新華聯合投資：年報 2022

240093ANNUALREPORT 年報2022（於開曼群島註冊成立並於百慕達存續之有限公司）CHINAUNITEDVENTUREINVESTMENTLIMITED(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)1ANNUALREPORT 2022年報2022香港聯合交易所有限公司（「聯交所」）GEM之特色GEM之定位乃為相較其他在聯交所上市之公司帶有更高投資風險之中小型公司提供一個上市之市場。

有意投資者應了解投資於該等公司之潛在風險，並應經過審慎周詳考慮後方作出投資決定。

由於在GEM上市之公司一般為中小型公司，在GEM買賣之證券可能會較於主板買賣之證券承受更大市場波動風險，同時無法保證在GEM買賣之證券會有高流通量之市場。

香港交易及結算所有限公司及聯交所對本報告之內容概不負責，對其準確性或完整性亦不發表任何聲明，並明確表示概不就因本報告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。

本報告的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關新華聯合投資有限公司（前稱輝煌科技（控股）有限公司）（「本公司」，連同其附屬公司，統稱「本集團」）的資料；本公司董事（「董事」）願就本報告的資料共同及個別地承擔全部責任。

各董事在作出一切合理查詢後，確認就其所深知及確信，本報告所載資料在各重大方面均屬準確完備，沒有誤導或欺詐成份，且並無遺漏其他事項，致令本報告所載任何陳述或本報告產生誤導。

CHARACTERISTICSOFGEMOFTHESTOCK EXCHANGEOFHONGKONGLIMITED (THE “EXCHANGE”)GEM has been positioned as a market designed to accommodate small and mid-sized companies to which a higher investment risk may be attached than other companies listed on the Exchange. Prospective investors should be aware of the potential risks of investing in such companies and should make the decision to invest only after due and careful consideration.Given that the companies listed on GEM are generally small and mid-sized companies, there is a risk that securities traded on GEM may be more susceptible to high market volatility than securities traded on the Main Board and no assurance is given that there will be a liquid market in the securities traded on GEM.Hong Kong Exchanges and Clearing Limited and the Exchange take no responsibility for the contents of this report, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this report.This report, for which the directors (the “Directors”) of China United Venture Investment Limited (formerly known as GLORY MARKHI-TECH (HOLDINGS) LIMITED) (the “Company”, together with its subsidiaries, the “Group”) collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of the Exchange (the “GEMListing Rules”) for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief, the information contained in this report is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this report misleading.China United Venture Investment Limited新華聯合投資有限公司2Contents目錄Pages頁次CORPORATEINFORMATION 3公司資料CHAIRMAN’SSTATEMENT 6主席報告書MANAGEMENTDISCUSSIONANDANALYSIS 10管理層論述及分析BIOGRAPHICALDETAILSOFDIRECTORSANDSENIORMANAGEMENT 23董事及高級管理人員簡歷DIRECTORS’ REPORT 30董事會報告CORPORATEGOVERNANCEREPORT 42企業管治報告INDEPENDENTAUDITOR’SREPORT 62獨立核數師報告CONSOLIDATEDSTATEMENTOFPROFITORLOSSANDOTHERCOMPREHENSIVEINCOME 70綜合損益及其他全面收益表CONSOLIDATEDSTATEMENTOFFINANCIALPOSITION 72綜合財務狀況報表CONSOLIDATEDSTATEMENTOFCHANGESINEQUITY 74綜合權益變動表CONSOLIDATEDSTATEMENTOFCASHFLOWS 76綜合現金流量表NOTESTOTHECONSOLIDATEDFINANCIALSTATEMENTS 79綜合財務報表附註FINANCIALSUMMARY 216財務概要Contents目錄3ANNUALREPORT 2022年報2022Corporate Information公司資料執行董事王漓峰先生（副主席）范小令先生倪弦先生（於二零二二年三月四日獲委任）陳曉鋒博士（於二零二二年二月十七日獲委任及於二零二二年十二月二十九日辭任）于三龍先生（於二零二二年十二月二十九日辭任）李瑞蘭女士（於二零二二年五月六日辭任）蘇光先生（行政總裁）（於二零二二年五月一日獲委任及於二零二二年十二月二十九日辭任）非執行董事黃斌先生（主席）（於二零二二年二月二十日獲委任）獨立非執行董事甄嘉勝醫生隋福祥先生（於二零二二年八月十七日獲委任）方志偉博士（於二零二二年八月十七日辭任）馮申博士（於二零二二年三月四日卸任）吳樂斌先生（於二零二二年二月二十日獲委任）許琳先生（於二零二二年三月四日獲委任及於二零二二年十二月二十九日辭任）公司秘書文潤華先生（於二零二二年四月八日辭任）譚式為先生（於二零二二年四月八日獲委任及於二零二二年十一月十四日辭任）曾曉東先生（於二零二二年十一月十四日獲委任）授權代表王漓峰先生譚式為先生（於二零二二年四月八日獲委任及於二零二二年十一月十四日辭任）曾曉東先生（於二零二二年十一月十四日獲委任）監察主任王漓峰先生EXECUTIVEDIRECTORSMr. Wang Li Feng (Vice-Chairman)Mr. Fan XiaolingMr. Ni Xian (appointed on 4 March 2022)Dr. Chen Xiaofeng (appointed on 17 February 2022 and resigned on 29 December 2022)Mr. Yu Sanlong (resigned on 29 December 2022)Ms. Lee Jui-lan (resigned on 6 May 2022)Mr. Su Guang (Chief executive) (appointed on 1 May 2022 and resigned on 29 December 2022)NON-EXECUTIVEDIRECTORMr. Huang Bin (Chairman) (appointed on 20 February 2022)INDEPENDENTNON-EXECUTIVEDIRECTORSDr. Yan Ka ShingMr. Sui Fuxiang (appointed on 17 August 2022)Dr. Fong Chi Wai, Alex (resigned on 17 August 2022)Dr. Feng Shen (ceased on 4 March 2022)Mr. Wu Lebin (appointed on 20 February 2022)Mr. Xu Lin (appointed on 4 March 2022 and resigned on 29 December 2022)COMPANYSECRETARYMr. Man Yun Wah (resigned on 8 April 2022)Mr. Tam Sik Wai (appointed on 8 April 2022 and resigned on 14 November 2022)Mr. Tsang Shiao Tung, Joseph (appointed on 14 November 2022)AUTHORISEDREPRESENTATIVESMr. Wang Li FengMr. Tam Sik Wai (appointed on 8 April 2022 and resigned on 14 November 2022)Mr. Tsang Shiao Tung, Joseph (appointed on 14 November 2022)COMPLIANCEOFFICERMr. Wang Li FengCorporate Information公司資料China United Venture Investment Limited新華聯合投資有限公司4Corporate Information公司資料審核委員會甄嘉勝醫生（主席）隋福祥先生（於二零二二年八月十七日獲委任）馮申博士（於二零二二年三月四日卸任）許琳先生（於二零二二年三月四日獲委任及於二零二二年十二月二十九日辭任）方志偉博士（於二零二二年八月十七日辭任）薪酬委員會甄嘉勝醫生（主席）隋福祥先生（於二零二二年八月十七日獲委任）王漓峰先生馮申博士（於二零二二年三月四日卸任）方志偉博士（於二零二二年三月四日獲委任及於二零二二年八月十七日辭任）提名委員會王漓峰先生黃斌先生（主席）（於二零二二年三月四日獲委任）甄嘉勝醫生隋福祥先生（於二零二二年八月十七日獲委任）馮申博士（於二零二二年三月四日卸任）方志偉博士（於二零二二年三月四日獲委任及於二零二二年八月十七日辭任）許琳先生（於二零二二年三月四日獲委任及於二零二二年十二月二十九日辭任）執行委員會王漓峰先生（主席）范小令先生甄嘉勝醫生隋福祥先生（於二零二二年八月十七日獲委任）李瑞蘭女士（於二零二二年五月六日辭任）于三龍先生（於二零二二年十二月二十九日辭任）馮申博士（於二零二二年三月四日卸任）方志偉博士（於二零二二年三月四日獲委任及於二零二二年八月十七日辭任）戰略及發展委員會王漓峰先生（主席）甄嘉勝醫生隋福祥先生（於二零二二年八月十七日獲委任）馮申博士（於二零二二年三月四日卸任）方志偉博士（於二零二二年三月四日獲委任及於二零二二年八月十七日辭任）AUDITCOMMITTEEDr. Yan Ka Shing (Chairman)Mr. Sui Fuxiang (appointed on 17 August 2022)Dr. Feng Shen (ceased on 4 March 2022)Mr. Xu Lin (appointed on 4 March 2022 and resigned on 29 December 2022)Dr. Fong Chi Wai, Alex (resigned on 17 August 2022)REMUNERATIONCOMMITTEEDr. Yan Ka Shing (Chairman)Mr. Sui Fuxiang (appointed on 17 August 2022)Mr. Wang Li FengDr. Feng Shen (ceased on 4 March 2022)Dr. Fong Chi Wai, Alex (appointed on 4 March 2022 and resigned on 17 August 2022)NOMINATIONCOMMITTEEMr. Wang Li FengMr. Huang Bin (Chairman) (appointed on 4 March 2022)Dr. Yan Ka ShingMr. Sui Fuxiang (appointed on 17 August 2022)Dr. Feng Shen (ceased on 4 March 2022)Dr. Fong Chi Wai, Alex (appointed on 4 March 2022 and resigned on 17 August 2022)Mr. Xu Lin (appointed on 4 March 2022 and resigned on 29 December 2022)EXECUTIVECOMMITTEEMr. Wang Li Feng (Chairman)Mr. Fan XiaolingDr. Yan Ka ShingMr. Sui Fuxiang (appointed on 17 August 2022)Ms. Lee Jui-lan (resigned on 6 May 2022)Mr. Yu Sanlong (resigned on 29 December 2022)Dr. Feng Shen (ceased on 4 March 2022)Dr. Fong Chi Wai, Alex (appointed on 4 March 2022 and resigned on 17 August 2022)STRATEGYANDDEVELOPMENTCOMMITTEEMr. Wang Li Feng (Chairman)Dr. Yan Ka ShingMr. Sui Fuxiang (appointed on 17 August 2022)Dr. Feng Shen (ceased on 4 March 2022)Dr. Fong Chi Wai, Alex (appointed on 4 March 2022 and resigned on 17 August 2022)5ANNUALREPORT 2022年報2022Corporate Information公司資料註冊辦事處Clarendon House2 Church StreetHamilton HM 11Bermuda總辦事處及主要營業地點香港中環夏愨道12號美國銀行中心18樓1801-1802室（自二零二二年五月十一日起生效）主要股份過戶登記處Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda香港股份過戶登記處聯合證券登記有限公司香港北角英皇道338號華懋交易廣場2期33樓3301-04室（自二零二二年九月二十日起生效）主要往來銀行中國銀行（香港）有限公司創興銀行有限公司招商永隆銀行核數師上會栢誠會計師事務所有限公司（前稱尤尼泰栢淳（香港）會計師事務所有限公司）股份代號8159網址.twREGISTEREDOFFICEClarendon House2 Church StreetHamilton HM 11BermudaHEADOFFICEANDPRINCIPALPLACEOF BUSINESSRoom 1801-1802,18/F.Bank of America TowerNo.12 Harcourt RoadCentral, Hong Kong(with effect from 11 May 2022)PRINCIPALREGISTRARANDTRANSFEROFFICEConyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11BermudaHONGKONGSHAREREGISTRARSAND TRANSFEROFFICEUnion Registrars LimitedSuites 3301-04,33/FTwo Chinachem Exchange Square338 King’s RoadNorth PointHong Kong(with effect from 20 September 2022)PRINCIPALBANKERBank of China (Hong Kong) LimitedChong Hing Bank LimitedCMBWing Lung Bank Ltd AUDITORPrim Hong Kong and Shanghai Limited (formerly known as UniTax Prism (HK) CPALimited) STOCKCODE8159WEBSITE.twChina United Venture Investment Limited新華聯合投資有限公司6Chairman’s Statement主席報告書致各位股東：本人謹此向　閣下提呈新華聯合投資有限公司（前稱輝煌科技（控股）有限公司）及其附屬公司截至二零二二年十二月三十一日止年度（「本年度」或「二零二二年度」）之年報。

於二零二二年，本集團錄得收入約287.9百萬港元，較二零二一年減少約15.2%。

於本年度，本集團錄得本公司擁有人應佔虧損約61.9百萬港元（二零二一年：溢利50.0百萬港元）。

我們的電子產品業務於本年度為本集團帶來收入約272.6百萬港元（二零二一年：約317.2百萬港元），較二零二一年十二月三十一日止年度下降約14.1%。

此乃由於受到全球COVID-19疫情爆發對全球電子產品消費者需求產生的不利影響。

從COVID-19恢復到疫情前狀況是一個漫長、不平衡且充滿不確定性的過程。

總體設計及建築設計業務本年度錄得收入約8.3百萬港元（二零二一年：約22.0百萬港元），較二零二一年減少約62.3%。

於本年度，COVID-19的爆發持續影響集團的設計業務的發展，中國房地產市場受到COVID-19疫情的影響，而當地經濟活動受限於各項防疫政策。

除了所觀察到從COVID-19緩慢復蘇之外，該分部亦受到其客戶、中國房地產發展商所遭遇的危機、債務水平高企及流動性問題的影響。

董事正在密切跟進有關問題，並對建築設計業務的日後業績保持謹慎樂觀。

本集團的財務狀況保持穩健。

於二零二二年十二月三十一日，本集團之流動資產淨值、現金及銀行結餘以及本公司擁有人應佔之權益分別約為70.2百萬港元、106.5百萬港元及111.6百萬港元。

在2022年，儘管我們的商業模式將持續受到COVID-19的不利影響，董事於2022年持續推進對兩項主要的業務的商業計劃，以促進本公司於2022年有機增長。

To Our Shareholders,I would like to present to the shareholders the annual report of China United Venture Investment Limited (formerly known as GLORYMARKHI-TECH (HOLDINGS) LIMITED) and its subsidiaries for the year ended 31 December 2022 (the “Year” or “Year 2022”).In 2022, the Group recorded revenue of approximately HK$287.9 million, representing a decrease of approximately 15.2% as compared to 2021. This year, the Group recorded a loss attributable to owners of the Company of approximately HK$61.9 million (2021: profit of HK$50.0 million).Our electronics business recorded a revenue of approximately HK$272.6 million (2021: approximately HK$317.2 million) in the Year, representing a decrease of approximately 14.1% as comparing to the year ended 31 December 2021. This business segment was affected by the outbreak of the COVID-19 pandemic globally which has imposed adverse impact on the consumer demand for electronic products globally. The recovery to pre-pandemic situation from the COVID-19 is a long, uneven and uncertain process.The master-planning and architectural design business recorded revenue of approximately HK$8.3 million during the Year (2021: approximately HK$22.0 million), representing a decrease of approximately 62.3% as compared with 2021. During the Year, the outbreak of COVID-19 continue to affect the development of the design business of the Group that the PRC real estates market is affected by the aftermath of COVID-19 pandemic and the local economic activities were restricted due to various epidemic prevention policies. On top of an observed slow recovery from COVID-19, this segment is also affected by the crises experienced by its customers’, the China real estate developers’, high debt level and liquidity issues. The Directors are monitoring the issues closely and remaining cautiously optimistic to the results of the Architectural Design Business in the future.The financial position of the Group remains strong. As at 31 December 2022, the Group had net current assets, cash and bank balances and equity attributable to owners of the Company amounted to approximately HK$70.2 million, HK$106.5 million and HK$111.6 million.In 2022, despite the fact that our business model remained subject to adverse impact of COVID-19, the Directors continued advancing the business plans that have been implemented for the two businesses in 2022 in order to facilitate organic growth of the Company in 2022.Chairman’s Statement主席報告書7ANNUALREPORT 2022年報2022Chairman’s Statement主席報告書於二零二二年在疫情期間，我們希望拓展新業務，分散風險，特別是涉足文旅版塊和金融版塊。

關於文旅版塊：我們於2022年3月與北京北文時代文化有限公司（「北文時代」）建立合作關係。

北文時代是一家專注於文化產業內容運營的公司，主要從事影視文化產業園和城市文化消費綜合體的投資與運營。

我們與北文時代建立了數字文化產業的戰略合作關係，形成了產業聯盟。

雙方充分利用各自的專長、資源和優勢，共用資源、互補優勢，實現互惠互利，並在北文時代經營的數位文化產業分支領域展開深度合作。

作為北文時代的獨家設計服務提供者，我們將為其提供建築設計、工業設計、景觀設計、平面設計、陳列設計和創意策劃等設計服務，以及「設計＋文化」、「設計＋產業」和「設計＋元宇宙」等創新服務。

我們希望通過進軍文化旅遊產業板塊，為原有設計板塊創造更多發展機會。

關於金融領域：我們於2022年3月完成了對以下公司的股權收購：國投（香港）控股有限公司的100%股份，其持有青島國投鼎成資產管理有限公司（「青島國投」）的51%股份。

青島國投是一家與青島市級國有企業有關聯的公司，專門協助山東省企業進行並購、重組、海外上市及融資，並計劃在中國發展不良資產管理及本金投資。

During the COVID-19 in 2022, we intended to diversify risks by expanding new businesses, especially the cultural tourism segment and finance segment.Cultural tourism segment:We established cooperation with Beiwen Times (Beijing) Culture Limited* (北京北文時代文化有限公司) (“Beiwen Times”) in March 2022. Beiwen Times is a cultural industry content operator, and principally engaged in the investment and operation of film and television cultural industry parks and the operation of urban cultural consumption complexes. We have established strategic cooperation with Beiwen Times in the digital cultural industry, leading to an industrial alliance. Both sides agreed to share resources and complementary advantages for mutual benefits by leveraging their respective expertise, resources and advantages, and initiate deep cooperation in sub-fields of the digital cultural industry in which Beiwen Times operates. As the exclusive design service provider of Beiwen Times, we will provide Beiwen Times design services, including architectural design, industrial design, landscape design, graphic design, display design and creative planning, and innovative services including “Design + Culture”, “Design + Industry” and “Design + Metaverse”. We hope to create more development opportunities for our original design segment by entering the cultural tourism industry.Finance segment:We completed the acquisition of equity interests in the following companies in March 2022: State Venture Investment (HK) Holdings Limited (國投（香港）控股有限公司), which held 51% shares of Qingdao Guotou Dingcheng Asset Management Company Limited* (青島國投鼎成資產管理有限公司) (“Qingdao Guotuo”), a company associated with a state-owned enterprise at Qingdao Municipal level, which is specialised in assisting enterprises in Shandong Province in mergers and acquisitions, restructuring, overseas listing and financing and plans to develop distressed asset management and principal investment in the PRC.China United Venture Investment Limited新華聯合投資有限公司8Chairman’s Statement主席報告書We acquired Radiant Assets Management Limited (瑞金資產管理有限公司) (“Radiant Assets”) in March 2022. Through Radiant Assets, the Group may get the opportunities to cooperate and form strategic partnerships with China Great Wall AMC (International) Limited (“China Great Wall”), One Belt One Road Financial Limited (一帶一路金融有限公司) and GCL-Poly Energy Holdings Limited, which is beneficial to the Company’s adoption of PIPE plus PE model in forming funds and promoting investments. The Group intended to invest in distressed assets by using strategies adopted by investment banks and financial institutions and explored its business opportunities in the management and investment of non-performing assets.In addition, we acquired State Innovation (Zhuhai) Investment Co., Ltd.* (新華國科（珠海）投資有限公司), with the intention to integrate the company into the Group’s private equity fund management platform in the PRC to develop private equity fund-related business.In terms of improving the overall operational efficiency of the Group, we proceeded with introducing cloud services in September 2022 in order to support our electronics business and building design business. In our opinion, we could benefit from the cloud service as follows: Management enhancement: As we operate our electronics segment business in the PRC, HKSAR and Taiwan region, the dedicated cloud service platform would greatly enhance our management efficiency and response speed; Online sales: As the electronics segment needs to improve its online sales platform, cloud service products would benefit the segment by expanding the market, broadening the customer base, and diversifying the sales channels, thus reducing operating costs; Easier development: Cloud service products such as computing resources and development tools would enable development teams in the electronics segment to build, test and deploy new products more efficiently and respond to market demands more quickly, thereby maintaining a competitive edge.我們於2022年3月收購瑞金資產管理有限公司（「瑞金資產」），本集團計劃通過瑞金資產將有機會與中國長城資產（國際）控股有限公司（「中國長城」）、一帶一路金融有限公司及保利協鑫能源控股有限公司合作並形成戰略夥伴關係，這有利於本集團採用PIPE加PE模式組建基金及推動投資。

本集團計劃採用投資銀行及金融機構的策略，藉以投資不良資產，並探索其在不良資產管理及投資方面的商機。

此外，我們收購新華國科（珠海）投資有限公司，銳意將其打造成為本集團在中國大陸境內私募股權基金管理平臺，發展私募股權基金相關業務。

在提升集團整體運營效率方面，為了支援我們的電子產品業務及建築設計業務，我們於2022年9月開始引入雲服務。

我們認為雲服務能帶來的助力包括：加強管理：電子板塊業務橫跨大陸、香港特區及臺灣地區三地，專屬的雲服務平臺將極大提升公司的管理效率和回應速度；網上銷售：電子板塊需要強化其網上銷售平臺，雲服務產品可說明拓展市場、擴大客戶基礎、增加銷售管道的多樣性，並降低運營成本；促進開發：雲服務產品（例如計算資源和開發工具）可以說明電子板塊的開發團隊更高效地構建、測試和部署新產品，更快速地回應市場需求，從而保持競爭優勢。

9ANNUALREPORT 2022年報2022Chairman’s Statement主席報告書 Analysis and forecast: Cloud storage, cloud service and artificial intell igence could empower analysis on production data, sales data, market trends and other data, allowing the electronics segment to better understand market demand, forecast sales trends and make more informed and effective decisions based on such information. Less expenditures: Capital expenditures would be reduced since there would be no need to purchase expensive hardware for the purchased cloud service if we rent infrastructure from the cloud service provider. Disaster resistance: Cloud service could enhance security and disaster tolerance of information and resist disasters and accidents so that data and applications could be restored quickly in case of accidents, thus ensuring the continuity of business would not be affected.Looking forward, the Directors remain conf ident and optimistic about the Group’s performance in the coming year in the face of the challenging and volatile market environment. I would like to take this opportunity to express my sincere gratitude to all our customers, suppliers, business partners, employees and shareholders for their valuable support for the Group. I will lead the team to continue to work hard. The Group will forge ahead to maximise returns for shareholders.Mr. Wang Li FengCHAIRMAN31 March 2024分析預測：雲存儲、雲服務和人工智慧可加強生產資料、銷售資料、市場趨勢等資料分析，有助於電子板塊更深入地理解市場需求，預測銷售趨勢，並基於這些資訊做出更加明智和有效的決策。

節省支出：購買雲服務後，可以租用雲服務提供者之基礎設施，從而無需再購買昂貴的硬體設施，降低資本支出。

抵禦災難：雲服務能提高公司資訊的安全性和容災能力，抵禦災難、事故；如不幸遇上事故，資料和應用程式也可以迅速恢復，確保企業業務的連續性不受影響。

展望未來，面對市場環境挑戰和不穩定性，董事對來年本集團的業績仍保持信心和樂觀。

本人藉此機會向所有客戶、供應商、業務夥伴、員工及股東一直以來對本集團的寶貴支持致以由衷感謝。

本人將帶領團隊繼續努力，本集團將砥礪前行，為股東爭取最大回報。

主席王漓峰先生二零二四年三月三十一日China United Venture Investment Limited新華聯合投資有限公司10Management Discussion and Analysis 管理層論述及分析業務回顧本集團主要從事電子產品業務及建築設計業務。

本集團金融服務業務的發展正處於初步階段。

在電子產品業務方面，本集團從事設計、製造及銷售主要用於電腦、電腦周邊產品、手機周邊產品、多媒體電子消費品、通訊產品、汽車電子組件、線束及醫療器材之接駁產品之業務（「電子產品業務」）。

在建築設計業務方面，本集團專注於總體規劃工作、設計總包工作及建築方案設計工作（「建築設計業務」）。

在金融服務業務方面，本集團計劃於中港兩地提供全方位金融服務，包括但不限於基金發行、資產管理、不良資產管理及保險經紀等，並擬定開展跨境初創投資及資金管理業務，以期於粵港澳大灣區推動電子相關科學園、知識產權及相關先進科技的發展（「金融服務業務」）。

財務回顧收入電子產品業務截至二零二二年十二月三十一日止年度，該業務分部為本集團貢獻收益約272.6百萬港元（二零二一年：317.2百萬港元），較截至二零二一年十二月三十一日止年度減少約14.1%。

儘管該業務分部繼續受益於全球經濟復甦，但我們產品的分銷渠道增加及董事實施的有效策略持續增加我們的銷售訂單及收益，COVID-19對全球電子產品消費需求造成的不平衡及不確定不利影響抵銷了增長。

BUSINESSREVIEWThe Group is principally engaged in electronic business and architectural design business. The development of the Group’s financial services business is at an initial stage. In the electronic business, the Group designs, manufactures and sells connectivity products mainly for computers, computer peripheral products, mobile phones peripheral products, multi-media consumable electronic products, communication products, automobile electronics accessories, wire harness and medical equipment (the “Electronics Business”). In the architectural design business, the Group focuses on master-planning work, general design work and architectural schemat ic des ign work ( the “Architectural Design Business”). In the financial services business, the Group aims at providing full range of financial services, including but not l imited to fund issuance, asset management, distressed asset management and insurance brokerage, etc. in Hong Kong and the PRC and intends to develop cross-border venture investment and fund management business with a view to promoting electronics-related science park, intellectual properties rights and related advanced technology in the Guangdong-Hong Kong-Macao Greater Bay Area (the “Financial Services Business”).FINANCIALREVIEWRevenueThe Electronics BusinessDuring the year ended 31 December 2022, this business segment contributed revenue of approximately HK$272.6 million to the Group (2021: HK$317.2 million), representing a decrease of approximately 14.1% as compared with year ended 31 December 2021. Although this business segment continues to benefit from the recovery of the global economy, the increased distribution channels for our products and the effective strategies implemented by our Directors to increase our sales order and revenue continuously, uneven and uncertain adverse impact due to COVID-19 on the consumer demand for electronic products globally offset the increase.Management Discussion and Analysis管理層論述及分析11ANNUALREPORT 2022年報2022Management Discussion and Analysis 管理層論述及分析建築設計業務COVID-19的爆發持續影響本集團的設計業務的發展。

由於中國房地產市場受到COVID-19疫情的影響，該業務分部於本年度貢獻收入約8.3百萬港元（二零二一年同期：約22.0百萬港元），較二零二一年同期減少約62.3%。

除了所觀察到的COVID-19時代緩慢復蘇之外，該分部亦受到其客戶、中國房地產發展商所遭遇的危機、債務水平高企及流動性問題的影響。

董事正在密切跟進有關問題，並對建築設計業務的日後業績保持謹慎樂觀。

金融服務業務此分部始於二零二二年，仍處於起步階段，主要參與併購活動。

於截至二零二二年十二月三十一日止年度，該分部收入7.0百萬港元。

該分部錄得經營溢利1.2百萬港元。

營業額本集團於本年度錄得總營業額約287.9百萬港元（二零二一年同期：約339.3百萬港元），較二零二一年同期減少約15.1%。

毛利本集團於本年度錄得毛利約34.2百萬港元，較二零二一年同期的約21.0百萬港元增加約62.9%。

這主要是由於全球供應鏈中斷得以改善和我們電子產品業務的原材料價格下滑。

毛利率自二零二一年同期的約6.2%增至本年度的約11.9%。

The Architectural Design BusinessThe outbreak o f COVID-19 cont inued to a f fect the development of the design business of the Group. With the PRC real estates market being affected by the aftermath of COVID-19 pandemic, this business segment contributed revenue of approximately HK$8.3 million during the Year (PY2021: approximately HK$22.0 million), representing a decrease of approximately 62.3% as compared with PY2021. On top of an observed slow recovery from COVID-19, this segment is also affected by the crises experienced by its customers’, the China real estate developers’, high debt level and liquidity issues. The Directors are monitoring the issues closely and remaining cautiously optimistic to the results of the Architectural Design Business in the future.The Financial Services BusinessThis segment commenced in 2022 and was still at a start-up stage and mainly involved in mergers and acquisitions. During the year ended 31 December 2022, this segment generated HK$7.0 million during the year ended 31 December 2022. The segment recorded an operating profit of HK$1.2 million.TurnoverThe Group recorded a total turnover of approximately HK$287.9 mil l ion for the Year (PY2021: approximately HK$339.3 million), representing a decrease of approximately 15.1% as compared with PY2021.Gross profitThe Group recorded a gross profit of approximately HK$34.2 million for the Year, representing an increase of approximately 62.9% as compared to approximately HK$21.0 mil l ion for PY2021. This was mainly attributable to the improve in global supply chain disruption and dropping in raw material prices for our Electronics Business. The gross profit margin increased from approximately 6.2% for PY2021 to approximately 11.9% for the Year.China United Venture Investment Limited新華聯合投資有限公司12Management Discussion and Analysis 管理層論述及分析其他收益於本年度，本集團錄得其他收益約6.1百萬港元（二零二一年同期：約4.7百萬港元）。

於本年度，已收到的租金收入較二零二一年同期略為增加。

其他收益及虧損於二零二一年六月十六日，本集團與獨立第三方深圳恒冠訂立協議，以出售東莞亞聯的全部股權，代價為人民幣101,000,000元（相當於約122,210,000港元）。

本集團於二零二一年十月二十日通過股東特別大會上的一項決議案取得股東批准。

因此，於截至二零二一年十二月三十一日止年度，上述出售交易的收益約90.0百萬港元已於其他收益及虧損中入賬。

於本年度，其他虧損主要包括因美元升值而產生的匯兌虧損。

除上文所披露者外，於本年度，概無其他有關附屬公司、聯營公司及合資企業的重大收購或出售事項。

財務成本於本年度，由於本集團為營運資金籌集新借款，本集團錄得利息開支約3.9百萬港元（二零二一年同期：1.9百萬港元）。

餘下財務成本指已產生的租賃負債利息開支，並於截至二零二二年十二月三十一日止年度因上述交易完成後確認新的使用權資產全年影響以及銀行及其他借款增加而有所增加。

銷售及分銷開支於本年度，銷售及分銷開支約為8.0百萬港元（二零二一年同期：約8.5百萬港元），減少5.7%，主要是由於經營網上商店產生的費用及為促進銷售的額外營銷投入。

Other incomeThe Group earned other income of approximately HK$6.1 mill ion during the Year (PY2021: approximately HK$4.7 million. There was a slight increase in rental income received for the Year as compared to PY2021.Other gains and lossesOn 16 June 2021, the Group entered into an agreement with Shenzhen Hengguan, an independent third party, the entire equity interest of DAL at a consideration of RMB101,000,000 (equivalent to approximately HK$122,210,000). The Group obtained its shareholders’ approval on 20 October 2021 via a resolution at a special general meeting. Accordingly, a gain on the said disposal transaction of approximately HK$90.0 million was recorded in other gains and losses for the year ended 31 December 2021.During the Year, the other losses consist primari ly of exchange loss incurred as USD appreciates.Saved as disclosed above, there were no other material acquisitions or disposals of subsidiaries, associates and joint ventures during the Year.Finance costsDuring the Year, as the Group raised new borrowings for working capital, the Group recorded interest expenses of approximately HK$3.9 million (PY2021: HK$1.9 million). The remaining finance costs represent the interest expense on lease liabilities incurred and an increase was noted during the year ended 31 December 2022 as a result of the full year effect of the new right-of-use assets recognised following the completion of the above transaction in 2021 and increased in bank and other borrowings.Selling and distribution expensesThe selling and distribution expenses were approximately HK$8.0 million for the Year (PY2021: approximately HK$8.5 million), decreased by 5.7%, which was mainly attributable to the expenses incurred for operating the online stores and additional marketing efforts used to boost sales.13ANNUALREPORT 2022年報2022Management Discussion and Analysis 管理層論述及分析行政開支於本年度，行政開支約為75.1百萬港元（二零二一年同期：約67.9百萬港元），增加約10.6%。

行政開支增加乃主要由於( i )我們中國內地生產設施的租金開支增加；(i i)建築設計業務的員工薪金及福利增加；(i i i)本公司開展新金融服務業務產生的員工成本以及法律及專業成本；及(iv)採購雲服務以提升集團整體運營效率。

重大投資於截至二零二二年十二月三十一日止年度，本集團收購若干非上市投資及上市證券，以實現資本升值及現金流入。

獨立估值師在考慮（其中包括）大量應收貸款違約的可能性後，對該等投資和證券於二零二二年十二月三十一日的公平值進行評估。

公平值調整所產生的損益將計入綜合損益表。

詳情請參閱綜合財務報表附註22。

於二零二二年三月四日，本集團收購國投（香港）控股有限公司的100%股份，其持有青島國投鼎成資產管理有限公司（「青島國投」）的51%股權。

收購時，本集團根據對青島國投資產公平值進行的獨立估值，確認青島國投客戶關係及商譽的無形資產。

詳情請參閱綜合財務報表附註23及24。

根據本公司日期為二零二二年三月四日的公告所披露之與北文時代（北京）文化有限公司（「北文時代」）訂立的獨家戰略合作協議以及其他業務目標（如設立電商平台），本集團向獨立第三方預付若干貸款應收款項，以獲取利息收入。

詳情請參閱綜合財務報表附註25及27。

所得稅開支本集團於本年度錄得所得稅開支約0.2百萬港元（二零二一年同期：3.1百萬港元）。

Administrative expensesThe administrative expenses were approximately HK$75.1 million for the Year (PY2021: approximately HK$67.9 million, representing an increase of approximately 10.6%. The increase was mainly due to (i) an increase in rental expenses for our production facility in Mainland China; (ii) increase in staff salary and benefits for the Architectural Design business; (iii) staff costs and legal and professional costs incurred for the commencement of the Company’s new Financial Services Business; and (iv) procurement of the cloud services to improve the overall operational efficiency of the Group.Significant InvestmentDuring the year ended 31 December 2022, the Group has acquired certain unlisted investments and list securities for capital appreciation and cash inflows purposes. These investments and securities are assessed by independent valuer for fair value as at 31 December 2022 after taking into considerations of, among others, probability of default of substantial loan receivables. The gain or loss arises from the fair value adjustments will be recorded in the consolidated statement of profit and loss. For details please refer to Note 22 of the consolidated financial statements.On 4 March 2022, the Group acquired State Venture Investment (HK) Holdings Limited (國投（香港）控股有限公司), which held 51% shares of Qingdao Guotou Dingcheng Asset Management Company Limited* (青島國投鼎成資產管理有限公司) (“Qingdao Guotuo,青島國投”). At acquisition, the Group recognised intangible assets of青島國投’s customer relationship and goodwill based on an independent valuation of the fair value of the assets of青島國投. For details, please refer to Notes 23 and 24 of the consolidated financial statements.Pursuant to the exclusive strategic cooperation agreement with北文時代（北京）文化有限公司(Beiwen Times (Beijing) Culture Limited) (“Beiwen Times”), as disclosed in the Company’s announcement dated 4 March 2022, and other business objectives such as establishment of e-commerce platform, the Group advanced certain loan receivables to independent third parties for interests income. For details, please refer to Notes 25 and 27 of the consolidated financial statements.Income tax expensesT h e G ro u p re c o rd e d a n i n c o m e t a x e x p e n s e s o f approximately HK$0.2 million for the Year (PY2021: HK$3.1 million).China United Venture Investment Limited新華聯合投資有限公司14Management Discussion and Analysis 管理層論述及分析本公司擁有人應佔（淨虧損）╱純利本集團呈報本年度本公司擁有人應佔淨虧損約61.9百萬港元（二零二一年同期：純利約50.0百萬港元），減少約2.2倍。

此乃主要歸因於二零二一年的出售事項產生一次性收益。

每股盈利╱虧損本年度的每股基本及攤薄虧損約為8.79港仙（二零二一年同期：每股基本及攤薄盈利約為7.10港仙）。

流動資金及財務資源於二零二二年十二月三十一日，本集團之流動資產淨值、現金及銀行結餘以及本公司擁有人應佔之權益分別約為70.2百萬港元、106.5百萬港元及111.6百萬港元（二零二一年：約116.3百萬港元、84.1百萬港元及173.1百萬港元）。

本集團於二零二二年十二月三十一日的流動比率（以流動資產除以流動負債列示）維持於約1.39水平（二零二一年：約1.52）。

資本負債比率於二零二二年十二月三十一日，本集團的資本負債比率約為1.78，較二零二一年十二月三十一日的資本負債比率約1.41有所上升。

資本負債比率按於各年度年底時的負債總額（包括但不限於計息借款、貿易應付賬款以及其他應付賬款及應計費用）除以資本總額（包括但不限於母公司擁有人應佔權益）計算。

債務及資產抵押於本年度，本集團以銀行貸款及無抵押借款的形式籌集新借款，以補充營運資金。

於二零二二年十二月三十一日，未償還金額約為80.2百萬港元。

本集團將其若干於中國持作生產及供應貨物的物業及廠房作抵押，以取得授予本集團的銀行貸款。

除上文所披露者外，於二零二二年十二月三十一日，本集團並無其他資產被抵押。

於二零二一年十二月三十一日，本集團並無計息債務，亦無任何資產抵押。

Net (loss)/profit attributable to owners of the CompanyThe Group reported a net loss attributable to owners of the Company for the Year of approximately HK$61.9 million (PY2021: net profit of approximately HK$50.0 mil l ion), decreased by approximately 2.2 times. This was mainly attributable to one-off gain on disposal in 2021.Earnings/loss per shareThe basic and diluted losses per share for the Year was approximately HK$8.79 cents (PY2021: basic and diluted earnings per share approximately HK$7.10 cents).Liquidity and financial resourcesAs at 31 December 2022, the Group’s net current assets, cash and bank balances and equity attributable to owners of the Company amounted to approximately HK$70.2 million, HK$106.5 million and HK$111.6 million (2021: approximately HK$116.3 million, HK$84.1 million and HK$173.1 million) respectively. The current ratio of the Group as at 31 December 2022, expressed as current assets over current liabilities, was maintained at the level of approximately 1.39 (2021: approximately 1.52).Gearing RatioAs at 31 December 2022, the Group’s gearing ratio was approximately 1.78, increased from the gearing ratio of approximately 1.41 as at 31 December 2021. The gearing ratio is derived by dividing total liabilities (including but not limited to interest-bearing borrowings, trade payables and other payables and accruals) by total capital (including but not limited to equity attributable to owners of the parent company) at the end of the respective years.Debts and Charge on AssetsDuring the Year, the Group raised new borrowings, in the form of bank loans and unsecured borrowings for working capital replenishment. As at 31 December 2022, the outstanding amount was approximately HK$80.2 million. The Group pledged certain property and plant in the PRC held for use in the production and supply of goods, to secure the bank loans granted to the Group. Save as disclosed above, as at 31 December 2022, no other assets of the Group were charged. The Group had no interest-bearing debt nor any asset pledged as at 31 December 2021.15ANNUALREPORT 2022年報2022Management Discussion and Analysis 管理層論述及分析有關重大投資或資本資產之未來計劃董事目前並無任何有關重大投資或資本資產之未來計劃，並將繼續監察行業發展，定期檢討其業務擴充計劃，以採取符合本集團利益之必要措施。

資本開支及資本承擔於二零二二年十二月三十一日，本集團並無重大資本開支及承擔。

外匯風險於本年度，本集團之業務交易主要以美元、港元及人民幣進行。

本集團定期檢討外匯風險承擔。

於本年度，本集團預期匯率波動風險並不重大，故並無進行任何對沖活動。

股本架構於本年度，本公司並無進行任何資本活動。

管理層對延遲刊發截至二零二二年十二月三十一日止年度之業績公告及二零二二年年報的立場、觀點和評估以及本集團將採取的行動下文載列管理層對延遲刊發截至二零二二年十二月三十一日止年度之業績公告及二零二二年年報的立場、觀點和評估，以及（如適當）本集團為解決已發現及導致延遲刊發的問題而將採取的行動：於二零二三年四月三日，應本公司要求，本公司股份於聯交所暫停買賣，乃由於董事預期本集團截至二零二二年十二月三十一日止年度之經審核全年業績公告（「二零二二財年業績」）及本集團的二零二二年年報將延遲刊發。

延遲主要由於有關核數師審核二零二二財年業績的若干未解決事宜。

Future Plans for Material Investments or Capital AssetsThe Directors currently do not have any future plans for material investments or capital assets and will continue to monitor the industry and review its business expansion plans regularly, so as to take necessary measures in the Group’s interests.Capital Expenditures and Capital CommitmentsThe Group did not have material capital expenditures and commitments as at 31 December 2022.Foreign Exchange RiskDuring the Year, most of the Group’s business transactions were conducted in US dollars, Hong Kong dollars and Renminbi. Review of the Group’s exposure to foreign exchange r isks is conducted periodical ly. The Group expected that the exposure to exchange rate fluctuation was not significant and therefore did not engage in any hedging activity during the Year.Capital StructureThe Company did not run any capital exercise during the Year.THEMANAGEMENTPOSITION, VIEWAND ASSESSMENTONDELAYINPUBLICATION OFTHERESULTSANNOUNCEMENTFORTHE YEARENDED 31 DECEMBER 2022 ANDANNUAL REPORT 2022 ANDACTIONSTOBETAKENBY THEGROUPThe following sets out the management’s position, view and assessment on the delay in publication of the results announcement for the year ended 31 December 2022 and annual report 2022 and where appropriate, actions to be taken by the Group to address issues identified and caused the delay:On 3 April 2023, trading in the shares of the Company on the Stock Exchange was suspended at the request of the Company, as the Directors expected the publication of the audited annual results announcement of the Group for the year ended 31 December 2022 (the “FY2022 Results”) and the Annual Report 2022 of the Group would be delayed. The delay was mainly caused by certain unresolved issues in respect of audit of the FY2022 Results by the Auditor.China United Venture Investment Limited新華聯合投資有限公司16Management Discussion and Analysis 管理層論述及分析經與董事會討論及尋求聯交所指引後，本公司已成立審查委員會，以審閱並報告核數師所識別的導致及╱或以其他方式有關本公司暫停買賣的事宜及問題。

本公司進一步進行對審核問題、調查發現、對本公司業務經營及財務狀況的影響以及本公司所採取補救行動的獨立調查。

該等事項全部已披露於日期為二零二四年四月二日的公告。

審查委員會已考慮調查公司於獨立調查期間執行的程序及調查公司在調查中遇到的限制。

經審議調查報告後，審查委員會認為調查範圍適當，並已充分解決審核問題。

董事進一步採納調查報告所載的發現，並指示財務部根據本集團會計政策將受調查交易於財務狀況表確認為不同資產及負債，當中應用獨立調查員觀察所得事實及狀況。

經考慮調查報告的發現，審查委員會、審核委員會及董事會承認本集團的企業管治及內部監控系統存在缺陷，並接納所有建議。

因此，彼等對現有內部監控實施所有改善措施如下：修訂董事委員會的職權範圍以修訂授權、收緊有關批准投資、貸款墊付、首次服務參與及付款的程序；載列新政策及程序，包括但不限於付款、銷售及採購、签订合約；採納「先授權，後交易」的原則，並限制所有交易追認╱事後批准；After discussion within the Board and seeking guidance from the Stock Exchange, the Company established a Review Committee for the purpose of reviewing and reporting on the matters and issues leading to and/or otherwise relating to the suspension of trade of the Company identified by the Auditors. The Company further conducted an independent investigation into the audit issues, the findings, impacts on the Company’s business operation and financial position and the remedial actions taken by the Company. All of these had been disclosed in the announcement dated 2 April 2024.The Review Committee considered the procedures carried out by the Investigation Firm during the independent investigation and the limitations encountered by the Investigation Firm in its Investigations. After considering the Investigation report, the Review Committee took the view that the scope of the Investigation was adequate and adequately addressed the audit issues. The Directors further adopted the findings as set out in the investigation report and instructed the finance department to recognise the transactions under investigation into different assets and liabilities on the statement of financial positions according to the accounting policies of the Group, applying the facts and circumstances as observed by the independent investigators.Having considered the findings of the Investigation report, the Review Committee, the Audit Committee and the Board admitted the deficiencies in the Group’s corporate governance and internal control system and accepted all of the recommendations. Accordingly, they implemented all of the enhancement measures to the existing internal controls as follows: Revising the terms of reference of Board Committees to revise the delegation of authorities, tightening the procedures around approving of investments, loan advancement, f irst-time service engagement and payments; Setting out new policies and procedures including but not limited to payment, sales and procurement, contract signing; Adopt ing the pr inc ip le o f “author iza t ion f i rs t , transaction later”, and restricting all ratification/post-approval of transaction.17ANNUALREPORT 2022年報2022Management Discussion and Analysis 管理層論述及分析提升對董事的培訓及教育；建立新部門以處理及協調董事會事務（包括監督及申報）、合規事宜（包括但不限於上市規則）、上市及公司秘書事務；提升有關使用外部專業人士及專實、有關建議交易的適當及足夠盡職審查、投資評估以及法律檢討及分析之程序；提升文件保存及記錄保留控制機制；加強利益申報控制機制。

經審查實施進度後，審查委員會、審核委員會及董事會認為本公司設有充足而可靠的企業管治、內部監控及財務申報系統及程序以再次履行其於GEM上市規則項下的義務。

本公司將繼續監察本集團企業管治及內部監控系統及程序的成效，從而符合其於GEM上市規則項下的義務，並確保設有合理而充足的企業管治及內部監控政策及程序。

Enhancing training and education to the Directors; Establishing new department to handle and coordinate the Board affairs (including supervisory and reporting), compliance (including but not limited to listing rules), legal and company secretarial affairs; Enhancing procedures surrounding the use of external professionals and experts, appropriate and sufficient due diligence for proposed transactions, investment valuations, and legal review and analysis; Enhancing the document retention and record keeping control mechanism Strengthening the declaration of interests control mechanismAfter reviewing the implementation progress, the Review Committee, the Audit Committee and the Board considered that the Company had in place adequate and reliable corporate governance, internal control and financial reporting systems and procedures to fulfil its obligations under the GEMListing Rules again.The Company would continue to monitor the effectiveness of the Group’s corporate governance and internal control systems and procedures so as to meet its obligations under the GEMListing Rules and ensure reasonable and adequate corporate governance and internal control policies and procedures were in place.China United Venture Investment Limited新華聯合投資有限公司18Management Discussion and Analysis 管理層論述及分析展望電子產品業務COVID-19疫情導致的供應鏈中斷及原材料價格上漲對電子產品業務的利潤產生了負面影響，並限制了各項計劃及願景的執行與實施，包括我們生產線及供應鏈的地域多元化發展。

董事將繼續與客戶及供應商保持密切溝通，以維持電子產品業務的整體盈利能力。

與此同時，倘宏觀經濟狀況趨於穩定及出現機遇，董事亦可能會大膽嘗試進行擴展及展開多方面的舉措。

金融服務業務於剛剛結束的本年度後，董事已啟動多元化發展業務至金融服務業的計劃。

於二零二二年第一季，為充分發揮本集團的競爭優勢及多元化發展其業務至金融服務業，董事邀請新成員加入董事會，以引領全新金融服務業務的發展。

黃斌先生、吳樂斌先生及倪弦先生加入董事會，而彼等全部均為在資產管理、基金管理、企業諮詢、私募股權及風險投資方面經驗豐富的金融專才。

此外，誠如本公司日期為二零二二年三月四日的業務最新情況公告所披露，本公司已按名義代價向黃斌先生收購(i)新華國投資本有限公司的全部已發行股本及(i i)新華國科資本有限公司的70%已發行股本，標誌著本公司開始發展金融服務業務。

OUTLOOKThe Electronics BusinessThe supply chain disruption and inflation of raw material prices resulting from the Covid-19 pandemic has negatively impacted the bottom line of the Electronics Business and restricting the execution and implementation of various plans and visions, including the geographical diversification of our production lines and supply chains. The Directors will continue to maintain close communication with customers and suppliers in order to sustain the overall profitability of the Electronics Business. In the meantime, the Directors may also venture on the expansion and commencement of the multi-faceted initiatives should the macro-economy condition stabilised and opportunities materialise.The Financial Services BusinessSubsequent to the Year just ended, the Directors have kicked off, the plan to diversify into the financial services industry. In the first quarter of 2022, for the purpose of harnessing the Group’s competitive advantage and diversifying its business into the financial services industry, the Directors have invited new members to the Board to spearhead the development of a new financial services business. Mr. Huang Bin, Mr. Wu Le Bin and Mr. Ni Xian have joined the Board, all of whom are experienced finance professionals in asset management, fund management, corporate advisory, private equities and venture capital investments. In addition, as disclosed in the Company’s business update announcement dated 4 March 2022, the Company has acquired from Mr. Huang Bin (i) the entire issued share capital of State Venture Capital Limited (新華國投資本有限公司) and (ii) 70% of the issued share capital of State Innovation Capital Limited (新華國科資本有限公司) at nominal consideration, which marked the start of the Financial Services Business.19ANNUALREPORT 2022年報2022Management Discussion and Analysis 管理層論述及分析本集團擬進行收購事項，從而令金融服務業務實現有機增長，務求在香港及中國提供全方位的金融服務，包括但不限於基金發行、資產管理、不良資產管理及保險經紀等。

本集團亦擬發展跨境風險投資及基金管理業務，藉此促進粵港澳大灣區的與電子產品相關的科學園、知識產權及相關先進技術的發展。

本集團相信，這項全新的金融服務業務將為本集團帶來額外的收入來源，而本集團未來將可受惠於其多元化業務的回報。

展望二零二三年，董事將繼續進行本集團的多方面計劃，提升股東價值及對現有資源進行再投資，以最大化資產利用和價值、併購活動及策略合作夥伴。

建築設計業務憑藉我們卓越的設計產品及在中國強大的市場營銷渠道，本集團正在強化我們的新服務，即以室內設計為基礎的服務與自有品牌的電子室內飾品銷售相結合的生活美學諮詢服務。

於本年度，我們已繼續結合建築設計業務與電子產品業務，初步研發電子配件的設計及生產流程。

為順應「互聯網+文化創意」趨勢，本集團旨在透過提升與用戶的互聯網互動平台，提供全面的一站式綜合設計服務。

關連交易接受財務援助於二零二二年四月四日，金石投資管理有限公司（作為貸款人）（「貸款人」）與新華國投資本有限公司（作為第一借款人）（「第一借款人」）及新華國科資本有限公司（作為第二借款人）（「第二借款人」）（統稱「借款人」或各自為「借款人」）訂立兩份貸款協議（「第一份貸款協議」及「第二份貸款協議」，統稱「貸款協議」）。

借款人各自為本公司的附屬公司。

The Group intends to develop the Financial Services Business through organic growth over acquisitions with a view to provide full range of financial services, including but not limited to fund issuance, asset management, distressed asset management and insurance brokerage, etc. in Hong Kong and the PRC. The Group intends to, develop cross-border venture investment and fund management business with a view to promoting electronics-related science park, intellectual properties rights and related advanced technology in the Guangdong-Hong Kong-Macao Greater Bay Area. The Group believes that the new Financial Services Business will provide an additional income source for the Group and the Group will benefit from the diversified return in future.In the upcoming year 2023, the Directors will continue the Group’s a multi-faceted plan to increase the shareholders’ value and re-invest the available resources to maximise asset utilisation and value and merger and acquisition activities and strategic partnerships.The Architectural Design BusinessWith our brilliant design products and strong marketing channels in the PRC, the Group is in the process of strengthening our new services, a living aesthetic consulting service which combined interior design-based services and sales of electronic interior accessories under our own brand name. During the Year, we have continued the collaboration of the Architectural Design Business and the Electronics Business, initial research and development on the design and production process of the electronic accessories.Riding on the trend of “Internet plus cultural creativity”, the Group targets to offer a thorough one-stop integrated design services by enhancing the Internet interactive platform with users.CONNECTEDTRANSACTIONSReceiving of Financial AssistanceOn 4 Apri l 2022, Goldstone Investment Management Limited, as the lender (the “Lender”), entered into two loan agreements (the “First Loan Agreement” and the “Second Loan Agreement”, collectively, the “Loan Agreements”) with State Venture Capital Limited (新華國投資本有限公司) as the first borrower (the “First Borrower”) and State Innovation Capital Limited (新華國科資本有限公司) as the second borrower (the “Second Borrower”, collectively, the “Borrowers” or each the “Borrower”), respectively. Each of the Borrowers is a subsidiary of the Company.China United Venture Investment Limited新華聯合投資有限公司20Management Discussion and Analysis 管理層論述及分析貸款協議的主要條款概列如下：日期：二零二二年四月四日貸款人：金石投資管理有限公司借款人：第一份貸款協議：新華國投資本有限公司第二份貸款協議：新華國科資本有限公司貸款金額：第一份貸款協議：60,000,000港元第二份貸款協議：18,000,000港元貸款期限：由貸款協議日期起計，為期一年到期日：二零二三年四月三日（「到期日」）利率：每年2厘擔保於二零二二年四月四日，本公司與貸款人訂立一份擔保契約，據此，本公司將就貸款協議項下借款人的負債向貸款人提供公司擔保。

貸款協議的條款及條件乃由貸款人及借款人經公平磋商後達成，並按一般商業條款訂立。

董事會認為，貸款協議的條款屬公平合理，訂立貸款協議符合本公司及本公司股東的整體最佳利益。

根據GEM上市規則第20章，貸款協議構成接受財務資助。

由於借款人與本公司的一名關連人士訂立貸款協議，據此，(i)貸款協議按一般商業條款進行；及(i i)貸款協議並非以本公司的資產作抵押，故根據GEM上市規則第20.88條，貸款協議獲豁免全面遵守股東批准、年度審閱及所有披露規定。

The principal terms of the Loan Agreements are summarised as follows:Date : 4 April 2022Lender : Goldstone Investment Management LimitedBorrowers : The First Loan Agreement: State Venture Capital LimitedThe Second Loan Agreement: State Innovation Capital LimitedLoan amount : T h e F i r s t L o a n A g r e e m e n t : HK$60,000,000T h e S e c o n d L o a n A g re e m e n t : HK$18,000,000Term of the loans : One year, commencing from the date of the Loan AgreementsMaturity date : 3 April 2023 (the “Maturity Date”)Interest rate : 2% per annumGuaranteeOn 4 April 2022, the Company executed a deed of guarantee with the Lender, pursuant to which the Company shall provide a corporate guarantee in favour of the Lender for the Borrowers’ liabilities under the Loan Agreements.The terms and conditions of the Loan Agreements are negotiated between the Lender and the Borrowers on an arm’s length basis and are on normal commercial terms. The Board consider that the terms of the Loan Agreements are fair and reasonable and the entering into of the Loan Agreements is in the best interest of the Company and the shareholders of the Company as a whole.The Loan Agreements constitute receiving of f inancial assistance under Chapter 20 of the GEMListing Rules. As the Borrowers entered into the Loan Agreements with a connected person of the Company, pursuant to which (i) the Loan Agreements are conducted on normal commercial terms; and (ii) the Loan Agreements are not secured by the assets of the Company, the Loan Agreements are fully exempt from shareholders’ approval, annual review and all disclosure requirements under Rule 20.88 of the GEMListing Rules.21ANNUALREPORT 2022年報2022Management Discussion and Analysis 管理層論述及分析收購附屬公司於二零二二年三月四日，本公司按名義代價各自向新華國通集團有限公司（「新華國通」）收購新華國投資本有限公司（「新華國投」）的全部已發行股本及新華國科資本有限公司（「新華國科」）的70%已發行股本。

新華國投為於二零一七年七月六日在香港註冊成立的投資控股有限公司。

於收購事項前，新華國投由新華國通直接全資擁有。

新華國通(i)由本公司非執行董事黃斌先生實益擁有60%；及( i i )由中信國際資產管理有限公司實益擁有40%。

新華國科為於二零一五年六月八日在香港註冊成立的投資控股有限公司。

於收購事項前，新華國科(i)由新華國通直接持有70%；及(ii)由CAS International Investment Holdings Co., Ltd.直接持有30%，而CASInternational Investment Holdings Co., Ltd.則(a)由國科科技創新投資有限責任公司實益擁有36%，後者由中國科學院實益擁有；(b)由中科國際投資有限公司實益擁有34%；及(c)由CRCapital GPJoint Venture Limited實益擁有30%。

由於新華國投及新華國科由新華國通控制，後者由本公司非執行董事黃先生最終控制，故因此，根據GEM上市規則第20章，收購事項構成本公司一項關連交易。

由於最高適用百分比率低於0.1%，故根據GEM上市規則第20.74條，收購事項各自獲全面豁免。

有關收購事項的詳情，請參閱本公司日期為二零二二年三月四日的公告。

租賃協議於二零二二年五月十一日，本公司（作為租戶）與中國新華企業集團有限公司（「中國新華企業」，作為業主）訂立租賃協議（「租賃協議」），自二零二二年五月十一日至二零二五年二月二十八日為期三十三(33)個月，月租100,000港元，租用其香港總辦事處及主要營業地點，地址為香港中環夏愨道12號美國銀行中心18樓1801-1802室。

Acquisition of subsidiariesOn 4 March 2022, the Company acquired the entire issued share capital of State Venture Capital Limited (“State Venture”) and 70% of the issued share capital of State Innovat ion Capital Limited (“State Innovation”) f rom China United Resources Group Limited (“China United Resources”) each at a nominal consideration.State Venture is an investment holding company incorporated in Hong Kong with limited liability on 6 July 2017. Prior to the acquisition, State Venture was directly wholly-owned by China United Resources. China United Resources was (i) 60% beneficially owned by Mr. Huang Bin, the non-executive director of the Company; and (ii) 40% beneficially owned by CITICInternational Assets Management Limited.State Innovat ion is an investment ho ld ing company incorporated in Hong Kong with limited liability on 8 June 2015. Prior to the acquisition, State Innovation was (i) 70% directly held by China United Resources; and (ii) 30% directly held by CASInternational Investment Holdings Co., Ltd. which was in turn (a) 36% beneficially owned by國科科技創新投資有限責任公司which was beneficially owned by Chinese Academy of Sciences; (b) 34% beneficially owned by China Science International Investment Co. Ltd.; and (c) 30% beneficially owned by CRCapital GPJoint Venture Limited.As State Venture and State Innovation was controlled by China United Resources which was ultimately controlled by Mr. Huang Bin, the non-executive director of the Company, the acquisition constitutes a connected transaction of the Company under Chapter 20 of the GEMListing Rules. As the highest applicable percentage ratio is less than 0.1%, each of the acquisitions is fully exempt under Rule 20.74 of the GEM Listing Rules.For deta i ls o f the acqu is i t ions, p lease re fer to the announcement of the Company dated 4 March 2022.Tenancy agreementOn 11 May 2022, the Company as tenant entered into a tenancy agreement (the “Tenancy Agreement”) with China State Ventures Group Limited (“China State Ventures”) as landlord for a term of thirty-three (33) months from 11 May 2022 to 28 February 2025 at a monthly rent of HK$100,000 for the lease of its head office and principal place of business in Hong Kong at Room 1801-1802,18/F, Bank of America Tower, No.12 Harcourt Road, Central, Hong Kong.China United Venture Investment Limited新華聯合投資有限公司22Management Discussion and Analysis 管理層論述及分析中國新華企業為一家於香港註冊成立的公司，由本公司非執行董事黃斌先生最終控制。

因此，根據GEM上市規則第20章，訂立租賃協議構成本公司一項關連交易及收購使用權資產。

由於所有適用百分比率均低於5%，根據GEM上市規則第20.74條，交易獲豁免遵守通函（包括獨立財務意見）及股東批准規定。

更改公司名稱於二零二二年三月二十九日舉行之本公司股東特別大會上獲本公司股東通過批准更改公司名稱之特別決議案，以及百慕達公司註冊處處長於二零二二年四月十一日發出更改名稱證明書及第二名稱證明書後，本公司之英文名稱已由「GLORYMARKHI-TECH (HOLDINGS) LIMITED」更改為「China United Venture Investment Limited」，而「新華聯合投資有限公司」已獲採納作為本公司之第二名稱，以取代「輝煌科技（控股）有限公司」。

香港公司註冊處處長已於二零二二年四月二十八日發出註冊非香港公司變更名稱註冊證明書，確認本公司已根據香港法例第622章公司條例第16部在香港註冊其新名稱。

本公司股份於聯交所買賣之英文股份簡稱將由「GLORYMARK」更改為「CUVENTUREINV」，而中文股份簡稱則由「輝煌科技」更改為「新華聯合投資」，自二零二二年五月十三日上午九時正起生效。

本公司於聯交所之股份代號將維持不變，仍為「8159」。

本公司更改名稱的詳情分別載於本公司日期為二零二二年三月九日的通函以及本公司日期為二零二二年二月二十八日、二零二二年三月二十一日、二零二二年三月二十九日及二零二二年五月六日的公告。

報告期後事項於二零二三年三月二十四日，本公司（作為賣方）與本公司獨立第三方Shen Chen（作為買方）訂立股權轉讓協議，據此，本公司同意出售Radiant Assets Management Limited之100%已發行，代價為1港元。

出售事項其後已於二零二三年六月十四日完成。

由於有關出售事項的適用百分比率（定義見GEM上市規則第19.07條）低於5%，故出售事項獲豁免遵守GEM上市規則第19章項下的申報、公告及股東批准規定。

China State Ventures is a company incorporated in Hong Kong and is ultimately controlled by Mr. Huang Bin, a non-executive director of the Company. As such the entering into of the Tenancy Agreement constitutes a connected transaction and an acquisition of the right-of-use asset by the Company under Chapter 20 of the GEMListing Rules. As all the applicable percentage ratios are less than 5%, the transaction is exempt from the circular (including independent financial advice) and shareholders’ approval requirements under Rule 20.74 of the GEMListing Rules.CHANGEOFCOMPANYNAMESubsequent to the passing of the special resolution approving the change of Company name by the shareholders of the Company at the special general meeting of the Company held on 29 March 2022 and the Certificate of Change of Name and the Certificate of Secondary Name were issued by the Registrar of Companies in Bermuda on 11 April 2022, the English name of the Company has been changed from “GLORYMARKHI-TECH (HOLDINGS) LIMITED” to “China United Venture Investment Limited” and “新華聯合投資有限公司” has been adopted as the secondary name of the Company to replace “輝煌科技（控股）有限公司”. The Certificate of Registration of Alteration of Name of Registered Non-Hong Kong Company was issued by the Registrar of Companies in Hong Kong on 28 April 2022 confirming the registration of the new name of the Company in Hong Kong under Part XVI of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong). The stock short name of the Company will be changed from “GLORYMARK” in English and “輝煌科技” in Chinese to “CUVENTUREINV” in English and “新華聯合投資” in Chinese, for trading in the Shares on the Stock Exchange with effect from 9:00 a.m. on 13 May 2022. The stock code of the Company on the Stock Exchange will remain unchanged as “8159”. Details of the change of name of the Company were set out in the circular of the Company dated 9 March 2022 and the announcements of the Company dated 28 February 2022,21 March 2022,29 March 2022 and 6 May 2022, respectively.EVENTSAFTERTHEREPORTINGPERIODOn 24 March 2023, the Company as vendor and Shen Chen, an independent third party of the Company, as purchaser have entered into an equity transfer agreement, pursuant to which the Company has agreed to dispose of 100% of the issued capital of Radiant Assets Management Limited at a consideration of HK$1. The disposal was subsequently completed on 14 June 2023. As the relevant applicable percentage ratios (as defined under Rule 19.07 of the GEM Listing Rules) in respect of the disposal are less than 5%, the disposal is exempt from the reporting, announcement and shareholders’ approval requirement under Chapter 19 of the GEMListing Rules.23ANNUALREPORT 2022年報2022Biographical Details of Directors and Senior Management董事及高級管理人員簡歷董事執行董事王漓峰先生（「王先生」），59歲，於二零一六年九月十五日起獲委任並擔任本集團之執行董事。

王先生為董事會副主席、執行委員會與戰略及發展委員會之主席、薪酬委員會及提名委員會成員以及本公司若干附屬公司的董事。

彼於一九九一年十一月獲得墨爾本皇家理工學院頒發之建築碩士學位。

王先生亦為本公司控股股東PTDesign之董事。

彼於一九九八年二月至二零零三年一月擔任澳大利亞柏濤墨爾本建築設計有限公司深圳代表處首席代表。

彼自二零零三年一月起擔任柏濤諮詢（深圳）有限公司執行董事，自二零零九年三月起擔任柏濤建築設計（深圳）有限公司董事長。

范小令先生（「范先生」），37歲，於二零一九年十二月五日獲委任為執行董事。

彼為執行委員會成員，亦為本公司電子業務若干附屬公司的董事。

范先生在電子行業擁有逾14年經驗。

彼在供應鏈策略、銷售及運營規劃、需求規劃、預測發展、質量管理、物流管理及項目管理方面擁有較強能力。

彼於北美、東南亞、芬蘭、德國、巴西、墨西哥及英國市場擁有豐富成功經驗。

彼為LTLGroup, LLC.供應鏈管理部主管，主要負責半導體及電子產品的供應鏈管理。

范先生於二零零八年六月自中國的華東交通大學獲得金融專業的學士學位。

DIRECTORSEXECUTIVEDIRECTORSMr. Wang Li Feng (“Mr. Wang”), aged 59, was appointed and has been an executive Director of the Group since 15 September 2016. Mr. Wang is the vice chairman of the Board, the chairman of the executive committee and the strategy and development committee, a member of the remuneration committee and the nomination committee and also a director of certain subsidiaries of the Company. He obtained a master degree in architecture from Royal Melbourne Institute of Technology in November 1991. Mr. Wang is also a director of PTDesign, the controlling shareholder of the Company. He worked as the chief representative for Peddle Thorp Architects Melbourne Asia Shenzhen Office (澳大利亞柏濤墨爾本建築設計有限公司深圳代表處) from February 1998 to January 2003. He has been the executive director of Peddle Thorp Consultants (Shenzhen) Co. Ltd (柏濤諮詢（深圳）有限公司) since January 2003 and has been the chairman of PT Architecture Design (Shenzhen) Company Limited (柏濤建築設計（深圳）有限公司) since March 2009.Mr. Fan Xiaoling (“Mr. Fan”), aged 37, was appointed as an executive Director on 5 December 2019. He is a member of the executive committee and also a director of certain subsidiaries of the Company’s electronics business.Mr. Fan has over 14 years of experience in the electronics industry. He has strong abilities of supply chain strategy, sales and operation planning, demand planning, forecasting development, quality management, logistics management and project management. He has extensive and successful experiences in North America, South East Asia, Finland, Germany, Brazil, Mexico, and United Kingdom market. He is the director of supply chain management of LTLGroup, LLC., where he is mainly responsible for the supply chain management of semi-conductors and electronic products.Mr. Fan obtained a Bachelor of Finance degree from East China Jiaotong University, China in June 2008.B iog raph ica l De ta i l s o f D i rec to rs and Sen io r Management董事及高級管理人員簡歷China United Venture Investment Limited新華聯合投資有限公司24Biographical Details of Directors and Senior Management董事及高級管理人員簡歷倪弦先生（「倪先生」），36歲，於二零二二年三月四日獲委任為執行董事。

倪先生於二零零八年畢業於西北政法大學並獲得法律英文學士學位，其後於二零一一年華僑大學法學院畢業並獲得法律碩士學位。

倪先生擁有協助企業公開募集及於聯交所主板上市經驗，及知名財務顧問公司工作經驗。

彼已通過中國國家司法考試、英文專業八級、基金從業資格考試。

彼擁有企業投融資、企業管治及財務管理經驗。

倪先生曾於百信藥業國際控制有限公司（一家於聯交所主板上市之公司，股份代號：574）擔任總裁助理，負責評估收購及投資項目並進行財務、業務及法律等盡職調查、協調完成百信藥業國際控制有限公司於二零一五年六月在香港首次公開募集、協助監控項目進度和項目財務狀況、協助首席執行官制定中期和長期策略及處理與投資者關係。

在二零二零年十二月三十一日至二零二一年十二月四日，倪先生於林達控股有限公司（清盤中）（一家於聯交所主板上市之公司，股份代號：1041）出任執行董事。

Mr. Ni Xian (“Mr. Ni”), aged 36, was appointed as an executive Director on 4 March 2022.Mr. Ni graduated from Northwest University of Political Science and Law (西北政法大學) with a bachelor’s degree in legal English in 2008. He subsequently obtained a master’s degree in Law from the Law School of Huaqiao University (華僑大學) in 2011.Mr. Ni has assisted companies in making public offerings and seeking listing on the Main Board of the Stock Exchange and has accumulated working experience in a number of well-known financial advisory companies. He passed the National Judicial Examination in the PRC, the Test for English Majors – Band 8, and the Fund Qualification Examination. He has the experience in corporate investment and financing, corporate governance and financial management.Mr. Ni acted as the President Assistant of Pa Shun International Holdings Limited (a company listed on the Main Board of the Stock Exchange, stock code: 574), where he was responsible for making assessments on acquisitions and investment projects, conducting due diligence investigations on finance, business and legal issues, assisting in completing the IPO of Pa Shun International Holdings Limited in June 2015, assisting in monitoring the progress of projects and financial position of projects, and assisting the Chief Executive Officer in developing the long-medium term development strategies and dealing with the relationships with investors.From 31 December 2020 to 4 December 2021, Mr. Ni was an executive director of Lamtex Holdings Limited (in liquidation) (a company listed on the Main Board of the Stock Exchange, stock code: 1041).25ANNUALREPORT 2022年報2022Biographical Details of Directors and Senior Management董事及高級管理人員簡歷非執行董事黃斌先生（「黃先生」），57歲，於二零二二年二月二十日獲委任為非執行董事及董事會主席。

黃先生為本公司提名委員會主席。

黃先生目前分別擔任中信國際資產管理有限公司董事和中國新經濟投資有限公司（一家於聯交所主板上市之公司，股份代號：80）非執行董事及聯席主席。

彼亦於基金和資產管理以及投資銀行和直接投資領域擁有豐富的專業經驗。

黃先生多年來致力於服務國家開展跨境能源、資源併購，推動產能輸出和海外工程。

黃先生曾加盟中信證券並成立中信國通企業管理有限公司，以具體項目為驅動，並以市場化運作為手段，摸索出一套投資業務和綜合金融服務相結合的獨特商業模式，為跨國企業客戶提供整體解決方案。

黃先生擁有在法國東方匯理、香港亞信金融和加拿大豐業資本的附屬機構的多年的駐外工作和訪學經驗。

黃先生亦加入香港中華總商會，參與發起並成立粵港澳大灣區企業家聯盟，同時擔任常務副主席並負責分管科技、金融等方面工作。

黃先生畢業於哈爾濱工程大學，還曾接受欧洲共同體訪問學者計劃和美國西北大學行政工商企業管理學位課程培訓。

黃先生曾在二零二零年三月十九日至二零二一年十二月二日期間於林達控股有限公司（清盤中）（一家於聯交所主板上市之公司，股份代號：1041）非執行董事及主席，及在二零一九年九月三日至二零二零年十月十六日於共享集團有限公司（清盤中）（一家於聯交所主板上市之公司，股份代號：3344）出任執行董事。

NON-EXECUTIVEDIRECTORMr. Huang Bin (“Mr. Huang”), aged 57, was appointed as non-executive Director and the chairman of the Board on 20 February 2022. Mr. Huang is the chairman of the nomination committee of the Company.Mr. Huang is currently a director of CITICInternational Assets Management Limited (中信國際資產管理有限公司) and a non-executive director and co-chairman of China New Economy Fund Limited (中國新經濟投資有限公司) (a company listed on the Main Board of the Stock Exchange, stock code: 80), respect ively. He also has extensive professional experience in fund and asset management as well as investment banking and direct investments. Mr. Huang committed to contributing in China for years, including development in cross-border energy, resource mergers and acquisitions, and promoting energy output and international engineering. Mr. Huang previously joined CITICSecurities (中信證券) and established CITICMerchant Enterprise Management Limited (中信國通企業管理有限公司), which is driven by specific projects and supported by market-oriented operation to identify a unique business model that integrates investment businesses with comprehensive f inancing services, thereby providing international corporate clients with comprehensive solutions.After years of experience in working abroad and as a visiting scholar, such as Crédit Agricole Corporate and Investment Bank in France, Yaxin Finance in Hong Kong and subsidiaries of Scoita Capital in Canada, Mr. Huang joined the Chinese General Chamber of Commerce (香港中華總商會) and initiated the formation of Guangdong-Hongkong-Macao Bay Area Entrepreneurs Union (粵港澳大灣區企業家聯盟). He is the executive vice chairman of the Union and in charge of technology and financial sector as well. Mr. Huang graduated from Harbin Engineering University, and subsequently received the training from the European Economic Community Visiting Scholars Program and the business management training from Northwestern University in the United States.From 19 March 2020 to 2 December 2021, Mr. Huang was a non-executive director and the chairman of Lamtex Holdings Limited (林達控股有限公司) (in liquidation) (a company listed on the Main Board of the Stock Exchange, stock code: 1041). From 3 September 2019 to 16 October 2020, Mr. Huang was an executive director of GTIHoldings Limited (共享集團有限公司) (in liquidation) (a company listed on the Main Board of the Stock Exchange, stock code: 3344).China United Venture Investment Limited新華聯合投資有限公司26Biographical Details of Directors and Senior Management董事及高級管理人員簡歷獨立非執行董事甄嘉勝醫生（「甄醫生」），37歲，於二零一九年十二月五日起獲委任為本集團之獨立非執行董事。

甄醫生為審核委員會及薪酬委員會主席，戰略及發展委員會、執行委員會及提名委員會成員。

彼主要負責向董事會提供獨立意見。

甄醫生在醫學界擁有近11年經驗，並自二零一一年七月起受僱於醫院管理局。

由二零一一年七月至二零一二年六月，彼於醫院管理局完成駐院實習。

彼其後成為香港註冊醫生，並自二零一二年七月起於醫院管理局管理的多間醫院擔任醫生。

甄醫生於二零一一年十一月取得香港大學內外全科醫學士學位，並於二零一六年三月取得英國皇家內科醫學院院士資格(英國醫學深造文憑)，及於二零一九年十月取得香港大學感染及傳染病學深造文憑。

彼於二零一七年一月獲接納為香港內科醫學院成員，其後成為內分泌及糖尿科專科院士，並分別自二零二零年九月及二零二零年十二月起為香港內科醫學院院士及香港醫學專科學院院士（內科）。

此外，彼自二零一一年七月起為香港醫學會會員。

甄醫生於二零一八年六月十四日起獲委任為勝利證券（控股）有限公司（上市編號: 8540.HK）之獨立非執行董事、提名委員會主席、審核委員會及薪酬委員會的成員。

甄醫生自二零二一年七月一日起獲委任為姆丹克太陽能系統集團有限公司（股份代號：712）的獨立非執行董事、以及該公司的審核委員會、提名委員會及薪酬委員會成員。

INDEPENDENTNON-EXECUTIVEDIRECTORSDr. Yan Ka Shing (“Dr. Yan”), aged 37, was appointed as an independent non-executive Director of the Group since 5 December 2019. Dr. Yan is the chairman of the audit committee and the remuneration committee, and a member of the strategy and development committee, the executive committee and the nomination committee, where he is primarily responsible for providing independent advice to the Board. Dr. Yan has nearly 11 years of experience in the medical industry and has been employed by the Hospital Authority since July 2011. He completed his housemanship in the Hospital Authority from July 2011 to June 2012. He then became a registered doctor and has served as a medical officer in various hospitals managed by the Hospital Authority in Hong Kong, since July 2012. Dr. Yan obtained his Bachelor of Medicine and Bachelor of Surgery (MBBS) degree from the University of Hong Kong in November 2011, the Membership of the Royal Colleges of Physicians of the United Kingdom (MRCP (UK)), a postgraduate medical diploma in the United Kingdom, in March 2016, and the Postgraduate Diploma in Infectious Diseases from the University of Hong Kong (PDipID (HK)) in October 2019. He was admitted as a member of the Hong Kong College of Physicians in January 2017, then became Fellow and Specialist in Endocrinology, Diabetes and Metabolism, and has held fellowships from the Hong Kong College of Physicians and the Hong Kong Academy of Medicine (Medicine), since September 2020 and December 2020, respectively. Also, he has been a member of the Hong Kong Medical Association since July 2011. Dr. Yan was appointed as an independent non-executive director, the chairman of nomination committee, a member of the audit committee and remuneration committee of Victory Securities (Holdings) Company Limited (stock code: 8540.HK), since 14 June 2018.Dr. Yan was appointed as an independent non-executive director, the member of the audit committee, the nomination committee and the remuneration committee of Comtec Solar Systems Group Limited (stock code: 712), since 1 July 2021.27ANNUALREPORT 2022年報2022Biographical Details of Directors and Senior Management董事及高級管理人員簡歷吳樂斌先生（「吳先生」），61歲，於二零二二年二月二十日獲委任為獨立非執行董事。

吳先生持有醫學學士學位、理學（生命科學）碩士學位以及EMBA研究課程的學歷。

吳先生現時擔任中科院創業投資管理有限公司董事長，惠新基金管理有限公司董事長，新里程醫院集團公司董事長，中生北控生物科技股份有限公司（一家於聯交所GEM上市之公司，股份代號：8247）執行董事及主席，中國科學院生物物理研究所研究員，中國企業家俱樂部副理事長。

曾任中國科學院控股有限公司董事長，國家計劃委員會、國家經貿委、中國科學院科技促進經濟委員會主任。

於二零一四年九月至二零二一年六月期間，吳先生曾出任聯想控股股份有限公司（一家於聯交所主板上市之公司，股份代號：3396）非執行董事。

吳先生長期致力於科技管理工作，科技成果轉化等科研工作。

吳先生曾參與研究和制訂國家基礎研究攀登計劃（即973計劃前身）；參與制訂國家海洋高科技發展計劃；參與中國科學院發展戰略的研究工作。

吳先生著有《人類社會發展二動力論》、《R&D與企業原動力–中外著名企業科技研發及案例剖析》等科技管理專著，並發表相關論文和文章數十篇。

吳先生曾獲得國家有突出貢獻的中青年科學、技術、管理專家津貼，中國科學院科技進步二等獎等獎項，是國家「十一五」863計劃「生物醫學關鍵試劑」重點項目負責人。

Mr. Wu Lebin (“Mr. Wu”), aged 61, was appointed as independent non-executive Director on 20 February 2022.Mr. Wu obtained his bachelor’s degree in medicine, a master’s degree in science (life science) and completed an EMBA study program.Mr. Wu is the chairman of the board of director of CAS Venture Capital Investment Management Co., Ltd. (中科院創業投資管理有限公司), the chairman of the board of director of Hui Xin Fund Management Company Limited (惠新基金管理有限公司), the chairman of the board of director of New Journey Hospital Group (新里程醫院集團), the chairman and an executive director of Biosino Bio-technology And Science Incorporation* (中生北控生物科技股份有限公司) (a company listed on GEM of the Stock Exchange, stock code: 8247), a researcher of Institute of Biophysics, Chinese Academy of Sciences, a vice president of China Entrepreneur Club. He was the chairman of the board of director of Chinese Academy of Sciences Holdings Co, Ltd. (中國科學院控股有限公司), a committee officer of National Planning Committee (國家計劃委員會), National Economic and Trade Commission (國家經貿委), Technology for Boosting Economy Commission of Chinese Academy of Sciences. Mr. Wu was a non-executive director of Legend Holdings Corporation (a company listed on the Main Board of the Stock Exchange, stock code: 3396) during September 2014 to June 2021.Mr. Wu committed to technology management for years, and he have been focusing on researching of transformation of major scientific and technological achievements. Mr. Wu participated in the research and development of National Basic Research Climbing Project (國家基礎研究攀登計劃, former Programme 973). He also participated in development of National Marine Advanced Technology Development Program and the research of development strategy of Chinese Academy of Sciences. Mr. Wu is the author of books about technology management, for example, Two Dynamics Theory of Human Social Development (人類社會發展二動力論), and R&D and the Driving Force of Enterprises – Technology R&D and Case Studies of Famous Enterprises in China and Overseas (R&D與企業原動力–中外著名企業科技研發及案例剖析), and he also published dozens of related papers and articles. Mr. Wu was entitled to subsides from Chinese government for his outstanding contribution in science, technology and management as an expert in such areas. He was also awarded the Second Prize of Progress of Technology from Chinese Academy of Sciences and other prizes. He is also the person in charge of the highlight project of the 863 program, “Biomedical Key Reagent” (生物醫學關鍵試劑) of the Eleventh Five-Year Plan of China.China United Venture Investment Limited新華聯合投資有限公司28Biographical Details of Directors and Senior Management董事及高級管理人員簡歷吳先生曾參與多家科技企業的經營與投資工作。

吳先生在主持中國科學院控股有限公司工作期間，創造性地提出了創新鏈、產業鏈、資本鏈三鏈聯動創新企業發展戰略，公司每年增加資產1,000多億元人民幣，並組織投資了國盾量子、寒武紀等一批知名的科創板企業。

吳先生亦曾參與發起設立江西博雅生物製藥股份有限公司等多家生物醫藥公司。

隋福祥先生（「隋先生」），49歲，於二零二二年八月十七日起獲委任為獨立非執行董事、審核委員會、薪酬委員會、提名委員會、執行委員會以及策略及發展委員會各自之成員。

隋先生長期從事戰略研究、金融投資和業務協同工作。

先後在多所大學求學深造，對國際經貿環境尤其是股權投資領域有較深入研究，熟悉港澳地區經濟社會情況，擅長宏觀形勢分析，以及商業模式和前沿科技研究。

重點關注新能源、新基建和專精特新領域，組織籌畫了多個高端裝備製造、資產管理、供應鏈金融和醫療大健康專案開發與交易，具有豐富的相關資源和經驗。

於二零一九年加入中信國通企業管理公司以來，主要負責集團內部協同、項目開發和客戶聯絡工作。

隋先生曾於二零一九年十一月至二零二零年十月期間擔任共享集團有限公司（聯交所上市公司，股份代號：3344）之非執行董事。

Mr. Wu has experiences in operation and investment for several technology companies. Mr. Wu proposed the innovative development strategy for companies, which is the three-chain linkages comprising “innovation chain, industrial chain and capital chain” when he worked in Chinese Academy of Sciences Holdings Co, Ltd. As a result, the assets of aforesaid company increased by more than RMB100 billion every year, and he organised to invest in companies on Science and Technology Innovation Board, including some famous companies, for example, Quantumctek and Cambricon. Mr. Wu also founded some biopharmaceutical companies such as Jiangxi Boya Biopharmaceutical Co., Ltd.Mr. Sui Fuxiang (“Mr. Sui”), aged 49, was appointed as an independent non-executive Director, a member of each of the Audit Committee, the Remuneration Committee, the Nomination Committee, the Executive Committee and the Strategy and Development Committee with from 17 August 2022. Mr. Sui has long been engaged in strategic research, financial investment and business collaboration. He has studied in a number of universities and has studied in the international economic and trade environment, especially in the field of equity investment. He is familiar with the economic and social conditions of Hong Kong and Macau, and is good at analysis for macro economy, as well as business models and cutting-edge technology research. Focusing on new energy, new infrastructure and specialized and new fields, Mr. Sui has organized and planned a number of developments and transactions regarding high-end equipment production, asset management, supply chain finance and comprehensive healthcare projects, underpinned by his r ich relevant resources and experience. Since joining CITICMerchant Co., Ltd. in 2019, he has been mainly responsible for internal coordination within the group, project development and client liaison. Mr. Sui was a non-executive director of GTIHoldings Limited (a company listed on the Stock Exchange, stock code: 3344) from November 2019 to October 2020.29ANNUALREPORT 2022年報2022Biographical Details of Directors and Senior Management董事及高級管理人員簡歷高級管理層李瑞蘭女士（「李女士」），61歲，為本公司電子產品業務若干附屬公司的董事。

李女士於電子行業擁有逾32年經驗。

彼於軟件開發、電子產品營銷及台灣公司管理方面擁有豐富經驗。

彼曾於全國公證檢驗股份有限公司任職逾10年，該公司主要從事電子產品測試、檢測及認證，最後職位為電子業務部門的總經理，主要負責整體管理，而該公司為倫敦證券交易所上市公司Intertek Group PLC的附屬公司。

李女士於一九八四年六月自台灣的國立臺北科技大學獲得電子工程學士學位。

曾曉東先生（「曾先生」），於二零二二年十一月十四日獲委任為公司秘書、授權代表及法律程序代理人。

曾先生持有多倫多大學商學士學位及香港公開大學（現稱香港都會大學）企業管治碩士學位。

曾先生為香港公司治理公會及英國特許公司治理公會的會員。

彼於公司秘書領域及銀行領域擁有豐富經驗。

SENIORMANAGEMENTMs. Lee Jui-lan (“Ms. Lee”), aged 61, is a director of certain subsidiaries of the Company’s electronics business.Ms. Lee has over 32 years of experience in the electronics indust ry. She has extens ive exper ience in sof tware development, marketing electronic products and management of companies in Taiwan. She worked in Intertek Testing Services Taiwan Ltd., which is principally engaged in testing, inspecting and certifying electronic products, for more than 10 years with the last position of the general manager of the electronic business unit principally responsible for the overall management, which is a subsidiary of Intertek Group PLC, a company listed in the London Stock Exchange. Ms. Lee obtained a bachelor of Electronics Engineering degree from National Taipei University of Technology, Taiwan in June 1984.Mr. Tsang Shiao Tung, Joseph (“Mr. Tsang”), was appointed as the company secretary, an author ised representative and the process agent of the Company on 14 November 2022.Mr. Tsang holds a Bachelor of Commerce degree from the University of Toronto and a Master of Corporate Governance degree from The Open University of Hong Kong (currently known as Hong Kong Metropolitan University). Mr. Tsang is an associate member of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. He has extensive experience in the company secretarial field and the banking field.China United Venture Investment Limited新華聯合投資有限公司30Directors’ Report董事會報告董事會謹此提呈截至二零二二年十二月三十一日止年度（「二零二二年度」）之年報及經審核綜合財務報表。

主要業務本公司為投資控股公司。

其主要附屬公司之業務載於二零二二年度之綜合財務報表附註42。

業務回顧本集團於二零二二年度的業務回顧載於本年報第6至9頁、第10至22頁、第42至61頁及第216頁之「主席報告書」、「管理層論述及分析」、「企業管治報告」以及「財務概要」。

業績本集團於二零二二年度的業績以及本公司及本集團於該日的事務狀況載於第70至215頁的財務報表。

環境政策及表現於二零二二年度，本集團已採納以下政策提升環境質量：考慮物料及材料拆解及回收之可能性後設計及生產連接產品於一切合適之情況下使用印刷材料等再生紙燈具及電氣設備毋須使用時，關閉電源，減少電耗選擇能耗最低的節能設備（在規定產品上顯示能源標籤）避免、減少或控制本集團營運造成的環境污染，要求我們承包商採納及實施類似環境措施透過定期審核確保良好的管理規範，確保針對不斷變化的內部及外部情況不斷調整相關規範遵守所有適用環境法例、標準及法規The Directors present their annual report and the audited consolidated financial statements for the year ended 31 December 2022 (the “Year 2022”).PRINCIPALACTIVITIESThe Company acts as an investment holding company. The activities of its principal subsidiaries are set out in Note 42 to the consolidated financial statements for the Year 2022.BUSINESSREVIEWThe business review of the Group for the Year 2022 is set out in the sections headed “Chairman’s Statement”, “Management D iscuss ion and Ana lys is” , ”Corporate Governance Report” and “Financial Summary” on pages 6 to 9, pages 10 to 22, pages 42 to 61 and this annual report.RESULTSThe results of the Group for the Year 2022 and the state of affairs of the Company and of the Group at that date are set out in the financial statements on pages 70 to 215.ENVIRONMENTALPOLICIESANDPERFORMANCEDuring the Year 2022, the Group adopted the following policies to improve the environmental quality: to design and produce connectivity products by taking into account the possibility of dismantling and recovery of the components and materials to use recycled papers as printing materials whenever appropriate to reduce electricity consumption by switching off any light and electrical appliances which are not in use to choose energy efficiency appliances (with energy labels showing on prescribed products) with lowest energy consumption to avoid, reduce or control environmental pollution arising from the Group’s operations and to require our contractors to adopt and implement similar environmental measures to ensure good management practices by reviewing them regularly and ensure that they are tuned to the changing internal and external circumstances to comply with all applicable environmental legislation, standards and regulationsDirectors’ Report董事會報告31ANNUALREPORT 2022年報2022Directors’ Report董事會報告本集團將適時推行其他必要環境政策，確保其業務營運以對環境負責的方式開展。

遵守法律法規據董事會所悉，本集團已於重大方面遵守會對本集團業務及營運產生重大影響之相關法律法規。

主要供應商及客戶本集團最大供應商及五大供應商分別佔本集團於二零二二年度總採購額約7.16%及26.74%。

本集團最大客戶及五大客戶分別佔本集團於二零二二年度總營業額約20.53%及71.75%。

各董事、董事之聯繫人士及據董事所知持有本公司股本5%以上之本公司股東於二零二二年度任何時間均無擁有本集團五大供應商或五大客戶任何權益。

業績及分派本集團於二零二二年度之業績載於本報告第70至71頁綜合損益及其他全面收益表。

由於董事會預計二零二三年外部業務環境不穩定，故董事不建議派發截至二零二二年十二月三十一日止年度的末期股息。

五年財務概要本集團過去五個財政年度之業績概要以及資產及負債載於本報告第216頁。

固定資產於二零二二年十二月三十一日，本集團並無重大資本開支及承擔。

本集團物業、廠房及設備於二零二二年度之該等及其他變動詳情分別載於二零二二年度之綜合財務報表附註18。

The Group will put in place additional environmental policies as and when appropriate or necessary to ensure that its business operations are conducted in an environmentally responsible manner.COMPLIANCEWITHLAWSANDREGULATIONSAs far as the Board is aware, the Group has complied in material respects with the relevant laws and regulations that have a significant impact on the business and operation of the Group.MAJORSUPPLIERSANDCUSTOMERSThe largest and the top five suppliers of the Group accounted for about 7.16% and 26.74%, respectively, of the Group’s total purchases for the Year 2022. The largest and the top f ive customers of the Group accounted for about 20.53% and 71.75%, respectively, of the Group’s total turnover for the Year 2022.At no time during the Year 2022 did a director, an associate of a director, or a shareholder of the Company (which to the knowledge of the directors owns more than 5% of the Company’s share capital) have an interest in any of the Group’s five largest suppliers or customers.RESULTSANDAPPROPRIATIONSThe results of the Group for the Year 2022 are set out in the consolidated statement of profit or loss and other comprehensive income on pages 70 to 71 of this report. The Directors do not recommend the payment of a final dividend for the year ended 31 December 2022 as the Board is expecting an unstable external business environment in the year 2023.FIVEYEARFINANCIALSUMMARYA summary of the results and the assets and liabilities of the Group for the last five financial years is set out on of this report.FIXEDASSETSThe Group did not have material capital expenditures and commitments as at 31 December 2022.Details of these and other movements during the Year 2022 in the property, plant and equipment of the Group are set out in Note 18 to the consolidated financial statements for the Year 2022, respectively.China United Venture Investment Limited新華聯合投資有限公司32Directors’ Report董事會報告負債本集團以銀行貸款及無抵押借款的形式籌集新借款以補充營運資金。

本集團於二零二二年十二月三十一日，未償還金額約為80.2百萬港元。

本集團將其於香港的投資物業以及若干於中國持作生產及供應貨物的物業及廠房作抵押，以取得授予本集團的銀行貸款。

股本本公司於二零二二年度之股本變動詳情載於二零二二年度之綜合財務報表附註28。

本公司可供分派儲備本公司於二零二二年十二月三十一日可供分派予股東之儲備為零港元。

董事於二零二二年度及截至二零二二年十二月三十一日之董事如下：執行董事：王漓峰先生（副主席）于三龍先生（於二零二二年十二月二十九日辭任）范小令先生李瑞蘭女士（於二零二二年五月六日辭任）陳曉鋒博士（於二零二二年二月十七日獲委任及於二零二二年十二月二十九日辭任）倪弦先生（於二零二二年三月四日獲委任）蘇光先生（於二零二二年五月一日獲委任及於二零二二年十二月辭任）非執行董事：黃斌先生（主席）（於二零二二年二月二十日獲委任）獨立非執行董事：隋福祥先生（於二零二二年八月十七日獲委任）方志偉博士（於二零二二年八月十七日辭任）甄嘉勝醫生吳樂斌先生（於二零二二年二月二十日獲委任）許琳先生（於二零二二年三月四日獲委任及於二零二二年十二月二十九日辭任）馮申博士（於二零二二年三月四日卸任）LIABILITIESThe Group raised new borrowings, in the form of bank loans and unsecured borrowings for working capital replenishment. As at 31 December 2022, the outstanding amount was approximately HK$80.2 mil l ion. The Group pledged its investment properties in Hong Kong and certain properties and plants in the PRC held for use in the production and supply of goods, to secure the bank loans granted to the Group.SHARECAPITALDetails of movements during the Year 2022 in the share capital of the Company are set out in Note 28 to the consolidated financial statements for the Year 2022.DISTRIBUTABLERESERVEOFTHECOMPANYThe Company’s reserve ava i lab le for d is t r ibut ion to shareholders as at 31 December 2022 amounted to HK$Nil.DIRECTORSThe Directors during the Year 2022 and up to 31 December 2022 were:Executive Directors:Mr. Wang Li Feng (Vice Chairman)Mr. Yu Sanlong (resigned on 29 December 2022)Mr. Fan XiaolingMs. Lee Jui-lan (resigned on 6 May 2022)Dr. Chen Xiaofeng (appointed on 17 February 2022 and resigned on 29 December 2022)Mr. Ni Xian (appointed on 4 March 2022)Mr. Su Guang (appointed on 1 May 2022 and resigned on December 2022)Non-executive Director:Mr. Huang Bin (Chairman) (Appointed on 20 February 2022)Independent non-executive Directors:Mr. Sui Fuxiang (appointed on 17 August 2022)Dr. Fong Chi Wai, Alex (resigned on 17 August 2022)Dr. Yan Ka ShingMr. Wu Lebin (appointed on 20 February 2022)Mr. Xu Lin (appointed on 4 March 2022 and resigned on 29 December 2022)Dr. Feng Shen (ceased on 4 March 2022)33ANNUALREPORT 2022年報2022Directors’ Report董事會報告根據本公司之公司細則第84(1)條，於各股東週年大會上，當時董事的三分之一（或倘人數並非三(3)的倍數，則最接近但不少於三分之一的人數）須輪值告退。

根據GEM上市規則附錄C1企業管治守則（「企業管治守則」），各位董事（包括有特定委任期限之董事）應至少每三年輪值告退一次。

根據本公司之公司細則第84(2)條，凡董事會根據第83(2)條委任之董事於釐訂須輪值告退的特定董事或董事人數時，均不得計算在內。

根據本公司之公司細則第83(2)條，任何獲董事會委任以填補臨時空缺的董事任期將直至其獲委任後本公司首屆股東大會為止，並於該大會上進行再次競選，而任何獲董事會委任或加入現有董事會的董事任期僅至本公司下屆股東週年大會為止，屆時將具資格進行再次競選。

為符合上述各項規定，王先生、范先生及甄醫生應於應屆股東週年大會上輪值告退，而倪先生、黃先生、吳先生及隋先生應於應屆股東週年大會上予以重選。

董事之服務合約概無建議於應屆股東週年大會上膺選連任的董事與本公司訂有本公司於一年內不可在並無支付賠償（法定賠償除外）的情況下予以終止的服務合約。

In accordance with Article 84(1) of the Bye-laws of the Company, at each annual general meeting one-third of the Directors for the time being (or, if their number is not a multiple of three (3), the number nearest to but not less than one-third) shall retire from office by rotation. And, according to the Corporate Governance Code under Appendix C1 to the GEM listing Rules (“CGCode”), every Director, including those appointed for a specific term, should be subject to retirement by rotation at least once every three years.In accordance with Article 84(2) of the Bye-laws of the Company, any Director appointed by the Board pursuant to Article 83(2) shall not be taken into account in determining which particular Directors or the number of Directors who are to retire by rotation.In accordance with Article 83(2) of the Bye-laws of the Company, any Director appointed by the Board to fill a casual vacancy shall hold office until the first general meeting of members of the Company after his appointment and be subject to re-election at such meeting and any Director appointed by the Board as an addition to the existing Board shall hold office only until the next following annual general meeting of the Company and shall then be eligible for re-election.To comply with the above, Mr. Wang, Mr. Fan and Dr. Yan shall retire from office, and Mr. Ni, Mr. Huang, Mr. Wu and Mr. Sui shall be subject to re-election, at the forthcoming AGM.DIRECTORS’ SERVICECONTRACTSNone of the Directors who are proposed for re-election at the forthcoming AGM has a service contract with the Company not terminable by the Company within one year without payment of compensation (other than statutory compensation).China United Venture Investment Limited新華聯合投資有限公司34Directors’ Report董事會報告董事於股份及相關股份之權益及淡倉於二零二二年十二月三十一日，按本公司根據證券及期貨條例（「證券及期貨條例」）第352條存置之登記冊所記錄，或根據GEM上市規則第5章第5.46至5.67條所述上市發行人董事進行交易之必守標準以及證券及期貨條例第XV部第7及第8分部另行向本公司及聯交所作出之通知，或按向本公司所作出之通知，董事及彼等之聯繫人於本公司或其相聯法團（定義見證券及期貨條例第XV部）之股份及相關股份中擁有之權益及淡倉如下：本公司每股面值0.01港元之普通股附註：(L)指好倉1.王先生間接全資擁有的PTDesign Group Holdings Limited（「PTDesign」）持有355,620,000股股份。

除上文披露者外，於二零二二年十二月三十一日，概無本公司董事及最高執行人員或彼等之聯繫人於本公司或其任何相聯法團的任何股份或相關股份中擁有任何權益或淡倉。

DIRECTORS’ INTERESTSANDSHORTPOSITIONS INSHARESANDUNDERLYINGSHARESAs at 31 December 2022, the interests and short position of the directors and their associates in the shares and underlying shares of the Company or its associate corporation (within the meaning of Part XV of the Securities and Futures Ordinance (“SFO”)), as recorded in the register maintained by the Company pursuant to Section 352 of the SFO, or as otherwise notified to the Company and the Exchange pursuant to the required standards of dealings by directors of listed issuer as referred to the Rules 5.46 to 5.67 of Chapter 5 of the GEMListing Rules and Divisions 7 and 8 of Part XV of the SFO, or as otherwise notified to the Company were as follows:Ordinary shares of HK$0.01 each of the CompanyName of director CapacityNumber of issued ordinary shares heldPercentage of issued share capital of the Company 董事名稱身份所持已發行普通股數目佔本公司已發行股本之百分比Mr. Wang (Note 1) Interest in a controlled corporation 355,620,000 (L) 50.51%王先生（附註1）受控制法團權益Mr. Wang Beneficial owner 52,595,000 (L) 7.47%王先生實益擁有人Note:(L) denotes long position1. The 355,620,000 shares are held by PTDesign Group Holdings Limited (“PTDesign”), which is indirectly wholly-owned by Mr. Wang.Other than as disclosed above, none of the Directors and chief executive of the Company, nor their associates had any interests or short positions in any shares or underlying shares of the Company or any of its associated corporations as at 31 December 2022.35ANNUALREPORT 2022年報2022Directors’ Report董事會報告主要股東於本公司股份及相關股份之權益及╱或淡倉於二零二二年十二月三十一日，根據證券及期貨條例第XV部第2及3分部之條文已向本公司披露於本公司股份及相關股份中擁有權益或淡倉之人士或實體（董事及本公司主要行政人員除外），或於本公司根據證券及期貨條例第336條須予存置之登記冊所記錄或另有通知本公司之本公司股份及相關股份中擁有權益或淡倉之人士或實體（董事及本公司主要行政人員除外）如下：(L)指好倉附註：1.龎國璽先生被視為於龎國璽先生全資擁有的公司Modern Wealth Assets Limited所持有的74,403,000股股份中擁有權益。

購股權本公司於二零零一年十二月十三日根據本公司股東（「股東」）通過的一項普通決議案採納購股權計劃。

該購股權計劃於成為無條件當日起十(10)年期間後屆滿，並無根據該計劃授出購股權。

本公司自此並無採納任何新購股權計劃。

SUBSTANTIALSHAREHOLDERS’ INTERESTS AND/ORSHORTPOSITIONSINTHESHARES, UNDERLYINGSHARESOFTHECOMPANYAs at 31 December 2022, the persons or entities (other than the Directors and chief executive of the Company) who have interests or short positions in the Shares and underlying Shares of the Company which have been disclosed to the Company under the provisions of Division 2 and 3 of Part XV of the SFO, or which were recorded in the register required to be kept by the Company under Section 336 of the SFO or as otherwise notified to the Company, were as follows:Name of shareholder CapacityNumber of issued ordinary shares heldPercentage of issued share capital of the Company 股東名稱身份所持已發行普通股數目佔本公司已發行股本之百分比PTDesign Beneficial Owner 355,620,000 (L) 50.51%PTDesign實益擁有人Mr. Pang Kuo-Shi (Note 1) Interest in a controlled corporation 74,403,00010.57%龎國璽先生（附註1）受控制法團權益Modern Wealth Assets Limited (Note 1)Beneficial owner 74,403,00010.57%Modern Wealth Assets Limited （附註1）實益擁有人(L) denotes long positionNote:1. Mr. Pang Kuo-Shi is deemed to be interested in the 74,403,000 shares held by Modern Wealth Assets Limited, a company wholly-owned by Mr. Pang Kuo-Shi.SHAREOPTIONSThe Company adopted a share option scheme pursuant to an ordinary resolution passed by the shareholders of the Company (the “Shareholder(s)”) on 13 December 2001. Such share option scheme expired upon a period of ten (10) years commencing on the date on which it becomes unconditional, and no share option was granted thereunder. The Company has not adopted any new share option scheme thereafter.China United Venture Investment Limited新華聯合投資有限公司36Directors’ Report董事會報告購買股份或債權證之安排於二零二二年度，本公司或其任何附屬公司概無訂立任何安排，致使本公司董事可藉購入本公司或任何其他法人團體之股份或債權證而獲益。

獨立非執行董事本公司已接獲各獨立非執行董事根據GEM上市規則第5.09條發出之年度獨立性確認書。

本公司認為全體獨立非執行董事之身份獨立。

主要股東於二零二二年十二月三十一日，除上文「董事於股份及相關股份之權益及淡倉」一節所披露之權益外，按本公司根據證券及期貨條例第336條存置之主要股東登記冊，概無人士於本公司已發行股本中擁有須予披露之權益或淡倉。

董事之重大合約權益本公司或其附屬公司概無訂立任何於年終或於截至二零二二年十二月三十一日止年度任何時間仍然生效而本公司董事直接或間接擁有重大權益之重大合約。

關連交易除本報告所披露者外，截至二零二二年十二月三十一日止年度，本集團並無任何須根據GEM上市規則的規定作為關連交易予以披露的交易。

ARRANGEMENTSTOPURCHASESHARESOR DEBENTURESAt no time during the Year 2022 was the Company or any of its subsidiaries, a party to any arrangements to enable the directors of the Company to acquire benefits by means of acquisition of shares in, or debentures of, the Company or any other body corporate.INDEPENDENTNON-EXECUTIVEDIRECTORSThe Company has received, from each of the independent non-executive Directors, an annual confirmation on his independence pursuant to Rule 5.09 of the GEMListing Rules. The Company considers all of the independent non-executive Directors are independent.SUBSTANTIALSHAREHOLDERSOther than the interests disclosed under the section headed “Directors’ Interests and Short Positions in Shares and Underlying Shares” above, no person in the register of substantial shareholders maintained by the Company pursuant to section 336 of the SFO was disclosed as having a notifiable interest or short position in the issued share capital of the Company as at 31 December 2022.DIRECTORS’ INTERESTSINCONTRACTSOF SIGNIFICANCENo contract of significance, to which the Company or its subsidiaries was a party and in which a director of the Company had a material interest, whether directly or indirectly, subsisted at the end of the year or at any time during the year ended 31 December 2022.CONNECTEDTRANSACTIONSSave as disclosed in this report, during the year ended 31 December 2022, the Group had no transactions which need to be disclosed as connected transactions in accordance with the requirements of the GEMListing Rules.37ANNUALREPORT 2022年報2022Directors’ Report董事會報告除上文所披露者外，董事認為，財務報表附註32所披露之重大關聯方交易並不符合GEM上市規則第20章有關「關連交易」或「持續關連交易」（視乎情況而定）之定義，故毋須遵守GEM上市規則項下任何申報、公佈或獨立股東批准規定。

董事確認，本公司已遵守GEM上市規則第20章項下之披露規定（倘適用）。

於二零二二年十二月三十一日，柏濤深圳由柏濤諮詢全資擁有，而柏濤諮詢則由王先生、孔力行先生（於二零一九年十二月五日辭任的前執行董事）及趙國興先生（於二零一九年十二月五日辭任的前執行董事）分別擁有27.6%、22.0%及13.6%之權益。

酬金政策本集團之僱員乃按其表現、資格及能力獲篩選、訂定酬金及晉升。

本公司董事之酬金乃參考本集團之營運業績、個別人士之表現及可資比較市場統計而釐定。

優先購買權根據本公司之公司細則或百慕達法例，並無有關優先購買權之規定而使本公司須按持股比例向本公司現有股東發售新股。

購買、出售或贖回本公司之上市證券年內，本公司或其任何附屬公司概無購買、出售或贖回本公司之任何上市證券。

Save as disclosed above, the Directors consider that those material related party transactions disclosed in Note 32 to the financial statements did not fall under the definition of “connected transactions” or “continuing connected transactions” (as the case may be) in Chapter 20 of the GEMListing Rules which are required to comply with any of the reporting, announcement or independent Shareholders’ approval requirements under the GEMListing Rules. The Directors confirm that the Company has complied with the disclosure requirements (if applicable) under Chapter 20 of the GEMListing Rules.As at 31 December 2022, PTShenzhen is wholly-owned by PTConsultants which is in turn owned as to 27.6% by Mr. Wang,22.0% by Mr. Kong Lixing (a former executive Director who resigned on 5 December 2019) and 13.6% by Mr. Zhao Guo Xing (a former executive Director who resigned on 5 December 2019). EMOLUMENTPOLICYThe Group’s employees a re se lec ted, remunera ted and promoted based on their merit, qualif ications and competence.The emoluments of the directors of the Company are determined with regard to the Group’s operating results, individual performance and comparable market statistics.PRE-EMPTIVERIGHTSThere are no provisions for pre-emptive rights under the Company’s Bye-laws or the laws of Bermuda, which would oblige the Company to offer new shares on a pro-rata basis to existing shareholders of the Company.PURCHASE, SALEORREDEMPTIONOFTHE COMPANY’SLISTEDSECURITIESNeither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company’s listed securities during the Year.China United Venture Investment Limited新華聯合投資有限公司38Directors’ Report董事會報告董事及控股股東於競爭業務中之權益除上文有關持續關連交易及關連交易所披露者外，於二零二二年度，下列董事於以下被視為與本集團業務直接或間接構成或可能構成競爭之業務（董事獲委任為董事以代表本公司及╱或本集團權益之業務除外）中擁有權益：DIRECTORS’ ANDCONTROLLING SHAREHOLDERS’ INTERESTSINCOMPETING BUSINESSSave for the cont inuing connected transact ions and connected transactions disclosed above, during the Year 2022, the following Director had interests in the following business which were considered to compete or likely to compete, either directly or indirectly, with the business of the Group (other than those business where the Directors were appointed as directors to represent the interests of the Company and/or the Group):Name of DirectorName of entity which were considered to compete or likely to compete with the business of the GroupDescription of competing Business Nature of interests董事姓名被視為與本集團業務構成或可能構成競爭之實體名稱競爭業務描述權益性質Wang Li Feng PTConsultants Provision of Architectural Design Service (other than technical and documentation work)Directly holding 27.6% interest in PTConsultants and a director王漓峰柏濤諮詢提供建築設計服務（技術及文檔工作除外）直接持有柏濤諮詢27.6%權益，並為董事PTShenzhen Provision of Architectural Design Service (other than technical and documentation work)Indirectly holding 27.6% interest in PTShenzhen through PTConsultants and a director柏濤深圳提供建築設計服務（技術及文檔工作除外）透過柏濤諮詢間接持有柏濤深圳27.6%權益，並為董事Shanghai PTArchitecture Design & Consultant Co., Ltd (“Shanghai PT”)Provision of Architectural Design Service (other than technical and documentation work)Indirectly holding 17% interest in Shanghai PT and a director上海柏濤建築設計諮詢有限公司（「上海柏濤」）提供建築設計服務（技術及文檔工作除外）間接持有上海柏濤17%權益，並為董事39ANNUALREPORT 2022年報2022Directors’ Report董事會報告由於(i)上述董事均充分了解彼對本集團之受信責任，並將就任何存在或可能存在利益衝突之事宜放棄投票；(i i)除獨立開發商另行要求外，本集團根據業務合作協議將作為設計總承辦商首先承攬總體設計及建築設計業務；(i i i)除獨立開發商另行要求外，全部總體設計工作須首先分包予本集團；(iv)除獨立開發商特別要求建築設計方案工作須由柏濤諮詢或柏濤建築進行外，本集團享有決定是否接納該工作之優先權；及(v)王先生並無參與上海柏濤之日常管理及營運，故本集團有能力在獨立於該等實體業務並與其保持距離之情況下獨立經營其業務。

除上文所披露者外，於二零二二年度，董事並不知悉董事有任何業務及利益與本集團業務構成或可能構成競爭，亦不知悉任何有關人士與本集團存在或可能存在任何其他利益衝突。

捐款於二零二二年度，本集團並無作出任何慈善及其他捐款。

充足公眾持股量基於本公司之所得資料及據董事所知，截至本報告日期，本公司一直維持GEM上市規則所規定之公眾持股量。

獲准許之彌償條文於二零二二年度，本公司就其董事及高級管理人員因企業活動而遭提出之法律行動，為董事及高級管理人員之責任作出適當投保安排。

As (i) the above Director is fully aware of his fiduciary duty to the Group, and will abstain from voting on any matter where there is or may be a conflict of interest; (ii) the Master-planning and Architectural Design Business will be first undertaken by the Group as general design contractor under the Business Cooperation Agreement, unless otherwise requested by independent developers; (iii) unless otherwise requested by independent developers, all master-planning work shall be first subcontracted to the Group; (iv) the Group have the first right of refusal on accepting the architectural schematic design work unless it is specifically requested by the independent developers that such work shall be performed by PTConsultants or PTArchitectural; and (v) Mr. Wang has not involved in the day-to-day management and operation of Shanghai PT, the Group is capable of carrying its business independently of and at arm’s length from the businesses of these entities. Save as disclosed above, the Directors are not aware of any business and interest of the Directors that competed or might compete with the business of the Group and any other conflict of interests which any such person had or might have with the Group during the Year 2022.DONATIONSDuring the Year 2022, the Group did not make any charitable and other donations.SUFFICIENCYPUBLICFLOATBased on the information available to the Company and to the knowledge of the Directors, the Company had, up to the date of this report, maintained the public float required by the GEMListing Rules.PERMITTEDINDEMNITYPROVISIONThe Company has arranged appropriate liability insurance coverage for the Directors and senior management for the Year 2022 in respect of legal actions against its Directors and senior management arising out of corporate activities.China United Venture Investment Limited新華聯合投資有限公司40Directors’ Report董事會報告退休福利計劃本集團分別為香港及台灣所有合資格僱員提供強制性公積金計劃及供款退休福利計劃。

該等計劃之資產由受託人控制之基金持有，獨立於本集團之資產。

本集團與僱員各自須分別按僱員有關薪酬的5%及6%向強制性公積金計劃及定額供款退休福利計劃供款。

向強制性公積金計劃供款之最高金額為每月1,500港元。

於中國經營之附屬公司之合資格僱員目前參與由地方市級政府管理之中央退休金計劃。

中國附屬公司須按僱員薪酬總額之10%向中央退休金計劃供款，以作為退休福利所需之資金。

地方市級政府承諾負責向中國附屬公司合資格僱員提供退休福利。

本集團對上述定額供款計劃之供款乃全數即時歸屬於僱員。

因此，( i )截至二零二一年十二月三十一日及二零二二年十二月三十一日止兩個年度之各年度，概無沒收上述定額供款計劃下之供款；及(i i)於二零二一年十二月三十一日及二零二二年十二月三十一日並無已沒收供款可供本集團用於減少現行對上述定額供款計劃之供款水平。

截至二零二一年十二月三十一日及二零二二年十二月三十一日止兩個年度之各年度，本集團並無任何定額福利計劃。

RETIREMENTBENEFITPLANSThe Group operates a Mandatory Provident Fund Scheme and a retirement benefit scheme for all qualifying employees in Hong Kong and the Taiwan, respectively. The assets of the schemes are held separately from those of the Group, in funds under the control of trustees. The Group contributes 5% and 6% of relevant payroll costs to the Mandatory Provident Fund Scheme and the defined contr ibution retirement benefit scheme respectively, which contribution is matched by employees. For contribution to the Mandatory Provident Fund, the maximum amount is HK$1,500 per month.Eligible staff of subsidiaries operating in the PRC currently participate in a central pension scheme operated by the local municipal government. The PRC subsidiaries is required to contribute an amount of 10% on the covered payroll of its employees to the central pension scheme for the funding of the retirement benefits. The local municipal government undertakes to assume the retirement benefit obligations of the eligible employees of the PRC subsidiaries.The Group’s contributions to the abovementioned defined contribution schemes vest fully and immediately with the employees. Accordingly, (i) for each of the two years ended 31 December 2021 and 31 December 2022, there was no forfeiture of contributions under the abovementioned defined contribution schemes; and (ii) there were no forfeited contributions available for the Group to reduce its existing level of contr ibutions to the abovementioned def ined contribution schemes as at 31 December 2021 and 31 December 2022.For each of the two years ended 31 December 2021 and 31 December 2022, the Group did not have any defined benefit plan.41ANNUALREPORT 2022年報2022Directors’ Report董事會報告股權掛鈎協議除本年報所披露者外，概無股權掛鈎協議於年內訂立或於二零二二年度結束時仍然生效。

核數師本集團截至二零一八年十二月三十一日止年度的綜合財務報表已獲德勤關黃陳方會計師行審核，而德勤關黃陳方會計師行已於二零一九年十一月二十六日辭任本公司核數師。

香港立信德豪會計師事務所有限公司（「立信德豪」）已於二零一九年十一月二十六日獲委任為本公司核數師。

本集團截至二零一九年十二月三十一日及二零二零年十二月三十一日止年度的綜合財務報表已獲立信德豪審核。

香港立信德豪會計師事務所有限公司於二零二一年十二月三日辭任本公司核數師。

上會栢誠會計師事務所有限公司（前稱尤尼泰栢淳（香港）會計師事務所有限公司）已獲委任為本公司核數師，自二零二一年十二月六日起生效。

截至二零二一年十二月三十一日及二零二二年十二月三十一日止年度的本集團綜合財務報表已獲上會栢誠會計師事務所有限公司（前稱尤尼泰栢淳（香港）會計師事務所有限公司）審核。

我們將於本公司應屆股東週年大會上提呈決議案以重新委任上會栢誠會計師事務所有限公司（前稱尤尼泰栢淳（香港）會計師事務所有限公司）為本公司核數師。

代表董事會主席王漓峰先生二零二四年三月三十一日EQUITY-LINKEDAGREEMENTSSave as disclosed herein, no equity-linked agreements were entered into during the year or subsisted at the end of the Year 2022.AUDITORThe consolidated financial statements of the Group for the year ended 31 December 2018 were audited by Deloitte Touche Tohmatsu, who resigned as the auditor of the Company on 26 November 2019.BDOLimited (“BDO”) was appointed as the auditor of the Company on 26 November 2019. The consolidated financial statements of the Group for the years ended 31 December 2019 and 31 December 2020 were audited by BDO.BDO resigned as the auditor of the Company on 3 December 2021. Prism Hong Kong and Shanghai Limited (formerly known as UniTax Prism (HK) CPALimited) has been appointed as the auditor of the Company with effect from 6 December 2021.The consolidated financial statements of the Group for the years ended 31 December 2021 and 31 December 2022 were audited by Prism Hong Kong and Shanghai Limited (formerly known as UniTax Prism (HK) CPALimited). A resolution will be proposed at the forthcoming AGM of the Company to re-appoint Prism Hong Kong and Shanghai Limited (formerly known as UniTax Prism (HK) CPALimited) as the auditor of the Company.On behalf of the BoardMr. Wang Li FengCHAIRMAN31 March 2024China United Venture Investment Limited新華聯合投資有限公司42Corporate Governance Report企業管治報告新華聯合投資有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事會（「董事會」）致力於秉承高標準的企業管治並相信在實現本集團的長期目標方面，以問責、透明和公正的原則經營業務方為至關重要。

截至二零二二年十二月三十一日，董事會在本公司的公司秘書（「公司秘書」）及外部法律顧問的協助下，持續監察及審閱本集團之企業管治（「企業管治」）常規以符合於二零二二年一月一日生效的香港聯合交易所有限公司（「聯交所」）GEM上市規則附錄C1（前稱附錄15）所載的企業管治守則（「企業管治守則」）之守則條文（「二零二二年企業管治守則」），並根據二零二二年企業管治守則對目前的企業管治常規進行審閱，並於適當時候作出必要變動。

企業管治常規除於本年報所披露外，本公司已於截至二零二二年十二月三十一日止整個年度遵守生效至二零二二年十二月三十一日的GEM上市規則企業管治守則（「二零二二年企業管治守則」）之守則條文。

本公司已採納董事進行證券交易的行為守則，條款並不較GEM上市規則第5.48至5.67條所載的交易要求標準寬鬆。

The board of directors (the “Board”) of China United Venture Investment Limited (the “Company”, together with its subsidiaries, the “Group”) is committed to maintaining high standards of corporate governance and believes that in the achievement of the long term objectives of the Group, it is utmost importance to conduct the business with accountability, transparency and fairness.As of 31 December 2022, the Board with the assistance of the company secretary of the Company (the “Company Secretary”) and the external legal adviser, continues to monitor and review the corporate governance (“CG”) practices of the Group to be in line with the code provisions of the Corporate Governance Code (the “CGCode”) as set out in Appendix C1 (previously Appendix 15) to the GEM Listing Rules on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) with effect from 1 January 2022 (the “2022 CGCode”) and shall conduct the review of the current CG practices in accordance with 2022 CGCode and make necessary changes when appropriate.CORPORATEGOVERNANCEPRACTICESSave as disclosed in this annual report, the Company has complied with the code provisions of the CGCode to the GEMListing Rules effective up to 31 December 2022 (“2022 CGCode”) throughout the year ended 31 December 2022. The Company has adopted a code of conduct regarding securities transactions by directors on terms no less exacting than the required standard of dealings set out in Rules 5.48 to 5.67 of the GEMListing Rules.Corporate Governance Report企業管治報告43ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告未能遵守GEM上市規則第5.28及5.36A條如本公司日期為二零二二年十二月二十九日之公告所披露，於蘇光先生、陳曉鋒博士、于三龍先生及許琳先生自二零二二年十二月二十九日起辭任後，董事會組成包括三名執行董事、一名非執行董事及三名獨立非執行董事，因此審核委員會及提名委員會各自成員人數已低於GEM上市規則第5.28及5.36A條規定之最低人數。

董事會董事會組成董事會具備適合本集團業務之均衡技能及經驗。

董事會成員中執行董事及非執行董事均維持平衡，為董事會帶來管理、金融及法律行業的廣泛專業經驗，為有效履行董事會的職務及職責提供有力支持。

於二零二二年十二月三十一日，董事會包括合共七名董事，其中三名為執行董事，即王漓峰先生（副主席）、范小令先生及倪弦先生，一名為非執行董事，即黃斌先生（主席），以及三名為獨立非執行董事，即甄嘉勝醫生、吳樂斌先生及隋福祥先生。

Non-compliance with Rules 5.28 and 5.36A of the GEM Listing RulesFollowing the resignation of Mr. Su Guang, Dr. Chen Xiaofeng, Mr. Yu Sanlong and Mr. Xu Lin with effect from 29 December 2022 as disclosed in the announcement of the Company dated 29 December 2022, the composition of the Board comprises three executive Directors, one non-executive Director and three independent non-executive Directors and hence the number of the members of each of the Audit Committee and Nomination Committee has fallen below the minimum number required under Rules 5.28 and 5.36A of the GEMListing Rules. THEBOARDBoard CompositionThe Board has a balance of sk i l ls and exper iences appropriate for the Company’s business. There is a balance of both executive and non-executive Directors in the Board members who bring to the Board with a wide range of professional experiences in the management, finance and legal industries, which provide strong support towards the effective discharge of the duties and responsibilities of the Board. On 31 December 2022, the Board comprises a total of seven Directors, with three executive Directors, namely, Mr. Wang Li Feng (Vice Chairman), Mr. Fan Xiaoling and Mr. Ni Xian, and one non-executive Director, namely Mr. Huang Bin (Chairman), and three independent non-executive Directors, namely Dr. Yan Ka Shing, Mr. Wu Lebin and Mr. Sui Fuxiang.China United Venture Investment Limited新華聯合投資有限公司44Corporate Governance Report企業管治報告截至二零二二年十二月三十一日止年度，本公司董事會組成如下：附註：1. C為本公司相關董事委員會主席2. M為本公司相關董事委員會成員The Board composition of the Company during the year ended 31 December 2022 is set out below:Directors/Committees董事╱委員會Audit CommitteeRemuneration CommitteeNomination CommitteeExecutive CommitteeStrategy and Development Committee審核委員會薪酬委員會提名委員會執行委員會戰略及發展委員會Independent Non-Executive Directors獨立非執行董事FONG, Chi Wai, Alex (resigned on 17 August 2022)方志偉（於二零二二年八月十七日辭任）MMMMMSUIFuxiang (appointed on 17 August 2022)隋福祥（於二零二二年八月十七日獲委任）MMMMMYAN, Ka Shing甄嘉勝CCMMMFENG, Shen (ceased on 4 March 2022)馮申（於二零二二年三月四日卸任）MMMMMWU, Lebin (appointed on 20 February 2022)吳樂斌（於二零二二年二月二十日獲委任）– – – – –XU, Lin (appointed on 4 March 2022 and resigned on 29 December 2022))許琳（於二零二二年三月四日獲委任及於二零二二年十二月二十九日辭任）M – M – –Chairman and Non-Executive Director主席兼非執行董事HUANG, Bin (appointed on 20 February 2022)黃斌（於二零二二年二月二十日獲委任）– – C – –Vice Chairman and Executive Director副主席兼執行董事WANG, Li Feng (redesignated on 4 March 2022)王漓峰（於二零二二年三月四日調任）– MMCCExecutive Directors執行董事YU, Sanlong (resigned on 29 December 2022)于三龍（於二零二二年十二月二十九日辭任）– – – M –FAN, Xiaoling范小令– – – M –LEE, Jui-lan (resigned on 6 May 2022)李瑞蘭（於二零二二年五月六日辭任）– – – M –CHEN, Xiaofeng (appointed on 17 February 2022 and resigned on 29 December 2022)陳曉鋒（於二零二二年二月十七日獲委任及於二零二二年十二月二十九日辭任）– – – – –NI, Xian (appointed on 4 March 2022)倪弦（於二零二二年三月四日獲委任）– – – – –SU, Guang (appointed on 1 May 2022 and resigned on 29 December 2022)蘇光（於二零二二年五月一日獲委任及於二零二二年十二月二十九日辭任）– – – – –Notes:1. C is chairman of the relevant board committees of the Company2. M is member of the relevant board committees of the Company45ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告全體董事的履歷詳情載於本年報「董事及高級管理人員簡歷」一節。

列明董事角色和職能的最新董事名單刊載於聯交所及本公司網站。

報告期內及期後之董事變動於截至二零二二年十二月三十一日止年度，提名委員會舉行一次會議，以（其中包括）向董事會引薦新的人才並滿足董事會的繼任需求，旨在為本公司股東創造可持續的價值。

董事會主席調任由於工作調動關係，董事會聯席主席兼執行董事王漓峰先生（「王先生」）已被調任為董事會副主席，自二零二二年三月四日起生效。

王先生於調任為董事會副主席後，仍然為執行董事、本公司執行委員會（「執行委員會」）主席、本公司策略及發展委員會（「策略及發展委員會」）主席以及本公司薪酬委員會（「薪酬委員會」）及提名委員會（「提名委員會」）成員。

董事卸任為投入更多時間於彼之其他業務，馮申博士（「馮博士」）已於委任書期限於二零二二年三月四日屆滿後，分別卸任獨立非執行董事、本公司審核委員會（「審核委員會」）、薪酬委員會、提名委員會、執行委員會及策略及發展委員會各自之成員。

馮博士已確認彼與董事會間並無分歧及概無任何有關其卸任之事宜須提請本公司股東或聯交所垂注。

Biographical details of all the Directors are set out in the “Biographical Details of Directors and Senior Management” section under this Annual Report. An updated list of Directors identifying their roles and functions is maintained on the websites of the Stock Exchange and the Company.CHANGEOFDIRECTORSHIPDURINGANDAFTER THEREPORTINGPERIODThe nomination committee met for 1 time during the year ended 31 December 2022 to, among others, introduce new talent to the Board and fulfill the succession needs of the Board with an aim to creating sustainable values for the Company’s shareholders.Redesignation of Chairman of the BoardMr. Wang Li Feng (“Mr. Wang”) being the Co-Chairman of the Board and executive Director, has been redesignated to Vice Chairman of the Board with effect from 4 March 2022 due to job re-arrangement.Following the redesignation of Mr. Wang to Vice Chairman of the Board, he will remain as an executive Director, the chairman of the executive committee of the Company (the “Executive Committee”), the chairman of the strategy and development committee of the Company (the “Strategy and Development Committee”) and a member of each of the remuneration committee (the “Remuneration Committee”) and t he nom ina t i on commi t t ee ( t he “Nominat ion Committee”) of the Company.Cessation of DirectorDr. Feng Shen (“Dr. Feng”) ceased to be an independent non-executive Director, a member of each of the audit committee of the Company (the “Audit Committee”), the Remuneration committee, the Nomination committee, the Executive Committee and the Strategy and Development Committee, respectively, upon the expiration of term of letter of appointment on 4 March 2022 as he wished to devote more time to his other business commitments.Dr. Feng confirmed that he had no disagreement with the Board and that there was no matter relating to his cessation that need to be brought to the attention of the shareholders of the Company or the Exchange.China United Venture Investment Limited新華聯合投資有限公司46Corporate Governance Report企業管治報告委任董事陳曉鋒博士（「陳博士」）獲委任為執行董事，自二零二二年二月十七日起生效。

黃斌先生（「黃先生」）獲委任為非執行董事兼董事會主席，自二零二二年二月二十日起生效。

吳樂斌先生（「吳先生」）獲委任為獨立非執行董事，自二零二二年二月二十日起生效。

倪弦先生（「倪先生」）獲委任為執行董事，自二零二二年三月四日起生效。

許琳先生（「許先生」）獲委任為獨立非執行董事，自二零二二年三月四日起生效。

蘇光先生（「蘇先生」）獲委任為執行董事兼本公司行政總裁，自二零二二年五月一日起生效。

隋福祥先生（「隋先生」）獲委任為獨立非執行董事、審核委員會、薪酬委員會、提名委員會、執行委員會以及策略及發展委員會各自之成員，自二零二二年八月十七日起生效。

陳博士、黃先生、吳先生、倪先生、許先生及隋先生的簡歷載於本報告「董事及高級管理人員簡歷」一節。

董事辭任李瑞蘭女士（「李女士」）因彼之其他業務事宜而辭任執行董事，自二零二二年五月六日起生效。

李女士辭任後，彼不再為本公司執行委員會的成員。

Appointment of DirectorDr. Chen Xiaofeng (“Dr. Chen”) has been appointed as an executive Director with effect from 17 February 2022.Mr. Huang Bin (“Mr. Huang”) has been appointed as a non-executive Director and Chairman of the Board with effect from 20 February 2022.Mr. Wu Lebin (“Mr. Wu”) has been appointed as an independent non-executive Director with effect from 20 February 2022.Mr. Ni Xian (“Mr. Ni”) has been appointed as an executive Director with effect from 4 March 2022.Mr. Xu Lin (“Mr. Xu”) has been appointed as an independent non-executive Director with effect from 4 March 2022.Mr. Su Guang (“Mr. Su”) has been appointed as an executive Director and the chief executive of the Company with effect from 1 May 2022.Mr. Sui Fuxiang (“Mr Sui”) has been appointed as an independent non-executive Director, a member of each of the Audit Committee, the Remuneration Committee, the Nomination Committee, the Executive Committee and the Strategy and Development Committee with effect from 17 August 2022.Biographical details of Dr. Chen, Mr. Huang, Mr. Wu, Mr. Ni, Mr. Xu and Mr. Sui are set out in the section headed “BIOGRAPHICALDETAILSOFDIRECTORSANDSENIOR MANAGEMENT” of this report.Resignation of DirectorMs. Lee Jui-lan (“Ms. Lee”) has resigned as an executive Director due to her other business commitments with effect from 6 May 2022. Following the resignation of Ms. Lee, she ceased to be a member of the executive committee of the Company.47ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告蘇光先生（「蘇先生」）因彼之其他業務事宜而辭任執行董事兼本公司行政總裁（「行政總裁」），自二零二二年十二月二十九日起生效。

陳曉鋒博士（「陳博士」）因彼之其他業務事宜而辭任執行董事，自二零二二年十二月二十九日起生效。

于三龍先生（「于先生」）辭任執行董事，並卸任本公司執行委員會成員，自二零二二年十二月二十九日起生效。

許琳先生（「許先生」）因彼之其他業務事宜而辭任獨立非執行董事，並卸任本公司審核委員會及提名委員會各自之成員，自二零二二年十二月二十九日起生效。

方志偉博士（「方博士」）因彼之其他業務事宜而辭任獨立非執行董事，自二零二二年八月十七日起生效。

於方博士辭任後，彼卸任本公司審核委員會、提名委員會、薪酬委員會、執行委員會以及策略及發展委員會各自之成員。

於截至二零二二年十二月三十一日止整個年度，本公司已遵守GEM上市規則第5.05條關於委任最少三名獨立非執行董事（「獨立非執行董事」）（吳樂斌先生、甄嘉勝醫生及隋福祥先生）之規定。

經向全體董事作出特定查詢後，全體董事確認，於截至二零二二年十二月三十一日止年度彼等一直遵守交易必守標準及本公司所採納之董事進行證券交易之操守守則。

本公司已接獲各獨立非執行董事根據GEM上市規則第5.09條就其獨立性發出之年度確認函。

本公司認為，全體獨立非執行董事根據GEM上市規則第5.09條所載的獨立性指引屬獨立人士。

Mr. Su Guang (“Mr. Su”) has resigned as an executive Director and the chief executive of the Company (the “Chief Executive”) due to his other business commitments with effect from 29 December 2022.Dr. Chen Xiaofeng (“Dr. Chen”) has resigned as an executive Director due to his other business commitments with effect from 29 December 2022.Mr. Yu Sanlong (“Mr. Yu”) has resigned as an executive Director, and ceased to be a member of the executive committee of the Company with effect from 29 December 2022.Mr. Xu Lin (“Mr. Xu”) has resigned as an independent non-executive Director due to his other business commitments, and ceased to be a member of each of the audit committee and the nomination committee of the Company with effect from 29 December 2022.Dr. Fong Chi Wai Alex (“Dr. Fong”) has resigned as an independent non-executive Director due to other business commitments with effect from 17 August 2022. Following the resignation of Dr. Fong, he ceased to be a member of each of the audit committee, the nomination committee, the remuneration committee, the executive committee and the strategy and development committee of the Company.Throughout the year ended 31 December 2022, the Company has complied with the requirements under the Rule 5.05 of the GEMListing Rules regarding the appointment of at least three independent non-executive Directors (“INEDs”) with Mr. Wu Lebin, Dr. Yan Ka Shing and Mr. Sui Fuxiang.Having made specific enquiry of all the Directors, all the Directors conf irmed that they had compiled with the required standard of dealings and the code of conduct regarding securities transactions by directors adopted by the Company during the year ended 31 December 2022. The Company has received, from each of the independent non-executive Directors, an annual confirmation on his independence pursuant to Rule 5.09 of the GEMListing Rules. The Company considers all INEDs to be independent in accordance with the independence guidelines set out in Rule 5.09 of the GEMListing Rules.China United Venture Investment Limited新華聯合投資有限公司48Corporate Governance Report企業管治報告主席及行政總裁根據二零二二年企業管治守則的守則條文第C.2.1條，主席與行政總裁的角色應分開，不應由同一個人擔任。

本集團的主席負責領導董事會以確保其有效運作並履行職責，而本集團的行政總裁負責整體實施本集團的業務發展及全面管理。

於二零二二年五月一日，蘇先生獲委任為執行董事兼行政總裁，其後於二零二二年十二月二十九日辭任。

本公司的日常運營及管理由本報告「董事及高級管理人員簡歷」所披露的執行董事及高級管理層進行監控。

董事會認為本公司已遵守守則條文第C.2.1條。

董事會就以下事宜作出決策：公司及資本架構；公司策略；影響本集團整體之重大政策；業務計劃、預算及公佈；授權主席及授權董事委員會以及由董事委員會授權；主要財務事宜；委任、罷免或重新委任董事會成員、高級管理人員及核數師；董事及高級管理人員之酬金；及與主要利益相關者（包括股東及監管機構）之溝通。

CHAIRMANANDCHIEFEXECUTIVEOFFICERPursuant to Code Provision C.2.1 of the 2022 CGCode, the roles of chairman and chief executive should be separate and should not be performed by the same individual. Chairman of the Group is responsible for leading the Board to ensure that it operates effectively and performs its duties, while Chief Executive of the Group is responsible for the overall implementation of the Group’s business development and general management. On 1 May 2022, Mr. Su was appointed as an executive Director and the Chief Executive, who resigned on 29 December 2022 afterwards. The daily operation and management of the Company is monitored by the executive Directors and senior management as disclosed in “BIOGRAPHICALDETAILSOFDIRECTORSANDSENIOR MANAGEMENT” of this report. The Board considers that the Company has complied with Code Provision C.2.1.The types of decisions taken out by the Board include matters in relation to: corporate and capital structure; corporate strategy; significant policies affecting the Group as a whole; business plan, budgets and public announcements; delegation to the Chairman, and delegation to and by Board committees; key financial matters; appointment, removal or reappointment of Board members, senior management and auditors; remuneration of directors and senior management; and communication with key stakeholders, including shareholders and regulatory bodies.49ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告董事會或不時將關於本公司日常運營及行政之若干決策權授予高級管理人員，而執行董事負責在執行董事的指示及監督下監控本公司之日常運營及管理。

董事會成員之間概無任何關係（包括財務、業務、親屬或其他重大或相關關係）。

董事會運作董事會定期召開會議，討論本公司之事務及營運。

截至二零二二年十二月三十一日止年度，本公司共舉行2次股東大會及25次董事會會議，旨在（其中包括）(i)審閱及批准本公司截至二零二二年三月三十一日止三個月及截至二零二二年九月三十日止九個月之季度業績；(ii)審閱及批准本公司截至二零二二年六月三十日止六個月之中期業績；(iii)審閱及批准本公司截至二零二一年十二月三十一日止年度之全年業績；(iv)討論及批准四項關連交易及三項須予披露交易；(v)討論及批准本集團之整體策略及政策；及(vi)考慮及批准各董事的薪酬待遇。

The Board may delegate certain decision-making regarding the daily operation and administration of the Company to the senior management from time to time, the daily operation and management of the Company is monitored by the executive Directors under the direction and supervision of the executive Directors.There are no relationships (including financial, business, family or other material or relevant relationships) among members of the Board.BOARDOPERATIONThe Board meets regularly over the Company’s affairs and operations. During the year ended 31 December 2022,2 general meetings and 25 Board meetings were held for the purposes of, among others,(i) reviewing and approving the quarterly results of the Company for the three months ended 31 March 2022 and for the nine months ended 30 September 2022;(ii) reviewing and approving the interim results of the Company for the six months ended 30 June 2022;(iii) reviewing and approving the annual results of the Company for the year ended 31 December 2021;(iv) discussing and approving four connected transactions and three discloseable transactions;(v) discussing and approving the overall strategies and policies of the Group; and(vi) considering and approving the remuneration packages of the respective Directors.China United Venture Investment Limited新華聯合投資有限公司50Corporate Governance Report企業管治報告董事會各成員出席董事會會議及本公司截至二零二二年十二月三十一日止年度股東週年大會之記錄載列如下：The attendance record of each member of the Board at the Board meetings and the annual general meeting of the Company during the year ended 31 December 2022 is set out below:Attendance/Number of Meetings出席率╱會議次數Board Meetings SGM2022 AGM董事會會議股東特別大會二零二二年股東週年大會Mr. Huang (Chairman) (appointed on 20 February 2022)黃先生（主席） （於二零二二年二月二十日獲委任）7/211/11/1Mr. Wu (appointed on 20 February 2022)吳先生（於二零二二年二月二十日獲委任）2/210/11/1Mr. Ni (appointed on 4 March 2022)倪先生（於二零二二年三月四日獲委任）17/201/11/1Mr. Xu (appointed on 4 March 2022 and resigned on 29 December 2022)許先生（於二零二二年三月四日獲委任並於二零二二年十二月二十九日辭任）13/181/11/1Mr. Su (appointed on 1 May 2022 and resigned on 29 December 2022)蘇先生（於二零二二年五月一日獲委任及於二零二二年十二月二十九日辭任）7/12 N/A不適用1/1Dr. Chen (appointed on 17 February 2022 and resigned on 29 December 2022)陳博士（於二零二二年二月十七日獲委任及於二零二二年十二月二十九日辭任）15/201/11/1Mr. Sui (appointed on 17 August 2022)隋先生（於二零二二年八月十七日獲委任）6/8 N/A不適用1/1Mr. Wang王先生22/231/11/1Mr. Yu (resigned on 29 December 2022)于先生（於二零二二年十二月二十九日辭任）19/221/11/1Mr. Fan范先生20/231/11/1Ms. Lee (resigned on 6 May 2022)李女士（於二零二二年五月六日辭任）9/101/1 N/A不適用Dr. Fong (resigned on 17 August 2022)方博士（於二零二二年八月十七日辭任）14/151/1 N/A不適用Dr. Yan甄醫生18/231/11/1Dr. Feng (ceased on 4 March 2022)馮博士（於二零二二年三月四日卸任）2/3 N/A不適用N/A不適用51ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告董事及高級管理人員酬金薪酬委員會已成立，其宗旨包括以下各項：(a)就董事及高級管理人員之薪酬政策及架構，及就設立正規而具透明度的程序制定有關薪酬政策，向董事會作出建議；及(b)釐定執行董事及高級管理人員之薪酬組合，並就非執行董事之薪酬向董事會作出建議。

於二零二二年十二月三十一日，薪酬委員會由兩名獨立非執行董事甄醫生（主席）及隋先生（於二零二二年八月十七日獲委任）及一名執行董事王先生組成。

馮博士於二零二二年三月四日卸任，於其卸任後，方博士於二零二二年三月四日獲委任及於二零二二年八月十七日卸任。

截至二零二二年十二月三十一日止年度，舉行一次薪酬委員會議以（其中包括）審閱、批准個別董事及高級管理人員的薪酬待遇並向董事會建議以供考慮及批准。

截至二零二二年十二月三十一日止年度，薪酬委員會各成員之出席記錄載列如下：本公司酬金政策及長期獎勵計劃以及釐定董事酬金之基準詳情載於本年報。

於二零二二年度，薪酬委員會將舉行會議及檢討薪酬政策、長期獎勵計劃以及應付本公司董事薪酬釐定之基準。

REMUNERATIONOFDIRECTORSANDSENIOR MANAGEMENTThe Remuneration Committee was formed for, inter alia, the following purposes:(a) to make recommendations to the Board on policies and structure for remuneration of Directors and senior management and on the establishment of a formal and transparent procedure for developing policy on such remuneration; and(b) to determine the remuneration packages for executive Directors and senior management and to make recommendations to the Board on the remuneration of non-executive Directors.As at 31 December 2022, the Remuneration Committee was made up of two independent non-executive Directors, namely Dr. Yan (Chairman) and Mr. Sui was appointed on 17 August 2022, and one executive Director, namely Mr. Wang. Dr. Feng ceased his duty on 4 March 2022, and following his cessation, Dr. Fong was appointed on 4 March 2022 and ceased his duty on 17 August 2022.During the year ended 31 December 2022, one Remuneration Committee meeting was held for the purpose of, among others, rev iewing, approving and recommending the remuneration packages of individual Directors and senior management to the Board for consideration and approval. The attendance record of each member of the Remuneration Committee during the year ended 31 December 2022 is set out below:AttendanceMembers of Remuneration Committee薪酬委員會成員出席率Dr. Yan甄醫生3/3Dr. Feng (ceased on 4 March 2022)馮博士（於二零二二年三月四日卸任） N/A不適用Mr. Wang王先生3/3Dr. Fong (appointed on 4 March 2022 and resigned on 17 August 2022)方博士（於二零二二年三月四日獲委任及於二零二二年八月十七日辭任）2/2Mr. Sui (appointed on 17 August 2022)隋先生（於二零二二年八月十七日獲委任） N/A不適用Details regarding the Company’s emolument policy and long term incentive schemes, as well as the basis of determining the directors’ emoluments are set out in this Annual Report.The Remuneration Committee will meet and review the emolument policy and long-term incentive schemes as well as the basis of determining the emolument payable to the Company’s directors in Year 2022.China United Venture Investment Limited新華聯合投資有限公司52Corporate Governance Report企業管治報告薪酬委員會受其書面職權範圍規管。

審核委員會於二零二二年十二月三十一日，審核委員會由兩名獨立非執行董事組成，包括甄醫生（主席）及隋先生。

截至二零二二年十二月三十一日止年度，審核委員會曾舉行五次會議，並履行下列職務：(1)審閱本公司之全年、中期及季度財務公佈初稿、董事會報告、獨立核數師報告及財務報表，並向董事會提供建議以供批准；(2)檢討本集團之內部監控，並就此提供意見；(3)與外聘核數師舉行會議，並參與委聘、續聘及評估外聘核數師之工作表現；及檢討外部審計之結果；檢討並評估本集團風險控制╱減緩工具的有效性，包括風險管理系統、與風險管理有關的內部審計職能以及本集團的應變計劃；經考慮內部核數師報告後檢討內部監控系統之有效性；檢討內部核數師及外部核數師的重大發現和建議，並監督其實施情況；及檢討並監控本公司對所有適用法律、法規、標準及最佳常規指引的遵守情況。

(4)本報告呈列之全年業績已由審核委員會審閱。

The Remuneration Committee is governed by its terms of reference.AUDITCOMMITTEEAs at 31 December 2022, the Audit Committee comprises two independent non-executive Directors, namely Dr. Yan (Chairman) and Mr. Sui.During the year ended 31 December 2022, the Audit Committee held five meetings and performed the following duties:(1) reviewed and commented on the Company’s draft annual, interim and quarterly financial announcements, Directors’ Report, Independent Auditors’ Report and Financial Statements, with a recommendation to the Board for approval;(2) reviewed and commented on the Group’s internal controls;(3) met with the external auditors and participated in the appointment, reappointment and assessment of the performance of the external auditors; and reviewed the results of the external audits; reviewed and assessed the effectiveness of the Group’s risk control/mitigation tools including the risk management systems, the internal audit function relating to risk management and the Group’s contingency plans; reviewed the effectiveness of the internal control systems after considering the report from the internal auditors; reviewed the significant findings and recommendations from the internal auditor and external auditor, and monitored their implementations; and reviewed and monitored the compliance by the Company with all applicable laws, regulations, standards and best practice guidelines.(4) The annual results presented herein have been reviewed by the Audit Committee.53ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告截至二零二二年十二月三十一日止年度，審核委員會各成員之出席記錄載列如下：核數師酬金截至二零二二年十二月三十一日止年度，本公司已付或應付本公司核數師上會栢誠會計師事務所有限公司（前稱尤尼泰栢淳（香港）會計師事務所有限公司）（二零二一年：立信德豪）審計及非審計服務之酬金載列如下：附註1：該非審計服務主要包括審閱本集團的中期財務報告及履行若干協定程序。

附註2：該非審計服務指年內作為申報會計師因就出售一間附屬公司刊發的通函而提供的服務。

本公司已取得上會栢誠會計師事務所有限公司（前稱尤尼泰栢淳（香港）會計師事務所有限公司）的獨立確認函，確認上會栢誠會計師事務所有限公司（前稱尤尼泰栢淳（香港）會計師事務所有限公司）於截至二零二一年十二月三十一日止年度及直至本年報日期根據香港會計師公會的獨立要求屬獨立於本集團的人士。

The attendance record of each member of the Audit Committee during the year ended 31 December 2022 is set out below:Members of Audit Committee審核委員會成員Attendance出席率Mr. Sui (appointed on 17 August 2022)隋先生（於二零二二年八月十七日獲委任） 1/1Dr. Yan甄醫生4/4Dr. Fong (appointed on 4 March 2022 and ceased on 17 August 2022)方博士（於二零二二年三月四日獲委任及於二零二二年八月十七日卸任） 3/3Dr. Feng (ceased on 4 March 2022)馮博士（於二零二二年三月四日卸任） N/A不適用Mr. Xu (appointed on 4 March 2022 and ceased on 29 December 2022)許先生（於二零二二年三月四日獲委任及於二零二二年十二月二十九日卸任） 1/4AUDITOR’SREMUNERATIONDuring the year ended 31 December 2022, the remuneration paid or payable to the Company’s auditor, Prism Hong Kong and Shanghai Limited (formerly known as UniTax Prism (HK) CPALimited) (2021: BDO), in respect of audit and non-audit services is set out below:20222021二零二二年二零二一年HK$ HK$港元港元Prism Hong Kong and Shanghai Limited (formerly known as UniTax Prism (HK) CPALimited)上會栢誠會計師事務所有限公司（前稱尤尼泰栢淳（香港）會計師事務所有限公司）Audit service審計服務– 1,100,000Non-audit services (Note 2)非審計服務（附註2） – –Note 1: The non-audit services mainly consisted of the reviews of the Group’s interim financial reports and the performance of certain agreed-upon procedures.Note 2: This non-audit services represent the services rendered as reporting accountant for a circular issued in connection with a disposal of a subsidiary during the year.An independence confirmation has been obtained from the Prism Hong Kong and Shanghai Limited (formerly known as UniTax Prism (HK) CPALimited) confirming that Prism Hong Kong and Shanghai Limited (formerly known as UniTax Prism (HK) CPALimited) is independent of the Group in accordance with the independence requirements of the Hong Kong Institute of Certified Public Accountants for the year ended 31 December 2021 and up to the date of this Annual Report.China United Venture Investment Limited新華聯合投資有限公司54Corporate Governance Report企業管治報告提名董事董事會根據企業管治守則之規定成立提名委員會。

提名委員會採納下列提名董事之程序及標準：1提名董事之程序1.1當董事會出現空缺時，董事會將評估董事會所需技巧、知識及經驗，並識別空缺是否存在任何特殊要求（例如，倘屬獨立非執行董事，則需為獨立人士）。

1.2編製一份特定空缺所需之角色及能力之說明資料。

1.3透過個人聯繫╱董事會成員、高級管理人員、業務夥伴或投資者之推薦物色候選人清單。

1.4安排與各候選人面見，讓董事會評估候選人是否符合提名董事之既定書面標準。

一名或多名董事會成員將出席面見。

1.5核實候選人提供的資料。

1.6召開提名委員會會議及董事會會議，以商討及表決獲提名或委任為董事會成員之候選人。

NOMINATIONOFDIRECTORSThe Board has established the Nomination Committee pursuant to the requirements of the CGCode. The Nomination Committee adopted the following procedure and criteria for nomination of Directors:1 Procedure for Nomination of Directors1.1 When there is a vacancy in the Board, the Board evaluates the balance of skil ls, knowledge and experience of the Board, and identif ies any special requirements for the vacancy (e.g. independence status in the case of an independent non-executive Director).1.2 Prepare a description of the role and capabilities required for the particular vacancy.1.3 Identify a list of candidates through personal contacts/recommendations by Board members, senior management, business partners or investors.1.4 Arrange interview(s) with each candidate for the Board to evaluate whether the candidate meets the established written criteria for nomination of Directors. One or more members of the Board will attend the interview.1.5 Conduct verification on information provided by the candidate.1.6 Convene both Nomination Committee meeting and Board meeting to discuss and vote on which candidate to nominate or appoint to the Board.55ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告2.提名董事之標準2.1全體董事之共同標準(a)性格及誠信(b)承擔董事會信託責任之意向(c)董事會目前對特定經驗或專業知識之需求及候選人是否符合該等需求(d)相關經驗，包括在策略╱政策制定方面之經驗、在架構複雜機構之高級管理經驗、行業經驗及對本公司所使用產品及程序之熟悉程度(e)與董事會及本公司相關之重要業務或公關經驗，而該等經驗對董事會及本公司有利(f)對影響本公司之問題之認知程度(g)客觀分析複雜業務問題及執行中肯業務判斷之能力(h)對董事會活動投入專業才幹之能力及意向(i)切合本公司之文化(j)董事會多元化2. Criteria for Nomination of Directors2.1 Common Criteria for All Directors(a) Character and integrity(b) The w i l l i ngness to assume b road fiduciary responsibility(c) Present needs of the Board for particular experience or expertise and whether the candidate would satisfy those needs(d) R e l e v a n t e x p e r i e n c e , i n c l u d i n g experience at the strategy/policy setting level, high level managerial experience in a complex organisat ion, industry exper ience and fami l iar i ty wi th the products and processes used by the Company(e) Significant business or public experience relevant and beneficial to the Board and the Company(f) Breadth of knowledge about issues affecting the Company(g) Ability to objectively analyse complex business problems and exercise sound business judgment(h) Abil i ty and wil l ingness to contribute special competencies to Board activities(i) Fit with the Company’s culture(j) Board diversityChina United Venture Investment Limited新華聯合投資有限公司56Corporate Governance Report企業管治報告2.2非執行董事之標準(a)對本公司事務投入充分時間之意向及能力，以有效地履行董事職責，包括出席董事會及委員會會議，並積極參與該等會議(b)候選人在其行業之成就(c)專業及個人名聲出眾(d)候選人符合GEM上市規則有關董事獨立性之標準之能力於構建董事會之組成時，經計及本集團之董事會成員多元化政策，本公司已從多個方面考慮董事會成員多元化，包括（但不限於）性別、年齡、文化及教育背景、種族、專業經驗、技能、知識及服務年資。

所有最終決定將基於選定候選人將為董事會帶來之效益及貢獻而作出。

於二零二二年十二月三十一日，提名委員會由一名執行董事王先生、一名非執行董事黃先生及三名獨立非執行董事甄醫生、方博士及許先生組成。

2.2 Criteria for Non-Executive Directors(a) W i l l i ngness and ab i l i t y to make a sufficient time commitment to the affairs of the Company in order to effectively perform the duties of a director, including attendance at and active participation in Board and committee meetings(b) Accomplishments of the candidate in his or her field(c) Outstanding professional and personal reputation(d) The candidate’s abi l i ty to meet the independence cr i ter ia for d i rectors established in the GEMListing RulesIn structuring of the Board composition, by taking into account the Group’s board diversity policy, board diversity has been considered from a number of aspects, including but not limited to gender, age, cultural and educational background, ethnicity, professional experience, skills, knowledge and length of service. All the ultimate decision will be based on merit and contribution that the selected candidates will bring to the Board.As at 31 December 2022, the Nomination Committee was made up of one executive Director, namely Mr. Wang, one non-executive Director, namely Mr. Huang, and three independent non-executive Directors, namely Dr. Yan, Dr. Fong and Mr. Xu.57ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告截至二零二二年十二月三十一日止年度，舉行一次提名委員會會議，旨在（其中包括）(i)評估獨立非執行董事的獨立性；(i i)就有關所有退任董事於二零二二年股東週年大會上膺選連任向董事會提供建議以供考慮；及(i i i)檢討董事會的架構、規模及組成。

截至二零二二年十二月三十一日止年度，提名委員會各成員之出席記錄載列如下：董事培訓董事須了解彼等共同之職責，本公司鼓勵董事參與持續專業發展，以發展並更新彼等之知識及技能。

本公司向每名新委任董事或替人董事提供全面之入職資料文件，當中涵蓋香港上市公司董事之職責、本集團之業務、上市公司之董事之法定監管義務及本公司之憲章文件之概要，確保彼充分知悉根據GEM上市規則及其他監管規定承擔之職責及義務。

本公司已向董事提供有關GEM上市規則變動之資料，以更新董事對GEM上市規則最新發展之知識。

本公司持續向董事提供GEM上市規則及其他適用監管規定之最新發展資料，確保本公司遵守有關規定及加強董事對良好企業管治常規之意識。

During the year ended 31 December 2022, one Nomination Committee meeting was held for the purposes of, among others, (i) assessing the independence of the independent non-executive Directors; (ii) making recommendation to the Board for consideration the re-election of all the retiring Directors as Directors at the 2022 AGM; and (iii) reviewing the structure, size and composition of the Board. The attendance record of each member of the Nomination Committee during the year ended 31 December 2022 is set out below:Members of Nomination Committee提名委員會成員Attendance出席率Mr. Sui (appointed on 17 August 2022)隋先生（於二零二二年八月十七日獲委任） N/A不適用Mr. Wang王先生2/2Mr. Huang (appointed on 4 March 2022)黃先生（於二零二二年三月四日獲委任） 1/2Dr. Yan甄醫生2/2Dr. Feng (ceased on 4 March 2022)馮博士（於二零二二年三月四日卸任） N/A不適用Dr. Fong (ceased on 17 August 2022)方博士（於二零二二年八月十七日卸任） 1/1Mr. Xu (appointed on 4 March 2022 and ceased on 29 December 2022)許先生（於二零二二年三月四日獲委任及於二零二二年十二月二十九日卸任） 0/2DIRECTORS’ TRAININGDirectors must keep abreast of their collective responsibilities and are encouraged to participate in continuous professional development to develop and refresh their knowledge and skills. The Company would provide to each newly appointed director or alternative director an induction package covering the summary of the responsibilities and liabilities of a director of a Hong Kong listed company, the Group’s businesses and the statutory regulatory obligations of a director of a listed company as well as the Company’s constitutional documents to ensure that he/she is sufficiently aware of his/her responsibilities and obligations under the GEMListing Rules and other regulatory requirements.The Company has provided information related to the changes in the GEMListing Rules to the directors to update and refresh the directors’ knowledge on the latest developments to the GEMListing Rules. The Company will continuously update the directors on the latest developments to the GEMListing Rules and other applicable regulatory requirements, to ensure compliance and enhance the d i rectors’ awareness of good corporate governance practices.China United Venture Investment Limited新華聯合投資有限公司58Corporate Governance Report企業管治報告截至二零二二年十二月三十一日止年度，彼等的持續發展培訓記錄摘要如下：For the year ended 31 December 2022, a summary of their records of continuous development training is as below:Name of Directors董事姓名Attending webinars/reading materials and updates relevant to corporate governance出席與企業管治相關的網絡研討會╱與企業管治相關的閱讀材料及更新Chairman and Non-Executive Director:主席兼非執行董事：Mr. Huang Bin (appointed on 20 February 2022)黃斌先生（於二零二二年二月二十日獲委任）Vice Chairman and Executive Director:副主席兼執行董事：Mr. Wang Li Feng (redesignated on 4 March 2022)王漓峰先生（於二零二二年三月四日調任）Executive Directors:執行董事：Mr. Yu Sanlong (resigned on 29 December 2022)于三龍先生（於二零二二年十二月二十九日辭任）Mr. Fan Xiaoling范小令先生Ms. Lee Jui-lan (resigned on 6 May 2022)李瑞蘭女士（於二零二二年五月六日辭任）Dr. Chen Xiaofeng (appointed on 17 February 2022 and resigned on 29 December 2022)陳曉鋒博士（於二零二二年二月十七日獲委任及於二零二二年十二月二十九日辭任）Mr. Ni Xian (appointed on 4 March 2022)倪弦先生（於二零二二年三月四日獲委任）Mr. Su Guang (appointed on 1 May 2022 and resigned on 29 December 2022)蘇光先生（於二零二二年五月一日獲委任及於二零二二年十二月二十九日辭任） N/A不適用Independent Non-Executive Directors:獨立非執行董事：Mr. Sui Fuxiang (appointed on 17 August 2022)隋福祥先生（於二零二二年八月十七日獲委任） N/A不適用Dr. Fong Chi Wai, Alex (resigned on 17 August 2022)方志偉博士（於二零二二年八月十七日辭任）Dr. Yan Ka Shing甄嘉勝醫生Dr. Feng Shen (ceased on 4 March 2022)馮申博士（於二零二二年三月四日卸任） N/A不適用Mr. Wu Lebin (appointed on 20 February 2022)吳樂斌先生（於二零二二年二月二十日獲委任）Mr. Xu Lin (appointed on 4 March 2022 and resigned on 29 December 2022)許琳先生（於二零二二年三月四日獲委任及於二零二二年十二月二十九日辭任） N/A不適用59ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告股東權利根據本公司之公司細則，任何於呈遞要求日期持有不少於本公司實繳股本（附有於本公司股東大會表決權利）十分之一的任何一名或多名股東，於任何時候有權透過向董事會或本公司的秘書發出書面要求，要求董事會召開股東特別大會，以處理有關要求中指明的任何事項；且該大會應於呈遞該要求後兩個月內舉行。

倘呈遞後二十一日內董事會未有召開該大會，則呈遞要求人士可自發以同樣方式作出此舉，而呈遞要求人士因董事會未有召開大會而合理產生的所有開支應由本公司向呈遞要求人士作出償付。

股東可於任何時間就公開可獲得的資料提出問題、要求並向本公司董事或管理層提供意見及建議。

有關問題、要求及意見可通過電郵寄予王漓峰先生(l ifengwang@188.com)或張時潮先生(patrick@glorymarkhightech.com.hk)。

股息政策本公司任何股息宣派、形式、次數及金額必須遵循相關法律、規則及法規，並受本公司之公司細則所約束。

除現金外，股息亦可以本公司股份形式、透過任何類別的指定資產分派或以任何其他方式之分派派付。

在遵守適用法律、規則及法規以及本公司之公司細則之情況下，於決定是否建議作出任何股息派付時，董事會將考慮（其中包括）財務業績、盈利、虧損及可供分派儲備、營運及流動資金需求、債務比率及對信貸額度之潛在影響以及本公司當前及未來之發展計劃。

SHAREHOLDERS’ RIGHTSAccording to the Bye-Laws of the Company, any one or more shareholders holding at the date of deposit of the requisition not less than one-tenth of the paid up capital of the Company carrying the right of voting at general meetings of the Company shall at all times have the right, by written requisition to the Board or the secretary of the Company, to require an extraordinary general meeting to be called by the Board for the transaction of any business specified in such requisition. Such meeting shall be held within two months after the deposit of such requisition. If within twenty-one days of such deposit the Board fails to proceed to convene such meeting the requisitionist(s) himself (themselves) may do so in the same manner, and all reasonable expenses incurred by the requisitionist(s) as a result of the failure of the Board shall be reimbursed to the requisitionist(s) by the Company. Shareholders may, at any time, direct questions, request for publicly available information and provide comments and suggestions to directors or management of the Company. Such questions, requests and comments can be addressed to Mr. Wang Li Feng by email to lifengwang@188.com or Mr. Patrick Chang at patrick@glorymarkhightech.com.hk.DIVIDENDPOLICYThe declaration, form, frequency and amount of any dividend payout of the Company must be in accordance with relevant laws, rules and regulations and subject to the Bye-laws of the Company.The dividends may be paid up in the form of the Company’s shares in addition to cash, by the distribution of specific assets of any kind or by distribution of any form. Subject to compliance with applicable laws, rules, regulations and the Bye-laws of the Company, in deciding whether to propose any dividend payout, the Board will take into account, among other things, the financial results, the earnings, losses and distributable reserves, the operations and liquidity requirements, the debt ratio and possible effects on the credit lines, and the current and future development plans of the Company.China United Venture Investment Limited新華聯合投資有限公司60Corporate Governance Report企業管治報告內幕消息董事知悉適用規例、證券及期貨條例第XIVA部及香港《上市規則》有關處理及發布內幕消息的規定。

董事識別的所有內幕消息須通過本公司的刊物及通訊及時向公眾公佈及披露，惟香港法例第571章證券及期貨條例規定的處於安全地帶的信息除外。

組織章程文件截至二零二二年十二月三十一日止年度及直至本報告日期，本公司之公司細則概無任何變動。

本公司之公司細則可於本公司網站(.tw)及聯交所網站()查閱。

公司秘書曾曉東先生（「曾先生」）已獲委任為本公司之公司秘書、授權代表及法律程序代理人，自二零二二年十一月十四日起生效。

曾先生持有多倫多大學商業學士學位及香港公開大學（現稱香港都會大學）企業管治碩士學位。

彼為香港公司治理公會及英國特許公司治理公會會員。

曾先生已證明符合GEM上市規則第5.15條之規定，並於公司秘書及銀行領域擁有豐富經驗。

所有董事均可就企業管治及董事會常規及事宜獲得公司秘書的意見及服務。

INSIDEINFORMATIONThe Directors are aware of the requirements under the applicable regulations, Part XIVA of the Securities and Futures Ordinance and the Hong Kong Listing Rules for the handling and dissemination of inside information. All the inside information identified by the Directors shall be published and disclosed to the public in a timely manner through the Company’s publications and communications, unless the information falls within safe harbours as prescribed in the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).CONSTITUTIONALDOCUMENTSDuring the year ended 31 December 2022 and up to the date of this report, there has not been any change in the Company’s Bye-laws. The Company’s Bye-laws are available on the websites of the Company (.tw) and the Exchange ().COMPANYSECRETARYMr. Tsang Shiao Tung, Joseph (“Mr. Tsang”), has been appointed as the company secretary, an author ized representative, and the process agent of the Company effective from the 14th of November,2022. Mr. Tsang is a holder of a Bachelor of Commerce degree from the University of Toronto and a Master of Corporate Governance degree from The Open University of Hong Kong (currently known as Hong Kong Metropolitan University). He is an associate member of The Hong Kong Chartered Governance Institute and The Chartered Governance Institute in the United Kingdom. Mr. Tsang has demonstrated compliance with the requirements of Rule 5.15 of the GEMListing Rules and possesses extensive experience in both the company secretarial and banking fields.All the Directors have access to the advice and services of the company secretary on corporate governance and Board practice and matters.61ANNUALREPORT 2022年報2022Corporate Governance Report企業管治報告INTERNALCONTROLSYSTEMSThe Group has formulated risk management and internal cont ro l systems to prov ide s tandard gu ide l ines for identification, assessment, management, monitoring and reporting of all materials risks of the Group. Appropriate internal control procedures are established to ensure a comprehensive, accurate and timely record of accounting and management information.The Group has an Interna l Audi t Department which reports directly to the Audit Committee. The Internal Audit Department conducts a regular review to ensure the financial statement is prepared in accordance with the relevant accounting standards and applicable laws and regulations. It provides the Audit Committee and the Board with useful information and recommendations on the effectiveness of the Group’s internal control systems. Internal Controls Review Reports are submitted to the Audit Committee and the Board for review with recommendations adopted to further enhance the effectiveness of the internal controls. The Internal Audit Department also assists the Audit Committee in monitoring the implementations of the previously identified findings and reports the status of remediation to the Audit Committee. The Internal Audit Department generally reviews and assesses the effectiveness of the Group’s internal control systems by adopting a risk-based audit approach based on the Internal Control – 2013 Integrated Framework issued by the Committee of Sponsoring Organisations of the Treadway Commission (“COSO”).內部監控系統本集團已制定風險管理及內部監控制度，為本集團所有重大風險的識別、評估、管理、監控及報告提供標準指引。

本集團已建立適當的內部監控程序，以確保全面、準確並及時地記錄會計及管理資料。

本集團設有內部審核部門，直接向審核委員會報告。

內部審計部進行定期審閱，以確保財務報表的編制符合相關會計準則以及適用的法律及法規。

內部審核部門向審核委員會及董事會提供有關本集團內部監控系統有效性的有用信息和建議。

內部監控審查報告已提交審核委員會和董事會審核，並通過若干建議，以進一步提高內部監控的有效性。

內部審核部門亦協助審核委員會監視先前所識別結果的執行情況，並向審核委員會報告補救情況。

內部審核部門通常會根據Committee of Sponsoring Organizations of the Treadway Commission（「COSO」）發佈的內部監控－二零一三年綜合框架，採用基於風險的審計方法，以審查及評估本集團內部監控系統的有效性。

China United Venture Investment Limited新華聯合投資有限公司62Independent Auditor’s Report獨立核數師報告致新華聯合投資有限公司（於開曼群島註冊成立之有限公司）意見本核數師行已審核載於第70至215頁的新華聯合投資有限公司（「貴公司」）及其附屬公司（統稱「貴集團」）綜合財務報表，當中載有於二零二二年十二月三十一日的綜合財務狀況報表以及截至該日止年度的綜合損益及其他全面收益表、綜合權益變動表及綜合現金流量表以及綜合財務報表附註，包括主要會計政策概要。

本核數師行認為，該等綜合財務報表已根據香港會計師公會（「香港會計師公會」）頒佈之香港財務報告準則（「香港財務報告準則」）真實且公平地反映貴集團於二零二二年十二月三十一日的綜合財務狀況以及截至該日止年度的綜合財務表現及綜合現金流量，並已按照香港公司條例之披露規定妥為編製。

意見的基礎本核數師行已根據香港會計師公會頒佈之香港審計準則（「香港審計準則」）進行審核工作。

本核數師行於該等準則下的責任在本報告內「核數師就審核綜合財務報表承擔之責任」部分詳述。

根據香港會計師公會的專業會計師道德守則（「守則」），本核數師行獨立於貴集團，並已遵循守則履行其他職業道德責任。

本核數師行相信，本核數師行所獲得的審核憑證能充足及適當地為本核數師行的意見提供基礎。

TOTHESHAREHOLDERSOFCHINAUNITEDVENTURE INVESTMENTLIMITED(incorporated in the Cayman Islands with limited liability)OPINIONWe have audited the consolidated financial statements of China United Venture Investment Limited (the “Company”) and its subsidiaries (hereinafter collectively referred to as the “Group”) set out on pages 70 to 215, which comprise the consolidated statement of financial position as at 31 December 2022, and the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consol idated statement of cash flows for the year then ended, and notes to the consolidated financial statements, including a summary of significant accounting policies.In our opinion, the consolidated financial statements give a true and fair view of the consolidated financial position of the Group as at 31 December 2022, and of its consolidated financial performance and its consolidated cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (the “HKICPA”) and have been properly prepared in compliance with the disclosure requirements of the Hong Kong Companies Ordinance.BASISFOROPINIONWe conducted our audit in accordance with Hong Kong Standards on Auditing (“HKSAs”) issued by the HKICPA. Our responsibi l it ies under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the HKICPA’s Code of Ethics for Professional Accountants (the “Code”) and we have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Independent Auditor’s Report獨立核數師報告63ANNUALREPORT 2022年報2022Independent Auditor’s Report獨立核數師報告Key audit mattersKey audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.Revenue recognition from contract work of comprehensive architectural servicesRefer to Note 5 to the consolidated financial statements and the accounting policies on pages 85 to 120.The key audit matter How the matter was addressed in our audit關鍵審計事項本核數師行的審計如何處理該事項We have identif ied the revenue recognition from contract work of comprehensive architectural services as a key audit matter due to the significant judgement and estimate used by management to determine the total cost to complete and the contract costs incurred for work performed to date.The Group recognised revenue from its provision of comprehensive architectural services amounted to HK$8,270,000 during the year ended 31 December 2022. The Group recognises service revenue by reference to the stage of completion of the contract activities at the end of the reporting period, measured based on the proportion of contract costs incurred for work performed to date relative to the estimated total contract costs. Accordingly, revenue recognition on these contracts involves a significant degree of management judgement in the estimation of the total contract costs and stage of completion of each contract.Our procedures in relation to revenue recognition from contract work of comprehensive architectural services included:– Obtained an understanding and evaluated m a n a g e m e n t ’s p ro c e s s re l a t i n g t o t h e estimation of total contract costs, determination of the stage of completion and recording of contract costs;– Compared contract sum and budgeted contract costs to respective signed contracts and approved budgets on a sample basis;– Discussed with the management and checked the supporting documents to evaluate the reasonableness of management’s estimation of the total contract costs and contract costs incurred for work performed to date on a sample basis;– Recalculated the percentage of completion based on the proportion of contract costs incurred for work performed to date relative to the estimated total contract costs.– Assessed reliability of contract budgets by compar ing actual contract costs against budgeted costs of completed projects prepared by the management of the Group.關鍵審核事項關鍵審核事項為根據本核數師行的專業判斷，認為對本期間綜合財務報表之審核最為重要的事項。

本核數師行在審核整體綜合財務報表及就此達致意見時處理此等事項，而不會就此等事項發表單獨意見。

全面建築服務合約工程的收入確認謹此提述綜合財務報表附註5及第85至120頁之會計政策。

China United Venture Investment Limited新華聯合投資有限公司64Independent Auditor’s Report獨立核數師報告The key audit matter How the matter was addressed in our audit關鍵審計事項本核數師行的審計如何處理該事項本核數師行已確認全面建築服務合約工程的收入確認為關鍵審核事項，原因為管理層行使重大判斷及估計以釐定總完成成本及迄今為止的工程合約成本。

截至二零二二年十二月三十一日止年度，貴集團確認提供全面建築服務獲得的收入8,270,000港元。

貴集團參照報告期末合約活動的完成階段，計量基準為迄今就進行工程而產生的合約成本相對估計總合約成本的比例確認服務收入。

因此，這些合約的收入確認涉及管理層於評估總合約成本及每份合約完成階段估計時作估算重大程度的判斷及估計。

本核數師行就全面建築服務合約工程收入確認執行之程序包括：–了解及評估管理層有關估算總合約成本、釐定完成階段及合約成本入賬的程序；–抽樣比較合約金額及預算合約成本與每份經簽署合約及經批准預算；–與管理層進行討論，並以抽樣方式檢查支持文件以評估管理層對總合約成本及迄今已進行工程所產生合約成本的估計的合理性；–根據迄今已進行工程產生的合約成本佔估計總合約成本的比例，重新計算完工百分比；及–通過比較已完成項目的實際合約成本與貴集團管理層編製的預算成本，評估合約預算的可靠性。

65ANNUALREPORT 2022年報2022Independent Auditor’s Report獨立核數師報告Valuat ion of loan receivables, t rade and other receivablesRefer to note 25 and 27 to the consolidated financial statements and the accounting policies on to 120.The key audit matter How the matter was addressed in our audit關鍵審計事項本核數師行的審計如何處理該事項As at 31 December 2022, the carrying amount of the Group’s loan receivables, trade receivables and other receivables are approximately HK$22,164,000, HK$45,686,000 and HK$41,897,000 respectively, ne t o f accumu la t ed l o ss a l l owance on l oan receivables, trade receivables and other receivables of HK$470,000, HK$11,189,000 and HK$613,000 respectively.The management of the Group performed periodic assessment on the expected credit loss (“ECL”) of the loan receivables, trade and other receivables and the sufficiency of provision for loss allowance based on information including aging of the trade receivables, historical settlement records, expected timing and amount of real ization of outstanding balances, and ongoing trading relationships with the relevant customers. The management of the Group also considered forward looking information that may impact the customers’ ability to repay the outstanding balances in order to estimate the ECL.We have ident i f ied the loss al lowance on loan receivables, trade and other receivables as a key audit matter because the amount is significant to the consolidated financial statement as a whole and the assessment of loan receivables, trade and other receivables under the ECL model involved the use of significant degree of management judgement and may be subject to management bias.Our procedures in relation to valuation of loan receivables, trade and other receivables assets included:– Reviewed the management’s assessment of ECL model and challenge the reasonableness of the methods and assumptions used to estimate ECL of loan receivables, trade and other receivables.– Obtained an understanding of the methodology for the ECL model, development processes and evaluate the design and implementation of the key controls, through review of documentation, discussion with management and management expert.– Assessed and challenged the reasonableness of assumptions and judgements made by the management of the Group on model adoption and parameters selection.– Examined the key data inputs to the ECL model on a sample basis to assess their accuracy and reasonableness.– C h e c k e d m a t h e m a t i c a l a c c u r a c y o f the calculation of the provision for loss allowance.應收貸款、貿易及其他應收賬款之估值謹此提述綜合財務報表附註25及27以及第85至120頁之會計政策。

China United Venture Investment Limited新華聯合投資有限公司66Independent Auditor’s Report獨立核數師報告其他資料貴公司董事須對其他資料負責。

其他資料包括年報所載資料，惟不包括綜合財務報表及本核數師行就此發出之核數師報告。

本核數師行對綜合財務報表的意見並不涵蓋其他資料，本核數師行亦不會對其他資料發表任何形式的核證結論。

就本核數師行審核綜合財務報表而言，本核數師行的責任為閱讀其他資料，從而考慮其他資料是否與綜合財務報表或本核數師行在審核過程中獲悉的資料存在重大抵觸，或似乎存在重大錯誤陳述。

基於本核數師行已執行的工作，倘本核數師行認為其他資料存在重大錯誤陳述，本核數師行須報告該事實。

在此方面，本核數師行並無任何報告。

The key audit matter How the matter was addressed in our audit關鍵審計事項本核數師行的審計如何處理該事項於二零二二年十二月三十一日，貴集團的應收貸款、貿易應收賬款及其他應收賬款的賬面值分別約為22,164,000港元、45,686,000港元及41,897,000港元，扣除應收貸款、貿易應收賬款及其他應收賬款的累計虧損撥備分別470,000港元、11,189,000港元及613,000港元。

貴集團管理層根據應收貸款、貿易應收賬款的賬齡、過往結算記錄、預期時間及未償還結餘變現金額及與相關客戶的持續交易關係等資料對貿易及其他應收賬款的預期信貸虧損（「預期信貸虧損」）及虧損撥備的充足性進行定期評估。

貴集團管理層亦考慮可能影響客戶償還未償還結餘的能力的前瞻性資料，以估計預期信貸虧損。

本核數師行已將應收貸款、貿易及其他應收賬款的虧損撥備確定為一項關鍵審計事項，乃由於該款項對綜合財務報表整體屬重大及根據預期信貸虧損模式評估應收貸款、貿易及其他應收賬款涉及採用重大管理層判斷，並可能受到管理層偏好所規限。

有關應收貸款、貿易及其他應收賬款之估值之程序包括：–審閱管理層對預期信貸虧損模式的評估，並對估計應收貸款、貿易及其他應收賬款的預期信貸虧損所採用的方法及假設是否合理提出質疑；–通過審閱文件及與管理層及管理專家討論獲悉預期信貸虧損模式之方法、發展程序及評估關鍵控制的設計及實施；–評估及質疑貴集團管理層對模式採納及參數甄選作出的假設及判斷的合理性；及–按抽樣基準用關鍵輸入數據檢視預期信貸虧損模式，以評估其準確性及合理性。

–核對虧損撥備計算的數學準確性。

OTHERINFORMATIONThe directors of the Company are responsible for the other information. The other information comprises the information included in the annual report other than the consolidated financial statements and our auditor’s report thereon.Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.67ANNUALREPORT 2022年報2022Independent Auditor’s Report獨立核數師報告RESPONSIBILITIESOFDIRECTORSOFTHE COMPANY AND THOSE CHARGED WITH GOVERNANCE FOR THE CONSOLIDATED FINANCIALSTATEMENTSThe directors of the Company are responsible for the preparation of the consolidated financial statements that give a true and fair view in accordance with HKFRSs issued by the HKICPA and the disclosure requirements of the Hong Kong Companies Ordinance, and for such internal control as the directors of the Company determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.In preparing the consolidated financial statements, the directors of the Company are responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors of the Company either intend to liquidate the Group or to cease operations, or have no realistic alternative but to do so.Those charged with governance are responsib le for overseeing the Group’s financial reporting process.AUDITOR’SRESPONSIBILITIESFORTHEAUDIT OFTHECONSOLIDATEDFINANCIALSTATEMENTSOur objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion, solely to you, as a body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume responsibi l i ty towards or accept liability to any other person for the contents of this report. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.貴公司董事及管治層就綜合財務報表須承擔之責任貴公司董事須負責根據香港會計師公會所頒佈之香港財務報告準則及香港公司條例之披露規定編製真實且公平的綜合財務報表，及落實貴公司董事認為必要的內部監控，致使綜合財務報表之編製不存在由於欺詐或錯誤而導致的重大錯誤陳述。

於編製綜合財務報表時，貴公司董事須負責評估貴集團持續經營的能力，並在適用情況下披露與持續經營相關的事項，並運用持續經營為會計基礎，除非貴公司董事有意將貴集團清盤或停止經營或別無其他實際的替代方案。

管治層負責監督貴集團之財務報告程序。

核數師就審核綜合財務報表承擔之責任本核數師行的目標為對綜合財務報表整體是否不存在由於欺詐或錯誤而導致的重大錯誤陳述取得合理保證，並出具包括本行意見的核數師報告。

吾等按照協定的委聘條款僅向閣下（作為整體）作出本報告，除此之外本報告別無其他目的。

本核數師行不會就本報告內容向任何其他人士負責或承擔任何責任。

合理保證是高水平的保證，但不能保證按照香港審計準則進行的審核在某一重大錯誤陳述存在時總能發現。

錯誤陳述可由欺詐或錯誤引起，倘個別或整體在合理預期情況下可影響此等綜合財務報表使用者倚賴綜合財務報表作出的經濟決定時，則被視為重大錯誤陳述。

China United Venture Investment Limited新華聯合投資有限公司68Independent Auditor’s Report獨立核數師報告本核數師行在根據香港審計準則進行審核的過程中運用專業判斷及保持專業懷疑態度。

本核數師行亦：識別及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、設計及執行審核程序以應對該等風險，以及獲取充足及適當的審核憑證，作為本核數師行意見的基礎。

由於欺詐可能涉及串謀、偽造、蓄意遺漏、虛假陳述或凌駕內部監控之上，因此未能發現因欺詐而導致的重大錯誤陳述的風險高於未能發現因錯誤而導致的重大錯誤陳述的風險。

了解與審核相關的內部監控，以設計適當的審核程序，惟並非旨在對貴集團內部監控的有效性發表意見。

評估貴公司董事所採用會計政策之恰當性及所作出會計估計及相關披露之合理性。

對 貴公司董事採用持續經營會計基礎之恰當性作出結論，並根據所獲取的審核憑證，確定是否存在與事項或情況有關的重大不確定性，從而可能導致對貴集團的持續經營能力產生重大疑慮。

倘本核數師行認為存在重大不確定性，則有必要在核數師報告中提請使用者注意綜合財務報表中的相關披露。

倘有關披露不足，則本核數師行應當發表非無保留意見。

本核數師行的結論乃基於截至本核數師報告日期止所取得的審核憑證。

然而，未來事項或情況可能導致貴集團不能持續經營。

評估綜合財務報表之整體呈列方式、結構及內容（包括披露資料），以及綜合財務報表是否公平反映相關交易及事項。

As part of an audit in accordance with HKSAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit 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 Group’ s internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors of the Company. Conclude on the appropriateness of the Company’s directors’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.69ANNUALREPORT 2022年報2022Independent Auditor’s Report獨立核數師報告 Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.We communicate with audit committee regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.We also provide audit committee with a statement that we have compl ied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate threats or safeguards applied.From the matters communicated with audit committee, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.The engagement partner on the audit resulting in this independent auditor’s report is Mr. Fan Chi Hang Stephen.Prism Hong Kong And Shanghai LimitedCertified Public AccountantsFan Chi Hang StephenPractising Certificate Number: P06144Hong Kong31 March 2024就貴集團內實體或業務活動的財務資料獲取充足及適當的審核憑證，以便對綜合財務報表發表意見。

本核數師行負責集團審核的方向、監督及執行。

本行為審核意見承擔全部責任。

除其他事項外，本核數師行與審核委員會就審核的計劃範圍、時間安排及重大審核發現溝通，包括本行在審核過程中識別的內部監控的任何重大缺陷。

本核數師行亦向審核委員作出聲明，說明本行已符合有關獨立性的相關職業道德要求，並與彼等溝通可能被合理認為會影響本行獨立性的所有關係及其他事宜，以及為消除威脅而採取的行動或應用的防範措施（如適用）。

從與審核委員會溝通的事項中，本核數師行釐定對本期間綜合財務報表之審核最為重要的事項，因而構成關鍵審核事項。

本核數師行在本核數師報告中描述該等事項，除非法律或法規不允許公開披露該等事項，或在極端罕見的情況下，倘合理預期在本報告中溝通某事項造成的負面後果超出產生的公眾利益，則本核數師行決定不應在報告中溝通該事項。

出具本獨立核數師報告的審核項目合夥人為范志恒先生。

上會栢誠會計師事務所有限公司執業會計師范志恒執業證書編號：P06144香港二零二四年三月三十一日China United Venture Investment Limited新華聯合投資有限公司70Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表For the Year Ended 31 December 2022截至二零二二年十二月三十一日止年度20222021二零二二年二零二一年Notes HK$’000 HK$’000附註千港元千港元Continuing operations持續經營業務Revenue收入5287,850339,255Cost of sales and services rendered銷售及提供服務成本(253,672) (318,229) Gross profit毛利34,17821,026Other income其他收入76,0614,744Other (losses) and gains其他（虧損）及收益8 (1,418) 4,397Impairment losses of financial assets and contract assets, net of reversal金融資產及合約資產減值虧損，扣除撥回9 (3,412) (2,812)Change in fair value of financial assets at fair value through profit or loss透過損益按公平值列賬之金融資產之公平值變動(5,475) –Change in fair value of investment properties投資物業公平值變動20 (800) (750)Share of loss of joint ventures應佔合資企業虧損(3,405) (1,789)Finance costs財務成本10 (3,865) (1,892)Selling and distribution expenses銷售及分銷開支(7,972) (8,455)Administrative expenses行政開支(75,117) (67,903) Loss before taxation除稅前虧損(61,225) (53,434)Income tax expense所得稅開支14 (249) (3,072) Loss for the year from continuing operations來自持續經營業務之年內虧損(61,474) (56,506)Discontinued operation已終止經營業務Profit for the year from discontinued operation來自已終止經營業務之年內溢利13 – 106,232 (Loss)/profit for the year年內（虧損）╱溢利15 (61,474) 49,726Other comprehensive (expense)/income其他全面（開支）╱收益Item that may be reclassified subsequently to profit or loss:其後可能重新分類至損益之項目：Exchange differences arising on translation of foreign operations換算海外業務所產生之匯兌差額(315) (6,984) Item that will not be reclassified subsequently to profit or loss:其後不會重新分類至損益之項目：Share of other comprehensive income of joint ventures應佔合資企業之其他全面收益– 5 Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表For the Year Ended 31 December 2022截至二零二二年十二月三十一日止年度71ANNUALREPORT 2022年報2022Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表For the Year Ended 31 December 2022截至二零二二年十二月三十一日止年度20222021二零二二年二零二一年Notes HK$’000 HK$’000附註千港元千港元Other comprehensive expense for the year年內其他全面開支(315) (6,979) Total comprehensive (expense)/income for the year年內全面（開支）╱收益總額(61,789) 42,747 (Loss)/profit for the year attribute to owners of the Company本公司擁有人應佔年內（虧損）╱溢利– From continuing operations －來自持續經營業務(61,906) (56,243)– From discontinued operation －來自已終止經營業務– 106,232 (61,906) 49,989 Profit/(loss) for the year attributable to non-controlling interest非控股權益應佔年內溢利╱（虧損）– From continuing operations －來自持續經營業務432 (263) (61,474) 49,726 Total comprehensive (expense)/income attributable to:以下人士應佔全面（開支）╱收益總額：– Owners of the Company －本公司擁有人(62,221) 43,010– Non-controlling interests －非控股權益432 (263) (61,789) 42,747 (Loss)/earnings per share from continuing and discontinued operations來自持續經營業務及已終止經營業務之每股（虧損）╱盈利– Basic and diluted (HK cents) －基本及攤薄（港仙） 17 (8.79) 7.10 Loss per share from continuing operations來自持續經營業務之每股虧損– Basic and diluted (HK cents) －基本及攤薄（港仙） 17 (8.79) (7.99) China United Venture Investment Limited新華聯合投資有限公司72Consolidated Statement of Financial Position綜合財務狀況表As at 31 December 2022於二零二二年十二月三十一日20222021二零二二年二零二一年Notes HK$’000 HK$’000附註千港元千港元NON-CURRENTASSETS非流動資產Property, plant and equipment物業、廠房及設備1825,28329,825Right-of-use assets使用權資產1922,58425,641Investment properties投資物業2012,70013,500Investment in joint ventures於合資企業的投資21 – 3,405Financial assets at fair value through profit or loss透過損益按公平值列賬之金融資產2247 –Other intangible asset其他無形資產231,088 –Goodwill商譽24550 –Loan receivables應收貸款255,544 – 67,79672,371 CURRENTASSETS流動資產Inventories存貨2634,36758,131Trade and other receivables貿易及其他應收賬款27104,203197,214Financial assets at fair value through profit or loss透過損益按公平值列賬之金融資產221,905 –Contract assets合約資產284,9965,266Cash and cash equivalent現金及等同現金項目29106,48484,132 251,955344,743 CURRENTLIABILITIES流動負債Trade and other payables貿易及其他應付賬款3071,411137,188Contract liabilities合約負債313,0071,663Lease liabilities租賃負債196,7565,497Tax liabilities稅項負債30,29232,425Bank and other borrowings銀行及其他借款3270,31451,675 181,780228,448 NETCURRENTASSETS流動資產淨值70,175116,295 TOTALASSETSLESSCURRENT LIABILITIES資產總額減流動負債137,971188,666 NON-CURRENTLIABILITIES非流動負債Bank and other borrowings銀行及其他借款329,926 –Deferred tax liability遞延稅項負債33445 –Lease liabilities租賃負債1912,98515,558 23,35615,558 NETASSETS資產淨值114,615173,108 Consolidated Statement of Financial Position綜合財務狀況表As at 31 December 2022於二零二二年十二月三十一日73ANNUALREPORT 2022年報2022Consolidated Statement of Financial Position綜合財務狀況表As at 31 December 2022於二零二二年十二月三十一日20222021二零二二年二零二一年Note HK$’000 HK$’000附註千港元千港元CAPITALANDRESERVES股本及儲備Share capital股本347,0407,040Reserves儲備104,601166,822 Equity attributable to owners of the Company本公司擁有人應佔之權益111,641173,862Non-controlling interests非控股權益2,974 (754) TOTALEQUITY權益總額114,615173,108 The consolidated financial statements on pages 70 to 215 were approved and authorised for issue by the board of directors on 31 March 2024 and are signed on its behalf by:Wang Li Feng Fan Xiaoling王漓峰范小令DIRECTORDIRECTOR董事董事第70至215頁之綜合財務報表於二零二四年三月三十一日獲董事會批准及授權刊發，並由以下董事代為簽署：China United Venture Investment Limited新華聯合投資有限公司74Consolidated Statement of Changes in Equity綜合權益變動表For the year ended 31 December 2022截至二零二二年十二月三十一日止年度Equity attributable to owners of the Company本公司擁有人應佔之權益Share capital Share premium Merger reserve Translation reserveRetained profits Sub-totalNon-controlling interests Total股本股份溢價合併儲備匯兌儲備保留溢利小計非控股權益總計HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元千港元千港元千港元千港元(note 34) (note i) (note ii)（附註34） （附註i） （附註ii）At 1 January 2021於二零二一年一月一日7,0405,43868012,554107,968133,680 (491) 133,189 Profit/(loss) for the year年內溢利╱（虧損） – – – – 49,98949,989 (263) 49,726Other comprehensive (expense)/income for the year年內其他全面（開支）╱收益Exchange differences arising on translation of foreign operations換算海外業務所產生之匯兌差額– – – (6,984) – (6,984) – (6,984)Share of other comprehensive income of joint ventures應佔合資企業之其他全面收益– – – 5 – 5 – 5 – – – (6,979) – (6,979) – (6,979) Total comprehensive (expense)/income全面（開支）╱收益總額– – – (6,979) 49,98943,010 (263) 42,747 Release of exchange translation reserve upon disposal of a subsidiary (note 38)於出售一間附屬公司時解除外匯匯兌儲備（附註38） – – – (2,828) – (2,828) – (2,828) At 31 December 2021於二零二一年十二月三十一日7,0405,4386802,747157,957173,862 (754) 173,108 Consolidated Statement of Changes in Equity綜合權益變動表For the year ended 31 December 2022截至二零二二年十二月三十一日止年度75ANNUALREPORT 2022年報2022Consolidated Statement of Changes in Equity綜合權益變動表For the year ended 31 December 2022截至二零二二年十二月三十一日止年度附註：i.於二零二零年六月三日，本公司與配售代理訂立配售協議，據此，配售代理按配售價每股配售股份0.1港元向若干獨立承配人配售64,000,000股配售股份。

認購所得款項淨額已扣除相關發行成本及開支。

ii.本集團合併儲備指所收購附屬公司的股本面值與本公司就二零零一年集團重組項下的收購事項所發行股本的面值間的差額。

Equity attributable to owners of the Company本公司擁有人應佔之權益Share capital Share premium Merger reserve Translation reserveRetained profits Sub-totalNon-controlling interests Total股本股份溢價合併儲備匯兌儲備保留溢利小計非控股權益總計HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元千港元千港元千港元千港元(note 34) (note i) (note ii)（附註34） （附註i） （附註ii）At 1 January 2022於二零二二年一月一日7,0405,4386802,747157,957173,862 (754) 173,108 Loss for the year年內虧損– – – – (61,906) (61,906) 432 (61,474)Other comprehensive expense for the year年內其他全面開支Exchange differences arising on translation of foreign operations換算海外業務所產生之匯兌差額– – – (315) – (315) – (315) Total comprehensive (expense)/income全面（開支）╱收益總額– – – (315) (61,906) (62,221) 432 (61,789) Acquisition of subsidiaries during the year (note 37)年內收購附屬公司（附註37） – – – – – – 3,2963,296 At 31 December 2022於二零二二年十二月三十一日7,0405,4386802,43296,051111,6412,974114,615 Notes:i. On 3 June 2020, the Company entered into a placing agreement with a placing agent pursuant to which the placing agent placed 64,000,000 placing shares at the placing price of a HK$0.1 per placing share to certain independent places. The net proceeds from the subscription is net of related issued costs and expenses.ii. The merger reserve of the Group represents the difference between the nominal value of the share capital of the subsidiaries acquired and the nominal value of the share capital of the Company issued for the acquisition under the group reorganisation in 2001.China United Venture Investment Limited新華聯合投資有限公司76Consolidated Statement of Cash Flows綜合現金流量表For the year ended 31 December 2022截至二零二二年十二月三十一日止年度20222021二零二二年二零二一年Notes HK$’000 HK$’000附註千港元千港元OPERATINGACTIVITIES經營業務Loss before taxation from continuing operations來自持續經營業務之除稅前虧損(61,225) (53,434)Profit before taxation from discontinued operation來自已終止經營業務之除稅前溢利13 – 106,232 (61,225) 52,798 Adjustments for:就以下各項作出調整：Change in fair value of investment properties投資物業公平值變動800750Depreciation of property, plant and equipment物業、廠房及設備折舊4,2774,994Depreciation of right-of-use assets使用權資產折舊5,8373,118Amortisation of other intangible asset其他無形資產攤銷692 –Finance costs財務成本3,8651,892Interest income on bank deposits銀行存款利息收入(515) (210)Interest income on loan receivables應收貸款利息收入(834) –Dividend income from equity instruments股權工具利息收入(36) –Loss on write-off of property, plant and equipment撇銷物業、廠房及設備虧損39 –Gain on disposal of a subsidiary出售一間附屬公司之收益38 – (107,885)Impairment losses of financial assets and contract assets, net of reversal金融資產及合約資產減值虧損，扣除撥回3,4122,812Provision of allowance for inventories存貨撥備1,5577,826Written off of other payables and accrual撇銷其他應付賬款及預提費用– (315)Change in fair value of financial assets at fair value through profit or loss透過損益按公平值列賬之金融資產公平值變動5,475 –Share of loss of joint ventures應佔合資企業虧損3,4051,789 Operating cash flows before movements in working capital營運資金變動前之經營現金流量(33,251) (32,431)Decrease/(increase) in inventories存貨減少╱（增加） 19,778 (15,368)Decrease/(increase) in trade and other receivables貿易及其他應收賬款減少╱ （增加） 91,289 (80,705)Decrease/(increase) in contract assets合約資產減少╱（增加） 152 (2,219)(Decrease)/increase in trade and other payables貿易及其他應付賬款（減少）╱增加(66,311) 69,789Increase in contract liabilities合約負債增加1,344107 Cash generated from/(used in) operations經營所得╱（所用）現金13,001 (60,827)Income tax paid已付所得稅(2,382) (13,946) Consolidated Statement of Cash Flows綜合現金流量表For the year ended 31 December 2022截至二零二二年十二月三十一日止年度77ANNUALREPORT 2022年報2022Consolidated Statement of Cash Flows綜合現金流量表For the year ended 31 December 2022截至二零二二年十二月三十一日止年度20222021二零二二年二零二一年Notes HK$’000 HK$’000附註千港元千港元NETCASHFROM/(USEDIN) OPERATINGACTIVITIES經營業務所得╱（所用） 現金淨額10,619 (74,773) INVESTINGACTIVITIES投資業務Purchase of property, plant and equipment購買物業、廠房及設備(1,753) (4,172)Purchase of financial assets at fair value through profit or loss購買透過損益按公平值列賬之金融資產(7,427) –(Advance to)/repayment from a joint venture（向一間合資企業墊款）╱一間合資企業還款(1) 3Advance to a third party向一名第三方墊款(5,640) –Interest received on bank deposits已收銀行存款利息515210Interest received on loan receivables已收應收貸款利息834 –Net cash flow from acquisition of subsidiaries收購附屬公司所得現金流量淨額37249 –Net cash flow from disposal of a subsidiary出售一間附屬公司所得現金流量淨額38 – 59,754 NETCASH (USEDIN)/FROM INVESTINGACTIVITIES投資業務（所用）╱所得現金淨額(13,223) 55,795 FINANCINGACTIVITIES融資業務New bank borrowings raised新籌集之銀行借款44,56951,675Repayments of bank borrowings銀行借款還款(43,127) –Interest paid for bank borrowings已付銀行借款利息(1,725) (1,053)Interest paid for other borrowings to a related party向一名關聯方支付其他借款利息(856) –Advance from a director來自一名董事之墊款211 –New other borrowing raised from an independent third party自一名獨立第三方籌集之新其他借款2,188 –New other borrowings raised from a related party自一名關聯方籌集之新其他借款78,000 –Repayment of other borrowings to a related party向一名關聯方償還其他借款(49,924) –Dividends received from financial assets at fair value through profit or loss透過損益按公平值列賬之金融資產收取的股息36 –Repayment of principal portion of lease liabilities租賃負債本金部分還款(4,532) (2,522)Interest paid for leases已付租賃利息(1,190) (839) China United Venture Investment Limited新華聯合投資有限公司78Consolidated Statement of Cash Flows綜合現金流量表For the year ended 31 December 2022截至二零二二年十二月三十一日止年度20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元NETCASHFROMFINANCING ACTIVITIES融資業務所得現金淨額23,65047,261 NETINCREASEINCASHAND CASHEQUIVALENTS現金及等同現金項目增加淨額21,04628,283CASHANDCASHEQUIVALENTS AT 1 JANUARY於一月一日之現金及等同現金項目84,13256,403EFFECTOFFOREIGNEXCHANGE RATECHANGES匯率變動之影響1,306 (554) CASHANDCASHEQUIVALENTS AT 31 DECEMBER, REPRESENTEDBYBANK BALANCESANDCASH於十二月三十一日之現金及等同現金項目，以銀行結餘及現金表示106,48484,132 79ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度1.一般資料新華聯合投資有限公司（「本公司」）為在開曼群島註冊成立並於百慕達存續之有限公司。

本公司股份於香港聯合交易所有限公司GEM上市。

本公司註冊辦事處地址為C la rendon House,2 Church St reet , Hami l ton HM11, Bermuda，及於香港的主要經營地點已由香港中環畢打街1-3號中建大廈10樓1033室變更為香港中環夏愨道12號美國銀行中心18樓1801-1802室，自二零二二年五月十一日起生效。

本公司的主要業務為投資控股，而附屬公司的主要業務載於綜合財務報表附註42。

董事認為，本公司的控股公司及最終控股公司分別為於英屬處女群島註冊成立的PTDesign Group Holdings Limited及Wise Thinker Holdings Limited。

綜合財務報表乃以港元（「港元」）呈列。

本公司功能貨幣為美元（「美元」）。

鑑於本公司於香港上市，本公司董事認為以港元呈列綜合財務報表實屬恰當。

1. GENERALChina Uni ted Venture Investment L imi ted ( the “Company”) was incorporated in the Cayman Islands and continued in Bermuda with limited liability. The shares of the Company were listed on GEM of The Stock Exchange of Hong Kong Limited.The addresses of the registered office of the Company is located at Clarendon House,2 Church Street, Hamilton HM11, Bermuda and the principal place of business in Hong Kong is at Room 1801-1802, 18/F., Bank of America Tower, No.12 Harcourt Road, Central, Hong Kong, changed from Room 1033,10/F., Central Building,1-3 Pedder Street, Central, Hong Kong, effective from 11 May 2022.The principal activity of the Company is investment holding, and the principal activities of subsidiaries are set out in note 42 to the consolidated financial statements.In the opinion of the directors, the holding company and the ultimate holding company of the Company are PTDesign Group Holdings Limited and Wise Thinker Holdings Limited respectively, which are both incorporated in the British Virgin Islands.The consolidated financial statements are presented in Hong Kong dollars (“HK$”). The functional currency of the Company is United States dollars (“USD”). As the Company is listed in Hong Kong, the directors of the Company consider that it is appropriate to present the consolidated financial statements in HK$.Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度China United Venture Investment Limited新華聯合投資有限公司80Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度2.編製基準綜合財務報表乃根據香港會計師公會頒佈之香港財務報告準則編製。

此外，綜合財務報表包括聯交所GEM證券上市規則（「GEM上市規則」）及香港公司條例規定之適當披露。

公平值指於計量日期時在合法交易中的市場參與者之間出售資產時所收取或轉讓負債時所支付的價格，不管價格為直接觀測可得或利用下文所載會計政策闡述的另一公平值計量估價技巧估計所得。

誠如下文列載之會計政策所闡述，綜合財務報表乃按歷史成本法編製，而投資物業及按公平值計入損益（「按公平值計入損益」）的金融資產則按於每個報告期末之公平值計量。

歷史成本一般根據用作交換貨品及服務所付出代價之公平值計算。

主要會計政策載列如下。

綜合準則綜合財務報表包括本公司及受本公司控制之實體及其附屬公司的財務報表。

當本集團( i )擁有對被投資公司之權力；( i i )面臨或擁有參與被投資公司所得可變回報之風險或權利；及(i i i)擁有行使其權力以影響其回報之能力取得控制權。

於一般情況下均存在多數投票權形成控制權之推定。

倘本公司直接或間接擁有少於投資對象大多數投票或類似權利的權利，則本集團於評估其是否擁有對投資對象的權力時會考慮一切相關事實及情況，包括：(a)與投資對象其他投票持有人的合約安排；(b)其他合約安排所產生的權利；及(c)本集團的投票權及潛在投票權。

2. BASISOFPREPARATIONThe consolidated financial statements have been prepared in accordance with HKFRSs issued by the HKICPA. In addition, the consolidated financial statements include applicable disclosures required by the Rules Governing the Listing of Securities on GEM of the Stock Exchange (the “GEMListing Rules”) and by the Hong Kong Companies Ordinance.Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market part ic ipants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique of fair value measurement are explained in the accounting policies set out below.The consolidated financial statements have been prepared on the historical cost basis except for investment properties and financial assets at fair value through profit or loss (“FVTPL”) that are measured at fair values, at the end of each reporting period.Historical cost is generally based on the fair value of the consideration given in exchange for goods and services.The Significant accounting policies are set out below.Basis of consolidationThe consolidated financial statements include the financial statements of the Company and entities controlled by the Company and its subsidiaries. Control is achieved when the Group has: (i) the power over the investee; (ii) exposure, or rights, to variable returns from its involvement with the investee; and (iii) the ability to use its power over the investee to affect those returns.Generally, there is a presumption that a majority of voting rights results in control. When the Company has, directly or indirectly, less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:(a) the contractual arrangement with the other vote holders of the investee;(b) r i g h t s a r i s i n g f r o m o t h e r c o n t r a c t u a l arrangements; and(c) the Group’s voting rights and potential voting rights.81ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度2.編製基準（續）綜合準則（續）附屬公司的財務報表，乃與本公司於相同報告期間內採納貫徹一致的會計政策編製。

附屬公司的業績由本集團取得控制權當日起綜合入賬，並繼續綜合入賬直至該項控制權終止日期為止。

損益及其他全面收益的各個部分仍會歸屬於本集團的母公司擁有人及非控股權益，即使會導致非控股權益出現虧損結餘。

所有與本集團成員公司間交易有關的集團內公司間資產及負債、權益、收入、開支及現金流量於綜合入賬時悉數對銷。

倘事實及情況顯示上文所述三項控制權因素中的一項或多項出現變動，則本集團會重新評估其是否擁有對投資對象的控制權。

於附屬公司擁有權權益的變動（並無失去控制權）於入賬時列作權益交易。

若本集團失去對附屬公司的控制權，則其應終止確認( i )附屬公司的資產（包括商譽）及負債；(ii)任何非控股權益的賬面值；及( i i i )於權益記錄的累計換算差異；並確認( i )已收代價的公平值；( i i )任何留存投資的公平值；(i i i)及因此產生並計入損益的任何盈虧。

先前於其他全面收益已確認的本集團應佔部份會按倘本集團直接出售相關資產或負債所要求的相同基準重新分類至損益或保留溢利（如適當）。

2. BASISOFPREPARATION (Continued)Basis of consolidation (Continued)The f inancial statements of the subsidiaries are prepared for the same report ing period as the Company, using consistent accounting policies. The results of subsidiaries are consolidated from the date on which the Group obtains control, and continue to be consolidated until the date that such control ceases.Profit or loss and each component of other comprehensive income are attributed to the owners of the parent of the Group and to the non-controlling interests, even if this results in the non-controlling interests having a deficit balance. All intra-group assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.The Group reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control described above. A change in the ownership interest of a subsidiary, without a loss of control, is accounted for as an equity transaction.If the Group loses control over a subsidiary, i t derecognises (i) the assets (including goodwill) and liabilities of the subsidiary, (ii) the carrying amount of any non-controlling interest and (iii) the cumulative translat ion di fferences recorded in equity; and recognises (i) the fair value of the consideration received, (ii) the fair value of any investment retained and (iii) any resulting surplus or deficit in profit or loss. The Group’s share of components previously recognised in other comprehens ive income is reclassified to profit or loss or retained profits, as appropriate, on the same basis as would be required if the Group had directly disposed of the related assets or liabilities.China United Venture Investment Limited新華聯合投資有限公司82Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度2.編製基準（續）應用新訂香港財務報告準則及香港財務報告準則修訂本本年度，本公司及其附屬公司（統稱「本集團」）已首次採納以下由香港會計師公會（「香港會計師公會」）頒佈於本集團在二零二二年一月一日開始的財政年度生效的香港財務報告準則修訂本：香港財務報告準則第16號（修訂本）COVID-19－二零二一年六月三十日之後的相關租金寬減香港財務報告準則第3號（修訂本）對概念架構的提述香港會計準則第16號（修訂本）物業、廠房及設備－作擬定用途前的所得款項香港會計準則第37號（修訂本）虧損合約－履行合約的成本香港財務報告準則（修訂本）二零一八年至二零二零年香港財務報告準則的年度改進會計指引第5號（經修訂）共同控制合併之合併會計處理於本年度採納新訂香港財務報告準則及香港財務報告準則修訂本對本集團於本期間及過往期間的財務表現及狀況及╱或該等綜合財務報表所載披露並無重大影響。

2. BASISOFPREPARATION (Continued)Application of new and amendments to HKFRSsIn the current year, the Company and its subsidiaries (hereinafter collectively referred as the “Group”) has applied, for the first time, the following amendments to HKFRSs issued by the Hong Kong Institute of Certified Public Accountants (the “HKICPA”) which are effective for the Group’s financial year beginning on 1 January 2022:Amendment to HKFRS 16 Covid-19-Related Rent Concessions beyond 30 June 2021Amendments to HKFRS 3 Reference to the Conceptual Framework Amendments to HKAS 16 Property, plant and Equipment: Proceeds before Intended Use Amendments to HKAS 37 Onerous Contracts – Cost of Fulfilling a Contract Amendments to HKFRSs Annual Improvements to HKFRSs 2018 – 2020 cycle Accounting Guideline 5 (Revised)Merger Accounting for Common Control CombinationsThe application of the new and amendments to HKFRSs in the current year has had no material effect on the Group’s financial performance and positions for the current and prior periods and/or on the disclosures set out in these consolidated financial statements.83ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度2.編製基準（續）已頒佈但尚未生效的新訂香港財務報告準則及香港財務報告準則修訂本本集團並未提早應用以下已頒佈但尚未生效的新訂香港財務報告準則及香港財務報告準則修訂本：香港財務報告準則第17號（包括二零二零年十月及二零二二年二月香港財務報告準則第17號（修訂本））保險合約1香港財務報告準則第10號及香港會計準則第28號（修訂本）投資者與其聯營公司或合資企業之間的資產出售或注資4香港財務報告準則第16號（修訂本）售後租回交易中的租賃負債2香港會計準則第1號（修訂本）負債的流動或非流動分類及香港詮釋第5(2020)號的相關修訂本「財務報表的呈列－借款人對含有按要求償還條款的定期貸款的分類」2香港會計準則第1號（修訂本）附帶契諾的非流動負債2香港會計準則第1號及香港財務報告準則實務公告第2號（修訂本）會計政策的披露1香港會計準則第8號（修訂本）會計政策的定義1香港會計準則第12號（修訂本）與單筆交易產生的資產和負債相關的遞延稅項1香港會計準則第7號及香港財務報告準則第7號（修訂本）供應商融資安排2香港會計準則第21號（修訂本）缺乏可交換性32. BASISOFPREPARATION (Continued)New and amendments to HKFRSs issued but not yet effectiveThe Group has not early applied the following new and amendments to HKFRSs that have been issued but are not yet effective:HKFRS 17 (including the October 2020 and February 2022 amendments to HKFRS 17)Insurance Contracts1Amendments to HKFRS 10 and HKAS 28Sale or Contribution of Assets between an Investor and its Associate or Joint Venture4Amendments to HKFRS 16Lease Liability in a Sale and Leaseback2Amendments to HKAS 1Classification of Liabilities as Current or Non-current and the related amendments to Hong Kong Interpretation 5(2020) Presentation of Financial Statements – Classification by the Borrower of a Term Loan that Contains a Repayment on Demand Clause2Amendments to HKAS 1Non-current Liabilities with Covenants2Amendments to HKAS 1 and HKFRSPractice Statement 2Disclosure of Accounting Policies1Amendments to HKAS 8Definition of Accounting Policies1Amendments to HKAS 12Deferred Tax related to Assets and Liabilities arising from a Single Transaction1Amendments to HKAS 7 and HKFRS 7Supplier Finance Arrangements2Amendments to HKAS 21Lack of Exchangeability3China United Venture Investment Limited新華聯合投資有限公司84Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度2.編製基準（續）已頒佈但尚未生效的新訂香港財務報告準則及香港財務報告準則修訂本（續）1於二零二三年一月一日或之後開始的年度期間生效2於二零二四年一月一日或之後開始的年度期間生效3於二零二五年一月一日或之後開始的年度期間生效4於待釐定日期當日或之後開始的年度期間生效本公司董事預期，採用新訂香港財務報告準則及香港財務報告準則修訂本將不會對本集團的業績及財務狀況造成重大影響。

3.重大會計政策業務合併及商譽業務合併採取收購法入賬。

轉讓代價應按收購日期之公平值計量，即收購日期本集團轉讓之資產公平值，本集團應付被收購方前擁有人之負債以及為換取被收購方之控制權而發行之股票權益總和。

於各業務合併中，本集團選擇是否以公平值或被收購方可識別資產淨值之應佔比例，計算於被收購方屬現時擁有權權益並賦予其持有人權利於清盤時按比例分佔實體之淨資產之非控股權益。

非控股權益之一切其他成分乃按公平值計量。

收購相關成本於發生時列作支出。

2. BASISOFPREPARATION (Continued)New and amendments to HKFRSs issued but not yet effective (Continued)1 Effective for annual periods beginning on or offer 1 January 20232 Effective for annual periods beginning on or after 1 January 20243 Effective for annual periods beginning on or after 1 January 20254 Effective for annual periods beginning on or after a date to be determinedThe directors of the Company anticipate that the application of the new and amendments to HKFRSs will have no material impact on the results and the financial position of the Group.3. SIGNIFICANTACCOUNTINGPOLICIESBusiness combinations and goodwillBusiness combinations are accounted for using the acquisition method. The consideration transferred is measured at the acquisition date fair value which is the sum of the acquisition date fair values of assets transferred by the Group, liabilities assumed by the Group to the former owners of the acquiree and the equity interests issued by the Group in exchange for control of the acquiree. For each business combination, the Group elects whether to measure the non-controlling interests in the acquiree that are present ownership interests and entitle their holders to a proportionate share of net assets in the event of liquidation at fair value or at the proportionate share of the acquiree’s identifiable net assets. All other components of non-controlling interests are measured at fair value. Acquisition-related costs are expensed as incurred.85ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）業務合併及商譽（續）當所收購的一組活動及資產包含共同對創造產出的能力有重大貢獻的一項投入及一項實質性程序，本集團認為其已收購一項業務。

當本集團收購業務時，須根據合約條款、收購日期之經濟環境及相關條件對所承擔金融資產及負債進行評估，以作出適當分類及指定，包括將被收購方主合約中之內嵌式衍生工具分開。

倘業務合併分階段進行，先前持有之股權按其收購日期之公平值重新計量，而任何造成的收益或虧損於損益確認。

商譽初始按成本計量，即已轉讓代價、非控股權益的已確認金額及本集團先前持有的被收購方股權的任何公平值總額，與所收購可識別資產及所承擔負債之間的差額。

倘該代價與其他項目的總和低於所收購資產淨值的公平值，該等差額於重新評估後，於損益中確認為議價購買收益。

於初始確認後，商譽按成本減任何累計減值虧損計量。

商譽須每年作減值測試，若有事件發生或情況改變顯示賬面值可能減值時，則會更頻繁地進行測試。

本集團於每年的十二月三十一日對商譽進行年度減值測試。

為進行減值測試，於業務合併中收購的商譽會自收購日期起分配至每個預期可從合併協同效應中獲益之各現金產生單位或現金產生單位組合，而不論本集團其他資產或負債是否獲分配至該等單位或單位組合。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Business combinations and goodwill (Continued)The Group determines that it has acquired a business when the acquired set of activities and assets includes an input and a substantive process that together significantly contribute to the ability to create outputs. When the Group acquires a business, it assesses the financial assets and liabilities assumed for appropriate classification and designation in accordance with the contractual terms, economic circumstances and pertinent conditions as at the acquisition date. This includes the separation of embedded derivatives in host contracts of the acquiree.If the business combination is achieved in stages, the previously held equity interest is remeasured at its acquisition date fair value and any resulting gain or loss is recognised in profit or loss.Goodwill is initially measured at cost, being the excess of the aggregate of the consideration transferred, the amount recognised for non-controlling interests and any fair value of the Group’s previously held equity interests in the acquiree over the identifiable assets acquired and liabilities assumed. If the sum of this consideration and other items is lower than the fair value of the net assets acquired, the difference is, after reassessment, recognised in profit or loss as a gain on bargain purchase.After initial recognition, goodwill is measured at cost less any accumulated impairment losses. Goodwill is tested for impairment annually or more frequently if events or changes in circumstances indicate that the carrying value may be impaired. The Group performs its annual impairment test of goodwill as at 31 December. For the purpose of impairment testing, goodwill acquired in a business combination is, from the acquisition date, allocated to each of the Group’s cash-generating units, or groups of cash-generating units, that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the Group are assigned to those units or groups of units.China United Venture Investment Limited新華聯合投資有限公司86Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）業務合併及商譽（續）減值會通過評估與商譽有關的現金產生單位（現金產生單位組別）的可收回金額釐定。

當現金產生單位（現金產生單位組別）的可收回金額低於賬面值時，則會確認減值虧損。

已就商譽確認的減值虧損不得於其後期間撥回。

倘商譽被分配至現金產生單位（或現金產生單位組別）而該單位的部份業務已售出，則在釐定出售業務的收益或虧損時，與售出業務相關的商譽會計入該業務的賬面值。

在該等情況下售出的商譽，會根據售出業務的相對價值及現金產生單位的留存份額進行計量。

於合資企業的投資合資企業為合營方對該安排的淨資產享有權利的合營安排。

共同控制為按照相關約定對某項安排所共有的控制，並且該安排的相關活動必須經過分享控制權的參與方一致同意後才能決策。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Business combinations and goodwill (Continued)Impairment is determined by assessing the recoverable amount of the cash-generating unit (group of cash-generating units) to which the goodwill relates. Where the recoverable amount of the cash-generating unit (group of cash-generating units) is less than the carrying amount, an impairment loss is recognised. An impairment loss recognised for goodwill is not reversed in a subsequent period.Where goodwil l has been al located to a cash-generating unit (or group of cash-generating units) and part of the operation within that unit is disposed of, the goodwill associated with the operation disposed of is included in the carrying amount of the operation when determining the gain or loss on the disposal. Goodwill disposed of in these circumstances is measured based on the relative value of the operation disposed of and the portion of the cash-generating unit retained.Investment in joint venturesA joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control.87ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）於合資企業的投資（續）本集團於合資企業之投資在合併財務狀況表中，以按照權益法計算的本集團應佔淨資產份額扣除減值虧損後的餘額列示。

當中作出調整以使可能存在的任何不同會計政策保持一致。

本集團應佔合資企業收購後業績及其他綜合收益分別計入綜合損益及其他全面收益表內。

此外，當合資企業的權益發生變化，如適用，本集團將在綜合權益變動表中確認變化的相應份額。

本集團與合資企業之間因交易產生的未實現收益或虧損，在本集團於合資企業中的投資的範圍內予以抵銷，除非有證據表明未實現的虧損屬於所轉讓資產的減值。

本集團對合資企業的投資包含因收購合資企業所產生的商譽。

當對合資企業的投資被歸類為持有待售資產，該投資將根據香港財務報告準則第5號持作出售非流動資產及終止經營業務進行核算。

收入確認客戶合約收入客戶合約收入於貨品或服務的控制權轉讓予客戶時按反映本集團預期就交換該等貨品或服務有權獲得的代價金額確認。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Investment in joint ventures (Continued)The Group’s investments in joint ventures are stated in the consolidated statement of financial position at the Group’s share of net assets under the equity method of accounting, less any impairment losses. Adjustments are made to bring into line any dissimilar accounting policies that may exist. The Group’s share of the post-acquisition results and other comprehensive income of joint ventures is included in the consolidated statement of profit or loss and consolidated other comprehensive income, respectively. In addition, when there has been a change recognised directly in the equity of the joint venture, the Group recognises its share of any changes, when applicable, in the consolidated statement of changes in equity. Unrealised gains and losses resulting from transactions between the Group and its joint ventures are eliminated to the extent of the Group’s investments in joint ventures, except where unrealised losses provide evidence of an impairment of the assets transferred. Goodwill arising from the acquisition of joint ventures is included as part of the Group’s investments in joint ventures.When an investment in a joint venture is classified as held for sale, it is accounted for in accordance with HKFRS 5 Non-current Assets Held for Sale and Discontinued Operations .Revenue RecognitionRevenue from contracts with customersRevenue from contracts with customers is recognised when control of goods or services is transferred to the customers at an amount that reflects the consideration to which the Group expects to be entitled in exchange for those goods or services.China United Venture Investment Limited新華聯合投資有限公司88Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）收入確認（續）客戶合約收入（續）當合約中的代價包括可變金額時，估計本集團就將貨品或服務轉讓至客戶有權賺取的代價金額。

可變代價在合約開始時估計並受到限制，直至與可變代價的不確定性其後得以解決時，所確認的累計收入金額中很可能不會出現重大收入撥回。

(a)銷售接駁產品來自銷售接駁產品的收入乃於資產控制權轉讓予客戶的時點（一般為交貨時）確認。

(b)建築服務提供建築服務的收入隨時間確認收入，使用輸入法計量完整履行服務的進度，因為本集團之履約行為創造或改良了客戶在資產被創造或改良時已控制的資產。

輸入法按已實際產生的成本佔完成建築服務所需估計總成本的比例而確認收入。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Revenue Recognition (Continued)Revenue from contracts with customers (Continued)When the consideration in a contract includes a variable amount, the amount of consideration is estimated to which the Group will be entitled in exchange for transferring the goods or services to the customer. The variable consideration is estimated at contract inception and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the associated uncertainty with the variable consideration is subsequently resolved.(a) Sale of connectively productsRevenue from the sale of connectively products is recognised at the point in time when control of the asset is transferred to the customer, general ly on del ivery of the connect ive ly products.(b) Construction servicesRevenue from the provision of construction services is recognised over time, using an input method to measure progress towards complete satisfaction of the service, because the Group’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced. The input method recognises revenue based on the proportion of the actual costs incurred relative to the estimated total costs for sat isfact ion of the construct ion services.89ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）收入確認（續）客戶合約收入（續）(b)建築服務（續）向客戶提出之索償乃本集團尋求向客戶收取之金額，作為原建築合約以外工程範圍之成本及利潤之補償款項。

索償乃作為可變代價列賬並受到約束，直至與可變代價相關之不明朗因素其後得以解決，已確認累計收入很可能不會發生重大收入撥回為止。

本集團使用預期價值法估計索償金額，乃由於此方法最能預測本集團將有權獲得之可變代價金額。

(c)財務服務來自就財務項目提供支援服務的財務服務收入於提供相關服務時確認，而客戶同時收取及消費本集團提供的利益。

其他收益租金收入於租期內按時間比例基準確認。

不取決於指數或利率之可變租賃付款乃以賺取有關付款之會計期間確認為收入。

利息收入採用實際利率法按累計基準確認，並採用將金融工具於其預計年期或較短期間（倘適用）的估計未來現金收入準確折現至金融資產賬面淨值的利率。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Revenue Recognition (Continued)Revenue from contracts with customers (Continued)(b) Construction services (Continued)Claims to customers are amounts that the Group seeks to collect from the customers as reimbursement of costs and margins for scope of works not included in the original construction contract. Claims are accounted for as variable consideration and constrained until it is highly probable that a significant revenue reversal in the amount of cumulative revenue recognised will not occur when the associated uncertainty with the variable consideration is subsequently resolved. The Group uses the expected value method to estimate the amounts of claims because this method best predicts the amount of variable consideration to which the Group will be entitled.(c) Financial servicesFinancial service income derived from the provision of support services in connection with financial projects is recognised when the relevant services are rendered and the customer simultaneously receives and consumes the benefits provided by the Group.Other incomeRental income is recognised on a time proportion basis over the lease terms. Variable lease payments that do not depend on an index or a rate are recognised as income in the accounting period in which they are incurred.Interest income is recognised on an accrual basis using the effective interest method by applying the rate that exactly discounts the estimated future cash receipts over the expected life of the financial instrument or a shorter period, when appropriate, to the net carrying amount of the financial asset.China United Venture Investment Limited新華聯合投資有限公司90Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）收入確認（續）其他收益（續）股息收入乃於股東收取付款之權利確立後，與股息相關之經濟利益很可能會流入本集團，且股息金額能夠可靠地計量時確認。

工裝及取樣收入乃於客戶取得產品擁有權及接納產品時確認。

合約資產合約資產是向客戶轉讓貨物或服務以換取代價的權利。

倘若本集團在客戶支付代價前或付款到期前通過向客戶轉讓商品或服務來履行合約，則合約資產按已賺取的有條件代價確認。

合約資產須進行減值評估，詳情見金融資產減值的會計政策。

合約負債合約負債在本集團轉讓相關商品或服務之前收到客戶付款或付款到期（以較早者為准）時確認。

合約負債在本集團履行合約（即向客戶轉移相關貨物或服務的控制權）時確認為收入。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Revenue Recognition (Continued)Other income (Continued)Dividend income is recognised when the shareholders’ right to receive payment has been established, it is probable that the economic benefits associated with the dividend will flow to the Group and the amount of the dividend can be measured reliably.Tooling and sampling income is recognised when the customer takes possession of and accepts the products.Contract assetsA contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before payment is due, a contract asset is recognised for the earned consideration that is conditional. Contract assets are subject to impairment assessment, details of which are included in the accounting policies for impairment of financial assets.Contract liabilitiesA contract liability is recognised when a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognised as revenue when the Group performs under the contract (i.e., transfers control of the related goods or services to the customer).91ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）租賃租賃的定義倘合約轉讓在一段時間內控制使用已識別資產的權利以換取代價，則合約為或包含租賃。

本集團作為承租人就於首次應用香港財務報告準則第16號日期或之後或因業務合併而訂立或修訂的合約而言，本集團於合約開始時或修訂日評估合約是否為租賃或包含租賃。

除短期租賃（定義為租賃期為自開展日期起12個月或以下且不含購買權之租賃）以及低價值資產的租賃外，本集團就其作為承租人之所有租賃安排確認使用權資產及相應租賃負債。

就該等租賃而言，本集團於租賃期內按直線基準確認租賃款項為經營開支，除非另有系統化基準更能代表耗用租賃資產所產生經濟利益之時間模式，則另作別論。

租賃負債於開始日期，本集團按當日未支付之租賃付款的現值計量租賃負債。

租賃付款乃使用租賃中隱含的利率貼現。

如該利率無法易於釐定，則本集團使用其增量借款利率。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)LeasingDefinition of a leaseA contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration.The Group as a lesseeFor contracts entered into or modified on or after the date of initial application of HKFRS 16 or arising from business combinations, the Group assesses whether a contract is or contains a lease, at inception of the contract. The Group recognises a right-of-use asset and a corresponding lease liability with respect to all lease arrangements in which it is the lessee, except for short-term leases (defined as leases with a lease term of 12 months or less from the commencement date and do not contain a purchase option) and leases of low value assets. For these leases, the Group recognises the lease payments as an operating expense on a straight-line basis over the term of the lease unless another systematic basis is more representative of the time pattern in which economic benefits from the leased assets are consumed.Lease liabilitiesAt the commencement date, the Group measures lease l iabi l i ty at the present value of the lease payments that are not paid at that date. The lease payments are discounted by using the interest rate implicit in the lease. If this rate cannot be readily determined, the Group uses its incremental borrowing rate.China United Venture Investment Limited新華聯合投資有限公司92Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）租賃（續）本集團作為承租人（續）租賃負債（續）計入租賃負債計量的租賃付款包括：固定付款（包括實質固定付款）減任何應收租賃優惠；可變租賃付款，其取決於一項指數或利率，初步計量時使用開始日期的指數或利率；承租人根據剩餘價值擔保預期應付金額；購買權的行使價（倘承租人合理確定將行使該等權利）；及終止租賃的罰金付款（倘租賃條款反映本集團行使權利以終止租賃）。

租賃負債在綜合財務狀況表中單獨呈列。

租賃負債其後計算為透過增加賬面值以反映租賃負債的利息（採用實際利率法）及透過減少賬面值以反映作出的租賃付款。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Leasing (Continued)The Group as a lessee (Continued)Lease liabilities (Continued)Lease payments included in the measurement of the lease liability comprise: fixed lease payments (including in-substance fixed payments), less any lease incentives receivable; variable lease payments that depend on an index or rate, initially measured using the index or rate at the commencement date; the amount expected to be payable by the lessee under residual value guarantees; the exercise price of purchase options if the lessee is reasonably certain to exercise the options; and payments of penalties for terminating the lease, if the lease term reflects the Group exercising an option to terminate the lease.The lease liability is presented as a separate line in the consolidated statement of financial position.The lease l iabi l i ty is subsequently measured by increasing the carrying amount to reflect interest on the lease liability (using the effective interest method) and by reducing the carrying amount to reflect the lease payments made.93ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）租賃（續）本集團作為承租人（續）租賃負債（續）當發生以下情況，本集團會重新計量租賃負債（及對相關的使用權資產作出相應調整）：租期變動或發生重大事件或狀況變動導致行使購買權之評估有所變動，在此情況下，租賃負債透過使用經修訂貼現率貼現經修訂租賃付款而重新計量。

租賃付款變動乃由於指數或利率變動或保證剩餘價值下預期付款變動，在此情況下，租賃負債透過使用初始貼現率貼現經修訂租賃付款而重新計量。

租賃合約已修改且租賃修改不作為一項單獨租賃入賬，在該情況下，租賃負債透過使用於修訂生效日期的經修訂貼現率對經修訂租賃付款進行貼現並基於經修訂租賃的租期而重新計量。

使用權資產使用權資產包括相應租賃負債、於開始日期或之前作出的租賃付款及任何初期直接成本，減已收取租賃優惠的初步計量。

當本集團產生拆除及移除租賃資產、恢復相關資產或將相關資產恢復至租賃條款及條件所規定狀態的成本責任時，將根據香港會計準則第37號「撥備、或然負債及或然資產」確認及計量撥備。

成本計入相關使用權資產中。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Leasing (Continued)The Group as a lessee (Continued)Lease liabilities (Continued)Lease liability is remeasured (and with a corresponding adjustment to the related right-of-use asset) whenever: the lease term has changed or there is a significant event or change in circumstances resulting in a change in the assessment of exercise of a purchase option, in which case the lease liability is remeasured by discounting the revised lease payments using revised discount rate. the lease payments change due to changes in an index or rate or a change in expected payment under a guaranteed residual value, in which cases the lease liability is remeasured by discounting the revised lease payments using the initial discount rate. A lease contract is modified and the lease modification is not accounted for as a separate lease, in which case the lease l iabi l i ty is remeasured based on the lease term of the modified lease by discounting the revised lease payments using a revised discount rate at the effective date of the modification.Right-of-use assetsThe r i gh t -o f -use asse t s compr i se t he i n i t i a l measurement of the corresponding lease liability, lease payments made at or before the commencement date and any initial direct costs, less lease incentives received. Whenever the Group incurs an obligation for costs to dismantle and remove a leased asset, restore the site on which it is located or restore the underlying asset to the condition required by the terms and conditions of the lease, a provision is recognised and measured under HKAS 37 “Provision, Contingent Liabilities and Contingent Assets ”. The costs are included in the related right-of-use assetChina United Venture Investment Limited新華聯合投資有限公司94Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）租賃（續）本集團作為承租人（續）使用權資產（續）使用權資產其後按成本減任何累計折舊及減值虧損計量，並就租賃負債的任何重新計量作出調整。

其於相關資產的租期與可使用年期兩者中的較短者折舊。

折舊於租賃開展日期開始。

本集團將使用權資產作為單獨項目於綜合財務狀況表內呈列。

本集團應用香港會計準則第36號釐定使用權資產是否已減值，並就任何已識別減值虧損入賬。

於計量租賃負債及使用權資產時不會計入並非取決於指數或利率的可變租金。

相關付款在觸發該等付款的事件或條件發生的期間內確認為開支，並計入綜合損益及其他全面收益表的「使用權資產折舊」內。

當本集團於行使購買權時在租期結束時取得相關租賃資產所有權，相關使用權資產之賬面值轉撥至物業、廠房及設備。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Leasing (Continued)The Group as a lessee (Continued)Right-of-use assets (Continued)Right-of-use assets are subsequently measured at cost less accumulated depreciation and impairment losses, and adjusted for any remeasurement of lease liabilities. They are depreciated over the shorter period of lease term and useful life of the underlying asset. The depreciation starts at the commencement date of the lease.The Group presents right-of-use assets as a separate line item on the consolidated statement of financial position.The Group applies HKAS 36 to determine whether a right-of-use asset is impaired and accounts for any identified impairment loss.Variable rents that do not depend on an index or rate are not included in the measurement of the lease liability and the right-of-use asset. The related payments are recognised as an expense in the period in which the event or condition that triggers those payments occurs and are included in “Depreciation of right-of-use assets” in the consolidated statement of profit or loss and other comprehensive income.When the Group obtains ownership of the underlying leased assets at the end of the lease term upon exercising purchase options, the carrying amount of the relevant right-of-use asset is transferred to property, plant and equipment.95ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）租賃（續）本集團作為出租人本集團作為出租人就其樓宇訂立租賃協議。

本集團作為出租人的租賃分類為融資租賃或經營租賃。

如租賃條款將擁有權之大部分風險及回報轉移給承租人，則該合約被歸類為融資租賃。

所有其他租賃均歸類為經營租賃。

當合約同時包含租賃和非租賃部分時，本集團應用香港財務報告準則第15號客戶合約收入（「香港財務報告準則第15號」）將合約代價分配至各個部分。

經營租賃的租金收入在相關租賃期限內以直線法確認。

談判和安排經營租賃所發生的初始直接成本計入租賃資產的賬面價值，並在租賃期內按直線法確認。

承租人按租賃而應付的金額按本集團在租賃中的投資淨額確認為應收款項。

融資租賃收入於會計期間分配，以反映本集團在該等租賃相關的淨出資餘額之固定定期回報率。

租賃修訂就經營租賃而言本集團將經營租賃修訂入賬列作自修訂生效日期起生效之新租賃，並將與原租賃相關之任何預付或應計租賃款項視為新租賃之租賃款項一部分。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Leasing (Continued)The Group as lessorThe Group enters into lease agreements as a lessor with respect to building. Leases for which the Group is a lessor are classified as finance or operating leases. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases.When a contract includes both lease and non-lease components, the Group applies HKFRS 15 Revenue from Contracts with Customers (“HKFRS 15”) to allocate the consideration under the contract to each component.Rental income from operating leases is recognised on a straight-line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight-line basis over the lease term.Amounts due from lessees under finance leases are recognised as receivables at the amount of the Group’s net investment in the leases. Finance lease income is allocated to accounting periods so as to reflect a constant periodic rate of return on the Group’s net investment outstanding in respect of the leases.Lease modificationFor operating leaseThe Group accounts for a modification to an operating lease as a new lease from the effective date of the modification, considering any prepaid or accrued lease payments relating to the original lease as part of the lease payments for the new lease.China United Venture Investment Limited新華聯合投資有限公司96Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）外幣於編製各個別集團實體之財務報表時，以該實體功能貨幣以外之貨幣（外幣）進行之交易均按交易日之適用匯率以各自功能貨幣（即實體經營所在主要經濟環境之貨幣）記錄。

於報告期末，以外幣為單位之貨幣項目均按該日之適用匯率重新換算。

以外幣按公平值記賬之非貨幣項目以公平值釐定當日之匯率重新換算。

按外幣歷史成本計量之非貨幣項目不予重新換算。

貨幣項目結算及貨幣項目兌換所產生之匯兌差額乃於產生期間內於損益確認。

重新換算按公平值計值的非貨幣項目所產生之匯兌差額於期內計入損益。

就呈列綜合財務報表而言，本集團海外業務資產及負債乃按各報告期末之適用匯率換算為本集團之呈列貨幣（即港元），而收入及開支乃年期內平均匯率換算，除非期內匯率大幅波動，在有關情況下，則使用於交易日期之當前匯率。

所產生之匯兌差額（如有）乃於其他全面收益中確認並於股本之匯兌儲備下累計（適用時歸屬於非控股權益）。

此外，就部分出售一間附屬公司而言，若出售並未導致本集團失去附屬公司控制權，則按比例分佔的累計匯兌差額重新分配至非控股權益，不在損益確認。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Foreign currenciesIn preparing the financial statements of each individual group entity, transactions in currencies other than the functional currency of that entity (foreign currencies) are recorded in the respective functional currency (i.e. the currency of the primary economic environment in which the entity operates) at the rates of exchanges prevailing on the dates of the transactions. At the end of the reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when fair value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.Exchange differences arising on the settlement of monetary items, and on the retranslation of monetary items, are recognised in profit or loss in the period in which they arise.Exchange differences arising on the retranslation of non-monetary items carried at fair value are included in profit or loss for the period.For the purposes of presenting the consolidated financial statements, the assets and liabilities of the Group’s foreign operations are translated into the presentation currency of the Group (i.e. Hong Kong dollars) using exchange rates prevailing at the end of each reporting period. Income and expenses are translated at the average exchange rates for the year, unless exchange rates fluctuate significantly during the period, in which case, the exchange rates prevailing at the dates of transactions are used. Exchange differences arising, if any, are recognised in other comprehensive income and accumulated in equity under the heading of translation reserve (attributed to non-controlling interests as appropriate).In addition, in relation to a partial disposal of a subsidiary that does not result in the Group losing control over the subsidiary, the proportionate share of accumulated exchange differences are reattributed to non-controlling interests and are not recognised in profit or loss.97ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）借款成本直接歸屬於收購、興建或生產合資格資產（需經過相當長時間方能達致其擬定用途或銷售者）的借款成本計入該等資產的成本內，直至資產大致達致其擬定用途或可供銷售為止。

在特定借款撥作合資格資產開支前的暫時投資所賺取的投資收入，乃從合資格予以資本化的借款成本中扣除。

所有其他借款成本於產生期間於損益中確認。

政府補助除非有合理保證本集團將遵守政府補助所附條件，否則政府補助將不會被確認。

政府補助在本集團將補助擬補償的相關成本確認為費用的期間內，有系統地在損益中確認。

具體而言，主要條件為本集團應購買、建造或以其他方式收購非流動資產之政府補助於綜合財務狀況表確認為遞延收入，並按系統及合理基準於相關資產之可用年限轉撥至損益。

與收入有關的政府補助，乃作為補償已產生開支或虧損而應收或旨在為本集團提供即時財務支援（而無未來相關成本），於應收期間在損益內確認。

有關補助於「其他收入及收益淨額」呈列。

按低於市場利率計息的政府貸款的利益被視為政府補助，按已收所得款項與按當前市場利率計算的貸款公平值之間的差額計量。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Borrowing costsBorrowing costs directly attributable to the acquisition, construction or production of qualifying assets, which are assets that necessarily take a substantial period of time to get ready for their intended use or sale, are added to the cost of those assets until such time as the assets are substantially ready for their intended use or sale.Inves tment i ncome ear ned on the tempora ry investment of specif ic borrowings pending their expenditure on qualifying assets is deducted from the borrowing costs eligible for capitalisation.All other borrowing costs are recognised in profit or loss in the period in which they are incurred.Government grantsGovernment grants are not recognised until there is reasonable assurance that the Group will comply with the conditions attaching to them and that the grants will be received.Government grants are recognised in profit or loss on a systematic basis over the periods in which the Group recognises as expenses the related costs for which the grants are intended to compensate. Specifically, government grants whose primary condition is that the Group should purchase, construct or otherwise acquire non-current assets are recognised as deferred income in the consolidated statement of financial position and transferred to profit or loss on a systematic and rational basis over the useful lives of the related assets.Government grants re lated to income that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Group with no future related costs are recognised in profit or loss in the period in which they become receivable. Such grants are presented under “other income and gains, net”.The benefit of a government loan at a below-market rate of interest is treated as a government grant, measured as the difference between proceeds received and the fair value of the loan based on prevailing market interest rates.China United Venture Investment Limited新華聯合投資有限公司98Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）退休福利成本及離職福利國營退休福利計劃及強制性公積金計劃之供款，於僱員之服務期限令其足夠享有該等供款時確認為開支。

離職福利負債於以下時間（取其較早者）確認：當實體無法取消提供離職福利及當實體確認任何相關重組成本。

短期及其他長期僱員福利僱員有關工資及薪金、年假及病假之應計福利乃於提供有關服務期間，按預期將就換取該服務而支付之未貼現福利金額確認負債。

就短期僱員福利確認之負債，按預期為換取相關服務而支付的福利之未貼現金額計量。

就其他長期職工福利確認之負債，按照截至報告日本集團就僱員提供之服務預計將產生的預計未來現金流出之現值計量。

稅項所得稅開支指當期應繳稅項及遞延稅項兩者之總和。

當期應繳稅項乃根據年度應課稅溢利計算。

由於扣除其他年度應課稅或可扣稅之收入及開支項目以及進一步扣除毋須課稅或不可扣稅之項目，應課稅溢利與綜合損益及其他全面收益表所報告除稅前溢利不同。

本集團之當期稅項負債乃按報告期末規定或實質上規定之稅率計算。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Retirement benefits costs and termination benefitsPayments to state-managed ret i rement benef i t scheme and the Mandatory Provident Fund Scheme are recognised as an expense when employees have rendered service entitling them to the contributions.A liability for a termination benefit is recognised at the earlier of when the entity can no longer withdraw the offer of the termination benefit and when the entity recognises any related restructuring costs.Short-term and other long-term employee benefitsA liabil ity is recognised for benefits accruing to employees in respect of wages and salaries, annual leave and sick leave in the period the related service is rendered at the undiscounted amount of the benefits expected to be paid in exchange for that service.Liabilities recognised in respect of short-term employee benefits are measured at the undiscounted amount of the benefits expected to be paid in exchange for the related service.Liabilities recognised in respect of other long-term employee benefits are measured at the present value of the estimated future cash outflows expected to be made by the Group in respect of services provided by employees up to the reporting date.TaxationIncome tax expense represents the sum of the tax currently payable and deferred tax.The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the consolidated statement of profit or loss and other comprehensive income because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The Group’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.99ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）稅項（續）遞延稅項就綜合財務報表中資產及負債之賬面值與計算應課稅溢利時所採用之相應稅基之暫時差額確認。

遞延稅項負債通常就所有應課稅之暫時差額確認。

遞延稅項資產通常就可能會獲得可用作抵銷可扣稅暫時差額之應課稅溢利就所有可扣稅暫時差額確認。

倘該暫時差額源自商譽或初步確認（業務合併除外）不影響應課稅溢利或會計溢利之交易中資產及負債，則該等遞延稅項資產及負債不予確認。

遞延稅項負債就與於附屬公司之投資及於一間合資企業的權益相關之應課稅暫時差額予以確認，惟本集團可控制暫時差額之撥回及暫時差額可能於可見將來不會撥回除外。

與該等投資及權益相關之可扣稅暫時差額所產生之遞延稅項資產，僅於可能有足夠應課稅溢利可以使用暫時差額之利益且預計於可見將來可以撥回時予以確認。

遞延稅項資產賬面值於各報告期末作出檢討，並於不再可能有足夠應課稅溢利以供收回全部或部分資產時作調減。

遞延稅項資產及負債乃根據報告期末已頒佈或實質頒佈之稅率（及稅法）按清償負債或變現資產期間預期適用之稅率計算。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Taxation (Continued)Deferred tax is recognised on temporary differences between the carrying amounts of assets and liabilities in the consolidated financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. Such deferred tax assets and liabilities are not recognised if the temporary difference arises from goodwill or from the initial recognition (other than in a business combination) of assets and liabilities in a transaction that affects neither the taxable profit nor the accounting profit.Deferred tax liabilities are recognised for taxable temporary differences associated with investments in subsidiaries and interest in a joint venture, except where the Group is able to control the reversal of the temporary difference and it is probable that the temporary difference wil l not reverse in the foreseeable future. Deferred tax assets arising from deductible temporary differences associated with such investments and interests are only recognised to the extent that it is probable that there will be sufficient taxable profits against which to utilise the benefits of the temporary differences and they are expected to reverse in the foreseeable future.The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset is realised, based on tax rate (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.China United Venture Investment Limited新華聯合投資有限公司100Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）稅項（續）遞延稅項負債及資產之計量反映按照本集團預期之方式於報告期末收回或結清其資產及負債之賬面值之稅務結果。

就計量利用公平值模式計量的投資物業之遞延稅項而言，該等物業之賬面值乃假設透過銷售全數收回，除非該假設被推翻則除外。

當投資物業可予折舊及於業務模式（其業務目標是隨時間而非透過銷售消耗投資物業所包含的絕大部分經濟利益）內持有時，有關假設會被推翻。

倘有合法可執行權利可將即期稅項資產與即期稅項負債抵銷，且該等資產及負債與同一稅務機關徵收之所得稅有關且本集團擬按淨額基準結算其即期稅項資產及負債時，則遞延稅項資產及負債可互相對銷。

在計量本集團於其中確認使用權資產及相關租賃負債的租賃交易的遞延稅項時，本集團首先會確定稅項扣減歸屬於使用權資產還是租賃負債。

對於稅項扣減歸屬於租賃負債的租賃交易，本集團對使用權資產及租賃負債分別適用香港會計準則第12號所得稅規定。

由於適用初始確認豁免，有關使用權資產及租賃負債的初始確認的暫時性差額不會確認。

因重新計量租賃負債及租賃修改而對使用權資產及租賃負債的賬面值進行後續修訂所產生的暫時性差額，若不受初始確認豁免限制，則在重新計量或修改日期確認。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Taxation (Continued)The measurement of deferred tax liabilities and assets reflects the tax consequences that would follow from the manner in which the Group expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.For the purposes of measuring deferred tax for investment properties that are measured using the fair value model, the carrying amounts of such properties are presumed to be recovered entirely through sale, unless the presumption is rebutted. The presumption is rebutted when the investment property is depreciable and is held within a business model whose objective is to consume substantially all of the economic benefits embodied in the investment property over time, rather than through sale.Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities and when they are relate to income taxes levied by the same taxation authority and the Group intends to settle its current tax assets and liabilities on a net basis.For the purposes of measuring deferred tax for leasing transactions in which the Group recognises the right-of-use assets and the related lease liabilities, the Group first determines whether the tax deductions are attributable to the right-of-use assets or the lease liabilities.For leasing transactions in which the tax deductions are attributable to the lease liabilities, the Group applies HKAS 12 Income Taxes requirements to right-of-use assets and lease liabilities separately. Temporary differences relating to right-of-use assets and lease liabilities are not recognised at initial recognition due to application of the initial recognition exemption. Temporary differences arising from subsequent revision to the carrying amounts of right-of-use assets and lease liabilities, resulting from remeasurement of lease liabilities and lease modifications, that are not subject to initial recognition exemption are recognised on the date of remeasurement or modification.101ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）稅項（續）當期及遞延稅項於損益內確認，惟與於其他全面收益或直接於權益確認之項目相關者除外，於該情況下，當期及遞延稅項亦分別於其他全面收益或直接於權益中確認。

倘即期或遞延稅項來自業務合併之初步確認，則稅務影響計入業務合併之列賬。

物業、廠房及設備以及折舊物業、廠房及設備（在建工程除外）以按成本減累計折舊及任何減值虧損列賬。

物業、廠房及設備項目成本包括購買價及使資產達至營運狀況及地點以作擬定用途產生之任何直接應佔成本。

物業、廠房及設備項目投入運作後產生之開支，如維修及保養費，一般於產生期間在損益中扣除。

倘符合確認標準，主要檢查開支於資產賬面值中資本化為重置成本。

如須不時更換物業、廠房及設備的重要部分，則本集團將該等部分確認為具有特定使用年期的個別資產，並按各自使用年期折舊。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Taxation (Continued)Current and deferred tax are recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax are also recognised in other comprehensive income or directly in equity respectively. Where current tax or deferred tax arises from the initial accounting for a business combination, the tax effect is included in the accounting for the business combination.Property, plant and equipment and depreciationProperty, plant and equipment, other than construction in progress, are stated at cost less accumulated depreciation and any impairment losses. The cost of an item of property, plant and equipment comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use.Expenditure incurred after items of property, plant and equipment have been put into operation, such as repairs and maintenance, is normally charged to profit or loss in the period in which it is incurred. In situations where the recognition criteria are satisfied, the expenditure for a major inspection is capitalised in the carrying amount of the asset as a replacement. Where s igni f icant parts of property, p lant and equipment are required to be replaced at intervals, the Group recognises such parts as individual assets with specific useful lives and depreciates them accordingly.China United Venture Investment Limited新華聯合投資有限公司102Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）物業、廠房及設備以及折舊（續）折舊以直線法按每項物業、廠房及設備項目之估計可使用年期撇銷成本至剩餘價值計算。

主要估計可使用年期及年度折舊率如下：年度折舊率樓宇2%–3%或按有關租約餘下年期（以較短者為準）傢俬及裝置20%–33%辦公室設備20%–33%電腦設備20%–33%機器14%–20%汽車20%–30%倘物業、廠房及設備項目各部分可使用年期不同，則該項目的成本按合理基準於各部分之間分配，而各部分分開折舊。

本集團至少於各財政年度結算日檢討並在適當的情況下調整剩餘價值、可使用年期及折舊方法。

物業、廠房及設備項目（包括任何初步確認之重大部分）於出售時或當預期使用或出售不再產生日後經濟利益時終止確認。

在資產終止確認年度於損益表中確認之出售或報廢的任何收益或虧損為出售所得款項淨額與有關資產賬面值之間的差額。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Property, plant and equipment and depreciation (Continued)Depreciation is calculated on the straight-line basis to write off the cost of each item of property, plant and equipment to its residual value over its estimated useful life. The principal estimated useful lives and the annual depreciation rates are as follows:Annual depreciation ratesBuildings 2%–3% or over the remaining term of the relevant lease, if shorterFurniture and fixtures20%–33%Office equipment 20%–33%Company equipment20%–33%Machinery 14%–20%Motor vehicles 20%–30%Where parts of an i tem of property, plant and equipment have different useful lives, the cost of that item is allocated on a reasonable basis among the parts and each part is depreciated separately. Residual values, useful lives and the depreciation method are reviewed, and adjusted if appropriate, at least at each financial year end.An item of property, plant and equipment including any significant part initially recognised is derecognised upon disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss on disposal or retirement recognised in the statement of profit or loss in the year the asset is derecognised is the difference between the net sales proceeds and the carrying amount of the relevant asset.103ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）投資物業投資物業指持有以賺取租金收入及╱或作資本增值用途之土地及樓宇權益（包括在其他方面符合投資物業定義之持作使用權資產之租賃物業），而並非持有作生產或供應貨品或服務或行政用途；或於日常業務過程中銷售之土地及樓宇之權益。

有關物業首次按成本（包括交易成本）計量。

於首次確認後，投資物業按反映報告期末市況之公平值列賬。

投資物業公平值變動所產生之收益或虧損於產生之年度計入損益表內。

投資物業報廢或出售所產生之任何收益或虧損於報廢或出售年度之損益表中確認。

當投資物業轉移至業主自用物業，用於後續會計處理之物業視作成本為其用途變動日期之公平值。

若本集團擁有的業主佔用物業轉變為投資物業，本集團將於直至用途變更當日根據用於自有物業的「物業、廠房及設備以及折舊」項下所述政策及╱或用於作為使用權資產所持有的物業的「使用權資產」項下所述政策將該項物業入賬，且該項物業在該日的賬面值及公平值之間的任何差額根據上文「物業、廠房及設備以及折舊」所述政策作為重估入賬。

就存貨轉至投資物業而言，該物業在當日的公及值與其先前賬面值之間的任何差額於損益內確認。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Investment propertiesInvestment propert ies are interests in land and buildings (including the leasehold property held as a right-of-use asset which would otherwise meet the definition of an investment property) held to earn rental income and/or for capital appreciation, rather than for use in the production or supply of goods or services or for administrative purposes; or for sale in the ordinary course of business. Such properties are measured initially at cost, including transaction costs. Subsequent to initial recognition, investment properties are stated at fa i r value, which ref lects market conditions at the end of the reporting period.Gains or losses arising from changes in the fair values of investment properties are included in the statement of profit or loss in the year in which they arise.Any gains or losses on the retirement or disposal of an investment property are recognised in the statement of profit or loss in the year of the retirement or disposal.For a transfer from investment properties to owner-occupied properties or inventories, the deemed cost of a property for subsequent accounting is its fair value at the date of change in use. If a property occupied by the Group as an owner-occupied property becomes an investment property, the Group accounts for such property in accordance with the policy stated under “Property, plant and equipment and depreciation” for owned property and/or accounts for such property in accordance with the policy stated under “Right-of-use assets” for property held as a right-of-use asset up to the date of change in use, and any difference at that date between the carrying amount and the fair value of the property is accounted for as a revaluation in accordance with the policy stated under “Property, plant and equipment and depreciation” above. For a transfer from inventories to investment properties, any difference between the fair value of the property at that date and its previous carrying amount is recognised in profit or loss.China United Venture Investment Limited新華聯合投資有限公司104Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）投資物業（續）轉至或轉自投資物業應於且僅於存在經以下證明的用途變更時進行：(a)對於投資物業轉至業主佔用物業，為業主佔用開始時；(b)對於投資物業轉至存貨，為就出售開始進行開發之時；(c)對於業主佔用物業轉至投資物業，為業主佔用結束時；或(d)對於存貨轉至投資物業，為與另外一方之經營租約開始時。

無形資產（商譽除外）單獨收購之無形資產於首次確認時按成本計量。

於業務合併中收購之無形資產成本指於收購日期之公平值。

無形資產之可使用年期被評估為有限或無限。

具有限年期之無形資產其後於可使用經濟年期內攤銷，且於有跡象表明該無形資產可能出現減值時進行減值評估。

具有限可使用年期之無形資產之攤銷期及攤銷方法最少於各財政年度結束時檢討。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Investment properties (Continued)Transfers to or from investment property shall be made when and only when there is a change in use evidenced by:(a) commencement of owner-occupation, for a transfer from investment property to owner-occupied property;(b) commencement of development with a view to sale, for a transfer from investment property to inventories;(c) end of owner-occupation, for a transfer from owner-occup ied p roper ty to i nves tment property; or(d) commencement of an operat ing lease to another party, for a transfer from inventories to investment property.Intangible assets (other than goodwill)Intangible assets acquired separately are measured on initial recognition at cost. The cost of intangible assets acquired in a business combination is the fair value at the date of acquisition. The useful lives of intangible assets are assessed to be either finite or indefinite. Intangible assets with finite lives are subsequently amortised over the useful economic life and assessed for impairment whenever there is an indication that the intangible asset may be impaired. The amortisation period and the amortisation method for an intangible asset with a finite useful life are reviewed at least at each financial year end.105ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）無形資產（商譽除外）（續）具無限可使用年期之無形資產每年個別地或按現金產生單位級別進行減值測試。

該等無形資產不予攤銷。

具無限年期之無形資產之可使用年期每年進行檢討，以釐定無限年期之評估是否繼續有理據支持。

如否，則將可使用年期之評估由無限至有限之變動按前瞻性基準入賬。

客戶關係按成本減任何減值虧損呈列，並按直線法於其估計可使用年限1.5年內攤銷。

無形資產終止確認所產生的收益或虧損按資產出售所得款項淨額與賬面金額兩者之間的差額計量，其於資產終止確認的期間在損益表中確認。

非金融資產的減值倘有跡象顯示出現減值，或需要就資產（存貨、合約資產、遞延稅項資產、金融資產、投資物業及分類為持作出售之非流動資產╱一間出售集團除外）進行年度減值測試，則會估計資產之可收回數額。

資產之可收回數額乃資產或現金產生單位之使用價值及其公平值（以較高者為準）減出售成本，並就個別資產而釐定，除非有關資產並無產生很大程度上獨立於其他資產或資產組別所產生之現金流入，在此情況下，可收回數額則就資產所屬之現金產生單位而釐定。

對現金產生單位進行減值測試時，企業資產（如總部樓宇）賬面值的一部分如果能夠按合理和一貫的基準分配至現金產生單位組別（甚或其最小組別），則分配至個別現金產生單位。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Intangible assets (other than goodwill) (Continued)Intangible assets with indefinite useful lives are tested for impairment annually either individually or at the cash-generating unit level. Such intangible assets are not amortised. The useful life of an intangible asset with an indefinite life is reviewed annually to determine whether the indefinite life assessment continues to be supportable. If not, the change in the useful life assessment from indefinite to finite is accounted for on a prospective basis.Customer relationship is stated at cost less any impairment loss and is amortised on the straight-line basis over its estimated useful lives of 1.5 years.Gains or losses arising from derecognition of an intangible asset are measured at the difference between the net disposal proceeds and the carrying amount of the asset and are recognised in the statement of profit or loss in the period when the asset is derecognised.Impairment of non-financial assetsWhere an indication of impairment exists, or when annual impairment testing for an asset is required (other than inventories, contract assets, deferred tax assets, financial assets, investment properties and non-current assets/a disposal group classified as held for sale), the asset’s recoverable amount is estimated. An asset’s recoverable amount is the higher of the asset’s or cash-generating unit’s value in use and its fair value less costs of disposal, and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets, in which case the recoverable amount is determined for the cash-generating unit to which the asset belongs. In testing a cash-generating unit for impairment, a portion of the carrying amount of a corporate asset (e.g., a headquarters building) is allocated to an individual cash-generating unit if it can be allocated on a reasonable and consistent basis or, otherwise, to the smallest group of cash-generating units.China United Venture Investment Limited新華聯合投資有限公司106Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）非金融資產的減值（續）倘資產之賬面值超逾其可收回數額，減值虧損方予確認。

於評估使用價值時，估計日後現金流量乃按可反映現時市場評估貨幣之時間價值及資產特定風險之除稅前貼現率貼現至其現值。

減值虧損乃產生期間於損益表中在與減值資產功能一致的開支類別扣除。

於各報告期末，會就有否跡象顯示先前已確認之減值虧損可能不再存在或可能減少而作出評估。

倘出現該跡象，則估計可收回數額。

就資產（商譽除外）先前已確認之減值虧損僅於釐定該資產之可收回數額所使用之估計出現變動時方予撥回，惟在假設於過往年度並無就該資產確認減值虧損，高出於此情況下所釐定之賬面值之數額（扣除任何折舊╱攤銷）則不予撥回。

減值虧損之撥回乃於產生期間計入損益表，除非資產按重估金額列賬，在有關情況下減值虧損撥回就該重估資產根據相關會計政策列賬。

關聯方任何一方如屬以下情況，即視為本集團之關聯方：(a)該方為以下人士或為該人士之近親且該人士(i)擁有本集團之控制權或共同控制權；(ii)對本集團具有重大影響力；或(iii)為本集團或本集團母公司之主要管理人員其中一名成員；3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Impairment of non-financial assets (Continued)An impairment loss is recognised only if the carrying amount of an asset exceeds its recoverable amount. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset. An impairment loss is charged to the statement of profit or loss in the period in which it arises in those expense categories consistent with the function of the impaired asset.An assessment is made at the end of each reporting period as to whether there is an indication that previously recognised impairment losses may no longer exist or may have decreased. If such an indication exists, the recoverable amount is estimated. A previously recognised impairment loss of an asset other than goodwill is reversed only if there has been a change in the estimates used to determine the recoverable amount of that asset, but not to an amount higher than the carrying amount that would have been determined (net of any depreciation/amortisation) had no impairment loss been recognised for the asset in prior years. A reversal of such an impairment loss is credited to the statement of profit or loss in the period in which it arises, unless the asset is carried at a revalued amount, in which case the reversal of the impairment loss is accounted for in accordance with the relevant accounting policy for that revalued asset.Related partiesA party is considered to be related to the Group if:(a) the party is a person or a close member of that person’s family and that person:(i) has control or joint control over the Group;(ii) has significant influence over the Group; or(iii) is a member of the key management personnel of the Group or of a parent of the Group;107ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）關聯方（續）或(b)該方為一實體，且以下任何一種情況適用：(i)實體及本集團為同一集團之成員公司；(ii)一間實體為另一間實體（或另一間實體之母公司、附屬公司或同系附屬公司）之聯營公司或合營公司；(iii)實體及本集團為同一第三方之合營公司；(iv)一間實體為第三方實體之合營公司，而另一間實體為該第三方實體之聯營公司；(v)實體為終止僱用後福利計劃，乃為本集團或與本集團有關連之實體之僱員福利而設，（如本集團自身為有關計劃）及離職後福利計畫之贊助僱主；(vi)實體受(a)所識別之人士控制或共同控制；(vii) (a) ( i )所識別之人士對實體具有重大影響力或為實體（或實體之母公司）之主要管理人員其中一名成員；及(viii)該實體或其所屬集團之任何成員向本集團或本集團之母公司提供主要管理人員服務。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Related parties (Continued)or(b) the party is an entity where any of the following conditions applies:(i) the entity and the Group are members of the same group;(ii) one entity is an associate or joint venture of the other ent ity (or of a parent, subsidiary or fellow subsidiary of the other entity);(iii) the ent i ty and the Group are jo int ventures of the same third party;(iv) one entity is a joint venture of a third entity and the other entity is an associate of the third entity;(v) the entity is a post-employment benefit plan for the benefit of employees of either the Group or an entity related to the Group; (If the Group is itself such a plan) and the sponsoring employers of the post-employment benefit plan;(vi) the entity is controlled or jointly controlled by a person identified in (a);(vii) a person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity); and(viii) the entity, or any member of a group of which i t is a part, provides key management personnel services to the Group or to the parent of the Group.China United Venture Investment Limited新華聯合投資有限公司108Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）存貨存貨按成本及可變現淨值之較低者入賬。

存貨成本乃按先入先出法計算。

存貨可變現淨值指於日常業務過程中的估計售價減估計完工成本及銷售所需成本。

現金及等同現金項目在綜合財務狀況表中，現金及等同現金項目包括銀行結餘及現金（即手頭現金及活期存款）。

現金等價物為短期（通常最初到期日為三個月或以下）、可隨時轉換為已知現金金額且價值變動風險不大的高流動性的投資。

持有現金等價物的目的為履行短期現金承諾而非投資或其他目的。

就綜合現金流量表而言，現金及等同現金項目包括上述界定之現金及等同現金項目，扣除按要求償還的未償還的銀行透支並構成本集團現金管理的組成部分。

相關透支於綜合財務狀況表內呈列為短期借款。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)InventoriesInventories are stated at the lower of cost and net realisable value. Cost of inventories are calculated using the first-in, first-out method. Net realisable value of inventories represents the estimated selling price in the ordinary course of business less the estimated costs of completion and costs necessary to make the sale.Cash and cash equivalentsIn the consolidated statement of financial position, cash and cash equivalents comprise bank balances and cash (i.e. cash on hand and demand deposits). Cash equivalents are short-term (general ly with original maturity of three months or less), highly liquid investments that are readily convertible to a known amount of cash and which are subject to an insignificant risk of changes in value. Cash equivalents are held for the purpose of meeting short-term cash commitments rather for investment or other purposes.For the purpose of the consolidated statement of cash flows, cash and cash equivalents consist of cash and cash equivalents, as defined above, net of outstanding bank overdrafts which are repayable on demand and form an integral part of the Group’s cash management. Such overdrafts are presented as short-term borrowings in the consolidated statement of financial position.109ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具金融資產及金融負債乃當集團實體成為文據合約條文之訂約方時於綜合財務狀況表確認。

金融資產及金融負債初步按公平值計量，惟來自客戶合約之貿易應收賬款則根據香港財務報告準則第15號進行初步計量。

收購或發行金融資產及金融負債（按公平值計入損益的金融資產或金融負債除外）直接應佔之交易成本於初步確認時加入或扣自金融資產或金融負債（按適用者）之公平值。

收購按公平值計入損益之金融資產或金融負債而直接應佔之交易成本，即時在損益中確認。

實際利率是在金融資產或金融負債的預期壽命或（如適當）更短期間內能夠精確折現估計未來現金收入額及付款（包括構成實際利率不可或缺部分的已付或已收取的所有費用、交易成本以及其他溢價或折讓）至初步確認時的賬面淨值的利率。

金融資產金融資產之一切常規買賣概於交易日期確認及終止確認。

常規買賣指須根據市場規則或慣例確立之時限內交付資產之金融資產買賣。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instrumentsFinancial assets and financial liabilities are recognised in the consolidated statement of financial position when a group ent i ty becomes a par ty to the contractual provisions of the instrument.Financial assets and financial liabilities are initially measured at fair value, except for trade receivables arising from contracts with customers which are initially measured in accordance with HKFRS 15. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets or financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss.The effective interest rate is the rate that exactly d iscounts est imated future cash rece ipts and payments ( inc lud ing a l l fees pa id or rece ived that form an integral part of the effective interest rate, transact ion costs and other premiums or discounts) through the expected life of the financial asset or financial liability, or, where appropriate, a shorter period, to the net carrying amount on initial recognition.Financial assetsAll regular way purchases or sales of financial assets are recognised and derecognised on a trade date basis. Regular way purchases or sales are purchases or sales of financial assets that require delivery of assets within the time frame established by regulation or convention in the marketplace.China United Venture Investment Limited新華聯合投資有限公司110Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）所有確認的金融資產其後均按攤銷成本或公平值進行整體計量，取決於金融資產的分類。

金融資產在初始確認時進行分類，隨後以攤銷成本、透過其他全面收益按公平值列賬（「透過其他全面收益按公平值列賬」）以及透過損益按公平值列賬進行計量。

初始確認時，金融資產的分類取決於金融資產的合約現金流量特徵以及本集團對其進行管理的業務模式。

按攤銷成本計量之金融資產（債務工具）符合以下條件之金融資產其後由本集團按攤銷成本計量：以收取合約現金流量為目的的業務模式下持有的金融資產；及合約條款於指定日期產生的現金流量僅為支付本金及未償還本金的利息。

按攤銷成本計量之金融資產其後使用實際利率法計量，且或會受減值影響。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)All recognised financial assets are subsequently measured in their entirety at either amortised cost or fair value, depending on the classification of the financial assets. Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (“FVTOCI”) and FVTPL.The c lass i f icat ion of f inanc ia l assets at in i t ia l recogn i t ion depends on the f i nanc ia l asse t ’s contractual cash flow characteristics and the Group’s business model for managing them.Financial assets at amortised cost (debt instruments)The Group measures financial assets subsequently at amortised cost if both of the following conditions are met: the financial asset is held within a business model whose objective is to collect contractual cash flows; and the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.Financial assets at amortised cost are subsequently measured using the effective interest method and are subject to impairment.111ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）(i)攤銷成本及實際利率法實際利率法乃計算債務工具之攤銷成本及分配有關期間利息收入之方法。

就金融資產而言，實際利率乃按債務工具之預期年期或（倘適用）較短期間，準確貼現估計未來現金收入（包括構成實際利率、交易成本及其他溢價或折讓不可或缺部分之一切已付或已收費用及貼息）（不包括預期信貸虧損（「預期信貸虧損」））至債務工具於初始確認時之賬面總值之利率。

金融資產的攤銷成本指金融資產於初始確認時計量的金額減去本金還款，加上初始金額與到期金額間的任何差額使用實際利率法計算的累計攤銷（就任何虧損撥備作出調整）。

金融資產的賬面總值指金融資產就任何虧損撥備作出調整前的攤銷成本。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)(i) Amortised cost and effective interest methodThe effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating interest income over the relevant period.For financial assets, the effective interest rate is the rate that exactly discounts estimated future cash receipts (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) excluding expected credit losses (“ECL”), through the expected life of the debt instrument, or, where appropriate, a shorter period, to the gross carrying amount of the debt instrument on initial recognition.The amortised cost of a financial asset is the amount at which the financial asset is measured at in i t ia l recognit ion minus the principal repayments, plus the cumulative amortisation using the effective interest method of any difference between that initial amount and the maturity amount, adjusted for any loss allowance. The gross carrying amount of a financial asset is the amortised cost of a financial asset before adjusting for any loss allowance.China United Venture Investment Limited新華聯合投資有限公司112Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）(i)攤銷成本及實際利率法（續）就其後按攤銷成本計量的債務工具而言，利息收入採用實際利率法確認。

就購買或辦理的信貸減值金融資產以外的金融資產而言，利息收入透過對金融資產的賬面總值使用實際利率計算，惟其後已成為信貸減值的金融資產除外（見下文）。

就其後出現信貸減值的金融資產而言，利息收入乃透過對金融資產之攤銷成本應用實際利率確認。

於其後報告期，倘出現信貸減值的金融工具的信貸風險好轉，使金融資產不再出現信貸減值，則利息收入以對金融資產賬面總值應用實際利率方式確認。

利息收入於損益中確認，並計入「其他收入」（附註7）。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)(i) Amortised cost and effective interest method (Continued)In terest income is recognised us ing the effective interest method for debt instruments measured subsequently at amortised cost. For financial assets other than purchased or originated credit-impaired financial assets, interest income is calculated by applying the effective interest rate to the gross carrying amount of a financial asset, except for financial assets that have subsequently become credit-impaired (see below). For financial assets that have subsequently become credit-impaired, interest income is recognised by applying the effective interest rate to the amortised cost of the financial asset. If, in subsequent reporting periods, the credit risk on the credit-impaired f inancial instrument improves so that the financial asset is no longer credit-impaired, interest income is recognised by applying the effective interest rate to the gross carrying amount of the financial asset.Interest income is recognised in profit or loss and is included in the “Other income” line item (note 7).113ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）按公平值計入損益之金融資產不符合條件按攤銷成本計量或按公平值計入其他全面收益的金融資產乃按公平值計入損益計量，具體而言：權益工具投資分類為按公平值計入損益，除非本集團於初始確認時指定並非持作交易或業務合併所產生或然代價的權益投資按公平值計入其他全面收益。

不符合攤銷成本條件或按公平值計入其他全面收益條件的債務工具分類為按公平值計入損益。

此外，符合攤銷成本條件或按公平值計入其他全面收益條件的債務工具於初始確認時可被指定為按公平值計入損益，前提是此指定可消除或顯著減少因按不同基準計量資產或負債或確認其收益及虧損而產生的計量或確認不一致。

按公平值計入損益之金融資產按於各報告期末的公平值計量，而任何公平值收益或虧損均於損益中確認，以不屬指定對沖關係部分為限。

於損益中確認的收益或虧損淨額不包括就金融資產賺取的任何股息或利息，並計入「其他收益及虧損淨額」項目。

公平值按附註40所述方式釐定。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Financial assets at FVTPLFinancial assets that do not meet the criteria for being measured at amortised cost or FVTOCI are measured at FVTPL. Specifically: Investments in equity instruments are classified as at FVTPL, unless the Group designates an equity investment that is neither held for trading nor a contingent consideration arising from a business combination as at FVTOCI on initial recognition. Debt ins t ruments that do not meet the amortised cost criteria or the FVTOCI criteria are classified as at FVTPL. In addition, debt instruments that meet either the amortised cost criteria or the FVTOCI criteria may be designated as at FVTPL upon initial recognition if such designation eliminates or significantly reduces a measu rement o r recogn i t i on inconsistency that would arise from measuring assets or liabilities or recognising the gains and losses on them on different bases.Financial assets at FVTPL are measured at fair value at the end of each reporting period, with any fair value gains or losses recognised in profit or loss to the extent they are not part of a designated hedging relationship. The net gain or loss recognised in profit or loss excludes any dividend or interest earned on the financial asset and is included in the “other gains and losses, net” line item. Fair value is determined in the manner described in note 40.China United Venture Investment Limited新華聯合投資有限公司114Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）按公平值計入損益之金融資產（續）在以下情況下，金融資產為持作買賣：主要就於短期內出售之目的收購；或在初始確認時為本集團共同管理之已識別金融工具投資組合的一部分，並且最近有可短期獲利之實際趨勢；或為衍生工具，惟屬財務擔保合約或指定有效對沖工具的衍生工具則除外。

按公平值計入其他全面收益之金融資產（債務工具）倘符合以下兩個條件，本集團將其後按公平值計入其他全面收益分類及計量債務工具：目的是收取合約現金流量及出售金融資產的業務模式內持有的金融資產；及金融資產之合約條款於指定日期產生現金流量僅為支付尚未償還本金及本金之利息。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Financial assets at FVTPL (Continued)A financial asset is held for trading if: it has been acquired principally for the purpose of selling it in the near term; or on initial recognition, it is part of a portfolio of identified financial instruments that the Group manages together and has evidence of a recent actual pattern of short-term profit-taking; or it is a derivative (except for a derivative that is a financial guarantee contract or a designated and effective hedging instrument).Financial assets at FVTOCI (debt instruments)The Group classifies and measures subsequently its debt instruments at FVTOCI if both of the following conditions are met: the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling the financial assets; and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.115ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）按公平值計入其他全面收益之金融資產（債務工具）（續）本集團分類為按公平值計入其他全面收益的債務工具包括於實體之投資。

債務工具初始按公平值加交易成本計量。

因使用實際利率法計算的匯兌收益及虧損、減值收益或虧損及利息收入導致的債務工具賬面值的其後變動於損益中確認。

於損益中確認的金額與倘該等債務工具按攤餘成本計量時原應於損益中確認的金額相同。

該等債務工具賬面值的所有其他變動於其他全面收益中確認並於投資重估儲備累計。

當取消確認該等債務工具時，先前於其他全面收益確認的累計收益或虧損重新分類至損益。

根據香港財務報告準則第9號進行減值評估的金融資產及其他項目的減值本集團確認以按攤銷成本或按公平值計入損益計量的債務工具投資的預期信貸虧損的虧損撥備。

在每個報告日期更新的預期信貸虧損金額反映自各自金融工具首次確認以來信貸風險的變化。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)F inancia l assets at FVTOCI (debt instruments) (Continued)The Group’s debt instruments classified as at FVTOCI includes investments in the entities. Debt instruments are initially measured at fair value plus transaction costs. Subsequently, changes in the carrying amount of debt instruments as a result of foreign exchange gains and losses, impairment gains or losses, and interest income calculated using the effective interest method are recognised in profit or loss. The amounts that are recognised in profit or loss are the same as the amounts that would have been recognised in profit or loss if these debt instruments had been measured at amortised cost. All other changes in the carrying amount of these debts instruments are recognised in other comprehensive income and accumulated under the heading of investment revaluation reserve. When these debt instruments are derecognised, the cumulative gains or losses previously recognised in other comprehensive income are reclassified to profit or loss.Impairment of financial assets and other item subject to impairment assessment under HKFRS 9The Group recognises a loss allowance for ECL on investments in debt instruments that are measured at amortised cost or at FVTPL. The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition of the respective financial instrument.China United Venture Investment Limited新華聯合投資有限公司116Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）根據香港財務報告準則第9號進行減值評估的金融資產及其他項目的減值（續）本集團一直為應收貸款、貿易應收賬款、其他應收賬款、現金及等同現金項目以及合約資產確認全期預期信用損失。

此等資產的預期信用損失分別就具有重大結餘的債務人進行個別評估或使用基於合適的分組的撥備矩陣進行評估。

就所有其他金融工具而言，本集團計量相等於12個月預期信用損失的損失撥備，除非信貸風險自初始確認後大幅增加，本集團則確認全期預期信用損失。

評估應否確認全期預期信用損失，乃按自初始確認以來違約的可能性或風險大幅增加為基礎。

(i)信貸風險顯著上升於評估自初始確認以來的金融工具信貸風險是否顯著上升時，本集團將於報告日期金融工具發生的違約風險與初始確認日期金融工具發生的違約風險進行比較。

在進行該評估時，本集團會考慮合理可靠的定量及定性資料，包括過往經驗及無需付出額外成本或精力而可得之前瞻性資料。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Impairment of financial assets and other item subject to impairment assessment under HKFRS 9 (Continued)The Group always recognises lifetime ECL for loan receivables. trade receivables, other receivables, cash and cash equivalent and contract assets. The ECL on these assets are assessed individually for debtors with significant balances or collectively using a provision matrix with appropriate groupings.For all other financial instruments, the Group measures the loss allowance equal to 12-month ECL, unless when there has been a significant increase in credit risk since initial recognition, the Group recognises lifetime ECL. The assessment of whether lifetime ECL should be recognised is based on significant increases in the likelihood or risk of a default occurring since initial recognition.(i) Significant increase in credit riskIn assessing whether the credit r isk on a financial instrument has increased significantly since initial recognition, the Group compares the risk of a default occurring on the financial instrument as at the reporting date with the risk of a default occurring on the financial instrument as at the date of initial recognition. In making this assessment, the Group considers both quantitative and qualitative information that is reasonable and supportable, including historical experience and forward-looking information that is available without undue cost or effort.117ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）根據香港財務報告準則第9號進行減值評估的金融資產及其他項目的減值（續）(i)信貸風險顯著上升（續）尤其是，評估信貸風險是否自初始確認顯著上升時會考慮以下資料：金融工具外部（如有）或內部信貸評級的實際或預期顯著惡化；就指定債務人的信貸風險的外部市場指標（例如信貸息差、債務人的信貸違約掉期價大幅增加）顯著惡化，或金融資產的公平值低於其攤銷成本的時間長度或程度；商業、金融或經濟情況的目前或預期不利變動，預期將導致債務人償還債務的能力顯著下降；債務人經營業績實際或預期顯著惡化；同一債務人其他金融工具之信貸風險顯著上升；債務人的監管、經濟或技術環境出現實際或預期重大不利變動，導致債務人償還債務的能力顯著下降。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Impairment of financial assets and other item subject to impairment assessment under HKFRS 9 (Continued)(i) Significant increase in credit risk (Continued)In particular, the following information is taken into account when assessing whether credit risk has increased significantly since initial recognition: an ac tua l o r expec ted s ign i f i can t deterioration in the financial instrument’s external (if available) or internal credit rating; s igni f icant deter iorat ion in external market indicators of credit risk for a part icular debtor, e.g. a s igni f icant increase in the credit spread, the credit default swap prices for the debtor, or the length of time or the extent to which the fair value of a financial asset has been less than its amortised cost; existing or forecast adverse changes in bus iness, f inanc ia l or economic conditions that are expected to cause a significant decrease in the debtor’s ability to meet its debt obligations; an ac tua l o r expec ted s ign i f i can t deterioration in the operating results of the debtor; significant increases in credit risk on other financial instruments of the same debtor; an actual or expected significant adverse change in the regulatory, economic, or technological environment of the debtor that results in a significant decrease in the debtor’s ability to meet its debt obligations.China United Venture Investment Limited新華聯合投資有限公司118Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）根據香港財務報告準則第9號進行減值評估的金融資產及其他項目的減值（續）(i)信貸風險顯著上升（續）不論上述評估結果如何，本集團預先假設合約付款逾期超過30日後金融資產之信貸風險自初始確認以來顯著上升，除非本集團有合理可靠的資料顯示其他情況。

儘管以上所述，倘一項債務工具於報告日期被釐定為具有低信貸風險，則本集團假設該項債務工具的信貸風險自初始確認以來並無顯著上升。

在下列情況下，一項金融工具被釐定為具有低信貸風險：i )金融工具之違約風險低，i i )借款人近期具充分履行合約現金流量責任的能力及i i i )長遠經濟及業務狀況的不利變動或會（但非必然）降低借款人履行其合約現金流量責任的能力。

本集團定期監察用以確定信貸風險曾否顯著上升的標準的成效，並於適當時候作出修訂，從而確保有關標準能夠於款項逾期前確定信貸風險顯著上升。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Impairment of financial assets and other item subject to impairment assessment under HKFRS 9 (Continued)(i) Significant increase in credit risk (Continued)Irrespective of the outcome of the above assessment, the Group presumes that the credit risk on a financial asset has increased signif icantly since init ial recognit ion when contractual payments are more than 30 days past due, unless the Group has reasonable and supportable information that demonstrates otherwise.Despite the foregoing, the Group assumes that the credit risk on a debt instrument has not increased significantly since initial recognition if the debt instrument is determined to have low credit risk at the reporting date. A financial instrument is determined to have low credit risk if i) the financial instrument has a low risk of default, ii) the borrower has a strong capacity to meet its contractual cash flow obligations in the near term and iii) adverse changes in economic and business conditions in the longer term may, but will not necessarily, reduce the ability of the borrower to fulfil its contractual cash flow obligations.The Group regularly monitors the effectiveness of the criteria used to identify whether there has been a significant increase in credit risk and revises them as appropriate to ensure that the criteria are capable of identifying significant increase in credit r isk before the amount becomes past due.119ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）根據香港財務報告準則第9號進行減值評估的金融資產及其他項目的減值（續）(ii)違約定義本集團認為以下事項構成內部信貸風險管理違約事件，此乃由於過往經驗顯示符合以下任何一項標準的應收款項通常無法收回：債務人違反財務契約時；或內部建立或自外部取得的資料顯示，債務人不大可能支付全額款項予債權人（包括本集團）（並未考慮本集團所持有的任何抵押品）。

不論上述分析如何，本集團認為，倘金融資產逾期超過90天時，則發生違約，除非本集團有合理可靠的資料證明較寬鬆的違約標準屬更合適則作別論。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Impairment of financial assets and other item subject to impairment assessment under HKFRS 9 (Continued)(ii) Definition of defaultThe G roup cons ide r s t he f o l l ow ing as constituting an event of default for internal credit risk management purposes as historical experience indicates that receivables that meet either of the following criteria are generally not recoverable: when there is a breach of f inancial covenants by the debtor; or i n f o r m a t i o n d e v e l o p e d i n t e r n a l l y or obta ined f rom externa l sources indicates that the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collaterals held by the Group).Irrespective of the above analysis, the Group considers that default has occurred when a financial asset is more than 90 days past due unless the Group has reasonable and suppor tab le in fo rmat ion to demonst ra te that a more lagging default criterion is more appropriate.China United Venture Investment Limited新華聯合投資有限公司120Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）根據香港財務報告準則第9號進行減值評估的金融資產及其他項目的減值（續）(iii)信貸減值的金融資產當發生一項或多項對金融資產估計未來現金流量有不利影響的違約事件時，金融資產出現信貸減值。

金融資產出現信貸減值的證據包括有關以下事件之可觀察數據：(a)發行人或借款人出現重大財政困難；(b)違約（例如拖賬或逾期事件）；(c)借款人的放款人因與借款人出現財務困難有關之經濟或合約理由而給予借款人在其他情況下放款人不予考慮之優惠條件；(d)借款人有可能破產或進行其他財務；或(e)由於財務困難致使金融資產的活躍市場消失。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Impairment of financial assets and other item subject to impairment assessment under HKFRS 9 (Continued)(iii) Credit-impaired financial assetsA financial asset is credit-impaired when one or more events of default that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence that a financial asset is credit-impaired includes observable data about the following events:(a) significant financial difficulty of the issuer or the borrower;(b) a breach of contract, such as a default or past due event;(c) the lender (s ) o f the bor rower, fo r economic or contractual reasons relating to the borrower’s f inancial diff iculty, hav ing granted to the bor rower a concession(s) that the lender(s) would not otherwise consider;(d) it is becoming probable that the borrower will enter bankruptcy or other financial reorganisation; or(e) the disappearance of an active market for that f inancia l asset because of financial difficulties.121ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）根據香港財務報告準則第9號進行減值評估的金融資產及其他項目的減值（續）(iv)撇銷政策倘有資料顯示交易債務人陷入嚴重財務困難且無實際展望可收回（如交易對手方已進行清盤或進入破產程序，或（如屬貿易應收款項）該款項已逾期超過兩年）（以較早發生者為準），本集團則撇銷金融資產。

經考慮法律意見（如適用）後，已撇銷之金融資產仍可能受制於本集團收回程序下之強制執行活動。

任何收回均在損益中確認。

(v)計量及確認預期信貸虧損計量預期信貸虧損乃指違約概率、違約虧損率程度（即倘違約所蒙受虧損的程度）及違約風險的函數。

評估違約概率及違約虧損率程度根據歷史數據按前瞻性資料作調整。

關於違約風險，對於金融資產而言，乃指資產於報告日期的賬面總值。

就財務擔保合約而言，承受風險包括於報告日期已提取之金額，連同任何預期將於未來違約日期（根據歷史趨勢、本集團對債務人之特定未來融資需求之理解，以及其他相關前瞻性資料釐定）前提取之額外金額。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Impairment of financial assets and other item subject to impairment assessment under HKFRS 9 (Continued)(iv) Write-off policyThe Group writes off a financial asset when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings, or in the case of trade receivables, when the amounts are over two years past due, whichever occurs sooner. Financial assets written off may still be subject to enforcement a c t i v i t i e s u n d e r t h e G ro u p ’s r e c o v e r y procedures, taking into account legal advice where appropriate. Any recoveries made are recognised in profit or loss.(v) Measurement and recognition of ECLThe measurement of ECL is a function of the probability of default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure at default. The assessment of the probability of default and loss given default is based on historical data adjusted by forward-looking information. As for the exposure at default, for financial assets, this is represented by the assets’ gross carrying amount at the reporting date; for financial guarantee contracts, the exposure includes the amount drawn down as at the reporting date, together with any additional amounts expected to be drawn down in the future by default date determined based on historical trend, the Group’s understanding of the specific future financing needs of the debtors, and other relevant forward-looking information.China United Venture Investment Limited新華聯合投資有限公司122Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）根據香港財務報告準則第9號進行減值評估的金融資產及其他項目的減值（續）(v)計量及確認預期信貸虧損（續）金融資產之預期信貸虧損按根據合約應付本集團之所有合約現金流量與本集團預期可收取之所有現金流量之間的差額估算，並按原定實際利率貼現。

就應收租賃而言，用於釐定預期信貸虧損的現金流量與根據香港財務報告準則第16號租賃計量應收租賃所用之現金流量貫徹一致。

倘本集團已計量一項金融工具的虧損撥備金額相等於前一個報告期的全期預期信貸虧損的金額，但在當前報告日期確定未能符合全期預期信貸虧損的條件，則本集團按在當前報告日期相等於12個月預期信貸虧損的金額計量虧損撥備（使用簡化法的資產除外）。

本集團於損益中確認所有金融工具的減值收益或虧損，對其賬面值進行相應調整（除貿易應收賬款及合約資產外，其相應調整通過虧損撥備賬確認），於其他全面收益中確認及於儲備累計，概無減少於綜合財務狀況表之金融資產賬面值。

並通過虧損撥備賬3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Impairment of financial assets and other item subject to impairment assessment under HKFRS 9 (Continued)(v) Measurement and recognition of ECL (Continued)For financial assets, the ECL is estimated as the difference between all contractual cash flows that are due to the Group in accordance with the contract and all the cash flows that the Group expects to receive, discounted at the original effective interest rate. For a lease receivable, the cash flows used for determining the ECL is consistent with the cash flows used in measuring the lease receivable in accordance with HKFRS 16 Leases .If the Group has measured the loss allowance for a financial instrument at an amount equal to lifetime ECL in the previous reporting period, but determines at the current reporting date that the conditions for lifetime ECL are no longer met, the Group measures the loss allowance at an amount equal to 12-month ECL at the current reporting date, except for assets for which simplified approach was used.The Group recognises an impairment gain or loss in profit or loss for all financial instruments with a corresponding adjustment to their carrying amount, with the exception of trade receivables and contract assets where the corresponding adjustment is recognised through a loss allowance account, for which the loss allowance is recognised in other comprehensive income and accumulated in the reserve, and does not reduce the carrying amount of the financial asset in the consolidated statement of financial position.123ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融資產（續）終止確認金融資產僅當從資產收取現金流量之合約權利屆滿時，或本集團將金融資產及該項資產所有權之絕大部分風險及回報轉讓至另一方，本集團方會終止確認該項金融資產。

於終止確認按已攤銷成本計量的金融資產時，該資產賬面值與已收及應收代價總額間之差額於損益中確認。

此外，於取消確認按公平值計入其他全面收益的債務工具投資時，先前於投資重估儲備累計之累計收益或虧損重新分類至損益。

金融負債及權益工具分類為債務或權益集團實體發行之債務及權益工具根據所訂立合約安排之內容及金融負債與權益工具之定義分類為金融負債或權益。

金融負債所有金融負債其後採用實際利率法按攤銷成本或按公平值計入損益計量。

於轉移並不符合資格作取消確認之金融資產或於應用持續參與方法時產生之金融負債以及本集團所發行之財務擔保合約均根據下文所載之指定會計政策計量。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial assets (Continued)Derecognition of financial assetsThe Group derecognises a financial asset only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership of the asset to another party.On derecognition of a financial asset measured at amortised cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognised in profit or loss. In addition, on derecognition of an investment in a debt instrument classified as at FVTOCI, the cumulative gain or loss previously accumulated in the investments revaluation reserve is reclassified to profit or loss.Financial liabilities and equity instrumentsClassification as debt or equityDebt and equity instruments issued by a group entity are classified as either financial liabilities or as equity in accordance with the substance of the contractual arrangements and the definitions of a financial liability and an equity instrument.Financial liabilitiesAll financial liabilities are subsequently measured at amortised cost using the effective interest method or at FVTPL.Financial liabilities that arise when a transfer of a financial asset does not qualify for derecognition or when the continuing involvement approach applies, and financial guarantee contracts issued by the Group, are measured in accordance with the specific accounting policies set out below.China United Venture Investment Limited新華聯合投資有限公司124Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融負債及權益工具（續）其後按攤銷成本計量之金融負債並非1)業務合併收購方之或然代價，2)持作買賣，或3)指定為按公平值計入損益之金融負債其後使用實際利率法按攤銷成本計量。

實際利率法為計算金融負債攤銷成本及於有關期間內分配利息開支之方法。

實際利率為確實於金融負債預期年期或（倘適用）較短期間貼現估計未來現金付款（包括所有組成實際利率、交易成本及其他溢價或折讓完整部分之費用及貼息）至金融負債攤銷成本之利率。

終止確認金融負債本集團僅於其責任已被解除、註銷或屆滿時方會終止確認金融負債。

終止確認之金融負債賬面值與已付及應付代價（包括任何已轉移非現金資產或已承擔負債）之差額乃於損益內確認。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial l iabi l i t ies and equity instruments (Continued)Financial liabilities subsequently measured at amortised costF inanc ia l l iab i l i t ies that are not 1) cont ingent consideration of an acquirer in a business combination, 2) held-for-trading, or 3) designated as at FVTPL, are subsequently measured at amortised cost using the effective interest method.The effect ive in terest method is a method of calculating the amortised cost of a financial liability and of allocating interest expense over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash payments (including all fees and points paid or received that form an integral part of the effective interest rate, transaction costs and other premiums or discounts) through the expected life of the financial liability, or (where appropriate) a shorter period, to the amortised cost of a financial liability.Derecognition of financial liabilitiesThe Group derecognises financial liabilities when, and only when, the Group’s obligations are discharged, cancelled or they expire. The difference between the carrying amount of the financial liability derecognised and the consideration paid and payable, including any non-cash assets transferred or liabilities assumed, is recognised in profit or loss.125ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）金融工具（續）金融負債及權益工具（續）抵銷金融資產及金融負債當且僅當有合法可強制執行權利以抵銷已確認的金額且擬以淨額基準結算，或變現資產與清償負債的行為同時發生時，本集團的金融資產與負債抵銷，其淨額於綜合財務狀況表呈列。

公平值計量本集團於各報告期末按公平值計量其投資物業、衍生金融工具以及股權及債務工具。

公平值指於計量日期時在合法交易中的市場參與者之間出售資產時所收取或轉讓負債時所支付的價格。

公平值計量乃根據假設出售資產或轉讓負債之交易在資產或負債之主要市場或（在無主要市場之情況下）在資產或負債之最具優勢市場進行而作出。

主要或最具優勢市場必須為本集團可進入之市場。

資產或負債之公平值乃按假設市場參與者於資產或負債定價時會以最佳經濟利益行事計量。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Financial instruments (Continued)Financial l iabi l i t ies and equity instruments (Continued)Offsetting a financial asset and a financial liabilityFinancial assets and liabilities of the Group are offset and the net amount presented in the consolidated statement of financial position when, and only when, there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or realise the asset and settle the liability simultaneously.Fair value measurementThe Group measures i ts investment propert ies, derivative financial instruments and equity and debt instruments at fair value at the end of each reporting period. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either in the principal market for the asset or liability, or in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest.China United Venture Investment Limited新華聯合投資有限公司126Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度3.重大會計政策（續）公平值計量（續）非金融資產之公平值計量經計及一名市場參與者透過以最大限度利用資產以達致最佳用途或將資產出售予將以最大限度利用資產以達致最佳用途之另一名市場參與者而產生經濟效益之能力。

本集團視乎情況使用適當且具備充足數據可供計量公平值之估值技術，以盡量增加使用相關可觀察輸入值及盡量減少使用不可觀察輸入值。

所有其公平值會被計量或於財務報表披露之資產及負債乃按整體對公平值計量屬重要之最低級輸入值在下述公平值等級內分類：第一級－按相同資產或負債於活躍市場之報價（未經調整）第二級－按對公平值計量屬重要之最低級輸入值為可直接或間接觀察之估值技術第三級－按對公平值計量屬重要之最低級輸入值為不可觀察之估值技術就經常於財務報表確認之資產及負債而言，本集團透過於各報告期末重新評估分類（按整體對公平值計量屬重要之最低級輸入值）釐定等級內各級之間有否出現轉換。

3. SIGNIFICANTACCOUNTINGPOLICIES (Continued)Fair value measurement (Continued)A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best use.The Group uses valuat ion techniques that are appropriate in the circumstances and for which sufficient data are available to measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:Level 1 – based on quoted prices (unadjusted) in act ive markets for ident ical assets or liabilitiesLevel 2 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is observable, either directly or indirectlyLevel 3 – based on valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservableFor assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorization (based on the lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.127ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度4.重大會計判斷及估計不確定性之主要來源本公司董事於應用本集團會計政策（如附註3所述）時須就綜合財務報表內呈報的資產、負債、收入及開支數額以及作出之披露作出判斷、估計及假設。

該等估計及相關假設乃根據過往經驗及認為相關之其他因素作出。

實際結果可能有別於該等估計。

各項估計及相關假設會持續檢討。

倘會計估計之修訂僅影響修訂該估計之期間，有關修訂則會在該期間確認，或者倘修訂對當前及未來期間均有影響，則在作出修訂期間及未來期間確認。

應用會計政策之重大判斷除涉及估計之判斷（見下文）外，以下為本公司董事於應用本集團會計政策的過程中所作出之重大判斷及對於綜合財務報表內確認之金額及作出之披露產生最重大影響之重大判斷。

4. CRITICALACCOUNTINGJUDGEMENTS ANDKEYSOURCESOFESTIMATION UNCERTAINTYIn the application of the Group’s accounting policies, which are described in note 3, the directors of the Company are required to make judgements, estimates and assumptions about the amounts of assets, liabilities, revenue and expenses reported and disclosures made in the consolidated financial s t a t e m e n t s . T h e e s t i m a t e s a n d a s s o c i a t e d assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an on-going basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.Critical judgements in applying accounting policiesThe following are the critical judgements, apart from those involving estimations (see below), that the directors of the Company have made in the process of applying the Group’s accounting policies and that have the most significant effect on the amounts recognised and disclosures made in the consolidated financial statements.China United Venture Investment Limited新華聯合投資有限公司128Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度4.重大會計判斷及估計不確定性之主要來源（續）應用會計政策之重大判斷（續）投資物業之遞延稅項為計量採用公平值模式計量之投資物業所產生的遞延稅項負債及遞延稅項資產，本公司董事已檢討本集團投資物業組合並認為本集團之投資物業並無以業務目標是隨時間而非透過銷售消耗投資物業所包含的絕大部分經濟利益的業務模式持有。

因此，在計量本集團投資物業之遞延稅項時，本公司董事釐定用公平值模式計量之投資物業之賬面值完全透過銷售收回的假設並無被推翻。

因此，由於本集團毋須就投資物業之公平值變動繳納任何所得稅，本集團並無就投資物業公平值變動確認任何遞延稅項。

合資安排分類柏濤品林（中國）有限公司（「柏濤品林（中國）」）及柏濤品林（上海）建築設計諮詢有限公司（「柏濤品林（上海）建築設計」）乃有限責任公司，其法律形式將合資安排各方與本公司區分開來。

此外，概無合約安排或任何其他事實及情況表明，合資安排各方對合資安排的資產擁有權利，對其債務承擔義務。

因此，柏濤品林（中國）及柏濤品林（上海）建築設計分類為本集團的合資企業。

4. CRITICALACCOUNTINGJUDGEMENTS ANDKEYSOURCESOFESTIMATION UNCERTAINTY (Continued)Critical judgements in applying accounting policies (Continued)Deferred taxation on investment propertiesFor the purposes of measuring deferred tax liabilities or deferred tax assets ar is ing from investment properties that are measured using the fair value model, the directors of the Company have reviewed the Group’s investment properties portfolios and concluded that the Group’s investment properties are not held under a business model whose objective is to consume substantially all of the economic benefits embodied in the investment properties over time, rather than through sale. Therefore, in measuring the Group’s deferred taxation on investment properties, the directors of the Company have determined that the presumption that the carrying amounts of investment properties measured using the fair value model are recovered entirely through sale is not rebutted. As a result, the Group has not recognised any deferred taxes on changes in fair value of investment properties as the Group is not subject to any income taxes in relation to the fair value changes of investment properties.Classification of joint arrangementsPT & PLChina Limited (“PT & PLChina”) and PT & PLArchitectural Design Consulting (Shanghai) Co., Ltd (“PT & PLArchitectural Design”) are the limited liability companies whose legal form confers separation between the parties to joint arrangement and the Company. Furthermore, there is no contractual arrangement or any other facts and circumstances that indicate that the parties to the joint arrangement have rights to the assets and obligation for the liabilities of the joint arrangement. Accordingly, PT & PLChina and PT & PLArchitectural Design are classified as a joint venture of the Group.129ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度4.重大會計判斷及估計不確定性之主要來源（續）估計不確定性之主要來源以下為有關將來之主要假設及於報告期末估計不確定性（即下一個財政年度內可能對資產及負債賬面值作出重大調整的重大風險）之其他主要來源。

合約工程收入確認管理層根據由項目團隊編製的最新可用合約預算，參考各合約工程的整體表現及管理層的最佳估計及判斷，估計全面建築設計工程的可遇見虧損或應佔溢利金額。

由於業務為合約性質，收入確認涉及重大程度的判斷。

儘管於履行合約的過程中，管理層就合約審閱及修訂估計合約成本，惟就總成本而言，實際合約結果可能高於或低於估計，並將影響所確認收入及溢利。

應收貸款、貿易及其他應收賬款及合約資產預期信貸虧損撥備本集團使用撥備矩陣計算應收貸款、貿易及其他應收賬款及合約資產的預期信貸虧損。

撥備率乃基於具有類似虧損模式的各應收賬款分組的內部信貸評級。

撥備矩陣基於本集團的歷史違約率，並計及毋須不必要成本或努力即可獲得的合理且有理據的前瞻性資料。

於各報告日期會重新評估歷史觀察違約率及考慮前瞻性資料的變動。

此外，具有重大結餘及已出現信貸減值的應收貸款、貿易及其他應收賬款及合約資產會個別評估預期信貸虧損。

4. CRITICALACCOUNTINGJUDGEMENTS ANDKEYSOURCESOFESTIMATION UNCERTAINTY (Continued)Key sources of estimation uncertaintyThe following are the key assumptions concerning the future, and other key sources of estimation uncertainty at the end of the reporting period, that may have a significant risk of resulting in a material adjustment to the carrying amounts of assets and liabilities within the next financial year.Revenue recognition from contract workThe management estimates the amount of foreseeable losses or attr ibutable prof i ts of comprehensive architectural design work based on the latest available budgets of the contracts prepared by project team with reference to the overall performance of each contract work and the management’s best estimates and judgements.Due to the contracting nature of the business, revenue recognition involves a significant degree of judgement. Notwithstanding that the management reviews and revises the estimates of contract costs for the contract as the contract progresses, the actual outcome of the contract in terms of its total costs may be higher or lower than the estimates and this will affect the revenue and profit recognised.Provision of ECL for loan receivables, trade and other receivables and contract assetsThe Group uses provision matrix to calculate ECL for the loan receivables, trade and other receivables and contract assets. The provision rates are based on internal credit ratings as groupings of various debtors that have similar loss patterns. The provision matrix is based on the Group’s historical default rates taking into consideration forward-looking information that is reasonable and supportable available without undue costs or effort. At every reporting date, the historical observed default rates are reassessed and changes in the forward-looking information are considered. In addition, loan receivables, trade and other receivables and contract assets with significant balances and credit impaired are assessed for ECL individually.China United Venture Investment Limited新華聯合投資有限公司130Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度4.重大會計判斷及估計不確定性之主要來源（續）估計不確定性之主要來源（續）應收貸款、貿易及其他應收賬款及合約資產預期信貸虧損撥備（續）預期信貸虧損撥備容易受到估計變動所影響。

有關本集團應收貸款、貿易及其他應收賬款、合約資產及預期信貸虧損評估的資料分別披露於附註25、27、28及40(b)。

投資物業之公平值於二零二二年十二月三十一日，本集團之投資物業為12,700,000港港元（二零二一年：13,500,000港元）。

該公平值乃以獨立合資格估值師採用涉及若干市況假設之物業估值方法對該等物業進行的估值為基準。

該等假設出現之有利或不利變動均會導致本集團投資物業之公平值發生變動，以及對綜合損益及其他全面收益表內所呈報之收益或虧損金額作出相應調整。

有關本集團投資物業之公平值計量之進一步詳情載於附註20。

物業、廠房及設備之估計使用年期於各報告期末，本公司董事會對使用年期有限的物業、廠房及設備的估計使用年期開展檢討。

估計使用年期反映了董事對本集團擬就使用其廠房及設備而產生未來經濟利益的期間所作估計。

殘值反映了董事估計本集團現時將從資產（若有關資產已達到其使用年期極限及預期狀態）出售中獲得的金額，扣除估計出售成本。

於二零二二年十二月三十一日，使用年期有限的廠房及設備的賬面值為25,283,000港元（二零二一年：29,825,000港元）。

4. CRITICALACCOUNTINGJUDGEMENTS ANDKEYSOURCESOFESTIMATION UNCERTAINTY (Continued)Key sources of estimation uncertainty (Continued)Provision of ECL for loan receivables, trade and other receivables and contract assets (Continued)The provision of ECL is sensitive to changes in estimates. The information about the Group’s loan receivables, trade and other receivables, contract assets and the ECL assessment are disclosed in notes 25,27,28 and 40(b) respectively.Fair value of investment propertiesAs at 31 December 2022, the Group’s investment propert ies amounted to HK$12,700,000 (2021: HK$13,500,000). The fa i r va lue was based on va luat ions on these proper t ies conducted by independent qualified valuers using property valuation techniques which involve certain assumptions of market condit ions. Favourable or unfavourable changes to these assumptions would result in changes in the fair values of the Group’s investment properties and corresponding adjustments to the amount of gain or loss reported in the consolidated statement of profit or loss and other comprehensive income. Further details of the fair value measurement of the Group’s investment properties are set out in note 20.Estimated useful life of property, plant and equipmentAt the end of each reporting period, the directors of the Company review the estimated useful l ife of property, plant and equipment with finite useful life. The estimated useful life reflects the directors’ estimates of the periods that the Group intends to derive future economic benefits from the use of the Group’s plant and equipment. The residual values reflect the directors’ estimated amount that the Group would currently obtain from disposal of the assets, after deducting the estimated costs of disposal, if the assets were already of the age and in the condition expected at the end of its useful life. The carrying amounts of plant and equipment with finite useful life as at 31 December 2022 are HK$25,283,000 (2021: HK$29,825,000).131ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度4.重大會計判斷及估計不確定性之主要來源（續）估計不確定性之主要來源（續）物業、廠房及設備及使用權資產減值物業、廠房及設備以及使用權資產按成本減累計折舊及減值（如有）列賬。

於釐定資產是否減值時，本集團須作出判斷及估計，尤其需要評估：(1)是否發生可能影響資產價值的事件或任何跡象；(2)資產的賬面值能否以可收回金額（就使用價值而言，即根據持續使用資產估計的未來現金流量之現值淨額）支持；及(3)估計可收回金額時所採用的適當主要假設，包括現金流量預測及適當折讓率。

當無法估計個別資產（包括使用權資產）的可收回金額時，本集團估計該資產所屬現金產生單位的可收回金額，包括在可確立合理一致的分配基準時分配企業資產，否則按獲分配相關企業資產的最小現金產生單位組別釐定可收回金額。

變更假設及估計（包括折讓率或現金流預測增長率）或會嚴重影響可收回金額。

於二零二二年十二月三十一日，物業、廠房及設備以及使用權資產的賬面值分別為約25,283,000港元及約22,584,000港元（二零二一年：29,825,000港元及25,641,000港元）。

並無就截至二零二二年十二月三十一日止年度確認減值虧損（二零二一年：無）。

4. CRITICALACCOUNTINGJUDGEMENTS ANDKEYSOURCESOFESTIMATION UNCERTAINTY (Continued)Key sources of estimation uncertainty (Continued)Impairment of property, plant and equipment and right-of-use assetsProperty, plant and equipment and right-of-use assets are stated at costs less accumulated depreciation and impairment, if any. In determining whether an asset is impaired, the Group has to exercise judgement and make estimation, particularly in assessing: (1) whether an event has occurred or any indicators that may affect the asset value; (2) whether the carrying value of an asset can be supported by the recoverable amount, in the case of value in use, the net present value of future cash flows which are estimated based upon the continued use of the asset; and (3) the appropriate key assumptions to be applied in estimating the recoverable amounts including cash flow projections and an appropriate discount rate. When it is not possible to estimate the recoverable amount of an individual asset (including right-of-use assets), the Group estimates the recoverable amount of the cash generating unit to which the assets belongs, including allocation of corporate assets when a reasonable and consistent basis of allocation can be established, otherwise recoverable amount is determined at the smallest group of cash generating units, for which the relevant corporate assets have been allocated. Changing the assumptions and estimates, including the discount rates or the growth rate in the cash flow projections, could materially affect the recoverable amounts.As at 31 December 2022, property, p lant and equipment and right-of-use assets with carrying va lues o f app rox ima te l y HK$25,283,000 and approximately HK$22,584,000 (2021: HK$29,825,000 and HK$25,641,000) respectively. No impairment losses have been recognised for the year ended 31 December 2022 (2021: Nil).China United Venture Investment Limited新華聯合投資有限公司132Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度4.重大會計判斷及估計不確定性之主要來源（續）估計不確定性之主要來源（續）存貨可變現淨值管理層審視本集團的存貨狀況，並就所發現的不再適合銷售的陳舊及滯銷存貨項目作出撥備。

管理層主要根據存貨在日常業務過程中的估計售價減估計完工成本及為達成出售所需的估計成本估計有關存貨的可變現淨值。

本集團於各個報告期末開展存貨檢討，並就陳舊及滯銷項目作出撥備。

於二零二二年十二月三十一日，存貨賬面值約為34,367,000港元（二零二一年：58,131,000港元），扣除減值撥備12,652,000港元（二零二一年：11,095,000港元）。

非上市投資的公平值變動分類為透過損益按公平值列賬的金融資產的非上市投資已根據不可觀察輸入數據使用估值技術進行估值，詳情載於財務報表附註40。

估值要求本集團釐定非上市投資的現值貼現率。

本集團將該等投資的公平值分類為第三級。

截至二零二二年十二月三十一日止年度，分類為透過損益按公平值列賬的金融資產的非上市投資的公平值虧損約3,088,000港元（二零二一年：不適用）已於損益確認。

進一步詳情載於財務報表附註22。

4. CRITICALACCOUNTINGJUDGEMENTS ANDKEYSOURCESOFESTIMATION UNCERTAINTY (Continued)Key sources of estimation uncertainty (Continued)Net realisable value of inventoriesManagement reviews the condition of the inventories of the Group and makes provision for obsolete and slow-moving inventory items identified that are no longer suitable for sale. Management estimates the net realisable value for such inventories based primarily on the estimated selling price in the ordinary course of business less the estimated costs of completion and the estimated costs necessary to make the sale. The Group carries out an inventory review at the end of each reporting period and makes provision for obsolete and slow-moving items. As at 31 December 2022, the carrying amounts of inventories were approximately HK$34,367,000 (2021: HK$58,131,000), net of impairment provis ion of HK$12,652,000 (2021: HK$11,095,000).Fair value change of unlisted investmentsThe unlisted investments classified as financial assets at FVTPL have been valued based on an unobservable inputs using valuation technique as detailed in note 40 to the financial statements. The valuation requires the Group to determine the discount rate of present value of the unlisted investments. The Group classifies the fair value of these investments as Level 3. During the year ended 31 December 2022, the fair value loss of unlisted investments classified as financial assets at FVTPL is approximately HK$3,088,000 (2021: N/A) have been recognised in profit or loss. Further details are included in note 22 to the financial statements.133ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度5.收入收入指年內銷售貨品、建築合約及金融服務產生的收入。

於以下年度，本集團來自持續經營業務的收入分析如下：(i)分拆客戶合約收入截至二零二二年十二月三十一日止年度5. REVENUERevenue represents revenue arising on sales of goods, construction contracts and financial services for the year. An analysis of the Group’s revenue for the year from continuing operations is as follows:(i) Disaggregation of revenue from contracts with customersFor the year ended 31 December 2022Sales of connectivity productsContracts of comprehensive architectural servicesFinancial services Total銷售接駁產品全面建築服務合約金融服務總計HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元Revenue from contract with customers within the scope HKFRS 15香港財務報告準則第15號範圍內的客戶合約收入Types of customers客戶類型Original equipment manufacturer (“OEM”) customers原設備生產商（「OEM」）客戶164,233 – – 164,233Retail distributors零售分銷商108,383 – – 108,383Contractors承辦商– 8,270 – 8,270Corporate customers企業客戶– – 6,9646,964 Total總計272,6168,2706,964287,850 Geographical markets地區市場Korea韓國81,625 – – 81,625The People Republic of China (“PRC”)中華人民共和國（「中國」） 5,2398,2706,96420,473Japan日本53,073 – – 53,073The United States of America (“USA”)美利堅合眾國（「美國」） 102,431 – – 102,431Taiwan台灣16,690 – – 16,690Others其他13,558 – – 13,558 Total總計272,6168,2706,964287,850 Timing of revenue recognition收入確認時機At a point in time於某時間點272,616 – – 272,616Over time隨時間– 8,2706,96415,234 Total總計272,6168,2706,964287,850 China United Venture Investment Limited新華聯合投資有限公司134Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度5.收入（續）(i)分拆客戶合約收入（續）收入指年內銷售貨品及建築合產生的收入。

於以下年度，本集團來自持續經營業務的收入分析如下：截至二零二一年十二月三十一日止年度5. REVENUE (Continued)(i) Disaggregation of revenue from contracts with customers (Continued)Revenue represents revenue arising on sales of goods and construction contracts for the year. An analysis of the Group’s revenue for the year from continuing operations is as follows:For the year ended 31 December 2021Sales of connectivity productsContracts of comprehensive architectural services Total銷售接駁產品全面建築服務合約總計HK$’000 HK$’000 HK$’000千港元千港元千港元Types of customers客戶類型OEM customers OEM客戶208,657 – 208,657Retail distributors零售分銷商108,589 – 108,589Contractors承辦商– 22,00922,009 Total總計317,24622,009339,255 Geographical markets地區市場Korea韓國103,037 – 103,037The PRC中國13,10022,00935,109Japan日本67,471 – 67,471The USA美國94,148 – 94,148Taiwan台灣27,547 – 27,547Others其他11,943 – 11,943 Total總計317,24622,009339,255 Timing of revenue recognition收入確認時機At a point in time於某時間點317,246 – 317,246Over time隨時間– 22,00922,009 Total總計317,24622,009339,255 135ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度5.收入（續）(ii)客戶合約的履約責任(a)銷售接駁產品就買賣接駁產品而言，本集團向OEM客戶及零售分銷商銷售接駁產品。

收入於轉移貨品控制權時確認，即貨品交付至指定地點並獲客戶確認時。

(b)全面建築服務合約本集團向獨立承辦商提供全面建築服務。

來自該等服務的收入於隨時間達成履約責任時確認，原因為本集團的履約並無產生對本集團有其他用途的資產，而本集團對迄今已完成履約的付款擁有可強制執行的權利。

收入乃使用投入法參照完全達成相關履約責任的進度隨時間確認。

本集團的服務合約載有付款時間表，規定於設計期內達成若干指定里程碑時支付階段性付款。

本集團要求若干客戶預付總合約金額10%至30%的按金，當本集團於全面建築服務開始前收取按金，則會於合約開始時產生合約負債，直至就特定合約確認的收入超過已收按金金額。

5. REVENUE (Continued)(ii) Performance obligations for contracts with customers(a) Sales of connectivity productsFor trading of connectivity products, the Group sells connectivity products to OEM customers and retail distributors. Revenue is recognised when control of the goods has transferred, being when the goods have been delivered to the specific location and confirmed by the customers.(b) Contracts of comprehensive architectural servicesThe Group provides comprehensive architectural services to independent contractors. Revenue from such services are recognised when a performance obligation is satisfied over time as the Group’s performance does not create an asset with an alternative use to the Group and the Group has an enforceable right to payment for performance completed to date. Revenue is recognised over time by reference to the progress towards complete satisfaction of the relevant performance obl igat ion us ing input method.The Group’s service contracts include payment schedules which require stage payments over the design period once certain specified milestones are reached. The Group requires certain customers to provide upfront deposits range from 10% to 30% of total contract sum, when the Group receives a deposit before comprehensive architectural service commences, this will give rise to contract liabilities at the start of a contract, until the revenue recognised on the specific contract exceeds the amount of the deposit received.China United Venture Investment Limited新華聯合投資有限公司136Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度5.收入（續）(ii)客戶合約的履約責任（續）(b)全面建築服務合約（續）合約資產（減同一合約的相關合約負債）於履行全面建築服務期間確認，代表本集團就所履行服務收取代價的權利，原因為有關權利取決於本集團達成指定里程碑的未來表現。

於達成收費里程碑後有關權利成為無條件時，合約資產轉撥至貿易應收賬款。

(c)金融服務截至二零二二年十二月三十一日止年度，本集團新從事提供金融服務。

就金融服務而言，本集團向實體提供財務顧問服務及企業金融服務。

收入根據服務協議的條款及條件確認。

(iii)分配至客戶合約餘下履約責任的交易價格全面建築服務合約通常於一年內完成。

誠如香港財務報告準則第15號所允許，並無披露分配至該等未完成合約的交易價格。

5. REVENUE (Continued)(ii) Performance obligations for contracts with customers (Continued)(b) Contracts of comprehensive architectural services (Continued)A cont rac t asset , ne t o f cont rac t liability related to the same contract, is recognised over the period in which t h e c o m p re h e n s i v e a r c h i t e c t u r a l services are performed representing the Group’s right to consideration for the services performed because the rights are conditioned on the Group’s future per formance in achiev ing speci f ied milestones. The contract assets are transferred to trade receivables when the rights become unconditional upon meeting the billing milestones.(c) Financial servicesDuring the year ended 31 December 2022, the Group newly engaged in prov is ion of f inancia l serv ices. For financial services, the Group provides financial advisory services and corporate financial services to entities. Revenue is recognised in accordance with the terms and conditions of the service agreements.(iii) Tr a n s a c t i o n p r i c e a l l o c a t e d t o t h e remaining performance obl igation for contracts with customersContracts of comprehensive architectural services are typically completed within one year. As permitted under HKFRS 15, the transaction price allocated to these unsatisfied contracts is not disclosed.137ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度6.分部資料就資源分配及評估分部業績而向本公司董事會（即主要營運決策者）呈報之資料集中於所交付或提供之貨品或服務類別。

於達致本集團的可呈報分部時，主要營運決策者並無將所識別的經營分部合併計算。

為調配資源及評估表現而向內部呈報之分部資料乃基於客戶類別進行分析，與向主要營運決策者呈報的資料相同。

具體而言，本集團根據香港財務報告準則第8號之可呈報分部如下：1. OEM客戶2.零售分銷商3.全面建築服務合約4.金融服務上述經營分部構成本集團按可呈報分部劃分的持續經營業務業績。

6. SEGMENTINFORMATIONInformation reported to the Board of Directors of the Company, being the chief operating decision makers, for the purpose of resources allocation and assessment of segment performance focuses on types of goods or services delivered or provided. No operating segments identified by the chief operating decision makers have been aggregated in arriving at the reportable segments of the Group.Segment information reported internal ly for the purposes of resource allocation and performance assessment is analysed based on the class of customers which is the same as information reported to the CODM.Specifically, the Group’s reportable segments under HKFRS 8 are as follows:1. OEM customers2. Retail distributors3. Contracts of comprehensive architectural services4. Financial servicesThe above operating divisions constitute the results from continuing operations by reportable segments of the Group.China United Venture Investment Limited新華聯合投資有限公司138Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度6.分部資料（續）分部收入及業績以下為本集團按可呈報及持續經營分部劃分的收入及業績分析：截至二零二二年十二月三十一日止年度持續經營業務截至二零二一年十二月三十一日止年度持續經營業務6. SEGMENTINFORMATION (Continued)Segment revenue and resultsThe following is an analysis of the Group’s revenue and results by reportable and continuing operating segments:For the year ended 31 December 2022Continuing operationsOEM customersRetail distributorsContracts of comprehensive architectural servicesFinancial services TotalOEM客戶零售分銷商全面建築服務合約金融服務總計HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元千港元Segment revenue分部收入164,233108,3838,2706,964287,850 Segment result分部業績5,5362,407 (9,071) 1,19466 Unallocated income未分配收益6,366Unallocated expenses未分配開支(67,657) Loss before tax除稅前虧損(61,225) For the year ended 31 December 2021Continuing operationsOEM customersRetail distributorsContracts of comprehensive architectural services TotalOEM客戶零售分銷商全面建築服務合約總計HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元Segment revenue分部收入208,657108,58922,009339,255 Segment result分部業績2843,494 (558) 3,220 Unallocated income未分配收益4,744Unallocated expenses未分配開支(61,398) Loss before tax除稅前虧損(53,434) 139ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度6.分部資料（續）分部收入及業績（續）上文呈報的分部收入指來自外部客戶的收入。

於本年度及過往年度並無分部間銷售。

經營分部的會計政策與附註3所述本集團的會計政策相同。

分部業績指來自各分部的損益而並無分配其他收入、若干其他（虧損）及收益、若干金融資產及合約資產減值虧損（扣除撥回）、投資物業公平值變動、應佔合資企業虧損、若干財務成本、若干銷售及分銷開支、中央行政成本及出售一間附屬公司的收益。

此乃就資源分配及表現評估向主要營運決策者呈報之計量方法。

分部資產及負債以下為本集團按可呈報及經營分部劃分的資產及負債分析：分部資產6. SEGMENTINFORMATION (Continued)Segment revenue and results (Continued)Segment revenue reported above represents revenue generated from external customers. There were no intersegment sales in the current and prior years.The accounting policies of the operating segments are the same as the Group’s accounting policies described in note 3. Segment result represents the profit or loss from each segment without allocation of other income, certain other (losses) and gains, certain impairment losses of financial assets and contract assets, net of reversals, change in fair value of investment properties, share of loss of jo int ventures, certain f inance costs, certain sell ing and distribution expenses, central administration costs and gain on disposal of a subsidiary. This is the measure reported to the chief operating decision makers for the purposes of resource allocation and performance assessment.Segment assets and liabilitiesThe following is an analysis of the Group’s assets and liabilities by reportable and operating segments:Segment assets20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務OEM customers OEM客戶83,082153,367Retail distributors零售分銷商96,11181,579Contracts of comprehensive architectural services全面建築服務合約12,48752,482Financial services金融服務38,276 – Total segment assets分部資產總額229,956287,428Corporate and other assets公司及其他資產89,795129,686 Consolidated assets合併資產319,751417,114 China United Venture Investment Limited新華聯合投資有限公司140Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度6.分部資料（續）分部資產及負債（續）分部負債就監察分部業績及於分部間分配資源而言：–除未分配公司資產（包括應收貸款、投資物業、於合資企業的權益、若干使用權資產、其他應收賬款、應收一間合資企業款項及若干現金及等同現金項目）外，所有資產均分配至經營分部。

–除未分配公司負債（包括若干其他應付款項、應付一間關聯公司款項、應付一名董事款項、稅項負債、其他借貸及若干租賃負債）外，所有負債均分配至經營分部。

6. SEGMENTINFORMATION (Continued)Segment assets and liabilities (Continued)Segment liabilities20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務OEM customers OEM客戶66,37879,541Retail distributors零售分銷商8,49341,395Contracts of comprehensive architectural services全面建築服務合約5,9886,279Financial services金融服務641 – Total segment liabilities分部負債總額81,500127,215Corporate and other liabilities公司及其他負債123,636116,791 Consolidated liabilities合併負債205,136244,006 For the purpose of monitoring segment performances and allocating resources between segments:– all assets are allocated to operating segments other than unal located corporate assets, i n c l ud i ng l oan rece i v ab l e s , i n ves tmen t properties, interest in joint ventures, certain right-of-use assets, other receivables, amount due from a joint venture, and certain cash and cash equivalent.– all liabilities are allocated to operating segments other than unallocated corporate liabil it ies, including certain other payables, amount due to a related company, amount due to a director, tax liabilities, other borrowings and certain lease liabilities.141ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度6.分部資料（續）其他分部資料截至二零二二年十二月三十一日止年度持續經營業務6. SEGMENTINFORMATION (Continued)Other segment informationFor the year ended 31 December 2022Continuing operationsOEM customersRetail distributorsContracts of comprehensive architectural servicesFinancial services Unallocated TotalOEM客戶零售分銷商全面建築服務合約金融服務未分配總計HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元千港元千港元Amounts included in the measure of segment profit or loss or segment assets:計入分部損益或分部資產計量的金額：Depreciation of property, plant and equipment物業、廠房及設備折舊(2,761) (1,296) (210) (10) – (4,277)Amortisation of other intangible asset其他無形資產攤銷– – – (692) – (692)Depreciation of right-of-use assets使用權資產折舊(4,387) (625) – (88) (737) (5,837)(Impairment)/reversal of loan receivables, trade and other receivables and contract assets應收貸款、貿易及其他應收賬款以及合約資產（減值）╱撥回(42) 67 (3,735) (8) 306 (3,412)Provision of allowance for inventories計提存貨撥備(1,557) – – – – (1,557)Finance costs財務成本(2,684) (30) – (21) (1,130) (3,865) Amounts regularly provided to the chief operating decision makers but not included in the measure of segment profit or loss or segment assets:定期向主要營運決策者提供但不計入分部損益或分部資產計量的金額：Share of loss of joint ventures應佔合資企業虧損– – – – (3,405) (3,405)Interest income on bank deposits銀行存款之利息收入– – – – 515515Interest income on loan receivables應收貸款之利息收入– – – – 834834 China United Venture Investment Limited新華聯合投資有限公司142Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度6.分部資料（續）其他分部資料（續）截至二零二一年十二月三十一日止年度持續經營業務6. SEGMENTINFORMATION (Continued)Other segment information (Continued)For the year ended 31 December 2021Continuing operationsOEM customersRetail distributorsContracts of comprehensive architectural servicesFinancial services Unallocated TotalOEM客戶零售分銷商全面建築服務合約金融服務未分配總計HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元千港元千港元Amounts included in the measure of segment profit or loss or segment assets:計入分部損益或分部資產計量的金額：Depreciation of property, plant and equipment物業、廠房及設備折舊(2,660) (1,385) (308) – – (4,353)Depreciation of right-of-use assets使用權資產折舊(2,567) (257) – – (230) (3,054)Impairment of trade and other receivables and contract assets貿易及其他應收賬款以及合約資產減值(343) (179) (901) – (1,389) (2,812)Provision of allowance for inventories計提存貨撥備(5,054) (2,630) – – – (7,684)Finance costs財務成本(581) (303) – – (1,008) (1,892) Amounts regularly provided to the chief operating decision makers but not included in the measure of segment profit or loss or segment assets:定期向主要營運決策者提供但不計入分部損益或分部資產計量的金額：Investment in joint ventures於合資企業的投資– – – – 3,4053,405Share of loss of joint ventures應佔合資企業虧損– – – – (1,789) (1,789)Interest income on bank deposits銀行存款之利息收入– – – – 207207 143ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度6.分部資料（續）地區資料本集團之業務位於香港、中國及台灣。

有關本集團來自外部客戶的持續經營業務收益的資料乃根據客戶的地理位置呈列。

有關本集團非流動資產的資料乃根據資產的地理位置呈列。

附註：非流動資產不包括於合資企業的投資、按公平值計入損益的金融資產及應收貸款。

6. SEGMENTINFORMATION (Continued)Geographical informationThe Group’s operations are located in Hong Kong, the PRC and Taiwan.Information about the Group’s revenue from continuing operations from external customers is presented based on the geographical location of the customers. Information about the Group’s non-current assets is presented based on the geographical location of the assets.Revenue from external customers來自外部客戶的收入20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Korea韓國81,625103,037The PRC中國20,47335,110Japan日本53,07367,471USA美國102,43194,148Taiwan台灣16,69027,547Others其他地區13,55811,942 287,850339,255 Non-current assets非流動資產20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元The PRC中國38,52647,559Hong Kong香港22,62216,282Others其他地區1,0575,125 62,20568,966 Note: Non-current assets exclude investment in joint ventures, financial assets of FVTPL and loan receivables.China United Venture Investment Limited新華聯合投資有限公司144Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度6.分部資料（續）有關主要客戶的資料相應年度為本集團總收入貢獻10%以上之客戶收入如下：1來自銷售接駁產品之收入。

2相應收入並無佔本集團總收入10%以上。

7.其他收入6. SEGMENTINFORMATION (Continued)Information about major customersRevenue from customers of the corresponding years contributing over 10% of the total revenue of the Group are as follows:20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Company A1公司A141,55556,776Company B1公司B158,68272,415Company C1公司C139,99146,902Company D1公司D143,747 N/A不適用2 1 Revenue from sales of connectivity products.2 The corresponding revenue did not contribute over 10% of the total revenue of the Group.7. OTHERINCOME20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務Interest income on bank deposits銀行存款的利息收入515207Interest income on loan receivables應收貸款之利息收入834 –Rental income (Note a)租賃收入（附註a） 2,1511,836Government subsidies (Note b)政府補貼（附註b） 597133Tooling and sampling工裝及取樣1,8232,118Dividend 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36 –Miscellaneous income雜項收入105450 6,0614,744 145ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度7.其他收入（續）附註：(a)租金收入產生自本集團投資物業的經營租賃，其租賃付款為固定。

年內產生相關直接經營開支483,000港元（二零二一年：95,000港元）。

(b)政府補貼指根據(i)香港特別行政區政府防疫抗疫基金授出的薪金及工資補貼，用於支付僱員工資192,000港元（二零二一年：無）；及(ii)中國政府提供的保就業計劃授出的薪金及工資補貼405,000港元（二零二一年：133,000港元）。

收取該等補貼並無附帶未達成的條件及其他或然事項。

8.其他（虧損）及收益7. OTHERINCOME (Continued)Notes:(a) Rental income arise from the operat ing leases of i ts investment properties of the Group of which lease payment were fixed. The related direct operating expenses incurred during the year were HK$483,000 (2021: HK$95,000).(b) The government subsidies represents salaries and wage subsidies granted under (i) Anti-epidemic Fund by the Government of the Hong Kong Special Administrative Region for the use of paying wages of employees of HK$192,000 (2021: Nil), and (ii) Employment Support Scheme provided by the PRC government of HK$405,000 (2021: HK$133,000). There are no unfulfilled conditions and other contingencies attached to the receipts of those subsidies.8. OTHER (LOSSES) ANDGAINS20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務Net foreign exchange (losses)/gains匯兌（虧損）╱收益淨額(1,379) 4,397Loss on write-off of property, plant and equipment撇銷物業、廠房及設備之虧損(39) – (1,418) 4,397 China United Venture Investment Limited新華聯合投資有限公司146Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度9.金融資產減值虧損（扣除撥回）10.財務成本9. IMPAIRMENTLOSSESOFFINANCIAL ASSETS, NETOFREVERSAL20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務Impairment losses recognised/ (reversed) on:就下列各項確認╱（撥回）的減值虧損：– Trade receivables －貿易應收賬款3,6011,418– Contract assets －合約資產1175– Loan receivables －應收貸款470 –– Other receivables －其他應收賬款款(776) 1,389 3,4122,812 10. FINANCECOSTS20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務Interest expenses on下列各項的利息開支– Bank borrowings －銀行借貸1,725135– Other borrowings －其他借貸856918– Lease liabilities －租賃負債1,284839 3,8651,892 147ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度11.董事及行政人員酬金本年度董事及主要行政人員的薪酬如下：11. DIRECTORS’ ANDCHIEFEXECUTIVE’S EMOLUMENTSDirectors’ and chief executive’s remuneration for the year, were as follows:FeesSalaries and other benefitsRetirement benefits scheme contributions Total酬金薪金及其他福利退休福利計劃供款總計HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元Year ended 31 December 2022截至二零二二年十二月三十一日止年度Executive directors:執行董事：Mr. Wang Li Feng王漓峰先生1,5601,3906973,647Ms. Lee Jui-lan1李瑞蘭女士1842 – – 842Mr. Yu Sanlong2于三龍先生279341081,211Mr. Fan Xiaoling范小令先生1,073 – – 1,073Dr. Chen Xiaofeng3陳曉鋒博士3 – 58515600Mr. Ni Xian4倪弦先生4450 – – 450Mr. Su Guang5蘇光先生5 – 8409849Non-executive director:非執行董事：Mr. Huang Bin6黃斌先生6310 – – 310Independent non-executive directors:獨立非執行董事：Dr. Fong Chi Wan, Alex7方志偉博士760 – – 60Mr. Sui Fu Xiang8隋福祥先生890 – – 90Dr. Yan Ka Shing甄嘉勝醫生– – – –Dr. Feng Shen9馮申博士9 – – – –Mr. Wu Lebin10吳樂斌先生10206 – – 206Mr. Xu Lin11許琳先生11198 – – 198 Total總計5,5823,2257299,536 China United Venture Investment Limited新華聯合投資有限公司148Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度11.董事及行政人員酬金（續）1於二零二二年五月六日辭任2於二零二二年十二月二十九日辭任3於二零二二年二月十七日獲委任及於二零二二年十二月二十九日辭任4於二零二二年三月四日獲委任及於二零二三年十一月二十二日調任為非執行董事5於二零二二年五月一日獲委任及於二零二二年十二月二十九日辭任6於二零二二年二月二十日獲委任及於二零二四年三月十三日辭任7於二零二二年八月十七日辭任8於二零二二年八月十七日獲委任9於二零二二年三月四日辭任10於二零二二年二月二十日獲委任及於二零二三年七月二十四日辭任11於二零二二年三月四日獲委任及於二零二二年十二月二十九日辭任11. DIRECTORS’ ANDCHIEFEXECUTIVE’S EMOLUMENTS (Continued)FeesSalaries and other benefitsRetirement benefits scheme contributions Total酬金薪金及其他福利退休福利計劃供款總計HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元Year ended 31 December 2021截至二零二一年十二月三十一日止年度Executive directors:執行董事：Mr. Wang Li Feng王漓峰先生– 3,3094233,732Ms. Lee Jui-lan1李瑞蘭女士1 – 1,104141,118Mr. Yu Sanlong2于三龍先生2 – 732 – 732Mr. Fan Xiaoling范小令先生– 592 – 592Dr. Chen Xiaofeng3陳曉鋒博士3 – – – –Mr. Ni Xian4倪弦先生4 – – – –Mr. Su Guang5蘇光先生5 – – – –Independent non-executive directors:獨立非執行董事：Dr. Fong Chi Wan, Alex7方志偉博士7120 – – 120Dr. Yan Ka Shing甄嘉勝醫生– – – –Dr. Feng Shen9馮申博士9 – – – –Mr. Wu Lebin10吳樂斌先生10 – – – –Mr. Xu Lin11許琳先生11 – – – – Total總計1205,7374376,294 1 Resigned on 6 May 20222 Resigned on 29 December 20223 Appointed on 17 February 2022 and resigned on 29 December 20224 Appointed on 4 March 2022 and re-designated as a non-executive director on 22 November 20235 Appointed on 1 May 2022 and resigned on 29 December 20226 Appointed on 20 February 2022 and resigned on 13 March 20247 Resigned on 17 August 20228 Appointed on 17 August 20229 Resigned on 4 March 202210 Appointed on 20 February 2022 and resigned on 24 July 202311 Appointed on 4 March 2022 and resigned 29 December 2022149ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度12.員工酬金本集團五名最高薪酬人士中，五名（二零二一年：四名）為本公司董事，彼等之酬金已於綜合財務報表附註11披露。

其餘一名人士於二零二一年的酬金如下：下列酬金範圍內非本公司董事的最高薪僱員之數目如下：13.已終止經營業務出售電子產品貿易業務根據日期為二零二一年六月十六日的買賣協議，本集團同意向一名獨立第三方出售東莞亞聯科技電子有限公司（「東莞亞聯」）的全部股權，總代價約為122,210,000港元。

於二零二一年十月二十二日，由於東莞亞聯的控制權已轉移至收購方，故出售東莞亞聯已完成。

12. EMPLOYEE’SEMOLUMENTSThe five individuals with the highest emoluments in the Group, five (2021: four) were directors of the Company whose emoluments are disclosed in note 11 of the consolidated financial statements. The emoluments of the remaining one individual of 2021 were as follow:2021二零二一年HK$’000千港元Salaries and other benefits薪金及其他福利519Retirement benefit scheme contributions退休福利計劃供款87 606 The number of the highest paid employees who are not the directors of the Company whose remuneration fell within the following bands is as follow:2021二零二一年Nil to HK$1,000,000零至1,000,000港元1 13. DISCONTINUEDOPERATIONDisposal of trading of electronic products operationPursuant to a sale and purchase agreement dated 16 June 2021, the Group agreed to dispose the entire equity interests in Dongguan Asia-Link Technology Limited (“Dongguan Asia-Link”) to an independent third party for a total consideration of approximately HK$122,210,000. On 22 October 2021, the disposal of Dongguan Asia-Link was completed as the control of Dongguan Asia-Link was passed to the acquirer.China United Venture Investment Limited新華聯合投資有限公司150Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度13.已終止經營業務（續）出售電子產品貿易業務（續）截至二零二一年十二月三十一日止年度來自已終止經營業務之出售虧損載列如下：電子產品業務於二零二一年一月一日至二零二一年十月二十二日期間之業績（已計入綜合損益及其他全面收益表）如下：13. DISCONTINUEDOPERATION (Continued)Disposal of trading of electronic products operation (Continued)The loss for the year ended 31 December 2021 of disposal from discontinued operation is set out below:2021二零二一年HK$’000千港元Loss of trading of electronic products operation for the year電子產品貿易業務之年內虧損(1,653)Gain on disposal of trading of electronic products operation (note 38)出售電子產品貿易業務之收益（附註38）107,885 106,232 The results of the electronic products operation for the period from 1 January 2021 to 22 October 2021, which have been included in the consolidated statement of profit or loss and other comprehensive income, were as follows:Period ended22 October 2021截至二零二一年十月二十二日止期間HK$’000千港元Other income其他收益467Selling and distribution expenses銷售及分銷開支(5)Administrative expenses行政開支(2,115) Loss before taxation除稅前虧損(1,653)Income tax expenses所得稅開支– Loss for the period from discontinued operations attributable to owners of the Company本公司擁有人應佔來自已終止經營業務之期內虧損(1,653) 151ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度13.已終止經營業務（續）出售電子產品貿易業務（續）截至二零二一年十月二十二日止期間溢利乃經扣除下列各項後達致：東莞亞聯於出售日期之資產及負債賬面值於附註38披露。

13. DISCONTINUEDOPERATION (Continued)Disposal of trading of electronic products operation (Continued)Profit for the period ended 22 October 2021 has been arrived after charging:Period ended22 October 2021截至二零二一年十月二十二日止期間HK$’000千港元Other staff costs其他員工成本– Salaries and other benefits －薪金及其他福利3,455– Retirement benefits scheme contributions －退休福利計劃供款492 Total staff costs員工成本總額3,947 Depreciation of折舊– Property, plant and equipment －物業、廠房及設備641– Right-of-use assets －使用權資產64Provision of allowance for inventories (included cost of sales and services rendered)計提存貨撥備（包括銷售及提供服務的成本）142 Period ended22 October 2021截至二零二一年十月二十二日止期間HK$’000千港元Other income:其他收入：Interest income on bank deposits銀行存款利息收入3Miscellaneous income雜項收入464 467 The carrying amounts of assets and liabilities of Dongguan Asia-Link as at the date of disposal are disclosed in note 38.China United Venture Investment Limited新華聯合投資有限公司152Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度14.所得稅開支根據香港利得稅的二級利得稅稅率制度，合資格集團實體的首2,000,000港元溢利將按8.25%的稅率徵稅，而超過2,000,000港元的溢利將按16.5%的稅率徵稅。

不符合二級利得稅稅率制度的集團實體的溢利將繼續按16.5%的固定稅率徵稅。

因此，合資格集團實體的首2,000,000港元估計應課稅溢利按8.25%計算香港利得稅，而超過2,000,000港元的估計應課稅溢利則按16.5%計算香港利得稅。

本公司於中國經營的附屬公司須繳納中國企業所得稅。

兩個年度內，根據中國相關所得稅法律及法規，中國適用之企業所得稅稅率為25%，惟下文所述附屬公司除外。

在中國經營之若干附屬公司符合特定地區企業所得稅優惠目錄條件。

根據財稅(2014)26號，前海深港現代服務業合作區的合資格公司於二零一四年一月一日至二零二零年十二月三十一日期間授予15%的減免企業所得稅稅率，並於二零二一年一月一日至二零二五年十二月三十一日進一步授予15%的減免企業所得稅稅率。

14. INCOMETAXEXPENSE20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務Current tax:當期稅項：Hong Kong香港171 –PRCEnterprise Income Tax (“EIT”)中國企業所得稅（「企業所得稅」） 783,072 Income tax expense for the year年內所得稅開支2493,072 Under the two-tiered profits tax rates regime of Hong Kong Profits Tax, the first HK$2 million of profits of the qualifying group entity will be taxed at 8.25%, and profits above HK$2 million will be taxed at 16.5%. The profits of group entities not qualifying for the two-tiered profits tax rates regime will continue to be taxed at a flat rate of 16.5%. Accordingly, the Hong Kong Profits Tax of the qualifying group entity is calculated at 8.25% on the first HK$2 million of the estimated assessable profits and at 16.5% on the estimated assessable profits above HK$2 million.The Company’s subsidiaries operating in the PRC are subject to enterprise income tax in the PRC. The applicable enterprise income tax rate of the PRC is 25% in accordance with the relevant income tax law and regulations in the PRC for both years, except for those subsidiaries described below.Certain subsidiaries operating in the PRC fall within the Preferential Corporate Income Tax Catalogue in the specific zone. According to Cai Shui (2014) No.26, qualified companies in Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone are granted for a reduced enterprise income tax rate of 15% during the period from 1 January 2014 to 31 December 2020 and further granted for a reduced enterprise income tax rate of 15% starting from 1 January 2021 to 31 December 2025.153ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度14.所得稅開支（續）此外，於中國經營的若干附屬公司獲當地稅務機關認定為「文化創新企業」，已於當地稅務機關登記，可於二零一七年至二零二一年（包括首尾兩年）期間享有15%的減免企業所得稅稅率，已於二零二一年一月一日至二零二五年十二月三十一日進一步獲授15%的企業所得稅稅率。

因此，15%之稅率乃用於計算當期稅項之金額。

於其他司法權區產生的稅項乃按相關司法權區的現行稅率計算。

年內所得稅開支可與綜合損益及其他全面收益表的除稅前虧損對賬如下：14. INCOMETAXEXPENSE (Continued)Also, certain subsidiaries operating in the PRC were accredited as “Cultural Innovation Enterprise” by the local tax authorities and were registered with the local tax authorities to be eligible to the reduced 15% enterprise income tax rate for a period of four years from 2017 to 2021 inclusive and further granted enterprise income tax rate of 15% starting from 1 January 2021 to 31 December 2025. As a result, the tax rate of 15% is used to calculate the amount of current taxation.Taxation arising in other jurisdictions is calculated at the rates prevailing in the relevant jurisdictions.Income tax expense for the year can be reconciled to the loss before taxation per the consolidated statement of profit or loss and other comprehensive income as follows:20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務Loss before taxation from continuing operations來自持續經營業務之除稅前虧損(61,225) (53,434)Tax at the domestic income tax rate of 25%以國內所得稅稅率25%計算之稅項(15,306) (13,358)Tax effect of share of loss of joint ventures應佔合資企業虧損之稅務影響562295Tax effect of income not taxable for tax purpose就稅項而言毋須課稅收入之稅務影響(725) (450)Tax effect of expenses not deductible for tax purpose就稅項而言不可扣稅支出之稅務影響4,342751Tax effect of tax losses not recognised未確認稅項虧損之稅務影響7,16611,905Income tax at concessionary rate按優惠稅率計算之所得稅(51) 231Effect of different tax rates of subsidiaries operating in other jurisdictions於其他司法權區經營的附屬公司不同稅率的影響4,2613,698 Income tax expense for the year年內所得稅開支2493,072 China United Venture Investment Limited新華聯合投資有限公司154Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度14.所得稅開支（續）於二零二二年十二月三十一日，本集團若干附屬公司有未動用稅項虧損總額為107,023,000港元（二零二一年：81,793,000港元）可供抵銷未來溢利。

由於未能預計未來溢利收入，故並沒有確認此等稅項虧損之相關遞延稅項資產。

於二零二二年十二月三十一日，稅項虧損52,383,000港元（二零二一年：44,424,000港元）將於五年內到期。

15.年度（虧損）╱溢利14. INCOMETAXEXPENSE (Continued)At 31 December 2022, certa in subsid iar ies of the Group had aggregate unused tax losses of HK$107,023,000 (2021: HK$81,793,000) available for offset against future profits. No deferred tax assets has been recognised in respect of such tax losses due to unpredictability of future profit streams. As at 31 December 2022, tax losses of HK$52,383,000 (2021: HK$44,424,000) will be expired within 5 years.15. (LOSS)/PROFITFORTHEYEAR20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Continuing operations持續經營業務(Loss)/profit for the year has been arrived at after charging:年度（虧損）╱溢利乃經扣除下列各項後達致：Directors’ remuneration (note 11)董事酬金（附註11） 9,5366,294Other staff costs其他員工成本– Salaries and other benefits －薪金及其他福利63,71481,473– Retirement benefits scheme contributions－退休福利計劃供款6,5312,910 Total staff costs員工成本總額79,78190,677 Auditor’s remuneration核數師酬金1,1001,100Cost of inventories recognised as expenses確認為開支的存貨成本243,606302,767Depreciation of折舊– Property, plant and equipment －物業、廠房及設備4,2774,353– Right-of-use assets －使用權資產5,8373,054Amortisation of other intangible asset其他無形資產攤銷692 –Rental expenses for short-term leases短期租賃租金開支4,5931,961Provision of allowance for inventories (included in cost of sales and services rendered)存貨撥備（計入銷售及提供服務成本）1,5577,826Change in fair value of financial assets at fair value through profit or loss透過損益按公平值列賬之金融資產之公平值變動5,475 – 155ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度16.股息截至二零二二年十二月三十一日止年度並無派付或建議派付任何股息，自報告期末以來亦無建議派付任何股息（二零二一年：無）。

17.每股（虧損）╱盈利就持續經營業務及已終止經營業務而言本公司擁有人應佔來自持續經營業務及已終止經營業務的每股基本及攤薄盈利乃根據以下數據計算：（虧損）╱盈利股份數目由於截至二零二二年及二零二一年十二月三十一日止年度並無已發行潛在普通股，故並無呈列截至二零二二年及二零二一年十二月三十一日止年度的每股攤薄盈利。

16. DIVIDENDSNo dividend was paid or proposed during the year ended 31 December 2022, nor has any dividend been proposed since the end of the reporting period (2021: Nil).17. (LOSS)/EARNINGSPERSHAREFor continuing and discontinued operationsThe calculation of the basic and diluted earnings per share from continuing and discontinued operations attributable to owners of the Company is based on the following data:(Loss)/earnings20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元(Loss)/earnings for the purpose of basic and diluted earnings per share用於計算每股基本及攤薄盈利的（虧損）╱盈利(61,906) 49,989 Number of shares20222021二零二二年二零二一年’000 ’000千股千股Weighted average number of ordinary shares for the purpose of basic and diluted earnings per share用於計算每股基本及攤薄盈利的普通股加權平均數704,000704,000 No diluted earnings per share for the year ended 31 December 2022 and 2021 were presented as there were no potential ordinary shares outstanding in issue for the years ended 31 December 2022 and 2021.China United Venture Investment Limited新華聯合投資有限公司156Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度17.每股（虧損）╱盈利（續）就持續經營業務而言本公司擁有人應佔來自持續經營業務之每股基本及攤薄虧損乃根據以下數據計算：所使用的分母與上文所詳述用於計算每股基本及攤薄（虧損）╱盈利的分母相同。

就已終止經營業務而言於二零二一年，已終止經營業務的每股基本及攤薄盈利為每股15.09港仙，乃根據二零二一年已終止經營業務的年內溢利約106,232,000港元及上文詳述的每股基本及攤薄盈利的分母計算。

17. (LOSS)/EARNINGSPERSHARE (Continued)For continuing operationsThe calculation of the basic and diluted loss per share from continuing operations attributable to the owners of the Company is based on the following data:20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元(Loss)/profit for the year attributable to owners of the Company本公司擁有人應佔年內（虧損）╱ 溢利(61,906) 49,989Less: Profit for the year from discontinued operation減：來自已終止經營業務之年內溢利– (106,232) Loss for the purpose of basic and diluted per share from continuing operations用於計算來自持續經營業務的每股基本及攤薄虧損的虧損(61,906) (56,243) The denominators used are the same as those detailed above for both basic and diluted (loss)/earnings per share.For discontinued operationBas ic and d i lu ted earn ings per share for the discont inued operat ion are HK15.09 cents per share in 2021, based on the profit for the year f rom d iscont inued operat ion o f approx imate ly HK$106,232,000 in 2021 and the denominators detailed above for the basic and diluted earnings per share.157ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度18.物業、廠房及設備18. PROPERTY, PLANTANDEQUIPMENTBuildingsFurniture and fixturesOffice equipmentCompany equipment MachineryMotor vehicles Total房屋及建築物傢俬及裝置辦公室設備本公司設備機器設備運輸工具總計HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元千港元千港元千港元COST成本At 1 January 2021於二零二一年一月一日60,01831,9805,8363,17591,7481,224193,981Additions添置189 – – 2,9791,004 – 4,172Disposal of a subsidiary (note 38)出售一間附屬公司（附註38） (29,620) (2,957) (271) – (1,424) – (34,272)Exchange realignment匯兌調整1,5411476474433102,269 At 31 December 2021 and 1 January 2022於二零二一年十二月三十一日及二零二二年一月一日32,12829,1705,6296,22891,7611,234166,150Additions添置– 33802581,382 – 1,753Acquired on acquisition of subsidiaries (note 37)於收購附屬公司時獲得（附註37） – – – – – 7777Write-off撇銷– – – – (69) – (69)Exchange realignment匯兌調整(2,394) (357) (150) (264) (723) (1) (3,889) At 31 December 2022於二零二二年十二月三十一日29,73428,8465,5596,22292,3511,310164,022 ACCUMULATED DEPRECIATIONAND IMPAIRMENT累計折舊及減值At 31 December 2020 and 1 January 2021於二零二零年十二月三十一日及二零二一年一月一日19,51829,4994,0312,00687,2861,224143,564Provided for the year年內撥備1,3689064179761,327 – 4,994Eliminated on disposal of a subsidiary (note 38)出售一間附屬公司時撇銷（附註38） (8,955) (2,675) (271) – (1,350) – (13,251)Exchange realignment匯兌調整5751182043252101,018 At 31 December 2021 and 1 January 2022於二零二一年十二月三十一日及二零二二年一月一日12,50627,8484,1973,02587,5151,234136,325Provided for the year年內撥備8585874249251,473104,277Acquired on acquisition of subsidiaries (note 37)於收購附屬公司時獲得（附註37） – – – – – 6767Write-off撇銷– – – – (30) – (30)Exchange realignment匯兌調整(1,130) (184) (65) (234) (284) (3) (1,900) At 31 December 2022於二零二二年十二月三十一日12,23428,2514,5563,71688,6741,308138,739 CARRYINGVALUES賬面值At 31 December 2022於二零二二年十二月三十一日17,5005951,0032,5063,677225,283 At 31 December 2021於二零二一年十二月三十一日19,6221,3221,4323,2034,246 – 29,825 Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度China United Venture Investment Limited新華聯合投資有限公司158Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度18.物業、廠房及設備（續）本集團已抵押若干賬面淨值約8,637,000港元（二零二一年：9,892,000港元）的樓宇，以取得本集團銀行借款。

19.租賃(i)使用權資產使用權資產約4,442,000港元指位於中國的土地使用權（二零二一年：4,973,000港元）。

本集團租賃多間辦公室及工廠。

租賃合約通常為兩年的固定期限，但可能具有下文所述的延期選擇權。

本集團的若干物業及設備租賃包含延長及終止選擇權。

所持有延長及終止選擇權僅由本集團而非各出租人行使。

18. PROPERTY, PLANTANDEQUIPMENT (Continued)The Group has pledged certain buildings with a net book value of approximately HK$8,637,000 (2021: HK$9,892,000) to secure the bank borrowings of the Group.19. LEASES(i) Right-of-use assetsBuildingsLand use rights Total房屋及建築物土地使用權總計HK$’000 HK$’000 HK$’000千港元千港元千港元At 31 December 2020 and 1 January 2021於二零二零年十二月三十一日及二零二一年一月一日1,2127,6168,828Addition添置22,070 – 22,070Depreciation for the year年內折舊(2,900) (218) (3,118)Disposal of a subsidiary (note 38)出售一間附屬公司（附註38） – (2,624) (2,624)Exchange realignment匯兌調整286199485 At 31 December 2021 and 1 January 2022於二零二一年十二月三十一日及二零二二年一月一日20,6684,97325,641Addition添置4,686 – 4,686Depreciation for the year年內折舊(5,691) (146) (5,837)Exchange realignment匯兌調整(1,521) (385) (1,906) At 31 December 2022於二零二二年十二月三十一日18,1424,44222,584 Right-of-use assets of approximately HK$4,442,000 represents land use rights located in the PRC (2021: HK$4,973,000).The Group leases various offices and factories. Rental contracts are typically made for fixed periods of two years, but may have extension options as described below.Extension and termination options are included in a number of property and equipment leases across the Group. The extension and termination options held are exercisable only by the Group and not by the respective lessor.159ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度19.租賃（續）(i)使用權資產（續）本集團已抵押若干賬面淨值約3,915,000港元（二零二二年：4,374,000港元）的土地使用權，以取得本集團銀行借款。

(ii)租賃負債截至二零二二年十二月三十一日止年度，本集團就租賃樓宇訂立多項新租賃協議，並確認租賃負債約4,686,000港元（二零二一年：22,070,000港元）。

應用於租賃負債的加權平均增量利率介乎0.56%至8.30%（二零二一年：0.56%至5.81%）。

19. LEASES (Continued)(i) Right-of-use assets (Continued)The Group has pledged certain land use rights with net carrying amount of HK$3,915,000 (2022: HK$4,374,000) to secure the bank borrowings of the Group.(ii) Lease liabilities20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Current流動6,7565,497Non-current非流動12,98515,558 19,74121,055 20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Amounts payable under lease liabilities租賃負債項下應付金額Within one year一年內6,7565,497After one year but within two years一年後但兩年內5,9669,498After two years but within five years兩年後但五年內7,0196,060 Less: Amount due for settlement within 12 months (shown under current liabilities)減：12個月內到期結算的款項（於流動負債項下列示）(6,756) (5,497) Amount due for settlement after 12 months12個月後到期結算的款項12,98515,558 During the year ended 31 December 2022, the Group entered into a number of new lease agreements in respect of renting buildings and recognised lease liability of approximately HK$4,686,000 (2021: HK$22,070,000).The weighted average incremental rates applied to lease liabilities range from 0.56% to 8.30% (2021: from 0.56% to 5.81%).China United Venture Investment Limited新華聯合投資有限公司160Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度19.租賃（續）(iii)於損益中確認的金額(iv)其他截至二零二二年十二月三十一日止年度，租賃的現金流出總額為10,315,000港元（二零二一年：5,322,000港元）。

20.投資物業19. LEASES (Continued)(iii) Amount recognised in profit or loss20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Depreciation charge of right-of-use assets使用權資產折舊費用Buildings房屋及建築物5,6912,900Land use rights土地使用權146218 Total總計5,8373,118Interest expense on lease liabilities租賃負債利息開支1,284839Expenses related to short-term leases與短期租賃相關的開支4,5931,961 (iv) OthersDuring the year ended 31 December 2022, the total cash outflow for leases amount to HK$10,315,000 (2021: HK$5,322,000).20. INVESTMENTPROPERTIESHK$’000千港元Fair value公平值At 1 January 2021於二零二一年一月一日14,250Decrease in fair value recognised in profit or loss於損益確認之公平值減少(750) At 31 December 2021 and IJanuary 2022於二零二一年十二月三十一日及二零二二年一月一日13,500Decrease in fair value recognised in profit or loss於損益確認之公平值減少(800) At 31 December 2022於二零二二年十二月三十一日12,700 161ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度20.投資物業（續）本集團投資物業於二零二二年及二零二一年十二月三十一日的公平值乃基於與本集團並無關連的獨立合資格專業估值師第一太平戴維斯估值及專業顧問有限公司於該日進行的估值得出。

公平值乃採用直接比較法，假設出售物業於其各自現狀並透過參考市場可得之可資比較銷售憑證而釐定。

於過往年度採用之估值方法概無變動。

於估計物業之公平值時，物業之最高及最佳用途為目前用途。

本集團以經營租約持有以賺取租金或資本增值的所有物業權益均歸類及列賬為投資物業，並採用公平值模式計算。

用直接比較法並根據該地區可比較物業的近期銷售額使用銷售比較法對物業進行估值。

該方法的主要輸入為基於該地區相當數量之物業的當年銷售額（位置及大小）得出的按實用面積計算的每平方英尺價格，此將最大限度地利用可觀察的市場數據並盡可能減少對特定實體估計的依賴。

截至二零二二年十二月三十一日止年度，並無轉入或轉出第二級或任何其他層級（二零二一年：第二級）。

於過往年度採用之估值方法概無變動。

於初步確認後按公平值計量之本集團投資物業（根據公平值計量輸入數據之可觀察程度分為公平值層級第一至第三級）之分析如下：20. INVESTMENTPROPERTIES (Continued)The fair value of the Group’s investment properties at 31 December 2022 and 2021 have been arrived at on the basis of a valuation carried out on that date by Savills Valuation and Professional Services Limited, an independent qualif ied professional valuer not connected with the Group.The fair value was determined using direct comparison approach assuming sales of the properties in their respective existing status and by making reference to comparable sales evidences as available on the market. There has been no change from the valuation technique used in the prior year. In estimating the fair value of the properties, the highest and best use of the properties is their current use.All of the Group’s property interests held under operat ing leases to earn rentals or for capita l appreciation purposes are measured using the fair value model and are classified and accounted for as investment properties.The p roper t i es were va lued us ing the d i rec t comparison method using the sales comparison approach based on recent sales of comparable properties in the area. The key input under this approach are the price per square feet on saleable floor area basis from current year sales of comparable lots of properties in the area (location and size) and which maximise the use of observable market data and rely as little as possible on entity-specific estimates. During the year ended 31 December 2022, there were no transfers into or out of level 2 or any other level (2021: level 2).There has been no change from the valuat ion technique used in the prior year.An analysis of the Group’s investment properties that are measured subsequent to initial recognition at fair value, grouped into fair value hierarchy Levels 1 to 3 based on the degree to which the inputs to fair value measurements is observable is as follows:China United Venture Investment Limited新華聯合投資有限公司162Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度20.投資物業（續）於二零二二年及二零二一年十二月三十一日，本集團投資物業的詳情及有關公平值層級的資料如下：21.於合資企業的投資20. INVESTMENTPROPERTIES (Continued)Details of the Group’s investment properties and information about the fair value hierarchy as at 31 December 2022 and 2021 are as follows:Level 2Fair value as at 31/12/2022第二級於二零二二年十二月三十一日之公平值HK$’000 HK$’000千港元千港元Commercial properties units located in Hong Kong位於香港之商用物業單位12,70012,700 Level 2Fair value as at 31/12/2021第二級於二零二一年十二月三十一日之公平值HK$’000 HK$’000千港元千港元Commercial properties units located in Hong Kong位於香港之商用物業單位13,50013,500 21. INVESTMENTINJOINTVENTURES20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Cost of investment in joint ventures於合資企業的投資成本55Share of post-acquisition (loss) profit and other comprehensive (expense) income應佔收購後（虧損）溢利及其他全面（開支）收益(5) 3,400 – 3,405 163ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度21.於合資企業的投資（續）於二零一七年一月十一日，本公司全資附屬公司柏濤設計國際有限公司（「柏濤設計國際」）與獨立第三方就成立柏濤品林（中國）（一間於香港註冊成立之公司，其已發行股本為10,000港元）訂立協議。

柏濤設計國際認購柏濤品林（中國）的5,100股普通股，佔全部已發行股本的51%。

完成注資後，本集團持有柏濤品林（中國）51%股權。

柏濤品林（中國）董事會中兩名擁有表決權的董事之一，其中有關柏濤品林（中國）相關業務的決策須得到柏濤設計國際及其他股東的董事的一致同意。

就此，於柏濤品林（中國）的投資以本集團合資企業入賬。

同時，柏濤品林（中國）在中國成立了全資附屬公司柏濤品林（上海）建築設計諮詢有限公司（「柏濤品林（上海）建築設計」）。

因此，本集團間接擁有該公司51%的權益。

於二零二二年及二零二一年十二月三十一日，本集團於下列重大合資企業擁有權益：*英文名稱僅供識別。

21. INVESTMENTINJOINTVENTURES (Continued)On 11 January 2017, PTDesign International Limited (“PTDesign International”), a wholly-owned subsidiary of the Company and an independent third party entered into an agreement for the establishment of PT & PLChina, a Hong Kong incorporated company with issued share capital of HK$10,000. PTDesign International subscribed for 5,100 ordinary shares in PT & PLChina, representing 51% of the entire issued share capital. Upon the completion of the capital contribution, the Group holds 51% equity interest in PT & PLChina. The Group has the right to appoint one out of two voting directors in the Board of Directors of PT & PLChina in which the decisions about the relevant activities of PT & PLChina require the unanimous consent of the director from both PT Design International and the other shareholder. In this regard, the investment in PT & PLChina is accounted for as joint venture of the Group. At the same time, PT & PLChina formed a wholly owned subsidiary in the PRC, PT & PLArchitectural Design. Hence, the Group indirectly owned 51% equity interest in this company.As at 31 December 2022 and 2021, the Group had interests in the following material joint ventures:Name of entityForm of entityPlace of incorporation/registrationPrincipal place of businessClass of shares heldProportion of ownership interest held by the GroupProportion of voting rights held by the Group Principal activity實體名稱實體形式註冊成立/登記地點主要營業地點持有股份類別本集團所持之擁有權權益比例本集團所持之表決權比例主要業務2022202120222021二零二二年二零二一年二零二二年二零二一年PT & PLChina (柏濤品林（中國）有限公司)Incorporated Hong Kong Hong Kong Ordinary 51% 51% 50% 50% Provision of comprehensive architectural services柏濤品林（中國）註冊成立香港香港普通股提供全面建築服務PT & PLArchitectural Design* (柏濤品林（上海）建築設計諮詢有限公司)Incorporated PRCPRCOrdinary 51% 51% 50% 50% Provision of comprehensive architectural services柏濤品林（上海）建築設計註冊成立中國中國普通股提供全面建築服務* English name for identification purpose only.China United Venture Investment Limited新華聯合投資有限公司164Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度21.於合資企業的投資（續）有關對本集團而言屬重大並採用權益法入賬之本集團合資企業之財務資料概要載列如下。

21. INVESTMENTINJOINTVENTURES (Continued)The summarised financial information in respect of the Group’s joint ventures that is material to the Group and are accounted for using equity method is set out below.31/12/202231/12/2021二零二二年十二月三十一日二零二一年十二月三十一日HK$’000 HK$’000千港元千港元PT & PLChina柏濤品林（中國）Current assets流動資產35,48342,821 Non current assets非流動資產225154 Current liabilities流動負債(36,262) (36,299) Net (liabilities)/assets （負債）╱資產淨值(554) 6,676 Year ended 31/12/2022Year ended 31/12/2021截至二零二二年十二月三十一日止年度截至二零二一年十二月三十一日止年度HK$’000 HK$’000千港元千港元Revenue收入5,84837,748 Loss for the year年內虧損(7,111) (3,508) Other comprehensive (expense)/income其他全面（開支）╱收益(119) 9 Total comprehensive expense全面開支總額(7,230) (3,499) 165ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度21.於合資企業的投資（續）上述財務資料概要與於綜合財務報表內確認的於一間合資企業的投資之賬面值之對賬如下：本集團於應用權益法時已終止確認其應佔合資企業的虧損。

本年度及累計未確認應佔合資企業份額載列如下：21. INVESTMENTINJOINTVENTURES (Continued)The reconciliation of the above summarised financial information presented above to the carrying amount of the investment in the joint venture is set out as below:20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Net (liabilities)/assets of the joint venture合資企業之（負債淨額）╱資產淨值(554) 6,676Proportion of the Group’s ownership interest in PT & PLChina本集團於柏濤品林（中國）之擁有權權益比例51% 51% Carrying amount of the Group’s interest in PT & PLChina本集團於柏濤品林（中國）之權益之賬面值– 3,405 The Group has ceased recognising its share of losses of the joint ventures when applying the equity method. The unrecognised share of the joint ventures, both for the year and cumulatively, are set out below:Year ended 31/12/2022Year ended 31/12/2021截至二零二二年十二月三十一日止年度截至二零二一年十二月三十一日止年度HK$’000 HK$’000千港元千港元Unrecognised share of losses of joint ventures for the year本年度未確認應佔合資企業虧損282 – 31/12/202231/12/2021二零二二年十二月三十一日二零二一年十二月三十一日HK$’000 HK$’000千港元千港元Accumulated unrecognised share of losses of joint venture累計未確認應佔合資企業虧損282 – China United Venture Investment Limited新華聯合投資有限公司166Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度22.按公平值計入損益之金融資產附註：(i)截至二零二二年十二月三十一日止年度，本集團以總代價約3,135,000港元（二零二一年：零）投資非上市投資。

本集團持有非上市投資以收取其合約現金流量，而該等現金流量並非僅為支付本金及未償還本金的利息以及出售該等金融資產。

因此，非上市投資分類為透過損益按公平值列賬的金融資產。

截至二零二二年十二月三十一日止年度，該等投資的公平值虧損約3,088,000港元（二零二一年：零）已於損益確認。

於二零二二年十二月三十一日，該等非上市投資的公平值約為47,000港元（二零二一年：零）。

(ii)截至二零二二年十二月三十一日止年度，本集團持有保寶龍科技控股有限公司（「保寶龍」）的已發行股本。

截至二零二一年及二零二二年十二月三十一日止年度，概無宣派及收取任何股息。

截至二零二二年十二月三十一日止年度，該等投資的公平值虧損約2,387,000港元（二零二一年：零）已於損益確認。

於二零二二年十二月三十一日，於保寶龍股份的投資市值為1,905,000港元（二零二一年：零）。

22. FINANCIALASSETSATFAIRVALUE THROUGHPROFITORLOSS20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Financial assets measured at FVTPL:按公平值計入損益計量之金融資產：Unlisted investments (Note (i))非上市投資（附註(i)） 47 –Listed securities held for trading:持作買賣之上市證券：– Equity securities listed in Hong Kong (Note (ii))－於香港上市之股本證券（附註(ii)） 1,905 – 1,952 – Notes:(i) During the year ended 31 December 2022, the Group invested unlisted investments at an aggregate consideration of approximately HK$3,135,000 (2021: nil). The unlisted investments are held by the Group to collect their contractual cash flows which are not solely payments of principal and interest on the principal amount outstanding and to sell these financial assets. Accordingly, the unlisted investments are classified as financial assets at FVTPL.During the year ended 31 December 2022, the fair value loss of such investments is approximately HK$3,088,000 (2021: nil) have been recognised in profit or loss. As at 31 December 2022, the fair value of such unlisted investments is approximately HK$47,000 (2021: nil).(ii) During the year 31 December 2022, the Group held issued share capital of Precious Dragon Technology Holdings Limited (“Precious Dragon”). No dividend was declared and received during the years ended 31 December 2021 and 2022. During the year ended 31 December 2022, the fair value loss of such investments is approximately HK$2,387,000 (2021: nil) have been recognised in profit or loss. As at 31 December 2022, the market value of the investment in the shares of Precious Dragon was HK$1,905,000 (2021: nil).167ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度23.其他無形資產有關本集團因業務合併而產生的客戶關係的進一步詳情載於附註37。

24.商譽截至二零二二年十二月三十一日止年度，本集團以總代價3,764,000港元收購五間財務顧問服務公司。

可識別財務顧問服務合約及客戶關係1,780,000港元確認為無形資產。

購買代價超出所收購可識別資產淨值的差額550,000港元確認為商譽。

就商譽減值評估而言，商譽的賬面值分配至預期受益於業務合併協同效應的相關現金產生單位或現金產生單位組別。

23. OTHERINTANGIBLEASSETCustomers relationship客戶關係HK$’000千港元COST成本At 1 January 2022於二零二二年一月一日–Acquired on acquisition of subsidiaries (note 37)於收購附屬公司時獲得（附註37）1,780 ACCUMULATEDAMORTISATIONAND IMPAIRMENT累計攤銷及減值Provided for the year年內計提撥備(692) CARRYINGVALUES賬面值At 31 December 2022於二零二二年十二月三十一日1,088 Further details of the Group’s customer relationship arising from business combination are set out in note 37.24. GOODWILLFinancial services金融服務HK$’000千港元COSTANDCARRYINGVALUES成本及賬面值At 1 January 2022於二零二二年一月一日–Acquired on acquisition of subsidiaries (note 37)於收購附屬公司時獲得（附註37）550 At 31 December 2022於二零二二年十二月三十一日550 During the year ended 31 December 2022, the Group acquired 5 financial advisory services companies for a total consideration of HK$3,764,000. Identifiable financial advisory services contracts and customer re lat ionship of HK$1,780,000 were recognised as intangible asset. The excess of the purchase consideration over the net identifiable assets acquired of HK$550,000 was recognised as goodwill.For the purpose of goodwill impairment testing, the carrying value of goodwill is allocated to the related CGU or groups of CGUs which are expected to benefit from the synergies of the business combination.China United Venture Investment Limited新華聯合投資有限公司168Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度24.商譽（續）現金產生單位或現金產生單位組別的可收回金額為資產公平值減出售成本與預期自資產產生的未來現金流量現值兩者中的較高者。

倘公平值減出售成本及預期來自資產的未來現金流量現值高於賬面值，則不會確認現金產生單位或一組現金產生單位的相應減值虧損。

根據管理層的評估，於二零二二年十二月三十一日並無確認商譽減值撥備。

使用價值計算已由獨立專業估值師匯辰評估諮詢有限公司審閱。

計算中使用的關鍵假設載列如下：－稅前貼現率49.2%；－收入增長率0%至5%不等；及－終端增長率為2%。

分配至上述關鍵假設的價值與外部來源一致。

25.應收貸款24. GOODWILL (Continued)The recoverable amount of a CGU or a group of CGUs is the higher of an asset’s fair value less costs to sell and the present value of the future cash flows expected to be derived from the asset. The corresponding impairment loss of a CGU or a group of CGUs will not be recognised if either the fair value less costs to sell and the present value of the future cash flows expected to be derived from the asset is higher than the carrying value.Based on management’s assessment, no impairment provis ion of goodwil l was recognised as at 31 December 2022.The value-in-use calculation has been reviewed by Royson Valuation Advisory Limited, an independent professional valuer. The key assumptions used in the calculation are set out below:– pre-tax discount rate of 49.2%;– revenue growth rate range of 0% to 5%; and– terminal growth rate of 2%.The values assigned to the above key assumptions are consistent with external sources.25. LOANRECEIVABLESMaturity dateEffective interest rate 20222021到期日期實際利率二零二二年二零二一年HK$’000 HK$’000千港元千港元RMB5,000,000 fixed-rate loan receivables24 June 20256% 5,544 –人民幣5,000,000元定息應收貸款二零二五年六月二十四日RMB15,067,260 fixed-rate loan receivables (note 27)31 December 20235% 16,620 –人民幣15,067,260元定息應收貸款（附註27）二零二三年十二月三十一日Analysed as分析為Non-current 5,544 –非流動Current 16,620 –流動22,164 –169ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度25.應收貸款（續）於二零二二年十二月三十一日，應收貸款的賬面值包括累計減值虧損約470,000港元（二零二一年十二月三十一日：無）。

有關減值評估的詳情載於附註40(b)。

26.存貨於二零二二年十二月三十一日，本集團存貨的賬面值已扣除撥備約12,652,000港元（二零二一年：11,095,000港元）。

截至二零二二年十二月三十一日止年度，本集團確認若干滯銷存貨撥備約1,557,000港元（二零二一年：存貨撥備約7,826,000港元），並計入銷售成本。

25. LOANRECEIVABLES (Continued)Included in the carrying amount of loans receivables as at 31 December 2022 is accumulated impairment loss of approximately HK$470,000 (31 December 2021: Nil).Details of impairment assessment are set out in note 40(b).26. INVENTORIES20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Raw materials and consumables原材料及消耗品7,31518,541Work in progress在建工程7,57318,496Finished goods製成品19,47921,094 34,36758,131 As at 31 December 2022, the carrying amounts of the Group’s inventories are net of allowance of approximately HK$12,652,000 (2021: HK$11,095,000).During the year ended 31 December 2022, the Group recognised an provision of allowance on certain slow moving inventories of approximately HK$1,557,000 (2021: provision of inventories of approximately HK$7,826,000) and included in cost of sales.China United Venture Investment Limited新華聯合投資有限公司170Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度27.貿易及其他應收賬款27. TRADEANDOTHERRECEIVABLES20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Receivables at amortised cost comprise:按攤銷成本計量的應收款項包括：Trade receivables貿易應收賬款– sales of connectivity products －銷售接駁產品45,61383,011– provision of comprehensive architectural services－提供全面建築服務10,5859,157– financial services －金融服務677 – 56,87592,168Less: allowance for impairment of trade receivables減：貿易應收賬款減值撥備(11,189) (7,588) 45,68684,580 Loan receivables (Note a)應收貸款（附註a） 16,994 –Less: allowance for impairment of loan receivables減：應收貸款減值撥備(374) – 16,620 – Prepayments預付款項13,04214,695Refundable rental deposits可退還租賃按金3,6702,806Value-added tax receivables應收增值稅3,57712,465Receivable from the sale proceed of disposal of a subsidiary出售一間附屬公司之銷售所得款項之應收款項– 61,105Amount due from related parties (Note b)應收關聯方款項（附註b）14,099 –Amount due from a joint venture (Note c)應收一間合資企業款項（附註c）87Others (Note d)其他（附註d） 8,11422,945 42,510114,023Less: allowance for impairment of other receivables減：其他應收賬款減值撥備(613) (1,389) 41,897112,634 104,203197,214 171ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度27.貿易及其他應收賬款（續）附註：(a)賬面值約16,620,000港元（扣除累計虧損撥備374,000港元）指向獨立第三方墊款，預期將於12個月內結算。

該金額為無抵押及按年利率5%計息。

(b)賬面值約13,800,000港元（扣除累計虧損撥備299,000港元）指向一間關連公司中信國通企業管理有限公司（「中信」）墊款。

本公司董事黃斌先生及倪弦先生。

該款項預期將於12個月內結算，為無抵押及免息。

(c)該金額為無抵押、免息及須按要求償還。

(d)截至二零二一年十二月三十一日止年度，計入其他的金額約18,098,000港元（扣除累計虧損撥備321,000港元）指向獨立第三方作出的墊款，預期將於12個月內結算。

該金額為無抵押及免息。

*英文名稱僅供識別於二零二二年十二月三十一日，來自客戶合約之貿易應收賬款總額約為56,875,000港元（二零二一年：92,168,000港元）。

就銷售接駁產品而言，本集團給予其貿易客戶之平均信貸期介乎15至120日（二零二一年：15至120日）。

就提供全面建築服務而言，本集團並無向其客戶授予標準且劃一的信貸期。

授予個別客戶的信貸期一般為90日內，本集團根據客戶的信譽及聲譽以及項目合約所規定按個別情況考慮。

27. TRADEANDOTHERRECEIVABLES (Continued)Notes:(a) The carrying amount of approximately HK$16,620,000 net of accumulated loss allowance of HK$374,000 represents the advance to independent third parties and expected to be settled within 12 months. The amount is unsecured and carries interest at 5% per annual.(b) The carrying amount of approximately HK$13,800,000 net of accumulated loss allowance of HK$299,000 represents the advance to a related company – CITICGuotong Enterprise Management Co., Ltd.* (“CITIC”) (中信國通企業管理有限公司). Mr. Huang Bin and Mr. Ni Xian, being the directors of the Company. The amount is expected to be settled within 12 months, unsecured and interest-free.(c) The amount is unsecured, interest-free and repayable on demand.(d) For the year ended 31 December 2021, the amount of approximately HK$18,098,000 net of accumulated loss allowance of HK$321,000 included in others represents the advance to the independent third parties and is expected to be settled within 12 months. The amount is unsecured and interest-free.* English name for identification purpose onlyAs at 31 December 2022, the gross amount of trade receivables arising from contracts with customers amounted to approximately HK$56,875,000 (2021: HK$92,168,000)For the sales of connectivity products, the Group allows an average credit period ranging from 15 to 120 days (2021: 15 to 120 days) to its trade customers.As for the provision of comprehensive architectural services, the Group does not have a standardised and universal credit period granted to its customers. The credit period granted to individual customer is within 90 days in general, which the Group considered on a case-by-case basis, depending on the credibility and reputation of the customers and as stipulated in the project contract.China United Venture Investment Limited新華聯合投資有限公司172Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度27.貿易及其他應收賬款（續）以下為於報告期末按發票日期呈列的貿易應收賬款（扣除貿易應收賬款減值撥備）的賬齡分析。

有關減值評估的詳情載於附註40(b)。

28.合約資產於二零二一年一月一日，合約資產為3,052,000港元。

27. TRADEANDOTHERRECEIVABLES (Continued)The following is an aged analysis of trade receivables net of allowance for impairment of trade receivables, presented based on the invoice dates, at the end of the reporting period.20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元0–30 days 0至30日42,89532,74231–120 days 31至120日1,83945,610121–180 days 121至180日1016,090Over 180 days超過180日851138 45,68684,580 Details of impairment assessment are set out in Note 40(b).28. CONTRACTASSETS20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Provision of comprehensive architectural services提供全面建築服務4,9965,266 As at 1 January 2021, contract assets amounted to HK$3,052,000.173ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度28.合約資產（續）合約資產主要有關本集團就已完成及未開票工程收取代價的權利，原因為有關權利取決於本集團於報告日期達成全面建築服務指定里程碑的未來表現。

於有關權利成為無條件時，合約資產轉撥至貿易應收賬款。

本集團通常於達到特定里程碑時，將合約資產轉撥至貿易應收賬款。

本集團將該等合約資產分類為流動，原因為本集團預期於一般營運週期內變現該等資產。

截至二零二二年十二月三十一日止年度，約122,000港元（二零二一年：5,000港元）確認為合約資產預期信貸虧損撥備。

有關減值評估的詳情載於附註40(b)。

29.現金及等同現金項目現金及等同現金項目包括原到期日為六個月或以下之短期銀行存款6,786,000港元（二零二一年：三個月或以下52,000港元）按固定年利率介乎1.25%至3.60%（二零二一年：0.32%至0.66%）計息及銀行結餘99,604,000港元（二零二一年：83,606,000港元）按浮動年利率介乎0.25%至0.625%（二零二一年：0.01%至0.30%）計息及現金結餘94,000港元（二零二一年：474,000港元）。

銀行結餘及短期銀行存款的減值詳情載於附註40(b)。

28. CONTRACTASSETS (Continued)The contract assets primarily relate to the Group’s right to consideration for work completed and not billed because the rights are conditioned on the Group’s future performance in achieving specified milestones at the reporting date on the comprehensive architectural services. The contract assets are transferred to trade receivables when the rights become unconditional. The Group typically transfer contract assets to trade receivables upon achieving the specified milestones in the contracts.The Group classifies these contract assets as current because the Group expects to realise them in its normal operating cycle.During the year ended 31 December 2022, approximately HK$122,000 (2021: HK$5,000) is recognised as provision for expected credit losses on contract assets. Details of impairment assessment are set out in Note 40(b).29. CASHANDCASHEQUIVALENTSCash and cash equivalent comprise short-term bank deposits with the original maturity of six months or less of HK$6,786,000 (2021: 3 months or less of HK$52,000) at fixed interest rates ranging from 1.25% to 3.60% (2021: 0.32% to 0.66%) per annum and bank ba lances o f HK$99,604,000 (2021: HK$83,606,000) at variable interest rates with effective interest rates ranging from 0.25% to 0.625% (2021: 0.01% to 0.30%) per annum and cash balances of HK$94,000 (2021: HK$474,000).Detail of impairment of bank balances and short-term bank deposits are set out in note 40(b).China United Venture Investment Limited新華聯合投資有限公司174Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度30.貿易及其他應付賬款附註：(a)於二零二二年十二月三十一日的貿易應付賬款金額中，約772,000港元（二零二一年：838,000港元）為應付關聯公司柏濤建築設計（深圳）有限公司（「柏濤深圳」）的款項。

董事及股東王漓峰先生於柏濤深圳擁有17.5%（二零二一年：27.6%）間接股權。

(b)該金額為無抵押、免息及須按要求償還。

(c)應付關連公司柏濤深圳款項。

董事及股東王漓峰先生於柏濤深圳擁有17.5%（二零二一年：27.6%）間接股權。

該金額為無抵押、免息及須按要求償還。

(d)於二零二一年，其他包括應付東莞亞聯的款項約4,892,000港元（二零二一年：14,140,000港元），東莞亞聯已於二零二一年獲出售。

*英文名稱僅供識別30. TRADEANDOTHERPAYABLES20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Trade payables (Note a)貿易應付賬款（附註a） 38,73367,991Staff salaries and welfare payables應付員工薪金及福利6,81715,016Refundable rental deposits可退還租賃按金298323Value-added tax and other tax payables增值稅及其他應付稅項– 855Accrued operating expenses應計經營開支17,50935,053Amount due to a director (Note b)應付一名董事款項（附註b） 210 –Amount due to a related company (Note c)應付一間關聯公司款項（附註c）267 –Others (Note d)其他（附註d） 7,57717,950 71,411137,188 Notes:(a) Included in the amount of trade payables as at 31 December 2022, approximately HK$772,000 (2021: HK$838,000) represented the amount due to a related company – Architecture Design (Shenzhen) Company Limited (“PT Shenzhen”)* (柏濤建築設計（深圳）有限公司). Mr. Wang Li Feng, a director and a shareholder has an indirect equity interest of 17.5% (2021: 27.6%) in PTShenzhen.(b) The amount is unsecured, interest-free and repayment on demand.(c) The amount due to a related company – PTShenzhen. Mr. Wang Li Feng, a director and a shareholder has an indirect equity interest of 17.5% (2021: 27.6%) in PTShenzhen. The amount is unsecured, interest-free and repayment on demand.(d) Included in the others in 2021, approximately HK$4,892,000 (2021: HK$14,140,000) represents the amount due to Dongguan Asia-Link, which was disposed in 2021.* English name for identification purpose only175ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度30.貿易及其他應付賬款（續）以下為於報告期末按發票日期呈列的貿易應付賬款的賬齡分析。

本集團於兩個年度獲貿易供應商給予之平均信貸期介乎30至150日。

31.合約負債30. TRADEANDOTHERPAYABLES (Continued)The following is an aged analysis of trade payables presented based on the invoice date at the end of the reporting period.20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Trade payables貿易應付賬款Within 30 days 30日內13,19033,16931–90 days 31至90日13,51423,28990–150 days 90至150日4,1784,363Over 150 days超過150日7,8517,170 38,73367,991 The Group has been granted an average credit period ranging from 30 to 150 days from its trade suppliers for both years.31. CONTRACTLIABILITIES20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Sales of connectivity products銷售接駁產品2,7931,645Provision of comprehensive architectural services提供全面建築服務21418 Total總計3,0071,663 20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Current流動3,0071,663 China United Venture Investment Limited新華聯合投資有限公司176Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度31.合約負債（續）於二零二一年一月一日，合約負債為1,556,000港元。

合約負債包括(i)為交付接駁產品而收取的墊款及(i i)為提供全面建築服務而收取的墊款。

就銷售接駁產品而言，於截至二零二二年十二月三十一日止年度確認並計入年初合約負債之收入為901,000港元（二零二一年：419,000港元）。

32.銀行及其他借款31. CONTRACTLIABILITIES (Continued)As at 1 January 2021, contract liabilities amounted to HK$1,556,000.The contract liabilities include (i) advances received to deliver the connectivity products and (ii) advances received to render comprehensive architectural services.Revenue recognised dur ing the year ended 31 December 2022 that was included in the contract liabilities at the beginning of the year is HK$901,000 (2021: HK$419,000) in respect of sales of connectivity products.32. BANKANDOTHERBORROWINGS20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Bank borrowings銀行借款41,42843,127Loans from a related party關聯方貸款2,188 –Other borrowings其他借款36,6248,548 80,24051,675 20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Analysed as:分析為：Secured有抵押41,42843,127Unsecured無抵押38,8128,548 80,24051,675 177ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度32.銀行及其他借款（續）*到期金額乃根據貸款協議所載的計劃還款日期計算。

本集團貸款的實際利率（亦等於合約利率）範圍載列如下：32. BANKANDOTHERBORROWINGS (Continued)20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Carrying amounts repayable*:須於下列期間償還的賬面值*：On demand or within one year按要求或於一年內70,31451,675After one year but within two years一年至兩年1,354 –After two year but within five years兩年至五年8,572 – 80,24051,675 * The amounts due are based on scheduled repayment dates set out in the loan agreements.20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Amount shown under current liabilities列作流動負債金額70,31451,675Amount shown under non-current liabilities列作非流動負債金額9,926 – 80,24051,675 20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Fixed-rate borrowings定息借款68,96151,675Variable-rate borrowings浮息借款11,279 – 80,24051,675 The ranges of effective interest rates (which are also equal to contracted interest rates) on the Group’s borrowings are as follows:20222021二零二二年二零二一年Fixed-rate borrowings定息借款2.00% to 4.20%2.90% to 18.00%2.00%至4.20% 2.90%至18.00%Variable-rate borrowings浮息借款4.60% – China United Venture Investment Limited新華聯合投資有限公司178Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度32.銀行及其他借款（續）本集團以有關集團實體功能貨幣以外之貨幣列值之銀行及其他借款載列如下：銀行借款約7,000,000港元（二零二一年：7,045,000港元）乃由本公司附屬公司輝煌電子有限公司提供擔保。

銀行借款34,428,000港元（二零二一年：23,851,000港元）乃以本公司賬面淨值分別為3,915,000港元（二零二一年：4,374,000港元）及8,637,000港元（二零二一年：9,892,000港元）的土地及樓宇作抵押。

有關銀行借款乃用於為未來發展項目提供資金。

截至二零二二年十二月三十一日止年度，其他借款約36,624,000港元乃自一間關連公司借入。

本集團已與本集團非執行董事間接擁有的金石投資管理有限公司（「金石」）簽署兩份合約。

金石(i)由本公司非執行董事黃斌先生間接擁有60%；及( i i )由中信國際資產管理有限公司（「中信國際資產管理」）間接擁有40%。

中信國際資產管理為一間於香港註冊成立的有限公司，為中信國際金融控股有限公司（「中信國際金融控股」）的非全資附屬公司。

中信國際資產管理主要從事股權投資及資產管理。

本金乃於年內借出，且已於12個月內償還。

32. BANKANDOTHERBORROWINGS (Continued)The Group’s bank and other borrowings that are denominated in currencies other the funct ional currencies of the relevant group entities are set out below:20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元HK$港元43,62415,593RMB人民幣36,61636,082 80,24051,675 The bank borrowing of approximately HK$7,000,000 (2021: HK$7,045,000) is guaranteed by a subsidiary of the Company – Glory Mark Electronic Limited.The bank borrowings of HK$34,428,000 (2021: HK$23,851,000) is secured by the Company’s land and buildings with aggregate net carrying amount o f HK$3,915,000 (2021: HK$4,374,000 ) and HK$8,637,000 (2021: HK$9,892,000) respectively. The bank borrowing is used to finance the future development project.For the year ended 31 December 2022, the other borrowings of approximately HK$36,624,000 are borrowed from a re lated company. The Group has signed two contracts Goldstone Investment Management Limited (“Goldstone”), indirectly owned by the non-executive director of the Group.Goldstone is indirectly owned as to 60% by Mr. Huang Bin, the non-executive Director of the Company; and (ii) indirectly owned as to 40% by CITICInternational Assets Management Limited (中信國際資產管理有限公司) (“CIAM”). CIAM is a company incorporated in Hong Kong with limited liability and is a non wholly-owned subsidiary of CITICInternational Financial Holdings Limited (中信國際金融控股有限公司) (“CIFH”). CIAM is principally engaged in equity investment and asset management. The principal was lent during the year and repayment was made within 12 months.179ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度33.遞延稅項負債34.股本33. DEFERREDTAXLIABILITYAmortisation of intangibles assets無形資產攤銷HK$’000千港元At 1 January 2022於二零二二年一月一日–Acquired on acquisition of subsidiaries (note 37)收購附屬公司所得（附註37）445 At 31 December 2022於二零二二年十二月三十一日445 34. SHARECAPITALNumber of sharesShare capital股份數目股本’000 HK$’000千股千港元Ordinary share of HK$0.01 each每股面值0.01港元之普通股Authorised:法定：At 1 January 2021, 31 December 2021, 1 January 2022 and 31 December 2022於二零二一年一月一日、二零二一年十二月三十一日、二零二二年一月一日及二零二二年十二月三十一日10,000,000100,000 Issued and fully paid:已發行及繳足：At 1 January 2021, 31 December 2021, 1 January 2022 and 31 December 2022於二零二一年一月一日、二零二一年十二月三十一日、二零二二年一月一日及二零二二年十二月三十一日704,0007,040 China United Venture Investment Limited新華聯合投資有限公司180Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度35.經營租約本集團為出租人本集團根據經營租賃出租投資物業及樓宇。

租賃的初始期限一般為2至3年，並可選擇在該日之後重續租賃，屆時會重新磋商所有條款。

租賃付款一般每2至3年增加一次，以反映市場租金。

概無任何租賃包括可變租賃付款。

於報告日期已生效的不可撤銷經營租賃項下的未貼現租賃付款將於未來期間由本集團收取，詳情如下：36.退休福利計劃本集團分別為香港及台灣所有合資格僱員提供強制性公積金計劃及退休福利計劃。

該等計劃之資產由受託人控制之基金持有，獨立於本集團之資產。

本集團與僱員各自須分別按僱員有關薪酬的5%及6%向強制性公積金計劃及定額供款退休福利計劃供款。

35. OPERATINGLEASINGARRANGEMENTSThe Group as lessorThe Group leases out investment properties and buildings under operating leases. The leases typically run for an initial period of 2-3 years, with an option to renew the lease after that date at which time all terms are renegotiated. Lease payments are usually increased every 2-3 years to reflect market rentals. None of the leases includes variable lease payments.Undiscounted lease payments under non-cancellable operating leases in place at the reporting date will be receivable by the Group in future periods as follows:20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Within one year一年內1,2362,223After 1 year but within 2 years一年後但兩年內2201,087After 2 years but within 3 years兩年後但三年內220 – 1,6763,310 36. RETIREMENTBENEFITSPLANSThe Group operates a Mandatory Provident Fund Scheme and a retirement benefit scheme for all qualifying employees in Hong Kong and Taiwan, respectively. The assets of the schemes are held separately from those of the Group, in funds under the control of trustees. The Group contributes 5% and 6% of relevant payroll costs to the Mandatory Provident Fund Scheme and the defined contribution retirement benefit scheme, respectively, in which contribution is matched by employees.181ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度36.退休福利計劃（續）於中國經營之附屬公司之合資格僱員目前參與由當地市政府管理之中央退休金計劃。

中國附屬公司須按僱員薪酬總額之10%向中央退休金計劃供款，以作為退休福利所需之資金。

當地市政府承諾負責向中國附屬公司合資格僱員提供退休福利。

於截至二零二二年十二月三十一日止年度，自損益扣除的供款總額約為7,260,000港元（二零二一年：3,347,000港元）。

37.收購附屬公司截至二零二二年十二月三十一日止年度，本集團收購State Venture Investment (HK) Holding Limited（「State Venture HK」）100%已發行股本及其附屬公司青島國投鼎成資產管理有限公司（「青島國投」）（統稱「State Venture集團」）51%已發行股本，代價為3,764,000港元。

收購已採用收購法入賬。

收購產生的商譽金額約為550,000港元。

State Venture集團從事提供金融服務。

收購S t a t e Venture集團旨在繼續擴展本集團的金融業務。

已轉讓代價36. RETIREMENTBENEFITSPLANS (Continued)Eligible staff of subsidiaries operating in the PRC currently participate in a central pension scheme operated by the local municipal government. The subsidiaries in the PRC are required to contribute 10% of the covered payroll of its employees to the central pension scheme to fund the benefits. The local municipal government undertakes to assume the retirement benefit obligations of the eligible employees of the PRC subsidiaries.During the year ended 31 December 2022, the total contribution charged to profit or loss amounted to approximately HK$7,260,000 (2021: HK$3,347,000).37. ACQUISITIONOFSUBSIDIARIESDuring the year ended 31 December 2022, the Group acquired 100% of the issued share capital of State Venture Investment (HK) Holding Limited (“State Venture HK”) and 51% of the issued share capital of its subsidiary,青島國投鼎成資產管理有限公司(“青島國投”) (hereinafter collectively “State Venture Group”) for consideration of HK$3,764,000.The acquisitions have been accounted for using the acquisition method. The amount of goodwill arising as a result of the acquisition was approximately HK$550,000. State Venture Group is engaged in the provision of financial services. State Venture Group was acquired so as to continue the expansion of the Group’s financial sector.Consideration transferredState Venture GroupState Venture集團HK$’000千港元Cash現金3,764 China United Venture Investment Limited新華聯合投資有限公司182Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度37.收購附屬公司（續）於收購日期已收購資產及已確認負債載列如下：收購產生之商譽：37. ACQUISITIONOFSUBSIDIARIES (Continued)Assets acquired and liabilities recognised at the date of acquisition are as follows:State Venture GroupState Venture集團HK$’000千港元Property, plant and equipment物業、廠房及設備10Other intangible asset (Customer relationship)其他無形資產（客戶關係） 1,780Other receivables其他應收賬款1,475Cash and cash equivalents現金及等同現金項目4,013Other payable其他應付賬款(58)Amount due to the former owner應付前擁有人款項(265)Deferred tax liability遞延稅項負債(445) 6,510 Goodwill arising on acquisition:State Venture GroupState Venture集團HK$’000千港元Consideration transferred已轉讓代價3,764Add: non-controlling interests (49% in subsidiary)加：非控股權益（於附屬公司之49%）3,296Less: net assets acquired減：已收購資產淨值(6,510) Goodwill arising on acquisition收購產生之商譽550 183ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度37.收購附屬公司（續）收購產生之商譽：（續）由於合併成本包括控制權溢價，故收購State Venture集團產生商譽。

此外，就合併支付的代價實際包括有關預期協同效應、收入增長、未來市場發展及State Venture集團業務的人力團隊利益的金額。

該等利益因不符合可識別無形資產的確認標準而未獨立於商譽確認。

於收購日確認的State Venture集團49%非控制權益乃經參考非控制權益的公平值計量，金額約為3,296,000港元。

該公平值乃採用收益法估計。

以下為釐定公平值所用的關鍵模型輸入數據：－貼現率15.20%；－終端增長率為2%；及－於估計State Venture HK及青島國投的非控股權益的公平值時，市場參與者會考慮因缺乏控制權或市場流通率不足而作出假定調整。

37. ACQUISITIONOFSUBSIDIARIES (Continued)Goodwill arising on acquisition: (Continued)Goodwill arose in the acquisition of State Venture Group because the cost of the combination included a control premium. In addition, the consideration paid for the combination effectively included amounts in relation to the benefit of expected synergies, revenue growth, future market development and the assembled workforce of State Venture Group. These benefits are not recognised separately from goodwill because they do not meet the recognition criteria for identifiable intangible assets.The non-controlling interests 49% in State Venture Group recognised at the acquis i t ion date was measured by reference to the fair value of the non-controlling interests and amounted to approximately HK$3,296,000. This fair value was estimated by applying an income approach. The following were the key model inputs used in determining the fair value:– discount rate of 15.20%;– terminal growth rate of 2%; and– assumed adjustments because of the lack of control or lack of marketability that market participants would consider when estimating the fair value of the non-controlling interests in State Venture HK and青島國投.China United Venture Investment Limited新華聯合投資有限公司184Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度37.收購附屬公司（續）收購State Venture集團之現金流入淨額：年內虧損包括溢利2,558,000港元，乃歸因於State Venture集團產生的額外業務。

年內收入包括State Venture集團產生的6,964,000港元。

38.出售一間附屬公司本集團於二零二一年十月二十二日出售其於東莞亞聯的全部投資，詳情見附註13。

37. ACQUISITIONOFSUBSIDIARIES (Continued)Net cash inflow on acquisition of State Venture Group:HK$’000千港元Cash consideration paid已付現金代價3,764Less: cash and cash equivalent balances acquired減：已收購現金及等同現金項目結餘(4,013) (249) Inc luded in the loss for the year i s pro f i t o f HK$2,558,000 attributable to the additional business generated by State Venture Group. Revenue for the year includes HK$6,964,000 generated from State Venture Group.38. DISPOSALOFASUBSIDIARYFor detail in note 13, the Group disposed of its entire investment in the Dongguan Asia-Link on 22 October 2021.185ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度38.出售一間附屬公司（續）東莞亞聯於出售日期的資產淨值如下：失去控制權的資產及負債之分析出售一間附屬公司之收益38. DISPOSALOFASUBSIDIARY (Continued)The net assets of Dongguan Asia-Link at the date of disposal were as follows:Analysis of assets and liabilities over which control was lostPeriod ended22 October 2021截至二零二一年十月二十日之期間HK$’000千港元Property, plant and equipment物業、廠房及設備21,021Right-of-use assets使用權資產2,624Other receivables其他應收賬款11,419Cash and cash equivalents現金及等同現金項目1,351Other payables其他應付賬款(4,370) 32,045Release of translation reserve upon disposal of a subsidiary於出售一間附屬公司時解除外匯匯兌儲備(2,828) Net assets disposed of已出售資產淨值29,217 Gain on disposal of a subsidiaryPeriod ended22 October 2021截至二零二一年十月二十日之期間HK$’000千港元Cash consideration現金代價122,210Net assets disposed of已出售資產淨值(29,217)Wavier of the intra-group transactions豁免集團內公司間交易14,892 Gain on disposal of Dongguan Asia-Link (note 13)出售東莞亞聯之收益（附註13）107,885 China United Venture Investment Limited新華聯合投資有限公司186Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度38.出售一間附屬公司（續）出售一間附屬公司產生之現金流入淨額東莞亞聯對本集團於過往期間之業績之影響於附註13披露。

39.資本風險管理本集團管理其資本，以確保本集團內各實體將可持續經營，同時透過優化債務及股本結餘令利益相關者之回報最大化。

本集團之整體策略與上年度維持不變。

本集團之資本架構包括貿易及其他應付賬款、租賃負債、銀行及其他借款、合約負債、現金及等同現金項目淨額及本公司擁有人應佔權益，包括已發行股本、各種儲備及保留溢利。

本公司董事定期檢討資本架構。

作為此檢討一部分，本公司董事考慮與各類資本相關之資本成本及風險。

根據本公司董事之推薦意見，本集團將透過派付股息、發行新股以及發行新債等措施，均衡其整體資本架構。

38. DISPOSALOFASUBSIDIARY (Continued)Net cash inflow arising on disposal of a subsidiary2021二零二一年HK$’000千港元Consideration received in cash and cash equivalents現金及等同現金項目已收代價122,210Less: Receivable from the sale proceed of disposal of a subsidiary減：應收出售一間附屬公司之銷售所得款項(61,105)Less: cash and cash equivalent disposed of減：已出售現金及等同現金項目(1,351) 59,754 The impact of Dongguan Asia-Link on the Group’s result in the prior periods is disclosed in note 13.39. CAPITALRISKMANAGEMENTThe Group manages its capital to ensure that entities in the Group will be able to continue as a going concern while maximising the return to stakeholders through the optimisation of the debt and equity balance. The Group’s overall strategy remains unchanged from prior year.The capital structure of the Group consists of trade and other payables, lease liabilities, bank and other borrowings, contract liabilities, net cash and cash equivalents, and equity attributable to owners of the Company, comprising issued share capital, various reserves and retained profits.The directors of the Company review the capital structure periodically. As part of this review, the directors of the Company consider the cost of capital and risks associated with each class of capital. Based on recommendations of the directors of the Company, the Group will balance its overal l capital structure through the payment of dividends, new share issues as well as issue of new debts.187ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具(a)金融工具分類(b)金融風險管理目標及政策本集團之主要金融工具包括透過損益按公平值列賬之金融資產、貿易及其他應收賬款、現金及等同現金項目、應收貸款、貿易及其他應付賬款以及銀行及其他借款。

金融工具詳情於相關附註披露。

與該等金融工具有關的風險包括市場風險（貨幣風險及利率風險）、信貸風險及流動資金風險。

下文載列如何降低該等風險的政策。

管理層管理及監察該等風險，確保能按時及有效採取適當措施。

40. FINANCIALINSTRUMENTS(a) Categories of financial instruments20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Financial assets金融資產Financial assets at amortised cost (including cash and cash equivalent)按攤銷成本列值之金融資產（包括現金及等同現金項目） 199,612254,186Financial assets at FVTPL透過損益按公平值列賬之金融資產1,952 – 201,564254,186 Financial liabilities金融負債Financial liabilities at amortised cost以攤銷成本計量的金融負債171,392209,063 (b) Financial risk management objectives and policiesThe Group’s major financial instruments include financial assets at FVTPL, trade and other receivables, cash and cash equivalents, loan receivables, trade and other payables and bank and other borrowings. Details of the financial instruments are disclosed in respective notes. The r isks associated with these f inancial instruments included market risk (currency risk and interest rate risk), credit risk and liquidity risk. The policies on how to mitigate these risks are set out below. The management manages and monitors these exposures to ensure appropriate measures are implemented on a timely and effective manner.China United Venture Investment Limited新華聯合投資有限公司188Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）市場風險貨幣風險本公司之數家附屬公司擁有以外幣計價的銷售及採購，從而使本集團承受外幣風險。

本集團現在並無訂立外幣對沖政策。

然而，本集團管理層一直監察匯率風險並將於需要時考慮對沖主要外匯風險。

附註：相關附屬公司之功能貨幣為人民幣╱港元。

由於港元與美元掛鈎且以美元計值之貨幣項目兌功能貨幣人民幣並不重大，故並無呈列敏感度分析。

40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Market riskCurrency riskSeveral subsidiaries of the Company have foreign currency sales and purchases, which expose the Group to foreign currency risk.The Group currently does not have a foreign cu r rency hedg ing po l i c y. Howeve r, t he management of the Group monitors foreign exchange exposure and will consider hedging significant foreign exchange exposure should the need arises.20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Assets資產USD (Note)美元（附註） 5,5557,812New Taiwan dollar (“NTD”)新台幣– 1,143RMB人民幣8,188304 Liabilities負債NTD新台幣1523,219RMB人民幣2224 Note:Functional currencies of the respective subsidiaries are RMB/HK$. Since HK$ is pegged to USD and immaterial monetary items denominated in USD against the functional currency of RMB, no sensitivity analysis is presented.189ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）市場風險（續）貨幣風險（續）下表詳列本集團對美元兌人民幣及新台幣升值或貶值5%（二零二一年：5%）的敏感度。

管理層評估合理可能的匯率變動時所用的敏感度比率為5%（二零二一年：5%）。

敏感度分析只包括未折算的外幣計值貨幣項目，並已於年末按匯率有5%（二零二一年：5%）變動對換算予以調整。

以下正數（負數）表示稅後溢利增加（減少）（二零二一年：稅後虧損減少（增加）），其中相關功能貨幣兌相關貨幣升值5%（二零二一年：5%）。

就美元兌相關外幣貶值5%（二零二一年：5%）而言，將對溢利及其他權益產生同等且相反的影響，且以下結餘將為負數。

40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Market risk (Continued)Currency risk (Continued)The following table details the Group’s sensitivity to a 5% (2021: 5%) increase or decrease in USD against RMB and NTD.5% (2021: 5%) is the sensitivity rate used by management for the assessment of the reasonably possible change in foreign exchange rates. The sensit iv ity analysis includes only outstanding foreign currency denominated monetary items and adjusts their translation at the year end for a 5% (2021: 5%) change in the foreign currency rates. A positive (negative) number below indicates an increase (a decrease) in post-tax profit (2021: a decrease (an increase) in post-tax loss) where the respective functional currencies strengthen by 5% (2021: 5%) against the relevant currency. For a 5% (2021: 5%) weakening of US$ against the relevant foreign currency, there would be an equal and opposite impact on the profit and other equity and the balances below would be negative.Impact of RMBImpact of NTD人民幣之影響新台幣之影響2022202120222021二零二二年二零二一年二零二二年二零二一年HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元Impact on (loss)/profit for the year對年內(虧損)╱溢利之影響30611 (6) (78) China United Venture Investment Limited新華聯合投資有限公司190Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）市場風險（續）利率風險本集團面臨與浮息現金及等同現金項目以及浮息銀行及其他借款有關的現金流量利率風險（見附註29及附註32）。

本集團目前沒有利率對沖政策。

然而，倘有需要，管理層會考慮對沖重大利率風險。

敏感度分析以下敏感度分析乃根據報告期末銀行及其他借款的利率風險而厘定。

分析乃假設於報告期末尚未償還的銀行及其他借貸於全年內尚未償還而編製。

在向主要管理人員進行內部報告利率風險時，採用增加或減少100個基點（二零二一年：100個基點），並代表管理層對利率的可能變化進行評估。

如利率上升╱下降100個基點（二零二一年：100個基點），而所有其他變量維持不變，則截至二零二二年十二月三十一日止年度稅後溢利將增加╱減少約94,180港元（二零二一年：增加╱減少558,450港元）。

40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Market risk (Continued)Interest rate riskThe Group is exposed to cash flow interest rate risk in relation to variable-rate cash and cash equivalents and variable rate bank and other borrowings (see note 29 and note 32). The Group currently does not have an interest rate hedging policy. However, the management will consider hedging significant interest rate exposure should the need arises.Sensitivity analysisThe sensit iv ity analyses below have been determined based on the exposure to interest rates for the bank and other borrowings at the end of the reporting period. The analysis is prepared assuming the bank and other borrowings outstanding at the end of the reporting period were outstanding for the whole year. A 100 basis point (2021: 100 basis point) increase or decrease is used when reporting interest rate risk internally to key management personnel and represents management’s assessment of the reasonably possible change in interest rate.If interest rate had been 100 basis points (2021: 100 basis point) higher/lower and all other variables were held constant, the Group’s post-tax profit for the year ended 31 December 2022 would increase/decrease by approximately HK$94,180 (2021: increase/decrease by HK$58,450).191ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險於二零二二年及二零二一年十二月三十一日，本集團因對手方未能履行責任而面對構成財務虧損之最大信貸風險，源於綜合財務狀況報表所列各項已確認金融資產之賬面值。

本集團按攤銷成本計量之主要金融資產為貿易及其他應收賬款、現金及等同現金項目及應收貸款。

本集團之信貸風險主要來自其貿易應收賬款、應收貸款及合約資產。

由於其絕大部分銷售乃來自有限數目之客戶，故本集團須承受信貸風險集中之風險。

於二零二二年十二月三十一日，本集團五大客戶佔本集團貿易應收賬款及合約資產約56.51%（二零二一年：74.2%），彼等均從事接駁產品業務，信譽良好。

為將信貸風險減至最低，本集團管理層已授權團隊負責釐定信貸限額、信貸審批及其他監察程序以確保採取跟進行動收回逾期債務。

此外，本集團持續集體檢討每項債務之可收回金額，以確保就不可收回金額作出足夠減值虧損。

就此而言，本公司董事認為本集團之信貸風險已大幅降低。

40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit riskAs at 31 December 2022 and 2021, the Group’s maximum exposure to credit r isk which will cause a financial loss to the Group due to failure to discharge an obligation by the counterparties is arising from the carrying amount of the respective recognised financial assets as stated in the consolidated statement of financial position.The Group’s pr incipal f inancia l assets at amortised costs are trade and other receivables, cash and cash equivalents and loan receivables.The Group’s credit risk is primarily attributable to its trade receivables, loan receivables and contract assets. The Group is exposed to concentration of credit risk as a substantial portion of its sales is generated from a limited number of customers. At 31 December 2022, the top five customers of the Group accounted for about 56.51% (2021: 74.2%) of the Group’s trade receivables and contract assets, all of which are engaged in business of connectivity products with good reputation. In order to minimise the credit risk, management of the Group has delegated a team responsible for determination of credit limit, credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts. In addition, the Group reviews the recoverable amount of each debt on a collective and on-going basis to ensure that adequate impairment losses are made for irrecoverable amounts. In this regard, the directors of the Company consider that the Group’s credit risk is significantly reduced.China United Venture Investment Limited新華聯合投資有限公司192Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）管理層根據應收賬款過往信貸虧損經驗估計應收貸款的估計虧損率。

根據管理層評估，違約虧損較低，而本公司董事認為應收貸款的預期信貸虧損屬充分。

就此而言，本公司董事認為本集團的信貸風險已大幅降低。

就其他應收賬款而言，本集團管理層根據過往結算記錄、過往經驗及屬合理及支持性前膽性資料的定量及定性資料，對其他應收賬款及按金的可收回性定期進行個別評估。

管理層相信自初始確認以來該等金額的信貸風險並未顯著增加，且本集團根據12個月預期信貸虧損計提減值撥備。

由於交易對手方為國際信貸評級機構評定為高信貸評級之銀行，故現金及等同現金項目之信貸風險有限。

本公司董事認為，現金及等同現金項目的預期信貸虧損並不重大，故並無確認虧損撥備。

為最大限度地降低信貸風險，本集團管理層已責成其營運管理委員會制定及維護本集團的信貸風險評級，以根據違約風險程度對風險敞口進行分類。

信用評級資料乃由獨立評級機構提供，倘該等資料並不可獲得，營運管理委員會使用其他公開的財務資料及本集團自身交易記錄對其主要客戶和其他債務人進行評級。

本集團持續監察本集團的風險及其對手方的信用評級，而已達成交易的總價值則會在經批准的對手方之間進行分配。

40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)The management estimates the estimated loss rates of loan receivables based on historical credit loss experience of the debtors. Based on assessment by the management, the loss given default is low and the directors of the Company considers the ECL for loan receivables is adequate. In this regard, the directors of the Company consider that the Group’s credit risk is significantly reduced.For other receivables, the management of the Group makes periodic individual assessment on the recoverability of other receivables and deposits based on historical settlement records, past experience, and also quantitative and qualitative information that is reasonable and supportive forward-looking information. The management believes that there is no significant increase in credit risk of these amounts since init ial recognit ion and the Group provided impairment based on 12-month ECL.The credit risk on cash and cash equivalents is limited because the counterparties are banks with high credit-ratings assigned by international credit rating agencies. The directors of the Company considered the ECL on cash and cash equivalents is insignificant and therefore no loss allowance was recognised.In order to minimise credit risk, the management o f t he Group has tasked i t s ope ra t i on management commit tee to deve lop and maintain the Group’s credit risk grading to categorise exposures according to their degree of risk of default. The credit rating information is supplied by independent rating agencies where available and, if not available, the operation management committee uses other publicly available financial information and the Group’s own trading records to rate its major customers and other debtors. The Group’s exposure and the credit ratings of its counterparties are continuously monitored and the aggregate value of transactions concluded is spread amongst approved counterparties.193ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）本集團的當前信貸風險評級框架包括下列分類：40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)The Group’s cur rent c red i t r i sk grad ing framework comprises the following categories:Category DescriptionBasis for recognising ECL類別描述確認預期信貸虧損的基準Performing For financial assets where there has low risk of default or has not been a significant increase in credit risk since initial recognition and that are not credit impaired (refer to as Stage 1)12-month ECL履約就違約風險較低或自初步確認起信貸風險並無顯著增加且並無信貸減值的金融資產（稱為第1階段）12個月預期信貸虧損Doubtful For financial assets where there has been a significant increase in credit risk since initial recognition but that are not credit impaired (refer to as Stage 2)Lifetime ECL – not credit impaired存疑就自初步確認起信貸風險顯著增加但並無信貸減值的金融資產（稱為第2階段）無信貸減值的存續期預期信貸虧損Default Financial assets are assessed as credit impaired when one or more events that have a detrimental impact on the estimated future cash flows of that asset have occurred (refer to as Stage 3)Lifetime ECL – credit impaired違約當發生會對金融資產估計未來現金流量造成不利影響的一項或多項事件，則該資產被評估為信貸減值（稱為第3階段）已產生信貸減值的存續期預期信貸虧損Write-off There is evidence indicating that the debtor is in severe financial difficulty and the Group has no realistic prospect of recoveryAmount is written off撇銷有證據顯示債務人面臨嚴重財務困境，而本集團並無實際收回款項的可能金額撇銷China United Venture Investment Limited新華聯合投資有限公司194Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）下表載列本集團須進行預期信貸虧損評估的金融資產及合約資產的信貸風險詳情：40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)The table below details the credit risk exposures of the Group’s financial assets and contract assets, which are subject to ECL assessment:2022 NotesInternal credit rating12-month or lifetime ECLGross carrying amountLoss allowanceNet carrying amount二零二二年附註內部信用評級12個月或存續期預期信貸虧損總賬面值虧損撥備賬面淨值HK$’000 HK$’000 HK$’000千港元千港元千港元Financial assets at amortised cost按攤銷成本計量的金融資產Loan receivables 25 Low risk 12-month ECL 22,634 (470) 22,164應收貸款低風險12個月預期信貸虧損Cash and cash equivalents 29 Low risk 12-month ECL 106,484 – 106,484現金及等同現金項目低風險12個月預期信貸虧損Other receivables 27 Low risk 12-month ECL 25,891 (613) 25,278其他應收賬款低風險12個月預期信貸虧損Trade receivables 27 Low risk Lifetime ECL (simplified approach)56,875 (11,189) 45,686貿易應收賬款低風險存續期預期信貸虧損（簡化方法） 211,884 (12,272) 199,612 Other items其他項目Contract assets 28 Low risk Lifetime ECL (simplified approach)5,118 (122) 4,996合約資產低風險存續期預期信貸虧損（簡化方法） 195ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）下表載列本集團須進行預期信貸虧損評估的金融資產及合約資產的信貸風險詳情：40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)The table below details the credit risk exposures of the Group’s financial assets and contract assets, which are subject to ECL assessment:2021 Notes Internal credit rating12-month or lifetime ECLGross carrying amountLoss allowanceNet carrying amount二零二一年附註內部信用評級12個月或存續期預期信貸虧損總賬面值虧損撥備賬面淨值HK$’000 HK$’000 HK$’000千港元千港元千港元Financial assets at amortised cost按攤銷成本計量的金融資產Cash and cash equivalents 29 Low risk 12-month ECL 84,132 – 84,132現金及等同現金項目低風險12個月預期信貸虧損Other receivables 27 Low risk 12-month ECL 86,863 (1,389) 85,474其他應收賬款低風險12個月預期信貸虧損Trade receivables 27 Low risk Lifetime ECL (simplified approach)92,168 (7,588) 84,580貿易應收賬款低風險存續期預期信貸虧損（簡化方法） 263,163 (8,977) 254,186 Other items其他項目Contract assets 28 Low risk Lifetime ECL (simplified approach)5,271 (5) 5,266合約資產低風險存續期預期信貸虧損（簡化方法） China United Venture Investment Limited新華聯合投資有限公司196Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）下表載列有關本集團就貿易應收賬款按其到期日所面臨的信貸風險及預期信貸虧損資料：40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)The following tables provide information about the Group’s exposure to credit risk and ECLs for trade receivables according to their past due dates:Trade receivablesWeighted average expected loss rateGross carrying amountLoss allowanceNet carrying amount貿易應收賬款加權平均預期虧損率總賬面值虧損撥備賬面淨值% HK$’000 HK$’000 HK$’000%千港元千港元千港元As at 31 December 2022於二零二二年十二月三十一日Not past due無逾期0.97% 45,107 (436) 44,671Less than 31 days past due逾期少於31日1.72% 58 (1) 5731 – 120 days past due逾期31至120日0.93% 107 (1) 106121 – 180 days past due逾期121至180日14.25% 758 (108) 650Overdue 180 days逾期180日97.23% 7,300 (7,098) 202 53,330 (7,644) 45,686 On individually basis個別基準100% 3,545 (3,545) – 56,875 (11,189) 45,686 197ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)Trade receivablesWeighted average expected loss rateGross carrying amountLoss allowanceNet carrying amount貿易應收賬款加權平均預期虧損率總賬面值虧損撥備賬面淨值% HK$’000 HK$’000 HK$’000%千港元千港元千港元As at 31 December 2021於二零二一年十二月三十一日Not past due無逾期– 28 – 28Less than 31 days past due逾期少於31日0.22% 32,785 (74) 32,71131 – 120 days past due逾期31至120日0.31% 45,757 (146) 45,611121 – 180 days past due逾期121至180日18% 7,419 (1,330) 6,089Overdue 180 days逾期180日95% 2,634 (2,493) 141 88,623 (4,043) 84,580 On individually basis個別基準100% 3,545 (3,545) – 92,168 (7,588) 84,580 China United Venture Investment Limited新華聯合投資有限公司198Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）本集團根據應收賬款內部信用評級對合約資產及其他應收賬款的預期信貸虧損確認如下：40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)The Group recognised ECL for contract assets and other receivables based on the internal credit rating of receivables as follows:Contract assetsExpected loss rateGross carrying amountLoss allowanceNet carrying amount合約資產預期虧損率總賬面值虧損撥備賬面淨值% HK$’000 HK$’000 HK$’000%千港元千港元千港元As at 31 December 2022於二零二二年十二月三十一日Low risk低風險2.38% 5,118 (122) 4,996 As at 31 December 2021於二零二一年十二月三十一日Low risk低風險0.09% 5,271 (5) 5,266 Loan receivablesExpected loss rateGross carrying amountLoss allowanceNet carrying amount應收貸款預期虧損率總賬面值虧損撥備賬面淨值% HK$’000 HK$’000 HK$’000%千港元千港元千港元As at 31 December 2022於二零二二年十二月三十一日Low risk低風險2.08% 22,634 (470) 22,164 As at 31 December 2021於二零二一年十二月三十一日Low risk低風險– – – – 199ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）下表載列已根據存續期預期信貸虧損（簡化方法）或12個月預期信貸虧損就貿易及其他應收賬款確認的信貸虧損撥備變動。

40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)Other receivablesExpected loss rateGross carrying amountLoss allowanceNet carrying amount其他應收賬款預期虧損率總賬面值虧損撥備賬面淨值% HK$’000 HK$’000 HK$’000%千港元千港元千港元As at 31 December 2022於二零二二年十二月三十一日Low risk低風險2.37% 25,891 (613) 25,278 As at 31 December 2021於二零二一年十二月三十一日Low risk低風險1.60% 86,863 (1,389) 85,474 The following tables show the movement in al lowance for credit losses that has been recognised for trade and other receivables and contracts assets under the lifetime ECL (simplified approach) or 12-month ECL.Trade receivablesLifetime ECL – not credit-impaired (simplified approach)Lifetime ECL – credit-impaired (simplified approach) Total貿易應收賬款存續期預期信貸虧損－無信貸減值（簡化方法）存續期預期信貸虧損－信貸減值（簡化方法）總計HK$’000 HK$’000 HK$’000千港元千港元千港元As at 1 January 2021於二零二一年一月一日2,6253,5456,170Allowance recognised in profit or loss於損益確認的撥備1,418 – 1,418 As at 31 December 2021 and 1 January 2022於二零二一年十二月三十一日及二零二二年一月一日4,0433,5457,588Allowance recognised in profit or loss於損益確認的撥備3,601 – 3,601 As at 31 December 2022於二零二二年十二月三十一日7,6443,54511,189 China United Venture Investment Limited新華聯合投資有限公司200Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）當有資料顯示債務人陷入嚴重財務困難且並無實際可能收回款項時（例如債務人已清盤或進入破產程序，或倘貿易應收賬款逾期超過兩年時，以較早發生者為準），本集團會撇銷貿易應收賬款。

本集團可對債務人採取法律行動以收回到期款項。

40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)The Group writes off a trade receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery, e.g. when the debtor has been placed under liquidation or has entered into bankruptcy proceedings, or when the trade receivables are over two years past due, whichever occurs earlier. The Group may take legal action against the debtors to recover the amount due.Loan receivables12-month ECL應收貸款12個月預期信貸虧損HK$’000千港元As at 1 January 2022於二零二二年一月一日–Allowance recognised in profit or loss於損益確認的撥備470 As at 31 December 2022於二零二二年十二月三十一日470 Other receivables12-month ECL其他應收賬款12個月預期信貸虧損HK$’000千港元As at 1 January 2021於二零二一年一月一日–Allowance recognised in profit or loss於損益確認的撥備1,389 As at 31 December 2021 and 1 January 2022於二零二一年十二月三十一日及二零二二年一月一日1,389Allowance reversed in profit or loss於損益確認的撥備(776) As at 31 December 2022於二零二二年十二月三十一日613 201ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）信貸風險（續）流動資金風險下表詳列本集團非衍生金融負債之尚餘合約期。

該表乃根據本集團須予支付之最早日期按金融負債之未貼現現金流量得出。

40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Credit risk (Continued)Contract assetsLifetime ECL (simplified approach)合約資產存續期預期信貸虧損（簡化方法）HK$’000千港元As at 1 January 2021於二零二一年一月一日–Allowance recognised in profit or loss於損益確認的撥備5 As at 31 December 2021 and 1 January 2022於二零二一年十二月三十一日及二零二二年一月一日5Allowance recognised in profit or loss於損益確認的撥備117 As at 31 December 2022於二零二二年十二月三十一日122 Liquidity riskThe following table details the Group’s remaining contractual maturity for i ts non-derivat ive financial liabilities. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay.China United Venture Investment Limited新華聯合投資有限公司202Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(b)金融風險管理目標及政策（續）流動資金風險（續）流動資金表40. FINANCIALINSTRUMENTS (Continued)(b) Financial risk management objectives and policies (Continued)Liquidity risk (Continued)Liquidity tableWeighted average effective interest rateWithin one year or on demandMore than 1 year but less than 2 yearsMore than 2 years but less than 5 yearsTotal undiscounted cash flowsCarrying amount加權平均實際利率一年內或按要求超過1年但少於2年超過2年但少於5年合約未貼現現金流總額賬面值% HK$’000 HK$’000 HK$’000 HK$’000 HK$’000%千港元千港元千港元千港元千港元As at 31 December 2022於二零二二年十二月三十一日Non-derivative financial liabilities非衍生金融負債Trade and other payables貿易及其他應付賬款N/A不適用71,411 – – 71,41171,411Bank and other borrowings銀行及其他借款3.22% 71,3121,4409,60782,35980,240Lease liabilities租賃負債2.19% 7,7566,6057,32221,68319,741 150,4798,04516,929175,453171,392 Weighted average effective interest rateWithin one year or on demandMore than 1 year but less than 2 yearsMore than 2 years but less than 5 yearsTotal undiscounted cash flowsCarrying amount加權平均實際利率一內或按要求超過1年但少於2年超過2年但少於5年合約未貼現現金流總額賬面值% HK$’000 HK$’000 HK$’000 HK$’000 HK$’000%千港元千港元千港元千港元千港元As at 31 December 2021於二零二一年十二月三十一日Non-derivative financial liabilities非衍生金融負債Trade and other payables貿易及其他應付賬款N/A不適用136,333 – – 136,333136,333Bank and other borrowings銀行及其他借款6% 51,675 – – 51,67551,675Lease liabilities租賃負債2.89% 5,52418,638 – 24,16221,055 193,53218,638 – 212,170209,063 203ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(c)公平值估計公平值估計的不同層級界定如下：相同資產或負債於活躍市場之報價（未經調整）（第一級）。

第一級所包括之報價以外的資產或負債之可觀察直接（即價格）或間接（即自價格得出）輸入數據（第二級）。

並非基於可觀察市場數據（即不可觀察輸入數據）的資產或負債之輸入數據（第三級）。

下表列示本集團按公平值計量的金融資產：40. FINANCIALINSTRUMENTS (Continued)(c) Fair value estimationThe different levels of fair value estimation have been defined as follows: Quoted prices (unadjusted) in active markers 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 (that is, as prices) or indirectly (that is, derived from prices) (level 2). Inputs for the asset or liability that are not based on observable market data (that is, unobservable inputs) (level 3).The fol lowing table presents the Group’s financial assets that are measured at fair value:Level 1 Level 2 Level 3 Total第一級第二級第三級總計HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元As at 31 December 2022於二零二二年十二月三十一日Assets資產FVTPL (non-current)透過損益按公平值列賬（非流動） – – 4747FVTPL (current)透過損益按公平值列賬（流動） 1,905 – – 1,905 Total assets總資產1,905 – 471,952 China United Venture Investment Limited新華聯合投資有限公司204Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(c)公平值估計（續）a.根據經常性基準按公平值計量之金融資產之公平值根據經常性基準計量各金融工具的公平值時所用的估值方法及輸入數據載列如下：40. FINANCIALINSTRUMENTS (Continued)(c) Fair value estimation (Continued)a. Fair value of financial assets that are measured at fair value on a recurring basisThe valuation techniques and inputs used in the fair value measurements of each financial instruments on a recurring basis are set out below:Financial instrumentsFair value hierarchy Fair value as atValuation technique and key inputsSignificant unobservable inputs RangeRelationship of key inputs and significant unobservable inputs to fair value金融工具公平值等級於以下日期的公平值估值方法及關鍵輸入數據重大不可觀察輸入數據範圍關鍵輸入數據及重大不可觀察輸入數據與公平值的關係31/12/202231/12/2021二零二二年十二月三十一日二零二一年十二月三十一日Listed equity securities Level 11,905 N/AQuoted bid prices in an active marketN/AN/AN/A上市股本證券第一級1,905不適用活躍市場所報買入價不適用不適用不適用Unlisted investment Level 347 N/AIncome approach非上市投資第三級47不適用收入法By reference to value of the expected future economic benefits to be derived from the ownership of this investee, based on an appropriate discount rateDiscount rate 30% The higher the discount rate, the lower the fair value經參考被投資方所有權產生的預期未來經濟利益價值，根據適當貼現率貼現率30%貼現率上升，公平值下降205ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度40.金融工具（續）(c)公平值估計（續）a.根據經常性基準按公平值計量之金融資產之公平值（續）金融資產第三級公平值計量的對賬如下：上述截至二零二二年十二月三十一日止年度於損益確認的淨虧損約為3,088,000港元（二零二一年：不適用）。

40. FINANCIALINSTRUMENTS (Continued)(c) Fair value estimation (Continued)a. Fair value of financial assets that are measured at fair value on a recurring basis (Continued)Reconci l iat ion of Level 3 fa ir value measurements of financial assets are as follows:Unlisted investments非上市投資HK$’000千港元At 1 January 2022於二零二二年一月一日–Addition添置3,135Net loss recognised in profit or loss於損益確認的淨虧損(3,088) At 31 December 2022於二零二二年十二月三十一日47 The above net loss for the year ended 31 December 2022 recognised in profit or loss of approximately HK$3,088,000 (2021: N/A).China United Venture Investment Limited新華聯合投資有限公司206Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度41.關聯方交易及結餘本年度內，本集團曾與關聯方進行下列交易：於報告期末以下結餘屬尚未償還：41. RELATEDPARTYTRANSACTIONSAND BALANCESDuring the current year, the Group entered into the following transactions with related parties:Name Nature of transactions 20222021名稱交易性質二零二二年二零二一年HK$’000 HK$’000千港元千港元PTShenzhen (Note a) Cost of service rendered paid by the Group– 1,708柏濤深圳（附註a）本集團已付提供服務成本PTShenzhen (Note a) Rental paid by the Group 660862柏濤深圳（附註a）本集團已付租金Goldstone (Note b) Interest expense paid by the Group856 –金石（附註b）本集團已付利息開支China State Ventures Group Limited (Note c)Rental paid by the Group 677 –中國新華企業集團有限公司（附註c）本集團已付租金 The following balances were outstanding at the end of the reporting period:Name Nature of balancesAmounts due from/(to) related parties名稱結餘性質應收╱（應付）關聯方款項20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元PTShenzhen (Note a) Cost of service rendered paid by the Group(772) (838)柏濤深圳（附註a）本集團已付提供服務成本PTShenzhen (Note a) Rental paid by the Group (267) –柏濤深圳（附註a）本集團已付租金Goldstone (Note b) Loans lent to the Group (36,624) –金石（附註b）向本集團借出的貸款CITIC (Note d) Loan lent by the Group 13,800 –中信（附註d）本集團借出的貸款207ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度41.關聯方交易及結餘（續）附註：(a)本公司董事及股東王漓峰先生於柏濤深圳擁有間接股權17.5%（二零二一年：27.6%）。

(b)金石由本公司非執行董事黃斌先生間接擁有60%權益；及(ii)由中信國際資產管理間接擁有40%權益。

中信國際資產管理為一間於香港註冊成立的有限公司，及為中信國際金融控股的非全資附屬公司。

中信國際資產管理主要從事股權投資及資產管理。

本金乃於年內借出，且已於12個月內償還。

(c)董事黃斌先生間接持有本公司，直至二零二二年十月十九日。

(d)黃斌先生及倪弦先生，即本公司董事關鍵管理人員薪酬本公司董事及關鍵管理層其他成員於年內的薪酬如下：41. RELATEDPARTYTRANSACTIONSAND BALANCES (Continued)Notes:(a) Mr. Wang Li Feng, a director and a shareholder of the Company has an indirect equity interest of 17.5% (2021: 27.6%) in PTShenzhen.(b) Goldstone is indirectly owned as to 60% by Mr. Huang Bin, the non-executive Director of the Company; and (ii) indirectly owned as to 40% by CIAM. CIAM is a company incorporated in Hong Kong with limited liability and is a non wholly-owned subsidiary of CIFH. CIAM is principally engaged in equity investment and asset management. The principal was lent during the year and repayment was made within 12 months.(c) Mr. Huang Bin being the director and indirectly hold of the Company until 19 October 2022.(d) Mr. Huang Bin and Mr. Ni Xian, being the directors of the Company.Compensation of key management personnelThe remuneration of directors of the Company and other members of key management during the year was as follows:20222021二零二二年二零二一年HK$’000 HK$’000千港元千港元Fees, salaries and allowances袍金、薪資及津貼8,8075,857Contribution to retirement benefit scheme退休福利計劃供款729437 9,5366,294 China United Venture Investment Limited新華聯合投資有限公司208Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度42.附屬公司詳情於二零二二年及二零二一年十二月三十一日之本公司主要附屬公司詳情如下：42. PARTICULARSOFSUBSIDIARIESParticulars of the Company’s principal subsidiaries at 31 December 2022 and 2021 are as follows:Name of subsidiaryForm of business structurePlace/country of incorporation/registration/operationPaid up and issued share capital/registered capitalPercentage of nominal value of issued share capital/registered capital held by the Company Principal activity附屬公司名稱業務架構形式註冊成立╱註冊╱營業地點╱國家已發行及繳足股本╱註冊資本本公司所持之已發行股本面值╱註冊資本比例主要業務Direct Indirect直接間接2022202120222021二零二二年二零二一年二零二二年二零二一年Asia-Link Technology Limited Limited liability companyBritish Virgin Islands/TaiwanUS$50,000 Ordinary shares– – 100% 100% Trading of connectivity products mainly for computers and peripheral products in the USA, investment holding亞聯科技有限公司有限責任公司英屬維爾京群島╱台灣50,000美元普通股在美國買賣主要用於電腦及周邊設備產品之接駁產品及投資控股Dongguan Glory Mark Electronic Co., Ltd.Limited liability companyPRCHK$15,100,000 Paid up registered capital– – 100% 100% Manufacture of connectivity products mainly for computers and peripheral products東莞輝煌電子有限公司有限責任公司中國15,100,000港元繳足註冊資本製造主要用於電腦及周邊設備產品之接駁產品Glory Mark Electronic Limited (Note a)Limited liability companyBritish Virgin Islands/TaiwanUS$50,000 Ordinary shares– – 100% 100% Trading of connectivity products mainly for computers and peripheral products in South East Asia輝煌電子有限公司（附註a）有限責任公司英屬維爾京群島╱台灣50,000美元普通股在東南亞買賣主要用於電腦及周邊設備產品之接駁產品Glory Mark Electronic Limited Limited liability companySamoa/Taiwan US$50,000 Ordinary shares– – 100% 100% Trading of connectivity products mainly for computers and peripheral products輝煌電子有限公司有限責任公司薩摩亞╱台灣50,000美元普通股買賣主要用於電腦及周邊設備產品之接駁產品Glory Mark International (Holdings) LimitedLimited liability companyBritish Virgin Islands/Hong KongUS$400 Ordinary shares100% 100% – – Investment holding輝煌國際（集團）有限公司有限責任公司英屬維爾京群島╱香港400美元普通股投資控股Dongguan Asia-Link (Note b) Limited liability companyPRCHK$62,260,000 Paid up registered capital– – N/A 100% Manufacture of connectivity products mainly for computers and peripheral products東莞亞聯（附註b）有限責任公司中國62,260,000港元繳足註冊資本不適用製造主要用於電腦及周邊設備產品之接駁產品Asia-Link (Fogang) Electronic Limited (Note c)Limited liability companyPRCUS$3,150,000 Paid up registered capital– – 100% 100% Manufacture of connectivity products mainly for computers and peripheral products亞聯（佛岡）電子有限公司（附註c）有限責任公司中國3,150,000美元繳足註冊資本製造主要用於電腦及周邊設備產品之接駁產品209ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度Name of subsidiaryForm of business structurePlace/country of incorporation/registration/operationPaid up and issued share capital/registered capitalPercentage of nominal value of issued share capital/registered capital held by the Company Principal activity附屬公司名稱業務架構形式註冊成立╱註冊╱營業地點╱國家已發行及繳足股本╱註冊資本本公司所持之已發行股本面值╱註冊資本比例主要業務Direct Indirect直接間接2022202120222021二零二二年二零二一年二零二二年二零二一年Dongguan Glory Mark and Asia-Link Technology Co., Ltd.Limited liability companyPRCHK$24,500,000 Paid up registered capital– – 100% 100% Manufacture of connectivity products mainly for computers and peripheral products東莞輝煌亞聯技術有限公司有限責任公司中國24,500,000港元繳足註冊資本製造主要用於電腦及周邊設備產品之接駁產品Dongguan Glory Mark and Asia Link Electronic Co., LtdLimited liability companyPRCHK$1,223,100 – – 100% 100% Manufacture of connectivity products mainly for computers and peripheral productsDongguan Glory Mark and Asia Link Electronic Co., Ltd 有限責任公司中國1,223,100港元製造主要用於電腦及周邊設備產品之接駁產品Shenzhen Shufen Technology Co., Ltd (“Shufen”) (Note d)Limited liability companyPRCHK$1 – – 100% N/AManufacture of connectivity products mainly for computers and peripheral productsShenzhen Shufen Technology Co., Ltd（「Shufen」） （附註d）有限責任公司中國1港元不適用製造主要用於電腦及周邊設備產品之接駁產品PTDesign International (Holdings) LimitedLimited liability companyBritish Virgin Islands/Hong KongUS$50,000 Ordinary shares100% 100% – – Investment holding柏濤設計國際控股有限公司有限責任公司英屬維爾京群島╱香港50,000美元普通股投資控股Pt Design (QH) Limited Limited liability companyPRCHK$2,000,000 Paid up registered capital– – 100% 100% Provision of comprehensive architectural service前海柏濤設計（深圳）有限公司有限責任公司中國2,000,000港元繳足註冊資本提供全面建築服務PTDesign International Limited liability companyHong Kong HK$1,000,000 Ordinary shares– – 100% 100% Investment holding and provision of comprehensive architectural service柏濤設計國際有限責任公司香港1,000,000港元普通股投資控股及提供全面建築服務State Venture Capital Limited (Note e)Limited liability companyHong Kong HK$10,000 Ordinary shares100% 100% – – Investment holding新華國投資本有限公司（附註e）有限責任公司香港10,000港元普通股投資控股State Innovation Capital Limited (Note e)Limited liability companyHong Kong HK$100 Ordinary shares100% 100% – – Investment holding新華國科資本有限公司（附註e）有限責任公司香港100港元普通股投資控股Radiant Assets Management Limited (Note f)Limited liability companyHong Kong HK$10,000 Ordinary shares100% 100% – – Investment holdingRadiant Assets Management Limited（附註f）有限責任公司香港10,000港元普通股投資控股42.附屬公司詳情（續）42. PARTICULARSOFSUBSIDIARIES (Continued)China United Venture Investment Limited新華聯合投資有限公司210Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度42.附屬公司詳情（續）附註：(a)該附屬公司於台灣成立一間分公司，即輝煌電子有限公司台灣分公司（「輝煌電子分公司」）。

輝煌電子分公司從事買賣主要用於電腦及周邊設備產品之接駁產品。

(b)該附屬公司已於二零二一年十月二十二日出售。

(c)該附屬公司已就東莞輝煌亞聯技術有限公司人民幣10,000,000元（二零二一年：人民幣10,000,000元）（相當於11,279,000港元）（二零二一年：12,231,000港元）的銀行貸款作抵押。

(d)該附屬公司於二零二二年七月十五日自關聯方（即本公司董事的于三龍先生及范小令先生）收購。

(e)該附屬公司於二零二二年三月八日自關聯方（即董事黃斌先生及間接持有本公司60%股份）收購。

(f)該附屬公司於二零二二年三月二十一日自關聯方（即本公司董事黃斌先生）收購。

於年底或年內任何時間，概無附屬公司發行任何債務證券。

青島國投為本公司持有51%股權（二零二一年：無）的附屬公司，擁有49%的重大非控制權益，對本集團而言屬重大。

本集團非100%擁有的所有其他附屬公司的非控制權益被視為並不重大。

42. PARTICULARSOFSUBSIDIARIES (Continued)Notes:(a) The subsidiary had established a branch, namely Glory Mark Electronic Limited – Taiwan Branch (the “GMEBranch”) in Taiwan. The GMEBranch is engaged in trading of connectivity products mainly for computers and peripheral products.(b) The subsidiary was disposed on 22 October 2021.(c) The subsidiary was secured for the bank borrowings of RMB10,000,000 (2021: RMB10,000,000) (equivalent to HK$11,279,000) (2021: HK$12,231,000) of Dongguan Glory Mark and Asia-Link Technology Co., Ltd.(d) The subsidiary was acquired on 15 July 2022 from the related parties – Mr. Yu Sanlong and Mrs. Fan Xiaoling being the directors of the Company.(e) The subsidiary was acquired on 8 March 2022 from the related party – Mr. Huang Bin being the director and indirectly hold of 60% shares of the Company.(f) The subsidiary was acquired on 21 March 2022 from the related party – Mr. Huang Bin being the director of the Company.None of the subsidiaries had issued any debt securities at the end of the year or at any time during the year.青島國投, a 51% (2021: nil) owned subsidiary of the Company, has material non-controlling interests of 49% which is material to the Group. The non-controlling interests of all other subsidiaries that are not 100% owned by the Group are considered to be immaterial.211ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度42.附屬公司詳情（續）於集團內公司間對銷前，有關青島國投的財務資料概要呈列如下：42. PARTICULARSOFSUBSIDIARIES (Continued)Summarised financial information in relation to青島國投, before intra-group elimination, is presented below:2022二零二二年HK$’000千港元For the year ended 31 December截至十二月三十一日止年度Revenue收益6,964Profit for the year年內溢利2,558Total comprehensive income for the year年內全面收益總額2,558Profit allocated to non-controlling interests分配予非控股權益之溢利1,253For the year ended 31 December截至十二月三十一日止年度Cash flows generated from operating activities經營活動產生之現金流量3,271Cash flows generated from investing activities投資活動產生之現金流量23Net cash inflows現金流入淨額3,294At 31 December於十二月三十一日Non-current assets非流動資產1,090Current assets流動資產9,306Current liabilities流動負債(667)Non-current liability非流動負債(445)Net assets資產淨值9,284Accumulated non-controlling interests累計非控股權益4,549 China United Venture Investment Limited新華聯合投資有限公司212Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度43.本公司財務狀況表本公司於二零二二年及二零二一年十二月三十一日的財務資料如下：43. STATEMENTOFFINANCIALPOSITIONOF THECOMPANYThe financial information of the Company as at 31 December 2022 and 2021 are as follows:20222021二零二二年二零二一年Notes HK$’000 HK$’000附註千港元千港元NON-CURRENTASSETS非流動資產Unlisted investments in subsidiaries於附屬公司的非上市投資a 34,53034,510 34,53034,510 CURRENTASSETS流動資產Other receivables其他應收賬款1,7353,070Amount due from a related company應收一間關連公司款項b 1312Amounts due from subsidiaries應收附屬公司款項b 48,19416,551Cash and cash equivalent現金及等同現金項目10,43944 60,38119,677 CURRENTLIABILITIES流動負債Other payables其他應付賬款7,0779,262Amounts due to subsidiaries應付附屬公司款項b 64,038 –Bank and other borrowings銀行及其他借款7,00015,214 78,11524,476 NETCURRENTLIABILITIES流動負債淨額(17,734) (4,799) NETASSETS資產淨值16,79629,711 CAPITALANDRESERVE股本及儲備Share capital股本7,0407,040Reserves儲備c 9,75622,671 TOTALEQUITY權益總額16,79629,711 213ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度43.本公司財務資料（續）(a)於附屬公司的非上市投資於二零二二年十二月三十一日，於附屬公司的投資按成本34,530,000港元入賬（二零二一年：34,510,000港元）。

年內概無確認減值虧損（二零二一年：無）。

(b)該等款項無抵押、免息及須於要求時償還。

(c)本公司儲備的變動如下：43. STATEMENTOFFINANCIALPOSITIONOF THECOMPANY (Continued)(a) Unlisted investments in subsidiariesAs at 31 December 2022, unlisted investments i n s u b s i d i a r i e s a re c a r r i e d a t c o s t o f HK$34,530,000 (2021: HK$34,510,000). No impairment losses were recognised for the year (2021: Nil).(b) The amounts due are unsecured, interest-free and repayable on demand.(c) Movements in the Company’s reserves are as follows:Share premium(Accumulated losses)/ Retained profitsTotal reserves股份溢價（累計虧損）╱保留溢利總計HK$’000 HK$’000 HK$’000千港元千港元千港元At 1 January 2021於二零二一年一月一日5,438 (10,594) (5,156)Profit and total comprehensive income for the year年內溢利及全面收入總額– 27,82727,827 At 31 December 2021 and 1 January 2022於二零二一年十二月三十一日及二零二二年一月一日5,43817,23322,671Loss and total comprehensive expense for the year年內虧損及全面開支總額– (12,915) (12,915) As at 31 December 2022於二零二二年十二月三十一日5,4384,3189,756 China United Venture Investment Limited新華聯合投資有限公司214Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度44.融資活動產生負債對賬44. RECONCILIATIONOFLIABILITIESARISING FROMFINANCINGACTIVITIESBank and other borrowingsLease liabilities Total銀行及其他借款租賃負債總計HK$’000 HK$’000 HK$’000千港元千港元千港元At 1 January 2021於二零二一年一月一日– 1,2171,217Changes from financing cash flows:融資活動現金流量變動：New bank and other borrowings raised新籌集之銀行及其他借款51,675 – 51,675Interest paid for bank and other borrowings已付銀行及其他借款利息(1,053) – (1,053)Repayment of principal portion of lease liabilities租賃負債本金部分還款– (2,522) (2,522)Interest paid for leases已付租賃利息– (839) (839) 50,622 (3,361) 47,261 Other changes:其他變動：Interest on bank and other borrowings銀行及其他借款利息1,053 – 1,053Interest on lease liabilities租賃負債利息– 839839New lease recognised (note 19)經確認的新租賃（附註19） – 22,07022,070Exchange realignment匯兌調整– 290290 At 31 December 2021於二零二一年十二月三十一日51,67521,05572,730 Changes from financing cash flows:融資活動現金流量變動：New bank and other borrowings raised新籌集之銀行及其他借款124,757 – 124,757Interest paid for bank and other borrowings已付銀行及其他借款利息(2,581) – (2,581)Repayment of principal portion of bank and other borrowings銀行及其他借款本金部分還款(93,051) – (93,051)Repayment of principal portion of lease liabilities租賃負債本金部分還款– (4,532) (4,532)Interest paid for leases已付租賃利息– (1,190) (1,190) 29,125 (5,722) 23,403 Other changes:其他變動：Interest on bank and other borrowings銀行及其他借款利息2,581 – 2,581Interest on lease liabilities租賃負債利息– 1,2841,284New lease recognised (note 19)經確認的新租賃（附註19） – 4,6864,686Exchange realignment匯兌調整(3,141) (1,562) (4,703) At 31 December 2022於二零二二年十二月三十一日80,24019,74199,981 215ANNUALREPORT 2022年報2022Notes to the Consolidated Financial Statements綜合財務報表附註For the year ended 31 December 2022截至二零二二年十二月三十一日止年度45.資產質押於二零二二年十二月三十一日，若干物業、廠房及設備及土地使用權分別8,637,000港元及3,915,000港元（二零二一年：9,892,000港元及4,374,000港元港元）已質押作本集團若干銀行借款的抵押品（附註32）。

46.主要非現金交易截至二零二二年十二月三十一日止年度，本集團就辦公室物業訂立新租賃協議。

於租賃開始時，本集團確認相同金額的使用權資產及租賃負債約4,686,000港元（二零二一年：22,070,000港元）。

47.報告期後事項於二零二三年三月二十四日，本公司（作為賣方）與本公司獨立第三方Shen Chen（作為買方）訂立股權轉讓協議，據此，本公司同意出售Radiant Assets Management Limited之100%已發行，代價為1港元。

出售事項其後已於二零二三年六月十四日完成。

由於有關出售事項的適用百分比率（定義見GEM上市規則第19.07條）低於5%，故出售事項獲豁免遵守GEM上市規則第19章項下的申報、公告及股東批准規定。

45. PLEDGEOFASSETSAs at 31 December 2022, certain property, plant and equipment and land use right of HK$8,637,000 and HK$3,915,000 respectively (2021: HK$9,892,000 and HK$4,374,000 respectively) were pledged as collateral for the Group’s certain bank borrowings (note 32).46. MAJORNON-CASHTRANSACTIONSDuring the year ended 31 December 2022, the Group entered into new lease agreements in respect of office premises. On the lease commencement, the Group recognised right-of-use assets and lease liabilities in the same amount of approximately HK$4,686,000 (2021: HK$22,070,000).47. EVENTSAFTERREPORTINGPERIODOn 24 March 2023, the Company as vendor and Shen Chen, an independent third party of the Company, as purchaser have entered into an equity transfer agreement, pursuant to which the Company has agreed to dispose of 100% of the issued capital of Radiant Assets Management Limited at a consideration of HK$1. The disposal was subsequently completed on 14 June 2023.As the relevant applicable percentage ratios (as defined under Rule 19.07 of the GEMListing Rules) in respect of the disposal are less than 5%, the disposal is exempt from the reporting, announcement and shareholders’ approval requirement under Chapter 19 of the GEMListing Rules.China United Venture Investment Limited新華聯合投資有限公司216Financial Summary財務概要Year ended 31 December截至十二月三十一日止年度20182019202020212022二零一八年二零一九年二零二零年二零二一年二零二二年HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元千港元RESULTS業績Revenue收入388,770347,973292,748339,255287,850 Profit/(loss) for the year年內溢利╱（虧損） 24,43411,870 (5,122) 49,726 (61,474) Profit/(loss) for the year attributable to:以下人士應佔年內溢利╱ （虧損）：Owners of the Company本公司擁有人24,45612,255 (4,576) 49,989 (61,906)Non-controlling interests非控股權益(22) (385) (546) (263) 432 24,43411,870 (5,122) 49,726 (61,474) As at 31 December於十二月三十一日20182019202020212022二零一八年二零一九年二零二零年二零二一年二零二二年HK$’000 HK$’000 HK$’000 HK$’000 HK$’000千港元千港元千港元千港元千港元ASSETSANDLIABILITIES資產及負債Total assets資產總額274,869256,445258,022417,114319,751Total liabilities負債總額(154,389) (126,773) (124,833) (244,006) (205,136) Shareholders’ funds股東資金120,480129,672133,189173,108114,615 Shareholders’ funds attributable to:以下人士應佔股東資金：Owners of the Company本公司擁有人120,040129,617133,680173,862111,641Non-controlling interests非控股權益44055 (491) (754) 2,974 120,480129,672133,189173,108114,615 Financial Summary財務概要（於開曼群島註冊成立並於百慕達存續之有限公司）CHINAUNITEDVENTUREINVESTMENTLIMITED(Incorporated in the Cayman Islands and continued in Bermuda with limited liability) 封面 香港聯合交易所有限公司（「聯交所」）GEM之特色 目錄 公司資料 主席報告書 管理層論述及分析 董事及高級管理人員簡歷 董事會報告 企業管治報告 獨立核數師報告 綜合損益及其他全面收益表 綜合財務狀況表 綜合權益變動表 綜合現金流量表 綜合財務報表附註 財務概要 封底