KML Technology Group Limited — Annual Report 2020

Jun 26, 2020

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KML Technology Group Limited 高萌科技集團有限公司

(Incorporated in the Cayman Islands with limited liability)

（於開曼群島註冊成立之有限公司） Stock Code 股份代號 : 8065

Annual Report 年報 2019/20

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

GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Stock Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.

Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.

Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this report, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this report.

This report, for which the directors (the “ Directors ”) of KML Technology Group Limited (the “ Company ”) collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on the GEM of the Stock Exchange (the “ GEM Listing Rules ”) for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this report is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this annual report misleading.

This report, in both English and Chinese versions, is available on the Company’s website at www.kml.com.hk.

香港聯合交易所有限公司（「聯交所」）GEM的特色

GEM的定位，乃為中小型公司提供一個上市的市場，此等 公司相比起其他在聯交所上市的公司帶有較高投資風險。 有意投資的人士應了解投資於該等公司的潛在風險，並應 經過審慎周詳的考慮後方作出投資決定。

由於GEM上市公司普遍為中小型公司，在GEM買賣的證 券可能會較於主板買賣之證券承受較大的市場波動風險， 同時無法保證在GEM買賣的證券會有高流通量的市場。

香港交易及結算所有限公司以及聯交所對本報告的內容概 不負責，對其準確性或完整性亦不發表任何聲明，並明確 表示概不就因本報告全部或任何部分內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。

本報告的資料乃遵照聯交所的GEM證券上市規則（「 GEM 上市規則 」）而刊載，旨在提供有關高萌科技集團有限公司 （「 本公司 」）的資料；本公司董事（「 董事 」）願就本報告共同 及個別地承擔全部責任。各董事在作出一切合理查詢後， 確認就其所知及所信，本報告所載資料在各重要方面均屬 準確完備，沒有誤導或欺詐成份，且並無遺漏任何事項， 足以令致本年報或其所載任何陳述產生誤導。

本報告的英文本及中文本已登載於本公司網站www.kml. com.hk。

高萌科技集團有限公司 • 二零一九/ 二零年年報

1

Contents 目錄

	Page
	頁次
Corporate Information	3
公司資料
Chairman’s Statement	5
主席報告
Financial Highlights	6
財務摘要
Management Discussion and Analysis	7
管理層討論及分析
Directors and Senior Management	15
董事及高級管理層
Report of Directors	21
董事會報告
Corporate Governance Report	38
企業管治報告
Independent Auditor’s Report	53
獨立核數師報告
Consolidated Statement of Profit or Loss and Other Comprehensive Income	58
綜合損益及其他全面收益表
Consolidated Statement of Financial Position	59
綜合財務狀況表
Consolidated Statement of Changes in Equity	60
綜合權益變動表
Consolidated Statement of Cash Flows	61
綜合現金流量表
Notes to Consolidated Financial Statements	63
綜合財務報表附註
Financial Summary	128
財務概要

2 KML Technology Group Limited • Annual Report 2019/20

Corporate Information 公司資料

BOARD OF DIRECTORS

Executive Directors

Mr. Luk Kam Ming (Chairman) Mr. Chan Chak Lun Philip (Chief executive officer) Mr. Luk Kwai Lung Mr. Luk Yin Cheung

Independent Non-executive Directors

Mr. Lau On Kwok Mr. Law Wing Chi Stephen Dr. Tse Chi Kong

Audit Committee

Mr. Lau On Kwok (Chairman) Mr. Law Wing Chi Stephen Dr. Tse Chi Kong

Remuneration Committee

Dr. Tse Chi Kong (Chairman) Mr. Lau On Kwok Mr. Luk Kam Ming

Nomination Committee

Mr. Luk Kam Ming (Chairman) Mr. Law Wing Chi Stephen Dr. Tse Chi Kong

Risk Management Committee

Mr. Law Wing Chi Stephen (Chairman) Mr. Chan Chak Lun Philip Mr. Lau On Kwok Mr. Luk Kwai Lung Mr. Luk Yin Cheung

AUTHORISED REPRESENTATIVES

Mr. Luk Kwai Lung Ms. Woo Siu Wai

COMPANY SECRETARY

Ms. Woo Siu Wai

COMPLIANCE OFFICER

Mr. Luk Yin Cheung

AUDITOR

Ernst & Young Certified Public Accountants 22nd Floor, CITIC Tower 1 Tim Mei Avenue Central, Hong Kong

董事會

執行董事

陸鑑明先生（主席） 陳澤麟先生（行政總裁） 陸季農先生 陸彥彰先生

獨立非執行董事 劉安國先生 羅永志先生 謝智剛博士

審核委員會

劉安國先生（主席） 羅永志先生 謝智剛博士

薪酬委員會

謝智剛博士（主席） 劉安國先生 陸鑑明先生

提名委員會

陸鑑明先生（主席） 羅永志先生 謝智剛博士

風險管理委員會

羅永志先生（主席） 陳澤麟先生 劉安國先生 陸季農先生 陸彥彰先生

法定代表 陸季農先生 胡劭卉女士

公司秘書 胡劭卉女士

合規主任 陸彥彰先生

核數師

安永會計師事務所 執業會計師 香港中環 添美道1號 中信大廈22樓

3

高萌科技集團有限公司 • 二零一九/ 二零年年報

Corporate Information 公司資料

COMPLIANCE ADVISER

Kingsway Capital Limited 7th Floor Tower One, Lippo Centre 89 Queensway Hong Kong

REGISTERED OFFICE

Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman, KY1-1111 Cayman Islands

HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG

B12, G/F Shatin Industrial Centre Siu Lek Yuen Road Shatin, New Territories Hong Kong

PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THE CAYMAN ISLANDS

Conyers Trust Company (Cayman) Limited Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands

HONG KONG SHARE REGISTRAR

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

PRINCIPAL BANKER

The Hongkong and Shanghai Banking Corporation Limited HSBC Main Building 1 Queen’s Road Central Hong Kong

COMPANY WEBSITE

www.kml.com.hk

STOCK CODE

8065

DATE OF LISTING

16 October 2017

合規顧問

滙富融資有限公司 香港 金鐘道89號 力寶中心第一座 7樓

註冊辦事處

Cricket Square Hutchins Drive P.O. Box 2681 Grand Cayman, KY1-1111 Cayman Islands

香港總部及主要營業地點

香港 新界沙田 小瀝源路 沙田工業中心 地下B12室

於開曼群島主要股份過戶登記處

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

香港股份登記處

卓佳證券登記有限公司 香港 皇后大道東183號 合和中心54樓

主要往來銀行

香港上海滙豐銀行有限公司 香港 皇后大道中1號 滙豐總行大廈

公司網站

www.kml.com.hk

股份代號

8065

上市日期 二零一七年十月十六日

4 KML Technology Group Limited • Annual Report 2019/20

Chairman’s Statement 主席報告

Dear Shareholders,

On behalf of the board of Directors (the “ Board ”) of the Company and its subsidiaries (collectively the “ Group ”), I am delighted to present the annual results of our Group for year ended 31 March 2020.

The Group’s revenue for the year ended 31 March 2020 increased by approximately HK$13.6 million, or approximately 6.5% from approximately HK$210.6 million to approximately HK$224.2 million. The Group recorded a gross profit of approximately HK$71.3 million, representing a gross profit margin of approximately 31.8% for the year ended 31 March 2020 as compared to HK$66.1 million for the year ended 31 March 2019, with a gross profit margin of approximately 31.4%. Despite the public order events in Hong Kong since the latter half of 2019 and the novel coronavirus pandemic worldwide, operation of the Group was put under pressure, we had resolved them by putting much effort. Our management team did its utmost to consolidate resources from all areas to maintain normal operation. We are glad to be able to maintain and upkeep a steady growth of our revenue as well as profit in such adverse conditions.

Year 2019 is a significant year to the Group. Together with our business partner, we were awarded a contract amounting to approximately HK$441.6 million from our customer to replace and upgrade the existing automatic fare collection (“ AFC ”) gates and ticket issuing machines at various railway lines. This 8-year large scale AFC asset replacement project signifies our customer’s recognition of our expertise in AFC system as well as our edge in the application and integration of new multiple electronic payment methods to AFC equipment and project implementation. The Group will continue to explore more opportunities in the AFC arena, and expand the market share.

Apart from this, the Group has been adhering to the corporate social responsibility and is committed to protecting the environment. In 2019, the Group and its subsidiaries have been awarded the ISO 14001:2015 Environmental Management System Certificates by the Hong Kong Quality Assurance Agency, which certifies that the environmental management systems meet the requirements of ISO 14001:2015 by implementing a systematic management process, the environmental aspects such as natural resources, use of energy and gas emissions are being managed to reduce the environmental impacts and thereby fulfilling our commitment to environmental protection. With the adoption of the systematic management approach, the Group’s management will keep on leading our colleagues to promote the environmental performance, by which the Group’s reputation and the satisfaction of stakeholders with the Group can be enhanced and resulting in achieving the Group’s sustainable business objectives.

Yet, the unexpected significant influence from the outbreak of novel coronavirus across the world brings uncertainties and challenges to the Group. Quarantine procedures for inbound and outbound travel hinder our normal business activities inevitably. The public order events in Hong Kong during the latter half of 2019, together with a weakening economy resulted in a decline of patronage of the domestic transport operation of our major customer impose uncertainties to the Group’s business opportunities for the next year. The political and trade tension between the Mainland and the United States creates unprecedented challenges to the economy and Hong Kong as a whole. The Board will closely monitor the situation and will notify the stakeholders of the Company from time to time in relation to the situation affecting the Group.

Finally, I would like to express my sincere gratitude to the relentless support of shareholders of our Company (the “ Shareholder(s) ”), investors, suppliers, customers and business partners, and especially our dedicated staff members for their commitment and contributions throughout the year. The management team and all staff members of the Group will continue striving for better results for the Group and maximise values for our Shareholders.

KML Technology Group Limited Luk Kam Ming Chairman and Executive Director

Hong Kong, 18 June 2020

致各位股東：

本人謹代表本公司及其附屬公司（統稱「 本集團 」）董事會 （「 董事會 」）欣然呈報本集團截至二零二零年三月三十一日 止年度的年度業績。

截至二零二零年三月三十一日止年度，本集團收益由約 210.6百萬港元增加約13.6百萬港元或約6.5%至約224.2百 萬港元。截至二零二零年三月三十一日止年度，本集團錄 得毛利約為71.3百萬港元，毛利率約為31.8%，而截至二 零一九年三月三十一日止年度的毛利則為66.1百萬港元， 毛利率約為31.4%。儘管自二零一九年下半年香港發生公 共秩序事件及新型冠狀病毒疫情於全球爆發，本集團的營 運受到壓力，我們已努力解決該等事宜。我們的管理團隊 已盡最大努力整合所有領域的資源以維持正常營運。我們 在該等不利情況下能夠維持及保持收益及溢利的穩定增 長，對此我們深感欣慰。

二零一九年度為本集團非常重要的一年。我們與業務夥伴 一同自客戶獲授一份約441.6百萬港元的合約，於多個鐵路 線替換及升級現有自動收費（「 自動收費 」）閘門及售票機。 此八年大型自動收費資產替換項目標誌者客戶對我們的自 動收費系統專長以及我們在申請及整合新的多種電子支付 方式至自動收費設備及項目實施方面優勢的認可。本集團 將繼續於自動收費領域探索更多機遇，並擴大市場份額。

除此之外，本集團已遵守企業社會責任並承諾保護環境。 於二零一九年，本集團及其附屬公司榮獲香港品質保證局 頒發的ISO 14001:2015環保管理系統認證，透過實施系 統管理程序、環保方面（如自然資源、使用能源及氣體排 放）的管理以降低環境影響，認證環保管理系統符合ISO 14001:2015的規定，從而履行我們的環保承諾。透過採納 系統管理方法，本集團管理層將持續帶領同事提高環境表 現，藉此可提高本集團的聲譽及本集團持份者的滿意度， 從而實現本集團的可持續業務目標。

然而，全球爆發新型冠狀病毒產生的意料之外的重大影響 對本集團帶來不確定因素及挑戰。出入境檢疫程序不可避 免地阻礙了我們的正常業務活動。於二零一九年下半年 香港的公共秩序事件，連同經濟低迷導致主要客戶本地運 輸經營客流量下降，對本集團下一年的商機產生不明朗因 素。內地及美國之間的政治及貿易緊張局勢對香港的整體 經濟帶來前所未有的挑戰。董事會將密切監察形勢，並將 不時知會本公司持份者有關影響本集團的情況。

最後，本人謹此對本公司股東（「 股東 」）、投資者、供應 商、客戶及業務夥伴的不懈支持表示誠摯感謝，尤其是我 們敬業的員工於整個年度內作出的承擔及貢獻。本集團管 理團隊及全體員工將繼續為本集團力爭更佳業績，並為股 東創造最大價值。

高萌科技集團有限公司 陸鑑明

主席兼執行董事

香港，二零二零年六月十八日

高萌科技集團有限公司 • 二零一九/ 二零年年報

5

Financial Highlights 財務摘要

Revenue of the Group for the year ended 31 March 2020 amounted to approximately Hong Kong dollars (“ HK$ ”) 224.2 million, representing an increase of approximately HK$13.6 million or approximately 6.5% as compared with approximately HK$210.6 million for the year ended 31 March 2019.

Gross profit of the Group for the year ended 31 March 2020 amounted to approximately HK$71.3 million (2019: approximately HK$66.1 million).

The net profit of the Group for the year ended 31 March 2020 amounted to approximately HK$21.6 million (2019: approximately HK$19.3 million).

The Board recommends the payment of a final dividend of HK2.0 cents per ordinary share for the year ended 31 March 2020 (2019: Nil).

本集團截至二零二零年三月三十一日止年度的收益約為 224.2百萬港元（「 港元 」），較截至二零一九年三月三十一 日止年度的約210.6百萬港元增加約13.6百萬港元或約 6.5%。

本集團截至二零二零年三月三十一日止年度的毛利約為 71.3百萬港元（二零一九年：約66.1百萬港元）。

本集團截至二零二零年三月三十一日止年度的淨溢利約為 21.6百萬港元（二零一九年：約19.3百萬港元）。

董事會建議派付截至二零二零年三月三十一日止年度的末 期股息每股普通股2.0港仙（二零一九年：無）。

6 KML Technology Group Limited • Annual Report 2019/20

Management Discussion and Analysis 管理層討論及分析

BUSINESS REVIEW

業務回顧

The Group has been providing electrical and mechanical (“ E&M ”) engineering solutions and services in Hong Kong for over 40 years. Our principal business is the provision of E&M engineering works, and comprises (i) E&M engineering solutions and services on Transportation Mission Critical Systems Solutions and other E&M engineering solutions and services; (ii) E&M engineering design and fabrication services; (iii) E&M engineering maintenance services; and (iv) sales of parts and components. Depending on our customers’ needs and requirements, we provide a full spectrum of solutions and services covering design, equipment assembly, supply, installation, fabrication, testing, and commissioning and maintenance support with a focus on Hong Kong Transportation Mission Critical System Solutions.

本集團於香港提供機電（「 機電 」）工程解決方案和服務逾 四十年。我們的主要業務為提供機電工程作業，包括(i)交 通關鍵系統解決方案的機電工程解決方案及服務和其他機 電工程解決方案及服務；(ii)機電工程設計及裝配服務；(iii) 機電工程保養服務；及(iv)銷售零件及部件。視乎客戶的需 求及要求，我們提供涵蓋設計、設備裝置、供應、安裝、 裝配、測試及調試以及維護支援的全面解決方案及服務， 主要專注香港交通關鍵系統解決方案。

The following table sets forth the details of our Group’s revenue by type of projects and services we undertook for the year ended 31 March 2020 and 2019:

下表載列本集團按於截至二零二零年及二零一九年三月 三十一日止年度所承接的項目及服務類別劃分的收益詳 情：

Type of Projects 項目類別 E&M Engineering Solutions and Services 機電工程解決方案及服務 – Transportation Mission Critical System Solutions －交通關鍵系統解決 方案 – Other E&M Engineering Solutions and Services －其他機電工程解決 方案及服務 Subtotal 小計 E&M Engineering Design and Fabrication Services 機電工程設計及裝配 服務 E&M Engineering Maintenance Services 機電工程保養服務 Sale of Parts and Components 銷售零件及部件 Total 總計	For the year ended 31 March 截至三月三十一日止年度 2020 2019 二零二零年 二零一九年 HK$’000 % HK$’000 % 千港元 千港元
	51,615 23.0 76,698 36.4 132,886 59.3 96,313 45.8
	184,501 82.3 173,011 82.2 4,434 2.0 8,282 3.9 34,354 15.3 28,399 13.5 939 0.4 904 0.4
	224,228 100.0 210,596 100.0

高萌科技集團有限公司 • 二零一九/ 二零年年報

7

Management Discussion and Analysis 管理層討論及分析

E&M Engineering Solutions and Services segment accounts for the largest business segment of our Group’s business. Approximately 82.3% of the revenue was attributable to this segment for the year ended 31 March 2020. The second largest segment is E&M Engineering Maintenance Services. Revenue from this segment increased by approximately 21.1% from approximately HK$28.4 million for the year ended 31 March 2019 to approximately HK$34.4 million for the year ended 31 March 2020. During the year, the Group has substantially completed some major projects including (i) the integration of mobile payment application at the Taiwan Taoyuan Metro with quick response code (“ QR Code ”), contactless payment including VISA payWave, Mastercard Contactless and UnionPay QuickPass; (ii) provision of new fare savers with cloud based central management system for MTR; (iii) installation of external and in-saloon doorway closed circuit television (“ CCTV ”) system for light rail vehicles; and (iv) installation of optical fibre backbones for communication-based train control (“ CBTC ”) signalling systems in various railway lines.

機電工程解決方案及服務分部為本集團的最大業務分部。 截至二零二零年三月三十一日止年度，約82.3%的收益來 自該分部。第二大分部為機電工程保養服務。該分部的 收益由截至二零一九年三月三十一日止年度約28.4百萬港 元增加約21.1%至截至二零二零年三月三十一日止年度約 34.4百萬港元。於本年度，本集團已大致完成若干主要項 目，包括(i)於台灣桃園捷運以快速響應代碼（「 二維碼 」）、免 觸支付（包括VISA payWave、萬事達卡非接觸式及銀聯閃 付）整合移動支付應用；(ii)可根據港鐵雲端中央管理系統提 供新的港鐵特惠站；(iii)為輕鐵車輛外部及內部安裝閉路電 視（「 閉路電視 」）系統；及(iv)為多個鐵路線的通訊式列車控 制（「 通訊式列車控制 」）信號系統安裝光纖聯網。

During the year ended 31 March 2020, the Group has submitted 325 tenders and quotations to our customers (2019: 384 tenders) with 165 contracts being awarded (2019: 175 contracts) including (i) several subcontracts in relation to the replacement works of the CCTV systems in various railway lines; (ii) maintenance services contract for AFC Equipment at MTR Shatin to Central Link; and (iii) a project in relation to the replacement and upgrading of AFC gates and ticket issuing machines at various railway lines (the “ Project ”). The Project amounting to approximately HK$441.6 million will last for approximately 8 years. KML Engineering Limited (“ KML Engineering ”), together with another contractor have been jointly awarded the contract to carry out the Project which includes the replacement and upgrade of AFC equipment, the retrofit and upgrade of gates, ticket machines, self-service point, first class processors to support multiple electronic payment system, accepting new payment methods including but not limited to QR Code based payment and contactless credit cards; thus bringing the travelers fresh and intelligent journey experience, and we are expected to carry out approximately 30% of the Project works. The Group will continue to grasp opportunities at the existing E&M market among those emerging opportunities while at the same time explore and expand our clientele as well as diversify our business into other emerging markets.

截至二零二零年三月三十一日止年度，本集團已向客戶提 交325項投標及報價（二零一九年：384項投標），獲授165 份合約（二零一九年：175份合約），包括(i)數份有關於多 個鐵路線更換閉路電視系統工程的分包合約；(ii)位於港鐵 沙田至中環線的自動收費設備的保養服務合約；及(iii)有 關於多個鐵路線替換及升級自動收費閘門及售票機的項目 （「 該項目 」）。該項目的總額約為441.6百萬港元，將持續約 8年。高明科技工程有限公司（「 高明科技工程 」）連同另一 名承建商共同獲授合約執行該項目，包括替換及升級自動 收費設備、改裝及升級閘門、售票機、自助客務機及頭等 核准器，以支援多個電子支付系統，接受新的支付方式， 包括但不限於以二維碼為基礎的支付方式及非接觸式信用 卡；因此為旅客帶來新鮮及智能的旅程體驗，而且我們預 期執行該項目約30%的工程。本集團將繼續在該等新興機 會中把握現有機電市場的機會，同時發掘及擴大客戶基礎 以及使業務多元化至其他新興市場。

In March 2020, KML Engineering has marched in to the Hong Kong Science and Technology Park. The brand-new working environment is anticipated to catalyse our research and development activities on the pipeline, such as mobile payment apps, smart maintenance platform, embedding Internet of Things (“ IoT ”) technology and Artificial Intelligence (“ AI ”) enhanced user interfaces into our next generation of product lines. It will reinforce our ability to adopt the state-of-the-art technologies into our future product and service platform. It will certainly enable us to seize the business opportunities brought about by the trend of fast-growing smart cities.

於二零二零年三月，高明科技工程已進駐香港科技園。全 新的工作環境預期將促進我們在進行中的研發活動，如 移動支付應用程序、智能維護平台、嵌入式物聯網（「 物聯 網 」）技術及人工智能（「 人工智能 」）增強用戶界面至下一代 產品線。其將增強我們將最先進技術應用於我們的未來產 品及服務平台的能力，亦將使我們能夠抓住快速發展智能 城市趨勢帶來的商機。

8 KML Technology Group Limited • Annual Report 2019/20

Management Discussion and Analysis 管理層討論及分析

OUTLOOK

The Group has been providing a full spectrum of E&M engineering solutions and services including development, design, fabrication, installation and maintenance for our customers. Apart from the existing business, the Group has been and will continue to expand our business scope as well as explore different market sectors. At April 2020, KML Engineering has been successfully admitted to the List of Approved Suppliers of Materials and Specialist Contractors for Public Works under the category of Video Electronics Installation. The Group expects that we could expand our market portfolio by undertaking more projects in relation to the video electronics and CCTV.

Besides, to align with the recent initiative of early deployment of the fifth generation of wireless technologies (“ 5G ”) by the Hong Kong Special Administrative Region (“ HKSAR ”) Government, the Group will expediate the research and development in this area particularly with the application of smart maintenance. We expect that by having less machine downtime, higher product quality, predictive maintenance and more informed decision making would benefit our customers both economically and operationally.

The unexpected significant influence from the outbreak of novel coronavirus across the world brings uncertainties and challenges to the Group. The Group will closely monitor the situation and will notify the stakeholders of the Company from time to time in relation to the situation affecting the Group.

FINANCIAL REVIEW

Revenue

Revenue of the Group for the year ended 31 March 2020 amounted to approximately HK$224.2 million, representing an increase of approximately HK$13.6 million or approximately 6.5% as compared with approximately HK$210.6 million for the year ended 31 March 2019. Such increase was mainly contributed by (i) an increase of revenue generated from maintenance contracts; and (ii) recognition of revenue from a contract with relatively substantial contract value during the year.

Cost of Sales and Gross Profit

The majority of the Group’s cost of sales comprised (i) material and equipment; (ii) direct labour; and (iii) sub-contracting cost. The cost of sales increased by approximately 5.8% from approximately HK$144.5 million for the year ended 31 March 2019 to approximately HK$152.9 million for the year ended 31 March 2020. The increase in cost of sales was mainly due to the increase in the number of projects undertaken by the Group during the year. The gross profit of the Group increased by approximately 7.9% from approximately HK$66.1 million for the year ended 31 March 2019 to approximately HK$71.3 million for the year ended 31 March 2020. The increase in gross profit was mainly due to (i) the increase in revenue as discussed above; and (ii) a relative reduction of cost of sales.

Administrative Expenses

The Group’s administrative expenses increased by approximately 5.7% from approximately HK$43.6 million for the year ended 31 March 2019 to approximately HK$46.1 million for the year ended 31 March 2020. Such increase was mainly due to (i) an increase of professional and legal fees; and (ii) additional consultancy fee incurred in relation to the preparation of tender submission.

前景

本集團提供全面的機電工程解決方案及服務，包括為客戶 開發、設計、裝配、安裝及維護。除現有業務外，本集團 已經並將繼續擴展業務範疇以及探索不同的市場領域。於 二零二零年四月，高明科技工程已成功獲納入認可公共工 程物料供應商及專門承造商名冊中視像裝置類別。本集團 預期我們可透過承接更多有關視頻電子及閉路電視的項目 而擴大我們的市場組合。

此外，為符合香港特別行政區（「 香港特區 」）政府近期有關 第五代無線技術（「 5G 」）的早期部署的倡議，本集團將加快 該領域的研發，尤其是智能維修的應用。我們預期，透過 減少停機時間、提高產品質量、預測維護及作出更多知情 決定將使客戶在經濟上及操作上均獲益。

全球爆發新型冠狀病毒產生的意料之外的重大影響對本集 團帶來不確定因素及挑戰。本集團會將密切監察形勢，並 將不時知會本公司持份者有關影響本集團的情況。

財務回顧

收益

本集團截至二零二零年三月三十一日止年度的收益約為 224.2百萬港元，較截至二零一九年三月三十一日止年度的 約210.6百萬港元增加約13.6百萬港元或約6.5%。有關增 加主要由於(i)維修合約產生的收益增加；及(ii)年內確認合 約價值相對較大的合約的收益。

銷售成本及毛利

本集團的主要銷售成本包括(i)物料及設備；(ii)直接勞工； 及(iii)分包成本。銷售成本由截至二零一九年三月三十一日 止年度約144.5百萬港元增加約5.8%至截至二零二零年三 月三十一日止年度約152.9百萬港元。銷售成本增加主要由 於本集團於年內承接的工程項目數量增加。本集團毛利由 截至二零一九年三月三十一日止年度約66.1百萬港元增加 約7.9%至截至二零二零年三月三十一日止年度約71.3百萬 港元。毛利增加主要由於(i)上文所討論收益增加；及(ii)銷 售成本相對減少。

行政開支

本集團行政開支由截至二零一九年三月三十一日止年度約 43.6百萬港元增加約5.7%至截至二零二零年三月三十一日 止年度約46.1百萬港元。有關增加主要由於(i)專業及法律 費用增加；及(ii)為準備提交投標而產生的額外顧問費用。

9

高萌科技集團有限公司 • 二零一九/ 二零年年報

Management Discussion and Analysis 管理層討論及分析

Profit attributable to the owners of the Company

The Group recorded net profit attributable to the owners of the Company of approximately HK$21.6 million for the year ended 31 March 2020 (2019: net profit approximately HK$19.3 million).

FINANCIAL POSITION

Liquidity, Financial Resources and Capital Structure

Historically, the Group has met the liquidity and capital requirements primarily through operating cash flows and capital contribution from its shareholders.

The Group requires cash primarily for working capital needs. As at 31 March 2020, the Group had approximately HK$83.0 million in (i) bank balances and cash; and (ii) time deposits with original maturity over three months (2019: approximately HK$77.0 million), representing an increase of approximately HK$6.0 million as compared to that as at 31 March 2019.

On 16 October 2017 (the “ Listing Date ”), the ordinary shares of the Company (the “ Share(s) ”) were successfully listed on GEM. There has been no change on the capital structure of the Group for the year ended 31 March 2020 and up to the date of this report (i.e. 18 June 2020) (the “ Date of this Report ”). The share capital of the Company only comprises of ordinary shares.

As at 31 March 2020, the issued share capital of the Company was HK$4,000,000 divided into 400,000,000 Shares of HK$0.01 each.

Capital Expenditure

The Group purchased property, plant and equipment amounting to approximately HK$4.8 million for the year ended 31 March 2020 which comprised acquisition of furniture, fixtures and office equipment (2019: approximately HK$0.8 million).

Final Dividend

The Board recommends the payment of a final dividend of HK2.0 cents per Share for the year ended 31 March 2020 (2019: Nil).

Employees and Remuneration Policies

As at 31 March 2020, the Group employed 199 employees (2019: 202 employees). The Group’s remuneration policies are in line with the prevailing market practice and are determined on the basis of performance, qualification and experience of individual employee. On top of basic salaries, bonus may be paid with reference to the Group’s performance as well as individual’s performance. Other staff benefits include provision of retirement benefits, medical and life insurance benefits. Share options and/or share awards may also be granted to eligible employees by reference to the Group’s performance as well as the individual contribution.

本公司擁有人應佔溢利

截至二零二零年三月三十一日止年度，本集團錄得本公司 擁有人應佔淨溢利約21.6百萬港元（二零一九年：淨溢利約 19.3百萬港元）。

財務狀況

流動資金、財務資源及資本架構

過往，本集團主要透過經營現金流量及股東注資滿足其流 動資金及資本需求。

本集團主要需要現金應付營運資金需要。於二零二零年三 月三十一日，本集團有(i)銀行結餘及現金；及(ii)原到期日 超過三個月的定期存款合共約83.0百萬港元（二零一九年︰ 約77.0百萬港元），較於二零一九年三月三十一日增加約 6.0百萬港元。

於二零一七年十月十六日（「 上市日期 」），本公司普通股 （「 股份 」）成功於GEM上市。於截至二零二零年三月三十一 日止年度及直至本報告日期（即二零二零年六月十八日） （「 本報告日期 」），本集團股本架構並無任何變動。本公司 股本僅包括普通股。

於二零二零年三月三十一日，本公司已發行股本為 4,000,000港元，分為400,000,000股每股0.01港元的股 份。

資本開支

於截至二零二零年三月三十一日止年度，本公司購買金額 約4.8百萬港元的物業、廠房及設備，當中包括購買傢俱、 裝置及辦公室設備（二零一九年：約0.8百萬港元）。

末期股息

董事會建議派付截至二零二零年三月三十一日止年度的末 期股息每股2.0港仙（二零一九年︰無）。

僱員及薪酬政策

於二零二零年三月三十一日，本集團僱用199名僱員（二零 一九年︰202名僱員）。本集團的薪酬政策與當前市場慣例 一致及根據個別僱員的表現、資歷及經驗而釐定。除基本 薪金外，經參考本集團的表現及個人的表現後，或會派發 花紅。其他員工福利包括提供退休福利、醫療及人壽保險 福利。經參考本集團表現及個人貢獻後，亦或會向合資格 僱員授出購股權及╱或股份獎勵。

10 KML Technology Group Limited • Annual Report 2019/20

Management Discussion and Analysis 管理層討論及分析

Comparison of Business Objectives with Actual Business Progress

An analysis comparing the business objectives as set out in the Company’s prospectus dated 29 September 2017 (the “ Prospectus ”) with the Group’s actual business progress for the period from the Listing Date to 31 March 2020 is set out below:

業務目標與實際業務進展之比較

載於本公司日期為二零一七年九月二十九日的招股章程 （「 招股章程 」）之業務目標與本集團由上市日期至二零二零 年三月三十一日止期間之實際業務進展之比較分析如下：

Business strategy

Actual business progress up to 31 March 2020

業務策略 截至二零二零年三月三十一日止的實際業 務進展

Expand and enhance our E&M engineering The Group has purchased several fibre cable testing technical capabilities by: related equipment in order to maintain our competitiveness in the railway sector as the Group anticipates that E&M (i) Increasing our productivity through engineering systems in the railways will rely increasingly on the purchase of new machineries and optical fibre networks to transfer relevant system data in equipment; the future.

• 透過以下方式擴大及提高我們的機電 本集團已採購若干光纖電纜測試相關設備 工程技術能力： 以維持我們於鐵路行業的競爭力，因本集 團預期鐵路的機電工程系統將愈來愈依賴

• (i) 通過採購新機器及設備增加我們 光學纖維網絡以於未來傳送相關系統數 的生產力； 據。

• (ii) Improving our material handling and The Group has enhanced our insurance coverage and field service capacity; employee remuneration packages, including (i) upgrading of employees’ medical insurance plan; (ii) purchasing of

• (iii) Purchasing and implementing the Group’s professional indemnity insurance plan; (iii) information technology solutions; and purchasing of the Group’s product liability insurance plan; and (iv) providing funds for the employees’ performance

• (iv) Retaining our talents and enhancing bonus scheme. the risk mitigation measures.

The Group has rented additional space and storage facilities to cater for additional space required for operation and to accommodate the new machineries and equipment to be purchased.

• (ii) 提高我們的物料處理及現場施工 本集團已擴大保險覆蓋範圍及提高僱員薪 能力； 酬待遇，包括(i)升級僱員醫療保險計劃； (ii)投購本集團的專業責任保險計劃；(iii)投

• (iii) 採購及執行資訊科技解決方案； 購本集團的產品責任保險計劃，及(iv)為僱 及 員績效獎金計劃提供資金。

• (iv) 挽留人才及加強風險緩減措施。

• 本集團已租用額外場所及存儲設施迎合營 運所需的額外空間及容納將予購買的新機 器及設備。

The Group has purchased four vehicles to increase our travelling efficiency and allow our project teams to transport additional spare parts and equipment for use in our operations.

本集團已購買四輛汽車增加我們的運輸效 率及可使我們的項目團隊運輸額外零件及 設備以供營運使用。

Deepen our penetration of the E&M The Group has (i) arranged our employees to participate engineering industry with special focus on in exhibitions, conference and symposiums; and (ii) been the Transportation Mission Critical System making an effort to increase business exposure in Taiwan. Solutions market by strengthening our research and development capabilities and The Group has produced corporate and promotional video increasing our brand awareness through in order to increase our corporate image as well as brand marketing efforts through: awareness.

• 通過增強我們的研發能力及透過營銷 本集團已(i)安排僱員參與展覽會、會議及 手段提高我們的品牌認知度加深對機 研討會；及(ii)盡力擴展台灣的業務。 電工程行業（特別專注於交通關鍵系統 解決方案市場）的滲透率，方式為：

本集團已製作企業宣傳視頻，以提升我們 的企業形象以及品牌意識。

• (i) Expanding our office space and work The Group has purchased three-dimensional design area; software, enabling us to create three dimensional drawings and designs for our products.

• (ii) Increasing our marketing efforts and business exposure; and The Group has purchased additional computer hardware and software, enhancing the development of electronic

• (iii) Enhancement of our research and payment system. development capabilities.

The Group has marched in to the Hong Kong Science and Technology Parks.

• (i) 擴大辦公室及工作空間； 本集團已購買三維設計軟件，可使我們為 產品創建三維圖紙及設計。

• (ii) 加大我們的營銷效能及推廣我們 的業務；及 本集團已購買額外的電腦硬件及軟件，以 增強電子付款系統的開發。

• (iii) 提高我們的研發能力。

本集團已進駐香港科技園。

The Group is in the process of (i) recruiting additional marketing staff; and (ii) setting up the marketing and demonstration area.

本集團正在(i)招募額外營銷人員；及(ii)設 立營銷及展示區。

Strengthen our financial capabilities to The Group has further enhanced our banking facilities in undertake larger-scale E&M engineering order to improve the provision of performance guarantees projects in the future. such that the Group could undertake largescale E&M engineering projects.

• 增強我們日後承接較大型機電工程項 本集團已進一步增加銀行融資以改善提供 目的財政實力。 履約擔保，以使本集團可承接大型機電工 程項目。

高萌科技集團有限公司 • 二零一九/ 二零年年報

11

Management Discussion and Analysis 管理層討論及分析

Use of Proceeds from the Listing

On 16 October 2017, the Shares were listed on GEM by way of Share Offer. The Group intends to apply the proceeds from the Listing in accordance with the proposed applications set out in the section headed “Future Plans and Use of Proceeds” in the Prospectus.

上市所得款項用途

於二零一七年十月十六日，股份以股份發售方式在GEM上 市。本集團擬將上市所得款項按招股章程內「未來計劃及所 得款項用途」一節所載的擬定用途使用。

As set out in the Prospectus, the business objectives and strategies of the Group are: (i) to expand and enhance our E&M engineering technical capability; (ii) to deepen our penetration of the Hong Kong E&M engineering industry with special focus on the Transportation Mission Critical System Solutions market by strengthening our research and development capabilities and increasing our brand awareness through marketing efforts; and (iii) to strengthen the Group’s financial capabilities to undertake larger scale E&M engineering projects in the future.

誠如招股章程所載，本集團的業務目標及策略為：(i)擴大 及提高我們的機電工程技術能力；(ii)通過增強我們的研發 能力及透過營銷手段提高我們的品牌認知度加深對香港機 電工程行業（特別專注於交通關鍵系統解決方案市場）的滲 透率；及(iii)增強本集團日後承接較大型機電工程項目的財 政實力。

After deduction of all related listing expenses and commissions, the net proceeds from Listing amounted to approximately HK$36.0 million. The Board resolved on 10 July 2019 to change the intended use of part of the net proceeds from Listing. For further details, please refer to the announcement of the Company dated 10 July 2019.

經扣除所有相關上市開支及佣金後，上市所得款項淨額約 為36.0百萬港元。董事會議決於二零一九年七月十日更改 部分上市所得款項淨額的擬定用途。有關進一步詳情，請 參閱本公司日期為二零一九年七月十日之公告。

The net proceeds have been utilised in a manner consistent with the disclosures set out in the Prospectus and the said announcement of the Company dated 10 July 2019. An analysis of the planned usage of net proceeds, the actual utilisation of the net proceeds from the Listing Date up to 31 March 2020, the revised use of net proceeds and the expected time line for utilising the remaining unused net proceeds are set out as below:

所得款項淨額已按招股章程及本公司日期為二零一九年七 月十日的上述公告所披露之方式動用。所得款項淨額的計 劃用途、自上市日期起至二零二零年三月三十一日止所 得款項淨額的實際用途、所得款項淨額的經修訂用途及動 用餘下尚未使用所得款項淨額的預期時間表的分析載列如 下：

						Expected
						timeline
		Planned use				for utilising
		of net proceeds		Actual use of net	Unutilised net	the remaining
		as stated in the	Revised use	proceeds up to	proceeds as at	unused net
		Prospectus	of net proceeds	31 March 2020	31 March 2020	proceed
				直至二零二零年	於二零二零年
		招股章程所載	所得款項	三月三十一日	三月三十一日的	動用餘下尚
		所得款項淨額	淨額的	所得款項淨額	未動用所得	未使用所得款項
		的計劃用途	經修訂用途	的實際用途	款項淨額	淨額的預期時間表
		HK$’000	HK$’000	HK$’000	HK$’000
		千港元	千港元	千港元	千港元
Expand and enhance our E&M engineering	擴大及提高我們的機電工程技術能力	17,952	9,601	7,438	2,163	From
technical capabilities						1 April 2020 to
						31 March 2021
						自二零二零年
						四月一日起至
						二零二一年
						三月三十一日
Deepen our penetration of the Hong Kong E&M	通過增強我們的研發能力及透過	9,252	8,603	3,011	5,592	From
engineering industry with special focus on the	營銷手段提高我們的品牌認知度					1 April 2020
Transportation Mission Critical System Solutions	加深對香港機電工程行業（特別					to 31 March 2021
market by strengthening our research and	專注於交通關鍵系統解決方案市場）的					自二零二零年
development capabilities and increasing our brand	滲透率					四月一日起至
awareness through marketing efforts						二零二一年
						三月三十一日
Strengthen our financial capabilities to undertake	增強我們日後承接較大型機電工程項目	6,000	15,000	15,000	–	Not applicable
larger-scale E&M engineering projects in the future	的財政實力					不適用
Working Capital and other general corporate	營運資金及其他一般公司用途	2,796	2,796	2,796	–	Not applicable
purposes						不適用
Total	合共	36,000	36,000	28,245	7,755

12 KML Technology Group Limited • Annual Report 2019/20

Management Discussion and Analysis 管理層討論及分析

GEARING RATIO

The ratio was not applicable for the year ended 31 March 2020 as no borrowing was incurred (2019: Nil).

FOREIGN EXCHANGE EXPOSURE

We conducted business with customers, suppliers and subcontractors located in Hong Kong, the People’s Republic of China (the “ PRC ”) and overseas. The Group’s exposure to the currency risk mainly arises from the fluctuation of Renminbi (“ RMB ”), Euro (“ EUR ”) or United States dollars (“ USD ”). The Group currently does not have any hedging policy in place for its foreign currency exposure. The management will consider hedging significant currency exposure should the need arise.

TREASURY POLICIES

The Group has adopted a prudent financial management approach towards its treasury policies and thus maintained a healthy liquidity position throughout the year ended 31 March 2020. The Group strives to reduce exposure to credit risk by performing ongoing credit assessments and evaluations of the financial status of its customers. To manage liquidity risk, the Board closely monitors the Group’s liquidity position to ensure that the liquidity structure of the Group’s assets, liabilities and other commitments can meet its funding requirements from time to time.

SIGNIFICANT INVESTMENTS AND FUTURE PLANS FOR MATERIAL INVESTMENTS AND CAPITAL ASSETS

The Group did not hold any significant investments in equity interest in any other companies as at 31 March 2020. Except for those included in the section headed “Future Plans and Use of Proceeds” in the Prospectus, the Group had no definite future plans for material investments and capital assets.

MATERIAL ACQUISITIONS AND DISPOSALS OF SUBSIDIARIES, ASSOCIATES OR JOINT VENTURES

There were no other significant investments held, material acquisitions or disposals of subsidiaries, associates or joint ventures during the year ended 31 March 2020.

PLEDGES OF ASSETS

As at 31 March 2020, the Group pledged certain amount of bank deposits and investments in life insurance policies to secure general banking facilities granted to the Group. For details, please refer to notes 15 and 20 to the consolidated financial statements.

COMMITMENTS

The Group did not have any capital commitments or operating lease commitments as at 31 March 2020 (2019: operating lease commitments amounted to approximately HK$5.9 million).

資產負債比率

截至二零二零年三月三十一日止年度並不適用該比率，因 並無產生借貸（二零一九年：無）。

外匯風險

我們與香港、中華人民共和國（「 中國 」）及海外客戶、供應 商及分包商均有業務往來。本集團所面臨的貨幣風險主要 來自人民幣（「 人民幣 」）、歐元（「 歐元 」）或美元（「 美元 」）的 波動。目前本集團並無進行任何對沖政策以應對外幣風 險。如有需要，管理層將考慮對沖重大外幣風險。

庫務政策

本集團的庫務政策採納穩健的財務管理方針，因此，於截 至二零二零年三月三十一日止年度，流動資金狀況均處於 健康水平。本集團致力透過持續進行信貸評估及評估客戶 的財務狀況，降低所承受的信貸風險。為管理流動資金風 險，董事會密切監察本集團的流動資金狀況，確保本集團 資產、負債及其他承擔組成的流動資金架構能應付不時的 資金需要。

重大投資與重大投資及資本資產的未來計劃

於二零二零年三月三十一日，本集團並無於任何其他公司 的股本權益持有任何重大投資。除招股章程內「未來計劃及 所得款項用途」一節所載者外，本集團並無有關重大投資及 資本資產的明確未來計劃。

附屬公司、聯營公司或合營公司的重大收購及出售

於截至二零二零年三月三十一日止年度並無持有其他重大 投資，亦並無有關附屬公司、聯營公司或合營公司的重大 收購或出售。

資產抵押

於二零二零年三月三十一日，本集團抵押若干金額的銀行 存款及人壽保單中的投資以獲得授予本集團的一般銀行融 資。有關詳情，請參閱綜合財務報表附註15及附註20。

承擔

於二零二零年三月三十一日，本集團並無任何資本承擔或 經營租賃承擔（二零一九年：經營租賃承擔約為5.9百萬港 元）。

13

高萌科技集團有限公司 • 二零一九/ 二零年年報

Management Discussion and Analysis 管理層討論及分析

CONTINGENT LIABILITIES

或然負債

As at 31 March 2020, the Group did not have any significant contingent liabilities (2019: Nil).

• 於二零二零年三月三十一日，本集團並無任何重大或然負 債（二零一九年：無）。

PRINCIPAL RISKS AND UNCERTAINTIES

主要風險及不確定性

For the year ended 31 March 2020, the following principal risks of the Group were identified:

截至二零二零年三月三十一日止年度，本集團已識別下列 主要風險：

• (i) The Group relies on a few number of key customers. The loss of one key customer could have a significant impact on the Group’s income;

• (i) 本集團依賴若干主要客戶。失去一名主要客戶可能 對本集團的收入產生重大影響；

• (ii) Technologies are rapidly changing. If the Group fails to keep up with the technological advancement, it could jeopardise our competitiveness in the industry;

• (ii) 技術發展瞬息萬變。倘本集團未能緊跟技術提升， 則可能損害我們於行業中的競爭力；

• (iii) In view of the novel coronavirus, if there is an outbreak at our workplace, it would result in a high level of absenteeism of employees, and may eventually lead to business disruption or project delay;

• (iii) 鑒於新型冠狀病毒，倘於我們的工作場所爆發，將 導致大量僱員缺勤，且可能最終導致業務中斷或項 目延遲；

• (iv) If the Group is unable to monitor and implement work safety measures at project sites effectively, its reputation could be adversely affected in the event that serious injuries and casualties occur; and

• (iv) 倘本集團未能於項目地盤有效地監察及執行工作安 全措施，在發生嚴重傷亡事故的情況下，其聲譽可 能受到不利影響；及

• (v) We are facing challenges in identifying competent candidates with the right qualification, experience and background as successors of senior management positions. If we are unable to develop, attract and retain staff with capabilities and commitment needed, achievement of long run objectives may be jeopardised.

• (v) 我們於識別具有合適資格、經驗及背景的可勝任候 選人擔任高級管理層職務的繼任人時面臨挑戰。倘 我們未能發展、吸引及挽留具有所需能力及承擔的 員工，長期目標的實現可能受到損害。

Our Risk Control Mechanism

The Group has adopted a three-tier risk management approach to identify, assess, mitigate and handle risks. At the first line of defence, operating units are responsible for identifying and monitoring risks associated with each business. The management, as the second line of defence, defines rules and models, provides technical support, develops new systems and oversees portfolio management. It ensures that risks are within acceptable range and that the first line of defence is effective. As the final line of defence, the risk management committee of the Company (the “ Risk Management Committee ”), with the professional and independent advice from the internal audit function ensures the first and second line of defence are effective through constant inspection and monitoring.

風險控制機制

本集團已採納三層風險管理方法以識別、評估及降低及應 對風險。在第一道防線，營運組別負責識別及監察與各項 業務相關的風險。管理層（作為第二道防線）界定規則及模 式、提供技術支援、開發新系統及監督投資組合管理。 其確保風險處於可接受範圍內及第一道防線為有效。作為 最後一道防線，本公司的風險管理委員會（「 風險管理委員 會 」），加上來自內部審計職能的專業及獨立意見，透過不 斷視察及監控而確保第一道及第二道防線有效。

The Group maintains a risk register to keep track of all identified major risks of the Group. The risk register provides the Board, the Risk Management Committee and management with a profile of its major risks and records management’s action taken to mitigate the relevant risks. The risk register will be reviewed and monitored at least annually. The review process ensures that the Group proactively manages the risks faced by it.

本集團設立風險登記冊以跟踪本集團所有已識別主要風 險。風險登記冊為董事會、風險管理委員會及管理層提供 其主要風險情況，並記錄管理層為降低相關風險所採取的 行動。每年至少檢討及監察風險管理冊一次。此檢討程序 可確保本集團主動管理其所面臨的風險。

14 KML Technology Group Limited • Annual Report 2019/20

Directors and Senior Management 董事及高級管理層

EXECUTIVE DIRECTORS

Mr. Luk Kam Ming (陸鑑明) (“Mr. KM Luk”) , aged 73, is an Executive Director and the chairman of our Board. Mr. KM Luk founded our Group and joined us when he was appointed as a director of KML Engineering in August 1977. Mr. KM Luk is responsible for overall strategic planning and development of our Group, and oversees the financial management and planning of our Group. He is also the chairman of the Nomination Committee, and a member of the Remuneration Committee.

Mr. KM Luk has more than 50 years of experience in the E&M engineering industry, with a focus on the development of automatic fare collection and railway transportation control systems. In August 1977, Mr. KM Luk founded KML Engineering, the principal subsidiary of our Group as a contractor for providing services in the fields of electrical power engineering, signalling and communication engineering, and computerbased toll collection systems, etc.

Mr. KM Luk was registered as a Chartered Engineer (CEng) by The Institution of Electronic and Radio Engineers, the United Kingdom, a Chartered Engineer by the Council of Engineering Institutions, the United Kingdom. He is admitted a member and registered as a Chartered Electrical Engineer by The Institution of Electrical Engineers (currently known as the Institution of Engineering and Technology), the United Kingdom, and a Chartered Engineer by the Council of Engineering institutions, the United Kingdom. He is also admitted as a member of the Hong Kong Institution of Electrical Engineers, a member of Institution of Railway Signal Engineers, and a member of Hong Kong Association of Energy Engineers. He was nominated as the Country Vice President of Institution of Railway Signal Engineers for Hong Kong, China in March 2011.

Mr. KM Luk is the father of Mr. Luk Kwai Lung (“ Mr. KL Luk ”) and Mr. Luk Yin Cheung (“ Mr. YC Luk ”), both our Executive Directors. Mr. KM Luk is also the spouse of Ms. Leung Kwok Yee (“ Madam Leung ”), our controlling Shareholder, and the father-in-law of Ms. Woo Siu Wai (“ Ms. Woo ”), our company secretary.

執行董事

陸鑑明先生 （「 陸鑑明先生 」），73歲，執行董事及董事會主 席。陸鑑明先生於一九七七年八月創辦並加入本集團，獲 委任為高明科技工程的董事。陸鑑明先生負責本集團的整 體策略規劃及發展以及監督本集團的財務管理及規劃。彼 亦為提名委員會主席及薪酬委員會成員。

陸鑑明先生於機電工程行業擁有逾50年的經驗，專注於 開發自動收費系統及鐵路交通監控系統。於一九七七年八 月，陸鑑明先生創辦高明科技工程（本集團的主要附屬公 司），作為於電力工程、信號及通訊工程以及電腦收費系統 等領域提供服務的承辦商。

陸鑑明先生於英國電子及無線工程師協會註冊為特許工程 師及於英國工程師協會註冊為特許工程師。彼獲英國電氣 工程師協會（現稱為英國工程技術學會）認可為會員及註冊 為特許電機工程師及於英國工程師學會委員會註冊為特許 工程師。彼亦獲認可為香港電氣工程學會會員，鐵路信號 工程師協會會員及香港能源工程師協會會員。於二零一一 年三月，彼獲提名為鐵路信號工程師協會副會長（中國香 港）。

陸鑑明先生為兩名執行董事陸季農先生（「 陸季農先生 」）及 陸彥彰先生（「 陸彥彰先生 」）的父親。陸鑑明先生亦為本公 司控股股東梁幗儀女士（「 梁女士 」）的配偶，及本公司的公 司秘書胡劭卉女士（「 胡女士 」）的家翁。

高萌科技集團有限公司 • 二零一九/ 二零年年報

15

Directors and Senior Management 董事及高級管理層

Mr. Chan Chak Lun Philip (陳澤麟) , aged 58, is an Executive Director and our chief executive officer. Mr. Chan is responsible for overseeing the daily operations and overall general management of our Group. Mr. Chan is also a member of the Risk Management Committee.

Mr. Chan has more than 30 years of experience in E&M engineering. He joined KML Engineering in October 1987. Since then, he has served our Group in various capacities including engineer, general manager of advanced products department, the operation director and the managing director of KML Engineering.

Mr. Chan has been a director of KML Engineering since June 1991. He is a technical director and one of the authorised signatories appointed by KML Engineering for its qualification as a Registered Minor Works Contractor for Type A and Type C of Class II & III under the Buildings Ordinance.

Mr. Chan obtained a degree of Bachelor of Engineering with first class honours in mechanical engineering from the Newcastle University (formerly known as “University of Newcastle upon Tyne”), the United Kingdom and a degree of Master of Science in Engineering from The University of Hong Kong, Hong Kong. He was admitted as associate member of the Hong Kong Institution of Engineers, a member of The Institution of Electrical Engineers (currently known as the Institution of Engineering and Technology), the United Kingdom and registered as a Chartered Engineer (CEng) by the Engineering Council (UK). He was elected as a member of the Institution of Mechanical Engineers, the United Kingdom. He is also a member of The Hong Kong Institute of Directors.

Mr. Luk Kwai Lung (陸季農) , aged 43, is an Executive Director. Mr. KL Luk is responsible for overseeing the business development and marketing of our Group. Mr. KL Luk has been a director of KML Technology Limited (“ KML Technology ”) and KML Engineering since February 2012 and November 2015 respectively. Mr. KL Luk is one of the authorised signatories appointed by KML Engineering for its qualification as a Registered Minor Works for Type A of Class II & III under the Buildings Ordinance. Mr. KL Luk is also a member of the Risk Management Committee.

Mr. KL Luk joined our Group in January 2003 and appointed as deputy managing director in December 2015. He developed comprehensive experiences in process management in various departments in KML Engineering, and acted as the project manager for various projects undertaken by our Group in the past years.

陳澤麟先生 ，58歲，為執行董事及行政總裁。陳先生負責 監督本集團的日常營運及整體綜合管理。陳先生亦為風險 管理委員會成員。

陳先生擁有逾30年機電工程的經驗。彼於一九八七年十月 加入高明科技工程。自此，彼於本集團擔任多種職務，包 括工程師、先進產品部總經理、高明科技工程營運董事及 董事總經理。

陳先生自一九九一年六月起為高明科技工程的董事。彼為 技術董事並獲高明科技工程委任為授權簽署人之一，合資 格作為建築物條例下第II級別及第III級別A類型及C類型註冊 小型工程承建商。

陳先生取得英國紐卡斯爾特大學機械工程的工程學學士學 位（一級榮譽）及香港大學工程學理學碩士學位。彼獲認可 為香港工程師學會副會員、英國電氣工程師學會（現稱為英 國工程技術學會）會員及英國工程委員會註冊為特許工程 師。彼獲選為英國機械工程師協會會員。彼亦為香港董事 學會的會員。

陸季農先生 ，43歲，為執行董事。陸季農先生負責監督本 集團的業務發展及營銷。陸季農先生自二零一二年二月及 二零一五年十一月起分別擔任高萌科技有限公司（「 高萌科 技 」）及高明科技工程的董事。陸季農先生獲高明科技工程 委任為授權簽署人之一，合資格作為建築物條例下第II級別 及第III級別A類型註冊小型工程承建商。陸季農先生亦為風 險管理委員會成員。

陸季農先生於二零零三年一月加入本集團及於二零一五年 十二月獲委任為副董事總經理。彼於高明科技工程各部門 的流程管理方面累積了全方位的經驗，於過往數年亦曾經 擔任本集團承接的多個項目的項目經理。

16 KML Technology Group Limited • Annual Report 2019/20

Directors and Senior Management 董事及高級管理層

Mr. KL Luk obtained a degree of Bachelor of Science in hotel administration from University of Nevada, Las Vegas, the United States, a degree of Master of Science in administrative studies from Boston University, the United States, and a degree of Master of Science in engineering business management from the Hong Kong Polytechnic University, Hong Kong. He is a member of The Hong Kong Institute of Directors.

Mr. KL Luk is a son of Mr. KM Luk, our founder, Executive Director and chairman of our Board, and the elder brother of Mr. YC Luk, an Executive Director. Mr. KL Luk is the elder son of Madam Leung, our controlling Shareholder, and the brother-in-law of Ms. Woo, our company secretary.

Mr. Luk Yin Cheung (former name is Luk Tit Cheung) (陸彥彰) , aged 41, is an Executive Director. Mr. YC Luk is responsible for overseeing the operation support of our Group, including sourcing and project administration of our Group. Mr. YC Luk has been a director of KML Technology and KML Engineering since February 2012 and November 2015 respectively. Mr. YC Luk is also a member of the Risk Management Committee.

Mr. YC Luk joined our Group in June 2006 and appointed as associate director in December 2015. In the past 11 years, Mr. YC Luk has gained vast experience in providing training on occupation safety, purchasing, inventory and logistics management in the E&M engineering industry.

Mr. YC Luk graduated with a degree of Bachelor of Business Administration from The University College of the Cariboo, Canada and Diploma in Marketing by The University of Hong Kong School of Professional and Continuing Education in association with the Chartered Institute of Marketing, Hong Kong. He was elected an affiliate member of The Chartered Institute of Logistics and Transport in Hong Kong and a member of The Hong Kong Institute of Directors. To promote the occupational safety of our Group, Mr. YC Luk also awarded a Diploma in Occupational Health and Safety by the Li Ka Shing Institute of Professional and Continuing Education, The Open University of Hong Kong.

Mr. YC Luk is a son of Mr. KM Luk, our founder, Executive Director and chairman of our Board, and the younger brother of Mr. KL Luk, an Executive Director. Mr. YC Luk is the younger son of Madam Leung, our controlling Shareholder, and the spouse of Ms. Woo, our company secretary.

陸季農先生取得美國內華達大學拉斯維加斯分校酒店管理 的理學學士學位、美國波士頓大學行政學的理學碩士學位 及香港理工大學工程商業管理理學碩士學位。彼為香港董 事學會會員。

陸季農先生為本集團創辦人、執行董事兼董事會主席陸鑑 明先生的兒子，及執行董事陸彥彰先生的胞兄。陸季農先 生為控股股東梁女士的長子，及公司秘書胡女士的大伯。

陸彥彰先生（前度名字為陸鐵鏘） ，41歲，為執行董事。陸 彥彰先生負責監督本集團的營運支援，包括本集團的採購 及項目行政。陸彥彰先生自二零一二年二月及二零一五年 十一月起分別為高萌科技及高明科技工程的董事。陸彥彰 先生亦為風險管理委員會成員。

陸彥彰先生於二零零六年六月加入本集團並於二零一五年 十二月獲委任為副董事。於過往十一年，陸彥彰先生於機 電工程行業提供職業安全培訓、採購、存貨及物流管理方 面積累了豐富經驗。

陸彥彰先生畢業於加拿大加里布大學，取得工商管理學士 學位及獲香港大學專業進修學院（與英國特許市務學會聯 營）頒發的營銷深造文憑。彼獲選為香港運輸物流學會普通 會員及香港董事學會會員。為促進本集團的職業安全，陸 彥彰先生亦獲得香港公開大學李嘉誠專業進修學院頒發的 職業健康及安全文憑。

陸彥彰先生為本集團創辦人、執行董事兼董事會主席陸鑑 明先生的兒子及執行董事陸季農先生的胞弟。陸彥彰先生 為控股股東梁女士的幼子，及公司秘書胡女士的配偶。

高萌科技集團有限公司 • 二零一九/ 二零年年報

17

Directors and Senior Management 董事及高級管理層

INDEPENDENT NON-EXECUTIVE DIRECTORS

Mr. Lau On Kwok (劉安國) , aged 53, was appointed as an Independent Non-executive Director on 20 September 2017. Mr. Lau is the chairman of the Audit Committee and a member of each of the Risk Management Committee and the Remuneration Committee.

Mr. Lau has extensive experience in the fields of financial management, corporate governance and direct investment. He started his career as accounting professional in an international accountancy firm. Mr. Lau was an executive director at China Assets Investment Management Limited and was also the company secretary and a member of investment committee of China Assets (Holdings) Limited, a company previously listed on the Stock Exchange (stock code: 170) from April 2004 to December 2010. He was a director of Shandong Lukang Pharmaceutical Company Limited, the shares of which are listed on the Shanghai Stock Exchange (stock code: 600789), from May 2007 to April 2012. From May 2009 to January 2011, Mr. Lau was an independent non-executive director of Sheng Yuan Holdings Limited, a company listed on the Stock Exchange (stock code: 0851). He was employed by Sheng Yuan Asset Management Limited from January 2011 to August 2014, where his last position was executive director. He also assumed the duties of the managing director of Sheng Yuan Investment Advisors Limited from January 2011 to December 2013. Mr. Lau was the company secretary and financial controller at Winshine Science Company Limited, a company listed on the Stock Exchange (stock code: 209), from November 2014 to November 2018. Mr. Lau has been a director of China Assets (Holdings) Limited and a director of China Assets Investment Management Limited since October 2018.

Mr. Lau obtained a degree of Bachelor of Arts in accounting and financial analysis from the Newcastle University (formerly known as “University of Newcastle upon Tyne”) and a degree of Master of Science in financial management from University of London. He also obtained a Diploma on Practices in Chinese Laws and Regulations affecting Foreign Business jointly awarded by Southwest University of Political Science and Law and the Hong Kong Management Association.

Mr. Lau is an associate member of the Hong Kong Institute of Certified Public Accountants and a fellow of The Association of Chartered Certified Accountants, the United Kingdom.

Mr. Law Wing Chi Stephen (羅永志) , aged 50, was appointed as an Independent Non-executive Director on 20 September 2017. Mr. Law is the chairman of the Risk Management Committee, and a member of each of the Audit Committee and the Nomination Committee.

Mr. Law has extensive experience in financial management and professional accounting. He was the chief finance officer of Diamondlite Limited, one of the leading jewellery manufacturer in the PRC. Having started his career as a professional accountant in an international accountancy firm, Mr. Law has undertaken key financial management positions in companies engaged in a variety of industries. Mr. Law has been an executive director and company secretary of Kai Yuan Holdings Limited, a company listed on the Stock Exchange (stock code: 1215), since May 2011 and February 2014 respectively and is also currently their chief financial officer.

Mr. Law obtained a degree of Bachelor of Arts in Accountancy from the City University of Hong Kong. He is an associate member of the Hong Kong Institute of Certified Public Accountants.

獨立非執行董事

劉安國先生 ，53歲，於二零一七年九月二十日獲委任為獨 立非執行董事。劉先生為審核委員會主席、風險管理委員 會及薪酬委員會成員。

劉先生於財務管理、企業管治及直接投資領域擁有豐富經 驗。彼於一間國際會計公司擔任會計專業人員，開啟其職 業生涯。於二零零四年四月至二零一零年十二月，劉先生 為中國資本投資管理有限公司的執行董事及亦為中國資本 （控股）有限公司（曾於聯交所上市的公司，股份代號：170) 的公司秘書及投資委員會成員。於二零零七年五月至二零 一二年四月，彼為山東魯抗醫藥股份有限公司（其股份於上 海證券交易所上市，股份代號：600789)的董事。於二零 零九年五月至二零一一年一月，劉先生為盛源控股有限公 司（聯交所上市公司，股份代號：0851)獨立非執行董事。 於二零一一年一月至二零一四年八月，彼受盛源資產管理 有限公司僱傭，彼最後職位為執行董事。於二零一一年一 月至二零一三年十二月，彼亦於盛源資本投資有限公司承 擔董事總經理職責。於二零一四年十一月至二零一八年 十一月，劉先生為瀛晟科學有限公司（聯交所上市公司，股 份代號：209)的公司秘書及財務總監。自二零一八年十月 起，劉先生為中國資本（控股）有限公司的董事及中國資本 投資管理有限公司的董事。

劉先生於紐卡斯爾特大學取得會計及財務分析文學學士學 位及在倫敦大學取得財務管理理學碩士學位。彼亦取得由 西南政法大學與香港管理專業協會合頒發的中國涉外經貿 法律實務文憑。

劉先生為香港會計師公會會員及英國特許公認會計師公會 資深會員。

羅永志先生 ，50歲，於二零一七年九月二十日獲委任為獨 立非執行董事。羅先生為風險管理委員會主席、審核委員 會及提名委員會成員。

羅先生於財務管理及專業會計方面擁有豐富經驗。彼為元 藝有限公司（中國一家大型珠寶製造商）財務總監。於一間 國際會計公司擔任會計專業人員開啟其職業生涯後，彼於 各行各業的公司承擔重要財務管理職位。羅先生自二零 一一年五月及二零一四年二月起分別為開源控股有限公司 （於聯交所上市的公司，股份代號：1215)執行董事及公司 秘書，及現時亦為其財務總監。

羅先生於香港城市大學取得會計學文學學士學位。彼為香 港會計師公會會員。

18 KML Technology Group Limited • Annual Report 2019/20

Directors and Senior Management 董事及高級管理層

Dr. Tse Chi Kong (謝智剛) , aged 55, was appointed as an Independent Non-executive Director on 20 September 2017. Dr. Tse is the chairman of the Remuneration Committee, a member of each of the Audit Committee and the Nomination Committee.

From September 1991 to April 2005, Dr. Tse worked as a lecturer, assistant professor, associate professor and professor in the department of electronic and information engineering (“ EIE Department ”) of the Hong Kong Polytechnic University. Dr. Tse was the head of EIE Department from August 2005 to December 2012. From May 2005 to October 2019, he was the chair professor of electronic engineering in the EIE Department. Dr. Tse has been appointed as a member of the research projects assessment panel of Innovation and Technology Fund, a fund administered by the Innovation and Technology Commission of the Government of Hong Kong, for a term from January 2017 to December 2018. He was re-appointed as a member of the Quality Education Fund Steering Committee, which advises the government of Hong Kong on the policies and procedures governing the operation of the Quality Education Fund, in January 2017 for a term of two years. Dr. Tse is currently a member of the council of the Confucius Institute of Hong Kong, an institute under the faculty of humanities of the Hong Kong Polytechnic University, Hong Kong and a member of the board of governers of the Hong Kong Sinfonietta. Dr. Tse is appointed on 21 October 2019 as a chair professor of electrical engineering at the City University of Hong Kong.

Dr. Tse obtained a degree of Bachelor of Engineering and a degree of Doctor of Philosophy from The University of Melbourne, Australia. He has been elected to the grade of fellow of the Institute of Electrical and Electronic Engineers, Inc., New York. He is a Chartered Professional Engineer with Engineers Australia and a Fellow of Engineers Australia.

SENIOR MANAGEMENT

Mr. Tung Tsz On (董子安) , aged 50, is the chief engineer of our Group. Mr. Tung is responsible for research and development, planning and formulation and supervising the implementation of our projects with provision of day-to-day technical and expert advice to our Group. Mr. Tung is one of the authorised signatories of KML Engineering for its qualification as a Registered Minor Works Contractor for Type A and Type C of Class II & III under the Buildings Ordinance since September 2011.

Mr. Tung joined our Group in February 2003 as a system engineer and was promoted to the position of chief engineer in April 2010. Mr. Tung has more than 10 years of experience in design and management of E&M engineering projects covering a variety of systems such as mobile payment, automatic control system, car park system, security system and point of sales system etc. He has expertise in handling maintenance work for electronic systems, as well as leading the development and implementation of automatic fare collection systems.

Mr. Tung obtained an Advanced Diploma in network engineering granted by the Hong Kong Productivity Council in December 2000.

謝智剛博士 ，55歲，於二零一七年九月二十日獲委任為獨 立非執行董事。謝博士為薪酬委員會主席、審核委員會及 提名委員會成員。

於一九九一年九月至二零零五年四月，謝博士擔任香港理 工大學電子及資訊工程學系（「 電子及資訊工程學系 」）的講 師、助理教授、副教授及教授。於二零零五年八月至二零 一二年十二月，謝博士為電子及資訊工程學系系主任。自 二零零五年五月起至二零一九年十月，彼亦一直為電子及 資訊工程學系電子工程首席教授。於二零一七年一月至二 零一八年十二月期間，謝博士獲委任為香港政府創新科技 署管理的一項基金創新科技基金評審委員。於二零一七年 一月，彼再次獲委任為香港優質教育基金督導委員會成 員，為期兩年，該委員會就管治及運作優質教育基金的政 策及程序向香港政府提供意見。謝博士現時亦為香港孔子 學院（香港理工大學人文學院轄下的學院）理事會理事及香 港小交響樂團監察委員會成員。謝博士於二零一九年十月 二十一日獲委任為香港城市大學的電子工程首席教授。

謝博士取得澳洲墨爾本大學工程學學士學位及哲學博士學 位。彼一直獲選為紐約電機電子工程師學會資深會員。彼 為澳洲工程師學會註冊專業工程師及澳洲工程師學會資深 註冊專業工程師。

高級管理層

董子安先生 ，50歲，為本集團總工程師。董先生負責研 發、規劃及制定以及監督項目的執行並向本集團提供日常 的技術及專家意見。自二零一一年九月起，董先生一直為 高明科技工程有關建築物條例第II及III級別A類型及C類型註 冊小型工程承建商的授權簽署人之一。

董先生於二零零三年二月加入本集團為系統工程師並於二 零一零年四月晉升為總工程師。董先生於設計及管理機電 工程項目方面擁有逾10年經驗，涵蓋汽車支付、自動監控 系統、泊車系統、保安系統及零售點系統等各系統。彼於 處理電子系統的保養工作，以及領導發展及執行自動收費 系統方面擁有專業知識。

董先生於二零零零年十二月取得香港生產力促進局頒授的 網絡工程師高等文憑。

19

高萌科技集團有限公司 • 二零一九/ 二零年年報

Directors and Senior Management 董事及高級管理層

Ms. Law Shuk Ming (羅淑明) , aged 49, is our chief accountant, being responsible for day-to-day accounting and financial reporting of our Group. Ms. Law joined our Group in May 1995 and was promoted to chief accountant in November 2017.

Ms. Law obtained a degree of Bachelor of Business Administration from Capstone University, the United States, and completed the Accounting Technician Examination by Hong Kong Institute of Accredited Accounting Technicians.

Ms. Wai Hang Ying Helen (衛杏英) , aged 45, is a director of KML Engineering. Ms. Wai joined our Group in December 1997 and has been responsible for overall administration of our Group. Ms. Wai has been a director of KML Engineering since October 2009.

Ms. Wai obtained a degree of Bachelor of Arts in public and social administration and a Degree of Master of Arts in professional accounting and information systems, both from the City University of Hong Kong. She was also awarded the Graduate Diploma of Financial Services by Deakin University, Australia, and admitted as a fellow Certified Insurance Professional by the Australian and New Zealand Institute of Insurance and Finance.

COMPANY SECRETARY

Ms. Woo Siu Wai (胡劭卉) , aged 40, is our company secretary, responsible for company secretarial matters, human resources and administrative duties. Ms. Woo joined our Group in April 2011 and was subsequently promoted to administration manager in October 2016.

Before joining our Group, Ms. Woo worked at Success Light Investment Limited from February 2004, and last held the position of company secretarial assistant in the finance department before her departure in April 2011.

Ms. Woo obtained a degree of Bachelor of Arts from the faculty of social sciences of the University of Victoria, Canada, and a degree of Master of Science in Professional Accounting and Corporate Governance from City University of Hong Kong. Ms. Woo was admitted as an associate of the Hong Kong Institute of Chartered Secretaries and an associate of the Institute of Chartered Secretaries and Administrators.

Ms. Woo is the spouse of Mr. YC Luk, our Executive Director, the daughter-in-law of Mr. KM Luk, our founder, Executive Director and chairman of our Board, the daughter-in-law of Madam Leung, our controlling Shareholder, and the sister-in-law of Mr. KL Luk, our Executive Director.

COMPLIANCE OFFICER

Mr. Luk Yin Cheung (陸彥彰) , aged 41, has been appointed as the compliance officer of our Company. His biography is set out in the subsection headed “Executive Directors” in this section.

羅淑明女士 ，49歲，為本集團總會計師，負責本集團日 常的會計及財務報告。羅女士於一九九五年五月加入本集 團，並於二零一七年十一月晉升為總會計師。

羅女士取得美國Capstone University工商管理學士學位及 在香港財務會計協會完成財務會計員考試。

衛杏英女士 ， 45 歲，為高明科技工程董事。衛女士於 一九九七年十二月加入本集團並負責本集團的整體行政。 衛女士自二零零九年十月起一直為高明科技工程董事。

衛女士於香港城市大學分別取得公共及社會行政文學學士 學位及專業會計學及資訊系統學文學碩士學位。彼亦獲澳 洲迪肯大學頒發財務服務深造文憑及澳洲新西蘭保險與金 融學會認可為資深認證保險師。

公司秘書

胡劭卉女士 ，40歲，為公司秘書，負責公司秘書事宜、 人力資源及行政職務。胡女士於二零一一年四月加入本集 團，並隨後於二零一六年十月晉升為行政經理。

於加入本集團前，胡女士自二零零四年二月起於Success Light Investment Limited任職及於二零一一年四月辭職前最 後職位為財務部的公司秘書助理。

胡女士於加拿大維多利亞大學社會科學學院取得文學學士 學位及在香港取得香港城市大學專業會計與企業管治理學 碩士學位。胡女士獲香港特許秘書公會認可為會員及特許 公司秘書及行政人員公會認可為會員。

胡女士為執行董事陸彥彰先生的配偶、本集團創辦人、執 行董事兼董事會主席陸鑑明先生的兒媳、控股股東梁女士 的兒媳及執行董事陸季農先生的弟媳。

合規主任

陸彥彰先生 ，41歲，已獲委任為本公司合規主任。其履歷 載於本節「執行董事」分節。

20 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

The Board is pleased to present its report together with the audited consolidated financial statements of the Group for the year ended 31 March 2020.

PRINCIPAL ACTIVITIES

The principal activity of the Company is investment holding and its subsidiaries are principally engaged in the provision of electrical and mechanical engineering solutions and services. Analysis of the principal activities of the Group during the year ended 31 March 2020 is set out in the note 5 to the consolidated financial statements.

RESULTS

The results of the Group for the year ended 31 March 2020 are set out in the consolidated statement of profit or loss and other comprehensive income on page 58 of this annual report.

FINAL DIVIDEND

The Board recommends the payment of a final dividend of HK2.0 cents per Share for the year ended 31 March 2020 (2019: Nil). Such final dividend is subject to the approval by the Shareholders at the annual general meeting (“ AGM ”), The dividend is expected to be paid on or about 1 September 2020 to the Shareholders whose names appear on the register of members of the Company (the “ Register of Members ”) on 21 August 2020.

CLOSURE OF REGISTER OF MEMBERS

The register of members of the Company will be closed from Friday, 7 August 2020 to Wednesday, 12 August 2020, both days inclusive, in order to determine the identity of the Shareholders who are entitled to attend the AGM, during which period no transfers of shares shall be effected. In order to qualify for attending and voting at the AGM to be held on Wednesday, 12 August 2020, all transfers of Shares, accompanied by the relevant share certificates and transfer forms, must be lodged for registration with the Tricor Investor Services Limited at Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong no later than 4:30 p.m. on Thursday, 6 August 2020.

The register of members of the Company will also be closed from Wednesday, 19 August 2020 to Friday, 21 August 2020, both days inclusive, in order to determine the entitlement of the Shareholders who are entitled to receive the final dividend, during which period no transfers of shares shall be effected. In order to qualify for the entitlement of final dividend, all transfer of Shares, accompanied by the relevant share certificates and transfer forms, must be lodged for registration with the Tricor Investor Services Limited at Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong, not later than 4:30 p.m. on Tuesday, 18 August 2020.

董事會欣然提呈本報告連同本集團截至二零二零年三月 三十一日止年度的經審核綜合財務報表。

主要業務

本公司主要業務為投資控股及其附屬公司主要從事提供機 電工程解決方案及服務。本集團於截至二零二零年三月 三十一日止年度的主要業務分析載列於綜合財務報表附註 5。

業績

本集團截至二零二零年三月三十一日止年度的業績載列於 本年報第58頁的綜合損益及其他全面收益表。

末期股息

董事會建議派付截至二零二零年三月三十一日止年度的末 期股息每股2.0港仙（二零一九年：無）。有關末期股息須 待股東於股東週年大會（「 股東週年大會 」）上批准後方可作 實，預期股息將於二零二零年九月一日或前後派付予於二 零二零年八月二十一日名列本公司股東名冊（「 股東名冊 」） 的股東。

暫停辦理股份過戶登記手續

為釐定有權出席股東週年大會的股東身份，本公司將於二 零二零年八月七日（星期五）至二零二零年八月十二日（星 期三）（包括首尾兩日）暫停辦理股份過戶登記手續，期間 將不會辦理股份過戶登記手續。為符合資格出席將於二零 二零年八月十二日（星期三)舉行的股東週年大會並於會上 投票，所有股份過戶文件連同有關股票及過戶表格必須不 遲於二零二零年八月六日（星期四）下午四時三十分，送達 卓佳證券登記有限公司辦理登記，地址為香港皇后大道東 183號合和中心54樓。

為釐定有權收取末期股息的股東權利，本公司亦將於二零 二零年八月十九日（星期三)至二零二零年八月二十一日（星 期五（包括首尾兩日）暫停辦理股份過戶登記手續，期間將) 不會辦理股份過戶登記手續。為符合資格收取末期股息， 所有股份過戶文件連同有關股票及過戶表格必須不遲於二 零二零年八月十八日（星期二)下午四時三十分，送達卓佳 證券登記有限公司辦理登記，地址為香港皇后大道東183 號合和中心54樓。

21

高萌科技集團有限公司 • 二零一九/ 二零年年報

Report of Directors 董事會報告

BUSINESS REVIEW

A review of the business of the Group as at 31 March 2020 and a discussion on the Group’s future business development are set out in the paragraphs headed “Business Review” and “Outlook” under the section headed “Management Discussion and Analysis” of this annual report respectively. Descriptions of possible risks and uncertainties that the Group may be facing are provided in paragraphs headed “Principal Risks and Uncertainties” under the section headed “Management Discussion and Analysis” of this annual report. An analysis of the Group’s performance during the year using financial key performance indicators is provided in the Financial Highlights on page 6 of this annual report.

In addition, discussions on the Group’s environmental policies and performance, important relationships with its stakeholders and compliance with relevant laws and regulations are contained and available in this Report of Directors. The above discussions constitute part of this Report of Directors.

ENVIRONMENTAL POLICIES AND PERFORMANCE

The Group recognises that all employees have the social obligation to preserve and enhance the quality of the environment. We strive to protect the environment in the course of our business activities by preventing pollution, reducing adverse impact on climate change and enhancing sustainable development. These policies are supported by our employees and are implemented effectively.

At the same time, the Group recognises the importance of compliance with regulatory requirements and applicable laws and regulations. During the year ended 31 March 2020, the Group has complied in material respects with the relevant environmental laws and regulations.

COMPLIANCE WITH RELEVANT LAWS AND REGULATIONS

The Group recognises the importance of compliance with regulatory requirements and the risks of non-compliance with the applicable laws and regulations. The major laws and regulations relating to the Group’s business and operations include the Electricity Ordinance, Security and Guarding Services Ordinance, Building (Minor Works) Regulation, Construction Industry Council Ordinance and the Subcontractor Registration Scheme. During the year ended 31 March 2020 and up to the Date of this Report, the Group has complied in material respects with the relevant laws and regulations that have a significant impact on the business and operation of the Group. There was no material breach or noncompliance with the applicable laws and regulations by the Group during the year ended 31 March 2020 and up to the Date of this Report. And the Group has complied with all relevant requirements including financial, technical, management and personal criteria applicable to each respective laws and regulations.

業務回顧

本集團於二零二零年三月三十一日的業務回顧及有關本集 團未來業務發展的討論分別載列於本年報「管理層討論及分 析」一節中「業務回顧」及「前景」兩段。有關本集團可能面臨 的潛在風險及不確定性的描述載列於本年報「管理層討論及 分析」一節中「主要風險及不確定性」一段。使用主要財務表 現指標對本集團於本年度內的表現作出的分析載列於本年 報第6頁財務摘要。

此外，就本集團環境政策及表現、與其主要持份者的重要 關係及有關法律法規之遵守的討論載列於本董事會報告及 可從中查閱。上述討論構成本董事會報告的一部分。

環境政策及表現

本集團認識到，全體僱員都有社會義務保護及提高環境質 量。在進行業務活動過程中，我們通過避免污染、減少對 氣候變化的負面影響及增強可持續發展能力來保護環境。 該等政策得到我們僱員的大力支持及獲得有效落實。

同時，本集團意識到遵守監管規定及適用法律法規的重要 性。於截至二零二零年三月三十一日止年度，本集團於重 大方面已遵守相關環境法律法規。

遵守相關法律法規

本集團意識到遵守監管規定之重要性及不遵守適用法律法 規之風險。有關本集團業務及營運的主要法律法規包括電 力條例、保安及護衞服務條例、建築物（小型工程）規例、 建造業議會條例及分包商註冊制度。於截至二零二零年 三月三十一日止年度及直至本報告日期，本集團於重大方 面已遵守對本集團業務及營運產生重大影響之相關法律法 規。於截至二零二零年三月三十一日止年度及直至本報告 日期，本集團概無實質性違反或不遵守適用法律法規及本 集團已遵守所有相關規定，包括適用於各法律法規的財 務、技術、管理及個人準則。

22 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

RELATIONSHIP WITH KEY STAKEHOLDERS

Employees

As at 31 March 2020, the Group employed 199 employees. We maintained a good working relationship with our employees and we did not experience any labour disputes during the year ended 31 March 2020. Recruitment in the E&M engineering service industry is highly competitive, especially with respect to the recruitment of qualified engineering staff. We believe we are hiring high-quality employees in the market by offering competitive wages and benefits and comprehensive training opportunities. We have facilitated the recruitment through a variety of channels, such as newspapers, internet websites, recruitment agencies, career talks and internal referrals. We believe our continuous efforts will help us attract suitable personnel.

Customers

Our customers mainly comprise transportation companies and other engineering companies in Hong Kong and Taiwan and also various departments of the Hong Kong Government. We maintain business relationship with our top one customer since year 1978. We usually enter into agreements with our customers on project basis and the majority of such contracts have term over one year. Most of our project contracts are fixed price contracts. The lump sum price is usually determined based on factors including project requirements and estimated cost of materials, labour and time required for completion of the projects.

Suppliers

The Group sources equipment, parts and components from our suppliers. The principal materials and equipment used by our E&M engineering business include steel and copper parts, switchboards, and various mechanical equipment. Most of these materials and equipment are sourced from local suppliers or imported mainly from Germany, Taiwan and the PRC.

FINANCIAL SUMMARY

A summary of the Group’s results, assets and liabilities for the last five financial years is set out on page 128 of this annual report. This summary does not form part of the audited consolidated financial statements.

USE OF NET PROCEEDS FROM LISTING

The net proceeds from the Listing (after deducting underwriting fees and related expenses) amounted to approximately HK$36.0 million. As at 31 March 2020, the Company had used approximately HK$28.2 million of the net proceeds for the purposes as disclosed in the Prospectus and the announcement of the Company dated 10 July 2019, representing 78.3% of the net proceeds for the Listing.

與主要持份者的關係

僱員

於二零二零年三月三十一日，本集團僱用199名僱員。本 集團與我們的僱員保持良好的工作關係，於截至二零二零 年三月三十一日止年度，我們並無面臨任何勞動糾紛。機 電工程服務行業中招募員工競爭激烈，尤其是招募合資格 工程員工。我們相信，我們通過提供具競爭力的薪資及福 利以及全面培訓機會能於市場上聘用高質素僱員。通過報 紙、互聯網網站、招聘代理、宣講會及內部推薦等一系列 渠道，我們加快招聘進度。我們相信我們的不斷努力將有 助於吸引合適人員。

客戶

我們的客戶主要包括香港及台灣公共交通營運公司及其他 工程公司，以及香港政府各部門。自一九七八年起，我們 與我們的最大客戶一直保持業務關係。我們通常按照項目 與我們的客戶簽訂協議及大部分相關合約期限一年以上。 我們大部分項目合約為固定價格合約。總價通常基於項目 規定、估計材料成本、完成項目所需勞工及時間等因素而 釐定。

供應商

本集團從我們的供應商獲得設備、零件及部件。我們的機 電工程業務使用的主要材料及設備包括鋼材、銅製零件、 交換機及各類機械設備。大部分該等材料及設備源自本地 供應商或主要自德國、台灣及中國進口。

財務概要

本集團過往五個財務年度的業績、資產及負債概要載列於 本年報第128頁。該概要並不構成經審核綜合財務報表的 一部分。

上市所得款項淨額用途

上市所得款項淨額（經扣除包銷費及相關開支後）約為36.0 百萬港元。於二零二零年三月三十一日，本公司按招股章 程及本公司日期為二零一九年七月十日之公告披露的用途 動用所得款項淨額約28.2百萬港元，佔上市所得款項淨額 的78.3%。

23

高萌科技集團有限公司 • 二零一九/ 二零年年報

Report of Directors 董事會報告

MAJOR CUSTOMERS, SUPPLIERS AND SUBCONTRACTORS

Major Customers

For the year ended 31 March 2020, the Group’s sales to its five largest customers accounted for 85.1% (2019: 85.9%) of the Group’s total revenue and our single largest customer accounted for 64.1% (2019: 66.0%) of the Group’s total revenue.

Major Suppliers

For the year ended 31 March 2020, the Group’s five largest suppliers accounted for 46.0% (2019: 36.3%) of the Group’s total purchases and our single largest supplier accounted for 14.1% (2019: 14.8%) of the Group’s total purchases.

Major Subcontractors

For the year ended 31 March 2020, the Group’s five largest subcontractors accounted for 58.1% (2019: 69.6%) of the Group’s total subcontracting cost and our single largest subcontractor accounted for 20.7% (2019: 22.9%) of the Group’s total subcontracting cost.

During the year ended 31 March 2020, none of the Directors or any of their close associates or any Shareholders (which, to the best knowledge of the Directors, own more than 5% of the number of issued shares of the Company) had any interest in the Group’s five largest customers, suppliers and subcontractors.

PROPERTY, PLANT AND EQUIPMENT

Details of movements in the property, plant and equipment of the Group during the year ended 31 March 2020 are set out in note 13 to the consolidated financial statements.

SHARE CAPITAL

Details of movements in the share capital of the Company during the year ended 31 March 2020 are set out in note 23 to the consolidated financial statements.

RESERVES

Details of movements in the reserves of the Company and the Group during the year ended 31 March 2020 are set out on pages 127 and 60 of this annual report respectively.

DISTRIBUTABLE RESERVES

As at 31 March 2020, the Company’s reserves available for distribution to the Shareholders, amounted to approximately HK$25.7 million (2019: approximately HK$24.1 million) comprising accumulated loss of approximately HK$21.9 million and share premium amounting to approximately HK$47.6 million.

BANK LOANS AND OTHER BORROWINGS

The Group did not have any bank loans and other borrowings as at 31 March 2020.

主要客戶、供應商及分包商

主要客戶

截至二零二零年三月三十一日止年度，本集團與五大客 戶的銷售額佔本集團總收益85.1%（二零一九年：85.9%） 及單一最大客戶佔本集團總收益64.1%（二零一九年： 66.0%）。

主要供應商

截至二零二零年三月三十一日止年度，本集團五大供應 商佔本集團總採購額46.0%（二零一九年：36.3%）及單 一最大供應商佔本集團總採購額14.1%（二零一九年： 14.8%）。

主要分包商

截至二零二零年三月三十一日止年度，本集團五大分包商 佔本集團總分包成本的58.1%（二零一九年：69.6%）及單 一最大分包商佔本集團總分包成本的20.7%（二零一九年： 22.9%）。

於截至二零二零年三月三十一日止年度，董事、彼等任何 緊密聯繫人及任何股東（就董事所深知，彼等擁有本公司已 發行股份數目的5%以上）概無於本集團五大客戶、供應商 及分包商擁有任何權益。

物業、廠房及設備

本集團於截至二零二零年三月三十一日止年度的物業、廠 房及設備變動詳情載列於綜合財務報表附註13。

股本

本公司於截至二零二零年三月三十一日止年度的股本變動 詳情載列於綜合財務報表附註23。

儲備

本公司及本集團於截至二零二零年三月三十一日止年度的 儲備變動詳情分別載列於本年報第127及60頁。

可供分派儲備

於二零二零年三月三十一日，本公司可分派予股東的儲備 約為25.7百萬港元（二零一九年：約24.1百萬港元），包括 累計虧損約21.9百萬港元及股份溢價約47.6百萬港元。

銀行貸款及其他借貸

本集團於二零二零年三月三十一日沒有任何銀行貸款及其 他借貸。

24 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

DIRECTORS

The Directors during the year ended 31 March 2020 and up to the Date of this Report are:

Executive Directors

Mr. Luk Kam Ming (Chairman) Mr. Chan Chak Lun, Philip (Chief Executive Officer) Mr. Luk Kwai Lung Mr. Luk Yin Cheung

Independent Non-executive Directors

Mr. Lau On Kwok Mr. Law Wing Chi Stephen Dr. Tse Chi Kong

In accordance with article 84(1) of the Articles of Association of the Company (“ Articles of Association ”), at each AGM one-third of the Directors for the time being (or, if their number is not a multiple of three (3), the number nearest to but not less than one-third) shall retire from office by rotation provided that every Director shall be subject to retirement at an annual general meeting at least once every three years.

Details of the Directors to be re-elected at the AGM are set out in the circular to be despatched to the Shareholders.

DIRECTORS AND SENIOR MANAGEMENT

Biographical details of the Directors and senior management of the Company are set out on pages 15 to 20 of this report.

CONFIRMATION OF INDEPENDENCE OF INDEPENDENT NONEXECUTIVE DIRECTORS

The Company has received an annual confirmation of independence pursuant to rule 5.09 of the GEM Listing Rules from each of the independent non-executive Directors and the Company considers such Directors to be independent during the year ended 31 March 2020 (the “ Reporting Period ”) and remain so as at the Date of this Report.

DIRECTORS’ SERVICE CONTRACTS AND LETTERS OF APPOINTMENT

Each of the executive Directors has signed a service contract with the Company for a term of three years commencing from the Listing Date, which may be renewable subject to both parties’ agreement.

Each of the independent non-executive Directors has signed a letter of appointment with the Company for a term of three years commencing from the Listing Date, which may be renewable subject to both parties’ agreement.

None of the Directors has a service contract which is not determinable by the Group within one year without payment of compensation (other than statutory compensation).

董事

截至二零二零年三月三十一日止年度及直至本報告日期， 董事為：

執行董事

陸鑑明先生（主席） 陳澤麟先生（行政總裁） 陸季農先生 陸彥彰先生

獨立非執行董事

劉安國先生 羅永志先生 謝智剛博士

根據本公司組織章程細則（「 組織章程細則 」）第84(1)條，於 各股東週年大會上，當時的三分之一董事（或倘董事人數並 非三(3)的整數倍，則為最接近且不低於三分之一的人數）應 輪席退任，惟各董事須至少每三年在股東週年大會上輪席 退任一次。

於股東週年大會上將重選的董事詳情載列於將寄發予股東 的通函內。

董事及高級管理層

本公司董事及高級管理層的履歷詳情載列於本報告第15至 20頁。

獨立非執行董事獨立性確認

根據GEM上市規則第5.09條，本公司已接獲各獨立非執行 董事的年度獨立性確認及本公司認為該等董事於截至二零 二零年三月三十一日止年度（「 報告期間 」）均屬獨立及於本 報告日期保持獨立性。

董事的服務合約及委任函

各執行董事已與本公司簽訂服務合約，自上市日期起計為 期三年，可由雙方協定重續。

各獨立非執行董事已與本公司簽訂委任函，自上市日期起 計為期三年，可由雙方協定重續。

董事概無訂立本集團不可於一年內免付賠償（法定賠償除 外）而終止之服務合約。

25

高萌科技集團有限公司 • 二零一九/ 二零年年報

Report of Directors 董事會報告

DIRECTORS’ INTERESTS IN TRANSACTIONS, ARRANGEMENTS OR CONTRACTS OF SIGNIFICANCE

No Director or his connected entity had a material interest, either directly or indirectly, in any transaction, arrangement or contract of significance to the business of the Group to which the Company, or any of its subsidiaries or fellow subsidiaries was a party during the Reporting Period.

CONTRACTS OF SIGNIFICANCE

Saved as disclosed in this annual report, during the Reporting Period, no contract of significance in respect of provision of services or otherwise was entered into between the Company or its subsidiaries and the controlling shareholders or his/her/its subsidiaries.

MANAGEMENT CONTRACTS

No contracts concerning the management and administration of the whole or any substantial part of the business of the Company were entered into or existed during the Reporting Period and up to the Date of this Report.

EMOLUMENT POLICY

A remuneration committee was set up for reviewing the Group’s emolument policy and structure for all remuneration of the directors and senior management of the Group, having regard to the Group’s operating results, individual performance of the directors and senior management and comparable market practices.

Details of the emoluments of the Directors, and five highest paid individuals during the year ended 31 March 2020 are set out in note 8 to the consolidated financial statements.

RETIREMENT BENEFITS SCHEME

Details of the retirement benefits scheme of the Group are set out in note 27 to the consolidated financial statements.

DIRECTORS’ AND CHIEF EXECUTIVE’S INTERESTS AND SHORT POSITION IN SHARES, UNDERLYING SHARES AND DEBENTURES

As at 31 March 2020, the interests and short positions of the Directors and the chief executive of the Company in the Shares, underlying Shares and debentures of the Company or its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance (“ SFO ”)) which have been notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions which they were taken or deemed to have under such provisions of the SFO), which were recorded in the register required to be kept pursuant to Section 352 of the SFO; or as otherwise notified to the Company and the Stock Exchange pursuant to the Rules 5.46 to 5.67 of the GEM Listing Rules were as follows:

董事於交易、安排或重大合約中的權益

於報告期間，概無董事或其關連實體直接或間接於任何由 本公司或其任何附屬公司或同系附屬公司訂立並對本集團 業務而言屬重大的交易、安排或合約中擁有重大權益。

重大合約

除本年報所披露者外，於報告期間，本公司或其附屬公司 與控股股東或其附屬公司概無就提供服務或其他訂立重大 服務合約。

管理合約

於報告期間及直至本報告日期，概無訂立或存在涉及本公 司全部或任何大部分業務管理及行政的合約。

薪酬政策

本公司設立薪酬委員會以檢閱本集團的薪酬政策及本集團 所有董事及高級管理層的薪酬（須考慮本集團的經營業績、 董事及高級管理層的個人表現及可比較市場慣例）結構。

董事及五名最高薪人士於截至二零二零年三月三十一日止 年度的薪酬詳情載列於綜合財務報表附註8。

退休福利計劃

本集團退休福利計劃詳情載列於綜合財務報表附註27。

董事及主要行政人員於股份、相關股份及債權證的權益 及淡倉

於二零二零年三月三十一日，董事及本公司主要行政人員 於本公司或其相聯法團（定義見證券及期貨條例（「 證券及期 貨條例 」）第XV部）股份、相關股份及債權證中擁有根據《證 券及期貨條例》第XV部第7和8分部須知會本公司及聯交所 的權益及淡倉（包括根據《證券及期貨條例》有關條文視為 或當作擁有的權益及淡倉），或須登記於根據《證券及期貨 條例》第352條存置的登記冊，或根據GEM上市規則第5.46 至5.67條須另行知會本公司及聯交所的權益及淡倉如下：

26 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

				Approximate
				Percentage of
		Number	Long/short	Shareholding in
Name	Capacity/Nature of Interest	of Shares	position(5)	the Company (%)
				於本公司的持股
姓名	身份╱權益性質	股份數目	好倉╱淡倉（5）	概約百分比(%)
Mr. KM Luk(Note 1)	Beneficial owner; interest of spouse	157,000,000	L	39.25
陸鑑明先生（附註1）	實益擁有人；配偶權益
Mr. KL Luk(Note 2)	Interest in controlled corporation	138,000,000	L	34.50
陸季農先生（附註2）	受控法團權益
Mr. YC Luk(Note 2) (Note 3)	Interest in controlled corporation;	138,600,000	L	34.65
	interest of spouse
陸彥彰先生（附註2） （附註3）	受控法團權益；配偶權益
Mr. Chan Chak Lun Philip	Beneficial owner	4,000,000	L	1.00
(“Mr. CL Chan”)(Note 4)
陳澤麟先生	實益擁有人
（「陳澤麟先生」） （附註4）

Notes:

• (1) Mr. KM Luk directly holds 100,000,000 Shares. Since Mr. KM Luk is the spouse of Madam Leung, Mr. KM Luk is deemed to be interested in all the Shares in which Madam Leung is interested or deemed to be interested under the SFO, which is 57,000,000 Shares.

• (2) Each of Mr. KL Luk and Mr. YC Luk owns one common share in KML Holdings Limited (“ KML Holdings ”), representing 50% of the issued share capital of KML Holdings carrying voting rights. Mr. KL Luk and Mr. YC Luk are deemed to be interested in all Shares in which KML Holdings is interested or deemed to be interested under the SFO, which is 138,000,000 Shares.

• (3) Since Mr. YC Luk is the spouse of Ms. Woo, Mr. YC Luk is deemed to be interest in all the Shares in which Ms. Woo is interested or deemed to be interested under the SFO, which is 600,000 Shares.

• (4) Mr. CL Chan directly holds 2,000,000 Shares and was interested as a grantee of options to subscribe for up to 2,000,000 Shares under the Share Option Scheme (announced on 2 January 2020).

• (5) The Letter “L” denotes the entity/person’s long position in the Shares.

Save as disclosed above, as at 31 March 2020, none of the Directors or the chief executive of the Company had or was deemed to have any interest or short position in the Shares, underlying Shares or debentures of the Company or its associated corporations (within the meaning of Part XV of the SFO) that was required to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions which they were taken or deemed to have taken under such provisions of the SFO), or required to be recorded in the register required to be kept under Section 352 of the SFO, or as otherwise notified to the Company and the Stock Exchange pursuant to Rules 5.46 to 5.67 of the GEM Listing Rules.

附註：

• (1) 陸鑑明先生直接持有100,000,000股股份。由於陸鑑明先生為梁 女士的配偶，故陸鑑明先生被視為於梁女士擁有權益或根據《證 券及期貨條例》被視作擁有權益的所有股份（即57,000,000股股 份）中擁有權益。

• (2) 陸季農先生及陸彥彰先生各自擁有一股KML Holdings Limited （「 KML Holdings 」）普通股（佔KML Holdings附帶投票權之已發 行股本的50%)。陸季農先生及陸彥彰先生於KML Holdings擁 有權益或根據證券及期貨條例被視作擁有權益的所有股份（即 138,000,000股股份）中擁有權益。

• (3) 由於陸彥彰先生為胡女士的配偶，根據《證券及期貨條例》，陸 彥彰先生被視為於胡女士擁有權益或被視為擁有權益的所有股 份（即600,000股股份）中擁有權益。

• (4) 陳澤麟先生直接持有2,000,000股股份並以購股權承授人身份擁 有股份權益，可根據購股權計劃（於二零二零年一月二日公佈） 認購最多2,000,000股股份。

• (5) 字母「L」表示該實體╱個人於股份之好倉。

除上文所披露者外，於二零二零年三月三十一日，概無董 事或本公司主要行政人員於本公司或其相關法團（定義見 《證券及期貨條例》第XV部）的股份、相關股份或債權證中 擁有或被視作擁有任何根據《證券及期貨條例》第XV部第7 及第8分部須知會本公司及聯交所的權益或淡倉（包括根據 《證券及期貨條例》有關條文彼等被當作或視作擁有的權益 及淡倉）、或須登記於根據《證券及期貨條例》第352條存置 的登記冊內的權益或淡倉、或根據GEM上市規則第5.46至 5.67條須知會本公司及聯交所的權益或淡倉。

高萌科技集團有限公司 • 二零一九/ 二零年年報 27

Report of Directors 董事會報告

SUBSTANTIAL SHAREHOLDERS’ INTERESTS AND SHORT POSITIONS IN SHARES AND UNDERLYING SHARES

主要股東於股份及相關股份的權益及淡倉

As at 31 March 2020, to the best knowledge of the Directors, the following persons (not being a Director or chief executive of the Company) had interests or short positions in the Shares or underlying Shares which fall to be disclosed to the Company and the Stock Exchange under the provisions of Divisions 2 and 3 of Part XV of the SFO as recorded in the register required to be kept by the Company pursuant to section 336 of the SFO:

於二零二零年三月三十一日，就董事所深知，以下人士（並 非董事或本公司主要行政人員）於本公司股份或相關股份擁 有本公司根據《證券及期貨條例》第336條須存置的登記冊 所記載或根據《證券及期貨條例》第XV部第2及3分部條文須 向本公司及聯交所披露的權益或淡倉：

				Approximate
				Percentage of
		Number	Long/short	Shareholding in
Name	Capacity/Nature of Interest	of Shares	position(5)	the Company (%)
				於本公司的持股
姓名	身份╱權益性質	股份數目	好倉╱淡倉（5）	概約百分比(%)
KML Holdings(1)	Beneficial owner	138,000,000	L	34.50
KML Holdings（1）	實益擁有人
Madam Leung(2)	Beneficial owner; interest of spouse	157,000,000	L	39.25
梁女士（2）	實益擁有人；配偶權益
Ms. Chan Patricia(3)	Interest of spouse	138,000,000	L	34.50
陳珮筠女士（3）	配偶權益
Ms. Woo(4)	Beneficial owner; interest of spouse	138,600,000	L	34.65
胡女士（4）	配偶權益

Notes:

• (1) Each of Mr. KL Luk and Mr. YC Luk owns one common share in KML Holdings, representing 50% of the issued share capital of KML Holdings carrying voting rights. Mr. KL Luk and Mr. YC Luk also own approximately 50% and approximately 50%, respectively, of the issued preferred shares in KML Holdings which do not carry voting rights but only rights to dividends.

• (2) Madam Leung is the spouse of Mr. KM Luk. By virtue of the SFO, Madam Leung is deemed to be interested in all the Shares in which Mr. KM Luk is interested or deemed to be interested under the SFO, and vice versa.

• (3) Ms. Chan is the spouse of Mr. KL Luk. By virtue of the SFO, Ms. Chan is deemed to be interested in all the Shares in which Mr. KL Luk is interested or deemed to be interested under the SFO.

• (4) Ms. Woo is the spouse of Mr. YC Luk. By virtue of the SFO, Ms. Woo is deemed to be interested in all the Shares in which Mr. YC Luk is interested or deemed to be interested under the SFO, which is 138,000,000 Shares. Ms. Woo directly holds 300,000 Shares and was interested as a grantee of options to subscribe for up to 300,000 Shares under the Share Option Scheme (announced on 2 January 2020).

• (5) The Letter “L” denotes the entity/person’s long position in the Shares.

Save as disclosed above, as at 31 March 2020, the Directors were not aware of any persons (who were not Directors or chief executive of the Company) who had an interest or short position in the Shares or underlying Shares of the Company which would fall to be disclosed to the Company and the Stock Exchange under Divisions 2 and 3 of Part XV of the SFO, or which would be required, pursuant to Section 336 of the SFO, to be entered in the register referred to therein.

附註：

• (1) 陸季農先生及陸彥彰先生各自擁有KML Holdings一股普通股， 佔KML Holdings附帶投票權的已發行股本50%。陸季農先生及 陸彥彰先生亦分別擁有KML Holdings已發行優先股（並無附帶投 票權但僅有收取股息的權利）約50%及約50%。

• (2) 梁女士為陸鑑明先生的配偶。根據《證券及期貨條例》，梁女士 被視為於陸鑑明先生擁有權益或根據《證券及期貨條例》被視作 擁有權益的所有股份中擁有權益，反之亦然。

• (3) 陳女士為陸季農先生的配偶。根據《證券及期貨條例》，陳女士 被視為於陸季農先生擁有權益或根據《證券及期貨條例》被視作 擁有權益的所有股份中擁有權益。

• (4) 胡女士為陸彥彰先生的配偶。根據《證券及期貨條例》，胡女士 被視為於陸彥彰先生擁有權益或根據《證券及期貨條例》被視作 擁有權益的所有股份（即138,000,000股股份）中擁有權益。胡女 士直接持有300,000股股份並以購股權承授人身份擁有股份權 益，可根據購股權計劃（於二零二零年一月二日公佈）認購最多 300,000股股份。

• (5) 字母「L」表示該實體╱個人於股份之好倉。

除上文所披露者外，於二零二零年三月三十一日，董事並 不知悉任何人士（並非董事或本公司主要行政人員）於本公 司股份或相關股份中擁有根據《證券及期貨條例》第XV部第 2及3分部須向本公司及聯交所披露，或根據《證券及期貨 條例》第336條須記入該條所述登記冊內的權益或淡倉。

28 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

DIRECTORS’ RIGHTS TO ACQUIRE SHARES OR DEBENTURES

Save as otherwise disclosed in this annual report, at no time during the Reporting Period was the Company or any of its subsidiaries a party to any arrangement that would enable the Directors to acquire benefits by means of acquisition of shares in, or debentures of, the Company or any other body corporate, and none of the Directors or any of their spouses or children under the age of 18 were granted any right to subscribe for the equity or debt securities of the Company or any other body corporate or had exercised any such right.

SHARE OPTION SCHEME

In order to recognise and acknowledge the contributions that the directors and employees of the Group have made or may make to the Group, the Company approved and adopted the share option scheme pursuant to the written resolutions of the Shareholders passed on 20 September 2017 (the “ Share Option Scheme ”).

• (i) The Board may, at its absolute discretion and on such terms as it may think fit, grant an option to subscribe any director or employee of the Group, from time to time on the basis of his/her contribution or potential contribution to the development and growth of the Group.

• (ii) The maximum number of Shares in respect of which options may be granted under the Share Option Scheme must not in aggregate exceed 40,000,000 Shares, representing 10% of the total number of Shares in issue as at the Date of this Report.

• (iii) The total number of Shares issued and to be issued upon exercise of options granted to any participant (including both exercised an outstanding options) under the Share Option Scheme, in any 12-month period up to the date of grant shall not exceed 1% of the Shares in issue. Any further grant of options in excess of such limit must be separately approved by Shareholders in general meeting with such grantee and his/her close associates abstaining from voting.

• (iv) An option may be exercised in accordance with the terms of the Share Option Scheme at any time during a period as the Board may determine which shall not exceed 10 years from the date of grant subject to the provisions of early termination thereof.

• (v) An offer for the grant of options must be accepted within three business days from the date of offer. The amount payable by the eligible persons of an option to the Company on acceptance of the offer for the grant of an option is HK$10.

• (vi) The subscription price of a Share in respect of any particular option granted under the Share Option Scheme shall be a price solely determined by the Board and notified to an eligible person and shall not be less than the highest of: (i) the closing price of the Shares as stated in the Stock Exchange’s daily quotations sheet on the date of grant of the option, which must be a business day; (ii) the average closing prices of the Shares as stated in the Stock Exchange’s daily quotations sheets for the five business days immediately preceding the date of grant of the option; and (iii) the nominal value of a Share on the date of grant of the option.

董事收購股份或債權證的權利

除本年報以其他方式披露者外，於報告期間內任何時間， 本公司或其任何附屬公司概無訂立任何安排，使董事可藉 收購本公司或任何其他法團的股份或債權證而獲得利益， 且董事或其任何配偶或未滿18歲子女概無獲授予任何認購 本公司或任何其他法團的權益或債務證券的權利或已經行 使任何該權利。

購股權計劃

為嘉許及表揚已經或可能對本集團作出貢獻的本集團董事 及僱員，本公司已根據股東於二零一七年九月二十日通過 的書面決議案批准及採納購股權計劃（「 購股權計劃 」）。

• (i) 董事會可全權酌情及按照其可能認為合適的條款， 基於其對本集團的發展及成長所作出之貢獻或潛在 貢獻不時向本集團的任何董事或僱員授出購股權。

• (ii) 根據購股權計劃可能授出之購股權可認購之股份最 大數目合計不得超過40,000,000股股份，佔於本報 告日期已發行股份總數的10%。

• (iii) 直至授出日期止任何12個月期間，因根據購股權計 劃授予任何參與者的購股權（包括已行使及尚未行使 的購股權）獲行使而已發行及將發行的股份總數不得 超過已發行股份的1%。額外授出任何超過該上限的 購股權須經股東於股東大會上另行批准，且該承授 人及其緊密聯繫人須放棄投票。

• (iv) 承授人可於董事會可能釐定的期間，隨時根據購股 權計劃的條款行使購股權，惟有關期間不得超過由 授出日期起計10年，並受有關提前終止條文所規 限。

• (v) 授出購股權的要約須於要約日期起三個營業日內接 納。購股權的合資格人士須於接納要約時就獲授的 一份購股權向本公司支付10港元。

• (vi) 根據購股權計劃授出的任何一份特別購股權的股份 認購價將為由董事會全權釐定並通知合資格人士的 價格，且不得低於下列各項中的最高者：(i) 聯交所 每日報價表所報股份於授出購股權當日（須為營業 日）的收市價；(ii)聯交所每日報價表所報股份於緊接 授出購股權當日前五個營業日的平均收市價；及(iii) 股份於授出購股權當日的面值。

高萌科技集團有限公司 • 二零一九/ 二零年年報 29

Report of Directors 董事會報告

• (vii) The Share Option Scheme will remain in force for a period of 10 years commencing on the Listing Date and shall expire at the close of business on the business day immediately preceding the 10th anniversary thereof unless terminated earlier by the Shareholders in a general meeting.

• (vii) 購股權計劃將於上市日期起計10年內有效，除非在 股東大會上遭股東提早終止，否則於緊接購股權計 劃滿十週年前一個營業日的營業時間結束時屆滿。

On 3 September 2018, 9,200,000 share options have been granted by the Company under the Share Option Scheme. No grantee has exercised the options since they were granted for the period from 3 September 2018 to 2 January 2020. Taking into account the exercise price of these options was comparatively high as compared with the market prices of the Shares, which deterred the grantees from exercising these options to subscribe for the Shares, on 2 January 2020, as approved by the Board and consented from each of the relevant grantees, an aggregate of the aforementioned 9,200,000 options were cancelled with effect from 2 January 2020 in accordance with the terms of the Share Option Scheme.

於二零一八年九月三日，本公司已根據購股權計劃授出 9,200,000份購股權。自二零一八年九月三日起至二零二零 年一月二日期間，概無承授人自授出購股權以來行使該等 購股權。考慮到行使該等購股權的行使價與股份市價比較 相對較高，抑制承授人行使該等購股權認購股份，於二零 二零年一月二日，經董事會批准及各相關承授人的同意， 上述合共9,200,000份購股權已根據購股權計劃之條款註 銷，自二零二零年一月二日起生效。

On the same day, the Company granted 9,800,000 share options (“ Options ”) to certain eligible participants (the “ Grantee(s) ”), subject to acceptance by the Grantees, to subscribe for Shares with nominal value of HK$0.01 each of the Company under the Share Option Scheme. Among the Options granted, 2,000,000 Options were granted to a Director of the Company, 700,000 Options were granted to a director of a subsidiary of the Company and 300,000 Options were granted to an associate to a Director of the Company.

於同日，本公司根據購股權計劃向若干合資格參與者（「 承 授人 」）授出9,800,000份購股權（「 購股權 」），以認購本公司 股本中每股面值0.01港元之股份 ，惟尚待承授人接納，方 可作實。在授出的購股權當中，2,000,000份購股權授予本 公司一名董事、700,000份購股權授予本公司附屬公司的 一名董事及300,000份購股權授予本公司一名董事的聯繫 人。

For the year ended 31 March 2020, 9,800,000 Options were granted on 2 January 2020. The estimated fair values of the Options granted was approximately HK$1,057,000, which was calculated by using the binomial option pricing model based on following inputs. The values of the Options are subject to certain fundamental limitations, including the subjective nature of and uncertainty relating to a number of assumptions of the expected future performance input to the model, and certain inherent limitations of the model itself. The expected volatility was determined with reference to the historical daily volatilities of the Share price of the Company. The risk-free rate was determined with reference to the prevailing rates on debt securities as reference from Thomson Reuters.

截至二零二零年三月三十一日止年度，9,800,000份購股權 已於二零二零年一月二日授出。已授出購股權的估計公允 值約為1,057,000港元，乃根據以下數據採用二項式期權定 價模式計算。購股權價值之準確性乃受制於若干因素，當 中包括為預測未來表現而作的多項假設所涉及之主觀性質 及不明朗因素，以及計算模式的內在限制。預期波幅乃參 考本公司股價以往之每日波幅釐定。無風險利率乃參考湯 森路透社所示債務證券之現行利率釐定。

Date of grant	2 January 2020
授出日期	二零二零年一月二日
Share price at grant date	HK$0.250
於授出日期的股份價格	0.250港元
Exercise price	HK$0.259
行使價	0.259港元
Expected volatility	54.96%
預期波幅	54.96%
Expected life	5 years from the
	date of grant
預期年期	自授出日期起計五年
Risk-free rate	2.056%
無風險利率	2.056%
Expected dividend yield	0%
預期股息率	0%
Exercise multiple	2.x
行使倍數	2.x

The Group recognised an expense of approximately HK$845,000 in relation to share options granted by the Company for the year ended 31 March 2020.

本集團就本公司於截至二零二零年三月三十一日止年度所 授出的購股權確認開支約為845,000港元。

30 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

Details regarding the number of Options, date of grant, exercise period and exercise price of the Options granted under the Share Option Scheme are set out below:

有關根據購股權計劃授出購股權之購股權數目、授出日 期、行使期及行使價之詳情載列如下：

Name of participants Date of Options granted Total number of Options granted 參與者姓名 授出購股權日期 已授出購股權 數目總數

Number of Options granted Vesting period Exercise period Exercise price of Options Closing price immediately before date of grant 已授出 購股權數目 歸屬期 行使期 購股權行使價 緊接授出日期 前之收市價 HK$ per share HK$ per share 港元╱股 港元╱股

Mr. CL Chan (Director and Chief executive officer) 2 January 2020 2,000,000 陳澤麟先生 （董事兼行政總裁） 二零二零年一月二日 Ms. Wai Hang Ying Helen (Director of KML Engineering) 2 January 2020 700,000 衛杏英女士 （高明科技工程的董事） 二零二零年一月二日 Ms. Woo (Company Secretary) 2 January 2020 300,000 胡女士 （公司秘書） 二零二零年一月二日 Employees 2 January 2020 6,800,000 僱員 二零二零年一月二日 Total 總計

2,000,000 2 January 2020 to 30 June 2021 1 July 2021 to 1 January 2025 0.259 0.25 二零二零年一月二日至 二零二一年六月三十日 二零二一年七月一日至 二零二五年一月一日 700,000 2 January 2020 to 30 June 2021 1 July 2021 to 1 January 2025 0.259 0.25 二零二零年一月二日至 二零二一年六月三十日 二零二一年七月一日至 二零二五年一月一日 300,000 2 January 2020 to 30 June 2021 1 July 2021 to 1 January 2025 0.259 0.25 二零二零年一月二日至 二零二一年六月三十日 二零二一年七月一日至 二零二五年一月一日 3,500,000 2 January 2020 to 30 June 2020 1 July 2020 to 1 January 2025 0.259 0.25 二零二零年一月二日至 二零二零年六月三十日 二零二零年七月一日至 二零二五年一月一日 3,300,000 2 January 2020 to 1 January 2021 2 January 2021 to 1 January 2025 0.259 0.25 二零二零年一月二日至 二零二一年一月一日 二零二一年一月二日至 二零二五年一月一日 9,800,000

31

高萌科技集團有限公司 • 二零一九/ 二零年年報

Report of Directors 董事會報告

Details of the movements of Options granted, exercised or cancelled/ lapsed during the year ended 31 March 2020 and still outstanding as at 31 March 2020 are as follows:

於截至二零二零年三月三十一日止年度內已授出、已行使 或已注銷╱已失效及於二零二零年三月三十一日尚未行使 之購股權變動詳情如下：

Name of participants 參與者姓名 Mr. CL Chan (Director and Chief executive officer) 陳澤麟先生 （董事兼行政總裁） Ms. Wai Hang Ying Helen (Director of KML Engineering) 衛杏英女士 （高明科技工程的董事） Ms. Woo (Company Secretary) 胡女士 （公司秘書） Employees 僱員 Total 總計

Outstanding as at 1 April 2019 Number of Options granted Number of Options exercised Number of Options cancelled Number of Options lapsed Outstanding as at 31 March 2020 於二零一九年 四月一日 尚未行使 已授出 購股權數目 已行使 購股權數目 已註銷 購股權數目 已失效 購股權數目 於二零二零年 三月三十一日 尚未行使 4,000,000 2,000,000 – 4,000,000 – 2,000,000 1,400,000 700,000 – 1,400,000 – 700,000 600,000 300,000 – 600,000 – 300,000 3,200,000 6,800,000 – 3,200,000 – 6,800,000

9,200,000 9,800,000 – 9,200,000 – 9,800,000

SHARE AWARD SCHEME

The Company adopted a share award scheme (the “ Share Award Scheme ”) on 5 November 2018 (the “ Adoption Date ”). Subject to any early termination as may be determined by the Board, the Share Award Scheme shall be valid and effective for a term of 15 years commencing on the Adoption Date. Please refer to the announcement dated 5 November 2018 for details.

There were no awarded shares granted, vested, forfeited or outstanding during the year ended 31 March 2020.

EQUITY-LINKED AGREEMENTS

Save for the Share Option Scheme and Share Award Scheme as set out in this annual report, no equity-linked agreement that would or might result in the Company issuing Shares, or that requiring the Company to enter into an agreement that would or might result in the Company issuing Shares, was entered into by the Company during the year or subsisted at the end of the year.

DEBENTURES ISSUED

The Company did not issue any debentures for the year ended 31 March 2020.

股份獎勵計劃

本公司於二零一八年十一月五日（「 採納日期 」）採納一項股 份獎勵計劃（「 股份獎勵計劃 」）。股份獎勵計劃將自採納日 期起生效，有效期為十五年，董事會可決定提前終止。有 關詳情，請參閱日期為二零一八年十一月五日的公告。

於截至二零二零年三月三十一日止年度，概無已授出、已 歸屬、已失效或未行使獎勵股份。

股權掛鉤協議

除本年報所載購股權計劃及股份獎勵計劃外，本公司於年 內或於年末不曾訂立或存有將會或可能導致本公司發行股 份或規定本公司訂立將會或可能導致本公司發行股份的協 議的股權掛鉤協議。

已發行債權證

截至二零二零年三月三十一日止年度，本公司概無發行任 何債權證。

32 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES

During the Reporting Period, neither the Company nor any of its subsidiaries had purchased, sold or redeemed any of the Company’s listed securities, except that trustee of the Share Award Scheme, pursuant to the terms of the rules and trust deed of the Share Award Scheme, purchased on the Stock Exchange a total of 1,665,000 Shares at a total consideration of approximately HK$406,000.

PRE-EMPTIVE RIGHTS

There is no provision for pre-emptive rights under the Articles of Association or the laws of the Cayman Islands that would oblige the Company to offer new Shares on a pro rata basis to the existing Shareholders.

NON-COMPETITION UNDERTAKING

Pursuant to the deed of non-competition dated 20 September 2017 (the “ Deed of Non-competition ”) entered into by the Group and Mr. KM Luk, Madam Leung, Mr. KL Luk, Mr. YC Luk and KML Holdings (collectively, the “ Controlling Shareholders ”) and as covenators (collectively, the “ Covenators ”), each of the Covenators has irrevocably and unconditionally undertaken to and covenanted with the Company (for itself and as trustee for its subsidiaries) that, subject to the exceptions as described in the Prospectus, during the period that the Deed of NonCompetition remains effective, he/she/it shall not, and shall procure that his/her/its associates (other than any members of the Group) will not, during the term of the Deed of Non-Competition, directly or indirectly, either for his/her/its own account or in conjunction with or on behalf of or for any other person, firm or company, whether for profit, reward or otherwise, (i) carry on, participate in, be interested or engaged in, or acquire or hold any right or interest (in each case whether as a shareholder, partner, agent, consultant, employee or otherwise) directly or indirectly in any business which is or likely to be in competition with the business currently from time to time engaged by the Group (the “ Restricted Business ”) in Hong Kong, Taiwan and any other country or jurisdiction which any member of the Group provides such services and/ or in which any member of the Group carries on its business currently and from time to time (the “ Territory ”); (ii) solicit, interfere with or endeavour to entice away from any member of the Group any person, firm, company or organisation who to his/her/its knowledge is now or has been a customer, supplier, subcontractor or employee of any member of the Group in the past twelve months before such proposed engagement or employment; or (iii) without prior written consent of the Company, make use of any information pertaining to the business, which have or may have come to his/her/its knowledge in his/her/its capacity as a Controlling Shareholder and/or Director for any purpose of his/her/its capacity as a Controlling Shareholder and/or Director for any purpose of his/her/its engaging, investing or participating in any Restricted Business in the Territory. For details of the above, please refer to the Prospectus.

The Company has received confirmations from the Controlling Shareholders confirming their compliance with the Deed of Noncompetition respectively during the Reporting Period for disclosure in this report.

The independent non-executive Directors have reviewed the Deed of Noncompetition during the Reporting Period and based on the information and confirmation provided by or obtained from the Controlling Shareholders and they were satisfied that the Controlling Shareholders have duly complied with the Deed of Non-competition during the Reporting Period.

購買、出售或贖回上市證券

於報告期間，本公司或任何其附屬公司概無購買、出售或 贖回任何本公司的上市證券，惟股份獎勵計劃的受託人 根據股份獎勵計劃的規則及信託契據的條款以總代價約 406,000港元於聯交所購買合共1,665,000股股份除外。

優先購買權

根據組織章程細則或開曼群島法律概無優先購買權條文， 規定本公司須按比例向現有股東發售新股份。

不競爭承諾

根據本集團與陸鑑明先生、梁女士、陸季農先生、陸彥彰 先生及KML Holdings（統稱「 控股股東 」）及作為契諾人（統稱 「 契諾人 」）簽立日期為二零一七年九月二十日的不競爭契據 （「 不競爭契據 」），契諾人各自已不可撤回及無條件地向本 公司（為其本身及作為其附屬公司的受託人）承諾及立約， 除非符合招股章程所述的例外情況，於不競爭契據仍屬有 效期間，彼將不會並將促使其聯繫人（本集團任何成員公司 除外）不會於不競爭契據有效期間，為彼╱其本身或聯同或 代表任何其他人士、商號或公司，為溢利、收益或其他利 益而直接或間接(i)在香港、台灣及本集團任何成員公司提 供相關服務及╱或本集團任何成員公司現時及不時進行業 務所在的任何其他國家或司法權區（「 境內 」）發展、經營、 持有權益或從事，或收購或持有權利或利益（於各情況下不 論為股東、合夥人、代理、顧問、僱員或其他身份）與本 集團現時及不時參與的業務活動構成競爭或可能構成競爭 的任何業務（「 受限制業務 」）；(ii)招攬、干預或設法從本集 團任何成員公司招引任何據其所知現時或於建議委聘或僱 用前十二個月內為本集團任何成員公司的客戶、供應商、 分包商或僱員的任何人士、商號、公司或組織；或(iii)在未 經本公司事先書面同意的情況下，利用因作為我們的控股 股東及╱或董事而已經或可能獲悉有關業務的任何資料， 以於境內從事、投資或參與任何受限制業務。有關上述詳 情，請參閱招股章程。

本公司已接獲控股股東的確認，彼等於報告期間已遵守不 競爭契據，以披露於本報告。

獨立非執行董事於報告期間已審閱不競爭契據及根據控股 股東提供或自其獲悉的資料及確認，彼等信納控股股東於 報告期間已恰當遵守不競爭契據。

33

高萌科技集團有限公司 • 二零一九/ 二零年年報

Report of Directors 董事會報告

DIRECTORS’ INTEREST IN COMPETING BUSINESS

董事於競爭業務中的權益

Save as disclosed in this annual report, during the Reporting Period, none of the Directors or their respective associates had engaged in or had any interest in any business which competes or is likely to compete, either directly or indirectly, with the businesses of the Group.

CONNECTED TRANSACTIONS

除本年報所披露者外，於報告期間，概無董事或彼等各自 的聯繫人從事與本集團業務直接或間接競爭或可能競爭的 任何業務或於該等業務中擁有權益。

關連交易

During the Reporting Period, the Group entered into certain connected transactions with the connected persons of the Company, namely K M L Limited and Logistic Industrial Supply Company Limited.

NON-EXEMPT CONTINUING CONNECTED TRANSACTION

於報告期間，本集團與本公司關連人士（即圖遠有限公司及 洛士工業器材有限公司）訂立若干關連交易。

非獲豁免持續關連交易

Tenancy Agreement

KML Engineering, a wholly-owned subsidiary of the Company, as tenant entered into the tenancy agreement on 12 September 2017 (the “ First Tenancy Agreement ”) with K M L Limited as landlord, pursuant to which K M L Limited agreed to lease to KML Engineering the Premises and certain parking spaces (as detailed in the Prospectus). The Directors believe that the entering of the First Tenancy Agreement is necessary for the continuous use of the premises and parking spaces by KML Engineering and the growth and operations of the Group.

租賃協議

於二零一七年九月十二日，本公司的全資附屬公司高明科 技工程（作為租戶）與圖遠有限公司（作為業主）訂立租賃協 議（「 第一份租賃協議 」），據此，圖遠有限公司同意向高明 科技工程租賃該等物業及若干泊車位（詳述於招股章程）。 董事相信訂立第一份租賃協議對高明科技工程持續使用物 業及泊車位以及本集團的增長及營運而言屬必需。

K M L Limited is a company incorporated in Hong Kong and owned as to 78.2% by Golden Sail International Limited (“ Golden Sail ”), which is wholly-owned by a trustee for a family trust where the beneficiaries include Mr. KM Luk and Madam Leung. Therefore, K M L Limited is an associate of each of Mr. KM Luk and Madam Leung, and hence is a connected person of the Company.

圖遠有限公司為於香港註冊成立的公司及由Golden Sail International Limited（「 Golden Sail 」）擁有78.2%，Golden Sail由一名受託人代家族信託（受益人包括陸鑑明先生及梁 女士）全資擁有。因此，圖遠有限公司為陸鑑明先生及梁女 士的聯繫人，故為本公司的關連人士。

The principal terms of the First Tenancy Agreement are set out below:

第一份租賃協議的主要條款載於下文：

• (i) The term of the First Tenancy Agreement is for a fixed term commencing on the Listing Date and expiring on 31 March 2020 unless terminated earlier upon certain events of default as provided in the Tenancy Agreement.

• (i) 第一份租賃協議的期限乃固定，除非因發生租賃協 議訂明的若干違約事件而提前終止，否則將自上市 日期起計及於二零二零年三月三十一日到期。

• (ii) For the year ended 31 March 2020, the monthly rent of approximately HK$398,000 per calendar month payable by KML Engineering (exclusive of management fees, government rates and rent and outgoings).

• (ii) 截至二零二零年三月三十一日止年度，高明科技工 程應付的月租約為398,000港元（不包括管理費、政 府差餉、地租及支出）。

• (iii) The maximum aggregate rent payable by KML Engineering under the First Tenancy Agreement for the year ended 31 March 2020 sets out as below:

• (iii) 於截至二零二零年三月三十一日止年度，高明科技 工程根據第一份租賃協議應付的最高租金總額載列 如下：

Maximum aggregate rent

Maximum aggregate rent for the year ended 31 March 2020 截至二零二零年 三月三十一日止年度 的最高租金總額 HK$’000 千港元 最高租金總額 4,776

34 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

The actual aggregate rent payable by KML Engineering under the First Tenancy Agreement for the year ended 31 March 2020 amounted to approximately HK$4,776,000.

During the Reporting Period, the independent non-executive Directors have reviewed the aforesaid continuing connected transactions and confirmed that the transactions have been entered into:

• (i) in the ordinary and usual course of business of the Group;

• (ii) on normal commercial terms; and

• (iii) in accordance with relevant agreement governing them on terms that are fair and reasonable and in the interests of the Shareholders as a whole.

Ernst & Young, the Company’s auditors (the “ Auditor ”), were engaged to report on the Group’s continuing connected transactions in accordance with Hong Kong Standard on Assurance Engagements 3000 Assurance Engagements Other Than Audits or Reviews of Historical Financial Information and with reference to Practice Note 740 Auditor’s Letter on Continuing Connected Transactions under the Hong Kong Listing Rules issued by the Hong Kong Institute of Certified Public Accountants. Ernst & Young have issued their unqualified letter containing the findings and conclusions in respect of the continuing connected transactions disclosed above by the Group in accordance with Rule 20.54 of the GEM Listing Rules. A copy of the auditor’s letter has been provided by the Company to the Stock Exchange.

On 3 September 2018, KML Engineering and K M L Limited entered into the second tenancy agreement (the “ Second Tenancy Agreement ”), pursuant to which KML Engineering agreed to rent additional premises situated at the same building of the First Tenancy Agreement. The applicable percentage ratios (other than the profit ratio) for the Second Tenancy Agreement is less than 5% and under HK$3.0 million and hence, these transactions, on a standalone basis, constitute de minimis continuing connected transactions pursuant to Rule 20.74 of the GEM Listing Rules and are fully exempt from the shareholders’ approval, annual review and all disclosure requirements under Chapter 20 of the GEM Listing Rules.

Save as disclosed in this annual report, during the Reporting Period, the Company had no connected transactions or continuing connected transactions which fell to be disclosed in accordance with the provisions under Chapter 20 of the GEM Listing Rules in relation to the disclosure of connected transactions and continuing connected transactions.

The related party transactions as disclosed in note 26 to the consolidated financial statements constituted as connected transactions or continuing connected transactions as defined in Chapter 20 of the GEM Listing Rules and in compliance with the disclosure requirements under Chapter 20 of the GEM Listing Rules.

於截至二零二零年三月三十一日止年度，高明科技工程根 據第一份租賃協議應付的實際租金總額約為4,776,000港 元。

於報告期間，獨立非執行董事已審閱上述持續關連交易及 確認該等交易乃：

• (i) 於本集團的日常及一般業務過程中訂立；

• (ii) 按正常商業條款訂立；及

• (iii) 按照監管彼等的有關協議，按公平合理及符合股東 的整體利益之條款訂立。

本公司核數師（「 核數師 」）安永會計師事務所已獲委聘，根 據香港會計師公會頒佈的香港核證工作準則第3000號除審 核或審閱歷史財務信息以外的核證應聘工作」，並參考核數 師就香港上市規則項下持續關連交易發出的函件應用指引 第740項，就本集團的持續關連交易呈交報告。安永會計 師事務所已發出無保留意見函件，當中載有其有關持續關 連交易（本集團已根據GEM上市規則第20.54條對此作出披 露）的調查結果及結論。本公司已向聯交所提供該份核數師 函件的副本。

於二零一八年九月三日，高明科技工程與圖遠有限公司訂 立第二份租賃協議（「 第二份租賃協議 」），據此，高明科技 工程同意出租位於第一份租賃協議相同樓宇的其他物業。 第二份租賃協議的適用百分比率（不包括溢利率）低於5%及 少於3.0百萬港元，因此，該等交易按單獨基準構成GEM 上市規則第20.74條的最低豁免水平的持續關連交易，及根 據GEM上市規則第20章全面獲豁免股東批准、年度審閱及 所有披露規定。

除本年報所披露者外，於報告期間，本公司並無根據GEM 上市規則第20章項下有關披露關連交易及持續關連交易的 條文須予披露的關連交易或持續關連交易。

誠如綜合財務報表附註26所披露，關聯方交易構成關連交 易或持續關連交易（定義見GEM上市規則第20章）及遵守 GEM上市規則第20章項下的披露規定。

高萌科技集團有限公司 • 二零一九/ 二零年年報 35

Report of Directors 董事會報告

MATERIAL LEGAL PROCEEDINGS

For the year ended 31 March 2020, the Company was not engaged in any litigation or arbitration of material importance and no litigation or claim of material importance is known to the Directors to be pending or threatening against the Company.

PERMITTED INDEMINTY PROVISION

Pursuant to the Articles of Association, Directors and senior officers of the Company shall be entitled to be indemnified out of the assets of the Company against all losses or liabilities which he may sustain or incur in or about the execution of the duties of his office or otherwise in relation thereto, and no Director or officer shall be liable for any loss, damages or misfortune which may happen to or be incurred by the Company in the execution of the duties of his office or in relation thereto. The Company has arranged appropriate Directors and officers liability insurance coverage for the Directors and officers of the Company since the Listing Date.

SUBSEQUENT EVENTS

Save as disclosed in this report, up to the Date of this Report, there were no subsequent events after this reporting period.

AUDIT COMMITTEE

The audit committee of the Company (the “ Audit Committee ”) had, together with the management, reviewed the accounting principles and policies adopted by the Group and the consolidated financial statements for the year ended 31 March 2020.

CORPORATE GOVERNANCE

The Company is committed to maintaining high standards of corporate governance practices. Information on the corporate governance practices adopted by the Company is set out in the Corporate Governance Report on pages 38 to 52 of this annual report.

The compliance officer of the Company is Mr. YC Luk, whose biographical details are set out on page 17. The company secretary is Ms. Woo who satisfies the qualification requirement under Rules 5.14 and 11.07 of the GEM Listing Rules as the company secretary of the Company. Ms. Woo’s biographical details are set out on page 20 of this annual report.

INTERESTS OF COMPLIANCE ADVISER

As notified by the Company’s compliance adviser, Kingsway Capital Limited (“ Kingsway Capital ”), neither Kingsway Capital nor any of its directors or employees or close associates had any interest in the share capital of the Company or any member of the Group (including options or rights to subscribe for such securities) or otherwise in relation of the Company which is required to be notified to the Company pursuant to Rule 6A.32 of the GEM Listing Rules and all Directors and the controlling shareholders of the Company and their respective close associates as referred to in Rule 11.04 of the GEM Listing Rules (except for the compliance adviser service provided by Kingsway Capital as at the Date of this Report).

重大法律訴訟

於截至二零二零年三月三十一日止年度，本公司概無涉及 任何重大訴訟或仲裁，及董事並不知悉任何仍未了結或本 公司面臨威脅的重大訴訟或索償。

獲准許彌償條文

根據組織章程細則，本公司董事及高級職員就其執行職務 或與此有關所蒙受或招致的一切損失或負債，均有權從本 公司資產中獲得彌償保證，而各董事或高級職員概無須就 其執行職務可能出現或招致的任何損失、損害或不幸情況 負責。自上市日期起，本公司已為本公司董事及高級職員 安排合適的董事及高級職員責任保險。

期後事項

除本報告所披露者外，直至本報告日期，概無本報告期後 事項。

審核委員會

本公司審核委員會（「 審核委員會 」）已連同管理層審閱本集 團採納的會計原則及政策及截至二零二零年三月三十一日 止年度的綜合財務報表。

企業管治

本公司致力維持高水平的企業管治常規。有關本公司採納 的企業管治常規的資料載列於本年報第38至52頁的企業管 治報告。

本公司的合規主任為陸彥彰先生，其履歷詳情載列於本年 報第17頁。公司秘書為胡女士，其作為本公司的公司秘 書符合GEM上市規則第5.14條及第11.07條項下的資格規 定。胡女士的履歷詳情載列於本年報第20頁。

合規顧問的權益

誠如本公司合規顧問滙富融資有限公司（「 滙富融資 」）告 知，滙富融資或其任何董事或僱員或緊密聯繫人概無於本 公司或本集團任何成員公司的股本中擁有任何權益（包括認 購該等證券的購股權或權利）或擁有根據GEM上市規則第 6A.32條須知會本公司及全體董事及本公司控股股東及彼 等按GEM上市規則第11.04條所指的各自緊密聯繫人與本 公司有關的其他權益（滙富融資於本報告日期提供的合規顧 問服務除外）。

36 KML Technology Group Limited • Annual Report 2019/20

Report of Directors 董事會報告

SUFFICIENCY OF PUBLIC FLOAT

Based on information publicly available to the Company and to the best knowledge of the Directors, at least 25% of the Company’s total issued shares, the prescribed minimum percentage of public float approved by the Stock Exchange and permitted under the GEM Listing Rules, was held by the public at all times during the Reporting Period and up to the latest practicable date prior to the issue of this report.

AUDITOR

Deloitte Touche Tohmatsu resigned as the auditor of the Company with effect from 2 March 2020. With the recommendation from the Audit Committee and as approved by the Board, Ernst & Young was appointed as the auditor of the Company with effect from 2 March 2020 to fill the casual vacancy following the resignation of Deloitte Touche Tohmatsu and to hold office until the conclusion of the next annual general meeting of the Company.

The accompanying financial statements prepared in accordance with Hong Kong Financial Reporting Standards have been audited by Ernst & Young.

On behalf of the Board KML Technology Group Limited Luk Kam Ming Chairman and Executive Director

Hong Kong, 18 June 2020

足夠公眾持股量

根據本公司可公開獲取的資料及據董事所深知，於報告期 間及直至本報告發行前最後實際可行日期，本公司已發行 股份總數中至少25%（聯交所批准及根據GEM上市規則所 允許的規定最低公眾持股百分比）一直由公眾持有。

核數師

德勤 • 關黃陳方會計師行已辭任本公司之核數師，自二零 二零年三月二日起生效。在審核委員會的推薦下及經董事 會批准後，安永會計師事務所已獲委任為本公司之核數 師，自二零二零年三月二日起生效，以填補德勤 • 關黃陳 方會計師行辭任後之臨時空缺，任期直至本公司下屆股東 週年大會結束時為止。

根據香港財務報告準則編製之隨附財務報表已由安永會計 師事務所審核。

代表董事會 高萌科技集團有限公司 陸鑑明 主席兼執行董事

香港，二零二零年六月十八日

37

高萌科技集團有限公司 • 二零一九/ 二零年年報

Corporate Governance Report 企業管治報告

CORPORATE GOVERNANCE PRACTICE

The Group is committed to maintaining high standards of corporate governance to safeguard the interests of the Shareholders and to enhance corporate value and accountability. The Company has adopted the Corporate Governance Code (the “ CG Code ”) as set out in Appendix 15 to the GEM Listing Rules as its own code of corporate governance. During the Reporting Period, the Company has applied the principles as set out in the CG Code contained in Appendix 15 to the GEM Listing Rules which are applicable to the Company and has complied with the CG Code.

THE BOARD

Responsibilities

The Board is responsible for the overall leadership of the Group, oversees the Group’s strategic decisions and monitors business and performance. The Board has delegated the authority and responsibility for day-today management and operation of the Group. To oversee particular aspects of the Company’s affairs, the Board has established four Board committees including the Audit Committee, the remuneration committee (the “ Remuneration Committee ”), the nomination committee (the “ Nomination Committee ”) and the risk management committee (the “ Risk Management Committee ”) (together, the “ Board Committees ”). The Board has delegated to the Board Committees responsibilities as set out in their respective terms of reference.

All Directors had carried out duties in good faith and in compliance with applicable laws and regulations, and have acted in the interests of the Company and the Shareholders at all times.

The Company has arranged appropriate liability insurance in respect of legal action against the Directors. The insurance coverage will be reviewed on an annual basis.

Board Composition

The Board comprises four executive Directors and three independent nonexecutive Directors as follows:

Executive Directors:

Mr. LUK Kam Ming Mr. CHAN Chak Lun Philip Mr. LUK Kwai Lung Mr. LUK Yin Cheung

Independent Non-executive Directors:

Mr. LAU On Kwok Mr. LAW Wing Chi Stephen Dr. TSE Chi Kong

The biographies of the Directors are set out under the section headed “Directors and Senior Management” of this annual report.

企業管治常規

本集團致力維持高水平的企業管治，以保障股東權益以及 提升企業價值及問責性。本公司已採納GEM上市規則附錄 十五所載的企業管治守則（「 企業管治守則 」）作為其本身的 企業管治守則。於報告期間，本公司已採用GEM上市規則 附錄十五所載企業管治守則項下適用於本公司的原則，並 已遵守企業管治守則。

董事會

職責

董事會負責本集團的整體領導，監督本集團的戰略決策及 監控業務與表現。董事會已授出有關本集團日常經營管理 方面的權力及職責。為監督本公司事務的特定方面，董事 會已成立四個董事委員會，包括審核委員會、薪酬委員會 （「 薪酬委員會 」）、提名委員會（「 提名委員會 」）及風險管理 委員會（「 風險管理委員會 」）（統稱「 董事委員會 」）。董事會 已向董事委員會授權其各自職權範圍所載的職責。

全體董事以誠信態度執行職責，並遵守適用法例及規例， 且一直以符合本公司及股東的利益行事。

本公司已就針對董事的法律訴訟安排適當的責任保險，保 險範圍將每年進行審閱。

董事會組成

董事會由下列四名執行董事及三名獨立非執行董事組成：

執行董事：

陸鑑明先生 陳澤麟先生 陸季農先生 陸彥彰先生

獨立非執行董事：

劉安國先生 羅永志先生 謝智剛博士

各董事履歷載於本年報「董事及高級管理層」一節。

38 KML Technology Group Limited • Annual Report 2019/20

Corporate Governance Report 企業管治報告

During the Reporting Period, the Board has met at all times the requirements under rules 5.05(1) and 5.05(2) of the GEM Listing Rules relating to the appointment of at least three independent non-executive Directors with at least one independent non-executive Director possessing appropriate professional qualifications or accounting or related financial management expertise.

The Company has also complied with rule 5.05A of the GEM Listing Rules relating to the appointment of independent non-executive Directors representing at least one-third of the Board.

The Company believes that the diversity of Board members will be immensely beneficial for the enhancement of the Company’s performance. Therefore, the Company has adopted a Board diversity policy to ensure that the Company will, when determining the composition of the Board, consider Board diversity in terms of, among other things, age, cultural and educational background, professional experience, skills and knowledge. All Board appointments will be based on merits, and candidates will be considered against objective criteria, having due regard for the benefits of diversity of the Board.

The Company has received the confirmation from each of the independent non-executive Directors about his independence pursuant to rule 5.09 of the GEM Listing Rules, the Company considers all of them to be independent.

Save as disclosed in the Directors’ biographies set out in the section headed “Directors and Senior Management” in this annual report, none of the Directors have any personal relationship (including financial, business, family or other material or relevant relationship) with any other Directors and the chief executive of the Company.

All Directors, including independent non-executive Directors, have brought a wide spectrum of valuable business experience, knowledge and professionalism to the Board for its efficient and effective functioning. Independent non-executive Directors are invited to serve on the Audit Committee, the Remuneration Committee, the Nomination Committee and the Risk Management Committee.

As regards the CG Code provision requiring directors to disclose the number and nature of offices held in public companies or organisations and other significant commitments as well as the identity of the public companies or organisations and the time involved to the Company, the Directors have agreed to disclose their commitments and any subsequent change to the Company in a timely manner.

於報告期間，董事會一直遵守GEM上市規則第5.05(1)及 5.05(2)條有關委任至少三名獨立非執行董事，而其中至少 有一名獨立非執行董事擁有適當的專業資格或會計或相關 財務管理專長的規定。

本公司亦遵守GEM上市規則第5.05A條有關委任的獨立非 執行董事佔董事會人數至少三分之一的規定。

本公司相信董事會成員多元化將對加強本公司表現益處良 多。因此，本公司已採納董事會多元化政策，以確保在釐 定董事會成員組合時會從年齡、文化及教育背景、專業經 驗、技能及知識等多個方面考慮董事會多元化。董事會所 有委任均以用人唯才為基礎，並在考慮候選人時以客觀條 件顧及董事會多元化之裨益。

本公司已接獲各獨立非執行董事根據GEM上市規則第5.09 條之規定就其獨立性而發出之確認，本公司認為彼等均為 獨立人士。

除本年報「董事及高級管理層」一節所載董事履歷中披露者 外，概無董事與任何其他董事及本公司主要行政人員有任 何個人關係（包括財務、業務、家族或其他重大或相關關 係）。

全體董事（包括獨立非執行董事）均為董事會帶來各種不同 的寶貴營商經驗、知識及專門技能，促進董事會高效及有 效運作。獨立非執行董事獲邀出任審核委員會、薪酬委員 會、提名委員會及風險管理委員會成員。

鑒於企業管治守則條文要求董事向本公司披露於公眾公司 或機構擔任職務的數量及性質及其他重大承擔，以及公眾 公司或機構的身份及所投入時間，董事已同意適時向本公 司披露彼等的承擔及任何後續變動。

39

高萌科技集團有限公司 • 二零一九/ 二零年年報

Corporate Governance Report 企業管治報告

INDUCTION AND CONTINUOUS PROFESSIONAL DEVELOPMENT

入職及持續專業發展

Each newly appointed Director is provided with necessary induction and information to ensure that he/she has a proper understanding of the Group’s operations and businesses as well as his/her responsibilities under relevant statues, laws, rules and regulations. The Company also provides regular updates on latest development and changes in the GEM Listing Rules and other relevant legal and regulatory requirements from time to time. The Directors are also provided with regular updates on the Group’s performance, position and prospects to enable the Board as a whole and each Director to discharge his duties.

所有新委任的董事均獲提供必要的入職培訓及資料，以確 保彼對本集團的營運及業務以及彼於相關法規、法例、規 則及規例下的責任有適當了解。本公司亦定期提供GEM上 市規則及其他相關法律及監管規定之不時最新發展及變動 的更新資料。董事亦定期獲提供有關本集團表現、狀況及 前景的最新資料，以便董事會全體及各董事履行彼等的職 責。

Directors are encouraged to participate in continuous professional development seminars to develop and refresh their knowledge and skills. The company secretary of the Company has from time to time updated and provided the Directors with written training materials relating to the roles, functions and duties of a director of a listed issuer on GEM of the Stock Exchange.

本公司鼓勵董事參與持續專業發展研討會，以發展及更新 彼等的知識及技能。本公司的公司秘書不時向董事更新及 提供有關聯交所GEM上市發行人董事角色、職能及職責的 書面培訓資料。

The professional trainings of the Directors during the year ended 31 March 2020 are as follows:

董事於截至二零二零年三月三十一日止年度參與的專業培 訓如下：

Directors		Type of trainings
董事		培訓類別
Executive Directors	執行董事
Mr. LUK Kam Ming	陸鑑明先生	A, B
Mr. CHAN Chak Lun Philip	陳澤麟先生	A, B
Mr. LUK Kwai Lung	陸季農先生	A, B
Mr. LUK Yin Cheung	陸彥彰先生	A, B
Independent Non-Executive Directors	獨立非執行董事
Mr. LAU On Kwok	劉安國先生	A, B
Mr. LAW Wing Chi Stephen	羅永志先生	A, B
Dr. TSE Chi Kong	謝智剛博士	A, B

Notes:

A: Attending seminars and/or meetings and/or forums and/or briefings

B: Reading materials relevant to corporate governance, director’s duties and responsibilities, listing rules and other relevant ordinances

CHAIRMAN AND CHIEF EXECUTIVE OFFICER

附註：

A： 出席研討會及╱或會議及╱或論壇及╱或簡報會

B： 閱覽企業管治、董事職責及責任、上市規則及其他相關條例的 相關材料

主席及行政總裁

Under code provision A.2.1 of the CG Code, the roles of chairman and chief executive officer should be separate and performed by different individuals.

根據企業管治守則守則條文第A.2.1條，主席及行政總裁的 角色應予以區分及由不同人士擔任。

The chairman of the Board and the chief executive officer of the Company (the “ Chief Executive Officer ”) are currently two separate positions held by Mr. KM Luk and Mr. CL Chan, respectively, with clear distinction in responsibilities. Mr. KM Luk is responsible for devising strategies for the continuous development of the Group, overseeing the Group’s business operations and financial performance, as well as leading the Board in performing its functions while Mr. CL Chan is responsible for managing the overall business operations and executing business strategies of the Group.

董事會主席及本公司行政總裁（「 行政總裁 」）目前由陸鑑明 先生及陳澤麟先生分別擔任，其職責範圍有明確區分。陸 鑑明先生負責設計本集團持續發展策略、監督本集團業務 營運及財務表現以及領導董事會履行其職能，而陳澤麟先 生負責管理本集團整體業務營運及執行業務策略。

40 KML Technology Group Limited • Annual Report 2019/20

Corporate Governance Report 企業管治報告

TERMS OF APPOINTMENT AND RE-ELECTION OF DIRECTORS

Each of the executive Directors has signed a service contract with the Company for an initial term of three years commencing from the Listing Date, subject to termination as provided in the service contract.

Each of the independent non-executive Directors has signed a letter of appointment with the Company for an initial term of three years commencing from the Listing Date, which may be renewable subject to both parties’ agreement.

None of the Directors has a service contract which is not determinable by the Group within one year without payment of compensation (other than statutory compensation).

The procedures and process of appointment, re-election and removal of Directors are set out in the Articles of Association. The Nomination Committee is responsible for reviewing the Board composition and making recommendations to the Board on the appointment or re-election of Directors and succession planning for Directors.

COMPLIANCE WITH THE REQUIRED STANDARD OF DEALINGS IN SECURITIES TRANSACTIONS BY DIRECTORS

The Company has adopted the required standard of dealings set out in Rules 5.48 to 5.67 of the GEM Listing Rules as its own code of conduct regarding Directors’ securities transactions in the securities of the Company.

The Company has made specific enquiries to all Directors about their compliance with the required standard of dealings from the Listing Date and up to 31 March 2020, without noticing any violation of the required standard.

DELEGATION BY THE BOARD

The Board reserves for its decision on all major matters of the Company, including approval and monitoring of all policy matters, overall strategies and budgets, risk management and internal control systems, material transactions (in particular those that may involve conflict of interests), financial information, appointment of Directors and other significant financial and operational matters. Directors are provided with sufficient resources to seek independent professional advice in performing their duties at the Company’s expense and are encouraged to access and to consult with the Company’s senior management independently.

The daily management, administration and operation of the Group are delegated to the senior management. The delegated functions and responsibilities are periodically reviewed by the Board. Approval has to be obtained from the Board prior to any significant transactions entered into by the management.

董事的委任年期及重選連任

各執行董事已與本公司訂立服務合約，初始年期為自上市 日期起計為期分別三年，惟可須根據服務合約規定予以終 止。

各獨立非執行董事已與本公司訂立委任函，初始年期為自 上市日期起計為期三年，可按雙方協定予以重續。

概無董事與本集團訂有任何本集團如無作出賠償（法定賠償 除外）則不可於一年內終止的服務合約。

董事的委任、重選連任及罷免程序及步驟載於組織章程細 則。提名委員會負責檢討董事會的組成及就董事的委任、 重選連任及繼任計劃向董事會提供推薦建議。

遵守董事進行證券交易的必守標準

本公司已採納GEM上市規則第5.48至5.67條所載交易必守 標準作為其本身就董事進行本公司證券交易的操守準則。

本公司已就全體董事於截至二零二零年三月三十一日止年 度遵守交易必守標準的情況向彼等作出特定查詢，並無發 現任何違反必守標準的情況。

董事會的授權

董事會對本公司所有重大事宜保留決策權，包括：批准及 監督一切政策事宜、整體策略及預算、風險管理及內部監 控系統、重大交易（特別是可能牽涉利益衝突者）、財務資 料、委任董事及其他重大財務及營運事宜。董事於履行彼 等職責時獲提供充足資源尋求獨立專業意見，費用由本公 司承擔。彼等亦可向本公司高級管理層進行獨立諮詢。

本集團的日常管理、行政及營運交予高級管理層負責。授 權職能及職責由董事會定期檢討。管理層訂立任何重大交 易前須取得董事會批准。

高萌科技集團有限公司 • 二零一九/ 二零年年報

41

Corporate Governance Report 企業管治報告

CORPORATE GOVERNANCE FUNCTION

The Board recognises that corporate governance should be the collective responsibility of the Directors which includes:

• (i) to review and monitor the Company’s policies and practices on compliance with legal and regulatory requirements;

• (ii) to review and monitor the training and continuous professional development of the Directors and senior management;

• (iii) to develop, review and monitor the codes of conduct and compliance manuals applicable to employees and the Directors;

• (iv) to develop and review the Company’s policies and practices on corporate governance and make recommendations to the Board on such matters;

• (v) to review the Company’s compliance with the CG Code and disclosure in the corporate governance report; and

• (vi) to review and monitor the Company’s compliance with the Company’s whistleblowing policy.

BOARD MEETINGS

The Company adopts the practice of holding Board meetings regularly, at least four times a year, and at approximately quarterly intervals. Notices of not less than fourteen days are given for all regular Board meetings to provide all Directors with an opportunity to attend and include matters in the agenda for a regular meeting.

For other Board and Board Committee meetings, reasonable notice is generally given. The agenda and accompanying board papers are despatched to the Directors or Board Committees members at least three days before the meetings to ensure that they have sufficient time to review the papers and are adequately prepared for the meetings. When Directors or Board Committee members are unable to attend a meeting, they will be advised of the matters to be discussed and given an opportunity to make their views known to the chairman of the Board or the relevant Board Committees prior to the meeting. Minutes of the meetings are kept by the company secretary with copies circulated to all Directors to the relevant Board Committees members for information and records.

Minutes of the Board meetings and Board Committees meetings are recorded in sufficient details about the matters considered by the Board and the Board Committees and the decisions reached, including any concerns raised by the Directors or the Board Committees members. Draft minutes of each Board meeting and Board Committee meeting are sent to the Directors or the Board Committees members for comments within a reasonable time after the date on which the meeting is held. Minutes of the Board meetings and the Board Committees are open for inspection by Directors.

企業管治職能

董事會確認，企業管治應屬董事的共同責任，包括：

• (i) 檢討及監察本公司在遵守法律及監管規定方面的政 策及常規；

• (ii) 檢討及監察董事及高級管理層的培訓及持續專業發 展；

• (iii) 制定、檢討及監察適用於僱員及董事的操守準則及 合規手冊；

• (iv) 制定及檢討本公司的企業管治政策及常規，並就有 關事宜向董事會提出建議；

• (v) 檢討本公司遵守企業管治守則的情況及企業管治報 告的披露資料；及

• (vi) 檢討及監察本公司遵守其舉報政策的情況。

董事會會議

本公司採納定期舉行董事會會議之慣例，每年至少舉行四 次會議，大約每季度舉行一次。全體董事就所有定期董事 會會議會獲發不少於十四天的通知，令彼等有機會出席會 議及於定期會議議程內載入有關事宜。

就其他董事會及董事委員會會議而言，一般會發出合理時 間的通知。會議議程及隨附董事會文件在會議日期前至少 三天寄發予董事或董事委員會成員，以確保彼等有充足時 間審閱有關文件及充分準備出席會議。倘董事或董事委員 會成員未能出席會議，則彼等會獲悉將予討論的事宜及於 會議召開前有機會知會董事會或相關董事委員會主席有關 彼等的意見。會議記錄由公司秘書保存，副本將於全體董 事或相關董事委員會成員間傳閱，以供參閱及記錄。

董事會會議及董事委員會會議的會議記錄會詳盡記錄董事 會及董事委員會所考慮的事宜及所達致的決定，包括董事 或董事委員會成員提出的任何問題。各董事會會議及董 事委員會會議的會議記錄草稿會於會議舉行日期後的合理 時間內寄送至各董事或董事委員會成員，以供彼等提出意 見。董事會及董事委員會的會議記錄可供董事查閱。

42 KML Technology Group Limited • Annual Report 2019/20

Corporate Governance Report 企業管治報告

During the Reporting Period, six board meetings and one general meeting were held and the attendance of each Director at these meetings is set out in the table below:

於報告期間，共舉行六次董事會會議及一次股東大會。各 董事於該等會議的出席情況載於下表：

		Board meeting(s)	General meeting(s)
Directors		Attended/Held	Attended/Held
		已出席╱已舉行	已出席╱已舉行
董事		董事會會議	股東大會
Executive Directors:	執行董事：
Mr. LUK Kam Ming	陸鑑明先生	6/6	1/1
Mr. CHAN Chak Lun Philip	陳澤麟先生	6/6	1/1
Mr. LUK Kwai Lung	陸季農先生	6/6	1/1
Mr. LUK Yin Cheung	陸彥彰先生	6/6	1/1
Independent Non-executive Directors:	獨立非執行董事：
Mr. LAU On Kwok	劉安國先生	6/6	0/1
Mr. LAW Wing Chi Stephen	羅永志先生	6/6	1/1
Dr. TSE Chi Kong	謝智剛博士	6/6	1/1

BOARD COMMITTEES

董事委員會

Audit Committee

The Audit Committee comprises three members, namely Mr. LAU On Kwok (chairman), Mr. LAW Wing Chi Stephen and Dr. TSE Chi Kong, all of them are independent non-executive Directors.

The principal duties of the Audit Committee include the following:

• (i) To review the relationship with the Auditor by reference to the work performed by the Auditor, their fees and terms of engagement, and make recommendations to the Board on the appointment, reappointment and removal of the Auditor;

• (ii) To review the financial statements and reports and consider any significant or unusual items raised by the Company’s staff responsible for the accounting and financial reporting function, compliance officer or the Auditor before submission to the Board; and

審核委員會

審核委員會目前由三名成員組成，即劉安國先生（主席）、 羅永志先生及謝智剛博士，彼等均為獨立非執行董事。

審核委員會的主要職責包括以下方面：

• (i) 透過參考核數師開展的工作、彼等的薪酬及委聘條 款檢討與核數師的關係，及就委任、續聘及罷免核 數師向董事會提出建議；

• (ii) 審閱財務報表及報告，並於遞交予董事會前考慮本 公司負責會計及財務報告職能的職員、合規主任或 核數師提出的任何重大或不尋常事項；及

• (iii) To review the adequacy and effectiveness of the Company’s financial reporting system, risk management and internal control systems and associated procedures, including the adequacy of the resources, staff qualifications and experience, training programmes and budget of the Company’s accounting and financial reporting function.

• (iii) 檢討本公司財務報告系統、風險管理及內部監控系 統及相關程序，包括本公司在會計及財務報告職能 方面的資源、員工資歷及經驗、培訓課程及預算是 否充足。

The written terms of reference of the Audit Committee are available on the websites of the Stock Exchange and the Company.

The Audit Committee had five meetings and two of the meetings with the Company’s external auditor during the Reporting Period.

審核委員會的書面職權範圍於聯交所及本公司網站可供查 閱。

審核委員會於報告期間已舉行五次會議，並與本公司的外 部核數師舉行兩次會議。

高萌科技集團有限公司 • 二零一九/ 二零年年報 43

Corporate Governance Report 企業管治報告

During the Reporting Period up to the Date of this Report, the Audit Committee had one meeting with the Auditor to discuss the annual audit for the year ended 31 March 2020 with the following matters:

• (i) reviewed the final results of the Group for the year ended 31 March 2020 as well as the audit report prepared by the Auditor relating to accounting issues and major findings in course of audit; and

• (ii) reviewed the financial reporting system, compliance procedures, (including the adequacy of resources, staff qualifications and experience, training programmes and budget of the Company’s accounting and financial reporting function), and the reappointment of the Auditor; the Board had not deviated from any recommendation given by the Audit Committee on the selection, appointment, resignation or dismissal of the Auditor.

Nomination Committee

The Nomination Committee currently comprises three members, namely Mr. LUK Kam Ming (chairman), Mr. LAW Wing Chi Stephen and Dr. TSE Chi Kong, the majority of the committee is comprised by independent non-executive Directors.

The principal duties of the Nomination Committee include the following:

• (i) to review the structure, size and composition (including the skills, knowledge and experience) of the Board at least annually and make recommendations on any proposed changes to the Board to complement the Company’s corporate strategy;

• (ii) to identify individuals suitably qualified to become Board members and select or make recommendations to the Board on the selection of individuals nominated for directorships;

• (iii) to assess the independence of independent non-executive Directors; and

• (iv) to make recommendations to the Board on the appointment or reappointment of Directors and the succession planning for Directors, in particular the chairman and the chief executive officer of the Company.

The Nomination Committee assesses the candidate or incumbent on criteria such as integrity, experience, skill and ability to commit time and effort to carry out the duties and responsibilities. The recommendations of the Nomination Committee will then be put to the Board for decision. The written terms of reference of the Nomination Committee are available on the websites of the Stock Exchange and the Company.

於報告期間及直至本報告日期，審核委員會與核數師舉行 一次會議，就截至二零二零年三月三十一日止年度的年度 審核的下列方面進行討論：

• (i) 審閱本集團截至二零二零年三月三十一日止年度之 末期業績，以及由核數師就有關會計事項及於審核 過程中的重大發現所編製的審核報告；及

• (ii) 檢討財務報告系統、合規程序（包括本公司在會計及 財務報告職能方面的資源、員工資歷及經驗、培訓 課程及有關預算是否充足）以及核數師的重新委任； 董事會並無偏離審核委員會就甄選、委任、辭任或 罷免核數師提出之任何推薦建議。

提名委員會

提名委員會現時由三名成員組成，即陸鑑明先生（主席）、 羅永志先生及謝智剛博士。該委員會大多數成員為獨立非 執行董事。

提名委員會的主要職責包括以下方面：

• (i) 至少每年檢討董事會的架構、人數及組成（包括技 能、知識及經驗），並就任何為配合本公司的企業策 略而擬對董事會作出的變動作出推薦建議；

• (ii) 物色具備合適資格之人士出任董事會成員，以及對 獲提名出任董事之人士進行甄選或就此向董事會作 出推薦建議；

• (iii) 評估獨立非執行董事的獨立性；及

• (iv) 就委任或重新委任董事以及董事（尤其是本公司主席 及行政總裁）繼任計劃向董事會提出建議。

提名委員會按誠信、經驗、技能以及為履行責任及職責所 付出之時間及努力等標準評估候選人或在任人。提名委員 會之建議將於其後提交董事會以作決定。提名委員會的書 面職權範圍於聯交所及本公司網站可供查閱。

44 KML Technology Group Limited • Annual Report 2019/20

Corporate Governance Report 企業管治報告

Policy on Directors Nomination

The Company has adopted a nomination policy stating the process and criteria to select and recommend candidates for directorship during the Reporting Period. In identifying suitable candidate qualified to become Board members, the Nomination Committee shall consider the attributes complementary to the Board, business experience and Board Expertise and skills, availability, motivation, integrity and independence of candidates.

The Nomination Committee had one meeting during the Reporting Period to assess the independence of independent non-executive Directors and consider the re-appointments of the retiring Directors.

Board Diversity Policy

The Board has adopted a board diversity policy, a summary of which is set out below:

• (i) With a view to achieving a sustainable and balanced development, the Company sees increasing diversity at the Board level as an essential element in supporting the attainment of its strategic objectives and its sustainable development;

• (ii) In designing the Board’s composition, Board diversity has been considered from a number of aspects, including but not limited to gender, age, cultural and educational background, ethnicity, professional experience, skills, knowledge and length of service;

• (iii) All Board appointments will be based on meritocracy, and candidates will be considered against objective criteria, having due regard for the benefits of diversity on the Board;

• (iv) Selection of candidates will be based on a range of diversity perspectives, including but not limited to gender, age, cultural and educational background, ethnicity, professional experience, skills, knowledge and length of service. The ultimate decision will be based on merit and contribution that the selected candidates will bring to the Board;

• (v) The Nomination Committee will report annually, in the Corporate Governance Report, on the Board’s composition under diversified perspectives, and monitor the implementation of this Policy; and

• (vi) The Nomination Committee will review this Policy, as appropriate, to ensure the effectiveness of this Policy. The Nomination Committee will discuss any revisions that may be required, and recommend any such revisions to the Board for consideration and approval.

董事提名政策

本公司已採納一項提名政策，指明於報告期間選擇及推薦 董事職務候選人的流程及標準。為識別合資格成為董事會 成員的合適候選人，提名委員會將考慮與董事會的互補、 候選人的業務經驗及董事會專業知識及技能、可用性、動 機、誠信及獨立性。

提名委員會於報告期間舉行一次會議以評估獨立非執行董 事的獨立性及考慮重新委任退任董事。

董事會多元化政策

董事會已採納董事會多元化政策，其概要載列如下：

• (i) 為達致可持續的均衡發展，公司視董事會層面日益 多元化為支持其達到戰略目標及維持可持續發展的 關鍵元素；

• (ii) 公司在設計董事會成員組成時，會從多個方面考慮 董事會成員多元化，包括但不限於性別、年齡、文 化及教育背景、種族、專業經驗、技能、知識及服 務任期；

• (iii) 董事會所有委任均以用人唯才為原則，並在考慮人 選時以客觀條件充分顧及董事會成員多元化的裨 益；

• (iv) 甄選人選將按一系列多元化範疇為基準，包括但不 限於性別、年齡、文化及教育背景、種族、專業經 驗、技能、知識及服務任期。最終將按人選的長處 及可為董事會提供的貢獻而作決定；

• (v) 提名委員會將每年在《企業管治報告》內匯報董事會 在多元化層面的組成，並監察本政策的執行；及

• (vi) 提名委員會將在適當時候審閱本政策，以確保本政 策行之有效。提名委員會將會討論任何或需作出的 修訂，再向董事會提出修訂建議，供董事會審批。

高萌科技集團有限公司 • 二零一九/ 二零年年報 45

Corporate Governance Report 企業管治報告

Remuneration Committee

The Remuneration Committee currently comprises three members, namely Dr. TSE Chi Kong (chairman), Mr. LAU On Kwok and Mr. LUK Kam Ming, the majority of the committee is comprised by independent non-executive Directors.

The principal duties of the Remuneration Committee include the following:

• (i) to make recommendations to the Board on the Company’s overall policy and structure for the remuneration of the Directors and senior management and on the establishment of a formal and transparent procedure for developing remuneration policy;

• (ii) to review and approve the management’s remuneration proposals with reference to the corporate goals and objectives determined by the Board, and assess performance of executive Directors and the terms of their service agreements;

• (iii) to make recommendations to the Board on the remuneration packages of individual executive Directors and senior management. These include benefits in kind, pension rights and compensation payments, including any compensation payable for loss or termination of their office or appointment;

• (iv) to make recommendations to the Board on the remuneration of non-executive Directors; and

• (v) to ensure that no Director or any of his/her associates (as defined in the GEM Listing Rules) is involved in deciding his/her own remuneration.

The written terms of reference of the Remuneration Committee are available on the websites of the Stock Exchange and the Company.

The Remuneration Committee had two meetings during the Reporting Period to discuss, review and make recommendations to the Board on the remuneration packages of individual executive Directors and senior management of the Company.

薪酬委員會

薪酬委員會現時由三名成員組成，即謝智剛博士（主席）、 劉安國先生及陸鑑明先生。該委員會大多數成員為獨立非 執行董事。

薪酬委員會的主要職責包括以下方面：

• (i) 就董事及高級管理層的整體薪酬政策及架構，以及 就設立正規且具透明度的程序以便制定薪酬政策， 向董事會提出推薦建議；

• (ii) 經參考董事會所訂企業目標及目的，檢討及批准管 理層的薪酬提案，並評估執行董事的表現以及其服 務協議條款；

• (iii) 就個別執行董事及高級管理層的薪酬待遇，包括實 物利益、退休金權利及賠償金額（包括喪失或終止職 務或委任應付的任何賠償）向董事會提出推薦建議；

• (iv) 就非執行董事的薪酬向董事會提出推薦建議；及

• (v) 確保任何董事或其任何聯繫人（定義見GEM上市規 則）不得參與訂定本身的薪酬。

薪酬委員會的書面職權範圍於聯交所及本公司網站可供查 閱。

於報告期間，薪酬委員會舉行兩次會議，討論、檢討及就 本公司個別執行董事及高級管理層的薪酬待遇向董事會提 出推薦建議。

46 KML Technology Group Limited • Annual Report 2019/20

Corporate Governance Report 企業管治報告

Remuneration of Directors and Senior Management

Particulars of the remuneration of the Directors and the five highest individuals during the Reporting Period are set out in note 8 to the consolidated financial statements. Pursuant to code provision B.1.5 of the CG Code, the remuneration of the members of the senior management (including Company Secretary and excluding the Directors) whose particulars are contained in the section headed “Directors and Senior Management” in this annual report for the year ended 31 March 2020 by band is set out below:

董事及高級管理層的薪酬

於報告期間，董事及五名最高薪酬人士的薪酬詳情載列於 綜合財務報表附註8。根據企業管治守則守則條文第B.1.5 條，其詳細資料載於截至二零二零年三月三十一日止年度 的本年報「董事及高級管理層」一節的高級管理層成員（包括 公司秘書；董事除外）按薪酬組別劃分的薪酬載列如下：

Remuneration band(in HK$)		Number of individuals
薪酬組別（港元）		人數
Not exceeding HK$1,000,000	不超過1,000,000港元	3
HK$1,000,001 to HK$1,500,000	1,000,001港元至1,500,000港元	1

Risk Management Committee

The Risk Management Committee comprises five members, namely Mr. LAW Wing Chi Stephen (chairman), Mr. CHAN Chak Lun Philip, Mr. LAU On Kwok, Mr. LUK Kwai Lung and Mr. LUK Yin Cheung.

The principal duties of the Risk Management Committee include the following:

• (i) to review the Group’s risk management system, including risk, capital and liquidity management framework, the Group’s risk tolerance capability, its risk policies and standards, and relevant risk limits, including the parameters used and the methodology adopted, and the processes used for identifying and assessing risks;

• (ii) to approve risk policies and standards, referring any new material policies/standards or material changes to existing policies/ standards/limits to the Board for approval;

• (iii) to discuss the risk management system with the management and ensure that the management has performed its duties to establish an effective system. The contents to be discussed include the Company’s resources for risk management, adequacy of qualifications and experiences of the employees, as well as adequacy of training courses and relevant budgets available to the employees;

• (iv) to review material risk exposures of the Group, including market, credit, insurance, operational, liquidity, and economic and regulatory capital risks against the Group’s risk measurement methodologies and management actions to monitor and control such exposures;

• (v) to review annually the changes, since the last annual review, in the nature and extent of significant risks, and the issuer’s ability to respond to changes in its business and the external environment; and

風險管理委員會

風險管理委員會由五名成員組成，即羅永志先生（主席）、 陳澤麟先生、劉安國先生、陸季農先生及陸彥彰先生。

風險管理委員會的主要職責包括以下方面：

• (i) 檢討本集團的風險管理系統，包括風險、資本及流 動資金管理框架，本集團的風險承受能力，風險政 策及標準和相關風險限制，包括所用參數、所採納 的方法及用於識別及評估風險的程序；

• (ii) 批准風險政策及標準，向董事會提交任何重大新政 策╱標準或現有政策╱標準╱限制的重大變動，以 供審批；

• (iii) 與管理層討論風險管理系統，確保管理層已履行職 責以建立有效的系統。討論內容應包括公司在風險 管理職能方面的資源、員工資歷及經驗是否足夠， 以及員工所接受的培訓課程及有關預算是否充足；

• (iv) 根據本集團風險計量方法及管理層行動檢討本集團 的重大風險狀況，包括市場、信貸、保險、營運、 流動資金及經濟及監管資本風險，以監督及控制該 等風險；

• (v) 每年檢討自上次年度檢討起重大風險性質及程度的 變動，及發行人應對其業務及外部環境變動的能 力；及

• (vi) to review annually the effectiveness of the issuer’s processes for financial reporting and compliance of the Listing Rules.

• (vi) 每年檢討發行人進行財務申報及遵守上市規則的程 序效用。

高萌科技集團有限公司 • 二零一九/ 二零年年報 47

Corporate Governance Report 企業管治報告

The written terms of reference of the Risk Management Committee are available on the websites of the Stock Exchange and the Company.

風險管理委員會的書面職權範圍於聯交所及本公司網站可 供查閱。

The Risk Management Committee had one meeting during the Reporting Period to discuss and review risk management policy, internal control manual, internal audit plan, internal audit report, risk management and internal control systems.

於報告期間，風險管理委員會舉行一次會議，討論及審閱 風險管理政策、內部監控手冊、內部審核計劃、內部審核 報告、風險管理及內部監控制度。

ATTENDANCE OF DIRECTORS AT VARIOUS BOARD COMMITTEE MEETINGS

董事出席各董事委員會會議的情況

			Number of meetings	attended/held
			出席╱舉行會議次數
		Audit	Nomination	Remuneration	Risk
		Committee	Committee	Committee	Management
Directors		Meeting	Meeting	Meeting	Committee Meeting
董事		審核委員會會議	提名委員會會議	薪酬委員會會議	風險管理委員會會議
Executive Directors	執行董事
Mr. LUK Kam Ming	陸鑑明先生	–	1/1	2/2	–
Mr. CHAN Chak Lun Philip	陳澤麟先生	–	–	–	1/1
Mr. LUK Kwai Lung	陸季農先生	–	–	–	1/1
Mr. LUK Yin Cheung	陸彥彰先生	–	–	–	1/1
Independent Non-Executive Directors	獨立非執行董事
Mr. LAU On Kwok	劉安國先生	5/5	–	2/2	1/1
Mr. LAW Wing Chi Stephen	羅永志先生	5/5	1/1	–	1/1
Dr. TSE Chi Kong	謝智剛博士	5/5	1/1	2/2	–

DIRECTORS’ RESPONSIBILITIES FOR FINANCIAL REPORTING IN RESPECT OF FINANCIAL STATEMENTS

董事就財務報表的財務申報責任

The Directors acknowledge their responsibility for preparing the financial statements for the year ended 31 March 2020 which give a true and fair view of the affairs of the Group and of the Group’s results and cash flows.

董事確認彼等編製截至二零二零年三月三十一日止年度的 財務報表的責任，該報表真實公平地反映本集團的事務以 及本集團業績及現金流量。

The management has provided to the Board such explanation and information as are necessary to enable the Board to carry out an informed assessment of the Company’s financial statements, which are put to the Board for approval. The Company provides all members of the Board with monthly updates on Group’s performance, positions and prospects.

管理層已向董事會提供必要的解釋及資料，以使董事會對 獲提呈待審批的本公司財務報表作出知情評估。本公司向 董事會全體成員提供有關本集團表現、狀況及前景的月度 更新資料。

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

董事會並不知悉任何有關可能對本集團按持續基準繼續經 營的能力構成重大質疑的事件或情況的任何重大不明朗因 素。

The statement by the Auditor regarding their reporting responsibilities on the consolidated financial statements of the Company is set out in the independent auditor’s report on pages 53 to 57 of this annual report.

核數師就其對本公司綜合財務報表的申報責任的聲明載於 本年報第53至57頁獨立核數師報告內。

48 KML Technology Group Limited • Annual Report 2019/20

Corporate Governance Report 企業管治報告

RISK MANAGEMENT AND INTERNAL CONTROL

The Board acknowledges that it is its responsibility to ensure that the Company establishes and maintains sound risk management and internal control systems within the Group and to review the effectiveness of the systems. Such systems are designed to manage and mitigate risks inherent in the Group’s business faced by the Group to an acceptable level, but not eliminating the risk of failure to achieve business objectives, and can only provide reasonable assurance against material misstatement, loss or fraud.

The Board has entrusted the Risk Management Committee with the responsibility to oversee the risk management and internal control systems of the Group on an on-going basis and to review the effectiveness of the systems annually. The annual review covered all material controls, including financial, operational and compliance controls.

Under the Company’s risk management and internal control structure, the management is responsible for the design, implementation and maintenance of risk management and internal control systems to ensure, amongst others, (i) appropriate policies and control procedures have been designed and established to safeguard the Group’s assets against improper use or disposal; (ii) relevant laws, rules and regulations are adhered to and complied with; and (iii) that reliable financial and accounting records are maintained in accordance with relevant accounting standards and regulatory reporting requirements.

The main features of risk management an internal control structure of the Company is as follows:

• (i) Heads of each operation unit or department manage major risks affecting the Group’s businesses and operations through the processes of risk identification, risk assessment and implementation of risk mitigation measures in accordance with the internal guidelines approved by the Board and the Risk Management Committee;

• (ii) The management ensures appropriate actions are taken on major risks affecting the Group’s businesses and operations; and

• (iii) Internal audit auditors provide independent assurance to the Board, the Risk Management Committee and the management concerning the effectiveness of risk management and internal control systems.

During the year ended 31 March 2020, major works performed by the management in relation to risk management and internal control include the following:

• (i) Reviewed the progress of the implementation of the mitigation plan for the major risks identified for the year ended 31 March 2019;

• (ii) Identified new risks at corporate level for year ended 31 March 2020; and incorporated them into risk register for risk assessment;

風險管理及內部監控

董事會確認其須負責確保本公司設立及維持本集團內穩健 的風險管理及內部監控系統，並檢討該等系統的成效。該 等系統旨在管理本集團所面臨其業務中的固有風險，並 將其緩解至可接受水平，而非消除未能達致業務目標的風 險，且僅可就重大錯誤陳述、損失或欺詐提供合理保證。

董事會已將持續監察本集團風險管理及內部監控系統以及 每年檢討該等系統成效的責任交託予風險管理委員會執 行。年度檢討涵蓋所有重大監控，包括財務、營運及合規 監控等。

根據本公司的風險管理及內部監控架構，管理層負責設 計、執行及維持風險管理及內部監控系統，以確保（其中包 括）(i)已設計及確立適當的政策及監控程序，以保障本集團 資產不會遭不當使用或處置；(ii)依循及遵守相關法例、規 則及規例；及(iii)根據相關會計準則及監管申報規定保持可 靠的財務及會計記錄。

本公司風險管理及內部監控架構的主要特點如下：

• (i) 各營運組別或部門的主管根據董事會及風險管理委 員會批准的內部指引，透過風險識別、風險評估及 實施風險緩釋措施的過程去管理本集團業務及營運 的主要風險；

• (ii) 管理層確保已就影響本集團業務及營運的重大風險 採取合適的行動；及

• (iii) 內部審核核數師就風險管理及內部監控系統的成效 向董事會、風險管理委員會及管理層提供獨立保 證。

• 於截至二零二零年三月三十一日止年度，管理層就風險管 理及內部監控進行的主要工作包括以下各項：

• (i) 審閱有關截至二零一九年三月三十一日止年度識別 的主要風險的緩衝計劃的實施進展；

• (ii) 識別截至二零二零年三月三十一日止年度的公司層 面的新風險；並將其納入風險登記冊作風險評估；

高萌科技集團有限公司 • 二零一九/ 二零年年報 49

Corporate Governance Report 企業管治報告

• (iii) Conducted an annual review on effectiveness of the risk management and internal control systems of the Group, covering all material controls including financial, operational and compliance controls; and

• (iv) Reported the results of the risk assessment and internal audit to the Risk Management Committee and the Board.

Based on the findings of the internal audit and the comments of the Risk Management Committee, the Board considered that the risk management and internal control systems are effective and adequate.

INSIDE INFORMATION DISCLOSURE POLICY

The Company has established a policy on the handling and dissemination of inside information (“ Inside Information ”). The inside information policy concerns the handling and the dissemination of the Inside Information as follows:

• (i) subject to the availability of a safe harbor exception, Inside Information must be disclosed to public as soon as reasonably practicable;

• (ii) executive Directors and senior management should identify events and/or developments which may constitute Inside Information and report to the Board to consider whether they may constitute Inside Information requiring disclosure;

• (iii) until an announcement in relation to the Inside Information is made, the Company shall ensure the Inside Information is kept strictly confidential; and

• (iv) If the Company believes that the necessary degree of confidentiality cannot be maintained or that confidentiality may have been breached, an announcement shall be made as soon as reasonably practicable.

Inside Information will be announced on the websites of the Stock Exchange and the Company.

DIVIDEND POLICY

The Company has adopted a dividend policy facilitating the Shareholders and investors to make informed investment decisions relating to the Company during the Reporting Period. In considering whether to propose a dividend and in determining the dividend amount, the Board shall consider the following factors before declaring or recommending dividends:

• (i) the Company’s actual and expected financial performance;

• (ii) retained earnings and distributable reserves of the Company and each of the members of the Group;

• (iii) the Groups’ working capital requirements, capital expenditure requirements and future expansion plans;

• (iv) the Group’s liquidity position;

• (v) business conditions and strategies;

• (iii) 對本集團風險管理及內部監控制度有效性進行年度 檢討，涵蓋所有重大監控，包括財務、經營及合規 監控；及

• (iv) 向風險管理委員會及董事會報告風險評估及內部審 核的結果。

根據內部審核的發現及風險管理委員會的評論，董事會認 為，風險管理及內部監控制度屬有效及充足。

內幕消息披露政策

本公司已制定有關處理及發佈內幕消息（「 內幕消息 」）的政 策。與處理及發佈內幕消息有關的內幕消息政策載列如 下：

• (i) 在出現安全港例外情況下，須於合理實際可行情況 下盡快向公眾披露內幕消息；

• (ii) 執行董事及高級管理層須識別可能構成內幕消息且 須向董事會報告的事件及╱或發展情況，以考慮彼 等是否可能構成須作出披露的內部消息；

• (iii) 於作出有關內幕消息的公告前，本公司須確保內幕 消息絕對保密；及

• (iv) 倘本公司相信，無法保持所需的保密性，或內幕消 息可能已外泄，則須於合理實際可行情況下盡快作 出公告。

內幕消息會於聯交所及本公司網站內公佈。

股息政策

本公司已經採納一項股息政策，促進股東及投資者於報告 期間就本公司作出知情投資決定。於考慮是否擬派股息及 釐定股息金額時，董事會應於宣派或建議派付股息前考慮 如下因素：

• (i) 本公司實際及預期財務表現；

• (ii) 本公司及本集團各成員公司的保留盈利及可供分派 儲備；

• (iii) 本集團營運資金需求、資本開支需求及未來擴張計 劃；

• (iv) 本集團流動資金狀況；

• (v) 業務狀況及策略；

50 KML Technology Group Limited • Annual Report 2019/20

Corporate Governance Report 企業管治報告

• (vi) future operations and earnings;

(vi) 未來經營及盈利；

(vii) reasonable return in investment to the shareholders and investors; and

• (vii) 股東及投資者投資的合理回報；及

(viii) other factors that the Board may consider relevant.

(viii) 董事會可能認為屬相關的其他因素。

Declaration and payment of dividend by the Company shall also subject to any restrictions under the Cayman Islands laws, any applicable laws, rules and regulations, any restrictions that may be imposed by the Group’s lenders, if any and the Articles of Associations.

AUDITOR’S REMUNERATION

本公司宣派及支付股息亦需遵守開曼群島法律、任何適用 法律、規則及規例的任何限制，本集團貸方可能施加的任 何限制（如有）及組織章程細則。

核數師薪酬

The remuneration for the audit and non-audit services provided by the Auditor to the Group during the Reporting Period was approximately as follows:

於報告期間，核數師向本集團提供的審核及非審核服務的 薪酬概述如下：

Type	of Services	Amount(HK$’000)
服務類型		金額（千港元）
Audit	services 審核服務	1,650
Non-audit services (note) 非審核服務（附註）		95
Note:	For the year ended 31 March 2020, the Group has engaged the Auditor and their	附註： 截至二零二零年三月三十一日止年度，本集團已委聘核數師
	affiliate companies to provide non-audit services which include (i) tax service; (ii)	及其聯屬公司提供非核數服務，包括(i)稅項服務（ii）商定程序委
	agreed-upon procedure engagements; and (iii) other assurance engagement for	聘；及（iii）退休計劃的其他保證委聘。

Note: For the year ended 31 March 2020, the Group has engaged the Auditor and their affiliate companies to provide non-audit services which include (i) tax service; (ii) agreed-upon procedure engagements; and (iii) other assurance engagement for retirement scheme.

COMPANY SECRETARY

公司秘書

Ms. Woo, the company secretary of the Company, is responsible for advising the Board on corporate governance matters and ensuring that the Board policies and procedures, as well as the applicable laws, rules and regulations are followed.

本公司的公司秘書胡女士負責就企業管治事宜向董事會提 供意見，並確保遵守董事會政策及程序以及適用法例、規 則及規例。

During the Reporting Period, Ms. Woo have undertaken not less than 15 hours of relevant professional training respectively in compliance with rule 5.15 of the GEM Listing Rules.

COMMUNICATION WITH SHAREHOLDERS AND INVESTOR RELATIONS

於報告期間，胡女士已根據GEM上市規則第5.15條參與不 少於15小時的相關專業培訓。

與股東的溝通及投資者關係

The Company considers that effective communication with Shareholders is essential for enhancing investor relations and understanding of the Group’s business, performance and strategies. The Company also recognises the importance of timely and non-selective disclosure of information, which will enable Shareholders and investors to make the informed investment decisions.

本公司認為與股東有效溝通對加強投資者關係以及讓投資 者更了解本集團的業務、表現及戰略甚為重要。本公司亦 認同及時及不經篩選地披露資料的重要性，此有助股東及 投資者作出知情投資決定。

The general meetings of the Company provide opportunity for the Shareholders to communicate directly with the Directors. The chairman of the Company and the chairmen of the Board Committees will attend the annual general meetings s to answer Shareholders’ questions. The Auditor will also attend the annual general meetings to answer questions about the conduct of the audit, the preparation and content of the auditor’s report, the accounting policies and auditor independence.

本公司的股東大會向股東提供與董事直接溝通的機會。本 公司主席及各董事委員會主席將出席股東週年大會，回答 股東的提問。核數師亦將出席股東週年大會，回答有關審 核工作、編製核數師報告及其內容、會計政策以及核數師 的獨立性等問題。

高萌科技集團有限公司 • 二零一九/ 二零年年報

51

Corporate Governance Report 企業管治報告

To promote effective communication, the Company adopts a shareholders’ communication policy which aims at establishing a twoway relationship and communication between the Company and the Shareholders and maintains a website of the Company at www.kml.com. hk, where up-to-date information on the Company’s business operations and developments, financial information, corporate governance practices and other information are available for public access.

SHAREHOLDERS’ RIGHTS

To safeguard Shareholders’ interests and rights, a separate resolution will be proposed for each issue at general meetings, including the election of individual Directors.

All resolutions put forward at general meetings will be voted by poll pursuant to the GEM Listing Rules and poll results will be posted on the websites of the Company and the Stock Exchange in a timely manner after each general meeting.

Convening of extraordinary general meeting and putting forward proposals

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

As regards proposing a person for election as a Director, the procedures are available on the website of the Company.

Enquiries to the Board

Shareholders who intend to put forward their enquiries about the Company to the Board could send their enquiries to the headquarters of the Company at B12, G/F, Shatin Industrial Centre, Siu Lek Yuen Road, Shatin, New Territories, Hong Kong.

CHANGE IN CONSTITUTIONAL DOCUMENTS

The Company has adopted an Amended and Restated Memorandum and Articles of Association, which has become effective on the Listing Date. There was no change in the Amended and Restated Memorandum and Articles of Association during the year ended 31 March 2020.

ENVIRONMENTAL, SOCIAL AND GOVERANCE REPORT

During the Reporting Period, the Group prepared and began to formulate the environmental, social and governance report of the Company in accordance with the Environmental, Social and Governance Reporting Guide issued by the Stock Exchange. Such report is proposed to be published in or before August 2020.

為促進有效的溝通，本公司採納股東通訊政策，旨在建立 本公司與其股東之間的雙向關係及溝通，並設有公司網站 (www.kml.com.hk)，以刊登有關本公司業務營運及發展的 最新資料、財務資料、企業管治常規及其他資料，以供公 眾人士獲取。

股東權益

為保障股東利益及權利，本公司將於股東大會上就各項事 宜（包括個別董事的選舉）提呈獨立決議案。

於股東大會上提呈的所有決議案將根據GEM上市規則以投 票方式表決，投票結果將於各股東大會舉行後及時於本公 司及聯交所網站刊登。

召開股東特別大會及提呈建議

股東可根據組織章程細則向本公司股東大會提呈建議以供 考慮。於遞交要求當日持有不少於本公司十分之一附有權 利可於本公司股東大會上投票的繳足股本的任何一名或以 上股東應一直有權透過向董事會或本公司的公司秘書遞交 書面要求後，要求董事會召開本公司股東特別大會，以處 理有關要求所列明的任何事項。有關大會須於遞交有關要 求後兩個月內舉行。倘於遞交有關要求後21天內董事會 未能著手召開有關大會，則要求人士本身可按相同方式自 行召開有關大會，而有關要求人士因董事會未能召開大會 而產生的所有合理費用應由本公司向有關要求人士進行償 付。

關於建議一名人士參選董事的事宜，可於本公司網站查閱 有關程序。

向董事會提出查詢

股東如欲向董事會提出有關本公司的查詢，可將有關查詢 寄至本公司總部（地址為香港新界沙田小瀝源路沙田工業中 心地下B12室）。

更改組織章程文件

本公司已採納經修訂及經重列的組織章程大綱及細則，並 於上市日期生效。截至二零二零年三月三十一日止年度， 經修訂及經重列的組織章程大綱及細則未有任何變化。

環境、社會及管治報告

本報告期間，本集團按聯交所發出的《環境、社會及管治 報告指引》準備並著手編製本公司的環境、社會及管治報 告。該報告擬於二零二零年八月或之前刊發。

52 KML Technology Group Limited • Annual Report 2019/20

Independent Auditor’s Report 獨立核數師報告

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To the shareholders of KML Technology Group Limited

(Incorporated in the Cayman Islands with limited liability)

OPINION

We have audited the consolidated financial statements of KML Technology Group Limited (the “ Company ”) and its subsidiaries (collectively referred to as the “ Group ”) set out on pages 58 to 127, which comprise the consolidated statement of financial position as at 31 March 2020, and the consolidated statement of profit or loss and other comprehensive income, consolidated statement of changes in equity and consolidated statement of cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.

In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 March 2020, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards (“ HKFRSs ”) issued by the Hong Kong Institute of Certified Public Accountants (“ HKICPA ”) and have been properly prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance.

BASIS FOR OPINION

We conducted our audit in accordance with Hong Kong Standards on Auditing (“ HKSAs ”) issued by the HKICPA. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report. We are independent of the Group in accordance with the HKICPA’s Code of Ethics for Professional Accountants (the “ Code ”), and we have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

KEY AUDIT MATTERS

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. For each matter below, our description of how our audit addressed the matter is provided in that context.

We have fulfilled the responsibilities described in the Auditor’s responsibilities for the audit of the consolidated financial statements section of our report, including in relation to these matters. Accordingly, our audit included the performance of procedures designed to respond to our assessment of the risks of material misstatement of the consolidated financial statements. The results of our audit procedures, including the procedures performed to address the matters below, provide the basis for our audit opinion on the accompanying consolidated financial statements.

致高萌科技集團有限公司股東

（於開曼群島註冊成立的有限公司）

意見

本核數師（以下簡稱「 我們 」）已審核列載於第58至127頁的 高萌科技集團有限公司（「 貴公司 」）及其附屬公司（以下統稱 「 貴集團 」）的綜合財務報表，此綜合財務報表包括於二零 二零年三月三十一日的綜合財務狀況表與截至該日止年度 的綜合損益及其他全面收益表、綜合權益變動表及綜合現 金流量表，以及綜合財務報表附註，包括主要會計政策概 要。

我們認為，該等綜合財務報表已根據香港會計師公會（「 香 港會計師公會 」）頒佈的《香港財務報告準則》（「 香港財務報 告準則 」）真實而中肯地反映了 貴集團於二零二零年三月 三十一日的綜合財務狀況及截至該日止年度的綜合財務表 現及其綜合現金流量，並已遵照香港《公司條例》的披露規 定妥為擬備。

意見的基礎

我們已根據香港會計師公會頒佈的《香港審計準則》（「 香港 審計準則 」）進行審計。我們在該等準則下承擔的責任已在本 報告「核數師就審計綜合財務報表承擔的責任」部分中作進 一步闡述。根據香港會計師公會頒佈的《專業會計師道德守 則》（以下簡稱「 守則 」），我們獨立於 貴集團，並已履行守 則中的其他專業道德責任。我們相信，我們所獲得的審計 憑證能充足及適當地為我們的審計意見提供基礎。

關鍵審計事項

關鍵審計事項是根據我們的專業判斷，認為對本期綜合財 務報表的審計最為重要的事項。這些事項是在我們審計整 體綜合財務報表及出具意見時進行處理的。我們不會對這 些事項提供單獨的意見。我們對下述每一事項在審計中是 如何應對的描述也以此為背景。

我們已經履行本報告「核數師就審計綜合財務報表須承擔的 責任」部份闡述的責任，包括與這些關鍵審計事項相關的責 任。相應地，我們的審計工作包括執行為應對評估的綜合 財務報表重大錯誤陳述風險而設計之審計程序。我們執行 審計程序之結果，包括應對下述關鍵審計事項所執行的程 序，為綜合財務報表發表審計意見提供基礎。

53

高萌科技集團有限公司 • 二零一九/ 二零年年報

Independent Auditor’s Report 獨立核數師報告

To the shareholders of KML Technology Group Limited

(Incorporated in the Cayman Islands with limited liability)

KEY AUDIT MATTERS (continued)

致高萌科技集團有限公司股東

（於開曼群島註冊成立的有限公司）

關鍵審計事項 （續）

Key audit matter 關鍵審計事項

How our audit addressed the key audit matter 於審計中我們處理關鍵審計事項的方式

Contract revenue and contract costs from engineering solutions and services 來自工程解決方案及服務的合約收益及合約成本

For the year ended 31 March 2020, the Group's revenue and costs recognised for electrical and mechanical (“ E&M ”) engineering solutions and services contracts amounted to HK$184,501,000 and HK$126,578,000, respectively.

Our procedures included:

• Obtaining the understanding from management on the budget costs and how the budget costs are evaluated;

Revenue from E&M engineering solutions and services is recognised over time and the input method is adopted to measure progress towards complete satisfaction of services. The input method recognises revenue based on the proportion of actual costs incurred relative to budget contract costs for satisfaction of the E&M engineering solutions and services.

The budget contract costs are prepared based on management’s estimate, such as estimation of direct labour costs to be incurred and quotations provided by the major contractors, suppliers or vendors involved.

Significant management judgement is involved in determining the budget contract costs recognised for contract works.

• Obtaining the breakdown of budgeted contract costs and, on a sample basis, evaluated management’s estimation of the budget contract costs;

• Checking the basis of the budgeted revenue to the underlying contracts and variation orders on a sample basis;

• Recalculating the revenue recognised with reference to the contract costs incurred for the work performed to date relative to the total budget contract costs; and

• Checking the contract costs incurred to the amount of costs recorded in the direct labour costs, subcontractor payment certificates and supplier invoices, on a sample basis.

Related disclosures are included in notes 3, 4 and 5 to the consolidated financial statements.

截至二零二零年三月三十一日止年度， 貴集團就機電 （「 機電 」）工程解決方案及服務合約確認的收益及成本分別 約為184,501,000港元及126,578,000港元。

我們的程序包括：

• 獲得管理層對預算成本的了解以及其如何評估預算成本；

機電工程解決方案及服務的收益於一段時間內確認，並採 納輸入法計量完成服務的進度。輸入法根據所產生的實際 成本相對於完成機電工程解決方案及服務的預算合約成本 的比例確認收益。

• 獲得預算合約成本的明細，並透過抽樣檢查評估管理層對預 算合約成本的估計；

• 透過抽樣檢查相關合約的預算收益基準及變更訂單；

預算合約成本乃根據對管理層的估計，如將產生的直接勞 工成本估計及所涉及的主要承建商、供應商或賣方提供報 價而編製。

釐定合約工程確認的預算合約成本涉及管理層的重大判 斷。

• 經參考迄今所開展與預算合約成本總額有關的工程所產生的 合約成本，重新計算已確認收益；及

• 抽樣檢查於直接勞工成本、分包商付款證明及供應商發票中 記錄的成本金額中產生的合約成本。

相關披露載於綜合財務報表附註3、附註4及附註5。

54 KML Technology Group Limited • Annual Report 2019/20

Independent Auditor’s Report 獨立核數師報告

To the shareholders of KML Technology Group Limited

(Incorporated in the Cayman Islands with limited liability)

OTHER INFORMATION INCLUDED IN THE ANNUAL REPORT

The directors of the Company are responsible for the other information. The other information comprises the information included in the Annual Report, other than the consolidated financial statements and our auditor’s report thereon.

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

In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

RESPONSIBILITIES OF THE DIRECTORS FOR THE CONSOLIDATED FINANCIAL STATEMENTS

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

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

The directors of the Company are assisted by the Audit Committee in discharging their responsibilities for overseeing the Group’s financial reporting process.

致高萌科技集團有限公司股東

（於開曼群島註冊成立的有限公司）

刊載於年度報告的其他信息

貴公司董事須對其他信息負責。其他信息包括刊載於年度 報告內的信息，但不包括綜合財務報表及我們的核數師報 告。

我們對綜合財務報表作出的意見並不涵蓋其他信息，我們 亦不對該等信息發表任何形式的鑒證結論。

結合我們對綜合財務報表的審計，我們的責任是閱讀其他 信息，在此過程中，考慮其他信息是否與綜合財務報表或 我們於審計過程中所了解的情況存在重大抵觸或者似乎存 在重大錯誤陳述的情況。基於我們已執行的工作，如果我 們認為此其他信息存在重大錯誤陳述，我們需要報告該事 實。在這方面，我們沒有任何報告。

董事就綜合財務報表須承擔的責任

貴公司董事須根據香港會計師公會頒佈的《香港財務報告 準則》及香港《公司條例》披露規定，擬備真實而中肯的綜 合財務報表，並對其認為為使綜合財務報表的擬備不存在 由於欺詐或錯誤而導致的重大錯誤陳述所需的內部控制負 責。

於擬備綜合財務報表時， 貴公司董事負責評估 貴集團 持續經營的能力，並在適用情況下披露與持續經營有關的 事項，以及使用持續經營會計基礎，除非 貴公司董事有 意將 貴集團清盤或停止經營，或別無其他實際的替代方 案。

審核委員會協助 貴公司董事履行職責，以監督 貴集團 財務報告過程。

高萌科技集團有限公司 • 二零一九/ 二零年年報

55

Independent Auditor’s Report 獨立核數師報告

To the shareholders of KML Technology Group Limited

(Incorporated in the Cayman Islands with limited liability)

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

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Our report is made solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

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

• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

• Conclude on the appropriateness of the directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.

致高萌科技集團有限公司股東

（於開曼群島註冊成立的有限公司）

核數師對審計綜合財務報表的責任

我們的目標，是對綜合財務報表整體是否不存在由於欺詐 或錯誤而導致的重大錯誤陳述取得合理保證，並出具包括 我們意見的核數師報告。我們的報告僅向 閣下（作為整 體）發出，除此以外，我們的報告不可用作其他用途。我 們不會就本報告的內容向任何其他人士負上或承擔任何責 任。

合理保證是高水平的保證，但不能保證按照《香港審計準 則》進行的審計，在某一重大錯誤陳述存在時總能發現。 錯誤陳述可由欺詐或錯誤引起，如果合理預期它們單獨或 匯總起來可能影響綜合財務報表使用者依賴綜合財務報表 所作出的經濟決定，則有關的錯誤陳述可被視作重大。

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

• 識別和評估由於欺詐或錯誤而導致綜合財務報表存 在重大錯誤陳述的風險，設計及執行審計程序以應 對這些風險，以及獲取充足和適當的審計憑證，作 為我們意見的基礎。由於欺詐可能涉及串謀、偽 造、蓄意遺漏、虛假陳述，或凌駕於內部控制之 上，因此未能發現因欺詐而導致的重大錯誤陳述的 風險高於未能發現因錯誤而導致的重大錯誤陳述的 風險。

• 了解與審計相關的內部控制，以設計適當的審計程 序，但目的並非對 貴集團內部控制的有效性發表 意見。

• 評價董事所採用會計政策的恰當性以及作出會計估 計和相關披露的合理性。

• 對董事採用持續經營會計基礎的恰當性作出結論。 根據所獲取的審計憑證，確定是否存在與事項或情 況有關的重大不確定性，從而可能導致對 貴集團 的持續經營能力產生重大疑慮。如果我們認為存在 重大不確定性，則有必要在核數師報告中提請使用 者注意綜合財務報表中的相關披露。假若有關的 披露不足，則我們應當發表非無保留意見。我們的 結論是基於核數師報告日止所取得的審計憑證。然 而，未來事項或情況可能導致 貴集團不能持續經 營。

56 KML Technology Group Limited • Annual Report 2019/20

Independent Auditor’s Report 獨立核數師報告

To the shareholders of KML Technology Group Limited

(Incorporated in the Cayman Islands with limited liability)

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS (continued)

• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.

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

We also provide the Audit Committee with a statement that we have complied with relevant ethical requirements regarding independence and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

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

The engagement partner on the audit resulting in this independent auditor’s report is CHIU, Caroline Su Yuen.

Ernst & Young

Certified Public Accountants 22/F, CITIC Tower 1 Tim Mei Avenue Central, Hong Kong 18 June 2020

致高萌科技集團有限公司股東

（於開曼群島註冊成立的有限公司）

核數師對審計綜合財務報表的責任 （續）

• 評價綜合財務報表的整體列報方式、結構和內容， 包括披露，以及綜合財務報表是否中肯反映相關交 易和事項。

• 就 貴集團內實體或業務活動的財務信息獲取充 足、適當的審計憑證，以便對綜合財務報表發表意 見。我們負責 貴集團審計的方向、監督和執行。 我們為審計意見承擔全部責任。

我們與審核委員會溝通了計劃的審計範圍、時間安排、重 大審計發現等，包括我們在審計中識別出內部控制的任何 重大缺陷。

我們還向審核委員會提交聲明，說明我們已符合有關獨立 性的相關專業道德要求，並與他們溝通有可能合理地被認 為會影響我們獨立性的所有關係和其他事項，以及在適用 的情況下，相關的防範措施。

從與審核委員會溝通的事項中，我們確定哪些事項對本期 綜合財務報表的審計最為重要，因而構成關鍵審計事項。 我們在核數師報告中描述這些事項，除非法律法規不允許 公開披露這些事項，或在極端罕見的情況下，如果合理預 期在我們報告中溝通某事項造成的負面後果超過產生的公 眾利益，我們決定不應在報告中溝通該事項。

出具本獨立核數師報告的審計專案合夥人是趙素顯。

安永會計師事務所

執業會計師 香港中環 添美道1號 中信大廈22樓 二零二零年六月十八日

高萌科技集團有限公司 • 二零一九/ 二零年年報

57

Consolidated Statement of Profit or Loss and Other Comprehensive Income 綜合損益及其他全面收益表

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

Notes 附註 REVENUE 收益 5 Cost of sales 銷售成本 Gross profit 毛利 Other income 其他收入 6 Other gain and loss, net 其他收益及虧損淨額 6 Impairment losses on financial assets and contract assets, net of reversal 金融資產及合約資產減值虧損， 扣除撥回 30 Administrative expenses 行政開支 Finance costs 融資成本 7 PROFIT BEFORE TAX 除稅前溢利 9 Income tax expense 所得稅開支 10 PROFIT FOR THE YEAR 年內溢利 PROFIT AND TOTAL COMPREHENSIVE INCOME FOR THE YEAR ATTRIBUTABLE TO OWNERS OF THE COMPANY 本公司擁有人應佔年內溢利及 全面收益總額 EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY 本公司普通股權益持有人應佔 每股盈利 12 Basic 基本 Diluted 攤薄	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	224,228 210,596 (152,897) (144,520)
	71,331 66,076 1,395 1,230 140 (133) (113) (148) (46,059) (43,551) (159) –
	26,535 23,474 (4,923) (4,219)
	21,612 19,255
	21,612 19,255
	HK5.41 cents HK4.81 cents 5.41港仙 4.81港仙
	HK5.41 cents HK4.81 cents 5.41港仙 4.81港仙

58 KML Technology Group Limited • Annual Report 2019/20

Consolidated Statement of Financial Position 綜合財務狀況表

At 31 March 2020 於二零二零年三月三十一日

Notes 附註 NON-CURRENT ASSETS 非流動資產 Property, plant and equipment 物業、廠房及設備 13 Right-of-use assets 使用權資產 14(a) Deposits 按金 17 Contract assets 合約資產 18 Financial assets at fair value through profit or loss 按公允值計入損益的金融資產 15 Total non-current assets 非流動資產總額 CURRENT ASSETS 流動資產 Inventories 存貨 Trade receivables 貿易應收款項 16 Other receivables, deposits and prepayments 其他應收款項、按金及預付款項 17 Contract assets 合約資產 18 Pledged bank deposits 有抵押銀行存款 20 Time deposits with original maturity over three months 原到期日超過三個月的定期存款 20 Bank balances and cash 銀行結餘及現金 20 Total current assets 流動資產總額 CURRENT LIABILITIES 流動負債 Trade and other payables 貿易及其他應付款項 21 Lease liabilities 租賃負債 14(b) Contract liabilities 合約負債 19 Tax payable 應付稅項 Total current liabilities 流動負債總額 NET CURRENT ASSETS 流動資產淨值 TOTAL ASSETS LESS CURRENT LIABILITIES 總資產減流動負債 NON-CURRENT LIABILITIES 非流動負債 Lease liabilities 租賃負債 14(b) Deferred tax liabilities 遞延稅項負債 22 Total non-current liabilities 非流動負債總額 Net assets 資產淨值 EQUITY 權益 Share capital 股本 23 Reserves 儲備 Total equity 總權益	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	5,973 2,924 8,687 – 1,145 1,875 – 6,785 5,181 –
	20,986 11,584
	346 463 45,665 41,146 9,252 5,453 63,125 42,548 14,045 10,782 6,347 40,050 76,652 36,989
	215,432 177,431
	29,269 25,910 5,611 – 31,462 17,145 448 1,617
	66,790 44,672
	148,642 132,759
	169,628 144,343
	3,090 – 352 208
	3,442 208
	166,186 144,135
	4,000 4,000 162,186 140,135
	166,186 144,135

Mr. Luk Kam Ming 陸鑑明先生 Director 董事

Mr. Chan Chak Lun Philip 陳澤麟先生 Director 董事

59

高萌科技集團有限公司 • 二零一九/ 二零年年報

Consolidated Statement of Changes in Equity 綜合權益變動表

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

At 1 April 2018 於二零一八年四月一日 Profit and total comprehensive income for the year 年內溢利及全面收益總額 Equity-settled share option arrangements (note 34) 權益結算購股權安排（附註34） At 31 March 2019 and 1 April 2019 於二零一九年三月三十一日及 二零一九年四月一日 Profit and total comprehensive income for the year 年內溢利及全面收益總額 Equity-settled share option arrangements (note 34) 權益結算購股權安排（附註34） Cancellation of share options (note 34) 註銷購股權（附註34） Purchases of shares and contribution in the share award scheme (note 35) 購買股份及股份獎勵計劃的供款 （附註35） At 31 March 2020 於二零二零年三月三十一日	Attributable to owners of the Company 本公司擁有人應佔 Share capital Share premium Shares held under the share award scheme Other reserves Share option reserve Accumulated profits Total equity 股本 股份溢價 股份獎勵 計劃項下 持有的股份 其他儲備 購股權儲備 累計溢利 總權益 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 (note 35) (note 24) (note 34) （附註35） （附註24） （附註34）
	4,000 47,552 – 14,339 – 57,823 123,714 – – – – – 19,255 19,255 – – – – 1,166 – 1,166
	4,000 47,552 – 14,339 *1,166 77,078 144,135 – – – – – 21,612 21,612 – – – – 845 – 845 – – – – (1,706) 1,706 – – – (858) 452 – – (406)**
	4,000 47,552 (858) 14,791 *305 100,396 166,186**

• These reserve accounts comprise the consolidated reserve of HK$162,186,000 (2019: HK$140,135,000) in the consolidated statement of financial position.

• 該等儲備賬目包括綜合財務狀況表內的綜合儲備162,186,000港 元（二零一九年：140,135,000港元）。

60 KML Technology Group Limited • Annual Report 2019/20

Consolidated Statement of Cash Flows 綜合現金流量表

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

Notes 附註 CASH FLOWS FROM OPERATING ACTIVITIES 經營活動所產生的現金流量 Profit before tax 除稅前溢利 Adjustments for: 就下列者調整： Bank interest income 銀行利息收入 6 Interest income from life insurance products 人壽保險產品的利息收入 6 Gain on disposal of property, plant and equipment 出售物業、廠房及設備收益 6 Fair value loss on financial assets at fair value through profit or loss 按公允值計入損益的 金融資產的公允值虧損 29 Depreciation of property, plant and equipment 物業、廠房及設備折舊 13 Depreciation of right-of-use assets 使用權資產折舊 14 Equity-settled share option expenses 權益結算購股權開支 34 Impairment losses on financial assets and contract assets, net of reversal 金融資產及合約資產減值虧損， 扣除撥回 30 Finance costs 融資成本 7 Decrease in inventories 存貨減少 (Increase)/decrease in trade receivables 貿易應收款項（增加）╱減少 (Increase)/decrease in other receivables, deposits and prepayments 其他應收款項、按金及預付款項 （增加）╱減少 Increase in contract assets 合約資產增加 Increase in trade and other payables 貿易及其他應付款項增加 Increase/(decrease) in contract liabilities 合約負債增加╱（減少） Cash generated from operations 營運所產生的現金 Interest paid for lease payments 已付租賃付款利息 Income tax paid 已付所得稅 Net cash flows from operating activities 經營活動所產生的現金流量淨額 CASH FLOWS FROM INVESTING ACTIVITIES 投資活動所產生的現金流量 Bank interest received 已收銀行利息 Purchase of property, plant and equipment 購買物業、廠房及設備 Deposits paid for purchase of property, plant and equipment 購買物業、廠房及設備已付按金 Proceeds from disposal of property, plant and equipment 出售物業、廠房及設備的所得款項 Addition of financial assets at fair value through profit or loss 添置按公允值計入損益的 金融資產 Withdrawn of time deposits with original maturity over three months 提取原到期日超過三個月的定期 存款 Placement of time deposits with original maturity over three months 存入原到期日超過三個月的定期 存款 Placement of pledged bank deposits 存入有抵押銀行存款 Net cash flows from/(used in) investing activities 投資活動所產生╱（所用）的現金 流量淨額	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	26,535 23,474 (938) (854) (173) – (185) (4) 1,207 – 1,618 1,195 5,596 – 845 1,166 113 148 159 –
	34,777 25,125 117 45 (4,719) 3,590 (4,063) 2,366 (13,705) (5,439) 3,384 4,291 14,317 (3,877)
	30,108 26,101 (124) – (5,948) (2,569)
	24,036 23,532
	938 854 (3,775) (821) – (994) 287 18 (6,240) – 109,541 4,761 (75,838) (24,804) (3,263) (5,782)
	21,650 (26,768)

61

高萌科技集團有限公司 • 二零一九/ 二零年年報

Consolidated Statement of Cash Flows

綜合現金流量表

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

Notes 附註 CASH FLOWS FROM FINANCING ACTIVITIES 融資活動所產生的現金流量 New bank loan 新增銀行貸款 Repayment of the bank loan 償還銀行貸款 Purchase of shares for share award scheme 就股份獎勵計劃購買股份 Principal portion of lease payments 租賃付款的本金部分 Interest paid 已付利息 Net cash flows used in financing activities 融資活動所用的現金流量淨額 NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 現金及現金等價物增加╱ （減少）淨額 Cash and cash equivalents at beginning of the year 年初現金及現金等價物 CASH AND CASH EQUIVALENTS AT END OF THE YEAR, represented by bank balances and cash 年末現金及現金等價物，按銀行結 餘及現金列示	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	2,600 – (2,600) – (406) – (5,582) – (35) –
	(6,023) –
	39,663 (3,236) 36,989 40,225
	76,652 36,989

62 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

1. CORPORATE AND GROUP INFORMATION

1. 公司及集團資料

KML Technology Group Limited (the “ Company ”) is a limited liability company incorporated in the Cayman Islands. The registered office address of the Company is Cricket Square, Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands. The principal place of business of the Company in Hong Kong is located at B12, G/F, Shatin Industrial Centre, Siu Lek Yuen Road, Shatin, New Territories, Hong Kong.

高萌科技集團有限公司（「 本公司 」）為一間於開曼群 島註冊成立的有限公司。本公司的註冊辦事處地 址為Cricket Square,Hutchins Drive, PO Box 2681, Grand Cayman KY1-1111, Cayman Islands。本公司 於香港的主要營業地址為香港新界沙田小瀝源路沙 田工業中心地下B12室。

The principal activity of the Company is investment holding and its subsidiaries (collectively referred to as the “ Group ”) are principally engaged in the provision of electrical and mechanical (“ E&M ”) engineering solutions and services.

本公司的主要業務為投資控股及其附屬公司（統稱為 「 本集團 」）主要從事提供機電（「 機電 」）工程解決方案 及服務。

Information about subsidiaries

Particulars of the Company’s subsidiaries as at 31 March 2020 are as follows:

有關附屬公司的資料

本公司於二零二零年三月三十一日之附屬公司詳情 如下：

	Place of	Issued	Percentage of equity	Percentage of equity
	incorporation/	ordinary/	attributable to the Company
	registration	registered	本公司應佔權益百分比
Name	and business	share capital	Direct	Indirect	Principal activities
	註冊成立╱登記及	已發行普通股╱
名稱	營業地點	註冊股本	直接	間接	主要業務
Directly held:
直接持有：
KML Group (BVI) Limited*	British Virgin Islands	US$1	100%	–	Investment holding
	(“BVI”)/Hong Kong
KML Group (BVI) Limited*	英屬處女群島（「英屬	1美元	100%	–	投資控股
	處女群島」）╱香港
Indirectly held:
間接持有：
KML Engineering Limited	Hong Kong	HK$10,000,000	–	100%	Provision of
(“KML Engineering”)					professional E&M
					system engineering
					services for railway
					and road transport
					infrastructure projects
					and sales of parts and
					components
高明科技工程有限公司	香港	10,000,000港元	–	100%	為鐵路及公路交通基建項目
（「高明科技工程」）					提供專業機電系統工程服務及
					銷售零件及部件
KML Technology Limited	Hong Kong	HK$3,020,000	–	100%	Provision of
					professional E&M
					system engineering
					services for railway
					and road transport
					infrastructure projects
高萌科技有限公司	香港	3,020,000港元	–	100%	為鐵路及公路交通基建項目
					提供專業機電系統工程服務

• Not audited by Ernst & Young, Hong Kong or another member firm of the Ernst & Young global network

• 不經由香港安永會計師事務所或其他安永國際成員公司 審核

63

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

2.1 BASIS OF PREPARATION

2.1 編製基準

These financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards (“ HKFRSs ”) (which include all Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards (“ HKASs ”) and Interpretations) issued by the Hong Kong Institute of Certified Public Accountants (the “ HKICPA ”), accounting principles generally accepted in Hong Kong and the disclosure requirements of the Hong Kong Companies Ordinance. They have been prepared under the historical cost convention, except for financial assets at fair value through profit or loss which have been measured at fair value. These financial statements are presented in Hong Kong dollars (“ HK$ ”) and all values are rounded to the nearest thousand except when otherwise indicated.

Basis of consolidation

The consolidated financial statements include the financial statements of the Company and its subsidiaries for the year ended 31 March 2020. A subsidiary is an entity (including a structured entity), directly or indirectly, controlled by the Company. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee (i.e., existing rights that give the Group the current ability to direct the relevant activities of the investee).

本財務報表乃根據香港會計師公會（「 香港會計師公 會 」）頒佈的香港財務報告準則（「 香港財務報告準則 」） （包括所有香港財務報告準則、香港會計準則（「 香港 會計準則 」）及詮釋）、香港公認會計原則及香港公司 條例的披露規定編製。除按公允值計入損益的金融 資產已按公允值計量外，本財務報表乃根據歷史成 本慣例編製。本財務報表乃以港元（「 港元 」）呈報， 除另有指明外，所有金額均調整至最接近的千元。

綜合基準

綜合財務報表包括本公司及其附屬公司截至二零二 零年三月三十一日止年度之財務報表。附屬公司為 本公司直接或間接控制的實體（包括結構實體）。本 集團因參與投資對象而可以或有權獲得不定回報， 且可透過對投資對象行使權力影響回報（即本集團運 用既有權利現時可以左右投資對象有關業務）時，則 屬擁有控制權。

When the Company has, directly or indirectly, less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:

• (a) the contractual arrangement with the other vote holders of the investee;

如本公司直接或間接擁有投資對象投票權或類似權 利不過半數，本集團評估是否對投資對象有權力 時，會考慮所有相關事實及情況，包括：

• (a) 投資對象其他投票權持有人的合約安排；

• (b) 其他合約安排產生的權利；及

• (b) rights arising from other contractual arrangements; and

• (c) 本集團的投票權及潛在投票權。

• (c) the Group’s voting rights and potential voting rights.

The financial statements of the subsidiaries are prepared for the same reporting period as the Company, using consistent accounting policies. The results of subsidiaries are consolidated from the date on which the Group obtains control, and continue to be consolidated until the date that such control ceases.

附屬公司使用與本公司一致的會計政策編製同一報 告期間的財務報表。附屬公司的業績自本集團取得 控制權之日起綜合入賬，並持續綜合入賬至有關控 制權終止當日為止。

Profit or loss and each component of other comprehensive income are attributed to the owners of the parent of the Company and to the non-controlling interests, even if this results in the noncontrolling interests having a deficit balance. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.

損益及其他全面收益的各組成部分會歸屬於本公司 母公司擁有人及非控股權益，儘管這會導致非控股 權益結餘錄得虧絀。有關本集團成員公司間交易的 所有集團內資產及負債、權益、收入、開支以及現 金流量於綜合入賬時悉數對銷。

64 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

2.1 BASIS OF PREPARATION (CONTINUED)

Basis of consolidation (continued)

The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control described above. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.

If the Group loses control over a subsidiary, it derecognises (i) the assets and liabilities of the subsidiary, (ii) the carrying amount of any non-controlling interest and (iii) the cumulative translation differences recorded in equity; and recognises (i) the fair value of the consideration received, (ii) the fair value of any investment retained and (iii) any resulting surplus or deficit in profit or loss. The Group’s share of components previously recognised in other comprehensive income is reclassified to profit or loss or accumulated profits, as appropriate, on the same basis as would be required if the Group has directly disposed of the related assets or liabilities.

2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES

The Group has adopted the following new and revised HKFRSs for the first time for the current year’s financial statements.

Amendments to HKFRS 9 Prepayment Features with Negative Compensation HKFRS 16 Leases Amendments to HKAS 19 Plan Amendment, Curtailment or Settlement Amendments to HKAS 28 Long-term Interests in Associates and Joint Ventures HK(IFRIC)-Int 23 Uncertainty over Income Tax Treatments Annual Improvements to Amendments to HKFRS 3, HKFRS 11, HKFRSs 2015-2017 Cycle HKAS 12 and HKAS 23 Amendment to HKFRS 16 Covid-19-Related Rent Concessions

Other than as explained below regarding the impact of HKFRS 16 Leases and Amendment to HKFRS 16 Covid-19-Related Rent Concessions, the new and revised standards are not relevant to the preparation of the Group’s financial statements. The nature and impact of the new and revised HKFRSs are described below:

2.1 編製基準（續）

綜合基準（續）

倘事實及情況顯示上述三項控制因素的一項或多項 出現變化，本集團會重新評估本身是否控制投資對 象。並無失去控制權的附屬公司擁有權權益變動以 權益交易入賬。

倘本集團失去附屬公司的控制權，則會終止確認： (i)該附屬公司的資產及負債、(ii)任何非控股權益的賬 面值及(iii)計入權益的累計匯兌差額；並確認(i)已收 取代價的公允值、(ii)任何保留投資的公允值及(iii)所 產生於損益確認的任何盈餘或虧絀。本集團應佔過 往於其他全面收益確認的組成部分按與本集團直接 出售相關資產或負債所需相同基準重新分類至損益 或累計溢利（如適用）。

2.2 會計政策的變動及披露

本集團已就本年度財務報表首次採納以下新訂及經 修訂香港財務報告準則。

香港財務報告準則第9號 具有負補償的提前還款特性 （修訂本） 香港財務報告準則第16號 租賃 香港會計準則第19號 計劃修訂、縮減或清償 （修訂本） 香港會計準則第28號 於聯營公司及合營公司的長期 （修訂本） 權益 香港（國際財務報告 所得稅處理的不確定性 詮釋委員會）－詮釋第23號 香港財務報告準則 對香港財務報告準則第3號、 二零一五年至 香港財務報告準則第11號、 二零一七年週期之 香港會計準則第12號及香港 年度改進 會計準則第23號的修訂 香港財務報告準則第16號 新型冠狀病毒相關租金寬免 （修訂本）

除下文所闡釋有關香港財務報告準則第16號租賃及 香港財務報告準則第16號（修訂本）新型冠狀病毒相 關租金寬免的影響外，新訂及經修訂準則與編製本 集團財務報表並無關聯。新訂及經修訂香港財務報 告準則的性質及影響於下文載述：

高萌科技集團有限公司 • 二零一九/ 二零年年報 65

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

2.2 CHANGES IN ACCOUNTING POLICIES AND DISCLOSURES (CONTINUED)

2.2 會計政策的變動及披露（續）

• (a) HKFRS 16 replaces HKAS 17 Leases , HK(IFRIC)-Int 4 Determining whether an Arrangement contains a Lease, HK(SIC)-Int 15 Operating Leases – Incentives and HK(SIC)Int 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. The standard sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model to recognise and measure right-of-use assets and lease liabilities, except for certain recognition exemptions. Lessor accounting under HKFRS 16 is substantially unchanged from HKAS 17. Lessors continue to classify leases as either operating or finance leases using similar principles as in HKAS 17.

(a) 香港財務報告準則第16號取代香港會計準 則第17號租賃、香港（國際財務報告詮釋委 員會）－詮釋第4號釐定安排是否包含租賃、 香港（準則詮釋委員會）－詮釋第15號經營租 賃－獎勵及香港（準則詮釋委員會）－詮釋第 27號評估涉及租賃法律形式交易的內容。該 準則載有確認、計量、呈列及披露租賃之原 則，並要求承租人在單一資產負債表模型中 將所有租賃入賬，以確認及計量使用權資產 及租賃負債（惟若干確認豁免情況除外）。香 港財務報告準則第16號大致沿用香港會計準 則第17號內出租人的會計處理方式。出租人 繼續使用與香港會計準則第17號類似的原則 將租賃分類為經營租賃或融資租賃。

The Group has adopted HKFRS 16 using the modified retrospective method with the date of initial application of 1 April 2019. Under this method, the standard has been applied retrospectively with no impact to the opening balance of accumulated profits at 1 April 2019, and the comparative information for 2018 was not restated and continued to be reported under HKAS 17 and related interpretations.

本集團採用經修訂追溯法採納香港財務報告 準則第16號，並於二零一九年四月一日首次 應用。根據該方法，本集團已追溯應用該準 則，對於二零一九年四月一日的累計溢利的 年初結餘並無影響，且並無重列二零一八年 的比較資料，而繼續根據香港會計準則第17 號及相關詮釋將其呈報。

New definition of a lease

Under HKFRS 16, a contract is, or contains, a lease if the contract conveys a right to control the use of an identified asset for a period of time in exchange for consideration. Control is conveyed where the customer has both the right to obtain substantially all of the economic benefits from use of the identified asset and the right to direct the use of the identified asset. The Group elected to use the transition practical expedient allowing the standard to be applied only to contracts that were previously identified as leases applying HKAS 17 and HK(IFRIC)-Int 4 at the date of initial application. Contracts that were not identified as leases under HKAS 17 and HK(IFRIC)-Int 4 were not reassessed. Therefore, the definition of a lease under HKFRS 16 has been applied only to contracts entered into or changed on or after 1 April 2019.

租賃的新定義

根據香港財務報告準則第16號，如果一份 合約在一段時間內為換取代價而讓渡一項可 識別資產使用的控制權，則該合約是一項租 賃或包含了一項租賃。如果客戶有權從可識 別資產的使用中獲取幾乎所有的經濟收益及 有權主導可識別資產的使用，則已讓渡控制 權。本集團選擇過渡時使用實際權宜方法， 允許初次應用日期只將準則應用於之前根據 香港會計準則第17號及香港（國際財務報告詮 釋委員會）－詮釋第4號識別為租賃的合約。 根據香港會計準則第17號及香港（國際財務報 告詮釋委員會）－詮釋第4號沒有識別為租賃 的合約並無重新評估。因此，香港財務報告 準則第16號的租賃定義只應用於二零一九年 四月一日或之後簽訂或修改的合約。

As a lessee – Leases previously classified as operating leases

Nature of the effect of adoption of HKFRS 16

The Group has lease contracts of properties. Under HKFRS 16, the Group applies a single approach to recognise and measure right-of-use assets and lease liabilities for all leases, except for exemptions for leases with a lease term of 12 months or less (“ short-term leases ”) (elected by class of underlying asset). Instead of recognising rental expenses under operating leases on a straight-line basis over the lease term commencing from 1 April 2019, the Group recognises depreciation (and impairment, if any) of the right-of-use assets and interest accrued on the outstanding lease liabilities (as finance costs).

作為承租人 – 先前分類為經營租賃的租賃

採納香港財務報告準則第16號的影響的性質 本集團擁有各類物業的租賃合約。根據香港 財務報告準則第16號，本集團對所有租賃採 納單一的方法確認及計量使用權資產及租賃 負債，惟租期為12個月或以內的租賃（「 短期 租賃 」）（按相關資產類別選擇）的豁免除外。 本集團並無按直線法於自二零一九年四月一 日開始的租期內確認經營租賃項下的租賃開 支，而是確認使用權資產的折舊（及減值，如 有）及就尚未償還租賃負債應計的利息（作為 融資成本）。

66 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

2.2 CHANGES IN ACCOUNTING POLICIES AND 2.2 會計政策的變動及披露（續） DISCLOSURES (CONTINUED)

• (a) (continued)

• (a) （續）

Impact on transition

Lease liabilities at 1 April 2019 were recognised based on the present value of the remaining lease payments, discounted using the incremental borrowing rate at 1 April 2019 and were separately disclosed in the consolidated statement of financial position.

過渡影響

於二零一九年四月一日的租賃負債是根據按 二零一九年四月一日的增量借貸利率貼現的 餘下租賃付款現值確認，於綜合財務狀況表 分開披露。

The right-of-use assets were measured at the amount of the lease liability, adjusted by the amount of any prepaid or accrued lease payments relating to the lease recognised in the statement of financial position immediately before 1 April 2019.

使用權資產按租賃負債金額計量，並就緊接 二零一九年四月一日前財務狀況表內已確認 租賃相關的任何預付或累計租賃付款金額作 出調整。

All these assets were assessed for any impairment based on HKAS 36 on that date. The Group elected to present the right-of-use assets separately in the statement of financial position.

所有該等資產均於該日按香港會計準則第36 號就任何減值進行評估。本集團選擇將使用 權資產於財務狀況表單獨呈列。

The Group has used the following elective practical expedients when applying HKFRS 16 at 1 April 2019:

於二零一九年四月一日應用香港財務報告準 則第16號時，本集團已使用以下可供選擇的 實際權宜方法：

• Using a single discount rate to a portfolio of leases with reasonably similar characteristics

• 對具有合理類似特徵的租賃組合採用單 一貼現率

• Applying the short-term lease exemptions to leases with a lease term that ends within 12 months from the date of initial application

• 應用短期租賃豁免於租期於首次應用日 期起計12個月內終止的租賃

• Using hindsight in determining the lease term where the contract contains options to extend or terminate the lease

• 倘合約包含延長或終止租賃的選項，則 事後釐定租期

The impact arising from the adoption of HKFRS 16 at 1 April 2019 was as follows:

於二零一九年四月一日採納香港財務報告準則第16 號產生的影響如下：

Assets 資產 Right-of-use assets 使用權資產 Total assets 總資產 Liabilities 負債 Lease liabilities 租賃負債 Total liabilities 總負債	Increase 增加 HK$’000 千港元
	5,728
	5,728
	5,728
	5,728

高萌科技集團有限公司 • 二零一九/ 二零年年報 67

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

2.2 CHANGES IN ACCOUNTING POLICIES AND 2.2 會計政策的變動及披露（續） DISCLOSURES (CONTINUED)

• (a) (continued)

• (a) （續）

The lease liabilities as at 1 April 2019 reconciled to the operating lease commitments as at 31 March 2019 are as follows:

於二零一九年四月一日的租賃負債與二零 一九年三月三十一日的經營租賃承擔對賬如 下：

Operating lease commitments as at 31 March 2019 於二零一九年三月三十一日的經營 租賃承擔 Weighted average incremental borrowing rate as at 1 April 2019 於二零一九年四月一日的加權平均增量 借貸利率 Discounted operating lease commitments as at 1 April 2019 於二零一九年四月一日的折現經營租賃承擔 Lease liabilities as at 1 April 2019 於二零一九年四月一日的租賃負債	HK$’000 千港元
	5,851 4.5%
	5,728
	5,728

• (b) Amendment to HKFRS 16 provides a practical expedient for lessees to elect not to apply lease modification accounting for rent concessions arising as a direct consequence of the covid-19 pandemic. The practical expedient applies only to rent concessions occurring as a direct consequence of the covid-19 pandemic and only if (i) the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease immediately preceding the change; (ii) any reduction in lease payments affects only payments originally due to or before 30 June 2021; and (iii) there is no substantive change to other terms and conditions of the lease. The amendment is effective retrospectively for annual periods beginning on or after 1 June 2020 with earlier application permitted. The Group has early adopted the amendment on 1 April 2019 and elected not to apply lease modification accounting for all rent concessions granted by the lessors as a result of the covid-19 pandemic during the year ended 31 March 2020. Accordingly, a reduction in lease payments arising from the rent concessions is accounted for as a variable lease payment.

• (b) 香港財務報告準則第16號（修訂本）為承租人 提供一個實際可行的權宜方法以選擇就新型 冠狀病毒疫情的直接後果產生的租金寬免不 應用租賃修改會計處理。該實際可行權宜方 法僅適用於新型冠狀病毒疫情直接後果產生 的租金寬免，且僅當(i)租賃付款的變動使租 賃代價有所修改，而經修改的代價與緊接變 動前租賃代價大致相同，或少於緊接變動前 租賃代價；(ii)租賃付款的任何減幅僅影響原 到期日為二零二一年六月三十日或之前的付 款；及(iii)租賃的其他條款及條件並無實質變 動。該修訂本於二零二零年六月一日或之後 開始的年度期間追溯有效，允許提早應用。 本集團已於二零一九年四月一日提早採納該 修訂本，並選擇就於截至二零二零年三月 三十一日止年度內出租人因新型冠狀病毒疫 情而授出的所有租金寬免不應用租賃修改會 計處理。因此，租金寬免產生的租賃付款的 削減入賬列為浮動租賃付款。

68 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

2.3 ISSUED BUT NOT YET EFFECTIVE HKFRSs

The Group has not applied the following new and revised HKFRSs, that have been issued but are not yet effective, in these financial statements.

Amendments to HKFRS 3 Definition of a Business[1]

Amendments to HKFRS 9, Interest Rate Benchmark Reform[1] HKAS 39 and HKFRS 7

Amendments to HKFRS 10 Sale or Contribution of Assets between and HKAS 28 (2011) an Investor and its Associate or Joint Venture[3] HKFRS 17 Insurance Contracts[2] Amendments to HKAS 1 Definition of Material[1] and HKAS 8

• 1 Effective for annual periods beginning on or after 1 January 2020

2 Effective for annual periods beginning on or after 1 January 2021

3 No mandatory effective date yet determined but available for adoption

Further information about those HKFRSs that are expected to be applicable to the Group is described below.

Amendments to HKFRS 3 clarify and provide additional guidance on the definition of a business. The amendments clarify that for an integrated set of activities and assets to be considered a business, it must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output. A business can exist without including all of the inputs and processes needed to create outputs. The amendments remove the assessment of whether market participants are capable of acquiring the business and continue to produce outputs. Instead, the focus is on whether acquired inputs and acquired substantive processes together significantly contribute to the ability to create outputs. The amendments have also narrowed the definition of outputs to focus on goods or services provided to customers, investment income or other income from ordinary activities. Furthermore, the amendments provide guidance to assess whether an acquired process is substantive and introduce an optional fair value concentration test to permit a simplified assessment of whether an acquired set of activities and assets is not a business. The Group expects to adopt the amendments prospectively from 1 April 2020. Since the amendments apply prospectively to transactions or other events that occur on or after the date of first application, the Group will not be affected by these amendments on the date of transition.

2.3 已頒佈但尚未生效之香港財務報告準則

本集團尚未於該等財務報表應用以下已頒佈但尚未 生效之新訂及經修訂香港財務報告準則。

香港財務報告準則第3號 業務的定義[1] （修訂本） 香港財務報告準則第9號、 利率基準改革[1] 香港會計準則第39號及 香港財務報告準則第7號 （修訂本） 香港財務報告準則第10號及 投資者與其聯營公司 香港會計準則第28號 或合營公司之間的 （二零一一年）（修訂本） 資產出售或注資[3] 香港財務報告準則第17號 保險合約[2] 香港會計準則第1號及 重大的定義[1] 香港會計準則第8號 （修訂本）

• 1 於二零二零年一月一日或之後開始的年度期間生效

2 於二零二一年一月一日或之後開始的年度期間生效

• 3 尚未釐定強制生效日期，惟可供採納

預期將適用於本集團之該等香港財務報告準則之進 一步資料於下文載述。

香港財務報告準則第3號（修訂本）對業務定義作出澄 清，並提供更多指引。該等修訂澄清，就被視為業 務之一系列綜合活動及資產而言，其須包括最少一 項對共同創造產出能力有顯著貢獻之投入及實質程 序。業務可以不包括創造產出所需之所有投入及過 程而存在。該等修訂取消對市場參與者是否有能力 收購業務並繼續創造產出之評估。相反，重點在於 獲得之投入及實質性過程是否共同對創造產出能力 有顯著貢獻。該等修訂還縮窄產出之定義，重點關 注向客戶提供之貨品或服務、投資收入或源自普通 活動之其他收入。此外，該等修訂提供指引，以評 估所收購之流程是否具重要性，並引入可選之公允 值集中測試，以便簡化評估所獲得之一系列活動及 資產是否並非業務。本集團預期即將自二零二零年 四月一日起採納該等修訂。由於該等修訂預期適用 於首次應用日期或之後發生之交易或其他事件，故 本集團於交易日期將不受該等修訂影響。

高萌科技集團有限公司 • 二零一九/ 二零年年報 69

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

2.3 ISSUED BUT NOT YET EFFECTIVE HKFRSs (CONTINUED)

2.3 已頒佈但尚未生效之香港財務報告準則（續）

Amendments to HKFRS 9, HKAS 39 and HKFRS 7 address the effects of interbank offered rate reform on financial reporting. The amendments provide temporary reliefs which enable hedge accounting to continue during the period of uncertainty before the replacement of an existing interest rate benchmark. In addition, the amendments require companies to provide additional information to investors about their hedging relationships which are directly affected by these uncertainties. The amendments are effective for annual periods beginning on or after 1 April 2020. Early application is permitted. The amendments are not expected to have any significant impact on the Group’s financial statements.

香港財務報告準則第9號、香港會計準則第39號及香 港財務報告準則第7號（修訂本）旨在解決銀行同業拆 息改革對財務申報之影響。該等修訂提供可在替換 現有利率基準前之不確定期限內繼續進行對沖會計 處理之暫時性補救措施。此外，該等修訂規訂公司 須向投資者提供有關直接受該等不確定因素影響之 對沖關係之額外資料。該等修訂於二零二零年四月 一日或之後開始的年度期間有效。允許提前應用。 預期該等修訂將不會對本集團財務報表造成任何重 大影響。

Amendments to HKFRS 10 and HKAS 28 (2011) address an inconsistency between the requirements in HKFRS 10 and in HKAS 28 (2011) in dealing with the sale or contribution of assets between an investor and its associate or joint venture. The amendments require a full recognition of a gain or loss when the sale or contribution of assets between an investor and its associate or joint venture constitutes a business. For a transaction involving assets that do not constitute a business, a gain or loss resulting from the transaction is recognised in the investor’s profit or loss only to the extent of the unrelated investor’s interest in that associate or joint venture. The amendments are to be applied prospectively. The previous mandatory effective date of amendments to HKFRS 10 and HKAS 28 (2011) was removed by the HKICPA in January 2016 and a new mandatory effective date will be determined after the completion of a broader review of accounting for associates and joint ventures. However, the amendments are available for adoption now.

香港財務報告準則第10號及香港會計準則第28號 （二零一一年）（修訂本）針對香港財務報告準則第10 號及香港會計準則第28號（二零一一年）之間有關 投資者與其聯營公司或合營公司之間資產出售或注 資兩者規定之不一致情況。該等修訂規定，當投資 者與其聯營公司或合營公司之間的資產出售或注資 構成一項業務時，須確認全數收益或虧損。當交易 涉及不構成一項業務之資產時，由該交易產生之收 益或虧損於該投資者之損益內確認，惟僅以不相關 投資者於該聯營公司或合營公司之權益為限。該等 修訂將按前瞻基準應用。香港會計師公會已於二零 一六年一月剔除香港財務報告準則第10號及香港 會計準則第28號（二零一一年）（修訂本）的先前強制 生效日期，而新的強制生效日期將於對聯營公司及 合營公司的會計處理完成更廣泛的檢討後釐定。然 而，該等修訂現時可供採納。

Amendments to HKAS 1 and HKAS 8 provide a new definition of material. The new definition states that information is material if omitting, misstating or obscuring it could reasonably be expected to influence decisions that the primary users of general purpose financial statements make on the basis of those financial statements. The amendments clarify that materiality will depend on the nature or magnitude of information. A misstatement of information is material if it could reasonably be expected to influence decisions made by the primary users. The Group expects to adopt the amendments prospectively from 1 April 2020. The amendments are not expected to have any significant impact on the Group’s financial statements.

香港會計準則第1號及香港會計準則第8號（修訂本） 為重大一詞提供新定義。根據新定義，倘可合理預 期漏報、錯報或掩蓋個別資料將可影響使用財務報 表作一般目的之主要使用者基於該等財務報表作出 之決定，則該資料為重大。該等修訂指明，重大性 取決於資料之性質及牽涉範圍。倘可合理預期資料 錯報會影響主要使用者之決定，則有關錯報為重 大。本集團預期自二零二零年四月一日起按前瞻基 準採納該等修訂。該等修訂預期不會對本集團之財 務報表造成任何重大影響。

70 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3. 重大會計政策概要

Fair value measurement

The Group measures its financial assets at fair value through profit or loss at fair value at the end of each reporting period. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.

公允值計量

本集團於各報告期末以公允值計量其按公允值計入 損益的金融資產。公允值乃在市場參與者於計量日 期進行之有序交易中出售資產所收取或轉讓負債所 支付之價格。公允值計量乃基於出售資產或轉讓負 債之交易發生在該資產或負債之主要市場或（如無主 要市場）就該資產或負債而言最有利之市場的假設。 該主要市場或最有利市場必須為本集團可進入之市 場。資產或負債之公允值採用市場參與者為資產或 負債定價所採用的假設進行計量（假設市場參與者依 照彼等的最佳經濟利益行事）。

A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.

非金融資產的公允值計量計及市場參與者通過使用 其資產的最大及最佳用途或將有關資產出售予將使 用其最大及最佳用途的另一市場參與者而產生經濟 利益的能力。

The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.

本集團採用適用於有關情況並可獲得充足數據的估 值技術來計量公允值，盡量使用相關可觀察輸入數 據而盡量避免使用不可觀察輸入數據。

All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:

所有於財務報表內以公允值計量或披露的資產及負 債乃基於對公允值計量整體而言屬重大的最低層級 輸入數據按以下公允值層級分類：

• Level 1 – based on quoted prices (unadjusted) in active markets for identical assets or liabilities

• 第一級 －基於相同資產或負債在活躍市場上的報 價（未經調整）

• Level 2 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, either directly or indirectly

• 第二級 －基於對公允值計量而言屬重大的最低層 級輸入數據為可觀察（直接或間接）數據 的估值技術

• Level 3 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable

• 第三級 －基於對公允值計量而言屬重大的最低層 級輸入數據為不可觀察數據的估值技術

For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorisation (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.

就按經常性基準於財務報表確認的資產及負債而 言，本集團透過於各報告期末重新評估分類（基於對 公允值計量整體而言屬重大的最低層級輸入數據）確 定是否發生不同層級轉移。

高萌科技集團有限公司 • 二零一九/ 二零年年報 71

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Impairment of non-financial assets

Where an indication of impairment exists, or when annual impairment testing for an asset is required (other than inventories, contract assets and financial assets), the asset’s recoverable amount is estimated. An asset’s recoverable amount is the higher of the asset’s or cash-generating unit’s value in use and its fair value less costs of disposal, and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets, in which case the recoverable amount is determined for the cashgenerating unit to which the asset belongs.

An impairment loss is recognised only if the carrying amount of an asset exceeds its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. An impairment loss is charged to profit or loss in the period in which it arises in those expense categories consistent with the function of the impaired asset.

An assessment is made at the end of each reporting period as to whether there is an indication that previously recognised impairment losses may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognised impairment loss of an asset other than goodwill is reversed only if there has been a change in the estimates used to determine the recoverable amount of that asset, but not to an amount higher than the carrying amount that would have been determined (net of any depreciation/amortisation) had no impairment loss been recognised for the asset in prior years. A reversal of such an impairment loss is credited to profit or loss in the period in which it arises.

3. 重大會計政策概要（續）

非金融資產之減值

倘存在減值跡象，或當資產須作出年度減值測試（存 貨、合約資產及金融資產除外），會估計資產之可 收回金額。資產之可收回金額乃按該資產或現金產 生單位之使用價值與其公允值減出售成本之較高者 計算，並就個別資產作出釐定，除非該資產並不產 生很大程度上獨立於其他資產或資產組別之現金流 入，則在此情況下，可收回金額乃就該資產所屬現 金產生單位予以釐定。

減值虧損僅於資產賬面值超過其可收回金額時確 認。於評估使用價值時，估計未來現金流量乃採用 反映現時市場對該資產之貨幣時間價值及特定風險 評估之稅前貼現率，貼現至其現值。減值虧損於其 產生期間在損益中在與減值資產功能一致的相關開 支類別內扣除。

於各報告期末將評估有否跡象顯示以往確認之減值 虧損可能不再存在或可能已減少。如存在有關跡 象，則會估計可收回金額。以往確認之商譽以外之 資產減值虧損，僅於用作釐定該資產可收回金額之 估計出現變動時撥回，然而，不得撥回至高於假設 過往年度並無確認資產減值虧損下而釐定之賬面值 （扣除任何折舊╱攤銷）之金額。有關減值虧損撥回 於產生期間計入損益。

72 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Related parties

A party is considered to be related to the Group if:

關聯方

倘屬下列情況，有關方將被視為本集團之關聯方：

• (a) the party is a person or a close member of that person’s family and that person

• (a) 有關方為一名人士或該名人士家族之近親， 而該名人士

• (i) has control or joint control over the Group;

• (i) 控制或共同控制本集團；

• (ii) has significant influence over the Group; or

• (ii) 對本集團有重大影響力；或

• (iii) is a member of the key management personnel of the Group or of a parent of the Group;

• (iii) 為本集團或本集團母公司之主要管理層 成員；

or

或

• (b) the party is an entity where any of the following conditions applies:

• (b) 有關方為符合下列任何條件之實體：

• (i) the entity and the Group are members of the same group;

• (i) 該實體與本集團屬同一集團之成員公 司；

• (ii) one entity is an associate or joint venture of the other entity (or of a parent, subsidiary or fellow subsidiary of the other entity);

• (ii) 一間實體為另一實體（或另一實體之母 公司、附屬公司或同系附屬公司）之聯 營公司或合營公司；

• (iii) the entity and the Group are joint ventures of the same third party;

• (iii) 該實體及本集團均為同一第三方之合營 公司；

• (iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity;

• (iv) 一間實體為第三方實體之合營公司，而 另一實體為該第三方實體之聯營公司；

• (v) the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group;

• (v) 該實體為離職後福利計劃，而該計劃之 受益人為本集團或與本集團有關聯之實 體的僱員；

• (vi) the entity is controlled or jointly controlled by a person identified in (a);

• (vi) 該實體由(a)項所識別人士控制或共同控 制；

• (vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and

• (vii) 於(a)(i)項所識別人士對該實體有重大影 響力或屬該實體（或該實體之母公司）主 要管理層成員；及

• (viii) the entity, or any member of a group of which it is a part, provides key management personnel services to the Group or to the parent of the Group.

• (viii) 該實體，或其所屬集團之任何成員公 司，向本集團或本集團之母公司提供主 要管理人員服務。

高萌科技集團有限公司 • 二零一九/ 二零年年報 73

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and any impairment losses. The cost of an item of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use.

Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, is normally charged to profit or loss in the period in which it is incurred. In situations where the recognition criteria are satisfied, the expenditure for a major inspection is capitalised in the carrying amount of the asset as a replacement. Where significant parts of property, plant and equipment are required to be replaced at intervals, the Group recognises such parts as individual assets with specific useful lives and depreciates them accordingly.

Depreciation is calculated on the straight-line basis to write off the cost of each item of property, plant and equipment to its residual value over its estimated useful life. The principal annual rates used for this purpose are as follows:

Leasehold improvements	Over the shorter of the lease terms and 20%
Furniture and fixtures	20%
Plant and machinery	20%
Computer equipment	20%
Motor vehicles	20%
Cruiser	20%

Where parts of an item of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and depreciation methods are reviewed, and adjusted if appropriate, at least at each financial year end.

An item of property, plant and equipment including any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognised in profit or loss in the year the asset is derecognised is the difference between the net sales proceeds and the carrying amount of the relevant asset.

Research and development costs

All research costs are charged to profit or loss as incurred.

Expenditure incurred on projects to develop new projects is capitalised and deferred only when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the project and the ability to measure reliably the expenditure during the development. Project development expenditure which does not meet these criteria is expensed when incurred.

3. 重大會計政策概要（續）

物業、廠房及設備

物業、廠房及設備按成本減累計折舊及任何減值虧 損列賬。物業、廠房及設備項目成本包括其購買價 及任何使資產達致可使用狀態及運抵使用地點作擬 定用途之直接應計成本。

物業、廠房及設備項目投入運作後產生之開支（如維 修及保養費用）一般於產生期間自損益扣除。在符合 確認標準之情況下，主要檢修費用將予以資本化， 作為一項置換列入資產之賬面值。倘物業、廠房及 設備之重要部分須定期更換，本集團會將該等部分 確認為擁有特定可使用年期之獨立資產，並計算相 應折舊。

折舊按每個物業、廠房及設備項目之估計可使用年 期以直線法基準計算，以撇銷其成本至其剩餘價 值。就此而言，所用之主要年率如下：

租賃物業裝修	按租期及20%（以較短者為準）
傢俬及固定裝置	20%
廠房及機器	20%
電腦設備	20%
汽車	20%
小型快艇	20%

倘物業、廠房及設備項目之各部分有不同可使用年 期，則該項目之成本會按合理基準分配至不同部 分，而各部分會獨立計算折舊。至少於各財政年度 結算日會檢討及調整（如適用）剩餘價值、可使用年 期及折舊方法。

物業、廠房及設備項目（包括任何已首次確認之重要 部分）於出售或預期不會自其使用或出售產生未來經 濟利益時終止確認。於該資產終止確認之年度在損 益確認之出售或報廢所產生之任何收益或虧損，為 出售所得款項淨額與有關資產賬面值間之差額。

研發成本

所有研究成本於產生時自損益扣除。

新項目開發項目產生之開支僅於本集團證明於技術 上能夠完成無形資產供使用或出售、有意完成及有 能力使用或出售該資產、該資產將帶來未來經濟利 益之方法、具有完成項目所需之資源且能夠可靠地 計量開發期間之開支時，方會撥充資本並以遞延方 式入賬。未能符合該等標準之項目開發開支概於產 生時支銷。

74 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Leases (applicable from 1 April 2019)

The Group assesses at contract inception whether a contract is, or contains, a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.

租賃（自二零一九年四月一日起適用）

本集團於合約開始時評估合約是否為租賃或包含租 賃。倘合約為換取代價而給予在一段時間內控制已 識別資產使用的權利，則該合約為租賃或包含租 賃。

Group as a lessee

The Group applies a single recognition and measurement approach for all leases, except for short-term leases and leases of lowvalue assets. The Group recognises lease liabilities to make lease payments and right-of-use assets representing the right to use the underlying assets.

本集團作為承租人

本集團對所有租賃（惟短期租賃及低價值資產租賃除 外）採取單一確認及計量方法。本集團確認租賃負債 以作出租賃付款，而使用權資產指使用相關資產的 權利。

• (a) Right-of-use assets

Right-of-use assets are recognised at the commencement date of the lease (that is the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and any impairment losses, and adjusted for any remeasurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognised, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Right-of-use assets are depreciated on a straight-line basis over the shorter of the lease terms and the estimated useful lives of the assets as follows:

• (a) 使用權資產 使用權資產於租賃開始日期（即有關資產可供 使用的日期）確認。使用權資產按成本減任何 累計折舊及任何減值虧損計量，並就租賃負 債之任何重新計量作出調整。使用權資產之 成本包括已確認租賃負債金額、已發生初始 直接成本及於開始日期或之前支付之租賃付 款減已收取之任何租賃優惠。使用權資產於 租期及資產估計使用年期（以較短者為準）內 以直線法折舊如下：

Office premises 1.5 to 3 years Warehouse 2 years

If ownership of the leased asset transfers to the Group by the end of the lease term or the cost reflects the exercise of a purchase option, depreciation is calculated using the estimated useful life of the asset.

辦公室物業 1.5至3年 倉庫 2年

倘於租期結束時租賃資產的擁有權轉讓至本 集團或成本反映購買權的行使，折舊則根據 資產的估計可使用年期計算。

(b) Lease liabilities

Lease liabilities are recognised at the commencement date of the lease at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in-substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Group and payments of penalties for termination of a lease, if the lease term reflects the Group exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognised as an expense in the period in which the event or condition that triggers the payment occurs.

(b) 租賃負債 租賃負債於租賃開始日期按於租期內作出之 租賃付款現值確認。租賃付款包括固定付款 （包括實質固定付款）減任何應收租賃優惠、 取決於某一指數或比率之可變租賃付款及預 期根據在剩餘價值擔保中將支付之金額。租 賃付款亦包括本集團合理確定行使購買選擇 權之行使價，倘租賃期反映了本集團行使終 止選擇權，則須就終止租賃支付罰款。並非 取決於某一指數或比率之可變租賃付款於發 生觸發付款之事件或狀況期間確認為開支。

高萌科技集團有限公司 • 二零一九/ 二零年年報 75

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Leases (applicable from 1 April 2019) (continued) Group as a lessee (continued)

(b) Lease liabilities (continued)

In calculating the present value of lease payments, the Group uses its incremental borrowing rate at the lease commencement date because the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is remeasured if there is a modification, a change in the lease term, a change in lease payments (e.g., a change to future lease payments resulting from a change in an index or rate) or a change in assessment of an option to purchase the underlying asset.

The Group’s lease liabilities are separately disclosed in the consolidated statement of financial position.

Leases that transfer substantially all the risks and rewards incidental to ownership of an underlying asset to the lessee are accounted for as finance leases.

Leases (applicable before 1 April 2019)

Leases that transfer substantially all the rewards and risks of ownership of assets to the Group, other than legal title, are accounted for as finance leases.

Leases where substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. Where the Group is the lessee, rentals payable under operating leases net of any incentives received from the lessor are charged to profit or loss on the straight-line basis over the lease terms.

Investments and other financial assets

Initial recognition and measurement

Financial assets are classified, at initial recognition, as subsequently measured at amortised cost and fair value through profit or loss.

The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the Group’s business model for managing them. With the exception of trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient of not adjusting the effect of a significant financing component, the Group initially measures a financial asset at its fair value plus in the case of a financial asset not at fair value through profit or loss, transaction costs. Trade receivables that do not contain a significant financing component or for which the Group has applied the practical expedient are measured at the transaction price determined under HKFRS 15 in accordance with the policies set out for “Revenue recognition” below.

3. 重大會計政策概要（續）

租賃（自二零一九年四月一日起適用）（續） 本集團作為承租人（續）

(b) 租賃負債（續） 於計算租賃付款現值時，由於租賃中所隱含 之利率不易釐定，本集團則於租賃開始日期 使用其增量借貸利率。於開始日期後，租賃 負債金額會增加，以反映利息增加及就所付 租賃付款作出調減。此外，倘出現修改、租 期變動、租賃付款變動（如指數或比率變動所 產生之未來租賃付款變動）購買相關資產之選 擇權評估變更，租賃負債的賬面值將予重新 計量。

本集團的租賃負債於綜合財務狀況表內單獨 披露。

將相關資產絕大部份之風險及回報擁有權轉移至承 租人的租賃入賬列為融資租賃。

租賃（於二零一九年四月一日之前適用）

凡將資產所有權（法定業權除外）絕大部分回報及風 險撥歸本集團的租賃均列為融資租賃。

凡由出租人保留資產擁有權絕大部分回報及風險之 租賃，均列作經營租賃。倘本集團為承租人，則根 據經營租賃應付之租金（扣除任何已從出租人收取之 獎勵）按直線法於租期內從損益扣除。

投資及其他金融資產 初步確認及計量

金融資產於初步確認時分類，其後按攤銷成本及按 公允值計入損益計量。

初步確認時的金融資產分類取決於金融資產的合約 現金流量特徵以及本集團管理彼等的業務模式。除 並不包含重大融資成分或本集團已採用不調整重大 融資成分影響之切實可行權宜方法之貿易應收款項 外，本集團初始按公允值加上（倘金融資產並非按公 允值計入損益）交易成本計量金融資產。並不包含重 大融資成分或本集團已採用切實可行權宜方法之貿 易應收款項，乃根據下文「收益確認」所載政策按照 香港財務報告準則第15號釐定之交易價格計量。

76 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Investments and other financial assets (continued) Initial recognition and measurement (continued)

In order for a financial asset to be classified and measured at amortised cost or fair value through other comprehensive income, it needs to give rise to cash flows that are solely payments of principal and interest (“SPPI”) on the principal amount outstanding. Financial assets with cash flows that are not SPPI are classified and measured at fair value through profit or loss, irrespective of the business model.

The Group’s business model for managing financial assets refers to how it manages its financial assets in order to generate cash flows. The business model determines whether cash flows will result from collecting contractual cash flows, selling the financial assets, or both. Financial assets classified and measured at amortised cost are held within a business model with the objective to hold financial assets in order to collect contractual cash flows, while financial assets classified and measured at fair value through other comprehensive income are held within a business model with the objective of both holding to collect contractual cash flows and selling. Financial assets which are not held within the aforementioned business models are classified and measured at fair value through profit or loss.

All regular way purchases and sales of financial assets are recognised on the trade date, that is, the date that the Group commits to purchase or sell the asset. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the period generally established by regulation or convention in the marketplace.

Subsequent measurement

The subsequent measurement of financial assets depends on their classification as follows:

Financial assets at amortised cost (debt instruments)

Financial assets at amortised cost are subsequently measured using the effective interest method and are subject to impairment. Gains and losses are recognised in profit or loss when the asset is derecognised, modified or impaired.

Financial assets at fair value through profit or loss

Financial assets at fair value through profit or loss are carried in the statement of financial position at fair value with net changes in fair value recognised in profit or loss.

This category includes derivative instruments and equity investments which the Group had not irrevocably elected to classify at fair value through other comprehensive income. Dividends on equity investments classified as financial assets at fair value through profit or loss are also recognised as other income in profit or loss when the right of payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably.

3. 重大會計政策概要（續）

投資及其他金融資產（續） 初步確認及計量（續）

為使金融資產按攤銷成本或按公允值計入其他全 面收益進行分類及計量，需產生純粹為支付本金 及未償還本金利息（「純粹支付本金及利息」）的現金 流量。現金流量並非純粹支付本金及利息的金融資 產，不論其業務模式如何，均按公允值計入損益分 類及計量。

本集團管理金融資產的業務模式指其如何管理其金 融資產以產生現金流量。業務模式確定現金流量是 否來自收取合約現金流量、出售金融資產，或兩者 兼有。而按攤銷成本分類及計量的金融資產於旨在 持有金融資產以收取合約現金流量的業務模式中持 有，而按公允值計入其他全面收益分類及計量的金 融資產於旨在收取合約現金流量以及出售的業務模 式中持有。並非於上述業務模式中持有的金融資產 按公允值計入損益分類及計量。

所有正常購買及銷售之金融資產，於交易日確認， 即本集團承諾購買或出售資產當日。正常購買或銷 售是指按照市場既有規定或慣例須在一段期限內交 付資產之金融資產買賣。

後續計量

金融資產的後續計量取決於其以下的分類情況：

按攤銷成本列賬的金融資產（債務工具）

按攤銷成本列賬之金融資產其後使用實際利率法計 量，並可能受減值影響。當資產終止確認、修訂或 減值時，收益及虧損於損益內確認。

按公允值計入損益的金融資產

按公允值計入損益的金融資產於財務狀況表按公允 值列賬，而公允值變動淨額則於損益內確認。

該類別包括本集團並無不可撤回地選擇按公允值計 入其他全面收益進行分類的衍生工具及股權投資。 在支付權確立、與股息相關的經濟利益很可能流入 本集團，且股息金額能夠可靠計量時，分類為按公 允值計入損益的金融資產的股權投資的股息亦於損 益確認為其他收入。

高萌科技集團有限公司 • 二零一九/ 二零年年報

77

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Derecognition of financial assets

A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is primarily derecognised (i.e., removed from the Group’s consolidated statement of financial position) when:

終止確認金融資產

金融資產（或，倘適用，一項金融資產的一部份或一 組同類金融資產部份）在下列情況中終止確認（如自 本集團綜合財務報表中移除）：

• the rights to receive cash flows from the asset have expired; or

• 收取該項資產所得現金流量的權利經已屆 滿；或

• the Group has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay the received cash flows in full without material delay to a third party under a “pass-through” arrangement; and either (a) the Group has transferred substantially all the risks and rewards of the asset, or (b) the Group has neither transferred nor retained substantially all the risks and rewards of the asset, but has transferred control of the asset.

• 本集團已轉讓其收取該項資產所得現金流量 的權利，或已承擔一項責任，在未有嚴重拖 延之情況下，根據一項「轉付」安排向第三方 全數支付已收取之現金流量；以及(a)本集團 已轉讓該項資產之絕大部份風險及回報，或 (b)本集團並無轉讓或保留該項資產絕大部份 風險及回報，但已轉讓該項資產之控制權。

When the Group has transferred its rights to receive cash flows from an asset or has entered into a pass-through arrangement, it evaluates if, and to what extent, it has retained the risk and rewards of ownership of the asset. When it has neither transferred nor retained substantially all the risks and rewards of the asset nor transferred control of the asset, the Group continues to recognise the transferred asset to the extent of the Group’s continuing involvement. In that case, the Group also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects the rights and obligations that the Group has retained.

倘若本集團已轉讓其收取資產所得現金流量之權 利，或已訂立轉付安排，其將評估其是否保留該 項資產之擁有權的風險及回報以及保留之程度。當 其並無轉讓亦無保留該項資產之絕大部份風險及回 報，亦無轉讓該項資產的控制權，則該項資產將於 本集團繼續按其持續參與程度確認該已轉讓資產。 在此情況下，本集團同時確認相關負債。已轉讓資 產及相關負債按反映本集團所保留權利及責任之基 準計量。

Continuing involvement that takes the form of a guarantee over the transferred asset is measured at the lower of the original carrying amount of the asset and the maximum amount of consideration that the Group could be required to repay.

以擔保方式繼續參與已轉讓資產之程度，乃按資產 原有賬面值與本集團可被要求償還的最高代價金額 兩者的較低者計量。

Impairment of financial assets

The Group recognises an allowance for expected credit losses (“ ECLs ”) for all debt instruments not held at fair value through profit or loss. ECLs are based on the difference between the contractual cash flows due in accordance with the contract and all the cash flows that the Group expects to receive, discounted at an approximation of the original effective interest rate. The expected cash flows will include cash flows from the sale of collateral held or other credit enhancements that are integral to the contractual terms.

金融資產減值

本集團確認對並非按公允值計入損益持有的所有債 務工具預期信貸虧損（「 預期信貸虧損 」）的撥備。預 期信貸虧損乃基於根據合約到期的合約現金流量與 本集團預期收取的所有現金流量之間的差額而釐 定，並以原實際利率的近似值貼現。預期現金流量 將包括出售所持抵押品的現金流量或組成合約條款 的其他信貸提升措施。

78 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Impairment of financial assets (continued) General approach

ECLs are recognised in two stages. For credit exposures for which there has not been a significant increase in credit risk since initial recognition, ECLs are provided for credit losses that result from default events that are possible within the next 12 months (a 12-month ECL). For those credit exposures for which there has been a significant increase in credit risk since initial recognition, a loss allowance is required for credit losses expected over the remaining life of the exposure, irrespective of the timing of the default (a lifetime ECL).

金融資產減值（續） 一般方法

預期信貸虧損分兩個階段進行確認。就自初步確認 起未有顯著增加的信貸風險而言，會為未來12個月 內可能發生違約事件而導致的信貸虧損(12個月預期 信貸虧損）計提預期信貸虧損撥備。就自初步確認起 已顯著增加的信貸風險而言，不論何時發生違約， 須就於餘下風險年限內的預期信貸虧損計提虧損撥 備（存續期預期信貸虧損）。

At each reporting date, the Group assesses whether the credit risk on a financial instrument has increased significantly since initial recognition. When making the assessment, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition and considers reasonable and supportable information that is available without undue cost or effort, including historical and forward-looking information.

本集團於各報告日期評估金融工具的信貸風險是否 自初步確認以來顯著增加。在進行該評估時，本集 團將於報告日期就金融工具發生之違約風險與初步 確認日期起金融工具發生之違約風險進行比較，並 會認為無須付出過多成本或努力即可獲得的合理及 有佐證的資料（包括過往及前瞻性資料）。

The Group considers a financial asset to be in default when contractual payments are 90 days past due. However, in certain cases, the Group may also consider a financial asset to be in default when internal or external information indicates that the Group is unlikely to receive the outstanding contractual amounts in full before taking into account any credit enhancements held by the Group. A financial asset is written off when there is no reasonable expectation of recovering the contractual cash flows.

倘合約付款已逾期90日，則本集團將相關金融資產 視為違約。然而，在若干情況下，倘內部或外部資 料反映，在計及任何本集團之信貸提升措施前，本 集團不大可能悉數收到未償還合約款項，則本集團 亦可將金融資產視為違約。倘無合理預期可收回合 約現金流量，則對金融資產進行撇銷。

Financial assets at amortised cost are subject to impairment under the general approach and they are classified within the following stages for measurement of ECLs except for trade receivables and contract assets which apply the simplified approach as detailed below.

除採用下述簡化方法的貿易應收款項及合約資產以 外，按攤銷成本計量的金融資產，均須按一般方法 進行減值，並於下列各階段內分類，計量預期信貸 虧損：

• Stage 1 – Financial instruments for which credit risk has not increased significantly since initial recognition and for which the loss allowance is measured at an amount equal to 12-month ECLs

• 第一階段－自初步確認以來信貸風險並無顯著增 加及虧損撥備以相當於12個月預期信 貸虧損金額計量的金融工具。

• Stage 2 – Financial instruments for which credit risk has increased significantly since initial recognition but that are not credit-impaired financial assets and for which the loss allowance is measured at an amount equal to lifetime ECLs

• 第二階段－自初步確認以來信貸風險顯著增加但 並非信貸減值的金融資產及其虧損撥 備以相當於存續期預期信貸虧損金額 計量的金融工具。

• Stage 3 Financial assets that are credit-impaired at the reporting date (but that are not purchased or originated credit-impaired) and for which the loss allowance is measured at an amount equal to lifetime ECLs

• 第三階段－於報告日期為信貸減值（但並非購買或 原始信貸減值）且其虧損撥備以相當於 存續期預期信貸虧損金額計量的金融 資產。

79

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Impairment of financial assets (continued)

Simplified approach

For trade receivables and contract assets that do not contain a significant financing component or when the Group applies the practical expedient of not adjusting the effect of a significant financing component, the Group applies the simplified approach in calculating ECLs. Under the simplified approach, the Group does not track changes in credit risk, but instead recognises a loss allowance based on lifetime ECLs at each reporting date.

金融資產減值（續）

簡化方法

就並無包含重大融資成分或本集團已應用可行權宜 方法不調整重要融資成分影響的貿易應收款項及合 約資產而言，本集團採用簡化的方法計算預期信貸 虧損。根據該簡化方法，本集團並無追溯信貸風險 變動，而是於各報告日期就存續期預期信貸虧損確 認虧損撥備。

For trade receivables and contract assets that contain a significant financing component, the Group chooses as its accounting policy to adopt the simplified approach in calculating ECLs with policies as described above.

就包含重大融資成分的貿易應收款項及合約資產而 言，本集團選擇採用簡化方法計算預期信貸虧損以 上文所述政策作為其會計政策。

Financial liabilities

Initial recognition and measurement

Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings or payables, as appropriate.

金融負債 初步確認及計量

金融負債於初步確認時分類為按公允值計入損益的 金融負債、貸款及借貸或應付款項（倘適用）。

These financial liabilities are recognised initially at fair value and, in the case of loans and borrowings and payables, net of directly attributable transaction costs.

該等金融負債初步按公允值確認，而貸款及借貸以 及應付款項則須扣減直接應佔交易成本。

The Group’s financial liabilities include trade and other payables.

本集團的金融負債包括貿易及其他應付款項。

Subsequent measurement

The subsequent measurement of financial liabilities depends on their classification as follows:

後續計量 金融負債其後按其分類計量如下：

Financial liabilities at amortised cost (loans and borrowings)

After initial recognition, interest-bearing loans and borrowings are subsequently measured at amortised cost, using the effective interest rate method unless the effect of discounting would be immaterial, in which case they are stated at cost. Gains and losses are recognised in profit or loss when the liabilities are derecognised as well as through the effective interest rate amortisation process.

按攤銷成本計量的金融負債（貸款及借貸）

於初步確認後，計息貸款及借貸其後採用實際利率 法按攤銷成本計量，惟除非貼現的影響不大，於該 情況下則會按成本列賬。終止確認負債及按實際利 率攤銷過程中產生的損益在損益內確認。

Amortised cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the effective interest rate. The effective interest rate amortisation is included in finance costs in profit or loss.

於計算攤銷成本時考慮任何收購折讓或溢價以及作 為實際利率一部分的費用或成本。實際利率攤銷於 損益內列為融資成本。

80 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Derecognition of financial liabilities

A financial liability is derecognised when the obligation under the liability is discharged or cancelled, or expires.

When an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified, such an exchange or modification is treated as a derecognition of the original liability and a recognition of a new liability, and the difference between the respective carrying amounts is recognised in profit or loss.

Offsetting of financial instruments

Financial assets and financial liabilities are offset and the net amount is reported in the statement of financial position if there is a currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis, or to realise the assets and settle the liabilities simultaneously.

Treasury shares

Own equity instruments which are reacquired and held by the Company or the Group (treasury shares) are recognised directly in equity at cost. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group’s own equity instruments.

Inventories

Inventories are stated at the lower of cost and net realisable value. Cost is determined on the weighted average basis. Net realisable value is based on estimated selling prices less any estimated costs to disposal.

Cash and cash equivalents

For the purpose of the consolidated statement of cash flows, cash and cash equivalents comprise cash on hand and demand deposits, and short term highly liquid investments that are readily convertible into known amounts of cash, are subject to an insignificant risk of changes in value and less bank overdrafts which are repayable on demand and form an integral part of the Group’s cash management.

For the purpose of the consolidated statement of financial position, cash and cash equivalents comprise cash on hand and at banks, including term deposits, and assets similar in nature to cash, which are not restricted as to use.

3. 重大會計政策概要（續）

終止確認金融負債

倘金融負債下的義務被解除、取消或到期，則本集 團會終止確認金融負債。

當現有金融負債被來自同一放款人的另一項條款迥 異的金融負債替換，或現有負債的條款大部分被修 訂時，該項替換或修訂會被視作終止確認原有負債 及確認新負債，相關各賬面價值之差額於損益內確 認。

抵銷金融工具

倘現時存在一項可強制執行法定權利，可抵銷已確 認金額，且擬以淨額結算或同時變現資產及清算債 務，則金融資產與金融負債可予抵銷，並以淨額在 財務狀況表呈報。

庫存股份

本公司或本集團持有及重新購入的自身股本工具（庫 存股份）按成本直接於權益中確認。就購買、銷售、 發行或註銷本集團自身的股本工具而言，毋須於損 益內確認損益。

存貨

存貨按成本與可變現淨值兩者中的較低者列賬。成 本按加權平均法釐定。可變現淨值乃基於估計售價 減任何在出售時產生的估計成本作出。

現金及現金等價物

就綜合現金流量表而言，現金及現金等價物包括手 頭現金及活期存款，以及可隨時兌換為已知數額現 金且價值波動風險輕微的短期高流通性投資，減須 按要求償還的銀行透支，構成本集團現金管理的整 體部分。

就綜合財務狀況表而言，現金及現金等價物包括用 途不受限制的手頭現金及存放於銀行的現金（包括定 期存款）以及與現金性質類似的資產。

81

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Provisions

A provision is recognised when a present obligation (legal or constructive) has arisen as a result of a past event and it is probable that a future outflow of resources will be required to settle the obligation, provided that a reliable estimate can be made of the amount of the obligation.

When the effect of discounting is material, the amount recognised for a provision is the present value at the end of the reporting period of the future expenditures expected to be required to settle the obligation. The increase in the discounted present value amount arising from the passage of time is included as finance costs in profit or loss.

The Group provides for warranties in relation to the provision of E&M engineering services and sales of parts and components for general repairs of defects occurring during the warranty period. Provisions for these assurance-type warranties granted by the Group are recognised based on past experience of the level of repairs and returns, discounted to their present values as appropriate.

Income tax

Income tax comprises current and deferred tax. Income tax relating to items recognised outside profit or loss is recognised outside profit or loss, either in other comprehensive income or directly in equity.

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period, taking into consideration interpretations and practices prevailing in the countries in which the Group operates.

Deferred tax is provided, using the liability method, on all temporary differences at the end of the reporting period between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred tax liabilities are recognised for all taxable temporary differences, except:

• when the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and

• in respect of taxable temporary differences associated with investments in subsidiaries, associates and joint ventures, when the timing of the reversal of the temporary differences can be controlled and it is probable that the temporary differences will not reverse in the foreseeable future.

3. 重大會計政策概要（續）

撥備

若由於過往事項產生現有法定或推斷責任，而履行 責任可能需要未來資源流出，且該責任的數額能可 靠估計，則會確認撥備。

當貼現影響重大時，已確認的撥備數額為預期履行 責任所需的未來支出於報告期末的現值。隨時間流 逝而產生的貼現現值增加將計入損益的融資成本。

本集團就提供之機電工程服務及銷售零件及部件於 保修期內發生缺陷之一般維修提供保證。本集團授 予該等保證型保證撥備乃根據維修及退貨水平之過 往經驗確認，並貼現至適當之現值。

所得稅

所得稅包括當期及遞延稅項。未確認損益的項目相 關的所得稅不計入損益，應在其他全面收益確認或 直接在權益中確認。

當期稅項資產及負債按根據於報告期末已經頒佈或 實質上已頒佈的稅率（及稅法）及考慮本集團營運所 在國家通行的詮釋及慣例預期獲退回或已付予稅務 當局的數額計量。

遞延稅項使用負債法，於報告期末就資產與負債的 稅基與其作財務申報用途的賬面值之間所有暫時差 額作出撥備。

所有應納稅暫時性差異均確認為遞延稅項負債，除 非：

• 遞延稅項負債是由初始確認非業務合併交易 的商譽或資產和負債所產生，而在交易時既 不影響會計溢利亦不影響應課稅溢利或虧 損；及

• 應課稅暫時性差額與附屬公司、聯營公司及 合營公司的投資相關，而本集團能夠控制暫 時性差額撥回的時間，並且在可見未來應不 會撥回暫時性差額。

82 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Income tax (continued)

Deferred tax assets are recognised for all deductible temporary differences, and the carryforward of unused tax credits and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carryforward of unused tax credits and unused tax losses can be utilised, except:

所得稅（續）

所有可抵扣的暫時性差額、結轉未利用的稅項抵免 及任何未利用的稅務損失確認為遞延稅項資產，但 以很有可能有足夠的應課稅溢利抵銷可抵扣的暫時 性差額、以及結轉未利用的稅項抵免及未利用的稅 務損失為限，除非：

• when the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss; and

• 與可抵扣暫時性差額相關的遞延稅項資產， 由初始確認非業務合併交易的資產或負債所 產生，而在交易時既不影響會計溢利亦不影 響應課稅溢利或損失；及

• in respect of deductible temporary differences associated with investments in subsidiaries, associates and joint ventures, deferred tax assets are only recognised to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised.

• 可抵扣暫時性差額與附屬公司、聯營公司及 合營公司的投資相關，則僅在暫時性差額將 於可見未來撥回，且有足夠應課稅溢利可供 抵銷的情況下，方會確認遞延稅項資產。

The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at the end of each reporting period and are recognised to the extent that it has become probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be recovered.

於各報告期末對遞延稅項資產的賬面值予以覆核。 如果不再是很可能獲得足夠的應課稅溢利以動用部 分或全部遞延稅項資產，應減少該項遞延稅項資 產。於各報告期末應重新評估未確認的遞延稅項資 產，倘若很可能有足夠應課稅溢利可供收回所有或 部分遞延稅項資產，應確認遞延稅項資產。

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

遞延稅項資產及負債按變現資產或償還負債期間預 計適用稅率計量，而預計的適用稅率乃按報告期末 已頒佈或實質上已頒佈的稅率（及稅法）釐定。

Deferred tax assets and deferred tax liabilities are offset if and only if the Group has a legally enforceable right to set off current tax assets and current tax liabilities and the deferred tax assets and deferred tax liabilities relate to income taxes levied by the same taxation authority on either the same taxable entity or different taxable entities which intend either to settle current tax liabilities and assets on a net basis, or to realise the assets and settle the liabilities simultaneously, in each future period in which significant amounts of deferred tax liabilities or assets are expected to be settled or recovered.

當且僅當本集團擁有可依法強制執行之權利對銷即 期稅項資產及即期稅項負債，且遞延稅項資產及遞 延稅項負債與同一稅務當局對同一應課稅實體或於 各未來期間預期有大額遞延稅項負債或資產需要結 算或清償時，擬按淨額基準結算即期稅項負債及資 產或同時變現資產及結算負債之不同應課稅實體徵 收之所得稅相關，則遞延稅項資產及遞延稅項負債 可予對銷。

83

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Government grants

Government grants are recognised at their fair value where there is reasonable assurance that the grant will be received and all attaching conditions will be complied with. When the grant relates to an expense item, it is recognised as income on a systematic basis over the periods that the costs, which it is intended to compensate, are expensed.

Where the grant relates to an asset, the fair value is credited to a deferred income account and is released to profit or loss over the expected useful life of the relevant asset by equal annual instalments or deducted from the carrying amount of the asset and released to profit or loss by way of a reduced depreciation charge.

Revenue recognition

Revenue from contracts with customers

Revenue from contracts with customers is recognised when control of goods or services is transferred to the customers at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services.

When the consideration in a contract includes a variable amount, the amount of consideration is estimated to which the Group will be entitled in exchange for transferring the goods or services to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the associated uncertainty with the variable consideration is subsequently resolved.

When the contract contains a financing component which provides the customer with a significant benefit of financing the transfer of goods or services to the customer for more than one year, revenue is measured at the present value of the amount receivable, discounted using the discount rate that would be reflected in a separate financing transaction between the Group and the customer at contract inception. When the contract contains a financing component which provides the Group a significant financial benefit for more than one year, revenue recognised under the contract includes the interest expense accreted on the contract liability under the effective interest method. For a contract where the period between the payment by the customer and the transfer of the promised goods or services is one year or less, the transaction price is not adjusted for the effects of a significant financing component, using the practical expedient in HKFRS 15.

• (a) Provision of E&M engineering solutions and services Revenue from the provision of E&M engineering solutions and services is generated from the design, supply, installation of systems and implementation of E&M engineering solutions and services, design and fabrication services for the fabrication of made-to-order products for the customers, where applicable.

3. 重大會計政策概要（續）

政府補助

倘有合理保證可取得政府補助，並符合所有附帶條 件，則會按其公允值確認政府補助。倘有關補助乃 與一項開支項目有關，則按有系統的基準於支銷擬 作補償的成本期間確認。

當政府補助與某個資產項目相關聯時，公允值計入 遞延收入賬，並根據相關資產之預期可使用年期以 年限平均法調撥至損益，或者從資產的賬面值中減 去並通過減少折舊費用的方式計入損益。

收益確認

來自客戶合約的收益

來自客戶合約的收益於貨品或服務的控制權轉移至 客戶時確認，其金額反映本集團預期就交換該等貨 品或服務有權獲得的代價。

當合約的代價包括可變金額，代價金額估算為本集 團向客戶轉移貨品或服務而有權換取的代價。可變 代價於合約開始時估計並受到約束，直至其後消除 可變代價的相關不確定因素，使已確認累計收益金 額的重大收益撥回不大可能發生。

當合約包含融資成分並向客戶提供超過一年為轉移 貨品或服務進行融資的重大利益時，收益於合約開 始時按應收金額現值計量，並使用貼現率貼現，有 關貼現率將於本集團與客戶之間之獨立融資交易中 反映。當合約包含融資成分並向本集團提供超過一 年的重大財務利益時，根據合約確認的收益包括按 照實際利率法對合約負債累計的利息開支。就客戶 付款與轉移所承諾貨品或服務間之期間為一年或以 內的合約，交易價使用香港財務報告準則第15號 可行權宜方法，不會就重大融資成分的影響予以調 整。

• (a) 提供機電工程解決方案及服務 提供機電工程解決方案及服務之收益來自系 統設計、供應、安裝及執行機電工程解決方 案及服務，為客戶裝配按訂單製造的產品的 設計及裝配服務（如適用）。

84 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Revenue recognition (continued) Revenue from contracts with customers (continued)

• (a) Provision of E&M engineering solutions and services (continued)

Revenue is recognised over time, using an input method to measure progress towards complete satisfaction of the service, because the Group’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced. The input method recognises revenue based on the proportion of the actual costs incurred relative to the estimated total costs for satisfaction of the construction services.

收益確認（續）

來自客戶合約的收益（續）

• (a) 提供機電工程解決方案及服務（續）

由於本集團之履約行為創造或改良了客戶在 資產被創造或改良時已控制的資產，因此本 集團隨時間轉移確認收益，並採用輸入法計 量完全達成合約的進度。輸入法按已實際產 生的成本佔完成建造服務所需估計總成本的 比例而確認收益。

Claims to customers are amounts that the Group seeks to collect from the customers as reimbursement of costs and margins for scope of works not included in the original construction contract. Claims are accounted for as variable consideration and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the associated uncertainty with the variable consideration is subsequently resolved. The Group uses the expected value method to estimate the amounts of claims because this method best predicts the amount of variable consideration to which the Group will be entitled.

Under the terms of contracts, the Group’s performance creates and/or enhances the assets which the customers control during the course of work by the Group. Revenue from the provision of contracting services is therefore recognised based on the stage of completion of contracts over time using the input method. The Group normally receives progress payment from customers on a monthly basis with reference to the contract terms. The Group requires certain customers to provide upfront deposits at rates ranging from 5% to 20% of total contract sum, when the Group receives a deposit before the project commences, this will give rise to contract liabilities at the start of a contract, until the full amount of deposits is deducted proportionately from monthly progress payment.

A contract asset, net of contract liability related to the same contract, is recognised over the period in which the E&M engineering solutions and services are performed representing the Group’s right to consideration for the services performed and not billed because the rights are conditional on the Group’s future performance accepted by the customers. The contract assets are transferred to trade receivables when the rights become unconditional. The Group typically transfers its contract assets to trade receivables when progress certificate/invoice is issued.

Retention receivables, prior to the expiration of the maintenance period, are classified as contract assets, which usually ranges from one to three years from the date of the practical completion of the project. The relevant amount of contract assets is reclassified to trade receivables when the maintenance period expires, and/or the maintenance/ payment certificate is issued, and/or the final account is issued.

向客戶索償為本集團尋求向客戶收取成本補 償及原有承建合約並未載列的工程範疇的利 潤之款項。索償入賬列作可變代價並受到限 制，直至與可變代價相關的不明朗因素在往 後解決時，已確認的累計收益金額很可能不 會回撥大額收益。本集團使用預期價值法估 計索償金額，因為該方法最能預測本集團將 有權收取的可變代價金額。

根據合約的條款，本集團的表現創造及╱或 增強客戶在本集團作業過程中控制的資產。 因此，提供合約服務的收益使用輸入法隨著 時間根據完成合約的階段確認。本集團通常 參考工程合約條款每月從客戶處收取進度付 款。本集團要求若干客戶提供介乎按總合約 金額5%至20%利率計算的事先按金，而本集 團在項目開始前收到按金，這將造成於合約 開始時的合約負債，直至按金的全部金額按 比例每月從進度付款中扣減。

合約資產，扣除與相同合約相關的合約負 債，於實施機電工程解決方案及服務的期間 確認，代表本集團有權就已實施但尚未開票 的服務收取代價，因為該等權利乃取決於客 戶接納本集團未來表現。當權利變為無條件 時，合約資產轉撥至貿易應收款項。本集團 通常在發出進度證書╱發票時將其合約資產 轉撥至貿易應收款項。

於保修期屆滿前，應收保留金分類為合約資 產，通常介乎自項目實際完成日期起一至三 年。合約資產的相關金額在保修期屆滿， 及╱或保修╱付款證書已發出，及╱或最終 賬戶已發行時重新分類至貿易應收款項。

85

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Revenue recognition (continued)

Revenue from contracts with customers (continued)

• (b) Provision of E&M engineering maintenance services Revenue from the provision of E&M engineering maintenance services to the customers’ facilities is recognised over time when services are rendered during the contract period. The services are billed based on the services performed.

收益確認（續）

來自客戶合約的收益（續）

• (b) 提供機電工程保養服務 向客戶的設施提供機電工程保養服務產生收 益於合約期內服務提供的時間確認。服務乃 根據所履行的服務計費。

• (c) Provision of E&M engineering design and fabrication services Revenue from the provision of E&M engineering design and fabrication services is generated from design and fabrication services for the fabrication of made-to-order products for the customers, such as control room consoles, public access kiosks and terminals, relay racks, test rigs and also control room technical furniture and industrial enclosures and instrument cabinets without supply, installation of systems and implementation of E&M engineering solutions and services.

• (c) 提供機電工程設計及裝配服務 提供機電工程設計及裝配服務產生的收益來 自為客戶裝配按訂單製造的產品（例如控制室 控制台、公用關卡及終端、繼電器機架、試 驗台，以及控制室技術傢俬及工業外殼及儀 器櫃）的設計及裝配服務（並無供應、安裝系 統及執行機電工程解決方案及服務）。

Revenue is recognised at the point in time when control of the asset is transferred to the customer, generally on delivery of the goods to specific locations and customers obtain control of the goods.

該收益於資產控制權轉移至客戶、貨品通常 交付至指定位置及客戶獲得貨品控制權時的 時間點確認。

• (d) Sales of parts and components Revenue from the sale of parts and components is recognised at the point in time when control of the asset is transferred to the customer, generally on delivery of the goods to specific locations and customers obtain control of the materials.

• (d) 銷售零件及部件 銷售零件及部件的收益於資產控制權轉移至 客戶、貨品通常交付至指定位置及客戶獲得 材料控制權時的時間點確認。

Other income

Interest income is recognised on an accrual basis using the effective interest method by applying the rate that exactly discounts the estimated future cash receipts over the expected life of the financial instrument or a shorter period, when appropriate, to the net carrying amount of the financial asset.

其他收入

利息收入按應計基準使用實際利息法確認，當中採 用將金融工具預期年期或更短期間（如適用）內的估 計未來現金收入準確貼現至金融資產賬面淨額的利 率。

Contract assets

A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognised for the earned consideration that is conditional. Contract assets are subject to impairment assessment, details of which are included in the accounting policies for impairment of financial assets.

合約資產

合約資產乃就換取已向客戶轉移的貨品或服務而收 取代價之權利。倘本集團於客戶支付代價前或到期 付款前將貨品或服務轉移予客戶，則就附帶條件賺 取的代價確認合約資產。合約資產有待進行減值評 估，其詳情載於金融資產減值之會計政策。

Contract liabilities

A contract liability is recognised when a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognised as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services to the customer).

合約負債

合約負債於本集團將相關貨品或服務轉移前向客戶 作出收款或到期付款時（以較早者為準）確認。合約 負債於本集團履行合約（即向客戶轉移相關貨品或服 務的控制權）時確認為收益。

86 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

3. 重大會計政策概要（續）

Contract costs

Other than the costs which are capitalised as inventories and property, plant and equipment, costs incurred to fulfil a contract with a customer are capitalised as an asset if all of the following criteria are met:

合約成本

除撥充存貨以及物業、廠房及設備資本之成本外， 倘符合以下全部條件，則因履行客戶合約而產生之 成本亦撥充資產資本：

• (a) The costs relate directly to a contract or to an anticipated contract that the entity can specifically identify.

• (a) 成本與合約或實體能具體識別的預計合約直 接有關。

• (b) The costs generate or enhance resources of the entity that will be used in satisfying (or in continuing to satisfy) performance obligations in the future.

• (b) 成本為實體產生或提升資源而該資源將於日 後用於履行（或持續履行）履約責任。

• (c) The costs are expected to be recovered.

• (c) 成本預期可予收回。

The capitalised contract costs are amortised and charged to profit or loss on a systematic basis that is consistent with the pattern of the revenue to which the asset related is recognised. Other contract costs are expensed as incurred.

撥充資本的合約成本按與資產相關的收益確認模式 一致的系統化基準攤銷及於損益扣除。其他合約成 本於產生時列為開支。

Share-based payments

Share option scheme

The Company operates a share option scheme for the purpose of providing incentives and rewards to eligible participants who contribute to the success of the Group’s operations. Employees (including directors) of the Group receive remuneration in the form of share-based payments, whereby employees render services as consideration for equity instruments (“ equity-settled transactions ”).

以股份為基礎付款 購股權計劃

本公司實施購股權計劃，旨在為對本集團業務成功 作出貢獻之合資格參與者提供激勵與獎勵。本集 團僱員（包括董事）以股份為基礎付款之方式收取報 酬，而僱員提供服務作為收取股本工具之代價（「 股 權結算之交易 」）。

The cost of equity-settled transactions with employees for grants after 7 November 2002 is measured by reference to the fair value at the date at which they are granted. The fair value is determined by an external valuer using a binomial model, further details of which are given in note 34 to the consolidated financial statements.

於二零零二年十一月七日之後之與僱員進行股權結 算之交易之成本，乃參照授出日期之公允值而計 量。公允值乃由外聘估值師採用二項式模型釐定， 進一步詳情載於綜合財務報表附註34。

The cost of equity-settled transactions is recognised in employee benefit expense, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled. The cumulative expense recognised for equity-settled transactions at the end of each reporting period until the vesting date reflects the extent to which the vesting period has expired and the Group’s best estimate of the number of equity instruments that will ultimately vest. The charge or credit to profit or loss for a period represents the movement in the cumulative expense recognised as at the beginning and end of that period.

股權結算之交易的成本，連同在表現及╱或服務條 件得到履行的期間內相應增加的權益在僱員福利開 支中確認。於歸屬日期前的各報告期末，股權結算 之交易所確認的累計開支，反映了歸屬期屆滿的程 度及本集團對於最終將歸屬的股本工具數量的最佳 估計。期內於損益扣除或計入的金額，指該期初及 期末所確認的累計開支的變動。

Service and non-market performance conditions are not taken into account when determining the grant date fair value of awards, but the likelihood of the conditions being met is assessed as part of the Group’s best estimate of the number of equity instruments that will ultimately vest. Market performance conditions are reflected within the grant date fair value. Any other conditions attached to an award, but without an associated service requirement, are considered to be non-vesting conditions. Non-vesting conditions are reflected in the fair value of an award and lead to an immediate expensing of an award unless there are also service and/or performance conditions.

釐定獎勵的授出日期公允值時，不會計及服務及非 市場表現條件，但會評估達成該等條件的可能性， 作為本集團對最終將歸屬的股本工具數量的最佳估 計的一部分。市場表現條件反映於授出日期公允值 內。獎勵所附帶但並無相關服務要求的任何其他條 件視為非歸屬條件。除非有另外的服務及╱或表現 條件，否則非歸屬條件反映於獎勵的公允值內，並 將即時支銷獎勵。

87

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Share-based payments (continued)

Share option scheme (continued)

For awards that do not ultimately vest because non-market performance and/or service conditions have not been met, no expense is recognised. Where awards include a market or non-vesting condition, the transactions are treated as vesting irrespective of whether the market or non-vesting condition is satisfied, provided that all other performance and/or service conditions are satisfied.

Where the terms of an equity-settled award are modified, as a minimum an expense is recognised as if the terms had not been modified, if the original terms of the award are met. In addition, an expense is recognised for any modification that increases the total fair value of the share-based payments, or is otherwise beneficial to the employee as measured at the date of modification.

Where an equity-settled award is cancelled, it is treated as if it had vested on the date of cancellation, and any expense not yet recognised for the award is recognised immediately. This includes any award where non-vesting conditions within the control of either the Group or the employee are not met. However, if a new award is substituted for the cancelled award, and is designated as a replacement award on the date that it is granted, the cancelled and new awards are treated as if they were a modification of the original award, as described in the previous paragraph.

The dilutive effect of outstanding options is reflected as additional share dilution in the computation of earnings per share.

Shares held under the share award scheme

Where shares of the Company are gifted or purchased from the open market for the share award scheme, the fair value at the date of gifting or consideration paid, including any directly attributable incremental costs, respectively, is presented as “Shares held under the share award scheme” and deducted from equity. No gain or loss is recognised in profit or loss on the purchase, sale, issue or cancellation of the Group’s own equity instruments.

Other employee benefits

Retirement benefit schemes

The Group operates a defined contribution Mandatory Provident Fund retirement benefit scheme (the “ MPF Scheme ”) under the Mandatory Provident Fund Schemes Ordinance for those employees who are eligible to participate in the MPF Scheme. Contributions are made based on a percentage of the employees’ basic salaries and are charged to profit or loss as they become payable in accordance with the rules of the MPF Scheme. The assets of the MPF Scheme are held separately from those of the Group in an independently administered fund. The Group's employer contributions vest fully with the employees when contributed into the MPF Scheme, except for the Group's employer voluntary contributions, which are refunded to the Group when the employee leaves employment prior to the contributions vesting fully, in accordance with the rules of the MPF Scheme.

3. 重大會計政策概要（續）

以股份為基礎付款（續） 購股權計劃（續）

基於未能達成非市場表現及╱或服務條件而最終並 無歸屬的獎勵不會確認開支。倘獎勵包括市場或非 歸屬條件，交易視為歸屬，而不論市場或非歸屬條 件是否達成，惟所有其他表現及╱或服務條件須已 達成。

倘若以股權結算獎勵的條款有所更改，則在達致獎 勵原定條款的情況下，所確認的開支最少須達到猶 如條款並無任何更改的水平。此外，倘若按更改日 期計量，任何更改導致以股份基礎支付的總公允值 有所增加，或對僱員帶來其他利益，則應就該等更 改確認開支。

倘若註銷以股權結算獎勵，應被視為已於註銷日期 歸屬，任何尚未確認獎勵的開支，均應立刻確認， 包括在本集團或其僱員控制下的非歸屬條件並未達 成的任何獎勵。然而，若授予新獎勵代替已註銷的 獎勵，並於授出日期指定為替代獎勵，則已註銷的 獎勵及新報獎勵，誠如前段所述，均應被視為原獎 勵的更改。

尚未行使購股權的攤薄影響於計算每股盈利時反映 為額外股份攤薄。

根據股份獎勵計劃持有的股份

倘本公司股份為饋贈或就股份獎勵計劃從公開市場 購買，於饋贈或支付代價日期的公允值包括任何直 接應佔增加成本，呈列為「根據股份獎勵計劃持有的 股份」及自權益扣除。概無收益或虧損於購買、出 售、發行或註銷本公司自身股本工具時於損益內確 認。

其他僱員福利 退休福利計劃

根據強制性公積金計劃條例，本集團為合資格參與 強積金計劃之僱員設立定額供款之強制性公積金退 休福利計劃（「 強積金計劃 」）。供款乃按該等僱員之 基本薪金之某一百分比作出，並按強積金計劃之規 則於應付供款時自損益扣除。強積金計劃之資產由 本集團以外之獨立管理基金持有。向強積金計劃 作出供款時，本集團的僱主供款將全數歸屬僱員擁 有，惟本集團僱主的自願供款則除外，根據強積金 計劃的規則，當僱員在供款全數歸屬彼等前離職， 則僱主的自願供款將退還予本集團。

88 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

Other employee benefits (continued)

Retirement benefit schemes (continued)

The Group also operates a Mandatory Provident Fund Exempted ORSO retirement benefit scheme (the “ ORSO Scheme ”) for those employees who are eligible to participate in the ORSO Scheme. The ORSO Scheme operates in a way similar to the MPF Scheme, except that when an employee leaves the scheme prior to his/ her interest in the Group’s employer contributions vesting fully, the ongoing contributions payable by the Group are reduced by the relevant amount of the employer’s forfeited contributions.

Dividend

Final dividends are recognised as a liability when they are approved by the shareholders at the annual general meeting. Proposed final dividends are disclosed in the notes to consolidated financial statements.

Foreign currencies

These financial statements are presented in HK$, which is the Company’s functional currency. Each entity in the Group determines its own functional currency and items included in the financial statements of each entity are measured using that functional currency. Foreign currency transactions recorded by the entities in the Group are initially recorded using their respective functional currency rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency rates of exchange ruling at the end of the reporting period. Differences arising on settlement or translation of monetary items are recognised in profit or loss.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was measured. The gain or loss arising on translation of a non-monetary item measured at fair value is treated in line with the recognition of the gain or loss on change in fair value of the item (i.e., translation difference on the item whose fair value gain or loss is recognised in other comprehensive income or profit or loss is also recognised in other comprehensive income or profit or loss, respectively).

In determining the exchange rate on initial recognition of the related asset, expense or income on the derecognition of a non-monetary asset or non-monetary liability relating to an advance consideration, the date of initial transaction is the date on which the Group initially recognises the non-monetary asset or non-monetary liability arising from the advance consideration. If there are multiple payments or receipts in advance, the Group determines the transaction date for each payment or receipt of the advance consideration.

3. 重大會計政策概要（續）

其他僱員福利（續） 退休福利計劃（續）

本集團另外為合資格參與之僱員設有強制性公積金 豁免之職業退休計劃（「 職業退休計劃 」）。職業退休 計劃之運作形式與強積金計劃相似，惟當僱員在符 合資格獲得本集團全部僱主供款前退出該計劃，則 僱主之沒收供款之有關數額乃用以扣減本集團持續 應繳之供款。

股息

當末期股息於股東週年大會上獲股東批准時，末期 股息獲確認為負債。擬派末期股息於綜合財務報表 附註內披露。

外幣

本財務報表均以港元呈列，而港元乃本公司的功能 貨幣。本集團旗下各實體自行決定功能貨幣，而各 實體財務報表中包含的項目以該功能貨幣計量。本 集團實體記錄的外幣交易按交易日期適用的各自功 能貨幣匯率初步入賬。以外幣計值的貨幣資產及負 債以報告期末適用的功能貨幣匯率重新換算。所 有產生自結算或換算貨幣項目的差額一律於損益確 認。

以歷史成本按外幣計量的非貨幣項目按初步交易日 的匯率換算。以外幣按公允值計量的非貨幣項目會 使用計量公允值當日的匯率換算。換算按公允值計 量的非貨幣項目而產生的收益或虧損，按確認該項 目的公允值變動的收益或虧損一致的方法處理（即公 允值收益或虧損於其他全面收益或損益內確認的項 目，其換算差額亦分別於其他全面收益或損益內確 認）。

於釐定相關資產於初步確認，終止確認與預付代價 有關的非貨幣資產或非貨幣負債產生的開支或收入 的匯率時，初步交易日為本集團初步確認因預付代 價而產生非貨幣資產或非貨幣負債的日期。倘多次 預先支付或收取款項，本集團會就每次支付或收取 預付代價釐定交易日。

89

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

4. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES

4. 重大會計判斷及估計

The preparation of the Group’s financial statements requires management to make judgements, estimates and assumptions that affect the reported amounts of revenues, expenses, assets and liabilities, and their accompanying disclosures, and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates could result in outcomes that could require a material adjustment to the carrying amounts of the assets or liabilities affected in the future.

本集團財務報表的編製需要由管理層作出影響收 益、開支、資產及負債的呈報金額及其相關披露及 或然負債披露的判斷、估計及假設。該等假設及估 計的不明朗因素，可能導致須就日後受影響的資產 或負債的賬面值作出重大調整。

The major judgements, estimates and assumptions, that have the most significant effect on the amounts recognised in the financial statements and have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are set out below:

對於財務報表內確認的金額具有最重大影響且具有 導致下個財政年度的資產及負債賬面值出現大幅調 整的重大風險的主要判斷、估計及假設載列如下：

Contract revenue and contract costs from E&M engineering solutions and services

The Group reviews and revises the estimates of contract revenue, contract costs, variation orders and contract claims prepared for each E&M engineering solutions and services contract as the contract progresses. Budgeted engineering service costs are prepared by management on the basis of estimation of direct labour costs to incur and quotations from time to time provided by the major contractors, suppliers or vendors involved and the experience of management. In order to keep the budget accurate and up-to-date, management conducts periodic reviews of the budgets of contracts by comparing the budgeted amounts to the actual amounts incurred. Such significant estimate may have impact on the revenue recognised in each period with adjustments made on a prospective basis.

來自機電工程解決方案及服務的合約收益及合約成 本

隨著合約工程進度，本集團檢討及修訂就每一份機 電工程解決方案及服務合約編製的合約收益、合約 成本、更改工程指令及合約索償估計。工程服務成 本預算由管理層以所涉及的主要承包商、供應商或 賣方不時提供的估計產生的直接勞工成本及報價及 管理層的經驗為基礎而編製。為確保預算準確及更 新，管理層通過比較預算金額與所產生實際金額， 定期對合約預算進行檢討。有關重大估計或會對各 期間所確認的收益造成影響，按預期基準作出調 整。

Recognised amounts of E&M engineering solutions and services contracts revenue and related receivables reflect management’s best estimate of each contract’s outcome and stage of completion, which are determined on the basis of a number of estimates. This includes the assessment of the profitability of on-going E&M engineering solutions and services contracts.

機電工程解決方案及服務合約收益及相關應收款項 的已確認金額反映管理層對各合約的結果及完成階 段的最佳估計，乃基於若干估計釐定。這包括評估 持續經營之機電工程解決方案及服務合約的盈利能 力。

For more complex contracts in particular, costs to complete and contract profitability are subject to significant estimation uncertainty. The actual outcomes in terms of total cost or revenue may be higher or lower than estimated at the end of the reporting period, which would affect the revenue and profit recognised in future years as an adjustment to the amounts recorded to date with adjustments made on a prospective basis.

特別對較複雜的合約而言，完成成本及合約盈利能 力受限於重大估計不明朗因素。總成本或總收益之 實際結果可能高於或低於報告期末作出之估計，從 而將影響未來年度作為迄今記錄金額的調整而確認 之收益及溢利，按預期基準作出調整。

90 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

4. SIGNIFICANT ACCOUNTING JUDGEMENTS AND ESTIMATES (CONTINUED)

4. 重大會計判斷及估計（續）

Provision for ECLs on trade receivables and contract assets

The Group calculates ECLs for the trade receivables and contract assets. The provision rates are based on internal credit ratings of individual debtors with significant balance or as groupings of various debtors that have similar loss patterns. At every reporting date, the credit ratings are reassessed. In addition, trade receivables and contract assets with significant balances and that are credit impaired are assessed for ECLs individually.

就貿易應收款項及合約資產計提的預期信貸虧損撥 備

本集團計算貿易應收款項及合約資產預期信貸虧 損。撥備率乃根據具重大結餘的個別債務人或具有 類似虧損模式的不同債務人分組的內部信貸評級計 算。於各報告日期會重新評估信貸評級。此外，具 有重大結餘及信貸減值的貿易應收款項及合約資產 就預期信貸虧損單獨進行評估。

The provision for ECLs is sensitive to changes in estimates. The information about the Group’s trade receivables, contract assets and ECLs is disclosed in notes 16, 18 and 30 to the consolidated financial statements, respectively.

5. REVENUE AND SEGMENTAL INFORMATION

預期信貸虧損撥備受到估計變動的影響。有關本集 團貿易應收款項、合約資產及預期信貸虧損的資料 分別披露於綜合財務報表附註16、附註18及附註 30。

5. 收益及分部資料

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

本集團的收益分析如下：

			2020	2019
			二零二零年	二零一九年
			HK$’000	HK$’000
			千港元	千港元
Revenue from contracts with customers		來自客戶合約的收益
E&M engineering solutions and services		機電工程解決方案及服務	184,501	173,011
E&M engineering maintenance services		機電工程保養服務	34,354	28,399
E&M engineering design and fabrication services		機電工程設計及裝配服務	4,434	8,282
Sales of parts and components		銷售零件及部件	939	904
			224,228	210,596
(a)	Disaggregated revenue information	(a)	分拆收益資料
			2020	2019
			二零二零年	二零一九年
			HK$’000	HK$’000
			千港元	千港元
	By timing of revenue recognition:	按收益確認時間：
	Transferred at a point in time	於某個時間點轉移	5,373	9,186
	Transferred over time	隨著時間轉移	218,855	201,410
	Total revenue from contracts with customers	來自客戶合約的收益總額	224,228	210,596

高萌科技集團有限公司 • 二零一九/ 二零年年報 91

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

5. REVENUE AND SEGMENTAL INFORMATION 5. 收益及分部資料（續） (CONTINUED)

(b) Performance obligations The amounts of transaction prices allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at the end of the reporting period are as follows:

• （b） 履約責任

於報告期末，分配至剩餘履約責任（未履約或 部份未履約）的交易價格金額如下：

2020 二零二零年 Within one year 一年內 More than one year 一年以上 2019 二零一九年 Within one year 一年內 More than one year 一年以上	E&M engineering solutions and services E&M engineering maintenance services Others 機電工程 解決方案及服務 機電工程 保養服務 其他 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元
	214,989 34,037 5,254 128,601 28,956 –
	343,590 62,993 5,254
	E&M engineering solutions and services E&M engineering maintenance services Others 機電工程 解決方案及服務 機電工程 保養服務 其他 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元
	193,675 28,860 2,208 57,374 43,103 –
	251,049 71,963 2,208

Segment information

The Group’s operation is derived from E&M engineering solutions and services, and E&M engineering maintenance services with focus on (i) the automatic fare collection system at railway stations; (ii) the electronic payment and ticketing system; (iii) the road and tunnel toll collection system; (iv) the traffic control and surveillance system; and (v) the railway signaling communication and control system, E&M engineering design and fabrication services, as well as sales of parts and components during both years. For the purposes of resource allocation and performance assessment, the chief operation decision maker (i.e. the executive directors of the Company) reviews the overall results and financial position of the Group as a whole. Accordingly, the Group has only one single operating segment and no separate analysis of this single segment is presented other than entity-wide disclosure.

分部資料

於兩個年度內，本集團的經營來自機電工程解決方 案及服務及機電工程保養服務，專注於(i)鐵路車站的 自動收費系統；(ii)電子支付及票務系統；(iii)公路及 隧道車輛繳費系統；(iv)交通管制及監察系統；及(v) 軌道信號通訊及控制系統，機電工程設計及裝配服 務以及銷售零件及部件。就資源分配及表現評估而 言，主要經營決策者（即本公司執行董事）審閱本集 團的整體業績及財務狀況。因此，本集團僅有一個 單一經營分部及除實體範圍內的披露外，並無呈列 該單一分部的單獨分析。

92 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

5. REVENUE AND SEGMENTAL INFORMATION 5. 收益及分部資料（續） (CONTINUED)

Geographical information

The Group’s revenue from external customers based on the place of operation of customers and non-current assets by jurisdictions based on the location of the assets are detailed below:

地區資料

本集團來自外部客戶（基於客戶營運所在地）的收益 及按司法權區（基於資產所在位置）劃分的非流動資 產詳述如下：

Hong Kong 香港 Taiwan 台灣 Singapore 新加坡 Canada 加拿大 Others 其他	Revenue Non-current assets 收益 非流動資產 2020 2019 2020 2019 二零二零年 二零一九年 二零二零年 二零一九年 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 (note) (note) （附註） （附註）
	219,468 198,953 14,660 2,924 3,482 3,789 – – – 1,784 – – 207 2,933 – – 1,071 3,137 – –
	224,228 210,596 14,660 2,924

Note: Non-current assets comprise property, plant and equipment and right-ofuse assets.

附註： 非流動資產包括物業、廠房及設備以及使用權資產。

Information about major customers

Revenue from customers of the corresponding years contributing over 10% to the total revenue of the Group are as follows:

有關主要客戶的資料

於相應年度佔本集團總收益10%以上之客戶收益如 下：

Customer A 客戶A	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	143,812 139,073

Other than disclosed above, there was no revenue from customers individually contributing over 10% to the total revenue of the Group during the years ended 31 March 2020 and 2019.

除上文所披露者外，於截至二零二零年及二零一九 年三月三十一日止年度，概無來自單一客戶的收益 佔本集團總收益10%以上。

高萌科技集團有限公司 • 二零一九/ 二零年年報 93

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

6. OTHER INCOME AND GAIN AND LOSS, NET

6. 其他收入及收益以及虧損淨額

Other income

其他收入

Bank interest income 銀行利息收入 Government subsidies (note) 政府補助（附註） Interest income from life insurance products 人壽保險產品的利息收入 Sundry income 雜項收入	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	938 854 50 263 173 – 234 113
	1,395 1,230

Note: The government subsidies represent the Anti-epidemic Fund Subsidy received from the Government of the Hong Kong Special Administrative Region (the “ HKSAR ”) (2019: subsidies received from the Government of the HKSAR for the Group’s participation in Youth Employment and Training Programme, which was initiated by the Labour Department of the HKSAR).

附註： 政府補助指收取香港特別行政區（「 香港特區 」）政府的抗 擊疫情資金補助（二零一九年：就本集團參加香港特區 勞工處發起的青年就業及培訓計劃收取香港特區政府的 補助）。

Other gain and loss, net

其他收益及虧損淨額

Gain on disposal of property, plant and equipment 出售物業、廠房及 設備收益 Net foreign exchange loss 外匯虧損淨額 FINANCE COSTS 7. 融資成本	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	185 4 (45) (137)
	140 (133)

7. FINANCE COSTS

An analysis of finance costs is as follows: 融資成本分析如下：

Interest on a bank loan 銀行貸款之利息 Interest on lease liabilities 租賃負債之利息	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	35 – 124 –
	159 –

94 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

8. DIRECTORS’ AND EMPLOYEES’ EMOLUMENTS

8. 董事及僱員薪酬

(a) Directors’ and chief executive’s emoluments Directors’ remuneration for the year, disclosed pursuant to the GEM Listing Rules, section 383(1)(a), (b), (c) and (f) of the Hong Kong Companies Ordinance and Part 2 of the Companies (Disclosure of Information about Benefits of Directors) Regulation, is as follows:

• (a) 董事及主要行政人員薪酬

根據GEM上市規則、香港公司條例第383(1) (a)、(b)、(c)及(f)條及公司（披露董事利益資料） 規例第2部，年內董事薪酬披露如下。

Year ended 31 March 2020 截至二零二零年三月三十一日止年度 Mr. Luk Kam Ming (“Mr. KM Luk”) 陸鑑明先生（「陸鑑明先生」） Mr. Luk Kwai Lung 陸季農先生 Mr. Luk Yin Cheung 陸彥彰先生 Mr. Chan Chak Lun Philip 陳澤麟先生 Mr. Lau On Kwok 劉安國先生 Mr. Law Wing Chi Stephen 羅永志先生 Dr. Tse Chi Kong 謝智剛博士 Year ended 31 March 2019 截至二零一九年三月三十一日止年度 Mr. KM Luk 陸鑑明先生 Mr. Luk Kwai Lung 陸季農先生 Mr. Luk Yin Cheung 陸彥彰先生 Mr. Chan Chak Lun Philip 陳澤麟先生 Mr. Lau On Kwok 劉安國先生 Mr. Law Wing Chi Stephen 羅永志先生 Dr. Tse Chi Kong 謝智剛博士	Fees Salaries and allowances Performance bonus Retirement benefit scheme contributions Equity-settled share option expenses Total 袍金 薪金及津貼 表現花紅 退休福利 計劃供款 權益結算 購股權開支 總額 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 (note) （附註）
	– 1,068 – – – 1,068 60 604 33 28 – 725 56 547 40 26 – 669 60 1,200 70 96 264 1,690 144 – – – – 144 144 – – – – 144 144 – – – – 144
	608 3,419 143 150 264 4,584
	– 1,068 – – – 1,068 60 580 30 18 – 688 60 557 41 18 – 676 60 1,170 96 93 521 1,940 144 – – – – 144 144 – – – – 144 144 – – – – 144
	612 3,375 167 129 521 4,804

Note: Performance bonus is determined by reference to the duties and responsibilities of the relevant individual s within the Group and the Group’s performance.

附註： 表現花紅乃參考本集團內有關個人的職責及責 任以及本集團的表現後釐定。

The emoluments of executive directors were for their services in connection with the management of the affairs of the Company and the Group.

執行董事薪酬乃就彼等管理本公司及本集團 事務提供之服務而發出。

The emoluments of the independent non-executive directors were for their services as directors of the Company.

獨立非執行董事薪酬乃就彼等作為本公司董 事提供之服務而發出。

During the years ended 31 March 2020 and 2019, no remuneration was paid by the Group to the directors of the Company as an inducement to join or upon joining the Group or as compensation for loss of office. None of the directors of the Company have waived any remuneration during the years ended 31 March 2020 and 2019.

於截至二零二零年及二零一九年三月三十一 日止年度，本集團並無向本公司董事支付薪 酬作為吸引彼等加入或於加入本集團時的獎 勵或作為離職賠償。於截至二零二零年及二 零一九年三月三十一日止年度，概無本公司 董事放棄任何薪酬。

95

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

8. DIRECTORS’ AND EMPLOYEES’ EMOLUMENTS 8. 董事及僱員薪酬（續） (CONTINUED)

(b) Employees’ emoluments

(b) 僱員薪酬

The five highest paid individuals included two (2019: two) 五名最高薪人士包括於截至二零二零年及二 directors of the Company whose emoluments are included 零一九年三月三十一日止年度酬金計入上文 in the disclosures in (a) above for the years ended 31 March (a)披露中的本公司兩名（二零一九年：兩名） 2020 and 2019. The emoluments of the remaining three 董事。於截至二零二零年及二零一九年三月 (2019: three) individuals for the years ended 31 March 2020 三十一日止年度，其餘三名（二零一九年：三 and 2019 were as follows: 名）人士的薪酬如下：

Salaries and other benefits 薪金及其他福利 Performance bonus (note) 表現花紅（附註） Equity-settled share option expenses 權益結算購股權開支 Retirement benefit scheme contributions 退休福利計劃供款	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	2,413 2,443 192 80 373 – 107 54
	3,085 2,577

Note: Performance bonus is determined by reference to the duties and responsibilities of the relevant individual s within the Group and the Group’s performance.

附註：表現花紅乃參考本集團內有關個人的職責及責任 以及本集團的表現後釐定。

Their emoluments were within the following bands:

彼等的薪酬在以下範圍之內：

Nil to HK$1,000,000 零至1,000,000港元 HK$1,000,001 to HK$1,500,000 1,000,001港元至1,500,000港元	2020 2019 二零二零年 二零一九年 No. of individuals No. of individuals 人數 人數
	2 3 1 –
	3 3

During the years ended 31 March 2020 and 2019, no emoluments were paid by the Group to the five highest paid individuals as an inducement to join or upon joining the Group or as compensation for loss of office.

於截至二零二零年及二零一九年三月三十一 日止年度，本集團並無向五名最高薪人士支 付薪酬，作為吸引彼等加入或加入本集團後 的獎勵或作為離職補償。

96 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

9. PROFIT BEFORE TAX

9. 除稅前溢利

The Group’s profit before tax is arrived at after charging/(crediting):

本集團除稅前溢利經扣除╱（計入）以下各項後達 致：

Notes 附註 Auditor’s remuneration 核數師薪酬 Depreciation of property, plant and equipment 物業、廠房及設備折舊 13 Depreciation of right-of-use assets 使用權資產折舊 14 Directors’ remuneration 董事酬金 8 Employee benefit expenses (excluding directors’ and chief executive’s remuneration (note 8)) 僱員福利開支（不包括董事及 主要行政人員的薪酬 （附註8）） Salaries and other benefits 薪金及其他福利 Retirement benefit scheme contributions 退休福利計劃供款 Equity-settled share option expenses 權益結算購股權開支 Total employee benefit expenses 僱員福利開支總額 Cost of sales 銷售成本 – E&M engineering solutions and services －機電工程解決方案及服務 – Others －其他 Minimum lease payments under operating leases 經營租賃項下之最低租賃付款 Lease payments not included in the measurement of lease liabilities 並不計入租賃負債計量之租賃 付款 Net foreign exchange loss 匯兌虧損淨額 6 Fair value loss on financial assets at fair value through profit or loss 按公允值計入損益的金融資產 之公允值虧損 29 Gain on disposal of property, plant and equipment 出售物業、廠房及設備之收益 6	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	1,650 1,200 1,618 1,195 5,596 – 4,584 4,804 68,980 68,414 2,779 2,704 581 645
	72,340 71,763
	126,578 117,646 26,319 26,874 – 5,777 86 – 45 137 1,207 – (185) (4)

97

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

10. INCOME TAX EXPENSE

10. 所得稅開支

Current – Hong Kong 即期－香港 Charge for the year 年內開支 Underprovision in prior years 過往年度撥備不足 Deferred (note 22) 遞延（附註22） Total tax expense for the year 本年度稅項開支總額	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	4,527 4,259 252 – 144 (40)
	4,923 4,219

Hong Kong profits tax has been provided at the rate of 16.5% (2019: 16.5%) on the estimated assessable profits arising in Hong Kong during the year, except for one subsidiary of the Group which is a qualifying entity under the two-tiered profits tax rates regime effective from the year of assessment 2018/19. The first HK$2,000,000 (2019: HK$2,000,000) of assessable profits of this subsidiary is taxed at 8.25% and the remaining assessable profits are taxed at 16.5%.

香港利得稅已按年內於香港產生的估計應課稅溢利 按16.5％（二零一九年：16.5％）的稅率計提撥備， 惟本集團旗下一間附屬公司符合在二零一八╱一九 課稅年度起生效的兩級利得稅稅率制度除外。該附 屬公司首2百萬港元（二零一九年：2百萬港元）的應 課稅溢利按8.25％的稅率徵稅，其餘應課稅溢利稅 率為16.5％。

The Group is not subject to any income tax in the Cayman Islands and the BVI pursuant to the rules and regulations in those jurisdictions.

根據於開曼群島及英屬處女群島的規則及規例，本 集團於該等司法權區無須繳納任何所得稅。

The tax charge for both years can be reconciled to the profit before tax as follows:

於兩個年度的稅項開支可與除稅前溢利對賬如下：

Profit before tax 除稅前溢利 Tax at the statutory tax rate of 16.5% 按法定所得稅率16.5%計算之稅項 Income tax at the concessionary rate 按優惠稅率課稅的所得稅 One-off tax reduction (note) 一次性稅項減免（附註） Adjustments in respect of current tax of previous periods 有關過往期間即期稅項的調整 Income not subject to tax 毋須納稅之收入 Expenses not deductible for tax 不可扣稅開支 Tax charge for the year 本年度稅項開支	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	26,535 23,474
	4,378 3,873 (165) (165) – (40) 252 – (184) (141) 642 692
	4,923 4,219

Note: The amount represents the one-off reduction of profits tax for both years proposed by the Financial Secretary of the HKSAR.

11. DIVIDEND

附註： 該款項指香港特區財政司司長建議兩個年度之一次性溢 利減免。

11. 股息

The final dividend of HK2.0 cents per share in respect of the year ended 31 March 2020 has been proposed by directors and is subject to approval at the forthcoming annual general meeting.

董事已建議派付截至二零二零年三月三十一日止年 度末期股息每股2.0港仙，須待於應屆股東週年大會 上批准後方可作實。

98 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

12. EARNINGS PER SHARE ATTRIBUTABLE TO ORDINARY EQUITY HOLDERS OF THE COMPANY

12. 本公司普通股權益持有人應佔每股盈利

The calculation of the basic earnings per share amount for the year ended 31 March 2020 is based on the profit for the year attributable to owners of the Company of HK$21,612,000 (2019: HK$19,255,000), and the weighted average number of ordinary shares in issue less treasury shares held under share award scheme during the year of 399,849,000 (2019: 400,000,000).

截至二零二零年三月三十一日止年度每股基本盈利 金額乃根據本公司擁有人應佔年內溢利21,612,000 港元（二零一九年：19,255,000港元），以及年內已 發行普通股加權平均數減根據股份獎勵計劃持有的 庫存股份399,849,000股（二零一九年：400,000,000 股）計算。

No adjustment has been made to the basic earnings per share amount presented for the years ended 31 March 2020 and 2019 in respect of a dilution as the impact of the share options outstanding had no dilutive effect on the basic earnings per share amount presented.

13. PROPERTY, PLANT AND EQUIPMENT

由於尚未行使的購股權對所呈列每股基本盈利金額 並無攤薄影響，故概無就攤薄對截至二零二零年及 二零一九年三月三十一日止年度所呈列的每股基本 盈利金額作出調整。

13. 物業、廠房及設備

Cost: 成本： As at 1 April 2018 於二零一八年四月一日 Additions 添置 Disposals 出售 As at 31 March 2019 and 1 April 2019 於二零一九年三月三十一日及 二零一九年四月一日 Additions 添置 Transfer 轉撥 Disposals 出售 As at 31 March 2020 於二零二零年三月三十一日 Accumulated depreciation: 累計折舊： As at 1 April 2018 於二零一八年四月一日 Provided during the year 年內撥備 Disposals 出售 As at 31 March 2019 and 1 April 2019 於二零一九年三月三十一日及 二零一九年四月一日 Provided during the year 年內撥備 Transfer 轉撥 Disposals 出售 As at 31 March 2020 於二零二零年三月三十一日 Net carrying values: 賬面淨值： As at 31 March 2020 於二零二零年三月三十一日 As at 31 March 2019 於二零一九年三月三十一日	Leasehold improvements Furniture and fixtures Plant and machinery Computer equipment Motor vehicles Cruiser Total 租賃物業裝修 傢俬及 固定裝置 廠房及機器 電腦設備 汽車 小型快艇 總計 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
	1,651 838 4,799 6,850 2,263 364 16,765 307 19 412 83 – – 821 – – (2,256) (110) (27) – (2,393)
	1,958 857 2,955 6,823 2,236 364 15,193 1,069 56 236 985 2,423 – 4,769 (213) 62 151 – – – – – – (102) – (700) (364) (1,166)
	2,814 975 3,240 7,808 3,959 – 18,796
	748 595 3,905 6,083 1,976 146 13,453 134 185 349 302 152 73 1,195 – – (2,256) (96) (27) – (2,379)
	882 780 1,998 6,289 2,101 219 12,269 259 186 366 288 477 42 1,618 (5) 2 3 – – – – – – (103) – (700) (261) (1,064)
	1,136 968 2,264 6,577 1,878 – 12,823
	1,678 7 976 1,231 2,081 – 5,973
	1,076 77 957 534 135 145 2,924

高萌科技集團有限公司 • 二零一九/ 二零年年報 99

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

14.	LEASES	LEASES			14.	租賃
	The	Group has lease contracts as lessees for several properties.				本集團作為若干物業的承租人訂立租賃合約。物業
	Leases of the properties generally have lease terms between 1				and	租賃之租賃期限一般為1至3年。
	3 years.
	(a)	Right-of-use assets				(a)	使用權資產
		The	carrying amounts of the Company’s right-of-use assets				本公司使用權資產的賬面值及年內變動如
		and	the movements during the year are as follows:				下：
									Properties
									物業
									HK$’000
									千港元
		At 1	April 2019	於二零一九年四月一日					5,728
		Additions		添置					8,555
		Depreciation charge		折舊費用					(5,596)
		At 31 March 2020		於二零二零年三月三十一日					8,687
	(b)	Lease liabilities				(b)	租賃負債
		(i)	The carrying amount of lease liabilities and		the		(i)	租賃負債的賬面值及年內變動如下：
			movements during the year are as follows:
									HK$’000
									千港元
			Carrying amount at 1 April 2019		於二零一九年四月一日之賬面值				5,728
			New leases		新租賃				8,555
			Accretion of interest recognised during the year		年內確認之應計利息				124
			Payments		付款				(5,706)
			Carrying amount at 31 March 2020		於二零二零年三月三十一日之賬面值				8,701
			Analysed into:		分析：
			Current portion		流動部分				5,611
			Non-current portion		非流動部分				3,090
									8,701
			The maturity analysis of lease liabilities is disclosed in					租賃負債之到期情況分析於綜合財務報
			note 30 to the consolidated financial statements.					表附註30披露。
		(ii)	The amounts recognised in profit or loss for the year				(ii)	於截至二零二零年三月三十一日止年度
			ended 31 March 2020 in relation to leases are as					就該等租賃而於損益確認之金額如下：
			follows:
									HK$’000
									千港元
			Interest charge on lease liabilities		租賃負債之利息費用				124
			Depreciation charge of right-of-use assets		使用權資產之折舊費用				5,596
			Expense relating to short-term leases and other		與短期租賃及其他租賃有關且餘下租期
			leases with remaining lease terms ended on		於二零二零年三月三十一日或之前結束
			or before 31 March 2020 (included in		的開支（計入行政開支內）
			administrative expenses)						86
			Total amount recognised in profit or loss		於損益確認的總金額				5,806

100 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

14. LEASES (CONTINUED)

(b) Lease liabilities (continued)

(ii) (continued)

The total cash outflow for leases is disclosed in note 32 to the consolidated financial statements.

14. 租賃（續）

(b) 租賃負債（續） (ii) （續） 租賃的現金流出總額於綜合財務報表附 註32內披露。

15. FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS

15. 按公允值計入損益的金融資產

Unlisted investments, at fair value

非上市投資（按公允值）	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	5,181 –

The above unlisted investments at 31 March 2020 were the deposits paid for life insurance products issued by a bank in Hong Kong. They were classified as financial assets at fair value through profit or loss as their contractual cash flows are not solely payments of principal and interest.

The life insurance products were entered by the Group’s subsidiary, KML Engineering with an insurance company on Mr. Chan Chak Lun Philip and Mr. Luk Yin Cheung, respectively into two life insurance policies in June 2019. Under the policies, the beneficiary and policy holder is KML Engineering. KML Engineering is required to pay a single premium for the policies. KML Engineering may request a partial surrender or full surrender of the policies at any time and receive cash back based on the value of the policies at the date of surrender, which is determined by the account value net of any surrender charge (the “ Cash Value ”). The policy premium expense, insurance charges and surrender charges are recognised in profit or loss. The life insurance policies carry guaranteed interests of 4.25% per annum at first year, and a minimum guaranteed interest of 2.00% per annum at the second year and onwards.

於二零二零年三月三十一日，上述非上市投資為就 香港一家銀行發行的人壽保險產品已支付的按金。 該等產品被分類為按公允值計入損益的金融資產， 原因為彼等的合約現金流量並非僅為支付本金及利 息。

本集團附屬公司高明科技工程於二零一九年六 月與一間保險公司分別就陳澤麟先生及陸彥彰 先生簽訂兩份人壽保險保單。根據該等保單， 高明科技工程為受益人及保單持有人。高明 科技工程需就該等保單一次性支付保險費。 高明科技工程可隨時要求部分退保或全部退 保及於退保當日按照保單價值收回現金，有 關現金乃根據賬戶價值扣除任何退保費釐定 （「 現金價值 」）。保單保費、保險費及退保費均於損 益內確認。人壽保險單於首個年度按保證年利率 4.25%計息，自第二年起，按最低保證年利率2.00% 計息。

The Cash Value of the deposit paid for the life insurance policies, which is considered a close estimate to the fair value, was HK$5,181,000 as at 31 March 2020, determined by reference to the Cash Value as provided by the insurance company. The fair value of the Group’s insurance policies was measured using significant unobservable inputs (Level 3 of fair value hierarchy) as defined in HKFRS 13.

就人壽保險保單已付按金的現金價值被視為公平 值的貼近估計值，於二零二零年三月三十一日為 5,181,000港元，乃參考保險公司提供的現金價值釐 定。本集團的保險保單的公允值採用香港財務報告 準則第13號界定的重大不可觀察輸入數據（公允值層 級第三級）計量。

The aggregate carrying amounts of HK$5,181,000 as at 31 March 2020 were pledged as security for a bank facility of the Group and the entire balance of the life insurance products is denominated in United States Dollars (" USD ").

於二零二零年三月三十一日，賬面總值5,181,000港 元已抵押作為本集團銀行融資的抵押品，且人壽保 險產品的全部結餘以美元（「 美元 」）列值。

高萌科技集團有限公司 • 二零一九/ 二零年年報 101

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

16. TRADE RECEIVABLES

16. 貿易應收款項

The Group grants credit terms of 30 to 60 days to its customers from the date of invoices on progress billings of contract and maintenance works and sales of goods. An ageing analysis of the trade receivables is presented based on the invoice date at the end of the reporting period.

本集團自合約及維修工程進度款項發票日期及銷售 貨品起向其客戶授出30日至60日的信貸期。於報告 期末基於發票日期呈列貿易應收款項賬齡分析。

0-30 days 0至30日 31-60 days 31至60日 61-90 days 61至90日 Over 90 days 超過90日 Less: Accumulated loss allowance 減：累計虧損撥備 Total 總計	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	21,943 12,968 17,403 16,339 3,350 7,934 3,286 4,022
	45,982 41,263 (317) (117)
	45,665 41,146

The Group’s trading terms with its customers are mainly on credit, except for new customers, where payment in advance is normally required. Each customer has a maximum credit limit. The Group seeks to maintain strict control over its outstanding receivables and has a credit control department to minimise credit risk. Overdue balances are reviewed regularly by senior management. In view of the aforementioned and the fact that the Group’s trade receivables relate to a large number of diversified customers, there is no significant concentration of credit risk. Trade receivables are noninterest-bearing.

本集團與其客戶之貿易條款主要以信貸形式進行， 惟新客戶一般需預先付款除外。每位客戶均有最大 信貸限額。本集團務求對未清還之應收款項維持嚴 格監管並設有信貸控制部門以將信貸風險減至最 低。高級管理層定期檢討逾期結餘。鑒於上述及本 集團貿易應收款項涉及大量分散客戶之事實，故並 無重大集中信貸風險。貿易應收款項為不計息款 項。

102 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

16. TRADE RECEIVABLES (CONTINUED)

As at 31 March 2020, included in the Group’s trade receivable balances were customers with an aggregate carrying amount of HK$16,691,000 (2019: HK$15,389,000) which were past due as at the reporting date. Out of the past due balances, HK$1,733,000 (2019: HK$2,763,000) has been past due more than 90 days and was not considered as in default. The Group rebutted the presumption of default under the expected credit loss model for trade receivables past due over 90 days assuming no significant change in credit quality after having an understanding of those customers’ background as well as the good payment records and continuous business relationship with those customers. Further, such long outstanding balances were primarily due to overdue payment which was a common practice in E&M engineering solutions and services and was prolonged by the internal procedures of the relevant customers. The Group did not hold any collateral over these balances.

Details of impairment of trade receivables for the year ended 31 March 2020 were set out in note 30 to the consolidated financial statements. The ECLs for trade receivables as at 31 March 2020 and 31 March 2019 were HK$317,000 and HK$117,000, respectively.

As at 31 March 2020, trade receivables of HK$1,234,000 (2019: HK$219,000) were denominated in USD. As at 31 March 2019, trade receivables of HK$1,553,000 were denominated in Singapore Dollars (“ SGD ”). The remaining balances are denominated in HK$.

16. 貿易應收款項（續）

於二零二零年三月三十一日，本集團貿易應收款 項包括賬面值為16,691,000港元（二零一九年： 15,389,000港元）的應收客戶款項，該款項於報告期 日已逾期。該等逾期結餘中，1,733,000港元（二零 一九年：2,763,000港元）已逾期超過90天及並未被 視為違約。本集團在了解該等客戶的背景以及與該 等客戶的良好支付記錄及持續業務關係後，假設信 貸質素並無重大變動，推遲逾期90天的貿易應收款 項逾期信貸虧損模式下的違約退訂。此外，長期為 償還結餘主要由於機電工程解決方案及服務的常見 慣例及相關客戶延長內部程序。本集團並無就該等 結餘持有任何抵押品。

截至二零二零年三月三十一日止年度，貿易應收款 項減值之詳情載於綜合財務報表附註30。於二零 二零年三月三十一日及二零一九年三月三十一日的 貿易應收款項預期信貸虧損分別為317,000港元及 117,000港元。

於二零二零年三月三十一日，貿易應收款項中 1,234,000港元（二零一九年：219,000港元）以美元 列值。於二零一九年三月三十一日，貿易應收款項 中1,553,000港元以新加坡元（「 新加坡元 」）列值。餘 下結餘以港元列值。

103

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

17. OTHER RECEIVABLES, DEPOSITS AND PREPAYMENTS

17. 其他應收款項、按金及預付款項

Non-current: 非即期： Deposits paid for purchase of property, plant and equipment 購買物業、廠房及設備已付按金 Other deposits 其他按金 Current: 即期： Advances to suppliers 墊款予供應商 Prepayments 預付款項 Interest receivables 利息應收款項 Others 其他 Total 總計	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	– 994 1,145 881
	1,145 1,875
	7,163 3,764 1,850 921 107 168 132 600
	9,252 5,453
	10,397 7,328

None of the above assets is either past due or impaired. The financial assets included in the above balances relate to receivables for which there was no recent history of default. Their related ECLs consideration are set out in note 30 to the consolidated financial statements.

上述資產概無逾期亦無減值。計入上述結餘之金融 資產與並無近期違約記錄之應收款項有關。相關預 期信貸虧損載於綜合財務報表附註30。

18. CONTRACT ASSETS

18. 合約資產

E&M engineering solutions and services 機電工程解決方案及服務 E&M engineering maintenance services 機電工程保養服務 Others 其他 Total 總計	31 March 2020 31 March 2019 1 April 2018 二零二零年 三月三十一日 二零一九年 三月三十一日 二零一八年 四月一日 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元
	62,381 49,320 42,420 744 – – – 13 1,567
	63,125 49,333 43,987

104 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

18. CONTRACT ASSETS (CONTINUED)

18. 合約資產（續）

A contract asset, net of contract liability related to the same contract, is recognised over the period in which the engineering services are performed, representing the Group’s right to consideration for the services performed and not billed because the rights are conditional on the Group’s future performance accepted by the customers. The contract assets are transferred to trade receivables when the rights become unconditional. The Group typically transfers its contract assets to trade receivables when progress certificate/invoice is issued. The Group generally provides their customers with one to three years maintenance period from the date of the practical completion of the project. Upon the expiration of the maintenance period, the customers will provide a maintenance certificate and pay the retentions within the term specified in the contract. The increase in contract assets in 2020 and 2019 was the result of the increase in the provision of engineering services at the end of each of the years.

合約資產，扣除與相同合約相關的合約負債，於實 施工程服務的期間確認，代表本集團有權就已實施 但尚未開票的服務收取代價，因為該等權利乃取決 於客戶接納本集團未來表現。當條件變為無條件 時，合約資產轉撥至貿易應收款項。本集團通常在 發出進度證書╱收據時將其合約資產轉撥至貿易應 收款項。本集團通常向其客戶提供自項目實際完成 日期起計一至三年的保修期。於保修期屆滿後，客 戶將提供保修證書及於合約指定的期限內支付保留 金。於二零二零年及二零一九年合約資產增加乃因 於各年度末提供工程服務增加所致。

The expected timing of recovery or settlement for contract assets as at 31 March is as follows:

於三月三十一日，合約資產的預期收回或結算時間 如下：

Within one year 一年內 After one year 一年後 Total contract assets 合約資產總值	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	61,573 49,333 1,552 –
	63,125 49,333

An impairment analysis is performed at each reporting date to measure expected credit losses. The provision rates for the measurement of the expected credit losses for the contract assets are based on those for the trade receivables as the contract assets and the trade receivables are from the same customer bases. The provision rates of contract assets are based on days past due of trade receivables for groupings of various customer segments with similar loss patterns (i.e., by customer type and rating). The Group applies the simplified approach to provide for the ECLs prescribed by HKFRS 9. Reversal of loss allowance of HK$87,000 (2019: loss allowance of HK$93,000) was recognised during the year. Details of impairment of contract assets for the years ended 31 March 2020 and 2019 were set out in note 30 to the consolidated financial statements.

於各報告日進行減值分析以計量預期信貸虧損。計 量合約資產預期信貸虧損的撥備率乃基於該等貿易 應收款項，原因為合約資產及貿易應收款項來自同 一客戶基礎。合約資產的撥備率乃基於具類似虧損 模式的各個客戶分部組別（即按客戶類型及評級劃 分）的貿易應收款項逾期天數。根據香港財務報告準 則第9號的規定，本集團應用簡化方法以計提預期信 貸虧損。年內已確認虧損撥備撥回87,000港元（二零 一九年：虧損撥備93,000港元）。截至二零二零年及 二零一九年三月三十一日止年度之合約資產的減值 詳情載於綜合財務報表附註30。

高萌科技集團有限公司 • 二零一九/ 二零年年報 105

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

19. 合約負債

19. CONTRACT LIABILITIES E&M engineering solutions and services 機電工程解決方案及服務 E&M engineering maintenance services 機電工程保養服務 Others 其他 Total 總計	31 March 2020 31 March 2019 1 April 2018 二零二零年 三月三十一日 二零一九年 三月三十一日 二零一八年 四月一日 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 19. 合約負債
	31,354 17,029 21,022 108 99 – – 17 –
	31,462 17,145 21,022

The Group requires certain customers under engineering service contracts to provide upfront deposits at rates ranging from 5% to 20% of the total contract sum, when the Group receives a deposit before the project commences, this will give rise to contract liabilities at the start of a contract, until the full amount of the deposit is deducted proportionately from progress payment. The increase in contract liabilities in 2020 and 2019 was mainly due to the increase in short-term advances received from customers in relation to the provision of engineering services at the end of the years.

本集團根據工程服務合約要求若干客戶提供事前按 金，金額按介乎總合約金額的5%至20%的利率計 算，當本集團在項目開始前收到按金，這將在合約 開始產生合約負債，直至按金的全部金額自進度付 款按比例扣除。二零二零年及二零一九年合約負債 增加主要由於已收客戶有關於年末提供工程服務的 短期墊款增加所致。

106 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

20. TIME DEPOSITS WITH ORIGINAL MATURITY OVER THREE MONTHS/PLEDGED BANK DEPOSITS/BANK BALANCES AND CASH

20. 原到期日超過三個月的定期存款╱有抵押銀行存 款╱銀行結餘及現金

As at 31 March 2020, bank balances and cash comprise cash held by the Group and bank deposits carry interest at market rates which range from 0.01% to 1.61% per annum with original maturity of three months or less.

於二零二零年三月三十一日，銀行結餘及現金包括 本集團所持現金及原到期日為三個月或以下銀行存 款按介乎0.01%至1.61%的市場年利率計息。

As at 31 March 2020, pledged bank deposits represented deposits pledged to a bank to secure a bank facility granted by a bank to the Group, carried fixed interest rates ranging from 1.64% to 1.94% per annum.

於二零二零年三月三十一日，有抵押銀行存款指抵 押予銀行以為銀行向本集團授出的銀行融資作抵 押，按固定年利率介於1.64%至1.94%計息。

As at 31 March 2020, time deposits with original maturity over three months carry fixed interest rates ranging from 1.26% to 2.56% per annum.

於二零二零年三月三十一日，原到期日超過三個月 的定期存款包括固定年利率介乎1.26%至2.56%的銀 行存款。

At the end of the reporting period, the carrying amount of the Group’s time deposits with original maturity over three months, pledged bank deposits and bank balances and cash are denominated in the following currencies:

於報告期末，本集團以下列貨幣計值的原到期超過 三個月的定期存款、有抵押銀行存款及銀行結餘及 現金的賬面值：

HK$ 港元 Euro (“EUR”) 歐元（「歐元」） Renminbi (“RMB”) 人民幣（「人民幣」） USD 美元 Other currencies 其他貨幣	As at 31 March 於三月三十一日 2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	86,148 82,365 1,671 895 2,656 2,731 6,443 1,217 126 613
	97,044 87,821

高萌科技集團有限公司 • 二零一九/ 二零年年報 107

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

21. TRADE AND OTHER PAYABLES

21. 貿易及其他應付款項

Trade and retention payables (note (a)) 貿易應付款項及應付保留金（附註(a)） Other payables and accrued charges (note (b)) 其他應付款項及應計費用（附註(b)） Total trade and other payables and accrued charges 貿易及其他應付款項以及 應計費用總額	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	18,570 16,737 10,699 9,173
	29,269 25,910

(a) Trade and retention payables

(a) 貿易應付款項及應付保留金

The credit period on purchases and subcontracting of 購買及分包合約工程服務的信貸期介乎30至 contract work services ranges from 30 to 60 days. The 60日。以下為於報告期末基於發票日期呈列 following is an ageing analysis of trade payables presented 的貿易應付款項賬齡分析： based on the invoice date at the end of the reporting period:

Trade payables: 貿易應付款項： 0-30 days 0至30日 31-60 days 31至60日 61-90 days 61至90日 91-365 days 91至365日 Over 365 days 超過365日 Retention payables 應付保留金 Total trade and retention payables 貿易應付款項及應付保留金總額	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	7,311 5,964 171 153 115 38 366 1,800 5,391 5,334
	13,354 13,289 5,216 3,448
	18,570 16,737

As at 31 March 2020, included in the trade payables aged over 365 days was an amount of HK$4,901,000 (2019: HK$4,901,000), representing the full provision for the Group's contractual obligation, which was pending settlement as the Group was in dispute with the counterparty for final settlement. No reversal of this payable was recognised during the two years ended 31 March 2020 and 2019 as the derecognition criteria in accordance with the Group's accounting policies were not met.

於二零二零年三月三十一日，計入貿易應付 款項的賬齡超過365日的款項為4,901,000 港元（二零一九年：4,901,000港元），指就 本集團合約責任悉數撥備。該款項待結算， 乃由於本集團與對手方就最終結算存在爭議 所致。於截至二零二零年及二零一九年三月 三十一日止兩個年度並無確認撥回該應付款 項，因為根據本集團會計政策，其不符合終 止確認標準。

As at 31 March 2020, trade payables of HK$39,000 (2019: HK$590,000) were denominated in USD.

於二零二零年三月三十一日，貿易應付款項 39,000港元（二零一九年：590,000港元）以美 元列值。

Retention payables to sub-contractors of contract work are interest-free and payable by the Group after the completion of the maintenance period of the relevant contracts or in accordance with the terms specified in the relevant contracts, ranging from 1 to 2 years from the completion date of the respective E&M engineering solutions and services contracts.

應付分包商的合約工程保留金為免息，須由 本集團於相關合約維修期完成後或根據相關 合約規定的條款支付，自相關機電工程解決 方案及服務合約完成日期起計介乎1至2年。

108 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

21. TRADE AND OTHER PAYABLES (CONTINUED)

21. 貿易及其他應付款項（續）

(b) Other payables and accrued charges

(b) 其他應付款項及應計費用

Accrued staff costs 應計員工成本 Provision for annual leave 年假撥備 Other accrued charges 其他應計費用 Total other payables and accrued charges 其他應付款項及應計費用總額	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	4,100 4,053 2,416 2,339 4,183 2,781
	10,699 9,173

22. DEFERRED TAX

22. 遞延稅項

The movements in deferred tax liabilities during the year are as 年內遞延稅項負債的變動如下： follows:

At 1 April 2018 於二零一八年四月一日 Charge/(credit) to profit or loss (note 10) 扣除自╱（計入）損益 （附註10） At 31 March 2019 and 1 April 2019 於二零一九年 三月三十一日及 二零一九年四月一日 Charge/(credit) to profit or loss (note 10) 扣除自╱（計入）損益 （附註10） At 31 March 2020 於二零二零年 三月三十一日	Impairment of trade receivables and contract assets Accelerated tax (accounting) depreciation Others Total 貿易應收款項及 合約資產減值 加速稅項 （會計）折舊 其他 總計 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元
	– 373 (125) 248 – (54) 14 (40)
	– 319 (111) 208 (58) 91 111 144
	(58) 410 – 352

高萌科技集團有限公司 • 二零一九/ 二零年年報 109

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

23. SHARE CAPITAL

23. 股本

Ordinary shares of HK$0.01 each 每股面值0.01港元的普通股 Authorised: 法定： At 31 March 2020 and 2019 於二零二零年及二零一九年三月三十一日 Issued and fully paid: 已發行及悉數繳足： At 31 March 2020 and 2019 於二零二零年及二零一九年三月三十一日	Number of shares Amount 股份數目 金額 ’000 HK$’000 千股 千港元
	3,800,000 38,000
	400,000 4,000

Details of the Company’s share option scheme and the share options issued under the scheme and the Company’s share award scheme are included in notes 34 and 35 to the consolidated financial statements, respectively.

24. RESERVES

本公司購股權計劃及根據該計劃發行的購股權以及 本公司的股份獎勵計劃的詳情分別載於綜合財務報 表附註34及35。

24. 儲備

The amounts of the Group’s reserves and the movements therein for the current and prior years are presented in the consolidated statement of changes in equity on page 60 of the annual report.

本集團本年度及過往年度之儲備及有關變動金額於 本年報第60頁綜合權益變動表內呈列。

Share option reserve

It comprises the fair value of share options vested which are yet to be exercised, as further explained in the accounting policy of sharebased payments in note 3 to the consolidated financial statements. The amount will either be transferred to the share premium account when the related share options are exercised, or transferred to accumulated profits should the related share options lapse or be forfeited.

購股權儲備

購股權儲備包括已歸屬但尚未行使之購股權之公允 值，進一步詳情於綜合財務報表附註3中以股份為基 礎付款的會計政策內解釋。該金額將於有關購股權 獲行使時轉撥至股份溢價賬，或於有關購股權失效 或被沒收時轉撥至累計溢利。

Other reserves

The Group’s other reserves mainly represent (i) the difference between the nominal values of the ordinary shares issued by the Company and the share capital of subsidiaries acquired through an exchange of shares pursuant to the reorganisation of the Group during the year ended 31 March 2018 and (ii) the deemed capital contribution from Mr. KM Luk, a controlling shareholder and an executive director of the Company, in respect of the transfer of 2,000,000 shares to the trust of the share award scheme at nil consideration, and details of the share award scheme are set out in note 35 to the consolidated financial statements.

其他儲備

本集團之其他儲備主要指（i）本公司截至二零一八 年三月三十一日止年度之已發行普通股之面值與透 過根據本集團重組交換股份所收購附屬公司股本之 差額及（ii）就按零代價向股份獎勵計劃之信託轉讓 2,000,000股股份而言，視作本公司控股股東及執行 董事陸鑑明先生注資，及股份獎勵計劃之詳情載於 綜合財務報表附註35。

25. COMMITMENTS

25. 承擔

Capital commitments

資本承擔

Capital expenditure in respect of addition of property, plant and equipment: 有關添置物業、廠房及設備的資本開支； Contracted but not provided for 已訂約但未計提撥備	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	– 1,200

110 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

25. COMMITMENTS (CONTINUED)

25. 承擔（續）

Operating lease commitments as at 31 March 2019

於二零一九年三月三十一日之經營租賃承擔

The Group as lessee

本集團作為承租人

The Group leased various office premises under non-cancellable 本集團租賃不可撤銷經營租賃協議項下的多項辦公 operating lease agreements and the lease terms were 1 to 3 years. 室物業及租期為1至3年。 As at 31 March 2019, the Group had commitments for future 於二零一九年三月三十一日，本集團擁有不可撤銷 minimum lease payments under non-cancellable operating leases 經營租賃項下的未來最低租賃付款承擔，其到期如 which fall due as follows: 下：

Land and buildings 土地及樓宇 Within one year 於一年內 In the second to fifth years, inclusive 第二年至第五年（包括首尾兩年）	2019 二零一九年 HK$’000 千港元
	5,701 150
	5,851

26. RELATED PARTY TRANSACTIONS

26. 關聯方交易

The Group had the following transactions with related parties during the year ended 31 March 2020:

截至二零二零年三月三十一日止年度，本集團與其 關聯方擁有下列交易：

Purchase of materials from Logistic Industrial Supply Company Limited (“Logistic Industrial”) (note a) 向洛士工業器材有限公司（「洛士工業」） 採購物料（附註a） Rental payments 繳付租金 K M L Limited (note b) 圖遠有限公司（附註b）	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	120 131
	5,402 4,847

Notes:

• (a) Logistic Industrial is a company over which Mr. KM Luk and Madam Leung have significant influence. The purchase prices of goods were mutually agreed between the parties.

• (b) K M L Limited is controlled by Mr. KM Luk. Rental payments were on a mutually-agreed basis and constitute connected transactions or continuing connected transactions as defined in Chapter 20 of the GEM Listing Rules.

附註：

• (a) 洛士工業為陸鑑明先生及梁女士對其有重大影響力的公 司。貨品之採購價由雙方相互協定。

• (b) 圖遠有限公司由陸鑑明先生控制。繳付租金按相互協 定基準釐定，並構成關連交易或持續關連交易（定義見 GEM上市規則第20章）。

高萌科技集團有限公司 • 二零一九/ 二零年年報 111

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

Notes to Consolidated Financial Statements 綜合財務報表附註

26. RELATED PARTY TRANSACTIONS (CONTINUED)

26. 關聯方交易（續）

Save as disclosed elsewhere in these financial statements, the Group had no material transactions and outstanding balances with related parties during the years ended 31 March 2020 and 2019.

除該等財務報表其他處所披露外，於截至二零二零 年及二零一九年三月三十一日止年度，本集團與關 聯方並無重大交易及未償還結餘。

Compensation of key management personnel

Key management personnel of the Group are the directors of the Company. Their remunerations during the years ended 31 March 2020 and 2019 were set out in note 8.

關鍵管理人員薪酬

本集團關鍵管理人員為本公司董事。彼等於截至二 零二零年及二零一九年三月三十一日止年度的薪酬 於附註8載列。

27. RETIREMENT BENEFIT SCHEMES

27. 退休福利計劃

The Group participates in defined contribution schemes which are registered under the ORSO Scheme and the MPF Scheme established under the Mandatory Provident Fund Ordinance in December 2000. The assets of the schemes are held separately from those of the Group, in funds under the control of trustees. Employees who were members of the ORSO Scheme prior to the establishment of the MPF Scheme were offered a choice of staying within the ORSO Scheme or switching to the MPF Scheme, whereas all new employees joining the Group on or after 1 December 2000 are required to join the MPF Scheme.

本集團參與定額供款計劃，此乃根據職業退休計劃 條例計劃及強制性公積金計劃（於二零零零年十二月 根據強制性公積金條例成立）而註冊。該等計劃資產 由受託人以基金形式管理，與本集團之資產分開持 有。於強積金計劃成立前屬於職業退休計劃成員之 僱員有權選擇繼續參與職業退休計劃，或轉移參加 強積金計劃，惟於二零零零年十二月一日或之後加 入本集團之所有新僱員則須參加強積金計劃。

For members of the MPF Scheme, except for the Group's voluntary contributions, the Group contributes 5% of relevant payroll costs to the MPF Scheme, subject to a cap of monthly relevant income of HK$30,000, which contribution is matched by the employee.

就強積金計劃之成員而言，除本集團自願供款外， 本集團須向強積金計劃之有關工資成本作5%供款， 惟以每月相關收入上限30,000港元為限，該筆供款 與僱員之供款額一致。

The ORSO Scheme is funded by monthly contributions from both employees and the Group at rates ranging from 5% to 8% of the employee’s basic salary, depending on the length of service with the Group.

職業退休計劃條例計劃之資金來自僱員及本集團按 介乎僱員底薪5%至8%作每月供款，取決於服務予 本集團的時間長短。

The total expense recognised in profit or loss of HK$2,929,000 (2019: HK$2,833,000) during the year ended 31 March 2020 represents contributions paid and payable to these plans by the Group at rates specified in the rules of the plans.

28. CAPITAL RISK MANAGEMENT

於截至二零二零年三月三十一日止年度，於損 益中確認的總開支2,929,000港元（二零一九年： 2,833,000港元）指本集團根據計劃原則指定的比率 已付及應付該等計劃的供款。

28. 資本風險管理

The Group manages its capital to ensure that entities in the Group will be able to continue as a going concern while maximising the return to owners through the optimisation of the debt and equity balance.

本集團管理其資本以確保本集團內實體將能夠持續 經營，同時透過優化債務及權益結餘為擁有人帶來 最大回報。

The capital structure of the Group consists of debt and equity of the Group, comprising issued share capital and accumulated profits.

本集團的資本架構由本集團債務及權益組成，包括 已發行股本及累計溢利。

The management of the Group reviews the capital structure regularly taking into account the cost of capital and the risk associated with the capital. The Group will balance its overall capital structure through issuance of new shares and the raise of borrowings.

本集團管理層經計及資本成本及與資本有關的風 險，定期檢討資本架構。本集團將通過發行新股份 及籌集借貸，平衡其整體資本架構。

112 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

29. FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS

29. 金融工具的公允值及公允值層級

Management has assessed that the fair values of financial assets and liabilities which are due to be received or settled within one year approximate to their carrying amounts largely due to the short term maturities of these instruments.

管理層已評估將於一年內收取或結清之金融資產及 負債之公允值，由於該等工具之期限均為短期，故 管理層認為該等工具之公允值與其賬面值大致相 若。

The fair values of the financial assets and liabilities are included at the amounts at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

金融資產及負債的公允值乃計入該工具可由自願 各方在現有交易（強制或清算銷售除外）中交換的金 額。

The following methods and assumptions were used to estimate the fair values:

以下為用作估計公允值的方法及假設：

The fair value of the non-current portion of deposits and lease liabilities have been calculated by discounting the expected future cash flows using rates currently available for instruments with similar terms, credit risk and remaining maturities. In the opinion of the directors, since their carrying amounts are not significantly different from their respective fair values, no disclosure of the fair values of these financial instruments is made.

按金及租賃負債之非流動部分之公允值已按適用於 具有類似條款、信貸風險及剩餘年期的工具的現行 利率貼現預期未來現金流量計算。董事認為，因其 賬面值與其各自之公允值並無重大差異，故概無披 露該等金融工具之公允值。

Fair value hierarchy

The following tables illustrate the fair value measurement hierarchy of the Group’s assets:

公允值層級

下表闡述本集團資產之公允值計量層級：

Assets measured at fair value:

按公允值計量之資產：

As at 31 March 2020

於二零二零年三月三十一日

Financial assets at fair value through profit or loss 按公允值計入損益的 金融資產	Fair value measurement using 使用下列數據之公允值計量 Quoted prices in active markets Significant observable inputs Significant unobservable inputs Total 於活躍市場之 報價 重大 可觀察輸入 數據 重大 不可觀察 輸入數據 總計 (Level 1) (Level 2) (Level 3) （第一級） （第二級） （第三級） HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元
	– – 5,181 5,181

During the year, there were no transfers of fair value measurement between Level 1 and Level 2 for both financial assets and financial liabilities (2019: Nil).

年內，金融資產及金融負債兩者之第一級及第二級 之公允值計量概無轉撥（二零一九年：無）

The Group did not have any financial liabilities measured at fair value as at 31 March 2020 and 31 March 2019.

於二零二零年三月三十一日及二零一九年三月 三十一日，本集團概無按公允值計量之任何金融負 債。

高萌科技集團有限公司 • 二零一九/ 二零年年報 113

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

29. FAIR VALUE AND FAIR VALUE HIERARCHY OF 29. 金融工具的公允值及公允值層級（續） FINANCIAL INSTRUMENTS (CONTINUED)

Fair value hierarchy (continued)

Reconciliation of fair value measurements categorised within Level 3 of the fair value hierarchy:

公允值層級（續）

分類為公允值層級第三級內之公允值計量對賬：

Carrying amount at 31 March 2019 and 1 April 2019 於二零一九年三月三十一日及二零一九年四月一日 之賬面值 Addition 增加 Loss from fair value adjustment recognised in administrative expenses 於行政開支內確認之公允值調整虧損 Interest income recognised in other income 於其他收入內確認之利息收入 Exchange realignment 匯兌調整 Carrying amount at 31 March 2020 於二零二零年三月三十一日之賬面值	HK$’000 千港元
	– 6,240 (1,207) 173 (25)
	5,181

30. FINANCIAL INSTRUMENTS

30. 金融工具

The carrying amounts of each of the categories of financial instruments as at the end of the reporting period are as follows:

Categories of financial instruments

於報告期末各類別金融工具之賬面值如下：

金融工具類別

Financial assets 金融資產 Amortised cost 攤銷成本 Fair value through profit or loss 按公允值計入損益 Financial liabilities 金融負債 Amortised cost 攤銷成本	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	144,093 130,616 5,181 –
	34,117 22,897

Financial risk management objectives and policies

The Group’s principal financial instruments include trade receivables, other receivables and deposits, pledged bank deposits, time deposits with original maturity over three months, bank balances and cash, trade and other payables and accrued charges and lease liabilities. Details of the major financial instruments and the Group’s relevant accounting policies are disclosed in note 3 to the consolidated financial statements.

財務風險管理目標及政策

本集團的主要金融工具包括貿易應收款項、其他應 收款項及按金、有抵押銀行存款、原到期日超過三 個月的定期存款、銀行結餘及現金、貿易及其他應 付款項及應計費用以及租賃負債。主要金融工具及 本集團相關會計政策的詳情於綜合財務報表附註3披 露.

The main risks arising from the Group’s financial instruments are currency risk, interest rate risk, credit risk and liquidity risk. The Directors review and agree policies for managing each of these risks and they are summarised below.

本集團金融工具產生的主要風險為貨幣風險、利率 風險、信貸風險及流動資金風險。董事檢討並同意 管理該等風險之政策且有關政策概述於下文。

114 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

30. FINANCIAL INSTRUMENTS (CONTINUED)

30. 金融工具（續）

Financial risk management objectives and policies (continued)

財務風險管理目標及政策（續）

Currency risk

Financial assets at fair value through profit or loss, certain bank balances and cash, time deposits with original maturity over three months, trade receivables and trade payables of the Group are denominated in foreign currencies, i.e. RMB, EUR, USD, New Taiwan Dollars (“ NTD ”) and SGD. The carrying amounts of the Group’s bank balances and cash, time deposits with original maturity over three months, trade receivables and trade payables denominated in foreign currencies at the end of each reporting period are as follows:

貨幣風險

本集團按公允值計入損益的金融資產、若干銀行結 餘及現金、原到期日超過三個月的定期存款、貿易 應收款項及貿易應付款項以外幣（即人民幣、歐元、 美元、新台幣（「 新台幣 」）及新加坡元）列值。於各報 告期末外幣列值的本集團銀行結餘及現金、原到期 日超過三個月的定期存款、貿易應收款項以及貿易 應付款項的賬面值如下：

RMB 人民幣 EUR 歐元 USD 美元 NTD 新台幣 SGD 新加坡元	Financial assets Financial liabilities 金融資產 金融負債 2020 2019 2020 2019 二零二零年 二零一九年 二零二零年 二零一九年 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元
	2,656 2,731 9 3 1,671 895 – – 12,858 1,436 39 590 104 171 12 – 7 1,869 – –

The Group currently does not have a foreign currency hedging policy. However, the directors of the Company monitor foreign exchange exposure and will consider hedging significant foreign currency exposure should the need arise.

本集團現時並無外幣對沖政策。然而，本公司董事 監控外匯風險並將於需要時考慮對沖重大外幣風 險。

Since the exchange rate of HK$ is pegged with USD, the Group does not expect any significant movements in the USD/HK$ exchange rates. Thus, there is no sensitivity analysis on USD denominated financial assets.

由於港元與美元相掛鉤，本集團預計美元╱港元匯 率並無任何重大變動。因此，並無以美元列值的金 融資產敏感度分析。

Sensitivity analysis of a 10% strengthening in functional currency of the Group (i.e. HK$) against foreign currencies and keeping all other variables constant resulted in a decrease in post-tax profit of the years ended 31 March 2020 and 2019. For a 10% weakening of HK$ against foreign currencies there would be an equal and opposite impact on the results.

本集團功能貨幣（即港元）兌外幣升值10%及所有其 他變數保持不變的敏感度分析，導致截至二零二零 年及二零一九年三月三十一日止年度除稅後溢利減 少。就港元兌外幣貶值10%而言，對業績將產生等 量及相反的影響。

RMB 人民幣 EUR 歐元 NTD 新台幣 SGD 新加坡元	2020 2019 二零二零年 二零一九年 HK$’000 HK$’000 千港元 千港元
	221 228 140 75 8 14 1 156

高萌科技集團有限公司 • 二零一九/ 二零年年報 115

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

30. FINANCIAL INSTRUMENTS (CONTINUED)

Financial risk management objectives and policies (continued)

Interest rate risk

The Group is exposed to cash flow interest rate risk in bank balances and cash and pledged bank deposits as at 31 March 2020 and 2019.

As at 31 March 2020 and 2019, the Group is also exposed to fair value interest rate risk in relation to fixed rate time deposits with original maturity over three months.

The Group has not used any interest rate swaps to mitigate its exposure associated with interest rate risk. However, the management of the Group monitors interest rate exposure and will consider hedging significant interest rate exposure should the need arise.

Sensitivity analysis

In the opinion of the management of the Group, the expected change in interest rate will not have a significant impact on the interest income or expenses on payments for bank balances and pledged bank deposits, hence sensitivity analysis is not presented.

Credit risk and impairment assessment

The Group’s maximum exposure to credit risk which will cause a financial loss to the Group due to the failure to discharge the obligations by counterparties arises from the carrying amount of the respective recognised financial assets as stated in the consolidated statements of financial position at the end of the reporting period. The Group’s credit risk is primarily attributable to financial assets at fair value through profit or loss, trade receivables, contract assets, financial assets included in other receivables, deposits and prepayments, pledged bank deposits, time deposits with original maturity over three months and bank balances and cash.

Trade receivables and contract assets arising from contracts with customers

In order to minimise the credit risk, the management of the Group has delegated a team responsible for the determination of credit limits and credit approvals. Before accepting any new customer, the Group uses an internal credit scoring system to assess the potential customer’s credit quality and define credit limits by customer. The level of credit granted must not exceed a predetermined level set by management. Limits and scoring attributed to customers are reviewed once a year. Other monitoring procedures are in place to ensure that follow-up action is taken to recover overdue debts. In addition, the Group performs impairment assessment under the ECL model on trade receivables and contract assets individually. In this regard, the directors of the Company consider that the Group’s credit risk is significantly reduced.

30. 金融工具（續）

財務風險管理目標及政策（續）

利率風險

於二零二零年及二零一九年三月三十一日，本集團 因銀行結餘及現金及有抵押銀行存款面臨現金流量 利率風險。

於二零二零年及二零一九年三月三十一日，本集團 亦面臨有關利率固定的原到期日超過三個月的定期 存款的公允值利率風險。

本集團並無使用任何利率掉期以減緩其有關利率的 風險。然而，本集團管理層監控利率風險及於需要 時將考慮對沖重大利率風險。

敏感度分析

本集團管理層認為，利率預計變動將不會對利息收 入或支付銀行結餘及有抵押銀行存款的開支產生重 大影響，因此並無呈列敏感度分析。

信貸風險及減值評估

本集團面臨的最大信貸風險為因未能解除交易對手 方責任而對本集團造成財務虧損，來自於報告期末 綜合財務狀況表所述各自已確認金融資產的賬面 值。本集團信貸風險主要產生自按公允值計入損益 的金融資產、貿易應收款項、合約資產、計入其他 應收款項、按金及預付款項之金融資產、有抵押銀 行存款、原到期日超過三個月的定期存款及銀行結 餘以及現金。

貿易應收款項及來自客戶合約的合約資產

為盡量減低信貸風險，本集團管理層已委派一小 組，負責釐定信貸限額及信貸批核。接納任何新客 戶前，本集團採用內部信貸評分系統評估潛在客戶 的信貸質素及按客戶界定的信貸額度。所授出信貸 水平不得超過管理層預先設定的水平。每年一次審 閱對客戶的額度及評分。進行其他監察程序，以確 保已採取跟進措施，收回逾期債項。此外，本集團 亦對貿易應收款項及合約資產根據預期信貸虧損模 式單獨進行減值評估。就此而言，本公司董事認為 本集團之信貸風險已大幅減低。

116 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

30. FINANCIAL INSTRUMENTS (CONTINUED)

Financial risk management objectives and policies (continued)

Credit risk and impairment assessment (continued)

Trade receivables and contract assets arising from contracts with customers (continued)

The Group’s concentration of credit risk on trade receivables and contract assets by geographical locations is mainly in Hong Kong, which accounted for 97.0% (2019: 95.7%) of the total trade receivables and 99.8% (2019: 76%) of the total contract assets as at 31 March 2020.

The Group has concentration of credit risks on trade receivables and contract assets with exposure limited to certain customers. Top five customers amounting to HK$37,498,000 (2019: HK$31,975,000) comprised approximately 82% (2019: 78%) of the Group’s trade receivables and 88% (2019: 76%) of the Group’s total contract assets as at 31 March 2020. As at 31 March 2020, 63.8% (2019: 70.8%) of the Group’s trade receivables were due from the Group’s largest customer.

Pledged bank deposits, time deposits with original maturity over three months and bank balances and cash

The Group has a concentration of credit risk on pledged bank deposits, time deposits with original maturity over three months and bank balances deposited with a few major banks. The credit risk on these balances is limited because the counterparties are banks with good reputation and with high credit ratings assigned by international credit-rating agencies.

Financial assets included in other receivables, deposits and prepayments

The management of the Group regularly reviews and assesses the credit quality of the counterparties. The Group uses 12-month ECLs to assess the loss allowance for financial assets included in other receivables, deposits and prepayments since these receivables are not past due and there has not been a significant increase in credit risk since initial recognition. Based on internal credit assessment, the directors of the Company consider that these assets are low credit risk financial assets due to the short-term nature and the probability of default is negligible. Hence, no loss allowance was recognised during the year ended 31 March 2020 (2019: Nil).

Other than the concentration risk as disclosed above, the Group does not have any other significant concentration of credit risk.

The tables below show the credit quality and the maximum exposure to credit risk based on the Group’s credit policy, which is mainly based on past due information unless other information is available without undue cost or effort, and year-end staging classification as at 31 March. The amounts presented are gross carrying amounts for financial assets and contract assets.

30. 金融工具（續）

財務風險管理目標及政策（續）

信貸風險及減值評估（續） 貿易應收款項及來自客戶合約的合約資產（續）

本集團貿易應收款項及合約資產按地理位置劃分 的信貸風險集中主要在香港，於二零二零年三月 三十一日佔總貿易應收款項的 97.0%（二零一九 年：95.7%）及總合約資產的99.8%（二零一九年： 76%）。

本集團面臨僅限於若干客戶的貿易應收款項及合約 資產集中信貸風險。於二零二零年三月三十一日， 應收五大客戶款項為37,498,000港元（二零一九年： 31,975,000港元）佔本集團貿易應收款項約82%（二 零一九年：78%）及本集團總合約資產88%（二零 一九年：76%）。於二零二零年三月三十一日，本集 團貿易應收款項中63.8%（二零一九年：70.8%）為應 收本集團最大客戶款項。

已抵押銀行存款、原到期日超過三個月的定期存款 以及銀行結餘及現金

本集團有關於已抵押銀行存款、原到期日超過三個 月的定期存款及與一些主要銀行的銀行結餘的集中 信貸風險。該等結餘的信貸風險有限，因為交易對 手方為聲譽良好及由國際信貸評級機構評定的高信 貸等級之銀行。

計入其他應收款項、按金及預付款項之金融資產

本集團管理層定期審閱及評估交易對手方的信貸質 素。本集團使用12個月預期信貸虧損評估計入其 他應收款項、按金及預付款項之金融資產的虧損撥 備，因為該等應收款項並無逾期及自初次確認起其 信貸風險並無重大增加。根據內部信貸評估，本公 司董事認為由於短期性質及違約可能性可忽略，該 等資產為低信貸風險資產。因此，於截至二零二零 年三月三十一日止年度並無確認虧損撥備（二零一九 年：零）。

除上文所披露集中性風險外，本集團並無任何其他 重大集中信貸風險。

下表載列基於本集團信貸政策之信貸質素及最高信 貸風險，主要基於逾期資料（除非其他資料可在無須 付出不必要成本或努力的情況下獲得），及於三月 三十一日之年結階段分類。所呈列金額為金融資產 及合約資產之總賬面值。

高萌科技集團有限公司 • 二零一九/ 二零年年報 117

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

30. FINANCIAL INSTRUMENTS (CONTINUED)

30. 金融工具（續）

Financial risk management objectives and policies 財務風險管理目標及政策（續） (continued) Credit risk and impairment assessment (continued) 信貸風險及減值評估（續） As at 31 March 2020 於二零二零年三月三十一日

Trade receivables 貿易應收款項 Contract assets 合約資產 Financial assets included in other receivables, deposits and prepayments 計入其他應收款項、 按金及預付款項之 金融資產 Pledged bank deposits 已抵押銀行存款 Time deposits with original maturity over three months 原到期日超過三個月的 定期存款 Bank balances and cash 銀行結餘及現金	12-month ECLs Lifetime ECLs 十二個月 預期信貸虧損 存續期預期信貸虧損 Stage 1 Stage 2 Stage 3 Simplified approach Total 第一階段 第二階段 第三階段 簡化方法 總計 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
	– – – 45,982 45,982 – – – 63,158 63,158 1,384 – – – 1,384 14,045 – – – 14,045 6,347 – – – 6,347 76,652 – – – 76,652
	98,428 – – 109,140 207,568

As at 31 March 2019

於二零一九年三月三十一日

Trade receivables 貿易應收款項 Contract assets 合約資產 Financial assets included in other receivables, deposits and prepayments 計入其他應收款項、 按金及預付款項之 金融資產 Pledged bank deposits 已抵押銀行存款 Time deposits with original maturity over three months 原到期日超過三個月的 定期存款 Bank balances and cash 銀行結餘及現金	12-month ECLs Lifetime ECLs 十二個月 預期信貸虧損 存續期預期信貸虧損 Stage 1 Stage 2 Stage 3 Simplified approach Total 第一階段 第二階段 第三階段 簡化方法 總計 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
	– – – 41,263 41,263 – – – 49,453 49,453 1,649 – – – 1,649 10,782 – – – 10,782 40,050 – – – 40,050 36,989 – – – 36,989
	89,470 – – 90,716 180,186

118 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

30. FINANCIAL INSTRUMENTS (CONTINUED)

30. 金融工具（續）

Financial risk management objectives and policies (continued)

財務風險管理目標及政策（續）

Credit risk and impairment assessment (continued)

The closing loss allowances for trade receivables, contract assets and financial assets included in other receivables, deposits and prepayments as at the end of the reporting period are reconciled to the opening loss allowances as follows:

信貸風險及減值評估（續）

於報告期末，貿易應收款項、合約資產及計入其他 應收款項、按金及其預付款項的金融資產之期末虧 損撥備與期初虧損撥備之對賬如下：

At 1 April 2018 於二零一八年四月一日 Impairment losses, net 減值虧損淨額 At 31 March 2019 and 1 April 2019 於二零一九年三月三十一日 及二零一九年四月一日 Impairment losses/(reversal of impairment losses), net 減值虧損╱（撥回 減值虧損）淨額 At 31 March 2020 於二零二零年三月三十一日	Trade receivables Contract assets Financial assets included in other receivables, deposits and prepayments Total 貿易應收款項 合約資產 計入其他應收 款項、按金 及預付款項 的金融資產 總計 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元
	62 27 – 89 55 93 – 148
	117 120 – 237 200 (87) – 113
	317 33 – 350

The estimated loss rates and risk level are estimated based on historical observed default rates over the expected life of the debtors and are adjusted for forward-looking information that is available without undue cost or effort. The grouping is regularly reviewed by management to ensure relevant information about specific debtors is updated.

估計虧損率及風險等級乃根據歷史觀察違約率就債 務人的預期年期估計，並會根據無需過多成本或努 力即可獲得的前瞻性資料作出調整。管理層定期檢 討有關分組，以確保特定債務人的相關資料保持更 新。

The Group writes off a trade receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or when the trade receivables are over two years past due, whichever occurs earlier. Trade receivables of HK$650,000 were written off by the Group during the year ended 31 March 2020.

倘有資料顯示債務人身處嚴重財務困難且日後收 回款項的機會渺茫（如債務人遭清盤或進入破產程 序），或貿易應收款項已逾期超過兩年（以較早者為 準），本集團將撇銷該項貿易應收款項。於截至二零 二零年三月三十一日止年度，本集團撇銷貿易應收 款項650,000港元。

During the year ended 31 March 2020, the Group made HK$200,000 and reversed HK$87,000 (2019: provision of HK$55,000 and HK$93,000) of impairment allowance for trade receivables and contract assets, respectively. No impairment allowance was made on debtors with significant balance during year ended 31 March 2020.

截至二零二零年三月三十一日止年度，本集團就貿 易應收款項及合約資產分別計提減值撥備200,000 港元及撥回87,000港元（二零一九年：撥備55,000港 元及93,000港元）。於截至二零二零年三月三十一日 止年度，並無就具有重大結餘的債務人作出減值撥 備。

高萌科技集團有限公司 • 二零一九/ 二零年年報 119

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

30. FINANCIAL INSTRUMENTS (CONTINUED)

30. 金融工具（續）

Financial risk management objectives and policies (continued)

財務風險管理目標及政策（續）

Liquidity risk

In the management of liquidity risk, the Group monitors and maintains a level of cash and cash equivalents deemed adequate by management to finance the Group’s operations and mitigate the effects of unexpected fluctuations in cash flows.

流動資金風險

於管理流動資金風險時，本集團監控及維持管理層 視為適當的現金及現金等價物水平，以撥付本集團 營運資金及減緩現金流量無法預計波動的影響。

The following table details the Group’s remaining contractual maturity for its non-derivative financial liabilities. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group is required to pay.

下表詳述本集團非衍生金融負債的餘下合約到期情 況。該表基於金融負債於本集團須償付的最早日期 的未折現現金流量編製。

As at 31 March 2020 於二零二零年三月三十一日 Financial liabilities included in trade and other payables 計入貿易及其他應付款項的金融負債 Lease liabilities 租賃負債 As at 31 March 2019 於二零一九年三月三十一日 Financial liabilities included in trade and other payables 計入貿易及其他應付款項的金融負債	On demand or within 1 year Over 1 year Total 按要求或於1年內 於一年後 總計 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元
	20,515 4,901 25,416 5,865 3,130 8,995
	26,380 8,031 34,411
	17,996 4,901 22,897

31. PERFORMANCE GUARANTEES

31. 履約擔保

As at 31 March 2020, performance guarantees of approximately HK$5,424,000 (2019: HK$5,424,000) were given by a bank in favour of the Group’s customer as security for the due performance and observance of the Group’s obligations under the contracts entered into between the Group and its customer. If the Group failed to provide satisfactory performance to their customer to whom the performance guarantees had been given, such customer may demand the bank to pay to them the sum or sum stipulated in such demand. The Group would become liable to compensate such bank accordingly. The performance guarantees would be released upon completion of the contract works. The performance guarantees were granted under a banking facility.

於二零二零年三月三十一日，履約擔保約5,424,000 港元（二零一九年：5,424,000港元）由銀行以本集團 客戶為受益人作出，作為適當履約及遵守本集團於 本集團與該客戶訂立的合約項下義務的擔保。倘本 集團未有向獲給予履約擔保的其客戶提供令人滿意 的履約，該等客戶可能要求銀行向其支付該款項或 於該要求中訂明的款項。本集團須據此負責向該等 銀行作出補償。履約擔保將於合約工程竣工後獲解 除。履約擔保根據銀行融資授出。

120 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

32. NOTES TO THE CONSOLIDATED STATEMENT OF CASH 32. 綜合現金流量表附註 FLOWS

(a) 主要非現金交易

(a) Major non-cash transactions (a) 主要非現金交易 During the year, the Group had non-cash additions to 於年內，本集團就物業之租賃安排作出非 right-of-use assets and lease liabilities of HK$8,555,000 現金添置至使用權資產及租賃負債分別為 and HK$8,555,000, respectively, in respect of lease 8,555,000港元及8,555,000港元（二零一九 arrangements for properties (2019: Nil). 年：無）。

(b)	Changes in liabilities arising from financing activities	Changes in liabilities arising from financing activities	(b)	融資活動產生之負債變動	融資活動產生之負債變動
					Bank	Lease
					borrowing	liabilities
					銀行借貸	租賃負債
					HK$’000	HK$’000
					千港元	千港元
	At 1 April 2018	於二零一八年四月一日			–	–
	Changes from financing cash flows	融資現金流量變動			–	–
	Interest expense	利息開支			–	–
	At 31 March 2019	於二零一九年三月三十一日			–	–
	Effect of adoption of HKFRS 16	採納香港財務報告準則第16號的影響			–	5,728
	At 1 April 2019 (restated)	於二零一九年四月一日（經重列）			–	5,728
	New leases	新租賃			–	8,555
	Changes from financing cash flows	融資現金流量變動			(35)	(5,582)
	Interest expense	利息開支			35	124
	Interest paid classified as operating cash	分類為經營現金流量的
	flows	已付利息			–	(124)
	At 31 March 2020	於二零二零年三月三十一日			–	8,701
(c)	Total cash outflow for leases		(c)	租賃之現金流出總額
	The total cash outflow for leases included in the statement of			計入現金流量表之租賃現金流出總額如下：
	cash flows is as follows:

Within operating activities 於經營活動範圍內 Within financing activities 於融資活動範圍內	2020 二零二零年 HK$’000 千港元
	210 5,582
	5,792

33. CONTINGENT LIABILITIES

33. 或然負債

At 31 March 2020, the Group did not have any significant contingent liabilities (2019: Nil).

於二零二零年三月三十一日，本集團並無任何重大 或然負債（二零一九年：無）。

高萌科技集團有限公司 • 二零一九/ 二零年年報 121

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

34. SHARE OPTION SCHEME

34. 購股權計劃

Upon passing an ordinary resolution on 20 September 2017, the Company adopted a share option scheme (the “ Share Option Scheme ”) which will remain valid for a period of 10 years commencing on 16 October 2017. The major terms of the Share Option Scheme are set out below:

於二零一七年九月二十日通過普通決議案後，本公 司採納一項購股權計劃（「 購股權計劃 」），該計劃將 自二零一七年十月十六日起10年內有效。購股權計 劃的主要條款載列如下：

• (i) The purpose of the Share Option Scheme is to recognise and acknowledge the contributions that the directors and employees of the Group have made or may make to the Group;

• (i) 購股權計劃旨在嘉許及表揚已經或可能對本 集團作出的貢獻的本集團董事及僱員；

• (ii) The participants included any director or employee of the Group which, in the opinion of the Company’s board of directors, has contribution or potential contribution to the development and growth of the Group;

• (ii) 參與者包括本公司董事會認為對本集團發展 及增長作出貢獻或潛在貢獻的本集團任何董 事或僱員；

• (iii) The maximum number of shares in respect of which options might be granted under the Share Option Scheme must not exceed 30% of the issued share capital of the Company from time to time. The number of shares issued and to be issued in respect of which options granted and may be granted to any individual in any 12-month period is not permitted to exceed 1% of the shares of the Company in issue at any point in time, without prior approval from the Company’s shareholders. Options granted to a substantial shareholder or an independent non-executive director in excess of 0.1% of the Company’s share capital or with a value in excess of HK$5 million must be approved in advance by the Company’s shareholders;

• (iii) 有關根據購股權計劃授出的購股權的股份之 最高數目不得超過本公司不時已發行股本的 30%。有關已授出及於任何12個月期間可能 向任何個人授出的購股權已發行及將予發行 的股份數目在未獲得本公司股東的事先批准 情況下，不得超過本公司任何時間點已發行 股份的1%。授予一名主要股東或獨立非執行 董事的購股權超過本公司股本的0.1%或價值 超過5百萬港元必須事先獲得本公司股東的批 准；

• (iv) In relation to each grantee of the options granted under the Share Option Scheme, the right of the grantee to exercise the option shall be in accordance with the terms of the Share Option Scheme and the period to be notified by the board of directors of the Company to each grantee which shall not exceed 10 years from the date upon which the options are deemed to be granted and accepted;

• (iv) 就根據購股權計劃獲授購股權的各承授人而 言，承授人行使購股權的權利應根據購股權 計劃的條款及本公司董事會通知各承授人的 期間不得超過購股權視作授出及接納之日起 10年；

• (v) The exercise price of an option will be determined by the board of directors of the Company and will not be less than the highest of:

• (v) 購股權的行使價將由本公司董事會釐定及將 不低於以下之最高者：

• the closing price of the share on the date of grant;

• ‧ 股份於授出日期的收市價；

• the average closing price of the share for the five business days immediately preceding the date of grant; and

• ‧ 股份於緊接授出日期前五個營業日的平 均收市價；及

• the nominal value of the share.

• ‧ 股份的名義值。

• (vi) A consideration of HK$10 per grant is payable on acceptance of the offer of grant of options.

• (vi) 在接納每項要約授出購股權時應付代價10港 元。

122 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

34. SHARE OPTION SCHEME (CONTINUED)

34. 購股權計劃（續）

During the year ended 31 March 2019, 9,200,000 options were granted to a director and employees of the Group on 3 September 2018 for the provision of services to the Group. The vesting period of the first tranche of share options is from 3 September 2018 to 2 March 2019 (“ First Tranche of 2018 granted ”). The vesting period of the second tranche of share options is from 3 September 2018 to 2 March 2020 (“ Second Tranche of 2018 granted ”). The details of the First Tranche of 2018 granted and Second Tranche of 2018 granted of share options are identical except for the difference in vesting periods as mentioned above. The fair value of the share options at the date of grant was calculated using the Binominal Option Pricing Model. The fair value of the share options granted on 3 September 2018 is HK$1,706,000.

截至二零一九年三月三十一日止年度，有9,200,000 份購股權於二零一八年九月三日授予本集團董事及 僱員，作為向本集團提供服務的回報。首批購股權 的歸屬期為二零一八年九月三日至二零一九年三月 二日（「 二零一八年授出的首批 」）。第二批購股權的 歸屬期為二零一八年九月三日至二零二零年三月 二日（「 二零一八年授出的第二批 」）。二零一八年授 出的首批及二零一八年授出的第二批購股權的詳情 相同，惟上文所述歸屬期存在差異。於授出日期購 股權的公允值使用二項期權定價模式計算。於二零 一八年九月三日授出的購股權的公允值為1,706,000 港元。

During the year ended 31 March 2020, the 9,200,000 options were cancelled and 9,800,000 options were granted to a director and employees of the Group on 2 January 2020 for the provision of services to the Group. The vesting period of first tranche of share options is from 2 January 2020 to 30 June 2020 (“ First Tranche of 2020 granted ”). The vesting period of the second tranche of share options is from 2 January 2020 to 1 January 2021 (“ Second Tranche of 2020 granted ”). The vesting period of the third tranche of share options is from 2 January 2020 to 30 June 2021 (“ Third Tranche ”). The details of the First Tranche of 2020 granted, Second Tranche of 2020 granted and Third Tranche share options are identical except for the difference in vesting periods as mentioned above. The fair value of the share options at the date of grant was calculated using the Binominal Option Pricing Model. The fair value of the share options granted on 2 January 2020 is HK$1,057,000.

截至二零二零年三月三十一日止年度，有9,200,000 份購股權獲註銷及於二零二零年一月二日有 9,800,000份購股權授予本集團董事及僱員，作為向 本集團提供服務的回報。首批購股權的歸屬期為二 零二零年一月二日至二零二零年六月三十日（「 二零 二零年授出的首批 」）。第二批購股權的歸屬期為二 零二零年一月二日至二零二一年一月一日（「 二零二 零年授出的第二批 」）。第三批購股權的歸屬期為二 零二零年一月二日至二零二一年六月三十日（「 第三 批 」）。二零二零年授出的首批、二零二零年授出的 第二批及第三批購股權的詳情相同，惟上文所述歸 屬期存在差異。於授出日期購股權的公允值使用二 項期權定價模式計算。於二零二零年一月二日授出 的購股權的公允值為1,057,000港元。

The inputs into the valuations of the share options were as follows:

購股權估值的輸入數據如下：

Share price at grant date 於授出日期的股價 Exercise price 行使價 Risk free rate (note a) 無風險利率（附註a） Expected life (note b) 預期年期（附註b） Expected dividend yield 預期股息率 Expected volatility (note c) 預期波幅（附註c）	Share options granted on 2 January Share options granted on 3 September 2020 2018 於二零二零年 一月二日授出 的購股權 於二零一八年 九月三日授出 的購股權
	HK$0.250 0.250港元 HK$0.385 0.385港元 HK$0.259 0.259港元 HK$0.385 0.385港元 2.056% 2.112% 5 years 5年 5 years 5年 0% 0% 54.96% 61.93%

Notes:

• (a) Risk free rate is determined by reference to the prevailing rates on debt securities as reference from Thomson Reuters.

• (b) Expected life is the exercise period of the share options.

• (c) Expected volatility is estimated by calculating the historical daily share price volatility of the stock price of the Company.

附註：

• (a) 無風險利率乃參考湯森路透社所示債務證券之現行利率 釐定。

• (b) 預期年期指購股權的行使期。

• (c) 預期波幅乃計算本公司股價的歷史每日股價波幅而估 計。

123

高萌科技集團有限公司 • 二零一九/ 二零年年報

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

34. SHARE OPTION SCHEME (CONTINUED)

34. 購股權計劃（續）

The following share options were outstanding under the Share Option Scheme during the year:

於年內，購股權計劃項下之下列購股權尚未獲行 使：

At 1 April 於四月一日 Cancelled during the year 年內註銷 Granted during the year 年內授出 At 31 March 於三月三十一日	2020 2019 二零二零年 二零一九年 Weighted average exercise price Number of options Weighted average exercise price Number of options 加權平均行使價 購股權數目 加權平均行使價 購股權數目 HK$ per share ’000 HK$ per share ’000 每股港元 千股 每股港元 千股	2020 2019 二零二零年 二零一九年 Weighted average exercise price Number of options Weighted average exercise price Number of options 加權平均行使價 購股權數目 加權平均行使價 購股權數目 HK$ per share ’000 HK$ per share ’000 每股港元 千股 每股港元 千股	2020 2019 二零二零年 二零一九年 Weighted average exercise price Number of options Weighted average exercise price Number of options 加權平均行使價 購股權數目 加權平均行使價 購股權數目 HK$ per share ’000 HK$ per share ’000 每股港元 千股 每股港元 千股
	0.385 0.385 0.259 0.259	9,200 – (9,200) – 9,800 0.385 9,800 0.385	– – 9,200
			9,200

The exercise prices and exercise periods of the share options outstanding as at the end of the reporting period are as follows:

於報告期末尚未行使之購股權之行使價及行使期如 下：

		Exercise prices
	Number of	HK$
	options	per share	Exercise periods
		行使價
	購股權數目	每股港元	行使期
31 March 2020	3,500,000	0.259	1 July 2021 to 1 January 2025
二零二零年三月三十一日			二零二一年七月一日至二零二五年一月一日
	3,300,000	0.259	2 January 2021 to 1 January 2025
			二零二一年一月二日至二零二五年一月一日
	3,000,000	0.259	1 July 2021 to 1 January 2025
			二零二一年七月一日至二零二五年一月一日
31 March 2019	4,500,000	0.385	3 March 2019 to 3 September 2023
二零一九年三月三十一日			二零一九年三月三日至二零二三年九月三日
	4,700,000	0.385	3 March 2020 to 3 September 2023
			二零二零年三月三日至二零二三年九月三日

The Group recognised a share option expense of HK$845,000 (2019: HK$1,166,000) during the year ended 31 March 2020.

本集團於截至二零二零年三月三十一日止年度確認 購股權開支845,000港元（二零一九年：1,166,000港 元）。

The 9,200,000 share options cancelled during the year resulted in the acceleration of the share option expenses for the Share Option Scheme of HK$98,000 and recognised in profit or loss in current year. The corresponding Group’s share option reserve for the 9,200,000 share options was transferred to accumulated profits.

於年內註銷9,200,000份購股權導致加快購股權計劃 項下的購股權開支98,000港元，並於本年度於損益 確認。本集團9,200,000份購股權的相應購股權儲備 轉撥至累計溢利。

124 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

34. SHARE OPTION SCHEME (CONTINUED)

At the end of the reporting period, the Company had 9,800,000 (2019: 9,200,000) share options outstanding under the Share Option Scheme. The exercise in full of the outstanding share options would, under the present capital structure of the Company, result in the issue of 9,800,000 (2019: 9,200,000) additional ordinary shares of the Company and additional share capital of HK$98,000 (2019: HK$92,000) and share premium of HK$2,440,000 (2019: HK$3,450,000) (before issue expenses).

At the date of approval of these financial statements, the Company had 9,800,000 share options outstanding under the Share Option Scheme, which represented approximately 2.5% of the Company’s shares in issue as at that date.

35. SHARE AWARD SCHEME

On 5 November 2018, the Company adopted a share award scheme (the “ Share Award Scheme ”) for the purpose of recognising the contributions by certain eligible persons for the growth and development of the Group and to provide them with incentives in order to retain them for the continual operation and development of the Group.

Eligible persons of the Share Award Scheme include any employee of the Group; any executive or non-executive director (including any independent non-executive director) of the Company, any of its subsidiaries, customers, suppliers, any person or entity that provides research, development or other technological support, shareholders of any member of the Group or any invested entities, any person or entity which has contributed to the Group or its business; and any other person selected by the board of directors, and if applicable, including its executive committee at its sole discretion, provided that the eligible persons for participation in the Share Award Scheme (the “ Selected Participants ”) remain at all times after the date of grant and on the relevant vesting date being eligible persons of the Group.

The maximum number of shares currently permitted to be granted under the Share Award Scheme is limited to 10% of the total number of issued shares as at the date on which the Share Award Scheme is adopted by the board of directors. The maximum number of shares which may be awarded to each eligible person in the Share Award Scheme in any 12-month period is limited to 1% of the total number of shares in issue of the Company from time to time.

Selected Participants are selected and the number of shares to be awarded under the Share Award Scheme is determined by the board of directors. The shares to be awarded under the Share Award Scheme are purchased by a trustee (the “ Trustee ”) from the open market out of cash contributed by the Group or by way of gift and be held on trust for the Selected Participants until such shares are vested with the Selected Participants in accordance with the provisions of the Share Award Scheme.

34. 購股權計劃（續）

於報告期末，本公司根據購股權計劃有9,800,000 份（二零一九年：9,200,000份）尚未行使之購股權。 根據本公司的現行資本架構，全面行使尚未行使 的購股權將導致額外發行9,800,000股（二零一九 年：9,200,000股）本公司普通股，並額外產生股本 98,000港元（二零一九年：92,000港元）及股份溢價 2,440,000港元（二零一九年：3,450,000港元）（未計 發行開支）。

於批准該等財務報表日期，本公司根據購股權計劃 有9,800,000份尚未行使之購股權，相當於當日本公 司已發行股份約2.5%。

35. 股份獎勵計劃

於二零一八年十一月五日，本公司採納一項股份獎 勵計劃（「 股份獎勵計劃 」），旨在肯定若干合資格人 士對本集團增長及發展所作貢獻及就此給予獎勵， 以留聘彼等為本集團持續經營及發展。

股份獎勵計劃的合資格人士包括本集團任何僱員； 本公司任何執行或非執行董事（包括任何獨立非執行 董事）、其任何附屬公司、客戶、供應商、提供研 究、開發或其他技術支援之任何人士或實體、本集 團任何成員公司或任何被投資實體之股東、對本集 團或其業務有貢獻之任何人士或實體；及董事會全 權酌情甄選之任何其他人士，包括其執行委員會（倘 適用），惟參與股份獎勵計劃的合資格人士（「 獲選參 與者 」）於授出日期後至有關歸屬日期一直為本集團 合資格人士。

根據股份獎勵計劃獲准授出的最高股份數目以於董 事會採納股份獎勵計劃當日已發行股份總數的10% 為限。根據於任何12個月期間內的股份獎勵計劃可 能不時授予各合資格人士的最高股份數目以本公司 不時已發行股份總數的1%為限。

獲選參與者由董事會選定，而根據股份獎勵計劃將 予授出的股份數目由董事會釐定。根據股份獎勵計 劃將予授出的股份將由受託人（「 受託人 」）以本集團 提供的現金於公開市場購入或以餽贈注入，並以信 託形式代獲選參與者持有，直至該等股份根據股份 獎勵計劃條文歸屬予相關獲選參與者為止。

高萌科技集團有限公司 • 二零一九/ 二零年年報 125

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

35. SHARE AWARD SCHEME (CONTINUED)

35. 股份獎勵計劃（續）

The Trustee shall not exercise the voting rights in respect of any shares held on trust for the Group or the Selected Participants.

受託人不得以本集團或獲選參與者信託名義持有的 任何股份行使投票權。

During the year ended 31 March 2020, the Company purchased 1,665,000 of its own shares through the Trustee from open market. The total amount paid to acquire the shares was HK$406,000 and has been deducted from equity. In addition, 2,000,000 shares were contributed by Mr. KM Luk, the controlling shareholder and an executive director of the Company to the trust of the Share Award Scheme as gift. The fair value of those shares contributed amounted to HK$452,000. The aggregate amount paid to acquire the shares and the fair value of the share contribution of HK$858,000 has been deducted from equity and classified as treasury shares of the Company as they were not yet awarded to any selected participants.

於截至二零二零年三月三十一日止年度，本公司透 過受託人自公開市場購入其本身股份1,665,000股。 就收購股份所支付總金額為406,000港元，已自權益 中扣除。此外，2,000,000股股份由本公司控股股東 及執行董事陸鑑明先生作為餽贈注入股份獎勵計劃 之信託。該等注入股份之公允值為452,000港元。就 收購股份支付之總金額及股份注入之公允值858,000 港元，由於尚未授予任何獲選參與者，已自權益扣 除並分類為本公司的庫存股份。

The movements in the Company’s shares held under the Share Award Scheme during the year are as follows:

股份獎勵計劃項下持有之本公司股份於年內之變動 如下：

At 1 April 2019 於二零一九年四月一日 Purchases of shares for the Share Award Scheme 就股份獎勵計劃購買股份 Gifting of shares 贈與股份 At 31 March 2020 於二零二零年三月三十一日	Shares held under the Share Award Scheme 根據股份獎勵 計劃持有之股份 Number of ordinary shares Value of shares 普通股數目 股份價值 HK$’000 千港元
	– – 1,665,000 406 2,000,000 452
	3,665,000 858

During the year, the Company did not award any shares to any eligible participant under the Share Award Scheme (2019: Nil).

36. COMPARATIVE AMOUNTS

年內，本公司並無根據股份獎勵計劃向任何合資格 參與者授予任何股份（二零一九年：無）。

36. 比較金額

Certain comparative amounts have been reclassified to conform to the current year’s presentation.

若干比較金額已重新分類以符合本年度的呈報。

126 KML Technology Group Limited • Annual Report 2019/20

Notes to Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 March 2020 截至二零二零年三月三十一日止年度

37. STATEMENT OF FINANCIAL POSITION OF THE 37. 本公司財務狀況表 COMPANY

						2020	2019
					二零二零年		二零一九年
						HK$’000	HK$’000
						千港元	千港元
NON-CURRENT ASSETS		非流動資產
Investments in subsidiaries		於附屬公司的投資				107,549	107,549
Amount due from a subsidiary		應收一間附屬公司款項				–	29,057
						107,549	136,606
CURRENT ASSETS		流動資產
Amount due from a subsidiary		應收一間附屬公司款項				29,215	–
Prepayments		預付款項				848	305
Bank balances and cash		銀行結餘及現金				13	2
						30,076	307
CURRENT LIABILITIES		流動負債
Accrued charges		應計費用				140	180
Net current assets		流動資產淨值				29,936	127
Net assets		資產淨值				137,485	136,733
CAPITAL RESERVES		資本儲備
Share capital		股本				4,000	4,000
Reserves (note)		儲備（附註）				133,485	132,733
Equity attributable to owners of the Company		本公司擁有人應佔權益				137,485	136,733
Note:				附註：
A summary of the Company’s reserves is as follows:				本公司儲備概述如下：
			Share	Other	Share option	Accumulated
			premium	reserves	reserve	losses	Total
			股份溢價	其他儲備	購股權儲備	累計虧損	總計
			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
					(note 34)
					（附註34）
At 1 April 2018	於二零一八年四月一日		47,552	107,549	–	(18,334)	136,767
Loss for the year	年內虧損		–	–	–	(5,200)	(5,200)
Equity-settled share option	權益結算購股權安排（附註34）
arrangements (note 34)			–	–	1,166	–	1,166
At 31 March 2019 and 1 April 2019	於二零一九年三月三十一日及
	二零一九年四月一日		47,552	107,549	1,166	(23,534)	132,733
Loss for the year	年內虧損		–	–	–	(93)	(93)
Equity-settled share option	權益結算購股權安排（附註34）
arrangements (note 34)			–	–	845	–	845
Cancellation of share options (note 34)	購股權註銷（附註34）		–	–	(1,706)	1,706	–
At 31 March 2020	於二零二零年三月三十一日		47,552	107,549	305	(21,921)	133,485

38. APPROVAL OF THE CONSOLIDATED FINANCIAL STATEMENTS

38. 批准綜合財務報表

The consolidated financial statements were approved and authorised for issue by the board of directors on 18 June 2020.

綜合財務報表由董事會於二零二零年六月十八日批 准並授權刊發。

127

高萌科技集團有限公司 • 二零一九/ 二零年年報

Financial Summary 財務概要

RESULTS 業績 Revenue 收益 Profit before tax 除稅前溢利 Income tax expense 所得稅開支 Profit/(loss) for the year and total comprehensive income/(loss) for the year attributable to owners of the Company 本公司擁有人應佔 年內溢利╱（虧損）及 年內全面收益╱ （虧損）總額 ASSETS AND LIABILITIES 資產及負債 Total assets 總資產 Total liabilities 總負債 Equity attributable to owners of the Company 本公司擁有人應佔權益	For the year ended 31 March 截至三月三十一日止年度 2020 2019 2018 2017 2016 二零二零年 二零一九年 二零一八年 二零一七年 二零一六年 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元
	224,228 210,596 193,973 171,116 163,821
	26,535 23,474 712 16,065 26,561 (4,923) (4,219) (2,858) (2,738) (4,408)
	21,612 19,255 (2,146) 13,327 22,153
	As at 31 March 於三月三十一日 2020 2019 2018 2017 2016 二零二零年 二零一九年 二零一八年 二零一七年 二零一六年 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元
	236,418 189,015 166,692 141,372 137,940 (70,232) (44,880) (42,889) (41,975) (41,870)
	166,186 144,135 123,803 99,397 96,070

128 KML Technology Group Limited • Annual Report 2019/20

KML Technology Group Limited 高萌科技集團有限公司