Annual Report 2018

107 年報 ANNUAL REPORT 2018 董事會報告書 REPORT OF THE DIRECTORS FINANCIAL KEY PERFORMANCE INDICATORS (continued) Average turnover period on trade payables Average turnover period on trade payables (calculated as average trade payables for the year divided by cost of sales (exclusive of value-added tax in respect of cost of sales in the PRC) times 365 days) was 108 days for the year, which was 14 days longer as compared to 94 days for the previous year, as we obtained longer credit period from certain suppliers of the Group during the year. Steel cord production capacity utilization ratio As the sales volume of steel cords recorded an year-on-year growth of 6.3% to 184,910 tonnes for the year, therefore the capacity utilization ratio in respect of Steel cord segment (calculated as total sales volume of steel cords for the year divided by total production capacity of steel cords of 190,208 tonnes per annum) increased from 94% in the previous year to 97% for the year. Further details regarding the above and other financial information, please refer to the section “ MANAGEMENT DISCUSSION AND ANALYSIS ” of this annual report. Key performance indicators mean factors by reference to which the development, performance or position of the business of the Group can be measured effectively which we can use to monitor progress against our strategies while figures reporting under accounting standards could not serve such purpose. FUTURE DEVELOPMENT OF THE COMPANY’S BUSINESS In the view that uncertainty is one of the main challenges facing by the Chinese economy, the performance of the steel cord industry might be affected unless a strong cash flow is maintained as well as cost saving and risk mitigation measures are implemented in order. Details of future development of the Company’s business, please refer to the sections “ CHAIRMAN’S STATEMENT ” and “ MANAGEMENT DISCUSSION AND ANALYSIS ” of this annual report. 財務關鍵表現指標 （續） 應付賬款平均周轉期 本年度的應付賬款平均周轉期（以本年度的平 均應付賬款除以銷售成本（不包括於中國銷售 成本的增值稅）乘以 365 天計算）為 108 天，較 於去年度為 94 天多 14 天，因為於本年度本集 團之若干供應商取得較長信貸期。 鋼簾線產能利用率 由於本年度鋼簾線銷售量同比增長 6.3% 至 184,910 噸，因此於本年度的鋼簾線分部的產 能利用率（按本年度鋼簾線總銷售量除以鋼簾 線總產能每年為 190,208 噸計算）由去年度報 94% 上升至 97% 。 關於上述及其他財務資料的進一步詳情載列於 本年報的「 管理層論述及分析 」的章節內。關鍵 表現指標指可籍參照有效地衡量本集團業務的 發展、表現或狀況的因素而用以監察我們實施 策略的進度，而按會計準則製定的數據則未能 達到此目的。 本公司業務未來發展 由於不確定性是中國經濟面臨的主要挑戰之 一，鋼簾線業務的表現可能會受到影響，除非 保持強勁的現金流及適當地實施成本節約和風 險緩解措施。就本公司業務未來發展的詳情， 請參閱本年報「 董事長報告書 」及「 管理層論述 及分析 」章節。