164
Tradelink Electronic Commerce Limited
Annual Report 2017
Notes to the Financial Statements
(Continued)
財務報表附註
(續)
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
於二零一七年十二月三十一日,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
151,000
元(二零一六年:
港幣
218,000
元)。綜合權益內的公允價
值 儲 備 將 因 而 減 少 ╱ 增 加 約 港 幣
5,657,000
元(二 零 一 六 年:港 幣
6,007,000
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
零一六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中國註冊成立
實體的投資。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。就本集團於中國註冊成立實體的
投資而言,本集團並無對沖相關外匯風
險。
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 2017, 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$151,000 (2016: HK$218,000). The fair value reserve in the
consolidated equity would decrease/increase by approximately
HK$5,657,000 (2016: HK$6,007,000) 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 2016 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.