貿易通2020 年中報

13 貿易通電子貿易有限公司  二零二零年中期報告 Management Discussion and Analysis (Continued) 管理層討論及分析 （續） 於二零二零年六月三十日，非流動及流動資產中的其他 財務資產分別為港幣 118,100,000 元（二零一九年十二月 三十一日：港幣 279,100,000 元）及港幣 65,700,000 元（二 零一九年十二月三十一日：港幣 38,500,000 元）。以上為 對單一企業債券及債券基金之投資，金額合共港幣 183,800,000 元，詳情如下： (i) 於二零二零年六月三十日，本集團持有港幣 176,100,000 元，並各自投資於任何單一發行人面 值不超過 3,000,000 美元於五年內到期的定息美元 計值企業債券。於二零二零年六月三十日，加權 平均組合債券票面利率及孳息率分別約為 4.5% （二 零一九年十二月三十一日： 4.1% ）及 4.2% （二零 一九年十二月三十一日： 3.8% ）。於二零二零年 六月三十日，總額的 61% （二零一九年十二月 三十一日： 65% ）投資於投資級別企業債券，而餘 下 39% （二零一九年十二月三十一日： 35% ）則投 資於非投資級別或沒有評級的企業債券。於二零 二零年六月三十日持有的所有企業債券均可於公 開市場交易。 (ii) 本集團持有金額為港幣 7,700,000 元的債券基金， 該債券基金持有超過 70 項平均屬投資級別的債務 證券，於五年內到期。於二零二零年六月底到期 孳息率為 5.68% 。 為平衡風險與回報，債務證券之所有投資均按照本公司 董事會批准之投資指引進行。於確定任何獲得新業務之 機會前，現金盈餘存放於債務證券中，作為我們財務營 運一部分，以提高本集團現金盈餘收益率。 於二零二零年六月三十日，本集團資產總值及資產淨值 分別為港幣 551,700,000 元（二零一九年十二月三十一日： 港幣 592,300,000 元）及港幣 339,600,000 元（二零一九年 十二月三十一日：港幣 370,900,000 元）。 於二零二零年六月三十日，本集團並無借貸（二零一九年 十二月三十一日：無）。 資本與儲備 於二零二零年六月三十日，股東應佔資本及儲備為港幣 339,600,000 元（二 零 一 九 年 十 二 月 三 十 一 日：港 幣 370,900,000 元），較二零一九年年底減少港幣 31,300,000 元。 資產抵押及或有負債 於二零二零年六月三十日，本集團向政府提供三項合共 港幣 2,200,000 元之銀行擔保（二零一九年十二月三十一 日：兩項港幣合共 2,100,000 元之銀行擔保），確保本集團 妥善履行與政府訂立之合約條款。銀行擔保以押記存款 合共港幣 2,200,000 元（二零一九年十二月三十一日：港幣 2,100,000 元）作為抵押。 除上述者外，本集團並無任何其他資產抵押。 The other financial assets as at 30 June 2020 in the non-current and current assets amounted to HK$118.1 million (31 December 2019: HK$279.1 million) and HK$65.7 million (31 December 2019: HK$38.5 million) respectively. These were a total of HK$183.8 million investments in single corporate bonds and a bond fund with the details as below: (i) As at 30 June 2020, the Group held HK$176.1 million fixed income USD- denominated corporate bonds with no more than US$3 million nominal value each invested in any single issuer with maturity dates less than five years. The weighted average of the portfolio bonds coupon and yield as at 30 June 2020 were about 4.5% (31 December 2019: 4.1%) and 4.2% (31 December 2019: 3.8%) respectively. As at 30 June 2020, 61% (31 December 2019: 65%) of the total amount was invested in investment grade corporate bonds. The remaining 39% (31 December 2019: 35%) was invested in non-investment grade or non-rated corporate bonds. All corporate bonds held as at 30 June 2020 were tradable in open market. (ii) The Group held a bond fund amounting to HK$7.7 million which holds over 70 debt securities of investment grade on average with maturity dates less than five years. The yield to maturity was 5.68% as at the end June 2020. To balance risk and return, all investments in debt securities were made in accordance with the investment guidelines which had been approved by the Board of the Company. Before any opportunities are identified to acquire new businesses, the cash surplus is parked in debt securities as part of our treasury operations to improve the yield of the Group’s cash surpluses. Total assets and net assets of the Group as at 30 June 2020 amounted to HK$551.7 million (31 December 2019: HK$592.3 million) and HK$339.6 million (31 December 2019: HK$370.9 million) respectively. As at 30 June 2020, the Group had no borrowings. (31 December 2019: Nil). Capital and Reserves As at 30 June 2020, the capital and reserves attributable to shareholders was HK$339.6 million (31 December 2019: HK$370.9 million), a reduction of HK$31.3 million from the end of 2019. Charges on Assets and Contingent Liabilities As at 30 June 2020, the Group has obtained three bank guarantees totaling HK$2.2 million (31 December 2019: two bank guarantees totaling HK$2.1 million) issued to the Government for the due performance by the Group pursuant to the terms of the contracts with the Government. The bank guarantees are secured by a charge over deposits totaling HK$2.2 million (31 December 2019: HK$2.1 million). Other than the foregoing, the Group did not have any other charges on its assets.