6月30日，截至港股收盘，恒生指数下跌0.87%，报24072.28点。中华国际（01064.HK）收报0.042港元/ 股，上涨16.67%，成交量10万股，成交额4200港元，振幅0.0%。 资料显示，中华国际控股有限公司为一间投资控股公司。其附属公司主要于中国大陆从事物业发展、投 资及管理业务,并拥有两项主要物业权益,一项位于重庆市及另一项位于广州市。本集团主要於中国内地 从事物业投资及管理业务。本集团亦持续探索「新质生产力」相关项目的投资及业务拓展机会。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 来源：金融界 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，地产行业市盈率（TTM）平均值为5.42倍，行业中值-0.16倍。中华国际市盈率-0.6倍， 行业排名第191位；其他百仕达控股(新)（01168.HK）为0.48倍、百仕达控股(旧)（02983.HK）为0.49 倍、恒达集团控股（03616.HK）为1.71倍、中国新城市（01321.HK）为2.22倍、瑞森生活服务 （01922.HK）为2.82倍。 最近一个月来，中华国际累计跌幅1 ...

Financial Performance - The company reported a revenue of HKD 28,520,000 for the year ending December 31, 2024, compared to HKD 28,363,000 in 2023, indicating a slight increase of 0.55%[10] - The net loss attributable to ordinary shareholders was HKD 46,133,000 for 2024, a significant reduction from HKD 482,140,000 in 2023[10] - Adjusted EBITDA for the year was HKD 1,612,000, down from HKD 6,060,000 in the previous year, reflecting a decline of approximately 73%[11] - The pre-tax loss for the year was HKD 71,354,000, a substantial decrease from HKD 1,739,488,000 in 2023, while the post-tax loss was HKD 78,668,000 compared to HKD 1,849,358,000 in the prior year[12] - Cash and bank balances as of December 31, 2024, were HKD 63,573,000, down from HKD 90,761,000 in 2023[15] - Total assets were valued at HKD 1,403,511,000, a decrease from HKD 1,496,606,000 in 2023, representing a decline of approximately 6.2%[17] - The company held significant investments with a fair value of HKD 974,673,000, accounting for about 70% of total assets, down from 69% in 2023[19] - Operating cash flow for the year was a net outflow of HKD 15,967,000, a decline from a net inflow of HKD 24,263,000 in 2023[13] Legal and Regulatory Matters - The Guangdong High Court revoked the previous liquidation rejection ruling, indicating significant shareholder disputes and recommending an orderly exit through liquidation procedures[38] - The new liquidation decision was made in August 2023, appointing a new liquidation team, but the court has not yet provided necessary documents related to the liquidation process[41] - As of September 2024, the new liquidation team declared the company seal invalid, which Guangzhou Zhengda disputes, asserting that the new team lacks the authority to do so[42] - The company has taken legal actions against the Guangdong High Court's decisions, with ongoing appeals and administrative actions to resolve disputes[45] - The independent auditor's report expressed a qualified opinion regarding the uncertainty in the distribution of remaining assets from the liquidation process of Guangzhou Zhengda[193] - The group has undergone a lengthy liquidation application process for Guangzhou Zhengda, with the final court ruling mandating its liquidation[193] - The group has faced potential legal risks regarding the distribution of remaining assets due to claims from partners based on past asset contributions[194] Corporate Governance - The board does not recommend the distribution of a final dividend for the year ending December 31, 2024[25] - The board believes that regular meetings with the audit committee enhance constructive and efficient management of action plans[129] - The board acknowledges its responsibility for preparing financial statements that accurately reflect the group's performance and cash flow for the year ending December 31, 2024[142] - The independent directors have confirmed their independence as of the report date[73] - The board consists of 5 members, including 1 executive director and 3 independent non-executive directors, all serving for over 10 years[113] - The board's composition exceeds the governance code's independence requirements, with more than one-third being independent non-executive directors[115] - The company has adopted a standard code of conduct for securities trading, ensuring compliance throughout the accounting period[122] - The company has established various communication channels with shareholders, including the annual general meeting and published announcements on the stock exchange and company website[152] Employee and Workplace Matters - The total employee cost for the year was HKD 7,506,000, an increase from HKD 7,055,000 in the previous year, with the number of employees rising from 20 to 23[56] - The company has 23 employees, primarily Han Chinese, with a low turnover rate, indicating a stable workforce[176] - The company provides additional employee benefits such as paid maternity leave, paternity leave, and professional training, despite not being competitive with larger corporations[176] - Health and safety measures are prioritized, with regular fire drills and compliance with relevant laws and regulations[179] - No work-related fatalities or serious incidents occurred during the reporting period[180] Environmental, Social, and Governance (ESG) Initiatives - The board is responsible for identifying environmental, social, and governance (ESG) risks and ensuring effective risk management and internal controls[155] - Management is committed to responsible business operations, aiming to minimize environmental impact and reduce carbon footprint[161] - The group has implemented energy-saving measures, including replacing most fluorescent and incandescent bulbs with LED lighting in Chongqing[162] - Management recognizes that climate change poses operational risks, including extreme weather events that could impact business operations[169] - The group has established a natural disaster emergency response plan to address acute physical risks from extreme weather events[173] Future Plans and Developments - The group plans to develop a 22-story multifunctional commercial complex in Guangzhou, with a total construction area of approximately 234,000 square meters, expected to take about four years to complete[29] - The first phase of the Guangzhou development project is anticipated to be completed by the end of 2028, with the second phase by the first quarter of 2030[29] - The group continues to explore investment and business development opportunities related to "new quality productivity" projects[26] Audit and Financial Reporting - The audit committee approved the statutory audit scope and fees for Ernst & Young, amounting to HKD 2,500,000 for the year ending December 31, 2024[144] - The independent auditor confirmed compliance with Hong Kong Financial Reporting Standards (HKFRS) in the preparation of the financial statements[192] - The independent auditor's report highlighted key audit matters, including the fair value estimation of investment properties[199] Shareholder Relations - The board emphasizes the importance of timely communication with shareholders and encourages attendance at the annual general meeting[147] - The company has adopted a shareholder communication policy to ensure shareholders receive comprehensive and understandable information[152]

Financial Performance - The total revenue for the year ended December 31, 2024, was HKD 28,520,000, representing a slight increase of 0.55% from HKD 28,363,000 in 2023[2] - The company reported a pre-tax loss of HKD 71,354,000 for 2024, significantly improved from a pre-tax loss of HKD 1,739,488,000 in 2023[2] - The annual loss for 2024 was HKD 78,668,000, a substantial reduction compared to the annual loss of HKD 1,849,358,000 in 2023[2] - The basic and diluted loss per share for the year was HKD 0.0600, an improvement from HKD 0.6273 in 2023[3] - The group reported a significant pre-tax loss of HKD 71,354,000 in 2024, a decrease from a pre-tax loss of HKD 1,739,488,000 in 2023, indicating an improvement in financial performance[16] - The group recorded a total annual loss of HKD 78,668,000 in 2024, compared to a loss of HKD 1,849,358,000 in 2023, showing a substantial reduction in losses[16] - The basic loss per share for the year was HKD 46,133,000, a significant improvement from HKD 482,140,000 in 2023[23] - The group’s deferred tax expense for the year was HKD 3,446,000, a decrease from HKD 104,756,000 in 2023, reflecting a reduction in tax liabilities[19] Asset and Liability Management - The company's total assets less current liabilities amounted to HKD 1,337,709,000 as of December 31, 2024, down from HKD 1,433,408,000 in 2023[7] - Non-current assets totaled HKD 1,317,420,000 in 2024, a decrease from HKD 1,403,623,000 in 2023[7] - The net asset value as of December 31, 2024, was HKD 978,126,000, compared to HKD 1,063,099,000 in 2023[7] - The group's total assets decreased to HKD 1,403,511,000 in 2024 from HKD 1,496,606,000 in 2023, representing a decline of approximately 6.21%[16] - The group's total liabilities slightly decreased to HKD 425,385,000 in 2024 from HKD 433,507,000 in 2023, indicating improved financial stability[16] - The group's total assets amounted to HKD 1,403,511,000, a decrease from HKD 1,496,606,000 in 2023, while net assets were HKD 978,126,000, down from HKD 1,063,099,000[44] Cash Flow and Liquidity - The company reported a cash and cash equivalents balance of HKD 63,573,000 as of December 31, 2024, down from HKD 90,761,000 in 2023[7] - Cash flow from operating activities turned from a net inflow of HKD 24,263,000 in 2023 to a net outflow of HKD 15,967,000 in 2024, primarily due to timing differences in trade receivables[41] - As of December 31, 2024, the group's cash and bank balance was HKD 63,573,000, down from HKD 90,761,000 in 2023[42] Investment Properties - The fair value change of investment properties resulted in a loss of HKD 16,848,000 in 2024, compared to a loss of HKD 52,304,000 in 2023[2] - The fair value loss on investment properties was HKD 16,848,000 in 2024, down from HKD 52,304,000 in 2023, indicating a positive trend in property valuation[19] - The group experienced a decrease in fair value losses on investment properties from HKD 52,304,000 in 2023 to HKD 16,848,000 in 2024[40] Corporate Governance and Compliance - The company has complied with the corporate governance code as outlined in the listing rules throughout the year[78] - The audit committee has reviewed the annual performance data, which has been verified by the independent auditor, Ernst & Young[82] - The preliminary performance data for the year ending December 31, 2024, is consistent with the consolidated financial statements[82] - The company will publish its annual report, containing all required information, on its website and the Hong Kong Stock Exchange website[84] Legal and Regulatory Matters - The group lost control over Guangzhou Zhengda due to a court-ordered liquidation in May 2023, leading to its deconsolidation[31] - Legal actions regarding the distribution of remaining assets from Guangzhou Zhengda's liquidation are still pending, creating uncertainty[32] - The group anticipates potential legal risks related to claims from partners regarding the distribution of remaining assets from Guangzhou Zhengda[34] - The Guangzhou Intermediate Court rejected the liquidation petition from Yuefang Private Enterprise in May 2021, citing significant disputes regarding the company's dissolution and assets[62] - In May 2023, the Guangdong High Court revoked the previous rejection of the liquidation petition, indicating that the company should undergo an orderly exit through liquidation due to management deadlock[64] - A new liquidation decision was made in August 2023, appointing Guangdong Jinzhen Law Firm as the new liquidation team for Guangzhou Zhengda[66] - Hong Kong Zhengda has filed an appeal to the Guangdong High Court following the revocation of the liquidation rejection, with the case still pending[70] Future Plans and Opportunities - The group plans to develop a 22-story multifunctional commercial complex in Guangzhou, with a total construction area of approximately 234,000 square meters, expected to be completed in two phases by 2030[56] - The company has signed a new extension agreement on June 24, 2024, extending the deadline for a significant acquisition to June 30, 2026, aiming to reach revised terms[73] - The acquisition is expected to be funded through a combination of debt financing, equity financing, bank loans, and private equity funds[73] - The group continues to explore investment opportunities related to "new productive forces" in mainland China[53] Market Outlook - The board is optimistic about the domestic economy in mainland China stabilizing in the second half of the year, supported by government measures to boost foreign direct investment (FDI)[77] - The Hong Kong government is expected to push for the city to become a regional hub for family offices and AI businesses, which may create new economic opportunities[77]

ZHONG HUA INTERNATIONAL HOLDINGS LIMITED 中 華 國 際 控 股 有 限 公 司 （於百 慈 達 註 冊 成 立 之 有 限 公 司 ) 股份代號 : 1064 2024 中期報告 Château Rouget 1949 (Ex-Château in 2014) Pomerol France The Celebration Wine for the 75th Anniversary of the Establishment of The People's Republic of China 慶祝中華人民共和國成立七十五週年獻禮酒 法國波美侯區盧吉莊1949年（2014年酒莊窖出） 二零二四年中期報告 中華國際控股有限公司 目錄 21 根據上市規則的披露 未經審核簡明綜合財務報表 27 簡明綜合權益變動表 2 公司資料 3 管理層討論與分析 17 權益披露 23 簡明綜合收益表 24 簡明綜合全面收益表 25 簡明綜合財務狀況表 28 簡明綜合現金流量報表 29 簡明綜合財務報表附註 1 中華國際控股有限公司 二零二四年中期報告 公司資料 | --- | --- | |- ...

Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 14,259,000, a decrease of 2.5% compared to HKD 14,624,000 for the same period in 2023[1] - The company reported a loss before tax of HKD 28,093,000, significantly improved from a loss of HKD 1,751,703,000 in the prior year[1] - Total comprehensive loss for the period was HKD 35,427,000, compared to HKD 1,971,827,000 in the previous year, indicating a substantial reduction in losses[3] - Basic and diluted loss per share for ordinary shareholders was HKD 1.25, compared to HKD 62.51 in the same period last year[2] - The net loss attributable to equity holders was HKD 1,861,665,000 for the same period, compared to a loss of HKD 444,000 previously reported[10] - The group reported a pre-tax loss of HKD 28,093,000 and a post-tax loss of HKD 30,783,000 for the period, compared to a pre-tax loss of HKD 1,751,703,000 and a post-tax loss of HKD 1,861,665,000 in 2023[30] Assets and Liabilities - Non-current assets totaled HKD 1,365,035,000 as of June 30, 2024, down from HKD 1,403,623,000 at the end of 2023[4] - Cash and cash equivalents decreased to HKD 78,763,000 from HKD 90,761,000 at the end of 2023[4] - The company’s total equity as of June 30, 2024, was HKD 1,027,672,000, a decrease from HKD 1,063,099,000 at the end of 2023[5] - The group’s total assets amounted to HKD 1,451,330,000, down from HKD 1,496,606,000 as of December 31, 2023[32] - The deferred tax liabilities amounted to HKD 820,699,000, reflecting the company's tax obligations[25] Cash Flow and Expenses - The cash flow from operating activities improved to HKD 5,117,000 for the six months ended June 30, 2023, compared to HKD 1,541,000 previously reported[12] - Net cash flow from operating activities was HKD 3,658,000, down from HKD 5,117,000 in 2023[31] - The total tax expense for the period was HKD 2,690,000, a decrease from HKD 109,962,000 in the previous year, primarily due to the absence of taxable profits in Hong Kong[22] - Administrative expenses increased to HKD (14,381,000) from HKD (12,158,000) in the prior year, reflecting a rise in operational costs[1] Shareholder Information - The company did not recommend the payment of an interim dividend for the period, consistent with the previous year[20] - The company has not issued any potential dilutive ordinary shares during the reporting period[21] Legal and Regulatory Matters - Guangzhou Zhengda has filed a lawsuit against Yuexiu State-owned Assets, claiming RMB 41,000,000 in interest losses[50] - The lawsuit began hearing in August 2024 and has not yet concluded[50] - The company remains confident that the liquidation petition against Guangzhou Zhengda lacks factual and legal basis[56] - The management has highlighted the lack of detailed mechanisms and procedures for liquidation under the Company Law of the People's Republic of China[52] Projects and Investments - The company completed a new share issuance of 108,000,000 shares at HKD 0.15 per share, raising a total of HKD 16.1 million, with 74.5% allocated for the Guangzhou reconstruction project[39] - The Guangzhou reconstruction project is expected to develop a 22-story multifunctional commercial complex with a total construction area of approximately 234,000 square meters, with the first phase completion anticipated by the end of 2027[45] - The company plans to explore investment opportunities related to "new productive forces" in addition to its core property development and management business[42] Employee and Governance - The total employee cost for the group was HKD 3,870,000 for the period, compared to HKD 3,630,000 in the previous year[61] - The group maintained approximately 20 employees as of June 30, 2024, consistent with the previous year[61] - The board supports the Hong Kong SAR government's lawful governance, especially in light of recent national security measures[60] - The board emphasizes the importance of competitive compensation and employee development resources to enhance performance[61] Market Conditions - The real estate market in China is still in a consolidation phase, with expectations for a rebound taking a few more years[59] - The board will closely monitor market trends to adjust the property portfolio and reconstruction timetable accordingly[59]

2023 年 報 中華國際控股有限公司 二零二三年年報 公司資料 中華國際控股有限公司 二零二三年年報 財務回顧 截至二零二三年十二月三十一日止年度，本集團之經調整EBITDA為溢利6,060,000港元（二零二二年：7,447,000 港元）。經調整EBITDA是指未計利息、稅項及折舊前的盈利，且未計及投資物業公允價值變動、一間當時附 屬公司之取消確認虧損及按公允價值計入損益之一間實體的股本權益之公允價值變動之影響。EBITDA為衡 量凈收入溢利能力的常用替代指標。通過納入折舊及攤銷以及稅項及債務支付成本，EBITDA嘗試代表本公司 營運產生的現金溢利。基於此，本公司亦排除對本公司凈收入產生重大影響屬非現金性質的額外非現金項目 （即(i)投資性物業的公允價值變動；(ii)一間當時附屬公司之取消確認虧損；及(iii)按公允價值計入損益之一間 實體的股本權益之公允價值變動），以於檢討本公司表現時達到此目標。 一間當時附屬公司取消確認的財務影響 管理層論析 廣州正大股權的公允價值是根據折現淨變現價值（即變現廣州正大資產及清償負債的現金流量折現法）釐定。 在釐定廣州正大股本權益的公允價值時，董事會已考慮：(i)廣州 ...

(於百慕達註冊成立之有限公司) (股份代號 : 1064) 承董事會命 中華國際控股有限公司 公司秘書 秦偉賢 香港交易及結算所有限公司以及香港聯合交易所有限公司對本公告之內容概 不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本公 告全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何 責任。 茲提述中華國際控股有限公司於二零二四年六月二十八日發出的公 告第 34 頁，修訂表述為「本公司之股份自二零二四年四月二日上午 九時起在聯交所暫停買賣」而非「本公司之股份自二零二四年七月 二日上午九時起在聯交所暫停買賣」。 於本公告當日，本公司董事會成員包括(i)執行董事何鑑雄先生； (ii)非執行董事楊國瑞先生；及(iii)獨立非執行董事譚剛先生、黃 妙婷女士及黃鉅輝先生。 錯植字更正啟事 香港，二零二四年七月二日 ...

分類收入按客戶所在地劃分，分類資產按資產所在地劃分。由於本集團收入逾90%均來自中 國大陸之客戶，且本集團資產逾90%位於中國大陸，因此並無呈列地區分類資料。 8 來自一名客戶的收入佔本團總收入10%以上。於截至二零二三年十二月三十一日止年度，來 自客戶A的收入為28,363,000港元（二零二二年：30,283,000港元）。 3. 其他地區應課稅溢利稅項按本集團經營所在管轄區之現行稅率計算。於中國大陸成立之附 屬公司須按稅率25%（二零二二年：25%）繳稅。 獨立核數師報告摘錄 以下為有關本公司截至二零二三年十二月三十一日止年度之綜合財務報表之獨立 核數師報告摘錄： （於百慕達註冊成立之有限公司） （股份代號：1064） 截至二零二三年十二月三十一日止年度 本公司普通股權益持有人應佔每股 盈利╱（虧損） 7 | --- | --- | --- | |---------------------------------------------------------------------------|-------------|------------| | | 二零二三年 | 二零二二年 | | | 千港 ...

Financial Performance - The consolidated revenue for the six months ended June 30, 2023, was HKD 14,752,000, a slight increase of approximately 2% compared to HKD 15,104,000 for the same period last year[7]. - The adjusted EBITDA for the period was HKD 3,021,000, down from HKD 4,995,000 in the previous year[8]. - The net loss for the group during the period was HKD 444,000, a decrease from a profit of HKD 521,000 in the same period last year, attributed to a decline in revenue and an increase in administrative expenses[9]. - For the six months ended June 30, 2023, the company's revenue was HKD 14,752,000, a decrease of 2.33% compared to HKD 15,104,000 in the same period of 2022[105]. - The company reported a loss of HKD 444,000 for the period, compared to a profit of HKD 521,000 in the previous year, indicating a significant decline in profitability[105]. - The pre-tax profit for the period was HKD 2,171,000, down from HKD 3,118,000 in 2022, reflecting a decrease of approximately 30.4%[122]. - The basic earnings per share attributable to ordinary shareholders was HKD 0.02, down from HKD 0.15 in the same period last year, a decline of 86.67%[105]. - The total employee cost for the period was HKD 3,599,000, a decrease from HKD 3,916,000 in the previous year[76]. Financial Position - The cash and bank balance as of June 30, 2023, was HKD 95,874,000, an increase from HKD 84,874,000 as of December 31, 2022, with no bank borrowings[10]. - The group had outstanding borrowings of HKD 69,098,000 as of June 30, 2023, down from HKD 72,297,000 at the end of the previous year[13]. - The total assets of the group as of June 30, 2023, were HKD 4,233,749,000, a decrease from HKD 4,415,989,000 as of December 31, 2022[14]. - The net current assets as of June 30, 2023, were HKD 12,838,000, compared to HKD 1,034,000 as of December 31, 2022[14]. - The company's total equity decreased to HKD 2,883,771,000 from HKD 3,021,523,000, a decline of approximately 4.56%[111]. - The total liabilities decreased to HKD 1,217,706,000 from HKD 1,257,083,000, reflecting a reduction of about 3.13%[111]. Capital and Investments - The company announced the issuance of 60,000,000 stock options at an exercise price of HKD 0.09, raising a total of HKD 4,950,000 before expenses[22]. - As of June 30, 2023, the net proceeds from the new share issuance amounted to HKD 16.1 million, with 74.5% allocated to the Guangzhou development project and 25.5% for general working capital[25]. - The Guangzhou reconstruction project is budgeted at approximately RMB 1.7 billion (HKD 1.836 billion), with the company and related parties bearing 25% and 75% of the total cost respectively[39]. - The company owns around 190 residential units with a total construction area of approximately 11,000 square meters, which are currently vacant or available for sale[41]. Legal and Regulatory Matters - The company is currently facing legal challenges regarding a liquidation petition against its indirect subsidiary, Guangzhou Zhengda, with recent court rulings impacting its operational status[51]. - The company expressed disappointment over a recent ruling that overturned a previous dismissal of the liquidation petition, indicating ongoing legal disputes[51]. - The company plans to address the legal issues through litigation or arbitration rather than liquidation procedures[51]. - Guangzhou Zhengda's Chinese partner holds 0% equity, thus has no shareholder rights according to Chinese company law[55]. - The so-called liquidation announcement is the second attempt by Yuefang Private Enterprise to initiate compulsory liquidation, following a similar attempt in 2009 that was dismissed in 2021[58]. - Guangzhou Zhengda's business operations remain normal, and it is still registered as an "operating enterprise" as of the latest public report[60]. Market and Economic Outlook - Economic indicators show a strong rebound in both mainland China and Hong Kong following the lifting of travel restrictions in March 2023[68]. - The central government aims for a 5% economic growth target for 2023, despite facing challenges such as the ongoing Ukraine war and high inflation rates in Western countries[68]. - The board maintains a cautiously optimistic outlook for the stability and prosperity of the Chinese economy this year[70]. - The board expresses optimism for economic rebound in mainland China and Hong Kong in the fourth quarter of 2023[75]. - The government emphasizes the importance of macro policies, expanding demand, reform, innovation, and risk prevention to stabilize the economy[70]. Corporate Governance - The company has complied with the corporate governance code throughout the period[94]. - The board consists of five members, with independent non-executive directors making up 60% of the board[96]. - Major shareholders include Ye Jiali with 15.30% and He Zhanxiong with 13.74% of the company's shares[86]. - The company’s major shareholder, He Jianxiong, holds 14.39% of the company through controlled corporations and 0.91% directly[78].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責, 對其準確性或完整性亦不發表任何聲明,並明確表示概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責任。 1 中期業績 中期業績 中華國際控股有限公司(「本公司」)董事會(「董事會」)謹此宣佈,本公司截至二零 二三年六月三十日止六個月未經審核綜合業績(「中期業績」),連同二零二二年同 期之比較數字,如下: 簡明綜合收益表 | | | 截至六月三十日止六個月 | | |-------------------------------------|------|--------------------------|---------------| | | | 二零二三年 | 二零二二年 | | | | (未經審核) | (未經審核) | | | 附註 | 千港元 | 千港元 | | 收入 | 2 | 14,752 | 15,104 | | 其他收入及收益 | | 229 | 526 | | 行政開支 | | (12,087) | (11,717) | | 財務費用 | 3 | (723) | (795) | | 稅 ...