21
二零一七年年報
貿易通電子貿易有限公司
Management Discussion and Analysis
(Continued)
管理層討論及分析
(續)
Financial Review (Continued)
The Group’s operating expenses before depreciation in 2017 was
HK$159.7 million, a year-on-year increase of 0.8% or HK$1.3 million
from HK$158.4 million in 2016. Staff costs increased from HK$103.1
million to HK$105.6 million, up by 2.5% or HK$2.5 million as compared
to last year. The amount of cost of purchases rose HK$4.7 million from
HK$18.6 million in 2016 to HK$23.3 million in 2017. This was due to
the increase in volume and thus costs of security tokens delivered for
our major bank client and the completion of biometric authentication
solutions and other projects of the Security Solutions segment. The other
operating costs at HK$30.9 million incurred this year were lower than
the amount at HK$36.8 million last year by HK$5.9 million. The decrease
was mainly due to our effective cost control coupled with the increase in
foreign exchange gain by HK$2.9 million from the US dollar-
denominated financial assets held during this year compared to that of
2016. Depreciation charges this year amounted to HK$6.3 million,
HK$0.4 million lower than last year.
The Group’s profit from operations for the year of 2017 was HK$94.2
million, an increase of HK$2.2 million or 2.4% as compared to 2016.
During the year of 2017, the Group recorded an impairment loss of
HK$8.2 million as a result of decline in the market value of a corporate
bond in our investment in other financial assets held during the year.
Half of that corporate bond was disposed of during the second half of
2017 to lower the exposure.
The share of results in 2017 from PRC associates was a profit of HK$2.4
million as compared to the share of net loss in 2016 at HK$10.6 million.
The swing was HK$13.0 million. Nanfang’s results improved during 2017
after the settlement of their historical legal case in 2016. There was an
increase in cost due to a change in the estimated useful lives of the
intangible assets at Nanfang in the second half of 2017, thus reducing
our share of profit from this associate by HK$1.3 million. As a result, the
share of profit in 2017 from this associate was just slightly higher than
the profit of HK$2.2 million shared for the 2017 interim period. For
U-Link, our PRC associate operating 4PL business in Shanghai, we no
longer shared its results this year. The loss shared from U-Link in 2016
was HK$7.4 million.
Our wholly-owned subsidiary, DTTNCo, recorded a deferred tax credit of
HK$8.9 million during 2016 upon the recognition of deferred tax assets.
As DTTNCo continued to grow in revenue and generate profit, a
deferred tax charge of HK$2.1 million was recognised during 2017. This
is the major reason for the increase in taxation expense by HK$12.1
million year-on-year.
財務回顧(續)
本集團的折舊前經營開支於二零一七年為港幣
159,700,000
元,自二零一六年港幣
158,400,000
元按年增加
0.8%
或港幣
1,300,000
元。與去年相
比,僱員成本由港幣
103,100,000
元上漲
2.5%
或港
幣
2,500,000
元至港幣
105,600,000
元。採購成本金
額 自 二 零 一 六 年 港 幣
18,600,000
元 上 升 港 幣
4,700,000
元至二零一七年港幣
23,300,000
元。此
乃由於向主要銀行客戶交付更多保安編碼器而使
成本增加,加上保安方案分部的生物認證解決方
案及其他項目完成所致。本年度產生之其他經營
成 本 為 港 幣
30,900,000
元,較 去 年 的 港 幣
36,800,000
元減少港幣
5,900,000
元。此跌幅之主
要原因為成本監控收得效益,加上年內持有以美
元計值之財務資產的外匯收益較二零一六年增加
港 幣
2,900,000
元。本 年 度 折 舊 開 支 為 港 幣
6,300,000
元,較去年減少港幣
400,000
元。
本集團二零一七年經營溢利為港幣
94,200,000
元,較二零一六年增加港幣
2,200,000
元或
2.4%
。
於二零一七年年度,本集團錄得減值虧損港幣
8,200,000
元,乃由於年內持有的其他財務資產投
資項下的一間公司債券市值下跌所致。於二零
一七年下半年,已出售一半該公司債券,務求降
低風險。
應佔中國聯營公司業績於二零一七年為溢利港幣
2,400,000
元,而二零一六年則為應佔淨虧損港幣
10,600,000
元。差額為港幣
13,000,000
元。於二零
一六年就過往法律案件解決後,南方二零一七年
的業績得以改善。由於南方無形資產預期使用年
期於二零一七年下半年有所改變,導致成本上
漲,從而使我們應佔此聯營公司的溢利減少港幣
1,300,000
元。因此,二零一七年分佔此聯營公司
的 溢 利 僅 較 二 零 一 七 年 中 期 應 佔 溢 利 港 幣
2,200,000
元略增。就我們在上海提供第四方物流
服務之中國聯營公司上海匯通而言,我們於本年
度不再分佔其業績。二零一六年,應佔上海匯通
虧損為港幣
7,400,000
元。
我們的全資附屬公司
DTTNCo
確認遞延稅項資產
後,於 二 零 一 六 年 錄 得 遞 延 稅 項 抵 免 港 幣
8,900,000
元。由於
DTTNCo
的收益持續增長且產
生溢利,於二零一七年確認遞延稅項支出港幣
2,100,000
元。此 乃 稅 項 開 支 按 年 增 加 港 幣
12,100,000
元的主要原因。