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MULTIVISION
INTELLIGENT SURVEILLANCE LIMITED
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.
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MULTIVISION INTELLIGENT
SURVEILLANCE LIMITED
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INCOME STATEMENT
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FOR THE THIRD QUARTER
ENDED 31 DECEMBER 2003
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(Expressed
in Hong Kong dollars)
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The Group
|
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HK$'000
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3 months ended
|
3 months ended
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31/12/2003
|
31/12/2002
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Turnover
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34,394
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23,300
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Cost
of sales
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(14,870)
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(11,418)
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Gross profit
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19,524
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11,882
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Other
income
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69
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233
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Selling
expenses
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4,059
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1,720
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Administrative
expenses
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3,593
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1,607
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Research
and development
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1,893
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1,610
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Profit from operations
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10,048
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7,178
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Finance
cost
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(4)
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(3)
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¡@
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Profit from ordinary activities
before taxation
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10,044
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7,175
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Taxation
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(1,607)
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(1,148)
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Net profit for the period
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8,437
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6,027
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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.
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MULTIVISION INTELLIGENT
SURVEILLANCE LIMITED
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BALANCE SHEET
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AS AT 31 DECEMBER 2003
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(Expressed
in Hong Kong dollars)
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The Group
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The Company
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HK$'000
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HK$'000
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As at
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As at
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As at
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As at
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31/12/03
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31/3/03
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31/12/03
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31/3/03
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Non-current assets
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Investment
in subsidiary
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45,000
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-
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19,462
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19,462
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Fixed
assets
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2,824
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1,474
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-
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-
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Intangible
assets
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59,269
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51,115
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-
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-
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107,093
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52,589
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19,462
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19,462
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Current assets
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Inventories
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17,150
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4,493
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-
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-
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Trade
receivables
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39,980
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25,670
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-
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-
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Provision
for doubtful debts
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-
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-
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-
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-
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Prepayments,
deposits and other receivables
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4,945
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2,173
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-
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215
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Amount
due from subsidiary
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-
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-
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152,302
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58,831
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Cash
and cash equivalents
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78,413
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49,667
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-
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140,488
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82,003
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152,302
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59,046
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Current liabilities
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Obligations
under hire purchase contract
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-
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133
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-
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-
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Trade
and other payable
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2,451
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10,958
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173
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139
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Amount
due to Directors
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510
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750
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-
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150
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Obligations
under finance leases
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56
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-
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-
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-
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3,017
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11,841
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173
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289
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Net current assets
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137,471
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70,162
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152,129
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58,757
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Non-current liabilities
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Obligation
under hire purchase contract
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-
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22
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-
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-
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Deferred
taxation
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9,312
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4,758
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-
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-
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Amount
due to ultimate holding company
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¡@
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¡@
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¡@
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¡@
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9,312
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4,780
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-
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-
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Net assets
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235,252
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117,971
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171,591
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78,219
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Representing:
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Capital and reserves
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Share
capital
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29,241
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24,369
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29,241
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24,369
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Capital
contribution reserve
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-
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-
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142,500
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54,000
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Contributed
surplus
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9,210
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9,210
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-
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-
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Share
premium
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142,500
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54,000
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-
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-
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Net
profit/(loss) for period
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23,909
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25,320
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-
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(150)
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Retained
profits b/f
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30,392
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5,072
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(150)
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-
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235,252
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117,971
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171,591
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78,219
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1(b)(ii)
Aggregate amount of group borrowings and debt securities.
Amount repayable in one year or less, or
on demand
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As
at 31/12/2003
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As
at 31/3/2003
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Secured
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Unsecured
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Secured
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Unsecured
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¡@
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¡@
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¡@
|
¡@
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HK$56,000
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HK$0
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HK$133,000
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HK$0
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Amount repayable after one year
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As
at 31/12/2003
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As
at 31/3/2003
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Secured
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Unsecured
|
Secured
|
Unsecured
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¡@
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¡@
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¡@
|
¡@
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HK$0
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HK$0
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HK$22,000
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HK$0
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Details of any collateral
Not applicable
1(c) A cash flow statement (for the group), together
with a comparative statement for the corresponding
period of the immediately preceding financial year.
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MULTIVISION INTELLIGENT
SURVEILLANCE LIMITED
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STATEMENT OF CASH FLOW
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FOR THE THIRD QUARTER
ENDED 31 DECEMBER 2003
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(Expressed
in Hong Kong dollars)
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3 months ended
|
3 months ended
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31/12/2003
|
31/12/2002
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HK$'000
|
HK$'000
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|
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Operating
activities
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Profit
from ordinary activities before taxation
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10,044
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7,175
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Adjustment
for:
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Interest
expenses
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4
|
3
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Interest
income
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(24)
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0
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Depreciation
of fixed assets
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408
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146
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Amortisation
of intangible assets
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1,893
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1,610
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Gain
on disposal of fixed assets
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-
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¡@
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Operating
profit before changes in working capital
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12,325
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8,934
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Changes
in working capital
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(Increase)/Decrease
in inventories
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(10,409)
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(1,892)
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(Increase)
in trade receivable
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(12,328)
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(1,408)
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Decrease/(Increase)
in prepayment, deposits, and other receivable
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(2,635)
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(500)
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(Decrease)/Increase
in trade and other payable
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(2,384)
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1,594
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(Decrease)/Increase
in amounts due to directors
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(120)
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¡@
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Cash
generated from operations
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(15,551)
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6,728
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Income
tax refunded
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-
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0
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Interest
received
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24
|
0
|
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Interest
paid
|
|
(4)
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(3)
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Net
cash inflow/(outflow) from operating activities
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|
(15,531)
|
6,725
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Investing
activities
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Payment
for purchase of fixed assets
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(734)
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Payment
for development costs
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(2,289)
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(5,714)
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Investment
in Subsidiary
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(20,000)
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Proceeds
from sales of fixed assets
|
|
-
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|
|
|
|
|
(23,023)
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(5,714)
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|
Financing
activities
|
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|
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Capital
contributions
|
|
-
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Repayment
of principal under hire purchase contract
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|
(33)
|
(33)
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|
|
Issue
of shares
|
|
-
|
58,107
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|
Share
issue expenses
|
|
-
|
-
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|
|
|
|
|
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|
Net
cash inflow from financing activities
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(33)
|
58,074
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|
|
|
|
|
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|
Net
increase in cash and cash equivalents
|
|
(38,587)
|
59,085
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|
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
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|
|
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|
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|
An
analysis of cash and cash equivalents in as
follows:
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|
Cash
at bank and in hand
|
|
78,413
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71,567
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|
|
|
|
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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.
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|
|
|
|
|
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|
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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
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
|
¡@
|
| |