[HK]明輝國際:中期報告2020

2020-12-11 中國財經信息網

[HK]明輝國際:中期報告2020

時間：2020年09月17日 17:31:02&nbsp中財網

原標題:明輝國際:中期報告2020

CONTENTS

Corporate Information

公司資料

Highlights for the six months ended 30 June 2020

截至二零二零年六月三十日止六個月之摘要

Management Discussion and Analysis

管理層討論及分析

Corporate Governance and Other Information

企業管治及其他資料

Interim Condensed Consolidated Balance Sheet

中期簡明綜合資產負債表

Interim Condensed Consolidated Statement

of Comprehensive Income

中期簡明綜合全面收益表

Interim Condensed Consolidated Statement

of Changes in Equity

中期簡明綜合權益變動表

Interim Condensed Consolidated Statement

of Cash Flows

中期簡明綜合現金流量表

Notes to the Condensed Consolidated

Interim Financial Information

簡明綜合中期財務資料附註

BOARD OF DIRECTORS

Executive Directors:

Mr. CHING Chi Fai (Chairman)

Mr. CHING Chi Keung

Mr. LIU Zigang

Mr. CHING Tsun Wah

Mr. KEUNG Kwok Hung

Non-Executive Director:

Ms. CHAN Yim Ching

Independent Non-Executive Directors:

Mr. HUNG Kam Hung Allan

Mr. MA Chun Fung Horace

Mr. NG Bo Kwong

Mr. SUN Eric Yung Tson

AUDIT COMMITTEE

Mr. MA Chun Fung Horace (Chairman)

Mr. HUNG Kam Hung Allan

Mr. NG Bo Kwong

Mr. SUN Eric Yung Tson

NOMINATION COMMITTEE

Mr. CHING Chi Fai (Chairman)

Mr. MA Chun Fung Horace

Mr. SUN Eric Yung Tson

REMUNERATION COMMITTEE

Mr. HUNG Kam Hung Allan (Chairman)

Mr. CHING Chi Fai

Mr. MA Chun Fung Horace

Mr. NG Bo Kwong

Mr. SUN Eric Yung Tson

EXECUTIVE COMMITTEE

Mr. CHING Chi Fai (Chairman)

Mr. CHING Chi Keung

Mr. LIU Zigang

Mr. CHING Tsun Wah

Mr. KEUNG Kwok Hung

INVESTMENT COMMITTEE

Mr. CHING Chi Fai (Chairman)

Mr. MA Chun Fung Horace

Mr. KEUNG Kwok Hung

CHIEF FINANCIAL OFFICER AND

COMPANY SECRETARY

Mr. KEUNG Kwok Hung CPA

PRINCIPAL BANKERS

Bank of China (Hong Kong) Limited

The Hongkong and Shanghai Banking

Corporation Limited

Hang Seng Bank Limited

DBS Bank (Hong Kong) Limited

董事會

執行董事：

程志輝先生（主席）

程志強先生

劉子剛先生

程俊華先生

姜國雄先生

非執行董事：

陳艷清女士

獨立非執行董事：

孔錦洪先生

馬振峰先生

吳保光先生

孫榮聰先生

審核委員會

馬振峰先生（主席）

孔錦洪先生

吳保光先生

孫榮聰先生

提名委員會

程志輝先生（主席）

馬振峰先生

孫榮聰先生

薪酬委員會

孔錦洪先生（主席）

程志輝先生

馬振峰先生

吳保光先生

孫榮聰先生

執行委員會

程志輝先生（主席）

程志強先生

劉子剛先生

程俊華先生

姜國雄先生

投資委員會

程志輝先生（主席）

馬振峰先生

姜國雄先生

首席財務官兼公司秘書

姜國雄先生會計師

主要往來銀行

中國銀行（香港）有限公司

香港上海滙豐銀行有限公司

恒生銀行有限公司

星展銀行（香港）有限公司

AUDITOR

PricewaterhouseCoopers

Certified Public Accountants

Registered Public Interest Entity Auditor

22/F, Prince’s Building

Central

Hong Kong

PRINCIPAL SHARE REGISTRAR AND

TRANSFER OFFICE IN THE CAYMAN ISLANDS

Suntera (Cayman) Limited

Royal Bank House – 3rd Floor

24 Shedden Road, P.O. Box 1586

Grand Cayman KY1-1110

Cayman Islands

BRANCH SHARE REGISTRAR IN

THE HONG KONG SPECIAL ADMINISTRATIVE

REGION OF THE PEOPLE』S REPUBLIC OF CHINA

(THE 「PRC」)(「HONG KONG」)

Computershare Hong Kong Investor Services Limited

Investors』 enquiries:

17M Floor

Hopewell Centre

183 Queen’s Road East, Wanchai

Hong Kong

Transfer of shares:

Shops 1712–1716, 17th Floor

Hopewell Centre

183 Queen’s Road East, Wanchai

Hong Kong

REGISTERED OFFICE

P.O. Box 309GT

Ugland House

South Church Street

George Town, Grand Cayman

Cayman Islands

HEAD OFFICE AND PRINCIPAL PLACE

OF BUSINESS IN HONG KONG

Unit D3, 8/F, TML Tower

No. 3 Hoi Shing Road

Tsuen Wan, New Territories

Hong Kong

PRINCIPAL PLACE OF BUSINESS IN THE PRC

Bainikeng, Pinghu, Longgang

Shenzhen, the PRC

WEBSITE

www.mingfaigroup.com

STOCK CODE

03828

核數師

羅兵鹹永道會計師事務所

執業會計師

註冊公眾利益實體核數師

香港

中環

太子大廈二十二樓

開曼群島主要股份過戶登記處

Suntera (Cayman) Limited

Royal Bank House – 3rd Floor

24 Shedden Road, P.O. Box 1586

Grand Cayman KY1-1110

Cayman Islands

中華人民共和國（「中國」）香港

特別行政區（「香港」）股份過戶

登記分處

香港中央證券登記有限公司

投資者諮詢：

香港

灣仔皇后大道東183號

合和中心

17M樓

股份過戶：

香港

灣仔皇后大道東183號

合和中心

17樓1712–1716號舖

註冊辦事處

P.O. Box 309GT

Ugland House

South Church Street

George Town, Grand Cayman

Cayman Islands

總辦事處及香港主要營業地點

香港

新界荃灣

海盛路3號

TML廣場8樓D3室

中國主要營業地點

中國深圳市

龍崗區平湖白坭坑

網址

www.mingfaigroup.com

股份代號

03828

. 收入減少27.3%至約692.1百萬港元（截

至二零一九年六月三十日止六個月：約

951.9百萬港元）。

. 毛利減少10.3%至約192.6百萬港元（截

至二零一九年六月三十日止六個月：約

214.7百萬港元）。

. 毛利率上升5.2個百分點至27.8%（截

至二零一九年六月三十日止六個月：

22.6%）。

. 經營溢利約63.0百萬港元（截至二零

一九年六月三十日止六個月：約51.3

百萬港元）及本公司擁有人應佔溢利

約47.2百萬港元（截至二零一九年六月

三十日止六個月：約37.5百萬港元）。

. 宣派截至二零二零年六月三十日止六個

月之中期股息為每股本公司股份（「股

份」）1.0港仙（截至二零一九年六月三十

日止六個月：每股1.5港仙）。

. Revenue decreased 27.3% to approximately HK$692.1 million

(for the six months ended 30 June 2019: approximately

HK$951.9 million).

. Gross profit decreased 10.3% to approximately HK$192.6

million (for the six months ended 30 June 2019: approximately

HK$214.7 million).

. Gross profit margin increased 5.2 percentage points to 27.8%

(for the six months ended 30 June 2019: 22.6%).

. Operating profit is approximately HK$63.0 million (for the six

months ended 30 June 2019: approximately HK$51.3 million)

and the profit attributable to owners of the Company is

approximately HK$47.2 million (for the six months ended 30

June 2019: approximately HK$37.5 million).

. An interim dividend for the six months ended 30 June 2020 of

HK1.0 cent per share of the Company (the 「Share」) (for the six

months ended 30 June 2019: HK1.5 cents per Share) was

declared.

明輝國際控股有限公司（「本公司」）之董事

會（「董事會」）欣然宣佈本公司及其附屬公司

（「本集團」）截至二零二零年六月三十日止六

個月之未經審核簡明綜合中期業績。

財務回顧

主要財務摘要

以下載列本集團之未經審核中期簡明綜合主

要財務摘要：

收入

截至二零二零年六月三十日止六個月，本集

團的總收入錄得約692.1百萬港元，較去年

同期之約951.9百萬港元減少27.3%。截至

二零二零年六月三十日止六個月，酒店供應

品業務、營運用品及設備（「營運用品及設

備」）業務與健康護理及衛生用品業務的收

入分別約390.9百萬港元、47.0百萬港元及

254.2百萬港元（截至二零一九年六月三十日

止六個月：約817.1百萬港元、69.2百萬港元

及65.5百萬港元），分別佔本集團總收入的

56.5%、6.8%及36.7%（截至二零一九年六

月三十日止六個月：85.8%、7.3%及6.9%)。

毛利及毛利率

本集團截至二零二零年六月三十日止六個

月的毛利較去年同期約214.7百萬港元減少

10.3%至約192.6百萬港元。受惠於產品組

合變更及實施成本控制政策，毛利率較去年

同期之22.6%增加5.2個百分點至27.8%。

The Board of Directors (the 「Board」) of Ming Fai International

Holdings Limited (the 「Company」) is pleased to announce the

unaudited condensed consolidated interim results of the Company

and its subsidiaries (the 「Group」) for the six months ended 30 June

2020.

FINANCIAL REVIEW

Key Financial Highlights

Set out below are the unaudited interim condensed consolidated key

financial highlights of the Group:

Six months ended 30 June

截至六月三十日止六個月

2020

2019

Change

二零二零年

二零一九年

變動

HK$ million

百萬港元

Revenue

收入

692.1

951.9

(27.3)%

Gross Profit

毛利

192.6

214.7

(10.3)%

Profit attributable to owners of the

Company

本公司擁有人

應佔溢利

47.2

37.5

26.0%

Basic earnings per Share attributable to

owners of the Company (HK cents)

本公司擁有人應佔每股

基本盈利（港仙）

6.5

5.2

25.0%

Diluted earnings per Share attributable to

owners of the Company (HK cents)

本公司擁有人應佔每股

攤薄盈利（港仙）

6.5

5.1

27.5%

Dividend per Share (HK cents)

每股股息（港仙）

1.0

1.5

(33.3)%

Revenue

For the six months ended 30 June 2020, the total revenue of the

Group recorded a decrease of 27.3% to approximately HK$692.1

million compared with approximately HK$951.9 million in the

corresponding period of prior year. For the six months ended 30 June

2020, the revenue of the hospitality supplies business, operating

supplies and equipment (「OS&E」) business and health care and

hygienic products business were approximately HK$390.9 million,

HK$47.0 million and HK$254.2 million (for the six months ended 30

June 2019: approximately HK$817.1 million, HK$69.2 million and

HK$65.5 million) respectively, which represented 56.5%, 6.8% and

36.7% (for the six months ended 30 June 2019: 85.8%, 7.3% and

6.9%) of the Group’s total revenue respectively.

Gross profit and gross profit margin

The Group’s gross profit for the six months ended 30 June 2020

decreased 10.3% to approximately HK$192.6 million, compared with

approximately HK$214.7 million in the corresponding period of prior

year. Gross profit margin increased 5.2 percentage points to 27.8%

from 22.6% as compared with the corresponding period of prior

year, benefiting from the change of product mix and adopting the

costs control policies.

本公司擁有人應佔溢利

截至二零二零年六月三十日止六個月，本公

司擁有人應佔溢利約47.2百萬港元（截至二

零一九年六月三十日止六個月：約37.5百萬

港元）。

其他收入及成本減免

受惠於包括為舒緩不同地區經濟下行而實施

的多項政府補貼及成本減免政策，本集團截

至二零二零年六月三十日止六個月受益之政

府補貼（包括過往年度攤銷結餘）及成本減

免如下：

此外，於截至二零二零年六月三十日止六個

月內，本集團錄得因解散一間附屬公司之收

益及變現匯兌儲備約8.2百萬港元之一項其

他收入。

每股盈利

截至二零二零年六月三十日止六個月，本公

司擁有人應佔每股基本及攤薄盈利分別為6.5

港仙及6.5港仙（截至二零一九年六月三十日

止六個月：5.2港仙及5.1港仙）。

中期股息

董事會議決就截至二零二零年六月三十日止

六個月宣派中期股息每股1.0港仙（截至二零

一九年六月三十日止六個月：每股1.5港仙）。

流動資金及財務資源

本集團一貫奉行審慎資金管理政策及積極管

理其流動資金狀況，並具備備用銀行融資授

信額度，以應付日常營運和未來發展的潛在

資金需求。

現金及現金等值項目

於二零二零年六月三十日，本集團的現金及

現金等值項目約369.2百萬港元（於二零一九

年十二月三十一日：約348.8百萬港元）。

資產淨值

本集團於二零二零年六月三十日之資產淨

值約1,141.6百萬港元（於二零一九年十二月

三十一日：約1,130.9百萬港元）。

Profit attributable to owners of the Company

Profit attributable to owners of the Company for the six months

ended 30 June 2020 was approximately HK$47.2 million (for the six

months ended 30 June 2019: approximately HK$37.5 million).

Other income and cost reduction

In view of various governmental subsidies and cost reduction policies,

including those to alleviate economic downturn in different regions,

the governmental subsidies comprising of those amortised brought

forward from prior years and cost reductions benefitting to the

Group for the six months ended 30 June 2020 are as follows:

Six months ended

30 June 2020

Region

地區

截至二零二零年

六月三十日止六個月

HK$ million

百萬港元

The PRC

中國

11.7

Hong Kong

香港

0.9

Other regions

其他地區

0.5

Total

合計

13.1

In addition, during the six months ended 30 June 2020, the Group

recorded an item of other income of approximately HK$8.2 million

on the resulting gain and realisation of exchange reserve upon

dissolution of a subsidiary.

Earnings per Share

Basic and diluted earnings per Share attributable to owners of the

Company for the six months ended 30 June 2020 were HK6.5 cents

and HK6.5 cents (for the six months ended 30 June 2019: HK5.2

cents and HK5.1 cents) respectively.

Interim dividend

The Board has resolved to declare an interim dividend of HK1.0 cent

per Share for the six months ended 30 June 2020 (for the six months

ended 30 June 2019: HK1.5 cents per Share).

Liquidity and financial resources

The Group has always pursued a prudent treasury management

policy and actively manages its liquidity position with standby

banking facilities to cope with daily operation and potential capital

demands for future development.

Cash and cash equivalents

As at 30 June 2020, the Group’s cash and cash equivalents amounted

to approximately HK$369.2 million (as at 31 December 2019:

approximately HK$348.8 million).

Net assets

The Group’s net assets as at 30 June 2020 was approximately

HK$1,141.6 million (as at 31 December 2019: approximately

HK$1,130.9 million).

借貸

本集團之借貸結構及到期概況如下：

借貸結構：

Borrowings

The Group’s borrowing structure and maturity profile are as follows:

Borrowing structure:

30 June 2020

31 December 2019

二零二零年六月三十日

二零一九年十二月三十一日

Effective interest rate (%)

HK$ million

Effective interest rate (%)

HK$ million

實際利率(%)

百萬港元

實際利率(%)

百萬港元

Secured bank borrowings

with repayable on

demand clauses

Floating rate of

1.7% per annum over

1-month Hong Kong Inter-bank

Offered Rate (「HIBOR」)

11.0

Floating rate of

1.7% per annum over

1-month HIBOR

14.0

具有按要求償還條款

之有抵押銀行借貸

一個月香港銀行同業拆息率

（「香港銀行同業拆息率」）

加年利率1.7%之浮動利率

一個月香港銀行同業拆息率

加年利率1.7%之浮動利率

Floating rate of the higher of

1.7% per annum over

1-month HIBOR or

the cost to the bank of

funding the borrowing

11.6

Floating rate of the higher of

1.7% per annum over

1-month HIBOR or

the cost to the bank of

funding the borrowing

12.6

一個月香港銀行同業拆息率

加年利率1.7%

或銀行撥付融資成本之較高者

之浮動利率

一個月香港銀行同業拆息率

加年利率1.7%

或銀行撥付融資成本之較高者

之浮動利率

Floating rates ranging from

the higher of 1.5%-1.7%

per annum over 1-month

London Inter-bank

Offered Rate (「LIBOR」)

68.2

Floating rate of

1.7% per annum over

1-month LIBOR

19.1

一個月倫敦銀行同業拆息率

（「倫敦銀行同業拆息率」）

加介乎年利率1.5%至1.7%

之浮動利率

一個月倫敦銀行同業拆息率

加年利率1.7%之浮動利率

Floating rate of the higher of

1.7% per annum over

1-month LIBOR or

the cost to the bank of

funding the borrowing

38.7

Floating rate of the higher of

1.7% per annum over

1-month LIBOR or

the cost to the bank of

funding the borrowing

19.1

一個月倫敦銀行同業拆息率

加年利率1.7%或

銀行撥付融資成本之較高者

之浮動利率

一個月倫敦銀行同業拆息率

加年利率1.7%或

銀行撥付融資成本之較高者

之浮動利率

Secured bank borrowings

without repayable on

demand clauses

Fixed rates ranging from

1.4%-2.4% per annum

1.8

Fixed rates ranging from

1.3%-1.4% per annum

0.7

並無按要求償還條款

之有抵押銀行借貸

介乎年利率1.4%至2.4%

之固定利率

介乎年利率1.3%至1.4%

之固定利率

Secured other borrowing

without repayable on

demand clauses

Fixed rate of 1.38%

per annum

2.0

Fixed rate of 1.16%

per annum

0.9

並無按要求償還條款

之有抵押其他借貸

年利率1.38%之固定利率

年利率1.16%之固定利率

133.3

66.4

到期概況：

在並無計及按要求償還條款的影響下，借貸

的還款期如下：

貨幣計值：

集團資產抵押

除於二零二零年六月三十日之銀行及其他

借貸約3.8百萬港元（於二零一九年十二月

三十一日：約1.6百萬港元）以本集團非控股

權益之個人擔保作抵押外，借貸均以若干物

業、廠房及設備及使用權資產作抵押。

就借貸之已抵押資產之賬面值如下：

Maturity profile:

The repayment terms of the borrowings without taking into account

the effect of repayment on demand clauses are as follows:

30 June

2020

31 December

2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$ million

百萬港元

Within 1 year

於1年內

55.8

17.5

Between 1 and 2 years

1至2年之間

25.4

15.8

Between 2 and 5 years

2至5年之間

50.1

31.2

Over 5 years

5年以上

2.0

1.9

133.3

66.4

Currency denomination:

30 June

2020

31 December

2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$ million

百萬港元

Hong Kong dollars

港元

22.6

26.6

United States dollars (「US$」)

美元（「美元」）

106.9

38.2

Japanese Yen (「JPY」)

日圓（「日圓」）

3.8

1.6

133.3

66.4

Charges on Group assets

Except for bank and other borrowings of approximately HK$3.8

million as at 30 June 2020 (as at 31 December 2019: approximately

HK$1.6 million), which were secured by personal guarantee of a

non-controlling interest of the Group, borrowings were secured by

certain property, plant and equipment and right-of-use assets.

The carrying amounts of assets pledged as security for borrowings

are as follows:

30 June

2020

31 December

2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$ million

百萬港元

Property, plant and equipment

物業、廠房及設備

25.9

27.7

Right-of-use assets

使用權資產

30.6

31.2

56.5

58.9

資產負債比率

於二零二零年六月三十日之資產負債比率為

11.7%，計算基準為借貸除以總權益，而於

二零一九年十二月三十一日之資產負債比率

為5.9%。

外匯風險

本集團面對以人民幣（「人民幣」）為主的各種

外匯風險。本集團目前並無制定外匯對沖政

策。

本集團主要於中國採購其原材料。有關人民

幣之貨幣風險乃透過增加以相同貨幣計值之

收入進行管理。

資本承擔及或然負債

於二零二零年六月三十日之資本承擔詳情載

於簡明綜合中期財務資料附註26。於二零二

零年六月三十日，本集團概無重大或然負債。

業務回顧

新型冠狀病毒的爆發（「COVID-19大流行」）

帶來整個世界經歷一場全球性的健康、社會

及經濟緊急危機，加上長期地緣政治不明朗

因素及中國與美國（「美國」）之緊張局勢升

級，截至二零二零年六月三十日止六個月，

本集團的業務受到此等宏觀經濟逆風的重大

影響。

酒店供應品業務

根據聯合國世界旅遊組織最近公佈，二零二

零年第一季度國際旅客人數下降22%。四月

因復活節假期的緣故預期應為一年中最繁忙

的時期之一，但受普遍性入境限制措施的實

施影響，導致二零二零年四月國際旅客人數

下降97%。此外，世界航運力及酒店入住率

的大幅下降、全球日益嚴格的環保法規及公

眾對環保要求上升、中美貿易戰等因素繼續

為本集團帶來巨大挑戰。

截至二零二零年六月三十日止六個月，本

集團的酒店供應品業務收入減少52.2%至約

390.9百萬港元（截至二零一九年六月三十

日止六個月：約817.1百萬港元），佔本集團

總收入之56.5%（截至二零一九年六月三十

日止六個月：85.8%)。截至二零二零年六月

三十日止六個月，酒店供應品業務的毛利減

少56.5%至約81.5百萬港元（截至二零一九

年六月三十日止六個月：約187.3百萬港元）。

截至二零二零年六月三十日止六個月，此分

類的毛利率較截至二零一九年六月三十日止

六個月的22.9%減少2.1個百分點至20.8%。

Gearing ratio

The gearing ratio as at 30 June 2020, calculated on the basis of

borrowings over total equity, was 11.7% as compared with 5.9% as

at 31 December 2019.

Foreign currency exposure

The Group is exposed to foreign exchange risk arising from various

currency exposures, primarily with respect to Renminbi (「RMB」). The

Group currently does not deploy a foreign currency hedging policy.

The Group primarily sourced its raw materials in the PRC. The related

currency exposure with respect to RMB is managed through

increasing revenue denominated in the same currency.

Capital commitments and contingent liabilities

Details of the capital commitments as at 30 June 2020 is set out in

Note 26 to the condensed consolidated interim financial information.

The Group has no material contingent liabilities as at 30 June 2020.

BUSINESS REVIEW

The outbreak of the novel coronavirus (the 「COVID-19 pandemic」)

brought the whole world undergo a global health, social and

economic emergency, together with the prolonged geopolitical

uncertainties and escalating tensions between China and the United

States of America (「U.S.」), the Group’s businesses were greatly

affected by these macroeconomic headwinds during the six months

ended 30 June 2020.

Hospitality Supplies Business

According to the recent publication by the United Nations World

Tourism Organization, international tourist arrivals decreased 22%

during the first quarter of 2020. While April was expected to be one of

the busiest times of the year due to the Easter holidays, the universal

travel restrictions in place led to a fall of 97% in international tourist

arrivals in April 2020. In addition, the significant decline in world air

capacity and hotel occupancies, increasingly stringent regulations and

public demand for environmental protection worldwide, the China-U.S.

trade war continue to present great challenges to the Group.

Revenue from the Group’s hospitality supplies business for the six

months ended 30 June 2020 decreased 52.2% to approximately

HK$390.9 million (for the six months ended 30 June 2019:

approximately HK$817.1 million), which contributed 56.5% (for the

six months ended 30 June 2019: 85.8%) to the Group’s total

revenue. Gross profit from the hospitality supplies business decreased

56.5% to approximately HK$81.5 million for the six months ended

30 June 2020 (for the six months ended 30 June 2019: approximately

HK$187.3 million). The segment’s gross profit margin decreased 2.1

percentage points to 20.8% for the six months ended 30 June 2020,

compared with 22.9% for the six months ended 30 June 2019.

截至二零二零年六月三十日止六個月，來

自中國及香港的酒店供應品業務收入分別

約106.3百萬港元及83.6百萬港元（截至二零

一九年六月三十日止六個月：約267.6百萬

港元及162.4百萬港元），分別佔酒店供應

品業務分類總收入之27.2%及21.4%（截至

二零一九年六月三十日止六個月：32.7%及

19.9%)。截至二零二零年六月三十日止六

個月，來自北美、歐洲、其他亞太地區及澳

洲的酒店供應品業務收入分別約72.5百萬港

元、54.0百萬港元、65.0百萬港元及8.2百萬

港元（截至二零一九年六月三十日止六個月：

約122.4百萬港元、116.2百萬港元、128.2

百萬港元及19.0百萬港元），分別佔酒店供

應品業務分類總收入之18.5%、13.8%、

16.6%及2.1%（截至二零一九年六月三十

日止六個月：15.0%、14.2%、15.7%及

2.3%）。

營運用品及設備業務

截至二零二零年六月三十日止六個月，本集

團的營運用品及設備業務收入約47.0百萬港

元，較截至二零一九年六月三十日止六個月

約69.2百萬港元減少32.1%，佔本集團總收

入之6.8%（截至二零一九年六月三十日止六

個月：7.3%）。截至二零二零年六月三十日

止六個月，營運用品及設備業務的毛利減少

18.6%至約11.8百萬港元（截至二零一九年六

月三十日止六個月：約14.5百萬港元）。截至

二零二零年六月三十日止六個月，此分類的

毛利率上升4.2個百分點至25.2%（截至二零

一九年六月三十日止六個月：21.0%）。

截至二零二零年六月三十日止六個月，來自

中國及其他市場的營運用品及設備業務收入

分別約26.7百萬港元及20.3百萬港元（截至

二零一九年六月三十日止六個月：約41.1百

萬港元及28.1百萬港元），分別佔營運用品

及設備業務分類總收入之56.7%及43.3%（截

至二零一九年六月三十日止六個月：59.3%

及40.7%）。

健康護理及衛生用品業務

本集團已在生產感染控制之即棄產品，例如

醫用儀器罩，以及自家品牌「Pasion」及「體 .

研究所」下之健康護理產品。於COVID-19大

流行期間，市場對健康護理及衛生用品的需

求不斷增加，以及作為我們企業社會責任之

一部分，本集團於二零二零年初調整其部分

生產線生產「Pasion」與「體 . 研究所」品牌的

酒精搓手液及「Pasion」品牌與「明輝」品牌

之三層一次性口罩。截至二零二零年六月

三十日止六個月內，本集團進一步擴展其

「Pasion」品牌系列產品，包括增加全方位潔

淨殺菌消毒噴霧、消毒殺菌手部噴霧、酒精

消毒濕巾以及防疫套裝等健康護理及衛生

用品。一如既往，本集團注重我們產品的質

素。上述產品均通過香港通用檢測認證有限

公司（SGS）的測試，而「Pasion」品牌之三層

一次性口罩更獲得香港優質標誌局發出之「香

港Q嘜」認證。

Hospitality supplies business revenues for the six months ended 30

June 2020 from the PRC and Hong Kong were approximately

HK$106.3 million and HK$83.6 million (for the six months ended 30

June 2019: approximately HK$267.6 million and HK$162.4 million)

respectively, representing 27.2% and 21.4% (for the six months

ended 30 June 2019: 32.7% and 19.9%) of the total hospitality

supplies business segment revenue respectively. Hospitality supplies

business revenues for the six months ended 30 June 2020 from the

North America, Europe, other Asia Pacific regions and Australia were

approximately HK$72.5 million, HK$54.0 million, HK$65.0 million

and HK$8.2 million (for the six months ended 30 June 2019:

approximately HK$122.4 million, HK$116.2 million, HK$128.2 million

and HK$19.0 million) respectively, accounted for 18.5%, 13.8%,

16.6% and 2.1% (for the six months ended 30 June 2019: 15.0%,

14.2%, 15.7% and 2.3%) of the total hospitality supplies business

segment revenue respectively.

Operating Supplies and Equipment Business

Revenue from the Group’s OS&E business was approximately

HK$47.0 mill i on for the s i x months ended 30 June 2020,

representing a decrease of 32.1% as compared with approximately

HK$69.2 million for the six months ended 30 June 2019, and

contributing 6.8% (for the six months ended 30 June 2019: 7.3%) to

the Group’s total revenue. Gross profit from the OS&E business

decreased 18.6% to approximately HK$11.8 million for the six

months ended 30 June 2020 (for the six months ended 30 June

2019: approximately HK$14.5 million). The segment’s gross profit

margin increased 4.2 percentage points to 25.2% for the six months

ended 30 June 2020 (for the six months ended 30 June 2019:

21.0%).

For the six months ended 30 June 2020, OS&E business revenues

from the PRC and other markets were approximately HK$26.7 million

and HK$20.3 million (for the six months ended 30 June 2019:

approximately HK$41.1 million and HK$28.1 million) respectively,

representing 56.7% and 43.3% (for the six months ended 30 June

2019: 59.3% and 40.7%) of the total OS&E business segment

revenue respectively.

Health Care and Hygienic Products Business

The Group has been producing the disposable infection control

products such as medical equipment covers, and the health care

products under our self-labeled brands 「Pasion」 and 「everybody

LABO」. With the increasing demand in health care and hygienic

products in the markets during the COVID-19 pandemic and as part

of our corporate social responsibility, the Group switched some of its

production lines in early 2020 to produce alcoholic instant hand

sanitizers under the brands 「Pasion」 and 「everybody LABO」 and

3-ply disposable face masks under the brands 「Pasion」 and 「Ming

Fai」. During the six months ended 30 June 2020, the Group further

expanded the product portfolio under 「Pasion」 brand by adding

health care and hygienic products, including all-purpose disinfectant

sprays, alcoholic disinfectant hand sprays, alcoholic disinfectant wet

wipes, and anti-epidemic travel kits. As always, the Group pursues

high standard of quality in our products. All of the above-mentioned

products passed the tests by SGS Hong Kong Limited, of which the

3-ply disposable face masks under 「Pasion」 brand has also obtained

「Hong Kong Q-Mark」 licence issued by Hong Kong Q-Mark Council.

截至二零二零年六月三十日止六個月，本集

團的健康護理及衛生用品業務收入約254.2

百萬港元（截至二零一九年六月三十日止六

個月：約65.5百萬港元），佔本集團總收入

之36.7%（截至二零一九年六月三十日止六

個月：6.9%)。截至二零二零年六月三十日

止六個月，健康護理及衛生用品業務的毛利

約97.5百萬港元（截至二零一九年六月三十

日止六個月：約10.7百萬港元）。截至二零

二零年六月三十日止六個月，此分類的毛利

率為38.4%（截至二零一九年六月三十日止

六個月：16.4%)。

截至二零二零年六月三十日止六個月，來自

北美、香港及其他市場的健康護理及衛生用

品業務收入分別約54.9百萬港元、49.8百萬

港元及149.5百萬港元（截至二零一九年六月

三十日止六個月：約62.9百萬港元、0.1百萬

港元及2.5百萬港元），分別佔健康護理及衛

生用品業務分類總收入之21.6%、19.6%及

58.8%（截至二零一九年六月三十日止六個

月：96.1%、0.1%及3.8%)。

前景

外在風險及疲弱之全球市場

隨著COVID-19大流行的持續蔓延，對二零

二零年下半年全球經濟活動造成更負面之影

響。由於許多國家及城市的封鎖及入境限制

時間持續不明朗，以及經濟衰退期間消費者

信心不足，旅遊、酒店及航空業仍然脆弱。

除上述以外，中美緊張局勢之持續升溫及地

緣政治的不明朗因素均將為本集團的酒店供

應品業務及營運用品及設備業務帶來不利影

響。本集團在評估本集團財務表現及營運狀

況的同時，將密切關注本集團面對COVID-19

大流行、宏觀經濟風險及不明朗因素的風險。

環保趨勢及法律與規例

此外，本集團的酒店供應品業務持續面對「走

塑」趨勢的覺醒及全球（尤其是歐洲及中國）

環保法律及規例出臺的額外挑戰。於二零二

零年，中國更多城市已調整規例及慣例，不

鼓勵向酒店客人提供一次性使用產品，包括

牙刷、拖鞋及香皂，作為環保政策之一部分。

Revenue from the Group’s health care and hygienic products business

for the six months ended 30 June 2020 was approximately HK$254.2

million (for the six months ended 30 June 2019: approximately

HK$65.5 million), which contributed 36.7% (for the six months

ended 30 June 2019: 6.9%) to the Group’s total revenue. Gross

profit from the health care and hygienic products business was

approximately HK$97.5 million for the six months ended 30 June

2020 (for the six months ended 30 June 2019: approximately

HK$10.7 million). The segment’s gross profit margin was 38.4% for

the six months ended 30 June 2020 (for the six months ended 30

June 2019: 16.4%).

For the six months ended 30 June 2020, the revenues of health care

and hygienic products business from the North America, Hong Kong

and other markets were approximately HK$54.9 million, HK$49.8

million and HK$149.5 million (for the six months ended 30 June

2019: approximately HK$62.9 million, HK$0.1 million and HK$2.5

million) respectively, representing 21.6%, 19.6% and 58.8% (for the

six months ended 30 June 2019: 96.1%, 0.1% and 3.8%) of the

total health care and hygienic products business segment revenue

respectively.

OUTLOOK

External risks and weakened global markets

As the COVID-19 pandemic continues to unfold, which is creating a

more negative impact on the global economic activities in the second

half of 2020. With the unknown duration of lockdowns and travel

restrictions in many countries and cities, and the muted consumer

confidence during the economic recession, the tourism, hospitality

and aviation industries continue to be vulnerable. In addition to the

aforesaid, the continuously rising China-U.S. tension and geopolitical

uncertainties will bring negative effects to the Group’s hospitality

supplies and OS&E businesses. The Group will pay close attention on

the Group’s exposure to the COVID-19 pandemic, the macroeconomic

risks and uncertainties while assessing the Group’s financial performance

and operations.

Environmental protection trends and laws and

regulations

Moreover, the hospitality supplies business of the Group continues to

face additional challenges by the awakening 「no plastic」 trend and

the introduction of environmental protection laws and regulations

around the world, especially in Europe and the PRC. More cities in

the PRC has adjusted their regulations and practices in year 2020 to

discourage the provision of single-use disposable products, including

toothbrushes, slippers and soaps, to hotel customers as part of the

environmental protection policies.

產品研發

另一方面，COVID-19大流行進一步加速提

高公眾的健康及個人衛生意識，引領健康護

理及衛生用品的需求不斷增加。我們已藉此

機會滿足市場的需求，並進一步於「Pasion」

品牌下開發多款新產品，包括最近在市場推

出的抑菌消毒洗手液及沐浴露、防敏修護系

列洗髮水、護髮素、沐浴露及潤膚乳等。

因應全球對環保的關注提升，本集團一直致

力研發酒店供應品類之環保產品，例如皂液

器、固體洗髮水、固體護髮素、固體沐浴露

及固體潤膚露，以滿足不同地區酒店的各自

需要。

提高競爭力及改善利潤率

本集團將透過繼續發展其於柬埔寨之生產基

地以降低其生產成本及減少中美貿易戰的影

響、提高生產效率，以及善用自身資源，以

提升本集團之競爭力。本集團將通過審慎管

理營運資金以加強財務狀況，並繼續實施審

慎及靈活的經營策略及成本控制政策，繼續

致力改善利潤率。

新商機探索

與此同時，本集團將繼續透過現有合作夥伴

關係帶來的機會，並密切關注潛在的新業務

及策略以同時發展業務。此外，本集團將繼

續擴大不同地區業務的市場份額，並擴大產

品組合，以尋求新的商機。

僱員及薪酬政策

於二零二零年六月三十日，本集團的僱員總

數（包括短期合約工人）約4,300人。截至二

零二零年六月三十日止六個月，僱員福利開

支（包括董事酬金）約178.2百萬港元。本集

團僱員（包括董事）之薪酬一般乃參照市場條

款及個人資歷而釐定，並定期作出檢討。本

集團亦向特定員工提供多項其他福利，包括

酌情花紅、社會保險或醫療保險、購股權計

劃、股份獎勵計劃、持續教育及培訓課程。

本集團亦推行關鍵績效指標評核計劃及年度

嘉勉狀計劃，以提升僱員個人表現及營運效

率。

Product research and development

On the other hand, the COVID-19 pandemic has further accelerated

the public awareness of health and personal hygiene, leading to the

growing demand of the health care and hygienic products. We have

taken this opportunity to fulfill the market demand and has further

developed a variety of new products under 「Pasion」 brand, including

the anti-bacterial hand soap and body wash, sensitive care shampoo,

conditioner, shower gel and body lotion, which has been recently

launched to the market.

In response to the rising concerns of the worldwide environmental

protection, the Group has been putting efforts on research and

development for environmental-friendly hospitality supplies products,

such as dispensers, shampoo bars, conditioner bars, body wash bars

and lotion bars, to fit the respective needs of hotels in different

regions.

Competitiveness enhancement and margin improvement

The Group will continue to develop its production base in Cambodia

to lower its production costs and lessen the impacts from the

China-U.S. trade war, increase manufacturing efficiencies and make

best use of our resources to enhance the Group’s competitiveness.

The Group will strengthen the financial position with cautious

management of working capital and continue to work on improving

the margins by adopting prudent and flexible business strategies and

costs control policies.

New business opportunities exploration

Meanwhile, the Group will keep on capitalizing opportunities from

the Group’s existing partnerships, and closely monitor potential new

business streams and strategies to simultaneously ensure the

development of its businesses. Furthermore, the Group will continue

to expand the market shares of our businesses in different regions

and expand our product portfolio in order to seek new business

opportunities.

EMPLOYEES AND REMUNERATION POLICY

The total number of employees of the Group, including short-term

contract workers, was approximately 4,300 as at 30 June 2020. The

employee benefit expenses including Directors』 emoluments were

approximately HK$178.2 million for the six months ended 30 June

2020. The remuneration of employees (including the Directors) of the

Group are generally structured by reference to market terms and

individual merits, which is reviewed on a regular basis. The Group

also provides various other benefits to designated staff, including

discretionary bonus, social insurance or medical insurance, share

option scheme, share award scheme, continuing education and

training programmes. The Group also launched key performance

indicators assessment scheme and commendation annual award

scheme to boost individual performance and operational efficiency.

PURCHASE, SALE OR REDEMPTION OF LISTED

SECURITIES OF THE COMPANY

During the six months ended 30 June 2020, neither the Company nor

any of its subsidiaries purchased, sold or redeemed any listed

securities of the Company.

CORPORATE GOVERNANCE CODE

The Group has complied with all the code provisions set out in the

「Corporate Governance Code」 (the 「CG Code」) during the six

months ended 30 June 2020, as set out in Appendix 14 to the Rules

Governing the Listing of Securities on The Stock Exchange of Hong

Kong Limited (the 「Stock Exchange」) (the 「Listing Rules」), except

the deviation of the following code provisions of the CG Code:

. Code provision A.2.1: the Board has not appointed an

individual to the post of chief executive officer up to the date

of this report and the role of the chief executive officer has

been performed collectively by all the Executive Directors of

the Company, including the Chairman of the Company. The

Board considers that this arrangement allows contributions

from all Executive Directors of the Company with different

expertise and is beneficial to the continuity of the Company’s

policies and strategies.

. Code provision E.1.2: with the COVID-19 pandemic and the

travel restrictions in place in the PRC and Hong Kong

respectively, the Chairman of the Board did not attend the

annual general meeting of the Company held on 27 May

2020.

AUDIT COMMITTEE

The audit committee of the Company (the 「Audit Committee」)

comprises four Independent Non-Executive Directors of the Company

with written terms of reference in accordance with the requirements

of the Listing Rules. The Audit Committee has reviewed the Group’s

unaudited condensed consolidated interim results for the six months

ended 30 June 2020.

MODEL CODE FOR DIRECTORS』 SECURITIES

TRANSACTIONS

The Company adopted the 「Model Code for Securities Transactions

by Directors of Listed Issuers」 (the 「Model Code」) as set out in

Appendix 10 to the Listing Rules as its code of conduct regarding

Directors』 securities transactions on 5 October 2007. Having made

specific enquiries to all Directors of the Company, all Directors of the

Company confirmed that they have complied with the required

standard as set out in the Model Code for the six months ended 30

June 2020.

CHANGE OF NAME OF PRINCIPAL SHARE

REGISTRAR AND TRANSFER OFFICE IN THE

CAYMAN ISLANDS

The name of the principal share registrar and transfer office of the

Company in the Cayman Islands was changed from SMP Partners

(Cayman) Limited to Suntera (Cayman) Limited with effect from 4

September 2020.

購買、出售或贖回本公司上市

證券

截至二零二零年六月三十日止六個月內，本

公司或其任何附屬公司概無購買、出售或贖

回本公司任何上市證券。

企業管治守則

截至二零二零年六月三十日止六個月內，本

集團已遵守香港聯合交易所有限公司（「聯交

所」）證券上市規則（「上市規則」）附錄十四

所載之《企業管治守則》（「企管守則」）之所

有守則條文，惟偏離以下企管守則之守則條

文：

. 守則條文第A.2.1條：董事會於截至本

報告日期尚未委任一名人士擔任行政

總裁之職務及行政總裁之職責由本公

司全體執行董事（包括本公司主席）共

同履行。董事會認為此安排有利於本

公司全體執行董事利用不同專長作出

貢獻，並有利於保持本公司一貫政策

及策略。

. 守則條文第E.1.2條：鑑於COVID-19大

流行及中國與香港分別實施入境限制

措施，董事會主席未能出席本公司於

二零二零年五月二十七日舉行之股東

週年大會。

審核委員會

本公司之審核委員會（「審核委員會」）由四名

本公司之獨立非執行董事組成，並已根據上

市規則規定以書面訂明職權範圍。審核委員

會已審閱本集團截至二零二零年六月三十日

止六個月之未經審核簡明綜合中期業績。

董事進行證券交易之標準守則

於二零零七年十月五日，本公司採納上市規

則附錄十所載《上市發行人董事進行證券交

易的標準守則》（「標準守則」）作為董事進行

證券交易之操守準則。經向本公司全體董事

作出特定查詢後，本公司全體董事確認彼等

已於截至二零二零年六月三十日止六個月遵

守標準守則所載之規定。

於開曼群島之主要股份過戶登記

處公司名稱變更

自二零二零年九月四日起，本公司於開曼

群島之主要股份過戶登記處之公司名稱已

由SMP Partners (Cayman) Limited變更為

Suntera (Cayman) Limited。

DIRECTORS』 INTERESTS AND SHORT POSITIONS

IN SHARES, UNDERLYING SHARES AND

DEBENTURES OF THE COMPANY AND ITS

ASSOCIATED CORPORATIONS

As at 30 June 2020, the interests and short positions of the Directors

in shares, underlying shares and debentures of the Company or any

of its associated corporation (within the meaning of the Securities

and Futures Ordinance (「SFO」)) as recorded in the register required

to be kept under Section 352 of the SFO or as otherwise notified to

the Company and the Stock Exchange pursuant to the Model Code

as set out in Appendix 10 to the Listing Rules were as follows:

Long positions in Shares and underlying Shares

Number of Shares held

Number of

underlying

Shares held

under equity

derivatives

(Note 1)

持有股份數目

以股本衍生

工具持有之

相關股份數目

（附註1）

Name of Directors

Personal

Interests

(beneficial

owner)

Family

Interests

(interests of

spouse)

Corporate

Interests

(interests of

controlled

corporation)

Personal

Interests

(beneficial

owner)

Total

Approximate

percentage of

issued Shares

(734,262,697

Shares)

as at

30 June 2020

董事姓名

個人權益

（實益擁有人）

家族權益

（配偶權益）

法團權益

（受控法團權益）

個人權益

（實益擁有人）

總計

於二零二零年

六月三十日

已發行股份

（734,262,697股）

之概約百分比

Mr. CHING Chi Fai

17,444,000

–

197,666,200

–

215,110,200

29.30%

程志輝先生

(Note 2 & 3)

（附註2及3）

Mr. CHING Chi Keung

4,000,000

–

32,499,600

–

36,499,600

4.97%

程志強先生

(Note 3)

（附註3）

Mr. LIU Zigang

4,000,000

–

20,057,200

–

24,057,200

3.28%

劉子剛先生

(Note 4)

（附註4）

Mr. CHING Tsun Wah

3,734,000

775,000

–

4,509,000

0.61%

程俊華先生

(Note 5)

（附註5）

Mr. KEUNG Kwok Hung

–

1,158,000

0.16%

姜國雄先生

Ms. CHAN Yim Ching

–

32,499,600

–

32,499,600

4.43%

陳艷清女士

(Note 3)

（附註3）

董事於本公司及其相聯法團股份、

相關股份及債權證之權益及淡倉

於二零二零年六月三十日，董事於本公司或

其任何相聯法團（定義見證券及期貨條例（「證

券及期貨條例」））之股份、相關股份及債權

證中，擁有記入根據證券及期貨條例第352

條須予備存之登記冊中或已根據上市規則附

錄十標準守則通知本公司及聯交所之權益及

淡倉如下：

於股份及相關股份之好倉

Number of Shares held

Number of

underlying

Shares held

under equity

derivatives

(Note 1)

持有股份數目

以股本衍生

工具持有之

相關股份數目

（附註1）

Name of Directors

Personal

Interests

(beneficial

owner)

Family

Interests

(interests of

spouse)

Corporate

Interests

(interests of

controlled

corporation)

Personal

Interests

(beneficial

owner)

Total

Approximate

percentage of

issued Shares

(734,262,697

Shares)

as at

30 June 2020

董事姓名

個人權益

（實益擁有人）

家族權益

（配偶權益）

法團權益

（受控法團權益）

個人權益

（實益擁有人）

總計

於二零二零年

六月三十日

已發行股份

（734,262,697股）

之概約百分比

Mr. HUNG Kam Hung Allan

600,000

–

600,000

0.08%

孔錦洪先生

Mr. MA Chun Fung Horace

600,000

–

600,000

0.08%

馬振峰先生

Mr. NG Bo Kwong

600,000

–

600,000

0.08%

吳保光先生

Notes:

1. These underlying Shares held under equity derivatives represented the

share options granted by the Company (being regarded as unlisted

physically settled equity derivatives). Details of the share options granted

to the Directors are set out in the section headed 「Share Option Scheme」

of this report.

2. 165,166,600 Shares were held by Prosper Well International Limited,

which was wholly-owned by Mr. CHING Chi Fai.

3. 32,499,600 Shares were held by Targetwise Trading Limited, which was

owned as to 50%, 19.23% and 30.77% by Mr. CHING Chi Keung,

Ms. CHAN Yim Ching and Mr. CHING Chi Fai respectively.

4. 20,057,200 Shares were held by Favour Power Limited, which was

wholly-owned by Mr. LIU Zigang.

5. 775,000 Shares were held by Ms. SO Wai Yin Tracy, the spouse of

Mr. CHING Tsun Wah.

Save as disclosed above, as at 30 June 2020, none of the Directors

had any interest or short positions in shares, underlying shares and

debentures of the Company or any of its associated corporation

(within the meaning of the SFO) as recorded in the register required

to be kept under Section 352 of the SFO or as otherwise notified to

the Company and the Stock Exchange pursuant to the Model Code.

附註：

1. 此等以股本衍生工具持有之相關股份乃本公

司授出之購股權（被視為以實物結算之非上

市股本衍生工具）。授予董事之購股權詳情

載於本報告「購股權計劃」一節。

2. 165,166,600股股份由Prosper Well International

Limited持有，而該公司由程志輝先生全資

擁有。

3. 32,499,600股股份由Targetwi se Trading

Limited持有，而該公司由程志強先生、陳艷

清女士及程志輝先生分別擁有50%、19.23%

及30.77%權益。

4. 20,057,200股股份由Favour Power Limited持

有，而該公司由劉子剛先生全資擁有。

5. 775,000股股份由程俊華先生之配偶蘇瑋賢

女士持有。

除上文所披露者外，於二零二零年六月三十

日，概無董事於本公司或其任何相聯法團（定

義見證券及期貨條例）之股份、相關股份及

債權證中擁有任何記入根據證券及期貨條例

第352條規定須予備存之登記冊中或根據標

準守則須通知本公司及聯交所之權益或淡倉。

SUBSTANTIAL SHAREHOLDERS』 AND OTHER

PERSONS』 INTERESTS AND SHORT POSITIONS

IN SHARES AND UNDERLYING SHARES OF

THE COMPANY

As at 30 June 2020, so far as it was known by or otherwise notified

by any Director, the interests and short positions of the substantial

shareholders and other persons (other than a Director), in Shares and

underlying Shares as recorded in the register required to be kept

under Section 336 of the SFO were as follows:

Long positions in Shares

Number of Shares held

持有股份數目

Name

Personal

Interests

(beneficial

owner)

Family

Interests

(interests of

spouse)

Corporate

Interests

(beneficial

owner)

Corporate

Interests

(investment

manager)

Corporate

Interests

(interests of

controlled

corporation)

Total

Approximate

percentage of

issued Shares

(734,262,697

Shares)

as at

30 June 2020

名稱╱姓名

個人權益

（實益擁有人）

家族權益

（配偶權益）

法團權益

（實益擁有人）

法團權益

（投資經理）

法團權益

（受控法團權益）

總計

於二零二零年

六月三十日

已發行股份

（734,262,697股）

之概約百分比

Prosper Well International Limited (Note 1)

–

165,166,600

–

165,166,600

22.49%

Prosper Well International Limited （附註1）

Ms. LO Kit Ling (Note 1)

–

215,110,200

–

215,110,200

29.30%

盧潔玲女士（附註1）

Mr. David Michael WEBB (Note 2)

38,119,173

–

64,864,827

102,984,000

14.02%

David Michael WEBB先生（附註2）

Preferable Situation Assets Limited (Note 2)

–

64,864,827

–

64,864,827

8.83%

Preferable Situation Assets Limited（附註2）

Wykeham Capital Asia Value Fund (Note 3)

–

44,570,000

–

44,570,000

6.07%

Wykeham Capital Asia Value Fund（附註3）

Wykeham Capital Limited (Note 3)

–

44,570,000

–

44,570,000

6.07%

Wykeham Capital Limited（附註3）

Mr. Howel Gruffudd Rhys THOMAS (Note 3)

–

44,570,000

6.07%

Howel Gruffudd Rhys THOMAS先生（附註3）

大股東及其他人士於本公司股份

及相關股份之權益及淡倉

於二零二零年六月三十日，就任何董事所知

悉或彼等以其他方式獲通知，大股東及其他

人士（董事除外）於股份及相關股份中擁有

記入根據證券及期貨條例第336條須予備存

的登記冊中之權益及淡倉如下：

於股份之好倉

Notes:

1. 165,166,600 Shares were held by Prosper Well International Limited,

which was wholly-owned by Mr. CHING Chi Fai (an Executive Director and

the Chairman of the Company). 32,499,600 Shares were held by

Targetwise Trading Limited, which was owned as to 30.77% by Mr. CHING

Chi Fai. Mr. CHING Chi Fai also beneficially held 17,444,000 Shares.

Ms. LO Kit Ling, being the spouse of Mr. CHING Chi Fai, was deemed to

be interested in the 215,110,200 Shares in which Mr. CHING Chi Fai

interested.

2. Based on the disclosure of interests notice of Preferable Situation Assets

Limited with the date of relevant event on 10 July 2017 received by the

Company, 58,035,665 Shares were held by Preferable Situation Assets

Limited, which was wholly-owned by Mr. David Michael WEBB,

representing 8.00% of the issued Shares as at that day. Based on the

disclosure of interests notice of Mr. David Michael WEBB with the date of

relevant event on 10 January 2020 received by the Company, 64,864,827

Shares were held by Preferable Situation Assets Limited, which was

wholly-owned by Mr. David Michael WEBB, who also beneficially held

38,119,173 Shares. Save as disclosed above, no further respective

disclosure of interests notices of Mr. David Michael WEBB and Preferable

Situation Assets Limited with the date of relevant event on or before 30

June 2020 were received by the Company.

3. Based on the disclosure of interests notices with the date of relevant event

on 17 May 2017 received by the Company, Mr. Howel Gruffudd Rhys

THOMAS was deemed to be interested in the 44,570,000 Shares owned by

Wykeham Capital Asia Value Fund by virtue of his 100% shareholding

interest in Wykeham Capital Limited (which was the investment manager

of Wykeham Capital Asia Value Fund). Save as disclosed above, no further

respective disclosure of interests notices of Wykeham Capital Asia Value

Fund, Wykeham Capital Limited and Mr. Howel Gruffudd Rhys THOMAS

with the date of relevant event on or before 30 June 2020 were received

by the Company.

Save as disclosed above and in the section headed 「Directors』

interests and short positions in shares, underlying shares and

debentures of the Company and its associated corporations」 of this

report, as at 30 June 2020, so far as it was known by or otherwise

notified by any Director, none of the substantial shareholders and

other persons (other than a Director), had any interest or short

positions in Shares and underlying Shares as recorded in the register

required to be kept under Section 336 of the SFO.

附註：

1. 165,166,600股股份由Prosper Well International

Limited持有，而該公司由執行董事兼本公司

主席程志輝先生全資擁有。32,499,600股股

份由Targetwise Trading Limited持有，而該公

司由程志輝先生擁有30.77%權益。程志輝先

生亦實益持有17,444,000股股份。盧潔玲女

士為程志輝先生的配偶，被視為於程志輝先

生擁有權益的215,110,200股股份中擁有權益。

2. 根據本公司收到Preferable Situation Assets

Limited於有關事件日期為二零一七年七月

十日之權益披露通知，Preferable Situation

Assets Limited（由David Michael WEBB先生

全資擁有）持有58,035,665股股份，佔當天

已發行股份之8.00%。根據本公司收到David

Michael WEBB先生於有關事件日期為二零二

零年一月十日之權益披露通知，64,864,827

股股份乃由Preferable Situation Assets

Limited（由David Michael WEBB先生全資擁

有）持有，而彼亦實益持有38,119,173股股

份。除以上披露者外，本公司概無收到David

Michael WEBB先生及Preferable Situation

Assets Limited各自於有關事件日期為二零二

零年六月三十日或以前之進一步權益披露通

知。

3. 根據本公司收到有關事件日期為二零一七

年五月十七日之權益披露通知，Howel

Gruffudd Rhys THOMAS先生因持有Wykeham

Capital Limited（為Wykeham Capital Asia

Value Fund之投資經理）之100%股權，故其

被視為於Wykeham Capital Asia Value Fund

所持有的44,570,000股股份中擁有權益。除

以上披露者外，本公司概無收到Wykeham

Capital Asia Value Fund、Wykeham Capital

Limited及Howel Gruffudd Rhys THOMAS先生

各自於有關事件日期為二零二零年六月三十

日或以前之進一步權益披露通知。

除上文及本報告「董事於本公司及其相聯法

團股份、相關股份及債權證之權益及淡倉」

一節所披露者外，於二零二零年六月三十

日，就任何董事所知悉或彼等以其他方式獲

通知，概無大股東及其他人士（董事除外）於

股份及相關股份中擁有任何記入根據證券及

期貨條例第336條須予備存的登記冊中之權

益或淡倉。

SHARE OPTION SCHEME

The Company has conditionally adopted a share option scheme on 5

October 2007. Particulars of movements in the share options during

the six months ended 30 June 2020 were as follows:

Number of share options

購股權數目

Grantee

Date of grant

Exercise period

Exercise

price

Outstanding

as at

1 January

2020

Granted

during

the

period

Exercised

during

the

period

Cancelled

during

the

period

Lapsed

during

the

period

Outstanding

as at

30 June

2020

承授人

授出日期

行使期

行使價

於二零二零年

一月一日

尚未行使

期內

授出

期內

行使

期內

註銷

期內

失效

於二零二零年

六月三十日

尚未行使

HK$

港元

Directors

董事

Mr. KEUNG Kwok Hung

04-09-2012

09-09-2012 to 08-09-2021

0.62

579,000

–

579,000

姜國雄先生

二零一二年九月四日

二零一二年九月九日至

二零二一年九月八日

04-09-2012

09-09-2013 to 08-09-2021

0.62

579,000

–

579,000

二零一二年九月四日

二零一三年九月九日至

二零二一年九月八日

Employees

僱員

In aggregate

04-09-2012

09-09-2012 to 08-09-2021

0.62

844,000

–

844,000

合計

二零一二年九月四日

二零一二年九月九日至

二零二一年九月八日

04-09-2012

09-09-2013 to 08-09-2021

0.62

844,000

–

844,000

二零一二年九月四日

二零一三年九月九日至

二零二一年九月八日

04-09-2012

04-09-2013 to 03-09-2022

0.62

225,000

–

225,000

二零一二年九月四日

二零一三年九月四日至

二零二二年九月三日

04-09-2012

04-09-2014 to 03-09-2022

0.62

337,000

–

337,000

二零一二年九月四日

二零一四年九月四日至

二零二二年九月三日

Total

3,408,000

–

3,408,000

總計

The weighted average closing price of the Shares immediately before

the dates on which the share options were exercised for the six

months ended 30 June 2019 was HK$1.12 per Share. No Share

options were exercised for the six months ended 30 June 2020.

SHARE AWARD SCHEME

On 23 September 2016, the Company adopted the Share Award

Scheme in which the Group’s employees, Directors, consultants or

advisers will be entitled to participate. For the six months ended 30

June 2020, no Shares were acquired from the market by Bank of

Communications Trustee Limited (「the Independent Trustee」), which

is independent and not connected with the Company. No Shares

have been granted to eligible persons under the Share Award Scheme

up to the date of this report.

購股權計劃

本公司於二零零七年十月五日有條件採納一

項購股權計劃。截至二零二零年六月三十日

止六個月，購股權之變動詳情如下：

於截至二零一九年六月三十日止六個月，股

份在緊接購股權行使日期之前的加權平均收

市價為每股1.12港元。於截至二零二零年六

月三十日止六個月，概無行使購股權。

股份獎勵計劃

於二零一六年九月二十三日，本公司採納股

份獎勵計劃，而本集團的僱員、董事、諮詢

人或顧問將有權參與計劃。截至二零二零年

六月三十日止六個月，交通銀行信託有限公

司（「獨立受託人」，其獨立於本公司及與本

公司概無關連）並無於市場上購買股份。截

至本報告日期為止，概無根據股份獎勵計劃

向合資格人士授出股份。

The objectives of the Share Award Scheme are (i) to recognise the

contributions by certain eligible persons; and (ii) to offer suitable

incentives to attract and retain targeted talents and personnel for the

continuance of operations and future development of the Group.

The Share Award Scheme shall be subject to the administration of

the Board and the Independent Trustee in accordance with the

scheme rules and the trust deed of the Share Award Scheme. Subject

to any early termination as may be determined by the Board, the

Share Award Scheme shall be valid and effective for a term of ten

years commencing on its adoption date (i.e. 23 September 2016).

The Board shall not make any further award of awarded Shares

which will result in the nominal value of the Shares awarded by the

Board under the Share Award Scheme exceeding 5% of the issued

share capital of the Company from time to time. The maximum

number of Shares which may be awarded to a selected person under

the Share Award Scheme shall not exceed 1% of the issued share

capital of the Company from time to time.

Details of the Share Award Scheme were set out in the announcement

of the Company dated 23 September 2016.

INTERIM DIVIDEND

Dividend Policy

The Board intend to strike a balance between maintaining sufficient

capital to grow the business of the Group and rewarding the

Shareholders. The declaration and payment of any dividends by the

Company would be subject to the Board’s decision and any final

dividend for a financial year of the Company would be subject to the

Shareholders』 approval. The decision to declare or to pay any

dividend, and the amount of any dividends, will depend on the

Group’s earnings, financial condition, cash requirements and

availability, and any other factors the Board may consider relevant.

These factors and the payment of dividends is at the discretion of the

Board and the Board reserves the right to change its plan on any

future payment of dividends. The payment of dividend is also subject

to any restrictions under the laws of Hong Kong and the Cayman

Islands and the Articles of Association of the Company.

Dividend

The Board has declared the payment of an interim dividend of

HK1.0 cent per Share for the six months ended 30 June 2020 to the

Shareholders whose names appear on the register of members of the

Company on Tuesday, 22 September 2020. It is expected that the

interim dividend will be paid on or around Monday, 5 October 2020.

CLOSURE OF REGISTER OF MEMBERS

The register of members of the Company will be closed from

Monday, 21 September 2020 to Tuesday, 22 September 2020 (both

dates inclusive), during which period no transfer of Shares will be

effected. In order to qualify for the interim dividend, all documents in

respect of transfers of Shares accompanied by the relevant share

certificates must be lodged with the Company’s branch share

registrar in Hong Kong, Computershare Hong Kong Investor Services

Limited, at Shops 1712–1716, 17th Floor, Hopewell Centre, 183

Queen’s Road East, Wanchai, Hong Kong for registration no later

than 4:30 p.m. on Friday, 18 September 2020.

股份獎勵計劃之目標為(i)肯定若干合資格人

士所作出的貢獻；及(ii)提供適當獎勵以吸引

及挽留目標人才及人員以讓本集團持續經營

及發展未來。

根據股份獎勵計劃的計劃規則及信託契據，

股份獎勵計劃須受董事會及獨立受託人管

理。股份獎勵計劃之有效期及生效期自其採

納日期（即二零一六年九月二十三日）起計

為期十年，惟董事會或可決定提前終止。

倘董事會授出獎勵股份後將導致董事會根據

股份獎勵計劃已授出的股份面值超過本公司

不時已發行股本之5%，董事會將不得進一

步授出任何獎勵股份。獲選人士根據股份獎

勵計劃可獲授的最高股份數目不得超過本公

司不時已發行股本之1%。

股份獎勵計劃的詳情載列於本公司日期為二

零一六年九月二十三日的公告。

中期股息

股息政策

董事會有意於業務發展維持充足資本與股

東回報之間取得平衡。本公司任何股息之宣

派及派發均取決於董事會之決定，而本公司

財政年度之任何末期股息將取決於股東之

批准。宣派或派發任何股息以及任何股息之

金額的決策將取決於本集團之盈利、財務狀

況、現金需求及可動用現金，以及董事會可

能認為有關的任何其他因素。此等因素及股

息之派發乃由董事會酌情決定及董事會保留

更改其任何未來股息派發計劃之權利。股息

之派發亦受香港及開曼群島法例以及本公司

之組織章程細則規定之任何限制。

股息

董事會宣佈向於二零二零年九月二十二日（星

期二）名列本公司股東名冊的股東派發截至

二零二零年六月三十日止六個月之中期股息

每股1.0港仙。中期股息預期將於二零二零

年十月五日（星期一）或前後派發。

暫停辦理股份過戶登記手續

本公司將於二零二零年九月二十一日（星期

一）至二零二零年九月二十二日（星期二）（包

括首尾兩天）暫停辦理股份過戶登記手續，

期間內將不會進行股份過戶。為符合獲派中

期股息之資格，所有有關股份過戶文件連同

有關股票須於二零二零年九月十八日（星期

五）下午四時三十分前，送達本公司於香港

之股份過戶登記分處香港中央證券登記有限

公司（地址為香港灣仔皇後大道東183號合

和中心17樓1712–1716號舖）登記。

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

Note

HK$』000

附註

千港元

ASSETS

資產

Non-current assets

非流動資產

Goodwill

商譽

10,413

10,354

Property, plant and equipment

物業、廠房及設備

430,813

400,631

Right-of-use assets

使用權資產

103,349

108,692

Investment property

投資物業

13,462

13,707

Intangible assets

無形資產

1,245

1,512

Deferred income tax assets

遞延所得稅資產

3,752

3,850

Other non-current assets

其他非流動資產

19,705

24,146

Investment in an associated company

於一間聯營公司的投資

5,856

5,869

Investments in joint ventures

於合營企業的投資

326

363

Other financial assets at

amortised cost

按攤銷成本列賬之

其他金融資產

422

425

Total non-current assets

非流動資產總額

589,343

569,549

Current assets

流動資產

Inventories

存貨

255,666

271,064

Other current assets

其他流動資產

38,832

39,801

Tax recoverable

可收回稅項

202

194

Other financial assets at

amortised cost

按攤銷成本列賬之

其他金融資產

14,367

12,363

Amounts due from joint ventures

應收合營企業款項

Amount due from an associated company

應收一間聯營公司款項

5,728

5,046

Trade and bills receivables

應收貿易賬款及票據

459,949

591,749

Short-term bank deposits

短期銀行存款

279

295

Cash and cash equivalents

現金及現金等值項目

369,213

348,849

Total current assets

流動資產總額

1,144,273

1,269,396

Total assets

資產總額

1,733,616

1,838,945

EQUITY

權益

Equity attributable to owners of

the Company

本公司擁有人

應佔權益

Share capital

股本

7,343

Reserves

儲備

1,165,283

1,139,045

Interim/final dividend proposed

建議中期╱末期股息

7,343

22,028

1,179,969

1,168,416

Non-controlling interests

非控股權益

(38,411)

(37,510)

Total equity

總權益

1,141,558

1,130,906

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

Note

HK$』000

附註

千港元

LIABILITIES

負債

Non-current liabilities

非流動負債

Deferred income tax liabilities

遞延所得稅負債

6,276

7,361

Other non-current payables

其他非流動應付款項

6,147

6,495

Borrowings

借貸

2,679

1,120

Lease liabilities

租賃負債

1,727

2,929

Total non-current liabilities

非流動負債總額

16,829

17,905

Current liabilities

流動負債

Trade payables

應付貿易賬款

123,705

226,430

Accruals and other payables

應計費用及其他應付款項

266,730

332,166

Current income tax liabilities

即期所得稅負債

32,912

43,395

Borrowings

借貸

130,590

65,303

Lease liabilities

租賃負債

3,643

5,208

Loans from non-controlling interests

來自非控股權益之貸款

17,455

17,446

Dividends payable

應付股息

194

186

Total current liabilities

流動負債總額

575,229

690,134

Total liabilities

負債總額

592,058

708,039

Total equity and liabilities

總權益及負債

1,733,616

1,838,945

The above interim condensed consolidated balance sheet should be

read in conjunction with the accompanying notes.

上述中期簡明綜合資產負債表應連同隨附之

附註一併閱覽。

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

Note

HK$』000

附註

千港元

Revenue

收入

692,078

951,852

Cost of sales

銷售成本

(499,465)

(737,105)

Gross profit

毛利

192,613

214,747

Other income

其他收入

17,638

6,408

Distribution costs

分銷成本

(83,552)

(115,307)

Administrative expenses

行政開支

(54,344)

(53,855)

Net impairment losses on financial assets

金融資產減值虧損淨額

(9,311)

(694)

Operating profit

經營溢利

63,044

51,299

Finance income

財務收入

341

505

Finance costs

財務成本

(1,558)

(907)

Share of profit/(loss) of an associated

company

應佔一間聯營公司溢利╱

（虧損）

211

(63)

Share of losses of joint ventures

應佔合營企業虧損

(37)

(90)

Profit before income tax

未計所得稅前溢利

62,001

50,744

Income tax expenses

所得稅開支

(16,302)

(16,041)

Profit for the period

期內溢利

45,699

34,703

Other comprehensive (loss)/income

其他全面（虧損）╱收益

Items that may be subsequently

reclassified to profit or loss

其後可能重新分類至

損益之項目

Currency translation differences

貨幣換算差額

(6,692)

371

Realisation of exchange reserve upon

dissolution of a subsidiary

解散一間附屬公司時變現

匯兌儲備

(6,490)

Total comprehensive income

for the period

期內全面

收益總額

32,517

35,141

Profit/(loss) for the period

attributable to:

應佔期內溢利╱

（虧損）：

Owners of the Company

本公司擁有人

47,211

37,457

Non-controlling interests

非控股權益

(1,512)

(2,754)

45,699

34,703

Total comprehensive income/(loss)

for the period attributable to:

應佔期內全面收益╱

（虧損）總額：

Owners of the Company

本公司擁有人

33,418

37,959

Non-controlling interests

非控股權益

(901)

(2,818)

32,517

35,141

Earnings per share attributable to

owners of the Company

(expressed in HK cents)

本公司擁有人

應佔每股盈利

（以港仙列示）

Basic

基本

24(a)

6.5

5.2

Diluted

攤薄

24(b)

6.5

5.1

The above interim condensed consolidated statement of comprehensive

income should be read in conjunction with the accompanying notes.

上述中期簡明綜合全面收益表應連同隨附之

附註一併閱覽。

Attributable to owners of the Company

本公司擁有人應佔

(Unaudited)

（未經審核）

capital

Shares held

for the

share award

scheme (the

「Scheme」)

premium

Other

reserves

Sub-total

Non-

controlling

interests

Total

equity

股本

就股份

獎勵計劃

（「計劃」）

持有之股份

股份溢價

其他儲備

小計

非控股權益

總權益

HK$』000

千港元

Balance at 1 January 2019

於二零一九年一月一日之結餘

7,282

(6,051)

609,548

511,778

1,122,557

(32,027)

1,090,530

Total comprehensive income/(loss)

for the period

期內全面收益╱（虧損）

總額

–

37,959

(2,818)

35,141

Transactions with owners,

in their capacity as owners

與擁有人進行之交易

（以擁有人身份）

Exercise of share options (Note 17(a))

行使購股權（附註17(a)）

–

3,713

–

3,774

–

3,774

Dividends relating to 2018

paid in 2019

於二零一九年支付

二零一八年之股息

–

(36,442)

–

(36,442)

Acquisition of a subsidiary

收購一間附屬公司

–

3,713

(36,442)

(32,668)

(32,588)

Balance at 30 June 2019

於二零一九年六月三十日之結餘

7,343

(6,051)

613,261

513,295

1,127,848

(34,765)

1,093,083

Attributable to owners of the Company

本公司擁有人應佔

(Unaudited)

（未經審核）

capital

Shares held

for the

Scheme

premium

Other

reserves

Sub-total

Non-

controlling

interests

Total

equity

股本

就計劃

持有之股份

股份溢價

其他儲備

小計

非控股權益

總權益

HK$』000

千港元

Balance at 1 January 2020

於二零二零年一月一日之結餘

7,343

(6,051)

613,261

553,863

1,168,416

(37,510)

1,130,906

Total comprehensive income/(loss)

for the period

期內全面收益╱（虧損）

總額

–

33,418

(901)

32,517

Transactions with owners,

in their capacity as owners

與擁有人進行之交易

（以擁有人身份）

Dividends relating to 2019

paid in 2020

於二零二零年支付

二零一九年之股息

–

(21,865)

–

(21,865)

Balance at 30 June 2020

於二零二零年六月三十日之結餘

7,343

(6,051)

613,261

565,416

1,179,969

(38,411)

1,141,558

Representing:

代表：

Share capital, shares held for the Scheme,

share premium and other reserves

股本、就計劃持有之股份、

股份溢價及其他儲備

1,172,626

Interim dividend proposed (Note 25)

建議中期股息（附註25）

7,343

1,179,969

Non-controlling interests

非控股權益

(38,411)

Balance at 30 June 2020

於二零二零年六月三十日之結餘

1,141,558

The above interim condensed consolidated statement of changes in

equity should be read in conjunction with the accompanying notes.

上述中期簡明綜合權益變動表應連同隨附之

附註一併閱覽。

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Cash flows from operating activities

經營活動之現金流量

Cash generated from operations

經營業務所得現金

64,071

129,897

Interests paid

已付利息

(1,558)

(1,593)

Income tax paid

已繳所得稅

(27,422)

(11,240)

Net cash generated from

operating activities

經營活動所得

現金淨額

35,091

117,064

Cash flows from investing activities

投資活動之現金流量

Purchase of property, plant and equipment

購入物業、廠房及設備

(54,184)

(61,428)

Purchase of intangible assets

購入無形資產

(502)

(526)

Proceeds from disposal of property,

plant and equipment

出售物業、廠房及

設備所得款項

339

957

Payment for business combination,

net of cash acquired

業務合併的付款，扣除

已收購的現金

–

(956)

Payment for equity investment

股本投資之付款

(550)

–

Interests received

已收利息

341

505

Short-term bank deposits with

maturity over 3 months

到期日超過三個月的

短期銀行存款

(2)

(3)

Net cash used in investing activities

投資活動所用現金淨額

(54,558)

(61,451)

Cash flows from financing activities

融資活動之現金流量

Proceeds from borrowings

借貸所得款項

78,845

46,970

Repayments of borrowings

償還借貸

(11,421)

(7,892)

Principal elements of lease payments

租賃付款之本金成份

(3,172)

(2,480)

Dividends paid to Company’s shareholders

已付本公司股東之股息

(21,857)

(36,286)

Proceeds from loans from

non-controlling interests

來自非控股權益貸款之

款項

–

100

Proceeds from exercise of share options

行使購股權所得款項

–

3,774

Net cash generated from

financing activities

融資活動所得

現金淨額

42,395

4,186

Net increase in cash and

cash equivalents

現金及現金等值項目

增加淨額

22,928

59,799

Cash and cash equivalents at

beginning of the period

期初之現金及現金

等值項目

348,849

272,478

Exchange (loss)/gain on cash and

cash equivalents

現金及現金等值項目之

匯兌（虧損）╱收益

(2,564)

334

Cash and cash equivalents at the

end of the period

期末之現金及現金

等值項目

369,213

332,611

The above interim condensed consolidated statement of cash flows

should be read in conjunction with the accompanying notes.

上述中期簡明綜合現金流量表應連同隨附之

附註一併閱覽。

1 GENERAL INFORMATION

Ming Fai International Holdings Limited (the 「Company」) is an

investment holding company. The subsidiaries of the Company

are principally engaged in manufacturing and trading of

hospitality supplies products, trading of operating supplies and

equipment and manufacturing and trading of health care and

hygienic products.

The Company was incorporated in the Cayman Islands on 29

May 2007 as an exempted company with limited liability under

the Companies Law (2007 Revision) of the Cayman Islands. Its

registered address is at the offices of M&C Corporate Services

Limited, P.O. Box 309GT, Ugland House, South Church Street,

George Town, Grand Cayman, Cayman Islands.

The Company has its primary listing on the Main Board of The

Stock Exchange of Hong Kong Limited (the 「Stock Exchange」).

This condensed consolidated interim financial information

is presented in thousands of units of Hong Kong dollars

(「HK$』000」), unless otherwise stated.

This condensed consolidated interim financial information was

approved for issue by the board of directors of the Company (the

「Board」) on 26 August 2020.

This condensed consolidated interim financial information has

not been audited.

Significant changes in the current reporting period

During the six months ended 30 June 2020, the outbreak of

the novel coronavirus (「COVID-19」) had posed unprecedent

challenges to the Group’s business and impacted the Group’s

Hospitality Supplies Business and Operating Supplies and

Equipment (「OS&E」) Business. In response, the Group has

expanded the production of its health care and hygienic

products, such as disinfectant spray products, alcoholic instant

hand sanitizers and 3-ply disposable face masks (Note 6).

2 BASIS OF PREPARATION

The condensed consolidated interim financial information is

for the Group consisting of the Company and its subsidiaries.

This condensed consolidated interim financial information

for the six months ended 30 June 2020 has been prepared in

accordance with Hong Kong Accounting Standard 34, 「Interim

Financial Reporting」 issued by the Hong Kong Institute of

Certified Public Accountants. This condensed consolidated

interim financial information does not include all the notes of

the type normally included in annual consolidated financial

statements. Accordingly, this condensed consolidated interim

financial information should be read in conjunction with the

annual consolidated financial statements for the year ended 31

December 2019, which have been prepared in accordance with

Hong Kong Financial Reporting Standards (「HKFRSs」).

1 一般資料

明輝國際控股有限公司（「本公司」）為

一間投資控股公司。本公司之附屬公司

主要從事製造及銷售酒店供應品類產

品、銷售營運用品及設備，以及製造及

銷售健康護理及衛生用品。

本公司根據開曼群島公司法（二零零七

年修訂版）於二零零七年五月二十九日

在開曼群島註冊成立為獲豁免有限責

任公司。其註冊地址為M&C Corporate

Services Limited, P.O. Box 309GT,

Ugland House, South Church Street,

George Town, Grand Cayman, Cayman

Islands的辦事處。

本公司於香港聯合交易所有限公司（聯

交所」）主板進行第一上市。

除另有說明外，此簡明綜合中期財務資

料以千港元（「千港元」）單位列值。

此簡明綜合中期財務資料已於二零二零

年八月二十六日獲本公司董事會（「董事

會」）批准刊發。

此簡明綜合中期財務資料乃未經審核。

本報告期間的重大變化

截至二零二零年六月三十日止六個月，

新型冠狀病毒（「COVID-19」）的爆發給

本集團的業務帶來前所未有的挑戰，並

影響本集團的酒店供應品業務與營運用

品及設備（「營運用品及設備」）業務。作

為應對，本集團已擴大其健康護理及衛

生用品的生產，如消毒噴霧產品、酒精

搓手液及三層一次性口罩（附註6）。

2 編製基準

簡明綜合中期財務資料由本集團（由本

公司及其附屬公司組成）編製。此截至

二零二零年六月三十日止六個月之簡明

綜合中期財務資料乃按香港會計師公會

頒佈之香港會計準則第34號「中期財務

報告」編製。此簡明綜合中期財務資料

並未包括年度綜合財務報表通常載列之

所有類別附註。因此，此簡明綜合中期

財務資料應連同根據香港財務報告準則

（「香港財務報告準則」）編製之截至二零

一九年十二月三十一日止年度之年度綜

合財務報表一併閱覽。

3 ACCOUNTING POLICIES

The accounting policies applied are consistent with those of the

annual consolidated financial statements for the year ended

31 December 2019, as described in those annual consolidated

financial statements, except for the estimation of income tax

and the adoption of new and amended standards as set out

below. Income tax expenses for the interim periods are accrued

using the tax rate that would be applicable to expected total

annual earnings.

Amended standards adopted by the Group

A number of amended standards became applicable for the

current reporting period and they did not have material impacts

on the Group. The Group did not have to change its accounting

policies or make retrospective adjustments as a result of

adopting these amendments.

Impact of new and amended standards issued

but not yet applied by the Group

Certain new and amended standards have been issued but

are not mandatory for application in the current reporting

period. The Group did not early adopt these new and amended

standards in the current reporting period and they are not

expected to have a material impact on the Group in the

current or future reporting periods and on foreseeable future

transactions.

4 ESTIMATES

The preparation of condensed consolidated interim financial

information requires management to make judgments, estimates

and assumptions that affect the application of accounting

policies and the reported amounts of assets and liabilities,

income and expenses. Actual results may differ from these

estimates.

In preparing this condensed consolidated interim financial

information, the significant judgments made by management

in applying the Group’s accounting policies and the key sources

of estimation uncertainty were the same as those that applied

to the consolidated financial statements for the year ended 31

December 2019.

5 FINANCIAL RISK MANAGEMENT

(a) Financial risk factors

The Group’s activities expose it to a variety of financial

risks: market risk (including foreign exchange risk, interest

rate risk and price risk), credit risk and liquidity risk.

The condensed consolidated interim financial information

does not include all financial risk management information

and disclosures required in the annual financial statements,

and should be read in conjunction with the Group’s annual

consolidated financial statements for the year ended 31

December 2019.

There has been no changes in the financial risk management

of the Group since year end.

3 會計政策

所應用的會計政策與截至二零一九年

十二月三十一日止年度之年度綜合財務

報表所應用者（載於該等年度綜合財務

報表）一致，惟所得稅估計及採納下文

所載之新訂及經修訂準則除外。中期期

間的所得稅開支乃使用應用於預期年度

盈利總額的稅率計算。

本集團採納之經修訂準則

多項經修訂準則於本報告期間可予應

用，並未對本集團造成重大影響。本集

團毋須因採納此等修訂而更改其會計政

策或作出追溯調整。

經已頒佈惟本集團尚未應用之

新訂及經修訂準則之影響

若干新訂及經修訂準則經已頒佈，惟並

非強制性應用於本報告期間。本集團於

本報告期間並無提早採納此等新訂及經

修訂準則，預期此等準則不會對本集團

於本報告期間或未來報告期間及可預見

未來交易造成重大影響。

4 估計

為編製簡明綜合中期財務資料，管理層

需作出影響會計政策應用、資產與負

債、收支之呈報數額的判斷、估計及假

設。實際結果可能與此等估計有異。

於編製此簡明綜合中期財務資料的過程

中，管理層在應用本集團會計政策及估

計不確定因素之主要來源時所作出之重

大判斷與截至二零一九年十二月三十一

日止年度之綜合財務報表所應用者相同。

5 財務風險管理

(a) 財務風險因素

本集團業務承受多種財務風險：市

場風險（包括外匯風險、利率風險

及價格風險）、信貸風險及流動資

金風險。

本簡明綜合中期財務資料並未包括

年度財務報表所需之所有財務風險

管理資料及披露事項，並應連同本

集團截至二零一九年十二月三十一

日止年度之年度綜合財務報表一併

閱讀。

自年末起，本集團之財務風險管理

並無任何變動。

5 FINANCIAL RISK MANAGEMENT (Continued)

(b) Liquidity risk

During the six months ended 30 June 2020, the Group further

drew down bank borrowings of US$3,000,000 (equivalent to

approximately HK$23,360,000), US$3,000,000 (equivalent

to approximately HK$23,360,000) and US$3,800,000

(equivalent to approximately HK$29,589,000). These facilities

bore interests at higher of 1.7% per annum over one-month

London Inter-bank Offered Rate (「LIBOR」) or the cost to

the bank of funding the borrowing; 1.7% per annum over

one-month LIBOR, and 1.5% per annum over one-month

LIBOR, respectively. These banking facilities were secured by

the Group’s assets with repayable on demand clauses.

The Group also drew down bank borrowings and other

borrowings amounted to JPY20,000,000 (equivalent

to approximately HK$1,439,000) and JPY15,250,000

(equivalent to approximately HK$1,097,000) at fixed

interest rates of 2.4% and 1.38% per annum, respectively.

These bank borrowings and other borrowing were secured

by personal guarantee of a non-controlling interest of the

Group.

The following table analyses the Group’s borrowings into

relevant maturity groupings based on the remaining period

at the balance sheet to the contractual maturity date.

The amounts disclosed in the tables are the contractual

undiscounted cash flows and the earliest date the Group

can be required to pay. Balances due within 12 months

equal their carrying balances, as the impact of discounting

is not significant.

Specifically, as at 30 June 2020, for borrowings which

contained repayment on demand clauses which could be

exercised at the banks』 sole discretion, the balances had

been reclassified as current liabilities. The analysis shows

the cash outflow based on earliest period in which the

Group can be required to pay, that is if the lender were

to invoke their unconditional rights to call the loans with

immediate effect (31 December 2019: same).

On Demand

Less than

1 year

Between 1

and 2 years

Between 2

and 5 years

Over 5 years

Total

按要求

1年以下

1至2年之間

2至5年之間

5年以上

總計

HK$』000

千港元

At 30 June 2020

(Unaudited)

於二零二零年六月三十日

（未經審核）

Borrowings

借貸：

– principal portion

－本金部分

129,516

1,074

654

686

1,339

133,269

At 31 December

2019 (Audited)

於二零一九年十二月

三十一日（經審核）

Borrowings

借貸：

– principal portion

－本金部分

64,778

525

420

700

–

66,423

The following table analyses the borrowings of the Group

into relevant maturity groupings based on the remaining

period at the end of the reporting period to the contractual

maturity date without taking into consideration the effect

of repayment on demand clauses, while interest payments

are computed using contractual rates.

5 財務風險管理（續）

(b) 流動資金風險

截至二零二零年六月三十日止

六個月內，本集團進一步提取

銀行借貸3,000,000美元（相當於

約23,360,000港元）、3,000,000

美元（相當於約 23,360,000港

元）及3,800,000美元（相當於約

29,589,000港元）。此等融資之利

息分別按一個月倫敦銀行同業拆息

率（「倫敦銀行同業拆息率」）加年

利率1.7%或銀行撥付融資成本之

較高者、一個月倫敦銀行同業拆息

率加年利率1.7%及一個月倫敦銀

行同業拆息率加年利率1.5%計息。

此等銀行融資以本集團的資產作抵

押，並具有按要求償還條款。

本集團亦分別按固定年利率2.4%

及1.38%提取銀行借貸及其他

借貸20,000,000日圓（相當於約

1,439,000港元）及15,250,000日圓

（相當於約1,097,000港元）。此等

銀行借貸及其他借貸乃由本集團非

控股權益的個人擔保作抵押。

下表載列根據資產負債表至合約到

期日的剩餘期限將本集團的借貸按

相關到期組別進行分析。下表內披

露的金額為合約未貼現現金流量及

本集團可能被要求付款的最早日

期。由於貼現的影響不大，於十二

個月內到期的結餘與其賬面值相等。

具體而言，於二零二零年六月三十

日，就包含須按要求償還條款（可

由銀行全權酌情決定行使）的借貸

而言，結餘已重新分類為流動負

債。該分析按本集團可能被要求

付款的最早期間（即貸款方倘即時

實行其無條件權利以要求還款）顯

示現金流出（二零一九年十二月

三十一日：相同）。

下表按照於報告期末至合約到期日

的餘下期間分析本集團分類至相關

到期組別的借貸，當中並無計及按

要求償還條款的影響，而利息付款

以合約利率計算。

5 FINANCIAL RISK MANAGEMENT (Continued)

(b) Liquidity risk (Continued)

Within

1 year

Between

1 and 2

years

Between

2 and 5

years

Over

5 years

Total

1年內

1至2年之間

2至5年之間

5年以上

總計

HK$』000

千港元

As at 30 June 2020

(Unaudited)

於二零二零年六月三十日

（未經審核）

Borrowings:

借貸：

– principal portion

－本金部分

55,839

25,382

50,077

1,971

133,269

– interest portion

－利息部分

1,902

1,325

1,335

4,629

57,741

26,707

51,412

2,038

137,898

As at 31 December 2019

(Audited)

於二零一九年十二月三十一日

（經審核）

Borrowings:

借貸：

– principal portion

－本金部分

17,511

15,819

31,181

1,912

66,423

– interest portion

－利息部分

2,049

1,480

1,467

5,030

19,560

17,299

32,648

1,946

71,453

The Group’s finance department includes a team that

performs the valuations of financial assets and financial

liabilities required for financial reporting purposes. As part

of the valuation process, this team reports directly to the

chief financial officer. External valuers will be engaged, if

necessary.

The different levels of the financial instruments have been

defined as follows:

. Quoted prices (unadjusted) in active markets for

identical assets or liabilities (level 1).

. Inputs other than quoted prices included within level

1 that are observable for the asset or liability, either

directly (that is, as prices) or indirectly (that is, derived

from prices) (level 2).

. Inputs for the asset or liability that are not based on

observable market data (that is, unobservable inputs)

(level 3).

The Group’s policy is to recognise transfers into and

transfers out of fair value hierarchy levels as of the date

of the event or change in circumstances that caused the

transfer. There were no transfers between Levels 1, 2 and 3

during the period.

Level 2 fair value of completed investment property has

been generally derived using the sale comparison approach.

Selling prices of comparable properties in close proximity

are adjusted for differences in key attributes such as

property size. The most significant input into this valuation

approach is price per square foot. There were no other

changes in valuation techniques during the period.

5 財務風險管理（續）

(b) 流動資金風險（續）

本集團財務部包括一隊就財務報告

進行所需金融資產及金融負債估值

的團隊。於估值過程中，此團隊直

接向首席財務官匯報，並於有需要

時委聘外部估值師。

財務工具的不同層級界定如下：

. 相同資產或負債於活躍市場

之報價（未經調整）（第一級）。

. 第一級所包括之報價以外的

資產或負債之可觀察直接（即

如價格）或間接（即源自價格）

輸入數據（第二級）。

. 並非基於可觀察市場數據（即

不可觀察輸入數據）的資產或

負債之輸入數據（第三級）。

本集團之政策乃於導致轉移之事件

或情況變化之發生日確認公平值層

級之轉入及轉出。於期內，第一、

二及三級之間概無轉移。

已竣工投資物業之第二級公平值一

般以銷售比較法計量。鄰近可資比

較物業的銷售價格因應物業規模等

主要因素的差異予以調整。此估值

方法最重要的輸入數據為每平方尺

的價格。於期內，估值方法並無其

他變動。

5 FINANCIAL RISK MANAGEMENT (Continued)

The fair values of the following financial assets and

liabilities approximate their carrying amounts:

. Other financial assets at amortised cost

. Amounts due from joint ventures

. Amount due from an associated company

. Trade and bills receivables

. Short-term bank deposits

. Cash and cash equivalents

. Borrowings

. Lease liabilities

. Trade payables

. Accruals and other payables

. Loans from non-controlling interests

. Dividends payable

6 SEGMENT INFORMATION

The chief operating decision-maker has been identified as the

Board. The Board reviews the Group’s internal reports in order

to assess performance and allocate resources. The Board has

determined the operating segments based on these reports.

The Group is principally engaged in manufacturing and trading

of hospitality supplies products, trading of operating supplies

and equipment, and manufacturing and trading of health care

and hygienic products. From a geographical perspective, the

Board assesses the performance based on the Group’s revenue

by geographical location in which the customer is located.

During the six months ended 30 June 2020, the Group switched

some of its production lines to produce alcoholic instant hand

sanitizers and commenced the production of 3-ply disposable

face masks in response to the outbreak of COVID-19. The Group

has also expanded its production of other health care and

hygienic products. Because of this, management has reviewed

its internal organisational structure to align more closely with

the Group’s strategic decision. In particular, Health Care and

Hygienic Products Business has been separately disclosed in the

management reporting. The Group has adopted a new reporting

format effective for the six months ended 30 June 2020, which

includes (i) Hospitality Supplies Business; (ii) OS&E Business;

and (iii) Health Care and Hygienic Products Business. The

comparative segment information has been restated to reflect

the new reporting format.

The Board assesses the performance of the operating segments

based on a measure of profit before income tax, share of profit/

(loss) of an associated company and share of losses of joint

ventures.

Information provided to the Board is measured in a manner

consistent with that of the condensed consolidated interim

financial information.

Sales between segments are carried out at normal commercial

terms. Depreciation and amortisation charges are apportioned

with reference to respective segment revenue from external

customers. Assets and liabilities of the Group are allocated by

reference to the principal markets in which the Group operates.

5 財務風險管理（續）

下列金融資產及負債之公平值與其

賬面值相若：

. 按攤銷成本列賬之其他金融

資產

. 應收合營企業款項

. 應收一間聯營公司款項

. 應收貿易賬款及票據

. 短期銀行存款

. 現金及現金等值項目

. 借貸

. 租賃負債

. 應付貿易賬款

. 應計費用及其他應付款項

. 來自非控股權益之貸款

. 應付股息

6 分類資料

董事會為主要營運決策者。董事會檢討

本集團之內部報告以評估業績及分配資

源。董事會基於此等報告確定經營分類。

本集團主要從事製造及銷售酒店供應品

類產品、銷售營運用品及設備，以及製

造及銷售健康護理及衛生用品。從地理

區域角度，董事會評估業績時會依據本

集團的客戶所在地區之收入來釐定。

截至二零二零年六月三十日止六個月，

本集團已調整其部分生產線生產酒精搓

手液及開始生產三層一次性口罩，以應

對COVID-19之爆發。本集團亦擴大其

他健康護理及衛生用品的生產。因此，

管理層檢討其內部組織架構，以更貼近

本集團的策略決定。特別是，健康護理

及衛生用品業務已於管理層報告內獨立

披露。本集團已採用新的報告格式，於

截至二零二零年六月三十日止六個月生

效，包括(i)酒店供應品業務；(ii)營運用

品及設備業務；及(iii)健康護理及衛生

用品業務。比較分類資料已重列以反映

新的報告格式。

董事會以未計所得稅前溢利、應佔一間

聯營公司溢利╱（虧損）及應佔合營企

業虧損為衡量基準來評估經營分類之表

現。

向董事會呈報的資料採用與簡明綜合中

期財務資料一致的方法計量。

分類間的銷售按一般商業條款進行。折

舊及攤銷費用乃參考來自外部客戶的各

分類收入予以分配。本集團的資產及負

債乃參照本集團所經營業務的主要市場

進行分配。

6 SEGMENT INFORMATION (Continued)

Geographical

Hospitality Supplies Business

OS&E Business

Health Care and Hygienic

Products Business

Others

酒店供應品業務

營運用品及設備業務

健康護理及衛生用品業務

其他

North

America

Europe

The

People’s

Republic

of China

(the

「PRC」)

The Hong

Kong Special

Administrative

Region of

the PRC

(「Hong

Kong」)

Australia

Other

Asia Pacific

regions

(Note (i))

Others

(Note (ii))

Sub-total

The PRC

Others

(Note (iii))

Sub-total

North

America

Hong

Kong

Others

(Note (iv))

Sub-total

Total

北美

歐洲

中華

人民共和國

（「中國」）

中國香港

特別

行政區

（「香港」）

澳洲

其他

亞太地區

（附註(i)）

其他

（附註(ii)）

小計

中國

其他

（附註(iii)）

小計

北美

香港

其他

（附註(iv)）

小計

總計

HK$』000

千港元

Six months ended 30 June 2020

(Unaudited)

截至二零二零年六月三十日止六個月

（未經審核）

Segment revenue

分類收入

72,496

54,036

109,436

89,097

8,207

65,037

1,222

399,531

26,656

20,393

47,049

54,857

49,818

149,571

254,246

–

700,826

Inter-segment revenue

分類間收入

–

(3,147)

(5,517)

–

(8,664)

–

(73)

–

(11)

–

(8,748)

Revenue from external customers

來自外部客戶的收入

72,496

54,036

106,289

83,580

8,207

65,037

1,222

390,867

26,656

20,320

46,976

54,857

49,818

149,560

254,235

–

692,078

Segment profit/(loss) before income tax

未計所得稅前分類溢利╱（虧損）

5,610

1,340

(7,276)

(488)

170

(1,182)

314

(1,512)

(187)

1,066

879

2,071

16,791

32,514

51,376

11,084

61,827

Share of profit of an associated company

應佔一間聯營公司溢利

211

Share of losses of joint ventures

應佔合營企業虧損

(37)

Income tax expenses

所得稅開支

(16,302)

Profit for the period

期內溢利

45,699

6 分類資料（續）

地區

6 SEGMENT INFORMATION (Continued)

Geographical (Continued)

Hospitality Supplies Business

OS&E Business

Health Care and Hygienic

Products Business

Others

酒店供應品業務

營運用品及設備業務

健康護理及衛生用品業務

其他

North

America

Europe

The PRC

Hong

Kong

Australia

Other

Asia Pacific

regions

(Note (i))

Others

(Note (ii))

Sub-total

The PRC

Others

(Note (iii))

Sub-total

North

America

Hong

Kong

Others

(Note (iv))

Sub-total

Total

北美

歐洲

中國

香港

澳洲

其他

亞太地區

（附註(i)）

其他

（附註(ii)）

小計

中國

其他

（附註(iii)）

小計

北美

香港

其他

（附註(iv)）

小計

總計

HK$』000

千港元

Six months ended 30 June 2019

(Unaudited) (restated)

截至二零一九年六月三十日止六個月

（未經審核）（經重列）

Segment revenue

分類收入

122,446

116,183

268,408

162,507

18,977

128,181

1,359

818,061

41,052

28,149

69,201

62,906

106

2,555

65,567

952,856

Inter-segment revenue

分類間收入

–

(834)

(89)

–

(923)

–

(81)

–

(1,004)

Revenue from external customers

來自外部客戶的收入

122,446

116,183

267,574

162,418

18,977

128,181

1,359

817,138

41,052

28,149

69,201

62,906

106

2,474

65,486

951,852

Segment profit/(loss) before income tax

未計所得稅前分類溢利╱（虧損）

10,695

9,404

11,909

8,539

1,669

5,364

250

47,830

107

423

530

1,887

(268)

(484)

1,135

1,402

50,897

Share of loss of an associated company

應佔一間聯營公司虧損

(63)

Share of losses of joint ventures

應佔合營企業虧損

(90)

Income tax expenses

所得稅開支

(16,041)

Profit for the period

期內溢利

34,703

6 分類資料（續）

地區（續）

6 SEGMENT INFORMATION (Continued)

Geographical (Continued)

Hospitality Supplies Business

OS&E Business

Health Care and Hygienic

Products Business

Others

酒店供應品業務

營運用品及設備業務

健康護理及衛生用品業務

其他

The PRC

Hong

Kong

Australia

Cambodia

Other

locations

(Note (v))

Sub-total

The PRC

Hong

Kong

Other

locations

(Note (v))

Sub-total

The PRC

Hong

Kong

Other

locations

(Note (vi))

Sub-total

Inter-

segment

elimination

Total

中國

香港

澳洲

柬埔寨

其他地區

（附註(v)）

小計

中國

香港

其他地區

（附註(v)）

小計

中國

香港

其他地區

（附註(vi)）

小計

分類

間抵銷

總計

HK$』000

千港元

As at 30 June 2020 (Unaudited)

於二零二零年六月三十日（未經審核）

Total assets

資產總額

814,402

567,056

1,486

279,644

65,922

1,728,510

81,971

30,317

1,303

113,591

21,696

68,531

3,950

94,177

56,718

(259,380)

1,733,616

As at 31 December 2019

(Audited) (restated)

於二零一九年十二月三十一日

（經審核）（經重列）

Total assets

資產總額

929,028

615,299

2,378

233,915

70,888

1,851,508

79,952

39,076

391

119,419

8,347

38,241

–

46,588

26,471

(205,041)

1,838,945

Notes:

(i)

Other Asia Pacific regions mainly include the Macau Special

Administrative Region of the PRC (「Macau」), Japan, United Arab

Emirates, Thailand, the Philippines, Malaysia, Singapore and India.

(ii)

Others mainly include Morocco and Algeria.

(iii)

Others mainly include Hong Kong, Macau and Cambodia.

(iv)

Others mainly include the PRC, Australia, Japan and Singapore.

(v)

Other locations mainly include Macau and Singapore.

(vi)

Other locations mainly include the PRC, Australia and Japan.

6 分類資料（續）

地區（續）

附註：

(i) 其他亞太地區主要包括中國澳門特別行政

區（「澳門」）、日本、阿拉伯聯合大公國、

泰國、菲律賓、馬來西亞、新加坡及印度。

(ii) 其他主要包括摩洛哥及阿爾及利亞。

(iii) 其他主要包括香港、澳門及柬埔寨。

(iv) 其他主要包括中國、澳洲、日本及新加坡。

(v) 其他地區主要包括澳門及新加坡。

(vi) 其他地區主要包括中國、澳洲及日本。

7 PROPERTY, PLANT AND EQUIPMENT

(Unaudited)

（未經審核）

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Net book value as at 1 January

於一月一日之賬面淨值

400,631

320,173

Additions

添置

58,362

62,114

Additions due to business

combination

因業務合併

而添置

–

341

Disposals

出售

(485)

(1,078)

Depreciation (Note 20)

折舊（附註20）

(23,328)

(21,863)

Exchange differences

匯兌差額

(4,367)

(294)

Net book value as at 30 June

於六月三十日之賬面淨值

430,813

359,393

As at 30 June 2020, certain property, plant and equipment with

an aggregate carrying value of approximately HK$25,909,000

(31 December 2019: approximately HK$27,678,000) were

pledged as securities for banking facilities of the Group (Note

18).

8 RIGHT-OF-USE ASSETS AND LEASE

LIABILITIES

The interim condensed consolidated balance sheet shows the

following amounts related to leases:

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$』000

千港元

Right-of-use assets

使用權資產

Office premises

辦公室物業

90,990

93,744

Factory Buildings

廠房樓宇

12,015

13,897

Warehouse

倉庫

344

1,051

103,349

108,692

Lease liabilities

租賃負債

Current

流動

3,643

5,208

Non-current

非流動

1,727

2,929

5,370

8,137

As at 30 June 2020, certain right-of-use assets with an

aggregate carrying value of approximately HK$30,640,000 (31

December 2019: approximately HK$31,233,000) were pledged

as securities for banking facilities of the Group (Note 18).

7 物業、廠房及設備

於二零二零年六月三十日，總賬面值

約25,909,000港元（二零一九年十二月

三十一日：約27,678,000港元）之若幹

物業、廠房及設備予以抵押，作為本集

團銀行融資之抵押（附註18）。

8 使用權資產及租賃負債

中期簡明綜合資產負債表列示以下與租

賃相關的金額：

於二零二零年六月三十日，總賬面淨值

約30,640,000港元（二零一九年十二月

三十一日：約31,233,000港元）之若幹

使用權資產予以抵押，作為本集團銀行

融資之抵押（附註18）。

9 INVESTMENT PROPERTY

(Unaudited)

（未經審核）

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Net book value as at 1 January

於一月一日之賬面淨值

13,707

14,005

Exchange differences

匯兌差額

(245)

(12)

Net book value as at 30 June

於六月三十日之賬面淨值

13,462

13,993

Independent valuation of the Group’s investment property was

performed by the valuer, Asset Appraisal Limited, to determine

the fair value of the investment property as at 31 December

2019. As at 30 June 2020, the directors of the Company

considered that the carrying amount of the Group’s investment

property, which is carried at revalued amount, does not differ

significantly from its fair value at the balance sheet date.

The fair value measurement information for the investment

property in accordance with HKFRS 13 is given below:

(a) Fair value hierarchy

Fair value measurements

at 30 June 2020 using

於二零二零年六月三十日

公平值計量所使用

Quoted price

in active

markets for

identical assets

(Level 1)

Significant

other

observable

inputs

(Level 2)

Significant

unobservable

inputs

(Level 3)

相同資產

於活躍

市場的報價

（第一級）

其他重要的

可觀察

輸入數據

（第二級）

重要的

不可觀察

輸入數據

（第三級）

HK$』000

千港元

Recurring fair value measurements:

經常性公平值計量：

Investment property

投資物業

–

13,462

–

9 投資物業

本集團投資物業已由估值師中誠達資產

評值顧問有限公司進行獨立估值，以釐

定投資物業於二零一九年十二月三十一

日之公平值。於二零二零年六月三十

日，本公司董事認為，本集團按重估金

額入賬的投資物業的賬面值與結算日的

公平值沒有重大差異。

根據香港財務報告準則第13號之投資物

業之公平值計量資料載列如下：

(a) 公平值層級

9 INVESTMENT PROPERTY (Continued)

(a) Fair value hierarchy (Continued)

Fair value measurements

at 31 December 2019 using

於二零一九年十二月三十一日

公平值計量所使用

Quoted price

in active

markets for

identical assets

(Level 1)

Significant

other

observable

inputs

(Level 2)

Significant

unobservable

inputs

(Level 3)

相同資產

於活躍

市場的報價

（第一級）

其他重要的

可觀察

輸入數據

（第二級）

重要的

不可觀察

輸入數據

（第三級）

HK$』000

千港元

Recurring fair value measurements:

經常性公平值計量：

Investment property

投資物業

–

13,707

–

The Group’s policy is to recognise transfer into and transfer

out of fair value hierarchy levels as of the date of the event

or change in circumstances that caused the transfer. There

were no transfers between Level 1, 2 and 3 during the

period.

Level 2 fair value of completed investment property

has been generally derived using the sales comparison

approach. Selling prices of comparable properties in close

proximity are adjusted for differences in key attributes

such as property size. The most significant input into this

valuation approach is price per square foot.

(b) Details of the investment property:

Address of investment property

Existing use

Tenure

投資物業之地址

目前用途

租賃期

Room 101, Chuntian Garden, No. 6,

Lane 999, Loushanguan Road,

Changning District, Shanghai City,

the PRC

30 June 2020: Rental

(31 December 2019: Rental)

The property is held

under long-term lease

中國上海市長寧區婁山關路999裡6號

春天花園101室

二零二零年六月三十日：租賃

（二零一九年十二月三十一日：租賃）

物業乃根據長期租賃

持有

9 投資物業（續）

(a) 公平值層級（續）

本集團之政策為於導致轉移之事件

或情況變化發生之日確認公平值層

級之轉入及轉出。於期內，第一、

二及三級之間概無轉移。

已竣工投資物業之第二級公平值一

般以銷售比較法計量。鄰近可資比

較物業的銷售價格因應物業規模等

主要因素的差異予以調整。此估值

方法最重要的輸入數據為每平方尺

的價格。

(b) 投資物業之詳情：

10 GOODWILL

(Unaudited)

（未經審核）

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Net book value as at 1 January

於一月一日之賬面淨值

10,354

5,413

Addition due to business

combination

因業務合併

而添置

–

4,974

Exchange differences

匯兌差額

(12)

Net book value as at 30 June

於六月三十日之賬面淨值

10,413

10,375

11 INTANGIBLE ASSETS

(Unaudited)

（未經審核）

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Net book value as at 1 January

於一月一日之賬面淨值

1,512

2,598

Additions

添置

502

526

Addition due to business

combination

因業務合併

而添置

–

Amortisation (Note 20)

攤銷（附註20）

(768)

(1,078)

Exchange differences

匯兌差額

(1)

Net book value as at 30 June

於六月三十日之賬面淨值

1,245

2,084

10 商譽

11 無形資產

12 TRADE AND BILLS RECEIVABLES

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$』000

千港元

Trade receivables

應收貿易賬款

493,338

613,655

Bills receivables

應收票據

1,485

4,624

494,823

618,279

Less: provision for impairment

of receivables

減：應收款項

減值撥備

(34,874)

(26,530)

Trade and bills receivables, net

應收貿易賬款及票據淨額

459,949

591,749

The credit period granted by the Group ranges from 15 days to

120 days.

Ageing analysis of trade and bills receivables by invoice date is

as follows:

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$』000

千港元

1 – 30 days

1至30日

142,598

324,893

31 – 60 days

31至60日

57,920

121,237

61 – 90 days

61至90日

73,297

69,635

91 – 180 days

91至180日

134,092

49,675

Over 180 days

180日以上

86,916

52,839

494,823

618,279

12 應收貿易賬款及票據

本集團所授予的信貸期介乎15日至

120日。

應收貿易賬款及票據按發票日期的賬齡

分析如下：

13 AMOUNT DUE FROM AN ASSOCIATED

COMPANY

The amount represents trade receivables from an associated

company. The carrying value of the amount approximates its fair

value. The credit period granted is 90 days. The ageing analysis

of amount by invoice date is as follows:

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$』000

千港元

1 – 30 days

1至30日

3,981

2,123

31 – 60 days

31至60日

1,149

1,691

61 – 90 days

61至90日

563

1,232

Over 90 days

90日以上

–

5,728

5,046

14 SHORT-TERM BANK DEPOSITS

As at 30 June 2020, short-term bank deposits of approximately

HK$279,000 (31 December 2019: approximately HK$295,000)

represented bank deposits of the Group with original maturity

over three months and were denominated in India Rupee.

15 CASH AND CASH EQUIVALENTS

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$』000

千港元

Cash at banks and on hand

銀行結餘及現金

300,255

308,169

Short-term bank deposits

( original maturities of

less than three months)

短期銀行存款

（原到期日

少於三個月）

68,958

40,680

369,213

348,849

The Group’s cash and bank balances and short-term bank

deposits as at 30 June 2020 amounted to approximately

HK$122,997,000 (31 December 2019: approximately

HK$105,489,000) and approximately HK$590,000 (31 December

2019: approximately HK$1,447,000) were deposited with banks

in the PRC and India respectively, where the remittance of funds

was subject to foreign exchange control.

13 應收一間聯營公司款項

該款項為應收一間聯營公司的貿易賬

款。該款項之賬面值與其公平值相若。

授予的信貸期為90日。該款項按發票日

期的賬齡分析如下：

14 短期銀行存款

於二零二零年六月三十日，短期銀行存

款約279,000港元（二零一九年十二月

三十一日：約295,000港元）為原到期日

超過三個月以印度盧比計值之本集團銀

行存款。

15 現金及現金等值項目

於二零二零年六月三十日，本集團之

現金及銀行結餘及短期銀行存款約

122,997,000港元（二零一九年十二月

三十一日：約105,489,000港元）及約

590,000港元（二零一九年十二月三十一

日：約1,447,000港元）分別存於中國及

印度的銀行，資金匯款受外匯管制規限。

16 SHARE CAPITAL

Number of shares

HK$』000

股份數目

千港元

Ordinary shares of HK$0.01 each

每股面值0.01港元之普通股

Authorised:

法定：

At 1 January 2019,

30 June 2019,

1 January 2020 and

30 June 2020

於二零一九年一月一日、

二零一九年六月三十日、

二零二零年一月一日及

二零二零年六月三十日

10,000,000,000

100,000

Issued and fully paid:

已發行及繳足：

At 1 January 2020 and

30 June 2020

於二零二零年一月一日及

二零二零年六月三十日

734,262,697

7,343

At 1 January 2019

於二零一九年一月一日

728,175,697

7,282

Exercise of share options

行使購股權

6,087,000

At 30 June 2019

於二零一九年六月三十日

734,262,697

7,343

17 SHARE-BASED PAYMENT COMPENSATION

(a) Share options

As at 30 June 2020, 3,408,000 share options (31 December

2019: 3,408,000 share options) were outstanding and all

of them are exercisable (31 December 2019: same). Among

the outstanding share options, 2,846,000 (31 December

2019: 2,846,000) and 562,000 (31 December 2019:

562,000) share options will lapse on 9 September 2021 and

4 September 2022, respectively.

During the six months ended 30 June 2020, no share

option was exercised. During the six months ended 30 June

2019, 6,087,000 share options were exercised at proceeds

of approximately HK$3,774,000. Share options exercised

during the six months ended 30 June 2019 were issued at

a weighted average exercise price of HK$0.62 per share.

The related weighted average closing price at the time

of exercise for the six months ended 30 June 2019 was

HK$1.10 per share.

16 股本

17 以股份支付的酬金

(a) 購股權

於二零二零年六月三十日，

3,408,000份購股權（二零一九年

十二月三十一日：3,408,000份購

股權）尚未行使，且全部均可予

行使（二零一九年十二月三十一

日：相同）。在尚未行使購股權

中，2,846,000份（二零一九年

十二月三十一日：2,846,000份）

及562,000份（二零一九年十二月

三十一日：562,000份）購股權將

分別於二零二一年九月九日及二零

二二年九月四日失效。

截至二零二零年六月三十日止六

個月，概無行使購股權。截至二

零一九年六月三十日止六個月，

6,087,000份購股權已行使，所得

款項約3,774,000港元。截至二零

一九年六月三十日止六個月內行使

之購股權乃按加權平均行使價每股

0.62港元發行。截至二零一九年六

月三十日止六個月，行使時之相關

加權平均收市價為每股1.10港元。

17 SHARE-BASED PAYMENT COMPENSATION

(Continued)

(a) Share options (Continued)

During the six months ended 30 June 2020, no share

option was lapsed and forfeited (six months ended 30 June

2019: 883,000 share options were lapsed and no share

option was forfeited).

As all the share options were fully vested in prior years, no

share-based payment expense was recognised during the

six months ended 30 June 2020 (six months ended 30 June

2019: Nil).

(b) Shares award

On 23 September 2016, the Company has adopted the

Scheme, to (i) recognise the contributions by employees,

directors, consultants or advisers of or to the Group (the

「Eligible Persons」); and (ii) offer suitable incentives to

attract and retain targeted talent and personnel for the

continuance of operations and future development of the

Group. Subject to the rules as set under the Scheme, the

Board may at its absolute discretion to elect any Eligible

Persons to participate in the Scheme (the 「Selected

Persons」) and to award the Company’s shares (the

「Awarded Shares」) to these Selected Persons, subject to

vesting conditions, if any. These Awarded Shares will be

transferred to the Selected Persons upon their fulfillment of

all relevant vesting conditions.

In connection with the implementation of the Scheme, the

Group has signed a trust deed with an independent third

party to act as the trustee (the 「Trustee」) to hold certain

shares on behalf of the Group and the Selected Persons

before these Awarded Shares are granted and/or vested.

The Group may from time to time instruct the Trustee to

purchase the Company’s shares from the market on the

Stock Exchange and to hold them in trust for the benefit of

the Selected Persons.

During the six months ended 30 June 2020, no shares were

purchased by the Group for the Scheme (six months ended

30 June 2019: same). No shares were granted to Eligible

Persons under the Scheme during the six months ended 30

June 2020 (six months ended 30 June 2019: same).

17 以股份支付的酬金

（續）

(a) 購股權（續）

截至二零二零年六月三十日止六個

月，概無購股權失效及被沒收（截

至二零一九年六月三十日止六個

月：883,000份購股權已失效及概

無購股權被沒收）。

由於所有購股權均已於過往年度

獲悉數歸屬，截至二零二零年六月

三十日止六個月概無確認以股份

支付的開支（截至二零一九年六月

三十日止六個月：無）。

(b) 股份獎勵

於二零一六年九月二十三日，本公

司已採納計劃，以(i)肯定本集團的

僱員、董事、諮詢人或顧問（「合資

格人士」）對本集團所作出的貢獻；

及(ii)提供適當獎勵以吸引及挽留目

標人才及人員以讓本集團持續經

營及發展未來。受限於計劃所載規

則，董事會可全權酌情挑選任何合

資格人士參與計劃（「獲選人士」）

及向此等獲選人士授出本公司股份

（「獎勵股份」），惟須遵守歸屬條件

（如有）。此等獎勵股份將於所有相

關歸屬條件獲履行時轉讓至獲選人

士。

就執行計劃而言，本集團已與獨立

第三方（作為受託人（「受託人」）簽

訂信託契據，於此等獎勵股份獲授

出及╱或歸屬前，代表本集團及獲

選人士持有若干股份。本集團或不

時指示受託人在聯交所市場購買本

公司股份，並以獲選人士利益為依

歸以信託持有有關股份。

截至二零二零年六月三十日止六

個月，本集團概無就計劃購買股

份（截至二零一九年六月三十日止

六個月：相同）。截至二零二零年

六月三十日止六個月，概無股份根

據計劃向合資格人士授出（截至二

零一九年六月三十日止六個月：相

同）。

18 BORROWINGS

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$』000

千港元

Non-current:

非流動：

Secured bank borrowings without

repayable on demand clause

並無按要求償還條款之

有抵押銀行借貸

736

405

Secured other borrowings without

repayable on demand clause

並無按要求償還條款之

有抵押其他借貸

1,943

715

2,679

1,120

Current:

流動：

Secured bank borrowings with

repayable on demand clauses

具有按要求償還條款之

有抵押銀行借貸

129,516

64,779

Secured bank borrowings without

repayable on demand clause

並無按要求償還條款之

有抵押銀行借貸

1,074

292

Secured other borrowing without

repayable on demand clause

並無按要求償還條款之

有抵押其他借貸

–

232

130,590

65,303

133,269

66,423

Except for bank and other borrowings of approximately

HK$3,753,000 as at 30 June 2020 (31 December 2019:

approximately HK$1,644,000), which were secured by personal

guarantee of a non-controlling interest of the Group, borrowings

were secured by certain property, plant and equipment and

right-of-use assets.

The carrying amounts of assets pledged as security for

borrowings are as follow:

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$』000

千港元

Property, plant and equipment

物業、廠房及設備

25,909

27,678

Right-of-use assets

使用權資產

30,640

31,233

Total carrying amount of assets

pledged as security

已抵押資產之

賬面總額

56,549

58,911

As at 30 June 2020, the undrawn banking facilities of the Group

amounted to approximately HK$273,752,000 (31 December

2019: approximately HK$309,545,000).

18 借貸

除於二零二零年六月三十日的銀行及

其他借貸約3,753,000港元（二零一九年

十二月三十一日：約1,644,000港元）以

本集團非控股權益之個人擔保作抵押

外，借貸均以若干物業、廠房及設備及

使用權資產作抵押。

就借貸之已抵押資產之賬面值如下：

於二零二零年六月三十日，本集團

未提取之銀行融資約273,752,000港

元（二零一九年十二月三十一日：約

309,545,000港元）。

19 TRADE PAYABLES

The ageing analysis of trade payables by invoice date is as

follows:

(Unaudited)

(Audited)

（未經審核）

（經審核）

30 June 2020

31 December 2019

二零二零年

六月三十日

二零一九年

十二月三十一日

HK$』000

千港元

1 – 30 days

1至30日

77,448

211,455

31 – 60 days

31至60日

11,481

8,037

61 – 90 days

61至90日

15,495

5,172

Over 90 days

90日以上

19,281

1,766

123,705

226,430

20 EXPENSES BY NATURE

The following expenses are included in cost of sales, distribution

costs, administrative expenses and net impairment losses on

financial assets:

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Changes in inventories

存貨變動

317,902

513,349

Auditor’s remuneration

核數師酬金

1,650

Depreciation of property, plant and

equipment

物業、廠房及設備的

折舊

23,328

21,863

Depreciation of right-of-use assets

使用權資產的折舊

4,604

4,019

Amortisation of intangible assets

無形資產的攤銷

768

1,078

Other lease expenses (Note (i))

其他租賃費用（附註(i)）

3,141

6,036

Provision for obsolete inventories (Note (ii))

陳舊存貨的撥備（附註(ii)）

12,563

7,596

Direct written off of obsolete inventories

直接撇銷陳舊存貨

401

442

Net impairment losses on financial assets

(Note (iii))

金融資產減值虧損淨額

（附註(iii)）

9,311

694

Employee benefit expenses

僱員福利開支

178,170

219,217

Transportation expenses

運輸費用

27,261

37,668

Exchange loss, net

匯兌虧損淨額

7,631

5,531

Advertising costs

廣告成本

3,371

8,108

Loss on disposal of property, plant and

equipment

出售物業、廠房及

設備的虧損

146

124

Notes:

(i) These expenses relate to short-term leases. They are directly charged as

expenses and are not included in the measurement of lease liabilities

under HKFRS 16 Leases.

(ii) Provision for obsolete inventories of approximately HK$12,563,000

has been made during the six months ended 30 June 2020 (six months

ended 30 June 2019: approximately HK$7,596,000), after considering

their physical condition, market demand and historical usage of those

inventories.

(iii) The amounts represent the net impairment losses on trade receivables

from customers, after assessing their balances individually and

collectively, taking into account the nature of the customers, their

geographical locations and their ageing categories.

19 應付貿易賬款

應付貿易賬款按發票日期的賬齡分析

如下：

20 按性質呈列之開支

計入銷售成本、分銷成本及行政開支及

金融資產減值虧損淨額內的開支列述如

下：

附註：

(i) 此等開支與短期租賃有關。此等金額直接

計入開支，並不會在香港財務報告準則第

16號租賃下計量為租賃負債。

(ii) 截至二零二零年六月三十日止六個月

內，經考慮存貨的實際狀況、市場需求及

過往使用情況後，已就陳舊存貨作出約

12,563,000港元的撥備（截至二零一九年

六月三十日止六個月：約7,596,000港元）。

(iii) 該等款項指經個別及集體評估客戶的應收

貿易賬款結餘，並考慮到客戶的性質、其

地理位置及賬齡類別後，就客戶的應收貿

易賬款作出的減值虧損淨額。

21 OTHER INCOME

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Rental income

租金收入

152

191

Income from sales of scrap materials

銷售廢料收入

461

893

Government grants (Note (i))

政府補貼（附註(i)）

8,538

5,163

Gain/(loss) on dissolution

of a subsidiary (Note (ii))

解散一間附屬公司之

收益╱（虧損）（附註(ii)）

8,201

(67)

Others

其他

286

228

17,638

6,408

Notes:

(i) Government grants recognised were primarily related to the capital

investments of the Group; refund of unemployment insurance from the

PRC Government and subsidies from the Hong Kong Government under

the Anti-epidemic Fund. There were no unfulfilled conditions and other

contingencies attached to the receipts of those grants.

(ii) The Group completed the dissolution of a subsidiary during the six

months ended 30 June 2020 and recognised a gain of approximately

HK$8,201,000 in the interim condensed statement of comprehensive

income, including reclassification of cumulative currency translation

difference of approximately HK$6,490,000.

22 FINANCE INCOME AND FINANCE COSTS

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Finance costs on borrowings

借貸之財務成本

(1,387)

(1,349)

Less: amount capitalised on

qualifying assets

減：就合資格資產撥充

資本金額

–

686

(1,387)

(663)

Interest expenses on lease liabilities

租賃負債之利息開支

(171)

(244)

Finance costs

財務成本

(1,558)

(907)

Finance income

財務收入

341

505

Finance costs, net

財務成本淨額

(1,217)

(402)

21 其他收入

附註：

(i) 已確認之政府補貼主要與本集團之資本性

投資、來自中國政府之失業保險退還及香

港政府根據防疫抗疫基金之補貼有關。收

取該等補貼並無附帶未達成條件及其他或

然事件。

(ii) 本集團於截至二零二零年六月三十日止

六個月完成解散一間附屬公司，並於中

期簡明全面收益表確認收益約8,201,000

港元，包括重新分類累計貨幣換算差額約

6,490,000港元。

22 財務收入及財務成本

23 INCOME TAX EXPENSES

The amount of income tax charged/(credited) to the interim

condensed consolidated statement of comprehensive income

represents:

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Current income tax:

即期所得稅：

– Hong Kong profits tax

－香港利得稅

13,316

8,922

– PRC enterprise income tax

－中國企業所得稅

3,826

6,848

– Other overseas profits tax

－其他海外利得稅

160

271

17,302

16,041

Deferred income tax

遞延所得稅

(1,000)

–

16,302

16,041

Taxation has been provided at the appropriate rates prevailing in

the countries in which the Group operates.

Hong Kong profits tax, PRC enterprise income tax, Singapore

corporate income tax and Cambodia corporate income tax were

calculated at 16.5% (for the six months ended 30 June 2019:

16.5%), 25% (for the six months ended 30 June 2019: 25%),

17% (for the six months ended 30 June 2019: 17%) and 20%

(for the six months ended 30 June 2019: 20%), respectively on

the estimated assessable profits for the six months ended 30

June 2020.

Taxes on other overseas profits have been calculated at the rates

of tax prevailing in the jurisdictions in which the Group operates,

based on existing legislation, interpretations and practices in

respect thereof.

24 EARNINGS PER SHARE

(a) Basic

Basic earnings per share attributable to owners of the

Company is calculated by dividing the profit for the period

attributable to owners of the Company by the weighted

average number of ordinary shares in issue during the period.

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

Profit for the period attributable to

owners of the Company (HK$』000)

本公司擁有人應佔期內

溢利（千港元）

47,211

37,457

Weighted average number of

ordinary shares in issue (thousands)

已發行普通股加權

平均數（千股）

728,839

724,949

Basic earnings per share

attributable to owners of

the Company (HK cents)

本公司擁有人應佔

每股基本盈利

（港仙）

6.5

5.2

23 所得稅開支

於中期簡明綜合全面收益表扣除╱（撥

回）的所得稅金額為︰

稅項乃按本集團經營所在國家通用的適

用稅率計提撥備。

香港利得稅、中國企業所得稅、新加坡企

業所得稅及柬埔寨企業所得稅乃按照截

至二零二零年六月三十日止六個月估計

應課稅溢利分別以16.5%（截至二零一九

年六月三十日止六個月：16.5%）、25%

（截至二零一九年六月三十日止六個月：

25%）、17%（截至二零一九年六月三十

日止六個月：17%）及20%（截至二零

一九年六月三十日止六個月：20%）計算。

其他海外溢利之稅項乃按本集團經營所

在司法權區之當前稅率根據當地現行法

例、詮釋及慣例計算。

24 每股盈利

(a) 基本

本公司擁有人應佔每股基本盈利以

本公司擁有人應佔期內溢利除以期

內已發行普通股之加權平均數計算。

24 EARNINGS PER SHARE (Continued)

(b) Diluted

Diluted earnings per share attributable to owners of

the Company is calculated by adjusting the weighted

average number of ordinary shares outstanding to assume

conversion of all dilutive potential ordinary shares. The

Company has share options as dilutive potential shares. A

calculation was done to determine the number of shares

that could have been acquired at fair value (determined

as the average annual market price of the shares) based

on the monetary value of the subscription rights attached

to the outstanding share options. The number of shares

calculated as above was compared with the number of

shares that would have been issued assuming the exercise

of the share options.

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

Profit for the period attributable to

owners of the Company (HK$』000)

本公司擁有人應佔期內

溢利（千港元）

47,211

37,457

Weighted average number of

ordinary shares in issue (thousands)

已發行普通股加權

平均數（千股）

728,839

724,949

Adjustment for:

調整：

– Share options (thousands)

－購股權（千份）

709

3,372

Weighted average number of

ordinary shares for diluted earnings

per share (thousands)

每股攤薄盈利

普通股的

加權平均數（千股）

729,548

728,321

Diluted earnings per share

attributable to owners of

the Company (HK cents)

本公司擁有人應佔

每股攤薄盈利

（港仙）

6.5

5.1

24 每股盈利（續）

(b) 攤薄

本公司擁有人應佔每股攤薄盈利以

假設所有可攤薄的潛在普通股被兌

換後，調整已發行普通股的加權平

均數計算。本公司之購股權屬可攤

薄的潛在股份。計算方法為根據尚

未行使購股權所附的認購權的貨幣

價值，釐定按公平值（釐定為股份

的平均全年市場價格）可購入的股

份數目。按以上方式計算的股份數

目，與假設購股權獲行使而應發行

的股份數目作出比較。

25 DIVIDENDS

On 27 May 2020, a final dividend of HK3.0 cents per share

for the year ended 31 December 2019 was approved by the

Company’s shareholders. Total dividend of approximately

HK$22,028,000, including dividend to the shares held for the

Scheme, was paid out during the six months ended 30 June

2020.

The Board has resolved to pay an interim dividend of HK1.0

cent per share, amounting to a total dividend of approximately

HK$7,343,000, in respect of the six months ended 30 June

2020 (for the six months ended 30 June 2019: HK1.5 cents

per share, amounting to a total dividend of approximately

HK$11,014,000).

26 CAPITAL COMMITMENTS

As at 30 June 2020, the capital commitments contracted but

not provided for in the condensed consolidated interim financial

information of the Group were approximately HK$14,526,000

(31 December 2019: approximately HK$45,406,000).

27 RELATED PARTY TRANSACTIONS

Related parties are those parties that have the ability to control

the other party or exercise significant influence in making

financial and operating decisions. Parties are also considered to

be related if they are subject to common control.

The ultimate controlling parties of the Group are Mr. CHING Chi

Fai, Mr. CHING Chi Keung, Mr. LIU Zigang and Ms. CHAN Yim

Ching.

(a) Significant related party transactions

The Group has carried out significant transactions with the

following related parties:

Name of related party

Principal business activity

Relationship with the Group

關聯方姓名╱名稱

主要業務活動

與本集團之關係

Ming Fai Plastic Industrial Company

(「MF Plastic」)

Manufacturing of plastic

products (Ceased

manufacturing of plastic

products since April 2003)

Partnership owned by Mr. CHING

Chi Fai, Mr. YEUNG Tin Loi and

Mr. CHING Chi Keung

明輝塑膠實業公司

（「明輝塑膠」）

製造塑膠產品（自二零零三年

四月起終止製造塑膠產品）

由程志輝先生、楊天來先生及

程志強先生所擁有的合夥企業

Quality Amenities Supply (M)

Sdn. Bhd. (「QASM」)

Trading of hospitality supplies

products and operating

supplies and equipment

Associated company of the Group

Quality Amenities Supply (M)

Sdn. Bhd. (「QASM」)

銷售酒店供應品類產品及

營運用品及設備

本集團的聯營公司

iBridge Technology (Shenzhen)

Limited (「iBridge Technology」)

Provision of information

technology services

Joint venture of the Group

恩博哲科技（深圳）有限公司

（「恩博哲科技」）

提供資訊科技服務

本集團的合營企業

25 股息

於二零二零年五月二十七日，本公司股

東已批准截至二零一九年十二月三十一

日止年度每股3.0港仙之末期股息。股

息總額約22,028,000港元（包括就計劃

持有股份之股息）已於截至二零二零年

六月三十日止之六個月內派發。

董事會議決就截至二零二零年六月三十

日止六個月派發中期股息每股1.0港仙，

股息總額約7,343,000港元（截至二零

一九年六月三十日止六個月：每股1.5

港仙，股息總額約11,014,000港元）。

26 資本承擔

於二零二零年六月三十日，本集團已訂

約惟並未於簡明綜合中期財務資料內撥

備之資本承擔約14,526,000港元（二零

一九年十二月三十一日：約45,406,000

港元）。

27 關聯方交易

倘任何一方能控制另一方，或於其財政

及經營決策上行使重大影響力，即為關

聯方。受到共同控制的有關方亦被考慮

為關聯方。

本集團之最終控制方為程志輝先生、程

志強先生、劉子剛先生及陳艷清女士。

(a) 重大關聯方交易

本集團曾與以下關聯方進行重大

交易：

27 RELATED PARTY TRANSACTIONS (Continued)

(a) Significant related party transactions

(Continued)

In addition to those disclosed elsewhere in the condensed

consolidated interim financial information, the following is

a summary of significant related party transactions between

the Group and its related parties.

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

HK$』000

千港元

(i) Sales of goods

(i) 銷售貨品

– to QASM

－予QASM

6,205

7,016

– to iBridge Technology

－予恩博哲科技

(ii) Purchase of goods

(ii) 購買貨品

– from iBridge Technology

－自恩博哲科技

(iii) Rental charged

(iii) 下方收取之租金

– by MF Plastic

－明輝塑膠

632

665

Sales of goods are transacted at prices mutually agreed

between the parties.

Purchases of goods and services and transacted at prices

mutually agreed between parties.

The Group leased certain properties from MF Plastic as

one of its production bases in the PRC. The transaction is

carried out at prices mutually agreed between the relevant

parties.

(b) Key management compensation

(Unaudited)

（未經審核）

Six months ended 30 June

截至六月三十日止六個月

2020

2019

二零二零年

二零一九年

HK$』000

千港元

Basic salaries, housing allowances,

other allowances and

benefits-in-kind

底薪、住房津貼、

其他津貼及

非金錢利益

3,119

3,276

Contributions to pension plans

退休金計劃供款

3,168

3,332

27 關聯方交易（續）

(a) 重大關聯方交易（續）

除於簡明綜合中期財務資料其他部

分所披露者外，本集團與其關聯方

之重大關聯方交易概要如下。

銷售貨品乃按訂約方之間相互協定

的價格進行交易。

購買貨品及服務乃按訂約方之間相

互協定的價格進行交易。

本集團從明輝塑膠租賃若干物業作

為其於中國的其中一個生產基地。

交易乃按有關各方之間相互協定的

價格進行。

(b) 主要管理人員酬金

　中財網

[HK]明輝國際:中期報告2020

[HK]明輝國際:中期報告2020

相關焦點

[HK]靄華押業信貸:2020 中期報告

[HK]金輪天地控股:2020 中期報告

[HK]今海國際:二零二零年中期報告

[HK]C-LINK SQ:2020 中期報告

[HK]開源控股:中期報告2020

[HK]亞洲資源:中期報告2020/2021

[HK]華科資本:中期報告 2020/2021

[HK]安保工程控股:中期報告 2020/2021

[HK]現恆建築:二零二零年中期報告

[HK]IBI GROUP HLDGS:中期報告2020/2021

[HK]中國再生醫學:2020中期報告

國際會計準則第34號-中期財務報告

中國建築首次發布英文版《2020年中期報告》

[HK]天任集團:2020年中期報告

[HK]中信銀行:2020年中期報告

[HK]興勝創建:2020/2021中期報告

[HK]永義國際:2019中期業績報告

[HK]匯聚科技:中期報告 2019/2020

[HK]自然美:二零二零年中期報告

以全球投資者需求為導向中國建築首次發布英文版《2020年中期報告》

[HK]明輝國際:中期報告2020

[HK]明輝國際:中期報告2020

相關焦點

[HK]靄華押業信貸:2020 中期報告

[HK]金輪天地控股:2020 中期報告

[HK]今海國際:二零二零年中期報告

[HK]C-LINK SQ:2020 中期報告

[HK]開源控股:中期報告2020

[HK]亞洲資源:中期報告2020/2021

[HK]華科資本:中期報告 2020/2021

[HK]安保工程控股:中期報告 2020/2021

[HK]現恆建築:二零二零年中期報告

[HK]IBI GROUP HLDGS:中期報告2020/2021

[HK]中國再生醫學:2020中期報告

國際會計準則第34號-中期財務報告

中國建築首次發布英文版《2020年中期報告》

[HK]天任集團:2020年中期報告

[HK]中信銀行:2020年中期報告

[HK]興勝創建:2020/2021中期報告

[HK]永義國際:2019中期業績報告

[HK]匯聚科技:中期報告 2019/2020

[HK]自然美:二零二零年中期報告

以全球投資者需求為導向 中國建築首次發布英文版《2020年中期報告》

以全球投資者需求為導向中國建築首次發布英文版《2020年中期報告》