Interim Report 2018

Management Discussion and Analysis 管理層討論與分析 20 Sunny Optical Technology (Group) Company Limited INTERIM REPORT 2018 COMMITMENTS As at 30 June 2018, the capital expenditure of the Group in respect of purchases of property, plant and equipment contracted for but not provided in the condensed consolidated financial statements amounted to approximately RMB737.2 million (31 December 2017: approximately RMB789.6 million). As at 30 June 2018, the Group had no other capital commitments save as disclosed above. OFF-BALANCE SHEET TRANSACTIONS As at 30 June 2018, the Group did not enter into any material off- balance sheet transactions. PERFORMANCE OF INVESTMENTS MADE AND FUTURE INVESTMENTS PLAN The Group’s investing activities mainly include the purchase and redemption of financial assets at fair value through profit or loss, placement and withdrawal of pledged bank deposits, placement and withdrawal of short-term fixed deposits and purchases of property, plant and equipment. In particular, such purchase and redemption of financial assets at fair value through profit or loss involve debt investments, equity investments, fund investments, and unlisted financial products and structured deposits. Among which the fund investments are managed by the relevant financial institution to invest principally in debt securities linked to the performance of the underlying senior debt, and the unlisted financial products are managed by related banks in the PRC to invest principally in certain financial assets including bonds, trusts and cash funds, etc. and the return of the unlisted financial products is determined by reference to the performance of the underlying government debt instruments and treasury notes. For the six months ended 30 June 2018, the Group’s investments amounted to approximately RMB1,092.0 million, which mainly involves the purchases of machinery and equipment, as well as the initial production settings of new products, acquisition of land use rights, purchase of intangible assets and necessary equipment configurations of new projects. These investments enhanced the Group’s R&D and technology application capabilities and production efficiency, and thus expanded the sources of revenue. The Group adopts prudent financial policies, having its investment projects mostly capital-protected with fixed income, so as to strive for a stable and healthy financial position while improving the returns. The Group did not and has no plan to use any financial instrument for hedging purposes and will continue to fund its future investments from its own financial resources. Looking forward, the Group intends to further invest to enhance its competitiveness. 承擔 於二零一八年六月三十日，本集團就購置物業、 機器及設備有已訂約但未於簡明綜合財務報表撥 備的資本開支約人民幣 737,200,000 元（二零一 七年十二月三十一日：約為人民幣 789,600,000 元）。 於二零一八年六月三十日，除上述披露外，本集 團並無任何其它資本承擔。 資產負債表以外交易 於二零一八年六月三十日，本集團並無訂立任何 重大的資產負債表以外交易。 投資表現及未來投資計劃 本集團的投資活動主要包括購置及贖回按公允價 值計入損益的金融資產、存放及提取已抵押銀行 存款、存放及提取短期定期存款及購置物業、機 器及設備。尤其是，該等購置及贖回按公允價值 計入損益的金融資產包括：債務投資、股權投 資、基金投資及非上市金融產品及結構性存款。 其中，基金投資由相關金融機構管理，主要投資 於和相關優先債表現掛鉤的債務證券；非上市金 融產品由中國相關銀行管理，主要投資於債券、 信託及現金基金等若干金融資產，其投資收益則 根據相關政府債務工具及國庫券的表現釐定。截 至二零一八年六月三十日止六個月，本集團動用 約人民幣 1,092,000,000 元進行投資活動，主要用 作購置機器及設備、以及新產品之產能初始化設 置、購買土地使用權、購置無形資產和新項目的 必要設備配置。該等投資增強了本集團的研發及 技術應用能力及生產效率，並拓闊了收入來源。 本集團財務政策保持審慎原則，投資項目多為保 本且固定收益之項目，以求財務狀況穩健的同 時，提高回報。本集團並無且並無計劃使用任何 金融工具作對沖用途，並將繼續以其自身的財務 資源作為其未來投資之資金來源。 展望未來，本集團擬進一步投資以加強競爭力。