[公告]鼎亿集团投资：二零一七年年报
Contents 目錄 鼎億集團投資有限公司 二零一七年年報 1 Page 頁次 Financial Summary 財務概要 2 Corporate Information 企業資料 4 Chairman’s Statement 主席報告 6 Management Discussion and Analysis 管理層討論及分析 9 Management Profile 管理層簡介 29 Financial Review 財務回顧 35 Corporate Governance Report 企業管治報告書 38 Environmental, Social and Governance Report 環境、社會及管治報告 55 Report of the Directors 董事會報告書 61 Independent Auditor’s Report 獨立核數師報告 81 Consolidated Statement of Profit or Loss 合併損益表 89 Consolidated Statement of Profit or Loss and Other Comprehensive Income 合併損益及其他綜合收益表 90 Consolidated Statement of Financial Position 合併財務狀況表 91 Consolidated Statement of Changes in Equity 合併權益變動表 93 Consolidated Statement of Cash Flows 合併現金流量表 94 Notes to the Consolidated Financial Statements 合併財務報表附註 96 Financial Summary 財務概要 DINGYI GROUP INVESTMENT LIMITED ANNUAL REPORT 2017 2 SEGMENT REVENUE BY GEOGRAPHICAL MARKET 按地區市場劃分之分類收入 Revenue from external customers 來自外部客戶之收入 2017 2016 二零一七年 二零一六年 HK$’000 HK$’000 港幣千元 港幣千元 Hong Kong 香港 47,784 27,376 Mainland China 中國內地 6,335 13,327 Total 總額 54,119 40,703 2016 2017 2015 2014 2013 41 105 70 46 54 199 407 517 389 (284) 2013 2014 2015 2016 2017 10.5 7.3 (8.6) 8.4 12.3 2013 2014 2015 2016 2017 Revenue 收益 Shareholders’ funds 股東資金 (HK$ Million 港幣百萬元) Net asset value per share (excluding non-controlling interests) 每股資產淨值 （不包括非控制性權益） (HK cents 港仙) Financial Summary 財務概要 鼎億集團投資有限公司 二零一七年年報 3 下列為鼎億集團投資有限公司（「本公司」）及其 附屬公司（統稱「本集團」）於過往五年截至三月 三十一日止年度之總資產、總負債、總權益、股 本、業績及其他財務資料概況。 The following is a summary of the total assets, total liabilities, total equity, share capital, results and other financial information of DINGYI GROUP INVESTMENT LIMITED (the “Company”) and its subsidiaries (collectively, the “Group”) as of year ended 31 March for the last five years. Financials (HK$ Million) 財務項目（港幣百萬元） 2017 2016 2015 2014 2013 二零一七年 二零一六年 二零一五年 二零一四年 二零一三年 Total assets 總資產 1,128 1,082 513 509 275 Total liabilities 總負債 740 565 727 111 85 Total equity 總權益 389 517 (214) 398 190 Non-controlling interests 非控制性權益 – – 70 (9) (9) Shareholders’ funds 股東資金 389 517 (284) 407 199 Share capital 股本 – in number (Million) －數目（百萬股） 5,318 4,936 3,305 3,305 2,375 – in value －數值 53 49 33 33 24 Revenue 收入 54 41 29 43 67 Loss attributable to the owners of the Company 本公司股權持有人 應佔虧損 (470) (511) (724) (140) (30) Per Share Basis (HK cents) 每股基本（港仙） Loss – Basic 虧損－基本 (9.06) (11.54) (21.92) (4.47) (1.27) – Diluted －攤薄 (9.06) (11.54) (21.92) (4.49) (1.27) Dividends 股息 – – – – – Net asset (liability) value (excluding non-controlling interests) 資產（負債）淨值 （不包括非控制性權益） 7.3 10.5 (8.6) 12.3 8.4 Corporate Information 企業資料 DINGYI GROUP INVESTMENT LIMITED ANNUAL REPORT 2017 4 BOARD OF DIRECTORS Executive Directors Mr. LI Kwong Yuk (Chairman) Mr. SU Xiaonong (Chief Executive Officer) Mr. CHEUNG Sze Ming Ms. LIU Yutong (appointed on 21 February 2017) Mr. ZHENG Xiantao (appointed on 21 February 2017) Independent Non-executive Directors Mr. CHOW Shiu Ki Mr. CAO Kuangyu Mr. IP Chi Wai COMPANY SECRETARY Mr. CHAN Kwong Leung, Eric AUDITOR SHINEWING (HK) CPA Limited 43/F, Lee Garden One 33 Hysan Avenue Causeway Bay Hong Kong LEGAL ADVISERS Jeffrey Mak Law Firm Estera AUTHORISED REPRESENTATIVES Mr. CHEUNG Sze Ming Mr. CHAN Kwong Leung, Eric AUDIT COMMITTEE Mr. CHOW Shiu Ki (Chairman) Mr. CAO Kuangyu Mr. IP Chi Wai REMUNERATION COMMITTEE Mr. CHOW Shiu Ki (Chairman) Mr. SU Xiaonong Mr. CHEUNG Sze Ming Mr. CAO Kuangyu Mr. IP Chi Wai 董事會 執行董事 李光煜先生（主席） 蘇曉濃先生（行政總裁） 張詩敏先生 劉禹彤女士（於二零一七年二月二十一日獲委任） 鄭先濤先生（於二零一七年二月二十一日獲委任） 獨立非執行董事 周肇基先生 曹貺予先生 葉志威先生 公司秘書 陳鄺良先生 核數師 信永中和（香港）會計師事務所有限公司 香港 銅鑼灣 希慎道33號 利園一期43樓 法律顧問 麥振興律師事務所 Estera 授權代表 張詩敏先生 陳鄺良先生 審核委員會 周肇基先生（主席） 曹貺予先生 葉志威先生 薪酬委員會 周肇基先生（主席） 蘇曉濃先生 張詩敏先生 曹貺予先生 葉志威先生 Corporate Information 企業資料 鼎億集團投資有限公司 二零一七年年報 5 NOMINATION COMMITTEE Mr. LI Kwong Yuk (Chairman) Mr. CHOW Shiu Ki Mr. IP Chi Wai PRINCIPAL BANKERS China Construction Bank (Asia) Corporation Limited Bank of Shanghai (Hong Kong) Limited Industrial and Commercial Bank of China (Asia) limited Hang Seng Bank Limited REGISTERED OFFICE Canon’s Court 22 Victoria Street Hamilton, HM 12, Bermuda PRINCIPAL PLACE OF BUSINESS IN HONG KONG Unit 2708, 27/F. Convention Plaza – Office Tower 1 Harbour Road, Wanchai, Hong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFER AGENT IN BERMUDA MUFG Fund Services (Bermuda) Limited The Belvedere Building 69 Pitts Bay Road Pembroke HM08 Bermuda BRANCH SHARE REGISTRAR AND TRANSFER OFFICE IN HONG KONG Tricor Standard Limited Level 22, Hopewell Centre 183 Queen’s Road East Hong Kong SHARE LISTING The Stock Exchange of Hong Kong Limited Stock Code: 508 WEBSITE http://www.dingyi.hk 提名委員會 李光煜先生（主席） 周肇基先生 葉志威先生 主要往來銀行 中國建設銀行（亞洲）股份有限公司 上海銀行（香港）有限公司 中國工商銀行（亞洲）有限公司 恒生銀行有限公司 註冊辦事處 Canon’s Court 22 Victoria Street Hamilton, HM 12, Bermuda 於香港之主要營業地點 香港灣仔港灣道1號 會展廣場辦公大樓 27樓2708室 於百慕達之股份過戶登記總處 MUFG Fund Services (Bermuda) Limited The Belvedere Building 69 Pitts Bay Road Pembroke HM08 Bermuda 於香港之股份過戶登記分處 卓佳標準有限公司 香港 皇后大道東183號 合和中心22樓 股份上市 香港聯合交易所有限公司 股份代號：508 網址 http://www.dingyi.hk Chairman’s Statement 主席報告 DINGYI GROUP INVESTMENT LIMITED ANNUAL REPORT 2017 6 By abiding the corporate spirit of “seizing early opportunities, pursuing excellence, progressing proactively and forging ahead innovatively”, all over the years, we have all along been adhering to the industry intrinsic value as the core of our investment philosophy. We believe all investment values are built on the growth and success of business operation. We applied the perfect investment evaluation and management system to select and invest in those enterprises that have high growth potential and solid business in their own industry sector. Meanwhile, we also worked closely with the management teams of prominent enterprises, seeking mutual development to maximize our own investment value through the joint growth with the investees. Like in the past, we continued to move forward dependably in achieving to “leap into the world with our foothold in China and become a professional investment institute with international competitiveness focusing on scalable industry investment”. Apart from our existing securities trading, loan financing, financial leasing business and food and beverages businesses, during the year, the Group also entered into subscription agreements regarding the issuance of convertible bonds in the aggregate principal amount of HK$850 million and convertible bonds in the amount of HK$59.5 million respectively. The net proceeds of the issuance of convertible bonds were intended to be used to fund the Group’s business development, in particular, the setting up of the Group’s medical management company, utilising advanced medical technologies and equipment to focus on the field of oncology treatment and operation management, short-term loan financing business and to replenish the working capital of the Group. During the year, the Company issued convertible bonds in the aggregate principal amount of HK$279.5 million in total, and all of the remaining aggregate principal amount were also issued before the date of this annual report. During the past year, the Company devote much time to continued to explore different investment opportunities proactively. In addition, the management team visited different regions in China, North America and Southeast Asia to explore and study other investment opportunities in resources, especially new energy, other mining industry, medical new technology and financial projects, as well as investments in loan and financial leasing business, etc. The Company is confident about the prospect of such investment projects. We will notify our shareholders important information whenever is available. 秉承「把握先機、追求卓越、銳意進取、勇於創新」 的企業精神，多年來，我們一直堅持以產業內在價 值為核心的投資理念，我們相信，一切投資價值都 是建立在產業經營的成長與成功之上。我們運用 完善的投資評價管理體系，選擇那些具有高成長 性，按照產業發展規律扎扎實實經營的企業進行 投資。與此同時，我們還和這些優秀企業的經營管 理團隊緊密合作，共謀發展，真正通過與被投資企 業共同成長來實現自身投資價值的最大化。 在實現「立足中國、面向世界，成為一家專注於規 模化產業投資、擁有國際競爭力的專業投資機構」 的征途上，我們一如既往的踏實前進著。除現有證 券買賣、貸款融資、融資租賃業務及餐飲業務之 外，亦於本年度就發行本金總額為港幣8.5億元之 可換股債券及金額為港幣5,950萬元之可換股債券 訂立認購協議。發行可換股債券所得款項淨額擬用 作為本集團業務發展提供資金，特別是組建本集 團之醫療管理公司，利用先進醫療技術及設備，專 注於腫瘤治療領域和運營管理，短期貸款融資業 務，以及補充本集團之營運資金。於年內，共有為 本金總額港幣2億7,950萬元之可換股債券發行， 而其餘的本金總額亦於本年報日期前全部發行。 過去一年，本公司除了投入不少時間積極探討不 同的投資機會，管理團隊更多次前往國內、北美及 東南亞等地，考察和研究資源特別是新能源、其他 礦業、醫療新科技及金融項目之投資機遇，以及貸 款、融資租賃業務等投資。本公司對這方面的投資 項目的前景有信心，若有重要消息，當儘快通知股 東。 Chairman’s Statement 主席報告 鼎億集團投資有限公司 二零一七年年報 7 The loss of the Company during the year was mainly attributable to the convertible bonds in amount of HK$850 million that entered into, the fair value loss of derivative financial liabilities on the partial issued convertible bonds and share-based payment expenses of over 500 million share options granted during the year calculated according to the accounting standard, as well as the loss arising from the changes in fair value of securities investment calculated according to the accounting standard. However, these accounting losses did not have any effect on the cash flow of the Group. The Group’s annual revenue was mainly contributed by loan financing, securities dividends and disposal, which represented a significant increase as compared to last year. Subsequent to the balance sheet date, the Company entered into the joint venture agreements with China CNNE Investment Limited*（中 核新能投資有限公司）and formed two joint ventures respectively. The first joint venture is for investment advisory services, wholesale and retails of pharmaceutical, the development, transfer, advices and services on the field on pharmaceutical technologies. The second joint venture is for the investment in hospitals and medical projects especially in proton medical center projects; medical technology research and development including proton accelerator and supporting scientific laboratory equipment. During this reporting period, the Company also completed all its contributions for the parts it invested. Subsequent to the balance sheet date, the Company also entered into an acquisition agreement with myself, the Company has conditionally agreed to acquire Xintai Investment Company Limited*（湛江鑫泰投 資有限公司）（“Xintai”）, a company indirectly held by me. Xintai is principally engaged in the development, operation and investment of property in Chikan District, Zhanjiang, Guangdong Province, the PRC. Xintai also holds One Parkview*（公園一號）, which comprises the unsold residential buildings together with a number of retail shops, car parks and facilities and developable vacant lands. The Company is very optimistic about the revenue and profit to be brought by the property development industry in which it will engage in the PRC in future. I am also pleased to learn about that the Company would be included by Morgan Stanley Capital International (“MSCI”) as a constituent of the MSCI Hong Kong Small Cap Index with effect from the market closing of 31 May 2017. 對於本年度內本公司的虧損，主要是由本年度簽 訂的港幣8.5億元可換股債券、已經發行部份的可 換股債券及5億多股的購股權，按會計準則計算出 來的衍生金融負債之公允值虧損及以股份為基礎 之付款開支；及證券投資按會計準則公允值變動 產生之虧損；唯此等會計虧損對本集團並無任何 現金流出影響。本年度集團主要貢獻來自貸款融 資及證券股息及出售的收入，此等收入較去年有 明顯增長。 本公司於年結日後和中核新能投資有限公司訂立 合營協議，分別成立兩間合營公司。第一間合營公 司進行投資諮詢服務、藥品批發及零售、藥品科技 領域內的技術開發、轉讓、諮詢及服務；第二間合 營公司對醫院及醫療項目的投資，特別在質子醫 療中心項目；醫療技術研發（包括質子加速器及配 套科學實驗設備）等。在本報告期內，本公司也完 成所有出資的部份。 本公司亦於年結日後和本人簽訂收購協議，有條 件同意收購本人間接持有的湛江鑫泰投資有限公 司（「鑫泰」）。鑫泰在中國廣東省湛江赤坎區主要 從事物業開發、營運及投資，鑫泰亦持有公園一號 包括未售賣的住宅樓宇連同多個零售舖位、停車 位、設施組成及可發展的空地。公司對於未來在國 內將會從事的物業開發行業，所帶來的收入及盈 利感到非常樂觀。 本人亦高興得悉本公司獲摩根士丹利資本國際有 限公司（「MSCI 」）納入MSCI香港小型股指數成份 股，自二零一七年五月三十一日收市起生效。 * For identification purpose only Chairman’s Statement 主席報告 In the future, the Group will continue to explore more investment opportunities, especially in medical new technology, new energy, urban renewal and infrastructure. Finally, I would like to take this opportunity to express my gratitude and also my sincere thanks to all stakeholders who had made valuable contributions to the Group this year. They include our loyal Shareholders, fellow directors of the Company (the “Directors”), our business partners, our steadfast customers, and those hardworking and dedicated staff who have longed been supporting us. Reward Others While Enriching Ourselves, Thus Enlightening Dingyi! Li Kwong Yuk Chairman 在未來，本集團將繼續探索更多投資機會，重點產 業放在醫療新科技、新能源、城市更新與基礎建設 等領域上。 最後，本人謹藉此機會感謝為本集團於本年度做 出寶貴貢獻之所有人士，包括一直支持本集團之 股東、本公司之董事（「董事」）、業務夥伴、長期客 戶以及努力不懈懇於奉獻的員工，致以最衷心的 謝意。 成人道己，智慧鼎億！ 主席 李光煜 Management Discussion and Analysis 管理層討論及分析 鼎億集團投資有限公司 二零一七年年報 9 業務回顧 本集團於回顧年度之持續經營業務收入為約港幣 5,400萬元，較去年增加港幣1,300萬元。本公司 之擁有人應佔年度虧損為約港幣4.70億元（二零 一六年：港幣5.11億元），包括衍生金融負債之公 允值虧損約港幣2.79億元（二零一六年：港幣2.13 億元）、持作買賣投資之公允值變動產生之虧損約 港幣4,000萬元（二零一六年：1.71億元）及以股份 為基礎支付開支約港幣1.63億元（二零一六年：港 幣1.11億元）。 每股基本及攤薄虧損為港幣9.06仙，而去年每股虧 損則為港幣11.54仙。 證券買賣 年內，本集團積極開展證券及期貨合約買賣業務。 本集團大部份持作買賣投資為恒生指數或中國企 業指數或H股項下股份。該等股份大多數為具備 較高成交量及較大市值之中國大型企業（「該等實 體」）之股份。於回顧年度，本集團就出售持作買賣 投資之該等股份獲得已變現收益約港幣2,600萬元 （二零一六年：港幣3,700萬元）。自仍持作買賣投 資之股份公允值變動產生之虧損約港幣4,000萬元 （二零一六年：港幣1.71億元）較去年大幅減少。因 此，於回顧年度，本集團呈報分類收益約港幣600 萬元（二零一六年：分類虧損約港幣1.31億元）。 鑑於年內之已變現收益及分類收益，本集團於買 賣投資方面具有良好表現。本集團認為仍持作買 賣投資之股份之前景穩健。於年末錄得未變現虧 損乃由於市場波動而非該等實體之基本因素存在 任何問題所致。董事會知悉，投資之表現可能受香 港股票市場波動之程度影響並受限於可能影響其 價值之其他外部因素。因此，本集團將繼續維持不 同市場分類之多元化投資組合，以盡量降低可能 之財務風險。此外，董事會將不時密切監察投資組 合之表現進展。 BUSINESS REVIEW The Group’s revenue from its continuing operations during the year under review amounted to approximately HK$54 million or HK$13 million more than that during the previous year. There was a loss for the year attributable to the Company’s owners of approximately HK$470 million (2016: HK$511 million) which included a fair value loss on derivative financial liabilities amounted to approximately HK$279 million (2016: HK$213 million), loss arising from changes in fair value of held for trading investments amounted to approximately HK$40 million (2016: HK$171 million) and the share-based payment expenses of approximately HK$163 million (2016: HK$111 million). The basic and diluted loss per share was HK9.06 cents, as compared with loss per share of HK11.54 cents last year. SECURITIES TRADING During the year, the Group has actively involved in the securities and futures contracts trading business. The majority of the Group’s held for trading investments are those shares under Hang Seng Index or China Enterprises Index or H shares. Most of these shares are of China large corporations (“Entities”) with high trading volumes and large market capitalization. The Group had achieved realised gain on the disposal of these shares held for trading investments amounting to approximately HK$26 million (2016: HK$37 million) during the year under review. The loss of approximately HK$40 million (2016: HK$171 million) arising from changes in the fair value of the shares still held for trading investments was greatly reduced as compared with that of last year. As a result, the Group reported a segment gain of approximately HK$6 million (2016: segment loss of approximately HK$131 million) during the year under review. Given the realised gain and segment gain during the year, the Group had shown a good performance in the trading investments. The Group considers that the prospects in respect of the shares still held for trading investments are healthy. The unrealised loss as recorded at the year end was due to market fluctuation rather than any problem with the Entities’ fundamentals. The Board understands that the performance of the investments may be affected by the degree of volatility in the Hong Kong stock market and subject to other external factors that may affect their values. Accordingly, the Group will continue to maintain a diversified portfolio of investment of different segments of markets to minimize the possible financial risks. Also, the Board will monitor the performance progress of the investment portfolio closely from time to time. Management Discussion and Analysis 管理層討論及分析 DINGYI GROUP INVESTMENT LIMITED ANNUAL REPORT 2017 10 於二零一七年及二零一六年三月三十一日，本集 團之持作買賣投資指如下各項： As at 31 March 2017 and 2016, the Group’s held for trading investments were represented as follows: Company Name/Stock Code % of shareholding as at 31 March 2017 Fair value gain (loss) for the year ended 31 March 2017 Fair value as at 31 March 2017 % of total assets of the Group as at 31 March 2017 % of shareholding as at 31 March 2016 Fair value as at 31 March 2016 % of total assets of the Group as at 31 March 2016 公司名稱╱股份代號 於二零一七年 三月三十一日 佔股權百分比 截至 二零一七年 三月三十一日 止年度之 公允值收益 （虧損） 於二零一七年 三月三十一日 之公允值 於二零一七年 三月三十一日 佔本集團總 資產之百分比 於二零一六年 三月三十一日 佔股權百分比 於二零一六年 三月三十一日 之公允值 於二零一六年 三月三十一日 佔本集團總 資產之百分比 HK$’000 HK$’000 HK$’000 港幣千元 港幣千元 港幣千元 Securities listed in Hong Kong 香港上市證券 China Reinsurance (Group) Corporation (1508) (note (a)) 中國再保險（集團）股份 有限公司(1508) （附註(a)） 1.145% (22,171) 136,845 12.13% 1.145% 159,015 14.70% COFCO Meat Holdings Ltd. (1610) (note (b)) 中糧肉食控股有限公司 (1610) （附註(b)） 0.897% (4,905) 65,800 5.83% – – – CITIC Securities Company Limited (6030) (note (c)) 中信證券股份有限公司 (6030) （附註(c)） 0.087% (4,325) 31,745 2.82% 0.190% 78,602 7.26% China Galaxy Securities Co., Ltd. (6881) (note (d)) 中國銀河證券股份有限公司 (6881) （附註(d)） 0.098% (1,371) 25,862 2.29% 0.235% 65,466 6.05% China Eastern Airlines Corporation Limited (670) (note (e)) 中國東方航空股份有限公司 (670) （附註(e)） 0.113% 1,315 24,196 2.14% 0.218% 44,240 4.09% Superb Summit International Group Limited (1228) (note (f)) 奇峰國際集團有限公司 (1228) （附註(f)） 1.270% (8,250) 18,629 1.65% 1.270% 26,879 2.48% China Southern Airlines Company Limited (1055) (note (g)) 中國南方航空股份有限公司 (1055) （附註(g)） 0.079% 1,078 11,836 1.05% – – – Quam Limited (952) (note (h)) 華富國際控股有限公司 (952) （附註(h)） 0.501% 1,363 8,706 0.77% 0.818% 11,989 1.11% China Construction Bank Corporation (939) (note (i)) 中國建設銀行股份有限公司 (939) （附註(i)） 0.001% 96 462 0.04% 0.014% 166,191 15.36% Industrial and Commercial Bank of China Limited (1398) 中國工商銀行股份有限公司 (1398) – – – – 0.007% 26,040 2.41% Bank of China Ltd (3988) 中國銀行股份有限公司 (3988) – – – – 0.005% 12,880 1.19% Others (note (j)) 其他 （附註(j)） (2,581) 28,462 2.53% 38,608 3.57% (39,751) 352,543 31.25% 629,910 58.22% Management Discussion and Analysis 管理層討論及分析 附註： (a) 該公司及其附屬公司主要經營財產再保險、人身再保 險、財產險直保、資產管理及其他業務。誠如該公司 截至二零一六年十二月三十一日止年度之年報所披 露，其截至二零一六年十二月三十一日止年度錄得母 公司權益股東應佔經審核純利為人民幣52億元。關於 該公司之未來前景，董事注意到，該公司及其附屬公 司將在嚴格控制風險及穩定業務盈利能力情況下加 快其發展及擴展其規模，並將堅持「一三五」策略，加 速優化業務佈局、積極培育新增長機會，繼續擴大服 務經濟及社會發展及社保範圍。 (b) 該公司及其附屬公司的主要業務為投資控股、生豬養 殖、畜禽屠宰、家禽飼養、銷售鮮肉及冷凍肉、製造 及銷售肉類產品以及肉類產品進口。誠如該公司截至 二零一六年十二月三十一日止年度之年報所披露， 其截至二零一六年十二月三十一日止年度錄得持續 及已終止經營業務之擁有人應佔經審核純利為人民 幣952,000,000元。關於該公司之未來前景，董事注意 到，該公司董事會有信心繼續創造驕人業績，建立全 國性品牌，成為中國肉類行業示範。 (c) 該公司及其附屬公司的主要經營業務為證券及期貨 經紀業務；證券投資基金代銷和為期貨公司提供中間 介紹業務；代銷金融產品；證券承銷與保薦業務；投 資諮詢和顧問服務；證券自營業務；資產管理和基金 管理；融資融券業務；及股票期權做市業務。誠如該 公司截至二零一六年十二月三十一日止年度之年報 所披露，其截至二零一六年十二月三十一日止年度錄 得母公司擁有人應佔純利為人民幣104億元。關於該 公司之未來前景，董事注意到，該公司將加強黨的建 設工作、做大客戶市場規模，鞏固與提升市場地位、 提高交易能力與投資能力、提升綜合服務能力、深入 推進境內外一體化建設、切實提升管理水平。 Notes: (a) The company and its subsidiaries are mainly engaged in property and casualty reinsurance, life and health reinsurance, primary property and casualty insurance, asset management and other businesses. As disclosed in the annual report of the company for the year ended 31 December 2016, it recorded an audited net profit attributable to equity shareholders of the parent of RMB5.2 billion for the year ended 31 December 2016. With regards to the future prospects of the company, the Directors noted that the company and its subsidiaries will speed up its development and expand its scale on the basis of strict risk control and stable business profitability and will adhere to the “One-Three-Five” strategy, accelerate optimization of business layout, actively nurture new growth opportunities, continue to expand the scopes of serving economic and social development and social securities. (b) The principal activities of the company and its subsidiaries are investment holding, hog production, livestock slaughtering, poultry husbandry, sales of fresh and frozen meats, manufacture and sales of meat products, and import of meat products. As disclosed in the annual report of the company for the year ended 31 December 2016, it recorded an audited net profit attributable to its owners from continuing and discontinued operations of RMB952 million for the year ended 31 December 2016. With regards to the future prospects of the company, the Directors noted that the board of directors of the company is confident to continue to create impressive performance, establish a national renowned brand and become a role model in China’s meat industry. (c) The company and its subsidiaries were involved in securities and futures brokerage; securities investment fund distribution and introducing brokerage business for futures companies; agency sale of financial products; securities underwriting and sponsorship; investment advisory and consultancy services; proprietary securities activities; asset management and fund management; margin financing and securities lending; and stock option market-making. As disclosed in the annual report of the company for the year ended 31 December 2016, it recorded an audited net profit attributable to its owners of the parent of RMB10.4 billion for the year ended 31 December 2016. With regards to the future prospects of the company, the Directors noted that the company will strengthen the development of its communist party committee, enlarge its client market, reinforce and enhance its market position, enhance its trading and investment capabilities, raise capabilities in integrated services, further promote domestic and foreign integration and interaction as well as firmly improve management. (d) 該公司及其附屬公司主要從事證券期貨經紀、機構銷 售及投資研究、證券自營及其他證券交易服務、融資 融券、資產管理及財富管理、股權投資管理。誠如該 公司截至二零一六年十二月三十一日止年度之年報 所披露，其截至二零一六年十二月三十一日止年度錄 得擁有人應佔經審核純利為人民幣52億元。關於該公 司之未來前景，董事注意到，該公司將抓住當前證券 行業難得的機遇期，積極應對激烈的競爭形勢，適應 經濟新常態和證券市場發展的新趨勢，以A股上市為 基礎，以內部機制改革為保障，協同發展大經紀、大 投行、大資管、大投資、互聯網和海外並購業務，提升 公司服務國家戰略和實體經濟的能力。 (e) 該公司及其附屬公司主要經營民航業務，包括客運、 貨運、郵運、旅遊服務及其他延伸的航空業務。誠如 該公司截至二零一六年十二月三十一日止年度之年報 所披露，其截至二零一六年十二月三十一日止年度錄 得權益持有人應佔經審核純利為人民幣44.98億元。 關於該公司之未來前景，董事注意到，該公司及其附 屬公司將把握「一帶一路」、供給側結構性改革等國 家戰略的穩步推進、旅遊消費需求上升、民航價格市 場化以及上海樞紐優勢等有利契機，重點做好以下工 作，力爭取得良好的經營業績。 (f) 該公司及其附屬公司主要於中國從事開發及管理林 木資源及銷售煤炭產品及其他大宗商品。誠如該公司 截至二零一五年六月三十日止六個月之未經審核中 期報告所披露，其截至二零一五年六月三十日止六個 月錄得擁有人應佔未經審核虧損淨額為港幣5,680萬 元。關於該公司之未來前景，董事注意到，該公司管 理層將繼續重點發展和推進能源類產品與業務的發 展計劃。該公司股份已自二零一五年十二月十五日上 午九時正起暫停買賣。 (d) The company and its subsidiaries are principally engaged in securities and futures brokerage, institutional sales and investment research, proprietary trading and other securities trading services, margin financing and securities lending, asset management and wealth management, equity investment management. As disclosed in the annual report of the company for the year ended 31 December 2016, it recorded an audited net profit attributable to its owners of RMB5.2 billion for the year ended 31 December 2016. With regards to the future prospects of the company, the Directors noted that the company will grasp the currently rare opportunities in the securities industry and actively respond to the fierce competition to adapt to the new normal in economic growth and the new trend in the development of the securities market. It will promote the coordinated development of big brokerage, big investment banking, big asset management, big investment, Internet and overseas M&As businesses based on the listing of A Shares with the reform of the internal mechanisms as the guarantee to improve the capacities of the company in serving national strategies and real economies. (e) The company and its subsidiaries are principally engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery, tour operations and other extended transportation services. As disclosed in the annual report of the company for the year ended 31 December 2016, it recorded an audited net profit attributable to its equity holders of RMB4,498 million for the year ended 31 December 2016. With regards to the future prospects of the company, the Directors noted that the company and its subsidiaries will seize the opportunities arising from the steady implementation of national strategies such as “One Belt One Road” and supply-side structural reforms, the rising tourism and consumption demand, the market-oriented pricing in civil aviation and the advantages of Shanghai as a hub, and focus on the seven areas in order to achieve better operating results. (f) The company and its subsidiaries are principally engaged in the exploitation and management of timber resources and sales of coal products and other bulk commodities in the PRC. As disclosed in the unaudited interim report of the company for the six months ended 30 June 2015, it recorded an unaudited net loss attributable to its owners of HK$56.8 million for the six months ended 30 June 2015. With regards to the future prospects of the company, the Directors noted that the management of the company will continue to focus on the implementation of development plans for energy resource products and business. Trading of shares of the company has been suspended since 9:00 a.m. on 15 December 2015. (g) 該公司及其附屬公司主要經營民航業務，包括客運、 貨運、郵運以及其他延伸運輸服務。誠如該公司截至 二零一六年十二月三十一日止年度之年報所披露，其 截至二零一六年十二月三十一日止年度錄得權益股 東應佔經審核純利為人民幣50.44億元。關於該公司 之業務規劃，董事注意到，該公司將重點做好（i ）持 續提升安全管理水平；（ii ）結合市場環境，持續優化 機隊結構；（iii ）堅持真情服務，打造一流國際服務品 牌；（iv ）加快適應新變化，持續提高運行保障能力； （v ）大力加強樞紐建設，持續擴大轉型成效；（vi ）加 快建設「南航e行」，夯實比較競爭優勢；及（vii ）充分 發揮財務管理的重要作用，著力控制成本。 (h) 該公司及其附屬公司主要從事證券、期貨及期權之全 權委託及非全權委託交易服務、證券配售服務及包銷 服務、保證金融資及借貸服務、保險經紀及財富管理 服務；企業融資顧問及一般顧問服務；基金管理、全 權委託組合管理及組合管理顧問服務；投資者關係、 網上廣告及金融資訊服務；投資控股及證券買賣。誠 如該公司截至二零一七年三月三十一日止年度之全 年業績公佈所披露，其於截至二零一七年三月三十一 日止年度錄得該公司擁有人應佔經審核虧損淨額為 港幣5,790萬元。關於該公司之未來前景，董事注意 到，該公司擬於尋求新資金的同時拓展至涵蓋一般要 約、大宗交易及自身產品之結構性融資。該公司預期 透過於香港及國際市場提供援助擬（包括併購）與泛 海控股股份有限公司及其附屬公司以及彼等之客戶 群發展緊密關係。 (i) 該銀行及其附屬公司的主要業務範圍包括提供公司 和個人銀行業務服務、資金業務，並提供資產管理、 信託、金融租賃、投資銀行、保險及其他金融服務。 誠如該銀行截至二零一六年十二月三十一日止年度 之年報所披露，其截至二零一六年十二月三十一日止 年度錄得權益股東應佔經審核純利為人民幣2,315億 元。關於該銀行之未來前景，董事注意到，該銀行將 準確把握宏觀大勢，聚焦服務實體經濟和供給側結構 性改革，不斷厚植發展基礎，持續釋放轉型紅利，努 力為股東、客戶創造良好的回報。 (j) 於二零一七年三月三十一日，該等投資中概無佔本集 團總資產之1%以上者。 (g) The company and its subsidiaries are principally engaged in the operation of civil aviation, including the provision of passenger, cargo, mail delivery and other extended transportation services. As disclosed in the annual report of the company for the year ended 31 December 2016, it recorded an audited net profit attributable to its equity shareholders of RMB5,044 million for the year ended 31 December 2016. With regards to the business plan of the company, the Directors noted that the company will focus on (i) continuously improve the level of safety management; (ii) continuously optimize the fleet structure based on the market environment; (iii) create a first-class international service brand with sincere service; (iv) accelerate adaptation to new changes and further raise the capability in operation assurance; (v) vigorously strengthen the hub construction and continuously expand the effectiveness of transition; (vi) expedite the construction of the “China Southern e-Travel” and consolidate the competitive advantages; and (vii) fully utilize the important functions of financial management, and focus on cost control. (h) The company and its subsidiaries are principally engaged in discretionary and non-discretionary dealing services for securities, futures and options, securities placing and underwriting services, margin financing and money lending services, insurance broking and wealth management services; corporate finance advisory and general advisory services; fund management, discretionary portfolio management and portfolio management advisory services; investor relation, online advertising and financial information services; and investment holding and securities trading. As disclosed in the annual results announcement of the company for the year ended 31 March 2017, it recorded an audited net loss attributable to owners of the company of HK$57.9 million for the year ended 31 March 2017. With regards to the future prospects of the company, the Directors noted that the company intended to expand its reach into structured financing covering both general offers, block trades and in house products while seeding new funds. The company expects to develop closer relationships with Oceanwide Holdings Co., Ltd. and its subsidiaries and its client base by offering assistance in Hong Kong and the international market involving mergers and acquisitions. (i) The principal activities of the bank and its subsidiaries are the provision of corporate and personal banking services, conducting treasury business, the provision of asset management, trustee, finance leasing, investment banking, insurance and other financial services. As disclosed in the annual report of the bank for the year ended 31 December 2016, it recorded an audited net profit attributable to its equity shareholders of RMB231.5 billion for the year ended 31 December 2016. With regards to the future prospects of the bank, the Directors noted that the bank will focus on the real economy service and supply-side structural reform with right insight on the macro trend, constantly consolidate the foundation for further development and deliver transformation bonus so as to bring good returns to its shareholders and customers. (j) None of these investments represented more than 1% of the total assets of the Group as at 31 March 2017. 貸款融資 於本年度內，本集團錄得收入港幣2,800萬元（二 零一六年：港幣2,500萬元）及分類利潤港幣2,700 萬元（二零一六年：港幣2,400萬元）。本集團將進 一步發展此分類以賺取更高利息收入。 融資租賃 於本年度內，本集團已自融資租賃業務錄得利息 收入港幣200萬元（二零一六年：港幣400萬元）及 分類溢利港幣200萬元（二零一六年：港幣400萬 元）。 餐飲 餐飲分類於回顧年度產生收入港幣400萬元（二零 一六年：港幣800萬元）。於本年度內，該分類呈報 之虧損為港幣100萬元（二零一六年：港幣100萬 元），乃因營業額減少及毛利率增加所致。該溢利 及虧損來自於二零一四年一月一日收購之中國北 京餐館。 酒類買賣 本集團已保存一定數量之優質酒。該等存貨將於 市價高時賣出，以令本集團可獲得理想之貿易回 報。現時，該等存貨存置於香港之酒窖。 投資KORE之股份 Kore Potash Limited（「Kore」）（前稱「Elemental Minerals Limited」）是一間於澳大利亞證券交易所 上市之礦物勘探及發展公司。其現正於剛果共和 國發展Sintoukola鉀鹽項目。 於本年報日期，本集團持有合共75,141,924股Kore 股份，相當於Kore全部已發行股本之約9.78%。 LOAN FINANCING During the year, the Group recorded a revenue of HK$28 million (2016: HK$25 million) and the segment profit was HK$27 million (2016: HK$24 million). The Group will further develop in this segment in order to earn a higher interest income. FINANCIAL LEASING During the year, the Group has recorded HK$2 million (2016: HK$4 million) of interest income and HK$2 million (2016: HK$4 million) of segment profit from financial leasing business. FOOD AND BEVERAGES The food and beverages segment generated a revenue of HK$4 million during the year under review (2016: HK$8 million). The segment reported a loss of HK$1 million (2016: HK$1 million) for the current year due to the decrease in turnover and the increase in gross margin. The profit and loss were contributed by the restaurant in Beijing, PRC which was acquired on 1 January 2014. TRADING OF WINE The Group has kept certain quantities of fine wines. The stocks will be offered to sell when the market prices are favorable such that the Group can obtain a good return on the trading. At present, the stocks are kept in the wine cellar situated in Hong Kong. INVESTMENT IN SHARES IN KORE Kore Potash Limited (“Kore”) (formerly known as “Elemental Minerals Limited”) is a mineral exploration and development company listed on the Australian Stock Exchange. It is currently developing the Sintoukola potash project located in the Republic of Congo. As at the date of this annual report, the Group holds an aggregate of 75,141,924 shares of Kore, representing approximately 9.78% of the entire issued share capital of Kore. 資本架構 於二零一七年三月三十一日，本公司之已發行股份 總數為5,397,638,952股（二零一六年三月三十一 日：4,977,281,528股）每股面值港幣0.01元之股 份（「股份」）及其已發行股本為港幣53,976,390元 （二零一六年三月三十一日：港幣49,772,815元）。 於本年度內，本公司資本架構之變動詳情載列如 下： (i) 於二零一六年五月十九日，合共8,430,000份 購股權已按每股港幣0.375元之行使價獲行 使及該等8,430,000股股份已於二零一六年 五月二十日獲配發及發行； (ii) 於二零一六年五月十六日，合共10,000,000 份購股權已按每股港幣0.375元之行使價獲 行使及該等10,000,000股股份已於二零一六 年五月二十三日獲配發及發行； (iii) 於二零一六年六月八日，合共72,100,000股 購回股份被註銷； (iv) 於二零一六年七月六日，永冠資本投資有 限 公 司 行 使 可 換 股 債 券 附 帶 之 權 利 以 按 每 股 轉 換 股 份 港 幣0.33元 之 轉 換 價 認 購 424,242,424股股份及該等424,242,424股股 份已於同日獲配發及發行； (v) 於二零一六年七月八日，合共1,660,000份購 股權已按每股港幣0.375元之行使價獲行使 及該等1,660,000股股份已於二零一六年七 月十一日獲配發及發行； (vi) 於二零一六年七月二十六日，合共1,875,000 份購股權已按每股港幣0.375元之行使價獲 行使及該等1,875,000股股份已於二零一六 年七月二十九日獲配發及發行； (vii) 於二零一七年一月十二日，合共2,375,000份 購股權已按每股港幣0.375元之行使價獲行 使及該等2,375,000股股份已於二零一七年 一月十八日獲配發及發行； CAPITAL STRUCTURE As at 31 March 2017, the total number of issued shares of the Company was 5,397,638,952 (31 March 2016: 4,977,281,528) of HK$0.01 each (the “Shares”) and its issued share capital was HK$53,976,390 (31 March 2016: HK$49,772,815). During the year, the details of changes of the capital structure of the Company were set out below: (i) On 19 May 2016, a total of 8,430,000 share options were exercised at an exercise price of HK$0.375 per Share and these 8,430,000 Shares were allotted and issued on 20 May 2016; (ii) On 16 May 2016, a total of 10,000,000 share options were exercised at an exercise price of HK$0.375 per Share and these 10,000,000 Shares were allotted and issued on 23 May 2016; (iii) On 8 June 2016, a total of 72,100,000 repurchased Shares were cancelled; (iv) On 6 July 2016, Wincon Capital Investment Limited exercised the rights attaching to the convertible bonds to subscribe 424,242,424 Shares at conversion price of HK$0.33 per conversion share and these 424,242,424 Shares were allotted and issued on the same date; (v) On 8 July 2016, a total of 1,660,000 share options were exercised at an exercise price of HK$0.375 per Share and these 1,660,000 Shares were allotted and issued on 11 July 2016; (vi) On 26 July 2016, a total of 1,875,000 share options were exercised at an exercise price of HK$0.375 per Share and these 1,875,000 Shares were allotted and issued on 29 July 2016; (vii) On 12 January 2017, a total of 2,375,000 share options were exercised at an exercise price of HK$0.375 per Share and these 2,375,000 Shares were allotted and issued on 18 January 2017; (viii) 於二零一七年一月十五日，合共2,375,000份 購股權已按每股港幣0.375元之行使價獲行 使及該等2,375,000股股份已於二零一七年 一月十八日獲配發及發行； (ix) 於二零一七年三月十五日，合共1,200,000份 購股權已按每股港幣0.375元之行使價獲行 使及該等1,200,000股股份已於二零一七年 三月二十一日獲配發及發行； (x) 於二零一七年三月三十日，合共41,500,000 份購股權已按每股港幣0.477元之行使價獲 （未完）  |