貿易通 2021 年年報

Management Discussion and Analysis (Continued) 管理層討論及分析（續） 28 Tradelink Electronic Commerce Limited Annual Report 2021 財務回顧（續） 利息收入於二零二一年下跌 68.0% 至港幣 3,300,000 元，主要由於大筆企業債券投資於二零二零年及二 零二一年轉至全權委託單一債券投資組合及投資基 金，導致透過其他全面收益按公允價值（「 FVOCI 」） 計量的企業債券產生的利息收入減少。該等財務資 產透過損益按公允價值（「 FVPL 」）計量，其所有收入 及支出均於「其他收入╱虧損淨額」項下呈報。 我們於二零二零年錄得其他收入淨額港幣 6,100,000 元，於二零二一年則錄得其他虧損淨額港幣 9,600,000 元，主要由於兩個因素。其一，我們於二 零二零年收取政府保就業計劃港幣 13,000,000 元的 補助，於二零二一年則不再獲授任何有關補助。其 二，主要由於瑞銀債券基金投資價格波動，透過損 益按公允價值計量的財務資產於二零二一年錄得公 允價值虧損港幣 6,300,000 元（有關投資於二零二零 年則錄得收益港幣 2,300,000 元），惟部分被出售企 業債券的虧損淨額減少（於二零二一年確認出售虧 損港幣 4,800,000 元）所抵銷。 由於透過其他全面收益按公允價值計量的財務資 產減少，於二零二一年出售企業債券及企業債券 到期時撥回減值虧損撥備（即預期信貸虧損）港幣 1,900,000 元。 本集團於二零二一年的經營溢利為港幣 87,100,000 元，較二零二零年減少港幣 5,600,000 元。若撇除 二零二零年所收取保就業計劃補貼的其他收入港幣 13,000,000 元，二零二一年的經營溢利較二零二零 年增加港幣 7,400,000 元或 9.2% 。 本集團於二零二一年繼續分佔其聯營公司南方的 虧損。二零二一年的應佔虧損由二零二零年的港 幣 1,400,000 元增至港幣 1,900,000 元。年內，本集 團審閱了於南方的投資，並就有關投資計提減值 虧損撥備港幣 800,000 元，而二零二零年則為港幣 9,000,000 元。 Financial Review (Continued) Interest income for 2021 was HK$3.3 million, dropped by 68.0% mainly due to the drop in interest income generated from corporate bonds measured at fair value through other comprehensive income (“FVOCI”) with the switching of a significant portion of the investment in corporate bonds to a discretionary single bonds portfolio and investment funds during 2020 and 2021. These financial assets are measured at fair value through profit or loss (“FVPL”) with all their income and expenses reported under “other net income/loss”. The other net income of HK$6.1 million in 2020 turned to other net loss of HK$9.6 million in 2021 mainly due to two factors. First, in 2021, there was the lack of the funding support from the ESS of HK$13.0 million, which we received in 2020. Second, the volatilities in the investment in UBS bond funds mainly accounted for a fair value loss of HK$6.3 million on financial assets measured aft FVPL recorded in 2021 as compared to a gain of HK$2.3 million in 2020 of the investments, which was partly offset by a reduction in net loss on disposal of corporate bonds with the loss on disposal recognised as HK$4.8 million in 2021. As a result of the decrease in financial assets measured at FVOCI, a reversal of the provision for impairment loss (i.e. expected credit loss) of HK$1.9 million was recorded upon the disposal and maturity of the corporate bonds during 2021. The Group’s profit from operations in 2021 was HK$87.1 million, a decrease of HK$5.6 million as compared to 2020. If excluding the other income of HK$13.0 million from the ESS subsidy received in 2020, the operating profit in 2021 would have been increased by HK$7.4 million or 9.2% year-on-year. In 2021, the Group continued to share losses from its associate, Nanfang. The share of loss increased to HK$1.9 million as compared to HK$1.4 million in 2020. During the year, a review of the investment in Nanfang resulted in a provision of HK$0.8 million, as compared to HK$9.0 million in 2020, for impairment loss on this investment.