ICO Group Limited — Annual Report 2011

Apr 27, 2012

A N N U A L R E P O R T 年 報 2011

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AMCO UNITED HOLDING LIMITED

(formerly known as Guojin Resources Holdings Limited) （前稱為國金資源控股有限公司[] ） (Incorporated in Bermuda with limited liability) （於百慕達註冊成立之有限公司） (Stock Code 股份代號 : 630)*

• For identification purposes only 僅供識別

Contents 目錄

FINANCIAL HIGHLIGHTS CORPORATE INFORMATION CHAIRMAN’S STATEMENT MANAGEMENT DISCUSSION AND ANALYSIS PROFILE OF DIRECTORS AND SENIOR MANAGEMENT CORPORATE GOVERNANCE REPORT DIRECTORS’ REPORT INDEPENDENT AUDITOR’S REPORT

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME CONSOLIDATED STATEMENT OF FINANCIAL POSITION STATEMENT OF FINANCIAL POSITION CONSOLIDATED STATEMENT OF CHANGES IN EQUITY CONSOLIDATED STATEMENT OF CASH FLOWS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL SUMMARY

	PAGE(S)
	頁次
財務摘要	2
公司資料	4
主席報告	6
管理層討論及分析	8
董事及高級管理人員簡介	15
企業管治報告	18
董事會報告	27
獨立核數師報告	44
綜合全面收益表	47
綜合財務狀況表	50
財務狀況表	52
綜合權益變動表	53
綜合現金流量表	55
綜合財務報表附註	58
財務概要	184

雋泰控股有限公司

1

2011 年報

Financial Highlights 財務摘要

TURNOVER BY GEOGRAPHICAL MARKET FOR THE YEAR 年內按地區市場劃分之營業額

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2011
二零一一年
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2010
二零一零年
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PRC including Hong Kong 中國（包括香港） 13.90%
Other regions in Asia Pacific 亞太其他地區 29.90%
North and South America 北美洲及南美洲 27.32%
Europe 歐洲 28.70%
Other 其他 0.18%
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PRC including Hong Kong 中國（包括香港） 18.59%
Other regions in Asia Pacific 亞太其他地區 25.12%
North and South America 北美洲及南美洲 37.35%
Europe 歐洲 18.86%
Other 其他 0.08%
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TURNOVER BY PRINCIPAL ACTIVITIES FOR THE YEAR

年內按主要業務劃分之營業額

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2011
二零一一年
Manufacture and sale of medical devices products
製造及銷售醫療設備產品 6.07%
Manufacture and sale of plastic molding products
製造及銷售塑膠模具產品 28.22%
Manufacture and sale of data media products
製造及銷售數據媒體產品 49.52%
Distribution of data media products
分銷數據媒體產品 9.53%
Remunfacture and sale of computer
printing and imaging products
環保再造及銷售電腦打印及影像產品 6.66%
Trading and mining of mineral resources
買賣及開採礦產資源 0%
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2010
二零一零年
Remunfacture and sale of computer
printing and imaging products
環保再造及銷售電腦打印及影像產品 43.40%
Manufacture and sale of data media products
製造及銷售數據媒體產品 39.95%
Distribution of data media products
分銷數據媒體產品 7.24%
Trading and mining of mineral resources 9.41%
買賣及開採礦產資源
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AMCO UNITED HOLDING LIMITED Annual Report 2011

2

Financial Highlights 財務摘要

FINANCIAL AND OPERATING RESULTS HIGHLIGHTS

財務及經營業績概要

OPERATING RESULTS (HK$’000) 經營業績（千港元）	2011 2010 二零一一年 二零一零年 (Re-presented) （經重列）	2011 2010 二零一一年 二零一零年 (Re-presented) （經重列）
Turnover 營業額		80,183
	117,561
Loss for the year 本年度虧損		(383,911)
	(81,486)
FINANCIAL POSITION (HK$’000) 財務狀況（千港元）	2011 2010 二零一一年 二零一零年 (Re-presented) （經重列）
Equity/(capital deficiency) attributable to owners of the Company 本公司擁有人應佔權益╱ （資本虧絀）	82,653	(131,615)
Total assets 總資產	202,790	141,556
Net assets/(liabilities) 資產╱（負債）淨額	81,134	(132,158)
Net assets/(liabilities) value per share (HK cents) 每股資產╱（負債）淨額（港仙）	0.93	(8.8)
FINANCIAL STATISTICS 財務統計	2011 2010 二零一一年 二零一零年 (Re-presented) （經重列）
Current ratio1 流動比率1	1.1	1.2
Total debt to equityratio2 總債務與股權比率2	1.5	(2.1)
Return on total assets (%)3 總資產回報率(%)3	(40.2)	(271.2)
Return on sales (%)4 銷售回報率(%)4	(0.2)	(136.1)
Loss per share from continuing and discontinued operations (HK cents) 來自持續及已終止經營業務之 每股虧損（港仙） Basic 基本 Diluted 攤薄		(28.0) N/A不適用
	(2.8)
	(2.4)

Notes:

1. Current ratio is calculated by dividing current assets by current liabilities.

2. Total debt to equity ratio is calculated by dividing the total indebtedness by equity attributable to owners of AMCO United Holding Limited (the “Company”).

3. Return on total assets is calculated by dividing the loss for the year by total assets.

附註：

1. 流動比率乃以流動資產除以流動負債計算。

2. 總債務與股權比率乃以總債務除以雋泰控股 有限公司（「本公司」）擁有人應佔權益計算。

3. 總資產回報率乃以年度虧損除以總資產計算。

4. Return on sales is calculated by dividing the continuing operation’s loss for the year by turnover.

5. 銷售回報率乃以持續經營業務之年度虧損除 以營業額計算。

雋泰控股有限公司 2011 年報

3

Corporate Information 公司資料

DIRECTORS

Executive Directors

YIP Wai Lun, Alvin (Chairman and Managing Director) LEUNG Mei Han

Independent Non-executive Directors

LEUNG Ka Kui, Johnny CHAN Kam Kwan, Jason LAU Man Tak

COMPANY SECRETARY

CHAN Kwong Leung, Eric

AUTHORISED REPRESENTATIVES

CHAN Kwong Leung, Eric LEUNG Mei Han

PRINCIPAL PLACE OF BUSINESS

Units 3303-3304 Level 33 Tower 1 Enterprise Square Five 38 Wang Chiu Road Kowloon Bay Kowloon Hong Kong

REGISTERED OFFICE

Clarendon House 2 Church Street Hamilton HM11 Bermuda

董事

執行董事

葉偉倫（主席兼董事總經理） 梁美嫻

獨立非執行董事

梁家駒 陳錦坤 劉文德

公司秘書

陳鄺良

法定代表

陳鄺良 梁美嫻

主要營業地點

香港 九龍 九龍灣 宏照道38號 企業廣場5期1座 33樓3303-3304室

註冊辦事處

Clarendon House 2 Church Street Hamilton HM11 Bermuda

AMCO UNITED HOLDING LIMITED Annual Report 2011

4

Corporate Information 公司資料

PRINCIPAL BANKERS

Standard Chartered Bank (Hong Kong) Limited The Hongkong and Shanghai Banking Corporation Limited Industrial and Commercial Bank of China (Asia) Limited

AUDITOR

BDO Limited

PRINCIPAL SHARE REGISTRARS AND TRANSFER OFFICE

Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre 11 Bermudiana Road Pembroke HM08 Bermuda

HONG KONG BRANCH SHARE REGISTRARS AND TRANSFER OFFICE

Tricor Standard Limited 26/F, Tesbury Centre 28 Queen’s Road East Hong Kong

WEBSITE

www.amco-united.com

主要往來銀行

渣打銀行（香港）有限公司 香港上海滙豐銀行有限公司 中國工商銀行（亞洲）有限公司

核數師

香港立信德豪會計師事務所有限公司

主要股份登記處及過戶辦事處

Butterfield Fulcrum Group (Bermuda) Limited Rosebank Centre 11 Bermudiana Road Pembroke HM08 Bermuda

香港股份登記分處及過戶辦事處

卓佳標準有限公司 香港 皇后大道東28號 金鐘匯中心26樓

網址

www.amco-united.com

雋泰控股有限公司

5

2011 年報

Chairman’s Statement 主席報告

Due to the slowdown of global economy and economic crises in recent years, countries around the globe have been facing very tough pressure and challenges. As a result, demand in all aspects of the normal trade items, consumer goods, and components relevant to our business sectors has noticeably slowed down. Coupled with the continuous increase of cost challenges in Southern China where our manufacturing facilities are located has intensified the pressure on both cost and demand in various products that the Company produces and sells at this point in time.

However, our companies maintain a high operating morale and experienced management, and are able to continuously upgrade the core competency and improve processing and manufacturing capabilities as it had been servicing our multi-national customers in the past near three decades. And the Company continues to leverage such value and capabilities and is seeking a few unique opportunities adhere to the Company. Furthermore, we are integrating with international talents, know-hows and sector expertise in areas we are aligning our new focus in which we are in the process of engaging.

It is worthy to mention one of our subsidiaries, Titron, with almost 30 years of successful operation in processing capability and plastic manufacturing expertise and a diverse business portfolio supporting many multinational corporations. Their successful track record has enabled them to evolve into medical device manufacturing business. Titron today operates a manufacturing facility which is fully US FDA (Food and Drug Administration of the United States) certified. Through our association and servicing with a very talented, innovative medical device company in the US, it provides a solid platform for the Company to engage and support several leading pharmaceutical and medical device companies in the world. Such opportunities again will result in further growth and expansion into different sectors within the medical innovation opportunities.

Combining all the broad experiences and connections throughout the subsidiaries of the Group, the business focus is elevating beyond the boundary of traditional manufacturing that has been our business model today. And also, in addition to our expertise in managing the traditional labor intensive process model which has brought us many successful business ventures so far, we are also integrating a more fully automated and semi-automated manufacturing methodology that are necessary in the environment such as the medical sector demands.

由於近年來全球經濟放緩及經濟危機，世界各國 一直面臨非常嚴峻的壓力及挑戰。因此，對一般 貿易貨物、消費品以及與本集團業務部門有關的 部件等各方面的需求均出現顯著放緩。加上本集 團製造設施所在的華南地區不斷上升的成本挑 戰，此刻已加劇成本及對本公司所生產及銷售的 各類產品需求方面的雙重壓力。

然而，本集團各公司在營運方面繼續保持高昂士 氣並擁有具豐富經驗之管理層，且由於本集團於 過去近三十年一直為跨國客戶提供服務，因此可 持續提高核心能力及提升加工及製造實力。而本 公司會繼續動用有關價值及實力，並正尋求切合 本公司發展所需的若干特有機遇。此外，我們正 在整合與我們正從事的新業務重點相匹配的各 領域內國際專才、技術知識及行業專長。

值得一提的是，本集團的其中一間附屬公司德隆 擁有近30年的成功經營歷史，加工實力雄厚，擁 有塑膠製造專長及眾多跨國企業提供支持的多 元化業務組合。其成功往績已令其有能力進軍醫 療設備製造業務。德隆現今經營一間獲美國食品 及藥品管理局（「美國食品及藥品管理局」）全面 認證的製造廠。透過我們與美國一間具卓越才 華、創新實力的醫療設備公司的聯盟及合作，其 為本公司提供堅實平台以服務及支持若干全球 領先醫藥及醫療設備公司。有關機遇將可為各 不同的醫療創新分類行業帶來進一步增長及擴 展。

結合本集團附屬公司的所有廣泛經驗及關係， 此業務重點正超出現今一直為本集團業務模式 的傳統製造範疇。另外，除我們在管理迄今已為 本集團帶來眾多成功業務公司的傳統勞動密集 型加工模式的專長外，我們亦正在融合在有關環 境下所必需（例如醫療行業需求）的更加全面自 動化及半自動化的製造工藝。

AMCO UNITED HOLDING LIMITED 6 Annual Report 2011

Chairman’s Statement 主席報告

LOOKING AHEAD

Businesses in the 21st century need a renewed entrepreneurial spirit at their centre and as well as in their leadership. The Group must be adaptive to changes and be prepared to investigate and develop new business models with the support of strong internal business processes and systems managed by true professionals. By incorporating all aspects of innovation, technology and manufacturing, we have to move from a low cost China centric product environment to a globally linked knowledge centric environment.

Health care is a market place where the technology drivers are allowing future customized health care products and services at a more personal level. The goal of AMCO is to venture into a new position at this exciting intersection point where technologies and opportunities are merged, in order to provide product solutions and services that are both relevant and beneficial to doctors and patients alike, delivered in a most direct and high efficiency level.

The Company sees opportunity arising from the intersection point of new technology in the medical sector, which, when combined with existing manufacturing know-how, will bring about new application in that sector. AMCO is in a unique position to take advantage of such opportunity and develop a disruptive economic model. The Group is in the process to solidify an alignment to take a leading position in a new exciting future in the new business arena it has entered, being the health care product sector, with its international business partners.

Yip Wai Lun, Alvin

Chairman and Managing Director

28 March 2012

展望

在二十一世紀，營商需要一種全新的企業家精 神，提供一個可施展其才華及領導能力的舞台。 本集團必須在真才實幹的專業人員管理的強大 內部業務流程及系統支持下適應變化，研究及開 發新型業務模式。透過整合所有的創新、技術及 製造方面的經驗，本集團自一個以中國為中心的 低成本營商環境轉向為一個以全球化知識融和 的營商環境。

健康護理是由技術帶動市場發展的領域，未來在 此領域需定製化的醫護產品及服務將傾向更加 個人化水平。雋泰將在此技術與機遇相交融的有 利交匯點上把握新的形勢，以提供可讓醫生及病 人雙方平等受益的最直接及高效產品解決方案 及服務。

本公司把握於醫學界之新技術交匯點呈現之機 遇，並結合現時生產技術，此將為該行業帶來新 應用範疇。雋泰已作好準備利用有關機遇並發展 突破性的經濟模式。本集團正與其國際業務夥伴 攜手，在已置身其中的健康護理行業新天地，整 固實力，以期於令人振奮的未來，佔一領導席 位。

主席兼董事總經理

葉偉倫

二零一二年三月二十八日

雋泰控股有限公司

7

2011 年報

Management Discussion and Analysis 管理層討論及分析

RESULTS

During the year under review, the business activities of Company and its subsidiaries (the “Group”) involved the remanufacture and sale of computer printing and imaging products, manufacture and sale of data media products, distribution of data media products, manufacture and sale of plastic moulding products and manufacture and sale of medical devices products. The businesses of manufacture and sale of plastic moulding products and manufacture and sale of medical devices products were acquired by the Group in October 2011.

On 8 August 2011, the business of remanufacture and sale of computer printing and imaging products of the Group, was put into members’ voluntary liquidation. In addition, during the year, the Directors decided to cease the Group’s business in trading and mining of mineral resources for the reason that the Directors consider it in the interests of the Company and its shareholders to re-align the resources of the Group to its manufacturing business. As a result of the discontinuation of these two business segments, they are presented as discontinued operations in the financial statements for the year ended 31 December 2011 in accordance with HKFRS 5.

The Group faced various challenges throughout the year 2011 under review, yet it was an encouraging year for the Group. For the year ended 31 December 2011, the turnover of the Group’s continuing operations increased by 46.6% to approximately HK$117.6 million, compared to approximately HK$80.2 million for the year ended 31 December 2010. Gross profit of the Group increased by 307.6% from about HK$6.6 million in year 2010 to approximately HK$26.9 million in this financial year. As a result of improvement in gross margin during the year, coupled with the financial impacts arising from various capital and corporate restructuring and financing activities during the year, including, among other things, gain on extinguishment of financial liabilities by issue of ordinary shares of HK$32.1 million (2010: nil), and gain on change in fair value of a convertible note of HK$18.0 million (2010: nil), the Group achieved a profit before tax of HK$8.2 million, compared with a loss before tax of HK$108.6 million for year 2010. After income tax provision, the Group recorded a loss from continuing operations of HK$0.2 million for the year ended 31 December 2011, which was substantially reduced from the loss from continuing operations of HK$109.1 million recorded for the year ended 31 December 2010.

業績

於回顧年度內，本公司及其附屬公司（「本集 團」）主要從事環保再造及銷售電腦打印及影像 產品、製造及銷售數據媒體產品、分銷數據媒體 產品、製造及銷售塑膠模具產品以及製造及銷售 醫療設備產品。製造及銷售塑膠模具產品以及製 造及銷售醫療設備產品業務乃由本集團於二零 一一年十月收購。

於二零一一年八月八日，本集團將環保再造 及銷售電腦打印及影像產品業務進行股東 自願清盤。此外，年內董事決定終止本集團 的買賣及開採礦產資源業務，由於董事認為 此舉符合本公司及其股東的利益以重新調 配本集團資源至其製造業務。由於該兩個業 務分部之終止，根據香港財務報告準則第 5 號，其於截至二零一一年十二月三十一日止 年度財務報表內呈列為已終止經營業務。

本集團於整個二零一一年回顧年度內面臨多項 挑戰，然而，對本集團而言卻是令人鼓舞的一 年。截至二零一一年十二月三十一日止年度，本 集團持續經營業務之營業額較截至二零一零年 十二月三十一日止年度約80,200,000港元增長 46.6%至約117,600,000港元。本集團毛利自二 零一零年之約6,600,000港元增加307.6%至本 財政年度之約26,900,000港元。由於年內毛利率 有所改善，加上年內多項資本及公司重組及融資 活動，其中包括透過發行普通股抵銷財務負債產 生之收益32,100,000港元（二零一零年：無）及 可換股票據之公允價值變動收益18,000,000港 元（二零一零年：無）帶來之財務影響，本集團實 現除稅前溢利8,200,000港元，而二零一零年則 為除稅前虧損108,600,000港元。於扣除所得稅 撥備後，本集團之持續經營業務截至二零一一年 十二月三十一日止年度錄得虧損200,000港元， 而此較截至二零一零年十二月三十一日止年度 持續經營業務錄得之虧損109,100,000港元大幅 減少。

AMCO UNITED HOLDING LIMITED Annual Report 2011

8

Management Discussion and Analysis 管理層討論及分析

During the year under review, the Group recorded loss from discontinued operations in the remanufacture and sale of computer printing and imaging products operations and the trading and mining of mineral resources operations of HK$81.3 million (2010: loss from discontinued operation HK$274.8 million).

於回顧年度內，本集團環保再造及銷售電腦打 印及影像產品業務以及買賣及開採礦產資源業 務之已終止經營業務合共錄得虧損81,300,000 港元（二零一零年：來自已終止經營業務之虧損 274,800,000港元）。

The Group’s overall loss attributable to owners of the Company dropped by 79.0% from about HK$383.4 million for the year ended 31 December 2010 down to HK$80.5 million for this financial year.

本集團之本公司擁有人應佔整體虧損由截至二零 一零年十二月三十一日止年度之約383,400,000 港元下降79.0%至本財政年度之80,500,000港 元。

BUSINESS REVIEW

Acquisition of Manufacturing Business

Since 2010, the Group has been actively looking for attractive merger and acquisition opportunities in order to extend its business reach and to improve the Group’s financial performance. On 23 January 2011, the Group entered into a conditional sale and purchase agreement (as amended and restated on 27 July 2011) with four vendors including Mr. Yip Wai Lun, Alvin (“Mr. Yip”), the Chairman and Managing Director of the Company, on the acquisition of the entire issued share capital/ registered capital of Apex Solution Group Limited, Titron International Limited, Titron Industries Limited and its subsidiary, Titron Manufacturing Limited, Titron Precision Limited and its subsidiary 東莞德越電子塑膠 製品有限公司 (collectively the “Titron Group”) at a consideration of HK$120 million, satisfied by payment of HK$7.5 million cash and issue of convertible notes of face value HK$112.5 million. The acquisition was completed on 10 October 2011. On 30 December 2011, convertible notes with the face value of approximately HK$72.5 million was converted into 1,449,123,800 new shares of the Company in accordance with the agreement.

業務回顧

收購製造業務

自二零一零年以來，本集團一直積極物色具吸引 力之併購機遇以擴闊其業務範圍及改善本集團 之財務表現。於二零一一年一月二十三日，本集 團與四名賣方（包括本公司主席兼董事總經理葉 偉倫先生（「葉先生」））就收購鴻略集團有限公 司、德隆環球有限公司、德隆製造有限公司及其 附屬公司、德隆國際企業有限公司、德隆精密有 限公司及其附屬公司東莞德越電子塑膠製品有限 公司（統稱「德隆集團」）之全部已發行股本╱註 冊資本訂立有條件買賣協議（經於二零一一年七 月二十七日修訂及重列），代價為120,000,000 港元，支付方式為現金付款7,500,000港元加上 發行面值為112,500,000港元之可換股票據。 該收購已於二零一一年十月十日完成。於二零 一一年十二月三十日，面值約72,500,000港元 之可換股票據已根據該協議轉換為本公司之 1,449,123,800股新股份。

雋泰控股有限公司

9

2011 年報

Management Discussion and Analysis 管理層討論及分析

Continuing Operations

Manufacturing and sale of medical device products

This is a newly acquired business division which has started contributing to the results of the Group from 10 October 2011. Manufacturing of medical device products, owing to its stringent regulatory requirements, is an industry of very high entry barrier. The acquisition timing has saved the Group from an exploration and experimental stage and enabled the Group to enjoy a revenue contribution of about HK$7.6 million after its acquisition, with a segmental profit contribution of about HK$1.4 million. The Board anticipates a fast growing track in this new business division and is in the process of deploying more resources and efforts to facilitate its expansion.

Manufacturing and sale of plastic moulding products

This is another newly acquired business division that came with the medical device product business, and started contributing to the results of the Group from 10 October 2011. The Group recorded a postacquisition turnover of HK$35.5 million for the year under review, with a segmental profit of approximately HK$6.3 million.

Manufacturing and sale of data media products

For the year ended 31 December 2011, this division recorded a turnover of approximately HK$62.4 million, representing a decline of about 8.1% from previous years turnover level of about HK$67.9 million. However, after a series of successful measures in streamlining its operation and optimizing its resources, the segmental profit contribution for this year achieved HK$14.3 million, representing an improvement of about 6.5 times from last year’s profit contribution of HK$1.9 million. The Group, however, noticed a recessive market potential in this business sector and has therefore been working on re-directing its resources to other business sectors of better market potential.

Distribution of data media products

This segment continued to experience decline in turnover. Sales of HK$12.0 million was recorded this year, receding by 2.4% from last financial year’s HK$12.3 million. Despite the decrease in overall profit margin arising from the change in product mix for the year under review, this segment recorded a profit of about HK$0.3 million in this financial year, compared to a segment loss of about HK$0.6 million recorded for year 2010, for the reason that the significant impairment in inventories of about HK$2.0 million for this segment for the year ended 31 December 2010 was not incurred for the current year.

持續經營業務

製造及銷售醫療設備產品

此為新近收購之業務部門並自二零一一年十月 十日起為本集團貢獻業績。製造醫療設備產品因 其嚴格監管要求而屬一個進入門檻非常高之行 業。收購時機為本集團省去探索及試驗階段，並 於收購後為本集團帶來約7,600,000港元之收入 貢獻，並貢獻分部溢利約1,400,000港元。董事會 預計，此新業務部門將保持高速增長趨勢，並正 調配更多資源及努力以促進其擴展。

製造及銷售塑膠模具產品

此為另一個新近收購之業務部門，乃與醫療設備 產品業務伴隨而來，並自二零一一年十月十日 起為本集團貢獻業績。本集團於回顧年度錄得 收購後營業額35,500,000港元，而分部溢利約為 6,300,000港元。

製造及銷售數據媒體產品

截至二零一一年十二月三十一日止年度，此分 部錄得營業額約62,400,000港元，較過往年度約 67,900,000港元之營業額水平下降約8.1%。然 而，於成功實現一系列業務精簡及資源優化措施 後，本年度之分部溢利達到14,300,000港元，較 去年之溢利貢獻1,900,000港元改善約6.5倍。然 而，本集團注意到此業務部門可能出現市場倒退 狀況，因而正着手重新將其資源調配至具可觀市 場潛力之其他業務部門。

分銷數據媒體產品

此分部之營業額及溢利貢獻持續下跌。本年度 錄得銷售額12,000,000港元，較上一財政年度之 12,300,000港元減少2.4%。儘管因於回顧年度 產品組合變動令整體之毛利率下跌，該分部於本 財政年度錄得溢利約300,000港元，而於二零一 零年則錄得分部虧損約600,000港元，原因為於 本年度並無產生截至二零一零年十二月三十一 日止年度錄得存貨大幅減值約2,000,000港元所 致。

AMCO UNITED HOLDING LIMITED Annual Report 2011

10

Management Discussion and Analysis 管理層討論及分析

Discontinued Operations

Remanufacture and sale of computer printing and imaging products

The remanufacturing and sale of computer printing and imaging products, which had suffered substantial losses for a number of years, was discontinued during the year. Its failure was attributable to a combination of factors including continuous price raid by lowcost products flooded in the market, continuous increase in cost of production, and under-utilization of its facilities. The Board decided to discontinue this operation by voluntarily liquidating the subsidiary holding this line of business on 8 August 2011. A total of HK$8.4 million in turnover was recorded by this division prior to liquidation (2010: HK$73.7 million). Through terminating this business arm, the Group succeeded in containing the loss from this division at about HK$52.1 million (2010: HK$237.6 million).

已終止經營業務

環保再造及銷售電腦打印及影像產品

環保再造及銷售電腦打印及影像產品多年來蒙 受重大虧損，並於年內終止營運。此業務失利乃 因多項因素所致，其中包括低成本產品充斥市場 令價格持續受壓、生產成本持續上漲及其生產設 施利用不足。董事會決定於二零一一年八月八日 透過將持有此業務之附屬公司自動清盤而終止 經營此業務。該分部於清盤前錄得營業額合共 為8,400,000港元（二零一零年：73,700,000港 元）。透過終止此業務分部，本集團成功收窄此 分部之虧損至約52,100,000港元（二零一零年： 237,600,000港元）。

Trading and mining of mineral resources

During the year under review, no turnover was recorded during year 2011 (2010: HK$16.0 million) becease no profitable opportunity was identified in the area of trading of mineral resources. Accordingly, the directors decided to discontinue its trading and mining of mineral resources.

買賣及開採礦產資源

於回顧年度內，由於未能於買賣礦產資源領域物 識到可盈利機會，於二零一一年內並無錄得任何 營業額（二零一零年：16,000,000港元）。因此， 董事決定終止其買賣及開採礦產資源業務。

On mining busiess, taking into account the prevailing market conditions surrounding the investors’ interest in mining projects under exploration, the Board decided to terminate an acquisition agreement in respect of an investment in a company which indirectly held certain mines in the United States entered into by a subsidiary of the Company in 2009. Details of the termination of such agreement were set out in the Company’s announcement dated 22 March 2011 and 19 April 2011. No turnover had been generated from the mining business. The Group recorded loss of HK$29.2 million and HK$37.2 million in this business segment for the financial year ended 31 December 2011 and 31 December 2010 respectively.

就採礦業務而言，經考慮外圍市況及投資者對勘 探中採礦項目之興趣後，董事會決定終止就投資 一間於美國間接持有若干礦山之公司所訂立之 收購協議，該協議乃由本公司附屬公司於二零 零九年訂立。有關協議終止詳情載於本公司日 期為二零一一年三月二十二日及二零一一年四 月十九日之公佈。採礦業務並未帶來營業額。本 集團於截至二零一一年十二月三十一日及二零 一零十二月三十一日止財政年度錄得該業務分 部虧損分別為29,200,000港元及37,200,000港 元。

Change of Company Name

After the year end date, for the purpose of refreshing the Company’s corporate identity and reflecting the new development focus of the Group, the Company has changed its name to “AMCO United Holding Limited”「雋泰控股有限公司」(for identification purposes) from “Guojin Resources Holdings Limited”「國金資源控股有限公司」(for identification purposes) which has become effective on 20 February, 2012. The registration of the new English name of the Company in Hong Kong under Part XI of the Companies Ordinance took effect from 13 March 2012.

更改公司名稱

於年結日後，為重塑本公司之企業形象及反映 本集團新的發展重心，本公司已將其名稱由 “Guojin Resources Holdings Limited”（「國金資 源控股有限公司」（僅供識別之用））更改為 “AMCO United Holding Limited”（「雋泰控股有 限公司」（僅供識別之用）），有關更改已於二零 一二年二月二十日生效。本公司之新英文名稱於 香港根據公司條例第XI部之註冊已自二零一二 年三月十三日起生效。

雋泰控股有限公司 2011 年報

11

Management Discussion and Analysis 管理層討論及分析

FINANCIAL REVIEW

Capital and Debt Structure

As at 31 December 2011, the Group’s total net assets was approximately HK$81.1 million representing an improvement of approximately HK$213.3 million from its net liabilities position of approximately HK$132.2 million at 31 December 2010.

Facing the challenge to resolve the net liabilities position and liquidity constraints of the Group at beginning of this financial year, which could inhibit the Group’s continual operation as a going concern, the Company initiated and completed the following capital reorganization, debt restructuring, and fund raising exercises during the year under review:

1. Pursuant to a special resolution passed in a special general meeting of shareholders on 5 September 2011, the Company’s share capital was reorganized by a capital reduction of nominal value of issued shares, subdivision of unissued shares, and cancellation of share premium, which aggregate credit arising thereof were transferred to the contributed surplus account of the Company. Then the contributed surplus was applied to set off against the accumulated losses as permitted by the laws of Bermuda and the Bye-laws.

2. Pursuant to an ordinary resolution passed in a special general meeting of shareholders on 5 September 2011, the Company, Ugent and each of the Ugent Bondholders entered into redemption agreements, pursuant to which the Company redeemed the Ugent Bonds for an aggregate outstanding principal amount of HK$177.0 million and all accrued interest up to the date of the redemption. An aggregate amount of approximately HK$206.4 million, representing the aggregate of the entire outstanding principal amount of the Ugent Bonds plus the interest accrued and to be accrued up to and including 31 August 2011 was settled by the allotment and issue of 4,151,240,001 redemption shares at the issue price of HK$0.05 per redemption share.

財務回顧

資本及債務架構

於二零一一年十二月三十一日，本集團之資產淨 值總額約為81,100,000港元，較其於二零一零年 十二月三十一日為淨負債狀況約132,200,000港 元改善約213,300,000港元。

面臨須解決本集團於本財政年度初開始之淨負 債狀況及流動資金限制（可制約本集團持續經 營），本公司於回顧年度進行及完成下列股本重 組、債務重組以及集資活動：

1. 根據股東於二零一一年九月五日之股東 特別大會上通過之一項特別決議案，本 公司之股本已透過已發行股份面值之股 本削減、拆細未發行股份及註銷股份溢 價（所產生之合共進賬已轉撥至本公司 之繳入盈餘賬）予以重組。然後，繳入盈 餘乃於百慕達法律及細則許可之情況下 已用作抵銷累計虧損。

2. 根據股東於二零一一年九月五日之股東 特別大會上通過之一項普通決議案，本 公司、Ugent與各Ugent債券持有人訂立 贖回協議，據此，本公司贖回尚未償還 本金總額為177,000,000港元之Ugent債 券及直至贖回日期止之所有應計利息。 總額約206,400,000港元（指Ugent債券 全部尚未償還本金額加截至二零一一年 八月三十一日（包括該日）止之應計及將 予應計利息之總和）已透過按每股贖回 股份0.05港元之發行價配發及發行合共 4,151,240,001股贖回股份予以償付。

AMCO UNITED HOLDING LIMITED Annual Report 2011

12

Management Discussion and Analysis 管理層討論及分析

1. Pursuant to another ordinary resolution passed in a special general meeting of shareholders on 5 September 2011, upon successful approval and completion of the capital reorganization and Ugent bond redemption as mentioned in the above two paragraphs, the Company raised approximately HK$74.2 million, net of expenses, by issuing 1,654,125,555 rights shares to the then existing shareholders through a 11 rights shares for every 10 shares in issue. The net proceeds from the rights issue were fully allocated to strengthen the working capital of the Group.

2. 根據股東於二零一一年九月五日之股東 特別大會上通過之另一項普通決議案，於 成功批准及完成上文兩個段落所述之股 本重組及Ugent債券贖回後，本公司透過 按每10股已發行股份獲11股供股股份之 基準向當時現有股東發行1,654,125,555 股供股股份籌集約74,200,000港元（扣 除開支）。供股之所得款項淨額已悉數用 作鞏固本集團之營運資金。

In addition to the above exercises, convertible notes of face value of about HK$72.5 million issued on 10 October 2011 as partial consideration for the acquisition of the Titron Group as mentioned above were converted into 1,449,123,800 ordinary shares of the Company on 30 December 2011, which further enhanced the capital base of the Company.

除上述活動外，於二零一一年十月十日就作 為收購德隆集團之部份代價而發行面值約 為72,500,000港元之可換股票據（誠如上文 所述）已於二零一一年十二月三十日轉換為 1,449,123,800股本公司之普通股，此舉進一步 鞏固本集團之資本基礎。

More details of the abovementioned capital movements have been disclosed in relevant published announcements and/or circulars issued during the year under review.

上述股本變動之更多詳情已於回顧年度有關已 刊發公佈及╱或已發出之通函內披露。

At 31 December 2011, the Company has outstanding convertible notes issued as partial consideration for the acquisition of the Titron Group valued at approximately HK$26.5 million, of which, approximately HK$12.6 million was classified as current liabilities and approximately HK$13.9 million was classified as non-current liabilities due to their respective conversion conditions affecting their respective timing of convertibility.

於二零一一年十二月三十一日，本公司發行作 為收購德隆集團之部份代價之尚未行使可換股 票據之估值約為26,500,000港元，由於該等票 據各自之轉換條件影響其各自之可轉換時間， 故其中約12,600,000港元分類為流動負債及約 13,900,000港元分類為非流動負債。

As at 31 December 2011, the Group’s total bank borrowings plus finance lease obligations increased by HK$3.2 million to about HK$15.5 million, of which over 97% or about HK$15.0 million were repayable within one year. Most of the Group’s borrowings were denominated in Hong Kong dollars and subject to floating interest rates. Hence the risk of currency exposure was minimal. The Group’s total cash and bank balances amounted to approximately HK$49.6 million at 31 December 2011, which was about HK$11.7 million higher than the position of HK$37.9 million at previous year end date.

於二零一一年十二月三十一日，本集團之銀 行借貸總額加融資租約承擔增加3,200,000港 元至約15,500,000港元，其中超過97%或約 15,000,000港元須於一年內償還。本集團大部 分借貸均以港元計值，並按照浮動息率計息。 因此，貨幣風險甚低。於二零一一年十二月 三十一日，本集團之現金及銀行結餘總額約達 49,600,000港元，較上一年結日末之37,900,000 港元增加約11,700,000港元。

雋泰控股有限公司 2011 年報

13

Management Discussion and Analysis 管理層討論及分析

The Group’s net debt to equity ratio was 0.7 at 31 December 2011 while that of 31 December 2010 was a negative ratio of (1.7). The ratio was determined by trade and other payables, bank and other borrowings, obligations under finance leases and convertible bonds/notes less cash and cash equivalents over total equity/(capital deficiency).

Working Capital and Liquidity

As at 31 December 2011, the Group’s current ratio and quick ratio were 1.1 and 0.9 respectively (2010: 1.2 and 0.9 respectively). Inventory turnover on sales of continuing operations increased to 44 days which is 19 days longer than that of previous year. Receivable turnover of continuing operations was maintained at 47 days for both financial years 2011 and 2010.

CONTINGENT LIABILITIES AND CHARGES

As at 31 December 2011, the Group had pledged its assets with an aggregate net book value of HK$6 million (2010: HK$4 million) to secure bank facilities granted and finance lease obligations. The Group had no material contingent liabilities at 31 December 2011.

EMPLOYEES AND REMUNERATION POLICIES

As at 31 December 2011, the total number of employees of the Group was 373 (31 December 2010: 552) located in Hong Kong and mainland China. The remuneration packages of the Group’s employees are mainly determined based on their performance and experience, taking into account the prevailing industry practices. Remuneration packages of employees include salaries, insurance, mandatory provident fund and employee share options. Other employee benefits include medical cover, housing allowance and discretionary bonuses.

EVENTS AFTER THE REPORTING PERIOD

There is no significant event occurring after the reporting period.

FINAL DIVIDEND

No payment of dividends has been proposed by the Board in respect of the year ended 31 December 2011 (2010: Nil).

於二零一一年十二月三十一日，本集團之債務 淨額與股權比率為0.7，而二零一零年十二月 三十一日為負比率(1.7)。該比率乃以貿易及其 他應付款項、銀行及其他借貸、融資租約承擔及 可換股債券╱票據扣減現金及現金等價物除以 總權益╱（股本虧絀）總額計算。

營運資金及流動資金

於二零一一年十二月三十一日，本集團之流動比 率及速動比率分別為1.1及0.9（二零一零年：分 別為1.2及0.9）。持續經營業務之存貨銷售周轉 期上升至44日，較上一年度增加19天。持續經營 業務之應收賬款周轉期於二零一一年及二零一 零年兩個財政年度均維持在47天。

或然負債及抵押

於二零一一年十二月三十一日，本集團已抵押 其總賬面淨值6,000,000港元（二零一零年： 4,000,000港元）之資產作為獲授予之銀行信貸 及融資租約承擔之擔保。於二零一一年十二月 三十一日，本集團並無重大或然負債。

僱員及薪酬政策

於二零一一年十二月三十一日，本集團僱員總 人數為373人（二零一零年十二月三十一日：552 名）位於香港及中國大陸。本集團給予僱員之薪 酬組合主要按彼等之表現及經驗而定，並參考目 前行業慣例。僱員薪酬組合包括薪金、保險、強 制性公積金及僱員購股權計劃。其他僱員福利包 括醫療保障、房屋津貼及酌情花紅。

報告期後事項

報告期後概無重大事項發生。

末期股息

董事會不建議派發截至二零一一年十二月三十一 日止年度之股息（二零一零年：無）。

AMCO UNITED HOLDING LIMITED 14 Annual Report 2011

Profile of Directors and Senior Management 董事及高級管理人員簡介

DIRECTORS

Executive Directors

董事

執行董事

Mr. YIP Wai Lun, Alvin , aged 49, joined the Company as Executive Director on 27 July 2009 and was first re-designated as Deputy Chairman and Deputy Managing Director of the Company on 2 March 2010, and subsequently re-designated as Chairman and Managing Director of the Company on 29 October 2010. Mr. Yip, assuming leadership role of the Board, is responsible for formulating strategic plans, directing business development and overseeing daily management of the Group. Mr. Yip has over 25 years of experience as entrepreneur and key management in a variety of business, ranging from manufacturing and technology to transportation. He has also led in the formation and management of a number of joint ventures and partnership arrangement with multinationals.

葉偉倫先生 ，四十九歲，於二零零九年七月 二十七日加入本公司為執行董事，彼首先於二零 一零年三月二日調任為本公司副主席兼副董事 總經理，並隨後於二零一零年十月二十九日調任 為本公司主席兼董事總經理。葉先生擔任領導董 事會角色，負責制定策略規劃、指導業務發展及 監察本集團之日常管理。葉先生於多個行業（涵 蓋製造及科技以至運輸等行業）擁有逾二十五年 作為企業家及主要管理人員之經驗。彼亦曾領導 與跨國公司成立及管理多間合資企業及合夥安 排。

Ms. LEUNG Mei Han , aged 53, joined the Company as Executive Director on 1 January 2012 and is responsible for overseeing all corporate governance matters, leading in corporate finance functions and participating in business development projects of the Group. Ms. Leung graduated from the University of Queensland, Australia, with a bachelor degree in Commerce in February 1982. She is a fellow member of CPA Australia. Ms. Leung has extensive experience in accounting, securities, corporate finance and related areas. Ms. Leung has been providing corporate finance advisory services for securities and international merger and acquisition transactions.

梁美嫻女士 ，五十三歲，於二零一二年一月一日 加入本公司為執行董事，負責監督所有企業管治 事宜、領導企業融資職能，並參與本集團之業務 發展項目。梁女士於一九八二年二月畢業於澳洲 昆士蘭大學，取得商業學士學位。彼為澳洲註冊 會計師公會之資深會員。梁女士於會計、證券、 企業融資及相關範疇擁有豐富經驗。梁女士一直 為證券以及國際合併及收購交易提供企業融資 諮詢服務。

Ms. Leung is an independent non-executive director of each of Yue Da Mining Holdings Limited, Bossini International Holdings Limited, Four Seas Mercantile Holdings Limited and Xiangyu Dredging Holdings Limited, which are companies listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).

梁女士為悅達礦業控股有限公司、堡獅龍國際集 團有限公司、四洲集團有限公司及翔宇疏浚控股 有限公司各自之獨立非執行董事，上述公司均 於香港聯合交易所有限公司（「聯交所」）主板上 市。

雋泰控股有限公司

15

2011 年報

Profile of Directors and Senior Management 董事及高級管理人員簡介

DIRECTORS (continued)

Independent Non-executive Directors

Mr. LEUNG Ka Kui, Johnny , aged 54, joined the Company as Independent Non-executive Director on 28 January 2000 and holds a Bachelor of Laws of the University of London. Mr. Leung is a qualified solicitor in Hong Kong, England & Wales and Singapore, and is a Notary Public and China Appointed Attesting Officer. He has over 27 years of experience in legal field and is the senior partner of Messrs. Johnny K.K. Leung & Co., Solicitors & Notaries. Mr. Leung is currently an independent non-executive director of Net2Gather (China) Holdings Limited, the shares of which are listed on the Main Board of the Stock Exchange and Phoenitron Holdings Limited, the shares of which are listed on the Growth Enterprise Market of the Stock Exchange.

Mr. CHAN Kam Kwan, Jason , aged 38, joined the Company as Independent Non-executive Director on 11 August 2004 and holds a Bachelor Degree in Commerce from University of British Columbia, Canada and is a member of the American Institute of Certified Public Accountants. Mr. Chan has over 10 years’ experience in accounting and corporate finance. He has been working in a big-4 multinational audit firm and served a number of listed corporations. Mr. Chan is currently an executive director and the company secretary of China WindPower Group Limited and Wah Nam International Holdings Limited, the shares of which are listed on the Main Board of the Stock Exchange.

Mr. LAU Man Tak , aged 42, joined the Company as Independent Nonexecutive Director on 29 October 2010 and holds a bachelor degree in Accountancy from the Hong Kong Polytechnic University. He has more than 15 years of experience in corporate finance, accounting and auditing. He is a fellow member of the Association of Chartered Certified Accountants in the United Kingdom, an associate member of the Hong Kong Institute of Certified Public Accountants and a member of the Hong Kong Securities Institute. Mr. Lau is an executive director of China Grand Forestry Green Resources Group Limited and an independent nonexecutive director of each of Climax International Company Limited, Golden Resorts Group Limited and Kong Sun Holdings Limited, which are companies listed on the Main Board of the Stock Exchange. He was also a former executive director of Warderly International Holdings Limited from December 2007 to January 2010, the shares of which are listed on the Main Board of the Stock Exchange.

董事 （續）

獨立非執行董事

梁家駒先生 ，五十四歲，於二零零零年一月 二十八日加入本公司為獨立非執行董事，並持有 英國倫敦大學法律學士學位。梁先生為香港、英 國及新加坡之註冊律師，亦為國際公證人及中國 司法部委任公證律師。彼為梁家駒律師行之高級 合夥人，具有逾二十七年法律事務經驗。梁先生 現時亦為網融（中國）控股有限公司（其股份於 聯交所主板上市）及品創控股有限公司（其股份 於聯交所創業板上市）之獨立非執行董事。

陳錦坤先生 ，三十八歲，於二零零四年八月十一 日加入本公司為獨立非執行董事，並持有加拿大 英屬哥倫比亞大學商業學士學位及美國執業會計 師公會會員。陳先生在會計事務及公司財務方面 擁有逾十年經驗，曾於四大跨國核數師行及多間 上市公司工作。陳先生現為中國風電集團有限公 司及華南投資控股有限公司之執行董事兼公司秘 書，上述兩間公司之股份均於聯交所主板上市。

劉文德先生 ，四十二歲，於二零一零年十月 二十九日加入本公司為獨立非執行董事，並持有 香港理工大學會計學學士學位。彼於企業融資、 會計及審計方面擁有逾十五年經驗。彼為英國特 許公認會計師公會資深會員、香港會計師公會會 員及香港證券學會會員。劉先生為中國林大綠色 資源集團有限公司之執行董事以及英發國際有 限公司、黃金集團有限公司及江山控股有限公司 （該等公司之股份均於聯交所主板上市）各自之 獨立非執行董事。彼亦曾於二零零七年十二月 至二零一零年一月為匯多利國際控股有限公司 （其股份於聯交所主板上市）之前任執行董事。

AMCO UNITED HOLDING LIMITED Annual Report 2011

16

Profile of Directors and Senior Management 董事及高級管理人員簡介

SENIOR MANAGEMENT

高級管理人員

Mr. LYE Khay Fong , aged 71, is the Chairman of a main operating arm of the Group engaged in the business of OEM/ODM manufacturing and trading of consumer products and medical devices. Mr. Lye has over 30 years’ record of holding top management positions in corporations in Asia and worked for the Group since 2011. He is currently the Vice Chairman of the Singapore Chamber of Commerce (Hong Kong) and an Executive Committee member of the Chinese Manufacturers’ Association (Hong Kong).

黎其方先生 ，七十一歲，為本集團一間主要營業 部門（從事以原設備製造╱原設計製造方式製 造、買賣消費品及醫療設備業務）之主席。黎先 生擔任亞洲多間企業之高級管理層職務逾30年， 並自二零一一年起於本集團工作。彼現時為新加 坡商會（香港）之副主席及香港中華廠商聯合會 之執行委員會成員。

Mr. CHOW Kin Ming , aged 50, is the General Manager and Chief Financial Officer of the Group and is responsible for the daily administrative and financial functions of the Group. He graduated from the University of Hong Kong and is a qualified accountant. He has over 20 years of experience in accounting, finance and management in a wide variety of industries. He joined the Group in 2011.

周堅銘先生 ，五十歲，為本集團之總經理及財務 總監，負責本集團之日常行政及財務職能。彼畢 業於香港大學，並為合資格會計師。彼於多個行 業之會計、金融及管理方面擁有逾20年經驗。彼 於二零一一年加入本集團。

Mr. LEE Siew Yuen , aged 50, is an Executive Director of a main operating arm of the Group engaged in the business of OEM/ODM manufacturing and trading of consumer products and medical devices, in which, he is responsible for directing and providing oversight of its dayto-day management. He joined the Group in 2011.

李兆源先生 ，五十歲，為本集團一間主要營業部 門（從事以原設備製造╱原設計製造方式製造、 買賣消費品及醫療設備業務）之執行董事，負責 指導及監察日常管理。彼於二零一一年加入本集 團。

Mr. WONG Yick Chuen, Danny , aged 44, is the Assistant General Manager of data media operation. He is responsible for the manufacturing and marketing of the data media products. Mr. Wong graduated from the University of Toronto, Canada, with a Bachelor Degree in Applied Science in 1993. He joined the Group in 1994.

黃奕俊先生 ，四十四歲，為數據媒體經營之助理 總經理。彼負責數據媒體產品之製造及市場推 廣。黃先生於一九九三年在加拿大多倫多大學畢 業，取得應用科學學士學位。彼於一九九四年加 入本集團。

雋泰控股有限公司

17

2011 年報

Corporate Governance Report 企業管治報告

The board of directors of the Company (the “Board”) has always recognized the importance of shareholders’ accountability and transparency and is committed to maintain high standards of corporate governance. The Company has adopted the code provisions set out in the Code on Corporate Governance Practices (the “Code”) in Appendix 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited as its own code of corporate governance practice.

In the opinion of the Board, the Company has complied with the Code throughout the year ended 31 December 2011 except for certain deviations disclosed herein.

DIRECTORS’ SECURITIES TRANSACTIONS

The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (“Model Code”) set out in Appendix 10 to the Listing Rules as the code of conduct regarding securities transactions by its Directors. Having made specific enquiry, all Directors have confirmed that they have fully complied with the required standard set out in the Model Code during the year.

BOARD OF DIRECTORS

The Board is responsible for the leadership and control of the Group and oversees the Group’s businesses, strategic decisions and performance. The Board has delegated the day-to-day responsibility to the Executive Directors and senior management who perform their duties under the leadership of the Managing Director.

As at 28 March 2012, the Board comprised two Executive Directors and three Independent Non-executive Directors.

本公司董事會（「董事會」）明白股東之問責性及 透明度之重要性，並致力於維持高標準之企業管 治。本公司已採納香港聯合交易所有限公司證 券上市規則附錄十四所載之企業管治常規守則 （「守則」）所列之守則條文作為其本身之企業管 治常規守則。

董事會認為，於截至二零一一年十二月三十一日 止年度全年，本公司已遵守守則，惟本文所披露 之若干偏離除外。

董事之證券交易

本公司已採納上市規則附錄十所載之上市發行人 董事進行證券交易之標準守則（「標準守則」）， 作為其董事進行有關證券交易之行為守則。經向 全體董事作出特定查詢後，所有董事已確認彼 等於年內一直全面遵守標準守則所載之所須規 定。

董事會

董事會負責領導及管理本集團並監督本集團之 業務、決策及表現。董事會已將日常責任授權予 執行董事及高級管理人員，而彼等於董事總經理 領導下履行職責。

於二零一二年三月二十八日，董事會由兩名執行 董事及三名獨立非執行董事組成。

AMCO UNITED HOLDING LIMITED Annual Report 2011

18

Corporate Governance Report 企業管治報告

BOARD OF DIRECTORS (continued)

董事會 （續）

During the year, the Board held thirteen meetings. The Company Secretary assisted the Chairman and the Executive Directors in establishing the meeting agenda, and each Director was able to request inclusion of items in the agenda. All such meetings were convened in accordance with the Bye-laws of the Company. Under A.1.3 of the Code, notice of at least 14 days should be given of a regular board meeting to give all directors an opportunity to attend. During the year, certain Board meetings were convened with less than 14 days’ notice to enable the Board members to react timely and make expeditious decisions in respect of urgent commercial transactions which were significant in nature. As a result, the Board meetings were held with a shorter notice period than required with the consent of the Directors. The Board will do its best endeavour to meet the requirement of A.1.3 of the Code in the future. Adequate and appropriate information are circulated to the Directors normally three days in advance of Board meetings or such period accepted by them.

於年內，董事會舉行了十三次會議，公司秘書協 助主席及執行董事編製會議議程，各董事可要求 於議程中加入項目。所有該等會議均根據本公司 細則召開。根據守則第A.1.3條，應至少提前十四 天發出有關定期董事會會議之通告以給予全體 董事機會出席。於年內，本公司召開若干次少於 十四天通知之董事會會議，以便董事會成員對性 質上屬重大之緊急商業交易及時作出回應及迅 速決策。因此，董事會會議於董事同意下以較規 定之時間更短之通知期內舉行。日後董事會將盡 量符合守則之第A.1.3條規定。一般在董事會會 議舉行前三天或彼等接受之有關期間向董事傳 閱充足及適用資料。

Members of the Board and the attendance of each member during the year are as follows:

於年內，董事會成員及各董事之出席情況如下：

Directors and number of attendance

董事及出席次數

		Attended/Eligible
		to attend
Executive Directors	執行董事	出席╱合資格出席
Mr. Yip Wai Lun, Alvin (Chairman and	葉偉倫先生（主席兼董事總經理）	12/13
Managing Director)
Ms. Lam Suk Ling, Shirley (Note 1)	林淑玲女士（附註1）	13/13
Mr. Lee Cheuk Yin, Dannis (Note 2)	李卓然先生（附註2）	9/11
Mr. Ma Bo Ping (Note 3)	麻伯平先生（附註3）	5/6
Mr. Zhou Yu Sheng (Note 4)	周豫盛先生（附註4）	5/6
Independent Non-executive Directors	獨立非執行董事
Mr. Leung Ka Kui, Johnny	梁家駒先生	8/13
Mr. Chan Kam Kwan, Jason	陳錦坤先生	12/13
Mr. Lau Man Tak	劉文德先生	12/13

雋泰控股有限公司

19

2011 年報

Corporate Governance Report 企業管治報告

BOARD OF DIRECTORS (continued)

Notes:

1. Ms. Lam Suk Ling, Shirley resigned as an Executive Director of the Company on 31 December 2011.

2. Mr. Lee Cheuk Yin, Dannis resigned as an Executive Director of the Company on 31 October 2011.

3. Mr. Ma Bo Ping resigned as an Executive Director of the Company on 23 May 2011.

4. Mr. Zhou Yu Sheng resigned as an Executive Director of the Company on 23 May 2011.

The Company has received annual confirmations of independence from Mr. Leung Ka Kui, Johnny, Mr. Chan Kam Kwan, Jason and Mr. Lau Man Tak and considers them to be independent.

Given the nature and business objective of the Company, the Board has a balance of skill and experience appropriate for the requirements of the business of the Company. The list of current Directors and their respective biographies are set out on pages 15 to 16 of this Annual Report.

董事會 （續）

附註：

1. 林淑玲女士於二零一一年十二月三十一日辭 任本公司之執行董事。

2. 李卓然先生於二零一一年十月三十一日辭任 本公司之執行董事。

3. 麻伯平先生於二零一一年五月二十三日辭任 本公司之執行董事。

4. 周豫盛先生於二零一一年五月二十三日辭任 本公司之執行董事。

本公司已收到梁家駒先生、陳錦坤先生及劉文德 先生之本年度獨立性確認函，亦認同彼等之獨立 地位。

董事會已根據本公司性質及業務目標，維持適合 本公司業務需要之均衡技能及經驗。現任董事 名單及彼等各自的簡歷載於本年報第15至第16 頁。

AMCO UNITED HOLDING LIMITED Annual Report 2011

20

Corporate Governance Report 企業管治報告

CHAIRMAN AND MANAGING DIRECTOR

Under A.2.1 of the Code, the roles of chairman and chief executive officer should be separate and should not be performed by the same individual.

Mr. Yip was the Chairman and Managing Director of the Company (The Company regards the role of its managing director to be the same as that of chief executive officer under the Code) during the year ended 31 December 2011.

During the year under review, the Group has been streamlining its operations, including business development, operation efficiency and financial management. It is believed that during the transformation and rationalisation of the Group’s business, it would be in the best interest of its shareholders that the roles of the Chairman and the Managing Director of the Company be combined to enable a strong and delicated leadership to reposition the Company and implement effective measures to improve shareholders’ value. In this light, the Company has maintained Mr. Yip as the Chairman and the Managing Director of the Company. The Company will review the current structure when and as it becomes appropriate.

INDEPENDENT NON-EXECUTIVE DIRECTORS

Under A.4.1 of the Code, the non-executive directors should be appointed for a specific term, subject to re-election.

Currently, the three Independent Non-executive Directors are not appointed for a specific term but are subject to retirement by rotation and re-election at least once every three years at the annual general meeting of the Company in accordance with the provisions of the Byelaws of the Company, and their appointment will be reviewed when they are due for re-election.

主席及董事總經理

根據守則第A.2.1條，主席及行政總裁之職責須 分開，並不應由同一人士擔任。

截至二零一一年十二月三十一日止年度，葉先生 曾同時擔任本公司主席兼董事總經理（本公司視 董事總經理一職相當於守則所指之行政總裁）。

於回顧年度內，本集團已精簡業務，包括業務發 展、經營效率及財務管理。本集團相信，本集團 業務於轉型及優化過程中，本公司主席兼董事 總經理之職務合併有助堅實及敬業的領導以重 新將本公司定位及實施有效措施以提升股東價 值，並將符合股東最佳利益。有鑑於此，本公司 已保持葉先生留任本公司主席兼董事總經理。 本公司將於適當時候檢討現時架構。

獨立非執行董事

根據守則第A.4.1條，非執行董事應有指定委任 期，並須予重選。

現時，三名獨立非執行董事並非以指定任期委 任，惟根據本公司細則條文最少每三年於本公司 股東週年大會上輪值退任及重選，而彼等之任期 將於須重選時檢討。

雋泰控股有限公司

21

2011 年報

Corporate Governance Report 企業管治報告

REMUNERATION COMMITTEE

The Remuneration Committee was established with a specific written terms of reference.

薪酬委員會

本公司已設立薪酬委員會，並已訂立特定書面職 權範圍。

The Remuneration Committee is responsible for making recommendations to the Board on, among other things, the Company’s policy and structure for the remuneration of all Directors and senior management of the Company and is delegated by the Board with the responsibility to determine on behalf of the Board the specific remuneration packages for all Executive Directors and senior management of the Company. No individual director is involved in decisions relating to his own remuneration.

薪酬委員會負責向董事會提出有關（其中包括） 本公司所有董事及高級管理人員薪酬政策及結 構之建議，並獲董事會授權責任，代表董事會釐 定本公司所有執行董事及高級管理人員之具體 薪酬。概無董事參與釐定其本身之薪酬。

The Remuneration Committee comprises four Directors including the three Independent Non-executive Directors. During the year, the Remuneration Committee held one meeting.

薪酬委員會由四名董事組成，包括三名獨立非執 行董事。於年內，薪酬委員會舉行一次會議。

Members of the Remuneration Committee and the attendance of each member during the year are as follows:

於年內，薪酬委員會成員及各成員之出席情況如 下：

Directors and number of attendance

董事及出席次數

		Attended/Eligible
		to attend
Independent Non-executive Directors	獨立非執行董事	出席╱合資格出席
Mr. Leung Ka Kui, Johnny (Chairman)	梁家駒先生（主席）	1/1
Mr. Chan Kam Kwan, Jason	陳錦坤先生	1/1
Mr. Lau Man Tak	劉文德先生	1/1
Executive Directors	執行董事
Mr. Yip Wai Lun, Alvin	葉偉倫先生	1/1

During the year, the Remuneration Committee performed the following duties:

於年內，薪酬委員會已履行以下職責：

• (1) reviewed and recommended the remuneration packages of the Directors; and

• (1) 審閱及建議董事之薪酬待遇；及

• (2) reviewed the proposal for the grant of the share options under the Company’s share option scheme to certain eligible grantees to reward their contributions to the Group and recommended the Board to approve the grant of the share options.

• (2) 審閱根據本公司之購股權計劃向若干合資 格承授人授出購股權以獎勵彼等對本集團 之貢獻之建議及建議董事會批准授出購股 權。

AMCO UNITED HOLDING LIMITED Annual Report 2011

22

Corporate Governance Report 企業管治報告

NOMINATION OF DIRECTORS

The Company has not established a Nomination Committee during the year. The duties and functions of the Nomination Committee recommended in the Code are performed by the Board collectively with no Director being involved in fixing his/her own terms of appointment and no Independent Non-executive Director being involved in assessing his/her own independence.

New directors are sought mainly from referrals and internal promotion. In assessing whether a candidate is suitable for appointment as a director, the Board will consider relevant factors including the personal ethics, integrity, independence, experience, skills and time commitment. During the year, the Board nominated one Independent Non-executive Director and one Executive Director for re-election at the annual general meeting held on 4 August 2011. The Board assessed their suitability for re-election with reference to their personal background, skills and experience in their industry. In nominating the Independent Nonexecutive Director for re-election, the Board has also duly assessed his independence with reference to pre-determined guidelines. The Board also considered and accepted the resignation of Mr. Ma Bo Ping, Mr. Zhou Yu Sheng, Mr. Lee Cheuk Yin, Dannis and Ms. Lam Suk Ling, Shirley as Executive Directors of the Company and approved the appointment of Ms. Leung Mei Han as an Executive Director of the Company.

Subsequent to the financial year, the Board approved the establishment of a Nomination Committee with effect from 1 April 2012 comprising 3 members. The Nomination Committee is chaired by Mr. Yip, the Chairman and Managing Director of the Company. The other 2 members of the Nomination Committee are Mr. Chan Kam Kwan, Jason and Mr. Lau Man Tak. The terms of reference of the Nomination Committee are in line with the Code and include the following duties:

• (a) review the structure, size and composition (including the skills, knowledge and experience) of the Board at least annually and make recommendations on any proposed changes to the Board to complement the Company’s corporate strategy;

• (b) identify individuals suitably qualified to become Board members and select or make recommendations to the Board on the selection of individuals nominated for directorships;

• (c) assess the independence of Independent Non-executive Directors; and

• (d) make recommendations to the Board on the appointment or reappointment of directors and succession planning for directors, in particular the chairman and the chief executive.

董事之提名

本公司年內並未設立提名委員會。守則建議之提 名委員會職責及職能由董事會集體履行，且概無 董事參與釐定其本身之委任條款，亦無獨立非執 行董事參與評核其本身之獨立性。

本公司主要透過推薦及晉升提名新董事。在評估 候選者是否符合擔任董事時，董事會將會考慮個 人道德操守、廉正、獨立性、經驗、技能及可貢 獻時間等相關因素。年內，董事會於二零一一年 八月四日舉行之股東週年大會上就重選董事共 提名一名獨立非執行董事及一名執行董事。董事 會參考彼等個人背景、行業技能及經驗評估重選 之合資格性。於提名重選連任之獨立非執行董事 時，董事會亦會參考事先釐定之指引以適當評估 其獨立性。董事會亦考慮及接納麻伯平先生、周 豫盛先生、李卓然先生及林淑玲女士辭任為本公 司執行董事，並批准委任梁美嫻女士為本公司執 行董事。

於財政年度後，董事會批准成立由三名成員組成 之提名委員會，自二零一二年四月一日起生效。 提名委員會由本公司主席兼董事總經理葉先生 擔任主席。其他兩名提名委員會成員為陳錦坤先 生及劉文德先生。提名委員會之職權範圍符合守 則，並包括下列職責：

• (a) 至少每年檢討董事會之架構、人數及組成 （包括技能、知識及經驗方面），並就任何 為配合本公司之公司策略而擬對董事會作 出之變動提出建議；

• (b) 物色具備合適資格可擔任董事會成員之人 士，並挑選提名有關人士出任董事或就此 向董事會提供意見；

• (c) 評核獨立非執行董事之獨立性；及

• (d) 就董事委任或重新委任以及董事（尤其是 主席及行政總裁）繼任計劃向董事會提出 建議。

雋泰控股有限公司 2011 年報

23

Corporate Governance Report 企業管治報告

AUDIT COMMITTEE

審核委員會

The Audit Committee was established with a specific written terms of reference.

本公司已設立審核委員會，並已訂立特定書面職 權範圍。

The Audit Committee is responsible for reviewing and supervising the financial reporting process and internal control system of the Group and providing advice and comments to the Board.

審核委員會負責檢討及監察本集團之財務申報 過程及內部監控制度，並向董事會提供建議及意 見。

During the year, the Audit Committee held two meetings.

於年內，審核委員會舉行了兩次會議。

Members of the Audit Committee and the attendance of each member during the year are as follows:

於年內，審核委員會成員及各成員之出席情況如 下：

Directors and number of attendance

董事及出席次數

		Attended/Eligible
		to attend
Independent Non-executive Directors	獨立非執行董事	出席╱合資格出席
Mr. Chan Kam Kwan, Jason (Chairman)	陳錦坤先生（主席）	2/2
Mr. Leung Ka Kui, Johnny	梁家駒先生	1/2
Mr. Lau Man Tak	劉文德先生	2/2

During the year, the Audit Committee performed the following duties:

於年內，審核委員會已履行以下職責：

• (1) reviewed with the auditor the audited financial statements for the year ended 31 December 2010 and reviewed the unaudited interim financial statements for the six months ended 30 June 2011, with recommendations to the Board for approval;

• (1) 與核數師共同審閱截至二零一零年十二月 三十一日止年度之經審核財務報表，審閱 截至二零一一年六月三十日止六個月之未 經審核中期財務報表，並提出建議供董事 會批准；

• (2) reviewed report on internal control system covering financial, operational, procedural compliance and risk management functions;

• (2) 審閱有關財務、營運、程序遵規及風險管理 職能之內部監控系統報告；

• (3) reviewed the compliance issues with the regulatory and statutory requirements;

• (3) 審閱有關規管及法定要求之合規事宜；

AMCO UNITED HOLDING LIMITED Annual Report 2011

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Corporate Governance Report 企業管治報告

AUDIT COMMITTEE (continued)

審核委員會 （續）

• (4) reviewed with the management of the Company the accounting principles and practices adopted by the Group; and

• (4) 與本公司管理層審閱本集團所採納之會計 原則及慣例；及

• (5) reviewed and recommended to the Board the auditor’s appointment/reappointment and remuneration.

• (5) 審閱及向董事會建議核數師之委任╱續聘 及薪酬。

Mr. Chan Kam Kwan, Jason and Mr. Lau Man Tak, members of the Audit Committee, possess relevant professional qualifications and financial management expertise and meet the requirements of Rule 3.21 of the Listing Rules.

審核委員會成員陳錦坤先生及劉文德先生擁有 相關專業資格及財務管理專門技能，並符合上市 規則第3.21條之規定。

AUDITOR’S REMUNERATION AND CHANGE OF AUDITORS

核數師酬金及核數師變動

The Group was charged by the auditors the following auditing and nonauditing services during the year:

於年內，本集團支付核數師之核數及非核數服務 費如下：

		Fees paid/payable
Services rendered	提供的服務	已付╱應付費用
		HK$
		港元
Audit services	核數服務	880,000
Non-audit services	非核數服務	2,116,000

On 29 December 2011, SHINGWING (HK) CPA Limited resigned as the auditor of the Company and BDO Limited was appointed to fill the vacancy immediately following the resignation of SHINGWING (HK) CPA Limited and to hold office until the next annual general meeting of the Company.

於二零一一年十二月二十九日，信永中和（香 港）會計師事務所有限公司辭任本公司之核數 師，而香港立信德豪會計師事務所有限公司獲委 任以填補緊隨信永中和（香港）會計師事務所有 限公司辭任後之空缺，任期直至本公司下屆股東 週年大會止。

ACCOUNTABILITY AND AUDIT

問責性及審核

The Directors are responsible for the preparation of the financial statements of the Group for the relevant accounting periods under applicable statutory and regulatory requirements which give a true and fair view of the state of affairs, the results of operations and cash flows of the Group. In preparing the financial statements for the six months ended 30 June 2011 and for the year ended 31 December 2011, the Directors have adopted suitable accounting policies and applied them consistently. The accounts for the reporting year have been prepared on a going concern basis.

董事負責根據適用法定及規管規定編製相關會 計期間之本集團財務報表，以真實及公平反映本 集團之財務狀況、經營業績及現金流量。董事於 編製截至二零一一年六月三十日止六個月及截 至二零一一年十二月三十一日止年度財務報表 時，已採納適當會計政策並貫徹採用該等政策。 報告年度之賬目已根據持續經營基準編製。

雋泰控股有限公司 2011 年報

25

Corporate Governance Report 企業管治報告

ACCOUNTABILITY AND AUDIT (continued)

The responsibility of the auditor with respect to these financial statements are set out in the Independent Auditor’s Report on pages 44 to 46 of this Annual Report.

INTERNAL CONTROLS

The internal control system is designed to provide reasonable, but not absolute, assurance of no material misstatement or loss and to manage rather than eliminate risks of failure in operational systems and achievements of the Group’s objectives.

During the year, the Audit Committee reviewed and agreed that there are processes in place for identifying, evaluating and managing reasonably the material business risks faced by the Group. Such processes are incorporated in all businesses of the Group.

COMMUNICATION WITH SHAREHOLDERS

The Board recognizes the importance of good communication with all shareholders. The annual general meeting of the Company is a valuable avenue for the Board to enter into direct dialogue with shareholders. The Chairman of the Board, Mr. Yip, and members of Board committees attended the annual general meeting held on 4 August 2011 to answer any question. In addition, the Company convened special general meetings during the year to approve transactions in accordance with the Listing Rules and the corporate governance procedures of the Company. These provided further opportunities for shareholders to comment and vote on specific transactions.

The interim and annual reports of the Company are dispatched to shareholders in a timely manner before the time limits laid by statutory and Listing Rules requirements to ensure effective communication with shareholders.

問責性及審核 （續）

核數師對該等財務報表應負之責任載於本年報 第44至46頁之獨立核數師報告內。

內部監控

內部監控制度之目的乃為合理（但非絕對）保證 概無重大不實陳述或遺漏，並管理（而非消除） 營運制度不足及未能達致本集團所訂目標之風 險。

年內，審核委員會已審閱及同意合理確認、評估 及管理本集團所面對之重大業務風險所備有之 程序。該等程序均應用於本集團之所有業務中。

與股東之溝通

董事會明白與所有股東保持良好溝通之重要性。 本公司股東週年大會乃董事會與股東直接對話 之重要途徑。董事會主席葉先生及董事委員會成 員均已出席於二零一一年八月四日舉行之股東 週年大會並於會上回答任何提問。此外，本公司 已於年內根據上市規則及本公司之企業管治程 序召開股東特別大會以批准有關交易。股東特別 大會為股東提供更多機會對特定交易提出意見 及投票。

本公司中期報告及年報均於法定及上市規則規 定之時限前及時寄發予股東，以確保與股東保持 有效之溝通。

AMCO UNITED HOLDING LIMITED Annual Report 2011

26

Directors’ Report 董事會報告

The Directors submit herewith their report together with the audited consolidated financial statements for the year ended 31 December 2011.

PRINCIPAL ACTIVITIES

The Company acts as an investment holding company. The principal activities of its principal subsidiaries are set out in note 33 to the consolidated financial statements.

RESULTS AND APPROPRIATIONS

The results of the Group for the year ended 31 December 2011 are set out in the consolidated statement of comprehensive income on pages 47 to 49 of this Annual Report.

The Directors do not recommend the payment of a dividend.

FINANCIAL SUMMARY

A summary of the results and of the assets and liabilities of the Group for the past five financial years is set out on page 184.

PROPERTY, PLANT AND EQUIPMENT

The Group’s leasehold land and buildings were revalued at 31 December 2011. The revaluation deficit of HK$227,000, net of deferred tax charge of nil have been charged to profit or loss.

Details of these and other movements during the year in the property, plant and equipment of the Group are set out in note 17 to the consolidated financial statements.

董事謹此提呈截至二零一一年十二月三十一日 止年度之報告及經審核綜合財務報表。

主要業務

本公司為一間投資控股公司，其主要附屬公司之 主要業務載於綜合財務報表附註33。

業績及分配

本集團截至二零一一年十二月三十一日止年度 之業績載於本年報第47頁至第49頁之綜合全面 收益表內。

董事不建議派付股息。

財務概要

本集團過去五個財政年度之業績以及資產及負 債概要載於第184頁內。

物業、廠房及設備

於二零一一年十二月三十一日，本集團之租賃土 地及樓宇進行重估。重估虧絀227,000港元（經 扣除遞延稅項開支零港元後）已於損益內扣除。

本集團於本年度之物業、廠房及設備有關及其他 變動詳情載於綜合財務報表附註17內。

雋泰控股有限公司

27

2011 年報

Directors’ Report 董事會報告

SHARE CAPITAL

Details of these movements during the year in the share capital are set out in note 29 to the consolidated financial statements.

During the year, neither the Company nor any of its subsidiaries repurchased, sold or redeemed any of the Company’s shares.

DISTRIBUTABLE RESERVES OF THE COMPANY

In the opinion of the Directors, there is no reserve of the Company which is available for distribution to shareholders at 31 December 2011 and 31 December 2010.

DIRECTORS

The Directors of the Company during the year and up to date of this report were:

Executive Directors

Mr. Yip Wai Lun, Alvin (Chairman and Managing Director) Ms. Leung Mei Han (appointed on 1 January 2012) Ms. Lam Suk Ling, Shirley (resigned on 31 December 2011)

Mr. Lee Cheuk Yin, Dannis (resigned on 31 October 2011) Mr. Ma Bo Ping (resigned on 23 May 2011) Mr. Zhou Yu Sheng (resigned on 23 May 2011)

Independent Non-executive Directors

Mr. Leung Ka Kui, Johnny

Mr. Chan Kam Kwan, Jason

Mr. Lau Man Tak

In accordance with the Bye-laws of the Company, the Directors retiring by rotation at the forthcoming annual general meeting will be Mr. Chan Kam Kwan, Jason and Mr. Lau Man Tak, who being eligible, will offer themselves for re-election.

股本

本公司於本年度之股本變動詳情載於綜合財務 報表附註29內。

本年度內，本公司或任何其附屬公司均無購買、 出售或贖回本公司任何股份。

本公司可供分派儲備

董事認為，於二零一一年十二月三十一日及二零 一零年十二月三十一日，本公司並無可供分派予 股東之儲備。

董事

於本年度及截至本報告日期，本公司之董事如 下：

執行董事

葉偉倫先生（主席兼董事總經理） 梁美嫻女士（於二零一二年一月一日獲委任） 林淑玲女士（於二零一一年十二月三十一日 辭任）

李卓然先生（於二零一一年十月三十一日辭任） 麻伯平先生（於二零一一年五月二十三日辭任） 周豫盛先生（於二零一一年五月二十三日辭任）

獨立非執行董事

梁家駒先生 陳錦坤先生 劉文德先生

根據本公司細則，於應屆股東週年大會上輪值告 退之董事將為陳錦坤先生及劉文德先生；彼等均 合資格並願膺選連任。

AMCO UNITED HOLDING LIMITED Annual Report 2011

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Directors’ Report 董事會報告

DIRECTORS’ SERVICE CONTRACTS

No Director proposed for re-election at the forthcoming annual general meeting has a service contract which is not determinable by the Group within one year without payment of compensation (other than statutory compensation).

DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS AND SHORT POSITIONS IN SHARES, UNDERLYING SHARES AND DEBENTURES

As at 31 December 2011, the interests or short positions of the Directors and chief executives of the Company in the shares, underlying shares and debentures of the Company or any of its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance (“SFO”)) as recorded in the register required to be kept by the Company under Section 352 of the SFO, or as otherwise notified to the Company and The Stock Exchange of Hong Kong Limited (“Stock Exchange”) pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers, were as follows:

董事之服務合約

擬於應屆股東週年大會上重選連任之董事並無 任何本集團不可於一年內無償終止（法定補償除 外）之服務合約。

董事及最高行政人員於股份、相關 股份及債券之權益及淡倉

於二零一一年十二月三十一日，本公司各董事及 最高行政人員於本公司或其任何相聯法團（定 義見證券及期貨條例（「證券及期貨條例」）第XV 部）之股份、相關股份及債券中擁有根據證券及 期貨條例第352條須列入本公司置存之登記冊 內或須根據上市發行人董事證券交易標準守則 知會本公司及香港聯合交易所有限公司（「聯交 所」）之權益或淡倉如下：

Long positions

1. Shares and underlying shares of the Company

好倉

1. 本公司股份及相關股份

Name of Director Capacity 董事姓名 身份	Number of ordinary shares Number of underlying shares held under share options Number of underlying shares held under performance incentive agreement Total Percentage of the issued share capital of the Company Personal interests Corporate interests 普通股數目 根據購股權 持有相關 股份數目 根據履約獎勵 協議持有相關 股份數目 總計 佔本公司 已發行 股本百分比 個人權益 公司權益
Mr. Yip Wai Lun, Alvin Interest of controlled corporation 葉偉倫先生 受控制公司之權益 Mr. Leung Ka Kui, Johnny Beneficial owner 梁家駒先生 實益擁有人 Mr. Chan Kam Kwan, Jason Beneficial owner 陳錦坤先生 實益擁有人	– 1,462,889,220 (Note 1) – 6,720,000,000 (Note 2) 8,182,889,220 93.43% （附註1） （附註2） 290,000 – 1,495 – 291,495 0.00% – – 1,495 – 1,495 0.00%

Notes:

1. These shares were held by Almeco United Group Limited as to 1,456,589,220 and Titron Group Holdings Limited as to 6,300,000. Each of Almeco United Group Limited and Titron Group Holdings Limited was owned by Mr. Yip as to 100% directly and 42.5% indirectly. Accordingly, Mr. Yip was deemed to be interested in these 1,462,889,220 shares by virtue of the SFO.

2. A maximum number of 6,720,000,000 shares is potentially entitled by Atlas Medical Limited, which was 50% owned by Mr. Yip and 50% owned by Mr. Lye Khay Fong respectively. Accordingly, Mr. Yip was deemed to be interested in these 6,720,000,000 shares by virtue of the SFO.

附註：

1. 1,456,589,220股股份及6,300,000股股 份分別由Almeco United Group Limited 及Titron Group Holdings Limited持有。 Almeco United Group Limited及Titron Group Holdings Limited各自由葉先生直 接及間接持有100%及42.5%股權，故 此，根據證券及期貨條例，葉先生被視為 該等1,462,889,220股股份中擁有權益。

2. 上限為6,720,000,000股股份之潛在權益 由Atlas Medical Limited擁有，由葉先生 及黎其方先生各自擁有50%。因此，根 據證券及期貨條例，葉先生被視為於該 等6,720,000,000股股份中擁有權益。

雋泰控股有限公司 2011 年報

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Directors’ Report 董事會報告

DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS AND SHORT POSITIONS IN SHARES, UNDERLYING SHARES AND DEBENTURES

董事及最高行政人員於股份、相關 股份及債券之權益及淡倉 （續）

(continued)

Long positions (continued)

1. Interest in debenture of the Company

好倉 （續）

2. 於本公司債券之權益

				Percentage of
		Amount of		total debenture
Name of Director	Capacity	debenture held	Class of debenture	of the Company
				佔本公司債券
董事姓名	身份	所持債券金額	債券類別	總額之百分比
Mr. Yip Wai Lun, Alvin	Beneficial owner	HK$14,418,905	Freely transferable and	36.01%
			convertible into the
			shares of the Company
葉偉倫先生	實益擁有人	14,418,905港元	可自由轉讓及可兌換為本公
			司股份

Save as disclosed above, none of the Directors or chief executives of the Company had any interests or short position in any shares, underlying shares and debenture of the Company or any of its associated corporations within the meaning of Part XV of the SFO as recorded in the register required to be kept by the Company under Section 352 of the SFO, or as otherwise notified to the Company and the Stock Exchange pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers and none of the Directors or chief executives, or their spouses or children under the age of 18, had any right to subscribe for the securities of the Company, or had exercised any such right during the year.

除上文所披露者外，本公司董事或最高行政人員 概無於本公司或其任何相聯法團（定義見證券及 期貨條例第XV部）之股份、相關股份及債券中擁 有根據證券及期貨條例第352條須列入本公司置 存之登記冊內或須根據上市發行人董事證券交 易標準守則知會本公司及聯交所之任何權益或 淡倉，而各董事、最高行政人員或彼等之配偶或 未滿十八歲之子女概無認購本公司證券之任何 權利，在年內亦無行使任何該等權利。

AMCO UNITED HOLDING LIMITED Annual Report 2011

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Directors’ Report 董事會報告

SHARE OPTIONS

購股權

Particulars of the Company’s share option scheme are set out in note 32 to the consolidated financial statements.

本公司之購股權計劃之資料載於綜合財務報表 附註32內。

The following table discloses movements in the Company’s share options during the year ended 31 December 2011:

下表披露本公司之購股權於截至二零一一年十二 月三十一日止年度內之變動：

Name of participants Date of share option granted Share option scheme category Outstanding at beginning of the year Granted during the year Exercised during the year Cancelled/ Lapsed before Capital Reorganisation and Rights Issue Adjustment due to Capital Reorgani- sation and Rights Issue Cancelled/ Lapsed after Capital Reorgani- sation and Rights Issue Outstanding at end of the year Subscription price Exercise period (Note (1) and (2)) (Note (3) and (4)) (Note (3) and (4)) (Note (3) and (4)) HK$ 參與者姓名 購股權 授出日期 購股權 計劃類別 於年初 尚未行使 於年內授出 於年內行使 於股本 重組及供股前 註銷╱失效 因股本 重組及供股而 作出之調整 於股本 重組及供股後 註銷╱失效 於年末 尚未行使 認購價 行使期 (附註(1) 及(2)) （附註(3)及(4)）（附註(3)及(4)）（附註(3)及(4)） 港元

Name of participants Date of share option granted Share option scheme category Outstanding at beginning of the year Granted during the year Exercised during the year Cancelled/ Lapsed before Capital Reorganisation and Rights Issue Adjustment due to Capital Reorgani- sation and Rights Issue Cancelled/ Lapsed after Capital Reorgani- sation and Rights Issue Outstanding at end of the year Subscription price Exercise period (Note (1) and (2)) (Note (3) and (4)) (Note (3) and (4)) (Note (3) and (4)) HK$ 參與者姓名 購股權 授出日期 購股權 計劃類別 於年初 尚未行使 於年內授出 於年內行使 於股本 重組及供股前 註銷╱失效 因股本 重組及供股而 作出之調整 於股本 重組及供股後 註銷╱失效 於年末 尚未行使 認購價 行使期 (附註(1) 及(2)) （附註(3)及(4)）（附註(3)及(4)）（附註(3)及(4)） 港元

Directors 董事 Mr. Leung Ka Kui, Johnny 25.1.2005 200 梁家駒先生 Mr. Chan Kam Kwan, Jason 25.1.2005 200 陳錦坤先生 Ms. Ho Yin King, Helena (Note (6)) 何燕琼女士 （附註(6)） 25.1.2005 200 Mr. Ma Bo Ping (Note (7)) 麻伯平先生 （附註(7)） 6.5.2011 201 Mr. Zhou Yu Sheng (Note (7)) 周豫盛先生 （附註(7)） 6.5.2011 201 Total for directors 董事合計

5 1,542 – – – (47) – 1,495 0.1629 (Note (5)(a)) 25.1.2005 – 24.1.2015 （附註(5)(a)） 5 1,542 – – – (47) – 1,495 0.1629 (Note (5)(a)) 25.1.2005 – 24.1.2015 （附註(5)(a)） 5 628 – – (628) – – – 0.1629 (Note (5)(a)) 25.1.2005 – 24.1.2015 （附註(5)(a)） 1 – 10,000,000 – – (300,000) – 9,700,000 0.2097 (Note (5)(c)) 6.5.2011 – 5.5.2013 （附註(5)(c)） 1 – 10,000,000 – – (300,000) – 9,700,000 0.2097 (Note (5)(c)) 6.5.2011 – 5.5.2013 （附註(5)(c)） 3,712 20,000,000 – (628) (600,094) – 19,402,990

雋泰控股有限公司

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2011 年報

Directors’ Report 董事會報告

SHARE OPTIONS (continued) 購股權 （續）

Name of participants Date of share option granted Share option scheme category Outstanding at beginning of the year Granted during the year Exercised during the year Cancelled/ Lapsed before Capital Reorganisation and Rights Issue Adjustment due to Capital Reorgani- sation and Rights Issue Cancelled/ Lapsed after Capital Reorgani- sation and Rights Issue Outstanding at end of the year Subscription price Exercise period (Note (1) and (2)) (Note (3) and (4)) (Note (3) and (4)) (Note (3) and (4)) HK$ 參與者姓名 購股權 授出日期 購股權 計劃類別 於年初 尚未行使 於年內授出 於年內行使 於股本 重組及供股前 註銷╱失效 因股本 重組及供股而 作出之調整 於股本 重組及供股後 註銷╱失效 於年末 尚未行使 認購價 行使期 (附註(1) 及(2)) （附註(3)及(4)）（附註(3)及(4)）（附註(3)及(4)） 港元

Name of participants Date of share option granted Share option scheme category Outstanding at beginning of the year Granted during the year Exercised during the year Cancelled/ Lapsed before Capital Reorganisation and Rights Issue Adjustment due to Capital Reorgani- sation and Rights Issue Cancelled/ Lapsed after Capital Reorgani- sation and Rights Issue Outstanding at end of the year Subscription price Exercise period (Note (1) and (2)) (Note (3) and (4)) (Note (3) and (4)) (Note (3) and (4)) HK$ 參與者姓名 購股權 授出日期 購股權 計劃類別 於年初 尚未行使 於年內授出 於年內行使 於股本 重組及供股前 註銷╱失效 因股本 重組及供股而 作出之調整 於股本 重組及供股後 註銷╱失效 於年末 尚未行使 認購價 行使期 (附註(1) 及(2)) （附註(3)及(4)）（附註(3)及(4)）（附註(3)及(4)） 港元

Employees 僱員 25.1.2005 200 29.1.2010 201 Total for employees 僱員合計 Total under New Scheme 新計劃項下總數 Notes:

附註： 5 189,256 – – – (5,676) – 183,580 0.1629 (Note (5)(a)) 25.1.2005 – 24.1.2015 （附註(5)(a)） 0 78,988,000 – – (23,278,000) (1,671,300) (5,949,980) 48,088,720 0.8103 (Note (5)(b)) 29.1.2010 – 28.1.2012 （附註(5)(b)） 79,177,256 – – (23,278,000) (1,676,976) (5,949,980) 48,272,300 Percentage to total Company’s shares in issue at end of the period 佔本公司於期末已發行股份總數百分比 79,180,968 20,000,000 – (23,278,628) (2,277,070) (5,949,980) 67,675,290 0.77%

• (1) The 2005, 2010 and 2011 options were granted under scheme adopted on 12 June 2004.

• (1) 2005、2010及2011購股權乃根據於二零零四 年六月十二日採納之計劃授出。

• (2) The closing price of the Company’s shares immediately before 25 January 2005, 29 January 2010 and 6 May 2011, the dates of grant of 2005, 2010 and 2011 options, were HK$0.159, HK$0.750 and HK$0.202 respectively.

• (2) 本公司股份緊接二零零五年一月二十五日、 二零一零年一月二十九日及二零一一年五月 六日（2005、2010及2011購股權的授出日期） 前的收市價分別為0.159港元、0.750港元及 0.202港元。

• (3) Subdivision of shares on the basis that every issued and unissued share of HK$0.10 was subdivided into 10 shares of HK$0.01 each, effective on 4 October 2011 (“Capital Reorganisation”), details of which are referred to in the announcement of the Company dated 7 October 2011.

• (3) 股份分拆乃按每股0.10港元之已發行及未發 行股份分拆為10股每股0.01港元之股份之基 準進行，於二零一一年十月四日生效（「股本 重組」），詳情請參閱本公司日期為二零一一 年十月七日之公佈。

AMCO UNITED HOLDING LIMITED Annual Report 2011

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Directors’ Report 董事會報告

SHARE OPTIONS (continued)

• (4) Issue of 1,654,125,555 rights shares on the basis of 11 rights shares for every 10 shares at HK$0.05 per rights share and pursuant to the prospectus of the Company dated 15 September 2011 was completed on 7 October 2011 (“Rights Issue”), details of which are referred to in the announcement of the Company dated 7 October 2011.

• (5) As a result of the Capital Reorganisation and Rights Issue, adjustments were made to the number of ordinary shares to be allotted and issued upon exercise of the subscription rights attaching to all these share options then outstanding granted under the share option scheme by the decrease of:

• (a) 192,340 ordinary shares to 186,570 ordinary shares and the exercise prices of the outstanding options were adjusted from HK$0.158 per ordinary share to HK$0.1629 per ordinary share, effective from 10 October 2011;

• (b) 55,710,000 ordinary shares to 54,038,700 ordinary shares and the exercise prices of the outstanding options were adjusted from HK$0.786 per ordinary share to HK$0.8103 per ordinary share, effective from 10 October 2011; and

• (c) 20,000,000 ordinary shares to 19,400,000 ordinary shares and the exercise prices of the outstanding options were adjusted from HK$0.2034 per ordinary share to HK$0.2097 per ordinary share, effective from 10 October 2011.

• (6) Ms. Ho Yin King, Helena resigned as the Chairman and the Managing Director of the Company on 18 October 2010.

• (7) Mr. Ma Bo Ping and Mr. Zhou Yu Sheng resigned as Executive Directors of the Company on 23 May 2011.

ARRANGEMENTS TO PURCHASE SHARES OR DEBENTURES

Other than the share option holdings disclosed above, at no time during the year was the Company or any of its subsidiaries, a part to any arrangements to enable the Directors of the Company to acquire benefits by means of the acquisition of shares in, or debentures of, the Company or any other body corporate.

購股權 （續）

• (4) 按每十股股份獲發十一股供股股份之基準以每 股0.05港元發行1,654,125,555股供股股份， 及根據本公司日期為二零一一年九月十五日 之招股章程，供股已於二零一一年十月七日完 成（「供股」），詳情請參閱本公司日期為二零 一一年十月七日之公佈。

• (5) 由於股本重組及供股，於行使根據購股權計劃 授出之該等當時尚未行使購股權所附帶之認 購權後將予配發及發行之普通股股份數目將 透過扣減：

• (a) 192,340股普通股至186,570股普通股 以及尚未行使購股權之行使價則由每 股普通股0.158港元調整至每股普通股 0.1629港元，自二零一一年十月十日起 生效；

• (b) 55,710,000股普通股至54,038,700股普 通股以及尚未行使購股權之行使價則由 每股普通股0.786港元調整至每股普通 股0.8103港元，自二零一一年十月十日 起生效；及

• (c) 20,000,000股普通股至19,400,000股普 通股以及尚未行使購股權之行使價則由 每股普通股0.2034港元調整至每股普通 股0.2097港元，自二零一一年十月十日 起生效。

• (6) 何燕琼女士已於二零一零年十月十八日辭任 本公司主席兼董事總經理。

• (7) 麻伯平先生及周豫盛先生已於二零一一年五 月二十三日辭任本公司執行董事。

購買股份或債券之安排

除上文披露之購股權持有情況外，本公司或其任 何附屬公司於年內概無訂立任何安排，使本公司 董事可藉購入本公司或任何其他法團之股份或 債券而獲益。

雋泰控股有限公司

33

2011 年報

Directors’ Report 董事會報告

DIRECTORS’ INTERESTS IN CONTRACTS OF SIGNIFICANCE

Apart from the transactions disclosed under the heading “Related Party Transactions” as set out in Note 36 to the consolidated financial statements, there were no other contracts of significance in relation to the Group’s business, to which the Company, its holding company, any of its subsidiaries or fellow subsidiaries was a party and in which a Director of the Company had a material interest, whether directly or indirectly, subsisting at the end of the year or at anytime during the year.

CONNECTED TRANSACTIONS

Pursuant to Chapter 14A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules”), the Company discloses the following connected transactions and continuing connected transaction incurred during the year.

As connected transactions:

On 23 January 2011, the Group entered into a conditional sale and purchase agreement (as amended and restated on 27 July 2011) with Mr. Yip, the Chairman and Managing Director of the Company, and other three vendors on the acquisition of the entire issued share capital/ registered capital of Apex Solution Group Limited, Titron International Limited, Titron Industries Limited and its subsidiary, Titron Manufacturing Limited, Titron Precision Limited and its subsidiary, and 東莞德越電子 塑膠製品有限公司 at a consideration of HK$120 million, satisfied by payment of HK$7.5 million cash and issue of convertible notes of face value HK$112.5 million. The acquisition was completed on 10 October 2011. On 30 December 2011, convertible notes with the face value of approximately HK$72.5 million was converted into 1,449,123,800 new shares of the Company in accordance with the agreement.

董事於重要合約之權益

除綜合財務報表附註36所載「關連人士交易」項 下所披露之交易外，概無有關本集團業務、而本 公司、其控股公司、其任何附屬公司或同系附屬 公司為訂約方而於年末或於年內任何時間仍然 存續之其他重大合約，而本公司董事於當中直接 或間接擁有重大權益。

關連交易

根據香港聯合交易所有限公司證券上市規則 （「上市規則」）第14A章，本公司披露於年內進行 之下列關連交易及持續關連交易。

作為關連交易

於二零一一年一月二十三日，本集團與本公司 主席兼董事總經理葉先生及其他三名賣方就收 購鴻略集團有限公司、德隆環球有限公司、德 隆製造有限公司及其附屬公司、德隆國際企業 有限公司、德隆精密有限公司及其附屬公司， 以及東莞德越電子塑膠製品有限公司全部已發 行股本╱註冊資本訂立一項有條件買賣協議 （經於二零一一年七月二十七日修訂及重列）， 代價為120,000,000港元，透過現金7,500,000 港元，及發行可換股票據面值112,500,000港 元支付。是項收購已於二零一一年十月十日完 成。於二零一一年十二月三十日，根據協議， 面值約72,500,000港元之可換股票據已轉換成 1,449,123,800股本公司新股份。

AMCO UNITED HOLDING LIMITED Annual Report 2011

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Directors’ Report 董事會報告

CONNECTED TRANSACTIONS (continued)

On 20 June 2011, the Company entered into an underwriting agreement with Mr. Yip and Kingsway Financial Services Group Limited, pursuant to which Mr. Yip agreed to underwrite the first 896,589,220 Rights Shares (as defined in the circular of the Company dated 12 August 2011 (“Circular”)) not taken by the Qualifying Shareholders (as defined in the Circular) at the underwriting commission at the rate of 2.5% of the aggregate proceeds from the rights issue priced at HK$0.05 per Rights Share. The Company paid HK$1.1 million to Mr. Yip as the underwriting commission upon the completion of the underwriting agreement.

As continuing connected transactions:

On 4 March 2011, the Company, Energy Best Investments Limited (a wholly owned subsidiary of the Company) and Atlas Medical Limited (“Atlas”), entered into the Performance Incentive Agreement (as amended and restated on 27 July 2011) with the approval of the Board, pursuant to which it was agreed between the parties that the Company would make payments to Atlas for services (“Services”, as described below) provided by Atlas thereunder during the service periods as referred to in the performance incentive agreement. Atlas is an associate of Mr. Yip. More particulars of the performance incentive agreement were disclosed in the announcements of the Company dated 25 January 2011, 21 June 2011 and 27 July 2011 and circular dated 12 August 2011.

關連交易 （續）

於二零一一年六月二十日，本公司與葉先生及滙 富金融服務有限公司訂立包銷協議，據此，葉先 生同意包銷以每股供股股份0.05港元之合計供股 價之2.5%利率計算包銷佣金之未獲合資格股東 （定義見該通函）接納之首批896,589,220股供股 股份（定義見本公司日期為二零一一年八月十二 日之通函（「該通函」））。本公司於包銷協議完 成時向葉先生支付1,100,000港元包銷佣金。

作為持續關連交易

於二零一一年三月四日，經董事會批准，本 公司、Energy Best Investments Limited（本公 司之全資附屬公司）及Atlas Medical Limited （「Atlas 」）訂立履約獎勵協議（經於二零一一年 七月二十七日修訂及重訂），據此，訂約方協定， 本公司將就Atlas於履約獎勵協議所述服務期間 內所提供之服務（「該等服務」，誠如下文所述） 向Atlas作出付款。Atlas為葉先生之聯繫人士。有 關履約獎勵協議之更多詳情乃於本公司日期為 二零一一年一月二十五、二零一一年六月二十一 日及二零一一年七月二十七日之公佈及日期為 二零一一年八月十二日之通函內披露。

雋泰控股有限公司

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2011 年報

Directors’ Report 董事會報告

CONNECTED TRANSACTIONS (continued)

Where, “Services” mean the assistance provided by Atlas to the Company to further develop medical devices business of Titron Group.

• (a) Service fee: HK$200,000 in cash per month

• (b) Performance bonus: The amount equal to 30% of excess of the pro forma combined profit before tax of the Titron Group over HK$10 million for each of the six financial years ending 31 December 2016.

• The performance bonus in each year shall be satisfied 50% in cash and 50% in performance incentive shares. The amount of performance bonus that can be paid in performance incentive shares is subject to a cap amount for each of the financial years ended 31 December 2011 to 31 December 2016.

The Company was obliged to pay Atlas for the Services for the year ended 31 December 2011 to the extent as described below:

• (a) Service fee :

• The amount of service fee for the period from 10 October 2011 to 31 December 2011 was HK$533,000; the full amount of which was voluntarily waived by Atlas.

• (b) Performance bonus : No performance bonus or performance incentive shares were earned or payable for the year ended 31 December 2011.

關連交易 （續）

• 據此，「該等服務」指 Atlas向本公司提供之援 助，以進一步發展德隆集團之醫療設備業務。

• (a) 服務費： 每月現金200,000港元

• (b) 履約花紅： 於截至二零一六年十二月 三十一日止六個財政年度 各年等同於德隆集團之備 考合併除稅前溢利超出 10,000,000港元之部份30% 之金額。

• 各年之履約花紅須以現金 支付50%及以履約獎勵股份 支付50%。可以履約獎勵股 份支付之履約花紅金額須 受截至二零一一年十二月 三十一日至二零一六年十二 月三十一日止各財政年度之 上限數額所規限。

• 本公司須就截至二零一一年十二月三十一日止 年度之該等服務向Atlas作出支付，惟以下述者 為限：

• (a) 服務費： 自二零一一年十月十日至 二零一一年十二月三十一 日止期間之服務費金額為 533,000港元；其全額已由 Atlas自願豁免。

• (b) 履約花紅： 截至二零一一年十二月 三十一日止年度，概無賺取 或應付履約花紅或履約獎勵 股份。

AMCO UNITED HOLDING LIMITED Annual Report 2011

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Directors’ Report 董事會報告

CONNECTED TRANSACTIONS (continued)

Pursuant to the Listing Rules, the Independent Non-executive Directors had reviewed the above continuing connected transactions and confirmed that the transactions were entered into (i) in the ordinary and usual course of business of the Company; (ii) on normal commercial terms or on terms no less favorable to the Company than terms available from independent third parties; (iii) in accordance with each of the relevant agreements governing them on terms that are fair and reasonable and in the interests of the shareholders of the Company as a whole; and (iv) have not exceeded the relevant maximum amount capped in accordance with the announcements and circular of the Company as mentioned above.

The Company’s auditor was engaged to report on the Group’s continuing connected transactions in accordance with Hong Kong Standard on Assurance Engagements 3000, “Assurance Engagements Other Than Audits or Reviews of Historical Financial Information” and with reference to Practice Note 740 “Auditor’s Letter on Continuing Connected Transactions under the Hong Kong Listing Rules” issued by the Hong Kong Institute of Certified Public Accountants. The auditor has issued his unqualified letter containing his findings and conclusions in respect of the continuing connected transactions disclosed by the Group in pages 35 to 36 of the Annual Report in accordance with Listing Rule 14A.38.

關連交易 （續）

根據上市規則，獨立非執行董事已審閱上述持 續關連交易，及確認該等交易乃(i)於本公司一般 及正常業務過程中訂立；(ii)按一般商業條款或 按不遜於本公司可自獨立第三方獲得之條款訂 立；(iii)根據各相關規管協議按公平及合理之條 款訂立及符合本公司股東之整體利益；及(iv)並 無超過根據上文所述本公司之公佈及通函所載 之相關最高上限數額。

本公司核數師已獲委託，根據香港會計師公會頒 佈的香港核證工作準則第3000號「除審核或審 閱歷史財務信息以外的核證應聘工作」，並參考 「核數師就香港上市規則項下持續關連交易發出 的函件」應用指引第740項，就本集團的持續關 連交易呈交報告。核數師已發出無保留意見函 件，當中載有其有關持續關連交易（本集團已根 據上市規則第14A.38條於本年報第35至36頁對 此作出披露）的調查結果及結論。

雋泰控股有限公司

37

2011 年報

Directors’ Report 董事會報告

SUBSTANTIAL SHAREHOLDERS

主要股東

As at 31 December 2011, so far as are known to the Directors, the shareholders (other than Directors or chief executives of the Company), who had interests or short positions in the shares or underlying shares of the Company which would fall to be disclosed to the Company under the SFO, or which were recorded in the register required to be kept by the Company pursuant to Section 336 of the SFO, or had otherwise notified the Company were as follows:

於二零一一年十二月三十一日，據董事所知，股 東（本公司董事或最高行政人員除外）於本公司 股份或相關股份中，擁有須根據證券及期貨條例 向本公司披露，或已記入本公司根據證券及期貨 條例第336條規定存置之登記冊內，或已知會本 公司之權益或淡倉如下：

Long positions

Shares and underlying shares of the Company

好倉

本公司股份及相關股份

		Number		Percentage
		of issued	Number of	of the issued
		ordinary	underlying	share capital of
Name of shareholder	Capacity	shares held	shares held	the Company
				(Note 1)
				佔本公司
		持有已發行	持有	已發行股本
股東姓名	身份	普通股數目	相關股份數目	百分比
				（附註1）
Atlas Medical Limited	Beneficial owner	–	6,720,000,000	76.73%
			(Note 2)
	實益擁有人		（附註2）
Lye Khay Fong	Beneficial owner	1,290,000	289,249,200	3.32%
黎其方先生			(Note 3)
	實益擁有人		（附註3）
	Interest of controlled corporation	312,300,000	6,720,000,000	80.29%
			(Note 4)
	於受控制公司之權益		（附註4）
	Founder of a discretionary trust	500,000	–	0.01%
	全權信託之創立人
Qshare Holding Limited	Beneficial owner	2,181,160,000	–	24.90%
		(Note 5)
	實益擁有人	（附註5）
Leung Mei Han	Interest of controlled corporation	2,181,160,000	–	24.90%
梁美嫻		(Note 5)
	於受控制公司之權益	（附註5）

AMCO UNITED HOLDING LIMITED Annual Report 2011

38

Directors’ Report 董事會報告

SUBSTANTIAL SHAREHOLDERS (continued)

Long positions (continued)

Shares and underlying shares of the Company (continued)

主要股東 （續）

好倉 （續）

本公司股份及相關股份 （續）

		Number		Percentage
		of issued	Number of	of the issued
		ordinary	underlying	share capital of
Name of shareholder	Capacity	shares held	shares held	the Company
				(Note 1)
				佔本公司
		持有已發行	持有	已發行股本
股東姓名	身份	普通股數目	相關股份數目	百分比
				（附註1）
Almeco United Group Limited	Beneficial owner	1,456,589,220	–	16.63%
	實益擁有人
Integrated Asset Management	Beneficial owner	820,866,667	–	9.37%
(Asia) Limited		(Note 6)
	實益擁有人	（附註6）
Yam Tak Cheung	Interest of controlled corporation	820,866,667	–	9.37%
		(Note 6)
任德章	於受控制公司之權益	（附註6）
Chelin International Limited	Beneficial owner	420,000,000	223,248,900	7.34%
		(Note 7)	(Note 8)
智永國際有限公司	實益擁有人	（附註7）	（附註8）
Lai Chiu Fan	Interest of controlled corporation	420,000,000	223,248,900	7.34%
		(Note 7)	（Note 8)
黎朝輝	於受控制公司之權益	（附註7）	（附註8）
Notes:		附註：

1. The calculation of percentage figures is based on the relevant number of shares as a percentage of the number of shares of the Company in issue as at 31 December 2011.

2. 百分比數字之計算乃根據有關股份數目作為 本公司於二零一一年十二月三十一日之已發 行股份數目之百分比。

3. A maximum number of 6,720,000,000 shares is potentially entitled by Atlas Medical Limited pursuant to the performance incentive agreement dated 4 March 2011.

4. 上限為6,720,000,000股股份之潛在權益由 Atlas Medical Limited根據日期為二零一一年 三月 四日之履約獎勵協議擁有。

5. These 289,249,200 shares are potentially entitled by Mr. Lye Khay Fong pursuant to the Titron CN as referred to in note 37(b) to the financial statements.

6. 誠如財務報表附註37(b)所述之德隆可換股票 據，該等289,249,200股股份之潛在權益由黎 其方先生擁有。

雋泰控股有限公司 2011 年報

39

Directors’ Report 董事會報告

SUBSTANTIAL SHAREHOLDERS (continued)

Long positions (continued)

Shares and underlying shares of the Company (continued)

Notes: (continued)

1. These 6,720,000,000 shares refer to the same parcel of shares in note 2 above. Atlas Medical Limited was 50% owned by Mr. Lye Khay Fong and 50% owned by Mr. Yip respectively. Accordingly, Mr. Lye Khay Fong was deemed to be interested in these 6,720,000,000 underlying shares by virtue of the SFO.

2. These 2,181,160,000 shares refer to the same parcel of shares. Qshare Holding Limited was 100% owned by Ms. Leung Mei Han. Accordingly, Ms. Leung Mei Han was deemed to be interested in these 2,181,160,000 shares held by Qshare Holding Limited by virtue of the SFO.

3. These 820,866,667 shares refer to the same parcel of shares. Integrated Asset Management (Asia) Limited was 100% owned by Mr. Yam Tak Cheung. Accordingly, Mr. Yam Tak Cheung was deemed to be interested in these 820,866,667 shares held by Integrated Asset Management (Asia) Limited by virtue of the SFO.

4. These 420,000,000 shares refer to the same parcel of shares. Chelin International Limited was 100% owned by Mr. Lai Chiu Fan. Accordingly, Mr. Lai Chiu Fan was deemed to be interested in these 420,000,000 shares held by Chelin International Limited by virtue of the SFO.

5. These 223,248,900 shares are potentially issued and allotted to Chelin International Limited pursuant to the Titron CN as referred to in note 37(b) to the financial statements. Chelin International Limited was 100% owned by Mr. Lai Chiu Fan. Accordingly, Mr. Lai Chiu Fan was deemed to be interested in these 223,248,900 underlying shares by virtue of the SFO.

Other than as disclosed above, the register of substantial shareholders maintained by the Company under Section 336 of the SFO showed that the Company had not been notified of any other interests or short positions in the shares and underlying shares of the Company as at 31 December 2011.

主要股東 （續）

好倉 （續）

本公司股份及相關股份 （續）

附註：（續）

1. 該等6,720,000,000股股份指上文附註2所述 之同一批股份。Atlas Medical Limited由黎其 方先生及葉先生分別擁有50%權益。因此，根 據證券及期貨條例，黎其方先生被視為於該等 6,720,000,000股相關股份中擁有權益。

2. 該等2,181,160,000股股份指同一批股份。 Qshare Holding Limited由梁美嫻女士全資擁 有。因此，根據證券及期貨條例，梁美嫻女士 被視為於由Qshare Holding Limited所持有之 該等2,181,160,000股股份中擁有權益。

3. 該等 820,866,667 股股份指同一批股份。 Integrated Asset Management (Asia) Limited 由任德章先生全資擁有。因此，根據證券及 期貨條例，任德章先生被視為於由Integrated Asset Management (Asia) Limited持有之該等 820,866,667股股份中擁有權益。

4. 該等420,000,000股股份指同一批股份。智永 國際有限公司由黎朝輝先生全資擁有。因此， 根據證券及期貨條例，黎朝輝先生被視為於由 智永國際有限公司持有之該等420,000,000股 股份中擁有權益。

5. 根據財務報表附註37(b)所述之德隆可換股票 據，該等223,248,900股股份可能將發行及配 發予智永國際有限公司。智永國際有限公司由 黎朝輝先生全資擁有。因此，根據證券及期貨 條例，黎朝輝先生被視為於該等223,248,900 股股份中擁有權益。

除上文披露者外，於二零一一年十二月三十一 日，按本公司根據證券及期貨條例第336條置存 之主要股東名冊所示，本公司並不知悉於本公司 股份及相關股份之任何其他權益或淡倉。

AMCO UNITED HOLDING LIMITED Annual Report 2011

40

Directors’ Report 董事會報告

MAJOR CUSTOMERS AND SUPPLIERS

For the year ended 31 December 2011, sales attributable to the Group’s largest customer accounted for approximately 31.6% of the Group’s consolidated turnover and aggregate turnover attributable to the five largest customers of the Group accounted for approximately 60.3% of the Group’s consolidated turnover.

For the year ended 31 December 2011, purchases attributable to the Group’s largest supplier accounted for approximately 8.5% of the Group’s total purchases and aggregate purchases attributable to the five largest suppliers of the Group accounted for approximately 29.3% of the Group’s total purchases.

To the knowledge of the Directors, none of the Directors, or their respective associates, or shareholders owning more than 5% of the Company’s issued share capital had any beneficial interests in any of the five largest customers or suppliers.

CONFIRMATION OF INDEPENDENT NONEXECUTIVE DIRECTORS

The Company has received, from each of the Independent Non-executive Directors, an annual confirmation of his independence pursuant to Rule 3.13 of the Rules Governing the Listing Securities on the Stock Exchange. The Company considers all of the Independent Non-executive Directors are independent.

EMOLUMENT POLICY

The emolument policy of the employees of the Group is set up by the Remuneration Committee on the basis of their merit, qualifications and competence.

The emoluments of the Directors of the Company are reviewed and recommended by the Remuneration Committee, having regard to the Company’s operating results, individual performance and comparable market statistics.

主要客戶及供應商

於截至二零一一年十二月三十一日止年度內， 本集團最大客戶應佔銷售額約佔本集團綜合營 業額之31.6%，而五大客戶合共之應佔營業額約 佔本集團綜合營業額之60.3%。

於截至二零一一年十二月三十一日止年度內， 本集團最大供應商應佔採購額約佔本集團採購 總額之8.5%，而五大供應商合共之應佔採購額 約佔本集團採購總額之29.3%。

就各董事所知，各董事或彼等各自之聯繫人士或 擁有本公司已發行股本5%以上之股東並無於上 述五大客戶或供應商擁有任何實益權益。

獨立非執行董事之確認

本公司已接獲各獨立非執行董事根據聯交所證 券上市規則第3.13條就彼等之獨立性而發出之 年度確認書。本公司認為所有獨立非執行董事具 有獨立地位。

薪酬政策

本集團僱員之薪酬政策乃由薪酬委員會按彼等 之表現、資格及能力制定。

本公司董事之薪酬經由薪酬委員會參考本公司 之經營業績、個別董事之表現及可比較之市場資 料後審閱並推薦意見。

雋泰控股有限公司 2011 年報

41

Directors’ Report 董事會報告

EMOLUMENT POLICY(continued)

The Company has adopted a share option scheme as an incentive to Directors and eligible employees, details of the scheme is set out in note 32 to the consolidated financial statements.

CORPORATE GOVERNANCE PRACTICES

Details of the Company’s corporate governance practices are set out in the Corporate Governance Report on pages 18 to 26 of this Annual Report.

MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS

The Company has adopted the Model Code for Securities Transactions by Directors of Listed Issuers (the “Model Code”) as set out in Appendix 10 to the Listing Rules. Following specific enquiry by the Company, all Directors have confirmed that they have complied with the required standard as set out in the Model Code during the year ended 31 December 2011.

AUDIT COMMITTEE

The Audit Committee comprises three Independent Non-executive Directors, namely, Mr. Chan Kam Kwan, Jason, Mr. Leung Ka Kui, Johnny and Mr. Lau Man Tak. The Audit Committee has reviewed the management accounting principles and practices adopted by the Group and discussed internal controls and financial reporting matters including the review of the audited results for the year ended 31 December 2011.

PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES

The Company has not redeemed any of its shares during the year. Neither the Company nor any of its subsidiaries has purchased or sold any of the Company’s shares during the year.

PRE-EMPTIVE RIGHTS

There are no provisions for pre-emptive rights under the Company’s Bye-laws, or the laws of Bermuda, which would oblige the Company to offer new shares on a pro-rata basis to existing shareholders.

薪酬政策 （續）

本公司採納購股權計劃作為對董事及合資格僱 員之獎勵，該計劃詳情載於綜合財務報表附註 32。

企業管治常規

本公司之企業管治常規詳情載於本年報第18頁 至第26頁之企業管治報告。

董事進行證券交易之標準守則

本公司已採納上市規則附錄十所載之上市發行人 董事進行證券交易之標準守則（「標準守則」）。 經本公司作出特定查詢後，全體董事已確認彼等 於截至二零一一年十二月三十一日止年度一直 遵守標準守則規定之標準。

審核委員會

審核委員會由三名獨立非執行董事陳錦坤先生、 梁家駒先生及劉文德先生組成。審核委員會已審 閱本集團所採納之管理會計原則及慣例，並商討 內部監控及財務報告事宜，其中包括審閱截至 二零一一年十二月三十一日止年度之經審核業 績。

購買、出售或贖回上市證券

本公司於本年度並無贖回其任何股份。年內，本 公司或其任何附屬公司概無購買或出售本公司 任何股份。

優先購買權

本公司之細則或百慕達法例均無任何有關優先 購買權之條文，規定本公司須按比例向現有股東 發售新股份。

AMCO UNITED HOLDING LIMITED 42 Annual Report 2011

Directors’ Report 董事會報告

SUFFICIENCY OF PUBLIC FLOAT

The Company has maintained a sufficient public float throughout the year ended 31 December 2011.

AUDITOR

The financial statements for the years ended 31 December 2009 and 2010 were audited by SHINGWING (HK) CPA Limited.

On 29 December 2011, SHINGWING (HK) CPA Limited resigned as the auditor of the Company and BDO Limited was appointed as the new auditor of the Company to fill the casual vacancy and to hold office until the conclusion of the forthcoming annual general meeting of the Company.

A resolution will be submitted to the forthcoming annual general meeting to re-appoint BDO Limited as the auditor of the Company.

On behalf of the Board

Yip Wai Lun, Alvin

Chairman and Managing Director 28 March 2012

足夠公眾持股量

於截至二零一一年十二月三十一日止年度全年， 本公司一直維持足夠之公眾持股量。

核數師

截至二零零九年及二零一零年十二月三十一日 止年度之財務報表已由信永中和（香港）會計師 事務所有限公司審核。

於二零一一年十二月二十九日，信永中和（香 港）會計師事務所有限公司辭任本公司之核數 師，而香港立信德豪會計師事務所有限公司獲委 任為本公司新核數師，以填補空缺，任期直至本 公司應屆股東週年大會結束時止。

本公司將於應屆股東週年大會上提呈決議案， 以續聘香港立信德豪會計師事務所有限公司為 本公司核數師。

代表董事會

主席兼董事總經理

葉偉倫

二零一二年三月二十八日

雋泰控股有限公司

43

2011 年報

Independent Auditor’s Report 獨立核數師報告

==> picture [77 x 62] intentionally omitted <==

==> picture [96 x 62] intentionally omitted <==

TO THE SHAREHOLDERS OF

致雋泰控股有限公司股東

AMCO UNITED HOLDING LIMITED

(FORMERLY KNOWN AS GUOJIN RESOURCES HOLDINGS LIMITED) (incorporated in Bermuda with limited liability)

（前稱為國金資源控股有限公司） （於百慕達註冊成立之有限公司）

We have audited the consolidated financial statements of AMCO United Holding Limited (“the Company”) and its subsidiaries (together “the Group”) set out on pages 47 to 183, which comprise the consolidated and company statements of financial position as at 31 December 2011, and the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.

本核數師（以下簡稱「我們」）已審計刊載於第 47頁至第183頁雋泰控股有限公司（「貴公司」） 及其附屬公司（統稱為「貴集團」）的綜合財務報 表，當中包括於二零一一年十二月三十一日的綜 合及公司財務狀況表與截至該日止年度的綜合全 面收益表、綜合權益變動表和綜合現金流量表， 以及主要會計政策概要和其他附註解釋資料。

Directors’ Responsibility for the Consolidated Financial Statements

董事就綜合財務報表須承擔的責任

The directors of the Company are responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants and the disclosure requirements of the Hong Kong Companies Ordinance, and for such internal control as the directors determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

貴公司董事須負責根據香港會計師公會頒佈的 《香港財務報告準則》及香港《公司條例》的披 露規定編製綜合財務報表，以令綜合財務報表作 出真實而公平的反映及落實其認為編製綜合財 務報表所必要的內部控制，以確保綜合財務報 表不存在由於欺詐或錯誤而導致的重大錯誤陳 述。

BDO Limited

香港立信德豪會計師事所有限公司

BDO Limited, a Hong Kong Limited company, is a member a BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms.

AMCO UNITED HOLDING LIMITED Annual Report 2011

44

Independent Auditor’s Report 獨立核數師報告

Auditor’s Responsibility

Our responsibility is to express an opinion on these consolidated financial statements based on our audit. This report is made solely to you, as a body, in accordance with Section 90 of the Bermuda Companies Act 1981, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the consolidated financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the consolidated financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

核數師的責任

我們的責任是根據我們的審計對該等綜合財務 報表作出意見，並按照《百慕達1981年公司法》 第90條僅向整體股東作出報告，除此之外，本報 告別無其他目的。我們不會就本報告的內容，向 任何其他人士負上或承擔責任。

我們已根據香港會計師公會頒佈的《香港審計 準則》進行審計。該等準則要求我們須遵守道德 規範，並規劃及執行審計，以合理確定綜合財務 報表是否不存在任何重大錯誤陳述。

審計涉及執行程序以獲取有關綜合財務報表所 載金額及披露資料的審計憑證。所選用的程序 取決於核數師的判斷，包括評估由於欺詐或錯 誤而導致綜合財務報表存在重大錯誤陳述的風 險。在評估該等風險時，核數師考慮與該公司編 製綜合財務報表以作出真實而公平的反映相關 的內部控制，以設計適當的審計程序，但目的並 非對公司的內部控制有效性發表意見。審計亦包 括評價董事所採用的會計政策的合適性及作出 的會計估計的合理性，以及評價綜合財務報表的 整體列報方式。

我們相信，我們所獲得的審計憑證充足和適當地 為我們的審計意見提供基礎。

雋泰控股有限公司 2011 年報

45

Independent Auditor’s Report 獨立核數師報告

Opinion

In our opinion, the consolidated financial statements give a true and fair view of the state of the affairs of the Company and of the Group as at 31 December 2011, and of the Group’s loss and cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards and have been properly prepared in accordance with the disclosure requirements of the Hong Kong Companies Ordinance.

BDO Limited

Certified Public Accountants

Jonathan Russell Leong Practising Certificate Number P03246

Hong Kong, 28 March 2012

意見

我們認為，該等綜合綜合財務報表已根據《香 港財務報告準則》真實而公平地反映 貴公司 及 貴集團於二零一一年十二月三十一日的事 務狀況及 貴集團截至該日止年度的虧損及現 金流量，並已按照香港《公司條例》的披露規定 妥善編製。

香港立信德豪會計師事務所有限公司

執業會計師

梁兆基

執業證書編號P03246

香港，二零一二年三月二十八日

AMCO UNITED HOLDING LIMITED Annual Report 2011

46

Consolidated Statement of Comprehensive Income 綜合全面收益表

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

Notes 附註	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Continuing operations 持續經營業務 Turnover 營業額 7 Cost of sales 銷售成本 Gross profit 毛利 Other income/(loss) 其他收益╱（虧損） 8 Distribution costs 分銷成本 Administrative expenses 行政開支 Change in fair value of derivative and embedded derivative components of a convertible bond 衍生工具及可換股債券之 嵌入式衍生部分之公允價值變動 Gain on change in fair value of a convertible note 可換股票據之公允價值變動收益 37(b) Share-based payment expenses 以股份為基礎之付款開支 Impairment losses and write offs 減值虧損及撇銷 10 Gain on extinguishment of financial liabilities by issue of ordinary shares 透過發行普通股抵銷 財務負債之收益 37(a) Finance costs 財務費用 9 Profit/(loss) before income tax expense 除所得稅開支前溢利╱（虧損） 11 Income tax expense 所得稅開支 12 Loss for the year from continuing operations 來自持續經營業務之年度虧損 Discontinued operations 已終止經營業務 Loss for the year from discontinued operations 來自已終止經營業務之年度虧損 13 Loss for the year 年度虧損		80,183 (73,592)
	117,561
	(90,709)
		6,591 (1,675) (4,092) (41,393) (12,457) – (21,483) (4,188) – (29,886)
	26,852
	1,970
	(4,798)
	(48,484)
	–
	17,978
	(2,076)
	(227)
	32,080
	(15,095)
		(108,583) (554)
	8,200
	(8,410)
		(109,137) (274,774)
	(210)
	(81,276)
		(383,911)
	(81,486)

雋泰控股有限公司 47 2011 年報

Consolidated Statement of Comprehensive Income 綜合全面收益表

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

Note 附註	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Other comprehensive income 其他全面收入 Exchange differences arising on translation of foreign operations 換算海外業務產生之匯兌差額 Reclassification adjustments for amounts transferred to profit or loss 轉撥至損益中之金額之 重新分類調整 – release of translation reserve upon deregistration of subsidiaries －於附屬公司撤銷註冊後解除匯兌 儲備 – release of translation reserve upon disposal of subsidiaries －於出售附屬公司時解除匯兌儲備 34 – release of properties revaluation reserve upon impairment loss on property, plant and equipment －於物業、廠房及設備出現減值 虧損時解除物業重估儲備 Change in fair value of available-for- sale financial assets 可供出售財務資產之公允價值變動 Gain arising on revaluation of properties 重估物業產生之收益 Income tax relating to release of properties revaluation reserve upon disposal on property, plant and equipment 於出售物業、廠房及設備時解除物 業重估儲備相關之所得稅 Other comprehensive income for the year, net of tax 年內其他全面收入， 扣除稅項 Total comprehensive income for the year 年內全面收入總額 Profit/(loss) for the year attributable to: 以下人士應佔年度溢利╱ （虧損）： – Owners of the Company －本公司擁有人 Continuing operations 持續經營業務 Discontinued operations 已終止經營業務 – Non-controlling interests －非控股權益 Continuing operations 持續經營業務 Discontinued operations 已終止經營業務		1,317 381 – 185 – 4 1,710
	(1,015)
	(63)
	(2,624)
	–
	32
	–
	–
		3,597
	(3,670)
		(380,314)
	(85,156)
		(108,594) (274,774)
	766
	(81,276)
		(383,368) (543) –
	(80,510)
	(976)
	–
		(543)
	(976)
		(383,911)
	(81,486)

AMCO UNITED HOLDING LIMITED Annual Report 2011

48

Consolidated Statement of Comprehensive Income 綜合全面收益表

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

Note 附註	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Total comprehensive income attributable to: 以下人士應佔全面收入總額： – Owners of the Company －本公司擁有人 Continuing operations 持續經營業務 Discontinued operations 已終止經營業務 – Non-controlling interests －非控股權益 Continuing operations 持續經營業務 Discontinued operations 已終止經營業務 Earnings/(loss) per share 每股盈利╱（虧損） 14 From continuing and discontinued operations 來自持續經營業務及 已終止經營業務 Basic 基本 Diluted 攤薄 From continuing operations 來自持續經營業務 Basic 基本 Diluted 攤薄 From discontinued operations 來自已終止經營業務 Basic 基本 Diluted 攤薄		(104,997) (274,774)
	(2,904)
	(81,276)
		(379,771) (543) –
	(84,180)
	(976)
	–
		(543)
	(976)
		(380,314)
	(85,156)
		(28.01) cents仙 N/A不適用
	(2.78) cents仙
	(2.35) cents仙
		(7.93) cents仙 N/A不適用
	0.03 cents仙
	(0.15) cents仙
		(20.08) cents仙 N/A不適用
	(2.81) cents仙
	(2.20) cents仙

雋泰控股有限公司 2011 年報

49

Consolidated Statement of Financial Position 綜合財務狀況表

At 31 December 2011 於二零一一年十二月三十一日

Notes 附註	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
ASSETS AND LIABILITIES 資產及負債 Non-current assets 非流動資產 Property, plant and equipment 物業、廠房及設備 17 Intangible assets 無形資產 18 Goodwill 商譽 19 Available-for-sale financial assets 可供出售財務資產 20 Deferred tax assets 遞延稅項資產 28 Current assets 流動資產 Inventories 存貨 21 Trade and other receivables 貿易及其他應收款項 22 Refundable deposit paid for acquisition of mining rights 已付收購採礦權之 可退回按金 23 Tax recoverable 可收回稅項 Pledged time deposits 已抵押定期存款 24 Cash and cash equivalents 現金及現金等價物 24 Current liabilities 流動負債 Trade and other payables 貿易及其他應付款項 25 Bank and other borrowings 銀行及其他借貸 26 Obligation under finance leases 融資租約承擔 27 Convertible notes 可換股票據 37(b) Tax payable 應付稅項 Net current assets 流動資產淨值 Total assets less current liabilities 總資產減流動負債		23,395 8,915 – – 1,162
	22,047
	–
	67,362
	1,169
	514
		33,472
	91,092
		29,007 17,617 23,400 163 – 37,897
	14,186
	44,409
	–
	–
	3,538
	49,565
		108,084
	111,698
		66,897 10,898 1,228 – 10,692
	66,898
	14,646
	387
	12,644
	11,794
		89,715
	106,369
		18,369
	5,329
		51,841
	96,421

AMCO UNITED HOLDING LIMITED Annual Report 2011

50

Consolidated Statement of Financial Position 綜合財務狀況表 At 31 December 2011 於二零一一年十二月三十一日

Notes 附註	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Non-current liabilities 非流動負債 Obligation under finance leases 融資租約承擔 27 Deferred tax liabilities 遞延稅項負債 28 Convertible bonds 可換股債券 37(a) Convertible notes 可換股票據 37(b) Net assets/(liabilities) 資產╱（負債）淨值 EQUITY 權益 Capital and reserves 股本及儲備 Share capital 股本 29 Reserves 儲備 Equity/(capital deficiency) attributable to owners of the Company 本公司擁有人應佔權益╱ （股本虧絀） Non-controlling interests 非控股權益 Total equity/(capital deficiency) 權益╱（股本虧絀）總額		184 2,607 181,208 –
	424
	1,011
	–
	13,852
		183,999
	15,287
		(132,158)
	81,134
		150,375 (281,990)
	87,582
	(4,929)
		(131,615) (543)
	82,653
	(1,519)
		(132,158)
	81,134

On behalf of the Board

代表董事會

Leung Mei Han Yip Wai Lun, Alvin 梁美嫻 葉偉倫 Director Director 董事 董事

雋泰控股有限公司 51 2011 年報

Statement of Financial Position 財務狀況表

At 31 December 2011 於二零一一年十二月三十一日

Notes 附註	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
ASSETS AND LIABILITIES 資產及負債 Non-current asset 非流動資產 Investments in subsidiaries 於附屬公司之投資 33 Current assets 流動資產 Deposits and prepayment 按金及預付款項 22 Amounts due from subsidiaries 應收附屬公司之款項 33 Cash and cash equivalents 現金及現金等價物 24 Current liabilities 流動負債 Other payables 其他應付款項 25 Amounts due to subsidiaries 應付附屬公司款項 25 Convertible notes 可換股票據 37(b) Net current assets/(liabilities) 流動資產╱（負債）淨值 Non-current liability 非流動負債 Convertible notes 可換股票據 37(b) Net assets/(liabilities) 資產╱（負債）淨值 EQUITY 權益 Capital and reserves 股本及儲備 Share capital 股本 29 Reserves 儲備 30 Total equity/(capital deficiency) 權益╱（股本虧絀）總額		– 162 107,402 4,598
	–
	1,112
	98,659
	31,951
		112,162
	131,722
		13,255 133,218 –
	12,587
	14,822
	12,644
		146,473
	40,053
		(34,311)
	91,669
		–
	13,852
		(34,311)
	77,817
		150,375 (184,686)
	87,582
	(9,765)
		(34,311)
	77,817

On behalf of the Board 代表董事會

Leung Mei Han Yip Wai Lun, Alvin 梁美嫻 葉偉倫 Director Director 董事 董事

AMCO UNITED HOLDING LIMITED 52 Annual Report 2011

Consolidated Statement of Changes in Equity 綜合權益變動表

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

	Share capital Share premium Capital reserve Properties revaluation reserve Available- for-sale financial assets reserve Translation reserve Convertible bonds reserve Accumulated losses Equity attributable to owners of the Company Non- controlling interests Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Note a) (Note b) 股本 股份溢價 資本儲備 物業重估 儲備 可供出售 財務資產儲備 匯兌儲備 可換股 債券儲備 累計虧損 本公司擁有人 應佔權益 非控股權益 總計 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 （附註a） （附註b）
As at 1 January 2010 於二零一零年一月一日 Other comprehensive income for the year 年度其他全面收入 Loss for the year 年度虧損 Total comprehensive income for the year 年度全面收入總額 Equity-settled share-based transactions 以股本結算股份 為基礎之交易 – recognition of equity- settled share-based payment expenses －確認以股本結算 股份為基礎之付款 開支 – lapse of options granted to employees －授予僱員之 購股權失效 Realised on disposal of property, plant and equipment 於出售物業、廠房及 設備時變現 Issue of new shares under share option scheme (Note 29(b)) 根據購股權計劃發行 新股份（附註29(b)） Issue of new shares on conversion of convertible bonds (Note 29(c)) 兌換可換股債券時發行 新股份（附註29(c)） Issue of subscription shares (Note 29(d)) 發行認購股份 （附註29(d)） Transaction costs attributable to issue of subscription shares 應佔發行認購股份之 交易成本 At 31 December 2010 於二零一零年 十二月三十一日 As at 1 January 2011 於二零一一年一月一日 Other comprehensive income for the year 年度其他全面收入 Loss for the year 年度虧損 Total comprehensive income for the year 年度全面收入總額 Equity-settled share-based transactions 以股本結算股份 為基礎之交易 – recognition of equity- settled share-based payment expenses －確認以股本結算股 份為基礎之付款 開支 – lapse of options granted to employees －授予僱員之購股 權失效 Issue of new shares under rights issue (Note 29(f)) 根據供股發行新股份 （附註29(f)） Capital reduction (Note 29(e)) 資本削減（附註29(e)） Issue of new shares to settle convertible bonds (Note 29(g)) 償還可換股債券時發行新 股份（附註29(g)） Issue of new shares on conversion of convertible notes (Note 29(h)) 兌換可換股票據時發行新 股份（附註29(h)） Transaction costs attributable to issuance of new shares 發行新股應佔 之交易成本 At 31 December 2011 於二零一一年 十二月三十一日	109,310 174,412 24 8,504 – 3,849 4,401 (315,404) (14,904) – (14,904) – – – 1,899 – 1,698 – – 3,597 – 3,597 – – – –- – – – (383,368) (383,368) (543) (383,911)
	– – – 1,899 – 1,698 – (383,368) (379,771) (543) (380,314)
	– – 21,483 – – – – – 21,483 – 21,483 – – (5) – – – – 5 – – – – – – (10,403) – – – 10,403 – – – 65 624 (177) – – – – – 512 – 512 20,000 31,951 – – – – (4,401) – 47,550 – 47,550 21,000 178,500 – – – – – – 199,500 – 199,500 – (5,985) – – – – – – (5,985) – (5,985)
	150,375 379,502 21,325 – – 5,547 – (688,364) (131,615) (543) (132,158)
	150,375 379,502 21,325 – – 5,547 – (688,364) (131,615) (543) (132,158)
	– – – – 32 (3,702) – – (3,670) – (3,670)
	– – – – – – – (80,510) (80,510) (976) (81,486)
	– – – – 32 (3,702) – (80,510) (84,180) (976) (85,156)
	– – 2,076 – – – – – 2,076 – 2,076
	– – (7,986) – – – – 7,986 – – –
	16,541 66,165 – – – – – – 82,706 – 82,706
	(135,337) (379,502) – – – – – 514,839 – – –
	41,512 132,841 – – – – – – 174,353 – 174,353
	14,491 33,330 – – – – – – 47,821 – 47,821
	– (8,508) – – – – – – (8,508) – (8,508)
	87,582 223,828 15,415 – 32 1,845 – (246,049) 82,653 (1,519) 81,134

雋泰控股有限公司 53 2011 年報

Consolidated Statement of Changes in Equity 綜合權益變動表

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

Notes:

• a) The application of share premium account is governed by Section 40 of the Bermuda Companies Act 1981.

• b) At 31 December 2011 and 2010, the capital reserve comprises the fair value of the actual or estimated number of unexercised share options granted to directors and employees of the Company recognised in accordance with the accounting policy adopted for share-based payments as further detailed in note 4 to the consolidated financial statements.

附註：

• a) 股份溢價賬之應用受一九八一年百慕達公 司法第40條規管。

• b) 於二零一一年及二零一零年十二月三十一 日，資本儲備包括根據進一步詳情載列於 綜合財務報表附註4的以股份為基礎付款而 採納之會計政策確認授予本公司董事及僱 員之未行使購股權之實際或估計數目之公 允價值。

AMCO UNITED HOLDING LIMITED Annual Report 2011

54

Consolidated Statement of Cash Flows 綜合現金流量表

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Cash flows from operating activities 來自經營業務之現金流量 Profit/(loss) before income tax 除所得稅前溢利╱（虧損） Loss before income tax from discontinued operations 來自已終止經營業務之 除所得稅前虧損 Adjustments for: 就下列項目作出之調整： Depreciation for property, plant and equipment 物業、廠房及設備折舊 Amortisation of intangible assets 無形資產攤銷 Gain on extinguishment of financial liabilities by issue of ordinary shares 透過發行普通股抵銷財務 負債之收益 Gain on change in fair value of a convertible note 可換股票據公允價值變動 收益 Impairment loss on property, plant and equipment 物業、廠房及設備減值虧損 Impairment loss on intangible assets 無形資產減值虧損 Impairment loss on trade and other receivables 貿易及其他應收款項減值虧損 Impairment loss on refundable deposit paid for acquisition of mining rights 已支付收購採礦權之可退回 按金減值虧損 Impairment loss on inventories 存貨減值虧損 Inventories written off 存貨撇銷 Trade and other receivable written off 貿易及其他應收款項撇銷 Reversal of impairment loss on trade receivables 貿易應收款項減值虧損撥回 Deficit on valuation of property, plant and equipment 物業、廠房及設備估值虧絀 Share-based payment expenses 以股份為基礎之付款開支 Interest income 利息收入 Interest expenses 利息開支 Interest expenses on convertible bonds 可換股債券利息開支 Finance charges on obligation under finance leases 融資租約承擔之財務費用 Change in fair value of derivative and embedded derivative components of a convertible bond 衍生工具及可換股債券之嵌入式 衍生工具部分之公允價值變動 (Gain)/Loss on deregistration of subsidiaries 撤銷註冊附屬公司（收益）╱ 虧損 (Gain)/Loss on disposal of property, plant and equipment 出售物業、廠房及設備之 （收益）╱虧損 Gain on disposal of subsidiaries 出售附屬公司收益 Operating loss before working capital changes 營運資金變動前之經營虧損 Decrease in inventories 存貨減少 Increase in trade and other receivables 貿易及其他應收款項增加 Decrease in refundable deposit paid for acquisition of mining rights 就收購採礦權已付 可退還按金減少 Increase/(decrease) in amount due to a related company 應付一間關連公司款項 增加╱（減少） Decrease in trade and other payables 貿易及其他應付款項減少		(108,583) (278,044) 16,096 10,960 – – 26,193 30,471 10,009 15,600 33,628 32,862 8,656 (359) – 21,483 (101) 2,361 27,924 528 12,457 1,418 267 –
	8,200
	(82,721)
	6,553
	2,596
	(32,080)
	(17,978)
	16,941
	6,319
	482
	11,700
	12,371
	7,239
	–
	(665)
	227
	2,076
	(147)
	461
	14,605
	29
	–
	(63)
	(181)
	(24,022)
		(136,174) 54,942 (7,299) – (910) (28,445)
	(68,058)
	7,531
	(1,373)
	11,700
	2,651
	(6,276)

雋泰控股有限公司 2011 年報

55

Consolidated Statement of Cash Flows 綜合現金流量表

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Cash used in operations 經營業務動用之現金 Hong Kong Profits Tax paid 已付香港利得稅 Overseas tax refund 退回海外稅項 Net cash used in operating activities 經營業務動用之現金淨額 Cash flows from investing activities 來自投資業務之現金流量 Net cash outflow from disposal of subsidiaries 出售附屬公司之現金流出淨額 Proceeds of consideration receivable from disposal of subsidiaries 應收出售附屬公司代價之 所得款項 Proceeds from disposal of property, plant and equipment 出售物業、廠房及設備所得款項 Interest received 已收利息 Payment for the purchase of property, plant and equipment 購買物業、廠房及設備之付款 Increase in pledged bank deposits 已抵押銀行存款增加 Cash acquired from the business acquisition 業務收購所獲得之現金 Net cash generated from investing activities 投資業務產生之現金淨額 Cash flows from financing activities 來自融資活動之現金流量 Proceeds from issue of new shares on exercise of share option and warrants 行使購股權及認股權證時發行新 股之所得款項 Proceeds from issue of new shares on subscription 認購時發行新股所得款項 Proceeds from rights issue 供股所得款項 New bank and other borrowings raised 所籌集之新增銀行及其他借貸 Repayment of bank and other borrowings 償還銀行及其他借貸 Repayment of notes payable 償還應付票據 Interest paid on convertible bonds 已付可換股債券利息 Repayments of obligation under finance leases 償還融資租約承擔 Interest paid 已付利息 Expenses on issuance of new shares 發行新股之開支 Finance charges on obligation under finance leases 融資租約承擔之財務費用 Repayment from directors 董事還款 Decrease in advances from financial institution as consideration for the factored receivables 金融機構墊款作為保理應收款項 之代價減少 Expenses on issue of new subscription shares 發行新認購股份開支 Net cash generated from financing activities 融資活動產生之現金淨額	(53,825)	(117,886) (1,558) 19
	(2,958)
	–
		(119,425)
	(56,783)
		– 20,000 17,752 101 (10,960) – –
	(335)
	–
	824
	147
	(232)
	(3,538)
	9,623
		26,893
	6,489
		512 199,500 – 9,578 (31,065) (38,171) (10,620) (6,906) (807) – (528) (720) (990) (5,985)
	–
	–
	82,706
	14,646
	(25,187)
	–
	–
	(1,280)
	(461)
	(8,508)
	(29)
	–
	–
	–
		113,798
	61,887

AMCO UNITED HOLDING LIMITED 56 Annual Report 2011

Consolidated Statement of Cash Flows 綜合現金流量表

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Net increase in cash and cash equivalents 現金及現金等價物增加淨額 Cash and cash equivalents at 1 January 於一月一日之現金及現金 等價物 Effect of exchange rate changes on cash and cash equivalents 現金及現金等價物之外幣 匯率變動影響 Cash and cash equivalents at 31 December 於十二月三十一日之現金及 現金等價物 Represented by: 為： Cash and cash equivalents 現金及現金等價物 Bank overdraft 銀行透支	11,593	21,266 16,581 50
	37,897
	75
		37,897
	49,565
		37,897 –
	49,565
	–
		37,897
	49,565

雋泰控股有限公司 57 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. GENERAL INFORMATION

AMCO United Holding Limited (the “Company”) was incorporated in Bermuda with limited liability on 12 September 1996 as an exempted company under the Companies Act 1981 of Bermuda with its shares listed on the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) since 28 November 1996. The addresses of the registered office and principal place of business of the Company are disclosed in “Corporate information” section to the annual report.

The Company and its subsidiaries (hereinafter collectively referred to as the “Group”) are principally engaged in the remanufacture and sale of computer printing and imaging products, manufacture and sale of data media products, distribution of data media products, manufacture and sale of medical devices and plastic moulding products.

On 8 August 2011, the business of remanufacture and sale of computer printing and imaging products carried out by the Company’s subsidiaries, namely Jackin Enterprise Company Limited (“JEL”) and its subsidiaries were put into liquidation. Details of the deemed disposals of the JEL Group are set out in Note 13. This business segment is also presented as part of discontinued operations in accordance with HKFRS 5. In addition, during the year, the directors decided to cease its trading and mining of mineral resources operation due to the Group had not been able to procure any justifiable opportunities in the area of trading and mining of mineral resources. Accordingly this business segment has also been presented as part of discontinued operations. Certain comparatives on the consolidated statement of comprehensive income, consolidated statement of cash flows and related notes have been re-represented so as to reflect the results for the continuing operations and discontinued operations as if the operations discontinued during the year had been discontinued at the beginning of the comparative period.

On 10 October 2011, one of the Company’s subsidiaries, Energy Best Investments Limited, acquired Apex Solution Group Limited, Titron Industries Limited, Titron International Limited, Titron Manufacturing Limited, Titron Precision Limited, 東莞德越電子塑膠 製品有限公司、東莞益登科塑膠製品有限公司 and 永利企業管理諮 詢（深圳）有限公司 (Collectively referred as “Titron Group”). Titron Group principally engaged in manufacture and sale of medical devices and plastic moulding products. Details of the business combination is set out in Note 35.

1. 一般資料

雋泰控股有限公司（「本公司」）於一九九六 年九月十二日根據百慕達一九八一年公司 法在百慕達註冊成立為一間獲豁免有限公 司，其股份自一九九六年十一月二十八日 起於香港聯合交易所有限公司（「聯交所」） 主板上市。本公司之註冊辦事處及主要營 業地點之地址乃於年報「公司資料」一節披 露。

本公司及其附屬公司（以下統稱為「本集 團」）主要從事環保再造及銷售電腦打印及 影像產品業務、製造及銷售數據媒體產品、 分銷數據媒體產品、製造及銷售醫療設備 及塑膠模具產品。

於二零一一年八月八日，本公司的附屬公 司即Jackin Enterprise Company Limited （「JEL 」）及其附屬公司所經營之環保再造 及銷售電腦打印及影像產品業務已進行清 盤。視作出售JEL集團之詳情載於附註13。 此業務分類亦根據香港財務報告準則第5 號呈列為已終止經營業務之一部份業務。 此外，年內，董事決定因本集團未能於買賣 及開採礦產資源行業內捕獲任何適合機遇 而終止買賣及開採礦產資源業務。故此，該 業務分類亦呈列為已終止經營業務之一部 份。於綜合全面收益表、綜合現金流量表及 相關附註所列之若干比較數字已予以重列 以反映持續經營業務及已終止經營業務之 業績，猶如年內已終止經營業務已於比較 期初終止。

於二零一一年十月十日，本公司其中一間 附屬公司Energy Best Investments Limited 收購鴻略集團有限公司、德隆製造有限公 司、德隆環球有限公司、德隆國際企業有限 公司、德隆精密有限公司、東莞德越電子塑 膠製品有限公司、東莞益登科塑膠製品有 限公司及永利企業管理諮詢（深圳）有限公 司（統稱為「德隆集團」）。德隆集團主要從 事製造及銷售醫療設備及塑膠模具產品。 業務合併之詳情載於附註35。

AMCO UNITED HOLDING LIMITED 58 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. GENERAL INFORMATION (continued)

Other than the acquisitions and discontinued operation as described above, there were no significant changes in the Group’s operations during the year.

1. 一般資料 （續）

除上文所述之收購事項及已終止經營業務 外，本集團於年內之經營業務並無重大變 動。

2. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”)

(a) Adoption of new/revised HKFRSs – effective 1 January 2011

In the current year, the Group has applied for the first time the following new standards, amendments and interpretations (the “New HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (the “HKICPA”), which are relevant to and effective for the Group’s financial statements for the annual period beginning on 1 January 2011:

1. 採納香港財務報告準則（「香港 財務報告準則」）

2. (a) 採納新訂╱經修訂香港財務 報告準則－於二零一一年一 月一日生效

於本年度，本集團首次應用下列由香 港會計師公會（「香港會計師公會」） 頒佈之新訂準則、修訂本及詮釋（「新 訂香港財務報告準則」），該等準則與 本集團於二零一一年一月一日開始之 年度期間之財務報表有關並對其有 效：

HKFRSs (Amendments) Improvements to HKFRSs 2010 Amendments to HKAS 32 Classification of Rights Issues HK(IFRIC) Extinguishing Financial Liabilities – Interpretation 19 with Equity Instruments HKAS 24 (Revised) Related Party Disclosures

香港財務報告準則	二零一零年香港財務報
（修訂本）	告準則之改進
香港會計準則	供股之分類
第32號之修訂本
香港（國際財務報	以股本工具抵銷財務
告詮釋委員會）	負債
－詮釋第19號
香港會計準則	關連方披露
第24號（經修訂）

Except as explained below, the adoption of these new/revised standards and interpretations has no material impact on the Group’s financial statements.

除下文所闡述者外，採納此等新訂╱ 經修訂準則及詮釋對本集團之財務報 表並無重大影響。

HKFRS 3 (Amendments) – Business Combinations

As part of the Improvements to HKFRSs issued in 2010, HKFRS 3 has been amended to clarify that the option to measure non-controlling interests (“NCI”) at either fair value or the NCI’s proportionate share in the recognised amounts of the acquiree’s identifiable net assets is limited to instruments that are present ownership interests and entitle their holders to a proportionate share of the acquiree’s net assets in the event of liquidation. Other components of NCI are measured at their acquisition date fair value unless another measurement basis is required by HKFRSs. The Group has amended its accounting policies for measuring NCI but the adoption of the amendment has had no impact on the Group’s financial statements.

香港財務報告準則第 3 號（修訂 本）－業務合併

作為於二零一零年所頒佈香港財務報 告準則之改進之一部分，香港財務報 告準則第3號已予修訂，以澄清按公允 價值或非控股權益（「非控股權益」） 在被收購方可識別資產淨值之已確認 金額所佔之比例份額來計量非控股權 益之選擇權，僅限於屬於目前擁有權 權益並賦予其持有人在清盤時於被收 購方資產淨值中享有比例份額之工 具。非控股權益之其他組成部分乃按 其收購日期之公允價值計量，除非香 港財務報告準則規定按另一項計量基 準，則作別論。本集團已就計量非控股 權益修訂會計政策，惟採納該修訂對 本集團之財務報表並無影響。

雋泰控股有限公司 2011 年報

59

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

2. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued)

• (a) Adoption of new/revised HKFRSs – effective

• 1 January 2011 (continued)

HK(IFRIC) – Interpretation 19 – Extinguishing Financial Liabilities with Equity Instruments

The Interpretation applies where the Group renegotiates the terms of a financial liability and as a result issues its own equity instruments to the lender in full or partial settlement (commonly referred to as ‘debt for equity swaps”). The equity instruments are regarded as consideration paid and recognised at their fair value on the date the financial liability (or part thereof) is extinguished. The difference between the carrying amount of the financial liability extinguished and the consideration paid is recognised in profit or loss. If only part of the financial liability is extinguished, it is necessary to assess whether some of the consideration paid relates to modification of the terms of the liability that remains outstanding. In cases where it does, the consideration is allocated between the part extinguished and the part remaining.

The Group renegotiated the terms of a convertible bond issued to independent third parties during the year. On 6 October 2011, loans with a carrying amount of HK$206,433,000 were settled in full by issuing 4,151,240,001 ordinary shares with a fair value of HK$0.042 based on their market price at the date of settlement. The Group recognised a gain of HK$32,080,000 on this transaction. There were no similar transactions in 2010.

1. 採納香港財務報告準則（「香港 財務報告準則」） （續）

2. (a) 採納新訂╱經修訂香港財務 報告準則－於二零一一年一 月一日生效 （續）

香港（國際財務報告詮釋委員 會）－詮釋第 19 號－以股本工具 抵銷財務負債

倘本集團重新磋商向貸方發行之財務 負債之條款並由此向其發行本身之股 本工具以作悉數或部分清償（通常稱 為「債轉股」），則此項詮釋適用。股本 工具被視為已付代價，並於財務負債 （或其部分）被抵銷當日按其公允價值 確認。已抵銷財務負債之賬面值與已 付代價之差額乃於損益確認。倘僅有 一部分財務負債被抵銷，則有必要評 估已付之部分代價是否涉及仍屬尚未 償還負債之條款之修訂。在這種情況 下，代價於負債之已抵消部分與餘下 部分之間進行分配。

本集團於本年度重新磋商向獨立 第三方發行之可換股債券之條款。 於二零一一年十月六日，賬面值為 206,433,000港元之貸款乃透過發行 4,151,240,001股公允價值為0.042港 元（乃按於清償日期之市價計算）之普 通股而獲悉數清償。本集團就此項交 易確認收益32,080,000港元。於二零 一零年，概無任何類似交易。

AMCO UNITED HOLDING LIMITED Annual Report 2011

60

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued)

2. (a) Adoption of new/revised HKFRSs – effective 1 January 2011 (continued)

3. 採納香港財務報告準則（「香港 財務報告準則」） （續）

4. (a) 採納新訂╱經修訂香港財務 報告準則－於二零一一年一 月一日生效 （續）

HKAS 24 (Revised) – Related Party Disclosures

香港會計準則第 24 號（經修 訂）－關連方披露

HKAS 24 (Revised) amends the definition of related party and clarifies its meaning. This may result in changes to those parties who are identified as being related parties of the reporting entity. The Group has revised its accounting policy for the identification of its related parties and has reassessed counterparties of transactions in accordance with the revised definition. The reassessment did not result in new related parties being identified. Related parties identified in prior years remain unchanged under the new accounting policy and the Group concluded that the revised definition does not have any material impact on the Group’s related party disclosures in the current and previous years.

香港會計準則第24號（經修訂）對關 連方之釋義作出修訂並釐清其涵義。 此修訂可能會導致被識別為報告實體 之關連方的該等人士出現變更。本集 團已修訂其識別關連方之會計政策， 並根據經修訂釋義重新評估交易之對 手方。該評估並無導致識別新的關連 人士。根據新會計政策，於過往年度識 別之關連方仍維持不變，而本集團之 結論是經修訂釋義不會對本集團於本 年度及過往年度之關連方披露造成任 何重大影響。

HKAS 24 (Revised) also introduces simplified disclosure requirements applicable to related party transactions where the Group and the counterparty are under the common control, joint control or significant influence of a government, government agency or similar body. These new disclosures are not relevant to the Group because the Group is not a government related entity.

香港會計準則第24號（經修訂）亦引 入適用於（在本集團與對手方受政 府、政府機關或類似機構共同控制、 聯手控制或重大影響之情況下）關連 方交易的簡化披露規定。由於本集團 並非政府關連實體，故該等新披露與 本集團並不相關。

雋泰控股有限公司 2011 年報

61

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

2. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued)

(b) New/revised HKFRSs that have been issued but are not yet effective

The following new/revised HKFRSs, potentially relevant to the Group’s financial statements, have been issued, but are not yet effective and have not been early adopted by the Group.

Amendments to	Disclosures – Transfers of Financial
HKFRS 7	Assets1
Amendments to	Presentation of Items of Other
HKAS 1 (Revised)	Comprehensive Income2
Amendments to	Disclosures – Offsetting Financial
HKFRS 7	Assets and Financial Liabilities3
HKFRS 9	Financial Instruments5
HKFRS 10	Consolidated Financial Statements3
HKFRS 12	Disclosure of Interests in Other
	Entities3
HKFRS 13	Fair Value Measurement3
HKAS 19 (2011)	Employee Benefits3
HKAS 27 (2011)	Separate Financial Statements3
Amendments to	Presentation – Offsetting Financial
HKAS 32	Assets and Financial Liabilities4

• 1 Effective for annual periods beginning on or after 1 July 2011

• 2 Effective for annual periods beginning on or after 1 July 2012

• 3 Effective for annual periods beginning on or after 1 January 2013

• 4 Effective for annual periods beginning on or after 1 January 2014

• 5 Effective for annual periods beginning on or after 1 January 2015

• 採納香港財務報告準則（「香港 財務報告準則」） （續）

• (b) 已頒佈但尚未生效之新訂╱ 經修訂香港財務報告準則

以下與本集團之財務報表可能相關之 新訂╱經修訂香港財務報告準則已頒 佈，但尚未生效及未獲本集團提早採 納。

• 香港財務報告準則 披露－財務資產轉讓[1] 第7號之修訂本

• 香港會計準則 呈列其他全面收入項目[2] 第1號之修訂本

• （經修訂）

• 香港財務報告準則 披露－抵銷財務資產及 第7號（修訂本） 財務負債[3]

• 香港財務報告準則 金融工具[5] 第9號

• 香港財務報告準則 綜合財務報表[3] 第10號

• 香港財務報告準則 披露於其他實體之權益[3] 第12號

• 香港財務報告準則 公允價值計量[3] 第13號

• 香港會計準則第19號 僱員福利[3] （二零一一年）

• 香港會計準則第27號 獨立財務報表[3] （二零一一年）

• 香港會計準則第32號 呈列－抵銷財務資產及 （修訂本） 財務負債[4]

• 1 於二零一一年七月一日或以後開始 之年度期間生效

• 2 於二零一二年七月一日或以後開始 之年度期間生效

• 3 於二零一三年一月一日或以後開始 之年度期間生效

• 4 於二零一四年一月一日或以後開始 之年度期間生效

• 5 於二零一五年一月一日或以後開始 之年度期間生效

AMCO UNITED HOLDING LIMITED Annual Report 2011

62

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued)

(b) New/revised HKFRSs that have been issued but are not yet effective (continued)

Amendments to HKFRS 7 – Disclosures – Transfers of Financial Assets

1. 採納香港財務報告準則（「香港 財務報告準則」） （續）

2. (b) 已頒佈但尚未生效之新訂╱經 修訂香港財務報告準則 （續）

香港財務報告準則第 7 號之修訂 本－披露－財務資產轉讓

The amendments to HKFRS 7 improve the disclosure requirements for transfer transactions of financial assets and allow users of financial statements to better understand the possible effects of any risks that may remain with the entity on transferred assets. The amendments also require additional disclosures if a disproportionate amount of transfer transactions are undertaken around the end of a reporting period.

香港財務報告準則第7號之修訂本改 進了財務資產轉讓交易之披露規定， 使財務報表使用者更能了解實體於所 轉讓資產之任何風險之可能影響。此 修訂本亦規定在呈報期末前後進行之 轉讓交易所涉數額比例不均時作出額 外披露。

Amendments to HKAS 1 (Revised) – Presentation of Items of Other Comprehensive Income

香港會計準則第 1 號之修訂本 （經修訂）－呈列其他全面收入 項目

The amendments to HKAS 1 (Revised) require the Group to separate items presented in other comprehensive income into those that may be reclassified to profit and loss in the future (e.g. revaluations of available-for-sale financial assets) and those that may not (e.g. revaluations of property, plant and equipment). Tax on items of other comprehensive income is allocated and disclosed on the same basis. The amendments will be applied retrospectively.

香港會計準則第1號之修訂本（經修 訂）規定本集團將呈列於其他全面收 入之項目分為該等可能於日後重新分 類至損益之項目（如可供出售財務資 產之重新估值）及該等未必會重新分 類至損益之項目（如物業、廠房及設備 之重新估值）。就其他全面收入項目繳 納之稅項會按相同基準進行分配及披 露。此修訂本將獲追溯應用。

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63

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

2. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued)

(b) New/revised HKFRSs that have been issued but are not yet effective (continued)

HKFRS 9 – Financial Instruments

Under HKFRS 9, financial assets are classified into financial assets measured at fair value or at amortised cost depending on the entity’s business model for managing the financial assets and the contractual cash flow characteristics of the financial assets. Fair value gains or losses will be recognised in profit or loss except for those non-trade equity investments, which the entity will have a choice to recognise the gains and losses in other comprehensive income. HKFRS 9 carries forward the recognition, classification and measurement requirements for financial liabilities from HKAS 39, except for financial liabilities that are designated at fair value through profit or loss, where the amount of change in fair value attributable to change in credit risk of that liability is recognised in other comprehensive income unless that would create or enlarge an accounting mismatch. In addition, HKFRS 9 retains the requirements in HKAS 39 for derecognition of financial assets and financial liabilities.

1. 採納香港財務報告準則（「香港 財務報告準則」） （續）

(b) 已頒佈但尚未生效之新訂╱經 修訂香港財務報告準則 （續）

香港財務報告准則第 9 號－金融 工具

• 根據香港財務報告準則第9號，財務資 產分類為按公允價值或按攤銷成本計 量之財務資產，取決於實體管理財務 資產之業務模式及財務資產之合約現 金流量特徵。公允價值損益將於損益 確認，惟對於若干非交易股本投資，實 體可選擇於其他全面收入確認損益。 香港財務報告準則第9號貫徹香港會 計準則第39號有關財務負債確認、分 類及計量規定，惟透過損益按公允價 值列賬之財務負債除外，該負債信貸 風險變動應佔之公允價值變動金額於 其他全面收入確認，除非在其他全面 收入呈列該負債之信貸風險變動影響 會導致或擴大會計錯配。此外，香港財 務報告準則第9號保留香港會計準則 第39號有關終止確認財務資產及財務 負債之規定。

AMCO UNITED HOLDING LIMITED Annual Report 2011

64

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued)

2. (b) New/revised HKFRSs that have been issued but are not yet effective (continued)

HKFRS 10 – Consolidated Financial Statements

1. 採納香港財務報告準則（「香港 財務報告準則」） （續）

2. (b) 已頒佈但尚未生效之新訂╱經 修訂香港財務報告準則 （續）

香港財務報告準則第 10 號－綜 合財務報表

HKFRS 10 introduces a single control model for consolidation of all investee entities. An investor has control when it has power over the investee (whether or not that power is used in practice), exposure or rights to variable returns from the investee and the ability to use the power over the investee to affect those returns. HKFRS 10 contains extensive guidance on the assessment of control. For example, the standard introduces the concept of “de facto” control where an investor can control an investee while holding less than 50% of the investee’s voting rights in circumstances where its voting interest is of sufficiently dominant size relative to the size and dispersion of those of other individual shareholders to give it power over the investee. Potential voting rights are considered in the analysis of control only when these are substantive, i.e. the holder has the practical ability to exercise them. The standard explicitly requires an assessment of whether an investor with decision making rights is acting as principal or agent and also whether other parties with decision making rights are acting as agents of the investor. An agent is engaged to act on behalf of and for the benefit of another party and therefore does not control the investee when it exercises its decision making authority. The implentation of HKFRS 10 may result in changes in those entities which are regarded as being controlled by the Group and are therefore consolidated in the financial statements. The accounting requirements in the existing HKAS 27 on other consolidation related matters are carried forward unchanged. HKFRS 10 is applied retrospectively subject to certain transitional provisions.

香港財務報告準則第10號就綜合計算 所有被投資實體引入單一控股模式。 當投資者有權控制被投資方（不論實 際上有否行使該權力）、對來自被投 資方之浮動回報享有之承擔或權利以 及能運用對被投資方之權力以影響該 等回報時，投資者即擁有控制權。香 港財務報告準則第10號載有評估控制 權之詳細指引。例如，該準則引入「實 際」控制權之概念，即相對其他個人 股東之表決權益之數量及分散情況， 投資者之表決權益數量足以佔優，使 其獲得對被投資方之權力，持有被投 資方表決權少於50%之投資者仍可控 制被投資方。潛在表決權僅在實質存 在（即持有人有實際能力可行使潛在 表決權）時，在分析控制權時考慮。該 準則明確要求評估具有決策權之投資 者是否以委託人或代理人身份行事， 以及具有決策權之其他各方是否以投 資者之代理人身份行事。代理人獲委 聘以代表另一方及為另一方之利益行 事，故在其行使其決策權限時並不控 制被投資方。實施香港財務報告準則 第10號可能導致該等被視為受本集團 控制並因此在財務報表中綜合入賬之 實體出現變動。現行香港會計準則第 27號有關其他綜合計算相關事項之會 計規定貫徹不變。香港財務報告準則 第10號獲追溯應用，惟須受限於若干 過渡性條文。

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2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

2. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued)

(b) New/revised HKFRSs that have been issued but are not yet effective (continued)

HKFRS 12 – Disclosure of Interests in Other Entities

HKFRS 12 integrates and makes consistent the disclosures requirements about interests in subsidiaries, associates and joint arrangements. It also introduces new disclosure requirements, including those related to unconsolidated structured entities. The general objective of the standard is to enable users of financial statements to evaluate the nature and risks of a reporting entity’s interests in other entities and the effects of those interests on the reporting entity’s financial statements.

HKFRS 13 – Fair Value Measurement

HKFRS 13 provides a single source of guidance on how to measure fair value when it is required or permitted by other standards. The standard applies to both financial and nonfinancial items measured at fair value and introduces a fair value measurement hierarchy. The definitions of the three levels in this measurement hierarchy are generally consistent with HKFRS 7 “Financial Instruments: Disclosures”. HKFRS 13 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e. an exit price). The standard removes the requirement to use bid and ask prices for financial assets and liabilities quoted in an active market. Rather the price within the bid-ask spread that is most representative of fair value in the circumstances should be used. It also contains extensive disclosure requirements to allow users of the financial statements to assess the methods and inputs used in measuring fair values and the effects of fair value measurements on the financial statements. HKFRS 13 can be adopted early and is applied prospectively.

2. 採納香港財務報告準則（「香港 財務報告準則」） （續）

(b) 已頒佈但尚未生效之新訂╱經 修訂香港財務報告準則 （續）

香港財務報告準則第 12 號－披 露於其他實體之權益

香港財務報告準則第12號整合有關於 附屬公司、聯營公司及合營安排之權 益之披露規定，並使有關規定貫徹一 致。該準則亦引入新披露規定，包括有 關非綜合計算結構實體之披露規定。 該準則之一般目標是令財務報表使用 者可評估呈報實體於其他實體之權益 之性質及風險及該等權益對呈報實體 之財務報表之影響。

香港財務報告準則第 13 號－公 允價值計量

香港財務報告準則第13號提供有關如 何在其他準則要求或准許時計量公允 價值之單一指引來源。該準則適用於 按公允價值計量之金融項目及非金融 項目，並引入公允價值計量等級。此 計量等級中三個層級之定義一般與香 港財務報告準則第7號「金融工具：披 露」一致。香港財務報告準則第13號 將公允價值界定為在市場參與者於計 量日期進行之有序交易中出售資產所 收取或轉讓負債所支付之價格（即平 倉價）。該準則撤銷以買入價及賣出價 釐定於交投活躍市場掛牌之財務資產 及負債之規定，而應採用買賣差價中 在該等情況下最能代表公允價值之價 格。該準則亦載有詳細之披露規定， 讓財務報表使用者可評估計量公允價 值所採用之方法及輸入數據以及公允 價值計量對財務報表之影響。香港財 務報告準則第13號可提早採用，現按 未來適用基準應用。

AMCO UNITED HOLDING LIMITED 66 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. ADOPTION OF HONG KONG FINANCIAL REPORTING STANDARDS (“HKFRSs”) (continued)

(b) New/revised HKFRSs that have been issued but are not yet effective (continued)

HKFRS 13 – Fair Value Measurement (continued)

1. 採納香港財務報告準則（「香港 財務報告準則」） （續）

2. (b) 已頒佈但尚未生效之新訂╱經 修訂香港財務報告準則 （續）

香港財務報告準則第 13 號－公 允價值計量 （續）

The Group is in the process of making an assessment of the potential impact of these new/revised HKFRSs and the directors are not yet in a position to quantify the effects on the Group’s financial statements.

本集團正在評估該等新訂╱經修訂 香港財務報告準則之潛在影響，而董 事尚未能確定對本集團財務報表之影 響。

3. BASIS OF PREPARATION

(a) Statement of compliance

The consolidated financial statements on page 47 to 183 have been prepared in accordance with all applicable HKFRSs, Hong Kong Accounting Standards (“HKASs”) and Interpretations issued by the HKICPA (hereinafter collectively referred to as the “HKFRSs”) and the disclosure requirements of the Hong Kong Companies Ordinance. In addition, the financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

3. 編製基準

(a) 遵例聲明

第47至183頁之綜合財務報表已根據 香港會計師公會頒佈之所有適用之香 港財務報告準則、香港會計準則（「香 港會計準則」）及詮釋（以下統稱為 「香港財務報告準則」）及香港公司條 例披露規定編製。此外，財務報表包括 香港聯合交易所有限公司證券上市規 則所規定之適用披露資料。

(b) Basis of measurement

(b) 計量基準

The financial statements have been prepared under the historical cost basis except for leasehold land and buildings and certain financial instruments, which are measured at revalued amounts or fair values. The measurement bases are fully explained in the accounting policies set out below.

財務報表乃根據歷史成本基準編製， 惟按經重估金額或公允價值計量之租 賃土地及樓宇以及若干金融工具除 外。計量基準全數於下文所載之會計 政策內闡釋。

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2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

3. BASIS OF PREPARATION (continued)

(b) Basis of measurement (continued)

Accounting estimates and assumptions have been used in preparing these financial statements. Although these estimates and assumptions are based on management’s best knowledge and judgement of current events and conditions, actual results may ultimately differ from those estimates and assumptions. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the Group’s financial statements, are disclosed in note 5.

(c) Functional and presentation currency

Other than those subsidiaries established in the People’s Republic of China (the “PRC”) of which the functional currency is Renminbi (“RMB”), the functional currency of the Company and its subsidiaries is Hong Kong dollars (“HK$”). The consolidated financial statements are presented in HK$, which is the same as the functional currency of the Company.

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

4.1 Business combination and basis of consolidation

The consolidated financial statements comprise the financial statements of the Company and its subsidiaries. Inter-company transactions and balances between group companies together with unrealised profits are eliminated in full in preparing the consolidated financial statements. Unrealised losses are also eliminated unless the transaction provides evidence of impairment on the asset transferred, in which case the loss is recognised in profit or loss.

The results of subsidiaries acquired or disposed of during the year are included in the consolidated statement of comprehensive income from the effective dates of acquisition or up to the effective dates of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group.

3. 編製基準 （續）

(b) 計量基準 （續）

於編製該等財務報告時已採用會計估 計及假設。儘管該等估計及假設乃根 據管理層對當前事件及狀況之最佳認 識及判斷而作出，惟實際結果可能最 終與該等估計及假設不同。涉及較高 程度判斷或複雜之領域或假設及估計 對本集團之財務報表有重大影響之領 域乃於附註5披露。

(c) 功能及呈列貨幣

除於中華人民共和國（「中國」）成立 之該等附屬公司之功能貨幣為人民幣 （「人民幣」）外，本公司及其附屬公司 之功能貨幣為港元（「港元」）。綜合財 務報表以港元呈列，而港元亦乃本公 司之功能貨幣。

4. 主要會計政策概要

4.1 業務合併及綜合基準

綜合財務報表包括本公司及其附屬公 司之財務報表。集團公司之間進行之 公司間交易及結餘以及未變現溢利乃 於編製綜合財務報表時全數對銷。未 變現虧損亦予以對銷，除非該交易提 供有關所轉讓資產之減值證據，於此 情況下，虧損於損益內確認。

年內所收購或出售附屬公司之業績乃 自收購之生效日期起或直至出售之生 效日期為止(按適用情況）計入綜合全 面收益表。倘有必要，將對附屬公司之 財務報表作出調整，以令彼等之會計 政策與本集團其他成員公司所採用者 一致。

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Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.1 Business combination and basis of

1. 主要會計政策概要 （續）

4.1 業務合併及綜合基準 （續）

consolidation (continued)

Acquisition of subsidiaries or businesses is accounted for using the acquisition method. The cost of an acquisition is measured at the aggregate of the acquisition-date fair value of assets transferred, liabilities incurred and equity interests issued by the Group, as the acquirer. The identifiable assets acquired and liabilities assumed are principally measured at acquisitiondate fair value. The Group may elect, on a transaction-bytransaction basis, to measure the non-controlling interest that represent present ownership interests in the subsidiary either at fair value or at the proportionate share of the acquiree’s identifiable net assets. All other non-controlling interests are measured at fair value unless another measurement basis is required by HKFRSs. Acquisition-related costs incurred are expensed unless they are incurred in issuing equity instruments in which case the costs are deducted from equity.

Any contingent consideration to be transferred by the acquirer is recognised at acquisition-date fair value. Subsequent adjustments to consideration are recognised against goodwill only to the extent that they arise from new information obtained within the measurement period (a maximum of twelve months from the acquisition date) about the fair value at the acquisition date. All other subsequent adjustments to contingent consideration classified as an asset or a liability are recognised in profit or loss.

Changes in the Group’s interests in subsidiaries that do not result in a loss of control are accounted for as equity transactions. The carrying amounts of the Group’s interest and the non-controlling interest are adjusted to reflect the changes in their relative interests in the subsidiaries. Any difference between the amount by which the non-controlling interest is adjusted and the fair value of the consideration paid or received is recognised directly in equity and attributed to owners of the Company.

收購附屬公司或業務採用收購法入 賬。收購成本乃按所轉讓資產、所產生 負債及本集團（作為收購方）發行之股 權於收購當日之公允價值總額計量。 所收購的可識別資產及所承擔負債 則主要按收購當日之公允價值計量。 本集團可按每宗交易選擇按公允價值 或按應佔被收購方可識別資產淨值之 比例計算非控股權益（即於附屬公司 之現時所有權權益）。所有其他非控 股權益乃按公允價值計量，除非香港 財務報告準則規定另一計量基準則作 別論。所產生之收購相關成本列作開 支，除非該等成本乃於發行股本工具 時產生，在該情況下，有關成本乃從權 益中扣除。

由收購方將予轉讓之任何或有代價按 收購當日的公允價值確認。其後對代 價之調整僅於調整源自於計量期（最 長為收購日期起12個月）內所取得有 關於收購當日之公允價值的新資料時 方於商譽確認。分類為資產或負債的 或有代價的所有其他其後調整均於損 益確認。

本集團於附屬公司權益之變動並無 導致失去控制權，會作為權益交易入 賬。本集團之權益之賬面值及非控股 權益經調整以反映彼等於附屬公司之 有關權益變動。非控股權益之經調整 金額與已付或已收代價之公允價值間 任何差額直接於權益中確認並歸屬於 本公司之擁有人。

雋泰控股有限公司

69

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.1 Business combination and basis of

4. 主要會計政策概要 （續）

4.1 業務合併及綜合基準 （續）

consolidation (continued)

When the Group loses control of a subsidiary, the profit or loss on disposal is calculated as the difference between (i) the aggregate of the fair value of the consideration received and the fair value of any retained interest and (ii) the previous carrying amount of the assets (including goodwill), and liabilities of the subsidiary and any non-controlling interest. Amounts previously recognised in other comprehensive income in relation to the subsidiary are accounted for in the same manner as would be required if the relevant assets or liabilities were disposed of.

4.2 Subsidiaries

A subsidiary is an entity over which the Company is able to exercise control. Control is achieved where the Company, directly or indirectly, has the power to govern the financial and operating policies of an entity so as to obtain benefits from its activities. In assessing control, potential voting rights that are presently exercisable are taken into account.

In the Company’s statement of financial position, investments in subsidiaries are stated at cost less impairment loss, if any. The results of subsidiaries are accounted for by the Company on the basis of dividend received and receivable.

倘本集團失去對一間附屬公司之控制 權，則於出售時之損益乃以下列兩項 之差額計算：(i)所收取代價之公允價 值及任何保留權益公允價值之總和及 (ii)附屬公司先前之資產（包括商譽）及 負債及任何非控股權益之賬面值。有 關於附屬公司之早前於其他全面收益 確認之金額會與如須出售相關資產或 負債相同方式確認。

4.2 附屬公司

附屬公司乃指本公司可行使控制權之 實體。倘本公司有權直接或間接控制 實體的財務及營運政策藉以從其業務 取得利益，則獲得控制權。於評定是否 擁有控制權時，會計及當前可予行使 之潛在投票權。

於本公司之財務狀況表內，於附屬公 司之投資按成本減減值虧損（如有）列 賬。附屬公司的業績由本公司以已收 及應收股息基準入賬。

AMCO UNITED HOLDING LIMITED 70 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.3 Goodwill

4. 主要會計政策概要 （續）

4.3 商譽

Goodwill is initially recognised at cost being the excess of the aggregate of consideration transferred and the amount recognised for non-controlling interests over the fair value of identifiable assets, liabilities and contingent liabilities acquired.

商譽初步按成本確認，成本即所轉移 代價與就非控股權益確認之金額總額 超出所收購可識別資產、負債及或然 負債之公允價值之部份。

Where the fair value of identifiable assets, liabilities and contingent liabilities exceed the fair value of consideration paid, the excess is recognised in profit or loss on the acquisition date, after re-assessment.

倘可識別資產、負債及或然負債之公 允價值高於所付代價之公允價值，則 超出部份於重估後於收購日期在損益 確認。

Goodwill is measured at cost less impairment losses. For the purpose of impairment testing, goodwill arising from an acquisition is allocated to each of the relevant cash-generating units that are expected to benefit from the synergies of the acquisition. A cash-generating unit to which goodwill has been allocated is tested for impairment annually, and whenever there is an indication that the unit may be impaired.

商譽乃以成本減減值虧損計量。就減 值測試而言，收購所產生之商譽乃被 分配到相關預期彼等從收購之協同效 應中受益之各現金產生單位。已獲分 配商譽之現金產生單位將每年及每當 單位有可能出現減值跡象時進行減值 測試。

For goodwill arising on an acquisition in a financial year, the cash-generating unit to which goodwill has been allocated is tested for impairment before the end of that financial year. When the recoverable amount of the cash-generating unit is less than the carrying amount of the unit, the impairment loss is allocated to reduce the carrying amount of any goodwill allocated to the unit first, and then to the other assets of the unit pro-rata on the basis of the carrying amount to each asset in the unit. Any impairment loss for goodwill is recognised in profit or loss and is not reversed in subsequent periods.

就於某個財政年度進行收購產生之商 譽而言，已獲分配商譽之現金產生單 位於該財政年度末前進行減值測試。 倘現金產生單位之可收回金額少於單 位之賬面值，則減值虧損先分配以減 少分配至單位之任何商譽之賬面值， 再按單位內各資產賬面值按比例分配 至單位之其他資產。任何商譽之減值 虧損於損益確認，且不會於往後期間 撥回。

On disposal of the relevant cash-generating unit, the attributable amount of goodwill capitalised is included in the determination of the amount of profit or loss on disposal.

於出售相關現金產生單位時，已資本 化的商譽的應佔金額已包括在釐定出 售時的盈虧金額內。

雋泰控股有限公司 2011 年報

71

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. 主要會計政策概要 （續）

4.4 Property, plant and equipment

Leasehold land and buildings are stated at valuation less accumulated depreciation and any subsequent accumulated impairment losses. Revaluations are performed with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair values at the end of the reporting period. Increases in value arising on revaluation are recognised in other comprehensive income and accumulated in equity under the heading of properties revaluation reserve. Decreases in value arising on revaluation are first offset against increases on earlier valuations in respect of the same property and thereafter recognised in profit or loss. Any subsequent increases are recognised in profit or loss up to the amount previously charged and thereafter to the properties revaluation reserve.

Upon disposal, the relevant portion of the revaluation reserve realised in respect of previous valuations is released from the properties revaluation reserve to retained earnings.

Other property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses.

The cost of property, plant and equipment includes its purchase price and the costs directly attributable to the acquisition of the items.

Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All other repairs and maintenance are recognised as an expense in profit or loss during the financial period in which they are incurred.

4. 主要會計政策概要 （續）

4.4 物業、廠房及設備

租賃土地及樓宇乃以估值減累計折舊 及任何其後累計減值虧損列賬。重估 會足夠定期進行，以便賬面值不會與 報告期末時採用公允價值所釐定者出 現重大差異。重估產生之增值會於其 他全面收益確認並於權益中物業重估 儲備項下累計。重估減值首先對銷同 一物業早前之估值增值，其後於損益 內確認。其後任何增值以之前已扣除 的金額為限於損益內確認，其後計入 物業重估儲備。

於出售時，與過往估值有關的已變現 重估儲備的相關部份自物業重估儲備 轉計入保留盈利。

其他物業、廠房及設備乃按成本減累 計折舊及累計減值虧損列賬。

物業、廠房及設備之成本包括其購買 價及收購該等項目直接應佔之成本。

倘與資產項目有關之未來經濟利益可 能流入本集團，而該項目之成本能可 靠計量，方會將其後成本計入資產的 賬面值或確認為獨立資產（如適用）。 重置部份之賬面值會解除確認。所有 其他維修及保養於產生之財政期間於 損益內確認為開支。

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72

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.4 Property, plant and equipment (continued)

Property, plant and equipment are depreciated so as to write off their cost or valuation net of expected residual value over their estimated useful lives on a straight-line basis. The useful lives, residual value and depreciation method are reviewed, and adjusted if appropriate, at the end of each reporting period. The useful lives are as follows:

4. 主要會計政策概要 （續）

4.4 物業、廠房及設備 （續）

物業、廠房及設備於估計可使用年期 按直線法計提折舊以撇銷其成本或估 值（扣除預期剩餘價值）。可使用年 期、剩餘價值及折舊方法均會於各報 告期末進行評估，並在適當時作出調 整。可使用年期如下：

Leasehold land and buildings	Shorter of 40 years or	租賃土地及樓宇	40年或按其租期
	over the term of the leases		（以較短者為準）
			計算
Plant and machinery	5 – 10 years	廠房及設備	5至10年
Furniture, fixtures and equipment	5 years	傢俬、裝置及設備	5年
Motor vehicles	3 – 5 years	汽車	3至5年

Assets held under finance leases are depreciated over their expected useful lives on the same basis as owned assets, or where shorter, the term of the relevant lease.

根據融資租賃持有之資產乃按與自置 資產相同之基準於其預計可使用年期 或租約期（以較短者為準）內計算折 舊。

The gain or loss on disposal of an item of property, plant and equipment is the difference between the net sale proceeds and its carrying amount, and is recognised in profit or loss on disposal.

出售物業、廠房及設備項目收益或虧 損為出售所得款項淨額與賬面值間之 差額，並於出售時於損益中確認。

4.5 Leasing

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to lessee. All other leases are classified as operating leases.

4.5 租賃

當租賃條款將絕大部份擁有權之風險 及回報轉移予承租人時，該租賃均被 分類為融資租賃。所有其他租賃均分 類為經營租賃。

雋泰控股有限公司 2011 年報

73

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.5 Leasing (continued)

The Group as lessee

Assets held under finance leases are initially recognised as assets at their fair value or, if lower, the present value of the minimum lease payments. The corresponding lease commitment is shown as a liability. Lease payments are analysed between capital and interest. The interest element is charged to profit or loss over the period of the lease and is calculated so that it represents a constant proportion of the lease liability. The capital element reduces the balance owed to the lessor.

The total rentals payable under the operating leases are recognised in profit or loss on a straight-line basis over the lease term. Lease incentives received are recognised as an integrated part of the total rental expense, over the term of the lease.

4.6 Intangible assets

(a) Acquired intangible assets

Intangible assets acquired separately are initially recognised at cost. The cost of intangible assets acquired in a business combination is fair value at the date of acquisition. Subsequently, intangible assets with finite useful lives are carried at cost less accumulated amortisation and accumulated impairment losses. Intangible assets with indefinite useful lives are carried at cost less any accumulated impairment losses.

Amortisation is provided on a straight-line basis over their useful lives as follows:

Distribution channels	10 years
Technical know-how	5 – 10 years

The amortisation expense is recognised in profit or loss and included in administrative expenses.

4. 主要會計政策概要 （續）

4.5 租賃 （續）

本集團為承租人

按融資租約持有之資產以公允價值， 如較低者，則按最低租約付款之現值 初始確認為資產。相應租賃承擔列作 負債。租賃付款分析為資本及利息。 利息部份於租期內在損益扣除，其計 算是為得出租賃負債的一個固定比 例。資本部份會削減應付予出租人之 結餘。

根據經營租賃應付之租金總額於租賃 年期內以直線法於損益內確認。所收 取的租賃優惠會作為總租金開支之不 可分割的一部份在租賃年期內確認。

4.6 無形資產

(a) 已收購之無形資產

獨立收購之無形資產初步按成本 確認。於業務合併中收購之無形 資產成本為收購日期之公允價 值。其後，具有限可使用年期之 無形資產乃按成本減累計攤銷及 累計減值虧損列賬。具無限可使 用年期之無形資產乃按成本減任 何累計減值虧損列賬。

攤銷乃以直線法按以下可使用年 期計提撥備；

分銷渠道	10年
技術知識	5至10年

攤銷開支在損益確認並包括在行 政開支內。

AMCO UNITED HOLDING LIMITED Annual Report 2011

74

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.6 Intangible assets (continued)

(b) Internally generated intangible assets (Development cost)

Expenditure on internally developed products is capitalised if it can be demonstrated that:

4. 主要會計政策概要 （續）

4.6 無形資產 （續）

• (b) 內部產生之無形資產（開發 成本）

內部已開發產品之開支倘可證實 以下事項則予以資本化：

• it is technically feasible to develop the product for it to be sold;

• － 開發產品，以致其可供出售 在技術上可行；

• adequate resources are available to complete the development;

• － 擁有可供完成開發之充足資 源；

• there is an intention to complete and sell the product;

• － 有完成及銷售該產品之意 向；

• the Group is able to sell the product;

• － 本集團有能力銷售該產品；

• sale of the product will generate future economic benefits; and

• － 銷售該產品將產生未來經濟 利益；及

• expenditure on the project can be measured reliably.

• － 該項目開支能可靠計量。

Capitalised development costs are amortised over the periods the Group expects to benefit from selling the products developed. The amortisation expense is recognised in profit or loss and included in cost of sales.

資本化之開發成本乃於本集團預 期將從銷售已開發產品之獲利期 間攤銷。攤銷費用於損益內確認 並計入銷售成本。

Development expenditure not satisfying the above criteria and expenditure on the research phase of internal projects are recognised in profit or loss as incurred.

未符合上述標準之開發費用及內 部項目在研究階段之費用乃於產 生時於損益內確認。

雋泰控股有限公司

75

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.6 Intangible assets (continued)

(c) Impairment

Intangible assets with indefinite useful lives and intangible assets not yet available for use are tested for impairment annually by comparing their carrying amounts with their recoverable amounts, irrespective of whether there is any indication that they may be impaired. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount.

An impairment loss is recognised as an expense immediately, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as revaluation decrease.

When an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years.

Intangible assets with finite lives are tested for impairment when there is an indication that an asset may be impaired (see the accounting policies in respect of impairment losses of other assets below).

4. 主要會計政策概要 （續）

4.6 無形資產 （續）

(c) 減值

具無限可使用年期之無形資產及 尚未可供使用之無形資產每年進 行減值測試，方法為比較其可收 回款額與賬面值，而不論是否出 現可能減值之跡象。倘估計資產 之可收回款額低於其賬面值，則 資產賬面值須減低至其可收回款 額。

減值虧損會即時確認為開支，除 非有關資產按經重估金額列賬， 於此情況下減值虧損視作重估減 少。

倘減值虧損其後撥回，則資產賬 面值須增加至其經修訂之估計可 收回款額，惟就此增加之賬面值 不得超過假設過往年度並無就資 產確認任何減值虧損下而釐定之 賬面值。

具有限可使用年期之無形資產乃 當出現可能減值之跡象時進行減 值測試（見下文有關其他資產之 減值虧損之會計政策）。

AMCO UNITED HOLDING LIMITED Annual Report 2011

76

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.6 Intangible assets (continued)

(c) Impairment (continued)

An intangible asset is derecognised on disposal, or when no future economic benefits are expected from use or disposal. Gains or losses arising from derecognition of an intangible asset, measured as the difference between the net disposal proceeds process and the carrying amount of the asset, are recognised in profit or loss in the period when the asset is derecognised.

4. 主要會計政策概要 （續）

4.6 無形資產 （續）

(c) 減值 （續）

無形資產於出售或當預期使用或 出售時不會帶來未來經濟利益 時解除確認。解除確認無形資產 產生的收益或虧損按出售所得款 項淨額與資產賬面值間的差額計 算，並於解除確認資產的期間在 損益內確認。

4.7 Financial instruments

Financial assets

4.7 金融工具

財務資產

The Group classifies its financial assets at initial recognition, depending on the purpose for which the asset was acquired. Loans and receivables and Available-for-sale financial assets are initially measured at fair value plus transaction costs that are directly attributable to the acquisition of the financial assets. Regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. A regular way purchase or sale is a purchase or sale of a financial asset under a contract whose terms require delivery of the asset within the time frame established generally by regulation or convention in the marketplace concerned.

本集團視乎已收購資產之目的將財務 資產於初步確認時分類。貸款及應收 款項以及可供出售財務資產初步按公 允價值加收購財務資產直接應佔之交 易成本計量。從正規途徑購買或出售 之財務資產按交易日基準確認及解除 確認。從正規途徑購買或出售之財務 資產乃按合約購買或出售財務資產， 其條款規定須按市場規例或慣例普遍 訂立之時限內交付資產。

Loans and receivables

貸款及應收款項

These assets are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise principally through the provision of goods and services to customers (trade debtors), and also incorporate other types of contractual monetary asset. Subsequent to initial recognition, they are carried at amortised cost using the effective interest method, less any identified impairment losses.

該等資產為附有固定或可訂定付款額 而並無在活躍市場上提供報價的非 衍生財務資產。彼等主要透過向客戶 提供貨品及服務而產生（應收貿易賬 款），亦涵蓋其他類別的合約貨幣資 產。於初步確認後，彼等採用實際利率 法按攤銷成本減任何已識別的減值虧 損列賬。

雋泰控股有限公司 2011 年報

77

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.7 Financial instruments (continued)

Financial assets (continued)

Available-for-sale financial assets

These assets are non-derivative financial assets that are designated as available-for-sale or are not included in other categories of financial assets. Subsequent to initial recognition, these assets are carried at fair value with changes in fair value recognised in other comprehensive income, except for impairment losses and foreign exchange gains and losses on monetary instruments, which are recognised in profit or loss.

Impairment loss on financial assets

The Group assesses, at the end of each reporting period, whether there is any objective evidence that financial asset is impaired. Financial asset is impaired if there is objective evidence of impairment as a result of one or more events that has occurred after the initial recognition of the asset and that event has an impact on the estimated future cash flows of the financial asset that can be reliably estimated. Evidence of impairment may include:

• significant financial difficulty of the debtor;

• a breach of contract, such as a default or delinquency in interest or principal payments;

• granting concession to a debtor because of debtor’s financial difficulty; and

• it becoming probable that the debtor will enter bankruptcy or other financial reorganisation.

4. 主要會計政策概要 （續）

4.7 金融工具 （續）

財務資產 （續）

可供出售財務資產

該等資產為指定為可供出售或並非包 括在其他財務資產類別之非衍生財務 資產。於初步確認後，該等資產乃按公 允價值列賬，而公允價值變動則於其 他全面收益內確認，惟貨幣工具之減 值虧損及外匯盈虧均於損益內確認除 外。

財務資產之減值虧損

本集團於各報告期末評估財務資產有 否出現減值之客觀證據。倘有客觀證 據顯示減值乃基於初步確認財務資產 後發生一件或多件事件，而有關事件 對財務資產估計未來現金流量之影 響能夠可靠計量，財務資產將予以減 值。減值證據可能包括：

• 債務人出現嚴重財務困難；

• －

• － 違約，如逾期或拖欠利息或本金 還款；

• － 由於債務人出現財務困難而給予 寬免還款；及

• － 債務人有可能破產或進行其他財 務重組。

AMCO UNITED HOLDING LIMITED Annual Report 2011

78

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.7 Financial instruments (continued)

Financial assets (continued)

4. 主要會計政策概要 （續）

4.7 金融工具 （續）

財務資產 （續）

Impairment for Loans and receivables

貸款及應收款項減值

For financial assets carried at amortised cost, impairment loss is recognised in profit or loss and directly reduces the carrying amount of financial asset when there is objective evidence that the asset is impaired, and is measured as the difference between the asset’s carrying amount and the present value of the estimated future cash flows discounted at the original effective interest rate.

對於按攤銷成本列賬之財務資產而 言，當有客觀證據顯示資產已減值， 則於損益確認減值虧損及直接削減財 務資產之賬面值，並按資產賬面值與 按原實際利率貼現之估計日後現金流 量現值之差額計算。

For certain categories of financial asset, such as trade and other receivables, the carrying amount of financial asset is reduced through the use of an allowance account. Changes in the carrying amount of the allowance account are recognised in profit or loss. When any part of financial asset is determined as uncollectible, it is written off against the allowance account for the relevant financial asset. Financial assets that are assessed not to be impaired individually are subsequently assessed for impairment on a collective basis. Objective evidence of impairment for a portfolio of receivables could include the Group’s past experience of collecting payments, an increase in the number of delayed payments in the portfolio past the average credit period of 30 to 90 days, observable changes in national or local economic conditions that correlate with default on receivables.

就若干類別財務資產（例如貿易及其 他應收款項）而言，財務資產之賬面值 乃透過使用備抵賬減少。備抵賬之賬 面值變動於損益內確認。當財務資產 之任何部份釐定不可收回時，其乃於 有關財務資產之備抵賬內撇銷。個別 評估並無減值之財務資產其後按整體 基準評估減值。應收款項組合減值之 客觀證據可包括本集團之過往收款經 驗、組合內延遲還款至超逾平均信貸 期30至90天之次數增加，以及與應收 賬款逾期有關之全國或地方經濟狀況 明顯改變。

Impairment losses are reversed in subsequent periods when an increase in the asset’s recoverable amount can be related objectively to an event occurring after the impairment was recognised, subject to a restriction that the carrying amount of the asset at the date the impairment is reversed does not exceed what the amortised cost would have been had the impairment not been recognised.

當該資產之可收回金額增加可以客觀 地與減值確認後發生之事件有關連 時，則減值虧損於往後期間撥回，惟 該資產於撥回減值當日之賬面值不得 超出並無確認減值時原應有之攤銷成 本。

雋泰控股有限公司 2011 年報

79

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.7 Financial instruments (continued)

Financial assets (continued)

Impairment for Available-for-sale financial assets

Where a decline in the fair value constitutes objective evidence of impairment, the amount of the loss is removed from equity and recognised in profit or loss.

Any impairment losses on available-for-sale debt investments are subsequently reversed in profit or loss if an increase in the fair value of the investment can be objectively related to an event occurring after the recognition of the impairment loss.

For available-for-sale equity investment, any increase in fair value subsequent to an impairment loss is recognised in other comprehensive income.

Financial liabilities and equity instruments

Financial liabilities and equity instruments issued by a group entity are classified according to the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument.

An equity instrument is any contract that evidences a residual interest in the assets of the group after deducting all of its liabilities.

The Group classifies its financial liabilities, depending on the purpose for which the liabilities were incurred. Financial liabilities at fair value through profit or loss are initially measured at fair value and financial liabilities at amortised costs are initially measured at fair value, net of directly attributable costs incurred.

4. 主要會計政策概要 （續）

4.7 金融工具 （續）

財務資產 （續）

可供出售財務資產之減值

倘公允價值下跌構成客觀減值證據， 虧損金額便會從權益中扣除，並於損 益內確認。

倘投資之公允價值增加可能客觀地涉 及確認減值虧損後發生之事件，則可 供出售債務投資之任何減值虧損則於 其後在損益撥回。

可供出售股本權益投資於減值虧損後 之任何公允價值增加乃於其他全面收 益內確認。

財務負債及股本工具

由集團實體發行之財務負債及股本工 具乃根據所訂立之合約之具體安排與 財務負債及股本工具之定義而分類。

股本工具是證明在扣除所有負債後享 有集團資產餘下權益之任何合約。

本集團根據產生負債之目的分類其財 務負債。透過損益按公允價值列賬之 財務負債初步按公允價值計量，而按 攤銷成本列賬之財務負債初步按公允 價值扣除所產生之直接應佔成本計 量。

AMCO UNITED HOLDING LIMITED Annual Report 2011

80

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.7 Financial instruments (continued)

Financial liabilities and equity instruments

4. 主要會計政策概要 （續）

4.7 金融工具 （續）

財務負債及股本工具 （續）

(continued)

Financial liabilities at fair value through profit or loss

透過損益按公允價值列賬之財務負債

Financial liabilities at fair value through profit or loss include financial liabilities held for trading and financial liabilities designated upon initial recognition as at fair value through profit or loss.

透過損益按公允價值列賬之財務負債 包括持作交易之財務負債及於初步確 認時指定為透過損益按公允價值列賬 之財務負債。

Financial liabilities are classified as held for trading if they are acquired for the purpose of sale in the near term. Derivatives, including separated embedded derivatives, are also classified as held for trading unless they are designated as effective hedging instruments. Gains or losses on liabilities held for trading are recognised in profit or loss.

倘購買財務負債之目的為於近期出 售，則財務負債應分類為持作交易用 途。衍生工具（包括獨立嵌入式衍生工 具）亦分類為持作交易用途，除非其被 指定為有效之對沖工具則另作別論。 持作交易用途之負債之收益或虧損於 損益內確認。

Where a contract contains one or more embedded derivatives, the entire hybrid contract may be designated as a financial liability at fair value through profit or loss, except where the embedded derivative does not significantly modify the cash flows or it is clear that separation of the embedded derivative is prohibited.

倘一項合約包括一項或多項嵌入式衍 生工具，則整份混合合約可指定為透 過損益按公允價值列賬之財務負債， 除非該嵌入式衍生工具不會對現金流 量產生重大改變，或明確禁止將嵌入 式衍生工具分開列賬則另作別論。

Financial liabilities may be designated upon initial recognition as at fair value through profit or loss if the following criteria are met: (i) the designation eliminates or significantly reduces the inconsistent treatment that would otherwise arise from measuring the liabilities or recognising gains or losses on them on a different basis; (ii) the liabilities are part of a group of financial liabilities which are managed and their performance evaluated on a fair value basis, in accordance with a documented risk management strategy; or (iii) the financial liability contains an embedded derivative that would need to be separately recorded.

倘符合下列條件，財務負債或會於初 步確認時被指定為透過損益按公允價 值列賬之負債：(i)該項指定撇銷或大 幅減低因按不同基準而計量負債或確 認有關負債之收益或虧損而另行引起 之不一致處理方法；(ii)負債乃一組財 務負債之一部份，而該等財務負債乃 根據已明定之風險管理策略及按公允 價值評定表現；或(iii)該財務負債包括 嵌入式衍生工具須獨立記錄。

雋泰控股有限公司

81

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.7 Financial instruments (continued)

Financial liabilities and equity instruments

4. 主要會計政策概要 （續）

4.7 金融工具 （續）

財務負債及股本工具 （續）

(continued)

Financial liabilities at fair value through profit or loss

(continued)

Subsequent to initial recognition, financial liabilities at fair value through profit or loss are measured at fair value, with changes in fair value recognised in profit or loss in the period in which they arise.

Financial liabilities at amortised cost

Financial liabilities at amortised cost including trade and other payables, bank and other borrowings, obligation under finance lease and the liability components of convertible bonds issued by the Group are subsequently measured at amortised cost, using the effective interest method. The related interest expense is recognised in profit or loss.

Gains or losses are recognised in profit or loss when the liabilities are derecognised as well as through the amortisation process.

Convertible bonds

Convertible bonds contain liability component and conversion option derivative

Convertible bonds issued by the Group that contain both liability and conversion option components are classified separately into their respective items on initial recognition. Conversion option that will be settled other than by the exchange of a fixed amount of cash or another financial asset for a fixed number of the Company’s own equity instruments is a conversion option derivative. At the date of issue, the conversion option derivative is recognised at fair value. Any excess of proceeds over the amount initially recognised as the derivative component is recognised as liability.

透過損益按公允價值列賬之財務負債 （續）

於初步確認後，透過損益按公允價值 列賬之財務負債乃按公允價值計量， 而公允價值變動則於產生期間於損益 確認。

按攤銷成本列賬之財務負債

按攤銷成本列賬之財務負債（包括應 付貿易賬款及其他應付款項、銀行及 其他借貸、融資租賃承擔及本集團所 發行可換股債券之負債部份）其後採 用實際利率法按攤銷成本計量。相關 利息開支於損益內確認。

倘負債透過攤銷過程被解除確認，則 於損益確認盈虧。

可換股債券

可換股債券包括負債部份及轉換權衍 生工具

本集團發行之可換股債券（包括負債 及轉換權部份）於初步確認時乃單獨 分類為彼等各自之項目內。將以固定 金額現金或另一財務資產換取固定數 目本公司本身之股本工具以外之方式 結算之轉換權為轉換權衍生工具。於 發行日期，轉換權衍生工具按公允價 值確認。所得款項超出初步確認為衍 生工具部份之金額之任何部份乃確認 為一項負債。

AMCO UNITED HOLDING LIMITED Annual Report 2011

82

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.7 Financial instruments (continued)

Convertible bonds (continued)

4. 主要會計政策概要 （續）

4.7 金融工具 （續）

可換股債券 （續）

Convertible bonds contain liability component and conversion option derivative (continued)

可換股債券包括負債部份及轉換權衍 生工具（續）

In subsequent periods, the liability component of the convertible bonds is carried at amortised cost using the effective interest method, until extinguished on conversion or maturity. The conversion option derivative is measured at fair value with changes in fair value recognised in profit or loss.

於其後期間，可換股債券之負債部份 乃採用實際利率法按攤銷成本列賬， 直至於轉換或到期時取消為止。轉換 權衍生工具乃按公允價值計量，而公 允價值變動於損益內確認。

When the bonds are converted, the carrying amount of the liability portion together with the fair value of the conversion derivative at the time of conversion are transferred to share capital and share premium as consideration for the shares issued. When the notes are redeemed, and difference between the redemption amount and the carrying amounts of both components is recognised in profit or loss.

當該等債券獲轉換時，負債部份之賬 面值連同於轉換時轉換衍生工具之公 允價值乃作為已發行股份之代價轉撥 至股本及股份溢價。當該等票據獲贖 回時，則贖回金額與兩個部份賬面值 之差額乃於損益內確認。

Transaction costs that relate to the issue of the convertible bonds are allocated to the liability components in proportion to the allocation of the proceeds.

與發行可換股債券有關之交易成本按 分配所得款項之比例分配至負債部 份。

雋泰控股有限公司 2011 年報

83

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.7 Financial instruments (continued)

Effective interest method

The effective interest method is a method of calculating the amortised cost of a financial asset or financial liability and of allocating interest income or interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts or payments through the expected life of the financial asset or liability, or where appropriate, a shorter period.

Equity instruments

Equity instruments issued by the Company are recorded at the proceeds received, net of direct issue costs.

Derecognition

The Group derecognises a financial asset when the contractual rights to the future cash flows in relation to the financial asset expire or when the financial asset has been transferred and the transfer meets the criteria for derecognition in accordance with HKAS 39.

Financial liabilities are derecognised when the obligation specified in the relevant contract is discharged, cancelled or expires.

4. 主要會計政策概要 （續）

4.7 金融工具 （續）

實際利率法

實際利率法乃計算財務資產或財務負 債之攤銷成本，以及於相關期間攤分 利息收入或利息支出之方法。實際利 率是指可準確將估計未來現金收支於 財務資產或負債之預計年期或較短期 間（如適用）貼現之利率。

股本工具

本公司發行的股本工具按所收取的所 得款項列賬，並扣除直接發行成本。

解除確認

當有關財務資產的未來現金流量的合 約權利屆滿時，或當財務資產已轉讓 及該項轉讓符合香港會計準則第39號 之解除確認標準時，則本集團解除確 認該項財務資產。

當有關合約列明的責任獲解除、撤銷 或屆滿時，即解除確認有關財務負 債。

AMCO UNITED HOLDING LIMITED 84 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.7 Financial instruments (continued)

Derecognition (continued)

4. 主要會計政策概要 （續）

4.7 金融工具 （續）

解除確認 （續）

Where the Group issues its own equity instruments to a creditor to settle a financial liability in whole or in part as a result of renegotiating the terms of that liability, the equity instruments issued are the consideration paid and are recognised initially and measured at their fair value on the date the financial liability or part thereof is extinguished. If the fair value of the equity instruments issued cannot be reliably measured, the equity instruments are measured to reflect the fair value of the financial liability extinguished. The difference between the carrying amount of the financial liability or part thereof extinguished and the consideration paid is recognised in profit or loss for the year.

倘本集團於重新磋商財務負債之條款 後向債權人發行其本身之股本工具以 償付全部或部份該項負債，則所發行 之股本工具為已付代價並初步確認及 於抵銷財務負債或其部份之日期按其 公允價值計量。倘所發行股本工具之 公允價值不能可靠計量，則計量股本 工具以反映所抵銷財務負債之公允價 值。所抵銷財務負債或其部份之賬面 值與已付代價之差額乃於年度損益內 確認。

4.8 Inventories

4.8 存貨

Inventories are initially recognised at cost, and subsequently at the lower of cost and net realisable value. Cost comprises all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition. Cost is calculated using the weighted average method. Net realisable value represents the estimated selling price in the ordinary course of business less the estimated costs necessary to make the sale.

存貨最初以成本確認，之後按成本及 可變現淨值兩者中的較低者入賬。成 本包括所有採購成本、轉換成本及將 存貨運至現行地點及使其達到現時狀 況所產生的其他相關成本。成本按加 權平均法計算。可變現淨值為正常業 務過程中的估計售價減進行出售必需 的估計成本。

4.9 Cash and cash equivalents

4.9 現金及現金等值項目

Cash and cash equivalents include cash at banks and in hands, demand deposits with banks and short term highly liquid investments with original maturities of three months or less that are readily convertible into known amounts of cash and which are subject to an insignificant risk of changes in value. For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and short-term deposits as defined above, net of outstanding bank overdrafts.

現金及現金等值項目包括於銀行及手 頭上之現金、銀行活期存款及原到期 日為三個月或以下並可輕易兌換為已 知現金數額且承受之價值變動風險並 不重大之短期高流通量投資。就綜合 現金流量表而言，現金及現金等值項 目包括如上述界定之現金及短期存款 （扣除尚未償還之銀行透支）。

雋泰控股有限公司 2011 年報

85

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.10 Revenue recognition

Revenue comprises the fair value of the consideration received or receivable for the sale of goods and rendering of services in the normal course of business, net of discounts and sales related taxes.

Revenue from sales of goods is recognised on transfer of risks and rewards of ownership, which is at the time of delivery and the title is passed to customer.

Interest income is accrued on a time basis on the principal outstanding at the applicable interest rate.

4.11 Income taxes

Income taxes for the year comprise current tax and deferred tax.

Current tax is based on the profit or loss from ordinary activities adjusted for items that are non-assessable or disallowable for income tax purposes and is calculated using tax rates that have been enacted or substantively enacted at the end of reporting period.

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the corresponding amounts used for tax purposes. Except for goodwill and recognised assets and liabilities that affect neither accounting nor taxable profits, deferred tax liabilities are recognised for all temporary differences. Deferred tax assets are recognised to the extent that it is probable that taxable profits will be available against which deductible temporary differences can be utilised. Deferred tax is measured at the tax rates expected to apply in the period when the liability is settled or the asset is realised based on tax rates that have been enacted or substantively enacted at the end of reporting period.

4. 主要會計政策概要 （續）

4.10 收入確認

收入包含銷售貨品及於一般業務過程 中提供服務之已收或應收代價之公允 價值（扣除折扣及銷售相關稅項）。

銷售貨品之收入於擁有權風險及回報 轉移時，即於交付及業權轉予客戶時 確認。

利息收入乃依據未償還本金額按適用 利率以時間基準累計。

4.11 所得稅

本年度的所得稅包括即期稅項及遞延 稅項。

即期稅項乃根據日常業務中的損益項 目計算，並根據就所得稅而言屬非課 稅或不獲減免項目而作出調整，以及 使用於報告期末已制定或實質已制定 的稅率計算。

遞延稅項乃就財務申報而言資產及負 債的賬面值與用作課稅而言的相應 款項兩者之間的臨時差額予以確認。 除商譽及對會計及應課稅溢利均不會 造成影響的已確認資產及負債外，遞 延稅項負債就所有臨時差額確認。遞 延稅項資產在有可動用應課稅溢利以 扣除臨時差額的情況下予以確認。遞 延稅項乃以預計於期內適用的稅率計 算，而負債或資產則根據於報告期末 已制定或實質已制定的稅率分別償還 及變現。

AMCO UNITED HOLDING LIMITED Annual Report 2011

86

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.11 Income taxes (continued)

4. 主要會計政策概要 （續）

4.11 所得稅 （續）

Deferred tax liabilities are recognised for taxable temporary differences arising on investments in subsidiaries, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference will not reverse in the foreseeable future.

除本集團可控制臨時差額之撥回及臨 時差額有可能在可預見未來不予撥回 之情況外，因投資附屬公司而引致之 應課稅臨時差額確認遞延稅項負債。

Income taxes are recognised in profit or loss except when they relate to items recognised in other comprehensive income in which case the taxes are also recognised in other comprehensive income.

所得稅乃於損益中確認，惟所得稅與 於其他全面收益確認之項目有關則除 外，在此情況下，該等稅項亦於其他全 面收益中確認。

4.12 Foreign currency

Transactions entered into by group entities in currencies other than the currency of the primary economic environment in which they operate (the “functional currency”) are recorded at the rates ruling when the transactions occur. Foreign currency monetary assets and liabilities are translated at the rates ruling at the end of reporting period. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing on the date when the fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.

4.12 外幣

集團實體以其經營所在主要經濟環境 貨幣（「功能貨幣」）以外的貨幣進行 的交易，按進行交易時的適用匯率入 賬。外幣貨幣資產及負債則以報告期 末的適用匯率換算。以外幣表示公允 價值的非貨幣項目按公允價值釐定日 期的現行匯率重新換算。以外幣歷史 成本計量的非貨幣項目毋須重新換 算。

Exchange differences arising on the settlement of monetary items, and on the translation of monetary items, are recognised in profit or loss in the period in which they arise. Exchange differences arising on the retranslation of nonmonetary items carried at fair value are included in profit or loss for the period except for differences arising on the retranslation of non-monetary items in respect of which gains and losses are recognised in other comprehensive income, in which case, the exchange differences are also recognised in other comprehensive income.

因結算貨幣項目及換算貨幣項目而產 生的匯兌差額於彼等產生期間在損益 中確認。因重新換算以公允價值表示 的非貨幣項目而產生的匯兌差額計入 當期損益內，惟重新換算收益及虧損 於其他全面收入內確認的非貨幣項目 而產生的差額除外，在此情況下，匯兌 差額亦於其他全面收入內確認。

雋泰控股有限公司 2011 年報

87

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.12 Foreign currency (continued)

On consolidation, income and expense items of foreign operations are translated into the presentation currency of the Group (i.e. Hong Kong dollars) at the average exchange rates for the year, unless exchange rates fluctuate significantly during the period, in which case, the rates approximating to those ruling when the transactions took place are used. All assets and liabilities of foreign operations are translated at the rate ruling at the end of reporting period. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in equity as translation reserve (attributed to non-controlling interests as appropriate). Exchange differences recognised in profit or loss of group entities’ separate financial statements on the translation of long-term monetary items forming part of the Group’s net investment in the foreign operation concerned are reclassified to other comprehensive income and accumulated in equity as translation reserve.

On disposal of a foreign operation, the cumulative exchange differences recognised in the translation reserve relating to that operation up to the date of disposal are reclassified to profit or loss as part of the profit or loss on disposal.

Goodwill and fair value adjustments on identifiable assets acquired arising on an acquisition of a foreign operation are treated as assets and liabilities of that foreign operation and translated at the rate of exchange prevailing at the end of reporting period. Exchange differences arising are recognised in the translation reserve.

4. 主要會計政策概要 （續）

4.12 外幣 （續）

綜合賬目時，海外業務的收支項目以 年內平均匯率換算為本集團的呈列貨 幣（即港元），除非期內匯率大幅波 動，則按進行該等交易時的相若匯率 換算。所有海外業務的資產及負債均 以報告期末的適用匯率換算。所產生 的匯兌差額（如有）於其他全面收入確 認，並於權益內累計入賬為匯兌儲備 （少數股東權益應佔匯兌儲備（如適 用））。於換算構成本集團於所涉及海 外業務的部分投資淨額的長期貨幣項 目時，在集團實體獨立財務報表的損 益內確認的匯兌差額則重新分類至其 他全面收入，並於權益內累計入賬為 匯兌儲備。

出售海外業務時，匯兌儲備內確認該 業務截至出售日期止的累計匯兌差額 將重新分類至損益，作為出售溢利或 虧損的一部分。

於收購海外業務時產生之有關所收購 可識別資產之商譽及公允價值調整乃 作為該海外業務之資產及負債處理， 並按報告期末之適用匯率進行換算。 產生之匯兌差額乃於匯兌儲備確認。

AMCO UNITED HOLDING LIMITED Annual Report 2011

88

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.13 Employee benefits

Defined contribution retirement plan

Contributions to state-managed retirement benefit schemes/ the Mandatory Provident Fund Scheme are recognised as an expense in profit or loss when the services are rendered by the employees.

4. 主要會計政策概要 （續）

4.13 僱員福利

界定供款退休計劃

向國家管理的退休福利計劃╱強制性 公積金計劃之供款乃當僱員提供服務 時於損益內確認為開支。

4.14 Share-based payments

The fair value of services received determined by reference to the fair value of share options granted at the grant date is expensed on a straight-line basis over the vesting period/recognised as an expense in full at the grant date when the share options granted vest immediately, with a corresponding increase in equity (capital reserve).

4.14 以股份為基礎之付款

所接受的服務的公允價值乃參考於授 出日期授出的購股權的公允價值釐 定，按直線法於歸屬期間支銷╱於已 授出購股權即時歸屬時於授出日期悉 數確認為開支，並在權益（股本儲備） 作出相應增加。

At the end of the reporting period, the Group revises its estimates of the number of options that are expected to ultimately vest. The impact of the revision of the estimates during the vesting period, if any, is recognised in profit or loss such that the cumulative expense reflects the revised estimates, with a corresponding adjustment to capital reserve.

本集團於報告期末修訂對預期最終將 歸屬的購股權數目的估計。歸屬期內 修訂估計的影響（如有）於損益確認以 便累積開支反映所修訂的估計，並對 股本儲備作出相應調整。

At the time when the share options are exercised, the amount previously recognised in capital reserve will be transferred to share premium. When the share options are forfeited after the vesting date or are still not exercised at the expiry date, the amount previously recognised in capital reserve will be transferred to accumulated losses.

於購股權獲行使時，早前在股本儲備 確認的金額將轉撥至股份溢價。倘購 股權於歸屬日期後被沒收或於屆滿日 期仍未行使，則早前在股本儲備確認 的金額將轉撥至累計虧損。

雋泰控股有限公司 2011 年報

89

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.15 Impairment of other assets

At the end of each reporting period, the Group reviews the carrying amounts of the following assets to determine whether there is any indication that those assets have suffered an impairment loss or an impairment loss previously recognised no longer exists or may have decreased:

• property, plant and equipment;

• investments in subsidiaries; and

• intangible assets other than goodwill

If the recoverable amount (i.e. the greater of the fair value less costs to sell and value in use) of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised as an expense immediately.

Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, to the extent that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.

4. 主要會計政策概要 （續）

4.15 其他資產減值

於各報告期末時，本集團檢討以下資 產之賬面值，以釐定該等資產是否出 現蒙受減值虧損或者先前確認之減值 虧損已不存在或者已出現減少之跡 象：

• － 物業、廠房及設備；

• － 於附屬公司之投資；及

• － 無形資產（商譽除外）

倘資產之可回收金額（即公允價值減 銷售成本與使用價值兩者較高者）估 計低於其賬面價值，則有關資產之賬 面值將減至其可收回金額。減值虧損 即時確認為開支。

倘其後撥回減值虧損，則資產之賬面 值將增至經修訂估計之可收回金額， 惟增加後之賬面值不會超過假設該資 產於過往年度並無確認減值虧損時釐 定之賬面值。減值虧損撥回會即時確 認為收入。

AMCO UNITED HOLDING LIMITED 90 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.16 Borrowing costs

Borrowing costs attributable directly to the acquisition, construction or production of qualifying assets which require a substantial period of time to be ready for their intended use or sale, are capitalised as part of the cost of those assets. Income earned on temporary investments of specific borrowings pending their expenditure on those assets is deducted from borrowing costs capitalised. All other borrowing costs are recognised in profit or loss in the period in which they are incurred.

4. 主要會計政策概要 （續）

4.16 借貸成本

收購、建造或生產合資格資產（須耗 用較長時間方可作擬定用途或銷售之 資產）直接產生之借貸成本均撥充資 本，作為該等資產成本之一部分。將有 待用於該等資產之特定借貸作短期投 資所賺取之收入，會於資本化借貸成 本中扣除。所有其他借貸成本乃於產 生期間之損益確認。

4.17 Provisions and contingent liabilities

Provisions are recognised for liabilities of uncertain timing or amount when the Group has a legal or constructive obligation arising as a result of a past event, which will probably result in an outflow of economic benefits that can be reasonably estimated.

4.17 撥備及或然負債

當本集團因過往事件須負上法律或推 定責任而可能導致流出經濟利益，且 該經濟利益能夠合理估計時，會就未 能確定時間或金額的負債確認撥備。

Where it is not probable that an outflow of economic benefits will be required, or the amount cannot be estimated reliably, the obligation is disclosed as a contingent liability, unless the probability of outflow of economic benefits is remote. Possible obligations, the existence of which will only be confirmed by the occurrence or non-occurrence of one or more future events, are also disclosed as contingent liabilities unless the probability of outflow of economic benefits is remote.

倘經濟利益流出的可能情況較低，或 無法對有關數額作可靠估計，則披露 該責任為或然負債，但經濟利益外流 的機會極微者除外。須視乎一宗或多 宗日後事件是否發生方可確認的可能 責任亦會被披露為或然負債，但經濟 利益外流的機會極微者除外。

雋泰控股有限公司 2011 年報

91

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.18 Related parties

• (a) A person or a close member of that person’s family is related to the Group if that person:

• (i) has control or joint control over the Group;

• (ii) has significant influence over the Group; or

• (iii) is a member of key management personnel of the Group or the Company’s parent.

• (b) An entity is related to the Group if any of the following conditions apply:

• (i) The entity and the Group are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others).

• (ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member).

• (iii) Both entities are joint ventures of the same third party.

• (iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity.

4. 主要會計政策概要 （續）

4.18 關連人士

• (a) 倘適用下列情況，該名人士或該 名人士的近親家屬成員便被視為 與本集團有關連：

• (i) 對本集團有控制權或共同控 制權；

• (ii) 對本集團有重大影響力；或

• (iii) 為本集團或本公司母公司主 要管理人員。

• (b) 倘適用任何下列情況，該實體便 被視為與本集團有關連：

• (i) 該實體及本集團屬同一集團 的成員（即各母公司、附屬 公司及同系附屬公司互相關 連）。

• (ii) 一個實體為另一實體的聯繫 人或合營企業（或為某一集 團的成員的聯繫人或合營企 業，而該另一實體為此集團 的成員）。

• (iii) 兩個實體皆為相同第三方的 合營企業。

• (iv) 一個實體為第三實體的合營 企業及另一實體為第三實體 的聯繫人。

AMCO UNITED HOLDING LIMITED Annual Report 2011

92

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.18 Related parties (continued)

• (b) (continued)

• 主要會計政策概要 （續）

4.18 關連人士 （續）

• (b) （續）

• (v) The entity is a post-employment benefit plan for the benefit of the employees of the Group or an entity related to the Group.

• (v) 該實體為本集團或與本集團 有關連的實體的僱員福利而 設的離職後福利計劃。

• (vi) The entity is controlled or jointly controlled by a person identified in (a).

• (vi) 該實體受(a)項所識別的人 士控制或共同控制。

• (vii) A person identified in (a)(i) has significant influence over the entity or is a member of key management personnel of the entity (or of a parent of the entity).

• (vii) 於(a)(i)項所識別人士對實體 有重大影響，或是實體（或 實體的母公司）高級管理人 員。

Close members of the family of a person are those family members who may be expected to influence, or be influenced by, that person in their dealings with the entity and include:

某一人士的近親家屬成員指預期 可影響該人士與實體進行買賣或 於買賣時受該人士影響的有關家 屬成員並包括：

• (i) has control or joint control over the Group;

• (i) 對本集團擁有控制權或共同 控制權；

• (ii) has significant influence over the Group; or

• (ii) 對本集團擁有重大影響力； 或

• (iii) is a member of key management personnel of the Group or the Company’s parent.

• (iii) 為本集團或本公司母公司之 主要管理人員成員。

雋泰控股有限公司 2011 年報

93

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

4. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)

4.19 Segment reporting

Operating segments, and the amounts of each segment item reported in the financial statements, are identified from the financial information provided regularly to the chief operating decision-maker i.e. the most senior executive management for the purposes of allocating resources to, and assessing the performance of, the Group’s various lines of business and geographical locations.

Individually material operating segments are not aggregated for financial reporting purposes unless the segments have similar economic characteristics and are similar in respect of the nature of products and services, the nature of production processes, the type or class of customers, the methods used to distribute the products or provide the services, and the nature of the regulatory environment. Operating segments which are not individually material may be aggregated if they share a majority of these criteria.

4.20 Discontinued operations

A discontinued operation is a clearly distinguishable component of the Group’s business that has been disposed of or is classified as held for sale, which represents a separate major line of business or geographical area of operations of the Group.

Classification as a discontinued operation occurs upon disposal. It also occurs when the operation is abandoned.

Where an operation is classified as discontinued, a single amount is presented on the face of profit and loss account, which comprises the post-tax profit or loss for the discontinued operation.

4. 主要會計政策概要 （續）

4.19 分類報告

經營分類及財務報表所呈報各分類項 目的金額，乃從為向本集團各項業務 及地理位置分配資源及評估其表現而 定期向主要營運決策者（如最高行政 管理層）提供的財務資料中識別。

個別重大經營分類不會合計以供財務 報告之用，惟倘該等分類的產品及服 務性質、生產工序性質、客戶種類或 類別、分銷產品或提供服務的方法以 及監管環境的性質等經濟特性均屬類 似，則作別論。個別不重大經營分類 倘符合以上大部分條件，則可予以合 計。

4.20 已終止經營業務

已終止業務為已出售或列為持作出售 而可清晰區分的本集團業務組成部 分，即本集團之獨立主要業務或經營 地區。

業務於出售後分類為已終止經營業 務。業務於被放棄時亦分類為已終止 經營業務。

當業務被分類為已終止經營時，將於 損益賬內以單一數額呈列，包括已終 止經營業務之除稅後溢利或虧損。

AMCO UNITED HOLDING LIMITED Annual Report 2011

94

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

5. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

5. 主要會計判斷及估計不確定因 素之主要來源

In the application of the Group’s accounting policies which are described in note 4, the directors of the Company are required to make estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

於採用本集團之會計政策（如附註4所述） 時，本公司董事須就尚無法從其他來源得知 之資產及負債之賬面值作出估計及假設。 該等估計與相關假設乃基於過往經驗和其 他被認為相關之各種因素作出。實際結果 或與該等估計不盡相同。

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

估計及相關假設按持續基準進行審核。會 計估計之修訂乃於修訂估計期間內確認(倘 修訂僅影響該期間），或於修訂期間及日後 期間確認（倘修訂影響現時及日後期間）。

The followings are the key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.

以下為有關未來之主要假設及於報告期末 估計不確定因素之其他主要來源，該等假 設及估計均存有重大風險可能導致下一個 財政年度之資產及負債賬面值須作出重大 調整。

Assessment of impairment of property, plant and equipment and intangible assets

The Group assesses impairment at each reporting date by evaluating conditions specific to the Group that may lead to impairment of assets. When an impairment trigger exists, the recoverable amount of the asset is determined. Value-in-use calculations performed in assessing recoverable amounts incorporate a number of key estimates and assumptions about future event, which are subject to uncertainty and might materially differ from the actual results. In making these key estimates and judgements, the directors take into consideration assumptions that are mainly based on the market condition existing at the reporting dates and appropriate market and discount rates. These estimates are regularly compared to actual market data and actual transactions entered in to by the Group.

物業、廠房及設備以及無形資產 之減值評估

本集團於各報告日透過評估本集團可能出 現資產減值之特定情況評估減值。倘存在 減值跡象，則會釐定資產之可收回金額。評 估可收回金額時採用使用值計算方法納入 多項有關未來事件之主要估計及假設，有 關未來事件涉及不明朗因素，並可能與實 際結果極為不同。作出此等主要估計及判 斷時，董事會考慮主要基於報告日之現行 市況及適當市場及貼現率之假設。本集團 會定期比較此等估計與實際市場數據及本 集團訂立之實際交易。

雋泰控股有限公司

95

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY (continued)

Estimated useful lives of intangible assets and property, plant and equipment

The management of the Group determines the estimated useful lives and consequently the related amortisation/depreciation charges for its intangible assets and property, plant and equipment. These estimates are based on the historical experience of the actual useful lives of intangible assets and property, plant and equipment. Management will increase the amortisation/depreciation charges when useful lives are less than previously estimated lives, it will write off or write down technically obsolete or non-strategic assets that have been abandoned or sold. Actual economic lives may differ from estimated useful lives. Periodic review may result in a change in useful lives and therefore the amortisation/depreciation expenses in future years.

Impairment of trade receivables

The policy for impairment of trade and other receivables of the Group is based on the evaluation of collectability and ageing analysis of the trade and other receivables and on management’s estimation. A considerable amount of estimation is required in assessing the ultimate realisation of these trade and other receivables, including the current creditworthiness and the past collection history of each customer. If the financial conditions of customers of the Group were to deteriorate, resulting in impairment of their ability to make payments, additional impairment may be required.

1. 主要會計判斷及估計不確定因 素之主要來源 （續）

無形資產以及物業、廠房及設備 之估計可使用年期

本集團管理層釐定無形資產以及物業、廠 房及設備之估計可使用年期以及隨後相關 攤銷╱折舊開支。該等估計乃根據無形資 產以及物業、廠房及設備之實際可使用年 期的過往經驗而作出。倘可使用年期較先 前所估計為短，則管理層將會提高攤銷╱ 折舊開支，並會將已報廢或出售的技術上 過時或非策略資產撇銷或撇減。實際經濟 年期可能與所估計可使用年期不同。定期 檢討可導致估計可使用年期出現變動，繼 而引致對未來年度攤銷╱折舊開支出現變 動。

貿易應收款項減值

本集團貿易及其他應收款項之減值政策乃 以評估貿易及其他應收款項之可收回性及 賬齡分析及管理層之估計為基準。評估該 等貿易及其他應收款項之最終變現需要一 定程度之估計，包括各客戶之目前信譽及 過往收回款項記錄。倘本集團客戶之財務 狀況惡化，導致其支付能力出現減值，則可 能須作出額外減值。

AMCO UNITED HOLDING LIMITED 96 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY (continued)

Impairment of inventories

1. 主要會計判斷及估計不確定因 素之主要來源 （續）

存貨減值

The management of the Group reviews the inventory ageing analysis at the end of each reporting period, and identifies the slow-moving inventory items that are no longer suitable for use in production. The management estimates the net realisable value for such inventories based primarily on the latest invoice prices and current market conditions. In addition, the Group carries out an inventory review on a product-by-product basis at the end of each reporting period and makes allowance for obsolete items.

本集團管理層於各報告期末檢討存貨賬齡 分析，並識別不再適合用以生產之滯銷存 貨項目。管理層主要根據最近之發票價格 及現時市況估計有關存貨之可變現淨值。 此外，本集團於各報告期末按每件基準檢 討存貨並就陳舊項目作出準備。

Fair value of convertible notes

可換股票據之公允價值

The directors of the Company use their judgment in selecting an appropriate valuation technique to determine fair value of convertible notes which are not quoted in an active market. Valuation techniques commonly used by market practitioners are applied. The fair value of the convertible notes is estimated by an independent professional valuer. The independent valuations which are based on various inputs and estimates with reference to quoted market rates and adjusted for specific features of the instrument. If the inputs and estimates applied in the model are different, the carrying amounts of these derivative financial instruments will change.

本公司董事自行判斷選擇合適估值技術以 釐定在活躍市場並無報價之可換股票據之 公允價值。所採用之估值技術由市場從業 者普遍採用。可換股票據之公允價值乃由 獨立專業估值師進行估計。獨立估值乃基 於參考已報市場比率及就工具特性進行調 整之多項輸入值及估計。倘模型中採用之 輸入值及估計不同，則該等衍生金融工具 之賬面值會產生變動。

雋泰控股有限公司 97 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY (continued)

Impairment of goodwill

The Group tests annually whether goodwill has suffered any impairment in accordance with the accounting policy stated in note 4.3. The recoverable amounts of cash-generating units have been determined based on value-in-use calculations. These calculations require the use of estimates about future cash flows and discount rates. In the process of estimating expected future cash flows management makes assumptions about future revenues and profits. These assumptions relate to future events and circumstances, the actual results may vary and may cause a material adjustment to the carrying amount of goodwill within the next financial year. Determining the appropriate discount rate involves estimating the appropriate adjustment for market risk and for asset specific risk factors.

6. SEGMENT REPORTING

The Group determines its operating segments based on the reports reviewed by the chief operating decision-maker that are used to make strategic decisions.

The Group has six reportable segments (2010: four segments). The segments are managed separately as each business offers different products and services and requires different business strategies. The following summary describes the operations in each of the Group’s reportable segments:

• (1) Manufacture and sale of medical devices products;

• (2) Manufacture and sale of plastic moulding products;

• 主要會計判斷及估計不確定因 素之主要來源 （續）

商譽減值

本集團每年根據附註4.3所載之會計政策測 試商譽是否遭受任何減值。現金產生單位 之可收回金額已根據使用價值計算方式釐 定。該等計算須使用有關未來現金流量及 折現率之估計。於估計預期未來現金流量 之過程中，管理層作出有關未來收入及溢 利之假設。該等假設與未來事件及情況有 關，實際結果可能會有所不同並可能會導 致於下個財政年度內對商譽之賬面值作出 重大調整。釐定適當折現率涉及估計市場 風險及資產特定風險因素之適當調整。

6. 分類報告

本集團按主要經營決策者所審閱並賴以作 出決策之報告釐定其經營分類。

本集團擁有六個可報告分類（二零一零年： 四個分類）。由於各業務提供不同產品及服 務，所需之業務策略亦不盡相同，因此各分 類之管理工作乃獨立進行。以下為本集團 各可報告分類業務之概要：

• (1) 製造及銷售醫療設備產品；

• (2) 製造及銷售塑膠模具產品；

AMCO UNITED HOLDING LIMITED 98 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

6. SEGMENT REPORTING (continued)

6. 分類報告 （續）

• (3) Manufacture and sale of data media products;

• (3) 製造及銷售數據媒體產品；

• (4) Distribution of data media products;

• (4) 分銷數據媒體產品；

• (5) Remanufacture and sale of computer printing and imaging products; and

• (5) 環保再造及銷售電腦打印及影像產 品；及

• (6) Trading and mining of mineral resources.

• (6) 買賣及開採礦產資源。

Inter-segment transactions are priced with reference to prices charged to external parties for similar order. Central revenue and expenses are not allocated to the operating segments as they are not included in the measure of the segments’ profit that is used by the chief operating decision-maker for assessment of segment performance.

分類間交易之價格乃參考就類似訂單向外 部人士收取之價格釐定。由於中央收益及 開支並未計入主要經營決策者評估分類表 現時使用之分類溢利內，故並無分配至各 經營分類。

As mentioned in Note 1, the segment of remanufacture and sale of computer printing and imaging products and trading and mining of mineral resources were considered discontinued operations of the Group during the year.

誠如附註1所述，環保再造及銷售電腦打印 及影像產品，以及買賣及開採礦產資源分 類於年內被視為本集團已終止經營業務。

雋泰控股有限公司 2011 年報

99

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

6. SEGMENT REPORTING (continued)

(a) Business Segments

For the year ended 31 December 2011

6. 分類報告 （續）

(a) 業務分類

截至二零一一年十二月三十一日止 年度

		Continuing operations	Continuing operations	Continuing operations		Dis	continued operations	continued operations	Unallocated HK$’000 未分配 千港元	Total HK$’000 總計 千港元
	Manufacture and sale of medical devices products HK$’000	Manufacture and sale of plastic moulding products HK$’000	Manufacture and sale of data media products HK$’000 持續經營業務	Distribution of data media products HK$’000	Sub-total HK$’000	Re- manufacture and sale of computer printing and imaging products HK$’000	Trading and mining of mineral resources Sub-total HK$’000 HK$’000 已終止經營業務
	製造及 銷售醫療 設備產品 千港元	製造及 銷售塑膠 模具產品 千港元	製造及 銷售數據 媒體產品 千港元	分銷數據 媒體產品 千港元	小計 千港元	環保再造及 銷售電腦 打印及影像 產品 千港元	買賣及開採 礦產資源 千港元	小計 千港元
Revenue from external customers 來自外部客戶收入 Reportable segment revenue 可報告分類收入 Reportable segment profit/(loss) 可報告分類溢利╱（虧損） Interest income 利息收入 Depreciation and amortisation 折舊及攤銷 Gain on disposal of property, plant and equipment 出售物業、廠房及設備收益 Inventories written off 存貨撤銷 Impairment losses on 以下各項之減值虧損 – inventories －存貨 – property, plant and equipment －物業、廠房及設備 – intangible assets －無形資產 – refundable deposit paid for acquisition of mining rights －收購採礦權已付可退回按金 – trade and other receivables －貿易及其他應收款項 Reportable segment assets 可報告分類資產 Addition to specified non-current assets (Note) 添置指定非流動資產（附註） Reportable segment liabilities 可報告分類負債	7,643	35,549	62,368	12,001	117,561	8,394	–	8,394	N/A不適用	125,955
	7,643	35,549	62,368	12,001	117,561	8,394	–	8,394	N/A不適用	125,955
	1,435	6,324	14,302	278	22,339	(57,763) (15,746) (73,509) N/A不適用				(51,170)
	–	(5) (2) (2) (9) (1) – (1) (137) (147)
	372	583 191 7 1,153 6,452 – 6,452 1,544 9,149
	(57) – – – (57) (124) – (124) – (181)
	– – – – – 7,239 – 7,239 – 7,239
	– – – – – 12,371 – 12,371 – 12,371
	– – – – – 16,714 – 16,714 227 16,941
	– – – – – 6,319 – 6,319 – 6,319
	– – – – – – 11,700 11,700 – 11,700
	– – – – – 482 – 482 – 482
	79,278 45,592 11,372 3,749 139,991 – 1,321 1,321 61,478 202,790
	67,362 146 81 5 67,594 – – – – 67,594
	3,533 20,983 9,702 3,228 37,446 – 5,575 5,575 78,635 121,656

AMCO UNITED HOLDING LIMITED Annual Report 2011

100

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

6. SEGMENT REPORTING (continued)

(a) Business Segments (continued)

For the year ended 31 December 2010 (Re-presented)

6. 分類報告 （續）

(a) 業務分類 （續）

截至二零一零年十二月三十一日止年 度（經重列）

	Continuing operations	Discontinued operations Re- manufacture and sale of computer printing and imaging products Trading and mining of mineral resources Inter- segment elimination Sub-total Unallocated Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 已終止經營業務 環保再造及 銷售 電腦打印及 影像產品 買賣及開採 礦產資源 分類間 抵銷 小計 未分配 總計 千港元 千港元 千港元 千港元 千港元 千港元
	Manufacture and sale of data media products Distribution of data media products Inter- segment elimination Sub-Total HK$’000 HK$’000 HK$’000 HK$’000 持續經營業務
	製造及 銷售數據 媒體產品 分銷數據 媒體產品 分類間 抵銷 小計 千港元 千港元 千港元 千港元
Revenue from external customers 來自外部客戶收入 Inter-segment revenue 分類間收入 Reportable segment revenue 可報告分類收入 Reportable segment profit/(loss) 可報告分類溢利╱（虧損） Interest income 利息收入 Depreciation and amortisation 折舊及攤銷 Loss/(gain) on disposal of property, plant and equipment 出售物業、廠房及設備虧損╱ （收益） Inventories written off 存貨撤銷 Impairment losses on 以下各項之減值虧損 – inventories －存貨 – property, plant and equipment －物業、廠房及設備 – intangible assets －無形資產 – refundable deposit paid for acquisition of mining rights －收購採礦權已付可退回按金 – trade and other receivables －貿易及其他應收款項 – trade and other receivables written off －貿易及其他應收款項撇銷 Reportable segment assets 可報告分類資產 Addition to specified non-current assets (Note) 添置指定非流動資產（附註） Reportable segment liabilities 可報告分類負債	67,880 12,303 – 80,183 468 – (468) –	73,739 16,003 – 89,742 N/A不適用 169,925 8,855 – (8,855) – N/A不適用 –
	68,348 12,303 (468) 80,183	82,594 16,003 (8,855) 89,742 N/A不適用 169,925
	1,941 (611) – 1,330 (197,257) (32,699) – (229,956) N/A不適用 (228,626) (1) (3) (4) (1) (80) (81) (16) (101) 267 10 277 26,085 645 26,730 49 27,056 1,166 – 1,166 (312) – (312) (587) 267 – – – 32,862 – 32,862 – 32,862 8,157 1,987 10,144 23,484 – 23,484 – 33,628 – – – 26,008 – 26,008 185 26,193 – – – 30,471 – 30,471 – 30,471 – – – – 15,600 15,600 – 15,600 – – – 6,006 – 6,006 4,003 10,009 – – – 8,656 – 8,656 – 8,656 17,243 2,688 19,931 57,078 25,863 82,941 38,684 141,556 567 – 567 8,570 2,390 10,960 – 11,527 13,790 2,825 16,615 23,729 1,681 25,410 231,689 273,714

Note: Including the Group’s property, plant and equipment and 附註： 包括本集團之物業、廠房及設備 goodwill. 以及商譽。

雋泰控股有限公司 2011 年報

101

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. SEGMENT REPORTING (continued)

2. (b) Reconciliation of reportable segment revenues, profit or loss, assets and liabilities

6. 分類報告 （續）

• (b) 可報告分類收益、損益、資產 及負債之對賬

	2011 HK$’000 二零一一年 千港元	2010 HK$’000 (Re-presented) 二零一零年 千港元 （經重列）
Revenue 收益 Reportable segment revenue 可報告分類收益 Profit/(loss) before income tax expense and discontinued operations 除所得稅開支前及已終止經營業務 之溢利╱（虧損） Reportable segment loss 可報告分類虧損 Segment loss from discontinued operations 已終止經營業務之分類虧損 Change in fair value of derivative and embedded derivative components of a convertible bond 衍生工具及可換股債券之嵌入 式衍生部份之公允價值變動 Gain on change in fair value of a convertible note 可換股票據公允價值 變動收益 Gain on extinguishment of financial liabilities by issue of ordinary shares 透過發行普通股抵銷財務 負債之收益 Share-based payment expenses 以股份為基礎之付款開支 Finance costs 財務費用 Unallocated corporate income 未分配企業收入 Unallocated corporate expenses 未分配企業開支 Consolidated profit/(loss) before income tax expense from continuing operations 來自持續經營業務之除所得稅 開支前綜合溢利╱（虧損） Assets 資產 Segment assets of continuing operations 持續經營業務之分類資產 Segment assets of discontinued operations 已終止經營業務之分類資產 Unallocated corporate assets 未分配企業資產 Consolidated total assets 綜合總資產 Liabilities 負債 Segment liabilities of continuing operations 持續經營業務之分類負債 Segment liabilities of discontinued operations 已終止經營業務之分類負債 Unallocated corporate liabilities 未分配企業負債 Consolidated total liabilities 綜合總負債		169,925
	125,955
		(228,626) 229,956 (12,457) – – (21,483) (29,886) 320 (46,407)
	(51,170)
	73,509
	–
	17,978
	32,080
	(2,076)
	(15,095)
	1,684
	(48,710)
		(108,583)
	8,200
		19,931 82,941 38,684
	139,991
	1,321
	61,478
		141,556
	202,790
		16,615 25,410 231,689
	37,446
	5,575
	78,635
		273,714
	121,656

AMCO UNITED HOLDING LIMITED Annual Report 2011

102

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

6. SEGMENT REPORTING (continued)

• (b) Reconciliation of reportable segment revenues, profit or loss, assets and liabilities

6. 分類報告 （續）

• (b) 可報告分類收益、損益、資產 及負債之對賬 （續）

(continued)

The accounting policies of the reportable segment are the same as the Group’s accounting policies described in Note 4.

Segment (loss)/profit represents the (loss)/profit attributable to each segment without allocation of administrative expenses, change in fair value of derivative and embedded derivative components of a convertible bond, gain on extinguishment of financial liabilities by issue of ordinary shares, gain on change in fair value of a convertible note, share-based payment expenses, finance costs, directors’ emoluments, loss on disposal of subsidiaries, (gain)/loss on deregistration of subsidiaries, interest income and income tax expense/ (credit). This is the measure reported to the chief operating decision maker for the purposes of resources allocation and performance assessment.

All assets are allocated to reportable segments other than available-for-sale financial assets, deferred tax assets, tax recoverable, pledged time deposits, and cash and cash equivalents.

All liabilities are allocated to reportable segments other than tax payable, obligation under finance leases, bank and other borrowings, deferred tax liabilities and convertible notes/ bonds.

可報告分類之會計政策與附註4所述 之本集團會計政策一致。

分類（虧損）╱溢利指各分類應佔之 （虧損）╱溢利，而並無獲分配行政開 支、衍生工具及可換股債券之嵌入式 衍生部份之公允價值變動、透過發行 普通股抵銷金融負債之收益、可換股 票據公允價值變動收益、以股份為基 礎之付款開支、財務成本、董事薪酬、 出售附屬公司之虧損、附屬公司撤銷 註冊之（收益）╱虧損、利息收入及所 得稅開支╱（抵免）。此乃向主要營運 決策者報告以進行資源分配及表現評 估之方法。

所有分配予可報告分類之資產並不 包括可供出售財務資產、遞延稅項資 產、可收回稅項、已抵押定期存款及現 金及現金等價物。

所有分配予可報告分類之負債並不 包括應付稅項、融資租約承擔、銀行 及其他借貸、遞延稅項負債及可換股 票據╱債券。

雋泰控股有限公司 2011 年報

103

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

6. SEGMENT REPORTING (continued)

(c) Geographic information

The geographical location of customers is based on the location at which the goods delivered. The geographical location of the non-current assets is based on the physical and operating location of the assets.

6. 分類報告 （續）

(c) 地區資料

客戶之地理位置乃根據交付貨品位置 劃分。非流動資產之地理位置乃根據 資產之實際及經營位置劃分。

The Group’s operations and workforce are mainly located in the PRC (country of domicile), including Hong Kong.

本集團之業務及勞動力主要位於中國 （所在國家，包括香港）。

The following table provides an analysis of the Group’s revenue from external customers.

下表載列本集團來自外部客戶之收益 之分析。

	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）
Asia 亞洲 – PRC including Hong Kong －中國（包括香港） – other regions －其他地區 Europe 歐洲 North and South America 南北美洲 Others 其他						31,585 42,691 32,040 63,470 139
	16,367	14,604	1,135	16,981	17,502
	37,006	29,399	657	13,292	37,663
	33,613	22,370	799	9,670	34,412
	30,575	13,810	5,569	49,660	36,144
	–	–	234	139	234
						169,925
	117,561	80,183	8,394	89,742	125,955

The following table provides an analysis of the Group’s noncurrent assets other than deferred tax assets.

下表載列本集團除遞延稅項資產以外 之非流動資產之分析。

	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）	Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）
Asia 亞洲 – PRC including Hong Kong －中國（包括香港） North and South America 南北美洲						32,209 101
	90,578	2,625	–	29,584	90,578
	–	–	–	101	–
						32,310
	90,578	2,625	–	29,685	90,578

AMCO UNITED HOLDING LIMITED Annual Report 2011

104

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

6. SEGMENT REPORTING (continued)

(c) Geographic information (continued)

Information about major customers

6. 分類報告 （續）

(c) 地區資料 （續）

主要客戶資料

Revenue from customers contributing over 10% of the total sales of the Group for both continuing and discontinued operations in the current year were from the manufacture and sale of data media products segment and are set out below:

於本年度內，本集團持續經營業務及 已終止經營業務之兩個業務銷售總額 中貢獻超過10%之客戶收益均來自製 造及銷售數據媒體產品分類，詳情載 於下文：

	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Customer A 客戶A Customer B 客戶B	39,762	40,406 17,619
	N/A不適用

The percentage of total revenue on major customers is set out 主要客戶佔總收入百分比載列如下： below:

	The Group 本集團 2011 2010 (Re-presented) 二零一一年 二零一零年 （經重列）	The Group 本集團 2011 2010 (Re-presented) 二零一一年 二零一零年 （經重列）
Customer A 客戶A Customer B 客戶B	32%	24% 10%
	N/A不適用

雋泰控股有限公司 2011 年報

105

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

7. TURNOVER

7. 營業額

Revenue represents the net invoiced value of goods sold, net of value-added tax, returns, rebates and trade discounts. Revenue from the Group’s principal activities recognised during the year is as follows:

營業額指已扣增值稅淨額、退款、回扣及貿 易折扣後之已售貨品發票淨值。於本年度內 來自本集團主營業務之已確認收益如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Continuing operations 持續經營業務 – sales of goods －銷售貨品		80,183
	117,561

8. OTHER INCOME/(LOSS)

8. 其他收益╱（虧損）

Analysis of the Group’s other income/(loss) recognised during the year is as follows:

於本年度內已確認之本集團其他收益╱（虧 損）之分析如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Continuing operations 持續經營業務 Exchange gain, net 匯兌收益，淨額 Interest income 利息收入 Gain/(loss) on deregistration of subsidiaries 附屬公司撤銷註冊之 收益╱（虧損） Gain/(loss) on disposal of property, plant and equipment 出售物業、廠房及設備之 收益╱（虧損） Reversal of impairment loss on trade receivables 撥回應收貿易款項之減值虧損 Others 其他		– 20 (1,418) (579) – 302
	1,306
	147
	63
	57
	229
	168
		(1,675)
	1,970

AMCO UNITED HOLDING LIMITED Annual Report 2011

106

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

9. FINANCE COSTS

9. 財務費用

9.財務 FINANCE COSTS	費用	費用
	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Continuing Operations 持續經營業務 Interest on bank and other borrowings wholly repayable within five years 須於五年內悉數償還之銀行及其他 借貸利息 Finance charges on trade receivables discounted with a financial institution 金融機構貼現應收貿易款項之 財務支出 Interest on notes payable 應付票據利息 Finance charges on obligation under finance lease 融資租約承擔之財務費用 Imputed interest expenses on convertible bonds 可換股債券之推算利息開支		381 – 1,554 27 27,924
	194
	267
	–
	29
	14,605
		29,886
	15,095

10. IMPAIRMENT LOSSES AND WRITE OFFS 10. 減值虧損及撇銷

10.減值 IMPAIRMENT LOSSES AND WRITE OFFS	虧損及撇銷	虧損及撇銷
	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Continuing operations 持續經營業務 Impairment losses on 下列各項之減值虧損 – property, plant and equipment (Note 17) －物業、廠房及設備（附註17） – trade and other receivables (Note 22) －貿易及其他應收款項（附註22）		185 4,003
	227
	–
		4,188
	227

雋泰控股有限公司 2011 年報

107

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

11. PROFIT/(LOSS) BEFORE INCOME TAX EXPENSE

11. 扣除所得稅開支前溢利╱（虧 損）

The Group’s profit/(loss) before income tax expense is arrived at after charging:

本集團之扣除所得稅開支前溢利╱（虧損） 已扣除下列各項：

	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	The Group 本集團 2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Continuing operations 持續經營業務 Staff costs (including directors’ emoluments) 員工成本（包括董事酬金） Contribution to defined contribution retirement plan 定額供款退休計劃的供款 Salaries, wages and other benefits 薪金、工資及其他福利 Share-based payment expense (Note 32) 以股份為基礎之付款開支 （附註32） Depreciation of property, plant and equipment 物業、廠房及設備折舊 – Owned －自置 – Held under finance leases －按融資租約持有 Auditor’s remuneration 核數師酬金 Operating lease charges in respect of properties 有關物業之經營租約費用 Cost of inventories recognised as expenses 確認為開支之存貨成本 Impairment loss on inventories (included in cost of sales) 存貨之減值虧損（計入銷售成本）		294 23,372 21,483
	326
	24,278
	2,076
		45,149
	26,680
		184 142 1,200 3,558 63,448 10,144
	2,476
	221
	880
	5,057
	90,709
	–

AMCO UNITED HOLDING LIMITED Annual Report 2011

108

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

12. INCOME TAX EXPENSE/(CREDIT)

12. 所得稅開支╱（抵免）

12.所得稅開支╱（抵免） INCOME TAX EXPENSE/(CREDIT)	12.所得稅開支╱（抵免） INCOME TAX EXPENSE/(CREDIT)	12.所得稅開支╱（抵免） INCOME TAX EXPENSE/(CREDIT)	12.所得稅開支╱（抵免） INCOME TAX EXPENSE/(CREDIT)	12.所得稅開支╱（抵免） INCOME TAX EXPENSE/(CREDIT)	12.所得稅開支╱（抵免） INCOME TAX EXPENSE/(CREDIT)	12.所得稅開支╱（抵免） INCOME TAX EXPENSE/(CREDIT)
The Group 本集團 Continuing operations Discontinued operations Total 2011 2010 2011 2010 2011 2010 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 HK$'000 (Re-presented) (Re-presented) (Re-presented) 持續經營業務 已終止經營業務 合計 二零一一年 二零一零年 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元 千港元 千港元 （經重列） （經重列） （經重列）
Current tax – Hong Kong Profits Tax 即期稅項－香港利得稅 – tax for the year －本年度稅項 – under provision in respect of prior years －過往年度撥備不足 Current tax – PRC Enterprise Income Tax 即期稅項－中國企業 所得稅 – tax for the year －本年度稅項 – under/(over) provision in respect of prior years －過往年度 撥備不足╱ （超額撥備） Deferred tax (Note 28) 遞延稅項（附註28）						– 554
	210	–	–	–	210
	–	554	–	–	–
						554 – (19)
	210	554	–	–	210
	4,100	–	–	–	4,100
	4,100	–	–	(19)	4,100
						(19) (3,251)
	8,200	–	–	(19)	8,200
	–	–	(1,445)	(3,251)	(1,445)
						(2,716)
	8,410	554	(1,445)	(3,270)	6,965

In respect of Hong Kong Profits Tax, income tax expense is provided on the profit for the year based on the assessable profits derived by the Group’s subsidiaries from Hong Kong for the year ended 31 December 2011.

就香港利得稅而言，所得稅開支乃根據本 集團香港附屬公司截至二零一一年十二月 三十一日止年度產生之應課稅溢利就本年 度溢利作出之撥備。

There was no assessable profit derived by the Group’s subsidiaries from Hong Kong for the year ended 31 December 2010. Accordingly, no income tax expense was provided for the year.

由於本集團截至二零一零年十二月三十一 日止年度香港附屬公司並無產生任何應課 稅溢利，故年內概無就所得稅開支作出撥 備。

Hong Kong Profits Tax is calculated at 16.5% of the estimated assessable for the both years.

香港利得稅乃按該兩個年度的估計應課稅 溢利16.5%計算。

雋泰控股有限公司 2011 年報

109

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

12. INCOME TAX EXPENSE/(CREDIT) (continued)

Under the Law of the People’s Republic of China on Enterprise Income Tax (the “EIT Law”) and Implementation Regulation of the EIT Law, the tax rate of the PRC subsidiaries is 25% for both years.

Overseas tax is calculated at the rates applicable in the respective jurisdictions.

In 20 July 2007, Inland Revenue Department of Hong Kong (“IRD”) has initiated tax enquiries and issued protective profits tax demand note relating to the years of assessment 2001/2002 against a subsidiary in the Group. The Group had lodged objections with the IRD and the IRD agreed to hold over the tax claim completely subject to the said subsidiary in question purchasing tax reserve certificates (“TRCs”). TRCs of an aggregate amount of approximately HK$938,000 (2010: HK$938,000) were purchased by the Group on 29 June 2007 and 16 April 2008 and the amount was included in other receivables in the consolidated statement of financial position as at 31 December 2011.

12. 所得稅開支╱（抵免） （續）

根據《中華人民共和國企業所得稅法》 （「企業所得稅法」）及企業所得稅法實施細 則，中國附屬公司於該兩個年度之稅率為 25%。

海外稅項乃按有關司法權區之適用稅率計 算。

於二零零七年七月二十日，香港稅務局 （「稅務局」）就本集團一間附屬公司於二零 零一年╱二零零二年之評稅年度進行初步 稅務查詢及發出保障性利得稅催繳單。本集 團已向稅務局提出反對，而稅務局同意暫緩 繳交所徵之全數稅款，惟上述有關附屬公司 須購買儲稅券（「儲稅券」）。於二零零七年 六月二十九日及二零零八年四月十六日， 本集團已購買總額約為938,000港元（ 二零 一零年：938,000港元）之儲稅券，且有關 金額已計入於二零一一年十二月三十一日 之綜合財務狀況表之其他應收款項。

AMCO UNITED HOLDING LIMITED Annual Report 2011

110

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

12. INCOME TAX EXPENSE/(CREDIT) (continued)

12. 所得稅開支╱（抵免） （續）

The income tax expense/(credit) for the year can be reconciled to the loss before income tax expense per the consolidated statement of comprehensive income as follows:

本年度所得稅開支╱（抵免）與綜合全面收 益表之除所得稅開支前虧損對賬如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Profit/(Loss) before income tax expense 除所得稅開支前溢利╱（虧損） from continuing operations 來自持續經營業務 from discontinued operations 來自已終止經營業務 Tax calculated at the rates applicable to the jurisdictions concerned 按有關司法權區之 適用稅率計算之稅項 Tax effect of expenses not deductible for tax purpose 不可扣稅開支之稅務影響 Tax effect of revenue not taxable for tax purpose 毋須課稅收入之稅務影響 Tax effect of tax losses not recognised 未確認稅項虧損之稅務影響 Tax effect of utilisation of tax losses previously not recognised 動用過往尚未確認之 稅項虧損之稅務影嚮 Tax effect of deductible temporary differences not recognised 未確認可扣減暫時差異之 稅務影響 Under provision in respect of prior years 過往年度之撥備不足 Income tax expense/(credit) 所得稅開支╱（抵免）		(108,583) (278,044)
	8,200
	(82,721)
		(386,627)
	(74,521)
		(70,298) 34,188 (16) 30,749 – 2,126 535
	(11,505)
	30,209
	(13,507)
	1,586
	(1,028)
	(2,890)
	4,100
		(2,716)
	6,965

雋泰控股有限公司 2011 年報

111

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

13. LOSS FOR THE YEAR FROM DISCONTINUED OPERATIONS

13. 來自已終止經營業務之年度虧 損

損 OPERATIONS
	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Remanufacture and sale of computer printing and imaging products (Note a) 環保再造及銷售電腦打印及 影像產品（附註a） Trading and mining of mineral resources (Note b) 買賣及開採礦產資源 （附註b）	(52,058)	(237,582) (37,192)
	(29,218)
		(274,774)
	(81,276)

(a) Remanufacture and sale of computer printing and imaging products

The business of remanufacture and sale of computer printing and imaging products which were carried by Jackin Enterprises Limited (“JEL”) and its subsidiaries were put into liquidation on 8 August 2011. These business segments are presented as part of discontinued operations in accordance with HKFRS 5.

(a) 環保再造及銷售電腦打印及 影像產品

由Jackin Enterprises Limited（「JEL 」） 及其附屬公司經營之環保再造及銷售 電腦打印及影像產品業務已於二零 一一年八月八日進入清盤。該等業務 分類乃根據香港財務報告準則第5號 呈列為已終止經營業務之一部分。

AMCO UNITED HOLDING LIMITED Annual Report 2011

112

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. LOSS FOR THE YEAR FROM DISCONTINUED OPERATIONS (continued)

(a) Remanufacture and sale of computer printing and imaging products (continued)

An analysis of the results and cash flows of this segment included in the consolidated statement of comprehensive income and the statement of cash flows is as follows:

1. 來自已終止經營業務之年度虧 損 （續）

2. (a) 環保再造及銷售電腦打印及 影像產品 （續）

計入綜合全面收益表及現金流量表之 該分類之業績及現金流分析如下：

	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Turnover 營業額 Cost of sales 銷售成本 Gross loss 毛損 Other income 其他收入 Distribution costs 分銷成本 Administrative expenses 行政開支 Reversal of impairment loss on trade receivables 應收貿易款項減值虧損撥回 Impairment losses 減值虧損 Finance costs 財務費用 Loss before income tax credit 除所得稅抵免前虧損 Income tax credit 所得稅抵免 Gain on disposal of subsidiaries (Note 34) 出售附屬公司之收益（附註34） Loss for the year from discontinued operations 已終止經營業務之 年度虧損 Net cash used in operating activities 用於經營業務之現金淨額 Net cash generated from/(used in) investing activities 產生自╱（用於）投資活動之 現金淨額 Net cash used in financing activities 用於融資活動之現金淨額 Net cash outflows 現金流出淨額	8,394	73,739 (187,423)
	(41,462)
		(113,684) 311 (13,105) (42,665) 359 (71,141) (927)
	(33,068)
	1,373
	(1,741)
	(20,675)
	436
	(23,515)
	(335)
		(240,852) 3,270 –
	(77,525)
	1,445
	24,022
		(237,582)
	(52,058)
		(38,186) (8,128) (17,032)
	(20,834)
	233
	(5,314)
		(63,346)
	(25,915)

雋泰控股有限公司 2011 年報

113

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

13. LOSS FOR THE YEAR FROM DISCONTINUED

OPERATIONS (continued)

(a) Remanufacture and sale of computer printing and imaging products (continued)

Loss for the year from the discontinued operations includes the

following:

1. 來自已終止經營業務之年度虧 損 （續）

(a) 環保再造及銷售電腦打印及 影像產品 （續）

已終止經營業務之年度虧損包括以下 各項：

	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Depreciation of property, plant and equipment 物業、廠房及設備折舊 Amortisation of intangible assets 無形資產攤銷 Cost of inventories recognised as expenses 確認為開支之存貨成本 Impairment losses on 下列各項之減值虧損 – property, plant and equipment (Note 17) －物業、廠房及設備（附註17） – intangible assets (Note 18) －無形資產（附註18） – trade and other receivables (Note 22) －貿易及其他應收款項 （附註22） – trade and other receivables written off －貿易及其他應收款項撇銷 – inventories (included in cost of sales) －存貨（計入銷售成本） – inventories written off (included in cost of sales) －存貨撇銷（計入銷售成本）	3,856	15,125 10,960 131,077 26,008 30,471 6,006 8,656 23,484 32,862
	2,596
	21,852
	16,714
	6,319
	482
	–
	12,371
	7,239

The carrying amounts of the assets and liabilities of JEL and its subsidiaries at the date of disposal are set out in note 34 to the financial statements.

JEL及其附屬公司於出售日期之資產及 負債賬面值載於財務報表附註34。

A profit of HK$24,022,000 arose on the disposal of JEL and its subsidiaries, being the proceeds of disposal less the carrying amount of the subsidiary’s net liabilities. No tax charge or credit arose from the disposal.

出售 J E L 及其附屬公司產生溢利 24,022,000港元，即出售事項所得款 項減附屬公司負債淨額之賬面值。出 售事項並無產生稅項支出或抵免。

AMCO UNITED HOLDING LIMITED 114 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. LOSS FOR THE YEAR FROM DISCONTINUED OPERATIONS (continued)

(b) Trading and mining of mineral resources

As mentioned in Note 1, the segment of trading and mining of mineral resources was considered a discontinued operation of the Group during the year and has been presented as part of discontinued operations in accordance with HKFRS 5.

1. 來自已終止經營業務之年度虧 損 （續）

(b) 買賣及開採礦產資源

誠如附註1所述，年內，買賣及開採礦 產資源分類被認為本集團之已終止經 營業務，並根據香港財務報告準則第5 號呈列為已終止經營業務之一部分。

An analysis of the results and cash flows of this segment included in the consolidated statement of comprehensive income and the statement of cash flows is as follows:

計入綜合全面收益表及現金流量表之 該分類之業績及現金流分析如下：

	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Turnover 營業額 Cost of sales 銷售成本 Gross profit 毛利 Distribution costs 分銷成本 Administrative expenses 行政開支 Expenses related to mining project opportunities 與採礦項目機會有關之開支 Expenses related to acquisition of mining rights 與收購採礦權有關之開支 Impairment losses on refundable deposits paid for acquisition of mining rights (Note 23) 有關收購採礦權之可退回 已付按金之減值虧損 （附註23） Loss before income tax expense 除所得稅開支前虧損 Income tax expense 所得稅開支 Loss for the year from discontinued operations 已終止經營業務之 年度虧損 Net cash used in operating activities 經營業務動用之現金淨額 Net cash outflows 現金流出淨額	–	16,003 (15,203)
	–
		800 (29) (4,493) – (17,870) (15,600)
	–
	–
	(13,472)
	(4,046)
	–
	(11,700)
		(37,192) –
	(29,218)
	–
		(37,192)
	(29,218)
		(59,501)
	(1,855)
		(59,501)
	(1,855)

雋泰控股有限公司 115 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. LOSS FOR THE YEAR FROM DISCONTINUED OPERATIONS (continued)

(b) Trading and mining of mineral resources

13. 來自已終止經營業務之年度虧 損 （續）

(b) 買賣及開採礦產資源 （續）

(continued)

Loss for the year from the discontinued operations includes the 已終止經營業務之年度虧損包括以下 following: 各項：

	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）	2011 2010 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 千港元 千港元 （經重列）
Expenses related to mining project opportunities 與採礦項目機會有關之開支 Expenses related to acquisition of mining rights 與收購採礦權有關之開支 Staff cost 員工成本	4,046	– 17,870 4,493
	–
	13,472

For the purpose of presenting discontinued operations, the comparative consolidated statement of comprehensive income, consolidated statement of cash flows and the related notes have been re-presented as if the operations discontinued during the year had been discontinued at the beginning of the comparative period.

就呈列已終止經營業務而言，比較綜 合全面收益表、綜合現金流量表及相 關附註已予以重列，猶如年內終止之 經營業務已於比較期間初予以終止。

AMCO UNITED HOLDING LIMITED Annual Report 2011

116

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

14. EARNINGS/(LOSS) PER SHARE

14. 每股盈利╱（虧損）

The calculation of the basic and diluted loss per share attributable to the owners of the Company is based on the following data:

計算本公司擁有人應佔每股基本及攤薄虧 損乃基於以下數據：

	The Group 本集團 2011 2010 (Re-presented) 二零一一年 二零一零年 （經重列）	The Group 本集團 2011 2010 (Re-presented) 二零一一年 二零一零年 （經重列）
Basic 基本 Profit/(loss) for the year for the purposes of computation of basic earnings/(loss) per share (HK’000) 就計算每股基本盈利╱（虧損） 而言之本年度盈利╱（虧損） （千港元） – from continuing operations －來自持續經營業務 – from discontinued operations －來自已終止經營業務 Number of shares 股份數目 Weighted average number of ordinary shares in issue 已發行普通股之加權平均數目		(108,594) (274,774)
	766
	(81,276)
		(383,368)
	(80,510)
		1,368,722,647
	2,895,435,576

Note:

附註：

The calculation of basic earnings/(loss) per share for the year is based on the consolidated profit/(loss) for the year attributable to owners of the Company and on the weighted average number of ordinary shares in issue during the year.

本年度每股基本盈利╱（虧損）乃根據年內本 公司擁有人應佔本年度綜合盈利╱（虧損）及 已發行普通股加權平均數目計算。

雋泰控股有限公司 117 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

14. EARNINGS/(LOSS) PER SHARE (continued)

14. 每股盈利╱（虧損） （續）

14.每股 EARNINGS/(LOSS) PER SHARE(continued)	盈利╱（虧損）（續）	盈利╱（虧損）（續）
	The Group 本集團 2011 2010 (Re-presented) 二零一一年 二零一零年 （經重列）
Diluted 攤薄 Profit/(Loss) for the year for the purposes of computation of diluted earnings/ (loss) per share (HK’000) 就計算每股攤薄盈利╱（虧損） 而言之本年度盈利╱（虧損） （千港元） – from continuing operations – basic －來自持續經營業務－基本 Adjustment on gain on changes in fair value of convertible notes at year end 年末可換股票據之公允價值 變動收益調整 – from continuing operations – adjusted loss －來自持續經營業務 －經調整虧損 – from discontinued operations －來自已終止經營業務 Number of shares 股份數目 Weighted average number of ordinary shares in issue 已發行普通股之加權平均數目 Adjustment for conversion of convertible notes 調整兌換可換股票據 Weighted average number of ordinary shares for diluted earnings/(loss) per share 就計算每股攤薄盈利╱（虧損） 而言之普通股加權平均數目		(108,594) –
	766
	(6,386)
		(108,594) (274,774)
	(5,620)
	(81,276)
		(383,368)
	(86,896)
		1,368,722,647 –
	2,895,435,576
	800,876,200
		1,368,722,647
	3,696,311,776

Note:

附註：

In calculation of the diluted earnings/(loss) per share, the Company’s outstanding share options were not taken into account as they had an anti-dilutive effect. Therefore, the calculation of diluted earnings/ (loss) per share is based on the profit/(loss) for the year attributable to owners of the Company and after adjustment to reflect the effect of deemed conversion of outstanding convertible notes. Weighted average number of dilutive potential ordinary shares is calculated by adjusting the conversion shares of all convertible notes that would be issuable if the end of the period were the end of the contingency period.

就計算每股攤薄盈利╱（虧損）而言，本公司 並未計入尚未行使之購股權，原因為彼等具 有反攤薄影響。因此，每股攤薄盈利╱（虧損） 乃根據本公司擁有人應佔年度盈利╱（虧損） 並經調整以反映視作兌換尚未行使之可換股 票據之影響後計算。攤薄潛在普通股之加權平 均數目乃透過調整倘期末為或然期間末，則所 有可換股票據可能發行之兌換股份計算。

There was no dilutive effect for the year ended 31 December 2010 since all share options were anti-dilutive.

由於所有購股權均具有反攤薄作用，故截 至二零一零年十二月三十一日止年度並無 攤薄影響。

AMCO UNITED HOLDING LIMITED 118 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

15. DIRECTORS’ EMOLUMENTS

15. 董事薪酬

The emoluments paid or payable to each of the eight (2010: ten) 已付或應付八名（二零一零年：十名）董事 directors were as follows: 各自之酬金如下：

For the year ended 31 December 2011

截至二零一一年十二月三十一日止年度

	Directors’ fees Salaries, allowances and benefits in kind Retirement scheme contributions Total HK$’000 HK$’000 HK$’000 HK$’000 董事袍金 薪金、津貼及 實物利益 退休計劃供款 總計 千港元 千港元 千港元 千港元
Executive directors 執行董事 Yip Wai Lun, Alvin 葉偉倫 Ma Bo Ping (resigned on 23 May 2011) 麻伯平（於二零一一年 五月二十三日辭任） Zhou Yu Sheng (resigned on 23 May 2011) 周豫盛（於二零一一年 五月二十三日辭任） Lam Suk Ling, Shirley (resigned on 31 December 2011) 林淑玲（於二零一一年 十二月三十一日辭任） Lee Cheuk Yin, Dannis (resigned on 31 October 2011) 李卓然（於二零一一年 十月三十一日辭任） Independent non-executive directors 獨立非執行董事 Leung Ka Kui, Johnny 梁家駒 Chan Kam Kwan, Jason 陳錦坤 Lau Man Tak 劉文德 Total 總計
	– 2,817 15 2,832
	– 1,738 – 1,738
	– 5,133 – 5,133
	– 1,575 12 1,587
	– 700 7 707
	267 – – 267
	267 – – 267
	267 – – 267
	801 11,963 34 12,798

雋泰控股有限公司 119 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

15. DIRECTORS’ EMOLUMENTS (continued)

15. 董事薪酬 （續）

For the year ended 31 December 2010

截至二零一零年十二月三十一日止年度

	Directors’ fees Salaries, allowances and benefits in kind Retirement scheme contributions Total HK$’000 HK$’000 HK$’000 HK$’000 董事袍金 薪金、津貼及 實物利益 退休計劃供款 總計 千港元 千港元 千港元 千港元
Executive directors 執行董事 Yip Wai Lun, Alvin 葉偉倫 Ma Bo Ping 麻伯平 Zhou Yu Sheng (appointed on 25 January 2010) 周豫盛（於二零一零年 一月二十五日獲委任） Lam Suk Ling, Shirley (appointed on 8 February 2010) 林淑玲（於二零一零年 二月八日獲委任） Lee Cheuk Yin, Dannis (appointed on 29 October 2010) 李卓然（於二零一零年 十月二十九日獲委任） Ho Yin King, Helena (resigned on 18 October 2010) 何燕琼（於二零一零年 十月十八日辭任） Independent non-executive directors 獨立非執行董事 Leung Ka Kui, Johnny 梁家駒 Chan Kam Kwan, Jason 陳錦坤 Lau Man Tak (appointed on 29 October 2010) 劉文德（於二零一零年 十月二十九日獲委任） Lo Kok Kee (resigned on 21 August 2010) 盧國基（於二零一零年 八月二十一日辭任） Total 總計	– 2,421 13 2,434 – 2,882 – 2,882 – 1,611 – 1,611 – 1,410 10 1,420 – 147 2 149 – 2,629 10 2,639 350 – – 350 350 – – 350 161 – – 161 52 – – 52
	913 11,100 35 12,048

During both years ended 31 December 2011 and 2010, no emoluments were paid by the Group to the directors, as an inducement to join or upon joining the Group as compensation for loss of office.

於截至二零一一年及二零一零年十二月 三十一日止兩個年度內，本集團並無向董 事支付任何酬金，作為促使加入或於加入 本集團時的獎勵或作為離職補償。

AMCO UNITED HOLDING LIMITED 120 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

16. EMPLOYEES’ EMOLUMENTS

16. 僱員酬金

Of the five individuals with the highest emoluments in the 本集團五名最高薪人士中，包括四名本公 Group, four (2010: three) were directors of the Company whose 司董事（二零一零年：三名），該等董事之 emoluments are included in the disclosure in Note 15 above. The 酬金詳情於上文附註15披露。餘下一名人 emoluments of the remaining one individual (2010: two individuals) 士（二零一零年：兩名人士）之酬金載列如 were as follows: 下：

	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Salaries and other emoluments 薪金及其他酬金 Share-based payment expense 以股份為基礎之付款開支 Retirement scheme contributions 退休計劃供款	1,412	1,605 3,528 12
	–
	11
		5,145
	1,423

Their emoluments were within the following bands:

其酬金界乎下列範圍內：

	2011 2010 Number of individuals Number of individuals 二零一一年 二零一零年 人數 人數	2011 2010 Number of individuals Number of individuals 二零一一年 二零一零年 人數 人數
Nil to HK$1,000,000 0港元至1,000,000港元 HK$1,000,001 to HK$1,500,000 1,000,001港元至1,500,000港元 HK$1,500,001 to HK$2,000,000 1,500,001港元至2,000,000港元 HK$2,000,001 to HK$2,500,000 2,000,001港元至2,500,000港元 HK$2,500,001 to HK$3,000,000 2,500,001港元至3,000,000港元	–	– – – 1 1
	1
	–
	–
	–

During both years ended 31 December 2011 and 2010, no emoluments were paid by the Group to the five highest paid individuals, including directors, as an inducement to join or upon joining the Group as compensation for loss of office.

截至二零一一年及二零一零年十二月 三十一日止兩個年度內，本集團並無支付 任何酬金予五名最高薪酬之人士(包括董 事），作為加入或於加入本集團時之獎勵或 作為離職補償。

雋泰控股有限公司 121 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

17. PROPERTY, PLANT AND EQUIPMENT

17. 物業、廠房及設備

	Leasehold buildings at revalued amounts Plant and machinery Furniture, fixtures and office equipment Motor vehicles Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 按重估金額 列賬之租賃樓宇 廠房及機器 傢俬、裝置及 辦公設備 汽車 總計 千港元 千港元 千港元 千港元 千港元
Cost or valuation 成本或估值 At 1 January 2010 於二零一零年一月一日 Exchange adjustment 匯兌調整 Addition at cost 添置（按成本值） Deficit on valuation 估值虧絀 Deregistration of subsidiaries 附屬公司撤銷註冊 Written off 撇銷 Disposals 出售 At 31 December 2010 於二零一零年 十二月三十一日 Comprising: 包括： At cost 按成本 At valuation 按估值 At 1 January 2011 於二零一一年 一月一日 Exchange adjustment 匯兌調整 Addition at cost 添置（按成本值） Acquired through business combinations (Note 35) 透過業務合併收購 （附註35） Deficit on valuation 估值虧絀 Disposals 出售 Deregistration of subsidiaries 附屬公司撤銷註冊 Written off 撇銷 At 31 December 2011 於二零一一年 十二月三十一日 Comprising: 包括： At cost 按成本 At valuation 按估值	18,488 273,641 74,769 4,978 371,876 – 356 147 4 507 – 8,297 2,072 1,158 11,527 (6) – – – (6) – (762) (679) – (1,441) – (80,200) (19,249) (1,574) (101,023) (18,050) – (20,456) (2,173) (40,679)
	432 201,332 36,604 2,393 240,761
	– 201,332 36,604 2,393 240,329 432 – – – 432
	432 201,332 36,604 2,393 240,761
	432 201,332 36,604 2,393 240,761 – 1,094 30 5 1,129 – 129 22 81 232 – 18,901 2,172 848 21,921 (238) – – – (238) – (91,445) (29,148) (469) (121,062) – (3,510) – – (3,510) – (602) (63) – (665)
	194 125,899 9,617 2,858 138,568
	– 125,899 9,617 2,858 138,374 194 – – – 194
	194 125,899 9,617 2,858 138,568

AMCO UNITED HOLDING LIMITED Annual Report 2011

122

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

17. PROPERTY, PLANT AND EQUIPMENT (continued) 17. 物業、廠房及設備 （續）

	Leasehold buildings at revalued amounts Plant and machinery Furniture, fixtures and office equipment Motor vehicles Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 按重估金額 列賬之租賃樓宇 廠房及機器 傢俬、裝置及 辦公設備 汽車 總計 千港元 千港元 千港元 千港元 千港元
Accumulated depreciation and impairment 累計折舊及減值 At 1 January 2010 於二零一零年一月一日 Exchange adjustment 匯兌調整 Depreciation 折舊 Impairment loss 減值虧損 Elimination on revaluation 於重估時對銷 Elimination on disposals 於出售時對銷 Deregistration of subsidiaries 附屬公司撤銷註冊 Written off 撇銷 At 31 December 2010 and 1 January 2011 於二零一零年 十二月三十一日及 二零一一年一月一日 Exchange adjustment 匯兌調整 Depreciation 折舊 Impairment loss 減值虧損 Elimination on revaluation 於重估時對銷 Elimination on disposals 於出售時對銷 Deregistration of subsidiaries 附屬公司撤銷註冊 Written off 撇銷 At 31 December 2011 於二零一一年 十二月三十一日 Net book value 賬面淨值 At 31 December 2011 於二零一一年 十二月三十一日 At 31 December 2010 於二零一零年 十二月三十一日	– 242,093 53,507 4,550 300,150 – 143 98 1 242 172 10,234 5,210 480 16,096 – 19,606 6,402 – 26,008 (10) – – – (10) (162) – (20,456) (2,042) (22,660) – (762) (675) – (1,437) – (80,200) (19,249) (1,574) (101,023)
	– 191,114 24,837 1,415 217,366 – 10 172 84 266 11 3,808 2,284 450 6,553 – 12,816 4,125 – 16,941 (11) – – – (11) – (95,833) (24,136) (450) (120,419) – (3,510) – – (3,510) – (602) (63) – (665)
	– 107,803 7,219 1,499 116,521
	194 18,096 2,398 1,359 22,047 432 10,218 11,767 978 23,395

雋泰控股有限公司 123 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

17. PROPERTY, PLANT AND EQUIPMENT (continued)

17. 物業、廠房及設備 （續）

The carrying value of properties shown above comprises:

上述物業之賬面值包括：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Outside Hong Kong 香港以外地區 – short-term leases －短期租約 Representing: 包括： Leasehold land and buildings held for own used carried at fair value 按公允價值列賬之持作自用 租賃土地及樓宇		432
	194
		432
	194

The net carrying value of plant and equipment and motor vehicle held under finance leases of the Group was approximately HK$968,000 (2010: HK$4,158,000). These assets are pledged to secure the Group’s obligations under finance leases.

本集團根據融資租約持有之廠房及設備以 及汽車之賬面淨值為約968,000港元（二零 一零年：4,158,000港元）。該等資產已抵押 以擔保本集團之融資租約承擔。

In 2010, the Group acquired a motor vehicle of approximately HK$567,000 through finance lease.

於二零一零年，本集團透過融資租約收購 汽車約567,000港元。

AMCO UNITED HOLDING LIMITED Annual Report 2011

124

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

18. INTANGIBLE ASSETS

18. 無形資產

INTANGIBLE ASSETS	18.無形資產
	Development costs Technical know-how Distribution channels Total HK$’000 HK$’000 HK$’000 HK$’000 開發成本 技術知識 分銷渠道 總計 千港元 千港元 千港元 千港元
Cost 成本 At 1 January 2010, 31 December 2010 and 1 January 2011 於二零一零年一月一日、 二零一零年 十二月三十一日及 二零一一年一月一日 Disposal of subsidiaries 出售附屬公司 At 31 December 2011 於二零一一年 十二月三十一日 Amortisation and impairment 攤銷及減值 At 1 January 2010 於二零一零年一月一日 Amortisation 攤銷 Impairment loss (Note 13(a)) 減值虧損（附註13(a)） At 31 December 2010 and 1 January 2011 於二零一零年 十二月三十一日及 二零一一年一月一日 Amortisation 攤銷 Impairment loss (Note 13(a)) 減值虧損（附註13(a)） Disposal of subsidiaries 出售附屬公司 At 31 December 2011 於二零一一年 十二月三十一日 Net book value 賬面淨值 At 31 December 2011 於二零一一年 十二月三十一日 At 31 December 2010 於二零一零年 十二月三十一日	62,758 40,340 15,800 118,898 (49,293) – – (49,293)
	13,465 40,340 15,800 69,605
	37,106 17,550 13,896 68,552 5,892 3,488 1,580 10,960 11,169 19,302 – 30,471
	54,167 40,340 15,476 109,983 2,272 – 324 2,596 6,319 – – 6,319 (49,293) – – (49,293)
	13,465 40,340 15,800 69,605
	– – – –
	8,591 – 324 8,915

Development costs are internally generated. All of the Group’s technical know-how and distribution channels were acquired from third parties.

開發成本乃自內部產生。本集團所有技術 知識及分銷渠道乃自第三方收購。

雋泰控股有限公司 2011 年報

125

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

18. INTANGIBLE ASSETS (continued)

18. 無形資產 （續）

Development cost was related to the cost incurred in the segment of remanufacture and sale of computer printing and imaging products and it was internally generated. As 31 December 2010, the carrying value of development cost was determined by a value in use calculation which was based on the estimated future cash flows discounted at a discount rate. During the year, and as further explained in note 1 and 13(a), the remanufacture and sale of computer printing and imaging products business operation ceased and was put into liquidation on 8 August 2011. The remaining unamortised balance of development costs was accordingly fully impaired in the current year.

開發成本乃與環保再造及銷售電腦打印及 影像產品分部產生之成本相關並為內部產 生。於二零一零年十二月三十一日，開發 成本之賬面值乃透過使用價值計算方式釐 定，而使用價值乃根據按折現率折現之估 計未來現金流量計算。年內及誠如附註1及 13(a)所進一步闡釋，環保再造及銷售電腦 打印及影像產品業務營運已終止並於二零 一一年八月八日進行清盤，餘下未攤銷之開 發成本結餘因此已於本年度內全數減值。

19. GOODWILL

19. 商譽

19.商譽 GOODWILL
	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Cost 成本 Less: Impairment loss 減：減值虧損 Net book value 賬面淨值	106,907	39,545 (39,545)
	(39,545)
		–
	67,362

Goodwill brought forward at 1 January 2011 all related to the distribution of data media products. Owing to the significant and continuous losses incurred by this business unit, full impairment of goodwill of HK$39,545,000 was made in previous years.

於二零一一年一月一日結轉之商譽均與分 銷數據媒體產品有關。由於此業務單位產 生重大及持續虧損，故已就過往年度之商 譽作出全數39,545,000港元之減值。

AMCO UNITED HOLDING LIMITED Annual Report 2011

126

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

19. GOODWILL (continued)

Impairment testing on goodwill

Goodwill at 31 December 2011 all relates to the manufacturing and sale of medical devices products business unit acquired as part of the acquisition of the Titron Group during the year, as further explained in note 1 and 35. At year end the goodwill relating to this business unit, which is also a cash generating unit (“CGU”) is subjected to impairment testing.

19. 商譽 （續）

商譽之減值測試

於二零一一年十二月三十一日之商譽均與 年內所收購之製造及銷售醫療設備產品業 務單位（作為收購德隆集團之一部份）有關 （如附註1及35所進一步闡釋）。於年末，與 本業務單位有關之商譽（亦為現金產生單 位（「現金產生單位」））須進行減值測試。

The recoverable amounts of the CGU have been determined from value in use calculations based on cash flow projections based on the financial budgets approved by the management covering a five-year period, and at a discount rate of 16.66%. The cash flows beyond that five-year period have been extrapolated using a zero growth rate.

現金產生單位之可收回金額乃根據基於管 理層所批准之涵蓋五年期之財政預算計算 之現金流量預測以使用價值計算方式及按 16.66%之折現率釐定。超出五年期之現金 流量已使用零增長率推算。

All of the assumptions and estimations involved in the preparation of the cash flow projects including budgeted gross margin, discount rate, growth rate and inflation rate are determined by the management of the Group based on past performance, experience and their expectation for market development.

涉及編製現金流量預測之所有假設及估計 （包括已預算毛利率、折現率、增長率及通 脹率）乃由本集團管理層根據過往表現、經 驗及彼等對市場發展之預期而釐定。

The directors of the Company believe that any reasonably possible change in the key assumptions on which the recoverable amount is based would not cause the carrying amount of the unit to exceed the aggregate recoverable amount of the CGU.

本公司董事認為，可收回金額所基於之關 鍵假設之所有合理可能變動將不會導致該 單位之賬面值超出現金產生單位之可收回 總額。

雋泰控股有限公司 2011 年報

127

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

20. AVAILABLE-FOR-SALE FINANCIAL ASSETS

20. 可供出售之財務資產

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Bond fund, at market value 債券基金，按市值	1,169	–

The fair value of the bond fund has been determined by reference to their quoted bid prices at the reporting date. The available-forsale financial assets were pledged to a bank against the general banking facilities of the Group.

債券基金之公允價值乃經參考其於報告日 期之買入報價釐定。可供出售財務資產已 就本集團之一般銀行信貸而抵押予銀行。

21. INVENTORIES

21. 存貨

21.存貨 INVENTORIES
	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Raw materials 原材料 Work in progress 在製品 Finished goods 製成品	7,466	20,600 1,525 6,882
	1,152
	5,568
		29,007
	14,186

22. TRADE AND OTHER RECEIVABLES

22. 貿易及其他應收款項

TRADE AND OTHER RECEIVABLES	22.貿易及其他應收款項	22.貿易及其他應收款項	22.貿易及其他應收款項	22.貿易及其他應收款項
	The Group The Company 本集團 本公司 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元
Trade and bill receivables 貿易應收款項及 應收票據 Less: Impairment loss recognised on trade receivables 減：就貿易應收款項已 確認之減值虧損 Other deposits, prepayments and other receivables 其他按金、預付款項及 其他應收款項 Total trade and other receivables 貿易及其他 應收款項總額	39,910	29,046	–	– –
	(8,278)	(16,461)	–
				– 162
	31,632	12,585	–
	12,777	5,032	1,112
				162
	44,409	17,617	1,112

AMCO UNITED HOLDING LIMITED Annual Report 2011

128

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

22. TRADE AND OTHER RECEIVABLES (continued)

22. 貿易及其他應收款項 （續）

The Group allows an average credit period of 30 to 90 days (2010: 30 to 120 days) to its trade customers. The following is an aged analysis of trade and bill receivables as at the end of the reporting period.

本集團給予其貿易客戶之平均信貸期為30 至90天（二零一零年：30至120天）。以下 為於報告期末貿易應收款項及應收票據之 賬齡分析。

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Current 即期 1 to 90 days 1至90天 91 to 180 days 91至180天 Over 181 days 181天以上 Trade and bill receivables, gross 貿易應收款項及應收票據總額 Less: Provision for impairment losses of trade and bill receivables 減：貿易應收款項及 應收票據減值虧損撥備	16,014	9,636 3,478 517 15,415
	8,769
	3,574
	11,553
		29,046 (16,461)
	39,910
	(8,278)
		12,585
	31,632

In respect of trade and bill receivables, individual credit evaluations are performed on all customers requiring credit over a certain amount. These evaluations focus on the customers’ past history of making payments when due and current ability to pay, and take into account information specific to the customer as well as pertaining to the economic environment in which the customers operate. Receivables that were neither past due nor impaired which constitute about 51% (2010: 69%) of total trade and bill receivables, relate to a wide range of customers for whom there was no recent history of default. The Group does not hold any collateral over these balances. The following is an aged analysis of trade and bill receivables (net of accumulated impairment losses) as at the end of the reporting period.

就有關貿易應收款項及應收票據而言，需對 信貸超過某一金額之所有客戶進行個別信 貸評估。此等評估集中於客戶之過去付款 記錄及現在之付款能力，並計及客戶之特 定資料以及與客戶業務有關之經濟環境。 未逾期亦未減值的應收款項（佔貿易應收 款項及應收票據總額51%（二零一零年： 69% ）），與近期並無拖欠記錄的廣泛客戶 有關。本集團就該等結餘並未持有任何抵 押。於報告期末，貿易應收款項及應收票據 （扣除累計減值虧損）之賬齡分析如下。

雋泰控股有限公司 2011 年報

129

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

22. TRADE AND OTHER RECEIVABLES (continued)

22. 貿易及其他應收款項 （續）

22.貿易 TRADE AND OTHER RECEIVABLES(continued)	及其他應收款項（續）	及其他應收款項（續）
	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Neither past due nor impaired 未逾期亦未減值 Less than 3 months past due 逾期少於三個月 3 to 6 months past due 逾期三至六個月 Over 6 months past due 逾期六個月以上	16,014	8,734
		2,999 503 349
	8,769
	3,574
	3,275
		3,851
	15,618
		12,585
	31,632

Included in the Group’s trade receivables balance are debtors with aggregate carrying amount of approximately HK$15,618,000 (2010: HK$3,851,000) which are past due as at the reporting date for which the Group has not provided for impairment loss. The Group does not hold any collateral over these balances.

本集團之貿易應收款項包括已於報告日期 逾期之賬面值總計約15,618,000港元（二 零一零年：3,851,000港元）之應收款項，而 本集團並未就該減值虧損計提撥備。本集 團就該等結餘並未持有任何抵押。

Receivables that were past due but not impaired relate to a number of independent customers that have a good repayment record with the Group. Based on past experience, management believes that no impairment allowance is necessary in respect of these balances as there has not been a significant change in credit quality and the balances are still considered fully recoverable.

已逾期但未減值的應收款項與本集團若干 有良好還款記錄的獨立客戶有關。因信貸 質素並無重大變動，根據過往經驗，管理層 認為並無必要就該等結餘作出減值撥備， 且該等結餘被視為仍可悉數收回。

Movement in the impairment losses of trade and bill receivables

貿易應收款項及應收票據減值虧 損變動

損變 and bill receivables	動	動
	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
At 1 January 於一月一日 Exchange realignment 匯兌調整 Impairment loss recognised (Note 13(a)) 已確認減值虧損（附註13(a)） Disposal of subsidiaries 出售附屬公司 Amounts written off as uncollectible 撇銷不可收回款項 Reversal of impairment losses 減值虧損撥回 At 31 December 於十二月三十一日	16,461	9,896 6 10,009 (91) (3,000) (359)
	43
	238
	(7,798)
	(1)
	(665)
		16,461
	8,278

AMCO UNITED HOLDING LIMITED Annual Report 2011

130

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

22. TRADE AND OTHER RECEIVABLES (continued)

Movement in the impairment losses of trade and bill receivables (continued)

22. 貿易及其他應收款項 （續）

貿易應收款項及應收票據減值虧 損變動 （續）

In determining the recoverability of a trade receivable, the Group considers any change in the credit quality of the trade receivable for the date credit was initially granted up to the end of the reporting period.

在釐定貿易應收款項之可收回性時，本集 團考慮由初始授出信貸當日起至報告期末 期間，有關貿易應收款項之信貸質素出現 之任何變動。

Included in the allowance for doubtful debts are individually impaired trade receivables with an aggregate balance of approximately HK$8,278,000 (2010: HK$16,461,000) which were past due for more than 6 months. The Group does not hold any collateral over these balances.

呆賬撥備包括逾期逾六個月之個別減值貿 易應收款項，結餘總額約為8,278,000港元 （二零一零年：16,461,000港元）。本集團 就該等結餘並未持有任何抵押。

During the year ended 31 December 2011, no trade receivable (2010: HK$8,656,000) was written off due to ceased business of the customers.

截至二零一一年十二月三十一日止年度，概 無貿易應收款項（二零一零年：8,656,000 港元）因客戶終止業務而撇銷。

As at 31 December 2011, no trade receivables were factored with financial institutions (2010: HK$9,477,000). The Group continues to recognise the full carrying amount of these factored receivables, and has recognised the cash received as an unsecured borrowing.

於二零一一年十二月三十一日，貿易應收 款項概無與金融機構有關（二零一零年： 9,477,000港元）。本集團繼續確認該等應 收保理賬款的悉數賬面值並已確認已收現 金為一項無抵押借貸。

雋泰控股有限公司 2011 年報

131

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

22. TRADE AND OTHER RECEIVABLES (continued)

Movement in the impairment losses of other receivables

22. 貿易及其他應收款項 （續） 其他應收款項減值虧損變動

其他 Movement in the impairment losses of other receivables	應收款項減值虧損變動	應收款項減值虧損變動
	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
At 1 January 於一月一日 Impairment loss recognised (Note 13(a)) 已確認減值虧損（附註13(a)） At 31 December 於十二月三十一日	–	– –
	244
		–
	244

23. REFUNDABLE DEPOSIT PAID FOR ACQUISITION OF MINING RIGHTS

23. 已支付收購採礦權之可退回按 金

金 ACQUISITION OF MINING RIGHTS
	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
At 1 January 於一月一日 Refundable deposit paid 已支付可退回按金 Less: refund from vendor 減：賣方退還款項 Less: impairment loss recognised (Note 13(b)) 減：已確認減值虧損（附註13(b)） At 31 December 於十二月三十一日	23,400	– 39,000 – (15,600)
	–
	(11,700)
	(11,700)
		23,400
	–

Pursuant to a conditional sale and purchase agreement and a supplementary agreement entered into between Jackin Purchasing Co., Ltd. (“Jackin Purchasing”), a wholly owned subsidiary of the Company and Cui Zhan Lin (the “Vendor”), an independent third party on 18 December 2009 and 1 September 2010 respectively, Jackin Purchasing conditionally agreed to acquire the entire issued share capital of SE Metal Resource Corp. (“SE Metal Resource”), whose primary asset was certain mining rights, at a consideration of approximately HK$500,000,000, of which US$9,000,000 (approximately HK$69,750,000) was to be settled by cash and the remaining balance of HK$430,250,000 was to be settled in the form of consideration shares and convertible notes to be issued by the Company. During the year ended 31 December 2010, a refundable deposit of US$5,000,000 (approximately HK$39,000,000) was paid and a share charge over the 50% of the issued share capital of SE Metal Resources in favour of Jackin Puchasing was executed in accordance with the terms thereof.

根據本公司之全資附屬公司 J a c k i n P u r c h a s i n g C o . , L t d .（「 J a c k i n Purchasing 」）與一名獨立第三方崔占林 （「賣方」）分別於二零零九年十二月十八 日及二零一零年九月一日訂立之一份有條 件買賣協議及補充協議，Jackin Purchasing 有條件同意以代價約500,000,000港元 購買SE Metal Resource Corp（「SE Metal Resource 」）(該公司之主要資產為若干採 礦權）之全部已發行股本，其中9,000,000 美元（約69,750,000港元）將以現金支付， 而餘額430,250,000港元將由本公司以發 行代價股份及可換股票據方式支付。截至 二零一零年十二月三十一日止年度，可退 回按金5,000,000美元（約39,000,000港 元）乃根據有關協議之條款支付並以Jackin Purchasing為受益人就SE Metal Resource 全部已發行股本之50%簽訂股份押記。

AMCO UNITED HOLDING LIMITED Annual Report 2011

132

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

23. REFUNDABLE DEPOSIT PAID FOR ACQUISITION OF MINING RIGHTS (continued)

On 22 March 2011, the Company announced that the conditional sales and purchase agreement had been terminated by a termination notice served to the Vendor. Relevant details are set out in the Company’s announcement dated 22 March 2011.

Subsequent to the termination notice served by the Company to the Vendor and his legal representative, on 24 March 2011, the Group received a counterclaim from the legal representative of the Vendor claiming against Jackin Purchasing for a total sum of approximately US$3,845,000 (equivalent to approximately HK$29,917,000) pertaining to the exploration and drilling expenses alleged to have been incurred on behalf of or for the benefit of Jackin Purchasing. The Vendor proposed to offset the above amount against the refundable deposit of US$5,000,000 (equivalent to HK$39,000,000).

Based on advice from the legal advisor of the Group, the directors of the Company were of the opinion that the legal basis of the counterclaim was yet to be established and proved by the Vendor, and consequently the Group had no obligation to meet these demands. However, in view of the counterclaim and dispute with the Vendor, the directors of the Company believed it was uncertain the Group would fully recover the refundable deposits from the Vendor. Accordingly the directors made their best estimate of what would be recovered and made an impairment provision of US$2,000,000 (equivalent to HK$15,600,000) on the refundable deposit for the year ended 31 December 2010.

On 31 March 2011, the Company’s legal advisor issued a letter to the Vendor asking for the legal basis and supporting information on the claims. Subsequently, the Vendor reached out to the Company with a proposal to settle the matter. In view of the time, cost and risk of taking legal action to settle the dispute, the directors of the Company agreed to enter into a settlement agreement with the Vendor on 19 April 2011. Under the settlement agreement, the Vendor agreed to refund US$1.5 million (equivalent HK$11,700,000) of the deposit to the Group (which was received on 17 May 2011) and the balance of the deposit of US$1,500,000 (equivalent to HK$11,700,000) was written off as an impairment loss in the current year (Note 13(b)).

1. 已支付收購採礦權之可退回按 金 （續）

於二零一一年三月二十二日，本公司宣佈 有條件買賣協議已通過向賣方發出終止通 知方式予以終止。有關詳情載於本公司日 期為二零一一年三月二十二日之公佈。

於本公司向賣方及其法定代表發出終止通 知後，於二零一一年三月二十四日，本集團 接獲賣方之法定代表發出之反訴，代表或為 Jackin Purchasing之利益對聲稱已產生之開 採及鑽探開支合共約3,845,000美元（相等 於約29,917,000港元）向Jackin Purchasing 提出索償。賣方擬將上述金額與可退回按金 5,000,000美元（相等於39,000,000港元） 抵銷。

根據本集團法律顧問之意見，本公司董事 認為，反索償之法律依據尚待賣方確定及 證明，因此，本集團並無責任滿足該等要 求。然而，鑑於反索償及與賣方之爭議，本 公司董事認為尚不能確定本集團將可全數 向賣方收回可退還按金。因此，董事已對將 可收回之金額作出最佳估計並於截至二零 一零年十二月三十一日止年度就可退還按 金作出2,000,000美元（相等於15,600,000 港元）減值撥備。

於二零一一年三月三十一日，本公司之法 律顧問向賣方發出函件，要求出具該等索 償之法律依據及支持性資料。其後，賣方向 本公司提出和解建議。鑑於採取法律行動 以解決爭議之時間、成本及風險，本公司董 事於二零一一年四月十九日同意與賣方訂 立和解協議。根據和解協議，賣方同意退還 按金之1,500,000美元（相等於11,700,000 港元）予本集團（已於二零一一年五月十七 日收取）及按金餘額1,500,000美元（相等 於11,700,000港元）已於本年度作為減值虧 損予以撇銷（附註13(b) ）。

雋泰控股有限公司 133 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

24. CASH AND CASH EQUIVALENTS AND PLEDGED TIME DEPOSITS

24. 現金及現金等價物及已抵押定 期存款

PLEDGED TIME DEPOSITS	期存款	期存款	期存款	期存款
	The Group The Company 本集團 本公司 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元
Short-term bank deposits 短期銀行存款 Cash at banks and in hand 銀行及手頭現金 Less: Pledged time deposits 減：已抵押定期存款	52,880	37,506	31,942	4,598 –
	223	391	9
				4,598 –
	53,103	37,897	31,951
	(3,538)	–	–
				4,598
	49,565	37,897	31,951

Cash and cash equivalents comprise bank balances and cash held by the Group, short-term bank deposits with maturity of three months or less. The bank balances carry interest at market rates which range from 0.01% to 0.50% (2010: 0.01% to 0.36%) per annum. In 2011, the short-term bank deposits of HK$32,414,000 (2010: HK$17,170,000) carry interest at fixed rates ranged from 0.34% to 1.65% (2010: 0.31% – 1.70%) per annum.

現金及現金等價物包括本集團持有之銀 行結餘及現金，及於三個月或更短期限到 期之短期銀行存款。銀行結餘按市場利率 界乎每年0.01厘至0.50厘（二零一零年： 0.01厘至0.36厘）計息。於二零一一年，短 期銀行存款32,414,000港元（二零一零年： 17,170,000港元）按固定利率界乎每年0.34 厘至1.65厘（二零一零年：0.31厘至1.70 厘）計息。

An amount of US$263,000 (approximately HK$2,038,000) and HK$1,500,000 were deposited as pledged time deposit at an annual interest rate of 0.10% and 0.34% respectively to secure certain banking facilities granted to the Group.

本集團已分別按年利率0.10厘及0.34厘以 已抵押定期存款之形式存入263,000美元 （約2,038,000港元）及1,500,000港元，以 作為向本集團授予若干銀行信貸之擔保。

AMCO UNITED HOLDING LIMITED Annual Report 2011

134

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

25. TRADE AND OTHER PAYABLES

25. 貿易及其他應付款項

TRADE AND OTHER PAYABLES	25.貿易及其他應付款項	25.貿易及其他應付款項	25.貿易及其他應付款項	25.貿易及其他應付款項
	The Group The Company 本集團 本公司 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元
Trade payables 貿易應付款項 Accruals and other payables 應計款項及 其他應付款項 Amount due to a related company 應付關連公司款項 Amounts due to subsidiaries 應付附屬公司款項	14,101	13,799	–	– 13,255
	49,057	52,009	12,587
				13,255 – 133,218
	63,158	65,808	12,587
	3,740	1,089	–
	–	–	14,822
				146,473
	66,898	66,897	27,409

As at 31 December 2011, the amount due to a related company, Titron Group Holdings Limited, in which Yip Wai Lun, Alvin (“Mr. Yip”) is common director, was unsecured, interest-free and repayable on demand.

於二零一一年十二月三十一日，應付關連 公司Titron Group Holdings Limited（葉偉 倫先生（「葉先生」）為共同董事）之款項乃 無抵押、免息，並須應要求償還。

As at 31 December 2010, the amount due to a related company, Titron Industries Limited, in which Mr. Yip is common director, was unsecured, interest-free and repayable on demand.

於二零一零年十二月三十一日，應付關連 公司德隆製造有限公司（葉先生為共同董 事）之款項乃無抵押、免息，並須應要求償 還。

The amounts due to subsidiaries are unsecured, interest free and repayable on demand.

應付附屬公司之款項乃無抵押、免息，並須 應要求償還。

雋泰控股有限公司 2011 年報

135

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

25. TRADE AND OTHER PAYABLES (continued)

25. 貿易及其他應付款項 （續）

The following is an aged analysis of trade payables presented based on the invoice date at the end of the reporting period.

以下為於報告期末按發票日期呈列之貿易 應付款項 之賬齡分析。

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Within 3 months 三個月內 Over 3 months but within 6 months 超過三個月但於六個月內 Over 6 months but within 9 months 超過六個月但於九個月內 Over 9 months but within 12 months 超過九個月但於十二個月內 Over 1 year 超過一年	11,946	9,390 1,526 787 1,439 657
	802
	320
	444
	589
		13,799
	14,101

The average credit period on purchases of goods is 30-90 days (2010: 30-90 days).

購買貨品之平均信貸期為30至90天（二零 一零年：30至90天）。

AMCO UNITED HOLDING LIMITED Annual Report 2011

136

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

26. BANK AND OTHER BORROWINGS

26. 銀行及其他借貸

26.銀行 BANK AND OTHER BORROWINGS	及其他借貸	及其他借貸
	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Bank loans and overdraft 銀行貸款及透支 – trust receipt loans －信託收據貸款 – term loans －定期貸款 Other borrowings 其他借貸 – short term borrowings on trade receivables factored with a financial institution －金融機構保理貿易 應收款項之短期借貸		– 3,434
	14,646
	–
		3,434 7,464
	14,646
	–
		10,898
	14,646
	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Secured 有抵押 Unsecured 無抵押	9,458	– 10,898
	5,188
		10,898
	14,646

The trust receipt loans borrowed from major banks situated in Hong Kong were secured by certain assets of the Group, and bore interest at 5.25% to 5.75% per annum respectively.

自位於香港之主要銀行借入之信託收據貸 款乃以本集團之若干資產作抵押，及分別 按年利率5.25厘至5.75厘計息。

雋泰控股有限公司 137 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

26. BANK AND OTHER BORROWINGS (continued)

As at 31 December 2011, total current bank loans and other borrowings were scheduled to repay as follows:

26. 銀行及其他借貸 （續）

於二零一一年十二月三十一日，即期銀行 貸款及其他借貸總額按計劃償還如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
On demand or within one year 按要求或於一年內	14,646	10,898
		10,898
	14,646

The exposure of borrowings to various interest rates changes is as follows:

借貸因各項利率變動之風險如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Fixed-rate borrowings 固定利率借貸 Variable-rate borrowings 可變利率借貸	14,646	1,755 9,143
	–
		10,898
	14,646

The weighted effective interest rates (per annum) at the end of the reporting period are as follows:

於報告期末之加權實際利率（每年）如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Bank borrowings 銀行借貸	–	6.03%

Banking Facilities

As at 31 December 2011, the Group’s banking facilities are secured by bond fund (Note 20), pledged time deposits (Note 24), guarantees given by certain directors of the Group’s subsidiaries and the Group with a maximum liability of approximately HK$25,500,000.

銀行信貸

於二零一一年十二月三十一日，本集團之 銀行信貸乃以債券基金（附註20）、已抵押 定期存款（附註24）、本集團附屬公司若干 董事所提供之擔保作抵押，而最高負債約 25,500,000港元。

AMCO UNITED HOLDING LIMITED Annual Report 2011

138

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

27. OBLIGATION UNDER FINANCE LEASES

27. 融資租約承擔

The Group leases the majority of its motor vehicles. Such assets are generally classified as finance leases as the rental period amounts to the estimated useful economic life of the assets concerned and often the Group has the right to purchase the assets outright at the end of the minimum lease term by paying a nominal amount.

本集團租用其大多數汽車。由於租期根據 有關資產的預計可使用經濟年期釐訂，而 本集團可於最短租期後以面值購買該等資 產，因此，該等資產一般分類為融資租賃。

Future lease payments are due as follows:

未來租賃付款到期年限如下：

	Minimum lease payments Interest Present Value 2011 2011 2011 HK$’000 HK$’000 HK$’000 最低租賃付款 利息 現值 二零一一年 二零一一年 二零一一年 千港元 千港元 千港元	Minimum lease payments Interest Present Value 2011 2011 2011 HK$’000 HK$’000 HK$’000 最低租賃付款 利息 現值 二零一一年 二零一一年 二零一一年 千港元 千港元 千港元	Minimum lease payments Interest Present Value 2011 2011 2011 HK$’000 HK$’000 HK$’000 最低租賃付款 利息 現值 二零一一年 二零一一年 二零一一年 千港元 千港元 千港元
Not later than one year 一年內 Later than one year and not later than five years 一年後五年內	413 (26) 387
	464 (40) 424
	877 (66) 811
	Minimum lease payments Interest Present Value 2010 2010 2010 HK$’000 HK$’000 HK$’000 最低租賃付款 利息 現值 二零一零年 二零一零年 二零一零年 千港元 千港元 千港元
Not later than one year 一年內 Later than one year and not later than five years 一年後五年內 Interest rates underlying all obligations under finance leases respective contract dates are ranging as follows:	1,384 (156) 1,228 191 (7) 184
	1,575 (163) 1,412
	所有融資租約項下承擔相關之利率於各合 約日期介乎之範圍如下： at The Group 本集團 2011 2010 二零一一年 二零一零年
Fixed-rate 固定利率		1.9% – 3.5%	2.8% – 3.5%

雋泰控股有限公司 139 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

27. OBLIGATION UNDER FINANCE LEASES

27. 融資租約承擔 （續）

(continued)

The present value of future lease payment are analysed as:

未來租金之現值分析如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Current liabilities 流動負債 Non-current liabilities 非流動負債	387	1,228 184
	424
		1,412
	811

The Group’s obligation under finance leases are secured by the lessor’s charge over the leased assets.

本集團之融資租約承擔乃以出租人就出租 資產之抵押作擔保。

28. DEFERRED TAX

28. 遞延稅項

The following is the analysis of the deferred tax balances for financial reporting purposes:

以下為就財務呈報而言作出之遞延稅項結 餘分析：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Deferred tax assets 遞延稅項資產 Deferred tax liabilities 遞延稅項負債	514	1,162 (2,607)
	(1,011)
		(1,445)
	(497)

AMCO UNITED HOLDING LIMITED Annual Report 2011

140

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

28. DEFERRED TAX (continued)

28. 遞延稅項 （續）

Details of the deferred tax liabilities and (assets) recognised and movements during the current and prior years:

當前以及先前年度內已確認之遞延稅項負 債及（資產）及其變動詳情如下：

	Accelerated tax depreciation Tax losses Revaluation of properties Amortisation of intangible assets Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 加速稅項折舊 稅項虧損 物業重估 無形資產攤銷 總計 千港元 千港元 千港元 千港元 千港元
At 1 January 2010 於二零一零年一月一日 Charge/(credit) to profit or loss for the year 自年內損益內扣除╱ （計入） Charge to equity for the year 自年內權益內扣除 Exchange difference 匯兌差額 At 31 December 2010 and 1 January 2011 於二零一零年 十二月三十一日及 二零一一年 一月一日 Charge/(credit) to profit or loss for the year 自年內損益內扣除╱ （計入） Acquisitions 收購 At 31 December 2011 於二零一一年 十二月三十一日	1,625 (1,131) 1,710 4,233 6,437 (436) – – (2,815) (3,251) – – (1,710) – (1,710) – (31) – – (31)
	1,189 (1,162) – 1,418 1,445 (1,189) 1,162 – (1,418) (1,445) 1,011 (514) – – 497
	1,011 (514) – – 497

At the end of the reporting period, the Group has unused tax losses of approximately HK$144,664,000 (2010: HK$312,664,000). In accordance with the accounting policy set out in note 4, the Group has recognised deferred tax assets in respect of tax losses of HK$514,000 as at 31 December 2011. Deferred tax assets have not been recognised in respect of the remaining tax losses as it is not probable that future taxable profits against which the losses can be utilised will be available in the relevant tax jurisdiction and entity.

於報告期末，本集團之未動用稅項虧 損約 144,664,000 港元（二零一零年： 312,664,000港元）。根據附註4所載之會計 政策，本集團就於二零一一年十二月三十一 日514,000港元之稅項虧損確認遞延稅項資 產。由於在有關稅務司法權區及就有關實 體而言有可供動用之虧損以抵銷未來應課 稅溢利之可能性很低，故並無就其餘稅項 虧損確認遞延稅項資產。

雋泰控股有限公司 2011 年報

141

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

28. DEFERRED TAX (continued)

Tax losses of approximately HK$48,247,000 attributable to subsidiaries in PRC and HK$120,848,000 attributable to subsidiaries in Hong Kong were cancelled during the year ended 31 December 2011 due to the liquidation of JEL and its subsidiaries.

Tax losses of HK$3,842,000 (2010: HK$52,156,000) attributable to certain subsidiaries in the PRC had an expiry period of five years. The remaining tax losses of approximately HK$140,822,000 (2010: HK$260,508,000) do not expire under current tax legislation.

At 31 December 2011, the Group has deductible temporary d i f f e r e n c e o f a p p r o x i m a t e l y H K $ 2 5 , 8 2 1 , 0 0 0 ( 2 0 1 0 : HK$37,021,000). No deferred tax asset has been recognised in relation to such deductible temporary difference as it is uncertain that taxable profit will be available against which the deductible temporary differences can be utilised.

28. 遞延稅項 （續）

由於JEL及其附屬公司清盤，中國附屬公司 應佔稅項虧損約48,247,000港元及香港附 屬公司應佔稅項虧損120,848,000港元於截 至二零一一年十二月三十一日止年度已予 以註銷。

若干中國附屬公司應佔稅項虧損3,842,000 港元（二零一零年：52,156,000港元），屆 滿期間為五年。根據現行稅法，餘下稅項 虧損約140,822,000港元（二零一零年： 260,508,000港元）並無屆滿。

於二零一一年十二月三十一日，本集團可 扣減暫時差額約為25,821,000港元（二零 一零年：37,021,000港元）。就該可扣減暫 時差額而言，因其不確定於應課稅溢利將 可用作扣減暫時差額中獲動用，故並無確 認有關之遞延稅項資產。

AMCO UNITED HOLDING LIMITED 142 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

29.	SHARE CAPITAL	29.股本 Par value per share Number of shares Amount HK$ ‘000 HK$’000 每股面值 股份數目 金額 港元 千股 千港元
	Authorised: 法定： Balance as at 1 January 2010 於二零一零年一月一日 之結餘 0.1 2,000,000 200,000 Increase in shares on 8 December 2010 (Note a) 於二零一零年十二月八日 之股份增加（附註a） 0.1 2,000,000 200,000 Balance as at 31 December 2010 and 1 January 2011 於二零一零年十二月 三十一日及二零一一年 一月一日之結餘 0.1 4,000,000 400,000 Balance as at 31 December 2011 於二零一一年十二月 三十一日之結餘 0.01 40,000,000 400,000 Issued and fully paid: 已發行及繳足： Balance as at 1 January 2010 於二零一零年一月一日之 結餘 0.1 1,093,099 109,310 Share issued under share option scheme (Note b) 根據購股權計劃發行之股份 （附註b） 0.1 652 65 Share issued on conversion of convertible bonds (Note c) 轉換可換股債券發行之股份 （附註c） 0.1 200,000 20,000 Issue of subscription shares (Note d) 發行認購股份（附註d） 0.1 210,000 21,000 Balance as at 31 December 2010 and 1 January 2011 於二零一零年十二月三十一日 及二零一一年一月一日之 結餘 0.1 1,503,751 150,375 Capital reduction (Note e) 股本削減（附註e） (135,337) Issue of shares upon exercise of right shares of HK$0.01 each (Note f) 於行使每股面值0.01港元之 供股股份時發行股份 （附註f） 0.01 1,654,125 16,541 Share issued on conversion of convertible bonds (Note g) 轉換可換股債券發行之股份 （附註g） 0.01 4,151,240 41,512 Share issued on conversion of convertible notes (Note h) 轉換可換股票據發行之股份 （附註h） 0.01 1,449,124 14,491 Balance as at 31 December 2011 於二零一一年 十二月三十一日之結餘 0.01 8,758,240 87,582	0.1 2,000,000 200,000 0.1 2,000,000 200,000
		0.1 4,000,000 400,000
		0.01 40,000,000 400,000
		0.1 1,093,099 109,310 0.1 652 65 0.1 200,000 20,000 0.1 210,000 21,000
		0.01 8,758,240 87,582

雋泰控股有限公司

143

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

29. SHARE CAPITAL (continued)

Notes:

• (a) Pursuant to an ordinary resolution passed by the shareholders at the special general meeting held on 8 December 2010, the authorised share capital was increased from HK$200,000,000 to HK$400,000,000 by the creation of an additional 2,000,000,000 ordinary shares of HK$0.10 each which rank pari passu with the existing shares in all respects.

• (b) On 11 May 2010, 652,000 share options were exercised to subscribe for 652,000 ordinary shares in the Company at an aggregate consideration of HK$512,000 of which HK$65,000 was credited to share capital and the balance of HK$447,000 was credited to the share premium account. HK$177,000 was transferred from the capital reserve to the share premium account.

• (c) During the year ended 31 December 2010, convertible bonds amounting to HK$50,000,000 were converted into 200,000,000 ordinary shares of HK$0.10 each at the fixed conversion price of HK$0.25 per share.

29. 股本 （續）

附註：

• (a) 根據股東於二零一零年十二月八日 舉行之股東特別大會上通過之普 通決議案，法定股本已藉增設額外 2,000,000,000股每股面值0.10港元且 於所有方面與現有股份享有同等地位 之普通股而由200,000,000港元增加 至400,000,000港元。

• (b) 於二零一零年五月十一日，652,000 份購股權已獲行使以總代價512,000 港元認購652,000股本公司普通股， 其中65,000港元已計入股本及餘額 447,000港元已計入股份溢價賬。 177,000港元由資本儲備撥至股份溢 價賬。

• (c) 於截至二零一零年十二月三十一日 止年度內，為數50,000,000港元之可 換股債券已按固定轉換價每股0.25港 元獲轉換為200,000,000股每股面值 0.10港元之普通股。

AMCO UNITED HOLDING LIMITED Annual Report 2011

144

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

29. SHARE CAPITAL (continued)

Notes: (continued)

29. 股本 （續）

附註：（續）

• (d) On 13 January 2010, the Company entered into a subscription agreement with certain independent third parties, and pursuant to which the independent third parties agreed to subscribe for new shares to be issued by the Company. Accordingly, 210,000,000 new shares at the subscription price of HK$0.95 per share were allotted and issued on 21 January 2010 (the “2010 Placing”). The subscription price of HK$0.95 representing a discount of approximately 19.5% to the closing market price of the Company’s share on 12 January 2010. The net proceeds after share issue expense of HK$193,515,000 from the 2010 Placing were used for payment of refundable deposit for the acquisition of the entire issued share capital of SE Metal Resource Corp. and the preliminary expenses on the related due diligence and evaluation exercise. Details of the 2010 Placing are set out, inter alia, in the announcement of the Company dated on 14 January 2010.

• (d) 於二零一零年一月十三日，本公司與 若干獨立第三方訂立認購協議，及據 此，該等獨立第三方已同意認購本公 司將發行之新股份。因此，認購價為 每股0.95港元之210,000,000股新股 份已於二零一零年一月二十一日獲配 發及發行（「二零一零年配售事項」）。 認購價0.95港元較本公司股份於二零 一零年一月十二日之收市價折讓約 19.5%。自二零一零年配售事項所得 之經扣除股份發行開支後之所得款項 淨額193,515,000港元已用作支付收 購SE Metal Resource Corp.全部已發 行股本之可退還按金及相關盡職審查 及評估活動之初步開支。二零一零年 配售事項之詳情載於（其中包括）本公 司日期為二零一零年一月十四日之公 佈內。

• (e) Pursuant to the announcement dated 11 August 2011, the issued share capital of the Company was proposed to be reduced by reducing the par value of each share from HK$0.1 to HK$0.01, thereby cancelling the paid-up capital to the extent of HK$0.09 on each share in issue. The credit balance of HK$514,839,000 arising from the proposed capital reduction was credited to the contributed surplus account of the Company and then applied to set off against the accumulated losses as permitted by the laws of Bermuda and the Bye-Laws. The Company’s authorised share capital remains at HK$400,000,000, divided into 40,000,000,000 shares of HK$0.01 each. Pursuant to the special general meeting held on 5 September 2011, the resolution for the Capital Reorganisation was passed and became effective on the 6 October 2011.

• (e) 根據日期為二零一一年八月十一日之公 佈，本公司之已發行股本擬透過將每股 面值由0.1港元削減至0.01港元削減， 從而註銷繳足股本每股已發行股份0.09 港元。建議股本削減產生之貸方結餘 514,839,000港元計入本公司實繳盈餘 賬，然後用於抵銷百慕達法例及細則許 可之累計虧損。本公司之法定股本仍為 400,000,000港元，分為40,000,000,000 股每股面值0.01港元之股份。根據於二 零一一年九月五日舉行之股東特別大 會，股本重組決議案於二零一一年十月 六日獲通過並生效。

雋泰控股有限公司 2011 年報

145

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

29. SHARE CAPITAL (continued)

Notes: (continued)

• (f) Pursuant to an ordinary resolution passed by the shareholders about the Rights Issue and Capital Reorganisation at the special general meeting held on 5 September 2011, the number of issued and fully paid ordinary shares was increased by 1,654,125,555 ordinary shares of HK$0.01 each which rank pari passu with the existing shares in all respects. Rights issue is made on the basis of 11 Rights Shares for every 10 Shares at HK$0.05 per Rights Share, raising total share proceeds of HK$82,706,000 before related issue expenses.

• (g) On 20 June 2011, the Company, Ugent Holdings Limited, the initial issuer of the convertible bonds (“Ugent CB”) and the Bondholders entered into the Redemption Agreement, of which, Ugent shall give written notice to the Ugent Bondholders to redeem the Ugent CB. The Ugent Bondholders can use the Ugent CB to convert into the Company’s share as settlement. During the year ended 31 December 2011, all Ugent CB in the amount of approximately HK$206,433,000 were converted into 4,151,240,001 ordinary shares at the agreed conversion rate of HK$0.05/share per the Redemption Agreement. Further details are set out in Note 37(a).

• (h) During the year ended 31 December 2011, certain convertible notes in the amount of approximately HK$72,456,000 were converted into 1,449,123,800 ordinary shares at the agreed conversation rate of HK$0.05/share per the Sales & Purchase Agreement to acquire the Titron Group. Further details are set out in Note 37(b).

All shares issued during the years ended 31 December 2011 and 2010 rank pari passu with the then existing shares in issue in all respects.

29. 股本 （續）

附註：（續）

• (f) 根據於二零一一年九月五日舉行之股 東特別大會上經股東通過之有關供股 及股本重組之普通決議案，已發行及 繳足普通股數目增加1,654,125,555 股每股面值0.01港元且於所有方面 與現有股份享有同等地位之普通股。 供股之基準為每持有十股股份可按 每股供股股份0.05港元獲發十一股 供股股份，以籌集股份所得款項總額 82,706,000港元（扣除相關發行開支 前）。

• (g) 於二零一一年六月二十日，本公司、 Ugent Holdings Limited、可換股債券

• （「Ugent可換股債券」）之初始發行 人及債券持有人訂立贖回協議，其中 Ugent將向Ugent債券持有人發出書面 通知以贖回Ugent可換股債券。Ugent 可換股債券持有人可使用Ugent可換 股債券轉換為本公司股份作為結算。 於截至二零一一年十二月三十一日止 年度，所有為數約206,433,000港元 之Ugent可換股債券已根據贖回協議 按協定轉換價每股0.05港元獲轉換為 4,151,240,001股普通股。進一步詳情 載於附註37(a)。

• (h) 於截至二零一一年十二月三十一日 止年度，若干為數約72,456,000港 元之可換股票據已根據買賣協議按 協定轉換價每股0.05港元獲轉換為 1,449,123,800股普通股以收購德隆集 團。進一步詳情載於附註37(b)。

於截至二零一一年及二零一零年十二月 三十一日止年度內發行之所有股份於所有 方面與現有已發行股份享有同等地位。

AMCO UNITED HOLDING LIMITED 146 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

30. RESERVE

30. 儲備

RESERVE	30.儲備
	The Company Share premium Capital reserve Contribution surplus Convertible bonds reserve Accumulated losses Total HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Note a) (Note b) 本公司 股份溢價 資本儲備 供款盈餘 可換股 債券儲備 累計虧損 總計 千港元 千港元 千港元 千港元 千港元 千港元 （附註a） （附註b）
As at 1 January 2010 於二零一零年一月一日 174,412 24 15,048 4,401 (232,647) (38,762) Loss for the year 年度虧損 – – – – (367,919) (367,919) Total comprehensive income for the year 年度全面收入總額 – – – – (367,919) (367,919) Equity-settled share-based transactions 以股本結算股份為基礎之交易 – recognition of equity-settled share-based payment expenses －確認以股本結算股份為 基礎之付款開支 – 21,483 – – – 21,483 – lapse of options granted to employees －授予僱員之購股權失效 – (5) – – 5 – Issue of new shares under share option scheme (Note 29(b)) 根據購股權計劃發行新股 （附註29(b)） 624 (177) – – – 447 Issue of new shares on conversion of convertible bonds (Note 29(c)) 轉換可換股債券發行新股 （附註29(c)） 31,951 – – (4,401) – 27,550 Issue of subscription of shares (Note 29(d)) 發行認購股份（附註29(d)） 178,500 – – – – 178,500 Transaction costs attributable to issue of subscription shares 發行認購股份應佔交易成本 (5,985) – – – – (5,985) As at 31 December 2010 and 1 January 2011 於二零一零年十二月三十一日 及二零一一年一月一日 379,502 21,325 15,048 – (600,561) (184,686) Loss for the year 年度虧損 – – – – (186,320) (186,320) Total comprehensive income for the year 年度全面收入總額 – – – – (186,320) (186,320) Equity-settled share-based transactions 以股本結算股份為基礎之交易 – recognition of equity-settled share-based payment expenses －確認以股本結算股份 為基礎之付款開支 – 2,076 – – – 2,076 – lapse of options granted to employees －授予僱員之購股權失效 – (7,986) – – 7,986 – Issue of new shares under rights issue (Note 29(f)) 根據供股發行新股 （附註29(f)） 66,165 – – – – 66,165 Capital reduction (Note 29(e)) 股本削減（附註29(e)） (379,502) – (15,048) – 529,887 135,337 Issue of new shares to settle convertible bonds (Note 29(g)) 償還可換股債券時發行新股份 （附註29(g)） 132,841 – – – – 132,841 Issue of new shares on conversion of convertible notes (Note 29(h)) 轉換可換股票據發行新股 （附註29(h)） 33,330 – – – – 33,330 Transaction costs attributable to issuance of new shares 發行新股份應佔交易成本 (8,508) – – – – (8,508) As at 31 December 2011 於二零一一年十二月三十一日 223,828 15,415 – – (249,008) (9,765)	174,412 24 15,048 4,401 (232,647) (38,762) – – – – (367,919) (367,919)
	– – – – (367,919) (367,919)

雋泰控股有限公司 2011 年報

147

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

30. RESERVE (continued)

Notes:

• (a) The application of share premium account is governed by Section 40 of the Bermuda Companies Act 1981.

• (b) At 31 December 2011 and 2010, the capital reserve comprises the fair value of the actual or estimated number of unexercised share options granted to directors and employees of the Company recognised in accordance with the accounting policy adopted for share-based payments as further detailed in note 4 to the consolidated financial statements.

31. EMPLOYEE RETIREMENT BENEFITS

The Group operates a Mandatory Provident Fund Scheme (“the MPF scheme”) under the Hong Kong Mandatory Provident Fund Schemes Ordinance for employees employed under the jurisdiction of the Hong Kong Employment Ordinance. The MPF scheme is a defined contribution retirement plan administered by independent trustees. Under the MPF scheme, the employer and its employees are each required to make contributions to the plan at 5% of the employees’ relevant income, subject to a cap of monthly relevant income of HK$20,000. Contributions to the plan vest immediately.

Pursuant to the regulations of the relevant authorities in the PRC, the subsidiaries of the Group in the PRC participate in certain government retirement benefit schemes (the “Schemes”) whereby the subsidiaries are required to contribute to the Schemes to fund the retirement benefits of their eligible employees. Contributions made to the Schemes are calculated based on certain percentages of the applicable payroll costs as stipulated under the relevant requirements in the PRC. The relevant authorities of the PRC are responsible for the entire pension obligations payable to the retired employees. The only obligation of the Group with respect to the Scheme is to pay the ongoing required contribution under the Schemes.

30. 儲備 （續）

附註：

• (a) 股份溢價賬之應用受一九八一年百慕 達公司法第40條規管。

• (b) 於二零一一年及二零一零年十二月 三十一日，資本儲備包括根據進一步 詳情載列於綜合財務報表附註4的以 股份為基礎付款而採納之會計政策確 認授予本公司董事及僱員之未行使購 股權之實際或估計數目之公允價值。

31. 僱員退休福利

本集團根據香港強制性公積金計劃條例，為 在香港僱傭條例司法權區內受僱之僱員運 作強制性公積金計劃（「強積金計劃」）。強 積金計劃乃由獨立信託人管理之定額供款 退休計劃。根據強積金計劃，僱主及其僱員 各自須按僱員之有關收入之5%作出供款， 惟以每月有關收入20,000港元為上限。向 計劃作出之供款即時歸屬。

根據中國相關機構之法規，本集團在中國之 附屬公司參與若干政府退休福利計劃（「該 計劃」），據此，附屬公司須為該計劃供款以 資助其合資格僱員之退休福利。為該計劃 作出之供款乃根據中國相關規定所規定之 適用薪金之若干百分比計算。中國之相關 機構乃負責應付予退休僱員之全部退休金 責任。本集團就該計劃之唯一責任為根據 該計劃支付持續需要之供款。

AMCO UNITED HOLDING LIMITED 148 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

31. EMPLOYEE RETIREMENT BENEFITS (continued)

The employees of the Company’s subsidiaries in other jurisdictions are members of state-managed retirement benefits schemes operated by the government of the respective jurisdictions. The subsidiaries are required to contribute a specified percentage of their payroll costs to the retirement benefits schemes. The only obligation of the Group with respect of the retirement benefits schemes is to make the specified contributions.

During the year, the Group made retirement benefits scheme contributions totalling HK$641,000 (2010: HK$751,000). At the end of the reporting period, there are no forfeited contributions.

32. SHARE OPTION SCHEME

The Company has a share option scheme which was adopted on 12 June 2004 whereby the directors of the Company are authorised, at their discretion, to invite employees of the Group, to take up options at nominal consideration to subscribe for shares of the Company.

The total number of shares which may be issued upon exercise of all options to be granted under the scheme shall not in aggregate exceed 10% of the total number of shares in issue as at the date of approval of the scheme, unless the Company obtains a fresh approval from its shareholders. Notwithstanding this, the maximum number of shares which may be issued upon exercise of all outstanding options granted and yet to be exercised under the scheme shall not exceed 30% of the total number of shares in issue from time to time. The total number of shares issued and to be issued upon exercise of the options granted to any individual in any 12-month period shall not exceed 1% of the total number of shares in issue at any point in time, without prior approval from the Company’s shareholders. Options granted to any individual who is a substantial shareholder of the Company or independent non-executive director or any of their respective associates in the 12-month period up to and including the date of such grant in excess of 0.1% of the Company’s share capital at the date of grant or with a value in excess of HK$5 million must be approved in advance by the Company’s shareholders.

31. 僱員退休福利 （續）

於其他司法權區之本公司附屬公司之僱員 為各個司法權區政府運作之國家管理退休 計劃之成員。附屬公司須向退休福利計劃作 出該等僱員薪金成本之特定百分比供款。 本集團對退休福利計劃之唯一責任乃作出 特定供款。

於年內，本集團作出退休福利計劃供款合 共641,000港元（二零一零年：751,000港 元）。於報告期末，概無任何被沒收供款。

32. 購股權計劃

本公司已於二零零四年六月十二日採納一 項購股權計劃，據此，本公司董事已獲授權 可酌情邀請本集團僱員以象徵式代價接納 購股權，從而認購本公司股份。

根據該計劃可能授出之所有購股權於獲行 使後可能發行之股份總數，除非本公司取 得其股東之重新批准，否則不可超過於批 准該計劃當日已發行股份總數之10%。儘 管如此，根據該計劃授出但未行使之所有 尚未行使購股權於行使後可能發行之最高 股份數目，不可超過不時已發行股份總數 之30%。於任何12個月期間向任何人士授 出之購股權獲行使後已發行及將予發行之 股份總數，在未事先獲本公司股東批准，不 可超過任何時間已發行股份總數之1%。於 直至有關授出日期(包括該日）止12個月期 間向任何為本公司主要股東或獨立非執行 董事或任何彼等各自之聯繫人士授出超過 本公司於授出當日股本之0.1%或價值超過 5,000,000港元之購股權，必須事先獲本公 司股東批准。

雋泰控股有限公司 2011 年報

149

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

32. SHARE OPTION SCHEME (continued)

32. 購股權計劃 （續）

Options granted must be taken up within 28 days of the date of grant upon payment of HK$1 per grant of options. Options may generally be exercised at any time during the period after the options have been granted, such period to expire not later than 10 years after the date of the grant of the options. The subscription price for shares will not be less than the higher of (i) the closing price of the Company’s shares on the date of options granted; (ii) the average closing price of the Company’s shares for the 5 business days immediately preceding the date of options granted; and (iii) the nominal value of the Company’s shares. There is no minimum period for which an option must be held before it can be exercised.

授出之購股權須於每次授出之購股權支付 1港元後授出當日起28日內獲接納。購股 權一般可由授出購股權後之期間內隨時行 使，有關期間於不遲於授出購股權當日後 10年屆滿。股份認購價將不會低於(i)授出購 股權當日本公司股份收市價；(ii)緊接授出 購股權當日前五個營業日之本公司股份平 均收市價；及(iii)本公司股份面值三者中之 較高者。本公司並無購股權獲行使前須持 有之最短期限。

Details of specific categories of options are as follows:

有關購股權特定類別之詳情如下：

	Date of grant	Vesting period	Exercised period	Exercise price
	授出日期	歸屬期間	行使期間	行使價
2005	25 January 2005	–	25 January 2005 –	HK$0.1629
			24 January 2015	(Note (1)(a))
二零零五年	二零零五年一月二十五日	–	二零零五年一月二十五日至	0.1629港元
			二零一五年一月二十四日	（附註(1)(a)）
2010A	29 January 2010	–	29 January 2010 –	HK$0.8103
			28 January 2012	(Note (1)(b))
二零一零年A	二零一零年一月二十九日	–	二零一零年一月二十九日至	0.8103港元
			二零一二年一月二十八日	（附註(1)(b)）
2010B	29 January 2010	29 January 2010 –	29 July 2010 –	HK$0.8103
		28 July 2010	28 January 2012	(Note (1)(b))
二零一零年B	二零一零年一月二十九日	二零一零年一月二十九日至	二零一零年七月二十九日至	0.8103港元
		二零一零年七月二十八日	二零一二年一月二十八日	（附註(1)(b)）
2010C	29 January 2010	29 January 2010 –	29 January 2011 –	HK$0.8103
		28 January 2011	28 January 2012	(Note (1)(b))
二零一零年C	二零一零年一月二十九日	二零一零年一月二十九日至	二零一一年一月二十九日至	0.8103港元
		二零一一年一月二十八日	二零一二年一月二十八日	（附註(1)(b)）
2011	6 May 2011	–	6 May 2011 –	HK$0.2097
			5 May 2013	(Note (1)(c))
二零一一年	二零一一年五月六日	–	二零一一年五月六日至	0.2097港元
			二零一三年五月五日	（附註(1)(c)）

AMCO UNITED HOLDING LIMITED Annual Report 2011

150

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

32. SHARE OPTION SCHEME (continued)

32. 購股權計劃 （續）

The fair value of share options granted on 25 January 2005 was calculated using the Black-Scholes option pricing model. The fair value of share options granted on 29 January 2010 and 6 May 2011 were calculated using The Trinomial option pricing model. The inputs into the model were as follows:

於二零零五年一月二十五日授出之購股權 之公允價值乃採用柏力克－舒爾斯期權定 價模式計算。於二零一零年一月二十九日 及二零一一年五月六日授出之購股權之公 允價值乃採用三項式期權定價模式計算。 該模式之輸入值如下：

		2011	2010A	2010B	2010C	2005
		二零一一年	二零一零年A	二零一零年B	二零一零年C	二零零五年
Fair value at measurement date	於計量日期之公允價值	HK$0.097港元	HK$0.271港元	HK$0.272港元	HK$0.272港元	HK$0.096港元
Stock asset price	股份資產價格	HK$0.202港元	HK$0.750港元	HK$0.750港元	HK$0.750港元	HK$0.1580港元
Exercise price	行使價	HK$0.2034港元	HK$0.786港元	HK$0.786港元	HK$0.786港元	HK$0.1580港元
Expected volatility	預期波幅	90.74%	69.80%	69.80%	69.80%	72.00%
Expected life	預期年期	2 years年	2 years年	1.5 years年	1 year年	5 years年
Risk-free rate	無風險利率	0.550%	0.530%	0.530%	0.530%	2.801%
Expected dividend yield	預期股息率	0%	0%	0%	0%	0%

Note:

附註：

• (1) As a result of the Capital Reorganisation (see (2) below) and Rights Issue (see (3) below), adjustments were made to the number of ordinary shares to be allotted and issued upon exercise of the subscription rights attaching to all these share options then outstanding granted under the Share Option Scheme by the decrease of:

• (1) 由於股本重組（見下文(2) ）及供股（見下 文(3) ），於行使根據購股權計劃授出之 所有該等當時尚未行使購股權所附帶之 認購權後將予配發及發行之普通股數目 將透過扣減：

• (a) 192,340 ordinary shares to 186,570 ordinary shares and the exercise prices of the outstanding options were adjusted from HK$0.158 per ordinary share to HK$0.1629 per ordinary share, effective from 10 October 2011;

• (a) 192,340股普通股至186,570股普 通股以及尚未行使購股權之行使價 則由每股普通股0.158港元調至每 股普通股0.1629港元，自二零一一 年十月十日生效；

• (b) 55,710,000 ordinary shares to 54,038,700 ordinary shares and the exercise prices of the outstanding options were adjusted from HK$0.786 per ordinary share to HK$0.8103 per ordinary share, effective from 10 October 2011; and

• (b) 55,710,000股普通股至54,038,700 股普通股以及尚未行使購股權之行 使價則由每股普通股0.786港元調 至每股普通股0.8103港元，自二零 一一年十月十日生效；及

• (c) 20,000,000 ordinary shares to 19,400,000 ordinary shares and the exercise prices of the outstanding options were adjusted from HK$0.2034 per ordinary share to HK$0.2097 per ordinary share, effective from 10 October 2011.

• (c) 20,000,000股普通股至19,400,000 股普通股以及尚未行使購股權之行 使價則由每股普通股0.2034港元調 至每股普通股0.2097港元，自二零 一一年十月十日生效。

雋泰控股有限公司

151

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

32. SHARE OPTION SCHEME (continued)

Note : (continued)

• (2) Subdivision of shares on the basis that every issued and unissued share of HK$0.10 was subdivided into 10 shares of HK$0.01 each, effective on 4 October 2011 (“Capital Reorganisation”), details of which are referred to the announcement of the Company dated 7 October 2011.

• (3) Issue of 1,654,125,555 rights shares on the basis of 11 rights shares for every 10 shares at HK$0.05 per rights share and pursuant to the prospectus of the Company dated 15 September 2011 was completed on 7 October 2011 (“Rights Issue”), details of which are referred to the announcement of the Company dated 7 October 2011.

The expected volatility was based on the historical volatility of the Company’s share price over the previous ten years. The expected life used in the model was adjusted, based on management’s best estimate, for the effects of non-transferability, exercise restrictions and behavioral considerations.

32. 購股權計劃 （續）

附註：（續）

• (2) 股份分拆乃按每股0.10港元之已發行及 未發行股份分拆為10股每股0.01港元之 股份之基準進行，於二零一一年十月四 日生效（「股本重組」），詳情請參閱本公 司日期為二零一一年十月七日之公佈。

• (3) 按每十股股份獲發十一股供股股份 之基準以每股供股股份0.05港元發行 1,654,125,555股供股股份，及根據本公 司日期為二零一一年九月十五日之招股 章程，供股已於二零一一年十月七日完 成（「供股」），詳情請參閱本公司日期為 二零一一年十月七日之公佈。

預期波幅乃根據本公司股價於過去十年間 之過往波動情況釐定。根據管理層之最佳 估計，該模式所使用之預計年期已因不可 轉讓性、行使限制及行為因素之影響而予 以調整。

AMCO UNITED HOLDING LIMITED 152 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

32. SHARE OPTION SCHEME (continued)

The following table discloses movements of the Company’s share options held by directors and employees and during the year:

32. 購股權計劃 （續）

年內董事及僱員持有之本公司購股權之變 動於下表披露：

	Outstanding at 1 January 2011 Granted during the year Exercised during the year Cancelled/ Lapsed before Capital Reorganisation and Rights Issue Adjustment due to Capital Reorganisation and Rights Issue Cancelled/ lapsed after Capital Reorganisation and Rights Issue ‘000 ‘000 ‘000 ‘000 ‘000 ‘000 (Note (2) and (3)) (Note (2) and (3)) 於二零一一年 一月一日 尚未行使 年內授出 於年內行使 於股本重組及 供股前註銷╱ 失效 因股本重組及 供股而調整 於股本重組及 供股後註銷╱ 失效 千份 千份 千份 千份 千份 千份 （附註(2)及(3)） （附註(2)及(3)）	Outstanding at 1 January 2011 Granted during the year Exercised during the year Cancelled/ Lapsed before Capital Reorganisation and Rights Issue Adjustment due to Capital Reorganisation and Rights Issue Cancelled/ lapsed after Capital Reorganisation and Rights Issue ‘000 ‘000 ‘000 ‘000 ‘000 ‘000 (Note (2) and (3)) (Note (2) and (3)) 於二零一一年 一月一日 尚未行使 年內授出 於年內行使 於股本重組及 供股前註銷╱ 失效 因股本重組及 供股而調整 於股本重組及 供股後註銷╱ 失效 千份 千份 千份 千份 千份 千份 （附註(2)及(3)） （附註(2)及(3)）	Outstanding at 31 December 2011 ‘000 於二零一一年 十二月三十一日 尚未行使 千份
2005 二零零五年 2010A 二零一零年A 2010B 二零一零年B 2010C 二零一零年C 2011 二零一一年 Exercisable at the end of the reporting period 於報告期末可行使 Weighted average exercise price: 加權平均行使價：	193 – – (1) (5) –		187
	68,488 – – (12,778) (1,671) (5,950)		48,089
	4,500 – – (4,500) – –		–
	6,000 – – (6,000) – –		–
	– 20,000 – – (600) –		19,400
	79,181 20,000 – (23,279) (2,276) (5,950)		67,676
			67,676
	HK$0.7845港元 HK$0.2034港元 – HK$0.7860港元 HK$0.6310港元 HK$0.8103港元		HK$0.6363港元
		Outstanding at 1 January 2010 Granted during the year Lapsed during the year Cancelled during the year Exercised during the year ’000 ’000 ’000 ’000 ’000 於二零一零年 一月一日 尚未行使 年內授出 於年內失效 於年內註銷 於年內行使 千份 千份 千份 千份 千份	Outstanding at 31 December 2010 ’000 於二零一零年 十二月三十一日 尚未行使 千份
2005 二零零五年 2010A 二零一零年A 2010B 二零一零年B 2010C 二零一零年C Exercisable at the end of the reporting period 於報告期末可行使 Weighted average exercise price: 加權平均行使價：		245 – – (52) – – 69,140 – – (652) – 4,500 – – – – 6,000 – – –	193 68,488 4,500 6,000
		245 79,640 – (52) (652)	79,181
		HK$0.1580港元 HK$0.7860港元 – HK$0.1580港元 HK$0.7860港元	73,181
			HK$0.7845港元

The weighted average share price for share options exercised during the year was HK$nil (2010: HK$0.7860). The options outstanding at 31 December 2011 had a weighted average exercise price of HK$0.6363 (2010: HK$0.7845) and a weighted average remaining contractual life of 0.4 year (2010: 1 year).

於年內行使之購股權之加權平均股價為零 港元（二零一零年：0.7860港元）。於二零 一一年十二月三十一日尚未行使之購股權 之加權平均行使價為0.6363港元（二零一 零年：0.7845港元），而加權平均剩餘合約 年期為0.4年（二零一零年：1年）。

雋泰控股有限公司 153 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

32. SHARE OPTION SCHEME (continued)

Terms of unexpired and unexercised share options at the end of the reporting period

32. 購股權計劃 （續）

於報告期末之未屆滿及未行使購 股權之條款

Exercise price 行使價 HK$ 港元	2011 2010 Number Number 二零一一年 二零一零年 數目 數目 ’000 ’000 千份 千份	2011 2010 Number Number 二零一一年 二零一零年 數目 數目 ’000 ’000 千份 千份
Exercisable period 行使期 25 January 2005 to 24 January 2015 二零零五年一月二十五日至 二零一五年一月二十四日 0.1629 29 January 2010 to 28 January 2012 二零一零年一月二十九日至 二零一二年一月二十八日 0.8103 6 May 2011 to 5 May 2013 二零一一年五月六日至 二零一三年五月五日 0.2097		193 78,988 –
	187
	48,089
	19,400
		79,181
	67,676

The Group recognised the total expense of HK$2,076,000 (2010: HK$21,483,000) for the year ended 31 December 2011 in relation to share options granted by the Company.

截至二零一一年十二月三十一日止年度，本 集團已就本公司授出之購股權確認總開支 2,076,000港元（二零一零年：21,483,000 港元）。

33. INTERESTS IN SUBSIDIARIES

33. 於附屬公司之權益

33.於附 INTERESTS IN SUBSIDIARIES	屬公司之權益	屬公司之權益
	The Company 本公司 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Unlisted shares, at cost 非上市股份，按成本 Amount due from subsidiaries (Note (i)) 應收附屬公司款項（附註(i)） Less: Impairment loss recognised on investment 減：就投資確認之減值虧損 Less: Impairment loss recognised on amount due from subsidiaries 減：就應收附屬公司款項確認之 減值虧損	39,172	39,172 584,184
	720,314
		623,356
	759,486
		(39,172) (476,782)
	(39,172)
	(621,655)
		(515,954)
	(660,827)
		107,402
	98,659
(i) (i) The amounts due from subsidiaries are in the nature of current accounts and are unsecured, interest-free and repayable on demand.	應收附屬公司款項為流動款項性質並 為無抵押、免息及須按要求償還。

AMCO UNITED HOLDING LIMITED Annual Report 2011

154

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

33. INTERESTS IN SUBSIDIARIES (continued)

33. 於附屬公司之權益 （續）

Details of the Company’s principal subsidiaries are as follows:

本公司主要附屬公司之詳情如下：

	Place of	Particular of issued
	incorporation and	and paid-up share/	Effective ownership	interest
Name of subsidiaries	operation(Note a)	registered capital	held by the Company		Principal activities
	註冊成立及營業地點	已發行及繳足股本╱	本公司所持之
附屬公司名稱	（附註a）	註冊資本之詳情	實際所有權權益		主要業務
			Directly	Indirectly
			直接	間接
Clearview Development Limited	British Virgin Islands	10,000 ordinary shares of		100%	Investment holding
	(“BVI”)	US$1 each
Clearview Development Limited	英屬處女群島	每股面值1美元之普通股		100%	投資控股
	（「英屬處女群島」）	10,000股
Energy Best Investments Limited	BVI	1 ordinary shares of		100%	Investment holding
		US$1 each
Energy Best Investments Limited	英屬處女群島	每股面值1美元之普通股		100%	投資控股
		1股
Apex Solution Group Limited	BVI	30 ordinary shares of US$1		100%	Investment holding
		each
鴻略集團有限公司	英屬處女群島	每股面值1美元之普通股		100%	投資控股
		30股
Titron Industries Limited	Hong Kong	1,000 ordinary shares of		100%	Sales of plastic
		HK$1 each			moulding products
德隆製造有限公司	香港	每股面值1港元之普通股		100%	銷售塑膠模具產品
		1,000股
Titron International Limited	Hong Kong	1,000 ordinary shares of		100%	Sales of medical
		HK$1 each			devices
德隆環球有限公司	香港	每股面值1港元之普通股		100%	銷售醫療設備
		1,000股
Titron Manufacturing Limited	Hong Kong	1,000 ordinary shares of		100%	Sales of plastic
		HK$1 each			moulding products
德隆國際企業有限公司	香港	每股面值1港元之普通股		100%	銷售塑膠模具產品
		1,000股
Titron Precision Limited	Hong Kong	1,000 ordinary shares of		100%	Investment holding
		HK$1 each
德隆精密有限公司	香港	每股面值1港元之普通股		100%	投資控股
		1,000股
東莞德越電子塑膠製品有限公司	PRC	HK$10,800,000		100%	Manufacturing of
					plastic moulding
					products
東莞德越電子塑膠製品有限公司	中國	10,800,000港元		100%	製造塑膠模具產品

雋泰控股有限公司

155

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

33. INTERESTS IN SUBSIDIARIES (continued)

33. 於附屬公司之權益 （續）

	Place of	Particular of issued
	incorporation and	and paid-up share/	Effective ownership	interest
Name of subsidiaries	operation(Note a)	registered capital	held by the Company		Principal activities
	註冊成立及營業地點	已發行及繳足股本╱	本公司所持之
附屬公司名稱	（附註a）	註冊資本之詳情	實際所有權權益		主要業務
			Directly	Indirectly
			直接	間接
東莞益登科塑膠製品有限公司	PRC	HK$1,200,000		100%	Inactive
東莞益登科塑膠製品有限公司	中國	1,200,000港元		100%	暫無營業
永利企業管理諮詢（深圳）有限公司	PRC	RMB100,000		100%	Consultancy Service
永利企業管理諮詢（深圳）有限公司	中國	人民幣100,000元		100%	顧問服務
China Metal Trading Company	Hong Kong	1 ordinary shares of		100%	Provision of
Limited		HK$1 each			management
					services
中國金屬貿易有限公司	香港	每股面值1港元之普通股		100%	提供管理服務
		1股
Feitian Magnetic Information-	PRC	US$2,500,000		100%	Manufacture of data
Technology (Shenzhen)					media products
Co., Ltd.
輝電磁訊（深圳）有限公司	中國	2,500,000美元		100%	製造數據媒體產品
Fortune Luck Development Ltd.	BVI	4 ordinary shares of		100%	Distribution of data
		US$1 each			media products
鴻運發展有限公司	英屬處女群島	每股面值1美元之普通股		100%	分銷數據媒體產品
		4股
Jackin Manufacturing	BVI	1 ordinary share of		100%	Investment holding
(Shenzhen) Limited		US$1 each
Jackin Manufacturing	英屬處女群島	每股面值1美元之普通股		100%	投資控股
(Shenzhen) Limited		1股
Jackin Magnetic Company	Hong Kong	10 ordinary shares of		100%	Trading of data media
Limited		HK$100 each and			products
		10,000 non-voting
		deferred shares of
		HK$100 each
輝影磁電有限公司	香港	每股面值100港元之		100%	買賣數據媒體產品
		普通股10股及每股
		面值100港元之
		無投票權遞延股份
		10,000股

AMCO UNITED HOLDING LIMITED Annual Report 2011

156

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

33. INTERESTS IN SUBSIDIARIES (continued)

33. 於附屬公司之權益 （續）

	Place of	Particular of issued
	incorporation and	and paid-up share/	Effective ownership	interest
Name of subsidiaries	operation(Note a)	registered capital	held by the Company		Principal activities
	註冊成立及營業地點	已發行及繳足股本╱	本公司所持之
附屬公司名稱	（附註a）	註冊資本之詳情	實際所有權權益		主要業務
			Directly	Indirectly
			直接	間接
Jackin Video Cassette	Taiwan	2,000,000 ordinary shares		100%	Property holding
(Taiwan) Limited		of NT$10 each
台灣輝聲錄影帶股份有限公司	台灣	每股面值新台幣10元之		100%	物業控股
		普通股2,000,000股
Noble Team Holdings Limited	BVI	10,000 ordinary shares of		100%	Investment holding
		US$1 each
Noble Team Holdings Limited	英屬處女群島	每股面值1美元之普通股		100%	投資控股
		10,000股
Oakview International Limited	BVI	100 ordinary shares of	100%		Investment holding
		US$1 each
Oakview International Limited	英屬處女群島	每股面值1美元之普通股	100%		投資控股
		100股
Tempair Developments Limited	BVI	10,000 ordinary shares of		100%	Investment holding
		US$1 each
Tempair Developments Limited	英屬處女群島	每股面值1美元之普通股		100%	投資控股
		10,000股
Ugent Holdings Limited	BVI	10,000 ordinary shares of		100%	Investment holding
		US$1 each
Ugent Holdings Limited	英屬處女群島	每股面值1美元之普通股		100%	投資控股
		10,000股
深圳市深索資訊科技有限公司	PRC	RMB500,000		100%	Distribution of data
					media products
深圳市深索資訊科技有限公司	中國	人民幣500,000元		100%	分銷數據媒體產品

The above table lists out the subsidiaries of the Company as at 31 December 2011 which, in the opinion of the directors, principally affected the Group’s results for the year or formed a substantial portion of the net assets of the Group. To give details of other subsidiaries would, in the opinion of the directors, result in particulars of excessive length.

上表列載於二零一一年十二月三十一日在 董事認為主要影響本集團於本年度業績或 形成本集團之重大部分資產淨值之本公司 附屬公司。董事認為若列出其他附屬公司 之詳情將導致篇幅過於冗長。

Notes:

附註：

• (a) Other than those subsidiaries incorporated in the BVI, whose place of operations are basically in Hong Kong, the places of operations of all other subsidiaries are the same as their places of incorporation.

• (a) 除於英屬處女群島註冊成立之附屬公司 而經營地點主要為香港外，所有其他附 屬公司之經營地點與其註冊成立地點相 同。

雋泰控股有限公司 157 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

34. GAIN ON DISPOSAL OF SUBSIDIARIES

34. 出售附屬公司之收益

The Group commenced the liquidation of JEL and its subsidiaries on 8 August 2011, further details of which are set out in the Company’s announcement of the same day.

如同本公司日期為二零一一年八月八日之 公佈所披露者，本集團已進行JEL及其附屬 公司之自願清盤。

JEL and its subsidiaries were engaged in the remanufacture and sale of computer printing and imaging products, and as further explained in note 1 and 13, constituted a discounted operation. The net liabilities of JEL and its subsidiaries at the date of its deemed disposal were as follows:

誠如附註1及13進一步所述，JEL及其附屬公 司從事環保再造及銷售電腦打印及影像產 品（其已構成一項已終止經營業務）。於其 視為出售日期，JEL及其附屬公司之負債淨 值如下：

	HK$’000 千港元
Net liabilities disposed of: 出售負債淨值： Trade and other receivables 貿易及其他應收款項 Cash and cash equivalents 現金及現金等價物 Trade and other payables 貿易及其他應付款項 Other borrowings 其他借貸 Tax payable 應付稅項 Release of translation reserve upon disposal of subsidiaries 解除於出售附屬公司後之滙兌儲備 Gain on disposal (Note 13(a)) 出售收益（附註13(a)） Total consideration 總代價 Net cash outflow arising on disposal: 出售所產生之現金流出淨額： Cash consideration 現金代價 Cash and cash equivalents disposed of 出售現金及現金等價物	610 335 (15,023) (1,544) (5,776)
	(21,398) (2,624) 24,022
	–
	– 335
	335

The disposed group contributed approximately cash outflow of HK$20,834,000 in respect of operating activities, cash inflow of HK$233,000 in respect of investing activities and cash outflow of HK$5,314,000 in respect of financing activities for the year ended 31 December 2011.

截至二零一一年十二月三十一日止年度， 所出售集團就經營業務產生現金流出約 20,834,000港元，就投資活動貢獻現金 流入及就融資活動貢獻現金流出分別為 233,000港元及5,314,000港元。

AMCO UNITED HOLDING LIMITED 158 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

35. BUSINESS ACQUISITION DURING THE YEAR

35. 年內業務收購

As referred to in note 1, on 10 October 2011, Energy Best, a wholly owned subsidiary of the Group acquired 100% of the voting equity instruments of the Titron Group, whose principal activity is manufacture and sale of medical devices products and manufacture and sale of plastic moulding products.

誠如附註1所述，於二零一一年十月十日， 本集團之全資附屬公司Energy Best收購德 隆集團全部具有投票權之股本工具，而德 隆集團之主要業務為製造及銷售醫療設備 產品以及製造及銷售塑膠模具產品。

The fair value of identifiable assets and liabilities of the acquiree as at the date of acquisition were:

被收購方於收購日期之可識別資產及負債 之公允價值為：

	Fair value Titron Group’s carrying value 公允價值 德隆集團之 賬面值 HK$’000 HK$’000 千港元 千港元
Property, plant and equipment (Note 17) 物業、廠房及設備（附註17） Available-for-sale financial assets 持作可供出售之財務資產 Deferred tax assets (Note 28) 遞延稅項資產（附註28） Inventories 存貨 Trade and other receivables 貿易及其他應收款項 Cash and cash equivalents 現金及現金等價物 Trade and other payables 貿易及其他應付款項 Bank and other borrowings 銀行及其他借貸 Obligation under finance leases 融資租約承擔 Tax payable 應付稅項 Deferred tax liabilities 遞延稅項負債 Deferred tax liabilities recognised upon fair value adjustments 公允價值調整後確認之遞延 稅項負債 The fair value of consideration transfer: 代價公允價值轉讓： Cash consideration to be paid 將予支付之現金代價 Convertible notes (Note 37(b)) 可換股票據（附註37(b)） Goodwill (Note 19) 商譽（附註19）	21,921 16,176 1,136 1,136 514 514 12,660 12,660 25,965 25,965 9,623 9,623 (20,289) (20,289) (15,833) (15,833) (679) (679) (1,574) (1,574) (63) (63) (948) –
	32,433 27,636
	7,500 92,295 99,795 67,362

雋泰控股有限公司

159

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

35. BUSINESS ACQUISITION DURING THE YEAR

35. 年內業務收購 （續）

(continued)

The goodwill was attributable to the medical devices operations acquired and significant synergies are expected to arise after the Group’s acquisition. In addition, the directors believe additional business opportunities may arise to the Group as a result of the acquisition of the medical devices business, and this will diversify the source of income and enhance the future development of the Group.

The fair value of convertible notes was determined with reference to the published price of the Company’s shares at the date of acquisition of HK$0.041 per share for the HK$72.5 million Titron CN while the remaining HK$40 million Titron CN, which can only be converted into ordinary share after the warranties period 30 June 2012, the fair value of which was considered with reference to the market price together with the risk free rate relevant to the warranties period.

The fair value of trade and other receivables amounted to HK$25,965,000. The gross amount of these receivables is HK$25,965,000. None of these receivables have been impaired and it is expected that the full contractual amounts can be collected.

Since the acquisition date, Titron Group has contributed HK$43,192,000 and HK$955,000 to the Group’s revenue and profit. If the acquisition had occurred on 1 January 2011, Titron Group revenue and profit would have been HK$158,993,000 and HK$1,361,000 respectively.

The acquisition-related costs of HK$8,400,000 have been expensed and are included in administrative expenses.

On 4 March 2011, as part of the agreement with the Vendors to acquire the Titron Group, the Company entered into a Performance Incentive Agreement with Atlas Medical Limited (“Atlas”), a limited company incorporated in Hong Kong, in which Mr. Yip is one of the beneficial owners to provide services to the Titron Group. In accordance with the agreement, Atlas will be paid a monthly fee of HK$200,000 and entitled to receive a performance bonus equal to 30% of excess of the pro forma combined profit before tax of Titron Group over HK$10 million for each of the six financial years ending 31 December 2016. The amount of service fee for the year ended 31 December 2011 was HK$533,000. Altas voluntary agreed to waive this entitlement for the year ended 31 December 2011. No performance bonus and performance share was earned or payable for the year ended 31 December 2011.

商譽乃歸屬於所收購之醫療設備業務並於 本集團收購後預期將帶來之重大協同效 應。另外，董事認為，因收購醫療設備業 務，其為本集團帶來額外業務之商機，從而 可多元化收入來源及增強本集團之未來發 展。

可換股票據之公允價值乃參考於收購日期 可獲得之72,500,000港元德隆可換股票據 之本公司股份已公佈價格每股0.041港元釐 定，而餘下40,000,000港元之德隆可換股 票據僅可於保證期二零一二年六月三十日 後轉換為普通股，其公允價值已考慮保證 期內相關之市價及無風險利率。

貿易及其他應收款項之公允價值為 25,965,000港元。該等應收款項之總額為 25,965,000港元。該等應收款項概無出現 減值，並預期可收回全數合約金額。

自收購日期以來，德隆集團已向本集團之 收入及溢利貢獻43,192,000港元及955,000 港元。倘收購事項已於二零一一年一月一 日發生，則德隆集團之收入及溢利將分別 為158,993,000港元及1,361,000港元。

收購相關成本8,400,000港元已予以支銷並 計入行政開支內。

於二零一一年三月四日，作為與賣方訂立 協議以收購德隆集團之一部份，本公司與 Atlas Medical Limited（「Atlas 」，一間於香 港註冊成立之有限公司，而葉先生為其實 益擁有人之一）訂立履約獎勵協議，以向德 隆集團提供服務。根據該協議，Atlas將獲 支付月費200,000港元及有權收取德隆集 團於截至二零一六年十二月三十一日止六 個財政年度各年之備考合併除稅前溢利超 出10,000,000港元之差額之30%的履約獎 金。截至二零一一年十二月三十一日止年 度之服務費金額為533,000港元。Atlas自 願同意放棄截至二零一一年十二月三十一 日止年度之此項權利。截至二零一一年 十二月三十一日止年度並無賺取或應付之 履約獎金及履約股份。

AMCO UNITED HOLDING LIMITED 160 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

36. RELATED PARTY TRANSACTIONS

Saved as those disclosed elsewhere in the financial statements, the Group had the following material transactions with related parties:

36. 關連人士交易

除財務報表其他部份所披露者外，本集團 與關連人士進行以下重大交易：

• (a) On 23 January 2011, the Group entered into a conditional sale and purchase agreement (as amended and restated on 27 July 2011) with Mr. Yip, the Chairman and Managing Director of the Company, and other three vendors on the acquisition of the entire issued share capital/registered capital of Apex Solution Group Limited, Titron International Limited, Titron Industries Limited and its subsidiary, Titron Manufacturing Limited, Titron Precision Limited and its subsidiary and 東莞 德越電子塑膠製品有限公司 at a consideration of HK$120 million, satisfied by payable of HK$7.5 million in cash and issue of convertible notes of face value HK$112.5 million. The acquisition was completed on 10 October 2011. On 30 December 2011, convertible notes with the face value of approximately HK$72.5 million was converted into 1,449,123,800 new shares of the Company in accordance with the agreement.

• (a) 於二零一一年一月二十三日，本集團 與本公司主席兼董事總經理葉先生及 其他三名賣方就收購鴻略集團有限公 司、德隆環球有限公司、德隆製造有 限公司及其附屬公司、德隆國際企業 有限公司、德隆精密有限公司及其附 屬公司，以及東莞德越電子塑膠製品 有限公司全部已發行股本╱註冊資本 訂立一項有條件買賣協議（經於二零 一一年七月二十七日修訂及重列）， 代價為120,000,000港元，透過現金 7,500,000港元，及發行可換股票據面 值112,500,000港元支付。是項收購已 於二零一一年十月十日完成。於二零 一一年十二月三十日，根據協議，面值 約72,500,000港元之可換股票據已轉 換成1,449,123,800股本公司新股份。

• (b) On 4 March 2011, the Company entered into a Performance Incentive Agreement with Atlas in which Mr. Yip is one of the beneficial owners of Atlas. Further details are set out in note 35.

• (b) 於二零一一年三月四日，本公司與 Atlas（葉先生為Atlas之其中一名實益 擁有人）訂立履約獎勵協議。有關進一 步詳情載於附註35。

• (c) On 20 June 2011, the Company entered into an underwriting agreement with Mr. Yip and Kingsway Financial Services Group Limited, pursuant to which Mr. Yip agreed to underwrite the first 896,589,220 Rights Shares (as defined in the circular of the Company dated 12 August 2011(“Circular”) ) not taken by the Qualifying Shareholders (as defined in the Circular) at the underwriting commission at the rate of 2.5% of the aggregate proceeds from the rights issue priced at HK$0.05 per Rights Share. The Company paid HK$1.1 million to Mr. Yip as the underwriting commission upon the completion of the underwriting agreement.

• (c) 於二零一一年六月二十日，本公司與 葉先生及滙富金融服務有限公司訂 立包銷協議，據此，葉先生同意包銷 以每股供股股份0.05港元之合計供股 價之2.5%計算包銷佣金之未獲合資 格股東（定義見該通函）接納之首批 896,589,220股供股股份（定義見本公 司日期為二零一一年八月十二日之通 函（「該通函」））。本公司於包銷協議 完成時向葉先生支付1,100,000港元包 銷佣金。

• (d) Commission paid

• (d) 已付佣金

Related party relationship	Type of transaction
與關連人士關係	交易類型
Titron Industries Limited	Commission paid
德隆製造有限公司	已付佣金

	Transaction amount	Transaction amount
	交易金額
	2011		2010
	HK$’000		HK$’000
	二零一一年		二零一零年
	千港元		千港元
	991		1,516

雋泰控股有限公司 2011 年報

161

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

36. RELATED PARTY TRANSACTIONS (continued)

36. 關連人士交易 （續）

(e) Compensation of key management personnel

(e) 主要管理人員之報酬

The remuneration of directors and other members of key management during the year was as follows:

董事及其他主要管理層成員於年內之 薪酬如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Short-term employee benefits 短期僱員福利 Post-employment benefits 離職福利 Equity compensation benefits 股本報酬福利	14,176	13,618 47 3,528
	45
	–
		17,193
	14,221

37. CONVERTIBLE BONDS/NOTES

37. 可換股債券 ╱ 票據

CONVERTIBLE BONDS/NOTES	37.可換股債券╱票據	37.可換股債券╱票據	37.可換股債券╱票據	37.可換股債券╱票據
	The Group The Company 本集團 本公司 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元
Current 即期 Titron CN (Note b) 德隆可換股票據（附註b） Non-current 非即期 Ugent CB (Note a) Ugent可換股債券（附註a） Titron CN (Note b) 德隆可換股票據（附註b）				– – –
	12,644	–	12,644
	–	181,208	–
	13,852	–	13,852
				–
	26,496	181,208	26,496

• (a) On 6 April 2009, Ugent Holdings Limited (“Ugent”), a whollyowned subsidiary of the Group, issued to an independent third party a convertible bond at a nominal value of HK$177,000,000 (“Ugent CB”). The Ugent CB is denominated in Hong Kong dollars. The Ugent CB entitles the holder to convert it into ordinary shares of Ugent at any time between the date of issue of the Ugent CB and its maturity date on 6 April 2012 at an initial conversion price of HK$41,300 per share, subject to adjustments. If the Ugent CB has not been converted, it would be redeemed on 6 April 2012 at the nominal value. Interest of 12% per annum will be paid semiannually on every 31 March and 30 September.

• (a) 於二零零九年四月六日，本集團之全 資附屬公司 Ugent Holdings Limited

• （「Ugent 」），向一間獨立第三方發行 面值177,000,000港元之可換股債券

• （「Ugent可換股債券」）。Ugent可換股 債券乃以港元列值。Ugent可換股債券賦 予持有人權利於發行Ugent可換股債券 當日至其於二零一二年四月六日之到期 日之任何時間內按每股41,300港元之初 步兌換價（可予調整）將其兌換為Ugent 普通股。倘若Ugent可換股債券未獲兌 換，其將於二零一二年四月六日按面值 贖回。12厘年息將於三月三十一日及九 月三十日每半年支付一次。

AMCO UNITED HOLDING LIMITED 162 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

37. CONVERTIBLE BONDS/NOTES (continued)

• (a) (continued)

Ugent can early redeem the Ugent CB after one calendar year from the issue date at a redemption price equal to the applicable early redemption amount predetermined in the Ugent CB agreements, which is an amount equal to the principal amount of the Ugent CB plus any accrued and unpaid interest. The bondholder can request Ugent to early redeem the Ugent CB at any time upon the occurrence of a change of control in Ugent, at a redemption price equal to the applicable early redemption amount predetermined in the Ugent CB agreements. In the opinion of the directors of the Company, the Group had control over Ugent throughout the period until Ugent CB’s maturity date, and accordingly Ugent CB was classified as a non-current liability at 31 December 2010.

On 18 April 2011, the Initial Subscriber sold the Ugent CB to independent third parties (“Ugent Bondholders”). On 20 June 2011, the Company, Ugent and each of the Ugent Bondholders entered into the Redemption Agreements. The maturity date and the interest rate of the Ugent CB remained unchanged as mentioned above. Pursuant to the Redemption Agreements, Ugent shall give written notice to the Ugent Bondholders to redeem the Ugent CB in whole at 100% of the principal amount plus any accrued and unpaid interest up to 31 August 2011 (the “Redemptions Amount”). The Redemptions Amount shall be satisfied by AMCO United Holding Limited (the “Company”) to allot and issue to the Ugent Bondholders the Redemption Shares, at the agreed conversion rate of HK$0.05/share, credited as fully paid.

37. 可換股債券 ╱ 票據 （續）

• (a) （續） Ugent可於發行日期起計一曆年後按 等於Ugent可換股債券協議預先釐定 之適用提早贖回金額（等於Ugent可換 股債券之本金加上任何應計及未付利 息之金額）之贖回價提早贖回Ugent可 換股債券。而債券持有人可於Ugent控 制權發生變動時任何時間，要求Ugent 按等於Ugent可換股債券協議預先釐 定之適用提早贖回金額之贖回價提早 贖回Ugent可換股債券。本公司董事認 為，本集團可於該期間直至Ugent可換 股債券到期日維持Ugent之控制權， 因此，Ugent可換股債券於二零一零 年十二月三十一日被歸類為非流動負 債。

於二零一一年四月十八日，初步認 購方出售Ugent可換股債券予獨立第 三方（「Ugent債券持有人」）。於二零 一一年六月二十日，本公司、Ugent及 各Ugent債券持有人訂立贖回協議。 如上文所述，Ugent可換股債券之到期 日及利率保持不變。根據贖回協議， Ugent須向Ugent債券持有人發出書面 通知以按本金之100%另加截至二零 一一年八月三十一日止之任何累計及 未支付利息（「贖回金額」）贖回全部 Ugent可換股債券。贖回金額將由雋泰 控股有限公司（「本公司」）向Ugent債 券持有人按協定每股轉換價0.05港元 以配發及發行入賬列作繳足贖回股份 之方式支付。

雋泰控股有限公司 2011 年報

163

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

37. CONVERTIBLE BONDS/NOTES (continued)

37. 可換股債券 ╱ 票據 （續）

(a) (continued)

(a) （續）

The movement of the components of the Ugent CB during the year is set out below:

年內，Ugent可換股債券各部分之變動 載列如下：

	Liability component Embedded conversion option Early redemption option Total HK$’000 HK$’000 HK$’000 HK$’000 負債部分 嵌入式轉換權 提早贖回權 總計 千港元 千港元 千港元 千港元
At 31 December 2009 and 1 January 2010 於二零零九年 十二月三十一日及 二零一零年一月一日 Imputed interest expenses 推算利息開支 Interest paid 已付利息 Interest accrued 應計利息 Loss arising on changes in fair value 公允價值變動產生之虧損 At 31 December 2010 and 1 January 2011 於二零一零年 十二月三十一日及 二零一一年一月一日 Imputed interest expenses 推算利息開支 Accrued interest on Ugent CB recorded in other payable last year 去年於其他應付款項入賬 之Ugent可換股債券之 應計利息 Issue of new shares to settle Ugent CB 償還Ugent可換股債劵時 發行新股份 Gain on extinguishment of financial liabilities by issue of ordinary shares 透過發行普通股抵銷財務 負債之收益 At 31 December 2011 於二零一一年 十二月三十一日	180,652 – (12,457) 168,195 21,796 – – 21,796 (10,620) – – (10,620) (10,620) – – (10,620) – – 12,457 12,457
	181,208 – – 181,208 14,605 – – 14,605 10,620 – – 10,620 (174,353) – – (174,353) (32,080) – – (32,080)
	– – – –

AMCO UNITED HOLDING LIMITED Annual Report 2011

164

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

37. CONVERTIBLE BONDS/NOTES (continued)

37. 可換股債券 ╱ 票據 （續）

• (a) (continued)

• (a) （續）

On 6 October 2011, the condition precedents in the Redemption Agreement were satisified and accordingly the financial liability was derecognised as the obligation specified in the relevant contract was discharged. At the same date, all Ugent Bondholders converted their Ugent CB into ordinary shares of the Company. The Company allotted and issued an aggregate of 4,151,240,001 ordinary shares (“redemption shares”) to Ugent Bondholders. The redemption shares are the consideration paid and are recognised initially and measured at its fair value on the date the financial liability is extinguished. The difference between the converted amount at market price HK$0.042 per share and the outstanding principal and all accrued interest up to 31 August 2011 of approximately HK$32,080,000 was accounted for as a gain on extinguishment of financial liabilities by issue of ordinary shares.

於二零一一年十月六日，贖回協議之 先決條件獲達成，因此，財務負債因 相關合約中所規定之責任獲解除被取 消確認。於相同日期，所有Ugent債券 持有人將全部Ugent可換股債券轉換 為本公司普通股。本公司向Ugent債券 持有人配發及發行合共4,151,240,001 股普通股（「贖回股份」）。贖回股份乃 已付代價並於註銷財務負債當日按公 允價值初步確認及計量。按市場價格 每股0.042港元計算之被轉換金額與 未償還本金額及截至二零一一年八月 三十一日止之所有累計利息之差額約 32,080,000港元乃入賬列作透過發行 普通股抵銷財務負債之收益。

• (b) On 23 January 2011, Energy Best Investments Limited (one of the subsidiary of the Group) and the Vendors entered into the Sales and Purchases Agreement (“S&P”) in relation to the acquisition of the Titron Group for HK$120.0 million with HK$7.5 million to be paid in cash and the balance of HK$112.5 million by way of convertible notes (“Titron CN”). Titron CN could be converted from the date of issue (i.e 10 October 2011) and ending 10 business days prior to the maturity date, which was 31 December 2015.

• (b) 於二零一一年一月二十三日，Energy Best Investments Limited（本集團 其中一間附屬公司）與賣方訂立買 賣協議（「買賣協議」），內容有關以 120,000,000港元收購德隆集團，當中 7,500,000港元將以現金支付而餘款 112,500,000港元以可換股票據（「德 隆可換股票據」）方式支付。德隆可換 股票據可由發行日期（即二零一一年 十月十日）起截至到期日（二零一五年 十二月三十一日）前十個營業日內予 以轉換。

雋泰控股有限公司 2011 年報

165

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

37. CONVERTIBLE BONDS/NOTES (continued)

(b) (continued)

Under the S&P, there was a conversion restriction on HK$40 million of Titron CN, which was to be retained by the Vendors for the purpose of satisfying any claims under the warranties pursuant to the S&P. The Vendors undertook to use all reasonable endeavours to otherwise exercise the conversion rights attaching to the balance of the Titron CN as soon as practicable after the Completion.

Some of the anti-dilution clauses in the Titron CN breached the “fixed for fixed” rule in HKAS 32 and accordingly the Titron CN was classified as a financial liability at fair value through profit or loss.

At the date of issue, the fair value of Titron CN was valued by Ascent Partner Transaction Service Limited, a professional independent valuer at HK$92,295,000. The fair value of the Titron CN was based on the available observable market date. The major inputs used in the models were as follows:

Principal amount (HK$’000)	112,500
Coupon rate	0%
Risk free rate	0.1899%
Market price per share	HK$0.041
(at date of completion)

On 30 December 2011, approximately HK$72,456,000 of Titron CN was converted into 1,449,123,800 shares at the conversion rate of HK$0.05 per the S&P. The market price of the Company’s shares was HK$0.033 per share at that date.

37. 可換股債券 ╱ 票據 （續）

(b) （續）

根據買賣協議，德隆可換股票據須受 轉換限制，當中40,000,000港元之德 隆可換股票據須根據買賣協議就償還 擔保項下之任何申索目的而由賣方保 留。賣方承諾以合理竭盡全力於完成 後在實際可行情況下盡快行使餘下德 隆可換股票據所附帶之轉換權。

若干德隆可換股票據之反攤薄條款 已違反香港會計準則第32號「定額原 則」，故德隆可換股票據已歸類為透過 損益按公允價值列賬之財務負債。

於發行日期，德隆可換股票據之公 允價值由專業獨立估值師行 Ascent Partner Transaction Service Limited估 值為92,295,000港元。德隆可換股票 據之公允價值乃依據不同可觀察市場 日期而釐定。模式中所用主要輸入數 據如下：

本金額（千港元）	112,500
票息率	0%
無風險利率	0.1899%
每股市場價格	0.041港元
（於完成日期）

於二零一一年十二月三十日，德隆可 換股票據之約72,456,000港元已根據 買賣協議按每股0.05港元之轉換率轉 換為1,449,123,800股股份。本公司股 份於該日之市價為每股0.033港元。

AMCO UNITED HOLDING LIMITED 166 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

37. CONVERTIBLE BONDS/NOTES (continued)

(b) (continued)

37. 可換股債券 ╱ 票據 （續）

(b) （續）

於二零一一年十二月三十一日，餘下 德隆可換股票據40,000,000港元乃採 用下列主要輸入值按公允價值重估： 本金額（千港元） 40,000 息票率 0% 無風險利率 0.2520% 每股市價 0.033港元 As at 31 December 2011, the remaining Titron CN of HK$40,000,000 was revalued at fair value using the following major inputs: Principal amount (HK$’000) 40,000 Coupon rate 0% Risk free rate 0.2520% Market price per share HK$0.033 Total HK$’000 總額 千港元	於二零一一年十二月三十一日，餘下 德隆可換股票據40,000,000港元乃採 用下列主要輸入值按公允價值重估： 本金額（千港元） 40,000 息票率 0% 無風險利率 0.2520% 每股市價 0.033港元 As at 31 December 2011, the remaining Titron CN of HK$40,000,000 was revalued at fair value using the following major inputs: Principal amount (HK$’000) 40,000 Coupon rate 0% Risk free rate 0.2520% Market price per share HK$0.033 Total HK$’000 總額 千港元
Fair value of Titron CN at the date of issue 德隆可換股票據於發行日期之公允價值 Converted into ordinary shares 轉換為普通股 Gain on change in fair value 公允價值變動之收益 – at conversion of HK$72,456,000 of Titron CN －於轉換72,456,000港元之 德隆可換股票據時 – as at year end of the remaining Titron CN －年未餘下德隆可換股票據 At 31 December 2011 於二零一一年十二月三十一日	92,295 (47,821) (11,592) (6,386)
	26,496
	Total HK$’000 總額 千港元
Non-current liabilities 非流動負債 Current liabilities 流動負債	13,852 12,644
	26,496

Pursuant to the S&P, the conversion cannot trigger a mandatory offer obligation under Rule 26 of Takeover Code. If the Vendors fully convert the HK$40 million of Titron CN immediately after the expiry of warranties period, the Vendors will trigger a mandatory offer obligation as the Vendors shareholding in the Group will exceed the 30% threshold. The current portion of the Titron CN accordingly represents that amount of the CN which can be converted into ordinary shares without triggering the mandatory offer obligation.

根據買賣協議，該轉換不可觸發收購 守則規則26之強制收購要約責任。倘 賣方於緊隨保證期屆滿後全數轉換 40,000,000港元之德隆可換股票據， 由於賣方於本集團之股權將超過30% 限額，則賣方將觸發一項強制性收購 要約責任。因此，德隆可換股票據即期 部份指不會觸發強制性收購要約責任 的情況下轉換成普通股的可換股票據 數額。

雋泰控股有限公司 2011 年報

167

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

38. COMMITMENTS

(a) Capital Commitments

38. 承擔

(a) 資本承擔

The Group had the following outstanding capital commitments as at 31 December 2011:

於二零一一年十二月三十一日，本集 團之尚未償還資本承擔如下：

	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Contracted but not provided for, in respect of: 涉及以下各項之已訂約但未撥備： – acquisition of property, plant and equipment －購買物業、廠房及設備 – capital injection of a subsidiary －一間附屬公司之注資		– –
	652
	6,800
	7,452	–

(b) Operating leases – lessee (b) 經營租賃－承租人

(b)經營租賃－承租人 Operating leases – lessee	(b)經營租賃－承租人 Operating leases – lessee	(b)經營租賃－承租人 Operating leases – lessee
本集團根據不可撤銷經營租約就租賃 樓宇之未來最低租賃付款總額如下： The Group had total future minimum lease payments under non-cancellable operating leases in respect of leasehold buildings are as follows: The Group 本集團 2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Not later than one year 一年內 Later than one year but not later than five years 一年後至五年內	7,924	4,118 1,450
	11,347
		5,568
	19,271
租約初步為期一至五年，並可選擇續 約及經本集團與各出租人互相協定於 屆滿日期磋商條款。該等租約並不包 括或然租金。 The leases run for an initial period of one to five years, with options to renew the leases and renegotiate the terms at the expiry dates as mutually agreed between the Group and respective lessors. None of the leases include contingent

The leases run for an initial period of one to five years, with options to renew the leases and renegotiate the terms at the expiry dates as mutually agreed between the Group and respective lessors. None of the leases include contingent rentals.

AMCO UNITED HOLDING LIMITED Annual Report 2011

168

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

38. COMMITMENTS (continued)

The Company

The Company did not have any capital or operating lease commitments as at 31 December 2011 (2010: Nil).

38. 承擔 （續）

本公司

於二零一一年十二月三十一日，本公司並 無擁有任何資本或經營租約承擔（二零一 零年：無）。

39. CONTINGENT LIABILITIES

39. 或然負債

The Group had no material contingent liabilities as at 31 December 2011.

於二零一一年十二月三十一日，本集團概 無重大或然負債。

40. NON-CASH TRANSACTION

40. 非現金交易

On 6 October 2011, the Ugent Bondholders converted all Ugent CB amounted to HK$206,433,000 into 4,151,240,001 ordinary shares at the agreed conversion rate of HK$0.05/share (see Note 37(a)).

於二零一一年十月六日，Ugent債券持有 人已按經協定轉換價每股0.05港元將為數 206,433,000港元之所有 Ugent可換股債 券轉換為4,151,240,001股普通股（見附註 37(a) ）。

On 10 October 2011, the Group completed the acquisition of the 100% interest in Titron Group at total fair value consideration of HK$99,795,000 by HK$7,500,000 payable in cash on a date being six months from the completion date and HK$92,295,000 in issuance of convertible notes (see Note 37(b)).

於二零一一年十月十日，本集團已完成透 過於完成日期起計六個月當日應付現金 7,500,000港元及發行92,295,000港元可 換股票據而以總公允價值代價99,795,000 港元收購德隆集團之100%權益（見附註 37(b) ）。

On 30 December 2011, the Vendors of Titron Group converted the principal amount of approximately HK$72,456,000 into 1,449,123,800 ordinary shares at the agreed conversion rate of HK$0.05/share (see Note 37(b)).

於二零一一年十二月三十日，德隆集團之賣 方已按經協定轉換價每股0.05港元將本金 額約72,456,000港元轉換為1,449,123,800 股普通股（見附註37(b) ）。

雋泰控股有限公司 2011 年報

169

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

41. SUMMARY OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES BY CATEGORY

41. 按類別劃分之財務資產及財務 負債概要

The following table shows the carrying amount and fair value of financial assets and liabilities as defined in Note 4.7:

下表列示附註4.7所界定之財務資產及財務 負債之賬面值及公允價值：

	The Group The Company 本集團 本公司 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元	The Group The Company 本集團 本公司 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元	The Group The Company 本集團 本公司 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元	The Group The Company 本集團 本公司 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元
Financial assets: 財務資產： Loans and receivables 貸款及應收款項 Available-for-sale financial assets 可供出售財務資產 Pledged time deposits 已抵押定期存款 Cash and cash equivalents 現金及現金等價物 Financial liabilities: 財務負債： Financial liabilities at fair value through profit or loss of convertible notes 透過可換股票據損益按公 允價值列賬之財務負債 Trade and other payables 貿易及其他應付款項 Bank and other borrowings 銀行及其他借貸 Obligation under finance leases 融資租約承擔 Convertible bonds 可換股債券 Amounts due to subsidiaries 應付附屬公司款項				107,564 – – 4,598
	44,409	41,017	99,771
	1,169	–	–
	3,538	–	–
	49,565	37,897	31,951
				112,162
	98,681	78,914	131,722
				– 13,255 – – – 133,218
	26,496	–	26,496
	66,898	66,897	12,587
	14,646	10,898	–
	811	1,412	–
	–	181,208	–
	–	–	14,822
				146,473
	108,851	260,415	53,905

(a) The fair values of financial assets and financial liabilities are (a) 財務資產及財務負債之公允價值釐定 determined as follows: 如下：

The fair value of financial assets and financial liabilities with standard terms and conditions and traded on active liquid markets are determined with reference to quoted market prices.

附有標準條款及條件及於活躍流通市 場交易之財務資產及財務負債之公允 價值乃參考市場報價釐定。

AMCO UNITED HOLDING LIMITED 170 Annual Report 2011

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

1. SUMMARY OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES BY CATEGORY (continued)

2. 按類別劃分之財務資產及財務 負債概要 （續）

3. (a) (continued)

4. (a) （續）

The fair value of other financial assets and financial liabilities (excluding derivative instruments) are determined in accordance with generally accepted pricing models based on discounted cash flow analysis using prices from observable current market transactions and dealer quotes for similar instruments.

其他財務資產及財務負債（不包括衍 生工具）之公允價值乃按公認定價模 型，根據採用可觀察當前市場交易之 價格進行之折現現金流量分析及類似 工具之交易商報價而釐定。

The fair value of derivative instruments, are calculated using quoted prices. Where such prices are not available, a discounted cash flow analysis is performed using the applicable yield curve for the duration of the instruments for non-optional derivatives, and option pricing models for option derivatives.

衍生工具之公允價值使用市場報價計 算。倘無法獲得有關價格，則會使用適 用收益曲線就非期權衍生工具之期限 進行折現現金流量分析，而對於期權 衍生工具，則使用期權定價模型進行 折現現金流量分析。

The following table provides an analysis of financial instruments carried at fair value by level of fair value hierarchy:

下表提供按公允價值計量之金融工具以公 允價值層級水平進行之分析；

• Level 1: quoted prices (unadjusted) in active markets for identical assets and liabilities;

• － 第一級：同類資產及負債於活躍市場 中之報價（未經調整）；

• Level 2: inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices); and

• － 第二級：除計入第一級之報價外，自資 產或負債可直接（即價格）或間接（即 自價格衍生）觀察之輸入數據；及

• Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

• － 第三級：並非根據可觀察市場數據得 出之有關資產或負債之輸入數據（不 可觀察之輸入數據）。

The level in the fair value hierarchy within which the financial asset or liability is categorised in its entirety is based on the lowest level of input that is significant to the fair value measurement.

財務資產或財務負債整體所應歸入之公允 價值層級水平應根據對公允價值計量具有 重大意義之最低層級輸入數據作出。

雋泰控股有限公司 2011 年報

171

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

41. SUMMARY OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES BY CATEGORY

41. 按類別劃分之財務資產及財務 負債概要 （續）

(continued)

The financial assets and liabilities measured at fair value in the consolidated statement of financial position are grouped into the fair value hierarchy as follows:

於綜合財務狀況表內按公允價值計量之財 務資產及負債分類為公允價值層級如下：

	As at 31 December 2011 於二零一一年十二月三十一日 Level 1 Level 2 Level 3 Total HK$’000 HK$’000 HK$’000 HK$’000 第一級 第二級 第三級 總計 千港元 千港元 千港元 千港元
Available-for-sale financial assets 可供出售財務資產 Convertible notes 可換股票據	1,169 – – 1,169
	– 26,496 – 26,496
	1,169 26,496 – 27,665
	As at 31 December 2010 於二零一零年十二月三十一日 Level 1 Level 2 Level 3 Total HK$’000 HK$’000 HK$’000 HK$’000 第一級 第二級 第三級 總計 千港元 千港元 千港元 千港元
Embedded conversion option of a convertible bond 可換股債券之嵌入式 兌換權 Early redemption option of a convertible bond 可換股債券之提早 贖回權	– – – – – – – –
	– – – –

There have been no transfers between levels 1 and 2 during both years.

於兩年內，第一級及第二級之間並無任何 轉撥。

AMCO UNITED HOLDING LIMITED Annual Report 2011

172

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT

Exposure to credit, liquidity, interest rate and currency risks arises in the normal course of the Group’s business. The Group is also exposed to equity price risk arising from its equity investments in other entities and movements in its own equity share price.

The main risks arising from the Group’s financial instruments in the normal course of the Group’s business are credit risk, liquidity risk, interest rate risk and currency risk.

The Group seeks to minimise the effects of these risks by using derivative financial instruments to hedge these risk exposures. The use of financial derivatives is governed by the Group’s policies approved by the Board of Directors, which provide written principles on foreign exchange risk, interest rate risk, credit risk, the use of financial derivatives and non-derivative financial instruments, and the investment of excess liquidity. The Group does not enter into or trade financial instruments, including derivative financial instruments, for speculative purposes.

These risks are limited by the Group’s financial management policies and practices described below.

(i) Credit risk

The Group’s credit risk is primarily attributable to its trade and other receivables and listed debt investments. Management has a credit policy in place and the exposures to these credit risks are monitored on an ongoing basis.

42. 財務風險管理

承受之信貸、流動資金、利率及貨幣風險乃 於本集團之正常業務過程中產生。本集團 亦承受因其於其他實體之股本投資及其本 身之股價變動而產生之股價風險。

於本集團之正常業務過程中因本集團之金 融工具產生之主要風險為信貸風險、流動 資金風險、利率風險及貨幣風險。

本集團尋求透過採用衍生金融工具對沖面 臨之該等風險而盡量降低風險之影響。使 用金融衍生工具乃受董事會所批准之本集 團政策規管，當中訂明有關外匯風險、利率 風險、信貸風險、使用金融衍生工具及非衍 生金融工具及投資富餘流動資金之書面原 則。本集團並無訂立或交易金融工具（包括 衍生金融工具）以作投機用途。

該等風險乃受本集團之財務管理政策及下 文所載之慣例限制。

(i) 信貸風險

本集團之信貸風險主要歸因於其貿易 及其他應收款項及上市債務投資。管 理層設有既定之信貸政策，而承受之 該等信貸風險乃持續予以監察。

雋泰控股有限公司 2011 年報

173

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT (continued)

(i) Credit risk (continued)

In respect of trade and other receivables, individual credit evaluations are performed on all customers requiring credit over a certain amount. These evaluations focus on the customer’s past history of making payments when due and current ability to pay, and take into account information specific to the customers as well as pertaining to the economic environment in which the customers operate. Trade receivables are due within 30 to 90 days from the date of billing. Normally, the Group does not obtain collateral from customers.

The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. The default risk of the industry and country in which customers operate also has an influence on credit risk but to a lesser extent. At the end of reporting period, the Group has a certain concentration of credit risk as 20% (2010: 67%) and 71% (2010: 84%) of the total trade and other receivables was due from the Group’s largest customer and the five largest customers respectively within the 6 business segments.

Further quantitative disclosures in respect of the Group’s exposure to credit risk arising from trade and other receivables are set out in Note 22.

42. 財務風險管理 （續）

(i) 信貸風險 （續）

就貿易及其他應收款項而言，所有要 求某個信貸金額之客戶均會進行個別 信貸評估。該等評估集中於客戶過往 於到期時還款之記錄，以及現時還款 之能力，並計及客戶特定之賬戶資料 及參考客戶經營所處之經濟環境。應 收貿易款項自發票日期起計30日至90 日內到期。一般而言，本集團不向客戶 收取抵押品。

本集團所面臨之信貸風險主要受各客 戶個別特性所影響。業內客戶之拖欠 風險及客戶經營所在國家亦對信貸風 險有些微影響。於報告期末，本集團 有若干集中信貸風險，於六個業務分 類內，應收本集團最大客戶及五大客 戶之款項分別佔貿易及其他應收款項 總額之20%（二零一零年：67% ）及 71%（二零一零年：84% ）。

有關本集團承受因貿易及其他應收款 項而產生之信貸風險之進一步定量披 露資料載於附註22。

AMCO UNITED HOLDING LIMITED Annual Report 2011

174

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT (continued)

(ii) Liquidity risk

The Group’s policy is to regularly monitor its liquidity requirements and its compliance with lending covenants, to ensure that it maintains sufficient reserves of cash and readily realisable marketable securities and adequate committed lines of funding from major financial institutions to meet its liquidity requirements in the short and longer term.

The following tables show the remaining contractual maturities at the end of the reporting period of the Company’s bank borrowings, based on undiscounted cash flows (including interest payments computed using contractual rates or, if floating, based on rates current at the reporting date) and the earliest date the Company can be required to pay.

Specifically, for bank loans which contain a repayment on demand clause which can be exercised at the bank’s sole discretion, the analysis shows the cash outflow based on the earliest period in which the entity can be required to pay, that is if the lenders were to invoke their unconditional rights to call the loans with immediate effect. The maturity analysis for other bank borrowings is prepared based on the scheduled repayment dates.

42. 財務風險管理 （續）

(ii) 流動資金風險

本集團之政策乃定期監察其流動資金 需求及其遵守放貸契約之情況以確保 其維持充足之現金儲備及易變現可銷 售證券以及自主要財務機構獲得充足 資金承諾以應付其短期及長期流動資 金需求。

下表顯示於報告期末本公司之銀行借 貸之餘下合約到期日，乃根據未折現 現金流量（包括採用合約利率計算之 利息付款或倘為浮動利率，則根據於 報告日期之當前利率計算）及要求本 公司還款之最早日期而得出。

具體而言，就包括可由銀行全權酌情 行使按要求還款之銀行貸款而言，分 析顯示根據要求該實體還款（即放貸 人撤回其無條件權利以催促償還貸款 並即時生效）之最早期間計算之現金 流出。其他銀行借貸之到期日分析乃 根據預定還款日期編製。

雋泰控股有限公司 2011 年報

175

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT (continued)

(ii) Liquidity risk (continued)

The Group

42. 財務風險管理 （續）

(ii) 流動資金風險 （續）

本集團

	As at 31 December 2011 於二零一一年十二月三十一日 Carrying amount Total contractual undiscounted cash flow Within 1 year or on demand More than 1 year but less than 2 years HK$’000 HK$’000 HK$’000 HK$’000 賬面值 合約未折現 現金流量 總額 一年內或 按要求 一年以上 惟少於兩年 千港元 千港元 千港元 千港元
Non-derivative financial liabilities 非衍生財務負債 Trade and other payables 貿易及其他應付款項 Bank and other borrowings 銀行及其他借貸 Obligation under finance leases 融資租約承擔
	66,898 66,898 66,898 –
	14,646 14,646 14,646 –
	811 877 413 464
	82,355 82,421 81,957 464

	As at 31 December 2010 於二零一零年十二月三十一日 Carrying amount Total contractual undiscounted cash flow Within 1 year or on demand More than 1 year but less than 2 years HK$’000 HK$’000 HK$’000 HK$’000 賬面值 合約未折現 現金流量 總額 一年內或 按要求 一年以上 惟少於兩年 千港元 千港元 千港元 千港元
Non-derivative financial liabilities 非衍生財務負債 Trade and other payables 貿易及其他應付款項 Bank and other borrowings 銀行及其他借貸 Convertible bonds 可換股債券 Obligation under finance leases 融資租約承擔	66,897 66,897 66,897 – 10,898 11,555 11,555 – 181,208 208,978 21,240 187,738 1,412 1,575 1,384 191
	260,415 289,005 101,076 187,929

AMCO UNITED HOLDING LIMITED Annual Report 2011

176

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT (continued)

(ii) Liquidity risk (continued)

42. 財務風險管理 （續）

(ii) 流動資金風險 （續）

本公司

The Company	本公司 As at 31 December 2011 於二零一一年十二月三十一日 Carrying amount Total contractual undiscounted cash flow Within one year or on demand HK$’000 HK$’000 HK$’000 賬面值 合約未折現 現金流量總額 一年內或 按要求 千港元 千港元 千港元
Non-derivative financial liabilities 非衍生財務負債 Other payables 其他應付款項 Amount due to subsidiaries 應付附屬公司款項
	12,587 12,587 12,587
	14,822 14,822 14,822
	27,409 27,409 27,409
	As at 31 December 2010 於二零一零年十二月三十一日 Carrying amount Total contractual undiscounted cash flow Within one year or on demand HK$’000 HK$’000 HK$’000 賬面值 合約未折現 現金流量總額 一年內或 按要求 千港元 千港元 千港元
Non-derivative financial liabilities 非衍生財務負債 Other Payables 其他應付款項 Amount due to subsidiaries 應付附屬公司款項	13,255 13,255 13,255 133,218 133,218 133,218
	146,473 146,473 146,473

雋泰控股有限公司 177

2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT (continued)

(iii) Interest rate risk

The Group’s interest rate risk arises primarily from long-term borrowings. Borrowings issued at variable rates and at fixed rates expose the Group to cash flow interest rate risk.

The Group currently does not have an interest rate hedging policy. However, the directors monitor interest rate change exposure and will consider hedging significant interest rate exchange exposure should the need arise.

The interest rates and terms of repayment of the Group’s and the Company’s borrowings are disclosed in note 26 to the financial statements.

Sensitivity analysis

At 31 December 2011, all the Group’s borrowings are fixed rate borrowings, the general increase/decrease in interest rate would have no impact to the Group’s loss for the year and accumulated losses.

At 31 December 2010, it is estimated that a general increase/ decrease of 50 basis points in interest rates, with all other variables held constant, would decrease/increase the Group’s loss for the year and accumulated losses by approximately HK$49,000. Other components of consolidated equity would have no impact in response to the general increase/decrease in interest rates.

(iv) Currency risk

The Group is exposed to currency risk primarily through sales and purchases that are denominated in a currency other than the functional currency of the operations to which they relate. The currencies giving rise to this risk are primarily United States dollars and RMB.

42. 財務風險管理 （續）

(iii) 利率風險

本集團之利率風險主要因長期借貸產 生。按浮動利率及按固定利率獲發之借 貸令本集團承受現金流量利率風險。

本集團目前並無利率對沖政策。然 而，董事監察利率變動風險，並將於有 需要時考慮對沖重大利率變動風險。

本集團及本公司借貸之利率及償還條 款乃披露於財務報表附註26。

敏感度分析

於二零一一年十二月三十一日，本集 團之所有借貸均為固定利率借貸，利 率普遍增加╱減少將不會對本集團之 年內虧損及累計虧損造成影響。

於二零一零年十二月三十一日，估計 利率普遍上調╱下調50個基點，而所 有其他變量維持不變，則本集團之年 度虧損及累計虧損將減少╱增加約 49,000港元。綜合股本之其他部份將 對利率之普遍上調╱下調並無影響。

(iv) 貨幣風險

本集團主要透過與其相關之經營業務 功能貨幣以外之貨幣計值之銷售及購 買而承受貨幣風險。引致此風險之貨 幣主要為美元及人民幣。

AMCO UNITED HOLDING LIMITED Annual Report 2011

178

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT (continued)

(iv) Currency risk (continued)

All the Group’s borrowings are denominated in the functional currency of the entity taking out the loan or, in the case of group entities whose functional currency is Hong Kong dollars, in either Hong Kong dollars or United States dollars. Given this, management does not expect that there will be any significant currency risk associated with the Group’s borrowings.

42. 財務風險管理 （續）

(iv) 貨幣風險 （續）

所有本集團之借貸乃以獲取貸款之實 體之功能貨幣計值，或倘集團實體之 功能貨幣為港元，則以港元或美元計 值。有鑑於此，管理層並不預期與本集 團有關之借貸有任何重大貨幣風險。

	US$ RMB 美元 人民幣 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元	US$ RMB 美元 人民幣 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元	US$ RMB 美元 人民幣 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元	US$ RMB 美元 人民幣 2011 2010 2011 2010 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零一一年 二零一零年 千港元 千港元 千港元 千港元
Trade and other receivables 貿易及其他應收款項 Refundable deposit paid for acquisition of mining rights 已支付收購採礦權之 可退回按金 Cash and cash equivalents 現金及現金等價物 Trade and other payables 貿易及其他應付款項 Bank and other borrowings 銀行及其他借貸 Overall net exposure 整體承擔風險淨額	26,877	12,909	6,972	2,252 – 1,254 (10,504) (1,755)
	–	23,400	–
	3,379	13,213	2,926
	(6,797)	(11,817)	(18,972)
	(5,603)	(3,861)	–
				(8,753)
	17,856	33,844	(9,074)

雋泰控股有限公司 179 2011 年報

Notes to the Consolidated Financial Statements 綜合財務報表附註

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT (continued)

(iv) Currency risk (continued)

Sensitivity analysis

42. 財務風險管理 （續）

(iv) 貨幣風險 （續） 敏感度分析

The following table indicates the approximate change in the Group’s loss for the year (and accumulated losses) and other components of consolidated equity in response to reasonably possible changes in the foreign exchange rates to which the Group has significant exposure at the end of reporting period. The sensitivity analysis includes balances between Group companies where the denomination of the balances is in a currency other than the functional currencies of the lender or the borrower. A positive number below indicates an increase in profit/(loss) and other equity where the HKD strengthens against the relevant currency. For a weakening of the HKD against the relevant currency, there would be an equal and opposite impact on the profit/(loss) and other equity, and the balances below would be negative.

下表顯示本集團之年度虧損（及累計 虧損）及綜合權益內其他部份之概約 變動，以反映於報告期末本集團承受 重大風險之外匯匯率之合理可能變 動。敏感度分析包括本集團各公司間 之結餘，而該等結餘乃以放貸人或借 款人之功能貨幣以外之貸幣計值。以 下正數顯示在港元對相關貨幣升值之 情況下，溢利╱（虧損）及其他權益之 增加。就港元對相關貨幣貶值而言，則 將對溢利╱（虧損）及其他權益產生相 等之相反影響，而以下結餘為負數。

	2011 二零一一年 Increase in foreign exchange rates Effect on loss for the year and accumulated losses Effect on other components of equity HK$’000 HK$’000 外匯匯率增加 年內虧損及 其他權益 累計虧損之影響 部份之影響 千港元 千港元
RMB 人民幣 US$ 美元	5% 454 –
	5% (893) –
	2010 二零一零年 Increase in foreign exchange rates Effect on loss for the year and accumulated losses Effect on other components of equity HK$’000 HK$’000 外匯匯率增加 年內虧損及 其他權益 累計虧損之影響 部份之影響 千港元 千港元
RMB 人民幣 US$ 美元	5% 438 – 5% (1,692) –

AMCO UNITED HOLDING LIMITED Annual Report 2011

180

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

42. FINANCIAL RISK MANAGEMENT (continued)

(iv) Currency risk (continued)

Sensitivity analysis (continued)

The sensitivity analysis has been determined assuming that the change in foreign exchange rates had occurred at the end of the reporting period and had been applied to each of the group entities; exposure to currency risk for both derivative and non-derivative financial instruments in existence at that date, and that all other variables, in particular interest rates, remain constant.

The stated changes represent management’s assessment of reasonably possible changes in foreign exchange rates over the period until the next annual reporting date. In this respect, it is assumed that the pegged rate between the Hong Kong dollar and the United States dollar would be materially unaffected by any changes in movement in value of the United States dollar against other currencies. Results of the analysis as presented in the above table represent an aggregation of the effects on each of the Group entities’ loss for the year and equity measured in the respective functional currencies, translated into Hong Kong dollars at the exchange rate ruling at the end of reporting period for presentation purposes. The analysis is performed on the same basis for 2010.

43. CAPITAL RISK MANAGEMENT

The Group’s objective when managing capital is to safeguard the Group’s ability to continue as a going concern, so that it can continue to provide returns for shareholders and benefits for other stakeholders.

The Group actively and regularly reviews and manages its capital structure to maintain a balance between the higher shareholder returns that might be possible with higher levels of borrowings and the advantages and security afforded by a sound capital position, and makes adjustments to the capital structure in light of changes in economic conditions.

42. 財務風險管理 （續）

(iv) 貨幣風險 （續）

敏感度分析 （續）

敏感度分析乃假定外匯匯率變動於報 告期末發生而釐定，並已應用至各集 團實體；承受於該日存在之衍生及非 衍生金融工具之貨幣風險，而所有其 他變量於特定利率方面維持不變。

上述之變動代表管理層對直至下一個 年度呈報日止期間之外匯匯率合理可 能變動之評估。就此而言，現假定港 元與美元之聯繫匯率將不會因美元兌 其他貨幣的價值之任何變動而受到影 響。上表所列示分析之結果代表對本 集團各實體按各種功能貨幣計算並按 報告期末之匯率換算為港元以供呈列 之用的年度虧損及權益之影響總額。 該分析乃以二零一零年之相同基準進 行。

43. 資本風險管理

本集團管理資本主要旨在保障本集團之持 續經營能力，從而能夠繼續為股東提供回 報並為其他利益相關者帶來利益。

本集團積極及定期檢討及管理其資本架 構，藉以在較高借貸水平可能帶來之較高 股東回報與取得充裕資金狀況所帶來之裨 益及保障之間維持平衡，並就經濟環境之 轉變對資本架構進行調整。

雋泰控股有限公司 2011 年報

181

For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

Notes to the Consolidated Financial Statements 綜合財務報表附註

43. CAPITAL RISK MANAGEMENT (continued)

43. 資本風險管理 （續）

The Group monitors its capital structure on the basis of a net debt-to-adjusted capital ratio. For this purpose the Group defines net debts as total debt which includes trade and other payables, bank and other borrowings, obligations under finance leases and convertible bonds/notes disclosed in Notes 25, 26, 27 and 37 respectively, less cash and cash equivalents. Adjusted capital comprises all components of share capital and reserves as disclosed in Notes 29 and 30 respectively.

本集團按照債務淨額對經調整資本比率之 基準監察其資本架構。為此，本集團將債務 淨額界定為債務總額，包括貿易及其他應付 款項、銀行及其他借貸、融資租約承擔及可 換股債券╱票據（分別於附註25、26、27及 37內披露），減現金及現金等價物。經調整 資本包括股本之所有部份及儲備（分別於附 註29及30內披露）。

	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元	2011 2010 HK$’000 HK$’000 二零一一年 二零一零年 千港元 千港元
Current liabilities 流動負債 Trade and other payables 貿易及其他應付款項 Bank and other borrowings 銀行及其他借貸 Obligation under finance leases 融資租約承擔 Convertible notes 可換股票據 Non-current liabilities 非流動負債 Convertible bonds 可換股債券 Convertible notes 可換股票據 Obligation under finance leases 融資租約承擔 Total debt 債務總額 Less: Cash and cash equivalents 減：現金及現金等價物 Net debt 債務淨額 Adjusted capital 已調整資本 Net debt-to-adjusted capital ratio 債務淨額對經調整資本比率		66,897 10,898 1,228 –
	66,878
	14,646
	387
	12,644
		79,023
	94,555
		181,208 – 184
	–
	13,852
	424
		181,392
	14,276
		260,415 37,897
	108,831
	49,565
		222,518
	59,266
		(132,158)
	81,134
		(168%)
	73%

AMCO UNITED HOLDING LIMITED Annual Report 2011

182

Notes to the Consolidated Financial Statements 綜合財務報表附註 For the year ended 31 December 2011 截至二零一一年十二月三十一日止年度

44. EVENT AFTER THE REPORTING DATE

After the year end date, for the purpose of refreshing the Company’s corporate identity and reflecting the new development focus of the Group, the Company has changed its name to “AMCO United Holding Limited”「雋泰控股有限公司」(for identification purposes) from “Guojin Resources Holdings Limited”「國金資源控股 有限公司」(for identification purposes) which has become effective on 20 February 2012. The registration of the new English name of the Company in Hong Kong under Part XI of the Companies Ordinance took effect from 13 March 2012.

45. APPROVAL OF FINANCIAL STATEMENTS

The financial statements were approved and authorised for issue by the Board of Directors on 28 March 2012.

44. 報告期後事項

於年結日後，為重塑本公司之企業形象 及反映本集團新的發展重心，本公司已 將其名稱由“Guojin Resources Holdings Limited”（「國金資源控股有限公司」（僅供 識別之用））更改為“AMCO United Holding Limited”（「雋泰控股有限公司」（僅供識 別之用）），有關更改已於二零一二年二月 二十日生效。本公司之新英文名稱於香港 根據公司條例第XI部之註冊已自二零一二 年三月十三日起生效。

45. 批核財務報表

財務報表已於二零一二年三月二十八日獲 董事會批准及授權刊發。

雋泰控股有限公司 183 2011 年報

Financial Summary 財務概要

1. RESULTS

1. 業績

1. RESULTS	1.業績	1.業績
	For the year ended 31 December 截至十二月三十一日止年度
	2011 2010 2009 2008 2007 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 (Re-presented) 二零一一年 二零一零年 二零零九年 二零零八年 二零零七年 千港元 千港元 千港元 千港元 千港元 （經重列）
Turnover 營業額 Profit/(loss) before taxation 稅前溢利╱（虧損） Income tax 所得稅 Loss for the year from discontinued operations 已終止經營業務 之年度虧損 (Loss)/profit for the year 本年度（虧損）╱溢利 Non-controlling interests 非控股權益 (Loss)/profit for the year attributable to owners of the Company 本公司擁有人 應佔本年度 （虧損）╱溢利	117,561	80,183 221,394 455,531 418,159
		(108,583) (276,104) (151,959) 35,521 (554) (1,933) (7,828) (2,045) (274,774) – – –
	8,200
	(8,410)
	(81,276)
		(383,911) (278,037) (159,787) 33,476 543 34 – –
	(81,486)
	976
		(383,368) (278,003) (159,787) 33,476
	(80,510)
2. ASSETS AND LIABILITIES	2.資產及負債

	At 31 December 於十二月三十一日	At 31 December 於十二月三十一日
	2011 2010 2009 2008 2007 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 二零一一年 二零一零年 二零零九年 二零零八年 二零零七年 千港元 千港元 千港元 千港元 千港元
Assets 資產 Property, plant and equipment 物業、廠房及設備 Goodwill 商譽 Other assets 其他資產 Total assets 資產總額 Liabilities 負債 Current liabilities 流動負債 Non-current liabilities 非流動負債 Total liabilities 負債總額 Total assets less total liabilities 資產總額減 負債總額 Non-controlling interests 非控股權益 Equity/(capital deficiency) attributable to owners of the Company 本公司擁有人應佔 股權╱（資本虧絀）		23,395 71,726 63,740 113,225 – – – 39,545 118,161 320,057 525,172 531,640
	22,047
	67,362
	113,381
		141,556 391,783 588,912 684,410
	202,790
		89,715 161,728 374,126 218,148 183,999 244,959 36,334 129,414
	106,369
	15,287
		273,714 406,687 410,460 347,562
	121,656
		(132,158) (14,904) 178,452 336,848 543 – – –
	81,134
	1,519
		(131,615) (14,904) 178,452 336,848
	82,653

AMCO UNITED HOLDING LIMITED Annual Report 2011

184

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