Annual Report 2020

MANAGEMENT DISCUSSION AND ANALYSIS 管理層論述及分析 32 SHOUGANG CONCORD CENTURY HOLDINGS LIMITED 首長寶佳集團有限公司 財資政策 本集團的財資政策集中於流動資金管理和監控 財務風險，包括利率風險、匯兌風險和交易對 手風險。其目的是確保本集團有充足的財務資 源以在財務狀況可行情況下維持業務增長。 本集團的剩餘資金一般以短期存款（以港幣、 人民幣或美元為單位）存放在香港及中國信譽 良好的銀行。本集團的資金籌措主要包括銀行 的貸款及可換股債券，貸款組合會考慮本集團 的資金流動性及利息成本而作出。 股本、資金流動及財政資源 股本及資產淨值 本公司管理其資本架構的目的以確保本集團之 業務能繼續可持續增長及為股東提供一個長期 合理的回報。 於二零二零年十二月三十一日，本公司已發行 股份總數目為 1,899,024,556 股（二零一九年： 1,922,900,556 股）。本集團於二零二零年十二 月三十一日之資產淨值報港幣 1,645,571,000 元，比二零一九年十二月三十一日的港幣 1,415,072,000 元上升 16.3% 。於二零二零年 十二月三十一日的每股資產淨值報港幣 0.867 元，比於二零一九年十二月三十一日每股報港 幣 0.736 元亦上升 17.8% 。 TREASURY AND FUNDING POLICIES The treasury and funding policies of the Group concentrate on the management of liquidity and the monitoring of financial risks, including interest rate risk, currency risk and counterparty risks. The objectives are to ensure the Group has adequate financial resources to maintain business growth with a viable financial position. Surplus funds of the Group are generally placed on short term deposits denominated in HKD, RMB or USD with reputable banks in Hong Kong and the PRC. The financing of the Group principally comprises bank loans and Convertible Bonds. The financing portfolio takes into consideration of the liquidity of the Group and interest costs. SHARE CAPITAL, LIQUIDITY AND FINANCIAL RESOURCES Share capital and net asset value The Company manages its capital structure with the objectives of ensuring that the businesses of the Group can maintain a sustainable growth and providing a long- term reasonable returns to its Shareholders. The total number of issued shares of the Company was at 1,899,024,556 Shares at 31 December 2020 (2019: 1,922,900,556 Shares). Net asset value of the Group was HK$1,645,571,000 at 31 December 2020, increased by 16.3% as compared to HK$1,415,072,000 at 31 December 2019. Net asset value per Share was HK$0.867 at 31 December 2020, also increased by 17.8% as compared to HK$0.736 at 31 December 2019.