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Tomson Group Limited — Interim / Quarterly Report 2007
Sep 20, 2007
49075_rns_2007-09-20_169768d3-4518-4873-8d00-05eae4e018e2.pdf
Interim / Quarterly Report
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Interim Report
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2007
Tomson Group Limited Tomson Group Limited
(Incorporated in the Cayman Islands with limited liability) (Incorporated in the Cayman Islands with limited liability)
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
目錄
CONTENTS
| Page | 頁次 | ||
|---|---|---|---|
| Corporate Information | 1 | 公司資料 | 2 |
| Interim Results | 3 | 中期業績 | 4 |
| Interests and Short Positions in Securities | 13 | 證券之權益及淡倉 | 14 |
| Corporate Governance and Other Information | 19 | 企業管治及其他資料 | 20 |
| Condensed Consolidated Income Statement | 21 | 簡明綜合利潤表 | 21 |
| Condensed Consolidated Balance Sheet | 22 | 簡明綜合資產負債表 | 22 |
| Condensed Consolidated Statement of | 簡明綜合收支 | ||
| Recognised Income and Expense | 24 | 確認表 | 24 |
| Condensed Consolidated Cash Flow Statement | 25 | 簡明綜合現金變動表 | 25 |
| Notes to the Condensed Consolidated | 簡明綜合財務報表 | ||
| Financial Statements | 26 | 附註 | 26 |
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
CORPORATE INFORMATION
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DIRECTORS
Executive Directors
Hsu Feng (Chairman and Managing Director) Tong Albert (Vice-Chairman) Chuang Hsiao-Chen
Independent Non-Executive Directors
Tung Wai Yee Cheung Siu Ping, Oscar Lee Chan Fai
COMPANY SECRETARY
Lee Yuen Han
QUALIFIED ACCOUNTANT
Kwok Sau King
REGISTERED OFFICE
Ugland House South Church Street George Town Grand Cayman Cayman Islands British West Indies
PRINCIPAL PLACE OF BUSINESS IN HONG KONG
22nd Floor, AIA Plaza 18 Hysan Avenue Causeway Bay Hong Kong
Telephone: 2848-1668 Facsimile: 2845-0341 E-mail: [email protected]
AUDITORS
Deloitte Touche Tohmatsu
SHARE REGISTRAR IN HONG KONG
Tricor Secretaries Limited 26th Floor, Tesbury Centre 28 Queen’s Road East Wanchai Hong Kong
SHARE LISTING
The Company’s shares are listed on The Stock Exchange of Hong Kong Limited
Stock Code: 258
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
公司資料
董事
執行董事
徐 楓（主席兼董事總經理） 湯子同（副主席） 莊烋真
獨立非執行董事
董慧儀 張兆平 李燦輝
公司秘書
李婉嫻
合資格會計師
郭守敬
註冊辦事處
Ugland House South Church Street George Town Grand Cayman Cayman Islands British West Indies
於香港之主要營業地點
香港 銅鑼灣 希慎道 18號 友邦中心 22樓
電話： 2848-1668 傳真： 2845-0341 電子郵箱： [email protected]
核數師
德勤‧關黃陳方會計師行
於香港之股份過戶登記處
卓佳秘書商務有限公司 香港 灣仔 皇后大道東 28號 金鐘匯中心 26樓
股份上市
本公司之股份於 香港聯合交易所有限公司上市 股份代號： 258
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
INTERIM RESULTS
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The Board of Directors of the Company (the “Board”) is pleased to present the unaudited condensed consolidated financial statements of the Company and its subsidiaries (altogether the “Group”) for the first six months of 2007, details thereof are shown on pages 21 to 43 of this Report. The Audit Committee of the Board has reviewed the condensed consolidated financial statements.
GENERAL OVERVIEW
The Group recorded a consolidated net profit attributable to shareholders of the Company of approximately HK$160.51 million for the first half of 2007 (2006: HK$52.17 million). The basic earnings per share for the period under review was 12.18 HK cents (2006: 4.12 HK cents). A rise in profit for the six months ended 30th June, 2007 as compared with that for the corresponding period in 2006 was principally attributable to a gain on disposal of and a receipt of dividends from longterm equity investments of the Group which altogether contributed approximately HK$127.34 million to the Group.
However, an increase of approximately HK$29.81 million in the provision for deferred tax of the Group for the period under review was resulted from an increase in applicable tax rate owing to a unification of the income tax treatment of domestic and foreign enterprises in the Mainland China with effect from 1st January, 2008.
On the other hand, the Group recorded a turnover for the first six months in 2007 amounting to approximately HK$252.46 million, of which property development and investment remained the principal contributor.
The Board does not recommend a payment of an interim dividend for the six months ended 30th June, 2007 (2006: Nil).
OPERATIONS REVIEW
Mainland China, in particular Shanghai, is the principal operations base of the Group.
Apart from the return from the Group’s long-term equity investments, in the first half of 2007, hospitality and leisure activities became the most profitable business segment of the Group. Operation of golf club made a contribution of approximately HK$23.40 million to the Group and the Group shared a profit of HK$10.88 million from its interest in a hotel operation. On the other hand, a steady and improving recurrent income from the property investment generated an operating profit of approximately HK$21.55 million. Property development and trading ran as the third profit generator and reported an operating profit of approximately HK$21.18 million owing to the fact that the sales of Tomson Riviera have not yet been recognised and the Group’s latest property development project is under construction, hence stock of completed projects available for sale is limited. Taking benefit of the prosperity of the securities market in Hong Kong, securities trading contributed approximately HK$14.27 million to the Group during the period under review.
Property Development and Investment
As a whole, property development and investment in Shanghai continue to be the core business of the Group and made up approximately 42% of the turnover of the Group for the six months ended 30th June, 2007.
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
中期業績
本公司董事局（「董事局」）欣然提呈本公司及其附屬公司（統稱「本集團」）於二零零七年度首六個月期間 之未經審核簡明綜合財務報表，詳情載列於本報告第21至第43頁。董事局轄下之審核委員會已審閱該 簡明綜合財務報表。
概覽
本集團於二零零七年度上半年錄得本公司股東應佔綜合溢利淨額約為 160,510,000港元（二零零六年： 52,170,000港元）。回顧期內每股基本盈利為12.18港仙（二零零六年：4.12港仙）。截至二零零七年六月 三十日止六個月之溢利較二零零六年度同期上升，乃主要由於本集團出售長期股本投資之收益及收取 長期股本投資所得股息所致，兩者合共為本集團貢獻約 127,340,000港元。
然而，本集團於回顧期內之遞延稅項撥備增加約29,810,000港元，此乃由於中國國內於二零零八年一月 一日起統一內外資企業之所得稅的處理方式而導致適用稅率增加所致。
此外，本集團於二零零七年度首六個月錄得之營業額約為 252,460,000港元，其中物業發展及投資仍然 佔主要部份。
董事局並不建議派付截至二零零七年六月三十日止六個月之中期股息（二零零六年：無）。
業務回顧
本集團之業務主要位於中國國內，尤其是上海。
除本集團之長期股本投資所得回報外，於二零零七年度上半年，款客及消閒業務為本集團之最高溢利 業務。高爾夫球會業務為本集團貢獻約 23,400,000港元及本集團於其酒店業務權益中攤佔溢利約 10,880,000港元。此外，物業投資提供穩定及不斷增長之經常性收入，並帶來經營溢利約 21,550,000港 元。由於湯臣一品之銷售額尚未入賬及本集團最新之物業發展項目仍在興建中，可供銷售之已竣工項 目因而有限，故物業發展及銷售僅為第三大溢利來源，並錄得經營溢利約21,180,000港元。受惠於香港 證券市場交投暢旺，於回顧期內之證券買賣業務為本集團貢獻約 14,270,000港元。
物業發展及投資
整體而言，於上海之物業發展及投資繼續成為本集團之核心業務，並佔本集團截至二零零七年六月三 十日止六個月之營業額約 42%。
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
INTERIM RESULTS
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OPERATIONS REVIEW – Continued
Tomson Golf Villas
Sales of Tomson Golf Villas, a series of villas developed around the periphery of Tomson Shanghai Pudong Golf Club in Pudong, accounted for around 68% of the revenue from property development and trading and 12% of the operating profit of the Group during the period under review. Up to 30th June, 2007, Tomson Golf Villas has nearly sold out all the saleable area of its seven phases of development with only approximately 3% of the saleable area of the latest three phases for sale.
Xingguo Garden
Xingguo Garden was another major source of sale proceeds of the Group for the first half of 2007. It is a residential development in Puxi and all but one unit was sold as at 30th June, 2007.
Tomson Riviera
Tomson Riviera, a prime residential development project of the Group along the riverside of Pudong and overlooking the Bund, has just been issued with its real estate ownership in August this year, hence its sale results will only be recognised in the annual results for 2007. Up till now, sale proceeds of over HK$200 million were received. Of the four residential towers, two are earmarked for sale and another two are retained for investment purpose. It is planning to launch one of the residential towers with 74 units for leasing in the next quarter of this year.
湯臣湖庭花園 (Tomson Huting Garden)
Construction of phase 1 of Tomson Huting Garden, a low-rise residential development project on a site adjacent to Tomson Shanghai Pudong Golf Club, is under way and targeted for completion in 2008. Phase 1 will provide 172 units of detached or semi-detached houses with a total residential gross floor area of around 72,000 square meters. It is scheduled to launch the project to market for pre-sale within these two months.
Commercial and Industrial Buildings
Rental income and management fee from the Group’s commercial and industrial property portfolio in Pudong, comprising Tomson Financial Building, Tomson International Trade Building, Tomson Waigaoqiao Industrial Park and the commercial podium of Tomson Business Centre, provided a steady revenue to the Group and accounted for approximately 11% of the operating profit of the Group for the period under review.
Hospitality and Leisure Industry
Tomson Shanghai Pudong Golf Club
Operation of Tomson Shanghai Pudong Golf Club accounted for approximately a quarter of the turnover and was the principal source of profit of the Group for the six months ended 30th June, 2007. It delivered a profit of approximately HK$23.40 million, being approximately 13% of the operating profit of the Group for the period. Sale of membership debentures had a remarkable progress during the period under review by achieving almost double the sale amount for the last corresponding period while revenues from golfing activities also recorded a sound improvement.
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
中期業績
業務回顧 －續
湯臣高爾夫別墅
於回顧期內，在浦東之湯臣上海浦東高爾夫球會周邊開發之一系列別墅－湯臣高爾夫別墅之銷售額佔 本集團之物業發展及銷售所得收益約68%，並佔本集團經營溢利約12%。截至二零零七年六月三十日， 湯臣高爾夫別墅全部七期之可供出售面積已接近全部售罄，僅餘最新三期中約3%之可供出售面積可供 發售。
湯臣怡園
湯臣怡園為本集團於二零零七年度上半年之另一項主要銷售收入來源。該物業為位於浦西之住宅發展 項目。於二零零七年六月三十日，除一個單位外，其餘單位已全部售罄。
湯臣一品
湯臣一品為本集團旗下一項高級住宅發展項目，位處浦東江畔並可俯瞰整個外灘景觀。該項目剛於本 年八月獲發房地產權證，因此，其銷售業績於二零零七年度全年業績中方可確認。截至目前為止，本 集團已收取超過 200,000,000港元之銷售收入。在四棟住宅大樓中，兩棟已撥作發售，而另外兩棟則保 留作投資用途。本集團現正計劃於本年下一季推出其中一棟住宅大樓共 74個單位作出租用途。
湯臣湖庭花園
湯臣湖庭花園（一個毗鄰湯臣上海浦東高爾夫球會之低層住宅發展項目）之第一期建築工程現正進行， 並預期於二零零八年竣工。第一期將提供172個獨立或半獨立式樓房，總住宅樓面面積約為72,000平方 米。該項目計劃於兩個月內推出市場預售。
商業及工業大廈
在回顧期內，本集團來自位於浦東的商業及工業物業組合的租金收入及管理費為本集團帶來穩定的收 益，佔本集團的經營溢利約 11%。該組合包括湯臣金融大廈、湯臣國際貿易大樓、湯臣外高橋工業園 區及湯臣商務中心大廈之商場部份。
款客及消閒業務
湯臣上海浦東高爾夫球會
湯臣上海浦東高爾夫球會之營運業務約佔本集團截至二零零七年六月三十日止六個月營業額之四分之 一，並為本集團期內之主要溢利來源。該項業務帶來溢利約23,400,000港元，佔期內本集團經營溢利約 13%。於回顧期內之球會會籍銷售成績卓越，所錄得之銷售額較去年同期增長近一倍，而高爾夫球活 動之收益亦錄得穩健增長。
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
INTERIM RESULTS
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OPERATIONS REVIEW – Continued
Hotel Inter-Continental Pudong Shanghai
Though there was a regression in operating results of the hotel operation, in which the Group holds a 50% interest, during the period under review owing to a renovation project, the Group shared a profit of approximately HK$10.88 million and the average occupancy rate of the hotel was around 78% for the first half of 2007.
Industrial Operations
The industrial operations of the Group reported a slight loss of HK$1.07 million during the six months ended 30th June, 2007 owing to a reduction in gross profit margin and a provision for bad and doubtful debts.
Securities Trading
In the first half of 2007, securities trading activities of the Group increased substantially in view of the market boom in Hong Kong and a total net income of approximately HK$12.89 million was generated. In addition, an unrealised gain on changes in fair value of securities investment held for trading of approximately HK$1.36 million was credited to the consolidated income statement of the Group for the six months ended 30th June, 2007.
Investment Holding
In addition to its own property development projects, the Group holds a 9.8% interest in the issued capital of Rivera (Holdings) Limited (“RHL”), a listed company in Hong Kong, and a 13.5% interest in the registered capital of an associated company of RHL established in the Mainland China. Both two companies are principally engaged in property development and investment in Zhangjiang Hi-Tech Park, Pudong. Dividends of a total sum of approximately HK$32.77 million were received in 2007.
Besides, the Company, through a wholly-owned subsidiary, has acquired shares in the capital of Poly (Hong Kong) Investments Limited (“Poly HK”), a listed company in Hong Kong, since June 2006 and became a substantial shareholder of Poly HK under Part XV of the Securities and Futures Ordinance in September 2006. The Group has therefore decided to hold such interest as a long-term equity investment. To realise a gain on its investment to capitalise on the rise in the share price and in consideration of a substantial dilution of the Group’s interest in Poly HK upon a completion of a subscription of a huge number of new shares of Poly HK by investors unrelated with the Group which has been announced by Poly HK in March 2007, the Group subsequently disposed of the shares of Poly HK from October 2006 to May 2007. The disposal of the long-term equity investment was completed in May 2007 and all the sales were effected on The Stock Exchange of Hong Kong Limited at market prices then quoted. The Group has recognised a profit of approximately HK$0.9 million in 2006 and a gain of approximately HK$94.6 million was recognised in the period under review, making up a total profit of approximately HK$95.5 million from the disposal.
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
中期業績
業務回顧 －續
上海錦江湯臣洲際大酒店
雖然在回顧期內，本集團持有 50%權益之酒店業務因進行翻新工程而令經營業績倒退，但本集團仍攤 佔溢利約 10,880,000港元，而於二零零七年度上半年酒店之平均入住率約為 78%。
工業業務
本集團之工業業務於截至二零零七年六月三十日止六個月內錄得輕微虧損約1,070,000港元，原因為毛 利率下降及須為呆壞賬作出撥備。
證券買賣
於二零零七年度上半年，由於香港證券市場交投暢旺，本集團之證券買賣活動顯著增加，並錄得淨收 入總計約12,890,000港元。此外，待售證券投資公平值變動產生之未變現收益約1,360,000港元已計入本 集團截至二零零七年六月三十日止六個月之綜合利潤表中。
投資控股
除本集團本身之物業發展項目外，本集團亦持有川河集團有限公司（「川河」，一家於香港上市之公司） 之已發行股本中9.8%權益及於川河在中國國內成立之一家聯營公司之註冊資本中擁有13.5%權益。兩家 公司之主要業務均為於浦東張江高科技園區從事物業發展及投資業務。本集團於二零零七年收取合共 約 32,770,000港元之股息。
此外，本公司自二零零六年六月起透過一家全資附屬公司購入保利（香港）投資有限公司（「保利香港」， 一家於香港上市之公司）股本中之股份，並於二零零六年九月根據《證券及期貨條例》第XV部之規定成 為保利香港之主要股東。本集團因而決定持有該項權益作為長期股本投資。其後，為變現其投資在股 價上升所帶來之收益，及考慮到保利香港於二零零七年三月公佈獲與本集團並無關連之投資者認購保 利香港之大量新股份，而待認購事項完成後，本集團於保利香港之權益將被大幅攤薄，本集團遂於二 零零六年十月至二零零七年五月期間出售保利香港之股份。長期股本投資出售事宜於二零零七年五月 完成，而所有銷售均於香港聯合交易所有限公司按當時所報市場價格進行。本集團於二零零六年已確 認溢利約 900,000港元及於回顧期內錄得收益約 94,600,000港元，故自出售事項賺取之溢利約合共為 95,500,000港元。
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
INTERIM RESULTS
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FINANCIAL REVIEW
Liquidity and Financing
The Group’s capital expenditure and investments for the period ended 30th June, 2007 were mainly funded by cash on hand, operating revenue and income from investing activities.
At the balance sheet date, the cash and cash equivalents of the Group amounted to approximately HK$1,277.86 million. During the period under review, the Group generated a net cash inflow of approximately HK$196.83 million from its operations and achieved a net cash inflow of approximately HK$74.62 million from its investing activities. After taking account of a net cash outflow of approximately HK$29.59 million from its financing activities, the Group recorded a net cash inflow of approximately HK$241.86 million for the period under review (2006: a net cash outflow of HK$135.95 million). The increase in the cash inflow for the period was mainly attributable to the disposal of the long-term equity investment in Hong Kong and receipt of sale proceeds from property development projects in Shanghai.
The Group’s borrowings as at 30th June, 2007 amounted to approximately HK$565.26 million (31st December, 2006: HK$573.81 million), equivalent to 13.13% (31st December, 2006: 14.35%) of the equity attributable to the shareholders of the Company at the same date. Of those borrowings, all was financed by bank loans under security and 38% were repayable within one year from the balance sheet date while the remaining was due for repayment more than two years but within five years from the balance sheet date.
At the balance sheet date, the Group had capital commitments contracted but not provided for in relation to expenditure on properties under development amounting to approximately HK$1,114.84 million (31st December, 2006: HK$1,028.81 million). The Group anticipates funding those commitments from its future operating revenue, bank borrowings and other sources of finance where appropriate.
The Group recorded a current ratio of 1.96 times (31st December, 2006: 2.05 times) and a gearing ratio (total liabilities to equity attributable to the shareholders of the Company) of 36.95% as at 30th June, 2007 (31st December, 2006: 33.51%). The drop in the current ratio and the rise in the gearing ratio in 2007 were mainly attributable to a classification of pre-sale proceeds from the Group’s properties under development as current liabilities.
Charge on Assets
As at 30th June, 2007, assets of the Group with an aggregate carrying value of approximately HK$2,869.53 million (31st December, 2006: HK$2,548.41 million) were pledged to banks for securing general banking facilities of the Group. On the other hand, a deposit of approximately HK$6.96 million has been pledged to banks on 31st December, 2006 to secure mortgage finance granted to buyers of properties developed by the Group and the charge was released.
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Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
中期業績
財務回顧
流動資金及融資
本集團於截至二零零七年六月三十日止期間之資本開支及投資所需資金主要來自手頭現金、營運收益 及投資業務收益。
於結算日，本集團之現金及現金等值項目約為1,277,860,000港元。於回顧期內，本集團來自其經營業務 所得之現金流入淨額約為196,830,000港元，而其投資業務所得之現金流入淨額約為74,620,000港元。經 計及其融資活動之現金流出淨額約 29,590,000港元後，本集團於回顧期內錄得現金流入淨額約為 241,860,000港元（二零零六年：現金流出淨額約 135,950,000港元）。於期內現金流入增加主要由於出售 香港之長期股本投資及收取於上海之物業發展項目之銷售所得款項。
於二零零七年六月三十日，本集團之借貸約為565,260,000港元（二零零六年十二月三十一日：573,810,000 港元），相等於同日之本公司股東應佔權益之13.13%（二零零六年十二月三十一日：14.35%）。在該等借 貸中，全部為有抵押銀行貸款，其中 38%須於結算日起計一年內償還，餘下則於結算日起計兩年後但 於五年內償還。
於結算日，本集團有關發展中物業開支之已訂約惟尚未撥備之資本承擔約為1,114,840,000港元（二零零 六年十二月三十一日：1,028,810,000港元）。本集團預期以日後之營運收益、銀行借貸及其他適合之融 資來源以應付該等承擔。
於二零零七年六月三十日，本集團錄得流動比率為1.96倍（二零零六年十二月三十一日：2.05倍）及資本 負債比率（即負債總額對本公司股東應佔權益之比率）為36.95%（二零零六年十二月三十一日：33.51%）。 於二零零七年度流動比率下降及資本負債比率上升，主要由於本集團發展中物業之預售所得款項被分 類為流動負債所致。
資產抵押
於二零零七年六月三十日，本集團賬面總值約 2,869,530,000港元（二零零六年十二月三十一日： 2,548,410,000港元）之資產已抵押予銀行，以作為本集團之一般銀行信貸之擔保。此外，於二零零六年 十二月三十一日，一筆約 6,960,000港元之存款曾抵押予銀行，以作為本集團所發展物業之買家所獲按 揭融資之擔保，而有關抵押已獲解除。
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10
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
INTERIM RESULTS
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FINANCIAL REVIEW – Continued
Foreign Exchange Exposure
The majority of the Group’s assets and liabilities are denominated in Renminbi and the liabilities are well covered by the assets, the management therefore expects that the change in value of Renminbi will not have any adverse effect to the Group since Renminbi has generally been perceived as having appreciation in value relative to Hong Kong Dollars. On the other hand, all of the other assets and liabilities of the Group are denominated in either Hong Kong Dollars or United States Dollars, hence, the Group does not anticipate any material foreign exchange exposure.
Contingent Liabilities
As at 30th June, 2007, the Group had a contingent liability of US$3 million in respect of a provision of a guarantee to indemnify the management company of Hotel Inter-Continental Pudong Shanghai a part of the fund for hotel renovation and system upgrading. The Board is of the opinion that it would be unlikely for the Group to suffer any material financial loss as a result of giving the aforesaid guarantee.
PROSPECTS
The promulgation of various macro-economic measures by the government of the Mainland China has an impact on the source of fund entering into the property market but the market sentiment is good and the management has confidence in the long-term growth of the property market in the Mainland China. The Group will devote its effort to the marketing of Tomson Huting Garden and Tomson Riviera in the coming months while it will also explore other investment opportunities as well to diversify its business portfolio.
HUMAN RESOURCES
As at 30th June, 2007, the Group engaged around 900 employees in aggregate in its various offices in Hong Kong, Shanghai and Taiwan excluding those associates and jointly controlled entities. The total emoluments paid to staff and directors of the Group during the period under review amounted to approximately HK$23.43 million. Remuneration and benefit packages are generally structured with reference to market terms together with individual responsibilities, performance and qualification. Discretionary bonus may be paid to employees based on individual contribution. In addition, the Company has established a share option scheme pursuant to which options are allowed for granting to directors and employees of the Group to subscribe for shares in the capital of the Company.
On behalf of the Board of
TOMSON GROUP LIMITED
Hsu Feng
Chairman and Managing Director
Hong Kong, 4th September, 2007
11
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
中期業績
財務回顧 －續
匯兌風險
由於本集團大部份資產及負債以人民幣列值，而資產可充分地償付負債，因此，管理層預期人民幣幣 值變動將不會對本集團產生任何負面影響，因為相對於港元，人民幣一般被視為會升值。另一方面， 本集團所有其他資產及負債均以港元或美元列值，故本集團並不預期有任何重大匯兌風險。
或然負債
於二零零七年六月三十日，本集團之或然負債約為3,000,000美元，為向上海錦江湯臣洲際大酒店之管 理公司就酒店翻新及系統升級工程所需資金而提供之賠償保證。董事局認為，本集團不大可能就提供 上述保證而招致任何重大財務虧損。
展望
中國國內政府頒佈多項宏觀經濟調控措施對資金流入房地產市場造成影響，惟市場氣氛仍然樂觀，管 理層對中國國內物業市場之長遠增長仍然充滿信心。本集團將於未來數月致力推廣湯臣湖庭花園及湯 臣一品兩個項目，並將會同時開拓其他投資商機以多元化發展其業務組合。
人力資源
於二零零七年六月三十日，本集團於香港、上海及台灣之多個辦事處共僱用約900名員工（不包括聯營 公司及合營企業之員工）。於回顧期內，本集團支付予董事及員工之酬金總額約為 23,430,000港元。本 集團之酬金及福利計劃一般參考市場條款以及個別人員之職責、表現及履歷而釐定，並按個別員工之 貢獻而可能酌情發放花紅。此外，本公司已設立一項購股權計劃，據此，可向本集團之董事及僱員授 出購股權，以認購本公司股本中之股份。
代表 湯臣集團有限公司 董事局 主席兼董事總經理 徐 楓
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香港，二零零七年九月四日
12
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
INTERESTS AND SHORT POSITIONS IN SECURITIES
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DIRECTORS’ INTERESTS AND SHORT POSITIONS
As at 30th June, 2007, the interests and short positions of the Directors of the Company in shares, debentures and underlying shares of the Company or any of its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance (the “SFO”)), which were required, pursuant to Section 352 of the SFO, to be entered in the register referred to therein (including interests and short positions which they were taken to have under Section 344 of the SFO) or which were required to be notified to the Company and The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) pursuant to the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”), were as follows:
The Company: Shares of HK$0.50 each
| Number of shares of the Company | Number of shares of the Company | |||
|---|---|---|---|---|
| Personal | Family | Corporate | Other | |
| Name of Directors | Interests | Interests | Interests | Interests |
| Madam Hsu Feng | 28,616,000 | Nil | Nil_(A)_ | 534,979,960_(B)_ |
| Mr Tong Albert | 22,682,000 | Nil | Nil_(A)_ | 13,000,000_(C)_ |
| Mr Chuang Hsiao-Chen | Nil | Nil | Nil | 2,000,000_(D)_ |
Notes:
- (A) The following companies, being private companies incorporated in Hong Kong and wholly-owned subsidiaries of Rivera (Holdings) Limited (a listed company in Hong Kong), beneficially held an aggregate of 159,500,465 shares of the Company on 30th June, 2007:
| Name of companies Number of shares held |
Name of companies Number of shares held |
|---|---|
| Forty Enterprises Company Limited Shine Trip Limited |
13,081,788 146,418,677 |
| 159,500,465 |
Madam Hsu Feng and Mr Tong Albert, being mother and son, are directors of Rivera (Holdings) Limited of which Madam Hsu, being the executrix of the estate of her late husband, Mr Tong Cun Lin, is deemed to be a substantial shareholder.
-
(B) Madam Hsu Feng was interested in the 534,979,960 shares of the Company in her capacity as the executrix of the estate of the late Mr Tong Cun Lin.
-
(C) Mr Tong Albert has been granted options under the share option scheme of the Company which entitle him to subscribe for 11,000,000 shares of the Company at a subscription price of HK$1.81 per share during a period of 3 years ending on 5th October, 2008 and 2,000,000 shares of the Company at a subscription price of HK$2.155 per share during a period of 5 years ending on 23rd July, 2011.
-
(D) Mr Chuang Hsiao-Chen has been granted an option under the share option scheme of the Company which entitles him to subscribe for 2,000,000 shares of the Company at a subscription price of HK$2.155 per share during a period of 5 years ending on 23rd July, 2011.
13
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
證券之權益及淡倉
董事之權益及淡倉
於二零零七年六月三十日，本公司各董事於本公司或其任何相聯法團（按《證券及期貨條例》第XV部之 定義詮釋）之股份、債權證及相關股份中擁有須遵照《證券及期貨條例》第352 條之規定記載入該條例所 述的登記冊內（包括根據《證券及期貨條例》第 344 條被視為擁有之權益及淡倉），或須遵照香港聯合交 易所有限公司（「聯交所」）《證券上市規則》（「《上市規則》」）之規定知會本公司及聯交所之權益及淡倉如 下：
本公司：
每股面值0.50 港元之股份
| 本公司之股份數目 | |||||
|---|---|---|---|---|---|
| 董事姓名 | 個人權益 | 家屬權益 | 公司權益 | 其他權益 | |
| 徐 楓女士 |
28,616,000 | 無 | 無_(A)_ | 534,979,960 | (B) |
| 湯子同先生 | 22,682,000 | 無 | 無_(A)_ | 13,000,000 | (C) |
| 莊烋真先生 | 無 | 無 | 無 | 2,000,000 | (D) |
附註：
-
－
-
(A) 於二零零七年六月三十日，下列公司（均為於香港註冊成立的私人公司，並為一家於香港上市之公司 川 河集團有限公司的全資附屬公司）實益持有合共 159,500,465 股本公司股份：
| 公司名稱 | 所持有股份數目 |
|---|---|
| 富義企業有限公司 瑞展有限公司 |
13,081,788 146,418,677 |
| 159,500,465 |
徐楓女士與湯子同先生為母子，兩人均為川河集團有限公司的董事，而徐女士作為其先夫湯君年先生之遺產 執行人，乃被視為該公司之主要股東。
-
(B) 徐楓女士以已故湯君年先生之遺產執行人之身份擁有該等 534,979,960 股本公司股份之權益。
-
(C) 湯子同先生獲授予本公司之購股權計劃項下之購股權；據此，彼有權於直至二零零八年十月五日止為期三年 之期間內以每股股份1.81港元之認購價認購11,000,000股本公司股份，及於直至二零一一年七月二十三日止為 期五年之期間內以每股股份 2.155港元之認購價認購 2,000,000股本公司股份。
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- (D) 莊烋真先生獲授予本公司之購股權計劃項下之購股權；據此，彼有權於直至二零一一年七月二十三日止為期 五年之期間內以每股股份 2.155港元之認購價認購 2,000,000股本公司股份。
14
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
INTERESTS AND SHORT POSITIONS IN SECURITIES
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DIRECTORS’ INTERESTS AND SHORT POSITIONS – Continued
Save as disclosed above, none of the Directors of the Company and their associates had any interests or short positions in the shares, debentures and underlying shares of the Company or any of its associated corporations as at 30th June, 2007, which were required, pursuant to Section 352 of the SFO, to be entered in the register referred to therein (including interests or short positions which they were taken to have under Section 344 of the SFO) or which were required to be notified to the Company and the Stock Exchange pursuant to the Listing Rules.
SUBSTANTIAL SHAREHOLDERS’ INTERESTS AND SHORT POSITIONS
As at 30th June, 2007, the following shareholders (other than the Directors of the Company) were interested, directly or indirectly, in 5% or more of the total issued share capital and underlying shares of the Company and those interests were required to be recorded in the register required to be kept under Section 336 of the SFO:
| Number of shares held | Number of shares held | |
|---|---|---|
| (proportion to the total issued | ||
| Name of substantial shareholders | share capital of the | Company) |
| King China Holdings Limited_(a)_ | 371,380,945 | (28.2%) |
| Rivera (Holdings) Limited_(b)_ | 159,500,465 | (12.1%) |
| E-Shares Investments Limited_(a)_ | 97,664,265 | (7.4%) |
Notes:
-
(a) King China Holdings Limited and E-Shares Investments Limited were beneficially and wholly owned by Madam Hsu Feng in her capacity as the executrix of the estate of the late Mr Tong Cun Lin and by virtue of the SFO, their interests in the shares of the Company therefore constituted part of the total interest of Madam Hsu of 563,595,960 shares in the capital of the Company as disclosed in the above paragraph headed “Directors’ Interests and Short Positions” in this Report.
-
(b) Amongst those shares disclosed, 146,418,677 shares were beneficially held by Shine Trip Limited, which was a wholly-owned subsidiary of Superwell Development Limited in which Rivera (Holdings) Limited (“RHL”) held the entire interest. Therefore, Shine Trip Limited, Superwell Development Limited and RHL were interested or were taken to be interested in those shares pursuant to the SFO.
-
Details of the interest taken to be held by RHL under the SFO are set out in Note (A) to the above paragraph headed “Directors’ Interests and Short Positions” in this Report.
Save for the above interests, the Directors of the Company are not aware of any person (other than the Directors of the Company) who had, directly or indirectly, interests or short positions in the total issued share capital and the underlying shares of the Company and those interests or short positions were required to be recorded in the register kept under Section 336 of the SFO as at 30th June, 2007.
15
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
證券之權益及淡倉
董事之權益及淡倉 －續
除上文所披露者外，於二零零七年六月三十日，本公司各董事及彼等的聯繫人士概無於本公司或其任 何相聯法團之股份、債權證及相關股份中擁有須遵照《證券及期貨條例》第 352 條之規定記載入該條例 所述的登記冊內（包括根據《證券及期貨條例》第 344 條彼等被視為擁有的權益或淡倉），或須遵照《上 市規則》之規定知會本公司及聯交所的任何權益或淡倉。
主要股東之權益及淡倉
於二零零七年六月三十日，下列股東（本公司董事除外）直接或間接地擁有本公司全部已發行股本及相 關股份中之5%或以上權益，而該等權益須遵照《證券及期貨條例》第336 條之規定載錄於須予備存之登 記冊內：
| 所持有股份數目 | |
|---|---|
| （佔本公司全部已發行 | |
| 主要股東名稱 | 股本之百分比） |
| 錦華集團有限公司 (a) | 371,380,945 (28.2%) |
| 川河集團有限公司 (b) | 159,500,465 (12.1%) |
| E-Shares Investments Limited_(a)_ | 97,664,265 (7.4%) |
附註：
-
(a) 徐楓女士作為已故湯君年先生之遺產執行人之身份，實益及全資擁有錦華集團有限公司及E-Shares Investments Limited。因此，根據《證券及期貨條例》，該等公司擁有之本公司股份權益構成本報告內前述標題為「董事之 權益及淡倉」一節所披露之徐女士所持有本公司股本中合共 563,595,960股股份權益總數之一部份。
-
(b) 於該等披露之股份中， 146,418,677 股股份由瑞展有限公司實益持有。瑞展有限公司為高賢發展有限公司之 全資附屬公司，而川河集團有限公司（「川河」）持有後者之全部權益。因此，根據《證券及期貨條例》，瑞展有 限公司、高賢發展有限公司及川河擁有或被視為擁有該等股份之權益。
有關川河根據《證券及期貨條例》被視作持有的權益的詳情，載於本報告內前述標題為「董事之權益及淡倉」一 節之附註 (A)內。
除上文所披露者外，據本公司董事所知，概無任何人士（本公司董事除外）於二零零七年六月三十日直 接或間接地擁有本公司全部已發行股本及相關股份中之權益或淡倉，而該等權益或淡倉須遵照《證券及 期貨條例》第 336 條之規定載錄於須予備存之登記冊內。
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16
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
INTERESTS AND SHORT POSITIONS IN SECURITIES
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SHARE OPTION SCHEME
The Company adopted a share option scheme (the “Scheme”) on 29th May, 2002 to provide incentives or rewards to selected persons for their contribution to the Group or any entity in which the Group holds an equity interest.
Details of the outstanding options under the Scheme during the six months ended 30th June, 2007 are as follows:
| Exercise Name of Date of Price Exercise Grantees Grant per share Period (HK$) |
Number of shares of the Company subject to the options | Number of shares of the Company subject to the options | Number of shares of the Company subject to the options | ||
|---|---|---|---|---|---|
| Balance as at 1.1.2007 |
Granted during the period |
Exercised during the period |
Cancelled/ Lapsed during the period |
Balance as at 30.06.2007 |
|
| Category 1: Directors Mr Tong Albert 6.10.2005 1.810 6.10.2005 to 5.10.2008 24.7.2006 2.155 24.7.2006 to 23.7.2011 Mr Chuang Hsiao-Chen 24.7.2006 2.155 24.7.2006 to 23.7.2011 Total for Directors Category 2: Employees Employees 24.7.2006 2.155 24.7.2006 to 23.7.2011 Total for Employees Total for all categories |
11,000,000 2,000,000 2,000,000 15,000,000 9,300,000 9,300,000 24,300,000 |
– – – – – – – |
– – – – – – – |
– – – – – – – |
11,000,000 2,000,000 2,000,000 |
| 15,000,000 | |||||
| 9,300,000 | |||||
| 9,300,000 | |||||
| 24,300,000 |
Save as disclosed above, no other options were outstanding, granted, exercised, cancelled or lapsed under the Scheme at any time during the period under review.
17
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
證券之權益及淡倉
購股權計劃
本公司於二零零二年五月二十九日採納了一項購股權計劃（「該計劃」），以鼓勵及獎賞經甄選之人士對 本集團或由本集團持有任何股權之任何機構作出貢獻。
截至二零零七年六月三十日止六個月內，於該計劃下尚未行使之購股權之詳情如下：
購股權項下之本公司股份數目
| 每股股份 承授人名稱 授出日期 行使價 行使期間 （港元） |
於2007年 1月1日 之結餘 |
於期間內 授出 |
於期間內 行使 |
於期間內 註銷／失效 |
於2007年 6月30日 之結餘 |
|---|---|---|---|---|---|
| 第一類別：董事 湯子同先生 6.10.2005 1.810 6.10.2005 至 5.10.2008 24.7.2006 2.155 24.7.2006 至 23.7.2011 莊烋真先生 24.7.2006 2.155 24.7.2006 至 23.7.2011 董事之總額 第二類別：僱員 僱員 24.7.2006 2.155 24.7.2006 至 23.7.2011 僱員之總額 所有類別之總額 |
11,000,000 2,000,000 2,000,000 15,000,000 9,300,000 9,300,000 24,300,000 |
－ － － － － － － |
－ － － － － － － |
－ － － － － － － |
11,000,000 2,000,000 2,000,000 |
| 15,000,000 | |||||
| 9,300,000 | |||||
| 9,300,000 | |||||
| 24,300,000 |
==> picture [46 x 538] intentionally omitted <==
除上文所披露者外，於回顧期間內任何時間， 概無其他在該計劃下尚未行使、已授出、已行使、已註 銷或已失效之購股權。
18
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
CORPORATE GOVERNANCE AND OTHER INFORMATION
==> picture [46 x 538] intentionally omitted <==
PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES
During the six months ended 30th June, 2007, there was no purchase, sale or redemption made by the Company, or any of its subsidiaries, of the Company’s listed securities.
CODE ON CORPORATE GOVERNANCE PRACTICES
The Board considers that the Company has complied with all the code provisions set out in the Code on Corporate Governance Practices contained in Appendix 14 to the Listing Rules then in force throughout the period of six months ended 30th June, 2007, except that:
-
(a) Madam Hsu Feng takes up both the posts of Chairman of the Board and Managing Director of the Company but the Board is of the view that there is an adequate balance of power. The Company’s daily business management is shared amongst Madam Hsu and other members of the Executive Committee of the Board which was set up with specific written terms of reference. Besides, all major decisions are made in consultation with members of the Board and appropriate committees of the Board;
-
(b) none of the existing independent non-executive Directors of the Company are appointed for a specific term and the Articles of Association of the Company do not prescribe to have the Directors of the Company retired by rotation at least once every three years. However, one-third (or the number nearest thereto) of all the Directors of the Company (including the independent non-executive Directors) for the time being shall retire by rotation at the Company’s annual general meetings and shall be eligible for re-election in accordance with the Articles of Association of the Company; and
-
(c) the Chairman of the Board was not available to attend the Annual General Meeting of the Company for 2007, however, Mr Tong Albert, Vice-Chairman of the Board and executive Director of the Company, was present at the meeting to answer questions on the business of the Group.
CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS
The Company has adopted its own code of practice regarding securities transactions by the Directors and relevant employees (the “Code of Practice”) on terms no less exacting than the required standard of the Model Code for Securities Transactions by Directors of Listed Issuers (the “Model Code”) as set out in Appendix 10 to the Listing Rules.
Having made specific enquiry of all Directors of the Company, each of whom has confirmed compliance with the required standard set out in the Model Code and the Code of Practice throughout the period under review.
AUDIT COMMITTEE
The Board includes three independent non-executive Directors, Madam Tung Wai Yee, Mr Cheung Siu Ping, Oscar and Mr Lee Chan Fai, who form the Audit Committee of the Board. Mr Cheung, who possesses an appropriate professional accounting qualification, is the chairman of the Committee. The Committee holds regular meetings to review the Group’s financial reporting process and internal controls.
19
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
企業管治及其他資料
購買、出售或贖回上市證券
於截至二零零七年六月三十日止六個月內，本公司或其任何附屬公司概無購買、出售或贖回本公司之 上市證券。
企業管治常規守則
董事局認為本公司於截至二零零七年六月三十日止六個月內一直遵守當時生效之《上市規則》附錄十四 所載之《企業管治常規守則》內之所有守則條文，惟下文所述者除外：
-
(a) 徐楓女士同時擔任本公司董事局主席兼董事總經理兩職，然而，董事局認為已有足夠的權力平衡。 本公司之日常業務管理由徐女士與董事局轄下具有書面特定職權範圍的執行委員會中其他成員共 同分擔，且所有重大決定均經董事局及其轄下之適當委員會商議後才作出；
-
(b) 本公司之現任獨立非執行董事均無指定任期，而本公司之《公司組織章程細則》亦沒有規定本公司 之董事需至少每三年輪流退任一次。然而，根據本公司之《公司組織章程細則》之規定，本公司當 時所有在任董事（包括獨立非執行董事）中三分之一（或最接近三分之一之數目）之成員須在本公司 股東週年大會上依章輪值告退，並可競選連任；及
-
(c) 本公司董事局主席未能出席本公司之二零零七年度股東週年大會，惟本公司董事局副主席兼執行 董事湯子同先生出席了該大會，以解答有關本集團業務之提問。
董事進行證券交易的守則
本公司已就董事及有關僱員進行證券交易採納其本身的守則（「該交易守則」），而該交易守則之條文並 不遜於《上市規則》附錄十所載之《上市發行人董事進行證券交易的標準守則》（「《標準守則》」）所規定之 標準。
本公司已向所有董事作出特定查詢，各董事均已確認於回顧期內彼等一直遵守載於《標準守則》及該交 易守則內所規定之標準。
審核委員會
－ 董事局包括三位獨立非執行董事 董慧儀女士、張兆平先生及李燦輝先生，彼等組成董事局轄下之 審核委員會，而擁有適當會計專業資格的張先生為該委員會之主席。該委員會定期舉行會議，以審視 本集團之財務匯報程序及內部監控運作。
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20
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
CONDENSED CONSOLIDATED INCOME STATEMENT (UNAUDITED) 簡明綜合利潤表（未經審核）
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
| 2007 | 2006 | |||
|---|---|---|---|---|
| 二零零七年 | 二零零六年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附註 | 千港元 | 千港元 | ||
| Turnover | 營業額 | 3 | 252,459 | 192,773 |
| Cost of sales | 銷售成本 | 4 | (114,535) | (57,615) |
| Gross profit | 毛利 | 137,924 | 135,158 | |
| Other income | 其他收入 | 5 | 148,352 | 28,612 |
| Selling expenses | 銷售費用 | (42,774) | (41,905) | |
| Administrative expenses | 行政費用 | (47,575) | (41,668) | |
| Other expenses | 其他費用 | 6 | (3,964) | (24,258) |
| Finance costs | 融資費用 | 7 | (5,971) | (2,855) |
| 185,992 | 53,084 | |||
| Share of results of associates | 應佔聯營公司之業績 | 1,329 | 917 | |
| Share of results of jointly controlled entities | 應佔合營企業之業績 | 10,902 | 12,059 | |
| Profit before taxation | 除稅前溢利 | 8 | 198,223 | 66,060 |
| Taxation | 稅項 | 9 | (37,740) | (13,336) |
| Profit for the period | 期內溢利 | 160,483 | 52,724 | |
| Attributable to: | 應佔如下： | |||
| Shareholders of the Company | 本公司股東 | 160,507 | 52,174 | |
| Minority interests | 少數股東權益 | (24) | 550 | |
| 160,483 | 52,724 | |||
| Earnings per share (HK cents) | 每股盈利（港仙） | 11 | ||
| – Basic | －基本 | 12.18 | 4.12 | |
| – Diluted | －攤薄後 | 12.16 | 4.11 |
21
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
CONDENSED CONSOLIDATED BALANCE SHEET 簡明綜合資產負債表
As at 30th June, 2007 於二零零七年六月三十日
| 簡明綜合資產負債表 As at 30th June, 2007 於二零零七年六月三十日 |
||||
|---|---|---|---|---|
| (Unaudited) | (Audited) | |||
| （未經審核） | （經審核） | |||
| 30th June | 31st December | |||
| 2007 | 2006 | |||
| 二零零七年 | 二零零六年 | |||
| 六月三十日 | 十二月三十一日 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附註 | 千港元 | 千港元 | ||
| Non-Current Assets | 非流動資產 | |||
| Fixed assets | 固定資產 | |||
| – Investment properties | －投資物業 | 12 | 1,108,930 | 1,108,930 |
| – Property, plant and equipment | －物業、廠房及設備 | 13 | 316,696 | 313,840 |
| Lease premium for land | 土地租賃費用 | 929,678 | 908,607 | |
| Properties under development | 發展中物業 | 1,052,872 | 835,374 | |
| Intangible assets | 無形資產 | 4,612 | – | |
| Goodwill | 商譽 | 33,288 | 33,288 | |
| Deferred tax assets | 遞延稅項資產 | 52,119 | 37,396 | |
| Interests in associates | 於聯營公司之權益 | 7,487 | 6,557 | |
| Interests in jointly controlled entities | 於合營企業之權益 | 166,394 | 148,045 | |
| Available-for-sale investments | 可供出售投資 | 185,045 | 229,215 | |
| Pledged deposits | 抵押存款 | – | 6,958 | |
| 3,857,121 | 3,628,210 | |||
| Current Assets | 流動資產 | |||
| Lease premium for land | 土地租賃費用 | 28,201 | 27,282 | |
| Properties under development | 發展中物業 | 503,522 | 442,972 | |
| Properties held for sale | 待售物業 | 119,599 | 142,430 | |
| Trade and other receivables | 應收貿易賬款及其他 | |||
| and prepayments | 應收賬款及預付款項 | 14 | 217,727 | 199,471 |
| Investments held for trading | 待售投資 | 32,445 | 32,791 | |
| Inventories | 存貨 | 18,537 | 15,930 | |
| Prepaid income tax | 預付所得稅 | 6,212 | 221 | |
| Cash and bank balances | 現金及銀行結餘 | 1,277,857 | 1,007,115 | |
| 2,204,100 | 1,868,212 | |||
| Current Liabilities | 流動負債 | |||
| Trade and other payables | 應付貿易賬款及其他 | |||
| 應付賬款 | 15 | 650,147 | 626,627 | |
| Received in advance | 預收款項 | 246,334 | 41,630 | |
| Provision for taxation | 稅項撥備 | 11,564 | 18,017 | |
| Current portion of long-term bank | 長期銀行借款之即期部份 | |||
| borrowings | 18 | 215,827 | 208,851 | |
| Amount due to a jointly controlled | 欠合營企業款項 | |||
| entity | – | 16,872 | ||
| 1,123,872 | 911,997 | |||
| Net Current Assets | 流動資產淨值 | 1,080,228 | 956,215 | |
| Total Assets Less Current Liabilities | 總資產減流動負債 | 4,937,349 | 4,584,425 |
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22
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
CONDENSED CONSOLIDATED BALANCE SHEET 簡明綜合資產負債表
As at 30th June, 2007 於二零零七年六月三十日
==> picture [46 x 538] intentionally omitted <==
| Notes 附註 |
(Unaudited) （未經審核） 30th June 2007 二零零七年 六月三十日 HK$’000 千港元 |
(Audited （經審核 31st December 2006 二零零六年 十二月三十一日 HK$’000 千港元 |
) ） |
|---|---|---|---|
| Capital and Reserves 資本及儲備 Share capital 股本 16 Reserves 儲備 17 |
658,736 3,647,755 |
658,736 3,339,685 |
|
| Equity attributable to shareholders 本公司股東應佔權益 of the Company Minority interests 少數股東權益 17(l) |
4,306,491 163,499 |
3,998,421 158,231 |
|
| Total Equity 總權益 |
4,469,990 | 4,156,652 | |
| Non-Current Liabilities 非流動負債 Long-term bank borrowings 長期銀行借款 18 Deferred tax liabilities 遞延稅項負債 |
349,435 117,924 |
348,086 79,687 |
|
| 467,359 | 427,773 | ||
| 4,937,349 | 4,584,425 |
23
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
CONDENSED CONSOLIDATED STATEMENT OF RECOGNISED INCOME AND EXPENSE (UNAUDITED) 簡明綜合收支確認表（未經審核）
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
| For the six months ended 30th June, 2007 截至二零零七年六月三十日止六個月 |
|||
|---|---|---|---|
| 2007 | 2006 | ||
| 二零零七年 | 二零零六年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Foreign currencies translation reserves | 換算海外業務產生之 | ||
| arising from translation of overseas | 外幣兌換儲備 | ||
| operations | 78,235 | 26,633 | |
| Share of reserves of associates and | 期內應佔聯營公司及 | ||
| jointly controlled entities | 合營企業之儲備 | ||
| for the period | 6,210 | 309 | |
| Gain (loss) on changes in fair value | 可供出售投資公平值變動 | ||
| of available-for-sale investments | 之收益（虧損） | 72,356 | (5,114) |
| Net income recognised directly in equity | 已直接於權益中確認之淨收入 | 156,801 | 21,828 |
| Profit for the period | 期內溢利 | 160,483 | 52,724 |
| Release from investment reserve on | 就出售可供出售投資時從 | ||
| disposal of available-for-sale | 投資儲備解除 | ||
| investments | (3,946) | 1,138 | |
| Total recognised income and expense | 期內已確認之收支總額 | ||
| for the period | 313,338 | 75,690 | |
| Attributable to: | 應佔如下： | ||
| Shareholders of the Company | 本公司股東 | 308,070 | 73,459 |
| Minority interests | 少數股東權益 | 5,268 | 2,231 |
| 313,338 | 75,690 |
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24
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
CONDENSED CONSOLIDATED CASH FLOW STATEMENT (UNAUDITED) 簡明綜合現金變動表（未經審核）
For the six months ended 30th June, 2007 截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
| For the six months ended 30th June, 2007 截至二零零七年六月三十日止六個月 |
||||
|---|---|---|---|---|
| 2007 | 2006 | |||
| 二零零七年 | 二零零六年 | |||
| HK$’000 | HK$’000 | |||
| 千港元 | 千港元 | |||
| Net cash generated from operating | 經營業務所得之現金淨額 | |||
| activities | 196,829 | 33,273 | ||
| Net cash generated from (used in) | 投資業務所得（所用）之 | |||
| investing activities: | 現金淨額： | |||
| Additions in properties under development | 添置發展中物業 | (175,960) | (124,479) | |
| Proceeds on disposal of available-for-sale | 出售可供出售投資之所得款項 | |||
| investments | 208,485 | – | ||
| Other investing cash flows | 其他投資現金流量 | 42,094 | 26,618 | |
| 74,619 | (97,861) | |||
| Net cash used in financing activities: | 融資業務所用之現金淨額： | |||
| Dividend paid | 派付股息 | – | (65,874) | |
| Repayment of long-term bank borrowings | 償還長期銀行借款 | (10,277) | – | |
| Other financing cash flows | 其他融資現金流量 | (19,312) | (5,489) | |
| (29,589) | (71,363) | |||
| Net increase (decrease) in cash and | 現金及現金等值項目 | |||
| cash equivalents | 增加（減少）淨額 | 241,859 | (135,951) | |
| Cash and cash equivalents at 1st January | 於一月一日之現金及現金 | |||
| 等值項目 | 1,007,115 | 827,253 | ||
| Effect of foreign exchange rate changes | 外幣兌換率轉變之影響 | 28,883 | 6,440 | |
| Cash and cash equivalents | 於六月三十日之現金及現金 | |||
| at 30th June, | 等值項目， | |||
| representing cash and bank balances | 指現金及銀行結餘 | 1,277,857 | 697,742 |
25
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
1. BASIS OF PREPARATION
The condensed consolidated financial statements have been prepared in accordance with the applicable disclosure requirements set out in Appendix 16 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) and with Hong Kong Accounting Standard (“HKAS”) 34 “Interim Financial Reporting” issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”).
2. PRINCIPAL ACCOUNTING POLICIES
The condensed consolidated financial statements have been prepared under the historical cost basis, except for certain properties and financial instruments, which are measured at fair values, as appropriate. The accounting policies adopted are consistent with those set out in the consolidated financial statements of the Group for the year ended 31st December, 2006.
In the current interim period, the Group has applied, for the first time, a number of new standards, amendments and interpretations issued by the HKICPA (hereinafter collectively referred to as the “new HKFRSs”), which are effective for the Group’s financial years beginning on 1st January, 2007.
The adoption of the new HKFRSs had no material effect on the results and financial position of the Group for the current or prior accounting periods. Accordingly, no prior period adjustment has been recognised.
The Group has not early applied the following new and revised standards or interpretations that have been issued but are not yet effective.
1. 編製基準
簡明綜合財務報表已根據香港聯 合交易所有限公司（「聯交所」） 《證券上市規則》附錄十六所載適 用之披露規定及香港會計師公會 頒佈之《香港會計準則》第 34條 「中期財務報告」而編製。
2. 主要會計政策
簡明綜合財務報表乃根據歷史成 本基準編製，惟若干物業及金融 工具以公平值（如適用）釐定者除 外。所採用之會計政策與本集團 截至二零零六年十二月三十一日 止年度之綜合財務報表所載者一 致。
於本中期期間內，本集團首次採 用多項由香港會計師公會頒佈之 新準則、修訂及詮釋（以下統稱 「《新香港財務報告準則》」），此 等新準則、修訂及詮釋於本集團 二零零七年一月一日開始之財政 年度生效。
採用《新香港財務報告準則》對本 集團之本會計期間或過往會計期 間之業績及財務狀況並無造成重 大影響。因此，毋須作出前期調 整。
本集團並無提早採用以下已頒佈 但未生效之新準則、修訂及詮 釋。
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26
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
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2. PRINCIPAL ACCOUNTING POLICIES – Continued
HKAS 23 (Revised) Borrowing Costs[1] HKFRS 8 Operating Segments[1] HK(IFRIC)-Int 11 HKFRS 2: Group and Treasury Share Transactions[2] HK(IFRIC)-Int 12 Service Concession Arrangements[3]
The Directors of the Company anticipate that the application of these standards or interpretations will have no material impact on the results and the financial position of the Group.
-
1 Effective for annual periods beginning on or after 1st January, 2009.
-
2 Effective for annual periods beginning on or after 1st March, 2007.
-
3 Effective for annual periods beginning on or after 1st January, 2008.
3. TURNOVER AND BUSINESS SEGMENTS
Turnover
Turnover represents the aggregate of revenue under the following headings:
(i) Property investment
- represents revenue from property management and rental income
(ii) Property development and trading
- represents gross revenue received and receivable from sales of properties
2. 主要會計政策 －續
《香港會計準則》 借貸成本[1] 第23條（修訂） 《香港財務報告準則》 營運分類[1] 第 8條 香港（國際財務匯報 《香港財務報告 準則詮釋委員會） 準則》第2條： －詮釋第 11條 集團及庫存股份 交易[2] 香港（國際財務匯報 服務特許權安排[3] 準則詮釋委員會） －詮釋第 12條
本公司董事預期採用此等準則或 詮釋將不會對本集團之業績及財 務狀況造成重大影響。
-
1 適用於二零零九年一月一日或 以後開始之年度期間。
-
2 適用於二零零七年三月一日或 以後開始之年度期間。
-
3 適用於二零零八年一月一日或 以後開始之年度期間。
3. 營業額及業務分類
營業額 營業額指以下各項收入總額：
(i) 物業投資
- －指物業管理收入及租金收 入
(ii) 物業發展及銷售
- －指物業銷售之已收及應收 總收益
27
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
3. 營業額及業務分類 －續
3. TURNOVER AND BUSINESS SEGMENTS
– Continued
(iii)工業業務
(iii) Industrial operations
-
－指銷售所製造膠管所得總 收益
-
represents the gross revenue from sale of manufactured PVC pipes
(iv) 消閒業務
(iv) Leisure
-
－指經營高爾夫球會所業務 及其相關服務收入
-
represents the income from golf club operations and its related services
(v) 證券買賣
(v) Securities trading
-
－指買賣待售投資所得之已 收及應收總收益
-
represents the gross revenue received and receivable from investments held for trading
-
截至二零零七年六月三十日止六 個月之營業額包括下列各項：
Turnover for the six months ended 30th June, 2007 consists of the following:
Six months ended 30th June 截至六月三十日止六個月
| 2007 | 2006 | ||
|---|---|---|---|
| 二零零七年 | 二零零六年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Revenue from sale of goods, properties | 銷售商品、物業及證券 | ||
| and securities | 之收入 | 156,064 | 124,469 |
| Revenue from rendering of services | 提供服務之收入 | 65,074 | 41,304 |
| Revenue from property rental and | 物業租金及管理費收入 | ||
| management fee | 31,321 | 27,000 | |
| 252,459 | 192,773 |
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28
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
3. 營業額及業務分類 －續
3. TURNOVER AND BUSINESS SEGMENTS
– Continued
按業務分類
Business segments
本集團以業務分類作為分類資料 之主要呈報方式。
The Group’s primary format for reporting segment information is business segment.
截至二零零七年六月三十日止 六個月
For the six months ended 30th June, 2007
| Property Property Development Industrial Securities Investment and Trading Operations Leisure Trading Unallocated Elimination 物業發展 物業投資 及銷售 工業業務 消閒業務 證券買賣 不予分類 抵銷 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 千港元 千港元 |
Total 合計 HK$’000 千港元 |
|---|---|
| REVENUE 收入 External sales 對外銷售 31,321 74,933 24,229 65,074 56,902 – – Inter-segment sales 內部之銷售 169 – 15 – – – (184) |
252,459 – |
| 31,490 74,933 24,244 65,074 56,902 – (184) |
252,459 |
| Inter-segment sales 內部之銷售 are charged at 按現行市價 prevailing market 計算。 prices. RESULTS 業績 Segment results 分類業績 20,138 13,045 (1,269) 21,441 12,893 – – |
66,248 148,352 (22,637) (5,971) |
| Other income 其他收入 1,415 8,136 195 1,959 1,372 135,275 – Unallocated corporate 不予分類 expenses 企業開支 Finance costs 融資費用 Share of results of 應佔聯營公司 associates 之業績 – – – (1,026) – 2,355 – Share of results of jointly 應佔合營企業 controlled entities 之業績 – 18 – 10,884 – – – Profit before taxation 除稅前溢利 Taxation 稅項 Profit for the period 期內溢利 |
|
| 185,992 1,329 10,902 |
|
| 198,223 (37,740) |
|
| 160,483 |
29
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
3. 營業額及業務分類 －續
3. TURNOVER AND BUSINESS SEGMENTS
– Continued
按業務分類－續
Business segments – Continued
截至二零零六年六月三十日止 六個月
For the six months ended 30th June, 2006
| Property | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Property | Development | Industrial | Securities | ||||||
| Investment | and Trading | Operations | Leisure | Trading | Unallocated | Elimination | Total | ||
| 物業發展 | |||||||||
| 物業投資 | 及銷售 | 工業業務 | 消閒業務 | 證券買賣 | 不予分類 | 抵銷 | 合計 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| REVENUE | 收入 | ||||||||
| External sales | 對外銷售 | 27,000 | 97,294 | 20,887 | 41,304 | 6,288 | – | – | 192,773 |
| Inter-segment sales | 內部之銷售 | 460 | – | 77 | – | – | – | (537) | – |
| 27,460 | 97,294 | 20,964 | 41,304 | 6,288 | – | (537) | 192,773 | ||
| Inter-segment sales | 內部之銷售 | ||||||||
| are charged at | 按現行市價 | ||||||||
| prevailing market | 計算。 | ||||||||
| prices. |
| RESULTS 業績 Segment results 分類業績 16,398 35,655 858 9,596 525 – – |
63,032 28,612 (35,705) (2,855) |
|---|---|
| Other income 其他收入 2,381 4,851 174 8,190 492 12,524 – Unallocated corporate 不予分類 expenses 企業開支 Finance costs 融資費用 Share of results of 應佔聯營公司 associates 之業績 – – – (114) – 1,031 – Share of results of jointly 應佔合營企業 controlled entities 之業績 – (30) – 12,089 – – – Profit before taxation 除稅前溢利 Taxation 稅項 Profit for the period 期內溢利 |
|
| 53,084 917 12,059 |
|
| 66,060 (13,336) |
|
| 52,724 |
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30
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
4. 銷售成本
4. COST OF SALES
於截至二零零七年六月三十日止 六個月內，本集團已將 13,231,000港元之土地增值稅撥 備計入銷售成本內（二零零六 年：無）。
Included in cost of sales, the Group has provided Land Appreciation Tax of HK$13,231,000 during the six months ended 30th June, 2007 (2006: Nil).
5. 其他收入
5. OTHER INCOME
Six months ended 30th June
截至六月三十日止六個月
| 2007 | 2006 | ||
|---|---|---|---|
| 二零零七年 | 二零零六年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Other income included: | 其他收入包括： | ||
| Interest income | 利息收入 | 8,861 | 8,023 |
| Net gain on disposal of property, | 出售物業、廠房及 | ||
| plant and equipment, | 設備之收益淨額， | ||
| net of written off | 已扣除撇銷金額 | 111 | 275 |
| Gain on disposal of available-for-sale | 出售可供出售投資 | ||
| investments_(Note)_ | 之溢利（附註） | 94,577 | 225 |
| Gain on changes in fair value of | 待售投資公平值變動 | ||
| investments held for trading | 之收益 | 1,359 | – |
| Net exchange gain | 匯兌收益淨額 | 6,085 | 2,384 |
| Dividends from available-for-sale | 可供出售投資 | ||
| investments | 之股息收入 | 32,765 | 6,105 |
| Income from distribution of | 發行廣播權之收入 | ||
| broadcasting right | 1,970 | – |
附註：於截至二零零七年六月三十 日止六個月內，本集團持有 作為可供出售投資之保利（香 港）投資有限公司之全部權益 已於聯交所出售，而本集團 錄得出售溢利約為94,580,000 港元。
Note: During the six months ended 30th June, 2007, the entire interest in Poly (Hong Kong) Investments Limited held by the Group as available-for-sale investment was disposed of on the Stock Exchange and the Group recognised a gain on disposal of approximately HK$94.58 million.
31
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
6. 其他費用
6. OTHER EXPENSES
Six months ended 30th June
截至六月三十日止六個月
| 2007 | 2006 | ||
|---|---|---|---|
| 二零零七年 | 二零零六年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Loss on changes in fair value of | 待售投資公平值變動 | ||
| investments held for trading | 之虧損 | – | 367 |
| Allowance for bad and doubtful debts | 呆壞賬撥備 | 2,322 | 1,959 |
| Loss arising from changes in | 可換股債券內含換股權 | ||
| fair value of convertible bond | 的公平值變動產生之 | ||
| embedded conversion option | 虧損 | – | 21,932 |
| Amortisation of broadcasting right | 廣播權之攤銷 | 1,642 | – |
| 3,964 | 24,258 |
7. 融資費用
7. FINANCE COSTS
Six months ended 30th June 截至六月三十日止六個月
| 2007 | 2006 | ||
|---|---|---|---|
| 二零零七年 | 二零零六年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Interest on bank loans wholly | 須於五年內悉數償還之 | ||
| repayable within five years | 銀行貸款之利息 | 16,955 | 5,388 |
| Less: interest capitalised | 減：資本化利息 | (10,984) | (5,388) |
| 5,971 | – | ||
| Finance costs of convertible | 二零零九年到期可換股 | ||
| bonds due 2009 | 債券之融資費用 | – | 2,855 |
| 5,971 | 2,855 |
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32
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
8. 除稅前溢利
8. PROFIT BEFORE TAXATION
除稅前溢利乃：
Profit before taxation has been arrived at:
| Six months ended 30th June | Six months ended 30th June | ||
|---|---|---|---|
| 截至六月三十日止六個月 | |||
| 2007 | 2006 | ||
| 二零零七年 | 二零零六年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| After charging: | 已扣除： | ||
| Depreciation | 折舊 | 10,096 | 10,117 |
| Amortisation of lease premium for land | 土地租賃費用攤銷 | 3,110 | 2,643 |
9. 稅項
9. TAXATION
Six months ended 30th June
| Six months ended 30th June | Six months ended 30th June | ||
|---|---|---|---|
| 截至六月三十日止六個月 | |||
| 2007 | 2006 | ||
| 二零零七年 | 二零零六年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| The charge comprises: | 稅項支出包括： | ||
| The People’s Republic of China (“PRC”) | 按本集團屬下有關公司 | ||
| (other than Hong Kong) tax calculated | 經營業務所在司法權區 | ||
| at tax rates prevailing in the respective | 之現行稅率計算之 | ||
| jurisdictions where the relevant | 中華人民共和國（「中國」） | ||
| individual group companies operates | （不包括香港）稅項 | 14,357 | 12,087 |
| Hong Kong Profits Tax | 香港利得稅 | 85 | – |
| Underprovision in prior periods | 過往期間撥備不足 | ||
| – PRC (other than Hong Kong) | －中國（不包括香港） | ||
| profits tax | 所得稅 | 122 | 514 |
| 14,564 | 12,601 | ||
| Increase in opening deferred tax balances | 適用稅率增加導致期初 | ||
| resulting from an increase in | 遞延稅項結餘增加 | ||
| the applicable tax rate | 29,811 | – | |
| Deferred tax (credit) charge for | 期內遞延稅項（抵免）支出 | ||
| current period | (6,635) | 735 | |
| 37,740 | 13,336 |
33
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
9. TAXATION – Continued
Hong Kong Profits Tax is recognised based on management’s best estimate of the weighted average annual tax rate expected for the full financial year. The estimated average annual tax rate used is 17.5% (2006: 17.5%) for those subsidiaries that are subject to Hong Kong Profits Tax.
Taxation arising in other jurisdictions is recognised based on management’s best estimate of the weighted average annual income tax rate expected for the full financial year. The estimated average annual tax rate used is 15% (2006: 15%) for the six months ended 30th June, 2007.
On 16th March, 2007, the PRC promulgated the Law of the PRC on Enterprise Income Tax (the “New Law”) by Order No. 63 of the President of the PRC. For enterprises currently benefiting from a 15% preferential tax rate, the New Law’s transition rule provides for a “gradual” increase to 25% over the five-year period from 1st January, 2008. The deferred tax balance has been adjusted to reflect the tax rates that are expected to apply to the respective periods when the asset is realised or the liability is settled.
10. DIVIDENDS
The Directors do not recommend the payment of an interim dividend for the period under review (2006: Nil).
9. 稅項 －續
香港利得稅乃根據管理層預期整 個財政年度之加權平均年度稅率 之最佳估計計量。就須繳納香港 利得稅之該等附屬公司所使用之 平均年度稅率估計為17.5%（二零 零六年： 17.5%）。
於其他司法權區所產生之稅項乃 根據管理層預期整個財政年度之 加權平均年度所得稅率之最佳估 計予以計量。截至二零零七年六 月三十日止六個月所使用之平均 年度稅率估計為 15%（二零零六 年： 15%）。
於二零零七年三月十六日，中華 人民共和國主席令第六十三號頒 佈《中華人民共和國企業所得稅 法》（「新稅法」）。對於目前受惠 於 15%優惠稅率的企業，新稅法 之過渡條款容許自二零零八年一 月一日起在五年過渡期內「逐步」 增至 25%的稅率。遞延稅項結餘 已作調整，以反映預期於個別期 內變現資產或償還負債時採用合 適的稅率。
10. 股息
董事不建議派付於回顧期內之中 期股息（二零零六年：無）。
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34
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
11. 每股盈利
11. EARNINGS PER SHARE
本公司普通股股東應佔每股基本 及攤薄後盈利乃根據以下資料計 算：
The calculation of the basic and diluted earnings per share attributable to the ordinary shareholders of the Company is based on the following data:
| Six months | ended 30th June | ||
|---|---|---|---|
| 截至六月三十日止六個月 | |||
| 2007 | 2006 | ||
| 二零零七年 | 二零零六年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Earnings | 盈利 | ||
| Profit for the period attributable to | 期內用以計算本公司 | ||
| shareholders of the Company for the | 股東應佔每股基本 | ||
| purposes of basic earnings per share | 盈利及每股攤薄後 | ||
| and diluted earnings per share | 盈利之溢利 | 160,507 | 52,174 |
| Number of shares | 股份數目 | ||
| Number/weighted average number of | 計算每股基本盈利之 | ||
| ordinary shares for the purposes of | 普通股數目／加權 | ||
| basic earnings per share | 平均數 | 1,317,471,940 | 1,267,785,541 |
| Effect of dilutive potential ordinary shares | 普通股之潛在攤薄影響 | ||
| – exercise of share options | －行使購股權 | 2,407,139 | 2,355,580 |
| Weighted average number of ordinary | 計算每股攤薄後盈利之 | ||
| shares for the purposes of diluted | 普通股加權平均數 | ||
| earnings per share | 1,319,879,079 | 1,270,141,121 |
由於假設兌換本公司於二零零九 年到期之可換股債券會導致每股 盈利增加，故計算截至二零零六 年六月三十日止六個月之每股攤 薄後盈利時並無假設進行有關兌 換。
The computation of diluted earnings per share for the six months ended 30th June, 2006 did not assume the conversion of the Company’s convertible bonds due 2009 because assuming such conversion would result in an increase in earnings per share.
35
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
12. 投資物業
12. INVESTMENT PROPERTIES
本集團之投資物業於二零零七年 六月三十日已由董事按公平值基 準進行估值。投資物業之賬面值 與其公平值相若。
The Group’s investment properties were fair-valued by the Directors as at 30th June, 2007. The carrying amounts of investment properties approximate their fair values.
13. 物業、廠房及設備
13. PROPERTY, PLANT AND EQUIPMENT
於期內，本集團添置2,837,000港 元（二零零六年：2,550,000港元） 之物業、廠房及設備，並出售賬 面值 50,000港元（二零零六年： 173,000港元）之物業、廠房及設 備。
During the period, additions to property, plant and equipment amounted to HK$2,837,000 (2006: HK$2,550,000) and carrying value of property, plant and equipment disposed of amounted to HK$50,000 (2006: HK$173,000).
14. 應收貿易賬款及其他應收賬 款及預付款項
14. TRADE AND OTHER RECEIVABLES AND PREPAYMENTS
本集團給予其貿易客戶之一般信 貸期由貨到付款至一個月不等。 本集團或會給予有長期業務關係 之客戶較長之信貸期。
The general credit terms of the Group given to trade customers range from cash on delivery to one month. A longer credit period may be granted to customers with long business relationship.
在應收貿易賬款及其他應收賬款 及預付款項內包括應收貿易賬款 （經扣除減值撥備），其於結算日 之賬齡分析如下：
Included in trade and other receivables and prepayments are trade receivables net of impairment losses and their aged analysis as at the balance sheet date is as follows:
| 30th June | 31st December | ||
|---|---|---|---|
| 2007 | 2006 | ||
| 二零零七年 | 二零零六年 | ||
| 六月三十日 | 十二月三十一日 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Aged analysis of trade receivables : | 應收貿易賬款之賬齡分析： | ||
| 0 – 3 months | 零至三個月 | 21,506 | 32,361 |
| 4 – 6 months | 四至六個月 | 4,906 | 7,481 |
| 7 – 12 months | 七至十二個月 | 12,333 | 5,042 |
| over 1 year | 一年以上 | 564 | 167 |
| 39,309 | 45,051 |
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36
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007 截至二零零七年六月三十日止六個月
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15. 應付貿易賬款及其他應付 賬款
15. TRADE AND OTHER PAYABLES
在應付貿易賬款及其他應付賬款 內包括應付貿易賬款，其於結算 日之賬齡分析如下：
Included in trade and other payables are trade payables and their aged analysis as at the balance sheet date is as follows:
| 30th June | 31st December | ||
|---|---|---|---|
| 2007 | 2006 | ||
| 二零零七年 | 二零零六年 | ||
| 六月三十日 | 十二月三十一日 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| Aged analysis of trade payables : | 應付貿易賬款之賬齡分析： | ||
| 0 – 3 months | 零至三個月 | 6,192 | 7,780 |
| 4 – 6 months | 四至六個月 | 256 | 182 |
| 7 – 12 months | 七至十二個月 | 4,609 | 996 |
| over 1 year | 一年以上 | 25,423 | 45,562 |
| 36,480 | 54,520 |
16. 股本
16. SHARE CAPITAL
| Number of shares 股份數目 2007 2006 二零零七年 二零零六年 |
Value 價值 |
|
|---|---|---|
| 2007 2006 二零零七年 二零零六年 HK$’000 HK$’000 千港元 千港元 |
||
| Ordinary shares of HK$0.50 each 每股面值0.50港元之普通股股份 Authorised 法定 – Balance as at 1st January and －於二零零七年一月一日及六月 30th June, 2007/1st January 三十日／二零零六年一月一日及 and 31st December, 2006 十二月三十一日之結餘 |
1,500,000,000 1,500,000,000 |
750,000 750,000 |
| Issued and fully paid 發行及已繳足 – Balance as at 1st January －於一月一日之結餘 – Conversion of convertible bonds －兌換可換股債券 |
1,317,471,940 1,177,462,496 – 140,009,444 |
658,736 588,731 – 70,005 |
| – Balance as at 30th June, 2007/ －於二零零七年六月三十日／ 31st December, 2006 二零零六年十二月三十一日之結餘 |
1,317,471,940 1,317,471,940 |
658,736 658,736 |
37
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
17. 儲備及少數股東權益
17. RESERVES AND MINORITY INTERESTS
HK$’000 千港元
| (a) | Share premium | (a) | 股份溢價 | |
|---|---|---|---|---|
| Balance at 1st January, 2006 | 於二零零六年一月一日之結餘 | 1,662,432 | ||
| Conversion of convertible bonds | 兌換可換股債券 | 277,575 | ||
| Balance at 30th June, 2006, | 於二零零六年六月三十日、 | |||
| 31st December, 2006 and 30th June, 2007 | 二零零六年十二月三十一日及 | |||
| 二零零七年六月三十日之結餘 | 1,940,007 | |||
| (b) | Special reserves | (b) | 特別儲備 | |
| Balance at 1st January, 2006, | 於二零零六年一月一日、 | |||
| 30th June, 2006, 31st December, 2006 | 二零零六年六月三十日、 | |||
| and 30th June, 2007 | 二零零六年十二月三十一日及 | |||
| 二零零七年六月三十日之結餘 | 296,276 | |||
| (c) | Capital redemption reserves | (c) | 資本贖回儲備 | |
| Balance at 1st January, 2006, | 於二零零六年一月一日、 | |||
| 30th June, 2006, 31st December, 2006 | 二零零六年六月三十日、 | |||
| and 30th June, 2007 | 二零零六年十二月三十一日及 | |||
| 二零零七年六月三十日之結餘 | 10,957 | |||
| (d) | Foreign currencies translation reserves | (d) | 外幣兌換儲備 | |
| Balance at 1st January, 2006 | 於二零零六年一月一日之結餘 | 125,351 | ||
| Exchange difference arising from | 截至二零零六年六月三十日止 | |||
| translation of overseas operations for | 六個月之換算海外業務產生 | |||
| the six months ended 30th June, 2006 | 之匯兌差額 | 24,952 | ||
| Balance at 30th June, 2006 | 於二零零六年六月三十日之結餘 | 150,303 | ||
| Exchange difference arising from | 截至二零零六年十二月三十一日止 | |||
| translation of overseas operations for | 六個月之換算海外業務產生 | |||
| the six months ended 31st December, 2006 | 之匯兌差額 | 89,374 | ||
| Balance at 31st December, 2006 | 於二零零六年十二月三十一日之結餘 | 239,677 | ||
| Exchange difference arising from | 截至二零零七年六月三十日止 | |||
| translation of overseas operations for | 六個月之換算海外業務產生 | |||
| the six months ended 30th June, 2007 | 之匯兌差額 | 72,943 | ||
| Balance at 30th June, 2007 | 於二零零七年六月三十日之結餘 | 312,620 |
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38
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
17. 儲備及少數股東權益 －續
17. RESERVES AND MINORITY INTERESTS
– Continued
HK$’000 千港元
| (e) | Share of reserves of associates and jointly | (e) | 應佔聯營公司及合營企業之儲備 | |
|---|---|---|---|---|
| controlled entities | ||||
| Balance at 1st January, 2006 | 於二零零六年一月一日之結餘 | 11,154 | ||
| Share of reserves of associates and jointly | 截至二零零六年六月三十日止 | |||
| controlled entities for the six months ended | 六個月應佔聯營公司及合營企業 | |||
| 30th June, 2006 | 之儲備 | 309 | ||
| Balance at 30th June, 2006 | 於二零零六年六月三十日之結餘 | 11,463 | ||
| Share of reserves of associates and jointly | 截至二零零六年十二月三十一日止 | |||
| controlled entities for the six months ended | 六個月應佔聯營公司及合營企業 | |||
| 31st December, 2006 | 之儲備 | 2,454 | ||
| Balance at 31st December, 2006 | 於二零零六年十二月三十一日之結餘 | 13,917 | ||
| Share of reserves of associates and jointly | 截至二零零七年六月三十日止 | |||
| controlled entities for the six months ended | 六個月應佔聯營公司及合營企業 | |||
| 30th June, 2007 | 之儲備 | 6,210 | ||
| Balance at 30th June, 2007 | 於二零零七年六月三十日之結餘 | 20,127 | ||
| (f) | Enterprises expansion reserve | (f) | 企業發展儲備 | |
| Balance at 1st January, 2006 and | 於二零零六年一月一日及 | |||
| 30th June, 2006 | 二零零六年六月三十日之結餘 | 46,347 | ||
| Transfer to retained earnings for the | 撥往截至二零零六年十二月三十一日 | |||
| six months ended 31st December, 2006 | 止六個月之保留溢利 | (1,482) | ||
| Balance at 31st December, 2006 and | 於二零零六年十二月三十一日及 | |||
| 30th June, 2007 | 二零零七年六月三十日之結餘 | 44,865 |
39
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
17. 儲備及少數股東權益 －續
17. RESERVES AND MINORITY INTERESTS
– Continued
HK$’000 千港元
| (g) | Investments reserve | (g) | 投資儲備 | |
|---|---|---|---|---|
| Balance at 1st January, 2006 | 於二零零六年一月一日之結餘 | (27,728) | ||
| Loss on changes in fair value of | 可供出售投資公平值變動之虧損 | |||
| available-for-sale investments | (5,114) | |||
| Release from sale of available-for-sale | 於出售可供出售投資時解除 | |||
| investments | 1,138 | |||
| Balance at 30th June, 2006 | 於二零零六年六月三十日之結餘 | (31,704) | ||
| Gain on changes in fair value of | 可供出售投資公平值變動之收益 | |||
| available-for-sale investments | 18,264 | |||
| Balance at 31st December, 2006 | 於二零零六年十二月三十一日之結餘 | (13,440) | ||
| Gain on changes in fair value of | 可供出售投資公平值變動之收益 | |||
| available-for-sale investments | 72,356 | |||
| Release from sale of available-for-sale | 於出售可供出售投資時解除 | |||
| investments | (3,946) | |||
| Balance at 30th June, 2007 | 於二零零七年六月三十日之結餘 | 54,970 | ||
| (h) | Share option reserve | (h) | 購股權儲備 | |
| Balance at 1st January, 2006 and | 於二零零六年一月一日及 | |||
| 30th June, 2006 | 二零零六年六月三十日之結餘 | 3,619 | ||
| Share option expenses | 購股權費用 | 7,887 | ||
| Balance at 31st December, 2006 and | 於二零零六年十二月三十一日及 | |||
| 30th June, 2007 | 二零零七年六月三十日之結餘 | 11,506 |
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40
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
17. 儲備及少數股東權益 －續
17. RESERVES AND MINORITY INTERESTS
– Continued
HK$’000
千港元
| (i) | Statutory surplus reserve | (i) | 法定盈餘儲備 | |
|---|---|---|---|---|
| Balance at 1st January, 2006 and | 於二零零六年一月一日及 | |||
| 30th June, 2006 | 二零零六年六月三十日之結餘 | 18,423 | ||
| Transfer from retained earnings for the | 撥自截至二零零六年十二月三十一日 | |||
| six months ended 31st December, 2006 | 止六個月之保留溢利 | 12,668 | ||
| Balance at 31st December, 2006 and | 於二零零六年十二月三十一日及 | |||
| 30th June, 2007 | 二零零七年六月三十日之結餘 | 31,091 | ||
| (j) | Reserve on acquisition | (j) | 收購儲備 | |
| Balance at 1st January, 2006, | 於二零零六年一月一日、 | |||
| 30th June, 2006, 31st December, 2006 | 二零零六年六月三十日、 | |||
| and 30th June, 2007 | 二零零六年十二月三十一日及 | |||
| 二零零七年六月三十日之結餘 | (165,440) | |||
| (k) | Retained earnings | (k) | 保留溢利 | |
| Balance at 1st January, 2006 | 於二零零六年一月一日之結餘 | 1,062,835 | ||
| Profit for the six months ended | 截至二零零六年六月三十日止 | |||
| 30th June, 2006 | 六個月之溢利 | 52,174 | ||
| 2005 final dividend paid | 派付二零零五年度末期股息 | (65,874) | ||
| Balance at 30th June, 2006 | 於二零零六年六月三十日之結餘 | 1,049,135 | ||
| Loss for the six months ended | 截至二零零六年十二月三十一日止 | |||
| 31st December, 2006 | 六個月之虧損 | (107,680) | ||
| Transfer to statutory surplus reserve | 轉撥予法定盈餘儲備 | (12,668) | ||
| Transfer from enterprise expansion reserve | 轉自企業發展儲備 | 1,482 | ||
| Balance at 31st December, 2006 | 於二零零六年十二月三十一日之結餘 | 930,269 | ||
| Profit for the six months ended | 截至二零零七年六月三十日止 | |||
| 30th June, 2007 | 六個月之溢利 | 160,507 | ||
| Balance at 30th June, 2007 | 於二零零七年六月三十日之結餘 | 1,090,776 |
41
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007
截至二零零七年六月三十日止六個月
17. 儲備及少數股東權益 －續
17. RESERVES AND MINORITY INTERESTS
– Continued
HK$’000 千港元
| (l) | Minority interests | (l) | 少數股東權益 | |
|---|---|---|---|---|
| Balance at 1st January, 2006 | 於二零零六年一月一日之結餘 | 150,812 | ||
| Share of foreign currencies translation | 應佔外幣兌換儲備 | |||
| reserves | 1,681 | |||
| Share of profit for the six months ended | 應佔截至二零零六年六月三十日 | |||
| 30th June, 2006 | 止六個月之溢利 | 550 | ||
| Balance at 30th June, 2006 | 於二零零六年六月三十日之結餘 | 153,043 | ||
| Share of foreign currencies translation | 應佔外幣兌換儲備 | |||
| reserves | 3,616 | |||
| Share of profit for the six months ended | 應佔截至二零零六年十二月三十一日 | |||
| 31st December, 2006 | 止六個月之溢利 | 1,572 | ||
| Balance at 31st December, 2006 | 於二零零六年十二月三十一日之結餘 | 158,231 | ||
| Share of foreign currencies translation | 應佔外幣兌換儲備 | |||
| reserves | 5,292 | |||
| Share of loss for the six months ended | 應佔截至二零零七年六月三十日 | |||
| 30th June, 2007 | 止六個月之虧損 | (24) | ||
| Balance at 30th June, 2007 | 於二零零七年六月三十日之結餘 | 163,499 | ||
| Total reserves and minority interests | 於二零零七年六月三十日之儲備 | |||
| at 30th June, 2007 | 及少數股東權益總額 | 3,811,254 | ||
| Total reserves and minority interests | 於二零零六年十二月三十一日 | |||
| at 31st December, 2006 | 之儲備及少數股東權益總額 | 3,497,916 |
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42
Tomson Group Limited 湯臣集團有限公司 / Interim Report 2007 中期報告
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 簡明綜合財務報表附註
For the six months ended 30th June, 2007 截至二零零七年六月三十日止六個月
==> picture [46 x 538] intentionally omitted <==
18. LONG-TERM BANK BORROWINGS
As at 30th June, 2007, bank loans of RMB550,000,000, approximately HK$565,262,000 (31st December, 2006: RMB560,000,000, approximately HK$556,937,000) were secured by certain properties under development and related lease premium for land with carrying value of HK$2,293,305,000 (31st December, 2006: HK$1,972,186,000) and certain investment properties with carrying value of HK$576,220,000 (31st December, 2006: HK$576,220,000) in Pudong, Shanghai.
19. CAPITAL COMMITMENTS
As at 30th June, 2007, the Group had capital commitments contracted but not provided for in relation to expenditure on properties under development amounted to approximately HK$1,114.84 million (31st December, 2006: HK$1,028.81 million).
20. RELATED PARTY TRANSACTION
Compensation of key management personnel
The remuneration of the Directors during the period was the shortterm benefits approximately of HK$5,309,000 (2006: HK$4,237,000). It is determined by reference to market terms, individual responsibilities and performance.
18. 長期銀行借款
於二零零七年六月三十日，銀行 貸款為人民幣 550,000,000元，約 565,262,000港元（二零零六年十 二月三十一日：人民幣 560,000,000元，約 556,937,000港 元），乃以位於上海浦東賬面值 為2,293,305,000港元（二零零六年 十二月三十一日： 1,972,186,000 港元）之若干發展中物業及相關 之土地租賃費用及賬面值為 576,220,000港元（二零零六年十 二月三十一日： 576,220,000港 元）之若干投資物業作抵押。
19. 資本承擔
於二零零七年六月三十日，本集 團就發展中物業開支之已訂約惟 尚未撥備之資本承擔約為 1,114,840,000港元（二零零六年十 二月三十一日： 1,028,810,000港 元）。
20. 關連人士交易
高級管理人員之酬金
期內之董事酬金約 5,309,000港元 （二零零六年：4,237,000港元）為 短期福利，此乃參考市場薪酬水 平及個別人士之職責及表現而釐 定。
43
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Interim Report
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2007
Tomson Group Limited Tomson Group Limited
(Incorporated in the Cayman Islands with limited liability) (Incorporated in the Cayman Islands with limited liability)
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