MULTIVISION INTELLIGENT SURVEILLANCE LIMITED

First Quarter Financial Statement And Dividend Announcement

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
GROUP INCOME STATEMENT
FOR THE FIRST QUARTER ENDED 30 JUNE 2003
(Expressed in Hong Kong thousand dollars)



		Note	1st Qtr 2004 HK$'000	1st Qtr 2003 HK$'000
Turnover			26,422	13,582
Cost of sales			(9,193)	(6,682)
Gross profit			17,229	6,900
Other income			254	5
Distribution expenses			(2,466)	(1,525)
Administrative expenses			(2,838)	(1,263)
Product development costs			(3,309)	(967)
Profit from operations			8,870	3,150
Finance cost			(4)	(14)
Profit from ordinary activities before taxation			8,866	3,136
Taxation			(1,419)	(502)
Profit after taxation for the period			7,447	2,634



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 30 JUNE 2003
(Expressed in Hong Kong thousand dollars)




			Note	The Group HK$'000		The Company HK$'000
				As at 30.06.03	As at 31.03.03	As at 30.06.03	As at 31.03.03
Non-current assets
Investment in subsidiary				-	-	19,462	19,462
Fixed assets				1,881	1,474	-	-
Intangible assets				51,220	51,115	-	-
				53,101	52,589	19,462	19,462
Current assets
Inventories				5,209	4,493	-	-
Trade receivables (net)				27,578	25,670	-	-
Prepayments, deposits and other receivables				2,107	2,173	215	215
Amount due from subsidiary				-	-	58,831	58,831
Cash and cash equivalents				47,404	49,667	-	-
				82,298	82,003	59,046	59,046
Current liabilities
Obligations under hire purchase contract				122	133
Trade and other payable				2,932	10,958	139	139
Amount due to Directors				750	750	150	150
				3,804	11,841	289	289
Net current assets				78,494	70,162	58,757	58,757
Non-current liability
Obligation under hire purchase contract				-	22	-	-
Deferred taxation				6,177	4,758	-	-
Amount due to ultimate holding company				-	-	-	-
				6,177	4,780	-	-
Net assets				125,418	117,971	78,219	78,219
Representing:
Capital and reserves
Share capital				24,369	24,369	24,369	24,369
Contributed surplus				9,210	9,210	-	-
Share premium				54,000	54,000	54,000	54,000
Net profit/(loss)for period				7,447	25,320	-	(150)
Retained profits/(loss) b/f				30,392	5,072	(150)	-
				125,418	117,971	78,219	78,219



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

Amount repayable in one year or less, or on demand



As at 30/06/2003

As at 31/03/2003

Secured	Unsecured	Secured	Unsecured
HK$122,000	HK$0	HK$133,000	HK$0



Amount repayable after one year



As at 30/06/2003

As at 31/03/2003

Secured	Unsecured	Secured	Unsecured
HK$0	HK$0	HK$22,000	HK$0



Details of any collateral

N. A.



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
GROUP CASH FLOW STATEMENT
FOR THE FIRST QUARTER ENDED 30 JUNE 2003
(Expressed in Hong Kong thousand dollars)




		Note	1st Qtr 2004 HK$'000	1st Qtr 2003 HK$'000
Operating activities
Profit from ordinary activities before taxation			8,866	3,136
Adjustment for:
Interest expenses			4	4
Interest income			(96)	-
Depreciation of fixed assets			164	105
Amortisation of intangible assets			3,309	968
Gain on disposal of fixed assets