CMBC CAPITAL HOLDINGS LIMITED (於百慕建註冊成立之有限公司) (股份代號：1141) 中 期 報 告 2021 New 目錄 頁碼 簡稱 2 公司資料 3 管理層討論及分析 4 其他資料 16 簡明綜合財務報表審閱報告 21 簡明綜合損益表 23 簡明綜合損益及其他全面收益表 24 簡明綜合財務狀況表 25 簡明綜合權益變動表 27 簡明綜合現金流量表 28 簡明綜合財務報表附註 29 中期報告 2021 | 民銀資本控股有限公司 簡稱 於本中期報告內，除另有所指外，下列簡稱具有以下涵義： | --- | --- | --- | |--------------------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 「董事會」 | 指 | 董事會 | | 「中國民生」 | 指 | 中國民生 ...

CMBC CAPITAL HOLDINGS LIMITED 於百慕達註冊成立之有限公司 股份代號：1141 年報 2020 d- 目錄 | --- | --- | |--------------------------|-------| | | 頁次 | | 簡稱 | 2 | | 公司資料 | 4 | | 主席報告書 | 5 | | 管理層討論及分析 | 10 | | 董事及高級管理層 | 26 | | 董事會報告 | 31 | | 企業管治報告 | 47 | | 環境、社會及管治報告 | 62 | | 獨立核數師報告 | 77 | | 綜合損益及其他全面收益表 | 86 | | 綜合財務狀況表 | 88 | | 綜合權益變動表 | 91 | | 綜合現金流量表 | 93 | | 綜合財務報表附註 | 95 | | 財務概要 | 195 | 簡稱 | --- | --- | --- | |------------------------------------------------------|-------|------------------------------------------------- ...

CMBC CAPITAL HOLDINGS LIMITED (於百慕邊註冊成立之有限公司) (股份代號：1141) 中 期 報 告 2020 003 aparticos a 頁碼 簡稱 2 公司資料 3 管理層討論及分析 4 其他資料 18 簡明綜合財務報表審閱報告 25 簡明綜合損益表 27 簡明綜合損益及其他全面收益表 28 簡明綜合財務狀況表 29 簡明綜合權益變動表 31 簡明綜合現金流量表 32 未經審核簡明綜合財務報表附註 33 目錄 中期報告 2020 | 民銀資本控股有限公司 簡稱 | --- | --- | --- | |------------------------------------------------------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 於本中期報告內，除另有所指外 ...

Economic Overview - In 2019, Hong Kong's economy contracted by 1.2%, marking the first annual negative growth since 2009[11] - China's GDP growth rate for 2019 was recorded at 6.1%, maintaining its position among the world's major economies[11] - The number of new IPOs in Hong Kong decreased by 16% to 183, but the total funds raised increased by 9% to HKD 312.9 billion[12] - The Asian G3 currency bond issuance (excluding Japan) reached USD 338.6 billion, a 27% increase year-on-year[12] - The group acknowledges the impact of the COVID-19 pandemic on global financial markets and economic activities, increasing uncertainty for future growth[75] Financial Performance - The company achieved total revenue of approximately HKD 1,069.8 million, a 49.0% increase from the previous year's HKD 718.0 million[14] - Net profit for the year was approximately HKD 356.9 million, up 45.5% from HKD 245.2 million in the previous year[14] - Total revenue for the group increased by 23.7% to approximately HKD 978.7 million, compared to HKD 791.2 million in the previous year, primarily driven by growth in investment and financing categories[25] - The group reported a profit attributable to shareholders of approximately HKD 356.9 million for the year, an increase of 45.5% from HKD 245.2 million in the previous year[25] - Total assets increased from approximately HKD 10,440 million at the end of 2018 to approximately HKD 11,640 million by the end of 2019, representing an 11.5% growth[14] Business Segments Performance - The securities business reported a profit increase of 8.9% to approximately HKD 89.1 million, compared to HKD 81.8 million in the previous year[15] - Investment and financing profit surged by 205.9% to approximately HKD 339.2 million, up from HKD 110.9 million in the previous year[17] - Asset management revenue rose significantly by 208.4% to approximately HKD 77.6 million, compared to HKD 25.2 million in the previous year[17] - The securities business contributed revenue of approximately HKD 129.0 million and profit of approximately HKD 89.1 million, while the previous year's figures were HKD 136.0 million and HKD 81.8 million respectively[29] - Investment and financing revenue totaled HKD 786.6 million, up from HKD 392.1 million in the previous year, with profit increasing from HKD 110.9 million to HKD 339.2 million[32] Risk Management and Strategy - The company is positioned to respond to various risks and challenges posed by external factors such as US-China trade tensions[11] - The company is focused on enhancing risk management and maintaining a balanced development across various business segments amid global economic uncertainties[14] - The group maintains a cautious development strategy for its securities brokerage and margin financing businesses[30] - The group emphasizes strict risk control and compliance while expanding its business structure and cross-selling opportunities[23] - The board believes that risk management is a key factor for the company's success and is committed to improving its risk management capabilities[80] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has adhered to all applicable provisions of the corporate governance code[178] - The audit committee, remuneration committee, and nomination committee have been established to enhance governance practices within the company[187] - The independent non-executive directors have confirmed their independence in accordance with the listing rules[189] - The company has adopted a standard code for securities trading by directors, ensuring compliance throughout the reporting year[181] - The company provides comprehensive and tailored guidance for newly appointed directors to ensure they understand their responsibilities and obligations under listing rules and relevant laws[194] Management and Personnel - The company has a strong management team with members holding advanced degrees and significant experience in finance and banking, enhancing its strategic decision-making capabilities[86] - The management team consists of experienced professionals with over ten years in the financial industry, enhancing the group's operational capabilities[96] - Employee costs increased to HKD 119.6 million from HKD 71.8 million, reflecting greater human resource investment to support business expansion[44] - The group employed 90 staff members as of December 31, 2019, up from approximately 80 staff members the previous year[74] - The company has established a compensation policy based on employee performance and market conditions, including benefits such as a provident fund plan and medical insurance[161] Investment Strategy - The company’s investment strategy focuses on high-end technology, healthcare, and artificial intelligence sectors, with stable growth in the value of held investment projects[36] - The company’s bond investment strategy aims for sustainable returns while maintaining liquidity through a diversified loan portfolio across various industries[38] - The group aims to enhance profitability through investment and financing business, corporate financing and consulting, and asset management services[77] - The group plans to optimize its investment and financing business structure in response to economic developments and regulatory trends[77] - The company aims to leverage its strong financial background and market knowledge to explore new business opportunities and enhance shareholder value[90] Shareholder Information - The major shareholder, China Minsheng Bank, holds a controlling interest with 29,360,599,093 shares, representing 61.58% of the total share capital[169] - The company plans to distribute a final dividend of HKD 0.33 per share for the year ended December 31, 2019, up from HKD 0.20 per share in the previous year[47] - The group reported a final dividend of HKD 0.33 per share, totaling approximately HKD 157.3 million, compared to HKD 0.20 per share in the previous year[97] - The total number of shares repurchased during the year was 28,700,000, at a total cost of approximately HKD 4.0 million[107] - As of December 31, 2019, the company's distributable reserves included HKD 2,223.4 million in paid-up profits, down from HKD 2,318.8 million in the previous year[110] Related Party Transactions - The independent non-executive directors have reviewed the related party transactions and confirmed they were conducted in the ordinary course of business[157] - The auditor has issued an unqualified opinion on the related party transactions, confirming they were approved by the board and conducted according to the company's pricing policy[157] - The company has not entered into any management contracts for significant portions of its business during the reporting year[163] - There were no significant transactions or arrangements with the company's controlling shareholder during the reporting year[158] - The transactions under the renewed deposit agreement are classified as continuing connected transactions under Listing Rule Chapter 14A, requiring disclosure and annual review but exempt from circular and independent shareholder approval[130]

CMBC CAPITAL HOLDINGS LIMITED (於百基建註冊成立之有限公司) (股份代號：1141) 中期報告 2019 FEE EST 2 all Hi minuti -111 TT TANK STATUS IN O 11 11 11 LII II 101011111 *1440000 annes Bird Frances and and t Un win 目錄 頁碼 簡稱 2 公司資料 3 管理層討論及分析 4 其他資料 17 簡明綜合財務報表審閱報告 23 簡明綜合損益表 25 簡明綜合損益及其他全面收益表 26 簡明綜合財務狀況表 27 簡明綜合權益變動表 29 簡明綜合現金流量表 30 未經審核簡明綜合財務報表附註 31 中期報告 2019 | 民銀資本控股有限公司 2 簡稱 | --- | --- | --- | |------------------------------------------------------|-------|------------------------------------------------------------------------- ...

IPO Market Performance - In 2018, the Hong Kong IPO market raised a total of HKD 286.5 billion, representing a 123% year-on-year increase, reclaiming the top position globally for IPO fundraising [28]. - The number of new listed companies in Hong Kong reached 218 in 2018, marking a 25% increase compared to the previous year [28]. - The Hong Kong stock market's performance did not deter mainland and overseas companies from listing in Hong Kong, benefiting from the stock exchange's reform measures [28]. - The company remains optimistic about future opportunities in the capital market due to ongoing reforms and increased listing activities [28]. Economic and Market Conditions - The Shanghai Composite Index fell by 24.6% in 2018, reflecting a sluggish capital market performance influenced by US-China trade tensions [28]. - The Hang Seng Index also declined by 13.6% in 2018, impacted by external market conditions [28]. - The US stock market experienced a decline in late 2018, with the Dow Jones Industrial Average dropping 5.6%, the S&P 500 down 6.2%, and the Nasdaq falling 3.9% [27]. - The UK FTSE 100 Index decreased by 12.5% in 2018, amid uncertainties surrounding Brexit and other economic factors [27]. - The US Federal Reserve's interest rate hikes and government shutdown negatively affected investor confidence in 2018 [27]. - The overall economic environment in China showed signs of slowing, with both domestic demand and investment growth decelerating [28]. Financial Performance - The group's total revenue for the reporting year was approximately HKD 718 million, a growth of 207.1% compared to approximately HKD 234 million in the previous period [30]. - Net profit for the reporting year was approximately HKD 245 million, an increase of 107.3% from approximately HKD 118 million in the previous period [30]. - The group's total assets increased from approximately HKD 5.31 billion at the end of 2017 to approximately HKD 10.44 billion at the end of 2018, representing a growth of 96.5% [30]. - The group’s total revenue increased by 379.0% to approximately HKD 791 million, compared to HKD 165 million in the previous period [39]. Revenue Breakdown - Revenue from the securities business rose by 86.1% to approximately HKD 136 million, compared to HKD 73.1 million in the previous period [31]. - Investment and financing revenue surged by 233.2% to approximately HKD 392 million, up from HKD 117.7 million in the previous period [31]. - Revenue from asset management, corporate financing, and consulting increased by 341.1% to approximately HKD 190 million, compared to HKD 43.1 million in the previous period [33]. - Securities business revenue and profit increased to approximately HKD 136 million and HKD 81.8 million, respectively, compared to HKD 73.1 million and HKD 49.1 million in the previous period, driven by increased commission income from bond and IPO underwriting services [43]. - Investment and financing income rose significantly to HKD 392.1 million from HKD 117.7 million in the previous period, with profits increasing from HKD 91.9 million to HKD 110.9 million, primarily due to diversified investment and financing portfolio growth [46]. Asset Management and Investment Strategy - The company's self-operated investment assets reached HKD 4,063 million, with bond investments accounting for HKD 3,135.4 million, maintaining a stable investment style focused on yield generation [50]. - Asset management services recorded revenue of approximately HKD 189.9 million and profit of HKD 148.6 million, up from HKD 43.1 million and HKD 39.8 million in the previous period, driven by growth in corporate consulting and asset management scale [51]. - The asset management team successfully established multiple fixed-income private funds, increasing managed assets to approximately USD 600 million, leading to significant growth in management fee income [53]. - The company has maintained a cautious investment strategy in the Hong Kong capital market, with two fixed-income private funds achieving positive returns despite overall market volatility [53]. - The company plans to optimize its investment and financing business, focusing on high-quality clients in emerging technology, healthcare, and consumer sectors [95]. Risk Management and Compliance - The company emphasizes rigorous risk management strategies, balancing risk and return while diversifying investments across various opportunities [50]. - The company has implemented multiple risk management policies and procedures to address various risks, including credit, market, legal compliance, liquidity, and operational risks [99]. - A central internal control and compliance management system has been established to effectively monitor the group's operations and transactions [99]. - The board has formed a risk management and internal control committee to oversee the overall risk management framework of the group [99]. - The company will continue to enhance its risk management measures and internal control systems, adopting a strict governance framework based on market best practices [99]. Corporate Governance - The company has adhered to all applicable provisions of the corporate governance code during the reporting year, with some deviations explained [182]. - The board consists of eight directors, including three executive directors, two non-executive directors, and three independent non-executive directors [186]. - The audit committee's main responsibilities include reviewing the group's financial statements and providing advice on financial reporting matters [200]. - The company has established six board committees to monitor specific areas of company affairs, ensuring adequate resources are available for their duties [199]. - The company provides comprehensive and tailored guidance to newly appointed directors to ensure they understand their responsibilities and obligations under listing rules [197]. Employee and Operational Costs - Administrative and financing costs totaled HKD 406.9 million for the year ended December 31, 2018, compared to HKD 105.7 million for the nine months ended December 31, 2017, representing an increase of 284.5% [56]. - Employee costs increased by 105.9% due to investments in human resources to support business expansion [56]. - Total employee costs for the year amounted to approximately HKD 71,800,000, an increase from HKD 34,900,000 in the previous period [94]. Shareholder Information - The company proposed a final dividend of HKD 0.002 per share for the year ended December 31, 2018, compared to no dividend for the previous year [58]. - The total equity attributable to shareholders was approximately HKD 1.88 billion as of December 31, 2018, compared to HKD 1.28 billion as of December 31, 2017 [60]. - Major shareholders include China Minsheng Banking Corp., holding 28,918,649,093 shares, representing 60.62% of the total share capital [173]. - China Soft Power Technology Group holds 3,869,535,829 shares, accounting for 8.11% of the total share capital [173]. - The company has a distributable reserve of 2,318.8 million HKD as of December 31, 2018, unchanged from the previous year [127]. Future Outlook - The outlook for 2019 indicates potential benefits from structural optimization in the Chinese economy, with a GDP growth target of 6%-6.5% set by the government [36]. - The company aims to expand its listing sponsorship and M&A advisory services, leveraging its strong client base of high-quality private enterprises in mainland China for cross-border listings and acquisitions [96]. - The asset management business will focus on diversifying private equity products to meet the varied needs of high-net-worth clients in the Greater China region [96]. - The company plans to enhance its development quality and speed by focusing on investment targets or partners that have synergistic effects with the group and can sustain revenue and profit growth [96]. - The upgraded "One Body, Two Wings" strategy will optimize the existing investment and financing structure, emphasizing the integration of investment banking and asset management [97].

CMBC CAPITAL HOLDINGS LIMITED 於百慕蓬柱哥成立之有限公司 股份代號：1141 naming ■ #1 年報２０１８ HINDING BIGHT THE CHOOL 04-537 目錄 頁次 簡稱 2 公司資料 4 主席報告書 5 管理層討論及分析 9 董事及高級管理層 24 董事會報告 28 企業管治報告 42 環境、社會及管治報告 58 獨立核數師報告 74 綜合損益及其他全面收益表 85 綜合財務狀況表 87 綜合權益變動表 90 綜合現金流量表 92 綜合財務報表附註 94 財務概要 229 簡稱 | --- | --- | --- | |------------------------------------------------------|-------|---------------------------------------------------------------------------------------------------------------------------------------------| | | | | | 於本年報內 ...