（於百慕達註冊成立之有限公司） 年報 目錄 余達志先生 楊海琿先生 林全智先生 目錄 公司資料 執行董事 審核委員會 余達志先生 （主席） 林全智先生 楊海琿先生 薪酬委員會 | 公司資料 | 2 | | --- | --- | | 財務摘要 | 3 | | 管理層討論與分析 | 4 | | 董事簡介 | 8 | | 企業管治報告 | 10 | | 董事報告書 | 22 | | 獨立核數師報告書 | 28 | | 綜合損益及其他全面收益表 | 33 | | 綜合財務狀況表 | 35 | | 綜合權益變動表 | 37 | | 綜合現金流動表 | 38 | | 綜合財務報表附註 | 40 | | 財務概要 | 136 | 1 隆成金融集團有限公司 陳俊傑先生 梁錦波先生 何觀禮女士 獨立非執行董事 余達志先生 （主席） 梁錦波先生 何觀禮女士 林全智先生 楊海琿先生 提名委員會 何觀禮女士 （主席） 陳俊傑先生 林全智先生 余達志先生 楊海琿先生 公司秘書 文潤華先生 註冊辦事處 Clarendon House 2 Church Street Hamilton HM11 Bermuda 主要營業地點 香港上環 皇 ...

（於百慕達註冊成立之有限公司） 2020 中期報告 中期業績 隆成金融集團有限公司（「本公司」）董事（「董事」）會（「董事會」）呈列本公司及 其附屬公司（統稱「本集團」）截至二零二零年六月三十日止六個月之未經審核綜 合業績連同比較數字及經選擇說明附註，此乃根據香港會計師公會頒佈之香港財 務報告準則編製，並已由本公司審核委員會（「審核委員會」）審閱。 簡明綜合損益及其他全面收益表 截至二零二零年六月三十日止六個月 | | | 截至六月三十日止六個月 | | | --- | --- | --- | --- | | | 附註 | 二零二零年 | 二零一九年 | | | | 千港元 | 千港元 | | | | （未經審核） | （未經審核） | | 收入 | | 108,150 | 125,766 | | 出售透過損益賬按公平值處理 | | | | | （「透過損益賬按公平值處理」））之 | | | | | 金融資產之所得款項總額 | | 783 | 6,855 | | | | 108,933 | 132,621 | | 收入 | 3 | 108,150 | 125,766 | | 存貨及服務成本 | | (28,8 ...

Financial Performance - Revenue for 2019 was HKD 247,592,000, a slight increase of 0.5% from HKD 246,313,000 in 2018[7] - The company reported a pre-tax loss of HKD 95,371,000, representing 38.5% of revenue, compared to a loss of HKD 64,151,000 (26.0% of revenue) in 2018[7] - The loss for the year was HKD 86.2 million, compared to a loss of HKD 67.7 million in 2018, primarily due to an increase in impairment losses[18] - The company reported a net loss of HKD 86,218,000 for 2019, compared to a loss of HKD 67,660,000 in 2018, representing a 27.5% increase in losses[146] - Total comprehensive loss for the year was HKD 86,344,000, compared to HKD 70,469,000 in the previous year, indicating a 22.5% increase[146] - The company recognized impairment losses on financial assets amounting to HKD 93,940,000, significantly higher than HKD 37,692,000 in 2018[145] Revenue Breakdown - Interest income from lending activities amounted to HKD 134,600,000, contributing 54.4% to total revenue, with an increase of HKD 900,000 from the previous year[14] - Sales revenue from medical products was HKD 49,800,000, up 4.3%, accounting for 73.8% of the medical products and plastic toys segment[10] - Sales from the European market for medical products and plastic toys increased by 34.8% to HKD 39,900,000, representing 59.1% of the segment's total revenue[10] - The company experienced a 49.7% decrease in revenue from the U.S. market, down to HKD 8,400,000, which accounted for 12.5% of the segment's total revenue[10] Assets and Liabilities - The total assets of the company decreased to HKD 2,070,372,000 from HKD 2,196,739,000 in 2018[7] - The total equity decreased from HKD 1,194,527 thousand in 2018 to HKD 1,108,183 thousand in 2019, a decline of about 7.2%[149] - The company’s total liabilities decreased from HKD 810,423 thousand in 2018 to HKD 785,873 thousand in 2019, a reduction of about 3.0%[149] - Cash and cash equivalents decreased by HKD 44 million to HKD 275.4 million as of December 31, 2019, compared to HKD 319.4 million at the end of 2018[19] Corporate Governance - The board of directors consists of six members, including three executive directors and three independent non-executive directors[42] - The company has established a nomination committee to review the composition of the board and monitor the appointment and succession planning of directors[45] - The company has complied with the listing rules by appointing at least three independent non-executive directors, with at least one possessing appropriate professional qualifications or accounting expertise[42] - The company emphasizes good corporate governance practices and compliance with applicable regulations[50] Risk Management - The board is responsible for maintaining an effective risk management and internal control system to protect shareholder investments and company assets[73] - The company has no significant investments exceeding 5% of total assets as of December 31, 2019[20] - The group currently has no hedging policies in place to mitigate foreign exchange and stock price risks, but management will continue to assess these risks[25][26] Future Outlook - The company plans to expand its financial services in Hong Kong and China, focusing on lending, leasing, and securities brokerage[16] - The company anticipates challenges in 2020 due to social unrest in Hong Kong, U.S.-China trade relations, and the impact of COVID-19 on market conditions[16] Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and transparency[78] - The company has established a website to provide the latest information on its business operations, financial data, and corporate governance practices[84] Financial Reporting and Compliance - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2019[126] - The company is committed to ensuring compliance with all legal and regulatory requirements[70] - The company will publish its Environmental, Social, and Governance report within three months after the annual report[122] Impairment and Valuation - The company recorded a significant impairment loss of HKD 33,415 thousand on goodwill in 2019, with no such loss reported in 2018[154] - The company engaged an independent external valuer for the goodwill impairment assessment, which included key assumptions such as discount rates and growth rates[130] Cash Flow and Financing Activities - Cash generated from operating activities was HKD 48,176 thousand in 2019, an increase from HKD 33,192 thousand in 2018, reflecting a growth of approximately 45.2%[154] - The net cash used in financing activities increased to HKD 37,918,000 in 2019 from HKD 19,825,000 in 2018[156] - The company issued bonds and received proceeds of HKD 56,179,000, net of issuance costs, in 2019[156]

（於百慕達註冊成立之有限公司） 中期報告 2019 中期業績 隆成金融集團有限公司（「本公司」）董事（「董事」）會（「董事會」）呈列本公司及 其附屬公司（統稱「本集團」）截至二零一九年六月三十日止六個月之未經審核綜 合業績連同比較數字及經選擇說明附註，此乃根據香港會計師公會頒佈之香港財 務報告準則編製，並已由本公司審核委員會（「審核委員會」）審閱。 簡明綜合損益及其他全面收益表 截至二零一九年六月三十日止六個月 | | | 截至六月三十日止六個月 | | | --- | --- | --- | --- | | | 附註 | 二零一九年 | 二零一八年 | | | | 千港元 | 千港元 | | | | （未經審核） | （未經審核） | | 收入 | | 125,766 | 118,942 | | 出售透過損益賬按公平值處理 | | | | | （「透過損益賬按公平值處理」）之 | | | | | 金融資產之所得款項總額 | | 6,855 | 2,160 | | | | 132,621 | 121,102 | | 收入 | 3 | 125,766 | 118,942 | | 存貨及服務成本 | | (40, ...

Revenue and Financial Performance - Revenue for the year 2018 was HKD 246,313,000, an increase of 9.3% compared to HKD 224,221,000 in 2017[7] - The group’s consolidated revenue for the year ended December 31, 2018, was HKD 246.3 million, an increase of 9.9% compared to HKD 224.2 million in 2017[18] - The company reported a pre-tax loss of HKD 64,151,000, which is 26.0% of revenue, significantly improved from a loss of HKD 611,959,000 in 2017[7] - The group reported a loss of HKD 67.7 million for the year, significantly reduced from a loss of HKD 535 million in 2017, mainly due to lower fair value losses on trading investments[19] - The net loss for the year was HKD 67,660,000, a reduction from HKD 535,000,000 in 2017, reflecting a decrease of approximately 87.4%[150] - Total comprehensive loss for the year amounted to HKD 70,469,000, down from HKD 527,999,000 in the previous year, marking a significant reduction[150] Revenue Segmentation - Interest income from lending activities increased by HKD 33,600,000 to HKD 135,300,000, representing 54.9% of total revenue[14] - Sales revenue from medical products was HKD 47,800,000, a 2.2% increase, accounting for 71.1% of the total revenue from medical products and plastic toys[10] - Revenue from the securities brokerage segment decreased by 41.8% to HKD 15,900,000, contributing 6.4% to total revenue[11] - Sales from the clothing accessories segment generated HKD 27,900,000, a slight decrease of HKD 300,000 from the previous year, representing 11.3% of total revenue[15] - Revenue from securities brokerage and lending services accounted for 61.4% of total revenue, an increase of about 3.6 percentage points from the previous year[18] Assets and Liabilities - Total assets decreased to HKD 2,196,739,000 from HKD 2,292,224,000 in 2017[7] - The group’s cash and cash equivalents decreased by HKD 46.6 million to HKD 319.4 million as of December 31, 2018, compared to HKD 366 million at the end of 2017[22] - The group’s current ratio was 10.6 as of December 31, 2018, down from 13.5 at the end of 2017, indicating a decrease in liquidity[22] - The group’s debt-to-asset ratio was 69.3% as of December 31, 2018, compared to 64.5% in the previous year, indicating a higher level of leverage[22] - The company reported a decrease in research and development expenses to HKD 49,000 from HKD 899,000 in the previous year, reflecting a reduction of about 94.5%[148] Corporate Governance - The board consists of six members, including three executive directors and three independent non-executive directors[44] - The company has not appointed a separate chairman and CEO, which is a deviation from corporate governance codes[39] - The board of directors held 4 regular meetings during the year ended December 31, 2018, to review and approve financial and operational performance[52] - All independent non-executive directors confirmed their independence according to the listing rules, ensuring compliance with governance standards[46] - The company has established three committees: the Nomination Committee, the Remuneration Committee, and the Audit Committee, to oversee specific areas of the company's affairs[58] Risk Management - The management team continuously evaluates foreign exchange risks, particularly the impact of RMB appreciation on the group's operations[27] - The group faces stock price risk due to investments in listed securities, with no current hedging policies in place[28] - The company has not established any hedging policies to mitigate foreign exchange or stock price risks, but management is considering appropriate measures[27][28] Employee and Training - The company employs approximately 260 employees, with around 210 based in China and the remainder in Hong Kong[30] - The company provides internal and external training for employees to enhance their skills[30] - The company emphasizes the importance of training and continuous professional development for directors and senior management[74] Financial Reporting and Compliance - The company confirmed its responsibility for preparing financial statements for the year ended December 31, 2018, in accordance with applicable regulations[75] - The company is committed to reviewing and monitoring compliance with all legal and regulatory requirements[74] - The independent auditor's report confirmed that the consolidated financial statements were prepared in accordance with the disclosure requirements of the Hong Kong Companies Ordinance[132] - The company adhered to the Hong Kong Financial Reporting Standards, ensuring that the consolidated financial statements present a true and fair view of the group's financial position as of December 31, 2018[132] Future Plans and Strategies - The company plans to develop asset management services to attract new investors, although no revenue was generated from this segment in 2018[12] - The company aims to expand its lending and leasing business in China, which has become a major source of income[14] - The group plans to establish a joint venture in China to provide comprehensive securities and financial services, pending approval from the Guangdong provincial government[16] - The group aims to diversify its financial services, including corporate financing and asset management, to capitalize on increasing investment demand in China[16] Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and transparency[82] - The company’s dividend distribution policy is based on available financial resources, investment needs, and optimal shareholder returns[103] - The board did not recommend the distribution of a final dividend for the year ended December 31, 2018[96]