永恒策略2023年报

ANNUAL REPORT2023 Corporate Information2Chairman’s Statement4Management Discussion and Analysis8Corporate Governance Report42Environmental, Social and Governance Report66Directors’ Report125Biographical Details of Directors142Independent Auditors’ Report145Consolidated Statement of Profit or Loss and Other Comprehensive Income154Consolidated Statement of Financial Position156Consolidated Statement of Changes in Equity158Consolidated Statement of Cash Flows160Notes to the Consolidated Financial Statements163Five-Year Financial Summary400 Corporate Information公司資料 BOARD OF DIRECTORS Executive directors Mr. Lei Hong Wai(Chairman and Chief Executive Officer)Mr. Cheung Kwok Wai EltonMr. Chan Kin Wah Billy(resigned on 10 July 2023)Mr. Cheung Kwok Fan Independent non-executive directors Mr. Wan Shing ChiMr. Ng Heung YanMr. Wong Tak ChuenMs. Leung Man Yee Fanny(appointed on 28 December 2023) COMPANY SECRETARY Mr. Chan Kin Wah Billy AUDIT COMMITTEE Mr. Wong Tak Chuen(Chairman)Mr. Wan Shing ChiMr. Ng Heung YanMs. Leung Man Yee Fanny(appointed on 28 December 2023) REMUNERATION COMMITTEE Mr. Ng Heung Yan(Chairman)Mr. Lei Hong WaiMr. Wan Shing ChiMs. Leung Man Yee Fanny(appointed on 28 December 2023) NOMINATION COMMITTEE Mr. Lei Hong Wai(Chairman)Mr. Wan Shing ChiMr. Ng Heung YanMs. Leung Man Yee Fanny(appointed on 28 December 2023) FINANCE COMMITTEE Mr. Cheung Kwok Wai Elton(Chairman)(appointed on 10 July 2023)Mr. Chan Kin Wah Billy(resigned on 10 July 2023)Mr. Wong Tak Chuen REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPAL PLACEOF BUSINESS 168-2001211 Unit 1211Shun Tak Centre, West Tower168 – 200 Connaught Road CentralHong Kong PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Standard LimitedShare Registration Public Office17/F, Far East Finance Centre16 Harcourt RoadHong Kong AUDITORS HLB Hodgson Impey Cheng LimitedCertified Public Accountants PRINCIPAL BANKERS DBS Bank (Hong Kong) LimitedHang Seng Bank Limited STOCK CODE 764 764 www.eternityinv.com.hk WEBSITE www.eternityinv.com.hk billy@eternityinv.com.hk E-MAIL ADDRESS billy@eternityinv.com.hk Chairman’s Statement主席報告 To our shareholders 275,150,0001%(i)59,140,000(ii)22,980,000(iii)14,220,000(iv)19,120,00028,840,000(i)58,860,000(ii)34,280,000(iii)4,170,0009,850,000(iv)33,450,000 In 2023, we reported a loss attributable to owners ofthe Company of HK$275.15 million, a 1% increasecompared to last year. This increase in loss attributableto owners of the Company was mainly attributable to(i) a HK$59.14 million decrease in gain on disposals ofresidential serviced apartments under long-term leaseagreements treated as finance leases, (ii) a HK$22.98m i l l i o n i n c re a s e i n i m p a i r m e n t l o s s i n re s p e c t o fgoodwill, (iii) a HK$14.22 million increase in the shareof losses of associates, and (iv) the recognition of anincome tax expense of HK$19.12 million, in contrastto an income tax credit of HK$28.84 million in lastyear, which were partly offset by (i) a HK$58.86 milliondecrease in the loss arising on a change in the fair valueof financial assets at fair value through profit or loss(“FVTPL”), (ii) a HK$34.28 million decrease in allowancefor expected credit losses (“ECL”) on loan receivables,(iii) the recognition of the trading gain of HK$4.17 millionfor the sale of financial assets, in contrast with thetrading loss of HK$9.85 million in last year, and (iv) therecognition of a one-off gain of HK$33.45 million on themodification of the terms of the guaranteed securednotes due 2023. 6,510,00092%4,170,0009,850,00058,860,000 We re p o r t e d a s e g m e n t l o s s ( b e f o re t a x a t i o n ) o fHK$6.51 million for our sale of financial assets businessin 2023, a 92% improvement compared to last year.The improvement in segment results was mainly due tothe recognition of the trading gain of HK$4.17 millionin 2023, in contrast to the trading loss of HK$9.85million last year and a HK$58.86 million decrease in theloss arising on change in fair value of financial assetsat FVTPL. As we expect the global macroeconomicenvironment to remain uncertain in 2024, we willcautiously monitor the equity market, adjust our equitysecurities portfolio from time to time, and realise ourequity securities into cash as and when appropriate. 124,120,000148,850,00017%17%34,282,00014,390,000 Our money lending business reported a segment loss(before taxation) of HK$124.12 million in 2023, a 17%improvement from HK$148.85 million last year. This17% improvement in segment results was mainly dueto a HK$34.28 million decrease in allowance for ECL onloan receivables, which was partly offset b