Annual Report 2022

27 年報 2022 ANNUAL REPORT MANAGEMENT DISCUSSION AND ANALYSIS 管理層論述及分析 銀行結存及現金及計息貸款 於二零二二年十二月三十一日，本集團之銀 行結存及現金（包括已抵押銀行存款）共港幣 225,908,000 元，比二零二一年十二月三十一 日 報 港 幣 269,354,000 元 下 降 16.1% 。本 集 團之總計息貸款於二零二二年十二月三十一 日報港幣 586,626,000 元（包括銀行貸款及 可換股債券），比二零二一年十二月三十一日 報港幣 687,686,000 元（包括來自一間關連 公司之貸款、銀行貸款及可換股債券）下降 14.7% 。因此，計息貸款淨額（計息貸款總額 減去已抵押銀行存款、銀行結存及現金）由二 零二一年十二月三十一日的港幣 418,332,000 元減少至二零二二年十二月三十一日的港幣 360,718,000 元。 負債及流動資產比率 本集團之負債比率指計息貸款總額減銀行結存 及現金（包括已抵押銀行存款）除以本集團權益 總額，由二零二一年十二月三十一日報 24.1% 下降至二零二二年十二月三十一日報 21.8% 。 本集團於二零二二年十二月三十一日的流動比 率（以流動資產除以流動負債計算）為 1.18 倍， 相對於二零二一年十二月三十一日則為 1.09 倍。 外幣及利率風險 本集團的收入來源主要以歐元、人民幣和美元 為單位，而購買和付款的收入來源則主要以港 元、人民幣和美元為單位。至於利率風險，截 至二零二二年十二月三十一日的所有計息貸款 主要是按固定利率計息。於本年度，本集團並 無使用任何衍生工具作對沖用途。 我們將不時檢討及調整計息貸款的貨幣組合， 以盡量減少我們的計息貸款的匯率和利率風 險。無論如何，我們會根據內部監控指引下， 持續監察本集團計息貸款的貨幣及利率組合， 及於需要時採取適當行動，以減低匯兌及利率 的風險。 Bank balances and cash and interest bearing borrowings The Group’s bank balances and cash (including pledged bank deposits) amounted to HK$225,908,000 at 31 December 2022, decreased by 16.1% as compared to HK$269,354,000 at 31 December 2021. Total interest bearing borrowings of the Group were HK$586,626,000 (comprised of bank borrowings and Convertible Bonds) at 31 December 2022, decreased by 14.7% as compared to HK$687,686,000 (comprised of loan from a related company, bank borrowings and Convertible Bonds) at 31 December 2021. The amount of net interest bearing borrowings (total interest bearing borrowings less pledged bank deposits and bank balances and cash) therefore decreased from HK$418,332,000 at 31 December 2021 to HK$360,718,000 at 31 December 2022. Debt and liquidity ratios Gearing ratio represented total interest bearing borrowings less bank balances and cash (including pledged bank deposits) divided by total equity of the Group and decreased from 24.1% at 31 December 2021 to 21.8% at 31 December 2022. The current ratio (calculated as current assets divided by current liabilities) of the Group was 1.18 times at 31 December 2022 as compared to 1.09 times at 31 December 2021. FOREIGN CURRENCY AND INTEREST RATE EXPOSURES The Group’s source of revenue is mainly denominated in EUR, RMB and USD, while those of purchases and payments are mainly denominated in HKD, RMB and USD. In respect of exposure to interest rate risk, all the interest bearing borrowings at 31 December 2022 were mainly at fixed rates. During the year, the Group did not use any derivatives instrument for hedging purposes. We will review and adjust the currency composition of our interest bearing borrowings from time to time to minimise our risks on exchange and interest rate in respect of our interest bearing borrowings. In any event, we would keep monitoring the currency and interest rate composition of the Group’s interest bearing borrowings under the guidance of the Internal Control Manual and take appropriate action to minimise our exchange and interest rate risks when needed.