakings and are satisfied that the Deed of Non-competition has been fully complied with.

MANAGEMENT CONTRACTS

Other than the Directors' service contracts and appointment letters, no contract concerning the management and administration of the whole or any substantial part of the business of the Group was entered into or in existence as at the end of the year or at any time during FY2020.

EQUITY-LINKED AGREEMENTS

During FY2020, other than the Post-IPO Share Option Scheme as set out in the section under "Post-IPO Share Option Scheme" and consolidated financial statements, the Company has not entered into any equity-linked agreement.

根據上市規則持續披露責任

除本年報披露者外,本公司並無上市規則第 13.20、13.21及13.22條項下的任何其他披露責任。

不競爭契據

於二零一七年十一月二十四日,控股股東以本公司 為受益人訂立不競爭契據(「不競爭契據」)。據此, 各控股股東已不可撤回地共同及個別向本公司作 出若干不競爭承諾。不競爭契據詳情載於招股章程 「與我們的控股股東關係-不競爭契據」一節。

控股股東確認,於二零二零財政年度,彼等已遵守 不競爭契據。獨立非執行董事已就二零二零財政年 度進行有關審閱,並檢討相關承諾及信納已完全遵 守不競爭契據。

管理合約

除董事服務合約及委任書外,於年底或二零二零財 政年度內任何時間,概無訂立或存在與本集團整體 或任何重大部份業務的管理及行政事務有關的合 約。

股權掛鈎協議

於二零二零財政年度,除「首次公開發售後購股權 計劃」一節及合併財務報表所載的首次公開發售後 購股權計劃外,本公司並無訂立任何股權掛鈎協 議。

董事會報告(續)

MATERIAL LEGAL PROCEEDINGS

For FY2020, Guangzhou ZYK instituted legal proceedings (the "Legal Proceedings") against Qianhai Huanjing in relation to the losses and damages sustained by Guangzhou ZYK as a result of the unilateral termination by Qianhai Huanjing of the IP Licensing Agreements. Hearing of the Legal Proceedings by the Guangzhou Intellectual Property Court has been scheduled on April 2, 2021. Details of the Legal Proceedings are set out in the announcements of the Company dated May 18, 2020 and March 8, 2021.

Save as disclosed above, the Group was not involved in any material legal proceedings during FY2020.

LOAN AND GUARANTEE

During FY2020, the Group had not made any loan or provided any guarantee for loan, directly or indirectly, to the Directors, senior management of the Company, the Controlling Shareholders or their respective connected persons.

POST-IPO SHARE OPTION SCHEME

On May 27, 2017, the Company adopted the Post-IPO Share Option Scheme approved by the resolutions of our Shareholders. The purpose of the Post-IPO Share Option Scheme is to attract, retain and motivate employees, Directors and other participants, and to provide a means of compensating them through the grant of options ("Options") pursuant to the terms of the Post-IPO Share Option Scheme for their contribution to the growth and profits of the Group, and to allow such employees, Directors and other persons to participate in the growth and profitability of the Group.

Our Board has appointed The Core Trust Company Limited as the trustee ("Trustee") for the administration of the Post-IPO Share Option Scheme and to hold the Shares which may be granted under the Options through Epic City Limited ("Nominee"), a wholly-owned subsidiary of the Trustee. The Trustee shall act in accordance and cooperate with our Board for the purpose of the Post-IPO Share Option Scheme. Our Company will use Shares held by the Nominee and new Shares to be allotted by us to satisfy the Options upon exercise.

重大法律訴訟

於二零二零財政年度,廣州掌贏控對前海幻境就前 海幻境單方解除知識產權授權協議而導致廣州掌贏 控遭受之虧損及損失已提起訴訟(「訴訟」)。廣州知 識產權法院已定於二零二一年四月二日對訴訟進行 審理。有關訴訟詳情載於本公司日期為二零二零年 五月十八日及二零二一年三月八日之公告。

除上文披露者外,本集團於二零二零財政年度概無 涉及任何重大法律訴訟。

貸款及擔保

於二零二零財政年度,本集團並無貸款或就任何貸 款直接或間接向本公司董事、高級管理層、控股股 東或其各自的關連人士作出擔保。

首次公開發售後購股權計劃

於二零一七年五月二十七日,本公司採納首次公開 發售後購股權計劃並經股東通過決議案批准。首次 公開發售後購股權計劃旨在吸引、挽留及鼓勵僱 員、董事及其他參與者,並透過根據首次公開發售 後購股權計劃的條款授出購股權(「購股權」)酬謝彼 等對本集團的增長及溢利所作出的貢獻,以及讓該 等僱員、董事及其他人士參與本集團的增長及盈利 能力。

董事會已委任The Core Trust Company Limited作 為受託人(「受託人」),管理首次公開發售後購股權 計劃及透過Epic City Limited(「代名人」,受託人的 全資附屬公司)持有根據購股權可能授出的股份。 受託人須根據董事會就首次公開發售後購股權計劃 的目的行事及與董事會合作。本公司將使用由代名 人持有的股份及將由我們配發的新股份,滿足行使 購股權時的需要。

遊萊互動集團有限公司 二零二零年年報 91

董事會報告(續)

Existing Shares held by the Nominee

The Shares which may be transferred from the Nominee upon exercise of all Options to be granted under the Post-IPO Share Option Scheme shall not exceed 149,999,973 Shares (i.e. being the Shares held by the Nominee representing 7.5% of the enlarged issued share capital of our Company as of the Listing Date). Options lapsed in accordance with the terms of the Post-IPO Share Option Scheme shall not be counted for the purpose of calculating this limit. For the avoidance of doubt, Chapter 17 of the Listing Rules only applies to the grant of options over new shares or other new securities of a listed issuer or its subsidiaries. For the Options to be satisfied by transfer of the existing Shares from the Nominee to the relevant participants of the Post-IPO Share Option Scheme upon exercised, as there will be no new Share allotted by the Company to satisfy these Options, such grants of Options were not and will not be governed by Chapter 17 of the Listing Rules.

New Shares to be issued by our Company

The new Shares which may be issued by our Company upon exercise of all Options to be granted under the Post-IPO Share Option Scheme and other share option schemes of our Company (and to which the provisions of the Listing Rules are applicable) shall not exceed 200,000,000 Shares, (i.e. 10% of the aggregate of the Shares in issue on the Listing Date ("Scheme Mandate Limit") and as of the date of this annual report). Options lapsed in accordance with the terms of the Post-IPO Share Option Scheme shall not be counted for the purpose of calculating this Scheme Mandate Limit.

As of the date of this annual report, 200,000,000 Shares are available for issue, which representing 10% of the total issued Shares.

The total number of Shares issued and to be issued upon the exercise of the options granted to or to be granted to each eligible person under the Share Option Scheme (including exercised, cancelled and outstanding options) in any 12-month period shall not exceed 1% of the Shares in issue.

代名人持有的現有股份

因行使根據首次公開發售後購股權計劃將予授出的 所有購股權而可能從代名人轉讓的股份數目不得超 過149,999,973股股份(即由代名人持有的股份, 相當於截至上市日期本公司經擴大已發行股本的 7.5%)。根據首次公開發售後購股權計劃的條款失 效的購股權不被納入此上限的計算內。為免存疑, 上市規則第17章僅適用於授出涉及上市發行人或 其附屬公司的新股份或其他新證券的購股權。就於 行使時從代名人轉讓現有股份至首次公開發售後購 股權計劃的有關參與者以滿足有關行使的購股權而 言,由於本公司將不會配發新股份以滿足該等購股 權,因此在此情況下授出購股權並無亦不會受到上 市規則第17章的規管。

本公司將發行的新股份

本公司因行使根據首次公開發售後購股權計劃及本 公司其他購股權計劃(及上市規則條文適用者)將 予授出的所有購股權而可能發行的新股份不得超過 200,000,000股股份(即上市日期及本年報日期已發 行股份總數的10%)(「計劃授權上限」)。根據首次 公開發售後購股權計劃的條款失效的購股權不被納 入此計劃授權上限的計算內。

於本年報日期,共有200,000,000股股份可供發 行,相等於已發行股份總數的10%。

於任何12個月期間,因行使根據購股權計劃授予或 將授予各合資格人士的購股權(包括已行使、已註 銷及未行使的購股權)而已發行及將予發行的股份 總數,不得超過已發行股份的1%。

DIRECTORS' REPORT (Continued) 董事會報告(續)

An Option may be exercised in accordance with the terms of the Post-IPO Share Option Scheme at any time during the period to be determined by our Board at its absolute discretion and notified by our Board to each grantee of the Options (the "Grantee") as being the period during which an Option may be exercised and in any event, such period shall not be longer than 10 years from the date upon which any particular Option is granted in accordance with the Post-IPO Share Option Scheme. Options may be vested over such period(s) as determined by the Board in its absolute discretion subject to compliance with the requirements under any applicable laws, regulations or rules.

The exercise price ("Exercise price") shall be such price as determined by our Board in its absolute discretion at the time of the grant of the relevant Option (and shall be stated in the letter containing the offer of the grant of the Option), but in the case that any Share would be allotted and issued to a Grantee upon the exercise of an Option in accordance with the terms of the Post-IPO Share Option Scheme, the Exercise Price shall not be less than the higher of (a) the closing price of the Shares as stated in the daily quotation sheet of the Stock Exchange on the date of grant, which must be a Business Day, (b) the average closing price of the Shares as stated in the daily quotation sheets of the Stock Exchange for the five (5) Business Days immediately preceding the date of grant, and (c) the nominal value of a Share. For the avoidance of doubt, in the case that the Share would be transferred from the Trustee to a Grantee upon the exercise of an Option in accordance with the terms of the Post-IPO Share Option Scheme, the Exercise Price shall be determined by the Board, as it may think fit taking into account the Grantee's contribution to the development and growth of the Group.

A summary of the terms of the Post-IPO Share Option Scheme has been set out in the section headed "D. Share Incentive Scheme" in Appendix IV of the Prospectus.

購股權可於董事會全權酌情釐定及向各購股權承授 人(「承授人」)通知的期間(即購股權可行使期間) 內任何時間,隨時根據首次公開發售後購股權計劃 的條款行使;於任何情況下,該期間將不超過任何 個別購股權根據首次公開發售後購股權計劃授出當 日起計10年。購股權可於董事會全權酌情釐定的期 間歸屬,惟須遵守任何適用法律、法規或規則的規 定。

行使價(「行使價」)須為由董事會於授出有關購股權 當時全權酌情釐定的有關價格(且應在載有授出購 股權要約的函件內註明),惟倘於根據首次公開發 售後購股權計劃的條款行使購股權後,將向承授人 配發及發行任何股份,則行使價不得低於以下的較 高者:(a)股份於授出日期在聯交所每日報價表所列 的收市價,而該日須為營業日;(b)緊接授出日期前 五(5)個營業日,股份於聯交所每日報價表所列的平 均收市價;及(c)股份面值。為免生疑問,倘於根據 首次公開發售後購股權計劃的條款行使購股權後, 股份將由受託人轉讓予承授人,董事會於計及承授 人對本集團發展及增長作出的貢獻後釐定其可能認 為適當的行使價。

首次公開發售後購股權計劃條款之概要載於招股章 程附錄四「D. 股份獎勵計劃」一節。

董事會報告(續)

On February 15, 2018, the Board approved to grant Options from the Post-IPO Share Option Scheme to eligible employees for their past contribution to the success of the Group, and to provide incentives to them to further contribute to the Group, the details of which are set out in the announcement of the Company dated February 20, 2018.

The Options are conditionally vested upon satisfying specified service vesting condition, which is mutually agreed by the employees and the Company. The Group has no legal or constructive obligations to repurchase or settle the Options in cash.

On February 15, 2018, 49,498,610 Options, which are to be satisfied solely by the Shares held by Epic City Limited when they are exercised, were granted under the Post-IPO Share Option Scheme. No new Share will be allotted to satisfy such Options. The vesting period of the Options is three years and the vesting schedule is 33.33% after twelve months from the grant date, 33.33% after twenty-four months from the grant date, and 33.34% after thirty-six months from the grant date. The Exercise Price of the Options granted is HK\$0.0074 per Share (in respect of 21,419,696 share options), or US\$0.0074 per Share (in respect of 28,078,914 share options) (equivalent to HK\$0.0579 per Share based on the exchange rate of HK\$1.00 to US\$0.1279). As no new Shares will be allotted by the Company to satisfy the Options, the grant of the Options is not governed by Chapter 17 of the Listing Rules.

The options granted vested as follows:

On the 1st anniversary of the date of grant	33.33% vested
On the 2nd anniversary of the date of grant	Further 33.33% vested
On the 3rd anniversary of the date of grant	Remaining 33.34% vested

No Option has been granted under the Post-IPO Share Option Scheme to a Director, chief executive or substantial shareholder of the Company or an associate of any of them (as defined in the Listing Rules) since its adoption and up to December 31, 2020.

於二零一八年二月十五日,董事會批准因合資格僱 員過往對本集團成功所作貢獻,而從首次公開發售 後購股權計劃向彼等授出購股權,並激勵彼等對本 集團作一步貢獻,有關詳情載於本公司日期為二零 一八年二月二十日之公告。

購股權乃於符合由僱員及本公司雙方協定的特定服 務歸屬條件後方會歸屬。本集團並無以現金購回或 結算購股權之法律或推定責任。

於二零一八年二月十五日,本公司已根據首次公開 發售後購股權計劃授出49,498,610份購股權,而 於獲行使時將僅以Epic City Limited持有的股份滿 足,而不會配發新股份以滿足該等購股權的需要。 該等購股權的歸屬期為三年,而歸屬時間表如下: 於授出日期起計十二個月歸屬33.33%,於授出日 期起計二十四個月歸屬33.33%,而於授出日期起 計三十六個月歸屬33.34%。所授出購股權的行使 價為每股股份0.0074港元(就21,419,696份購股權 而言)或每股股份0.0074美元(就28,078,914份購 股權而言)(根據1.00港元兌0.1279美元之匯率相等 於每股股份0.0579港元)。由於本公司不會配發新 股份以滿足購股權的需要,故授出購股權不受上市 規則第十七章規管。

已授出的購股權按以下時間表歸屬:

於授出日期後第一週年	歸屬33.33%
於授出日期後第二週年	進一步歸屬33.33%
於授出日期後第三週年	歸屬餘下33.34%

自首次公開發售後購股權計劃採納後及直至二零二 零年十二月三十一日,概無根據首次公開發售後購 股權計劃向本公司董事、最高行政人員或主要股東 或任何上述各方的聯繫人士(定義見上市規則)授出 購股權。

DIRECTORS' REPORT (Continued) 董事會報告(續)

The Company has not granted any Options to be satisfied by new Shares under the Post-IPO Share Option Scheme. Details of movements of the number of the Options to be satisfied by existing Shares held by the Nominee under the Post-IPO Share Option Scheme for FY2020 are set out below:

本公司未有根據首次公開發售後購股權計劃授出任 何將以新股份滿足行使的購股權。於二零二零財政 年度,首次公開發售後購股權計劃項下將以代名人 所持的現有股份滿足行使的購股權數目變動如下:

				Outstanding
				as at
				December 31,
Outstanding	Exercised	Cancelled	Lapsed	2020
as at January	during	during	during	(% of total
1, 2020	FY2020	FY2020	FY2020	issued Shares)	Exercise Price
				於二零二零年
於二零二零年	已於二零二零	已於二零二零	已於二零二零	十二月三十一日
一月一日	財政年度內	財政年度內	財政年度內	尚未行使(佔已發行
尚未行使	行使	註銷	失效	股份總數的百分比)	行使價
39,977,019	3,335,966	–	212,758	36,428,295	HK\$0.0074 or US\$0.0074
				(1.82%)	0.0074港元或0.0074美元

董事會報告(續)

INTERESTS OF DIRECTORS AND CHIEF EXECUTIVE IN SECURITIES

As at December 31, 2020, the interests or short positions of the Directors and chief executive of the Company in the shares, underlying shares and debentures of the Company and its associated corporations (within the meaning of Part XV of the SFO), which (a) were required to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions which he/ she was taken or deemed to have under such provisions of the SFO); or (b) were required, pursuant to section 352 of the SFO, to be recorded in the register referred to therein; or (c) were required to be notified to the Company and the Stock Exchange pursuant to the Model Code, were as follows:

董事及最高行政人員於證券的權 益

於二零二零年十二月三十一日,本公司董事及最高 行政人員於本公司及相聯法團(定義見證券及期貨 條例第XV部)股份、相關股份及債券中擁有(a)根據 證券及期貨條例第XV部第7及第8分部須知會本公 司及聯交所(包括根據證券及期貨條例的條文,被 當作或視為擁有的權益或淡倉);(b)或根據證券及 期貨條例第352條須記入該條例所指的登記冊中; (c)或根據標準守則須知會本公司及聯交所的權益或 淡倉如下:

Interest in Shares or Underlying Shares of our Company

於本公司股份或相關股份的權益

			Approximate
			percentage of the
		Number of ordinary	Company's issued
Name of Director	Nature of Interest	shares interested(1)	share capital
		擁有權益的	佔本公司已發行
董事姓名	權益性質	普通股數目(1)	股本的概約百分比
Mr. LU Yuanfeng(2)	Interest in controlled corporation; interest of spouse; interest held jointly with another person	947,958,387 (L)	47.40%
陸源峰先生(2)	受控制法團權益、配偶權益、與另一人士共同 持有的權益
Mr. HUANG Guozhan(3)	Interest in controlled corporation; interest held jointly with another person	947,958,387 (L)	47.40%
黃國湛先生(3)	受控制法團權益、與另一人士共同持有的權益
Mr. HUANG Deqiang(4)	Interest in controlled corporation; interest held jointly with another person	947,958,387 (L)	47.40%
黃德強先生(4)	受控制法團權益、與另一人士共同持有的權益

DIRECTORS' REPORT (Continued) 董事會報告(續)

Notes:

Note:

• (1) The letter "L" denotes the person's long position in the Shares.
• (2) Under the SFO, Mr. LU Yuanfeng is deemed to be interested in all Shares held by LYF Digital Holdings Limited, a company which is wholly owned by him. Mr. LU Yuanfeng is also deemed to be interested in all Shares held by (i) Ms. LUO Simin as Ms. LUO Simin is the spouse of Mr. LU Yuanfeng; and (ii) Mr. HUANG Guozhan and Mr. HUANG Deqiang as they are parties acting in concert.
• (3) Under the SFO, Mr. HUANG Guozhan is deemed to be interested in all Shares held by (i) LXT Digital Holdings Limited, a company which is wholly owned by him; and (ii) Mr. LU Yuanfeng, Ms. LUO Simin and Mr. HUANG Deqiang as they are parties acting in concert.
• (4) Under the SFO, Mr. HUANG Deqiang is deemed to be interested in all Shares held by (i) HDQ Digital Holdings Limited, a company which is wholly owned by him; and (ii) Mr. LU Yuanfeng, Ms. LUO Simin and Mr. HUANG Guozhan as they are parties acting in concert.

Interest in associated corporation

附註:

• (1) 字母「L」指該人士於股份的好倉。
• (2) 根據證券及期貨條例,陸源峰先生被視為於LYF Digital Holdings Limited(彼全資擁有的公司)所持全 部股份中擁有權益。陸源峰先生亦被視為於(i)駱思 敏女士(由於駱思敏女士為陸源峰先生的配偶);及 (ii)黃國湛先生及黃德強先生(由於彼等為一致行動人 士)所持有的全部股份中擁有權益。
• (3) 根據證券及期貨條例,黃國湛先生被視為於(i)LXT Digital Holdings Limited(彼全資擁有的公司);及 (ii)陸源峰先生、駱思敏女士及黃德強先生(由於彼等 為一致行動人士)所持全部股份中擁有權益。
• (4) 根據證券及期貨條例,黃德強先生被視為於(i)HDQ Digital Holdings Limited(彼全資擁有的公司);及 (ii)陸源峰先生、駱思敏女士及黃國湛先生(由於彼等 為一致行動人士)所持全部股份中擁有權益。

於相聯法團的權益

Name of Director 董事姓名	Associated Corporation 相關法團	Capacity/nature of interest 身份╱權益性質	Number of Shares 股份數目	Approximate percentage of shareholding interest 概約股權百分比
Mr. LU Yuanfeng 陸源峰先生	LYF Digital Holdings Limited LYF Digital Holdings Limited	Beneficial owner 實益擁有人	100	100%
Mr. HUANG Guozhan 黃國湛先生	LXT Digital Holdings Limited LXT Digital Holdings Limited	Beneficial owner 實益擁有人	100	100%
Mr. HUANG Deqiang 黃德強先生	HDQ Digital Holdings Limited HDQ Digital Holdings Limited	Beneficial owner 實益擁有人	100	100%
		附註:

• (1) Under the SFO, a holding company is regarded as an "associated corporation." As of December 31, 2020, LYF Digital Holdings Limited, LXT Digital Holdings Limited and HDQ Digital Holdings Limited held 27.64%, 2.85% and 4.91% of our issued share capital, respectively, and thus are our associated corporations.
• (1) 根據證券及期貨條例,控股公司被視為「相聯法 團」。截至二零二零年十二月三十一日,LYF Digital Holdings Limited、LXT Digital Holdings Limited及 HDQ Digital Holdings Limited分別持有我們的已發 行股本的27.64%、2.85%及4.91%,因此是我們的 相聯法團。

董事會報告(續)

Save as disclosed above and in the section headed "Post-IPO Share Option Scheme" and to the best knowledge of the Directors, as at December 31, 2020, none of the Directors or the chief executive of the Company has any interests and/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 to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions which he/she was taken or deemed to have under such provisions of the SFO) or which were required, pursuant to section 352 of the SFO, to be entered in the register referred to therein or which were required, pursuant to the Model Code, to be notified to the Company and the Stock Exchange.

除上文及「首次公開發售後購股權計劃」一節披露者 及據董事所深知,於二零二零年十二月三十一日, 概無本公司董事或最高行政人員於本公司及其相聯 法團(定義見證券及期貨條例第XV部)的股份、相 關股份及債券中擁有根據證券及期貨條例第XV部第 7及第8分部須知會本公司及聯交所(包括根據證券 及期貨條例的條文,被當作或視為擁有的權益或淡 倉)、根據證券及期貨條例第352條須記入該條例所 指的登記冊中及根據標準守則須知會本公司及聯交 所的權益及╱或淡倉。

SUBSTANTIAL SHAREHOLDERS' INTERESTS IN SECURITIES

As at December 31, 2020, the following corporations/persons had interests of 5% or more in the issued shares of the Company according to the register of interests required to be kept by the Company under section 336 of the SFO:

主要股東於證券的權益

於二零二零年十二月三十一日,按本公司根據證券 及期貨條例第336條須存置的權益登記冊所記錄, 以下法團╱人士擁有本公司已發行股份5%或以上 的權益:

			Approximate
			percentage of
			the Company's
		Number of ordinary	issued share
		shares interested(1)	capital
Name of Shareholder	Nature of Interest	擁有權益的	佔本公司已發行
股東姓名╱名稱	權益性質	普通股數目(1)	股本的概約百分比
Mr. LU Yuanfeng(2)	Interest in a controlled corporation;	947,958,387 (L)	47.40%
	interests of spouse; interest held
	jointly with another person
陸源峰先生(2)	受控制法團權益;配偶權益;與另一人士
	共同持有的權益
LYF Digital Holdings Limited	Beneficial owner; interests held	947,958,387 (L)	47.40%
	jointly with another person
LYF Digital Holdings Limited	實益擁有人;與另一人士共同持有的權益
Ms. LUO Simin(3)	Interest in a controlled corporation;	947,958,387 (L)	47.40%
	interests of spouse; interest held
	jointly with another person
駱思敏女士(3)	受控制法團權益;配偶權益;與另一人士
	共同持有的權益

董事會報告(續)

			Approximate percentage of the Company's
		Number of ordinary	issued share
		shares interested(1)	capital
Name of Shareholder	Nature of Interest	擁有權益的	佔本公司已發行
股東姓名╱名稱	權益性質	普通股數目(1)	股本的概約百分比
Angel Age Limited	Beneficial owner; interests held	947,958,387 (L)	47.40%
	jointly with another person
Angel Age Limited	實益擁有人;與另一人士共同持有的權益
Mr. HUANG Guozhan(4)	Interest in a controlled corporation; interest held jointly with another person	947,958,387 (L)	47.40%
黃國湛先生(4)	受控制法團權益;與另一人士共同持有的權益
LXT Digital Holdings Limited	Beneficial owner; interests held jointly with another person	947,958,387 (L)	47.40%
LXT Digital Holdings Limited	實益擁有;與另一人士共同持有的權益
Mr. HUANG Deqiang(5)	Interest in a controlled corporation;	947,958,387 (L)	47.40%
黃德強先生(5)	interest held jointly with another person 受控制法團權益;與另一人士共同持有的權益
HDQ Digital Holdings Limited	Beneficial owner; interests held jointly with another person	947,958,387 (L)	47.40%
HDQ Digital Holdings Limited	實益擁有人;與另一人士共同持有的權益
7Road Holdings	Beneficial owner	294,144,901 (L)	14.71%
第七大道控股	實益擁有人
The Core Trust Company Limited(6)	Trustee	146,087,189 (L)	7.30%
The Core Trust Company Limited(6)	受託人
Epic City Limited(6)	Nominee for another person	146,087,189 (L)	7.30%
Epic City Limited(6)	另一人士的代名人

董事會報告(續)

Notes:

• (1) The letter "L" denotes the person's long position in the Shares.
• (2) Under the SFO, Mr. LU Yuanfeng is deemed to be interested in all Shares held by LYF Digital Holdings Limited, a company which is wholly owned by him. Mr. LU Yuanfeng is also deemed to be interested in all Shares held by (i) Ms. LUO Simin as Ms. LUO Simin is the spouse of Mr. LU Yuanfeng; and (ii) Mr. HUANG Guozhan and Mr. HUANG Deqiang, as they are parties acting in concert.
• (3) Under the SFO, Ms. LUO Simin is deemed to be interested in all Shares held by Angel Age Limited, a company which is wholly owned by her. Ms. LUO Simin is also deemed to be interested in all Shares held by (i) Mr. LU Yuanfeng as Mr. LU Yuanfeng is the spouse of Ms. LUO Simin; and (ii) Mr. HUANG Guozhan and Mr. HUANG Deqiang, as they are parties acting in concert.
• (4) Under the SFO, Mr. HUANG Guozhan is deemed to be interested in all Shares held by (i) LXT Digital Holdings Limited, a company which is wholly owned by him; and (ii) Mr. LU Yuanfeng, Ms. LUO Simin and Mr. HUANG Deqiang as they are parties acting in concert.
• (5) Under the SFO, Mr. HUANG Deqiang is deemed to be interested in all Shares held by (i) HDQ Digital Holdings Limited, a company which is wholly owned by him; and (ii) Mr. LU Yuanfeng, Ms. LUO Simin and Mr. HUANG Guozhan as they are parties acting in concert.
• (6) The Core Trust Company Limited, being the trustee of Post-IPO Share Option Scheme, directly holds the entire issued share capital of Epic City Limited, which holds Shares underlying the options to be granted under the scheme for the benefit of eligible participants pursuant to such scheme.

Save as disclosed above and to the best knowledge of the Directors, as at December 31, 2020, no person had registered an interest or a short position in the shares or underlying shares of the Company as recorded in the register required to be kept by the Company under section 336 of the SFO.

附註:

• (1) 字母「L」表示該人士於股份中的好倉。
• (2) 根據證券及期貨條例,陸源峰先生被視為於LYF Digital Holdings Limited(彼全資擁有的公司)持有的 全部股份中擁有權益。陸源峰先生亦被視為於(i)駱 思敏女士(由於駱思敏女士為陸先生的配偶)及(ii)黃 國湛先生及黃德強先生(由於彼等為一致行動人士) 持有的全部股份中擁有權益。
• (3) 根據證券及期貨條例,駱思敏女士被視為於Angel Age Limited(彼全資擁有的公司)持有的全部股份中 擁有權益。駱思敏女士亦被視為於(i)陸源峰先生(由 於陸源峰先生為駱女士的配偶)及(ii)黃國湛先生及黃 德強先生(由於彼等為一致行動人士)持有的全部股 份中擁有權益。
• (4) 根據證券及期貨條例,黃國湛先生被視為於(i)LXT Digital Holdings Limited(彼全資擁有的公司)及(ii) 陸源峰先生、駱思敏女士及黃德強先生(由於彼等為 一致行動人士)持有的全部股份中擁有權益。
• (5) 根據證券及期貨條例,黃德強先生被視為於(i)HDQ Digital Holdings Limited(彼全資擁有的公司)及(ii) 陸源峰先生、駱思敏女士及黃國湛先生(由於彼等為 一致行動人士)持有的全部股份中擁有權益。
• (6) The Core Trust Company Limited(即首次公開發售 後購股權計劃的受託人)直接持有Epic City Limited 的全部已發行股本,而Epic City Limited則根據該計 劃為合資格參與者的利益持有根據該計劃將授出的 購股權涉及的股份。

除上文所披露者外,就董事所深知,於二零二零年 十二月三十一日,並無任何人士擁有本公司根據證 券及期貨條例第336條存置的登記冊所記錄的本公 司股份或相關股份之權益或淡倉。

董事會報告(續)

ARRANGEMENTS TO PURCHASE SHARES OR DEBENTURES

Other than the Post-IPO Share Option Scheme, at no time during FY2020 was the Company, its holding company, or any of its subsidiaries, a party to any arrangement to enable the Directors to acquire benefits by means of the acquisition of Shares in, or debt securities including debentures of, the Company or any other body corporate.

MAJOR SUPPLIERS AND CUSTOMERS

During FY2020, the Group's largest customer accounted for 20.8% of the Group's total revenue. The Group's five largest customers accounted for 69.2% of the Group's total revenue.

During FY2020, the Group's largest supplier accounted for 38.0% of the Group's total purchases. The Group's five largest suppliers accounted for 70.1% of the Group's total purchases.

None of the Directors or any of their close associates (as defined under the Listing Rules) or any Shareholders (which, to the best knowledge of the Directors, owns more than 5% of the Company's issued share capital) has any beneficial interest in the Group's five largest suppliers or the Group's five largest customers.

TAX RELIEF AND EXEMPTION OF HOLDERS OF LISTED SECURITIES

The Company is not aware of any tax relief or exemption available to the Shareholders of the Company by reason of their holding of the Company's securities.

購買股份或債權證安排

除首次公開發售後購股權計劃外,本公司、其控股 公司或任何附屬公司概無於二零二零財政年度內任 何時間訂立任何安排,致使董事可透過購買本公司 或任何其他法人團體股份或債務證券(包括債權證) 而獲益。

主要供應商及客戶

於二零二零財政年度內,本集團的最大客戶佔本集 團總收入20.8%。本集團的五大客戶佔本集團總收 入69.2%。

於二零二零財政年度內,本集團的最大供應商佔本 集團採購總額38.0%。本集團的五大供應商佔本集 團採購總額70.1%。

概無董事或其任何緊密聯繫人(定義見上市規則)或 任何據董事所深知擁有本公司已發行股本多於5% 的股東於本集團的五大供應商或五大客戶擁有任何 實益權益。

上市證券持有人的稅務優惠或豁 免

本公司並不知悉本公司股東因持有本公司證券而可 獲得的任何稅務優惠或豁免。

董事會報告(續)

HUMAN RESOURCES

As at December 31, 2020, the Group had 175 employees (December 31, 2019: 187), 63 of which were responsible for game development and maintenance, 84 for game operation and offline events organisation, and 28 for general administration and corporate management. The total remuneration expenses, excluding share-based compensation expense, for FY2020 were approximately US\$4.1 million, representing a decrease of approximately 8.9% as compared to FY2019. The Group enters into employment contracts with its employees to cover matters such as position, term of employment, wage, employee benefits and liabilities for breaches and grounds for termination.

Remuneration of the Group's employees includes basic salaries, allowances, bonus, share options and other employee benefits, and is determined with reference to their experience, qualifications and general market conditions. The emolument policy for the employees of the Group is set up by the Board on the basis of their merit, qualification and competence. We provide regular training to our employees in order to improve their skills and knowledge. The training courses range from further educational studies to skill training to professional development courses for management personnel.

RETIREMENT BENEFITS SCHEME

The Group's employees in Hong Kong have all participated in the Mandatory Provident Fund in Hong Kong. The employees of the PRC subsidiaries are members of the state-managed retirement benefits scheme operated by the PRC government. The employees of the PRC subsidiaries are required to contribute a certain percentage of their payroll to the retirement benefits scheme to fund the benefits. The only obligation of the Group with respect to this retirement benefits scheme is to make the required contributions under the scheme.

Details of the pension obligations of the Company are set out in Note 24 to the consolidated financial statements of this annual report.

人力資源

於二零二零年十二月三十一日,本集團聘有175名 僱員(二零一九年十二月三十一日:187名),其中 63名負責遊戲開發及維護,84名負責遊戲營運及 線下活動統籌,而28名負責行政及企業管理。二零 二零財政年度的總薪酬開支(不包括以股份為基礎 薪酬開支)約為4.1百萬美元,較二零一九財政年度 減少約8.9%。本集團與僱員訂立僱傭合約,訂明職 位、僱用年期、工資、僱員福利、違約責任及終止 理由等事宜。

本集團僱員的薪酬包括基本薪金、津貼、花紅、購 股權及其他僱員福利,並參考彼等之經驗、資歷及 一般市場狀況釐定。本集團僱員的薪酬政策由董事 會根據僱員的長處、資歷及能力而制定。我們向僱 員提供定期培訓,以改善他們的技巧及知識。培訓 課程涵蓋持續教育進修至技能訓練,並為管理人員 提供專業發展課程。

退休福利計劃

本集團香港僱員均參與了香港強制性公積金。中國 附屬公司的僱員均為中國政府運作的國家管理退休 福利計劃成員。中國附屬公司的僱員須按其薪酬的 若干百分比向退休福利計劃供款,以撥付有關福利 所需的款項。就此退休福利計劃而言,本集團的唯 一責任乃根據該計劃作出規定的供款。

本公司退休金責任詳情載於本年報合併財務報表附 註24。

董事會報告(續)

RELATED PARTY TRANSACTIONS

Details of the related party transactions of the Group for FY2020 are set out in consolidated financial statements contained herein. The related party transactions did not constitute connected transactions or continuing connected transactions under Chapter 14A of the Listing Rules.

SUFFICIENCY OF PUBLIC FLOAT

According to the information that is publicly available to the Company and within the knowledge of the Board, as at the date of this annual report, the Company has maintained the public float as required under the Listing Rules.

INDEMNITY OF DIRECTORS

A permitted indemnity provision (as defined in the Hong Kong Companies Ordinance) in relation to the Director's and officer's liability insurance is currently in force and was in force during FY2020.

CORPORATE GOVERNANCE

The Company recognizes the importance of good corporate governance for enhancing the management of the Company as well as preserving the interests of the Shareholders as a whole. The Company has adopted the code provisions set out in the CG Code as its own code to govern its corporate governance practices.

In the opinion of the Directors, the Company has complied with the relevant code provisions contained in the CG Code during FY2020, save for deviation from code provision A.2.1 of the CG Code for FY2020. Please refer to the section headed "Board of Directors" in the Corporate Governance Report on pages 38 to 41 of this annual report for details.

The Board will continue to review and monitor the practices of the Company with an aim to maintaining a high standard of corporate governance.

Information on the corporate governance practices adopted by the Company is set out in the Corporate Governance Report on pages 37 to 52 of this annual report.

關聯方交易

有關本集團二零二零財政年度關聯方交易的詳情載 於本年報合併財務報表。該等關聯方交易概不構成 上市規則第14A章項下所界定之關連交易或持續關 連交易。

足夠公眾持股量

根據本公司所獲得的公開資料及就董事會所知,於 本年度報告日期,本公司已維持上市規則規定的公 眾持股量。

董事的彌償保證

於目前及二零二零財政年度均已就有關董事及高級 職員的責任保險實施獲准許的彌償條文(定義見香 港公司條例)。

企業管治

本公司肯定良好企業管治對改善本公司管理及保護 整體股東利益的重要性。本集團已採納載於企業管 治守則的守則條文,作為管治其企業管治常規的守 則。

董事認為,於二零二零財政年度內,本公司已遵守 企業管治守則所載相關守則條文,惟二零二零財政 年度偏離企業管治守則條文第A.2.1條除外。有關 詳情,請參閱本年報第38至41頁企業管治報告「董 事會」一節。

董事會將繼續檢討及監察本公司運作,旨在維持高 企業管治水平。

有關本公司所採納的企業管治常規的資料,載於本 年報第37至52頁的企業管治報告。

董事會報告(續)

DONATIONS

Since the COVID-19 Outbreak in early 2020, a series of precautionary and control measures have been and continued to be implemented across China and other countries in the world. To shoulder our social responsibilities and offer humanitarian support, the Group has promptly launched an assistance scheme in response to the COVID-19 Outbreak. Under this scheme, the Group has mobilised its global subsidiaries to procure medical masks, protective gowns and other medical supplies and has donated the same to medical institutions, government bodies, and charitable organisations in countries in the world.

Save as disclosed above, during FY2020, the Group did not make any charitable donations.

AUDITOR

The consolidated financial statements for FY2020 have been audited by PricewaterhouseCoopers, who retire and, being eligible, offer themselves for re-appointment at the forthcoming 2021 AGM.

There has been no change in auditor of the Company since the Listing Date.

COMPLIANCE WITH LAWS AND REGULATIONS

For FY2020, the Company has complied with the relevant laws and regulations that have a significant impact on the Company.

On behalf of the Board LU Yuanfeng Chairman and Chief Executive Officer

Hong Kong, March 30, 2021

捐款

自COVID-19疫情於二零二零年初爆發以來,相關 防控工作在中國乃至全世界範圍持續進行著。為 了承擔我們的社會責任並提供人道主義支援,本集 團迅速啟動了一項援助計劃,以應對COVID-19疫 情。根據該計劃,本集團動員其全球子公司採購醫 用口罩、防護服和其他醫療用品,並將其捐贈給全 球各國的醫療機構、政府組織及慈善團體。

除上文披露者外,於二零二零財政年度,本集團並 無作出任何慈善捐款。

核數師

本公司二零二零財政年度的合併財務報表經羅兵咸 永道會計師事務所審核,而該核數師將於即將舉行 的二零二一年股東週年大會上退任,惟符合資格並 願意獲重新委任。

本公司自上市日期起沒有更換核數師。

法律及法規合規情況

於二零二零財政年度,本公司已遵守對本公司有重 大影響的相關法律及法規。

代表董事會 陸源峰 主席兼首席執行官

香港,二零二一年三月三十日

Independent Auditor's Report 獨立核數師報告

To the Shareholders of Digital Hollywood Interactive Limited (incorporated in the Cayman Islands with limited liability)

OPINION

What we have audited

The consolidated financial statements of Digital Hollywood Interactive Limited (the "Company") and its subsidiaries (the "Group") set out on pages 113 to 224, which comprise:

• the consolidated balance sheet as at December 31, 2020;
• the consolidated statement of comprehensive income for the year then ended;
• the consolidated statement of changes in equity for the year then ended;
• the consolidated statement of cash flows for the year then ended; and
• the notes to the consolidated financial statements, which include a summary of significant accounting policies.

Our opinion

In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at December 31, 2020, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards ("IFRSs") and have been properly prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance.

致遊萊互動集團有限公司股東

(於開曼群島註冊成立的有限公司)

意見 我們已審計的內容

遊萊互動集團有限公司(以下簡稱「貴公司」)及其附 屬公司(以下統稱「貴集團」)列載於第113至224頁 的合併財務報表,包括:

• 於二零二零年十二月三十一日的合併資產負債 表;
• 截至該日止年度的合併全面收益表;
• 截至該日止年度的合併權益變動表;
• 截至該日止年度的合併現金流量表;及
• 合併財務報表附註,包括主要會計政策概要。

我們的意見

我們認為,該等合併財務報表已根據《國際財務報 告準則》真實而中肯地反映了 貴集團於二零二零 年十二月三十一日的財務狀況及其截至該日止年度 的合併財務表現及合併現金流量,並已遵照香港 《公司條例》的披露規定妥為擬備。

獨立核數師報告(續)

BASIS FOR OPINION

We conducted our audit in accordance with International Standards on Auditing ("ISAs"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Statements section of our report.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Independence

We are independent of the Group in accordance with the International Code of Ethics for Professional Accountants (including International Independence Standards) issued by the International Ethics Standards Board for Accountants ("IESBA Code"), and we have fulfilled our other ethical responsibilities in accordance with the IESBA Code.

KEY AUDIT MATTERS

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Key audit matter identified in our audit is summarised as follows:

• Revenue recognition – estimates of lifespan of in-game virtual items with reference to expected playing period of paying players in the Group's online game service

意見的基礎

我們已根據《國際審計準則》進行審計。我們在該等 準則下承擔的責任已在本報告「核數師就審計合併 財務報表須承擔的責任」部份中作進一步闡述。

我們相信,我們所獲得的審計憑證能充足及適當地 為我們的審計意見提供基礎。

獨立性

根據國際會計師職業道德準則理事會頒佈的《國際 會計師職業道德守則》(包含國際獨立性標準)(以下 簡稱「道德守則」),我們獨立於 貴集團,並已履 行道德守則中的其他職業道德責任。

關鍵審計事項

關鍵審計事項是根據我們的專業判斷,認為對本期 合併財務報表的審計最為重要的事項。這些事項是 在我們審計整體合併財務報表及出具意見時進行處 理的。我們不會對這些事項提供單獨的意見。

我們在審計中識別的關鍵審計事項概要如下:

• 收入確認-參考 貴集團的遊戲產品服務中 玩家關係持續時間,估計遊戲虛擬道具的使用 壽命。

獨立核數師報告(續)

Key Audit Matter 關鍵審計事項

Revenue recognition – estimates of lifespan of in-game virtual items with reference to expected playing period of paying players ("Player Relationship Period") in the Group's online game service

收入確認-參考 貴集團的遊戲產品服務中玩家關係持續時間 (「玩家關係期」),估計遊戲虛擬道具的使用壽命。

Refer to Note 5 to the consolidated financial statements 請參閱合併財務報表附註5。

During the year ended December 31, 2020, the Group's revenue from online games amounted to USD17,537,512, representing 99.9% of the Group's total revenue. It was mainly derived from the sales of in-game virtual items. The amount of associated contract liabilities amounted to USD1,765,490, as at December 31, 2020, representing 15.8% of the Group's total liabilities as at that date.

截至二零二零年十二月三十一日止年度, 貴集團來自網絡遊戲 的收入為17,537,512美元,佔 貴集團總收入的99.9%。收入 主要來自銷售遊戲虛擬道具。於二零二零年十二月三十一日相 關的合約負債金額為1,765,490美元,佔 貴集團於該日的總負 債15.8%。

How our audit addressed the Key Audit Matter 我們的審計如何處理關鍵審計事項

We understood, evaluated and validated the key controls in relation to the recognition of revenue from in-game virtual items, including oversight exercised by management in assessing the Player Relationship Period and computing the monthly revenue of game virtual items performed by management; inspection of evidence of management's review; testing of the integrity and system logic of data and information for supporting the determination of the Player Relationship Period, on a sample basis.

我們了解、評估和驗證有關確認來自遊戲虛擬道具的收入之主要 監控,包括管理層評估玩家關係期及計算遊戲虛擬道具的每月收 入時管理層所進行的監督;檢查管理層進行審閱的證據;以抽樣 方式測試用作支持釐定玩家關係期的數據及資料的完整性及系統 邏輯性。

We discussed with management and evaluated their judgements and estimations made in determining the Player Relationship Period for each game. We also assessed the accuracy of the management's judgements and estimations by comparing to historical patterns on a sample basis.

我們曾與管理層討論,並評價了彼等就每個遊戲釐定玩家關係期 所作的判斷及假設。我們亦透過以抽樣方式與歷史模式作比較, 評估了管理層所作判斷及估計的準確性。

獨立核數師報告(續)

Key Audit Matter 關鍵審計事項

The Group's in-game virtual items are categorised as both consumable virtual items and durable items. Revenue derived from consumable items in its online game service are recognised once they are consumed. Revenue derived from durable virtual items in its online game services are recognised ratably over the lifespan of durable virtual items with reference to Player Relationship Period (defined in Note 2.19), on a game by game basis. If the Group does not have the ability to differentiate revenue attributable to durable items from consumable items for a specific game, the Group recognises revenue from both durable and consumable items for that game ratably over the Player Relationship Period. During the year ended December 31, 2020, all ingame virtual items were treated as durable items by the Group.

貴集團的遊戲虛擬道具歸類為消耗類虛擬道具及耐用類虛擬道 具。來自其網絡遊戲服務內消耗類道具的收入乃於消耗時確 認。來自其網絡遊戲服務內耐用類虛擬道具的收入,乃以逐個 遊戲為基準,參考玩家關係期(定義見附註2.19)於耐用類虛擬 道具的使用壽命內按比例確認。倘就某特定遊戲而言, 貴集團 無法分辨收入乃來自耐用類道具還是消耗類道具,則 貴集團 就該遊戲於玩家關係期內,按比例確認來自耐用及消耗類道具 兩者的收入。於截至二零二零年十二月三十一日止年度,所有 遊戲虛擬道具均被 貴集團視為耐用類道具。

The determination of the Player Relationship Period for relevant game virtual items requires significant judgement and estimates. It is made taking into account all known and relevant information available to the Group at the time of assessment. Thus, specific audit focus was placed in this area.

就相關遊戲虛擬道具釐定玩家關係期,須作出重大判斷及估 計,而此乃考慮到 貴集團於進行評估當時可得的相關資料作 出。因此,此方面屬於特別審計關注重點。

How our audit addressed the Key Audit Matter 我們的審計如何處理關鍵審計事項

We also recalculated the contract liabilities balance based on the respective Player Relationship Period of each game on a sample basis.

我們已以抽樣方式,根據每個遊戲各自的玩家關係期重新計算 了合約負債結餘。

Based on the above, we found that the significant judgement and estimates involved in determining the Player Relationship Period adopted by management in the revenue recognition of in-game virtual items of the Group were supported by the evidence we obtained.

基於以上理據,我們發現管理層釐定就 貴集團的遊戲虛擬道 具作收入確認時採納的玩家關係期所作之重大判斷及估計,得 到我們所獲提供證據的支持。

獨立核數師報告(續)

OTHER INFORMATION

The directors of the Company are responsible for the other information. The other information comprises all of the information included in the annual report other than the consolidated financial statements and our auditor's report thereon.

Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

RESPONSIBILITIES OF DIRECTORS AND THOSE CHARGED WITH GOVERNANCE FOR THE CONSOLIDATED FINANCIAL STATEMENTS

The directors of the Company are responsible for the preparation of the consolidated financial statements that give a true and fair view in accordance with IFRSs and the disclosure requirements of the Hong Kong Companies Ordinance, and for such internal control as the directors determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the consolidated financial statements, the directors are responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.

Those charged with governance is responsible for overseeing the Group's financial reporting process.

其他信息

貴公司董事須對其他信息負責。其他信息包括年報 內的所有信息,但不包括合併財務報表及我們的核 數師報告。

我們對合併財務報表的意見並不涵蓋其他信息,我 們亦不對該等其他信息發表任何形式的鑑證結論。

就我們對合併財務報表的審計,我們的責任是閱讀 其他信息,在此過程中,考慮其他信息是否與合併 財務報表或我們在審計過程中所了解的情況存在重 大抵觸或者似乎存在重大錯誤陳述的情況。

基於我們已執行的工作,如果我們認為其他信息存 在重大錯誤陳述,我們需要報告該事實。在這方 面,我們沒有任何報告。

董事及負責管治的人員就合併財 務報表須承擔的責任

貴公司董事須負責根據《國際財務報告準則》及香港 《公司條例》的披露規定擬備真實而中肯的合併財務 報表,並對其認為為使合併財務報表的擬備不存在 由於欺詐或錯誤而導致的重大錯誤陳述所必需的內 部控制負責。

在擬備合併財務報表時,董事負責評估 貴集團持 續經營的能力,並在適用情況下披露與持續經營有 關的事項,以及使用持續經營為會計基礎,除非董 事有意將 貴集團清盤或停止經營,或別無其他實 際的替代方案。

負責管治的人員須負責監督 貴集團的財務報告過 程。

遊萊互動集團有限公司 二零二零年年報 109

獨立核數師報告(續)

AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. We report our opinion solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with ISAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

核數師就審計合併財務報表須承 擔的責任

我們的目標,是對合併財務報表整體是否不存在由 於欺詐或錯誤而導致的重大錯誤陳述取得合理保 證,並出具包括我們意見的核數師報告。我們僅 向 閣下(作為整體)報告我們的意見,除此之外本 報告別無其他目的。我們不會就本報告的內容向任 何其他人士負上或承擔任何責任。合理保證是高水 平的保證,但不能保證按照《國際審計準則》進行的 審計,在某一重大錯誤陳述存在時總能發現。錯誤 陳述可以由欺詐或錯誤引起,如果合理預期它們單 獨或匯總起來可能影響合併財務報表使用者依賴合 併財務報表所作出的經濟決定,則有關的錯誤陳述 可被視作重大。

在根據《國際審計準則》進行審計的過程中,我們運 用了專業判斷,保持了專業懷疑態度。我們亦:

• 識別和評估由於欺詐或錯誤而導致合併財務報 表存在重大錯誤陳述的風險,設計及執行審計 程序以應對這些風險,以及獲取充足和適當的 審計憑證,作為我們意見的基礎。由於欺詐可 能涉及串謀、偽造、蓄意遺漏、虛假陳述,或 凌駕於內部控制之上,因此未能發現因欺詐而 導致的重大錯誤陳述的風險高於未能發現因錯 誤而導致的重大錯誤陳述的風險。
• 了解與審計相關的內部控制,以設計適當的審 計程序,但目的並非對 貴集團內部控制的有 效性發表意見。
• 評價董事所採用會計政策的恰當性及作出會計 估計和相關披露的合理性。

獨立核數師報告(續)

• Conclude on the appropriateness of the directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

We communicate with the those charged with governance, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.

• 對董事採用持續經營會計基礎的恰當性作出結 論。根據所獲取的審計憑證,確定是否存在與 事項或情況有關的重大不確定性,從而可能導 致對 貴集團的持續經營能力產生重大疑慮。 如果我們認為存在重大不確定性,則有必要在 核數師報告中提請使用者注意合併財務報表中 的相關披露。假若有關的披露不足,則我們應 當發表非無保留意見。我們的結論是基於核數 師報告日止所取得的審計憑證。然而,未來事 項或情況可能導致 貴集團不能持續經營。
• 評價合併財務報表的整體列報方式、結構和內 容,包括披露,以及合併財務報表是否中肯反 映相關交易和事項。
• 就 貴集團內實體或業務活動的財務信息獲取 充足、適當的審計憑證,以便對合併財務報表 發表意見。我們負責 貴集團審計的方向、監 督和執行。我們為審計意見承擔全部責任。

除其他事項外,我們與負責管治的人員就計劃的審 計範圍、時間安排、重大審計發現等進行了溝通, 包括我們在審計中識別出內部控制的任何重大缺 陷。

我們亦向負責管治的人員提交聲明,說明我們已符 合有關獨立性的相關專業道德要求,並與他們就有 可能合理地被認為會影響我們獨立性的所有關係和 其他事項,以及在適用的情況下用以消除對獨立性 產生威脅的行動或採取的防範措施進行了溝通。

遊萊互動集團有限公司 二零二零年年報 111

獨立核數師報告(續)

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partner on the audit resulting in this independent auditor's report is Fong Wan Huen.

從與負責管治的人員溝通的事項中,我們確定哪些 事項對本期合併財務報表的審計最為重要,因而構 成關鍵審計事項。我們在核數師報告中描述這些事 項,除非法律法規不允許公開披露這些事項,或在 極端罕見的情況下,如果合理預期在我們報告中溝 通某事項造成的負面後果超過產生的公眾利益,我 們決定不應在報告中溝通該事項。

出具本獨立核數師報告的審計項目合夥人是方蘊 萱。

PricewaterhouseCoopers Certified Public Accountants

Hong Kong, March 30, 2021

羅兵咸永道會計師事務所 執業會計師

香港,二零二一年三月三十日

Consolidated Balance Sheet 合併資產負債表

As at December 31, 2020 於二零二零年十二月三十一日

			2020	2019
			二零二零年	二零一八年
		Note	USD	USD
		附註	美元	美元
ASSETS	資產
Non-current assets	非流動資產
Property, plant and equipment	物業、廠房及設備	6	1,743,556	1,975,917
Right-of-use assets	使用權資產	7	1,633,824	1,843,078
Intangible assets	無形資產	8	418,830	1,862,822
Prepayments and other receivables	預付款及其他應收款項	15	3,714,391	3,881,573
Deferred income tax assets	遞延所得稅資產	13	–	11,779
Financial assets at fair value through	以公允價值計量且其變動
other comprehensive income	計入其他全面收益的
	金融資產	9	1,164,245	963,185
			8,674,846	10,538,354
Current assets	流動資產
Contract costs	合約成本	5	616,740	771,402
Trade receivables	貿易應收款項	14	1,282,604	2,234,622
Prepayments and other receivables	預付款及其他應收款項	15	13,783,691	20,471,647
Short-term deposits	短期存款	16	5,000,000	–
Cash and cash equivalents	現金及現金等價物	16	26,914,401	25,320,274
			47,597,436	48,797,945
Total assets	總資產		56,272,282	59,336,299
EQUITY AND LIABILITIES	權益及負債
Equity attributable to owners	本公司擁有人應佔權益
of the Company
Share capital	股本	17	2,000,000	2,000,000
Shares held for the Share Option Scheme	就購股權計劃持有的股份	17	(144,224)	(147,560)
Reserves	儲備	18	39,569,808	38,104,404
Retained earnings	保留盈利		3,679,904	7,318,884
Total equity	總權益		45,105,488	47,275,728

Consolidated Balance Sheet (Continued)

合併資產負債表(續)

As at December 31, 2020 於二零二零年十二月三十一日

			2020	2019
			二零二零年	二零一八年
		Note	USD	USD
		附註	美元	美元
Liabilities	負債
Non-current liabilities	非流動負債
Lease liabilities	租賃負債	7	1,623,045	1,800,872
Deferred income tax liabilities	遞延所得稅負債	13	–	5,757
			1,623,045	1,806,629
Current liabilities	流動負債
Trade payables	貿易應付款項	20	3,866,255	3,095,087
Contract liabilities	合約負債	5	2,448,797	3,508,007
Lease liabilities	租賃負債	7	295,702	270,123
Other payables and accruals	其他應付款項及應計費用	21	2,721,422	3,057,942
Current income tax liabilities	即期所得稅負債		211,573	322,783
			9,543,749	10,253,942
Total liabilities	總負債		11,166,794	12,060,571
Total equity and liabilities	總權益及負債		56,272,282	59,336,299

The above consolidated balance sheet should be read in conjunction with the accompanying notes.

以上合併資產負債表應與隨附的附註一併閱讀。

The financial statements on pages 113 to 224 were approved by the Board of Directors on March 30, 2021 and were signed on its behalf.

第113至224頁的財務報表已由董事會於二零二一 年三月三十日批准並代為簽署。

Director Director 董事 董事

Consolidated Statement of Comprehensive Income

合併全面收益表

For the year ended December 31, 2020 截至二零二零年十二月三十一日止年度

			2020 二零二零年	2019 二零一九年
		Note	USD	USD
		附註	美元	美元
	收入
Revenue	成本	5	17,550,312	17,918,989
Cost of revenue		23	(8,389,947)	(9,522,439)
Gross profit	毛利		9,160,365	8,396,550
Selling and marketing expenses	銷售及營銷開支	23	(5,419,249)	(4,145,546)
Administrative expenses	行政開支	23	(4,850,805)	(5,700,502)
Research and development expenses	研發開支	23	(1,877,748)	(2,365,790)
Net impairment losses on financial assets	金融資產減值虧損淨額	23	(527,229)	(1,384,675)
Impairment of investment in an associate	於聯營公司的投資之減值	23	–	(652,596)
Other (losses)/gains, net	其他(虧損)╱收益淨額	22	(34,232)	307,106
Operating loss	經營虧損		(3,548,898)	(5,545,453)
Finance income	財務收入	25	224,209	57,075
Finance costs	財務成本	25	(114,026)	(114,612)
Finance income/(costs), net	財務收入╱(成本)淨額	25	110,183	(57,537)
Loss before income tax	除所得稅前虧損		(3,438,715)	(5,602,990)
Income tax expense	所得稅開支	26	(200,265)	(158,816)
Loss for the year	年內虧損		(3,638,980)	(5,761,806)
Other comprehensive income/(loss)	其他全面收益╱(虧損)
Item that may be reclassified subsequently	可能於其後重新分類至
to profit or loss	損益的項目
– Currency translation differences	-貨幣換算差額		599,596	(75,831)
Item that may not be reclassified subsequently	其後未必會重新分類至
to profit or loss	損益的項目
– Changes in fair value of investment in	-以公允價值計量且其變動
equity securities at fair value through	計入其他全面收益的
other comprehensive income	股本證券投資的
	公允價值變動		201,060	(1,685,994)
Total comprehensive loss for the year	年內全面虧損總額		(2,838,324)	(7,523,631)

Consolidated Statement of Comprehensive Income (Continued)

合併全面收益表(續)

For the year ended December 31, 2020 截至二零二零年十二月三十一日止年度

			2020	2019
			二零二零年	二零一九年
		Note	USD	USD
		附註	美元	美元
Loss attributable to:	以下應佔虧損:
Owners of the Company	本公司擁有人		(3,638,980)	(5,761,806)
Total comprehensive loss attributable to:	以下應佔全面虧損總額:
Owners of the Company	本公司擁有人		(2,838,324)	(7,523,631)
Loss per share	每股虧損(以每股美仙列示)
(expressed in USD cents per share)		27
– Basic	-基本		(0.20)	(0.31)
– Diluted	-攤薄		(0.20)	(0.31)
Dividends	股息	28	–	–

The above consolidated statement of comprehensive income should be read in conjunction with the accompanying notes. 以上合併全面收益表應與隨附的附註一併閱讀。

Consolidated Statement of Changes in Equity

合併權益變動表

For the year ended December 31, 2020 截至二零二零年十二月三十一日止年度

			Attributable to owners of the Company
			本公司擁有人應佔
				Shares
				held for
				the Share
			Share	Option		Retained
			capital	Scheme	Reserves	earnings	Total
				就購股權計劃
			股本	持有之股份	儲備	保留盈利	總計
		Note	USD	USD	USD	USD	USD
		附註	美元	美元	美元	美元	美元
Balance at January 1, 2020	於二零二零年
	一月一日的結餘		2,000,000	(147,560)	38,104,404	7,318,884	47,275,728
Loss for the year	年內虧損		–	–	–	(3,638,980)	(3,638,980)
Other comprehensive income	其他全面收益
– net gain from changes in fair	-按公允價值計量且
value of financial assets at fair	其變動計入其他
value through other	全面收益的金融
comprehensive income	資產的公允價值
	變動收益淨額		–	–	201,060	–	201,060
– currency translation differences	-貨幣換算差額	18	–	–	599,596	–	599,596
Total comprehensive gain/(loss)	年內全面收益╱(虧損)
for the year	總額		–	–	800,656	(3,638,980)	(2,838,324)
The Share Option Scheme	購股權計劃
– exercise of share options	-行使購股權		–	3,336	12,068	–	15,404
– value of employee services	-僱員服務價值		–	–	652,680	–	652,680
Balance at December 31, 2020	於二零二零年
	十二月三十一日的結餘		2,000,000	(144,224)	39,569,808	3,679,904	45,105,488

Consolidated Statement of Changes in Equity (Continued)

合併權益變動表(續)

For the year ended December 31, 2020 截至二零二零年十二月三十一日止年度

			Attributable to owners of the Company
			本公司擁有人應佔
				Shares
				held for
				the Share
			Share	Option		Retained
			capital	Scheme	Reserves	earnings	Total
				就購股權計劃
			股本	持有之股份	儲備	保留盈利	總計
		Note 附註	USD 美元	USD 美元	USD 美元	USD 美元	USD 美元
Balance at January 1, 2019	於二零一九年
	一月一日的結餘		2,000,000	(150,000)	38,282,476	13,144,180	53,276,656
Change in accounting policy	會計政策變動		–	–	–	(63,490)	(63,490)
Balance at January 1, 2019, restated	於二零一九年一月一日		2,000,000
	的結餘,經重列			(150,000)	38,282,476	13,080,690	53,213,166
Loss for the year	年內虧損		–	–	–	(5,761,806)	(5,761,806)
Other comprehensive loss	其他全面虧損
– net loss from changes in fair	-按公允價值計量且
value of financial assets at	其變動計入其他
fair value through other	全面收益的金融
comprehensive income	資產的公允價值
	變動虧損淨額 -貨幣換算差額		–	–	(1,685,994)	–	(1,685,994)
– currency translation differences		18	–	–	(75,831)	–	(75,831)
Total comprehensive loss for the year	年內全面虧損總額		–	–	(1,761,825)	(5,761,806)	(7,523,631)
Transaction with owners in their	與擁有人(以擁有人身份)
capacity as owners	的交易
The Share Option Scheme	購股權計劃 -行使購股權
– exercise of share options – value of employee services	-僱員服務價值		– –	2,440 –	6,319 1,577,434	– –	8,759 1,577,434
Balance at December 31, 2019	於二零一九年
	十二月三十一日的結餘		2,000,000	(147,560)	38,104,404	7,318,884	47,275,728

The above consolidated statement of changes in equity should be read in conjunction with the accompanying notes.

以上合併權益變動表應與隨附的附註一併閱讀。

Consolidated Statement of Cash Flows 合併現金流量表

For the year ended December 31, 2020 截至二零二零年十二月三十一日止年度

			2020 二零二零年	2019 二零一九年
		Note	USD	USD
		附註	美元	美元
Cash flows from operating activities	來自經營活動的現金流量
Cash generated from/(used in) from operations	經營所得╱(所用)現金	29	6,998,573	(5,821,374)
Interest received	已收利息		6,045	21,651
Interest paid	已付利息		(114,026)	(114,612)
Income tax refund	退回所得稅		–	133,630
Income tax paid	已付所得稅		(326,513)	(456,224)
Net cash generated from/(used in)	經營活動所得╱(所用)
operating activities	現金淨額		6,564,079	(6,236,929)
Cash flows from investing activities	來自投資活動的現金流量
Purchases of property, plant and equipment	購置物業、廠房及設備		(3,332)	(265,825)
Purchases of intangible assets	購置無形資產		(48,767)	(518,239)
Placement of short-term deposits	存放短期存款		(5,000,000)	–
Net cash used in investing activities	投資活動所用現金淨額		(5,052,099)	(784,064)
Cash flows from financing activities	來自融資活動的現金流量
Exercise of share options	行使購股權		10,587	1,335
Payment for IPO costs	首次公開發售成本付款		(36,400)	(19,327)
Principal elements of lease payments	租賃付款的本金成份		(292,297)	(234,772)
Net cash used in financing activities	融資活動所用現金淨額		(318,110)	(252,764)
Net increase/(decrease) in cash and	現金及現金等價物增加╱
cash equivalents	(減少)淨額		1,193,870	(7,273,757)
Cash and cash equivalents at	年初的現金及現金等價物
beginning of year	現金及現金等價物的匯兌		25,320,274	32,598,242
Exchange gains/(losses) on cash and cash equivalents	收益╱(虧損)		400,257	(4,211)
	年末的現金及現金等價物
Cash and cash equivalents at end of the year			26,914,401	25,320,274

The above consolidated statement of cash flows should be read in conjunction with the accompanying notes. 以上合併現金流量表應與隨附的附註一併閱讀。

遊萊互動集團有限公司 二零二零年年報 119

Notes to the Consolidated Financial Statements 合併財務報表附註

1 GENERAL INFORMATION

Digital Hollywood Interactive Limited (the "Company") was incorporated in the Cayman Islands on November 24, 2014 as an exempted company with limited liability. The address of the Company's registered office is Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands.

The Company is an investment holding company. The Company and its subsidiaries (together, the "Group") are principally engaged in the development, operations and publishing of web-based games and mobile games business ("Game Business") in North America, Europe, The People's Republic of China (the "PRC") and other regions.

On December 15, 2017, the Company completed its initial public offering on the Main Board of The Stock Exchange of Hong Kong Limited (the "IPO").

The financial statements are presented in United States Dollars ("USD"), unless otherwise stated, and have been approved for issue by the Company's Board of Directors on March 30, 2021.

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

This note provides a list of the significant accounting policies adopted in the preparation of these consolidated financial statements. These policies have been consistently applied to all the years presented, unless otherwise stated.

2.1 Basis of preparation

The consolidated financial statements of the Group have been prepared in accordance with International Financial Reporting Standards ("IFRS") and the disclosure requirements of the Hong Kong Companies Ordinance Cap.622. The consolidated financial statements have been prepared under the historical cost basis, except for the financial assets at fair value through other comprehensive income which is measured at fair value.

1 一般資料

遊萊互動集團有限公司(「本公司」)於二零一 四年十一月二十四日在開曼群島註冊成立為 獲豁免有限公司。本公司的註冊辦事處地址 為Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands。

本公司為一家投資控股公司。本公司及其附 屬公司(統稱為「本集團」)主要於北美洲、歐 洲、中華人民共和國(「中國」)及其他地區從 事網頁遊戲及手機遊戲的開發、經營及發行業 務(「遊戲業務」)。

於二零一七年十二月十五日,本公司在香港聯 合交易所有限公司主板完成其首次公開發售 (「首次公開發售」)。

除另有指定外,財務報表以美元(「美元」)呈 列,並已於二零二一年三月三十日由本公司董 事會批准刊發。

2 主要會計政策概要

本附註載列編製此等合併財務報表時採納之主 要會計政策。除另有指定外,該等政策已貫徹 應用於呈列的所有年度。

2.1 編製基準

本集團的合併財務報表乃按國際財務報 告準則(「國際財務報告準則」)及香港公 司條例(第622章)的披露規定編製。合 併財務報表乃根據歷史成本基準編製, 惟按公允價值計量且其變動計入其他全 面收益的金融資產除外。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.1 Basis of preparation (Continued)

The preparation of consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise judgement in the process of applying the Group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 4 below.

2.1.1 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 January 1, 2020:

2 主要會計政策概要(續)

2.1 編製基準(續)

編製符合國際財務報告準則的合併財務 報表要求運用若干重要的會計估計。其 亦要求管理層於應用本集團的會計政策 過程中作出判斷。涉及較多判斷或較大 複雜性的範疇,或當中的假設及估計對 於合併財務報表而言屬重大的範疇,於 下文附註4披露。

2.1.1 本集團採納之新訂及經修訂準則以下準 則的修訂由本集團於二零二零年一月一 日或之後開始的財政年度首次採納:

Conceptual Framework for Financial Reporting 2018

二零一八年財務報告概念框架 經修訂財務報告概念框架

國際財務報告準則第3號(修訂版) 業務的定義

IAS 1 and IAS 8 (Amendment) Definition of Material

國際會計準則第1號及國際會計準則第8號 (修訂版)

國際財務報告準則第9號、國際會計準則第39號及 國際財務報告準則第7號(修訂版)

Amendments to IFRSs effective for the financial year beginning on or after January 1, 2020 do not have a material impact on the Group's accounting policies and did not require retrospective adjustments.

Revised conceptual framework for financial reporting

IFRS 3 (Amendment) Definition of a Business 重要的定義

IFRS 9, IAS 39 and IFRS 7 (Amendment) IBOR Reform and its Effects on Financial Reporting 銀行間拆借利率改革及其對財務報告的影響

於二零二零年一月一日或之後開始的財政年度生效 的國際財務報告準則的修訂,對本集團的會計政策 並無重大影響,亦無需作出追溯調整。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) 2 主要會計政策概要(續)

2.1 Basis of preparation (Continued)

2.1.2 New standards, amendments to existing standards and interpretations not yet adopted

2.1 編製基準(續)

2.1.2 尚未採納的新準則、現有準則 的修訂及詮釋

		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
IFRS 3 (Amendment)	Amendment to IFRS 3 on Reference to the Conceptual	January 1, 2022
	Framework
國際財務報告準則第3號(修訂版)	就概念框架之提述對國際財務報告準則第3號的修訂	二零二二年一月一日
IAS 37 (Amendments)	Amendment to IAS 37 on Cost of Fulfilling a Contract	January 1, 2022
國際會計準則第37號(修訂版)	就履行合約的成本對國際會計準則第37號的修訂	二零二二年一月一日
IAS 16 (Amendments)	Amendment to IAS 16 on Proceeds before Intended Use	January 1, 2022
國際會計準則第16號(修訂版)	就擬定用途前所得款項對國際會計準則第16號的修訂	二零二二年一月一日
IFRS 1, IFRS 9, IFRS 16 and IAS 41	Annual improvements 2018-2020 cycle	January 1, 2022
國際財務報告準則第1號、國際財務報告準則	二零一八年至二零二零年週期之年度改進	二零二二年一月一日
第9號、國際財務報告準則第16號及國際
會計準則第41號
IAS 1 (Amendments)	Amendments to IAS 1 on Classification of liabilities as	January 1, 2023
	current or non-current
國際會計準則第1號(修訂版)	就將負債分類為流動或非流動對國際會計準則第1號的修訂	二零二三年一月一日
IFRS 17	IFRS 17 Insurance contracts.	January 1, 2023
國際財務報告準則第17號	國際財務報告準則第17號保險合約。	二零二三年一月一日
IFRS 10 and IAS 28 (Amendments)	Sale or Contribution of Assets between an Investor and its	To be determined
	Associate or Joint Venture
國際財務報告準則第10號及國際會計準則	投資者與其聯營公司或合營企業之間資產出售或注資	待定
第28號(修訂版)

The Group has already commenced an assessment of the impact of these new or revised standards, and amendments, which are relevant to the Group's operations. According to the preliminary assessment made by the directors, no significant impact on the financial performance and positions of the Group is expected when they become effective.

本集團已開始評估該等新訂或經修 訂準則以及修訂版的影響,當中與 本集團的業務有關。根據董事的初 步評估,預期該等準則及修訂生效 後,將不會對本集團的財務表現及 狀況造成重大影響。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.2 Subsidiaries

2.2.1 Consolidation

A subsidiary is an entity (including structured entities) over which the Group has control. The Group controls an entity when the Group is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are consolidated from the date on which control is transferred to the Group. They are deconsolidated from the date that control ceases.

Intercompany transactions, balances and unrealised gains on transactions between Group companies are eliminated. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the transferred asset. When necessary, amounts reported by subsidiaries have been adjusted to conform with the Group's accounting policies.

(a) Changes in ownership interests in subsidiaries without change of control

Transactions with non-controlling interests that do not result in a loss of control are accounted for as equity transactions – that is, as transactions with the owners of the subsidiary in their capacity as owners. The difference between fair value of any consideration paid and the relevant share acquired of the carrying amount of net assets of the subsidiary is recorded in equity. Gains or losses on disposals to non-controlling interests are also recorded in equity.

2 主要會計政策概要(續)

2.2 附屬公司

2.2.1 合併入賬

附屬公司是指本集團擁有控制權的 實體(包括結構性實體)。當本集團 承受因其於實體的參與而產生的可 變回報,或對該等回報享有權利, 並有能力透過其對該實體的權力影 響該等回報時,則本集團控制該實 體。附屬公司自控制權轉移至本集 團之日起合併入賬,並自控制權終 止之日起取消合併入賬。

集團內公司間的交易、結餘及交易 的未變現收益均予以對銷。未變現 虧損亦予以對銷,除非該項交易 提供已轉讓資產減值的證據則作別 論。如有需要,附屬公司呈報的金 額已作調整,以符合本集團的會計 政策。

(a) 於附屬公司的擁有權權益變 動而控制權不變 與非控股權益的交易若不會 導致喪失控制權,則入賬列 為權益交易-即列為與附屬 公司擁有人(以擁有人身份) 的交易。任何已付代價的公 允價值與所得附屬公司淨資 產賬面值的相關應佔部份之 間的差額,均記錄為權益。 向非控股權益出售產生的收 益或虧損亦記錄為權益。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.2 Subsidiaries (Continued)

2.2.2 Separate financial statements

Investments in subsidiaries are accounted for at cost less impairment. Cost also includes direct attributable costs of investment. The results of subsidiaries are accounted for by the Company on the basis of dividend received and receivable.

Impairment testing of the investments in subsidiaries is required upon receiving dividends from these investments if the dividend exceeds the total comprehensive income of the subsidiary in the period the dividend is declared or if the carrying amount of the investment in the separate financial statements exceeds the carrying amount in the consolidated financial statements of the investee's net assets including goodwill.

2.3 Associates

An associate is an entity over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% and 50% of the voting rights. Investment in an associate is accounted for using the equity method of accounting. Under the equity method, the investment is initially recognised at cost, and the carrying amount is increased or decreased to recognise the investor's share of the profit or loss of the investee after the date of acquisition. The Group's investment in an associate include goodwill identified on acquisition. Upon the acquisition of the ownership interest in an associate, any difference between the cost of the associate and the Group's share of the net fair value of the associate's identifiable assets and liabilities is accounted for as goodwill.

If the ownership interest in an associate is reduced but significant influence is retained, only a proportionate share of the amounts previously recognised in other comprehensive income is reclassified to profit or loss where appropriate.

2 主要會計政策概要(續)

2.2 附屬公司(續)

2.2.2 獨立財務報表 於附屬公司的投資入賬列為成本減 減值。成本亦包括直接應佔投資成 本。附屬公司業績由本公司按已收 及應收股息的基準入賬。

在以下情況,於附屬公司的投資須 於從該等投資收取股息後進行減值 測試:倘股息超過宣派該股息的期 間該附屬公司的全面收益總額,或 倘於獨立財務報表的投資賬面值超 過於合併財務報表內的受投資公司 的淨資產(包括商譽)賬面值。

2.3 聯營公司

聯營公司是指本集團擁有重大影響力但 無控制權的實體,一般附帶涉及20%至 50%表決權的股權。於聯營公司的投資 採用權益會計法入賬。根據權益法,投 資初步按成本確認,而賬面值將予以增 加或減少以確認於收購日期後投資者應 佔受投資公司的損益。本集團於聯營公 司的投資包括於收購時識別的商譽。於 收購一家聯營公司的擁有權權益時,聯 營公司成本與本集團應佔聯營公司的可 識別資產及負債的淨公允價值之間的任 何差額,入賬列為商譽。

倘於聯營公司的擁有權權益減少但保留 重大影響力,僅先前於其他全面收益表 內確認的金額的相稱比例重新分類至損 益(如適用)。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.3 Associates (Continued)

The Group's share of post-acquisition profit or loss is recognised in the consolidated statement of comprehensive income, and its share of post-acquisition movements in other comprehensive income is recognised in other comprehensive income with a corresponding adjustment to the carrying amount of the investment. When the Group's share of losses in an associate equals or exceeds its interest in the associate, including any other unsecured receivables, the Group does not recognise further losses, unless it has incurred legal or constructive obligations or made payments on behalf of the associate.

The Group determines at each reporting date whether there is any objective evidence that the investment in the associate is impaired. If this is the case, the Group calculates the amount of impairment as the difference between the recoverable amount of the associate and its carrying value and recognises the amount adjacent to 'share of profit of investments accounted for using equity method' in the consolidated statement of comprehensive income.

Profits and losses resulting from upstream and downstream transactions between the Group and its associate are recognised in the Group's financial statements only to the extent of unrelated investor's interests in the associates. Unrealised losses are eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by the Group.

Gains or losses on dilution of equity interest in associates are recognised in the consolidated statement of comprehensive income.

2 主要會計政策概要(續)

2.3 聯營公司(續)

本集團應佔收購後的損益於合併全面收 益表內確認,而其應佔收購後的其他全 面收益變動則在其他全面收益內確認, 並對該投資的賬面值作出相應調整。倘 本集團應佔聯營公司的虧損等於或超過 其於聯營公司的權益(包括任何其他無 抵押應收款項),則本集團不會確認進一 步虧損,除非其已代表該聯營公司產生 法定或推定責任或作出付款則作別論。

本集團於各報告日期釐定是否有任何客 觀證據證明於聯營公司的投資已減值。 倘有,本集團會將減值金額計算為該聯 營公司的可收回金額與其賬面值之間的 差額,並於合併全面收益表內的「採用 權益法入賬的應佔投資溢利」旁確認該 金額。

本集團與其聯營公司之間的上游及下游 交易產生的損益於本集團的財務報表內 確認,惟以非關聯投資者於聯營公司的 權益為限。未變現虧損予以對銷,除非 該項交易提供所轉讓資產減值的證據則 作別論。聯營公司的會計政策已按需要 作出變動,以確保與本集團採納的政策 一致。

於聯營公司的股權攤薄產生的收益或虧 損於合併全面收益表內確認。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.4 Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the executive directors that make strategic decisions.

2.5 Foreign currency translation

• (a) Functional and presentation currency Items included in the consolidated financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates ("the functional currency"). Consolidated financial statements are presented in USD, which is the Company's functional and the Group's presentation currency.
• (b) Transactions and balances

Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are re-measured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income.

Foreign exchange gains and losses that relate to cash and cash equivalents are presented in the consolidated statement of comprehensive income within "finance income or costs". All other foreign exchange gains and losses are presented in the consolidated statement of comprehensive income within "other (losses)/gains, net".

2 主要會計政策概要(續)

2.4 分部報告

經營分部按提供予主要經營決策人的內 部報告一致的方式呈報。主要經營決策 人負責經營分部的資源分配及表現評 估,已被識別為作出策略決定的執行董 事。

2.5 外幣換算

• (a) 功能及呈報貨幣 本集團旗下各實體的合併財務報表 內所載項目均採用該實體經營所 在主要經濟環境的貨幣(「功能貨 幣」)計量。合併財務報表以美元 (即本公司的功能貨幣及本集團的 呈報貨幣)呈列。
• (b) 交易及結餘 外幣交易以交易或估值(倘項目重 新計量)日期的現行匯率換算為功 能貨幣。因結算該等交易及因按年 末匯率換算以外幣計值的貨幣資產 及負債而產生的匯兌收益及虧損, 乃於全面收益表內確認。

與現金及現金等價物相關的匯兌收 益及虧損於合併全面收益表內的 「財務收入或成本」項內呈列。所有 其他匯兌收益及虧損則於合併全面 收益表內的「其他(虧損)╱ 收益淨 額」項內呈列。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.5 Foreign currency translation (Continued)

(c) Group companies

The results and financial position of all the Group entities (none of which has the currency of a hyper-inflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows:

• assets and liabilities for each balance sheet item presented are translated at the closing rate at the date of that balance sheet;
• income and expenses for each statement of comprehensive income item are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rate on the dates of the transactions); and
• all resulting exchange differences are recognised in other comprehensive income.

2 主要會計政策概要(續)

2.5 外幣換算(續)

• (c) 集團公司 所有採用有別於呈報貨幣的功能貨 幣的集團實體(當中概無擁有超通 脹經濟體的貨幣),其業績及財務 狀況均按下列方式換算為呈報貨 幣:
• 就各資產負債表項目呈列的 資產及負債,按該結算日的 收市匯率換算;
• 就各全面收益表項目的收入 及開支,按平均匯率換算(除 非該平均值並非交易日期的 行匯率累計影響的合理約 值,在該情況下,收入及開 支按交易日期的匯率換算); 及
• 所有由此產生的匯兌差額均 在其他全面收益內確認。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.6 Property, plant and equipment

Property, plant and equipment are stated at historical cost less accumulated depreciation and impairment. Historical cost includes expenditure that is directly attributable to the acquisition of the items.

Subsequent costs are included in the asset's carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are charged to the statement of comprehensive income during the financial period in which they are incurred.

Depreciation on property, plant and equipment is calculated using the straight-line method to allocate their costs over their estimated useful lives, as follows:

Leasehold improvements	Shorter of estimated useful lives
	or remaining lease term
Office equipment	5 years
Motor vehicles	5 years

The assets' residual values and useful lives are reviewed, and adjusted if appropriate, at the end of each reporting period.

Computers 3 years

An asset's carrying amount is written down immediately to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount (Note 2.9).

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised within "other (losses)/gains, net" in the consolidated statement of comprehensive income.

2 主要會計政策概要(續)

2.6 物業、廠房及設備

物業、廠房及設備按歷史成本減累計折 舊及減值列賬。歷史成本包括與收購項 目直接相關的支出。

其後的成本計入資產的賬面值內或確認 為獨立資產(如適用),惟僅限於與該 項目相關的未來經濟利益有可能流入本 集團及該項目的成本能可靠地計量的情 況。已替換零件的賬面值取消確認。所 有其他維修保養於其產生的財務期間在 全面收益表內扣除。

物業、廠房及設備以直線法計算折舊以 於其估計可用年期內分攤其成本如下:

租賃物業裝修	估計可用年期或餘下
	租期(以較短者為準)
辦公室設備	5年
汽車	5年
電腦	3年

資產的剩餘價值及可用年期於各報告期 末予以檢討,並在適當時作出調整。

倘資產的賬面值大於其估計可收回金 額,則資產的賬面值即時撇減至其可收 回金額(附註2.9)。

出售產生的收益及虧損乃將所得款項與 賬面值比較而釐定,並於合併全面收益 表內的「其他(虧損)╱收益淨額」項內確 認。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.7 Intangible assets

(a) Game intellectual properties and licenses Under certain exclusive games arrangements entered between the Group and the game developers, the Group pays upfront license fees to the game developers as the Group obtained the games developed by those game developers. The Group recognises the upfront license fees as intangible assets. This intangible assets are amortised on a straight-line basis over the expected economic life, ranging from 2 to 3 years. These amortisation are recorded in cost of revenue (where the games are commercially launched) or administrative expenses (where the games are not yet commercially launched).

In some other circumstance, the Group pays the upfront license fees to game developers as the Group is entitled a right to operate third party developed games for certain period of time in certain countries. The Group recognises the license fees as intangible assets at historical cost upon the games commercially launched. Licences have a finite useful life and are carried at cost less accumulated amortisation. Amortisation is calculated using the straight-line method to allocate the cost of licences over their estimated useful lives of 2 to 5 years. Amortisation is expensed to cost of revenue (where the Group is a principal) or offset against the revenue (where the Group is an agent).

(b) Computer software

Acquired computer software stated at historical cost less amortisation. Acquired computer software licenses are capitalised on the basis of the costs incurred to acquire and bring to use the specific software, and are amortised over their estimated useful lives of three years.

2 主要會計政策概要(續)

2.7 無形資產

(a) 遊戲知識產權及許可權 根據本集團與遊戲開發商訂立的若 干獨家遊戲安排,本集團於取得遊 戲開發商開發的遊戲時向該等遊戲 開發商支付前期許可費。本集團將 前期許可費確認為無形資產。該無 形資產於2至3年的預期經濟年期 按直線法攤銷。該等攤銷獲計入收 入成本(倘遊戲獲正式發佈)或行 政開支(倘遊戲尚未正式發佈)。

於若干其他情況下,本集團於其有 權於特定期間內在特定國家營運第 三方開發的遊戲時向遊戲開發商 支付前期許可費。當遊戲正式發佈 時,本集團按歷史成本將許可費確 認為無形資產。許可權有限定的可 用年期,並按成本減累計攤銷列 賬。攤銷採用直線法計算以於許可 權估計為2年至5年的可用年期內 分攤其成本。攤銷在收入成本中支 銷(倘本集團為主事人),或與收入 對銷(倘本集團為代理)。

(b) 電腦軟件 所購得的電腦軟件按歷史成本減攤銷列 賬。所購得的電腦軟件許可權按購買及 使其達致特定軟件用途所產生的成本予 以資本化,並於其估計為三年的可用年 期內攤銷。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.7 Intangible assets (Continued)

(c) Research and development expenditures Research expenditure is recognised as an expense as incurred. Costs incurred on development projects (relating to the design and testing of new or improved products) are capitalised as intangible assets when recognition criteria are fulfilled. These criteria includes: (1) it is technically feasible to complete the game product so that it will be available for use; (2) management intends to complete the game product and use or sell it; (3) there is an ability to use or sell the game product; (4) it can be demonstrated how the game product will generate probable future economic benefits; (5) adequate technical, financial and other resources to complete the development and to use or sell the game product are available; and (6) the expenditure attributable to the game product during its development can be reliably measured. Other development expenditures that do not meet those criteria are recognised as expenses as incurred. During the year ended December 31, 2020 and 2019, there were no development costs meeting these criteria and capitalised as intangible assets.

Development costs previously recognised as expenses are not recognised as assets in subsequent periods. Capitalised development costs are amortised from the point at which the assets are ready for use on a straight-line basis over their useful lives.

Research and development expenses consist primarily of (i) salary and benefits for the Group's research and development personnel, and (ii) the technology outsourcing payment to third-party companies.

During the year ended December 31, 2020, all research and development expenditures were recognised in the statement of comprehensive income as the recognition criteria for capitalisation have not been fulfilled (2019: same).

2 主要會計政策概要(續)

2.7 無形資產(續)

(c) 研發開支

研究開支於產生時確認為開支。開 發項目(涉及新或改良產品設計及 測試)產生的成本於達成確認條件 時資本化為無形資產。該等條件包 括:(1)完成該遊戲產品致使其可 供使用在技術上可行;(2)管理層 有意完成該遊戲產品並供使用或銷 售;(3)有能力使用或銷售該遊戲 產品;(4)能夠表明該遊戲產品將 如何產生可能的未來經濟利益; (5)具備足夠的技術、財務及其他 資源以完成開發及使用或銷售該遊 戲產品;及(6)該遊戲產品於開發 期間應佔的開支能可靠地計量。不 符合上述該等條件的其他開發開支 於產生時確認為開支。於截至二零 二零年及二零一九年十二月三十一 日止年度,並無開發成本符合該等 條件並資本化為無形資產。

先前已確認為開支的開發成本不會 於後續期間確認為資產。已資本化 的開發成本自該等資產可供使用 之時起以直線法於其可用年期內攤 銷。

研發開支主要包括(i)本集團研發人 員的薪金及福利;及(ii)支付予第 三方公司的技術外包款項。

於截至二零二零年十二月三十一日 止年度,所有研發開支均在全面收 益表內確認為不符合資本化的確認 條件(二零一九年:相同)。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.8 Prepaid royalty fees

The Group licenses online games from game developers and pays royalty fees to game developers as sharing of proceeds earned from selling in-game virtual tokens ("Game Tokens") and other virtual items (Note 2.19). Royalty fees are either paid in advance and deferred on the consolidated balance sheet as prepaid royalties or accrued according to the licensed period. These royalty fees are expensed to cost of revenues (where the Group is a principal) or offset against the revenues (where the Group is an agent).

At each balance sheet date, the Group evaluates the recoverability of prepaid royalty fees to determine amounts that it deems unlikely to be realised through revenues generated from the games. This evaluation considers multiple factors, including the term of the agreement, forecasted demand, game life cycle status, game development plans, and current and anticipated game revenue levels, as well as other qualitative factors such as the success of similar games. To the extent that this evaluation indicates that the remaining prepaid royalty payments are not recoverable, the Group records an impairment charge to administrative expenses in the period that impairment is indicated.

2.9 Impairment of non-financial assets

Intangible assets that have an indefinite useful life or intangible assets not ready to use are not subject to amortisation and are tested annually for impairment. Assets that are subject to amortisation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). Non-financial assets other than goodwill that suffered an impairment are reviewed for possible reversal of the impairment at each reporting date.

2 主要會計政策概要(續)

2.8 預付版權費

本集團特許經營遊戲開發商的網絡遊 戲,並向遊戲開發商支付版權費,作為 分攤銷售遊戲內虛擬代幣(「遊戲代幣」) 及其他虛擬物品所賺取的所得款項(附 註2.19)。版權費乃預先支付及於合併資 產負債表遞延作為預付版權費或根據特 許期累計。該等版權費於收入成本支銷 (倘本集團為主事人)或與收入抵銷(倘 本集團為代理)。

於各結算日,本集團評估預付版權費的 可收回性,以釐定不大可能透過有關遊 戲產生的收入變現的金額。該評估考慮 多個因素,包括協議年期、預測需求、 遊戲生命週期狀態、遊戲開發計劃及現 有和預期遊戲收入水平,以及類似遊戲 的成功等其他質化因素。倘該評估顯示 其餘預付版權付款不可收回,則本集團 於顯示減值的期間在行政開支記錄減值 開支。

2.9 非金融資產減值

具有無限可使用年期的無形資產或未可 供使用的無形資產毋須計算攤銷,並每 年測試減值。須予攤銷的資產每當發生 事件或情況變化顯示賬面值可能無法收 回時,進行減值檢討。減值虧損乃就資 產的賬面值超出其可收回金額的金額確 認。可收回金額是指資產的公允價值減 銷售成本與使用價值的較高者。為評估 減值,資產乃按有獨立可識別的現金流 量的最低層面(現金產生單位)分組。已 減值的非金融資產(不包括商譽)於各報 告日期檢討可能的減值撥回。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.10 Investment and other financial assets

2.10.1 Classification

The Group's management has assessed which business models apply to the financial assets held by the Group and has classified its financial instruments into the appropriate IFRS 9 categories, namely:

• those to be measured subsequently at fair value (either through profit or loss or other comprehensive income ("OCI"), or through profit or loss), and
• those to be measured at amortised cost.

The classification depends on the Group's business model for managing the financial assets and the contractual terms of the cash flows.

For assets measured at fair value, gains and losses will either be recorded in profit or loss or OCI. For investments in equity instruments that are not held for trading, this will depend on whether the Group has made an irrevocable election at the time of initial recognition to account for the equity investment at fair value through other comprehensive income ("FVOCI").

The Group reclassifies debt instruments when and only when its business model for managing those assets changes.

2.10.2 Recognition and derecognition

Regular way purchases and sales of financial assets are recognised on trade-date, the date on which the Group commits to purchase or sell the asset. Financial assets are derecognised when the rights to receive cash flows from the financial assets have expired or have been transferred and the Group has transferred substantially all the risks and rewards of ownership.

2 主要會計政策概要(續)

2.10 投資及其他金融資產

2.10.1 分類

本集團管理層已評估何種業務模式 適用於本集團所持有的金融資產, 並已將其金融工具分類為合適的國 際財務報告準則第9號類別,即:

• 其後按公允價值計量的金融 工具(透過損益或其他全面收 益);及
• 按攤銷成本計量的金融工具。

分類乃視乎本集團管理金融資產的 業務模式及現金流量的合約條款而 定。

就按公允價值計量的資產而言,收 益及虧損將於損益或其他全面收益 內記錄入賬。就並無持作買賣的權 益工具投資而言,將取決於本集團 於初始確認時是否作出不可撤回的 選擇,將股本投資透過其他全面收 益按公允價值入賬。

當及僅當本集團管理該等資產的業 務模式出現變化時,才會將債券工 具重新分類。

3.10.2 確認及取消確認

正常途徑買賣的金融資產於買賣日 期(即本集團承諾購買或出售該資 產的日期)確認。倘從金融資產收 取現金流量的權利已屆滿或已轉移 及本集團已將擁有權的絕大部份的 風險和回報轉移時,則取消確認金 融資產。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.10 Investment and other financial assets (Continued)

2.10.3 Measurement

At initial recognition, the Group measures a financial asset at its fair value plus, in the case of a financial asset not at fair value through profit or loss ("FVPL"), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVPL are expensed in profit or loss.

Financial assets with embedded derivatives are considered in their entirety when determining whether their cash flows are solely payment of principal and interest.

Debt instruments

Subsequent measurement of debt instruments depends on the Group's business model for managing the asset and the cash flow characteristics of the asset. The Group currently only classifies its debt instruments at amortised cost, as these assets are only held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest. Interest income from these financial assets is included in finance income using the effective interest rate method. Any gain or loss arising on derecognition is recognised directly in profit or loss and presented in "Other (losses)/gains, net", together with foreign exchange gains and losses. Impairment losses are presented as separate line item in the statement of comprehensive income.

2 主要會計政策概要(續)

2.10 投資及其他金融資產(續)

2.10.3 計量

於初步確認時,本集團按其公允價 值加上(倘金融資產並非按公允價 值計入損益)收購金融資產直接應 佔的交易成本計量金融資產。按公 允價值計入損益的金融資產的交易 成本於損益中支銷。

於確定有嵌入衍生工具的金融資產 之現金流量是否僅指所支付的本金 及利息時,會從金融資產之整體予 以考慮。

債務工具

債務工具的其後計量取決於本集團 管理資產的業務模式及資產的現金 流量特性。本集團目前僅按攤銷 成本將其債務工具分類,因為該等 資產僅為了收取合約現金流量而持 有,而該等現金流量僅代表本金及 利息的支付。來自該等金融資產的 利息收入乃使用實際利率法計入財 務收入。取消確認所產生的任何盈 虧直接在損益中確認,並連同外匯 收益及虧損在「其他(虧損)╱ 收益 淨額」中呈列。減值虧損在全面收 益表內列作獨立項目。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.10 Investment and other financial assets (Continued)

2.10.3 Measurement (Continued)

Equity instruments

The Group subsequently measures all equity investments at fair value. Where the Group's management has elected to present fair value gains and losses on equity investments in OCI, there is no subsequent reclassification of fair value gains and losses to profit or loss following the derecognition of the investment. Dividends from such investments continue to be recognised in profit or loss as other income when the Group's right to receive payments is established.

Changes in the fair value of financial assets measured at FVPL are recognised in "Other (losses)/gains, net" in the statement of comprehensive income as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured at FVOCI are not reported separately from other changes in fair value.

2.10.4 Impairment

The Group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortised costs. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

For trade receivables, the Group applies the simplified approach permitted by IFRS 9, that is to measure the loss allowance at the amount equal to lifetime expected credit loss at initial recognition and through its life of the asset. The Group uses practical expedients when estimating life time expected credit loss on trade receivables, which is calculated using a provision matrix where a fixed provision rate applies depending on the shared credit risk characteristics of the trade receivables.

In assessing the shared credit risk characteristics of the trade receivables, the Group takes into account reasonable and supportable information that is available without undue cost or effort. This includes information about past events, current conditions and forecasts of future economic conditions.

2 主要會計政策概要(續)

2.10 投資及其他金融資產(續)

2.10.3 計量(續)

權益工具 本集團其後按公允價值計量所有權 益工具。倘本集團管理層已選擇於 其他全面收益中呈列權益工具的 公允價值盈虧,則其後於取消確認 投資後毋須將公允價值盈虧重新分 類為損益。當本集團收取有關股息 付款的權利確立時,來自該等投資 的股息繼續在損益中確認為其他收 入。

按公允價值計入損益的金融資產之 公允價值變動,在全面收益表的 「其他(虧損)╱ 收益淨額」內確認 (如適用)。按公允價值計量且其變 動計入其他全面收益的權益投資之 減值虧損(及減值虧損撥回)不會 與公允價值的其他變動分開列報。

2.10.4 減值

本集團按前瞻性基準評估與其以攤 銷成本列賬的債務工具相關的預期 信貸虧損。所應用的減值方法取決 於信貸風險是否顯著增加。

就貿易應收款項而言,本集團採 用國際財務報告準則第9號所允許 的簡化方法,即在初始確認時及於 其整個資產壽命期間,以相當於全 期預期信貸虧損的金額計量虧損撥 備。估計貿易應收款項的壽命預期 信貸虧損時,本集團採用切合實際 的權宜之策,乃使用撥備矩陣計 算,其中根據貿易應收款項的分佔 信貸風險特性而應用固定撥備率。

在評估貿易應收款項的分佔信貸風 險特性時,本集團考慮合理及有理 據而毋須付出不必要的成本或人 力資源獲得的資料。此包括過往事 件、當前狀況及未來經濟狀況預測 等資料。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.11 Offsetting financial instruments

Financial assets and liabilities are offset and the net amount reported in the consolidated balance sheet when there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on future events and must be enforceable in the normal course of business and in the event of default, insolvency or bankruptcy of the company or the counterparty.

2.12 Trade and other receivables

Trade receivables are amounts due from platforms or payment channels for proceeds earned from selling Game Tokens and other virtual items (please refer to Note 2.19). If collection of trade and other receivables is expected in one year or less (or in the normal operating cycle of the business if longer), they are classified as current assets. If not, they are presented as non-current assets.

Trade and other receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment.

2.13 Cash and cash equivalents

In the consolidated statement of cash flows, cash and cash equivalents include cash in hand and deposits at call with banks, and other short-term highly liquid investments with original maturities of three months or less.

2 主要會計政策概要(續)

2.11 對銷金融工具

倘有法定可執行權利對銷已確認金額, 且有意按淨額基準結算或同步變現資產 及結算負債,則金融資產及負債予以對 銷,而該淨額乃於合併資產負債表內呈 報。法定可執行權利不得取決於未來事 件,且必須可於一般業務過程中以及於 公司或交易對手方違約、無力償債或破 產的情況下強制執行。

2.12 貿易及其他應收款項

貿易應收款項是指就銷售遊戲代幣及其 他虛擬物品賺取的所得款項而應收平台 或付款渠道的款項(請參閱附註2.19)。 倘預期於一年或之內(或於一般業務營 運週期內(倘較長))收回貿易及其他應 收款項,該等款項歸類為流動資產。否 則,呈列為非流動資產。

貿易及其他應收款項初步按公允價值確 認,其後則採用實際利率法按已攤銷成 本減減值撥備計量。

2.13 現金及現金等價物

於合併現金流量表內,現金及現金等價 物包括手頭現金及銀行活期存款,以及 其他原訂期限為三個月或以下的短期高 流動性投資。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.14 Share capital and shares held for the Share Option Scheme

Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares are shown in equity as a deduction, net of tax, from the proceeds.

The consideration paid by Share Scheme Trust (see Note 17) for acquiring the Company's shares, including any directly attributable incremental cost, is presented as "Shares held for the Share Option Scheme" and the amount is deducted from total equity.

When Share Scheme Trust transfers the Company's shares to the awardees upon vesting, the related costs of the awarded shares vested are credited to "Shares held for the Share Option Scheme", with a corresponding adjustment made to "Share premium".

2.15 Trade payables

Trade payables are obligations to pay for services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities.

Trade payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method.

2 主要會計政策概要(續)

2.14 股本及就購股權計劃持有的 股份

普通股歸類為權益。與發行新普通股直 接相關的遞增成本於權益內顯示為所得 款項的扣減(扣除稅項)。

股份計劃信託(見附註17)就收購本公司 股份所支付的代價(包括任何直接應佔 遞增成本),乃呈列為「就購股權計劃持 有的股份」,而該金額從權益總額扣除。

當股份計劃信託將歸屬後的本公司股份 轉讓予承授人,已歸屬獎勵股份的相 關成本乃計入「就購股權計劃持有的股 份」,並對「股份溢價」作出相應調整。

2.15 貿易應付款項

貿易應付款項是指就於日常業務過程中 向供應商購買的服務付款的責任。倘付 款乃於一年或之內(或於一般業務營運 週期內(倘較長))到期,貿易應付款項 歸類為流動負債。否則,呈列為非流動 負債。

貿易應付款項初步按公允價值確認,其 後則採用實際利率法按已攤銷成本計量。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.16 Current and deferred income tax

The tax expense for the period comprises current and deferred tax. Income tax is recognised in the consolidated statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, the tax is also recognised in other comprehensive income or directly in equity, respectively.

(a) Current income tax

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company's subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities.

(b) Deferred income tax

Inside basis differences

Deferred income tax is recognised, using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements. However, deferred tax liabilities are not recognised if they arise from the initial recognition of goodwill, the deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that at the time of the transaction affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realised or the deferred income tax liability is settled.

Deferred income tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

2 主要會計政策概要(續)

2.16 即期及遞延所得稅

期內的稅項開支包括即期及遞延稅項。 所得稅乃於合併全面收益表內確認,惟 倘涉及於其他全面收益或直接於權益內 確認的項目則除外。在此情況下,稅項 亦分別於其他全面收益或直接於權益內 確認。

• (a) 即期所得稅 即期所得稅支出按本公司的附屬公 司經營及產生應課稅收入所在國家 於結算日已頒佈或實質已頒佈的 稅法計算。管理層定期就適用稅收 法規可能受詮釋影響的情況評估於 報稅表內採取的狀況。在適當情況 下,管理層按預期須向稅收機關繳 納的款項建立撥備。
• (b) 遞延所得稅 內部基準差異 遞延所得稅乃採用負債法就資產及 負債的稅基與其在合併財務報表內 的賬面值之間產生的暫時差額而確 認。然而,倘遞延稅項負債乃因初 步確認商譽而產生,則不予確認; 倘遞延所得稅乃因在一項交易(不 包括業務合併)中初步確認資產或 負債而產生,且於交易當時並不影 響會計或應課稅損益,則不予入 賬。遞延所得稅乃採用於結算日已 頒佈或實質已頒佈及預期於相關遞 延所得稅資產變現或遞延所得稅負 債結清時適用的稅率(及稅法)而 釐定。

遞延所得稅資產僅於可能有未來應 課稅溢利可用以抵銷暫時差額時, 方予確認。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.16 Current and deferred income tax (Continued)

(b) Deferred income tax (Continued) Outside basis differences

Deferred income tax liabilities are provided on taxable temporary differences arising from investments in subsidiaries and an associate, except for deferred income tax liability where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that the temporary difference will not reverse in the foreseeable future.

Deferred income tax assets are recognised on deductible temporary differences arising from investments in subsidiaries only to the extent that it is probable the temporary difference will reverse in the future and there is sufficient taxable profit available against which the temporary difference can be utilised.

(c) Offsetting

Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis.

2 主要會計政策概要(續)

2.16 即期及遞延所得稅(續)

(b) 遞延所得稅(續) 外部基準差異 遞延所得稅負債乃就於附屬公司及 一家聯營公司的投資所產生的應課 稅暫時差額而計提撥備,惟暫時差 額的撥回時間由本集團控制以及暫 時差額不可能於可見將來撥回的遞 延所得稅負債除外。

遞延所得稅資產乃就於附屬公司的 投資所產生的可扣稅暫時差額而確 認,惟僅以可能於未來撥回暫時差 額以及有足夠應課稅溢利用以抵銷 暫時差額的情況為限。

(c) 對銷

倘有法定可執行權利可以即期稅項 資產對銷即期稅項負債,以及倘遞 延所得稅資產及負債涉及由同一稅 收機關就該應課稅實體或不同的應 課稅實體徵收的所得稅,且有意按 淨額基準結算餘額,則遞延所得稅 資產及負債予以對銷。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.17 Employee benefits

• (a) Defined contribution plans
• The Group's companies incorporated in the PRC contribute based on certain percentage of the salaries of the employees to a defined contribution retirement benefit plan and other defined contribution social security plans organised by relevant government authorities in the PRC on a monthly basis. The government authorities undertake to assume the retirement benefit obligations payable and other social security payables to all existing and future retired employees under these plans and the Group has no further obligation beyond the contributions made. Contributions to these plans are expensed as incurred. Assets of the plans are held and managed by government authorities and are separate from those of the Group.
• (b) Employee leave entitlements

Employee entitlements to annual leave are recognised when they accrue to employees. A provision is made for the estimated liability for annual leave as a result of services rendered by employees up to the balance sheet date.

Employee entitlements to sick and maternity leave are not recognised until the time of leave.

2.18 Share-based payments

The Group operates the Share Option Scheme (as defined in Note 17), which is an equity-settled shared based compensation plan under which share awards are granted to employees as part of their remuneration package

2 主要會計政策概要(續)

2.17 僱員福利

• (a) 界定供款計劃 本集團於中國註冊成立的公司每月 根據僱員薪金的若干百分比向中國 相關政府機關籌辦的界定供款退休 福利計劃及其他界定供款社會保障 計劃作出供款。政府機關承諾承擔 該等計劃下對全體現有及未來退休 僱員的應付退休福利責任和其他社 會保障的款項,除作出供款外,本 集團並無其他責任。該等計劃的供 款在產生時支銷。計劃的資產由政 府機關持有及管理,並獨立於本集 團的資產。
• (b) 僱員應享假期 僱員應享的年假乃於應計給僱員時 確認。就截至結算日僱員已提供的 服務產生的年假的估計負債,則計 提撥備。

僱員應享病假及分娩假期直至放假 時方予確認。

2.18 以股份為基礎付款

本集團運作購股權計劃(定義見附註 17),此為權益結算以股份為基礎薪酬 計劃,據此股份獎勵將授予僱員作為薪 酬待遇的一部份。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.18 Share-based payments (Continued)

The fair value of the employee services received in exchange for the grant of the share-based awards is recognised as an expense over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied, and credited to share premium under equity. The total amount to be expensed is determined by reference to the fair value of the share-based awards granted:

• including any market performance conditions;
• excluding the impact of any service and non-market performance vesting conditions; and
• including the impact of any non-vesting conditions.

At the end of each reporting period, the Group revises its estimates of the number of share-based awards that are expected to vest based on the non-marketing performance and service conditions. It recognises the impact of the revision to original estimates, if any, in the consolidated statement of comprehensive income, with a corresponding adjustment to equity.

If the terms of a share-based award are modified, at a minimum an expense is recognised as if the terms had not been modified. An additional expense is recognised for any modification that increases the total fair value of the share-based payments arrangement, or is otherwise beneficial to the employee and other qualifying participants, as measured at the date of modification.

2.19 Revenue recognition

Revenue is measured at the fair value of the consideration received or receivable, and represents amounts receivable for the provision of services in the ordinary course of the Group's activities and is recorded net of value-added tax.

The Group recognises revenue in the accounting period in which the services are rendered. Depending the terms of the contract and the laws that apply to the contract, the services may be rendered over time or at a point in time.

2 主要會計政策概要(續)

2.18 以股份為基礎付款(續)

就換取股份獎勵而收到的僱員服務的公 允價值於歸屬期內(即所有特定歸屬條 件獲滿足的期間)確認為一項開支,並 計入權益下的股份溢價。將予支出的總 金額參考所授出股份獎勵的公允價值釐 定:

• 包括任何市場表現條件;
• 不包括任何服務及非市場表現歸屬 條件的影響;及
• 包括任何非歸屬條件的影響。

於各報告期末,本集團根據非市場表現 及服務條件修訂其有關預期將歸屬的股 份獎勵數目的估計,並於合併全面收益 表中確認修訂原有估計的影響(如有), 同時對權益作出相應的調整。

倘股份獎勵的條款被修改,則會以最低 限度確認開支,猶如該等條款並未經修 訂。若任何修改使股份付款安排的總公 允價值增加,或在其他方面對僱員及其 他合資格參與者有利,則於修訂日期計 量並就任何上述修改確認額外開支。

2.19 收入確認

收入按已收或應收代價的公允價值計 量,並代表就本集團日常業務過程中提 供服務應收的金額,並在扣除增值稅後 入賬。

本集團於提供服務的會計期間內確認收 入。視乎合約條款及適用於合約的法 律,有關服務乃隨時間過去或於某地點 提供。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

If contracts involve the sale of multiple services, the transaction price will be allocated to each performance obligation based on their relative stand-alone selling prices. The services provided by the Group under each contract are integrated and treated as one performance obligation.

(a) Game publishing service revenue

The Group is a publisher of online games developed by third party game developers or its own. The Group licenses online games from game developers and earns game publishing service revenue by making a localised version of the licensed games and publishing them to the game players through distribution platforms, include major social networking websites (such as Facebook), online application stores (such as Apple Inc.'s App Store ("Apple App") and Google Play installed in mobile telecommunications devices), web-based and mobile game portals in certain countries and regions (collectively referred to as "Platforms"), including the Group's websites. The games licensed to the Group are operated under a free-to-play model whereby game players can play the games free of charge and are charged for the purchase of Game Tokens or other virtual items via payment channels, such as the various mobile carriers and third-party internet payment systems (collectively referred to as "payment channels").

(i) Principal Agent Consideration

Third party developed games

Proceeds earned from selling Game Tokens and other virtual items are shared between the Group and game developers, with the amount paid to game developers generally calculated based on face value of Game Tokens or other virtual items determined by game developers, after deducting certain deductible fees, multiplied by a predetermined percentage for each game. The deductible fees are predetermined and negotiated game by game, including the fees paid to the payment channels and the Platforms, as well as the credit allowable for deduction for each game.

2 主要會計政策概要(續)

2.19 收入確認(續)

倘合約涉及多重服務的銷售,交易價格 將根據該等服務的相對獨立售價分配至 各履約責任。本集團根據各合約提供的 服務綜合計算並視作一項履約責任處理。

• (a) 遊戲發行服務收入 本集團為一家網絡遊戲發行商,發 行由第三方遊戲開發商或自身開發 的網絡遊戲。本集團特許經營遊 戲開發商的網絡遊戲,並製作該 等授權遊戲的本土化版本及透過 發行渠道(包括主要社交網站(如 Facebook)、網上應用程式商店 (如安裝在移動電信設備中的Apple Inc.的App Store(「Apple App」) 及Google Play)、若干國家及地區 的網頁及移動遊戲門戶網站(統稱 為「平台」,包括本集團網站))發 行予遊戲玩家,由此賺取遊戲發行 服務收入。本集團獲授權的遊戲乃 以免費任玩模式經營,據此,遊戲 玩家可以免費任玩遊戲及在購買遊 戲代幣或其他虛擬物品時透過付款 渠道(如各種移動營運商及第三方 互聯網支付系統(統稱為「付款渠 道」))支付費用。
• (i) 主要代理代價 第三方開發的遊戲 透過銷售遊戲代幣及其他虛 擬物品賺取的所得款項由本 集團與遊戲開發商分攤,而 支付予遊戲開發商的金額一 般根據遊戲開發商釐定的遊 戲代幣或其他虛擬物品的面 值計算,經扣除一定的可抵 扣費用,再乘以為各個遊戲 預先釐定的百分比。可抵扣 費用為預先釐定並按遊戲逐 一進行協商,包括支付予付 款渠道及平台的費用以及就 各個遊戲可扣除的抵免額。

遊萊互動集團有限公司 二零二零年年報 141

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued)
• (i) Principal Agent Consideration (Continued) Third party developed games (Continued)
  • 1) The Group acts as Agent

With respect to the Group's game licenses arrangements entered into during the years ended December 31, 2020 and 2019, the Group considered that the (i) game developers are responsible for providing the game product desired by the game players; (ii) the costs incurred by the game developers to develop the games are more than the licensing costs and game localisations costs incurred by the Group; (iii) game developers have the right to determine the pricing of in-game virtual items and the specification, modification or update of the game proposed by the Group. The Group's responsibilities are publishing, providing payment solution and market promotion service, and thus the Group views game developers to be its customers and considers itself as the agent of game developers in the arrangements with game players. Accordingly, the Group records the game publishing service revenue from these licensed games, net of amounts paid to game developers.

2.19 收入確認(續)

• (a) 遊戲發行服務收入(續)
• (i) 主要代理代價(續)

第三方開發的遊戲(續) 1) 本集團擔當代理 就本集團於截至二零二 零年及二零一九年十二 月三十一日止年度訂立 的遊戲授權安排而言, 本集團認為,(i)遊戲開 發商有責任提供遊戲玩 家心儀的遊戲產品;(ii) 遊戲開發商開發遊戲所 產生的成本多於本集團 產生的特許經營成本及 遊戲本土化修改成本; (iii)遊戲開發商有權釐 定遊戲內虛擬物品的定 價以及本集團建議的遊 戲規格、改動或更新。 本集團的責任為發行、 提供付款解決方案及市 場推廣服務,因此,本 集團視遊戲開發商為其 客戶,而其本身則為遊 戲開發商的代理,負責 與遊戲玩家作出安排。 因此,本集團來自該等 授權遊戲的遊戲發行服 務收入乃於扣除支付予 遊戲開發商的金額後入 賬。

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued)
• (i) Principal Agent Consideration (Continued) Third party developed games (Continued)
  • 1) The Group acts as Agent (Continued) Games operated directly by the Group Games operated directly by the Group are in the form of self-operation on its own websites and cooperation with Platforms, which the Group is responsible for determining Platforms and payment channels, hosting and maintenance of game servers for game running, providing customer service as well as marketing activities. For games self-operated by the Group, payment channels are responsible for payment collections related to the games. For games cooperated with Platforms, Platforms are responsible for distribution, platform maintenance, paying player authentication and payment collections related to the games.

As the Group is responsible for identifying, contracting with and maintaining the relationships of Platforms and payment channels, commission fees paid to Platforms and payment channels are included in cost of revenues and presented on a gross basis. The Group considers it is the primary obligor to game developers for the reasons identified above as it has been given latitude by game developers in selecting Platform and payment channels for its service to game developers.

2.19 收入確認(續)

• (a) 遊戲發行服務收入(續)
• (i) 主要代理代價(續)

第三方開發的遊戲(續) 1) 本集團擔當代理(續) 本集團直接經營的遊戲 本集團直接經營的遊戲 乃以於其本身網站自主 經營及與平台合作的方 式經營,本集團負責決 定平台及付款渠道、託 管及維護讓遊戲運行的 遊戲伺服器、提供客戶 服務,以及營銷活動。 就本集團自主經營的遊 戲而言,付款渠道負責 收取遊戲相關款項。就 與平台合作經營的遊戲 而言,平台負責發行、 平台維護、付費玩家身 份驗證及收取遊戲相關 款項。

由於本集團負責識別、 外包及維持平台和付款 渠道關係,因此支付予 平台及付款渠道的佣金 費用計入收入成本內並 以總額呈列。本集團認 為,由於上文所識別的 理由,其本身乃遊戲開 發商的主債務人,因為 其一直獲遊戲開發商授 予自由度可就提供予遊 戲開發商的服務選擇平 台及付款渠道。

遊萊互動集團有限公司 二零二零年年報 143

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued)
• (i) Principal Agent Consideration (Continued) Third party developed games (Continued)
  • 1) The Group acts as Agent (Continued) Games operated directly by the Group (Continued)

Different from the above analysis, for games cooperated with Facebook if it had been specified by game developers and Apple App, the game developers are fully aware of Facebook and Apple App's roles and responsibilities. The Group considered that Facebook, Apple App and itself provide services to the game developers together, as the Group does not have the latitude in selecting and negotiation with Facebook and Apple App and does not have the primary responsibility to game developers for the service provided by them, commission charges by Facebook and Apple App are deducted from revenue.

2.19 收入確認(續)

(a) 遊戲發行服務收入(續) (i) 主要代理代價(續) 第三方開發的遊戲(續) 1) 本集團擔當代理(續) 本集團直接經營的遊戲 (續) 與上述分析有所不同, 對於與Facebook(若 經已由遊戲開發商指 定)和Apple App合作 的遊戲而言,遊戲開發 商充分知悉Facebook 和Apple App的角色和 責任。本集團認為, Facebook、Apple App 及其本身共同為遊戲 開發商提供服務,由 於本集團在選擇及與 Facebook和Apple App 磋商方面並無自由度, 且就由彼等提供的服務 而言,本集團對遊戲開 發商並無主要責任,故 Facebook和Apple App 收取的佣金乃於收入中 扣除。

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued) (i) Principal Agent Consideration (Continued)
• Third party developed games (Continued)
  • 1) The Group acts as Agent (Continued) Games subcontracted to Platforms Certain games are subcontracted to Platforms to operate directly. For such subcontracted games, Platforms are responsible for determining secondary Platforms and payment channels, hosting and maintenance of game servers for game running, providing customer service as well as marketing activities. The Group's responsibilities are delivering games to Platforms, and thus the Group views the game developers to be its customers and considers itself as the agent of game developers in the arrangements with Platforms, as the Group does not have the primary responsibility to game developers for the service provided by these Platforms. Accordingly, the Group records revenue on a net basis, amounts paid to game developers and revenue-sharing amounts paid to Platforms or third party payment vendors are deducted from revenue.

2.19 收入確認(續)

• (a) 遊戲發行服務收入(續)
• (i) 主要代理代價(續)

遊萊互動集團有限公司 二零二零年年報 145

第三方開發的遊戲(續) 1) 本集團擔當代理(續) 分包予平台的遊戲 若干遊戲乃分包予平台 由其直接經營。就該等 分包遊戲而言,平台負 責決定二級平台和付款 渠道、託管及維護讓遊 戲運行的遊戲伺服器、 提供客戶服務,以及營 銷活動。本集團的責任 為交付遊戲予平台,因 此,本集團視遊戲開發 商為其客戶,而其本身 則為遊戲開發商的代 理,負責與平台作出安 排,因為本集團就該等 平台提供的服務對遊戲 開發商並無主要責任。 因此,本集團的收入按 淨收入入賬,而支付予 遊戲開發商的金額及支 付予平台或第三方付款 服務供應商的收入分攤 金額,則從收入中扣 除。

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued)
• (i) Principal Agent Consideration (Continued) Third party developed games (Continued)
  • 2) The Group acts as Principal

During the years ended December 31, 2020 and 2019, there was a game license arrangement under which the Group takes primary responsibilities of further game development and updates, game operation, including determining Platforms and payment channels, providing customer services, hosting game servers, if needed, and controlling pricing and game and services specifications during the license period. The Group bears the cost incurred to further develop the game. Under this type of game license arrangement, the Group considers itself as a principal in this arrangement. Accordingly, the Group records the online game revenue from this third party licensed game on a gross basis. Commission fees paid to Platforms and payment channels and amortisation of license fees paid to third party game developer are recorded as cost of revenues.

2.19 收入確認(續)

• (a) 遊戲發行服務收入(續)
• (i) 主要代理代價(續)
  • 第三方開發的遊戲(續) 2) 集團擔當主事人

於截至二零二零年及二 零一九年十二月三十一 日止年度,曾有一項遊 戲授權安排,據此本集 團承擔於許可期間推動 遊戲進一步發展及更 新、遊戲營運(包括釐 定平台及付款渠道)、 提供客戶服務、託管遊 戲伺服器(如需要),以 及控制定價和遊戲及服 務規格的主要責任。本 集團承擔進一步開支遊 戲所產生的成本。根據 此類遊戲授權安排,本 集團視本身為該安排的 主事人。故此,本集團 以總額基準記錄來自該 第三方授權遊戲的網絡 遊戲收入。向平台及付 款渠道支付的佣金費用 及向第三方遊戲開發商 支付的許可費攤銷,則 記錄為收入成本。

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued)
• (i) Principal Agent Consideration (Continued) Third party developed games (Continued)
  • 2) The Group acts as Principal (Continued) Self-developed games

The Group sometimes enters into license arrangements under which the Group takes primary responsibilities of game development and game operation, including determining Platforms and payment channels, providing customer services, hosting game servers, if needed, and controlling pricing and game and services specifications. The Group bears the cost incurred to develop the games. Under this type of agreements, the Group considers itself the principal. Accordingly, the Group records the online game revenues from these games on a gross basis. Commission fees paid to Platforms and payment channels and amounts paid to licensor are recorded as cost of revenue.

The Group self-develops mobile games. Revenues derived from self-developed games are recorded on a gross basis as the Group acts as a principal to fulfil most obligations related to the mobile game operation. Commission fees paid to Platforms and payment channels are recorded as cost of revenue.

2.19 收入確認(續)

• (a) 遊戲發行服務收入(續)
• (i) 主要代理代價(續)

第三方開發的遊戲(續) 2) 集團擔當主事人(續) 自主開發的遊戲 本集團有時候會訂立授 權安排,據此,本集團 承擔遊戲開發及遊戲經 營的主要責任,包括決 定平台及付款渠道、提 供客戶服務、託管遊戲 伺 服 器( 如 需 要 ), 以 及控制定價和遊戲及服 務規格。本集團承擔開 發遊戲產生的成本。根 據這種安排,本集團認 為其本身乃主事人。因 此,本集團來自該等遊 戲的網絡遊戲收入乃以 總額入賬。支付予平台 及付款渠道的佣金費用 以及支付予授權人的款 項,則入賬列為收入成 本。

本集團自主開發手機遊 戲。由於本集團擔任主 事人以履行有關手機遊 戲營運的大部份責任, 因此自主開發遊戲產生 的收入以總體基準入 賬。支付予平台及付款 渠道的佣金費用入賬列 為收入成本。

遊萊互動集團有限公司 二零二零年年報 147

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued)
• (ii) Timing of revenue recognition Third party developed games
  • 1) The Group acts as Agent Games operated directly by the Group For the purposes of determining when services have been provided to the respective players, the Group has determined the following:
  • Consumable virtual items represent items that are extinguished after consumption in the form of fixed charges levied on each round of games played. The paying players will not continue to benefit from the virtual items thereafter. Revenue is recognised at a point in time (as a release from contract liabilities) when the items are consumed and the related services are rendered.
  • Durable virtual items represent items that are accessible and beneficial to paying players over an extended period of time. Revenue is recognised ratably over the average life of durable virtual items for the applicable game, which the Group makes best estimates to be average playing period of paying players ("Player Relationship Period").

2.19 收入確認(續)

(a) 遊戲發行服務收入(續) (ii) 收入確認時間 第三方開發的遊戲 1) 本集團擔當代理 本集團直接經營的遊戲 為確定向各個遊戲玩家 提供服務的時間,本集 團已釐定下列各項:

• 消耗類虛擬物品 是指按每回已玩 的遊戲收取固定 費用的形式消耗 後不再存在的物 品。付費玩家此 後將不會繼續得 益於該等虛擬物 品。收入乃於物 品被耗用及提供 相關服務時於某 個 時 點 確 認( 作 為合約負債的解 除)。

• 耐用類虛擬物品 是指付費玩家可 長時期取用及受 惠的物品。收入 於適用遊戲的耐 用類虛擬物品的 平均可用時期(其 為本集團就付費 玩家玩遊戲的平 均遊戲期間所作 的最佳估計(「玩 家關係期」))內按 比例確認。

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued)
• (ii) Timing of revenue recognition (Continued) Third party developed games (Continued)
  • 1) The Group acts as Agent (Continued) Games operated directly by the Group (Continued)

The Group estimates the Player Relationship Period on a game-by-game basis and re-assesses such periods semi-annually. If there is insufficient data to determine the Player Relationship Period, such as in the case of a newly launched game, it estimates the Player Relationship Period based on other similar types of games developed by the Group or by third-party developers until the new game establishes its own patterns and history. The Group considers the games profile, target audience, and its appeal to players of different demographics groups in estimating the Player Relationship Period.

If the Group does not have the ability to differentiate revenue attributable to durable virtual items from consumable virtual items for a specific game, the Group recognises revenue from both durable and consumable virtual items for that game ratably over the Player Relationship Period.

2.19 收入確認(續)

(a) 遊戲發行服務收入(續) (ii) 收入確認時間(續) 第三方開發的遊戲(續) 1) 本集團擔當代理(續) 本集團直接經營的遊戲 (續) 本集團按個別遊戲逐一 估計玩家關係期,並且 每半年重估該等期限。 倘並無足夠的數據來確 定玩家關係期,例如新 發佈的遊戲,則根據由 本集團或第三方開發商 開發的其他相類遊戲來 估計玩家關係期,直至 新遊戲建立其本身的模 式和歷史。在估計玩家 關係期時,本集團考慮 遊戲概況、目標玩家, 以及遊戲對於不同人口 組別的玩家的吸引力。 倘本集團無法就特定遊 戲從消耗類虛擬物品中

區分耐用類虛擬物品的 應佔收入,則本集團會 於玩家關係期內按比例 確認該遊戲來自耐用及 消耗類虛擬物品的收 入。

合併財務報表附註(續)

2 主要會計政策概要(續) 2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

• (a) Game publishing service revenue (Continued) (ii) Timing of revenue recognition (Continued)
• Third party developed games (Continued)
  • 1) The Group acts as Agent (Continued) Games subcontracted to Platforms Revenue of games subcontracted to Platforms are recognised ratably over the Player Relationship Period, for (i) the Group has a continuous obligation to game developers to coordinate Platforms for providing service to game players, and (ii) the Group does not have the ability to differentiate revenue from games subcontracted to Platforms attributable to durable virtual items from consumable virtual items for a specific game.
  • 2) The Group acts as Principal Revenue of third party developed games when the Group acts as a Principal are recognised ratably over the Player Relationship Period or as the durable virtual items are consumed, which is similar to the policy of third party developed games operated directly by the Group when the Group acts as an Agent mentioned above.

Self-developed games

Revenue of self-developed games are recognised ratably over the Player Relationship Period or as the durable virtual items are consumed, which is similar to the policy of third party developed games when the Group acts as a Principal mentioned above.

2.19 收入確認(續)

• (a) 遊戲發行服務收入(續)
• (ii) 收入確認時間(續) 第三方開發的遊戲(續)
  • 1) 本集團擔當代理(續) 分包予平台的遊戲 分包予平台的遊戲的收 入於玩家關係期內按比 例予以確認,因為(i)本 集團對遊戲開發商負有 持續責任以協調為遊戲 玩家提供服務的平台, 及(ii)本集團無法就特定 遊戲從消耗類虛擬物品 中區分耐用類虛擬物品 應佔分包予平台的遊戲 的收入。
  • 2) 本集團擔當主事人 本集團擔當主事人期間 的第三方開發遊戲收入 於玩家關係期內或於耐 用類虛擬物品被耗用時 按比例予以確認,這與 上述由本集團擔當代理 直接經營第三方開發遊 戲的政策相似。
  • 自主開發的遊戲

自主開發遊戲的收入於玩家 關係期內或於耐用類虛擬物 品被耗用時按比例予以確 認,這與上述由本集團擔當 主事人期間的第三方開發遊 戲的政策相似。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.19 Revenue recognition (Continued)

(b) Licensing revenue

• The Group authorises third parties to operate its online games. The Group receives additional up-front license fees from certain third-party licensee operators who are entitled to an exclusive right to operate the Group's games in specified geographic areas. Revenue from licensing agreements is recognised when the game contents have been delivered to the third party licensees and when the Group has no further remaining obligations. Depending on the terms of the respective agreements, revenue is recognised either by point in time, whereas fixed and non-refundable upfront payments are received from the licensees upon commence of the license periods; or ratably over the license period when the Group is required to continue to provide services over the license periods.
• (c) Advertising revenue

The Group provides advertising placement for a specified period on the interface of online games. The Group recognises revenue ratably over the period during which the advertising services are provided.

(d) Contract liabilities and contract costs

For game publishing service revenues, contract liabilities primarily consist of royalty fees received in advance from customers, and the unamortised revenue from sales of Game Tokens and virtual items for web-based games and mobile games, where there is still an implied obligation to be provided by the Group. Such contract liabilities will be recognised as revenue when all of the revenue recognition criteria are met. For licensing revenue, contract liabilities represent the unamortised balance of the initial license fee paid by licensees where there is still an implied obligation to be provided by the Group and they will be recognised as revenue when all of the revenue recognition criteria are met.

Contract costs are mainly related to contract acquisition costs, which primarily consist of unamortised commission costs charged by distribution platforms. The Group recognises contract costs in relation to commission charged by distribution platforms, which meet contract acquisition cost criteria as an incremental cost of acquiring a customer contract. They are capitalised as contract acquisition costs and amortised over the respective Player Relationship Periods, which is consistent with the pattern of recognition of the associated revenue.

2 主要會計政策概要(續)

2.19 收入確認(續)

• (b) 特許權收入 本集團授權第三方經營其網絡遊 戲。本集團向有權獨家在特定地區 內經營本集團遊戲的若干第三方特 許營運商收取額外預付許可費用。 當遊戲內容交付予第三方特許營運 商且本集團並無進一步餘下責任 時,確認來自特許權協議的收入。 視乎相關協議的條款,收入於某個 時點(當特許權期間開始時從特許 營運商預收固定及不可退回款項之 時)或於特許權期間內按比例(當 本集團須要繼續於特許權期間提供 服務時)確認。
• (c) 廣告收入 本集團於指定期間在網絡遊戲界面 上提供廣告投放。本集團於提供廣 告服務期間按比例確認該項收入。
• (d) 合約負債及合約成本 就遊戲發行服務收入而言,合約負 債主要包括從客戶預收的版權費, 以及銷售用於網頁遊戲及手機遊 戲的遊戲代幣和虛擬物品所得的未 攤銷收入,當中本集團仍有隱含的 責任須予提供。該等合約負債將於 所有收入確認條件達致時確認為收 入。至於特許權收入而言,合約負 債指已由獲授權商支付的初步許可 費用的未攤銷結餘,當中本集團仍 有隱含的責任須予提供,將於所有 收入確認條件達致時確認為收入。

合約成本主要與合約收購成本有 關,而後者主要包括分銷平台所收 取的未攤銷佣金。本集團就分銷平 台收取的佣金確認合約成本,而該 等成本作為購入客戶合約的增量成 本符合合約收購成本的條件。該等 成本資本化成為合約收購成本並於 各自的玩家關係期內攤銷,符合相 關收入的確認模式。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.20 Leases

The Group leases various offices. Rental contracts are typically made for fixed periods of 1 to 9 years. Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not impose any covenants, but leased assets may not be used as security for borrowing purposes.

Leases are recognised as a right-of-use asset and a corresponding liability at the date at which the leased asset is available for use by the Group. Each lease payment is allocated between the liability and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis.

Assets and liabilities arising from a lease are initially measured on a present value basis. Lease liabilities include the net present value of the fixed payments (including in-substance fixed payments) less any lease incentives receivable.

The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee's incremental borrowing rate is used, being the rate that the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions.

2 主要會計政策概要(續)

2.20 租賃

本集團租賃多間辦公室。租約一般固定 為期1至9年。租賃條款按個別基準協商 且包含多種不同條款及條件。租賃協議 並無施加任何契約,惟租賃資產不得用 作借款的擔保品。

租賃於租賃資產可供本集團使用之日確 認為使用權資產及相應負債。每筆租賃 付款在負債及融資成本之間作分配。融 資成本於租期內自損益扣除,藉此制定 各期間負債結餘的固定週期利率。使用 權資產按資產可使用年期或租期(以較 短者為準)以直線法折舊。

租賃產生的資產及負債初步按現值計 量。租賃負債包括固定付款(包括實質 固定付款)減任何收取的租賃獎勵的淨 現值。

租賃付款採用租賃隱含的利率貼現。倘 無法釐定該利率,則使用承租人的增量 借款利率,即承租人在類似經濟環境中 按類似條款及條件借入獲得類似價值資 產所需資金所須支付的利率。

合併財務報表附註(續)

2 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

2.20 Leases (Continued)

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

• the amount of the initial measurement of lease liability
• any lease payments made at or before the commencement date less any lease incentives received

Payments associated with short-term leases are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less.

2.21 Interest income

Interest income mainly represents interest income from bank deposits and is recognised using effective interest method.

2.22 Dividend distribution

Dividend distribution to the Company's shareholders is recognised as a liability in the Group's and the Company's financial statements in the period in which the dividends are approved by the Company's shareholders or directors, where appropriate.

2.23 Government grants

Grants from the government are recognised at their fair value where there is a reasonable assurance that the grant will be received and the group will comply with all attached conditions.

Government grants relating to costs are deferred and recognised in the profit or loss over the period necessary to match them with the costs that they are intended to compensate.

2 主要會計政策概要(續)

2.20 租賃(續)

使用權資產按成本計量,包括以下各 項:

• 租賃負債的初步計量金額
• 於開始日期或之前所作的任何租賃 付款,減任何收取的租賃獎勵

與短期租賃相關的付款以直線法於損益 確認為開支。短期租賃指租賃期為12個 月或以下的租賃。

2.21 利息收入

利息收入主要指銀行存款的利息收入, 並採用實際利率法確認。

2.22 股息分派

分派予本公司股東的股息乃於股息獲本 公司股東或董事(視乎適用情況而定)批 准的期間在本集團及本公司的財務報表 內確認為負債。

2.23 政府補貼

來自政府的補貼於合理確定將會收取補 貼,且本集團符合所有附帶條件時按公 允價值確認。

有關成本的政府補貼遞延處理,並於需 要與有意補償的成本配對的期間內在損 益中確認。

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT

3.1 Financial risk factors

The Group's activities expose it to a variety of financial risks: market risk (including currency risk and interest rate risk), credit risk and liquidity risk. The Group's overall risk management strategy seeks to minimise the potential adverse effects on the financial performance of the Group.

Risk management is carried out by the senior management of the Group and approved by the Board of Directors.

• (a) Market risk
• (i) Foreign exchange risk

The Group operates internationally and is exposed to foreign exchange risk arising from various currency exposures, primarily with respect to Renminbi ("RMB"), EURO ("EUR") and Hong Kong dollar ("HKD"). Foreign exchange risk arises when future commercial transactions, recognised assets and liabilities and net investment in foreign operations. The finance department of the Group is responsible for monitoring and managing the net position in each foreign currency. The Group currently does not hedge transactions undertaken in foreign currencies but manages its exposure through constant monitoring to limit as much as possible the amount of its foreign currencies exposures.

The Group has certain investments in foreign operations particularly in the PRC, Spain and Hong Kong, whose net assets are exposed to foreign currency translation risk. Currency exposure arising from the net assets of the Group's foreign operations considered not material therefore no separated sensitive analysis is included.

3 財務風險管理

3.1 財務風險因素

本集團的活動涉及多種財務風險:市場 風險(包括貨幣風險及利率風險)、信貸 風險及流動資金風險。本集團的整體風 險管理策略尋求盡量減低對本集團財務 表現產生的潛在不利影響。

風險管理由本集團高級管理層執行並由 董事會批准。

• (a) 市場風險
• (i) 外匯風險 本集團在國際市場經營業 務,須承受因各種貨幣風險 引致的外匯風險,主要涉及 人民幣(「人民幣」)、歐元 (「歐元」)及港元(「港元」)。 外匯風險乃因未來商務交 易、已確認資產及負債以及 於海外業務的淨投資而產 生。本集團的財務部負責監 察及管理每種外幣的淨額狀 況。本集團目前並無對外幣 進行對沖交易,但透過不斷 監察以盡可能限制其外幣風 險金額,從而管理其所承受 的風險。

本集團有若干於海外業務的 投資,特別是於中國、西班 牙及香港,該等業務的淨資 產涉及外幣換算風險。本集 團的海外業務淨資產所產生 的貨幣風險被視為不重大, 因此並無載入獨立敏感度分 析。

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

• (a) Market risk (Continued)
• (i) Foreign exchange risk (Continued) For the year ended December 31, 2020, if USD had weakened/strengthened by 5% against RMB with all other variables held constant, post-tax loss for the year would have been approximately USD172,000 (2019: USD50,000) higher/lower, respectively, mainly as a result of foreign exchange gains/losses on translation of RMB-denominated receivables and payables.

For the year ended December 31, 2020, if USD had weakened/strengthened by 5% against EUR with all other variables held constant, post-tax loss for the year would have been approximately USD94,000 (2019: USD62,000) lower/higher, respectively, mainly as a result of foreign exchange gains/losses on translation of EUR-denominated cash and cash equivalents.

The cash and cash equivalents, receivables and payables of the Group's Hong Kong entities are denominated in HKD, which is pegged against USD, and are not therefore subject to significant foreign currency risk.

(ii) Interest rate risk

Other than interest-bearing bank deposits and short-term deposits, the Group has no other significant interest-bearing assets. The directors of the Company do not anticipate there is any significant impact to interest-bearing assets resulted from the changes in interest rates, because the interest rates of bank balances are not expected to change significantly.

3 財務風險管理(續)

3.1 財務風險因素(續)

• (a) 市場風險(續)
• (i) 外匯風險(續)

截至二零二零年十二月三十 一日止年度,倘美元兌人民 幣貶值╱升值5%而所有其他 變數維持不變,則年內除稅 後溢利應分別增加╱減少約 172,000美元(二零一九年: 50,000美元),主要是由於換 算人民幣計值的應收款項及 應付款項產生的匯兌收益╱ 虧損。

截至二零二零年十二月三十 一日止年度,倘美元兌歐元 貶值╱升值5%而所有其他 變數維持不變,則年內除稅 後虧損應分別減少╱增加約 94,000美元(二零一九年: 62,000美元),主要是由於換 算人民幣計值的現金及現金 等價物產生的匯兌收益╱虧 損。

本集團的香港實體的現金及 現金等價物、應收款項及應 付款項以港元計值,而港元 與美元掛鈎,因此並無承受 重大外幣風險。

(ii) 利率風險 除計息銀行存款及短期存款 外,本集團並無其他重大計 息資產。本公司董事預期利 率變動將不會對計息資產造 成任何重大影響,因為銀行 結餘的利率預期不會有重大 變動。

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

(a) Market risk (Continued)

(iii) Price risk

The Group's exposure to equity securities price risk arises from investments held by the Group and classified in the balance sheet as at FVOCI (Note 9). The investments are made either for strategic purpose or for the purpose of achieving investment yield. Each investment is managed by senior management on a case by case basis.

Sensitivity analysis is performed by management to assess the exposure of the Group's financial results to equity price risk of financial assets at FVOCI. If equity prices of the respective instruments held by the Group had been 5% higher/lower as at December 31, 2020, the other comprehensive income would have been approximately USD58,000 (2019: USD48,000) higher/lower.

(b) Credit risk

The Group is exposed to credit risk in relation to its cash and bank deposits, trade and other receivables.

3 財務風險管理(續)

3.1 財務風險因素(續)

(a) 市場風險(續)

(iii) 價格風險 本集團面對因本集團所持有 並在資產負債表內分類為按 公允價值計量且其變動計入 其他全面收益的投資而產生 的股本證券價格風險(附註 9)。該等投資是就策略目的 或達致投資收益而作出。每 項投資均由高級管理層按個 別情況管理。

管理層進行敏感度分析,以 評估本集團財務業績所面對 的按公允價值計量且其變動 計入其他全面收益的金融資 產的股本價格風險。倘本集 團所持有個別工具的股本價 格於二零二零年十二月三十 一日升╱跌5%,則其他全面 收益應會升╱跌約58,000美 元(二零一九年:48,000美 元)。

(b) 信貸風險 本集團涉及與其現金及銀行存款、 貿易及其他應收款項有關的信貸風 險。

156 Digital Hollywood Interactive Limited Annual Report 2020

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

• (b) Credit risk (Continued)
• (i) Risk management

The carrying amounts of each class of the above financial assets represent the Group's maximum exposure to credit risk in relation to financial assets. To manage this risk arising from cash and bank deposits, the Group only transacts with reputable commercial banks which are all high-credit-quality financial institutions in the PRC and Hong Kong. There has been no recent history of default in relation to these financial institutions.

Individual balances of trade receivables exceeding 10% of the Group's total trade receivables as at December 31, 2020 accounted for approximately 58% (2019: 68%) of the Group's total trade receivables.

Trade receivables and certain other receivables at the end of each reporting period were due from the Platforms and payment channels in cooperation with the Group. If the strategic relationship with the Platforms and payment channels is terminated or scaled-back; or if the Platforms and payment channels alter the co-operative arrangements; or if they experience financial difficulties in paying the Group, the Group's game development receivables might be adversely affected in terms of recoverability. To manage this risk, the Group maintains frequent communications with the Platforms and payment channels to ensure the effective credit control. In view of the history of cooperation with the Platforms and payment channels and the sound collection history of receivables due from them, the directors of the Company believe that the credit risk inherent in the Group's outstanding trade receivable balances due from the Platforms and payment channels is low.

3 財務風險管理(續)

3.1 財務風險因素(續)

(b) 信貸風險(續)

(i) 風險管理 以上各類金融資產的賬面值 即本集團面臨與金融資產有 關的最大信貸風險。為管理 由現金及銀行存款引致的風 險,本集團僅與均為中國及 香港高信貸質量金融機構並 具良好信譽的商業銀行交 易。該等金融機構概無近期 拖欠還款的記錄。

於二零二零年十二月三十一 日,個別貿易應收款項餘額 超過本集團貿易應收款項總 額的10%,佔本集團貿易應 收款項總額約58%(二零一九 年:68%)。

於各報告期末的貿易應收款 項及若干其他應收款項乃應 收與本集團合作的平台及付 款渠道的款項。倘與平台及 付款渠道的策略性關係終止 或規模縮減;或倘平台及付 款渠道更改合作安排;或倘 彼等在向本集團還款方面遇 到財務困難,本集團的遊戲 開發應收款項的可收回性可 能受到不利影響。為管理此 風險,本集團與平台及付款 渠道保持緊密聯繫,確保有 效的信貸控制。鑑於與平台 及付款渠道的過往合作及向 彼等收取應收款項的過往收 款記錄良好,本公司董事相 信本集團應收平台及付款渠 道的未償還貿易應收款項結 餘的固有信貸風險為低。

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

(b) Credit risk (Continued)

(i) Risk management (Continued)

For other receivables not due from payment channels, management makes periodic collective assessments as well as individual assessment on the recoverability of other receivables based on historical settlement records and past experience. The directors of the Company believe that there is no material credit risk inherent in the Group's outstanding balance of other receivables.

(ii) Impairment of financial assets Cash and bank deposits

To manage this risk, the Group only makes transactions with state-owned banks and financial institutions in the PRC and reputable international banks and financial institutions outside of the PRC. There has been no recent history of default in relation to these banks and financial institutions. The expected credit loss was immaterial.

Trade receivables

The Group applies the IFRS 9 simplified approach to measuring expected credit losses which uses a lifetime expected loss allowance for all trade receivables, which is calculated using a provision matrix (including the use of internal and external data sources) where a fixed provision rate applies depending on the shared credit risk characteristics of the trade receivables.

In assessing the shared credit risk characteristics of the trade receivables, the Group takes into account reasonable and supportable information that is available without undue cost or effort. This includes information about past events, current conditions and forecasts of future economic conditions.

3 財務風險管理(續)

3.1 財務風險因素(續)

• (b) 信貸風險(續)
• (i) 風險管理(續)

就其他並非由付款渠道結欠 的應收款項而言,管理層根 據過往結算記錄及過往經 驗,對其他應收款項的可收 回性作出定期的集體評估以 及個別評估。本公司董事相 信,本集團其他應收款項的 未償還結餘並無固有的重大 信貸風險。

(ii) 金融資產減值

現金及銀行存款 為管理此風險,本集團只會 與中國的國有銀行及金融機 構以及中國境外具聲譽的國 際銀行及金融機構進行交 易。近期並無有關該等銀行 及金融機構的違約事件。預 期信貸風險並不重大。

貿易應收款項

本集團採用國際財務報告準 則第9號的簡化方法計量預期 信貸虧損,其中就所有貿易 應收款項使用全期預期虧損 撥備,並使用撥備矩陣計算 (包括使用內部及外部數據來 源),其中根據貿易應收款項 的共有信貸風險特性而應用 固定撥備率。

在評估貿易應收款項的共有 信貸風險特性時,本集團考 慮合理及有理據而毋須付出 不必要的成本或人力資源獲 得的資料。此包括過往事 件、當前狀況及未來經濟狀 況預測等資料。

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

trade receivables:

(b) Credit risk (Continued)

(ii) Impairment of financial assets (Continued)

Trade receivables (Continued) On that basis, the loss allowance as at December 31, 2020 and 2019 was determined as follows for 3 財務風險管理(續)

3.1 財務風險因素(續)

(b) 信貸風險(續) (ii) 金融資產減值(續) 貿易應收款項(續) 按此基準,於二零二零年及 二零一九年十二月三十一日 就貿易應收款項釐定以下的 虧損撥備:

		Category 1 第一類	Category 2 第二類	Category 3 第三類	Category 4 第四類	Total 總計
Expected loss rate	預期虧損率	5%	30%	50%	100%
Loss allowance as at December 31, 2020 Loss allowance as at	於二零二零年十二月 三十一日的虧損撥備 於二零一九年十二月	66,366	10,870	4,676	3,448,108	3,530,020
December 31, 2019	三十一日的虧損撥備	116,733	2,643	10,548	2,816,648	2,946,572
* receivables are as follows:	The Group's loss allowance categories of trade			*	損撥備類別如下:	本集團貿易應收款項的虧
	Category 1 – Highest grade, lowest credit risk				信貸風險	第一類-最高級別,最低
	Category 2 – Medium grade, low credit risk				貸風險	第二類-中間級別,低信
	Category 3 – Poor standing, high credit risk				風險	第三類-低級別,高信貸
credit risk	Category 4 – High likelihood of default, very high				非常高的信貸風險	第四類-高違約可能性,
	The Group applies the IFRS 9 simplified approach				本集團應用國際財務報告準
	to measuring expected credit losses which uses				則第9號的簡化方法,以計量
receivables.	a lifetime expected loss allowance for all trade				預期信貸虧損,其中就所有 貿易應收款項使用全期預期

虧損撥備。

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

(b) Credit risk (Continued)

(ii) Impairment of financial assets (Continued) Trade receivables (Continued) The closing loss allowances for trade receivables as at December 31, 2020 and 2019 reconcile to the opening loss allowances as follows:

3 財務風險管理(續)

3.1 財務風險因素(續)

(b) 信貸風險(續) (ii) 金融資產減值(續) 貿易應收款項(續) 於二零二零年及二零一九年 十二月三十一日貿易應收款 項的年末虧損撥備與年初虧 損撥備對賬如下:

零一九年:78,347美元)。

		Trade receivables
		貿易應收款項
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Opening loss allowance as at January 1	於一月一日的年初虧損撥備	2,946,572	1,635,576
Receivables written off during the year	年內因不可收回而撇銷的
as uncollectible	應收款項	(20,567)	(73,679)
Provision for trade receivables	貿易應收款項撥備	513,351	1,384,675
Currency translation differences	貨幣換算差額	90,664	–
	於十二月三十一日的年末
Closing loss allowance as at December 31	虧損撥備
		3,530,020	2,946,572
			貿易應收款項的減值虧損乃
Impairment loss on trade receivables are presented			於經營溢利內列作減值虧損
as net impairment loss within operating profit.			淨額。先前撇銷而其後收回
Subsequent recoveries of amounts previously written off are credited against the same line item.		的金額與相同項目對銷。
Other receivables		其他應收款項
Impairment on other receivables is measured as			其他應收款項的減值按12個
either 12-month expected credit losses or lifetime			預期信貸虧損或全期預期信
expected credit losses, depending on whether there			貸虧損計量,視乎自初始確
has been a significant increase in credit risk since			認後信貸風險是否大幅增加
initial recognition. If a significant increase in credit			而定。倘自初始確認後存款
risk of a deposit or receivable has occurred since			及應收款項的信貸風險大幅
initial recognition, the impairment is measured as			增加,則按全期預期信貸虧
lifetime expected credit losses. Based on the Group's			損計量減值。根據本集團對
assessment on other receivables, impairment			其他應收款項的評估,於二
provision of USD96,759 was made as at December			零二零年十二月三十一日作
31, 2020 (2019: USD78,347).			出減值撥備96,759美元(二

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.1 Financial risk factors (Continued)

(c) Liquidity risk

The Group aims to maintain sufficient cash and cash equivalents. Due to the dynamic nature of the underlying businesses, the Group's finance department maintains flexibility in funding by maintaining adequate cash and cash equivalents.

The table below analyses the Group's non-derivative financial liabilities into relevant maturity groupings based on the remaining period at the balance sheet date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows.

3 財務風險管理(續)

3.1 財務風險因素(續)

(c) 流動資金風險 本集團旨在保持足夠的現金及現金 等價物。由於相關業務的動態性 質,本集團的財務部透過保持足夠 的現金及現金等價物,以維持資金 靈活性。

下表按於結算日至合約到期日的剩 餘期間分析本集團按相關到期組別 劃分的非衍生金融負債。表內披露 的金額為合約未貼現現金流量。

			Between	Between
		Less than	1 year and	2 years and	Over
		1 year	2 years	5 years	5 years	Total
		少於1年	1年至2年	2年至5年	5年以上	總計
		USD	USD	USD	USD	USD
		美元	美元	美元	美元	美元
At December 31, 2020	於二零二零年
	十二月三十一日
Lease Liabilities	租賃負債	400,122	392,087	1,186,477	281,746	2,260,432
Trade and other payables and	貿易及其他應付款項
accruals (excluding salary	和應計費用(不包括
and staff welfare payables	應付薪金及員工
and taxes payable)	福利及應繳稅項)	5,192,840	–	–	–	5,192,840
		5,592,962	392,087	1,186,477	281,746	7,453,272
At December 31, 2019	於二零一九年
	十二月三十一日
Lease Liabilities	租賃負債	382,980	373,452	1,100,327	643,411	2,500,170
Trade and other payables and	貿易及其他應付款項
accruals (excluding salary	和應計費用(不包括
and staff welfare payables	應付薪金及員工
and taxes payable)	福利及應繳稅項)	4,666,865	–	–	–	4,666,865
		5,049,845	373,452	1,100,327	643,411	7,167,035

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.2 Capital management

The Group's objectives when managing capital are to safeguard the Group's ability to continue as a going concern in order to provide returns for shareholders and benefits for other stakeholders and to maintain an optimal capital structure to reduce the cost of capital.

The Group monitors capital (including share capital and capital reserves) by regularly reviewing the capital structure. As a part of this review, the directors of the Company consider the cost of capital. In order to maintain or adjust the capital structure, the Group may adjust the amount of dividends paid to shareholders, return capital to shareholders, issue new shares or sell assets to reduce debt. In the opinion of the directors of the Company, the Group's capital risk is low.

3.3 Fair value estimation

The Group's financial instruments are carried at fair value as at balance sheet dates, by level of the inputs to valuation techniques used to measure fair value. Such inputs are categorised into three levels within a fair value hierarchy as follows:

• Quoted prices (unadjusted) in active markets for identical assets or liabilities (level 1).
• Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (that is, as prices) or indirectly (that is, derived from prices) (level 2).
• Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3).

3 財務風險管理(續)

3.2 資本管理

本集團管理資本的目標是保障本集團繼 續持續經營的能力,從而為股東提供回 報及為其他利益相關者提供利益,以及 維持最佳的資本結構以減低資本成本。

本集團透過定期檢討資本結構以監察資 本(包括股本及資本儲備)。作為是項 檢討的一部份,本公司董事考慮資本成 本。為維持或調整資本結構,本集團或 會調整向股東派付的股息金額、向股東 退還資本、發行新股份或出售資產以減 低債務。本公司董事認為,本集團的資 本風險低。

3.3 公允價值估算

本集團的金融工具乃根據用以計量公允 價值的估值法的輸入值等級按結算日的 公允價值列賬。該等輸入值於公允價值 等級制內分類為三個等級如下:

• 相同資產或負債於活躍市場的報價 (未經調整)(第一級)。
• 該資產或負債的可觀察輸入值(不 包括第一級所包括的報價),不論 直接(即價格)或間接(即源自價 格)(第二級)。
• 就該資產或負債而非基於可觀察的 市場數據的輸入值(即不可觀察輸 入值)(第三級)。

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.3 Fair value estimation (Continued)

No asset instruments carried in level 2 or level 3 for the year ended December 31, 2020 and 2019. The following table presents the Group's financial instruments that are measured at fair value using level 1 inputs:

3 財務風險管理(續)

3.3 公允價值估算(續)

截至二零二零年及二零一九年十二月三 十一日止年度,並無在第二級或第三級 結轉資產工具。下表列示本集團使用第 一級輸入值按公允價值計量的金融工 具:

		As at December 31,
		於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Financial assets	金融資產
– Financial assets at FVOCI (Note 9)	-按公允價值計量且其變動計入
	其他全面收益的金融資產
	(附註9)	1,164,245	963,185

The fair value of financial instruments traded in active markets is based on quoted market prices at the balance sheet dates. A market is regarded as active if quoted prices are readily and regularly available from an exchange, dealer, broker, industry group, pricing service, or regulatory agency, and those prices represent actual and regularly occurring market transactions on an arm's length basis. The quoted market price used for financial assets held by the Group is the current bid price. These instruments are included in level 1.

於活躍市場買賣的金融工具的公允價值 乃按於結算日的市場報價計算。倘報價 隨時及定期可從交易所、交易商、經紀 行、行業團體、定價服務,或監管機關 取得,而該等價格代表按公平原則實際 及定期發生的市場交易,則市場被視為 活躍。就本集團所持有的金融資產採用 的市場報價乃指當前買入價。該等工具 計入第一級內。

合併財務報表附註(續)

3 FINANCIAL RISK MANAGEMENT (Continued)

3.3 Fair value estimation (Continued)

The fair value of financial instruments that are not traded in an active market is determined by using valuation techniques. These valuation techniques maximise the use of observable market data where it is available and rely as little as possible on entity specific estimates. If all significant inputs required for evaluating the fair value of a financial instrument are observable, the instrument is included in level 2.

If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

Specific valuation techniques used to value financial instruments include:

• Dealer quotes for similar instruments;
• The fair value of interest rate swaps is calculated as the present value of the estimated future cash flows based on observable yield curves; and
• Other techniques, such as discounted cash flow analysis, are used to determine fair value for financial instruments.

3 財務風險管理(續)

3.3 公允價值估算(續)

並非於活躍市場買賣的金融工具的公允 價值乃採用估值法釐定。該等估值法盡 量使用可觀察的市場數據(如有)及盡可 能不依賴實體特定估計。倘評估金融工 具公允價值所需的所有重大輸入值均可 觀察,該工具則計入第二級內。

倘一項或以上的重大輸入值並非基於可 觀察的市場數據,該工具計入第三級內。

用於評估金融工具價值的具體估值法包 括:

• 交易商就同類工具的報價;
• 利率掉期的公允價值乃根據可觀察 孳息曲線,計算為估計未來現金流 量的現值;及
• 其他方法,如貼現現金流量分析, 乃用於釐定金融工具的公允價值。

合併財務報表附註(續)

4 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS

Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

4.1 C r i t i c a l a c c o u n t i n g e s t i m a t e s a n d assumptions

The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below.

(a) Estimates of the Player Relationship Period in the Group's game development

As described in Note 2.19, the Group recognises revenue from durable virtual items ratably over the Player Relationship Period. The determination of Player Relationship Period in each game is based on the Group's best estimate that takes into account all known and relevant information at the time of assessment. Such estimates are subject to re-evaluation on a semi-annual basis. Any adjustments arising from changes in the Player Relationship Period as a result of new information will be accounted for prospectively as a change in accounting estimate.

4 關鍵會計估計及判斷

估計及判斷會持續予以評估,並以過往經驗及 其他因素(包括在某些情況下對未來事件的合 理預期)為依據。

4.1 關鍵會計估計及假設

本集團就未來作出估計及假設。根據定 義,由此產生的會計估計極少與相關的 實際結果相符。很可能引致須於下一個 財政年度內對資產及負債的賬面值進行 重大調整的估計及假設討論如下。

(a) 對本集團遊戲開發過程中玩家 關係期的估計 如附註2.19所述,本集團於玩家關 係期按比例確認耐用類虛擬物品的 收入。每個遊戲的玩家關係期乃根 據本集團的最佳估計釐定,當中計 及於評估時所有已知及相關資料。 該等估計每半年重新評估一次。因 新資料導致玩家關係期變動所引起 的任何調整將作為預期的會計估計 變動入賬。

合併財務報表附註(續)

4 CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS (Continued)

4.1 C r i t i c a l a c c o u n t i n g e s t i m a t e s a n d assumptions (Continued)

• (b) Impairment of financial assets The loss allowances for financial assets are based on assumptions about risk of default and expected loss rates. The group uses judgement in making these assumptions and selecting the inputs to the impairment calculation, based on the group's past history existing market conditions as well as forward-looking estimates at the end of each reporting period. Details of the key assumptions and inputs used are disclosed in the tables in Note 3.
• (c) Current and deferred income taxes

The Group is subject to income taxes in numerous jurisdictions. Significant judgement is required in determining the worldwide provision for income taxes. There are many transactions and calculations for which the ultimate tax determination is uncertain. The Group recognises liabilities for anticipated tax audit issues based on estimates of whether additional taxes will be due. Where the final tax outcome of these matters is different from the amounts that were initially recorded, such differences will impact the current and deferred tax assets and liabilities in the period in which such determination is made.

4 關鍵會計估計及判斷(續)

4.1 關鍵會計估計及假設(續)

• (b) 金融資產減值 金融資產的虧損撥備乃建基於對違 約風險及預期虧損率的假設。本集 團在作出該等假設時運用判斷,並 根據本集團過往經驗、現行市場狀 況及於各報告期末的前瞻性估計, 選擇用作計算減值的輸入數據。有 關主要假設及輸入數據的詳情在附 註3的列表內披露。
• (c) 即期及遞延所得稅 本集團須在多個司法權區繳納所得 稅。於釐定全球所得稅的撥備時須 作出重大判斷。多項交易及計算導 致未能確定最終所定稅項。本集團 根據對會否需要繳納額外稅項的估 計,確認對預期稅務審核事宜的負 債。倘若該等事宜的最終稅務結果 與初步入賬金額有所不同,有關差 額將影響作出有關決定期間的即期 及遞延稅項資產及負債。

合併財務報表附註(續)

5 收入及分部資料 5 REVENUE AND SEGMENT INFORMATION

(a) 來自客戶合約的收入之分拆 (a) Disaggregation of revenue from contracts with customers

		Year ended December 31, 截至十二月三十一日止年度
			2020	2019
		二零二零年		二零一九年
			USD	USD
			美元	美元
Online game revenue	網絡遊戲收入	17,537,512		17,807,719
Licensing revenue	特許權收入		10,417	101,962
Advertising revenue	廣告收入		2,383	9,308
		17,550,312		17,918,989
Timing of revenue recognition, by category:		按類別劃分之收入確認時間性:
				Year ended December 31,
				截至十二月三十一日止年度
			2020	2019
		二零二零年		二零一九年
			USD	USD
			美元	美元

Over time 隨時間過去 17,550,312 17,918,989

合併財務報表附註(續)

5 REVENUE AND SEGMENT INFORMATION (Continued)

(a) Disaggregation of revenue from contracts with customers (Continued)

For management purpose, the executive directors of the Company consider that the Group generates revenue primarily from the provision of online game services. The executive directors of the Company review the operating results of the business as one segment to make strategic decisions about resources to be allocated. Therefore, the executive directors of the Company consider that there is only one segment of the Group.

The Group has a large number of game players, no individual game players generated revenue which exceeded 10% or more of the Group's revenue for the year ended December 31, 2020 (2019: same).

The revenue generated from top five largest revenue collection platforms, accounted for 69% (2019: 64%) of the Group's revenue for the year ended December 31, 2020.

Company A was the Group's game licensor. The revenue generated from the games licensed by Company A accounted for 20% (2019: 22%) of the Group's revenue for the year ended December 31, 2020.

Company B was one of the Group's game licensors.The revenue generated from the games licensed by Company B accounted for 11% (2019: 14%) of the Group's revenue for the year ended December 31, 2020.

Revenue from games licensed by a single company or group which exceeded 10% totally accounted for 31% (2019: 36%) of the Group's revenue for the year ended December, 2020.

Besides that, no revenue from games licensed by a single company or group exceeded 10% or more of the Group's revenue for the year ended December 31, 2020 (2019: same).

5 收入及分部資料(續)

(a) 來自客戶合約的收入之分拆 (續)

就管理目的而言,本公司執行董事認為 本集團主要通過提供網絡遊戲服務產生 收入。本公司執行董事將業務作為一個 分部而審閱經營業績,以作出有關資源 分配的策略性決定。因此,本公司執行 董事認為本集團僅有一個分部。

本集團擁有數目龐大的遊戲玩家,概無 個別遊戲玩家產生的收入超過本集團於 截至二零二零年十二月三十一日止年收 入的10%或以上(二零一九年:相同)。

來自五大收入收款平台的收入佔本集團 截至二零二零年十二月三十一日止年度 的收入的69%(二零一九年:60%)。

公司A為本集團的遊戲授權人。來自公 司A所授權遊戲的收入佔本集團截至二 零二零年十二月三十一日止年度的收入 20%(二零一九年:22%)。

公司B為本集團的遊戲授權人之一。來 自公司B所授權遊戲的收入佔本集團截 至二零二零年十二月三十一日止年度的 收入11%(二零一九年:14%)。

來自單一公司或集團所授權遊戲而佔本 集團收入超過10%的收入,合共佔本集 團截至二零二零年十二月三十一日止年 度的收入的31%(二零一九年:36%)。

除此之外,於截至二零二零年十二月三 十一日止年度,概無來自單一公司或集 團授權的遊戲的收入超過本集團收入的 10%或以上(二零一九年:相同)。

合併財務報表附註(續)

5 收入及分部資料(續) 5 REVENUE AND SEGMENT INFORMATION (Continued)

(b) Segment assets

Non-current assets other than financial instruments and deferred income tax assets, by country:

(b) 分部資產

按國家劃分的非流動資產(金融工具及 遞延所得稅資產除外):

			As at December 31,
			於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
BVI	英屬處女群島	3,500,000	4,801,266
The PRC	中國	3,570,988	4,022,920
Hong Kong	香港	366,352	680,660
Other locations	其他地點	73,261	58,544
		7,510,601	9,563,390

合併財務報表附註(續)

5 REVENUE AND SEGMENT INFORMATION (Continued) 5 收入及分部資料(續)

(c) Assets and liabilities related to contracts with customers

(c) 與客戶合約有關的資產及負 債

產:

As at December 31,

本集團已確認以下與客戶合約有關的資

The Group has recognised the following assets related to contracts with customers:

			於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Contract costs – unamortised	合約成本-由發行平台收取的
commission cost charged by	未攤銷佣金成本
distribution platforms		616,740	771,402
The Group has recognised the following liabilities related to contracts with customers:		本集團已確認以下與客戶合約有關的負 債:
			As at December 31,
			於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Contract liabilities – unamortised	合約負債-銷售用於網頁遊戲及
revenue from sales of Game Tokens	手機遊戲的遊戲代幣和虛擬物品
and virtual items for web-based	所得的未攤銷收入
games and mobile games		1,765,490	2,850,210
Contract liabilities – royalty	合約負債-預先收取的版權費
fees received in advance		413,307	377,380
Contract liabilities – unamortised	合約負債-初步許可費用的
balance of the initial license fee	未攤銷結餘	270,000	280,417

合併財務報表附註(續)

5 收入及分部資料(續) 5 REVENUE AND SEGMENT INFORMATION (Continued)

(c) Assets and liabilities related to contracts with customers (Continued)

The following table shows how much of the revenue recognised in the current reporting period relates to carried-forward contract liabilities and how much relates to performance obligations that were satisfied in a prior year:

(c) 與客戶合約有關的資產及負 債(續)

下表列示於本報告期內確認的收入有多 少與結轉的合約負債有關,以及有多少 與於上年度已履行的履約責任有關:

		As at December 31,
		於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Revenue recognised that was included	計入期初合約負債結餘的已確認收入
in the contract liability balance at the
beginning of the period
Online game revenue	網絡遊戲收入	2,857,371	3,055,101
– Unamortised revenue from sales	-來自銷售的未攤銷收入	2,850,210	3,041,248
– royalty fees	-版權費	7,161	13,853
Licensing revenue	特許權收入	10,417	101,962
		2,867,788	3,157,063

合併財務報表附註(續)

5 REVENUE AND SEGMENT INFORMATION (Continued)

(c) Assets and liabilities related to contracts with customers (Continued)

The Group has recognised contract costs in relation to commission costs charged by distribution platforms. The following table shows how much of the costs recognised in the current reporting period relates to contract costs.

5 收入及分部資料(續)

(c) 與客戶合約有關的資產及負 債(續)

本集團已就發行平台收取的佣金成本確 認合約成本。下表列示於本報告期內確 認的成本有多少與合約成本有關。

		As at December 31,
			於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Asset recognised from costs incurred	於十二月三十一日因包含合約所產生
to contain a contract at 31 December	成本而確認的資產	616,740	771,402
Amortisation recognised as commission	於期內確認為佣金開支的攤銷
charges during the period (Note 23)	(附註23)	6,116,321	7,020,942

合併財務報表附註(續)

6 PROPERTY, PLANT AND EQUIPMENT

6 物業、廠房及設備

	Office		Leasehold	Motor
	equipment	Computers	improvements	vehicles	Total
	辦公室設備	電腦	租賃物業裝修	汽車	總計
	USD	USD	USD	USD	USD
	美元	美元	美元	美元	美元
截至二零二零年十二月三十一日止年度
年初賬面淨值	27,578	105,873	1,751,519	90,947	1,975,917
添置	–	3,332	–	–	3,332
出售	–	(573)	–	–	(573)
折舊費用(附註(a))	(23,216)	(48,284)	(268,750)	(21,827)	(362,077)
貨幣換算差額	614	1,180	125,163	–	126,957
					1,743,556
於二零二零年十二月三十一日
成本	111,657	439,123	2,320,486	109,137	2,980,403
累計折舊	(106,681)	(377,595)	(712,554)		(40,017) (1,236,847)
					1,743,556
截至二零一九年十二月三十一日止年度
年初賬面淨值	43,479	142,376	1,921,273	–	2,107,128
添置	2,237	29,947	115,808	109,137	257,129
折舊費用(附註(a))	(17,857)	(65,440)	(268,380)	(18,190)	(369,867)
貨幣換算差額	(281)	(1,010)	(17,182)	–	(18,473)
					1,975,917
於二零一九年十二月三十一日
成本	112,065	425,983	2,175,076	109,137	2,822,261
累計折舊	(84,487)	(320,110)	(423,557)	(18,190)	(846,344)
	年末賬面淨值 賬面淨值 年末賬面淨值	4,976 4,976 27,578	61,528 61,528 105,873	1,607,932 1,607,932 1,751,519	69,120 69,120 90,947

(a) Depreciation charges were charged to administrative expenses during the year ended December 31, 2020 and 2019.

(a) 於截至二零二零年及二零一九年十二月三十一 日止年度,折舊費用計入行政開支。

合併財務報表附註(續)

7 LEASES

7 租賃

(a) Amounts recognised in the consolidated balance sheets		(a) 在合併資產負債表確認的金 額
The consolidated balance sheets show the following amounts relating to leases:		合併資產負債表列示以下與租賃有關的 金額:
		As at December 31, 於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Right-of-use assets	使用權資產
Properties	物業	1,633,824	1,843,078
Lease liabilities	租賃負債
Current	即期	295,702	270,123
Non-current	非即期	1,623,045	1,800,872
		1,918,747	2,070,995

There was no additions to the right-of-use assets during the year ended 31 December 2020 (2019: USD68,093).

於截至二零二零年十二月三十一日止 年度,使用權資產並無增加(二零一九 年:68,093美元)。

合併財務報表附註(續)

7 LEASES (Continued)

(b) Amounts recognised in the consolidated statements of comprehensive income

The consolidated statement of comprehensive income show the following amounts relating to leases:

7 租賃(續)

(b) 在合併全面收益表確認的金 額

合併全面收益表列示以下與租賃有關的 金額:

		Year ended December 31,
		截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Depreciation charge of right-of-use assets	使用權資產的折舊開支
Properties	物業	313,095	289,512
Interest expense (included in finance costs)	利息開支(計入財務成本)	114,026	114,612
Expense relating to short-term leases	與短期租賃有關的開支
(included in administrative expenses)	(計入行政開支)	25,055	33,411

The total cash outflow for leases during the year ended December 31, 2020 was USD425,178 (2019: USD359,761).

於截至二零二零年十二月三十一日止 年度,有關租賃之現金流出總額為 425,178美元(二零一九年:359,761美 元)。

合併財務報表附註(續)

8 INTANGIBLE ASSETS 8 無形資產

		Game
		intellectual
		properties	Computer
		and licenses	software	Total
		遊戲知識產權
		及許可權	電腦軟件	總計
		USD	USD	USD
		美元	美元	美元
Year ended December 31, 2020	截至二零二零年
	十二月三十一日止年度
Opening net book amount	年初賬面淨值
Additions	添置	1,849,360	13,462	1,862,822
Amortisation (Note (a))	攤銷(附註(a))	213,000	5,745	218,745
Impairment charge (Note (b))		(469,254)	(7,041)	(476,295)
Currency translation differences	減值開支(附註(b)) 貨幣換算差額	(1,197,113)	–	(1,197,113)
		10,186	485	10,671
Closing net book amount	年末賬面淨值	406,179	12,651	418,830
At December 31, 2020	於二零二零年十二月三十一日
Cost	成本	3,700,214	51,079	3,751,293
Accumulated impairment	累計減值	(1,328,335)	–	(1,328,335)
Accumulated amortisation	累計攤銷	(1,965,700)	(38,428)	(2,004,128)
Net book amount	賬面淨值	406,179	12,651	418,830
Year ended December 31, 2019	截至二零一九年
	十二月三十一日止年度
Opening net book amount	年初賬面淨值	2,294,452	21,872	2,316,324
Additions	添置	341,846	–	341,846
Amortisation (Note (a))	攤銷(附註(a))	(655,724)	(8,130)	(663,854)
Impairment charge	減值開支	(128,920)	–	(128,920)
Currency translation differences	貨幣換算差額	(2,294)	(280)	(2,574)
Closing net book amount	年末賬面淨值	1,849,360	13,462	1,862,822
At December 31, 2019
	於二零一九年十二月三十一日
Cost	成本	3,463,798	42,176	3,505,974
Accumulated impairment Accumulated amortisation	累計減值 累計攤銷	(128,558)	–	(128,558)
		(1,485,880)	(28,714)	(1,514,594)
Net book amount	賬面淨值	1,849,360	13,462	1,862,822

合併財務報表附註(續)

8 INTANGIBLE ASSETS (Continued)

(a) Amortisation charges were expensed in the following categories in the consolidated statement of comprehensive income:

8 無形資產(續)

(a) 攤銷費用於合併全面收益表內於以下類 別支銷:

		Year ended December 31, 截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Cost of revenue	成本	319,143	475,991
As a reduction to revenue	作為收入的扣減	150,111	179,733
Administrative expenses	行政開支	7,041	8,130
		476,295	663,854

• (b) Of total impairment charge, during year ended December 31, 2020, Shenzhen Qianhai Huanjing Network Technology Co., Ltd. ("Qianhai Huanjing"), the licensor, had expressly and unilaterally terminated a series of intellectual property licensing agreements entered into with the Group, which these agreements had an original expiry date of 30 June 2023. As a result, the Group was not able to use the related intellectual properties and recorded a full provision of impairment charge amounted to USD1,179,747 which respect to the carrying value of the unamortised upfront license fee during the same period.
• (b) 在減值開支總額中,於截至二零二零年 十二月三十一日止年度,授權人深圳市 前海幻境網絡科技有限公司(「前海幻 境」)明確和單方面終止與本集團訂立 的一連串知識產權授權協議,而該等協 議的原先屆滿日期為二零二三年六月三 十日。因此,本集團未能使用相關知識 產權,並於同期間就未攤銷前期特許權 費用的賬面值錄得全數減值開支撥備 1,179,747美元。

合併財務報表附註(續)

9 FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME

Classification of financial assets at FVOCI

Financial assets at FVOCI comprise:

Equity securities which are not held for trading, and which the Group has irrevocably elected at initial recognition to recognise in this category. These are strategic investments and the Group considers this classification to be more relevant.

During the year ended December 31, 2020 and 2019, the Group did not have any investment in debt securities.

Equity investments at FVOCI

Equity investments at FVOCI comprise the following:

9 按公允價值計量且其變動計入 其他全面收益的金融資產

按公允價值計量且其變動計入其 他全面收益的金融資產之分類

按公允價值計量且其變動計入其他全面收益的 金融資產包括:

並非持作買賣且本集團已於初始確認時不可撤 回地選擇在此類別內確認的股本證券。此等證 券乃策略性投資,而本集團認為此類別更為適 切。

於截至二零二零年十二月三十一日止年度,本 集團並無任何債務證券投資。

按公允價值計量且其變動計入其 他全面收益的股本投資

按公允價值計量且其變動計入其他全面收益的 股本投資包括以下投資:

As at December 31,

		於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Non-current assets	非流動資產
Listed securities	上市證券
FingerTango Inc. (Note (a))	指尖悅動控股有限公司(附註(a))	1,164,245	963,185

合併財務報表附註(續)

9 FINANCIAL ASSETS AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME (Continued)

Equity investments at FVOCI (Continued)

(a) The Group acquired approximately 0.6% of common stocks of FingerTango Inc., a company listed in Hong Kong which is principally engaged in the development, operation and publishing mobile game business in the PRC.

The following table presents the changes in financial assets at FVOCI:

9 按公允價值計量且其變動計入 其他全面收益的金融資產(續)

按公允價值計量且其變動計入其 他全面收益的股本投資(續)

(a) 本集團已收購指尖悅動控股有限公司約 0.6%的普通股。該公司在香港上市,主 要在中國從事開發、營運及發行手機遊 戲業務。

下表呈列按公允價值計量且其變動計入 其他全面收益的金融資產之變動:

		As at December 31,
			於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
As at January 1	於一月一日	963,185	2,670,518
Gain/(loss) recognised in other	於其他全面收益確認的收益╱(虧損)
comprehensive income		201,060	(1,707,333)
As at December 31	於十二月三十一日	1,164,245	963,185

合併財務報表附註(續)

10 FINANCIAL INSTRUMENTS BY CATEGORIES 10 按類別劃分的金融工具

			As at December 31,
			於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Financial assets	金融資產
Financial assets at amortised cost	按攤銷成本計量的金融資產
– Trade and other receivables	-貿易及其他應收款項(不包括
(excluding prepayments and deposits)	預付款及按金)	8,811,602	16,157,394
– Cash and cash equivalents	-現金及現金等價物	26,914,401	25,320,274
– Short-term deposits	-短期存款	5,000,000	–
		40,726,003	41,477,668
Financial asset at FVOCI	按公允價值計量且其變動計入
	其他全面收益的金融資產
– Investment in equity securities	-於股本證券的投資	1,164,245	963,185
Financial liabilities	金融負債
Liabilities at amortised cost	按攤銷成本計量的負債
– Trade and other payables and accruals	-貿易及其他應付款項和應計費用
(excluding salary and staff welfare	(不包括應付薪金及員工福利
payables and taxes payable)	及應繳稅項)	5,192,840	4,666,865
Lease liabilities	租賃負債	1,918,747	2,070,995
		7,111,587	6,737,860

合併財務報表附註(續)

11 INVESTMENTS IN SUBSIDIARIES

Particulars of the subsidiaries of the Group as at December 31, 2020 and 2019 are set out below:

11 於附屬公司的投資

本集團於二零二零年及二零一九年十二月三十 一日的附屬公司詳情如下:

Company Name	Place and date of incorporation/ establishment	Kind of legal entity	Issued and paid-in capital/ registered capital	Equity interest held as at December 31, 2020 and 2019 於二零二零年 及二零一九年	Principal activities and place of operation
公司名稱	註冊成立╱ 成立地點及日期	法律實體種類	已發行及實繳 資本╱註冊資本	十二月三十一日 持有的股權	主要業務及經營地點
Directly owned 直接擁有
Digital Hollywood International Limited ("Hollywood BVI")	BVI/November 25, 2014	Limited Liability Company	USD100	100%	Investment holding/BVI
Digital Hollywood International Limited(「Hollywood BVI」)	英屬處女群島╱ 二零一四年 十一月二十五日	有限責任公司	100美元		投資控股╱英屬處女群島
Proficient City Limited ("PCL")	BVI/January 25, 2011	Limited Liability Company	USD50,000	100%	Operation of web-based and mobile games/Global markets, mainly in North American market
Proficient City Limited(「PCL」)	英屬處女群島╱ 二零一一年 一月二十五日	有限責任公司	50,000美元		營運網頁及手機遊戲╱全球市場,主要 在北美市場
Proficient City Hong Kong Limited ("PCL HK")	Hong Kong/December 17, 2018	Limited Liability Company	HKD10,000	100%	Investment holding/Hong Kong
Proficient City Hong Kong Limited(「PCL HK」)	香港╱ 二零一八年 十二月十七日	有限責任公司	10,000港元		投資控股╱香港
Angame Inc. ("Angame")	BVI/July 5, 2005	Limited Liability Company	USD100	100%	Operation of mobile games/mainly in Malaysia
Angame Inc.(「Angame」)	英屬處女群島╱ 二零零五年七月五日	有限責任公司	100美元		營運手機遊戲╱主要在馬來西亞

合併財務報表附註(續)

11 INVESTMENTS IN SUBSIDIARIES (Continued) 11 於附屬公司的投資(續)

Company Name	Place and date of incorporation/ establishment	Kind of legal entity	Issued and paid-in capital/ registered capital	Equity interest held as at December 31, 2020 and 2019 於二零二零年 及二零一九年	Principal activities and place of operation
公司名稱	註冊成立╱ 成立地點及日期	法律實體種類	已發行及實繳 資本╱註冊資本	十二月三十一日 持有的股權	主要業務及經營地點
Indirectly owned
間接擁有
Game Hollywood Hong Kong Limited ("Hollywood HK")	Hong Kong/December 5, 2014	Limited Liability Company	HKD1	100%	Operation of online games/mainly in Hong Kong, Taiwan and Vietnam
Game Hollywood Hong Kong Limited(「Hollywood HK」)	香港╱二零一四年十 二月五日	有限責任公司	1港元		營運網絡遊戲╱主要在香港、台灣及越 南
Now To Play Game Limited ("Now To Play Game")	Hong Kong/March 29, 2011	Limited Liability Company	HKD10,000	100%	Operation of web-based game overseas/ mainly in North American market
Now to Play Game Limited (「Now To Play Game」)	香港╱二零一一年 三月二十九日	有限責任公司	10,000港元		營運網頁遊戲╱海外,主要在北美市場
廣州遊萊信息科技有限公司 (Guangzhou You Lai Information Technology Company Limited, "Guangzhou You Lai")	The PRC/May 13, 2015	Limited Liability Company	USD2,000,000	100%	Technical support services/the PRC
廣州遊萊信息科技有限公司 (「廣州遊萊」)	中國╱二零一五年 五月十三日	有限責任公司	2,000,000美元		技術支援服務╱中國
北京遊堂信息科技有限公司 (Beijing You Tang Information Technology Company Limited, "Beijing You Tang")	The PRC/July 17, 2015	Limited Liability Company	RMB2,000,000	100%	Investment holding/the PRC
北京遊堂信息科技有限公司 (「北京遊堂」)	中國╱二零一五年 七月十七日	有限責任公司	人民幣2,000,000元		投資控股╱中國
廣州掌贏控信息科技有限公司 (Guangzhou Zhang Ying Kong Information Technology Company Limited, "Zhang Ying Kong")	The PRC/March 6, 2013	Limited Liability Company	RMB1,000,000	100%	Development of mobile games/the PRC
廣州掌贏控信息科技有限公司 (「掌贏控」)	中國╱二零一三年 三月六日	有限責任公司	人民幣1,000,000元		開發手機遊戲╱中國

合併財務報表附註(續)

11 INVESTMENTS IN SUBSIDIARIES (Continued)

11 於附屬公司的投資(續)

Company Name	Place and date of incorporation/ establishment	Kind of legal entity	Issued and paid-in capital/ registered capital	Equity interest held as at December 31, 2020 and 2019 於二零二零年 及二零一九年	Principal activities and place of operation
公司名稱	註冊成立╱ 成立地點及日期	法律實體種類	已發行及實繳 資本╱註冊資本	十二月三十一日 持有的股權	主要業務及經營地點
廣州歲月年代軟件科技有限公司 (Guangzhou Suiyue Niandai Software Technology Company Limited, "Guangzhou SYND")	The PRC/June 12, 2010	Limited Liability Company	RMB1,270,000	100%	Marketing and technical support service/the PRC
廣州歲月年代軟件科技有限公司 (「廣州歲月年代」)	中國╱二零一零年 六月十二日	有限責任公司	人民幣1,270,000元		市場營銷及技術支援服務╱中國
北京遊萊信息科技有限公司 (Beijing You Lai Information Technology Company Limited, "Beijing You Lai")	The PRC/November 14, 2014	Limited Liability Company	RMB1,000,000	100%	Investment holding/the PRC
北京遊萊信息科技有限公司 (「北京遊萊」)	中國╱二零一四年 十一月十四日	有限責任公司	人民幣1,000,000元		投資控股╱中國

Notes: The Company has set up a structured entity, Epic City Limited("Share Scheme Trust"), solely for the purpose of administering and holding the Company's shares for the Share Option Scheme (Note 17), the Company has the power to direct the relevant activities of Share Scheme Trust and it has the ability to use its power over Share Scheme Trust to affect its exposure to returns. Therefore, the assets and liabilities of Share Scheme Trust are included in the Group's balance sheet and the shares it held are presented as a deduction in equity as shares held for the Share Option Scheme.

附註:本公司已設立一家結構性實體 E p i c C i t y Limited(「股份計劃信託」),僅用作管理及 持有本公司就購股權計劃持有的股份(附註 17),本公司有權指示股份計劃信託的相關活 動,並有能力對股份計劃信託運用權力以影響 其風險回報。因此,股份計劃信託的資產及負 債載列於本集團資產負債表,而其所持有的股 份乃以就購股權計劃持有的股份呈列為權益減 少。

合併財務報表附註(續)

12 INVESTMENT IN AN ASSOCIATE

12 於聯營公司的投資

The amounts recognised in the consolidated balance sheet are as follows:

於合併資產負債表內確認的金額如下:

					As at December 31, 於十二月三十一日
					2020	2019
					二零二零年	二零一九年
					USD 美元	USD 美元
	Associate	聯營公司			–	–
	Set out below are the details of the associate of the Group. The associate as listed below has share capital consisting solely of registered capital, which is held directly by the Group.			由本集團直接持有。		以下載列本集團聯營公司的資料。下文所列聯 營公司的股本僅包括註冊股本,有關註冊股本
2019:	Details of investment in an associate as at December 31, 2020 and				一家聯營公司的投資的詳情。	於二零二零年及二零一九年十二月三十一日於
	Name of entity 實體名稱	Place of business/ country of incorporation 營業地點╱註冊成立國家	所有權權益百分比(%)	% of ownership interest	Nature of the relationship 關係性質	Measurement method 計量方法
	上海集鷹科技有限公司 (Shanghai Jiying Technology Company Limited, "Shanghai Jiying") (i)	The PRC		20	(ii) and (iii)	Equity
	上海集鷹科技有限公司(「上海集鷹」)(i)	中國		20	(ii)及(iii)	權益
(i)	Shanghai Jiying is principally engaged in the production and operation of virtual reality recreational machines.		(i)	產及營運。		上海集鷹主要從事虛擬現實遊戲機的生
(ii)	The Group has designated a member in the Board of Directors which enables the Group to exercise significant influence in Shanghai Jiying through the participation in operational, investing and financing actions. Consequently, Shanghai Jiying has been accounted for as an associate.		(ii)		海集鷹已列作一家聯營公司入賬。	本集團已於董事會指派一名成員,使本 集團可透過參與營運、投資及融資行動 於上海集鷹行使重大影響力。因此,上
	Shanghai Jiying is a private company engaged in the game operation and there is no quoted market price available for its equity.				司,其股票並無市場報價。	上海集鷹為一家從事遊戲營運的私營公
	(iii) There were no contingent liabilities relating to the Group's interest in the associate.			然負債。		(iii) 概無涉及本集團於聯營公司的權益的或

合併財務報表附註(續)

12 INVESTMENT IN AN ASSOCIATE (Continued)

12 於聯營公司的投資(續)

Movement of investment in associate is analysed as follows:

於聯營公司的投資的變動分析如下:

		Shanghai Jiying
		上海集鷹
		Year ended	Year ended
		December 31,	December 31,
		2020	2019
		截至二零二零年	截至二零一九年
		十二月三十一日	十二月三十一日
		止年度	止年度
		USD	USD
		美元	美元
At beginning of the year	年初	–	640,233
Impairment charge (Note (a))	減值開支(附註(a))	–	(652,596)
Currency translation differences	貨幣換算差額	–	12,363
Carrying value	賬面值	–	–

performance of Shanghai Jiying and considered the related investment to be irrecoverable and therefore, the entire amount of the investment in associate was fully provided for.

(a) 於截至二零一九年十二月三十一日止年度,本 集團評估上海集鷹的表現,並認為有關投資將 不可收回,因此於聯營公司的全部投資金額已 全數作減值撥備。

合併財務報表附註(續)

13 DEFERRED INCOME TAX

13 遞延所得稅

The analysis of deferred income tax assets and liabilities is as follows:

遞延所得稅資產及負債的分析如下:

		As at December 31, 於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Deferred income tax assets:	遞延所得稅資產:
– to be recovered within 12 months	-將於12個月內收回	–	11,779
Deferred income tax liabilities:	遞延所得稅負債:
– to be recovered after more than 12 months	-將於超過12個月後收回	–	–
– to be recovered within 12 months	-將於12個月內收回	–	(5,757)
		–	(5,757)
Deferred tax assets – net	遞延稅項資產淨額	–	6,022

合併財務報表附註(續)

13 DEFERRED INCOME TAX (Continued)

Movement in deferred income tax assets without taking into consideration the offsetting of balances within the same tax jurisdiction is as follows:

13 遞延所得稅(續)

遞延所得稅資產的變動(不計及同一稅務司法 權區內的結餘抵銷)如下:

		Contract
		liabilities	Provisions	Total
		合約負債	撥備	總計
		USD	USD	USD
		美元	美元	美元
Year ended December 31, 2020	截至二零二零年
	十二月三十一日止年度
At beginning of the year	於年初	11,779	–	11,779
Charged to the income statement	扣除自收益表	(11,902)	–	(11,902)
Currency translation differences	貨幣換算差額	123	–	123
At end of the year	於年末	–	–	–
Year ended December 31, 2019	截至二零一九年
	十二月三十一日止年度
At beginning of the year	於年初	73,357	100,518	173,875
Charged to the income statement	扣除自收益表	(61,108)	(100,797)	(161,905)
Currency translation differences	貨幣換算差額	(470)	279	(191)
At end of the year	於年末	11,779	–	11,779

遊萊互動集團有限公司 二零二零年年報 187

合併財務報表附註(續)

13 DEFERRED INCOME TAX (Continued)

Movement in deferred income tax liabilities without taking into consideration the offsetting of balances within the same tax jurisdiction is as follows:

13 遞延所得稅(續)

遞延所得稅負債的變動(不計及同一稅務司法 權區內的結餘抵銷)如下:

		Contract costs 合約成本 USD 美元	Changes in fair value of financial assets at FVOCI 按公允價值 計量且其變動 計入其他全面 收益的金融 資產之公允 價值變動 USD 美元	Total 總計 USD 美元
Year ended December 31, 2020 At beginning of the year	截至二零二零年 十二月三十一日止年度 於年初	(5,757)	–	(5,757)
Credited to other comprehensive income	計入其他全面收益
Credited to the income statement	計入收益表	5,817	–	5,817
Currency translation differences	貨幣換算差額	(60)	–	(60)
At end of the year	於年末	–	–	–
Year ended December 31, 2019	截至二零一九年 十二月三十一日止年度
At beginning of the year	於年初	(34,682)	(21,339)	(56,021)
Credited to other comprehensive	計入其他全面收益
income Credited to the income statement	計入收益表	– 28,867	21,339 –	21,339 28,867
Currency translation differences	貨幣換算差額	58	–	58
At end of the year	於年末	(5,757)	–	(5,757)

合併財務報表附註(續)

13 DEFERRED INCOME TAX (Continued)

Deferred income tax liabilities of USD586,000 (2019: USD590,000) as at December 31, 2020 have not been recognised for the withholding tax and other taxes that would be payable on the unremitted earnings of certain subsidiaries established in the PRC. Such amounts are permanently reinvested. Unremitted earnings totalled USD11,726,000 (2019: USD11,794,000) as at December 31, 2020.

As of December 31, 2020, the Group did not recognise deferred income tax assets of USD998,000 (2019: USD624,000), in respect of deductible temporary differences and cumulative tax losses amounting to USD6,989,000 (2019: USD4,563,000) in total, as it is uncertain that future taxable income will be available in those subsidiaries against which the tax losses can be utilised. Of the tax losses amounting to USD2,880,000, tax losses amounting to USD16,000, USD6,000, USD393,000 and USD709,000 will expire in 2022, 2023, 2024 and 2025, respectively. The remaining tax losses amounting to USD1,756,000 have no expiry date.

14 TRADE RECEIVABLES

13 遞延所得稅(續)

於二零二零年十二月三十一日,並無就若干在 中國成立的附屬公司的未匯出盈利應付的預扣 稅及其他稅項確認遞延所得稅負債586,000美 元(二零一九年:590,000美元)。有關金額已 用作永久再投資。於二零二零年十二月三十一 日的未匯出盈利合共為11,726,000美元(二零 一九年:11,794,000美元)。

於二零二零年十二月三十一日,本集團並無就 可扣減暫時差異及合共6,989,000美元(二零 一九年:4,563,000美元)的累積稅務虧損確 認遞延稅項資產998,000美元(二零一九年: 624,000美元),因為並不肯定該等附屬公司 有未來應課稅溢利來使用稅務虧損予以抵銷。 在金額為2,880,000美元的稅務虧損中,稅務 虧損16,000美元、6,000美元、393,000美元 及709,000美元將分別於二零二二年、二零二 三年、二零二四年及二零二五年到期。餘下稅 務虧損1,756,000美元並無到期日。

14 貿易應收款項

As at December 31, 於十二月三十一日 2020 2019 二零二零年 二零一九年 USD USD 美元 美元 Trade receivables (Note (a)) 貿易應收款項(附註(a)) 4,812,624 5,181,194 Less: allowance for impairment of trade receivables (Note (b)) 減:貿易應收款項減值撥備(附註(b)) (3,530,020) (2,946,572) 1,282,604 2,234,622

合併財務報表附註(續)

14 TRADE RECEIVABLES (Continued)

(a) Trade receivables are arising from the development and operation of online game business. The credit terms of trade receivables granted to the Platforms and third party payment vendors are usually zero to 120 days and zero to 30 days, respectively. Aging analysis based on invoice date of the gross trade receivables at the respective balance sheet dates is as follows:

14 貿易應收款項(續)

(a) 貿易應收款項來自網絡遊戲業務的開發 及營運。授予平台及第三方付款服務供 應商的貿易應收款項信貸期通常分別為 零至120日及零至30日。於各有關結算 日基於貿易應收款項總額發票日期的賬 齡分析如下:

			As at December 31, 於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
0-30 days	0至30日	497,510	866,395
31-90 days	31至90日	397,996	1,026,677
91-180 days	91至180日	631,658	451,415
Over 180 days	超過180日	3,285,460	2,836,707
		4,812,624	5,181,194

(b) As at December 31, 2020, trade receivables of USD3,530,020 (2019: USD2,946,572) were impaired. Movements on the Group's provision for impairment of trade receivables are as follows:

(b) 於二零二零年十二月三十一日,貿易應 收款項3,530,020美元(二零一九年: 2,946,572美元)已減值。本集團就貿易 應收款項減值所作撥備之變動如下:

		As at December 31,
		於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
At beginning of the year	於年初	2,946,572	1,635,576
Provision for trade receivables	貿易應收款項撥備	513,351	1,384,675
Receivables written off during the	作為不可收回而於年內撇銷的
year as uncollectible	應收款項	(20,567)	(73,679)
Currency translation differences	貨幣換算差額	90,664	–
At end of the year	於年末	3,530,020	2,946,572

合併財務報表附註(續)

14 TRADE RECEIVABLES (Continued)

(b) (Continued)

The provision for impaired receivables has been included in "Net impairment losses on financial assets" in the consolidated statement of comprehensive income.

Information about the impairment of trade receivables and the Group's exposure to credit risk, foreign currency risk and interest rate risk can be found in Note 3.1.

(c) The carrying amounts of the Group's trade receivables are denominated in the following currencies:

14 貿易應收款項(續)

(b) (續)

已減值的應收款項的撥備已計入合併全 面收益表的「金融資產減值虧損淨額」項 內。

有關貿易應收款項減值及本集團所面對 的信貸風險、外幣風險及利率風險的資 料,可參閱附註3.1。

(c) 本集團的貿易應收款項的賬面值乃以下 列貨幣計值:

			As at December 31, 於十二月三十一日
			2020	2019
			二零二零年	二零一九年
			USD	USD
			美元	美元
USD	美元		3,040,456	3,566,235
RMB	人民幣		1,730,854	1,575,905
HKD	港元		41,314	39,054
			4,812,624	5,181,194
	As at December 31, 2020 and 2019, the fair value of trade receivables approximated their carrying amounts.	(d)	於二零二零年及二零一九年十二月三十 一日,貿易應收款項的公允價值與其賬 面值相若。

The maximum exposure to credit risk at the reporting date is the carrying value of each class of receivable mentioned above. The Group does not hold any collateral as security.

本集團於報告日期承受的最大信貸風險 為上述各類別應收款項的賬面值。本集 團並無持有任何抵押品作為抵押。

合併財務報表附註(續)

15 PREPAYMENTS AND OTHER RECEIVABLES 15 預付款及其他應收款項

		As at December 31,
		於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Included in non-current assets	計入非流動資產
Prepayment for equity investments (Note (a))	股本投資預付款(附註(a))	3,550,000	3,550,000
Prepayment for game development	遊戲開發預付款	98,540	268,518
Prepayment for license fees (Note (c))	特許權費用預付款(附註(c))	–	700
Deposits	按金	65,851	62,355
		3,714,391	3,881,573
Included in current assets	計入流動資產
Receivables relating to payment channels	有關付款渠道的應收款項(附註(b))
(Note (b))		7,427,108	13,825,857
Prepaid royalty fees (Note (c))	預付版權費(附註(c))	6,185,258	6,343,579
Prepaid advertising charges	預付廣告費用	51,934	107,466
Prepaid server rental expenses	預付伺服器租賃開支	14,590	95,188
Deposits (to be recovered within 12 months)	按金(將於12個月內收回)	2,911	2,642
Others	其他	101,890	96,915
		13,783,691	20,471,647
		17,498,082	24,353,220

合併財務報表附註(續)

15 PREPAYMENTS AND OTHER RECEIVABLES

(Continued)

(a) Two prepayments for equity investments: Prepayment of USD50,000 was for the right to equity purchase of certain shares of a company engaged in game operation.

On April 20, 2018, Hollywood BVI made a prepayment to purchase the shares to be issued by Nouveau Capital Partners Corp. ("Nouveau"), which was established with limited liability in accordance with the laws of BVI, and it is principally engaged in investment holding, at a total consideration of USD3,500,000. As at the date of this report, to the best of the Directors' knowledge, Nouveau held approximately 16.27% of the issued share capital in Bright Idea Life Company Limited (頑石生活股份有限公司, "Bright Idea Life"). Bright Idea Life is a company established with limited liability in accordance with the laws of Taiwan district, which is principally engaged in the provision of cultural and art promotion services via multimedia, animation, games and virtual reality technologies. The right to purchase of the shares will be effective when the Investment Commission in Taiwan approves this transaction. Pursuant to the arrangements, Hollywood BVI has the right to require Nouveau to refund all the initial aggregate principal amount of USD3,500,000 in the condition that the conversion cannot be executed due to relevant approval cannot be obtained from Investment Commission in Taiwan.

• (b) Receivables relating to payment channels mainly represent the balances in PayPal and Skrill (formerly Moneybookers), for cash collection from game players for games operated on the Group's websites.
• (c) As at December 31, 2020, prepaid royalty fees mainly represent the prepayments of approximately USD6,185,000 to certain game developers. During the year ended December 31, 2020, impairment totalling USD91,699 (2019:USD1,381,954) was made for certain prepaid royalty fees and license fees as the corresponding games were taken offline during the year ended December 31, 2020 (Note(23)).

15 預付款及其他應收款項(續)

(a) 兩項股本投資的預付款: 就收購一家從事遊戲營運的公司若干股 份的股權購買權的預付款50,000美元。

於二零一八年四月二十日,Hollywood BVI就購買由Nouveau Capital Partners Corp.(「Nouveau」,一家根據英屬處 女群島法律成立主要從事投資控股的 有限公司)發行的股份作出預付款,總 代價為3,500,000美元。截至本報告日 期,就董事所知,Nouveau持有頑石生 活股份有限公司(「頑石生活」)已發行 股本約16.27%。頑石生活為一家根據 台灣區法律成立的有限公司,主要從事 透過多媒體、動畫、遊戲及虛擬現實技 術提供文化及藝術推廣服務。當台灣投 資委員會批准此項交易後,購買股份的 權利將告生效。根據有關安排,如果未 有向台灣投資委員會取得有關批准而令 轉換無法執行,則Hollywood BVI有權 要求Nouveau退回所有最初本金總額 3,500,000美元。

• (b) 有關付款渠道的應收款項主要指於 PayPal及Skrill(前稱Moneybookers)內 的結餘,乃就於本集團網站營運的遊戲 而向遊戲玩家收取的現金。
• (c) 於二零二零年十二月三十一日,預付版 權費主要指向若干遊戲開發商預付的款 項約6,185,000美元。於截至二零二零 年十二月三十一日止年度,已就若干預 付版權費及特許權費用作出合共91,699 美元(二零一九年:1,381,954美元)的 減值,原因是有關遊戲已於截至二零二 零年十二月三十一日止年度下線。

合併財務報表附註(續)

16 CASH AND CASH EQUIVALENTS AND SHORT-TERM DEPOSITS 16 現金及現金等價物及短期存款

				As at December 31,
				於十二月三十一日
				2020	2019
				二零二零年	二零一九年
				USD	USD
				美元	美元
	Cash at banks	銀行現金		26,914,401	25,320,274
	Short-term deposits (Note (a))	短期存款(附註(a))		5,000,000	–
				31,914,401	25,320,274
(a)	The effective interest rate for the short-term deposits with		(a)	於二零二零年十二月三十一日原到期日
	original maturity dates over three months as at 31 December			超過三個月的短期存款的實際利率為
	2020 was 0.45% (2019:Nil).			0.45%(二零一九年:無)。
	Cash and cash equivalents and short-term deposits are			現金及現金等價物以及短期存款乃以下
	denominated in the following currencies:			列貨幣計值:
				As at December 31,
				於十二月三十一日
				2020	2019
				二零二零年	二零一九年
				USD	USD
				美元	美元
	USD	美元		9,005,958	2,720,068
	RMB	人民幣		1,032,341	1,402,565
	HKD	港元		18,697,015	18,963,565
	EUR	歐元		3,179,087	2,234,076
				31,914,401	25,320,274

The conversion of USD denominated balances into foreign currencies and the remittance of such foreign currencies denominated bank balances and cash out of the PRC amounted to USD7,189,017 (2019:USD1,363,158) are subject to relevant rules and regulations of foreign exchange control promulgated by the PRC government.

以美元計值的結餘換算為外幣及將該等 以外幣計值的為數7,189,017美元(二零 一九年:1,363,158美元)的銀行結餘及 現金匯出中國,須遵守中國政府頒佈的 相關外匯管制規則及規例。

合併財務報表附註(續)

17 SHARE CAPITAL AND SHARES HELD FOR THE SHARE OPTION SCHEME

The total authorised share capital of the Company comprises 4,000,000,000 ordinary shares (2019: 4,000,000,000 ordinary shares) with par value of USD0.001 per share (2019: USD0.001 per share).

As at December 31, 2020, the total number of issued ordinary shares of the Company was 2,000,000,000 shares (2019: 2,000,000,000 shares) which included 144,224,041 shares (2019: 147,560,007 shares) held under the share incentive scheme. They have been fully paid up.

A summary of movements in the Company's share capital and shares held for the Share Option Scheme are as follows:

17 股本及就購股權計劃持有的股 份

本公司的總法定股本包括4,000,000,000股 普通股(二零一九年:4,000,000,000股普通 股),而每股面值為0.001美元(二零一九年: 每股0.001美元)。

於二零二零年十二月三十一日,本公司已發 行普通股總數為2,000,000,000股(二零一九 年:2,000,000,000股),包括就股份激勵計 劃持有的144,224,041股股份(二零一九年: 147,560,007股)。該等股份已繳足股款。

本公司股本及就購股權計劃持有的股份之變動 概要如下:

				Shares held
		Number of		for the Share
		shares in issue	Share capital	Option Scheme
				就購股權計劃
		已發行股份數目	股本	持有的股份
			USD	USD
			美元	美元
				(Note (a))
				(附註(a))
At December 31, 2020	於二零二零年十二月三十一日	2,000,000,000	2,000,000	(144,224)
At December 31, 2019	於二零一九年十二月三十一日	2,000,000,000	2,000,000	(147,560)

合併財務報表附註(續)

17 SHARE CAPITAL AND SHARES HELD FOR THE SHARE OPTION SCHEME

(Continued)

(a) According to the written resolutions of all the members of the Company dated November 2, 2015 and capitalisation issue dated November 24, 2017, an aggregate of 150,000,000 ordinary shares were authorised and reserved for the issuance to the employees, directors of the Group and other persons pursuant to the share incentive scheme (the "Share Option Scheme") adopted by the Company.

The Company has appointed Core Trust Company Limited as the trustee to assist with the administration and vesting of options granted pursuant to the Share Option Scheme. On May 27, 2017, the Company allotted and issued shares to Share Scheme Trust, a wholly-owned subsidiary of Core Trust Company Limited, which are or will be used to satisfy the options upon exercise. The shares held by Share Scheme Trust are presented as a deduction in equity as shares held for the Share Option Scheme.

During the year ended December 31, 2020, the Share Scheme Trust transferred 3,335,966 ordinary shares of the Company (December 31, 2019: the Share Scheme Trust transferred 2,439,966 ordinary shares of the Company) to the grantees exercising of the awarded shares (Note 19).

17 股本及就購股權計劃持有的股 份(續)

(a) 根據日期為二零一五年十一月二日本公 司全體股東的書面決議案及日期為二零 一七年十一月二十四日的資本化發行, 合共150,000,000股普通股已獲授權及 保留以根據本公司採納的股份獎勵計劃 (「購股權計劃」)發行予本集團的僱員、 董事及其他人士。

本公司已委任Core Trust Company Limited作為受託人以協助管理及歸屬根 據購股權計劃授出的購股權。於二零一 七年五月二十七日,本公司已向股份計 劃信託(Core Trust Company Limited 的全資附屬公司)配發及發行股份,用 以或將用以滿足購股權獲行使時的需 要。股份計劃信託持有的股份以就購股 權計劃持有的股份呈列為權益減少。

於截至二零二零年十二月三十一日止年 度,股份計劃信託已向行使獲獎勵股份 的承授人轉讓3,335,966股本公司普通 股(二零一九年十二月三十一日:股份 計劃信託已轉讓2,439,966股本公司普 通股)(附註19)。

合併財務報表附註(續)

18 RESERVES

				18 儲備
		Share premium	Share-based payment reserves	Statutory reserves	Currency translation difference	Other reserves	Total
		股份溢價	以股份為基礎 的付款儲備	法定儲備	貨幣換算差額	其他儲備	總計
		USD	USD	USD	USD	USD	USD
		美元	美元	美元	美元	美元	美元
Balance at January 1, 2020	於二零二零年一月一日
	的結餘	35,893,900	4,538,203	945,312	(934,257)	(2,338,754)	38,104,404
The Share Option Scheme	購股權計劃	–	–	–	–	–	–
– Exercise of share options	-行使購股權	401,651	(389,583)	–	–	–	12,068
– Value of employee services	-僱員服務價值	–	652,680	–	–	–	652,680
Net loss from changes in fair value of	按公允價值計量且其變動
financial assets at fair value through	計入其他全面收益的金融 資產的公允價值變動
other comprehensive income	虧損淨額
Currency translation differences	貨幣換算差額	– –	– –	– –	– 599,596	201,060 –	201,060 599,596
Balance at December 31, 2020	於二零二零年
	十二月三十一日的結餘	36,295,551	4,801,300	945,312	(334,661)	(2,137,694)	39,569,808
Balance at January 1, 2019	於二零一九年一月一日
	的結餘	35,603,166	3,245,184	945,312	(858,426)	(652,760)	38,282,476
The Share Option Scheme	購股權計劃
– Exercise of share options	-行使購股權	290,734	(284,415)	–	–	–	6,319
– Value of employee services	-僱員服務價值	–	1,577,434	–	–	–	1,577,434
Net loss from changes in fair value of	按公允價值計量且其變動
financial assets at fair value through	計入其他全面收益的金融 資產的公允價值變動
other comprehensive income	虧損淨額
Currency translation differences	貨幣換算差額	– –	– –	– –	– (75,831)	(1,685,994) –	(1,685,994) (75,831)
Balance at December 31, 2019	於二零一九年
	十二月三十一日的結餘	35,893,900	4,538,203	945,312	(934,257)	(2,338,754)	38,104,404

遊萊互動集團有限公司 二零二零年年報 197

合併財務報表附註(續)

18 RESERVES (Continued)

(a) In accordance with the relevant laws and regulations in the PRC and the Articles of Association of subsidiaries located in the PRC, it is required to appropriate 10% of the annual statutory net profits after offsetting any prior years' losses as determined under the PRC accounting standards, to the statutory surplus reserve fund before distributing the net profit. When the balance of the statutory surplus reserve fund reaches 50% of the share capital, any further appropriation is at the discretion of shareholders. The statutory surplus reserve fund can be used to offset prior years' losses, if any, and may be converted into share capital by issuing new shares to shareholders in proportion to their existing shareholding or by increasing the par value of the shares currently held by them, provided that the remaining balance of the statutory surplus reserve fund after such issue is no less than 25% of share capital.

19 SHARE-BASED PAYMENTS

On February 15, 2018, 21,419,696 and 28,078,914 shares options were granted under the Share Option Scheme, with exercise price of HKD0.0074 and USD0.0074 per share, respectively. The vesting period of the share options granted is three years and the vesting schedule is 33.33% after twelve months from the grant date, 33.33% after 24 months from the grant date, and 33.34% after 36 months from the grant date respectively.

The directors have used the Binomial option-pricing model to determine the fair value of the share options as at the grant date. Key assumptions, such as risk-free interest rate, expected volatility and dividend yield, are required to be determined by the directors with best estimates. The risk-free interest rate, expected volatility and dividend yield were assessed to be 2.65%, 54.58% and 0%, respectively.

18 儲備(續)

(a) 根據中國的相關法律法規及位於中國內 地的附屬公司的組織章程細則,於分派 淨溢利前,須於抵銷按照中國會計準則 釐定的任何過往年度虧損後,將年度法 定淨溢利的10%撥至法定盈餘公積金。 當法定盈餘公積金結餘達到股本的50% 時,是否作出進一步轉撥由股東酌情決 定。法定盈餘公積金可用於抵銷過往年 度的虧損(如有),亦可透過按照現有持 股比例向股東發行新股份或增加彼等目 前持有的股份面值而轉換為股本,惟該 項發行後法定盈餘公積金的結餘不得低 於股本的25%。

19 以股份為基礎付款

於二零一八年二月十五日,21,419,696份及 28,078,914份購股權分別根據購股權計劃授 出,行使價分別為每股0.0074港元及0.0074 美元。所授出購股權的歸屬期為三年,而 歸屬時間為於授出日期起十二個月後歸屬 33.33%,於授出日期起二十四個月後歸屬 33.33%,及於授出日期起三十六個月後歸屬 33.34%。

董事已使用二項式期權定價模式來釐定購股權 於授出日期的公允價值。董事須以最佳估算來 釐定無風險利率、預期波幅及收益率等主要假 設。無風險利率、預期波幅及收益率分別評估 為2.65%、54.58%及0%。

合併財務報表附註(續)

19 SHARE-BASED PAYMENTS (Continued)

Movements of the number of share options outstanding and their related weighted average exercise prices are as follows:

19 以股份為基礎付款(續)

尚未行使購股權的數目變動及該等購股權的相 關加權平均行使價如下:

	2020		2019
	二零二零年		二零一九年
	Average	Number of	Average	Number of
	exercise price	shares under	exercise price	shares under
	per share option	the option	per share option	the option
	每份購股權平均行使價	購股權項下股份數目	每份購股權平均行使價	購股權項下股份數目
As at January 1	USD0.0047	39,977,019	USD0.0046	42,655,123
於一月一日	0.0047美元		0.0046美元
Exercised	USD0.0046	(3,335,966)	USD0.0036	(2,439,966)
已行使	0.0046美元		0.0036美元
Forfeited	USD0.0074	(212,758)	USD0.0074	(238,138)
已沒收	0.0074美元		0.0074美元
As at December 31	USD0.0047	36,428,295	USD0.0047	39,977,019
於十二月三十一日	0.0047美元		0.0047美元
Vested and exercisable at 31 December	USD0.0047	22,357,406	USD0.0048	11,697,615
於十二月三十一日已歸屬及可行使	0.0047美元		0.0048美元

遊萊互動集團有限公司 二零二零年年報 199

合併財務報表附註(續)

20 TRADE PAYABLES

20 貿易應付款項

		As at December 31,
		於十二月三十一日
			2020	2019
			二零二零年	二零一九年
			USD	USD
			美元	美元
Third parties	第三方		3,866,255	3,095,087
usually 30 to 90 days. follows:	Trade payables primarily related to the revenue sharing collected by payment channels and Platforms which is payable to cooperated game developers according to respective cooperation agreements. The credit terms of trade payables granted by the vendors are The aging analysis of trade payables based on invoice date is as	下:	貿易應付款項主要與付款渠道及平台所收取的 收入分攤金額有關,有關金額為根據有關合作 協議應付予合作遊戲開發商。服務供應商授予 的貿易應付款項信貸期一般為30至90日。 貿易應付款項的賬齡分析(根據發票日期)如
			As at December 31,
			於十二月三十一日
			2020	2019
			二零二零年	二零一九年
			USD 美元	USD 美元
0-90 days	0至90日		573,828	754,509
91-180 days	91至180日		602,035	675,408
181-360 days	181至360日		1,179,648	867,897
Over 360 days	超過360日		1,510,744	797,273
			3,866,255	3,095,087

200 Digital Hollywood Interactive Limited Annual Report 2020

合併財務報表附註(續)

20 TRADE PAYABLES (Continued)

20 貿易應付款項(續)

The carrying amounts of the Group's trade payables are denominated in the following currencies:

本集團的貿易應付款項的賬面值乃以下列貨幣 計值:

			As at December 31, 於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
USD	美元	3,737,235	3,028,167
RMB	人民幣	129,020	66,920
		3,866,255	3,095,087

As at December 31, 2020, the fair value of trade payables approximated their carrying amounts (2019: same).

於二零二零年十二月三十一日,貿易應付款項 的公允價值與其賬面值相若(二零一九年:相 同)。

21 OTHER PAYABLES AND ACCRUALS

21 其他應付款項及應計費用

		As at December 31,
			於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Other taxes payable	其他應繳稅項	194,094	420,665
Salary and staff welfare payables	應付薪金及員工福利	1,200,743	1,065,499
Accrued professional service fees	應計專業服務費	524,651	683,134
Advertising payables	應付廣告費	215,784	284,467
Rent payable	應付租金	178,763	162,583
Others	其他	407,387	441,594
		2,721,422	3,057,942

合併財務報表附註(續)

21 其他應付款項及應計費用(續) 21 OTHER PAYABLES AND ACCRUALS

(Continued)

本集團的其他應付款項及應計費用的賬面值乃 以下列貨幣計值:

The carrying amounts of the Group's other payables and accruals are denominated in the following currencies:

		As at December 31,
		於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
USD	美元	1,092,671	1,519,987
RMB	人民幣	1,619,175	1,530,336
EUR	歐元	9,576	7,619
		2,721,422	3,057,942
approximated their carrying amounts (2019: same).	As at December 31, 2020, the fair value of other payables	於二零二零年十二月三十一日,其他應付款項 的公允價值與其賬面值相若(二零一九年:相

同)。

合併財務報表附註(續)

22 OTHER (LOSSES)/GAINS, NET

22 其他(虧損)╱收益淨額

		Year ended December 31,
		截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Other gains	其他收益
Reversal of contract liabilities (a)	合約負債撥回(a)	352,537	–
Government grant	政府補貼	70,964	134,333
Foreign exchange gains, net	匯兌收益淨額	–	125,890
Others	其他	41,382	47,279
		464,883	307,502
Other losses	其他虧損
Foreign exchange losses, net	匯兌虧損淨額	(497,069)	–
Others	其他	(2,046)	(396)
		(499,115)	(396)
Other (losses)/gains, net	其他(虧損)╱收益淨額	(34,232)	307,106

(a) During the year ended 31 December 2020, one of the games operated by the Group was terminated and therefore, the Group bore no further obligation to the game players of such game.

(a) 於截至二零二零年十二月三十一日止年 度,本集團經營的其中一款遊戲已終 止,因此本集團不再對該款遊戲的玩家 承擔進一步責任。

合併財務報表附註(續)

23 EXPENSES BY NATURE

Expenses included in cost of revenue, selling and marketing expenses, administrative expenses, research and development expenses, net impairment losses on financial assets and impairment of investment in an associate are analysed as follows:

23 按性質劃分的開支

計入成本、銷售及營銷開支、行政開支、研發 開支、金融資產減值虧損淨額以及於聯營公司 的投資之減值的開支分析如下

		Year ended December 31,
		截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Commission charges by Platforms and third	平台及第三方付款服務供應商
party payment vendors	收取的佣金費用	6,116,321	7,020,942
Employee benefits expenses (Note 24)	僱員福利開支(附註24)	4,797,454	6,105,823
Impairment charge	減值開支
– Impairment of trade receivables (Note 14)	-貿易應收款項減值(附註14)	513,351	1,384,675
– Impairment of prepayment for royalty	-版權費及特許權費預付款減值
fees and license fees (Note 15)	(附註15)	91,699	1,381,954
– Impairment of investment in an	-於聯營公司的投資之減值
associate (Note 12)	(附註12)	–	652,596
– Impairment of intangible assets (Note 8)	-無形資產減值(附註8)	1,197,113	128,920
– Impairment of other receivables	-其他應收款項減值	13,878	78,347
Advertising expenses and technical	廣告開支及技術服務費
service fee		4,086,918	2,281,479
Servers rental expenses	伺服器租賃開支	1,334,050	1,479,562
Depreciation and amortisation	折舊及攤銷	1,001,356	1,143,500
Auditors' remuneration	核數師酬金
– Audit services	-審計服務	442,400	532,400
– Non-audit services	-非審計服務	6,300	6,300
Other professional service fees	其他專業服務費	708,251	514,404
Royalty fees	版權費	165,669	362,590
Office charge	辦公室費用	169,196	198,349
Travelling and entertainment expenses	差旅及娛樂開支	64,323	82,161
Office rental expenses	辦公室租賃開支	25,055	33,411
Tax surcharges	附加稅	12,606	16,448
Other expenses	其他開支	319,038	367,687
		21,064,978	23,771,548

合併財務報表附註(續)

24 EMPLOYEE BENEFITS EXPENSES

24 僱員福利開支

		Year ended December 31,
			截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Wages and salaries	工資及薪金	3,744,508	3,735,655
Share-based payments (Note 19)	以股份為基礎付款(附註19)	652,680	1,577,434
Pension costs – defined contribution plans	養老金成本-界定供款計劃
(Note (a))	(附註(a))	55,451	400,476
Other social security costs, housing benefits	其他社會保障成本、住房福利及
and other employee benefits	其他僱員福利	344,815	392,258
		4,797,454	6,105,823

(a) Pension costs – defined contribution plans

Employees of the Group's companies in the PRC are required to participate in the social security, including a defined contribution retirement scheme administered and operated by the local municipal government. The Group contributes funds which are calculated on a fixed percentage of 14% of the employees' salary (subject to a floor and cap) as set by local municipal governments to each scheme locally to fund the retirement benefits of the employees.

According to certain promulgations published by Ministry of Human Resource and Social Security of the PRC on February 20, 2020 and June 22, 2020 respectively, the Group's subsidiaries operating in the PRC were qualified as "Small and medium-sized enterprises" and are entitled to be exempted from contributing to the social security, including the defined contribution retirement scheme, from February 1, 2020 to December 31, 2020.

(a) 養老金成本-界定供款計劃

本集團中國公司的僱員須參與社保基金 計劃,由地方市政府管理及營運的界定 供款退休計劃。本集團的供款乃按地方 市政府就當地各計劃設定為僱員薪金 14%的固定百分比(設有下限及上限金 額)計算,以為僱員的退休福利提供資 金。

根據中國人力資源和社會保障部分別於 二零二零年二月二十日及二零二零年六 月二十二日發佈的若干頒令,本集團在 中國營運的附屬公司符合「中小企業」的 資格,於二零二零年二月一日至二零二 零年十二月三十一日期間獲豁免社保基 金供款,其中包括界定供款退休計劃。

遊萊互動集團有限公司 二零二零年年報 205

合併財務報表附註(續)

24 僱員福利開支(續) 24 E M P L O Y E E B E N E F I T S E X P E N S E S

(Continued)

(b) Five highest paid individuals

The five individuals whose emoluments were the highest in the Group for the year ended December 31, 2020 include nil director (2019:nil). The emoluments payable to the remaining 5 (2019:5) individuals for the year ended December 31, 2020 is as follows:

(b) 五名最高薪酬人士

截至二零二零年十二月三十一日止年 度,本集團的五名最高薪酬人士並不包 括董事(二零一九年:無)。截至二零二 零年十二月三十一日止年度,應付餘下 5名(二零一九年:5名)人士的薪酬如 下:

		Year ended December 31,
		截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Wages and salaries	工資及薪金	220,625	242,031
Pension costs – defined
contribution plans	養老金成本-界定供款計劃	1,247	17,675
Other social security costs, housing	其他社會保障成本、住房福利及
benefits and other employee benefits	其他僱員福利	9,988	18,960
Share-based payments	以股份為基礎付款	444,792	893,944
		676,652	1,172,610

合併財務報表附註(續)

24 僱員福利開支(續) 24 E M P L O Y E E B E N E F I T S E X P E N S E S

(Continued)

(b) Five highest paid individuals (Continued)

The emoluments fell within the following bands:

(b) 五名最高薪酬人士(續)

薪酬介乎以下範圍:

			Number of individuals
		人數
		Year ended December 31, 截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
Emolument band	薪酬範圍
Nil – HK\$1,000,000	零-1,000,000港元	1	1
HK\$1,000,000 – HK\$2,000,000	1,000,000港元-2,000,000港元	4	4
HK\$2,000,000 – HK\$3,000,000	2,000,000港元-3,000,000港元	–	–
HK\$3,000,000 – HK\$4,000,000	3,000,000港元-4,000,000港元	–	–
		5	5

During the year ended December 31, 2020 and 2019, neither directors nor the five highest paid individuals received any emolument from the Group as an inducement to join, upon joining the Group, leave the Group or as compensation for loss of office.

於截至二零二零年及二零一九年十二月 三十一日止年度,概無董事或五名最高 薪酬人士從本集團收取任何薪酬,作為 加入本集團的誘因、乃於加入本集團時 收取、作為離開本集團的誘因或作為離 職補償。

合併財務報表附註(續)

25 FINANCE COSTS, NET

25 財務成本淨額

			Year ended December 31,
			截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Finance income	財務收入
Interest income	利息收入	6,045	21,651
Foreign exchange gains, net	匯兌收益淨額	218,164	35,424
		224,209	57,075
Finance costs	財務成本
Interest expense	利息開支	(114,026)	(114,612)
		(114,026)	(114,612)
Finance costs, net	財務成本淨額	110,183	(57,537)

26 INCOME TAX EXPENSE

26 所得稅開支

The income tax expense of the Group for the years ended December 31, 2020 and 2019 is analysed as follows:

本集團於截至二零二零年及二零一九年十二月 三十一日止年度的所得稅開支分析如下:

		Year ended December 31,
			截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Current income tax	即期所得稅
– Overseas withholding income tax	-海外預扣所得稅	194,180	203,037
– PRC and Hong Kong	-中國及香港	–	(177,259)
Deferred tax (Note 13)	遞延稅項(附註13)	6,085	133,038
		200,265	158,816

合併財務報表附註(續)

26 INCOME TAX EXPENSE (Continued)

(a) Cayman Islands income tax

The Company is incorporated in the Cayman Islands as an exempted company with limited liability under the Companies Law of Cayman Islands and accordingly, is exempted from Cayman Islands income tax.

(b) British Virgin Islands income tax

Pursuant to the rules and regulations of the BVI, the company incorporated in BVI are not subject to any income tax.

(c) Hong Kong profits tax

Hong Kong profits tax has been provided for at the rate of 16.5% on the estimated assessable profits for each of the years ended December 31, 2020 and 2019.

The provision for Hong Kong profits tax for the years ended December 31, 2019 and December 31, 2020 are calculated in accordance with the two-tiered profits tax rates regime. Under the two-tiered profits tax rates regime, the first HKD2 million of profits of qualifying corporation are taxed at 8.25%, and profits above HKD2 million are taxed at 16.5%. The profits of corporation not qualifying the two-tiered profits tax rates regime will continue to be taxed at a flat rate of 16.5%.

(d) The PRC Corporate Income Tax ("CIT")

The income tax provision of the Group in respect of operations in the PRC has been calculated at the tax rate of 25% on the estimated assessable profits for the year ended December 31, 2020 and 2019, based on the existing legislation, interpretations and practices in respect thereof.

26 所得稅開支(續)

(a) 開曼群島所得稅

本公司為根據開曼群島公司法於開曼群 島註冊成立的獲豁免有限公司,因此, 本公司獲豁免繳納開曼群島所得稅。

(b) 英屬處女群島所得稅

根據英屬處女群島的規則及規例,於英 屬處女群島註冊成立的公司毋須繳納任 何所得稅。

(c) 香港利得稅

截至二零二零年及二零一九年十二月三 十一日止年度,已按稅率16.5%對估計 應課稅溢利計提香港利得稅撥備。

截至二零一九年十二月三十一日及二零 二零年十二月三十一日止年度,香港利 得稅撥備乃根據利得稅兩級制計算。 根據利得稅兩級制,合資格法團將按 8.25%的稅率就溢利首2百萬港元繳納稅 項,並將按16.5%的稅率繳納2百萬港元 以上溢利的稅項。不符合利得稅兩級制 資格的法團的溢利將繼續按16.5%的劃 一稅率繳納稅項。

(d) 中國企業所得稅(「企業所得 稅」)

根據有關現有法例、詮釋及慣例,本集 團就其於中國的業務計提的所得稅撥備 乃按稅率25%對截至二零二零年及二零 一九年十二月三十一日止年度的估計應 課稅溢利計算。

合併財務報表附註(續)

26 INCOME TAX EXPENSE (Continued)

(e) Preferential EIT rate

Guangzhou You Lai was qualified as "Advanced Technology Service Enterprises" in 2019 and was entitled to a preferential income tax rate of 15% for the years ended 2020 and 2019.

Zhang Ying Kong was qualified as "Small Low-Profit Enterprise" for the years ended 2020 and 2019 and was entitled to a preferential income tax rate that was calculated in accordance with the two-tiered profits tax rates regime. Under the two-tiered profits tax rates regime, the first RMB1 million of profits of qualifying corporation are taxed 5%, and profits above RMB1 million are taxed at 10%.

(f) The PRC withholding income tax ("WHT")

According to the applicable the PRC tax regulations, dividends distributed by a company established in the PRC to a foreign investor with respect to profits derived after January 1, 2008 are generally subject to a 10% WHT. If a foreign investor incorporated in Hong Kong meets the conditions and requirements under the double taxation treaty arrangement entered into between the PRC and Hong Kong, the relevant withholding tax rate will be reduced from 10% to 5%.

During the year ended December 31, 2020 and 2019, the Group does not have any plan to require its PRC subsidiaries to distribute their retained earnings and intends to retain them to operate and expand its business in the PRC. Accordingly, no deferred income tax liability on PRC WHT was accrued as of the end of each reporting period.

(g) The Vietnam WHT

The Group has subcontracted games to a platform operating in Vietnam. According to the applicable the Vietnam tax regulations, royalty fees generated from Vietnam are subject to a 10% WHT.

26 所得稅開支(續)

(e) 優惠企業所得稅率

廣州遊萊於二零一九年符合「高新技術 服務企業」資格,於二零二零年及二零 一九年年度可享有15%的優惠所得稅率。

掌贏控於二零二零年及二零一九年年度 符合「小型微利企業」,可享有按利得稅 兩級制計算的優惠所得稅率。根據利得 稅兩級制,合資格法團按5%的稅率就溢 利首1百萬港元繳納稅項,並按10%的 稅率繳納1百萬港元以上溢利的稅項。

(f) 中國預扣所得稅(「預扣稅」)

根據適用的中國稅務法規,於中國成立 的公司就二零零八年一月一日之後產生 的溢利向外國投資者分派的股息一般須 繳納10%的預扣稅。倘於香港註冊成 立的外國投資者符合中國與香港之間訂 立的雙重課稅條約安排項下的條件及規 定,則相關預扣稅稅率將從10%寬減至 5%。

於截至二零二零年及二零一九年十二月 三十一日止年度,本集團並無任何計劃 規定其中國附屬公司分派其保留盈利, 且有意保留該等盈利以於中國經營及拓 展其業務。因此,截至各報告期末,概 無與中國預扣稅有關的應計遞延所得稅 負債。

(g) 越南預扣稅

本集團將遊戲分包予一個在越南營運的 平台。根據適用越南稅務規例,自越南 產生的版權費須繳納10%的預扣稅。

合併財務報表附註(續)

26 INCOME TAX EXPENSE (Continued)

(h) The Brazil WHT

The Group cooperates with a platform in Brazil. According to the applicable the Brazil tax regulations, income generated from Brazil is subject to 10% remittance tax and 15% income tax, which is withheld by the platform.

The tax on the Group's loss before tax differ from the theoretical amount that would arise using the statutory tax rate in the PRC of 25% as follows:

26 所得稅開支(續)

(h) 巴西預扣稅

本集團與一個在巴西的平台合作。根據 適用巴西稅務法例,從巴西產生的收入 須繳納10%匯款稅及15%所得稅,由該 平台預扣。

本公司有關除稅前溢利的稅項與使用中 國法定稅率25%得出的理論金額有差異 如下:

Year ended December 31,

		截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Loss before income tax	除所得稅前虧損	(3,438,715)	(5,602,990)
Tax calculated at a tax rate of 25%	按稅率25%計算的稅項	(859,679)	(1,400,748)
Effect of different tax rates available to	適用於本集團不同附屬公司的
different subsidiaries of the Group	不同稅率的影響	314,905	854,247
Tax losses and temporary differences	並無確認遞延所得稅資產的
for which no deferred income tax	稅務虧損及暫時差異
assets was recognised		346,031	621,701
Effect of income tax rate changes	所得稅率變動的影響	–	(122,312)
Income not subject to tax	毋須課稅收入	(4,389)	(25,386)
Expenses not deductible for tax purposes	就稅務而言不可扣減的開支	209,217	28,277
Overseas withholding income tax	海外預扣所得稅	194,180	203,037
Income tax expense	所得稅開支	200,265	158,816

合併財務報表附註(續)

27 LOSS PER SHARE

Basic

Basic loss per share ("EPS") is calculated by dividing the loss attributable to owners of the Company by the weighted average number of ordinary shares in issue less shares held for the Share Option Scheme during the years ended December 31, 2020 and 2019.

27 每股虧損

基本

於截至二零二零年及二零一九年十二月三十一 日止年度,每股基本虧損(「每股虧損」)乃按 本公司擁有人應佔虧損除以已發行的加權平均 普通股數減就購股權計劃持有的股份計算。

		Year ended December 31,
		截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		美元	美元
Loss attributable to owners of the	本公司擁有人應佔虧損(美元)
Company (USD)		(3,638,980)	(5,761,806)
Weighted average number of ordinary	已發行的加權平均普通股數減就
shares in issue less shares held for the	購股權計劃持有的股份(附註(a))
Share Option Scheme (Note (a))		1,855,371,418	1,850,176,135
– Basic EPS (in USD cents/share)	-每股基本虧損(美仙╱股)	(0.20)	(0.31)

(a) The EPS is determined based on that 1,855,371,418 (2019: 1,850,176,135) shares were the weighted average number of ordinary shares in issue excluding the 144,628,582 (2019: 149,823,865) shares which were the weighted average number held for the Share Option Scheme for the year ended December 31, 2020, without taking into account any shares which may be granted and issued by the Company pursuant to the Share Option Scheme.

(a) 每股虧損乃按照已發行的加權平均普通 股數為 1,855,371,418 股(二零一九年: 1,850,176,135股)(不包括截至二零二零年 十二月三十一日止年度就購股權計劃持有的 加權平均股數144,628,582股(二零一九年: 149,823,865股))計算,當中不計及本公司根 據購股權計劃可授出及發行的任何股份。

合併財務報表附註(續)

27 LOSS PER SHARE (Continued)

Diluted

The share options granted by the Company have potential dilutive effect on the EPS. Diluted EPS is calculated by adjusting the weighted average number of ordinary shares in issue less shares held for the Share Option Scheme outstanding by the assumption of the conversion of all potential dilutive ordinary shares arising from share options granted by the Company (collectively forming the denominator for computing the diluted EPS). No adjustment is made to loss/earnings (numerator).

27 每股虧損(續)

攤薄

本公司授出的購股權對每股虧損有潛在攤薄作 用。每股攤薄虧損乃就已發行普通股的加權平 均數減就購股權計劃持有的發行在外股份數目 作調整而計算,而此乃假設本公司授出的購股 權所產生的所有潛在攤薄普通股均獲轉換(合 共組成計算每股攤薄虧損的分母)。虧損 ╱ 盈 利(分子)並無作調整。

		Year ended December 31,
		截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
Loss attributable to owners of the	本公司擁有人應佔虧損(美元)
Company (USD)		(3,638,980)	(5,761,806)
Weighted average number of ordinary	已發行普通股加權平均數減就
shares in issue less shares held	購股權計劃持有的股份
for the Share Option Scheme		1,855,371,418	1,850,176,135
Adjustments for share options (a)	就購股權作調整(a)	–	–
Weighted average number of ordinary	用作計算每股攤薄虧損的普通股
shares for the calculation of diluted EPS	加權平均數	1,855,371,418	1,850,176,135
– Diluted EPS (in USD cents/share)	-每股攤薄虧損(美仙╱股)	(0.20)	(0.31)

(a) The 36,428,295 (2019: 39,977,019) options granted and remained unexercised are not included in the calculation of diluted loss per share because they are antidilutive for the year ended December 31, 2020. These options could potentially dilute basic loss per share in the future.

28 DIVIDEND

The directors of the Company did not recommend the payment of any dividend for the year ended December 31, 2020 (2019: same).

(a) 由於授出而尚未行使的36,428,295份(二零一 九年:39,977,019份)購股權對截至二零二零 年十二月三十一日止年度有反攤薄效應,因此 於計算每股攤薄虧損時並無將該等購股權計算 在內。該等購股權於未來可能會攤薄每股基本 虧損。

28 股息

本公司董事不建議派付截至二零二零年十二月 三十一日止年度之任何股息(二零一九年:相 同)。

合併財務報表附註(續)

29 CASH FLOW INFORMATION

29 現金流量資料

(a) Cash generated from/(used in) operations

(a) 經營所得╱(所用)現金

		Year ended December 31,
		截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Loss before income tax	除所得稅前虧損	(3,438,715)	(5,602,990)
Adjustments for:	就以下各項作出調整:
– Provision for trade receivables (Note 23)	-貿易應收款項撥備(附註23)	513,351	1,384,675
– Impairment of investment in	-於聯營公司的投資之減值
associate (Note 12)	(附註12)	–	652,596
– Impairment of other receivables	-其他應收款項減值	13,878	78,347
– Impairment of prepayment for royalty	-版權費及特許權費預付款減值
fees and license fees (Note 15)	(附註15)	91,699	1,381,954
– Impairment of intangible assets (Note 8)	-無形資產減值(附註8)	1,197,113	128,920
– Depreciation of property, plant and	-物業、廠房及設備折舊(附註6)
equipment (Note 6)		362,077	369,867
– Depreciation of right-of-use assets (Note 7)	-使用權資產折舊(附註7)	313,095	289,512
– Amortisation of intangible assets (Note 8)	-無形資產攤銷(附註8)	476,295	663,854
– Loss on disposal of property, plant and	-出售物業、廠房及設備虧損
equipment (Note 6)	(附註6)	573	–
– Share-based payments	-以股份為基礎付款	652,680	1,577,434
– Interest income	-利息收入	(6,045)	(21,651)
– Interest expense	-利息開支	114,026	114,612
– Reversal of contract liabilities (Note 22)	-合約負債撥回(附註22)	(352,537)	–
– Foreign exchange gains/(losses), net	-匯兌收益╱(虧損)淨額	497,069	(125,890)
		434,559	891,240
Changes in operating assets and liabilities – Trade receivables	經營資產及負債變動 -貿易應收款項		(25,136)
– Prepayments and other receivables	-預付款及其他應收款項	527,684 6,659,036	(6,725,432)
– Contract cost	-合約成本	154,662	(76,006)
– Trade payables	-貿易應付款項	731,186	(39,320)
– Contract liabilities	-合約負債	(706,673)	(298,292)
– Other payables and accruals	-其他應付款項及應計費用	(801,881)	451,572
Cash generated from/(used in) operations	經營所得╱(所用)現金	6,998,573	(5,821,374)

214 Digital Hollywood Interactive Limited Annual Report 2020

合併財務報表附註(續)

29 CASH FLOW INFORMATION (Continued)

(b) Net cash reconciliation

This section sets out an analysis of net cash and the movements in net cash for each of the periods presented.

29 現金流量資料(續)

(b) 現金淨額對賬

本節載列於各呈報期間的現金淨額分析 及現金淨額變動。

		Year ended December 31,
			截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Net cash	現金淨額
Cash and cash equivalents	現金及現金等價物	26,914,401	25,320,274
Short-term deposits	短期存款	5,000,000	–
Lease liabilities	租賃負債	(1,918,747)	(2,070,995)
Net Cash	現金淨額	29,995,654	23,249,279
Cash and cash equivalents and	現金及現金等價物及短期存款
short-term deposits		31,914,401	25,320,274
Gross debt – fixed interest rates	總債項-固定利率	(1,918,747)	(2,070,995)
Net Cash	現金淨額	29,995,654	23,249,279

合併財務報表附註(續)

29 CASH FLOW INFORMATION (Continued)

29 現金流量資料(續)

(b) Net cash reconciliation (Continued)

(b) 現金淨額對賬(續)

				Liabilities
				from
				financing
		Other assets		activities
				融資活動
		其他資產		產生的負債
		Cash and
		cash	Short-term
		equivalents	deposits	Leases	Total
		現金及現金等價物	短期存款	租賃	總計
		USD	USD	USD	USD
		美元	美元	美元	美元
Net cash as at	於二零一九年一月一日的
January 1, 2019	現金淨額	32,598,242	–	–	32,598,242
Recognised on adoption	採納國際財務報告準則時確認
of IFRS 16		–	–	(2,266,806)	(2,266,806)
Cash flows	現金流量	(7,273,757)	–	234,772	(7,038,985)
Acquisition – leases	收購-租賃	–	–	(68,093)	(68,093)
Foreign exchange adjustments	匯兌調整	(4,211)	–	29,132	24,921
Net cash as at	於二零一九年十二月三十一日
December 31, 2019	的現金淨額	25,320,274	–	(2,070,995)	23,249,279
Net cash as at January 1, 2020	於二零二零年一月一日的
	現金淨額	25,320,274	–	(2,070,995)	23,249,279
Cash flows	現金流量	1,193,870	5,000,000	292,297	6,486,167
Foreign exchange adjustments	匯兌調整	400,257	–	(140,049)	260,208
Net cash as at	於二零二零年十二月三十一日
December 31, 2020	的現金淨額	26,914,401	5,000,000	(1,918,747)	29,995,654

合併財務報表附註(續)

30 重大關聯方交易 30 S I G N I F I C A N T R E L A T E D P A R T Y TRANSACTIONS

Key management personnel compensations

The compensations paid or payable to key management personnel (including directors and CEO) for employee services are shown below:

關鍵管理層人員的薪酬

就僱員服務已付或應付關鍵管理層人員(包括 董事及首席執行官)的薪酬列示如下:

		Year ended December 31, 截至十二月三十一日止年度
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Wages and salaries	工資及薪金	201,092	229,658
Pension costs – defined	養老金成本-界定供款計劃
contribution plans		833	13,064
Other social security costs, housing benefits	其他社會保障成本、住房福利及
and other employee benefits	其他僱員福利	7,933	11,971
		209,858	254,693

31 COMMITMENTS

31 承擔

Non-cancellable operating leases

From 1 January 2019, the Group has recognised right-of-use assets for these leases, except for short-term and low-value leases, see note 7 for further information.

不可撤銷經營租賃

自二零一九年一月一日起,本集團已就該等 租賃(短期及低價值租賃除外)確認使用權資 產,有關進一步資料請參閱附註7。

			As at December 31,
			於十二月三十一日
		2020	2019
		二零二零年	二零一九年
		USD	USD
		美元	美元
Not later than 1 year	不遲於1年	11,063	7,589

32 CONTINGENT LIABILITIES

The Group is currently involved in a lawsuit of a series of intellectual property licensing agreements against Qianhai Huanjing. The outcome of this legal proceeding is undeterminable at the moment. The directors do not expect that the outcome of this legal proceeding will have a material adverse effect on the Group's financial position or results of operations.

32 或然負債

本集團現時涉及針對前海幻境一連串知識產權 授權協議的訴訟。此項訴訟的結果目前未可釐 定。董事預期此項訴訟不會對本集團的財務狀 況或經營業績產生重大不利影響。

合併財務報表附註(續)

33 B A L A N C E S H E E T A N D R E S E R V E MOVEMENT OF THE COMPANY 33 本公司資產負債表及儲備變動

		As at December 31, 於十二月三十一日 2020 二零二零年 USD 美元	2019 二零一九年 USD 美元
ASSETS Non-current assets Financial assets at FVOCI Investments in subsidiaries Prepayments	資產 非流動資產 按公允價值計量且其變動計入 其他全面收益的金融資產 於附屬公司的投資 預付款	1,164,245 455,449 50,000	963,185 455,449 50,000
		1,669,694	1,468,634
Current assets Amount due from subsidiaries Prepayments and other receivables Cash and cash equivalents	流動資產 應收附屬公司款項 預付款及其他應收款項 現金及現金等價物	28,069,553 56,229 17,696,213 45,821,995	26,762,838 51,622 18,461,072 45,275,532
Total assets	總資產	47,491,689	46,744,166
EQUITY AND LIABILITIES Equity Share capital Shares held for the Share Option Scheme Reserves Accumulated losses	權益及負債 權益 股本 就購股權計劃持有的股份 儲備 累計虧損	2,000,000 (144,224) 39,701,489 (3,103,672)	2,000,000 (147,560) 38,835,681 (2,893,832)
Total equity	總權益	38,453,593	37,794,289
Liabilities Current liabilities Amount due to subsidiaries Other payables and accruals	負債 流動負債 應付附屬公司款項 其他應付款項及應計費用	8,900,553 137,543	8,689,066 260,811
Total liabilities Total equity and liabilities	總負債 總權益及負債	9,038,096 47,491,689	8,949,877 46,744,166

The balance sheet of the Company was approved by the Board of Directors on March 30, 2021 and was signed on its behalf.

本公司的資產負債表已由董事會於二零二一年 三月三十日批准並代為簽署。

董事 董事 Director Director

合併財務報表附註(續)

33 本公司資產負債表及儲備變動 (續) 33 B A L A N C E S H E E T A N D R E S E R V E MOVEMENT OF THE COMPANY (Continued)

(a) Reserve movement of the Company

(a) 本公司的儲備變動

		Reserves 儲備 Share based
		Accumulated losses	Share premium	payment reserves 以股份為	Fair value reserves	Total
		累計虧損 USD	股份溢價 USD	基礎付款 儲備 USD	公允價值 儲備 USD	總計 USD
		美元	美元	美元	美元	美元
Balance at January 1,	於二零二零年一月一日
2020	結餘	(2,893,832)	35,893,900	4,538,203	(1,596,422)	38,835,681
Losses for the year The Share Option Scheme – Exercise of share	年內虧損 購股權計劃 -行使購股權	(209,840)	–	–	–	–
options		–	401,651	(389,583)	–	12,068
– Value of employee services	-僱員服務價值	–	–	652,680	–	652,680
Change in fair value of	按公允價值計量且其變動
financial asset at FVOCI	計入其他全面收益的金融 資產之公允價值變動	–	–	–	201,060	201,060
Balance at December 31,	於二零二零年
2020	十二月三十一日結餘	(3,103,672)	36,295,551	4,801,300	(1,395,362)	39,701,489
Balance at January 1,	於二零一九年一月一日
2019	結餘	(863,570)	35,603,166	3,245,184	89,572	38,937,922
Losses for the year	年內虧損	(2,030,262)	–	–	–	–
The Share Option Scheme	購股權計劃
– Exercise of share	-行使購股權
options – Value of employee	-僱員服務價值	–	290,734	(284,415)	–	6,319
services		–	–	1,577,434	–	1,577,434
Change in fair value of	按公允價值計量且其變動
financial asset at FVOCI	計入其他全面收益的金融
	資產之公允價值變動	–	–	–	(1,685,994)	(1,685,994)
Balance at December 31,	於二零一九年

2019

十二月三十一日結餘 (2,893,832) 35,893,900 4,538,203 (1,596,422) 38,835,681

合併財務報表附註(續)

34 B E N E F I T S A N D I N T E R E S T S O F DIRECTORS (DISCLOSURES REQUIRED BY SECTION 383 OF THE HONG KONG C O M P A N I E S O R D I N A N C E ( C A P . 622), COMPANIES (DISCLOSURE OF INFORMATION ABOUT BENEFITS OF DIRECTORS) REGULATION (CAP. 622G) AND HK LISTING RULES)

(a) D i r e c t o r s ' and chief executive 's emoluments

The remuneration of every director and chief executive for the year ended December 31, 2020 is set out below:

34 董事福利及利益(香港公司條 例(第622章)第383條、公司 (披露董事利益資料)規例(第 622G章)及香港上市規則所規 定的披露)

(a) 董事及最高行政人員的酬金

每名董事及最高行政人員於截至二零二 零年十二月三十一日止年度的薪酬載列 如下:

				Other
				social
				security
				costs,
				housing
				benefits	Pension
				and other	cost-defined
		Directors'		employee	contribution
Name		fees	Salaries(i)	benefits	plans	Total
				其他社會
				保障成本、
				住房福利 及其他僱員	養老金成本-
姓名		董事袍金	薪金(i)	福利	界定供款計劃	總計
		USD	USD	USD	USD	USD
		美元	美元	美元	美元	美元
Executive directors	執行董事
Mr. Lu Yuanfeng (Note ii)	陸源峰先生(附註ii)	–	59,288	2,889	305	62,482
Mr. Huang Guozhan (Note iii)	黃國湛先生(附註iii)	–	51,684	2,522	264	54,470
Mr. Huang Deqiang (Note iv)	黃德強先生(附註iv)	–	51,684	2,522	264	54,470
Independent Non-executive Directors	獨立非執行董事
Ms. Imma Ling Kit-sum (Note vi)	凌潔心女士(附註vi)	12,894	–	–	–	12,894
Mr. Li Yi Wen (Note vi)	李毅文先生(附註vi)	12,771	–	–	–	12,771
Mr. Lu Qi Bo (Note vii)	盧啟波先生(附註vii)	12,771	–	–	–	12,771
		38,436	162,656	7,933	833	209,858

合併財務報表附註(續)

34 B E N E F I T S A N D I N T E R E S T S O F DIRECTORS (DISCLOSURES REQUIRED BY SECTION 383 OF THE HONG KONG C O M P A N I E S O R D I N A N C E ( C A P . 622), COMPANIES (DISCLOSURE OF INFORMATION ABOUT BENEFITS OF DIRECTORS) REGULATION (CAP. 622G) AND HK LISTING RULES) (Continued)

(a) D i r e c t o r s ' and chief executive 's emoluments (Continued)

The remuneration of every director and chief executive for the year ended December 31, 2019 is set out below:

34 董事福利及利益(香港公司條 例(第622章)第383條、公司 (披露董事利益資料)規例(第 622G章)及香港上市規則所規 定的披露)(續)

(a) 董事及最高行政人員的酬金 (續)

每名董事及最高行政人員於截至二零一 九年十二月三十一日止年度的薪酬載列 如下:

				Other
				social
				security
				costs,
				housing
				benefits	Pension
				and other	cost-defined
		Directors'		employee	contribution
Name		fees	Salaries(i)	benefits 其他社會 保障成本、 住房福利及	plans	Total
				其他僱員	養老金成本-
姓名		董事袍金	薪金(i)	福利	界定供款計劃	總計
		USD 美元	USD 美元	USD 美元	USD 美元	USD 美元
Executive directors	執行董事
Mr. Lu Yuanfeng (Note ii)	陸源峰先生(附註ii)	–	59,415	4,153	4,494	68,062
Mr. Huang Guozhan (Note iii)	黃國湛先生(附註iii)	–	51,793	3,909	4,285	59,987
Mr. Huang Deqiang (Note iv)	黃德強先生(附註iv)	–	51,793	3,909	4,285	59,987
Independent Non-executive Directors	獨立非執行董事
Mr. Darren Raymond Shaw (Note v)	邵在純先生(附註v)	13,087	–	–	–	13,087
Mr. Li Yi Wen (Note vi)	李毅文先生(附註vi)	25,213	–	–	–	25,213
Ms. Imma Ling Kit-sum (Note vi)	凌潔心女士(附註vi)	25,213	–	–	–	25,213
Mr. Lu Qi Bo (Note vii)	盧啟波先生(附註vii)	3,144	–	–	–	3,144
		66,657	163,001	11,971	13,064	254,693

合併財務報表附註(續)

34 B E N E F I T S A N D I N T E R E S T S O F DIRECTORS (DISCLOSURES REQUIRED BY SECTION 383 OF THE HONG KONG C O M P A N I E S O R D I N A N C E ( C A P . 622), COMPANIES (DISCLOSURE OF INFORMATION ABOUT BENEFITS OF DIRECTORS) REGULATION (CAP. 622G) AND HK LISTING RULES) (Continued)

(a) D i r e c t o r s ' and chief executive 's emoluments (Continued)

Notes:

• (i) Salary paid to a director is generally an emolument paid or receivable in respect of that person's other services in connection with the management of the affairs of the Company or its subsidiary undertakings.
• (ii) Mr. Lu Yuanfeng was appointed as director and re-designated as executive director as well as chief executives of the Company and chairman of the Board on November 24, 2014.
• (iii) Mr. Huang Guozhan was appointed as director and re-designated as an executive director of the Company on November 2, 2015.
• (iv) Mr. Huang Deqiang was appointed as director and re-designated as an executive director of the Company on June 28, 2017.
• (v) Mr. Darren Raymond Shaw were appointed as independent non-executive directors of the Company on November 24, 2017 and resigned as an independent non-executive director of the Company on July 5, 2019.
• (vi) Mr. Li Yi Wen and Ms. Imma Ling Kit-sum were appointed as independent non-executive director of the Company on November 24, 2017.
• (vii) Mr. Lu Qi Bo was appointed as independent non-executive director of the Company on October 3, 2019.

During the year ended December 31, 2020, no directors waived or agreed to waive any emoluments (2019: nil).

34 董事福利及利益(香港公司條 例(第622章)第383條、公司 (披露董事利益資料)規例(第 622G章)及香港上市規則所規 定的披露)(續)

(a) 董事及最高行政人員的酬金 (續)

附註:

• (i) 已付董事的薪金一般是指就該人士在與 管理本公司或其附屬公司的事務有關的 其他服務而已付或應收的酬金。
• (ii) 陸源峰先生獲委任為董事並於二零一四 年十一月二十四日調任為本公司執行董 事及首席執行官兼董事會主席。
• (iii) 黃國湛先生獲委任為董事並於二零一五 年十一月二日調任為本公司執行董事。
• (iv) 黃德強先生獲委任為董事並於二零一七 年六月二十八日調任為本公司執行董 事。
• (v) 邵在純先生於二零一七年十一月二十四 日獲委任為本公司獨立非執行董事,並 於二零一九年七月五日辭任本公司獨立 非執行董事。
• (vi) 李毅文先生及凌潔心女士於二零一七年 十一月二十四日獲委任為本公司獨立非 執行董事。
• (vii) 盧啟波先生於二零一九年十月三日獲委 任為本公司獨立非執行董事。

於截至二零二零年十二月三十一日止年 度,概無董事放棄或同意放棄任何酬金 (二零一九年:無)。

合併財務報表附註(續)

34 B E N E F I T S A N D I N T E R E S T S O F DIRECTORS (DISCLOSURES REQUIRED BY SECTION 383 OF THE HONG KONG C O M P A N I E S O R D I N A N C E ( C A P . 622), COMPANIES (DISCLOSURE OF INFORMATION ABOUT BENEFITS OF DIRECTORS) REGULATION (CAP. 622G) AND HK LISTING RULES) (Continued)

(b) Directors' retirement benefits

No retirement benefits were paid to or receivable by the directors in respect of their services as directors of the Company and its subsidiaries or other services in connection with the management of the affairs of the Company or its subsidiary undertaking during the year ended December 31, 2020 (2019: nil).

(c) Directors' termination benefits

During the year ended December 31, 2020, no payments or benefits in respect of termination of directors' services were paid or made, directly or indirectly, to the directors; nor are any payable (2019: nil).

(d) Consideration provided to third parties for making available directors' services

No consideration was provided to or receivable by third parties for making available directors' services subsisted at the end of or at any time during the year ended December 31, 2020 (2019: nil).

34 董事福利及利益(香港公司條 例(第622章)第383條、公司 (披露董事利益資料)規例(第 622G章)及香港上市規則所規 定的披露)(續)

(b) 董事的退休福利

於截至二零二零年十二月三十一日止年 度,並無就作為本公司及其附屬公司董 事提供的服務或就與管理本公司或其附 屬公司的事務有關的其他服務而已付 董事或董事應收的退休福利(二零一九 年:無)。

(c) 董事的終止福利

於截至二零二零年十二月三十一日止年 度,概無就董事終止服務而直接或間接 向董事支付或提供任何款項或福利,亦 無任何就此應付的款項或福利(二零一 九年:無)。

(d) 就獲提供董事服務向第三方 提供的代價

概無就獲提供且於截至二零二零年十二 月三十一日止年度結束時或於期間任何 時間仍然存在的董事服務而向第三方提 供或第三方應收的任何代價(二零一九 年:無)。

遊萊互動集團有限公司 二零二零年年報 223

合併財務報表附註(續)

34 B E N E F I T S A N D I N T E R E S T S O F DIRECTORS (DISCLOSURES REQUIRED BY SECTION 383 OF THE HONG KONG C O M P A N I E S O R D I N A N C E ( C A P . 622), COMPANIES (DISCLOSURE OF INFORMATION ABOUT BENEFITS OF DIRECTORS) REGULATION (CAP. 622G) AND HK LISTING RULES) (Continued)

(e) Information about loans, quasi-loans and other dealings in favour of directors, controlled bodies corporate by and connected entities with such directors

No loans, quasi-loans and other dealings in favour of directors, controlled bodies corporate by and connected entities with such directors subsisted at the end of or at any time during the year ended December 31, 2020 (2019: nil).

(f) D i r e c t o r s ' m a t e r i a l i n t e r e s t s i n transactions, arrangements or contracts

No other significant transactions, arrangements and contracts in relation to the Group's business to which the Company was a party and in which a director of the Company had a material interest, whether directly or indirectly, subsisted at the end of or at any time during the year ended December 31, 2020 (2019: nil), except for the transactions disclosed in Note 29.

• 34 董事福利及利益(香港公司條 例(第622章)第383條、公司 (披露董事利益資料)規例(第 622G章)及香港上市規則所規 定的披露)(續)
• (e) 有關以董事、該等董事控制 的法團及彼等的關連實體為 受益人的貸款、類似貸款及 其他交易的資料

概無以董事、該等董事控制的法團及彼 等的關連實體為受益人的貸款、類似貸 款及其他交易於截至二零二零年十二月 三十一日止年度結束時或於期間任何時 間仍然存在(二零一九年:無)。

(f) 董事於交易、安排或合約的 重大權益

概無本公司為參與方及本公司董事於當 中有重大權益(不論直接或間接)且與本 集團業務有關的其他重大交易、安排及 合約於截至二零二零年十二月三十一日 止年度結束時或於期間任何時間仍然存 在(二零一九年:無),惟附註29所披露 的交易除外。