01212利福国际 中期报告.pdf
Stock Code 股份代號: 1212 Interim Report 2012中期報告 Lifestyle International Holdings Limited 20/F., East Point Centre, 555 Hennessy Road Causeway Bay, Hong Kong 利福國際集團有限公司 香港銅鑼灣軒尼詩道555號 東角中心20樓 Telephone: (852) 2833 8338 Facsimile: (852) 2831 2932 infolifestylehk.com.hk www.lifestylehk.com.hk Showcasing your Life and Style Contents 目錄 1利福國際集團有限公司 二零一二年中期報告 2Corporate Information 企業資料 4Financial Highlights Six Months Ended 30 June, 2012 財務摘要截至二零一二年六月三十日止六個月 Financial Results 財務業績 5Condensed Consolidated Statement of Comprehensive Income 簡明綜合全面收益表 6Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表 8Condensed Consolidated Statement of Changes in Equity 簡明綜合權益變動表 9Condensed Consolidated Statement of Cash Flows 簡明綜合現金流量表 10Notes to the Condensed Consolidated Financial Statements 簡明綜合財務報表附註 29Independent Review Report 獨立審閱報告 30Interim Dividend and Closure of Register of Members 中期股息及截止過戶登記 31Financial Review 財務回顧 34Review of Operations 業務回顧 37Outlook and Plan 展望與計劃 39Directors and Chief Executives Interests 董事及行政總裁之權益 42Interests of Substantial Shareholders 主要股東權益 44Details of Options Granted by the Company 本公司授予購股權之詳情 46Additional Information 其他資料 48Acknowledgement 致謝 2Lifestyle International Holdings Limited Interim Report 2012 Corporate Information 企業資料 Board of Directors Executive Directors Mr. Lau Luen-hung, Thomas (Managing Director) Mr. Doo Wai-hoi, William Non-executive Directors Dato Dr. Cheng Yu-tung (Chairman) Dr. Cheng Kar-shun, Henry Mr. Lau Luen-hung, Joseph Ms. Lau Yuk-wai, Amy Independent Non-executive Directors Mr. Lam Siu-lun, Simon (ACA, FTIHK) Mr. Cheung Yuet-man, Raymond The Hon. Shek Lai-him, Abraham Mr. Hui Chiu-chung, Stephen Chief Financial Officer Mr. Poon Fuk-chuen, Terry (CPA) Company Secretary Mr. Poon Fuk-chuen, Terry (CPA) Authorised Representatives Mr. Lau Luen-hung, Thomas Mr. Poon Fuk-chuen, Terry (CPA) Audit Committee Mr. Lam Siu-lun, Simon (ACA, FTIHK) (Chairman of the Audit Committee) Mr. Cheung Yuet-man, Raymond The Hon. Shek Lai-him, Abraham Mr. Hui Chiu-chung, Stephen Remuneration Committee Mr. Lam Siu-lun, Simon (ACA, FTIHK) (Chairman of the Remuneration Committee) Mr. Lau Luen-hung, Thomas The Hon. Shek Lai-him, Abraham Mr. Hui Chiu-chung, Stephen Nomination Committee Mr. Lam Siu-lun, Simon (ACA, FTIHK) (Chairman of the Nomination Committee) Mr. Lau Luen-hung, Thomas The Hon. Shek Lai-him, Abraham Mr. Hui Chiu-chung, Stephen 董事會 執行董事 劉鑾鴻先生（董事總經理） 杜惠愷先生 非執行董事 拿督鄭裕彤博士（主席） 鄭家純博士 劉鑾雄先生 劉玉慧女士 獨立非執行董事 林兆麟先生(ACA, FTIHK) 張悅文先生 石禮謙議員 許照中先生 財務總監 潘福全先生(CPA) 公司秘書 潘福全先生(CPA) 授權代表 劉鑾鴻先生 潘福全先生(CPA) 審核委員會 林兆麟先生(ACA, FTIHK) （審核委員會主席） 張悅文先生 石禮謙議員 許照中先生 薪酬委員會 林兆麟先生(ACA, FTIHK) （薪酬委員會主席） 劉鑾鴻先生 石禮謙議員 許照中先生 提名委員會 林兆麟先生(ACA, FTIHK) （提名委員會主席） 劉鑾鴻先生 石禮謙議員 許照中先生 3利福國際集團有限公司 二零一二年中期報告 註冊辦事處 Cricket Square Hutchins Drive, P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands 總辦事處及主要營業地點 香港 銅鑼灣 軒尼詩道555號 東角中心20樓 主要往來銀行 中國銀行 （香港） 有限公司 核數師 德勤關黃陳方會計師行 律師 禮德齊伯禮律師行 薛馮鄺岑律師行 香港股份過戶登記處 （分處） 香港中央證券登記有限公司 香港灣仔皇后大道東183號 合和中心17樓1712至1716室 開曼群島股份過戶登記處 （總處） Butterfield Fulcrum Group (Cayman) Limited Butterfield House, 68 Fort Street P.O. Box 609 Grand Cayman KY1-1107 Cayman Islands 股份資料 上市地點：香港聯合交易所有限公司主板 股份代號：1212 每手買賣單位：500股 財政年度終結日：十二月三十一日 於二零一二年六月三十日股價：16.92港元 於二零一二年六月三十日市值：281.55億港元 網址 www.lifestylehk.com.hk Registered Office Cricket Square Hutchins Drive, P.O. Box 2681 Grand Cayman KY1-1111 Cayman Islands Head Office and Principal Place of Business 20th Floor, East Point Centre 555 Hennessy Road Causeway Bay Hong Kong Principal Banker Bank of China (Hong Kong) Limited Auditors Deloitte Touche Tohmatsu Solicitors Reed Smith Richards Butler Sit, Fung, Kwong and Amendments to HKAS 12 “Deferred tax: Recovery of underlying assets” Amendments to HKAS 12 “Deferred tax: Recovery of underlying assets” Under the amendments to HKAS 12 “Deferred tax: Recovery of underlying assets”, investment properties that are measured using the fair value model in accordance with HKAS 40 “Investment property” are presumed to be recovered through sale for the purposes of measuring deferred taxes, unless the presumption is rebutted in certain circumstances. The Groups investment properties are situated in the Peoples Republic of China (“PRC”) and Hong Kong, which are measured using the fair value model. For the purpose of application of the amendments to HKAS 12, the directors reviewed the Groups investment properties portfolios as at 31 December, 2011 and concluded that the Groups investment properties situated in the PRC and Hong Kong amounting to HK$618,914,000 (2010: HK$1,051,380,000) and HK$53,250,000 (2010: HK$52,480,000) respectively are not held under a business model whose objective is to consume substantially all of the economic benefits embodies in the investment properties over time, and that the presumption set out in the amendments to HKAS 12 is not rebutted. 11利福國際集團有限公司 二零一二年中期報告 簡明綜合財務報表附註（續） 2. 主要會計政策（續） 香港會計準則第12號修訂 遞延稅項：收回 相關資產（續） 另一方面，本集團就其餘在中國金額於二零 一一年十二月三十一日為475,097,000港元 （二 零一零年：505,158,000港元） 之投資物業推 翻有關假設，因為該等物業為可折舊性及按 隨時間消耗大部分含於該等投資物業經濟利 益之商業模式持有。因此，應用香港會計準 則第12號修訂並沒有對其餘投資物業的遞延 稅項負債產生影響。 在應用香港會計準則第12號修訂下，本集團 已確認在中國的投資物業因公平價值變動產 生的遞延稅項，此乃由於出售該等物業時需 交付土地增值稅和所得稅所致。此前，本集 團在按物業賬面值通過使用回收的基礎並未 就於中國的投資物業因公平價值變動涉及的 土地增值稅的遞延稅項作出確認。 追溯應用香港會計準則第12號修訂導致本集 團 的 遞 延 稅 項 負 債 於 二 零 一 一 年 十二月 三十一日增加31,642,000港元。其相應的調 整已確認於保留溢利中。 上述會計政策變動的影響總結 上述會計政策變更對本集團的財務狀況的影 響在緊接上一財政年度結束時，即二零一一 年十二月三十一日，如下： Notes to the Condensed Consolidated Financial Statements (continued) 2. Principal accounting policies (continued) Amendments to HKAS 12 “Deferred tax: Recovery of underlying assets” (continued) On the other hand, the Group has rebutted the presumption in respect of the Groups remaining investment properties situated in the PRC (other than those mentioned above) amounting to HK$475,097,000 as at 31 December, 2011 (2010: HK$505,158,000) as such properties are depreciable and are held within a business model whose objective is to consume substantially all of the economic benefits embodied in the investment properties over time. Accordingly, the adoption of amendments to HKAS 12 has no impact on the deferred tax liabilities in respect of the remaining properties. As a result of the application of the amendments to HKAS 12, the Group has recognised deferred taxes on changes in fair value of the investment properties in the PRC as those properties are subject to land appreciation taxes and income taxes upon disposal. Previously, the Group did not recognise deferred taxes on land appreciation tax due to changes in fair value of investment properties in the PRC on the basis that the entire carrying amounts of the properties were recovered through use. The amendments to HKAS 12 have been applied retrospectively, resulting an increase in the Groups deferred tax liabilities amounting to HK$31,642,000 as at 31 December, 2011. The corresponding adjustment has been recognised in retained profits. Summary of the effect of the above change in accounting policy The effect of the change in accounting policy described above on the financial positions of the Group as at the end of the immediately preceding financial year, i.e. 31 December, 2011, is as follows: As at 31 December, 2011 (originally stated)Adjustments As at 31 December, 2011 (restated) 二零一一年 十二月三十一日 （原先呈列）調整 二零一一年 十二月三十一日 （重列） HK$000HK$000HK$000 千港元千港元千港元 Deferred tax liabilities遞延稅項負債(220,595)(31,642)(252,237) Total effects on net assets對淨資產全部影響(220,595)(31,642)(252,237) Retained profits, total effects on equity保留溢利，對權益全部影響6,920,243(31,642)6,888,601 12Lifestyle International Holdings Limited Interim Report 2012 Financial Results (continued) 財務業績 （續） 簡明綜合財務報表附註（續） 2. 主要會計政策（續） 上述會計政策變動的影響總結 （續） 上述會計政策變更對本集團的財務狀況的影 響在上一期間初時，即二零一一年一月一日， 如下： 3. 營業額及分部資料 營業額指本集團期內就向外界客戶售出貨品 的已收及應收款項減折扣及銷售相關稅項、 來自特許專櫃銷售之收益、服務收入以及租 金收入，茲分析如下： Notes to the Condensed Consolidated Financial Statements (continued) 2. Principal accounting policies (continued) Summary of the effect of the above change in accounting policy (continued) The effect of the change in accounting policy described above on the financial positions of the Group as at the beginning of the comparative period, i.e. 1 January, 2011, is as follows: As at 1 January, 2011 (originally stated)Adjustments As at 1 January, 2011 (restated) 二零一一年 一月一日 （原先呈列）調整 二零一一年 一月一日 （重列） HK$000HK$000HK$000 千港元千港元千港元 Deferred tax liabilities遞延稅項負債(198,576)(48,402)(246,978) Total effects on net assets對淨資產全部影響(198,576)(48,402)(246,978) Retained profits, total effects on equity保留溢利，對權益全部影響5,057,400(48,402)5,008,998 3. Turnover and segment information Turnover represents the amount received and receivable for goods sold by the Group to outside customers, net of discounts and sales related taxes, income from concessionaire sales, services income and rental income during the period, and is analysed as follows: Six months ended 30 June, 截至六月三十日止六個月 20122011 二零一二年二零一一年 HK$000HK$000 千港元千港元 Sales of goods direct sales貨品銷售 直接銷售1,478,8341,358,328 Income from concessionaire sales來自特許專櫃銷售之收益1,048,032942,275 Service income服務收入55,15656,324 Rental income租金收入64,01848,093 2,646,0402,405,020 13利福國際集團有限公司 二零一二年中期報告 Notes to the Condensed Consolidated Financial Statements (continued) 3. Turnover and segment information (continued) The following is an analysis of the Groups revenue and results by reportable and operating segments for the period under review: Six months ended 30 June, 2012 Hong KongPRC Consolidated total 香港中國綜合總額 HK$000HK$000HK$000 千港元千港元千港元 Segment revenue分部收益 External sales 對外銷售2,092,765553,2752,646,040 Result業績 Segment result 分部業績909,236144,0621,053,298 Investment income 投資收入138,816 Fair value changes on investment properties 投資物業公平值變動 4,704 Share of profit of a jointly controlled entity 應佔一家共同控制實體 溢利15,527 Share of profits of associates 應佔聯營公司溢利126,084 Finance costs 融資成本(135,405) Profit before taxation 除稅前溢利1,203,024 Six months ended 30 June, 2011 Hong KongPRC Consolidated total 香港中國綜合總額 HK$000HK$000HK$000 千港元千港元千港元 Segment revenue分部收益 External sales 對外銷售1,899,817505,2032,405,020 Result業績 Segment result 分部業績813,154123,614936,768 Investment income 投資收入47,059 Fair value changes on investment properties 投資物業公平值變動 7,121 Share of profit of a jointly controlled entity 應佔一家共同控制實體 溢利14,765 Share of profits of associates 應佔聯營公司溢利84,711 Finance costs 融資成本(20,538) Profit before taxation 除稅前溢利1,069,886 Segment profit represents the profit earned by each segment without share of profits of associates and a jointly controlled entity, fair value changes on investment properties, investment income and finance costs. This is the measure reported to the board of directors of the Company for the purposes of resource allocation and performance assessment. 簡明綜合財務報表附註（續） 3. 營業額及分部資料（續） 以下為本集團於回顧期內按匯報及經營分部 劃分之收益及業績分析： 截至二零一二年六月三十日止六個月 截至二零一一年六月三十日止六個月 分部溢利指各分部賺取之溢利，惟未計及應 佔聯營公司及一家共同控制實體之溢利、投 資物業公平值變動、投資收入及融資成本。 此乃向本公司董事會就資源分配及表現評估 作出報告之計量方式。 14Lifestyle International Holdings Limited Interim Report 2012 Financial Results (continued) 財務業績 （續） Notes to the Condensed Consolidated Financial Statements (continued) 4. Cost of sales Six months ended 30 June, 截至六月三十日止六個月 20122011 二零一二年二零一一年 HK$000HK$000 千港元千港元 The cost of sales are analysed as follows:銷售成本分析如下： Cost of goods sold貨品銷售成本1,047,922966,446 Other cost of sales其他銷售成本43,34342,767 1,091,2651,009,213 5. Investment income Six months ended 30 June, 截至六月三十日止六個月 20122011 二零一二年二零一一年 HK$000HK$000 千港元千港元 Interest income on bank deposits銀行存款利息收入89,12512,776 Dividend income from financial assets at fair value through profit or loss 按公平值計入損益之金融資產之 股息收入2,7768,975 Change in fair value from公平值變動 financial assets at fair value through profit or loss 按公平值計入損益之 金融資產34,55826,313 derivative financial instruments 衍生投資工具12,357(1,005) 138,81647,059 6. Finance costs Six months ended 30 June, 截至六月三十日止六個月 20122011 二零一二年二零一一年 HK$000HK$000 千港元千港元 Interest on:以下項目之利息： Bank borrowings and overdrafts: 銀行借貸及透支 wholly repayable within five years 須於五年內悉數償還65,13318,322 wholly repayable after five years 須於五年後悉數償還2,3544,535 Bonds: 債券： wholly repayable within five years 須於五年內悉數償還82,173 Others其他9198 149,75122,955 Less: Amount capitalised減：資本化金額(14,346)(2,417) 135,40520,538 簡明綜合財務報表附註（續） 4. 銷售成本 5. 投資收入 6. 融資成本 15利福國際集團有限公司 二零一二年中期報告 Notes to the Condensed Consolidated Financial Statements (continued) 7. Taxation Six months ended 30 June, 截至六月三十日止六個月 20122011 二零一二年二零一一年 HK$000HK$000 千港元千港元 Current tax:本期稅項： Hong Kong 香港145,079135,104 PRC Enterprise Income Tax 中國企業所得稅40,33641,018 185,415176,122 Deferred tax:遞延稅項： Current year 即年13,95410,029 199,369186,151 Hong Kong Profits Tax is provided at 16.5% (six months ended 30 June, 2011: 16.5%) of the estimated assessable profit for the period. PRC Enterprise Income Tax is provided at 25% (six months ended 30 June, 2011: 25%) on the estimated assessable profit for the period. 8. Profit for the period Six months ended 30 June, 截至六月三十日止六個月 20122011 二零一二年二零一一年 HK$000HK$000 千港元千港元 Profit for the period has been arrived at after charging: 本期間溢利已扣除下列項目： Depreciation折舊109,128104,943 Equity-settled share-based payment expense股本結算股份付款開支2211,393 Release of prepaid lease payments預付租賃款項轉出5,3755,349 簡明綜合財務報表附註（續） 7. 稅項 香港利得稅按本期間之估計應課稅溢利按 16.5% （截至二零一一年六月三十日止六個月： 16.5%） 稅率作出撥備。中國企業所得稅按本 期間之估計應課稅溢利按25% （截至二零一一 年六月三十日止六個月：25%） 稅率作出撥備。 8. 本期間溢利 16Lifestyle International Holdings Limited Interim Report 2012 Financial Results (continued) 財務業績 （續） 簡明綜合財務報表附註（續） 9. 股息 於本中期期間內，本公司已向本公司擁有人 宣告及派付截至二零一一年十二月三十一日 止年度之終期股息每股25.7港仙 （二零一一年： 截至二零一零年十二月三十一日止年度為每 股19.0港仙） 。於本中期期間宣派及支付之終 期股息合共429,003,000港元 （二零一一年： 319,268,000港元） 。 於中期期間結束後，董事會宣告派付於二零 一二年八月二十四日名列本公司股東名冊之 本公司擁有人中期現金股息每股21.8港仙 （二 零一一年：19.2港仙） 。 10. 每股盈利 本公司擁有人應佔每股基本及攤薄盈利乃根 據以下數據計算： Notes to the Condensed Consolidated Financial Statements (continued) 9. Dividends During the current interim period, a final dividend of HK cents 25.7 per share in respect of the year ended 31 December, 2011 (2011: HK cents 19.0 per share in respect of the year ended 31 December, 2010) was declared and paid to the owners of the Company. The aggregate amount of the final dividend declared and paid in the current interim period amounted to HK$429,003,000 (2011: HK$319,268,000). Subsequent to the end of the interim period, the board of directors has declared that an interim dividend of HK cents 21.8 in cash per share (2011: HK cents 19.2) will be paid to the owners of the Company whose names appear in the Register of Members on 24 August, 2012. 10. Earnings per share The calculation of the basic and diluted earnings per share attributable to the owners of the Company is based on the following data: Six months ended 30 June, 截至六月三十日止六個月 20122011 二零一二年二零一一年 HK$000HK$000 千港元千港元 Earnings盈利 Profit for the period attributable to owners of the Company for the purposes of basic and diluted earnings per share 就計算每股基本及攤薄盈利 而言之本公司擁有人應佔 本期間溢利909,885807,309 30 June, 2012 30 June, 2011 二零一二年 六月三十日 二零一一年 六月三十日 000000 千股千股 Number of shares股份數目 Weighted average number of ordinary shares for
