Annual Report 2008

Sunny Optical Technology (Group) Company Limited 舜宇光學科技（集團）有限公司 138 Notes to the Consolidated Financial Statements FOR THE YEAR ENDED 31 DECEMBER 2008 綜合財務報表附註 截至二零零八年十二月三十一日止年度 29. 金融工具（續） b. 財務風險管理目標及政策（續） 市場風險（續） 利率風險 本集團因固定利率銀行借貸而面對公允 值利率風險（貸款詳情見附註 26 ）。本集 團目的是把借貸保持在可變利率。本集 團目前沒有任何利率對沖政策。然而， 本集團會監控利率風險並會在有需要時 考慮對沖重大利率風險。 本集團因銀行存款（貸款詳情見附註 23 ） 及可變利率銀行借貸（貸款詳情見附註 26 ）而面對現金流量利率風險。本集團的 政策是把借貸保持在可變利率以減低公 允值利率風險。 本集團金融負債利率風險已在本附註流 動性風險管理一節中作詳細說明。本集 團的現金流量利率風險主要集中在韓國 的可浮利率波動，乃由集團以有韓元計 價借貸（其實際年利率為 7.56% ）而產 生。 利率敏感度分析 以下的敏感度分析乃按照結算日的浮息 釐定。該分析假設在結算日存在的銀行 借貸在全年存在。年底利率的合理可能 變化為增減 50 個基點。 倘利率增╱減 50 個基點，而所有其他可 變因素維持不變，則本集團截至二零零 八年十二月三十一日止年度的溢利應會 減少╱增加約人民幣 178,000 元（二零零 七年：無）。 29.FINANCIAL INSTRUMENTS (Continued) b. Financial risk management objectives and policies (Continued) Market risks (Continued) Interest rate risk The Group is exposed to fair value interest rate risk in relation to fixed-rate bank borrowing (see note 26 for details of this borrowing). The Group aims at keeping borrowings at variable rates. The Group currently does not have interest rate hedging policy. However, the Group monitors interest rate exposure and will consider hedging significant interest rate exposure should the need arise. The Group is also exposed to cash flow interest rate risk in relation to bank deposits (see note 23 for details of these deposits) and variable-rate bank borrowings (see note 26 for details of these borrowings). It is the Group’s policy to keep its borrowings at floating rate of interests so as to minimise the fair value interest rate risk. The Group’s exposures to interest rates on financial liabilities are detailed in the liquidity risk management section of this note. The Group’s cash flow interest rate risk is mainly concentrated on the fluctuation of floating interest rate in Korea with the effective interest rate of 7.56% per annum arising from the Group’s KRW denominated borrowings. Interest rate sensitivity analysis The sensitivity analysis below has been determined based on the exposure to floating interest rates at the balance sheet date. The analysis is prepared assuming the bank borrowings outstanding at the balance sheet date were outstanding for the whole year. A 50 basis point increase or decrease is used to present the reasonably possible change in interest rates at the year end. If interest rates had been 50 basis points higher/lower and all other variables were held constant, the post-tax profit for the year ended 31 December 2008 would decrease/increase approximately by RMB178,000 (2007: nil).