Chairman s Statement HKSE : 303 2012/2013 INTERIM REPORT for the six months ended 30 September 2012 VTech Holdings Ltd Interim Report 2012/2013 1
2.1% 8 7,610 3.1% 9,120 2.5% 36.5 35.6 16.0 Connect to Cell Retro Phone People SynJ Synapse SynJ Synapse 26.0% 1 4,540 InnoTab InnoTab 2 InnoTab 1.8% 4 3,900 50.1% 10.4% 1 9,740 InnoTab 2 MobiGo MobiGo 2 Switch & Go Dinos Alphabet Activity Cube Stencil and Learn Studio 2012/2013 21
0.6% 9,620 22.0% 1 1,770 45.0% 33.1% 1 9,740 21.9% 9,620 4 3,900 1 4,540 30.1% 36.5% 1 600 33.4% 1 1,770 3 5,200 1 2,830 4.6% 3 5,200 40.2% 8.1% 1 600 1 2,830 3.0% Switch & Go Dinos Toot-Toot Drivers InnoTab InnoTab 2 Storio 2 InnoTab 2 6.9% 5,100 5.8% 31.7% 1,870 1,120 6.7% 8.3% 2,110 22 2012/2013
36.7% 22.0% 1,870 41.3% 2,110 1,120 5,100 3,410 20.1% 3.9% 27.8% 1,950 6.5% 25.0% 1,430 30 CareLine Voice Announce 57.2% 1,950 41.9% 1,430 0.9% 30 3,410 MobiGo 2 InnoTab 2 InnoTab 2S Wi-Fi 2012/2013 23
Learning Lodge Switch & Go Dinos InnoTab 2 Storio 2 Switch & Go Dinos Toot-Toot Drivers 24 2012/2013
2.1% 8 7,610 1.8% 4 3,900 50.1% 4.6% 3 5,200 40.2% 6.9% 5,100 5.8% 20.1% 3,410 3.9% 10.4% 1 9,740 26.0% 1 4,540 InnoTab InnoTab 2 MobiGo 2 Switch & Go Dinos 0.6% 9,620 1,000 800 858.1 876.1 22.0% 1 1,770 31.7% 1,870 6.7% 1,120 8.3% 2,110 1,950 27.8% 6.5% 25.0% 1,430 30 600 400 200 50.1% 4 3,900 40.2% 3 5,200 0 2011 2012 3.9% 3,410 5.8% 5,100 8.1% 1 600 3.0% 1 2,830 Switch & Go Dinos Toot-Toot Drivers 8 7,610 2 6,630 530 2.0% 30.4% 2012/2013 25
9,930 300 3.1% 11.2% 11.3% 1 1,290 1 1,190 0.9% 13.2% 12.8% 2,350 2,660 40 70 2.7% 3.0% 2,850 0.7% 3.3% 9,120 270 36.5 35.6 16.0 4,010 1 890 3 4,000 2 3,920 1,980 6.2% 108 111 3 7,730 2 1,060 3,780 11.1% 58 61 100 80 60 88.5 91.2 1,700 40 20 0 2011 2012 26 2012/2013
3 876.1 858.1 1,784.5 (609.8) (597.1) (1,213.7) 266.3 261.0 570.8 (111.9) (112.9) (255.0) (26.6) (23.5) (49.1) (28.5) (28.3) (57.2) 3&4 99.3 96.3 209.5 1.9 1.6 2.1 101.2 97.9 211.6 5 (10.0) (9.4) (19.7) 91.2 88.5 191.9 7 36.5 35.6 77.0 36.5 35.5 76.9 92.6 78.3 91.0 5.1 5.1 5.1 0.2 0.2 0.2 8.4 7.9 5.9 106.3 91.5 102.2 8 340.0 320.2 239.2 9 414.0 369.9 244.2 0.2 0.4 0.8 108.9 128.5 326.5 863.1 819.0 810.7 10 (417.2) (376.4) (314.9) (31.5) (36.7) (31.5) (11.0) (11.6) (4.5) (459.7) (424.7) (350.9) 403.4 394.3 459.8 509.7 485.8 562.0 (5.7) (3.9) (5.8) 504.0 481.9 556.2 11 12.5 12.5 12.5 491.5 469.4 543.7 504.0 481.9 556.2 91.2 88.5 191.9 0.1 1.3 1.4 (0.8) (0.2) (0.3) (1.9) (3.2) (2.7) 9.1 (2.6) (2.1) 7.5 88.6 86.4 199.4 (58.1) (39.6) 211.2 (17.0) (14.5) (29.7) 0.5 0.3 150.0 60.0 (60.0) 133.5 45.5 (89.4) (141.8) (151.2) (190.9) (1.2) 0.7 2.5 (67.6) (144.6) (66.6) 176.5 243.1 243.1 108.9 98.5 176.5 108.9 128.5 326.5 (30.0) (150.0) 108.9 98.5 176.5 29 34 6 2012/2013 27
12.5 128.2 (0.9) 21.3 9.4 4.2 1.4 380.1 556.2 91.2 91.2 0.1 0.1 (0.8) (0.8) (1.9) (1.9) (1.9) (0.7) (2.6) (1.9) (0.7) 91.2 88.6 6 (150.2) (150.2) 8.4 8.4 2.1 (2.0) 0.1 11(c) 0.9 0.9 12.5 138.7 21.3 7.5 2.2 0.7 321.1 504.0 12.4 121.1 12.2 12.1 3.1 0.3 382.7 543.9 88.5 88.5 1.3 1.3 (0.2) (0.2) (3.2) (3.2) (3.2) 1.1 (2.1) (3.2) 1.1 88.5 86.4 6 (154.6) (154.6) 0.1 5.7 5.8 0.8 0.2 1.0 (2.4) (2.4) 11(c) 1.8 1.8 12.5 127.6 (0.6) 12.2 8.9 3.3 1.4 316.6 481.9 29 34 28 2012/2013
1 34 2 34 3 8 2400 2 7 (a) 7 2012/2013 29
3 (b) 439.0 431.2 352.0 336.5 51.0 47.7 34.1 42.7 876.1 858.1 47.7 42.1 37.6 39.9 8.1 7.2 5.9 7.1 99.3 96.3 210.0 140.2 183.9 104.3 565.9 660.9 0.8 0.6 960.6 906.0 (55.1) (41.7) (40.3) (28.4) (352.6) (275.9) (0.7) (0.4) (448.7) (346.4) (c) 960.6 906.0 0.2 0.2 0.2 0.8 8.4 5.9 969.4 912.9 (448.7) (346.4) (11.0) (4.5) (5.7) (5.8) (465.4) (356.7) 4 609.8 597.1 14.4 14.5 0.1 2.3 (1.2) 1.8 (0.5) (1.9) (1.6) (0.4) (0.7) 5 10.5 9.7 2.1 2.2 (2.6) (2.5) 10.0 9.4 12.6 11.9 (2.6) (2.5) 10.0 9.4 30 2012/2013
6 (a) 16.0 16.0 40.1 39.9 (b) 60.0 62.0 149,700,000 150,200,000 154,600,000 7 91,200,000 88,500,000 249,900,000 248,800,000 250,100,000 249,400,000 91.2 88.5 249.9 248.8 0.2 0.6 250.1 249.4 36.5 35.5 8 201,000,000 122,000,000 219,600,000 9 414,000,000 244,200,000 369,900,000 377,300,000 210,600,000 339,500,000 30 211.8 114.8 31 60 117.4 73.7 61 90 42.4 18.1 90 5.7 4.0 377.3 210.6 10 417,200,000 314,900,000 376,400,000 244,500,000 173,800,000 214,600,000 244.5 173.8 172.7 141.1 417.2 314.9 30 86.3 75.3 31 60 87.7 55.4 61 90 54.2 21.6 90 16.3 21.5 244.5 173.8 2012/2013 31
11 (a) 400,000,000 400,000,000 0.05 20.0 20.0 0.05 249,489,133 12.5 248,296,133 12.4 889,000 1,193,000 0.1 250,378,133 12.5 249,489,133 12.5 4,800 99,300 11(c) (b) 24,938,913 854,000 0.3% 1 41.07 41.07 85.35 113,000 (113,000) 2 248,000 (120,000) 3 1,382,000 (656,000) 4 128,000 726,000 1,743,000 (889,000) 854,000 (1) (2) 113,000 41.07 94.90 92.30 (3) 120,000 41.07 95.50 92.35 (4) 656,000 85.35 92.96 91.65 (5) 32 2012/2013
11 (b) Black-Scholes 1 1 2 5.76 5.95 22.12 40.1 40.1 85.1 41.07 41.07 85.35 43.33% 43.33% 54.24% 1.56% 1.88% 0.99% 2.5 3.5 2.5 3 10.3% 10.3% 5.22% (1) (2) (3) (4) (c) 3% 1,400 244,000 15,0002,700,000 1 74.16 95,900 0.9 (1) (2) (3) 4,800 99,300 900,000 1,800,000 2012/2013 33
12 14 10.1 24.5 5.0 8.4 13 15.1 32.9 339,900,000 244,500,000 1 9 10 11 12 13 27 28 19 15 34 2012/2013
352 10 XV (1) 9,654,393 3,968,683 74,101,153 87,724,229 35.0% 1 120,000 384,000 504,000 0.2% 128,000 128,000 0.1% 449,430 592,200 1,041,630 0.4% 2 211,500 211,500 423,000 0.2% 3 3 162,000 162,000 0.1% (1) Honorex LimitedHonorex 1,416,325 Conquer Rex LimitedConquer Rex 65,496,225 Twin Success Pacific LimitedTwin Success 7,188,603 Conquer Rex Honorex Conquer Rex Honorex Twin Success Surplus Assets LimitedSurplus AssetsSurplus Assets The Allan Wong 2011 Trust Credit Suisse Trust Limited Surplus Assets 74,101,153 Honorex 65,496,225 Surplus Assets Credit Suisse Trust Limited Credit Suisse Trust Limited Surplus Assets (2) Golden Step Limited (3) Romsley International Limited (4) (2) 85.35 41.07 41.07 85.35 85.35 512,000 1 113,000 2 248,000 128,000 3 256,000 256,000 128,000 128,000 (1) 92.35 (2) 94.90 (3) 95.50 352 XV 2012/2013 35
XV 336 5% Credit Suisse Trust Limited 1 74,101,153 29.6% Surplus Assets Limited 1 74,101,153 29.6% Honorex Limited 1 65,496,225 26.2% 1 1,416,325 0.6% Conquer Rex Limited 1 65,496,225 26.2% Templeton Asset Management Limited 39,888,200 15.9% The Capital Group Companies, Inc. 2 15,928,689 6.4% JPMorgan Chase & Co. 3 1,544,174 0.6% 3 675,000 0.3% 3 10,357,746 4.1% JPMorgan Chase & Co. 3 1,436,266 0.6% JPMorgan Chase & Co. 3 10,357,746 4.1% (1) Honorex1,416,325Conquer Rex65,496,225Twin Success7,188,603Conquer Rex Honorex Conquer Rex Honorex Twin Success Surplus Assets Surplus Assets The Allan Wong 2011 Trust Credit Suisse Trust Limited Surplus Assets 74,101,153 Honorex 65,496,225 Surplus Assets Credit Suisse Trust Limited Credit Suisse Trust Limited Surplus Assets 74,101,153 (2) Capital Guardian Trust Company 586,500 Capital International, Inc. 1,586,000 Capital International Limited 643,989 Capital International Sarl 604,000 Capital Research and Management Company 12,508,200 Capital Guardian Trust Company Capital International, Inc. Capital International Limited Capital International Sarl Capital Research and Management Company The Capital Group Companies, Inc. (3) JPMorgan Chase & Co. 12,576,920 1,436,266 (i) 1,544,174 1,436,266 (ii) 675,000 (iii) 10,357,746 JPMorgan Chase & Co. XV 336 36 2012/2013
14 A.2.1 A.2.1 10 2012/2013 37
16.0 13.51B(1) 13.51(2) (a) (e) (g) Butterfield Fulcrum Group (Bermuda) Limited 26 Burnaby Street, Hamilton HM11, Bermuda 183 17 1712 16 15,000 1,400 38 2012/2013
Clarendon House 2 Church Street Hamilton HM11 Bermuda 57 1 23 2012/2013 39
303 100 250,378,133 16.0 Butterfield Fulcrum Group (Bermuda) Limited 26 Burnaby Street Hamilton HM11 Bermuda 183 17 1712 16 (852) 2862 8628 (852) 2865 0990 hkinfo@computershare.com.hk 57 1 23 (852) 2680 1000 (852) 2680 1788 investor_relations@vtech.com www.vtech.com/investors/stock-info 40 2012/2013
If there are any discrepancies between the Chinese translation and the English version of this Interim Report, the English version shall prevail.
(Incorporated in Bermuda with limited liability) 23rd Floor, Tai Ping Industrial Centre, Block 1 57 Ting Kok Road, Tai Po, New Territories, Hong Kong Tel: (852) 2680 1000 Fax: (852) 2680 1300 Email: investor_relations@vtech.com www.vtech.com 57 1 23 (852) 2680 1000 (852) 2680 1300 investor_relations@vtech.com www.vtech.com