Annual Report 2019

87 年報 ANNUAL REPORT 2019 REPORT OF THE DIRECTORS 董事會報告書 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） 4. 本集團運用一定程度的銀行貸款為其 營運提供資金。於二零一九年十二月 三十一日，一年內到期銀行貸款的比例 佔本集團總銀行貸款的 65.6% ，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 以償還於二零二零年到期貸款，以逐漸 減少本集團的計息貸款總額。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 於二零二零年到期的貸款，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。 PRINCIPAL RISKS AND UNCERTAINTIES (continued) Risks and uncertainties relating to the Group’s results and financial position (continued) 4. The Group utilized a certain extent of bank borrowings to finance its operations. As at 31 December 2019, the percentage of bank borrowings due within one year accounted for 65.6% of total bank 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 2020 by utilizing cash generated from its operations, 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 2020, 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.