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Tradelink Electronic Commerce Limited
貿易通電子貿易有限公司
140
Notes to the Financial Statements
財務報表附註
26 Financial risk management and fair values
(continued)
(c) Interest rate risk
The Group’s interest rate risk arises primarily from investments
in fixed income debt securities
(Note 18)
and floating rate bank
balances, which expose the Group to fair value interest rate risk and
cash flow interest rate risk.
Sensitivity analysis
At 31 December 2016, it is estimated that a general increase/
decrease of 50 basis points in interest rates, with all other variables
held constant, would increase/decrease the Group’s profit after
tax and retained profits by approximately HK$218,000 (2015:
HK$390,000). The fair value reserve in the consolidated equity
would decrease/increase by approximately HK$6,007,000 (2015:
HK$3,425,000) in response.
The sensitivity analysis above indicates the instantaneous change
in the Group’s consolidated equity that would arise assuming that
the change in interest rates had occurred at the end of the reporting
period and had been applied to re-measure those fixed income debt
securities held by the Group which expose the Group to fair value
interest rate risk at the end of the reporting period. In respect of
the exposure to cash flow interest rate risk arising from floating rate
bank balances held by the Group at the end of the reporting period,
the impact on the Group’s profit after tax (and retained profits) is
estimated as an annualised impact on interest income of such a
change in interest rates. The analysis is performed on the same
basis for 2015 for cash flow interest rate risk.
(d) Foreign currency risk
The Group is exposed to foreign currency risk primarily through
available-for-sale debt securities denominated in United States
dollars and investments in PRC incorporated entities. Given the fact
that the exchange rates of United States dollars and Hong Kong
dollars are currently pegged, management does not expect that there
will be any significant currency risk associated with the investment
in available-for-sale debt securities denominated in United States
dollars. The Group has not hedged the foreign exchange exposure in
relation to its investments in PRC incorporated entities.
26
財務風險管理及公允價值（續）
(c)
利率風險
本集團的利率風險主要來自其於固定收入債務證
券的投資
（附註
18
）
及浮息銀行結餘，其令本集團
須承受公允價值利率風險及現金流量利率風險
敏感度分析
於二零一六年十二月三十一日，據本集團估計，
如利率整體上調╱下調
50
個基點，而所有其他不
定因素維持不變，將令本集團的除稅後溢利及保
留溢利增加╱減少約港幣
218,000
元（二零一五
年：港幣
390,000
元）。綜合權益內的公允價值儲
備將因利率整體上調╱下調而減少╱增加約港幣
6,007,000
元（二零一五年：港幣
3,425,000
元）。
上述敏感度分析指出本集團的綜合權益可能產生
的即時變動。敏感度分析假設利率變動於報告期
末已經發生，並已用於重新計量本集團所持有並
於報告期末使本集團面臨公允價值利率風險的固
定收入債務證券。對於由本集團於報告期末所持
有的浮息銀行結餘所產生的現金流量利率風險，
其對本集團除稅後溢利（及保留溢利）的影響是基
於利率變動而產生的利息收入作估計。有關分析
按二零一五年的現金流量利率風險分析的相同基
準進行。
(d)
外匯風險
本集團的外匯風險主要源自以美元計值的可供出
售債務證券及於國內的股權投資。鑒於現時美元
及港元匯率掛鈎，管理層預期以美元計值的可供
出售債務證券投資不會附帶任何重大匯率風險。
就本集團於國內的股權投資而言，本集團並無對
沖相關外匯風險。