2020 中報
INTERIM REPORT
Corporate Information
公司資料
2
Business Review and Prospects
業務回顧及前景
5
Management Discussion and Analysis
管理層討論及分析
7
Report on Review of Condensed Consolidated
Financial Statements
簡明綜合財務報表審閱報告
22
Condensed consolidated statement of profit or loss and
other comprehensive income
簡明綜合損益及其他全面收益表
24
Condensed consolidated statement of financial position
簡明綜合財務狀況表
26
Condensed consolidated statement of changes in equity
簡明綜合權益變動表
28
Condensed consolidated statement of cash flows
簡明綜合現金流量表
30
Notes to the Condensed Consolidated Financial Statements
簡明綜合財務報表附註
31
Other Information
其他資料
58
CONTENTS
目錄
Sprocomm Intelligence Limited Interim Report 20202
CORPORATE INFORMATION
Board of Directors
Executive Directors
Mr. Li Chengjun (Chairman and Chief Executive Officer)
Mr. Xiong Bin (Vice Chairman)
Mr. Li Hongxing
Mr. Guo Qinglin
Independent Non-executive Directors
Mr. Hung Wai Man
Mr. Wong Kwan Kit
Mr. Lu Brian Yong Chen
Ms. Tseng Chin I
Committees of the Board
Audit Committee
Mr. Wong Kwan Kit (Chairman)
Mr. Lu Brian Yong Chen
Mr. Hung Wai Man
Remuneration Committee
Mr. Hung Wai Man (Chairman)
Mr. Wong Kwan Kit
Mr. Lu Brian Yong Chen
Ms. Tseng Chin I
Nomination Committee
Mr. Li Chengjun (Chairman)
Mr. Wong Kwan Kit
Mr. Lu Brian Yong Chen
Ms. Tseng Chin I
Company Secretary
Ms. Jian Xuegen
Authorised Representatives
Mr. Xiong Bin
Ms. Jian Xuegen
公司資料
董事會
執行董事
李承軍先生（主席兼行政總裁）
熊彬先生（副主席）
李紅星先生
郭慶林先生
獨立非執行董事
洪為民先生
黃昆杰先生
呂永琛先生
曾瀞漪女士
董事會委員會
審核委員會
黃昆杰先生（主席）
呂永琛先生
洪為民先生
薪酬委員會
洪為民先生（主席）
黃昆杰先生
呂永琛先生
曾瀞漪女士
提名委員會
李承軍先生（主席）
黃昆杰先生
呂永琛先生
曾瀞漪女士
公司秘書
簡雪艮女士
授權代表
熊彬先生
簡雪艮女士
二零二零年中期業績報告 Sprocomm Intelligence Limited 3
合規顧問
德健融資有限公司
香港
金鐘道89號
力寶中心第一座
45樓4505–06室
核數師
信永中和（香港）會計師事務所有限公司
執業會計師
香港
銅鑼灣希慎道33號
利園一期43樓
開曼群島註冊辦事處
. Box 31119
Grand Pavilion
Hibiscus Way
802 West Bay Road
Grand Cayman
KY1-1205
Cayman Islands
中國總部
中國深圳市
福田區
天安車公廟工業區
天發大廈
棟5D-506室
香港主要營業地點
香港九龍
尖沙咀
加連威老道41C號
嘉威大廈
12樓A室
主要銀行
花旗銀行
ICICI Bank Limited
Compliance Adviser
Dakin Capital Limited
Suites 4505–06, 45/F
Tower 1, Lippo Centre
89 Queensway
Hong Kong
Auditor
SHINEWING (HK) CPA Limited
Certified Public Accountants
43/F, Lee Garden One
33 Hysan Avenue, Causeway Bay
Hong Kong
Registered Office in Cayman Islands
. Box 31119
Grand Pavilion
Hibiscus Way
802 West Bay Road
Grand Cayman
KY1-1205
Cayman Islands
Head Office in the PRC
5D-506 Block
Tianfa Building
Tianan Chegongmiao Industrial Park
Futian District
Shenzhen, China
Principal Place of Business in Hong Kong
Room A, 12/F
Granville House
41C Granville Road
Tsim Sha Tsui
Kowloon, Hong Kong
Principal Banks
Citibank
ICICI Bank Limited
Sprocomm Intelligence Limited Interim Report 20204
股份過戶登記處
香港
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
開曼群島
Tricor Services (Cayman Islands) Limited
2nd Floor, Century Yard
Cricket Square, . Box 902
Grand Cayman, KY1-1103
Cayman Islands
股份名稱
SPROCOMM INTEL
股份代號
1401
公司網站
Share Registrars and Transfer Offices
Hong Kong
Tricor Investor Services Limited
Level 54, Hopewell Centre
183 Queen’s Road East
Hong Kong
Cayman Islands
Tricor Services (Cayman Islands) Limited
2nd Floor, Century Yard
Cricket Square, . Box 902
Grand Cayman, KY1-1103
Cayman Islands
Stock Name
SPROCOMM INTEL
Stock Code
1401
Website
二零二零年中期業績報告 Sprocomm Intelligence Limited 5
業務回顧及前景
Sprocomm Intelligence Limited（「本公司」）
董事（「董事」）會（「董事會」）向本公司股東
公佈本公司及其附屬公司（統稱「本集團」）
截至二零二零年六月三十日止六個月的未
經審核中期綜合業績。
業務回顧
截至二零二零年六月三十日止六個月，新
型冠狀病毒（「COVID-19」）爆發對全球經
濟及消費者信心有顯著負面影響。由於手
機生產商的產能以及計劃受到封鎖措施影
響，而消費者在消費時更為謹慎，因此全
球智能手機市場亦受到影響。
本集團作為中國領先的ODM手機供應商
之一， 一直致力於研發、設計、生產以及
銷售手機、手機的印刷電路板組裝（「印
刷電路板組裝」）以及物聯網（「物聯網」）
相 關 產 品，著 力 開 拓 新 興 市 場。自 爆 發
COVID-19疫情以來，中國多個省市採取
緊急公共衛生措施及多項行動（包括對農
歷新年假期後復產日期作出限制），防止
COVID-19散播。因採取有關公共衛生措
施，本集團供應商延遲供應原材料，而若
干員工難以如常返回崗位。本集團於深圳
及瀘州的生產工廠停產數週，直至二月下
旬方逐漸恢復正常。基於上述原因，本集
團原有生產計劃及產能大受影響，導致
截至二零二零年六月三十日止六個月延
遲交付產品。本集團已採取相應行動減低
COVID-19引起的負面影響，包括訂單排
序、與客戶保持溝通以保障訂單、密切監
察及跟進原材料交付時間表，以及重新編
排生產安排以加快生產程序及滿足客戶需
求。COVID-19 疫 情 爆 發 後，本 集 團 的 收
益由截至二零一九年六月三十日止六個月
的人民幣1,百萬元下降%至截
至二零二零年六月三十日止六個月的人民
幣百萬元，主要是由於手機銷售減
少所致。本集團的純利亦由截至二零一九
年六月三十日止六個月的人民幣百萬
元（不包括一次過上市開支人民幣百
萬元）下降%至截至二零二零年六月
三十日止六個月的人民幣百萬元。
BUSINESS REVIEW AND PROSPECTS
The board (the “Board”) of directors (the “Directors”)
of Sprocomm Intelligence Limited (the “Company”)
announces the unaudited interim consolidated results
of the Company and its subsidiaries (collectively the
“Group”) for the six months ended 30 June 2020 to the
shareholders of the Company.
Business Review
During the six months ended 30 June 2020, the
outbreak of the novel coronavirus (the “COVID-19”)
caused significant adverse impact on the global
economy and consumer confidence. The worldwide
smartphone market was also affected as the production
capacit ies and schedules of the mobile phone
manufacturers were interrupted by lockdown measures
and consumers were more conscious on their spending.
The Group, as one of the leading ODM mobile phone
suppliers based in China, continues to focus on the
research and development, designing, manufacturing
and sale of mobile phones, printed circuit board
assembly (“PCBA”) for mobile phones and internet
of things (“IoT”) related products, targeting emerging
markets. Since the outbreak of COVID-19, a number
of provinces and municipalities in China have taken
emergency public health measures and various actions
to prevent the spread of the COVID-19, including
imposing restriction on resumption date of production
after the Chinese New Year Holidays. Under these public
health measures, the Group experienced delays in the
supply of raw materials from its suppliers and certain
workers had difficulties to return to work as usual. The
Group halted production at its production plants in
Shenzhen and Luzhou for a few weeks and production
was gradually resumed by end of February. As a result of
the aforesaid, the Group’s original production plans and
production capacity were significantly affected, leading
to late delivery of products in the six months ended
30 June 2020. The Group has taken corresponding
actions to mitigate the adverse impact arising from
COVID-19, including prioritisation of sales orders, regular
communications with customers to secure the sales
orders, close monitoring and follow up on the delivery
schedule of raw materials and rescheduling production
plans to speed up the production process and meet the
customer demand. Amid the outbreak of COVID-19,
the Group’s revenue for the six months ended 30 June
2020 decreased by % to million from
RMB1, million for the six months ended 30 June
2019, primarily attributed to the decrease in sales of
mobile phones. The Group’s net profit for the six months
ended 30 June 2020 also decreased by % to
million from million (excluding one-
off listing expenses of million) for the six months
ended 30 June 2019.
Sprocomm Intelligence Limited Interim Report 20206
展望未來，中國的ODM手機市場將會充
滿挑戰及機遇。全球經濟回復需時，本集
團將把握機會鞏固市場領先地位。此外，
董事認為全球各地迅速推出5G電訊網絡，
將帶動智能手機以及物聯網產品的需求。
憑著強勁研發實力，本集團已於二零一九
年成功與螞蟻金服（海南）數字技術有限
公司（「螞蟻金服」）就產品認證及具人臉識
別功能的阿里銷售終端 (POS)訂立框架銷
售協議。截至二零二零年六月三十日止六
個月，與螞蟻金服的合作刺激本集團的物
聯網相關產品收益增長，由截至二零一九
年六月三十日止六個月的人民幣百萬
元大幅增加倍至人民幣百萬元。
為把握潛在市場機遇及增加本公司及其附
屬公司的利益，本集團會繼續加強與螞蟻
金服的合作，並會審慎發展業務以及逐步
增加產能，提升研發能力，豐富產品組合
及加大銷售及營銷力度，達致地域多元化。
本集團於截至二零二零年六月三十日止六
個月的未經審核業績摘要（與二零一九年
同期相比）載於下表：
Going forward, China’s ODM mobile phone market will
be filled with challenges and opportunities. While the
global economy still requires some time to recover, the
Group will take this opportunity to solidify its leading
market position. Further, the Directors consider that
the rapid roll-out of 5G telecommunication network in
different parts of the world will drive the demand for
smartphones and IoT products.
Leveraging on strong research and development
ability, the Group successfully entered into framework
sales agreement with Ant Financial (Hainan) Digital
Technology Limited Company* ( 螞 蟻 金 服 ( 海 南 )
數 字 技 術 有 限 公 司 , “Ant Financial”) for product
validation and supply of Ali-POS (point of sales) devices
supported with facial recognition feature (face ID) in
2019. The cooperation with Ant Financial stimulated
the Group’s revenue from IoT related products for the
six months ended 30 June 2020, which significantly
increased by times to million from
million for the six months ended 30 June
2019.
In order to capture the potential market opportunities
and maximise the interests of the Company and its
shareholders, the Group will continue to strengthen
its cooperation with Ant Financial and it will adopt a
prudent approach to develop its business and gradually
expand its production capacity, enhance its research
and development capability, enrich its product portfolio
and increase its sales and marketing effort to diversify
its geographical locations.
Highlights of the unaudited results of the Group for the
six months ended 30 June 2020, as compared to the
corresponding period in 2019, are shown in the following
table:
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
(Unaudited) (Unaudited)
（未經審核） （未經審核）
Revenue (RMB’000) 收益（人民幣千元） 857,580 1,125,896
Net profit for the period (RMB’000) 期內純利（人民幣千元） 12,596 12,668
Earnings per share 每股盈利
– Basic and diluted (RMB cents) －基本及攤薄（人民幣分）
二零二零年中期業績報告 Sprocomm Intelligence Limited 7
MANAGEMENT DISCUSSION AND
ANALYSIS
Financial Review
Revenue
Revenue by product categories
The Group’s product portfolio includes smartphones,
feature phones, PCBAs for mobile phones and IoT
related products. During the six months ended 30 June
2020, the Group mainly derives its revenue from the
sales of smartphones and IoT products. Set out below
is a breakdown of the Group’s total revenue by product
categories and the revenue generated from each
product category as a percentage of total revenue for
the six months ended 30 June 2020 and 2019:
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000
% of total
revenue RMB’000
% of total
revenue
人民幣千元 佔總收益的% 人民幣千元 佔總收益的%
Mobile phones 手機
– Smartphones －智能手機 407,425 960,162
– Feature phones －功能型手機 131,144 99,670
Sub-total: 小計： 538,569 1,059,832
PCBAs 印刷電路板組裝 58,401 13,394
IoT related products 物聯網相關產品 236,975 23,981
Others (Note) 其他（附註） 23,635 28,689
Total 合計 857,580 1,125,896
Note: Others mainly include revenue from the sales of mobile
device components used for after sales-services and the
provision of research and development and technical
services for mobile phones, PCBAs and cloud related
products.
管理層討論及分析
財務回顧
收益
按產品類別劃分的收益
本集團的產品組合包括智能手機、功能型
手機、手機的印刷電路板組裝及物聯網相
關產品。截至二零二零年六月三十日止六
個月，本集團的收益主要來自銷售智能手
機及物聯網產品。下表載列截至二零二零
年及二零一九年六月三十日止六個月按產
品類別劃分的總收益及各產品類別產生的
收益佔本集團總收益的百分比：
附註： 其他主要包括銷售用於售後服務的移動
設備組件的收益以及提供手機、印刷電路
板組裝及雲相關產品的研發及技術服務。
Sprocomm Intelligence Limited Interim Report 20208
The Group’s total revenue decreased by % to
million for the six months ended 30 June
2020 from RMB1, million for the six months
ended 30 June 2019, primarily attributed to the
decreased sales of mobile phones amid the outbreak
of COVID-19, but partially offset by the increased sales
of IoT related products.
Revenue from mobiles phones decreased by % to
million for the six months ended 30 June
2020 from RMB1, million for the six months
ended 30 June 2019, primarily attributed to the
decrease in sales of smartphones to India, Algeria and
the PRC amid the outbreak of the COVID-19.
Revenue from PCBAs increased by times to
million for the six months ended 30 June
2020 from million for the six months ended
30 June 2019, primarily attributed to the increase in
demand on PCBAs for mobile phones from the PRC
customers.
Revenue from IoT related products increased by
times to million for the six months ended
30 June 2020 from million for the six months
ended 30 June 2019, primarily attributed to the
increase in sales of (i) Ali-POS (point of sales) devices
supported with facial recognition feature (face ID); and (ii)
smart locks.
本集團的總收益由截至二零一九年六月
三十日止六個月的人民幣1,百萬元
減少%至截至二零二零年六月三十日
止六個月的人民幣百萬元，主要是
由於爆發COVID-19疫情導致手機銷售下
降所致，惟部分被物聯網相關產品的銷售
額增加所抵銷。
手機的收益由截至二零一九年六月三十
日止六個月的人民幣1,百萬元減少
%至截至二零二零年六月三十日止六
個月的人民幣百萬元，主要是由於
爆發COVID-19疫情導致印度、阿爾及利
亞及中國的智能手機銷售下降所致。
印刷電路板組裝的收益由截至二零一九年
六月三十日止六個月的人民幣百萬元
增加倍至截至二零二零年六月三十日
止六個月的人民幣百萬元，主要是由
於中國客戶對手機的印刷電路板組裝的需
求增加所致。
物聯網相關產品的收益由截至二零一九年
六月三十日止六個月的人民幣百萬
元增加倍至截至二零二零年六月三十
日止六個月的人民幣百萬元，主要
是由於 (i)具人臉識別功能的阿里銷售終端
(POS)；及 (ii)智能門鎖的銷售增加所致。
二零二零年中期業績報告 Sprocomm Intelligence Limited 9
Revenue by geographical regions
The Group’s products are mainly sold to emerging
markets which have high population and growing
demands on mobi le phones. Set out below is
a breakdown of the Group’s tota l revenue by
geographical region and the revenue generated from
each region as a percentage of total revenue for the six
months ended 30 June 2020 and 2019:
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000
% of total
revenue RMB’000
% of total
revenue
人民幣千元 佔總收益的% 人民幣千元 佔總收益的%
Emerging Asia 亞洲新興國家
India 印度 280,104 436,401
Pakistan 巴基斯坦 13,819 29,544
Bangladesh 孟加拉國 107,387 23,390
The PRC 中國 449,006 397,902
Sub-total: 小計： 850,316 887,237
Other regions 其他地區
Algeria 阿爾及利亞 7,003 189,629
Others 其他 261 – 49,030
Sub-total: 小計： 7,264 238,659
Total 合計 857,580 1,125,896
Revenue from India decreased by % to
million for the six months ended 30 June 2020 from
million for the six months ended 30 June
2019 as the outbreak of COVID-19 caused delays
in the Group’s production schedules and delivery of
products to customers.
Revenue from Bangladesh increased by times to
million for the six months ended 30 June
2020 from million for the six months ended
30 June 2019, primarily attributed to increase in
demand for smartphones.
按地理位置劃分的收益
本集團主要向人口眾多且手機需求不斷增長
的新興市場銷售產品。下表列載截至二零二
零年及二零一九年六月三十日止六個月本集
團按地區劃分的總收益明細及各地區產生的
收益佔本集團總收益的百分比：
來自印度的收益由截至二零一九年六月
三十日止六個月的人民幣百萬元減
少%至截至二零二零年六月三十日止
六個月的人民幣百萬元，是由於爆
發COVID-19疫情導致本集團生產時間表
及向客戶交付產品延誤所致。
來自孟加拉國的收益由截至二零一九年六
月三十日止六個月的人民幣百萬元增
加倍至截至二零二零年六月三十日止
六個月的人民幣百萬元，主要是由
於智能手機的需求增加所致。
Sprocomm Intelligence Limited Interim Report 202010
Revenue from the PRC increased by % to
million for the six months ended 30 June
2020 from million for the six months ended
30 June 2019, primarily attributed to increase in sales
of PCBAs and IoT-related products, but partially offset
by the decrease in sales of smartphones.
Revenue from Algeria decreased by % to
million for the six months ended 30 June 2020 from
million for the six months ended 30 June
2019, primarily attributed to the decrease in purchase
orders for smartphones from one of the Group’s major
customers.
Gross profit and gross profit margin
Gross prof it decreased by % to
million for the six months ended 30 June 2020 from
million for the six months ended 30 June
2019, primarily due to the decreased sales of mobile
phones. Gross profit margin improved to % for the
six months ended 30 June 2020 from % for the six
months ended 30 June 2019. The increase in gross
profit margin was primarily attributed to the increase in
proportion of sales of IoT related products which had a
higher gross profit margin than other products.
Other gains and income
Other gains and income mainly include comprises
government subsidies and amortisation of government
subsidies, net exchange gain, gain arising from change
in fair value of financial assets at fair value through profit
and loss, bank interest income and sundry income. The
Group’s other gains and income remained relatively
stable at million for the six months ended 30
June 2020 as compared with million for the
six months ended 30 June 2019.
Selling expenses
Selling expenses mainly represent transportation and
custom declaration expenses, salaries and employee
benefits of our sales and marketing staff, business-
related travel l ing and entertainment expenses.
Selling expenses for the six months ended 30 June
2020 decreased by % to million from
million for the six months ended 30 June
2019 because the higher proportion of sales to the
PRC for the six months ended 30 June 2020 reduced
the transportation and custom declaration expenses
incurred by the Group.
來自中國收益由截至二零一九年六月三十
日 止 六 個 月 的 人 民 幣 百 萬 元 增 加
%至截至二零二零年六月三十日止六
個月的人民幣百萬元，主要是由於
印刷電路板組裝及物聯網相關產品的銷售
增加所致，惟部分被智能手機銷售減少抵
銷。
來自阿爾及利亞收益由截至二零一九年六
月三十日止六個月的人民幣百萬元
減少%至截至二零二零年六月三十日
止六個月的人民幣百萬元，主要是由
於本集團其中一名主要客戶的智能手機訂
單減少所致。
毛利及毛利率
毛利由截至二零一九年六月三十日止六個
月的人民幣百萬元減少%至截至
二零二零年六月三十日止六個月的人民幣
百萬元，主要是由於手機銷售減少所
致。毛利率由截至二零一九年六月三十日
止六個月的%增至截至二零二零年六
月三十日止六個月的%。毛利率增加
主要是由於較其他產品有較高毛利率的物
聯網相關產品的銷售比例增加所致。
其他收益及收入
其他收益及收入主要包括政府補貼及政府
補助攤銷、匯兌收益淨額、按公平值計入
損益的金融資產的公平值變動產生的收益、
銀行利息收入及雜項收入。本集團截至二
零二零年六月三十日止六個月的其他收益
及收入為人民幣百萬元，維持相對穩
定，截至二零一九年六月三十日止六個月
的其他收益及收入則為人民幣百萬元。
銷售開支
銷售開支主要為運輸及清關費用、我們銷
售及市場營銷員工的薪金及僱員福利以及
業務相關差旅及酬酢開支。銷售開支由截
至二零一九年六月三十日止六個月的人民
幣百萬元減少%至截至二零二零
年六月三十日止六個月的人民幣百萬
元，是由於截至二零二零年六月三十日止
六個月來自中國的銷售佔比較高導致本集
團產生的運輸及清關費用減少。
二零二零年中期業績報告 Sprocomm Intelligence Limited 11
Administrative and other expenses
Administrative and other expenses mainly represent
salaries and benefits of our administrative and
management staff, depreciation, amortisation of
intangible assets, general office expenses, legal and
professional fees, rental expenses, insurance expenses,
bank charges, exchange losses, listing expenses
and other miscellaneous administrative expenses.
Administrative and other expenses for six months
ended 30 June 2020 increased by % to
million from million for the six months ended
30 June 2019 (excluding one-off listing expenses of
million). The increase in administrative and
other expenses was primarily attributed to the increase
in impairment loss on trade and bills receivables and
net exchange losses.
Research and development expenses
Research and development expenses for the six
months ended 30 June 2020 decreased by %
to million from million for the six
months ended 30 June 2019, along with the Group’s
decreased sales.
Finance costs
Finance costs mainly represent interests on discounted
bills, interest portion of lease liabilities, bank borrowings
and factoring loans. The Group’s finance costs
decreased by % to million for the six
months ended 30 June 2020 from million
for the six months ended 30 June 2019, primarily
attributed to the repayment of borrowings.
Income tax expenses
For the six months ended 30 June 2020, the Group’s
income tax expenses decreased by % to
million from million for the six months ended
30 June 2019, primarily attributed to over provision of
income tax expenses in prior years.
Profit for the period
As a result of the above factors, the Group’s net profit
for six months ended 30 June 2020 was
million, representing a decrease of % as compared
with mil l ion (excluding one-off l ist ing
expenses of million) for the six months ended
30 June 2019. Net profit margin for the six months
ended 30 June 2020 also decreased to % from
% (excluding listing expenses) for the six months
ended 30 June 2019.
行政及其他開支
行政及其他開支主要為我們行政及管理員
工的薪金及福利、折舊、無形資產攤銷、
一般辦公室開支、法律及專業費用、租金
開支、保險開支、銀行費用、匯兌虧損、
上市開支及其他雜項行政開支。行政及其
他開支由截至二零一九年六月三十日止六
個月的人民幣百萬元增加%至截
至二零二零年六月三十日止六個月的人民
幣百萬元（不包括人民幣百萬元
的一次過上市開支）。行政及其他開支的
增加主要是由於貿易應收款項及應收票據
的減值虧損及匯兌虧損淨額所致。
研發開支
隨著本集團的銷售減少，研發開支由截至
二零一九年六月三十日止六個月的人民幣
百萬元減少%至截至二零二零年
六月三十日止六個月的人民幣百萬元。
融資成本
融資成本主要為貼現票據、租賃負債的
利息部分、銀行借貸及保理貸款利息。本
集團的融資成本由截至二零一九年六月
三十日止六個月的人民幣百萬元減少
%至截至二零二零年六月三十日止六
個月的人民幣百萬元，主要是由於償
還借款所致。
所得稅（開支）
本集團的所得稅開支由截至二零一九年六
月三十日止六個月的人民幣百萬元減
少%至截至二零二零年六月三十日止
六個月的人民幣百萬元，主要是由於
過往年度就所得稅開支超額撥備所致。
期內溢利
由於上述各項因素，本集團截至二零二零
年六月三十日止六個月的純利為人民幣
百萬元，較截至二零一九年六月三十
日止六個月的人民幣百萬元（不包括
一次過上市開支人民幣百萬元）減少
%。純利率亦由截至二零一九年六月
三十日止六個月的%減少至截至二零
二零年六月三十日止六個月的%（不包
括上市開支）。
Sprocomm Intelligence Limited Interim Report 202012
股息
董事會不建議派付截至二零二零年六月
三十日止六個月的股息（二零一九年：零）。
貿易應收款項及應收票據
於二零二零年六月三十日，本集團的貿易
應收款項及應收票據為人民幣百萬
元（二零一九年十二月三十一日：人民幣
百萬元）。本集團通常向客戶授出介
乎30至90天的信貸期，並容許中國客戶
以到期期限介乎三至六個月的票據結付彼
等之採購款。
為盡量降低我們的信貸風險，本集團於決
定向客戶授出信貸期前謹慎評估其背景資
料及信譽。此外，本集團亦密切監測客戶
的支付紀錄，定期審閱我們向彼等授出的
信貸期。本集團的信貸評估乃基於多項因
素，包括但不限於客戶的財務實力、業務
規模及支付紀錄以及彼等與本集團業務關
係的年期。
本集團於二零二零年六月三十日的貿易應
收款項及應收票據減少主要是由於 (i)截至
二零二零年六月三十日止六個月的銷售減
少；及 (ii)客戶結算所致。根據相關銷售發
票日期，截至二零二零年六月三十日，本
集團%的貿易應收款項及應收票據於
90日內到期，本集團並未發現任何重大長
期未付結餘。
貿易應付款項及應付票據
於二零二零年六月三十日，本集團的貿易
應付款項及應付票據為人民幣百萬
元（二零一九年十二月三十一日：人民幣
百萬元）。供應商通常授予本集團介
乎30至60日的信貸期，其中若干供應商
要求本集團於交付產品前提前付款。本集
團訂有金融風險管理政策以確保所有應付
款項於信貸期限內結清。若干供應商允許
本集團以銀行承兌票據的方式結算採購款。
本集團亦可向若干供應商背書若干應收票
據，以償付結欠彼等之貿易應付款項。
Dividend
The Board does not recommend the payment of
dividend for the six months ended 30 June 2020 (2019:
nil).
Trade and bills receivables
As at 30 June 2020, the Group’s trade and bills
receivables amounted to mil l ion (31
December 2019: mill ion). The Group
generally grants credit period ranging from 30 to 90
days to its customers and allows its PRC customers
to settle their purchases by way of bills with maturity
period ranging from three to six months.
In order to minimise credit risk, the Group carefully
assesses the background information and credit
worthiness of its customers before it decides to grant
them credit periods. Further, the Group also closely
monitors the payment record of its customers and
regularly reviews the credit terms granted to them. The
Group’s credit assessment is based on various factors,
including but not limited to the financial strength, size
of the business and payment history of customers and
length of their business relationship with the Group.
The decrease in the Group’s trade and bills receivables
as at 30 June 2020 was primarily attributed to (i) the
decrease in sales during the six months ended 30 June
2020; and (ii) the settlement from customers. Based on
the dates of the relevant sales invoices, % of the
Group’s trade and bills receivables as at 30 June 2020
aged within 90 days and the Group did not notice any
substantial long outstanding balances.
Trade and bills payables
As at 30 June 2020, the Group’s trade and bills
payables amounted to million (31 December
2019: million). Suppliers generally grant the
Group credit period ranging from 30 to 60 days, with
certain suppliers require the Group to make advance
payment before product delivery. The Group has
financial risk management policies in place to ensure
that all payables are settled within the credit timeframe.
Certain suppliers allow the Group to settle its purchases
by way of bank acceptance bills and the Group may
also endorse certain bills receivables to its suppliers in
order to settle the trade payable due to them.
二零二零年中期業績報告 Sprocomm Intelligence Limited 13
Capital Structure, Liquidity, Financial
Resources and Gearing
The Company’s shares were successfully listed on the
Main Board of the Stock Exchange on 13 November
2019. There has been no change in the capital
structure of the Group since then. The Group mainly
funds its business and working capital requirements by
using a balanced mix of internal resources, borrowings
and funds from the global offering.
The funding mix will be adjusted depending on the
costs of funding and the actual needs of the Group.
As at 30 June 2020, the Group had net current
assets of million (31 December 2019:
million), bank balances and cash amounted
to million (31 December 2019:
million) and borrowings amounted to million
(31 December 2019: million). The Group’s
bank balances and cash and borrowings as at 30 June
2020 were mainly denominated in RMB and USD. The
weighted average effective interest rate of the Group’s
borrowings for the six months ended 30 June 2020
was 4% per annum (six months ended 30 June 2019:
4% per annum) and the borrowings are repayable
installments over a period of three months to 10 years.
As at 30 June 2020, the Group had a current ratio of
times (31 December 2019: times) and gearing ratio
of (calculated by dividing total debt by total equity)
(31 December 2019: ). As at 30 June 2020 and 31
December 2019, the Group’s borrowing facilities were
fully utilised.
Capital Commitments
As a t 30 June 2020, the Group had cap i ta l
commitments of million in relation to capital
contribution to an associate (31 December 2019: nil).
Contingent Liabilities
As at 30 June 2020, the Group did not have any
material contingent l iabil it ies or guarantees (31
December 2019: nil).
資本架構、流動資金、財務資源及資本
負債
本公司股份於二零一九年十一月十三日成
功於聯交所主板上市。本集團的資本架構
自此並無變動。本集團主要透過平衡地動
用內部資源、借款及全球發售所得資金撥
付業務及營運資金需求。
資金組合將根據資金成本及本集團實際需
求進行調整。於二零二零年六月三十日，
本集團的流動資產淨值為人民幣百
萬元（二零一九年十二月三十一日：人民
幣百萬元），銀行結餘及現金為人民
幣百萬元（二零一九年十二月三十一
日：人民幣百萬元），而借款為人民
幣百萬元（二零一九年十二月三十一
日：人民幣百萬元）。本集團於二零
二零年六月三十日的銀行結餘及現金和借
款主要以人民幣及美元計值。截至二零二
零年六月三十日止六個月，本集團貸款的
加權平均實際利率為每年4%（截至二零
一九年六月三十日止六個月：每年4%），
貸款可分期償還，還款期介乎三個月至十
年。於二零二零年六月三十日，本集團流
動比率為倍（二零一九年十二月三十一
日：倍），而資本負債比率（按總債務
除以總權益計算得出）為（二零一九年
十二月三十一日：）。於二零二零年六
月三十日及二零一九年十二月三十一日，
本集團已悉數動用借款融資。
資本承擔
於二零二零年六月三十日，本集團有關向
聯營公司注資的資本承擔為人民幤百
萬元（二零一九年十二月三十一日：零）。
或然負債
於二零二零年六月三十日，本集團並無任
何重大或然負債或擔保（二零一九年十二
月三十一日：零）。
Sprocomm Intelligence Limited Interim Report 202014
Pledge of Assets and Restricted Deposit
As at 30 June 2020, the Group pledged trade and bills
receivables with carrying amount of million (31
December 2019: million), bank deposits with
carrying amount of million (31 December
2019: million) and land and building with
carrying amount of million (31 December
2019: million) to secure its borrowings and
banking facilities.
As at 30 June 2020, the Group’s financial assets at fair
value through profit or loss (“financial assets at FVTPL”)
amounted to million (31 December 2019:
million) and they have been pledged to
certain banks for the issuance of bank acceptance bills
to the Group’s suppliers for the settlement of purchases
of raw materials and components.
As at 30 June 2020, the Group had restr icted
deposit of million (31 December 2019: nil),
representing bank balances frozen by banks that had
received notice from court with regard to the litigation
claim detailed in note 27 of this interim report.
Material Acquisitions and Disposals of
Subsidiaries, Associates and Joint Ventures
During the six months ended 30 June 2020 and 2019,
the Group did not have any material acquisitions and
disposals of subsidiaries, associates or joint ventures.
資產抵押及受限制存款
於二零二零年六月三十日，為取得借款及
銀行融資，本集團已抵押賬面值為人民幣
百萬元的貿易應收款項及應收票據（二
零一九年十二月三十一日：人民幣百
萬元）、賬面值為人民幣百萬元的銀
行存款（二零一九年十二月三十一日：人
民幣百萬元）及賬面值為人民幣
百萬元的土地及樓宇（二零一九年十二月
三十一日：人民幣百萬元）。
於二零二零年六月三十日，本集團按公平
值計入損益的金融資產（「按公平值計入損
益的金融資產」）為人民幣百萬元（二
零一九年十二月三十一日：人民幣
百萬元），就發行銀行承兌票據予本集團
供應商以償付採購原材料及元件的款項質
押予若干銀行。
於二零二零年六月三十日，本集團的受限
制存款為人民幣百萬元（二零一九年
十二月三十一日：零），屬於已收到法院
關於訴訟請求的通知（詳述於本中期報告
附註27）的銀行所凍結的銀行結餘。
重大收購及出售附屬公司、聯營公司及
合資企業
截至二零二零年及二零一九年六月三十日
止六個月，本集團並無任何重大收購及出
售附屬公司、聯營公司或合資企業。
二零二零年中期業績報告 Sprocomm Intelligence Limited 15
本集團持有的重大投資
截至二零二零年六月三十日止六個月，本
集團將若干基金投資於中國持牌商業銀行
發行的結構性存款，該等存款為保本型且
參考投資期間的外幣表現或利率按浮動
年利率計息。該等結構性存款於本集團綜
合財務報表分類為按公平值計入損益的金
融資產。於二零二零年六月三十日，本集
團按公平值計入損益的金融資產為人民
幣百萬元（二零一九年十二月三十一
日：人民幣百萬元），佔本集團總資
產的%（二零一九年十二月三十一日：
%），就發行銀行承兌票據予本集團
供應商以償付採購原材料及元件的款項質
押予若干銀行。截至二零二零年六月三十
日止六個月，按公平值計入損益的金融資
產的公平值變動產生的已變現收益為人民
幣百萬元（二零一九年：人民幣百
萬元），且該等金融資產並無利息收入及
股息（二零一九年︰無）。
下表載列於二零二零年六月三十日及二零
一九年十二月三十一日按各發行銀行劃分
的本集團按公平值計入損益的金融資產之
公平值：
Significant Investments Held by the Group
During the six months ended 30 June 2020, the Group
invested some of its funds in the structured deposits of
PRC licensed commercial banks, which were principal
guaranteed and carried interest at a variable rate per
annum with reference to the performance of foreign
currency or interest rate during the investment period.
These structured deposits were classified as financial
assets at FVTPL in the Group’s consolidated financial
statements. As at 30 June 2020, the Group’s financial
assets at FVTPL amounted to million (31
December 2019: million), representing
% (31 December 2019: %) of the Group’s
total assets, and they have been pledged to certain
banks for the issuance of bank acceptance bills to
the Group’s suppliers for the settlement of purchases
of raw materials and components. During the six
months ended 30 June 2020, the realised gain arising
from change in fair value of financial assets at FVTPL
amounted to million (2019: million)
and no interest income and dividend (2019: nil) were
derived from these financial assets.
The following sets forth the fair value of the Group’s
financial assets at FVTPL by the respective issuing
bank as at 30 June 2020 and 31 December 2019:
Issuing Bank
發行銀行
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
The Bank of East Asia (China) Limited 東亞銀行（中國）
有限公司 – 245,460
Bank of Ningbo 寧波銀行 13,890 24,790
China Merchants Bank 招商銀行 7,020 15,400
20,910 285,650
Sprocomm Intelligence Limited Interim Report 202016
The principal terms of the Group’s financial assets at
FVTPL as at 30 June 2020 are set out below:
Term and/or early
termination:
Bank of Ningbo: three months
(can only be withdrawn at
maturity)
期限及╱或提前終止： 寧波銀行： 三個月（僅可於到期時提取）
China Merchants Bank: six months
(can only be withdrawn at
maturity)
招商銀行： 六個月（僅可於到期時提取）
Expected or actual
rate of return:
預期或實際回報率：
Bank of Ningbo:
寧波銀行：
China Merchants Bank:
招商銀行：
% per annum
每年%
% per annum
每年%
The Group adopts prudent and pragmatic investment
strategies. The Group purchases principal guaranteed
financial assets at FVTPL from sizable PRC licensed
commercial banks with good credit ratings. Further, the
Group has implemented the following internal controls
to minimise the potential risks for investing in financial
assets:
– all the existing financial assets shall be closely
monitored by the Group’s finance controller;
– no new investments can be made unless it is
principal guaranteed;
– all investments shall be assessed by the Group’s
finance controller after taking into account
the maturity term, expected rate of return and
features of proposed investments and analysis
on impact on working capital and cashflow,
identification of any legal risks from reviewing
the terms with the assistance of any external
legal advisers as the Group’s finance controller
considers appropriate;
於二零二零年六月三十日，本集團按公平
值計入損益的金融資產主要條款如下：
本集團採取審慎務實的投資策略。本集團
向信貸評級良好的大型中國持牌商業銀行
購買按公平值計入損益的保本型金融資產。
此外，本集團已實施以下內控措施盡量減
少投資金融資產的潛在風險：
－ 本集團財務總監將密切監控所有現
有金融資產；
－ 不會作出新投資，惟保本型除外；
－ 所有投資須由本集團財務總監進行
評估，當中考慮因素包括建議投資
的屆滿期、預期回報率及特徵、對
營運資金及現金流量影響的分析以
及於本集團財務總監認為適當時藉
助任何外聘法律顧問透過檢討相關
條款識別的任何法律風險；
二零二零年中期業績報告 Sprocomm Intelligence Limited 17
– the Group’s finance controller shall prepare an
assessment report stating the factors considered
as stated above to be submitted to the Group’s
chief executive officer for approval shall he
considers appropriate; and
– s ing le investment wi th pr inc ipa l amount
exceeding RMB50 million or any new investments
which would result in the outstanding principal
sum of the financial assets exceeding RMB100
million which are endorsed by the Group’s chief
executive officer shall be further approved by the
audit committee who would re-assess the risks
involved.
Saved as disclosed herein, the Group did not make
any other significant investments during the six months
ended 30 June 2020.
Future Plan For Material Investments and
Capital Assets
The Group set out its future plans in its prospectus
dated 30 October 2019 (the “Prospectus”). As part
of its future plans, the Group will acquire new SMT
lines to expand its SMT production capacity. The
Group will also devote more resources into research
and development to enrich its product offering on
both mobile phone related products and IoT related
products. These future plans will be funded by a
balanced mix of internal resources, borrowings and
proceeds from the global offering. To further enhance
the value the Group and its shareholders, the Group
will also consider potential investment opportunities
when they arise.
－ 本集團財務總監須編製載有上述考
慮因素之評估報告以提呈予本集團
行政總裁，供其酌情批准；及
－ 本金額超過人民幣50百萬元之單項
投資或任何可能導致金融資產在外
本金超過人民幣100百萬元的新投
資（已獲本集團行政總裁批准）須進
一步取得審核委員會的批准，而審
核委員會將重新評估當中風險。
除本文所披露者外，截至二零二零六月
三十日止六個月，本集團並無任何其他重
大投資。
重大投資及資本資產的未來計劃
本集團的未來計劃載於本集團日期為二零
一九年十月三十日的招股章程（「招股章
程」）。根據未來計劃，本集團將購買新貼
片線以擴充貼片的產能。本集團亦將會投
入更多資源進行研發，以豐富手機相關產
品及物聯網相關產品的產品供應。本集團
將透過平衡地動用內部資源、借款及全球
發售所得資金撥付該等未來計劃。為進一
步提高本集團及其股東的價值，本集團亦
將會在潛在的投資機會出現時考慮有關投
資機會。
Sprocomm Intelligence Limited Interim Report 202018
Foreign Exchange Risks
For the six months ended 30 June 2020, the Group
derived % (2019: %) of its total revenue from
export sales and these export sales were principally
denominated in USD. As at 30 June 2020, the Group
had USD-denominated monetary assets with carrying
amount of million (31 December 2019:
million) and USD-denominated monetary
liabilities of million (31 December 2019:
million). The Group is exposed to foreign
exchange risk arising from its export sales, monetary
assets and liabilities denominated in foreign currencies.
The Group did not enter into any foreign exchange
hedging instruments during the six months ended 30
June 2020. Management of the Group regularly reviews
the impact of exchange risk exposure on the Group’s
financial performance and may use foreign exchange
hedging instruments to reduce the Group’s exchange
risk exposure if appropriate.
Employees, Remuneration Policy and Training
As at 30 June 2020, the Group had approximately
1,250 employees (31 December 2019: approximately
1,400 employees), whose remunerations and benefits
are determined based on market rates, government
policies and individual performance. For the six
months ended 30 June 2020, the Group’s total staff
costs amounted to million (2019:
million). The Group provides comprehensive training
and development opportunities to its employees on a
regular basis. The trainings are arranged according to
needs of employees, which are identified annually by
individual departments.
外匯風險
截至二零二零年六月三十日止六個月，
本 集 團 總 收 益 的 %（二 零 一 九 年：
%)乃來自出口銷售，而該等出口銷售
主要以美元計值。於二零二零年六月三十
日，本集團有賬面值為人民幣百萬
元 的 貨 幣 資 產 以 美 元 計 值（二 零 一 九 年
十二月三十一日：人民幣百萬元）及
賬面值為人民幣百萬元的貨幣負債
以美元計值（二零一九年十二月三十一日：
人民幣百萬元）。本集團因出口銷售
以及以外幣計值的貨幣資產及負債而面臨
外匯風險。截至二零二零年六月三十日止
六個月，本集團並無訂立任何外匯對沖工
具。本集團管理層定期檢討外匯風險敞口
對本集團財務表現的影響，並在適當的情
況下使用外匯對沖工具降低本集團的外匯
風險敞口。
僱員、薪酬政策及培訓
於二零二零年六月三十日，本集團有約
1,250名僱員（二零一九年十二月三十一
日：約1,400名僱員）。僱員的薪酬及福利
乃按市場水平、政府政策及個人表現釐定。
截至二零二零年六月三十日止六個月，本
集團的總員工成本為人民幣百萬元（二
零一九年：人民幣百萬元）。本集團
定期為僱員提供全面的培訓及發展機會。
本集團按僱員需求安排培訓，僱員需求每
年由各部門確定。
二零二零年中期業績報告 Sprocomm Intelligence Limited 19
Use Of Proceeds From IPO
Shares of the Company were listed on the Main
Board of the Stock Exchange on 13 November 2019.
The net proceeds from the IPO, net of underwriting
commissions and other relevant expenses, amounted
to approximately HK$ million. The Group will apply
such proceeds in accordance with the section headed
“Future plans and use of proceeds” set out in the
Prospectus.
The use of the net proceeds from the Listing Date up to
the date of this report had been applied as follows:
Planned use of
net proceeds
Utilised net
proceeds
from IPO
as at the date
of this report
Unutilised net
proceeds
from IPO
as at the date
of this report
Expected timeline for unutilised
net proceeds from IPO
(approximately) (approximately) (approximately)
計劃使用所得
款項淨額
（概約）
截至本報告日期
已動用之首次
公開發售所得
款項淨額
（概約）
截至本報告日期
未動用之首次
公開發售所得
款項淨額
（概約）
動用首次公開發售未動用
所得款項淨額的預期時間
Enhance SMT production
capacity
HK$ million HK$ million HK$ million HK$ million to be utilised during the
six months ending 31 December
2020, HK$ million to be
utilised during the six months
ending 30 June 2021 and HK$
million to be utilised during the six
months ending 31 December 2021
提升貼片產能 百萬港元 百萬港元 百萬港元 截至二零二零年十二月三十一日止六
個月、截至二零二一年六月三十
日止六個月及截至二零二一年
十二月三十一日止六個月，將分
別動用百萬港元、百萬港
元及百萬港元
首次公開發售所得款項用途
本公司股份於二零一九年十一月十三日於
聯交所主板上市。經扣除包銷佣金及其他
相關開支，首次公開發售所得款項淨額約
為百萬港元。本集團將按招股章程「未
來計劃及所得款項用途」一節所述動用該
等所得款項。
自上市日期至本報告日期，所得款項淨額
的使用情況如下：
Sprocomm Intelligence Limited Interim Report 202020
Planned use of
net proceeds
Utilised net
proceeds
from IPO
as at the date
of this report
Unutilised net
proceeds
from IPO
as at the date
of this report
Expected timeline for unutilised
net proceeds from IPO
(approximately) (approximately) (approximately)
計劃使用所得
款項淨額
（概約）
截至本報告日期
已動用之首次
公開發售所得
款項淨額
（概約）
截至本報告日期
未動用之首次
公開發售所得
款項淨額
（概約）
動用首次公開發售未動用
所得款項淨額的預期時間
Enhance research and
development capabilities
HK$ million HK$ million HK$ million HK$ million to be utilised during the
six months ending 31 December
2020, HK$ million to be utilised
during the six months ending 30
June 2021 and HK$ million to
be utilised during the six months
ending 31 December 2021
增強研發能力 百萬港元 百萬港元 百萬港元 截至二零二零年十二月三十一日止六
個月、截至二零二一年六月三十
日止六個月及截至二零二一年
十二月三十一日止六個月，將分
別動用百萬港元、百萬港
元及百萬港元
Enhance sales and marketing
force to diversify customer
base
HK$ million HK$ million HK$ million HK$ million to be utilised during the
six months ending 31 December
2020, HK$ million to be utilised
during the six months ending 30
June 2021 and HK$ million to
be utilised during the six months
ending 31 December 2021
加大銷售及市場推廣力度以
多樣化客戶基礎
百萬港元 百萬港元 百萬港元 截至二零二零年十二月三十一日止六
個月、截至二零二一年六月三十
日止六個月及截至二零二一年
十二月三十一日止六個月，將分
別動用百萬港元、百萬港
元及百萬港元
二零二零年中期業績報告 Sprocomm Intelligence Limited 21
Planned use of
net proceeds
Utilised net
proceeds
from IPO
as at the date
of this report
Unutilised net
proceeds
from IPO
as at the date
of this report
Expected timeline for unutilised
net proceeds from IPO
(approximately) (approximately) (approximately)
計劃使用所得
款項淨額
（概約）
截至本報告日期
已動用之首次
公開發售所得
款項淨額
（概約）
截至本報告日期
未動用之首次
公開發售所得
款項淨額
（概約）
動用首次公開發售未動用
所得款項淨額的預期時間
Upgrade enterprise planning
resource system
HK$ million HK$ million HK$ million HK$ million to be utilised during the
six months ending 31 December
2020, and HK$ million to be
utilised during the six months
ending 30 June 2021
升級企業計劃資源系統 百萬港元 百萬港元 百萬港元 截至二零二零年十二月三十一日止六
個月及截至二零二一年六月三十
日止六個月，將分別動用百萬
港元及百萬港元
Repayment of bank loans HK$ million HK$ million HK$ million HK$ million to be utilised during the
six months ending 31 December
2020, and HK$ million to be
utilised during the six months
ending 30 June 2021
償還銀行貸款 百萬港元 百萬港元 百萬港元 截至二零二零年十二月三十一日止六
個月及截至二零二一年六月三十
日止六個月，將分別動用百萬
港元及百萬港元
General working capital HK$ million HK$ million – N/A
一般營運資金 百萬港元 百萬港元 – 不適用
Total HK$ million HK$ million HK$ million
總計 百萬港元 百萬港元 百萬港元
Sprocomm Intelligence Limited Interim Report 202022
REPORT ON REVIEW OF CONDENSED
CONSOLIDATED FINANCIAL
STATEMENTS
TO THE BOARD OF DIRECTORS OF SPROCOMM
INTELLIGENCE LIMITED
(Incorporated in the Cayman Islands with limited liability)
Introduction
We have reviewed the condensed consolidated
financial statements of Sprocomm Intelligence Limited
(the “Company”) and its subsidiaries (the “Group”) set
out on pages 24 to 57, which comprise the condensed
consolidated statement of financial position as of 30
June 2020 and the related condensed consolidated
statement of profit or loss, the condensed consolidated
statement of profit or loss and other comprehensive
income, condensed consol idated statement of
changes in equity and condensed consolidated
statement of cash flows for the six-month period then
ended, and other explanatory notes. The Main Board
Listing Rules Governing the Listing of Securities on
The Stock Exchange of Hong Kong Limited require the
preparation of a report on interim financial information
to be in compliance with the relevant provisions thereof
and Hong Kong Accounting Standard (“HKAS”) 34
“Interim Financial Reporting” issued by the Hong Kong
Institute of Certified Public Accountants (the “HKICPA”).
The directors of the Company are responsible for the
preparation and presentation of these condensed
consolidated financial statements in accordance with
HKAS 34. Our responsibility is to express a conclusion
on these condensed consolidated financial statements
based on our review, and to report our conclusion
solely to you, as a body, in accordance with our agreed
terms of engagement, and for no other purpose. We
do not assume responsibility towards or accept liability
to any other person for the contents of this report.
簡明綜合財務報表審閱報告
致 S P R O C O M M I N T E L L I G E N C E
LIMITED董事會
（於開曼群島註冊成立之有限公司）
引言
吾 等 已 審 閱 載 於 第 24 至 57 頁 Sprocomm
Intelligence Limited（「貴公司」，連同其附
屬公司稱為「貴集團」）的簡明綜合財務報
表，此簡明綜合財務報表包括於二零二零
年六月三十日的簡明綜合財務狀況表及截
至該日止六個月的簡明綜合損益表、簡明
綜合損益及其他全面收益表、簡明綜合權
益變動表和簡明綜合現金流量表以及其他
附註。根據香港聯合交易所有限公司主板
證券上市規則規定，編製中期財務資料報
告須按照其相關條文規定及香港會計師公
會（「香港會計師公會」）頒佈之香港會計準
則（「香港會計準則」）第34條「中期財務報
告」。 貴公司董事負責根據香港會計準則
第34號編製及呈報該等簡明綜合財務報
表。吾等之責任為根據約定的委聘條款基
於我們的審閱就該等簡明綜合財務報表發
表結論，並僅向全體股東報告有關結論，
除此之外別無其他目的。吾等不會就本報
告的內容對任何其他人士負責或承擔責任。
二零二零年中期業績報告 Sprocomm Intelligence Limited 23
Scope of Review
We conducted our review in accordance with Hong
Kong Standard on Review Engagements 2410
“Review of Interim Financial Information Performed by
the Independent Auditor of the Entity” issued by the
HKICPA. A review of these condensed consolidated
financial statements consists of making inquiries,
primarily of persons responsible for financial and
accounting matters, and applying analytical and other
review procedures. A review is substantially less in
scope than an audit conducted in accordance with
Hong Kong Standards on Auditing and consequently
does not enable us 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
Based on our review, nothing has come to our
attention that causes us to believe that the condensed
consolidated financial statements are not prepared, in
all material respects, in accordance with HKAS 34.
Without qualifying our review conclusion, we draw
attention to the fact that the comparative condensed
consolidated statement of profit or loss and other
comprehensive income, statement of changes in equity
and statement of cash flows for the six-month period
ended 30 June 2019 and the relevant explanatory notes
included in these condensed consolidated financial
statements have not been reviewed in accordance with
Hong Kong Standard on Review Engagements 2410
“Review of Interim Financial Information Performed by
the Independent Auditor of the Entity”.
SHINEWING (HK) CPA Limited
Certified Public Accountants
Wong Chuen Fai
Practising Certificate Number: P05589
Hong Kong
25 August 2020
審閱範圍
吾等已根據香港會計師公會頒佈的香港審
閱聘用準則第2410號「公司獨立核數師審
閱中期財務資料」進行審閱。該等簡明綜
合財務報表的審閱工作包括主要向負責財
務會計事項的人員作出查詢，並進行分析
及其他審閱程序。由於審閱的範圍遠較按
照香港審計準則進行審核的範圍為小，所
以不能保證吾等會注意到在審核中可能會
被發現的所有重大事項。因此，吾等不會
發表任何審核意見。
結論
我們審閱後並無發現任何事項，令我們認
為簡明綜合財務報表在各重大方面未有根
據香港會計準則第34號編製。
在並無對我們的審閱結論作出保留之情況
下，謹請注意該等簡明綜合財務報表所披
露，截至二零一九年六月三十日止六個月
的比較簡明綜合損益及其他全面收益表、
權益變動表及現金流量表以及相關說明附
註並無根據香港審閱聘用準則第2410號
「公司獨立核數師審閱中期財務資料」進行
審閱。
信永中和（香港）會計師事務所有限公司
執業會計師
黃銓輝
執業證書編號：P05589
香港
二零二零年八月二十五日
Sprocomm Intelligence Limited Interim Report 202024
CONDENSED CONSOLIDATED
STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME
For the six months ended 30 June 2020
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
Note RMB’000 RMB’000
附註 人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
Revenue 收益 4 857,580 1,125,896
Cost of sales 銷售成本 (770,740) (1,028,349)
Gross profit 毛利 86,840 97,547
Other gains and income 其他收益及收入 6 29,110 29,041
Selling expenses 銷售開支 (14,396) (16,149)
Administrative and other
expenses
行政及其他開支
(35,110) (34,743)
Research and development
expenses
研發開支
(50,804) (54,231)
Finance costs 財務費用 7 (2,740) (6,610)
Profit before tax 除稅前溢利 12,900 14,855
Income tax expenses 所得稅開支 8 (304) (2,187)
Profit for the period 期內溢利 9 12,596 12,668
Other comprehensive expenses for
the period:
期內其他全面開支：
Item that may be reclassified
subsequently to profit or loss
其後可能重新分類至
損益的項目
Exchange difference arising
on translating foreign
operations
換算海外業務產生
的匯兌差額
(1,278) (1,262)
Total comprehensive income for
the period
期內全面收益總額
11,318 11,406
簡明綜合損益及其他全面收益表
截至二零二零年六月三十日止六個月
二零二零年中期業績報告 Sprocomm Intelligence Limited 25
簡明綜合損益及其他全面收益表
（續）
截至二零二零年六月三十日止六個月
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
Note RMB’000 RMB’000
附註 人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
Profit (loss) attributable to: 以下各方應佔溢利
（虧損）：
Owners of the Company 本公司擁有人 12,655 13,511
Non-controlling interests 非控股權益 (59) (843)
12,596 12,668
Total comprehensive income
(expenses) attributable to:
以下各方應佔全面收益
（開支）總額：
Owners of the Company 本公司擁有人 11,377 12,249
Non-controlling interests 非控股權益 (59) (843)
11,318 11,406
Earnings per share 每股盈利
Basic and diluted (RMB cents) 基本及攤薄（人民幣分） 11
CONDENSED CONSOLIDATED
STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME
(CONTINUED)
For the six months ended 30 June 2020
Sprocomm Intelligence Limited Interim Report 202026
CONDENSED CONSOLIDATED
STATEMENT OF FINANCIAL POSITION
At 30 June 2020
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
Note (Unaudited) (Audited)
附註 （未經審核） （經審核）
Non-current Assets 非流動資產
Property, plant and equipment 物業、廠房及設備 12 122,387 127,913
Right-of-use assets 使用權資產 11,651 17,345
Intangible assets 無形資產 13 6,706 6,391
Deferred tax assets 遞延稅項資產 708 707
141,452 152,356
Current Assets 流動資產
Inventories 存貨 280,782 283,956
Trade and bills receivables 貿易應收款項及
應收票據 14 407,842 622,161
Financial assets at fair value
through profit or loss
按公平值計入損益的
金融資產 16 20,910 285,650
Prepayments and
other receivables
預付款項及其他
應收款項 15 103,531 73,995
Pledged bank deposits 已質押銀行存款 17 114,387 81,165
Restricted deposits 受限制存款 18 1,723 –
Time deposits 定期存款 19 49,278 –
Bank balances and cash 銀行結餘及現金 123,718 126,682
1,102,171 1,473,609
Current Liabilities 流動負債
Trade and bills payables 貿易應付款項及
應付票據 20 614,650 876,707
Accruals and other payables 應計費用及其他
應付款項 96,455 115,641
Contract liabilities 合約負債 21 96,125 63,331
Borrowings 借款 22 48,266 184,153
Lease liabilities 租賃負債 9,861 11,962
Deferred income 遞延收入 5,534 5,228
Income tax payable 應付所得稅 2,262 5,151
873,153 1,262,173
Net current assets 流動資產淨值 229,018 211,436
Total assets less
current liabilities
總資產減流動負債
370,470 363,792
簡明綜合財務狀況表
於二零二零年六月三十日
二零二零年中期業績報告 Sprocomm Intelligence Limited 27
簡明綜合財務狀況表（續）
於二零二零年六月三十日
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
Note (Unaudited) (Audited)
附註 （未經審核） （經審核）
Capital and Reserves 資本及儲備
Share capital 股本 8,945 8,945
Reserves 儲備 304,119 292,042
Equity attributable to owners of
the Company
本公司擁有人應佔權益
313,064 300,987
Non-controlling interests 非控股權益 1,947 2,006
Total Equity 權益總額 315,011 302,993
Non-current liabilities 非流動負債
Deferred income 遞延收入 20,198 22,167
Deferred tax liabilities 遞延稅項負債 12,702 10,846
Lease liabilities 租賃負債 1,980 5,682
Borrowings 借款 22 20,579 22,104
55,459 60,799
370,470 363,792
CONDENSED CONSOLIDATED
STATEMENT OF FINANCIAL POSITION
(CONTINUED)
At 30 June 2020
Sprocomm Intelligence Limited Interim Report 202028
CONDENSED CONSOLIDATED
STATEMENT OF CHANGES IN EQUITY
For the six months ended 30 June 2020
Attributable to owners of the Company
本公司擁有人應佔
Share
capital
Share
premium
Statutory
reserve
Translation
reserve
Merger
reserve
Other
reserves
Retained
profits Sub-total
Non-
controlling
interests Total
股本 股份溢價 法定儲備 換算儲備 合併儲備 其他儲備 保留溢利 小計 非控股權益 總計
RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000
人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元
At 1 January 2020 於二零二零年
一月一日 8,945 89,439 16,226 (4,627) (26,744) 86,138 131,610 300,987 2,006 302,993
Profit (loss) for the period 期內溢利（虧損） – – – – – – 12,655 12,655 (59) 12,596
Exchange difference
arising on translating
foreign operations
換算海外業務產生
的匯兌差額
– – – (1,278) – – – (1,278) – (1,278)
Total comprehensive
(expenses) income for
the period
期內全面（開支）
收益總額
– – – (1,278) – – 12,655 11,377 (59) 11,318
Share-based payment
(note 23)
股份支付
（附註23） – – – – – 700 – 700 – 700
At 30 June 2020
(Unaudited)
於二零二零年
六月三十日
（未經審核） 8,945 89,439 16,226 (5,905) (26,744) 86,838 144,265 313,064 1,947 315,011
簡明綜合權益變動表
截至二零二零年六月三十日止六個月
二零二零年中期業績報告 Sprocomm Intelligence Limited 29
CONDENSED CONSOLIDATED
STATEMENT OF CHANGES IN EQUITY
(CONTINUED)
For the six months ended 30 June 2020
Attributable to owners of the Company
本公司擁有人應佔
Share
capital
Statutory
reserve
Translation
reserve
Merger
reserve
Other
reserves
Retained
profits Sub-total
Non-
controlling
interests Total
股本 法定儲備 換算儲備 合併儲備 其他儲備 保留溢利 小計 非控股權益 總計
RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000
人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元 人民幣千元
At 1 January 2019 於二零一九年一月一日 5 10,921 (8,239) (26,744) 86,445 97,917 160,305 3,557 163,862
Profit (loss) for the period 期內溢利（虧損） – – – – – 13,511 13,511 (843) 12,668
Exchange difference arising on
translating foreign operations
換算海外業務產生的
匯兌差額 – – (1,262) – – – (1,262) – (1,262)
Total comprehensive
(expenses) income for the
period
期內全面（開支）
收益總額
– – (1,262) – – 13,511 12,249 (843) 11,406
At 30 June 2019 (Unaudited) 於二零一九年六月三十日
（未經審核） 5 10,921 (9,501) (26,744) 86,445 111,428 172,554 2,714 175,268
簡明綜合權益變動表（續）
截至二零二零年六月三十日止六個月
Sprocomm Intelligence Limited Interim Report 202030
CONDENSED CONSOLIDATED
STATEMENT OF CASH FLOWS
For the six months ended 30 June 2020
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
NET CASH USED IN OPERATING
ACTIVITIES
經營活動所用現金淨額
(61,867) (167,584)
INVESTING ACTIVITIES 投資活動
Purchase of property, plant and
equipment
購買物業、廠房及設備
– 972
Payments for intangible assets 就無形資產付款 (774) –
Purchase of financial assets at
fair value through profit or loss
購買按公平值計入損益的
金融資產 (31,380) (753,562)
Proceeds from disposal of financial
assets at fair value through
profit or loss
出售按公平值計入損益的
金融資產所得款項
301,662 817,451
Placement in time deposits 存入定期存款 (49,278) –
Increase in restricted deposits 受限制存款增加 (1,723) –
Placement in pledged bank deposits 存入已質押銀行存款 (178,814) (35,670)
Withdrawal of pledged bank deposits 提取已質押銀行存款 145,796 252
Repayment from a related company 關聯公司還款 – 1,076
Repayment from a former related
company
一間前關聯公司還款
– 5,774
Interest received 已收利息 2,907 607
NET CASH GENERATED FROM
INVESTING ACTIVITIES
投資活動所得現金淨額
188,396 36,900
FINANCING ACTIVITIES 融資活動
Government subsidies received 已收政府補貼 16,017 12,891
New borrowings raised 新籌集借款 73,278 254,180
Repayment of borrowings 償還借款 (211,331) (134,791)
Payments of lease liabilities 租賃負債付款 (5,803) (3,490)
Interest paid 已付利息 (2,740) (6,610)
NET CASH (USED IN) FROM
FINANCING ACTIVITIES
融資活動（所用）所得
現金淨額 (130,579) 122,180
NET DECREASE IN CASH AND
CASH EQUIVALENTS
現金及現金等價物減少淨額
(4,050) (8,504)
CASH AND CASH EQUIVALENTS
AT BEGINNING OF PERIOD
期初現金及現金等價物
126,682 56,118
Effect of foreign exchange rate changes 匯率變動的影響 1,086 23
CASH AND CASH EQUIVALENTS
AT END OF PERIOD
期末現金及現金等價物
123,718 47,637
簡明綜合現金流量表
截至二零二零年六月三十日止六個月
二零二零年中期業績報告 Sprocomm Intelligence Limited 31
NOTES TO THE CONDENSED
CONSOLIDATED FINANCIAL
STATEMENTS
For the six months ended 30 June 2020
1. GENERAL INFORMATION
The Company was incorporated in the Cayman
Islands under the Companies Law, Chapter 22
(Law 3 of 1961, as combined and revised) of the
Cayman Islands as an exempted company with
limited liability on 15 August 2018 and its shares
have been listed on Main Board of The Stock
Exchange of Hong Kong Limited (the “Stock
Exchange”) since 13 November 2019 (the “Listing
Date”). The ultimate controlling parties are Mr.
Li Chengjun and Mr. Xiong Bin (the “Controlling
Shareholders”).
The Company is an investment holding company.
The principal activities of its subsidiaries are
designing, manufacturing and sales of mobile
phones and printed circuit board assembly
(“PCBA”) and Internet of things (“IoT”) related
products and investment holding.
The condensed consolidated financial statements
are presented in RMB which is also the functional
currency of the Company, and all values are
rounded to the nearest thousands, except when
otherwise indicated.
簡明綜合財務報表附註
截至二零二零年六月三十日止六個月
1. 一般資料
本 公 司 於 二 零 一 八 年 八 月 十 五 日
根 據 開 曼 群 島 法 律 第 22 章 公 司 法
（一九六一年法例三，經合併及修訂）
在開曼群島註冊成立為獲豁免有限
公司，其股份於二零一九年十一月
十三日（「上市日期」）在香港聯合交
易所有限公司（「聯交所」）主板上市。
最終控股方為李承軍先生及熊彬先
生（「控股股東」）。
本公司為一間投資控股公司。其附
屬公司的主要業務活動為設計、製
造及銷售手機、印刷電路板組裝（「印
刷電路板組裝」）及物聯網（「物聯網」）
相關產品以及投資控股。
除另有註明者外，簡明綜合財務報
表乃以本公司功能貨幣呈列及所有
數值均調整至最接近的千元人民幣。
Sprocomm Intelligence Limited Interim Report 202032
2. 編製基準
本集團截至二零二零年六月三十日
止六個月的簡明綜合財務報表乃根
據香港會計師公會（「香港會計師公
會」）頒佈之香港會計準則（「香港會
計準則」）第34號「中期財務報告」編
製以及香港聯合交易所證券上市規
則（「上市規則」）附錄十六的適用披
露規定。
3. 主要會計政策
簡明綜合財務報表乃按歷史成本基
準編製，惟若干按公平值（倘適用）
計量之金融工具除外。
除因採用香港財務報告準則的新修
訂及採用與本集團相關的會計政策
而導致的會計政策變動外，簡明綜
合財務報表所採用的會計政策乃與
編製本集團截至二零一九年十二月
三十一日止年度的年度綜合財務報
表所採用者一致。
股份支付交易
以權益結算的股份支付交易
向僱員授出購股權
所獲取服務的公平值乃參照所授出
購股權於授出日期的公平值而釐定，
於歸屬期按直線法支銷。
於報告期末，本集團會修正其對於
預計最終歸屬的購股權數目的估計。
於歸屬期修正原先估計產生的影響
（如有）於損益中確認，以累計費用
反映修正後的估計，購股權儲備亦
隨之相應調整。
2. BASIS OF PREPARATION
The condensed consolidated financial statements
of the Group for the six months ended 30 June
2020 have been prepared in accordance with
Hong Kong Accounting Standard (“HKAS”) 34
“Interim Financial Reporting” issued by the Hong
Kong Institute of Certified Public Accountants
(“HKICPA”) and the appl icable disclosure
provisions of Appendix 16 to the Rules Governing
the Listing of Securities on The Stock Exchange
of Hong Kong Limited (the “Listing Rules”).
3. PRINCIPAL ACCOUNTING POLICIES
The condensed consolidated financial statements
have been prepared on the historical cost basis
except for certain financial instruments, which are
measured at fair values, as appropriate.
Other than changes in accounting polices
r e s u l t i n g f r o m t h e a p p l i c a t i o n o f n e w
amendments to Hong Kong Financial Reporting
Standards and application of the accounting
policies which become relevant to the Group,
the accounting policies used in the condensed
consolidated financial statements are consistent
with those followed in the preparation of the
Group’s annual consolidated financial statements
for the year ended 31 December 2019.
Share-based payment transactions
Equity-settled share-based payment
transactions
Share options granted to employees
The fair value of services received determined
by reference to the fair value of share options
granted at the date of grant is expensed on a
straight-line basis over the vesting period.
At the end of the reporting period, the Group
revises its estimates of the number of options
that are expected to ultimately vest. The impact
of the revision of the original estimates during the
vesting period, if any, is recognised in profit or
loss such that the cumulative expense reflects
the revised estimate, with a corresponding
adjustment to share options reserve.
二零二零年中期業績報告 Sprocomm Intelligence Limited 33
3. PRINCIPAL ACCOUNTING POLICIES
(CONTINUED)
Share-based payment transactions
(Continued)
Equity-settled share-based payment
transactions (Continued)
Share options granted to employees (Continued)
When share options are exercised, the amount
previously recognised in share options reserve
will be transferred to share premium. When the
share options are forfeited after the vesting date
or are still not exercised at the expiry date, the
amount previously recognised in share options
reserve will be transferred to retained earnings.
Application of new and amendments
to Hong Kong Financial Reporting
Standards
In the current interim period, the Group has
applied, for the first time, the Amendments
to References to the Conceptual Framework
in Hong Kong Financial Reporting Standards
(“HKFRSs”) and the following amendments
to HKFRSs issued by the HKICPA which are
effective for the Group’s financial year beginning
1 January 2020:
Amendments to HKFRS 3 Definition of a Business
Amendments to HKAS 1
and HKAS 8
Definition of Material
Amendments to HKFRS 9,
HKAS 39 and HKFRS 7
Interest Rate
Benchmark Reform
The app l i ca t ion o f the Amendments to
References to the Conceptual Framework in
HKFRS and the above amendments to HKFRSs
in the current interim period has had no material
effect on the Group’s financial performance and
positions for the current and prior periods and/
or on the disclosures set out in these condensed
consolidated financial statements.
3. 主要會計政策（續）
股份支付交易 （續）
以權益結算的股份支付交易（續）
向僱員授出購股權（續）
當購股權獲行使時，原先於購股權
儲備內確認的款項將轉撥至股份溢
價。當購股權於歸屬期失效或仍未
行使時，原先於購股權儲備內確認
之款項將轉撥至保留收益。
採用新訂及經修訂香港財務報告
準則
於本中期，本集團首次採納香港會
計師公會頒佈的香港財務報告準則
（「香港財務報告準則」）中對概念性
框架之提述（修訂本）及下列香港財
務報告準則之修訂，自本集團二零
二零年一月一日開始的財政年度生
效：
香港財務報告準則第3號
（修訂本）
業務之定義
香港會計準則第1號及
香港會計準則第8號
（修訂本）
重大之定義
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
利率基準改革
於本中期採納香港財務報告準則中
對概念性框架之提述（修訂本）及香
港財務報告準則之上述修訂對本集
團本期間及過往期間及╱或於有關
簡明綜合財務報表所披露的財務表
現並無任何重大影響。
Sprocomm Intelligence Limited Interim Report 202034
4. 收益
收益指於一般業務過程中銷售貨品
產生之收益（經扣除折讓及銷售相關
稅項）。本集團的年內收益於某一時
間點確認。
按主要產品類型分列的客戶合約收
益分析如下：
4. REVENUE
Revenue represents revenue arising on sales of
goods in the normal course of business, net of
discounts and sales related taxes. The Group’s
revenue for the year is recognised at a point in
time.
An analysis of revenue from contracts with
customer disaggregated by major product types
is as follows:
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
Mobile phone 手機 538,569 1,059,832
PCBAs 印刷電路板組裝 58,401 13,394
IoT related products 物聯網相關產品 236,975 23,981
Others 其他 23,635 28,689
857,580 1,125,896
二零二零年中期業績報告 Sprocomm Intelligence Limited 35
5. SEGMENT INFORMATION
The executive directors of the Company,
being the chief operating decision makers,
review the Group’s internal reporting in order
to assess performance and allocate resource.
The Group is principally engaged in designing,
manufacturing and sales of mobile phones and
PCBA and IoT related Products. Information
reported to the chief operating decision makers,
for the purpose of resources allocation and
performance assessment, focuses on the
operating results of the Company as a whole
as the Group’s resources are integrated and no
discrete operating segment financial information
is available. Accordingly, no operating segment
information is presented.
Geographical information
Information about the Group’s revenue from
external customers presented based on the
location of customers is as follows:
Revenue from
external customers
外部客戶收益
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
India 印度 280,104 436,401
Algeria 阿爾及利亞 7,003 189,629
The PRC 中國 449,006 397,902
Pakistan 巴基斯坦 13,819 29,544
People’s Republic of Bangladesh 孟加拉人民共和國 107,387 23,390
Other regions 其他地區 261 49,030
857,580 1,125,896
5. 分部資料
本公司執行董事（即主要營運決策者）
審閱本集團的內部報告以評估表現
及分配資源。本集團主要從事設計、
製造及銷售手機、印刷電路板組裝
及物聯網相關產品。向主要營運決
策者呈報以供資源分配及表現評估
之資料專注於本公司整體經營業績，
因為本集團之資源已作整合，並無
獨立之經營分部財務資料。因此，
並無呈列經營分部資料。
地域資料
按客戶位置呈列的本集團外部客戶
收益資料如下：
Sprocomm Intelligence Limited Interim Report 202036
6. 其他收益及收入6. OTHER GAINS AND INCOME
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
Bank interest income 銀行利息收入 2,907 607
Exchange gain, net 匯兌收益淨額 – 6,503
Gain arising from change in
fair value of financial assets
at fair value through profit or loss
按公平值計入損益的
金融資產公平值變動
產生之收益 5,542 5,416
Government subsidies (Note) 政府補貼（附註） 14,613 12,891
Amortisation of government grants 政府補助攤銷 3,067 2,787
Sundry income 雜項收入 2,981 837
29,110 29,041
Note: The government subsidies represent the one-off
government grants that were received from local
government authorities of which the entitlements
were uncond i t i ona l and were the re fo re
immediately recognised as other income.
附註： 政府補貼指來自多個地方政府機關
的一次性政府補助金，有關補貼為
無條件，因此即時確認為其他收入。
二零二零年中期業績報告 Sprocomm Intelligence Limited 37
7. FINANCE COSTS
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
Interests on: 下列各項之利息：
Lease liabilities 租賃負債 400 412
Discounted bills financing and
factoring loans
票據融資貼現及保理貸款
1,662 5,414
Borrowings 借款 678 784
2,740 6,610
8. INCOME TAX EXPENSES
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
PRC Enterprise Income
Tax (“EIT”):
中國企業所得稅
（「企業所得稅」）：
– Current income tax －即期所得稅 79 1,973
– Over provision in prior year －過往年度超額撥備 (1,630) –
Deferred tax: 遞延稅項：
Charge to current period 於本期間扣除 1,855 214
Income tax expenses 所得稅開支 304 2,187
7. 融資成本
8. 所得稅開支
Sprocomm Intelligence Limited Interim Report 202038
8. INCOME TAX EXPENSES (CONTINUED)
The income tax expenses for the period can
be reconciled to the profit before tax per the
condensed consolidated statement of profit or
loss and other comprehensive income as follows:
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
Profit before tax 除稅前溢利 12,900 14,855
Tax at the domestic income tax
rate of 25%
按國內所得稅稅率25%
計算的稅項 3,225 3,714
Tax effect of tax losses not
recognised
未確認稅項虧損的
稅務影響 5,786 6,077
Utilisation of tax loss not
recognised
動用未確認的稅項虧損
(1,199) (1,382)
Effect of different tax rates of
subsidiaries operating in other
jurisdictions
於其他司法權區經營的
附屬公司的不同稅率
影響 (197) 12
Additional deduction arising from
research and development
expenses
研發開支產生的額外扣減
(3,759) (4,890)
Tax effect of tax exemption/
deduction from tax authority
稅務機關稅項豁免╱扣減
的稅務影響 (3,293) (2,025)
Over provision in prior years 過往年度超額撥備 (1,630) –
Withholding tax on undistributed
earnings of a PRC subsidiary
一間中國附屬公司
未分派盈利的預扣稅 1,371 681
Income tax expenses 所得稅開支 304 2,187
8. 所得稅開支（續）
本期間的所得稅開支與簡明綜合損
益及其他全面收益表的除稅前溢利
對賬如下：
二零二零年中期業績報告 Sprocomm Intelligence Limited 39
9. 期內溢利9. PROFIT FOR THE PERIOD
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Unaudited)
（未經審核） （未經審核）
Profit for the period has been
arrived at after charging
(crediting):
期內溢利經扣除（計入）
下列各項後達致：
Directors’ emoluments 董事酬金 1,025 890
Salaries, allowances and other
benefits (excluding directors’
emoluments)
薪金、津貼及其他福利
（不包括董事酬金）
33,745 33,029
Share-based payment expenses
granted to employees (Note 23)
向僱員授出股份支付開支
（附註23） 573 –
Contributions to retirement
benefits scheme (excluding
directors’ emoluments) (Note)
退休福利計劃供款
（不包括董事酬金）
（附註） 2,584 7,772
Total staff costs 員工成本總額 37,927 41,691
Auditors’ remuneration 核數師薪酬 227 401
Listing expenses 上市開支 – 8,569
Amortisation of intangible assets 無形資產攤銷 459 440
Amount of inventories
recognised as an expense
已確認為開支的存貨金額
770,740 1,028,349
Net foreign exchange
losses (gains)
匯兌虧損（收益）淨額
3,619 (6,503)
Depreciation of property, plant
and equipment
物業、廠房及設備折舊
5,526 5,783
Depreciation of right-of-use assets 使用權資產折舊 5,694 5,563
Impairment loss recognised
in respect of trade and bills
receivables
就貿易應收款項及應收票
據確認的減值虧損
6,583 2,530
Provision for litigation 法律訴訟之撥備 327 328
Note: According to the policy on reduction of social
insurance fees announced by the Ministry
of Human Resources and Social Security of
Shenzhen (Shen Ren She Gui [2020] ),
Shenzhen Sprocomm Telecommunicat ion
Technology Co., Ltd (“Shenzhen Sprocomm”), an
indirect wholly-owned subsidiary of the Company,
was entitled to a 50% reduction of the social
insurance fees during February to April 2020.
10. DIVIDENDS
No dividend was paid or proposed during the six
months ended 30 June 2020 and 2019, nor has
any dividend been proposed since the end of the
reporting period.
附註：根據深圳市人力資源和社會保障部
發佈關於降低社會保險費的政策（深
人社規 [2020]3號），本公司間接全
資附屬公司深圳禾苗通信科技有限
公司（「深圳禾苗」）於二零二零年
二月至四月期間的社會保險費可降
低50%。
10. 股息
截至二零二零年及二零一九年六月
三十日止六個月，概無支付或建議
宣派任何股息，自報告期末起亦無
建議宣派任何股息。
Sprocomm Intelligence Limited Interim Report 202040
11. EARNINGS PER SHARE
The calculat ion of the basic earnings per
share during the periods is based on the profit
attributable to the owners of the Company and
the weighted average number of ordinary shares
in issue.
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
Earnings for the purpose of basic
earnings per share (profit for the
period attributable to owners of
the Company)
用於計算每股基本盈利的
盈利（本公司擁有人應佔
期內溢利）
12,655 13,511
’000 ’000
千股 千股
Weighted average number of
ordinary shares for the purpose
of basic earnings per share
用於計算每股基本盈利的
普通股加權平均數
1,000,000 750,000
For the six months ended 30 June 2019, the
weighted average number of ordinary shares
for the purpose of basic earnings per share has
been adjusted for the capitalisation issue on 13
November 2019.
11. 每股盈利
期內，每股基本盈利之計算乃基於
本公司擁有人應佔溢利及已發行普
通股加權平均數計算。
截至二零一九年六月三十日止六個
月，用於計算每股基本盈利的普通
股 加 權 平 均 數 已 就 於 二 零 一 九 年
十一月十三日的資本化發行作出調整。
二零二零年中期業績報告 Sprocomm Intelligence Limited 41
11. 每股盈利（續）
每股攤薄盈利
於二零二零年六月三十日，並無達
致任何購股權的績效條件，故於計
算每股攤薄盈利時並無計及潛在攤
薄普通股。因此，截至二零二零年
六月三十日止期間的每股攤薄盈利
與每股基本盈利相同。
截至二零一九年六月三十日止期間
的每股攤薄盈利與每股基本盈利一
致，原因為該兩年並無發行在外的
潛在攤薄普通股。
12. 物業、廠房及設備變動
截至二零二零年六月三十日止六個
月，本集團並無添置物業、廠房及
設備（截至二零一九年六月三十日止
六個月：人民幣972,000元）。
13. 無形資產變動
截至二零二零年六月三十日止六個
月，本集團就添置無形資產支付約
人民幣774,000元（截至二零一九年
六月三十日止六個月：零）。
11. EARNINGS PER SHARE (CONTINUED)
Diluted earnings per share
As at 30 June 2020, none of the performance
conditions of the share options were met, and
thus the dilutive potential ordinary shares are not
included in the calculation of diluted earnings
per share. As a result, diluted earnings per share
is the same as basic earnings per share for the
period ended 30 June 2020.
Diluted earnings per share is same as basic
earnings per share for the period ended 30 June
2019 as there were no dilutive potential ordinary
shares outstanding during the period.
12. MOVEMENTS IN PROPERTY, PLANT AND
EQUIPMENT
During the six months ended 30 June 2020, the
Group has no addition of property, plant and
equipment (six months ended 30 June 2019:
RMB972,000).
13. MOVEMENTS IN INTANGIBLE ASSETS
During the six months ended 30 June 2020,
the Group paid approximately RMB774,000 on
addition of intangible assets (six months ended
30 June 2019: Nil).
Sprocomm Intelligence Limited Interim Report 202042
14. TRADE AND BILLS RECEIVABLES
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Audited)
（未經審核） （經審核）
Trade receivables 貿易應收款項 389,041 604,316
Bills receivables 應收票據 28,213 20,674
Less: Loss allowance for trade
and bills receivables
減：貿易應收款項及
應收票據虧損撥備 (9,412) (2,829)
Trade and bills receivables 貿易應收款項及應收票據 407,842 622,161
The gross amount of trade and bills receivables
arising from contracts with customers amounted
to approximately RMB417,254,000 as at 30 June
2020 (31 December 2019: RMB624,990,000).
The Group allows credit period of 30-90 days to
its trade customers depending on creditability
of the customers. The Group does not hold any
collateral over its trade and bills receivables. The
following is an aged analysis of trade and bills
receivables, presented based on invoice dates,
which approximates the respective revenue
recognition dates, at the end of the reporting
period.
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Audited)
（未經審核） （經審核）
Within 30 days 30天以內 270,056 459,100
31 to 60 days 31至60天 34,832 91,441
61 to 90 days 61至90天 14,236 25,784
Over 90 days 90天以上 88,718 45,836
Total 總計 407,842 622,161
No interest is charged on the trade and bills
receivables.
14. 貿易應收款項及應收票據
於二零二零年六月三十日，客戶合
約產生的貿易應收款項及應收票據
總額約為人民幣417,254,000元（二
零一九年十二月三十一日︰人民幣
624,990,000元）。
本集團視乎客戶的信用度向其貿易
客戶授出30至90天的信貸期。本集
團並無就其貿易應收款項及應收票
據持有任何抵押品。下表載列於報
告期末根據發票日期（與各自收益確
認日期相若）呈列的貿易應收款項及
應收票據的賬齡分析。
概無就貿易應收款項及應收票據收
取利息。
二零二零年中期業績報告 Sprocomm Intelligence Limited 43
14. 貿易應收款項及應收票據（續）
作為本集團信貸風險管理的一部分，
本集團對客戶進行內部信貸評級。
我們按共同信貸風險特徵參考債務
人過往逾期資料及債務人當前財務
狀況分析，根據撥備矩陣將債務人
分為三個內部信用等級組別（即：低
風險、中風險和高風險）。估計技術
或兩個期間作出的重大假設並無變
更。本集團個別及╱或共同確認貿
易應收款項及應收票據的全期預期
信貸虧損如下：
14. TRADE AND BILLS RECEIVABLES
(CONTINUED)
As part of the Group’s credit risk management,
the Group applies internal credit rating for its
customers. The debtors are grouped under a
provision matrix into three internal credit rating
buckets (namely: low risk, medium risk and high
risk) based on shared credit risk characteristic
by reference to past due exposure of the
debtor, and an analysis of the debtor’s current
financial position. There has been no change
in the estimation techniques or significant
assumptions made during the both periods. The
Group recognised lifetime ECL for trade and
bills receivables individually and/or collectively as
follows:
Average
expected
loss rate
Gross
carrying
amount
Loss
allowance
平均預期
虧損率 總賬面值 虧損撥備
% RMB’000 RMB’000
% 人民幣千元 人民幣千元
As at 30 June 2020 於二零二零年六月
三十日
Low risk (Unaudited) 低風險（未經審核） % 417,254 9,412
As at 31 December
2019
於二零一九年十二月
三十一日
Low risk 低風險 % 624,990 2,829
The estimated loss rate are estimated based
on historical observed default rates over the
expected life of the debtors and are adjusted for
forward-looking information (for example, the
current and forecasted economic growth rates
in PRC, India and other countries, which reflect
the general economic conditions of the industry
in which the debtors operate) that is available
without undue cost or effort. Such forward-
looking information is used by the management
of the Group to assess both the current as well
as the forecast direction of conditions at the
reporting date. The grouping is regularly reviewed
by the management of the Group to ensure
relevant information about specific debtors is
updated.
估計虧損率乃根據債務人預計年期
內觀察到的過往違約率估算，並就
無需耗費過多成本或精力獲得的前
瞻性資料進行調整（例如，反映債務
人經營所處行業整體經濟狀況的中
國、印度等國家當前及預期經濟增
長率）。報告日期，本集團管理層使
用該等前瞻性資料分析當前及未來
變化趨勢。本集團管理層會定期審
查有關組別，確保特定債務人的相
關資料為最新。
Sprocomm Intelligence Limited Interim Report 202044
14. TRADE AND BILLS RECEIVABLES
(CONTINUED)
Movements of impairment loss allowance of
trade and bills receivables are as follows:
RMB’000
人民幣千元
As at 1 January 2019 於二零一九年一月一日 (1,096)
ECL impairment loss allowance 預期信貸虧損減值虧損撥備 (1,733)
As at 31 December 2019 於二零一九年十二月三十一日 (2,829)
ECL impairment loss allowance 預期信貸虧損減值虧損撥備 (6,583)
As at 30 June 2020 (Unaudited) 於二零二零年六月三十日
（未經審核） (9,412)
During six months ended 30 June 2020, the
increase in ECL impairment loss allowance is
due to the decline in the credit environment as a
result of the Coronavirus disease pandemic.
As at 30 June 2020, the Group discounted and
factored trade and bills receivables in aggregate
amounts of approximately RMB45,217,000 (31
December 2019: RMB30,040,000) to banks and
factoring company for short term financing.
Transfers of financial assets
The following were the Group’s trade and
bills receivables as at 30 June 2020 and 31
December 2019 that were transferred to banks
and factoring company by discounting those
trade and bills receivables on a full recourse
basis. As the Group has not transferred the
significant risks and rewards relating to these
trade and bil ls receivables, it continues to
recognise the full carrying amount of the trade
and bills receivables and has recognised the cash
received on the transfer as secured borrowings.
These trade and bills receivables are carried at
amortised cost in the condensed consolidated
statements of financial position.
14. 貿易應收款項及應收票據（續）
貿易應收款項及應收票據的減值虧
損撥備變動如下：
截至二零二零年六月三十日止六個
月內，預期信貸虧損減值虧損撥備
增加是由於冠狀病毒疾病大流行導
致信貸環境轉差。
於二零二零年六月三十日，本集團
就短期融資向銀行及保理公司貼現
及保理總額為約人民幣45,217,000
元（二零一九年十二月三十一日︰人
民幣30,040,000元）的貿易應收款項
及應收票據。
金融資產轉讓
下文載列本集團於二零二零年六月
三十日及二零一九年十二月三十一
日的貿易應收款項及應收票據，而
該等貿易應收款項及應收票據透過
按全面追索權基準貼現已轉讓予銀
行及保理公司。由於本集團並無轉
讓該等貿易應收款項及應收票據相
關的重大風險及回報，其繼續確認
該等貿易應收款項及應收票據的賬
面總值，並已將因轉讓而收到的現
金確認為有抵押借貸。該等貿易應
收款項及應收票據於簡明綜合財務
狀況表按攤銷成本列賬。
二零二零年中期業績報告 Sprocomm Intelligence Limited 45
14. 貿易應收款項及應收票據（續）
已向銀行及保理公司貼現及保理且
具全面追索權的貿易應收款項及應
收票據如下：
14. TRADE AND BILLS RECEIVABLES
(CONTINUED)
The trade and bills receivables discounted and
factored to banks and a factoring company with
full recourse is as follows:
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Audited)
（未經審核） （經審核）
Carrying amount of transferred
assets
已轉讓資產的賬面值
45,217 30,040
Carrying amount of associated
liabilities
相關負債的賬面值
(45,217) (30,040)
Net position 淨額 – –
15. PREPAYMENTS AND OTHER
RECEIVABLES
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Audited)
（未經審核） （經審核）
Prepayments 預付款項 42,614 38,221
Deposits 按金 1,237 1,255
Other tax recoverable 其他可收回稅項 55,108 29,417
Others 其他 4,572 5,102
103,531 73,995
Note: Included in prepayments and other receivables
are other receivables and refundable deposits
of approximately RMB5,809,000 as at 30 June
2020 (31 December 2019: RMB6,357,000).
These balances have low risk of default or have
not been a significant increase in credit risk
since initial recognition and no impairment loss is
recognised.
15. 預付款項及其他應收款項
附註： 預付款項及其他應收款項之計入款
項為於二零二零年六月三十日之
其他應收款項及可退還按金約人民
幣5,809,000元（二零一九年十二月
三十一日︰人民幣6,357,000元）。
該等結餘違約風險低或自初始確認
以來信貸風險並無顯著增加及未確
認減值虧損。
Sprocomm Intelligence Limited Interim Report 202046
16. FINANCIAL ASSETS AT FAIR VALUE
THROUGH PROFIT OR LOSS
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Audited)
（未經審核） （經審核）
Structured deposits stated
at fair value
按公平值列賬的
結構性存款 20,910 285,650
The financial assets at fair value through profit or
loss (“FVTPL”) as at 30 June 2020 represented
contracts of principal guaranteed structured
deposits with banks in the PRC which are
presented as current assets since their maturities
are within 12 months from the end of the
reporting period based on the contract terms.
Pursuant to the relevant agreements, these
s t ruc tu red depos i t s ca r ry i n te res t a t a
variable rate per annum with reference to the
performance of foreign currency or interest rate
during the investment period and the principal
sums are denominated in RMB. The directors
of the Company consider the fair values of the
structured deposits, which are based on the
prices provided by the counterparty banks
representing the prices they would pay to redeem
the deposits at 30 June 2020, approximate to
their carrying values on the same day.
Management has assessed the credit quality of
the financial institution and considered the credit
risk to be not significant.
16. 按公平值計入損益的金融資產
於二零二零年六月三十日，按公平
值計入損益（「按公平值計入損益」）
的金融資產指與中國之銀行訂立的
保本型結構性存款合約，由於根據
合約條款其於報告期末起12個月內
到期，該等存款呈列為流動資產。
根據相關協議，該等結構性存款參
考投資期間外幣表現或利率每年按
浮動利率計息，而本金以人民幣計
值。本公司董事認為，結構性存款
之公平值按對手方銀行提供之價格
（即彼等於二零二零年六月三十日為
贖回存款而支付的價格）釐定，與同
日之賬面值相若。
管理層已評估金融機構的信貸質素
並認為信貸風險並不重大。
二零二零年中期業績報告 Sprocomm Intelligence Limited 47
17. 已抵押銀行存款
於二零二零年六月三十日，本集團
已質押約人民幣114,387,000元（二
零一九年十二月三十一日︰人民幣
81,165,000 元）的 銀 行 存 款 作 為 本
集 團 獲 授 貼 現 票 據 貸 款 及 一 般 銀
行融資的抵押。 存款按固定年利率
1%至%計息（二零一九年十二
月 三 十 一 日：人 民 幣 60,000,000
元 按 固 定 年 利 率 4% 計 息，人 民 幣
21,165,000元按浮動利率計息）。
18. 受限制存款
於二零二零年六月三十日，深圳禾
苗銀行存款約人民幣1,723,000元被
銀行凍結，是由於有關銀行已收到
法院關於訴訟請求的通知（如附註
27所披露）。
19. 定期存款
於二零二零年六月三十日，本集團
於中國銀行存放的定期存款期限為
六個月。存款按固定年利率%
至 % 計 息（二 零 一 九 年 十 二 月
三十一日：零）。
17. PLEDGED BANK DEPOSITS
As a t 30 June 2020 , bank depos i t s o f
approximately RMB114,387,000 (31 December
2019: RMB81,165,000) were pledged by the
Group for the purpose of securing discounted
bills loans and general banking facility granted to
the Group. The deposits carried fixed interest at
1% to % per annum (31 December 2019:
RMB60,000,000 at fixed rate of 4% per annum
and RMB21,165,000 carried floating interest
rate).
18. RESTRICTED DEPOSITS
As a t 30 June 2020 , bank depos i t s o f
approximately RMB 1,723,000 in Shenzhen
Sprocomm were being frozen by banks as the
respective banks had received notice from court
with regard to the litigation claim as disclosed in
note 27.
19. TIME DEPOSITS
As at 30 June 2020, the Group had fixed-term
time deposits in banks in the PRC with maturities
of six months. The deposits carry fixed interests
rate at % to % per annum (31 December
2019: Nil).
Sprocomm Intelligence Limited Interim Report 202048
20. TRADE AND BILLS PAYABLES
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Audited)
（未經審核） （經審核）
Trade payables 貿易應付款項 364,718 446,297
Bills payables 應付票據 249,932 430,410
Trade and bills payables 貿易應付款項及應付票據 614,650 876,707
The following is an aged analysis of trade and
bills payables presented based on invoice date at
the end of the reporting period.
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Audited)
（未經審核） （經審核）
Within 30 days 30天內 299,629 496,730
31 to 60 days 31至60天 97,235 78,763
61 to 90 days 61至90天 107,472 58,727
Over 90 days 90天以上 110,314 242,487
Total 總計 614,650 876,707
The average credit period on purchases of goods
is ranging from 30 to 60 days.
20. 貿易應付款項及應付票據
採購貨品的平均信貸期介乎30至60
天。
於報告期末，貿易應付款項及應付
票據按發票日期呈列的賬齡分析如下。
二零二零年中期業績報告 Sprocomm Intelligence Limited 49
21. MOVEMENTS IN CONTRACT LIABILITIES
During the current interim period, the Group
received approximately RMB79,052,000 advance
from customers due to new orders received.
22. MOVEMENTS IN BORROWINGS
Dur i ng t he cu r r en t i n t e r im pe r i od , t he
Group raised borrowings of approximately
RMB73,278,000 (six months ended 30 June
2019: approx imate ly RMB254,180,000)
and repaid borrowings of approx imate ly
RMB211,331,000 (six months ended 30 June
2019: approximately RMB134,791,000).
The weighted average effective interest rate of
borrowings for the six months ended 30 June
2020 was 4% per annum (six months ended 30
June 2019: 4% per annum).
23. SHARE-BASED PAYMENT
TRANSACTIONS
Share-option scheme
Pursuant to the Share Option Scheme of the
Company adopted in 2019, the Company
granted share options to subscribe for an
aggregate of 69,100,000 shares (the “Share
Options”) on 14 April 2020 to certain directors
and employees. The options have a validity
period of five years from the date of grant. The
Group has no legal or constructive obligations to
repurchase or settle the options in cash. These
options vest in tranches over a period of up to 3
years.
21. 合約負債變動
於本中期，由於接獲新訂單，本集
團 收 到 來 自 客 戶 的 墊 款 約 人 民 幣
79,052,000元。
22. 借款變動
於 本 中 期，本 集 團 籌 集 借 款 約 人
民 幣 73,278,000 元（截 至 二 零 一 九
年 六 月 三 十 日 止 六 個 月：人 民 幣
254,180,000元）及償還借款約人民
幣 211,331,000 元（截 至 二 零 一 九
年 六 月 三 十 日 止 六 個 月：人 民 幣
134,791,000元）。
截至二零二零年六月三十日止六個
月，借款的加權平均實際利率為每
年4%（截至二零一九年六月三十日
止六個月：每年4%）。
23. 股份支付交易
購股權計劃
根據本公司於二零一九年採納的購
股權計劃，本公司已於二零二零年
四月十四日向若干董事及僱員授出
可認購合共69,100,000股股份的購
股權（「購股權」）。購股權的有效期
自授出日期起計為期五年。本集團
並無法定或推定責任以現金購回或
結清購股權。該等購股權於不多於
三年的期間內分期歸屬。
Sprocomm Intelligence Limited Interim Report 202050
23. SHARE-BASED PAYMENT
TRANSACTIONS (CONTINUED)
Share-option scheme (Continued)
The options are to be vested in three tranches,
subject to the Group achieving its profit target
and the directors and employees meeting their
service conditions as well (the “Performance
Conditions”). The directors and employees
should remain in the Group’s employment until
those Performance Conditions are satisfied.
Subject to the fulfillment of the certain financial
performance targets by the Group, the three
tranches of options are exercisable in the
following manner:
(i) 30% o f the Share Opt ions w i l l be
exercisable commencing from 1 July 2021;
(ii) 30% o f the Share Opt ions w i l l be
exercisable commencing from 1 July 2022;
(iii) the remaining 40% of the Share Options
will be exercisable commencing from 1
July 2023.
The following table discloses movements of the
Company’s share options held by directors and
employees during the period ended 30 June
2020:
Grantee:
Outstanding
at 1 January
2020
Granted
during the
period
Outstanding
at 30 June
2020
承授人：
於二零二零年
一月一日
尚未行使 期內已授出
於
二零二零年
六月三十日
尚未行使
Directors 董事
14 April 2020 二零二零年四月十四日 – 12,500,000 12,500,000
Employees 僱員
14 April 2020 二零二零年四月十四日 – 56,600,000 56,600,000
– 69,100,000 69,100,000
Exercisable at the end
of the period
期末可行使
– – –
Exercise price 行使價 – HK$
港元
HK$
港元
23. 股份支付交易（續）
購股權計劃（續）
購股權將分三期歸屬，惟須待本集
團達成溢利目標及董事與僱員達成
服務條件（「表現條件」）後方可作實。
董事及僱員須受僱於本集團直至該
等表現條件達成。該三期購股權可
以下述方式行使（惟須滿足本集團若
干財務表現目標）：
(i) 30%的購股權可自二零二一年
七月一日起行使；
(ii) 30%的購股權可自二零二二年
七月一日起行使；
(iii) 餘 下 的 40% 購 股 權 可 自 二 零
二三年七月一日起行使；
下表載列截至二零二零年六月三十
日止期間董事及僱員持有本公司購
股權的變動：
二零二零年中期業績報告 Sprocomm Intelligence Limited 51
23. 股份支付交易（續）
購股權計劃（續）
於二零二零年四月十四日，根據購
股權計劃於授出日期授出的購股權
之公平值（採用二項式期權定價模型
釐定）約為人民幣13,812,000元。二
項式模型的主要輸入數據如下：
23. SHARE-BASED PAYMENT
TRANSACTIONS (CONTINUED)
Share-option scheme (Continued)
The total fair value, which was determined by
using Binomial option price model, of the options
granted under the share-option scheme as at the
grant date are approximately RMB13,812,000
on 14 April 2020. The significant inputs into the
Binomial Model are as follows:
Tranche 1 Tranche 2 Tranche 3
第一批 第二批 第三批
Date of grant 14 April 2020 14 April 2020 14 April 2020
授出日期
二零二零年
四月十四日
二零二零年
四月十四日
二零二零年
四月十四日
Exercisable period
(subject to vesting
conditions being
fulfilled)
可行使期間
（惟須符合
歸屬條件）
1 July 2021 to
13 April 2025
二零二一年
七月一日至
二零 二五年
四月十三日
1 July 2022 to
13 April 2025
二零二二年
七月一日至
二零 二五年
四月十三日
1 July 2023 to
13 April 2025
二零二三年
七月一日至
二零 二五年
四月十三日
Share price at the grant
date
授出日期股價 HK$
港元
HK$
港元
HK$
港元
Exercise price per share 每股行使價 HK$
港元
HK$
港元
HK$
港元
Expected volatility 預期波幅 % % %
Expected life of options 購股權預計年期 5 years
五年
5 years
五年
5 years
五年
Expected dividend yield 預計股息率 0% 0% 0%
Annual risk-free interest
rate
無風險年利率
% % %
The expected volat i l i ty is determined by
calculating the historical volatility of the price of
listed companies with businesses similar to the
Group. The expected dividend yield is determined
by the directors based on the expected future
performance and dividend policy of the Group.
預計波幅乃透過計算與本集團業務
相似的上市公司的過往價格波幅釐
定。預計股息率乃由董事根據預期
未來表現及本集團股息政策釐定。
Sprocomm Intelligence Limited Interim Report 202052
23. SHARE-BASED PAYMENT
TRANSACTIONS (CONTINUED)
Share-option scheme (Continued)
The Binomial Model has been used to estimate
the fair value of the options. The variables and
assumptions used in computing the fair value
of the share options are based on the director’s
best estimate. The value of an option varies
with different variables of certain subjective
assumptions.
During the six months ended 30 June 2020, the
share-based payment expenses of approximately
RMB700,000 was charged to condensed
consolidated statement of profit or loss and other
comprehensive income.
24. PLEDGE OF ASSETS
At 30 June 2020, the Group had pledged or
discounted the following assets to secure
banking and borrowing facilities and factoring
loan granted to the Group:
30 June
2020
31 December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
(Unaudited) (Audited)
（未經審核） （經審核）
Trade and bills receivables 貿易應收款項及應收票據 45,217 30,040
Pledged bank deposits 已抵押銀行存款 114,387 81,165
Ownership interests in land and
building
土地及樓宇所有權權益
58,333 59,872
Total 總計 217,937 171,077
23. 股份支付交易（續）
購股權計劃（續）
購股權的公平值乃使用二項式模式
估計得出。計算購股權公平值所用
的變量及假設乃基於董事的最佳估
計。購股權的價值會因若干主觀假
設的不同變量而有所不同。
截至二零二零年六月三十日止六個
月，股份支付開支約人民幣700,000
元計入簡明綜合損益及其他全面收
益表。
24. 資產抵押
於二零二零年六月三十日，為取得
授予本集團銀行及借款融資以及保
理貸款，本集團已抵押或折現以下
資產：
二零二零年中期業績報告 Sprocomm Intelligence Limited 53
25. 按公平值計入損益的金融資產之
公平值計量
下表提供金融工具之分析，乃按就
經常性計量於各報告期末之公平值
計量，並根據本集團會計政策基於
公平值可觀察之程度分類為第二級別。
25. FAIR VALUE MEASUREMENT OF
FINANCIAL ASSETS AT FAIR VALUE
THROUGH PROFIT OR LOSS
The following table provides an analysis of
financial instruments that are measured at fair
value at the end of each reporting period for
recurring measurement, grouped into Level 2
based on the degree to which the fair value
is observable in accordance with the Group’s
accounting policy.
As at
30 June
2020
As at 31
December
2019
二零二零年
六月三十日
二零一九年
十二月
三十一日
RMB’000 RMB’000
人民幣千元 人民幣千元
Financial assets at FVTPL 按公平值計入損益的
金融資產
Structured deposits 結構性存款 20,910 285,650
The valuation method for fair value measurement
of structure deposits refers to the price quotation
from the issuing banks.
The directors of the Company consider that
the carrying amounts of other financial assets
and financial liabilities recorded at amortised
cost in the condensed consolidated financial
statements approximate their fair value due to
their immediate or short-term maturities.
There were no transfers between levels of fair
value hierarchy in the current and prior years.
結構性存款公平值計量使用的估值
方法指發行銀行的報價。
本公司董事認為，按攤銷成本於簡
明綜合財務報表入賬之其他金融資
產及金融負債之賬面值與彼等之公
平值相若，乃由於彼等為即時或短
期到期。
於本年度及過往年度，公平值層級
間並無轉撥。
Sprocomm Intelligence Limited Interim Report 202054
26. RELATED PARTY TRANSACTIONS
Compensation of key management
personnel
The remuneration of directors of the Company
and other members of key management during
the year was as follows:
Six months ended 30 June
截至六月三十日止六個月
2020 2019
二零二零年 二零一九年
RMB’000 RMB’000
人民幣千元 人民幣千元
Short-term benefits 短期福利 1,309 1,006
Post-employment benefits 離職後福利 101 222
Share-based payment 股份支付 193 –
1,603 1,228
27. LITIGATIONS
During the reporting period, there were legal
claims ar is ing from the normal course of
business being lodged against the Group and
no specific claim amount has been specified
in the applications of these claims except as
detailed below. In the opinion of the directors
of the Company and after consulting the legal
professional advice, the ultimate liability under
these claims would not have a material adverse
impact on the financial position or results of the
Group.
26. 關聯方交易
主要管理人員之薪酬
本公司董事及其他主要管理人員於
本年度的薪酬如下：
27. 訴訟
於報告期間，本集團於一般業務過
程中涉入一項法律索償，除下文詳
述者外，該等索償申請中無指明具
體索償金額。本公司董事經諮詢法
律專業意見後認為，該等索償之最
終責任將不會對本集團之財務狀況
或業績造成重大不利影響。
二零二零年中期業績報告 Sprocomm Intelligence Limited 55
27. LITIGATIONS (CONTINUED)
(i) On 28 November 2018, an independent
factoring company filed a joint lawsuit
(the “Joint Lawsuit”) claim at Beijing First
Intermediate People’s Court ( 北 京 市
第 一 中 級 人 民 法 院 ) for an aggregate
sum of approximately RMB53,781,000
of outstanding factored loan principal
with recourse, interest and related cost
against Shenzhen Sprocomm, a customer
of Shenzhen Sprocomm for which the
factored accounts receivable was due
from (the “First Defendant”) and a number
of other independent third parties, being
other suppliers of the First Defendant with
factoring agreements signed with the
plaintiff (the “Other Defendants”).
Pursuant to a factor ing agreement
signed between Shenzhen Sprocomm
and the plaintiff on 22 December 2017,
Shenzhen Sprocomm has assigned its
then outstanding accounts receivables
from the First Defendant, in the amount
o f app rox ima te l y RMB53 ,200 ,000
(adjusted to RMB40,000,000 pursuant to
a supplement agreement) to the plaintiff
(as factor ) and obtained a factored
loan financing with recourse of RMB
40,000,000. After the transfer of the
accounts receivables to the plaintiff, the
plaintiff owned the right to receive the
outstanding amount of the accounts
receivables from the First Defendant. Other
Defendants who are also suppliers to the
First Defendant also factored certain of
their respective accounts receivables from
the First Defendant with the plaintiff. The
First Defendant failed to settle its then
outstanding accounts payable due to the
plaintiff (which were attributable by the
accounts receivables factored by Shenzhen
Sprocomm and Other Defendants) in an
aggregate sum of million when
they fell due.
27. 訴訟（續）
(i) 於 二 零 一 八 年 十 一 月 二 十 八
日，一間獨立保理公司就具追
索權之未償還保理貸款本金、
利息及相關成本合共約人民幣
53,781,000元向北京市第一中
級人民法院提起共同訴訟（「共
同訴訟」），起訴深圳禾苗、一
名欠付保理應收賬款之深圳禾
苗客戶（「第一被告」）及數名其
他獨立第三方（為與原告簽訂
保理協議之第一被告的其他供
應商）（「其他被告」）。
根 據 深 圳 禾 苗 與 原 告 於 二 零
一七年十二月二十二日簽訂之
保理協議，深圳禾苗已向原告
（作為保理人）轉讓當時應收第
一被告之未收回應收賬款約人
民幣53,200,000元（根據補充
協議調整至人民幣40,000,000
元），並獲得具追索權之保理
貸 款 融 資 人 民 幣 40,000,000
元。於向原告轉讓應收賬款後，
原告擁有向第一被告收取未收
回應收賬款之權利。其他被告
（亦為第一被告之供應商）亦向
原告保理各自應收第一被告之
若干賬款。第一被告於有關款
項到期時未能償付當時應付原
告之未償還款項（由深圳禾苗
及其他被告保理之應收賬款構
成）合共人民幣百萬元。
Sprocomm Intelligence Limited Interim Report 202056
27. 訴訟（續）
(i) （續）
於二零一九年四月八日，北京
市第一中級人民法院駁回共同
訴訟且原告於法定期限內未就
裁定提起上訴，該案件已結案。
於二零一九年五月七日，原告
於北京市海淀區人民法院就償
還根據保理協議所欠應收賬款
人民幣萬元（「相關款項」）
及相關利息針對深圳禾苗通信
科技有限公司（「深圳禾苗」）及
第一被告提起另一起訴訟。
經計及第一被告先前向原告支
付的相關款項，深圳禾苗尚欠
負債人民幣百萬元（已包
括 在 簡 明 綜 合 財 務 狀 況 表 的
借款），加上相關利息、法律
成 本 及 訴 訟 費 總 額 約 人 民 幣
百萬元（二零一九年十二月
三十一日：人民幣百萬元）。
於截至二零二零年六月三十日
止六個月，法律訴訟程序仍在
進行，本公司董事參考所得法
律意見及資料，已於綜合損益
及其他全面收益表的行政開支
以及綜合財務狀況表的其他應
付 款 項 確 認 額 外 撥 備 人 民 幣
327,000元。
於二零二零年六月三十日，本
集 團 的 訴 訟 撥 備 約 為 人 民 幣
百 萬 元（二 零 一 九 年 十 二
月三十一日：人民幣百萬
元），計入簡明綜合財務狀況
表的其他應付款項。
27. LITIGATIONS (CONTINUED)
(i) (continued)
On 8 April 2019, Beijing First Intermediate
People’s Court dismissed the Joint Lawsuit
and no appeal on the ruling has been
filed by the plaintiff within the statutory
time limitation and the case was closed.
On 7 May 2019, the plaintiff separately
filed another lawsuit at Beijing Haidian
District People’s Court against Shenzhen
Sprocomm Technology Limited (“Shenzhen
Sprocomm”) and the First Defendant for
the repayment of the outstanding accounts
receivable under the factoring agreement
in the amount of million (the
“Relevant Sum”) and the relevant interests.
After considering the Relevant Sum and
previous payments from First Defendant
to the Plaintiff, the outstanding liability
of Shenzhen Sprocomm amounted to
million (which is included in
borrowings in the condensed consolidated
statement of financial position) plus the
relevant interest, legal costs and court fees
of an aggregate of approximately RMB
million (31 December 2019:
million).
During the six months ended 30 June
2020, the legal proceeding is sti l l in
p rogress and the d i rec to rs o f the
Company, with reference to legal opinion
obtained and avai lable informat ion,
additional provision of RMB327,000 was
made and recognised in the administrative
expenses in the consolidated statements
of profit or loss and other comprehensive
income and the other payable in the
consol idated statements of f inancial
position.
As at 30 June 2020, the Group had
provision for litigation of approximately
million (31 December 2019:
million) included in other payables in the
condensed consolidated statement of
financial position.
二零二零年中期業績報告 Sprocomm Intelligence Limited 57
27. LITIGATIONS (CONTINUED)
(i) (continued)
As at 30 June 2020, aggregate bank
balances of approximately RMB1,723,000
in Shenzhen Sprocomm were being frozen
by banks as the respective banks had
received notice from court with regard to
the litigation claim. Such bank balances
were included in restricted deposits in the
condensed consolidated statement of
financial position (note 18).
Subsequent to the end of the reporting
period on 16 July 2020, another bank
account of Shenzhen Sprocomm with bank
balance of approximately RMB134,000
was also frozen by bank for the litigation
claim.
As at the date of this report, the legal
proceeding is still in progress. The Directors
with reference to the legal opinion obtained
and available information, considered that
the provision has adequately covered
the maximum exposure including of total
claims and legal cost of the case.
28. CAPITAL COMMITMENT
During the six months ended 30 June 2020, the
Group had established a company of which the
Group has 25% equity interest and agreed to
inject capital of RMB2,500,000. The amount is
not yet paid as at 30 June 2020 and up to the
date of this interim report.
27. 訴訟（續）
(i) （續）
於二零二零年六月三十日，由
於相關銀行收到法院有關訴訟
索償的通知，因此深圳禾苗合
共約人民幣1,723,000元的銀
行結餘遭銀行凍結。相關銀行
結餘已計入簡明綜合財務狀況
表的受限制存款中（附註18）。
報告期間結束後，於二零二零
年七月十六日，深圳禾苗的另
一銀行賬戶約人民幣134,000
元的銀行結餘亦因訴訟索償被
銀行凍結。
於本報告日期，法律訴訟程序
仍在推進。本公司董事經參考
已獲取之法律意見及可用資料
認為，撥備已足以覆蓋該案件
最高風險（包括總索償及法律
成本）。
28. 資本承諾
截至二零二零年六月三十日止六個
月，本集團成立一間本集團擁有其
25%股權的公司，並同意注資人民
幣2,500,000元。於二零二零年六月
三十日直至本中期報告日期，該款
項尚未支付。
Sprocomm Intelligence Limited Interim Report 202058
OTHER INFORMATION
Directors’ and Chief Executive’s Interests
and Short Positions in Shares, Underlying
Shares and Debentures of the Company or any
Associated Corporation
As at 30 June 2020, interests and short positions of
the Directors and chief executive of the Company in the
shares and underlying shares and debentures of the
Company or any of its associated corporations (within the
meaning of Part XV of the 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 were taken or deemed to have
under such provisions of the SFO) or have been entered
in the register maintained by the Company pursuant to
section 352 of the SFO, or otherwise have been notified
to the Company and the Stock Exchange pursuant to the
Model Code for Securities Transaction By Directors of
Listed Issuers (the “Model Code”) are as follows:
Interest in the Company
Name of Director
Capacity/nature
of interest
Number of
shares/underlying
shares held
Percentage of
shareholding
in the Company
董事姓名 身份╱權益性質
所持股份╱
相關股份數目
於本公司
持股百分比
(Note 1) (Approximate)
（附註1） （概約）
Mr. Li Chengjun (Note 2) Founder of a
discretionary trust
369,967,204 (L) %
李承軍先生（附註2） 全權信託創辦人
Mr. Xiong Bin (Note 3) Founder of a
discretionary trust
305,032,256 (L) %
熊彬先生（附註3） 全權信託創辦人
Mr. Li Hongxing (Note 4) Share option 9,000,000 (L) %
李紅星先生（附註4） 購股權
Mr. Guo Qinglin (Note 5) Share option 3,500,000 (L) %
郭慶林先生（附註5） 購股權
其他資料
董事及最高行政人員於本公司或任何
相聯法團的股份、相關股份及債券之權
益及淡倉
於二零二零年六月三十日，董事及最高行
政人員於本公司或其相聯法團（定義見證
券及期貨條例第XV部）的股份、相關股份
及債券中擁有根據證券及期貨條例第XV
部第7及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
關條文被當作或視為擁有之權益及淡倉）
或根據證券及期貨條例第352條須載入本
公司存置的登記冊的權益及淡倉，或根據
上市發行人董事進行證券交易的標準守則
（「標準守則」）須知會本公司及聯交所的權
益及淡倉如下：
於本公司權益
二零二零年中期業績報告 Sprocomm Intelligence Limited 59
附註：
1. 字母「L」代表於股份中的好倉。
2. 立堅有限公司由李承軍先生為其建立的
家族信託受益人的利益而合法擁有100%
權益。因此，根據證券及期貨條例，李承
軍先生被視為於立堅有限公司所持股份
中擁有權益。
3. 超新有限公司由熊彬先生為其建立的家
族信託受益人的利益而合法擁有100%權
益。因此，根據證券及期貨條例，熊彬先
生被視為於超新有限公司所持股份中擁
有權益。
4. 李紅星先生的個人權益為本公司所授出
購股權所涉的9,000,000股相關股份，詳
情載於下文「購股權計劃」一節。
5. 郭慶林先生的個人權益為本公司所授出
購股權所涉的3,500,000股相關股份，詳
情載於下文「購股權計劃」一節。
除上文所披露者外，於二零二零年六月
三十日，概無本公司董事或最高行政人員
於本公司或任何相聯法團的任何股份、相
關股份及債券中，擁有記入本公司根據證
券及期貨條例第352條須存置的登記冊或
根據證券及期貨條例第XV部或標準守則
須另行知會本公司及聯交所的任何權益或
淡倉。
董事購買股份或債券的安排
除本報告所披露者外，截至二零二零年六
月三十日止六個月任何時間，概無向本公
司任何董事或彼等各自之配偶或未成年子
女授出任何可藉收購本公司股份或債券而
獲得利益之權利，彼等亦無行使任何該等
權利，且本公司、其控股公司或其任何附
屬公司概無訂立任何安排，致使本公司董
事可藉收購本公司或任何其他法團股份或
債務證券（包括債券）而獲得利益。
Notes:
1. The letter “L” denotes long position of the shares.
2. Leap Elite Limited is legally owned as to 100% by Mr. Li
Chengjun for the benefit of the beneficiaries of the family
trust found by himself. Accordingly, Mr. Li Chengjun is
deemed to be interested in the shares held by Leap Elite
Limited pursuant to the SFO.
3. Beyond Innovation Limited is legally owned as to 100%
by Mr. Xiong Bin for the benefit of the beneficiaries of the
family trust found by himself. Accordingly, Mr. Xiong Bin
is deemed to be interested in the shares held by Beyond
Innovation Limited pursuant to the SFO.
4. The personal interest of Mr. Li Hongxing represents the
interest in 9,000,000 underlying shares in respect of the
share options granted by the Company, the details of
which are stated in the section headed “Share option
scheme” below.
5. The personal interest of Mr. Guo Qinglin represents the
interest in 3,500,000 underlying shares in respect of the
share options granted by the Company, the details of
which are stated in the section headed “Share option
scheme” below.
Save as disclosed above, none of the Directors or chief
executive of the Company had registered any interests
or short positions in any shares and underlying shares
in, and debentures of, the Company or any associated
corporations as at 30 June 2020, as recorded in the
register required to be kept by the Company pursuant to
Section 352 of the SFO, or as otherwise notified to the
Company and the Stock Exchange pursuant to Part XV of
the SFO or the Model Code.
Arrangement for Directors to Purchase Shares
or Debentures
Saved as disclosed in this report, at no time during the
six months ended 30 June 2020 were rights to acquire
benefits by means of the acquisition of shares in or
debentures of the Company granted to any Director of the
Company or their respective spouses or minor children,
or were such rights exerci
