Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
࠰ಥʹʿഐၑהϞࠢʮ̡ʿ࠰ಥᑌΥʹהϞࠢʮ̡࿁͉ʮбʘʫ࢙฿ʔࠋபd࿁Չᆽאҁ ͵ʔ೯ڌОᑊdԨᆽڌͪd฿ʔ࿁Ϊ͉ʮбΌאОʱʫ࢙Ͼପ͛אΪ፠༈ഃʫ࢙Ͼ ˏߧʘОฦ̰וዄОபf
PROSPERITY INVESTMENT HOLDINGS LIMITED ྗ ආ ҳ ༟ ყ Ϟ ࠢ ʮ ̡*
(Incorporated in Bermuda with limited liability)
(於百慕達註冊成立之有限公司)
(Stock Code: 310)
(股份代號: 310)
2020 FINAL RESULTS 2020ϋΌϋุᐶ
The Board announces the audited results of the Group for the Year.
ԫึʮб͉ණྠ͉ϋܓʘᄲุࣨᐶf
* For identification purpose only
* සԶᗆй
Consolidated Statement of Profit or Loss and Other Comprehensive Income 綜合損益及其他全面收益表
2020 | 2019 | |||
Notes | HK$'000 | HK$'000 | ||
ڝൗ | ɷಥʩ | ɷಥʩ | ||
Gross proceeds from operations | ᐄהಛධᐼᕘ | 3 | 19,383 | 11,752 |
Revenue | ϗɝ | 3 | 2,260 | 3,313 |
Other gains and losses | Չ˼ϗूʿᑦฦ | 4 | (42,772) | (59,407) |
Other income | Չ˼ϗɝ | 5 | 325 | 258 |
Administrative expenses | Б݁ක˕ | (14,947) | (11,217) | |
Investment management expenses | ҳ༟၍ଣක˕ | (7,200) | (7,200) | |
Finance costs | ৌਕϓ͉ | 6 | (4,310) | (4,243) |
Loss before income tax | ৰהۃᑦฦ | (66,644) | (78,496) | |
Income tax expense | הක˕ | 7 | - | - |
Loss for the year attributable to owners of the | ͉ʮ̡ኹϞɛᏐЦϋܓ | |||
Company | ᑦฦ | 8 | (66,644) | (78,496) |
Other comprehensive expense: | Չ˼Όࠦක˕j | |||
Item that will not be reclassified subsequently | ՉܝʔึࠠอʱᗳЇฦूٙ | |||
to profit or loss: | ධ ͦj | |||
Fair value gain/(loss) on financial assets at fair value | ܲʮ̻࠽ࠇɝՉ˼Όࠦϗूʘ | |||
through other comprehensive income | ږፄ༟ପʮ̻࠽ϗूŊ€ᑦฦ | 14,350 | (20,382) | |
Total comprehensive expense for the year | ͉ʮ̡ኹϞɛᏐЦϋܓ | |||
attributable to owners of the Company | Όࠦක˕ᐼᕘ | (52,294) | (98,878) | |
Loss per share | ӊٰᑦฦ | |||
- Basic (HK cents) | - ਿ ͉€ಥ ̀ | 9 | (5.50) | (6.48) |
Consolidated Statement of Financial Position 綜合財務狀況表
As at 31 December 2020 於2020年12月31日
2020 | 2019 | |||
Notes | HK$'000 | HK$'000 | ||
ڝൗ | ɷಥʩ | ɷಥʩ | ||
ASSETS AND LIABILITIES | ༟ପʿࠋව | |||
Non-current assets | ڢݴਗ༟ପ | |||
Plant and equipments | ᅀגʿண௪ | 193 | 619 | |
Right-of-use assets | Դ͜ᛆ༟ପ | 163 | 490 | |
Financial assets at fair value through other | ܲʮ̻࠽ࠇɝՉ˼Όࠦϗूʘ | |||
comprehensive income | ږፄ༟ପ | 44,056 | 29,706 | |
Financial assets at fair value through | ܲʮ̻࠽ࠇɝฦूʘ | |||
profit or loss | ږፄ༟ପ | 14,469 | 21,222 | |
58,881 | 52,037 | |||
Current assets | ݴਗ༟ପ | |||
Financial assets at fair value through | ܲʮ̻࠽ࠇɝฦूʘ | |||
profit or loss | ږፄ༟ପ | 55,470 | 106,100 | |
Other receivables | Չ˼Ꮠϗሪධ | 685 | 6,240 | |
Cash held by securities brokers | ᗇՎߏܵϞʘତږ | 6,404 | 2,280 | |
Bank balances and cash | ვБഐቱʿତږ | 8,228 | 26,448 | |
70,787 | 141,068 | |||
Current liabilities | ݴਗࠋව | |||
Loan from a securities broker | ԸІᗇՎߏʘ൲ಛ | 10 | 38,750 | 49,884 |
Other payable and accruals | Չ˼Ꮠ˹ሪධʿᏐࠇሪධ | 1,821 | 1,500 | |
Lease liabilities | ॡ༣ࠋව | 176 | 330 | |
40,747 | 51,714 | |||
Net current assets | ݴਗ༟ପଋ࠽ | 30,040 | 89,354 | |
Total assets less current liabilities | ༟ପᐼ࠽ಯݴਗࠋව | 88,921 | 141,391 | |
Non-current liabilities | ڢݴਗࠋව | |||
Lease liabilities | ॡ༣ࠋව | - | 176 | |
Net assets | ༟ପଋ࠽ | 88,921 | 141,215 | |
Capital and reserves | ༟͉ʿᎷ௪ | |||
Share capital | ٰ͉ | 11 | 30,283 | 30,283 |
Reserves | Ꮇ௪ | 58,638 | 110,932 | |
Total equity | ٰ͉ᐼ࠽ | 88,921 | 141,215 | |
Net Asset Value per Share (HK$) | ӊٰ༟ପଋ࠽€ಥʩ | 12 | 0.07 | 0.12 |
- 3 - |
Notes to the Consolidated Financial Statements 綜合財務報表附註
1. Adoption of New and Amended HKFRSs | મॶอࠈʿࡌࠈ࠰ಥৌ |
ਕజѓۆ | |
Amended HKFRSs that are effective for annual | 2020 ϋ 1 ˜ 1 ˚කʘϋܓ |
periods beginning on 1 January 2020 | ಂග͛ࣖʘࡌࠈ࠰ಥৌਕ |
జѓۆ | |
In the Year, the Group has applied for the first time the following amended | ͉ϋܓd͉ණྠʊϣᏐ͜ɨΐ͟࠰ಥ |
HKFRSs issued by the HKICPA, which are relevant to the Group's operations | ึࠇࢪʮึбၾ͉ණྠᐄ༶Ϟᗫ˲ |
and effective for the Group's consolidated financial statements for the | ͉ණྠ 2020 ϋ 1 ˜ 1 ˚කʘϋܓಂග |
annual period beginning on 1 January 2020: | ʘၝΥৌਕజڌ͛ࣖʘࡌࠈ࠰ಥৌਕ |
జѓۆj |
Amendments to HKAS 1 and HKAS 8
Amendments to HKFRS 3
Amendments to HKFRS 9,
HKAS 39 and HKFRS 7
Definition of a BusinessInterest Rate Benchmark ReformDefinition of Material
࠰ಥৌਕజѓۆ ୋ 3 ʘࡌࠈ ࠰ಥৌਕజѓۆ ୋ 9 e࠰ಥึࠇ ۆୋ 39 ʿ ࠰ಥৌਕజѓۆ ୋ 7 ʘࡌࠈ ࠰ಥึࠇۆୋ 1 ʿ࠰ಥึࠇۆ ୋ 8 ʘࡌࠈ
ุਕʘ່֛
лଟਿҷࠧ
ࠠɽʘ່֛
The adoption of these amended HKFRSs had no material impact on how | મॶ༈ഃࡌࠈ࠰ಥৌਕజѓۆ࿁͉ |
the results and financial position for the current and prior periods have | ಂගʿཀֻಂගุᐶʿৌਕًرʘᇜႡ |
been prepared and presented. | ʿяΐ˙όԨೌிϓОࠠɽᅂᚤf |
2. Segment Information | 2. | ʱᗳ༟ࣘ |
HKFRS 8 requires operating segments to be identified on the basis of | ࠰ಥৌਕజѓۆୋ 8 ࠅӋܲϞᗫ˴ | |
internal reports about components of the Group that are regularly reviewed | ࠅᐄӔഄ٫€у͉ʮ̡ԫᐼଣ֛ | |
by the CODM, being the managing director of the Company, in order to | ಂᏨীʘ͉ණྠϓ΅ʘʫజѓਿᗆ | |
allocate resources and to assess performance. The CODM reviews the | йᐄʱᗳd˸ʱৣ༟๕ʿ൙Пڌତf | |
Group's investment portfolio and profit or loss as a whole, which is | ˴ࠅᐄӔഄ٫Ꮸী͉ණྠʘҳ༟ | |
determined in accordance with the Group's accounting policies, for | ଡ଼Υʿ๐лאᑦฦ€࣬ኽ͉ණྠʘึࠇ | |
performance assessment, accordingly no operating segment information is | ݁ഄᔾ֛˸ආБڌତ൙ПdΪϤdԨೌ | |
presented. | яΐᐄʱᗳ༟ࣘf | |
Geographic information | ήଣ༟ࣘ | |
The Group's revenue is generated from, and non-current assets (other than | ͉ණྠʘϗɝԸІ࠰ಥdϾՉڢݴਗ༟ | |
financial instruments) are located in, Hong Kong. | ପ€ৰږፄʈՈ̮͵З࠰ಥf | |
Dividend income from the Group's investments contributing over 10% of | ࿚Ї 2020 ϋʿ 2019 ϋ 12 ˜ 31 ˚˟ϋܓd | |
the Group's total revenue during the year ended 31 December 2020 and | Ц͉ණྠᐼϗɝ 10% ˸ɪʘ͉ණྠҳ༟ | |
2019 are as follows: | ٰࢹϗɝνɨj | |
3. |
2020 HK$'000 ɷಥʩ
Investee A Investee B
ટաҳ༟ʮ̡A ટաҳ༟ʮ̡B
3. Gross Proceeds from Operation/Revenue
1,147 975
2019 HK$'000 ɷಥʩ
3,111 N/A ʔቇ͜
ᐄ༶הಛධᐼᕘŊϗɝ
The following table shows the gross proceeds from disposal of financial assets at FVTPL which are revenue in nature for tax purposes and the revenue of the Group which represents the dividend income:
ɨڌᜑͪ̈ਯܲʮ̻࠽ࠇɝฦूʘږፄ ༟ପ€ఱਕϾԊމϗूሯʘהಛ ධᐼᕘ˸ʿ͉ණྠʘϗɝdٰܸࢹϗɝj
2020 HK$'000 ɷಥʩ
2019 HK$'000 ɷಥʩ
Gross proceeds from disposal of financial assets at ̈ਯܲʮ̻࠽ࠇɝฦूʘږፄ༟ପ
FVTPL which are revenue in nature for tax purposes
Dividend income
€ఱਕϾԊމϗूሯʘה ಛධᐼᕘ ٰࢹϗɝ
Revenue represents dividend income of HK$2,260,000 (2019:
HK$3,313,000).
17,123 8,439
2,260 3,313
19,383 11,752
ϗɝٰܸࢹϗɝ 2,260,000 ಥʩ€ 2019 ϋj3,313,000 ಥ ʩf
4. Other Gains and Losses | Չ˼ϗूʿᑦฦ |
2020 | 2019 |
HK$'000 | HK$'000 |
ɷಥʩ | ɷಥʩ |
Fair value changes of financial assets at FVTPL |
ܲʮ̻࠽ࠇɝฦूʘږፄ༟ପʮ̻ ࠽ᜊਗ
- capital in nature for tax purpose | - ఱਕϾԊމ༟͉ሯ | (6,753) | (3,838) |
- revenue in nature for tax purpose | - ఱਕϾԊމϗूሯ | (36,019) | (55,492) |
(42,772) | (59,330) | ||
Net exchange losses | ଋිгᑦฦ | - | (77) |
(42,772) | (59,407) |
The fair value changes of financial assets at FVTPL comprised of net realised | ܲʮ̻࠽ࠇɝฦूʘږፄ༟ପʮ̻࠽ | |
losses for disposal of financial assets at FVTPL of HK$16,526,000 (2019: | ᜊਗܼ̍̈ਯܲʮ̻࠽ࠇɝฦूʘږ | |
HK$1,858,000) and unrealised losses of HK$26,246,000 (2019: | ፄ༟ପʘʊᜊତଋᑦฦ 16,526,000 ಥʩ | |
HK$57,472,000). | €2019 ϋj1,858,000 ಥʩʿ͊ᜊତᑦฦ | |
26,246,000ಥʩ€2019ϋj57,472,000ಥʩf | ||
5. Other Income | 5 | Չ˼ϗɝ |
2020 HK$'000 ɷಥʩ
2019 HK$'000 ɷಥʩ
Bank interest income Government subsidies (Note)
ვБлࢹϗɝ ִ݁൨€ڝൗ
1 324
258 -
325
258
Note: Government subsidies for the Year represents subsidies from the government of Hong Kong under the Employment Support Scheme.
ڝൗj͉ϋܓִ݁൨ܸԸІ࠰ಥִ݁࣬ኽ ڭఱุࠇྌԶʘ൨f
6. Finance Costs
6. ৌਕϓ͉
7. Income Tax Expense
Interest on loan from a securities broker Interest expenses of lease liabilities
ԸІᗇՎߏʘ൲ಛлࢹ ॡ༣ࠋවʘлࢹක˕
2020 | 2019 |
HK$'000 | HK$'000 |
ɷಥʩ | ɷಥʩ |
4,280 | 4,201 |
30 | 42 |
4,310 | 4,243 |
7. | הක˕ |
No provision for Hong Kong Profits Tax is made since there was no | ͉͟ණྠՇࡈϋܓѩೌପ͛Ꮠሙ |
assessable profit for both years. | ๐лd݂Ԩೌఱ࠰ಥлЪ̈ᅡ௪f |
At Year End Date, the Group has unused tax losses of HK$418,093,000 | ϋഐ˚d͉ණྠʘ͊ਗ͜ධᑦฦ |
(2019: HK$360,911,000) available for offset against future profits. No | 418,093,000 ಥʩ€ 2019 ϋj360,911,000 ಥ |
deferred tax asset has been recognised due to the unpredictability of future | ʩ̙͜תቖ͊Ը๐лf͊͟Ը๐л |
profit streams. The tax losses are subject to the agreement from the Hong | ݴඎʔ̙ཫd݂ԨೌᆽႩַධ༟ |
Kong Inland Revenue Department and may be carried forward indefinitely. | ପfධᑦฦܙ࠰ಥਕ҅Νจ˲̙ |
ೌࠢಂוۃഐᔷf |
8. Loss for the Year
8. ϋܓᑦฦ
Loss for the year has been arrived at after charging:
ϋܓᑦฦʊϔৰɨΐධj
2020 HK$'000 ɷಥʩ
2019 HK$'000 ɷಥʩ
(a) Staff costs (including directors'
remuneration)
Salaries, wages and other benefits
Discretionary bonus
Contributions to defined contribution
retirement plans
(a) ࡰʈϓ͉€ܼ̍ԫᑚཇ
ᑚږeʈ༟ʿՉ˼၅л ઋڀߎ ޢ֛Զಛৗ;ࠇྌʘ
Զಛ
(b) Other items
Depreciation, included in administrative
expenses:
- Owned assets
- Right-of-use assets
Auditors' remuneration
Impairment loss on earnest money deposit
Loss on written off of plant and equipments
Short term lease with lease term less than 12
months
(b) Չ˼ධͦ
4,100 3,992
311 286
199 199
4,610 4,477
Б݁ක˕ධͦɨʘұᔚj
- ІϞ༟ପ - Դ͜ᛆ༟ପ
ࣨᅰࢪཇږ
༐จږಯ࠽ᑦฦ ቖᅀגʿண௪ʘᑦฦ ॡಂˇ 12 ࡈ˜ʘಂॡ༣
438 456
327 244
870 850
4,870 - -
- 12 600
9. Loss Per Share | 9. | ӊٰᑦฦ |
The calculation of basic loss per share attributable to the owners of the | ͉ʮ̡ኹϞɛᏐЦӊٰਿ͉ᑦฦɗܲ˸ | |
Company is based on the following data: | ɨᅰኽࠇၑj |
2020
2019
Loss attributable to owners of the Company
(HK$'000)
͉ʮ̡ኹϞɛᏐЦᑦฦ€ɷಥʩ
(66,644)
(78,496)Weighted average number of ordinary shares in issue for the purposes of loss per share
(in thousands)
ࠇၑӊٰᑦฦʘʊ೯Б౷ஷٰ ̋ᛆ̻ѩᅰ€ɷٰ
1,211,320
1,211,320
The diluted loss per share is the same as basic loss per share as there was | ͟༈ՇࡈϋܓԨೌ೯Бί̮ʘᆑίᛅ |
no potential dilutive ordinary share outstanding during both years. | ᑛ౷ஷٰd݂ӊٰᛅᑛᑦฦၾӊٰਿ͉ |
ᑦฦΝf | |
10. Loan from a Securities Broker | 10. ԸІᗇՎߏٙ൲ಛ |
At Year End Date, the margin loan from a securities broker was secured by | ϋഐ˚dԸІᗇՎߏʘៜ࢝൲ಛɗ |
a portfolio of financial assets at FVTPL held under the margin account, with | ͟ៜ࢝ሪ˒ධɨܵϞʘܲʮ̻࠽ࠇɝฦ |
a total market value of approximately HK$57,898,000 (2019: | ूʘږፄ༟ପʘଡ଼Υהתץdᐼ̹࠽ߒ |
HK$106,768,000). The Group's margin loan has no determined maturity | މ 57,898,000 ಥʩ€ 2019 ϋj106,768,000 |
date and is subject to interest specified from time to time by the securities | ಥʩf͉ණྠʘៜ࢝൲ಛԨೌᔾ֛Ց |
broker. The maximum amount of the margin loan granted by the securities | ಂ˚dԨܲᗇՎߏʔܸ֛ࣛʘлଟ |
broker depends on the market value of the assets pledged with the | ࠇࢹfᗇՎߏબʚʘៜ࢝൲ಛʘ௰৷ |
securities broker. The effective interest rate for the Year is 9.65% (2019: | ږᕘ՟ӔሯץʚᗇՎߏʘ༟ପʘ̹ |
9.65%) per annum. The finance cost for the Year is set out in note 6. | ఙᄆ࠽f͉ϋܓʘྼყϋлଟމ 9.65% |
€2019 ϋj9.65% f͉ϋܓৌਕϓ͉༱ | |
ΐڝൗ 6f |
11. Share Capital
11. ٰ͉
Number of shares ٰ΅ᅰͦ
Nominal value ࠦ࠽
HK$'000 ɷಥʩ
Ordinary shares of HK$0.025 each
ӊٰࠦ࠽ 0.025 ಥʩʘ౷ஷٰ
Authorised:
At 31 December 2019 and 2020
ج ֛j
2019 ϋʿ 2020 ϋ 12 ˜ 31˚
4,000,000,000 100,000
At 31 December 2019 and 2020
Issued and fully paid:
ʊ೯Бʿʊᖮԑj 2019 ϋʿ 2020 ϋ 12 ˜ 31˚
1,211,320,200 30,283
12. Net Asset Value Per Share
12. ӊٰ༟ପଋ࠽
Net Asset Value per share is computed based on the net assets value of HK$88,921,000 (2019: HK$141,215,000) and 1,211,320,200 (2019: 1,211,320,200) issued and fully paid Shares at the Year End Date.
ӊٰ༟ପଋ࠽ɗܲϋഐ˚ʘ༟ପଋ࠽ 88,921,000 ಥʩ€ 2019 ϋj141,215,000 ಥ ʩʿʊ೯Бʿʊᖮԑʘ 1,211,320,200 ٰ €2019 ϋj1,211,320,200 ٰٰ΅ࠇၑf
Management Discussion 管理層論述
Business Review
Market Review
With the outbreak of COVID-19 in late December of Year 2019, quarantine measures have been imposed by major economies which include travel restriction and lockdown of cities during the Year. The living of peoples was seriously affected and business activities of various business sectors were interfered by the measures which in turn affected the stock markets for the Year.
ุਕΫᚥ ̹ఙΫᚥ
ᎇഹ 2019 ϋ 12 ˜ɨϚᖑ೯ COVID-19 ޥઋd ͉ϋܓd˴ࠅྼ݄၇Ꮸޥણ݄dܼ̍ ࣚ ༷ ࠢ Փ ʿ ܆ ۬f༈ ഃ ણ ݄ ˿ ̹ ͏ ɽ ٙ ͛ ݺ ա Ց ᘌ ࠠ ᅂ ᚤdϾ ਠ ุ ޢ й ٙ ุ ਕ ݺ ਗ ͵աՑᖟdᘱϾᅂᚤ͉ϋܓٰٙୃ̹ఙf
Although various business sectors were affected by COVID-19, the research and development of vaccine and peoples spent more time at home led to the booming of new economy stocks (mainly medicine related and tech stocks providing online platform) near the end of the Year.
ኋ၍ਠุޢйѩաՑ COVID-19 ᅂᚤdઓޥ ߴ೯ʿɛࡁίࣛගᄣ̋ኬߧᑗڐϋֵࣛ อٰ€˴ࠅމᔼᖹᗫʿԶၣഖ̨̻ٙ ߅Ҧٰڌତf
Operational Review
During the Year, the Group continued its investment activities in both listed and unlisted investments and other related financial assets. Those investments which are held for revenue in nature for tax purpose are held for trading in nature. While those investments which are held for capital in nature for tax purpose are held for long term in nature.
ᐄΫᚥ
͉ ϋ ܓd͉ ණ ྠ ᘱ ᚃ ආ Б ɪ ̹ ʿ ڢ ɪ ̹ ҳ ༟ ʿ Չ ˼ ᗫ ږ ፄ ༟ ପ ʘ ҳ ༟ ݺ ਗfܵ Ъ ఱ ਕϾԊމϗूሯٙϞᗫҳ༟ɗމ൯ር ሯ Ͼ ܵ ϞdϾ ܵ Ъ ఱ ਕ Ͼ Ԋ ᙮ ༟ ͉ ሯ ٙ Ϟᗫҳ༟ۆމڗಂሯϾܵϞf
As mentioned in market review section, the stock market was affected by the COVID-19 and hence the listed investments of the Group incurred a further unrealized loss at Year End Date.
ν̹ఙΫᚥɓືהࠑdٰ̹ա COVID-19 ᅂ ᚤd ݂͉ණྠٙɪ̹ҳ༟ϋഐ˚ପ͛ආɓӉ͊ ᜊତᑦฦf
During the Year, we had disposed of certain loss-making listed investments so that the gross proceeds from the disposal of financial assets at FVTPL which are revenue in nature had been increased from that of last year.
͉ϋܓdҢࡁʊ̈ਯ߰ʍஈᑦฦٙɪ̹ ҳ༟dԴ̈ਯܲʮ̻࠽ࠇɝฦूʘږፄ༟ପ ʘהಛධᐼᕘ€᙮ϗूሯ༰̘ϋϞהᄣ ̋f
Other than the listed investments, the Group did not have new unlisted investment during the Year.
ৰɪ̹ҳ༟̮d͉ණྠ͉ϋܓԨ͊ආБอ ٙڢɪ̹ҳ༟f
Financial Review
Results for the Year
The Group reported a loss after tax of approximately HK$67 million for the Year which is similar to the loss of HK$78 million for Year 2019. Other than the administrative expenses, investment management expense and finance costs which were rather stable, the loss for the Year was mainly due to the following reasons:
ৌਕΫᚥ ͉ϋܓุᐶ
͉ණྠ͉ϋܓৰܝᑦฦߒ 6,700 ຬಥ ʩdၾ 2019 ϋϋܓٙᑦฦ 7,800 ຬಥʩ߰f ৰБ݁ක˕eҳ༟၍ଣක˕ʿৌਕϓ͉ ᖢ֛̮d͉ϋܓٙᑦฦ˴ࠅ͟˸ɨࡡΪj
(i) a loss of approximately HK$36 million (Year 2019: HK$55 million) arose from the change in fair value of revenue in nature listed equity investments at FVTPL which was caused by the fluctuation of the stock market. This loss of HK$36 million included a realised loss of approximately HK$17 million (Year 2019: HK$2 million);
(i) Ϊٰ̹تਗd᙮ϗूሯʘܲʮ̻࠽ࠇ ɝฦूʘɪٰ̹͉ҳ༟ʮ̻࠽ᜊਗପ͛ ᑦฦߒ 3,600 ຬಥʩ€ 2019 ϋϋܓj 5,500 ຬ ಥ ʩf༈ 3,600 ຬಥʩᑦฦܼ̍ʊᜊ ତᑦฦߒ 1,700 ຬಥʩ€ 2019 ϋϋܓj 200 ຬಥʩi
(ii) a loss of approximately HK$7 million (Year 2019: HK$4 million) arose from the change in fair value of capital in nature listed equity investments at FVTPL which was caused by the fluctuation of the stock market. This loss of HK$7 million included no realised loss (Year 2019: HK$0.06 million); and
(ii) Ϊٰ̹تਗd᙮༟͉ሯʘܲʮ̻࠽ࠇ ɝฦूʘɪٰ̹͉ҳ༟ʮ̻࠽ᜊਗପ͛ ᑦฦߒ 700 ຬಥʩ€ 2019 ϋϋܓj 400 ຬ ಥ ʩ f ༈ 700 ຬಥʩᑦฦԨೌܼ̍ʊᜊ ତᑦฦ€ 2019 ϋϋܓj 6 ຬ ಥ ʩiʿ
(iii) an impairment loss of approximately HK$5 million on earnest money deposit for a potential investment project (Year 2019: nil).
(iii) Ϟᗫɓධᆑίҳ༟ධͦٙ༐จږಯ࠽ᑦ ฦߒ 500 ຬಥʩ€ 2019 ϋ ϋ ܓjཧf
Gross proceeds from operation
ᐄ༶הಛධᐼᕘ | |
2020 | 2019 |
HK$'000 | HK$'000 |
ɷಥʩ | ɷಥʩ |
Gross proceeds from disposal of financial assets at | ̈ਯܲʮ̻࠽ࠇɝฦूʘږፄ༟ପ | ||
FVTPL which are revenue in nature for tax purposes | €ఱਕϾԊމϗूሯʘה | ||
ಛධᐼᕘ | 17,123 | 8,439 | |
Dividend income | ٰࢹϗɝ | 2,260 | 3,313 |
19,383 | 11,752 |
As mentioned in the business review section above, we had disposed of certain loss-making listed investments so that the gross proceeds from the disposal of financial assets at FVTPL which are revenue in nature had been increased from that of Year 2019.
༐ ν ɪ ˖ ุ ਕ Ϋ ᚥ ɓ ື ה ࠑdҢ ࡁ ʊ ̈ ਯ ߰ ʍ ஈ ᑦ ฦ ٙ ɪ ̹ ҳ ༟dԴ ̈ ਯ ܲ ʮ ̻ ࠽ ࠇ ɝฦूʘږፄ༟ପ€᙮ϗूሯʘהಛධ ᐼᕘ༰ 2019 ϋϋܓϞהᄣ̋f
Other gains and losses | Չ˼ϗूʿᑦฦ |
Other gains and losses mainly comprise of fair value loss of financials assets at | Չ˼ϗूʿᑦฦ˴ࠅܼ̍ܲʮ̻࠽ࠇɝฦू |
FVTPL which is analysed in the table below: | ʘ ږ ፄ ༟ ପ ʘ ʮ ̻ ࠽ ᑦ ฦdՉ ɨ ڌ ʕ Ъ ̈ |
ʱ ؓj | |
For tax purpose | |
ఱਕϾԊ |
Revenue in nature ϗूሯ
HK$'000 ɷಥʩ
Capital in nature ༟͉ሯ
HK$'000 ɷಥʩ
Total ᐼᕘ
HK$'000 ɷಥʩ
2020 Realised loss Unrealised loss
2020 ϋ ʊᜊତᑦฦ ͊ᜊତᑦฦ
(16,526) (19,493)
- (16,526)
(6,753) (26,246)
(36,019)
(6,753) (42,772)
2019 Realised loss Unrealised loss
2019 ϋ ʊᜊତᑦฦ ͊ᜊତᑦฦ
(1,801) (53,691)
(57) (1,858)
(3,781) (57,472)
(55,492)
(3,838) (59,330)Please refer to results for the Year section above and note 4 for analysis and details.
Չʱؓʿ༉ઋሗਞɪࠑ͉ϋܓุٙᐶ΅ ʿ༱ڝൗ 4f
Other Income
Other income for the Year mainly comprises of HK$324,000 (Year 2019: nil) government subsidies received from the government of Hong Kong under the Employment Support Scheme.
Չ˼ϗɝ
͉ϋܓՉ˼ϗɝ˴ࠅܼ̍ԸІϗ՟࠰ಥִ݁ ࣬ኽڭఱุࠇྌԶʘ 324,000 ಥ ʩ€ 2019 ϋ ϋ ܓjཧ݁ ִ ൨f
Administrative expenses
Administrative expenses include an impairment loss on earnest money deposit of HK$4,870,000 (Year 2019: nil).
Б݁ක˕
Б݁ක˕ܼ̍༐จږಯ࠽ᑦฦ 4,870,000 ಥʩ €2019 ϋ ϋ ܓjཧf
Among the administrative expenses (excluding the impairment loss on earnest money deposit), staff remuneration of HK$4,286,000 (Year 2019: HK$4,199,000) is the largest expenses which represents approximately 42% (Year 2019: 37%) of the administrative expenses. Employees are regarded as the most valuable asset and the Group is aimed to reward the staff with competitive remuneration package.
Б݁ක˕€ʔܼ̍༐จږಯ࠽ᑦฦʕd 4,286,000 ಥʩ€ 2019 ϋϋܓj 4,199,000 ಥ ʩ ٙ ࡰʈᑚཇމ௰ɽක˕dՉЦБ݁ක˕ߒ 42% €2019 ϋϋܓj 37% fࡰʈɗ͉ණྠ௰Ϟᄆ࠽ ٙ ༟ ପdϾ ͉ ණ ྠ ϙ ί ˸ Ո ᘩ ن ɢ ٙ ᑚ ཇ ܙ ༾ᆤᎸࡰʈf
Investment management expenses
Investment management expense of HK$7,200,000 (Year 2019: HK$7,200,000) represents expense paid to the investment manager for the provision of investment management services to the Group.
ҳ༟၍ଣක˕
ҳ༟၍ଣක˕7,200,000ಥʩ€2019ϋϋܓj7,200,000 ಥʩ˾ڌΪΣ͉ණྠԶҳ༟၍ଣਕϾ˕ ˹ʚҳ༟ଣٙක˕f
Finance cost
Finance cost includes interest payment to a securities broker for provision of margin loan and interest expenses of lease liabilities.
ৌਕϓ͉
ৌਕϓ͉ܼ̍ఱԶៜ࢝൲ಛΣᗇՎߏ˕ ˹ٙлࢹ˸ʿॡ༣ࠋවٙлࢹක˕f
In order to better utilise the resources, the Group used margin loan provided by a securities broker for its investment in listed equity securities since 2017. At Year End Date, the margin loan from a securities broker amounted to approximately HK$38,750,000 (Year 2019: HK$49,884,000) and the related interest expenses was approximately HK$4,280,000 (Year 2019: HK$4,201,000). As mentioned above, the loss-making listed investments were mainly disposed of near the year end. Hence, the interest payments for both years are similar but the margin loan balance at Year End Date was lower than that of Year 2019.
މһഛ͜༟๕d͉ණྠІ 2017 ϋৎਗ͜ᗇՎ ߏԶٙៜ࢝൲ಛҳ༟ɪٰ̹͉ᗇՎf ϋഐ˚dԸІᗇՎߏʘៜ࢝൲ಛߒމ 38,750,000 ಥʩ€ 2019 ϋϋܓj 49,884,000 ಥ ʩʿᗫлࢹක˕ߒމ 4,280,000 ಥ ʩ€ 2019 ϋϋܓj 4,201,000 ಥʩfνɪ˖הࠑdஈ ᑦฦٙɪ̹ҳ༟˴ࠅᑗڐϋ͋ࣛ̈ਯfΪ ϤdՇࡈϋܓٙлࢹ˹ಛ߰dઓϋഐ˚ٙ ៜ࢝൲ಛቱᕘЭ 2019 ϋϋܓf
At Year End Date, the lease liabilities of the Group amounted to approximately HK$176,000 (Year 2019: HK$506,000) and the related interest expenses was approximately HK$30,000 (Year 2019: HK$42,000).
ϋഐ˚d͉ණྠٙॡ༣ࠋවߒމ 176,000 ಥʩ €2019 ϋϋܓj 506,000 ಥʩʿᗫлࢹක˕ ߒމ 30,000 ಥ ʩ€ 2019 ϋϋܓj 42,000 ಥ ʩf
Liquidity and Financial Resources
At Year End Date, the Group had: (i) cash and cash equivalent of approximately HK$14,632,000 (Year 2019: HK$28,728,000); and (ii) a loan of approximately HK$38,750,000 (Year 2019: HK$49,884,000) from a securities broker for margin financing of listed equity investments of the Group.
ݴਗ༟ږʿৌਕ༟๕
ϋഐ˚d͉ණྠϞ (i) ତږʿഃ࠽ତږධͦߒ 14,632,000ಥʩ€2019 ϋϋܓj 28,728,000 ಥ ʩi ʿ (ii) ԸІᗇՎߏϞᗫ͉ණྠɪٰ̹͉ҳ༟ ٙៜ࢝ፄ༟ٙ൲ಛߒ 38,750,000 ಥ ʩ€ 2019 ϋ ϋ ܓj 49,884,000 ಥ ʩf
In order to better utilize the resources, the Group used margin loan provided by a securities broker for the investment in listed equity investments since 2017. Details of the margin loan are set out in note 10.
މһഛ͜༟๕d͉ණྠІ 2017 ϋৎਗ͜ᗇՎ ߏԶٙៜ࢝൲ಛҳ༟ɪٰ̹͉ҳ༟f ៜ࢝൲ಛ༉ઋ༱ڝൗ 10f
Gearing ratio
The gearing ratio (total liabilities/total assets) at Year End Date was 31.42% (Year 2019: 26.87%).
༟͉ࠋවˢଟ
ϋഐ˚ʘ༟͉ࠋවˢଟ€ᐼࠋවŊᐼ༟ପމ 31.42%€2019 ϋϋܓj 26.87%f
Capital structure
It is the treasure policy in utilizing Shareholders' fund and internal resources primarily for the investing activities and daily operations of the Group. In order to preserve resources for potential investments and daily operations, the Group may also borrow from third parties when the circumstances thought fit. Funds are mainly kept in HK$ and will be translated into foreign currencies when necessary. The Group has no hedging policy.
༟͉ݖ
ৌਕ݁ഄމ˴ࠅлٰ͜؇༟ږձʫ༟๕͜ ͉ ණ ྠ ٙ ҳ ༟ ݺ ਗ ձ ˚ ੬ ༶ ᐄfމ ə ڭ π ԑ ༟ ๕ Ъ މ ᆑ ί ҳ ༟ ʿ ˚ ੬ ༶ ᐄ ͜ d͉ ණ ྠ ͵ ̙ ί ઋ ر Υ ቇ ࣛ Σ ୋ ɧ ˙ ࠾ ಛf༟ ږ ˴ ࠅ ˸ ಥ ʩ π ໄdԨ ึ ί Ϟ ც ࠅ ࣛ ᔷ ౬ މ ̮ ࿆f͉ණྠԨೌ࿁ә݁ഄf
Details of the margin loan are set out in note 10.
ៜ࢝൲ಛ༉ઋ༱ڝൗ 10f
Outlook
࢝ૐ
Following the roll out of vaccination campaign of major economies, the effect of COVID-19 is expected to be alleviated gradually over year 2021. The worldwide economies will be recovered and the performance of the businesses will be improved.
ᎇഹ˴ࠅ࢝කޥߴટ၇ࠇྌd COVID-19 ʘᅂᚤཫಂਗ਼ 2021 ϋӉᇠ༆fΌଢ ਗ਼ึܨూdϾุਕڌତ͵ਗ਼Ցҷഛf
Subsequent Events
ಂܝԫධ
There is no major event subsequent to Year End Date.
ϋഐ˚ܝ฿ೌ೯͛ࠠɽԫධf
Dividend
ٰࢹ
The Board do not recommend the payment of dividend for the Year (2019: nil).
ԫึʔܔᙄݼ೯͉ϋܓʘٰࢹ€ 2019 ϋj ೌf
Purchase, Sale or Redemption of Shares of the ᒅ൯ëਯאᛙΫ͉ʮٰ̡΅ Company
Neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Shares during the Year.
͉ʮ̡אՉОڝ᙮ʮ̡͉ϋܓʫ฿ೌᒅ ൯ëਯאᛙΫОٰ΅f
Corporate Governance
Άุ၍ط
The Company adopted all the code provisions in the CG Code as its own code on corporate governance practices.
͉ ʮ ̡ ʊ મ ॶ Ά ၍ ς ۆ ʘ Ό ς ۆ ૢ ˖dЪ މՉ͉ԒʘΆุ၍ط੬ςۆf
During the Year, the Company complied with the code provisions in the CG Code except for the following deviations:
͉ ϋ ܓd͉ ʮ ̡ ʊ ፭ ς Ά ၍ ς ۆ ʘ ς ۆ ૢ ˖dઓ˸ɨᕎ٫ৰ̮j
Under the code provision A.2.1 of the CG Code, the roles of chairman and chief executive should be separated and should not be performed by the same individual. Being the only executive Director, Mr. Cheng Hairong, the chairman of the Company, has assumed the role of chief executive officer of the Company as well. The Board believes that in light of the nature and scale of the Group's business operations, it is in the interest of the Group for Mr. Cheng Hairong to be the chairman and assume the role of chief executive officer of the Company at the same time, as it helps to ensure consistent leadership within the Group and enables more effective and efficient overall strategic planning for the Group. The Board considers that the balance of power and authority for the present arrangement will not be impaired and this structure will enable the Company to make and implement decisions promptly and effectively.
࣬ኽΆ၍ςۆʘςۆૢ˖ୋ A.2.1 ૢd˴ࢩʿ ௰ ৷ Б ݁ ɛ ࡰ ʘ ᔖ ਕ Ꮠ ʚ ˸ ਜ ʱdԨ ʔ Ꮠ ͟ Ν ɓ ɛ ዄ f͉ ʮ ̡ ˴ ࢩ ϓ ऎ ͛ Ъ މ ਬ ɓ ٙ ੂ Б ԫd͵ ዄ ͉ ʮ ̡ Б ݁ ᐼ ɓ ᔖ ٙԉЍfԫึڦdఱ͉ණྠุਕ༶Ъٙ ሯ ʿ ᅼ Ͼ Ԋd͟ Ϥ τ ર Ϟ п ᆽ ڭ ͉ ණ ྠ ٙჯኬ˙০ɓߧԨԴ͉ණྠଫྌһ Ո ࣖ ू ʿ ࣖ ଟd݂ ϓ ऎ ͛ Ν ࣛ ዄ ˴ ࢩ ʿዄ͉ʮ̡Б݁ᐼɓᔖٙԉЍୌΥ͉ණ ྠ л ूf ԫ ึ Ⴉ މ ͦ ۃ ٙ τ ર ਗ਼ ʔ ึ ۂ ࢮ ᛆ ɢ ʿ બ ᛆ Փ ፅdϾ Ϥ ݖ ͵ ਗ਼ ˿ ͉ ʮ ̡ ˸ʿࣛʿϞࣖήЪ̈ԨྼБӔഄf
Audit Committee
ᄲࣨ։ࡰึ
The Audit Committee has reviewed the annual results of the Group for the Year.
ᄲࣨ։ࡰึʊᄲቡ͉ණྠ͉ϋܓʘϋܓุᐶf
Model Code for Securities Transactions by ԫආБᗇՎʹʘᅺςۆ Directors
The Company adopted the Model Code as the codes of conduct regarding securities transactions by Directors and by relevant employees of the Company. All Directors have confirmed, following specific enquiries by the Company, that they fully complied with the Model Code and its code of conduct regarding directors' securities transactions throughout the Year.
͉ʮ̡ʊમॶᅺςۆЪމԫʿ͉ʮ̡ ᗫ ྇ ࡰ ආ Б ᗇ Վ ʹ ʘ ς ۆf ͉ ʮ ̡ Ъ ̈ Ո ݟ ༔ ܝdΌ ԫ ʊ ᆽ Ⴉ ־ ഃ ͉ ϋܓʫɓٜΌࠦ፭ςᅺςۆʿԫආБᗇ Վʹٙςςۆf
Closure of the Register of Members
ᅲ৾፬ଣٰ΅ཀ˒೮া
The register of members of the Company will be closed from 24 May 2021 to 28 May 2021, both days inclusive, during which period no transfer of shares will be registered. In order to determine the identity of the shareholders who are entitled to attend and vote at the annual general meeting, all duly completed transfer forms accompanied by the relevant share certificates must be lodged with the Company's Hong Kong branch share registrar, Tricor Secretaries Limited, at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong not later than 4:30 p.m. on 21 May 2021.
͉ʮ̡ਗ਼ 2021 ϋ 5 ˜ 24 ˚Ї 2021 ϋ 5 ˜ 28˚ €ܼ̍҈Շ˚ᅲ৾፬ଣٰ؇೮াdಂගਗ਼ʔ ึஈଣٰ΅ཀ˒೮া˓ᚃfމᔾ֛Ϟᛆ̈ࢩ ٰ ؇ ϋ ɽ ึ Ԩ ึ ɪ ҳ ୃ ʘ ٰ ؇ Ԓ ΅dה Ϟ ʊ ͍ ό ෬ Ѽ ʘ ཀ ˒ ڌ ࣸ ஹ Ν Ϟ ᗫ ٰ ୃd̀ ίʔ፰ 2021 ϋ 5 ˜ 21 ˚ɨʹ̬ࣛɧɤʱۃ ༺͉ʮ̡ʘ࠰ಥٰ΅ཀ˒೮াʱஈՙԳ। ࣣਠਕϞࠢʮ̡dήѧމ࠰ಥެΧɽ༸؇ 183 Υձʕː 54 ᅽf
Publication of Annual Report on the Websites of ᑌʹהʿ͉ʮ̡ၣ१ɪ̊೯
the Stock Exchange and the Company
ϋజ
The annual report for the Year will be published on the website of the Stock Exchange (www.hkex.com.hk) as well as the website of the Company (www. irasia.com/listco/hk/prosperityinv) as soon as possible.
͉ϋܓʘϋజਗ਼းҞᑌʹהၣ१ (www.hkex. com.hk) ʿ͉ʮ̡ၣ१ (www.irasia.com/listco/hk/ prosperityinv) ̊ ༱f
By Order of the Board
Prosperity Investment Holdings Limited Cheng Hairong
Chairman and Managing Director
וԫึն ྗආҳ༟ყϞࠢʮ̡ ˴ࢩࡒԫᐼଣ ϓऎ
Hong Kong, 30 March 2021
࠰ ಥd 2021 ϋ 3 ˜ 30˚
As at the date of this announcement, the Board comprises one executive director, namely Mr. Cheng Hairong, one non-executive director, namely Mr. Lau Tom Ko Yuen and three independent non-executive directors, namely Mr. Feng Nien Shu, Mr. Lui Siu Tsuen, Richard and Ms. Wong Lai Kin, Elsa.
͉ʮб˚ಂdԫึ͟ɓΤੂБԫϓऎ ͛eɓΤڢੂБԫᄎ৷ࡡ͛ʿɧΤዹͭڢੂБ ԫ㌞ׂՠ͛eѐΊݰ͛ʿරᘆɾɻଡ଼ϓf
Glossary | |
詞彙 | |
Board | the board of Directors |
ԫึ | ԫึ |
CG Code | the Corporate Governance Code as set out in Appendix 14 of the Listing Rules |
Ά၍ςۆ | ɪ̹ۆڝ 14 ה༱ʘΆุ၍طςۆ |
CODM | the chief operating decision maker |
˴ࠅᐄӔഄ٫ | ˴ࠅᐄӔഄ٫ |
Company | Prosperity Investment Holdings Limited, a company incorporated in Bermuda with limited liability, whose |
͉ʮ̡ | issued Shares are listed on the Main Board of the Stock Exchange |
ྗආҳ༟ყϞࠢʮ̡dɓගϵᅉ༺ൗ̅ϓͭʘϞࠢʮ̡dՉʊ೯Бٰ΅ᑌʹה˴ؐɪ̹ | |
Director(s) | the director(s) of the Company |
ԫ | ͉ʮ̡ԫ |
FVOCI | fair value through other comprehensive income |
ܲʮ̻࠽ࠇɝՉ˼Όࠦ | ܲʮ̻࠽ࠇɝՉ˼Όࠦϗू |
ϗू | |
FVTPL | fair value through profit or loss |
ܲʮ̻࠽ࠇɝฦू | ܲʮ̻࠽ࠇɝฦू |
Group | the Company and its subsidiaries |
͉ණྠ | ͉ʮ̡ʿՉڝ᙮ʮ̡ |
HKAS | the Hong Kong Accounting Standards issued by HKICPA |
࠰ಥึࠇۆ | ࠰ಥึࠇࢪʮึбʘ࠰ಥึࠇۆ |
HKFRSs | including individual Hong Kong Financial Reporting Standards, Hong Kong Accounting Standards and |
Interpretations issued by the HKICPA | |
࠰ಥৌਕజѓۆ | ܼ̍࠰ಥึࠇࢪʮึбʘהϞࡈй࠰ಥৌਕజѓۆe࠰ಥึࠇۆʿ༕ᙑ |
HKICPA | the Hong Kong Institute of Certified Public Accountants |
࠰ಥึࠇࢪʮึ | ࠰ಥึࠇࢪʮึ |
Hong Kong | the Hong Kong Special Administrative Region of the PRC |
࠰ಥ | ʕ࠰ಥतйБ݁ਜ |
Listing Rules | the Rules Governing the Listing of Securities on the Stock Exchange |
ɪ̹ۆ | ᑌʹהᗇՎɪ̹ۆ |
Model Code | the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix 10 of the |
ᅺςۆ | Listing Rules |
ɪ̹ۆڝ 10 ה༱ʘɪ̹೯БɛԫආБᗇՎʹٙᅺςۆ | |
Net Asset Value | the consolidated net asset value of the Group as reflected in its audited financial statements |
༟ପଋ࠽ | ͉ණྠᄲࣨৌਕజڌʫˀ݈ʘၝΥ༟ପଋ࠽ |
PRC | People's Republic of China, which for the purpose of this annual report, excludes Hong Kong, Macau and |
ʕ | Taiwan |
ʕശɛ͏ձdఱ͉ϋజϾԊdʔܼ̍࠰ಥeዦژʿ̨ᝄ | |
Share(s) | share(s) of HK$0.025 each in the share capital of the Company |
ٰ΅ | ͉ʮٰ̡͉ʕӊٰࠦ࠽ 0.025 ಥʩʘٰ΅ |
Shareholder(s) | holder(s) of Share(s) |
ٰ΅ܵϞɛ | |
Stock Exchange | The Stock Exchange of Hong Kong Limited |
ᑌʹה | ࠰ಥᑌΥʹהϞࠢʮ̡ |
Year | year ended 31 December 2020 |
͉ϋܓ | ࿚Ї 2020 ϋ 12 ˜ 31 ˚˟ϋܓ |
Year End Date | at 31 December 2020 |
ϋഐ˚ | 2020 ϋ 12 ˜ 31˚ |
Year 2019 | year ended 31 December 2019 |
2019 ϋϋܓ | ࿚Ї 2019 ϋ 12 ˜ 31 ˚˟ϋܓ |
HK$ | Hong Kong Dollar, the lawful currency of Hong Kong |
ಥʩ | ࠰ಥج֛࿆ಥʩ |
ٰ؇
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Prosperity Investment Holdings Limited published this content on 30 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 March 2021 12:40:01 UTC.