Financial Statements for the Year Ended 30 June 2012

Abstract

[evdate 2012-06-30] The Hong Kong University of Science and Technology 香港科技大學 Financial Statements 財務報表 For the Year ended 30 June 2012 截至2012年6月30日止年度 司庫報告…………………………………………………………………………………………………… 1 - 3 Treasurer's Report 獨立核數師報告…………………………………………………………… ……………………………….. 4 - 5 Independent Auditor's Report …………………………………………………………………………………………….. 6 - 7 Consolidated Statement of Comprehensive Income 綜合資產負債表 …………………………………………………………………………………………….. 8 - 9 Consolidated Balance Sheet 綜合資金變動表…………………………………………………………………………………………….. 10 - 11 Consolidated Statement of Changes in Fund Balances 綜合現金流動表…………………………………………………………………………………………….. 12 - 13 Consolidated Statement of Cash Flows 財務報表附註 ……………………………………………………………………………………………….14 - 56 Notes to the Financial Statements 1. 一般資料General Information 2. 編制基準Basis of Preparation 3. 分部資料Segment Information 3.1 政府資助及撥款Government Subventions and Grants 3.2 利息及投資收入Interest and Investment Income 3.3 輔助服務及其他收入Auxiliary Services and Other Income 4. 高收入員工薪酬Remuneration of Higher Paid Staff 5. 稅項Taxation 6. 物業、機器及設備Property, Plant and Equipment 7. 無形資產Intangible Assets 8. 財務資產Financial Assets 9. 於聯營公司權益Interest in an Associate 10. 於合資企業權益Interest in a Joint Venture 11. 應收賬款及預付款項Accounts Receivable and Prepayments 12. 現金及等同現金Cash and Cash Equivalents 13. 應付賬款及應計費用Accounts Payable and Accruals 14. 教職員福利撥備Provision for Staff Benefits 15. 遞延收益Deferred Income 16. 資本儲備Capital Reserves 17. 教資會整筆撥款儲備 18. 所得捐款及配對撥款儲備 19. 財務風險管理Financial Risk Management 20. 承擔Commitments 21. 關聯方交易Related Party Transactions 22. 附屬公司 23. 主要會計估計及判斷Critical Accounting Estimates and Judgements 24. 主要會計政策Principal Accounting Policies 25. 已公佈但尚未生效的新準則、Possible Impact of new Standards, interpretations and 詮釋和修訂的潛在影響amendments published that are not yet effective UGC Block Grant Reserves Donations and Matching Grants Reserves Subsidiaries 目錄 CONTENTS 綜合全面收益表

概況OVERVIEW 綜合收入及開支 Consolidated expenditure for the year rose to $3,020 million ($2,681 million for 2010/11). The increase included the upward general adjustment in salaries, additional staffing and other spending for the preparation of the new UG System, as well as corresponding increases in expenditure for the expanded self-financing programs and other activities. 本年度綜合開支增至3,020,000,000 元 (2010/11年度為2,681,000,000元)。增幅包括 薪金上調，增聘員工，及其他因準備新學 制及擴充自負盈虧課程及其他活動而相應 增加的開支。 Consolidated income for the year decreased to $2,916 million ($3,186 million for 2010/11) mainly due to the above-mentioned decrease in investment returns; but partly offset by a growth in tuition fees, mostly from self-financing programs. 司庫報告 TREASURER'S REPORT 剛過去的一年，全球經濟，特別是歐元區 國家增長十分緩慢，財政困境持續。受此 複雜而波動的市場環境影響下，基金經理 所管理的投資組合公允值大為下降，導致 大學利息及投資方面的回報大幅縮減至 19,000,000 元(2010/11 年度為343,000,000 元)。此外，為將於來年實施的四年新學制 作最後的準備更添較多的額外開支，大學 2011/12 年錄得綜合虧損101,000,000 元 (2010/11年度為509,000,000元盈餘)。 For the year just ended, the global economy was marked by slackened economic growth and continuation of the financial woes especially in the Eurozone countries. Under such a complex and volatile market environment, the University suffered a sizeable reduction in interest and investment returns to $19 million ($343 million for 2010/11), mainly due to a drop in the fair value of the investment portfolio managed by fund managers. Coupled with the higher final-year preparation costs for launching of the new 4- year Undergraduate (UG) System in the coming year, the University recorded a consolidated deficit of $101 million for 2011/12 (surplus of $509 million for 2010/11). CONSOLIDATED INCOME AND EXPENDITURE 基於上述投資回報的縮減，本年度綜合收 入減至2,916,000,000 元(2010/11 年度為 3,186,000,000元)，但部分減幅被主要來自 自負盈虧課程的學費收入上升所抵銷。 1 分部結果SEGMENT RESULTS 持續進修教育活動，研究活動及其他活動 所得捐款及有關活動Donations and Related Activities 部分承諾捐款因要配合即將推出的新一輪 政府配對撥款計劃而被遞延，加上2011/12 年度投資表現欠佳，此分部錄得虧損達 47,000,000元(2010/11年度為233,000,000元盈 餘，包括129,000,000元由教資會發放的上 一輪之配對撥款）。以上數據表明分部的 結果會受該年政府配對撥款的影響而波 動。若在大學其他經常性活動分部中剔除 捐款活動分部的營運結果，綜合營運結果 的變動將下降至330,000,000元(2011/12年度 為54,000,000 元虧損， 2010/11 年度為 276,000,000 元盈餘） ， 而非原有的 610,000,000元(2011/12年度為101,000,000元 虧損， 2010/11 年度為509,000,000 元盈 餘）。 While the operation of self-financing CPEP activities continued to expand and contribute surplus to the University, other income from research activities was slightly reduced. Intensified by the decrease in investment returns, the overall surplus of these operating segments dropped to $99 million ($215 million for 2010/11). With a number of pledged donations deferred pending the launch of a new round of Government Matching Grant Scheme (MGS); and with the unfavorable investment returns in 2011/12, the segment suffered a deficit of $47 million (surplus of $233 million for 2010/11, $129 million of which was matching grant received from UGC under the previous round of MGS). This illustrated how the segment results would fluctuate with or without a MGS in operation during a financial year. Had the operating results of the donation activities segment been removed from the other segments which housed the otherwise recurrent activities of the University, the variance in the consolidated operating result would be reduced to $330 million (deficit of $54 million for 2011/12 vs surplus of $276 million for 2010/11) instead of $610 million (deficit of $101 million for 2011/12 vs surplus of $509 million for 2010/11). 教育資助委員會(「教資會」)整筆撥款資 助之活動 University Grants Committee ('UGC') Block Grant funded Activities 153,000,000元之虧損乃在批核的預算之內 ，並由過去數年為配合來年實施四年新學 制而累積的綜合發展儲備所支付。 The deficit of $153 million was within the approved budget plan. It was covered by the General and Development Reserve which had been built up during the past few years for meeting the anticipated final year draw-down preparing for the 4-year UG System to be launched in the coming year. Self-Financing Continuing Professional Education Programs ('CPEP'), Research and Other Activities 雖然持續進修教育課程將持續發展並為大 學增添收入，但其他研究活動的收入則輕 微下降。加上投資回報下降，這些營運分 部的總盈餘降至99,000,000元(2010/11年度 為215,000,000元)。 2 資本支出CAPITAL EXPENDITURE 展望OUTLOOK 大學司庫John B. HARRISON 夏理遜Treasurer of the University 2012年9月21日21 September 2012 隨著企業資源計劃系統的全面啟用，加上 數個將於幾個月後完工的建築項目，大學 已為即將在秋季實施的雙組本科生做好充 足的準備。 With the full implementation of the Enterprise Resources Planning system and near completion of several capital construction projects in a few months' time, the University is ready to take on the challenge of the launch of the double UG cohorts in the coming fall. 預期世界各國，特別是歐元區國家的經濟 困境仍將持續，管理層預計大學將要繼續 面對不穩定的宏觀經濟及金融市場環境所 帶來的挑戰。 It is generally anticipated that global financial woes, especially in the Eurozone, will remain unresolved. Management foresees that the University will still be confronted with challenges posed by the unstable macro economic and financial markets environment. Construction projects, including the Lee Shau Kee Business Building and Institute for Advanced Study Academic Building are nearly completed and targeted for occupancy in the last quarter of 2012. The new hostel with 700 student places is progressing on schedule and is expected to be completed before the end of 2012. The University has withdrawn from the off-campus joint student hostel project in Ma On Shan; for replacement, an on-campus site will be selected for building a new student hostel with 1,200 accommodation places. Other in-progress construction projects include the additional teaching and research facilities, and the other off-campus joint student hostel in Tseung Kwan O. 於2012年6月30日，已批准之建築項目及其 他資本項目的資本承擔達1,851,000,000元。 當中，1,183,000,000元來自已獲批准但未收 之教資會撥款，67,000,000元來自承諾捐款 ，其餘來自大學現有儲備及遞延收益。 As at 30 June 2012, the total commitments for the approved construction projects and other capital items amounted to $1,851 million. Of which, $1,183 million will be supported by approved but yet to be received UGC grants, $67 million by pledged donations and the rest by HKUST's reserves and deferred income on hand. 李兆基商學大樓及科大高等研究院學術大 樓之建築項目已接近完工，可望於2012年 最後一季啟用。此外，可提供700個宿位的 新建學生宿舍亦正按計劃施工並預計於 2012年底前完工。大學將在校內選址興建 一所可提供1,200個宿位的學生宿舍，以取 代經已退出位於馬鞍山的校外合辦宿舍項 目。其它進行中的建築項目還包括新增教 學及研究設施，以及另一位於將軍澳的校 外合辦學生宿舍。 3 致 ：香港科技大學校董會To : 校董會就綜合財務報表須承擔的責任 核數師的責任Auditor's responsibility The Council of the University is responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants, and for such internal control as the Council determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. 貴校董會須負責根據香港會計師公會頒佈的香 港財務報告準則編製綜合財務報表，以令綜合 財務報表作出真實而公平的反映，及落實其認 為編製綜合財務報表所必要的內部控制，以使 綜合財務報表不存在由於欺詐或錯誤而導致的 重大錯誤陳述。 我們的責任是根據我們的審計對該等綜合財務 報表作出意見，並僅向校董會（作為整體）報 告，除此之外本報告別無其他目的。我們不會 就本報告的內容向任何其他人士負上或承擔任 何責任。 Our responsibility is to express an opinion on these consolidated financial statements based on our audit and to report our opinion solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. The Council's responsibility for the consolidated financial statements 本核數師(以下簡稱「我們」)已審計列載於第6 至56頁香港科技大學(「大學」)及其附屬公司 (以下合稱「集團」)的綜合財務報表，此綜合財 務報表包括於2012年6月30日的綜合資產負債表 與截至該日止年度的綜合全面收益表、綜合資 金變動表和綜合現金流動表，以及主要會計政 策概要及其他附註解釋資料。 獨立核數師報告 INDEPENDENT AUDITOR'S REPORT We have audited the consolidated financial statements of The Hong Kong University of Science and Technology (the 'University') and its subsidiaries (together, the 'Group') set out on pages 6 to 56, which comprise the consolidated balance sheet as at 30 June 2012, and the consolidated statement of comprehensive income, the consolidated statement of changes in fund balances and the consolidated statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information. The Council of The Hong Kong University of Science and Technology 4 意見Opinion 羅兵咸永道會計師事務所PricewaterhouseCoopers 執業會計師Certified Public Accountants 香港，2012年9月21日Hong Kong, 21 September 2012 We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. In our opinion, the consolidated financial statements give a true and fair view of the state of affairs of the Group as at 30 June 2012, and of the results and cash flows of the Group for the year then ended in accordance with Hong Kong Financial Reporting Standards. 我們相信，我們所獲得的審計憑證能充足和適 當地為我們的審計意見提供基礎。 我們認為，該等綜合財務報表已根據香港財務 報告準則真實而公平地反映貴集團於2012年6 月30日的事務狀況，及截至該日止年度貴集 團的業績及現金流量。 審計涉及執行程序以獲取有關綜合財務報表所 載金額及披露資料的審計憑證。所選定的程序 取決於核數師的判斷，包括評估由於欺詐或錯 誤而導致綜合財務報表存在重大錯誤陳述的風 險。在評估該等風險時，核數師考慮與該公司 編製綜合財務報表以作出真實而公平的反映相 關的內部控制，以設計適當的審計程序，但目 的並非對公司內部控制的有效性發表意見。審 計亦包括評價校董會所採用會計政策的合適性 及作出會計估計的合理性，以及評價綜合財務 報表的整體列報方式。 We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation of consolidated financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Council, as well as evaluating the overall presentation of the consolidated financial statements. 我們已根據香港會計師公會頒佈的香港審計準 則進行審計。該等準則要求我們遵守道德規範 ，並規劃及執行審計，以合理確定綜合財務報 表是否不存在任何重大錯誤陳述。 5 2012 2011 附註百萬元百萬元 Notes $million $million 收入 Income 政府資助及撥款3.1 1,687 1,701 Government Subventions and Grants 學費、課程及其他收費739 672 Tuition, Programmes and Other Fees 淨利息及投資收入3.2 19 343 Interest and Investment Income, net 外界捐款27 39 Donations and Benefactions 輔助服務及其他收入3.3 276 281 Auxiliary Services and Other Income 轉撥自資本儲備16 / 24.15 168 150 Transfers from Capital Reserves 2,916 3,186 開支3 Expenditure 學術及研究 Learning and Research 教學及研究1,924 1,754 Instruction and Research 圖書館87 79 Library 中央電腦設備96 80 Central Computing Facilities 其他教學服務70 55 Other Academic Services 2,177 1,968 校務支援 Institutional Support 管理及一般事務170 155 Management and General 校舍及有關費用476 387 Premises and Related Expenses 學生及一般教育服務166 140 Student and General Education Services 其他活動31 31 Other Activities 843 713 3,020 2,681 本年度營運(虧損) / 盈餘(104) 505 (Deficit) / Surplus from operation for the year 綜合全面收益表 截至2012年6月30日止年度 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2012 6 2012 2011 附註百萬元百萬元 Notes $million $million 所佔聯營公司的經營業績9 3 4 Share of Result of an Associate 本年度稅前(虧損) / 盈餘(101) 509 (Deficit) / Surplus for the year before taxation 稅項5 0 0 Taxation 本年度稅後(虧損) / 盈餘(101) 509 (Deficit) / Surplus for the year after taxation 年內之其他全面(虧絀) / 收益 Other comprehensive (loss) / income for the year 於可供出售財務資產未實現之(虧絀) / 盈利(2) 3 轉撥自資本儲備至綜合全面收益表16 / 24.14 (168) (150) 外幣換算之差額2 10 Exchange differences arising from retranslation 於聯營公司所佔法定儲備之變動0 1 (168) (136) 年內全面(虧絀) / 收益總額(269) 373 Total comprehensive (loss) / income for the year 轉撥至 / (自)： Transfers to / (from): 資本儲備(167) (145) Capital Reserves (153) 61 所得捐款及配對撥款儲備(48) 236 Donations and Matching Grants Reserves 其他儲備101 218 Other Reserves 投資重估儲備(2) 3 Investment Revaluation Reserve (269) 373 截至2012年6月30日止年度 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Cont'd) FOR THE YEAR ENDED 30 JUNE 2012 綜合全面收益表(續) University Grants Committee ('UGC') Block Grant Reserves Unrealised (loss) / gain on Available-for-Sale Financial Assets Transfer from Capital Reserves to consolidated statement of comprehensive income Change in share of statutory reserves of an Associate 大學教育資助委員會(「教資會」)整筆撥款儲備 7 2012 2011 附註百萬元百萬元 Notes $million $million 非流動資產 Non-Current Assets 物業、機器及設備6 4,030 3,617 Property, Plant and Equipment 無形資產7 49 47 Intangible Assets 持至到期日財務資產8 1,019 1,423 Held-to-Maturity Financial Assets 可供出售財務資產8 17 19 Available-for-Sale Financial Assets 按公平值透過損益記賬之財務資產8 2,368 1,656 Financial Assets at Fair Value through Profit or Loss 於聯營公司權益9 59 57 Interest in an Associate 於合資企業權益10 0 0 Interest in a Joint Venture 到期日超過一年之定期存款60 198 Bank Deposits with Maturity over One Year 7,602 7,017 流動資產 Current Assets 持至到期日財務資產8 407 204 Held-to-Maturity Financial Assets 存貨1 1 Inventories 應收賬款及預付款項11 267 234 Accounts Receivable and Prepayments 原到期日超過三個月之定期存款534 759 Bank Deposits with Original Maturity over Three Months 現金及等同現金12 739 967 Cash and Cash Equivalents 1,948 2,165 流動負債 Current Liabilities 應付賬款及應計費用13 470 323 Accounts Payable and Accruals 教職員福利撥備14 122 98 Provision for Staff Benefits 遞延收益15 622 701 Deferred Income 應付稅項2 2 Tax Payable 1,216 1,124 流動資產淨值732 1,041 Net Current Assets 資產總值減流動負債8,334 8,058 Total Assets Less Current Liabilities 綜合資產負債表 2012年6月30日 CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2012 2012 2011 附註百萬元百萬元 Notes $million $million 非流動負債 Non-Current Liabilities 教職員福利撥備14 16 14 Provision for Staff Benefits 資產淨值8,318 8,044 NET ASSETS 資本儲備16 4,079 3,664 Capital Reserves 教資會整筆撥款儲備17 967 1,110 UGC Block Grant Reserves 所得捐款及配對撥款儲備18 2,065 2,135 Donations and Matching Grants Reserves 其他儲備1,204 1,130 Other Reserves 投資重估儲備3 5 Investment Revaluation Reserve 資金總額8,318 8,044 TOTAL FUNDS 校董會於2012年9月21日核准本財務報表 Approved by the Council on 21 September 2012 大學司庫 John B. HARRISON Treasurer of the University Philip S.P. WONG Associate Vice-President for Administration and Business and Director of Finance 黃世邦 協理副校長(行政)及財務處處長 Tony F. CHAN President 綜合資產負債表(續) 2012年6月30日 校長 陳繁昌 CONSOLIDATED BALANCE SHEET (Cont'd) 夏理遜 AS AT 30 JUNE 2012 9 所得捐款及 配對撥款儲備 投資重估儲備 資本儲備其他儲備 資金總額 Total Funds 百萬元百萬元百萬元百萬元百萬元百萬元 $million $million $million $million $million $million (附註16) (附註17) (附註18) (Note 16) (Note 17) (Note 18) 2011年7月1日之結餘3,664 1,110 2,135 1,130 5 8,044 Balance as at 1 July 2011 年內全面收益 / (虧絀)總額 Total comprehensive income / (loss) for the year 本年度稅後(虧損) / 盈餘0 (153) (47) 99 0 (101) (Deficit) / Surplus for the year after taxation 其他全面收益 / (虧絀) Other comprehensive income / (loss) 於可供出售財務資產未實現之虧絀0 0 0 0 (2) (2) Unrealised loss on Available-for-Sale Financial Assets 轉賬至綜合全面收益表(168) 0 0 0 0 (168) 外幣換算之差額1 0 (1) 2 0 2 Exchange differences arising from retranslation (167) (153) (48) 101 (2) (269) 轉撥自遞延收益543 0 0 0 0 543 Transfer from Deferred Income 其他資金轉撥0 0 13 (13) 0 0 Other inter-fund transfer 與資本支出有關之資金轉撥(附註16 / 24.14) 相當於添置物業、機器及設備及無形資產之款項84 (6) (44) (34) 0 0 相當於折舊及攤銷之款項(45) 16 9 20 0 0 39 10 (35) (14) 0 0 2012年6月30日之結餘4,079 967 2,065 1,204 3 8,318 Balance as at 30 June 2012 Amounts equivalent to depreciation and amortisation charges Inter-fund transfer in connection with capital expenditure (Notes 16 / 24.14) Donations and Matching Grants Reserves 教資會整筆撥款 儲備 Transfer to consolidated statement of comprehensive income Amounts equivalent to additions to Property, Plant and Equipment and Intangible Assets 綜合資金變動表 CONSOLIDATED STATEMENT OF CHANGES IN FUND BALANCES Capital Reserves Other Reserves Investment Revaluation Reserve FOR THE YEAR ENDED 30 JUNE 2012 截至2012年6月30日止年度 UGC Block Grant Reserves 10 所得捐款及 配對撥款儲備 投資重估儲備 資本儲備其他儲備 資金總額 Total Funds 百萬元百萬元百萬元百萬元百萬元百萬元 $million $million $million $million $million $million (附註16) (附註17) (附註18) (Note 16) (Note 17) (Note 18) 2010年7月1日之結餘3,494 1,039 1,916 958 2 7,409 Balance as at 1 July 2010 年內全面收益 / (虧絀)總額 Total comprehensive income / (loss) for the year 本年度稅後盈餘0 61 233 215 0 509 Surplus for the year after taxation 其他全面收益 Other comprehensive income 於可供出售財務資產未實現之盈利0 0 0 0 3 3 Unrealised gain on Available-for-Sale Financial Assets 轉賬至綜合全面收益表(150) 0 0 0 0 (150) 外幣換算之差額5 0 3 2 0 10 Exchange differences arising from retranslation 於聯營公司所佔法定儲備之變動0 0 0 1 0 1 Change in share of statutory reserves of an Associate (145) 61 236 218 3 373 轉撥自遞延收益262 0 0 0 0 262 Transfer from Deferred Income 與資本支出有關之資金轉撥(附註16 / 24.14) 相當於添置物業、機器及設備及無形資產之款項98 (10) (25) (63) 0 0 相當於折舊及攤銷之款項(45) 20 8 17 0 0 53 10 (17) (46) 0 0 2011年6月30日之結餘3,664 1,110 2,135 1,130 5 8,044 Balance as at 30 June 2011 Amounts equivalent to depreciation and amortisation charges Inter-fund transfer in connection with capital expenditure (Notes 16 / 24.14) Transfer to consolidated statement of comprehensive income FOR THE YEAR ENDED 30 JUNE 2012 Donations and Matching Grants Reserves Amounts equivalent to additions to Property, Plant and Equipment and Intangible Assets UGC Block Grant Reserves 教資會整筆撥款 儲備Investment Revaluation Reserve Other Reserves Capital Reserves CONSOLIDATED STATEMENT OF CHANGES IN FUND BALANCES (Cont'd) 截至2012年6月30日止年度 綜合資金變動表(續) 11 2012 2011 百萬元百萬元 $million $million 營運活動之現金流量 Cash Flows from Operating Activities 本年度稅前(虧損) / 盈餘(101) 509 (Deficit) / Surplus for the year before taxation 調整: Adjustments for: 折舊及攤銷213 195 Depreciation and Amortisation 壞賬沖銷1 0 Bad debt written off 淨利息及投資收入(19) (343) Interest and Investment Income, net 持至到期日財務資產(折扣) / 溢價攤銷(3) 4 Amortisation of (discount) / premium on Held-to-Maturity Financial Assets 所佔聯營公司的經營業績(3) (4) Share of results of an Associate 轉撥自資本儲備(168) (150) Transfers from Capital Reserves 未計運作資本之變動前之營運現金流量(80) 211 Operating cash flow before movements in working capital 應收賬款及預付款項之增加(38) (94) Increase in Accounts Receivable and Prepayments 應付賬款及應計費用之增加 / (減少) 52 (24) Increase / (Decrease) in Accounts Payable and Accruals 遞延收益之(減少) / 增加(79) 5 (Decrease) / Increase in Deferred Income 教職員福利撥備之增加26 6 Increase in Provision for Staff Benefits 營運活動淨現金(流出) / 流入(119) 104 Net Cash (Used in) / Generated from Operating Activities 綜合現金流動表 截至2012年6月30日止年度 CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2012 12 2012 2011 百萬元百萬元 $million $million 投資活動之現金流量 Cash Flows from Investing Activities 購買物業、機器及設備(546) (300) Payment for purchase of Property, Plant and Equipment 購買無形資產(20) (14) Payment for purchase of Intangible Assets 原到期日超過三個月之定期存款之減少363 1,084 Decrease in Bank Deposits with Original Maturity over Three Months 購買持至到期日財務資產(5) (1,208) Purchase of Held-to-Maturity Financial Assets 購買按公平值透過損益記賬之財務資產(846) (516) Purchase of Financial Assets at Fair Value through Profit or Loss 從持至到期日財務資產所得之贖回收入207 153 Proceeds from redemption of Held-to-Maturity Financial Assets 出售可供出售財務資產之收入0 1 Proceeds from sale of Available-for-Sale Financial Assets 出售按公平值透過損益記賬之財務資產之收入109 0 Proceeds from sale of Financial Assets at Fair Value through Profit or Loss 已收取之利息及投資收入86 76 Interest and investment income received 投資活動淨現金流出(652) (724) Net Cash Used in Investing Activities 融資活動之現金流量 Cash Flows from Financing Activities 用以購買物業、機器及設備及無形資產之資助及撥款或捐款收入543 262 融資活動淨現金流入543 262 Net Cash Generated from Financing Activities 現金及等同現金之淨減少(228) (358) Net Decrease in Cash and Cash Equivalents 年初之現金及等同現金967 1,324 Cash and Cash Equivalents at the Beginning of the Year 匯兌變動之影響0 1 Effect of Foreign Exchange Rate Changes 年終之現金及等同現金739 967 Cash and Cash Equivalents at the End of the Year Subventions and Grants or donations received for purchase of Property, Plant and Equipment and Intangible Assets CONSOLIDATED STATEMENT OF CASH FLOWS (Cont'd) FOR THE YEAR ENDED 30 JUNE 2012 綜合現金流動表(續) 截至2012年6月30日止年度 13 1. 一般資料1. GENERAL INFORMATION 2. 編制基準2. BASIS OF PREPARATION 大學之財務報表已另外編制。 綜合財務報表附註 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS The Hong Kong University of Science and Technology is incorporated under The Hong Kong University of Science and Technology Ordinance (Chapter 1141, Laws of Hong Kong) as a technological university dedicated to the advancement of learning and scholarship, with special emphasis on research, postgraduate education, and close collaboration with business and industry. The principal activities and other particulars of the University's subsidiaries are set out in note 22. 香港科技大學是在香港科技大學條例 (香港法例第一一四一章)下成立，為一 間科學技術的大學，專注促進學習及 學術，並特別在學術研究、研究生教 育方面加以重視，以及與商業和工業 界緊密合作。大學的附屬公司的主要 活動及其他事項詳列於附註22內。 編制符合香港財務報告準則的綜合財 務報表需要使用若干關鍵的會計估算 ，亦需要管理層在應用集團會計政策 的過程中運用其判斷。有關涉及高度 的判斷或高度複雜性的範疇，又或綜 合財務報表中需作重要假設及估算的 範疇，已於附註23中披露。 The preparation of consolidated financial statements in conformity with HKFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements, are disclosed in note 23. 大學之註冊地址及主要營運地點為香 港清水灣。 The University's registered address and principal place of operation is Clear Water Bay, Hong Kong. The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of Available-for-Sale Financial Assets and Financial Assets at Fair Value through Profit or Loss which are carried at fair value. 綜合財務報表乃按歷史成本法編制， 並對可供出售財務資產以及按公平值 透過損益記賬財務資產之公平值重估 而作出修訂。 綜合財務報表乃依據香港會計師公會 頒佈之香港財務報告準則所編制。 These consolidated financial statements are presented in Hong Kong dollars ('HKD'), which is the Group's presentation currency. These consolidated financial statements have been approved for issue by the Council on 21 September 2012. The consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ('HKFRS') issued by the Hong Kong Institute of Certified Public Accountants ('HKICPA'). 綜合財務報表以港元呈覽，港元亦為 本集團之呈報貨幣。本大學校董會於 2012年9月21日核准此綜合財務報表刊 發。 Financial statements for the University have been prepared separately. 14 3. 分部資料 SEGMENT INFORMATION (a) 綜合分部收支(按性質) Consolidated Segment Income and Expenditure (By nature) 非整筆撥款非整筆撥款 教資會自負盈虧之資助之教資會自負盈虧之資助之 整筆撥款持續進修科研活動整筆撥款持續進修科研活動 資助活動教育活動分部間之資助活動教育活動分部間之 交易抵銷交易抵銷 其他活動其他活動 小計總計淨總計小計總計淨總計 Sub-total Total Net Total Sub-total Total Net Total 百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元 $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million 收入 Income 政府資助及撥款(附註3.1) 1,386 0 174 126 1,686 1 1,687 0 1,687 1,322 0 181 69 1,572 129 1,701 0 1,701 學費、課程及其他收費361 378 0 0 739 0 739 0 739 344 328 0 0 672 0 672 0 672 淨利息及投資收入(附註3.2) (1) 0 0 5 4 15 19 0 19 115 0 0 82 197 146 343 0 343 Interest and Investment Income, net (Note 3.2) 外界捐款0 0 0 0 0 27 27 0 27 0 0 0 0 0 39 39 0 39 Donations and Benefactions 輔助服務及其他收入(附註3.3) 33 8 92 132 265 11 276 0 276 30 4 102 132 268 13 281 0 281 轉撥自資本儲備69 0 21 37 127 41 168 0 168 53 0 21 34 108 42 150 0 150 間接費用收回 / 分部間之收入25 4 0 114 143 1 144 (144) 0 22 6 0 95 123 0 123 (123) 0 Overhead Recovery / Inter-segment Income 1,873 390 287 414 2,964 96 3,060 (144) 2,916 1,886 338 304 412 2,940 369 3,309 (123) 3,186 開支 Expenditure 薪金及福利1,432 81 111 130 1,754 40 1,794 0 1,794 1,309 65 99 108 1,581 32 1,613 0 1,613 Salaries and Benefits 其他營運支出505 137 121 198 961 52 1,013 0 1,013 439 114 142 128 823 50 873 0 873 Other Operating Expenses 折舊及攤銷85 0 23 55 163 50 213 0 213 73 0 22 50 145 50 195 0 195 Depreciation and Amortisation 間接費用收回 / 分部間之開支4 97 29 13 143 1 144 (144) 0 4 85 24 6 119 4 123 (123) 0 Overhead Recovery / Inter-segment Expenditure 2,026 315 284 396 3,021 143 3,164 (144) 3,020 1,825 264 287 292 2,668 136 2,804 (123) 2,681 本年度營運(虧損) / 盈餘(153) 75 3 18 (57) (47) (104) 0 (104) 61 74 17 120 272 233 505 0 505 (Deficit) / Surplus from operation for the year 所佔聯營公司的經營業績0 0 0 3 3 0 3 0 3 0 0 0 4 4 0 4 0 4 Share of Result of an Associate 本年度(虧損) / 盈餘(153) 75 3 21 (54) (47) (101) 0 (101) 61 74 17 124 276 233 509 0 509 (Deficit) / Surplus for the year 附註 : Note : 教資會整筆撥款資助活動之營運結餘會轉至教資會整筆撥款儲備，籌募及有關活動則轉至所得捐款及配對撥款儲備，而其他餘項會轉至其他儲備。 Operating result of UGC Block Grant-funded Activities was transferred to UGC Block Grant Reserves; that of Donations and Related Activities to Donations and Matching Grants Reserves; and the remaining items to Other Reserves. 薪酬及福利包括集團為界定供款退休金計劃所支付之供款共141百萬元(2011：130百萬元)。 Included in Salaries and Benefits was a total sum of $141 million (2011: $130 million), representing the Group's contributions towards defined contribution retirement benefits schemes. Transfers from Capital Reserves Government Subventions and Grants (Note 3.1) Donations and Related Activities UGC Block Grant - funded Activities Self financing CPEP Activities Other Activities 2012 2011 Inter-segment Transaction Elimination 籌募及有關 活動 Donations and Related Activities 籌募及有關 活動 UGC Block Grant - funded Activities Inter-segment Transaction Elimination Selffinancing CPEP Activities Other Activities Auxiliary Services and Other Income (Note 3.3) Tuition, Programmes and Other Fees Non-Block Grant funded Research Activities Non-Block Grant funded Research Activities 15 3. 分部資料(續) SEGMENT INFORMATION (Cont'd) (b) 綜合分部收支(按用途) Consolidated Segment Income and Expenditure (By function) 非整筆撥款非整筆撥款 教資會自負盈虧之資助之教資會自負盈虧之資助之 整筆撥款持續進修科研活動整筆撥款持續進修科研活動 資助活動教育活動分部間之資助活動教育活動分部間之 交易抵銷交易抵銷 其他活動其他活動 小計總計淨總計小計總計淨總計 Sub-total Total Net Total Sub-total Total Net Total 百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元 $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million 收入 Income 政府資助及撥款(附註3.1) 1,386 0 174 126 1,686 1 1,687 0 1,687 1,322 0 181 69 1,572 129 1,701 0 1,701 學費、課程及其他收費361 378 0 0 739 0 739 0 739 344 328 0 0 672 0 672 0 672 淨利息及投資收入(附註3.2) (1) 0 0 5 4 15 19 0 19 115 0 0 82 197 146 343 0 343 Interest and Investment Income, net (Note 3.2) 外界捐款0 0 0 0 0 27 27 0 27 0 0 0 0 0 39 39 0 39 Donations and Benefactions 輔助服務及其他收入(附註3.3) 33 8 92 132 265 11 276 0 276 30 4 102 132 268 13 281 0 281 轉撥自資本儲備69 0 21 37 127 41 168 0 168 53 0 21 34 108 42 150 0 150 間接費用收回 / 分部間之收入25 4 0 114 143 1 144 (144) 0 22 6 0 95 123 0 123 (123) 0 Overhead Recovery / Inter-segment Income 1,873 390 287 414 2,964 96 3,060 (144) 2,916 1,886 338 304 412 2,940 369 3,309 (123) 3,186 開支 Expenditure 學術及研究 Learning and Research 教學及研究1,274 215 255 122 1,866 58 1,924 0 1,924 1,163 178 263 102 1,706 48 1,754 0 1,754 Instruction and Research 圖書館 / 中央電腦設備 / 其他教學服務238 2 0 13 253 0 253 0 253 210 0 0 3 213 1 214 0 214 校務支援 Institutional Support 管理及一般事務144 0 0 14 158 12 170 0 170 132 0 0 11 143 12 155 0 155 Management and General 校舍及有關費用305 0 0 126 431 45 476 0 476 264 0 0 78 342 45 387 0 387 Premises and Related Expenses 學生及一般教育服務61 1 0 77 139 27 166 0 166 52 1 0 61 114 26 140 0 140 Student and General Education Services 其他活動0 0 0 31 31 0 31 0 31 0 0 0 31 31 0 31 0 31 Other Activities 間接費用收回 / 分部間之開支4 97 29 13 143 1 144 (144) 0 4 85 24 6 119 4 123 (123) 0 Overhead Recovery / Inter-segment Expenditure 2,026 315 284 396 3,021 143 3,164 (144) 3,020 1,825 264 287 292 2,668 136 2,804 (123) 2,681 本年度營運(虧損) / 盈餘(153) 75 3 18 (57) (47) (104) 0 (104) 61 74 17 120 272 233 505 0 505 所佔聯營公司的經營業績0 0 0 3 3 0 3 0 3 0 0 0 4 4 0 4 0 4 Share of Result of an Associate 本年度(虧損) / 盈餘(153) 75 3 21 (54) (47) (101) 0 (101) 61 74 17 124 276 233 509 0 509 (Deficit) / Surplus for the year 附註 : Note : 教資會整筆撥款資助活動之營運結餘會轉至教資會整筆撥款儲備，籌募及有關活動則轉至所得捐款及配對撥款儲備，而其他餘項會轉至其他儲備。 Operating result of UGC Block Grant-funded Activities was transferred to UGC Block Grant Reserves; that of Donations and Related Activities to Donations and Matching Grants Reserves; and the remaining items to Other Reserves. 2011 UGC Block Grant - funded Activities 2012 Selffinancing CPEP Activities Donations and Related Activities Inter-segment Transaction Elimination Inter-segment Transaction Elimination Donations and Related Activities 籌募及有關 活動 籌募及有關 Non-Block 活動 Grant funded Research Activities Other Activities Other Activities UGC Block Grant - funded Activities Selffinancing CPEP Activities Non-Block Grant funded Research Activities (Deficit ) / Surplus from operation for the year Library / Central Computing Facilities / Other Academic Services Government Subventions and Grants (Note 3.1) Tuition, Programmes and Other Fees Auxiliary Services and Other Income (Note 3.3) Transfers from Capital Reserves 16 3.1 政府資助及撥款 GOVERNMENT SUBVENTIONS AND GRANTS 教資會整筆籌募及非整筆撥款 撥款資助活動有關活動資助之科研活動 其他活動 總計 Total 百萬元百萬元百萬元百萬元百萬元 $million $million $million $million $million 年度 / Year 2012 教資會整筆經常撥款及指定撥款(附註15) 1,357 0 123 126 1,606 配對撥款0 1 0 0 1 Matching Grants 政府有關機構撥款(附註15) 0 0 51 0 51 Grants from Government Agencies (Note 15) 退還差餉及地租29 0 0 0 29 Rates and Government Rent Refunds 1,386 1 174 126 1,687 年度 / Year 2011 教資會整筆經常撥款及指定撥款(附註15) 1,297 0 123 69 1,489 配對撥款0 129 0 0 129 Matching Grants 政府有關機構撥款(附註15) 0 0 58 0 58 Grants from Government Agencies (Note 15) 退還差餉及地租25 0 0 0 25 Rates and Government Rent Refunds 1,322 129 181 69 1,701 3.2 淨利息及投資收入 INTEREST AND INVESTMENT INCOME, NET 2012 2011 百萬元百萬元 $million $million 利息收入 Interest income 72 67 按公平值透過損益記賬之財務資產之已實現盈利17 6 Realised gains of Financial Assets at Fair Value through Profit or Loss 按公平值透過損益記賬之財務資產之公平值變動(71) 269 Change in fair value of Financial Assets at Fair Value through Profit or Loss 可供出售財務資產之投資收入1 1 Investment income on Available-for-Sale Financial Assets 19 343 Other Activities Non-Block Grant funded Research Activities UGC Recurrent Block Grant and Earmarked Grants (Note 15) UGC Recurrent Block Grant and Earmarked Grants (Note 15) Donations and Related Activities UGC Block Grantfunded Activities 17 3.3 輔助服務及其他收入 AUXILIARY SERVICES AND OTHER INCOME 教資會非整筆撥款 整筆撥款自負盈虧之資助之 資助活動籌募及持續進修科研活動 有關活動教育活動 其他活動 總計 Total 百萬元百萬元百萬元百萬元百萬元百萬元 $million $million $million $million $million $million 年度 / Year 2012 研究合約0 0 0 71 0 71 Research Contract 學生宿舍0 0 0 0 72 72 Residence Halls 租金收入10 0 0 0 38 48 Rental Income 教職員繳納之租金17 0 0 0 12 29 Rental Contribution from Staff 服務收費、項目收入及其他贊助3 10 8 3 9 33 研究項目贊助(附註15) 0 0 0 18 0 18 Research Project Sponsorships (Note 15) 雜項收入3 1 0 0 1 5 Miscellaneous 33 11 8 92 132 276 年度 / Year 2011 研究合約 0 0 0 82 0 82 Research Contract 學生宿舍0 0 0 0 75 75 Residence Halls 租金收入7 0 0 0 45 52 Rental Income 教職員繳納之租金17 0 0 0 7 24 Rental Contribution from Staff 服務收費、項目收入及其他贊助3 10 4 2 3 22 研究項目贊助(附註15) 0 0 0 18 0 18 Research Project Sponsorships (Note 15) 雜項收入3 3 0 0 2 8 Miscellaneous 30 13 4 102 132 281 Services Fees, Workshop Income and Other Sponsorships Services Fees, Workshop Income and Other Sponsorships Other Activities Donations and Related Activities UGC Block Grant funded Activities Self financing CPEP Activities Non-Block Grant funded Research Activities 18 4. 高收入員工薪酬 REMUNERATION OF HIGHER PAID STAFF 2012 2011 年薪等值 Annual Equivalent Remuneration HK$ 1,800,001 - 1,950,000 56 46 HK$ 1,950,001 - 2,100,000 41 24 HK$ 2,100,001 - 2,250,000 24 9 HK$ 2,250,001 - 2,400,000 8 10 HK$ 2,400,001 - 2,550,000 9 5 HK$ 2,550,001 - 2,700,000 7 5 HK$ 2,700,001 - 2,850,000 6 2 HK$ 2,850,001 - 3,000,000 5 2 HK$ 3,000,001 - 3,150,000 3 0 HK$ 3,150,001 - 3,300,000 1 3 HK$ 3,300,001 - 3,450,000 1 0 HK$ 3,450,001 - 3,600,000 0 2 HK$ 3,900,001 - 4,050,000 2 0 HK$ > 4,050,001 - 1 1 Number of Employees 薪俸包括薪金、約滿酬金/ 退休金計劃供款、顧問費用、房屋及其他津貼。獲大學提供宿舍者，其 房屋福利以香港特別行政區政府差餉物業估價署評估其宿舍之應課差餉租值計算。 Remuneration includes salary, gratuity / contribution to retirement schemes, consultancy payments, housing and other benefits. For staff who are provided with quarters, their housing benefits are calculated by reference to the rateable values assessed by the Rating and Valuation Department of the Government of The Hong Kong Special Administrative Region. 員工數目 19 5. 稅項 TAXATION 本集團有關利得稅之計算稅項有別於採用集團本年度營運(虧損) / 盈餘計算之稅率分析如下： 2012 2011 百萬元百萬元 $million $million 本年度營運(虧損) / 盈餘(104) 505 (Deficit) / Surplus from operation for the year 按稅率16.5% (2011：16.5%) 計算之稅項(17) 83 Tax calculated at a tax rate of 16.5% (2011: 16.5%) 無需課稅收入的稅務影響(468) (511) Tax effect of non-taxable income 不可扣減支出的稅務影響482 427 Tax effect of non-deductible expenses 其他差額3 1 Other differences 稅項0 0 Taxation charge Deferred income tax assets are recognised for tax losses carried forward to the extent that the realisation of the related tax benefit through future taxable profits is probable. The PRC subsidiaries of the Group have not recognised deferred income tax assets of approximately $22.2 million (2011: $11.9 million) in respect of cumulative losses amounting to approximately $89.2 million (2011: $46.5 million). The tax losses for the PRC subsidiaries will expire on various dates up to 2017. The unrecognised tax loss of approximately $3.9 million (2011: Nil) for a Hong Kong subsidiary has no expiry date. 大學及其一香港附屬公司均根據香港稅務條例第88條之規定獲豁免繳付稅項，因此不需作出撥備。 No People's Republic of China ('PRC') enterprise income tax has been provided for non-tax exempt PRC subsidiaries as there is no assessable profits for the year (2011: Nil). The tax on the (deficit) / surplus from operation for the year differs from the theoretical amount that would arise using the tax rate applicable to profits of the Group as follows: 當累積稅項虧損有可能經未來應課稅盈利而帶來利益，集團才確認遞延稅項資產。本集團之中國附屬公司未有確 認之遞延稅項資產為約22,200,000元(2011年：11,900,000元)，其來自累積虧損約89,200,000元(2011年：46,500,000 元)。該筆中國附屬公司稅項虧損將逐步於2017年前期間到期。香港一附屬公司之未確認稅項虧損約為3,900,000元 (2011年：無)並沒有期限。 集團沒有就其未獲豁免繳稅之中國附屬公司作出中國企業稅撥備，因本年度並沒有應課稅之盈利(2011年：無)。 集團沒有就其一未獲豁免繳稅之香港附屬公司作出香港利得稅撥備，因本年度並沒有應課稅之盈利(2011年： 無)。 No Hong Kong profits tax has been provided for a non-tax exempt subsidiary in Hong Kong as there is no assessable profits for the year (2011: Nil.) No taxation is provided for the operation of the University and one of its subsidiaries in Hong Kong, which are exempt from taxation by virtue of Section 88 of the Inland Revenue Ordinance. 20 6. 物業、機器及設備 PROPERTY, PLANT AND EQUIPMENT 在建工程傢具及設備 樓宇總計 Buildings Total 百萬元百萬元百萬元百萬元 $million $million $million $million 成本 COST 2010年6月30日之結餘4,502 246 1,784 6,532 Balance as at 30 June 2010 添置14 248 84 346 Additions 轉撥233 (233) 0 0 Transfers 出售0 0 (79) (79) Disposals 匯兌差額4 0 1 5 Exchange translation difference 2011年6月30日之結餘4,753 261 1,790 6,804 Balance as at 30 June 2011 添置5 517 85 607 Additions 出售0 0 (75) (75) Disposals 匯兌差額1 0 0 1 Exchange translation difference 2012年6月30日之結餘4,759 778 1,800 7,337 Balance as at 30 June 2012 累積折舊 ACCUMULATED DEPRECIATION 2010年6月30日之結餘1,475 0 1,598 3,073 Balance as at 30 June 2010 本年度計算之折舊94 0 99 193 Charge for the year 出售0 0 (79) (79) Disposals 2011年6月30日之結餘1,569 0 1,618 3,187 Balance as at 30 June 2011 本年度計算之折舊95 0 100 195 Charge for the year 出售0 0 (75) (75) Disposals 2012年6月30日之結餘1,664 0 1,643 3,307 Balance as at 30 June 2012 賬面淨值 NET BOOK VALUE 2012年6月30日之結餘3,095 778 157 4,030 Balance as at 30 June 2012 2011年6月30日之結餘3,184 261 172 3,617 Balance as at 30 June 2011 傢具及設備按直線法依照每年20% - 25%年率計算折舊。 Fixtures and equipment are depreciated on a straight-line basis at 20% - 25% per annum. The University campus is situated on approximately 60 hectares of land in Sai Kung under lease from the Government of The Hong Kong Special Administrative Region at a nominal rent for 58 years through 30 June 2047. The campus buildings are depreciated on a straight-line basis at 2% per annum. A piece of land situated at Shenzhen of approximately 7,437 square meters was granted at a nominal amount to HKUST R&D Corporation (Shenzhen) Limited, a subsidiary of the Group, by the Shenzhen Municipal Government for the construction of an Industry-Education- Research base for 50 years through 28 June 2057. The respective building is depreciated over the remaining lease term. Construction in progress Fixtures and equipment 深圳市政府按名義租金批予集團其中一間附屬公司─ 港科大研究開發(深圳)有限公司一幅位於深圳約7,437平方米之土地作為興建產學研基地之 用，為期50年，至2057年6月28日止。該等樓宇按餘下租約年期計算折舊。 大學校舍座落於西貢約60公頃之土地，由香港特別行政區政府按名義租金批出，為期58年，至2047年6月30日止。校園樓宇按直線法依照每年2% 計算折舊。 21 7. 無形資產 INTANGIBLE ASSETS 電腦軟件 Computer Software 百萬元 $million 成本 COST 2010年6月30日之結餘64 Balance as at 30 June 2010 添置14 Additions 2011年6月30日之結餘78 Balance as at 30 June 2011 添置20 Additions 出售(1) Disposals 2012年6月30日之結餘97 Balance as at 30 June 2012 攤銷 AMORTISATION 2010年6月30日之結餘29 Balance as at 30 June 2010 本年度計算之攤銷2 Amortisation charge for the year 2011年6月30日之結餘31 Balance as at 30 June 2011 本年度計算之攤銷18 Amortisation charge for the year 出售(1) Disposals 2012年6月30日之結餘48 Balance as at 30 June 2012 賬面淨值 NET BOOK VALUE 2012年6月30日之結餘49 Balance as at 30 June 2012 2011年6月30日之結餘47 Balance as at 30 June 2011 電腦軟件資產按直線法每年25%計算攤銷。 Computer software is amortised on a straight-line basis at 25% per annum. 22 8. 財務資產 FINANCIAL ASSETS 2012 2011 百萬元百萬元 $million $million 持至到期日財務資產，按攤銷成本 Held-to-Maturity Financial Assets, at amortised cost 上市140 156 Listed 非上市1,286 1,471 Unlisted 1,426 1,627 於一年內到期407 204 Maturing within one year 於一年後到期1,019 1,423 Maturing after one year 1,426 1,627 按公平值透過損益記賬之財務資產(附註a) Financial Assets at Fair Value through Profit or Loss (Note a) 上市股權基金1,173 870 Listed Equity Funds 非上市股權基金90 65 Unlisted Equity Funds 上市固定收入基金308 224 Listed Fixed Income Funds 非上市固定收入基金426 234 Unlisted Fixed Income Funds 非上市實物基金361 263 Unlisted Real Assets Funds 非上市對沖基金10 0 Unlisted Hedge Funds 2,368 1,656 可供出售財務資產 Available-for-Sale Financial Assets 非上市股權證券，按成本(附註b) 1 1 Unlisted Equity Securities, at cost (Note b) 上市股權證券，按市值16 18 Listed Equity Securities, at market value 17 19 財務資產主要以港元及美元為單位。 Financial assets are mainly denominated in Hong Kong dollars and United States dollars. 附註 : Notes : (a) 公平值乃參考活躍市場或基金經理報價釐定。 The fair value was determined by reference to bid prices quoted in active markets or by fund managers. (b) The unlisted available-for-sale equity securities at cost represent an investment in an unlisted equity security issued by a private entity. It is measured at cost less impairment at each balance sheet date. The range of reasonable fair value of the asset is quite wide. Management of the Group is of the opinion that its fair value cannot be measured reliably. 由私人公司發行之非上市股權證券乃按成本扣除結算日減值計量，原因為合理公平值之估計範圍太大，集團管理層認為其公平值不 能可靠計量。 23 9. 於聯營公司權益 INTEREST IN AN ASSOCIATE 2012 2011 百萬元百萬元 $million $million 所佔淨資產59 57 Share of net assets 擁有權益 業務Proportion of 架構模式Nominal Value of Form of Issued Capital 持有股本類別 Business Held by Class of 主要活動 Structure the Group Shares Held Principal Activity 深港產學研基地事業法人單位33% 注入資本 2012 2011 百萬元百萬元 $million $million 下文載列為聯營公司之財務資料概要： The summarised financial information in respect of the associate is set out below: 總資產217 205 Total assets 總負債(39) (31) Total liabilities 資產淨值178 174 Net assets 集團應佔聯營公司之資產淨值59 57 Group's share of net assets of the associate 營業額35 34 Turnover 本年度溢利9 12 Profit for the year 集團年內應佔聯營公司業績3 4 Group's share of results of the associate for the year Institutional Organization People's Republic of China 聯營公司名稱 PKU-HKUST Shenzhen-Hong Kong Institution Name of Associate To engage in technology commercialization, incubation of start-up companies, provision of research and technology management services, training of senior management and administrative executives. Capital Contribution 註冊及營運地點 Place of Incorporation 致力於科技商業化，培育新 公司，提供研究和技術管理 服務，培訓高級管理人員及 行政專才。 and Operation 中華人民共和國 24 10. 於合資企業權益 INTEREST IN A JOINT VENTURE 2012 2011 百萬元百萬元 $million $million 所佔淨資產(附註) 0 0 Share of net assets (Note) 擁有股權 註冊及營運地點Proportion of 業務架構模式Place of Nominal Value Form of Incorporation 持有股本類別of Issued Percentage of 業務性質 Business and Class of Capital Held by Voting Power Structure Operation Shares Held the Group of the Board 中外合資中華人民共和國注入資本51% 60% 附註： Note: 本集團所佔之虧損超過其於該合資企業所佔之權益，而本集團並沒有責任補足其虧損。 The Group's share of losses exceeded its interest in the joint venture and the Group does not have obligation to make up the losses. The Group holds 51% of the share capital of ZAMI and has appointed 3 out of 5 directors in the Board representing 60% of voting power of the Board. However, under the memorandum and articles of association and shareholders' agreement of ZAMI, all significant events including financial and operating policies must be mutually agreed by the Group and the other significant shareholder. Therefore, ZAMI is classified as a jointly controlled entity of the Group. Sino-foreign joint venture Promotion of research for manufacturing business 集團持有“浙江港科大”之51%股權，並於5席之董事局內佔有3席，相當於60%之投票權。但是，根據“浙江港科大”之公司章程及股東協議， 所有重大之事項包括財務及營運之決策必須得到集團及另一主要股東一致決議通過，因此，集團把“浙江港科大”歸類為共同控制之實體。 於董事局之投 票權 Nature of Business 促進製造業的 研究工作 People's Republic of China Capital contribution 共同控制實體名稱 Zhejiang Advanced Manufacturing Institute of HKUST Co. Ltd. ('ZAMI') Name of Jointly-Controlled Entity 浙江港科大先進製造研究所 有限公司(「浙江港科大」) 25 11. 應收賬款及預付款項 ACCOUNTS RECEIVABLE AND PREPAYMENTS 2012 2011 百萬元百萬元 $million $million 預付款項及按金22 27 Prepayments and Deposits 應收賬款245 207 Accounts Receivable 267 234  應收賬款於發出通知後須立即償還。 Accounts receivable are repayable on demand.   應收賬款主要以港元為單位。 The accounts receivable are mainly denominated in Hong Kong dollars. 在衡量應收賬款之還款能力時，集團考慮其由給予信貸日至報告日期間之信貸質素變化。已過期 而無作減值撥備之應收賬款已於本報告日前清付或相關應收賬款過往並無拖欠還款。故此，校董 會認為無需就應收賬款作減值撥備，本集團並無就該等結餘持有任何抵押。 In determining the recoverability of accounts receivable, the Group considers any change in the credit quality of the accounts receivable from the date credit was initially granted up to the financial statements' report date. The accounts receivable past due but not provided for were either subsequently settled as at the date of this report or without historical default of payments by the respective debtor. Accordingly, the Council believes that there is no impairment provision required on these accounts receivable as at the balance sheet date. The Group does not hold any collateral over these balances. 26 12. 現金及等同現金 CASH AND CASH EQUIVALENTS 2012 2011 百萬元百萬元 $million $million 原到期日為三個月或以下之定期存款446 872 Bank Deposits with Original Maturity within Three Months 現金及銀行結餘293 95 Cash at Banks and in Hand 739 967 13. 應付賬款及應計費用 ACCOUNTS PAYABLE AND ACCRUALS 2012 2011 百萬元百萬元 $million $million 應付賬款及應計費用470 323 Accounts Payable and Accruals 應付賬款及應計費用主要以港元為單位。 The accounts payable and accruals are mainly denominated in Hong Kong dollars. 27 14. 教職員福利撥備 PROVISION FOR STAFF BENEFITS 2012 2011 百萬元百萬元 $million $million 退職金63 49 Gratuities 代假期金及其他75 63 Leave Pay and Others 138 112 應付於： Payable: 一年內122 98 Within 1 year 一年後16 14 After 1 year 138 112 28 15. 遞延收益 DEFERRED INCOME 所得捐款贊助總計 Donations Sponsorships Total 百萬元百萬元百萬元百萬元百萬元 $million $million $million $million $million 2010年6月30日之結餘636 30 8 22 696 Balance as at 30 June 2010 已收 / 應收之款項 Amount received / receivable - 承諾捐款(附註18) 0 0 13 0 13 Pledged Donations (Note 18) - 其他1,734 61 9 20 1,824 Others 計入綜合全面收益表(附註3.1及3.3) (1,489) (58) (5) (18) (1,570) 轉至資本儲備(附註16) (247) (1) (13) (1) (262) 2011年6月30日之結餘634 32 12 23 701 Balance as at 30 June 2011 已收 / 應收之款項 Amount received / receivable - 承諾捐款(附註18) 0 0 31 0 31 Pledged Donations (Note 18) - 其他2,028 54 8 21 2,111 Others 計入綜合全面收益表(附註3.1及3.3) (1,606) (51) (3) (18) (1,678) 轉至資本儲備(附註16) (515) (2) (25) (1) (543) 2012年6月30日之結餘541 33 23 25 622 Balance as at 30 June 2012 Grants from Government Agencies 政府有關機構 撥款 Credited to consolidated statement of comprehensive income (Notes 3.1 and 3.3) Transfer to Capital Reserves (Note 16) Credited to consolidated statement of comprehensive income (Notes 3.1 and 3.3) Transfer to Capital Reserves (Note 16) UGC Subventions and Grants 教資會資助及 撥款 29 16. 資本儲備 CAPITAL RESERVES 物業、機器 及設備 無形資產總計 Intangible Assets Total 百萬元百萬元百萬元 $million $million $million (附註6) (附註7) (Note 6) (Note 7) 2010年7月1日之結餘3,459 35 3,494 Balance as at 1 July 2010 (i) 經遞延收益賬資金購置之項目(附註24.14 / 24.15) Items funded through Deferred Income Account (Notes 24.14 / 24.15) 相當於添置物業、機器及設備及無形資產之款項轉撥自遞延收益(附註15) 248 14 262 相當於折舊及攤銷之款項轉撥至綜合全面收益表(148) (2) (150) (ii) 以滾存於儲備結餘之未使用收益購置的項目(附註24.14 / 24.15) Items funded by unspent income retained in reserves (Notes 24.14 / 24.15) 轉撥自 / (至)有關儲備： Transferred from / (to) respective reserves: 相當於添置物業、機器及設備及無形資產之款項 Amounts equivalent to additions to Property, Plant and Equipment and Intangible Assets 教資會整筆撥款儲備10 0 10 UGC Block Grants Reserves 所得捐款及配對撥款儲備25 0 25 Donations and Matching Grants Reserves 其他儲備63 0 63 Other Reserves 98 0 98 相當於折舊及攤銷之款項 Amounts equivalent to depreciation and amortisation charges 教資會整筆撥款儲備(20) 0 (20) UGC Block Grants Reserves 所得捐款及配對撥款儲備(8) 0 (8) Donations and Matching Grants Reserves 其他儲備(17) 0 (17) Other Reserves (45) 0 (45) 由有關儲備淨轉撥(備註) 53 0 53 Net transfer from respective reserves (Remark) (iii) 外幣換算之差額5 0 5 Exchange differences arising from retranslation 2011年6月30日之結餘3,617 47 3,664 Balance as at 30 June 2011 備註： Remark: 淨轉撥自 / (至)： Net Transfer from / (to): 教資會整筆撥款儲備(附註17) (10) 0 (10) UGC Block Grants Reserves (Note 17) 所得捐款及配對撥款儲備(附註18) 17 0 17 Donations and Matching Grants Reserves (Note 18) 其他儲備46 0 46 Other Reserves 53 0 53 Amounts equivalent to additions to Property, Plant and Equipment and Intangible Assets transferred from Deferred Income (Note 15) Amounts equivalent to depreciation and amortisation charges transferred to Consolidated Statement of Comprehensive Income Property, Plant & Equipment 30 16. 資本儲備(續) CAPITAL RESERVES (Cont'd) 物業、機器 及設備 無形資產總計 Intangible Assets Total 百萬元百萬元百萬元 $million $million $million (附註6) (附註7) (Note 6) (Note 7) 2011年7月1日之結餘3,617 47 3,664 Balance as at 1 July 2011 (i) 經遞延收益賬資金購置之項目(附註24.14 / 24.15) Items funded through Deferred Income Account (Notes 24.14 / 24.15) 相當於添置物業、機器及設備及無形資產之款項轉撥自遞延收益(附註15) 523 20 543 相當於折舊及攤銷之款項轉撥至綜合全面收益表(150) (18) (168) (ii) 以滾存於儲備結餘之未使用收益購置的項目(附註24.14 / 24.15) Items funded by unspent income retained in reserves (Notes 24.14 / 24.15) 轉撥自 / (至)有關儲備： Transferred from / (to) respective reserves: 相當於添置物業、機器及設備及無形資產之款項 Amounts equivalent to additions to Property, Plant and Equipment and Intangible Assets 教資會整筆撥款儲備6 0 6 UGC Block Grants Reserves 所得捐款及配對撥款儲備44 0 44 Donations and Matching Grants Reserves 其他儲備34 0 34 Other Reserves 84 0 84 相當於折舊及攤銷之款項 Amounts equivalent to depreciation and amortisation charges 教資會整筆撥款儲備(16) 0 (16) UGC Block Grants Reserves 所得捐款及配對撥款儲備(9) 0 (9) Donations and Matching Grants Reserves 其他儲備(20) 0 (20) Other Reserves (45) 0 (45) 由有關儲備淨轉撥(備註) 39 0 39 Net transfer from respective reserves (Remark) (iii) 外幣換算之差額1 0 1 Exchange differences arising from retranslation 2012年6月30日之結餘4,030 49 4,079 Balance as at 30 June 2012 備註： Remark: 淨轉撥自 / (至)： Net Transfer from / (to): 教資會整筆撥款儲備(附註17) (10) 0 (10) UGC Block Grants Reserves (Note 17) 所得捐款及配對撥款儲備(附註18) 35 0 35 Donations and Matching Grants Reserves (Note 18) 其他儲備14 0 14 Other Reserves 39 0 39 Amounts equivalent to depreciation and amortisation charges transferred to Consolidated Statement of Comprehensive Income Property, Plant & Equipment Amounts equivalent to additions to Property, Plant and Equipment and Intangible Assets transferred from Deferred Income (Note 15) 31 17. 教資會整筆撥款儲備 UGC BLOCK GRANT RESERVES 研究項目及其他一般及發展儲備 總計 Total 百萬元百萬元百萬元 $million $million $million 2010年6月30日之結餘86 953 1,039 Balance as at 30 June 2010 年內全面收益總額11 50 61 Total comprehensive income for the year 轉撥自資本儲備(附註16 / 24.14) 10 0 10 Transfer from Capital Reserves (Notes 16 / 24.14) 2011年6月30日之結餘107 1,003 1,110 Balance as at 30 June 2011 年內全面虧絀總額(16) (137) (153) Total comprehensive loss for the year 轉撥自資本儲備 (附註16 / 24.14) 10 0 10 Transfer from Capital Reserves (Notes 16 / 24.14) 2012年6月30日之結餘101 866 967 Balance as at 30 June 2012 General and Development Reserve Research Projects and Others 32 18. 所得捐款及配對撥款儲備 DONATIONS AND MATCHING GRANTS RESERVES 留本指定非指定總計 Endowment Designated Unspecified Total 百萬元百萬元百萬元百萬元 $million $million $million $million 2010年6月30日之結餘495 600 821 1,916 Balance as at 30 June 2010 年內全面收益 / (虧絀)總額43 (33) 226 236 Total comprehensive income / (loss) for the year 轉撥自 / (至)資本儲備(附註16 / 24.14) 0 1 (18) (17) Transfer from / (to) Capital Reserves (Notes 16 / 24.14) 其他資金轉撥115 (93) (22) 0 Other inter-fund transfer 2011年6月30日之結餘653 475 1,007 2,135 Balance as at 30 June 2011 年內全面收益 / (虧絀)總額22 (49) (20) (47) Total comprehensive income / (loss) for the year 轉撥至資本儲備(附註16 / 24.14) 0 0 (35) (35) Transfer to Capital Reserves (Notes 16 / 24.14) 外幣換算之差額0 (1) 0 (1) Exchange difference arising from retranslation 其他資金轉撥15 0 (2) 13 Other inter-fund transfer 2012年6月30日之結餘690 425 950 2,065 Balance as at 30 June 2012 33 18. 所得捐款及配對撥款儲備(續) DONATIONS AND MATCHING GRANTS RESERVES (Cont'd) 承諾捐款之資料 Information on pledged donations 資本項目其他活動 之所得捐款之所得捐款 總計 Total 百萬元百萬元百萬元 $million $million $million 於2010年6月30日未兌現之款額121 211 332 Outstanding amount as at 30 June 2010 在本年度已收之捐款並於綜合全面收益表確認0 (5) (5) 在本年度已收之捐款並記入遞延收益賬項(附註15) (13) 0 (13) 新增未兌現之承諾捐款0 17 17 New outstanding pledges 於2011年6月30日未兌現之款額108 223 331 Outstanding amount as at 30 June 2011 在本年度已收之捐款並於綜合全面收益表確認0 (5) (5) 在本年度已收之捐款並記入遞延收益賬項(附註15) (26) (5) (31) 新增未兌現之承諾捐款0 90 90 New outstanding pledges 於2012年6月30日未兌現之款額82 303 385 Outstanding amount as at 30 June 2012 Amounts received during the year credited to Deferred Income (Note 15) Donations for Other Activities Donations for Capital Projects Amount received during the year recognised in consolidated statement of comprehensive income Amounts received during the year credited to Deferred Income (Note 15) Amount received during the year recognised in consolidated statement of comprehensive income 34 19. 財務風險管理 FINANCIAL RISK MANAGEMENT 19.1 金融工具分類 CATEGORIES OF FINANCIAL INSTRUMENTS 2012 2011 百萬元百萬元 $million $million 財務資產 Financial Assets 貸款及應收款 Loans and Receivables 應收賬款及按金249 210 Accounts receivable and deposits 銀行存款594 957 Bank deposits 現金及等同現金739 967 Cash and cash equivalents 可供出售財務資產17 19 Available-for-Sale Financial Assets 按公平值透過損益記賬之財務資產2,368 1,656 Financial Assets at Fair Value through Profit or Loss 持至到期日財務資產1,426 1,627 Held-to-Maturity Financial Assets 財務負債 Financial Liabilities 其他按攤銷成本入賬之財務負債 Other Financial Liabilities at Amortised Cost 應付賬款及應計費用284 177 Accounts Payable and Accruals 19.2 財務風險因素19.2 FINANCIAL RISK FACTORS The Group's activities expose it to a variety of financial risks: market risk (including foreign currency risk, interest rate risk and price risk), credit risk and liquidity risk. The Group's overall risk management focuses on controlling the impact arising from unpredictability of financial markets and seeks to minimise potential adverse effects on the Group's financial performance. The Finance Committee assumes the risk management responsibility and monitors regularly the risk exposures of the Group. 集團活動承受各種財務風險：如市場風險(包括外匯 風險、利率風險及價格風險)、信貸風險及流動資金 風險。集團風險管理著重於控制因財務市場的不能預 計因素而引起的影響及嘗試對本集團財務表現的可能 負面影響減至最低。財務委員會肩負起風險管理責任 及定期監察集團面對的風險。 35 19. 財務風險管理(續) 19. FINANCIAL RISK MANAGEMENT (Cont'd) 19.2 財務風險因素(續) 19.2 FINANCIAL RISK FACTORS (Cont'd) (a) 市場風險(a) Market risk (i) 外匯風險(i) Foreign currency risk (ii) 利率風險(ii) Interest rate risk 市場風險是因匯率、利率及股票價格等市場變數出現 變動而引致財務資產出現虧損的風險。本集團承受的 市場風險主要來自其持有的投資資金。本集團的投資 包括股本證券、債券、投資基金及定期存款。本集團 的投資策略是審慎地投資以保障本金及實現適當分散 風險，同時取得穩定回報及流動資金。本集團從外委 聘投資經理管理部分投資，也授權財務處管理定期存 款及定息工具。 Market risk represents the risk that the value of financial assets will decrease as a result of movements in market variables such as foreign currency exchange rates, interest rates and stock prices. The Group is exposed to market risk mainly through the investment funds it holds. The Group's investments comprise equities, debt securities, investment funds and time deposits. The investment strategy of the Group is to invest prudently in order to preserve capital and achieve optimal risk diversification while generating a stable return and the required liquidity. The Group employs external investment managers to manage a proportion of its investments, and delegates the Finance Office of the University to manage fixed deposits and fixed income instruments. 於2012年6月30日，以港元、美元及其他幣值計值 的金融資產值約分別佔總金融資產值的47%(2011 年為63.3%)、50%(2011年為34%)及3%(2011年為 2.7%)。 As at 30 June 2012, the percentages of financial assets denominated in HKD, USD and other currencies to total financial assets were 47% (2011: 63.3%), 50% (2011: 34%) and 3% (2011: 2.7%), respectively. 集團面對之外匯風險主要來自基金經理管理之美 元計值股票、固定收益投資及實物資產的組合。 但由於港元與美元掛鈎，集團預期因港元與美元 匯率變化而產生之風險不大。 預期長遠而言貨幣波動對投資組合表現的影響較 少，因此正常情況下不會安排非美元貨幣的對 沖。我們將會定期對現有的貨幣風險管理政策進 行檢討，必要時或會進行對沖安排。 The Group is exposed to foreign currency risks primarily arising from its United States dollars ('USD') denominated equity, fixed income investments and real assets that are managed by fund managers. As HKD is pegged to the USD, the Group considers the risk from movements in exchange rates between the HKD and USD to be insignificant. Since currency movements tend to have a much smaller impact on portfolio performance in the long run, no hedging for non-USD currency exposure will be arranged under normal circumstances. Such currency exposure management policy is subject to periodic review and hedging may be arranged when situation warrants. 集團需承受由定期存款所產生的公平值利率風 險。因定期存款通常在三個月至六個月內到期， 所以其風險不高。假設其他可變動項目保持不變 ，倘利率上升或下跌50個基點，集團截至2012年6 月30日止年度的虧損會增加/ 減少約500萬元(2011 年為900萬元)。 The Group is exposed to fair value interest rate risk in relation to its fixed deposits. As the fixed deposits usually mature within three to six months, the risk exposure is considered not material. If interest rates had been 50 basis points higher / lower, with all other variables held constant, the Group's deficit for the year ended 30 June 2012 would increase / decrease by approximately $5 million (2011: $9 million). 36 19. 財務風險管理(續) 19. FINANCIAL RISK MANAGEMENT (Cont'd) 19.2 財務風險因素(續) 19.2 FINANCIAL RISK FACTORS (Cont'd) (a) 市場風險(續) (a) Market risk (Cont'd) (iii) 價格風險(iii) Price risk (b) 信貸風險(b) Credit risk (c) 流動資金風險(c) Liquidity risk 倘訂約各方於2011年及2012年6月30日未能履行有關各 類已確認金融資產之責任，則本集團之信貸風險最高 為於綜合資產負債表所示資產的賬面值。 The Group's credit risk is primarily attributable to its accounts receivable. The amounts represented in the consolidated balance sheet are net of allowances for doubtful receivable, estimated by the Group's management based on past experience and their assessment of the current economy. 集團面對之證券價格風險主要來自由基金經理所 管理的投資基金。證券價格風險會於不同市場、 行業及資產類別設定分散投資的方法來管理。於 2012年6月30日，若價格上升/ 下跌5%，在其他所 有變數維持不變的情況下，本集團截至2012年6 月30日止年度的虧損將增加/ 減少約11,900萬元 (2011年為8,400萬元)。 本集團的大部份負債到期日為結算日後半年內。管理 流動資金風險方面，本集團會監察及維持現金及現金 等值項目於充足的水平，以應付日常營運所需。 Most of the Group's liabilities are within six months from the respective balance sheet date. To manage the liquidity risk, the Group monitors and maintains a level of cash and cash equivalents to fulfill the normal liquidity needs. 集團之主要財務資產為現金及等同現金、定期存款、 應收賬款、持至到期日財務資產、可供出售財務資產 及按公平值透過損益記賬財務資產。 集團並無過度集中信貸風險，因擁有多名對手方，可 分散風險。 集團之信貸風險主要來自應收賬款。於綜合資產負債 表內之金額為扣除呆賬準備後淨額，由集團管理層根 據過往經驗及經濟現況作出評估。 The Group's maximum exposure to credit risk in the event of the counterparties' failure to perform their obligations as at 30 June 2012 and 2011 in relation to each class of recognised financial assets is the carrying amount of those assets as stated in the consolidated balance sheet. The Group's principal financial assets are cash and cash equivalents, bank deposits, accounts receivable, held-to-maturity financial assets, available-for-sale financial assets and financial assets at fair value through profit or loss. The Group has no significant concentration of credit risk, with exposure spread over a number of counterparties. Cash and cash equivalents and bank deposits are placed with counterparties with credit-ratings assigned by international credit-ratings agencies. Held-to-maturity financial assets, financial assets at fair value through profit or loss and available-for-sale financial assets are rated investment grade or above. 現金及等同現金和定期存款，均存放於獲國際信貸機 構給予信貸評級之對手方。持至到期日財務資產、按 公平值透過損益記賬財務資產及可供出售財務資產均 評為投資級別或以上。 The Group is mainly exposed to securities price risk from its investments managed by fund managers. Securities price risk is managed by diversification of investments in different markets, sectors and assets types. At 30 June 2012, if the prices of the respective investments had been 5% higher / lower, with all other variables held constant, the Group's deficit for the year ended 30 June 2012 would increase / decrease by approximately $119 million (2011: $84 million). 37 19. 財務風險管理(續) 19. FINANCIAL RISK MANAGEMENT (Cont'd) 19.3 資本管理19.3 CAPITAL MANAGEMENT 19.4 公平值估算19.4 FAIR VALUE ESTIMATION  相同資產或負債在活躍市場之報價(第一等級)     資產和負債並非依據可觀察市場數據之資料(第三等級）  第一等級第二等級第三等級總計Level 1 Level 2 Level 3 Total 百萬元百萬元百萬元百萬元$million $million $million $million 於2012年6月30日As at 30 June 2012 1,698 670 0 2,368 1,698 670 0 2,368 16 0 1 17 16 0 1 17 於2011年6月30日As at 30 June 2011 1,160 496 0 1,656 1,160 496 0 1,656 18 0 1 19 18 0 1 19 Quoted prices in active markets for identical assets or liabilities (level 1) Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly (level 2) The tables below provide an analysis of the Group's financial instruments that are measured at fair value in the consolidated balance sheet, grouped by level of the following fair value measurement: 以下列表提供於綜合資產負債表按公平值計量之本集團金融工具 之分析，按下列公平值計量等級歸類： 除了第一等級所包括之報價外，該資產和負債之可觀察資料， 可為直接或間接(第二等級） 集團的資金由資本儲備、教資會整筆撥款儲備、所得捐款及 配對撥款儲備、其他儲備及投資重估儲備組成，該等儲備是 為著各樣指定目的而設立，並詳列於附註16至18內。集團的 目標是保持足夠儲備以配合集團現在及將來營運支出需要。 集團的整體策略如往年一樣維持不變。 The Group's funds consist of Capital Reserves, UGC Block Grant Reserves, Donations and Matching Grants Reserves, Other Reserves and Investment Revaluation Reserve, which are set up for various designated purposes as described in notes 16 to 18. It is the Group's objective to maintain sufficient reserves to support the Group's current and future operating expenditure requirements. The Group's overall strategy remains unchanged from prior years. The Group manages its capital structure and makes adjustments to it in light of changes in economic conditions and the risk characteristics of its activities. 本集團因應經濟情況的變化和其活動風險特徵來管理其資本 結構並作出相應調整。 年末所持有第三等級之資產並無任何盈利或虧損確認於綜合全面 收益表。 There was no gain or loss recognised in the consolidated statement of comprehensive income for the level 3 assets held at the end of the reporting period. 按公平值透過 損益記賬之財 務資產 Available-forsale financial assets Financial assets at fair value through profit or loss 可供出售財務 資產 Inputs for the asset or liability that are not based on observable market data (level 3) There were no transfers between level 1 and level 2 during the year ended 30 June 2012 (2011: Nil). 截至2012年6月30日止年度內並無第一等級與第二等級之間的轉 撥(2011：無)。 Financial assets at fair value through profit or loss Available-for sale financial assets 按公平值透過 損益記賬之財 務資產 可供出售財務 資產 38 20. 承擔 COMMITMENTS 2012 2011 百萬元百萬元 $million $million (a) 資本承擔 Capital Commitments 以下為未於財務報表作出準備之未履行資本承擔： 已簽約849 937 Contracted for 已獲授權但尚未簽約1,002 1,038 Authorised but not contracted for 1,851 1,975 上述未履行承擔的資本來源： Funding support for the above outstanding capital commitments: 2012 2011 百萬元百萬元 $million $million 源自集團其他資本之金額 - 已確認為收入並留存於教資會整筆撥款儲備之金額77 66 Amounts recognised as Income and retained in UGC Block Grant Reserves - 將會從其他儲備中分配之金額472 361 Other amounts representing other reserves to be allocated 已收取並反映於遞延收益於6月30日之金額52 150 Amounts received and reflected as deferred income as at 30 June 教資會已批准但未收到之撥款金額1,183 * 1,305 Amounts in respect of UGC Grants approved but not yet received 捐獻者承諾之金額67 93 Amounts pledged by donors 1,851 1,975 * 金額包括一項約450萬元之教資會資金，以用於一項已獲校董會批准及教資會支持之新學生宿舍建設項目。 2012 2011 百萬元百萬元 $million $million (b) 營運租約之承擔 Operating Lease Commitments (i) 一年內16 11 In one year 第二至第五年內22 16 In the second to fifth years inclusive 38 27 (ii) 於6月30日，集團擁有不可撤銷營運租賃之日後最低租賃收入合共如下： 一年內3 7 In one year 第二至第五年內0 1 In the second to fifth years inclusive 3 8 Outstanding capital commitments not provided for in the financial statements were as follows: As at 30 June, the Group had future aggregate minimum lease income under non-cancellable operating leases as follows: As at 30 June, the Group had future aggregate minimum lease payments under non-cancellable operating leases payable as follows: Amounts to be financed by the Group's Resources 於6月30日，集團於不可撤銷營運租約之條款下所簽定之日後最低租賃付款合共 如下： Amount includes an estimated UGC funding of $450 million for a Council-authorised and UGC supported new student hostel construction project. 39 21. 關聯方交易 RELATED PARTY TRANSACTIONS 於本年度，集團與關聯方訂立的交易如下： During the year, the Group has entered into the following transactions with related parties: 2012 2011 百萬元百萬元 $million $million (a) 與聯營公司之交易 Transactions with an Associate 支付予聯營公司之租金0 1 Rental paid to an Associate (b) 主要管理人員的酬金 Key management personnel compensation 薪金及其他短期僱員福利55 38 Salaries and other short-term employee benefits 離職後福利4 3 Post employment benefits 59 41 所有牽涉大學校董會成員或主要管理人員或與該等人士有利益關係的機構之採購及捐款活動 均以正常基礎及按照大學的條例及程序處理。 All transactions including procurement of goods and services as well as donations involving members of the University Council or key management personnel or organisations in which they may have an interest are conducted on an arm's length basis and in accordance with the University's regulations and procedures. 40 22. 附屬公司 SUBSIDIARIES 於2012年6月30日，大學之主要附屬公司如下： At 30 June 2012, the University's principal subsidiaries were as follows: 註冊地點 / 國家 Place / Country of Incorporation 直接持有間接持有 Direct Indirect 香港100% - 不活動 Hong Kong Dormant 香港科大地產有限公司香港100% - 不活動 HKUST Properties Limited Hong Kong Dormant 香港科大研究開發有限公司香港100% - Hong Kong 中華人民共和國- 100% HKUST R and D Corporation (Guangzhou) Limited 中華人民共和國- 100% 中華人民共和國- 100% 中華人民共和國100% - The HKUST Shenzhen Research Institute Facilitation of the University's education, training, research and incubation activities in the People's Republic of China. 港科大研究開發(深圳)有限公司 香港科技大學深圳研究院擔任聯絡人，協助科大在中華人 民共和國的教育、培訓、研究及 孕育活動等。 Guangzhou HKUST Fok Ying Tung Research Institute People's Republic of China People's Republic of China To engage in basic scientific research, technology innovation and associated research and development activities, as well as training of management and advanced technology personnel. 致力於基本科學的研究，科技的 創新及相關科研活動的推廣，先 進科技人才及管理人員的培訓。 主要活動 Principal Activity 廣州市香港科大霍英東研究院 香港科技大學持續進修學院有限公司 致力於珠江三角洲地區把科技商 業化。包括工業合同、技術授 權、培育新公司及其它研究和技 術服務。 To engage in technology commercialisation including industrial contracting, licensing, incubation of start-up companies and research and technical services in the Pearl River Delta Area. HKUST College of Lifelong Learning Limited People's Republic of China HKUST R and D Corporation (Shenzhen) Limited People's Republic of China 擁有股權 附屬公司of Issued / Registered Capital Nominal Value Proportion of 廣州香港科大研究開發有限公司 Hong Kong University of Science and Technology R and D Corporation Limited Subsidiary Held by the University 41 23. 主要會計估計及判斷23. 投資估值 持至到期日財務資產Held-to-maturity financial assets 呆壞賬撥備 本集團之呆壞賬撥備政策是根據對收回 款項之可能性之評估、賬戶之賬齡分析 及管理層之判斷作出。在評估該等應收 款項之最終變現時需要作判斷，根據每 名債務人之現時信譽及過往收款紀錄。 倘本集團債務人之財務狀況惡化，損害 其還款能力，有可能需要額外撥備。 Provision for doubtful receivables Valuation of investments The fair values of financial instruments traded in active markets are based on quoted bid prices at the balance sheet date. The fair values of financial instruments that are not traded in an active market are determined using established valuation techniques. The Group uses its judgement to select a variety of methods and make assumptions that are mainly based on market conditions existing at the end of each reporting period. 在活躍市場買賣的金融工具之公平值根 據結算日的市場報價列賬。沒有活躍市 場買賣的金融工具，其公平值根據既定 的估值技術釐定。本集團利用判斷選取 多種方法，並主要根據每個報告期末當 時的市場情況作出假設。 Non-derivative financial assets with fixed or determinable payments and fixed maturity are classified as held-to-maturity financial assets if the Group has the intention and ability to hold them until maturity. In evaluating whether the requirements to classify a financial asset as held-to-maturity are met, management makes significant judgements. Failure in correctly assessing the Group's intention and ability to hold specific investments until maturity may result in reclassification of the whole portfolio as available-for sale financial assets. 對於有固定或可確定付款和固定到期日 的非衍生金融資產，集團如有意及有能 力持有至到期日，則歸類為持至到期日 財務資產投資。在評估某金融資產是否 符合歸類為持至到期日投資的條件時， 管理層需要作出重大判斷。如果未能對 集團是否有意及有能力持有某特定投資 至到期日作出準確的判斷，可能會導致 整個投資組合需被重新歸類為可供出售 財務資產。 The provisioning policy for bad and doubtful debts of the Group is based on the evaluation of collectability and ageing analysis of the receivables and on management's judgement. Judgement is required in assessing the ultimate realisation of these receivables, based on the current creditworthiness and the past collection history of each debtor. If the financial conditions of debtors of the Group was to deteriorate, resulting in an impairment of their ability to make payments, additional allowances may be required. Depreciation of property, plant and equipment and amortisation of intangible assets 本集團以預計使用年限計算物業、機器 及設備之折舊及無形資產之攤銷。如原 先估計之使用年限未能與事實相符，管 理層會修訂其折舊或攤銷率。 物業、機器及設備之折舊及無形資產之 攤銷 CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS In determining the carrying amounts of some assets and liabilities, the Group makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. These estimates involve assumptions about such items as risk adjustment to cash flows or discount rates used, future changes in salaries and future changes in prices affecting other costs. The Group's estimates and assumptions are based on historical experience and expectations of future events and are reviewed periodically. In addition to assumptions and estimations of future events, judgements are also made during the process of applying the Group's accounting policies. The Group determines the estimated useful lives for related depreciation charges for property, plant and equipment and amortisation of intangible assets. Management will revise the depreciation or amortisation charges where useful lives are different to previously estimated. 在釐定部分資產和負債的賬面金額時， 集團就不確定的未來事件對於資產負債 表日該等資產和負債的影響作出了假 設。這些估計涉及對現金流量風險調整 或貼現率、未來薪金變動和影響其他成 本的價格未來變動的假設。集團根據過 去的經驗和對未來事件的預計作出估計 和假設，並定期覆檢。除對未來事件的 假設和估計外，集團採用會計政策時亦 需要作出判斷。 42 24. 主要會計政策 PRINCIPAL ACCOUNTING POLICIES 24.1 採納新訂 / 經修訂香港財務報告準則 Adoption of new / revised HKFRS 截至2012年6月30日止年度，本集團已採用下列經已生效及與本集團營運有關之香港財務報告準則修訂。 香港會計準則第24號(修訂) 關聯方披露 HKAS 24 (Revised) Related Party Disclosures 香港財務報告準則(修訂) HKFRSs (Amendments) 香港財務報告準則之改進(頒佈於2010年5月) Annual Improvements to certain HKFRSs published in May 2010 香港會計準則第1號(修訂) 財務報表的呈報 HKAS 1 (Amendment) Presentation of Financial Statements 香港財務報告準則第7號(修訂) HKFRS 7 (Amendment) 香港(國際財務報告解釋委員) - 解釋公告13(修訂) HK(IFRIC) - Int 13 (Amendment) 24.2 綜合基準24.2 Basis of Consolidation 綜合財務報表包括截至每年6月30日大學 及受大學控制之個體的財務報表。 本集團於編製財務報表時所採用之主要會計政策載列如下。除另有說明外，該等政策於所有呈列之年度內一直 貫徹採用。 The principal accounting policies applied in the preparation of the financial statements of the Group are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. The consolidated financial statements include the financial statements of the University and entities controlled by the University made up to 30 June each year. 金融工具：披露 Financial Instruments: Disclosures 客戶忠誠度計劃 Customer Loyalty Programmes 本集團已評估採納上述修訂及詮釋後之影響，認為無論對集團之業績及財務狀況或會計政策及財務報表的呈列 ，均無任何重大影響。 The Group has assessed the impact of the adoption of these amendments and interpretation and considered that there was no significant impact on the Group's results and financial position nor any substantial changes to the Group's accounting policies and presentation of the financial statements. For the year ended 30 June 2012, the Group has adopted the following amendments to HKFRS that are effective and relevant to the operations of the Group. 43 24. 主要會計政策(續) 24. 24.2 綜合基準(續) 24.2 Basis of Consolidation (Cont'd) 24.3 於聯營公司權益24.3 Interest in an Associate 如有需要，會對附屬公司的財務報表作 出調整，使其會計政策與集團其他成員 公司所使用的會計政策保持一致。 Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies into line with those used by other members of the Group. Unrealised gains on transactions between the Group and its associates are eliminated to the extent of the Group's interest in the associates. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of associates have been changed where necessary to ensure consistency with the policies adopted by the Group. Subsidiaries are those entities in which the University, directly and indirectly, controls the composition of the board of directors; controls more than one half of the voting power; has the power to govern the financial and operating policies; has the power to appoint or remove the majority of the members of the board of directors; or has the power to cast a majority of votes at the meetings of the board of directors. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 於年內所收購或出售附屬公司的業績， 分別由收購生效日期起或至出售生效日 期止計入綜合全面收益表。 The results of subsidiaries acquired or disposed of during the year are included in the consolidated statement of comprehensive income from the effective date of acquisition or up to the effective date of disposal, as appropriate. 聯營公司指本集團可對其政策決定作重 要影響之機構，而該機構又不屬於集團 之附屬公司或於合資企業權益。 An associate is an entity over which the Group has significant influence and that is neither a subsidiary nor an interest in a joint venture. The results and assets and liabilities of an associate are incorporated in the consolidated financial statements using the equity method of accounting. Interest in an associate is carried in the consolidated balance sheet at cost as adjusted by post-acquisition changes in the Group's share of the net assets of the associate, less any impairment loss. 集團內部所有重大交易及結餘均在綜合 賬內抵銷。 All significant intercompany transactions and balances within the group are eliminated on consolidation. 附屬公司是指本大學直接或間接控制董 事會的組合、控制其超過半數投票權、 有管治其財務及營運政策權、有委任或 撤換其董事會大部分成員權力，或佔其 董事會會議大多數投票權之公司。 聯營公司之業績、資產及負債以權益會 計法列入綜合財務報表。聯營公司權益 按成本值列入綜合資產負債表，其後會 就收購後集團應佔聯營公司之淨資產作 出調整，並扣除投資減值虧損入賬。 本集團與其聯營公司之間交易的未實現 收益按集團在聯營公司權益的數額對 銷。除非交易提供所轉讓資產減值之憑 證，否則未實現虧損亦予以對銷。聯營 公司的會計政策已按需要作出改變，以 確保與本集團採用的政策符合一致。 44 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.4 於合資企業權益24.4 Interest in a Joint Venture 24.5 物業、機器及設備24.5 Property, Plant and Equipment A joint venture is a contractual arrangement whereby the Group and other parties undertake an economic activity that is subject to joint control, that is when the strategic financial and operating policy decisions relating to the activities require the unanimous consent of the parties sharing control. A joint venture arrangement that involves the establishment of a separate entity in which venturers have joint control over the economic activity of the entity are referred to as a jointly controlled entity. The results and assets and liabilities of a jointly controlled entity are incorporated in the consolidated financial statements using the equity method of accounting. Interest in a jointly controlled entity is carried in the consolidated balance sheet at cost as adjusted by post acquisition changes in the Group's share of the net assets of the jointly controlled entity, less any impairment loss. When the share of losses of the Group in a joint venture equals or exceeds its interest in the joint venture, the group does not recognise further losses, unless it has incurred obligations or made payments on behalf of the joint venture. Unrealised gains on transactions between the Group and its joint venture are eliminated to the extent of the Group's interest in the joint venture. Unrealised losses are also eliminated unless the transaction provides evidence of an impairment of the asset transferred. Accounting policies of the joint venture have been changed where necessary to ensure consistency with the policies adopted by the Group. Property, plant and equipment, other than construction in progress, are stated at cost less accumulated depreciation and accumulated impairment losses. Depreciation of property, plant and equipment, other than construction in progress, is calculated using the straight-line method to allocate their costs to the residual values over the estimated useful lives. Full year depreciation is charged for property, plant and equipment in the year when it is ready for use. Annual depreciation is charged against the consolidated income and expenditure under the respective segments. 合資企業是一個合約上的安排，由集團 與其他參與者進行一項經濟活動，該項 活動由合資各方面共同控制，凡政策決 定涉及財務及營運上之策略，必須合資 各方決議一致通過。 共同控制實體是透過成立一個獨立機構 的合資企業安排，合資者均擁有共同控 制實體之經濟活動。共同控制實體之業 績、資產及負債以權益會計法列入綜合 財務報表。共同控制實體權益按成本值 列入綜合資產負債表，其後會就收購後 集團應佔共同控制實體之淨資產作出調 整，並扣除投資減值虧損入賬。如本集 團應佔合資企業之虧損等於或超過其在 該合資企業之權益，本集團不會確認進 一步虧損，除非本集團已代合資企業承 擔責任或作出付款。 除在建工程外，扣除剩餘估值後，物 業、機器及設備按估計可使用年期以直 線法攤分其成本計算折舊。物業、機器 及設備於備用年度內計算全年折舊。年 度折舊於相關分部之綜合收支內計提。 本集團與其合資企業之間交易的未實現 收益按集團在合資企業權益的數額對 銷。除非交易提供所轉讓資產減值之憑 證，否則未實現虧損亦予以對銷。合資 企業的會計政策已按需要作出改變，以 確保與本集團採用的政策符合一致。 除在建工程外，物業、機器及設備按成 本值減累積折舊及累積減值後入賬。 45 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.5 物業、機器及設備(續) 24.5 Property, Plant and Equipment (Cont'd) 24.6 無形資產24.6 Intangible Assets Amortisation of computer software is charged to the consolidated statement of comprehensive income on a straight-line basis over the assets' estimated useful lives. Full year amortisation is charged for computer software in the year when it is ready for use. Annual amortisation is charged against the consolidated income and expenditure under the respective segments. 開發中的電腦軟件在備用前並不計算攤 銷。 物業、機器及設備項目會在出售後或預 期繼續使用該資產將不會帶來未來經濟 利益時刪除確認。從資產刪除產生之收 益或虧損，相當於所得收款與該資產賬 面值的差額，先通過資本儲備記賬，再 按24.15之會計政策其後轉撥至綜合全面 收益表內。 所購入電腦軟件之成本按購入及使用該 特定軟件所產生的成本為基準資本化， 並按成本減累計攤銷於綜合資產負債表 列賬。 Computer software costs are capitalised on the basis of the costs incurred to acquire and bring to use the specific software and are stated in the consolidated balance sheet at cost less accumulated amortisation. 在建工程按成本值減去任何已確認之減 值虧損入賬及至工程完竣後才攤銷折 舊。完竣工程成本將轉撥至適當之物 業、機器及設備分類。 Construction in progress is stated at cost less any identified impairment loss and is not depreciated until completion of construction. Cost of completed construction works is transferred to appropriate categories of property, plant and equipment. An item of property, plant and equipment is derecognised upon disposal or when no future economic benefits are expected to arise from the continued use of the asset. The gain or loss arising from derecognition of an asset, representing the difference between the sales proceeds and the carrying amount of that asset is first booked through the Capital Reserves and subsequently transferred to the consolidated statement of comprehensive income in accordance with accounting policies 24.15. 電腦軟件之攤銷乃以直線法按資產估計 可使用年期於綜合全面收益表中扣除。 電腦軟件於備用年度內計算全年攤銷。 年度攤銷於相關分部之綜合收支內計 提。 Computer software under development is not amortised until ready for use. 46 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.7 財務資產24.7 Financial Assets (a) 貸款及應收款(a) Loans and receivables (b) 持至到期日投資(b) Held-to-maturity investments At subsequent reporting dates, debt securities that the Group has the intention and ability to hold to maturity (held-to-maturity debt securities) are measured at amortised cost using the effective interest rate method, less any impairment loss recognised to reflect irrecoverable amounts. An impairment loss is recognised in the consolidated statement of comprehensive income when there is objective evidence that the asset is impaired, and is measured as the difference between the investment's carrying amount and the present value of estimated future cash flows discounted at the effective interest rate at initial recognition. Impairment losses are reversed in subsequent periods when an increase in the investment's recoverable amount can be related objectively to an event occurring after the recognition of the impairment loss, subject to the restriction that the carrying amount of the investment at the date the impairment is reversed shall not exceed what the amortised cost would have been had the impairment not been recognised. 貸款及應收款為有固定或可釐定付款且 沒有在活躍市場上報價的非衍生財務資 產。此等款項包括在流動資產內，但到 期日由結算日起計超過12個月者，則分 類為非流動資產。銀行存款視作貸款及 應收款項處理，以銀行存款或現金及等 同現金項目名義列賬。貸款及應收款初 始按公允價值確認其後利用實際利率法 按攤銷成本剔除減值列賬。 持至到期日投資為有固定或可釐定付款 以及固定到期日的非衍生財務資產，而 集團有明確意向及能力持有至到期日。 除非管理層有意在結算日後12個月內出 售該項投資，否則此等資產列在非流動 資產內。 Held-to-maturity investments are non-derivative financial assets with fixed or determinable payments and fixed maturities where the Group has the positive intention and ability to hold to maturity. They are included in non-current assets unless management intends to dispose of the investments within 12 months of the balance sheet date. Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They are included in current assets, except for maturities greater than 12 months after the balance sheet date, which are classified as non-current assets. Bank deposits are treated as loans and receivables and are disclosed as bank deposits or cash and cash equivalents. Loans and receivables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment. The Group classifies its financial assets in the following categories: loans and receivables, held-tomaturity investments, financial assets at fair value through profit or loss and available-for-sale financial assets. The classification depends on the purpose for which the financial assets were acquired. Management determines the classification of its financial assets at initial recognition and re-evaluates this designation at every reporting date. 於其後報表日，集團計劃及有能力持至 到期日的債務證券(持至到期日的債務證 券)，是按攤銷成本以實際利率法釐定， 減去減值虧損所代表之不可收回值。倘 有客觀證據顯示資產出現減值虧損則於 綜合全面收益表中確認。獲確認之減值 乃根據投資之賬面金額與按於初步確認 時計算之實際利率折算之估計未來現金 流量現值之間的差額而釐定。如其後出 現已確認減值之投資可收回升值金額， 則將予以回撥，惟回撥後之賬面金額不 能多於此減值虧損之前已確認攤銷之成 本值。 本集團將其財務資產投資分類如下：貸 款及應收款、持至到期日投資、按公平 值透過損益記賬之財務資產及可供出售 財務資產。分類方式視乎購入投資目的 而定。管理層在初步確認時釐定其投資 的分類，並於每個報告日期重新評估有 關指定。 47 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.7 財務資產(續) 24.7 Financial Assets (Cont'd) (c) (c) (d) 可供出售財務資產(d) Available-for-sale financial assets 可供出售財務資產之公平值變動產生之 未變現盈虧，於權益中確認。倘分類為 可供出售之證券售出或減值時，累計公 平值調整列入綜合全面收益表作為投資 證券的盈虧。 此類別為開始時指定按公平值透過損益 記賬之財務資產，包括上市及非上市證 券及債券。在首次確認後之每個結算日 ，此等金融資產按公平價值列賬。而其 因公允值變動引致的收益或虧損列入當 期之綜合全面收益表中。 This category comprises financial assets designated at fair value through profit or loss at inception. Assets in this category include listed and unlisted securities and debt securities. At the end of the reporting period subsequent to initial recognition, these financial assets are carried at fair value. Gains and losses arising from changes in fair value are recognised in the consolidated statement of comprehensive income. Regular way purchases and sales of investments are recognised on the trade-date – the date on which the Group commits to purchase or sell the financial assets. Financial assets carried at fair value through profit or loss are initially recognised at fair value and transaction costs are expensed in the consolidated statement of comprehensive income. All other financial assets are initially recognised at fair value plus transaction costs. Available-for-sale financial assets are subsequently carried at fair value. 可供出售財務資產為被指定為此類別或 並無分類為任何其他財務資產類別的非 衍生工具。除非管理層有意在結算日後 12個月內出售該項投資，否則此等資產 列在非流動資產內。 Unrealised gains and losses arising from changes in the fair value of available-for-sale financial assets are recognised in equity. When investments classified as available-for-sale are sold or impaired, the accumulated fair value adjustments are included in the consolidated statement of comprehensive income as gains and losses from investment. 按公平值透過損益記賬之財務資產 Financial assets at fair value through profit or loss Available-for-sale financial assets are non-derivatives that are either designated in this category or not classified under other financial assets categories. They are included in non-current assets unless management intends to dispose of the investments within 12 months of the balance sheet date. 常規投資買賣於交易日確認－ 交易日指 本集團承諾買賣該資產之日期。按公平 值計入損益賬的財務資產初步按公平值 確認，而交易費用則在綜合全面收益表 支銷。所有其他財務資產初步按公平值 加交易費用確認。可供出售財務資產其 後按公平值列賬。 48 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.7 財務資產(續) 24.7 Financial Assets (Cont'd) (d) 可供出售財務資產(續) (d) Available-for-sale financial assets (Cont'd) 24.8 應收賬款24.8 24.9 存貨24.9 Inventories 24.10 現金及等同現金24.10 Cash and cash equivalents 現金及等同現金包括存於銀行之手頭現 金及原到期日為三個月或以下之活期存 款。 Cash and cash equivalents comprise cash on hand and deposits available on demand with an original maturity of three months or less. Accounts receivable are recognised initially at fair value and subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for impairment of receivables is established when there is objective evidence that the Group will not be able to collect all amounts due according to the original terms of receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the effective interest rate. Accounts receivable in the consolidated balance sheet are stated net of such provision. 本集團在每個結算日評估是否有客觀證 據證明某項財務資產或某組財務資產經 已減值。對於分類為可供出售的股權證 券，在釐定證券是否已經減值時，會考 慮證券公平值有否大幅或長期跌至低於 其成本值。若可供出售財務資產存在此 等證據，累計虧損─ 計算為購買成本與 當時公平值的差額減去該財務資產之前 在綜合全面收益表確認的任何減值虧損 ─ 從自權益中剔除並在綜合全面收益表 記賬。在綜合全面收益表確認的股權工 具減值虧損不會透過綜合全面收益表撥 回。 The Group assesses at each balance sheet date whether there is objective evidence that a financial asset or a group of financial assets is impaired. In the case of equity securities classified as available-for-sale, a significant or prolonged decline in the fair value of the security below its cost is considered an indicator that the securities are impaired. If any such evidence exists for available-for-sale financial assets, the cumulative loss – measured as the difference between the acquisition cost and the current fair value, less any impairment loss on that financial assets previously recognised in the consolidated statement of comprehensive income – is removed from equity and recognised in the consolidated statement of comprehensive income. Impairment losses recognised in the consolidated statement of comprehensive income on equity instruments are not reversed through the consolidated statement of comprehensive income. Accounts receivable Inventories held for resale in respect of self-financing operations are valued at the lower of cost and net realisable value. Cost is calculated using the weighted average method. 自籌資金業務持作轉售之存貨按成本或 可變現淨值兩者較低者入賬。成本以加 權平均法計算。 應收賬款初步以公平值確認，其後使用 實際利息法按攤銷成本，並扣除減值撥 備計量。當有客觀證據證明本集團未能 按應收款的原有條款收回所有款項時， 即就應收款設定減值撥備。撥備金額為 資產賬面值與按實際利率貼現的估計未 來現金流量的現值兩者的差額。綜合資 產負債表內之應收賬款為扣除該等撥備 後列賬。 49 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.11 應付賬款及應計費用及遞延收益24.11 24.12 撥備24.12 Provisions 24.13 減值24.13 Impairment 24.14 資本儲備24.14 Capital Reserves 資本儲備(反映物業、機器及設備及無形 資產之資金)乃根據以下所述之會計政策 而記賬： 經遞延收益賬資金購置的項目， 按附註24.15(a1)(iii)或24.15(b1)。 Paragraphs 24.15(a1)(iii) or 24.15(b1) for items funded through Deferred Income Account. 以滾存於儲備結餘之未使用收入 購置的項目，按附註24.15(a2) 或 24.15(b2)。 Paragraphs 24.15(a2) or 24.15(b2) for items funded by unspent income retained in reserves. Accounts payable and accruals and deferred income are initially measured at fair value, and are subsequently measured at amortised cost, using the effective interest rate method. 集團因過往事件招致現行責任，可能需 要償還債務。在此情況下，集團需要撥 備確認負債。撥備款額由管理層於結算 日對責任所需作出最適當估計。倘屬重 大影響，以貼現現值計算。 在每年結算日，集團會審查資產的賬面 值，確定資產有沒有出現減值虧損跡 象。若估計資產的可收回金額較賬面值 為低，則須將賬面值調低至可收回金 額。而所產生的減值虧損會即時確認在 綜合全面收益表。 倘若所作出的減值虧損於其後撥回，資 產的賬面值會調高至重估的可收回金額 ，惟調高後之可收回金額不可多於資產 於以前年度未有減值虧損的賬面值。所 回撥的減值虧損會即時確認為收入。 At each balance sheet date, the Group reviews the carrying amounts of its assets to determine whether there is any indication that those assets have suffered an impairment loss. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. Impairment loss is recognised in the consolidated statement of comprehensive income immediately. Accounts payable and accruals and deferred income 應付賬款及應計費用及遞延收益初步按 公平值計算，日後按使用實際利率法計 算的已攤銷成本列賬。 Provisions are recognised when the Group has a present obligation as a result of a past event, and it is probable that the Group will be required to settle that obligation. Provisions are measured at management's best estimate of the expenditure required to settle the obligation at the balance sheet date, and are discounted to present value where the effect is material. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, such that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately. Capital Reserves, representing the funding for property, plant and equipment as well as intangible assets, are accounted for according to the accounting policies as stated in: 50 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.15 收入確認24.15 Recognition of Income (a) 政府資助及撥款(a) Government subventions and grants (a1) 非配對撥款(a1) Other than Matching Grants (i) (i) (ii) (ii) (iii) 用作資本開支的資助及撥款： (iii) in respect of subventions and grants intended for capital expenditure: 運用於有關物業、機器及設 備及無形資產之資本性開支 的款項會轉至資本儲備賬 內。 Amounts incurred in relation to capital expenditure on related property, plant and equipment as well as intangible assets are transferred to the Capital Reserves. 當收到或應收取款項時，款項會先記入 遞延收益賬項，然後再由遞延收益賬項 依從以下方式轉撥： The amounts are initially credited to the Deferred Income Account when the amounts are received or receivable. Amounts are then transferred from the Deferred Income Account in the following manner: 隨後，等同有關物業、機器 及設備的每年折舊費及無形 資產的攤銷費及出售項目之 任何淨收益會由資本儲備轉 入綜合全面收益表內。 Subsequently, each year, an amount equivalent to the depreciation charges of the related property, plant and equipment, amortisation charges of the intangible assets and any net gain of disposed items are transferred from the Capital Reserves to the consolidated statement of comprehensive income. 用作其他開支的資助及撥款：等 同年內已產生開支之款額會轉至 綜合全面收益表內。 整筆經常撥款：除準備用作資本 支出外，所有當年已收取的撥款 將轉至綜合全面收益表內。在整 筆撥款的累積盈餘超越教資會所 規定的最高限額情況下，轉至綜 合全面收益表的數額將扣除需退 還政府的數額。 in respect of subventions and grants intended for other expenditure: amounts equivalent to the expenditure incurred during the year are transferred to the consolidated statement of comprehensive income. in respect of the recurrent block grant: all grants, other than those intended for capital expenditure, received in respect of the year are transferred to the consolidated statement of comprehensive income. In the event that the accumulated surpluses from block grants exceeded the maximum limit permitted by UGC, the transfer to the consolidated statement of comprehensive income will be reduced by any amount refundable to the government. 51 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.15 收入確認(續) 24.15 Recognition of Income (Cont'd) (a) 政府資助及撥款(續) (a) Government subventions and grants (Cont'd) (a2) 配對撥款(a2) Matching Grants 有關隨後為資本支出而使用儲備： (b) 捐款(b) (b1) (b1) (i) (i) 指定捐款 等同出售項目之淨賬面值均由資 本儲備撥回至相關儲備內。 等同物業、機器及設備或無形資 產的成本，將自有關儲備轉撥至 資本儲備。 Each year, an amount equivalent to the depreciation charges for the related property, plant and equipment and amortisation charges for the intangible assets (which have been charged against the consolidated statement of comprehensive income thus reducing the respective reserves) are transferred back from the Capital Reserves to the respective reserves to reflect the reduction in value of the relevant property, plant and equipment and intangible assets. 等同出售項目之淨收益或虧損款 額均由資本儲備轉撥至綜合全面 收益表內。 等同於該物業、機器及設備的折 舊費及無形資產的攤銷費(已於綜 合全面收益表內計提，並把有關 儲備減低)，由資本儲備按年撥回 至有關儲備，以反映相關物業、 機器及設備及無形資產之減值。 Amounts equivalent to the net gain or loss of disposed items are transferred from the Capital Reserves to the consolidated statement of comprehensive income. in respect of donations earmarked for capital expenditure on property, plant and equipment, the same accounting policies as stated in paragraph 24.15(a1)(iii) shall apply. 有關用作物業、機器及設備之資 本性開支的特定捐款，採用附註 24.15(a1)(iii) 所述之相同會計政 策。 當收到或應收取款項時，款項會先記入 遞延收益賬項，然後再由遞延收益賬項 依從以下方式轉撥： The amounts are initially credited to the Deferred Income Account when the amounts are received or receivable. Amounts are then transferred from the Deferred Income Account in the following manner: Donations Amounts equivalent to the net book value of disposed items are transferred back from the Capital Reserves to the respective reserves. 款項在收取或應收時確認為收入。任何 已確認但未使用的收入已轉撥至相關儲 備內。 Amounts equivalent to the expenditure on property, plant and equipment or intangible assets are transferred out of the related reserves to the Capital Reserves. In respect of subsequent spending of the reserves on capital expenditure: Amounts are recognised as income when received or receivable. Any recognised but unspent income is transferred to the related reserves. Earmarked donations 52 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.15 收入確認(續) 24.15 Recognition of Income (Cont'd) (b) 捐款(續) (b) (b1) (b1) (ii) (ii) (b2) (b2) (b3) (b3) (c) 學費、輔助服務及租金收入(c) 款項概於完成服務後確認入賬。 (d) 利息收入(d) Interest income (e) 研究合約收入(e) Research contract income 承諾捐款Pledged donations Donations (Cont'd) The amounts are recognised when services are provided. 財務資產的利息收入以時間基準按結存 金額及適用利率計算。適用利率即按財 務資產預計於可使用年期內收取之估計 未來現金款項折算至該資產賬面淨值之 利率。 Interest income from a financial asset is accrued on a time basis, by reference to the principal outstanding and at the interest rate applicable, which is the rate that exactly discount the estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount. 當研究合約的結果可被準確預測，其收 益將基於已完成的百分比確認入賬；當 其結果不能被準確預測，直至在項目完 成及當阻礙準確預測項目結果的不確定 因素不再存在前，其收益將按已發生而 預期可收回的支出數額確認入賬。特許 權收入則在簽署特許權/ 專利時或在特 許權/ 專利生效期間以直線法計算確認 入賬。 Income from contract research, whose outcome can be reliably estimated, is recognised based on the percentage of completion. Where the outcome of the contract research projects cannot be reliably estimated, project income is recognised to the extent of the expenses incurred that are expected to be recoverable until the completion of projects when the uncertainties that prevent reliable estimation of the outcome of the projects no longer exist. Licencing income is recognised upon assignment of the licence / patent or on a straight line basis over the period of the licence / patent granted. Tuition fees, auxiliary services and rental income 未兌現之承諾捐款不會確認為收入。如 大學未能強制執行某項捐款承諾，則必 須在收到捐款後才確認入賬。 Outstanding pledges are not recognised as income. Where the University does not have the ability to enforce a pledged donation, the donation is recognised when received. 款項在收取或應收時確認為收入。任何 已確認但未使用的收入已轉撥至相關儲 備內。有關隨後為資本支出而使用儲備 ，採用附註24.15(a2)所述之相同會計政 策。 The amounts are recognised as income when received or receivable. Any recognised but unspent income is transferred to the related reserves. In respect of subsequent spending of the reserves on capital expenditure, the same accounting policies as those stated in paragraphs 24.15(a2) shall apply. 其他捐款Other donations 指定捐款(續) Earmarked donations (Cont'd) 有關用於研究項目的特定捐款， 採用附註24.15(a1)(ii)所述之相同會 計政策。 in respect of donations earmarked for research projects, the same accounting policies as stated in paragraph 24.15(a1)(ii) shall apply. 53 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.16 營運租約24.16 Operating Leases (a) 集團為出租者(a) The Group as lessor (b) 集團為承租者(b) The Group as lessee 24.17 退休福利開支24.17 Retirement Benefits Costs 24.18 外幣24.18 Foreign Currencies 外幣交易乃按交易當日的現行匯率換算 為功能貨幣。因上述交易結算而產生的 匯兌損益，以及因按年終匯率兌換以外 幣列值的貨幣資產及負債而產生的匯兌 損益，一概於綜合全面收益表內確認。 Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the consolidated statement of comprehensive income. 來自營運租約的租金收入在有關租約年 期內按直線基準確認。 本集團各實體的財務報表內所包括的項 目，乃按該實體經營所在的主要經濟環 境的貨幣(「功能貨幣」)計算。本綜合財 務報表以港幣呈列，而本集團的呈報貨 幣均為港幣。 Items included in the financial statements of each of the Group's entities are measured using the currency of the primary economic environment in which the entity operates ('the functional currency'). The consolidated financial statements are presented in Hong Kong dollars, which is the Group's presentation currency. 為界定供款退休計劃所支付之款項，於 僱員作出供款所須之服務後列入綜合全 面收益表。 Payments to defined contribution retirement benefit plans are recognised in the consolidated statement of comprehensive income when employees have rendered service entitling them to the contribution. 根據營運租約應付之租金以直線基準按 有關租約之年期於綜合全面收益表內列 賬。作為訂立營運租約誘因之已收及應 收利益，亦按直線基準於有關租約年期 分攤。 Rentals payable under operating leases are charged to the consolidated statement of comprehensive income on a straight-line basis over the term of the relevant lease. Benefits received and receivable as an incentive to enter into an operating lease are also spread on a straight-line basis over the lease term. Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. 54 24. 主要會計政策(續) 24. PRINCIPAL ACCOUNTING POLICIES (Cont'd) 24.18 外幣(續) 24.18 Foreign Currencies (Cont'd) 24.19 分部報告24.19 Segment Reporting Assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet. Income and expenditure for each statement of comprehensive income are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at exchange rates at the dates of the transactions); and all resulting exchange differences are recognised as a separate component of equity. 於各結算日在各資產負債表內呈 列的資產及負債均按該結算日的 收市匯率換算。 各全面收益表內的收入及開支均 按平均匯率換算(除非該平均匯率 並非交易當日現行匯率累計影響 的合理估計，遇有這種情況，收 入及開支概於交易當日的匯率換 算)；及所有因此而產生的匯兌差 額確認為個別組成部分之權益。 所有功能貨幣與呈報貨幣不一的集團實 體(各實體均無極高通賬經濟地區的貨幣) ，其業績及財務狀況均以下列方式換算 為呈報貨幣： The results and financial position of all Group entities (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: 集團採用分部報告顯示主要收入來源及 相關的開支，以更加清晰顯示運作之財 務結果。此分部報告乃自願性披露，香 港財務報告準則第8號之要求並不適用。 In order to present a clearer picture of the financial results of the Group's operations, segment reporting is presented showing the major sources of income for the Group and the expenditure incurred in relation thereto. This is a voluntary disclosure and the requirements of HKFRS 8 are not applicable. 55 25. 已公佈但尚未生效的新準則、詮釋和修訂的潛在影響 香港會計準則第1號(修訂) 財務報表的呈報1 HKAS 1 (Amendment) Presentation of Financial Statements1 香港會計準則第19號(修訂) 員工福利2 HKAS 19 (Amendment) Employee Benefits2 香港會計準則第27號(2011) 獨立財務報表2 HKAS 27 (2011) Separate Financial Statements2 香港會計準則第28號(2011) 聯營公司及合營企業投資2 HKAS 28 (2011) Investments in Associates and Joint Ventures2 香港財務報告準則第9號金融工具3 HKFRS 9 Financial Instruments3 香港財務報告準則第10號合併財務報表2 HKFRS 10 香港財務報告準則第11號合營安排2 HKFRS 11 香港財務報告準則第12號在其他實體權益的披露2 HKFRS 12 香港財務報告準則第13號公平值之計量2 HKFRS 13 1 於2012年7月1日或以後開始之年度期間生效。 Effective for accounting periods beginning on or after 1 July 2012. 2 於2013年1月1日或以後開始之年度期間生效。 Effective for accounting periods beginning on or after 1 January 2013. 3 於2015年1月1日或以後開始之年度期間生效。 Effective for accounting periods beginning on or after 1 January 2015. Joint Arrangements2 Management is currently assessing the impact of the above new standards, amendments and interpretations on the Group's financial statements and is not yet in a position to state whether there will be substantial changes in accounting policies and presentation of the financial statements. 管理層現正就以上新公佈之準則、修訂及詮釋對本集團之影響作出評估，但尚未能說明會計政策及財務報表 之呈列會否出現重大變動。 Fair Value Measurement2 POSSIBLE IMPACT OF NEW STANDARDS, INTERPRETATIONS AND AMENDMENTS PUBLISHED THAT ARE NOT YET EFFECTIVE Disclosure of Interests in Other Entities2 Consolidated Financial Statements2 本集團於此財務報表並無提早應用以下已頒佈但尚未生效，並與其運作有關之新訂及經修訂準則、修訂或詮 釋。 The Group has not early adopted the following new and revised standards, amendments, and interpretations which have been issued and are relevant to its operations but are not yet effective, in these financial statements:- 56