Central Wealth : 2021 / 2021 Annual Report

(Incorporated in Bermuda with limited liability)

(於百慕達註冊成立之有限公司)

Stock Code 股份代號 : 139

Contents ͦ፽

• 2-3 Corporate Information ʮ̡༟ࣘ

  73

  Consolidated Statement of Profit or Loss ၝΥฦूڌ

• 4-13 Chairman's Statement and Management Discussion and Analysis ˴ࢩజѓʿ၍ଣᄴীሞʿʱؓ

  74

  Consolidated Statement of Comprehensive Income ၝΥΌࠦϗूڌ

• 14-26 Report of the Directors ໨ԫึజѓ

  • 75-76 Consolidated Statement of Financial Position ၝΥৌਕًرڌ

• 27-41 Corporate Governance Report

  Άุ၍طజѓ

  • 77-78 Consolidated Statement of Changes in Equity ၝΥᛆूᜊਗڌ

• 42-61 Environmental, Social and Governance Report ᐑྤeٟึʿ၍طజѓ

  • 79-82 Consolidated Statement of Cash Flows ၝΥତږݴඎڌ

• 62-64 Biographical Details of Directors ໨ԫᄵዝ

• 65-72 Independent Auditor's Report ዹͭࣨᅰࢪజѓࣣ

• 83-204 Notes to Consolidated Financial Statements ၝΥৌਕజڌڝൗ

Corporate Information
ʮ̡༟ࣘ
Executive Directors	ੂБ໨ԫ
Chen Xiaodong (Chairman)	௓ወ؇€˴ࢩ
Chen Jingxian (Vice Chairman)	௓᎑ᄫ€ਓ˴ࢩ
Wang Jun (Chief Executive Officer)	ˮࠏ€Б݁ᐼ൒
Yu Qingrui	Яᅅቚ
Song Caini
Chen Hongjin
Independent Non-Executive Directors	ዹͭڢੂБ໨ԫ
Kwok Chi Kwong	ெқΈ
Wu Ming	юთ
Liu Hongwei	ᄎ҃ਃ
Audit Committee	ᄲࣨ։ࡰึ
Kwok Chi Kwong (Chairman)	ெқΈ€˴ࢩ
Wu Ming	юთ
Liu Hongwei	ᄎ҃ਃ
Remuneration Committee	ᑚཇ։ࡰึ
Kwok Chi Kwong (Chairman)	ெқΈ€˴ࢩ
Liu Hongwei	ᄎ҃ਃ
Nomination Committee	౤Τ։ࡰึ
Chen Xiaodong (Chairman)	௓ወ؇€˴ࢩ
Kwok Chi Kwong	ெқΈ
Liu Hongwei	ᄎ҃ਃ
Company Secretary	ʮ̡।ࣣ
Szeto Pui Tong, Patrick	̡ࢯӒࣶ
Auditor
Moore Stephens CPA Limited	ɽശ৵݄ථึࠇࢪԫਕהϞࠢʮ̡
Principal Bankers	˴ࠅֻԸვБ
CMB Wing Lung Bank	םਠ͑ඤვБ
Chong Hing Bank Limited	௴ጳვБϞࠢʮ̡
Public Bank (Hong Kong) Limited	ɽ଺ვБ€࠰ಥϞࠢʮ̡
Shanghai Commercial Bank Limited	ɪऎਠุვБϞࠢʮ̡
Hang Seng Bank Limited	㛬͛ვБϞࠢʮ̡
Registered Office	ൗ̅፬ԫஈ
Clarendon House	Clarendon House
2 Church Street	2 Church Street
Hamilton HM 11	Hamilton HM 11
Bermuda	Bermuda

҂ڕإ ௓ݳږ

ࣨᅰࢪ

Corporate Information ʮ̡༟ࣘ

Head Office and Principal Place of Business	ᐼ፬ԫஈʿ˴ࠅᐄุήᓃ
Unit 1801-2, 18/F	࠰ಥ
Far East Finance Centre	ࢀ⚃༸16໮
No. 16 Harcourt Road	Ⴣ؇ږፄʕː
Hong Kong	18ᅽ1801-2܃
Principal Share Registrar	ٰ΅ཀ˒೮াᐼஈ
MUFG Fund Services (Bermuda) Limited	MUFG Fund Services (Bermuda) Limited
26 Burnaby Street	26 Burnaby Street
Hamilton HM 11	Hamilton HM 11
Bermuda	Bermuda
Hong Kong Branch Share Registrar	࠰ಥٰ΅ཀ˒೮াʱஈ
and Transfer Office
Tricor Tengis Limited	ՙԳ೮ઠࣛϞࠢʮ̡
Level 54	࠰ಥ
Hopewell Centre	ެΧɽ༸؇183໮
183 Queen's Road East	Υձʕː
Hong Kong	54ᅽ
Company's Website	ʮ̡ၣࠫ
www.cwghl.com	www.cwghl.com
Stock Code	ٰ΅˾໮
139	139

Chairman's Statement and Management Discussion and Analysis ˴ࢩజѓʿ၍ଣᄴীሞʿʱؓ

Review of Results

The Group recorded a revenue of approximately HK$243.8 million for the year ended 31 December 2021 (the "Year"), compared to a revenue of approximately HK$669.9 million for the year ended 31 December 2020. It was mainly attributable to the commission income from placing of approximately HK$137.9 million. The net loss before tax for the Year was approximately HK$369.5 million as compared to the net profit before income tax of approximately HK$35.4 million for the year ended 31 December 2020. The significant decrease in revenue and turnaround from profit to loss for the year was mainly attributable to (i) the recognition of unrealised fair value loss on equity and fund investments at fair value through profit or loss and (ii) credit loss allowances on other financial assets.

ุᐶΫᚥ

͉ණྠ׵࿚Їɚཧɚɓϋɤɚ˜ɧɤɓ˚˟ϋ ܓ€˜ ͉ϋܓ ™፽੻ϗɝߒ 243,800,000 ಥʩd Ͼ࿚Їɚཧɚཧϋɤɚ˜ɧɤɓ˚˟ϋܓ፽੻ ϗɝߒ 669,900,000 ಥʩfϤɗ˴ࠅ๕׵ৣਯЩ ږϗɝߒ 137,900,000 ಥʩf͉ϋܓৰ೼ۃᑦฦ ଋᕘߒމ 369,500,000 ಥʩdϾ࿚Їɚཧɚཧϋ ɤɚ˜ɧɤɓ˚˟ϋܓʘৰה੻೼ۃॱлߒމ 35,400,000 ಥʩf׵͉ϋܓٙϗɝɽషɨࠥʿ͟ ޮᔷᑦɗ˴ࠅ͟׵ (i) ᆽႩீཀฦूܲʮ̻࠽ΐ ሪʘٰ͉ʿਿږҳ༟ʘ͊ᜊତʮ̻࠽ᑦฦʿ (ii) Չ˼ږፄ༟ପʘڦ൲ᑦฦᅡ௪f

The net loss after income tax for the Year was approximately HK$371.3 million as compared to the net profit after income tax of approximately HK$27.8 million for the year ended 31 December 2020. Basic loss per share attributable to owners of the Company for the Year was approximately HK2.32 cents (31 December 2020: basis earnings of approximately HK0.18 cents).

׵͉ϋܓٙৰה੻೼ܝᑦฦଋᕘߒމ 371,300,000 ಥʩdϾ࿚Їɚཧɚཧϋɤɚ ˜ɧɤɓ˚˟ϋܓٙৰה੻೼ܝॱлߒމ 27,800,000 ಥʩf׵͉ϋܓ͉ٙʮ̡ኹϞɛᏐЦ ӊٰਿ͉ᑦฦߒމ2.32 ಥ̀€ɚཧɚཧϋɤɚ˜ ɧ ɤ ɓ ˚jਿ ͉ ޮ л ߒ0.18ಥ ̀ f

Economy Review

In 2021, COVID-19 cases fell across much of the world signals a new dawn in the fight of the disease. Vaccines are proving effective and most of the world have taken the stringent anti-epidemic measures including travel bans, social distancing, city and regional lockdowns in order to keep people apart and suppress the virus. The global economy gradually recovered. However, the Omicron variant is sweeping across the global. Omicron is still highly contagious and can infect people even if they are fully vaccinated.

຾᏶Ϋᚥ

׵ɚཧɚɓϋd˰ޢɽ௅ʱήਜٙ COVID-19ष ԷѩϞהɨࠥdމ࿁Ҥ༈शष੭ԸəอٙᏣΈf Ϟࣖޥߴਪ˰d˲˰ޢɪɽ௅ʱήਜʊમ՟əᘌ ࣸٙԣޥણ݄€ܼ̍཯бࣚБຫ˿eڭٟܵʹ൷ ᕎe܆ᕁ̹۬ʿήਜd˸ཞᕎɛ໊ʿҵՓषݭf Όଢ຾᏶஼Ӊܨూf್Ͼd Omicron ᜊ᜗͍ࢩજ ΌଢfOmicron ʥՈϞ৷ܓෂݑ׌dуԴɛࡁҁ Ό ટ ၇ ޥ ߴ ͵ ̙ ঐ ึ ช ݑf

For 2021 as a whole, Hong Kong's economy expanded by 6.4% and the unemployment rate fell to approximately 3.9% in the fourth quarter. On a year-on-year basis, total exports of goods recorded accelerated growth in the fourth quarter due to the further revival of import demand in many major markets, especially China. However, exports of services plunged further as inbound tourism remained at standstill. Exports and imports trade were adversely affected by the weaker performance of the global economy and various external factors. Under the threat of COVID-19 and austere labour market conditions, domestic demand also decreased and private consumption expenditure stayed subdued, reflecting pessimistic local economic and consumer sentiment.

׵ɚཧɚɓϋΌϋd࠰ಥ຾᏶ᄣڗ 6.4% dϾุ̰ ଟ׵ୋ̬֙ܓɨࠥЇߒ 3.9% f͟׵εࡈ˴ࠅ̹ ఙ€ˈՉ݊ʕ਷ٙආɹცӋආɓӉΫʺdୋ̬ ֙ܓ஬ي̈ɹᐼᕘΝˢ፽੻Ҟ஺ᄣڗf್Ͼd͟ ׵ɝྤ༷ࣚʥ್৾ထʔۃd؂ਕ̈ɹආɓӉɨൻf ආ̈ɹ൱׸աՑΌଢ຾᏶हழʿεධ̮௅Ϊ९ ٙʔлᅂᚤfί COVID-19ٙ۾উʿ௶ਗ̹ఙً رᘌࢡٙઋرɨd਷ʫცӋ͵Ϟהɨࠥdࡈɛऊ ൬˕̈ʔࣈdˀ݈̈ేᝈ͉ٙή຾᏶ʿऊ൬٫ઋ ၫf