00164中國伽瑪 2012年年报.ppt

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1、China Gamma Group Limited中 國 伽 瑪 集 團 有 限 公 司,(Incorporated in Bermuda with limited liability)(於百慕達註冊成立之有限公司)Stock Code 股份代號:164Annual Report 2012 年報,2,4,16,20,31,42,44,45,46,48,49,50,52,CONTENTS目錄Pages頁次,01,Corporate InformationManagement Discussion and AnalysisBiographical Details of Directors andS

2、enior ManagementCorporate Governance ReportDirectors ReportIndependent Auditors ReportConsolidated Income StatementConsolidated Statement of Comprehensive IncomeConsolidated Balance SheetBalance SheetConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Financia

3、l Statements,公司資料管理層討論及分析董事及高級管理人員履歷企業管治報告董事會報告獨立核數師報告綜合收益表綜合全面收益表綜合資產負債表資產負債表綜合權益變動表綜合現金流量表財務報表附註,Financial SummaryParticulars of Major Properties,財務摘要主要物業詳情,1631642012 年 報,02,CORPORATE INFORMATION公司資料,BOARD OF DIRECTORSExecutive Director:Wong King Shiu,DanielNon-executive Directors:Ma Kwok Hung,Wa

4、rrenChow Siu NgorIndependent Non-executive Directors:Wong Hoi KuenChan Chi YuenHung Hing ManAUDIT COMMITTEEWong Hoi Kuen(Chairman)Chan Chi YuenChow Siu NgorHung Hing ManREMUNERATION COMMITTEEChan Chi Yuen(Chairman)Wong Hoi KuenChow Siu NgorHung Hing ManNOMINATION COMMITTEEHung Hing Man(Chairman)Wong

5、 Hoi KuenChan Chi YuenWong King Shiu,DanielCOMPANY SECRETARYChan Chun LamPRINCIPAL BANKERThe Hongkong and Shanghai Banking Corporation LimitedSOLICITORSHong Kong:Baker&McKenzie23/F.,One Pacific Place88 QueenswayHong KongReed Smith Richards Butler20/F.,Alexandra House18 Chater Road,CentralHong KongAn

6、nual Report 2012,董事會執行董事：黃景兆非執行董事：馬國雄鄒小岳獨立非執行董事：黃海權陳志遠孔慶文審核委員會黃海權（主席）陳志遠鄒小岳孔慶文薪酬委員會陳志遠（主席）黃海權鄒小岳孔慶文提名委員會孔慶文（主席）黃海權陳志遠黃景兆公司秘書陳俊霖主要往來銀行香港上海滙豐銀行有限公司律師香港：貝克麥堅時律師事務所香港金鐘道88號太古廣場一期23樓禮德齊伯禮律師行香港中環遮打道18號歷山大廈20樓,03,CORPORATE INFORMATION公司資料,Peoples Republic of China:King&Wood Mallesons9/F.,Hutchison House10

7、Harcourt RoadCentralHong KongBermuda:Conyers Dill&Pearman2901 One Exchange Square8 Connaught PlaceCentralHong KongAUDITORTing Ho Kwan&ChanCertified Public Accountants(Practising)9/F.,Tung Ning Building249-253 Des Voeux Road CentralHong KongREGISTERED OFFICEClarendon HouseChurch StreetHamilton HM11Be

8、rmudaPRINCIPAL PLACE OF BUSINESS INHONG KONGSuite 2602,26/F.,Sino Plaza255-257 Gloucester Road,Causeway BayHong KongBERMUDA PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICEButterfield Fulcrum Group(Bermuda)LimitedRosebank Centre11 Bermudiana RoadPembroke HM 08BermudaHONG KONG BRANCH SHARE REGISTRARAND T

9、RANSFER OFFICETricor Secretaries Limited26/F.,Tesbury Centre28 Queens Road EastHong Kong,中華人民共和國：金杜律師事務所香港中環夏愨道10號和記大廈9樓百慕達：康德明律師事務所香港中環康樂廣場8號交易廣場1期2901室核數師丁何關陳會計師行執業會計師香港德輔道中249-253號東寧大廈9樓註冊辦事處Clarendon HouseChurch StreetHamilton HM11Bermuda香港主要營業地點香港銅鑼灣告士打道255-257號信和廣場26樓2602室百慕達主要股份過戶登記處Butterfie

10、ld Fulcrum Group(Bermuda)LimitedRosebank Centre11 Bermudiana RoadPembroke HM 08Bermuda香港股份過戶登記處分處卓佳秘書商務有限公司香港皇后大道東28號金鐘匯中心26樓2012 年 報,04,MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析,The board of directors(the“Board”)of China Gamma GroupLimited(the“Company”)announces the annual results of theCompany an

11、d its subsidiaries(together,the“Group”)for thefinancial year ended 31 March 2012.FINANCIAL REVIEWFor the year ended 31 March 2012,turnover of the Groupamounted to approximately HK$26,726,000,representinga decrease of approximately 12%from HK$30,473,000 inthe previous year ended 31 March 2011,mainly

12、due to adecrease in the turnover from the property development,rental and sales business amid the slowdown of the propertymarket in China.Loss from operations for the year amountedto HK$52,698,000(2011:HK$26,498,000).Net lossattributable to equity shareholders of the Company for theyear increased to

13、 HK$56,198,000(2011:HK$29,203,000).Included in the 2011 financial results was a gain on disposalof a subsidiary,北京友聯房地產開發有限公司(Beijing YoLuan Property Development Company Limited)in February2011 which amounted to HK$48,924,000.Included in the2012 financial results was a start-up cost from the Groupsr

14、are resources division and costs related to its first project inthe rare earth refinery and processing business in China whichtogether amounted to HK$25,787,000(2011:HK$Nil).Afteradjusting for such exceptional changes,the operating resultsfor the Groups existing business lines have shown substantial

15、improvements.The Group has not been involved in thetrading of any derivative financial instruments such as equityor currency accumulators.Loss per share was HK1.76 cents(2011:HK1.01 cents).As at 31 March 2012,total assets and net assets of theGroup were HK$1,077,098,000(2011:HK$204,748,000)and HK$36

16、0,413,000(2011:HK$105,142,000)respectively.The increase in total assets and net assets of the Group wasmainly due to the acquisition of a 54%attributable interest in冕寧縣茂源稀土科技有限公司(Mianning Mao Yuan Rare EarthTechnology Company Limited)in December 2011.Included inthe total assets of the Group was inta

17、ngible asset amountedto HK$533,785,000(2011:HK$Nil)in relation to technicalknow-how technology to convert rare earth concentrates to avariety of rare earth products,resulting from the acquisition.The Board does not recommend the payment of dividend forthe year ended 31 March 2012.Annual Report 2012,

18、中國伽瑪集團有限公司（本公司）之董事會（董事會）謹此宣佈本公司及其附屬公司（統稱本集團）於截至二零一二年三月三十一日止財務年度之全年業績。財務回顧截 至 二 零 一 二 年 三 月 三 十 一 日 止 年 度，本集團之營業額由截至二零一一年三月三十一日止上年度之30,473,000港元減少約12%至 約26,726,000港 元，主 要 原 因 是隨中國物業市場發展放緩而令來自物業發展、租賃及銷售業務的收入減少，年內營運 虧 損 為52,698,000港 元（二 零 一 一 年：26,498,000港元）。年內本公司權益股東應佔虧損淨額升至56,198,000港元（二零一一年：29,203,0

19、00港元）。二零一一年二月，本集團出售一間附屬公 司北京友聯房地產開發有限公司，所得之收益48,924,000港元，已計入二零一一年年度之財務業績。而二零一二年財務業績則計入，來自本集團稀有資源部門的啟動成本及其於中國稀土深加工業務之首個項目之相關成本25,787,000港元（二零一一年：零港元）。倘若撇除上述特別變動，本集團現有業務之經營業績已作出重大改善。本集團並無涉及任何衍生金融工具如股票或外匯累計期 權 之 買 賣。每 股 虧 損 為1.76港 仙（二 零一一年：1.01港仙）。於 二 零 一 二 年 三 月 三 十 一 日，本 集 團 之總 資 產 及 淨 資 產 分 別 為1,07

20、7,098,000港 元（二 零 一 一 年：2 0 4,7 4 8,0 0 0 港元）及360,413,000港 元（二 零 一 一 年：105,142,000港 元）。本 集 團 之 總 資 產 及淨資產增加主要由於二零一一年十二月收購 冕 寧 縣 茂 源 稀 土 科 技 有 限 公 司 之54%應佔權益所致。本集團之總資產包括收購事項所產生之有關將稀土精礦轉化成各類稀土產品之技術專門知識之無形資產533,785,000港元（二零一一年：零港元）。董事會不建議就截至二零一二年三月三十一日止年度派付股息。,05,MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及

21、分析,BUSINESS REVIEWDuring the financial year under review,the Group has set upits rare resources division and engaged in the exploration ofopportunities in rare resources projects.The Groups first rare resources project is related to theentrance of the Group into the rare earth refinery andprocessing

22、 business in China which the Group believes,willbecome the major core business of the Group.In addition,the Group is engaged in gamma ray irradiationservices,property development,rental and sales,trading ofbuilding materials and provision of renovation services,andsecurities trading and investment.R

23、are Resources BusinessThe Groups rare resources division was set up to exploreand expand into strategic rare resources business with greatpotentials and applications in China.As disclosed in the announcement of the Company dated 11May 2011,the Group proposed to acquire a rare earth refineryand proce

24、ssing business to broaden the income base of theGroup and increase shareholders value.Following the approvalby the shareholders of the acquisition at the special generalmeeting held on 8 September 2011,the Group completedthe acquisition of a 54%attributable interest in 冕寧縣茂源稀土科技有限公司(Mianning Mao Yua

25、n Rare Earth TechnologyCompany Limited)in December 2011.Through thisacquisition,the Group will be able to capture the opportunitiesin the rare earth market in China and this business willbecome the major core business of the Group.Rare earth elements are scarce natural resources whichare essential t

26、o certain high technology,green energy anddefense-related technology products.Demand for rare earthelements has been growing at high single-digit since 2005with the exception of 2008-2009 when demand shrankresulting from global financial crisis.In 2011,global rare earthelements production was about

27、130,000 tonnes.China is byfar the dominant supplier of rare earth elements,accountingfor over 95%of the global market share while Sichuanprovince accounts for 24%to 30%of the countrys totalproduction.As the Chinese government took more measuresduring the year to restrict exploration,production and e

28、xportof rare earth elements to protect this strategic resource,expectation of reduced supply drove rare earth elements prices,業務回顧於回顧財務年度，本集團已成立其稀有資源部門，並致力於探尋稀有資源項目之機會。本集團之首個稀有資源項目與進軍中國之稀土深加工業務相關，本集團相信，該業務將成為本集團之主要核心業務。此外，本集團亦從事伽瑪射線照射服務、物業發展、租賃及銷售、建築材料貿易及提供裝修服務，以及證券買賣及投資。稀有資源業務本集團成立稀有資源部門以探索及拓展至於中國具

29、有巨大潛力及應用之稀有及策略性資源業務。誠如本公司於二零一一年五月十一日刊發之公布所述，本集團建議收購稀土深加工業務以擴大本集團之收入基礎及增加股東之價值。股東於二零一一年九月八日舉行之股東特別大會上批准收購事項後，本集團於二零一一年十二月完成收購於冕寧縣茂源稀土科技有限公司之54%應佔權益。透過該收購事項，本集團將得以把握進軍中國稀土 市場的機會，該業務將成為本集團之主要核心業務。稀土元素為特定高科技、環保能源科技及國防相關科技產品不可或缺之稀缺自然資源。自二零零五年起，對稀土元素之需求呈高水平的單位數增長，惟二零零八至二零零九年除外，鑑於當時需求受全球金融危機影響而收縮。於二零一一年，全球

30、稀土 元 素 產 量 約 為130,000噸。中 國 目 前 是全球稀土元素之主要供應商，佔全球市場份額超過95%，而四川省佔國家總產量之24%至30%。由於中國政府於本年度採取更多措施限制稀土元素的勘探、生產及出口以保護此策略性資源，減少供應之預期推動稀土元素價格於二零一一年第二及第三季度大幅增加。,to increase significantly in the second and third quarters of2011.2012 年 報,06,所致。,MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析,BUSINESS REVIEW,(contin

31、ued),業務回顧（續）,Rare Resources Business(continued)冕寧縣茂源稀土科技有限公司(Mianning Mao Yuan RareEarth Technology Company Limited)is one of the largest rareearth refinery and processing companies in China.It operatesa major rare earth refinery and processing plant situatedin Mianning,Sichuan province with a desig

32、ned processingcapacity of 10,000 tonnes of rare earth concentrate perannum.After the completion of the acquisition,the plantstarted trial production in February 2012.Turnover generatedfrom the rare earth refinery and processing business in theyear was approximately HK$6,000 from samples sales whicha

33、ccounted for approximately 0.02%of the Groups totalturnover.Separately,on 3 May 2011,the Group entered into amemorandum of understanding in relation to a proposedacquisition of a controlling interest in a mining company whosebusiness scope includes development of vanadium mines andmining,processing

34、and sale of vanadium.The memorandumof understanding has expired during the year under review.The Group,after taking into consideration of numerous factors,including terms of the agreement,market condition andeconomic environment,has decided not to proceed with theproposed acquisition.This segment re

35、ported a loss of approximately HK$25,787,000(2011:HK$Nil).This was mainly due to the amortisation ofthe intangible asset of the rare earth refinery and processingbusiness which amounted to HK$13,537,000(2011:HK$Nil),and the operating costs of the refinery as well as the operatingand project developm

36、ent costs of our Groups rare resourcesdivision.Gamma Ray Irradiation ServicesDuring the financial year ended 31 March 2012,the Groupsgamma ray irradiation business,through 淄博利源高科輻照技術有限公司(Zibo Liyuan Gamma Ray Technologies Co.Limited)which is owned as to 80%by the Company,hasrecorded a turnover of ap

37、proximately HK$9,404,000(2011:HK$6,966,000)that accounted for approximately 35%ofthe Groups total turnover.This segment reported a profit ofapproximately HK$1,080,000(2011:HK$297,000).The jumpin operating profit was attributable to an increase in processingcapacity during the year,successful marketi

38、ng strategy andoperating leverage.Annual Report 2012,稀有資源業務（續）冕寧縣茂源稀土科技有限公司是中國其中一間最大的稀土深加工公司。其於四川省冕寧縣經營一家主要稀土深加工廠，設計年加工能力為10,000噸稀土精礦。收購事項完成後，該工廠於二零一二年二月開始試產。年內稀土深加工業務產生之營業額約為6,000港元（來自樣品買賣），約佔本集團總營業額之0.02%。此外，於二零一一年五月三日，本集團訂立一份備忘錄，內容有關建議收購一間礦業公司之控股權益，其業務範圍包括開發釩礦以及開採、加工處理及銷售釩。備忘錄已於回顧年內到期。考慮協議條款、市況及經

39、濟環境等多項因素後，本集團已決定不進行該建議收購事項。該 分 部 錄 得 虧 損 約25,787,000港 元（二 零一一年：零港元），主要由於稀土深加工業務無形資產攤銷13,537,000港元（二零一一年：零港元），深加工廠之經營成本以及本集團稀有資源部門之經營及項目發展成本伽瑪射線照射服務於截至二零一二年三月三十一日止財務年度，本集團透過淄博利源高科輻照技術有限公司（本公司擁有其80%權益）經營的伽碼 射 線 照 射 業 務 錄 得 營 業 額 約9,404,000港元（二零一一年：6,966,000港元），約佔本集團總營業額之35%。該分部之溢利約1,080,000港 元（二 零 一 一

40、 年：297,000港元）。經 營 溢 利 提 升 乃 由 於 本 年 度 產 能 提高、成功之市場推廣策略及經營槓杆所致。,07,MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析,BUSINESS REVIEW,(continued),業務回顧（續）,Property Development,Rental and SalesTurnover generated from the property development,rentaland sales was approximately HK$16,450,000 for the yearunder rev

41、iew(2011:HK$22,385,000).Segment loss wasHK$7,793,000(2011:HK$23,092,000).The decrease inturnover was mainly attributable to the slowing down of themarket generally in view of the macro economic controlmeasures imposed by the Chinese government during theyear as well as the decrease in property price

42、.The decreasein segmental loss was due to the fact that in last financial yearthere were substantial amount of expenses incurred by theprimary land development project held by 北京友聯房地產開發有限公司(Beijing Yo Luan Property Development CompanyLimited)which was disposed of in February 2011.The Group has an en

43、tire interest in a land parcel ofapproximately 5,800 square meters located in Phase IIIPhoenix Town,No.500 Hongjin Avenue,Yubei District,Chongqing,the PRC with a total saleable area of approximately35,000 square meters mainly for residential purpose.TheGroup also has commercial properties including

44、shops and carpark lots located in Phase I and Phase II at the same locationwhich were being for sale in the period.Though the residentialproject in Yubei District is still at the preliminary stage ofdevelopment,we do not rule out the possibilities of divestingthis project if there are any good oppor

45、tunities.Trading of Building Materials and Provision of RenovationServicesThe operating environments of building materials tradingand renovation services remained weak during the yearunder review.This segments turnover decreased 23%to approximately HK$866,000(2011:HK$1,122,000)and suffered a loss of

46、 approximately HK$392,000(2011:HK$1,523,000),which was mainly attributable to an increasein cost of sales.Securities Trading and InvestmentDuring the year under review,the global stock marketsremained volatile amid the influence of European sovereigndebt crisis and concerns over global economic reco

47、very.Due to both unrealised and realised gains on equityinvestments held for trading,this segment reported a profit ofHK$14,999,000(2011:loss of HK$6,238,000).,物業發展、租賃及銷售回顧年度內來自物業發展、租賃及銷售之營業額約為16,450,000港元（二零一一年：22,385,000港 元）。分 部 虧 損 為7,793,000港元（二零一一年：23,092,000港元）。營業額減少主要由於中國政府於年內實施之宏觀經濟調控政策使市場普遍

48、放緩以及物業價格降低所致。分部虧損減少乃由於上個財務年度北京友聯房地產開發有限公司（已於二零一一年二月被出售）持有之土地開發項目引致之大額開支所致。本集團擁有位於中國重慶市渝北區紅錦大道500號 鳳 凰 城3期 一 幅 面 積 約5,800平 方米土地之全部權益，該幅土地之可銷售面積 約35,000平 方 米，主 要 作 住 宅 用 途。本集團亦擁有位於該項目第一期及第二期之商用物業（包括商舖及停 車位），並已於本期間發售。儘管位於渝北區之住宅項目仍處於初步發展階段，惟倘出現任何理想商機，本集團可能會出售此項目。建築材料貿易及提供裝修服務於回顧年度，建築材料貿易及裝修服務之營 運 環 境 仍

49、然 艱 難。該 分 部 之 營 業 額 減少23%至 約866,000港 元（二 零 一 一 年：1,122,000港 元），錄 得 虧 損 約392,000港元（二零一一年：1,523,000港元），主要由於銷售成本增加所致。證券買賣及投資於回顧年度，由於受到歐洲主權債務危機之影響及對全球經濟復甦狀況之關注，全球股票市場仍然動盪不穩。由於持作買賣股權投資產生未變現及已變現收益，該分部錄得溢利14,999,000港元（二零一一年：虧損6,238,000港元）。2012 年 報,08,MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分析,PROSPECTThe G

50、roups rare resources division will continue to focus onthe development and explorations of opportunities in the areaof rare resources in China and around the world which theGroup believes,will have strategic applications in China.Thecompletion of the acquisition of the rare earth refinery andprocess