Huabang Financial : 2017 Annual Report

(Incorporated in the Cayman Islands with limited liability) (Stock code: 3638)‌‌‌‌‌‌‌‌‌‌‌‌‌‌

2017

ANNUAL REPORT

CONTENTS

Page

2 CORPORATE INFORMATION

1. FINANCIAL SUMMARY

2. CHAIRMAN'S STATEMENT

7 MANAGEMENT DISCUSSION AND ANALYSIS

15 BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT

19 REPORT OF THE DIRECTORS

30 CORPORATE GOVERNANCE REPORT

40 ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

46 INDEPENDENT AUDITOR'S REPORT

51 CONSOLIDATED STATEMENT OF FINANCIAL POSITION

1. CONSOLIDATED INCOME STATEMENT

2. CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

3. CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

1. CONSOLIDATED STATEMENT OF CASH FLOWS

2. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

CORPORATE INFORMATION EXECUTIVE DIRECTORS

Mr. George Lu (Chief Executive Officer (appointed on 2 June 2016) and Chairman)

Mr. Lau Wan Po (Vice-chairman) (re-designated on 7 March 2017)

Mr. Pang Chung Fai Benny (Vice-chairman) (re-designated on 26 January 2017)

Ms. Lau Wing Sze (resigned as Chief Executive Officer and remained as an Executive Director on 2 June 2016)

Ms. Shen Wei (resigned on 26 January 2017)

NON-EXECUTIVE DIRECTOR

Mr. Lau Wan Po (Vice-chairman) (appointed on 26 January 2017 and re-designated as Executive Director on 7 March 2017)

INDEPENDENT NON-EXECUTIVE DIRECTORS

Mr. Loo Hong Shing Vincent Mr. Shin Yick Fabian

(appointed on 30 September 2016)

Mr. Mu Binrui (appointed on 26 January 2017) Mr. Lam Allan Loc (appointed on 26 January 2017) Mr. Pang Chung Fai Benny (re-designated as

Executive Director on 26 January 2017)

Mr. Yeung Wai Fai Andrew (appointed on 2 June 2016 and resigned on 30 September 2016)

Mr. Wan Tak Shing (resigned on 2 June 2016)

AUTHORISED REPRESENTATIVES

Ms. Lau Wing Sze

Mr. Wong Kwok Ming

COMPANY SECRETARY

Mr. Wong Kwok Ming (appointed on 1 April 2016)

Mr. Tung Sze Ho Dicky (appointed on 1 March 2016 and resigned on 1 April 2016)

AUDIT COMMITTEE

Mr. Shin Yick Fabian (Chairman) (appointed on 30 September 2016)

Mr. Loo Hong Shing Vincent

Mr. Lam Allan Loc (appointed on 26 January 2017)

Mr. Pang Chung Fai Benny (re-designated as Executive Director and ceased to be a member of Audit Committee on 26 January 2017)

Mr. Yeung Wai Fai Andrew (Chairman) (appointed on 2 June 2016 and resigned on 30 September 2016)

Mr. Wan Tak Shing

(Chairman) (resigned on 2 June 2016)

REMUNERATION COMMITTEE

Mr. Loo Hong Shing Vincent (Chairman)

Mr. Shin Yick Fabian (appointed on 30 September 2016)

Mr. Lam Allan Loc (appointed on 26 January 2017)

Mr. Pang Chung Fai Benny (re-designated as Executive Director and ceased to be a member of Remuneration Committee on 26 January 2017)

Mr. Yeung Wai Fai Andrew (appointed on 2 June 2016 and resigned on 30 September 2016)

Mr. Wan Tak Shing (resigned on 2 June 2016)

NOMINATION COMMITTEE

Mr. Lam Allan Loc (Chairman) (appointed on 26 January 2017)

Mr. George Lu

Mr. Loo Hong Shing Vincent

Mr. Pang Chung Fai Benny (re-designated as Executive Director and ceased to be a member and Chairman of Nomination Committee on 26 January 2017)

CORPORATE GOVERNANCE COMMITTEE

Mr. Wong Kwok Ming (Chairman)

Ms. Lau Wing Sze Ms. Lu Qinzhen

REGISTERED OFFICE

PO Box 309, Ugland House, Grand Cayman, KY1- 1104, Cayman Islands

2 Huabang Financial Holdings Limited

CORPORATE INFORMATION HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS

29th Floor

Enterprise Square Two 3 Sheung Yuet Road Kowloon Bay Kowloon, Hong Kong

PRINCIPAL BANKERS

Bank of China (Hong Kong) Limited

Bank of Communications Co. Ltd. Hong Kong Branch Standard Chartered Bank (Hong Kong) Limited

DBS Bank (Hong Kong) Limited Dah Sing Bank, Limited

OCBC Wing Hang Bank Limited

PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE IN THE CAYMAN ISLANDS

Maples Fund Services (Cayman) Limited PO Box 1093, Boundary Hall

Cricket Square

Grand Cayman, KY1-1102 Cayman Islands

BRANCH SHARE REGISTRAR AND TRANSFER OFFICE IN HONG KONG

Tricor Investor Services Limited Level 22, Hopewell Centre 183 Queen's Road East Wanchai

Hong Kong

LEGAL ADVISERS TO THE COMPANY

As to Hong Kong law Angela Ho & Associates Unit 1405, 14/F

Tower 1, Admiralty Centre 18 Harcourt Road

Hong Kong

As to Cayman Islands law

Maples and Calder (Hong Kong) LLP 53rd Floor, The Center

99 Queen's Road Central Hong Kong

AUDITOR

PricewaterhouseCoopers Certified Public Accountants 22nd Floor, Prince's Building Central

Hong Kong

STOCK CODE

3638

COMPANY WEBSITE ADDRESS

www.huabangfinancial.com

(information contained in this website does not form part of this report)

Annual Report 2017 3