Annual Report 2023

Management Discussion and Analysis 管理層討論與分析 32 Sunny Optical Technology (Group) Company Limited • ANNUAL REPORT 2023 市場風險的量化和質化披露 利率風險 本集團面對作為營運資金、用於本集團拓展和 其他用途的資本開支以及再融資的銀行借貸利 率風險。利率的上調會增加現有及新增債務之 成本。於二零二三年十二月三十一日，固定利 率銀行借貸的實際年利率約 2.10% 至 3.97% ， 而可變利率銀行借貸的實際年利率約 3.00% 。 匯率波動風險 本集團部分產品會出口銷售至國際市場，同時 也從國際市場購買大量產品，以上交易以美元 或其它外幣計值。有關本集團遠期外匯合約、 外匯期權合約及外匯掉期合約之詳情，請參閱 本年報綜合財務報表附註 28 。除就本集團業務 所進行及以外幣列值的若干投資外，本集團並 未及無計劃作出其他任何外幣投資。 信貸風險 本集團的金融資產包括衍生金融資產、現金及 現金等值項目、已抵押銀行存款、短期定期存 款、定期存款、按公允值計入損益的金融資 產、貿易及其他應收款項及預付款項、應收關 連人士款項、按公允值計入其他全面收益（「 按 公允值計入其他全面收益 」）的應收款項及按公 允值計入其他全面收益的權益工具，這些為本 集團所面對有關金融資產的最高信貸風險。 QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK Interest Rate Risk The Group is exposed to interest rate risks arising from its bank borrowings for working capital, capital expenditure for expansion and other purposes of the Group and refinancing. The rising of interest rates increases the costs of both existing and new debts. As at 31 December 2023, the effective interest rate on fixed-rate bank borrowings was approximately 2.10% to 3.97% per annum, while the effective interest rate of variable-rate bank borrowings was approximately 3.00% per annum. Foreign Exchange Rate Fluctuation Risk The Group exports a portion of its products to and purchases a considerable amount of products from international markets where transactions are denominated in USD or other foreign currencies. For details of the Group’s foreign currency forward contracts, foreign currency options contracts and foreign exchange swap contracts, please refer to Note 28 to the consolidated financial statements in this annual report. Except certain investments which are in line with the Group’s business and which are denominated in foreign currencies, the Group did not and has no plan to make any other foreign currency investment. Credit Risk The Group’s financial assets include derivative financial assets, cash and cash equivalents, pledged bank deposits, short-term fixed deposits, time deposits, financial assets at FVTPL, trade and other receivables and prepayments, amounts due from related parties, receivables at fair value through other comprehensive income (“ FVTOCI ”) and equity instruments at FVTOCI, which represent the Group’s maximum exposure to credit risk in relation to financial assets.