Fujikon Industrial : INTERIM REPORT 2019/2020

Business review

業務回顧

Owing to an increase in revenue from both the headsets and headphones

截至2019 年9月30日止6個月（「期內」）來自戴咪耳機

as well as the accessories and components segments during the six months

及音響耳機以及配件及零件分部的收入有所增加，故整

ended 30 September 2019 (the "Period"), overall revenue rose to HK$806.3

體收入增長至806,300,000港元（2018：743,700,000港

million (2018: HK$743.7 million), representing a year-on-year increase of

元），同比增長8.4%。儘管呆貨撥備激增導致銷售成本

8.4%. Gross profit rose by 5.1% year-on-year to HK$156.6 million (2018:

攀升，毛利仍同比增長5.1%至156,600,000港元（2018：

HK$149.1 million), despite an upsurge in provision for obsolete stock leading

149,100,000港元）。因此，本集團的期內溢利錄得6.8%

to a rise in cost of sales. Accordingly, the Group's profit for the period

之增長至55,400,000 港元（2018：51,900,000 港元）。

recorded growth of 6.8% to HK$55.4 million (2018: HK$51.9 million). As a

由於大部分溢利乃源自本集團的非全資附屬公司，故

large portion of profit was generated from the Group's non-wholly owned

錄得之歸屬本公司股權持有人的溢利為33,9 0 0,0 0 0 港

subsidiary, profit attributable to equity holders was recorded at HK$33.9

元（2018：37,300,000港元）。每股基本盈利為7.96港仙

million (2018: HK$37.3 million). Basic earnings per share were HK7.96 cents

（2018：8.84港仙）。

(2018: HK8.84 cents).

Business segment analysis

業務分部分析

Headsets and Headphones

戴咪耳機及音響耳機

Leveraging the Group's sterling reputation for advancing innovative

本集團憑藉先進創新科技享譽業界，並專注開發具備

technologies, and its focus on developing sophisticated and distinct products

最新技術突破的精密獨特產品，尤其是藍牙功能及主

featuring the latest technological breakthroughs, particularly Bluetooth-

動式降噪（「主動式降噪」）解決方案，同時持續致力

enabled and active noise cancellation ("ANC") solutions, complemented by

優化客戶組合，側重發展重視本集團實力且具高增長

the Group's ongoing efforts to refine its customer portfolio with an emphasis

潛力的客戶，從而於財政年度之初延續良好銷售勢頭。

on customers that value the Group's strengths and possess high growth

然而，隨著中美貿易爭端於5月進一步升級，美方宣佈

potential, sales momentum was sustained at the beginning of the financial

對餘下價值約3,000億美元的中國進口商品加徵關稅，

year. However, as trade tensions between China and the US further escalated

本集團客戶相應採取更為謹慎的策略，包括調整訂單

in May, the result of an announcement by the latter that tariffs would extend

預測及延遲部分訂單，保持觀望態度。

to include the remaining US$300 billion or so worth of Chinese imports, the

Group's customers duly adopted a more prudent approach. This included

adjusting their order forecasts, as well as delaying the placement of certain

orders consistent with a "wait-and-see" approach.

Revenue from the headsets and headphones business was consequently

戴咪耳機及音響耳機業務的收入受上述發展影響，微

affected by the aforementioned developments, rising modestly to HK$577.7

升至577,700,000港元（2018：566,200,000港元），佔總

million (2018: HK$566.2 million), and accounting for 71.6% of total revenue.

收入的71. 6%。然而，由於呆貨撥備增加，錄得分部溢

However, due to an increase in the provision for obsolete stock, segment

利16,200,000港元（2018：25,300,000港元）。

profit of HK$16.2 million (2018: HK$25.3 million) was recorded.

Accessories and Components

配件及零件

The accessories and components business remained an important part

配件及零件業務仍為本集團垂直整合過程的重要一

of the Group's vertical integration efforts. Due to an increase in orders

環。由於本集團包裝業務因客戶推出新產品而獲訂單

from the Group's packaging business resulting from the launch of a new

增加，分部收入同比攀升28 . 8 % 至2 28 , 6 0 0 , 0 0 0 港元

product by a customer, segment revenue climbed by 28.8% year-on-year to

（2018：177,500,000 港元），佔總收入的28 . 4%。分部

HK$228.6 million (2018: HK$177.5 million), and accounted for 28.4% of total

溢利亦有所增長，增加 45.9%至47,400,000港元（2018：

revenue. Segment profit also increased, rising by 45.9% to HK$47.4 million

32,500,000 港元）。該業務分部表現亮麗，為本集團提

(2018: HK$32.5 million). The performance not only highlights the growing

供穩定補充收入，其重要性日益突顯，並有效滿足客戶

importance of the segment as a stable source of supplementary income to

需求。

the Group, but also reflects its effectiveness in addressing customers' needs.

Prospects

展望

The ongoing trade tensions between China and the US has centred

中美貿易爭端持續未解，雙方相互加碼報復性關稅。最

around reciprocal tariff increases. More recently, the United States Trade

近，美國貿易代表署（「U S T R」）宣佈將對尚未納入關

Representative (the "USTR") announced that an additional tariff would be

稅清單的價值約3,000億美元的中國進口商品加徵額外

imposed on approximately US$300 billion worth of Chinese imports that had

關稅。部分關稅於2019年9月1日生效，而餘下關稅將於

not yet been targeted. A part of the tariff would take effect on 1 September

2019年12月15日實施，本集團勢必受到影響。由於關稅

2019, with the remaining tariff to be implemented on 15 December 2019,

將由本集團的美國客戶承擔，預期客戶日後訂購將會相

hence the Group will invariably be impacted. As the Group's customers in the

對趨於保守，從而增添不確定性。有鑒於此，富士高將

US would be responsible for paying the tariff, it can be expected that they

採取措施應對未來挑戰，包括招攬離岸製造合作夥伴，

will adopt a relatively conservative approach towards placing orders going

並於適當時候採取其他審慎舉措。

forward, thus leading to greater uncertainties. Fujikon will therefore take

steps to tackle the challenges ahead, including the recruitment of offshore

manufacturing partners, as well as taking other measured actions as and

when deemed appropriate.

Fully aware of the volatility in the coming few months, Fujikon holds

未來數月料將持續動盪，富士高對下半年業務前景持保

reservations about the business outlook for the second half of the financial

留態度，且將會加倍警惕。面對當前嚴峻形勢，本集團

year and will be extra vigilant. Under this testing environment, the Group

將致力增強核心優勢，藉此提升市場競爭力。本集團將

will strive to enhance its core strengths and thus raise its competitiveness

進一步增強工程及製造實力，這為開發精密定制的電

in the market. Engineering and manufacturing capabilities which are the

聲產品奠下至關重要的根基。透過上述種種措施，本集

fundamentals for the Group to develop sophisticated and customised electro-

團將可享獲更大市場差異性，同時發掘增長潛力較高

acoustic products will be further bolstered. In this way, the Group will be

的優質品牌需求，進一步優化其客戶組合。

able to achieve greater market differentiation, while at the same time further

refine its client portfolio by tapping demand from premium brands with high

growth potential.

Raising operational efficiency will be another important objective of

提升營運效益將會是本集團另一項重要目標。因此，本

the Group. Correspondingly, it will continue to direct resources towards

集團將繼續調配資源投資資訊科技系統及機器設備，

investment in IT systems and machinery to increase flexibility, enhance

以增強生產靈活性、提高生產效率及提升生產成本效

efficiency and improve the cost effectiveness in production. The Group will

益。本集團亦將進一步提升生產設施自動化水平，形成

also further enhance automation at its production facilities so as to achieve

理想的人機比例，從而實現提效降本，最終達致資源最

an ideal human-to-machinery ratio, which in turn results in greater efficiency

佳利用。

and lower costs, leading ultimately to the optimum use of resources.

Another step Fujikon has and will continue to take is the restructuring of

此外，富士高一直並將繼續調整其供應鏈結構，藉此

its supply chain, through which the Group is able to procure stable sources

可以較低成本自既定供應商取得穩定的關鍵零部件供

This will allow the Group to not only control costs and raise procurement

決材料短缺問題。此外本集團一直致力進行生產材料

and production efficiency, but also to tackle material shortages. Together

規劃及庫存管理，庫存水平得以改善。相比上個年度，

with its persistent efforts in production material planning and inventory

於2019年9月30日，就價值而言庫存減少逾30%。

management, the Group has already managed to improve its inventory level,

with inventory down by over 30% in terms of value as at 30 September

2019, when compared with the preceding year.

Amid rapidly changing and unpredictable market conditions, especially with

有見市況多變難料，尤其是貿易戰增添種種變數，管理

uncertainties brought by the trade war, the management is fully aware of

層深知需時刻警惕應對挑戰，並將繼續制定靈活多變

the need to be constantly alert to challenges and will remain committed

的發展戰略，同時實施有效成本控制措施，鞏固其市場

to devising development strategies in an adaptive and responsive manner,

領先地位。透過上述種種舉措，本集團定能持續穩步前

as well as implementing effective cost controls to consolidate its market

進，為股東創造更大價值。

leadership. In this way, the Group will also be able to continue forging

ahead, leading to greater value creation for its shareholders.

Financial review

財務回顧

Liquidity and Financial Resources

流動資金及財務資源

The Group maintained at a strong financial position. Net current assets as

本集團維持強健的財務狀況。於2 0 19 年9月3 0日，流

at 30 September 2019 amounted to approximately HK$583.9 million (31

動資產淨值約為583,9 0 0,0 0 0 港元（2019 年3月31日：

March 2019: HK$573.9 million). The Group's current and quick ratios were

573,9 0 0,0 0 0 港元）。本集團之流動及速動比率分別約

approximately 2.9 times (31 March 2019: 2.9 times) and 2.2 times (31 March

為2.9倍（2019年3月31日：2.9倍）及2.2倍（2019年3月31

2019: 1.9 times), respectively.

日：1.9倍）。

The Group had cash and cash equivalents of approximately HK$309.5 million

本集團於2 0 19 年9月3 0 日之現金及現金等價物約為

as at 30 September 2019, representing an increase of approximately 17.6%

309,500,000 港元，較2019年3月31日約為263,100,000

against approximately HK$263.1 million as at 31 March 2019. Approximately

港元上升約17. 6 %。現金及現金等價物中約7 7. 6 %、

77.6%, 16.9% and 3.4% of the total cash and cash equivalents were

16 . 9 %及3 . 4%分別為美元、人民幣及港元計值，其餘

denominated in US dollars, Renminbi and Hong Kong dollars respectively,

則為其他貨幣計值。於2019 年9月30日，本集團之銀行

and the remainders were in other currencies. As at 30 September 2019, the

信貸額合共約為16 0,6 0 0,0 0 0 港元（2019 年3月31日：

Group had aggregated banking facilities of approximately HK$160.6 million (31

160,600,000 港元）作貸款及貿易信貸，該信貸額可供

March 2019: HK$160.6 million) for loans and trade financing, which were

完全使用。

fully available for use.

Foreign Exchange Exposure

外匯風險

The Group mainly operates in Hong Kong and China with most transactions

本集團主要於香港及中國經營業務，交易主要以港元、

settled in Hong Kong dollars, Renminbi and US dollars. The Group is mainly

人民幣及美元結算。本集團所承擔之外匯風險主要來

exposed to foreign exchange risk arising from future commercial transactions,

自未來商業交易、確認以集團實體相關功能貨幣以外

recognised assets and liabilities denominated in currencies other than the

之貨幣結算之資產及負債。

functional currency of the group entities to which they relate.

During the Period, the Group had recorded a net foreign exchange gain

於期內，本集團錄得匯兌收益淨額約7, 5 0 0 , 0 0 0 港元

of approximately HK$7.5 million (2018: HK$7.1 million) mainly due to the

（2018：7,100,000港元），主要由於人民幣貶值引致。

depreciation of Renminbi.

The Group will continuously monitor and enter foreign exchange forward

會持續監控外匯風險並於適當時候訂立外匯遠期合

contracts where appropriate.

約。

Financial review (Continued)

財務回顧（續）

Employee Information

僱員資料

As at 30 September 2019, the Group employed a total of approximately 4,600

於2019年9月30日，本集團共聘用約4,600名（2019年3月

(31 March 2019: 4,500) employees. The staff costs (including the directors'

31日：4,50 0 名）僱員。於期內，僱員支出（包括董事酬

emoluments) accounted for approximately HK$207.8 million during the

金）約為207,800,000港元（2018：208,400,000港元）。

Period (2018: HK$208.4 million).

The Group has developed its human resources policies and procedures based

本集團亦根據工作表現及成績制訂人力資源政策及程

on performance and merit. Employees are rewarded on a performance-

序。僱員報酬是根據慣常之薪酬及花紅制度按員工表

Discretionary bonus is linked to the profit performance of the Group as well

工之表現而定，而僱員褔利已包括宿舍、醫療計劃、購

as individual performance. Benefits include staff accommodation, medical

股權計劃、香港僱員之強制性公積金計劃及中國僱員

schemes, share option scheme, Mandatory Provident Fund for employees in

之國家退休金計劃。本集團亦已為其管理層及僱員提供

Hong Kong and state-sponsored retirement plans for employees in China. 培訓計劃，以確保彼等獲得適當培訓。

The Group has also provided training programs to its management and

employees to ensure they are properly trained.

Financial Guarantee

財務擔保

As at 30 September 2019, the Company had provided corporate guarantees

於2019 年9月3 0日，本公司提供約為155,70 0,0 0 0 港元

of approximately HK$155.7 million (31 March 2019: HK$155.7 million) to

（2019 年3月31日：155,70 0,0 0 0 港元）之企業擔保，以

secure banking facilities of its subsidiaries. No facilities were utilised by the

作為其附屬公司之銀行融資之擔保。於2019年9月30日

subsidiaries as at 30 September 2019 and 31 March 2019.

及2019年3月31日，附屬公司並沒有使用任何信貸額。

The directors (the "Directors") of Fujikon Industrial Holdings Limited (the

富士高實業控股有限公司（「本公司」）董事（「董事」）

"Company") have pleasure in presenting the interim report together with

欣然提呈本公司及其附屬公司（統稱「本集團」）截至

the condensed consolidated financial information of the Company and its

2019 年9月30日止6個月（「期內」）之中期報告及簡明

subsidiaries (together the "Group") for the six months ended 30 September

綜合財務資料。

2019 (the "Period").

The condensed consolidated financial information set out on pages 17 to

第17至42頁所載簡明綜合財務資料未經審核，惟已由本

42 are unaudited, which have been reviewed by the audit committee of

公司之審核委員會（「審核委員會」）及羅兵咸永道會

the Company (the "Audit Committee") and PricewaterhouseCoopers in

計師事務所遵照香港會計師公會頒佈之香港審閱準則

accordance with Hong Kong Standard on Review Engagements 2410, "Review

第2410 號「由實體的獨立核數師執行中期財務資料審

of Interim Financial Information Performed by the Independent Auditor of the

閱」進行審閱。

Entity", issued by the Hong Kong Institute of Certified Public Accountants.

Interim dividend

中期股息

The board (the "Board") of Directors has resolved to declare an interim

董事會（「董事會」）議決宣派期內中期股息每股普通

dividend of HK2.0 cents (2018: HK4.0 cents) per ordinary share for the

股2.0港仙（2018：4.0港仙）。中期股息將於2019年12月

Period. The interim dividend is expected to be paid on or around 27

27日或前後向於2019年12月9日名列本公司股東名冊之

December 2019 to shareholders whose names are registered in the books of

股東派付。

the Company on 9 December 2019.

Closure of register of members

暫停辦理股份過戶登記

In order to determine the entitlement to the interim dividend for the Period,

為確定取得期內中期股息之資格，本公司將於2019年12

the register of members will be closed from Monday, 9 December 2019 to

月9日星期一至2019年12月11日星期三（包括首尾兩天）

Wednesday, 11 December 2019 (both days inclusive) during which period

暫停辦理股份過戶登記手續，在此期間將不進行任何

no transfer of shares will be effected. In order to qualify for the interim

股份過戶。為符合資格收取中期股息，股東須於2019年

dividend, all transfers of share accompanied by the relevant share certificates

12月6日星期五下午4時30分前將所有過戶文件連同有關

must be lodged with the Company's Hong Kong branch share registrar, Hong

股票送抵本公司之香港股份過戶登記分處香港證券登

Kong Registrars Limited, at Rooms 1712-16, 17/F, Hopewell Centre, 183

記有限公司，地址為香港灣仔皇后大道東183號合和中

Queen's Road East, Wan Chai, Hong Kong not later than 4:30 pm on Friday,

心17樓1712-16號舖辦理過戶手續。

6 December 2019 for registration.

As at 30 September 2019, the Directors and chief executive of the Company

於2019 年9月30日，本公司董事及主要行政人員於本公

had the following interests or short positions in the shares, underlying

司或其聯營公司（定義見香港法例第571章證券及期貨

shares and debentures of the Company or its associated corporations (within

條例（「證券及期貨條例」）第XV部）之股份、相關股份

the meaning of Part XV of the Securities and Futures Ordinance (Chapter

及債券中擁有下列須記入根據證券及期貨條例第352條

571 of the Laws of Hong Kong) (the "SFO")) as recorded in the register

所存置之登記冊，或根據上市發行人董事進行證券交

required to be kept under section 352 of the SFO, or as otherwise notified

易的標準守則須知會本公司及香港聯合交易所有限公司

to the Company and The Stock Exchange of Hong Kong Limited (the "Stock

（「聯交所」）之權益或淡倉：

Exchange") pursuant to the Model Code for Securities Transactions by

Directors of Listed Issuers:

Interests in the Company

於本公司之權益

Number of

underlying Shares

(in respect of

Number of ordinary shares of

share options) (4)

HK$0.10 each (the "Shares")

相關股份數目

每股0.10港元之普通股（「股份」）數目

（就購股權而言）(4)

Interest of

*Approximate

Beneficial

Beneficiary

controlled

Beneficial

percentage of

Name of Director

interests

of a trust

corporations

interests

Total

shareholding

董事姓名

實益權益

信託權益

受控制法團權益

實益權益

總計

*概約持股百分比

Directors' and chief executive's interests in

董事及主要行政人員於本公司或其聯營公

shares, underlying shares and debentures of

司之股份、相關股份及債券之權益（續）

the Company or its associated corporations

(Continued)

Notes: (Continued)

附註：（續）

3. The 70,571,500 Shares are held by Asia Supreme Limited, a private limited

3.

該70,571,500股股份由Asia Supreme Limited持有，Asia

company beneficially wholly owned by Mr. Chow Man Yan, Michael.

Supreme Limited為一間由周文仁先生全資實益擁有的私

人有限公司。

4. Share options were granted to the Directors under the share option schemes

4.

購股權乃根據本公司購股權計劃授予董事，購股權計劃

of the Company, details of which are separately disclosed under the paragraph

詳情於下文「購股權計劃之資料」一段中另行披露。

headed "Information on share option schemes" below.

Save as disclosed above, none of the Directors and chief executive of the

除上文所披露者外，於2019 年9月30日，概無本公司董

Company had any interests and short positions in the Shares, underlying

事及主要行政人員於本公司或其聯營公司（定義見證券

Shares and debentures of the Company or its associated corporations (within

及期貨條例）之股份、相關股份及債券中擁有任何須記

the meaning of the SFO) as recorded in the register required to be kept

入根據證券及期貨條例第352條所存置之登記冊之權益

under section 352 of the SFO, or as otherwise required to be notified to the

及淡倉，或根據上市發行人董事進行證券交易的標準

Company and the Stock Exchange pursuant to the Model Code for Securities

守則須知會本公司及聯交所之權益及淡倉。

Transactions by Directors of Listed Issuers as at 30 September 2019.

Information on share option schemes

購股權計劃之資料

The Company has adopted share option schemes under which it may grant

本公司已採納購股權計劃。據此，本公司可向合資格參

options to eligible participants (including executive Directors) to subscribe

與者（包括執行董事）授出可認購股份之購股權。

for the Shares.

The share option scheme adopted by the Company on 21 August 2002

本公司於2 0 0 2 年8月2 1日採納的購股權計劃（「舊計

(the "Old Scheme") was terminated on 3 August 2012 and an ordinary

劃」）已於2012年8月3日終止，而於2012年8月3日通過

resolution was passed on 3 August 2012 to adopt a new share option

一項普通決議案採納符合聯交所證券上市規則（「上市

scheme (the "New Scheme") which complies with Chapter 17 of the Rules

規則」）第17章規定之新購股權計劃（「新計劃」）。

Governing the Listing of Securities on the Stock Exchange (the "Listing

Rules").

Information on share option schemes (Continued)

購股權計劃之資料（續）

No options were been granted under the New Scheme during the Period and

期內概無根據新計劃授出購股權及根據舊計劃由董事

the following table discloses movements of the share options held by the

持有之購股權於期內變動披露如下：

Directors under the Old Scheme during the Period:

Number of underlying Shares

相關股份數目

Granted

Exercised

Lapsed

Subscription

Exercise period

Beginning of

during the

during the

during the

End of the

price per

Date of

(dd/mm/yyyy)

Name of Director

the Period

Period

Period

Period

Period

Share

grant

行使期間

Note

董事姓名

期初

期內授出

期內行使

期內失效

期終

每股認購價

授出日期

（日╱月╱年）

附註

'000

'000

'000

'000

'000

(HK$)

千股

千股

千股

千股

千股

（港元）

Yuen Yee Sai, Simon

源而細

410

-

-

-

410

1.10

28/3/2012

28/03/2013 - 27/03/2022

2

Yuen Chi King, Wyman

源子敬

2,020

-

-

-

2,020

1.10

28/3/2012

28/03/2013 - 27/03/2022

2

2,000

-

-

-

2,000

1.10

28/3/2012

28/03/2014 - 27/03/2022

3

Chow Lai Fung

周麗鳳

1,000

-

-

-

1,000

1.10

28/3/2012

28/03/2013 - 27/03/2022

2

2,000

-

-

-

2,000

1.10

28/3/2012

28/03/2014 - 27/03/2022

3

總計：

Total:

7,430

-

-

-

7,430

Notes:

附註：

(1) The closing price of the Shares as stated in the Stock Exchange's daily quotations

(1)

緊接購股權授出日期前，聯交所發佈每日報價表上所列

sheet immediately before the dates on which the options were granted were as

之股份收市價載列如下：

follows:

Closing price per Share immediately before the date of grant (HK$)

Date of grant

授出日期

緊接授出日期前每股收市價（港元）

Information on share option schemes (Continued)

購股權計劃之資料（續）

Save as disclosed above, at no time during the Period was the Company or

除上文所披露者外，於期內任何時間，本公司或其任何

any of its subsidiaries or holding companies a party to any arrangements

附屬公司或控股公司並無參與任何安排，致使任何董

to enable any of the Directors or the Company's chief executive to acquire

事或本公司主要行政人員可藉購入本公司或任何其他

benefits by means of the acquisition of Shares in, or debt securities (including

法人團體之股份或債務證券（包括債券）而取得利益。

debentures) of, the Company or any other body corporate.

Substantial shareholders' interests in the shares

主要股東於本公司股份及相關股份之權益

and underlying shares of the Company

The following persons (not being a Director or chief executive of the

以下人士（並非本公司董事或主要行政人員）於2019年

Company) had interests or short positions in the Shares and underlying

9月30日持有已發行普通股之5%或以上之股份及相關

Shares as at 30 September 2019 amounting to 5% or more of the ordinary

股份之權益或淡倉，而須根據證券及期貨條例第X V 部

shares in issue which would fall to be disclosed to the Company under the

第2及第3分部規定向本公司披露，並且已載入本公司根

provisions of Divisions 2 and 3 of Part XV of the SFO and which have been

據證券及期貨條例第336條存置之登記冊。

recorded in the register kept by the Company pursuant to the section 336 of

the SFO.

*Approximate

Number of

percentage of

Name of shareholder

Shares

Capacity

Note

interest

股東名稱╱姓名

股份數目

身份

附註

*概約權益百分比

Sky Talent Enterprises Limited

64,571,500

Beneficial owner

2

15.16%

實益擁有人

Asia Supreme Limited

70,571,500

Beneficial owner

3

16.57%

實益擁有人

Loyal Fair Group Limited

42,571,500

Beneficial owner

4

10.00%

實益擁有人

Golden Hope Financial Limited

42,571,500

Interest of controlled corporation

4

10.00%

受控制法團之權益

Silverfun Property (PTC) Ltd

42,571,500

Trustee (other than a bare trustee)

4

10.00%

信託人（被動信託人除外）

Substantial shareholders' interests in the shares

主要股東於本公司股份及相關股份之權益

and underlying shares of the Company (Continued)

（續）

*Approximate

Number of

percentage of

Name of shareholder

Shares

Capacity

Note

interest

股東名稱╱姓名

股份數目

身份

附註

*概約權益百分比

Encyclia Investments (PTC) Limited

42,571,500

Trustee (other than a bare trustee)

5

10.00%

信託人（被動信託人除外）

Ms. Yan Yau Tai, Ellen

54,328,500

Interest of spouse

6

12.76%

殷有娣女士

配偶之權益

Ms. Leung Woon Yee

64,982,500

Interest of spouse

7

15.26%

梁煥儀女士

配偶之權益

Ms. Cai Liting

78,926,500

Interest of spouse

8

18.53%

蔡麗婷女士

配偶之權益

Ms. Zong Xiao Cui

74,591,500

Interest of spouse

9

17.52%

宗小翠女士

配偶之權益

Mr. David Michael Webb

15,169,000

Beneficial owner

3.56%

David Michael Webb先生

實益擁有人

Mr. David Michael Webb

27,007,000

Interest of controlled corporation

10

6.34%

David Michael Webb先生

受控制法團之權益

Preferable Situation Assets Limited

27,007,000

Beneficial owner

10

6.34%

實益擁有人

* The percentage has been compiled based on the total number of Shares in issue

* 有關百分比乃按於2019 年9月30日已發行股份總數（即

(i.e. 425,839,000 Shares) as at 30 September 2019.

425,839,000股股份）計算。

Substantial shareholders' interests in the shares

主要股東於本公司股份及相關股份之權益

and underlying shares of the Company (Continued)

（續）

Notes: (Continued)

附註：（續）

5.

Encyclia Investments (PTC) Limited was the trustee of Yeung Family Trust, a

5.

Enc yclia I nve s t m e nt s (P TC ) L imite d 為全權信託基金

discretionary trust and the objects of which were the family members of Mr.

Yeung Family Trust之信託人，而Yeung Family Trust之受

Yeung Chi Hung, Johnny, including Mr. Yeung Siu Chung, Ben.

益人為楊志雄先生的家族成員，包括楊少聰先生。

6.

Ms. Yan Yau Tai, Ellen is the wife of Mr. Yeung Chi Hung, Johnny.

6.

殷有娣女士為楊志雄先生之妻子。

7.

Ms. Leung Woon Yee is the wife of Mr. Yuen Yee Sai, Simon.

7.

梁煥儀女士為源而細先生之妻子。

8.

Ms. Cai Liting is the wife of Mr. Chow Man Yan, Michael.

8.

蔡麗婷女士為周文仁先生之妻子。

9.

Ms. Zong Xiao Cui is the wife of Mr. Yeung Siu Chung, Ben.

9.

宗小翠女士為楊少聰先生之妻子。

10.

These Shares were held by Preferable Situation Assets Limited, the entire issued

10. 該等股份由Preferable Situation Assets Limited持有，而

share capital of which was owned by Mr. David Michael Webb. By virtue of the

Preferable Situation Assets Limited全部已發行股本由

SFO, Mr. David Michael Webb was deemed to be interested in all the Shares

David Michael Webb先生擁有。根據證券及期貨條例，

held by Preferable Situation Assets Limited. Mr. David Michael Webb had an

David Michael Webb先生被視為於Preferable Situation

aggregate interest in 42,176,000 Shares.

A s s e t s L i m i t e d 持有之全部股份中擁有權益。D a v i d

Michael Webb先生持有合共42,176,000股股份之權益。

Save as disclosed above, so far as was known to the Directors, there was

除上文所披露者外，據董事所知，於2019年9月30日，概

no other person who had an interest or short position in the Shares and

無其他人士於股份及相關股份中擁有須根據證券及期

underlying Shares which would fall to be disclosed to the Company under

貨條例第X V部第2及第3分部之規定向本公司披露之權

the provisions of Divisions 2 and 3 of Part XV of the SFO as at 30 September

益或淡倉。

2019.

Purchase, sale or redemption of shares

購買、出售或贖回股份

Neither the Company nor any of its subsidiaries has purchased, sold or

於期內，本公司及其任何附屬公司概無購買、出售或贖

redeemed any of the Shares during the Period.

回任何股份。

Model Code for securities transactions

證券交易標準守則

T h e C o m p a n y h a s a d o p t e d a c o d e o f c o n d u c t r e g a r d i n g s e c u r i t i e s

本公司已就本集團董事及高級管理層進行證券交易採

transactions by Directors and senior management of the Group on terms no

納一套行為守則，其條款不遜於上市規則附錄10 所載

less exacting than the required standard set out in Appendix 10 to the Listing

的規定標準（「標準守則」）。經向本集團全體董事及

Rules (the "Model Code"). Having made specific enquiry of all Directors

高級管理層作出特定查詢後，於期內，本集團全體董事

and senior management of the Group, all Directors and senior management

及高級管理層一直遵守標準守則及本集團董事及高級

of the Group have complied with the required standard set out in the Model

管理層進行證券交易的本公司行為守則所載之規定標

Code and the Company's code of conduct regarding securities transactions

準。

by Directors and senior management of the Group throughout the Period.

Corporate governance practices

企業管治常規

During the Period, the Company has complied with the code provisions of

於期內，本公司一直遵守上市規則附錄14所載之企業管

the Corporate Governance Code (the "CG Code") as set out in Appendix 14

治守則（「企業管治守則」）之守則條文，惟企業管治

to the Listing Rules, save the deviation from the code provision A.2.1 of the

守則之守則條文第A . 2.1條因下文所述理由有所偏離除

CG Code and the reasons for the deviation of which are explained below:

外：

TO THE BOARD OF DIRECTORS OF FUJIKON

致富士高實業控股有限公司董事會

INDUSTRIAL HOLDINGS LIMITED

(incorporated in Bermuda with limited liability)

（於百慕達註冊成立的有限公司）

Scope of Review

審閱範圍

We conducted our review in accordance with Hong Kong Standard on Review

我們已根據香港會計師公會頒布的香港審閱準則第

Engagements 2410, "Review of Interim Financial Information Performed by

2410號「由實體的獨立核數師執行中期財務資料審閱」

the Independent Auditor of the Entity" issued by the Hong Kong Institute

進行審閱。審閱中期財務資料包括主要向負責財務和

of Certified Public Accountants. A review of interim financial information

會計事務的人員作出查詢，及應用分析性和其他審閱程

consists of making inquiries, primarily of persons responsible for financial

序。審閱的範圍遠較根據《香港審計準則》進行審計的

and accounting matters, and applying analytical and other review procedures.

範圍為小，故不能令我們可保證我們將知悉在審計中可

A review is substantially less in scope than an audit conducted in accordance

能被發現的所有重大事項。因此，我們不會發表審計意

with Hong Kong Standards on Auditing and consequently does not enable us

見。

to obtain assurance that we would become aware of all significant matters

that might be identified in an audit. Accordingly, we do not express an audit

opinion.

Conclusion

結論

Based on our review, nothing has come to our attention that causes us to

按照我們的審閱，我們並無發現任何事項，令我們相信

believe that the interim financial information of the Group is not prepared,

貴集團的中期財務資料未有在各重大方面根據香港會

in all material respects, in accordance with Hong Kong Accounting Standard

計準則第34號「中期財務報告」擬備。

34 "Interim Financial Reporting".

PricewaterhouseCoopers

羅兵咸永道會計師事務所

Certified Public Accountants

執業會計師

Hong Kong, 20 November 2019

香港，2019年11月20日

Unaudited

Audited

As at

As at

30 September

31 March

2019

2019

未經審核

經審核

於2019年

於2019年

Note

9月30日

3月31日

附註

HK$'000

HK$'000

Non-current assets

非流動資產

Property, plant and equipment

物業、廠房及設備

8

133,368

142,442

Investment property

投資物業

8

1,400

1,400

Right-of-use assets

使用權資產

8

14,599

-

Land use rights

土地使用權

8

3,566

3,879

Non-current deposits and other assets

非流動按金及其他資產

3,650

4,812

Financial assets at fair value through

按公平值計入其他全面

other comprehensive income

收益的財務資產

9

4,124

3,979

Deferred income tax assets

遞延所得稅資產

9,879

6,644

Total non-current assets

非流動資產總值

170,586

163,156

Current assets

流動資產

Inventories

存貨

204,471

313,876

Trade receivables

應收貨款

10

350,004

258,226

Other receivables

其他應收款項

29,705

39,149

Financial assets at fair value through

按公平值計入損益的

profit or loss

財務資產

11

1,861

2,109

Current income tax recoverable

可收回當期所得稅

100

1,003

Cash and cash equivalents

現金及現金等價物

309,514

263,137

Total current assets

流動資產總值

895,655

877,500

Current liabilities

流動負債

Trade payables

應付貨款

12

177,413

173,121

Contract liabilities, accruals and

合約負債、應計費用及

other payables

其他應付款項

107,243

125,690

Lease liabilities

租賃負債

7,799

-

Current income tax liabilities

當期所得稅負債

19,334

4,805

Total current liabilities

流動負債總值

311,789

303,616

流動資產淨值

Net current assets

583,866

573,884

總資產減流動負債

Total assets less current liabilities

754,452

737,040

Non-current liabilities

非流動負債

Lease liabilities

租賃負債

6,875

-

Deferred income tax liabilities

遞延所得稅負債

2,346

2,184

Total non-current liabilities

非流動負債總值

9,221

2,184

資產淨值

Net assets

745,231

734,856

The above condensed consolidated statement of financial position should be

上述簡明綜合財務狀況表應與隨附附註一併閱讀。

read in conjunction with the accompany notes.

Unaudited

Audited

As at

As at

30 September

31 March

2019

2019

未經審核

經審核

於2019年

於2019年

Note

9月30日

3月31日

附註

HK$'000

HK$'000

Equity

權益

Capital and reserves attributable to the

歸屬本公司股權持有人之

Company's equity holders

股本及儲備

Share capital

股本

13

42,584

42,584

Other reserves

其他儲備

15

150,220

171,771

Retained earnings

保留溢利

- Dividends

－股息

8,517

21,292

- Others

－其他

462,813

437,446

664,134

673,093

Non-controlling interests

非控制性權益

81,097

61,763

權益總計

Total equity

745,231

734,856

YEUNG CHI HUNG, JOHNNY 楊志雄

YUEN YEE SAI, SIMON 源而細

Chairman 主席

Joint Deputy Chairman 聯席副主席

Unaudited

Six months ended 30 September

未經審核

截至9月30日止6個月

Note

2019

2018

附註

HK$'000

HK$'000

Revenue

收入

7

806,328

743,669

Cost of sales

銷售成本

(649,692)

(594,590)

Gross profit

毛利

156,636

149,079

Other gains - net

其他收益－淨額

7,256

7,404

Distribution and selling expenses

分銷及銷售支出

(5,971)

(8,130)

General and administrative expenses

一般及行政支出

(88,524)

(88,173)

(Provision)/reversal of provision for impairment

應收貨款減值

of trade receivables

（撥備）╱回撥

(2,005)

1,176

Operating profit

經營溢利

16

67,392

61,356

Finance income - net

融資收入－淨額

2,082

2,668

Profit before income tax

除所得稅前溢利

69,474

64,024

Income tax expenses

所得稅支出

17

(14,113)

(12,167)

Profit for the period

期內溢利

55,361

51,857

Other comprehensive income:

其他全面收益：

Items that have been reclassified or may be

已重新分類或期後可被重

subsequently reclassified to profit or loss:

新分類至損益之項目：

- Currency translation differences

－匯兌差額

(23,840)

(36,833)

- Fair value gains/(losses) on financial assets

－按公平值計入其他全面

at fair value through other

收益的財務資產之公

comprehensive income

平值收益╱（虧損）

146

(64)

Other comprehensive income for the period,

期內其他全面收益，已扣除

net of tax

稅項

(23,694)

(36,897)

期內全面收益總額

Total comprehensive income for the period

31,667

14,960

Unaudited

Six months ended 30 September

未經審核

截至9月30日止6個月

Note

2019

2018

附註

HK$'000

HK$'000

Profit attributable to:

溢利歸屬：

Equity holders of the Company

本公司股權持有人

33,884

37,252

Non-controlling interests

非控制性權益

21,477

14,605

55,361

51,857

Total comprehensive income attributable to:

全面收益總額歸屬：

Equity holders of the Company

本公司股權持有人

12,333

3,091

Non-controlling interests

非控制性權益

19,334

11,869

31,667

14,960

Earnings per share for profit attributable to the

期內歸屬本公司股權持有人

equity holders of the Company during the period:

之溢利的每股盈利：

- Basic (HK cents per share)

－基本（每股港仙）

19

7.96

8.84

－攤薄（每股港仙）

- Diluted (HK cents per share)

19

7.94

8.82

Unaudited

未經審核

Attributable to equity holders

of the Company

歸屬於本公司股權持有人

Non-

Share

Other

Retained

controlling

Total

Note

capital

reserves

earnings

interests

equity

非控制

附註

股本

其他儲備

保留溢利

性權益

權益總計

HK$'000

HK$'000 HK$'000

HK$'000

HK$'000

Balance at 1 April 2018

於2018年4月1日之結餘

42,107

191,739

456,274

54,822

744,942

Profit for the period

期內溢利

-

-

37,252

14,605

51,857

Other comprehensive income:

其他全面收益：

- Currency translation differences

－匯兌差額

15

-

(34,097)

-

(2,736)

(36,833)

- Fair value losses on financial assets

－按公平值計入其他全面

at fair value through other

收益的財務資產之

comprehensive income

公平值虧損

15

-

(64)

-

-

(64)

Total comprehensive income for the six months

截至2018年9月30日止6個月

ended 30 September 2018

全面收益總額

-

(34,161)

37,252

11,869

14,960

Transactions with owners in their capacity

與所有者以其所有者身份

as owners:

進行的交易：

Employee share option scheme:

僱員購股權計劃：

- Lapse of share options

－購股權失效

15

-

(45)

45

-

-

- Proceeds from share issued upon exercise

－行使購股權而發行股份之

of share options

所得款項

15

16

160

-

-

176

Dividends paid

已付股息

-

-

(21,061)

-

(21,061)

Balance at 30 September 2018

於2018年9月30日之結餘

42,123

157,693

472,510

66,691

739,017

Balance at 1 April 2019

於2019年4月1日之結餘

42,584

171,771

458,738

61,763

734,856

Profit for the period

期內溢利

-

-

33,884

21,477

55,361

Other comprehensive income:

其他全面收益：

- Currency translation differences

－匯兌差額

15

-

(21,697)

-

(2,143)

(23,840)

- Fair value gains on financial assets

－按公平值計入其他全面

at fair value through other

收益的財務資產之

comprehensive income

公平值收益

15

-

146

-

-

146

Total comprehensive income for the six months

截至2019年9月30日止6個月

ended 30 September 2019

全面收益總額

-

(21,551)

33,884

19,334

31,667

Transactions with owners in their capacity

與所有者以其所有者身份

as owners:

進行的交易：

Dividends paid

已付股息

-

-

(21,292)

-

(21,292)

Balance at 30 September 2019

於2019年9月30日之結餘

42,584

150,220

471,330

81,097

745,231

Unaudited

Six months ended 30 September

未經審核

截至9月30日止6個月

2019

2018

HK$'000

HK$'000

Cash flows from operating activities

經營活動現金流量

Cash generated from/(used in) operations

經營所得╱（所用）之現金

87,624

(83,562)

Interest paid

已付利息

(47)

(14)

Hong Kong profits tax paid

已付香港利得稅

(57)

(281)

China corporate income tax paid

已付中國企業所得稅

(2,811)

(2,398)

China corporate income tax refund

已退還中國企業所得稅

994

-

Net cash generated from/(used in) operating activities

經營活動所得╱（所用）之現金淨額

85,703

(86,255)

Cash flows from investing activities

投資活動現金流量

Interest received

已收利息

2,340

2,837

Purchase of property, plant and equipment

購入物業、廠房及設備

(13,158)

(23,396)

Proceeds from disposal of property, plant and equipment

出售物業、廠房及設備所得款項

117

697

Increase in non-current deposits

非流動按金增加

(1,249)

(3,856)

投資活動所用之現金淨額

Net cash used in investing activities

(11,950)

(23,718)

Cash flows from financing activities

融資活動現金流量

Issue of shares upon exercise of share options

因行使購股權而發行股份

-

176

Proceeds from borrowings

借貸所得款項

10,000

-

Repayment of borrowings

償還借貸

(10,000)

-

Principal elements of lease payments

租賃付款之本金部分

(3,975)

-

Interest portion of lease liabilities

租賃負債之利息部分

(211)

-

Dividends paid to the Company's equity holders

已付本公司股權持有人之股息

(21,292)

(21,061)

融資活動所用之現金淨額

Net cash used in financing activities

(25,478)

(20,885)

現金及現金等價物增加╱（減少）淨額

Net increase/(decrease) in cash and cash equivalents

48,275

(130,858)

Cash and cash equivalents at beginning of the period

期初現金及現金等價物

263,137

408,633

Currency translation differences

匯兌差額

(1,898)

(3,857)

Cash and cash equivalents at end of the period

期終現金及現金等價物

309,514

273,918

1 General information

1 一般資料

Fujikon Industrial Holdings Limited (the " C o m p a n y ") and its

富士高實業控股有限公司（「本公司」）及其附屬

subsidiaries (together the "Group") are principally engaged in the

公司（統稱「本集團」）主要從事設計、製造、推

design, manufacture, marketing and trading of electro-acoustic

廣及銷售電聲產品、配件及其他電子產品。

products, accessories and other electronic products.

The Company is a limited liability company incorporated in Bermuda.

本公司為於百慕達註冊成立之有限公司。其註

The address of its registered office is Victoria Place, 5th Floor, 31

冊辦事處之地址為Victoria Place, 5th Floor, 31

Victoria Street, Hamilton 10, Bermuda.

Victoria Street, Hamilton 10, Bermuda。

The Company is listed on the Main Board of The Stock Exchange of

本公司於香港聯合交易所有限公司（「聯交所」）

Hong Kong Limited (the "Stock Exchange").

主板上市。

The condensed consolidated interim financial information is presented

除另有說明外，本簡明綜合中期財務資料呈列之

in thousands of units of Hong Kong dollars ("HK$'000"), unless

貨幣單位為千港元（「千港元」）。本簡明綜合中

otherwise stated. This condensed consolidated interim financial

期財務資料已於2019年11月20日獲董事會批准刊

information has been approved for issue by the Board of Directors on

發。

20 November 2019.

This condensed consolidated interim financial information has not been

本簡明綜合中期財務資料未經審核。

audited.

2 Basis of preparation

2 編製基準

The condensed consolidated interim financial information for the six

截至2019 年9月30日止6個月，本簡明綜合中期財

months ended 30 September 2019 has been prepared in accordance

務資料乃遵照香港會計師公會頒佈之香港會計準

with Hong Kong Accounting Standard ("HKAS") 34 "Interim Financial

則（「香港會計準則」）第34號「中期財務報告」編

Reporting" issued by the Hong Kong Institute of Certified Public

製。本簡明綜合中期財務資料應連同本集團根據

Accountants. The condensed consolidated interim financial information

香港財務報告準則（「香港財務報告準則」）所編

should be read in conjunction with the annual financial statements

製截至2019 年3月31日止年度之年度財務報表一

for the year ended 31 March 2019, which have been prepared in

併閱讀。

accordance with Hong Kong Financial Reporting Standards ("HKFRS").

3 Accounting policies

3 會計政策

The accounting policies adopted are consistent with those of the

除下文所述者外，本集團採用之會計政策與截至

Group's annual financial statements for the year ended 31 March 2019,

2019年3月31日止年度之年度財務報表所述一致。

except as mentioned below.

(a) New and amended standards and improvement

(a) 本集團採納之新訂及經修訂準則以及準

and interpretation to standards (collectively the

則之改進及詮釋（統稱「修訂本」）

"Amendments") adopted by the Group

A number of Amendments became applicable for the current

若干修訂本於本報告期間適用，及本集團因

reporting period and the Group had to change its accounting

採納下列準則而須更改其會計政策並作出追

policies and make retrospective adjustments as a result of

溯調整：

adopting the following standards:

HKFRSs (Amendments)

Annual improvements to HKFRSs 2015-2017 cycle

香港財務報告準則（修訂本）

香港財務報告準則2015年至2017年週期之年度改進

HKFRS 9 (Amendments)

Prepayment features with negative compensation

香港財務報告準則第9號（修訂本）

具負補償之預付款項特點

HKFRS 16

Leases

香港財務報告準則第16號

租賃

HKAS 19 (Amendments)

Plan amendments, curtailment or settlement

香港會計準則第19號（修訂本）

計劃修訂、縮減或結算

HKAS 28 (Amendments)

Long-term interests in associates and joint ventures

香港會計準則第28號（修訂本）

於聯營公司及合營公司之長期權益

HK(IFRIC) - Int 23

Uncertainty over income tax treatments

香港（國際財務報告詮釋委員會）

所得稅處理之不確定性

－詮釋第23號

3 Accounting policies (Continued)

3 會計政策（續）

(b) New and amended standards and interpretation to

(b) 已頒佈但尚未生效之新訂及經修訂準則

standards that have been issued but are not effective

以及準則之詮釋

The following new and amended standards and interpretation to

下列新訂及經修訂準則以及準則之詮釋於本

standards have been issued, but are not effective for the Group's

集團2019年4月1日起之財政年度已頒佈但尚

financial year beginning on 1 April 2019 and have not been early

未生效且並無提早採納：

adopted:

HKFRS 3 (Amendments)

Definition of a business1

香港財務報告準則第3號（修訂本）

業務之定義1

HKFRS 10 and HKAS 28 (Amendments)

Sale or contribution of assets between an investor and its associate

  or joint venture3

香港財務報告準則第10號及

投資者與其聯營公司或合營公司之間之資產出售或投入3

香港會計準則第28號（修訂本）

HKFRS 17

Insurance contracts2

香港財務報告準則第17號

保險合約2

HKAS 1 and HKAS 8 (Amendments)

Definition of material1

香港會計準則第1號及

重大之定義1

香港會計準則第8號（修訂本）

Conceptual framework for financial reporting 2018

Revised conceptual framework for financial reporting1

財務報告概念框架2018

經修訂之財務報告概念框架1

4 Changes in accounting policies

4

會計政策變動

This note explains the impact of the adoption of HKFRS 16 on the

本附註解釋採納香港財務報告準則第16號對本集

Group's condensed consolidated interim financial information and also

團簡明綜合中期財務資料之影響，亦於下文附註

discloses the new accounting policies that have been applied from 1

4(b)披露自2019年4月1日起適用的新會計政策。

April 2019 in Note 4(b) below.

The Group has adopted HKFRS 16 retrospectively from 1 April 2019,

本集團自2019年4月1日起追溯採納香港財務報告

but has not restated comparatives for the 2018 reporting period, as

準則第16號，但並無重列2018年報告期間的比較

permitted under the specific transitional provisions in the standard. The

數字（該準則特定過渡條文允許此做法）。因此，

reclassifications and the adjustments arising from the new leasing rules

新租賃規則產生的重新分類及調整於2019年4月1

are therefore recognised in the opening balance sheet on 1 April 2019.

日的期初資產負債表中確認。

(a) Adjustments recognised on adoption of HKFRS 16

(a)

採納香港財務報告準則第16號時確認的

調整

On adoption of HKFRS 16, the Group recognised lease liabilities

於採納香港財務報告準則第16 號時，本集

in relation to leases which had previously been classified as

團就先前根據香港會計準則第17號「租賃」

"operating leases" under the principles of HKAS 17 "Leases"

（「香港會計準則第17號」）的原則分類為

("HKAS 17"). These liabilities were measured at the present

「經營租賃」的租賃確認租賃負債。該等負

value of the remaining lease payments, discounted using the

債按租賃付款餘額的現值（使用承租人截至

lessee's incremental borrowing rate as of 1 April 2019.

2019年4月1日的新增借款利率貼現）計量。

HK$'000

Operating lease commitments disclosed

於2019年3月31日已披露的經營租賃承擔

as at 31 March 2019

20,351

Discounted using the Group's incremental borrowing

使用本集團於首次應用日期的新增借款利率

rate of the date of initial application:

貼現：

Lease liabilities recognised as at 1 April 2019

於2019年4月1日確認的租賃負債

19,617

Of which are:

其中包括：

- Current lease liabilities

－流動租賃負債

8,177

- Non-current lease liabilities

－非流動租賃負債

11,440

19,617

The associated right-of-use assets were measured at the amount

相關使用權資產按等同於採納時租賃負債的

equal to the lease liabilities on adoption, adjusted by the amount

金額計量，並就任何於2019年3月31日資產負

of any prepaid or accrued lease payments relating to that lease

債表中確認有關該租賃的預付或應計租賃付

recognised in the balance sheet as at 31 March 2019. There

款金額作出調整。於首次應用日期，概無虧

were no onerous lease contracts that would have required

損性租賃合約需要對使用權資產進行調整。

an adjustment to the right-of-use assets at the date of initial

application.

4 Changes in accounting policies (Continued)

4 會計政策變動（續）

(a) Adjustments recognised on adoption of HKFRS 16

(a) 採納香港財務報告準則第16號時確認的

(Continued)

調整（續）

The change in accounting policy affected the following items in

會計政策變動對2019年4月1日資產負債表中

the balance sheet on 1 April 2019:

下列項目產生影響：

•

Right-of-use assets - increased by HK$19,617,000

•

使用權資產－增加19,617,000港元

•

Lease liabilities - increased by HK$19,617,000

•

租賃負債－增加 19,617,000港元

There was no impact on retained earnings on 1 April 2019.

於2019年4月1日的保留溢利並無受到影響。

5 Estimates

5 估計

The preparation of interim financial information requires management

編製中期財務資料時管理層須作出影響會計政策

to make judgements, estimates and assumptions that affect the

之應用以及資產及負債、收入及開支之呈報金額

application of accounting policies and the reported amounts of assets

的判斷、估計及假設。實際結果可能有別於該等估

and liabilities, income and expense. Actual results may differ from

計。編製本簡明綜合中期財務資料時，管理層對

these estimates. In preparing this condensed consolidated interim

應用本集團會計政策及估計的不明朗因素主要來

financial information, the significant judgements made by management

源作出的重要判斷，與本集團截至2019年3月31日

in applying the Group's accounting policies and the key sources of

止年度綜合財務報表所用者相同。

estimation uncertainty were the same as those that applied to the

consolidated financial statements of the Group for the year ended 31

March 2019.

6 Financial risk management

6 財務風險管理

6.1 Financial risk factors

6.1

財務風險因素

The Group's activities expose it to a variety of financial risks:

本集團之業務承受多種財務風險：市場風險

market risk (including foreign exchange risk, fair value interest

（包括外匯風險、公平值利率風險、現金流

rate risk, cash flow interest rate risk and price risk), credit risk

利率風險及價格風險）、信貸風險及流動性

and liquidity risk.

風險。

The condensed consolidated interim financial information does not

簡明綜合中期財務資料並不包括年度財務報

include all financial risk management information and disclosures

表規定之所有財務風險管理資料及披露事

required in the annual financial statements, and should be read in

項，且應與本集團截至2019年3月31日止年度

conjunction with the Group's annual financial statements for the

之年度財務報表一併閱讀。

year ended 31 March 2019.

There have been no changes in the Group's risk management

自2019年3月31日以來，本集團之風險管理政

policies since 31 March 2019.

策概無任何變動。

6.2 Fair value estimation

6.2

公平值估計

The fair value of the Group's assets and liabilities are classified

根據會計準則之規定，本集團資產及負債之

into 3 levels of the fair value measurement hierarchy prescribed

公平值分類為3 級公平值計量層級，有關披

under the accounting standards and disclosed as below:

露如下：

Level 1 - Quoted prices (unadjusted) in active markets for

第1級－

相同資產或負債在活躍市場的報

identical assets or liabilities.

價（未經調整）。