Tradelink 2018 Annual Report

05 二零一八年年報 貿易通電子貿易有限公司 Chairman’s Statement 主席報告書 Dear Shareholders, Review While the global economy in 2018 remained close to post crisis high, the growth significantly slowed down towards the latter part of the second half year. The deteriorating market sentiment reflected major global concerns over the continuing trade conflicts between China and the United States. As these two countries are Hong Kong’s two biggest trade markets, the trade tensions between them inevitably weighted on the Hong Kong economy which saw the slowest quarterly growth in the third quarter in two years. In spite of the unsettled operating environment during the year and particularly in the second half year, I am pleased to report that the Group performed remarkably in 2018. Our revenue and after tax profits both recorded double-digit growth, to the extent even more than the growth in the first half of the year. The Group’s revenue in 2018 at HK$271.9 million was up 12.4% compared to the HK$241.8 million recorded in 2017. Though our interest income and other net income together dropped slightly to HK$15.6 million, taking into account our total costs at HK$182.7 million, which was 10.1% higher than in 2017, our operating profit in 2018 at HK$104.8 million was still up by 11.3% compared to the HK$94.2 million in 2017. As I mentioned in the 2018 Interim Report of the Group, during the first half year, we completely disposed of the impaired corporate bond in our other financial assets for which an exceptional impairment loss of HK$8.2 million was recorded in 2017. Without such a sizeable impairment loss this year, we made only a small provision for potential impairment loss for the portfolio of corporate bond holdings according to the new accounting standard, and that plus only a slight reduction of the share of our PRC results, our before tax profits increased by 20.2% from HK$88.3 million in 2017 to HK$106.2 million in 2018. Taking into account the recognition of the deferred tax charge arising from utilization of the unused tax losses of Digital Trade and Transportation Network Limited (“DTTNCo”), the Group’s after tax profit for 2018 was HK$89.8 million, up by an impressive 21.1% year-on-year, compared to the after tax profit of HK$74.1 million for 2017. 致各位股東： 回顧 儘管環球經濟於二零一八年仍然接近危機後高 位，但增長速度於下半年後期顯著放緩。不斷惡 化的市場氣氛反映環球市場極之關注持續的中美 貿易衝突。由於這兩個國家為香港的最大貿易市 場，兩者之間的貿易緊張關係無可避免地影響了 香港的經濟，令第三季出現兩年內的最緩慢按季 增長步伐。儘管本年度尤其下半年的經營環境不 穩定，本人欣然報告本集團於二零一八年的表現 非常優異，我們的收益及除稅後溢利均錄得雙位 數字增長，幅度甚至超過本年度上半年的增長情 況。 本集團於二零一八年的收益為港幣 271,900,000 元，較二零一七年錄得的港幣 241,800,000 元上升 12.4% 。雖然我們的利息收入及其他收益淨額合 計微跌至港幣 15,600,000 元，但計入我們的成本 總 額 港 幣 182,700,000 元（較 二 零 一 七 年 上 升 10.1% ），我們於二零一八年的經營溢利港幣 104,800,000 元仍較二零一七年的港幣 94,200,000 元上升 11.3% 。如本人於二零一八年中期報告所 述，本集團已在本年度上半年內完全出售於我們 的其他財務資產內的已減值企業債券，而有關債 券於二零一七年錄得特殊減值虧損港幣 8,200,000 元。於本年度並無如此顯著的減值虧損，但我們 只須根據新會計準則就持有的企業債券組合的潛 在減值虧損作出小量撥備；連同分佔我們的中國 業務業績輕微減少，我們的除稅前溢利較二零 一 七 年 的 港 幣 88,300,000 元 上 升 20.2% 至 二 零 一八年的港幣 106,200,000 元。計及使用來自確認 數碼貿易運輸網絡有限公司（「 DTTNCo 」）未動用 稅項虧損所產生的遞延稅項支出，本集團於二零 一八年的除稅後溢利為港幣 89,800,000 元，較二 零一七年的除稅後溢利港幣 74,100,000 元錄得按 年可觀升幅 21.1% 。