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耀莱集团(00970)公告正文

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公告日期:2019年07月26日
(Incorporated in Bermuda with limited liability 于百慕达注册成立之有限公司) (Stock Code 股份代号: 970) 年报2019 Annual Report 仅供识别 Corporate Information 公司资料 2 Financial Highlights 财务摘要 4 Chairman’s Statement 主席报告 7 Management Discussion and Analysis 管理层讨论及分析 10 Report of the Directors 董事会报告 23 Corporate Governance Report 企业管治报告 46 Biographies of Directors and Senior Management 董事及高级管理人员之履历 68 Environmental, Social and Governance Report 环境、社会及管治报告 78 Independent Auditor’s Report 独立核数师报告 105 Consolidated Statement of Comprehensive Income 综合全面收入报表 113 Consolidated Statement of Financial Position 综合财务状况报表 115 Consolidated Statement of Cash Flows 综合现金流量表 117 Consolidated Statement of Changes in Equity 综合股本权益变动表 119 Notes to the Financial Statements 财务报表附注 121 Financial Summary 财务概要 284 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 1 BOARD OF DIRECTORS 董事会 Zheng Hao Jiang 郑浩江 (Chairman and Chief Executive Officer) (主席兼行政总裁) Zhao Xiaodong 赵小东 (Deputy Chairman and (副主席兼运营总裁) Chief Operating Officer) Zhu Lei 朱雷 Gao Yu* 高煜* Qi Jian Wei* 綦建伟* Choy Sze Chung, Jojo** 蔡思聪** Lam Kwok Cheong** 林国昌** Lee Thomas Kang Bor** 李镜波** * Non-executive Director * 非执行董事 ** Independent Non-executive Director ** 独立非执行董事 AUDIT COMMITTEE Choy Sze Chung, Jojo (Chairman) 审核委员会 蔡思聪(主席) Lam Kwok Cheong 林国昌 Lee Thomas Kang Bor 李镜波 REMUNERATION Lam Kwok Cheong (Chairman) 薪酬委员会 林国昌(主席) COMMITTEE Choy Sze Chung, Jojo 蔡思聪 Lee Thomas Kang Bor 李镜波 Zheng Hao Jiang 郑浩江 Zhu Lei 朱雷 NOMINATION Lee Thomas Kang Bor (Chairman) 提名委员会 李镜波(主席) COMMITTEE Lam Kwok Cheong 林国昌 Choy Sze Chung, Jojo 蔡思聪 LEGAL ADVISERS Chiu & Partners 法律顾问 赵不渝马国强律师事务所 F. Zimmern & Co. 施文律师行 King & Wood Mallesons 金杜律师事务所 FINANCIAL Li Yat Ming 财务总监兼 李一鸣 CONTROLLER & 公司秘书 COMPANY SECRETARY 2 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 PRINCIPAL BANKERS China Minsheng Banking Corp., Ltd 主要往来银行 中国民生银行股份有限公司 China CITIC Bank Corporation Limited 中信银行股份有限公司 OCBC Wing Hang Bank Limited 华侨永亨银行有限公司 Standard Chartered Bank (China) Limited 渣打银行(中国)有限公司 UBS Switzerland AG 瑞士银行 AUDITOR BDO Limited 核数师 香港立信德豪会计师 事务所有限公司 REGISTERED OFFICE Clarendon House 注册办事处 Clarendon House 2 Church Street 2 Church Street Hamilton HM11 Bermuda Hamilton HM11 Bermuda PRINCIPAL OFFICE Rooms 2028-36, 主要办事处 香港湾仔 20/F Sun Hung Kai Centre 港湾道30号 30 Harbour Road Wanchai 新鸿基中心20楼 Hong Kong 2028-36室 REGISTRAR Tricor Secretaries Limited 过户登记处 卓佳秘书商务有限公司 (in Hong Kong) Level 54, Hopewell Centre (香港) 香港 183 Queen’s Road East 皇后大道东183号 Hong Kong 合和中心54楼 REGISTRAR MUFG Fund Services 过户登记处 MUFG Fund Services (in Bermuda) (Bermuda) Limited (百慕达) (Bermuda) Limited 4th Floor North 4th Floor North Cedar House Cedar House 41 Cedar Avenue 41 Cedar Avenue Hamilton HM12 Hamilton HM12 Bermuda Bermuda STOCK CODE 970 股份代号 970 WEBSITE www.hk970.com 网址 www.hk970.com SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 3 Revenue for the financial year ended 31 March 2019 increased by 截至二零一九年三月三十一日止财政年度之收 28.8% from HK$2,893,052,000 to HK$3,724,845,000 as compared 益与上一财政年度比较,由2,893,052,000港 with the last financial year. 元增加28.8%至3,724,845,000港元。 Gross profit for this financial year increased by 41.6% from 本财政年度之毛利由399,025,000港元增加 HK$399,025,000 to HK$564,937,000. 41.6%至564,937,000港元。 Other income for this financial year increased by 8.4% from 本财政年度之其他收入由83,576,000港元增加 HK$83,576,000 to HK$90,634,000. 8.4%至90,634,000港元。 Selling and distribution costs and administrative expenses for this 本财政年度之销售及代理成本及行政费用与上 financial year increased by 49.5% as compared with the same in the 一财政年度比较增加49.5%。 last financial year. No provision for litigation losses was recognised in automobiles 本财政年度概无就汽车业务确认诉讼亏损拨备 business for this financial year (2018: HK$12,976,000). (二零一八年:12,976,000港元)。 Profit attributable to owners of the Company for the financial 截至二零一九年三月三十一日止财政年度之本 year ended 31 March 2019 was HK$97,429,000 (2018: 公司拥有人应占溢利为97,429,000港元(二零 HK$664,565,000). 一八年:664,565,000港元)。 Earnings per share attributable to owners of the Company were 本财政年度之本公司拥有人应占每股盈利为 HK2.0 cents for this financial year as compared with HK14.9 cents 2.0港仙,而上一财政年度则为每股盈利14.9 earnings per share in the last financial year. 港仙。 No dividend was declared for this financial year (2018: nil). 并无就本财政年度宣派任何股息(二零一八 年:无)。 4 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Revenue 收益 (HK$’000)(千港元) 5,000,000 4,000,000 3,724,845 3,000,000 2,781,222 2,893,052 2,605,701 2,376,904 2,000,000 1,000,000 0 FY2015 FY2016 FY2017 FY2018 FY2019 二零一五年 二零一六年 二零一七年 二零一八年 二零一九年 财政年度 财政年度 财政年度 财政年度 财政年度 Gross Profit and Gross Profit Margin 毛利及毛利率 (HK$’000)(千港元) 800,000 16.0% 700,000 15.2% 14.0% 11.9% 13.8% 600,000 564,937 12.0% 500,000 10.0% 8.0% 399,025 400,000 7.2% 8.0% 330,884 300,000 6.0% 200,000 188,427 189,103 4.0% 100,000 2.0% 0 0.0% FY2015 FY2016 FY2017 FY2018 FY2019 二零一五年 二零一六年 二零一七年 二零一八年 二零一九年 财政年度 财政年度 财政年度 财政年度 财政年度 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 5 Financial position: 财务状况: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Total assets 资产总值 3,933,651 3,907,033 Total liabilities 负债总额 1,560,457 883,853 Net assets 资产净值 2,373,194 3,023,180 Net tangible worth 有形资产净值 1,588,772 2,816,616 Financial Ratios: 财务比率: 2019 2018 二零一九年 二零一八年 Gross profit margin 毛利率 15.2% 13.8% Return on equity 权益回报率 4.1% 22.2% Current ratio 流动比率 1.58 2.45 Gearing ratio 资本负债比率 36.8% 18.8% 6 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 China’s economy grew at its slowest pace in 28 years in 2018, with 根据中国国家统计局公布的数据,二零一八 gross domestic product expanding at 6.6%, down 0.2 percentage 年,中国经济以其28年来最缓慢速度增长,国 point from the previous year, according to the data released by 内生产总值增加6.6%,较去年下降0.2个百分 the National Bureau of Statistics of China. Despite the slowdown, 点。尽管有所放缓,二零一八年的增长率超过 the growth rate for 2018 exceeded the target of about 6.5% set by 中国政府设定的约6.5%的目标。经济增长七 the Chinese government. The economy grew faster in 2017 for the 年来首次于二零一七年加速,但于二零一八年 first time in seven years, but slowed again in 2018. For 2019, the 再次放缓。二零一九年,中国政府设定目标增 Chinese government targets growth at 6-6.5%, which was already 长率为6-6.5%,乃中国近三十年来最慢的年 China’s slowest annual growth in nearly three decades. While 增长率。虽然存在若干正面迹象,但中国经济 there are a number of positive signals, the Chinese economy still 在来自外部环境因素下仍面临下行压力。中国 faces downward pressure coming from the external environment. 经济增长受到与美国贸易摩擦的冲击,政府亦 China’s growth has been hit by a trade war with the United States 全力收紧中国金融系统中的巨大债务。 and government efforts to rein in a huge amount of debt in China’s financial system. During the financial year under review, the Group’s revenue 于 回 顾 财 政 年 度, 本 集 团 之 收 益 由 increased from HK$2.893 billion to HK$3.725 billion. Gross 2,893,000,000港 元 增 加 至3,725,000,000港 profit for the financial year increased from HK$399.0 million to 元。本财政年度之毛利由399,000,000港元增 HK$564.9 million. The auto business was still a major income 加至564,900,000港元。汽车业务仍为主要收 driver, accounting for approximately 88.8% of our business. Net 入来源,占本集团业务约88.8%。本财政年度 profit attributable to owners of HK$97.4 million was recorded in this 录得本公司拥有人应占年内纯利97,400,000港 financial year compared with a net profit of HK$664.6 million in the 元,而上一财政年度则录得纯利664,600,000 last financial year. 港元。 As the Group expected to record a substantial decrease in the net 由于与截至二零一八年三月三十一日止年度之 profit for the year ended 31 March 2019 as compared with a net 纯利约667,000,000元比较,预期本集团截至 profit of approximately HK$667 million for the year ended 31 March 二零一九年三月三十一日止年度录得纯利大幅 2018, the Board had issued a profit warning announcement on 17 减少,董事会已于二零一九年五月十七日发布 May 2019. 盈利警告。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 7 CHINA’S LUXURY GOODS AND 中国奢侈品及汽车市场 AUTOMOBILES MARKETS There are quite a few ongoing updates and research reports from 知名机构、投资银行及环球研究中心持续发表 reputable authorities, investment banks and global research houses 不少最新资讯及研究报告,指出中国奢侈品市 mentioning that China’s luxury goods market has cooled down but 场降温,但仍增长稳健。根据贝恩公司于二零 is still growing in a healthy way. According to the “Bain & Company’s 一九年三月十八日发布的「贝恩公司2019年中 2019 China Luxury Report” issued by Bain & Company on 18 国奢侈品报告」,预计二零一九年奢侈品消费 March 2019, spending on luxury goods is expected to increase by 增长10%,较上两个年度的20%有所下降。二 10% in 2019, down from 20% in the previous two years. In 2018, 零一八年,中国内地消费者购买的奢侈品为人 mainland Chinese consumers spent 170 billion yuan (US$25.3 民币1,700亿元(约253亿美元),较上一年度 billion), representing a 20% growth in the previous year on luxury 有20%的增长。中国消费者二零一八年在中国 goods. Chinese consumers made 27% of their luxury purchases in 花费27%购买奢侈品,较二零一五年的23%有 China in 2018, up from 23% in 2015, and Bain anticipates that such 所上升,而贝恩预计,有关份额至二零二五年 share will increase to 50% by 2025. However, mainland Chinese 将增加至50%。根据贝恩的资料,中国内地消 consumers’ total spending on luxury items accounted for 33% of 费者贡献的奢侈品总消费占去年全球总消费的 the global total last year, according to Bain. The cooling down of 33%。中国奢侈品市场降温乃由于居民收入及 China’s luxury goods market is due to the impact of the slowing 个人财富受经济放缓的影响,其将会打击中国 economy on people’s incomes and personal wealth, which will deter 富裕阶层购买奢侈品,而现况显示房地产价格 China’s affluent classes from buying luxury items and the present 很可能保持平稳,对中国家庭财富的正面影响 condition that real estate prices are likely to flatten, reducing the 减少。 positive wealth effect on Chinese households. According to the sixth edition of an annual study titled “2019 根据全球管理咨询公司与全世界领先商业策略 True-Luxury Global Consumer Insight” published by The Boston 顾问波士顿咨询集团(「BCG」)于二零一九年四 Consulting Group (BCG), a global management consulting firm and 月十七日发布的第六版年度研究「2019真实奢 the world’s leading advisor on business strategy, released on 17 侈品全球消费者观察报告(True-Luxury Global April 2019, the global luxury market was worth 920 billion in 2018, Consumer Insight),当中提到全球奢侈品市场 a sum combining 590 billion spent on experiential luxury, up 5% 二零一八年的价值为9,200亿欧元,有关体验 over 2017, and the 330 billion spent on luxury consumer goods (up 式奢侈品消费为5,900亿欧元(较二零一七年 3%). In 2025, it is expected to be worth 1.256 trillion, growing at 上升5%),及奢侈品消费为3,300亿欧元( 上 an average annual rate of 4.6%. In 2018, 30% of the world’s luxury 升3%)。预计二零二五年的价值为12,560亿 spending, equivalent to 278 billion, was made by 18.5 million 欧元,平均年增长率为4.6%。二零一八年, consumers, 4% of all luxury goods consumers worldwide. Chinese 18,500,000名消费者(占全世界全部奢侈品消 consumers played a leading role as “True-luxury consumers”, whose 费者的4%)消费全世界30%的奢侈品(等于 share of the global luxury market is expected to increase from 35% 2,780亿欧元)。中国消费者作为「真实奢侈品 to 40% in 2025, accounting for 75% of growth in 2018-25, and by 消费者」发挥领跑作用,预计其于全球奢侈品 millennials. The study further states that Generation Z, being people 市场的份额由35%上升至二零二五年的40%, born in the last two decades, currently only accounts for 4% of the 二零一八年至二五年有75%增幅,并由千禧世 luxury market. Attention has to be drawn to the resale market, which 代贡献。该研究进一步指出,Z一代( 即最近 is now worth 22 billion and is expected to grow at a rate of 12% per 二十年出生的人)目前仅占奢侈品市场的4%。 8 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 annum, reaching 31 billion in 2021, mainly fuelled by e-tailing sites. 市场注意力被吸引至转售市 场, 现时的价值 This segment accounts for 7% of the luxury good market, estimated 为220亿欧元,并预计将以12%的年增长率 at 330 billion, with growth rate four times faster than that of the 增长,于二零二一年达致310亿欧元,主要由 traditional luxury goods market. 于网络零售推动。此业务板块占奢侈品市场的 7%,估计为3,300亿欧元,增长率较传统奢侈 品市场快四倍。 For the global luxury car market, China is still the most important 就全球豪华汽车市场而言,中国仍为最重要的 market. According to an article titled “Luxury Car Brands Expect 市场。根据中国最有影响力财经媒体集团中的 to Keep Bucking China’s Sluggish Trend in 2019” issued by Caixin 一员财新国际有限公司(Caixin Global Limited) Global Limited, a member of China’s most influential financial media 于二零一九年一月二十八日发布「2019年豪华 group on 28 January 2019, it mentioned global luxury-car brands 汽车品牌预期会继续摆脱中国市场颓势(Luxury are predicting strong sales growth in China this year after bucking Car Brands Expect to Keep Bucking China’s the downward trend last year in an automobile market that saw its Sluggish Trend in 2019)」的文章,当中提到 first annual sales decline in nearly three decades. Luxury car players 全球豪华汽车品牌预测,继去年摆脱近三十年 are positive towards the market in 2019 including Volkswagen AG’s 来首次销售额下降的汽车市场颓势影响后,本 Audi which is expected to sell a total of 682,000 units in the world’s 年度可于中国取得强劲销售增长。豪华汽车 largest car market this year, up 2.87% from 2018 while the brand 从业者对二零一九年的市场看法正面,包括 sold 663,000 vehicles in China from the previous year. Additionally, Volkswagen AG旗下的奥迪预计本年度将在全 BMW AG predicts its China sales will rise by 10%, extending a 世界最大汽车市场出售合共682,000辆汽车, 7.7% increase last year when it sold a total of 640,000 units in the 较二零一八年该品牌出售的663,000辆汽车有 country. 2.87%的升幅。此外,BMW AG预测其中国的 销售额将增长10%,延续去年7.7%的增幅势 头,去年其于中国售出合共640,000辆。 Luxury car market continues to grow steadily based on an article 根据SHINE(一间于一九九九年十月在中国创 named “China’s luxury car market maintains steady growth” issued 刊的英文报纸,及按最新资料乃由上海的上海 on 29 May 2019 by SHINE, an English-language newspaper in 报业集团拥有)于二零一九年五月二十九日发 China published since October 1999 and owned by Shanghai United 布的「中国豪华汽车市场维持稳步增长(China’s Media Group with the latest information in Shanghai. It mentioned luxury car market maintains steady growth)」文 that China’s luxury car market remains on a steady growth path 章,豪华汽车市场继续稳步增长。该文章中提 despite weak market sentiment in overall car sales. According to a 到,尽管整体汽车销售市场疲弱,中国豪华汽 recent report issued by China Passenger Car Association, China’s 车市场仍然稳步增长。根据中国乘用车联合会 luxury sedan segment grew around 18.8% in the first 11 months of 近期发出的报告,中国豪华轿车类别本年度前 this year as compared with that of the same period last year. 11个月较去年同期增长约18.8%。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 9 BUSINESS REVIEW 业务回顾 Auto Dealerships 汽车分销 During the year under review, revenue of the ultra-luxury automobile 于回顾年度内,宾利、兰博基尼及劳斯莱斯 distributorships of Bentley, Lamborghini and Rolls-Royce recorded 等超豪汽车分销之收益录得约3,194,000,000 an approximately 29.3% increase to approximately HK$3.194 港元,而上一财政年度约为2,470,000,000港 billion, as compared with that of approximately HK$2.470 billion 元,增幅约29.3%。所有三个品牌之中,劳斯 in the previous financial year. All our 3 brands, Rolls-Royce, 莱斯、宾利及兰博基尼之销售额录得增长。在 Bentley and Lamborghini recorded sales growth. Rolls-Royce had 本集团旗下其他众多品牌中,按收益及毛利 performed the best among the Group’s others brands in terms of the 增加计,劳斯莱斯的表现最为优秀,录得总 increase in revenue and gross profit with total sales of approximately 销售额约1,540,000,000港元,而上一财政年 HK$1.540 billion, representing an approximately 47% rise as 度的销售则为1,046,000,000港元,增幅约为 compared with that of approximately HK$1.046 billion recorded 47%。劳斯莱斯售出之汽车总数为203辆,较 in the previous financial year. 203 units of Rolls-Royce were sold, 上一财政年度售出169辆增加约20%。在于本 representing an increase of approximately 20% as compared with 财政年度所售出劳斯莱斯的所有型号当中,幻 169 units sold in the previous financial year. Among all models of 影的收益及及毛利贡献表现最佳。 Rolls-Royce sold during this financial year, Phantom performed the best in terms of revenue and gross profit contribution. According to the article titled “Rolls-Royce Celebrated Success 根据该品牌的官方网站于二零一九年四月十六 in China at 2019 Shanghai Motors Show” under the brand’s 日刊发的「劳斯莱斯于二零一九年上海车展上 official website issued on 16 April 2019, Rolls-Royce announced a 庆祝成功(Rolls-Royce Celebrated Success in remarkable business record in 2018 and achieved its greatest sales China at 2019 Shanghai Motors Show)」文章, result in the brand’s 115-year history, with 4,107 cars delivered 劳斯莱斯宣布二零一八年取得出色经营记录, to customers in over 50 countries worldwide. The Greater China 实现该品牌115年历史最高销售业绩,向全球 market is a significant market in the marque’s 2018 success story, 逾50个国家的客户交付4,107辆汽车。大中华 becoming the brand’s second largest market. The brand anticipated 区市场乃该汽车二零一八年取得成功的重要市 that the Greater China market will, at some point in the not too 场,成为该品牌的第二大市场。该品牌预计, distant future, become Rolls-Royce Motor Car’s largest single 在不远的将来,该市场将成为劳斯莱斯汽车最 market. 大单一市场。 Lamborghini recorded a rise in sales during this financial year 兰博基尼于本财政年度录得销售额上 升, 合 with a total of approximately HK$256.2 million, representing a 共约为256,200,000港元,较上一财政年度约 98% increase in sales as compared with that of approximately 129,700,000港元销售额有98%的升幅。售出 HK$129.7 million during the previous financial year. 53 units of 之兰博基尼为53辆,较上一财政年度售出的 Lamborghini were sold, representing an increase of approximately 29辆增加约83%。在于本财政年度所售出的兰 83% as compared with 29 units sold in the previous financial year. 博基尼所有型号当中,Urus在收益及毛利贡献 Among all models of Lamborghini sold during this financial year, 方面表现最佳。 Urus performed the best in terms of revenue and gross profit contribution. 10 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Bentley recorded an approximately 8% increase in sales to 宾 利 于 本 财 政 年 度 之 销 售 额 约 为 approximately HK$1.397 billion during this financial year, as 1,397,000,000港元,而上一财政年度约为 compared with that of approximately HK$1.294 billion in the 1,294,000,000港元,升幅约为8%。售出之 previous financial year. 437 units of Bentley were sold, representing 宾利为437辆,较上一财政年度售出的314辆 an increase of 39% as compared with 314 units sold in the previous 增加约39%。在于本财政年度所售出的宾利所 financial year. Among all models of Bentley sold during this financial 有型号当中,添越(新运动车型)售出的车辆最 year, Bentayga, the new SUV model, recorded the greatest number 多,及在收益及毛利贡献方面表现最佳。 of units sold and performed the best in terms of revenue and gross profit contribution. Gross profit margins of sale of Lamborghini and Rolls-Royce 兰博基尼及劳斯莱斯于本财政年度之销售毛利 increased during this financial year due to the increase of both 率有所上升,乃由于数量及毛利率均有所增 quantity and gross profit margin. For Bentley, gross profit margin 加。就宾利而言,毛利率于本财政年度录得下 recorded a decline during this financial year. 跌。 Revenue of after-sales services recorded a rise of approximately 于本财政年度,售后服务之收益较上一财政年 14% during this financial year as compared with that of the previous 度上升约14%。因此,上一财政年度之毛利率 financial year. Accordingly, the gross profit margin decreased 由约45.4%稍降至本财政年度约44.3%。 slightly from approximately 45.4% in the previous financial year to approximately 44.3% in this financial year. Non-auto Dealerships 非汽车分销 During the year under review, the sales of our non-auto dealerships 于回顾年内,非汽车分销分部销售额录得收益 division recorded a decrease in revenue of approximately 1% 减少约1%至约320,300,000港元,而上一财政 to approximately HK$320.3 million as compared with that of 年度约为323,500,000港元。 approximately HK$323.5 million in the previous financial year. Gross profit margin of our non-auto dealerships division decreased 非汽车分销分部的毛利率于本财政年度减少, during this financial year from approximately 35% in the previous 由上一财政年度约35%减少至本财政年度约 financial year to approximately 32.1% in this financial year. 32.1%。 Among all non-auto dealerships division during this financial year, 于本财政年度所有非汽车分销分部中,Bang & Bang & Olufsen performed the best in terms of revenue and gross Olufsen在收益及毛利贡献方面表现最佳。 profit contribution. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 11 Others 其他 During the financial period under review, our others division, which 于回顾财政期间,其他分部(包括提供物业管 includes the new business of provision of property management 理服务、转租服务、餐饮服务及电影投资等新 services, sub-lease services, catering services and film investment, 业务)分别录得收益及毛利约96,800,000港元 recorded revenue and gross profit of approximately HK$96.8 million 及约68,700,000港元。 and approximately HK$68.7 million respectively. Based on the calculation result, the profit guarantee of not less than 根据计算结果,就物业管理业务于二零一八年 RMB50,000,000 has been achieved for the period between 1 April 四月一日至二零一九年三月三十一日期间已达 2018 and 31 March 2019 in relation to the property management 致不少于人民币50,000,000元之溢利保证。 business. Investment 投资 The Group completed its acquisition of 6,519,358 shares, 于二零一六年十二月十六日,本集团完成收购 approximately 15.09% shareholding in Bang & Olufsen A/S Bang & Olufsen A/S(「B&O」)(一间于丹麦注册 (“B&O”), a company incorporated in Denmark whose shares are 成立之公司,其股份于纳斯达克哥本哈根上市 listed and traded on Nasdaq Copenhagen, on 16 December 2016. 及买卖)之6,519,358 股股份(约为 15.09% 的股 The consideration for the acquisition of the shares as stated in 权)。诚如日期为二零一六年十一月二十五日 the relevant circular dated 25 November 2016 was approximately 之相关通函所述,收购股份之代价约为4.94亿 HK$494 million. 港元。 As at 31 March 2019, the Group held 6,000,000 shares of B&O, 于二零一九年三月三十一日,本集团持有B&O approximately 13.89% of its total issued shares, as a long term 之6,000,000股股份(约为全部已发行股份之 investment for capital appreciation and distributions. The carrying 13.89%)作为资本升值及分派之长期投资。于 amount of this investment represented approximately 10.8% of the 二零一九年三月三十一日,此投资之账面值占 total assets of the Group as at 31 March 2019. 本集团之总资产约10.8%。 No dividend was generated from this investment to the Group during 于本财政年度,此项投资并无对本集团贡献任 this financial year. 何股息。 During this financial year, the Group sold 519,358 shares of B&O 于本财政年度,本集团售出519,358股之B&O and hence realized approximately HK$97 million. 股份,因此变现约97,000,000港元。 During this financial year, the share price of B&O was traded in a 于本财政年度,B&O之股价于每股58.3丹麦 range of DKK58.3 to DKK176 per share. As at 31 March 2019, the 克朗至176丹麦克朗区间买卖。于二零一九年 share price of B&O closed at DKK59.9 per share and the total fair 三月三十一日,B&O之股价收报每股59.9丹麦 value of the shares of B&O held by the Group was approximately 克朗,而本集团所持之股份之公允值总额约为 HK$426 million. As compared to 31 March 2018, the fair value of 4.26亿港元。与于二零一八年三月三十一日比 this investment decreased by approximately HK$865 million. 较,此项投资之公允值减少约8.65亿港元。 12 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 This equity investment was irrevocably designated at fair value 因为本集团认为此项股权投资属战略性质,故 through other comprehensive income as the Group considers these 该等投资不可撤回地指定为按公允值计入其他 investments to be strategic in nature. According to the relevant 全面收入之投资。根据相关会计准则,按公允 accounting standard, equity investment at fair value through other 值计入其他全面收入之股权投资按公允值计 comprehensive income is measured at fair value. Dividend income 量。股息收入乃于损益确认,除非股息收入清 is recognised in profit or loss unless the dividend income clearly 楚表明为收回部分投资成本则作别论。其他净 represents a recovery of part of the cost of the investments. Other 收益及亏损乃于其他全面收入确认并不会重新 net gains and losses are recognised in other comprehensive income 分类至损益。 and are not reclassified to profit or loss. FINANCIAL REVIEW 财务回顾 Revenue 收益 The revenue of the Group for the year ended 31 March 2019 was 截至二零一九年三月三十一日止年度,本集团 approximately HK$3,724.8 million, representing an increase of 之收益约为3,724,800,000港元,较去年录得 approximately 28.8% as compared with that of approximately 之约2,893,100,000港元增加约28.8%。收益 HK$2,893.1 million recorded in the previous year. Such increase 增加主要是由于汽车销售、提供售后服务及音 was mainly due to the increase in sales of automobiles, provision of 响产品增加所致。下表载列本集团于所示年度 after-sales services and audio products. The table below sets out 之收益: the Group’s revenue for the year indicated: FY2019 FY2018 Changes 二零一九年财政年度 二零一八年财政年度 变动 Contribution Contribution Revenue Source 收益来源 HK$’000 (%) HK$’000 (%) HK$’000 (%) 千港元 贡献(%) 千港元 贡献(%) 千港元 % Automobile segment 汽车分部 Sales of automobiles 汽车销售 3,193,687 85.7% 2,469,539 85.30% 724,148 29.3% Provision of after-sales services 提供售后服务 114,029 3.1% 100,036 3.50% 13,993 14.0% Sub-total 小计 3,307,716 88.8% 2,569,575 88.80% 738,141 28.7% Non-automobile dealerships 非汽车分销分部 segment 320,315 8.6% 323,477 11.20% (3,162) (1.0%) Others 其他 96,814 2.6% – – 96,814 – Total 总计 3,724,845 100.0% 2,893,052 100% 831,793 28.8% SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 13 Gross Profit and Gross Profit Margin 毛利及毛利率 Gross profit of the Group for the year ended 31 March 2019 本集团截至二零一九年三月三十一日止年度之 increased by approximately 41.6% to approximately HK$564.9 毛利增加约41.6%至约564,900,000港元(二零 million (31 March 2018: approximately HK$399.0 million). Such 一八年三月三十一日:约399,000,000港元)。 increase in the gross profit was mainly due to the increase in gross 该毛利增加主要是由于本财政年度汽车销售毛 profit from sales of automobiles and increase in incentive bonuses 利上升及汽车供应商提供之于销售成本中扣除 offered by automobile suppliers in this financial year which were 的激励津贴增加所致。汽车销售之毛利由上个 deducted from the cost of sales. The gross profit of the sales of 财政年度之约240,400,000港元增加约42.7% automobiles increased by approximately 42.7% from approximately 至本财政年度之约343,000,000港元。 HK$240.4 million in the previous financial year to approximately HK$343.0 million in this financial year. Other Income and net gains 其他收入及收益净额 Other income and net gains was approximately HK$90.6 million for 截至二零一九年三月三十一日止年度之其他收 the year ended 31 March 2019, representing approximately 8.4% 入及收益净额约为90,600,000港元,较上个财 increase from approximately HK$83.6 million in the last financial 政年度约83,600,000港元增加约8.4%。该增 year. Such increase was mainly due to increase in income from 加乃主要由于广告、展览收入以及其他服务收 advertising, exhibitions and other service income. 入增加。 Selling and distribution costs 销售及代理成本 The selling and distribution costs increased by approximately 29.2% 销售及代理成本增加约29.2%,其乃主要由于 which were mainly due to the increase in marketing expenses, 营销费 用、 折旧、员工成本及额外消费税所 depreciation, staff costs and additional consumption levy. 致。 Administrative expenses 行政费用 The administrative expenses increased by approximately HK$89.9 行政费用增加约89,900,000港元。变动主要由 million. The changes were mainly due to the expenses incurred in 于有关购买及投资债务证券产生之费用及其他 relation to the acquisitions and investments in debt securities and 无形资产摊销增加所致。 the increase in amortisation of other intangible asset. Finance Costs 融资成本 The finance costs of the Group increased by approximately 152.3% 本 集 团 融 资 成 本 由 上 个 财 政 年 度 之 约 from approximately HK$16.2 million in the previous financial year to 16,200,000港元增加约152.3%至本财政年度 approximately HK$41.0 million in this financial year. The increase 之约41,000,000港元。增幅主要由于收购本集 was mainly due to the increase in borrowing for the acquisition of the 团用作展厅及办公室之物业令借贷上升所致。 property used by the Group as showrooms and office. 14 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 LIQUIDITY AND FINANCIAL RESOURCES 流动资金及财务资源 The Group’s total assets as at 31 March 2019 were approximately 于二零一九年三月三十一日,本集团之总资 HK$3,933.7 million (31 March 2018: approximately HK$3,907.0 产约为3,933,700,000港元(二零一八年三月 million) which were mainly financed by the total equity and the total 三十一日:约3,907,000,000港元),主要以 liabilities of approximately HK$2,373.2 million (31 March 2018: 约2,373,200,000港元(二零一八年三月三十一 approximately HK$3,023.2 million) and HK$1,560.5 million (31 日:约3,023,200,000港元)之权益总额及约 March 2018: approximately HK$883.9 million) respectively. 1,560,500,000港元(二零一八年三月三十一 日:约883,900,000港元)之总负债融资。 As disclosed in the note 29 (b) to the interim condensed 诚如本公司二零一八╱二零一九中期报告所载 consolidated financial statements contained in the 2018/2019 中期简明综合财务报表附注29(b)所披露,信 interim report of the Company, the value of the intangible asset, 智国际有限公司(现称盛耀蔚莱文化投资有限 goodwill and the deferred tax liabilities recognised at the date of 公司)及其附属公司于收购日期已确认之无形 acquisition of Reliable Intelligence International Limited (currently 资产、商誉及递延税项负债之价值分别列账 known as San Sparkle Culture Investment Limited) and its 为437,879,000港元、61,116,000港元及零。 subsidiaries were stated HK$437,879,000, HK$61,116,000 and 年内于收购日期初步确认之其他无形资产、商 nil respectively. The audited value of the other intangible asset, 誉及递延税项负债之经审核价值分别调整至 goodwill and the deferred tax liabilities initially recognised upon the 约为413,211,000港元、189,087,000港元及 acquisition date during the year were adjusted to approximately 103,303,000港元。变动乃主要由于确认无形 HK$413,211,000, HK$189,087,000 and HK$103,303,000 资产之递延税项负债。董事会认为,有关调整 respectively. The changes were mainly due to recognition of 不会对二零一八╱二零一九中期报告造成重大 deferred tax liabilities on the intangible asset. The Board considered 影响。 that such adjustments do not have material impact on the 2018/2019 interim report. Cash Flow 现金流量 The Group’s cash at banks and in hand as of 31 March 2019 were 于二零一九年三月三十一日,本集团之银行及 approximately HK$185.2 million (31 March 2018: approximately 手头现金约为185,200,000港元(二零一八年三 HK$155.7 million) which were mainly denominated in Hong Kong 月三十一日:约155,700,000港元),均主要以 dollars (“HK$”) and Renminbi (“RMB”). 港元(「港元」)及人民币(「人民币」)计值。 The Group’s primary uses of cash are to repay the Group’s 本集团主要利用现金偿还本集团借贷、支付购 borrowings, to pay for purchases of inventories and to fund 买存货之款项,以及为本集团之营运资金及正 the Group’s working capital and normal operating costs. Such 常经营成本拨资。有关增加主要是由于经营溢 increase was mainly attributable to increase in operating profit and 利及借贷增加所致。 borrowings. The Directors consider that the Group will have sufficient working 董事认为,本集团具备充裕营运资金,足以应 capital for its existing operations and financial resources for 付其现时业务所需,且具备充裕财务资源,可 financing future business expansion and capital expenditures. 为日后业务拓展及资本开支提供所需资金。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 15 Property, plant and equipment and prepaid lease payments 物业、机器及设备及预付租赁款项 As at As at 31.3.2019 31.3.2018 Changes 于二零一九年 于二零一八年 三月三十一日 三月三十一日 变动 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 Property, plant and equipment 物业、机器及设备 242,273 92,527 149,746 Prepaid lease payments (non-current) 预付租赁款项(非流动) 564,982 – 564,982 Prepaid lease payments (current) 预付租赁款项(流动) 17,183 – 17,183 824,438 92,527 731,911 The increase in property, plant and equipment and prepaid lease 物业、机器及设备及预付租赁款项增加乃主要 payments was mainly arisen from the acquisition of Beijing Wenfu 由于截至二零一九年三月三十一日止年度收购 Hengye Technology Development Co., Ltd.* (北京文福恒业科技发展 一间物业控股公司北京文福恒业科技发展有限 有限公司) (“Wenfu”), a property holding company during the year 公司(「文福」)所致。本集团就该交易初步录得 ended 31 March 2019. The Group initially recorded approximately 约130,700,000港元作为添置物业、机器及设 HK$130.7 million as additions in property, plant and equipment 备及约575,900,000港元作为预付租赁款项。 and approximately HK$575.9 million as prepaid lease payments 有关物业、机器及设备及预付租赁款项之更多 for the transaction. For more details about the property, plant and 详情,请参阅本报告第224至226页之财务报 equipment and prepaid lease payments, please refer to the notes 表附注16及17。有关交易之详情,请参阅本 16 and 17 to the financial statements on the pages 224 to 226 of 公司日期为二零一八年三月六日及二零一八 this report. For the details of the transaction, please refer to the 年九月三日之公布及日期为二零一八年四月 Company’s announcements dated 6 March 2018 and 3 September 二十四日之通函。 2018 and the circular dated 24 April 2018. Goodwill and other intangible assets 商誉及其他无形资产 As at As at 31.3.2019 31.3.2018 Changes 于二零一九年 于二零一八年 三月三十一日 三月三十一日 变动 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 Goodwill 商誉 397,545 206,171 191,374 Other intangible assets 其他无形资产 386,877 393 386,484 16 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 The increase in goodwill and other intangible assets was mainly 商誉及其他无形资产增加乃主要由于截至二零 arisen from the acquisition of Reliable Intelligence International 一九年三月三十一日止年度收购信智国际有限 Limited (currently known as San Sparkle Culture Investment Limited) 公司(现称盛耀蔚莱文化投资有限公司)及其附 and its subsidiaries which are principally engaged in property 属公司(主要在中国从事物业管理服务业务)所 management service business in the PRC during the year ended 31 致。有关商誉及其他无形资产之更多详情,请 March 2019. For more details about goodwill and other intangible 分别参阅本报告第227至228页,第229页及第 assets, please refer to the notes 18, 19 and 44 to the financial 273至 279页之财务报表附注18、19 及44。有 statements on pages 227 to 228, 229 and 273 to 279 of this report 关交易之详情,请参阅本公司日期为二零一八 respectively. For the details of the transaction, please refer to the 年六月二十五日之公布。 Company’s announcement dated 25 June 2018. Investment in films 投资电影 As at 31 March 2109, the Group recorded approximately HK$301.8 于二零一九年三月三十一日,本集团录得约 million of investment in films (31 March 2018: nil). Such investment 301,800,000港元(二零一八年三月三十一日: in films was arisen from the acquisition of Cheer Summit Investment 无)之电影投资。有关电影投资因收购采高投 Limited and its subsidiary which are principally engaged in the film 资有限公司及其附属公司(主要从事电影投资) investments. For more details about investment in films, please 而产生。有关投资电影之更多详情,请参阅本 refer to note 24 to the financial statements on page 236 to 237 of 报告第236至237页之财务报表附注24。有关 this report. For further details of the transaction, please refer to the 交易之进一步详情,请参阅本公司日期为二零 Company’s announcements dated 29 October 2018, 30 December 一八年十月二十九日、二零一八年十二月三十 2018 and 17 January 2019. 日及二零一九年一月十七日之公布。 Borrowings 借贷 The Group’s borrowings as at 31 March 2019 were approximately 本集团于二零一九年三月三十一日之借贷约为 HK$873.9 million, representing an increase of approximately 53.9% 873,900,000港元,较二零一八年三月三十一 from approximately HK$567.7 million as at 31 March 2018. The 日约567,700,000港元增加约53.9%。本集团 Group’s borrowings were mainly denominated in RMB. The increase 之借贷主要以人民币计值。增加主要是由于新 was mainly due to a new borrowing used for acquisition of Wenfu. 增借贷用于收购文福。 Gearing Ratio 资本负债比率 The Group’s gearing ratio computed as total borrowings over total 于二零一九年三月三十一日,本集团之资本 equity increased to approximately 36.8% as at 31 March 2019 (31 负债比 率(按总借贷除以权益总额计算)增 加 March 2018: approximately 18.8%). 至约36.8%(二零一八年三月三十一日:约 18.8%)。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 17 Inventories 存货 As at 31 March 2019, the Group’s inventories decreased by 于二零一九年三月三十一日,本集团之存货由 approximately 3.1% from approximately HK$1,061.4 million as at 31 二零一八年三月三十一日约1,061,400,000港 March 2018 to approximately HK$1,028.8 million. Such decrease 元减少约3.1%至约1,028,800,000港元。有关 was primarily due to the decrease in automobile inventories which 减少主要是由于汽车存货减少,占本集团存货 comprised approximately 53.8% of the inventories of the Group. 约53.8%所致。 The Group’s average inventory turnover days decreased from 145 本集团平均存货周转天数由截至二零一八年 days in the year ended 31 March 2018 to 121 days in the year ended 三月三十一日止年度之145天减少至截至二零 31 March 2019. 一九年三月三十一日止年度之121天。 Exposure to Foreign Exchange Risk 外汇风险 The revenue and expenses of the Group are mainly denominated 本集团之收益及开支主要以人民币及港元计 in RMB and HK$ while the production cost and purchases are 值,而生产成本及采购则以人民币、港元、欧 denominated in RMB, HK$, Euro (“EUR”), United States Dollar 元(「欧元」)、美元(「美元」)及瑞士法郎(「瑞士 (“US$”) and Swiss Franc (“CHF”). 法郎」)计值。 The Group did not enter into any foreign currency forward contract 于本财政年度内,本集团并无订立任何外汇 for this financial year. As at 31 March 2019 and 2018, the Group did 远期合约。于二零一九年及二零一八年三月 not have any foreign currency forward contracts. 三十一日,本集团并无任何外汇远期合约。 Contingent Liabilities and Capital Commitment 或然负债及资本承担 The Board of Directors of the Company considered that the Group 本公司董事会认为,本集团于二零一九年三月 had no material contingent liabilities as at 31 March 2019. (31 March 三十一日并无重大或然负债。(二零一八年三 2018: other than the possible obligations arising from the litigations 月三十一日:除诉讼可能引起的责任(如下文 (as mentioned in the paragraph headed “Concluded Litigations” 「已结案诉讼」一段所述)外,本集团并无重大 below), the Group had no material contingent liabilities.) 或然负债。) The Board of Directors of the Company considered that the Group 本公司董事会认为,本集团于二零一九年三月 had no material capital commitment as at 31 March 2019. (31 三十一日并无重大资本承担。(二零一八年三 March 2018: other than the commitment arising from the major and 月三十一日:除主要及关连交易-收购一间物 connected transaction – acquisition of a property holding company, 业控股公司产生之承诺外,本集团并无重大资 the Group had no material capital commitment.) 本承担。) 18 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Charges on Assets 资产抵押 As at 31 March 2019, property plant and equipment, prepaid lease 于二零一九年三月三十一日,本集团已抵押账 payment, deposits and inventories of the Group with aggregate 面总额分别约131,700,000港元(二零一八年三 carrying amounts of approximately HK$131.7 million (31 March 月三十一日:无)、约582,200,000港元(二零 2018: nil), approximately HK$582.2 million (31 March 2018: nil), 一八年三月三十一日:无)、约106,400,000港 approximately HK$106.4 million (31 March 2018: HK$91.4 million) 元(二零一八年三月三十一日:约91,400,000 and approximately HK$407.5 million (31 March 2018: approximately 港元)及约407,500,000港元(二零一八年三月 HK$484.1 million) respectively were pledged to secure general 三十一日:约484,100,000港元)之物业、机器 banking facilities and other facilities granted to the Group. 及设备、预付租赁款项、存款及存货,以取得 本集团获授之一般银行融资及其他融资。 Human Resources 人力资源 As at 31 March 2019, the Group had 530 (31 March 2018: 474) 于二零一九年三月三十一日,本集团共有530 employees. Staff costs (including directors’ emoluments) charged 名(二零一八年三月三十一日:474名)雇员。 to profit or loss amounted to approximately HK$65.3 million for this 本财政年度于损益表扣除之员工成本(包括董 financial year (31 March 2018: approximately HK$44.4 million). 事酬金)约为65,300,000港元(二零一八年三月 三十一日:约44,400,000港元)。 The Group provided benefits, which included basic salary, 本集团为雇员提供基本薪金、佣金、酌情花 commission, discretionary bonus, medical insurance and retirement 红、医疗保险及退休基金等福利,以维持本集 funds, for employees to sustain competitiveness of the Group. 团之竞争力。本集团每年按其表现及雇员之表 The package was reviewed on an annual basis based on the 现评估检讨有关待遇。本集团亦会向雇员提供 Group’s performance and employees’ performance appraisal. 培训,协助彼等持续发展。 The Group also provided training to the employees for their future advancement. Concluded Litigations 已结案诉讼 Reference was made to the Company’s announcement dated 28 兹提述本公司日期为二零一八年十二月二十八 December 2018 in relation to certain updates on the litigations 日内容有关本集团于中国牵涉之诉讼若干更新 involved by the Group in the PRC. 之公布。 The Board would also like to inform the shareholders and potential 董事会亦谨此通知本公司股东及有意投资者, investors of the Company that, with the conclusion of the First 随著该公布所载第一项诉讼结案,所有第一项 Litigation as set out in such announcement, all of the First Litigation, 诉讼、第二项诉讼及第三项诉讼均已结案。 the Second Litigation and the Third Litigation have been concluded. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 19 Use of proceeds from the placing 配售事项所得款项用途 As at 31 March 2019, the net proceeds from the placing of the 于二零一九年三月三十一日,于二零一七年 Company’s new shares completed on 13 November 2017 had been 十一月十三日完成配售本公司新股份之所得款 fully utilised as follows: 项净额已悉数动用如下: Revised use of net proceeds as disclosed in the Net proceeds Net proceeds announcement utilized from unutilised as dated 25 June As at 31 May 1 June 2018 As at 31 March at 31 March 2018 2018 onwards 2019 2019 日期为 二零一八年 六月二十五日 自二零一八年 于二零一九年 之公布所披露 六月一日起 三月三十一日 所得款项净额 于二零一八年 已动用所得 于二零一九年 未动用所得 经修订用途 五月三十一日 款项净额 三月三十一日 款项净额 HK$’million HK$’million HK$’million HK$’million HK$’million 百万港元 百万港元 百万港元 百万港元 百万港元 Repayment of borrowings 偿还借贷 108 108 – 108 – Expansion of the audio business of the Group and as general working capital 扩大本集团的音响业务及用作一般 营运资金 41 41 – 41 – Partial settlement of the consideration for the acquisition of property management business 支付部分所得款项净额用于收购物 业管理业务之代价 292 – 292 292 – Total 总计 441 149 292 441 – MAJOR AND CONNECTED TRANSACTION 主要及关连交易-完成收购一间房 COMPLETION OF ACQUISITION OF A 产控股公司 PROPERTY HOLDING COMPANY Reference is made to the Company’s announcements dated 6 兹提述本公司日期为二零一八年三月六日、二 March 2018, 3 September 2018 and the circular dated 24 April 零一八年九月三日之公布及日期为二零一八 2018. On 31 August 2018, the acquisition of Wenfu was completed. 年四月二十四日之通 函。 于二零一八年八月 三十一日,收购文福已告完成。 20 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 SIGNIFICANT ACQUISITIONS 重大收购 On 25 June 2018, Sparkle Roll Fine Wine Limited (currently known 于二零一八年六月二十五日,耀莱醇酿酒业有 as Sparkle Roll Global Asset Management Limited), an indirect 限公司(现称耀莱环球资产管理有限公司)(本 wholly-owned subsidiary of the Company, entered into a sale 公司的间接全资附属公司)(作为买方)与王强 and purchase agreement as purchaser with Mr. Wang Qiang as 先生(作为卖方)及信智国际有限公司(目标公 vendor and Reliable Intelligence International Limited, which is the 司主要在中国从事物业管理业务及提供租赁及 target company principally engaged in the business of property 转租服务)订立买卖协议,以收购目标公司的 management and provision of tenancy and sub-tenancy services 全部已发行股本。董事认为,该收购事项可扩 in the PRC, for the acquisition of the entire issued share capital 大本集团的业务范围及长远看来将会为本集 of the target company. The Directors were of the view that such 团带来稳定的收入及溢利来 源。 根据买卖协 acquisition can expand the scope of business of the Group and 议,支付之代价为人民币428,000,000元,而 shall bring in a source of stable income and profits of the Group 收购事项于回顾财政期间已完成。有关进一步 in the long run. Pursuant to the sale and purchase agreement, the 详情,请参阅本公司日期为二零一八年六月 consideration was paid at RMB428,000,000 and the acquisition 二十五日的公布。 was completed during the financial period under review. For further details, please refer to the Company’s announcement dated 25 June 2018. Besides, the Group had also acquired the entire issued share capital 此外,本集团亦于二零一九年一月收购采高 of Cheer Summit Investment Limited (which, through its subsidiary, 投资有限公司(该公司透过其附属公司主要在 is principally engaged in movies industry in China) in January 2019 中国从事电影业)之全部已发行股本,该收购 which constituted a discloseable transaction of the Company. 构成本公司之一项须予披露交易。于收购完 Upon completion of the acquisition, 340,000,000 new shares of the 成后,本公司以向卖方按每股0.3港元配发及 Company were issued and allotted by the Company at HK$0.3 each 发行本公司340,000,000股新股份方式作为支 to the vendor as settlement of the initial consideration. For further 付初始代价。有关进一步详情,请参阅本公司 details, please refer to the Company’s announcements dated 29 日期为二零一八年十月二十九日、二零一八年 October 2018, 30 December 2018 and 17 January 2019. 十二月三十日及二零一九年一月十七日的公 布。 QUALIFIED OPINION 保留意见 As mentioned in this report, our independent auditor, BDO Limited, 诚如本年报所述,独立核数师香港立信德豪会 issued a qualified opinion on the Group’s consolidated financial 计师事务所有限公司已就本集团截至二零一九 statements for the year ended 31 March 2019. Such qualified 年三月三十一日止年度的综合财务报表发表保 opinion is related to the comparative figures of the Group’s 留意见。该保留意见与本集团于二零一七年四 investment in B&O between 1 April 2017 and the date of deemed 月一日至视作出售于联营公司之投资之日期于 disposal of investment in associate, where the Group’s share of B&O之投资之比较数字有关,即本集团于其截 the loss of B&O as an associate in the amount of approximately 至二零一八年三月三十一日止年度的综合财务 HK$12,779,000, and a gain on deemed disposal of investment in 报表中应占B&O(作为一间联营公司)之亏损约 an associate in the amount of approximately HK$585,588,000 in 12,779,000港元及视作出售于一间联营公司投 the Group’s consolidated financial statements for the year ended 资收益约585,588,000港元。有关该保留意见 31 March 2018. For more details of such qualified opinion, please 之详情,请参阅本年报独立核数师报告「保留 refer to the section headed “Qualified Opinion” of the Independent 意见」一节。 Auditor’s Report of this Annual Report. As the qualified opinion is related to the corresponding figures which 由于该保留意见与本集团截至二零一八年三月 is a consequential effect resulting from the qualified opinion on the 三十一日止年度综合财务报表有关之保留意见 Group’s consolidated financial statements for the year ended 31 产生之后续影响之相关数据有关,董事预期, March 2018, the Directors expect that similar qualified opinion will 就本集团截至二零二零年三月三十一日止年度 not be issued in the Group’s financial statements for the year ending 之财务报表将不会发出类似保留意见。 31 March 2020. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 21 The Audit Committee of the Company has critically reviewed 本公司审核委员会已严格审阅管理层就主要判 the management’s position on the major judgmental areas and 断领域之态度,并得出结论,与管理层就核数 concluded that there is no disagreement with the management’s 师出具的保留意见之态度并无分歧及随后已向 position on the qualified opinion issued by the auditors and then 董事作出相同推荐意见以供批准。 recommended the same to the Directors for approval. RECENT DEVELOPMENT AND PROSPECT 近期发展及前景 China is on track to be the largest luxury cars market in a few years. 于未来数年,中国有望成为最大的豪华汽车 Super brands including Audi, Mercedes Benz and Porsche had 市场。 根据中国乘用车协会刊登日期为二零 recorded brilliant sales in China during 2018 based on a summary 一九年一月三十日的概述,各大超级品牌(包 published by China Passenger Car Association (“CPCA”) dated 30 括奥迪、梅赛德斯奔驰及保时捷)于二零一八 January 2019. Audi gained the crown in China in terms of the 2018 年在中国均录得辉煌业 绩。按二零一八年单 single luxury car brand sales. Last year, it saw its China sales grow 一豪华汽车品牌销售额计,奥迪在中国取得冠 at 10.9% from the previous year. Out of that, sales of China made 军。去年, 其中国的销售额较上一年度增长 Audi cars exceeded 600,000 units for the first time with a year-on- 10.9%。其中,中国产奥迪汽车的销量首次超 year increase of 10.2%. Deliveries of imported cars jumped 20% to 过600,000辆,按年增长10.2%。进口汽车的交 60,188 units in 2018. Additionally, Mercedes-Benz also did quite a 付于二零一八年急升20%至60,188辆。此外, good performance in 2018 which its sales evidently climbed 11.1% 梅赛德斯奔驰于二零一八年亦表现非常良好, from a year ago to 652,996 units. For Porsche, China once again 其销量较一年前攀升11.1%至652,996辆。至于 became the largest single market for the brand in 2018, who saw its 保时捷,中国二零一八年再次成为该品牌的最 sales rose 12% from a year ago. 大单一市场,其销售额较一年前上升12%。 Although the China luxury cars market continues to grow in 2018, 尽管中国豪华汽车市场于二零一八年继续增 the Group maintains a prudent view towards our 3 super brands. 长,但本集团将对三大超级品牌保持谨慎观 Due to the policy of National VI emission standards for motor 点。由于《国家第六阶段机动车污染物排放标 vehicles (国家第六阶段机动车污染物排放标准), the production of 准》政策,宾利产量受到影响,因此于未来财 Bentley is affected and hence the supply of Bentley to the Group 政年度向本集团供应宾利将有所减少。然而, will decrease in the upcoming financial year. However, according 根据该制造商之资料,宾利将于未来财政年度 to the manufacturer, Bentley will be delivering new models of 下半年交付Continental GT及Flying Spur新型 Continental GT and Flying Spur in the second half of the upcoming 号。兰博基尼的销售因其新发布的运动车型 financial year. The sale of Lamborghini will maintain its sustainability Urus于本财政年度将会保持可持续的销售额。 due to its newly released SUV – Urus during the current financial 由于劳斯莱斯供应将有所增加,市场价格或不 year. As the supply of Rolls-Royce will increase, the market price 可避免地承受压力。上述因素对未来财政年度 may be inevitably under pressure. The above factors may have a 本集团汽车分销分部的收益贡献可能产生温和 modest downward impact on the revenue contributions to the auto 的下行影响。 dealerships segment of the Group in the upcoming financial year. Regarding the Group’s non-auto dealerships segment, the products 至于本集团的非汽车分销分部,由于中国个人 of B&O are expected to maintain growth in revenue in the upcoming 所得税下调及因此消费能力提高,预计B&O产 financial year since personal income tax in China dropped and thus 品于未来财政年度保持收益增长。就腕表、珠 consumption power raised. For watch, jewellery and fine wines, the 宝及名酒而言,近年来相关分部持续萎缩,因 relevant segments have continued shrinking in recent years, hence 此,减少有关库存将仍为本集团未来财政年度 destocking such inventories will remain one of the missions of the 的其中一个任务。 Group in the upcoming financial year. For others segment, the Group is optimistic towards its 就其他分部而言,本集团对其发展保持乐观态 development. As there is a time frame for film production and official 度。由于中国内地电影制作及正式批准需要一 approval in mainland China, we expect such segment will not bring 定的时间,我们预计该分部在未来财政年度将 substantial contribution to the Group in the upcoming financial year. 不会对本集团带来重大贡献。 22 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 PRINCIPAL ACTIVITIES 主要业务 The Company is an investment holding company. Its subsidiaries 本公司为一间投资控股公司。其附属公司主要 are principally engaged in distributorships of luxury goods and 于香港、中国内地及马来西亚从事奢侈品及汽 automobiles and provision of after-sales services, property 车代理业务,及提供售后服务、物业管理服 management services, catering services and property rental 务、餐饮服务及物业租赁服务。主要附属公司 services. The Group’s operations are mainly based in Hong Kong, 之主要业务详情载于财务报表附注40。 Mainland China and Malaysia. Details of the principal activities of the principal subsidiaries are set out in note 40 to the financial statements. BUSINESS REVIEW 业务审视 A fair review of the Group’s business, including the Group’s 对本集团业务之中肯审视载于本年报中之「主 segmental analysis, the important events affecting the Group that 席报告 」以 及「管理层讨论及分析」两节,当 have occurred since the end of 31 March 2019 and the likely future 中包括本集团的分部分析、在二零一九年三月 developments, is set out in the sections headed “the Chairman’s 三十一日终结后发生的、对本集团有影响的重 Statement” and “Management Discussion and Analysis” of this 大事件以及相当可能有的未来发展的揭示。 Annual Report. Details about the principal risks and uncertainties that the Group 有关本集团面对之主要风险及不明朗因素之详 is facing, are set out in the section headed “Risk Management and 情载于本年报中之企业管治报告内的「风险管 Internal Controls” of the Corporate Governance Report contained in 理及内部监控」一节。 this Annual Report. Details about the Group’s financial risk management are set out in 有关本集团财务风险管理之详情载于财务报表 note 42 to the financial statements. 附注42。 DIVIDEND 股息 The Directors do not recommend the payment of a final dividend 由于本集团希望储备更多资金以经营及发展现 for the year ended 31 March 2019 (31 March 2018: nil) while no 有业务,本公司董事(「董事」)并不建议派发截 interim dividend (2018: nil) had been distributed during the year as 至二零一九年三月三十一日止年度的末期股息 the Group would like to reserve more capital to operate and develop (二零一八年三月三十一日:无),亦无于年内 the existing businesses. 分派中期股息(二零一八年:无)。 SHARE OPTION SCHEME 购股权计划 The Company’s share option scheme (the “Scheme”) was adopted 本公司之购股权计划(「该计划」)乃根据本公司 pursuant to an ordinary resolution passed at a special general 于二零零二年十月七日举行之股东特别大会上 meeting of the Company held on 7 October 2002 for the primary 通过之普通决议案采纳,其主要目的为给予董 purpose of providing incentives to the Directors and eligible 事及合资格雇员奖励。该计划已于二零一二年 employees. The Scheme expired on 6 October 2012. 十月六日届满。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 23 Pursuant to an ordinary resolution passed at the annual general 根据本公司于二零一二年八月二十日举行之股 meeting of the Company held on 20 August 2012, the Company’s 东周年大会上通过之普通决议案,本公司已采 new share option scheme (the “New Scheme”) was adopted. 纳新购股权计划(「新计划」)。新计划由二零 The New Scheme is valid and effective for a term of ten years 一二年八月二十日起有效及生效,为期十年。 commencing from 20 August 2012. There are approximately 3 years 新计划尚余年期约为三年。 remaining life of the New Scheme. The total number of shares in respect of which options may 于二零一九年三月三十一日,可根据新计划授 be granted under the New Scheme as at 31 March 2019 was 出之购股权所涉及之股份总数为297,982,885 297,982,885 shares (including options for nil share that have been 股(包括已授出但尚未失效或行使之购股权涉 granted but not yet lapsed or exercised), representing 10% of the 及之零股股份),即本公司于初步批准采纳新 issued share capital of the Company as at the date of approval of 计划当日已发行股本之10%。 the adoption of the New Scheme initially. The Company operates the New Scheme for the purpose of 本公司设立新计划,以向对本集团业务之成功 providing incentives and rewards to eligible participants who 作出贡献之合资格参与者提供奖励及回报。 contribute to the success of the Group’s business. Eligible 新计划之合资格参与者包括任何董事(包括执 participants of the New Scheme include any Director (including 行、非执行及独立非执行董事)、任何雇员, Executive, Non-executive and Independent Non-executive 或任何咨询人、顾问、客户及业务联系人。 Directors), any employee, or any consultant, advisor, customer and business associates. There was no outstanding share to be issued under the New 于二零一九年三月三十一日,概无根据新计划 Scheme as at 31 March 2019 (as at 31 March 2018: nil). 须予发行而未发行之股份(于二零一八年三月 三十一日:无)。 MAJOR CUSTOMERS AND SUPPLIERS 主要客户及供应商 For the year ended 31 March 2019, the largest and the top five 截至二零一九年三月三十一日止年度,本集团 suppliers of the Group accounted for 43.3% and 97.0% of the 最大及五大供应商分别占本集团总采购额之 Group’s total purchases respectively. The largest and the top five 43.3%及97.0%。本集团最大及五大客户占本 customers of the Group accounted for less than 10% of the Group’s 集团之总收益均少于10%。 total revenue. At no time during the year under review did a Director, an associate 本公司各董事、董事之联系人或股东(据董事 of a Director or a shareholder of the Company (which to the 所知拥有本公司股本5%以上)于回顾年度内任 knowledge of the Directors owns more than 5% of the Company’s 何时间概无拥有本集团于本财政年度内五大供 share capital) had a beneficial interest in any of the Group’s five 应商或客户之任何实益权益。 largest suppliers or customers for this financial year. 24 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 RESULTS AND APPROPRIATIONS 业绩及分派 The results of the Group for the year ended 31 March 2019 are 本集团截至二零一九年三月三十一日止年度之 set out in the consolidated statement of comprehensive income on 业绩载于本年报第113及114页之综合全面收 pages 113 and 114 of this Annual Report. 入报表内。 The Directors do not recommend the payment of any dividend in 董事不建议就本财政年度派发任何股息。 respect of this financial year. RESERVES 储备 Details of the movements in the reserves of the Group and the 本集团及本公司储备于本财政年度内之变动详 Company during this financial year are set out in the consolidated 情分别载于第119及120页之综合股本权益变 statement of changes in equity on page 119 and 120 and note 46 to 动表及财务报表附注46。 the financial statements respectively. DISTRIBUTABLE RESERVES 可供分派储备 In addition to retained profits, under the Bermuda Companies Act, 根据百慕达公司法,除保留溢利外,本公司之 the contributed surplus account of the Company is also available 缴入盈余账亦可供分派予其股东。然而,倘发 for distribution to its shareholders. However, the Company cannot 生以下情况,则本公司不得从缴入盈余中宣派 declare or pay a dividend, or make a distribution, out of contributed 或支付股息或作出分派: surplus if: (a) it is, or would after the payment be, unable to pay its liabilities (a) 本公司无法或在付款后未能偿还到期债 as they become due; or 务;或 (b) the realisable value of its assets would thereby be less than the (b) 本公司资产之可变现价值将会因此而低 aggregate of its liabilities and its issued share capital and share 于其负债、已发行股本及股份溢价账之 premium accounts. 总和。 In the opinion of the Directors, the distributable reserve accounts 董事认为,可供分派储备账包括本公司储备 comprise the reserves of the Company of approximately 盈余约370,299,000港元( 二零一八年:盈余 HK$370,299,000 in surplus (2018: HK$475,891,000 in surplus). 475,891,000港元)。 SHARE CAPITAL 股本 Details of the movements during this financial year in the share 本公司股本于本财政年度内之变动详情载于财 capital of the Company are set out in note 34 to the financial 务报表附注34。 statements. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 25 BORROWINGS 借贷 Particulars of borrowings of the Group as at 31 March 2019 are set 本集团于二零一九年三月三十一日之借贷详情 out in note 32 to the financial statements. 载于财务报表附注32。 FINANCIAL SUMMARY 财务概要 A summary of the published results and assets, liabilities and non- 本集团之已公布业绩、资产与负债及非控股权 controlling interests of the Group for the past five financial years is 益于过去五个财政年度之概要载于本年报第 set out on page 284 of this Annual Report. 284页。 PROPERTY, PLANT AND EQUIPMENT 物业、机器及设备 Details of the movements during this financial year in the property, 本集团之物业、机器及设备于本财政年度内之 plant and equipment of the Group are set out in note 16 to the 变动详情载于财务报表附注16。 financial statements. DIRECTORS AND SERVICE CONTRACTS 董事及服务合约 The Directors of the Company during this financial year and up to 本财政年度内及截至本年报刊发日期止,本公 the date of this Annual Report were as follow: 司之董事如下: Executive Directors: 执行董事: Mr. Zheng Hao Jiang 郑浩江先生 Mr. Zhao Xiaodong 赵小东先生 Mr. Zhu Lei 朱雷先生 Non-executive Directors: 非执行董事: Mr. Gao Yu 高煜先生 Mr. Qi Jian Wei 綦建伟先生 Independent Non-executive Directors: 独立非执行董事: Mr. Choy Sze Chung, Jojo 蔡思聪先生 Mr. Lam Kwok Cheong 林国昌先生 Mr. Lee Thomas Kang Bor 李镜波先生 26 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 In accordance with bye-law no. 86(2) of the Company’s Bye-laws, 根据本公司之公司细则第86(2)条之规定,任 any Director appointed by the Board as an addition to the existing 何获董事会委任以增加现时董事会成员人数之 Board shall hold office only until the next following annual general 董事,其任期将仅至其获委任后之本公司下届 meeting of Company after his appointment and be subject to re- 股东周年大会为止并有资格在该大会上膺选连 election at such meeting. 任。 In accordance with bye-law no. 87(1) of the Company’s Bye-laws, 根据本公司之公司细则第87(1)条之规定,每位 every director should be subject to retirement by rotation at the 董事须最少三年一次于股东周年大会上轮值告 annual general meeting at least once every three years and are 退,并符合资格可膺选连任。 eligible for re-election. No Director proposed for re-election at the forthcoming annual 拟于应届股东周年大会上膺选连任之董事概无 general meeting has a service contract with the Company or its 与本公司或其附属公司订立本集团不可于一年 subsidiaries which is not determinable by the Group within one 内免付补偿( 法 定补偿除外)而 终止之服务合 year without payment of compensation (other than statutory 约。 compensation). The term of office of each Independent Non-executive Director is 各独立非执行董事之任期为两年,另可延续一 for the period of two years and renewable for one year up to his 年,直至彼根据本公司之公司细则轮值告退为 retirement by rotation in accordance with the Company’s Bye-laws. 止。 In accordance with bye-law no.86(2) of the Company’s Bye-laws, 根据本公司之公司细则第86(2)条之规定,赵小 Mr. Zhao Xiaodong was appointed as the Executive Director during 东先生于本财政年度内已获委任执行董事,任 this financial year and will hold office until the forthcoming annual 期直至本公司迎接股东周年大会为止。赵小东 general meeting of the Company. Mr. Zhao Xiaodong will offer 先生将于迎接股东周年大会上膺选连任。 himself for re-election at the forthcoming annual general meeting. In accordance with code provision A.4.3 of Appendix 14 to the 根据联交所证券上市规则(「 上市规则 」)附 录 Rules Governing the Listing of Securities on the Stock Exchange 十四守则条文第 A.4.3条,任职9年以上可能与 (the “Listing Rules”), serving more than 9 years could be relevant to 决定非执行董事是否为独立人士存在相关性。 the determination of a Non-executive Director’s independence. If 若独立非执行董事任职超过9年,其进一步委 an Independent Non-executive Director serves more than 9 years, 任事项须以股东批准独立决议案方式通过。随 his further appointment should be subject to a separate resolution 附该项决议案的致股东文件内应载有董事会相 to be approved by shareholders. The papers to shareholders 信其仍保持独立及应膺选连任的理由。 accompanying that resolution should include the reasons why the board believes he is still independent and should be re-elected. In accordance with bye-law no. 87(1) of the Company’s Bye-laws, 根据本公司之公司细则第87(1)条,高煜先生、 Mr. Gao Yu, Mr. Qi Jian Wei and Mr. Choy Sze Chung, Jojo will retire 綦建伟先生及蔡思聪先生将轮值告退及符合资 by rotation and, being eligible, offer themselves for re-election. In 格膺选连任。此外,由于蔡思聪先生已于本公 addition, as Mr. Choy Sze Chung, Jojo has served the Company for 司任职九年以上,彼之委任将以独立决议案形 more than nine years, his appointment will be subject to a separate 式于本公司迎接股东周年大会上由股东审议通 resolution to be approved by the shareholders at the forthcoming 过。 annual general meeting of the Company. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 27 Details of the Directors’ emoluments are set out in note 12 to the 董事酬金详情载于财务报表附注12。 financial statements. The biographical details of the Directors and senior management are 董事及高级管理人员之履历详情载于本年报第 set out on pages 68 to 77 of this Annual Report. 68至77页。 CONFIRMATION OF INDEPENDENCE OF 独立非执行董事之独立性确认书 INDEPENDENT NON-EXECUTIVE DIRECTORS The Company has received, from each of the Independent 本公司已收到各独立非执行董事遵照上市规则 Nonexecutive Directors, an annual confirmation of his independence 第3.13条就其独立性所呈交之年度确认书。本 pursuant to Rule 3.13 of the Listing Rules. The Company considers 公司认为全体独立非执行董事均属独立人士。 that all Independent Non-executive Directors are independent. DIRECTORS’ INTERESTS IN TRANSACTIONS, 董事于重大交易、安排或合约之 ARRANGEMENTS OR CONTRACTS OF 权益 SIGNIFICANCE Except as disclosed in note 39 to and elsewhere in the financial 除财务报表附注39及其其他部分所披露者外, statements, there are no transactions, arrangements or contracts 于本财政年终或本财政年内任何时间,概无存 of significance to which the Company or any of its subsidiaries 在由本公司或其任何附属公司所进行或订立且 was a party and in which a Director of the Company had a material 本公司董事于其中直接或间接拥有重大利益之 interest, whether directly or indirectly, subsisted at the end of this 重大交易、安排或合约。 financial year or at any time during this financial year. DIRECTORS’ INTEREST IN A COMPETING 董事于竞争业务之权益 BUSINESS Pursuant to Rule 8.10 of the Listing Rules, the Company disclosed 根据上市规则第8.10条,本公司披露概无本公 that no Directors of the Company is considered to have interests in 司董事被视为于可能与本集团业务存在直接或 any business which is likely to compete directly or indirectly with the 间接竞争之任何业务中拥有权益。 business of the Group. MANAGEMENT CONTRACTS 管理合约 No contract concerning the management and administration of the 本财政年内,本公司并无订立或保留任何有关 whole or any substantial part of the business of the Company was 本公司整体或其中任何重大部分业务之管理及 entered into or existed during this financial year. 行政合约。 PERMITTED INDEMNITY 获准许之弥偿 Pursuant to the bye-law no. 168(1) of the Company’s Bye-Laws, 根据本公司之公司细则第168(1)条,本公司各 the Directors, secretary or other officers of the Company shall 董事、秘书或其他高级职员获得弥偿保证,因 be entitled to be indemnified out of the assets and profits of the 执行职务或与此相关之其他原因而蒙受或招致 Company from and against all losses or damages which he may 之一切损失或损害赔偿,将从本公司资产及溢 sustain or incur in or about the execution of the duties of his office, 利获得弥偿。 or otherwise in relation thereto. 28 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 The Company has arranged appropriate directors’ and officers’ 本公司已就董事及本集团高级职员安排合适之 liability insurance coverage for the directors and officers of the 董事及高级职员责任保险。 Group. DIRECTORS’ INTERESTS IN SHARES, 董事于本公司及其相联法团之 UNDERLYING SHARES AND DEBENTURES 股份、相关股份及债券之权益 OF THE COMPANY AND ITS ASSOCIATED CORPORATIONS As at 31 March 2019, the interests and short positions of the 于二零一九年三月三十一日,本公司各董事 Directors and/or the chief executives of the Company in the 及╱或最高行政人员于本公司及其相联法团 shares, underlying shares and debentures of the Company and (定义见证券及期货条例(「证券及期货条例」) its associated corporations (within the meaning of Part XV of the 第XV部)之股份、相关股份及债券中拥有(i)根 Securities and Futures Ordinance (the “SFO”)) which were required 据证券及期货条例第XV部第7及第8分部须 to be (i) notified to the Company and The Stock Exchange of Hong 知会本公司及香港联合交易所有限公司(「 联 Kong Limited (the “Stock Exchange”) pursuant to Divisions 7 and 8 交所」)之权益及淡仓(包括根据证券及期货条 of Part XV of the SFO (including interests and short positions which 例有关条文彼被当作或视作拥有之权益及淡 he was taken or deemed to have under such provisions of the SFO); 仓);或(ii)本公司根据证券及期货条例第352条 or (ii) as recorded in the register required to be maintained by the 须予存置之登记册所记录之权益及淡仓;或(iii) Company pursuant to Section 352 of the SFO; or (iii) as otherwise 根据上市规则附录十所载上市发行人董事进行 notified to the Company and the Stock Exchange pursuant to the 证券交易的标准守则须另行知会本公司及联交 Model Code for Securities Transactions by Directors of Listed 所之权益及淡仓如下: Issuers as set out in Appendix 10 to the Listing Rules, were as follows: Long position in the shares, underlying shares and 于本公司股份、相关股份及债券之好仓 debentures of the Company Approximate Number of percentage of Name of director Capacity shares held interest 董事姓名 身份 持有股份数目 权益概约百分比 (Note 2) (附注2) Mr. Zheng Hao Jiang Interest of controlled corporation (Note 1) 10,640,000 0.21% 郑浩江先生 控制法团权益(附注1) Mr. Choy Sze Chung, Jojo Beneficial owner 1,000,000 0.02% 蔡思聪先生 实益拥有人 Mr. Lee Thomas Kang Bor Beneficial owner 1,680,000 0.03% 李镜波先生 实益拥有人 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 29 Notes: 附注: (1) These 10,640,000 Shares were held by Keyking Mission Group Co., Ltd, (1) 该10,640,000股股份由郑浩江先生全资拥有 a company is wholly owned by Mr. Zheng Hao Jiang. Accordingly, Mr. 之公司Keyking Mission Group Co., Ltd持有。 Zheng Hao Jiang was deemed to be interested in these Shares. 因此,郑浩江先生被视为于此等股份中拥有 权益。 (2) The denominator used is 5,019,061,447 shares, being the total number (2) 所用分母为5,019,061,447股股份,即于二零 of shares of the Company in issue as at 31 March 2019. 一九年三月三十一日本公司之已发行股份总 数。 SHARE OPTIONS 购股权 The New Scheme was adopted pursuant to an ordinary resolution 新计划乃根据本公司于二零一二年八月二十日 passed at the general meeting of the Company held on 20 August 举行之股东大会上通过之普通决议案采纳。 2012. SUBSTANTIAL SHAREHOLDERS’ INTERESTS 主要股东于本公司股份及相关股份 IN SHARES AND UNDERLYING SHARES OF 之权益 THE COMPANY As at 31 March 2019, the register maintained by the Company 于二零一九年三月三十一日,按本公司根据证 pursuant to Section 336 of the SFO shows that, other than 券及期货条例第336条之规定存置之登记册所 a Director or chief executive of the Company, the following 示,除本公司董事或最高行政人员外,下列股 shareholders had notified the Company of relevant interests and 东已知会本公司彼等于本公司股份及相关股份 short positions in the shares and underlying shares of the Company: 之相关权益及淡仓: Long position or short position in the shares 于股份之好仓或淡仓 Approximate Number of percentage of Name of shareholder Capacity shares Interest 股东姓名╱名称 身份 股份数目 权益概约百分比 (Note 1) (Note 2) (附注1) (附注2) Sparkle Roll Holdings Limited Beneficial owner 2,321,012,630 (L) 46.24% 耀莱控股有限公司 实益拥有人 Mr. Qi Jian Hong alias Beneficial owner 286,224,000 (L) 5.70% Mr. Kei Kin Hung (“Mr. Qi”) 实益拥有人 (Notes 3 to 6) Interested of controlled corporation 綦建虹先生(「綦先生」)(附注3至6) (Notes 3 to 6) 控制法团权益(附注3至6) 2,321,012,630 (L) 46.24% 2,607,236,630 51.95% 30 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Approximate Number of percentage of Name of shareholder Capacity shares Interest 股东姓名╱名称 身份 股份数目 权益概约百分比 (Note 1) (Note 2) (附注1) (附注2) Ms. Zhu Shuang (Note 3) Interest of spouse (Note 3) 2,607,236,630 (L) 51.95% 朱爽女士(附注3) 配偶权益(附注3) Able Honour Holdings Limited Having a security interest in shares (Note 4) 1,200,000,000 (L) 23.91% 拥有股份保证权益(附注4) Ms. Xu Jiaying Interested of controlled corporation (Note 4) 1,200,000,000 (L) 23.91% 徐佳莹女士 控制法团权益(附注4) Beneficial owner 4,208,000 (L) 0.08% 实益拥有人 1,240,208,000 23.99% Mr. Lam Chi Kin (Note 5) Beneficial owner 100,000,000 (L) 1.99% 林志坚先生(附注5) 实益拥有人 Person having a security interest in shares 300,000,000 (L) 5.98% (Note 5) 个人拥有股份保证权益(附注5) 400,000,000 7.97% Mr. Lin Peng (Note 6) Person having a security interest in shares 300,000,000 (L) 5.98% (Note 6) 林鹏先生(附注6) 个人拥有股份保证权益(附注6) Ms. Tam Cho Wai Josephine Beneficial owner 340,000,000 (L) 6.77% 谭祖慧女士 实益拥有人 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 31 Notes: 附注: (1) The letter “L” denotes a person’s “long position” in such Shares and the (1) 字母「L」指相关人士于该等股份的「好仓」及 letter “S” denotes a person’s “short position” in such Shares. 字母「S」指相关人士于该等股份的「淡仓」。 (2) The percentage of shareholding is calculated on the basis of (2) 股权百分比按于二零一九年三月三十一日已 5,019,061,447 Shares in issue as at 31 March 2019. 发行5,019,061,447股股份为基准计算。 (3) These 2,321,012,630 Shares were held by Sparkle Roll Holdings (3) 该等2,321,012,630股股份由耀莱控股有限公 Limited. Sparkle Roll Holdings Limited is a company wholly owned by Mr. 司持有。耀莱控股有限公司由綦先生全资拥 Qi. Accordingly, Mr. Qi was deemed to be interested in the Shares held 有。因此,綦先生被视为于耀莱控股有限公司 by Sparkle Roll Holdings Limited. Ms. Zhu Shuang is the wife of Mr. Qi. 所持有的股份中拥有权益。朱爽女士为綦先生 Accordingly, Ms. Zhu Shuang was deemed to be interested in the Shares 的配偶。因此,朱爽女士被视为于莱控股有限 held by Sparkle Roll Holdings Limited and Mr. Qi. 公司及綦先生所持有的股份中拥有权益。 (4) Among these 2,321,012,630 Shares, 1,200,000,000 Shares have (4) 该等2,321,012,630股股份中,1,200,000,000 been charged to Able Honour Holdings Limited as security interest. 股股份已抵押予Able Honour Holdings Limited Able Honour Holdings Limited is 100% controlled by Ms. Xu Jiaying. 作为保证权益。Able Honour Holdings Limited Accordingly, Ms. Xu Jiaying is deemed to be interested in all the Shares 由徐佳莹女士拥有100%控制权。因此,徐佳 in which Able Honour Holdings Limited is interested. 莹女士被视作于Able Honour Holdings Limited 拥有权益的所有股份中拥有权益。 (5) Among these 2,321,012,630 Shares, 300,000,000 Shares have been (5) 该等2,321,012,630股股份中,300,000,000 charged to Mr. Lam Chi Kin (“Mr. Lam”) as security interest 股股份已抵押予林志坚先生(「林志坚先生」) 作为保证权益。 (6) Among these 2,321,012,630 Shares, 300,000,000 Shares have been (6) 该等2,321,012,630股股份中,300,000,000 charged to Mr. Lin Peng (“Mr. Lin”) as security interest 股股份已抵押予林鹏先生(「林鹏先生」)作为 保证权益。 Save as disclosed above, as at 31 March 2019, the Directors 除上文所披露者外,于二零一九年三月三十一 were not aware of any other person (other than the Directors and 日,董事概不知悉有任何其他人士(董事及本 the chief executive of the Company) who had, or was deemed to 公司最高行政人员除外)于股份或相关股份中 have, interests or short positions in the shares or underlying shares 拥有或被视为拥有根据证券及期货条例第XV部 (including any interests in options in respect of such capital), which 第2及第3分部之条文须向本公司及联交所披露 would fall to be disclosed to the Company and the Stock Exchange 之权益或淡仓(包括于有关股本之购股权之任 under the provisions of Divisions 2 and 3 of Part XV of the SFO, 何权益),或直接或间接拥有于所有情况下附 or who was directly or indirectly interested in 5% or more of the 带权利可于本集团任何成员公司之股东大会上 nominal value of any class of share capital carrying rights to vote in 投票之任何类别股本面值5%或以上之权益。 all circumstances at general meetings of any member of the Group. 32 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 ARRANGEMENTS TO PURCHASE SHARES OR 购买股份或债券之安排 DEBENTURES Other than as disclosed in the section headed “Share Options” 除上文「购股权」一节所披露者外,于本财政年 above, at no time during this financial year was the Company, fellow 内任何时间,本公司、同系附属公司或其任何 subsidiaries or any of its subsidiaries a party to any arrangements to 附属公司概无订立任何安排,致使本公司董事 enable the directors of the Company to acquire benefits by means of 可藉收购本公司或任何其他法人团体之股份或 the acquisition of shares in, or debentures of, the Company or any 债券而获益。 other body corporate. PURCHASE, SALE OR REDEMPTION OF 购买、出售或赎回本公司之上市 LISTED SECURITIES OF THE COMPANY 证券 The Company repurchased a total of 281,552,000 Shares on the 本公司自二零一八年七月至二零一九年三月以 Hong Kong Stock Exchange at an aggregate consideration of 总代价84,833,473.37港元在香港联交所购回 HK$84,833,473.37 from July 2018 to March 2019. As at 31 March 合共281,552,000股股份。于二零一九年三月 2019, all the repurchased Shares have been cancelled except for 三十一日,除于二零一九年三月二十五日或之 the repurchases carried out on or after 25 March 2019 (which have 后进行的股份购回(该等股份已于二零一九年 already been cancelled on 10 April 2019). 四月十日注销)外,所有购回的股份均已注销。 Number of Highest Lowest Average shares Date of repurchase price price price repurchased Total paid 购回日期 最高价 最低价 平均价 购回股份数目 已付总额 HK$ HK$ HK$ HK$ 港元 港元 港元 港元 1 9 July 2018 二零一八年七月九日 0.32 0.285 0.29737 18,712,000 5,564,443.58 2 16 July 2018 二零一八年七月十六日 0.32 0.295 0.31188 3,000,000 935,640.00 3 23 July 2018 二零一八年七月二十三日 0.3 0.29 0.29903 22,200,000 6,638,466.00 4 24 July 2018 二零一八年七月二十四日 0.3 0.29 0.29636 1,800,000 533,440.80 5 25 July 2018 二零一八年七月二十五日 0.3 0.29 0.29773 30,400,000 9,051,052.80 6 27 July 2018 二零一八年七月二十七日 0.3 0.295 0.29904 26,000,000 7,774,988.00 7 31 July 2018 二零一八年七月三十一日 0.3 0.29 0.29730 22,000,000 6,540,600.00 8 2 August 2018 二零一八年八月二日 0.3 0.295 0.29874 26,000,000 7,767,240.00 9 3 August 2018 二零一八年八月三日 0.295 0.295 0.29500 6,000,000 1,770,000.00 10 6 August 2018 二零一八年八月六日 0.28 0.28 0.28000 2,400,000 672,000.00 11 7 August 2018 二零一八年八月七日 0.3 0.28 0.28908 8,000,000 2,312,640.00 12 8 August 2018 二零一八年八月八日 0.3 0.3 0.30000 11,000,000 3,300,000.00 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 33 Number of Highest Lowest Average shares Date of repurchase price price price repurchased Total paid 购回日期 最高价 最低价 平均价 购回股份数目 已付总额 HK$ HK$ HK$ HK$ 港元 港元 港元 港元 13 10 August 2018 二零一八年八月十日 0.3 0.295 0.29996 10,000,000 2,999,600.00 14 14 August 2018 二零一八年八月十四日 0.3 0.29 0.29833 8,400,000 2,505,963.60 15 27 August 2018 二零一八年八月二十七日 0.3 0.285 0.29446 4,520,000 1,330,959.20 16 28 August 2018 二零一八年八月二十八日 0.3 0.3 0.30000 1,720,000 516,000.00 17 29 August 2018 二零一八年八月二十九日 0.3 0.295 0.29852 7,048,000 2,103,997.15 18 30 August 2018 二零一八年八月三十日 0.3 0.3 0.30000 39,976,000 11,992,800.00 19 31 August 2018 二零一八年八月三十一日 0.3 0.3 0.30000 200,000 60,000.00 20 4 September 2018 二零一八年九月四日 0.33 0.3 0.30613 5,600,000 1,714,322.40 21 11 September 2018 二零一八年九月十一日 0.33 0.325 0.32940 4,040,000 1,330,759.84 22 12 September 2018 二零一八年九月十二日 0.33 0.33 0.33000 160,000 52,800.00 23 13 September 2018 二零一八年九月十三日 0.33 0.33 0.33000 3,000,000 990,000.00 24 25 March 2019 二零一九年三月二十五日 0.33 0.325 0.32800 5,000,000 * 1,640,000.00 25 27 March 2019 二零一九年三月二十七日 0.33 0.325 0.32994 1,856,000 * 612,360.00 26 28 March 2019 二零一九年三月二十八日 0.33 0.325 0.32893 7,640,000 * 2,513,000.00 27 29 March 2019 二零一九年三月二十九日 0.33 0.33 0.33000 4,880,000 * 1,610,400.00 Total 总计 281,552,000 84,833,473.37 * Repurchased but not yet cancelled as at 31 March 2019 (which have * 于二零一九年三月三十一日已购回但尚未注 already been cancelled on 10 April 2019). 销(该等股份已于二零一九年四月十日注销)。 Save as disclosed above, neither the Company nor any of its 除上文披露者外,本公司及其任何附属公司于 subsidaries purchased, sold or redeemed any Shares during the 截至二零一九年三月三十一日止年度概无购 year ended 31 March 2019. 买、出售或赎回任何股份。 PRE-EMPTIVE RIGHTS 优先购买权 There are no provisions for pre-emptive rights under the Company’s 本公司之公司细则或百慕达法律并无有关优先 Bye-laws or the laws of Bermuda, which would oblige the Company 购买权之规定,规定本公司须按现有股东之持 to offer new shares on a pro-rata basis to existing shareholders. 股比例向彼等发售新股份。 34 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 EMOLUMENT POLICY 酬金政策 The emolument policy of the employees of the Group is set up by 本集团雇员之酬金政策乃由本公司薪酬委员会 the Remuneration Committee of the Company on the basis of their 基于雇员之表现、资历及能力制订。 merit, qualifications and competence. The Board has the general power of determining the Directors’ 董事会拥有厘定董事薪酬之一般权力,而该权 remuneration, subject to authorization of the shareholders of the 力须每年于股东周年大会上获本公司股东授 Company at the annual general meeting each year. The emoluments 权。执行董事之酬金须由本公司薪酬委员会检 of the executive Directors are subject to review by the Remuneration 讨,而薪酬金额乃经考虑董事之资历、经验、 Committee of the Company, and their remuneration is determined 职务、职责、表现、本集团业绩及可比较市场 with reference to the Directors’ qualifications, experience, duties, 资料后厘定。 responsibilities, performance, results of the Group and comparable market information. The Company has adopted the New Scheme as an incentive to 本公司已采纳新计划以奖励董事及合资格参与 Directors and eligible participants. 者。 CONTINUING CONNECTED TRANSACTIONS 持续关连交易 The directors of the Company are responsible for the completeness 本公司董事就持续关连交易(「持续关连交易」) and accuracy of disclosures of continuing connected transactions 披露事项之完整性及准确性以及本公司就该等 (“CCT”) and the Company’s compliance with the Listing Rules in 交易遵守上市规则负责。 respect of such transactions. The Independent Non-executive Directors of the Company had 本公司之独立非执行董事已审阅第35至41页 reviewed all CCT as shown on pages 35 to 41 and confirmed in 所示之所有持续关连交易,并于本年报及账目 this Annual Report and accounts that the transactions have been 确认,该等交易乃: entered into: (1) in the ordinary and usual course of business of the Group; (1) 于本集团日常及一般业务过程中订立; (2) on normal commercial terms; and (2) 按正常商业条款订立;及 (3) in accordance with the relevant agreements governing them on (3) 按照规管该等交易且条款属公平合理并 terms that are fair and reasonable and in the interests of the 符合本公司股东整体利益之相关协议订 shareholders of the Company as a whole. 立。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 35 BDO Limited, the Company’s auditor, was engaged to report on 本公司核数师香港立信德豪会计师事务所有限 the Group’s continuing connected transactions in accordance with 公司已获委聘,遵照香港会计师公会颁布之香 Hong Kong Standard on Assurance Engagements 3000 (Revised) 港核证聘用准则3000(修订)「历史财务资料审 “Assurance Engagements Other Than Audits or Reviews of 计或审阅以外的核证聘用」并参照实务说明第 Historical Financial Information” and with reference to Practice Note 740号「关于香港上市规则所述持续关连交易 740 “Auditor’s Letter on Continuing Connected Transactions under 的核数师函件」就本集团之持续关连交易作出 the Hong Kong Listing Rules” issued by the Hong Kong Institute of 汇报。香港立信德豪会计师事务所有限公司已 Certified Public Accountants. BDO Limited has issued an unqualified 根据上市规则第14A.56条发出载有持续关连交 letter containing its findings and conclusions in respect of the 易之核证结果及结论之无保留意见函件,并确 continuing connected transactions in accordance with Rule 14A.56 认: of the Listing Rules and confirmed that: (a) nothing has come to its attention that causes it to believe that (a) 彼等并不知悉有任何事宜,导致彼等相 the disclosed continuing connected transactions have not 信本公司之董事会未有批准已披露之持 been approved by the board of the Company; 续关连交易; (b) nothing has come to its attention that causes it to believe that (b) 彼等并不知悉有任何事宜,导致彼等相 the transactions were not entered into, in all material respects, 信该等交易在各主要方面并非按照规管 in accordance with the relevant agreements governing such 该等交易之相关协议进行;及 transactions; and (c) nothing has come to its attention that causes it to believe (c) 彼等并不知悉有任何事宜,导致彼等相 that the disclosed continuing connected transactions have 信已披露之持续关连交易已超出本公司 exceeded the relevant annual caps as set by the Company. 设定之相关年度上限。 A copy of the auditor’s letter has been provided by the Company to 本公司已将核数师函件副本呈交香港联合交易 The Stock Exchange of Hong Kong Limited. 所有限公司。 1. Showroom Rental Agreement 1. 展厅租赁协议 An agreement (the “Showroom Rental Agreement”) entered 本公司间接全资附属公司天津信昌泰富 between Tianjin Xin Chang Tai Fu Trading Development 贸易发展有限公司(「天津信昌」)与綦先 Limited (“TJXC”), an indirect wholly-owned subsidiary of the 生订立日期为二零一零年十二月三十一 Company, and Mr. Qi dated 31 December 2010 in relation 日之协议(「展厅租赁协议」),涉及租赁 to rentals of showroom incurred from the operations of the 位于中华人民共和国(「中国」)天津市和 Group’s luxury cars dealership business, of a portion of 平区张自忠路162号增4号因本集团豪 showroom having a gross floor area of approximately 365 华汽车经销业务的营运产生之展厅(展厅 square meters (“sq.m.”) at Zeng No. 4, No. 162 Zhang Zi 部分之总楼面面积约365平方 米(「平方 Zhong Road, Heping District, Tianjin, People’s Republic of 米」))。 China (the “PRC”). 36 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 A supplemental agreement entered between TJXC and Mr. Qi 天津信昌与綦先生订立日期为二零一一 dated 30 June 2011 for extension of the duration of Showroom 年六月三十日之补充协议,以将展厅租 Rental Agreement from its original terms of three years from 赁协议之期限由原先自二零一一年一月 1 January 2011 inclusive to ten years from 1 January 2011 一日起为期三年(包括首尾两天)延长至 inclusive. 自二零一一年一月一日起为期十年(包括 首尾两天)。 2. Tianjin Leasing Agreement I 2. 天津租赁协议I An agreement (the “Tianjin Leasing Agreement I”) entered 本公司间接全资附属公司天津恒盈泰富 between Tianjin Heng Ying Tai Fu Trading Development 贸易发展有限公司与綦先生订立日期为 Limited, an indirect wholly-owned subsidiary of the Company, 二零一一年六月三十日之协议(「天津租 and Mr. Qi dated 30 June 2011 in relation to rentals of 赁协议I」),涉及租赁位于中国天津市和 showroom incurred from the operations of the Group’s luxury 平区张自忠路162号增2号及增3号因本 cars dealership business, of a portion of showroom having a 集团豪华汽车经销业务的营运产生之展 gross floor area of approximately 366.13 sq.m. at Zeng No. 厅(展厅部分之总楼面面积约 366.13 平方 2 and Zeng No. 3, No. 162 Zhang Zi Zhong Road, Heping 米)。 District, Tianjin, the PRC. 3. Beijing Leasing Agreement I 3. 北京租赁协议I An agreement (the “Beijing Leasing Agreement I”) 本公司间接全资附属公司北京耀莱新天 entered between Beijing Sparkle Roll Xin Tian Di Commerce 地商业发展有限公司(「耀莱新天地」)与 Development Limited (“SRXTD”), an indirect wholly-owned 綦先生订立日期为二零一一年六月三十 subsidiary of the Company, and Mr. Qi dated 30 June 2011 in 日之协议(「北京租赁协议I」),涉及租用 relation to rentals of bonded warehouse incurred for exhibition 位于中国北京市朝阳区三里屯幸福二村 purpose, of a portion of bonded warehouse having a gross 40号楼首开幸福广场A座及B座地下1层 floor area of approximately 2,150 sq.m. at Basement Level 1 of 因展览用途产生之保税仓库(保税仓库部 Tower A and B, International Wonderland, 40 Xing Fu Er Chun, 分之总楼面面积约2,150平方米)。 San Li Tun, Chaoyang District, Beijing, the PRC. An amended agreement (the “Amended Beijing Leasing 綦先生、耀莱新天地与本公司间接全资 Agreement I”) entered among Mr. Qi, SRXTD and Sparkle 附属公司耀莱零售网络发展有限公司 Roll Retail Net Development Limited (“SRRND”), an indirect (「耀莱零售网络」)订立日期为二零一三 wholly-owned subsidiary of the Company, dated 26 June 2013 年六月二十六日之经修订协议(「经修订 in relation of surrender of portions of Basement Level 1 of 北京租赁协议I」),涉及交回B座地下1层 Tower B (with area of 1,400 sq.m.) and retention of portions 部分(面积为1,400平方米)及保留A座地 of Basement Level 1 of Tower A (with area of 750 sq.m.) to 下1层部分(面积为750平方米)根据北京 continue under the same terms as stated in the Beijing Leasing 租赁协议I所载相同条款继续租赁,惟计 Agreement I save for rental reduction on account of the partial 及已交回部分而扣减租金除外,自二零 surrender with effect from 1 July 2013. 一三年七月一日起生效。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 37 4. Beijing Leasing Agreement II 4. 北京租赁协议II An agreement (the “Beijing Leasing Agreement II”) 本公司间接全资附属公司北京美合振永 entered between Beijing Mei He Zhen Yong Motors Trading 汽车贸易有限公司(「北京美合」)与綦先 Limited (“BJMH”), an indirect wholly-owned subsidiary of the 生订立日期为二零一一年六月三十日之 Company, and Mr. Qi dated 30 June 2011 in relation to rentals 协议(「北京租赁协议II」),涉及租赁位于 of showroom incurred from the operations of the Group’s 中国北京市朝阳区三里屯幸福二村40号 luxury cars dealership business, of a portion of showroom 楼首开幸福广场A座第1层部分因本集团 having a gross floor area of approximately 1,135 sq.m. at 豪华汽车经销业务的营运产生之展厅(展 portions of Level 1 of Tower A, International Wonderland, 40 厅部分之总楼面面积约1,135平方米)。 Xing Fu Er Chun, San Li Tun, Chaoyang District, Beijing, the PRC. An agreement was entered into between Mr. Qi, BJMH and 綦先生、北京美合与耀莱零售网络订立 SRRND, dated 6 July 2011 pursuant to which the tenant of the 日期为二零一一年七月六日之协议,据 Beijing Leasing Agreement II was transferred from BJMH to 此,北京租赁协议II之租户由北京美合改 SRRND, with the same agreement terms. 为耀莱零售网络,协议条款相同。 5. Beijing Leasing Agreement III 5. 北京租赁协议III An agreement (the “Beijing Leasing Agreement III”) entered 本公司间接全资附属公司耀莱东方( 北 between Sparkle Roll Oriental (Beijing) Trading Development 京)贸易发展有限公司(「耀莱东方北京」) Limited (“SROBJ”), an indirect wholly-owned subsidiary of 与綦先生订立日期为二零一一年六月 the Company, and Mr. Qi dated 30 June 2011 in relation 三十日之协议(「北京租赁协议III」),涉 to rentals of showroom incurred from the operations of the 及租赁位于中国北京市朝阳区三里屯幸 Group’s business in the distribution of wine, watches and 福二村40号楼首开幸福广场A座第1层及 jewellery, of a portion of showroom having a gross floor area 第2层部分因本集团分销名酒、腕表及珠 of approximately 2,148 sq.m. at portions of Levels 1 and 2 of 宝业务的营运产生之展厅(展厅部分之总 Tower A, International Wonderland, 40 Xing Fu Er Chun, San Li 楼面面积约2,148平方米)。 Tun, Chaoyang District, Beijing, the PRC. An agreement was entered into between Mr. Qi, SROBJ and 綦先生、耀莱东方北京与耀莱零售网络 SRRND, dated 6 July 2011 pursuant to which the tenant of the 订立日期为二零一一年七月六日之协 Beijing Leasing Agreement III was transferred from SROBJ to 议,据此,北京租赁协议III之租户由耀莱 SRRND, with the same agreement terms. 东方北京改为耀莱零售网络,协议条款 相同。 38 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 6. Beijing Leasing Agreement IV 6. 北京租赁协议IV An agreement (the “Beijing Leasing Agreement IV”) entered 本公司间接全资附属公司北京德特汽车 between Beijing De Te Motors Trading Limited (“BJDT”), an 贸易有限公司(「北京德特」)与綦先生订 indirect wholly-owned subsidiary of the Company, and Mr. Qi 立日期为二零一一年六月三十日之协议 dated 30 June 2011 in relation to office rentals incurred from (「北京租赁协议IV」),涉及租用位于中 the operations of the Group’s business in the distribution of 国北京市朝阳区三里屯幸福二村40号楼 luxury goods, of a portion of office having a gross floor area of 首开幸福广场A座第3层及B座第7层部 approximately 1,280 sq.m. at of Level 3 of Tower A and portion 分因本集团分销奢侈品业务的营运产生 of Level 7 of Tower B, International Wonderland, 40 Xing Fu Er 之办公室租赁(办公室部分之总楼面面积 Chun, San Li Tun, Chaoyang District, Beijing, the PRC. 约1,280平方米)。 An agreement was entered into between Mr. Qi, BJDT and 綦先生、北京德特与耀莱零售网络订立 SRRND, dated 6 July 2011 pursuant to which the tenant of the 日期为二零一一年七月六日之协议,据 Beijing Leasing Agreement IV was transferred from BJDT to 此,北京租赁协议IV之租户由北京德特 SRRND, with the same agreement terms. 改为耀莱零售网络,协议条款相同。 7. On 6 March 2018, the Group entered into an acquisition 7. 于二零一八年三月六日,本集团与綦先 agreement (the “Acquisition Agreement”) with Mr. Qi and 生及由綦先生全资拥有的一间实体(北京 Beijing Wenfu Hengye Technology Development Co., Limited 文福恒业科技发展有限公司(「文福」)订 (“Wenfu”), an entity wholly-owned Mr. Qi, the Group had 立收购协议(「收购协议」),本集团有条 conditionally agreed to purchase the entire equity interest in 件同意根据收购协议购买北京文福恒业 Beijing Wenfu Hengye pursuant the Acquisition Agreement, 之全部股权,而是项收购已于二零一八 and this acquisition was completed on 31 August 2018 (the 年八月三十一日完成(「完成日期」)。根 “Completion Date”). Under the Acquisition Agreement, all 据收购协议,本集团根据北京租赁协议I rentals payable by the Group to Mr. Qi under Beijing Leasing 至IV就于二零一八年四月一日至完成日 Agreements I to IV in relation to Tower A, International 期期间租赁中国北京市朝阳区三里屯幸 Wonderland No. 40 Xing Fu Eu Chun, San Li Tun, Chaoyang 福二村40号楼首开幸福广场A座而所有 District, Beijing, the PRC between 1 April 2018 and the 应付綦先生之租金应予豁免,所有该等 Completion Date should be waived, all such continuing 持续关连交易将告停止。 connected transactions are ceased. 8. Beijing Leasing Agreement V 8. 北京租赁协议V An agreement (the “Beijing Leasing Agreement V”) entered 耀莱零售网络与綦先生订立日期为二零 between SRRND and Mr. Qi dated 26 June 2013 in relation 一三年六月二十六日之协议(「北京租赁 to rentals of showroom incurred from the operations of the 协议 V」),涉及租赁位于中国北京市朝阳 Group’s luxury automobile business, of a portion of showroom 区三里屯幸福二村40号楼首开幸福广场 having a gross floor area of approximately 1,429.2 sq.m. B座第1层及第2层因本集团豪华汽车业 at of portions of Levels 1 and 2 of Tower B, International 务的营运产生之展厅(展厅部分之总楼面 Wonderland, 40 Xing Fu Er Chun, San Li Tun, Chaoyang 面积约1,429.2平方米)。 District, Beijing, the PRC. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 39 Report of the Directors 9. Beijing Leasing Agreement VI 9. 北京租赁协议VI An agreement (the “Beijing Leasing Agreement VI”) entered 耀莱零售网络与綦先生订立日期为二零 between SRRND and Mr. Qi dated 26 June 2013 in relation 一三年六月二十六日之协议(「北京租赁 to office rentals incurred from the operations of the Group’s 协议VI 」),涉及租用位于中国北京市朝 business in the distribution of luxury goods, of a portion of 阳区三里屯幸福二村40号楼首开幸福广 office having a gross floor area of approximately 840 sq.m. at 场B座第3层因本集团分销奢侈品业务的 portions of Level 3 of Tower B, International Wonderland, 40 营运产生之办公室租赁(办公室部分之总 Xing Fu Er Chun, San Li Tun, Chaoyang District, Beijing, the 楼面面积约840平方米)。 PRC. LIST OF DISCLOSED CONTINUING 本集团与关连人士订立之须予披露 CONNECTED TRANSACTIONS ENTERED INTO 持续关连交易之列表 BY THE GROUP WITH CONNECTED PERSONS Annual fee for the year ended 31 March 2019 截至二零一九年三月三十一日 止年度之年度费用 Equivalent to RMB’000 HK$’000 人民币千元 相等于千港元 1. Rentals of showroom in 1. 有关天津租赁协议I之展厅 3,000 3,552 relation to the Tianjin Leasing 租赁 Agreement I 2. Rentals of showroom in 2. 有关展厅租赁协议之展厅租 2,640 3,126 relation to the Showroom 赁 Rental Agreement 3. Rentals of showroom and 3. 有关北京租赁协议I及经修 1,000 1,201 office in relation to the Beijing 订北京租赁协议I之展厅及 Leasing Agreement I and 办公室租赁(附注(i)) Amended Beijing Leasing Agreement I (Note (i)) 4. Rentals of showroom in 4. 有关北京租赁协议II之展厅 4,600 5,524 relation to the Beijing Leasing 租赁(附注(i)) Agreement II (Note (i)) 5. Rentals of showroom in 5. 有关北京租赁协议III之展厅 5,650 6,785 relation to the Beijing Leasing 租赁(附注(i)) Agreement III (Note (i)) 40 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Report of the Directors Annual fee for the year ended 31 March 2019 截至二零一九年三月三十一日 止年度之年度费用 Equivalent to RMB’000 HK$’000 人民币千元 相等于千港元 6. Office rentals in relation to the 6. 有关北京租赁协议IV之办公 1,450 1,741 Beijing Leasing Agreement IV 室租赁(附注(i)) (Note (i)) Office rentals in relation to the 有关北京租赁协议IV之办公 1,080 1,279 Beijing Leasing Agreement IV 室租赁 7. Rentals of showroom in 7. 有关北京租赁协议V之展厅 13,200 15,631 relation to the Beijing Leasing 租赁 Agreement V 8. Office rentals in relation to the 8. 有关北京租赁协议VI之办公 3,360 3,979 Beijing Leasing Agreement VI 室租赁 Note (i): These rental expenses are waived and have not been recorded by 附注(i) 该等租赁费用予以豁免,且本集团并无于 the Group between 1 April 2018 and 31 August 2018. 二零一八年四月一日至二零一八年八月 三十一日予以记录。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 41 Report of the Directors MAJOR AND CONNECTED TRANSACTION 主要及关连交易 Completion of acquisition of a property holding company 完成收购一间房产控股公司 Reference is made to the Company’s announcements dated 6 兹提述本公司日期为二零一八年三月六日、二 March 2018, 3 September 2018 and the circular dated 24 April 零一八年九月三日之公布及日期为二零一八 2018. On 31 August 2018, the acquisition of Wenfu was completed. 年四月二十四日之通 函。 于二零一八年八月 三十一日,收购文福已告完成。 RELATED PARTY TRANSACTIONS 关联方之交易 During this financial year, the Group entered into certain 根据适用会计准则,本集团与被视为关联方之 transactions with parties regarded as related parties under the 各方于本财政年内订立若干交易。本集团于截 applicable accounting standards. A summary of the related party 至二零一九年三月三十一日止年度订立之关联 transactions entered into by the Group during the year ended 31 方交易概要载于本年报财务报表附注39,包括 March 2019 is contained in Note 39 to the financial statements of 上市规则第14A章界定之关连交易或持续关连 this Annual Report including connected transactions or continuing 交易。 connected transactions as defined in Chapter 14A of the Listing Rules. The Company has complied with the disclosure requirements, to the 本公司已根据上市规则第14A章就本集团于截 extent they are not exempted or waived by the Stock Exchange, in 至二零一九年三月三十一日止年度内订立之关 accordance with Chapter 14A of the Listing Rules with respect to 连交易及持续关连交易遵守披露规定(以未被 the connected transactions and continuing connected transactions 联交所免除或豁免者为限)。 entered into by the Group during the year ended 31 March 2019. SUFFICIENCY OF PUBLIC FLOAT 足够公众持股量 The Company has maintained a sufficient public float throughout the 本公司于截至二零一九年三月三十一日止年度 year ended 31 March 2019. 内一直维持足够之公众持股量。 42 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Report of the Directors AUDITOR 核数师 Crowe (HK) CPA Limited (“Crowe”) resigned as auditor of the 国富浩华(香港)会计师事务所有限公司(「 国 Company with effect from 1 March 2019. BDO Limited (“BDO”) was 富浩华」)已辞任为本公司核数师,自二零一九 appointed as auditor of the Company with effect from 1 March 2019 年三月一日起生效。香港立信德豪会计师事务 to fill the casual vacancy occasioned by the resignation of Crowe. 所有限公 司(「香港立信德豪会计师事务所」) BDO shall hold office until the conclusion of the forthcoming annual 已获委任为本公司核数师,自二零一九年三月 general meeting of the Company. The financial statements for the 一日生效,以填补国富浩华辞任的临时空缺。 year ended 31 March 2019 was audited by BDO. A resolution will 香港立信德豪会计师事务的任期直至本公司应 be proposed at the forthcoming annual general meeting of the 届股东周年大会结束止。截至二零一九年三月 Company to re-appoint BDO as auditor of the Company. 三十一日止年度的财务报表已由香港立信德豪 会计师事务审核。本公司将于迎接股东周年大 会上提呈一项决议案,续聘香港立信德豪会计 师事务为本公司的核数师。 ENVIRONMENTAL POLICIES AND 环境政策及发展 DEVELOPMENT The Group recognises the importance of environmental protection 本集团明白环境保护之重要性,并已采纳相关 and has adopted relevant measures for environmental protection 环保措施以确保本集团遵守当前环保法律及法 in order to ensure the compliance by the Group of the prevailing 规。有关本集团环境政策及表现之详情载于本 environmental protection laws and regulations. Details of the 年报第78至104页之「环境、社会及管治报告」 environmental policies and performance of the Group are set out in 一节。 the section headed “Environmental, Social and Governance Report” on pages 78 to 104 in this Annual Report. COMPLIANCE WITH LAWS AND 遵守法律及法规 REGULATIONS The shares of the Company are listed on the Main Board of the 本公司股份于联交所主板上市,而本集团之业 Stock Exchange and the operations of the Group are mainly carried 务主要由其于香港、中国及马来西亚之附属公 out by its subsidiaries in Hong Kong, the PRC and Malaysia. The 司经营。本集团之业务须遵守香港、中国及马 operations of the Group should comply with relevant laws and 来西亚之相关法律及法规。于截至二零一九年 regulations in Hong Kong, China and Malaysia. During the year 三月三十一日止年度及截至本年报日,本集团 ended 31 March 2019 and up to the date of this Annual Report, 已遵守香港、中国及马来西亚之所有相关法律 the Group has complied with all the relevant laws and regulations in 及法规。 Hong Kong, China and Malaysia. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 43 CORPORATE GOVERANCE 企业管治 The Board is of the opinion that the Company had adopted, applied 董事会认为,本公司于截至二零一九年三月 and complied with the code provisions as set out in the Corporate 三十一日止年度期间已采纳、应用及遵守上市 Governance Code (the “Code”) contained in Appendix 14 to the 规则附录十四企业管治守则(「守则」)所载守则 Listing Rules throughout the year ended 31 March 2019 except 条文,惟自二零一八年一月一日起偏离守则第 for the deviation from provision A.2.1 of the Code since 1 January A.2.1条除外。 2018. Details of the corporate governance of the Group are set out in the 本集团之企业管治详情载于本年报第46至67 section headed “Corporate Governance Report” on pages 46 to 67 页「企业管治报告」一节内。 in this Annual Report. ANNUAL GENERAL MEETING 股东周年大会 The forthcoming annual general meeting of the Company will be 本公司应届股东周年大会谨订于二零一九年八 held at 4:30 p.m. on 30 August 2019 at Regus, Conference Centre, 月三十日下午四时三十分假座香港湾仔港湾道 35/F, Central Plaza, 18 Harbour Road, Wanchai, Hong Kong and a 18号中环广场35楼雷格斯商务中心举行,本 notice of annual general meeting of the Company will be published 公司将于适当时候刊载及寄发股东周年大会通 and despatched in due course. 告。 CHANGE OF ADDRESS OF HONG KONG 更改香港股份过户登记分处地址 BRANCH SHARE REGISTRAR AND TRANSFER OFFICE As disclosed in the announcement of the Company dated 20 June 诚如本公司日期为二零一九年六月二十日之公 2019, with effect from 11 July 2019, the Hong Kong Branch Share 布所披露,自二零一九年七月十一日起,本公 Registrar and Transfer Office of the Company, Tricor Secretaries 司的香港股份过户登记分处卓佳秘书商务有限 Limited (the “Branch Share Registrar”), will change its address 公司(「股份过户登记分处」)的地址将由香港皇 from Level 22, Hopewell Centre, 183 Queen’s Road East, Hong 后大道东183号合和中心22楼更改为: Kong to: Level 54, Hopewell Centre 香港 183 Queen’s Road East 皇后大道东183号 Hong Kong 合和中心54楼 All telephone and facsimile numbers of the Branch Share Registrar 股份过户登记分处所有电话及传真号码将维持 will remain unchanged. 不变。 44 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 CLOSURE OF REGISTER OF MEMBERS 暂停办理股东登记 The register of members of the Company will be closed from 27 本公司将于二零一九年八月二十七日(星期二) August 2019 (Tuesday) to 30 August 2019 (Friday) (both days 至二零一九年八月三十日(星期五)(包括首尾 inclusive) during which period, no transfer of the shares of the 两日)暂停办理股东登记,期间不会登记股份 Company will be registered. In order to qualify for attending and 过户。为符合资格出席本公司应届股东周年大 voting at the forthcoming annual general meeting of the Company, 会并于会上投票,所有股份过户文件连同有关 all share transfer documents, accompanied by the relevant share 股票,须不迟于二零一九年八月二十六日(星 certificates, must be lodged with the Company’s branch share 期一)下午四时三十分送达本公司香港股份过 registrar and transfer office in Hong Kong, Tricor Secretaries 户登记分处卓佳秘书商务有限公司,地址为香 Limited, at Level 54, Hopewell Centre, 183 Queen’s Road East, 港皇后大道东183号合和中心54楼。 Hong Kong not later than 4:30 p.m. on 26 August 2019 (Monday). On behalf of the Board 代表董事会 Zheng Hao Jiang 主席 Chairman 郑浩江 Hong Kong, 28 June 2019 香港,二零一九年六月二十八日 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 45 CORPORATE GOVERNANCE PRACTICES 企业管治常规 Sparkle Roll Group Limited (the “Company”) and its subsidiaries 耀莱集团有限公 司(「 本公 司 」)及 其附属公司 (together the “Group”) is committed to maintaining a high standard (统称「本集团」)致力维持高水平之企业管治。 of corporate governance. The board of Directors of the Company 本公司董事会(「 董事会 」)一 致认为,企业管 (the “Board”) agrees that corporate governance practices are 治常规对于维持并提高投资者之信心越来越重 increasingly important for maintaining and promoting investor 要。企业管治之要求不断转变,因此,董事会 confidence. Corporate governance requirements keep changing, 不时检讨其企业管治常规,以确保所有常规均 therefore the Board reviews its corporate governance practices 达到法例及法定规定。于截至二零一九年三月 from time to time to ensure that all practices can be met with legal 三十一日止整个财政年度内,本集团已采纳上 and statutory requirements. Throughout the financial year ended 市规则附录十四所载之企业管治守则及企业管 31 March 2019, the Group has adopted the principles and code 治报告(「守则」)之原则及守则条文。本公司于 provisions in the Corporate Governance Code and Corporate 截至二零一九年三月三十一日止整个财政年度 Governance Report (the “Code”) contained in Appendix 14 to the 内均一直遵守守则之规定,惟自二零一八年一 Listing Rules. The Company has been in compliance with the Code 月一日起偏离守则第A.2.1条除外。 throughout the financial year ended 31 March 2019 except for the deviation from provision A.2.1 of the Code since 1 January 2018. According to provision A.2.1 of the Code, the roles of chairman 根据守则第A.2.1条,主席及行政总裁之角色 and chief executive officer should be separate and should not 应区分开且不应由同一人士担任。郑浩江先生 be performed by the same individual. Mr. Zheng Hao Jiang is 自二零一八年一月一日起为本公司主席兼行政 the Chairman and the Chief Executive Officer of the Company 总裁,负责本集团的整体策略发展、项目管理 with effect from 1 January 2018, responsible for overall strategic 及客户管理。董事会认为,由同一人士同时担 development, project management and client management of the 任主席及行政总裁之职务将有益于确保本集团 Group. The Board believes that vesting the roles of both chairman 内部的贯彻一致领导及将使本公司可及时及有 and chief executive officer in the same person has the benefit 效作出及实施决定;并认为有关安排将不会妨 of ensuring consistent leading within the Group and will enable 碍董事会及管理层之间权力及权威的平衡且本 the Company to make and implement decisions promptly and 公司有充足的内部控制以提供主席及行政总裁 effectively; and considers that such arrangement will not impair 职能的核查及平衡。尽管如此,董事会仍将鉴 the balance of power and authority between the Board and the 于现行状况不时审阅有关安排。 management and that the Company has sufficient internal controls to provide checks and balances on the functions of the chairman and the chief executive officer. Nevertheless, the Board will review such arrangement from time to time in light of the prevailing circumstances. In addition, the Audit Committee of the Company, comprised 此外,仅由独立非执行董事组成的本公司审核 exclusively Independent Non-executive Directors, is freely and 委员会可于其认为必要时自由与本公司外部核 directly to communicate with the Company’s external auditors and 数师及独立专业顾问直接联络。 independent professional advisers when it considers necessary. 46 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 MODEL CODE OF CONDUCT FOR SECURITIES 证券交易之标准行为守则 TRANSACTIONS The Company has adopted the Model Code for Securities 本公司已采纳上巿规则附录十所载之上市发 Transaction by Directors of Listed Issuers (the “Model Code”) 行人董事进行证券交易的标准守 则(「 标准守 contained in Appendix 10 to the Listing Rules to govern securities 则」),以规管董事进行证券交易。经向全体董 transactions by the Directors. After having made specific enquiry of 事作出具体查询后,全体董事均确认彼等已于 all Directors, all Directors confirmed that they have complied with 年内及截至本年报日遵守标准守则。 the Model Code during the year and up to the date of this Annual Report. The Company also adopted the Model Code as guidelines 本公司亦已采纳标准守则作为可能拥有本公司 for its relevant employees who are likely to be in possession 非公开内幕资料之相关雇员买卖本公司证券之 of unpublished inside information of the Company in respect 指引。据本公司所知,概无相关雇员不遵守标 of their dealings in securities of the Company. No incident of 准守则之情况。 noncompliance of the Model Code by the relevant employees was noted by the Company. BOARD OF DIRECTORS 董事会 The Board currently comprises three Executive, two Non-executive 董事会现时由三名执行董事、两名非执行董事 and three Independent Non-executive Directors. 及三名独立非执行董事组成。 Executive Directors 执行董事 Mr. Zheng Hao Jiang (Chairman and Chief Executive Officer) 郑浩江先生(主席兼行政总裁) Mr. Zhao Xiaodong (Deputy Chairman and Chief Operating Officer) 赵小东先生(副主席兼运营总裁) Mr. Zhu Lei 朱雷先生 Non-executive Directors 非执行董事 Mr. Gao Yu 高煜先生 Mr. Qi Jian Wei 綦建伟先生 Independent Non-executive Directors 独立非执行董事 Mr. Choy Sze Chung, Jojo 蔡思聪先生 Mr. Lam Kwok Cheong 林国昌先生 Mr. Lee Thomas Kang Bor 李镜波先生 The biographical details are set out in the section headed 履历详情载于本年报「董事及高级管理人员之 “Biographies of Directors and Senior Management” of this Annual 履历」一节。 Report. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 47 The Company has three Independent Non-executive Directors, 本公司有三名独立非执行董事,占董事会人数 representing one-third of the Board. At least one of the Independent 三分之一。根据上市规则第3.10条,独立非执 Non-executive Directors has appropriate professional qualifications 行董事当中最少有一人须具备合适专业资格或 or accounting or related financial management expertise under 会计或相关财务管理专业知识。全体独立非执 Rule 3.10 of the Listing Rules. All the Independent Non-executive 行董事均已根据上市规则第3.13条签署年度独 Directors have signed the annual confirmation of independence 立身份确认书,以确认彼等之独立身份。 pursuant to Rule 3.13 of the Listing Rules to confirm their independence. Under the Company’s Bye-laws, every Director is subject to 根据本公司之公司细则,每名董事须最少每三 retirement by rotation at least once every three years. 年轮值告退一次。 The Board’s primary responsibilities are to determine the overall 董事会之主要责任为厘定整体策略、监察及控 strategies, monitor and control operating and financial performance 制业务及财务表现,以及制订合适之风险管理 and set appropriate policies to manage risks in pursuit of the 政策,以达致本集团之策略目标。该等可影响 Groups’ strategic objectives. Matters reserved for the Board are 本集团整体策略政策及股息政策,以及有关重 those affecting the Group’s overall strategic policies, dividend 大会计政策变动、重大合约及重大投资之事 policy, significant changes in accounting policies, material contracts 宜,均会留待董事会处 理。本集团之日常业 and major investments. Day-to-day management of the Group’s 务管理则会交由执行董事或各部门主管负责。 business is delegated to the Executive Director or officer in charge 所指派之职权均会定期检阅,以确保其仍然合 of each department. The functions and power that are so delegated 适。董事亦获提供本集团表现、状况之每月更 are reviewed periodically to ensure that they remain appropriate. 新资料以及最新发展之资料,以便董事履行其 Directors are provided with monthly updates on the Group’s 职务。所有董事均可寻求外部法律意见及其他 performance, status and updates on the latest developments in 专业人士之独立意见,本集团将会应彼等之要 order to enable the Directors to discharge their duties. All Directors 求支付有关开支。 have recourse to external legal counsel and other professionals for independent advice at the Group’s expense upon their request. During the year under review, Mr. Lee Thomas Kang Bor, Mr. Zheng 于回顾年内,李镜波先生、郑浩江先生及朱雷 Hao Jiang and Mr. Zhu Lei retired and were re-elected as the 先生任满告退,并于二零一八年八月三十一日 Directors at the annual general meeting held on 31 August 2018. 举行之股东周年大会上膺选连任董事。 48 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 NON-EXECUTIVE AND INDEPENDENT NON- 非执行及独立非执行董事 EXECUTIVE DIRECTORS There are currently five Non-executive Directors of whom three 本公司现时有五名非执行董事,其中三名为独 are independent. Each of the Non-executive Directors and the 立非执行董事。每名非执行董事及独立非执行 Independent Non-executive Directors has entered into a letter of 董事已订立一份为期两年并可续期一年之委任 appointment for a term of two years and then renewable for one 函。根据本公司之公司细则,每名董事(包括 year. Under the Bye-laws of the Company, every Director, including 非执行董事及独立非执行董事)须最少每三年 the Non-executive and the Independent Non-executive Directors, 轮值告退一次。 shall be subject to retirement by rotation at least every three years. The Company has received, from each of the Independent 本公司已收到各独立非执行董事遵照上市规则 Nonexecutive Directors, an annual confirmation of his independence 第3.13条就其独立性所呈交之年度确认书。本 pursuant to Rule 3.13 of the List ing Rules. The Company 公司认为全体独立非执行董事均属独立人士。 considers that all of the Independent Non-executive Directors are independent. Pursuant to the code provision A.4.3 of the Code, serving more than 根据守则之守则条文第A.4.3条,在厘定非执 9 years could be relevant to the determination of a Non-executive 行董事之独立性时,「担任董事超过9年」足以 Directors’ independence. If an Independent Non-executive Director 作为一个考虑界线。若独立非执行董事在任已 serves more than 9 years, his further appointment should be subject 过9年,其获续任与否应以独立决议案形式由 to a separate resolution to be approved by shareholders. The 股东审议通过。随附该决议案一同发给股东之 circular to shareholders accompanying that resolution will include 通函中,应载有董事会为何认为该名人士仍属 the reasons why the Board believes he is still independent and 独立人士及应获重选之原因。 should be re-elected. During the year under review, Mr. Lee Thomas Kang Bor was 于回顾年度内,李镜波先生于二零一八年八月 re-elected in a separate resolution at the annual general meeting 三十一日举行的股东周年大会上透过独立决议 held on 31 August 2018. 案获重选。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 49 MEETINGS AND ATTENDANCE 会议及出席情况 The Board meets regularly to review the financial and operating 董事会定期举行会议检讨本集团之财务及经营 performance of the Group and approve business plan. 8 Board 表现,以及批准业务计划。于二零一八年╱二 meetings were held in 2018/2019. Individual attendance of each 零一九年共举行8次董事会会议。于二零一八 Director at the Board meetings, the Audit Committee meetings, 年╱二零一九年,每名董事出席董事会会议、 Remuneration Committee meetings and the Nomination Committee 审核委员会会议、薪酬委员会会议及提名委员 meeting during 2018/2019 and the annual general meeting of the 会会议及本公司于二零一八年八月三十一日举 Company held on 31 August 2018 (“2018 AGM”) is set out below: 行之股东周年大会(「二零一八年度股东周年大 会」)之情况载列如下︰ Attendance/Number of Meetings 出席次数╱会议次数 Audit Remuneration Nomination Board Committee Committee Committee 2018 AGM 二零一八年 Director 董事 董事会 审核委员会 薪酬委员会 提名委员会 股东周年大会 Executive Directors 执行董事 Mr. Zheng Hao Jiang 郑浩江先生 8/8 N/A 2/2 N/A 1/1 不适用 不适用 Mr. Zhao Xiaodong (appointed with 赵小东先生(于二零一八年 2/2 N/A N/A N/A 0/0 effect from 3 September 2018) 九月三日获委任) 不适用 不适用 不适用 Mr. Zhu Lei 朱雷先生 8/8 N/A 2/2 N/A 1/1 不适用 不适用 Mr. Cheung Man Kit (retired with 张文杰先生(于二零一八年 5/5 N/A N/A N/A 0/0 effect from 31 August 2018) 八月三十一日退任) 不适用 不适用 不适用 Non-executive Directors 非执行董事 Mr. Gao Yu 高煜先生 8/8 N/A N/A N/A 1/1 不适用 不适用 不适用 Mr. Qi Jian Wei 綦建伟先生 8/8 N/A N/A N/A 0/1 不适用 不适用 不适用 Mr. Tang Sung Wai (retired with 邓崇伟先生(于二零一八年 5/5 N/A N/A N/A 0/0 effect from 31 August 2018) 八月三十一日退任) 不适用 不适用 不适用 50 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Attendance/Number of Meetings 出席次数╱会议次数 Audit Remuneration Nomination Board Committee Committee Committee 2018 AGM 二零一八年 Director 董事 董事会 审核委员会 薪酬委员会 提名委员会 股东周年大会 Independent Non-executive Directors 独立非执行董事 Mr. Choy Sze chung, Jojo 蔡思聪先生 8/8 4/4 2/2 2/2 1/1 (Chairman of the Audit Committee) (审核委员会主席) Mr. Lam Kwok Cheong (Chairman 林国昌先生 8/8 4/4 2/2 2/2 1/1 of the Remuneration Committee) (薪酬委员会主席) Mr. Lee Thomas Kang Bor (Chairman 李镜波先生 8/8 4/4 2/2 2/2 1/1 of the Nomination Committee) (提名委员会主席) Board and committee minutes are recorded in appropriate detail. 董事会及委员会会议内容均予妥善详尽记录。 Draft minutes are circulated to Directors for comments within 会议记录草稿于每次会议后之合理时间内呈交 reasonable time after each meeting and the final version is open for 各董事批阅,而最终定稿可供董事查阅。 Directors’ inspection. INDUCTION, DEVELOPMENT AND TRAINING 董事履新、发展及培训 OF DIRECTORS Every Board member has received a guidance book on Directors 每名董事会成员于加盟本集团时均会收到一份 duties and liabilities upon joining the Group, which also lays down 董事职务及责任指引手册,同时载有董事会及 the guidelines on conduct for the Board and Board committee 董事委员会成员之操守指引以及其他主要管治 members and other key governance issues, including but not limited 事项,包括但不限于董事会程序及董事须于服 to Board procedures and all applicable laws, rules and regulations 务董事会之任期内遵守之一切适用法律、规则 that they are required to observe during their service in the Board. 及规 例。 经更新之指引将于适当时候不时提 The updated guidelines will be provided from time to time as and 供。 when appropriate. A formal and tailored induction programme will be arranged for each 每名新任董事将获安排特设之正式履新程序, new Director, which includes a briefing on the Group’s structure, 包括获高级管理人员简介本集团架构、业务及 businesses and governance practices by the senior management. 管治常规。为求精益求精,本集团鼓励董事出 To seek continuous improvement, the Directors are encouraged to 席不时举办之相关培训课程,尤其是有关企业 attend relevant training sessions, particularly on corporate ethics 道德及诚信事宜、风险管理及相关新法律及规 and integrity matters, risk management, and relevant new laws and 例之内容。 regulations, from time to time. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 51 To ensure that the Directors’ contribution to the Board remains 为确保董事继续向董事会作出知情及相关贡 informed and relevant and in compliance with code provision A.6.5 献,并遵守守则之守则条文第A.6.5条,本公 of the Code, the Company shall arrange and fund suitable training 司将安排及拨款予董事进行合适培训,以发展 for the Directors to develop and refresh their knowledge and skills. 及更新其知识及技能。于回顾年内,董事已参 During the year under review, the Directors participated in the kinds 与之培训类型如下: of training as follows: Director Kind of Training 董事 培训类型 Executive Directors 执行董事 Mr. Zheng Hao Jiang 郑浩江先生 A,B Mr. Zhao Xiaodong 赵小东先生 A,B Mr. Zhu Lei 朱雷先生 A,B Non-executive Directors 非执行董事 Mr. Gao Yu 高煜先生 A,B Mr. Qi Jian Wei 綦建伟先生 A,B Independent Non-executive Directors 独立非执行董事 Mr. Choy Sze chung, Jojo 蔡思聪先生 A,B Mr. Lam Kwok Cheong 林国昌先生 A,B Mr. Lee Thomas Kang Bor 李镜波先生 A,B A: Reading materials on legal and regulatory updates. A: 有关法律及监管最新资料之读物。 B: Attending training seminar organised by The Hong Kong Institute of B: 出席由香港董事学会举办之培训讲座,主题(i) Directors relating to (i) analysis and categories of SFC approaches 为证监会执法案件分析及类别;(ii)上市规则及 to Enforcement Cases; (ii) updating of Listing Rules and Corporate 企业管治守则的最新资料及(iii)最近联交所咨 Governance Code and (iii) implications of recent HKEX Consultation 询文件对董事的影响。 Papers to Directors. 52 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 BOARD DIVERSITY POLICY 董事会多元化政策 Based on the business needs of the Group, the Nomination 根据本集团之业务需要,提名委员会已推荐 Committee has recommended and the Board has adopted the 而董事会已采纳以下重要目标: following measurable objectives: (i) a prescribed proportion of Board members shall be Non- (i) 非执行董事或独立非执行董事之董事会 executive Directors or Independent Non-executive Directors; 成员规定人数比例; (ii) a prescribed proportion of Board members shall have attained (ii) 持有学士学位或以上学历之董事会成员 bachelor’s degree or above; 规定人数比例; (iii) a prescribed proportion of Board members shall have obtained (iii) 取得会计或其他专业资格之董事会成员 accounting or other professional qualifications; 规定人数比例; (iv) a prescribed proportion of Board members shall have China (iv) 拥有中国相关工作经验之董事会成员规 related work experience. 定人数比例。 The Nomination Committee shall monitor the implementation of the 提名委员会将监察董事会多元化政策之施行情 board diversity policy and review the progress of its measurable 况,并不时审阅其重要目标之进展。提名委员 objectives from time to time. Based on its review, the Nomination 会会按照其审阅结果考虑现时董事会是否取得 Committee considers that the current Board is well-balanced and 适当平衡,以及其多元化组合是否切合本公司 of a diverse mix appropriate for the business development of the 之业务发展。 Company. NOMINATION POLICY 提名董事的政策 Selection Criteria 甄选标准 The factors listed below would be used as reference by the 提名委员会在评估推荐候选人是否合适时,会 Nomination Committee in assessing the suitability of a proposed 参考以下因素。 candidate. Reputation for integrity; 诚信的声誉; Accomplishment and experience; 成就和经验; Commitment in respect of available time and relevant interest; 对现有时间和相关利益的承诺; SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 53 Diversity in all its aspects, including but not limited to gender, 所有方面的多样性,包括但不限于性 age (18 years or above), cultural and educational background, 别、年龄(18岁或以上)、文化和教育背 ethnicity, professional experience, skills, knowledge and 景、族裔、专业经验、技能、知识和服 length of service; and 务年限;及 In the case of independent non-executive Directors, the 对于独立非执行董事,候选人的独立性。 independence of the candidate. These factors are for reference only, and not meant to be exhaustive 这些因素仅供参考,并不是详尽无遗和果断 and decisive. 的。 Subject to the provisions of the Bye-laws of the Company, retiring 在符合本公司章程规定的情况下,即将退任的 Directors are eligible for nomination by the Board to stand for re- 董事有资格被董事会提名参加大会连任。 election at a general meeting. Proposed candidate will be asked to submit his/her necessary 建议的候选人将被要求以规定的形式提交 personal information in a prescribed form, together with his/her 他╱她必要的个人资料,以及他╱她的书面同 written consent to be appointed as a Director and to the public 意被任命为董事,并在任何文件或相关网站上 disclosure of his/her personal data on any documents or the relevant 公开披露他的个人资料。网站的目的或与她的 websites for the purpose of or in relation to his/her standing for 竞选董事的目的有关。 election as a Director. The Nomination Committee may request candidates to provide 提名委员会可在认为必要时要求候选人提供补 additional information and documents, if considered necessary. 充资料和文件。 Nomination Procedures 提名程序 The Secretary of the Nomination Committee shall call a meeting of 提名委员会秘书应召开提名委员会会议,并邀 the Nomination Committee, and invite nominations of candidates 请董事会成员所提名的候选人(如有),以供提 from Board members if any, for consideration by the Nomination 名委员会在会前审议。提名委员会也可提出非 Committee prior to its meeting. The Nomination Committee may 董事会成员提名的候选人。 also put forward candidates who are not nominated by Board members. For filling a casual vacancy, the Nomination Committee shall make 为填补临时空缺,提名委员会应提出建议,供 recommendations for the Board’s consideration and approval. For 董事会审议和批准。提名委员会如欲提出候选 proposing candidates to stand for election at a general meeting, the 人在大会上参选,须向董事会提名,供其审议 Nomination Committee shall make nominations to the Board for its 及提出建议。 consideration and recommendation. 54 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Until the issue of the relevant circular to the Company’s shareholders, 在向公司股东发出有关通知之前,被提名人不 the nominated persons shall not assume that they have been 得假定他们已被董事会提议在股东大会上参 proposed by the Board to stand for election at the general meeting. 选。 In order to provide information of the candidates nominated by 为提供董事会提名参加大会选举的候选人的资 the Board to stand for election at a general meeting, and to invite 讯,并邀请股东提名,将向公司股东发出通 nominations from shareholders, a circular will be sent to the 知。该通告将列出本公司股东提名的提交期 Company’s shareholders. The circular will set out the lodgment 限。拟议候选人的姓名、简介(包括资格和相 period for the Company’s shareholders to make the nominations. 关经验)、独立性、拟议薪酬以及根据适用法 The names, brief biographies (including qualifications and relevant 律、规则和条例要求提供的任何其他资讯将列 experience), independence, proposed remuneration and any other 入给公司股东的通知。 information, as required pursuant to the applicable laws, rules and regulations, of the proposed candidates will be included in the circular to the Company’s shareholders. A shareholder of the Company can serve a notice to the Company 本公司股东可在提交期内向公司秘书送达通 Secretary within the lodgement period of its intention to propose 知,表示拟提出决议,选举某人为董事,而毋 a resolution to elect a certain person as a Director, without 须向董事会或提名委员会提名,比给公司股东 the Board’s recommendation or the Nomination Committee’s 的通知中列出的候选人还要多。这样提出的候 nomination, other than those candidates set out in the circular to 选人的详情,会以补充通告方式送交所有股东 the Company’s shareholders. The particulars of the candidates 参考。 so proposed will be sent to all shareholders for information by a supplementary circular. A candidate is allowed to withdraw his candidature at any time 候选人可在大会召开前的任何时间向公司秘书 before the general meeting by serving a notice in writing to the 送达书面声明,以撤回其候选人资格。 Company Secretary. As there may be more candidates than the vacancies available, 由于候选人可能多于现有空缺,而且将采用简 and the simple majority method will be used to determine who shall 单多数法确定谁应当选为董事,因此,股东提 be elected as a Director, shareholder’s proposed resolutions shall 出的决议应采取与为董事会推荐的候选人。 therefore take the same form as the resolutions proposed for the candidates recommended by the Board. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 55 CORPORATE GOVERNANCE FUNCTIONS 企业管治职能 The Board is responsible for performing the corporate governance 董事会负责履行企业管治职责,并已遵照守则 duties and has adopted a written guideline on corporate governance 采纳企业管治职能之书面指引。 functions in compliance with the Code. The duties of the Board in respect of corporate governance 董事会涉及企业管治职能之职责概述如下: functions are summarised as follows: (i) to develop and review the Company’s policies and practices (i) 制订及审阅本公司之企业管治政策及常 on corporate governance; 规; (ii) to review and monitor the training and continuous professional (ii) 审阅及监察董事及高级管理人员之培训 development of the Directors and senior management; 及持续专业发展; (iii) to review and monitor the Company’s policies and practices on (iii) 审阅及监察本公司遵守法律及监管规定 compliance with legal and regulatory requirements; 之政策及常规; (iv) to review the Company’s compliance with the code provisions (iv) 审阅本公司遵守守则所载之守则条文以 as set out in the Code and its disclosure requirements in the 及其于企业管治报告之披露规定之合规 Corporate Governance Report. 情况。 During the year, the Board reviewed and monitored the training 于年内,董事会已审阅及监察董事之培训以及 of the Directors, and the Company’s policies and practices on 本公司遵守法律及监管规定之政策及常规。 compliance with legal and regulatory requirements. During the year, the Board reviewed the terms of reference of 于年内,董事会已审阅董事会提名委员会、薪 the Nomination Committee, Remuneration Committee and Audit 酬委员会及审核委员会的职权范围。经修订的 Committee of the Board of Director. The revised terms of references 职权范围自二零一九年一月一日起生效。 were effective from 1 January 2019. 56 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 REMUNERATION COMMITTEE 薪酬委员会 According to the Code, the Company established the Remuneration 根据守则之规定,本公司于二零零五年三月成 Committee in March 2005. The principal role of the Remuneration 立薪酬委员会。薪酬委员会之主要职责为行使 Committee is to exercise the power of the Board to determine 董事会权力,厘定及审阅个别董事及主要行政 and review the remuneration package of individual directors and 人员薪酬组合(包括薪金、花红及实物利益), key executives, including salaries, bonuses and benefits in kind, 并会考虑董事及主要行政人员所耗用之时间及 considering factors such as time commitment and responsibilities of 职责、本集团其他职务之雇用条件,以及与表 the Directors and key executive, employments conditions elsewhere 现挂钩之薪酬是否令人满意,以于管理层之奖 in the Group and desirability of performance based remuneration 励与股东之利益间作出配合。除将个别董事及 so as to align management incentives with shareholders interests. 高级职员之表现与补偿挂钩考虑彼等之表现及 The Remuneration Committee is also considering all relevant 职责外,薪酬委员会亦会考虑所有相关薪酬数 remuneration data and market conditions in addition to considering 据及市场状 况, 并会以企业目标作为计量标 the performance and responsibility of individual directors and 准。年内,薪酬委员会已审阅并批准执行董事 officers by linking their compensation with performance and 及高级管理人员之薪酬组合。 will measure it against corporate goals. During the year, the Remuneration Committee reviewed and approved the remuneration package of the Executive Directors and senior management. The Remuneration Committee shall consult the Chairman and/or 薪酬委员会会就其对执行董事之薪酬提出之建 the Chief Executive Officer of the Company about its proposals 议咨询本公司主席及╱或行政总裁之意见,并 relating to remuneration of the Executive Directors and have access 可于有需要时征询专业意见。于审阅所有相关 to professional advice if it considers necessary. After reviewing 资料后,薪酬委员会将就董事及高级管理人员 all relevant information, the Remuneration Committee shall make 之薪酬向董事会提供推荐意见。 recommendations to the Board for the remuneration of the Directors and senior management. The Remuneration Committee comprises three independent non- 薪酬委员会由三名独立非执行董事及两名执行 executive Directors and two executive Directors. Its present 董事组成,其现时成员为︰ members are: Independent Non-executive Directors 独立非执行董事 Mr. Lam Kwok Cheong – Chairman 林国昌先生-主席 Mr. Choy Sze Chung, Jojo 蔡思聪先生 Mr. Lee Thomas Kang Bor 李镜波先生 Executive Directors 执行董事 Mr. Zheng Hao Jiang 郑浩江先生 Mr. Zhu Lei 朱雷先生 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 57 The Remuneration Committee held 2 meetings in 2018/2019 于二零一八年╱二零一九年,薪酬委员会共举 to review and approve directors, and senior management’s 行2次会议,以审阅及批准董事及高级管理人 remuneration. The directors fee paid to the Non-executive and 员之薪酬。薪酬委员会会每年审阅及批准支付 Independent Non-executive Directors are subject to annual review 予非执行董事及独立非执行董事之董事袍金。 and approval by the Remuneration Committee. The emoluments of 本公司各董事于二零一八年╱二零一九年之酬 each of the Directors of the Company for 2018/2019 are set out in 金载列于财务报表附注12。 note 12 to the financial statements. Below is a summary of principal work performed by the Remuneration 以下为薪酬委员会于二零一八年╱二零一九年 Committee during 2018/2019: 进行之主要工作概要: Review of the remuneration of the Executive Directors and 检讨及批准执行董事及高级管理人员之 senior management and approval of the same. 薪酬。 Review of the remuneration of the Non-executive Directors 检讨非执行董事(包括独立非执行董事) (including the Independent Non-executive Directors), with 之薪酬,并向董事会提供推荐意见,供 recommendations to the Board for approval. 其审批。 Review the existing share option scheme with recommendations 检讨现行购股权计划,并向董事会提供 to the Board for approval. 推荐意见,供其审批。 The annual remuneration of the members of the current senior 本集团现任高级管理人员之年薪介乎下列组 managements of the Group by band is set out below: 别: Emoluments Band Number of individuals 酬金组别 人数 HK$Nil to HK$1,000,000 7 零港元至1,000,000港元 HK$1,000,000 to HK$1,500,000 1 1,000,000港元至1,500,000港元 NOMINATION COMMITTEE 提名委员会 The Nomination Committee was established on 6 October 2008 提名委员会于二零零八年十月六日成立,目前 and currently comprises three Independent Non-executive Directors 由三名独立非执行董事李镜波先生(提名委员 (“INED”), namely, Mr. Lee Thomas Kang Bor (chairman of the 会主席)、蔡思聪先生及林国昌先生组成。 Nomination Committee), Mr. Choy Sze Chung, Jojo, and Mr. Lam Kwok Cheong. 58 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 The principal responsibilities of the Nomination Committee include 提名委员会之主要职责包括定期检讨董事会之 reviewing the structure, size and composition (including the skills, 架构、规模及组成(包括技能、知识及经验)、 knowledge and experience) of the Board on a regular basis and 就任何建议之变动向董事会提供推荐意见、物 making recommendations to the Board regarding any proposed 色具备合适资格出任董事会成员之个别人士、 changes, identifying individuals suitably qualified to become 评估独立非执行董事之独立身份,就委任或重 Board member, assessing the independence of INED; and making 新委任董事及董事(尤其是主席及行政总裁)继 recommendations to the Board on relevant matters relating to 任计划等相关事宜向董事会提供推荐意见。 the appointment or re-appointment of Directors and succession planning for Directors in particular the chairman and the chief executive officer. The Nomination Committee has adopted written nomination 提名委员会已采纳书面提名程序,列明甄选本 procedures specifying the process and criteria for selection of 公司董事候选人之程序及条件。提名委员会将 candidates for directorship of the Company. The Nomination 根据个人技能、经验、专业知识、个人诚信及 Committee shall, based on criteria such as skills, experience, 投放之时间、本公司需要及其他相关法定规定 professional knowledge, personal integrity and time commitments 及规例等条件,识别及推荐候选人予董事会以 of such individuals, the Company’s needs and other relevant 批准任命。 statutory requirements and regulations, identify and recommend the proposed candidate to the Board for approval of appointment. All Non-executive Directors and INED are appointed for a specific 所有非执行董事及独立非执行董事之特定任期 term of two years and renewable for additional one year, and are 均为两年,并可续约一年,惟须根据本公司之 required to retire and eligible for re-election at the Annual General 公司细则每三年于本公司股东周年大会上告退 Meeting of the Company in every three years in accordance with the 一次,并符合资格膺选连任。 Company’s Bye-laws. The Nomination Committee held 2 meetings in 2018/2019. Below 提名委员会于二零一八年╱二零一九年曾举 is a summary of principal work performed by the Nomination 行2次会议。以下为提名委员会于二零一八 Committee during 2018/2019: 年╱二零一九年进行之主要工作概要: Recommendation to the Board on the appointment or 就委任或重新委任董事向董事会提供推 reappointment of directors. 荐意见。 Review of the structure, size and composition of the Board and 检讨董事会及各董事委员会之架构、规 the Board committees. 模及组成。 Assessment and confirmation of the independence of the INED 根据上市规则第3.13条所载之准则评核 according to the criteria set out in Rule 3.13 of the Listing 并确认独立非执行董事之独立性。 Rules. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 59 AUDIT COMMITTEE 审核委员会 The Company established an Audit Committee in compliance 本公司已根据上市规则之规定成立审核委员 with the Listing Rules for the purposes of reviewing and providing 会,以审阅及监察本集团之财务申报程序及内 supervision over the Group’s financial reporting process and internal 部监 控, 并与外部核数师讨论审核性质及范 controls and discussing with the external auditor for the nature and 围。审核委员会之职权范围书已于二零零五年 scope of audit. Written terms of reference of the Audit Committee 三月制订及采纳。 were formulated and adopted in March 2005. The Audit Committee comprises three Independent Non-executive 审核委员会由三名独立非执行董事组成。审核 Directors. The chairman of the Audit Committee is an Independent 委员会主席为独立非执行董 事。 其现时成员 Non-executive Director. Its present members are: 为︰ Independent Non-executive Directors 独立非执行董事 Mr. Choy Sze Chung, Jojo – Chairman 蔡思聪先生-主席 Mr. Lam Kwok Cheong 林国昌先生 Mr. Lee Thomas Kang Bor 李镜波先生 The Chairman of the Audit Committee, Mr. Choy Sze Chung, 审核委员会之主席为蔡思聪先生,彼于会计方 Jojo, has appropriate professional qualification in accounting 面具备合适之专业资格,并具备丰富之会计及 and extensive experience in accounting and auditing matters. 审计经验。高级管理人员及外部核数师一般均 Senior management and external auditor shall normally attend the 会出席会议。于二零一八年╱二零一九年,审 meetings. The Audit Committee held 4 meetings in 2018/2019 in 核委员会举行4次会议以履行其前述职务,本 which three of the meetings with representatives from the external 公司外部核数师之代表亦有出席其中三次会 auditor of the Company, for the purpose of discharging the 议。 aforesaid duties. Below is a summary of principal work performed by the Audit 以下为审核委员会于二零一八年╱二零一九年 Committee during 2018/2019: 进行之主要工作概要: Discussion with the auditors the nature and scope of the audit 于审核开始前,与核数师就审核之性质 and reporting obligations before the audit commenced. 及范围以及申报责任进行讨论。 Review of the annual financial statements of the Group for the 审阅本集团截至二零一八年三月三十一 year ended 31 March 2018 and the interim financial statements 日止年度之全年财务报表及本集团截至 of the Group for the six months ended 30 September 2018, 二零一八年九月三十日止六个月之中期 with recommendations to the Board for approval. 财务报表,并向董事会提供推荐意见, 供其审批。 Review reports from the auditors to the Audit Committee. 审阅核数师致审核委员会之报告。 60 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Review of the internal controls and the risk management 检讨本集团之内部监控及风险管理制度。 systems of the Group. Review of the connected transactions (including continuing 审阅于本年度进行之关连交易(包括持续 connected transactions) carried out during the year. 关连交易)。 Review of the financial budget of the Group. 审阅本集团财务预算。 Review and make recommendation to the Board on the 审阅及就核数师委任及辞任向董事会提 appointment and the resignation of the auditors. 供推荐意见。 Review and approve the remuneration, other terms of 审阅及批准薪酬、其他委聘条款、审核 engagement, the nature and scope of the audit and the 性质及范围以及核数师的申报责任。 reporting obligations of the auditor. There was no disagreement between the Board and the Audit 董事会与审核委员会之间在外部核数师之挑 Committee on the selection, appointment and resignation of the 选、委任及辞任方面并无意见分歧。 external auditors. The Company’s annual results for the year ended 31 March 2019 本公司截至二零一九年三月三十一日止年度之 have been reviewed by the Audit Committee. 年度业绩已由审核委员会审阅。 AUDITORS’ REMUNERATION 核数师酬金 Each year, the auditor is appointed by resolution at the annual 核数师会于本公司每年之股东周年大会上以决 general meeting of the Company and the Directors are authorised to 议案方式委任,而董事获授权厘订审计服务之 fix the remunerations for the auditing services. 酬金。 During the year, Crowe (HK) CPA Limited (“Crowe”) resigned as 年内,国富浩华(香港)会计师事务所有限公司 the auditor of the Company with effect from 1 March 2019. BDO (「国富浩华」)已辞任为本公司核数师,自二零 Limited (“BDO”) was appointed as the auditor of the Company with 一九年三月一日起生效。香港立信德豪会计师 effect from 1 March 2019 to fill the casual vacancy occasioned by 事务所有限公司(「立信德豪」)已获委任为本公 the resignation of Crowe. BDO shall hold office until the conclusion 司核数师,自二零一九年三月一日生效,以填 of the forthcoming annual general meeting of the Company. 补国富浩华辞任的临时空缺。立信德豪的任期 直至本公司应届股东周年大会结束止。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 61 The fee paid or payable to BDO for annual audit for the year 截至二零一九年三月三十一日止年度就年度审 ended 31 March 2019 amounted to approximately HK$1.50 million 核已付╱应付立信德豪之费用约1,500,000港 (2018: HK$1.30 million paid to Crowe). BDO and its affiliated 元(二零一八年:向国富浩华支付1,300,000 companies have performed other non-auditing services during 港元)。立信德豪及其联属公司于年内曾进行 the year with aggregate service fee of approximately HK$0.34 其他非审计服务,服务费用合共约为340,000 million (2018: HK$0.51 million paid to Crowe). Non-auditing 港 元(二零一八年:已付国富浩华510,000港 services include mainly provision of professional services in tax 元。非审计服务主要包括提供税务咨询、合规 consultancy, compliance review, review on Environmental, Social 审阅、审阅环境、社会及管治报告以及审阅本 and Governance Report and review of the continuing connected 集团的持续关连交易及全年业绩公布等专业服 transactions and the annual results announcement of the Group. 务。审核委员会根据彼等就此制订之政策考虑 The Audit Committee has considered, based on the policy 有关事宜,并就本公司核数师进行之非审计服 developed by them in this regard, and made recommendations to 务向董事会提供推荐意见。 the Board for these non-auditing services conducted by our auditor. COMPANY SECRETARY 公司秘书 The Company Secretary supports the Board and the Board 公司秘书为董事会及董事委员会提供支援,确 committees by ensuring good information flow within the Board 保董事会内部有良好信息流通,董事会政策及 and that Board policy and procedures are followed. The Company 程序得到遵循。公司秘书亦在本公司与其股东 Secretary also plays an essential role in the relationship between 关系中担当重要角色,安排董事就职及专业发 the Company and its shareholders, and facilitates induction and 展。 professional development of directors. The company secretary is responsible for ensuring that the Board is 公司秘书负责确保董事会全面知悉所有法例、 fully briefed on all legislative, regulatory and corporate governance 监管及企业管治发展,且董事会于作出决定时 developments and that it has regard to them when making 已考虑该等发展因素。公司秘书亦会就董事披 decisions. The Company Secretary also advises the Directors on 露彼等于证券、关连交易及内幕消息之权益之 their obligations for disclosure of interests in securities, connected 责任向彼等提供意见,以及确保上市规则项下 transactions and inside information and ensures that the standards 之准则及披露规定获得遵从,及于有需要时于 and disclosures required by the Listing Rules are observed and, 本公司年报内反映。 where required, reflected in the annual reports of the Company. The Company Secretary is a full time employee of the Company and 公司秘书为本公司全职雇员,对本公司事务有 has day-to-day knowledge of the Company’s affairs. The Company 日常认知。公司秘书由董事会委任,并向本公 Secretary is appointed by the Board and reports to the chairman 司主席及行政总裁汇报。 and the chief executive officer of the Company. Mr. Li Yat Ming, the Financial Controller of the Group, has been 本集团之财务总监李一鸣先生已获本公司委任 appointed by the Company as the company secretary. He is also the 为公司秘书。彼亦为本公司首席联络人。于回 primary contact person of the Company. For the year under review, 顾年度,李先生已进行不少于15个小时之相关 Mr. Li has taken no less than 15 hours of relevant professional 专业培训,更新其技能及知识。李先生之履历 trainings to update his skills and knowledge. The biographical 详情载于本年报「董事及高级管理人员之履历」 details of Mr. Li are set out in the section headed “Biographies of 一节内。 Directors and Senior Management” of this Annual Report. 62 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 INVESTOR RELATIONS AND SHAREHOLDERS 投资者关系及股东权利-召开 RIGHTS – CONVENING OF GENERAL 股东大会 MEETING To promote investor relations and communications, meetings 为加强与投资者间之关系及联系,本公司经常 with fund managers and potential investors are held frequently. 与基金经理及潜在投资者会晤。本公司鼓励股 Shareholders are encouraged to attend the annual general 东出席股东周年大会,大会举行前最少21天会 meetings for which at least 21 days, notice is given. The Chairman 发出通知。主席及董事于会上解答有关本集团 and Directors are available to answer questions on the Group’s 业务之提问。本公司每年于不超过由举行上一 businesses at the meetings. An annual general meeting of the 届股东周年大会起计十五(15)个月期间内举行 Company shall be held every year within a period of not more than 股东周年大会。 fifteen (15) months after the holding of the last preceding annual general meeting. Shareholders shall have the right to request the Board to convene a 股东有权要求董事会召开本公司之股东大会, general meeting of the Company and put forward agenda items for 并提呈议程项目供股东考虑。各股东大会(股 consideration by shareholders. Each general meeting, other than an 东周年大会除外)应称为股东特别大会。持有 annual general meeting, shall be called a special general meeting. 附带本公司股东大会投票权之本公司缴足股本 Shareholders holding an aggregate of not less than one-tenth (10%) 合共不少于十分之一(10%)之股东,在任何时 of the paid up capital of the Company carrying the right of voting at 候均有权透过向董事会或本公司秘书发出书面 general meetings of the Company shall at all times have the right, 要求,要求由董事会召开股东特别大会,以处 by written requisition to the Board or the Secretary of the Company, 理于该要求中指明之任何事务;而该大会应于 to require a special general meeting to be called by the Board for 提交该要求起计两(2)个月内举行。倘董事会未 the transaction of any business specified in such requisition; and 能于由提交要求起计二十一(21)日内处理召开 such meeting shall be held within two (2) months after the deposit of 大会事宜,则提出要求之人士可自行按照百慕 such requisition. If within twenty-one (21) days of such deposit, the 达一九八一年公司法第74条条文召开大会。根 Board fails to proceed to convene such meeting, the requisitionists 据上市规则第13.39(4)条,股东于股东大会上 themselves may do so in accordance with the provisions of Section 必须以投票表决方式进行投票。因此,所有提 74 of the Companies Act 1981 of Bermuda. Pursuant to Rule 呈股东周年大会表决之决议案必须以投票表决 13.39(4) of the Listing Rules, any vote of shareholders at a general 方式进行投票。股东周年大会主席将于股东周 meeting must be taken by poll. Accordingly, all the resolutions 年大会开始时详细解释进行投票表决之程序。 put to vote at the annual general meetings will be taken by way of poll. The chairman of the annual general meetings will explain the detailed procedures for conducting a poll at the commencement of the annual general meetings. After the conclusion of the annual general meetings, the poll results 于股东周年大会结束后,投票表决结果将分别 will be published on the respective websites of the Stock Exchange 登载于联交所及本公司之网站。 and the Company. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 63 Corporate Governance Report The Board is committed to providing clear and full performance 董事会致力透过刊发中期及年度报告清晰全面 information of the Group to shareholders through the publication 地向股东提供有关本集团表现之资料。除获寄 of interim and annual reports. In additional to dispatching circulars, 发通函、通告及财务报告外,股东亦可于本集 notices, financial reports to shareholders, addition information is 团网站上浏览其他资料。 also available to shareholders from the Group’s website. A resolution in respect of certain proposed changes to the Bye-laws 有关本公司若干公司细则之建议变动之决议案 of the Company was passed in the 2012 AGM held on 20 August 已于本公司在二零一二年八月二十日举行之二 2012. An updated constitutional document of the Company was 零一二年股东周年大会上通过。本公司已于二 published on 22 August 2012. 零一二年八月二十二日刊载经更新之章程文 件。 DIVIDEND POLICY 股利政策 According to the Bye-laws of the Company, the Company may 根据本公司的章程,本公司可根据本公司董事 declare dividend according to the recommendation of the board of 会的建议宣布分派股息。如果这样做会使公司 directors of the Company. No dividend shall be paid or distribution 无法支付到期时的负债或其资产的可变现价值 made out of contributed surplus if to do so would render the 因此会低于其负债,不得支付股息或分配供款 Company unable to pay its liabilities as they become due or the 盈余。 realisable value of its assets would thereby become less than its liabilities. The Company may in its full discretion decide not to declare 公司可根据各种原因,包括但不限于维持或调 dividend due to various reasons, including but not limited to 整资本结构,保留更多资金以获取机会等,决 maintaining or adjusting the capital structure and reserving more 定不申报分红等。 capital to capture opportunities, etc. According to the Bermuda Companies Act, the Company cannot 根据《百慕达公司法》,如(a)在付款后无法支付 declare or pay a dividend, or make a distribution, out of contributed 到期的负债,公司不得宣布分派或支付红利, surplus if: (a) it is, or would after the payment be, unable to pay its 或从贡献的盈余中进行分配;或(b)其资产的可 liabilities as they become due; or (b) the realisable value of its assets 变现价值因此将低于其负债和已发行股份上限 would thereby be less than the aggregate of its liabilities and its 的总额。 issued share capital and share premium accounts. 64 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Corporate Governance Report SHAREHOLDERS RIGHTS ENQUIRIES TO THE 股东权利-向董事会查询 BOARD Shareholders may make enquiries with the Board at the general 股东可于本公司股东大会上向董事会作出查 meetings of the Company or at any time send their enquiries and 询,或随时经公司秘书以书面形式向董事会提 concerns to the Board in writing through the company secretary of 出查询及关注事项。本公司之公司秘书之联络 the Company whose contact details are as follows: 资料如下: Sparkle Roll Group Limited 耀莱集团有限公司 Rooms 2028-36, 20th Floor, Sun Hung Kai Centre, 香港湾仔港湾道30号 30 Harbour Road, Wanchai, Hong Kong 新鸿基中心20楼2028-36室 Telephone: (852) 2299 9902 电话:(852) 2299 9902 Fax: (852) 2802 8577 传真:(852) 2802 8577 RISK MANAGEMENT AND INTERNAL 风险管理及内部监控 CONTROLS The Board has an on ongoing responsibility for maintaining the 董事会对维持本公司之内部监控系统及对评估 Group’s system of internal control and for the assessment and 及管理风险与评核其成效以保障股东、投资及 management of risk and reviewing their effectiveness to safeguard 本公司的资产负有持续的责任。于承担其责任 shareholders, investment and the Company’s assets. In meeting 时,董事会已委托审核委员会及已委任专业内 its responsibility, the Board has entrusted the Audit Committee 部监控顾问负责评估本公司之风险及评核本集 and appointed professional internal control consultant with the 团之内部监控系统,其中包括财务、营运及合 responsibility to assess risk of the Group and review the internal 规监控职能。风险评估报告将记录主要业务风 control systems of the Group, which include financial, operational 险,而内部评核报告将提供有关是否适当设计 ad compliance controls functions. The risk assessment report 本集团之内部监控程序、系统及监控的实际调 will document the major business risks while the internal review 查结果,以达致营运中已制定及正在有效执行 report will provide the factual findings of whether the internal 之特定监控目标,其中将于测试及评核之特定 control procedures, systems and controls of the Group are suitably 期间达致特定监控目标。 designed to achieve specified control objectives, have been placed in operation, and are operating effectively, in which the specific controls objectives are achieved during a specified period from the testing and review. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 65 Corporate Governance Report During the year, the Board has conducted review on the 年内,董事会透过与审核委员会讨论有关审计 effectiveness of the internal control system of the Group through 调查结果及监控问题,对本集团之内部监控系 discussions with the Audit Committee on audit findings and control 统之成效展开检讨。年内之内部监控检讨报告 issue. The internal control review report for the year listed out the 就相关周期及程序列出不足之处之调查结果, findings of the weaknesses in respect of the relevant cycles and 及向本公司提出推荐建议以进一步改善其内部 procedures with recommendations proposed for the Company to 监控系统。评核结果及风险评估报告已经确 further improve its internal control system. The results of the review 定,并已制订适当措施以管理风险。根据审核 and the risk assessment report have been identified and appropriate 委员会的评核,董事会认为,本集团之内部监 measures have been put in place to manage the risks. The Board 控系统属有效,并且回顾年度之资源、员工资 based on the review of the Audit Committee, considered that the 历及经验、培训计划及会计和财务预算报告职 Group’s internal control system is effective and the resources, staff 能乃属适当。 qualifications and experience, training programmes and budget of the accounting and financial reporting functions, were adequate for the year under review. The Company has reviewed the inside information policy from 本公司不时检讨内幕消息政策并保持其内容更 time to time and kept its content up-to-date. The updated inside 新至今。经更新之处理及发放内幕消息之内幕 information policy for the handling and dissemination of inside 消息政策于董事、高级管理层及相关雇员获雇 information has been circulated to the Directors, the senior 用时已予以传阅。 management and the relevant employees when they are employed. DIRECTORS RESPONSIBILITY FOR THE 董事对财务报表之责任 FINANCIAL STATEMENTS The Directors acknowledge their responsibility for the preparation 董事知悉须负责编制本公司财务报表,以及确 of the financial statements of the Company and that the financial 保财务报表按法定要求及适用会计准则编制。 statements are prepared in accordance with statutory requirements 董事亦有责任确保及时刊发本公司财务报表。 and applicable accounting standards. It is also the responsibility 年内,管理层已向董事会作出充分说明并提供 of the Directors to ensure the timely publication of the financial 资料,使董事会在知情情况下评估呈交其审批 statements of the Company. During the year, the management has 之财务及其他资料,包括有关本公司表现、状 provided sufficient explanation and information to the Board to 况及前景之最新资料。 enable it to make an informed assessment of the financial and other information put before it for approval including the updates on the Company’s performance, position and prospects. A discussion and analysis of the Group’s performance, an 本集团表现之讨论及分析、本公司产生或保留 explanation of the basis on which the Company generates or 长远价值所依赖基础之说明以及达致本公司目 preserves value over the longer term and the strategy for delivering 标之策略已经编备,并载于本年报「主席报告」 the Company’s objectives have been prepared and included in 及「管理层讨论及分析」等节。 the sections headed “Chairman’s Statement” and “Management Discussion and Analysis” of this Annual Report. 66 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Corporate Governance Report The Directors confirm that they are not aware of any material 董事确认彼等并不知悉有任何重大不明朗因 uncertainties relating to events or conditions that may cast 素,涉及可能对本集团持续经营能力构成重大 significant doubt upon the Group’s ability to continue as a going 疑问之事件或状况。 concern. FINANCIAL REPORTING 财务申报 The Board recognises its responsibility to prepare consolidated 董事会明白其须负责根据香港会计师公会颁布 financial statements which give a true and fair view and are in 之香港财务报告准则、香港会计准则及诠释 accordance with Hong Kong Financial Reporting Standards, (以下统称「香港财务报告准则」)编制真实公 Hong Kong Accounting Standards and Interpretations (hereafter 平之综合财务报表,并选择及贯彻使用合适之 collectively referred to as HKFRSs) issued by the Hong Kong 会计政策。所作出之判断及估算须为审慎及合 Institute of Certified Public Accountants. Appropriate accounting 理。于采纳与本集团之本年度财务报表有关并 policies are selected and applied consistently. Judgements and 适用于有关财务报表之新订或经修订香港财务 estimates made are prudent and reasonable. The Group has 报告准则后,本集团已改变若干会计政策。本 changed some of its accounting policies following the adoption of 集团所采纳之会计政策载于财务报表附注3内 the new or amended HKFRSs which are relevant to and effective 「主要会计政策概要」中。董事将尽力确保于 for the Group’s financial statements for the year. The accounting 财务申报中持平、清晰及合理地评估本集团之 policies adopted by the Group are set out in the Summary of 表现、状况及前景。董事经作出适当查询后认 Significant Accounting Policies of the note 3 to the financial 为,本集团具备充足资源继续于可见将来经营 statements. The Directors use their best endeavours to ensure a 其现有业务,因此,采纳持续经营基准编制综 balanced, clear and understandable assessment of the Group’s 合财务报表实属恰当。 performance, position and prospects in financial reporting. The Directors, having made appropriate enquiries, consider that the Group has adequate resources to continue in operational existence for the foreseeable future and that, for this reason, it is appropriate to adopt the going concern basis in preparing the consolidated financial statements. The responsibilities of the auditor with respect to financial reporting 核数师对财务申报之责任载于第105至112页 are set out on pages 105 to 112 in the Independent Auditor’s 之独立核数师报告内。 Report. For and on behalf of the Board of Directors 代表董事会 Sparkle Roll Group Limited 耀莱集团有限公司 Zheng Hao Jiang 主席兼行政总裁 Chairman & Chief Executive Officer 郑浩江 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 67 EXECUTIVE DIRECTORS 执行董事 ZHENG HAO JIANG (Chairman and Chief Executive Officer) 郑浩江(主席兼行政总裁) Aged 52, Mr. Zheng graduated in the Law Department (Economic 现年52岁,郑先生于一九九零年毕业于北京大 Law Speciality) of Peking University in 1990 with a Bachelor degree 学法律系经济法专业,持有法学士学位。郑先 in Law. Mr. Zheng has over 20 years’ experience in Beijing in the 生于北京从事资本组合管理、资本市场分析管 areas of equity portfolio management, capital market analysis 理及财务顾问等工作超过20年。郑先生为香港 management and financial advisory. He is a founding member of 专业及资深行政人员协会创会会员,并为香港 Hong Kong Professionals and Senior Executives Association and a 董事学会资深会员。郑先生于二零零六年十月 fellow member of the Hong Kong Institute of Directors. Mr. Zheng 加入本集团。 joined the Group in October 2006. Mr. Zheng has an interest in such number of shares under Part XV of 郑先生拥有本年报「董事会报告-董事于本公 the SFO as disclosed in the section headed “Report of the Directors 司及其相联法团之股份、相关股份及债券之权 – Directors’ interests in shares, underlying shares and debentures of 益」一节所披露根据证券及期货条例第XV部之 the Company and its associated corporations” of this annual report. 有关数目股份之权益。 ZHAO XIAO DONG (Deputy Chairman and Chief Operating Officer) 赵小东(副主席兼运营总裁) Aged 51, Mr. Zhao, graduated in the Information Technology 现年51岁,赵先生于一九九零年毕业于北京化 Department of Beijing University of Chemical Technology in 1990 工大学计算机系计算机应用专业,持有工程学 with a Bachelor degree in Engineering. He has over 18 years of 士学位。彼于北京拥有18年以上管理高档消费 experience in the areas of wholesale and retail management of 品批发及零售之经验。赵先生自二零一五年十 luxury goods in Beijing. Mr. Zhao has been a Member of Supervisory 月起为文投控股股份有限公司(上海证券交易 Board of Cultural Investment Holdings Co., Ltd (Shanghai Stock 所股份代码:600715)之监事会成员。 Exchange stock code: 600715) since October 2015. Mr. Zhao was the executive Director, the Deputy Chairman and the 赵先生于二零零八年九月至二零一五年十二月 Chief Operating Officer of the Company from September 2008 to 出任本公司之执行董事、副主席兼运营总裁。 December 2015. He had also been a Consultant from January 2016 彼亦于二零一六年一月至二零一八年四月十五 to 15 April 2018 in respect of the watch and jewellery business 日为本集团手表及珠宝业务的顾问及自二零 of the Group and has been re-designated as the Chief Operating 一八年四月十六日起获调任为本集团的运营总 Officer of the Group since 16 April 2018. 裁。 68 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 ZHU LEI 朱雷 Aged 44, Mr. Zhu obtained a Bachelor of Arts degree in Russian 现年44岁,朱先生于一九九八年毕业于北京师 from the Department of Foreign Languages and Literatures 范大学外国语言文学系俄语专业,持有文学士 of Beijing Normal University in 1998. He has over 18 years of 学位。彼拥有18年以上管理及销售珠宝钟表和 experience in management and sales of watches and jewelry and 管理运营高尔夫球俱乐部之经验。朱先生于二 management and operation of golf clubs. Mr. Zhu joined the Group 零一一年五月加入本集团,历任本集团北京总 in May 2011 and has since held several positions in the Group, 部所属市场部行政总监、北京耀莱新天地商业 including but not limited to the executive director of the marketing 发展有限公司营运总监、本集团红酒部总监, department of our Beijing headquarter, the operating director of 以及耀莱在线(北京)商业服务有限公司总经理 Beijing Sparkle Roll Xin Tian Di Commerce Development Limited, 等职。 the director of the fine wine business of the Group and the general manager of Sparkle Roll Online (Beijing) Business Service Limited. Mr. Zhu is the brother-in-law of Mr. Qi Jian Hong who is the 朱先生为本公司之控股股东綦建虹先生之妻 controlling shareholder of the Company. Mr. Qi Jian Hong is also the 兄,而綦建虹先生则为本公司非执行董事綦建 younger brother of Mr. Qi Jian Wei, a Non-executive Director of the 伟先生之弟弟。 Company. NON-EXECUTIVE DIRECTORS 非执行董事 GAO YU 高煜 Aged 45, Mr. Gao is currently a Managing Director of the Private 现年45岁,高先生现时为摩根士丹利亚洲有限 Equity Division of Morgan Stanley Asia Limited, primarily focusing 公司直接投资部董事总经理,主要专责于中国 on private equity investment activities in China. He had also been 之直接股权投资。彼亦曾于二零零七年七月至 a non-executive director of China Dongxiang (Group) Co., Ltd. (HK 二零一三年五月担任中国动向(集团)有限公司 stock code: 3818) (“China Dongxiang”) from July 2007 to May 2013 (香港股份代号:3818)(「中国动向」)之非执 and then has been re-designated as an independent non-executive 行董事,其后由二零一三年五月二十四日调任 director of China Dongxiang from 24 May 2013 to present. Mr. 为中国动向之独立非执行董事,并任职至今。 Gao is a director of Shandong Buchang Pharmaceuticals Co., Ltd. 高先生为山东步长制药股份有限公司(上海证 (Shanghai Stock Exchange stock code: 603858) which was listed on 券交易所股份代码:603858,于二零一六年 18 November 2016. 十一月十八日上市)之董事。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 69 Mr. Gao was also a non-executive director of Belle International 高先生亦于二零零六年八月至二零一四年八月 Holdings Ltd (HK stock code: 1880) from August 2006 to August 担任百丽国际控股有限公司(香港股份代号: 2014 and then had been re-designated as an independent non- 1880)的非执行董事,随后于二零一四年八月 executive director of Belle International Holdings Limited from 5 五日至二零一七年七月二十七日调任为百丽国 August 2014 to 27 July 2017. 际控股有限公司的独立非执行董事。 Prior to joining Morgan Stanley Asia Limited, Mr. Gao worked in 于加入摩根士丹利亚洲有限公司前,高先生曾 Citigroup’s Investment Banking Division in Asia for about five years. 任职花旗集团于亚洲之投资银行部约五年。彼 He also worked in Donaldson, Lufkin & Jenrette’s Debt Capital 亦曾于Donaldson, Lufkin & Jenrette位于纽约 Markets Group in New York. Mr. Gao graduated from Stanford 之债务资本市场部工作。高先生毕业于美国史 University with a Master’s degree in engineering-economic systems 丹福大学,获工程经济系统及运筹学硕士学 and operations research as well as from Tsinghua University in 位,以及毕业于北京清华大学,获工程及经济 Beijing with dual Bachelor’s degrees in engineering and economics. 双学士学位。高先生于二零一零年九月加入本 Mr. Gao joined the Group in September 2010. 集团。 QI JIAN WEI 綦建伟 Aged 64, Mr. Qi has over 15-year experience in the jewellery 现年64岁,綦先生在中国之珠宝业务(包括贸 business in China including trading management, development of 易管理、开拓分销渠道及产品经营)方面拥有 distribution channels and production operations. He graduated from 逾15年经验。彼于一九八二年毕业于北京广播 machineries profession of Beijing Open University in 1982. He is 电视大学之机械专业。彼为耀莱控股有限公司 the elder brother of Mr. Qi Jian Hong, the sole beneficial owner of 之唯一实益拥有人綦建虹先生之兄长。綦先生 Sparkle Roll Holdings Limited. Mr. Qi joined the Group in September 于二零一零年九月加入本集团。 2010. 70 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 INDEPENDENT NON-EXECUTIVE DIRECTORS 独立非执行董事 CHOY SZE CHUNG, JOJO 蔡思聪 Aged 60, Mr. Choy is the Vice Chairman of National Resources 现年60岁,蔡先生为中润证券有限公司副主 Securities Limited. He has extensive experience in the securities 席。彼于证券业及商业管理方面拥有丰富经 industry and business management. Mr. Choy obtained Master of 验。蔡先生持有纽波特威尔斯大学之工商管理 Business Administration Degree from University of Wales, Newport 硕士学位及蒙纳士大学之商业法律硕士学位。 and Master of Business Law Degree from Monash University. Mr. 蔡先生于二零一九年获加拿大特许管理学院颁 Choy was awarded Fellowship by Canadian Chartered Institute of 授院士名衔及获林肯大学颁授荣誉管理博士 Business Administration and Honorary Doctorate of Management 名衔。蔡先生亦为绿叶制药集团有限公司(香 by Lincoln University in 2019. Mr. Choy is also an independent non- 港股份代号:2186)、招金矿业股份有限公司 executive director of Luye Pharma Group Limited (HK stock code: (香港股份代号:1818)及 第一信用金融集团 2186), Zhaojin Mining Industry Company Limited (HK stock code: 有限公 司( 香港股份代号:8215)之 独立非执 1818) and First Credit Finance Group Limited (HK stock code: 行董事。 8215). Mr. Choy was also an independent non-executive director of 蔡先生亦于二零零六年二月十六日至二零一八 Chengdu Putian Telecommunications Cable Company Limited (HK 年一月三十一日担任成都普天电缆股份有限公 stock code: 1202) (“Chengdu Putian”) from 16 February 2006 to 31 司(香港股份代号:1202)(「成都普天」)的独 January 2018. On 5 July 2018, the Listing Committee of the Stock 立非执行董事。于二零一八年七月五日,联交 Exchange censured, among other persons, Mr. Choy, being one 所上市委员会谴 责(其中包括)蔡先生,作为 of the independent non-executive directors of Chengdu Putian, for 成都普天其中一位独立非执行董事,违反其作 breach of his director’s undertaking to the Stock Exchange to use 为董事应竭尽全力促使成都普天就持续关连交 his best endeavours to procure Chengdu Putian to comply with the 易之披露规定遵守上市规则而向联交所作出的 Listing Rules relating to the disclosure requirements for continuing 承诺。彼自二零一八年六月二十一日起至二零 connected transactions. He has completed the training with respect 一八年九月三十日期间完成上市规则项下有关 to the compliance obligations and duties of directors under the 合规义务及董事职责之培训。 Listing Rules during the period from 21 June 2018 to 30 September 2018. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 71 Mr. Choy is also the Vice Chairman of the Institute of Securities 蔡先生亦为证券商协会有限公司副主席、香港 Dealers Limited, a fellow member of Hong Kong Institute of 董事学会资深会员、英国注册财务会计师公会 Directors, a fellow member of Institute of Financial Accountants, 资深会员、合规管理人协会资深会员、澳洲公 a fellow member of the Institute of Compliance Officers, a fellow 共会计师协会资深会员、注册财务策划师协会 member of the Institute of Public Accountants, a member of 有限公司会员、香港特别行政区第四届及第五 Society of Registered Financial Planner Limited, a member of the 届行政长官选举委员会委员(金融服务界)、香 fourth session and the fifth session of the Chief Executive Election 港特别行政区第十二届及第十三届全国人大代 Committee of Hong Kong Special Administrative Region (Financial 表选举委员会成员、汕头市政协委员、汕头市 Services Subsector), a member of the Election Committee of the 海外联谊会名誉会长、汕头海外交流协会名誉 12th and 13th National People’s Congress of Hong Kong Special 会长、陈葆心学校名誉校长、九龙西区扶轮社 Administrative Region, a member of Shantou Chinese People’s 理事会理事及香港潮属社团总会之会董。蔡先 Political Consultative Committee, an honorary president of Shantou 生于二零零七年十月加入本集团。 Overseas Friendship Association, an honorary president of Shantou Overseas Exchange Association, an honorary principal of Chen Po Sum School, a committee member of Rotary Club Kowloon West and a director of Federation of Hong Kong Chiu Chow Community Organizations. Mr. Choy joined the Group in October 2007. Mr. Choy has an interest in such number of shares under Part XV of 蔡先生拥有本年报「董事会报告-董事于本公 the SFO as disclosed in the section headed “Report of the Directors 司及其相联法团之股份、相关股份及债券之权 – Directors’ interests in shares, underlying shares and debentures of 益」一节所披露根据证券及期货条例第XV部之 the Company and its associated corporations” of this annual report. 有关数目股份之权益。 LAM KWOK CHEONG 林国昌 Aged 65, Mr. Lam holds Bachelor of Laws degree from the 现年65岁,林先生持有香港大学法学学士学 University of Hong Kong. He is an independent non-executive 位。彼为华新手袋国际控股有限公司(香港股 director of Wah Sun Hangbags International Holdings Limited (HK 份代号:2683)之独立非执行董事。 stock code: 2683). Mr. Lam was an independent non-executive director of Southwest 林先生为西证国际证券股份有限公司(香港股 Securities International Securities Limited (HK stock code: 812) and 份代号:812)及朗华国际集团有限公司(前 China Brilliant Global Limited (formerly known as Prosten Health 称长达健康控股有限公司)(香港股份代号: Holdings Limited) (HK stock code: 8026) until his resignation on 8026)之独立非执行董事,直至彼分别于二零 19 September 2016 and 12 February 2018, respectively. He was 一六年九月十九日及二零一八年二月十二日辞 also an independent non-executive director of Kaisa Health Group 任止。彼亦于二零零四年九月至二零一四年六 Holdings Limited (formerly known as Mega Medical Technology 月及于二零一四年六月二十日至二零一六年六 Limited) (HK stock code: 876) from September 2004 to June 2014 月三十日分别出任及调任为佳兆业健康集团控 and then re-designated as a non-executive director from 20 June 股有限公司(前称美加医学科技有限公司)(香 2014 to 30 June 2016. 港股份代号:876)之独立非执行董事及非执行 董事。 72 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Mr. Lam is a Justice of the Peace with Bronze Bauhinia Star 林先生为太平绅士,并获授铜紫荆星章,且为 (BBS) and a solicitor of the High Court of the Hong Kong Special 香港特别行政区高等法院律师。林先生现为中 Administrative Region. Mr. Lam is currently a China-appointed 国委托公证人;香港董事学会资深会员;新界 Attesting Officer, a fellow member of the Hong Kong Institute of 区乡议局当然议员;淫亵物品审裁委员小组成 Directors, Ex-Officio Member of Heung Yee Kuk New Territories, 员;建筑物条例上诉审裁团成员及婚姻监礼 member of Panel of Adjudicators, Obscene Articles Tribunal, a 人。林先生于二零零七年十月加入本集团。 member of Buildings Ordinance Appeal Tribunal Panel and a Civil Celebrant of Marriages. Mr. Lam joined the Group in October 2007. LEE THOMAS KANG BOR 李镜波 Aged 65, Mr. Lee is an independent non-executive director and the 现年65岁,李先生为中国通商集团有限公司 chairman of the audit committee and the remuneration committee (香港股份代号:1719)之 独立非执行董事兼 and a member of the nomination committee of China Infrastructure 审核委员会及薪酬委员会主席,亦是提名委员 & Logistics Group Ltd. (HK stock code: 1719). 会成员。 Mr. Lee is a member of the Hong Kong Institute of Chartered 李先生为香港特许秘书公会及英国特许秘书及 Secretaries and the Institute of Chartered Secretaries and 行政人员公会会员,并为香港会计师公会、英 Administrators, a fellow member of the Hong Kong Institute of 国特许公认会计师公会及香港税务学会之资深 Certified Public Accountants, the Association of Chartered Certified 会员。李先生持有伦敦大学法学学士及法学硕 Accountants and the Taxation Institute of Hong Kong. Mr. Lee 士学位,亦是英国林肯法学院之大律师。彼于 graduated from the University of London with bachelor’s and 一九九九年至二零零二年间担任香港税务学会 master’s degrees in laws and was called to the Bar of the Lincoln’s 会长,于二零一二年至二零一四年担任亚洲大 Inn of United Kingdom. He served as president of the Taxation 洋洲税务师协会会长,现时担任该会之名誉顾 Institute of Hong Kong from 1999 to 2002, president of the Asia– 问,而彼现时为香港专业及资深行政人员协会 Oceania Tax Consultants’ Association from 2012 to 2014 and is 会长。李先生为瑞信国际有限公司(注册税务 now its honorary advisor, and he is serving as the president of Hong 师)之主席。李先生于二零零八年八月加入本 Kong Professionals and Senior Executives Association. Mr. Lee 集团。 is the chairman of Thomas Lee & Partners Limited, Certified Tax Advisers. Mr. Lee joined the Group in August 2008. Mr. Lee has an interest in such number of shares under Part XV of 李先生拥有本年报「董事会报告-董事于本公 the SFO as disclosed in the section headed “Report of the Directors 司及其相联法团之股份、相关股份及债券之权 – Directors’ interests in shares, underlying shares and debentures of 益」一节所披露根据证券及期货条例第XV部之 the Company and its associated corporations” of this annual report. 有关数目股份之权益。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 73 SENIOR MANAGEMENT 高级管理人员 QI JIAN HONG 綦建虹 Aged 52, Mr. Qi has over 20 years’ experience in the areas of 现年52岁,綦先生于中国拥有20年以上管理 wholesale and retail management of luxury goods in China. Mr. Qi 高档消费品批发及零售之经验。綦先生亦为本 is also the sole beneficial owner of Sparkle Roll Holdings Limited, a 公司控股股东耀莱控股有限公司之唯一实益拥 controlling shareholder of the Company. He is the younger brother 有人。彼为非执行董事綦建伟先生之胞弟。彼 of Mr. Qi Jian Wei, a non-executive Director. He is a President of film 自二零一九年二月一日起为电影部门之总裁。 division since 1 February 2019. Mr. Qi was the Honorary Advisor from 1 December 2015 to 31 綦先生自二零一五年十二月一日起至二零一七 March 2017 and then serves as the Honorary Chairman of the 年三月三十一日为荣誉顾问,之后自二零一七 Company from 1 April 2017 to 31 January 2019. 年四月一日起至二零一九年一月三十一日担任 本公司荣誉主席。 Mr. Qi was the President of the automobile dealership division 綦先生于二零零八年六月至二零一五年十一月 and watch distributorship division and was regarded as a senior 出任本集团汽车分销部门及钟表代理部门之总 management of the Group from June 2008 to November 2015. 裁,被视为高级管理人 员。綦先生亦曾担任 Mr. Qi was also a director of Cultural Investment Holdings Co., Ltd 文投控股股份有限公司(上海证券交易所股份 (Shanghai Stock Exchange stock code: 600715) until his resignation 代码:600715)之董事,直至二零一八年八月 with effect from 16 August 2018. 十六日辞任为止。 Mr. Qi has an interest in such number of shares under Part XV of the 綦先生拥有本年报「董事会报告-主要股东于 SFO as disclosed in the section headed “Report of the Directors – 本公司股份及相关股份之权益」一节所披露根 Substantial shareholders’ interests in shares and underlying shares 据证券及期货条例第XV部之有关数目股份之权 of the Company” of this annual report. 益。 74 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 LI YAT MING 李一鸣 Aged 39, Mr. Li is the Financial Controller, Company Secretary and 现年39岁,李先生为本公司财务总监、公司秘 Authorised Representative of the Company and he joined the Group 书兼授权代表,彼于二零零九年七月加入本集 in July 2009. He has over 10 years of experience in accounting, 团。彼于会计、审核、财务管理、税务及公司 auditing, financial management, taxation and company secretarial 秘书方面拥有逾10年经验。于加入本集团前, fields. Prior to joining the Group, he had served in an international 彼曾任职于国际会计师行。李先生持有香港理 accounting firm. Mr. Li holds a Bachelor of Arts (Honours) in 工大学颁授之文 学 士(荣誉)会 计学学位及持 Accountancy from The Hong Kong Polytechnic University and 有香港大学专业进修学院颁授之企业合规深造 a Postgraduate Certificate in Corporate Compliance from The 证书。彼为香港会计师公会资深会员,亦为香 University of Hong Kong School of Professional and Continuing 港证券及投资学会以及香港投资者关系协会会 Education. He is a Fellow of the Hong Kong Institute of Certified 员。 Public Accountants, and also is a member of Hong Kong Securities and Investment Institute and Hong Kong Investor Relations Association. JIA HAI TAO 贾海涛 Aged 51, Mr. Jia graduated from the master’s programme in 现年51岁,贾先生于一九九八年硕士研究生 business economics(商业经济学专业)of the Graduate School of 毕业于中国社会科学院研究生院商业经济学专 Chinese Academy of Social Sciences in 1998 and is the General 业;为本集团所属劳斯莱斯北京总经理。贾先 Manager of Rolls-Royce Beijing of the Group. Mr. Jia has held 生于一九九八年始,先后在科海集团、中美大 various senior management positions since 1998 in the fields of 都会人寿保险公司和北京耀莱国际影城管理有 sales and marketing, and in these positions, he was responsible 限公司从事计算机设备营销、寿险顾问行销和 for the marketing of computer equipment at KeHai Group*(科海 影城市场营销等高级管理工作,具备丰富的销 集团), consultancy and marketing of life insurance at Sino-US 售和市场工作经验。贾先生于二零一二年九月 MetLife Insurance Co., Ltd.*(中美大都会人寿保险公司)and film 加入本集团,曾历任本集团汽车分销部门副总 studio marketing at Beijing Sparkle Roll International Film Studio 经理,以及劳斯莱斯北京副总经理、宾利北京 Management Limited*(北京耀莱国际影城管理有限公司). Mr. Jia 副总经理和总经理。 joined the Group in September 2012 and has served in various capacities, including deputy general manager of the automobile dealership division, deputy general manager of Rolls-Royce Beijing, deputy general manager and general manager of Bentley Beijing of the Group. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 75 LIU JING JING 刘晶晶 Aged 45, Ms. Liu graduated from the Beijing University of 现年45岁,刘女士于一九九七年毕业于北京 Technology in 1997 with a Bachelor of Engineering in air- 工业大学空调与制冷专业,持有工程学士学 conditioning and cooling(空调与制冷专业)and is the Head of 位,为本集团汽车分销部门采购总监,以及本 automobile dealership division and deputy general manager 集团所属兰博基尼北京副总经理;刘女士于 of Lamborghini Beijing of the Group. Since 1997, Ms. Liu had 一九九七年始,先后在北京东安集团、世都百 been working in the area of public relations with Beijing Dongan 货和中商百货从事宣传公关工作;二零零一年 Group*(北京东安集团), Shidu Mall*(世都百货)and Zhongshang 始进入北京宾利集团任总裁助理,负责商品车 Department Store(* 中商百货).She joined the Bentley Beijing Group 辆订 单、 采购及与国外汽车厂商之沟通协调 in 2001 as assistant to president and was responsible for handling 工作近6年;刘女士二零零八年七月加入本集 commercial vehicle orders, vehicle purchase and liaison with foreign 团,曾历任集团汽车分销部门总裁助理、采购 vehicle manufacturers for nearly 6 years. Ms. Liu joined the Group in 经理。 July 2008 and has served as assistant to president and purchasing manager of the automobile dealership division of the Group. CHEN LING 陈凌 Aged 40, Mr. Chen graduated from the Beijing Institute of 现年40岁,陈先生于二零零一年毕业于北京理 Technology in 2001 with a Bachelor of Engineering in computer 工大学计算机科学专业,持有工程学士学位, science and from the University of Wollongong in Australia in 2009 二零零九年毕业于澳洲卧龙岗大学(University with a Master in Information Technology Management. He is the of Wollongong),持有信息技术管理硕士学 General Manager of B&O PLAY at Balanorm Beo (Beijing) Trading 位,为本集团附属公司衡准宝声(北京)贸易发 Development Limited, a subsidiary of the Group, and Head of the 展有限公司B&O PLAY总经理,并兼任本集团 e-commerce division of the Group. Mr. Chen has been engaging, 网络电商部总监。陈先生于二零一零年始,从 and has accumulated rich experience, in corporate management 事企业管理工作和资讯科技管理工作,具备良 and information technology management since 2010. Mr. Chen 好的工作经验。陈先生于二零一三年七月加入 joined the Group in July 2013 and was assistant to president of the 本集团,曾历任集团汽车分销部门总裁助理、 automobile dealership division of the Group and training manager of 衡准宝声(北京)贸易发展有限公司B&O PLAY B&O PLAY at Balanorm Beo (Beijing) Trading Development Limited. 培训经理。 QU JING 曲晶 Aged 38, Ms. Qu graduated from the undergraduate programme in 现年38岁,曲女士于二零零一年大学本科毕业 fashion design and performance of the Beijing Institute of Fashion 于北京服装学院「服装设计与表演专业」,为本 Technology in 2001 and is the General Manager of the Group’s 集团所属耀莱尊荣会总经理。曲女士自毕业后 Sparkle Roll Honor Club. Ms. Qu has been engaging in the sale of 从事宾利品牌汽车销售工作多年,于二零一零 Bentley vehicles for various years after graduation and later joined 年六月加入本集团,曾历任本集团红酒部销售 the Group in June 2010. Prior positions at the Group include Head 总监、耀莱新天地(华贸店)销售总监、劳斯莱 of the sales department of the wine division, Beijing Sparkle Roll 斯(北京)销售总监,在本集团各品类产品交叉 Luxury World (Hua Mao) and Rolls-Royce Beijing of the Group. She 销售和VIP客户关系维护方面拥有丰富的经验。 has extensive experience in cross-selling of various product lines of the Group and handling VIP relations. 76 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 CHENG BIN 程彬 Aged 48, Ms. Cheng graduated from the Kwantlen Polytechnic 现年48岁,程女士于二零零八年毕业于加 University i n Canada i n 2008 with a Bachelor o f Business 拿大昆特兰理工大学(Kwantlen Polytechinc Administration in Accounting. She also is the Chartered Professional University)会计学专业,持有工商管理学士 Accountant, Certified General Accountant (CPA,CGA). Ms. Cheng 学位。她亦是特许专业会计师,注册会计师 currently is the assistant operating director and Head of the fine (CPA, CGA),程女士现为本集团助理运营总监 wine division of the Group. She had served as auditor and financial 及红酒部总监。她于二零零八年始,先后在加 controller at BDO Canada and Canada JinBi International Limited* 拿大BDO会计师事务所、加拿大金碧国际有限 since 2008. She joined the Group in March 2013 and held the 公司 *从事审计师和财务总监工作。她于二零 position as the Head of the watch and jewelry division and the Head 一三年三月加入本集团任职钟表珠宝部总监和 of the marketing and media division of the Group. 市场传媒部总监。 WEN QI 温琦 Aged 43, Mr. Wen graduated from Training School of Beijing 现年43岁,温先生二零零五年大专毕业于 Communist Party Committee with a college degree in 2005. He 北京市委党校经济管理专业,现任集团所属 is currently the General Manager of Bentley Tianjin, a subsidiary 宾利天津总经理;温琦先生于二零一一年五 of the Group. Mr. Wen joined Sparkle Roll Group in May 2011 月加入耀莱集团,历任集团北京总部行政助 and has since held several positions in the Group, including the 理、集团所属品牌汽车售后维修服务中心副 executive assistant of Beijing headquarter of the Group, deputy 经理兼车间主任、集团所属宾利天津副总经 manager and workshop director of branded automobile aftersales 理兼销售经理;温琦先生加入集团7年来,经 service division of the Group, the deputy general manager and 过多个岗位历练,具备较好的职业背景和豪 sales manager of Bentley Tianjin, a subsidiary of the Group. During 华汽车售后维修服务管理经验及宾利汽车的 the seven years since joining the Group, Mr. Wen has served in 销售管理经验。 various capacities and possesses professional background and after-sales maintenance service management experience for luxury automobiles and sales management experience for Bentley automobiles. * for identification purpose only * 仅供识别 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 77 ABOUT THE REPORT 有关本报告 With a mission to build a kingdom of luxury goods dealerships and 我们的业务初始宗旨为建立奢侈品分销王国, act as the leader to develop the PRC luxury goods market at its full 致力于担任开发中国奢侈品市场发展龙头企 speed, the Group recognises that it is vital to integrate the principles 业。本集团认识到将可持续原则纳入业务营运 of sustainability into the business operations with an aim to achieve 至关重要,旨在实现企业盈利、令雇员及股东 corporate profitability, maximise positive returns to our employees 的正面回报最大化并推动社会可持续发展。 and shareholders, and promote the sustainable development in the society. The Group is pleased to publish our third environmental, social 本集团欣然刊登第三份环境、社会及管治(「环 and governance (“ESG”) report (the “Report”) and communicate 境、社会及管治」)报 告(「报告 」), 及与持份 the practices and initiatives of the Group’s ESG management with 者就本集团在环境、社会及管治方面的管理进 our stakeholders. The Report has been prepared in accordance 行沟通。报告乃根据香港联合交易所有限公司 with the “Comply or explain” Provisions of the Environmental, 证券上市规则附录二十七所载环境、社会及管 Social and Governance Reporting Guide under Appendix 27 to the 治报告指引(「 联交所环 境、 社会及管治报告 Rules Governing the Listing of Securities on The Stock Exchange 指引」)的「不遵守就解释」条文予以编制。报 of Hong Kong Limited (“HKEx ESG Reporting Guide”). The scope 告的范围专注于本集团的核心业务营运-在北 of the Report focuses on the Group’s core business operation — 京及天津提供超豪汽车分销及售后服务,并涵 the dealerships of ultra-luxury automobile with after-sale services 盖自二零一八年四月一日起至二零一九年三月 provision in Beijing and Tianjin and covers the period from 1 April 三十一日的期间(「报告期」)。本报告已由董事 2018 to 31 March 2019 (the “Reporting Period”). The Report 会审阅及批准。 has been reviewed and approved by the board of directors (the “Board”). The Group values your feedback and welcomes to receive your 本集团重视 阁下的反馈,如对报告有任何意 opinions on the Report via email at info@hk970.com. 见,欢迎通过电邮地址(info@hk970.com)与我 们联系。 78 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 STAKEHOLDER ENGAGEMENT AND 持份者参与及重要性评估 MATERIALITY ASSESSMENT The Group is dedicated to maintaining open and constant 本集团致力于透过各种方式与持份者保持开放 communication with our stakeholders through various channels 及持续沟通,以分享彼等有关公司发展的意见 for sharing their opinions and suggestions in respect of the 及建议,以及妥善处理彼等与业务营运有关的 corporate development, as well as properly addressing their needs, 需要、期望及╱或关注。 expectations and/or concerns relevant to its business operations. The table below indicated the major types of stakeholders 下表列示本集团已识别的持份者的主要类型及 identified by the Group and the communication channels with the 与持份者的沟通方式: stakeholders: Types of stakeholder group Communication channels 持份者组别类型 沟通方式 Investors & Shareholders Corporate website 投资者及股东 公司网站 Annual General Meeting 股东周年大会 Annual and Interim Reports 年报及中期报告 Corporate announcements 公司公告 Customers Corporate website 客户 公司网站 Annual and Interim Reports 年报及中期报告 Feedback from customers 客户反馈 Employees Training and orientation 雇员 培训及指导 Intranet and opinion box 内联网及意见箱 Regular meetings and performance review 定期会议及表现检讨 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 79 Suppliers & Business Partners Procurement process 供应商及业务伙伴 采购流程 Regular communication with business partners (e.g. email, meetings, on-site visit etc.) 与业务伙伴进行定期沟通(例如电邮、会面、实地拜访等) Government Authorities and Regulators Documented information submission 政府部门及监管机构 提交文件资料 Forums, conferences and workshops 论坛、会议及研讨会 Communities Corporate website 社区 公司网站 Community participation 社区参与 Media Corporate website 媒体 公司网站 Corporate announcements 公司公告 Interviews and networking platforms 访谈及网络平台 80 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 To understand and identify the material ESG issues for the 为了解及确认本集团环境、社会及管治之重大 Group and formulate the direction of the Report, the Group has 议题及制定报告的方向,本集团已委托独立顾 commissioned an independent consultant who carried out a 问,其将透过在线问卷调查展开重要性评估, materiality assessment through an online questionnaire to determine 以确定对本集团有重大影响的环境、社会及管 the ESG topics that greatly influenced the Group. The Group’s 治议题。本集团的持份者(包括董事会、雇员 stakeholders, including the Board, employees and business 及业务伙伴等)获邀请填写在线问卷调查并分 partners etc., were invited to fill in an online questionnaire and rate 别就关于本集团的业务营运及持份者本身的27 the importance of 27 ESG topics towards the Group’s business 个环境、社会及管治议题的重要性作出评价。 operations and stakeholders themselves respectively. The collected 所收集结果用于分析各环境、社会及管治议题 results were used to analyse the degree of the materiality of each 的重要程度及所得出重要性矩阵列示如下。显 ESG topics and the materiality matrix plotted is presented below. 示在矩阵右上角的议题界定为对本集团的业务 The topics fell in the upper right corner of the matrix were defined as 营运最重要及持份者最为关切的议题。 the topics that matter most to the Group’s business operation and are concerned by our stakeholders. Materiality Matrix Medium Priority 重要性矩阵 High Priority 中优先级 高优先级 25 22 18 23 26 19 21 20 8 15 24 17 11 9 14 7 27 10 5 12 13 6 16 4 3 2 1 Low Priority Medium Priority 低优先级 中优先级 Significance to the Group’s Business & Operation 对本集团业务及经营的重要性 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 81 Social Environment 社会 环境 Employment Operation 雇佣 经营 1. Air emission 9. Labour rights 18. Customer satisfaction 1. 空气排放 9. 劳工权利 18. 客户满意度 2. Greenhouse gas emission 10. Labour-Management relations 19. Customer service quality & 2. 温室气体排放 10. 劳资关系 complaints handling 3. Climate change 11. Employee retention 19. 客户服务质量及投诉处理 3. 气候变化 11. 挽留雇员 20. Customer health and safety 4. Energy efficiency 12. Diversity and equal opportunity 20. 客户健康及安全 4. 能源效益 12. 多元化及平等机会 21. Marketing and product and 5. Water & effluents 13. Non-discrimination service labelling compliance 5. 水及废水 13. 非歧视 21. 营销及产品以及服务标签合规 6. Use of materials 14. Occupational health and safety 22. Intellectual property 6. 材料使用 14. 职业健康及安全 22. 知识产权 7. Waste management 15. Employee training 23. Customer privacy and data 7. 废弃物管理 15. 雇员培训 protection 8. Environmental compliance 16. Employee development 23. 客户私隐及资料保护 8. 环境合规 16. 雇员发展 24. Responsible supply chain 17. Prevention of child labour & management forced labour 24. 负责任的供应链管理 17. 禁用童工及强制劳工 25. Business ethics 25. 商业道德 26. Socio-economic compliance 26. 社会经济合规 Community 社区 27. Community investment 27. 社区投资 From the results of materiality matrix, it was identified that our focus 从重要性矩阵结果可以看出,我们的重点在产 should be placed on the products and services responsibility, labour 品及服务责任、劳工权利、挽留雇员及雇员培 rights, employee retention and employee training. The Group will 训方面。本集团将定期检讨环境、社会及管治 review the existing approaches of ESG management regularly and 管理的现有方法及制定相应的环境、社会及管 devise the corresponding ESG strategies, policies and targets, as 治策略、政策及目标,以及寻求持续改善以回 well as looking for opportunities for continuous improvements to 应持份者的期望。 response to the expectations of its stakeholders. 82 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 QUALITY PRODUCTS AND SERVICES 优质产品及服务 The Group is committed to offering products with quality customer 本集团致力于通过提升客户体验,更好地了解 services and after-sale services to our customers, by enhancing 及满足其个性化需要,为客户提供优质客户服 the customer experience, better understanding and fulfilling 务及售后服务,以维持良好的客户关系及赢得 their personalised needs, in order to maintain good customer 彼等信任及忠诚度。 relationships and gain their trust and loyalty. Products responsibility 产品责任 The Group is the authorised auto distributor of various ultra-luxury 本集团为各种超豪汽车品牌(如宾利、兰博基 automobiles brands, namely Bentley, Lamborghini and Rolls- 尼及劳斯莱斯)的授权汽车经销商。 作为全球 Royce. Being the top luxury car brands in the world, the brands are 顶级豪华汽车品牌,该等品牌致力奉行环保及 committed to environmental protection and social responsibility. 社会责任。 因此,设有严格的产品质量保证程 Hence, the product quality is of strict quality assurance process 序,以保障客户的健康及安全,及所有产品须 to safeguard the customer health and safety, and all products 符合当地法律法规,包括《强制性产品认证管 should meet the local laws and regulations, including the Regulation 理规定》。 Concerning Management of Compulsory Product Certification 《( 强 制性产品认证管理规定》). During the Reporting Period, a second appeal of civil litigation (First 于报告期内,天津附属公司就已交付产品的质 Litigation)1 was identified in Tianjin subsidiary regarding the quality 量确定第二次民事诉讼上诉(第一诉讼)1。本 of a delivered product. This case was concluded and reached 案已于二零一八年十二月与原告达成和解。上 a settlement with the plaintiff in December 2018. The Appeal 诉判决已撤销,原告撤回第一诉讼中的所有申 Judgment was revoked and the plaintiff’s withdrawal of all claims in 索均获得天津市第一中级人民法院的许可。本 the First Litigation was permitted by the First Intermediate People’s 集团已审阅其已交付产品及服务对财务状况、 Court of Tianjin City. The Group reviewed its impact on the financial 日常经营及质量保证的影响并确认对本集团并 position, ordinary operation and quality assurance on delivered 无重大影响。为防止类似事件再次发生,本集 products and services and confirmed that there was no significant 团要求天津客户在销售交易完成前签署「交付 impacts on the Group. In order to prevent the recurrence of the 前检验确认书」,以确保就产品质量检查的交 similar case, the Group requires customers in Tianjin need to sign a 付前检验程序与客户进行良好沟通并妥善执 “Pre-delivery Inspection Acknowledgement” before the completion 行。 of sales transaction to ensure that the pre-delivery inspection procedure for product quality checking is well-communicated with the customers and properly executed. 1 Please refer to the corporate announcement of litigation update dated 28 1 有关更多详情,请参阅本公司日期为二零一八年 December 2018 for more details. 十二月二十八日的诉讼最新情况公告。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 83 Customer services 客户服务 The Group is dedicated to delivering customer-centric services 本集团致力于为客户提供以客户为中心的服 to our customers. Regarding to achieve this objective, the Group 务。为达致此目标,本集团已制定销售管理程 has formulated a Sales Management Procedure with the required 序,详载前线同事及销售人员于销售周期内提 services standards and manners for our frontline colleagues 供所需的服务标准及方式。例如,本集团要求 and salesmen to follow in the sale lifecycle. For instance, the 员工以礼貌、友好及热情的方式接听客户来电 Group requests our staff to receive customer calls and visits in a 及接待到访客户,保持展厅及售后服务中心整 polite, friendly and passionate manner, maintain the cleanliness 洁及舒适,以专业知识详细介绍各种品牌的汽 and comfort of the showrooms and after-sale services centres, 车产品(例如汽车车身尺寸及结构、外观及内 introduce the automotive products with various brands in details 饰特征以及不同系列的细分比较),并以正确 with professional knowledge (e.g. automobile body dimensions and 的商务礼仪回答客户提出的问题,以给客户留 structure, highlights of exterior and interior features and segment 下深刻印象。此外,员工要时常关心客户并了 comparison of different series), and answer the questions from our 解彼等的现有及潜在需要,在交易完成后定期 customers correctly with business etiquette in order to leave an 致电或造访客户,并在客户生日及农历新年等 impressive impression to our customers. Besides, to constantly care 特殊节日致以诚挚的问候,以便本集团可与现 for our customers and understand their existing and potential needs, 有客户保持良好而密切的互动,从现有客户中 our staff carry out regular calls or interviews with our customers 发掘潜在新客户并通过我们卓越的客户服务树 after the deal and offer sincere greeting in special festivals such 立品牌声誉。 as birthday and Lunar New Year, so that the Group can maintain a good and close interaction with our existing customers, explore potential new clients from our existing customers and establish the branding reputation through our prominent customer services. Apart from the sale of automotive, the Group also provides quality 除销售汽车外,本集团亦为客户提供优质的汽 auto after-sale services for the customers. Our after-sale services 车售后服务。我们的售后服务主要包括汽车维 mainly cover the automobile repair and maintenance, sales of auto 修、汽车零部件及其他相关汽车产品的销售。 components and other related auto products. With the provision of 透过进行高效汽车维修的技术诊断并提供量身 efficient technical diagnosis on automobile repair with tailor-made 定制的维护计划和增值服务,本集团不仅积极 maintenance plans and value-added services, the Group strives not 引领优质客户体验、最大化客户价值,还致力 only to lead a great customer experience and maximise customer 于实现客户满意度及挽留客户,从而加强本集 values, but also to achieve customer satisfaction and customer 团与客户之间的联系。 retention and hence strengthen the bond between the Group and customers. 84 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Customer complaint handling 客户投诉处理 The Group learns to take the customer feedback and complaints 本集团以客户反馈及投诉为契机,更深入地了 as an opportunity to understand their needs and expectations in a 解彼等的需要及期望,并找出我们的客户服务 better way and to identify our gap and shortfalls of our customer 的差距及不足,因此,本集团可不断改善我们 services, thus the Group can make continuous improvements in 的服务,与客户建立更强大及长期的关系。 our services and build a stronger and long-lasting relations with the customers. Upon the receipt of complaints from customers, whether through 收到客户投诉后,无论有关投诉通过电话热 the channels of customer hotline, emails or in person at showrooms 线、电子邮件或亲临展厅或售后服务中心等渠 or after-sale services centres, the person-in-charge of the relevant 道提出,相关部门负责人将会遵循既定投诉管 department will follow the established complaint management 理程序进行核实及确认投诉事宜,及时提供满 procedure to verify and confirm the complaint issues, to offer 意的解决方案,并追踪客户对我们解决问题表 satisfactory solution(s) in a timely manner as well as tracking the 现的满意度。客户投诉的记录将妥善保存,并 customer satisfaction on our performance of the problem resolution. 作为检讨现有销售管理流程及厘定改善领域的 The records of the customer complaints are properly recorded 指标之一,以持续优化客户服务及提高客户满 and served as one of the indicators for reviewing the existing sales 意度。 management process and determining areas of improvement for continuously optimising our customer services and enhancing the customer satisfaction. Managing our suppliers 管理供应商 Building up close and long-term relationships with our suppliers 与供应商建立长期密切的关系可加强本集团在 can strengthen the sustainable development of the Group 业内的可持续发展。本集团拥有标准化的采购 in the industry. The Group has a standardised procurement 管理制度,以规管供应商管理及采购流程。为 management system in place to govern the supplier management 在采购过程中选择有能力及可靠的材料及设备 and procurement process. In order to select capable and reliable 供应商,本集团将通过审查记录资料(包括但 suppliers for materials and equipment in the procurement process, 不限于商业登记许可证、税收注册证、特殊生 the Group will conduct thorough examinations on the qualifications 产许可证、产品质量证书、年度审核证书、产 and competency of the potential suppliers, by the review of the 品质量检验报告)对潜在供应商的资质及能力 documented information including but not limited to business 进行全面检查。能满足我们要求的供应商方可 register licenses, tax registration certificates, special production 成为我们的合资格供应商。 licenses, product quality certificates, annual audit certificates, product quality inspection reports. Suppliers who can fulfil our requirements can become our qualified suppliers. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 85 With an aim to create fair and open competitions for suppliers, the 为给予供应商公平公开的竞争环境,本集团采 procurement department of the Group conducts market research 购部进行市场调研及索取至少三份或以上报价 and price comparison with at least three or more quotations, in 的价格比较,以优化采购成本,同时确保我们 order to optimise the purchasing cost and simultaneously to ensure 日常营运的产品质量。就汽车零部件而言,本 the product quality for our daily operation. For the automobile 集团主要从授权品牌的原厂或固定采购网点采 components, the Group mainly purchases goods from the original 购商品,以保证产品的质量及安全。本集团将 factories or fixed purchase outlets of the authorised brands to 评估供应商在交付产品时的表现,例如产品质 guarantee the products quality and safety. The Group will assess 量、质量控制、售后服务及准时交货等。本集 the suppliers’ performance upon their delivery of the products such 团将终止与产品质量不理想及表现欠佳的供应 as the product quality, quality control, after-sale service and the 商的业务往来。 punctuality of delivery etc. The Group will discontinue the business dealings with the suppliers who are with dissatisfactory products quality and underperformance. Likewise, to uphold the highest standard of business integrity in 同样,为了在我们的业务交易中坚持最高标准 our business dealings, our employees and our business partners 的商业诚信,雇员与业务伙伴之间严禁提供或 are strictly prohibited to offer or accept any benefits such as gifts, 接受礼品、佣金及娱乐等任何福利以获得任何 commission and entertainment among each other in order to obtain 个人利益。 any personal advantages. ACT WITH INTEGRITY 诚信行事 The success of the Group is built on the trust with our customers, 本集团的成功建立在与客户、供应商、业务伙 vendors, business partners and the community. Upholding the 伴及社区的信任基础之上。坚持诚信道德对获 moral of integrity is critical to gain their trusts and thus sustain our 得彼等的信任至关重要,从而得以维持我们的 long-term business growth. The Group is committed to standing 长期业务增长。本集团致力于反对任何贪污行 against any corruption practices such as bribery, fraud and money 为,例如我们营运中的贿赂、欺诈及洗黑钱。 laundering in our operations. Anti-corruption 反贪污 As stipulated in the staff handbook, employees are required to 诚如员工手册所规定,雇员必须遵守行为准则 adhere to the code of conduct and demonstrate sound moral and 及在工作中表现出良好的道德及商业操守,以 business ethics at work, as well as complying with relevant national 及遵守相关国家法律法规,如《中华人民共和 laws and regulations such as the Anti-Unfair Competition Law of the 国反不正当竞争法》及《中华人民共和国反垄 People’s Republic of China (“PRC”) and the Anti-monopoly Law of 断法》。本集团严禁雇员提供及╱或接受任何 the PRC. The Group is strictly prohibited our employees offer and/ 福利,如礼物、回扣及佣金等。倘雇员有任何 or accept any benefits such as present, kickbacks and commissions 不法行为,彼等将面临纪律处分,包括在本集 etc. In any event of unlawful acts performed by our employees, 团检查及确认相关行动后立即终止雇佣。于报 they are subject to the disciplinary actions, including immediate 告期内,本集团并不知悉任何违反有关贿赂、 employment termination, after the inspection and confirmation of 勒索、欺诈及洗黑钱的相关法律法规。 such acts by the Group. During the Reporting Period, the Group was not aware of any breaches of relevant laws and regulations relating to bribery, extortion, fraud and money laundering. 86 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Privacy protection 私隐保护 To protect intangible assets of the Group as well as the privacy of 为保护本集团的无形资产以及客户及雇员的私 our customers and our employees, the Group has strict internal 隐,本集团对信息收集及存取设有严格的内部 control for information collection and access, and has complied 监控,并已遵守《中华人民共和国消费者权益 with the relevant laws and regulations such as Law of the PRC on 保护法》等相关法律法规。例如,本集团仅根 the Protection of Consumer Rights and Interests. For instance, 据各品牌的销售交易规定收集及使用必要的客 the Group only collects and uses the essential customer personal 户个人信息。客户必须签署客户个人资料私隐 information pursuant to the requirements of various brands for sale 声明,以确保彼等同意以合法权利收集、 使 transaction. A declaration of customer personal information privacy 用、储存、转移及披露个人资料。包含所收集 statement must be signed with our customers accordingly to ensure 客户资料的会员资料仅由授权人员保留,并储 they have consent to the collection, usage, storage, transfer and 存在系统中,设有多层密码登录,以保护客户 disclosure of personal information with their legitimate rights. The 资料的安全。严格禁止全体雇员向第三方转移 member profiles with the collected customer information are only 及╱或披露客户资料。此外,对于本集团的保 reserved by authorised persons and stored in the system with multi- 密资料(例如商业秘密、雇员个人资料、业务 layer password login to protect the security of customer information. 及销售资料以及知识产权等),雇员必须遵守 All our employees are strictly prohibited to transfer and/or disclose 内部规则处理机密信息,以防止丢失、误用、 the customer data to third parties. In addition, for the confidential 泄漏及╱或在本集团以外披露此类资料。对不 information of the Group (e.g. trade secrets, employee personal 遵守规则的雇员将面临纪律处分,包括终止雇 data, business and sales data and intellectual properties etc.), 佣合同。 employees are required to follow the internal rules for confidential information handling to prevent loss, misuse, leakage and/or disclosure of such information outside the Group. Employees for non-compliance with the rules are subject to disciplinary actions including termination of employment contract. During the Reporting Period, the Group was not aware of any 于报告期内,本集团并不知悉任何违反有关私 breaches of relevant laws and regulations relating to the privacy 隐事项及保密性的相关法律法规。 matter and confidentiality. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 87 EMPLOYEE CARING 关爱员工 Our employees are the integral part of fostering the sustainable 雇员是促进本集团可持续业务发展及增长的 business development and growth of the Group. In adherence to the 重要组成部分。本集团秉承「诚信、守信、创 spirit of “Integrity, trustworthy, innovative and excellent”, the Group 新、卓越」的精神,致力于为雇员创造安全、 strives to create a safe, motivating and inclusive workplace to our 激励及包容的工作场 所, 让雇员享受公平竞 employees, who can enjoy fair competition, free of discrimination, 争、免受歧视、事业成长、个人发展及互相信 career growth, personal development and mutual trust. 任。 Employment practices 雇佣惯例 The Group has established a management system in formulating the 本集团已根据其劳工政策建立管理制度,以制 employee remuneration and benefits package in accordance with its 定员工薪酬及福利待遇。全职雇员的福利包括 Labour Policy. Benefits to full-time employees include basic salary, 基本薪金、假期(如婚假、产假、侍产假及恩 holidays (e.g. marriage leaves, maternity leaves, paternity leaves 恤假)、休息期,保险保障(如五险一金)、加 and compassionate leaves etc.), rest periods, insurance coverage 班补偿及津贴等,符合《中华人民共和国劳动 (e.g. five social insurance schemes and one fund), overtime 法》及《中华人民共和国劳动合同法》等相关 compensation and allowances etc., which are complied with the 国家法律法 规, 并载入劳动合同及员工手册 relevant national laws and regulations such as the Labour Law of the 中。本集团为雇员设定标准工时,尽量避免让 PRC & the Labour Contract Law of the PRC and communicated in 员工加班。在任何情况下,加班工作乃属自愿 our labour contract and staff handbook. The Group sets standard 性质且必须征得管理层的事先批准。本集团亦 working hours for employees and minimises overtime work for 在工作场所为女性雇员提供母乳喂哺休息时 our staff. In any event, overtime works are on a voluntary basis 间,并遵守有关法律法规以保护女性雇员的福 and prior approval from the management must be sought. The 祉。为激励雇员及提升彼等的工作热诚,本集 Group also provides breastfeeding breaks for female employees 团亦定期进行员工薪酬检讨及分析,以确保员 in the workplace abided by the relevant laws and regulations for 工在平衡市场竞争力、组织营商条件及个人表 protecting the well-being of female employees. In order to motivate 现的情况下获得具竞争力的回报。具有良好表 the employees and enhance their work passion, the Group also 现及成就的雇员将获得花红。 conducts regular staff remuneration review and analysis to ensure our employees are rewarded competitively with a balance of market competitiveness, organisational business conditions and individual performance. The bonus will be granted to the employees who have good performance and achievement. The Group upholds the principle of fairness and openness in 本集团在招聘、雇员绩效考核及晋升、调职及 the recruitment, employee performance review and promotion, 解雇过程中坚持公平公开的原则。 本集团在作 transferral and dismissal process. The Group merely takes 出决策时,仅考虑候选人的个人表现、经验、 candidate’s individual performance, experience, competency and 能力及潜力,严禁任何性别歧视。 同样,屡次 potentials as the only factors for consideration and decision-making, 违反公司规则及╱或表现欠佳的个别雇员可能 and any gender discrimination is strictly prohibited. Likewise, the 遭到解雇。 individual employees who repeatedly violate the company rules and/ or are underperformed could result in the dismissal. 88 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 In protecting of the human rights and freedom, the Group has 为保障人权及自由,本集团对在其工作场所使 zero tolerance on the use of child labour and forced labour in our 用童工及强制劳工零容忍。人力资源部将在雇 workplace. Our human resources department will carry out identity, 用员工前进行身份、资历及过往工作背景核 qualifications and job reference checks to examine the age and job 查,以检查所有申请人的年龄及工作资格。全 eligibility of all applicants before the employment. All employees 体雇员同意并自愿与本集团签订雇佣合约,并 sign the employment contract consensually and voluntarily with 可在给予通知期后自由离职。 the Group and they are free to leave the existing position upon the required notice. During the Reporting Period, the Group was not aware of any 于报告期内,本集团并不知悉任何违反有关薪 breaches with relevant national labour laws and regulations relating 酬及解雇、招聘及晋升、工时、休息期、平等 to compensation and dismissal, recruitment and promotion, working 机会、多元化、反歧视以及其他待遇及福利或 hours, rest periods, equal opportunity, diversity, anti-discrimination, 使用童工及强制劳工的相关国家劳动法律法 and other benefits and welfare or the use of child and forced labour. 规。 Training and development 培训及发展 The growth and success of the Group is underpinned by the strong 本集团的增长及成功以强大的人才队伍为支 and talented workforce. The Group places emphasis on employee 柱。本集团注重员工培训及事业发展机会,培 training and career development opportunities to and nurture their 养其潜力以满足不断变化的商业环境及营运需 potentials to meet the evolving change of the business environment 要。 and operational needs. In order to maintain a reasonable and prospective career ladder for 为了维持合理及有前景的事业阶梯以挽留人 talent retention, the Group prioritises the internal staff promotion 才,于出现职位空缺时,本集团于对外招聘之 before external recruitment when there are job vacancies. In 前会优先提拔内部员工。此外,本集团已将职 addition, the Group has categorised the job position in different 位分类为不同等级并在员工晋升方面按照既定 grades and followed the pre-determined criteria and principles in 的标准及原则进行,以确保用人唯才,所有员 staff promotion, to ensure all the employees have fair and equal 工获得公平及平等机会进行竞争,以提升员工 opportunities for competition as well as placing the right person at 士气及生产力。 the right position for enhancing the staff morale and productivity. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 89 The Group offers an induction training for all new employees, by the 本集团向所有新员工提供入职培训,透过介绍 introduction of the corporate historical development, culture and 公司历史发展、文化及业务目标、内部规章制 business goals, internal corporate rules and regulations, employee 度、员工福利及待遇、行为准则以及有关日常 welfare and benefits, code of conduct as well as relevant basic 营运的相关基本知识,令新员工迅速适应新的 knowledge on daily operation, so that the new staff can swiftly adapt 工作环境。此外,本集团定期向不同岗位的在 to the new working environment. Besides, the Group provides a 职员工(例如前线销售员、售后服务中心员工 wide range of in-house training courses and programmes (e.g. legal 及管理层人员)提供一系列内部培训课程(例如 compliance and latest update of laws and regulations, services 法律合规及法律法规的最新资讯、各种汽车品 operation systems of various auto brands, techniques of after- 牌的服务营运系统、售后汽车诊断技术、汽车 sale automobile diagnosis, knowledge on automobile features and 特点及功能知识、领导才能及沟通技巧等), functions, leadership and communication skills etc.) regularly for the 以确保彼等可掌握新技能及充足的知识,提升 existing employees at different positions such as frontline salesmen, 工作满意度及增强工作能力。合资格员工可获 after-sale services centre staff and managerial staff to ensure they 得赞助,参加专业的外部培训,以获得与现时 can attain new skills and sufficient knowledge in enhancing job 职位工作相关的最新专业知识及创新技术及工 satisfaction and capability. The eligible employees are entitled to 具,从而通过知识共享增强本集团于行业内的 sponsorship for attending specialised external training, with an 整体竞争优势。 aim to acquire the latest professional knowledge and innovative technique and tools related to the current job duties, and hence strengthen the overall competitive edges of the Group in the industry by knowledge sharing. Occupational health and safety 职业健康及安全 The Group is committed to maintaining a safe working environment 本集团致力为雇员维持安全的工作环境。本集 for our employees. The Group has established a safety management 团已根据适用法律法规(即《中华人民共和国 system in accordance with the applicable laws and regulations 安全生产法》和《中华人民共和国职业病防治 (i.e. the Work Safety Law of the PRC and the Law of the PRC on 法》)建立安全管理体系,以规管在我们的工 Prevention and Control of Occupational Diseases) to govern the 作场所的整体职业健康与安全的执行情况及表 overall occupational health and safety execution and performance in 现。 our workplace. 90 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 The Group has formulated a series of safety operational procedures, 本集团已制定一系列安全操作程序、工作指引 working guidelines and safety initiatives for our staff to follow in 及安全措施供员工在日常操作中遵守,以及提 daily operation, as well as providing suitable personal protective 供合适的个人防护装备,以保障员工免受职业 equipment (“PPE”), in order to protect our employees from 安全危害及风险并避免与工作有关的事故或伤 occupational safety hazards and risks and avoid work-related 害。关于从事专门及高风险工作的工人,彼等 accidents or injuries. For workers engaged in specialised and high- 必须参加相应的培训并在工作之前获得合资格 risk activities, they must attend corresponding training and certified 人士认证。至于售后服务中心进行喷漆及钣金 as a qualified person prior to the work operation. For the workers 加工的工人,必须至少每年进行一次职业健康 who are in operation of paint spraying and panel beating in our after- 检查,以监测彼等的健康状况。本集团亦为工 sale services centres, they are required to conduct occupational 作风险较高的工人提供额外补贴。 health check-up at least once a year to monitor their health conditions. The Group also provides additional subsidies to workers whose work is at higher risk. The Group offers regular occupational health and safety training 本集团定期提供职业健康及安全培训计划,包 programmes, including the introduction of the safety management 括安全管理系统简介、职业健康及安全的法律 system, legal requirements on occupational health and safety, the 规定、个人防护装备的使用、油漆喷涂操作的 use of PPE, working guidelines and precautionary steps on paint 工作指引及预防措施等,以提高雇员的安全意 spraying operation etc., to the employees in order to increase 识以及在经营活动中充分注意已识别的潜在危 the safety awareness among our employees as well as paying 险。此外,本集团已制定紧急应变程序,明确 full attention to the identified potential hazardous exposures 界定不同部门及人员的责任。定期安排紧急应 during the operational activities. In addition, the Group has 变演习(例如化学品泄漏演习及消防演习),让 developed the emergency preparedness procedure with clearly 雇员学懂应急处理技能。 defined responsibility of different departments and personnel. The emergency drills (e.g. chemical spillage drills and fire drills) are arranged on a regular basis to equip our employees the skills on emergency handling. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 91 Safety promotion on safety production 安全生产的安全推广 In supporting of the safety promotion activity in Beijing Economic 为支持北京经济技术开发区的安全推广活动, Technological Development Area, the Group’s Beijing stores and 本集团的北京店及售后服务中心于二零一八年 after-sale services centres organised a safety production month in 六月组织安全生产月。除提供有关安全管理的 June 2018. Apart from providing safety refresher training related 安全进修培训及增加识别潜在安全风险的安全 to safety management and increase the frequency of safety 检查频率外,本集团亦邀请外界组织为雇员提 inspections on identifying potential safety risks, the Group also 供急救培训并开展应急演习,以检查现有应急 invited an external organisation to provide first-aid training to 准备程序的有效性。该活动旨在提升工作安全 our employees and carried out emergency drills for reviewing the 的重要性,培养工作场所安全至上的文化及提 effectiveness of the existing emergency preparedness procedure. 升雇员的安全意识。 The activity aims to promote the importance of safety at work, cultivate a safe-oriented culture in our workplace and enhance the safety consciousness of our employees. During the Reporting Period, the Group was not aware of any non- 于报告期内,本集团并不知悉任何违反有关职 compliance with laws and regulations relating to occupational health 业健康及安全的法律法规。 and safety. 92 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 ENVIRONMENTAL PROTECTION 环境保护 The Group recognises the corporate responsibility in environmental 本集团深知在环境保护方面的企业责任并致力 protection and is committed to minimising the adverse impacts 于尽量减少对环境的不利影响及以负责任的方 on the environment and utilising the resources in the responsible 式利用资源。本集团采取不同措施确保遵守适 manner. The Group has adopted different measures to ensure 用的环境法律法规(例如《中华人民共和国环 the compliance with the applicable environmental laws and 境保护法》、《中华人民共和国大气污染防治 regulations (e.g. The Environmental Protection Law of the PRC, the 法》、《中华人民共和国水污染防治法》及《中 Atmospheric Pollution Prevention and Control Law of the PRC, the 华人民共和国固体废物污染环境防治法》等) Water Pollution Prevention and Control Law of the PRC and The Law 及减少营运产生的排放、废水排放及废弃物对 on Prevention of Environmental Pollution Caused by Solid Waste of 环境造成的重大影响。于报告期内,本集团并 the PRC etc.) and reduce the significant impacts of the emissions, 不知悉任何违反相关国家环境法律法规。 wastewater discharge and waste generation on the environment arising from our operations. During the Reporting Period, the Group was not aware of any breaches with relevant national environmental laws and regulations. Managing our emissions 管理排放量 Considering the business nature of the Group — the provision of 鉴于本集团的业务性质—提供汽车特许经销商 automobile dealership and after-sale services, including auto part 及售后服务,包括汽车零件销售、汽车维护及 sales, auto repair and maintenance, the Group has appropriate 保养,本集团设有合适的减缓措施以管理经营 mitigation measures in place to manage the key environmental 过程中的关键环境因素—废气排放及固体废弃 aspects — air emissions and solid waste handling throughout our 物处理。 operations. Volatile organic compounds (“VOCs”) and the dusty exhausted gas 挥发性有机化合物及多尘废气是售后服务中心 are the major types of the air emission generated in the process 分别在工艺涂料喷涂及车身研磨和抛光过程中 paint spraying and the process of grinding and polishing of the 产生的主要气体排放类型。为尽量减少喷漆过 vehicle body respectively in after-sale services centres. To minimise 程中的气味及漆雾排放至大气中,工程仅在指 the odour and the paint mist emitted to the atmosphere by the 定隔间内进行并配有适当设计的空气处理设 paint spraying, the works can only be carried out in a designated 施,如带有活性碳吸收剂及紫外光催化剂氧化 compartment with suitably designed air treatment facilities such as 的漆雾过滤设施。空气处理设施会进行定期维 paint mist filtering facilities with activated carbon absorbers and 修保养,以确保设施在正常和有效的条件下运 with ultra-violet photocatalytic oxidation. Regular maintenance on 行。类似地,研磨设备配有真空吸尘器,用于 the air treatment facilities are carried out to ensure the facilities are 在研磨及抛光过程中抑制灰尘。 operated in normal and efficient conditions. Similarly, the grinding equipment is fitted with vacuum cleaner for dust suppression during the process of grinding and polishing. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 93 To properly handle the disposal of both hazardous waste and non- 为妥善处理汽车销售店及售后服务中心产生的 hazardous waste generated in automobile sale stores and after-sale 有害废弃物及无害废弃物,本集团已制定废物 services centres, the Group has waste management procedures 管理程序,指导雇员进行废弃物分类、标签及 in place in guiding our employees in waste sorting, labelling and 贮存,尤其是根据国家法律分类为危险废弃物 storage, in particular for those hazardous waste categorised under 的,如废润滑油、有机溶剂、油漆及活性碳。 the national laws such as waste lubricant oil, organic solvents, 所有危险废弃物均适当隔离并临时储存在指定 paints and activated carbon. All the hazardous waste is properly 区域,而不与其他固体废弃物混合。废弃物定 segregated and temporarily stored in a designated area without 期交给持牌废弃物收集商进行处理。为尽量减 mixing with other solid wastes. The waste is regularly consigned to 少产生的危险废弃物数量,化学品及有机溶剂 licensed waste collectors for treatment. To minimise the amount of 将尽可能回收并重新用于车辆维护及喷漆过 hazardous waste generated, the chemicals and organic solvents 程。至于生活垃圾、纸张及汽车零件等无害废 will be recycled and reused in the vehicle maintenance and paint 弃物,可回收材料及物品将妥善分类,在交给 spraying process as much as possible. For non-hazardous waste 持牌废弃物收集商进行回收、再用及处理前尽 such as domestic waste, paper and automobile parts, the recyclable 可能在我们的经营中重复使用。 materials and items are properly sorted, reused as much as possible in our operations before consigned to licensed waste collectors for recycling, recovery and treatment. Managing our resources use 管理资源使用 The Group strives to maximise the resource efficiency in our 本集团致力于在其日常经营中尽量提升资源效 daily operation and hence the Group has established a green 率,因此,本集团已设立绿色经营管理程序, operation management procedure in guiding our employees to use 指引雇员透过减少资源、能源及水的消耗及妥 resources responsibly, by reducing the resources, energy and water 善控制材料使用以避免浪费资源。 consumption and proper controlling of the materials use to prevent wastage. Notices and signs are displayed in automobile sale stores and after- 汽车销售店及售后服务中心张贴通知及标志, sale services centres to remind employees of saving the energy, 提醒雇员节约能源、用水及纸张。例如,灯具 water and paper use. For instance, lights and air-conditioners 及空调应在离开工作场所或不使用时关闭;空 should be switched off before leaving the workplace or when they 调开启时,应关闭门窗。此外,工作区域放置 are not in use; doors and windows should be closed while air- 有回收箱,以将不同类型的可回收材料(如塑 conditioning is on. Furthermore, recycling bins are placed in working 料、玻璃及铝罐)分类供材料循环再造。 areas to segregate different types of recyclable materials such as plastic, glass and aluminium cans for material recycling. 94 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Regulating the use of company vehicles is another means of energy 规范公司车辆的使用是另一种节能及减少碳足 saving and carbon footprint reduction. Employees are required 印的途径。雇员须在使用车辆前至少一天提出 to make applications at least one day before the vehicle use so 申请,以便行政部根据行程目的地及乘客人数 that the Administrative Department can have a better planning on 更好地规划交通路线,尽量减少不必要的交 the transportation route based on the travel destinations and the 通,从而减少燃料消耗及碳排放。本集团亦对 number of passengers to minimise unnecessary transportation, and 所有车辆进行定期维修保养,以确保其在最佳 thus reduce the fuel consumption and carbon emission. The Group 状况及能效下运作。 also carries out regular maintenance for all the vehicles to ensure they are functioned in the optimal condition and energy efficiency. Practices on the reduction of resources consumption 减少资源消耗的惯例 – Apply the computer technology and electronic – 利用电脑技术及电子途径进 means of internal communication to reduce 行内部沟通以减少纸张消耗 Paper paper consumption – 打印前三思。如需打印,在 纸张 – Think twice before printing. When printing is 打印前仔细预览以减少纸张 necessary, preview carefully before printing to 浪费 reduce paper wastage – 采纳双面打印及影印 – Adopt double-sided printing and photocopying – 重用单面纸张打印 – Reuse single-sided papers – 回收及重复使用信封作内部 – Recycle and reuse envelopes for internal couriers 文件传递 Water 水 – Encourage the staff to report the leakage of taps, – 鼓励员工向相关部门报告水 water pipes and toiles immediately to the relevant 龙头、水管及盥洗室漏水 department – 避免在开著水龙头下进行洗 – Avoid running water for washing and rinsing 涤及冲洗 – Switch off the water tap during and after washing – 在洗手时及之后关闭水龙头 hands Other Materials Use 其他材料使用 – Use cleansing agents manufactured with no – 使用无磷酸盐的清洁剂 phosphate or phosphonates – 使用可重复使用产品( 如使 – Use reusable products (e.g. stationery with refills) 用补充装的文具)而非一次 instead of using single-use disposable items 性物品 – Turn off office appliance and equipment (e.g. computers – 在离开工作场所时关闭办公用品 and printers) when leaving the workplace 及设备(如电脑及打印机) – Use desk lamps to directly illuminate the work areas – 使用枱灯直接照亮工作区域 Energy 能源 – Switch off the lights and air-conditioning in meeting – 开闭不在使用中的会议室灯具及 rooms when not in use 空调 – Use of natural light whenever possible to save energy – 尽可能使用自然光以节省能源使 use 用 – Control the room temperature to energy-efficient level – 控制室温在节能水平及维持在摄 and manintain at 25 degrees Celsius 氏25度 – Clean the light fittings and dust filters of air-conditioners – 清洁灯罩及空调防尘罩以保持最 to maintain the optional good conditions 佳使用状况 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 95 Environmental, Social and Governance Report Environmental performance 环境表现 The environmental performance related to the Group’s operations 于报告期内,与本集团经营相关的环境表现于 during the Reporting Period is shown in the table below: 下表列示: Sparkle Roll Group Limited(Note 1) 耀莱集团有限公司(附注 1) Unit(Note 2) 2018/19 2017/18 单位(附注 2) 二零一八╱一九年 二零一七╱一八年 Types of Resources Use(Note 3) 资源使用类别(附注 3) Direct Energy(Note 4) 直接能源(附注4) – Petrol for mobile combustion Litre (“L”) 101,714.87 63,327.74 — 移动燃烧的汽油 升 Giga Joule (“GJ”) 3,334.42 2,076.01 吉焦耳 Intensity GJ per RMB (’000) sales 0.0012 0.00091 密度 吉焦耳每人民币千元销售额 Indirect Energy 间接能源 – Electricity Megawatt hour (“MWh”) 905.40 1,755.83 — 电力 兆瓦时 GJ 3,259.45 6,320.98 吉焦耳 Total Energy GJ 6,593.87 8,396.99 总能源 吉焦耳 Intensity GJ per RMB (’000) sales 0.0025 0.0037 密度 吉焦耳每人民币千元销售额 Water m3 2,185.97 1,999.50 水 立方米 Intensity m3 per RMB (’000) sales 0.00082 0.00087 密度 立方米每人民币千元销售额 Refrigerants kg 135.20 – 制冷剂 千克 Lubricant Oil L 21,176.00 – 润滑油 升 96 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Environmental, Social and Governance Report Sparkle Roll Group Limited(Note 1) 耀莱集团有限公司(附注 1) Unit(Note 2) 2018/19 2017/18 单位(附注 2) 二零一八╱一九年 二零一七╱一八年 Type of Waste 废弃物种类 Hazardous Waste Tonne 19.29 13.25 有害废弃物 吨 Intensity Tonne per RMB (’000) sales 0.0000072 0.0000058 密度 吨每人民币千元销售额 Non-hazardous Waste(Note 5) Tonne 2.33 – 无害废弃物(附注5) 吨 Intensity Tonne per RMB (’000) sales 0.00000087 – 密度 吨每人民币千元销售额 Type of Emissions 排放种类 Air Emission (VOCs) Tonne 0.0051 – 气体排放(挥发性有机化合物) 吨 GHG Emission 温室气体排放 Direct Emission (Scope 1)(Note 6) Tonne of carbon dioxide equivalent 418.68 147.55 直接排放(范围1)(附注6) (“tCO2e”) 吨二氧化碳当量 Indirect Emission (Scope 2)(Note 7) tCO2e 943.07 1,828.87 间接排放(范围2)(附注 7) 吨二氧化碳当量 Total tCO2e 1,361.74 1,976.42 总量 吨二氧化碳当量 Intensity tCO2e per RMB (’000) sales 0.00051 0.00086 密度 吨二氧化碳当量每人民币千元销售额 Note 1: The environmental key performance indicators (KPIs) only cover the 附注1: 环境关键绩效指标仅包含四间附属公司, four subsidiaries namely Beijing Mei He Zhen Yong Motors Trading 即北京美合振永汽车贸易有限公司、北京 Limited, Beijing De Te Motors Trading Limited, Tianjin Heng Ying Tai 德特汽车贸易有限公司、天津恒盈泰富贸 Fu Trading Development Limited, Tianjin Xin Chang Tai Fu Trading 易发展有限公司、天津信昌泰富贸易发展 Development Limited. 有限公司。 Note 2: The Group adjusted the unit of intensity to total sales and the 2017/18 附注2: 本集团调整了密度单位为总销售额及二零 KPIs data are updated accordingly. 一七╱一八年关键绩效指标数据已相应更 新。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 97 Environmental, Social and Governance Report Note 3: The packaging material is not applicable to the Group as the Group 附注3: 由于在报告范围内本集团从事汽车销售及 engaged in automobile dealership and provide after-sale services to 向客户提供售后服务,包装材料并不适用 our customers within the reporting scope. 于本集团。 Note 4: The conversion factors from volumetric units of petrol consumption 附注4: 从汽油消耗量的体积单位的转换为能源耗 to energy units are in reference to CDP Technical note: Conversion of 单位的换算系数乃参考CDP技术说明: fuel data to MWh in 2018. The energy values and energy intensity of 二零一八年燃料数据转换为兆瓦时。二零 petrol consumption in 2017/18 are recalculated based on the actual 一七╱一八年度汽油消耗的能源值及能源 fuel consumption data. 密度根据实际燃料消耗数据重新计算。 Note 5: The figure of non-hazardous waste only covers the two subsidiaries in 附注5: 无害废弃物的数据仅包括天津的两间附属 Tianjin. The non-hazardous waste generated by the two subsidiaries 公司。北京的两间附属公司所产生的无害 in Beijing is collected by the building management company and the 废弃物由物业管理公司收集,故无法获得 data is not available. 数据。 Note 6: The direct emission (Scope 1) covers the emission from the mobile 附注6: 直接排放(范围1)涵盖移动源燃烧的排 sources combustion. The calculation is referred to the published 放。计算参考二零零六年IPCC国家温室 emission factors from 2006 IPCC Guidelines for National Greenhouse 气体清单指南中公布的排放因子以及世界 Gas Inventories and the guidance worksheets of World Resources 资源研究所温室气体协议工具的移动源燃 Institute’s GHG Protocol Tool for Mobile Combustion. 烧指导工作表。 Note 7: The indirect emission (Scope 2) covers the emission from the 附注7: 间接排放(范围2)涵盖自电力公司购买电 purchased electricity from the Power Company. The calculation 力的排放。计算乃基于中国气候变化信息 is based on the emission factors from 2015 Emission Factors for 网公布的二零一五年中国区域电网基准线 purchased electricity within Mainland China, published by Climate 排放因子中所载的排放因子得出。 Change Info – Net. COMMUNITY INVESTMENT 社区投资 The Group believes we have the social responsibility to give back 本集团认为,我们负有社会责任回馈我们经营 to the community where we operate. The Group encourages our 所在的社区。本集团鼓励雇员积极参与各种志 employees to actively take part in various voluntary works and 愿活动及慈善活动,关爱社区内弱势及穷困群 charitable activities to care about the underprivileged groups and 体,并推行本集团「关爱&关怀」的文化。 needy in the community, and promote “Love & Care” culture along the Group. 98 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Environmental, Social and Governance Report HKEX ESG REPORTING GUIDE INDEX 联交所环境、社会及管治报告指引 索引 HKEx ESG Reporting Guide General Disclosures & KPIs Explanation/Reference Section 联交所环境、社会及管治报告指引一般披露及关键绩效指标 解释╱参考章节 Aspect A: Environment 层面A:环境 A1 Emissions Information on: Environmental Protection – Managing our emissions A1 排放物 环境保护-管理排放物 (a) the policies; and (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to air and greenhouse gas emissions, discharges into water and land, and generation of hazardous and non-hazardous waste. 有关废气及温室气体排放、向水及土地的排污、有害 及无害废弃物的产生等的: (a) 政策;及 (b) 遵守对发行人有重大影响的相关法律及规例的 资料。 Note: 注: Air emissions include NOx, SOx, and other pollutants regulated under national laws and regulations. 废气排放包括氮氧化物、硫氧化物及其他受国家法律 及规例规管的污染物。 Greenhouse gases include carbon dioxide, methane, nitrous oxide, hydrofluorocarbons, perfluorocarbons and sulphur hexafluoride. 温室气体包括二氧化碳、甲烷、氧化亚氮、氢氟碳化 合物、全氟化碳及六氟化硫。 Hazardous wastes are those defined by national regulations. 有害废弃物指国家规例所界定者。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 99 HKEx ESG Reporting Guide General Disclosures & KPIs Explanation/Reference Section 联交所环境、社会及管治报告指引一般披露及关键绩效指标 解释╱参考章节 KPI A1.1 The types of emissions and respective emissions Environmental Protection – Managing our emissions 关键绩效指标A1.1 data. 环境保护-管理排放物 排放物种类及相关排放数据。 Environmental Protection – Environmental performance 环境保护-环境表现 KPI A1.2 Greenhouse gas emissions in total (in tonnes) Environmental Protection – Environmental performance 关键绩效指标A1.2 and, where appropriate, intensity (e.g. per unit of 环境保护-环境表现 production volume, per facility). 温室气体总排放量(以吨计算)及(如适用)密度(如以每 产量单位、每项设施计算)。 KPI A1.3 Total hazardous waste produced (in tonnes) Environmental Protection – Environmental performance 关键绩效指标A1.3 and, where appropriate, intensity (e.g. per unit of 环境保护-环境表现 production volume, per facility). 所产生有害废弃物总量(以吨计算)及(如适用)密度(如 以每产量单位、每项设施计算)。 KPI A1.4 Total non-hazardous waste produced (in tonnes) Environmental Protection – Environmental performance 关键绩效指标A1.4 and where appropriate, intensity (e.g. per unit of 环境保护-环境表现 production volume, per facility). 所产生无害废弃物总量(以吨计算)及(如适用)密度(如 以每产量单位、每项设施计算)。 KPI A1.5 Description of measures to mitigate emissions and Environmental Protection – Managing our emissions 关键绩效指标A1.5 results achieved. 环境保护-管理排放物 描述减低排放量的措施及所得成果。 KPI A1.6 Description of how hazardous and non-hazardous Environmental Protection – Managing our emissions 关键绩效指标A1.6 wastes are handled, reduction initiatives and results 环境保护-管理排放物 achieved. 描述处理有害及无害废弃物的方法、减低产生量的措 施及所得成果。 100 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 HKEx ESG Reporting Guide General Disclosures & KPIs Explanation/Reference Section 联交所环境、社会及管治报告指引一般披露及关键绩效指标 解释╱参考章节 A2 Use of Resources Policies on efficient use of resources including Environmental Protection – Managing our resources use A2 资源使用 energy, water and other raw materials. 环境保护-管理资源使用 有效使用资源(包括能源、水及其他原材料)之政策。 Note: 注: Resources may be used in production, in storage, transportation, in buildings, electronic equipment, etc. 资源可用于生产、储存、运输、楼宇、电子设备等。 KPI A2.1 Direct and/or indirect energy consumption by type Environmental Protection – Environmental performance 关键绩效指标A2.1 (e.g. electricity, gas or oil) in total (kWh in ’000s) 环境保护-环境表现 and intensity (e.g. per unit of production volume, per facility). 按类型划分的直接及╱或间接能源(如电、气或油)总 耗量(以千个千瓦时计算)及密度(如以每产量单位、每 项设施计算)。 KPI A2.2 Water consumption in total and intensity (e.g. per unit Environmental Protection – Environmental performance 关键绩效指标A2.2 of production volume, per facility). 环境保护-环境表现 总耗水量及密度(如以每产量单位、每项设施计算)。 KPI A2.3 Description of energy use efficiency initiatives and Environmental Protection – Managing our resources use 关键绩效指标A2.3 results achieved. 环境保护-管理资源使用 描述能源使用效益计划及所得成果。 KPI A2.4 Description of whether there is any issue in sourcing Environmental Protection – Managing our resources use 关键绩效指标A2.4 water that is fit for purpose, water efficiency initiatives 环境保护-管理资源使用 and results achieved. 描述求取适用水源上可有任何问题,以及提升用水效 益计划及所得成果。 KPI A2.5 Total packaging material used for finished products Environmental Protection – Environmental performance 关键绩效指标A2.5 (in tonnes), and, if applicable, with reference to per 环境保护-环境表现 unit produced. 制成品所用包装材料的总量(以吨计算)及(如适用) 每生产单位占量。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 101 HKEx ESG Reporting Guide General Disclosures & KPIs Explanation/Reference Section 联交所环境、社会及管治报告指引一般披露及关键绩效指标 解释╱参考章节 A3 The Environment Policies on minimising the issuer’s significant impact Environmental Protection – Managing our emissions and Natural on the environment and natural resources. 环境保护-管理排放物 Resources 减低发行人对环境及天然资源造成重大影响之政策。 Environmental Protection – Managing our resources use A3 环境及天然资源 环境保护-管理资源使用 KPI A3.1 Description of the significant impacts of activities Environmental Protection – Managing our emissions 关键绩效指标A3.1 on the environment and natural resources and the 环境保护-管理排放物 actions taken to manage them. Environmental Protection – Managing our resources use 描述业务活动对环境及天然资源的重大影响及已采取 环境保护-管理资源使用 管理有关影响的行动。 Aspect B: Social 层面B. 社会 B1 Employment Information on: Employee Caring – Employment practices B1 雇佣 关爱员工-雇佣惯例 (a) the policies; and (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to compensation and dismissal, recruitment and promotion, working hours, rest periods, equal opportunity, diversity, anti- discrimination, and other benefits and welfare. 有关薪酬及解雇、招聘及晋升、工作时数、假期、平 等机会、多元化、反歧视以及其他待遇及福利的: (a) 政策;及 (b) 遵守对发行人有重大影响的相关法律及规例的 资料。 102 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 HKEx ESG Reporting Guide General Disclosures & KPIs Explanation/Reference Section 联交所环境、社会及管治报告指引一般披露及关键绩效指标 解释╱参考章节 B2 Health and Safety Information on: Employee Caring – Occupational health and safety B2 健康与安全 (a) the policies; and 关爱员工-职业健康及安全 (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to providing a safe working environment and protecting employees from occupational hazards. 有关提供安全工作环境及保障雇员避免职业性危害的: (a) 政策;及 (b) 遵守对发行人有重大影响的相关法律及规例的 资料。 B3 Development and Policies on improving employees’ knowledge and Employee Caring – Training and development Training skills for discharging duties at work. Description of 关爱员工-培训及发展 B3 发展及培训 training activities. 有关提升雇员履行工作职责之知识及技能之政策。描 述培训活动。 Note: Training refers to vocational training. It may include internal and external courses paid by the employer. 附注:培训指职业培训,可包括由雇主付费的内外部课 程。 B4 Labour Standards Information on: Employee Caring – Employment practices B4 劳工准则 (a) the policies; and 关爱员工-雇佣惯例 (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to preventing child and forced labour. 有关防止童工或强制劳工的: (a) 政策;及 (b) 遵守对发行人有重大影响的相关法律及规例的 资料。 B5 Supply Chain Policies on managing environmental and social risks Quality Products and Services – Managing our suppliers Management of the supply chain. 优质产品及服务-管理供应商 B5 供应链管理 管理供应链之环境及社会风险政策。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 103 Environmental, Social and Governance Report HKEx ESG Reporting Guide General Disclosures & KPIs Explanation/Reference Section 联交所环境、社会及管治报告指引一般披露及关键绩效指标 解释╱参考章节 B6 Product Information on: Quality Products and Services – Products responsibility Responsibility 优质产品及服务-产品责任 B6 产品责任 (a) the policies; and Quality Products and Services – Customer services (b) compliance with relevant laws and regulations 优质产品及服务-客户服务 that have a significant impact on the issuer relating to health and safety, advertising, Quality Products and Services – Customer complaint labelling and privacy matters relating to handling products and services provided and methods 优质产品及服务-客户投诉处理 of redress. Act with Integrity – Privacy protection 有关所提供产品和服务的健康与安全、广告、标签及 诚信行事-私隐保护 私隐事宜以及补救方法的: (a) 政策;及 (b) 遵守对发行人有重大影响的相关法律及规例的 资料。 B7 Anti-corruption Information on: Act with Integrity – Anti-corruption B7 反贪污 诚信行事-反贪污 (a) the policies; and (b) compliance with relevant laws and regulations that have a significant impact on the issuer relating to bribery, extortion, fraud and money laundering. 有关防止贿赂、勒索、欺诈及洗黑钱的: (a) 政策;及 (b) 遵守对发行人有重大影响的相关法律及规例的 资料。 B8 Community Policies on community engagement to understand Community Investment Investment the needs of the communities where the issuer 社区投资 B8 社区投资 operates and to ensure its activities take into consideration the communities’ interests. 有关以社区参与来了解营运所在社区需要和确保其业 务活动会考虑社区利益之政策。 104 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 TO THE SHAREHOLDERS OF SPARKLE ROLL GROUP LIMITED 致耀莱集团有限公司全体股东 (Incorporated in Bermuda with limited liability) (于百慕达注册成立之有限公司) QUALIFIED OPINION 保留意见 We have audited the consolidated financial statements of Sparkle 本核数 师(以下简 称「 我们 」)已审核第113至 Roll Group Limited (the “Company”) and its subsidiaries (together 283页所载有关耀莱集团有限公司(「 贵公 the “Group”) set out on pages 113 to 283, which comprise the 司」)及其附属公司(统称「 贵集团」)之综合财 consolidated statement of financial position as at 31 March 务报表,此综合财务报表包括于二零一九年三 2019, and the consolidated statement of comprehensive income, 月三十一日之综合财务状况报表,与截至该日 the consolidated statement of cash flows and the consolidated 止年度之综合全面收入报表、综合现金流量表 statement of changes in equity for the year then ended, and notes 及综合股本权益变动表,以及综合财务报表附 to the consolidated financial statements, including a summary of 注,其包括主要会计政策概要。 significant accounting policies. In our opinion, except for the possible effects of the matter 我们认为,除本报告「保留意见的基准」一节 described in the “Basis for Qualified Opinion” section of our report, 所述的事项的可能影响外,综合财务报表已根 the consolidated financial statements give a true and fair view of the 据香港会计师公 会(「 香港会计师公会 」)颁 布 consolidated financial position of the Group as at 31 March 2019, 的香港财务报告准则真实而公平地反映 贵集 and of its consolidated financial performance and its consolidated 团于二零一九年三月三十一日的综合财务状况 cash flows for the year then ended in accordance with Hong Kong 及 贵集团于截至该日止年度的综合财务表现 Financial Reporting Standards issued by the Hong Kong Institute 及其综合现金流量,并已按照香港公司条例的 of Certified Public Accountants (“HKICPA”) and have been properly 披露规定妥为编制。 prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 105 BASIS FOR QUALIFIED OPINION 保留意见的基准 As stated in Note 20(a) to the consolidated financial statements, 诚如综合财务报表附注20(a)所述,Bang & Bang & Olufsen A/S (“B&O”), an entity with shares listed in Denmark, Olufsen A/S(「B&O」)(一间股份于丹麦上市 ceased to be an associate of the Group since the date of deemed 的公司)自于截至二零一八年三月三十一日 disposal of investment in associate during the year ended 31 March 止年度视作出售于联营公司的投资当日(「 终 2018 (the “Cessation Date”) upon which the Group ceased the 止日期」)起 不再为 贵集团的联营公 司, 自 application of equity method of accounting on its investment in 此 贵集团于其于B&O的投资不再应用权益会 B&O. During the period between 1 April 2017 and the Cessation 计法。于二零一七年四月一日至终止日期止期 Date, the Group recorded a share of loss of B&O as an associate 间, 贵集团于截至二零一八年三月三十一日 in the amount of approximately HK$12,779,000, and a gain on 止年度的综合财务报表(「二零一八财政年度综 deemed disposal of investment in an associate in the amount 合财务报表」)中录得应占B&O(作为一间联营 of approximately HK$585,588,000 in the Group’s consolidated 公司)之亏损约12,779,000港元及视作出售于 financial statements for the year ended 31 March 2018 (the “FY2018 一间联营公司投资收益约585,588,000港元。 consolidated financial statements”). The predecessor auditor modified its opinion on the Group’s FY 由于无法就 贵集团于二零一七年四月一日至 2018 consolidated financial statements due to inability to obtain 终止日期应占B&O之业绩及视作出售B&O收 sufficient appropriate audit evidence regarding the Group’s share of 益(如本集团二零一八财政年度综合财务报表 B&O’s results for the period from 1 April 2017 to the Cessation Date 所载)取得充足及适当的审核凭证,前核数师 and the gain on deemed disposal of B&O as included in the Group’s 修改 贵集团之二零一八财政年度综合财务报 FY2018 consolidated financial statements. Our audit opinion on 表的审核意见。由于此审核范围对二零一八财 the consolidated financial statements for the year ended 31 March 政年度综合财务报表的限制对截至二零一九年 2019 is also modified because of the possible effect of this audit 三月三十一日止年度综合财务报表中相关二零 scope limitation on the FY2018 consolidated financial statements 一九年数字及二零一八年数字是否可资比较的 on the comparability of the related 2019 figures and 2018 figures in 可能影响,我们就截至二零一九年三月三十一 the consolidated financial statements for the year ended 31 March 日止年度的综合财务报表的意见亦已予修改。 2019. We conducted our audit in accordance with Hong Kong Standards 我们已根据香港会计师公会颁布的香港核数 on Auditing (“HKSAs”) issued by the HKICPA. Our responsibilities 准则(「香港核数准则」)进行审核。 根据该等 under those standards are further described in the “Auditor’s 准则,我们的责任于本报告「核数师就审核综 Responsibilities for the Audit of the Consolidated Financial 合财务报表承担之责任」一节中详述。根据香 Statements” section of our report. We are independent of the Group 港会计师公会的「专业会计师道德守则」(「守 in accordance with the HKICPA’s “Code of Ethics for Professional 则」),我们独立于 贵集团,并已遵循守则履 Accountants” (the “Code”), and we have fulfilled our other ethical 行其他道德责任。我们相信,我们所获得的审 responsibilities in accordance with the Code. We believe that the 核凭证足够及能适当地为我们的保留意见提供 audit evidence we have obtained is sufficient and appropriate to 基础。 provide a basis for our qualified opinion. 106 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 OTHER INFORMATION IN THE ANNUAL 年报内的其他资料 REPORT The directors are responsible for the other information. The other 董事须对其他资料负责。其他资料包括载 information comprises the information included in the Company’s 于 贵公司年报之资料,惟不包括综合财务报 annual report, but does not include the consolidated financial 表及我们就此发出之核数师报告。 statements and our auditor’s report thereon. Our opinion on the consolidated financial statements does not cover 我们对综合财务报表之意见并不涵盖其他资 the other information and we do not express any form of assurance 料,我们亦不对其他资料发表任何形式之鉴证 conclusion thereon. 结论。 In connection with our audit of the consolidated financial 在我们审核综合财务报表时,我们的责任乃阅 statements, our responsibility is to read the other information and, 读其他资料,在此过程中,考虑其他资料是否 in doing so, consider whether the other information is materially 与综合财务报表或我们在审核过程中所了解之 inconsistent with the consolidated financial statements or our 情况有重大不一致,或者似乎有重大错误陈 knowledge obtained in the audit or otherwise appears to be 述。基于我们已执行之工作,倘我们认为此其 materially misstated. If, based on the work we have performed, 他资料有重大错误陈述,我们须报告该事实。 we conclude that there is a material misstatement of this other 诚如上节「保留意见的基准」所述,我们无法就 information, we are required to report that fact. As described in 关于应占B&O之业绩及视作出售一间联营公司 the “Basis for Qualified Opinion” section above, we were unable to 之收益取得充足及适当的审核凭证。因此,我 obtain sufficient appropriate evidence about the share of results of 们无法得出结论,其他资料就有关该等事项是 B&O and gain on deemed disposal of an associate. Accordingly, 否有重大错误陈述。 we are unable to conclude whether or not the other information is materially misstated with respect to these matters. KEY AUDIT MATTERS 关键审核事项 Key audit matters are those matters that, in our professional 关键审核事项乃根据我们的职业判断,对本期 judgement, were of most significance in our audit of the 间综合财务报表之审核最为重要之事项。该等 consolidated financial statements of the current period. These 事项乃于我们审核整体综合财务报表及就此出 matters were addressed in the context of our audit of the 具意见时进行处理,及我们不会就该等事项提 consolidated financial statements as a whole, and in forming 供单独意见。除「保留意见的基准」一节所述之 our opinion thereon, we do not provide a separate opinion on 事宜外,我们厘定下文所述之事宜为将于我们 these matters. In addition to the matter described in the “Basis 作出之报告中沟通之关键审核事项。 for Qualified Opinion” section of our report, we have determined the matter described below to be the key audit matter to be communicated in our report. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 107 KEY AUDIT MATTERS (Continued) 关键审核事项(续) Impairment assessment on goodwill 商誉之减值评估 Refer to Notes 4, 5 and 18 to the consolidated financial statements 参阅综合财务报表附注4、5及18 The Group’s goodwill amounted to approximately HK$397,545,000 贵集团商誉于二零一九年三月三十一日约为 as at 31 March 2019. We focused on this area due to the size of 397,545,000港元。我们因商誉价值而侧重于 goodwill. Furthermore, the directors’ assessment of the value-in-use 此方面。此外,董事评估 贵集团现金产生单 calculation of the Group’s cash-generating units (“CGUs”) involves 位(「现金产生单位」)之使用价值计算时涉及有 judgement and estimates about the future results of the businesses, 关对业务之未来业绩作出判断及估计、关键假 key assumptions including budgeted gross margins, discount rates 设(包括适用于未来现金流量预测之预算毛利 and growth rates applied to future cash flow forecast. 率、贴现率及增长率)。 Our response: 我们的回应: Our audit procedures included, amongst others, the followings: 我们的审核程序包括(其中包括)以下各项: (i) Evaluating and checking the composition of the Group’s future (i) 评估及检查 贵集团现金产生单位之未 cash flow forecasts in the CGUs, and the process by which 来现金流量预测的构成及其产生程序, they were drawn up, including testing the underlying value-in- 包括测试相关使用价值计算,并将其与 use calculations and comparing them to the latest approved 最新批准的预算作比较; budgets; (ii) Assessing the reasonableness of the key assumptions by (ii) 通过参考未来计划及进行独立市场分 comparing the current year actual results with the forecast 析,比较当前年度实际业绩与先前预测 figures of the current year included in the previous forecast, 中包含的当前年度预测数字,以评估关 by reference to future plans and by performing independent 键假设的合理性;及 market analysis; and (iii) Utilising our own valuation specialists’ work when considering (iii) 在考虑贴现率及长期增长率之合适性时 the appropriateness of the discount rates and long-term 利用我们本身的估值专家的估值结果。 growth rates. 108 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 OTHER MATTER 其他事宜 The consolidated financial statements of the Group for the year 贵集团于截至二零一八年三月三十一日止年度 ended 31 March 2018 were audited by another auditor who 之综合财务报表乃由另一核数师(于二零一八 expressed a qualified opinion on those statements on 22 June 年六月二十二日就该等报表出具保留审核意 2018. 见)审核。 DIRECTORS’ RESPONSIBILITIES FOR THE 董事就综合财务报表须承担之责任 CONSOLIDATED FINANCIAL STATEMENTS The directors are responsible for the preparation of the consolidated 董事须负责根据香港会计师公会颁布之香港财 financial statements that give a true and fair view in accordance with 务报告准则及香港公司条例之披露规定编制综 Hong Kong Financial Reporting Standards issued by the HKICPA 合财务报表,以令综合财务报表作出真实而公 and the disclosure requirements of the Hong Kong Companies 平之反映,及落实其认为编制综合财务报表所 Ordinance, and for such internal control as the directors determine 必要之内部控制,以使综合财务报表不存在由 is necessary to enable the preparation of consolidated financial 于欺诈或错误而导致之重大错误陈述。 statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, the directors 在编制综合财务报表时, 贵公司董事负责评 of the Company are responsible for assessing the Group’s ability 估 贵集团持续经营之能力,并在适用情况下 to continue as a going concern, disclosing, as applicable, matters 披露与持续经营有关之事项,以及使用持续经 related to going concern and using the going concern basis of 营为会计基础,除非董事有意将 贵集团清盘 accounting unless the directors either intend to liquidate the Group 或停止经营,或别无其他实际之替代方案。 or to cease operations, or have no realistic alternative but to do so. The directors are also responsible for overseeing the Group’s 董事亦负责监督 贵集团财务报告过程。审核 financial reporting process. The Audit Committee assists the 委员会协助董事履行其余此方面之职责。 directors in discharging their responsibilities in this regard. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 109 AUDITOR’S RESPONSIBILITIES FOR THE 核数师就审核综合财务报表承担之 AUDIT OF THE CONSOLIDATED FINANCIAL 责任 STATEMENTS Our objectives are to obtain reasonable assurance about whether 我们的目标乃对整体综合财务报表是否不存在 the consolidated financial statements as a whole are free from 由于欺诈或错误而导致之任何重大错误陈述取 material misstatement, whether due to fraud or error, and to issue 得合理保证,并出具包括我们意见之核数师报 an auditor’s report that includes our opinion. This report is made 告。本报告乃按照百慕达一九八一年公司法第 solely to you, as a body, in accordance with Section 90 of the 90条之规定,仅向全体股东报告,而不作其他 Bermuda Companies Act 1981, and for no other purpose. We do not 用途。我们不会就本报告之内容向任何其他人 assume responsibility towards or accept liability to any other person 士负责或承担任何责任。 for the contents of this report. Reasonable assurance is a high level of assurance, but is not a 合理保证乃高水平之保证,但不能保证按香港 guarantee that an audit conducted in accordance with HKSAs will 核数准则进行之审核在某一重大错误陈述存在 always detect a material misstatement when it exists. Misstatements 时总能发现。错误陈述可以由欺诈或错误引 can arise from fraud or error and are considered material if, 起,如果合理预期他们个别或汇总起来可能影 individually or in the aggregate, they could reasonably be expected 响该等综合财务报表之基准使用者所作出之经 to influence the economic decisions of users taken on the basis of 济决定,则有关错误陈述可被视作重大。 these consolidated financial statements. As part of an audit in accordance with HKSAs, we exercise 在根据香港核数准则进行审核之过程中,我们 professional judgement and maintain professional skepticism 运用了职业判断,保持了职业怀疑态度。我们 throughout the audit. We also: 亦: identify and assess the risks of material misstatement of the 识别和评估由于欺诈或错误而导致综合 consolidated financial statements, whether due to fraud or 财务报表存在重大错误陈述之风险,设 error, design and perform audit procedures responsive to 计及执行审核程序以应对该等风险,以 those risks, and obtain audit evidence that is sufficient and 及取得充足及适当之审核凭证,作为我 appropriate to provide a basis for our opinion. The risk of 们意见之基础。由于欺诈可能涉及串 not detecting a material misstatement resulting from fraud is 谋、伪造、蓄意遗漏、虚假陈述,或凌 higher than for one resulting from error, as fraud may involve 驾于内部控制之上,因此未能发现因欺 collusion, forgery, intentional omissions, misrepresentations, 诈而导致重大错误陈述之风险较因错误 or the override of internal control. 而导致重大错误陈述之风险为高。 110 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 AUDITOR’S RESPONSIBILITIES FOR THE 核数师就审核综合财务报表承担之 AUDIT OF THE CONSOLIDATED FINANCIAL 责任(续) STATEMENTS (Continued) obtain an understanding of internal control relevant to the audit 了解与审核相关之内部控制,以设计适 in order to design audit procedures that are appropriate in 当之审核程序,但非旨在对 贵集团内 the circumstances, but not for the purpose of expressing an 部控制之有效性发表意见。 opinion on the effectiveness of the Group’s internal control. evaluate the appropriateness of accounting policies used 评价董事所采用会计政策之恰当性以及 and the reasonableness of accounting estimates and related 作出会计估计及相关披露资料之合理性。 disclosures made by the directors. conclude on the appropriateness of the directors’ use of the 对董事采用持续经营会计基础之恰当性 going concern basis of accounting and, based on the audit 作出结论。根据所得之审核凭证,决定 evidence obtained, whether a material uncertainty exists 是否存在与可能对 贵集团持续经营之 related to events or conditions that may cast significant doubt 能力构成重大疑虑之事件或情况有关之 on the Group’s ability to continue as a going concern. If we 重大不确定性。倘我们认为存在重大 conclude that a material uncertainty exists, we are required to 不确定性,则有必要在核数师报告中提 draw attention in our auditor’s report to the related disclosures 请使用者对综合财务报表中相关披露资 in the consolidated financial statements or, if such disclosures 料之关注。假若有关披露资料不足,则 are inadequate, to modify our opinion. Our conclusions are 须修订我们的意见。我们的结论乃基 based on the audit evidence obtained up to the date of our 于截至核数师报告日期止所取得之审 auditor’s report. However, future events or conditions may 核凭证。然而,未来事件或情况可能导 cause the Group to cease to continue as a going concern. 致 贵集团不能继续持续经营。 evaluate the overall presentation, structure and content of the 评价综合财务报表之整体列报方式、结 consolidated financial statements, including the disclosures, 构及内容,包括披露资料,以及综合财 and whether the consolidated financial statements represent 务报表是否公允反映相关交易及事件。 the underlying transactions and events in a manner that achieves fair presentation. obtain sufficient appropriate audit evidence regarding the 就 贵集团中实体或业务活动之财务资 financial information of the entities or business activities within 料获取充分、适当之审核凭证,以对综 the Group to express an opinion on the consolidated financial 合财务报表发表意见。我们负责指导、 statements. We are responsible for the direction, supervision 监督及执行集团审核。我们对审核意见 and performance of the group audit. We remain solely 承担全部责任。 responsible for our audit opinion. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 111 AUDITOR’S RESPONSIBILITIES FOR THE 核数师就审核综合财务报表承担之 AUDIT OF THE CONSOLIDATED FINANCIAL 责任(续) STATEMENTS (Continued) We communicate with the Audit Committee regarding, among other 我们就(其中包括)审核之计划范围、时间安排 matters, the planned scope and timing of the audit and significant 及重大审核结果,包括我们于审核期间所识别 audit findings, including any significant deficiencies in internal 内部控制之任何重大缺陷,与审核委员会进行 control that we identify during our audit. 了沟通。 We also provide the Audit Committee with a statement that 我们亦向审核委员会提交声明,说明我们已符 we have complied with relevant ethical requirements regarding 合有关独立性之相关职业道德要求,并与彼等 independence, and to communicate with them all relationships 沟通所有合理认为会影响我们独立性之关系及 and other matters that may reasonably be thought to bear on our 其他事项,以及(如适用)相关防范措施。 independence, and where applicable, related safeguards. From the matters communicated with the directors, we determine 从与董事沟通之事项中,我们决定何种事项对 those matters that were of most significance in the audit of the 本期间综合财务报表之审核最为重要,因而构 consolidated financial statements of the current period and are 成关键审核事项。我们会在核数师报告中描述 therefore the key audit matters. We describe these matters in our 该等事项,除非法律或法规不允许对某件事项 auditor’s report unless law or regulation precludes public disclosure 作出公开披露,或在极端罕见之情况下,若有 about the matter or when, in extremely rare circumstances, we 合理预期在我们的报告中沟通某事项而造成之 determine that a matter should not be communicated in our report 负面后果将会超过其产生之公众利益,我们将 because the adverse consequences of doing so would reasonably 不会于此等情况下于报告中沟通该事项。 be expected to outweigh the public interest benefits of such communication. BDO Limited 香港立信德豪会计师事务所有限公司 Certified Public Accountants 执业会计师 Lam Siu Fung 林兆丰 Practising Certificate Number: P05308 执业证书编号:P05308 Hong Kong, 28 June 2019 香港,二零一九年六月二十八日 112 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 2019 2018 二零一九年 二零一八年 Note HK$’000 HK$’000 附注 千港元 千港元 Revenue 收益 7 3,724,845 2,893,052 Cost of sales 销售成本 (3,159,908) (2,494,027) Gross profit 毛利 564,937 399,025 Other income and net gains 其他收入及收益净额 8 90,634 83,576 Selling and distribution costs 销售及代理成本 (381,887) (295,534) Administrative expenses 行政费用 (150,633) (60,716) Other expenses 其他费用 9 – (12,976) Operating profit 经营溢利 9 123,051 113,375 Finance costs 融资成本 10 (40,956) (16,234) Gain on deemed disposal 视作出售于一间联营公司 of investment in an associate 之投资收益 20(a) – 585,588 Share of loss of an associate 应占一间联营公司亏损 – (12,779) Profit before income tax 除所得税前溢利 82,095 669,950 Income tax 所得税 11 4,994 (2,834) Profit for the year 本年度溢利 87,089 667,116 Other comprehensive income, 除税后其他全面收入 net of tax Items that may be reclassified 其后可重新分类至损益表 subsequently to profit or loss: 之项目: Exchange differences on translation 换算海外业务财务报表 of financial statements of foreign 之汇兑差额 operations (37,220) 68,425 Change in fair value of available- 于年内确认之可供出售 for-sale investment recognised 投资之公允值变动 during the year – 64,243 Share of other comprehensive 应占一间联营公司之 income of an associate 其他全面收入 – (5,270) Reclassification adjustments 转至损益的重新分类 for amounts transferred to 调整金额: profit or loss: Deemed disposal of investment 视作出售于一间联营 in an associate 公司之投资 – (521) Items that will not be reclassified 其后将不会重新分类至 subsequently to profit or loss: 损益表之项目: Change in fair value of equity 于年内确认按公允值计入 investments at fair value through 其他全面收入之股权 other comprehensive income 投资之公允值变动 recognised during the year (768,022) – SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 113 Consolidated Statement Of Comprehensive Income (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 2019 2018 二零一九年 二零一八年 Note HK$’000 HK$’000 附注 千港元 千港元 Other comprehensive income 本年度其他全面收入, for the year, net of tax 扣除税项 (805,242) 126,877 Total comprehensive income 本年度全面收入总额 for the year (718,153) 793,993 Profit for the year attributable to: 下列人士应占本年度溢利: Owners of the Company 本公司拥有人 97,429 664,565 Non-controlling interests 非控股权益 (10,340) 2,551 87,089 667,116 Total comprehensive income 下列人士应占 attributable to: 全面收入总额: Owners of the Company 本公司拥有人 (707,680) 791,326 Non-controlling interests 非控股权益 (10,473) 2,667 (718,153) 793,993 Earnings per share attributable 本公司拥有人应占 to owners of the Company 每股盈利 Basic and diluted 基本及摊薄 HK2.0 cents HK14.9 cents 15 港仙 港仙 114 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 于二零一九年三月三十一日 As at 31 March 2019 2019 2018 二零一九年 二零一八年 Notes HK$’000 HK$’000 附注 千港元 千港元 Non-current assets 非流动资产 Property, plant and equipment 物业、机器及设备 16 242,273 92,527 Prepaid lease payments 预付租赁款项 17 564,982 – Goodwill 商誉 18 397,545 206,171 Other intangible assets 其他无形资产 19 386,877 393 Available-for-sale investment 可供出售投资 20(b) – 1,291,321 Financial assets at fair value through 按公允值计入其他全面 other comprehensive income 收入之金融资产 20(b) 426,187 – Deposits paid for acquisition of 收购一间物业控股公司 a property holding company 已付之按金 – 135,802 Prepayment for property, plant 物业、机器及设备预缴 and equipment 款项 3,596 – Rental deposits paid to a related 已付一名关联方租金按金 party 21(b) 6,989 15,812 2,028,449 1,742,026 Current assets 流动资产 Inventories 存货 22 1,028,772 1,061,407 Trade receivables 应收贸易款项 23(a) 21,591 5,342 Deposits, prepayments and 按金、预缴款项及 other receivables 其他应收款项 23(b) 237,462 269,995 Prepaid lease payments 预付租赁款项 17 17,183 – Amounts due from related parties 应收关联方款项 21(c) 6,767 8,576 Investment in films 投资电影 24 301,832 – Investment in debt securities 投资债务证券 25 – 440,000 Loan receivables 应收贷款 26 – 127,376 Pledged deposits 已抵押存款 27 106,354 91,357 Restricted bank balance 受限制银行结余 27 – 5,304 Cash at banks and in hand 银行及手头现金 27 185,241 155,650 1,905,202 2,165,007 Current liabilities 流动负债 Trade payables 应付贸易款项 29 80,881 14,501 Contract liabilities 合约负债 30 235,034 – Receipts in advance, accrued 预收款项、应计费用 charges and other payables 及其他应付款项 31 261,136 288,370 Amounts due to non-controlling 应付非控股权益款项 interests 21(a) 6,639 4,538 Amounts due to related parties 应付关联方款项 21(c) – 2,424 Provision for taxation 税项拨备 5,605 5,386 Borrowings 借贷 32 620,051 567,652 1,209,346 882,871 Net current assets 流动资产净值 695,856 1,282,136 Total assets less current liabilities 总资产减流动负债 2,724,305 3,024,162 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 115 Consolidated Statement of Financial Position (Continued) 于二零一九年三月三十一日 As at 31 March 2019 2019 2018 二零一九年 二零一八年 Notes HK$’000 HK$’000 附注 千港元 千港元 Non-current liabilities 非流动负债 Other payables 其他应付款项 31 – 304 Borrowings 借贷 32 253,830 – Deferred tax liabilities 递延税项负债 33 97,281 678 351,111 982 Net assets 资产净值 2,373,194 3,023,180 Equity 权益 Equity attributable to owners to 本公司拥有人应占权益 the Company Share capital 股本 34 9,999 9,882 Reserves 储备 35 2,356,638 2,996,268 2,366,637 3,006,150 Non-controlling interests 非控股权益 41 6,557 17,030 Total equity 权益总额 2,373,194 3,023,180 The consolidated financial statements on pages 113 to 283 were 第113页至第283页的综合财务报表于二零 approved and authorised for issue by the board of directors on 28 一九年六月二十八日获董事会批准及授权刊 June 2019 and signed on its behalf by: 发,由下列董事代表签署: Zheng Hao Jiang Zhao Xiaodong 郑浩江 赵小东 Director Director 董事 董事 116 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 Year ended Year ended 31 March 2019 31 March 2018 截至二零一九年 截至二零一八年 三月三十一日止年度 三月三十一日止年度 Notes HK$’000 HK$’000 附注 千港元 千港元 Cash flows from operating activities 经营业务之现金流量 Profit before income tax 除所得税前溢利 82,095 669,950 Adjustments for: 就以下各项作出调整: Bank interest income 银行利息收入 8 (1,299) (1,216) Gain on disposals of property, 出售物业、机器及 plant and equipment 设备之收益 8 (2,054) (2,128) Amortisation of other intangible assets 其他无形资产摊销 9 26,727 79 Amortisation of prepaid lease payments 预付租赁款项摊销 9 9,975 – Depreciation of property, 物业、机器及设备 plant and equipment 之折旧 9 26,891 21,995 Interest expenses 利息开支 10 40,956 16,234 Write-down of inventories 存货撇减 9 8,356 6,238 Reversal of write-down of inventories 拨回存货撇减 9 (7,947) – Provision for litigation and claims 诉讼及索偿拨备 9 – 12,976 Gain on deemed disposal of investment 视作出售于一间联营公司 in an associate 之投资收益 – (585,588) Share of loss of an associate 分占一间联营公司亏损 – 12,779 Operating cash flows before working 营运资金变动前之经营现金 capital changes 流量 183,700 151,319 Increase in inventories 存货增加 (22,201) (62,732) (Increase)/decrease in trade receivables 应收贸易款项(增加)╱减少 (8,859) 1,601 Decrease/(increase) in deposits, 按金、预缴款项及其他应 prepayments and other receivables 收款项减少╱(增加) 114,697 (70,473) Decrease/(increase) in balances 与关联方的结余减少╱(增加) with related parties 6,899 (17,017) Decrease in restricted bank balance 受限制银行结余减少 4,975 1,416 Increase/(decrease) in trade payables 应付贸易款项增加╱(减少) 53,241 (7,934) Increase in contract liabilities 合约负债增加 232,436 – (Decrease)/increase in receipts in advance, 预收款项、应计费用及 accrued charges and other payables 其他应付款项(减少)╱增加 (257,866) 100,088 Cash generated from operations 经营业务所得现金 307,022 96,268 Income tax paid 已付所得税 (1,311) (1,692) Net cash generated from operating activities 经营业务所得现金净额 305,711 94,576 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 117 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 Year ended Year ended 31 March 2019 31 March 2018 截至二零一九年 截至二零一八年 三月三十一日止年度 三月三十一日止年度 Note HK$’000 HK$’000 附注 千港元 千港元 Cash flows from investing activities 投资活动之现金流量 Increase in pledged bank deposits 已抵押银行存款增加 (19,487) (11,418) Prepayment for property, plant and equipment 物业、机器及设备预缴款项 (3,819) – Purchase of property, plant and equipment 购买物业、机器及设备 (24,780) (17,889) Proceeds from disposals of property, 出售物业、机器及设备 plant and equipment 所得款项 8,548 7,596 Deposits paid for acquisition of 收购一间物业控股公司 a property holding company 已付之按金 – (111,111) Proceeds from disposal of equity investment 出售股权投资所得款项 97,112 – Proceeds from disposal/(acquisition) of 出售债务证券所得款项╱ debt securities (收购) 442,053 (440,000) Proceeds from disposal of loans receivables 出售应收贷款所得款项 122,113 – Increase in loan receivables 应收贷款增加 – (123,309) Acquisition of a property holding company 收购一间物业控股公司 (618,554) – Acquisition of subsidiaries 收购附属公司 44 (483,801) (1,150) Interest received 已收利息 1,299 1,216 Net cash used in investing activities 投资活动所用现金净额 (479,316) (696,065) Cash flows from financing activities 融资活动之现金流量 Advances from non-controlling interests 附属公司非控股权益垫款 of subsidiaries 2,309 2,960 New borrowings raised 新增借贷 3,630,838 2,231,457 Repayments of borrowings 偿还借贷 (3,299,062) (2,105,248) Placing of shares 配售股份 – 440,845 Repurchase of the Company’s own shares 购回本公司本身股份 (84,833) Interest paid 已付利息 (40,956) (16,234) Net cash generated from financing activities 融资活动所得现金净额 208,296 553,780 Net increase/(decrease) in cash and 现金及现金等值项目 cash equivalents 增加╱(减少)净额 34,691 (47,709) Cash and cash equivalents 年初之现金及现金等值项目 at beginning of year 155,650 192,103 Effect of foreign exchange rate changes, net 汇率变动之影响,净额 (5,100) 11,256 Cash and cash equivalents at end of year, 年终之现金及现金等值项目, comprising cash at banks and in hand 包括银行及手头现金 185,241 155,650 118 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 AttributabletoownersoftheCompany 本公司拥有人应占 Non- Share Share Capital Special Contributed Exchange Other Statutory Fairvalue Retained controlling Total capital premium reserve reserve surplus reserve reserve reserve reserve earnings Total interests equity 股本 股份溢价 资本储备 特别储备 缴入盈余 外汇储备 其他储备 法定储备 公允值储备 保留溢利 合计 非控股权益 权益总额 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 At1April2017 于二零一七年四月一日 8,282 1,482,243 3,508 (36,810) 28,844 (21,405) 7,401 12,657 – 289,274 1,773,994 13,833 1,787,827 Changesinequityin2018 二零一八年权益变动 Profitfortheyear 本年度溢利 – – – – – – – – – 664,565 664,565 2,551 667,116 Othercomprehensiveincome 其他全面收入 –Exchangedifferencesontranslationof -换算海外业务财务报表 financialstatementsof 之汇兑差额 foreignoperations – – – – – 68,309 – – – – 68,309 116 68,425 –Changeinfairvalueof -于年内确认之可供出售投资 available-for-saleinvestment 公允值变动 recognisedduringtheyear – – – – – – – – 64,243 – 64,243 – 64,243 –Shareofothercomprehensiveincome -分占一间联营公司 ofanassociate 其他全面收入 – – – – – – (5,270) – – – (5,270) – (5,270) –Reclassificationadjustmentsupon -于视作出售于一间联营公司 deemeddisposalofinvestmentin 投资后之重新分类调整 anassociate – – – – – (5,876) 5,355 – – – (521) – (521) Totalcomprehensiveincomefortheyear 本年度全面收入总额 – – – – – 62,433 85 – 64,243 664,565 791,326 2,667 793,993 Placingofshares 配售股份 1,600 439,245 – – – – – – – – 440,845 – 440,845 Reductionofsharepremium 削减股份溢价 – (500,000) – – 500,000 – – – – – – – – Eliminationofcontributedsurplusagainst 以缴入盈余抵销本公司 accumulatedlossesoftheCompany 累计亏损 – – – – (88,818) – – – – 88,818 – – – Shareofotherreserveofanassociate 应占一间联营公司其他储备 – – – – – – (15) – – – (15) – (15) Derecognitionofotherreservesupon 于视作出售一间联营公司后 deemeddisposalofanassociate 终止确认其他储备 – – – – – – (188) – – 188 – – – Transfertostatutoryreserve 转拨至法定储备 – – – – – – – 265 – (265) – – – Non-controllinginterestsarisingfrom 收购一间附属公司产生的 acquisitionofasubsidiary 非控股权益 – – – – – – – – – – – 530 530 At31March2018 于二零一八年三月三十一日 9,882 1,421,488 3,508 (36,810) 440,026 41,028 7,283 12,922 64,243 1,042,580 3,006,150 17,030 3,023,180 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 119 Consolidated Statement of Changes in Equity (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 AttributabletoownersoftheCompany 本公司拥有人应占 Fairvalue Fairvalue reserve reserve (non- Non- Share Share Capital Special Contributed Exchange Other Statutory (recycling)* recycling) Retained controlling Total capital premium reserve reserve surplus reserve reserve reserve 公允值拨备 公允值拨备 earnings Total interests equity 股本 股份溢价 资本储备 特别储备 缴入盈余 外汇储备 其他储备 法定储备 (可拨回)* (不可拨回) 保留溢利 合计 非控股权益 权益总额 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 At31March2018 于二零一八年三月三十一日 9,882 1,421,488 3,508 (36,810) 440,026 41,028 7,283 12,922 64,243 – 1,042,580 3,006,150 17,030 3,023,180 ImpactoninitialapplicationofHKFRS9 首次应用香港财务报告准则 第9号之影响 – – – – – – – – (64,243) 64,243 – – – – At1April2018 于二零一八年四月一日 9,882 1,421,488 3,508 (36,810) 440,026 41,028 7,283 12,922 – 64,243 1,042,580 3,006,150 17,030 3,023,180 Changesinequityin2019 二零一九年权益变动 Profitfortheyear 本年度溢利 – – – – – – – – – – 97,429 97,429 (10,340) 87,089 Othercomprehensiveincome 其他全面收入 –Exchangedifferenceson -换算海外业务财务 translationoffinancialstatements 报表之汇兑差额 offoreignoperations – – – – – (37,087) – – – – – (37,087) (133) (37,220) –Changeinfairvalueofequityinvestments -年内已确认按公允值计入 atfairvaluethroughother 其他全面收入之 comprehensiveincome 股权投资之公允值变动 recognisedduringtheyear – – – – – – – – – (768,022) – (768,022) – (768,022) Totalcomprehensiveincomefortheyear 本年度全面收入总额 – – – – – (37,087) – – – (768,022) 97,429 (707,680) (10,473) (718,153) Transferupondisposal 出售按公允值计入其他 offinancialassetsatfairvaluethrough 全面收入之金融资产 othercomprehensiveincome 时转拨 – – – – – – – – – 642 (642) – – – Repurchaseofshares 购回股份 (563) – – – (84,270) – – – – – – (84,833) – (84,833) Acquisitionofsubsidiaries 收购附属公司 680 152,320 – – – – – – – – – 153,000 – 153,000 Transfertostatutoryreserve 转拨至法定储备 – – – – – – – (117) – – 117 – – – At31March2019 于二零一九年三月三十一日 9,999 1,573,808 3,508 (36,810) 355,756 3,941 7,283 12,805 – (703,137) 1,139,484 2,366,637 6,557 2,373,194 120 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 1. GENERAL 1. 一般资料 Sparkle Roll Group Limited (the “Company”) is a limited 耀莱集团有限公司(「本公司」)为一间于 liability company incorporated in Bermuda. The address of 百慕达注册成立之有限公司,其注册办 its registered office is Clarendon House, 2 Church Street, 事处地址为Clarendon House, 2 Church Hamilton HM11, Bermuda and its principal place of business is Street, Hamilton HM11, Bermuda,而其 in Hong Kong. The Company’s shares are listed on The Stock 主要营业地点为香港。本公司股份在香 Exchange of Hong Kong Limited (the “Stock Exchange”). 港联合交易所有限公司(「联交所」)上市。 The principal activities of the Company and its subsidiaries 本公司及其附属公司(统称「本集团」)之 (together the “Group”) are distributorships of luxury goods 主要业务为于香港、中国内地及马来西 and automobiles, provision of after-sales services, property 亚从事奢侈品及汽车代理业务,提供售 management services, catering services, property rental 后服务、物业管理服务、餐饮服务、物 services and film investments. The Group’s operations are 业租赁服务及电影投资。 mainly based in Hong Kong, Mainland China and Malaysia. In the opinion of the directors, the immediate holding company 董事认为,本公司之直接控股公司及最 and ultimate holding company of the Company is Sparkle Roll 终控股公司为耀莱控股有限公司,其于 Holdings Limited, which is incorporated in the British Virgin 英属处女群岛注册成立。 Islands. The directors regard ultimate controlling party of the Company 董事视本公司的最终控股方为綦建虹先 to be Mr. Qi Jian Hong (“Mr. Qi”). 生(「綦先生」)。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 121 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 2. BASIS OF PREPARATION 2. 编制基准 The consolidated financial statements have been prepared in 综合财务报表乃根据香港财务报告准则 accordance with Hong Kong Financial Reporting Standards (「香港财务报告准则」)(此统称包括香港 (“HKFRSs”) which in collective term include all individual Hong 会计师公会(「香港会计师公会」)颁布之 Kong Financial Reporting Standards, Hong Kong Accounting 所有适用个别香港财务报告准则、香港 Standards (“HKASs”) and Interpretations issued by the Hong 会计准则(「香港会计准则」)及诠释)以及 Kong Institute of Certified Public Accountants (the “HKICPA”) 香港公司条例之披露规定编制。综合财 and the disclosure requirements of the Hong Kong Companies 务报表亦包括联交所证券上市规则(「上 Ordinance. The consolidated financial statements also include 市规则」)之适用披露规定。 the applicable disclosure requirements of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”). The consolidated financial statements have been prepared 综合财务报表乃按历史成本基准编制, on the historical cost basis except for certain financial 惟若干以公允值计量之金融工具除外。 instruments, which are measured at fair value. It should be noted that accounting estimates and 谨请注意,在编制综合财务报表时须作 assumptions are used in preparation of the consolidated 出会计估计及假设。尽管该等估计乃根 financial statements. Although these estimates are based on 据管理层对目前事件及行动之最佳了解 management’s best knowledge and judgement of current 及判断作出,惟实际结果最终或会与该 events and actions, actual results may ultimately differ 等估计有所出入。涉及更高判断或复杂 from those estimates. The areas involving a higher degree 程度之范围,或假设及估计对综合财务 of judgement or complexity, or areas where assumptions 报表而言属重大之范围于附注5披露。 and estimates are significant to the consolidated financial statements, are disclosed in Note 5. The consolidated financial statements are presented in Hong 综合财务报表以港元(「港元」)呈报,而 Kong dollars (“HK$”), which is also the functional currency of 港元亦即本公司之功能货币。除非另有 the Company. All values are rounded to the nearest thousand 指明,否则所有数值均已四舍五入至最 except when otherwise indicated. 接近之千位。 122 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 则-于二零一八年四月一日生效 In the current year, the Group has applied for the first 于本年度,本集团首次应用以下由 time the following new standards, amendments and 香港会计师公会颁布之新订准则、 interpretations issued by HKICPA, which are relevant to 修订及诠释,有关新订准则、修订 and effective for the Group’s financial statements. 及诠释与本集团之财务报表相关, 并适用于该等财务报表。 Annual Improvements to Amendments to HKFRS 1, 香港财务报告准则 香港财务报告准则 HKFRSs 2014-2016 Cycle First-time adoption of Hong Kong 二零一四年至 第1号之修订本, Financial Reporting Standards 二零一六年周期 首次采纳香港财 之年度改进 务报告准则 Annual Improvements to Amendments to HKAS 28, 香港财务报告准则 香港会计准则第 28号 HKFRSs 2014-2016 Cycle Investments in Associates and 二零一四年至 修订本,于联营 Joint Ventures 二零一六年周期 公司及合营公司 之年度改进 之投资 Amendments to HKFRS 2 Classification and Measurement of 香港财务报告准则 以股份为基础付款之 Share-Based Payment Transactions 第2号之修订 交易的分类及计量 HKFRS 9 Financial Instruments 香港财务报告准则 金融工具 第9号 HKFRS 15 Revenue from Contracts with 香港财务报告准则 来自客户合约之收益 Customers 第15号 Amendments to HKFRS 15 Revenue from Contracts with 香港财务报告准则 来自客户合约之收益 Customers (Clarifications to 第15号之修订 (香港财务报告准则 HKFRS 15) 第15号之澄清) HK(IFRIC)–Int 22 Foreign Currency Transactions and 香港(国际财务 外币交易及预付代价 Advance Consideration 报告诠释委员会) -诠释第22号 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 123 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) Annual Improvements to HKFRSs 2014-2016 Cycle 香港财务报告准则二零一四年至二 – Amendments to HKFRS 1, First-time Adoption of 零一六年周期之年度改进-香港财 Hong Kong Financial Reporting Standards 务报告准则第1号之修订,首次采 纳香港财务报告准则 The amendments issued under the annual improvements 根据年度改进过程颁布的该等修订 process make small, non-urgent changes to standards 对现时并不明确的多项准则作出微 where they are currently unclear. They include 细及不急切的修改。其中包括香港 amendments to HKFRS 1, First-time Adoption of Hong 财务报告准则第1号之修订,首次 Kong Financial Reporting Standards, removing transition 采纳香港财务报告准则,该修订删 provision exemptions relating to accounting periods 去了与已结束因而不再适用会计期 that had already passed and were therefore no longer 间有关之过渡条文豁免。 applicable. The adoption of these amendments has no impact on 因与过渡条文豁免有关的期间已结 these financial statements as the periods to which the 束,故采纳有关修订对本财务报表 transition provision exemptions related have passed. 并无影响。 Annual Improvements to HKFRSs 2014-2016 香港财务报告准则二零一四年至二 Cycle-Amendments to HKAS 28, Investments in 零一六年周期之年度改进-香港会 Associates and Joint Ventures 计准则第28号之修订,于联营公司 及合营公司之投资 The amendments issued under the annual improvements 根据年度改进过程颁布的该等修订 process make small, non-urgent changes to standards 对现时并不明确的多项准则作出微 where they are currently unclear. They include 细及不急切的修改。其中包括对香 amendments to HKAS 28, Investments in Associates 港会计准则第28号,于联营公司及 and Joint Ventures, clarifying that a venture capital 合营公司之投资之修订,该修订澄 organisation’s permissible election to measure its 清风险资本机构可选择按公允值计 associates or joint ventures at fair value is made 量联营公司或合营公司时,可对每 separately for each associate or joint venture. 间联营公司或合营公司分别作出有 关选择。 The adoption of these amendments has no impact on 因本集团并非为风险资本机构,故 these financial statements as the Group is not a venture 采纳有关修订对本财务报表并无影 capital organisation. 响。 124 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) Amendments to HKFRS 2 – Classification 香港财务报告准则第2号之修订- and Measurement of Share-Based Payment 以股份为基础付款之交易的分类及 Transactions 计量 The amendments provide requirements on the 有关修订订明归属及非归属条件对 accounting for the effects of vesting and non-vesting 现金结算以股份为基础付款之计量 conditions on the measurement of cash-settled share- 的影响;因预扣税责任具有净额结 based payments; share-based payment transactions with 算特征之以股份为基础付款交易; a net settlement feature for withholding tax obligations; 以及使交易类别由现金结算变更为 and a modification to the terms and conditions of a 权益结算以股份为基础付款条款及 share-based payment that changes the classification of 条件之修订之会计处理规定。 the transaction from cash-settled to equity-settled. The adoption of these amendments has no impact on 因本集团并无现金结算以股份为基 these financial statements as the Group does not have 础付款之交易及因预扣税具有净额 any cash-settled share-based payment transaction 结算特征之以股份为基础付款交 and has no share-based payment transaction with net 易,故采纳有关修订对本财务报表 settlement features for withholding tax. 并无影响。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 125 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments 香港财务报告准则第9号-金融工 具 Classification and measurement of financial 金融工具的分类及计量 instruments HKFRS 9 replaces HKAS 39 Financial Instruments: 香港财务报告准则第9号于二零 Recognition and Measurement for annual periods 一八年一月一日或以后开始的年度 beginning on or after 1 January 2018, bringing together 期间取代香港会计准则第39号金融 all three aspects of the accounting for financial 工具:确认及计量,合并金融工具 instruments: (1) classification and measurement; (2) 会计之所有三个方面:(1)分类及计 impairment; and (3) hedge accounting. The adoption 量;(2)减值;及(3)对冲会计。自二 of HKFRS 9 from 1 April 2018 has resulted in changes 零一八年四月一日起采纳香港财务 in accounting policies of the Group and the amounts 报告准则第9号已导致本集团会计 recognised in the consolidated financial statements. 政策及于综合财务报表确认之金额 产生变动。 HKFRS 9 carries forward the recognition, classification 香港财务报告准则第9号贯彻香港 and measurement requirements for financial liabilities 会计准则第39号有关金融负债之 from HKAS 39, except for financial liabilities designated 确认、分类及计量的规定,惟指定 at fair value through profit or loss (“FVTPL”), where the 按公允值计入损益(「按公允值计入 amount of change in fair value attributable to change 损益」)计量的金融负债除外,该负 in credit risk of the liability is recognised in other 债信贷风险变动引致的公允值变动 comprehensive income unless that would create or 金额,乃于其他全面收入确认,除 enlarge an accounting mismatch. In addition, HKFRS 9 非此举将产生或扩大会计错配则作 retains the requirements in HKAS 39 for derecognition 别论。此外,香港财务报告准则第 of financial assets and financial liabilities. However, it 9号保留香港会计准则第39号有关 eliminates the previous HKAS 39 categories for financial 终止确认金融资产及金融负债的规 assets of held-to-maturity financial assets, loans and 定。然而,其取消了原来香港会计 receivables and available-for-sale financial assets. The 准则第39号中持至到期金融资产、 adoption of HKFRS 9 has no material impact on the 贷款及应收款项以及可供出售金融 Group’s accounting policies related to financial liabilities 资产的金融资产类别。采纳香港财 and derivative financial instruments. The impact of 务报告准则第9号并不会对本集团 HKFRS 9 on the Group’s classification and measurement 有关金融负债及衍生金融工具的会 of financial assets is set out below. 计政策造成重大影响。香港财务报 告准则第9号对本集团金融资产分 类及计量的影响载列如下。 126 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Classification and measurement of financial 金融工具的分类及计量(续) instruments (Continued) Under HKFRS 9, except for certain trade receivables 根据香港财务报告准则第9号,除 (that the trade receivables do not contain a significant 若干应收贸易款项(根据香港财务 financing component in accordance with HKFRS 15), 报告准则第15号,应收贸易款项 an entity shall, at initial recognition, measure a financial 并无包括重大的融资成分)外,实 asset at its fair value plus, in the case of a financial 体于初步确认时,将按公允值计量 asset not at FVTPL, transaction costs. A financial asset 金融资产,倘金融资产并非按按公 is classified as: (i) financial assets at amortised cost 允值计入损益计量,则另加交易成 (“amortised costs”); (ii) financial assets at fair value 本。金融资产分类为:(i)按摊销成 through other comprehensive income (“FVTOCI”); 本(「摊销成本」)计量的金融资产; or (iii) FVTPL. The classification of financial assets (ii)按允平值计入其他全面收入(「按 under HKFRS 9 is generally based on two criteria: (i) 公平值计入其他全面收入」)计量 the business model under which the financial asset is 的金融资产;或(iii) 按公平值计入 managed and (ii) its contractual cash flow characteristics 损益。根据香港财务报告准则第9 (the “solely payments of principal and interest” criterion, 号的金融资产分类一般根据两个准 also known as “SPPI criterion”). Under HKFRS 9, 则:(i) 管理金融资产的业务模式及 embedded derivative is no longer required to be (ii)其合约现金流特征(「仅为支付本 separated from a host financial asset. Instead, the hybrid 金及利息」准则,亦称为「SPPI准 financial instrument is assessed as a whole for the 则」)。根据香港财务报告准则第9 classification. 号,内含衍生工具无须与主体金融 资产分开列示。取而代之,混合式 金融工具分类时须整体评估。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 127 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Classification and measurement of financial 金融工具的分类及计量(续) instruments (Continued) A financial asset is measured at amortised cost if it meets 当金融资产同时符合以下条件,且 both of the following conditions and it has not been 并无指定为按公允值计入损益,则 designated as at FVTPL: 该金融资产按摊销成本计量: It is held within a business model whose objective 其由一个旨在通过持有金融 is to hold financial assets in order to collect 资产收取合约现金流量的业 contractual cash flows; and 务模式所持有;及 The contractual terms of the financial asset give rise 该金融资产的合约条款于特 on specified dates to cash flows that meet the SPPI 定日期可提高现金流量, 而 criterion. 该现金流量为就符合SPPI 准 则。 A debt investment is measured at FVTOCI if it meets 倘债务投资同时符合以下条件,且 both of the following conditions and it has not been 并无指定为按公平值计入损益,则 designated as at FVTPL: 该债务投资按公允值计入其他全面 收益: It is held within a business model whose objective is 在目的乃同时通过收取合约 to be achieved by both collecting contractual cash 现金流量及出售金融资产达 flows and selling financial assets; and 致的业务模式中持有;及 The contractual terms of the financial asset give rise 该金融资产的合约条款规定 on specified dates to cash flows that meet the SPPI 于特定日期产生符合SPPI 准 criterion. 则的现金流量。 128 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Classification and measurement of financial 金融工具的分类及计量(续) instruments (Continued) On initial recognition of an equity investment that is not 于初次确认并非持作买卖用途之股 held for trading, the Group could irrevocably elect to 权投资时,本集团可不可撤回地选 present subsequent changes in the investment’s fair 择于其他全面收入中呈列投资公允 value in other comprehensive income. This election is 值之后续变动。该选择乃按投资逐 made on an investment-by-investment basis. All other 项作出。所有其他上述并非分类为 financial assets not classified at amortised cost or 摊销成本计量或按公允值计入其他 FVTOCI as described above are classified as FVTPL. 全面收入之金融资产,均分类为按 This includes all derivative financial assets. On initial 公允值计入损益。此包括所有衍生 recognition, the Group may irrevocably designate a 金融资产。于初次确认时,本集团 financial asset that otherwise meets the requirements 可不可撤回地指定金融资产(于其 to be measured at amortised cost or FVTOCI at FVTPL 他方面符合按摊销成本计量或按公 if doing so eliminates or significantly reduces an 允值计入其他全面收入之规定)为 accounting mismatch that would otherwise arise. 按公允值计入损益,前提为有关指 定可消除或大幅减少会计错配发 生。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 129 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Classification and measurement of financial 金融工具的分类及计量(续) instruments (Continued) The following accounting policies would be applied to the 以下会计政策将适用于本集团的金 Group’s financial assets as follows: 融资产: FVTPL FVTPL is subsequently measured 按公允值 按公允值计入损益之 at fair value. Changes in fair value, 计入损益 金融资产其后按公允 dividends and interest income are 值 计 量。 公 允 值 变 recognised in profit or loss. 动、股息及利息收入 于损益表确认。 Amortised cost Financial assets at amortised cost 摊销成本 按摊销成本列账的金 are subsequently measured using 融资产其后采用实际 the effective interest rate method. 利率法计量。利息收 Interest income, foreign exchange 入、汇兑损益及减值 gains and losses and impairment are 均于损益中确认。终 recognised in profit or loss. Any gain 止确认的任何收益均 on derecognition is recognised in 于损益中确认。 profit or loss. FVTOCI (equity Equity investments at fair value 按公允值 按公允值计入其他全 instruments) through other comprehensive 计入其他 面收入之股权投资按 income are measured at fair value. 全面收入 公允值计量。股息收 Dividend income is recognised in (股权 入于损益表确认,除 profit or loss unless the dividend 投资) 非股息收入明确代表 i n c o m e c l e a r l y r e p r e s e n t s a 部 份 投 资 成 本 之 收 recovery of part of the cost of the 回。其他损益净额于 investments. Other net gains and 其他全面收入确认, losses are recognised in other 且并无重新分类至损 comprehensive income and are not 益表。 reclassified to profit or loss. 130 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Classification and measurement of financial 金融工具的分类及计量(续) instruments (Continued) As of 1 April 2018, certain listed equity investments were 于二零一八年四月一日,若干上市 reclassified from available-for-sale financial assets at fair 股权投资已由可供出售金融资产重 value to financial assets at FVTOCI. The Group intends 新分类至按公允值计入其他全面收 to hold these equity investments for long term strategic 入之金融资产。本集团拟持有该等 purposes. Under HKFRS 9, the Group has designated 股权投资作长期战略用途。根据香 these equity investments at the date of initial application 港财务报告准则第9号,本集团已 as measured at FVTOCI. As a result, financial assets with 于初始应用日期指定该等股权投资 a fair value of HK$1,291,321,000 was reclassified from 为按公允值计入其他全面收入计 available-for-sale financial assets at fair value to FVTOCI 量。因此,于二零一八年四月一 on 1 April 2018. 日,公允值为1,291,321,000港元 的金融资产已由可供出售金融资产 重新分类为按公允值计入其他全面 收入之金融资产。 As at 1 April 2018, the opening balance of available- 于二零一八年四月一日,可供出 for-sale financial assets reserve of HK$64,243,000 was 售 金 融 资 产 储 备 之 期 初 结 余 为 transferred to fair value reserve (non-recycling). 64,243,000港元,转拨至公允值储 备(不可拨回)。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 131 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Classification and measurement of financial 金融工具的分类及计量(续) instruments (Continued) The following table summarises the original measurement 下表概述本集团于二零一八年四月 categories under HKAS 39 and the new measurement 一日各类金融资产根据香港会计准 categories under HKFRS 9 for each class of the Group’s 则第39号原有计量类别及根据香港 financial assets as at 1 April 2018: 财务报告准则第9号的新计量类别: Carrying amount Carrying amount Original classification New classification as at 1 April 2018 as at 1 April 2018 Financial assets under HKAS 39 under HKFRS 9 under HKAS 39 under HKFRS 9 根据香港会计 根据香港财务 准则第39号 报告准则第9号 根据香港会计准则 根据香港财务报告 于二零一八年 于二零一八年 金融资产 第39号的原有类别 准则第9号的新类别 四月一日的账面值 四月一日的账面值 HK$’000 HK$’000 千港元 千港元 Listed equity investments Available-for-sale (at fair value) FVTOCI 1,291,321 1,291,321 上市股权投资 可供出售(按公允值) 按公允值计入其他全面收入 Deposits paid for acquisition of a Loans and receivables Amortised cost 135,802 135,802 property holding company 收购一间物业控股公司已付之按金 贷款及应收款项 摊销成本 Rental deposits paid to a Loans and receivables Amortised cost 15,812 15,812 related party 已付一名关联方租金按金 贷款及应收款项 摊销成本 Trade receivables Loans and receivables Amortised cost 5,342 5,342 应收贸易款项 贷款及应收款项 摊销成本 Other receivables Loans and receivables Amortised cost 150,841 150,841 其他应收款项 贷款及应收款项 摊销成本 Amounts due from related parties Loans and receivables Amortised cost 1,729 1,729 应收关联方款项 贷款及应收款项 摊销成本 Investment in debt securities Loans and receivables Amortised cost 440,000 440,000 投资债务证券 贷款及应收款项 摊销成本 Loan receivables Loans and receivables Amortised cost 127,376 127,376 应收贷款 贷款及应收款项 摊销成本 Pledged deposits Loans and receivables Amortised cost 91,357 91,357 已抵押存款 贷款及应收款项 摊销成本 Restricted bank balance Loans and receivables Amortised cost 5,304 5,304 受限制银行结余 贷款及应收款项 摊销成本 Cash at banks and in hand Loans and receivables Amortised cost 155,650 155,650 银行及手头现金 贷款及应收款项 摊销成本 132 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Impairment of financial assets 金融资产减值 The adoption of HKFRS 9 has changed the Group’s 采纳香港财务报告准则第9号更改 impairment model by replacing the HKAS 39 “incurred 本集团的减值模式,将由香港会计 loss model” to the “expected credit losses (“ECLs”) 准则第39号「已产生亏损模式」更 model”. HKFRS 9 requires the Group to recognise ECL 改为「预期信贷亏损」模式。香港财 for trade receivables and financial assets at amortised 务报告准则第9号规定本集团以较 costs earlier than HKAS 39. Cash and cash equivalents 香港会计准则第39号为先就应收贸 are subject to ECL model but the impairment is 易款项及按摊销成本列账的金融资 immaterial for the current period. 产确认预期信贷亏损。现金及现金 等值项目须受预期信贷亏损模式所 限,惟即期减值并不重大。 Under HKFRS 9, the loss allowances are measured on 根据香港财务报告准则第9号,亏 either of the following bases: (1) 12 months ECLs: these 损拨备按以下其中一项基准计量: are the ECLs that result from possible default events (1) 12个月的预期信贷亏损:其为 within the 12 months after the reporting date; or (2) 于报告日期后12个月内发生的潜 lifetime ECLs: these are ECLs that result from all possible 在违约事件导致的预期信贷亏损; default events over the expected life of a financial 或(2) 整个存续期内预期信贷亏损: instrument. 此乃于金融工具预计年期内所有可 能发生的潜在违约事件导致的预期 信贷亏损。 Measurement of ECLs 预期信贷亏损的计量 ECLs are based on the difference between the 预期信贷亏损乃基于根据合约应付 contractual cash flows due in accordance with the 的合约现金流量与本集团预期收取 contract and all the cash flows that the Group expects 的所有现金流量之间的差额计量。 to receive. The shortfall is then discounted at an 该差额其后按资产原有实际利率相 approximation to the assets’ original effective interest 近的差额贴现。 rate. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 133 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Measurement of ECLs (Continued) 预期信贷亏损的计量(续) The Group has elected to measure loss allowances for 本集团已选用根据香港财务报告准 trade receivables using HKFRS 9 simplified approach and 则第9号简化法计量应收贸易款项 has calculated ECLs based on lifetime ECLs. The Group 的亏损拨备并根据整个存续期内预 has established a provision matrix that is based on the 期信贷亏损计算预期信贷亏损。本 Group’s historical credit loss experience, adjusted for 集团已设立根据本集团过往信贷亏 forward-looking factors specific to the debtors and the 损经验计算的拨备矩阵,并按与应 economic environment. 收账款相关之前瞻性因素及经济条 件调整。 For other debt financial assets, the ECLs are based on 就其他债务金融资产而言,预期信 the 12-month ECLs. The 12-month ECLs are the portion 贷亏损根据12个月的预期信贷亏 of the lifetime ECLs that results from default events on a 损厘定。12个月的预期信贷亏损为 financial instrument that are possible within 12 months 整个存续期内预期信贷亏损的一部 after the reporting date. However, when there has been 份,其源自可能在报告日期后的12 a significant increase in credit risk since origination, 个月内发生的金融工具违约事件。 the allowance will be based on the lifetime ECLs. When 然而,自发生以来信贷风险显著增 determining whether the credit risk of a financial asset 加时,拨备将以整个存续期内预期 has increased significantly since initial recognition and 信贷亏损为基准。当厘定金融资产 when estimating ECL, the Group considers reasonable 的信贷风险是否自初步确认后大幅 and supportable information that is relevant and 增加,并于估计预期信贷亏损时, available without undue cost or effort. This includes both 本集团考虑到相关及无须付出过多 quantitative and qualitative information and analysis, 成本或努力后即可获得的合理及可 based on the Group’s historical experience and informed 靠资料。此包括根据本集团的过往 credit assessment and including forward-looking 经验及已知信贷评估得出定量及定 information. 性之资料及分析,并包括前瞻性资 料。 134 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Measurement of ECLs (Continued) 预期信贷亏损的计量(续) The Group assumes that the credit risk on a financial 倘已逾期超过30日,本集团会假设 asset has increased significantly if it is more than 30 days 金融资产信贷风险已大幅增加。 past due. The Group considers a financial asset to be in default 本集团于下列情况下认为金融资产 when: (1) the borrower is unlikely to pay its credit 违约:(1)借款人不大可能全额支付 obligations to the Group in full, without recourse by the 其对本集团的信贷责任,而本集团 Group to actions such as realising security (if any is held); 并无追讨实现担保的行动(如有任 or (2) the financial asset is more than 90 days past due. 何保证);或(2)该金融资产逾期超 过90天。 The maximum period considered when estimating ECL is 于估计预期信贷亏损时所考虑的最 the maximum contractual period over which the Group is 长期间为本集团面临信贷风险的最 exposed to credit risk. 长合约期间。 Presentation of ECLs 预期信贷亏损的呈列 Loss allowances for financial assets measured at 以摊销成本计量的金融资产的亏损 amortised cost are deducted from the gross carrying 拨备从资产的账面总额中扣除。 amount of the assets. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 135 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Impact of the ECL model 预期信贷亏损模式的影响 Impairment of trade receivables 应收贸易款项的减值 As mentioned above, the Group applies the HKFRS 9 诚如上文所述,本集团应用香港财 simplified approach to measure ECLs which recognises 务报告准则第9号简化法计量预期 lifetime ECLs for all trade receivables. To measure the 信贷亏损,对于所有应收贸易款项 ECLs, trade receivables have been grouped based on 确认整个存续期内预期信贷亏损。 shared credit risk characteristics and the days past 为计量预期信贷亏损,该等应收贸 due. No additional impairment for trade receivables 易款项已根据摊分信贷风险之特点 as at 1 April 2018 is recognised as the amount of 及逾期天数分类。于二零一八年四 additional impairment measured under the ECLs model is 月一日,概无就应收贸易款项确认 immaterial. 额外减值,因根据预期信贷亏损模 式计量之额外减值金额并不重大。 Impairment of other receivables 其他应收款项的减值 Other financial assets at amortised cost of the Group 本集团按摊销成本计量的其他金融 include other receivables, investment in debt securities 资产包括其他应收款项、投资债务 and loan receivables. Applying the ECLs model, no 证券及应收贷款。于应用预期信贷 additional impairment as at 1 April 2018 was recognised 亏损模式时,于二零一八年四月一 as the amount of the impairment measured under the 日概无确认额外减值,因根据预期 ECLs model is immaterial. 信贷亏损模式计量之减值金额并不 重大。 136 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Impact of the ECL model (Continued) 预期信贷亏损模式的影响(续) Transition 过渡 The Group has applied the transitional provision in HKFRS 本集团已应用香港财务报告准则 9 such that HKFRS 9 was generally adopted without 第9号之过渡性条文,以使香港财 restating comparative information. The reclassifications 务报告准则第9号全面获采纳而毋 and the adjustments arising from the new ECLs rules 须重列可资比较资料。因此,新预 are therefore not reflected in the statement of financial 期信贷亏损规则产生之重新分类及 position as at 31 March 2018, but are recognised in 调整并无于二零一八年三月三十一 the statement of financial position on 1 April 2018. This 日的财务状况表中反映,惟于二零 means that differences in the carrying amounts of financial 一八年四月一日的财务状况表中确 assets and financial liabilities resulting from the adoption 认。此意味著因采纳香港财务报告 of HKFRS 9 are recognised in reserves as at 1 April 2018. 准则第9号产生之金融资产与金融 Accordingly, the information presented for 2018 does not 负债账面值差异,乃于二零一八年 reflect the requirements of HKFRS 9 but rather those of 四月一日之储备中确认。因此,就 HKAS 39. 二零一八年呈列之资料并无反映香 港财务报告准则第9号之规定,惟 反映香港会计准则第39号之规定。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 137 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 9 – Financial Instruments (Continued) 香港财务报告准则第9号-金融工 具(续) Impact of the ECL model (Continued) 预期信贷亏损模式的影响(续) Transition (Continued) 过渡(续) The following assessments have been made on the basis 本集团已基于首次应用香港财务报 of the facts and circumstances that existed at the date of 告准则第9号的日期(「首次应用日 initial application of HKFRS 9 (the “DIA”): 期」)存在的事实及情况作出以下评 估: The determination of the business model within 确定持有金融资产的业务模 which a financial asset is held; 式; The designation and revocation of previous designations 将若干金融资产及金融负债 of certain financial assets and financial liabilities as 撤销原来指定并指定为按公 measured at FVTPL; and 允值计入损益;及 The designation of certain investments in equity 将并非持作买卖的股权投资 investments not held for trading as at FVTOCI. 中的若干投资指定为按公允 值计入其他全面收入。 If an investment in a debt investment had low credit risk 倘一项债务投资中的投资于首次应 at the DIA, the Group has assumed that the credit risk on 用日期时具低信贷风险,本集团已 the asset had not increased significantly since its initial 假设该资产的信贷风险并无自初步 recognition. 确认后显著增加。 138 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 户合约之收益及香港财务报告准则 第15号之修订 HKFRS 15 supersedes HKAS 11 Construction Contracts, 香港财务报告准则第15号取代香港 HKAS 18 Revenue and related interpretations. HKFRS 会计准则第11号建筑合约、香港会 15 has established a five-step model to account for 计准则第18号收益及相关诠释。香 revenue arising from contracts with customers. Under 港财务报告准则第15号已建立一个 HKFRS 15, revenue is recognised at the amount that 五步模式,以计算来自客户合约之 reflects the consideration to which an entity expects to 收益。根据香港财务报告准则第15 be entitled in exchange for transferring goods or services 号,收益确认的金额乃反映实体期 to a customer. 望拥有以换取向客户转移货品或服 务之权利。 HKFRS 15 introduces a five-step model when 香港财务报告准则第15号于确认收 recognising revenue: 益时引入五个步骤模式: Step 1: Identify the contract(s) with a customer 步骤1: 识别与客户的合约 Step 2: Identify the performance obligations in the 步骤2: 识别合约的履约责任 contract Step 3: Determine the transaction price 步骤3: 厘定交易价 Step 4: Allocate the transaction price to each 步骤4: 将交易价摊分至每项履 performance obligation 约责任 Step 5: Recognise revenue when each performance 步骤5: 当每项履约责任达成时 obligation is satisfied 确认收益 The standard requires entities to exercise judgement, 该准则要求实体行使判断,于应用 taking into consideration all of the relevant facts and 该模式各步骤与客户订约时考虑所 circumstances when applying each step of the model to 有相关事实及情况。 contracts with their customers. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 139 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) The Group has adopted HKFRS 15 using the cumulative 本集团已采用累计影响法采纳香港 effect method without practical expedients. The Group 财务报告准则第15号(无可行权宜 has recognised the cumulative effect of initially applying 方法)。 本集团已将首次应用香港 HKFRS 15 as an adjustment to the opening balance of 财务报告准则第15号之累计影响确 retained earnings at the date of initial application (that 认为于首次应用日期(即二零一八 is, 1 April 2018). As a result, the financial information 年四月一日)对保留溢利期初结余 presented for 2018 has not been restated. 的调整。因此,就二零一八年呈列 之财务资料并未重新呈列。 The following tables summarised the impact of adopting 下表概述采纳香港财务报告准则第 HKFRS 15 on the opening and closing balances of the 15号对本集团于二零一九年三月 Group’s consolidated statement of financial position as 三十一日之综合财务状况表之期初 at 31 March 2019. 及期末结余之影响: 140 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) Impact on the consolidated statement of financial 对综合财务状况表之影响: position: Amounts reported Hypothetical in accordance amounts under with HKFRS 15 HKAS 18 根据香港财务 根据香港会计 报告准则第15号 准则第18号 呈报之金额 得出之假设金额 HK$’000 HK$’000 千港元 千港元 Liabilities – opening balances 负债-期初结余 Current liabilities 流动负债 Contract liabilities 合约负债 195,479 – Receipts in advance, accrued 预收款项、应计费用 charges and other payables 及其他应付款项 – 195,479 Liabilities – closing balances 负债-期末结余 Current liabilities 流动负债 Contract liabilities 合约负债 235,034 – Receipts in advance, accrued 预收款项、应计费用 charges and other payables 及其他应付款项 – 235,034 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 141 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) The directors consider that the application of HKFRS 本公司董事认为,应用香港财务报 15 does not have a material impact on the timing and 告准则第15号对于在首次采纳后于 amounts of revenue recognised for contracts with 相关报告期间就客户合约收益确认 customers in the respective reporting periods upon its 之时间及金额并无重大影响,原因 initial adoption because the directors are of the view that 为董事认为,本集团之输入资料预 the Group’s inputs are expected to be proportionate, 期会在重大方面与经参照本集团之 in material aspect, to the progress in satisfying the 一般合约后所厘定履行提供货品或 performance obligation in rendering the goods or 服务的责任之进度成比例。 services with reference to the Group’s typical contracts. 142 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) Details of the new significant accounting policies and the 有关本集团各项货品及服务的新订 nature of the changes to previous accounting policies in 重大会计政策及相对原会计政策的 relation to the Group’s various goods and services are 变动性质详情载列如下: set out below: Nature of the goods or services, satisfaction of performance Nature of change in accounting Note Product/service obligations and payment terms policy and impact on 1 April 2018 货品或服务性质、 二零一八年四月一日会计政策的 附注 产品╱服务 达成履约责任及支付条款 变动性质及影响 (a) Sales of Customer obtains control of the automobiles and HKFRS 15 did not result in significant impact on automobiles revenue is recognised. Factors to determine when the Group’s accounting policies. However, upon the customers obtain control of automobiles include the adoption of HKFRS 15, the Group has to make issuance of registration documents (applicable to reclassification from receipts in advance, accrued certain jurisdictions), full payments have been made, charges and other payables to contract liabilities since and the goods have been delivered to and accepted by under HKFRS 15, a contract liability is recognised when the customers. a customer pays consideration, or is contractually required to pay consideration and the amount is already There is generally only one performance obligation. due, before the Group recognises the related revenue. There are no right of return, discounts, rebates, refunds, price concessions, incentive, penalties, or similar terms in the sales order. (a) 销售汽车 客户取得汽车的控制权及确认收益。决定客户何时获得 香港财务报告准则第15号对本集团会计政策并无重大影 汽车的控制权因素包括签发登记文件(适用于某些司法管 响。然而,采纳香港财务报告准则第15号时,本集团须 辖区),已经全额付款并且货品已经交付给客户并被客户 将预收款项、应计费用及其他应付款项重新分类为合约 接受。 负债,因为根据香港财务报告准则第15号,当客户支付 代价或按合约规定支付代价且金额已到期时,合约负债 一般仅有一项履约义务。 在本集团确认相关收益前确认。 销售订单内并无退回权、折扣、回扣、退款、价格优 惠、激励款、罚则或类似条款。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 143 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) Nature of the goods or services, satisfaction of performance Nature of change in accounting Note Product/service obligations and payment terms policy and impact on 1 April 2018 货品或服务性质、 二零一八年四月一日会计政策的 附注 产品╱服务 达成履约责任及支付条款 变动性质及影响 (b) Sales of other Revenue from the sale of goods represents the net Right of return merchandised invoiced value of goods sold, after allowances for Under HKAS 18, revenue for these contracts was goods returns, trade discounts and value added tax and is recognised when a reasonable estimate of the returns recognised at the point in time when control of the could be made, provided that all other revenue asset is transferred to the customer, generally on recognition criteria are met. If a reasonable estimate delivery of the goods. could not be made, such revenue would be deferred until the return period lapsed or a reasonable estimate could be made. (b) 销售其他商品 销售货品之收益指已售货品之发票净值,并经扣除退 退货权 货、贸易折扣及增值税拨备,以及于该资产之控制权转 根据香港会计准则第18号,此等合约之收益于可作出 移予客户之时间点(一般发生在货品交付时)确认。 合理退还估计时确认,前提是符合所有其他收益确认标 准。倘无法作出合理估计,则有关收益递延至退还期失 效或可作出合理估计为止。 144 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) Nature of the goods or services, satisfaction of performance Nature of change in accounting Note Product/service obligations and payment terms policy and impact on 1 April 2018 货品或服务性质、 二零一八年四月一日会计政策的 附注 产品╱服务 达成履约责任及支付条款 变动性质及影响 (b) Sales of other Right of return Under HKFRS 15, right of return gives rise to variable merchandised Some contracts for the sale of other merchandised consideration. The variable consideration is estimated goods (continued) goods through e-shop provide customers with a right at contract inception and constrained until the of return. The right of return gives rise to variable associated uncertainty is subsequently resolved. consideration. The application of the constraint on variable consideration increases the amount of revenue that will be deferred. In addition, a refund liability and a right to recover returned goods assets are recognised. The management assessed the impact on 1 April 2018 is immaterial. (b) 销售其他商品(续) 退货权 根据香港财务报告准则第15号,退货权产生可变代价。 若干透过网上商舖销售其他商品的合约会提供客户一项 可变代价于合约开始时估计,并受限制,直至有关不明 退货权。退货权产生可变代价。 朗因素其后解决为止。 对可变代价施加限制增加递延收益金额。此外,亦确认 退款负债及收回退还货品资产权。 管理层评估于二零一八年四月一日的影响并不重大。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 145 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) Nature of the goods or services, satisfaction of performance Nature of change in accounting Note Product/service obligations and payment terms policy and impact on 1 April 2018 货品或服务性质、 二零一八年四月一日会计政策的 附注 产品╱服务 达成履约责任及支付条款 变动性质及影响 (c) Provision of after- Revenue arising from maintenance services is HKFRS 15 did not result in significant impact on the sales services recognised over time as the customers simultaneously Group’s accounting policies. Upon the adoption of received and consume the benefit of the Group’s HKFRS 15, the Group should make a reclassification performance. This is generally only one performance from trade and other receivables to contract assets if obligation. there is any satisfied performance obligation but where the entity does not have an unconditional right to consideration. However, as the Group has unconditional right to consideration for all satisfied performance obligation as at 1 April 2018, no contract asset was recognised. (c) 提供售后服务 维修服务产生之收益随时间确认,因为客户同时收取并 香港财务报告准则第15号并无对本集团的会计政策产生 耗用本集团履约所提供的利益。一般而言,只有一项履 重大影响。于采纳香港财务报告准则第15号后,倘存在 约责任。 任何已达成履约责任但实体并无一项无条件权利收取代 价,本集团应将应收贸易款项及其他应收款项重新分类 至合约资产。 然而,由于本集团于二零一八年四月一日有无条件权利 收取所有已达成履约责任的代价,故并无确认合约资产。 146 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) Nature of the goods or services, satisfaction of performance Nature of change in accounting Note Product/service obligations and payment terms policy and impact on 1 April 2018 货品或服务性质、 二零一八年四月一日会计政策的 附注 产品╱服务 达成履约责任及支付条款 变动性质及影响 (d) Provision of The provision of catering services for which the services HKFRS 15 did not result in significant impact on the catering services are rendered over time when the related services have Group’s accounting policies. been rendered to the customers. Payment is made upon the completion of catering services. This segment is newly acquired during the year ended 31 March 2019, and hence, there is no impact on 1 April 2018. (d) 提供餐饮服务 于向客户提供餐饮服务时,则随时间提供相关服务。于 香港财务报告准则第15号并无对本集团的会计政策产生 餐饮服务完成后作出付款。 重大影响。 本分部为于截至二零一九年三月三十一日止年度新购 入,因此,对二零一八年四月一日并无影响。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 147 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) Nature of the goods or services, satisfaction of performance Nature of change in accounting Note Product/service obligations and payment terms policy and impact on 1 April 2018 货品或服务性质、 二零一八年四月一日会计政策的 附注 产品╱服务 达成履约责任及支付条款 变动性质及影响 (e) Provision of property The Group enters into a contract with the property owners HKFRS 15 did not result in significant impact on the management services and performs more than one performance obligation. Group’s accounting policies. Revenue arising from property management services This segment is newly acquired during the year ended is recognised over time as the property owners and 31 March 2019, hence, there is no impact on 1 April customers simultaneously receive and consume the 2018. benefit of the Group’s performances. Payment is made quarterly upon the completion of services. (e) 提供物业管理服务 本集团与物业业主订立合约并履行超过一项履约责任。 香港财务报告准则第15号并无对本集团的会计政策产生 重大影响。 物业管理服务产生之收益随时间确认,因为物业业主及 本分部为于截至二零一九年三月三十一日止年度新购 客户同时收取并耗用本集团履约所提供的利益。于服务 入,因此,对二零一八年四月一日并无影响。 完成后,按季度作出付款。 The amendments to HKFRS 15 included clarifications on 香港财务报告准则第15号之修订包 identification of performance obligations; application of 括对以下各项的澄清:对履约责任 principal versus agent; licenses of intellectual property; 的识别;应用委托人及代理人;知 and transition requirements. 识产权许可;及过渡规定。 148 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (a) Adoption of new/revised HKFRSs – effective on 1 (a) 采纳新订╱经修订香港财务报告准 April 2018 (Continued) 则-于二零一八年四月一日生效 (续) HKFRS 15 Revenue from Contracts with Customers 香港财务报告准则第15号-来自客 and amendments to HKFRS 15 (Continued) 户合约之收益及香港财务报告准则 第15号之修订(续) The adoption of these amendments has no impact 由于本集团先前并无采纳香港财务 on these financial statements as the Group had 报告准则第15号并首次于本年度采 not previously adopted HKFRS 15 and took up the 纳该等澄清,故采用该等修订并无 clarifications in this, its first, year. 对本财务报表造成影响。 HK(IFRIC)-Int 22 – Foreign Currency Transactions 香港(国际财务报告诠释委员会)- and Advance Consideration 诠释第22号-外币交易及预付代价 The interpretation provides guidance on determining 该诠释就如何为厘定用于涉及以外 the date of the transaction for determining an exchange 币支付或收取预付代价的交易的汇 rate to use for transactions that involve advance 率而厘定交易日期,以及如何确认 consideration paid or received in a foreign currency and 非货币资产或非货币负债提供指 the recognition of a non-monetary asset or non-monetary 引。该诠释指出,为厘定首次确认 liability. The interpretation specifies that the date of the 相关资产、开支或收入(或当中部 transaction for the purpose of determining the exchange 分)所用的汇率而使用的交易日期 rate to use on initial recognition of the related asset, 为实体首次确认支付或收取预付代 expense or income (or part thereof) is the date on which 价产生的非货币资产或非货币负债 the entity initially recognises the non-monetary asset or 之日。 non-monetary liability arising from the payment or receipt of advance consideration. The adoption of this interpretation has no impact on 由于本集团并无以外币支付或收取 these financial statements as the Group has not paid or 预付代价,故采用该等诠释并无对 received advance consideration in a foreign currency. 本财务报表造成影响。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 149 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (b) New/revised HKFRSs that have been issued but are (b) 已颁布但尚未生效的新订╱经修订 not yet effective 香港财务报告准则 The following new or revised HKFRSs that have been 以下为可能与本集团营运有关的已 issued and are potentially relevant to the Group’s 颁布但尚未生效的新订或经修订香 operations but are not yet effective and have not been 港财务报告准则,本集团并无提前 early adopted by the Group. 采纳有关准则。 HKFRS 16 Leases1 香港财务报告准则第16号 租赁1 HK(IFRIC)-Int 23 Uncertainty over Income Tax Treatments1 香港(国际财务报告诠释 所得税处理的 委员会)-诠释第23号 不确定性1 Amendments to HKAS 1 Definition of Material3 香港会计准则第1号及香港 重大的定义3 and HKAS 8 会计准则第8号之修订 Amendments to HKFRS 3 Definition of a Business2 香港财务报告准则第3号之修订 业务的定义2 Amendments to HKFRS 9 Prepayment Features with Negative Compensation1 香港财务报告准则第9号之修订 具负补偿的提前 还款特性1 Amendments to HKAS 28 Long-term Interests in Associates and Joint Ventures1 香港会计准则第28号之修订 于联营公司及合营 公司的长期权益1 Annual Improvements to Amendments to HKFRS 3, Business Combinations1 香港财务报告准则二零一五年 香港财务报告准则 HKFRSs 2015-2017 Cycle 至二零一七年周期的年度改进 第3号之修订, 业务合并1 Annual Improvements to Amendments to HKAS 12, Income Taxes1 香港财务报告准则二零一五年 香港会计准则第12号 HKFRSs 2015-2017 Cycle 至二零一七年周期的年度改进 之修订,所得税1 Annual Improvements to Amendments to HKAS 23, Borrowing Costs1 香港财务报告准则二零一五年 香港会计准则第23号 HKFRSs 2015-2017 Cycle 至二零一七年周期的年度改进 之修订,借贷成本1 Amendments to HKFRS 10 Sale or Contribution of Assets between an Investor 香港财务报告准则第10号及 投资者与其联营公司 and HKAS 28 and its Associate or Joint Venture4 香港会计准则第28号之修订 或合营公司之间 出售或注入资产4 1 Effective for annual periods beginning on or after 1 January 1 于二零一九年一月一日或之后开始的年 2019 度期间生效 2 Effective for annual periods beginning on or after 1 January 2 于二零二零年一月一日或之后开始之年 2020 度期间生效 3 Effective for transactions that occur on or after 1 January 3 于二零二零年一月一日或之后产生之交 2020 易生效 4 The amendments were originally intended to be effective for 4 该等修订原定于二零一七年一月一日或 periods beginning on or after 1 January 2017. The effective 之后开始的期间生效。生效日期现已延 date has now been deferred/removed. Early application of 迟╱删除。该等修订继续获允许提前应 the amendments continue to be permitted. 用。 150 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (b) New/revised HKFRSs that have been issued but are (b) 已颁布但尚未生效的新订╱经修订 not yet effective (Continued) 香港财务报告准则(续) HKFRS 16 – Leases 香港财务报告准则第16号-租赁 HKFRS 16, which upon the effective date will supersede 香港财务报告准则第16号由生效当 HKAS 17 Leases and related interpretations, introduces 日起将取代香港会计准则第17号租 a single lessee accounting model and requires a lessee 赁及相关诠释,其引入单一承租人 to recognise assets and liabilities for all leases with a 会计处理模式,并规定承租人就为 term of more than 12 months, unless the underlying 期超过12个月的所有租赁确认资产 asset is of low value. Specifically, under HKFRS 16, 及负债,除非相关资产为低价值资 a lessee is required to recognise a right-of-use asset 产则作别论。具体而言,根据香港 representing its right to use the underlying leased asset 财务报告准则第16号,承租人须 and a lease liability representing its obligation to make 确认使用权资产(代表其有权使用 lease payments. Accordingly, a lessee should recognise 相关租赁资产)及租赁负债(代表其 depreciation of the right-of-use asset and interest on 有责任支付租赁款项 )。 因此,承 the lease liability, and also classifies cash repayments of 租人应确认使用权资产折旧及租赁 the lease liability into a principal portion and an interest 负债利息,且应将租赁负债的现金 portion and presents them in the statement of cash 还款分类为本金部分及利息部分, flows. Also, the right-of-use asset and the lease liability 并于现金流量表内呈列。此外,使 are initially measured on a present value basis. The 用权资产及租赁负债初步按现值基 measurement includes non-cancellable lease payments 准计量。计量包括不可撤销租赁付 and also includes payments to be made in optional 款,亦包括在承租人合理地肯定将 periods if the lessee is reasonably certain to exercise 行使选择权延续租赁或行使选择权 an option to extend the lease, or to exercise an option 终止租赁的情况下于选择权期间内 to terminate the lease. This accounting treatment is 作出的付款。此会计处理方法与承 significantly different from the lessee accounting for 租人会计法显著不同,后者适用于 leases that are classified as operating leases under the 根据原准则即香港会计准则第17号 predecessor standard, HKAS 17. 分类为经营租赁的租赁。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 151 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (b) New/revised HKFRSs that have been issued but are (b) 已颁布但尚未生效的新订╱经修订 not yet effective (Continued) 香港财务报告准则(续) HKFRS 16 – Leases (Continued) 香港财务报告准则第16号-租赁 (续) In respect of the lessor accounting, HKFRS 16 就出租人会计处理而言,香港财务 substantially carries forward the lessor accounting 报告准则第16号大致继承香港会计 requirements in HKAS 17. Accordingly, a lessor 准则第17号的出租人会计处理规 continues to classify its leases as operating leases or 定。因此,出租人继续将其租赁分 finance leases, and to account for those two types of 类为经营租赁或融资租赁,并且对 leases differently. 两类租赁进行不同的会计处理。 The Group expects the adoption of the standards 本集团预期将使用经修订追溯法采 using the modified retrospective approach where the 纳该准则,当中首次应用香港财务 cumulative effects of initially applying HKFRS 16 is 报告准则第16号的累计影响将确认 recognised as an adjustment to the opening balance 作为对保留溢利期初结余的调整, of retained earnings and comparative figures are not 且并无重列比较数字。于损益中的 restated. Lease expenses in profit or loss are replaced by 租赁开支将由折旧及利息开支取 depreciation and interest expenses. Adoption of the new 代。相比香港会计准则第17号, standard will be incurred higher expenses in the early 采纳新准则将于租赁期早期将产生 years of lease terms, diminishing over the lease terms 较高开支,并于租赁期内递减,及 and will result lower expenses in the later part of the lease 将导致租赁期内较后时期的开支减 terms when comparing to HKAS 17. 少。 As at 31 March 2019, the Group has non-cancellable 于二零一九年三月三十一日,本集 operating lease commitments of approximately 团拥有不可撤销经营租赁承担约 HK$643,692,000 (Note 37(b)). Of these commitments, 643,692,000港元(附注37(b))。于 no commitment relates to short-term leases which will be 该等承担中,概无与短期租赁有关 recognised on a straight-line basis as expense in profit or 之承担其将以直线法确认为损益账 loss. 中的开支。 152 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (b) New/revised HKFRSs that have been issued but are (b) 已颁布但尚未生效的新订╱经修订 not yet effective (Continued) 香港财务报告准则(续) HKFRS 16 – Leases (Continued) 香港财务报告准则第16号-租赁 (续) For the remaining lease commitments, the Group expects 就余下租赁承担而言,本集团预期 to recognise right-of-use assets and a corresponding 于二零一九年四月一日确认使用 liability of approximately HK$567,000,000 on 1 April 权资产及租应负债约567,000,000 2019. Overall net assets will not be materially changed, 港元。整体资产净值将并无重大 and net current assets will be HK$100,051,000 lower 变 动, 而 流 动 资 产 净 值 由 于 将 due to the presentation of a portion of the liabilities as 部 分 负 债 列 为 流 动 负 债 将 减 少 a current liability. In addition, the application of new 100,051,000港元。此 外,应用新 requirements may result in changes in measurement, 规定可能导致上文所述之计量、呈 presentation and disclosure as indicated above. 列及披露发生变动。 The Group expected that net profit after tax will decrease 由于采纳新规定,本集团预期截至 by approximately HK$11,724,000 for the year ending 31 二零二零年三月三十一日止年度之 March 2020 as a result of adopting the new rules. 除税后纯利将减少约11,724,000港 元。 Operating cash flows will increase and financing cash 由于租赁负债之本金部分还款将分 flows decrease by approximately HK$85,887,000 as 类为融资活动现金流量,经营现金 repayment of the principal portion of the lease liabilities 流量将增加而融资现金流量减少约 will be classified as cash flows from financing activities. 85,887,000港元。 Date of adoption by the Group 本集团采纳日期 It is mandatory for financial years commencing on or after 对二零一九年四月一日或之后开始 1 April 2019. At this stage, the Group does not intend to 之财政年度强制生效。在现阶段, adopt the standard before its effective date. The Group 本集团无意于生效日期前采纳该准 will continue to assess the full impact of the adoption of 则。本集团继续评估采纳香港财务 HKFRS 16. 报告准则第16号之全面影响。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 153 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (b) New/revised HKFRSs that have been issued but are (b) 已颁布但尚未生效的新订╱经修订 not yet effective (Continued) 香港财务报告准则(续) HK(IFRIC)-Int 23 – Uncertainty over Income Tax 香港(国际财务报告诠释委员会)- Treatments 诠释第23号-所得税处理的不确定 性 The interpretation supports the requirements of HKAS 该诠释透过就如何反映所得税会计 12, Income Taxes, by providing guidance over how to 处理涉及的不确定影响提供指引, reflect the effects of uncertainty in accounting for income 以为香港会计准则第12号所得税的 taxes. 规定提供支持。 Under the interpretation, the entity shall determine 根据该诠释,实体须基于哪种方法 whether to consider each uncertain tax treatment 能更好地预测不确定性的最终结 separately or together based on which approach better 果,厘定是否个别考虑还是集中考 predicts the resolution of the uncertainty. The entity shall 虑各项不确定税项处理。实体亦须 also assume the tax authority will examine amounts that 假设凡税务机关有权查验的金额, it has a right to examine and have full knowledge of all 税务机关均会查验,且在作出有关 related information when making those examinations. If 查验时,税务机关完全知悉一切有 the entity determines it is probable that the tax authority 关资料。倘实体厘定税务机关可能 will accept an uncertain tax treatment, the entity should 会接纳不确定税项处理,则实体应 measure current and deferred tax in line with its tax 按与其税务申报相同的方式计量即 filings. If the entity determines it is not probable, the 期及递延税项。倘实体厘定此情况 uncertainty in the determination of tax is reflected using 不大可能发生,则厘定税项时所涉 either the “most likely amount” or the “expected value” 及的不确定性乃采用「最可能金额」 approach, whichever better predicts the resolution of the 或「预期值」法两者中能更好地预测 uncertainty. 不确定性最终结果的方法来反映。 Amendments to HKFRS 9 – Prepayment Features 香港财务报告准则第9号的修订- with Negative Compensation 具负补偿的提前还款特性 The amendments clarify that prepayable financial 该等修订澄清,在附合特定条件的 assets with negative compensation can be measured at 情况下,具负补偿提前还款特性的 amortised cost or at FVTOCI if specified conditions are 金融资产可按摊销成本或按公允值 met – instead of at FVTPL. 计入其他全面收入的方式计量,而 不是按公允值计入损益账的方式计 量。 154 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (b) New/revised HKFRSs that have been issued but are (b) 已颁布但尚未生效的新订╱经修订 not yet effective (Continued) 香港财务报告准则(续) Amendments to HKAS 28 – Long-term Interests in 香港会计准则第28号的修订-于联 Associates and Joint Ventures 营公司及合营公司的长期权益 The amendment clarifies that HKFRS 9 applies to long- 该等修订澄清,香港财务报告准则 term interests (“LTI”) in associates or joint ventures 第9号适用于构成于联营公司或合 which form part of the net investment in the associates or 营公司的投资净额一部分的联营公 joint ventures and stipulates that HKFRS 9 is applied to 司或合营公司长期权益(「长期权 these LTI before the impairment losses guidance within 益」),并规定就该等长期权益,香 HKAS 28. 港财务报告准则第9号先于香港会 计准则第28号下的减值亏损指引适 用。 Annual Improvements to HKFRSs 2015-2017 Cycle – 香港财务报告准则二零一五年至二 Amendments to HKFRS 3, Business Combinations 零一七年周期的年度改进-香港财 务报告准则第3号之修订,业务合 并 The amendments issued under the annual improvements 根据年度改进过程颁布的修订对现 process make small, non-urgent changes to standards 时并不清晰的准则作出细微且并不 where they are currently unclear. They include 急切的修改,其中包括香港财务报 amendments to HKFRS 3 which clarifies that when a 告准则第3号的修订,当中澄清当 joint operator of a business obtains control over a joint 一项业务的合营经营者取得合营经 operation, this is a business combination achieved in 营的控制权时,即代表业务合并已 stages and the previously held equity interest should 初步达成,而先前持有的股权应重 therefore be remeasured to its acquisition-date fair value. 新计量为其收购日期的公允值。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 155 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (b) New/revised HKFRSs that have been issued but are (b) 已颁布但尚未生效的新订╱经修订 not yet effective (Continued) 香港财务报告准则(续) Annual Improvements to HKFRSs 2015-2017 Cycle – 香港财务报告准则二零一五年至二 Amendments to HKAS 12, Income Taxes 零一七年周期的年度改进-香港会 计准则第12号之修订,所得税 The amendments issued under the annual improvements 根据年度改进过程颁布的修订对现 process make small, non-urgent changes to standards 时并不清晰的准则作出细微且并不 where they are currently unclear. They include 急切的修改,其中包括香港会计准 amendments to HKAS 12 which clarify that all income tax 则第12号的修订,当中澄清股息所 consequences of dividends are recognised consistently 产生的一切所得税后果与产生可分 with the transactions that generated the distributable 派溢利的交易采取一致的方式,而 profits, either in profit or loss, other comprehensive 于损益账、其他全面收入或直接于 income or directly in equity. 权益内确认。 Annual Improvements to HKFRSs 2015-2017 Cycle – 香港财务报告准则二零一五年至二 Amendments to HKAS 23, Borrowing Costs 零一七年周期的年度改进-香港会 计准则第23号之修订,借贷成本 The amendments issued under the annual improvements 根据年度改进过程颁布的修订对现 process make small, non-urgent changes to standards 时并不清晰的准则作出细微且并不 where they are currently unclear. They include 急切的修改,其中包括香港会计准 amendments to HKAS 23 which clarify that a borrowing 则第23号的修订,当中澄清一项 made specifically to obtain a qualifying asset which 特别用作取得合资格资产而作出, remains outstanding after the related qualifying asset 并于相关合资格资产已准备用于其 is ready for its intended use or sale would become part 拟定用途或进行销售时仍未偿还的 of the funds an entity borrows generally and therefore 借贷,将成为实体一般借入的资金 included in the general pool. 的一部分,并因此计入一般资产池 内。 156 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 3. ADOPTION OF HONG KONG FINANCIAL 3. 采纳香港财务报告准则(「香港 REPORTING STANDARDS (“HKFRSs”) 财务报告准则」)(续) (Continued) (b) New/revised HKFRSs that have been issued but are (b) 已颁布但尚未生效的新订╱经修订 not yet effective (Continued) 香港财务报告准则(续) Amendments to HKFRS 10 and HKAS 28 – Sale or 香港财务报告准则第10号及香港会 Contribution of Assets between an Investor and its 计准则第28号之修订-投资者与其 Associate or Joint Venture 联营公司或合营公司之间出售或注 入资产 The amendments clarify the extent of gains or losses to 公司之间出售或注入资产该等修订 be recognised when an entity sells or contributes assets 澄清,当实体向其联营公司或合营 to its associate or joint venture. When the transaction 公司出售或注入资产时,将予确认 involves a business the gain or loss is recognised in full, 收益或亏损的程度。倘交易涉及业 conversely when the transaction involves assets that do 务,其收益或亏损须予全数确认。 not constitute a business the gain or loss is recognised 反之,倘交易涉及不构成业务的资 only to the extent of the unrelated investors’ interests in 产,则仅须就不相关投资者于合营 the joint venture or associate. 公司或联营公司的权益确认收益或 亏损。 Except for HKFRS 16, the Group is not yet in a position 除香港财务报告准则第16号外,本 to state whether these new pronouncements will result in 集团现阶段尚未能说明该等新颁布 substantial changes to the Group’s accounting policies 会否导致本集团的会计政策及财务 and financial statements. 报表出现重大变化。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 157 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要 ACCOUNTING POLICIES The significant accounting policies that have been used in 编制本财务报表时所用之主要会计政策 the preparation of these financial statements are summarised 概要载于下文。除非另有指明,否则该 below. These policies have been consistently applied to all the 等政策已于各个呈列年度贯彻应用。 years presented unless otherwise stated. 4.1 Business combination and basis of consolidation 4.1 业务合并及综合基准 The consolidated financial statements comprise the 综合财务报表包括本公司及其附属 financial statements of the Company and its subsidiaries. 公司之财务报表。编制综合财务报 Inter-company transactions and balances between 表时,集团内公司间交易及结余连 group companies together with unrealised profits are 同未变现溢利会悉数抵销。未变现 eliminated in full in preparing the consolidated financial 亏损亦会抵销,惟有关交易能提供 statements. Unrealised losses are also eliminated unless 证据证明所转让资产减值则除外, the transaction provides evidence of impairment on the 届时有关亏损会于损益表中确认。 asset transferred, in which case the loss is recognised in profit or loss. The results of subsidiaries acquired or disposed of during 自收购日期起或直至出售日期为 the year are included in the consolidated statement of 止(如适用),年内购入或出售之附 comprehensive income from the dates of acquisition 属公司业绩会计入综合全面收入报 or up to the dates of disposal, as appropriate. Where 表。必要时会调整附属公司财务报 necessary, adjustments are made to the financial 表,以使该等公司之会计政策与本 statements of subsidiaries to bring their accounting 集团其他成员公司所用者一致。 policies into line with those used by other members of the Group. 158 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.1 Business combination and basis of consolidation 4.1 业务合并及综合基准(续) (Continued) Acquisition of subsidiaries or businesses is accounted for 收购附属公司或业务乃采用收购法 using the acquisition method. The cost of an acquisition 入账。收购成本乃按本集团(作为 is measured at the aggregate of the acquisition-date 收购方)所转让资产、所产生负债 fair value of assets transferred, liabilities incurred and 及所发行股本权益于收购日期之公 equity interests issued by the Group, as the acquirer. The 允值总额计量。所收购可识别资产 identifiable assets acquired and liabilities assumed are 及所承担负债主要按收购日期公允 principally measured at acquisition-date fair value. The 值计量。本集团先前所持被收购方 Group’s previously held equity interest in the acquiree 股本权益按收购日期公允值重新计 is re-measured at acquisition-date fair value and the 量,而所产生收益或亏损则于损益 resulting gains or losses are recognised in profit or loss. 表中确认。本集团可按每宗交易选 The Group may elect, on a transaction-by-transaction 择按公允值或按应占被收购方可识 basis, to measure the non-controlling interests that 别资产净值比例计量非控股权益 represent present ownership interests in the subsidiary (相当于在附属公司之目前拥有权 either at fair value or at the proportionate share of 权益)。 除非香港财务报告准则另 the acquiree’s identifiable net assets. All other non- 有计量基准规定,否则所有其他非 controlling interests are measured at fair value unless 控股权益乃按公允值计量。所产生 another measurement basis is required by HKFRSs. 收购相关成本予以支销,惟倘有关 Acquisition-related costs incurred are expensed unless 成本乃于发行股本工具时产生者, they are incurred in issuing equity instruments in which 则自权益扣减成本。 case the costs are deducted from equity. Any contingent consideration to be transferred by the 收购方将予转让之任何或然代价按 acquirer is recognised at acquisition-date fair value. 收购日期公允值确认。其后对代价 Subsequent adjustments to consideration are recognised 所作调整仅于调整因于计量期间 against goodwill only to the extent that they arise from (最长为自收购日期起计十二个月) new information obtained within the measurement period 内所取得有关收购日期公允值之新 (a maximum of 12 months from the acquisition date) 资料而产生时,方会就商誉确认。 about the fair value at the acquisition date. All other 对分类为资产或负债之或然代价所 subsequent adjustments to contingent consideration 作一切其他其后调整均于损益表确 classified as an asset or a liability are recognised in profit 认。 or loss. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 159 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.1 Business combination and basis of consolidation 4.1 业务合并及综合基准(续) (Continued) Contingent consideration balances arising from business 收购日期于本集团首次应用香港财 combinations whose acquisition dates preceded 1 务报告准则第3号(二零零八年)当 January 2010 (i.e. the date the Group first applied HKFRS 日二零一零年一月一日之前之业务 3 (2008)) have been accounted for in accordance with the 合并产生之或然代价结余已按照该 transition requirements in the standard. Such balances 准则之过渡性要求入账。有关结余 are not adjusted upon first application of the standard. 于首次应用该准则时未获调整。其 Subsequent revisions to estimates of such consideration 后对有关代价估计作出之修订视为 are treated as adjustments to the cost of these business 对有关业务合并成本作出之调整, combinations and are recognised as part of goodwill. 并确认为商誉部分。 Changes in the Group’s interests in subsidiaries that 倘本集团于附属公司之权益变动并 do not result in a loss of control are accounted for 未导致失去控制权,则入账列为权 as equity transactions. The carrying amounts of the 益交易。本集团权益及非控股权益 Group’s interest and the non-controlling interest are 之账面金额有所调整,以反映其于 adjusted to reflect the changes in their relative interests 附属公司之相关权益变动。非控股 in the subsidiaries. Any difference between the amount 权益经调整金额与已付或已收代价 by which the non-controlling interest is adjusted and 公允值间之差额直接于权益确认, the fair value of the consideration paid or received is 并归本公司拥有人所有。 recognised directly in equity and attributed to owners of the Company. When the Group loses control of a subsidiary, the 倘本集团失去对附属公司之控制 profit or loss on disposal is calculated as the difference 权,则出售产生之损益计为(i)已收 between (i) the aggregate of the fair value of the 代价公允值及保留权益公允值之总 consideration received and the fair value of any retained 和;与(ii)附属公司之资产(包括商 interest and (ii) the previous carrying amount of the 誉)及负债以及非控股权益先前之 assets (including goodwill), and liabilities of the subsidiary 账面金额间之差额。先前就附属公 and any non-controlling interest. Amounts previously 司于其他全面收入确认之金额按在 recognised in other comprehensive income in relation to 相关资产或负债出售时可能规定之 the subsidiary are accounted for in the same manner as 同一方式入账。 would be required if the relevant assets or liabilities were disposed of. 160 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.1 Business combination and basis of consolidation 4.1 业务合并及综合基准(续) (Continued) Subsequent to acquisition, the carrying amount of non- 收购后,相当于目前在附属公司拥 controlling interests that represent present ownership 有权权益之非控股权益账面金额为 interests in the subsidiary is the amount of those 初步确认时有关权益之金额加有关 interests at initial recognition plus such non-controlling 非控股权益应占其后权益变动部 interest’s share of subsequent changes in equity. 分。即使全面收入总额拨归有关非 Total comprehensive income is attributed to such non- 控股权益后,会导致有关非控股权 controlling interests even if this results in those non- 益出现亏绌结余,有关总额亦会拨 controlling interests having a deficit balance. 归有关权益。 4.2 Subsidiaries and non-controlling interests 4.2 附属公司及非控股权益 A subsidiary is an investee over which the Company 附属公司乃本公司能行使控制权之 is able to exercise control. The Company controls an 被投资方。本公司对被投资方有控 investee if all three of the following elements are present: 制权,惟以下三项元素须全部出 power over the investee, exposure, or rights, to variable 现:对被投资方之权力、可以或有 returns from the investee, and the ability to use its power 权获得被投资方之可变回报,以及 to affect those variable returns. Control is reassessed 运用其权力影响有关可变回报之能 whenever facts and circumstances indicate that there 力。每当有事实及情况显示上述任 may be a change in any of these elements of control. 何控制权元素可能有变,本集团会 重新评估控制权。 Non-controlling interests represent the equity in a 非控股权益即并非由公司直接或间 subsidiary not attributable directly or indirectly to the 接拥有于附属公司之权益,就此而 Company, and in respect of which the Group has not 言,本集团并未与该等权益持有人 agreed any additional terms with the holders of those 协定任何额外条款,以致本集团整 interests which would result in the Group as a whole 体须承担符合金融负债定义之权益 having a contractual obligation in respect of those 之合约责任。就各业务合并而言, interests that meets the definition of a financial liability. 本集团能选择按公允值或非控股权 For each business combination, the Group can elect to 益应占附属公司可识别资产净值之 measure any non-controlling interests either at fair value 比例计算任何非控股权益。 or at the non-controlling interests’ proportionate share of the subsidiary’s net identifiable assets. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 161 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.2 Subsidiaries and non-controlling interests 4.2 附属公司及非控股权益(续) (Continued) Non-controlling interests are presented in the 非控股权益呈列于综合财务状况报 consolidated statement of financial position within 表内之权益部分,且独立于公司股 equity, separately from equity attributable to the equity 份持有人应占之权益。于本集团业 owners of the Company. Non-controlling interests in 绩内之非控股权益于综合全面收入 the results of the Group are presented on the face of 报表内以年内分配予非控股权益与 the consolidated statement of comprehensive income 公司股份持有人之总溢利或亏损及 as an allocation of the total profit or loss and total 全面收入总额方式呈列。来自非控 comprehensive income for the year between non- 股权益持有人之贷款及该等持有人 controlling interests and the equity owners of the 之其他合约责任,视乎债务性质于 Company. Loans from holders of non-controlling 综合财务状况报表内呈列为金融负 interests and other contractual obligations towards 债。 these holders are presented as financial liabilities in the consolidated statement of financial position depending on the nature of the liability. In the Company’s statement of financial position, 在本公司之财务状况报表中,于附 investments in subsidiaries are stated at cost less 属公司之投资按成本扣除减值亏损 impairment loss, if any. The results of subsidiaries are (如有)列账。本公司按已收及应收 accounted for by the Company on the basis of dividend 股息将附属公司业绩入账。 received and receivable. 162 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.3 Associates 4.3 联营公司 An associate is an entity in which the Group has 联营公司为本集团对其管理(包括 significant influence, but not control or joint control, over 参与其财政及营运政策之决定)有 its management, including participation in the financial 重大影响力(惟并非控制或共同控 and operating policy decisions. 制)之实体。 An investment in an associate is accounted for in the 于一间联营公司之投资乃按权益法 consolidated financial statements under the equity 入账及列入综合财务报表。投资以 method. Under the equity method, the investment is 权益法先按成本入账,并就本集团 initially recorded at cost, adjusted for any excess of the 应占被投资公司于收购日之可识别 Group’s share of the acquisition-date fair values of the 资产净值之公允值超出投资成本之 investee’s identifiable net assets over the cost of the 金额(如有)作出调整。其后,该 investment (if any). Thereafter, the investment is adjusted 项投资再根据本集团于收购后应占 for the post acquisition change in the Group’s share 该被投资公司之净资产及与该项投 of the investee’s net assets and any impairment loss 资有关之任何减值亏损之变动作出 relating to the investment. Any acquisition-date excess 调整。年内,任何于收购日超出成 over cost, the Group’s share of the post-acquisition, 本之金额,本集团应占被投资公司 post-tax results of the investees and any impairment 收购后及除税后之业绩及任何减值 losses for the year are recognised in profit or loss, 亏损乃于损益确认,而本集团应占 whereas the Group’s share of the post-acquisition post- 被投资公司收购后及除税后之其他 tax items of the investees’ other comprehensive income 全面收入项目乃于其他全面收入确 is recognised in other comprehensive income. 认。 When the Group’s share of losses exceeds its interest in 倘本集团应占之亏损超过其于联营 the associate, the Group’s interest is reduced to nil and 公司之权益,则本集团之权益会减 recognition of further losses is discontinued except to the 至零并终止确认进一步亏损,惟本 extent that the Group has incurred legal or constructive 集团已代表被投资公司承担法律或 obligations or made payments on behalf of the investee. 推定责任或支付款项除外。就此而 For this purpose, the Group’s interest is the carrying 言,本集团之权益为根据权益法计 amount of the investment under the equity method 算投资之账面值,连同实质构成于 together with the Group’s long-term interests that in 该联营公司之本集团投资净额之长 substance form part of the Group’s net investment in the 期权益部分。 associate. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 163 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.3 Associates (Continued) 4.3 联营公司(续) Unrealised profits and losses resulting from transactions 本集团与其联营公司进行交易而产 between the Group and its associates are eliminated 生之未变现溢利及亏损,均以本集 to the extent of the Group’s interest in the investee, 团于有关被投资公司之权益为限进 except where unrealised losses provide evidence of an 行抵销,惟倘未变现亏损显示所转 impairment of the asset transferred, in which case they 让资产出现减值之证据,在该情况 are recognised immediately in profit or loss. 下,有关亏损则在损益即时确认。 If an investment in an associate becomes an investment 当于一间联营公司之投资变为于一 in a joint venture or vice versa, retained interest is not 间合资企业之投资,保留权益并不 remeasured. Instead, the investment continues to be 会重新计量,反之亦然。而该投资 accounted for under the equity method. 将继续以权益法入账。 In all other cases, when the Group ceases to have 在任何情况下,当本集团在一间联 significant influence over an associate, it is accounted 营公司不再有重大影响力时,将按 for as a disposal of the entire interest in that investee, 出售该被投资公司之所有权益入 with a resulting gain or loss being recognised in profit or 账,而所产生之盈亏于损益确认。 loss. Any interest retained in that former investee at the 任何在丧失重大影响力日仍保留于 date when significant influence is lost is recognised at 该前度被投资公司之权益按公允值 fair value and this amount is regarded as the fair value on 确认,而此金额被视为金融资产于 initial recognition of a financial asset. 初始确认时之公允值。 In the Company’s statement of financial position, 于本公司财务状况报表中,于联营 investments in associates are stated at cost less 公司之投资按成本减减值亏损列 impairment losses. 账。 164 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.4 Foreign currency 4.4 外币 Foreign currency transactions during the year are 年内之外币交易按交易日之汇率换 translated at the foreign exchange rates ruling at the 算。以外币为单位之货币资产及负 transaction dates. Monetary assets and liabilities 债则按报告期末之汇率换算。汇兑 denominated in foreign currencies are translated at the 盈亏均已在损益确认。 foreign exchange rates ruling at the end of the reporting period. Exchange gains and losses are recognised in profit or loss. Non-monetary assets and liabilities that are measured 过往成本以外币为单位之非货币性 in terms of historical cost in a foreign currency are 资产及负债,按交易日之汇率换 translated using the foreign exchange rates ruling at the 算。公允值以外币列账之非货币性 transaction dates. Non-monetary assets and liabilities 资产及负债按计量其公允值当日适 denominated in foreign currencies that are stated at fair 用之汇率换算。 value are translated using the foreign exchange rates ruling at the dates the fair value was measured. The results of foreign operations are translated into 海外业务之业绩乃按与交易日适用 HK$ at the exchange rates approximating the foreign 外汇汇率相若之汇率换算为港元。 exchange rates ruling at the dates of the transactions. 财务状况报表项目(包括因合并海 Statement of financial position items, including goodwill 外企业产生之商誉)乃按报告期末 arising on consolidation of foreign operations, are 之外汇汇率换算为港元。产生之汇 translated into HK$ at the closing foreign exchange rates 兑差额于其他全面收入确认并分别 at the end of the reporting period. The resulting exchange 累计于权益中之汇兑储备。 differences are recognised in other comprehensive income and accumulated separately in equity in the exchange reserve. On disposal of a foreign operation, the cumulative 于出售海外业务时,有关该香港境 amount of the exchange differences relating to that 外企业之汇兑差额之累计数额乃于 foreign operation is reclassified from equity to profit or 确认出售损益时由权益重新分类至 loss when the profit or loss on disposal is recognised. 损益。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 165 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.5 Property, plant and equipment 4.5 物业、机器及设备 Property, plant and equipment are stated at cost less 物业、机器及设备按成本减累计折 accumulated depreciation and any impairment losses. 旧及任何减值亏损列账。物业、机 The cost of an item of property, plant and equipment 器及设备项目之成本包括其购入价 comprises its purchase price and any directly attributable 以及为使资产达致拟定用途之运作 costs of bringing the asset to its working condition and 状况及地点而直接应占之成本。 location for its intended use. The gain or loss arising on retirement or disposal is 报废或出售时产生之损益按出售所 determined as the difference between the net disposal 得款项净额与有关项目之账面金额 proceeds and the carrying amount of the item and is 之间之差额厘定,并于报废或出售 recognised in profit or loss on the date of retirement or 当日在损益表内确认。 disposal. Depreciation on property, plant and equipment is 物业、机器及设备折旧乃按以下估 calculated to write off the cost of items of property, plant 计可使用年期及扣除估计剩余价值 and equipment, less their estimated residual value, if any, (如有)后,以直线法计算,以撇销 using the straight-line method over their estimated useful 物业、机器及设备成本: lives as follows: Buildings Remaining lease terms 楼宇 物业的余下租赁年期 of property Furniture, fixtures and 3 to 10 years 家私、装置 3至10年 equipment 及设备 Motor vehicles 4 to 5 years 汽车 4至5年 The assets’ estimated residual values, depreciation 资产之估计剩余价值、折旧方法及 methods and estimated useful lives are reviewed, and 估计可使用年期于各报告期末作出 adjusted if appropriate, at the end of each reporting 检讨,并于适当情况下作出调整。 period. Subsequent costs are included in the asset’s 其后成本仅在与该项目相关之未来 carrying amount or recognised as a separate asset, 经济利益极有可能流入本集团,并 as appropriate, only when it is probable that future 能可靠地计算出项目成本之情况 economic benefits associated with the item will flow to 下,始纳入资产之账面金额或确认 the Group and the cost of the item can be measured 为独立资产(视何者适用而定)。所 reliably. All other costs, such as repairs and maintenance 有其他成本(如修理及维修开支)于 are charged to profit or loss during the financial period in 其产生之财政期间在损益表扣除。 which they are incurred. 166 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.6 Intangible assets 4.6 无形资产 (i) Goodwill (i) 商誉 Where the fair value of identifiable assets and 倘可识别资产及负债之公允 liabilities exceeds the aggregate of the fair value 值高于已付代价之公允值、 of consideration paid, the amount of any non- 于被收购方之任何非控股权 controlling interest in the acquiree and the 益之金额以及收购方先前于 acquisition-date fair value of the acquirer’s 被收购方持有之股本权益于 previously held equity interest in the acquiree, 收购日期之公允值之总额, the excess is recognised in profit or loss on the 则超出部分经重估后于收购 acquisition date, after re-assessment. 日期在损益确认。 Goodwill is measured at cost less impairment 商誉乃按成本减去减值亏损 losses. For the purpose of impairment testing, 计量。就减值测试而言,因 goodwill arising from an acquisition is allocated 收购而产生之商誉获分配至 to each of the relevant cash-generating units that 预期受惠于收购所产生协同 are expected to benefit from the synergies of the 效益之各个相关现金产生单 acquisition. A cash-generating unit is the smallest 位。现金产生单位是其产生 identifiable group of assets that generates cash 的现金流入(基本上独立于其 inflows that are largely independent of the cash 他资产或资产组别的现金流 inflows from other assets or groups of assets. A 入)的最小可识别资产组合。 cash-generating unit to which goodwill has been 获分配商誉之现金产生单位 allocated is tested for impairment annually, by 每年及于有迹象显示单位可 comparing its carrying amount with its recoverable 能出现减值时测试减值, 方 amount, and whenever there is an indication that 法为比较其账面值及其可收 the unit may be impaired. 回金额。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 167 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.6 Intangible assets (Continued) 4.6 无形资产(续) (i) Goodwill (Continued) (i) 商誉(续) For goodwill arising on an acquisition in a financial 就某财政年度内进行收购所 year, the cash-generating unit to which goodwill 产生之商誉而言,于该财政 has been allocated is tested for impairment before 年度结束前就获分配商誉之 the end of that financial year. When the recoverable 现金产生单位进行减值测 amount of the cash-generating unit is less than the 试。倘现金产生单位之可收 carrying amount of the unit, the impairment loss 回金额少於单位账面值, 则 is allocated to reduce the carrying amount of any 减值亏损首先分配以减少分 goodwill allocated to the unit first, and then to the 配至单位之商誉账面值, 其 other assets of the unit pro-rata on the basis of the 后以该单位内各项资产账面 carrying amount to each asset in the unit. However, 值为基准按比例分配至该单 the loss allocated to each asset will not reduce 位之其他资产。然而,分配 the individual asset’s carrying amount to below 至各资产之亏损不会导致个 its fair value less cost of disposal (if measurable) 别资产之账面值减少至低于 or its value in use (if determinable), whichever is 其公允值减出售成本(如可计 the higher. Any impairment loss for goodwill is 量)或其使用价值(如可厘定) recognised in profit or loss and is not reversed in 之较高 者。商誉任何减值亏 subsequent periods. 损于损益确认,且不会于其 后期间拨回。 168 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.6 Intangible assets (Continued) 4.6 无形资产(续) (ii) Intangible assets (other than goodwill) (ii) 无形资产(不包括商誉) Intangible assets that are acquired by the Group 本集团购入之无形资产是按 are stated at cost less accumulated amortisation 成本减累计摊销(倘可用年期 (where the estimated useful life is finite) and 为有限期)及减值亏损列账。 impairment losses. Amortisation of intangible assets with finite useful 可用年期为有限期之无形资 lives is charged to profit or loss on a straight-line 产之摊销是按直线基准于资 basis over the assets’ estimated useful lives. The 产之估计可用年期内从损益 following intangible asset with finite useful lives is 扣除。下列可用年期为有限 amortised from the date it is available for use and its 期之无形资产自有关资产可 estimated useful life is as follows: 供使用当日起予以摊销, 其 估计可用年期如下: Trademark 10 years 商标 10年 Leasing contracts Remaining lease terms 租赁合约 余下租赁年期 Both the period and method of amortisation are 摊销期间及方法均会每年进 reviewed annually. 行审阅。 Prepaid lease payments are stated at cost less 预付租赁款项按成本减累计 accumulated amortisation and impairment losses. 摊销及减值亏损列 账。成本 Cost mainly represents consideration paid for the 主要指自就土地使用权授出 rights to use the land from the date the respective 之日期使用土地之权利已付 rights were granted. Amortisation of land use rights 代价。土地使用权摊销按直 is calculated on a straight-line basis over the period 线法基准于权利期限内计算。 of rights. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 169 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.7 Financial Instruments (accounting policies applied 4.7 金融工具(自二零一八年四月一日 from 1 April 2018) 起应用的会计政策) Financial assets 金融资产 A financial asset (unless it is a trade receivable without 就并非按公允值计入损益之项目而 a significant financing component) is initially measured 言,金融资产(并无重大融资部份 at fair value plus, for an item not at FVTPL, transaction 的应收贸易款项除外)初步按公允 costs that are directly attributable to its acquisition or 值加上与其收购或发行直接相关的 issue. A trade receivable without a significant financing 交易成本计量。没有重大融资部份 component is initially measured at the transaction price. 的应收贸易款项初始按交易价格计 量。 All regular way purchases and sales of financial assets 所有以常规方式购买及销售的金融 are recognised on the trade date, that is, the date 资产于交易日(即本集团承诺购买 that the Group commits to purchase or sell the asset. 或出售资产当日)确认。常规买卖 Regular way purchases or sales are purchases or sales of 指规定于一般由市场规例或惯例确 financial assets that require delivery of assets within the 立的期间内交付资产的金融资产买 period generally established by regulation or convention 卖。 in the market place. Financial assets with embedded derivatives are 附带嵌入式衍生工具的金融资产于 considered in their entirety when determining whether 厘定其现金流量是否纯粹为支付本 their cash flows are solely payment of principal and 金及利息时以整体作出考虑。 interest. 170 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.7 Financial Instruments (accounting policies applied 4.7 金融工具(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) Financial assets (Continued) 金融资产(续) Debt instruments 债务工具 Subsequent measurement of debt instruments depends 其后计量债务工具视乎本集团管理 on the Group’s business model for managing the asset 资产的业务模式及资产的现金流量 and the cash flow characteristics of the asset. There 特征。本集团将其债务工具分类为 are three measurement categories into which the Group 三种计量类别: classifies its debt instruments: Amortised cost: Assets that are held for collection of 摊销成本:为收取合约现金流量而 contractual cash flows where those cash flows represent 持有,且现金流量仅为支付本金及 solely payments of principal and interest are measured 利息之资产按摊销成本计量。按摊 at amortised cost. Financial assets at amortised cost are 销成本计量的金融资产其后采用实 subsequently measured using the effective interest rate 际利率法计量。利息收入、汇兑收 method. Interest income, foreign exchange gains and 益及亏损以及减值于损益确认。终 losses and impairment are recognised in profit or loss. 止确认的任何收益于损益确认。 Any gain on derecognition is recognised in profit or loss. FVTOCI: Assets that are held for collection of contractual 按公允值计入其他全面收益:持作 cash flows and for selling the financial assets, where 收回合约现金流量及持作出售金融 the assets’ cash flows represent solely payments of 资产之资产,倘该等资产现金流量 principal and interest, are measured at FVTOCI. Debt 仅指所支付之本金及利息,按公允 investments at FVTOCI are subsequently measured at 值计入其他全面收益计量。按公允 fair value. Interest income calculated using the effective 值列入其他全面收益的债务投资其 interest rate method, foreign exchange gains and losses 后按公允值计量。采用实际利率法 and impairment are recognised in profit or loss. Other net 计算的利息收入、汇兑收益及亏损 gains and losses are recognised in other comprehensive 以及减值于损益确认。其他收益及 income. On derecognition, gains and losses accumulated 亏损净额于其他全面收益确认。于 in other comprehensive income are reclassified to profit 其他全面收益累计的收益及亏损在 or loss. 终止确认时重新分类至损益。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 171 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.7 Financial Instruments (accounting policies applied 4.7 金融工具(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) Financial assets (Continued) 金融资产(续) Debt instruments (Continued) 债务工具(续) FVTPL: Financial assets at FVTPL include financial assets 按公允值计入损益:按公允值计入 held for trading, financial assets designated upon initial 损益的金融资产包括持作买卖的金 recognition at FVTPL, or financial assets mandatorily 融资产,于初始确认时指定按公值 required to be measured at fair value. Financial assets 计入损益的金融资产,或强制要求 are classified as held for trading if they are acquired 按公允值计量的金融资产。倘为于 for the purpose of selling or repurchasing in the near 近期出售或购回而收购金融资产, term. Derivatives, including separated embedded 则该等金融资产分类为持作买卖。 derivatives, are also classified as held for trading unless 衍生工具(包括独立嵌入式衍生工 they are designated as effective hedging instruments. 具)亦分类为持作买卖,惟该等衍 Financial assets with cash flows that are not solely 生工具被指定为有效对冲工具则除 payments of principal and interest are classified and 外。现金流量并非纯粹支付本金及 measured at FVTPL, irrespective of the business model. 利息的金融资产,不论其业务模式 Notwithstanding the criteria for debt instruments to be 如何,均按公允值计入损益分类及 classified at amortised cost or at FVTOCI, as described 计量。尽管如上文所述债务工具可 above, debt instruments may be designated at FVTPL on 按摊销成本或按公允值计入其他全 initial recognition if doing so eliminates, or significantly 面收益分类,但于初始确认时,倘 reduces, an accounting mismatch. 能够消除或显著减少会计错配,则 债务工具可指定为按公允值计入损 益。 172 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.7 Financial Instruments (accounting policies applied 4.7 金融工具(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) Financial assets (Continued) 金融资产(续) Equity instruments 股本工具 On initial recognition of an equity investment that is not 于初次确认并非持作买卖用途的股 held for trading, the Group could irrevocably elect to 本投资时,本集团可不可撤回地选 present subsequent changes in the investment’s fair 择于其他全面收益中呈列投资公允 value in other comprehensive income. This election is 值的后续变动。该选择乃按投资逐 made on an investment-by-investment basis. Equity 项作出。按公允值计入其他全面收 investments at FVTOCI are measured at fair value. 益的股本投资按公允值计量。股息 Dividend income are recognised in profit or loss unless 收入于损益内确认,除非股息收入 the dividend income clearly represents a recovery of 明确表示收回部分投资成本。其他 part of the cost of the investments. Other net gains and 收益及亏损净额于其他全面收益确 losses are recognised in other comprehensive income 认且不会重新分类至损益。按公允 and are not reclassified to profit or loss. All other equity 值计入损益分类的所有其他股本工 instruments are classified as FVTPL, whereby changes in 具,倘公允值发生变动,则股息及 fair value, dividends and interest income are recognised 利息收入于损益中确认。 in profit or loss. Impairment loss on financial assets 金融资产之减值亏损 The Group recognises loss allowances for ECL on trade 本集团确认对应收贸易款项、合约 receivables, financial assets measured at amortised 资产、按摊销成本计量之金融资产 cost and debt investments measured at FVTOCI. The 及按公允值计入其他全面收益之债 ECLs are measured on either of the following bases: (1) 务投资之预期信贷亏损确认亏损拨 12 months ECLs: these are the ECLs that result from 备。预期信贷亏损按以下其中一项 possible default events within the 12 months after the 基准计量:(1) 12个月预期信贷亏 reporting date: and (2) lifetime ECLs: these are ECLs 损:其为于报告日期后12个月内发 that result from all possible default events over the 生的潜在违约事件导致的预期信贷 expected life of a financial instrument. The maximum 亏损;及(2)存续期预期信贷亏损: period considered when estimating ECLs is the maximum 此乃于金融工具预计年期内所有可 contractual period over which the Group is exposed to 能的违约事件产生的预期信贷亏 credit risk. 损。于估计预期信贷亏损时所考虑 的最长期间为本集团面临信贷风险 的最长合约期间。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 173 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.7 Financial Instruments (accounting policies applied 4.7 金融工具(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) Financial assets (Continued) 金融资产(续) Impairment loss on financial assets (Continued) 金融资产之减值亏损(续) ECLs are a probability-weighted estimate of credit 预期信贷亏损为信贷亏损的概率加 losses. Credit losses are measured as the difference 权估计。信贷亏损乃根据合约中应 between all contractual cash flows that are due to the 付本集团之合约现金流量总额及本 Group in accordance with the contract and all the cash 集团预计收取之现金流量总额之差 flows that the Group expects to receive. The shortfall 额计量。该差额其后按资产原有实 is then discounted at an approximation to the assets’ 际利率相近的差额贴现。 original effective interest rate. The Group has elected to measure loss allowances for 本集团已选用香港财务报告准则 trade receivables and contract assets using HKFRS 9 第9号简化法计量应收贸易款项及 simplified approach and has calculated ECLs based on 合约资产之亏损拨备,并已根据整 lifetime ECLs. The Group has established a provision 个存续期内预期信贷亏损计算预期 matrix that is based on the Group’s historical credit loss 信贷亏损。本集团已设立根据本集 experience, adjusted for forward-looking factors specific 团过往信贷亏损经验计算的拨备矩 to the debtors and the economic environment. 阵,并按债务人特定之前瞻性因素 及经济条件作出调整。 For other debt financial assets, the ECLs are based on 就其他债务金融资产而言,预期信 the 12-month ECLs. However, when there has been a 贷亏损乃按12个月预期信贷亏损计 significant increase in credit risk since origination, the 算。然而,自开始以来信贷风险显 allowance will be based on the lifetime ECLs. 著增加时,拨备将以整个存续期内 预期信贷亏损为基准。 When determining whether the credit risk of a financial 当厘定金融资产之信贷风险自初步 asset has increased significantly since initial recognition 确认后有否大幅增加及于估计预期 and when estimating ECL, the Group considers 信贷亏损时,本集团会考虑相关及 reasonable and supportable information that is relevant 无须付出过多成本或努力即可获得 and available without undue cost or effort. This includes 之合理及可靠资料。此包括根据本 both quantitative and qualitative information analysis, 集团之过往经验及已知信贷评估得 based on the Group’s historical experience and informed 出之定量及定性资料分析,并包括 credit assessment and including forward-looking 前瞻性资料。 information. 174 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.7 Financial Instruments (accounting policies applied 4.7 金融工具(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) Financial assets (Continued) 金融资产(续) Impairment loss on financial assets (Continued) 金融资产之减值亏损(续) The Group assumes that the credit risk on a financial 本集团假设,倘逾期超过30天,金 asset has increased significantly if it is more than 30 days 融资产的信贷风险会大幅增加。 past due. The Group considers a financial asset to be credit- 本集团认为金融资产于下列情况下 impaired when: (1) the borrower is unlikely to pay its 为违约:(1)借款人不可能在本集团 credit obligations to the Group in full, without recourse by 无追索权(例如:变现担保)(如持 the Group to actions such as realising security (if any is 有)下向本集团悉数支付其信贷义 held); or (2) the financial asset is more than 90 days past 务;或(2)该金融资产逾期超过90 due. 天。 Interest income on credit-impaired financial assets is 信贷减值金融资产之利息收入按金 calculated based on the amortised cost (i.e. the gross 融资产的摊销成本计量(即总账面 carrying amount less loss allowance) of the financial 值减亏损拨备 )。非信贷减值金融 asset. For non-credit-impaired financial assets interest 资产之利息收入按总账面值计算。 income is calculated based on the gross carrying amount. Financial liabilities 金融负债 The Group classifies its financial liabilities, depending 视乎招致负债的目的,本集团将其 on the purpose for which the liabilities were incurred. 金融负债分类。按公允值计入损益 Financial liabilities at FVTPL are initially measured at 的金融负债初步按公允值计量,而 fair value and financial liabilities at amortised costs are 以摊销成本计量之金融负债初步按 initially measured at fair value, net of directly attributable 公允值减所产生的直接应占成本计 costs incurred. 量。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 175 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.7 Financial Instruments (accounting policies applied 4.7 金融工具(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) Financial assets (Continued) 金融资产(续) Financial liabilities at amortised cost 按摊销成本列账之金融负债 Financial liabilities at amortised cost are subsequently 按摊销成本列账之金融负债其后使 measured at amortised cost, using the effective interest 用实际利率法按摊销成本计量。有 method. The related interest expense is recognised in 关利息开支于损益中确认。 profit or loss. Gains or losses are recognised in profit or loss when 收益或亏损于终止确认负债时透过 the liabilities are derecognised as well as through the 摊销程序于损益确认。 amortisation process. Effective interest method 实际利率法 The effective interest method is a method of calculating 实际利率法为一种计算金融资产或 the amortised cost of a financial asset or financial liability 金融负债之摊销成本及将利息收入 and of allocating interest income or interest expense over 或利息开支分配至有关期间之方 the relevant period. The effective interest rate is the rate 法。实际利率为透过金融资产或负 that exactly discounts estimated future cash receipts or 债之预期年期或(倘适用)较短期间 payments through the expected life of the financial asset 将估计未来现金收入或付款贴现之 or liability, or where appropriate, a shorter period. 利率。 176 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.7 Financial Instruments (accounting policies applied 4.7 金融工具(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) Financial assets (Continued) 金融资产(续) Derecognition 终止确认 The Group derecognises a financial asset when the 本集团在与金融资产有关之未来现 contractual rights to the future cash flows in relation to 金流量合约权利届满,或金融资产 the financial asset expire or when the financial asset has 已转让,且该转让根据香港财务 been transferred and the transfer meets the criteria for 报告准则第9号符合终止确认标准 derecognition in accordance with HKFRS 9. 时,终止确认金融资产。 Financial liabilities are derecognised when the obligation 金融负债于有关合约所订明责任解 specified in the relevant contract is discharged, cancelled 除、注销或届满时终止确认。 or expires. Where the Group issues its own equity instruments to 本集团因重新磋商负债条款而向债 a creditor to settle a financial liability in whole or in part 权人发行本身之股本工具以偿付全 as a result of renegotiating the terms of that liability, the 部或部分金融负债,所发行之股本 equity instruments issued are the consideration paid 工具即所付代价,乃初步按有关金 and are recognised initially and measured at their fair 融负债(或当中部分)注销当日之公 value on the date the financial liability or part thereof is 允值确认及计量。倘已发行股本工 extinguished. If the fair value of the equity instruments 具之公允值无法可靠计量,则股本 issued cannot be reliably measured, the equity 工具反映按已注销金融负债之公允 instruments are measured to reflect the fair value of the 值计量。已注销金融负债(或当中 financial liability extinguished. The difference between the 部分)之账面值与所付代价间之差 carrying amount of the financial liability or part thereof 额乃于年内在损益内确认。 extinguished and the consideration paid is recognised in profit or loss for the year. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 177 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) 日之前应用的会计政策) The Group has applied HKFRS 9 retrospectively, but 本集团已追溯应用香港财务报告准 has elected not to restate comparative information. 则第9号,但已选择不重列比较资 Accordingly, the comparative financial information 料。因此,所提供的比较财务资料 provided continues to be accounted for in accordance 继续根据本集团过往会计政策列 with the Group’s previous accounting policy. 账。 Financial assets 金融资产 The Group classifies its financial assets at initial 本集团视乎收购资产之目的而定, recognition, depending on the purpose for which the 于初步确认时将其金融资产分类。 financial assets were acquired. Financial assets are 金融资产则初步按公允值加收购该 initially measured at fair value plus transaction costs that 等金融资产直接应占之交易成本计 are directly attributable to the acquisition of the financial 量。从一般途径购买或出售之金融 assets. Regular way purchases or sales of financial 资产按交易日基准确认及终止确 assets are recognised and derecognised on a trade date 认。从一般途径购买或出售指金融 basis. A regular way purchase or sale is a purchase 资产按合约购买或出售,其条款规 or sale of a financial asset under a contract whose 定须按市场规例或惯例普遍订立之 terms require delivery of the asset within the time frame 时限内交付资产。 established generally by regulation or convention in the marketplace concerned. 178 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Investment in debt and equity securities 投资债务及股本证券 The Group’s policies for investments in debt and equity 本集团对债务及股本证券投资(于 securities, other than investments in subsidiaries and 附属公司及联营公司之投资除外) associates, are as follows: 之政策如下: Investments in debt and equity securities are initially 债务及股本证券投资初步以公允值 stated at fair value, which is their transaction price unless 列账,而该公允值为彼等之交易 it is determined that the fair value at initial recognition 价,除非确定初始确认之公允值与 differs from the transaction price and that fair value is 成交价有别,且公允值以同一资产 evidenced by a quoted price in an active market for 或负债于交投活跃之市场上之报价 an identical asset or liability or based on a valuation 为证,或根据仅使用从可观察市场 technique that uses only data from observable markets. 得出之数据之估值技术计算得出。 Cost includes attributable transaction costs, except 成本包括应占交易成本,惟下文另 where indicated otherwise below. These investments are 有所指除外。该等投资按其类别其 subsequently accounted for as follows, depending on 后列账如下: their classification: Investments in securities held for trading are classified 持作买卖之证券投资被分类为流动 as current assets. Any attributable transaction costs are 资产。任何应占之交易成本于产生 recognised in profit or loss as incurred. At the end of 时于损益内确认。于每个报告期 each reporting period the fair value is remeasured, with 末,公允值将予以重新计量,任何 any resultant gain or loss being recognised in profit or 因此产生之盈亏于损益内确认。 loss. Debt securities that the Group has the positive ability and 本集团有能力并计划持有至到期之 intention to hold to maturity are classified as held-to- 债务证券乃分类为持有至到期证 maturity securities. Held-to-maturity securities are stated 券。持有至到期证券按摊销成本扣 at amortised cost less impairment losses. 除减值亏损列账。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 179 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Investment in debt and equity securities (Continued) 投资债务及股本证券(续) Investments in securities which do not fall into any of 其他不属于上述任何类别之证券投 the above categories are classified as available-for- 资归类为可供出售投资。于每个报 sale investments. At the end of each reporting period 告期末,公允值将予以重新计量, the fair value is remeasured, with any resultant gain or 任何因此产生之盈亏于其他全面收 loss being recognised in other comprehensive income 入中确认并于权益中的公允值储备 and accumulated separately in equity in the fair value 中单独累计。此之例外情况为,股 reserve. As an exception to this, investments in equity 本证券投资并无同一工具于交投活 securities that do not have a quoted price in an active 跃之市场之报价且其公允值无法可 market for an identical instrument and whose fair value 靠地计量,乃按成本减减值亏损后 cannot otherwise be reliably measured are recognised in 于财务状况报表确认。股本证券所 the statement of financial position at cost less impairment 得股息收入及采用实际利率法计算 losses. Dividend income from equity securities and 之债务证券所得利息收入于损益内 interest income from debt securities calculated using 确认。债务证券摊销成本变动产生 the effective interest method are recognised in profit or 之外汇盈亏亦于损益内确认。 loss. Foreign exchange gains and losses resulting from changes in the amortised cost of debt securities are also recognised in profit or loss. When the investments are derecognised or impaired, 倘终止确认该等投资或减值,先前 the cumulative gain or loss recognised in equity is 于权益中确认之累计盈亏会重新分 reclassified to profit or loss. Investments are recognised 类至损益。该等投资分别于本集团 or derecognised on the date the Group commits 承诺购买或出售该等投资日予以确 to purchase or sell the investments or they expire 认或终止确认,或于投资到期日终 respectively. 止确认。 180 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Loans and receivables 贷款及应收款项 Loans and receivables are non-derivative financial assets 贷款及应收款项为具固定或可予厘 with fixed or determinable payments that are not quoted 定付款金额,而在活跃市场中并无 in an active market. They arise principally through the 报价之非衍生金融资产。该等资产 provision of goods and services to customers (trade 乃主要于向客户(应收账款)提供商 debtors), and also incorporate other types of contractual 品及服务过程中产生,且同时亦包 monetary asset. Loans and receivables are subsequently 括其他类别之合约货币资产。贷款 measured at amortised cost using the effective interest 及应收款项其后以实际利率法按摊 method, less any impairment losses. Amortised cost is 销成本,减任何减值亏损计量。摊 calculated taking into account any discount or premium 销成本于计算时已计及任何收购时 on acquisition and includes fees that are an integral part 产生之折让或溢价,并包括构成实 of the effective interest rate and transaction cost. 际利率及交易成本整体一部分之费 用。 Impairment of investments in debt and equity 债务及股本证券投资及其他应收款 securities and other receivables 之减值 Investments in debt and equity securities and other 债务及股本证券投资及其他流动及 current and non-current receivables that are stated at 非流动应收款若按成本或摊销成本 cost or amortised cost or are classified as available- 列账,或归类为可供出售投资,会 for-sale investments are reviewed at the end of 于每个报告期末进行审阅以确定是 each reporting period to determine whether there is 否有客观减值证据。客观减值证据 objective evidence of impairment. Objective evidence of 包括本集团注意到一项或多项以下 impairment includes observable data that comes to the 亏损事件之可观察数据: attention of the Group about one or more of the following loss events: – significant financial difficulty of the debtor; - 债务人出现重大财政困难; – a breach of contract, such as a default or - 违反合 约,例如拖欠还款或 delinquency in interest or principal payments; 逾期未付利息或本金付款; SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 181 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Impairment of investments in debt and equity 债务及股本证券投资及其他应收款 securities and other receivables (Continued) 之减值(续) – it becoming probable that the debtor will enter - 债务人可能进入破产或其他 bankruptcy or other financial reorganisation; 财务重组程序; – significant changes in the technological, market, - 科技、市场、经济或法律环 economic or legal environment that have an adverse 境出现对债务人有不利影响 effect on the debtor; and 之重大变动;及 – a significant or prolonged decline in the fair value - 于权益工具投资之公允值出 of an investment in an equity instrument below its 现显著或持续贬值,使其低 cost. 于成本值。 If any such evidence exists, any impairment loss is 如存在任何上述迹象,则按下列方 determined and recognised as follows: 式厘定及确认减值亏损: – For unquoted equity securities carried at cost, - 就按成本列账之无市场报价 the impairment loss is measured as the difference 之股本证券而言,减值亏损 between the carrying amount of the financial asset 乃按金融资产之账面值与估 and the estimated future cash flows, discounted 计未来现金流量(如贴现之影 at the current market rate of return for a similar 响重大,则按类似金融资产 financial asset where the effect of discounting is 之现行市场回报率贴现)两者 material. Impairment losses for equity securities 间之差额计量。按成本列账 carried at cost are not reversed. 之股本证券之减值亏损不会 被转回。 182 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Impairment of investments in debt and equity 债务及股本证券投资及其他应收款 securities and other receivables (Continued) 之减值(续) – For trade and other current receivables and other - 就按摊销成本列账之贸易及 financial assets carried at amortised cost, the 其他应收流动款及其他金融 impairment loss is measured as the difference 资产而 言,减值亏损乃按资 between the asset’s carrying amount and the 产账面值与估计未来现金流 present value of estimated future cash flows, 量按金融资产原有之实际利 discounted at the financial asset’s original 率(即在初始确认该等资产时 effective interest rate (i.e. the effective interest rate 计算之实际利率)贴现之现值 computed at initial recognition of these assets), 两者间之差额计量(如贴现之 where the effect of discounting is material. This 影响重大)。当该等金融资产 assessment is made collectively where these 拥有类似之风险特征(例如类 financial assets share similar risk characteristics, 似之逾期状况),且未有独立 such as similar past due status, and have not been 评估为已减值,则会进行此 individually assessed as impaired. Future cash 项集体评估。 进行集体减值 flows for financial assets which are assessed for 评估之金融资产之未来现金 impairment collectively are based on historical loss 流量乃根据与该集体组合拥 experience for assets with credit risk characteristics 有类似信贷风险特征之资产 similar to the collective group. 之过往亏损经验。 If in a subsequent period the amount of an 如于其后期间,减值亏损数 impairment loss decreases and the decrease can 额减少,而有关减少客观上 be linked objectively to an event occurring after the 与减值亏损确认后发生之事 impairment loss was recognised, the impairment 件有关,则减值亏损会透过 loss is reversed through profit or loss. A reversal 损益转 回。减值亏损转回不 of an impairment loss shall not result in the asset’s 得导致资产账面值超出假设 carrying amount exceeding that which would have 过往年度并无确认减值亏损 been determined had no impairment loss been 而可能厘定之金额。 recognised in prior years. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 183 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Impairment of investments in debt and equity 债务及股本证券投资及其他应收款 securities and other receivables (Continued) 之减值(续) – For available-for-sale investments, the cumulative - 就可供出售投资而 言,已在 loss that has been recognised in the fair value 公允值储备中确认之累计亏 reserve is reclassified to profit or loss. The amount 损会重新分类至损 益。于损 of the cumulative loss that is recognised in profit or 益确认之累计亏损金额为收 loss is the difference between the acquisition cost 购成本(扣除任何本金还款及 (net of any principal repayment and amortisation) 摊销)与现行公允值之差额, and current fair value, less any impairment loss on 扣除先前就该资产于损益中 that asset previously recognised in profit or loss. 确认之任何减值亏损。 Impairment losses recognised in profit or loss in 可供出售股本证券之减值亏 respect of available-for-sale equity securities are 损如已于损益内确 认,则不 not reversed through profit or loss. Any subsequent 会透过损益转回。其后有关 increase in the fair value of such assets is 资产公允值之任何增加会于 recognised in other comprehensive income. 其他全面收入中确认。 Impairment losses in respect of available-for-sale 倘若其后可供出售债务证券 debt securities are reversed if the subsequent 之公允值增加,而有关增加 increase in fair value can be objectively related to 可以客观地与确认减值亏损 an event occurring after the impairment loss was 后发生之事件联系起来, 则 recognised. Reversals of impairment losses in such 会将减值亏损转回。在该等 circumstances are recognised in profit or loss. 情况下,减值亏损转回会于 损益确认。 184 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Impairment of investments in debt and equity 债务及股本证券投资及其他应收款 securities and other receivables (Continued) 之减值(续) – Impairment losses are written off against the - 减值亏损直接于相应之资产 corresponding assets directly, except for 撇销,惟就应收账款及其他 impairment losses recognised in respect of trade 应收款所确认之减值亏损除 debtors included within trade and other receivables, 外,其金额之可收回性视为 whose recovery is considered doubtful but not 存疑但并非不可能。此情况 remote. In this case, the impairment losses for 下,呆账之减值亏损会采用 doubtful debts are recorded using an allowance 拨备账来记录。当本集团认 account. When the Group is satisfied that recovery 为收回金额可能性甚微, 视 is remote, the amount considered irrecoverable is 为不可收回之金额会于应收 written off against trade debtors directly and any 账款中直接撇销,并转回于 amounts held in the allowance account relating 拨备账内关于该债务之任何 to that debt are reversed. Subsequent recoveries 金额。过去于拨备账扣除之 of amounts previously charged to the allowance 金额倘在其后收回,会于拨 account are reversed against the allowance 备账内转回。 拨备账之其他 account. Other changes in the allowance account 变动及先前直接撇销之金额 and subsequent recoveries of amounts previously 于其后收回, 均于损益中确 written off directly are recognised in profit or loss. 认。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 185 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Financial liabilities 金融负债 The Group’s financial liabilities include trade payables, 本集团之金融负债包括应付贸易款 accrued charges and other payables, amounts due 项、应计费用及其他应付款项、应 to related parties and non-controlling interests and 付关联方及非控股权益款项及借 borrowings. 贷。 Financial liabilities are recognised when the Group 当本集团成为工具合约条文之一方 becomes a party to the contractual provisions of the 时,会确认金融负债。所有与利息 instruments. All interest related charges are recognised 有关之费用根据本集团有关借贷成 in accordance with the Group’s accounting policy for 本之会计政策确认。 borrowing costs. A financial liability is derecognised when the obligation 当相关合约所指定之义务解除、取 specified in the relevant contract is discharged, cancelled 消或到期时,则解除确认金融负 or expires. 债。 Where an existing financial liability is replaced by another 倘一项现有金融负债为另一项来自 from the same lender on substantially different terms, 同一借款人根据重大不同条款订立 or the terms of an existing liability are substantially 之金融负债所取代,或现有负债之 modified, such an exchange or modification is treated as 条款经重大修改时,有关取代或修 a derecognition of the original liability and the recognition 改会被视为解除确认原负债及确认 of a new liability, and the difference in the respective 一项新负债,且相应账面金额之差 carrying amount is recognised in profit or loss. 额于损益表中确认。 186 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.8 Financial Instruments (accounting policies applied 4.8 金融工具(二零一八年三月三十一 until 31 March 2018) (Continued) 日之前应用的会计政策()续) Financial liabilities (Continued) 金融负债(续) Borrowings 借贷 Borrowings are recognised initially at fair value, net of 借贷初步按公允值(扣除所产生之 transaction costs incurred. Borrowings are subsequently 交易成本)确认。借贷随后按摊销 stated at amortised cost; any difference between the 成本列账;所得款项(扣除交易成 proceeds (net of transaction costs) and the redemption 本)及赎回价值之间之任何差额利 value is recognised in profit or loss over the period of the 用实际利息法于借贷期间于损益表 borrowings using the effective interest method. 确认。 Borrowings are classified as current liabilities unless the 除非本集团拥有无条件权利,可延 Group has an unconditional right to defer settlement of 迟至报告期末后最少十二个月清偿 the liability for at least twelve months after the end of the 负债,否则借贷分类为流动负债。 reporting period. Other financial liabilities 其他金融负债 These include trade and other payables, accrued charges 该等金融负债包括应付贸易款项及 and amounts due to subsidiaries, related parties and 其他应付款项、应计费用及应付附 non-controlling interests and are recognised initially at 属公司、关联方及非控股权益款 their fair value and subsequently measured at amortised 项,初步按其公允值确认,随后利 cost, using the effective interest method. 用实际利息法按摊销成本计量。 4.9 Inventories 4.9 存货 Inventories are stated at the lower of cost and net 存货按成本及可变现净值两者中之 realisable value. Costs of automobiles, watches and 较低者列账。计入存货之汽车、手 jewelleries included in the inventories are determined 表及珠宝成本按先进先出法厘定, using the first-in, first-out method while the other 而其他具不同性质之存货乃以加权 inventories with different nature are determined using the 平均法厘定。 weighted average basis. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 187 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.10 Cash and cash equivalents 4.10 现金及现金等值项目 Cash and cash equivalents include cash at banks and 现金及现金等值项目包括银行及手 in hand, demand deposits with banks and short-term 头现金、存于银行之活期存款,以 highly liquid investments with original maturities of three 及原到期日为三个月或以下、可随 months or less that are readily convertible into known 时转换为已知金额之现金且不存在 amounts of cash and which are subject to an insignificant 重大价值变动风险之短期高流动性 risk of changes in value. For the purpose of cash flows 投资。就现金流量呈报而言,现金 presentation, cash and cash equivalents include bank 及现金等值项目包括须按要求偿还 overdrafts which are repayable on demand and form an 之银行透支,为本集团现金管理之 integral part of the Group’s cash management. 组成部分。 4.11 Leases 4.11 租赁 An arrangement, comprising a transaction or a series 倘本集团厘定一项安排赋予于一段 of transactions, is or contains a lease if the Group 协定期间内使用某一或多项指定资 determines that the arrangement conveys a right to use 产之权利,并以付款或连串付款作 a specific asset or assets for an agreed period of time 为交换,则该项安排(包括一项交 in return for a payment or a series of payments. Such 易或连串交易)属于或包含租赁。 a determination is made based on an evaluation of 本集团乃于评估该项安排之实际内 the substance of the arrangement and is regardless of 容后作出上述厘定,当中不会考虑 whether the arrangement takes the legal form of a lease. 该项安排是否具有租赁之法定形 式。 Assets that are held by the Group under leases which 对于本集团以租赁持有之资产,倘 transfer to the Group substantially all the risks and 租赁使所有权之绝大部分风险和回 rewards of ownership are classified as being held under 报转移至本集团,有关资产便会划 finance leases. Leases which do not transfer substantially 归为以融资租赁持有;倘租赁不会 all the risks and rewards of ownership to the Group are 使所有权之绝大部分风险和回报转 classified as operating leases. 移至本集团,则划归为经营租赁。 188 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.11 Leases (Continued) 4.11 租赁(续) (a) Operating lease charges as the lessor (a) 作为出租人之经营租赁费用 Assets leased out under operating leases are 根据经营租赁出租之资产按 measured and presented according to the nature of 资产性质计量及呈 列。磋商 the assets. Initial direct costs incurred in negotiating 及安排经营租赁时产生之初 and arranging an operating lease are added to the 步直接成本计入租赁资产之 carrying amount of the leased asset and recognised 账面金 额,并于租赁期内按 as an expense over the lease term on the same 与租金收入相同之基准确认 basis as rental income. 为开支。 Rental income receivable from operating leases 经营租赁之应收租金收入按 is recognised in profit or loss on the straight- 租赁期涵盖期间以直线法在 line method over the periods covered by the 损益表确认, 但如有其他基 lease term, except where an alternative basis is 准能更清楚地反映使用租赁 more representative of the pattern of benefits 资产所产生之收益模式则除 to be derived from the use of the leased asset. 外。获授之租赁奖励在损益 Lease incentives granted are recognised in profit 表中确认为应收租赁净付款 or loss as an integral part of the aggregate net 总额之组成部分。或然租金 lease payments receivable. Contingent rentals are 在其产生之会计期间内确认 recognised as income in the accounting period in 为收入。 which they are earned. (b) Operating lease charges as the lessee (b) 作为承租人之经营租赁费用 Where the Group has the right to use the assets 倘本集团有权使用以经营租 held under operating leases, payments made 赁持有之资产,则根据租赁 under the leases are charged to profit or loss on 作出之付款会在租赁期内, a straight-line basis over the lease terms except 以直线法在损益表扣除; 但 where an alternative basis is more representative 如有其他基准能更清楚地反 of the time pattern of benefits to be derived from 映租赁资产所产生之收益时 the leased assets. Lease incentives received are 间模式则除外。已收租赁奖 recognised in profit or loss as an integral part of the 励在损益表中确认为已付租 aggregate net lease payments made. Contingent 赁净付款总额之组成部分。 rental are charged to profit or loss in the accounting 或然租金在其产生之会计期 period in which they are incurred. 间内在损益表扣除。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 189 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.12 Provisions and contingent liabilities 4.12 拨备及或然负债 Provisions are recognised for other liabilities of 倘本集团须就已发生之事件承担法 uncertain timing or amount when the Group has a legal 定或推定责任,而履行该责任预期 or constructive obligation arising as a result of a past 会导致含有经济效益之资源外流, event, it is probable that an outflow of economic benefits 并可作出可靠之估计,便会就该时 will be required to settle the obligation and a reliable 间或数额不定之其他负债计提拨 estimate can be made. Where the time value of money is 备。倘货币时间价值重大,则按预 material, provisions are stated at the present value of the 计履行责任所需资源之现值计提拨 expenditure expected to settle the obligation. 备。 Where it is not probable that an outflow of economic 倘含有经济效益之资源外流之可能 benefits will be required, or the amount cannot be 性较低,或是无法对有关数额作出 estimated reliably, the obligation is disclosed as a 可靠之估计,除非资源外流之可能 contingent liability, unless the probability of outflow of 性极低,否则便会将该义务披露为 economic benefits is remote. Possible obligations, whose 或然负债。须视乎某宗或多宗未来 existence will only be confirmed by the occurrence or 事件是否发生才能确定存在与否之 non-occurrence of one or more future events are also 潜在责任,除非资源外流之可能性 disclosed as contingent liabilities unless the probability of 极低,否则亦会披露为或然负债。 outflow of economic benefits is remote. 4.13 Share capital 4.13 股本 Ordinary shares are classified as equity. Share capital is 普通股分类为权益。股本采用已发 determined using the nominal value of shares that have 行股份之面值厘定。 been issued. 190 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.14 Revenue recognition (Accounting policies applied 4.14 收益确认(自二零一八年四月一日 from 1 April 2018) 起应用的会计政策) Revenue from contracts with customers is recognised 当货品或服务控制权转移予客户时 when control of goods or services is transferred to the 确认客户合约收益,而该金额反映 customers at an amount that reflects the consideration 本集团预期就提供该等货品或服务 to which the Group expects to be entitled in exchange 有权获得的代价(经扣除代表第三 for those goods or services, excluding those amounts 方收取的金额 )。收益不包括增值 collected on behalf of third parties. Revenue excludes 税或其他销售税,并经扣除任何贸 value added tax or other sales taxes and is after 易折扣。 deduction of any trade discounts. Depending on the terms of the contract and the laws that 货品或服务的控制权是在一段时间 apply to the contract, control of the goods or service may 内或某一时间点转移,取决于合约 be transferred over time or at a point in time. Control 的条款与适用于合约的法律规定。 of the goods or service is transferred over time if the 倘本集团在履约过程中符合下列条 Group’s performance: 件,货品或服务的控制权乃在一段 时间内转移: provides all of the benefits received and consumed 提供全部利益,而客户亦同 simultaneously by the customer; 步收到并消耗有关利益; creates or enhances an asset that the customer 本集团履约时创建及优化由 controls as the Group performs; or 客户控制的资产;或 does not create an asset with an alternative use to 并无产生对本集团有替代用 the Group and the Group has an enforceable right 途的资 产,且本集团可强制 to payment for performance completed to date. 执行其权利以收取累计至今 已完成履约部分的款项。 If control of the goods or services transfers over time, 倘货品或服务的控制权在一段时间 revenue is recognised over the period of the contract by 内转移,则收益乃于整个合约期间 reference to the progress towards complete satisfaction 经参考完成履行履约责任的进度确 of that performance obligation. Otherwise, revenue is 认。否则,收益于客户获得货品或 recognised at a point in time when the customer obtains 服务控制权的时间点确认。 control of the goods or service. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 191 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.14 Revenue recognition (Accounting policies applied 4.14 收益确认(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) When the contract contains a financing component which 倘合约中包含为客户提供超过一年 provides the customer a significant benefit of financing 有关向客户转让货品或服务的重大 the transfer of goods or services to the customer 融资利益的融资部分,则收益按应 for more than one year, revenue is measured at the 收金额的现值计量,并使用本集团 present value of the amounts receivable, discounted 与客户订立合约时在单独融资交易 using the discount rate that would be reflected in a 中反映的贴现率贴现。倘合约中包 separate financing transaction between the Group and 含为本集团提供重大融资利益的融 the customer at contract inception. Where the contract 资部分,则根据该合约确认的收益 contains a financing component which provides a 包括按实际利率法计算的合约负债 significant financing benefit to the Group, revenue 所产生的利息开支。就所承诺货品 recognised under that contract includes the interest 或服务的付款至转让期限为一年或 expense accreted on the contract liability under the 以内的合约而言,交易价格不会运 effective interest method. For contracts where the period 用香港财务报告准则第15号的实际 between the payment and the transfer of the promised 权宜方法就重大融资部分的影响作 goods or services is one year or less, the transaction 出调整。 price is not adjusted for the effects of a significant financing component, using the practical expedient in HKFRS 15. Sales of automobile 销售汽车 Revenue arising from the sales of automobile is 销售汽车产生的收益于客户获得汽 recognised when the customer obtains control of the 车控制权时确认。厘定客户获得汽 automobile. Factors to determine when the customers 车控制权的因素包括发出登记文 obtain control of automobile include issuance of 件、已支付全款及货品已交付予客 registration document, full payments have been made 户并或客户接纳。 and the goods have been delivered to and accepted by the customers. 192 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.14 Revenue recognition (Accounting policies applied 4.14 收益确认(自二零一八年四月一日 from 1 April 2018) (Continued) 起应用的会计政策()续) Sales of other merchandised goods 销售其他商品 Revenue arising from the sales of other merchandised 销售其他商品所产生的收入指扣除 goods represents the net invoiced value of goods sold, 退货、贸易折扣及增值税后的销售 after allowances for returns, trade discounts and value 货品的发票净值,并于资产控制权 added tax and is recognised at the point in time when 转移至客户时确认,通常于交货 control of the asset is transferred to the customer, 时。 generally on delivery of the goods. Services income 服务收入 Revenue arising from the services is recognised over time 服务所产生的收入于提供服务的期 as these service are provided. 间确认。 Rental income from operating leases 经营租赁产生的租金收入 Rental income receivable under operating leases is 经营租赁之应收租金收入按租赁期 recognised in profit or loss in equal instalments over 涵盖期间以等额分期在损益表确 the periods covered by the lease term, except where an 认,但如有其他基准能更清楚地反 alternative basis is more representative of the pattern of 映使用租赁资产所产生之利益模式 benefits to be derived from the use of the leased asset. 则除外。获授之租赁奖励在损益表 Lease incentives granted are recognised in profit or loss 中确认为应收租赁净付款总额之组 as an integral part of the aggregate net lease payments 成部分。 receivable. Contingent rentals are recognised as income in the 或然租金在其产生之会计期间内确 accounting period in which they are earned. 认为收入。 Interest income 利息收入 Interest income is recognised on a time-proportion basis 利息收入根据实际利息法按时间比 using the effective interest method. 例确认。 Dividend income 股息收入 Dividend income from listed investments is recognised 来自上市投资之股息收入于投资之 when the share price of the investment goes ex-dividend. 股价除息时确认。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 193 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.15 Revenue recognition (Accounting policies applied 4.15 收 益 确 认( 于 二 零 一 八 年 三 月 until 31 March 2018) 三十一日前应用的会计政策) Revenue comprises the fair value of the consideration 收益包括销售货品、提供服务以及 received and receivable for the sale of goods, rendering 其他人士使用本集团资产获得利息 of services and the use by others of the Group’s assets 及股息之已收及应收代价公允值 yielding interest and dividends, net of returns and (扣减退货及折扣)。假设经济利益 discounts. Provided it is probable that the economic 极可能流向本集团,且收益及成本 benefits will flow to the Group and the revenue and (如适用)能可靠地计量,则按下列 costs, if applicable, can be measured reliably, revenue is 基准确认收益: recognised as follows: Sale of goods is recognised upon transfer of the 货品销售乃于拥有权之主要风险及 significant risks and rewards of ownership to customer. 回报转移予客户时确认。此情况一 This is usually taken as the time when the goods are 般被视为货品交付及客户接纳货品 delivered and the customer has accepted the goods. 之时。 Services income is recognised when services are 服务收入乃于提供服务时确认。 rendered. Interest income is recognised on a time-proportion basis 利息收入根据实际利息法按时间比 using the effective interest method. 例确认。 Rental income receivable from operating leases is 经营租赁之应收租金收入按租赁期 recognised in profit or loss on the straight-line method 涵盖期间以直线法在损益表确认, over the periods covered by the lease term, except where 但如有其他基准能更清楚地反映使 an alternative basis is more representative of the pattern 用租赁资产所产生之利益模式则除 of benefits to be derived from the use of the leased asset. 外。获授之租赁奖励在损益表中确 Lease incentives granted are recognised in profit or loss 认为应收租赁净付款总额之组成部 as an integral part of the aggregate net lease payments 分。或然租金在其产生之会计期间 receivable. Contingent rentals are recognised as income 内确认为收入。 in the accounting period in which they are earned. Dividend income from listed investments is recognised 来自上市投资之股息收入于投资之 when the share price of the investment goes ex-dividend. 股价除息时确认。 194 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.16 Borrowing costs 4.16 借贷成本 Borrowing costs attributable directly to the acquisition, 收购、建设或生产需要长时间筹备 construction or production of qualifying assets which 作拟定用途或销售之合资格资产之 require a substantial period of time to be ready for their 直接应占借贷成本,将作为该等资 intended use or sale, are capitalised as part of the cost of 产之一部分成本资本化。有待用于 该等资产支出之特定借贷作短期投 those assets. Income earned on temporary investments 资所赚取之收入会于资本化借贷成 of specific borrowings pending their expenditure 本扣除。所有其他借贷成本于产生 on those assets is deducted from borrowing costs 期间之损益表确认。 capitalised. All other borrowing costs are recognised in profit or loss in the period in which they are incurred. 4.17 Impairment of other assets 4.17 其他资产减值 Internal and external sources of information are reviewed 本集团于各报告期末审阅内部及外 at the end of each reporting period to identify indications 来之讯息,以确定下列资产有否出 that the following assets may be impaired or, except 现减值迹象,或,除商誉外,以往 in the case of goodwill, an impairment loss previously 确认之减值亏损不复存在或可能已 recognised no longer exists or may have decreased: 经减少: – property, plant and equipment; - 物业、机器及设备; – other intangible assets; - 其他无形资产; – goodwill; and - 商誉;及 – investments in subsidiaries in the Company’s - 本公司财务状况报表所示之 statement of financial position. 于附属公司之投资。 If any such indication exists, the asset’s recoverable 倘发现任何有关迹象,则估计该资 amount is estimated. In addition, for goodwill, the 产之可收回金额。此外,就商誉而 recoverable amount is estimated annually whether or not 言,无论是否出现减值迹象,均会 there is any indication impairment. 每年估计其可收回金额。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 195 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.17 Impairment of other assets (Continued) 4.17 其他资产减值(续) – Calculation of recoverable amount - 计算可收回金额 The recoverable amount of an asset is the higher 资产之可收回金额以其公允 of its fair value less costs of disposal and value in 值减出售成本及使用价值两 use. In assessing value in use, the estimated future 者中之较高金额为 准。在评 cash flows are discounted to their present value 估使用价值时,会使用除税 using a pre-tax discount rate that reflects current 前贴现率将估计未来现金流 market assessments of the time value of money 量贴现至现值。该贴现率应 and the risks specific to the asset. Where an asset 反映市场当时所评估之货币 does not generate cash inflows largely independent 时间价值及该资产之独有风 of those from other assets, the recoverable amount 险。倘资产所产生之现金流 is determined for the smallest group of assets that 基本上不独立于其他资产所 generates cash inflows independently (i.e. cash 产生之现金流,则以能独立 generating unit (“CGU”)). 产生现金流之最小资产组别 (即现金产生单位(「现在产生 单位」))来厘定可收回金额。 – Recognition of impairment losses - 确认减值亏损 An impairment loss is recognised in profit or loss 当资产或其所属现金产生单 if the carrying amount of an asset, or the CGU to 位之账面值超过其可收回金 which it belongs, exceeds its recoverable amount. 额,即会于损益中确认减值 Impairment losses recognised in respect of CGUs 亏损。就现金产生单位确认 are allocated first to reduce the carrying amount 之减值亏损, 首先会分配以 of any goodwill allocated to the CGU (or group of 减少摊分至该现金产生单位 units) and then, to reduce the carrying amount of (或一组单位)之商誉之账面 the other assets in the unit (or group of units) on a 值,然后再按比例减少该单 pro rata basis, except that the carrying value of an 位(或一组单位)内其他资产 asset will not be reduced below its individual fair 之账面 值,但资产之账面值 value less costs of disposal (if measurable) or value 不得减少至低于其本身之公 in use (if determinable). 允值减出售成 本( 如能计量) 或使用价值(如能厘定)。 196 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.17 Impairment of other assets (Continued) 4.17 其他资产减值(续) – Reversals of impairment losses - 减值亏损转回 In respect of assets other than goodwill, an 就资 产( 不包括商誉)而 言, impairment loss is reversed if there has been 倘若用以厘定可收回金额之 a favourable change in the estimates used to 估计数据发生有利之变化, determine the recoverable amount. An impairment 便会将资产减值亏损转回。 loss in respect of goodwill is not reversed. 商誉之减值亏损不可转回。 A reversal of an impairment loss is limited to 所转回之减值亏损以假设过 the asset’s carrying amount that would have 往年度并无确认减值亏损而 been determined had no impairment loss been 应厘定之资产账面值为限。 recognised in prior years. Reversals of impairment 所转回之减值亏损在确认转 losses are credited to profit or loss in the year in 回之年度内计入损益。 which the reversals are recognised. 4.18 Employee benefits 4.18 雇员福利 (a) Retirement benefits (a) 退休福利 Retirement benefits to employees are provided 雇员退休福利透过界定供款 through defined contribution plans. 计划提供。 The Group operates a defined contribution 本集团根据强制性公积金计 Mandatory Provident Fund retirement benefit 划条例,为所有合资格参与 scheme (the “MPF Scheme”) under the Mandatory 界定供款强制性公积金退休 Provident Fund Schemes Ordinance, for all of its 福利 计 划(「 强 积金计划 」)之 employees who are eligible to participate in the 雇员提供一项强积金计划。 MPF Scheme. Contributions are made based on a 供款基于雇员基本薪金之百 percentage of the employees’ basic salaries. 分比作出。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 197 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.18 Employee benefits (Continued) 4.18 雇员福利(续) (a) Retirement benefits (Continued) (a) 退休福利(续) The employees of the Group’s subsidiaries 本集团在中国内地营运之附 which operate in Mainland China are required to 属公司之雇员须参加当地市 participate in a central pension scheme operated by 政府营办之中央退休金计 the local municipal government. These subsidiaries 划。此等附属公司须向中央 are required to contribute a percentage of their 退休金计划作出相当于其工 payroll costs to the central pension scheme. 资成本一定百分比之供款。 Contributions are recognised as an expense in 供款于雇员于年内提供服务 profit or loss as employees render services during 时在损益表内确认为开支。 the year. The Group’s obligations under these plans 本集团于该等计划项下之责 are limited to the fixed-percentage contributions 任限于应付之固定百分比供 payable. 款。 (b) Short-term employee benefits (b) 短期雇员福利 Employee entitlements to annual leave are 雇员有权享有之年假于雇员 recognised when they accrue to employees. A 可享有时确认。本公司就雇 provision is made for the estimated liability for 员因截至报告期末止所提供 annual leave as a result of services rendered by 服务而可享有年假之估计负 employees up to the end of the reporting period. 债作出拨备。 Non-accumulating compensated absences such as 非累计计薪休假(如病假及分 sick leave and maternity leave are not recognised 娩假期)于提取假期时方予确 until the time of leave. 认。 198 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.18 Employee benefits (Continued) 4.18 雇员福利(续) (c) Share-based employee compensation (c) 以股份为基础之雇员补偿 The Group operates equity-settled share- 本集团为其雇员之薪酬设立 based compensation plans for remuneration of 以权益结算以股份为基础之 its employees. All employee services received 补偿计 划。所有以授予以股 in exchange for the grant of any share-based 份为基础之补偿作为交换之 compensation are measured at their fair values. 已收雇员服务乃按其公允值 These are indirectly determined by reference to 计量。此乃经参考所给予之 the equity instruments awarded. Their value is 权益工具间接厘定。其价值 appraised at the grant date and excludes the 于授出日期评值,并排除一 impact of any non-market vesting conditions (for 切非市场归属条件(如盈利能 example, profitability and sales growth targets). 力及销售增长目标)之影响。 All share-based compensation is recognised as an 倘归属条件适用,所有以股 expense in profit or loss over the vesting period 份为基础之补偿于归属期内 if vesting conditions apply, or recognised as an 在损益表确认为开 支,或于 expense in full at the grant date when the equity 授出日期在所授予权益工具 instruments granted vest immediately unless the 归属时悉数确认为开支, 惟 compensation qualifies for recognition as asset, 倘补偿合资格确认为资产, with a corresponding increase in the share option 则于权益内之购股权储备会 reserve in equity. If vesting conditions apply, the 相 应 调 高。 如 归 属 条 件 适 expense is recognised over the vesting period, 用,则按对预期归属之权益 based on the best available estimate of the number 工具数目之最佳估 计,于归 of equity instruments expected to vest. Non-market 属期内确认开支。非市场归 vesting conditions are included in assumptions 属条件计入对预期归属之权 about the number of equity instruments that are 益工具数目之假设 内。如有 expected to vest. Estimates are subsequently 迹象显示预期归属之权益工 revised, if there is any indication that the number 具数目与原先估计不同, 则 of equity instruments expected to vest differs from 于其后修订估计。 previous estimates. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 199 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.18 Employee benefits (Continued) 4.18 雇员福利(续) (c) Share-based employee compensation (c) 以股份为基础之雇员补偿 (Continued) (续) At the time when the share options have exercised, 行使购股权时,过往于购股 the amount previously recognised in share option 权储备确认之金额会转拨至 reserve is transferred to share premium. After 股份溢价。于归属日期后, vesting date, when the vested share options have 倘已归属购股权被没收或于 forfeited or still have not been exercised at the 届满日期尚未行使,则过往 expiry date, the amount previously recognised in 于购股权储备确认之金额会 share option reserve is transferred to contribute 转拨至缴入盈余。 surplus. 4.19 Income taxes 4.19 所得税 Income tax for the year comprises current tax and 本年度所得税包括本期税项及递延 movements in deferred tax assets and liabilities. Current 税项资产和负债之变动。本期税项 tax and movements in deferred tax assets and liabilities 及递延税项资产和负债之变动均在 are recognised in profit or loss except to the extent that 损益内确认,惟与于其他全面收入 they relate to items recognised in other comprehensive 或直接于权益内确认之项目有关者 income or directly in equity, in which case the relevant 则除外,在此情况下,税项之相关 amounts of tax are recognised in other comprehensive 金额乃分别于其他全面收入或直接 income or directly in equity, respectively. 于权益内确认。 Current tax is the expected tax payable on the taxable 本期税项是按本年度应课税收入根 income for the year, using tax rates enacted or 据已执行或在报告期末实质上已执 substantively enacted at the end of the reporting period, 行之税率计算之预期应付税项,加 and any adjustment to tax payable in respect of previous 上以往年度应付税项之任何调整。 years. 200 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.19 Income taxes (Continued) 4.19 所得税(续) Deferred tax assets and liabilities arise from deductible 递延税项资产和负债分别由可抵扣 and taxable temporary differences respectively, being 及应课税暂时差异产生。暂时差异 the differences between the carrying amounts of assets 是指资产和负债在财务报表上之账 and liabilities for financial reporting purposes and their 面值与其计税基础之差异。递延税 tax bases. Deferred tax assets also arise from unused tax 项资产也可从未用税项亏损及未用 losses and unused tax credits. 税项抵免产生。 Apart from certain limited exceptions, all deferred tax 除了某些例外情况外,所有递延税 liabilities, and all deferred tax assets to the extent that 项负债和递延税项资产(只限于有 it is probable that future taxable profits will be available 可能利用未来应课税利润作抵扣之 against which the asset can be utilised, are recognised. 资产)均会被确认。支持确认由可 Future taxable profits that may support the recognition 抵扣暂时差异所产生之递延税项资 of deferred tax assets arising from deductible temporary 产之未来应课税利润包括因转回目 differences include those that will arise from the reversal 前存在之应课税暂时差异而产生之 of existing taxable temporary differences, provided those 数额;但这些转回之差异必须与同 differences relate to the same taxation authority and 一税务机关及同一应课税实体有 the same taxable entity, and are expected to reverse 关,并预期在可抵扣暂时差异预计 either in the same period as the expected reversal of the 转回之同一期间或递延税项资产所 deductible temporary difference or in periods into which 产生之税项亏损可向后期或向前期 a tax loss arising from the deferred tax asset can be 结转之期间内转回。在决定目前存 carried back or forward. The same criteria are adopted 在之应课税暂时差异是否足以支持 when determining whether existing taxable temporary 确认由未用税项亏损及未用税项抵 differences support the recognition of deferred tax assets 免所产生之递延税项资产时,亦会 arising from unused tax losses and credits, that is, those 采用同一准则,即差异是否与同一 differences are taken into account if they relate to the 税务机关及同一应课税实体有关, same taxation authority and the same taxable entity, and 并是否预期在能使用税项亏损或税 are expected to reverse in a period, or periods, in which 项抵免之同一期间内转回。 the tax loss or credit can be utilised. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 201 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.19 Income taxes (Continued) 4.19 所得税(续) The limited exceptions to recognition of deferred tax 以下情况产生之暂时差异将不被确 assets and liabilities are those temporary differences 认为递延税项资产和负债:不可在 arising from goodwill not deductible for tax purposes, the 税务方面获得扣减之商誉;不影响 initial recognition of assets or liabilities that affect neither 会计或应课税利润之资产或负债之 accounting nor taxable profit (provided they are not part 初始确认(前提是不属业务合并之 of a business combination), and temporary differences 一部分);以及投资附属公司(如属 relating to investments in subsidiaries to the extent that, 应课税差异,只限于本集团可以控 in the case of taxable differences, the Group controls 制转回之时间,而且在可预见将来 the timing of the reversal and it is probable that the 不大可能转回之暂时差异;或如属 differences will not reverse in the foreseeable future, or in 可抵扣差异,则只限于很可能在将 the case of deductible differences, unless it is probable 来转回之差异)。 that they will reverse in the future. The amount of deferred tax recognised is measured 递延税项之金额是按照资产和负债 based on the expected manner of realisation or 账面值之预期实现或清偿方式,根 settlement of the carrying amount of the assets and 据已执行或在报告期末实质上已执 liabilities, using tax rates enacted or substantively 行之税率计算。递延税项资产和负 enacted at the end of the reporting period. Deferred tax 债均不贴现计算。 assets and liabilities are not discounted. The carrying amount of a deferred tax asset is reviewed 本集团会在每个报告期末评估递延 at the end of each reporting period and is reduced to the 税项资产之账面值。倘预期不再可 extent that it is no longer probable that sufficient taxable 能获得足够之应课税溢利以利用相 profits will be available to allow the related tax benefit to 关之税项利益,则该递延税项资产 be utilised. Any such reduction is reversed to the extent 之账面值会调低。倘日后又可能获 that it becomes probable that sufficient taxable profits 得足够之应课税溢利,则有关减额 will be available. 会转回。 Additional income taxes that arise from the distribution 因股息分派而引致之额外所得税会 of dividends are recognised when the liability to pay the 于有关股息被确认为负债时确认。 related dividends is recognised. 202 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.19 Income taxes (Continued) 4.19 所得税(续) Current tax balances and deferred tax balances, and 本期及递延税项结余和其变动会分 movements therein, are presented separately from 开列示,并且不予抵销。本期及递 each other and are not offset. Current tax assets are 延税项资产会在本集团有法定行使 offset against current tax liabilities, and deferred tax 权以本期税项资产抵销本期税项负 assets against deferred tax liabilities, if the Group has 债,并且符合以下附带条件之情况 the legally enforceable right to set off current tax assets 下,才可以分别抵销本期及递延税 against current tax liabilities and the following additional 项负债: conditions are met: – in the case of current tax assets and liabilities, - 本期税项资产和负 债:本集 the Group intends either to settle on a net basis, 团计划按净额基准结算, 或 or to realise the asset and settle the liability 同时变现该资产和清偿该负 simultaneously; or 债;或 – in the case of deferred tax assets and liabilities, - 递延税项资产和负 债:这些 if they relate to income taxes levied by the same 资产和负债必须与同一税务 taxation authority on either: 机关就以下其中一项征收之 所得税有关: – the same taxable entity; or - 同一应课税实体;或 – different taxable entities, which, in each future - 不同之应课税实体,而 period in which significant amounts of deferred tax 这些实体计划在预期有 liabilities or assets are expected to be settled or 大额递延税项负债需 recovered, intend to realise the current tax assets 要清偿或递延税项资产 and settle the current tax liabilities on a net basis or 可以收回之每个未来期 realise and settle simultaneously. 间,按净额基准实现本 期税项资产和清偿本期 税项负债,或同时变现 该资产和清偿该负债。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 203 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.20 Segment reporting 4.20 分部报告 The Group identifies operating segments and prepares 本集团根据向执行董事呈报以供彼 segment information based on the regular internal 等就分配资源至本集团业务部分及 financial information reported to the executive directors 检讨该等部分表现作出决定之定期 for their decisions about resources allocation to the 内部财务资料识别营运分部及编制 Group’s business components and for their review of 分部资料。向执行董事呈报之内部 the performance of those components. The business 财务资料内之业务部分乃按本集团 components in the internal financial information reported 主要产品及服务线厘定。 to the executive directors are determined following the Group’s major product and service lines. 4.21 Related parties 4.21 关联方 For the purposes of these financial statements, a party is 就本财务报表而言,倘属以下人 considered to be related to the Group if: 士,该人士即被视为与本集团有关 连: (i) A person or a close member of that person’s family (i) 倘属以下人士,即该人士或 is related to the Group if that person: 与该人士关系密切之家庭成 员与本集团有关连: (a) has control or joint control over the Group; (a) 控制或共同控制本集 团; (b) has significant influence over the Group; or (b) 对本集团有重大影响 力;或 (c) is a member of key management personnel of (c) 为本集团或本集团母公 the Group or the Group’s parent. 司之主要管理人员。 204 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.21 Related parties (Continued) 4.21 关联方(续) (ii) An entity is related to the Group if any of the (ii) 倘符合下列任何条 件,即该 following conditions applies: 实体与本集团有关连: (a) The entity and the Group are members of the (a) 该实体与本集团属同一 same group (which means that each parent, 集团之成员(即各母公 subsidiary and fellow subsidiary is related to 司、附属公司及同系附 the others). 属公司彼此间有关连)。 (b) One entity is an associate or joint venture (b) 一实体为另一实体之联 of the other entity (or an associate or joint 营公司或合营公司(或 venture of a member of a group of which the 另一实体为成员公司之 other entity is a member). 集团旗下成员公司之联 营公司或合营公司)。 (c) Both entities are joint ventures of the same (c) 两家实体均为同一第三 third party. 方之合营公司。 (d) One entity is a joint venture of a third entity (d) 一实体为一第三方实体 and the other entity is an associate of the third 之合营公司,而另一实 entity. 体为该第三方实体之联 营公司。 (e) The entity is a post-employment benefit plan (e) 该实体为本集团或本集 for the benefit of the employees of the Group 团相关实体之雇员离职 or an entity related to the Group. 后福利计划。 (f) The entity is controlled or jointly controlled by (f) 该实体受(i)项所述人士 a person identified in (i). 控制或共同控制。 (g) A person identifies in (i)(a) has significant (g) 于(i)(a)项所述人士对实 influence over the entity or is a member of key 体有重大影响力或属该 management personnel of the entity (or of a 实体(或该实体之母公 parent of the entity). 司)之主要管理人员。 (h) The entity, or any member of a group of (h) 该实体(或该实体所属 which it is a part, provides key management 集团之任何成员)向 本 personnel services to the Group or to the 集团或本集团之母公司 parent of the Group. 提供主要管理人员服 务。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 205 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 4. SUMMARY OF SIGNIFICANT 4. 主要会计政策概要(续) ACCOUNTING POLICIES (Continued) 4.21 Related parties (Continued) 4.21 关联方(续) Close members of the family of a person are those family 与任何人士关系密切之家庭成员乃 members who may be expected to influence, or be 指预期可能影响该人士与实体之交 influenced by, that person in their dealings with the entity 易或受其影响之亲属,并包括: and include: (a) that person’s children and spouse or domestic (a) 该人士之子女及配偶或同居 partner; 伴侣; (b) children of that person’s spouse or domestic (b) 该人士之配偶或同居伴侣之 partner; and 子女;及 (c) dependents of that person or that person’s spouse (c) 该人士或其配偶或同居伴侣 or domestic partner. 之受养人。 206 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 5. CRITICAL ACCOUNTING ESTIMATES AND 5. 关键会计估计及判断 JUDGEMENTS Estimates and judgements are continually evaluated and are 估计及判断乃根据过往经验及其他因素 based on historical experience and other factors, including (包括就当时情况而言相信属合理之未来 expectations of future events that are believed to be 事件预测)进行持续评估。 reasonable under the circumstances. The Group makes estimates and assumptions concerning the 本集团对未来作出估计及假设,所得出 future. The resulting accounting estimates will, by definition, 之会计估计如其定义很少与有关实际结 seldom equal the related actual results. The estimates and 果相同。很有可能导致于下个财政年度 assumptions that have a significant risk of causing a material 内对资产及负债之账面金额作出重大调 adjustment to the carrying amounts of assets and liabilities 整之估计及假设阐述如下: within the next financial year are discussed below: (a) Impairment of goodwill (a) 商誉减值 Determining whether goodwill is impaired requires an 厘定商誉是否减值须评估商誉获分 estimation of the value in use of the CGUs to which 配现金产生单位的使用价值。计算 goodwill has been allocated. The value in use calculation 使用价值要求董事估计现金产生单 requires the directors to estimate the future cash flows 位的预期未来现金流量及计算现值 expected to arise from the CGUs and a suitable discount 的适当折现率。 rate in order to calculate the present value. (b) Impairment of other non-financial assets (b) 其他非金融资产之减值 The Group assesses at the end of each reporting 本集团于各报告期末评估具有特定 period whether there is any indication that other non- 年期之其他非金融资产有否出现任 financial assets with definite lives may be impaired. If 何减值迹象。倘存在任何该等迹 any such indication exists, the Group estimates the 象,本集团会估计资产之可收回金 recoverable amount of the assets. In assessing whether 额。评估其他非金融资产有否出现 there is any indication that other non-financial assets 减值迹象时,本集团考虑来自内部 may be impaired, the Group considers indications from 及外部资料来源之迹象,例如资产 both internal and external sources of information such 废弃或经济效益下滑之证据以及巿 as evidence of obsolescence or decline in economic 场情况、经济环境及客户喜好之转 performance of the assets, changes in market conditions, 变。该等评估属主观性质,须管理 economic environment and customers’ tastes. These 层作出判断及估计。 assessments are subjective and require management’s judgements and estimations. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 207 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 5. CRITICAL ACCOUNTING ESTIMATES AND 5. 关键会计估计及判断(续) JUDGEMENTS (Continued) (c) Impairment of trade and other receivables (c) 应收贸易款项及其他应收款项减值 The loss allowances for trade and other receivables 应收贸易款项及其他应收款项之亏 are based on assumptions about risk of default and 损拨备乃根据对违约风险及预期信 ECLs rates. The Group uses judgement in making these 贷亏损损失率之假设作出。本集团 assumptions and selecting the inputs to the impairment 于作出该等假设及选定计算减值之 calculation, based on the Group’s past history, existing 输入数据时,会根据各报告期末本 market conditions as well as forward-looking estimates at 集团之过往记录、现有市场状况, the end of each reporting period. 以及前瞻性估计作出判断。 (d) Provision for inventories (d) 存货拨备 The management reviews the inventories at the end 管理层于各报告期末审阅存货,并 of each reporting period, and makes allowance for 对过时、滞销及已减值项目进行减 impairment of obsolete, slow-moving and impaired items. 值准备。管理层主要根据预期未来 The management estimates the net realisable value 市况及估计售价估计此等存货之可 for such inventories based primarily on the expected 变现净值。本集团对可变现净值低 future market conditions and the estimated selling price. 于账面金额之项目作出减值准备。 The Group makes allowance for impairment if the net realisable value is below the carrying amount. (e) Income taxes (e) 所得税 The Group is subject to income taxes in Hong Kong, 本集团须缴纳香港、中国内地及本 Mainland China and other jurisdictions in which the 集团经营业务之其他司法权区之所 Group operates. Significant management judgement 得税。管理层于诠释相关税务规则 is required in interpreting the relevant tax rules and 及法规以及厘定所得税拨备金额及 regulations and determining the amount of the provision 缴付相关税项之时间时须作出重大 for income taxes and the timing of payment of related 判断。于日常业务过程中,若干交 taxes. There could have transactions and calculations 易及计算方法之最终税项结果并不 for which the ultimate tax determination is uncertain in 明确。本集团会依照对额外税项会 the ordinary course of business. The Group recognises 否到期之估计就预计税务事宜确认 liabilities for anticipated tax issues based on estimates of 负债。倘该等事项之最终税务结果 whether additional taxes will be due. Where the final tax 与初步记录之款额不同,则有关差 outcome of these matters is different from the amounts 额将会影响厘定有关数额期间之所 that were initially recorded, such differences will impact 得税及递延税项拨备。 the income tax and deferred tax provisions in the period in which such determination is made. 208 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 5. CRITICAL ACCOUNTING ESTIMATES AND 5. 关键会计估计及判断(续) JUDGEMENTS (Continued) (f) Valuation of financial assets at FVTPL (f) 按公允值计入损益的金融资产之估 值 Financial assets at FVTPL are revalued with reference 按公允值计入损益之金融资产乃参 to the valuation performed by independent professional 考独立专业合资格估值师于各报告 qualified valuers at the end of each reporting period. 期末作出之估值予以重估。该等估 Such valuations are based on certain assumptions, which 值乃根据若干存在不确定因素之假 are subject to uncertainty and might materially differ 设进行,或会与实际结果出现重大 from the actual results. Any increase or decrease in the 差别。估值之任何增减将影响本集 valuations would affect the Group’s profit or loss in future 团未来年度之损益。 years. (g) Amortisation on other intangible assets (g) 其他无形资产摊销 Other intangible assets are amortised on a straight- 其他无形资产以直线法按预计可使 line method over the estimated useful lives. The Group 用年期摊销。本集团每年均审阅该 reviews annually the useful life of these assets and 等资产之可使用年期及其剩余价值 their residual values, if any. The amortisation expenses (如有)。如跟以往估计出现重大变 for future periods are adjusted if there are significant 动,未来期间之摊销开支会因此作 changes from previous estimation. 出调整。 (h) Contingent considerations of acquisitions (h) 收购项目之或然代价 The Group has business combinations involving 本集团的业务合并项目中包含按收 post-acquisition performance-based contingent 购后业绩为基础之或然代价,并于 considerations. The Group recognises the fair value of 有关收购日及报告期末确认该收购 those contingent considerations for acquisitions at the 项目的或然代价之公允值。该等公 respective acquisition dates and at end of reporting 允值计量需估计被收购业务之收购 period. These fair value measurements require estimation 后业绩及判断该金额的时间值。于 of post-acquisition performance of the acquired business 收购日后才发生的事件或因素所产 and judgement on time value of money. Remeasurements 生的或然代价之公允值重算将影响 of contingent considerations at their fair values resulting 本集团未来年度之损益。 from events or factors emerging after the acquisition date would affect the Group’s profit or loss in future years. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 209 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 6. SEGMENT INFORMATION 6. 分部资料 Operating segments are reported in a manner consistent 营运分部按照与向本公司执行董事(负责 with internal reporting provided to executive directors of the 分配资源及评估营运分部之表现)提供之 Company who are responsible for allocating resources and 内部报告贯彻一致之方式报告。 assessing performance of the operating segments. The executive directors have identified the following reportable 执行董事已识别出以下可报告营运分 operating segments: 部: (i) Auto dealership – this segment includes distribution of (i) 汽车分销-此分部包括代理宾利、 branded automobiles, namely Bentley, Lamborghini and 兰博基尼及劳斯莱斯名车及提供相 Rolls-Royce and provision of related after-sales services; 关售后服务; (ii) Non-auto dealership – this segment includes distribution (ii) 非 汽 车 分 销 - 该 分 部 包 括 代 of branded watches, namely Richard Mille, DeWitt, 理 Richard Mille、DeWitt、 Parmigiani, DeLaCour and Buben & Zorweg, distribution Parmigiani、DeLaCour及Buben & of branded jewelleries, namely Boucheron and Royal Zorweg名牌手表,代理Boucheron Asscher, distribution of certain brands of fine wines, 及Royal Asscher名牌珠宝,代理若 audio equipment, menswear apparels and accessories, 干品牌之名酒、音响设备、男装及 and cigars and smoker’s accessories. 配饰以及雪茄及烟草配件。 (iii) Others – this segment includes provision of property (iii) 其他-此分部包括提供物业管理服 management services, catering services and property 务、餐饮服务及物业租赁服务;以 rental services; and film investments. 及电影投资。 Each of these operating segments is managed separately 由于各产品及服务线所须之资源及营销 as each of the product and service lines requires different 方针有别,故各个营运分部乃分开管 resources as well as marketing approaches. Inter-segment 理。分部间交易(如有)乃参考就类似交 transactions, if any, are priced with reference to prices 易收取外部人士之价格而定价。 charged to external parties for similar transaction. 210 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 6. SEGMENT INFORMATION (Continued) 6. 分部资料(续) 2019 二零一九年 Auto Non-auto dealership dealership Others Total 汽车分销 非汽车分销 其他 合计 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 Revenue from external customers 来自外部客户之收益 3,307,716 320,315 96,814 3,724,845 Other income and net gains 其他收入及收益净额 44,683 17,993 3,379 66,055 Reportable segment revenue 可报告分部收益 3,352,399 338,308 100,193 3,790,900 Reportable segment results 可报告分部业绩 231,500 (37,485) 50,465 244,480 Amortisation of other intangible 其他无形资产摊销 assets – (79) (26,648) (26,727) Amortisation of prepaid lease 预付租赁款项摊销 payments (7,539) – – (7,539) Operating lease payments in respect 租赁楼宇之经营租赁款项 of rented premises (40,215) (15,028) (31,679) (86,922) Depreciation of property, plant and 物业、机器及设备折旧 equipment (13,385) (3,219) (1,352) (17,956) Write-down of inventories 存货撇减 – (8,356) – (8,356) Reversal of write-down of 拨回存货撇减 inventories – 7,947 – 7,947 Reportable segment assets 可报告分部资产 1,679,272 610,730 919,831 3,209,833 Financial assets 按公允值计入其他全面收入之 at FVTOCI 金融资产 426,187 Deposits, prepayments and other 按金、预缴款项及其他 receivables 应收款项 28,066 Cash at banks and in hand 银行及手头现金 22,454 Other corporate assets: 其他公司资产: – financial assets -金融资产 42,529 – non-financial assets -非金融资产 204,582 Consolidated total assets 综合总资产 3,933,651 Additions to non-current segment 年内添置非流动分部资产 assets during the year 554,133 1,467 613,429 1,169,029 Unallocated 未分配 175,828 1,344,857 Reportable segment liabilities 可报告分部负债 301,173 80,156 190,999 572,328 Borrowings 借贷 873,881 Other corporate liabilities: 其他公司负债: – financial liabilities -金融负债 10,175 – non-financial liabilities -非金融负债 104,073 Consolidated total liabilities 综合总负债 1,560,457 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 211 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 6. SEGMENT INFORMATION (Continued) 6. 分部资料(续) 2018 二零一八年 Auto Non-auto dealership dealership Others Total 汽车分销 非汽车分销 其他 合计 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 Revenue from external customers 来自外部客户之收益 2,569,576 323,476 – 2,893,052 Other income and net gains 其他收入及收益净额 58,330 5,762 – 64,092 Reportable segment revenue 可报告分部收益 2,627,906 329,238 – 2,957,144 Reportable segment results 可报告分部业绩 160,225 (24,415) – 135,810 Amortisation of other intangible 其他无形资产摊销 asset – (79) – (79) Depreciation of property, plant and 物业、机器及设备折旧 equipment (18,192) (2,561) – (20,753) Write-down of inventories 存货撇减 – (6,238) – (6,238) Operating lease payments in respect 租赁楼宇之经营租赁款项 of rented premises (42,788) (41,850) – (84,638) Reportable segment assets 可报告分部资产 1,244,383 589,569 – 1,833,952 Available-for-sale investment 可供出售投资 1,291,321 Investment in debt securities 投资债务证券 440,000 Loan receivables 应收贷款 127,376 Deposits, prepayments and other 按金、预缴款项及其他 receivables 应收款项 198,011 Cash at banks and in hand 银行及手头现金 7,421 Other corporate assets: 其他公司资产: – financial assets -金融资产 4,172 – non-financial assets -非金融资产 4,780 Consolidated total assets 综合总资产 3,907,033 Additions to non-current segment 年内添置非流动分部 assets during the year 资产 13,976 2,067 – 16,043 Unallocated 未分配 1,846 17,889 Reportable segment liabilities 可报告分部负债 263,667 42,587 – 306,254 Borrowings 借贷 567,652 Other corporate liabilities: 其他公司负债: – financial liabilities -金融负债 3,812 – non-financial liabilities -非金融负债 6,135 Consolidated total liabilities 综合总负债 883,853 212 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 6. SEGMENT INFORMATION (Continued) 6. 分部资料(续) A reconciliation between the reportable segment results and 可报告分部业绩与本集团之除所得税前 the Group’s profit before income tax is a as follows: 溢利对账如下: Year ended Year ended 31 March 2019 31 March 2018 截至二零一九年 截至二零一八年 三月三十一日止年度 三月三十一日止年度 HK$’000 HK$’000 千港元 千港元 Reportable segment results 可报告分部业绩 244,480 135,810 Bank interest income 银行利息收入 1,299 1,216 Income from investments, debt 投资、债务证券及应收贷款之 securities and loan receivables 收入 9,588 13,835 Unallocated corporate income 未分配公司收入 13,692 4,433 Unallocated corporate expenses 未分配公司开支 (146,008) (41,919) Share of loss of an associate 分占一间联营公司之亏损 – (12,779) Gain on deemed disposal of 视作出售于一间联营公司之 investment in an associate 投资收益 – 585,588 Finance costs 融资成本 (40,956) (16,234) Profit before income tax 除所得税前溢利 82,095 669,950 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 213 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 6. SEGMENT INFORMATION (Continued) 6. 分部资料(续) Major customer 主要客户 During the reporting period, there is no customer with 于报告期内,概无与客户之交易超过本 transactions exceeded 10% of the Group’s revenue. 集团收益之10%。 The following table sets out information about the geographical 下表载列有关(i)本集团来自外部客户的 location of (i) the Group’s revenue from external customers 收益;及(ii)本集团非流动资产(金融工具 and (ii) the Group’s non-current assets other than financial 除外)(「指定非流动资产」)地理位置的资 instruments (“specified non-current assets”). The 料。客户的地理位置乃基于货物交付或 geographical location of customers is based on the location at 提供服务的地点。商誉、其他无形资产 which the goods were delivered or the services were provided. 及于一间联营公司之投资的地理位置乃 The geographical location of goodwill, other intangible assets 基于实体的经营地区,而其他非流动资 and investment in an associate is based on the entities’ area 产的经营地点乃基于资产的实际地点。 of operation while that of other non-current assets is based on 管理层厘定本集团位于中国内地及香港 the physical location of the assets. Management determines (其均为本集团的主要经营地点)。 that the Group is domiciled in Mainland China and Hong Kong, which are the Group’s principal operating locations. The geographical analysis of revenue from external customers 来自外部客户的收益及指定非流动资产 and specified non-current assets are as follows: 的地域分析如下: Revenue from external Specified non-current customers assets 来自外部客户的收益 指定非流动资产 2019 2018 2019 2018 二零一九年 二零一八年 二零一九年 二零一八年 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 Mainland China and Hong Kong 中国内地及香港 3,717,389 2,823,731 1,591,363 298,698 Malaysia 马来西亚 7,456 69,321 314 393 3,724,845 2,893,052 1,591,677 299,091 214 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 7. REVENUE 7. 收益 The Group’s principal activities are sale of automobiles and 本集团之主要业务为汽车及其他商品销 other merchandised goods and provision of automobile 售以及提供汽车相关售后服务。其他业 related after-sales services. Other businesses mainly represent 务主要包括提供物业管理服务、餐饮服 income from provision of property management services, 务及物业租赁服务之收入。 catering services and property rental services. Disaggregation of revenue from contracts with customers by 来自客户合约之收益按主要产品或服务 major product or service lines is as follows: 线划分之明细如下: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Revenue from contracts with 来自客户合约之收益(香港财务 customers within the scope of 报告准则第15 号范畴内): HKFRS 15: Recognised at point in time 于时间点确认 Sales of automobiles 汽车销售 3,193,687 2,469,539 Sales of other merchandised goods 其他商品销售 320,315 323,476 Recognised over time 随时间确认 Provision of after-sales services 提供售后服务 114,029 100,037 Provision of property management 提供物业管理服务 services 18,652 – Provision of catering services 提供餐饮服务 14,832 – Revenue recognised according to 根据其他会计准则确认收益: other accounting standards: 3,661,515 2,893,052 Provision of property rental services 提供物业租赁服务 63,330 – Total 总计 3,724,845 2,893,052 Details of recognition of amount of revenue from the contract 确认合约负债收益金额之详情载于附注 liabilities are set out in Note 30. 30。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 215 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 8. OTHER INCOME AND NET GAINS 8. 其他收入及收益净额 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Bank interest income 银行利息收入 1,299 1,216 Income from investments, debt 投资、债务证券及应收贷款 securities and loan receivables 之收入 9,588 13,835 Bonus from suppliers 供应商给予之补贴 – 10,045 Gain on disposals of property, plant 出售物业、机器及设备之收益 and equipment 2,054 2,128 Income from advertising, exhibitions 广告、展览及其他服务收入 and other services 33,721 7,820 Income from insurance brokerage 保险经纪收入 40,164 44,893 Management fee income 管理费收入 218 1,135 Administrative fee income 行政费收入 – 618 Others 其他 3,590 1,886 90,634 83,576 216 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 9. OPERATING PROFIT 9. 经营溢利 This is arrived at after charging/(crediting): 经营溢利经扣除╱(计入)以下项目: 2019 2018 二零一九年 二零一八年 Notes HK$’000 HK$’000 附注 千港元 千港元 Amortisation of other intangible 其他无形资产摊销 assets 19 26,727 79 Amortisation of prepaid lease 预付租赁款项摊销 payments 17 9,975 – Auditors’ remuneration 核数师酬金 – Audit services -审计服务 1,500 1,300 – Non-audit services -非审计服务 997 510 Cost of inventories recognised 确认为开支之存货成本, as expense, including 包括 3,136,494 2,287,412 – Write-down of inventories -存货撇减 8,356 6,238 – Reversal of write-down of -拨回存货撇减 inventories (7,947) – Depreciation of property, plant 物业、机器及设备之折旧 and equipment 16 26,891 21,995 Exchange differences, net 汇兑净差额 1,009 904 Operating lease payments in 租赁楼宇之 respect of rented premises* 经营租赁款项* 95,832 98,025 Employee benefit expenses 雇员福利开支 13 65,310 44,426 Provision for litigation and 诉讼及索偿拨备 claims 45 – 12,976 * Operating lease payments in respect of rented premises * 有关租赁物业之经营租赁款项已分别于 have been recognised in the amounts of approximately 销售成本、销售及代理成本及行政费用 HK$23,107,000, HK$63,821,000 and HK$8,904,000 (2018: 确 认 约23,107,000港 元、63,821,000 HK$Nil, HK$82,516,000 and HK$15,509,000) in cost of sales, 港元及8,904,000 港元(二零一八年:零 selling and distribution costs and administrative expenses 港 元、82,516,000港 元 及15,509,000 respectively. 港元)。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 217 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 10. FINANCE COSTS 10. 融资成本 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Interest on bank borrowings 银行借贷利息 25,182 14,187 Interest on other loans 其他贷款利息 15,774 2,047 40,956 16,234 11. INCOME TAX 11. 所得税 Hong Kong Profits Tax has been provided at the rate of 16.5% 香港利得税乃根据本年度之估计应课 (2018: 16.5%) on the estimated assessable profit for the year. 税 溢 利 按 税 率16.5%( 二 零 一 八 年: 16.5%)计提拨备。 The Group’s subsidiaries in Mainland China are subject to 本集团之中国内地附属公司须按税率 income tax at the rate of 25% except that a subsidiary is 25%缴纳所得税,惟一间附属公司有权 entitled to tax exemption for the years ended 31 March 2018 获豁免缴纳截至二零一八年及二零一九 and 2019. 年三月三十一日止年度之税项。 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Current tax 本期间税项 – Hong Kong profits tax -香港利得税 Charge for the year 年内支出 77 1,146 – Income tax of other jurisdictions -其他司法权区所得税 Charge for the year 年内支出 1,629 1,046 Under-provision in prior years 过往年度拨备不足 – 794 Total current tax 本期间税项总额 1,706 2,986 Deferred tax 递延税项 (6,700) (152) (4,994) 2,834 218 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 11. INCOME TAX (Continued) 11. 所得税(续) Reconciliation between income tax and accounting profit at 按适用税率计算所得税与会计溢利之对 applicable tax rates: 账: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Profit before income tax 除所得税前溢利 82,095 669,950 Tax calculated at domestic tax rates 于各司法权区之溢利或亏损 applicable to profit or loss in the 按适用当地税率计算之税项 respective jurisdictions 14,513 126,256 Effect of tax exemption granted to a 一间附属公司获授税项豁免 subsidiary 之影响 (43,035) (35,273) Tax effect of non-taxable revenue 毋须课税收益之税务影响 (1,212) (96,774) Tax effect of non-deductible 不可抵扣支出之税务影响 expenses 19,544 5,254 Tax effect of unused tax losses not 未确认之未动用税项亏损 recognised 之税务影响 5,235 3,861 Tax effect of temporary differences 未确认之暂时差异 not recognised 之税务影响 – 213 Tax effect of utilisation of tax losses 动用过往未确认之税项亏损 previously not recognised 之税务影响 (39) (900) Tax effect of utilisation of deductible 动用过往未确认 temporary differences previously 之可抵扣暂时差异 not recognised 之税务影响 – (597) Under-provision in prior years 过往年度拨备不足 – 794 (4,994) 2,834 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 219 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 12. DIRECTORS’ EMOLUMENTS 12. 董事酬金 Year ended 31 March 2019 截至二零一九年三月三十一日止年度 Retirement benefit Directors’ Salaries and Discretionary scheme fees allowances bonuses contribution Total 退休福利 董事袍金 薪金及津贴 酌情花红 计划供款 合计 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 Executive Directors: 执行董事: Zheng Hao Jiang (Chairman and 郑浩江(主席兼行政总裁) Chief Executive Officer) 1,980 60 – 45 2,085 Zhao Xiaodong (Deputy 赵小东(副主席兼运营 Chairman and Chief Operating 总裁,于二零一八年 Officer, appointed with effect 九月三日获委任) from 3 September 2018) 944 35 – 24 1,003 Zhu Lei 朱雷 840 – – – 840 Cheung Man Kit (retired with 张文杰(于二零一八年 effect from 31 August 2018) 八月三十一日退任) 350 – – 8 358 Non-executive Directors: 非执行董事: Gao Yu 高煜 240 – – – 240 Qi Jian Wei 綦建伟 240 – – – 240 Tang Sung Wai (retired with 邓崇伟(于二零一八年 effect from 31 August 2018) 八月三十一日退任) 100 – – – 100 Independent non-executive 独立非执行董事: Directors: Choy Sze Chung, Jojo 蔡思聪 240 – – – 240 Lam Kwok Cheong 林国昌 240 – – – 240 Lee Thomas Kang Bor 李镜波 240 – – – 240 5,414 95 – 77 5,586 220 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 12. DIRECTORS’ EMOLUMENTS (Continued) 12. 董事酬金(续) Year ended 31 March 2018 截至二零一八年三月三十一日止年度 Retirement benefit Directors’ Salaries and Discretionary scheme fees allowances bonuses contribution Total 退休福利 董事袍金 薪金及津贴 酌情花红 计划供款 合计 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 Executive Directors: 执行董事: Zheng Hao Jiang (Chairman and 郑浩江(主席兼 Chief Executive Officer) 行政总裁) 1,980 15 – 25 2,020 Tong Kai Lap (resigned with 唐启立(于二零一八年 effect from 1 January 2018) 一月一日辞任) 135 1,395 510 14 2,054 Cheung Man Kit (appointed with 张文杰(于二零一七年 effect from 15 December 十二月十五日获委任) 2017) 248 – – 6 254 Zhu Lei 朱雷 840 – – – 840 Non-executive Directors: 非执行董事: Zhang Si Jian (resigned with 张思坚(于二零一七年 effect from 15 December 十二月十五日辞任) 2017) 169 – – – 169 Gao Yu 高煜 240 – – – 240 Qi Jian Wei 綦建伟 240 – – – 240 Tang Sung Wai (appointed with 邓崇伟(于二零一八年 effect from 1 January 2018) 一月一日获委任) 60 – – – 60 Independent non-executive 独立非执行董事: Directors: Choy Sze Chung, Jojo 蔡思聪 240 – – – 240 Lam Kwok Cheong 林国昌 240 – – – 240 Lee Thomas Kang Bor 李镜波 240 – – – 240 4,632 1,410 510 45 6,597 During the years ended 31 March 2018 and 2019, no 于截至二零一八年及二零一九年三月 emoluments were paid by the Group to any directors as 三十一日止年度内,本集团并无向任何 an inducement to join or upon joining the Group or as 董事支付酬金以作为加入本集团或于加 compensation for loss of office. There was no arrangement 入本集团时之奖励或作为离职之补偿。 under which a director has waived or agreed to waive any 概无董事根据任何安排放弃或同意放弃 emoluments. 任何酬金。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 221 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 13. EMPLOYEE BENEFIT EXPENSES 13. 雇员福利开支 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Employee costs, including directors’ 雇员成本,包括董事酬金 emoluments 53,573 34,410 Contributions to retirement benefits 退休福利计划供款 scheme 11,737 10,016 Total employee costs 雇员成本总额 65,310 44,426 (a) Five highest paid individuals (a) 五位最高薪人士 Of the five individuals with the highest emoluments in the 在本集团五位最高薪人士中,其中 三位(二零一八年:三位)为本公 Group, three (2018: three) were directors of the Company 司董事,彼等之酬金已于上文附注 whose emoluments are disclosed in Note 12 above. The 12披露。年内应付其余两位(二零 emoluments payable to the remaining two (2018: two) 一八年:两位)人士之酬金如下: individuals during the year were as follows: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Salaries and other benefits 薪金及其他福利 1,767 2,076 Retirement benefit scheme 退休福利计划供款 contributions 36 72 1,803 2,148 The emoluments payable to the non-director highest paid 应付予非董事最高薪人士之酬金介 individuals fell within the following bands: 乎下列组别: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Nil to HK$1,000,000 零至1,000,000港元 1 – HK$1,000,001 to HK$1,500,000 1,000,001港元至 1,500,000港元 1 2 2 2 222 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 14. DIVIDEND 14. 股息 No dividend was paid, declared or proposed by the Company 本公司并无就截至二零一八年及二零 in respect of the years ended 31 March 2018 and 2019. 一九年三月三十一日止年度派付、宣派 或建议任何股息。 15. EARNINGS PER SHARE 15. 每股盈利 Basic earnings per share is calculated by dividing the profit 每股基本盈利乃透过将截至二零一九年 attributable to owners of the Company of approximately 三月三十一日止年度本公司拥有人应占 HK$97,429,000 (2018: approximately HK$664,565,000) by 溢利约97,429,000港元(二零一八年: the weighted average of 4,839,037,294 (2018: 4,445,894,981) 约664,565,000港元)除以已发行普通股 ordinary shares in issue during the year ended 31 March 2019. 加权平均数4,839,037,294股(二零一八 年:4,445,894,981股)计算。 Diluted earnings per share are the same as basic earnings per 由于年内并无潜在摊薄普通股,故每股 share as there were no dilutive potential ordinary shares in 摊薄盈利与每股基本盈利相同。 existence during the years. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 223 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 16. PROPERTY, PLANT AND EQUIPMENT 16. 物业、机器及设备 Furniture, fixtures and Motor Buildings equipment vehicles Total 家私、装置及 楼宇 设备 汽车 合计 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 At 1 April 2017 于二零一七年四月一日 Cost 成本 – 249,315 30,527 279,842 Accumulated depreciation and 累计折旧及减值 impairment – (173,404) (15,083) (188,487) Net carrying amount 账面净额 – 75,911 15,444 91,355 Year ended 31 March 2018 截至二零一八年 三月三十一日止年度 Opening net carrying amount 年初账面净额 – 75,911 15,444 91,355 Exchange differences 汇兑差额 – 8,595 1,453 10,048 Additions 添置 – 11,432 6,457 17,889 Disposals 出售 – (1,921) (2,849) (4,770) Depreciation 折旧 – (18,349) (3,646) (21,995) Closing net carrying amount 年终账面净额 – 75,668 16,859 92,527 At 31 March 2018 and 1 April 于二零一八年三月三十一日 2018 及二零一八年四月一日 Cost 成本 – 229,697 31,102 260,799 Accumulated depreciation and 累计折旧及减值 impairment – (154,029) (14,243) (168,272) Net carrying amount 账面净额 – 75,668 16,859 92,527 224 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 16. PROPERTY, PLANT AND EQUIPMENT 16. 物业、机器及设备(续) (Continued) Furniture, fixtures and Motor Buildings equipment vehicles Total 家私、装置及 楼宇 设备 汽车 合计 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 Year ended 31 March 2019 截至二零一九年 三月三十一日止年度 Opening net carrying amount 年初账面净额 – 75,668 16,859 92,527 Exchange differences 汇兑差额 3,249 16,345 (820) 18,774 Additions 添置 130,657 24,542 238 155,437 Business combination 业务合并 – 8,920 – 8,920 Disposals 出售 – – (6,494) (6,494) Depreciation 折旧 (2,193) (22,765) (1,933) (26,891) 131,713 102,710 7,850 242,273 At 31 March 2019 于二零一九年三月三十一日 Cost 成本 133,962 271,074 19,753 424,789 Accumulated depreciation and 累计折旧及减值 impairment (2,249) (168,364) (11,903) (182,516) 131,713 102,710 7,850 242,273 As at 31 March 2019, the Group’s buildings were pledged as 于二零一九年三月三十一日,本集团楼 securities for the Group’s borrowing facilities (2018: HK$Nil) 宇作为本集团之借贷融资之担保而予以 (Note 32). 抵押(二零一八年:零港元)(附注32)。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 225 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 17. PREPAID LEASE PAYMENTS 17. 预付租赁款项 The Group’s interests in land use rights represent prepaid 本集团于土地使用权之权益指根据中期 operating lease payments in the People’s Republic of China 租赁于中华人民共和国(「中国」)之预付 (the “PRC”) under medium-lease and the movements in their 经营租赁款项,及于账面净额之变动分 net book value are analysed as follows: 析如下: 2019 二零一九年 HK$’000 千港元 Opening net book value 年初账面净额 – Addition 添置 575,915 Amortisation 摊销 (9,975) Exchange alignments 汇兑调整 16,225 Closing book value 年终之账面值 582,165 Amortisation expense has been charged to “administrative 摊销费用计入综合全面收入报表之「行政 expenses” in the consolidated statement of comprehensive 费用」内。 income. As at 31 March 2019, the land use right were pledged as 于二零一九年三月三十一日,土地使用 securities for the Group’s borrowings (2018: HK$Nil) (Note 权予以抵押作为本集团之借贷之担保(二 32). 零一八年:零港元)(附注32)。 Prepaid lease payments related to land use rights are analysed 与土地使用权有关之预付租赁款项就呈 for reporting purposes as: 报用途而言分析如下: 2019 二零一九年 HK$’000 千港元 Non-current assets 非流动资产 564,982 Current assets 流动资产 17,183 582,165 226 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 18. GOODWILL 18. 商誉 The net carrying amount of goodwill is analysed as follows: 商誉之账面净额分析如下: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 At beginning of year 于年初 580,679 580,679 Business combinations 业务合并 191,374 – At end of year 于年末 772,053 580,679 Accumulated impairment 累计减值 At beginning and end of year 于年初及年末 (374,508) (374,508) Net carrying amount 账面净额 397,545 206,171 The carrying amount of goodwill allocated to each of the CGUs 分配至各现金产生单位之商誉之账面值 is as follows: 如下: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Auto dealership 汽车分销 206,171 206,171 Property management services 物业管理服务 189,087 – Catering services 餐饮服务 2,287 – 397,545 206,171 For the purpose of the goodwill impairment test, the directors 就商誉减值测试而言,董事乃参考管理 determined the recoverable amounts of the CGUs from value- 层及独立专业合资格估值师行(如适用) in-use calculations with reference to the business valuations 以收入法(即获正式批准预算得出之税前 performed by management and an independent firm of 现金流量预 测(涵盖详尽之五年预算计 professionally qualified valuers where applicable using the 划))作出的业务估值按使用价值计算厘 income approach, i.e. pre-tax cash flow projections from 定现金产生单位的可收回金额。 formally approved budgets covering a detailed five-year budget plan. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 227 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 18. GOODWILL (Continued) 18. 商誉(续) The key assumptions for the value-in-use calculations are: 使用价值计算之关键假设如下: 2019 2018 二零一九年 二零一八年 Re: Auto dealership 有关:汽车分销 Growth rate after five-year period 五年期后之增长率 0% 0% Discount rate 贴现率 16% 15% 2019 二零一九年 Re: Property management services 有关:物业管理服务 Growth rate after five-year period 五年期后之增长率 3% Discount rate 贴现率 15% 2019 二零一九年 Re: Catering services 有关:餐饮服务 Growth rate after five-year period 五年期后之增长率 3% Discount rate 贴现率 12% The key assumptions have been determined based on past 关键假设乃根据过往表现,以及经参考 performance and its expectations for the market’s share 已公布市场预测及研究之市场份额预测 after taking into consideration published market forecast and 后厘定。所采用之贴现率乃属税前性 research. The discount rates used are pre-tax and reflect 质,并反映现金产生单位相关之特定风 specific risks relating to the CGUs. 险。 Apart from the considerations described in determining the 除厘定上述现金产生单位之使用价值时 value in use of the CGUs above, the Group’s management is 所述之考虑因素外,本集团管理层现时 not currently aware of any other possible changes that would 并不知悉有任何其他可能变动会导致必 necessitate changes in its key estimates. The recoverable 须对主要估计事项作出变动。现金产生 amount of the CGUs exceeded the respective carrying amount 单位之可收回金额超过该等单位各自之 of those units, and therefore no impairment is required. 账面值,因此,毋须作出减值。 228 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 19. OTHER INTANGIBLE ASSETS 19. 其他无形资产 Lease Trademark contracts Total 商标 租赁合约 合计 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 At 1 April 2017 于二零一七年四月一日 Gross carrying amount 账面总额 33,163 – 33,163 Accumulated amortisation and 累计摊销及减值 impairment (32,691) – (32,691) Net carrying amount 账面净额 472 – 472 Year ended 31 March 2018 截至二零一八年三月三十一日止年度 Opening net carrying amount 年初账面净额 472 – 472 Amortisation 摊销 (79) – (79) Closing net carrying amount 年终账面净额 393 – 393 At 31 March 2018 and 1 April 2018 于二零一八年三月三十一日 及二零一八年四月一日 Gross carrying amount 账面总额 33,163 – 33,163 Accumulated amortisation and 累计摊销及减值 impairment (32,770) – (32,770) Net carrying amount 账面净额 393 – 393 Year ended 31 March 2019 截至二零一九年三月三十一日止年度 Opening net carrying amount 年初账面净额 393 – 393 Business combinations 业务合并 – 413,211 413,211 Amortisation 摊销 (79) (26,648) (26,727) Closing net carrying amount 年终账面净额 314 386,563 386,877 At 31 March 2019 于二零一九年三月三十一日 Gross carrying amount 账面总额 33,163 413,211 446,374 Accumulated amortisation and 累计摊销及减值 impairment (32,849) (26,648) (59,497) Net carrying amount 账面净额 314 386,563 386,877 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 229 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 20. INVESTMENT IN AND ASSOCIATE, 20. 于一间联营公司之投资、可供 AVAILABLE-FOR-SALE INVESTMENT AND 出售投资及金融资产 FINANCIAL ASSETS (a) Investment in an associate (a) 于一间联营公司之投资 Particulars of the associate up to the date of deemed 于截至二零一八年三月三十一日止 disposal during the year ended 31 March 2018 were as 年度截至视作出售日期联营公司之 follows: 详情如下: Percentage of effective Place/country of interest incorporation and Issued and held by the Name kind of legal entity paid-up capital Company Principal activities 注册成立地点╱国家 已发行股本及 本公司所持 名称 及法律实体类别 实收资本 实际权益百分比 主要业务 Bang & Olufsen Denmark, limited Danish Krone 15.09% Design, manufacture, market A/S (“B&O”) liability company 431,974,780 and sale of branded audio and visual consumer electronics products Bang & Olufsen 丹麦,有限责任公司 431,974,780 15.09% 设计、制造、推广及销售品牌影 A/S(「B&O」) 丹麦克朗 音消费电子产品 The Group lost significant influence over B&O during 本集团于截至二零一八年三月三十一日 the year ended 31 March 2018 due to a change of 止年度因情况变化失去对B&O的重大影 circumstances including the resignation on 1 January 响力,包括唐启立先生于二零一八年一 2018 by Mr. Tong Kai Lap as chairman and director of the 月一日辞任本公司主席及董事,导致本 Company and the consequential loss of representation 集团失去于B&O董事会的代表席位,加 by the Group in the board of directors of B&O, together 上本集团没有权力参与B&O的财务及经 with the Group not having the power to participate in the 营决策。因此,根据香港会计准则第28 financial and operating policy decisions of B&O. As the 号于联营公司及合营公司之投资(「香港 result, B&O ceased to be an associate of the Group on 1 会计准则第28号」),自二零一八年一月 January 2018 in accordance with Hong Kong Accounting 一日起,B&O不再为本集团联营公司。 Standard 28 Investments in Associates and Joint 因此,于B&O的投资在失去重大影响 Ventures (“HKAS 28”). Accordingly, the investment in 力当日按公允值确认且该金额被视为可 B&O at the date when significant influence was lost was 供出售投资初步确认时的公允值(附注 recognised at fair value and this amount was regarded 20(b))。 as the fair value on initial recognition of available-for-sale investment (Note 20(b)). 230 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 20. INVESTMENT IN AN ASSOCIATE, 20. 于一间联营公司之投资、可供 AVAILABLE-FOR-SALE INVESTMENT AND 出售投资及金融资产(续) FINANCIAL ASSETS (Continued) (a) Investment in an associate (Continued) (a) 于一间联营公司之投资(续) During the year ended 31 March 2018, the Group’s 经参考B&O计算至二零一七年十一 results included its share of B&O’s results for the nine 月三十日的最近期可得及已刊发财 months ended 30 November 2017 and any significant 务资料,于截至二零一八年三月 events or transactions for the period from 1 December 三十一日止年度,本集团之业绩包 2017 to the date of loss of significant influence with 括其应占B&O截至二零一七年十一 reference to B&O’s most recently available and published 月三十日止九个月之业绩及自二零 financial information (which were drawn up to 30 一七年十二月一日起至失去重大影 November 2017). The Group has taken advantage of the 响力日期止期间发生的任何重大事 provision contained in HKAS 28 whereby it is permitted 件或交易。本集团已采纳香港会计 to include the attributable share of associates’ results 准则第28号所载之条文,据此,其 based on accounts drawn up to a non-coterminous 获准许计入联营公司不同计算日期 period end where the difference must be no greater than (但差距不得超过三个月)之账目为 three months. 基准之应占联营公司之业绩。 Immediately after the loss of significant influence over 紧随失去对B&O的重大影响力后, B&O, it was accounted for as a deemed disposal of 其入账列为视作出售B&O的全部权 the entire interest in B&O, with a resulting gain of 益,导致视作出售于联营公司的投 approximately HK$585,588,000 on deemed disposal of 资收益约585,588,000港元于截至 investment in the associate recognised in profit or loss 二零一八年三月三十一日止年度于 during the year ended 31 March 2018. 损益确认。 The following table illustrates the summarised financial 下表列示联营公司于上年度截至视 information of the associate up to the date of deemed 作出售日期的概述财务资料: disposal during the prior year: 2018 二零一八年 HK$’000 千港元 Revenue 收益 2,871,301 Loss for the period 期内亏损 (84,683) Other comprehensive income 其他全面收入 (34,922) Total comprehensive income 全面收入总额 (119,605) SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 231 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 20. INVESTMENT IN AN ASSOCIATE, 20. 于一间联营公司之投资、可供 AVAILABLE-FOR-SALE INVESTMENT AND 出售投资及金融资产(续) FINANCIAL ASSETS (Continued) (b) Available-for-sale investment/financial assets at (b) 可供出售投资╱按公允值计入其他 FVTOCI 全面收入之金融资产 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Listed equity securities, at fair 上市股本证券,按公允值, value, classified as financial 分类为按公允值计入其他 assets at FVTOCI (2018: 全面收入之金融资产(二零 Available-for-sale investment) 一八年:可供出售投资) 426,187 1,291,321 The balance represented the investment in B&O which 结余指于B&O(于丹麦之上市公司) is a listed entity in Denmark. The fair value was based 之投资。公允值乃基于于二零一八 on quoted market price as at 31 March 2018 and 2019. 年及二零一九年三月三十一日的市 The equity investment was irrevocably designated at fair 场报价。股本投资已不可撤回地指 value through other comprehensive income as the Group 定为按公允值计入其他全面收入计 considers these investments to be strategic in nature. 量,原因为本集团认为有关投资属 策略性性质。 21. BALANCES WITH NON-CONTROLLING 21. 与非控股权益及关联方之结余 INTERESTS AND RELATED PARTIES (a) Balances with non-controlling interests (a) 与非控股权益之结余 The amounts due to non-controlling interests are 应付非控股权益款项为无抵押、免 unsecured, interest-free, and repayable on demand. 息及须按要求偿还。 (b) Rental deposits paid to a related party (b) 已付一名关联方租金按金 The Group entered into several agreements with Mr. 本集团与本公司之主要股东綦先生 Qi, a substantial shareholder of the Company, for 就向本集团租赁若干位于中国内地 leasing of properties as office premises, warehouse and 之物业作办公楼、仓库及展厅订立 showrooms in Mainland China to the Group. The rental 多项协议。已付綦先生之租金按金 deposits paid to Mr. Qi have been recognised as non- 已于二零一九年三月三十一日确认 current assets as at 31 March 2019. 为非流动资产。 232 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 21. BALANCES WITH NON-CONTROLLING 21. 与非控股权益及关联方之结余(续) INTERESTS AND RELATED PARTIES (Continued) (c) Balances with related parties (c) 与关联方之结余 北京耀莱金榜 北京恒宇大业 北京凤博通商 酒业有限公司 投资有限公司 经贸有限公司 Mr. Qi (“BJSRGB”) (“BJHYDY”) (“BJFBTS”) Total 北京恒宇大业 北京凤博通商 北京耀莱金榜 投资有限公司 经贸有限公司 酒业有限公司 (「北京恒宇 (「北京凤博 綦先生 (「金榜酒业」) 大业」) 通商」) 合计 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 (Notes (i)) (Notes (ii)) (Notes (ii)) (附注(i)) (附注(ii)) (附注(ii)) At 31 March 2019 于二零一九年三月 三十一日 6,767 – – – 6,767 At 31 March 2018 于二零一八年 三月三十一日 6,847 – 1,111 618 8,576 Maximum balance outstanding 截至以下日期止年度 during the year ended: 之最高未偿还结余 – 31 March 2019 -二零一九年 三月三十一日 6,847 – 1,111 618 – 31 March 2018 -二零一八年 三月三十一日 20,979 521 1,111 618 Notes: 附注: (i) The amount due from Mr. Qi, resulting from prepaid rental (i) 就向本集团租赁若干位于中国内 expenses for leasing of properties as office premises, 地之物业作办公楼、仓库及展厅 warehouse and showrooms in Mainland China to the Group, 预付之租金开支而应收綦先生之 is unsecured, interest-free and will be utilised through 款项为无抵押、免息及将透过抵 setting off future rental expenses payable to Mr. Qi within 销于一年内应付綦先生之未来租 one year. 金开支方式动用。 (ii) The amounts due from BJHYDY and BJFBTS (both (ii) 应收北京恒宇大业及北京凤博通 companies controlled by Mr. Qi), were unsecured, interest- 商(两家由綦先生控制之公司)之 free and repayable on demand. 款项为无抵押、免息及须按要求 偿还。 (iii) The amounts due to related parties were unsecured, (iii) 应付关联方之款项为无抵押、免 interest-free and repayable on demand. 息及须按要求偿还。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 233 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 22. INVENTORIES 22. 存货 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Raw materials and consumables 原材料及消耗品 39,275 36,959 Merchandised goods 商品 989,497 1,024,448 1,028,772 1,061,407 As at 31 March 2019, merchandised goods of (i) approximately 于二零一九年三月三十一日,(i)为数 HK$407,536,000 (2018: HK$484,121,000) have been pledged 约407,536,000港 元( 二 零 一 八 年: to secure the loan facilities (Note 32) and (ii) approximately 484,121,000港元)之商品已作质押,以 HK$Nil (2018:HK$16,975,000) have been frozen as a reserve 取得贷款融资(附注32)及(ii)为数约零港 under a litigation claim as further detailed in Note 45. 元(二零一八年:16,975,000港元)之商 品已予冻结,作为诉讼索偿之储备(于附 注45详述)。 23. TRADE RECEIVABLES AND DEPOSITS, 23. 应收贸易款项以及按金、预缴 PREPAYMENTS AND OTHER 款项及其他应收款项 RECEIVABLES (a) Trade receivables (a) 应收贸易款项 Trade receivables represent rental receivable from 应收贸易款项指租户应收租金及客 tenants, and sales from customers. The Group’s trading 户销售款。本集团与零售客户之间 terms with its retail customers are mainly receipts in 的交易条款主要为预收货款或货银 advance from customers or cash on delivery, except 两讫,惟若干与信誉良好的客户 for certain transactions with creditworthy customers 之间的交易获得最长3个月之信贷 where the credit period is extendable up to 3 months, 期,而与批发客户之间的交易条款 whereas the trading terms with wholesale customers 则一般为期一至两个月。此外,本 are generally one to two months. In addition, the Group 集团一般就保固期内之售后服务向 generally provides a credit term of two to three months 汽车制造商提供两至三个月之信贷 to automobile manufacturers for the in-warranty after- 期。本集团寻求对其未收回应收贸 sales services. The Group seeks to maintain strict control 易款项实行严格监控,以及制定信 over its outstanding trade receivables and has a credit 贷监控政策以将信贷风险减至最 control policy to minimise credit risk. Overdue balances 低。管理层定期审阅逾期结余。 are reviewed regularly by the management. 234 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 23. TRADE RECEIVABLES AND DEPOSITS, 23. 应收贸易款项以及按金、预缴 PREPAYMENTS AND OTHER 款项及其他应收款项(续) RECEIVABLES (Continued) (a) Trade receivables (Continued) (a) 应收贸易款项(续) An ageing analysis of trade receivables at the end of 基于发票日期之应收贸易款项于报 the reporting period, based on the invoice dates, is as 告期末之账龄分析如下: follows: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 0 – 30 days 0至30日 21,591 5,075 31 – 120 days 31至120日 – 267 21,591 5,342 The ageing analysis of the Group’s trade receivables 本集团未有被视为个别及集体减值 that are not individually nor collectively considered to be 之应收贸易款项之账龄分析如下: impaired is as follows: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Neither past due nor impaired 未逾期亦未减值 21,591 5,342 Trade receivables that were neither past due nor 未逾期亦未减值之应收贸易款项乃 impaired related to certain customers from whom there 源自若干近来并无违约记录之客 was no recent history of default. 户。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 235 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 23. TRADE RECEIVABLES AND DEPOSITS, 23. 应收贸易款项以及按金、预缴 PREPAYMENTS AND OTHER 款项及其他应收款项(续) RECEIVABLES (Continued) (b) Deposits, prepayments and other receivables (b) 按金、预缴款项及其他应收款项 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Deposits 按金 44,266 20,418 Prepayments 预缴款项 46,313 45,025 Other receivables 其他应收款项 130,577 150,841 Value-added tax recoverable 可收回增值税 16,306 53,711 237,462 269,995 24. INVESTMENT IN FILMS 24. 投资电影 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Investment in films, at FVTPL 投资电影,按公允值计入损益 301,832 – The amount represents investment projects with certain 该金额指于若干共同制作电影之制作公 production house for co-production of films. The investments 司之投资项目。该投资受相关协议规 are governed by the relevant agreements whereby the Group is 管,据此,本集团有权取得自该等电影 entitled to benefits generated from the distribution of these films. 发行产生之利益。 Fair value is determined by applying the income approach, 公允值乃使用贴现现金流量法根据电影 using the discounted cash flow method, based on the 的估计发行收入应用收入法厘定。估值 estimated distribution income of the films. The valuation takes 考虑票房收入产生的预期收入及其他衍 account of expected income generated from the box offices 生收入来源。贴现率已就市场流通性及 receipts and other derivative income streams. The discount 现行市况作出调整。 rates have been adjusted for the marketability and current market conditions. Significant unobservable inputs are as follows: 重大不可观察输入数据如下: 2019 二零一九年 Ranging from Average returns 平均回报率 介乎 118% to 188% Discount rates 贴现率 16% 236 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 24. INVESTMENT IN FILMS (Continued) 24. 投资电影(续) The Group acquired the investments through the acquisition 本集团透过收购采高投资有限公司及其 of Cheer Summit Investment Limited and its subsidiaries 附属公司(统称「采高集团」)购入投资。 (collectively the “Cheer Summit Group”). Pursuant to the sale 根据买卖协议,本集团有条件同意购买 and purchase agreement, the Group conditionally agreed 而卖方有条件同意出售采高集团之全部 to purchase and the vendor conditionally agreed to sell the 股权,初始代价为发行340,000,000股 entire equity interests of the Cheer Summit Group at an initial 本公司股份,而倘采高集团之财务表 consideration of issue of 340,000,000 shares of the Company 现自收购日 期(即二零一九年一月十七 and the contingent consideration, in which the Company will 日)起于截至二零二一年十二月三十一 issue the convertible bonds with reference to a formula as 日止三个年度内于任何报告期间达致指 stipulated in the sale and purchase agreement, in the event 定目标,则或然代价为本公司将参考买 that the financial performance of the Cheer Summit Group 卖协议所列明公式发行可换股债券。于 meets the designated targets within the three years ending 收购日期,根据采高集团之预算除税后 31 December 2021 in any reporting period since the date of 溢利、发行可换股债券之可能性及可换 acquisition (i.e. 17 January 2019). As at the date of acquisition, 股债券之公允值,或然代价之公允值被 the fair value of the contingent consideration was assessed 评估为属微乎其微。于二零一九年三月 to be minimal, based on the budgeted profit after tax of the 三十一日,应付之或然代价之公允值维 Cheer Summit Group, probability of issuance of the convertible 持不变。 bonds and fair value of the convertible bonds. The fair value of the contingent consideration payable remained unchanged as at 31 March 2019. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 237 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 25. INVESTMENT IN DEBT SECURITIES 25. 投资债务证券 The Group’s investment in debt securities represented unlisted 本集团的债务证券投资指上海华信集团 senior notes (the “Senior Notes”) issued by Shanghai Huaxin (香港)有限公司(一间于香港注册成立的 Group (Hong Kong) Limited, a company incorporated in Hong 有限公司)发行的非上市优先票据(「优先 Kong with limited liability. Details of the Senior Notes are set 票据」)。有关优先票据的详情载于本公 out in the announcements by the Company on 4 December 司于二零一七年十二月四日及二零一八 2017 and 2 March 2018. 年三月二日刊发的公布。 During the year ended 31 March 2019, the Group disposed of 于截至二零一九年三月三十一日止年 the Senior Notes in the principal amount of HK$440,000,000 度,本集团以总代价447,260,000港元向 to an independent third party at a total consideration of 独立第三方出售本金额为440,000,000港 HK$447,260,000 in which HK$7,260,000 was included in the 元之优先票据,其中7,260,000港元计入 income from debt securities. The direct costs attributable to 债务证券收入。出售优先票据应占直接 the disposal of Senior Notes of approximately HK$5,720,000 成本约5,720,000港元已计入综合全面收 have been charged to other expenses in the consolidated 入报表之其他费用。出售优先票据之详 statement of comprehensive income. Details of the disposal 情载列于本公司日期为二零一八年五月 of the Senior Notes are set out in the announcement of the 三十一日之公布。 Company dated 31 May 2018. 26. LOAN RECEIVABLES 26. 应收贷款 2019 2018 二零一九年 二零一八年 Notes HK$’000 HK$’000 附注 千港元 千港元 Loans to independent third 通过互联网融资平台向 parties through internet 独立第三方提供贷款 finance platform (i) – 86,420 Other loans receivable 其他应收贷款 (ii) – 40,956 – 127,376 Notes: 附注: (i) Amounts represented loans to independent third parties (i) 金额为通过独立金融服务公司之互联网 which were facilitated through the internet finance platform of 融资平台向独立第三方提供的贷款,并 independent financial services companies and were unsecured. 为无抵押。该等贷款的本金(到期日为 The principal of these loans (with maturity due within 60 days) and 60日内 )及有关利息( 年利率为6.00% the related interest (bearing 6.00% or 6.80% per annum) were 或6.80%)由中国内地的独立保险公司 insured by an independent insurance company based in Mainland 承保。该贷款已于截至二零一九年三月 China. The loans were fully settled during the year ended 31 March 三十一日止年度悉数偿付。 2019. (ii) The loans were made to independent third party and were (ii) 该贷款乃向独立第三方提供,并为无抵 unsecured, bearing interest rate at 7.36% per annum and 押、按年利率7.36%计息及于一年内 repayable within one year. The loans were fully settled during the 偿还。该贷款已于截至二零一九年三月 year ended 31 March 2019. 三十一日止年度悉数偿付。 238 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 27. PLEDGED DEPOSITS, RESTRICTED BANK 27. 已抵押存款、受限制银行结余 BALANCE AND CASH AT BANKS AND IN 以及银行及手头现金 HAND Cash at banks earns interest at floating rates based on daily 银行现金之利息乃按每日银行存款利率 bank deposit rates. As at 31 March 2019, the deposits bore 以浮息计算。于二零一九年三月三十一 interest rates ranging from 0.01% to 2.00% per annum (2018: 日, 存款以年利率介乎0.01%至2.00% ranging from 0.01% to 2.00% per annum) which are close to ( 二 零 一 八 年: 年 利 率 介 乎0.01%至 the market interest rates. 2.00%)计息,贴近市场利率。 The Group’s deposits have been pledged to secure loan 本集团之存款已予抵押,为本集团获授 facilities granted to the Group (Note 32), which will be released 的贷款融资作担保(附注32),存款将于 upon the settlement of the relevant borrowings. 偿付有关借贷后解除。 As at 31 March 2018, the Group had a restricted deposit held 于二零一八年三月三十一日,本集团于 at a bank in Mainland China as a reserve under a litigation 中国内地银行持有的受限制存款作为诉 claim, details of which are set out in Note 45. The litigation 讼申索之储备金,有关详情载于附注 claim was fully settled and the restricted deposit was released 45。诉讼申索已完全解决,而受限制存 during the year ended 31 March 2019. 款于截至二零一九年三月三十一日止年 度拨回。 As at 31 March 2019, the cash at banks and in hand, restricted 于二零一九年三月三十一日,本集团的 bank balance and pledged deposits of the Group which are 银行及手头现金、受限制银行结余及已 dominated in Renminbi (“RMB”) and held in Mainland China 抵押存款(均以人民币计值且于中国内地 were HK$266,636,000 (2018: HK$176,855,000). RMB is 持有)为266,636,000港元(二零一八年: not a freely convertible currency. Under Mainland China’s 176,855,000港元)。人民币不可自由兑 Foreign Exchange Control Regulations and Administration 换为其他货币。根据中国内地之外汇管 of Settlement and Sale and Payment of Foreign Exchange 理条例及结汇、售汇及付汇管理规定, Regulations, the Group is permitted to exchange RMB for 本集团获准于经授权经营外汇业务之银 foreign currencies through banks that are authorised to 行将人民币兑换为外币。 conduct foreign exchange business. 28. OTHER CASH FLOW INFORMATION 28. 其他现金流量资料 Reconciliation of liabilities arising from financing activities 融资活动所产生负债对账 The table below details changes in the Group’s liabilities 下表为本集团融资活动负债变动(包括现 from financing activities, including both cash and non- 金及非现金变动)之详情。融资活动负债 cash changes. Liabilities arising from financing activities are 为现金流量曾就此或日后现金流量将就 liabilities for which cash flows were, or future cash flows will 此于本集团综合现金流量表分类为融资 be, classified in the Group’s consolidated statement of cash 活动所得现金流量的负债。 flows as cash flows from financing activities. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 239 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 28. OTHER CASH FLOW INFORMATION 28. 其他现金流量资料(续) (Continued) Amounts due to non- controlling interests Borrowings Total 应付非控股 权益款项 借贷 总计 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 (Note 21(a)) (Note 32) (附注21(a)) (附注32) At 1 April 2018 于二零一八年四月一日 4,538 567,652 572,190 Changes from financing cash flows: 融资现金流量之变动: Advances from non-controlling interests 附属公司非控股权益垫款 of subsidiaries 2,309 – 2,309 Proceeds from new borrowings 新增借贷之所得款项 – 3,630,838 3,630,838 Repayment of borrowings 偿还借贷 – (3,299,062) (3,299,062) Interest paid 已付利息 – (40,956) (40,956) Total changes from financing cash 融资现金流之变动总额 flows 2,309 290,820 293,129 Exchange adjustments 汇兑调整 (208) (25,547) (25,755) Other change: 其他变动: Interest expenses 利息开支 – 40,956 40,956 At 31 March 2019 于二零一九年三月三十一日 6,639 873,881 880,520 240 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 28. OTHER CASH FLOW INFORMATION 28. 其他现金流量资料(续) (Continued) Amounts due to non- controlling interests Borrowings Total 应付非控股 权益款项 借贷 总计 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 (Note 21(a)) (Note 32) (附注21(a)) (附注32) At 1 April 2017 于二零一七年四月一日 1,578 396,377 397,955 Changes from financing cash flows: 融资现金流量之变动: Advances from non-controlling interests 附属公司非控股权益垫款 of subsidiaries 2,960 – 2,960 Proceeds from new borrowings 新增借贷之所得款项 – 2,231,457 2,231,457 Repayment of borrowings 偿还借贷 – (2,105,248) (2,105,248) Interest paid 已付利息 – (16,234) (16,234) Total changes from financing cash 融资现金流之变动总额 flows 2,960 109,975 112,935 Exchange adjustments 汇兑调整 – 45,066 45,066 Other change: 其他变动: Interest expenses 利息开支 – 16,234 16,234 At 31 March 2018 于二零一八年三月三十一日 4,538 567,652 572,190 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 241 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 29. TRADE PAYABLES 29. 应付贸易款项 The following is an ageing analysis of trade payables based on 基于发票日期之应付贸易款项于报告期 the invoice dates as at the end of the reporting period: 末之账龄分析如下: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 0 – 30 days 0至30日 71,917 10,194 31 – 60 days 31至60日 – 462 61 – 90 days 61至90日 – 2,290 Over 90 days 超过90日 8,964 1,555 80,881 14,501 30. CONTRACT LIABILITIES 30. 合约负债 31 March 2019 1 April 2018 31 March 2018 二零一九年 二零一八年 二零一八年 三月三十一日 四月一日 三月三十一日 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 Contract liabilities arising from 产生之合约负债 Sales of goods 货品销售 235,034 195,479 – Movements in contract liabilities 合约负债变动 2019 二零一九年 HK$’000 千港元 At 1 April 于四月一日 195,479 Decrease in contract liabilities as a result of 因确认年内计入于年初 recognising revenue during the year that 之合约负债 was included in the contract liabilities at the 之收益导致合约负债减少 beginning of the year (195,479) Increase in contract liabilities as a result of 因预收货品销售款项导致合约负债增加 receipts in advance of sales of goods 235,034 235,034 The contract liabilities are related to the advance 合约负债与就汽车销售收取来自客户之 considerations received from the customers for sales of 预收代价、于透过向客户交付汽车达成 automobiles, revenue from which is recognised when 履约责任时确认之收益有关。 the performance obligation is satisfied by delivering the automobiles to the customers. 242 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 31. RECEIPTS IN ADVANCE, ACCRUED 31. 预收款项、应计费用及其他应 CHARGES AND OTHER PAYABLES 付款项 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Current portion 流动部分 Receipts in advance from customers 预收客户款项 21,089 195,479 Accrued charges and other payables 应计费用及其他应付款项 240,047 92,891 261,136 288,370 Non-current portion: 非流动部分 Other payables 其他应付款项 – 304 32. BORROWINGS 32. 借贷 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Current 即期 Bank loans 银行贷款 143,041 362,308 Other loans 其他贷款 477,010 205,344 620,051 567,652 Non-current 非即期 Bank loans 银行贷款 253,830 – Total 总计 873,881 567,652 Effective interest rates per annum in 实际年利率介乎: range of: – fixed rate borrowings -定息借贷 5.35% to 8.50% 1.00% to 8.50% – variable rate borrowings -浮息借贷 4.79% to 5.26% 2.16% to 5.22% SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 243 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 32. BORROWINGS (Continued) 32. 借贷(续) Notes: 附注: (i) The borrowings are substantially denominated in RMB. (i) 借贷主要以人民币计值。 (ii) As at 31 March 2018 and 2019, certain inventories (Note 22) and (ii) 于二零一八年及二零一九年三月三十一 bank deposits (Note 27) were pledged to secure the loan facilities 日,若干存货(附注22)及银行存款(附 granted to the Group. 注27)予以抵押以获取授予本集团的贷 款融资。 (iii) As at 31 March 2019, the Group’s certain property, plant and (iii) 于二零一九年三月三十一日,本集团的 equipment (Note 16) and prepaid lease payments (Note 17) were 若干物业、机器及设备(附注16)及预付 pledged to secure the loan facilities granted to the Group. 租赁款项(附注17)予以抵押以获取授予 本集团的贷款融资。 (iv) Borrowings were secured by corporate guarantees executed by (iv) 于截至二零一八年及二零一九年三月 the Company and certain subsidiaries during the years ended 31 三十一日止年度,借贷以本公司及若干 March 2018 and 2019. 附属公司签立的企业担保作为抵押。 (v) Borrowings were secured by guarantees executed by a controlling (v) 于截至二零一九年三月三十一日止年 shareholder of the Company and his spouse during the year ended 度,借贷乃由本公司控股股东及其配偶 31 March 2019. 签立之担保作为抵押。 33. DEFERRED TAX 33. 递延税项 Deferred taxation is calculated in full on temporary differences 递延税项乃根据负债法,使用预期拨回 under the liability method at rates of taxation applicable when 暂时差异时之适用税率,就所有暂时差 the temporary differences are expected to reverse. 异计算。 The movement in deferred tax liabilities recognised in the 截 至 二 零 一 八 年 及 二 零 一 九 年 三 月 consolidated statement of financial position during the years 三十一日止年度于综合财务状况表,所 ended 31 March 2018 and 2019 is as follows: 确认递延税项负债之变动如下: 244 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 33. DEFERRED TAX (Continued) 33. 递延税项(续) Temporary difference on Business inventories combination Total 存货之 暂时差异 业务合并 合计 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 At 1 April 2017 于二零一七年四月一日 830 – 830 Credited to profit or loss 计入损益表 (152) – (152) At 31 March 2018 and 1 April 于二零一八年三月三十一日 2018 及二零一八年四月一日 678 – 678 Business combination 业务合并 – 103,303 103,303 Credited to profit or loss 计入损益表 (38) (6,662) (6,700) At 31 March 2019 于二零一九年三月三十一日 640 96,641 97,281 The Group has not recognised deferred tax assets in respect 本集团并未就累计税项亏损确认递延税 of cumulative tax losses of approximately HK$114,489,000 项资产约114,489,000港元(二零一八 (2018: HK$87,963,000) as it is not probable that future taxable 年:87,963,000港元),因有关税项司法 profits against which the losses can be utilised will be available 管辖区及实体不大可能产生未来应课税 in the relevant tax jurisdiction and entity. The tax losses arising 溢利以抵销可动用之有关亏损。倘中国 in Mainland China of approximately HK$4,905,000 (2018: 内地产生之税项亏损约4,905,000港元 HK$4,998,000) will be expired if they are not utilised to set off (二零一八年:4,998,000港元)于产生年 against the taxable profits within five years from the year in 度起计五年内未根据中国内地现行税法 which they arose under the current tax legislation in Mainland 用以抵销应课税溢利,则该税项亏损将 China. The tax losses arising in Hong Kong do not expire under 届满。于香港所产生之税项亏损不会根 current tax legislation. 据现行税法届满。 Deferred tax liabilities have not been established for the 鉴于本公司控制若干附属公司之股息 withholding tax that would be payable on the unremitted 政策,而暂时差异不大可能于可见将 earnings of certain subsidiaries because the Company controls 来拨回,故并无就该等附属公司未过账 the dividend policy of these subsidiaries and it is not probable 盈利应付之预扣税确立递延税项负债。 that the temporary differences will reverse in the foreseeable 于二零一九年三月三十一日,与该等附 future. Such unremitted earnings associated with investments 属公司投资有关之未过账盈利合共约 in subsidiaries totalled approximately HK$1,077,728,000 as at 为1,077,728,000港 元( 二 零 一 八 年: 31 March 2019 (2018: HK$1,055,234,000). 1,055,234,000港元)。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 245 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 34. SHARE CAPITAL 34. 股本 Number of ordinary shares Amount 普通股数目 数额 HK$’000 千港元 Authorised: 法定股本: Ordinary shares of HK$0.002 each 每股面值0.002港元之普通股 At 1 April 2017, 31 March 2018, 于二零一七年四月一日、 1 April 2018 and 31 March 2019 二零一八年三月三十一日、 二零一八年四月一日及 二零一九年三月三十一日 250,000,000,000 500,000 2019 2018 二零一九年 二零一八年 Number of shares HK$’000 Number of shares HK$’000 股份数目 千港元 股份数目 千港元 Ordinary shares, issued and fully paid: 已发行及缴足普通股: At beginning of year 于年初 4,941,237,447 9,882 4,141,237,447 8,282 Placing of shares (Note (i)) 配售股份(附注(i)) – – 800,000,000 1,600 Share repurchases (Note (ii)) 股份购回(附注(ii)) (281,552,000) (563) – – Issue of consideration shares upon 于收购一间附属公司后发行 acquisition of a subsidiary (Note (iii)) 代价股份(附注(iii)) 340,000,000 680 – – At end of year 于年末 4,999,685,447 9,999 4,941,237,447 9,882 Notes: 附注: (i) In October 2017, the Company entered into a placing agreement (i) 于二零一七年十月,本公司与一名配售 with a placing agent to place 800,000,000 new ordinary shares 代理订立配售协议,以根据一般授权按 at the placing price of HK$0.5681 under general mandate. The 配售价0.5681港元配售800,000,000股 placing of new shares was completed in November 2017. 新普通股。于二零一七年十一月已完成 配售新股份。 All new shares issued during the year ended 31 March 2018 rank 于截至二零一八年三月三十一日止年度 pari passu in all respects with the existing shares. 所有已发行新股份在所有方面与现有股 份享有同等权利。 246 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 34. SHARE CAPITAL (Continued) 34. 股本(续) Notes: (Continued) 附注(: 续) (ii) The Company repurchased 281,552,000 of its shares on the (ii) 于截至二零一九年三月三十一日止年 Stock Exchange for a total consideration of HK$84,833,000 度,本公司以总代价84,833,000港元于 during the year ended 31 March 2019. The share repurchases 联交所购回其281,552,000股股份。股 resulted in the decrease of the issued share capital of HK$563,000 份购回导致已发行股本减少563,000港 and contributed surplus of HK$84,270,000. 元及缴入盈余减少84,270,000港元。 (iii) During the year, the Company issued 340,000,000 ordinary (iii) 年内,本公司向卖方发行340,000,000 shares to vendor for acquisition of equity interest in Cheer Summit 股普通股收购采高投资有限公司的股权 Investment Limited (Note 24). The fair value of the consideration (附注24)。代价股份的公允值乃根据于 shares is determined based on the closing share price of HK$0.45 收购日期的股份收市价0.45港元厘定。 on the date of acquisition. 35. RESERVES 35. 储备 Share premium 股份溢价 Share premium represents premium arising from the issue of 股份溢价指因按超过每股面值之价格发 shares at a price in excess of their par value per share. The 行股份所产生之溢价。股份溢价账之应 application of the share premium account is governed by 用受百慕达一九八一年公司法第40条管 Section 40 of the Bermuda Companies Act 1981. 辖。 Capital reserve 资本储备 Capital reserve arose from waiver of interest on convertible 于过往年度,资本储备乃由本公司一名 notes by a shareholder of the Company in prior years. 股东豁免可换股票据之利息产生。 Special reserve 特别储备 Special reserve of the Group represents the difference 本集团之特别储备指本公司收购附属公 between the nominal amount of the shares of the subsidiaries 司股份当日该等股份之面值与于过往年 at the date on which they were acquired by the Company and 度进行集团重组时为收购所发行之股份 the nominal amount of the shares issued for the acquisition 面值两者之差额。 under a group reorganisation in prior years. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 247 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 35. RESERVES (Continued) 35. 储备(续) Contributed surplus 缴入盈余 Contributed surplus of the Group arose from (a) the 本集团之缴入盈余乃透过以下方式产 Company’s transfers of certain amounts of share premium 生:(a)取得本公司股东批准后,本公司 balance to the contributed surplus account, following the 转拨若干股份溢价结余款项至缴入盈余 approvals obtained from the Company’s shareholders, (b) 账,(b)因没收购股权或购股权失效自购 transfer from share option reverse due to forfeiture or lapse 股权储备转出,及(c)过往年度派付股息 of share options, and (c) dividends paid out in prior years and 及股份购回。 share repurchases. Exchange reserve 外汇储备 Exchange reserve comprises all foreign exchange differences 外汇储备包括产生自换算海外业务财务 arising from the translation of the financial statements of 报表之所有外汇差额。 foreign operations. Other reserve 其他储备 Other reserve mainly represents: 其他储备主要指: i) the differences between the considerations and (a) the i) 代价与(a)所出售之部分附属公司权 carrying amount of the partial interests in subsidiaries 益之账面金额;及 (b)所收购之非控 disposed of; and (b) the carrying amount of the non- 股权益之账面金额两者之差额;及 controlling interests acquired; and ii) share of other comprehensive income and other reserves ii) 分占一间联营公司其他全面收入及 of an associate. 其他储备。 248 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 35. RESERVES (Continued) 35. 储备(续) Statutory reserve 法定储备 Statutory reserve represents appropriations of profits retained 法定储备指本公司中国附属公司保留溢 by the Company’s PRC subsidiaries. In accordance with 利之分配。根据本公司中国附属公司各 the respective articles of association of the Company’s PRC 自之组织章程细则,该等公司须每年将 subsidiaries, they are required to appropriate amount not 其除所得税后溢利不少于10%分配至法 less than 10% of their profits after income tax to statutory 定储备,直至储备结余达其注册资本之 reserve each year, until the reserve balance reaches 50% of its 50%为止。该储备可用作扣减所产生之 registered capital. Such a reserve may be used to reduce any 任何亏损或拨充实收资本。 losses incurred or for capitalisation as paid-up capital. Fair value reserve (non-recycling) 公允值储备(不可转回) Fair value reserve comprises the cumulative net change in the 公允值储备包括于报告期末所持有而根 fair value of equity investment designated at FVTOCI under 据香港财务报告准则第9号指定为按公允 HKFRS 9 that are held at the end of the reporting period. 值计入其他全面收入之股权投资公允值 之累计变动净额。 36. SHARE-BASED EMPLOYEE 36. 以股份为基础之雇员补偿 COMPENSATION The Company’s share option scheme (the “Scheme”) was 本公司之购股权计划(「该计划」)乃根据 adopted pursuant to an ordinary resolution passed at a special 本公司于二零零二年十月七日举行之股 general meeting of the Company held on 7 October 2002 for 东特别大会上通过之普通决议案采纳, the primary purpose of providing incentives to directors and 其主要目的为给予董事及合资格雇员奖 eligible employees. The Scheme was expired on 6 October 励。该计划已于二零一二年十月六日届 2012. 满。 Pursuant to an ordinary resolution passed at an annual 根据本公司于二零一二年八月二十日举 general meeting of the Company held on 20 August 2012, the 行之股东周年大会上通过之普通决议 Company’s new share option scheme (the “New Scheme”) 案,本公司已采纳新购股权计划(「新计 was adopted and the Scheme was terminated. 划」),而该计划已告终止。 Under the New Scheme, the board of directors of the 根据新计划,本公司董事会可酌情将购 Company may, at its discretion, grant options to eligible 股权授予合资格雇员,包括本公司或其 employees, including executive directors, suppliers, 任何附属公司之执行董事、供应商、客 customers, advisers or consultants and joint venture partners 户、顾问或咨询人及合营伙伴或业务联 or business alliances of the Company or any of its subsidiaries 盟,以认购本公司股份。 to subscribe for shares in the Company. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 249 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 36. SHARE-BASED EMPLOYEE 36. 以股份为基础之雇员补偿(续) COMPENSATION (Continued) The total number of shares in respect of which options may 在未获本公司股东事先批准的情况下, be granted under the Scheme is not permitted to exceed 10% 可根据该计划授出之购股权所涉及之股 of the shares of the Company in issue at any point in time, 份总数不得超过本公司于任何时间已发 without prior approval from the Company’s shareholders. The 行股份之10%。在未获本公司股东事先 number of shares in respect of which options may be granted 批准的情况下,于任何一年内可授予任 to any individual in any one year is not permitted to exceed 何个人之购股权所涉及之股份数目,不 1% of the shares of the Company in issue at any point in time, 得超过本公司于任何时间已发行股份之 without prior approval from the Company’s shareholders. 1%。授予主要股东或独立非执行董事之 Options granted to substantial shareholder or independent 购股权倘超过本公司股本之0.1%或其价 non-executive directors in excess of 0.1% of the Company’s 值超过5,000,000港元,则必须事先获本 share capital or with a value in excess of HK$5,000,000 must 公司股东批准。 be approved in advance by the Company’s shareholders. Options granted must be taken up within 21 days of the date 授出之购股权必须于授出日期起计21 of grant, upon payment of HK$1 per each grant of options. 日内接纳,并于接纳时就每次授出购股 Options may be exercised from the date of grant of the share 权支付1港元。购股权可由购股权授出 option to the tenth anniversary of the date of grant. The 日期起至授出日期第十周年当日止期间 exercise price is determined by the directors of the Company 行使。行使价由本公司董事厘定,惟不 and will not be less than the highest of the closing price of 得低于股份于授出日期在联交所之收市 the shares on the Stock Exchange on the date of grant, the 价、股份于紧接购股权授出日期前五个 average closing prices of the shares on the Stock Exchange on 交易日在联交所之平均收市价或股份面 the five trading days immediately preceding the date of grant 值(以最高者为准)。 of the options or the nominal value of the shares. The New Scheme shall remain valid and effective for a period 新计划由二零一二年八月二十日(即此计 of ten years commencing from 20 August 2012, being the date 划根据其条款被视作生效之日期)起维持 on which the scheme was deemed to take effect in accordance 有效及生效,为期十年。 with the terms. All share-based employee compensation will be settled in 所有以股份为基础之雇员补偿将以权益 equity. The Group has no legal or constructive obligation to 结算。除透过发行本公司普通股外,本 repurchase or settle the options other than by issuing the 集团并无法律或推定责任回购或结算购 Company’s ordinary shares. 股权。 There was no share option outstanding under the New Scheme 于二零一八年及二零一九年三月三十一 as at 31 March 2018 and 2019. 日,新计划项下并无尚未行使之购股权。 250 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 37. OPERATING LEASE COMMITMENTS 37. 经营租赁承担 (a) Group as lessor (a) 本集团作为出租人 At the end of the reporting period, the total future 于报告期末,根据不可撤销经营租 minimum lease receivable under non-cancellable 赁应收之未来最低租金总额如下: operating leases is as follows: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Within one year 一年内 96,518 20 In the second to fifth years inclusive 第二年至第五年(包括  首尾两年) 195,621 – After fifth year 五年以上 91,181 – 383,320 20 (b) Group as lessee (b) 本集团作为承租人 At the end of the reporting period, the total future 于报告期末,本集团根据不可撤销 minimum lease payments payable by the Group under 经营租赁应付之未来最低租赁款项 non-cancellable operating leases, including operating 总额(包括附注39(b)所披露向关联 lease commitment to related parties as disclosed in Note 方作出之经营租赁承担)如下: 39(b), are as follows: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Within one year 一年内 100,051 85,343 In the second to fifth years inclusive 第二年至第五年 (包括首尾两年) 266,175 218,607 After fifth year 五年以上 277,466 23,713 643,692 327,663 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 251 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 37. OPERATING LEASE COMMITMENTS 37. 经营租赁承担(续) (Continued) (b) Group as lessee (Continued) (b) 本集团作为承租人(续) The Group leases a number of buildings, office premises, 本集团根据经营租赁租用多个楼 bonded warehouses, showrooms and staff quarters 宇、办公楼、保税仓库、展厅及员 under operating leases. The leases run for an initial 工宿舍。租赁初步为期一至十二年 period of one to twelve years (2018: one to eleven years). ( 二零一八年:一至十一年 )。 若 The actual payments in respect of certain operating 干经营租赁之实际付款乃按上表所 leases are calculated at the higher of the minimum 述最低承担及根据相关零售店销售 commitments as noted in the table above and the 额之百分比厘定之金额(以较高者 amounts determined based on a percentage of the sales 为准)计算。 of the related retail shops. 38. CAPITAL COMMITMENTS 38. 资本承担 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Contracted but not provided for 已订约但未拨备 in respect of – Acquisition of a property holding -收购一间物业控股公司 company – 669,136 – Purchase of property, plant -购买物业、机器及设备 and equipment – 400 – 669,536 252 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 39. RELATED PARTY DISCLOSURES 39. 关联方披露 During the year, except as disclosed elsewhere in these 年内,除于此等财务报表其他部分所披 financial statements, the Group also had the following 露者外,本集团亦曾与关联方进行下列 significant transactions with related parties: 重大交易: (a) Related party transactions (a) 关联方之交易 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Rental expense to Mr. Qi (Note (i)) 支付予綦先生之租金开支 (附注(i)) 27,567 63,814 Salaries paid to Mr. Qi (Note (i)) 支付予綦先生之 薪金(附注(i)) 280 – Management fee income from 来自一间关联公司之 a related company (Note (i)) 管理费收入(附注(i)) 218 1,135 Administrative fee income from 来自一间关联公司之 a related company (Note (i)) 行政费收入(附注(i)) – 613 Marketing fees to a related company 支付予一间关联公司之 营销费用 1,965 – Rental income from a related company 来自一间关联公司之 租金收入 372 – Purchases of goods from a related 向一间关联公司 company (Note (i)) 采购货品(附注(i)) – 121 Purchases of goods from 向一间联营公司采购货品 an associate – 99,906 Notes: 附注: (i) These related party transactions constitute connected (i) 该等关联方交易构成关连交易或持续关 transactions or continuing connected transactions as 连交易(定义见上市规则第14A章)。 defined in Chapter 14A of the Listing Rules. (ii) The above related party transactions are conducted in the (ii) 上述关联方之交易均于日常业务过程中 ordinary course of business with reference to the terms 按照订约各方相互协定之条款进行。 mutually agreed between the parties. The Group defines directors of the Company as key 本集团界定本公司董事为主要管理人 management personnel and their remunerations are set 员,彼等之薪酬载于附注12。 out in Note 12. During the year, the Group acquired buildings 年内,本集团以向綦先生收购一间物业 and prepaid lease payments of approximately 控股公司方式分别购入楼宇及预付租赁 HK$130,657,000 and HK$575,915,000 respectively by 款项约130,657,000港元及575,915,000 way of acquisition of a property holding company from 港元。 Mr. Qi. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 253 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 39. RELATED PARTY DISCLOSURES (Continued) 39. 关联方披露(续) (b) Operating lease commitment to related parties (b) 向关联方作出之经营租赁承担 At the end of the reporting period, the total future 于报告期末,本集团根据不可撤销 minimum lease payments payable by the Group to Mr. Qi 经营租赁应付綦先生之未来最低租 under non-cancellable operating leases were as follows: 赁款项总额现载列如下: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Within one year 一年内 27,377 66,370 In the second to fifth years inclusive 第二年至第五年 (包括首尾两年) 71,618 188,593 98,995 254,963 40. PARTICULARS OF PRINCIPAL 40. 主要附属公司详情 SUBSIDIARIES The following is a list of principal subsidiaries as at 31 March 于二零一九年三月三十一日之主要附属 2019. 公司之名单如下。 Percentage of Place/country of effective incorporation/ interest establishment and Class of Issued/paid-up held by the Principal activities and Name of subsidiary kind of legal entity capital held capital Company place of operations 本公司 注册成立╱成立地点╱ 已发行股本╱ 所持实际权益 附属公司名称 国家及法律实体类别 所持股本类别 实收资本 百分比 主要业务及营运地点 Carnaby Group Limited British Virgin Islands (“BVI”), Ordinary share United States Dollar 100%* Investment holding, BVI limited liability company (“US$”) 1 英属处女群岛,有限公司 普通股 1美元 100%* 投资控股,英属处女群岛 Cheer Summit Investment Limited BVI, limited liability company Ordinary share US$1 100% Investment holding, BVI 采高投资有限公司 英属处女群岛,有限公司 普通股 1美元 100% 投资控股,英属处女群岛 254 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 40. PARTICULARS OF PRINCIPAL 40. 主要附属公司详情(续) SUBSIDIARIES (Continued) Percentage of Place/country of effective incorporation/ interest establishment and Class of Issued/paid-up held by the Principal activities and Name of subsidiary kind of legal entity capital held capital Company place of operations 本公司 注册成立╱成立地点╱ 已发行股本╱ 所持实际权益 附属公司名称 国家及法律实体类别 所持股本类别 实收资本 百分比 主要业务及营运地点 San Sparkle Culture Investment Limited BVI, limited liability company Ordinary share US$1 100% Investment holding, BVI 盛耀蔚莱文化投资有限公司 英属处女群岛,有限公司 普通股 1美元 100% 投资控股,英属处女群岛 San Sparkle Pictures Industries Hong Kong, limited Ordinary share HK$10,000 100% Investment holding, Hong Kong Development Limited liability company 盛耀蔚莱影视产业发展有限公司 香港,有限公司 普通股 10,000港元 100% 投资控股,香港 Sparkle Roll (Denmark) Limited Hong Kong, limited Ordinary share HK$10,000 100%* Investment holding, Hong Kong liability company 耀莱(丹麦)有限公司 香港,有限公司 普通股 10,000 港元 100%* 投资控股,香港 Sparkle Roll (Hong Kong) Limited Hong Kong, limited Ordinary share HK$1 100% Trading of branded jewelleries and liability company provision of management service, Hong Kong 耀莱(香港)有限公司 香港,有限公司 普通股 1港元 100% 名牌珠宝贸易以及提供管理服务,香港 Sparkle Roll Cigars Holding Limited Hong Kong, limited Ordinary share US$3,000,000 50.1% Trading of cigars and smoker’s liability company accessories, Hong Kong 耀莱雪茄控股有限公司 香港,有限公司 普通股 3,000,000美元 50.1% 雪茄及烟草配件贸易,香港 Sparkle Roll Global Asset Management BVI, limited liability company Ordinary share US$1 100% Investment holding, BVI Limited (formerly known as Sparkle Roll Fine Wine Limited) 耀莱环球资产管理有限公司 英属处女群岛,有限公司 普通股 1美元 100% 投资控股,英属处女群岛 (前称耀莱醇酿酒业有限公司) Sparkle Roll Global Motors Hong Kong, limited liability Ordinary share HK$151,050,000 100% Investment holding, Hong Kong Holding Limited company 耀莱环球汽车控股有限公司 香港,有限公司 普通股 151,050,000港元 100% 投资控股,香港 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 255 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 40. PARTICULARS OF PRINCIPAL 40. 主要附属公司详情(续) SUBSIDIARIES (Continued) Percentage of Place/country of effective incorporation/ interest establishment and Class of Issued/paid-up held by the Principal activities and Name of subsidiary kind of legal entity capital held capital Company place of operations 本公司 注册成立╱成立地点╱ 已发行股本╱ 所持实际权益 附属公司名称 国家及法律实体类别 所持股本类别 实收资本 百分比 主要业务及营运地点 Sparkle Roll International Hong Kong, limited Ordinary share HK$100 100% Trading of branded watches and audio, Distributions Limited liability company equipment, Hong Kong 耀莱国际代理有限公司 香港,有限公司 普通股 100港元 100% 名牌手表及音响设备贸易,香港 Sparkle Roll Retail Net Malaysia, limited Ordinary share US$1 100% Trading of merchandised goods, Development Limited liability company Malaysia 耀莱零售网络发展有限公司 马来西亚,有限公司 普通股 1美元 100% 商品贸易,马来西亚 Sparkle Roll Watch & Jewelry Limited Hong Kong, limited Ordinary share HK$1 100% Trading of branded watches and liability company branded jewelleries, Hong Kong 耀莱钟表珠宝有限公司 香港,有限公司 普通股 1港元 100% 名牌手表及名牌珠宝贸易,香港 Balanorm Beo (Beijing) Trading Mainland China, limited Paid-up capital RMB50,000,000 100% Sales and distribution of audio Development Limited? liability company and visual consumer electronics products, Mainland China 衡准宝声(北京)贸易发展有限公司 中国内地,有限责任公司 实收资本 人民币50,000,000元 100% 销售及代理影音消费电子产品, 中国内地 Boao Economic and Trade Mainland China, limited Paid-up capital RMB50,000,000 100% Provision of exhibition and consultancy Development Limited? liability company services, Mainland China 铂傲经贸发展有限公司 中国内地,有限责任公司 实收资本 人民币50,000,000元 100% 提供展会及咨询服务,中国内地 Beijing De Te Motors Trading Limited Mainland China, limited Paid-up capital RMB101,400,000 100% Trading of automobiles and related liability company parts and accessories and provision of after-sales services, Mainland China 北京德特汽车贸易有限公司 中国内地,有限责任公司 实收资本 人民币101,400,000元 100% 汽车及相关零件及配件贸易以及提供 售后服务,中国内地 Sparkle Roll Ding Sheng (Beijing) Mainland China, limited Paid-up capital RMB10,000,000 100% Sales and distribution of merchandised Trading Development Limited? liability company goods, Mainland China 耀莱鼎盛(北京)贸易发展有限公司 中国内地,有限责任公司 实收资本 人民币10,000,000元 100% 销售及代理商品,中国内地 256 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 40. PARTICULARS OF PRINCIPAL 40. 主要附属公司详情(续) SUBSIDIARIES (Continued) Percentage of Place/country of effective incorporation/ interest establishment and Class of Issued/paid-up held by the Principal activities and Name of subsidiary kind of legal entity capital held capital Company place of operations 本公司 注册成立╱成立地点╱ 已发行股本╱ 所持实际权益 附属公司名称 国家及法律实体类别 所持股本类别 实收资本 百分比 主要业务及营运地点 Beijing Mei He Zhen Yong Motors Mainland China, limited Paid-up capital RMB194,800,000 100% Trading of automobiles and related Trading Limited? liability company parts and accessories and provision of after-sales services, Mainland China 北京美合振永汽车贸易有限公司 中国内地,有限责任公司 实收资本 人民币194,800,000元 100% 汽车及相关零件及配件贸易以及提供 售后服务,中国内地 Beijing San Sparkle Pictures Industries Mainland China, limited Paid-up capital RMB49,950,000 100% Provision of corporate management Development Limited (formerly known liability company and consultancy services, Mainland as Beijing Sparkle Roll Xin Gai Nian China Business Management Limited)? 北京盛耀蔚莱影视产业发展有限公司 中国内地,有限责任公司 实收资本 人民币49,950,000元 100% 提供企业管理及咨询服务,中国内地 (前称北京耀莱新概念商业管理有限公司) Beijing Sparkle Roll Fu Sheng Mainland China, limited Paid-up capital RMB5,000,000 51% Sales and distribution of apparel and Trading Company Limited? liability company accessories, Mainland China 北京耀莱服盛贸易有限公司 中国内地,有限责任公司 实收资本 人民币5,000,000元 51% 销售及代理成衣及配饰,中国内地 Beijing Sparkle Roll Motors Insurance Mainland China, limited Paid-up capital RMB10,000,000 100% Provision of insurance agency services, Agency Limited? liability company Mainland China 北京耀莱汽车保险代理有限公司 中国内地,有限责任公司 实收资本 人民币10,000,000元 100% 提供保险代理服务,中国内地 Beijing Wenfu Hengye Technology Mainland China, limited Paid-up capital RMB626,314,300 100% Property holding, Mainland China Development Co., Limited liability company 北京文福恒业科技发展有限公司 中国内地,有限责任公司 实收资本 人民币626,314,300元 100% 物业控股,中国内地 Jiao Zhi Zhuang Chen (Beijing) Trading Mainland China, limited Paid-up capital RMB49,700,000 100% Provision of public relation and Development Limited (formerly known liability company marketing services, Mainland China as Beijing Sparkle Roll Xin Jing Jie Public Relation Planning Limited)? 娇致妆辰(北京)经贸发展有限公司 中国内地,有限责任公司 实收资本 人民币49,700,000元 100% 提供公关策划及市场服务,中国内地 (前称北京耀莱新境界公关策划有限公司) SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 257 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 40. PARTICULARS OF PRINCIPAL 40. 主要附属公司详情(续) SUBSIDIARIES (Continued) Percentage of Place/country of effective incorporation/ interest establishment and Class of Issued/paid-up held by the Principal activities and Name of subsidiary kind of legal entity capital held capital Company place of operations 本公司 注册成立╱成立地点╱ 已发行股本╱ 所持实际权益 附属公司名称 国家及法律实体类别 所持股本类别 实收资本 百分比 主要业务及营运地点 Lu Yi Ya Shi (Beijing) Trading Mainland China, limited Paid-up capital RMB44,900,000 100% Sales of merchandised goods, Development Limited? liability company Mainland China 璐艺雅诗(北京)经贸发展有限公司 中国内地,有限责任公司 实收资本 人民币44,900,000元 100% 销售商品,中国内地 Quan Tian Property Management Mainland China, limited Paid-up capital RMB10,000,000 100% Provision of property management and Services Limited? liability company tenancy and sub-tenancy services, Mainland China 北京权天物业管理服务有限公司 中国内地,有限责任公司 实收资本 人民币10,000,000元 100% 提供物业管理及提供租赁及转租服务,  中国内地 San Sparkle (Beijing) International Culture Mainland China, limited Paid-up capital RMB49,300,000 100% Trading of artwork and provision of Development Limited (formerly known liability company culture and art exchange activities as Beijing Xiang Fang Business services, Mainland China Management Limited)? 盛耀蔚莱(北京)国际文化发展有限公司 中国内地,有限责任公司 实收资本 人民币49,300,000元 100% 艺术品贸易以及提供文艺交流活动服 (前称北京香仿商业管理有限公司) 务,中国内地 Sparkle Roll Oriental (Beijing) Mainland China, limited Paid-up capital RMB40,000,000 100% Trading of branded watches, branded Trading Development Limited? liability company jewelleries and fine wines and provision of consultancy services, Mainland China 耀莱东方(北京)贸易发展有限公司 中国内地,有限责任公司 实收资本 人民币40,000,000元 100% 名牌手表、名牌珠宝及名酒贸易以及 提供咨询服务,中国内地 Tianjin Heng Ying Tai Fu Trading Mainland China, limited Paid-up capital RMB38,700,000 100% Trading of automobiles and related Development Limited? liability company parts and accessories and provision of after-sales services, Mainland China 天津恒盈泰富贸易发展有限公司 中国内地,有限责任公司 实收资本 人民币38,700,000元 100% 汽车及相关零件及配件贸易以及提供 售后服务,中国内地 258 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 40. PARTICULARS OF PRINCIPAL 40. 主要附属公司详情(续) SUBSIDIARIES (Continued) Percentage of Place/country of effective incorporation/ interest establishment and Class of Issued/paid-up held by the Principal activities and Name of subsidiary kind of legal entity capital held capital Company place of operations 本公司 注册成立╱成立地点╱ 已发行股本╱ 所持实际权益 附属公司名称 国家及法律实体类别 所持股本类别 实收资本 百分比 主要业务及营运地点 Tianjin Xin Chang Tai Fu Mainland China, limited Paid-up capital RMB45,000,000 100% Trading of automobiles and related Trading Development Limited? liability company parts and accessories and provision of after-sales services, Mainland China 天津信昌泰富贸易发展有限公司 中国内地,有限责任公司 实收资本 人民币45,000,000元 100% 汽车及相关零件及配件贸易以及提供 售后服务,中国内地 Richmile (Shanghai) Commerce & Mainland China, limited Paid-up capital RMB10,000,000 100% Trading of branded watches and Trading Limited? liability company branded jewelleries and provision of consultancy services, Mainland China 瑞麦(上海)商贸有限公司 中国内地,有限责任公司 实收资本 人民币10,000,000元 100% 名牌手表及名牌珠宝贸易以及提供咨询 服务,中国内地 Yang Pu Quan Tian Commercial Mainland China, limited Paid-up capital RMB28,000,000 100% Provision of property management and Brand Network Services liability company tenancy and sub-tenancy services, Shares Limited? Mainland China 洋浦权天商业品牌网络服务股份有限公司 中国内地,有限公司 实收资本 人民币28,000,000元 100% 提供物业管理及租赁及转租服务, 中国内地 Zongquan Youjingge Catering Mainland China, limited Paid-up capital RMB7,000,000 100% Provision of catering services, Mainland Culture Development Limited? liability company China 北京棕泉有璟阁餐饮文化发展有限公司 中国内地,有限责任公司 实收资本 人民币7,000,000元 100% 提供餐饮服务,中国内地 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 259 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 40. PARTICULARS OF PRINCIPAL 40. 主要附属公司详情(续) SUBSIDIARIES (Continued) ? The English names of these subsidiaries established in Mainland ? 由于该等于中国内地成立之附属公司并 China represent management’s best effort at translating the 无注册正式英文名称,因此,该等英文 Chinese names of these subsidiaries as no official English names 名称乃由管理层尽最大努力以该等附属 have been registered. 公司之中文名称翻译。 * Directly held by the Company * 由本公司直接持有 The above table lists the subsidiaries of the Company which, 上表载列本公司董事认为主要影响本年 in the opinion of the directors of the Company, principally 度业绩或构成本集团资产净值重要部分 affected the results for the year or formed a substantial 之本公司附属公司。本公司董事认为, portion of the net assets of the Group. To give details of 若提供其他附属公司之详情,将令资料 other subsidiaries would, in the opinion of the directors of the 过于冗长。 Company, result in particulars of excessive length. None of the subsidiaries had issued any debt securities at the 概无附属公司于年末发行任何债务证券。 end of year. 41. SUBSIDIARIES WITH MATERIAL NON- 41. 拥有重大非控股权益之附属公 CONTROLLING INTERESTS 司 There are no subsidiaries that have material non-controlling 于二零一八年及二零一九年三月三十一 interests as at 31 March 2018 and 2019. 日,概无拥有重大非控股权益之附属公 司。 260 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS The Group is exposed to financial risks through its use of 本集团于日常业务过程中使用金融工 financial instruments in its ordinary course of operations. The 具,因而承受金融风险。该等金融风险 financial risks included market risk (including currency risk, 包括市场风险(包括货币风险、利率风险 interest rate risk and equity price risk), credit risk and liquidity 及股价风险)、信贷风险及流动性风险。 risk. Financial risk management is coordinated at the Group’s 金融风险管理由本集团总部统筹,并与 headquarters, in close co-operation with the board of 董事会紧密合作。管理金融风险之整体 directors. The overall objectives in managing financial risks 目标为在减低金融市场风险之情况下, focus on securing the Group’s short to medium term cash 确保本集团中短期之现金流量。 flows by minimising its exposure to financial markets. It is not the Group’s policy to engage in the trading of financial 为投机目的买卖金融工具并非本集团之 instruments for speculative purposes. 政策。 42.1 Categories of financial instruments 42.1 金融工具类别 The carrying amounts of each of the categories of 各类金融工具于报告期末之账面金 financial instruments as at the end of the reporting period 额如下: are as follows: 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Financial assets 金融资产 At fair value: 按公允值: Available-for-sale investment 可供出售投资 – 1,291,321 Financial assets at FVTOCI 按公允值计入其他全面 收入之金融资产 426,187 – Investment in films 投资电影 301,832 – At amortised cost: 按摊销成本: Investment in debt securities 投资债务证券 – 440,000 Loans receivables 应收贷款 – 127,376 Deposits paid for acquisition of 收购一间物业控股 a property holding company 公司已付之按金 – 135,802 Rental deposits paid to 已付一名关联方 a related party 租金按金 6,989 15,812 Trade receivables 应收贸易款项 21,591 5,342 Other receivables 其他应收款项 130,577 150,841 Amounts due from related parties 应收关联方款项 – 1,729 Pledged deposits 已抵押存款 106,354 91,357 Restricted bank balance 受限制银行结余 – 5,304 Cash at banks and in hand 银行及手头现金 185,241 155,650 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 261 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.1 Categories of financial instruments (Continued) 42.1 金融工具类别(续) 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Financial liabilities 金融负债 Financial liabilities measured 以摊销成本计量之 at amortised cost: 金融负债: Trade payables 应付贸易款项 80,881 14,501 Accrued charges and other 应计费用及其他 payables 应付款项 240,047 93,195 Amounts due to non-controlling 应付非控股权益款项 interests 6,639 4,538 Amounts due to related parties 应付关联方款项 – 2,424 Borrowings 借贷 873,881 567,652 42.2 Foreign currency risk 42.2 外币风险 Foreign currency risk refers to the risk that the fair value 外币风险指金融工具之公允值或未 or future cash flows of a financial instrument will fluctuate 来现金流量因外币汇率变动而波动 because of changes in foreign exchange rates. The 之风险。本集团主要在香港、中国 Group mainly operates in Hong Kong, Mainland China 内地及马来西亚营运,大部分交易 and Malaysia with most of the transactions denominated 以港元、丹麦克朗、欧元、瑞士法 and settled in HK$, DKK, EUR, CHF, RMB and US$. 郎、人民币及美元列值及结算。本 The Group’s exposure to foreign currency risk primarily 集团之外币风险主要源自以各集团 arises from certain financial instruments including equity 实体功能货币以外货币(包括丹麦 investment, trade and other receivables, rental deposits 克朗、欧元、瑞士法郎、人民币及 paid to a related party, amounts due from related parties, 美元)列值之若干金融工具,包括 cash at banks and in hand, trade and other payables 股权投资、应收贸易款项及其他应 and borrowings which are denominated in currencies 收款项、已付一名关联方租金按 other than the functional currency of the respective group 金、应收关联方款项、银行及手头 entities, including DKK, EUR, CHF, RMB and US$. During 现金、应付贸易款项及其他应付款 both years, the Group did not have foreign currency 项及借贷。于两个年度内,本集团 hedging policy but management continuously monitors 均无外币对冲政策,然而,管理层 foreign exchange exposure. 会持续监控外汇风险。 262 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.2 Foreign currency risk (Continued) 42.2 外币风险(续) Foreign currency denominated financial assets and 以外币计值之金融资产及金融负债 financial liabilities, translated into HK$ at the prevailing 于报告期末按当时收市价换算为港 closing rates at the end of the reporting period, are as 元,现载列如下: follows: 2019 2018 二零一九年 二零一八年 Financial Financial Net Financial Financial Net assets liabilities exposure assets liabilities exposure 金融资产 金融负债 风险净额 金融资产 金融负债 风险净额 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 千港元 DKK 丹麦克朗 428,202 – 428,202 1,291,321 – 1,291,321 EUR 欧元 934 (1,166) (232) 24 (3,775) (3,751) CHF 瑞士法郎 471 – 471 510 – 510 RMB 人民币 13,788 (148,832) (135,044) 40,970 – 40,970 US$ 美元 5,831 (501) 5,330 14,842 – 14,842 Sensitive analysis 敏感度分析 As US$ is pegged to HK$, the Group does not expect 由于美元与港元挂钩,因此,本集团预 any significant movement in the HK$/US$ exchange rate. 期港元兑美元汇率不会出现任何重大变 No sensitivity analysis in respect of the Group’s financial 动。由于本公司董事认为,鉴于美元兑 assets and financial liabilities denominated in US$ is 港元汇率于报告期末之变动轻微,本集 disclosed as in the opinion of directors of the Company, 团以美元列值之金融资产及金融负债之 such sensitivity analysis does not give additional value in 敏感度分析并无提供额外价值,因而并 view of insignificant movement in the US$/HK$ exchange 无披露有关敏感度分析。 rates at the end of the reporting period. The following table illustrates the sensitivity of the 下表阐述本集团于两个年度之业绩及保 Group’s results for the years and retained profits 留溢利对港元兑丹麦克朗、欧元、瑞士 in regards to a 5% (2018: 5%) appreciation in HK$ 法郎及人民币分别升值5%(二零一八年: against DKK, EUR, CHF and RMB respectively. The 5% 5%)之敏感度。5%乃向主要管理人员作 is the rate used when reporting foreign currency risk 外币风险内部报告采用之比率,并为管 internally to key management personnel and represents 理层对外币汇率潜在变动之最佳估计。 management’s best assessment of the possible change in foreign exchange rates. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 263 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.2 Foreign currency risk (Continued) 42.2 外币风险(续) Sensitive analysis (Continued) 敏感度分析(续) 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 DKK 丹麦克朗 (21,410) (64,566) EUR 欧元 2 145 CHF 瑞士法郎 (20) (26) RMB 人民币 6,752 (2,049) The sensitivity analysis of the Group’s exposure to 本集团于报告期末承受之外币风险敏感 foreign currency risk at the end of the reporting period 度分析以假设外币汇率百分比变动于财 has been determined based on the assumed percentage 政年度初发生,并于全年维持不变为依 changes in foreign currency exchange rates taking place 据而厘定。 at the beginning of the financial years and held constant throughout the year. A 5% depreciation in HK$ against DKK, EUR, CHF and 港元兑丹麦克朗、欧元、瑞士法郎及人 RMB would have the same magnitude on the Group’s 民币贬值5%,将对本集团于本年度之业 results for the year and retained profits but of opposite 绩及保留溢利具有相等但相反之影响。 effect. Exposures to foreign exchange rates vary during the 外币汇率风险会因应年内之海外交易数 year depending on the volume of overseas transactions. 目而有所不同。尽管如此,上述分析被 Nevertheless, the analysis above is considered to be 视为可代表本集团所承受之外币风险。 representative of the Group’s exposure to foreign currency risk. 264 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.3 Interest rate risk 42.3 利率风险 The Group’s interest rate risk arises primarily from bank 本集团之利率风险主要源自银行存 deposits (Note 27) and borrowings (Note 32). The Group 款( 附注27)及借 贷(附注32)。 本 has not used any derivative contracts in order to hedge 集团并无使用任何衍生工具合约对 its exposure to interest rate risk. The Group does not 冲其利率风险。本集团预计银行存 anticipate significant impact to bank deposits because 款不会产生重大影响,因银行存款 the interest rates of bank deposits are not expected to 之利率预期并不会发生重大变动。 change significantly. The Group has not formulated a 本集团并无制订管理利率风险之政 policy to manage the interest rate risk. 策。 The Group’s interest rate profile as monitored by 本集团之利率概况由管理层监察, management is set out in below: 并载列如下: 2019 2018 二零一九年 二零一八年 Amount Amount 金额 金额 HK$’000 HK$’000 千港元 千港元 Fixed rate borrowings: 定息借贷: Borrowings 借贷 826,399 439,998 Variable rate borrowings: 浮息借贷: Borrowings 借贷 47,482 127,654 The sensitivity analyses below have been determined 下列敏感度分析根据报告期末浮息 based on the exposure to cash flow interest rate risk 借贷的现金流量利率风险而厘定。 for variable rate borrowings at the end of the reporting 分析乃假设规定的变动于财政年度 period. The analysis is prepared assuming the stipulated 开始发生,并在整个报告期内维持 changes taking place at the beginning of the financial 不变。使用50基点上升或下降幅度 year and held constant throughout the reporting period. 乃管理层评估的合理利率变动。 A 50 basis points increase or decrease is used which represents management’s assessment of the reasonably possible change in interest rates. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 265 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.3 Interest rate risk (Continued) 42.3 利率风险(续) If interest rates had been 50 basis points higher/lower 倘利率上升╱下降50个基点及所有 and all other variables were held constant, the Group’s 其他变数保持不变,本集团截至二 profit after taxation for the year ended 31 March 2019 零一九年三月三十一日止年度的除 would decrease/increase by approximately HK$178,000 税后溢利将减少╱增加约178,000 (2018: HK$479,000). 港元(二零一八年:479,000港元)。 42.4 Equity price risk 42.4 股价风险 The Group is exposed to equity price changes arising 本集团就于二零一八年三月三十一 from equity investments classified as available-for-sale 日分类为可供出售投资之股权投资 investment as at 31 March 2018 and financial assets at 及于二零一九年三月三十一日按公 FVTOCI as at 31 March 2019. 允值计入其他全面收入之金融资产 面临股价变动风险。 The management would manage its exposure arising 管理层将透过密切监督各股权投资 from the investment by closely monitoring the 的表现及市况管理其投资产生之风 performance of the respective equity investments and 险。 market conditions. At 31 March 2019, it is estimated that an increase/ 于二零一九年三月三十一日,本公 decrease of 5% in the market price of this listed equity 司估计,在所有其他变数保持不 securities, with all other variables held constant, would 变的情况下,上市股本证券市价 have increased/decreased the Group’s fair value 上升╱下降5%将导致本集团公允 reserve (other components of consolidated equity) 值储备(综合权益之其他部分)增 by approximately HK$21,309,000 (31 March 2018: 加╱减少约21,309,000港元(二零 HK$64,566,000). 一八年三月三十一日:64,566,000 港元)。 42.5 Credit risk 42.5 信贷风险 Credit risk refers to the risk that the counterparty to a 信贷风险指金融工具之对手方未能 financial instrument would fail to discharge its obligation 根据金融工具之条款履行其责任, under the terms of the financial instrument and cause 令本集团蒙受财务损失之风险。本 a financial loss to the Group. The Group’s credit risks 集团信贷风险主要归因于应收贸易 are primarily attributable to trade and other receivables, 款项及其他应收款项、应收关联方 amounts due from related parties, pledged deposits, 款项、已抵押存款、受限制银行结 restricted bank balances and cash at banks and in hand. 余以及银行及手头现金。本集团并 The Group has no significant concentrations of credit 无重大集中信贷风险。 risk. 266 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.5 Credit risk (Continued) 42.5 信贷风险(续) The management of the Group considers pledged 本集团管理层认为存放于信贷评级 deposits, restricted bank balances and cash at banks 较高的国有银行或金融机构的已抵 and in hand that are deposited with state-owned banks 押存款、受限制银行结余以及银行 or financial institutions with high credit rating to be low 及手头现金为低信贷风险金融资 credit risk financial assets. In addition, trade receivables 产。此外,与透过如银联、支付宝 in connection with bills settled through payment 或微信支付等支付平台结算的账单 platforms such as Unionpay, Alipay or WeChat Pay are 有关的应收贸易款项亦具有高信贷 also with high credit rating and no past due history. 评级及并无逾期历史。本集团管理 The management of the Group considers these assets 层认为该等资产为短期性质及根据 are short-term in nature and the probability of default 发行人于二零一九年三月三十一日 is negligible on the basis of high-credit-rating issuers 的高信贷评级拖欠的可能性极低。 as at 31 March 2019. In respect of rental receivables, 至于租金应收账项,已持有足够的 sufficient rental deposits from tenants are held to cover 租户租金按金以弥补潜在的信贷风 potential exposure to credit risk. Further, evaluations 险。此外,本集团亦会参考客户之 are made for the customers with reference to their 还款历史及财政实力,以及客户所 repayment history and financial strength, as well as the 在的经营环境而作出评估。因此, economic environment in which the customer operates. 于二零一九年三月三十一日并无确 Accordingly, no loss allowance was recognised as at 31 认亏损拨备。 March 2019. The Group has credit risk on amounts due from related 本集团于二零一九年三月三十一日 parties as at 31 March 2019. The management of 的信贷风险为应收关联方款项。本 the Group has made periodic assessments as well 集团管理层基于历史结算记录进行 as individual assessment on recoverability based on 定期评估及个别评估,并对前瞻性 historical settlement records and adjusts for forward- 资料进行调整。鉴于该等关联方的 looking information. In view of the strong financial 强大财务能力及已考虑该等关联方 capability of these related parties and considered the 营运所在行业的未来前景,本集团 future prospects of the industry in which these related 管理层认为,该等关联方将不存在 parties operate, the management of the Group does not 拖欠风险及预期彼等不会产生任何 consider there is a risk of default and does not expect 不履约亏损,因此,并未就应收关 any losses from non-performance by these related 联方款项确认减值。 parties, and accordingly, no impairment was recognised in respect of the amounts due from related parties. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 267 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.5 Credit risk (Continued) 42.5 信贷风险(续) In determining the ECL for other receivables, the 在厘定其他应收款项的预期信贷亏 management of the Group has taken into account 损时,本集团管理层已考虑过往违 the historical default experience and forward-looking 约经验及前瞻性资料(如适用),并 information, as appropriate, and concluded that 总结本集团未偿还之其他应收款项 credit risk inherent in the Group’s outstanding other 的信贷风险并不重大。本集团管理 receivables is insignificant. The management of the 层已评估其他应收款项的信贷风险 Group has assessed that other receivables have not had 自初步确认以来并无显著增加及违 a significant increase in credit risk since initial recognition 约风险并不重大,因此,并无确认 and risk of default is insignificant, and therefore, no 减值。 impairment has been recognised. 42.6 Liquidity risk 42.6 流动性风险 Liquidity risk relates to the risk that the Group will 流动性风险与本集团未能履行其金 not be able to meet its obligations associated with its 融负债责任之风险有关。本集团承 financial liabilities. The Group is exposed to liquidity 受有关偿付应付贸易款项及其融资 risk in respect of settlement of trade payables and its 责任以及现金流管理之流动性风 financing obligations, and also in respect of its cash flow 险。本集团之目标为将流动资产及 management. The Group’s objective is to maintain an 承诺信贷融资维持于合适水平,以 appropriate level of liquid assets and committed lines of 应付其长短期负债需要。 funding to meet its liability requirements in the short and longer term. The Group manages the liquidity needs on a consolidated 本集团通过审慎监控长期金融负债 basis by carefully monitoring scheduled debt servicing 之预计还款期及日常业务之预期现 payments for long term financial liabilities as well as 金流入及流出,以综合基准管理其 forecast cash inflows and outflows due in day to day 流动资金需要。 business. Analysed below is the Group’s remaining contractual 以下分析为本集团非衍生金融负债 maturities for the non-derivative financial liabilities at 于报告期末之剩余合约到期情况。 the end of the reporting period. When the creditor has 倘若债权人有权选择负债还款时 a choice of when the liability is settled, the liability is 间,则有关负债按本集团可能被要 included on the basis of the earliest date on which the 求还款之最早日期计算。倘若负债 Group can be required to pay. Where the settlement of 属分期还款,则每期还款将分配至 the liability is in instalments, each instalment is allocated 本集团承诺付款之最早期间内。 to the earliest period in which the Group is committed to pay. The analysis is based on the undiscounted cash flows of 该分析以金融负债之未贴现现金流 the financial liabilities. 量为依据。 268 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.6 Liquidity risk (Continued) 42.6 流动性风险(续) Total Less than contractual one year or Carrying undiscounted repayable One year amount cash flow on demand or above 合约未贴现 少于一年或 账面金额 现金流量总额 按要求偿还 一年或以上 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 0 At 31 March 2019 于二零一九年 三月三十一日 Non-derivative financial 非衍生金融工具: instruments: Trade payables 应付贸易款项 80,881 80,881 80,881 – Accrued charges and other 应计费用及其他应付款项 payables 240,047 240,047 240,047 – Amounts due to non-controlling 应付非控股权益款项 interests 6,639 6,639 6,639 – Borrowings 借贷 873,881 932,924 635,984 296,940 1,201,448 1,260,491 963,551 296,940 At 31 March 2018 于二零一八年 三月三十一日 Non-derivative financial 非衍生金融工具: instruments: Trade payables 应付贸易款项 14,501 14,501 14,501 – Accrued charges and other 应计费用及其他应付款项 payables 93,195 93,195 92,891 304 Amounts due to non-controlling 应付非控股权益款项 interests 4,538 4,538 4,538 – Amounts due to related parties 应付关联方款项 2,424 2,424 2,424 – Borrowings 借贷 567,652 572,002 572,002 – 682,310 686,660 686,356 304 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 269 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.7 Fair value measurements 42.7 公允值计量 (i) Financial instruments measured at fair value (i) 按公允值计量之金融工具 Fair value hierarchy 公允值等级 HKFRS 13 “Fair Value Measurement” categorises 香港财务报告准则第13号「公 fair value measurements into a three-level hierarchy. 允值计量」界定公允值计量之 The level into which a fair value measurement 等级分为三个等级。根据估 is classified is determined with reference to the 值方法所使用输入值是否可 observability and significance of the inputs used in 观察及其重要性作出以下分 the valuation technique as follows: 类: Level 1 valuations: Fair value measured using 第一级估值:以第一级 only Level 1 inputs i.e. unadjusted quoted 输入值计量之公允值, prices in active markets for identical assets or 即以相同资产或负债于 liabilities at the measurement date 计量日在活跃市场中的 未调整报价计量 Level 2 valuations: Fair value measured using 第二级估值:以第二级 Level 2 inputs i.e. observable inputs which 输入值计量之公允值, fail to meet Level 1, and not using significant 即其输入值之可观察性 unobservable inputs. Unobservable inputs are 并未如第一级输入值, inputs for which market data are not available 但其重要输入值并不使 用不可观察之数据。不 可观察之输入值为并无 市场数据可作参考之输 入值 Level 3 valuations: Fair value measured using 第三级估值:使用不可 significant unobservable inputs 观察数据作重要输入值 以计量之公允值 Level 1 Level 2 Level 3 Total 第一级 第二级 第三级 总计 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 0 At 31 March 2019 于二零一九年三月三十一日 Financial assets 金融资产 Financial assets at FVTOCI 按公允值计入其他全面收入 之金融资产 426,187 – – 426,187 Investment in films 投资电影 – – 301,832 301,832 270 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 42. FINANCIAL RISK MANAGEMENT AND FAIR 42. 金融风险管理及公允值计量 VALUE MEASUREMENTS (Continued) (续) 42.7 Fair value measurements (Continued) 42.7 公允值计量(续) (i) Financial instruments measured at fair value (i) 按公允值计量之金融工具 (Continued) (续) Fair value hierarchy (Continued) 公允值等级(续) The Group’s contingent considerations are 本集团的或然代价于附注24 further detailed in Notes 24 and 44(b), and their 及44(b)进一步详述,而其计 measurements fall into Level 3 of the fair value 量方法属于上文所述公允值 hierarchy described above. 等级的第三级。 At 31 March 2018, the only financial instrument 于二零一八年三月三十一 of the Group carried at fair value was listed equity 日,本集团唯一以公允值入 securities of approximately HK$1,291,321,000 账之金融工具为于丹麦上市 listed in Denmark (Note 20(b)). These instruments 之上市股本证券(附注20(b)) are measured at fair value on a recurring basis and 约1,291,321,000港元。该等 their fair value measurements fall into Level 1 of the 金融工具定期以公允值作出 fair value hierarchy described above. 计量并按以上架构列作第一 级。 During the years ended 31 March 2018 and 2019, 截至二零一八年及二零一九 there were no transfers between Level 1 and Level 年三月三十一日止年度, 第 2, or transfers into or out of Level 3. The Group’s 一级与第二级之间并无转 policy is to recognise transfers between levels of fair 换,亦无自第三级转入或转 value hierarchy as at the end of the reporting period 出。本集团之政策为于发生 in which they occur. 转换之报告期末确认公允值 层级间之转换。 (ii) Fair value of financial instruments carried at (ii) 并非以公允值计量的金融工 other than fair value 具的公允值 The carrying amounts of the Group’s assets and 本集团于二零一八年及二零 liabilities carried at cost or amortised cost were not 一九年三月三十一日按成本 materially different from their fair values as at 31 或摊销成本列账之资产及负 March 2018 and 2019. 债均与其当时之公允值没有 重大差异。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 271 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 43. CAPITAL MANAGEMENT 43. 资本管理 The primary objective of the Group’s capital management is 本集团资本管理之主要目标是保障其维 to ensure that it maintains a strong credit rating and healthy 持强健之信用评级及健康之资本比率, capital ratios in order to support its business and maximise 以支持其业务及使股东价值最大化。 shareholders value. The Group manages its capital structure and makes 本集团根据经济状况之变化管理其资本 adjustments to it, in light of changes in economic conditions. 结构并对其作出调整。为维持或调整资 To maintain or adjust the capital structure, the Group may 本结构,本集团或须调整向股东派付之 adjust the dividend payment to shareholders, return capital to 股息、向股东归还资本或发行新股份。 shareholders, or issue new shares. No changes were made in 于本年度,本集团之目标、政策或程序 the objectives, policies or processes during the year. 并无变更。 The Group monitors capital using a gearing ratio, which is 本集团采用资本负债比率(即债务总额除 total debt divided by total capital. Total debt is calculated 以资本总额)监控资本。债务总额乃按借 as borrowings, as shown in the consolidated statement of 贷计算,并载于综合财务状况报表内。 financial position. Total capital is calculated as total equity, as 资本总额乃按权益总额计算,并载于综 shown in the consolidated statement of financial position. The 合财务状况报表内。本集团之目标是使 Group aims to maintain the gearing ratio at a reasonable level. 资本负债比率维持在一个合理水平上。 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 Total debt 债务总额 Borrowings 借贷 873,881 567,652 Total capital 资本总额 2,373,194 3,023,180 Gearing ratio 资本负债比率 36.8% 18.8% 272 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 44. BUSINESS COMBINATIONS 44. 业务合并 (a) Acquisition of北京棕泉有璟阁餐饮文化发展有限公司 (a) 收购北京棕泉有璟阁餐饮文化发展 (“ZQYJG”) 有限公司(「棕泉有璟阁」) During the year, the Group entered into a sale and 年内,本集团订立买卖协议,以收购棕 purchase agreement for the acquisition of 100% of the 泉有璟阁100%股本权益,购买代价约人 equity interest in ZQYJG, which is principally engaged 民币7,000,000元(相当于约8,046,000港 in provision of catering services in the PRC, at a 元),以现金结算,该公司为主要于中国 purchase consideration of RMB7,000,000 (equivalent to 提供餐饮服务。 approximately HK$8,046,000) which has been settled by cash. Acquisition-related costs have been excluded from the 收购相关成本已排除在所转拨的代价 consideration transferred. The costs were insignificant 外。成本并不重大,并已支付,计入综 and have been expensed and are included in 合全面收入报表的「行政费用」内。 “administrative expenses” in the consolidated statement of comprehensive income. The fair values of identifiable assets and liabilities of the 附属公司于收购日期的可辨认资产及负 subsidiary as at the date of acquisition and the goodwill 债及由此产生之商誉之公允值如下: arising therefrom were as follows: Fair value at date of acquisition 于收购日期之公允值 HK$’000 千港元 Property, plant and equipment 物业、机器及设备 8,902 Inventories 存货 32 Trade receivables 应收贸易款项 288 Deposits, prepayments and other receivables 按金、预缴款项及其他应收款项 1,079 Cash at banks and in hand 银行及手头现金 6,007 Trade payables 应付贸易款项 (2,406) Accruals and other payables 应计款项及其他应付款项 (8,043) Amounts due to related companies 应付关联公司款项 (100) Total identifiable net assets at fair value 以公允值计量的可辨认资产净值总额 5,759 Goodwill 商誉 2,287 Satisfied by cash 以现金支付 8,046 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 273 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 44. BUSINESS COMBINATIONS (Continued) 44. 业务合并(续) (a) Acquisition of北京棕泉有璟阁餐饮文化发展有限公司 (a) 收购北京棕泉有璟阁餐饮文化发展 (“ZQYJG”) (Continued) 有限公司(「棕泉有璟阁」()续) The fair value of assets acquired and liabilities assumed 所收购资产及所承担负债之公允值与合 approximated the gross contractual amounts. 约总额相若。 The goodwill arose in the above acquisition because the 上述收购产生商誉,因为代价包括透过 consideration included benefit of enhancing the sales 两家餐厅及相同品牌下其他餐厅的连锁 channels of fine wines through the two restaurants and 提升名酒的销售渠道。 the chain of other restaurants under the same brand. None of the goodwill arising on the acquisition is 预期该收购所产生的商誉不会扣税。 expected to be deductible for tax purposes. An analysis of the cash flows in respect of the acquisition 有关收购一间附属公司之现金流量分析 is as follows: 如下: HK$’000 千港元 Cash consideration paid 所支付现金代价 (8,046) Cash at banks and in hand 银行及手头现金 6,007 Net cash outflows 现金流出净额 (2,039) Since the acquisition, the acquired business contributed 自收购事项后,所收购业务为本集团截 revenue of approximately HK$14,832,000 and loss of 至二零一九年三月三十一日止年度的综 approximately HK$868,000 to the Group’s consolidated 合溢利贡献收益约为14,832,000港元及 profit for the year ended 31 March 2019. 亏损约为868,000港元。 The Group’s revenue and profit would have been 倘收购已于二零一八年四月一日完成, increased by approximately HK$28,387,000 and 则本集团之期内收益及溢利将分别增加 HK$5,726,000 respectively for the period if the 约28,387,000港 元 及5,726,000港 元。 acquisition had been completed on 1 April 2018. This 此备考资料仅供说明用途及并不能充分 pro forma information is for illustrative purpose only and 表示倘收购已于二零一八年四月一日完 is not necessarily indication of revenue and results of 成,本集团可实际达成之溢利及经营业 operations of the Group that actually would have been 绩,亦不得用作未来业绩之预测。 achieved had the acquisition been completed on 1 April 2018 nor is it intended for projection of future results. 274 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 44. BUSINESS COMBINATIONS (Continued) 44. 业务合并(续) (b) Acquisition of Reliable Intelligence International (b) 收购信智国际有限公司(「信智国 Limited (“RII”) and its subsidiaries (together the “RII 际」)及其附属公司(统称「信智国际 Group”) 集团」) During the year, the Group has entered into an equity 年内,本集团就自独立第三方收购 transfer agreement in relation to the acquisition of the 信智国际全部股权订立股权转让协 entire equity interest of RII from an independent third 议。有关交易之进一步详情载于本 party. Further details of the transaction were set out in 公司日期为二零一八年六月二十五 the announcement of the Company dated 25 June 2018. 日之公布。 The purchase consideration of RMB428,000,000 购买代价人民币428,000,000元(约 (equivalent to approximately HK$497,674,000) has been 等于497,674,000港元)已使用现金 settled by cash. 结算。 The fair values of identifiable assets and liabilities of the 于收购日期信智国际集团之可识别 RII Group as at the date of acquisition and the goodwill 资产及负债及由此产生之商誉之公 arising therefrom were as follows: 允值如下: Fair value at date of acquisition 于收购日期之公允值 HK$’000 千港元 Property, plant and equipment 物业、机器及设备 18 Other intangible assets 其他无形资产 413,211 Trade receivables 应收贸易款项 7,194 Deposits, prepayments and 按金、预缴款项及其他应收款项 other receivables 74,448 Cash at banks and in hand 银行及手头现金 15,912 Trade payables 应付贸易款项 (10,738) Accruals and other payables 应计费用及其他应付款项 (88,155) Deferred tax liabilities 递延税项负债 (103,303) Total identifiable net assets at fair value 按公允值之已识别总资产净值 308,587 Goodwill 商誉 189,087 Satisfied by cash 以现金支付 497,674 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 275 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 44. BUSINESS COMBINATIONS (Continued) 44. 业务合并(续) (b) Acquisition of Reliable Intelligence International (b) 收购信智国际有限公司(「信智国 Limited (“RII”) and its subsidiaries (together the “RII 际」)及其附属公司(统称「信智国际 Group”) (Continued) 集团」()续) Acquisition-related costs of HK$22,659,000 have been 收购相关成本22,659,000港元已自 charged to administrative expenses in the consolidated 截至二零一九年三月三十一日止年 statement of comprehensive income during the year 度之综合全面收入报表之行政费用 ended 31 March 2019. 内扣除。 The goodwill arose in the above acquisition because 上述收购产生商誉,因为代价包括 the consideration included benefits of future market 本集团未来市场发展及零售店扩张 development of the Group and synergies on retail store 之协同效应的福利。该等福利并未 expansion. These benefits are not recognised separately 自商誉单独确认,因为彼等不符合 from goodwill because they do not meet the recognition 可识别无形资产之确认标准。 criteria for identifiable intangible assets. None of the goodwill arising on the acquisitions is 预期该收购所产生的商誉不会扣 expected to be deductible for tax purposes. 税。 An analysis of the cash flows in respect of the acquisition 有关收购的现金流量之分析如下: is as follows: HK$’000 千港元 Cash consideration paid 已付现金代价 (497,674) Cash at banks and in hand 银行及手头现金 15,912 Net cash outflows 现金流出净额 (481,762) Pursuant to the equity transfer agreement, the vendor 根据股权转让协议,倘信智国际集 shall compensate the Group if the RII Group fails to 团于截至二零一九年、二零二零年 meet the aggregated guaranteed operating profit after 及二零二一年三月三十一日止年度 tax for the years ended 31 March 2019, 2020 and 2021 未能达致担保除税后经营溢利总额 with reference to a formula as stipulated in the equity (参考股权转让协议所列明公式), transfer agreement. The Group accounted for such profit 则卖方向本集团作出补偿。本集团 guarantee as contingent consideration. The fair values of 将该溢利保证列作或然代价。经参 the contingent consideration as at the date of acquisition 考独立专业合资格估值师行作出之 and 31 March 2019 were assessed to be minimal with 估值,于收购日期及二零一九年三 reference to valuation performed by an independent firm 月三十一日之或然代价之公允值被 of professionally qualified valuers. 评估为属微乎其微。 276 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 44. BUSINESS COMBINATIONS (Continued) 44. 业务合并(续) (b) Acquisition of Reliable Intelligence International (b) 收购信智国际有限公司(「信智国 Limited (“RII”) and its subsidiaries (together the “RII 际」)及其附属公司(统称「信智国际 Group”) (Continued) 集团」()续) Since the acquisition, the acquired business contributed 由于收购,已收购业务已向本集团 revenue of approximately HK$81,982,000 and profit 截至二零一九年三月三十一日止年 of approximately HK$51,681,000 to the Group’s 度贡献收益约81,982,000港元及溢 consolidated profit for the year ended 31 March 2019. 利约51,681,000港元。 The Group’s revenue and profit would have been 倘收购已于二零一八年四月一日完 increased by approximately HK$119,498,000 and 成,则本集团之期内收益及溢利 HK$69,154,000 respectively for the period if the 将分别增加约119,498,000港元及 acquisition had been completed on 1 April 2018. This 69,154,000港元。该备考资料仅 pro forma information is for illustrative purpose only and 供说明用途及并不能充分表示倘收 is not necessarily indication of revenue and results of 购已于二零一八年四月一日完成, operations of the Group that actually would have been 本集团可实际达成之收益及经营业 achieved had the acquisition been completed on 1 April 绩,亦不得用作未来业绩之预测。 2018 nor is intended for projection of future results. (c) Acquisition of Beijing Mu Tai Air Ticketing Agent (c) 收购北京沐泰航空服务有限公司 Company Limited (北京沐泰航空服务有限公司) In April 2017, the Group entered into a sale and purchase 于二零一七年四月,本集团订立 agreement for the acquisition of 70% of the equity 买卖协议,以收购北京沐泰航空 interest in Beijing Mu Tai Air Ticketing Agent Company 服务有限公司(其后改名为北京耀 Limited (北京沐泰航空服务有限公司) subsequently 莱门到门航空票务代理有限公司) renamed as Beijing Sparkle Roll Men Dao Men Airline 70%股本权益,现金购买代价约 Agency Limited (北京耀莱门到门航空票务代理有限公司), 1,221,000港 元,该公司为主要从 which is principally engaged in acting as a travel agent 事销售中国大陆机票的旅行代理 for sale of air tickets in Mainland China, at a purchase 商。 consideration of approximately HK$1,221,000 by cash. Acquisition-related costs had been excluded from the 收购相关成本已自已转让代价中扣 consideration transferred. The costs were insignificant 除。成本并不重大及已支销及计入 and had been expensed and were included in 综合全面收益表的「行政开支」中。 “administrative expenses” in the consolidated statement of comprehensive income. SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 277 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 44. BUSINESS COMBINATIONS (Continued) 44. 业务合并(续) (c) Acquisition of Beijing Mu Tai Air Ticketing Agent (c) 收购北京沐泰航空服务有限公司 Company Limited (北 京 沐 泰 航 空 服 务 有 限 公 司) (续) (Continued) The fair values of identifiable assets and liabilities of the 于收购日期已收购附属公司可识别 acquired subsidiary as at the date of acquisition were as 资产及负债的公允值如下: follows: Fair value at date of acquisition 于收购日期之公允值 HK$’000 千港元 Prepayments and other receivables 预缴款项及其他应收款项 1,689 Cash at banks and in hand 银行及手头现金 71 Accruals and other payables 应计费用及其他应付款项 (9) Total identifiable net assets at fair value 按公允值之已识别总资产净值 1,751 Non-controlling interest 非控股权益 (530) Satisfied by cash 以现金支付 1,221 The fair value of assets acquired and liabilities assumed 已收购资产及已承担负债之公允值 approximated the gross contractual amounts. 与总合约金额相若。 278 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 44. BUSINESS COMBINATIONS (Continued) 44. 业务合并(续) (c) Acquisition of Beijing Mu Tai Air Ticketing Agent (c) 收购北京沐泰航空服务有限公司 Company Limited (北 京 沐 泰 航 空 服 务 有 限 公 司) (续) (Continued) No goodwill was recognised in the acquisition as the 由于购买代价与已收购资产净值及 purchase consideration approximated to fair value of the 已承担负债公允值相若,概无就收 net assets acquired and liabilities assumed. 购事项确认商誉。 An analysis of the cash flows in respect of the acquisition 有关收购附属公司的现金流量分析 of the subsidiary is as follows: 如下: HK$’000 千港元 Cash consideration 现金代价 (1,221) Cash at banks and in hand 银行及手头现金 71 Net cash outflows 现金流出净额 (1,150) Since the acquisition, the acquired business contributed 由于收购,已收购业务向本集团截 loss of HK$366,000 to the Group’s consolidated profit 至二零一八年三月三十一日止年度 for the year ended 31 March 2018. 综合溢利贡献亏损366,000港元。 There would have been no material impact on the 倘收购已于二零一七年四月一日完 Group’s revenue and profit for the period if the 成,其对本集团期内收益及溢利无 acquisition had been completed on 1 April 2017 as the 重大影响,因为收购已于同月完 acquisition was completed in the same month. 成。 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 279 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 45. LITIGATIONS 45. 诉讼 During the year ended 31 March 2019, the Group was involved 截至二零一九年三月三十一日止年度, in two lawsuits and claims, all of which related to disputes over 本集团涉及两宗诉讼及索偿,所有诉讼 the sale and purchase agreements on automobiles with its 及索偿均涉及与其客户的汽车买卖协议 customers, and all were final and concluded. References were 纠纷,及全部均为不可推翻及已结案。 made to the Company’s announcements dated 3 October 兹提述本公司日期为二零一七年十月 2017, 17 November 2017, 19 December 2017, 3 April 2018 三日、二零一七年十一月十七日、二零 and 28 December 2018 in relation to the first litigation against 一七年十二月十九日、二零一八年四月 a subsidiary of the Company, namely Tianjin Xin Chang Tai Fu 三日及二零一八年十二月二十八日有关 Trading Development Limited* (天津信昌泰富贸易发展有限公 针对本公司附属公司天津信昌泰富贸易 司) (“TJXC”) (the “First Litigation”) and 12 October 2017, 发展有限公司(「天津信昌」)的第一项诉 17 November 2017, 29 December 2017 and 10 July 2018 in 讼(「第一项诉讼」)以及日期为二零一七 relation to the second litigation against TJXC (defined as the 年十月十二日、二零一七年十一月十七 “Third Litigation” in the Company’s announcements). 日、二零一七年十二月二十九日及二零 一八年七月十日有关针对天津信昌的第 二项诉讼(于本公司公布中界定为「第三 项诉讼」)的公布。 In respect of the First Litigation, after the retrial of the First 就第一项诉讼而言,于重新审理第一项 Litigation, the Jinghai District People’s Court of Tianjin City* 诉讼之后,天津市静海区人民法院于二 (天津市静海区人民法院) handed down a judgement on 19 零一八年三月十九日颁布判决,维持第 March 2018, which reinstated the judgement of the First 一项诉讼的判决。于二零一八年三月 Litigation. On 30 March 2018, TJXC filed an appeal application 三十日,天津信昌就上诉判决向天津市 to the First Intermediate People’s Court of Tianjin City* (天津市 第一中级人民法院呈交上诉申请。于二 第一中级人民法院) against the above appeal judgement. TJXC 零一八年十二月二十日,天津信昌与原 and the plaintiff had reached a settlement on 20 December 告人达成和解,原告人向天津市静海区 2018, the plaintiff made an application to the Jinghai District 人民法院呈交申请及裁定解除先前对天 People’s Court of Tianjin City and it was ordered that the 津信昌的冻结令。 previous freeze order against TJXC be dismissed. On the same day, the plaintiff requested for withdrawal of all 同日,应原告人请求撤销第一项诉讼中 claims in the First Litigation, the First Intermediate People’s 的所有起诉,天津市第一中级人民法院 Court of Tianjin City handed down a judgement, and ordered 颁布判决并裁定(其中包括):(1)撤销上 that, among others, (1) the appeal judgement be revoked; (2) 诉判决;(2)准许原告人撤销第一项诉讼 the plaintiff’s withdrawal of all claims in the First Litigation be 中的所有起诉;及(3)原告人承担第一项 permitted; and (3) the plaintiff shall bear the litigation fee for the 诉讼一审及二审的案件受理费。 first hearing and the retrial of the First Litigation. 280 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 45. LITIGATIONS (Continued) 45. 诉讼(续) In respect of the Third Litigation, TJXC had received a 就第三项诉讼而言,天津信昌收到天津 judgement handed down by the Jinnan District People’s Court 市津南区人民法院颁布日期为二零一七 of Tianjin City* (天津市津南区人民法院) dated 28 September 年九月二十八日的判决。于二零一七年 2017. On 12 October 2017, TJXC filed an appeal application 十月十二日,天津信昌就第三项诉讼的 to the Second Intermediate People’s Court of Tianjin City* (天 判决向天津市第二中级人民法院呈交上 津市第二中级人民法院) against the judgement of the Third 诉申请。上诉聆讯后,天津市第二中级 Litigation. After the appeal hearing, the Second Intermediate 人民法院于二零一八年七月四日颁布判 People’s Court of Tianjin City handed down a judgement on 决,以及(其中包括):(1)买卖合同已撤 4 July 2018; and held that, among others, (1) the sales and 销;(2)原告人须于判决生效后5日内退还 purchase contract is rescinded; (2) the plaintiff shall return the 天津信昌已购买的商品;(3)天津信昌须 purchased goods to TJXC within 5 days after the judgement 于判决生效后5日内向原告人支付合共人 becomes effective; (3) TJXC shall pay to the plaintiff a sum 民币8,520,000元作为损害赔偿;(4)天津 of RMB8,520,000 as liquidated damages within 5 days after 信昌须于上诉判决生效后5日内退还原告 the judgement becomes effective; (4) TJXC shall return the 人购买价合共人民币2,300,000元;及(5) purchase price in the sum of RMB2,300,000 to the plaintiff 驳回原告人于一审中提出的其他申索。 within 5 days after the appeal judgement becomes effective; and (5) the plaintiff’s other claims made in the first trial be dismissed. As advised by the Group’s PRC legal advisers, the above 据本集团中国法律顾问告知,上诉判 judgements are final and binding on the parties involved in the 决为不可推翻及对第一项及第三项诉 First and Third Litigations. The Group recorded the provision 讼牵涉的各方均具约束力。本集团就第 in other expenses of approximately HK$13 million in the 一项及第三项诉讼可能的损害赔偿于截 consolidated statement of comprehensive income for the year 至二零一八年三月三十一日止年度之综 ended 31 March 2018 in relation to the probable liquidated 合全面收入报表记录其他费用之拨备约 damages for the First and Third Litigations. The Group fully 13,000,000港元。本集团已于截至二零 settled the related expenses during the year ended 31 March 一九年三月三十一日止年度悉数结清相 2019, and the above litigations were final and concluded. 关开支,且上述诉讼已不可推翻及已结 案。 * For identification purposes only * 仅供识别 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 281 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 46. STATEMENT OF FINANCIAL POSITION OF 46. 本公司之财务状况报表 THE COMPANY 2019 2018 二零一九年 二零一八年 HK$’000 HK$’000 千港元 千港元 ASSETS AND LIABILITIES 资产及负债 Non-current assets 非流动资产 Interests in subsidiaries 于附属公司之权益 10 10 10 10 Current assets 流动资产 Amounts due from subsidiaries 应收附属公司款项 1,949,243 1,951,207 Cash at banks 银行现金 9,969 3,302 1,959,212 1,954,509 Current liabilities 流动负债 Accrued charges and other payables 应计费用及其他应付款项 1,608 1,313 Amounts due to subsidiaries 应付附属公司款项 – 42,437 1,608 43,750 Net current assets 流动资产净值 1,957,604 1,910,759 Total assets less current liabilities 总资产减流动负债 1,957,614 1,910,769 Net assets 资产净值 1,957,614 1,910,769 EQUITY 权益 Share capital 股本 9,999 9,882 Reserves 储备 1,947,615 1,900,887 1,957,614 1,910,769 Approved and authorised for issue by the board of directors on 于二零一九年六月二十八日经董事会批 28 June 2019 and signed on its behalf by: 准及授权刊发,并由以下董事代表签署: Zheng Hao Jiang Zhao Xiaodong 郑浩江 赵小东 Director Director 董事 董事 282 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 Notes to the Financial Statements (Continued) 截至二零一九年三月三十一日止年度 For the year ended 31 March 2019 46. STATEMENT OF FINANCIAL POSITION OF 46. 本公司之财务状况报表(续) THE COMPANY (Continued) Share Capital Contributed Exchange Other Accumulated premium reserve surplus reserve reserve losses Total 股份溢价 资本储备 缴入盈余 外汇储备 其他储备 累计亏损 合计 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 千港元 千港元 At1April2017 于二零一七年四月一日 1,482,243 3,508 80,130 5,874 118 (88,818) 1,483,055 Changesinequityin2018: 二零一八年权益变动: Lossfortheyear 本年度亏损 – – – – – (15,609) (15,609) Othercomprehensiveincome 其他全面收入 Shareofothercomprehensiveincome 分占一间联营公司其他全面收入 ofanassociate – – – – (5,270) – (5,270) Reclassificationadjustmentsupon 于视作出售于一间联营公司投资后 deemeddisposalofinvestment 之重新分类调整 inanassociate – – – (5,874) 5,355 – (519) Totalcomprehensiveincomefortheyear 本年度全面收入总额 – – – (5,874) 85 (15,609) (21,398) Placingofshares 配售股份 439,245 – – – – – 439,245 Reductionofsharepremium 削减股份溢价 (500,000) – 500,000 – – – – Eliminationofcontributedsurplusagainst 以缴入盈余抵销本公司累计亏损 accumulatedlossesoftheCompany – – (88,818) – – 88,818 – Shareofotherreserveofanassociate 分占一间联营公司其他储备 – – – – (15) – (15) Derecognitionofotherreservesupon 于视作出售一间联营公司后 deemeddisposalofanassociate 终止确认其他储备 – – – – (188) 188 – At31Marchand1April2018 于二零一八年三月三十一日 及四月一日 1,421,488 3,508 491,312 – – (15,421) 1,900,887 Changesinequityin2019: 二零一九年权益变动: Lossfortheyear 本年度亏损 – – – – – (21,322) (21,322) Othercomprehensiveincome 其他全面收入 – – – – – – – Totalcomprehensiveincomefortheyear 本年度全面收入总额 – – – – – (21,322) (21,322) Repurchaseofshares 回购股份 – – (84,270) – – – (84,270) Acquisitionofsubsidiaries 收购附属公司 152,320 – – – – – 152,320 At31March2019 于二零一九年三月三十一日 1,573,808 3,508 407,042 – – (36,743) 1,947,615 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司 283 RESULTS 业绩 2015 2016 2017 2018 2019 二零一五年 二零一六年 二零一七年 二零一八年 二零一九年 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 Revenue 收益 2,605,701 2,376,904 2,781,222 2,893,052 3,724,845 Profit/(loss) for the year attributable 本公司拥有人应占 to owners of the Company 本年度溢利╱(亏损) (455,685) (32,328) 87,845 664,565 97,429 ASSETS AND LIABILITIES 资产及负债 2015 2016 2017 2018 2019 二零一五年 二零一六年 二零一七年 二零一八年 二零一九年 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 千港元 千港元 Total assets 总资产 2,410,514 1,735,506 2,366,334 3,907,033 3,933,651 Total liabilities 总负债 (1,280,169) (651,780) (578,507) (883,853) (1,560,457) 1,130,345 1,083,726 1,787,827 3,023,180 2,373,194 Equity attributable to owners 本公司拥有人应占权益 of the Company 1,112,564 1,056,178 1,773,994 3,006,150 2,366,637 Non-controlling interests 非控股权益 17,781 27,548 13,833 17,030 6,557 1,130,345 1,083,726 1,787,827 3,023,180 2,373,194 284 SPARKLE ROLL GROUP LIMITED 耀莱集团有限公司