Annual Report 2018

104 SHOUGANG CONCORD CENTURY HOLDINGS LIMITED 首長寶佳集團有限公司 董事會報告書 REPORT OF THE DIRECTORS PRINCIPAL RISKS AND UNCERTAINTIES (continued) Risks and uncertainties relating to the Group’s results and financial position (continued) 5. The Group utilized a certain extent of borrowings to finance its operations. As at 31 December 2018, the gear i ng ra t i o of the Group was 71 . 4%, and the percentage of borrowings due within one year accounted for 75.8% of total borrowings of the Group, therefore the Group will be exposed to the liquidity risks of inability of repaying these borrowings when due. The Group is expected to service the debt repayments due in 2019 by utilizing cash generated from its operations and refinancing from banks and other sources, with an objective to gradually reduce the amount of interest bearing borrowings of the Group. However, the Group’s ability to generate sufficient cash to service its outstanding debts and obligations will depend on the operating performance of its various business segments in the future, which will be affected by factors such as the prevailing economic and liquidity conditions, the demand of its products and prevailing selling prices. Whether the Group can refinance its borrowings also depends on a number of factors, including the operating performance and financial conditions of the Group, the prevailing economic conditions, the prevailing credit policy of respective lender and the liquidity of the financial markets. If the Group is unable to service any of its borrowings due in 2019, this may result in a default and will have significant adverse impact to the financial position of the Group as the Group will be requested to repay full or part of its outstanding borrowings on an accelerated basis. The management of the Company is seeking for various banks refinancing to mitigate these potential risks. 主要風險和不明朗因素 (續) 關於本集團之業績及財務狀況的風險和不 明朗因素 (續) 5. 本集團運用一定程度的貸款為其營運提 供資金。截至二零一八年十二月三十一 日,本集團的負債比率為 71.4% ,和一 年內到期貸款的比例佔本集團總貸款的 75.8% ,因此本集團將面臨當該等貸 款到期時無法償還的流動性風險。本集 團預期將運用來自其營運產生的現金和 銀行融資及其他來源以償還於二零一九 年到期貸款,以逐漸減少本集團的計息 貸款金額。然而,本集團產生足夠現金 來償還其未償還貸款的能力和義務將取 決於其將來的各業務分部的營運表現, 而其將受到各種因素的影響,例如:現 行的經濟和流動性狀況、產品的需求和 現行售價。而本集團能否再融資貸款亦 取決於許多因素,包括本集團的營運表 現和財務狀況、現行的經濟條件、各貸 款人的現行信貸政策和金融市場的流動 性。如果本集團無法償還於二零一九年 到期的貸款,可能會導致違約及將對本 集團的財務狀況有顯著的負面影響,因 本集團將被要求加快償還全部或部分的 未償還的貸款。本公司管理層正在尋求 各銀行再融資來減輕這些潛在的風險。

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