# CONSOLIDATED STATEMENTS OF CASH FLOWS

<table><tr><td rowspan="4"></td><td rowspan="4">Notes</td><td colspan="3">Year ended 31 March</td><td colspan="2">Five months ended
31 August</td></tr><tr><td>2015</td><td>2016</td><td>2017</td><td>2016</td><td>2017</td></tr><tr><td>HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td></tr><tr><td></td><td></td><td></td><td>(Unaudited)</td><td></td></tr><tr><td>CASH FLOWS FROM
OPERATING ACTIVITIES</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Profit/(loss) before tax</td><td></td><td>28,148</td><td>27,004</td><td>35,572</td><td>6,362</td><td>(5,195)</td></tr><tr><td>Adjustments for:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Finance cost</td><td>6</td><td>63</td><td>2</td><td>1</td><td> –</td><td>18</td></tr><tr><td>Depreciation</td><td>7</td><td>4,078</td><td>8,858</td><td>9,456</td><td>4,473</td><td>3,632</td></tr><tr><td>Loss/(gain) on disposal/
write-off of items of
property, lpant and
equipment</td><td>7</td><td>(26)</td><td> –</td><td>(75)</td><td> –</td><td>543</td></tr><tr><td>Impairment of an other
receivable</td><td>7</td><td>178</td><td> −</td><td> −</td><td> –</td><td> –</td></tr><tr><td>Reversal of write-down of
inventories to net
realisable value</td><td>7</td><td>(175)</td><td>(63)</td><td>(169)</td><td> –</td><td> –</td></tr><tr><td>Write-down of inventories
to net realisable value</td><td>7</td><td>126</td><td>505</td><td>292</td><td>321</td><td>47</td></tr><tr><td>Provisions for reinstatement
costs – reversal of
unutilised provisions/
decrease in estimated
provisions</td><td>5</td><td>–</td><td> –</td><td>(3,574)</td><td>(383)</td><td> –</td></tr><tr><td></td><td></td><td>32,392</td><td>36,306</td><td>41,503</td><td>10,773</td><td>(955)</td></tr><tr><td>Decrease/(increase) in
inventories</td><td></td><td>(97)</td><td>3,211</td><td>(2,072)</td><td>(6,255)</td><td>(13,330)</td></tr><tr><td>Decrease/(increase) in trade
receivables</td><td></td><td>1,972</td><td>240</td><td>(908)</td><td>(1,706)</td><td>(630)</td></tr><tr><td>Decrease/(increase) in
prepayments, deposits and
other receivables</td><td></td><td>(89)</td><td>(2,572)</td><td>(6,283)</td><td>45</td><td>(5,169)</td></tr><tr><td>Increase/(decrease) in trade
and bills payables</td><td></td><td>(484)</td><td>(5,145)</td><td>1,676</td><td>392</td><td>3,931</td></tr><tr><td>Increase/(decrease) in other
payables and accruals</td><td></td><td>5,640</td><td>(3,622)</td><td>(102)</td><td>10,511</td><td>25,698</td></tr><tr><td>Decrease in provisions</td><td></td><td>(932)</td><td>(50)</td><td>(47)</td><td>(47)</td><td>(2,000)</td></tr><tr><td>Cash generated from
operations</td><td></td><td>38,402</td><td>28,368</td><td>33,767</td><td>13,713</td><td>7,545</td></tr><tr><td>Hong Kong profits tax paid</td><td></td><td>(2,096)</td><td>(6,764)</td><td>(4,866)</td><td> –</td><td> –</td></tr><tr><td>Net cash flows from operating
activities</td><td></td><td>36,306</td><td>21,604</td><td>28,901</td><td>13,713</td><td>7,545</td></tr></table>

<table><tr><td rowspan="4"></td><td rowspan="4">Notes</td><td colspan="3">Year ended 31 March</td><td colspan="2">Five months ended
31 August</td></tr><tr><td>2015</td><td>2016</td><td>2017</td><td>2016</td><td>2017</td></tr><tr><td>HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td><td> HK$’000</td></tr><tr><td></td><td></td><td></td><td>(Unaudited)</td><td></td></tr><tr><td>CASH FLOWS FROM
INVESTING ACTIVITIES</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Purchases of items of
prol
pertdy, pant aneiqupment</td><td></td><td>(5,517)</td><td>(12,535)</td><td>(2,635)</td><td>(1,492)</td><td>(6,610)</td></tr><tr><td>Proceeds from disposal of
items of property, lpant and
equipment</td><td></td><td>26</td><td> −</td><td>118</td><td> –</td><td> –</td></tr><tr><td>Acquisition of a business</td><td>24</td><td>(2,532)</td><td>(300)</td><td> –</td><td> –</td><td> –</td></tr><tr><td>Net cash flows used in
investing activities</td><td></td><td>(8,023)</td><td>(12,835)</td><td>(2,517)</td><td>(1,492)</td><td>(6,610)</td></tr><tr><td>CASH FLOWS FROM
FINANCING ACTIVITIES</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest paid</td><td></td><td>(63)</td><td>(2)</td><td>(1)</td><td> –</td><td>(18)</td></tr><tr><td>Dividends paid</td><td></td><td>(33,000)</td><td> –</td><td> −</td><td> –</td><td> –</td></tr><tr><td>Net increase/(decrease) in
trust receipt loans</td><td></td><td>(3,695)</td><td> –</td><td> –</td><td>957</td><td>12,526</td></tr><tr><td>Net cash flows from/(used in)
financing activities</td><td></td><td>(36,758)</td><td>(2)</td><td>(1)</td><td>957</td><td>12,508</td></tr><tr><td>NET INCREASE/
(DECREASE) IN CASH
AND CASH
EQUIVALENTS</td><td></td><td>(8,475)</td><td>8,767</td><td>26,383</td><td>13,178</td><td>13,443</td></tr><tr><td>Cash and cash equivalents at
beignning of year/iperod</td><td></td><td>13,143</td><td>4,668</td><td>13,435</td><td>13,435</td><td>39,818</td></tr><tr><td>CASH AND CASH
EQUIVALENTS AT END
OF YEAR/PERIOD</td><td></td><td>4,668</td><td>13,435</td><td>39,818</td><td>26,613</td><td>53,261</td></tr><tr><td>ANALYSIS OF BALANCE
OF CASH AND CASH
EQUIVALENTS</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and bank balances</td><td></td><td>4,668</td><td>13,435</td><td>39,818</td><td>26,613</td><td>53,261</td></tr></table>