eprint Group Limited - Interim / Quarterly Report 2019

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INTERIM REPORT 中期報告

CONTENTS 目錄

Corporate Information

Financial Highlights

Condensed Interim Consolidated Statement of Comprehensive Income Condensed Interim Consolidated Statement of Financial Position Condensed Interim Consolidated Statement of Changes in Equity

Condensed Interim Consolidated Statement of Cash Flows Notes to the Condensed Interim Consolidated Financial Information Management Discussion and Analysis Other Information

公司資料	2
財務摘要	4
簡明中期合併綜合收益表	5
簡明中期合併財務狀況表	7
簡明中期合併權益變動表	9
簡明中期合併現金流量表	11
簡明中期合併財務資料附註	13
管理層討論及分析	57
其他資料	68

Interim Report 2018 二零一八年中期報告

CORPORATE INFORMATION 公司資料

BOARD OF DIRECTORS

Executive directors

Mr. She Siu Kee William (Chairman and Chief Executive Officer) Mr. Lam Shing Kai

Non-executive directors

Mr. Chong Cheuk Ki Mr. Leung Wai Ming Mr. Deng Xiaen

Independent non-executive directors

Mr. Poon Chun Wai Mr. Fu Chung Mr. Ma Siu Kit

AUDIT COMMITTEE

Mr. Ma Siu Kit (Chairman) Mr. Poon Chun Wai Mr. Fu Chung

REMUNERATION COMMITTEE

Mr. Poon Chun Wai (Chairman) Mr. She Siu Kee William Mr. Fu Chung

NOMINATION COMMITTEE

Mr. Fu Chung (Chairman) Mr. She Siu Kee William Mr. Poon Chun Wai

AUTHORISED REPRESENTATIVES

Mr. She Siu Kee William Mr. Mok Chun Wa

COMPANY SECRETARY

Mr. Mok Chun Wa

REGISTERED OFFICE

4th Floor, Harbour Place 103 South Church Street George Town, P.O. Box 10240 Grand Cayman KY1-1002 Cayman Islands

董事會

執行董事 佘紹基先生（主席暨行政總裁）林承佳先生

非執行董事 莊卓琪先生梁衞明先生鄧夏恩先生

獨立非執行董事 潘振威先生傅忠先生馬兆杰先生

審核委員會

馬兆杰先生（主席）潘振威先生傅忠先生

薪酬委員會

潘振威先生（主席）佘紹基先生傅忠先生

提名委員會

傅忠先生（主席）佘紹基先生潘振威先生

授權代表 佘紹基先生莫俊華先生

公司秘書 莫俊華先生

註冊辦事處

4th Floor, Harbour Place 103 South Church Street George Town, P.O. Box 10240 Grand Cayman KY1-1002 Cayman Islands

eprint Group Limited eprint 集團有限公司

CORPORATE INFORMATION 公司資料

HEADQUARTER AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG

Flat A3, 1st Floor, Phase 3 Kwun Tong Industrial Centre 448-458 Kwun Tong Road Kwun Tong, Kowloon Hong Kong

PRINCIPAL BANKERS

Bank of China (Hong Kong) Limited Dah Sing Bank, Limited

AUDITOR

PricewaterhouseCoopers Certified Public Accountants

LEGAL ADVISOR TO THE COMPANY (HONG KONG LAW) Michael Li & Co.

PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

Estera Trust (Cayman) Limited Clifton House 75 Fort Street P.O. Box 1350 Grand Cayman KY1-1108 Cayman Islands

HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE

Tricor Investor Services Limited Level 22 Hopewell Centre 183 Queen’s Road East Hong Kong

COMPANY WEBSITE

http://www.eprintgroup.com.hk

STOCK CODE

1884

香港總公司及主要營業地點

香港九龍觀塘觀塘道448-458號官塘工業中心第3期1樓 A3室

主要往來銀行

中國銀行（香港）有限公司大新銀行有限公司

核數師

羅兵咸永道會計師事務所執業會計師

本公司法律顧問（香港法律）

李智聰律師事務所

主要股份登記及過戶處

Estera Trust (Cayman) Limited Clifton House 75 Fort Street P.O. Box 1350 Grand Cayman KY1-1108 Cayman Islands

香港股份登記及過戶分處

卓佳證券登記有限公司香港皇后大道東183號合和中心 22樓

公司網址

http://www.eprintgroup.com.hk

股份代號

1884

Interim Report 2018 二零一八年中期報告

FINANCIAL HIGHLIGHTS 財務摘要

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For the six months ended
30 September
截至九月三十日止六個月 Change
2018 2017
二零一八年二零一七年變動
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Operating Results 營運業績
Revenue 收益 204,789 198,604 3.1%
– e-print segment – e-print分部 158,168 155,975 1.4%
– e-banner segment – e-banner 分部 46,621 42,629 9.4%
Segment results 分部業積 12,889 11,470 12.4%
– e-print segment – e-print分部 11,915 12,871 (7.4%)
– e-banner segment – e-banner 分部 974 (1,401) (169.5%)
Profit for the period attributable to 本公司權益持有人應佔
equity holders of company 本期溢利 11,456 10,063 13.8%
Net profit margin % (Attributable to 純利率%（本公司權益
equity holders of company) 持有人應佔） 5.6% 5.1%
Gross profit margin % 毛利率% 35.6% 36.5%
Basic earnings per share (HK Cents) 每股基本盈利（港仙） 2.08 1.83 13.7%
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As at As at
30 September 31 March
2018 2018 Change
於二零一八年於二零一八年
九月三十日三月三十一日變動
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Financial Position 財務狀況
Total assets 資產總額 299,320 311,157 (3.8%)
Total equity 權益總額 228,488 231,666 (1.4%)
Cash and cash equivalents 現金及現金等值項目 73,502 89,524 (17.9%)
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4 eprint Group Limited eprint 集團有限公司

CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 簡明中期合併綜合收益表

For the six months ended 30 September 2018 截至二零一八年九月三十日止六個月

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
Note HK$’000 HK$’000
附註千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Revenue 收益 204,789 198,604
Cost of sales 銷售成本 (131,836) (126,079)
Gross profit 毛利 72,953 72,525
Other income 其他收入 1,629 1,869
Other gains/(losses) – net 其他收益╱（虧損）－淨額 1,791 (4,241)
Selling and distribution expenses 銷售及分銷開支 (23,624) (22,449)
Administrative expenses 行政開支 (39,860) (36,234)
Operating profit 營運溢利 7 12,889 11,470
Finance income 融資收入 446 222
Finance costs 融資成本 (393) (813)
Finance income/(costs) – net 融資收入╱（成本）－淨額 8 53 (591)
Share of profit of a joint venture 應佔合營企業溢利 1,047 512
Share of (losses)/profits of associates 應佔聯營公司（虧損）╱溢利 (578) 130
Profit before income tax 除所得稅前溢利 13,411 11,521
Income tax expense 所得稅開支 9 (1,898) (2,352)
Profit for the period 期內溢利 11,513 9,169
Other comprehensive income: 其他綜合收益：
Item that may be subsequently 可能隨後重新分類至損益的
reclassified to profit or loss 項目
Currency translation differences 匯兌差額 (1,491) 606
Total comprehensive income 期內綜合收益總額
for the period 10,022 9,775
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Interim Report 2018 二零一八年中期報告

CONDENSED INTERIM CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 簡明中期合併綜合收益表

For the six months ended 30 September 2018 截至二零一八年九月三十日止六個月

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
Note HK$’000 HK$’000
附註千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Profit for the period 以下各項應佔期內溢利：
attributable to:
Equity holders of the Company 本公司權益持有人 11,456 10,063
Non-controlling interest 非控股權益 57 (894)
11,513 9,169
Earnings per share 每股盈利
– basic and diluted (expressed －基本及攤薄
in HK cents per share) （按每股港仙計） 10 2.08 1.83
Total comprehensive income 以下各項應佔綜合收益
attributable to: 總額：
Equity holders of the Company 本公司權益持有人 10,042 10,598
Non-controlling interest 非控股權益 (20) (823)
10,022 9,775
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The notes on pages 13 to 56 form an integral part of this condensed interim consolidated financial information.

第13至56頁的附註構成本簡明中期合併財務資料不可分割的一部分。

eprint Group Limited eprint 集團有限公司

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION 簡明中期合併財務狀況表

As at 30 September 2018 於二零一八年九月三十日

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
Note HK$’000 HK$’000
附註千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Assets 資產
Non-current assets 非流動資產
Property, plant and equipment 物業、廠房及設備 12 130,272 135,671
Intangible assets 無形資產 725 725
Investments in associates 於聯營公司的投資 16 2,207 2,977
Investment in a joint venture 於合營企業的投資 15 8,434 8,021
Deferred income tax assets 遞延所得稅資產 2,256 2,402
Deposits and prepayments 按金及預付款項 3,061 4,913
146,955 154,709
Current assets 流動資產
Inventories 存貨 7,196 6,051
Trade receivables 貿易應收款項 17 7,575 7,880
Deposits, prepayments and 按金、預付款項及
other receivables 其他應收款項 29,689 15,036
Held-to-maturity investments 持至到期投資 – 15,000
Other financial assets at 按攤銷成本列賬之
amortised cost 其他金融資產 13 25,011 –
Financial assets at fair value 透過損益按公允價值
through profit or loss 列賬之金融資產 14 5,605 12,746
Current income tax recoverable 當期可退回所得稅 – 20
Amounts due from related 應收關連公司款項
companies 23(b) 3,787 10,191
Cash and cash equivalents 現金及現金等值項目 73,502 89,524
152,365 156,448
Total assets 資產總額 299,320 311,157
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Interim Report 2018 二零一八年中期報告

CONDENSED INTERIM CONSOLIDATED STATEMENT OF FINANCIAL POSITION 簡明中期合併財務狀況表

As at 30 September 2018 於二零一八年九月三十日

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
Note HK$’000 HK$’000
附註千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Equity 權益
Capital and reserves attributable 本公司權益持有人
to the equity holders of 應佔資本及儲備
the Company
Share capital 股本 18 5,500 5,500
Share premium 股份溢價 132,921 132,921
Other reserves 其他儲備 83,710 86,868
222,131 225,289
Non-controlling interests 非控股權益 6,357 6,377
Total equity 權益總額 228,488 231,666
Liabilities 負債
Non-current liabilities 非流動負債
Obligations under finance leases 融資租賃項下責任 21 1,139 1,935
Deferred income tax liabilities 遞延所得稅負債 7,628 7,768
Other payables 其他應付款項 1,186 1,186
9,953 10,889
Current liabilities 流動負債
Trade payables 貿易應付款項 19 11,331 12,886
Accruals and other payables 應計款項及其他應付款項 22,355 25,270
Borrowings 借貸 20 23,512 24,592
Obligations under finance leases 融資租賃項下責任 21 3,418 5,110
Amount due to related companies 應付關連公司款項 23(b) 36 336
Amounts due to directors 應付董事款項 23(b) 200 245
Current income tax payable 應付當期所得稅 27 163
60,879 68,602
Total liabilities 負債總額 70,832 79,491
Total equity and liabilities 權益及負債總額 299,320 311,157
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The notes on pages 13 to 56 form an integral part of this condensed interim consolidated financial information.

第13至56頁的附註構成本簡明中期合併財務資料不可分割的一部分。

eprint Group Limited eprint 集團有限公司

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 簡明中期合併權益變動表

For the six months ended 30 September 2018 截至二零一八年九月三十日止六個月

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Balance at 31 March 2017 (Audited) and 1 April 2017	於二零一七年三月三十一日結餘（經審核）及二零一七年四月一日	5,500	132,921	6,593	(21)	(2,684)	67,926	210,235	(2,715)	207,520
Comprehensive income Profit for the period	綜合收益期內溢利	–	–	–	–	–	10,063	10,063	(894)	9,169
Other comprehensive income Current translation differences – Group – Associates and a joint venture	其他綜合收益匯兌差額－本集團－聯營公司及合營企業	– –	– –	– –	– –	79 456	– –	79 456	71 –	150 456
Total comprehensive income	綜合收益總額	–	–	–	–	535	10,063	10,598	(823)	9,775
Total transactions with owners, recognised directly in equity: Final dividend relating to the year ended 31 March 2017 paid in August 2017 (Note 11)	直接於權益確認的與擁有人的總交易：於二零一七年八月已付有關截至二零一七年三月三十一日止年度的末期股息（附註11）	–	–	–	–	–	(8,800)	(8,800)	–	(8,800)
Capital injection from non-controlling interests	非控股權益注資	–	–	–	–	–	–	–	7,840	7,840
Balance at 30 September 2017 (Unaudited)	於二零一七年九月三十日結餘（未經審核）	5,500	132,921	6,593	(21)	(2,149)	69,189	212,033	4,302	216,335

Interim Report 2018 二零一八年中期報告

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 簡明中期合併權益變動表

For the six months ended 30 September 2018 截至二零一八年九月三十日止六個月

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Attributable to equity holders of the Company
本公司權益持有人應佔
Non-
Share Share Capital Other Exchange Retained controlling
capital premium reserve reserve reserve earnings Sub-total interests Total equity
股本股份溢價資本儲備其他儲備外匯儲備保留盈利小計非控股權益權益總額
HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000
千港元千港元千港元千港元千港元千港元千港元千港元千港元
Balance at 31 March 2018 (Audited) and 於二零一八年三月三十一日
1 April 2018 結餘（經審核）及
二零一八年四月一日 5,500 132,921 6,593 (21) (862) 81,158 225,289 6,377 231,666
Comprehensive income 綜合收益
Profit for the period 期內溢利 – – – – – 11,456 11,456 57 11,513
Other comprehensive income 其他綜合收益
Current translation differences 匯兌差額
– Group －本集團 – – – – (587) – (587) (77) (664)
– Associates and a joint venture －聯營公司及合營企業 – – – – (827) – (827) – (827)
Total comprehensive income 綜合收益總額 – – – – (1,414) 11,456 10,042 (20) 10,022
Total transactions with owners, 直接於權益確認的與擁有人的
recognised directly in equity: 總交易：
Final dividend relating to the year ended 於二零一八年九月已付有關截至
31 March 2018 paid in September 2018 二零一八年三月三十一日
(Note 11) 止年度的末期股息（附註11） – – – – – (13,200) (13,200) – (13,200)
Balance at 30 September 2018 於二零一八年九月三十日
(Unaudited) 結餘（未經審核） 5,500 132,921 6,593 (21) (2,276) 79,414 222,131 (6,357) 228,488
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The notes on pages 13 to 56 form an integral part of this condensed interim consolidated financial information.

第13至56頁的附註構成本簡明中期合併財務資料不可分割的一部分。

eprint Group Limited eprint 集團有限公司

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS 簡明中期合併現金流量表

For the six months ended 30 September 2018 截至二零一八年九月三十日止六個月

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
Note HK$’000 HK$’000
附註千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Cash flows from 經營活動產生的現金流量
operating activities
Cash generated from operations 營運產生的現金 15,747 19,478
Interest paid 已付利息 (393) (813)
Income tax paid 已付所得稅 (2,008) (1,326)
Net cash generated from operating 經營活動產生的現金淨額
activities 13,346 17,339
Cash flows from investing activities 投資活動產生的現金流量
Proceeds from disposal of property, 出售物業、廠房及設備的
plant and equipment 所得款項 118 405
Proceeds from disposal of interest in 出售一間聯營公司權益的
an associate 所得款項 – 1
Proceeds from redemption and 贖回及出售持至到期
disposal of held-to-maturity 投資之所得款項
investments – 10,000
Provision of loan 提供貸款 (10,000) –
Purchase of property, 購買物業、廠房及設備
plant and equipment (2,165) (587)
Prepayment for purchase of property, 購買物業、廠房及設備的
plant and equipment 預付款項 (131) (22)
Consideration paid for investment in 已付投資一間聯營公司的
an associate 代價 – (3)
Interest received 已收利息 309 228
Interest Income from held-to-maturity 持至到期投資的利息收入
investments – 1,000
Net cash (used)/generated from 投資活動（所用）╱產生的現
investing activities 金淨額 (11,869) 11,022
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Interim Report 2018 二零一八年中期報告

CONDENSED INTERIM CONSOLIDATED STATEMENT OF CASH FLOWS 簡明中期合併現金流量表

For the six months ended 30 September 2018 截至二零一八年九月三十日止六個月

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
Note HK$’000 HK$’000
附註千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Cash flows from financing activities 融資活動產生的現金流量
Proceeds from borrowings 借貸所得款項 20 3,012 1,439
Repayments of borrowings 償還借貸 20 (4,092) (11,909)
Repayments of obligations under 償還於融資租賃項下責任的
finance leases 款項 (2,781) (3,956)
Proceeds from issuance of shares to 非控股權益發行股份的
non-controlling interests 所得款項 – 7,840
Dividends paid 已付股息 (13,200) (8,800)
Net cash used in financing 融資活動所用現金淨額
activities (17,061) (15,386)
Net (decrease)/increase in 現金及現金等值項目
cash and cash equivalents （減少）╱增加淨額 (15,584) 12,975
Cash and cash equivalents 期初現金及現金等值項目
at beginning of period 89,524 68,220
Effect of change in exchange rate 匯率變動的影響 (438) (14)
Cash and cash equivalents 期末現金及現金等值項目
at end of period 73,502 81,181
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The notes on pages 13 to 56 form an integral part of this condensed interim consolidated financial information.

第13至56頁的附註構成本簡明中期合併財務資料不可分割的一部分。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION

簡明中期合併財務資料附註

1 GENERAL

eprint Group Limited (the “Company”) was incorporated in the Cayman Islands on 10 January 2013 as an exempted company with limited liability under the Companies Law (Revised) of the Cayman Islands. The Company’s registered office is situated at 4th Floor, Harbour Place, 103 South Church Street, George Town, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands.

The Company is an investment holding company. The Company and its subsidiaries (the “Group”) are principally engaged in the provision of printing services and solutions on advertisement, bound book and stationery, to a diversified customer base in Hong Kong.

The Company has its listing on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).

This condensed interim consolidated financial information is presented in Hong Kong dollars, unless otherwise stated.

2 BASIS OF PREPARATION

This condensed interim consolidated financial information for the six months ended 30 September 2018 has been prepared in accordance with Hong Kong Accounting Standard (“HKAS”) 34 “Interim financial reporting” issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and the requirements of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”).

This condensed interim consolidated financial information should be read in conjunction with the Group’s consolidated financial statements for the year ended 31 March 2018, which are prepared in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”).

1 一般資料

eprint集團有限公司（「本公司」）於二零一三年一月十日根據開曼群島公司法（經修訂）於開曼群島註冊成立為獲豁免有限公司。本公司註冊辦事處地址為4th Floor, Harbour Place, 103 South Church Street, George Town, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands。

本公司為一間投資控股公司。本公司及其附屬公司（「本集團」）主要於香港從事為多元化客戶群提供印刷服務及就廣告、精裝圖書及文具提供解決方案。

本公司在香港聯合交易所有限公司（「聯交所」）主板上市。

本簡明中期合併財務資料按港元呈列，除非另行列明。

2 編製基準

此份截至二零一八年九月三十日止六個月之簡明中期合併財務資料，乃根據香港會計師公會（「香港會計師公會」）頒佈的香港會計準則（「香港會計準則」）第34號「中期財務報告」及聯交所《證券上市規則》（「上市規則」）之規定編製。

本簡明中期合併財務資料須與截至二零一八年三月三十一日止年度之本集團合併財務報表（根據香港財務報告準則（「香港財務報告準則」）編製）一併閱讀。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

The accounting policies applied are consistent with those used in preparing the Group’s financial statements for the year ended 31 March 2018, except as stated below.

(a) The following amendments to standards are mandatory for the Group’s accounting period beginning on 1 April 2018:

HKFRS 15 Revenue from Contracts with Customers HKFRS 15 Clarification to HKFRS 15 (Amendments) HKFRS 9 Financial Instruments

The impact of the adoption of these standards and the new accounting policies are disclosed in Note 3.1 below.

Annual Improvements Annual Improvements 2014 Projects HKFRS 1 – 2016 Cycle and HKAS 28 HKFRS 1 (Amendments) First Time Adoption of HKFRS HKFRS 2 (Amendments) Classification and Measurement of Share-based Payment Transactions HKFRS 4 (Amendments) Applying HKFRS 9 Financial Instruments with HKFRS 4 Insurance Contracts

HKAS 40 (Amendments) Transfers of Investment Property HK(IFRIC) – Int 22 Foreign Currency Transactions and Advance Consideration

The Group has adopted these amendments and the adoption of these amendments did not have significant impacts on the Group’s results and financial position.

3 主要會計政策

應用的會計政策與編製本集團截至二零一八年三月三十一日止年度的財務報表所應用會計政策一致，惟下文所述者除外。

(a) 下列經修訂準則於二零一八年四月一日開始的本集團會計期間強制生效：

香港財務報告準則來自客戶合約之第15號收益香港財務報告準則香港財務報告準則第15號（修訂本）第15號之澄清香港財務報告準則金融工具第9號

採納該等準則及新訂會計政策的影響於下文附註3.1披露。

香港財務報告準則二零一四年至第1號及香港會計二零一六年週期準則第28號年度之年度改進改進項目香港財務報告準則首次採納香港第1號（修訂本）財務報告準則香港財務報告準則股份付款交易之第2號（修訂本）分類及計量

香港財務報告準則與香港財務報告第4號（修訂本）準則第4號保險合約一併應用香港財務報告準則第9號金融工具香港會計準則第40號轉讓投資物業（修訂本）香港（國際財務報告外幣交易及詮釋委員會）詮釋預付代價第22號

本集團已採納該等修訂本，而採納該等修訂本不會對本集團業績及財務狀況產生重大影響。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION

簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策（續）

(Continued)

(a) (Continued)

There are no other new standards or amendments to standards that are effective for the first time for this interim period that could be expected to have a material impact on the Group.

(b) The following new standards and amendments have been issued, but are not effective for the Group’s accounting period beginning on 1 April 2018 and have not been early adopted:

Effective for accounting periods beginning on or after

Annual Improvements Annual Improvements 2015-2017 Project Cycle[1] HKAS 19 Plan Amendment, Curtailment or Settlement[1] HKAS 28 Long-term Interests in Associates and Joint Ventures[1] HKFRS 9 Prepayment Features with (Amendments) Negative Compensation[1] HKFRS 16 Leases[1] HK(IFRIC) – Int 23 Uncertainty over Income Tax Treatments[1] Conceptual Revised Conceptual Framework Framework for for Financial Reporting[4] Financial Reporting 2018 HKFRS 17 Insurance contracts[2]

HKAS 10 and Sale or Contribution of Assets HKFRS 28 between an Investor and (Amendments) its Associates or Joint Venture[3]

1 Effective for the accounting periods beginning on or after 1 January 2019
2 Effective for the accounting periods beginning on or after 1 January 2021
3 Effective for the accounting periods beginning on or after a date to be determined
4 Effective for the accounting periods beginning on or after 1 January 2020
(a) （續）

概無於本中期期間首次生效之其他新訂或經修訂準則預期對本集團產生重大影響。

(b) 以下為已頒佈的新訂準則及修訂本，而於二零一八年四月一日開始的本集團會計期間尚未生效，亦未提前採用：

於以下日期或之後開始的會計期間生效

年度改進項目二零一五年至二零一七年週期之年度改進[1] 香港會計準則計劃修訂、削減第19號或結算[1] 香港會計準則聯營公司及合營第28號企業之長期權益[1] 香港財務報告準則具有負補償的第9號（修訂本）提早還款特性[1] 香港財務報告準則租賃[1] 第16號香港（國際財務報告所得稅處理之詮釋委員會）不確定性[1] 詮釋第23號二零一八年財務財務報告之報告之概念框架經修訂概念框架[4]

香港財務報告準則保險合約[2] 第17號香港會計準則投資者與其聯營第10號及香港公司或合營企業財務報告準則之間的資產第28號（修訂本）出售或注資[3]

1 於二零一九年一月一日或之後開始的會計期間生效
2 於二零二一年一月一日或之後開始的會計期間生效
3 於待釐定之日期或之後開始的會計期間生效
4 於二零二零年一月一日或之後開始的會計期間生效

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策（續）

(Continued)

(b) (Continued)

HKFRS 16, ‘Leases’

Nature of change

HKFRS 16 will result in almost all leases being recognised on the statement of financial position, as the distinction between operating and finance leases is removed. Under the new standard, an asset (the right to use the leased item) and a financial liability to pay rentals are recognised. The only exceptions are short-term and lowvalue leases.

Impact

The standard will affect primarily the accounting for the Group’s operating leases. As at the reporting date, the Group has non-cancellable operating lease commitments of approximately HK$19,187,000. Upon adoption of HKFRS 16 the majority of operating lease commitments will be recongised in the statement of financial position as lease liabilities and right-of-use assets. The lease liabilities would subsequently be measured at amortised cost and the right-ofuse assets will be depreciated on a straight-line basis during the lease term.

The Group has not yet assessed what other adjustments, if any, are necessary for example because of the change in the definition of the lease term and the different treatment of variable lease payments and of extension and termination options. It is therefore not yet possible to estimate the amount of right-of-use assets and lease liabilities that will have to be recognised on adoption of the new standard and how this may affect the Group’s profit or loss and classification of cash flows going forward.

(b) （續）

香港財務報告準則第16號「租賃」

變動之性質

香港財務報告準則第16號將導致幾乎所有租賃於財務狀況表內確認，原因為經營租賃與融資租賃之劃分已被刪除。根據該新訂準則，資產（該租賃項目的使用權）與支付租金之金融負債已獲確認。唯一例外者為短期及低價值租賃。

影響

此準則將主要影響本集團經營租賃之會計處理。於報告日期，本集團有不可撤消之經營租賃承擔約 19,187,000 港元。於採納香港財務報告準則第16號後，大部分經營租賃承擔將於財務狀況表內確認為租賃負債及使用權資產。租賃負債其後會按攤銷成本計量，而使用權資產會於租期內按直線基準進行折舊。

本集團尚未評估須作出何種其他調整（如有），例如，由於租賃期的釋義變動以及可變租賃付款與續租及終止選擇權的不同處理。因此，尚未能估計於採納新訂準則時將須確認的使用權資產及租賃負債金額以及其將可能如何影響本集團的損益與未來現金流量分類。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION

簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策（續）

(Continued)

(b) (Continued)

Some of the commitments may be covered by the exception for short-term and low value leases and some commitments may relate to arrangements that will not qualify as leases under HKFRS 16.

Date of adoption by Group

It is mandatory for financial years commencing on or after 1 January 2019. At this stage, the Group does not intend to adopt the standard before its effective date. The Group intends to apply the simplified transition approach and will not restate comparative amounts for the year prior to first adoption.

Aport from aforementioned HKFRS 16, the directors of the Group is in the process of assessing the financial impact of the adoption of the above new standards and amendments to standards. The directors of the Group will adopt the new and amended standards when they become effective.

(c) Taxes on income in the interim periods are accrued using the tax rate that would be applicable to expected total annual profit or loss.

3.1 Changes in accounting policies

The following explains the impact of the adoption of HKFRS 9 “Financial Instruments” and HKFRS 15 “Revenue from Contracts with Customers” on the Group’s financial information and also discloses the new accounting policies that have been applied from 1 April 2018, where they are different to those applied in prior periods.

(b) （續）

部分承擔可能因短期及低價值租賃而獲豁免，而部分承擔因根據香港財務報告準則第16號不合資格作為租賃而可能須調整。

本集團採納之日期

於二零一九年一月一日或之後開始之財政年度強制執行。現階段本集團無意於生效日期前採用該準則。本集團擬應用簡化過渡方法，並將不會重列首次採用前之年度的比較數字。

除上述香港財務報告準則第16 號外，本集團董事正評估採納上述新訂準則及修訂準則的財務影響。本集團董事將於新訂準則及修訂準則生效後採納。

3.1 會計政策變動

下文闡釋採納香港財務報告準則第9號「金融工具」及香港財務報告準則第15號「來自客戶之合約收益」對本集團財務資料的影響，並披露自二零一八年四月一日起應用的新會計政策（倘其與過往期間所應用者不同）。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策 （續）

(Continued)

3.1 Changes in accounting policies (Continued)

3.1 會計政策變動 （續）

(a) Impact on financial information

(a) 對財務資料的影響

The Group elected to adopt HKFRS 9 and HKFRS 15 without restating comparative information. The reclassifications and the adjustments are therefore not reflected in the consolidated balance sheet as at 31 March 2018, but are recognised in the opening of the condensed interim consolidated statement of financial position on 1 April 2018.

本集團選擇採納香港財務報告準則第9號及香港財務報告準則第15號，但並無重列比較資料。因此，重新分類及調整並無於二零一八年三月三十一日合併資產負債表中反映，惟於二零一八年四月一日的期初簡明中期合併財務狀況表中確認。

The following tables show the adjustments recognised for each individual line item. Line items that were not affected by the changes have not been included. As a result, the sub-totals and totals disclosed cannot be recalculated from the numbers provided. The adjustments are explained in more detail by standard below.

下表列示就每個個別項目確認之調整。概無包括並無受變動影響之個別項目。因此，所披露小計及總計金額無法透過所提供數字重新計算。有關調整按以下準則詳細說明。

Condensed consolidated interim statement of financial position (extract) 簡明合併中期財務狀況表（摘錄） Current assets	流動資產	Audited 經審核 31 March 2018 於二零一八年三月三十一日 As originally presented 按原先呈列 HK$’000 千港元	Unaudited 未經審核 1 April 2018 於二零一八年四月一日 Effects of the adoption of HKFRS 9 Restated 採納香港財務報告準則第9號之影響經重列 HK$’000 HK$’000 千港元千港元
Held-to-maturity investments	持至到期投資	15,000	(15,000) –
Other financial assets at	按攤銷成本列賬之
amortised cost	其他金融資產	–	15,000 15,000

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES (Continued)

3.1 Changes in accounting policies (Continued)

(b) HKFRS 9 Financial Instruments – Impact on adoption

HKFRS 9 replaces the provisions of HKAS 39 that relate to the recognition, classification and measurement of financial assets and financial liabilities derecognition of financial instruments, impairment of financial assets and hedge accounting.

The adoption of HKFRS 9 Financial Instruments from 1 April 2018 resulted in changes in accounting policies. The new accounting policies are set out in Note 3.1 (c) below.

(i) Classification and measurement

On 1 April 2018 (the date of initial application of HKFRS 9), 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 HKFRS 9 categories. The Group elected to classify its held-to-maturity investments as other financial assets at amortised cost.

3 主要會計政策（續）

3.1 會計政策變動（續）

(b) 香港財務報告準則第9號金融工具－採納的影響

香港財務報告準則第9號取代了香港會計準則第39號關於金融資產和金融負債之確認、分類與計量、金融工具終止確認、金融資產減值與對沖會計處理之相關規定。

自二零一八年四月一日起所採納的香港財務報告準則第 9 號金融工具導致會計政策之變動。新會計政策載於下文附註 3.1(c)。

(i) 分類及計量

於二零一八年四月一日（即初始應用香港財務報告準則第9號的日期），本集團管理層已評估應用於本集團所持有金融資產的業務模式並已將金融工具分類至香港財務報告準則第 9 號恰當的類別內。本集團選擇將其持至到期投資分類為按攤銷成本列賬之其他金融資產。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES (Continued)

3 主要會計政策 （續）

3.1 Changes in accounting policies (Continued) 3.1 會計政策變動 （續） (b) HKFRS 9 Financial Instruments – Impact on (b) 香港財務報告準則第9號金融工 adoption (Continued) 具－採納的影響 （續） (i) Classification and measurement (i) 分類及計量（續）

(i) Classification and measurement (Continued) The impact of the reclassification is as follows:

重新分類的影響如下：

		Unaudited 未經審核 Held-to-maturity investments Other financial assets at amortised cost 持至到期投資按攤銷成本列賬之其他金融資產 HK$’000 HK$’000 千港元千港元	Unaudited 未經審核 Held-to-maturity investments Other financial assets at amortised cost 持至到期投資按攤銷成本列賬之其他金融資產 HK$’000 HK$’000 千港元千港元
Closing balance	於二零一八年
31 March 2018 – HKAS 39	三月三十一日的
	期末結餘 –香港會計
	準則第39號	15,000	–
Reclassify held-to-maturity	將持至到期投資重新
investments to other financial	分類為按攤銷成本
assets at amortised cost	列賬之其他金融資產	(15,000)	15,000
Opening balance	於二零一八年四月一日
1 April 2018 – HKFRS 9	之期初結餘–香港
	財務報告準則第9號	–	15,000

(ii) Impairment of financial assets (ii) 金融資產減值 The Group has three type of financial 本集團持有以下三種在香 assets that is subject to HKFRS 9’s new 港財務報告準則第9號新 expected credit loss model. 預期信貸虧損模型之適用範圍內的金融資產：

• Trade receivables • 貿易應收款項 • Other receivables • 其他應收款項 • Other financial assets at amortised • 按攤銷成本列賬之 cost 其他金融資產

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策（續）

(Continued)

3.1 Changes in accounting policies (Continued)

(b) HKFRS 9 Financial Instruments – Impact on adoption (Continued)

(ii) Impairment of financial assets (Continued)

The Group was required to revise its impairment methodology under HKFRS 9 for each class of 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 customers past settlement pattern, existing market condition.

While cash and cash equivalents are also subject to the impairment requirements of HKFRS 9, the identified impairment loss was immaterial.

Trade receivables

The Group applies the HKFRS 9 simplified approach to measuring expected credit losses (“ECL”) which permits the uses of the lifetime expected loss allowance for all trade receivables.

To measure the expected credit losses, trade receivables have been grouped based on shared credit risk characteristics and the days past due. The Group assessed that there was no significant financial impact upon the initial adoption of the standard.

3.1 會計政策變動（續）

(b) 香港財務報告準則第9號金融工具－採納的影響（續）

(ii) 金融資產減值（續）

本集團須按照香港財務報告準則第9號就各類資產修訂其減值方式。

金融資產乃根據有關違約風險及預期虧損率的假設計提虧損撥備。本集團於作出該等假設時行使判斷，並根據客戶過往結算模式及現行市場狀況選擇用於減值計算的輸入數據。

儘管現金及現金等值項目亦須遵守香港財務報告準則第 9 號的減值規定，惟已識別的減值虧損並不重大。

貿易應收款項

本集團採用香港財務報告準則第9號簡化方法計量預期信貸虧損（「預期信貸虧損」），該方法允許為所有貿易應收款項使用整個全期預期的虧損撥備。

為計量預期信貸虧損，貿易應收款項已按照共同的信貸風險特徵和逾期天數分組。本集團的評估，初始採納該準則不會產生重大財務影響。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES 3 主要會計政策 （續） (Continued)

3.1 Changes in accounting policies (Continued)

3.1 會計政策變動 （續）
(b) HKFRS 9 Financial Instruments – Impact on adoption (Continued)
(b) 香港財務報告準則第9號金融工具－採納的影響 （續）

(ii) Impairment of financial assets (Continued)

Other receivables

The loss allowance for other receivables as a result of applying the expected credit risk model was immaterial.

(ii) 金融資產減值（續）

其他應收款項

應用預期信貸風險模式產生的其他應收款項的虧損撥備並不重大。

Other financial assets at amortised cost

All of the Group’s other financial assets at amortised cost are considered to have low credit risk, and hence the loss allowance as a result of applying the expected credit risk model was immaterial.

按攤銷成本列賬之其他金融資產

本集團所有按攤銷成本列賬之其他金融資產被視為具低信貸風險，及因此應用預期信貸風險模式產生的虧損撥備並不重大。

(c) HKFRS 9 Financial Instruments – Accounting policies applied from 1 April 2018

(c) 香港財務報告準則第9號金融工具－於二零一八年四月一日起應用的會計政策

(i) Classification From 1 April 2018, the Group classifies its financial assets in the following measurement categories:

(i) 分類自二零一八年四月一日起，本集團按以下計量類別對金融資產進行分類：

those to be measured subsequently at fair value (either through other comprehensive income, or through profit or loss), and
其後以公允價值計量（計入其他全面收入或損益）；及
those to be measured at amortised • 按攤銷成本計量。 cost.

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES (Continued)

3.1 Changes in accounting policies (Continued)

(c) HKFRS 9 Financial Instruments – Accounting policies applied from 1 April 2018 (Continued)

(i) Classification (Continued)

The classification depends on the entity’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 other comprehensive income. 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 the comprehensive income (“FVOCI”).

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

(ii) 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 (“FVTPL”), transaction costs that are directly attributable to the acquisition of the financial asset. Transaction costs of financial assets carried at FVTPL are expensed in profit or loss.

3 主要會計政策（續）

3.1 會計政策變動（續）

(c) 香港財務報告準則第9號金融工具－於二零一八年四月一日起應用的會計政策 （續）

(i) 分類（續）

該分類取決於實體管理金融資產之業務模式以及現金流量的合約條款。

對於以公允價值計量之資產，其盈虧將計入損益或其他全面收入。對於並非持作交易之權益工具投資而言，其將取決於本集團在初始確認時是否作出不可撤銷之選擇而將其指定為按公允價值計入其他全面收入（「按公允價值計入其他全面收入」））。

僅當管理該等資產之業務模式發生變化時，本集團方會對債務投資進行重新分類。

(ii) 計量

於初始確認時，本集團按公允價值加上（倘金融資產並非按公允價值計入損益（「按公允價值計入損益」））可直接歸屬於收購該項金融資產之交易費用計量金融資產。公允價值計入損益之金融資產之交易費用於損益支銷。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策（續）

(Continued)

3.1 Changes in accounting policies (Continued)

(c) HKFRS 9 Financial Instruments – Accounting policies applied from 1 April 2018 (Continued)

(ii) Measurement (Continued)

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. Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortised cost. 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 gains/(losses) – net, together with foreign exchange gains and losses.

Equity investments

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 the profit or loss, there is no subsequent reclassification of fair value gains and losses to other comprehensive income 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.

3.1 會計政策變動（續）

(c) 香港財務報告準則第9號金融工具－於二零一八年四月一日起應用的會計政策 （續）

(ii) 計量（續）債務工具

債務工具之後續計量取決於本集團管理該資產之業務模式以及該資產之現金流量特徵。對於持有以收取合約現金流量而該現金流量僅代表對本金和利息之支付之資產而言，該資產則以攤銷成本計量。該等金融資產之利息收入以實際利率法計算，計入融資收入。終止確認時產生之任何盈虧直接於損益確認，並與匯兌盈虧一同呈列在其他收益╱（虧損）－淨額中。

權益投資

本集團以公允價值對所有權益投資進行後續計量。倘本集團管理層選擇將權益投資之公允價值盈虧計入損益，則當終止確認該投資後，不會將公允價值盈虧重新分類至其他全面收入。有關投資之股息繼續於本集團確立收取股息之權利時於損益確認為其他收入。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策（續）

(Continued)

3.1 Changes in accounting policies (Continued)

(c) HKFRS 9 Financial Instruments – Accounting policies applied from 1 April 2018 (Continued)

(ii) Measurement (Continued) Equity investments (Continued)

Changes in the fair value of financial assets at FVTPL are recognised in “other gains/ (losses) – net” in the condensed interim consolidated statement of comprehensive income as applicable. Impairment losses (and reversal of impairment losses) on equity investments measured in FVOCI are not reported separately from other changes in fair value.

(iii) Impairment

From 1 April 2018, the Group assesses on a forward looking basis the expected credit losses associated with its debt instruments carried at amortised cost. The impairment methodology applied depends on whether there has been a significant increase in credit risk.

For trade and other receivables, the Group applies the simplified approach permitted by HKFRS 9, which requires expected lifetime losses to be recognised from initial recognition of the receivables.

(d) HKFRS 15 Revenue from Contracts with Customers – Impact of adoption

HKFRS 15 replaces the provision of HKAS 18 which resulted in changes in accounting policies that relate to timing of revenue recognition and presentations of contract liabilities.

3.1 會計政策變動 （續）
(c) 香港財務報告準則第9號金融工具－於二零一八年四月一日起應用的會計政策 （續）

(ii) 計量（續）

權益投資（續）

對於按公允價值計入損益之金融資產，其公允價值變動於簡明中期合併綜合收益表（如適用）之「其他收益╱（虧損）－淨額」內呈列。對於按公允價值計入其他全面收入之權益投資而言，其減值虧損（以及減值虧損撥回）不會獨立於其他公允價值變動而呈報。

(iii) 減值

自二零一八年四月一日起，對於以攤銷成本計量之債務工具而言，本集團就其預期信貸虧損作出前瞻性評估。所應用減值方法取決於其信用風險是否顯著增加。

對於貿易及其他應收款項而言，本集團採用香港財務報告準則第9號允許之簡化方法，該準則規定於初始確認應收賬款時確認預期全期虧損。

(d) 香港財務報告準則第15號來自客戶之合約收益－採納的影響

香港財務報告準則第15號替代香港會計準則第18號之規定，導致有關收入確認時間及合約負債呈列之會計政策有所變動。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES (Continued)

3.1 Changes in accounting policies (Continued)
(d) HKFRS 15 Revenue from Contracts with Customers – Impact of adoption (Continued)

The Group has adopted HKFS 15 from 1 April 2018 which resulted in changes in accounting policies and adjustments to the amounts recognised in the financial statements. In accordance with the transition provision in HKFRS 15, the Group elected to use a modified retrospective approach which allows the Group to recognise the accumulative effects of initially applying HKFRS 15 as an adjustment to the opening balance of retained earnings on 1 April 2018. Thus the comparative figures have not been restated.

The impacts of the adoption of HKFRS 15 are as follows:

Timing difference of revenue recognition

The adoption of HKFRS 15 does not have a significant impact on when the Group recognise revenue from sales of goods.

Presentation of contract liabilities

“Advanced receipt from customers” which were previously included in accruals and other payables, amounting to HK$7,945,000 as at 1 April 2018, are now included under contract liabilities to reflect the terminology of HKFRS 15.

Financing components

The Group does not expect to have any contracts where the period between the transfer of the promised goods or services to the customer and payment by the customer exceeds one year. As a consequence, the Group does not adjust any of the transaction prices for the time value of money.

3 主要會計政策 （續）

3.1 會計政策變動 （續）
(d) 香港財務報告準則第15號來自客戶之合約收益－採納的影響
（續）

本集團已自二零一八年四月一日起採納香港財務報告準則第 15號，導致會計政策出現變動，並須對財務報表內之確認金額作出調整。根據香港財務報告準則第15號之過渡條文，本集團選擇採用經修改追溯法，從而令本集團可將初次應用香港財務報告準則第15號之累計影響確認為對於二零一八年四月一日保留盈利期初結餘之調整，因此並無對比較數字進行重列。

採納香港財務報告準則第15號的影響如下：

收入確認之時間差異

採納香港財務報告準則第15號並無對本集團確認銷售貨品收入造成重大影響。

合約負債的呈列

之前計入應計費用及其他應付款項的「預收客戶款項」（於二零一八年四月一日為7,945,000 港元）現計入合約負債項下以反映香港財務報告準則第15號的術語。

融資部份

本集團預期概無於向客戶轉移所承諾貨品或服務至客戶付款超過一年期間之合約。因此，本集團並無就貨幣時間價值對任何交易價格作出調整。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION

簡明中期合併財務資料附註

4 ESTIMATES

The preparation of condensed interim consolidated financial information requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. In preparing this condensed consolidated interim financial information, the significant judgements made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were similar to those that were applied to the consolidated financial statements for the year ended 31 March 2018, except for impairment of financial assets (disclosed in note 3.1b(ii)).

5 FINANCIAL RISK MANAGEMENT

(a) Financial risk factors

The Group’s activities expose it to a variety of financial risks: market risk (including foreign exchange risk and interest rate risk), credit risk and liquidity risk.

The condensed interim consolidated financial information does not include all financial risk management information and disclosures required in the annual financial statements, and should be read in conjunction with the Group’s consolidated financial statements for the year ended 31 March 2018.

(b) Liquidity risk

As at 31 March 2018 and 30 September 2018, there was no material change in the contractual undiscounted cash outflows for financial liabilities.

4 估計

於編製簡明中期合併財務資料時，管理層需要作出判斷、估計及假設，而此舉影響會計政策之應用及所呈報資產及負債、收入及開支之金額。實際結果可能有別於該等估計。於編製本簡明合併中期財務資料時，管理層就應用本集團會計政策所作重大判斷及估計不明朗因素主要來源與截至二零一八年三月三十一日止年度合併財務報表適用者相若，惟金融資產減值（誠如附註3.1b(ii)所披露）除外。

5 財務風險管理

(a) 財務風險因素

本集團經營活動面對各種財務風險：市場風險（包括外匯風險及利率風險）、信貸風險及流動資金風險。

簡明中期合併財務資料並不包括年度財務報表所要求的所有財務風險管理資料及披露；閱讀簡明中期合併財務資料時，應一併細閱本集團截至二零一八年三月三十一日止年度的合併財務報表。

(b) 流動資金風險

於二零一八年三月三十一日及二零一八年九月三十日，財務負債的合約未折現現金流出並無重大變動。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

5 FINANCIAL RISK MANAGEMENT (Continued)

(c) Fair value estimation

The carrying amounts of the Group’s current financial assets, including cash and cash equivalents, trade receivables, other receivables and amounts due from related companies, current financial liabilities, including trade payables, other payables, amounts due to related companies and directors, obligations under finance leases and borrowings approximate their fair values due to their short maturities, and non-current liabilities, including obligations under finance leases and borrowings as their interest rates approximate market interest rates.

The fair value of financial liabilities for disclosure purposes is estimated by discounting the future contractual cash flows at the current market interest rate that is available to the Group for similar financial instruments.

The table below analyses the Group’s financial instrument carried at fair value as at 30 September 2018 and 31 March 2018 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).

5 財務風險管理（續）

(c) 公允價值估計

本集團之流動金融資產（包括現金及現金等值項目、貿易應收款項、其他應收款項及應收關連公司款項）、流動金融負債（包括貿易應付款項、其他應付款項及應付關連公司及董事款項）、融資租賃項下責任及借貸之賬面值與彼等之公允價值相若，原因是其期限較短，而非流動負債（包括融資租賃項下責任及借貸）方面，則由於其利率與市場利率相若。

就披露目的而言，金融負債之公允價值乃按未來合約現金流量以本集團就類似金融工具可得的現有市場利率折現估算。

下表按計量公允價值之估值技術所用輸入數據的層級，分析本集團於二零一八年九月三十日及二零一八年三月三十一日按公允價值列賬之金融工具。有關輸入數據乃按下文所述而分類歸入公允價值架構內的三個層級：

相同資產或負債於活躍市場的報價（未經調整）
（第一級）。
除第一級所包括的報價外，該資產或負債可直接
（即價格）或間接（自價格衍生）觀察的輸入數據
（第二級）。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION

簡明中期合併財務資料附註

5 FINANCIAL RISK MANAGEMENT

5 財務風險管理（續）

(Continued)

(c) Fair value estimation (Continued)

(c) 公允價值估計（續）

Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3).
資產或負債並非依據可觀察市場數據的輸入數據
（即不可觀察輸入數據）（第三級）。

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----- Start of picture text -----

As at 30 September 2018
於二零一八年九月三十日
Level 1 Level 2 Level 3 Total
第一級第二級第三級總計
HK$’000 HK$’000 HK$’000 HK$’000
千港元千港元千港元千港元
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
（未經審核）（未經審核）（未經審核）（未經審核）
Assets 資產
Financial assets 透過損益按公允
at fair value through 價值列賬之
profit or loss 金融資產 5,605 – – 5,605
----- End of picture text -----

==> picture [330 x 86] intentionally omitted <==

----- Start of picture text -----

As at 31 March 2018
於二零一八年三月三十一日
Level 1 Level 2 Level 3 Total
第一級第二級第三級總計
HK$’000 HK$’000 HK$’000 HK$’000
千港元千港元千港元千港元
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
（未經審核）（未經審核）（未經審核）（未經審核）
----- End of picture text -----

Assets 資產 Financial assets 透過損益按公允 at fair value through 價值列賬之 profit or loss 金融資產 – – 12,746 12,746

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

5 FINANCIAL RISK MANAGEMENT 5 財務風險管理（續）

(Continued)

(c) Fair value estimation (Continued)

(c) 公允價值估計 （續）

Financial instrument in level 3

第三級金融工具

The following table presents the changes in 下表呈列截至二零一八年九月 level 3 instruments for the six months ended 三十日止六個月第三級工具之 30 September 2018. 變動。

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----- Start of picture text -----

2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
As at 1 April 於四月一日 12,746 12,319
Gains recognised in profit or loss 於損益中確認的收益 91 193
Redemption 贖回 (12,837) –
As at 30 September 於九月三十日 – 12,512
Total gains for the period included 就期末持有之資產計入損益
in profit or loss for assets 之期內收益總額，
held at the end of the period, 列作「其他收益╱（虧損）
under “Other gains/(losses) – net” －淨額」 – 193
Changes in unrealised gains 於期末計入損益之年內
for the year included in profit or loss 未變現收益變動
at the end of the period – 193
----- End of picture text -----

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION

簡明中期合併財務資料附註

6 SEGMENT INFORMATION

The chief operating decision-maker has been identified as the executive directors of the Company. The chief operating decision-maker has determined the operating segments based on the reports approved by the board (the “Board”) of directors of the Company (the “Directors”), that are used to make strategic decisions and assess performance.

The chief operating decision-maker has determined the operating segments based on these reports. The Group is organised into two business segments:

(a) paper printing segment (mainly derived from the brand “e-print”); and
(b) banner printing segment (mainly derived from the brand “e-banner”).

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-marker.

Management assesses the performance of the operating segments based on a measure of gross profit less distribution costs, administrative and selling expenses, and other operating expenses that are allocated to each segment. Other information provided is measured in a manner consistent with that in the financial statements.

Sales between segments are carried out at arm’s length basis.

The subsidiary incorporated in the People’s Republic of China (the “PRC”) provides information technology (“I.T.”) support services within the Group. The subsidiaries incorporated in Malaysia and Australia generated immaterial external revenue during the period. Since the Group mainly operates in Hong Kong and the Group’s assets are mainly located in Hong Kong, no geographical segment information is presented.

6 分部資料

本公司之執行董事被視為主要經營決策者。主要經營決策者已根據本公司董事（「董事」）會（「董事會」）批准並用於作策略決定及評估表現之報告釐定經營分部。

主要經營決策者已根據該等報告釐定經營分部。本集團排列出兩類業務分部：

(a) 紙品印刷分部（主要源於「e-print 」品牌）；及
(b) 噴畫印刷分部（主要源於「e-banner 」品牌）。

經營分部以向主要經營決策者提供內部呈報一致的形式呈報。

管理層根據毛利減分配至各分部之分銷成本、行政及銷售支出以及其他經營支出評估經營分部表現。所提供的其他資料之計量方式與財務報表一致。

分部間之銷售乃按公平基準進行。

於中華人民共和國（「中國」）註冊成立的附屬公司在本集團內部提供資訊科技（「資訊科技」）支援服務。於馬來西亞及澳洲註冊成立的附屬公司於期內產生少量外部收入。由於本集團主要於香港營運且本集團的資產主要位於香港，概無地理分部資料呈列。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

6 SEGMENT INFORMATION (Continued)

6 分部資料（續）

During the six months ended 30 September 2018 於截至二零一八年及二零一七 and 2017, no external customers contributed over 年九月三十日止六個月，概無 10% of the Group’s revenue. 外部客戶貢獻超過本集團收益的10%。

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For the six months ended 30 September 2018
截至二零一八年九月三十日止六個月
Paper Banner
printing printing Eliminations Total
紙品印刷噴畫印刷抵銷總額
HK$’000 HK$’000 HK$’000 HK$’000
千港元千港元千港元千港元
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
（未經審核）（未經審核）（未經審核）（未經審核）
Segment revenue 分部收益
Revenue from external 來自外部客戶收益
customers 158,168 46,621 – 204,789
Inter-segment revenue 分部間收益 140 28 (168) –
Total 總額 158,308 46,649 (168) 204,789
Segment results 分部業績 11,915 974 12,889
Finance income 融資收入 446
Finance costs 融資成本 (393)
Share of profit of 應佔合營企業溢利
a joint venture 1,047
Share of losses of associates 應佔聯營公司虧損 (578)
Profit before income tax 除所得稅前溢利 13,411
Income tax expense 所得稅開支 (1,898)
Profit for the period 期內溢利 11,513
Depreciation of property, 物業、廠房及
plant and equipment 設備折舊 5,617 3,429 – 9,046
Capital expenditure 資本開支 2,542 1,381 – 3,923
----- End of picture text -----

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

6 SEGMENT INFORMATION (Continued)

6 分部資料（續）

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For the six months ended 30 September 2017
截至二零一七年九月三十日止六個月
Paper Banner
printing printing Eliminations Total
紙品印刷噴畫印刷抵銷總額
HK$’000 HK$’000 HK$’000 HK$’000
千港元千港元千港元千港元
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
（未經審核）（未經審核）（未經審核）（未經審核）
----- End of picture text -----

Segment revenue 分部收益 Revenue from external customers 來自外部客戶收益 155,975 42,629 – Inter-segment revenue 分部間收益 216 21 (237)	198,604 –
Total 總額 156,191 42,650 (237)	198,604
Segment results 分部業績 12,871 (1,401) Finance income 融資收入 Finance costs 融資成本 Share of profit of a joint venture 應佔合營企業溢利 Share of losses of associates 應佔聯營公司虧損 Profit before income tax 除所得稅前溢利 Income tax expense 所得稅開支 Profit for the period 期內溢利 Depreciation of property, plant and equipment 物業、廠房及設備折舊 5,898 3,365 Amortisation of intangible assets 無形資產攤銷 – 215 Impairment loss on property, plant and equipment 物業、廠房及設備減值虧損 – (5) Capital expenditure 資本開支 415 222	11,470 222 (813) 512 130
	11,521 (2,352)
	9,169
	9,263 215 (5) 637

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

6 SEGMENT INFORMATION (Continued) 6 分部資料（續）

The following tables present segment assets as at 30 September 2018 and 31 March 2018 respectively.

下表載列分別於二零一八年九月三十日及二零一八年三月三十一日之分部資產。

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As at 30 September 2018
於二零一八年九月三十日
Paper printing Banner printing Total
紙品印刷噴畫印刷總計
HK$’000 HK$’000 HK$’000
千港元千港元千港元
(Unaudited) (Unaudited) (Unaudited)
（未經審核）（未經審核）（未經審核）
Segment assets 分部資產 170,460 44,717 215,177
As at 31 March 2018
於二零一八年三月三十一日
Paper printing Banner printing Total
紙品印刷噴畫印刷總計
HK$’000 HK$’000 HK$’000
千港元千港元千港元
(Unaudited) (Unaudited) (Unaudited)
（未經審核）（未經審核）（未經審核）
Segment assets 分部資產 156,719 48,919 205,638
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Segment assets for banner printing segment mainly represented property, plant and equipment and goodwill amounting to HK$32,130,000 (31 March 2018: HK$34,871,000) and HK$725,000 (31 March 2018: HK$725,000).

噴畫印刷分部的分部資產主要指金額為 32,130,000 港元（二零一八年三月三十一日： 34,871,000港元）及725,000港元（二零一八年三月三十一日： 725,000港元）的物業、廠房及設備以及商譽。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

6 SEGMENT INFORMATION (Continued)

6 分部資料 （續）

A reconciliation of segment assets to total assets is provided as follows:

分部資產與資產總額對賬如下：

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
Segment assets 分部資產 215,177 205,638
Investments in associates 聯營公司的投資 2,207 2,977
Investment in a joint venture 合營企業的投資 8,434 8,021
Cash and cash equivalents 現金及現金等值項目 73,502 89,524
Other unallocated segment assets 其他未分配分部資產 – 4,997
Total assets 資產總額 299,320 311,157
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7 OPERATING PROFIT

7 營運溢利

Operating profit is stated after (charging)/ crediting the following:

營運溢利於（扣除）╱計入以下各項後呈列：

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Depreciation of property, 物業、廠房及設備折舊
plant and equipment (9,046) (9,263)
Recovery of trade receivables 收回先前撇銷的貿易應收款項
previously written off 12 12
Gain/(loss) on disposal of property, 出售物業、廠房及設備
plant and equipment 收益╱（虧損） 40 (4,257)
Loss on disposal of interest in 出售一間聯營公司權益虧損
an associate – (111)
Net exchange gain/(loss) 匯兌收益╱（虧損）淨額 752 (66)
Interest income from 非上市債券證券之利息收入
unlisted bonds securities 559 782
Cost of materials 材料成本 (24,983) (26,378)
Subcontracting fee 外判費用 (75,107) (68,409)
Operating lease rental of premises 物業及設備的經營租賃租金
and equipment (10,590) (10,126)
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Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

8 FINANCE INCOME/(COSTS) – NET 8 融資收入╱（成本）－淨額

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Finance income 融資收入
Interest income from bank deposits 銀行存款利息收入 435 222
Interest income from loan 貸款利息收入 11 –
446 222
Finance costs 融資成本
Finance charge on obligations 有關融資租賃項下責任的
under finance lease 融資費用 (111) (222)
Interest expenses on borrowings 借貸利息開支 (282) (591)
(393) (813)
Finance income/(costs) – net 融資收入╱（成本）－淨額 53 (591)
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eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

9 INCOME TAX EXPENSE

9 所得稅開支

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Current income tax 當期所得稅
– Hong Kong profits tax －香港利得稅 2,085 3,224
– PRC corporate income tax －中國企業所得稅 10 144
(Over)/under provision in prior years 過往年度（超額撥備）╱
撥備不足 (203) 16
Deferred income tax 遞延所得稅 6 (1,032)
Income tax expense 所得稅開支 1,898 2,352
----- End of picture text -----

Taxation on profits has been calculated on the estimated assessable profits for the six months ended 30 September 2018 at the rates of taxation prevailing in the countries/places in which the Group operates. Income tax expense is recognised based on management’s estimate of the weighted average annual income tax rate expected for the full financial year.

溢利稅項已就截至二零一八年九月三十日止六個月的估計應課稅溢利按本集團經營業務所在國家╱地區的現行稅率計算。所得稅開支乃基於管理層對完整財政年度的預期加權平均年度所得稅率的估計確認。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

10 EARNINGS PER SHARE

10 每股盈利

(a) Basic

(a) 基本

Basic earnings per share is calculated by dividing the profit attributable to equity holders of the Company by the weighted average number of ordinary shares in issue for the six months ended 30 September 2017 and 2018.

每股基本盈利乃根據本公司權益持有人應佔溢利除以截至二零一七年及二零一八年九月三十日止六個月已發行普通股加權平均數計算。

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Profit attributable to the equity holders 本公司權益持有人應佔溢利
of the Company (HK$’000) （千港元） 11,456 10,063
Weighted average number of 已發行普通股加權平均數
ordinary shares in issue (thousands) （千股） 550,000 550,000
Basic earnings per share (HK cents) 每股基本盈利（港仙） 2.08 1.83
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(b) Diluted

(b) 攤薄

For the six months ended 30 September 2018 and 2017, diluted earnings per share is the same as the basic earnings per share as there was no dilutive potential ordinary shares.

截至二零一八年及二零一七年九月三十日止六個月，由於並無潛在攤薄普通股，每股攤薄盈利與每股基本盈利相同。

11 DIVIDENDS

11 股息

A dividend of HK$13,200,000 that relates to the year ended 31 March 2018 was paid in September 2018 (2017: HK$8,800,000).

於二零一八年九月已支付截至二零一八年三月三十一日止年度之股息13,200,000港元（二零一七年：8,800,000港元）。

The Board resolved not to declare an interim dividend for the six months ended 30 September 2018 (2017: Nil).

董事會決議不宣派截至二零一八年九月三十日止六個月之中期股息（二零一七年：無）。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

12 PROPERTY, PLANT AND EQUIPMENT

12 物業、廠房及設備

During the six months ended 30 September 2018, the Group acquired assets with a cost of HK$3,923,000 (six months ended 30 September 2017: HK$637,000).

截至二零一八年九月三十日止六個月，本集團購入的資產，按成本計為3,923,000港元（截至二零一七年九月三十日止六個月：637,000港元）。

13 OTHER FINANCIAL ASSETS AT 13 按攤銷成本列賬之其他金 AMORTISED COST 融資產

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Unlisted bond securities 非上市債券證券 15,000 –
Loan receivable 應收貸款 10,011 –
–
25,011
----- End of picture text -----

As at 1 April 2018, the unlisted bond securities was reclassified from held-to-maturity investments to other financial assets at amortised cost according to the newly effective accounting standard. Details of the reclassification are disclosed in Note 3.1(b).

於二零一八年四月一日，非上市債券證券已根據新生效之會計準則由持至到期投資重新分類至按攤銷成本列賬之其他金融資產。重新分類之詳情於附註3.1(b)披露。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

13 OTHER FINANCIAL ASSETS AT AMORTISED COST (Continued)

On 27 September 2018, the indirectly whollyowned subsidiary of the Company entered into a loan arrangement with the third party borrower. The principal amount of the loan is HK$10,000,000.

There were no impairment provision for the unlisted bond securities and loan receivable as at 30 September 2018 and 2017.

The fair values of unlisted securities are based on cash flows discounted using a rate based on the market interest rate and the risk premium specific to the unlisted securities at 8% for the six months ended 30 September 2018 (for the year ended 31 March 2018: 9%).

Both the unlisted bond securities and loan receivable are dominated in Hong Kong dollar as at 30 September 2018 and 31 March 2018.

The maximum exposure to credit risk at the reporting date is the carrying value of the unlisted bond securities and loan receivable. None of these financial assets is either past due or impaired.

13 按攤銷成本列賬之其他金融資產（續）

於二零一八年九月二十七日，本公司之間接全資附屬公司與第三方借款人訂立貸款協議。該貸款之本金額為10,000,000 港元。

於二零一八年及二零一七年九月三十日，並未對非上市債券證券及應收貸款作出減值撥備。

截至二零一八年九月三十日止六個月，非上市證券的公允價值乃根據採用基於市場利率及非上市證券的特定風險溢價的比率8%（截至二零一八年三月三十一日止年度：9% ）貼現的現金流量計算。

於二零一八年九月三十日及二零一八年三月三十一日，非上市債券證券及應收貸款均以港元計值。

於報告日期最大信貸風險為非上市債券證券及應收貸款的賬面值。該等金融資產並無逾期或減值。

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

14 FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

14 透過損益按公允價值列賬之金融資產

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Insurance policy investment 保單投資 – 12,746
Listed equity investment 上市股本投資 5,605 –
5,605 12,746
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The insurance policy investment is an insurance contract provided to a director with underlying investment on a capital fund. The investment was redeemed during the period.

保單投資為向董事提供之保險合約，屬資本資金的相關投資。該投資於期內被贖回。

The listed equity investment represents the shares issued by the company listed on the Stock Exchange.

上市股本投資指於聯交所上市的公司所發行之股份。

Financial assets at fair value through profit or loss are presented within investing activities in the condensed interim consolidated statement of cash flows.

透過損益按公允價值列賬之金融資產呈列於簡明中期合併現金流量表之投資活動內。

Changes in fair value of financial assets at fair value through profit or loss are recorded in ‘Other gains/(losses) – net’ in the condensed interim consolidated statement of comprehensive income.

透過損益按公允價值列賬之金融資產的公允價值變動載於簡明中期合併綜合收益表「其他收益╱（虧損）－淨額」內。

The fair value of the listed equity investment is based on quoted prices (unadjusted) in active markets and is classified within level 1 of the fair value hierarchy.

上市股本投資的公允價值乃根據於活躍市場的所報價格（未經調整）計算且歸類於公允價值層級的第一級內。

The fair value of the insurance policy investment is based on the unobservable inputs and is classified within level 3 of the fair value hierarchy.

保單投資的公允價值乃根據不可觀察輸入數據計算且歸類於公允價值層級的第三級內。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

15 INVESTMENT IN A JOINT VENTURE

15 於合營企業的投資

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
At beginning of the period/year 期╱年初 8,021 6,205
Share of profit of a joint venture 應佔合營企業溢利 1,047 777
Exchange differences 匯兌差額 (634) 1,039
At end of the period/year 期╱年末 8,434 8,021
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Detail of the Group’s investment in a joint venture is as follows:

本集團於合營企業的投資詳情如下：

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Percentage of ownership interest
所有權權益百分比
Place of business/ 30 September 31 March
Name of company country of incorporation 2018 2018 Principal activities Measurement method
二零一八年二零一八年
公司名稱營業地點╱註冊成立國家九月三十日三月三十一日主要業務活動計量方法
e-print Solutions Malaysia 30% 30% Provision of printing Equity
Sdn. Bhd. services
馬來西亞提供印刷服務權益法
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eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

16 INVESTMENTS IN ASSOCIATES

16 於聯營公司的投資

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
At beginning of the period/year 期╱年初 2,977 2,962
Addition 添置 – 3
Disposal 出售 – (112)
Share of losses of associates 應佔聯營公司虧損 (578) (143)
Exchange difference 匯兌差額 (192) 267
At end of the period/year 期╱年末 2,207 2,977
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Details of the Group’s investments in associates are as follows:

本集團於聯營公司的投資詳情如下：

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Effective interest held as at
持有的實際權益
Place of business/
country of 30 September 31 March
Name of company incorporation 2018 2018 Principal activities Measurement method
二零一八年二零一八年
公司名稱營業地點╱註冊成立國家九月三十日三月三十一日主要業務活動計量方法
Shenzhen Yiyun Internet The PRC 30% 30% Provision of cloud Equity
Technology Company printing services
Limited
深圳憶雲互網通科技中國 30% 30% 提供雲印刷服務權益法
有限公司
Giant State Limited The BVI – 30% Investment holding Equity
(note) in Hong Kong
巨邦有限公司英屬處女群島 – 30% 香港投資控股權益法
（附註）
Sakura Japan Property Hong Kong 20% 20% Provision of real estate Equity
(Hong Kong) Limited agency services
櫻之不動產（香港）香港 20% – 提供房地產代理服務權益法
有限公司
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Note: During the period, e-print Trading Limited, the wholly-owned subsidiary of the Group, fully disposed its equity interests on Giant State Limited to a third party investor.

附註：於本期間，本集團之全資附屬公司 e-print Trading Limited悉數將其於巨邦有限公司之股權出售予第三方投資者。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

17 TRADE RECEIVABLES

17 貿易應收款項

The Group’s credit terms granted to customers 本集團授予印刷服務客戶的信 of printing services are mainly cash on delivery 貸條款，主要是現金交收及信 and on credit. Our average credit period offered 貸方式。授予客戶的平均信貸 to customers ranges from 30 days to 60 days. 期為30日至60日。

The ageing analysis of the trade receivables based on the invoice date is as follows:

貿易應收款項按發票日期計算的賬齡分析如下：

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Up to 30 days 不超過30日 4,648 4,977
31-60 days 31至60日 1,524 1,530
Over 60 days 超過60日 1,403 1,373
7,575 7,880
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18 SHARE CAPITAL 18 股本

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Equivalent nominal
Number of value of ordinary
ordinary shares shares
普通股數目普通股對應面值
HK$’000
千港元
Authorised: 法定：
Ordinary shares of HK$0.01 each 於二零一八年九月三十日及
as at 30 September 2018 and 二零一八年三月三十一日
31 March 2018 每股面值0.01港元之普通股 10,000,000 100,000
Issued: 已發行：
As at 30 September 2018 (Unaudited) 於二零一八年九月三十日
and 31 March 2018 （未經審核）及二零一八年
三月三十一日 550,000 5,500
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eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

19 TRADE PAYABLES

19 貿易應付款項

The ageing analysis of trade payables based on 貿易應付款項按發票日期計算 the invoice date is as follows: 的賬齡分析如下：

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Up to 30 days 不超過30日 10,122 9,720
31-60 days 31至60日 11 2,250
61-90 days 61至90日 589 916
Over 90 days 超過90日 609 –
11,331 12,886
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20 BORROWINGS 20 借貸

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Current 流動
Trust receipt loans 信託收據貸款 1,589 1,679
Bank loans 銀行貸款 522 1,035
Mortgage loans 抵押貸款 21,401 21,878
23,512 24,592
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Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

20 BORROWINGS (Continued)

20

借貸（續）

Movements in borrowings are analysed as follows:

借貸變動的分析如下：

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
At beginning of the period 期初 24,592 38,343
Increase in borrowings 借貸增加 3,012 1,439
Repayments of borrowings 償還借貸 (4,092) (11,909)
At end of the period 期末 23,512 27,873
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The weighted average effective interest rates (per annum) were as follows:

加權平均實際利率（年率）如下：

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----- Start of picture text -----

As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
(Unaudited) (Audited)
（未經審核）（經審核）
Trust receipt loans 信託收據貸款 3.93% 2.80%
Bank loans 銀行貸款 3.63% 3.50%
Mortgage loans 抵押貸款 2.25% 2.25%
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eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

21 OBLIGATIONS UNDER FINANCE LEASES

21 融資租賃項下責任

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Current portion 流動部分 3,418 5,110
Non-current portion 非流動部分 1,139 1,935
4,557 7,045
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At 30 September 2018, the Group pledged plant and machinery with a net book amount of approximately HK$7,195,000 (31 March 2018: HK$9,735,000) as collateral to secure the Group’s obligations under finance leases.

於二零一八年九月三十日，本集團將淨賬面值約7,195,000港元（二零一八年三月三十一日： 9,735,000港元）的廠房及機器作為抵押品用作抵押，以擔保本集團之融資租賃項下責任。

Movements in obligations under finance leases are analysed as follows:

融資租賃項下責任的變動分析如下：

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Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
At beginning of the period 期初 7,045 14,058
Increase in obligations 責任增加 293 –
Repayments of obligations 償還責任 (2,781) (3,956)
At end of the period 期末 4,557 10,102
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At 30 September 2018, the weighted average effective interest rate (per annum) was 3.64% (31 March 2018: 3.52%).

於二零一八年九月三十日，加權平均實際利率（年率）為 3.64%（二零一八年三月三十一日：3.52%)。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

22 COMMITMENTS 22 承擔

(a) Capital commitments (a) 資本承擔

Capital expenditure contracted for at the end of each reporting date but not provided for is as follows:

每個報告日期結束時訂有但尚未撥備的資本開支如下：

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----- Start of picture text -----

As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Property, plant and equipment 物業、廠房及設備 82 994
Investment in an associate 於一間聯營公司的投資 4,273 4,686
4,355 5,680
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(b) Operating lease commitments – Group as lessee

(b) 營運租賃承擔－本集團作為承租人

The Group leases various stores and premises under non-cancellable operating lease agreements. The lease terms are between 1 to 5 years. The future aggregate minimum lease payments are as follows:

本集團根據不可撤銷營運租賃協議租用多間店舖及處所。租賃期限由一至五年不等。未來最低租賃款項總額如下：

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As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Not later than 1 year 一年以內 13,401 19,496
Later than 1 year and not later than 一年以上，五年以下
5 years 5,722 8,498
19,123 27,994
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eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

22 COMMITMENTS (Continued)

22 承擔 （續）

(b) Operating lease commitments – Group as lessee (Continued)

(b) 營運租賃承擔－本集團作為承租人 （續）

The Group leases machinery, office equipment and billboard under non-cancellable operating lease agreements. The lease terms are between 1 to 5 years. The future aggregate minimum lease payments are as follows:

本集團根據不可撤銷經營租賃協議承租機械、辦公設備及廣告牌。租期介乎一至五年。未來應付最低租金總額如下：

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----- Start of picture text -----

As at As at
30 September 31 March
2018 2018
於二零一八年於二零一八年
九月三十日三月三十一日
HK$’000 HK$’000
千港元千港元
(Unaudited) (Audited)
（未經審核）（經審核）
Not later than 1 year 一年以內 34 36
Later than 1 year and not later than 一年以上，五年以下
5 years 30 51
64 87
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(c) Operating lease commitments – Group as (c) 營運租賃承擔－本集團作為出 lessor 租人

The Group leases out a property under non本集團根據不可撤銷營運租賃協 cancellable operating lease agreement. The lease 議出租一項物業。租賃期限為一 term is within 1 year. The future minimum lease 年內。未來應收之最低租賃款項 receipt is as follows: 如下：

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Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

23 RELATED PARTY DISCLOSURES

23 關連方披露

Parties are considered to be related to the Group if the party has the ability, directly or indirectly, to exercise control of significant influence over the Group in making financial and operating decisions, or vice versa. Related parties may be individuals (being members of key management personnel, significant shareholders and/or their close family members) or other entities and include entities which are under the significant influence of related parties of the Group where those parties are individuals. Parties are also considered to be related if they are subject to common control.

倘有關方能夠直接或間接對本集團的財務及經營決策的重大影響力行使控制權，則有關方被視為與本集團相關連，反之亦然。關連方可為個人（即主要管理成員、主要股東及╱或彼等的近親家屬成員）或其他實體，包括受本集團關連方（為個人）重大影響的實體。倘有關方受共同控制，則亦視為相關連。

The Directors are of the view that the following individuals and companies were related parties that had transactions or balances with the Group during the period:

董事認為，下列人士及公司為於期內曾與本集團進行交易或存在結餘的關連方：

Name of related party Relationship with the Group 關連方名稱與本集團的關係 Mr. Chan Kong Hung Chris Non-controlling interests of a subsidiary of the Group 陳剛雄先生本集團附屬公司的非控股權益 Mr. Foo Pei Pan Non-controlling interests of a subsidiary of the Group 傅備斌先生本集團附屬公司的非控股權益 Mr. Yau Kin Hung Non-controlling interests of a subsidiary of the Group 邱健雄先生本集團附屬公司的非控股權益 Mr. Cheng Sze Tok Non-controlling interests of a subsidiary of the Group 鄭思鐸先生本集團附屬公司的非控股權益 Ms. Wong Man Yee Non-controlling interests of a subsidiary of the Group 王敏儀女士本集團附屬公司的非控股權益

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

23 RELATED PARTY DISCLOSURES

23 關連方披露（續）

(Continued)

Name of related party Relationship with the Group 關連方名稱與本集團的關係 BSSF Group Limited Controlled by non-controlling interests of a subsidiary of the Group 由本集團附屬公司的非控股權益控制 CTP Limited Controlled by the directors of the Company 由本公司董事控制 e-print Solutions Sdn. Bhd. Joint venture of the Group 本集團的合營企業 eprint Limited Ultimate holding company (Note i) 最終控股公司（附註i） Giant State Limited Associate of the Group 巨邦有限公司本集團的聯營公司 Montana Capital Sdn Bhd Controlled by a joint venture of the Group 由本集團合營企業控制 Protoss IT Sdn Bhd Controlled by a joint venture of the Group 由本集團合營企業控制 King Profit International Limited Controlled by the directors of the Company 至利國際有限公司由本公司董事控制 Profit More Rich Limited Controlled by the directors of the Company 盈富多有限公司由本公司董事控制 Promise Properties Limited Controlled by the directors of the Company 保諾時物業有限公司由本公司董事控制 Shenzhen Yi Yun Hu Wang Tong Associate of the Group Technology Company Limited 深圳憶雲互網通科技有限公司本集團的聯營公司

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

23 RELATED PARTY DISCLOSURES

23 關連方披露（續）

(Continued)

Name of related party Relationship with the Group 關連方名稱與本集團的關係 Sakura Japan Property Associate of the Group (Hong Kong) Limited 櫻之不動產（香港）有限公司本集團的聯營公司 Sakura Global Property Limited Controlled by an associate of the Group 櫻之環球置業有限公司由本集團聯營公司控制 TBC Group Limited Non-controlling interests of a subsidiary of the Group 本集團附屬公司的非控股權益 VVV Limited Controlled by the directors of the Company 由本公司董事控制 WAB2 Group (HK) Limited Controlled by non-controlling interests of a Group’s subsidiary (Note ii) 由本集團附屬公司的非控股權益控制（附註ii） Fitness World (Group) Limited Controlled by an associate of the Group 健美天地（集團）有限公司由本集團聯營公司控制 FW (HK) In Lo Wu Development Controlled by an associate of the Group Center Limited 香港健美天地羅湖發展店由本集團聯營公司控制有限公司 Fitness World (Shenzhen) Limited Controlled by an associate of the Group 健美天地（深圳）有限公司由本集團聯營公司控制

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION

簡明中期合併財務資料附註

23 RELATED PARTY DISCLOSURES

23 關連方披露（續）

(Continued)

Notes:

i. The Company is controlled by eprint Limited, which owns 56.9% of the Company’s shares as at 31 March 2018 and 2017, and is beneficially owned by Mr. She Siu Kee William, Mr. Chong Cheuk Ki, Mr. Lam Shing Kai, Mr. Leung Wai Ming, and Mr. Leung Yat Pang. The directors consider eprint Limited, a company incorporated in the BVI, being the immediate and the ultimate holding company.
ii. Mr. Chan Kong Hung Chris, Mr. Foo Pei Pan, Mr. Cheng Sze Tok and Ms. Wong Man Yee, non-controlling interests of a subsidiary of the Group, transferred all their interests in WAB2 Group (HK) Limited to independent third parties on 31 August 2017, Since than, WAB2 Group (HK) Limited is no longer a related party.

附註：

i. 本公司由 eprint Limited控制。於二零一八年及二零一七年三月三十一日，eprint Limited擁有本公司56.9% 的股份，並由佘紹基先生、莊卓琪先生、林承佳先生、梁衞明先生及梁一鵬先生實益擁有。董事認為 eprint Limited（於英屬處女群島註冊成立之公司）為直接及最終控股公司。
ii. 於二零一七年八月三十一日，陳剛雄先生、傅備斌先生、鄭思鐸先生及王敏儀女士（本集團附屬公司的非控股權益）將彼等於 WAB2 Group (HK) Limited的所有權益轉讓予獨立第三方，其後 WAB2 Group (HK) Limited不再為關連方。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

23 RELATED PARTY DISCLOSURES 23 關連方披露 （續） (Continued) (a) Related party transactions (a) 關連方交易 Save as disclosed elsewhere in this condensed 除於本簡明合併財務資料其他地 consolidated financial information, the Group has 方所披露者外，本集團期內有以 the following related party transactions during 下關連方交易： the period:

==> picture [332 x 339] intentionally omitted <==

----- Start of picture text -----

Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Rental expense of plants 應付或已付於香港的廠房及停
and carpark in Hong Kong 車場租金開支
payable or paid
– CTP Limited －CTP Limited 2,620 2,409
– Profit More Rich Limited －盈富多有限公司 360 330
– Promise Properties Limited －保諾時物業有限公司 1,004 908
– VVV Limited －VVV Limited 1,001 1,055
– King Profit International Limited －至利國際有限公司 243 220
– WAB2 Group (HK) Limited －WAB2 Group (HK) Limited – 390
5,228 5,312
Emoluments payable or paid 應付或已付薪酬
– Mr. Chan Kong Hung Chris －陳剛雄先生 415 429
– Mr. Foo Pei Pan －傅備斌先生 415 429
– Mr. Yau Kin Hung －邱健雄先生 – 249
– Mr. Cheng Sze Tok －鄭思鐸先生 415 429
– Ms. Wong Man Yee －王敏儀女士 – 179
1,245 1,715
Expenses paid for purchase of goods 已付購買貨品開支
– e-print Solutions Sdn. Bhd. －e-print Solutions Sdn. Bhd. 4 2
----- End of picture text -----

eprint Group Limited eprint 集團有限公司

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION

簡明中期合併財務資料附註

23 RELATED PARTY DISCLOSURES

23 關連方披露 （續）

(Continued)

(a) Related party transactions (Continued)

(a) 關連方交易（續）

==> picture [332 x 312] intentionally omitted <==

----- Start of picture text -----

Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
I.T. license fee income （已退回）╱應收或已收
(refunded)/receivable or received 資訊科技許可費收入
– e-print Solutions Sdn. Bhd. －e-print Solutions Sdn. Bhd. (10) 116
Revenue from sales of goods and 應收或已收銷售貨品及
services receivable or received 服務收益
– e-print Solutions Sdn. Bhd. －e-print Solutions Sdn. Bhd. 155 –
－
– Sakura Japan Property 櫻之不動產（香港）
(Hong Kong) Limited 有限公司 83 47
– Fitness World (Group) Limited －健美天地（集團）有限公司 – 18
Rental income of store in Hong Kong 應收或已收於香港的
receivable or received 店舖租金收益
－
– Sakura Japan Property 櫻之不動產（香港）
(Hong Kong) Limited 有限公司 99 27
Management fee income 應收或已收管理費收入
receivable or received
－
– Sakura Japan Property 櫻之不動產（香港）
(Hong Kong) Limited 有限公司 75 50
----- End of picture text -----

These transactions are carried out on terms agreed with the counter-parties in the ordinary course of business.

該等交易乃按與交易對方於日常業務過程中議定的條款進行。

Interim Report 2018 二零一八年中期報告

NOTES TO THE CONDENSED INTERIM CONSOLIDATED FINANCIAL INFORMATION 簡明中期合併財務資料附註

23 RELATED PARTY DISCLOSURES

23 關連方披露（續）

(Continued)

(b) Related parties balances

(b) 關連方結餘

The amounts due from related companies, the amount due to related companies and amounts due to directors are unsecured, interest-free and repayable on demand. The fair values of these balances approximate their carrying values.

應收關連公司款項、應付關連公司款項及應付董事款項為無抵押、免息及按要求償還。該等結餘的公允價值與其賬面值相若。

(c) Compensation of key management personnel

(c) 主要管理人員薪酬

The remuneration of directors during the period 董事於期內的薪酬如下： is as follows:

==> picture [332 x 162] intentionally omitted <==

----- Start of picture text -----

Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Fees 袍金 1,200 1,110
Salaries and allowances 薪金及津貼 1,635 1,514
Performance bonuses 表現花紅 1,763 1,178
Pension costs – contributions to 退休金成本－向界定
defined contribution plans 供款計劃供款 18 18
4,616 3,820
----- End of picture text -----

56 eprint Group Limited eprint 集團有限公司

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

BUSINESS REVIEW

業務回顧

The Board presents to the Company’s shareholders the results of the Group for the six months ended 30 September 2018. The Group’s revenue amounted to HK$204.8 million, representing an increase of 3.1% as compared with that of the period ended 30 September 2017. Gross profit margin slightly decreased to 35.6% (2017: 36.5%). The Group’s unaudited profit attributable to equity holders for the six months ended 30 September 2018 was HK$11.5 million, representing an increase of 13.8% as compared with that of the period ended 30 September 2017. The increase in net profit was the result of the improving performance of banner printing segment and effective cost management.

董事會向本公司股東提呈本集團截至二零一八年九月三十日止六個月的業績。本集團收益為204,800,000港元，較截至二零一七年九月三十日止期間增加3.1%。毛利率輕微下降至 35.6%（二零一七年：36.5% ）。截至二零一八年九月三十日止六個月，本集團的權益持有人應佔未經審核溢利為11,500,000港元，較截至二零一七年九月三十日止期間增加13.8%。純利增加乃因噴畫印刷分部的表現不斷改善及有效的成本管理所致。

For the Group’s paper printing segment, the revenue increased by HK$2.2 million or 1.4% from HK$156.0 million to HK$158.2 million as a result of the improved sales of the bound book printing. Nevertheless, the gross profit slightly decreased by HK$0.4 million because of the inflating material cost, and this was also the major reason that led to the drop of operating profit of the segment of HK$1.0 million when compared with the same period of last year.

就本集團之紙品印刷分部而言，收益由 156,000,000港元增加 2,200,000 港元或1.4%至158,200,000港元，乃由於精裝圖書印刷銷售改善所致。然而，由於不斷上漲的材料成本，毛利輕微減少400,000港元，而此亦是導致該分部營運溢利較去年同期減少 1,000,000港元的主要原因。

For the Group’s banner printing segment, there was a growth in revenue of 9.4% from HK$42.6 million to HK$46.6 million. The increase in revenue was the result of the expansion of its market shares in Hong Kong during the period. The banner printing segment was also affected by the increasing material costs and subcontracting cost during the period, which led to the drop of gross profit margin by 1.4%. The operating profit of the segment was HK$1.0 million for the six months ended 30 September 2018 while it incurred the operating loss of HK$1.4 million for the six months ended 30 September 2017. The improvement was the result of the downsizing of the segment’s subsidiary which engaged in the provision of the app solution in Hong Kong, and this led to the lower operating cost of the segment during the period.

就本集團之噴畫印刷分部而言，收益由 4 2 , 6 0 0 , 0 0 0 港元增長 9 . 4 % 至 46,600,000港元。收益增長乃因期內擴大於香港的市場份額所致。噴畫印刷分部亦受期內不斷上漲的材料成本及分包成本所影響，導致毛利率下跌1.4%。截至二零一八年九月三十日止六個月，該分部的營運溢利為 1,000,000港元，而截至二零一七年九月三十日止六個月則產生營運虧損 1,400,000港元。改善乃因該分部的附屬公司（於香港從事提供應用程式解決方案）縮減規模而令該分部的期內營運成本下降所致。

Interim Report 2018 二零一八年中期報告

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

OUTLOOK

The Board expects the operating environment in Hong Kong will remain challenging in the foreseeable future. Nevertheless, the Group will continue to strive for diversifying its business, including but not limited to expanding banner printing business in Hong Kong and Malaysia, reinforcing internal controls and streamlining factory operation, and production outsourcing in order to achieve stable revenue growth for the Group. Meanwhile, the Group will proactively look for new business opportunities from time to time to strengthen its market share.

Under the leadership of the Board, the management of the Group has formed a broad consensus in response to the key improvement areas in the existing business operation and market expansion in order to further enhance the Group’s overall competitiveness. The Group will continue to strengthen its market position and increase its market share by adopting the following approaches:

Adopt the product diversification strategy by expanding the product line of the existing printing business.
Strengthen the new business line of gift products to meet the increasing demand of the market.
Continuously improve the value added services, including but not limited to the e-print app, self-service platform, phone ordering system, self checkout and collecting counters and the storage and delivery system.

展望

董事會預計香港的經營環境於可見未來仍充滿挑戰。然而，本集團仍將加倍努力多元化發展業務，包括但不限於擴大香港及馬來西亞的噴畫印刷業務、加強內部監控和精簡工廠運作、以及生產外包，使本集團達致穩定收入增長。同時，本集團將不時積極尋找新商機，以擴大其市場份額。

在董事會的領導下，本集團的管理層就應對現有業務運作及市場擴展的重要改進領域達成廣泛共識，藉以進一步增強本集團的整體競爭力。本集團將繼續透過採用以下方法鞏固其市場地位和增加市場份額：

擴充現有印刷業務的產品系列，採取產品多元化策略。
加強新的禮品業務以滿足市場日益增長的需求。
不斷提升增值服務，包括但不限於 e-print應用程式、自助平台、電話訂購系統、自助結賬及收款櫃檯、倉儲及運輸系統。

eprint Group Limited eprint 集團有限公司

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

FINANCIAL REVIEW

財務回顧

Revenue

收益

Income from the provision of printing services in Hong Kong increased by HK$6.2 million or 3.1% from HK$198.6 million for the six months ended 30 September 2017 to HK$204.8 million for the six months ended 30 September 2018. The growth was primarily due to the increasing demand on the banner printing services. The following table sets forth a breakdown of the revenue by service category and their respective percentage of the total revenue for the periods indicated.

於香港提供印刷服務所得的收入由截至二零一七年九月三十日止六個月的 198,600,000港元增加6,200,000港元或3.1%至截至二零一八年九月三十日止六個月的204,800,000港元。有關收入上升主要由於對噴畫印刷服務的需求不斷增加所致。下表載列按服務類別劃分的收益明細及其各自佔於所示期間的總收益百分比。

==> picture [354 x 150] intentionally omitted <==

----- Start of picture text -----

2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
(Unaudited) (Unaudited)
（未經審核）（未經審核）
Advertising printing 廣告印刷 64,612 31.6% 63,899 32.2%
Bound book printing 精裝圖書印刷 46,827 22.9% 44,995 22.7%
Stationery printing 文具印刷 40,242 19.6% 41,024 20.7%
Banner printing 噴畫印刷 40,800 19.9% 38,033 19.1%
Other services 其他服務 12,308 6.0% 10,653 5.3%
Total 總計 204,789 100% 198,604 100%
----- End of picture text -----

The contribution to the sales mix by the banner printing category increased from 19.1% for six months ended 30 September 2017 to 19.9% for six months ended 30 September 2018, while the advertising printing remained our major sources of revenue which accounted for 31.6% and 32.2% of our total revenue for the six months ended 30 September 2018 and 2017 respectively.

噴畫印刷類別對銷售組合之貢獻由截至二零一七年九月三十日止六個月的 19.1% 增長至截至二零一八年九月三十日止六個月的19.9%，而廣告印刷仍然為主要收益來源，截至二零一八年及二零一七年九月三十日止六個月，分別佔總收益的31.6%及 32.2%。

Interim Report 2018 二零一八年中期報告

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

==> picture [354 x 150] intentionally omitted <==

----- Start of picture text -----

Six months ended 30 September
截至九月三十日止六個月
2018 2017
二零一八年二零一七年
HK$’000 HK$’000
千港元千港元
Sales Channels (Unaudited) (Unaudited)
銷售渠道（未經審核）（未經審核）
Stores 商店 54,105 26.4% 46,476 23.4%
Websites 網站 86,570 42.3% 81,004 40.8%
Others (Note) 其他（附註） 64,114 31.3% 71,124 35.8%
Total 總計 204,789 100.0% 198,604 100.0%
----- End of picture text -----

Note: “Others” refers to revenue derived from orders received over the telephone, through e-mail, e-print mobile application and “Photobook” program.

附註：「其他」指通過電話、電郵、e-print 應用程式及「Photobook 」程式接獲的訂單所得的收益。

Websites remained as the major sales channel of the Group which contributed 42.3% of total revenue for the six months ended 30 September 2018. Contribution from other channels decreased from 35.8% for the six months ended 30 September 2017, to 31.3% for the six months ended 30 September 2018. Such decrease was due to the increasing trend of placing the sales orders through online platform instead of making the phone call.

截至二零一八年九月三十日止六個月，網站仍為本集團的主要銷售渠道，貢獻佔總收益的42.3%。其他渠道的銷售貢獻由截至二零一七年九月三十日止六個月的35.8%減少至截至二零一八年九月三十日止六個月的 31.3%。該減少乃因透過網上平台而非電話下達銷售訂單的趨勢日益上升所致。

Other income

其他收入

Other income primarily comprises interest income from unlisted bonds securities and sales of scrap materials. There was HK$0.3 million decrease in amount when compared to that of the six months ended 30 September 2017 which was mainly due to the decrease in interest income from unlisted bonds securities resulting from redemption.

其他收入主要包括非上市債券證券的利息收入及銷售廢料。金額較截至二零一七年九月三十日止六個月減少 300,000港元，其乃主要由於非上市債券證券因贖回導致利息收入減少所致。

eprint Group Limited eprint 集團有限公司

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

Details of the unlisted bonds securities as at 30 September 2018 are as follows:

於二零一八年九月三十日，非上市債券證券之詳情如下：

==> picture [352 x 26] intentionally omitted <==

----- Start of picture text -----

Investment date Details of the unlisted bonds securities Amount
投資日期非上市債券證券的詳情金額
----- End of picture text -----

20 October 2016	Subscribed for bonds issued by National Arts Entertainment	HK$5,000,000
	and Culture Group Limited (stock code: 8228)
二零一六年十月二十日	認購國藝娛樂文化集團有限公司（股份代號：8228）發行	5,000,000港元
	的債券
11 November 2016	Subscribed for bonds issued by Unity Investment Holdings	HK$10,000,000
	Ltd. (stock code: 913)
二零一六年十一月十一日	認購合一投資控股有限公司（股份代號：913）發行的債券	10,000,000港元

In view of the sufficiency of the Group’s liquidity, the Group had diversified to invest in notes/bonds issued by the listed companies on the Stock Exchange for the purpose of capital preservation and a relative high interest return accruing when compared with the bank interest income. The above unlisted bonds securities were reclassified from hold-to-maturity investments to other financial assets at amortised cost according to the newly effective accounting standard in the current period. There was no movement during the period ended 30 September 2018. All the above unlisted bonds securities had subsequently expired after the period ended 30 September 2018. As at the issuance date of this report, the redemption arrangements are still under negotiation between the Group’s management and the respective issuers of the unlisted bonds securities. The Group’s future investment options will depend on the Group’s liquidity position and other cash planning.

鑑於本集團的流動資金充足，本集團投資多類於聯交所上市公司所發行的票據╱債券，以保存資本及獲取所產生的相較銀行利息收入高的利息回報。於本期間內，以上非上市債券證券已根據新生效之會計準則由持至到期投資重新分類為按攤銷成本列賬之其他金融資產。於截至二零一八年九月三十日止期間內，此投資並沒有變動。以上所有非上市債券證券於截至二零一八年九月三十日止期間後已屆滿。於本報告發行當日，本集團管理層與各非上市債券證券發行人仍就贖回安排協商中。本集團的未來投資選擇將取決於本集團的流動資金狀況及其他現金規劃。

Other gains/(losses) – net

其他收益╱（虧損）－淨額

Other gains/(losses) – net mainly comprises the fair value gains on financial assets and net exchange difference. The Group turned the net losses in the prior period to net gains in the current period as the Group incurred losses on disposal of property, plant and equipment of HK$4.3 million for the six months ended 30 September 2017 while generated a gain of HK$0.1 million from the relevant disposal in the current period. The fair value gains on financial assets also increased by HK$0.4 million when compared with the same period of last year.

其他收益╱（虧損）－淨額主要包括金融資產的公允價值收益及匯兌差異淨額。本集團實現由上一期間的虧損淨額轉為本期間的收益淨額，乃由於本集團於截至二零一七年九月三十日止六個月產生出售物業、廠房及設備的虧損為4,300,000港元，而於本期間自有關出售產生收益100,000港元。金融資產的公允價值收益亦較去年同期增加400,000港元。

Interim Report 2018 二零一八年中期報告

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

Selling and distribution expenses

Selling and distribution expenses mainly consisted of staff costs, distribution costs, handling charges for electronic payments and store rentals. Selling and distribution expenses represent 11.5% and 11.3% of the revenue for the six months ended 30 September 2018 and 2017, respectively. The increase of the expenses was mainly caused by the increasing delivery charges that attributed to the growth of sales orders.

Administrative expenses

Administrative expenses primarily comprised directors’ remunerations, staff costs and outsourced customer support expenses. Administrative expenses represent 19.5% and 18.2% of the total revenue for the six months ended 30 September 2018 and 2017 respectively. The amount increased by HK$3.7 million from HK$36.2 million for the six months ended 30 September 2017 to HK$39.9 million for the six months ended 30 September 2018. The increase in expenses was the result of the increasing staff cost and the outsourced customer support expenses.

Finance income

Finance income primarily represented the interest income generated from the bank deposits.

Finance costs

Finance costs primarily consist of interest expenses on bank borrowings and finance charges on obligations under finance lease.

銷售及分銷開支

銷售及分銷開支主要包括員工成本、分銷成本、電子付款的手續費及店舖租金。截至二零一八年及二零一七年九月三十日止六個月，銷售及分銷開支分別佔收益的11.5%及11.3%。開支增加主要由於銷售訂單增長令運輸費用上升所致。

行政開支

行政開支主要包括董事酬金、員工成本及外判客戶支援開支。截至二零一八年及二零一七年九月三十日止六個月，行政開支分別佔總收益的 19.5% 及 18.2% 。金額由截至二零一七年九月三十日止六個月的 36,200,000港元增加3,700,000港元至截至二零一八年九月三十日止六個月的39,900,000港元。開支增加乃由於員工成本及外判客戶支援開支增加所致。

融資收入

融資收入指自銀行存款產生的利息收入。

融資成本

融資成本主要包括銀行借貸的利息開支及融資租賃項下責任的財務費用。

eprint Group Limited eprint 集團有限公司

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

Share of profit of a joint venture

Share of profit of a joint venture represented the share of result of the Group’s joint venture. During the six months ended 30 September 2018, the Company had one joint venture in Malaysia.

Share of losses of associates – net

Share of losses of associates represented the share of results of the Group’s associates. During the six months ended 30 September 2018, the Company had one associate operating in the PRC and Hong Kong respectively.

Profit for the year attributable to equity holders of the Company

Profit for the period attributable to equity holders of the Company increased by HK$1.4 million or 13.8%, from HK$10.1 million for the six months ended 30 September 2017 to HK$11.5 million for the six months ended 30 September 2018. Net profit margin slightly increased from 5.1% for the six months ended 30 September 2017 to 5.6% for the six months ended 30 September 2018. The increase in the profit for the period attributable to equity holders of the Company was mainly due to the banner printing segment which recorded a profit for the six months ended 30 September 2018 while there was a loss making in the same period of last year.

應佔合營公司溢利

應佔合營公司溢利指應佔本集團合營公司業績。於截至二零一八年九月三十日止六個月內，本公司於馬來西亞擁有一間合營公司。

應佔聯營公司虧損－淨額

應佔聯營公司虧損指應佔本集團聯營公司業績。於截至二零一八年九月三十日止六個月內，本公司於中國及香港分別經營一間聯營公司。

本公司權益持有人應佔期內溢利

本公司權益持有人應佔期內溢利由截至二零一七年九月三十日止六個月的 10,100,000港元增加1,400,000港元或13.8%至截至二零一八年九月三十日止六個月的11,500,000港元。純利率亦由截至二零一七年九月三十日止六個月的5.1%輕微增加至截至二零一八年九月三十日止六個月的5.6%。本公司權益持有人應佔期內溢利增加主要由於截至二零一八年九月三十日止六個月噴畫印刷分部錄得溢利而去年同期則錄得虧損所致。

Interim Report 2018 二零一八年中期報告

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

Liquidity and Financial Information

流動資金及財務狀況

As at 30 September 2018, the total amount of bank balances and cash of the Group was approximately HK$73.5 million, a decrease of approximately HK$16.0 million as compared with that as at 31 March 2018. The decrease was mainly due to the dividend payment of HK$13.2 million. As at 30 September 2018, the financial ratios of the Group were as follows:

於二零一八年九月三十日，本集團的銀行結餘及現金總額約為73,500,000 港元，較於二零一八年三月三十一日減少約16,000,000港元。該減少主要由於支付股息13,200,000港元所致。於二零一八年九月三十日，本集團財務比率如下：

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As at As at
30 September 30 September
2018 2017
於二零一八年於二零一七年
九月三十日九月三十日
Current ratio [(1)] 流動比率 [(1)] 2.5 1.5
Gearing ratio [(2)] 資產負債比率 [(2)] 12.3% 17.6%
----- End of picture text -----

Notes:

附註：

(1) Current ratio is calculated based on total current assets divided by total current liabilities.
(1) 流動比率乃按總流動資產除以總流動負債計算。
(2) Gearing ratio is calculated based on total bank overdraft, borrowings and obligation under finance leases divided by total equity and multiplied by 100%.
(2) 資產負債比率乃按總銀行透支、借貸及融資租賃項下責任除以權益總額乘以100%計算。

Borrowings

借貸

The Group had bank borrowings of approximately HK$23.5 million and HK$24.6 million as at 30 September 2018 and 31 March 2018 respectively. All bank borrowings were made from banks in Hong Kong and were repayable within 1 year, except a mortgage loan with carrying amount of HK$21.4 million which was repayable within 18 years. The bank borrowings with repayable on demand clause was classified as current liabilities. No financial instruments were used for hedging purposes, nor were there any foreign currency net investments hedged by current borrowings and/or other hedging instruments. The weighted average interest rates (per annum) were 2.4% and 2.4% for the six months ended 30 September 2018 and 30 September 2017, respectively.

本集團於二零一八年九月三十日及二零一八年三月三十一日的銀行借貸分別約為23,500,000港元及24,600,000 港元。所有銀行借貸均由香港的銀行提供，並須於一年內償還，惟須於十八年內償還的賬面值為21,400,000 港元之抵押貸款除外。訂有按需償還條款的銀行借貸分類為流動負債。概無金融工具用作對沖，亦無任何外匯投資淨額由目前的借貸及╱或其他對沖工具對沖。截至二零一八年九月三十日及二零一七年九月三十日止六個月，加權平均年利率分別為2.4%及 2.4%。

eprint Group Limited eprint 集團有限公司

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

Treasury policies

The Group has adopted a prudent financial management approach towards its treasury policies and thus maintained a healthy liquidity position throughout the period. The Board closely monitors the Group’s liquidity position to ensure that the liquidity structure of the Group’s assets, liabilities and other commitments can meet its funding requirements from time to time.

Capital structure

The capital of the Company comprises ordinary shares and other reserves. The shares of the Company were listed on the Main Board of the Stock Exchange since 3 December 2013. As at 30 September 2018, the total number of issued ordinary shares of the Company was 550,000,000 shares.

Capital commitments

As at 30 September 2018 and 31 March 2018, the Group has capital commitments of HK$4.4 million and HK$5.7 million for investment in an associate and purchase of computer equipment, respectively.

Significant investments held

Except for the investments in subsidiaries, joint venture and associates, the Group did not hold any significant investment in equity interest in any other company during the period under review.

Future plans for material investments and capital assets

Except for the aforesaid capital commitment to the investment in an associate, the Group did not have other plans for material investments and capital assets.

庫務政策

本集團已對其庫務政策採取審慎的財務管理方針，故於整個期間內維持穩健的流動資金狀況。董事會密切監察本集團的流動資金狀況，以確保本集團資產、負債及其他承擔的流動資金架構可滿足其不時之資金要求。

股本架構

本公司股本由普通股及其他儲備組成。本公司股份自二零一三年十二月三日起已於聯交所主板上市。於二零一八年九月三十日，本公司已發行普通股的總數為550,000,000股。

資本承擔

於二零一八年九月三十日及二零一八年三月三十一日，本集團就投資一間聯營公司及購買電腦設備分別擁有資本承擔4,400,000港元及5,700,000港元。

所持重大投資

除於附屬公司、合營公司及聯營公司的投資外，本集團並無於回顧期間在任何其他公司股權中持有任何重大投資。

重大投資及資本資產的未來計劃

除上述投資一間聯營公司的資本承擔外，本集團並無其他重大投資及資本資產的計劃。

Interim Report 2018 二零一八年中期報告

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

Material acquisitions or disposals

The Group did not have any material acquisition or disposal of associates, subsidiaries or joint ventures during the six months ended 30 September 2018.

Exposure to foreign exchange risk

The Group operates principally in Hong Kong and its business is supported by an information technology support services centre located in the PRC. The Group is exposed to foreign exchange risk arising from the exposure of Renminbi against Hong Kong dollars. The Group does not hedge its foreign exchange risk as its exposure to foreign exchange risk is low as the Group’s cash flows mainly denominated in Hong Kong dollars.

Charge of assets

As at 30 September 2018 and 31 March 2018, the Group pledged the plant and machinery with a carrying value of HK$7.2 million and HK$9.7 million respectively, as collaterals to secure the Group’s obligations under finance leases. As at 30 September 2018 and 31 March 2018, the Group pledged two properties with a carrying value of HK$63.6 million and HK$64.7 million respectively, as collaterals to secure the Group’s mortgage loan.

Capital expenditure

During the period under review, the Group invested HK$3.9 million in property, plant and equipment, represented an increase of HK$3.3 million when compared with the same period of last year.

重大收購或出售

本集團於截至二零一八年九月三十日止六個月並無任何聯營公司、附屬公司或合營公司的重大收購或出售。

承受外匯風險

本集團主要在香港營業，其業務由位於中國的資訊科技支援服務中心支援。本集團承受人民幣兌港元所產生的外匯風險。由於本集團的現金流量主要以港元列值，所承受的外匯風險很低，故本集團並無對沖外匯風險。

資產抵押

於二零一八年九月三十日及二零一八年三月三十一日，本集團分別以賬面值 7,200,000 港元及 9,700,000 港元的廠房及機器質押作為抵押品，以擔保本集團融資租賃項下責任。於二零一八年九月三十日及二零一八年三月三十一日，本集團分別以賬面值 63,600,000港元及64,700,000港元的兩處物業質押作為抵押品，以擔保本集團的抵押貸款。

資本開支

本集團於回顧期間投資3,900,000港元於物業、廠房及設備，較去年同期增加3,300,000港元。

eprint Group Limited eprint 集團有限公司

MANAGEMENT DISCUSSION AND ANALYSIS 管理層討論及分析

EMPLOYEES AND EMOLUMENT POLICIES

As at 30 September 2018, the Group had 331 full time employees. There is no significant change in the Group’s emolument policies. On top of basic salaries, bonuses may be paid by reference to the Group’s performance as well as individual’s performance. Other staff benefits include housing allowances, contributions to Mandatory Provident Fund retirement benefits scheme in Hong Kong, the provision of pension funds, medical insurance, unemployment insurance and other relevant insurance for employees who are employed by the Group pursuant to the PRC rules and regulations and the prevailing regulatory requirements of the PRC, and the Employees Provident Fund and contributions to Social Security Organization for employees who are employed by the Group pursuant to the Malaysian rules and regulations and the prevailing regulatory requirements of Malaysia.

INTERIM DIVIDEND

The Board has resolved not to declare an interim dividend for the six months ended 30 September 2018 (six months ended 30 September 2017: Nil).

僱員及薪酬政策

於二零一八年九月三十日，本集團共有331名全職僱員。本集團的薪酬政策並無重大變動。除基本薪金外，獎金亦會參考本集團業績及個人表現而發放。其他員工福利包括住房津貼、香港強積金退休福利計劃供款，根據中國規則及規例和中國的現行監管規定，向本集團所聘用僱員提供養老金、醫療保險、失業保險及其他相關保險及根據馬來西亞規則及規例和馬來西亞的現行監管規定，向本集團所聘用僱員提供僱員公積金及僱員社會保障組織供款。

中期股息

董事會決議不宣派截至二零一八年九月三十日止六個月的中期股息（截至二零一七年九月三十日止六個月：無）。

Interim Report 2018 二零一八年中期報告

OTHER INFORMATION 其他資料

DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS IN SHARES

董事及主要行政人員之股份權益

As at 30 September 2018, the interests or short positions of the Directors and chief executives of the Company in the shares, underlying shares and debentures of the Company or any associated corporation (within the meaning of Part XV of the Securities and Futures Ordinance (“SFO”)) which were notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests or short positions which they are 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 for Securities Transactions by Directors of Listed Issuers (“Model Code”) as set out in Appendix 10 to the Listing Rules, are set out below:

於二零一八年九月三十日，本公司董事及主要行政人員於本公司或任何相聯法團（定義見證券及期貨條例（「證券及期貨條例」）第 XV部）股份、相關股份及債券中擁有須根據證券及期貨條例第 XV部第7及8分部通知本公司及聯交所的權益或淡倉（包括根據證券及期貨條例相關條文彼等被當作或視為擁有的權益或淡倉），或根據證券及期貨條例第352條須登記在該條所述的登記冊，或根據上市規則附錄十所列出《上市發行人董事進行證券交易的標準守則》（「標準守則」）須通知本公司及聯交所的權益或淡倉如下：

Interests and short positions in shares, underlying shares and debentures of the Company or its associated corporation

本公司或其相聯法團股份、相關股份及債券的權益及淡倉

(i) The Company

(i) 本公司

Name of Director 董事姓名	Capacity 身份	Long position/ short position 好倉╱淡倉	Number of ordinary shares held 持有普通股數目	Approximate percentage of shareholding in the Company 於本公司持股概約百分比
Mr. She Siu Kee William	Beneficial owner	Long position	1,584,000	0.29%
佘紹基先生	實益擁有人	好倉
	Interest of controlled	Long position	313,125,000	56.93%
	corporation (Note 1)
	受控制法團權益（附註1）	好倉
Mr. Chong Cheuk Ki	Interest of controlled	Long position	313,125,000	56.93%
	corporation (Note 1)
莊卓琪先生	受控制法團權益（附註1）	好倉
	Interest of spouse (Note 2)	Long position	712,000	0.13%
	配偶權益（附註2）	好倉

eprint Group Limited eprint 集團有限公司

OTHER INFORMATION 其他資料

DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS IN SHARES (Continued)

董事及主要行政人員之股份權益 （續）

Interests and short positions in shares, underlying shares and debentures of the Company or its associated corporation (Continued)

本公司或其相聯法團股份、相關股份及債券的權益及淡倉 （續）

(i) The Company (Continued)

(i) 本公司（續）

Name of Director 董事姓名	Capacity 身份	Long position/ short position 好倉╱淡倉	Number of ordinary shares held 持有普通股數目	Approximate percentage of shareholding in the Company 於本公司持股概約百分比
Mr. Lam Shing Kai	Interest of controlled	Long position	313,125,000	56.93%
	corporation (Note 1)
林承佳先生	受控制法團權益（附註1）	好倉
Mr. Leung Wai Ming	Interest of controlled	Long position	313,125,000	56.93%
	corporation (Note 1)
梁衞明先生	受控制法團權益（附註1）	好倉

Note:

附註：

313,125,000 shares are held by eprint Limited. eprint Limited is held as to 21.62%, 21.62%, 21.62%, 21.62% and 13.52% by Mr. She Siu Kee William (“Mr. She”), Mr. Chong Cheuk Ki (“Mr. Chong”), Mr. Lam Shing Kai (“Mr. Lam”), Mr. Leung Wai Ming (“Mr. WM Leung”) and Mr. Leung Yat Pang (“Mr. YP Leung”) (collectively, the “Concerted Shareholders”) respectively. Pursuant to a deed of confirmation dated 2 July 2013 and entered into by them confirming the existence of their acting in concert arrangement, each of Mr. She, Mr. Chong, Mr. Lam, Mr. WM Leung and Mr. YP Leung has agreed to jointly control their respective interests in the Company. Accordingly, eprint Limited shall be accustomed to act in accordance with joint instructions of the Concerted Shareholders. Hence, each of the Concerted Shareholders is deemed to be interested in all the shares held by eprint Limited by virtue of the SFO.
eprint Limited持有313,125,000 股股份。eprint Limited分別由佘紹基先生（「佘先生」）、莊卓琪先生（「莊先生」）、林承佳先生（「林先生」）、梁衞明先生（「梁衞明先生」）及梁一鵬先生（「梁一鵬先生」）（統稱為「一致行動股東」）擁有 21.62%、21.62%、21.62%、 21.62%及13.52%。根據由彼等簽立日期為二零一三年七月二日之確認契據確認存在之一致行動安排，佘先生、莊先生、林先生、梁衞明先生及梁一鵬先生已各自同意共同控制彼等各自於本公司的權益。因此，eprint Limited慣常根據一致行動股東共同指示行事。因此，根據證券及期貨條例，各一致行動股東被視為於 eprint Limited所持有所有股份中擁有權益。
Mr. Chong is interested in 712,000 shares held by his spouse, Ms. Yip Fei.
莊先生於其配偶葉飛女士持有的712,000股股份中擁有權益。

Interim Report 2018 二零一八年中期報告

OTHER INFORMATION 其他資料

DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS IN SHARES (Continued)

董事及主要行政人員之股份權益 （續）

Interests and short positions in shares, underlying shares and debentures of the Company or its associated corporation (Continued)

本公司或其相聯法團股份、相關股份及債券的權益及淡倉 （續）

(ii) Associated corporation – eprint Limited

(ii) 相聯法團－eprint Limited

Name of Director 董事姓名	Nature of interest 權益性質	Number of ordinary shares held in the Associated Corporation 持有相聯法團普通股數目	Approximate percentage of shareholding in the Associated Corporation 於相聯法團持股概約百分比
Mr. She	Beneficial owner	2,162	21.62%
佘先生	實益擁有人
Mr. Chong	Beneficial owner	2,162	21.62%
莊先生	實益擁有人
Mr. Lam	Beneficial owner	2,162	21.62%
林先生	實益擁有人
Mr. WM Leung	Beneficial owner	2,162	21.62%
梁衞明先生	實益擁有人

Note: The disclosed interest represents the interests in eprint Limited, the controlling shareholder of the Company, which is owned by Mr. She, Mr. Chong, Mr. Lam, Mr. WM Leung and Mr. YP Leung in the respective proportions of 21.62%, 21.62%, 21.62%, 21.62% and 13.52%.

附註：披露權益指佘先生、莊先生、林先生、梁衞明先生及梁一鵬先生於本公司控股股東eprint Limited之權益，各自所佔比例分別為21.62%、 21.62%、21.62%、21.62% 及13.52%。

Save as disclosed above, none of the Directors, chief executives of the Company and/or their associates had any interests or short positions in any shares, underlying shares and debentures of the Company or any of its associated corporations as at 30 September 2018 as recorded in the register to be kept under section 352 of the SFO or as otherwise notified to the Company and the Stock Exchange pursuant to the Model Code.

除上文披露者外，董事、本公司主要行政人員及╱或其聯繫人士於二零一八年九月三十日，並無在本公司或其任何相聯法團的任何股份、相關股份及債券中擁有須在證券及期貨條例第352條規定備存的登記冊內記錄或根據標準守則須通知本公司及聯交所的任何權益或淡倉。

eprint Group Limited eprint 集團有限公司

OTHER INFORMATION 其他資料

INTEREST IN SHARE OPTIONS

Share option scheme

The Company adopted a share option scheme (the “Scheme”) on 13 November 2013 pursuant to the written resolutions of the shareholders passed on 13 November 2013. The Scheme is a share incentive scheme and is established to recognise and acknowledge the contributions of the Eligible Participants (as defined in the Prospectus) have had or may have made to the Group. Pursuant to the Scheme, the Board may, at its discretion, offer to grant an option to subscribe of new Shares in aggregate not exceeding 30% of the Shares in issue from time to time.

No share option was granted under the Scheme since its adoption and up to the date of this report.

SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS’ INTERESTS IN SHARES

As at 30 September 2018, so far as is known to the Directors, the following persons (other than the Directors and the chief executives of the Company) had interests or short positions in the shares and underlying shares of the Company as recorded in the register required to be kept under section 336 of the SFO.

購股權權益

購股權計劃

根據於二零一三年十一月十三日通過的股東書面決議案，本公司於二零一三年十一月十三日採納一項購股權計劃（「該計劃」）。該計劃為一項股份獎勵計劃，旨在肯定及認可合資格參與者（定義見招股章程）對本集團已作出或可能已作出的貢獻。根據該計劃，董事會可酌情授出購股權，藉以認購新股，總數不超過不時已發行股份的30%。

自採納以來直至本報告日期，概無根據該計劃授出任何購股權。

主要股東及其他人士之股份權益

於二零一八年九月三十日，據董事所知，以下人士（不包括董事及本公司主要行政人員）在本公司股份及相關股份中擁有須根據證券及期貨條例第 336條規定備存的登記冊內記錄的權益或淡倉。

Interim Report 2018 二零一八年中期報告

OTHER INFORMATION 其他資料

SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS’ INTERESTS IN SHARES

主要股東及其他人士之股份權益

（續）

(Continued)

Interests or short positions in shares and underlying shares of the Company

本公司股份及相關股份的權益或淡倉

==> picture [352 x 66] intentionally omitted <==

----- Start of picture text -----

Approximate
Number of percentage of
ordinary shareholding in
Name Capacity Position shares held the Company
持有普通股於本公司持股
姓名╱名稱身份倉位數目概約百分比
----- End of picture text -----

eprint Limited (Note 1)	Beneficial owner	Long position	313,125,000	56.93%
eprint Limited（附註1）	實益擁有人	好倉
Ms. Lo Suet Yee (Note 2)	Interest of spouse	Long position	314,709,000	57.22%
盧雪兒女士（附註2）	配偶權益	好倉
Ms. Yip Fei (Note 3)	Beneficial owner	Long position	712,000	0.13%
葉飛女士（附註3）	實益擁有人	好倉
	Interest of spouse	Long position	313,125,000	56.93%
	配偶權益	好倉
Ms. Yu Siu Ping (Note 4)	Interest of spouse	Long position	313,125,000	56.93%
俞少萍女士（附註4）	配偶權益	好倉
Ms. Chau Fung Kiu (Note 5)	Interest of spouse	Long position	313,125,000	56.93%
周鳳翹女士（附註5）	配偶權益	好倉
Mr. Huang Xiaopeng (Note 6)	Interest of controlled	Long position	61,875,000	11.25%
	corporation
黃曉鵬先生（附註6）	受控制法團權益	好倉
Mr. Huang Xiaojia (Note 6)	Interest of controlled	Long position	61,875,000	11.25%
	corporation
黃曉佳先生（附註6）	受控制法團權益	好倉
Mr. Huang Bingwen (Note 6)	Interest of controlled	Long position	61,875,000	11.25%
	corporation
黃炳文先生（附註6）	受控制法團權益	好倉

eprint Group Limited eprint 集團有限公司

OTHER INFORMATION 其他資料

SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS’ INTERESTS IN SHARES

主要股東及其他人士之股份權益

（續）

(Continued)

Interests or short positions in shares and underlying shares of the Company (Continued)

本公司股份及相關股份的權益或淡倉 （續）

==> picture [353 x 66] intentionally omitted <==

Hong Kong Tung Fung Investment	Interest of controlled	Long position	61,875,000	11.25%
Company Limited (Note 6)	corporation
香港東風投資有限公司（附註6）	受控制法團權益	好倉
Shantou Dongfeng Printing	Interest of controlled	Long position	61,875,000	11.25%
Co. Ltd. (“Shantou Dongfeng”)	corporation
(Note 6)
汕頭東風印刷股份有限公司	受控制法團權益	好倉
（「汕頭東風」）（附註6）
Hong Kong Luck Investment	Beneficial owner	Long position	61,875,000	11.25%
Company Limited (Note 6)
香港福瑞投資有限公司（附註6）	實益擁有人	好倉
Mr. YP Leung	Interest of controlled	Long position	313,125,000	56.93%
	corporation (Note 7)
梁一鵬先生	受控制法團權益（附註7）	好倉
Notes:		附註：

eprint Limited is directly interested in approximately 56.93% in the Company.
eprint Limited直接擁有本公司約 56.93%權益。
Ms. Lo Suet Yee is the spouse of Mr. She. Under the SFO, Ms. Lo Suet Yee is taken to be interested in the same number of Shares in which Mr. She is interested.
盧雪兒女士為佘先生的配偶。根據證券及期貨條例，盧雪兒女士被視為於佘先生所擁有權益之相同數目股份中擁有權益。
Ms. Yip Fei is the spouse of Mr. Chong. Under the SFO, Ms. Yip Fei is taken to be interested in the same number of shares in which Mr. Chong is interested.
葉飛女士為莊先生的配偶。根據證券及期貨條例，葉飛女士被視為於莊先生所擁有權益之相同數目股份中擁有權益。

Interim Report 2018 二零一八年中期報告

OTHER INFORMATION 其他資料

SUBSTANTIAL SHAREHOLDERS AND OTHER PERSONS’ INTERESTS IN SHARES

主要股東及其他人士之股份權益

（續）

(Continued)

Interests or short positions in shares and underlying shares of the Company (Continued)

Notes: (Continued)

Ms. Yu Siu Ping is the spouse of Mr. Lam. Under the SFO, Ms. Yu Siu Ping is taken to be interested in the same number of shares in which Mr. Lam is interested.
Ms. Chau Fung Kiu is the spouse of Mr. WM Leung. Under the SFO, Ms. Chau Fung Kiu is taken to be interested in the same number of shares in which Mr. WM Leung is interested.
These 61,875,000 shares are held by Hong Kong Luck Investment Company Limited, which is a wholly-owned subsidiary of Shantou Dongfeng, an A-share company listed on the main board of the Shanghai Stock Exchange. Shantou Dongfeng is 54.40% held by Hong Kong Tung Fung Investment Company Limited and 1.11% held by Mr. Huang Xiaojia. Hong Kong Tung Fung Investment Company is owned as to 34% by Mr. Huang Xiaopeng, 33% by Mr. Huang Xiaojia and 33% by Mr. Huang Bingwen. Under the SFO, each of Shantou Dongfeng, Hong Kong Tung Fung Investment Company Limited, Mr. Huang Xiaopeng, Mr. Huang Xiaojia and Mr. Huang Bingwen is taken to be interested in the same number of shares in which Hong Kong Luck Investment Company Limited is interested.
These 313,125,000 shares are held through eprint Limited, a company is beneficially owned as to 13.52% by Mr. YP Leung.

Save as disclosed above, the Directors are not aware of any other persons who have interests or short positions in the shares, underlying shares or debentures of the Company or any associated corporations (within the meaning of the SFO) as recorded in the register required to be kept under section 336 of the SFO as at 30 September 2018.

本公司股份及相關股份的權益或淡倉 （續）

附註：（續）

俞少萍女士為林先生的配偶。根據證券及期貨條例，俞少萍女士被視為於林先生所擁有權益之相同數目股份中擁有權益。
周鳳翹女士為梁衞明先生的配偶。根據證券及期貨條例，周鳳翹女士被視為於梁衞明先生所擁有權益之相同數目股份中擁有權益。
該等61,875,000股股份由香港福瑞投資有限公司持有，該公司為汕頭東風（一間於上海證券交易所主板上市之A股公司）之全資附屬公司。汕頭東風由香港東風投資有限公司持有54.40%權益，而由黃曉佳先生持有1.11%。香港東風投資有限公司由黃曉鵬先生、黃曉佳先生及黃炳文先生分別擁有34%、33%及 33%權益。根據證券及期貨條例，汕頭東風、香港東風投資有限公司、黃曉鵬先生、黃曉佳先生及黃炳文先生各自被視為於香港福瑞投資有限公司所擁有權益之相同數目股份中擁有權益。
該等313,125,000股股份乃透過 eprint Limited持有，eprint Limited 為一間由梁一鵬先生實益擁有 13.52%權益的公司。
除上文所披露者外，於二零一八年九月三十日，董事並不知悉有任何其他人士在本公司或任何相關法團（定義見證券及期貨條例）的股份、相關股份或債券中擁有須根據證券及期貨條例第336條規定備存的登記冊內記錄的權益或淡倉。

eprint Group Limited eprint 集團有限公司

OTHER INFORMATION 其他資料

PURCHASE, SALE OR REDEMPTION OF SECURITIES

Neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company’s listed securities during the six months ended 30 September 2018.

MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS

The Company has adopted the Model Code as set out in Appendix 10 to the Listing Rules as the code of conduct regarding Directors’ securities transactions. Having made specific enquiry of all Directors, all the Directors have confirmed that they have complied with the required standards as set out in the Model Code for the six months ended 30 September 2018.

CODE ON CORPORATE GOVERNANCE PRACTICES

The Company has adopted the code provisions set out in the Corporate Governance Code and Corporate Governance Report (“CG Code”) as set out in Appendix 14 to the Listing Rules.

To the knowledge of the Board, the Company had fully complied with the relevant code provisions in the CG Code for the six months ended 30 September 2018 save for the deviation as explained below.

Code provision A.2.1 of the CG Code provides that the roles of the chairman and chief executive officer should be separated and should not be performed by the same individual. The Company does not at present separate the roles of the chairman and chief executive officer. Mr. She Siu Kee William is the chairman and chief executive officer of the Company. The Board believes that vesting the roles of both chairman and chief executive officer in the same person has the benefit of ensuring consistent leadership within the Group and enables more effective and efficient overall strategic planning for the Group. The Board further believes that the balance of power and authority for the present arrangement will not be impaired and is adequately ensured by the current Board which comprises experienced and high caliber individuals with sufficient number thereof being non-executive Directors and independent non-executive Directors.

購入、出售或贖回證券

於截至二零一八年九月三十日止六個月內，本公司或其任何附屬公司並無購入、出售或贖回本公司的任何上市證券。

董事進行證券交易的標準守則

本公司已採納上市規則附錄十列載的標準守則，作為有關董事進行證券交易的行為守則。在向全體董事作出特定查詢後，全體董事確認，截至二零一八年九月三十日止六個月，彼等已遵守標準守則所列載的規定標準。

企業管治常規守則

本公司已採納上市規則附錄十四列載的企業管治守則（「企業管治守則」）及企業管治報告所列載的守則條文。

據董事會所知，截至二零一八年九月三十日止六個月，本公司已完全遵從企業管治守則的相關守則條文，下文所述偏離者則除外。

企業管治守則之守則條文第 A.2.1條規定，主席和行政總裁角色須分開，不得由同一人擔任。本公司現未將主席與行政總裁角色分開。佘紹基先生為本公司主席及行政總裁。董事會相信將主席與行政總裁角色集於同一人，有確保本集團內一致領導的好處，並可讓本集團實踐更具效率和效益的整體策略規劃。董事會更相信，目前安排的權力及職權平衡不會受到損害，而目前由擁有經驗豐富和能幹成員（其中有足夠數目的非執行董事及獨立非執行董事）組成的董事會亦能確保有足夠的權力制衡。

Interim Report 2018 二零一八年中期報告

OTHER INFORMATION 其他資料

AUDIT COMMITTEE

The Company established the audit committee of the Board (the “Audit Committee”) on 13 November 2013 with written terms of reference, which was revised on 22 April 2016 in compliance with the CG Code. The primary duties of the Audit Committee are to review and supervise the financial reporting system and to review the risk management and internal control systems of the Group. The Audit Committee comprises three independent non-executive Directors, namely, Mr. Ma Siu Kit (Chairman), Mr. Poon Chun Wai and Mr. Fu Chung. The Audit Committee has reviewed the unaudited condensed interim consolidated financial information for the six months ended 30 September 2018.

By order of the Board eprint Group Limited She Siu Kee William Chairman

Hong Kong, 23 November 2018

審核委員會

本公司於二零一三年十一月十三日根據企業管治守則成立董事會審核委員會（「審核委員會」），並制定書面職責範圍（於二零一六年四月二十二日修訂）。審核委員會的主要職責為審閱及監察本集團的財務申報程序及審閱風險管理及內部監控系統。審核委員會由三名獨立非執行董事馬兆杰先生（主席）、潘振威先生及傅忠先生組成。審核委員會已審閱截至二零一八年九月三十日止六個月之未經審核簡明中期合併財務資料。

承董事會命 eprint集團有限公司佘紹基 主席

香港，二零一八年十一月二十三日

eprint Group Limited eprint 集團有限公司

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AI assistant

eprint Group Limited — Interim / Quarterly Report 2019

50240_rns_2018-12-13_aa95d9e0-9909-4ccb-af3a-7e3ea623e7ad.pdf

CONTENTS 目錄

Corporate Information

BOARD OF DIRECTORS

Executive directors

Non-executive directors

Independent non-executive directors

AUDIT COMMITTEE

REMUNERATION COMMITTEE

NOMINATION COMMITTEE

AUTHORISED REPRESENTATIVES

COMPANY SECRETARY

REGISTERED OFFICE

董事會

審核委員會

薪酬委員會

提名委員會

註冊辦事處

HEADQUARTER AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG

PRINCIPAL BANKERS

AUDITOR

LEGAL ADVISOR TO THE COMPANY (HONG KONG LAW) Michael Li & Co.

PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE

COMPANY WEBSITE

STOCK CODE

香港總公司及主要營業地點

主要往來銀行

核數師

主要股份登記及過戶處

公司網址

股份代號

簡明中期合併財務資料附註

1 GENERAL

2 BASIS OF PREPARATION

1 一般資料

2 編製基準

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策

簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策 （續）

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策 （續）

HKFRS 16, ‘Leases’

Nature of change

Impact

香港財務報告準則第16號「租 賃」

變動之性質

影響

簡明中期合併財務資料附註

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策 （續）

Date of adoption by Group

3.1 Changes in accounting policies

本集團採納之日期

3.1 會計政策變動

3 PRINCIPAL ACCOUNTING POLICIES

3.1 Changes in accounting policies (Continued)

(a) Impact on financial information

(a) 對財務資料的影響

3 PRINCIPAL ACCOUNTING POLICIES (Continued)

3.1 Changes in accounting policies (Continued)

(b) HKFRS 9 Financial Instruments – Impact on adoption

(i) Classification and measurement

3 主要會計政策 （續）

3.1 會計政策變動 （續）

(b) 香港財務報告準則第9號金融工 具－採納的影響

(i) 分類及計量

重新分類的影響如下：

3 PRINCIPAL ACCOUNTING POLICIES

3 主要會計政策 （續）

3.1 Changes in accounting policies (Continued)

(b) HKFRS 9 Financial Instruments – Impact on adoption (Continued)

(ii) Impairment of financial assets (Continued)

Trade receivables

3.1 會計政策變動 （續）

(b) 香港財務報告準則第9號金融工 具－採納的影響 （續）

eprint Group Limited Interim / Quarterly Report 2019

3 主要會計政策（續）

3 主要會計政策（續）

香港財務報告準則第16號「租賃」

3 主要會計政策（續）

3 主要會計政策（續）

3.1 會計政策變動（續）

(b) 香港財務報告準則第9號金融工具－採納的影響

3 主要會計政策（續）

3.1 會計政策變動（續）

(b) 香港財務報告準則第9號金融工具－採納的影響（續）

3 主要會計政策（續）

3.1 會計政策變動（續）

3 主要會計政策（續）

3.1 會計政策變動（續）

(ii) 計量（續）債務工具

3 主要會計政策（續）

5 財務風險管理（續）

5 財務風險管理（續）

(c) 公允價值估計（續）

5 FINANCIAL RISK MANAGEMENT 5 財務風險管理（續）

6 分部資料（續）

6 分部資料（續）

6 SEGMENT INFORMATION (Continued) 6 分部資料（續）