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ISP Holdings Limited Interim / Quarterly Report 2019
50536_rns_2019-09-13_b2dcd936-9e5d-4aa4-9f40-598bf979c23d.pdf
Interim / Quarterly Report
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Contents 目錄
| 2 | Management Discussion and Analysis 管理層討論及分析 |
|---|---|
| 18 | Report on Review of Interim Condensed Consolidated Financial Statements 中期簡明綜合財務報表的審閱報告 |
| 20 | Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 簡明綜合損益及其他全面收益表 |
| 21 | Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表 |
| 22 | Condensed Consolidated Statement of Changes in Equity 簡明綜合權益變動表 |
| 23 | Condensed Consolidated Statement of Cash Flows 簡明綜合現金流量表 |
| 24 | Notes to the Interim Condensed Consolidated Financial Statements 中期簡明綜合財務報表附註 |
| 47 | Other Information |
- 其他資料
- Corporate Information 52 公司資料
The board (the "Board") of directors (the "Directors") of Synergis Holdings Limited (the "Company" or "Synergis") is pleased to announce the unaudited interim results of the Company and its subsidiaries (collectively, the "Group") for the six months ended 30 June 2019 (the "Reporting Period").
昇捷控股有限公司(「本公司」或「昇捷」)之董事(「董 事」)會(「董事會」)欣然公佈本公司及其附屬公司(統 稱「本集團」)截至2019年6月30日止六個月(「報告期 間」)之未經審核中期業績。
FINANCIAL OVERVIEW
| Six months ended 30 June 截至6月30日止六個月 |
Change 變動 |
|||||
|---|---|---|---|---|---|---|
| 2019 二零一九年 |
2018 二零一八年 |
Amount 金額 |
% 百分比 |
|||
| Revenue | HK\$' million | |||||
| 收益 | 港幣百萬元 | 737.0 | 740.3 | (3.3) | ↓0.4% | |
| Gross profit | HK\$' million | |||||
| 毛利 | 港幣百萬元 | 77.1 | 75.3 | 1.8 | ↑2.4% | |
| Gross profit margin | ||||||
| 毛利率 | 10.5% | 10.2% | – | ↑0.3% | ||
| Operating expenses | HK\$' million | |||||
| 經營開支 | 港幣百萬元 | (51.6) | (71.0) | 19.4 | ↓27.3% | |
| Operating profit before exceptional items | HK\$' million | |||||
| 除特殊項目前經營溢利 | 港幣百萬元 | 25.5 | 4.3 | 21.2 | ↑493.0% | |
| EBITDA | HK\$' million | |||||
| 除息稅、折舊及攤銷前盈利 | 港幣百萬元 | 32.5 | 8.5 | 24.0 | ↑282.4% | |
| Profit attributable to shareholders | HK\$' million | |||||
| 股東應佔溢利 | 港幣百萬元 | 20.5 | 0.4 | 20.1 | ↑5,025.0% | |
| Basic earnings per share | HK cents | |||||
| 每股基本盈利 | 港幣仙 | 4.8 | 0.1 | 4.7 | ↑4,700.0% |
財務概覽
The Group reported consolidated revenue of approximately HK\$737.0 million and gross profit of approximately HK\$77.1 million for the Reporting Period, which were very similar with the six months ended 30 June 2018 (the "Corresponding Period"). In spite of keen competition and rising cost, the management team had successfully improved gross profit margin to 10.5%, 0.3% higher than that of the Corresponding Period. Following a series of appropriate and successful cost control measures imposed during the Reporting Period, the operating expenses have been reduced by 27.3% to approximately HK\$51.6 million. As a result of that the operating profit before exceptional items has been increased by 493.0% to HK\$25.5 million. Furthermore, since lesser amounts of exceptional items to be taken in and the operating efficiency has been improved in the Reporting Period, the Group achieved a significant increase in profit attributable to shareholders of approximately HK\$20.5 million as compared to approximately HK\$0.4 million recorded for the Corresponding Period. Over two-thirds of net profit contribution (with allocated corporate overhead) was derived from the property and facility management (the "PFM") business and ancillary business (the "Ancillary Business") (collectively, the "PFM Business"). Earnings per share was 4.8 HK cents (2018: 0.1 HK cents).
Reference is made to the annual report of the Company for the year ended 31 December 2018. In view that the financial position of Hsin Chong Group Holdings Limited ("Hsin Chong" and together with its subsidiaries "Hsin Chong Group") continued to worsen during the past few years, the Group had made a provision of amounts including contract assets and receivables of approximately HK\$140.0 million from 2016 to 2018. The majority of which is mainly related to several contracts of interiors and special projects business (the "ISP Business") with Hsin Chong. The management considered that there are no further material balances with Hsin Chong Group. The Company delivered a petition (the "Petition") to the Court of First Instance of High Court of Hong Kong (the "High Court") against Hsin Chong on 18 January 2019 that Hsin Chong be wound up by the High Court so as to recover the outstanding receivables under the second settlement agreement dated 1 June 2018 (the "2018 Settlement Agreement") in the amount of approximately HK\$79.0 million including interest due from Hsin Chong Group.
於報告期間,本集團錄得綜合收益約港幣737,000,000 元及毛利約港幣77,100,000元,與截至2018年6月30 日止六個月(「同期」)非常接近。雖然競爭激烈及成 本上升,管理團隊成功提高毛利率至10.5%,較同期 提高0.3%。於報告期間實施一連串適當及成功的成本 控制措施後,經營開支減少27.3%至約港幣51,600,000 元。因此,除特殊項目前經營溢利增加493.0%至港 幣25,500,000元。此外,由於報告期間計及特殊項目 金額較少及經營效率有所改善,本集團錄得股東應 佔溢利與同期港幣400,000元比較大幅增加至約港幣 20,500,000元。超過三分之二的淨利潤(扣除分攤行政 費用)來自物業及設施管理(「物業及設施管理」)業務 及輔助業務(「輔助業務」)(統稱為「物業及設施管理 業務」)。每股盈利為港幣4.8仙(2018年:港幣0.1仙)。
茲提述本公司截至2018年12月31日止年度的年報。 由於新昌集團控股有限公司(「新昌」,連同其附屬公 司統稱「新昌集團」)的財務狀況於過去數年持續下 滑,本集團於2016年至2018年期間就合約資產及應 收賬款計提撥備約港幣140,000,000元。其中大部分涉 及室內裝飾及特殊項目業務(「室內裝飾及特殊項目 業務」)與新昌的多個合約。管理層認為再沒有與新 昌集團重大結餘。本公司於2019年1月18日向香港 高等法院原訟法庭(「高等法院」)送達針對新昌的呈 請(「呈請」),要求高等法院對新昌作出清盤,以收回 日期為2018年6月1日第二份還款協議(「2018年還款 協議」)項下的尚未償還應收賬款約港幣79,000,000元 (包括新昌集團結欠的利息)。
Given that no legal proceedings may be initiated by subsidiaries of the Group against Hsin Chong without leave of the Official Receiver's Office after commencement of the Petition, the provision is made by the Group up to the sum of HK\$140.0 million above-mentioned, which mainly included net receivables under 2018 Settlement Agreement and the remaining balances of contract assets and receivables with Hsin Chong after the 2018 Settlement Agreement had been signed. Taking into account that the claim by the subsidiaries of the Group against Hsin Chong is estimated to be around HK\$66.4 million, which shall in due course be proved by way of proof of debt after the winding order is granted. Meanwhile, the hearing for the Petition has been further adjourned to 2 December 2019 pending progress of the winding up petition in its place of incorporation in Bermuda. The Company has sought legal advice as to actions it may take to protect its rights, and will make further announcements as and when appropriate.
BUSINESS REVIEW AND PROSPECTS Business Overview
PFM Business of the Group remained stable in revenue and profits, and continued to maintain its solid market position whilst ISP Business has contributed over half of the Group's revenue.
之附屬公司不得對新昌提出續後法律訴訟,本集團 就上文所述計提撥備至港幣140,000,000元,其中主要 包括2018年還款協議項下的應收賬款淨額及簽署 2018年還款協議後與新昌的餘下的合約資產及應收 賬款之結餘。經計及附屬公司對新昌的申索估計尚 有為約港幣66,400,000元,將於授出清盤令後適時以 債權證明表證明。同時,呈請的聆訊已進一步延後至 2019年12月2日,等待在百慕達註冊成立地的清盤呈 請申請之進展。本公司已就其可採取的行動尋求法 律意見,以保護其權利,並將於適當時候刊發進一步 公告。
由於呈請開始後,如未經破產管理署同意下,本集團
業務回顧及前景 業務概覽
本集團之物業及設施管理業務之收益及溢利保持穩 定並繼續保持其堅固市場地位,而室內裝飾及特殊 項目業務則佔本集團收益逾半。
Revenue 收益 Gross Prot 毛利
管理層討論及分析
- The Group saw the best half year results since 2016 in terms of profit attributable to shareholders of approximately HK\$20.5 million in this Reporting Period.
- The revenue of PFM Business Hong Kong recorded approximately HK\$361.5 million which was 11.9% above that of the Corresponding Period (2018: HK\$323.2 million).
- The gross profit of PFM Business Hong Kong recorded approximately HK\$46.2 million, representing an increase of 15.2% over that of the Corresponding Period (2018: HK\$40.1 million).
- Because one of key contracts expired last year, the revenue and gross profit of PFM Business — China reduced substantially to approximately HK\$4.6 million (2018: HK\$23.4 million) and approximately HK\$3.0 million (2018: HK\$6.0 million) respectively as compared to those of the Corresponding Period.
- Our Ancillary Business recorded a substantial growth with an increase of revenue by 26.3% to approximately HK\$65.3 million (2018: HK\$51.7 million) compared to that of the Corresponding Period and a huge jump in operating profit to approximately HK\$5.8 million (2018: HK\$0.2 million).
- Due to the completion of several key contracts and fewer new contracts with substantial revenue contributions of ISP Business, the revenue and gross profit slightly reduced by 5.8% and 4.8% to approximately HK\$370.9 million (2018: HK\$393.7 million) and HK\$27.9 million respectively (2018: HK\$29.3 million) as compared with the Corresponding Period.
The operating results of PFM and ISP Businesses in the following sections excluded the exceptional items, which are the impairment of receivables from credit loss and the recovery of doubtful debts, and also immaterial to the results in the Reporting Period.
- 本集團於本報告期間錄得自2016年以來之最佳 半年業績,股東應佔溢利約港幣20,500,000元。
- 物業及設施管理業務 香港所錄得收益約港 幣361,500,000元,較同期高於11.9%(2018年: 港幣323,200,000元)。
- 物業及設施管理業務 香港所錄得毛利約港 幣46,200,000元, 較 同 期 上 升15.2%(2018年: 港幣40,100,000元)。
- 由於去年其中一份主要合約屆滿,故物業及設 施管理業務 — 中國所錄得收益及毛利分別較 同期大幅減少至約港幣4,600,000元(2018年: 港 幣23,400,000元)及 約 港 幣3,000,000元(2018 年:港幣6,000,000元)。
- 輔助業務錄得收益較同期大幅增加26.3%至約 港幣65,300,000元(2018年:港幣51,700,000元), 而經營溢利也大幅增至約港幣5,800,000元(2018 年:港幣200,000元)。
- 由於室內裝飾及特殊項目業務若干主要合約完 工及可帶來重大收益的新合約減少,收益及毛 利 分 別 較 同 期 略 減 少5.8%及4.8%至 約 港 幣 370,900,000元(2018年:港幣393,700,000元)及 約 港 幣27,900,000元(2018年: 港 幣29,300,000 元)。
以下各節的物業及設施管理業務和室內裝飾及特殊 項目業務的經營業績,並不包括特殊項目,即是由信 貸虧損的應收賬款之減值及收回壞賬,亦於報告期 間均屬不重大。
管理層討論及分析
Six months ended 30 June
截至6月30日止六個月
| Revenue 收益 |
Operating results before exceptional items 除特殊項目前經營業績 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2019 | 2018 | Change | 2019 | 2018 | Change | |||||
| HK\$' million | 二零一九年 二零一八年 | 變動 Amount |
% | 二零一九年 二零一八年 | 變動 Amount |
% | ||||
| 港幣百萬元 | 金額 | 百分比 | 金額 | 百分比 | ||||||
| PFM | 物業及設施管理 | |||||||||
| — Hong Kong | — 香港 | 296.2 | 271.5 | 24.7 | ↑9.1% | 14.0 | 8.2 | 5.8 | ↑70.7% | |
| Ancillary Business | 輔助業務 | |||||||||
| — Hong Kong | — 香港 | 65.3 | 51.7 | 13.6 | ↑26.3% | 5.8 | 0.2 | 5.6 | ↑2,800.0% | |
| PFM Business | 物業及設施管理 | |||||||||
| — Hong Kong | 業務 — 香港 | |||||||||
| Sub-total | 小計 | 361.5 | 323.2 | 38.3 | ↑11.9% | 19.8 | 8.4 | 11.4 | ↑135.7% | |
| PFM — China | 物業及設施管理 | |||||||||
| — 中國 | 4.6 | 23.4 | (18.8) | ↓80.3% | 0.2 | (2.4) | 2.6 | ↑108.3% | ||
| PFM Business | 物業及設施 | |||||||||
| Sub-total | 管理業務小計 | 366.1 | 346.6 | 19.5 | ↑5.6% | 20.0 | 6.0 | 14.0 | ↑233.3% | |
| ISP Business | 室內裝飾及 | |||||||||
| 特殊項目業務 | 370.9 | 393.7 | (22.8) | ↓5.8% | 9.9 | 3.6 | 6.3 | ↑175.0% | ||
| Corporate Overheads 行政費用 | – | – | – | – | (4.4) | (5.3) | 0.9 | ↓17.0% | ||
| Total | 總計 | 737.0 | 740.3 | (3.3) | ↓0.4% | 25.5 | 4.3 | 21.2 | ↑493.0% |
When comparing with the interim results in the Corresponding Period, the operating results have been improved substantially. The operating profit saw a remarkable increase from approximately HK\$4.3 million to approximately HK\$25.5 million in the Reporting Period, thanks to our extensive management expertise and quality professional management practice, coupled with innovation and technology. Besides, both the PFM and ISP Businesses have adopted a more cost conscious approach in monitoring the operating expenditure and the cost had been reduced successfully by approximately 27.3% after improved operating efficiency.
與同期的中期業績相比,經營業績大幅改善。於報告 期間,經營溢利由約港幣4,300,000元顯著增加至約港 幣25,500,000元,此乃由於我們豐富的管理知識及優 質專業管理模式,再配合創意科技的成果。此外,物 業及設施管理業務和室內裝飾及特殊項目業務於監 察經營開支時更具有控制成本意識,並於改善經營 效率後成功減省成本約27.3%。
管理層討論及分析
Property and Facility Management Business
Property and Facility Management
With our dazzling performance on PFM over more than 40 years, Synergis has established a leading position in the market. As at 30 June 2019, PFM business maintained a stable performance and managed 330 projects about 80,000 residential units, covering around 7 million square metres of residential, commercial and industrial facilities in Hong Kong and China. We are capable of sustaining a broad and diversified portfolio with a wide spectrum of clients including government, corporate clients, public institutions and private clients. The scope of service covers government departments, large-scale public facilities, transportation systems, airport cargo terminals, education institutions, hospitals, commercial and industrial properties, public housing estate, private housing and car parks, etc.
物業及設施管理業務 物業及設施管理
憑藉我們40多年的物業及設施管理卓越表現,昇捷 已於市場上建立領導地位。截至2019年6月30日,物 業及設施管理業務維持穩定的表現,管理330個項目 約80,000個住宅單位,覆蓋大約7,000,000平方米位於 香港及中國的住宅、商業及工業設施。我們能維持客 戶類別廣泛豐富的多元化組合,包括政府、企業客 戶、公共機構至私人客戶。服務範圍涵蓋政府部門、 大規模公共設施、運輸系統、機場貨運站、教育機 構、醫院、工商物業、公共房屋、私人房屋及停車場 等。
| Operating Profit 經營溢利 |
1H2018 2018年上半年 |
2H2018 2018年下半年 |
1H2019 2019年上半年 |
|
|---|---|---|---|---|
| Facility Management | HK\$' million | |||
| 設施管理 | 港幣百萬元 | 2.8 | 4.9 | 2.3 |
| Property Management — Hong Kong | HK\$' million | |||
| 物業管理 — 香港 | 港幣百萬元 | 5.4 | 13.0 | 11.7 |
| Property Management — China | HK\$' million | |||
| 物業管理 — 中國 | 港幣百萬元 | (2.4) | (6.2) | 0.2 |
| Ancillary Business | HK\$' million | |||
| 輔助業務 | 港幣百萬元 | 0.2 | 4.7 | 5.8 |
| Total | HK\$' million | |||
| 總計 | 港幣百萬元 | 6.0 | 16.4 | 20.0 |
- Since the second half of 2018, the Group has seen a steady growth of PFM Business with satisfactory contribution.
- Substantial increase in operating profit contribution (HK\$20.0 million) for the Reporting Period compared with the Corresponding Period (HK\$6.0 million) and second half of 2018 (HK\$16.4 million), was mainly due to the improvement in the operating efficiency and implementation of successful cost control measures.
-
Since the operating profit contribution in the Reporting Period achieved around 90% of full year operating profit contribution of 2018 (HK\$22.4 million), the management is confident of delivering much better performance in 2019 than we did in 2018.
-
自2018年下半年起,本集團物業及設施管理業 務錄得穩定增長,更帶來可觀貢獻。
- 報告期間之經營溢利貢獻(港幣20,000,000元) 較同期(港幣6,000,000元)及2018年下半年(港 幣16,400,000元)大幅增加,主要由於經營效率 改善及成功實施成本控制措施。
- 由於報告期間經營溢利貢獻已達致2018年全年 經營溢利貢獻約90%(港幣22,400,000元),管理 層有信心於2019年的表現比2018年更出色。
管理層討論及分析
* with allocated corporate overhead * 扣除分攤行政費用
In the first half of 2019, the PFM business has maintained a stable revenue and achieved remarkable growth of 200.0% in net profits with allocated corporate overhead compared to that of the Corresponding Period after the team are making unremitting efforts from mid of 2018. The profit has increased over triple from HK\$5.2 million of the Corresponding Period to HK\$15.6 million of this Reporting Period.
Hong Kong:
With our rich management experience, exceptional talents and leadingedge innovative technology, we are capable of providing the most appropriate "one-stop-shop" solution to our clients and earning their trust. As at the date of this report, the Group has secured 20 new key contracts ranging from one-year to three-year project period with a total contract sum of approximately HK\$280 million.
In the first half of 2019, our property management team is continuing to expand our business in the management of prestige residential properties and won some successful bids in Mid-levels including Wisdom Court, Conduit Tower and Elegant Garden. Together with numerous new wins at various prime locations in both Hong Kong Island and Kowloon that we were awarded from last year, we have already achieved phenomenal results in the luxury property management portfolio. The awarded property management contracts of these elegant residences include:
Boland Court Phase I and II, Braemar Hill Mansions, Grenville House, Mirror Marina, Conduit Tower, Robinson Mansion, Wisdom Court, Elegant Garden, Grosse Pointe Villa, Kent Mansion, Mandarin Villa, etc.
於2019年上半年,物業及設施管理業務收益維持穩 定。自2018年中起我們團隊不懈的努力後,淨利潤 (扣除分攤行政費用)較去年同期達致200.0%的顯著 增長。該淨利潤由去年同期的港幣5,200,000元增加超 過三倍至本報告期間的港幣15,600,000元。
香港:
憑藉豐富管理經驗、優秀人才及領先創新技術,我們 能夠為客戶提供最適合的「一站式」解決方案並取得 彼等的信任。截至本報告日期,本集團已獲得20份 一 年 至 三 年 期 的 主 要 新 合 約, 合 約 總 額 約 港 幣 280,000,000元。
於2019年上半年,物業管理團隊繼續拓展豪宅物業 管理業務,並成功投得部份半山的招標項目,包括慧 苑、君德閣及美景台。連同我們去年獲得多個位於香 港島及九龍優質地段的招標項目,我們已達成豪宅 管理組合的輝煌業績。該等已獲授豪宅物業的管理 合約包括:
寶能閣1及2期、賽西湖大廈、嘉慧園、鑒波 樓、君德閣、羅便臣大廈、慧苑、美景台、 Grosse Pointe Villa、康德大廈、文華新邨等。
管理層討論及分析
We were also awarded a new security services contract with Television Broadcasts Limited ("TVB") in Tseung Kwan O during the Reporting Period for our non-residential portfolio. We expect to explore more business opportunities with TVB in the coming future.
Subsequent to the Reporting Period, the Group has been awarded three 3-year new contracts with a substantial total contract sum of approximately HK\$250 million. The three new contracts are as follows and shall commence in September and October respectively:
- Property Management Support Services ("PMSS") for Shopping Centres, Car Parks & Cooked-Food Stalls (Tin Shui Wai & Tuen Mun)
- PMSS for Shopping Centres, Car Parks & Cooked-Food Stalls (Kowloon Central, Sham Shui Po, Homantin & Tsz Wan Shan)
- Provision of Term Concierge Personnel for Elements
The contracts for provision of PMSS have been awarded by The Link Asset Management Limited ("The Link"). Covering about 50 shopping centres, these new contracts shall make our business portfolio leap to a new milestone remarkably. Besides, the contract for provision of term concierge personnel for Elements, under MTR Corporation Limited ("MTR"), has extended our business portfolio to grade A shopping mall. Elements is a renowned mall covering luxury brands, delicacies and entertainment with top shopping experience. We will be managing a customer service team and a club and membership management team to provide excellent services to the customers in Elements.
In addition, our property management team has been appointed as the DMC manager of T-Plus in Tuen Mun recently, which will strengthen the business portfolio of the Group. Another new project, Serene Garden in Tsing Yi, being a two-year property management contract, has also been successfully awarded, further enriching our business profile in the New Territories district.
Besides, we are also continuing to develop our car park business apart from car park contracts of The Link and West Kowloon Station; we have secured the carpark management services contracts of Ming Yuen Mansions and Wealth Commercial Centre in North Point and Mong Kok respectively.
於報告期間我們亦就非住宅組合獲得位於將軍澳電 視廣播有限公司(「電視廣播」)新保安服務合約,我 們期待在不久將來與電視廣播發掘更多商機。
於報告期間後,本集團已獲授3份為期三年的新合 約,合約總額約港幣250,000,000元。3份新合約如下 並分別於9月及10月開始:
- 購物中心、停車場及熟食檔物業管理支援服務 (「物業管理支援服務」)(天水圍和屯門區域)
- 購物中心、停車場及熟食檔物業管理支援服務 (九龍中、深水埗、何文田和慈雲山區域)
- 為Elements圓方提供顧客及禮賓服務員
物業管理支援服務的合約由領展資產管理有限公司 (「領展」)授予。該等合約涵蓋了約50個購物中心, 將我們的業務組合躍至一個新的里程碑。此外,為香 港鐵路有限公司(「港鐵」)其下之Elements圓方提供顧 客及禮賓服務員之合約,已將我們的業務組合擴展 至甲級購物中心。Elements圓方為一個知名商場,涵 蓋奢侈品牌、美食及娛樂,提供頂級購物體驗。我們 將領導客戶服務團隊以及會所及會籍管理團隊,為 Elements圓方客戶提供優秀服務。
另外,物業管理團隊最近獲委任為位於屯門菁雋的 公契經理人,加強了本集團之業務組合。另一成功獲 得的新項目為位於青衣海悅花園兩年期物業管理合 約,進一步豐富我們於新界區之業務組合。
此外,除領展及西九龍站停車場之管理合約外,我們 亦繼續發展停車場業務,我們分別成功取得北角明 園及旺角廣發商業中心停車場管理服務合約。
Our facility management team has won a contract of management and supporting services to Ping Shan Tang Clan Gallery cum Heritage Trail Visitors Centre of the Development Bureau to provide comprehensive facility management services including facility management, customer services, security services and cleaning services, gardening and small-scale maintenance. The team has been collaborating with numerous public and private clients on a long-term basis over the years. Representative contracts includes provision of services for customer services centre and backend accountancy for MTR Tseung Kwan O Line Stations, Causeway Bay Group Stations, Kennedy Town Group Stations, West Rail Line Stations, Homantin Group Stations and South Island Line Stations, taxi services management at the Hong Kong International Airport, provision of facilities management services at HKU SPACE Kowloon East Campus and Island East Campus, and residential, riding schools and other associated properties at The Hong Kong Jockey Club, etc.
On the other hand, our PFM teams have achieved outstanding renewal rate of approximately 90%. Several significant contracts were successfully renewed with satisfactory growth rate which enables us to generate steady revenue to the Group and contribute to the increment of operating profit. The following key contracts were successfully renewed with an increase in service fee:
- Property Management Service Contracts: Radiant Towers, Symphony Garden, Sun Tin Wai Commercial Centre and Car Park, King Shing Court and Tin Fu Court.
- Facility Management Service Contracts: Customer and Supporting Services to Hong Kong Heritage Museum and Sheung Yiu Folk Museum of the Leisure and Cultural Services Department, Provision of Station Assistant Services for various projects of MTR and Services of Ticket Selling, Fee Collection and Customer Service at the Hong Kong Wetland Park.
Revenue has increased by 9.1% and the operating profit has increased by 70.7% to approximately HK\$14.0 million for the Reporting Period. We also succeeded in reducing the operating expenses substantially by 16.4% to approximately HK\$18.4 million. With the growth in revenue and the effect of cost reduction after improved operating efficiency, the results in the first half of 2019 were encouraging. The Group is able to maintain its competitiveness in the market with quality services offered to our clients. We strived hard to expand our business under keen competitive environment and exercise tight cost control to sustain our profit margin. With our stable and unique market position, we will continue to retain our current portfolio whilst exploring opportunities in commercial and operational facilities in the territory.
設施管理團隊亦已成功投得發展局之屏山鄧族文物 館暨文物徑訪客中心管理及支援服務合約,以提供 綜合設施管理服務,包括設施管理、客戶服務、保安 及清潔服務、園藝以及小型保養。團隊多年來一直與 多名公營及私營客戶長期合作。當中具代表性的合 約包括為港鐵將軍澳綫車站、銅鑼灣站、堅尼地城 站、西鐵綫車站、何文田站及南港島綫車站提供客戶 服務中心及後勤會計服務;為香港國際機場提供的 士服務管理;為香港大學專業進修學院九龍東分校 及港島東分校及為香港賽馬會住宅、騎術學校及其 他相關物業提供設施管理服務等。
另一方面,物業及設施管理團隊已實現約90%優異的 續約比率。我們以理想的增長率成功重續多份重大 合約,讓我們能為本集團帶來穩定收益及貢獻經營 溢利有所增長。以下關鍵合約獲成功續約,且服務費 亦有所增長:
- 物業管理服務合約:旭輝臺、朗峰園、新田圍 商場及停車場、景盛苑及天富苑。
- 設施管理服務合約:為康樂及文化事務署香港 文化博物館及上窰民俗文物館提供客戶及支援 服務;為港鐵多個項目提供月台助理服務;及 為香港濕地公園提供售票服務、收費及客戶服 務。
於報告期間收益增加9.1%,而經營溢利增加70.7%至 約港幣14,000,000元。我們亦成功大幅削減經營開支 16.4%至約港幣18,400,000元。隨著收益有所增長及經 營效率有所改善後令減省成本見效,2019年上半年 業績非常令人鼓舞。本集團能夠於市場上維持競爭 力,為客戶提供優質服務。我們致力於激烈競爭中拓 展業務並實施嚴格的成本控制以維持利潤率。憑藉 穩固及獨特市場地位,我們將繼續保留現有組合,同 時拓展區內商業及營運設施的機會。
管理層討論及分析
China:
In view of keen competition from large developers in China, our Group revisited its long term development strategy in China by strategically allocating its resources to Shanghai team starting from last year. After that, the China team has successfully turned around from the operating loss last year to breakeven with our strong commitment. With the potential opportunities including leasing of commercial properties on hand, we are confident to generate profit in the second half of 2019 with effective cost control.
Starting from August 2019, the China team has provided asset management services (including business positioning, technical support consultancy, leasing and operation management) for Jinan Traffic Center with an expected income ranging from HK\$2.0 million to HK\$4.0 million. Jinan Traffic Center is a commercial complex developed by Jinan Sijian Construction Group, a famous developer in Shandong Province. Located in the heart of Tianqiao District of Jinan City, Jinan Traffic Center project is a commercial development with 340,000 square metres comprising of topgrade office, residence, shopping center and deluxe hotel.
Ancillary Business:
Our Ancillary Business comprising of integrated procurement, laundry, cleaning, security, maintenance and technical support services has long been offering flexible services to clients and supporting our core PFM business. During the Reporting Period, our Ancillary Business recorded a substantial growth with an increase of revenue by 26.3% to HK\$65.3 million as compared to that of the Corresponding Period and a huge jump of operating profit from HK\$0.2 million to HK\$5.8 million. The result was satisfactory and encouraging. It revealed the advancement of service provision and active expansion of various business portfolios with strong commitment of the new management team especially the credit putting to our cleaning and maintenance and technical support services businesses.
中國:
鑑於在中國與大型發展商的競爭激烈,本集團重新 審視其於中國長遠發展策略,自去年起透過有策略 地分配其資源予上海團隊。其後,憑藉中國團隊的矢 志承諾,彼等已成功由去年的經營虧損扭轉至收支 平衡。藉著租賃手頭上商用物業等潛在機遇,透過有 效成本控制措施,我們有信心能夠於2019年下半年 產生溢利。
自2019年8月起,中國團隊為濟南交通中心提供資產 管理服務(包括業務定位、技術支援諮詢、租賃及營 運管理),預期收入為港幣2,000,000元至港幣4,000,000 元不等。濟南交通中心為山東省著名發展商濟南四 建集團開發的商業綜合項目。濟南交通中心項目位 於濟南市天橋區中心地帶,為包括甲級寫字樓、住 宅、購物中心及高級酒店佔地340,000平方米的商業 發展項目。
輔助業務:
我們的輔助業務包括綜合採購、洗衣、清潔、保安、 維修及技術支援服務,一直以來為客戶提供靈活的 服務並支持我們的核心物業及設施管理業務。於報 告期間,輔助業務錄得顯著增長,收益較同期增加 26.3%至港幣65,300,000元,經營溢利亦由港幣200,000 元大幅增加至港幣5,800,000元。業績令人滿意及鼓 舞。此業績尤其歸功於清潔和維修及技術支援服務 業務,展現了服務提供的改進及多項業務組合的積 極擴充,再加上新管理團隊的堅定承諾。
Cleaning business remains the major revenue contributor under Ancillary Business in 2019. A number of new and significant cleaning services contracts were awarded from one-year to two-year with a contract sum of approximately HK\$19 million. Since last year, our cleaning business team has been expanding its service scope to serviced apartments. During the Reporting Period, the team clinched new contracts of two posh and quality serviced apartments, Mori Mori and The Unit, both of them are located at prime locations on Hong Kong Island. Other significant new cleaning services contracts include:
- Ching Wah Court is a 6-block Home Ownership Scheme ("HOS") court;
- Hong Lok Yuen is large-scale luxury standalone residences in Tai Po;
- Fair Way Garden is high-end private residential properties in Homantin;
- Yee Fung Garden is a small scale residence composing 2-block located in Yuen Long; and
- Hong Kong Baptist University Senior Staff Quarters.
Our maintenance and technical support services business has been growing steadily as well as increasingly professional. In addition to obtaining the qualifications of Registered Minor Works Contractor and Registered Electrical Contractor last year, we are successfully registered as a Fire Service Installation Contractor (Class 1 and Class 2) during the Reporting Period. This enables us to provide our clients with a more comprehensive service. Meanwhile, the team is also eyeing on the security company license and the qualification of Registered General Building Contractor (RGBC), which would further enhance our business capability. Significant new contracts include:
- Rectification works of external wall spalling concrete of Kwong Ming Court;
- Waterproofing and maintenance of podium and external wall of block 9 at Lung Mun Oasis;
- Replacement of manhole cover in Elegance Garden;
- Maintenance of waterproof layer and finishing of driveway in Cloudview Mansion; and
- Replacement of stainless steel canal cover works of Full Wealth Gardens.
2019年,清潔業務繼續是輔助業務的主要收益來源。 該業務取得多項為期一年至兩年新的重大清潔服務 合約,合約總額約港幣19,000,000元。自去年起,清 潔業務團隊擴充其服務範疇至服務式公寓。於報告 期間,團隊獲得兩個高尚優質服務式公寓(Mori Mori 及The Unit)的新合約,該等服務式公寓均位於港島區 優質地段。其他重大新清潔服務合約包括:
- 青華苑 6座居者有其屋(「居屋」)屋苑;
- 康樂園 位於大埔的大型獨立式豪宅;
- 富威花園 位於何文田的高尚私人住宅物業;
- 怡豐花園 位於元朗的2座小型私人住宅;及
- 香港浸會大學高級職員宿舍。
維修及技術支援服務業務不斷穩步增長,日益專業。 除了去年獲得註冊小型工程承建商及註冊電業承辦 商資格外,我們於報告期間成功註冊為消防裝置承 辦商(第1及2級)。這有助我們為客戶提供更全面的 服務。與此同時,團隊亦計劃考取保安公司牌照及註 冊一般建築承建商(一般建築承建商),從而進一步 提升業務能力。重大新合約包括:
- 廣明苑外牆石屎剝落復修工程;
- 龍門居第9座平台及外牆防漏及維修工程;
- 富雅花園更換渠蓋工程;
- 祥雲閣私家車道路防水層及飾面維修工程;及
- 北角富雅花園更換不鏽鋼渠蓋工程。
管理層討論及分析
We saw great potential of the Ancillary Business development and are putting more effort as well as strong commitment to this business. We will c o n t i n u e t o e n l a r g e o u r c l i e n t p o o l a n d a l s o e n h a n c e t h e comprehensiveness and quality of supporting services to the core business and external customers.
我們有見輔助業務發展潛力龐大,故堅決致力投入 更大努力於該業務。我們繼續擴闊客戶群的同時,亦 將提升核心業務及外部客戶支援服務的全面性及服 務之質素。
Operating results for 1H 2018 and 1H 2019
Stepping into second half of 2019, given that Synergis has continued to adopt a total quality management approach, which helps us to maintain our standard of premium customer services. We have a dedicated management team and a strong backup force comprising of professional headquarters supporting team, and technical and security support team. We believed that we must keep pace with the times and employ innovation and technology to help boost our management efficiency and strengthen our relationship with clients. This gives us confidence to grasp all possible opportunities to expand our market share with our enlarging service scope and quality service and to retain our current clients for more prosperous reward. The management team is ambitious to perform much better than we did in 2018 and we aim to achieve excellent results for the full year of 2019.
踏入2019年下半年,鑑於昇捷一如以往採取全面品 質管理方針,幫助我們維持優質的客戶服務水平。我 們擁有專注的管理團隊,及由專業的總部支援團隊 與技術及保安支援團隊組成的強而有力的後盾。我 們相信我們定能與時並進,利用創新科技以助提升 管理效益及增強與客戶的關係。這使我們有信心把 握所有潛在機遇,憑藉不斷開拓的服務範疇及優質 服務以擴大市場佔有率,並保留現有客戶取得更豐 碩回報。管理團隊有志大幅提升表現,更勝2018年, 並致力於2019年全年取得更理想佳績。
Interiors and Special Projects Business
As another key business arm of Synergis, ISP Business provides one-stop ISP services including planning, design, consultancy, project management, repair and restoration of historic buildings work, curtain wall, sourcing services, etc. to its local and overseas customers.
ISP Business continues to contribute approximately 50% of the total revenue of the Group. During the Reporting Period, the total revenue and operating profit of ISP Business recorded approximately HK\$370.9 million and approximately HK\$9.9 million respectively, representing a decrease of 5.8% in the revenue and increase of 175.0% in operating profit respectively when compared to those of the Corresponding Period. The decrease in revenue and gross profit were mainly due to the completion of a fewer key contracts. The significant revenue contribution came from several key projects including the facade works for the Kowloon East Regional Headquarters and Ngau Tau Kok Divisional Police Station, proposed commercial building development at Electric Road and the new factory development of a well-established pharmaceutical brand in Yuen Long which contributed around half of ISP Business's revenue for the Reporting Period. Last year, the management of ISP Business took a more cautious approach to monitor operating expenses and such effective cost control measure has significantly uplifted the operating profit from HK\$3.6 million in the Corresponding Period to approximately HK\$9.9 million in this Reporting Period.
ISP Business remains healthy with outstanding workload for the contracts on hand of around HK\$1.0 billion, which was very similar with those standing at the end of last year, and over half of which would be expected to complete by end of 2019. During the Reporting Period, we were awarded a number of new projects with the contract sum of approximately HK\$220.0 million. The key projects are listed as below:
- Annex Works for Cognita at 25 Man Fuk Road in Homantin;
- Renovation Works at Fung Tak Market in Diamond Hill;
- Proposed Alteration and Addition Works at Kam Tai Shopping Centre in Ma On Shan; and
- Fitting-out Works for Chow Tai Fook at K11 in Tsim Sha Tsui.
Facing with the challenging business environment and the keen competition in the market, we continue to strive for the growth of the ISP Business. We will stay focused on the core businesses including fitting-out, alteration and addition, renovation, special construction project, etc. With the team's commitment to excellence, we are looking for an overall business performance improvement in the near future.
室內裝飾及特殊項目業務
室內裝飾及特殊項目業務乃昇捷另一個核心業務, 向本地及海外客戶提供一站式室內裝飾及特殊項目 服務,包括規劃、設計、顧問、項目管理、以及歷史 建築維修及修復工程、幕牆、採購服務等。
室內裝飾及特殊項目業務繼續貢獻本集團總收益約 50%。於報告期間,室內裝飾及特殊項目業務的總收 益及經營溢利分別錄得約港幣370,900,000元及約港幣 9,900,000元,較同期的收益及經營溢利分別減少5.8% 及增加175.0%。收益及毛利減少主要由於完成數份主 要合約。重大收益來自數個主要項目,當中包括東九 龍總區總部及牛頭角分區警署大樓外牆相關工程、 電氣道擬定商業大樓發展項目及元朗知名製藥品牌 之新廠房發展項目,在報告期間此等項目佔室內裝 飾及特殊項目業務收益約一半。去年,室內裝飾及特 殊項目業務管理層採取更審慎態度監察經營開支。 藉此有效的成本控制措施,經營溢利由同期的港幣 3,600,000元顯著提升至本報告期間約港幣9,900,000元。
室內裝飾及特殊項目業務維持穩健,尚未完成工程 約港幣1,000,000,000元,與去年底相若,其中超過一 半預期在2019年年底完工。於報告期間,我們取得 多個新項目,合約總額約港幣220,000,000元。主要項 目列舉如下:
- 何文田文福道25號Cognita附屬工程;
- 鑽石山鳳德街市翻新工程;
- 馬鞍山錦泰商場建議改建及加建工程;及
- 尖沙咀K11周大福裝修工程。
鑑於營商環境極具挑戰及市場競爭激烈,我們會繼 續致力發展室內裝飾及特殊項目業務。並集中於裝 修、改建及加建、翻新工程、特殊建設項目等核心業 務。憑藉團隊的卓越服務承諾,我們期望整體業務表 現於不久將來有所增長。
管理層討論及分析
Outlook of the Group
Aligning our values of customer focus, integrity, teamwork, innovation and pursuit of excellence, sustainability is our core business strategy. We are committed to enhancing customer satisfaction through better communication with client. Looking ahead in the second half of 2019, despite social unrest and the escalating China-United States trade war, we expect that the local property market would remain strong due to steadily high demand of housing, which offers numerous business opportunities for both our PFM and ISP Businesses. The Group will capture these opportunities and expand our business portfolio and client base. The Group is cautiously optimistic about the outlook of two core businesses despite continuing challenges and uncertainties in future. We would continue to maintain our solid foundation and also seek continuous improvement and look forward to reaching a new height.
Financial Position and Financial Risk Management
As of 30 June 2019, the total outstanding bank loans were HK\$144.0 million, and scheduled to be repaid within one year. This includes the outstanding balance of a term loan of HK\$24.0 million for acquiring the ISP Business in late 2012 and a term loan of HK\$30.0 million drawn down to support ISP operation in mid 2018. The remaining sum represents the working capital loans currently for supporting ISP operation and business development. During the Reporting Period, the Group's sources of fund were generated primarily from operating activities.
Interest costs on bank borrowings are primarily charged based on a spread over HIBOR. With regard to the current portfolio of businesses, management expects that financial requirements for the foreseeable future will be met from a combination of shareholders' equity and banking facilities. The Group would continue to proactively monitor the financial position and maintain sufficient working capital and liquidity in the way that can enable us to capture any good business opportunities and to meet the challenges ahead.
The operating results has been improved substantially. As a result, the gearing ratio (net debt to net assets) substantially decreased from 58.1% to 25.3% and the net assets have been increased approximately HK\$19.0 million to approximately HK\$109.0 million as compared with the year ended 31 December 2018. The basic earnings per share has improved a lot to 4.8 HK cents as well.
集團展望
可持續發展是我們業務策略的核心,與我們以客為 本、正直誠實、群策群力、不斷創新及追求卓越的企 業價值相匹配。我們致力通過加強和客戶溝通,提高 客戶滿意度。展望2019年下半年,儘管社會局勢不 穩及中美貿易戰不斷升溫,但由於住屋需求持續高 企,本地物業市場仍然強勁,為我們的物業及設施管 理業務及室內裝飾及特殊項目業務提供無限商機。 本集團將抓緊此等機會,擴大業務組合及客戶群。儘 管未來仍然充滿挑戰及不確定因素,本集團對兩大 主要業務的前景仍然抱持審慎而樂觀態度,繼續穩 守基業,追求不斷改善,期望再創高峰。
財務狀況及財務風險管理
截至2019年6月30日,尚未償還銀行貸款總額為港 幣144,000,000元,並計劃於一年內償還。這包括有關 於2012年年底為收購室內裝飾及特殊項目業務而提 取的尚未償還結餘有期貸款港幣24,000,000元,以及 用於支持室內裝飾及特殊項目營運而於2018年年中 提取的尚未償還結餘有期貸款港幣30,000,000元。餘 款為目前支持室內裝飾及特殊項目運作及業務發展 之營運資金貸款。在本報告期間,本集團的資金來源 主要來自經營活動。
銀行借貸之利息成本主要按香港銀行同業拆息加息 差計算。就現有業務組合而言,管理層預期將以股東 權益及銀行信貸之方式應付可預見的未來財務需求。 本集團將繼續積極監察其財務狀況,並維持充足營 運資本及流動資金以把握任何良好商機及迎接未來 挑戰。
經營業績得到大幅改善。因此,與截至2018年12月 31日止年度比較,資產負債比率(淨負債與資產淨值) 大幅度由58.1%減少至25.3%,而資產淨值亦增加約 港幣19,000,000元至約港幣109,000,000元。每股基本 盈利也大幅提高至港幣4.8仙。
管理層討論及分析
| Financial position (HK\$'000) | 30 June 2019 | 31 December 2018 | |
|---|---|---|---|
| 財務狀況(港幣千元) | 2019年6月30日 | 2018年12月31日 | |
| Total assets | 資產總值 | 805,129 | 838,874 |
| Receivables and other assets | 應收賬款及其他資產 | 647,124 | 698,105 |
| Deposits, cash and cash equivalents | 存款、現金及現金等值 | 116,529 | 113,950 |
| Current assets | 流動資產 | 763,653 | 812,055 |
| Payables and other liabilities | 應付賬款及其他負債 | 546,428 | 581,200 |
| Bank loans | 銀行貸款 | 144,000 | 166,000 |
| Current liabilities | 流動負債 | 690,428 | 747,200 |
| Net assets | 資產淨值 | 108,558 | 89,522 |
| Gearing ratios and liquidity Net debt to net assets Total debt to net assets Current ratio |
資產負債比率及流動資金 淨負債與資產淨值之比率 總負債與資產淨值之比率 流動比率 |
25.3% 132.6% 1.1 |
58.1% 185.4% 1.1 |
| Financial position 財務狀況 |
30 June 2019 2019年6月30日 |
30 June 2018 2018年6月30日 |
|
|---|---|---|---|
| Per share data | 每股數據 | ||
| Shares in issue (all classes) | 已發行股份(所有類別) | 504,850,000 | 504,850,000 |
| Basic earnings per share (HK cents) | 每股基本盈利(港幣仙) | 4.8 | 0.1 |
| Diluted earnings per share (HK cents) | 每股攤薄盈利(港幣仙) | 4.1 | 0.1 |
| Net tangible assets per share (HK cents) | 每股有形資產淨值(港幣仙) | 21.5 | 26.8 |
The Group adopts a conservative approach in the management of its financial risks and resources, under the supervision of the Executive Committee.
本集團於執行委員會之監管下對其財務風險和資源 採取審慎方式管理。
Interest rate risk arising from bank borrowings is low as interest rates are fixed for short-term periods to take advantage of the lower rates thus available. Interest rates will be subject to fluctuation at the time of renewal.
我們採用短期固定利率以充分利用當前的低息環境, 故銀行借貸之利率風險較低。利率將可能於重續時 波動。
管理層討論及分析
The Group's business is conducted primarily in Hong Kong, and the majority of its assets and liabilities is denominated in Hong Kong Dollars. Therefore, the Group has minimal foreign currency exposure. The growth of the Group's business in China has been funded via permanent capital injection, which is for the long-term and as such, foreign currency hedging is considered unnecessary.
It is the Group's policy not to enter into derivative transactions for speculative purposes. It is also the Group's policy not to invest its financial resources in financial products, including hedge funds or similar instruments, with significant underlying leverage or derivative exposure.
Cash Management
The Group operates a centralised cash management system. Cash balances surplus to meet immediate requirements are mainly placed as short-term bank deposits with a number of licensed banks in Hong Kong.
Human Resources
As at 30 June 2019, the Group employed a total of 5,087 staff (31 December 2018: 5,294) in Hong Kong and China.
In order to sustain our quality services, it is always our long-term goal to retain capable staff. We have put a lot of effort into ensuring that our staff members are having desirable staff remuneration and benefits through market research and regular review. Our Human Resources Team always strives their best to keep track of changes in the latest market conditions for attracting more talented candidates to serve the Group. In addition, aiming for the mutual growth of the staff and the Company, the Company is willing to share resources with our staff. We have formulated a holistic policy on personnel management "We Care We Share 盡展關懷 共享成 果". We believe the staff will reward the Company and customers through providing quality services and thus gain more appreciation and recognition from the customers. Besides, the team manages to enhance the existing Human Resources system to promote the effectiveness and efficiency of business operations.
INTERIM DIVIDEND
The Board does not recommend the payment of interim dividend for the Reporting Period (2018: nil).
27 August 2019, Hong Kong
本集團的業務主要在香港進行,其大部分資產和負 債均以港幣計值。因此本集團的外匯風險甚微。本集 團在中國之業務增長透過永久注資長期撥付資金, 因此本集團認為並無必要進行外匯對沖。
本集團之一貫政策是不會訂立衍生工具交易作投機 炒賣用途,亦不會將其財務資源投資於帶來重大槓 桿效應或衍生工具風險之金融產品上,包括對沖基 金或類似投資工具。
現金管理
本集團設有中央現金管理系統。應對即時需求之現 金結餘盈餘主要作為短期銀行存款存放於香港多間 持牌銀行。
人才資源
於2019年6月30日,本集團於香港及中國僱用合共 5,087名員工(2018年12月31日:5,294名)。
為了維持優質服務,我們的恆常長期目標是留聘有 能力的員工。我們竭力透過市場研究及定期檢討,竭 力確保員工獲得理想的員工薪酬及福利。人力資源 團隊一直盡其所能緊貼最新市況變化,以吸納更多 人才服務本集團。此外,為了員工能與本公司共同成 長,本公司願意與員工分享資源。我們已制定全面的 人員管理政策「We Care We Share 盡展關懷 共享成 果」。我們相信員工將以優質服務回饋本公司及顧 客,獲得更多顧客的讚賞及認同。另外,團隊有能力 提升現有人力資源制度,促進業務營運的有效性及 效率。
中期股息
董事會不建議就截至報告期間派付中期股息(2018年: 無)。
香港,2019年8月27日
Report on Review of Interim Condensed Consolidated Financial Statements
中期簡明綜合財務報表的審閱報告
TO THE BOARD OF DIRECTORS OF SYNERGIS HOLDINGS LIMITED
(incorporated in Bermuda with limited liability)
致昇捷控股有限公司董事會
(於百慕達註冊成立之有限公司)
Introduction
We have reviewed the interim condensed consolidated financial statements set out on pages 20 to 46, which comprises the condensed consolidated statement of financial position of Synergis Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") as of 30 June 2019 and the related condensed consolidated statement of profit or loss and other comprehensive income, condensed consolidated statement of changes in equity and condensed consolidated statement of cash flows for the six-month period then ended, and a summary of significant accounting policies and other explanatory notes (the "interim condensed consolidated financial statements"). The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited require the preparation of a report on interim financial information to be in compliance with the relevant provisions thereof and Hong Kong Accounting Standard 34 "Interim Financial Reporting" ("HKAS 34") issued by the Hong Kong Institute of Certified Public Accountants. The directors are responsible for the preparation and presentation of the interim condensed consolidated financial statements in accordance with HKAS 34 "Interim Financial Reporting". Our responsibility is to express a conclusion on this interim financial information based on our review. This report is made solely to you, as a body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.
Scope of review
We conducted our review in accordance with Hong Kong Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Hong Kong Institute of Certified Public Accountants. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Hong Kong Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
引言
吾等已審閱列載於第20至46頁的中期簡明綜合財務 報表,該等中期簡明綜合財務報表包括昇捷控股有 限公司(「本公司」)及其附屬公司(統稱「貴集團」)截 至2019年6月30日的簡明綜合財務狀況表與截至該 日止六個月期間的相關簡明綜合損益及其他全面收 益表、簡明綜合權益變動表及簡明綜合現金流量表, 以及主要會計政策概要和其他附註解釋(「中期簡明 綜合財務報表」)。香港聯合交易所有限公司證券上市 規則規定,就中期財務資料擬備的報告必須符合以 上規則的有關條文以及香港會計師公會頒佈的香港 會計準則第34號「中期財務報告」(「香港會計準則第 34號」)。董事負責根據香港會計準則第34號「中期財 務報告」擬備及列報中期簡明綜合財務報表。吾等的 責任是根據吾等的審閱對本中期財務資料作出結論。 本報告僅按照吾等協定的委聘約定條款向 閣下(作 為整體)作出,除此之外本報告別無其他目的。吾等 不會就本報告的內容向任何其他人士負上或承擔任 何責任。
審閱範圍
吾等已根據香港會計師公會頒佈之香港審閱委聘準 則第2410號「由實體的獨立核數師執行中期財務資料 審閱」進行審閱。審閱中期財務資料包括主要向負責 財務和會計事務的人員作出查詢,及應用分析性和 其他審閱程序。審閱的範圍遠較根據香港審計準則 進行審計的範圍為小,故不能令吾等可保證吾等將 知悉在審計中可能被發現的所有重大事項。因此,吾 等不會發表審計意見。
Report on Review of Interim Condensed Consolidated Financial Statements
中期簡明綜合財務報表的審閱報告
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the interim condensed consolidated financial statements is not prepared, in all material respects, in accordance with HKAS 34.
Other matter
The consolidated financial statements of the Group for the year ended 31 December 2018, were audited by another auditor who expressed an unmodified opinion on those statements on 26 March 2019. The interim condensed consolidated financial statements of the Group for the sixmonth period ended 30 June 2018, were reviewed by another auditor who expressed an unmodified conclusion on those statements on 28 August 2018.
結論
按照吾等的審閱,吾等並無發現任何事項,令吾等相 信中期簡明綜合財務報表未有在各重大方面根據香 港會計準則第34號擬備。
其他事項
貴集團截至2018年12月31日止年度之綜合財務報表 乃由另一名於2019年3月26日對該等報表發表未經 修改意見之核數師審核。 貴集團截至2018年6月30 日止六個月期間的中期簡明綜合財務報表由另一名 核數師審閱,其已於2018年8月28日對該等財務報 表發表無修訂結論。
BDO Limited
Certified Public Accountants Lee Ka Leung, Daniel Practising Certificate Number: P01220
27 August 2019, Hong Kong
香港立信德豪會計師事務所有限公司 執業會計師 李家樑 執業證書編號:P01220
香港,2019年8月27日
Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
簡明綜合損益及其他全面收益表
For the six months ended 30 June 2019 截至2019年6月30日止六個月
| HK\$'000 | Note | Unaudited 未經審核 Six months ended 30 June 截至6月30日止六個月 |
||
|---|---|---|---|---|
| 港幣千元 | 附註 | 2019 | 2018 | |
| Revenue | 收益 | 5 | 736,955 | 740,331 |
| Cost of sales | 銷售成本 | (659,848) | (664,990) | |
| Gross profit | 毛利 | 77,107 | 75,341 | |
| Other income | 其他收入 | 1,602 | 2,166 | |
| General and administrative expenses | 一般及行政開支 | (49,309) | (68,537) | |
| Doubtful debts recovery | 收回壞賬 | 89 | 41 | |
| Impairment of receivables | 應收賬款之減值 | (408) | (3,934) | |
| Interest expenses | 利息開支 | 6 | (3,311) | (2,779) |
| Loss on disposal of subsidiaries | 出售附屬公司之虧損 | – | (623) | |
| Profit before taxation | 除稅前溢利 | 7 | 25,770 | 1,675 |
| Taxation | 稅項 | 8 | (5,290) | (1,571) |
| Profit for the period | 期內溢利 | 20,480 | 104 | |
| Other comprehensive income: | 其他全面收益: | |||
| Items that may be subsequently reclassified to | 可其後重新分類至損益之項目 | |||
| profit or loss | ||||
| Exchange differences on translating | 換算海外業務產生之匯兌差額 | |||
| foreign operations | (123) | (205) | ||
| Realisation of exchange reserve upon | 出售一間附屬公司時變現 | |||
| disposal of a subsidiary | 匯兌儲備 | – | 152 | |
| Total comprehensive income for | 期內全面收益總額 | |||
| the period | 20,357 | 51 | ||
| Profit for the period attributable to: | 應佔期內溢利: | |||
| Equity holders of the Company | 本公司股權持有人 | 20,480 | 350 | |
| Non-controlling interests | 非控股權益 | – | (246) | |
| 20,480 | 104 | |||
| Total comprehensive income for the | 應佔期內全面收益總額: | |||
| period attributable to: | ||||
| Equity holders of the Company | 本公司股權持有人 | 20,357 | 51 | |
| Earnings per share for profit attributable | 本公司股權持有人應佔溢利之 | |||
| to the equity holders of the Company | 每股盈利 | |||
| — basic (HK cents) | — 基本(港幣仙) | 9 | 4.8 | 0.1 |
| — diluted (HK cents) | — 攤薄(港幣仙) | 9 | 4.1 | 0.1 |
Condensed Consolidated Statement of Financial Position
簡明綜合財務狀況表
As at 30 June 2019 於2019年6月30日
| Unaudited | Audited | |||
|---|---|---|---|---|
| 未經審核 | 經審核 | |||
| HK\$'000 港幣千元 |
Note 附註 |
30 June 2019 2019年6月30日 |
31 December 2018 2018年12月31日 |
|
| Non-current assets | 非流動資產 | |||
| Property, plant and equipment | 物業、機器及設備 | 11 | 27,302 | 10,960 |
| Investment properties | 投資物業 | 12 | 7,200 | 7,000 |
| Deferred tax assets | 遞延稅項資產 | 6,159 | 6,528 | |
| Prepayment | 預付款項 | 815 | 2,331 | |
| Total non-current assets | 非流動資產總額 | 41,476 | 26,819 | |
| Current assets | 流動資產 | |||
| Contract assets | 合約資產 | 266,921 | 293,143 | |
| Receivables Deposits and prepayments |
應收賬款 按金及預付款項 |
14 14 |
353,897 24,694 |
379,983 22,188 |
| Taxation recoverable | 可收回稅項 | 1,612 | 2,791 | |
| Cash and cash equivalents | 現金及現金等值 | 105,543 | 103,084 | |
| Time deposits with original maturities | 原到期日超過三個月之 | |||
| over three months | 定期存款 | 10,986 | 10,866 | |
| Total current assets | 流動資產總額 | 763,653 | 812,055 | |
| Current liabilities | 流動負債 | |||
| Payables and accruals | 應付賬款及應計費用 | 15 | 516,114 | 569,783 |
| Contract liabilities | 合約負債 | 15,576 | 10,953 | |
| Bank loans | 銀行貸款 | 16 | 144,000 | 166,000 |
| Lease liabilities | 租賃負債 | 3 | 10,771 | – |
| Taxation payable | 應付稅項 | 3,967 | 464 | |
| Total current liabilities | 流動負債總額 | 690,428 | 747,200 | |
| Net current assets | 流動資產淨值 | 73,225 | 64,855 | |
| Total assets less current liabilities | 資產總額減流動負債 | 114,701 | 91,674 | |
| Non-current liabilities | 非流動負債 | |||
| Lease liabilities | 租賃負債 | 3 | 3,776 | – |
| Long service payment liabilities | 長期服務金負債 | 1,963 | 1,963 | |
| Deferred tax liabilities | 遞延稅項負債 | 404 | 189 | |
| Total non-current liabilities | 非流動負債總額 | 6,143 | 2,152 | |
| Net assets | 資產淨值 | 108,558 | 89,522 | |
| Equity attributable to equity holders of | 本公司股權持有人應佔權益 | |||
| the Company | ||||
| Share capital Retained profits and other reserves |
股本 保留溢利及其他儲備 |
17 | 50,486 58,072 |
50,486 39,036 |
| Total equity | 權益總額 | 108,558 | 89,522 |
Condensed Consolidated Statement of Changes in Equity
簡明綜合權益變動表
For the six months ended 30 June 2019 截至2019年6月30日止六個月
| Attributable to equity holders of the Company 歸屬於本公司股權持有人 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|
| HK\$'000 港幣千元 |
Share capital 股本 |
Share premium 股份溢價 |
Merger reserve 合併儲備 |
Exchange reserve 匯兌儲備 |
Accumulated losses 累計虧損 |
Total 總計 |
Non controlling interests 非控股權益 |
Total Equity 權益總額 |
|
| At 1 January 2019 (audited) | 於2019年1月1日(經審核) | 50,486 | 185,420 | 1,513 | (1,947) | (145,950) | 89,522 | – | 89,522 |
| Change in accounting policy | 會計政策變動 | – | – | – | – | (1,321) | (1,321) | – | (1,321) |
| Restated total equity at 1 January 2019 Profit for the period Other comprehensive income: Exchange differences on |
於2019年1月1日的 經重列總權益 期內溢利 其他全面收益: 換算海外業務產生之 |
50,486 – |
185,420 – |
1,513 – |
(1,947) – |
(147,271) 20,480 |
88,201 20,480 |
– – |
88,201 20,480 |
| translating foreign operations | 匯兌差額 | – | – | – | (123) | – | (123) | – | (123) |
| Total comprehensive income | 全面收益總額 | – | – | – | (123) | 20,480 | 20,357 | – | 20,357 |
| At 30 June 2019 (unaudited) | 於2019年6月30日 (未經審核) |
50,486 | 185,420 | 1,513 | (2,070) | (126,791) | 108,558 | – | 108,558 |
| At 1 January 2018 (audited) | 於2018年1月1日(經審核) | 50,486 | 185,420 | 1,513 | (850) | 15,416 | 251,985 | (1,158) | 250,827 |
| Change in accounting policy | 會計政策變動 | – | – | – | – | (293) | (293) | – | (293) |
| Restated total equity at 1 January 2018 Profit/(loss) for the period Other comprehensive income: |
於2018年1月1日的 經重列總權益 期內溢利╱(虧損) 其他全面收益: |
50,486 – |
185,420 – |
1,513 – |
(850) – |
15,123 350 |
251,692 350 |
(1,158) (246) |
250,534 104 |
| Exchange differences on translating foreign operations Realisation of exchange reserve upon disposal of a subsidiary |
換算海外業務產生之 匯兌差額 出售一間附屬公司時 變現匯兌儲備 |
– – |
– – |
– – |
(205) 152 |
– – |
(205) 152 |
– – |
(205) 152 |
| Total other comprehensive income 其他全面收益總額 | – | – | – | (53) | – | (53) | – | (53) | |
| Total comprehensive income | 全面收益總額 | – | – | – | (53) | 350 | 297 | (246) | 51 |
| Disposal of subsidiaries | 出售附屬公司 | – | – | – | – | – | – | 1,404 | 1,404 |
| At 30 June 2018 (unaudited) | 於2018年6月30日 (未經審核) |
50,486 | 185,420 | 1,513 | (903) | 15,473 | 251,989 | – | 251,989 |
Condensed Consolidated Statement of Cash Flows
簡明綜合現金流量表
For the six months ended 30 June 2019 截至2019年6月30日止六個月
| Unaudited 未經審核 |
|||
|---|---|---|---|
| Six months ended 30 June | |||
| HK\$'000 | 截至6月30日止六個月 | ||
| 港幣千元 | 2019 | 2018 | |
| Operating activities | 經營業務 | ||
| Cash generated from operations | 經營業務產生之現金 | 35,767 | 10,978 |
| Income taxes paid | 已付所得稅 | (24) | (58) |
| Net cash generated from operating activities | 經營業務所得之現金淨額 | 35,743 | 10,920 |
| Investing activities | 投資業務 | ||
| Purchase of property, plant and equipment | 購買物業、機器及設備 | (3,345) | (2,658) |
| Proceeds from disposal of property, | 出售物業、機器及設備所得款項 | ||
| plant and equipment | 158 | 14 | |
| Interest received | 已收利息 | 264 | 159 |
| Interest paid | 已付利息 | (3,313) | (2,796) |
| Disposal of subsidiaries, net of cash disposed of | 出售附屬公司,扣除已出售現金 | – | (1,513) |
| Increase in time deposits over three months | 增加超過三個月的定期存款 | (120) | (7,670) |
| Net cash used in investing activities | 投資業務耗用之現金淨額 | (6,356) | (14,464) |
| Financing activities | 融資業務 | ||
| Repayment of bank loans | 償還銀行貸款 | (22,000) | (24,402) |
| Repayment of lease liabilities | 償還租賃負債 | (5,874) | – |
| Drawdown of bank loans | 動用銀行貸款 | – | 40,000 |
| Net cash (used in)/generated from | 融資業務(耗用)╱產生之現金淨額 | ||
| financing activities | (27,874) | 15,598 | |
| Net increase in cash and cash equivalents | 現金及現金等值增加之淨額 | 1,513 | 12,054 |
| Cash and cash equivalents at the beginning of | 期初之現金及現金等值 | ||
| the period | 103,084 | 112,532 | |
| Exchange gain/(loss) on cash and | 現金及現金等值之匯兌收益╱(虧損) | ||
| cash equivalents | 946 | (191) | |
| Cash and cash equivalents at the end | 期末之現金及現金等值 | ||
| of the period | 105,543 | 124,395 |
1 General information
The Company was incorporated in Bermuda under the Companies Act 1981 of Bermuda as an exempted company on 4 August 2003. The address of its registered office is Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda. The Company's shares were listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") on 9 October 2003.
The principal business of the Group is principally engaged in the provision of PFM Business and ISP Business in Hong Kong, China and Macau.
The unaudited interim condensed consolidated financial statements are presented in thousands of Hong Kong dollars ("HK\$"), unless otherwise stated, and were approved for issue by the Board on 27 August 2019.
These interim financial statements are unaudited.
2 Basis of Preparation
The unaudited interim condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standard ("HKAS") 34 "Interim Financial Reporting" issued by the Hong Kong Institute of Certified Public Accountants.
Except as described below, the accounting policies used in the preparation of these unaudited interim condensed consolidated financial statements are consistent with those set out in the annual report for the year ended 31 December 2018.
1 一般資料
本公司於2003年8月4日根據1981年百慕達公 司法在百慕達註冊成立為獲豁免公司。註冊辦 事 處 地 址 為Clarendon House, 2 Church Street, Hamilton, HM11, Bermuda。本公司股份於2003 年10月9日在香港聯合交易所有限公司(「聯交 所」)上市。
本集團之主要業務為於香港、中國及澳門主要 從事提供物業及設施管理業務和室內裝飾及特 殊項目業務。
除另有列明者外,本未經審核中期簡明綜合財 務報表以港幣千元列示,並已於2019年8月27 日經董事會批准刊發。
本中期財務報表未經審計。
2 編製基準
本未經審核中期簡明綜合財務報表已根據香港 會計師公會頒佈的香港會計準則(「香港會計準 則」)第34號「中期財務報告」編製。
除下述者外,編製該等未經審核中期簡明綜合 財務報表所用的會計政策與截至2018年12月 31日止年度的年報所載者一致。
中期簡明綜合財務報表附註
The Hong Kong Institute of Certified Public Accountants has issued a number of new or revised standards, interpretations and amendments to standards which are effective for accounting period beginning 1 January 2019:
| HKFRS 16 | Leases |
|---|---|
| HK(IFRIC)-Int 23 | Uncertainty over Income Tax Treatments |
| Amendments to HKFRS 9 | Prepayment Features with Negative Compensation |
| Amendments to HKAS 19 | Plan amendment, curtailment or settlement |
| Amendments to HKAS 28 | Long-term Interests in Associates and Joint Ventures |
| Amendments to HKFRS 3, HKFRS 11, HKAS 12 and HKAS 23 |
Annual improvements to HKFRSs 2015-2017 Cycle |
The impact of the adoption of the standards and the new accounting policies are disclosed in Note 3.
The Group's activities expose it to a variety of financial risks: market risk (including foreign exchange risk and interest rate risk), credit risk and liquidity risk.
The interim condensed consolidated financial statements do not include all financial risk management information and disclosures required in the annual financial statements, and should be read in conjunction with the Group's annual financial statements as at 31 December 2018.
The Group adopts prudent liquidity risk management which includes maintaining sufficient bank balances and cash, and having available funding through an adequate amount of committed credit facilities. Cash flow forecast is performed in the operating segments of the Group and aggregated by corporate finance team taking into account the Group's history of refinancing, its available banking facilities and its assets backing. Corporate finance team monitors forecasts of the Group's liquidity requirements to ensure the Group has sufficient cash to operate and meet its liabilities as and when they fall due.
香港會計師公會已頒佈多項於2019年1月1日 開始之會計期間生效之新訂或經修訂準則、詮 釋及準則修訂本:
| 香港財務報告準則第16號 | 租賃 |
|---|---|
| 香港(國際財務報告詮釋 委員會)-詮釋第23號 |
有關所得稅處理方法之 不明朗因素 |
| 香港財務報告準則第9號 之修訂 |
具有負補償的提前還款 特性 |
| 香港會計準則第19號之 修訂 |
計劃修訂、縮減或結算 |
| 香港會計準則第28號之修訂 | 聯營及合營企業之 長期權益 |
| 香港財務報告準則第3號、 香港財務報告準則第11號、 香港會計準則第12號及 香港會計準則第23號之 修訂 |
2015年至2017年週期之 年度改進 |
採納準則及新訂會計政策的影響於下文附註3 披露。
本集團之活動令其面臨多種財務風險:市場風 險(包括外匯風險及利率風險)、信貸風險及流 動資金風險。
中期簡明綜合財務資料並無包括年度財務報表 所規定之所有財務風險管理資料及披露,且應 與本集團於2018年12月31日之年度財務報表 一併閱讀。
本集團採取審慎流動資金風險管理,包括維持 充足之銀行結餘及現金,並透過已承諾信貸融 資擁有可供動用之充足金額。本集團之營運分 部會進行現金流量預測,且由公司財務團隊於 考慮本集團之過往再融資記錄、其可供動用銀 行融資及其資產抵押時一併計算。公司財務團 隊監測本集團流動資金要求預測,以確保本集 團有充裕現金經營及償還其到期之負債。
As at 30 June 2019, a financial ratio requirement of bank loans of HK\$114,000,000 was not met which might cause these borrowings to become immediately repayable. These financial ratio requirement were not met from end of 2016. In view of such circumstances, the Directors of the Company have given careful consideration to the future liquidity and performance of the Group and its available sources of financing in assessing whether the Group will have sufficient financial resources to continue as a going concern. Certain measures have been taken to mitigate the liquidity pressure and to improve the Group's financial position which include, but are not limited to, the following:
- (i) the Group has communicated with the bank over the continuing of the aforesaid bank facility and the lender has not indicated any demand for any immediate repayment so far;
- (ii) the Group has taken action to seek for settlement of the overdue receivables from Hsin Chong Group pursuant to the 2018 Settlement Agreement;
- (iii) the Group will closely monitor the cash flow requirement before submitting new tenders to ensure any additional working capital commitment will not cast doubt on the Group's ability to continue as a going concern;
- (iv) the Group will continue to take active measures to control administrative costs through various channels; and
- (v) the Group will seek for new credit facilities from other banks and financial institutions, if necessary.
Since the year end, there have been no changes in the risk management department or in any risk management policies.
於2019年6月30日,本集團未符合銀行貸款港 幣114,000,000元之財務比率規定,其可能導致 該等借貸須即時償還。有關之財務比率從2016 年底起並未符合。鑑於有關情況,於評估本集 團是否擁有充足財務資源繼續以持續基準經營 時,本公司董事已審慎考慮本集團的未來流動 資金及表現以及可動用的資金來源。本集團已 採取若干措施減輕流動資金壓力及改善其財務 狀況,包括但不限於以下各項:
- (i) 本集團已就重續相關銀行融資與銀行溝 通,而貸方並無要求立即還款;
- (ii) 本集團採取行動尋求新昌集團根據2018 年還款協議結付逾期應收賬款;
- (iii) 本集團於提交新標書前將密切監察現金 流量需要,確保任何額外營運資金承擔 將不會令本集團按持續經營基準營運的 能力存疑;
- (iv) 本集團將繼續採取積極措施,透過不同 渠道控制行政成本;及
- (v) 本集團將於有需要時向其他銀行及金融 機構尋求新信貸融資。
自年末起,風險管理部或任何風險管理政策並 無任何變動。
中期簡明綜合財務報表附註
3 Changes in accounting policies
The impact of the adoption of HKFRS 16 Leases has been summarised in below. The other new or amended HKFRSs that are effective from 1 January 2019 did not have any significant impact on the Group's accounting policies.
(i) Impact of the adoption of HKFRS 16
HKFRS 16 brings significant changes in accounting treatment for lease accounting, primarily for accounting for lessees. It replaces HKAS 17 Leases ("HKAS 17"), HK(IFRIC)-Int 4 Determining whether an Arrangement contains a Lease, HK(SIC)-Int 15 Operating Leases-Incentives and HK(SIC)-Int 27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. From a lessee's perspective, almost all leases are recognised in the statement of financial position as a rightof-use assets and a lease liabilities, with the narrow exception to this principle for leases which the underlying assets are of low-value or are determined as short-term leases. From a lessor's perspective, the accounting treatment is substantially unchanged from HKAS 17. For details of HKFRS 16 regarding its new definition of a lease, its impact on the Group's accounting policies and the transition method adopted by the Group as allowed under HKFRS 16, please refer to section (ii) to (v) of this note.
The Group has applied HKFRS 16 using the cumulative effect approach and recognised all the cumulative effect of initially applying HKFRS 16 as an adjustment to the opening balance of retained earnings at the date of initial application. The comparative information presented in 2018 has not been restated and continues to be reported under HKAS 17 and related interpretations as allowed by the transition provision in HKFRS 16.
3 會計政策變動
採納香港財務報告準則第16號租賃的影響概述 如下。自2019年1月1日起生效的其他新訂或 經修訂香港財務報告準則對本集團的會計政策 並無任何重大影響。
(i) 採納香港財務報告準則第16號之影響 香港財務報告準則第16號對租賃會計的 會計處理作出重大更改,主要是承租人 的會計處理方面。其取代香港會計準則 第17號租賃(「香港會計準則第17號」)、 香港(國際財務報告詮釋委員會)-詮釋 第4號釐定安排是否包括租賃、香港(準 則詮釋委員會)-詮釋第15號經營租賃 — 優惠及香港(準則詮釋委員會)-詮釋 第27號評估涉及租賃法律形式交易之內 容。從承租人角度來看,絕大部分租賃 於財務狀況表確認為使用權資產及租賃 負債,惟相關資產價值較低或被釐定為 短期租賃的租賃該原則的例外情況除外。 從出租人角度來看,會計處理大致與香 港會計準則第17號一致。有關香港財務 報告準則第16號對租賃的新定義、其對 本集團會計政策的影響以及香港財務報 告準則第16號項下准許本集團採納的過 渡方法的詳情,請參閱本附註第(ii)至(v) 條。
本集團已採用累計影響法應用香港財務 報告準則第16號,並於初次應用日期確 認首次應用香港財務報告準則第16號的 所有累計影響為期初保留溢利結餘的調 整。2018年呈列的比較資料概無予以重 列並繼續根據香港會計準則第17號及香 港財務報告準則第16號過渡條文準許的 相關詮釋呈報。
27
The impact of transition to HKFRS 16 on statement of financial position as of 31 December 2018 to that of 1 January 2019 are summarised as follows (increase/(decrease)):
過渡至香港財務報告準則第16號對截至 2018年12月31日 至2019年1月1日 的 財 務狀況表的影響概述如下(增加╱(減 少)):
| HK\$'000 港幣千元 |
||
|---|---|---|
| Statement of financial position as at 1 January 2019 |
2019年1月1日的財務狀況表 | |
| Right-of-use assets presented in property, | 於物業、機器及設備呈列的使用權 | |
| plant and equipment | 資產 | 14,946 |
| Payables and accruals | 應付賬款及累計費用 | 2,836 |
| Lease liabilities (non-current) | 租賃負債(非流動部分) | 2,468 |
| Lease liabilities (current) | 租賃負債(流動部分) | 10,963 |
| Retained earnings | 保留溢利 | (1,321) |
The following reconciliation explains how the operating lease commitments disclosed applying HKAS 17 at the end of 31 December 2018 could be reconciled to the lease liabilities at the date of initial application recognised in the statement of financial position as at 1 January 2019:
以下對賬闡述於2018年12月31日末應用 香港會計準則第17號披露的經營租賃承 擔與於2019年1月1日的財務狀況表確認 於首次應用日期的租賃負債之對賬情況:
| HK\$'000 港幣千元 |
||
|---|---|---|
| Reconciliation of operating lease commitment to lease liabilities |
經營租賃承擔與租賃負債對賬 | |
| Operating lease commitment as of 31 December 2018 Future interest expenses |
於2018年12月31日的經營租賃承擔 將來利息開支 |
14,283 (852) |
| Total lease liabilities as of 1 January 2019 | 於2019年1月1日的租賃負債總額 | 13,431 |
| Of which are: | 其中有: | |
| Current lease liabilities | 流動租賃負債 | 10,963 |
| Non-current lease liabilities | 非流動租賃負債 | 2,468 |
| 13,431 |
The weighted average lessee's incremental borrowing rate applied to lease liabilities recognised in the statement of financial position as at 1 January 2019 is 4.7%.
於2019年1月1日的財務狀況表確認的租 賃負債適用的加權平均承租人增量借款 利率為4.7%。
中期簡明綜合財務報表附註
(ii) The new definition of a lease
Under HKFRS 16, a lease is defined as a contract, or part of a contract, that conveys the right to use an asset (the underlying asset) for a period of time in exchange for consideration. A contract conveys the right to control the use of an identified asset for a period of time when the customer, throughout the period of use, has both: (a) the right to obtain substantially all of the economic benefits from use of the identified asset and (b) the right to direct the use of the identified asset.
For a contract that contains a lease component and one or more additional lease or non-lease components, a lessee shall allocate the consideration in the contract to each lease component on the basis of the relative stand-alone price of the lease component and the aggregate stand-alone price of the non-lease components, unless the lessee apply the practical expedient which allows the lessee to elect, by class of underlying asset, not to separate non-lease components from lease components, and instead account for each lease component and any associated non-lease components as a single lease component.
The Group has elected not to separate non-lease components and account for all each lease component and any associated non-lease components as a single lease component for all leases.
(iii) Accounting as a lessee
Under HKAS 17, a lessee has to classify a lease as an operating lease or a finance lease based on the extent to which risks and rewards incidental to ownership of a lease asset lie with the lessor or the lessee. If a lease is determined as an operating lease, the lessee would recognise the lease payments under the operating lease as an expense over the lease term. The asset under the lease would not be recognised in the statement of financial position of the lessee.
(ii) 租賃的新定義
根據香港財務報告準則第16號,租賃被 定義為一項合約或合約的一部分以代價 於一段時間內獲得資產(相關資產)的使 用權。當客戶於整個使用期間同時:(a) 有權獲取使用已識別資產帶來的絕大部 分經濟利益及(b)有權指示已識別資產的 用途時,合約附帶權利可於一段時間內 控制已識別資產的用途。
就含有租賃部分以及一項或多項額外租 賃或非租賃部分的合約而言,承租人須 將合約代價分配至各租賃部分,基準是 租賃部分的相對獨立價格及非租賃部分 的總獨立價格,除非承租人應用實際權 宜方法使承租人可按相關資產類別選擇 不從租賃部分中區分非租賃部分,而是 將各租賃部分及任何相關非租賃部分入 賬列作單一租賃部分。
本集團已選擇不區分非租賃部分並將所 有各租賃部分及任何相關非租賃部分入 賬列作單一租賃部分。
(iii) 作為承租人的會計處理
根據香港會計準則第17號,承租人須根 據租賃資產擁有權隨附風險及回報與出 租人或承租人的相關程度將租賃分類為 經營租賃或融資租賃。倘租賃釐定為經 營租賃,承租人將於租賃期內將經營租 賃項下的租賃付款確認為開支。租賃項 下的資產將不會於承租人的財務狀況表 內確認。
29
Under HKFRS 16, all leases (irrespective of they are operating leases or finance leases) are required to be capitalised in the statement of financial position as right-of-use assets and lease liabilities, but HKFRS 16 provides accounting policy choices for an entity to choose not to capitalise (i) leases which are shortterm leases and/or (ii) leases for which the underlying asset is of low-value. The Group has elected not to recognise right-ofuse assets and lease liabilities for low-value assets and leases for which at the commencement date have a lease term less than 12 months. The lease payments associated with those leases have been expensed on straight-line basis over the lease term.
The Group recognised a right-of-use asset and a lease liability at the commencement date of a lease.
Right-of-use asset
The right-of-use asset should be recognised at cost and would comprise: (i) the amount of the initial measurement of the lease liability (see below for the accounting policy to account for lease liability); (ii) any lease payments made at or before the commencement date, less any lease incentives received; (iii) any initial direct costs incurred by the lessee; and (iv) an estimate of costs to be incurred by the lessee in dismantling and removing the underlying asset to the condition required by the terms and conditions of the lease, unless those costs are incurred to produce inventories. Except for right-of-use asset that meets the definition of an investment property or a class of property, plant and equipment to which the Group applies the revaluation model, the Group measures the rightof-use assets applying a cost model. Under the cost model, the Group measures the right-to-use at cost, less any accumulated depreciation and any impairment losses, and adjusted for any remeasurement of lease liability. For right-ofuse asset that meets the definition of an investment property, they are carried at fair value and for right-of-use asset that meets the definition of a leasehold land and buildings held for own use, they are carried at fair value.
根據香港財務報告準則第16號,所有租 賃(不論為經營租賃或融資租賃)須於財 務狀況表資本化為使用權資產及租賃負 債,惟香港財務報告準則第16號為實體 提供會計政策選擇,可選擇不將(i)屬短 期租賃的租賃及╱或(ii)相關資產為低價 值的租賃進行資本化。本集團已選擇不 就低價值資產以及於開始日期租賃期少 於12個月的租賃確認使用權資產及租賃 負債。與該等租賃相關的租賃付款已於 租賃期內按直線法攤銷。
本集團於租賃開始日期確認使用權資產 及租賃負債。
使用權資產
使用權資產應按成本確認並將包括:(i) 初步計量租賃負債的金額(見下文有關租 賃負債入賬的會計政策);(ii)於開始日期 或之前作出的任何租賃付款減已收取的 任何租賃獎勵;(iii)承租人產生的任何初 步直接成本;及(iv)承租人將相關資產分 解及移除至合約條款及條件規定的狀況 將產生的估計成本,除非該等成本乃為 生產存貨而產生則除外。除使用權資產 符合投資物業定義或本集團對其應用重 估模型的物業、機器及設備類別外,本 集團採用成本模式計量使用權資產。根 據成本模式,本集團按成本減任何累計 折舊及任何減值虧損計量使用權資產, 並就租賃負債的任何重新計量作出調整。 符合投資物業定義的使用權資產按公允 值列賬,而符合持有自用租賃土地及樓 宇定義的使用權資產按公允值列賬。
For the Group, carparks that were held for rental or capital appreciation purpose would continue to be accounted for under HKAS 40 and would be carried at fair value. For leasehold land and buildings which is held for own use would continue to be accounted for under HKAS 16 and would be carried at fair value. The adoption of HKFRS 16 therefore does not have any significant impact on these right-of-use assets. Other than the above right-of-use assets, the Group also has leased a number of properties under tenancy agreements which the Group exercises it judgement and determines that it is a separate class of asset apart from the leasehold land and buildings which is held for own use. As a result, the right-ofuse asset arising from the properties under tenancy agreements are carried at depreciated cost.
Lease liability
The lease liability should be recognised at the present value of the lease payments that are not paid at the date of commencement of the lease. The lease payments shall be discounted using the interest rate implicit in the lease, if that rate can be readily determined. If that rate cannot be readily determined, the Group shall use the Group's incremental borrowing rate.
The following payments for the right-to-use the underlying asset during the lease term that are not paid at the commencement date of the lease are considered to be lease payments: (i) fixed payments less any lease incentives receivable: (ii) variable lease payments that depend on an index or a rate, initially measured using the index or rate as at commencement date; (iii) amounts expected to be payable by the lessee under residual value guarantees; (iv) the exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and (v) payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the lease.
就本集團而言,持作租賃或資本升值用 途的停車場應繼續根據香港會計準則第 40號入賬及應按公允值列賬。持有自用 租賃土地及樓宇應繼續根據香港會計準 則第16號入賬及應按公允值列賬。因此, 採納香港財務報告準則第16號不會對該 等使用權資產造成任何重大影響。除上 述使用權資產外,本集團亦根據租賃協 議租賃多項物業,本集團對其行使判斷 及釐定其是否有別於持有自用租賃土地 及樓宇的另一資產類別。因此,租賃協 議項下物業產生的使用權資產按折舊成 本列賬。
租賃負債
租賃負債應按並非於租賃開始日期支付 之租賃付款的現值確認。倘該利率可輕 易釐定,租賃付款將採用租賃暗含的利 率貼現。倘該利率無法輕易釐定,本集 團將採用本集團的增量借款利率。
下列並非於租賃開始日期支付的租賃期 內就相關使用權資產支付的款項被視為 租賃付款:(i)固定付款減任何應收租賃 獎勵;(ii)初步按開始日期之指數或利率 計量的浮動租賃付款(取決於指數或利 率);(iii)承租人根據剩餘價值擔保預期應 支付的款項;(iv)倘承租人合理確定行使 購買選擇權,該選擇權的行使價;及(v) 倘租賃期反映承租人行使選擇權終止租 賃,終止租賃的罰款付款。
Subsequent to the commencement date, a lessee shall measure the lease liability by: (i) increasing the carrying amount to reflect interest on the lease liability; (ii) reducing the carrying amount to reflect the lease payments made; and (iii) remeasuring the carrying amount to reflect any reassessment or lease modifications, e.g., a change in future lease payments arising from change in an index or rate, a change in the lease term, a change in the in substance fixed lease payments or a change in assessment to purchase the underlying asset.
(iv) Accounting as a lessor
The Group has leased out its investment property to a number of tenants. As the accounting under HKFRS 16 for a lessor is substantially unchanged from the requirements under HKAS 17, the adoption of HKFRS 16 does not have significant impact on these interim condensed consolidated financial statements.
(v) Transition
As mentioned above, the Group has applied HKFRS 16 using the cumulative effect approach and recognised all the cumulative effect of initially applying HKFRS 16 as an adjustment to the opening balance of retained earnings at the date of initial application (1 January 2019). The comparative information presented in 2018 has not been restated and continues to be reported under HKAS 17 and related interpretations as allowed by the transition provision in HKFRS 16.
The Group has recognised the lease liabilities at the date of 1 January 2019 for leases previously classified as operating leases applying HKAS 17 and measured those lease liabilities at the present value of the remaining lease payments, discounted using the lessee's incremental borrowing rate at 1 January 2019.
於開始日期後,承租人將計量租賃負債: (i)增加賬面值以反映租賃負債的利息;(ii) 減少賬面值以反映作出的租賃付款;及 (iii)重新計量賬面值以反映任何重估或租 賃修改,如指數或利率變動導致日後租 賃付款變動、租賃期變動、實質固定租 賃付款變動或購買相關資產的評估變動。
(iv) 出租人的會計處理
本集團出租其投資物業予多名租戶。由 於香港財務報告準則第16號項下出租人 的會計處理與香港會計準則第17號項下 規定大致不變,採納香港財務報告準則 第16號對該等中期簡明綜合財務報表並 無重大影響。
(v) 過渡
承如上文所述,本集團已採用累計影響 法及於初次應用日期(2019年1月1日)確 認初次應用香港財務報告準則第16號的 所有累計影響為期初保留溢利結餘的調 整。2018年呈列的比較資料概無予以重 列並繼續根據香港會計準則第17號及香 港財務報告準則第16號過渡條文准許的 相關詮釋呈報。
本集團已於2019年1月1日就先前應用香 港會計準則第17號分類為經營租賃的租 賃確認租賃負債並採用於2019年1月1日 的承租人增量借款利率貼現按餘下租賃 付款的現值計量該等租賃負債。
The Group has elected to recognise all the right-of-use assets at 1 January 2019 for the leases previously classified as operating leases under HKAS 17 as if HKFRS 16 had been applied since the commencement date, but discounted using the lessee's incremental borrowing rate at the date of initial application. For all these right-of-use assets, the Group has applied HKAS 36 Impairment of Assets at 1 January 2019 to assess if there was any impairment as on that date.
The Group has also applied the follow practical expedients: (i) applied a single discount rate to a portfolio of leases with reasonably similar characteristics; and (ii) used hindsight in determining the lease terms if the contracts contain options to extend or terminate the leases.
In addition, the Group has also applied the practical expedients such that: (i) HKFRS 16 is applied to all of the Group's lease contracts that were previously identified as leases applying HKAS 17 and HK(IFRIC)-Int 4 Determining whether an Arrangement contains a Lease and (ii) not to apply HKFRS 16 to contracts that were not previously identified as containing a lease under HKAS 17 and HK(IFRIC)-Int4.
4 Critical accounting estimates and judgements
The preparation of interim financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. Actual results may differ from these estimates.
In the preparation of these interim condensed consolidated financial statements, the significant judgements made by the management in applying the Group's accounting policies and the key sources of estimation of uncertainties were the same as those that applied to the consolidated financial statements for the year ended 31 December 2018.
本集團已選擇於2019年1月1日就先前根 據香港會計準則第17號分類為經營租賃 的租賃確認所有使用權資產,猶如香港 財務報告準則第16號自開始日期起已經 應用,惟採用初步應用日期的承租人增 量借款利率進行貼現。就所有該等使用 權資產而言,本集團已於2019年1月1日 應用香港會計準則第36號資產減值以評 估該日是否有任何減值。
本集團亦已應用下列實際權宜方法:(i) 就具有合理相似特徵的租賃組合應用單 一貼現率;及(ii)倘合約載有延長或終止 租賃的選擇權,則於事後釐定租賃期。
此外,本集團亦已應用實際權宜方法以 便:(i)將香港財務報告準則第16號應用 於本集團先前應用香港會計準則第17號 及香港(國際財務報告詮釋委員會)-詮 釋第4號釐定安排是否包括租賃識別為租 賃的所有租賃合約及(ii)並無將香港財務 報告準則第16號應用於先前並無根據香 港會計準則第17號及香港(國際財務報 告詮釋委員會)-詮釋第4號識別為含有 租賃的合約。
4 重大會計估算及判斷
編製中期財務報表需要管理層作出會影響會計 政策應用及資產及負債、收入及開支的呈報金 額之判斷、估算及假設。實際結果可能與該等 估算有出入。
編製該等中期簡明綜合財務報表時,管理層應 用本集團的會計政策及估算不確定因素的主要 來源時所作出的重大判斷與截至2018年12月 31日止年度之綜合財務報表所應用者相同。
As at 30 June 2019, the Group had certain claims over its contract assets and receivables in respect of disputes or prolonged negotiation between the Group and the employers in certain building construction contracts. The Group is closely monitoring the development of these contracts and has been negotiating with the employers or seeking relevant resolutions. The Directors are of the view that the carrying value of the balances as at 30 June 2019 would be fully recoverable. The determination of the recoverability involved significant management estimation.
The Group assesses on a forward looking basis the expected credit losses associated with its contract assets and receivables under HKFRS 9. The impairment methodology applied depends on whether there has been a significant increase in credit risk. In order to make that assessment, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition and consider reasonable and supportable information, that is available without undue cost or effort, that is indicative of significant increases in credit risk since initial recognition. Significant estimates and judgements are required in determining the amount that is not recoverable and the forecast of future economic conditions.
5 Segment Information
In accordance with the Group's internal financial report provided to the chief operating decision-maker, identified as the Executive Committee, who is responsible for allocating resources, assessing performance of the operating segments and making strategic decisions, the reportable operating segments and their results are as below:
- property and facility management services in Hong Kong;
- property and facility management services in China;
- ancillary business including integrated procurement, laundry, cleaning, security, maintenance and technical support services; and
- interiors and special projects.
於2019年6月30日,本集團就合約資產及應收 賬款就本集團與僱主在某些建築施工合約中的 糾紛或長期談判提出若干索償。本集團正密切 監察這些合約的發展,並一直與僱主磋商或尋 求有關決議。董事認為,截至2019年6月30日 的結餘賬面值可全數收回。可收回性的確定涉 及重大的管理估算。
本集團以前瞻基準評估與香港財務報告準則第 9號之合約資產及應收賬款有關的預期信貸虧 損。所用之減值方法取決於信貸風險是否顯著 增加。為作出該評估,本集團比較報告日期金 融工具產生的違約風險及於初步確認時金融工 具產生的違約風險,並考慮在毋須付出不必要 成本或努力而可獲得顯示自初步確認信貸風險 顯著增加的合理及支持資料。釐定不可收回的 金額以及預測未來經濟狀況時需要重大估算及 判斷。
5 分部資料
根據提呈予本集團之營運決策者即執行委員會 (其負責調配資源、為各營運分部評估表現及 作策略性決定)之內部財務報告,本集團須予 呈報之營運分部及其業績如下:
- 香港之物業及設施管理服務;
- 中國之物業及設施管理服務;
- 輔助業務,包括綜合採購、洗衣、清潔、 保安、維修及技術支援服務;及
- 室內裝飾及特殊項目。
中期簡明綜合財務報表附註
| Six months ended 30 June 2019 (in HK\$'000) 截至2019年6月30日止六個月(港幣千元) |
||||||||
|---|---|---|---|---|---|---|---|---|
| PFM Hong Kong China |
Ancillary Business |
PFM Business |
ISP Business |
Corporate Overhead |
Total | |||
| 物業及設施管理 | 物業及設施 | 室內裝飾及 | ||||||
| 香港 | 中國 | 輔助業務 | 管理業務 | 特殊項目業務 | 行政費用 | 總計 | ||
| Revenue | 收益 | |||||||
| — At a point in time | — 於某一時間點 | – | – | 7,790 | 7,790 | – | – | 7,790 |
| — Over time | — 一段時間 | 296,199 | 4,574 | 57,525 | 358,298 | 370,867 | – | 729,165 |
| 296,199 | 4,574 | 65,315 | 366,088 | 370,867 | – | 736,955 | ||
| Gross profit | 毛利 | 32,413 | 2,973 | 13,780 | 49,166 | 27,941 | – | 77,107 |
| General and administrative | 一般及行政開支 | |||||||
| expenses | (18,734) | (2,996) | (8,228) | (29,958) | (14,928) | (4,423) | (49,309) | |
| Doubtful debts recovery | 收回壞賬 | – | 89 | – | 89 | – | – | 89 |
| Impairment of receivables | 應收賬款之減值 | (348) | 2 | (62) | (408) | – | – | (408) |
| 13,331 | 68 | 5,490 | 18,889 | 13,013 | (4,423) | 27,479 | ||
| Interest expenses | 利息開支 | (154) | (2,366) | (791) | (3,311) | |||
| Other income | 其他收入 | 1,443 | 159 | – | 1,602 | |||
| Profit before taxation | 除稅前溢利 | 20,178 | 10,806 | (5,214) | 25,770 | |||
| Taxation | 稅項 | (2,712) | (2,578) | – | (5,290) | |||
| Profit for the period | 期內溢利 | 17,466 | 8,228 | (5,214) | 20,480 |
| Six months ended 30 June 2018 (in HK\$'000) 截至2018年6月30日止六個月(港幣千元) |
||||||||
|---|---|---|---|---|---|---|---|---|
| PFM | Ancillary | PFM | ISP | Corporate | ||||
| Hong Kong 物業及設施管理 |
China | Business | Business 物業及設施 |
Business 室內裝飾及 |
Overhead | Total | ||
| 香港 | 中國 | 輔助業務 | 管理業務 | 特殊項目業務 | 行政費用 | 總計 | ||
| Revenue | 收益 | |||||||
| — At a point in time | — 於某一時間點 | – | – | 10,555 | 10,555 | – | – | 10,555 |
| — Over time | — 一段時間 | 271,452 | 23,449 | 41,137 | 336,038 | 393,738 | – | 729,776 |
| 271,452 | 23,449 | 51,692 | 346,593 | 393,738 | – | 740,331 | ||
| Gross profit | 毛利 | 30,214 | 5,982 | 9,853 | 46,049 | 29,292 | – | 75,341 |
| General and administrative | 一般及行政開支 | |||||||
| expenses | (21,598) | (8,158) | (9,413) | (39,169) | (24,033) | (5,335) | (68,537) | |
| Doubtful debts recovery | 收回壞賬 | 41 | – | – | 41 | – | – | 41 |
| Impairment of receivables | 應收賬款之減值 | 37 | (3,095) | (473) | (3,531) | (403) | – | (3,934) |
| 8,694 | (5,271) | (33) | 3,390 | 4,856 | (5,335) | 2,911 | ||
| Interest expenses | 利息開支 | – | (1,543) | (1,236) | (2,779) | |||
| Loss on disposal of subsidiaries | 出售附屬公司虧損 | – | (623) | – | (623) | |||
| Other income | 其他收入 | 2,166 | – | – | 2,166 | |||
| Profit before taxation | 除稅前溢利 | 5,556 | 2,690 | (6,571) | 1,675 | |||
| Taxation | 稅項 | (1,135) | (436) | – | (1,571) | |||
| Profit for the period | 期內溢利 | 4,421 | 2,254 | (6,571) | 104 |
Note: Corporate overhead mainly represents corporate and administrative activities, and shared services.
附註: 行政費用主要為公司及行政活動,以及共享服務。
中期簡明綜合財務報表附註
6 Interest Expenses
6 利息開支
| HK\$'000 | Six months ended 30 June 截至6月30日止六個月 |
||
|---|---|---|---|
| 港幣千元 | 2019 | 2018 | |
| Interest expenses on bank loans Interest expenses on lease liabilities |
銀行貸款利息開支 租賃負債利息開支 |
3,033 278 |
2,779 – |
| 3,311 | 2,779 |
7 Profit Before Taxation
7 除稅前溢利
| HK\$'000 港幣千元 |
Six months ended 30 June 截至6月30日止六個月 2019 |
2018 | |
|---|---|---|---|
| Profit before taxation is arrived after charging/(crediting): |
除稅前溢利已扣除╱(計入) 下列各項: |
||
| Staff costs, including directors' emoluments | 員工成本(包括董事酬金) | 329,645 | 346,266 |
| Depreciation of property, plant | 物業、機器及設備折舊 | ||
| and equipment | 3,441 | 3,804 | |
| Depreciation of right-of-use assets | 使用權資產折舊 | 6,554 | – |
| Short-term lease expenses | 短期租賃 | 339 | – |
| Loss on disposal of property, | 出售物業、機器及設備之虧損 | ||
| plant and equipment | 102 | 26 | |
| Rental income from investment properties | 投資物業之租賃收入 | (204) | (187) |
| Fair value gain on investment properties | 投資物業之公允值收益 | (200) | (800) |
| Bank interest income | 銀行利息收入 | (303) | (145) |
| Operating lease rental on land, buildings | 土地、樓宇及辦公室設備之 | ||
| and office equipment | 經營租賃租金 | – | 6,449 |
8 Taxation
Hong Kong profits tax has been provided at the rate of 16.5% (2018: 16.5%) on the estimated assessable profits for the period after application of available tax losses brought forward for both periods.
The amount of tax charged/(credited) to the condensed consolidated statement of profit or loss and other comprehensive income represents:
8 稅項
兩個期間的香港利得稅乃按期內估計應課稅溢 利扣除可動用的稅項虧損結轉及以稅率16.5% (2018年:16.5%)作出撥備。
在簡明綜合損益及其他全面收益表扣除╱(計 入)之稅項金額如下:
| HK\$'000 | Six months ended 30 June 截至6月30日止六個月 |
||
|---|---|---|---|
| 港幣千元 | 2019 | 2018 | |
| Current taxation Hong Kong profits tax — provision for the period — under/(over) provision in prior years |
當期稅項 香港利得稅 — 期內撥備 — 過往年度撥備不足╱ |
4,682 | 2,450 |
| (超額撥備) | 24 | (1) | |
| Deferred taxation | 遞延稅項 | 584 | (878) |
| 5,290 | 1,571 |
9 Earnings Per Share
9 每股盈利
(a) Basic earnings per share is calculated by dividing the Group's unaudited profit attributable to equity holders less dividends (if any) to convertible preference shareholders by the weighted-average number of ordinary shares in issue during the period.
(a) 每股基本盈利乃根據股權持有人應佔本 集團未經審核溢利減可轉換優先股股權 持有人之股息(如有)除以期內已發行普 通股加權平均數計算。
| Six months ended 30 June 截至6月30日止六個月 |
|||
|---|---|---|---|
| 2019 | 2018 | ||
| Profit attributable to equity holders (HK\$'000) |
股權持有人應佔溢利 (港幣千元) |
20,480 | 350 |
| Weighted-average ordinary shares issued ('000) |
已發行普通股加權平均數 (千股) |
424,850 | 424,850 |
| Basic earnings per share (HK cents) | 每股基本盈利(港幣仙) | 4.8 | 0.1 |
中期簡明綜合財務報表附註
- (b) Diluted earnings per share for the period ended 30 June 2019 is calculated by dividing the Group's unaudited profit attributable to the equity holders by the weighted-average ordinary shares outstanding after adjusting for the potential ordinary shares to be issued on convertible preference shares.
- (b) 截至2019年6月30日止期間之每股攤薄 盈利乃於就可轉換優先股將予發行的潛 在普通股作出調整後,根據股權持有人 應佔本集團未經審核溢利除以發行普通 股加權平均數計算。
| Six months ended 30 June 截至6月30日止六個月 |
|||
|---|---|---|---|
| 2019 | 2018 | ||
| Profit attributable to equity holders (HK\$'000) |
股權持有人應佔溢利 (港幣千元) |
20,480 | 350 |
| Weighted-average ordinary shares issued ('000) Adjustments for potential ordinary shares to be issued ('000) |
已發行普通股加權平均數 (千股) 將予發行之潛在普通股之 調整(千股) |
424,850 80,000 |
424,850 80,000 |
| Weighted-average ordinary shares for calculating diluted earnings per share ('000) |
計算每股攤薄盈利之普通股 加權平均數(千股) |
504,850 | 504,850 |
| Diluted earnings per share (HK cents) | 每股攤薄盈利(港幣仙) | 4.1 | 0.1 |
10 Dividend
The Board resolved not to declare interim dividend for the Reporting Period (2018: nil).
11 Property, plant and equipment
As discussed in note 3, the Group has initially applied HKFRS 16 using the full retrospective method and adjusted the opening balances at 1 January 2019 to recognise right-of-use assets relating to leased land and buildings and office equipment which were previously classified as operating leases under HKAS 17. The right-of-use assets amounted to HK\$16,705,000 were recognised as at 30 June 2019.
10 股息
董事會議決不就報告期間宣派中期股息(2018 年:無)。
11 物業、機器及設備
承如附註3所論述,本集團使用全面追溯法初 次應用香港財務報告準則第16號及調整2019年 1月1日的期初結餘,以確認有關租賃土地及樓 宇及辦公室設備,其根據香港會計準則第17號 先前分類為經營租賃,為使用權資產。使用權 資產港幣16,705,000元已於2019年6月30日確認。
12 Investment properties
The Group's investment property and leasehold land and buildings were revalued at 30 June 2019 using the direct comparison method by qualified valuer from Savills Valuation and Professional Services Limited, an independent firm of chartered surveyors using the same valuation techniques which were used by this valuer when carrying out the valuations in December 2018. This method is based on comparing the property to be valued directly with other comparable properties, which have recently transacted. However, given the heterogeneous nature of the properties, appropriate adjustments are usually required to allow for any qualitative differences that may affect the price likely to be achieved by the property under consideration.
As a result of the update of the valuation, a gain of HK\$200,000 (2018: HK\$800,000) has been recognised in the profit or loss for the investment property.
12 投資物業
13 商譽
本集團的投資物業及租賃土地及樓宇於2019年 6月30日由合資格估值師使用直接比較法重新 估值,其由第一太平戴維斯估值及專業顧問有 限公司(獨立特許測量師行)使用該估值師進行 2018年12月估值時使用的相同估值技術進行。 此估值法乃以將予估值之物業與近期交易之其 他比較物業進行直接比較為基礎。然而,由於 各物業之性質互不相同,通常須作出適當調 整,而允許存在可能影響標的物業可能達致之 價格之任何質化差異。
基於估值更新,已就投資物業於損益確認收益 港幣200,000元(2018年:港幣800,000元)。
| 13 | Goodwill |
|---|---|
| HK\$'000 港幣千元 |
||
|---|---|---|
| Cost | 成本 | |
| At 1 January 2018, 31 December 2018 | 於2018年1月1日、2018年12月31日及 | |
| and 30 June 2019 | 2019年6月30日 | 171,794 |
| Accumulated impairment | 累計減值 | |
| At 1 January 2018 | 於2018年1月1日 | (55,000) |
| Impairment charge | 減值金額 | (116,794) |
| At 31 December 2018 and 30 June 2019 | 於2018年12月31日及2019年6月30日 | (171,794) |
| Net Book Value | 賬面淨值 | |
| At 30 June 2019 | 於2019年6月30日 | – |
| At 31 December 2018 | 於2018年12月31日 | – |
In view that ISP Business faced a very challenging business environment and suffered reduction of the outstanding workload for contracts on hand, the business performance of ISP Business is unlikely to be significantly improved in the near future and it is inevitable for the management to make an impairment charge of HK\$55,000,000 and HK\$116,794,000 in 2017 and 2018 respectively for the goodwill generated from the acquisition of ISP Business in late 2012.
考慮到室內裝飾及特殊項目業務面臨極具挑 戰的經營環境及手頭未完成合約工作量減少 及其業務表現不大可能於不久將來有顯著改 善,管理層難免要將2012年年底收購室內裝 飾及特殊項目業務事項產生的商譽分別於 2017年及2018年作出港幣55,000,000元及港 幣116,794,000元的減值。
中期簡明綜合財務報表附註
14 Receivables, Deposits and Prepayments
The credit period of the Group's accounts receivable generally ranges from 30 to 60 days. (31 December 2018: 30 to 60 days). The ageing analysis of accounts receivable by invoice date is as follows:
14 應收賬款、按金及預付款項
本集團應收賬款之信貸期一般介乎30至60日 (2018年12月31日:30至60日)。按發票日期 分類之應收賬款之賬齡分析如下:
| HK\$'000 港幣千元 |
30 June 2019 2019年6月30日 |
31 December 2018 2018年12月31日 |
|
|---|---|---|---|
| Accounts receivable | 應收賬款 | ||
| 0 to 30 days | 0至30日 | 114,404 | 145,452 |
| 31 to 60 days | 31至60日 | 38,957 | 41,098 |
| 61 to 90 days | 61至90日 | 17,321 | 14,516 |
| Over 90 days | 90日以上 | 128,111 | 117,934 |
| 298,793 | 319,000 | ||
| Retention receivables and | 應收保固金及其他應收款項 | ||
| other receivables | 149,215 | 155,795 | |
| Receivables | 應收賬款 | 448,008 | 474,795 |
| Deposits and prepayments | 按金及預付款項 | 24,694 | 22,188 |
| 472,702 | 496,983 | ||
| Impairment of accounts receivable, | 應收賬款、應收保固金及 | ||
| retention receivables and | 其他應收款項減值 | ||
| other receivables | (94,111) | (94,812) | |
| 378,591 | 402,171 |
Retention receivables in respect of the contract works business are settled in accordance with the terms of the respective contracts. At 30 June 2019, retention receivables held by customers for contract works amounting to approximately HK\$13,716,000 (31 December 2018: HK\$19,028,000) are expected to be recovered or settled in more than 12 months from the end of the Reporting Period.
At 30 June 2019, over 95% of the impairment of receivables which was related to Hsin Chong Group (31 December 2018: 95%). The management considered that there are no further material balances with Hsin Chong Group.
The maximum exposure to credit risk at the reporting date is the carrying value of the receivables mentioned above. The Group does not hold any collateral as security.
承建業務的應收保固金乃根據相關合約條款結 付。於2019年6月30日,客戶就合約工程持有 的應收保固金為約港幣13,716,000元(2018年12 月31日:港幣19,028,000元),預期於報告期間 末起計12個月後收回或結付。
於2019年6月30日,超過95%的應收賬款減值 與新昌集團有關(2018年12月31日:95%)。管 理層認為已再沒有與新昌集團之重大結餘。
於報告日期所面臨之最高信貸風險為上述應收 賬款之賬面值。本集團並無持有任何抵押品作 抵押。
15 Payables and Accruals
The credit period of the Group's accounts payable generally ranges from 30 to 60 days. (31 December 2018: 30 to 60 days). The ageing analysis of accounts payable by invoice date is as follows:
15 應付賬款及應計費用
本集團應付賬款之信貸期一般介乎30至60日 (2018年12月31日:30至60日)。按發票日期 分類之應付賬款之賬齡分析如下:
| HK\$'000 港幣千元 |
30 June 2019 2019年6月30日 |
31 December 2018 2018年12月31日 |
|
|---|---|---|---|
| Accounts payable | 應付賬款 | ||
| 0 to 30 days | 0至30日 | 268,528 | 323,386 |
| 31 to 60 days | 31至60日 | 15,388 | 17,822 |
| 61 to 90 days | 61至90日 | 12,758 | 5,727 |
| Over 90 days | 90日以上 | 39,935 | 34,011 |
| 336,609 | 380,946 | ||
| Retention payables, other payables | 應付保固金、其他應付款項及 | ||
| and accruals | 應計費用 | 179,505 | 188,837 |
| 516,114 | 569,783 |
16 Bank Loans
16 銀行貸款
| HK\$'000 港幣千元 |
30 June 2019 2019年6月30日 |
31 December 2018 2018年12月31日 |
|
|---|---|---|---|
| Portion due for repayment within one year Portion due for repayment in the second year, which contains |
第1年內到期償還部分 第2年到期償還部分, 附帶按要求償還條款 |
144,000 | 144,000 |
| a clause of repayment on demand | – | 22,000 | |
| 144,000 | 166,000 |
中期簡明綜合財務報表附註
Notes:
附註:
- (a) As at 30 June 2019, the Group had bank loans of HK\$144,000,000 (31 December 2018: HK\$166,000,000) denominated in Hong Kong dollars.
- (b) The bank loans of the Group carried weighted average interest rates of 4.7% (31 December 2018: 4.5%) per annum.
- (c) The Group's term loan of HK\$24,000,000 (31 December 2018: HK\$36,000,000) is subject to a floating charge over the assets of the Company and its subsidiaries.
- (d) The Group's revolving loans of HK\$90,000,000 (31 December 2018: HK\$90,000,000) are subject to a floating charge over the assets of the Company and its subsidiaries.
- (e) The Group's bank loan of HK\$114,000,000 (31 December 2018: HK\$126,000,000) is personally guaranteed by an indirect controlling shareholder.
- (f) The carrying amounts of loans approximate their fair values.
- (g) As at 30 June 2019, bank deposit of HK\$10,000,000 (31 December 2018: HK\$10,000,000) is pledged as security for the Group's bank loan of HK\$30,000,000 (31 December 2018: HK\$40,000,000).
17 Share Capital
(a) 於2019年6月30日, 本 集 團 有 銀 行 貸 款 港 幣
- 144,000,000元(2018年12月31日:港幣166,000,000 元)以港幣計值。
- (b) 本集團之銀行貸款的加權平均年利率為4.7%(2018 年12月31日:4.5%)。
- (c) 本集團之有期貸款為港幣24,000,000元(2018年12 月31日:港幣36,000,000元),其乃將本公司及其 附屬公司之資產作浮動押記。
- (d) 本集團之循環貸款為港幣90,000,000元(2018年12 月31日:港幣90,000,000元),其乃將本公司及其 附屬公司之資產作浮動押記。
- (e) 本集團之銀行貸款為港幣114,000,000元(2018年 12月31日:港幣126,000,000元),其乃由間接控 股股東個人作出擔保。
- (f) 貸款的賬面值與其公允值相若。
- (g) 於2019年6月30日, 銀 行 存 款 港 幣10,000,000元 (2018年12月31日:港幣10,000,000元)已作為銀 行貸款港幣30,000,000元(2018年12月31日:港幣 40,000,000元)的抵押。
17 股本
| Number of | |||
|---|---|---|---|
| shares | Amount | ||
| 股份數目 | 金額 | ||
| '000 | HK\$'000 | ||
| 千股 | 港幣千元 | ||
| Issued and fully paid: | 已發行及繳足: | ||
| Ordinary shares | 普通股 | ||
| At 1 January 2019 and 30 June 2019 | 於2019年1月1日及 | ||
| 2019年6月30日 | 424,850 | 42,486 | |
| Convertible preference shares | 可轉換優先股 | ||
| At 1 January 2019 and 30 June 2019 | 於2019年1月1日及 | ||
| 2019年6月30日 | 80,000 | 8,000 | |
| Ordinary shares and convertible preference | 已發行及繳足之普通股及 | ||
| shares issued and fully paid | 可轉換優先股 | ||
| At 30 June 2019 | 於2019年6月30日 | 504,850 | 50,486 |
| At 31 December 2018 | 於2018年12月31日 | 504,850 | 50,486 |
18 Related Party Transactions
Summary of the related party transactions carried out by the Group are as follows:
18 關連人士交易
本集團進行之關連人士交易概要如下:
| HK\$'000 | Note | Six months ended 30 June 截至6月30日止六個月 |
|||
|---|---|---|---|---|---|
| 港幣千元 | 附註 | 2019 | 2018 | ||
| Service charges paid to — Company controlled by a director Services income from — Company with common |
向下列公司支付服務費 — 由一名董事控制之公司 來自下列公司之服務收入 — 有共同控股股東之公司 |
(i) | (148) | (202) | |
| controlling shareholder Maintenance and technical support services income from — Company with common |
來自下列公司之維修及 技術支援服務收入 — 有共同控股股東之公司 |
(ii) | 1,312 | 1,472 | |
| controlling shareholder Contracting work income from — Company with common |
來自下列公司之合約工程收入 — 有共同控股股東之公司 |
(iii) | 1,323 | – | |
| controlling shareholder | (iv) | 22,047 | – | ||
| Notes: | 附註: | ||||
| (i) | Service charges paid in respect of typesetting, translation and printing services were mutually agreed by both parties. |
(i) | 就排版、翻譯及印刷服務支付的服務開支金額乃 由雙方互相協定。 |
||
| (ii) | Services income earned on services including property management, asset management services, consultancy fee, security, laundry, cleaning, etc. rendered |
(ii) | 就提供服務(包括物業管理、資產管理服務、顧問 費、保安、洗衣及清潔等服務)賺取之服務收入, |
(iii) Maintenance and technical support services income represents fees earned on repair and maintenance works. The prices and terms were mutually agreed by both parties.
were mutually agreed by both parties.
(iv) Contracting work's earned from fitting-out projects, were mutually agreed by both parties.
乃按雙方協定而收取。
(iii) 維修及技術支援服務收入指就維修及保養工程賺 取之費用。價格及條款由雙方協定。
(iv) 就裝修項目賺取之合約工程費乃按雙方協定而收 取。
中期簡明綜合財務報表附註
19 Loss on disposal of subsidiaries
Hsin Shun Metal Fabrication Company Limited and Hsin Shun (Dongguan) Metal Fabrication Company Limited*, which are 60% owned subsidiaries of the Company and engaged in provision of direct metal work and curtain wall fabrication, were disposed in June 2018.
19 出售附屬公司之虧損
新順金屬製品有限公司和新順(東莞)金屬製品 有限公司為從事提供直接五金製品及幕牆製造 且本公司擁有60%的附屬公司,於2018年6月 被出售。
| HK\$'000 | ||
|---|---|---|
| 港幣千元 | ||
| Net assets disposed | 已出售資產淨值 | |
| Property, plant & equipment | 物業、機器及設備 | 164 |
| Receivables | 應收賬款 | 1,490 |
| Deposits and prepayments | 按金及預付款項 | 4,177 |
| Cash and cash equivalents | 現金及現金等值 | 1,513 |
| Payables and accruals | 應付賬款及應計費用 | (5,394) |
| Amount due to non-controlling interests | 應付非控股權益款項 | (1,153) |
| Taxation payable | 應付稅項 | (130) |
| 667 | ||
| Non-controlling interests | 非控股權益 | 1,404 |
| Realisation of exchange reserve upon disposal | 出售時變現匯兌儲備 | 152 |
| Net assets disposed | 已出售資產淨值 | 2,223 |
| Consideration | 代價 | 1,600 |
| Net assets disposed | 已出售資產淨值 | (2,223) |
| Loss on disposal of subsidiaries | 出售附屬公司之虧損 | (623) |
| Net cash inflow in respect of the disposal | 出售之現金流入淨額 | |
| Cash received (Note) | 已收現金(附註) | – |
| Cash and cash equivalents disposed of | 出售現金及現金等值 | (1,513) |
| (1,513) |
Note:
附註:
The cash consideration was not yet received as at 30 June 2019, which was recognised as other receivables in the condensed consolidated statement of financial position.
* For identification purposes only
於2019年6月30日尚未收取的現金代價於簡明綜合財務 狀況表確認為其他應收款項。
* 僅供識別
20 Gain on disposal of a subsidiary
ISP Project Services (Vietnam) Company Limited, a wholly owned subsidiary engaged in fitting-out works and construction services in Vietnam, was disposed in December 2018.
20 出售一間附屬公司之收益
位於越南從事裝修工程及建築服務的全資附 屬公司ISP Project Services (Vietnam) Company Limited,於2018年12月被出售。
| HK\$'000 | ||
|---|---|---|
| 港幣千元 | ||
| Net assets disposed | 已出售資產淨值 | |
| Cash and cash equivalents | 現金及現金等值 | 70 |
| Payables and accruals | 應付賬款及應計費用 | (3) |
| Net assets disposed | 已出售資產淨值 | 67 |
| Consideration | 代價 | 250 |
| Net assets disposed | 已出售資產淨值 | (67) |
| Gain on disposal of a subsidiary | 出售一間附屬公司之收益 | 183 |
| Net cash inflow in respect of the disposal | 出售之現金流入淨額 | |
| Cash received (Note) | 已收現金(附註) | – |
| Cash and cash equivalents disposed of | 已出售現金及現金等值 | (70) |
| (70) |
Note:
附註:
The cash consideration was not yet received as at 30 June 2019, which was recognised as other receivables in the condensed consolidated statement of financial position.
於2019年6月30日尚未收取的現金代價於簡明綜合財務 狀況表確認為其他應收款項。
Other Information
其他資料
DIRECTORS' AND CHIEF EXECUTIVES' INTERESTS AND SHORT POSITIONS IN THE SHARES, UNDERLYING SHARES AND DEBENTURES OF THE COMPANY AND ITS ASSOCIATED CORPORATIONS
As at 30 June 2019, none of the Directors or chief executive of the Company had any interests or short positions 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 (Chapter 571 of the Laws of Hong Kong) (the "SFO")), which were required: (a) to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO (including interests and short positions which they are taken or deemed to have under such provisions of the SFO); or (b) pursuant to section 352 of the SFO, to be entered in the register referred to therein; or (c) to be notified to the Company and the Stock Exchange pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers (the "Model Code") as set out in Appendix 10 to the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules").
SHARE OPTION SCHEME
At the annual general meeting of the Company held on 17 June 2013, the Shareholders approved the adoption of a share option scheme. Details of the share option scheme have been disclosed in the 2018 annual report of the Company.
As at 30 June 2019, there were no outstanding share options and there no share options were granted, exercised, cancelled and lapsed under the share option scheme. As at the date of this report, the maximum number of shares available for issue under the share option scheme is 29,600,000, representing approximately 6.97% of the total number of issued shares of the Company (i.e. 424,850,000 ordinary shares) as at 27 August 2019.
董事及行政總裁於本公司及其相聯法團的股份、 相關股份及債券中擁有之權益及淡倉
截至2019年6月30日,本公司董事或行政總裁概無 於本公司或其任何相聯法團(定義見香港法例第571 章證券及期貨條例(「證券及期貨條例」)第XV部)的股 份、相關股份及債券中擁有任何權益或淡倉而須:(a) 根據證券及期貨條例第XV部第7及第8分部知會本公 司及聯交所(包括根據證券及期貨條例有關條文彼等 被當作或視為擁有之權益及淡倉);或(b)根據證券及 期貨條例第352條須記錄於該條所指之登記冊內;或 (c)根據聯交所證券上市規則(「上市規則」)附錄10所 載之上市發行人董事進行證券交易的標準守則(「標 準守則」)須知會本公司及聯交所。
購股權計劃
在本公司於2013年6月17日舉行之股東周年大會上, 股東批准採納購股權計劃。購股權計劃之詳情已披 露於本公司2018年年報內。
於2019年6月30日,概無任何購股權未行使及概無 任何購股權根據購股權計劃授出、行使、註銷及失 效。於本報告日期,根據購股權計劃可發行之股份數 目上限為29,600,000股,佔本公司於2019年8月27日 已發行股份總數(即424,850,000股普通股股份)約 6.97%。
47
Other Information 其他資料
SUBSTANTIAL SHAREHOLDERS' INTERESTS AND SHORT POSITIONS IN THE SHARES AND UNDERLYING SHARES OF THE COMPANY
As at 30 June 2019, the following persons/entities (other than Directors or chief executive of the Company) had or were deemed or taken to have interests and short positions in the shares and underlying shares of the Company as recorded in the register of interests and short positions of substantial shareholders (the "Register of Substantial Shareholders") required to be kept by the Company pursuant to section 336 of the SFO:
Long positions in the shares and underlying shares of the Company
主要股東於本公司股份及相關股份中擁有之權 益及淡倉
截至2019年6月30日,根據證券及期貨條例第336條 本公司須予存置之主要股東權益及淡倉登記冊(「主 要股東登記冊」)所記錄,下列人士╱實體(本公司董 事或行政總裁除外)於本公司股份及相關股份中擁有 或被視為或當作擁有權益及淡倉:
於本公司股份及相關股份之好倉
(A) Ordinary Shares
(A) 普通股股份
| Name of Shareholders 股東名稱 |
Capacity 身份 |
Number of ordinary shares held 持有之普通股 股份數目 (Note (i)) (附註(i)) |
Approximate percentage of interests in the total number of issued shares 佔已發行股份總數 之概約權益百分比 (Note (ii)) (附註(ii)) |
||
|---|---|---|---|---|---|
| Chu Yuet Wah 李月華 |
Interests of controlled corporation 受控法團權益 |
225,518,633 | 53.08 % | ||
| Champ Key Holdings Limited ("Champ Key") |
Beneficial owner 實益擁有人 |
225,518,633 | 53.08 % | ||
| Notes: | 附註: | ||||
| (i) | Champ Key being a company wholly-owned by Mrs. Chu Yuet Wah is deemed to be a controlled corporation of Mrs. Chu Yuet Wah under the SFO. |
(i) | 根據證券及期貨條例,Champ Key(李月華女士全 資擁有之公司)被視為李月華女士之受控法團。 |
||
| (ii) | 2019. | There were 424,850,000 ordinary shares of the Company in issue as at 30 June | (ii) | 為424,850,000股。 | 本公司截至2019年6月30日之已發行普通股股份 |
Other Information
其他資料
Name of shareholders Capacity Number of convertible preference shares held Approximate percentage of interests in the total number of issued shares 股東名稱 身份 持有之可轉換 優先股股份數目 佔已發行股份總數之 概約權益百分比 (Note (i)) (Note (ii)) (附註(i)) (附註(ii)) Chu Yuet Wah Interests of controlled corporation 80,000,000 100% 李月華 受控法團權益 Champ Key Beneficial owner 80,000,000 100% 實益擁有人
Notes:
- 附註:
- (i) The Company issued and allotted 80,000,000 convertible preference shares to Smart Lane Holdings Limited ("Smart Lane"), as part of the consideration for the acquisition of ISP Business in late 2012. As disclosed in the joint announcement of Champ Key and the Company dated 30 November 2016, Champ Key (a company wholly-owned by Mrs. Chu Yuet Wah) as the offeror entered into the sale and purchase agreement with Smart Lane as the vendor of the sale and purchase of 169,116,777 ordinary shares and 80,000,000 convertible preference shares. Champ Key being a company wholly-owned by Mrs. Chu Yuet Wah is deemed to be a controlled corporation of Mrs. Chu Yuet Wah under the SFO.
(ii) There were 80,000,000 convertible preference shares of the Company in issue as at 30 June 2019.
Save as disclosed above, as at 30 June 2019, the Directors were not aware of any persons/entities (other than Directors or chief executive of the Company) who/which had or were deemed or taken to have any other interests or short position in the shares or underlying shares of the Company as recorded in the Register of Substantial Shareholders required to be kept by the Company pursuant to section 336 of the SFO.
(i) 本 公 司 向Smart Lane Holdings Limited(「Smart Lane」)發行及配發80,000,000股可轉換優先股股 份,作為於2012年年底收購室內裝飾及特殊項目 業務之部份代價。誠如Champ Key及本公司日期 為2016年11月30日之聯合公告所披露,由李月華 女士全資擁有之公司Champ Key(作為要約人)與 Smart Lane( 作 為 買 賣169,116,777股 普 通 股 及 80,000,000股可轉換優先股之賣方)訂立買賣協議。 根據證券及期貨條例,Champ Key(李月華女士全 資擁有之公司)被視為李月華女士之受控法團。
(ii) 本公司截至2019年6月30日之已發行可轉換優先 股股份為80,000,000股。
除上文所披露者外,於2019年6月30日,董事並無獲 悉任何人士╱實體(本公司董事或行政總裁除外)於 本公司股份或相關股份中擁有或被視為或當作擁有 記錄於本公司根據證券及期貨條例第336條須存置之 主要股東登記冊之任何其他權益或淡倉。
(B) Convertible Preference Shares
(B) 可轉換優先股股份
Other Information 其他資料
PURCHASE, SALE OR REDEMPTION OF THE COMPANY'S LISTED SECURITIES
Neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company's listed securities during the Reporting Period.
REVIEW OF INTERIM FINANCIAL INFORMATION
PricewaterhouseCoopers ("PwC") resigned as the auditor of the Company with effect from 19 June 2019. As approved by the shareholders at the special general meeting of the Company held on 15 July 2019, BDO Limited was appointed as the new auditor of the Company to fill the casual vacancy arising from the resignation of PwC and to hold office until the conclusion of the next annual general meeting of the Company.
The unaudited interim condensed consolidated financial statements of the Company for the Reporting Period has been reviewed by the Company's external auditor, BDO Limited, in accordance with Hong Kong Standard on Review Engagements 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Hong Kong Institute of Certified Public Accountants. The review report is set out on pages 18 to 19 of this Interim Report.
The Audit Committee comprises three members, namely, Mr. Lau Man Tak (Chairman of the Audit Committee), Mr. Eric Lee Hon Man and Dr. Wong Yun Kuen. With the participation of the management and the Company's external auditor, BDO Limited, the Audit Committee has reviewed the unaudited interim condensed consolidated financial statements of the Company for the Reporting Period.
COMPLIANCE WITH THE MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS
The Board has adopted the Model Code as its own code of conduct for regulating securities transactions by the Directors. Having been made specific enquiries by the Company, all Directors confirmed that they had complied with the required standard set out in the Model Code throughout the Reporting Period.
購買、出售或贖回本公司之上市證券
本公司或其任何附屬公司於報告期間概無購買、出 售或贖回本公司之任何上市證券。
審閱中期財務資料
羅兵咸永道會計師事務所(「羅兵咸永道」)自2019年6 月19日起辭任本公司核數師。於2019年7月15日舉 行之本公司股東特別大會上經股東批准,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,以填補羅兵咸永道所辭任後的臨時空缺,任期至 本公司下屆股東周年大會結束為止。
本公司於報告期間之未經審核中期簡明綜合財務報 表已經由本公司外聘核數師香港立信德豪會計師事 務所有限公司按照香港會計師公會所頒佈之香港審 閱準則第2410號「由實體的獨立核數師執行中期財務 資料審閱」進行審閱。審閱報告載於本中期報告第18 至19頁。
審核委員會由3名成員組成,包括劉文德先生(審核 委員會主席)、李翰文先生及黃潤權博士。本公司於 報告期間之未經審核中期簡明綜合財務報表,已由 審核委員會連同管理層及本公司外聘核數師香港立 信德豪會計師事務所有限公司一併審閱。
遵守董事進行證券交易之標準守則
董事會已採納標準守則作為其規管董事進行證券交 易之操守準則。經本公司向所有董事作出特定查詢 後,所有董事均確認彼等於報告期間內一直遵守標 準守則所規定之標準。
Other Information
其他資料
CHANGES IN DIRECTORS' BIOGRAPHICAL DETAILS
Pursuant to Rule 13.51B(1) of the Listing Rules, the changes in Director's biographical details since the date of the 2018 Annual Report of the Company are set out as follows:
Mr. Kingston Chu Chun Ho
• his position held in Youth Committee of Hong Kong Federation of Dongguan Association has re-designated from Chairman to the Founder Chairman with effect from 30 May 2019.
Ms. Mandy Hui Suk Man
- • was appointed as an Executive Director, the Deputy Chairman of the Board and Authorised Representatives with effect from 24 April 2019.
- • was appointed as the Managing Director for the PFM Business with effect from 24 June 2019.
Mr. Eric Lee Hon Man
• was employed by Orient Finance Holdings (Hong Kong) Limited as managing director of investment banking department and changed to Orient Capital (Hong Kong) Limited with effect from 1 June 2019.
Dr. Wong Yun Kuen
• resigned as an independent non-executive director of Asia Coal Limited (Stock Code: 835) with effect from 6 June 2019, a company delisted from the main board of the Stock Exchange on 18 June 2019.
Updated biographical details of the Directors are also available on the website of the Company.
Save as disclosed above, there is no other change of Directors' biographical details required to be disclosed pursuant to Rule 13.51B(1) of the Listing Rules.
COMPLIANCE WITH CORPORATE GOVERNANCE CODE
The Company has applied the principles in the code provisions and certain recommended best practices set out in the Corporate Governance Code (the "CG Code") as set out in Appendix 14 of the Listing Rules.
During the Reporting Period, the Company complied with all code provisions of the CG Code.
董事履歷詳情變動
根據上市規則第13.51B(1)條,自本公司2018年年報刊 發日期起董事履歷詳情變動列載如下:
朱俊浩先生
• 自2019年5月30日起,彼在香港東莞社團總會 青年委員會的職位由主席調任為創會主席。
許淑敏女士
- 自2019年4月24日起獲委任為執行董事、董事 會副主席及授權代表。
- 自2019年6月24日起獲委任為物業及設施管理 業務董事總經理。
李翰文先生
• 受聘於東方金融控股(香港)有限公司,擔任投 資銀行部董事總經理,並自2019年6月1日起 變更為任職於至東方融資(香港)有限公司。
黃潤權博士
• 自2019年6月6日起辭任亞洲煤業有限公司(一 間自2019年6月18日起於聯交所主板除牌的公 司,股份代號:835)之獨立非執行董事。
董事的更新履歷詳情亦可於本公司網站查閱。
除上文披露者外,概無其他董事履歷詳情變動須根 據上市規則第13.51B(1)條披露。
遵守企業管治守則
本公司已應用上市規則附錄14所載之《企業管治守則》 (「《企業管治守則》」)之守則條文及若干建議最佳常 規之原則。
於報告期間,本公司已遵守《企業管治守則》之所有 守則條文。
Corporate Information
公司資料
| Board of Directors 董事會 |
Kingston Chu Chun Ho (Chairman) 朱俊浩(主席) Mandy Hui Suk Man 許淑敏 (Deputy Chairman and Managing Director for PFM Business) (副主席兼物業及設施 管理業務董事總經理) Lau Man Tak 劉文德 Eric Lee Hon Man 李翰文 Wong Yun Kuen* 黃潤權 * |
Principal Bankers 主要往來銀行 Registered Office 註冊辦事處 Head Office and Principal Place of Business in |
The Hongkong and Shanghai Banking Corporation Limited 香港上海滙豐銀行有限公司 Chong Hing Bank Limited 創興銀行有限公司 O-Bank Co., Ltd. 王道商業銀行股份有限公司 Clarendon House 2 Church Street Hamilton, HM 11 Bermuda 7/F., Linkchart Centre 2 Tai Yip Street |
|---|---|---|---|
Independent Non-executive Director 獨立非執行董事 |
Hong Kong 總辦事處及香港 主要營業地點 |
Kwun Tong, Kowloon Hong Kong 香港九龍觀塘 |
|
| Audit Committee 審核委員會 |
Lau Man Tak (Chairman) 劉文德(主席) |
大業街 2 號 聯卓中心 7 樓 |
|
| Eric Lee Hon Man 李翰文 Wong Yun Kuen 黃潤權 |
Principal Share Registrar and Transfer Agent 主要股份過戶登記處 |
MUFG Fund Services (Bermuda) Limited 4th Floor North Cedar House 41 Cedar Avenue Hamilton HM 12 Bermuda |
|
| Nomination Committee 提名委員會 |
Eric Lee Hon Man (Chairman) 李翰文(主席) Kingston Chu Chun Ho 朱俊浩 Lau Man Tak 劉文德 Wong Yun Kuen 黃潤權 |
Hong Kong Branch Share Registrar and Transfer Office 香港股份過戶登記分處 |
Computershare Hong Kong Investor Services Limited Shops 1712–1716 17th Floor, Hopewell Centre 183 Queen's Road East Wan Chai, Hong Kong 香港中央證券登記有限公司 香港灣仔皇后大道東183號 |
| Remuneration Committee 薪酬委員會 |
Wong Yun Kuen (Chairman) 黃潤權(主席) Kingston Chu Chun Ho 朱俊浩 |
Stock Code 股份代號 |
合和中心17樓1712–1716號舖 02340 |
| Lau Man Tak 劉文德 Eric Lee Hon Man 李翰文 |
Board Lot 每手買賣單位 Website |
4,000 shares 4,000股 www.synergis.com.hk |
|
| Executive Committee 執行委員會 |
Kingston Chu Chun Ho 朱俊浩 Mandy Hui Suk Man 許淑敏 |
網站 E-mail Address 電郵地址 |
[email protected] |
| Company Secretary 公司秘書 |
Eric Chan Kwong Leung 陳鄺良 |
||
| Auditor 核數師 |
BDO Limited 香港立信德豪會計師事務所 有限公司 |
