MultiVision

Listed companies must provide the information required by Appendix 7.2 of the Listing Manual. Adequate disclosure should be given to explain any material extraordinary item either as a footnote of the material extraordinary item or in the "Review of the performance of the group".

Third Quarter Financial Statement And Dividend Announcement for the Period Ended 31/12/2003

PART I - INFORMATION REQUIRED FOR ANNOUNCEMENTS OF QUARTERLY (Q1, Q2 & Q3), HALF-YEAR AND FULL YEAR RESULTS

1(a) An income statement (for the group) together with a comparative statement for the corresponding period of the immediately preceding financial year.


MULTIVISION INTELLIGENT SURVEILLANCE LIMITED
INCOME STATEMENT
FOR THE THIRD QUARTER ENDED 31 DECEMBER 2003
(Expressed in Hong Kong dollars)

	The Group
	*HK$'000*
	3 months ended	3 months ended
	31/12/2003	31/12/2002

Turnover	34,394	23,300
Cost of sales	(14,870)	(11,418)

Gross profit	19,524	11,882

Other income	69	233
Selling expenses	4,059	1,720
Administrative expenses	3,593	1,607
Research and development	1,893	1,610

Profit from operations	10,048	7,178

Finance cost	(4)	(3)

Profit from ordinary activities before taxation	10,044	7,175
Taxation	(1,607)	(1,148)

Net profit for the period	8,437	6,027

1(b)(i) A balance sheet (for the issuer and group), together with a comparative statement as at the end of the immediately preceding financial year.


MULTIVISION INTELLIGENT SURVEILLANCE LIMITED
BALANCE SHEET
AS AT 31 DECEMBER 2003
(Expressed in Hong Kong dollars)

	The Group		The Company
	HK$'000		HK$'000
	As at	As at	As at	As at
	31/12/03	31/3/03	31/12/03	31/3/03

Non-current assets
Investment in subsidiary	45,000	-	19,462	19,462
Fixed assets	2,824	1,474	-	-
Intangible assets	59,269	51,115	-	-

	107,093	52,589	19,462	19,462

Current assets
Inventories	17,150	4,493	-	-
Trade receivables	39,980	25,670	-	-
Provision for doubtful debts	-	-	-	-
Prepayments, deposits and other receivables	4,945	2,173	-	215
Amount due from subsidiary	-	-	152,302	58,831
Cash and cash equivalents	78,413	49,667	-

	140,488	82,003	152,302	59,046

Current liabilities
Obligations under hire purchase contract	-	133	-	-
Trade and other payable	2,451	10,958	173	139
Amount due to Directors	510	750	-	150
Obligations under finance leases	56	-	-	-

	3,017	11,841	173	289

Net current assets	137,471	70,162	152,129	58,757

Non-current liabilities
Obligation under hire purchase contract	-	22	-	-
Deferred taxation	9,312	4,758	-	-
Amount due to ultimate holding company
	9,312	4,780	-	-

Net assets	235,252	117,971	171,591	78,219

Representing:
Capital and reserves
Share capital	29,241	24,369	29,241	24,369
Capital contribution reserve	-	-	142,500	54,000
Contributed surplus	9,210	9,210	-	-
Share premium	142,500	54,000	-	-
Net profit/(loss) for period	23,909	25,320	-	(150)
Retained profits b/f	30,392	5,072	(150)	-


	235,252	117,971	171,591	78,219

1(b)(ii) Aggregate amount of group borrowings and debt securities.

Amount repayable in one year or less, or on demand

As at 31/12/2003		As at 31/3/2003
Secured	Unsecured	Secured	Unsecured

HK$56,000	HK$0	HK$133,000	HK$0

Amount repayable after one year

As at 31/12/2003		As at 31/3/2003
Secured	Unsecured	Secured	Unsecured

HK$0	HK$0	HK$22,000	HK$0

Details of any collateral

Not applicable

1(c) A cash flow statement (for the group), together with a comparative statement for the corresponding period of the immediately preceding financial year.


MULTIVISION INTELLIGENT SURVEILLANCE LIMITED
STATEMENT OF CASH FLOW
FOR THE THIRD QUARTER ENDED 31 DECEMBER 2003
(Expressed in Hong Kong dollars)


		3 months ended	3 months ended
		31/12/2003	31/12/2002
		HK$'000	HK$'000

Operating activities
Profit from ordinary activities before taxation		10,044	7,175
Adjustment for:
	Interest expenses	4	3
	Interest income	(24)	0
	Depreciation of fixed assets	408	146
	Amortisation of intangible assets	1,893	1,610
	Gain on disposal of fixed assets	-

Operating profit before changes in working capital		12,325	8,934

Changes in working capital
	(Increase)/Decrease in inventories	(10,409)	(1,892)
	(Increase) in trade receivable	(12,328)	(1,408)
	Decrease/(Increase) in prepayment, deposits, and other receivable	(2,635)	(500)
	(Decrease)/Increase in trade and other payable	(2,384)	1,594
	(Decrease)/Increase in amounts due to directors	(120)

Cash generated from operations		(15,551)	6,728
	Income tax refunded	-	0
	Interest received	24	0
	Interest paid	(4)	(3)

Net cash inflow/(outflow) from operating activities		(15,531)	6,725

Investing activities
	Payment for purchase of fixed assets	(734)
	Payment for development costs	(2,289)	(5,714)
	Investment in Subsidiary	(20,000)
	Proceeds from sales of fixed assets	-
		(23,023)	(5,714)
Financing activities
	Capital contributions	-
	Repayment of principal under hire purchase contract	(33)	(33)
	Issue of shares	-	58,107
	Share issue expenses	-	-

Net cash inflow from financing activities		(33)	58,074

Net increase in cash and cash equivalents		(38,587)	59,085
Cash and cash equivalents at beginning of the period		117,000	12,482

Cash and cash equivalents at end of this period		78,413	71,567

An analysis of cash and cash equivalents in as follows:
	Cash at bank and in hand	78,413	71,567

1(d)(i) A statement (for the issuer and group) showing either (i) all changes in equity or

(ii) changes in equity other than those arising from capitalisation issues and distributions to shareholders, together with a comparative statement for the corresponding period of the immediately preceding financial year.


*The Group*
	Share	Contributed	Statutory	Share	Other	Retained
	Capital	Surplus	Reserves	Premium	Reserves	Profits	Total
	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000	HK$'000

*At 1 October 2003*	*29,241*	*9,210*	-	*142,500*	-	*45,864*	*226,815*

Surrender of original shares
as part of the Group's share
capital restructuring	-	-	-	-	-	-	-

Ordinary shares issued nil
paid on incorporation and
subsequently credited as
fully paid as part of the
Group's capital restructuring	-	-	-	-	-	-	-

New shares issued for
public subscription	-	-	-	-	-	-	-
				-
Share issue expenses	-	-	-	-	-	-	-

Net profit for the quarter	-	-	-	-	-	*8,437*	*8,437*

*At 31 December 2003*	*29,241*	*9,210*	-	*142,500*	-	*54,301*	*235,252*

*At 1 October 2002*	*28,672*	-	-	-	-	*15,581*	*44,253*

Surrender of original shares
as part of the Group's share
capital restructuring	-	-	-	-	-	-	-

Ordinary shares issued nil
paid on incorporation and
subsequently credited as
fully paid as part of the
Group's capital restructuring	-	-	-	-	-	-	-