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Milestones發 展 里 程1999Announcement of the Establishment of CyberportThe Cyberport project was kicked off after the HKSAR Governmentannounced the provision of essential infrastructure for the establishmentof an organization offering a strategic cluster of information services.宣 布 興 建 數 碼 港2002Arrival of Cyberport’s First TenantsMicrosoft moved into Cyberport in late 2002as one of our first tenants. Mr Tung Chee Hwa,Chief Executive of the HKSAR, met with MrMark Phibbs, Managing Director of MicrosoftHong Kong, prior to the tenancy agreementsigning ceremony and welcomed the company’smove. The company has resided at Cyberportsince then.首 批 數 碼 港 租 戶 進 駐2002(Mark Phibbs)2001-03Completion of Cyberport 1 & 2The Opening Ceremony on 27 June 2003 was officiated by Mr JackSo, Deputy Chairman and Group Managing Director of PCCW; MrHenry Tang, Secretary for Commerce, Industry and Technology; andMr John Strickland, Chairman of Cyberport.數 碼 港 一 期 及 二 期 落 成2003 6272Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

2004Completion of Cyberport 4The entire Cyberport commercial portion wascompleted in mid-2004 with the end of constructionon the last office building, Cyberport 4.數 碼 港 第 四 期 落 成2004 2004Photo taken by Wen Wei Po相 片 由 文 匯 報 拍 攝Opening of the Digital Media Centre(Now the Technology Centre)The Centre provides cutting-edge industry tools, knowledge andsupport to content developers and multimedia professionals.數 碼 媒 體 中 心 ( 現 為 科 技 中 心 ) 開 幕2004Opening of Le Méridien CyberportOpened 20 April 2004, the hotel was built to offer Cyberport guests unparalleledhigh-tech services and 5-star hospitality.數 碼 港 艾 美 酒 店 開 幕2004420Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報3

Providing a self-sufficient community for iCt companies我 們 為 iCt 公 司 提 供 設 施 完 備 的 社 區 …• Four Grade-A intelligent buildings with 100,000 m 2 of office space• One 27,000 m 2 retail complex and one 170-room hotel• 10• 2.7170 What you should knowabout Cyberport齊 來 認 識 數 碼 港Breeding the next generation of iCt entrepreneurs我 們 致 力 培 育 新 一 代 iCt 企 業 家 …• HK$3.4 million to 34 microfunded projects since 2009, stimulating 431 ideas• Incubated 156 companies since 2005 with 103 intellectual properties, 83 awardsand HK$40 million investment funds granted• 200934340 431 • 2005156103834,000Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報9

Corporate Profile公 司 背 景ABOUT CYBERPORTCyberport is a creative digital communitywith a cluster of technology and digitalcontent tenants. It is managed by HongKong Cyberport Management CompanyLimited which is wholly owned by theHong Kong SAR Government.With a vision to establish itself as aleading information and communicationstechnology (ICT) hub in the Asia-Pacificregion, Cyberport is committed tofacilitating the local economy by nurturingICT industry start-ups and entrepreneurs,driving collaboration to pool resourcesand create business opportunities, andaccelerating ICT adoption through strategicinitiatives and partnerships.Equipped with an array of state-of-the-artICT facilities and a cutting-edge broadbandnetwork, the Cyberport community ishome to four grade-A intelligent officebuildings, a five-star design hotel, and aretail entertainment complex.關 於 數 碼 港 10Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Chairman’s Statement主 席 的 話Welcome to the first Annual Report of Hong Kong CyberportManagement Company Limited (Cyberport). We are pleasedto take this opportunity to share with our stakeholdersCyberport’s mission, vision and achievements to date. HongKong is the perfect platform for developing the future ofinformation and communications technologies (ICT) thatincrease the region’s competitiveness and efficiency. Cyberportis proud to contribute to this dynamic sector by laying thefoundation to make IT legends come true.I would like to thank our previous Chairman Mr John Strickland,our former CEO Mr Nicholas Yang, our recently retired boardmembers Mr Anthony Au, Mr Rock Chen, Mr KO Chia, MrPeter Liu, Ms Winnie Ng and Mr Stanley Ying for their effortsand leadership, particularly in preparing a strong foundation forCyberport’s future growth during its earliest years. This includesoverseeing the initial construction of its campus and laterdevelopment, ensuring a good mix of tenants, and bringingtogether a competent team to manage the overall project.Building upon its promising beginnings, Cyberport is now keento focus on its public mission. In order to make Hong Kong aleading digital city, the government introduced the Digital 21Strategy for the continued success of local ICT development.By harnessing the region’s technological strengths, the strategyhopes to advance the industry’s achievements and seize newopportunities for growth. Based on the framework laid downby the Digital 21 Strategy, Cyberport’s Board of Directorsheld a workshop in 2010 to revisit our mission and vision, andto develop strategies going forward. In December of the sameyear, we announced a HK$100 million investment in ICT forthe next three years, reinforcing our great commitment to theHong Kong ICT sector, alongside our dedication towards itsdevelopment by providing vital resources.Our organization-wide vision has clearly affirmed thatCyberport was established to create a leading ICT hubin the Asia-Pacific region. To this end, Cyberport iscommitted to facilitating the economy with our threefocuses, by fostering local start-ups and entrepreneurs,driving collaboration through better utilization ofresources, and accelerating ICT adoption via strategicinitiatives and partnerships.To realize our vision of becoming an ICT hub in the Asia-Pacificregion, Cyberport established five interdependent centresin September 2010, including Entrepreneurship Centre,Collaboration Centre, Knowledge Centre, Technology Centreand Campus Development Centre, each of which advancesour development in a specific area and helps us carry out ourthree focuses.()(ICT)ICTICT 數 碼21ICT 數 碼21201012ICT數 碼 港 清 晰 地 訂 定 其 願 景 為 成 為 亞 太 區iCt 業 界 的 領 先 樞 紐 。 為 此 , 我 們 定 立 了三 個 主 要 發 展 重 點 , 包 括 培 育 本 地 起 步 企業 及 企 業 家 , 推 動 協 作 以 集 中 資 源 及 締 造商 機 , 以 及 推 行 策 略 性 發 展 計 劃 和 合 作 以促 進 iCt 普 及 化 , 藉 此 推 動 本 地 經 濟 發 展 。2010912Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Our organization-wide vision has clearlyaffirmed that Cyberport was establishedto create a leading ICT hub in the Asia-Pacific region. To this end, Cyberport iscommitted to facilitating the economywith our three focuses, by fostering localstart-ups and entrepreneurs, drivingcollaboration through better utilization ofresources, and accelerating ICT adoptionvia strategic initiatives and partnerships.ICTICTAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報13

Chairman’s Statement 主 席 的 話The Entrepreneurship Centre nurtures new ICT ventures byoffering financial assistance, support and professional servicesthat span the different stages of enterprise development. TheCentre is a breeding-ground for all kinds of creative ideas tocome true via our comprehensive Incubation Programme.To fuel international collaboration and exchange of expertise,the Collaboration Centre helps local ICT entrepreneursbuild networks with their mainland China and overseascounterparts. The Centre opened its Shanghai representativeoffice inside the Knowledge and Innovation Community lastyear to further assist Hong Kong’s entrepreneurs to connectwith potential mainland partners and customers.Driving Hong Kong’s transformation into a digital economy,the Knowledge Centre invests in local talent by buildinggrowth opportunities on the ground. This is done throughorganizing world-class networking platforms and training, aswell as creating more ICT-related positions and supporting itsadoption.By bringing cutting-edge industry tools and knowledge toHong Kong, the Technology Centre diversifies the localindustry with global outlook and insight. The Centre willfurther enhance its role in the adoption of state-of-the-arttechnology in the streams of digital entertainment, socialmedia, cloud computing and mobility solution to better helpHong Kong ICT start-ups capture growing opportunities.All these initiatives are connected by the CampusDevelopment Centre, which oversees the management andmaintenance of the Cyberport Campus, providing state-ofthe-artfacilities and a creative atmosphere for ICT companiesto thrive and grow.Looking to the future, we will strive to continue the hearteningdevelopments of the three-year plan, adding long term valueto the ICT industry, but more importantly, helping nurture,promote and expand tomorrow’s leading ideas today.The year 2012 marks an important milestone for thecompany’s governance. The Board has initiated Cyberportto be designated as a Public Body voluntarily under thePrevention of Bribery Ordinance (POBO). With this newarrangement, we are setting even higher standards for thecompany and its employees. We believe that the new policiesand procedures we have put in place are certain to createimproved value for our stakeholders, from our partners to ourpromising incubatees.企 業 發 展 中 心 ICTICT協 作 中 心 ICT知 識 及 人 才 發 展 中 心 ICTICT科 技 中 心 ICT園 區 創 建 中 心 ICTICT201214Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

An Executive Committee was established in 2003 to overseeour development as an organization. To further strengthenCyberport’s corporate governance, we formed three newcommittees in 2011. Our long-standing Executive Committeeis responsible for monitoring the performance of thecompany, based on our mission and annual budget. TheAudit Committee oversees and reviews the effectiveness ofour financial reporting, internal control and risk management.The Remuneration Committee makes recommendationsto the Board on all matters related to our organizationalstructure and policies on staffing and remuneration.Finally, the Entrepreneurship Centre Committee overseesthe administration and management of the programmesimplemented by the Entrepreneurship Centre.At the beginning of last year, our management team proposedProject 12, to serve as the change agent in order to ensurelegal and regulatory compliance, manage the company’s risksand deliver the new company mission. We have identified 12key areas which need to be addressed in the short-term, bythe end of 2012, in order to ensure that Cyberport is in propershape to move forward and effectively achieve the company’sobjects.This significant evolution will enable us to expand into moreup-and-coming fields within the ICT sector, and build athriving, competitive industry as a whole.In the coming sections of this Annual Report, Mr HermanLam, our CEO, will share the highlights of the encouragingresults we have achieved this year. The seeds we have sownhave borne auspicious fruit, capped by numerous local andinternational accolades, proving that we have in Hong Kongthe ambition, capability and drive to make IT legends happen.Last but not least, I would like to welcome our new membersMs Rosanna Choi, Mr Daniel Lai, Mr Gabriel Pang, Mr DouglasSo, Mr Alfred Wong, Mr Peter Yan and Ms Jeny Yeung to theBoard. Their experiences and ideas will certainly add value tothe discussion. I would also like to take this chance to thankall of our current board members, our management team,various committee members, our tenants, incubatees and theparticipants of our numerous events as well as our partnersand allies. It is their contributions that continue to drive thegrowth of Cyberport, and their dedication to making dreamscome true that inspires us. I strongly believe that we willplay an active role in the development of Hong Kong’s ICTcommunity, centred on the extraordinary creativity of thepeople of Hong Kong.Paul CHOW Man-yiu, GBS, SBS, JPChairman,Hong Kong Cyberport Management Company Limited200320112012 企 劃 122012ICTICTITICT周 文 耀 ,GBSSBSJPAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報15

Chief Executive Officer’s Review行 政 總 裁 報 告The Cyberport community representsa thriving gathering of dynamic andcreative ICT talents, and together, webuild on each other’s strengths to createHong Kong’s IT legends.ICTIT16Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

The Cyberport community represents a thriving gatheringof dynamic and creative ICT talents, and together, we buildon each other’s strengths to create Hong Kong’s IT legends.As of March 2012, the 113 companies based at Cyberportrepresent a great variety of enterprises from internationallyrenowned companies to home-grown SMEs, with over 5,000people employed at the Cyberport campus in Hong Kong. OurEntrepreneurship Centre has supported 156 start-ups throughthe Incubation Programme and 34 ICT projects through theCyberport Creative Micro Fund (CCMF). Last year, Cyberporthosted a total of 72 knowledge-sharing and ICT-relatedconferences and events, which attracted over 15,800 industryprofessionals and experts.Each of our five centres plays a unique role in ensuringthis collaborative success, while systematically working intandem as an effective management team. This year, ourEntrepreneurship Centre continued to administer theCCMF, which sparks creativity and innovation in the ICTindustry by providing seed funding for concept and prototypedevelopment. As of March 2012, a total of HK$3.4 millionin funding has been granted to 34 unique projects thatdemonstrated high potential for growth. Through the fund,Cyberport also initiated the pioneering Hong Kong-ShenzhenCyberport Creative Micro Fund Young EntrepreneurProgramme (HK-SZ CCMF-YEP) to provide a platform forHong Kong students to gain mainland experience early in theirentrepreneurship journey.On the topic of nurturing up-and-coming talent, our IncubationProgrammes continue to bear promising fruit. As of March2012, Cyberport’s incubated companies have been granteda total of 103 intellectual properties. Together, they havegarnered 83 local and international awards – earning welldeservedrecognition for their efforts. All of this points toeven more encouraging successes for these start-ups as theymove forward. The achievements gained thus far are only thebeginning for these future IT legends. These entrepreneurswill continue to grow and will become great role models andresources for the coming generations of entrepreneurs.ICTIT201231135,00015634ICT72ICT1.58 企 業 發展 中 心 數 碼 港 創 意 微 型 基 金 (CCMF) 2012334340CCMF 數 碼 港 創 意 微 型 基 金 •深 港 青 年 創 業 計 劃 數 碼 港 培 育 計劃 2012310383 ICTAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報17

CHIEF EXECUTIVE OFFICER’S REVIEW 行 政 總 裁 報 告This year also marks a series of firsts for Cyberport. Our newCollaboration Centre began operations in April 2011, pavingthe way to increase networking opportunities with overseas ICTfirms. Their global insight and expertise are sure to boost ourcompanies’ exposure and experience. In April 2011, we built apartnership with the Shanghai Knowledge and InnovationCommunity (KIC), and in August 2011, we set up ourfirst representative office in Shanghai and organized an ICTdelegation to visit Canada. These new links form vital steppingstones onto the international and mainland Chinese markets forour ICT entrepreneurs. In Hong Kong, we will also continue towork closely with our counterparts, including government andsemi-government bodies such as Create Hong Kong, Innovationand Technology Commission, Invest Hong Kong, Hong KongApplied Science and Technology Research Institute, Hong KongProductivity Council, Hong Kong Science and Technology Parks,Hong Kong Trade Development Council, and the Office of theGovernment Chief Information Officer, as well as numerous ICTassociations and universities, to better position Hong Kong as aleading ICT hub.Another highlight was the launch of the Hong Kong-ShanghaiICT Internship Programme in June 2011. This first attemptby the Knowledge Centre showcases our dedication tonurturing ICT talents at their earliest stage, by offering universitystudents in Hong Kong the opportunity to gain work experiencein multi-national corporations such as EMC, IBM and Microsoftin Shanghai. In addition to the internship programme, theCentre continued to actively organize and support regionalICT conferences and events. These efforts have helpedto make Cyberport a leading destination for top events in theICT industry, and renowned ICT organizations are increasinglychoosing Cyberport to stage their prestigious annual events.Some prominent examples include the Hong Kong Associationfor Computer Education’s IT Challenge Award cum Young ITAmbassador Award 2010-2011 Prize Presentation Ceremony,Hong Kong Computer Society’s Networking Reception: ADialogue with Three Distinguished CIOs in Hong Kong, InternetSociety Hong Kong’s IPv6-related conferences and training,Hong Kong Internet Registration Corporation Limited’s “2011Digital Marketplace — Use of Internet to Hedge againstInflation” Conference, Hong Kong ICT Awards Judging Sessions,the Hong Kong Council of Social Service’s ITRC Forum 2011,Cyberport SIGGRAPH Asia 2011 Networking Reception andthe Radio Television Hong Kong’s Robocon 2011 Hong KongContest. We also organized community visits to educatethe general public about the latest innovations in IT, laying thegroundwork for expanding industry opportunities. 協 作 中 心 20114ICTICT20114 上 海 創 智 天 地 8ICTICTICT知 識 及 人 才 發 展 中 心 20116 滬 港 資 訊 及 通 訊 科 技 短 期 實 習 計 劃 ICTEMCIBM 地 區 性 iCt 會 議和 活 動 2010-2011 CIO2011—IPv6ITRC2011–SIGGRAPH2011 社 區 參 觀 活 動 IT18Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Taking these knowledge-sharing initiatives further, ourTechnology Centre connects the latest ICT tools with our dailylives, demonstrating their benefits in tangible yet imaginativeways. A recent example was the first screening in Asia of theWimbledon games in 3D via the Digital Cinema Exchangeplatform, bringing a popular sport to digital life. The Centre hasalso made a number of advances in Digital Content Transfer,Stereoscopic 3D, Cloud Computing, Social Media andMobile Applications, which we will discuss in detail in laterchapters.Here at Cyberport, we are grateful for these exciting newdirections, buoyed by the strategic support and state-of-theartfacilities available on our campus. Over the past year, theCampus Development Centre has played a key role inbacking our unique mix of tenants, while the Smart-Space @Cyberport programme has attracted potential ICT companiesand start-ups from all around the world to begin their journeyof success. 科 技 中 心 ICT3D 數 碼 內 容 傳 輸 立 體3D 技 術 雲 端 運 算 社 交 媒 體 流 動 應用 程 式 園 區 創 建 中 心 數 碼 港 smart-spaceICTAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報19

CHIEF EXECUTIVE OFFICER’S REVIEW 行 政 總 裁 報 告We have closely collaborated with our tenants onnumerous projects which not only benefited Cyberport butalso brought tenants together as part of the Cyberport family.For instance, we were assisted in developing the Cyberportwebsite, one of the first barrier-free and W3C-AA compliantwebsites in Hong Kong, by our tenant Access Testing.Another tenant, Better Generation, developed the 10 PowerPredictors installed around the campus to collect wind andsolar data to enable us to assess the feasibility of using morerenewable energy options as we continue to seek to improveour Carbon Footprint. In addition, the LEAD@CyberportCreative Summer Programme, featuring a range of creativeactivities in Cyberport for both children and parents, wasa collaboration between Hong Kong Federation of YouthGroups Jockey Club LEAD Centre and Cyberport.As our Chairman has pointed out, our priority now is to improvethe efficiency of our operation while ensuring compliance in theface of our recent transformation. In response to this need, ourmanagement put forward a “Project 12”, proposing 12 projectsto address the more pressing issues by the end of 2012. Theseprojects include: Documented Management System, FinanceSystem Upgrade, Human Resources System Upgrade, FacilitiesManagement System Upgrade, Customer Records ManagementSystem, Enhance Internal Audit, Enhance Our People, EnhanceCompliance, Enhance Corporate Secretary Function, WebsiteRevamp, Office Renovation and issuing our first Annual Report.With the Project 12, we aim to establish a more stable platformto deliver our public mission initiatives by improving our workinglife and ability to deliver our missions with good corporategovernance.For the 2011/ 12 financial year, our total revenue amountedto HK$414.7 million, representing an increase ofabout 4.3% over that of 2010/ 11. Operating profit beforedepreciation and tax was HK$76.2 million in 2011/ 12,representing a slight drop of 5.4% over that of 2010/ 11because of an increase in expenditure on delivering publicmission activities during the year. Excluding Cyberport’scontribution to public mission activities, operating profit beforedepreciation and tax grew 5.9%, to HK$103.4 million. 積 極 鼓 勵 租 戶 之 間 的 通 力 合 作 AccessTestingW3C-AA10Better Generation (Power Predictor) (LEADCentre)LEAD@2012 企 劃 1220122012 加 強 企 業 管 治 2011/ 12 總 收 入 為4.147 億 港 元 2010/ 11 上 升 約4.3%2011/ 127,6202010/ 115.4% 上 升 5.9% 達 1.034 億 港 元 20Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Cyberport’s contribution to public mission activities includingin-kind sponsorship in 2011/ 12 was HK$34 million, comparedwith HK$23.9 million in 2010/ 11.Looking ahead, Cyberport has identified four upcoming fieldswithin the ICT arena that show immense potential for furtherbusiness development - Digital Entertainment, SocialMedia, Cloud Computing and Mobility Solution. Wehave based our three-year plan on these key areas to investresources in nurturing new talent, industry collaborationand the accelerated adoption of related information andcommunication technologies.As an active member of the digital creative industry, we willcontinue to strive not only to enhance Hong Kong’s statusas a hub for ICT in the Asia-Pacific region, but also as aresponsible contributor to society. We are committedto enhancing environmental protection and sustainabledevelopment, caring for the communities we work in andinvesting in our staff’s on-going development.Our management team owes a debt of thanks to our tenants,the Board, our partners and allies, as well as to the entire stafffor their continuous support and commitment over the pastyear. I look forward to an even more successful year of 2012/2013.2011/123,4002010/112,390ICT 數 碼 娛樂 社 交 媒 體 雲 端 運 算 流 動 應 用 程式 推 動 香 港 成 為 亞 太 區 iCt 業 界 領 先樞 紐 履 行 社 會 責 任 2012/ 2013Herman LAM Heung-yeungChief Executive Officer,Hong Kong Cyberport Management Company Limited林 向 陽Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報21

Board of Directors董 事 局371381091Chairman :1 Paul CHOW Man Yiu, GBS, SBS, JP周 文 耀 GBSSBSJPBoard Members :2 Rosanna CHOI Yi Tak蔡 懿 德3 George HONGCHOY Kwok Lung王 國 龍4 Herman HU Shao Ming, BBS, JP胡 曉 明 BBSJP5 Daniel LAI, BBS, JP賴 錫 璋 BBSJP22Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

5 2 4 6 11 126 LEE Shing See, GBS, OBE, JP李 承 仕 GBSOBEJP7 Gabriel PANG Tsz Kit彭 子 傑8 Douglas SO Cheung Tak蘇 彰 德9 Elizabeth TSE Man Yee, JP謝 曼 怡 JP10 Alfred WONG Kwok Kuen黃 國 權11 WONG Sau Ying黃 秀 英12 Peter YAN King Shun任 景 信13 Jeny YEUNG Mei Chun楊 美 珍Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報23

Board of Directors 董 事 局CHAIRMANPaul CHOW Man Yiu, GBS, SBS, JPChairman of Hong Kong Cyberport ManagementCompany LimitedMr Paul Chow retired as the Chief Executive and directorof Hong Kong Exchanges and Clearing Limited in January2010. Prior to this, he was the Chief Executive, Asia Pacific(ex-Japan) Region, of HSBC Asset Management (Hong Kong)Limited from April 1997 to April 2003.Mr Chow is currently an independent non-executive directorof the Bank of China Limited, a member of the Council andthe Court of the University of Hong Kong and its Treasurer, amember of the Court of the Hong Kong University of Scienceand Technology, a member of the Steering Committee onInnovation and Technology of the HKSAR Government, amember of the Hong Kong-Taiwan Business CooperationCommittee of the HKSAR Government, a member of the AsianAdvisory Committee of AustralianSuper Pty. Ltd. and Chairmanof a charitable organization, Plan International Hong Kong.主 席周 文 耀 ,GBSSBSJP香 港 數 碼 港 管 理 有 限 公 司 董 事 局 主 席201011997420034-AustralianSuper Pty. LtdBOARD MEMBERSRosanna CHOI Yi Tak (Appointed on 5 June 2012)Partner of CWCCMiss Rosanna Choi, the Past Chairman of ACCA Hong Kong,has been serving the global body for professional accountantsas a Hong Kong Committee member since 2002. She iscurrently a member of the ACCA (Global) Council and theVice-chairperson of its Resource Oversight Committee.Miss Choi is a CWCC CPA partner and audit specialist,leading one of the audit teams. She chairs the firm’s TrainingCommittee and IT Committee, enhancing staff skills andproductivity, and the effective use of information technology.She is also an executive committee member of Social VentureHong Kong, a council member of Hong Kong BaptistUniversity, a court member of the City University of HongKong, and an audit committee member of the Urban RenewalAuthority.董 事 局 成 員蔡 懿 德 (20126 5)陳 黃 鍾 蔡 會 計 師 事 務 所 合 夥 人 ACCA2002ACCAACCA24Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

George HONGCHOY Kwok LungExecutive Director and Chief Executive Officer of TheLink Management LimitedMr George Hongchoy is Executive Director and Chief ExecutiveOfficer of The Link Management Limited, with experience ininvestment banking, financial consulting and accounting inAsia and New Zealand. Mr Hongchoy is a director of HongKong Applied Science and Technology Research InstituteCompany Limited, Asia Pacific Real Estate Association Limitedand the Chairman of its Hong Kong Chapter Board. He isalso a member of the Asia Executive Board of The WhartonSchool, the Faculty Advisory Committee of Faculty of Businessat The Hong Kong Polytechnic University and Governor of theCanadian International School.王 國 龍領 匯 管 理 有 限 公 司 執 行 董 事 及 行 政 總 裁Herman HU Shao Ming, BBS, JPChairman of Ryoden Development LimitedMr Herman Hu is the Chairman of Ryoden DevelopmentLimited. He serves as a Standing Committee Member of theChinese People’s Political Consultative Conference, Shanghai.Apart from this, he is a member of the Hong Kong SportsCommission, Council on Human Reproductive Technologyand as an Independent Non-Executive Director of i-CABLECommunications Limited.胡 曉 明 ,BBSJP菱 電 發 展 有 限 公 司 主 席Daniel LAI, BBS, JP (Appointed on 25 July 2012)Government Chief Information OfficerMr Daniel Lai is a veteran ICT professional in Hong Kong withextensive experience in the IT field. He joined the HKSARGovernment as Government Chief Information Officer inJanuary 2012.Mr Lai served in Hong Kong Electric Company Limited between1968 and 1978. From 1978 to 1998, he worked for the HongKong Jockey Club (the former Royal Hong Kong Jockey Club)and held various senior IT managerial positions in Hong Kongand Australia. Between 1999 to 2011, Mr Lai worked as theHead of Information Technology in MTR Corporation Limited.He served on the Board of Hong Kong Cyberport ManagementCompany Limited from 2003 to 2009.賴 錫 璋 ,BBSJP2012725政 府 資 訊 科 技 總 監20121 1968 1978 197819981999201120032009Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報25

Board of Directors 董 事 局LEE Shing See, GBS, OBE, JPMr Lee Shing See is a fellow of both the Hong Kong Institutionof Engineers and the Institution of Civil Engineers (UK), as wellas a former Secretary for Works of the HKSAR Government.He is the Chairman of the Construction Industry Council, aBoard member of the Hong Kong Airport Authority, a memberof the Environmental Impact Assessment Appeal Panel, amember of the Development Committee of the West KowloonCultural District Authority and the Convenor of the Panel onPromoting Testing and Certification Services in ConstructionMaterials Trade.Gabriel PANG Tsz Kit (Appointed on 5 June 2012)Chief Operating Officer of Firedog Studio CompanyLimitedMr Gabriel Pang is currently the Chief Operating Officerof Firedog Studio Company Limited and has more than 16years of experience in IT and Creative industries in HongKong. Mr Pang is one of the pioneers in Hong Kong’s gamedevelopment field, and founded the famous game company“Firedog Studio” in 1999. He has been the chairman of HongKong Digital Entertainment Association since 2008, and puts alot of efforts in promoting Hong Kong’s digital entertainmentindustry.Douglas SO Cheung Tak (Appointed on 5 June 2011)Executive Director, Charities/ General Counsel of TheHong Kong Jockey ClubMr Douglas So is a solicitor of Hong Kong. He joined TheHong Kong Jockey Club in 2000 and currently serves asits Executive Director of Charities, General Counsel andCompany Secretary.Mr So is a Council member of the Hong Kong Committee forUNICEF; a member of the Board of Trustees of the Hong KongJockey Club Music and Dance Fund, a director of Chun TokSchool and an adviser of Foodlink.Mr So is also a member of the Community Care Fund (Welfare)Committee, the Committee on Research and Development ofChinese Medicines, the Selection Committee of Innovation andTechnology Scholarship Award Scheme, the EXCEL3 AdvisoryCommittee of the University of Hong Kong, the SteeringCommittee of CUHK Jockey Club Initiative Gaia and theManagement Committee of the Jockey Club Design Institutefor Social Innovation of the Hong Kong Polytechnic University.李 承 仕 ,GBSOBEJP彭 子 傑 (20126 5)火 狗 工 房 股 份 有 限 公 司 營 運 長1619992008蘇 彰 德 201165香 港 賽 馬 會 慈 善 事 務 執 行 總 監 / 首 席 法 律顧 問2000 /26Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Elizabeth TSE Man Yee, JPPermanent Secretary for Financial Services and theTreasury (Treasury)Miss Elizabeth Tse was Deputy Secretary for the Treasury(later renamed Deputy Secretary for Financial Services and theTreasury (Treasury)) from July 1999 to April 2006, Director ofAdministration from April 2006 to October 2007, PermanentSecretary of the Chief Executive’s Office from October 2007to April 2010 and Permanent Secretary for Commerce andEconomic Development (Communications and Technology)from 26 April 2010 to 24 July 2012. She has taken up theappointment of Permanent Secretary for Financial Services andthe Treasury (Treasury) since 25 July 2012.Alfred WONG Kwok Kuen (Appointed on 1 March 2012)Mr Alfred Wong was the Chief Technology Officer and Headof Information Technology Division of Hong Kong Exchangesand Clearing Limited (HKEx) since April 2004 until he retiredin September 2010. Earlier in his career, Mr Wong had heldseveral other senior IT positions at the HKEx and the StockExchange of Hong Kong since rejoining the Stock Exchange ofHong Kong in November 1992. Mr Wong was a project leaderat the Australian Stock Exchange and a consultant applicationengineer at Australia’s Westpac Banking Corporation between1987 and 1992.WONG Sau YingHead of Corporate Communications of the Hong Kong &China Gas Company LimitedMiss Wong Sau Ying’s extensive experience as a social worker,journalist and corporate communication professional isreflected in the variety of public and committee boards sheserves. Alongside a media career that has spanned major localand foreign news agencies, Miss Wong was a board memberof the Broadcasting Authority from September 2007 to March2012 and is currently a member of Environmental CampaignCommittee.She is currently Head of Corporate Communications with theHong Kong and China Gas Company Limited.謝 曼 怡 ,JP財 經 事 務 及 庫 務 局 常 任 秘 書 長 ( 庫 務 )199972006 4 20064 200710 20071020104201042620127242012725黃 國 權 201231200442010919871992(Westpac Banking Corporation) 199211黃 秀 英香 港 中 華 煤 氣 有 限 公 司 企 業 傳 訊 總 監2007920123Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報27

Board of Directors 董 事 局Peter YAN King Shun (Appointed on 5 June 2011)Executive Director and Chief Executive Officer ofComputer and Technologies Holdings LimitedMr Peter Yan is the Executive Director and Chief ExecutiveOfficer of Computer and Technologies Holdings Limited,where he is responsible for the group’s overall businessoperations covering Hong Kong and the mainland China.With extensive experience serving on a range of public servicescommittees, including the Transport Advisory Committeeand the Solicitors Disciplinary Tribunal Panel, Mr Yan is alsoa member of the Scholarship Vetting Committee of HarvardBusiness School Andy Choa Scholarship, the AdvisoryCommittee for the Master of Science in Information andTechnology Management at The Chinese University of HongKong and a life-time Fellow and Vice President of the HongKong Computer Society.Jeny YEUNG Mei Chun (Appointed on 5 June 2012)Commercial Director of the MTR Corporation LimitedMiss Jeny Yeung is the Commercial Director and a Member ofthe Executive Directorate of MTR Corporation Limited. MissYeung is a fellow of the Chartered Institute of Marketing. Sheis also a member of the Marketing Management Committeeof The Hong Kong Management Association, the AdvisoryCommittee on Publicity and Public Education in Innovation andTechnology of the Innovation and Technology Commissionof the HKSAR, and the Infrastructure Development AdvisoryCommittee of Hong Kong Trade Development Council.任 景 信 201165科 聯 系 統 集 團 有 限 公 司 執 行 董 事 及行 政 總 裁Andy Choa楊 美 珍 201265香 港 鐵 路 有 限 公 司 商 務 總 監28Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

RETIRED/ RESIGNED DIRECTORSAnthony AU Wai Hung, BBS (Retired on 4 June 2012)Director of Futuresuccess Consultants LimitedMr Anthony Au has long been recognized as one of HongKong’s leading authorities on information technology and wasawarded The Bronze Bauhinia Star by the HKSAR Governmentin 2000 for his notable contribution to the advancement ofHong Kong as a leading IT city.Mr Au graduated from Rochester Institute of Technology. Heworked for Xerox, National Semiconductor, PATEL and othertechnology companies before starting his software companyABC Data & Telecom Limited in 1978. Mr Au sold his businessin 1999 to focus on his new work in futurology. He is theRepresentative of World Future Society in Hong Kong and theRegional Editor of Futuretakes. Mr Au also serves as a directorof Hong Kong Applied Science and Technology ResearchInstitute Company Limited.Rock CHEN Chung Nin, BBS, JP (Retired on 4 June 2011)Chairman of Pacific Falcon Investment Group LimitedMr Rock Chen is the Chairman of Pacific Falcon InvestmentGroup Limited which is engaged in proprietary assetmanagement, venture and real estate investments. Establishedin 1995, the company maintains a global investment portfoliothat allocates assets among fixed income securities, equities,specialized funds, precious metals and properties.Mr Chen also spends a significant amount of time in publicand community services. In addition to being the incumbentChairman of the Hong Kong Examinations and AssessmentAuthority and Chairman of the Hong Kong Award for YoungPeople, he has served on more than a dozen governmentstatutory and advisory bodies such as the Central Policy Unit,the Town Planning Board, City University of Hong Kong andthe Standing Committee on Company Law Reform, etc. MrChen is a Justice of the Peace since 2007 and was awardedthe Bronze Bauhinia Star by the HKSAR Government for hismeritorious contribution to community services in 2011.In China, he is currently the Vice-chairman of the All-ChinaYouth Federation and a Standing Committee member of theZhejiang Committee of Chinese People’s Political ConsultativeConference.已 退 任 ╱ 辭 任 之 成 員區 煒 洪 ,BBS201264舊 金 山 顧 問 有 限 公 司 董 事2000 XeroxNational SemiconductorPATEL1999ABCFuturetakes 陳 仲 尼 ,BBSJP (201164)金 鷹 控 股 有 限 公 司 主 席1995 20072011Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報29

Winnie J NG (Retired on 4 June 2012)Director of The Kowloon Motor Bus Company (1933)LimitedMiss Winnie Ng is a director of Transport InternationalHoldings Limited and The Kowloon Motor Bus Company(1933) Limited, and is also Founder and Deputy Chairman ofRoadShow Holdings Limited. Miss Ng has received numerousawards and recognition. In 2010, she was named a Womanof Excellence and was also selected as one of 60 MeritoriousChinese Entrepreneurs with Achievement and NationalContribution. She was also the Yazhou Zhoukan YoungChinese Entrepreneur Award recipient in 2003.Active in public service, Miss Ng is a Council member of TheBetter Hong Kong Foundation, Vice Chairman and Director ofFriends of Bauhinia, a Board member of Hospital Authority, aBoard member of Hong Kong Tourism Board, a Board memberof Employees Retraining Board and a Council member ofVocational Training Council.伍 穎 梅 (201264)九 龍 巴 士 ( 一 九 三 三 ) 有 限 公 司 董 事()2010602003Miss Ng holds an MBA degree from the University of Chicagoand an MPA degree from Harvard University.Stanley YING Yiu Hong, JP (Resigned on 24 July 2012)Mr Stanley Ying has joined the Administrative Service of theGovernment of the Hong Kong since 1983 and has servedin various bureaus and departments. He was PermanentSecretary for Financial Services and the Treasury (Treasury)from November 2007 to July 2012.應 耀 康 ,JP (2012724)198320071120127()Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報31

Our Management Team我 們 的 管 理 團 隊24 6 8 10315 7 91 Herman LAM 林 向 陽2 Joyce CHENG 鄭 可 宜3 Raymond HO 何 禮 文4 Chris HUI 許 永 誠5 David CHUNG 鍾 偉 強6 Andy HO 何 耀 明7 Cavan CHEUNG 張 秀 成8 Winnie WONG 黃 碧 娥9 Mark O.CLIFT 麥 傑 夫10 Gerhard AICHER 魏 嘉 興32Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

ExecutiveCommittee 行 會AuditCommittee 會BOARD OF DIRECTORS董 事 局RemunerationCommittee 會EntrepreneurshipCentreCommittee企 業 發 展 中 心 會Chief Executive OfficerHerman LAM Head ofMarketingWinnie WONGChief FinancialOfficer andCompany SecretaryCavan CHEUNGChief Operating OfficerMark O. CLIFTCampusDevelopmentCentreHead of HR& Admin.Joyce CHENGChiefTechnologyOfficerDavid CHUNGHead ofLeasing & SalesChris HUIHead ofCampusManagementRaymond HOHead ofTechnicalServicesAndy HOGeneralManagerLe MéridienCyberportGerhard AICHERKnowledgeCentreEntrepreneurshipCentreCollaborationCentreTechnologyCentreAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報33

2011/ 12 Events and Activities Highlights2011/ 12 重 點 活 動 回 顧20114World Summit Award GrandJury and ConferenceAt the World Summit Award Grand Jury andConference, international IT experts werebrought together to select the best e-contentand ICT applications submitted from over105 countries.世 界 信 息 峰 會 大 獎 2011— 香 港IT105 ICT20116Signed Memorandum ofUnderstanding with ChinaCloud TechCyberport CEO Mr Herman Lamand Dr Zhang Fubo, CTO of ChinaCloud Tech, signed a Memorandumof Understanding to promote theadvancement of cloud computing andcollaboration between Hong Kongand Mainland China.與 China Cloud tech 簽 署合 作 備 忘 錄ChinaCloud Tech34Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司20114Fly High with Cyberport: FromNurturing to Collaboration CeremonyEight growth-stage companies graduated fromthe Cyberport IncuTrain Programme and five startupsreceived seed funding of HK$100,000 eachfrom the second Cyberport Creative Micro Fund(CCMF) Pilot Scheme. The event was well-attendedby prominent leaders in the ICT industry andgovernment of the HKSAR.「 從 培 育 至 協 作 - 數 碼 港 讓 夢 想 飛 翔 」活 動 典 禮(CCMF) ICT

20116-8Hong Kong-Shanghai ICTInternship Programme 2011Students participating in the Programmegathered at a sharing session to share theirrewarding work experience in Shanghai.滬 港 資 訊 及 通 訊 科 技短 期 實 習 計 劃 201120117The Hong Kong Save theSharks CampaignAt Cyberport, “1,000 Kids One Message”featured a thousand children pledging topromote global marine conservation andabstain from eating shark fins.保 護 鯊 魚 運 動20116-12The First Hong Kong Stereoscopic 3DCompetitionThe competition was organized by Cyberport toencourage local production of high quality S3Dcontent, and promote Hong Kong as a leadingdigital entertainment hub.全 港 首 屆 立 體 3D 創 作 比 賽3D3DAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報35

2011/ 12 Events and Activities Highlights 2011/ 12 重 點 活 動 回 顧20117-8Summer Visits toCyberport for StudentsStudent groups attended funtechnology-based summer camps atCyberport and enjoyed themselvesthoroughly.數 碼 港 接 待 學 生 夏 令 營20118“Cyberport Speaker Series — The Birthof A New Medium in Hong Kong:Digital Audio Broadcasting” SeminarMr Mark O. Clift, COO of Cyberport, deliveredopening remarks at this seminar covering thelatest developments, challenges and opportunitiesin DAB technology, and future market trends inthe audio broadcasting marketplace.數 碼 港 講 座 系 列 「 香 港 新 媒 體 的 誕 生 : 數 碼聲 音 廣 播 」 研 討 會20118HK ICT Delegation toCanadaCyberport’s delegation to Canada soughtto explore technical exchanges andcollaborative opportunities with Canada’sICT industry. The delegation also visitedSIGGRAPH 2011 and a number of ICTcompanies in Vancouver and Alberta.香 港 iCt 代 表 團 到 訪 加 拿 大ICT 2011 (SIGGRAPH 2011)ICT36Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

20119“Looking for an Angel”SeminarOrganized by the Entrepreneurship Centre,the seminar invited Mr Raiyo Nariman,Regional Manager Angels Den Hong Kongand Macau, to share tips and advice onseeking funding from an angel investor.201112Cyberport SIGGRAPH AsiaNetworking ReceptionCyberport’s incubatees and participantsin the First Hong Kong Stereoscopic 3DCompetition were among the 1,200attendees of the networking reception,where they rubbed shoulders withsponsors, overseas delegates, conferenceparticipants and digital entertainmentprofessionals from around the world.「looking for an Angel」 研 討 會AngelsDen Raiyo Nariman ICT數 碼 港 – 「 亞 洲 電 腦 圖 像 與 互 動 科技 研 討 會 議 及 展 覽 」 聯 誼 酒 會1,2003D2011-129-3Weekend MarketFamilies and kids enjoyed interactiveart installations, as well as localhandicrafts and foods, at theWeekend Market, held each monthbetween September 2011 and March2012 on the Cyberport Podium.週 末 藝 墟20119 20123 Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報37

2011/ 12 Events and Activities Highlights 2011/ 12 重 點 活 動 回 顧201112Animation CampWinners of the First Hong Kong Stereoscopic3D Competition are shown here atCyberport’s Animation Camp plying theirskills. Participants had the opportunity tolearn from world leaders in 3D animation,including Lucasfilm Singapore, PixarAnimation Studios and Rising Sun Pictures.20123Next Generation InformationTechnology and StandardSymposiumAt the Symposium, industry professionalslearnt the latest cloud solutionsshowcased by more than 30 exhibitors,in addition to insights gained fromdiscussion panels on developments incloud computing, standards and relatedgovernment policies.數 碼 娛 樂 培 訓 營Rising Sun Pictures3D 3D新 一 代 信 息 技 術 及 標 準 論 壇30201232012 HK InfoMatrix &RobotChallengeAt the Hong Kong finals heldat Cyberport, two local districtwinners were testing their selfmaderobot before judging.Winners would go on torepresent Hong Kong and Asia atthe international championship.2012 HK infoMatrix &robotChallenge38Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Corporate Information公 司 資 料AddressHong Kong Cyberport ManagementCompany LimitedUnits 1102-1104, Level 11, Cyberport 2100 Cyberport Road, Hong KongTel: (852) 3166 3800Fax: (852) 3166 3118Email: enquiry@cyberport.hkWebsite: www.cyberport.hk地 址香 港 數 碼 港 管 理 有 限 公 司10021111021104: (852) 3166 3800: (852) 3166 3118: enquiry@cyberport.hkwww.cyberport.hkShanghai Representative OfficeUnit 204B, 2/F, 1 KIC, KIC Plaza, 234 Song Hu Road,Yang Pu District, Shanghai, PRCTel: (86-21) 55122815Fax: (86-21) 55122816上 海 代 表 處2341 204B(86-21) 55122815(86-21) 55122816AuditorPricewaterhouseCoopers核 數 師Principal BankerStandard Chartered Bank (Hong Kong) LimitedHong Kong & Shanghai Banking Corporation LimitedBank of China (Hong Kong) LimitedDBS Bank (Hong Kong) Limited主 要 銀 行()()()SolicitorsMayer Brown JSM律 師COMPANY SECRETARYMr Cavan Cheung公 司 秘 書Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報39

5 Centres’ Highlights我 們 的 五 大 中 心To realise our vision of becoming an ICT hubin the Asia-Pacific region, Cyberport hasestablished five interdependent centres,each of which advances our developmentin a specific area and helps us carry out ourthree focuses: nurture ICT industry start-upsand entrepreneurs to foster local talent; drivecollaboration through better utilisation ofresources to create business opportunities;accelerate ICT adoption through strategicinitiatives and partnerships.為 了 晉 身 亞 太 區 內 首 屈 一 指 的 資 訊及 通 訊 科 技 樞 紐 , 數 碼 港 成 立 了五 個 環 環 緊 扣 的 中 心 。 各 個 中 心 均針 對 特 定 範 疇 , 致 力 促 進 本 地 發展 , 以 實 踐 我 們 的 三 大 使 命 重 點 :培 育 企 業 人 才 、 匯 集 業 界 資 源 以 推動 協 作 與 締 造 商 機 , 以 及 透 過 策 略性 合 作 與 發 展 項 目 推 動 資 訊 科 技普 及 化 。

5 Centres’ Highlights 我 們 的 五 大 中 心42Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

EntrepreneurshipCentre企 業 發 展 中 心Mission• Foster ICT industry development and promote ICTentrepreneurship.• Assist ICT entrepreneurs in the commercialization ofproducts, services and platforms.• Groom and develop local ICT talents as part ofCyberport’s larger mission to promote ICT developmentwithin Hong Kong.使 命• 促 進 ICT 行 業 的 發 展 並 推 廣 ICT 創 業 精神 。• 支 援 ICT 行 業 的 企 業 家 , 帶 領 其 產 品 、服 務 及 平 台 進 軍 商 業 市 場 。• 發 掘 並 培 育 本 地 ICT 行 業 的 人 才 , 推 動本 港 資 訊 及 通 訊 科 技 界 的 發 展 。The mission of Cyperport’s Entrepreneurship Centre is tonurture ICT start-ups through financial assistance, supportand professional services offered during the early stages ofcommercial development. These aims are achieved primarilythrough the Cyberport Creative Micro Fund Scheme and theIncubation Programme.The Entrepreneurship Centre, formerly known as theCyberport Digital Entertainment Incubation-cum-TrainingCentre (IncuTrain Centre), was established in October 2005 tosupport the development of start-ups and SMEs in the digitalentertainment and creative lifestyle industries. Originallysponsored by the Innovation and Technology Fund (ITF), theIncubation Programme has been supported by Cyberportthrough its own funding since February 2012.ICT200510(ITF)20122Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報43

5 Centres’ Highlights 我 們 的 五 大 中 心Entrepreneurship Centre 企 業 發 展 中 心Cyberport Creative Micro FundLaunched in August 2009, the Cyberport Creative MicroFund (CCMF) Scheme promotes innovation within the ICTindustry by providing seed funding of HK$100,000 to coverconcept and prototype development over a 6-month periodto companies spearheading the development of creative ICTrelatedproducts or services. Upon the successful completionof the first pilot scheme launched in 2009, CCMF was officiallylaunched in 2011.As of March 2012, CCMF has granted a total of HK$3.4million to 34 projects which demonstrated potential forfurther development. Some projects supported by CCMF weresubsequently procured by major overseas enterprises. Theseinclude a management system for sports activities, acquiredby a major US manufacturer of sports equipment and apparel,and a website for searching leisure events and activities basedon users’ personal interests and schedules, obtained by amultinational Internet corporation.Some CCMF projects have received international recognition,such as a system to track shipments, which won the 2011Global Startup Battle held by Startup Weekend in US, andan online discussion platform, winner of the Start-Up Chileprogramme held by the Chilean Government. Many CCMFgrantees intend to grow their projects into formal businessesand subsequently joined Cyberport Incubation Programme.數 碼 港 創 意 微 型 基 金 (CCMF) 20098ICTICT 十 萬 港 元 種 籽 基 金 2009201120123CCMF 批 出 340 萬港 元 予 34 個 CCMFCCMF 國 際 間 贏 得 各業 界 嘉 許 Startup Weekend2011 GlobalStartup Battle Start-Up ChileCCMFCCMF Fast Facts (As of March 2012) CCMF 統 計 資 料 ( 截 至 2012 年 3 月 )3.4 million (HK$) granted to 34 projects in total34 個 項 目 合 共 340 萬 港 元431 ideas stimulated431 個 創 意 概 念18 awardees successfully completed their projects (success rate of 95%)18 個 受 資 助 者 成 功 完 成 其 創 意 項 目 95%9 awardees subsequently joined the Cyberport Incubation Programme944Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Hong Kong-Shenzhen CyberportCreative Micro Fund YoungEntrepreneur ProgrammeIn addition to the CCMF Scheme for local talent, a crossborderscheme, the Hong Kong-Shenzhen Cyberport CreativeMicro Fund Young Entrepreneur Programme (HK-SZ CCMF-YEP) launched in May 2011 to promote ICT entrepreneurshipand collaboration among tertiary students in Hong Kong andShenzhen. Students from both cities work together in mixedteams to create innovative projects or business concepts for anaward of HK$100,000.The HK-SZ CCMF-YEP, apart from helping young and creativetalent develop the technical and business skills requiredto capture the soaring potential in the ICT industry today,serves as an excellent platform to drive collaborationbetween Hong Kong and Shenzhen’s future leaders.The programme also provides young entrepreneurs a greatopportunity to learn about cross-border cultures, preparethemselves to enter into the Mainland market, and gainpractical start-up experience.As of March 2012, HK-SZ CCMF-YEP has attracted over 100participants from Hong Kong and mainland China.數 碼 港 創 意 微 型 基 金深 港 青 年 創 業 計 劃CCMF20115ICTICT 為 港 深 未 來 領 袖 提供 一 個 促 進 合 作 交 流 的 優 秀 平 台 20123100The Incubation ProgrammeThrough the Incubation Programme, the EntrepreneurshipCentre supports the development of Hong Kong’s ICTindustry by providing incubatees with access to rent-freeoffice space for up to two years, advanced ICT facilities andresources; support in business development, financing andthe hiring of graduate interns; and mentorship and trainingin entrepreneurship and technology. The programme offersthree types of incubation, on-site, off-site and network,according to the needs of the business requesting incubation.The innovation and creativity of the start-up companies underthe Incubation Programmes will drive new momentum inthe development of Hong Kong’s ICT industry. Thefocus is on assisting creative start-ups, fostering enterprisemanagement skills, building and promoting entrepreneurship,and encouraging development and strengthening industrynetworks both in mainland China and overseas markets.Start-up companies can also expand their business potentialand explore greater opportunities via business partnership andinvestment matching tools that the Programme provides.數 碼 港 培 育 計 劃為 推 動 本 港 iCt 業 界 發 展 ICT 為 本 地 iCt 業 界 注 入 發 展 新動 力 Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報45

5 Centres’ Highlights 我 們 的 五 大 中 心Entrepreneurship Centre 企 業 發 展 中 心As of March 2012, the Incubation Programme has admitted156 ICT start-ups, of which 84 are on-site incubatees, and 72are off-site incubatees. These incubatees have created 689job opportunities, won 83 industry awards, and createdover 100 intellectual properties.As of March 2012, Cyberport’s incubatees received overHK$40 million in angel investment funding.20123156 間 iCt 起 步 企 業 8472 創 造 了 689 個就 業 機 會 83 項 業 界 獎 項 超 過 100 項 知 識 產 權 項 目 201234,000 萬港 元 Incubation Programme Fast Facts (as of March 2012) 數 碼 港 培 育 計 劃 統 計 資 料 ( 截 至 2012 年 3 月 )156 companies admitted156 間 公 司103 Intellectual Properties granted to incubatees103 項 知 識 產 權 項 目83 awards granted to incubatees83 個 獎 項67% sustainability rate 持 續 發 展 比 率 達 67%Cyberport Network IncubationProgrammeIn July 2011, the Board of Cyberport approved a managementproposal to extend the existing Incubation Programme tosupport overseas start-ups with fewer than 50 employeesunder a new category called Network Incubation.This new network category provides financial subsidies sothat overseas start-ups can attend Cyberport organized or coorganizedevents in Hong Kong, and supports their efforts toexplore business networking with Cyberport incubatees and toextend their businesses in the Asian region.數 碼 港 聯 網 培 育 計 劃2011750 海 外 起 步企 業 得 以 參 加 46Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

The network category offers the potential to further enhancethe Incubation Programme to serve both the local and overseasincubatees, extending business networking opportunities andallowing both to further exchange their ideas and exploremarket opportunities.As of March 2012, a total of 11 companies were admitted intothe Network Incubation Programme.2012311Major Events and ActivitiesThe Centre has organized/ co-organized a wide variety ofevents to further its mission of helping businesses in the ICTindustry, network, collaborate to their mutual benefit, andreach out to potential investors.重 點 活 動 回 顧ICTICTStartups ConnectThis monthly networkingevent brings together start-upsand incubatees with industryprofessionals and Cyberport alumnito explore ICT-relevant topics acrossdifferent sectors.數 碼 港 創 業 聚 匯StartupsConnectICTAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報47

5 Centres’ Highlights 我 們 的 五 大 中 心Entrepreneurship Centre 企 業 發 展 中 心Next Generation GameEngine TrainingParticipants interested in cross-platformgame design learned to use the UnrealGame Developer Kit (UDK) and created theirown next-generation game for the iPhone,PC, PS3 and Xbox 360 platforms.次 世 代 遊 戲 引 擎 培 訓 營UDKiPhonePCPS3Xbox360Creative TechnologiesWorkshop by Cyberport andWelTec - “He Mohiotanga -Sharing of Knowledge”The first Creative Technologies Workshopchallenged students to explore sculpturaldesign through digital projections, 2D and 3Danimation, digital graphics, etc., and recreatesculptures for a cultural exchange.數 碼 港 與 紐 西 蘭 威 靈 頓 技 術 學 院合 辦 「 創 意 科 技 工 作 坊 」- [ 博 識 ]2D3D48Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Angels Den -Investment ReadinessBootcampThis bootcamp preparedincubatees and introduced themto special fundraising channelsand events at which they couldmeet angel investors to pitch theirproducts and services.Angels Den -investment readinessBootcampAnimation Camp 2011Local animators and industry professionalsgathered to learn from world leaders in 3Danimation, including Lucasfilm Singapore,Giant Step and Rising Sun Pictures.數 碼 娛 樂 培 訓 營 2011Giant StepRising Sun Pictures3D Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報49

5 Centres’ Highlights 我 們 的 五 大 中 心Entrepreneurship Centre 企 業 發 展 中 心Words from our graduated incubatee畢 業 培 育 公 司 的 話“Cyberport’s Entrepreneurship Centreoffers ICT start-ups with incredible support,from professional services and help withenterprise management and promotion, tobasic financial aid. They definitely live upto their claims in helping ICT entrepreneursdevelop creatively and turn their companiesinto successful commercial enterprises.”「 數 碼 港 企 業 發 展 中 心 除 了 為 ICT 起 步 企 業 提 供 各 類專 業 服 務 , 亦 提 供 企 業 管 理 、 宣 傳 以 至 資 金 援 助 等一 系 列 的 支 援 。 我 認 為 中 心 充 份 發 揮 了 其 扶 持 創 意企 業 家 的 作 用 , 協 助 他 們 把 公 司 發 展 為 成 功 的 商 業機 構 。」Mr Boniface LeeEmagist Entertainment Limited李 紹 賢 先 生Emagist Entertainment Limited50Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

About Emagist Entertainment LimitedOne of Cyberport’s incubated companies in 2009, Emagistgrew from start-up to a company over 50 staff in Hong Kongand South East Asia. The company plans to expand its officesand recruit 200-300 employees to its Hong Kong headquartersand PRC.URL: www.emagist.comMajor achievements:• More than 40 million registered users on Facebook• The flagship game received more than 1 million downloadsfrom iOS and Android platforms and once listed as one ofthe Top 13 Facebook Games關 於 emagist entertainment limitedEmagist200950200-300www.emagist.com取 得 成 果 :• Facebook 4,000 • iOSAndroid 100 Facebook13Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報51

5 Centres’ Highlights 我 們 的 五 大 中 心COLLABORATIONCENTRE協 作 中 心Mission• Facilitate partnerships and alliances between HongKong’s ICT SMEs and global enterprises to achieve mutualsuccess.• Provide business support to ICT SMEs in Hong Kong toenable them to tap into the overseas and mainland Chinamarkets.• Promote the exchange of technology and talent betweenHong Kong and worldwide ICT enterprises to fuel thegrowth of the ICT industry in Hong Kong.• Establish a channel through which overseas and PRCheadquarteredICT enterprises can easily access Cyberportin Hong Kong.使 命• 協 助 本 港 ICT 中 小 企 業 與 全 球 企 業 建 立網 絡 , 促 進 商 業 合 作 聯 盟 , 發 揮 協 同效 應 。• 為 本 港 ICT 中 小 企 業 提 供 業 務 支 援 , 協助 其 開 拓 海 外 及 中 國 內 地 市 場 。• 加 強 本 港 與 世 界 各 地 ICT 人 才 與 技 術 的交 流 , 進 一 步 推 動 本 地 ICT 業 界 的 發 展 。• 透 過 建 立 渠 道 , 協 助 海 外 及 中 國 內 地企 業 於 香 港 數 碼 港 設 立 業 務 據 點 。The Collaboration Centre was established to develop acomprehensive reciprocal network for Hong Kong’s ICT startupsand SMEs, helping them to explore, establish a presencein, and capture emerging business opportunities in HongKong, mainland China and overseas markets. By encouragingbusiness alliances and talent exchanges between the HongKong ICT industry and its overseas and mainland counterparts,the Centre promotes the long-term development of HongKong as a digital economy.ICTICTREPRESENTATIVE OFFICE IN SHANGHAIIn August 2011, Cyberport established a representative officein Shanghai, offering Hong Kong’s ICT SMEs the opportunityto network and explore business opportunities in the Mainlandwith the assistance and expertise of the Centre.上 海 代 表 處20118ICT52Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報53

5 Centres’ Highlights 我 們 的 五 大 中 心Collaboration Centre 協 作 中 心Corporate ServiceThe Centre offers full corporate services to companies who areinterested in establishing a collaborative business relationshipwith our overseas and mainland partners. With priorregistration, corporate service subscribers are entitled to enjoymany benefits, including soft landing and business supportin mainland China, access to the Centre's facilities, businessmatching and networking opportunities, and marketingsupport, as well as financial subsidies on recruiting interns.企 業 服 務SERVICE SUPPORT PLATFORM FOR BUSINESS DEVELOPMENT業 務 發 展 平 台Business Support• Soft-landing in different regions• Business setup advices• Representative offices• Meeting facilities業 務 支 援• • • • Business Connect• Conferences and seminars• Outbound delegations• Inbound delegations業 務 聯 繫• • • Alliance Network• Business matching• Overseas business opportunities• Technical & talent exchangeopportunities聯 盟 網 絡• • • Showcase• Showcase & demonstration• Exhibition & promotion產 品 展 示• • 54Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

PARTNERSHIPDuring the review period, the Centre has actively establishedstrategic partnerships with local and mainland counterparts,fostering technical exchange and business collaboration withinthe region:Knowledge and Innovation Community inShanghaiIn April 2011, Cyberport signed a five-year strategicpartnership agreement with Knowledge and InnovationCommunity (KIC) in Shanghai. As part of this agreement,Cyberport was able to establish a representative office inShanghai within the KIC campus in August 2011 to help HongKong ICT SMEs explore business opportunities in mainlandChina. The partnership also extended an opportunity forCyberport’s five corporate service subscribers, including HongKong Bubble Mon International Licensing Ltd, DEF APP Ltd,Leovation Ltd, Smoothweb Ltd and XNT Ltd, being nominatedto demonstrate their solutions at the Shanghai CloudComputing Creative Exhibition Center established by theShanghai Yangpu District Government. Cyberport also jointlyhosted various ICT events with KIC, including the SmartphoneApps Seminar and Cloud Computing - Opportunities forEntrepreneurs. KIC is also the strategic partner of Cyberport’sfirst Hong Kong - Shanghai ICT Internship Programme, withboth organizations working together to foster talent exchange.China Cloud Tech Limited in BeijingIn June 2011, Cyberport signed a Memorandum ofUnderstanding with China Cloud Tech Limited. This promiseof collaboration in the development and advancement ofcloud computing technology facilitates technological andprofessional exchanges between the two industry giants, aswell as the promotion of ICT education and training withintheir respective regions.合 作 夥 伴上 海 : 創 智 天 地2011420118ICT()DEF App LtdSmoothweb XNT LtdICT北 京 :China Cloud tech limited20116 China CloudTech Limited ICTAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報55

5 Centres’ Highlights 我 們 的 五 大 中 心Collaboration Centre 協 作 中 心Hong Kong Applied Science and TechnologyResearch Institute in Hong KongIn November 2011, Cyberport signed a Memorandumof Understanding with Hong Kong Applied Science andTechnology Research Institute (ASTRI). Through this strategicpartnership, the organizations hope to collaborate onresearch in technical developments and exchanges, and instandardization in ICT areas such as IPv6, mobility, cloudcomputing, and new and emerging technologies. Cyberportand ASTRI will share office and conference facilities in HongKong, Shenzhen and Shanghai, and work together to promotetechnological development and collaboration in Hong Kongand China.Collaborations in Guangdong ProvinceThrough the Centre, Cyberport has collaborated with ICTorganizations in the Mainland to offer Hong Kong’s growingICT industry a gateway to pursue cross-border opportunitiesin major cities. From membership in the Guangdong CloudComputing Industry Alliance, to partnership with educationalinstitutions in Shenzhen through the Hong Kong-ShenzhenCyberport Creative Micro Fund Young EntrepreneurProgramme, which brings together promising students fromboth cities in collaboration, Cyberport has pioneered newroutes to drive collaboration between current and futureleaders in the ICT industries of Hong Kong and mainlandChina.香 港 : 香 港 應 用 科 技 研 究 院201111IPv6廣 東 省 的 協 作 項 目ICTICTICTICT DelegationsDuring the year under review, Cyberport organized bothinbound and outbound delegations to strengthen HongKong’s collaborative network with ICT industry professionals inother regions, and to showcase Hong Kong’s leadership in theICT industry within the Asia-Pacific region.iCt 代 表 團 交 流 活 動ICTICT56Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

5 Centres’ Highlights 我 們 的 五 大 中 心Collaboration Centre 協 作 中 心Inbound DelegationIn addition to sending delegation to overseas and to mainlandChina for exchanging ideas with resident ICT industry experts,the Centre also invited and received delegations from variouscities and countries to Hong Kong. For instance, the Centreinvited delegates from Shanghai, Beijing, Dalian and France toparticipate in the Cyberport SIGGRAPH Asia 2011 NetworkingReception in December 2011. The networking reception drew1,200 attendees, including SIGGRAPH conference participants,Cyberport’s incubatees, academia and local industryprofessionals, providing an excellent platform for cross-regionnetworking and idea sharing.During the review period, Cyberport received over 100delegations, reaching near 1,200 overseas and mainlandparticipants.外 地 訪 港 團ICT201112—2011(SIGGRAPH)1,200 SIGGRAPH1001,200MAJOR EVENTS AND ACTIVITIES重 點 活 動 回 顧The 8th ChinaInternational SME FairAt the 8th China International SMEFair in Guangzhou in September2011, Cyberport’s Incubatees andSmart-Space tenants were presentto promote Cyberport and itsprogrammes, including the IncubationProgramme and CCMF, as well as totout the benefits of the organization’scollaborative platform and its Shanghairepresentative office.第 八 屆 中 國 國 際 中 小 企 業博 覽 會20119Smart-Space58Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Cloud Computing Development in ChinaSymposiumOrganized by Cyberport, KIC, Hong Kong Computer Society, CloudIndustry Alliance and Shanghai Cloud Computing Innovation Base,speakers shared their perspectives on developments and futurechallenges in cloud computing in June 2011.「 滬 港 雙 城 共 建 雲 計 算 平 台 」 研 討 會20116Smartphone Apps Seminar in ShanghaiICT leaders and entrepreneurs from Hong Kong and Shanghaigathered at the Smartphone Apps Seminar in Shanghai in October2011 to share their smartphone apps and products.上 海 智 能 手 機 應 用 程 式 論 壇201110ICTCloud Computing -Opportunities forEntrepreneurs in ShanghaiDuring this seminar in November 2011 ICTentrepreneurs were given the opportunityto network and learn from the experienceof renowned cloud experts from MicrosoftCorporation, Asia Cloud ComputingAssociation and Cisco Systems APAC,offering over 240 attendees valuableinsights.「 雲 計 算 — 企 業 家 的 機 遇 與 未 來 」201111 ICT240 Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報59

5 Centres’ CENTRES’ Highlights HIGHLIGHTS 我 們 的 五 大 中 心COLLABORATION CENTRE 協 作 中 心Words from our Corporate Service Subscriber企 業 服 務 用 戶 的 話“The Collaboration Centre offered us aplatform to explore new business opportunitiesoutside of Hong Kong. With their support,we established our office in Shanghai, whichis a stepping stone to reaching potentialmarkets in mainland China. We also developeda rewarding network among Shanghaigovernment officials and partners, therebygaining a foothold in that market.”「 協 作 中 心 為 我 們 提 供 優 秀 的 發 展 平 台 , 讓 我 們 能 夠 衝出 香 港 , 在 本 港 以 外 的 市 場 發 掘 營 商 機 遇 。 全 賴 協 作 中心 的 支 持 , 我 們 成 功 在 上 海 開 設 辦 事 處 , 並 與 上 海 的 政府 官 員 及 商 業 夥 伴 建 立 良 好 的 合 作 關 係 , 逐 漸 在 當 地 市場 站 穩 陣 腳 。 現 在 , 上 海 已 成 為 我 們 在 中 國 內 地 的 中 轉站 , 進 一 步 支 援 我 們 開 發 內 地 的 龐 大 市 場 。」Mr Andrew PangFounder and CEO, Leovation Limited彭 煒 旻 先 生60Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

About Leovation Limited (originally Playmotion)Founded in 2004 as Playmotion, Leovation Limited wasacquired by Leo Paper in 2009, when it received its presentname. The company evolved from a one-man operationto some 60 staff with offices in Hong Kong, Shanghai andthe UK. Looking ahead, the company, which specializes inproviding augmented reality, holographic 3D and human scalemotion-based interactive experiences, plans to list itself on thestock exchange in the next few years.Joined Cyberport’s Incubation Programme in 2007, laterentered the mainland market using the Corporate Servicesprovided by the Collaboration Centre.URL: www.leovation.comAwards received:• HKDA Global Design Awards 2011 (Category: Apps, NewMedia) – Silver Award• HKDA Global Design Awards 2011 (Category: Beyond theboundary, New Media) – Excellence Award• Second runner-up in Realfiction Dreamoc contentcompetition with Transformer 3D holographic animation• Cyberport Excellent Company Award 2008• Hong Kong ICT Awards:– 2007: Digital Lifestyle – Grand Award; Lifestyle &Wellbeing – Gold Award– 2006: Digital Entertainment – Best Digital Media; BestStart-up Company• Asia Pacific ICT Award 2006: Best Start-up – Grand Award利 奧 創 意 媒 體 有 限 公 司 Playmotion 2004 2009(AR)6020072011www.leovation.com曾 獲 獎 項 :• 2011 () – • 2011 () –• Realfiction Dreamoc • 2008• – 2007– 2006• 2006Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報61

5 Centres’ Highlights 我 們 的 五 大 中 心Knowledge Centre 知 識 及 人 才 發 展 中 心The Cyberport campus has proven to be a gathering point forICT professionals from around the world. During the reviewperiod, a total of 24 ICT-related conferences and events wereheld at Cyberport, attracting some 9,900 industry professionalsand experts. These conferences and events provided a valuableopportunity and platform for ICT practitioners to share theirexperiences and ideas.In addition, the Centre has also maintained active partnershipwith over 100 industry associations, government bodies,academic institutions and commercial firms to support avariety of ICT events and activities held both on and off theCyberport campus during the review period. It has thus servedas a strong vehicle to promote the collaboration of industrypractitioners and ICT development in Hong Kong.Knowledge transfer and training sessions offered by theCentre provide development updates on current technologies,and information on the latest hot IT topics such as cloudcomputing, the new Internet Protocol Version 6 (IPv6), HTML5,e-content, green ICT practices, digital audio broadcastingtechnology, stereoscopic 3D production and mobileapplications development.ICT24ICT9,900ICT100ICTICTIT 6(IPv6)HTML5 ICT3D485,900ICTICTDuring the review period, the Centre organized and supported48 knowledge transfer and training sessions, attracting over5,900 local ICT practitioners and helping the Hong Kong ICTindustry maintain a healthy eco-system with a continuoussupply of bright and brilliant ICT talents.ICT Knowledge Transfer and Training Sessions Fast FactsiCt 知 識 傳 授 統 計 資 料• 24 ICT-related conferences and events were held with some 9,900 industry professionals and experts attracted24ICT9,900• 48 knowledge transfer and training sessions were organized and supported with more than 5,900 local ICTpractitioners joined485,900ICTHighlighted topics:重 點 內 容 :• digital media marketing• mobile advertising• digital gaming• cloud computing• Internet Protocol Version 6 (IPv6) and digital audiobroadcasting6(IPv6)• patent application• technology commercialization64Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

5 Centres’ Highlights 我 們 的 五 大 中 心Knowledge Centre 知 識 及 人 才 發 展 中 心2011 Hong Kong MarketingSmartphone Apps PopularityContestCo-organized by the Centre, this contestpromoted the use of smartphones inadvertising and marketing activities, andpromoted Hong Kong as a leader in creativeadvertising and marketing smartphone apps.2011 香 港 最 受 歡 迎 市 場 推 廣smartphone Apps 大 賽Cyberport Speaker Series - The Birthof A New Medium in HK: Digital AudioBroadcasting (DAB)Attendees of this seminar gained an overview on thelatest developments, challenges and opportunities in DABtechnology, as well as future market trends in the audiobroadcasting marketplace.數 碼 港 講 座 系 列 — 數 碼 聲 音 廣 播 研 討 會Silicon Valley Business SchoolSeminarsThese seminars provided valuable insights intohow the Silicon Valley model of structuring a hightechstart-up works, and guidance on technologytransfers, patent licensing, sales and acquisitions.矽 谷 商 學 院 研 討 會66Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

ICT StartUP RoundtableDiscussionThe half-day roundtable invited accomplishedindustry entrepreneurs to share with the audiencetheir experiences, challenges and successes instarting and running a business.科 技 創 業 全 面 講World Internet Developers’Summit 2012Renowned speakers from Adobe, Facebook,Microsoft, Mozilla, Rovio Asia, W3C and Yahoo!shared with the audience the latest technologyfor HTML5 and cross-platform Internetdevelopment.國 際 互 聯 網 開 發 者 會 議 2012 AdobeFacebook MozillaRovioAsiaW3CHTML 5Next Generation InformationTechnology & Standard SymposiumIndustry professionals and regional governmentrepresentatives from Hong Kong as well as mainlandChina came together to share information and ideas ondevelopments in cloud computing, related standards andspecifications, and related government policies.新 一 代 信 息 技 術 及 標 準 論 壇Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報67

For the fourth consecutive year, the Centre co-organized theHong Kong Youth 3D Animation Competition with partnersto nurture in younger generations an interest in design anddigital technology. Talented primary and secondary studentsreceived free training in the use of 3D animation software andengaged their newfound experience in creating animations.Over 700 students participated in the competition of the year2011.Reaching Out to VisitorsAs part of the promotion of a digital-inclusive society,Cyberport welcomes visitors from all communities andcountries, including younger generations, senior citizens, ICTprofessionals, government officials and overseas delegations.The Centre has designed programmes to enhance publicunderstanding of information technology and strengthen tiesbetween the public and the digital community, driving HongKong forward as a knowledge-based society. The visits alsoopened opportunities for idea and knowledge exchange, aswell as the possibility of further collaboration. During thereview period, the Centre arranged over 190 visits, reachingover 4,800 visitors from different communities, educationalinstitutions and 23 countries.3D3D700到 訪 活 動ICT1904,80023ICT Adoption InitiativeOver the years, the Centre has actively engaged in andsupported various initiatives to bridge the digital divide inour society and enable more citizens to enjoy the advantagesoffered by technology. We have persuaded a number ofdifferent organizations to join hands with us in assorted digitalinclusion programmes for the community. These effortsenable young people from poor families, senior citizens,persons with disabilities, and other needy members of thecommunity, to access, learn and use ICT and online services,to better help them integrate into the information society.The Centre has also engaged business establishments andpartners to provide support to NGOs with computer facilitiesand basic technology courses to assist various needy groupsin different parts of Hong Kong. The effort has enhancedthe NGOs’ information technology capacity and resourcesto sustain ongoing computer-related services and deliverprofessional training.推 動 iCt 普 及 化ICTAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報69

5 Centres’ Highlights 我 們 的 五 大 中 心Knowledge Centre 知 識 及 人 才 發 展 中 心Words from our intern實 習 生 的 話“I benefited from the hands-on technicalexperience, which enabled me to engageand learn from professional ICT practitioners.My supervisor at Microsoft was helpful.He was always there to give me guidanceand mentoring. I would have missed agreat opportunity if I had not joined theCyberport internship programme. I willhighly recommend other students to join theprogramme this year.”「 透 過 親 身 參 與 ICT 工 作 , 我 獲 得 了 實 用 的 工 作 技 巧及 經 驗 , 並 能 夠 從 ICT 業 界 人 士 身 上 學 習 專 業 知 識 ,特 別 是 在 微 軟 工 作 時 , 主 管 經 常 從 旁 提 點 及 指 導 我 ,使 我 獲 益 良 多 。 如 果 我 沒 有 參 加 數 碼 港 的 實 習 計 劃 ,一 定 不 會 獲 得 這 個 難 能 可 貴 的 學 習 機 會 。 所 以 , 我會 建 議 其 他 同 學 積 極 參 加 今 年 度 的 計 劃 。」Mr Helic LeungParticipant of the HK-SH ICT Internship Programme, student of theChinese University of Hong Kong梁 銘 林 先 生70Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

About the Hong Kong-Shanghai ICT InternshipProgrammeLaunched in June 2011, the Hong Kong-Shanghai ICTInternship Programme offered university students from HongKong the opportunity to gain hands-on experience andvaluable contacts in the industry by working on ICT-relatedprojects for multinational corporations in Shanghai.Programme Duration: 6-12 weeksEligible Participants: Full-time ICT students from universities inHong KongParticipating companies in 2011:• Concept Art House LLC Shanghai Rep. Office• EMC Computer Systems (FE) Limited• IBM China/ Hong Kong Limited• Leovation Limited• Microsoft Corporation• Shui On Land Limited關 於 「 滬 港 資 訊 及 通 訊 科 技 短 期 實 習 計 劃 」20116ICTICT6-12 ICT 2011 年 參 與 公 司 :• • EMC()• • • • Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報71

5 Centres’ Highlights 我 們 的 五 大 中 心72Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

TechnologyCentre科 技 中 心Mission• Bring cutting-edge industry tools and knowledge to HongKong in order to develop a diversified technology-orientedlocal industry with a global outlook and network.• Provide state-of-the-art hardware and software facilitiesto ICT and digital entertainment practitioners.使 命• 將 業 界 尖 端 技 術 與 知 識 引 入 香 港 , 務求 以 全 球 化 的 視 野 和 網 絡 推 動 本 地 科技 產 業 作 多 元 化 發 展 。• 為 ICT 業 界 及 從 事 數 碼 娛 樂 事 業 的 公 司提 供 先 進 的 硬 件 配 套 及 軟 件 支 援 。The Technology Centre is dedicated to bringing cuttingedgeindustry tools and knowledge to Hong Kong in order todevelop a diversified technology-oriented local industry with aglobal outlook and network. Since its inception in 2003, theTechnology Centre (formerly the Digital Media Centre) hassupported local businesses through the investment of high-endproduction equipment, as well as the production of videos,films, animations and game content for online platforms.Due to the rapid pace of development of ICT, the Centrewill further enhance its role in the adoption of state-of-thearttechnology in the streams of digital entertainment, socialmedia, cloud computing and mobility solutions to better helpICT start-ups capture growing opportunities in these fourareas.2003ICTICTAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報73

5 Centres’ Highlights 我 們 的 五 大 中 心Technology Centre 科 技 中 心Digital EntertainmentDigital Cinema Exchange (DCX)Launched by the Centre in October 2009 with funding fromthe Hong Kong Film Development Council, the Digital CinemaExchange Pilot Scheme made use of Cyberport’s robustnetwork infrastructure and cloud computing solutions tocreate a high-speed digital exchange platform. This enabledthe local film industry to transmit large amounts of highresolutiondigital content through a highly secured networkfor purposes of broadcast, distribution and production. Theresults have been well received by content providers, cinemaoperators and audiences.The Centre has delivered over 30 different forms ofentertainment for the public to enjoy, such as live concerts andoperas, as well as helping film distributors to transmit digitalprints to Hong Kong. Through the DCX platform, the 2011Wimbledon championship games were transmitted live in 3Dfrom the United Kingdom to five Hong Kong digital cinemas inJuly 2011.In November 2011, Cyberport continued the DCX service withits own funding.4K Live Streaming TechnologyWhile most industry practitioners in the market are still using2K technology for movie production, Cyberport introduced4K live streaming technology, offering a next level experiencefor those in the local industry. This technology offers fourtimes the resolution of HDTV, and is capable of delivering awide range of content, including 3D content, to large theatrevenues in real time. During the review period, the Centre hashosted 4K demonstrations within Hong Kong, and betweenHong Kong, the US, and Japan, as well as a workshopintroducing a complete 4K production chain for filmmakers.Such initiatives were realized through our partnership with thedigital media organization CineGrid in 2010, when Cyberportbecame their first member from the Greater China region.數 碼 娛 樂數 碼 電 影 交 換 平 台 (DCX)200910302011720113D2011114K 直 播 技 術2K 4KHDTV3D2010CineGridCineGrid4K 4K 4K74Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Digital Entertainment Support Fast Facts 「 數 碼 娛 樂 支 援 」 統 計 資 料 一 覽• 10 cinemas participated in the DCX Pilot Scheme in 20102010 年 10 試 驗 計 劃 • First 3D FIFA World Cup Games delivered 18 matches to digital cinema in Asia via the DCX platform in 2010201018 場 FiFA 世 界 盃 足 球 賽 3D 直 播 開 創 亞 洲 區 先 河• First live 4K content transmission demonstration to the Tokyo International Film Festival 2010首 次 4K 視 頻 直 播 示 範 2010• Over 51 live events via the DCX platform delivered since June 20102010651 場 現 場 直 播• 3 live 4K content transmissions delivered since July 2010201073 場 4K 視 頻 直 播• First 3D Wimbledon Games delivered in Asia via the DCX platform in 2011 首 次 溫 布 頓 網 球 錦 標 賽 3D 2011Stereoscopic 3D CompetitionThe Centre has also promoted the adoption of stereoscopic3D (S3D) imaging technology, which is increasingly popularamong filmmakers. To this end, Cyberport hosted The FirstHong Kong S3D Competition in June 2011 with fundingsupport from Create Hong Kong. This competition has helpedencourage the production of more local S3D content.Winners of the Centre’s stereoscopic 3D animation competitionwere also nominated to participate in the Autodesk Panorama2011 Training Camp. They received critiques of their workfrom professionals in the digital entertainment industry, andreview sessions to help them advance their skills.立 體 3D 創 作 比 賽3D201163D3D AutodeskPanorama 2011Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報75

5 Centres’ Highlights 我 們 的 五 大 中 心Technology Centre 科 技 中 心Dedicated S3D Channel on YouTubeThe Centre took advantage of YouTube Hong Kong‘scapability of supporting S3D content and created a dedicatedS3D channel to showcase entries made for Hong Kong’s firstS3D competition. The aim was to further drive the adoptionof S3D Internet technology, leverage the S3D content in HongKong and encourage the production of quality content witheither native 3D live action or stereoscopic 3D animation.The brand channel had reached over 157,000 video views asof March 2012. The Centre is now actively using the YouTube3D brand channel for promoting long-term S3D activitiesand events like training, workshops and technology transfersharing sessions, and will use the channel in the future topromote the latest S3D technology developments to thecommunity.於 Youtube 設 立 專 用 立 體3D 頻 道YouTube3DYouTube3D3D3D3D 20123 157,000YouTube 3D3D3DSocial MediaSocial media technology is becoming increasingly entwinedwith new emerging technologies. As interactivity and quickaccess to behavioral information becomes more important inthis highly digitized environment, a revolutionary new era ofsocial networking promises vast revenue generating potentialfor businesses poised to adapt to this new knowledge-basedeconomy.The Centre has collaborated with local educational institutesto prepare young people to take advantage of businessopportunities arising through social media, and to assist themin staying abreast of new technology and its commercialapplications.社 交 媒 體76Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

HKUST Collaboration Provides a DigitalMedia PlatformCyberport collaborated with the HKUST NIE Social MediaLaboratory in February 2012 to capitalize on the synergy ofemerging social media and interactive technology. The Centreprovided HKUST students with intensive multimedia trainingto equip them to create the kinds of interactive contentrequired in the development of social media technology.This collaboration corresponds with the Centre’s mission topromote digital technology, and Cyberport’s larger missionto attract and nurture the next generation of ICT talent andencourage the adoption of new technologies within thecommercial sector.與 香 港 科 技 大 學 合 作 推 出 數 碼媒 體 平 台NIE20122ICTCloud ComputingCloud computing is another crucial technological focus forCyberport. With a comprehensive and integrated solutiondelivered by cloud technology, an ICT company can manageits business more efficiently and effectively even as it growsin size and complexity. In July 2011, the Centre begandevelopment on the Cyberport Cloud Computing Platform tooffer ICT businesses a simulation environment and up-to-dateinformation on cloud technology.As of March 2012, 12 companies have tried the CyberportCloud Computing Platform, including existing incubatees andalumni, for use on projects ranging from music recognitionsoftware, educational games, interactive video conferencingportals, equipment optimization, and more.雲 端 運 算ICT20117ICT2012312Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報77

5 Centres’ Highlights 我 們 的 五 大 中 心Technology Centre 科 技 中 心Mobility SolutionMobile service development, managed by the Hong KongWireless Technology Industry Association (HKWTIA), isanother key focus. Cyberport promotes the developmentof wireless services through its support for the Hong KongWireless Development Centre (HKWDC), a Centre operated byHKWTIA, located at Cyberport campus.Wireless Services Value Chain CorporationIn July 2010, HKWTIA and HKWDC together established theWireless Services Value Chain Cooperation (WSVCC) platformin mainland China. The aim of WSVCC is to encouragecollaboration and knowledge sharing in mobile and wirelesstechnology between Hong Kong and the Mainland. Underthis initiative, the Centre organized a series of 19 eventsduring the review period, including networking events,training sessions and panel discussions. Representatives fromglobal wireless and ICT companies shared their expertise on aseries of industry topics, such as the necessary infrastructure ofa smart city, and roadshows held in May and November 2011in Guangzhou to strengthen the connections between HongKong and China telecom operators and mobile technologyenterprises.流 動 方 案(HKWTIA)(HKWDC)珠 三 角 移 動 應 用 合 作 平 台HKWTIAHKWDC20107 (WSVCC)19ICTWSVCC201151178Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Technical TrainingTo enhance the technical skills of industry practitioners andenable them to keep pace with international competition,concurrent technical training courses were organized. Theseincluded development training courses for iOS 4, iOS 5 andAndroid 3.0 Honeycomb, as well as HTML5 programming. In2011, over a hundred developers enhanced their skills throughthese training courses.Mobility-related Events and ActivitiesDuring the review period, a wide range of conferences,exhibitions and similar events on mobility solutions wereorganized. These included Disaster Communications 2.0,discussing the use of wireless technology during naturaldisasters, and the 2011 Hong Kong Marketing SmartphoneApps Popularity Contest, promoting smartphone use increative advertising and marketing campaigns. Such eventshelp the organization develop a training scheme to benefitlocal 3G talents for a future in application development, andprovide promotional avenues for industry players to generatebusiness opportunities. These are vital stepping stones towardHKWDC’s goal of increasing Hong Kong’s competitive edge inthe Asia-Pacific wireless industry, and Cyberport’s mission oftransforming Hong Kong into an ICT hub for the region.In addition to these events, HKWDC also conducted about100 demonstrations during the review period to illustrate theperformance of mobile and wireless applications developedlocally.技 術 培 訓HKWDCiOS4iOS 5Android 3.0 Honeycomb HTML52011100與 流 動 技 術 相 關 的 活 動HKWDC2.02011Smartphone Apps HKWDC3GHKWDCICTHKWDC100Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報79

5 Centres’ Highlights 我 們 的 五 大 中 心Technology Centre 科 技 中 心Words from our partner合 作 機 構 的 話“The Digital Cinema Exchange pilot projectwas a huge success, and really illustratedits power in increasing efficiency andspeeding up cinema digitalisation bybroadcasting Asia’s first live 3D broadcastsof the FIFA World Cup and the WimbledonChampionships via network, and makingHong Kong the first Asian city outside Japanbroadcasting Japanese live concert. This hashelped to create a platform for future live3D content. We are very grateful for theCyberport Technology Centre’s participationin this initiative, in particular their technicalsupport. We hope this technology canbe used in cinemas citywide in order tooptimise its full benefits.”「 作 為 一 個 試 驗 計 劃 ,『 數 碼 電 影 交 換 平 台 』 可 說 是非 常 成 功 。 透 過 這 個 平 台 , 我 們 進 行 全 亞 洲 首 次 以網 絡 作 3D 現 場 直 播 的 FIFA 世 界 盃 足 球 賽 及 溫 布 頓網 球 錦 標 賽 , 亦 令 香 港 成 為 全 亞 洲 首 個 日 本 以 外 現場 直 播 日 本 演 唱 會 的 地 方 , 為 將 來 作 更 多 3D 現 場 直播 鋪 路 。 我 們 十 分 感 謝 數 碼 港 科 技 中 心 的 參 與 及 付出 , 尤 其 是 提 供 技 術 方 面 的 支 援 。 希 望 這 項 技 術 能普 及 至 全 港 各 間 戲 院 , 發 揮 更 強 大 的 科 技 優 勢 。」Ms June WongChairman, Hong Kong Theatres Association Ltd黃 寶 珠 小 姐80Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Photo taken by Sing Tao Daily 相 片 由 星 島 日 報 拍 攝About the Digital Cinema Exchange Pilot Scheme(DCX Scheme)DCX is a digital entertainment pilot scheme pioneeredby Cyberport’s Technology Centre funded by the FilmDevelopment Fund in 2009. Using Cyberport's robotic networkinfrastructure and cloud computing solutions to create a highspeeddigital exchange platform for cinemas, film distributors,film production and post-production companies, DCX enablesthe secure transmission of high-resolution digital content.Participating Circuits:• Broadway Cyberport• Paris London New York Milano Cinema• Golden Harvest Tsing Yi• MCL Telford Cinema, MCL Metro Cinema• The Grand Cinema• UA Tuen Mun Town Plaza, UA iSQUARE, UA MegaBox• Palace apmMajor achievements:• First 3D FIFA World Cup broadcast to digital cinema in Asiavia network• First 3D Wimbledon game broadcast in Asia via network• 3 live 4K content transmission• 51 live events broadcasted via the Digital Cinema Exchangeplatform關 於 「 數 碼 電 影 交 換 平 台 」 試 驗 計 劃(DCX 計 劃 )DCX2009參 與 院 線 :• • • • MCLMCL• The Grand Cinema• UAUA iSQUAREUA MegaBox• Palace apm取 得 成 果 :• FIFA3D• 3D• 34K• 51Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報81

5 Centres’ Highlights 我 們 的 五 大 中 心82Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

CampusDevelopmentCentre園 區 創 建 中 心Mission• Provide ICT companies with office space, infrastructureand services designed to meet their businesses’ specializedtechnological needs.• Develop, manage and maintain the Cyberport campus andfacilities, with the utmost concern for customer satisfaction,safety, and sustainability.• Provide an inspirational and creative environment forCyberport tenants and visitors.使 命• 為 ICT 公 司 提 供 各 種 合 適 的 辦 公 室 、 設備 和 服 務 , 以 滿 足 租 戶 的 專 業 科 技 需求 。• 以 客 戶 滿 意 程 度 、 安 全 性 及 可 持 續 發展 等 原 則 為 大 前 提 , 發 展 、 管 理 及 保養 數 碼 港 園 區 內 的 設 施 。• 為 數 碼 港 的 租 戶 和 訪 客 提 供 啟 迪 創 意思 維 的 環 境 。The Campus Development Centre is responsible for thedevelopment, management and maintenance of theCyberport campus’ facilities. Through the Centre, HongKong ICT companies and companies seeking to establisha presence in Hong Kong can lease office space speciallydesigned to meet their technological needs. The campusalso includes The Arcade, Cyberport’s avant-garde shoppingmall, and our on-site hotel Le Méridien Cyberport. We aim tofoster inspirational workspaces and a self-sufficient creativecommunity in which entrepreneurs and creative executives canrelax, interact and network.ICTThe Cyberport CommunityUnlike the traditional clustered skyscrapers so familiar tothe general business community, the low-density, lowriseand aesthetically appealing Cyberport campus wasspecifically designed to foster creativity and innovation. Withits interconnected state-of-the-art broadband network and100,000m 2 Grade A intelligent offices, cutting-edge IT andtelecommunications facilities, Cyberport has everything adigital company could need to succeed in the competitive ICTmarketplace.數 碼 港 社 區10ICTAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報83

5 Centres’ Highlights 我 們 的 五 大 中 心Campus Development Centre 園 區 創 建 中 心For the year 1 April 2011 - 31 March 2012, the Cyberport ITcommunity continued to grow at a promising pace. Duringthe review period, the occupancy rate of Cyberport’s lettableoffice space was 86%, compared to 81% at the end of March2011. There were 113 companies, comprising 75 commercialorganizations, 7 non-profit organizations, 1 governmentdepartment and 30 on-site incubatees.Over the years, Cyberport has attracted many well-knowninternational companies in the ICT industry. As of March2012, 52% of Cyberport’s 75 office tenants had non-localorigins, with 51% of them establishing their first foothold inHong Kong at Cyberport. Of the office tenants, 60% wereSMEs. During the year, Cyberport’s office tenants employedaround 5,000 people.201141 2012331 2011381%86%11375730ICT201237552%51%60%5,000Tenants & Occupancy 租 戶 及 租 用 率A total of 113 companies113Overall occupancy rate is 86%86%Over 50% are non-local original companies50%60% are SMEs60%Around 5,000 people employed in the community5,000 Office tenant Mix (Country/region) 辦 公 室 租 戶 分 佈 ( 所 屬 國 家 ╱ 地 區 )Iceland 1%Spain 1%Australia 1%NZ 3%Japan 1%Korea 1%Belgium 2%Singapore 3%PRC (excluding H.K.) 3%UK 7%Hong Kong 47%US 22%France 8%84Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Smart-Space @ CyberportCyberport launched Smart-Space @ Cyberport to serve as aneasy-access programme enabling companies to rent readybuiltoffice units with 2-5 desks per room on a monthly basisat a comprehensive fixed price. It’s the perfect launch pad fornew start-ups, a welcoming landing for newcomers bringingoverseas opportunities to the Asian and Chinese markets, anda flexible environment for existing companies seeking to scaletheir business.Since its launch, Smart-Space @ Cyberport has accommodatedover 40 companies.Cyberport Tenants ClubCyberport concerns about the bond-building among tenantsand workforce within the Cyberport campus and thus foundedthe Cyberport Tenants Club (CTC) in 2003 to help tenantsbecome better acquainted. Members help each other andalso organize events of interest to the wider community,demonstrating the potential of Cyberport as an ICT hub.These events include networking luncheons at Le MéridienCyberport for tenants and incubatees; the CTC BasketballChampionship, which encourages activity, fun and goodsportsmanship; and CyberRun for Rehab, which broughttogether teams of runners and walkers to raise money for aworthy cause.smart-space @ Cyberport 租 用 計 劃 Smart-Space @ Cyberport40Smart-Space @ Cyberport數 碼 港 租 戶 聯 會(CTC)2003CTCAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報85

5 Centres’ Highlights 我 們 的 五 大 中 心Campus Development Centre 園 區 創 建 中 心The Community-Building FacilitiesWorking in tandem to support the self-sufficiency of theCyberport community are The Arcade, Le Méridien Cyberport,and the campus’ associated conference and exhibitionfacilities.During the review period, Cyberport hosted 72 ICT andknowledge sharing events large and small within theCyberport campus, including the Next Generation InformationTechnology and Standard Symposium, Cyberport SIGGRAPHAsia 2011 Networking Reception and World Developers’Summit 2012 with over 15,800 participants, showcasingthe appeal of its lush ambiance and ICT services for industryleaders.The ArcadeSituated in the heart of Cyberport, The Arcade is a 27,000 m 2retail and entertainment complex. It offers the community astate-of-the-art cinema, an international mix of fine diningand restaurants, a variety of lifestyle shops and an on-sitesupermarket. It is also equipped with avant-garde multimediafacilities and open Wi-Fi, which presents great potential forlarge-scale conferences and networking events for the ICTsector.社 區 建 設 設 施72 ICT - (SIGGRAPH)20121.58數 碼 港 商 場2.7ICTCyberport celebrated the holidays instyle with Christmas Funland 2011.More than 75,000 participants wereall invited to the various games ondisplay with mascot Rody at theFunland.2011 20117.5 Rody86Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

In the fall of 2011, The Arcade presented a series of WeekendMarkets, bringing the Hong Kong public a unique experiencemodeled on outdoor markets popular in the West.2011Together with the Hong Kong Internet Society, Cyberportco-hosted the first day conference of the World InternetDevelopers’ Summit 2012, gathered the greatest minds inthe ICT industry.2012During the year under review, The Arcade successfullyestablished a theme based on the concept of home lifestyle,including new shops such as G.O.D., OVO, Okooko, TREE, JMStyle, Indigo Living, and Indigo Kids. A number of thematicevents were organized, including the Christmas Funland andWeekend Market, to bring the Cyberport joyful and leisureexperience to the public. As of March 2012, The Arcade’soccupancy stood at 92%. Recruitment of new shops which fitthe trade mix will continue.Le Méridien CyberportThe hotel Le Méridien Cyberport is a 170-room haven of chiccontemporary design and cutting-edge technology perfectlyblended with upscale amenities. The hotel’s advanced facilitiesand urban style offer an ideal venue for any nature of events,with on-site exhibition spaces, catering and guest facilitiessuitable for industry exhibitions, conferences, forums, trainingprogrammes and similar events. OVOOkookoTREEJM StyleIndigo LivingIndigo Kids2012392%數 碼 港 艾 美 酒 店170Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報87

5 Centres’ Highlights 我 們 的 五 大 中 心Campus Development Centre 園 區 創 建 中 心Words from our tenant租 戶 的 話“I enjoyed the atmosphere at Cyberportcampus, where many other creative talentsgathered to make magic happen. It wasan amazing experience to meet real Oscarwinners at Cyberport’s Digital EntertainmentLeadership Forum! The facilities herealso added value to all stages of ourdevelopment, especially in post-production.”「 我 很 享 受 數 碼 港 園 區 內 創 意 人 才 之 間 充 滿 創 作 火 花的 氣 氛 。 我 更 有 幸 在 數 碼 娛 樂 領 袖 論 壇 中 與 奧 斯 卡獎 項 得 主 會 面 , 實 在 是 難 能 可 貴 的 經 驗 ! 數 碼 港 的完 善 設 施 為 我 們 在 不 同 發 展 階 段 創 優 增 值 , 對 我 們發 展 後 期 製 作 相 當 重 要 。」Mr John Chu, BBSFounder of Centro Digital Pictures Ltd.朱 家 欣 先 生 ,BBS88Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

About Centro Digital PicturesCentro Digital Pictures is widely recognized as a pioneer ofdigital film effects and computer animation in Asia. Centro’slist of award-winning films includes “The Stormriders”,“Shaolin Soccer” , “Kung Fu Hustle” and “Kill Bill”.With its expertise in producing stunning and entertainingeffects for movies, Centro brought this know-how to theattraction world with its 5-min 70mm “Whisker’s Wild Ride”4D simulation film for Hong Kong’s Ocean Park, the UAEPavilion film “A Dream Journey” at the 2010 Shanghai Expoand the “Flight of the Golden Dragon” opening of the BubbleShow, City of Dreams, Macau.In 2007 Centro co-produced with the Walt Disney studio whatwas to be Disney’s first Chinese language feature film “TheSecret of the Magic Gourd” aimed at the mainland market. Itwas awarded the Golden Rooster Award for Best Children’sFilm of the Year.Centro is also renowned for high-end post-production oftelevision commercials. As a 21st century digital studio,Centro’s mission is to allow ideas and techniques to crosspollinateand enrich the storytelling process with the aim ofimparting a lasting impression on the audience. As a memberof the world-renowned Deluxe Entertainment Services Group,Centro is affiliated with some of the most forefront companiesin the world for the creation and delivery of the ultimatequality in all aspects of film-making.關 於 先 濤 企 画 有 限 公 司()()200 20032005 www.centro.com.hkTenancy: A Cyberport tenant since 2003, Centro DigitalPictures expanded its office in 2005.URL: www.centro.com.hkAwards received:• Over 40 local and international awards, including HongKong Film Awards, Taipei Golden Horse Awards, andGolden Roosters Awards所 獲 獎 項 :• 40Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報89

Sustainable Development持 續 發 展

Sustainable Development 持 續 發 展CorporateSocialResponsibility企 業 社 會 責 任Cyberport’s goal is to become an ICT hub for the Asia-Pacific region.In keeping with this mission, we also strive to be a responsiblecontributor to society. From a personal investment in our localcommunity and our staff’s well-being, to big picture efforts towardenvironmental protection and sustainable development, Cyberportis committed to taking an active role in promoting positive socialenhancement.數 碼 港 的 長 遠 目 標 是 成 為 亞 太 區 iCt 業 界 的 領 先 樞 紐 , 而 我 們 在 發 展 過 程 中 不 忘 貢獻 社 群 , 主 動 承 擔 社 會 責 任 , 從 個 人 的 在 職 培 訓 、 整 體 員 工 的 福 利 到 社 會 的 環 保 事業 及 可 持 續 發 展 , 我 們 均 積 極 投 放 資 源 , 樂 於 擔 當 推 動 社 會 進 步 的 主 導 角 色 。Care for the EnvironmentCyberport has been active in implementing its environmentalsustainability commitment, and throughout the year has takenpart in and organized a range of environmentally friendlyinitiatives.Going Green on CampusMany features of Cyberport’s structure were designed withenergy efficiency in mind, such as the lighting choices,intelligent lifts and escalators, and grey water recycling system.Operational initiatives like keeping the Arcade between 24-26°C during summer months, and the campus’ assorted wasterecycling programmes, converting food waste into fertilizer,cooking oil into bio-diesel, and so forth, have also contributedto the effort. In 2012, the campus will carry out an energyaudit to review current energy consumption and review theefficacy of these projects.推 動 環 保園 區 環 保 措 施2426201292Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Green Roofing InitiativesGreen roofing currently covers 875 m 2 of Cyberport 3’s Core Aand B office buildings. In addition to improving the aestheticsof the building and its surrounding environment, green roofingenhances energy conservation and rainwater retention efforts,particularly during the summer. It is durable, low maintenance,cost-efficient and highly sustainable.Renewable EnergyAs part of its commitment toward sustainability and usingrenewable energy sources in its daily operations, Cyberporthas installed 10 Power Predictors at various locations onthe campus. These specialized gauges collect and measureenvironmental data to assess the feasibility of using solarpanels and wind turbines on site to generate energy. Cyberportis the only site in Hong Kong using 10 Power Predictors in asingle site for a comprehensive energy assessment.Joined Earth Partner of Friends of the EarthWith the aid of Earth Partner, a corporate environmentalprogramme designed to educate and raise awareness,Cyberport worked on reducing its environmental impact andreinforcing a ‘green’ mindset among management and staff.Cyberport participated in the Power Smart energy conservationcontest, the Conscientious Recycling Charter, and programmesto reduce electronic waste and recycle cooking oil.天 台 綠 化 行 動3AB875可 再 生 能 源 (PowerPredictor)參 加 地 球 之 友 「earth Partner」計 劃EarthPartnerAnnual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報93

Sustainable Development 持 續 發 展Corporate Social Responsibility 企 業 社 會 責 任Supported the Hong Kong Save the SharksCampaignCyberport co-organized and hosted an event promoting globalmarine conservation, featuring internationally renownedoceanographers, international and local experts and celebrities,and 1000 children all pledging to abstain from eating sharkfins. To spread the word and raise awareness, a photographyexhibition entitled “Beauty of the Sharks” was also showcasedin Cyberport and a number of Hong Kong malls in the summerof 2011.支 持 保 護 鯊 魚 運 動1,0002011Care for the CommunityCommunity VisitsCyberport organized over 78 student and community visitsthroughout the year, giving more than 3,500 visitors aninsight into the ways in which technology could improvetheir daily lives. Guests included students from local schools,universities and overseas colleges, members of the community,elderly citizens and members of non-profit organizations andassociations in Hong Kong. To enrich the visiting experiences,Cyberport also arranged hands-on trainings and talks for theyoungsters and community members.Community ActivitiesOur commitment to local communities shone this year throughour participation and support in many community activitiesand campaigns, such as the Drug Prevention - Embrace aHealthy Life Campaign; Digital Solitary Fund City Dash; CharityWalk for the Aged Happiness; CyberRun for Rehab 2011 andWalking on Air for Playright 2012.關 懷 社 群社 區 團 體 到 訪783,500社 區 服 務 活 動2011201294Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Awarded as Caring CompanyIn recognition of our commitment to the community,Cyberport has been awarded the Hong Kong Caring Companylogo for two consecutive years. Cyberport’s commitment isclearly demonstrated through charitable donations, technicalsupport and services to the disadvantaged, and charity events,as well as its concern for the health and well-being of its ownemployees.獲 頒 「 商 界 展 關 懷 」 標 誌Care for the StaffAt the heart of Cyberport’s approach to staff developmentis our focus on maintaining a culture of mutual respect andopen communication. This goes beyond team briefings anddepartmental meetings to keep our colleagues informed onprojects and initiatives, and embraces Cyberport’s informationsharingmission from the ground up.We value our staff as our most important resource and investin on-going training and development in order to help themto exhibit their full potential. Through internal and externaltraining courses we help our staff hone their technical skillsand managerial talents, refine their language skills and stay upto date on compliance training.We value our employees, and we convey that throughcompetitive remuneration and benefits packages wellalignedwith the local market. More than that, we value ouremployees’ well-being, and strive to ensure a happy, healthywork-life balance for our staff. As we look to the future, wewill continue to enhance the value of our people by investingin staff’s development and capabilities enhancement, for theirpersonal growth and further advancement.關 愛 員 工Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報95

Sustainable Development 持 續 發 展Corporate Social Responsibility 企 業 社 會 責 任Words from our beneficiary受 惠 機 構 的 話“We are deeply grateful to Cyberport forsupporting CyberRun annually. Over thepast eight years, it has become an incrediblysuccessful charity event in Hong Kong,with more than 8,000 people gathering inCyberport and helping to raise overHK$6 million in donations since 2004 forthose in need.”「 我 們 十 分 感 謝 數 碼 港 每 年 對 『 健 康 萬 步 數 碼 港 』 的付 出 和 努 力 , 讓 本 活 動 在 過 去 八 年 間 能 夠 成 為 香 港慈 善 界 盛 事 , 錄 得 驕 人 的 善 款 數 字 。 自 2004 年 舉 辦首 屆 活 動 起 , 本 活 動 已 累 積 超 過 8,000 名 參 加 者 ,為 有 需 要 的 人 士 合 共 籌 得 超 過 600 萬 港 元 的 善 款 。」Ms Sheila PurvesDirector, International and China ProgrammesThe Hong Kong Society for Rehabilitation貝 維 斯 女 士96Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

About CyberRunCyberRun is a yearly event co-organised by Hong Kong Societyfor Rehabilitation (HKSR) and Cyberport Tenants Club to raisefunds for the a HRSR. Since 2004, donations from the eventhave helped to support rehabilitation training and consultationservices for people with disabilities and chronic illnesses inmainland China and Hong Kong. CyberRun also advocatesequal enjoyment and inclusion in sports for people withdisabilities, and promotes sports as a means of social inclusion.Accomplishments:• Donations received since 2004: HK$6,844,455• Total number of walkers: 3,483• Total number of runners: 2,572• Total number of participants: over 8,100• Total distance: 12,860km (runners) or 13,932km (walkers) -roughly one-third the circumference of the Earth關 於 「 健 康 萬 步 數 碼 港 」2004活 動 佳 績 :• 20046,844,455• 3,483• 2,572• 8,100• 12,86013,932- Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報97

Sustainable Development 持 續 發 展CORPORATEGOVERNANCEREPORT企 業 管 治 報 告Hong Kong Cyberport Management Company Limited (“Cyberport”),being a private limited company incorporated under the CompaniesOrdinance, is one of the three private and wholly-owned companiesset up by the Government of the HKSAR under the FinancialSecretary Incorporated to oversee the development, operation andmanagement of the Cyberport Project.香 港 數 碼 港 管 理 有 限 公 司 ( 以 下 簡 稱 「 數 碼 港 」) 乃 根 據 《 公 司 條 例 》 成 立 , 由 香 港 特別 行 政 區 政 府 以 財 政 司 司 長 法 團 名 義 全 資 擁 有 的 三 間 私 人 有 限 公 司 之 一 , 負 責 監 察數 碼 港 計 劃 的 發 展 、 營 運 及 管 理 。OUR COMMITMENTCyberport is committed to maintaining high standards ofcorporate governance as we believe that good corporategovernance provides the foundation for good corporateperformance and is essential to accomplishing our publicmissions, meeting the expectations of our stakeholders andattaining a long-term and sustainable growth. We havetherefore adopted accountability, transparency, fairnessand ethics as the cornerstones of our corporate governanceframework.我 們 的 承 諾98Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

CORPORATE GOVERNANCE STRUCTURE企 業 管 治 架 構SHAREHOLDER(HKSAR Government) 香 港 特 行 政 區 政 Board of DirectorsPerformanceReview PanelEntrepreneurshipCentreCommitteeExecutiveCommitteeRemunerationCommitteeAuditCommitteeExternalAuditorManagementInternal Audit(outsourced)THE BOARD OF DIRECTORSThe Board of Directors (“Board”) governs and leads theCompany in a responsible and effective manner. It establishesthe strategic direction of the Company and monitors itsperformance.Board CompositionAs of 31 March 2012, the Board consisted of thirteen BoardMembers (including two Government directors and elevennon-Government directors). All Board Members are appointedby the shareholders without receiving any honorarium for aspecific term and can be re-appointed upon expiry of theirterms of office.The Chief Executive Officer is appointed by the Board as aremunerated full-time employee of the Company. The rolesand responsibilities of the Chairman of the Board and theChief Executive Officer are separate enhancing independenceand accountability.Board Members come from varied but relevant backgroundwith diverse skills and experience. Eleven of them come fromvarious business fields, including IT, finance, property, legaland accounting. Biographical details of the Directors are setout in the section of “Board of Directors” on pages 22 to 31.董 事 局董 事 局 的 組 成20123311311112231Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報99

Sustainable Development 持 續 發 展Corporate Governance Report 企 業 管 治 報 告Board AppointmentBoard Members are given an induction programme after theirappointment. Board Members are aware of their collectiveand individual responsibilities in managing and monitoring theaffairs of the Company. They should act in good faith and inthe best interests of the Company.Board Members are required on their first appointment and asand when necessary thereafter to declare any interests that areor may be relevant and material to the business and operationsof the Company. They are also required to inform theCompany Secretary of any changes in the interests declaredby him/her or any new interests that may arise. A Register ofDirectors’ Interests is kept by the Company Secretary and willbe accessible by the Board Members.Board FunctionsThe Board is chaired by Mr Paul Chow and provides policy andstrategic guidance to HKCMCL on its business development, aswell as oversight over corporate performance and governance.During the year, the Board has convened five regular meetingsand one special meeting. Attendance records of individualmember are shown on page 104.Directors’ Responsibility for the AccountsThe Directors acknowledge their responsibilities for ensuringthat the preparation of the annual accounts of the Companyis in accordance with statutory requirements and applicableaccounting standards.BOARD COMMITTEES/PANELSUnder the Board, there are five Committees/Panels, namelyExecutive Committee, Audit Committee, RemunerationCommittee, Entrepreneurship Centre Committee andPerformance Review Panel. These Committees/Panels areaccountable to the Board for their recommendations anddecisions.委 任 董 事董 事 局 職 能51104董 事 對 賬 目 的 責 任董 事 局 轄 下 委 員 會 ╱ 事 務委 員 會5100Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Executive CommitteeThe Executive Committee (“Excom”) is responsible formonitoring the performance of the Company and ensuresthat the Company has been operating in consistence with thecorporate missions, and the budget/annual business plan asapproved by the Board.The Excom currently has six members and is chaired by MrPaul Chow. The Excom has convened six meetings during theyear. Attendance records of individual member are shown onpage 104.Audit CommitteeThe Audit Committee (“AC”) is established to overseeand review the effectiveness of the Company’s corporategovernance in financial reporting, internal control, riskmanagement, appointment and performance of the externalauditor and regulatory compliance.The AC currently has five members and is chaired by MrGeorge Hongchoy. The AC has convened three meetingsduring the year. Attendance records of individual member areshown on page 104.Remuneration CommitteeThe Remuneration Committee (“RC”) is established to makerecommendations to the Board on organizational structure andpolicies on staffing, remuneration, employment, disciplinaryand dismissal, with reference to the Company’s overall goalsand objectives.The RC currently has five members and is chaired by Mr LeeShing-see. The RC has convened two meetings during theyear. Attendance records of individual member are shown onpage 104.Entrepreneurship Centre Committee (ECC)The Entrepreneurship Centre Committee (“ECC”) isestablished to oversee the administration and management ofthe programmes implemented by the Entrepreneurship Centresuch as the incubation programme and the Cyberport CreativeMicro Fund.As of 31 March 2012, the ECC consisted of six members(including two Board representatives and four Managementrepresentatives) and was chaired by Mr Anthony Au. InJune 2012, Mr Au ceased to be Chairman of the ECC dueto his retirement. The ECC currently has seven members(including three Board representatives and four Managementrepresentatives) and is chaired by Mr Alfred Wong. The ECChas convened three meetings during the year. Attendancerecords of individual member are shown on page 104.執 行 委 員 會66104審 計 委 員 會53104薪 酬 委 員 會52104企 業 發 展 中 心 委 員 會201233164201267343104Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報101

Sustainable Development 持 續 發 展Corporate Governance Report 企 業 管 治 報 告Performance Review PanelThe Performance Review Panel (“PRP”) is established to reviewand discuss the performance of CEO, COO and the Company,with reference to the Board’s approved Key PerformanceIndicators and objectives.The PRP currently has five members and is chaired by Mr PaulChow. The PRP was set up in December 2011 and no meetingwas held during the year.MEETING PROCEDURESThe Board, Committees and Panel convene meetings ona regular basis. Special meetings will be held as and whennecessary.Management circulates papers prior to the respectivemeetings to provide adequate information for members in atimely manner to facilitate their deliberation of the issues anddecision making.The respective Board/Committee/Panel Secretaries recordthe major points of discussions, recommendations, decisionsand action items arising from the meetings. The outstandingmatters are followed up by the relevant departments andprogress updates are reported at the subsequent Board/Committee/Panel meetings.MANAGEMENT AND STAFFManagement and staff, led by the Company’s CEO, areresponsible for managing the Company’s day-to-dayoperations and implementing the strategies and directions asdetermined by the Board.Guidance on the ethical behavior of the Company hasbeen well defined in the Company’s Employee Code ofConduct and Business Ethics (“the Code”). From time totime, the Code will be reviewed and fine-tuned coveringprevention of bribery, conflict of interest, acceptance of giftsand advantages, handling of confidential information andpreservation of secrecy, intellectual property, and outsidebusinessor employment. ICAC is invited to give briefing onprevention of bribery and conflict of interest to the employeesof the Company on a regularly basis. Staff members are alsoreminded of the compliance with the Code from time to time.表 現 檢 討 事 務 委 員 會5201112會 議 程 序管 理 層 及 員 工102Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

INTERNAL CONTROL AND RISKMANAGEMENTThe Company aims to maintain a high standard of corporategovernance and enhance transparency and accountability.External AuditThe Company has appointed PricewaterhouseCoopers as theexternal auditor to conduct an audit of its financial statements.The external auditor plays an important role in reviewing thetruth and fairness of the financial statements. The externalauditor meets with Audit Committee to discuss the natureand scope of the audit prior to commencement of work ifnecessary and to report on findings. The external auditor alsoreports Internal control recommendations identified as part ofthe audit together with management responses, if any.Internal AuditThe Company has outsourced its internal audit function to anindependent professional advisory firm (Internal Auditor). TheAudit Committee directly oversees the work performed by theInternal Auditor.The Internal Auditor plays an important role in monitoringthe Company's internal governance and provides a basisfor the Board to assess the risk management and internalcontrol system maintained and operated by Management.Independent reviews of financial, business and functionaloperations and activities have been conducted with a focus onhigher risk areas of the Company. The internal audit plan isreviewed and agreed by the Audit Committee in advance. Ateach Audit Committee meeting, the Audit Committee reviewsthe results of the internal audit and evaluates the impact ofthe findings and the proposed management action plans.TRANSPARENCYThe Company reports annually to the Information Technologyand Broadcasting Panel of the Legislative Council regardingthe Cyberport Project, including the financial performance.To enhance transparency, the annual emoluments of theCompany’s five highest paid employees are disclosed underNote 8 to the financial statements on Page 133.The attendance of Members at the Board and CommitteesMeetings is reported on Page 104.內 部 監 控 及 風 險 管 理外 聘 核 數 師內 部 審 計透 明 度51338104Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報103

Sustainable Development 持 續 發 展Corporate Governance Report 企 業 管 治 報 告MEETING ATTENDANCE (1 APRIL 2011 TO 31 MARCH 2012)會 議 出 席 紀 錄 (2011 年 4 月 1 日 至 2012 年 3 月 31 日 )Types of meetingsBoard(Regular)Board(Special)ExcomACRCBoard members Mr Paul Chow 5/5 1/1 6/6 – – –Mr Anthony Au 5/5 1/1 5/6 – 2/2 3/3Mr Rock Chen (Retired from the Board on 4 June 2011)201164Mr Chia Kok-onn (Retired from the Board on 4 June 2011) 201164ECC1/1 – – – – –0/1 – – – – –Mr George Hongchoy 2/5 1/1 4/6 3/3 – –Mr Herman Hu 3/5 0/1 – 3/3 – –Mr Lee Shing-see 4/5 1/1 3/6 – 2/2 –Mr Peter Liu (Retired from the Board on 4 June 2011) 2011640/1 – – 0/1 – –Miss Winnie J Ng 4/5 0/1 – 2/3 – –Mr Douglas So (Appointed as director on 5 June 2011) 201165Miss Elizabeth Tse (including attendance by alternate) Mr Alfred Wong (Appointed as director on 1 March 2012) 2012314/4 0/1 – 2/2 – –4/5 1/1 6/6 – – –1/1 – – – – –Miss Wong Sau-ying 2/5 0/1 2/6 – 2/2 –Mr Peter Yan (Appointed as director on 5 June 2011)201165Mr Ying Yiu-hong (including attendance by alternate)2/4 0/1 – – 2/2 2/33/5 1/1 – – – –Remarks:Board – Board of DirectorsExcom – Executive CommitteeAC – Audit CommitteeRC – Remuneration CommitteeECC – Entrepreneurship Centre Committee104Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

FinancialReportContents財 務 報 告 目 錄106 Report of the Directors 109 Independent Auditor’s Report 111 Financial Statements 115 Notes to the Financial Statements

Report of the Directors董 事 局 報 告The directors submit their report together with the auditedfinancial statements for the year ended 31st March 2012.2012331Principal activitiesDetails of the principal activities of the Company are set out innote 1 to the financial statements.主 要 業 務1ResultsThe results of the Company for the year are set out in thestatement of comprehensive income on page 111.The directors do not recommend the payment of a finaldividend.業 績111Property, plant and equipmentDetails of the movement in property, plant and equipment ofthe Company are set out in note 13 to the financial statements.物 業 、 機 器 及 設 備13106Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Report of the Directors董 事 局 報 告DirectorsThe directors during the year and up to the date of this reportwere:董 事Paul CHOW Man-yiu (Chairman)George HONGCHOY Kwok-lungHerman HU Shao-mingLEE Shing-seeElizabeth TSE Man-yeeWONG Sau-yingDouglas SO Cheung-tak (appointed on 5th June 2011)201165Peter YAN King-shun (appointed on 5th June 2011)201165Alfred WONG Kwok-kuen (appointed on 1st March 2012)201231Rosanna CHOI Yi-tak (appointed on 5th June 2012)201265Gabriel PANG Tsz-kit (appointed on 5th June 2012)201265Jeny YEUNG Mei-chun (appointed on 5th June 2012)201265Rock CHEN Chung-nin (retired on 4th June 2011)201164CHIA Kok-onn (retired on 4th June 2011)201164Peter LIU Yun-kwan (retired on 4th June 2011)201164Anthony AU Wai-hung (retired on 4th June 2012)201264Winnie J NG (retired on 4th June 2012)201264YING Yiu-hong (resigned on 25th July 2012)2012725Stephen MAK Hung-sung(alternate director to Elizabeth TSE Man-yee, resigned on30th December 2011)Daniel LAI20111230(alternate director to Elizabeth TSE Man-yee, appointed on11th January 2012, and resigned on 25th July 2012; andappointed as a director on 25th July 2012)20121112012725Cathy CHU Man-ling (alternate director to YING Yiu-hong, resigned on 19th June 2012)2012619Ophelia TSANG Oi-lin(alternate director to YING Yiu-hong, appointed on19th June 2012, resigned on 25th July 2012)20126192012725Joey LAM Kam-ping (alternate director to Daniel Lai, appointed on 25th July 2012)Mable CHAN2012725(alternate director to Elizabeth TSE Man-yee, appointed on25th July 2012)2012725There being no provision in the Company’s Articles ofAssociation for retirement by rotation, all present directorscontinue in office.Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報107

Report of the Directors董 事 局 報 告Directors’ interests in contractsNo contracts of significance in relation to the Company’sbusiness to which the Company, its fellow subsidiaries or itsimmediate holding company was a party and in which adirector of the Company had a material interest, whetherdirectly or indirectly, subsisted at the end of the year or at anytime during the year.董 事 於 合 約 之 權 益At no time during the year was the Company, its fellowsubsidiaries or its immediate holding company a party to anyarrangements to enable the directors of the Company toacquire benefits by means of the acquisition of shares in, ordebentures of, the Company or any other body corporate.Management contractsSave for the management agreement of Le Meridien Cyberport,the facilities management agreement and the system operationcontract, no other contracts concerning the management andadministration of the whole or any substantial part of thebusiness of the Company were entered into or existed duringthe year.管 理 合 約AuditorThe financial statements have been audited byPricewaterhouseCoopers who retire and, being eligible, offerthemselves for re-appointment.核 數 師By order of the BoardChairmanHong Kong, 28th September 20122012928108Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Independent Auditor’s Report獨 立 核 數 師 報 告TO THE SHAREHOLDERS OF HONG KONG CYBERPORTMANAGEMENT COMPANY LIMITED(incorporated in Hong Kong with limited liability)We have audited the financial statements of Hong KongCyberport Management Company Limited (the “Company”) setout on pages 111 to 144, which comprise the balance sheet asat 31st March 2012, and the statement of comprehensiveincome, statement of changes in equity and statement of cashflows for the year then ended, and a summary of significantaccounting policies and other explanatory information.致 香 港 數 碼 港 管 理 有 限 公 司 股 東1111442012331Directors’ Responsibility for the FinancialStatementsThe directors are responsible for the preparation of financialstatements that give a true and fair view in accordance withHong Kong Financial Reporting Standards issued by the HongKong Institute of Certified Public Accountants, and the HongKong Companies Ordinance, and for such internal control asthe directors determine is necessary to enable the preparationof financial statements that are free from materialmisstatement, whether due to fraud or error.董 事 就 財 務 報 表 須 承 擔 的 責 任Auditor’s ResponsibilityOur responsibility is to express an opinion on these financialstatements based on our audit and to report our opinion solelyto you, as a body, in accordance with section 141 of the HongKong Companies Ordinance and for no other purpose. We donot assume responsibility towards or accept liability to any otherperson for the contents of this report.核 數 師 的 責 任141We conducted our audit in accordance with Hong KongStandards on Auditing issued by the Hong Kong Institute ofCertified Public Accountants. Those standards require that wecomply with ethical requirements and plan and perform theaudit to obtain reasonable assurance about whether thefinancial statements are free from material misstatement.’Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報109

Independent Auditor’s Report獨 立 核 數 師 報 告Auditor’s Responsibility (Continued)An audit involves performing procedures to obtain auditevidence about the amounts and disclosures in the financialstatements. The procedures selected depend on the auditor’sjudgement, including the assessment of the risks of materialmisstatement of the financial statements, whether due to fraudor error. In making those risk assessments, the auditor considersinternal control relevant to the entity’s preparation of financialstatements that give a true and fair view in order to designaudit procedures that are appropriate in the circumstances, butnot for the purpose of expressing an opinion on theeffectiveness of the entity’s internal control. An audit alsoincludes evaluating the appropriateness of accounting policiesused and the reasonableness of accounting estimates made bythe directors, as well as evaluating the overall presentation ofthe financial statements.核 數 師 的 責 任 We believe that the audit evidence we have obtained issufficient and appropriate to provide a basis for our auditopinion.OpinionIn our opinion, the financial statements give a true and fair viewof the state of the Company’s affairs as at 31st March 2012,and of its loss and cash flows for the year then ended inaccordance with Hong Kong Financial Reporting Standards andhave been properly prepared in accordance with the HongKong Companies Ordinance.意 見2012331PricewaterhouseCoopersCertified Public AccountantsHong Kong, 28th September 2012羅 兵 咸 永 道 會 計 師 事 務 所2012928110Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Statement of Comprehensive Income全 面 收 益 表For the year ended 31st March 2012 20123312012 2011Note HK$ HK$ 港 元 Revenue 5 386,350,746 359,198,042Other income 5 28,322,561 38,280,587414,673,307 397,478,629Building management expenses 121,889,427 120,961,590Staff costs 6 86,907,181 74,449,226Information technology facilitiesmaintenance fee23,014,667 22,314,130Government rent and rates 9 10,779,479 11,082,781Other operating expenses 10 95,851,643 88,058,576Operating expenses beforedepreciation338,442,397 316,866,303Operating profit before depreciation 76,230,910 80,612,326Depreciation 13 (210,763,637) (208,654,504)Income tax expense 11 — —Loss and total comprehensive lossfor the year年 內 虧 損 及 全 面 虧 損總 額 12 (134,532,727) (128,042,178)Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報111

Balance Sheet資 產 負 債 表As at 31st March 2012 2012331ASSETS資 產2012 2011Note HK$ HK$ 港 元 Non-current assets非 流 動 資 產Property, plant and equipment 13 3,447,980,108 3,633,595,866Deferred rental receivable 6,250,265 13,352,423Held-to-maturity investments 14 275,283,521 202,904,6313,729,513,894 3,849,852,920Current assets流 動 資 產Inventories, at cost 533,768 677,916Trade and other receivables 15 24,763,670 23,066,195Amounts due from fellowsubsidiaries16 1,938,579 1,291,839Held-to-maturity investments 14 179,713,926 305,208,290Designated bank balance 17 — 142,948,186Cash and bank balances 18 547,917,578 333,245,948754,867,521 806,438,374LIABILITIES負 債Current liabilities流 動 負 債Trade and other payables 19 66,979,642 53,830,058Rental and other deposits 57,501,078 54,075,187Amount due to immediateholding company16 254,278,206 254,296,050378,758,926 362,201,295Net current assets 流 動 資 產 淨 額 376,108,595 444,237,079Total assets less current liabilities 總 資 產 減 流 動 負 債 4,105,622,489 4,294,089,999EQUITYCapital and reservesattributable to theCompany’s equity holders權 益本 公 司 權 益 持 有 人應 佔 資 本 及 儲 備Share capital 20 2 2Capital reserve 21 5,261,848,390 5,261,848,390Accumulated losses (1,663,988,204) (1,529,455,477)Total equity 權 益 總 額 3,597,860,188 3,732,392,915Non-current liabilities非 流 動 負 債Development maintenance fund 17 451,000,000 500,000,000Facilities maintenance fund 22 50,000,000 50,000,000Deferred income 23 6,762,301 11,697,084507,762,301 561,697,0844,105,622,489 4,294,089,999On behalf of the BoardDirectorDirector112Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Statement of Changes in Equity權 益 變 動 表For the year ended 31st March 2012 2012331SharecapitalCapitalreserveAccumulatedlossesTotal股 本 資 本 儲 備 累 計 虧 損 權 益 總 額HK$ HK$ HK$ HK$ Balance at 1st April 2010 2010 年 4 月 1 日 結 餘 2 5,261,848,390 (1,401,413,299) 3,860,435,093Loss and total comprehensiveloss for the yearBalance at 31st March2011/1st April 2011 — — (128,042,178) (128,042,178)2011 年 3 月 31 日 ╱2011 年 4 月 1 日 結 餘 2 5,261,848,390 (1,529,455,477) 3,732,392,915Loss and total comprehensiveloss for the year — — (134,532,727) (134,532,727)Balance at 31st March 2012 2012 年 3 月 31 日 結 餘 2 5,261,848,390 (1,663,988,204) 3,597,860,188Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報113

Statement of Cash Flows現 金 流 量 表For the year ended 31st March 2012 20123312012 2011Note HK$ HK$ 港 元 Cash flows from operatingactivities經 營 業 務 之 現 金 流 量Net cash generated from operations 24 73,944,113 47,971,174Cash flows from investing 投 資 活 動 之 現 金 流 量activitiesPurchase of property, plant and equipment(25,147,879) (13,426,154)Proceeds from disposal of property,plant and equipment — 113,590Purchase of held-to-maturityinvestments(258,287,562) (122,034,573)Redemption of held-to-maturityinvestments304,000,000 23,000,000Decrease in designated bank balance 142,948,186 84,200,428Increase in bank deposits longerthan three months (282,092,022) (21,139,623)Interest income from held-tomaturityinvestments received 15,341,087 14,501,970Interest income on designatedbank balance received 1,216,243 332,676Interest income on bank depositsreceived1,243,320 459,521Net cash used in investing activities (100,778,627) (33,992,165)Cash flows from financingactivities財 務 活 動 之 現 金 流 量Decrease in amount due toimmediate holding companyGovernment grants and sponsorshipreceived, netPayment on settlement ofdevelopment maintenance fundNet cash (used in)/generated fromfinancing activitiesNet (decrease)/increase in cashand cash equivalents (17,844) (7,518) 23 8,431,966 9,571,19517 (49,000,000) — (40,585,878) 9,563,677現 金 及 現 金 等 值 項 目( 減 少 )╱ 增 加 淨 額 (67,420,392) 23,542,686Cash and cash equivalents at thebeginning of the yearCash and cash equivalents atthe end of the year年 初 之 現 金 及 現 金 等 值 項 目年 終 之 現 金 及 現 金 等 值 項 目214,298,990 190,756,30418 146,878,598 214,298,990114Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註1 General informationThe principal activity of Hong Kong CyberportManagement Company Limited (the “Company”) is tosupport and promote innovation and technologydevelopment in Hong Kong through the creation of astrategic cluster of information and communicationstechnology (ICT) based companies as well as encouragingthe building of a critical mass of professional talent in theterritory. With a vision to establish itself as a leading ICThub in the Asia-Pacific region, Cyberport is committed tofacilitating the local economy by nurturing ICT industrystart-ups and entrepreneurs, driving collaboration to poolresources and create business opportunities, andaccelerating ICT adoption through strategic initiatives andpartnerships.1 公 司 資 料In order to fulfill the vision, the Company established fivecentres namely “Technology Centre” (formerly known as“Digital Media Centre (“DMC”)”), “EntrepreneurshipCentre” (formerly known as “Incubation-cum-trainingCentre (“IncuTrain”)”), “Collaboration Centre”,“Knowledge Centre” and “Campus DevelopmentCentre” (the five centres collaterally named “OperatingCentres”).The Company is a limited liability company incorporatedin Hong Kong. The address of its registered office is Units1102–1104, Level 11, Cyberport 2, 100 Cyberport Road,Hong Kong.100111102–1104The Company is wholly owned by the Government of theHong Kong Special Administrative Region (“HKSAR”) viaFinancial Secretary Incorporated.These financial statements are presented in Hong Kongdollars, unless otherwise stated. These financialstatements have been approved for issue by the board ofdirectors on 28th September 2012.2012928Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報115

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpoliciesThe significant accounting policies applied in thepreparation of the financial statements are set out below.These policies have been consistently applied to all theyears presented, unless otherwise stated.(a) Basis of preparationThe financial statements of the Company have beenprepared in accordance with Hong Kong FinancialReporting Standards (“HKFRS”). The financialstatements have been prepared under the historicalcost convention.The preparation of financial statements inconformity with HKFRS requires the use of certaincritical accounting estimates. It also requiresmanagement to exercise its judgement in theprocess of applying the Company’s accountingpolicies. The areas involving a higher degree ofjudgement or complexity, or areas whereassumptions and estimates are significant to thefinancial statements are disclosed in note 4.(b) Adoption of new/revised HKFRSs(i)New and revised standards andamendments effective for the year ended31st March 2012During the year, the Company has adoptedthe new and revised standards andamendments of HKFRSs which are effectivefor the year ended 31st March 2012 and arerelevant to its operations. The Company hasassessed the impact of the adoption of thesenew and revised standards and amendmentsand considered that there has been nosignificant impact on the Company’s resultsand financial position nor any substantialchanges in the Company’s accountingpolicies.2 主 要 會 計 政 策 概 要(a) 編 製 基 準 4(b) 採 納 新 訂 ╱ 經 修 訂 香 港 財 務報 告 準 則(i) 截 至 2012 年 3 月 31 日 止 年度 生 效 之 新 訂 及 經 修 訂 的 準則 2012331 116Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpolicies (Continued)(b) Adoption of new/revised HKFRSs(Continued)(ii) Standards, interpretations, amendmentsand improvements to existing standardsthat are not yet effective for the yearended 31st March 2012The HKICPA has issued the following new orrevised HKFRSs standards, interpretations,amendments or improvements to existingstandards which are not yet effective for theyear ended 31st March 2012 and have notbeen early adopted by the Company:2 主 要 會 計 政 策 概 要 (b) 採 納 新 訂 ╱ 經 修 訂 香 港 財 務報 告 準 則 (ii) 截 至 2012 年 3 月 31 日 止 年度 尚 未 生 效 之 準 則 、 詮 釋 、準 則 修 訂 及 準 則 之 改 進 2012331Effective foraccountingperiodsbeginning onNew or revised standards, interpretations and amendmentsor after於 下 列 日 期 或之 後 開 始 的新 訂 或 經 修 訂 準 則 、 詮 釋 及 修 訂年 度 生 效HKFRS 7Amendment Financial Instruments:1st July 2011Disclosures — Transfer of Financial Assets 7 — 201171HKAS 12 Amendment Deferred Tax: Recovery of Underlying Assets 1st January 2012 12 201211HKAS 1 Amendment Presentation of Financial Statements 1st July 2012 1 201271HKAS 19 Amendment Employee Benefits 1st January 2013 19 201311HKFRS 7Amendments Financial Instruments:1st January 2013Disclosures — Offsetting financial assets andfinancial liabilities 7 — 201311HKFRS 13 Fair Value Measurement 1st January 2013 13 201311HKAS 32Amendments Financial Instruments: Presentation: 1st January 2014Offsetting financial assets and financial liabilities 32 201411HKFRS 7 Amendments Financial Instruments: Disclosures 1st January 2015 7 201511HKFRS 9 Transition Disclosures and Financial Instruments 1st January 2015 9 201511The Company is in the process of making anassessment of the impact of these newstandards, interpretations, amendments andimprovements to standards and is not yet in aposition to state whether they would have asignificant impact on the Company’s resultsand financial position.Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報117

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpolicies (Continued)2 主 要 會 計 政 策 概 要 (c)Property, plant and equipmentProperty, plant and equipment are stated athistorical cost less accumulated depreciation andimpairment losses. Historical cost includesexpenditure that is directly attributable to theacquisition of the items.(c)物 業 、 機 器 及 設 備Subsequent costs are included in the asset’s carryingamount or recognised as a separate asset, asappropriate, only when it is probable that futureeconomic benefits associated with the item willflow to the Company and the cost of the item canbe measured reliably. All other repairs andmaintenance are expensed in the statement ofcomprehensive income during the financial periodin which they are incurred.Depreciation of property, plant and equipment iscalculated using the straight-line method to allocatetheir cost to their residual values over theirestimated useful lives. The principal annual rates inuse are as follows: BuildingsOver the periodof the lease樓 宇按 租 約 年 期Building services and support facilities 10% 10%Information technology facilities 20% 20%Operating Centres equipment 20%–33 1 / 3 % 20%–33 1 / 3 %Leasehold improvements 10% 10%Furniture and equipment 10%–20% 10%–20%Motor vehicles 20% 20%The assets’ residual values and useful lives arereviewed, and adjusted if appropriate, at eachbalance sheet date.An asset’s carrying amount is written downimmediately to its recoverable amount if the asset’scarrying amount is greater than its estimatedrecoverable amount (note 2(e)).The gain or loss on disposal of property, plant andequipment is the difference between the net salesproceeds and the carrying amount of the relevantasset, and is recognised in the statement ofcomprehensive income.2(e)118Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpolicies (Continued)(d) Held-to-maturity investmentsHeld-to-maturity investments are non-derivativefinancial assets with fixed or determinable paymentsand fixed maturities that the Company’smanagement has the positive intention and abilityto hold to maturity. They are included in noncurrentassets, except for those with maturities lessthan 12 months from the balance sheet date, whichare classified as current assets.Held-to-maturity investments are stated in thebalance sheet at cost plus/less any discount/premium amortised to date. The discount orpremium is amortised over the period to maturityand included as interest income/expense in thestatement of comprehensive income. Provision ismade when there is a diminution in value otherthan temporary.2 主 要 會 計 政 策 概 要 (d) 持 有 至 到 期 日 投 資12 The carrying amounts of individual held-to-maturityinvestments or holdings of the same investmentsare reviewed at the balance sheet date in order toassess the credit risk and whether the carryingamounts are expected to be recovered. Provisionsare made when carrying amounts are not expectedto be recovered and are recognised in the statementof comprehensive income as expense immediately.(e) Impairment of assetsAssets that have an indefinite useful life are notsubject to depreciation/amortisation and are testedannually for impairment. Assets are reviewed forimpairment whenever events or changes incircumstances indicate that the carrying amountmay not be recoverable. An impairment loss isrecognised for the amount by which the asset’scarrying amount exceeds its recoverable amount.The recoverable amount is the higher of an asset’sfair value less costs to sell and value in use. For thepurposes of assessing impairment, assets aregrouped at the lowest levels for which there areseparately identifiable cash flows (cash-generatingunits). Non-financial assets other than goodwill thatsuffered an impairment are reviewed for possiblereversal of the impairment at each reporting date.(e) 資 產 減 值 Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報119

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpolicies (Continued)2 主 要 會 計 政 策 概 要 (f)Government grant or sponsorshipA government grant or sponsorship is recognised atfair value when there is reasonable assurance thatthe Company will comply with the conditionsattaching with it and that the grant will be received.(f)政 府 補 助 金 或 資 助Government grants and sponsorships relating toincome are deferred and recognised in thestatement of comprehensive income over the periodnecessary to match them with the costs they areintended to compensate.Government grants and sponsorships relating to thepurchase of property, plant and equipment arecredited to the statement of comprehensive incomeon a straight-line basis over the expected lives ofthe related assets.(g) InventoriesInventories, comprising food, beverage andoperating supplies, are stated at the lower of costand net realisable value. Costs are calculated usingthe weighted average costing method. Netrealisable value is determined on the basis ofanticipated sales proceeds less estimated sellingexpenses.(h) Trade and other receivablesTrade and other receivable are recognised initially atfair value and subsequently measured at amortisedcost using the effective interest method, lessprovision for impairment. A provision forimpairment of trade and other receivables isestablished when there is objective evidence thatthe Company will not be able to collect all amountsdue according to the original terms of receivables.The amount of the provision is the differencebetween the asset’s carrying amount and thepresent value of estimated future cash flows,discounted at the effective interest rate. Theamount of the provision is recognised in thestatement of comprehensive income.(g) 存 貨 (h) 應 收 賬 款 及 其 他 應 收 款 項 120Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpolicies (Continued)2 主 要 會 計 政 策 概 要 (i)Cash and cash equivalentsCash and cash equivalents comprise cash in hand,deposits held at call with banks, investments with amaturity of three months or less from the date ofinvestment.(i)現 金 及 現 金 等 值 項 目(j)Trade and other payablesTrade and other payables are recognised initially atfair value and subsequently measured at amortisedcost using effective interest method.(j)應 付 賬 款 及 其 他 應 付 款 項(k) ProvisionsProvisions are recognised when the Company has apresent legal or constructive obligation as a resultof past events; it is probable that an outflow ofresources will be required to settle the obligation;and the amount has been reliably estimated.Provisions are not recognised for future operatinglosses.Where there are a number of similar obligations,the likelihood that an outflow will be required insettlement is determined by considering the class ofobligations as a whole. A provision is recognisedeven if the likelihood of an outflow with respect toany one item included in the same class ofobligations may be small.(k) 撥 備 (l)Employee benefits(i) Employee leave entitlementsEmployee entitlements to annual leave andlong service leave are recognised when theyaccrue to employees. A provision is made forthe estimated liability for annual leave andlong service leave as a result of servicesrendered by employees up to the balancesheet date.(l)僱 員 福 利(i) 僱 員 可 享 年 假Employee entitlements to sick leave andmaternity leave are not recognised until thetime of leave.Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報121

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpolicies (Continued)2 主 要 會 計 政 策 概 要 (l)Employee benefits (Continued)(ii) Retirement scheme obligationsThe Company operates a defined contributionretirement scheme, the Mandatory ProvidentFund, and pays contributions to a publiclyadministered retirement benefit plan on amandatory basis. The Company has no furtherpayment obligations once the contributionshave been paid. The contributions arerecognised as employee benefit expensewhen they are due and are reduced bycontributions forfeited by those employeeswho leave the scheme prior to vesting fully inthe contributions. Prepaid contributions arerecognised as an asset to the extent that acash refund or a reduction in the futurepayments is available.(l)僱 員 福 利 (ii) 退 休 計 劃 責 任 (iii) Bonus entitlementsThe expected cost of bonus payments arerecognised as a liability when the Companyhas a present legal or constructive obligationas a result of services rendered by employeesand a reliable estimate of the obligation canbe made.(iii) 獲 得 花 紅 的 權 利Liabilities for bonus plans are expected to besettled within 12 months and are measured atthe amounts expected to be paid when theyare settled.12(m) Current and deferred income taxThe current income tax charge is calculated on thebasis of the tax laws enacted or substantivelyenacted at the balance sheet date in the countrywhere the Company operates and generates taxableincome. Management periodically evaluatespositions taken in the tax returns with respect tosituations in which applicable tax regulation issubject to interpretation and establishes provisionswhere appropriate on the basis of amountsexpected to be paid to the tax authorities.Deferred income tax is recognised, using the liabilitymethod, on temporary differences arising betweenthe tax bases of assets and liabilities and theircarrying amounts in the financial statements.(m) 本 年 及 遞 延 所 得 稅122Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpolicies (Continued)(m) Current and deferred income tax(Continued)Deferred income tax is determined using tax ratesthat have been enacted or substantively enacted bythe balance sheet date and are expected to applywhen the related deferred income tax asset isrealised or the deferred income tax liability issettled.2 主 要 會 計 政 策 概 要 (m) 本 年 及 遞 延 所 得 稅 Deferred income tax assets are recognised to theextent that it is probable that future taxable profitwill be available against which the temporarydifferences can be utilised.(n) Revenue and other income recognitionRevenue and other income comprise the fair valueof the consideration received or receivable for thesale of services in the ordinary course of theCompany’s activities. Revenue and other incomeare recognised as follows:(n) 收 入 與 其 他 收 入 確 認(i)Rental income is recognised on a straight-linebasis over the terms of the lease.(i)(ii)Management fee income is recognised whenthe services are rendered.(ii)(iii)Income from hotel operation is recognisedupon provision of services.(iii)(iv)Car park fee and information technologyfacilities income are recognised when theservices are rendered and the facilities areutilised.(iv) (v)Income from leasing of centre facilities isrecognised when the facilities are utilised.(v)(vi)Other incidental income and services incomeare recognised when the Company is entitledto the income and the services are rendered.(vi)(vii) Interest income is recognised on a timeproportion basis, using the effective interestmethod.(vii)Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報123

Notes to the Financial Statements財 務 報 表 附 註2 Summary of significant accountingpolicies (Continued)(o) Operating leaseLeases in which a significant portion of the risks andrewards of ownership are retained by the lessor areclassified as operating leases. Payments made underoperating leases, net of any incentives receivedfrom the lessor, are charged to the statement ofcomprehensive income on a straight-line basis overthe period of the lease.(p) Foreign currency translation(i) Functional and presentation currencyItems included in the financial statements ofthe Company are measured using thecurrency of the primary economicenvironment in which the Company operates(the “functional currency”). The financialstatements are presented in Hong Kongdollar, which is the Company’s functional andpresentation currency.2 主 要 會 計 政 策 概 要 (o) 經 營 租 賃(p) 外 幣 換 算(i) 功 能 及 呈 列 貨 幣(ii)Transactions and balancesForeign currency transactions are translatedinto the functional currency using theexchange rates prevailing at the dates of thetransactions. Foreign exchange gains andlosses resulting from the settlement of suchtransactions and from the translation at yearendexchange rates of monetary assets andliabilities denominated in foreign currenciesare recognised in the statement ofcomprehensive income.(ii)交 易 及 結 餘(q) Contingent liabilitiesA contingent liability is a possible obligation thatarises from past events and whose existence willonly be confirmed by the occurrence or nonoccurrenceof one or more uncertain future eventsnot wholly within the control of the Company. Itcan also be a present obligation arising from pastevents that is not recognised because it is notprobable that outflow of economic resources willbe required or the amount of obligation cannot bemeasured reliably.A contingent liability is not recognised but isdisclosed in the notes to the financial statements.When a change in the probability of an outflowoccurs so that outflow is probable, they will then berecognised as a provision.(q) 或 然 負 債124Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註3 Financial risk management(a) Financial risk factorsThe Company’s activities expose it to a variety offinancial risks: interest rate risk, credit risk andliquidity risk. The Company’s overall riskmanagement programme focuses on theunpredictability of financial markets and seeks tominimise potential adverse effects of these risks onthe Company’s financial performance.Risk management is carried out by the Company’smanagement under policies approved by the Board.The Company’s management identifies, evaluatesand manages significant financial risks in theCompany’s business units. The Board providesguidance for overall risk management.3 財 務 風 險 管 理(a) 財 務 風 險 因 素(i)Interest rate riskInterest rate risk is the risk that changes inmarket interest rates will impact the earningsof the Company. The Company’s majorinterest-bearing assets comprise bank depositsand held-to-maturity investments (collectively“interest bearing assets”) and are primarilyissued at fixed rates which therefore do notexpose the Company to cash flow interestrate risk.(i)利 率 風 險 The Company has no significant borrowingsother than the non interest-bearing advancefrom its immediate holding company.(ii)Credit riskCredit risk arises from the potential failure ofthe Company’s counterparties to meet theirobligations under financial contracts. TheCompany is exposed to credit risk on cashand bank balances, designated bank balance,held-to-maturity investments, as well as tradeand other receivables and amounts due fromfellow subsidiaries.(ii)信 貸 風 險The Company’s bank deposits are depositedwith banks of high credit quality in HongKong.Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報125

Notes to the Financial Statements財 務 報 表 附 註3 Financial risk management (Continued)(a) Financial risk factors (Continued)(ii) Credit risk (Continued)For held-to-maturity investments, theCompany adopts a prudent policy to invest insecurities only with very strong investmentgradecredit ratings and limit exposure to anysingle investment. The exposures to thesecredit risks are monitored on an ongoingbasis.For rent receivable from tenants, credit checksare part of the normal leasing process andstringent monitoring procedures are in placeto deal with overdue debts. In addition, theCompany reviews the recoverable amount ofeach individual outstanding at each balancesheet date to ensure that adequate provisionfor impairment losses is made forirrecoverable amounts. The Companynormally receives rents in advance fromtenants on a monthly basis and also haspolicies in place to obtain rental deposits orbank guarantees from tenants prior tocommencement of leases.For other trade receivables and amounts duefrom fellow subsidiaries, a credit policy is inplace and the exposure to these credit risksare monitored on an ongoing basis. Creditevaluations are performed on all customersrequiring credit over a certain amount. Thesereceivables are due ranging from 30 to 60days from the date of billing. Debtors withbalances that are more than 60 days overdueare generally required to settle all outstandingbalances before any further credit is granted.Normally, the Company does not obtaincollateral from customers and the utilisationof credit limits is regularly monitored.The Company has no significantconcentrations of credit risk.3 財 務 風 險 管 理 (a) 財 務 風 險 因 素 (ii) 信 貸 風 險 3060 60 126Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註3 Financial risk management (Continued)(a) Financial risk factors (Continued)(iii) Liquidity riskLiquidity risk is the risk that the Company isunable to meet its current obligations whenthey fall due. Prudent liquidity riskmanagement includes maintaining sufficientcash and the availability of funding throughoperating cash flows and advance fromimmediate holding company.The Company’s policy is to regularly monitorits current and expected liquidity requirementsto ensure that it maintains sufficient reservesof cash to meet its liquidity requirements inthe short and longer term.The table below analyses the Company’sfinancial liabilities into relevant maturitygroupings based on the remaining period atthe balance sheet to the contractual maturitydate. The amounts disclosed in the table arethe contractual undiscounted cash flows.Balances due within 12 months equal theircarrying balances, as the impact ofdiscounting is not significant.3 財 務 風 險 管 理 (a) 財 務 風 險 因 素 (iii) 流 動 資 金 風 險 12Less than1 yearBetween 1and 2 yearsMore than2 years一 年 以 下 一 至 兩 年 兩 年 以 上HK$ HK$ HK$ At 31st March 20122012 年 3 月 31 日Trade and other payables 66,979,642 — —Rental and other deposits 30,234,240 11,798,501 15,468,337Amount due to immediateholding company 254,278,206 — —At 31st March 20112011 年 3 月 31 日Trade and other payables 53,830,058 — —Rental and other deposits 14,064,522 20,662,879 19,347,786Amount due to immediateholding company 254,296,050 — —Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報127

Notes to the Financial Statements財 務 報 表 附 註3 Financial risk management (Continued)(b) Capital risk managementThe Company’s objectives when managing capitalare to safeguard the Company’s ability to continueas a going concern in order to provide returns forshareholders and benefits for other stakeholdersand to maintain an optimal capital structure toreduce the cost of capital. The Company’s strategyremains unchanged for the year ended 31st March2012.3 財 務 風 險 管 理 (b) 資 本 風 險 管 理2012331Management reviews the capital structureperiodically and manages its overall capital structureif necessary. As at 31st March 2012 and 2011, theCompany was in net cash position.The carrying value less impairment provision oftrade and other receivables and payables, balanceswith group companies are a reasonableapproximation of their fair values. The fair value offinancial liabilities for disclosure purposes isestimated by discounting the future contractualcash flows at the current market interest rate that isavailable to the Company for similar financialinstruments. 201220113314 Critical accounting estimates andjudgementsEstimates and judgements are continually evaluated andare based on historical experience and other factors,including expectations of future events that are believedto be reasonable under the circumstances.4 關 鍵 會 計 估 計 及 判 斷The Company makes estimates and assumptionsconcerning the future. The resulting accounting estimateswill, by definition, seldom equal the related actual results.The estimates and assumptions that have a significanteffect on the carrying amounts of assets and liabilities arediscussed below:(a) Impairment of the non-financial assetsThe Company performs review for impairment ofnon-financial assets whenever events or changes incircumstances indicate that the carrying amount ofthe assets may not be recoverable.(a) 非 金 融 資 產 之 減 值128Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註4 Critical accounting estimates andjudgements (Continued)(a) Impairment of the non-financial assets(Continued)The Company reviews certain indicators of potentialimpairment such as reported sale and purchaseprices, market demand and general marketconditions. The Company considers the CyberportPortion (comprising Cyberport 1, Cyberport 2,Cyberport 3, Cyberport 4, the Arcade and the Hotelbut excluding Information Technology facilities) as aportfolio of asset and identifies the cash-generatingunit to which the portfolio of asset belongsreferring to the valuation performed by externalvaluers.4 關 鍵 會 計 估 計 及 判 斷 (a) 非 金 融 資 產 之 減 值 Based on the Company’s best estimates, noprovision for impairment loss on the non-financialassets including the Cyberport Portion is necessary.(b) Held-to-maturity investmentsThe Company follows the guidance of HKAS 39 onclassifying non-derivative financial assets with fixedor determinable payments and fixed maturity asheld-to-maturity. This classification requiressignificant judgement. In making this judgement,the Company evaluates its intention and ability tohold such investments to maturity. If the Companyfails to keep these investments to maturity otherthan for the specific circumstances — for example,selling an insignificant amount close to maturity —it will be required to reclassify the entire class asavailable-for-sale. The investments would, therefore,be measured at fair value not at amortised cost.(b) 持 有 至 到 期 日 投 資39 (c)Impairment of trade and otherreceivablesManagement determines the provision forimpairment of trade and other receivables based onthe credit history or the financial position of itscustomers and the current market condition.Management will assess the adequacy of provisionfor impairment of trade and other receivables ateach balance sheet date and significant level ofjudgement is required in determining the adequacyof such provision.(c)應 收 賬 款 及 其 他 應 收 款 項 之減 值 Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報129

Notes to the Financial Statements財 務 報 表 附 註4 Critical accounting estimates andjudgements (Continued)(d) Income taxesThe Company is subject to income taxes in HongKong. Significant judgement is required indetermining the provision for income taxes. Thereare many transactions and calculations for whichthe ultimate tax determination is uncertain duringthe ordinary course of business.4 關 鍵 會 計 估 計 及 判 斷 (d) 所 得 稅The Company recognises liabilities for anticipatedtax issues based on estimates of whether additionaltaxes will be due. Where the final tax outcome ofthese matters is different from the amounts thatwere initially recorded, such differences will impactthe income tax and deferred tax provisions in theyear in which such determination is made.Recognition of deferred tax asset, which principallyrelates to tax losses of the Company, depends onthe management’s expectation of future taxableprofit that will be available against which the taxlosses can be utilised. The outcome of their actualutilisation may be different.130Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註5 Revenue and other incomeRevenue and other income recognised during the year areas follows:5 收 入 與 其 他 收 入2012 2011HK$HK$港 元RevenueRental income 156,642,796 155,484,271Building management income Management fee income 75,214,861 71,759,487Car park fee income 7,770,475 6,688,058Other facilities income 17,275,603 15,596,423100,260,939 94,043,968Income from hotel operation 120,429,597 100,715,161Information technologyfacilities income3,709,063 3,242,756Fees for usage of TechnologyCentre equipment and services 3,272,332 4,395,457Other incidental income 2,036,019 1,316,429386,350,746 359,198,042Other incomeRealisation of deferred income(note 23)23 13,366,749 15,751,331Hotel’s Gross Operating Profitperformance guarantee income(note i)i — 8,000,000Services income from fellowsubsidiaries (note ii)ii 4,201,654 4,201,654Interest income from held-to-maturityinvestments, net of amortisationof premium of HK$6,199,974(2011: HK$5,743,948)6,199,97420115,743,948 7,266,212 8,467,957Interest income on designatedbank balance1,691,275 1,007,228Interest income on bank deposits 1,796,671 778,800Gain on disposal of property, plantand equipment, net — 73,61728,322,561 38,280,587Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報131

Notes to the Financial Statements財 務 報 表 附 註5 Revenues and other income (Continued)Note:5 收 入 與 其 他 收 入 (i)The Hotel’s Gross Operating Profit performance guarantee incomerepresents a lump sum compensation on removal of some terms inthe Management Agreement with Meridien SAS.(i)Meridien SAS(ii) Pursuant to the services agreement dated 25th October 2003entered into between the Company and Hong Kong Cyberport(Ancillary Development) Limited (“HKCAD”), its fellow subsidiary,a fixed monthly services income of HK$125,600 was received fromHKCAD commencing from November 2003 for the provision ofservices by the Company to facilitate the operation of theResidential Portion of the Cyberport. The fee was revised toHK$200,000 commencing from April 2006 and to HK$261,000commencing from May 2008. Total amount received during theyear was HK$3,132,000 (2011: HK$3,132,000).(ii)20031025 HKCAD200311HKCAD 125,600 20064 20085200,000261,0003,132,00020113,132,000Pursuant to the services agreement dated 12th March 2005entered into between the Company and Skillful Limited, its fellowsubsidiary, a monthly services income was received for theprovision of information technology and telecommunicationsservices to the Residential Portion of the Cyberport. Total amountreceived during the year was HK$1,069,654 (2011:HK$1,069,654).2005312Skillful Limited1,069,65420111,069,6546 Staff costs6 員 工 成 本2012 2011HK$HK$港 元Salaries and allowances 82,640,561 70,658,225Unutilised annual leave 1,821,296 1,694,652Contributions to MandatoryProvident Fund2,445,324 2,096,34986,907,181 74,449,226Analysed into:2012 2011HK$HK$港 元Hotel 50,488,840 43,788,216Operating Centres 9,443,651 7,359,408Corporate office 26,974,690 23,301,60286,907,181 74,449,226132Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註7 Directors’ remunerationThe Directors, who represent key management personnelof the Company, having authority and responsibility forplanning, directing and controlling the activities of theCompany, did not receive or will not receive any fees oremoluments in respect of their services to the Companyduring the year (2011: Nil).7 董 事 酬 金20118 Five highest paid individualsThe emoluments payable to the five individuals whoseemoluments were the highest in the Company during theyear are as follows:8 五 位 薪 酬 最 高 之 人 士2012 2011HK$HK$港 元Salaries and allowances 10,027,356 9,414,786Contributions to MandatoryProvident Fund60,000 60,00010,087,356 9,474,786The emoluments fell within the followings bands:2012 2011HK$1,000,001 to HK$1,500,000HK$1,500,001 to HK$2,000,000HK$2,000,001 to HK$2,500,000HK$2,500,001 to HK$3,000,0001,000,0011,500,000 — 31,500,0012,000,000 3 —2,000,0012,500,000 1 12,500,0013,000,000 1 15 59 Government rent and rates9 地 租 及 差 餉2012 2011HK$HK$港 元Government rent and rates— Hotel — 1,165,200 1,078,800— Operating Centres — 140,640 168,726— Other Cyberport Portion — 9,473,639 9,835,25510,779,479 11,082,781Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報133

Notes to the Financial Statements財 務 報 表 附 註10 Other operating expenses10 其 他 營 運 支 出2012 2011HK$HK$港 元Insurance— Hotel — 216,800 298,255— Other Cyberport Portion — 1,726,295 1,898,8161,943,095 2,197,071Professional fees 7,363,019 10,073,485Marketing, promotion andproject expenses13,369,767 17,363,550Travelling expenses 734,164 520,925Transportation 480,000 480,000Other hotel operation expenses 48,687,619 42,074,793Other operation expenses onOperating Centres21,512,299 13,614,838Other miscellaneous expenses 1,761,680 1,733,91495,851,643 88,058,57611 Income tax expenseNo Hong Kong profits tax has been provided as theCompany has no assessable profit for the year (2011: Nil).The tax on the Company’s loss for the year differs fromthe theoretical amount that would arise using the tax rateof Hong Kong as follows:11 所 得 稅 支 出2012 2011HK$HK$港 元Loss for the year (134,532,727) (128,042,178)Calculated at a tax rate of 16.5%(2011: 16.5%)16.5%201116.5% (22,197,900) (21,126,959)Income not subject to tax (807,834) (430,910)Temporary differences not recognised (114,143) 251,980Tax losses not recognised 23,119,877 21,305,889— —Deferred income tax assets are not recognised fortemporary differences arising from tax loss carriedforwards due to uncertainty of realisation of the relatedtax benefit through the future taxable profits. As at 31stMarch 2012, the Company has unrecognised temporarydifferences arising from tax losses of HK$1,906 million(2011: HK$1,766 million). The tax losses have no expirydate and are yet to be agreed by the Inland RevenueDepartment.201233119.06201117.66134Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註12 Loss for the yearLoss for the year is stated after crediting and charging thefollowing:12 年 內 虧 損Crediting已 計 入 項 目2012 2011HK$HK$港 元Rental income less outgoings ofHK$9,473,639 (2011: HK$9,835,255)Reversal of provision for impairmentof receivablesGain on disposal of property, plantand equipment, netCharging9,473,63920119,835,255 147,169,157 145,649,016147,840 — — 73,617已 扣 除 項 目Auditor’s remuneration 506,000 482,000Provision for impairment of receivables 4,327,628 3,455,60713 Property, plant and equipment13 物 業 、 機 器 及 設 備2012 20112012 年 2011Buildingservices andsupportInformationtechnologyCentresequipment LeaseholdFurnitureand MotorBuildings facilities facilities (Note c) improvements equipment vehicles Total Total樓 宇樓 宇 服 務 與支 援 設 施資 訊 科 技設 施中 心 設 備( 附 註 c)租 賃 物改 良 工 程 傢 俬 與 設 備 車 輛 合 計 HK$ HK$ HK$ HK$ HK$ HK$ HK$ HK$ HK$港 元 港 元 港 元 港 元 港 元 港 元 港 元 港 元 CostAt the beginningof the year3,832,061,688 1,152,971,498 230,540,348 59,935,404 19,217,690 49,094,657 797,882 5,344,619,167 5,332,471,399Additions — — 3,860,227 950,850 4,642,949 15,473,716 220,137 25,147,879 13,426,154Disposals — — (104,174) — — — — (104,174) (1,278,386)At the end of the year 3,832,061,688 1,152,971,498 234,296,401 60,886,254 23,860,639 64,568,373 1,018,019 5,369,662,872 5,344,619,167Accumulated depreciation At the beginningof the year579,680,937 819,798,900 224,997,053 59,003,981 6,383,340 20,679,600 479,490 1,711,023,301 1,503,607,210Charge for the year 83,098,299 115,297,150 3,031,311 818,915 2,016,834 6,401,141 99,987 210,763,637 208,654,504Disposals — — (104,174) — — — — (104,174) (1,238,413)At the end of the year 662,779,236 935,096,050 227,924,190 59,822,896 8,400,174 27,080,741 579,477 1,921,682,764 1,711,023,301Net book valueAt the end of the year 3,169,282,452 217,875,448 6,372,211 1,063,358 15,460,465 37,487,632 438,542 3,447,980,108 3,633,595,866At the beginningof the year3,252,380,751 333,172,598 5,543,295 931,423 12,834,350 28,415,057 318,392 3,633,595,866 3,828,864,189Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報135

Notes to the Financial Statements財 務 報 表 附 註13 Property, plant and equipment (Continued)Notes:13 物 業 、 機 器 及 設 備 (a)On 22nd May 2000, the Government of the HKSAR granted theInland Lot No. 8969 at Telegraph Bay, Pokfulam to the immediateholding company for a term of 50 years at a lump sum initialpremium of HK$1,000.(a)2000522 8969 1,00050On 24th May 2000, the Company entered into a sub-leaseagreement (“Sub-lease Agreement”) with the immediate holdingcompany whereby a portion of the Inland Lot No. 8969 atTelegraph Bay, Pokfulam (“Cyberport Portion”) is sub-leased to theCompany from the immediate holding company at nil rental.2000 5 24 8969 (b)The buildings are situated in Hong Kong and held on a sub-leasefrom the immediate holding company for a term of 50 years lessthe last 3 days thereof commencing from 22nd May 2000.(b)2000522503(c)Centres equipment represents equipment of EntrepreneurshipCentre and Technology Centre funded by government grant andused for the purpose of the designated projects.(c)14 Held-to-maturity investments14 持 有 至 到 期 日 投 資2012 2011HK$HK$港 元Listed fixed interest debt securities: — in Hong Kong, at cost — 113,039,500 94,148,000Amortisation of premium (3,178,319) (3,425,010)109,861,181 90,722,990Unlisted debt securities, at cost 349,313,500 424,504,103Amortisation of premium (4,177,234) (7,114,172)345,136,266 417,389,931Net book amount 454,997,447 508,112,921The net book amount is analysed as follows:Maturing within one year 179,713,926 305,208,290Maturing over one year 275,283,521 202,904,631454,997,447 508,112,921Market value of listed debt securities 110,652,182 90,961,677Market value of unlisted debt securities 344,978,883 419,350,675455,631,065 510,312,352136Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註14 Held-to-maturity investments (Continued)The held-to-maturity investments represent bonds withmaturities ranging from 3 to 32 months (2011: 1 to 30months) and are denominated in Hong Kong dollars. Themarket values of listed and unlisted held-to-maturityinvestments are based upon the market price of the debtsecurities quoted over-the-counter. The maximumexposure to credit risk at the reporting date is the carryingamount of held-to-maturity investments.The Company has not reclassified any financial assetsmeasured at amortised cost during the year (2011: Nil).14 持 有 至 到 期 日 投 資 3322011130201115 Trade and other receivables15 應 收 賬 款 及 其 他 應 收 款 項2012 2011HK$HK$港 元Trade receivables 22,283,613 18,091,011Less: Provision for impairmentof receivables(7,635,395) (3,455,607)Trade receivables — net — 14,648,218 14,635,404Prepayments, deposits andother receivables 10,115,452 8,430,79124,763,670 23,066,195(a)The carrying amounts of trade and other receivablesapproximate their fair values and are denominatedin Hong Kong dollars.(a)(b)The credit terms given to the customers are rangingfrom 0–30 days.(b)030(c) As at 31st March 2012, trade receivables with 30days credit terms of HK$3,490,309 (2011:HK$3,775,381) were fully performing.(c) 2012331 3 , 4 9 0 , 3 0 9 2 0 1 1 3,775,38130Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報137

Notes to the Financial Statements財 務 報 表 附 註15 Trade and other receivables (Continued)15 應 收 賬 款 及 其 他 應 收 款 項 (d)Trade receivables that exceed the credit terms arenot considered impaired. As at 31st March 2012,trade receivables of HK$11,157,909 (2011:HK$10,860,023) were past due but not impaired.These relate to a number of independent customersfor whom there is no recent history of default. Theaging analysis of these trade receivables is asfollows:(d)2012331 11,157,909 201110,860,0232012 2011HK$HK$港 元Up to 3 months 7,727,072 8,453,358Over 3 months 3,430,837 2,406,66511,157,909 10,860,023(e)The Company has assessed if there is anyimpairment on an individual customer basis basedon aging analysis of trade receivables balance,historical bad debt rates, repayment patterns,customer credit worthiness and industry trendanalysis. As at 31st March 2012, the amount of theprovision for impairment of trade receivables wasHK$7,635,395 (2011: HK$3,455,607).(e)20123317,635,39520113,455,607Movements on the provision for impairment oftrade receivables are as follows:2012 2011HK$HK$港 元At the beginning of the year 3,455,607 —Provision for impairment ofreceivables during the year4,327,628 3,455,607Unused amount reversed (147,840) —At the end of the year 7,635,395 3,455,607(f)The maximum exposure to credit risk of thereporting date is the fair value of each class of tradeand other receivables mentioned above. TheCompany does not hold any collateral as securityother than rental deposits from tenants.(f)16 Balances with group companiesBalances with group companies are unsecured, interestfree and repayable on demand. The amounts approximatetheir fair values and are denominated in Hong Kongdollars.16 集 團 公 司 之 結 餘138Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註17 Development maintenance fundIt represents a fund received by the Company inaccordance with the terms of the Project Agreement.Pursuant to the Project Agreement, the purpose of thefund is for upkeep and maintenance of the SharedCyberport facilities. On 2nd March 2004, the Companyand Cyber-Port Limited, the developer of the CyberportProject, mutually agreed that the fund can be used by theCompany to make “low-risk” investment in the form ofmoney market funds or short-term maturity bonds.Certain portion of the fund was placed into variousinvestments (note 14).17 發 展 維 修 基 金20043214The fund was subject to final assessment and wasassessed on the sufficiency of covering the fullreplacement cost of the Shared Cyberport facilities andthe accumulated deficit of the Cyberport Portion for thefirst 5 years of operation from the practical completion ofthe Cyberport works.5A dispute arose between Cyber-Port Limited as theDeveloper and PCCW Limited, and Hong Kong CyberportDevelopment Holdings Limited, the Company’s immediateholding company, Hong Kong Cyberport (AncillaryDevelopment) Limited, the Company’s fellow subsidiary,and the Company (collectively, the “Parties”) as to thefinal assessment of the Development maintenance fund(“DMA”) under the Project Agreement.On 1st August 2011, following a mediation process, theParties entered into a settlement agreement whereby theParties agreed that the DMA should be revised to HK$451million which will be used for the purposes of upkeep andmaintenance of the Shared Cyberport facilities. The effectof revising the DMA is that HK$49 million was returnedto the operating account of the Cyberport project.2011814.514,900As at 31st March 2011, the fund was separatelydeposited into designated bank accounts. The designatedbank balance of HK$142,948,186 comprised short-termbank deposits. The carrying amount of the designatedbank balance approximated its fair value and wasdenominated in Hong Kong dollars. Upon final settlementin August 2011, the previously designated bank balancewas reclassified as cash and bank balance. Uponacquisition of relevant assets for replacements, the costsof the acquired assets will be transferred from the DMAaccount to the Capital reserve account.2011331142,948,18620118Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報139

Notes to the Financial Statements財 務 報 表 附 註18 Cash and bank balances18 現 金 及 銀 行 結 存2012 2011HK$HK$港 元Cash at bank and in hand 46,006,083 44,136,152Short-term bank deposits(shorter than 3 months)3 100,872,515 170,162,838Cash and cash equivalents 146,878,598 214,298,990Short-term bank deposits(longer than 3 months)3 401,038,980 118,946,958Cash and bank balances 547,917,578 333,245,948(a)The carrying amounts of cash and bank balancesapproximate their fair values and are denominatedin Hong Kong dollars.(a)(b)As of 31st March 2012, total cash and bank balanceheld by the Company on behalf of District CyberCentres Alliance is HK$5,068,036 (2011:HK$5,537,920).(b)20123315,068,03620115,537,92019 Trade and other payables19 應 付 賬 款 及 其 他 應 付 款 項2012 2011HK$HK$港 元Trade payables 37,645,478 27,819,033Other payables and accruals 29,334,164 26,011,02566,979,642 53,830,058The carrying amounts of trade and other payablesapproximate their fair values and are denominated inHong Kong dollars.140Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註20 Share capital20 股 本Authorised:2012 2011HK$HK$港 元1,000 ordinary shares of HK$1 each 1,0001 1,000 1,000Issued and fully paid:2 ordinary shares of HK$1 each 21 2 221 Capital reserveAt the beginning of the year/atthe end of the year21 資 本 儲 備2012 2011HK$HK$港 元5,261,848,390 5,261,848,39022 Facilities maintenance fund22 設 施 維 修 基 金On 5th September 2006, the Company, its fellowsubsidiary, and immediate holding company entered intoa third agreement to amend the Project Agreement of theCyberport Project with PCCW Limited and Cyber-PortLimited. Pursuant to the third agreement, a maintenancefund of HK$50,000,000 for the purpose of maintenanceand upgrading of the Cyberport Portion was received bythe Company and deposited into designated bankaccounts. Further to the settlement of the developmentmaintenance fund (note 17), the facilities maintenancefund, which was received pursuant to third agreement toamend the Project Agreement, will be transferred uponacquisition of the of assets at the cost of the replacedassets, to the Capital reserve account.2006955,000 17Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報141

Notes to the Financial Statements財 務 報 表 附 註23 Deferred income23 遞 延 收 益Government grants政 府 補 助 金Property,plant andequipment Others Sub-total物 業 、 機 器及 設 備 其 他 小 計2012 20112012 年 2011 Sponsorship資 助Property,plant andequipment Others Sub-total Total Total物 業 、 機 器及 設 備 其 他 小 計 合 計 HK$ HK$ HK$ HK$ HK$ HK$ HK$ HK$港 元 港 元 港 元 港 元 港 元 港 元 港 元 (note)( 附 註 )CostAt the beginning of the year 5,884,121 48,385,229 54,269,350 1,369,032 3,254,652 4,623,684 58,893,034 57,432,523Additions 1,008,060 7,761,798 8,769,858 — — — 8,769,858 12,289,763Written off of projects completed — (1,836,509) (1,836,509) — (3,254,652) (3,254,652) (5,091,161) (8,110,684)Refund — (337,892) (337,892) — — — (337,892) (2,718,568)At the end of the year 6,892,181 53,972,626 60,864,807 1,369,032 — 1,369,032 62,233,839 58,893,034Accumulated amortisationAt the beginning of the year (5,173,239) (37,873,543) (43,046,782) (894,516) (3,254,652) (4,149,168) (47,195,950) (39,555,303)Credited to statementof comprehensive income(738,550) (12,377,682) (13,116,232) (250,517) — (250,517) (13,366,749) (15,751,331)Written off of projects completed — 1,836,509 1,836,509 — 3,254,652 3,254,652 5,091,161 8,110,684At the end of the year (5,911,789) (48,414,716) (54,326,505) (1,145,033) — (1,145,033) (55,471,538) (47,195,950)Carrying amountAt the end of the year 980,392 5,557,910 6,538,302 223,999 — 223,999 6,762,301 11,697,084At the beginning of the year 710,882 10,511,686 11,222,568 474,516 — 474,516 11,697,084 17,877,220Note: Government grants are subject to terms and conditions specifiedin the project agreements. Unused balances of government grantsare required to be repaid to the Government of the HKSAR uponcompletion of the projects and submission of the final account. 142Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

Notes to the Financial Statements財 務 報 表 附 註24 Note to the statement of cash flowsReconciliation of loss for the year to cash generated fromoperations:24 現 金 流 量 表 附 註2012 2011HK$HK$港 元Loss for the year (134,532,727) (128,042,178)Depreciation 210,763,637 208,654,504Realisation of deferred income (13,366,749) (15,751,331)Interest income from held-to-maturityinvestments (7,266,212) (8,467,957)Interest income on bank deposits (1,796,671) (778,800)Interest income on designatedbank balance(1,691,275) (1,007,228)Gain on disposal of property, plantand equipment, netOperating profit before workingcapital changes — (73,617)52,110,003 54,533,393Decrease in deferred rental receivable 7,102,158 1,830,836Decrease in inventories 144,148 80,378Increase in trade and other receivables (1,340,931) (705,317)Increase in amounts due fromfellow subsidiaries (646,740) (429,571)Increase/(decrease) in trade andother payables 13,149,584 (4,051,937)Increase/(decrease) in rental andother deposits 3,425,891 (3,286,608)Net cash generated from operations 73,944,113 47,971,17425 Future minimum rental receiptsreceivableThe future aggregate minimum rental receipts receivableunder non-cancellable operating leases are as follows:25 未 來 最 低 應 收 租 金2012 2011HK$HK$港 元In the first year 109,647,025 139,643,411In the second to fifth years inclusive 94,097,193 170,330,258After the fifth year — 5,774,558203,744,218 315,748,227The Company’s operating leases are for terms rangingfrom 1 to 8 years (2011: 1 to 8 years).1820111–8Annual Report 2011/2012二 零 一 一 至 二 零 一 二 年 年 報143

Notes to the Financial Statements財 務 報 表 附 註26 Commitments26 承 擔Information technology facilitiesmaintenance service fee payable(note)2012 2011HK$HK$港 元— In the first year — 13,705,461 20,228,157— In the second to fifth years inclusive — 32,176,117 3,103,49845,881,578 23,331,655Note: The commitment in respect of the information technology facilitiesmaintenance service fee payable is subject to certain adjustment inaccordance with the terms of the System Operation Contract. 27 Related party transactionsThe Company is wholly owned by the Government of theHKSAR via Financial Secretary Incorporated. In accordancewith HKAS 24, “Related Party Disclosures”, issued byHKICPA, government-related entities and theirsubsidiaries, directly or indirectly controlled, jointlycontrolled or significantly influenced by the Governmentof HKSAR are defined as related parties of the Company.On that basis, related parties include the immediateholding company and its subsidiaries (other than theCompany), other government-related entities and theirsubsidiaries, other entities and corporations in which theCompany is able to control or exercise significantinfluence and key management personnel of theCompany.In addition to the transactions and balances disclosedelsewhere in the financial statements, for the purpose ofthe related party transaction disclosures, remuneration ofthe Directors of the Company is disclosed in note 7.27 關 聯 方 交 易247144Hong Kong Cyberport Management Company Limited香 港 數 碼 港 管 理 有 限 公 司

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