327,146.88
293,909.44
374,705.56	56,366,957.61
27,326,974.17
	53,188,585.00	58,795,610.64

0.036
0.018
0.018
	37,408.40	24,435.46
	11,444.53	12,296.17

0.65
0.56
	879,943	781,555

0.4090
0.3909
0.0572	21.0000
12.1785

Age Restriction	Ensuring Workplace Safety	Age Verification
年龄限制	确保工作环境安全	核实年龄

Reserve
储备
Share capital	Other reserves	Accumulated losses	Total equity
股本	其他储备	累计亏损	总权益
(Note 27)	(Note 28)	(Note 28)
（附注27）	（附注28）	（附注28）
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元
42,263	16,779,502	(8,011,430)	8,810,335
–	–	(216,911)	(216,911)
–	584	–	584
–	(79)	–	(79)
–	3,611	–	3,611
–	(4,091)	–	(4,091)
–	(476,849)	–	(476,849)
–	783	–	783
–	(476,041)	(216,911)	(692,952)
42,263	16,303,461*	(8,228,341)*	8,117,383

SHIN HWA WORLD LIMITED 神话世界有限公司

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

综合权益变动表

For the year ended 31 December 2022 截至二零二年十二月三十一日止年度

At 1 January 2022于二零二年一月一日

Los for the year年度亏损

Other comprehensive income/(los) for the year: 年度其他全面收益╱（亏损）：

Revaluation of property, plant and equipment

upon transfer to investment properties, net

于转拨至投资物业时重估物业、

厂房及设备，净额

Defered tax debited to aset revaluation reserve 于资产重估储备扣除之递延税项

Remeasurements of employe benefit obligation 重新计量雇员福利责任

Changes in fair value of equity investments at

fair value through other comprehensive income

按公平价值计入其他全面收益

之股权投资之公平价值变动

Exchange diferences on translation of

foreign operations

换算海外业务之汇兑差额

Release of exchange reserve upon

deregistration of foreign subsidiaries

境外附属公司撤销注册时

解除之汇兑储备

Total comprehensive los for the year年度全面亏损总额

At 31 December 2022于二零二年十二月三十一日

At 1 January 2021于二零二一年一月一日35,21917,369,109(6,957,711)10,446,617

Los for the year年度亏损–(1,055,766)(1,055,766)

Other comprehensive income/(los) for the year:年度其他全面收益╱（亏损）：

Remeasurements of employe benefit obligation 重新计量雇员福利责任–514–514

Changes in fair value of equity investments at

fair value through other comprehensive income

按公平价值计入其他全面收益

之股权投资之公平价值变动–(12,463)–(12,463)

Exchange diferences on translation of

foreign operations

换算海外业务之汇兑差额

–(707,178)–(707,178)

Total comprehensive los for the year年度全面亏损总额–(719,127)(1,055,766)(1,774,893)

Release of revaluation of investment properties

upon transfer to property, plant

and equipment

于转拨至物业、厂房及设备时

拨回投资物业之重估

–(950)950–

Release of revaluation of investment

properties upon writen-of

于撤销投资物业时

拨回该等物业之重估–(1,097)1,097–

Isue of shares (Note 27)发行股份（附注27）7,044131,718–138,762

Share isue expenses (Note 27)发股费用（附注27）–(151)–(151)

At 31 December 2021于二零二一年十二月三十一日42,26316,779,502(8,011,430)8,810,335

* These reserve acounts comprise the consolidated reserves of

HK$8,075,120,000 (2021: HK$8,768,072,000) in the consolidated

statement of financial position.

* 此等储备账包括综合财务状况表之综合

储备8,075,120,000港元（二零二一年：

8,768,072,000港元）。

2022
二零二二年
HK$’000
千港元
(235,049)
(85)
(88)
–
1,411
488,506
1,487
337
8,735
(33)
19
(63,168)
–
(1,692)
(76,122)
100,770
(2,119)
222,909
171,945
4,356
16,028
(154,992)
–
260,246
2,119
(100,689)
(81)
–
(7,089)
154,506

Anual Report 2022 年报

CONSOLIDATED STATEMENT OF CASH FLOWS

综合现金流量表

For the year ended 31 December 2022 截至二零二年十二月三十一日止年度

二零二一年

NotesHK$’000

附注千港元

CASH FLOWS FROM OPERATING ACTIVITIES经营业务之现金流量

Los before tax除税前亏损(1,040,513)

Adjustments for:调整：

Dividend income from equity investments at

fair value through other comprehensive

income

按公平价值计入其他全面收益之

股权投资之股息收入

6(76)

(Gain)/los on disposal of items of property,

plant and equipment

出售物业、厂房及设备项目之

（收益）╱亏损62,622

Investment properties writen of 投资物业撇销63,585

Derecognition of interest acretion

on early redemption of bank borowing

提早赎回银行借贷时终止确认

之利息增长61,772

Depreciation of property, plant and equipment 物业、厂房及设备之折旧7581,912

Depreciation of right-of-use asets 使用权资产之折旧77,374

Amortisation of other intangible asets 其他无形资产之摊销7346

Impairment of other intangible asets 其他无形资产减值398,449

(Reversal of impairment)/impairment

of trade receivables, net

应收贸易款项（减值拨回）╱

减值，净额7434

Impairment of gaming receivables, net 博彩应收款项减值，净额76,726

Reversal of impairment of other receivables, net 其他应收款项减值拨回，净额7(6,378)

Impairment of property, plant and equipment 物业、厂房及设备之减值750,660

Reversal of provision for inventories 存货拨备拨回7(2,203)

Fair value gains on investment properties, net 投资物业之公平价值收益，净额(112,809)

Finance costs 财务成本8141,717

Finance income 财务收入8(7,274)

26,344

Decrease in completed properties for sale待售已落成物业减少178,363

Decrease in inventories存货减少2,373

Decrease in prepayments, trade and

other receivables

预付款项、应收贸易款项及其他

应收款项减少223,286

(Decrease)/increase in trade and

other payables

应付贸易款项及其他应付款项

（减少）╱增加51,065

Increase in restricted cash受限制现金增加(68,916)

Cash generated from operations经营业务所得现金412,515

Interest received已收利息7,274

Interest paid已付利息(141,387)

Interest element on lease liabilities租赁负债利息部分(330)

Income tax refunded已退回所得税5,783

Income tax paid已付所得税(7,744)

Net cash flows from operating activities经营业务所得现金流量净额276,111

2022
二零二二年
HK$’000
千港元
85
(10,844)
–
948
(1,672)
(11,483)
–
1,599,963
(2,031,500)
(1,610)
(433,147)
(290,124)
820,917
(27,372)
503,421
332,514
170,907
503,421

SHIN HWA WORLD LIMITED 神话世界有限公司

CONSOLIDATED STATEMENT OF CASH FLOWS

综合现金流量表

For the year ended 31 December 2022 截至二零二年十二月三十一日止年度

二零二一年

NotesHK$’000

附注千港元

CASH FLOWS FROM INVESTING ACTIVITIES 投资活动之现金流量

Dividend received from equity investments已收股权投资之股息76

Purchase of items of property, plant

and equipment

购买物业、厂房及设备项目

14(31,946)

Aditions of items of completed

properties for sale

添置待售已落成物业项目

(15)

Proceds from disposal of items of property,

plant and equipment

出售物业、厂房及设备项目

所得款项2,694

Aditions of other intangible asets添置其他无形资产17–

Net cash flows used in investing activities投资活动所用现金流量净额(29,191)

CASH FLOWS FROM FINANCING ACTIVITIES 融资活动之现金流量

Net proceds from placing of shares配售股份所得款项净额27138,611

New bank borowing新造银行借贷–

Repayment of bank borowing偿还银行借贷(229,227)

Principal portion of lease payments租赁付款本金部分29(7,649)

Net cash flows used in financing activities融资活动所用现金流量净额(98,265)

NET (DECREASE)/INCREASE IN CASH AND

CASH EQUIVALENTS

现金及现金等价物（减少）╱增加净额

148,655

Cash and cash equivalents at begining

of the year

年初之现金及现金等价物

647,418

Efect of foreign exchange rate changes, net外币汇率变动之影响，净额24,844

CASH AND CASH EQUIVALENTS AT END

OF THE YEAR

年终之现金及现金等价物

820,917

ANALYSIS OF BALANCES OF CASH

AND CASH EQUIVALENTS

现金及现金等价物结余之分析

Cash and bank balances现金及银行结余23650,652

Non-pledged time deposits with original

maturity of les than thre months

when acquired

取得时原定到期日少于三个月之

无抵押定期存款

23170,265

Cash and cash equivalents as stated in

the consolidated statement

of financial position

综合财务状况表所示之现金及

现金等价物

820,917

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

1 CORPORATE AND GROUP INFORMATION

Shin Hwa World Limited (formerly known as “Landing

International Development Limited”) (the “Company”) is a

limited liability company incorporated in the Cayman Islands

and continued in Bermuda and its shares are listed on the Main

Board of The Stock Exchange of Hong Kong Limited (the “Stock

Exchange”). The adres of registered ofice of the Company is

located at Clarendon House, 2 Church Stret, Hamilton HM 11,

Bermuda, and the principal place of busines of the Company is

located at Units 1412-1413, 14th Flor, China Merchants Tower,

Shun Tak Centre, Nos. 168-200 Conaught Road Central, Hong

Kong.

During the year, the Group is principaly engaged in

development and operation of the integrated leisure and

entertainment resort (the “Integrated Resort Development”),

operation of gaming and entertainment facilities (the “Gaming

Busines”), and property development (the “Property

Development”).

Information about subsidiaries

Particulars of the Company’s principal subsidiaries are as

folows:

Place of incorporation/Isued ordinary/Percentage of equity

Nameregistration and businesregistered share capitalatributable to the CompanyPrincipal activities

注册成立╱注册及已发行普通股╱

名称经营业务地点注册股本公司应占权益百分比主要业务

DirectIndirect

直接间接

Bright House Company LimitedMacauMacau Pataca 25,000–100%Investment holding

耀房有限公司澳门25,000 澳门元投资控股

Calisto Busines LimitedBritish Virgin IslandsUnited States dolars

(“US$”) 76,470,000

100%–Investment holding

Calisto Busines Limited英属处女群岛76,470,000 美元（「美元」）投资控股

Chi Shun Investment (Yangzhou)

Company Limited (“Chi Shun”)*

(Note i) (Note i)

The People’s Republic of China

(“PRC“)

Renminbi (“RMB”)

400,000,000

–100%Investment holding

智信投资（扬州）有限公司（「智信」）*

（附注i）（附注 i）

中华人民共和国（「中国」）人民币（「人民币」）

400,000,000元

投资控股

1 公司及集团资料

神话世界有限公司（前称蓝鼎国际发展

有限公司）（「本公司」）为于开曼群岛注

册成立及于百慕达存续之有限公司，其

股份于香港联合交易所有限公司（「联交

所」）主板上市。本公司之注册办事处地

址为Clarendon House, 2 Church Stret,

Hamilton HM 11, Bermuda，而本公司之

主要营业地点位于香港干诺道中168-200

号信德中心招商局大厦14楼1412至1413

室。

年内，本集团主要从事发展及经营综合休

闲及娱乐度假区（「综合度假区发展」），经

营博彩及娱乐设施（「博彩业务」）及物业发

展（「物业发展」）。

有关附属公司之资料

本公司主要附属公司之详情如下：

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

1 CORPORATE AND GROUP INFORMATION

(continued)

Information about subsidiaries (continued)

Place of incorporation/Isued ordinary/Percentage of equity

Nameregistration and businesregistered share capitalatributable to the CompanyPrincipal activities

注册成立╱注册及已发行普通股╱

名称经营业务地点注册股本公司应占权益百分比主要业务

DirectIndirect

直接间接

Datsun Industrial LimitedHong KongHK$10,000–100%Aset holding

大信实业有限公司香港10,000 港元资产持有

Golden House Ventures LimitedBritish Virgin IslandsUS$2–100%Marketing

Golden House Ventures Limited英属处女群岛2 美元营销

Hapy Bay Pte. Ltd.SingaporeSingapore dolar

(“SGD”) 97,472,000

–100%Investment holding

Hapy Bay Pte. Ltd.新加坡97,472,000

新加坡元（「新加坡元」）

投资控股

Landing Entertainment Korea Co., Ltd.South KoreaKorean Won

(“KRW”) 84,560,025,000

45%55%Gaming busines

Landing Entertainment Korea Co., Ltd.南韩84,560,025,000韩圜

（「韩圜」）

博彩业务

Landing Estate Management

Services Co., Ltd.

South KoreaKRW100,000,000–100%Residential

management

Landing Estate Management

Services Co., Ltd.

南韩100,000,000韩圜住宅管理

Landing Jeju Development Co., Ltd.South KoreaKRW465,000,000,00050%50%Development,

management,

operation and

lease of facilities for

tourism, comerce,

acomodation

and recreation

蓝鼎济州开发株式会社南韩465,000,000,000 韩圜发展、管理、经营及

租赁旅游、商业、

住所及娱乐设施

Landing Management Company LimitedHong KongHK$100100%–Management ofice

蓝鼎管理有限公司香港100港元管理办事处

Landing Resorts Management

Company Limited

Hong KongHK$100100%–Management ofice

蓝鼎娱乐管理有限公司香港100港元管理办事处

1 公司及集团资料（续）

有关附属公司之资料（续）

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

1 CORPORATE AND GROUP INFORMATION

(continued)

Information about subsidiaries (continued)

Place of incorporation/Isued ordinary/Percentage of equity

Nameregistration and businesregistered share capitalatributable to the CompanyPrincipal activities

注册成立╱注册及已发行普通股╱

名称经营业务地点注册股本公司应占权益百分比主要业务

DirectIndirect

直接间接

Landing Resorts Philipines

Development Corporation

Republic of the PhilipinesPhilipine Pesos

(“PHP”) 10,300,000

–100%Management ofice

Landing Resorts Philipines

Development Corporation

菲律宾共和国10,300,000

菲律宾披索

（「菲律宾披索」）

管理办事处

Leader Rainbow LimitedHong KongHK$1100%–Securities Investment

锋虹有限公司香港1港元证券投资

Rainbow Source Developments LimitedBritish Virgin IslandsUS$100100%–Aset holding

虹源发展有限公司英属处女群岛100 美元资产持有

Yao Zhan Trading LimitedBritish Virgin IslandsUS$1100%–Property holding

耀展贸易有限公司英属处女群岛1美元物业持有

The English name of the company refered to in these consolidated

financial statements represent management’s best efort to translate

the Chinese name of the company, as no English name has ben

registered.

Note i: These entity is registered as a wholy-foreign-owned enterprise

under PRC law.

Note i: The registered capital of Chi Shun amounted to RMB400,000,000,

of which RMB385,020,000 was paid up as at 31 December 2022.

The Group had the remaining unpaid capital contribution of

RMB14,980,000 as at 31 December 2022.

The above table lists the subsidiaries of the Company which,

in the opinion of the directors, principaly afected the results

for the year or formed a substantial portion of the net asets of

the Group. To give details of other subsidiaries would, in the

opinion of the directors, result in particulars of excesive length.

1 公司及集团资料（续）

有关附属公司之资料（续）

由于并无注册英文名称，该等综合财务报

表所引述该公司之英文名称乃管理层尽最

大努力对该公司中文名称作出之翻译。

附注i：此实体根据中国法例注册为外商独资企

业。

附注i：智信的注册资本为人民币400,000,000

元，其中于二零二年十二月三十一日

已实收人民币385,020,000元。于二零

二年十二月三十一日，本集团尚有未

支付注资额人民币14,980,000元。

上表列出董事认为主要影响本集团年内业

绩或组成本集团净资产重大部分之本公司

附属公司。董事认为提供其他附属公司之

详情会令篇幅过于冗长。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.1 BASIS OF PREPARATION

These financial statements have ben prepared in

acordance with Hong Kong Financial Reporting Standards

(“HKFRSs”) (which include al Hong Kong Financial Reporting

Standards, Hong Kong Acounting Standards (“HKASs”) and

Interpretations) isued by the Hong Kong Institute of Certified

Public Acountants (“HKICPA”), acounting principles generaly

acepted in Hong Kong and the disclosure requirements

of the Hong Kong Companies Ordinance. They have ben

prepared under the historical cost convention, except for

investment properties and equity investments designated at fair

value through other comprehensive income which have ben

measured at fair value. These financial statements are presented

in Hong Kong dolars (“HK$”) and al values are rounded to the

nearest thousand (HK$’000) except when otherwise indicated.

Basis of consolidation

These financial statements include the financial statements of

the Company and its subsidiaries (colectively refered to as the

“Group”) for the year ended 31 December 2022. A subsidiary

is an entity (including a structured entity), directly or indirectly,

controled by the Company. Control is achieved when the

Group is exposed, or has rights, to variable returns from its

involvement with the investe and has the ability to afect those

returns through its power over the investe (i.e., existing rights

that give the Group the curent ability to direct the relevant

activities of the investe).

Generaly, there is a presumption that a majority of voting rights

in control. When the Company has, directly or indirectly, les

than a majority of the voting or similar rights of an investe,

the Group considers al relevant facts and circumstances in

asesing whether it has power over an investe, including:

(a) the contractual arangement with the other vote holders

of the investe;

(b) rights arising from other contractual arangements; and

The financial statements of the subsidiaries are prepared for

the same reporting period as the Company, using consistent

acounting 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.

2.1 编制基准

该等财务报表已根据香港会计师公会（「香

港会计师公会」）颁布之香港财务报告准则

（「香港财务报告准则」）（包括所有香港财

务报告准则、香港会计准则（「香港会计准

则」）及诠释）、香港公认会计原则及香港

公司条例之披露规定编制。除投资物业及

指定为公平价值计入其他全面收益之股权

投资以公平价值计量外，该等综合财务报

表乃根据历史成本惯例编制。该等财务报

表以港元（「港元」）呈列，除另有指明者

外，所有价值会四舍五入至最接近千位数

（千港元）。

综合账目基准

该等财务报表包括本公司及其附属公司

（统称「本集团」）截至二零二年十二月

三十一日止年度之财务报表。附属公司为

本公司直接或间接控制之实体（包括结构

性实体）。当本集团就参与投资对象营运

承担或有权获得可变回报及能对投资对象

行使权力（即本集团获赋予现有能力以主

导投资对象相关活动之既存权利）影响该

等回报时，即取得控制权。

一般而言，控制权都假设落在大多数表决

权手上。当本公司直接或间接拥有少于投

资对象大多数表决权或类似权利时，本集

团于评估其是否拥有对投资对象之权力时

会考虑一切相关事实及情况，包括：

(a) 投资对象其他表决权持有人之合约

安排；

(b) 其他合约安排所产生之权利；及

附属公司与本公司之财务报表报告期间相

同，并采用一致之会计政策编制。附属公

司之业绩由本集团取得控制权当日起综合

入账，并持续综合入账，直至该控制权终

止当日为止。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.1 BASIS OF PREPARATION (continued)

Basis of consolidation (continued)

Profit or los and each component of other comprehensive

income are atributed to the owners of the parent of the Group

and to the non-controling interests, even if this results in the

non-controling interests having a deficit balance. Al intra-

group asets and liabilities, equity, income, expenses and cash

flows relating to transactions betwen members of the Group

are eliminated in ful on consolidation.

The Group reaseses whether or not it controls an investe if

facts and circumstances indicate that there are changes to one

or more of the thre elements of control described above. A

change in the ownership interest of a subsidiary, without a los

of control, is acounted for as an equity transaction.

If the Group loses control over a subsidiary, it derecognises (i)

the asets (including godwil) and liabilities of the subsidiary,

(i) the carying amount of any non-controling interest and

(i) the cumulative translation diferences recorded in equity;

and recognises (i) the fair value of the consideration received,

(i) the fair value of any investment retained and (i) any

resulting surplus or deficit in profit or los. The Group’s share

of components previously recognised in other comprehensive

income is reclasified to profit or los or acumulated loses,

as apropriate, on the same basis as would be required if the

Group had directly disposed of the related asets or liabilities.

2.2 CHANGES IN ACOUNTING POLICIES AND

DISCLOSURES

The Group has adopted the folowing revised HKFRSs for the

first time for the curent year’s financial statements.

Amendments to HKFRS 3Reference to the Conceptual

Framework

Amendments to HKAS 16Property, Plant and Equipment:

Proceds before Intended Use

Amendments to HKAS 37Onerous Contracts –

Cost of Fulfiling a Contract

Anual Improvements

to HKFRSs 2018-2020

Amendments to HKFRS 1, HKFRS 9,

Ilustrative Examples

acompanying HKFRS 16,

and HKAS 41

2.1 编制基准（续）

综合账目基准（续）

损益及其他全面收益各个部分归属于本集

团母公司拥有人及非控股权益，即使此举

导致非控股权益出现亏绌结余亦然。与本

集团成员公司间进行交易有关之所有集团

内公司间资产及负债、权益、收入、开支

及现金流量于综合账目时全数抵销。

倘有事实及情况显示上述三个控制权元素

中一项或以上出现变动，则本集团会重新

评估其是否控制投资对象。倘于一间附属

公司之拥有权益变动并无导致丧失控制

权，则列账为权益交易。

倘本集团丧失对一间附属公司之控制权，

则其终止确认(i)附属公司之资产（包括商

誉）及负债；(i)任何非控股权益之账面

值；及(i)记入权益之累计汇兑差额；并

确认(i)所收取代价之公平价值；(i)所保留

任何投资之公平价值；及(i)损益中任何

因此产生之盈余或亏绌。倘本集团已直接

出售相关资产及负债，先前于其他全面收

益确认之本集团应占部分应重新分类为损

益或累计亏损（如适用）。

2.2 会计政策及披露变动

本集团于本年度之财务报表内首次采纳以

下经修订之香港财务报告准则。

香港财务报告

准则第3号之

修订本

概念框架的提述

香港会计准则第

16号之修订本

物业、厂房及设备：

作拟定用途前的

所得款项

香港会计准则第

37号之修订本

亏损性合约－

履行合约的成本

香港财务报告

准则二零一八年

至二零二零年

之年度改进

香港财务报告准则

第1号、香港财务

报告准则第9号、

香港财务报告准则

第16号相应阐释范例

及香港会计准则

第41号之修订本

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.2 CHANGES IN ACOUNTING POLICIES AND

DISCLOSURES (continued)

The nature and the impact of the revised HKFRSs that are

aplicable to the Group are described below:

(a) Amendments to HKFRS 3 replace a reference to the

previous Framework for the Preparation and Presentation

of Financial Statements with a reference to the Conceptual

Framework for Financial Reporting (the “Conceptual

Framework”) isued in June 2018 without significantly

changing its requirements. The amendments also ad to

HKFRS 3 an exception to its recognition principle for an

entity to refer to the Conceptual Framework to determine

what constitutes an aset or a liability. The exception

specifies that, for liabilities and contingent liabilities that

would be within the scope of HKAS 37 or HK(IFRIC)-Int

21 if they were incured separately rather than asumed

in a busines combination, an entity aplying HKFRS 3

should refer to HKAS 37 or HK(IFRIC)-Int 21 respectively

instead of the Conceptual Framework. Furthermore,

the amendments clarify that contingent asets do not

qualify for recognition at the acquisition date. The Group

has aplied the amendments prospectively to busines

combinations that ocured on or after 1 January 2022.

As there were no busines combinations during the year,

the amendments did not have any impact on the financial

position and performance of the Group.

(b) Amendments to HKAS 16 prohibit an entity from

deducting from the cost of an item of property, plant and

equipment, any proceds from seling items produced

while bringing that aset to the location and condition

necesary for it to be capable of operating in the maner

intended by management. Instead, an entity recognises

the proceds from seling any such items, and the cost

of producing those items as determined by HKAS 2

Inventories in profit or los. These amendments had no

impact on the financial statements of the Group as there

were no sales of such items produced by property, plant

and equipment made available for use on or after the

begining of the earliest period presented.

2.2 会计政策及披露变动（续）

适用于本集团之经修订香港财务报告准则

的性质及影响阐述如下：

(a) 香港财务报告准则第3号之修订本

以于二零一八年六月颁布之财务报

告概念框架指引（「概念框架」）取代

先前的编制及呈列财务报表框架指

引，而无对其规定造成重大变动。

该等修订本亦为香港财务报告准则

第3号的确认原则新增一个例外情

况，即一间实体可参考概念框架以

厘定构成资产或负债的元素。例外

情况表明，就属于香港会计准则第

37号或香港（国际财务报告诠释委员

会）－诠释第21号范围内的负债及

或然负债而言，倘其属个别产生而

非于一项业务合并中承担，则应用

香港财务报告准则第3号之实体应分

别参考香港会计准则第37号或香港

（国际财务报告诠释委员会）－诠释

第21号（而非概念框架）。此外，该

等修订本澄清，或然资产并不符合

资格于收购日期确认。本集团已对

二零二年一月一日或之后发生的

业务合并前瞻性应用该等修订。由

于年内并无业务合并，故该等修订

对本集团的财务状况及表现并无任

何影响。

(b) 香港会计准则第16号之修订本禁止

实体从物业、厂房和设备项目的成

本中扣除出售将该资产运抵指定地

点并达到能够按照管理层拟定的运

作模式的所需条件过程中产生的项

目的任何所得款项。相反，实体将

出售该等项目的所得款项和按照香

港会计准则第2号存货所厘定生产该

等项目的成本计入损益。因本集团

并无出售于呈列最早期间期初或之

后可供使用的物业、厂房及设备所

产生的该等项目，该等修订对本集

团的财务报表并无影响。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.2 CHANGES IN ACOUNTING POLICIES AND

DISCLOSURES (continued)

asesing whether a contract is onerous under HKAS 37,

the cost of fulfiling the contract comprises the costs that

relate directly to the contract. Costs that relate directly to

a contract include both the incremental costs of fulfiling

that contract (e.g., direct labour and materials) and an

alocation of other costs that relate directly to fulfiling that

contract (e.g., an alocation of the depreciation charge

for an item of property, plant and equipment used in

fulfiling the contract as wel as contract management and

supervision costs). General and administrative costs do

not relate directly to a contract and are excluded unles

they are explicitly chargeable to the counterparty under

the contract. The Group has aplied the amendments

prospectively to contracts for which it has not yet fulfiled

al its obligations at 1 January 2022 and no onerous

contracts were identified. Therefore, the amendments

did not have any impact on the financial position or

performance of the Group.

(d) Anual Improvements to HKFRSs 2018-2020 sets out

amendments to HKFRS 1, HKFRS 9, Ilustrative Examples

acompanying HKFRS 16, and HKAS 41. Details of the

amendments that are aplicable to the Group are as

folows:

‧ HKFRS 9 Financial Instruments: clarifies the fes

that an entity includes when asesing whether the

terms of a new or modified financial liability are

substantialy diferent from the terms of the original

financial liability. These fes include only those

paid or received betwen the borower and the

lender, including fes paid or received by either the

borower or lender on the other’s behalf. The Group

has aplied the amendment prospectively from

1 January 2022. As there was no modification or

exchange of the Group’s financial liabilities during

the year, the amendment did not have any impact

on the financial position or performance of the

Group.

2.2 会计政策及披露变动（续）

在评估一项合约是否为香港会计准

则第37号规定的亏损性合约时，履

行合约的成本包括与合约直接有关

的成本。与合约直接有关的成本包

括履行该合约的增量成本（如直接劳

工及材料成本）以及与履行该合约直

接有关的其他成本的分配（如履行合

约所使用的物业、厂房及设备项目

的折旧费用的分配以及合约管理及

监管成本）。除非一般及行政成本在

合约中明确向对手方收取，否则将

其视作与合约没有直接关系而排除

在外。本集团已对二零二年一月

一日尚未履行其所有责任的合约前

瞻性应用该等修订，并无识别出亏

损性合约。因此，该等修订对本集

团的财务状况或表现并无任何影响。

(d) 香港财务报告准则二零一八年至二

零二零年之年度改进载列香港财务

报告准则第1号、香港财务报告准则

第9号、香港财务报告准则第16号

相应阐释范例及香港会计准则第41

号之修订。适用于本集团的该等修

订详情如下：

‧ 香港财务报告准则第9号金融

工具厘清实体在评估新财务负

债或经修订财务负债的条款是

否与原始财务负债的条款有实

质性差异时所包含的费用。该

等费用仅包括在借款人与贷款

人之间支付或收取的费用，包

括由借款人或贷款人代表对方

支付或收取的费用。本集团已

将该修订自二零二年一月一

日起前瞻性应用。由于年内本

集团的财务负债并无修改或交

换，故该修订并未对本集团的

财务状况或表现造成任何影

响。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.3 ISUED BUT NOT YET EFECTIVE HONG

KONG FINANCIAL REPORTING STANDARDS

The Group has not aplied the folowing new and revised

HKFRSs, that have ben isued but are not yet efective, in

these financial statements.

Amendments to HKFRS 10

and HKAS 28 (2011)

Sale or Contribution of Asets

betwen an Investor and its

Asociate or Joint Venture

Amendments to HKFRS 16Lease Liability in a Sale

and Leaseback

HKFRS 17Insurance Contracts

Amendments to HKFRS 17Insurance Contracts

1, 5

Amendment to HKFRS 17Initial Aplication of HKFRS 17

and HKFRS 9 – Comparative

Information

Amendments to HKAS 1Clasification of Liabilities as

Curent or Non-curent

(the “2020 Amendments”)

2, 4

Amendments to HKAS 1Non-curent Liabilities

with Covenants

(the “2022 Amendments”)

Amendments to HKAS 1 Disclosure of Acounting Policies

and HKFRS Practice

Statement 2

Amendments to HKAS 8Definition of Acounting Estimates

Amendments to HKAS 12Defered Tax related to Asets

and Liabilities arising from

a Single Transaction

2.3 已颁布但尚未生效之香港财务报

告准则

本集团并无于该等财务报表应用下列已颁

布但尚未生效之新订及经修订香港财务报

告准则。

香港财务报告准则

第10号及香港会计准则

第28号（二零一年）

之修订本

投资者与

其联营公司

或合营公司

之间的资产

出售或注资

香港财务报告准则第16号

之修订本

售后租回的租赁

负债

香港财务报告准则第17号保险合约

香港财务报告准则第17号

之修订本

保险合约

1, 5

香港财务报告准则第17号

之修订

香港财务报告

准则第17号及

香港财务报告

准则第9号之

首次应用

－可比较资料

香港会计准则第1号之

修订本

负债分类为流动

或非流动

（「二零二零年

修订」）

2, 4

香港会计准则第1号之

修订本

附带契约的

非流动负债

（「二零二年

修订」）

香港会计准则第1号及

香港财务报告准则实务

报告第2号之修订本

会计政策披露

香港会计准则第8号之

修订本

会计估计的

定义

香港会计准则第12号之

修订本

与单一交易产生

的资产及负债

相关的递延

税项

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.3 ISUED BUT NOT YET EFECTIVE HONG

KONG FINANCIAL REPORTING STANDARDS

(continued)

Efective for anual periods begining on or after 1 January 2023

Efective for anual periods begining on or after 1 January 2024

No mandatory efective date yet determined but available for

adoption

As a consequence of the 2022 Amendments, the efective date of

the 2020 Amendments was defered to anual periods begining on

or after 1 January 2024. In adition, as a consequence of the 2020

Amendments and 2022 Amendments, Hong Kong Interpretation 5

Presentation of Financial Statements – Clasification by the Borower

of a Term Loan that Contains a Repayment on Demand Clause

was revised to align the coresponding wording with no change in

conclusion

As a consequence of the amendments to HKFRS 17 isued in October

2020, HKFRS 4 was amended to extend the temporary exemption

that permits insurers to aply HKAS 39 rather than HKFRS 9 for anual

periods begining before 1 January 2023

An entity that choses to aply the transition option relating to the

clasification overlay set out in this amendment shal aply it on initial

aplication of HKFRS 17

2.3 已颁布但尚未生效之香港财务报

告准则（续）

于二零二三年一月一日或之后开始之年度

期间生效

于二零二四年一月一日或之后开始之年度

期间生效

尚未厘定强制生效日期，但可予采纳

因应二零二年修订，二零二零年修订的

生效日期被推迟至二零二四年一月一日或

之后开始的年度期间。此外，由于二零二

零年修订和二零二年修订，香港诠释第5

号财务报表的呈报－借款人对载有按要求

偿还条款的定期贷款的进行修订，以使相

应措词保持一致，而结论保持不变

作为于二零二零年十月颁布的香港财务报

告准则第17号之修订的结果，香港财务报

告准则第4号已作出修订，以延长允许保险

人于二零二三年一月一日之前开始的年度

期间应用香港会计准则第39号而非香港财

务报告准则第9号的暂时豁免

任何实体当选择应用有关本修订本中的重

分类过渡选项，均须在首次应用香港财务

报告准则第17号时应用

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.3 ISUED BUT NOT YET EFECTIVE HONG

KONG FINANCIAL REPORTING STANDARDS

(continued)

Further information about those HKFRSs that are expected to

be aplicable to the Group is described below.

Amendments to HKAS 1 Clasification of Liabilities as Curent

or Non-curent clarify the requirements for clasifying liabilities

as curent or non-curent, in particular the determination

over whether an entity has a right to defer setlement of the

liabilities for at least 12 months after the reporting period.

Clasification of a liability is unafected by the likelihod that

the entity wil exercise its right to defer setlement of the

liability. The amendments also clarify the situations that are

considered a setlement of a liability. In 2022, the HKICPA

isued the 2022 Amendments to further clarify that, among

covenants of a liability arising from a loan arangement, only

those with which an entity must comply on or before the

reporting date afect the clasification of that liability as curent

or non-curent. In adition, the 2022 Amendments require

aditional disclosures by an entity that clasifies liabilities

arising from loan arangements as non-curent when it has a

right to defer setlement of those liabilities that are subject to

the entity complying with future covenants within 12 months

after the reporting period. The amendments are efective for

anual periods begining on or after 1 January 2024 and shal

be aplied retrospectively. Earlier aplication is permited. An

entity that aplies the 2020 Amendments early is required to

aply simultaneously the 2022 Amendments, and vice versa.

The amendments are not expected to have any significant

impact on the Group’s financial statements.

2.3 已颁布但尚未生效之香港财务报

告准则（续）

预期将适用于本集团的该等香港财务报告

准则的进一步资料载述如下。

香港会计准则第1号之修订将负债分类为

流动或非流动澄清有关将负债分类为流动

或非流动的规定，尤其为确认一间实体于

报告期后是否有权延迟偿还负债最少12

个月。倘实体延迟偿还负债的权利须符合

未来契约，则该实体有权延迟偿还负债，

即使其于报告期末并不符合该等契约。负

债的分类不受该实体行使其延迟偿还负债

的权利的可能性的影响。该等修订亦澄清

被视为偿还负债的情况。于二零二年，

香港会计师公会颁布二零二年修订，以

进一步澄清，由贷款安排产生的负债契

约中，仅于报告日期或之前必须遵守契约

的实体才会影响该负债分类为流动或非流

动。此外，倘由贷款安排分类负债为非流

动的实体符合未来契约，继而有权在报告

期后12个月内延迟偿还该等负债，该二

零二年修订要求该实体作出额外披露。

该二零二零年修订于二零二四年一月一日

或之后开始的年度期间生效，并应追溯应

用。允许提早应用该二零二零年修订。然

而，提早应用该二零二零年修订的实体亦

须应用该二零二年修订，反之亦然。预

期该等修订不会对本集团的财务报表产生

任何重大影响。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.3 ISUED BUT NOT YET EFECTIVE HONG

KONG FINANCIAL REPORTING STANDARDS

(continued)

Amendments to HKAS 1 Disclosure of Acounting Policies

require entities to disclose their material acounting policy

information rather than their significant acounting policies.

Acounting policy information is material if, when considered

together with other information included in an entity’s financial

statements, it can reasonably be expected to influence

decisions that the primary users of general purpose financial

statements make on the basis of those financial statements.

Amendments to HKFRS Practice Statement 2 provide non-

mandatory guidance on how to aply the concept of materiality

to acounting policy disclosures. Amendments to HKAS 1 are

efective for anual periods begining on or after 1 January

2023 and earlier aplication is permited. Since the guidance

provided in the amendments to HKFRS Practice Statement 2

is non-mandatory, an efective date for these amendments is

not necesary. The Group is curently revisiting the acounting

policy disclosures to ensure consistency with the amendments.

Amendments to HKAS 8 clarify the distinction betwen changes

in acounting estimates and changes in acounting policies.

Acounting estimates are defined as monetary amounts

in financial statements that are subject to measurement

uncertainty. The amendments also clarify how entities use

measurement techniques and inputs to develop acounting

estimates. The amendments are efective for anual reporting

periods begining on or after 1 January 2023 and aply to

changes in acounting policies and changes in acounting

estimates that ocur on or after the start of that period. Earlier

aplication is permited. The amendments are not expected to

have any significant impact on the Group’s financial statements.

2.3 已颁布但尚未生效之香港财务报

告准则（续）

香港会计准则第1号之修订本会计政策披

露要求实体披露重要会计政策信息，而非

重大会计政策。会计政策资料可以合理预

期会影响通用财务报表的主要使用者根据

该等财务报表所作出的决定，则该会计政

策资料属重大。香港财务报告准则实务报

告第2号之修订本提供有关如何应用重大

性概念于会计政策披露的非强制性指引。

香港会计准则第1号之修订本于二零二三

年一月一日或之后开始之年度期间生效，

并可提早采纳。由于香港财务报告准则

实务报告第2号之修订本提供的指引并非

强制性，设定有关修订本的生效日期并无

必要。本集团目前正重新审查会计政策披

露，以确保与修订的一致性。

香港会计准则第8号之修订本澄清会计估

计变动与会计政策变动之间的差异。会计

估计定义为财务报表中受计量不确定性影

响的货币金额。修订本亦澄清实体使用计

量技巧及输入数据以计算会计估计的方

式。该等修订本于二零二三年一月一日或

之后开始的年度报告期间生效，并适用于

该期间开始时或之后发生的会计政策变动

及会计估计变动。允许提早应用。预期该

等修订不会对本集团的财务报表产生任何

重大影响。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.3 ISUED BUT NOT YET EFECTIVE HONG

KONG FINANCIAL REPORTING STANDARDS

(continued)

Amendments to HKAS 12 narow the scope of the initial

recognition exception in HKAS 12 so that it no longer aplies

to transactions that give rise to equal taxable and deductible

temporary diferences, such as leases and decomisioning

obligations. Therefore, entities are required to recognise a

defered tax aset (provided that suficient taxable profit is

available) and a defered tax liability for temporary diferences

arising from these transactions. The amendments are efective

for anual reporting periods begining on or after 1 January

2023 and shal be aplied to transactions related to leases and

decomisioning obligations at the begining of the earliest

comparative period presented, with any cumulative efect

recognised as an adjustment to the opening balance of retained

profits or other component of equity as apropriate at that date.

In adition, the amendments shal be aplied prospectively

to transactions other than leases and decomisioning

obligations. Earlier aplication is permited. The amendments

are not expected to have any significant impact on the Group’s

financial statements.

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES

Busines combinations and godwil

Busines combinations are acounted for using the acquisition

method. The consideration transfered is measured at the

acquisition date fair value which is the sum of the acquisition

date fair values of asets transfered by the Group, liabilities

asumed by the Group to the former owners of the acquire

and the equity interests isued by the Group in exchange for

control of the acquire. For each busines combination, the

Group elects whether to measure the non-controling interests

in the acquire that are present ownership interests and entitle

their holders to a proportionate share of net asets in the event

of liquidation at fair value or at the proportionate share of the

acquire’s identifiable net asets. Al other components of non-

controling interests are measured at fair value. Acquisition-

related costs are expensed as incured.

The Group determines that it has acquired a busines when

the acquired set of activities and asets includes an input and a

substantive proces that together significantly contribute to the

ability to create outputs.

2.3 已颁布但尚未生效之香港财务报

告准则（续）

香港会计准则第12号之修订本缩小了于香

港会计准则第12号之初始确认豁免的适

用范围，使其不再适用于产生相同的应课

税及可扣减临时差异的交易，例如租赁及

退役责任。因此，实体须就来自有关交易

的暂时性差异确认递延税项资产及递延税

项负债（前提是有足够而可用的应课税溢

利）。该等修订本于二零二三年一月一日

或之后开始的年度报告期间生效，并于已

呈列的最早可资比较期初应用于与租赁及

退役责任相关之交易，连同确认为对采用

该日期的期初保留溢利或其他权益组成部

分（如适用）结余的调整的任何累计影响。

此外，修订本应可追溯应用于租赁及退役

责任以外的交易，并可提早采纳。本集团

预期该等修订本不会对本集团财务报表产

生任何重大影响。

2.4 主要会计政策概要

业务合并及商誉

业务合并乃以购买法列账。转让之代价乃

以收购日期之公平价值计算，该公平价值

为本集团转让之资产于收购日期之公平价

值、本集团自收购对象之前度拥有人承担

之负债，及本集团发行以换取收购对象控

制权之股本权益之总和。于各业务合并

中，本集团选择按公平价值或按依据比例

分占之收购对象可识别资产净值，计量于

收购对象之非控股权益（其为现时所有权

权益及赋予彼等之持有人权利可于清盘时

按比例分占资产净值）。非控股权益之所

有其他部分按公平价值计量。收购成本于

产生时列为开支。

当被收购的一系列业务及资产包括投入及

实质性过程，并共同对创造产出能力有显

著贡献，则本集团厘定为其已收购一项业

务。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Busines combinations and godwil (continued)

When the Group acquires a busines, it aseses the financial

asets and liabilities asumed for apropriate clasification and

designation in acordance with the contractual terms, economic

circumstances and pertinent conditions as at the acquisition

date. This includes the separation of embeded derivatives in

host contracts of the acquire.

If the busines combination is achieved in stages, the previously

held equity interest is remeasured at its acquisition date fair

value and any resulting gain or los is recognised in profit or

los.

Any contingent consideration to be transfered by the acquirer

is recognised at fair value at the acquisition date. Contingent

consideration clasified as an aset or liability is measured

at fair value with changes in fair value recognised in profit or

los. Contingent consideration that is clasified as equity is not

remeasured and subsequent setlement is acounted for within

equity.

Godwil is initialy measured at cost, being the exces of

the agregate of the consideration transfered, the amount

recognised for non-controling interests and any fair value of the

Group’s previously held equity interests in the acquire over the

identifiable asets acquired and liabilities asumed. If the sum

of this consideration and other items is lower than the fair value

of the net asets acquired, the diference is, after reasesment,

recognised in profit or los as a gain on bargain purchase.

After initial recognition, godwil is measured at cost les

any acumulated impairment loses. Godwil is tested for

impairment anualy or more frequently if events or changes in

circumstances indicate that the carying value may be impaired.

The Group performs its anual impairment test of godwil as at

31 December. For the purpose of impairment testing, godwil

acquired in a busines combination is, from the acquisition

date, alocated 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, irespective of whether

other asets or liabilities of the Group are asigned to those

units or groups of units.

2.4 主要会计政策概要（续）

业务合并及商誉（续）

当本集团收购一项业务时，会根据合约条

款、于收购日期之经济环境及相关条件，

评估将承接之财务资产及负债，以作出适

合之分类及标示，其中包括将收购对象主

合约中之嵌入式衍生工具进行分离。

倘业务合并分阶段进行，收购方先前持有

之收购对象股权于收购日期之公平价值应

按收购日期之公平价值透过损益重新计

量。

由收购方将予转让之任何或然代价将于收

购日期按公平价值确认。归类为资产或负

债之或然代价按公平价值计量，公平价值

之变动于损益确认。归类为权益之或然代

价毋须重新计量。其后结算在权益中列

账。

商誉初步按成本计量，即已转让总代价、

已确认非控股权益及本集团先前由持有之

收购对象股权之公平价值总额，超逾与所

收购可识别资产值及所承担负债之差额。

如总代价及其他项目低于所收购资产净值

之公平价值，于评估后其差额将于损益内

确认为议价收购收益。

于初步确认后，商誉按成本减任何累计减

值亏损计量。商誉每年须作减值测试，但

倘有事件或情况变动而显示账面值可能有

损，则须更频密地作减值测试。本集团会

于每年十二月三十一日进行减值测试。为

进行减值测试，因业务合并而购入之商誉

自购入之日被分配至预期可从合并产生之

协同效益中获益之本集团各个现金产生单

位或现金产生单位组别，而无论本集团其

他资产或负债是否已分配予该等单位或单

位组别。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Busines combinations and godwil (continued)

Impairment is determined by asesing the recoverable amount

of the cash-generating unit (group of cash-generating units) to

which the godwil relates. Where the recoverable amount of

the cash-generating unit (group of cash-generating units) is les

than the carying amount, an impairment los is recognised.

An impairment los recognised for godwil is not reversed in a

subsequent period.

Where godwil has ben alocated to a cash-generating unit

(or group of cash-generating units) and part of the operation

within that unit is disposed of, the godwil asociated with the

operation disposed of is included in the carying amount of the

operation when determining the gain or los on the disposal.

Godwil 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.

Fair value measurement

The Group measures its investment properties and equity

investments at fair value at the end of each reporting period.

Fair value is the price that would be received to sel an aset

or paid to transfer a liability in an orderly transaction betwen

market participants at the measurement date. The fair value

measurement is based on the presumption that the transaction

to sel the aset or transfer the liability takes place either in

the principal market for the aset or liability, or in the absence

of a principal market, in the most advantageous market for

the aset or liability. The principal or the most advantageous

market must be acesible by the Group. The fair value of

an aset or a liability is measured using the asumptions that

market participants would use when pricing the aset or liability,

asuming that market participants act in their economic best

interest.

2.4 主要会计政策概要（续）

业务合并及商誉（续）

减值乃透过评估与商誉有关之现金产生单

位（或现金产生单位之组别）之可收回金额

而确定。倘现金产生单位（或现金产出单

位之组别）之可收回金额少于其账面值，

则应确认减值亏损。因商誉而确认之减值

亏损不应在期后拨回。

当商誉构成一个现金产生单位（或现金产

生单位之组别）之一部分而该单位之部分

业务被出售，并在决定出售业务之收益或

亏损时，与出售业务相关之商誉将包括在

该业务之账面值内。在此情况下出售之商

誉将以出售业务及现金产生单位之保留部

分之相对价值为基础作计量。

公平价值计量

本集团于各报告期末按公平价值计量其投

资物业及股权投资。公平价值为巿场参与

者于计量日期在有序交易中出售资产所收

取之价格或转让负债所支付之价格。公平

价值计量乃根据假设出售资产或转让负债

之交易于资产或负债主要巿场或（在缺乏

主要巿场情况下）最具优势巿场进行而作

出。主要及最具优势巿场须为本集团可进

入之巿场。资产或负债之公平价值乃按假

设巿场参与者于资产或负债定价时会以最

佳经济利益行事计量。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Fair value measurement (continued)

A fair value measurement of a non-financial aset takes into

acount a market participant’s ability to generate economic

benefits by using the aset in its highest and best use or by

seling it to another market participant that would use the aset

in its highest and best use.

The Group uses valuation techniques that are apropriate in

the circumstances and for which suficient data are available to

measure fair value, maximising the use of relevant observable

inputs and minimising the use of unobservable inputs.

Al asets and liabilities for which fair value is measured or

disclosed in the financial statements are categorised within the

fair value hierarchy, described as folows, 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 active

markets for identical asets or liabilities

Level 2 — based on valuation techniques for which the

lowest level input that is significant to the fair

value measurement is observable, either directly

or indirectly

Level 3 — based on valuation techniques for which the

lowest level input that is significant to the fair

value measurement is unobservable

For asets and liabilities that are recognised in the financial

statements on a recuring basis, the Group determines whether

transfers have ocured betwen levels in the hierarchy by

reasesing categorisation (based on the lowest level input that

is significant to the fair value measurement as a whole) at the

end of each reporting period.

2.4 主要会计政策概要（续）

公平价值计量（续）

非财务资产之公平价值计量须计及巿场参

与者能自最大限度使用该资产达致最佳用

途，或将该资产出售予将最大限度使用该

资产达致最佳用途之其他巿场参与者所产

生之经济效益。

本集团采纳适用于不同情况且具备充分数

据以供计量公平价值之估值方法，以尽量

使用相关可观察输入数据及尽量减少使用

不可观察输入数据。

所有载于本财务报表计量或披露之资产及

负债乃基于对公平价值计量整体而言属重

大之最低级输入数据按以下公平价值架构

分类：

第一级－基于相同资产或负债于活跃

巿场之报价（未经调整）

第二级－基于对公平价值计量而言属

重大之可观察（直接或间接）

最低级输入数据之估值技术

第三级－基于对公平价值计量而言属

重大之不可观察最低级输入

数据之估值技术

就按经常性基准于本财务报表确认之资产

及负债而言，本集团透过于各报告期末重

新评估分类（基于对公平价值计量整体而

言属重大之最低级输入数据）确定是否发

生不同等级转移。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Impairment of non-financial asets

Where an indication of impairment exists, or when anual

impairment testing for an aset is required (other than

inventories, completed properties for sale, properties under

development, financial asets, defered tax asets and

investment properties), the aset’s recoverable amount is

estimated. An aset’s recoverable amount is the higher of the

aset’s or cash-generating unit’s value-in-use and its fair value

les costs of disposal, and is determined for an individual aset,

unles the aset does not generate cash inflows that are largely

independent of those from other asets or groups of asets,

in which case the recoverable amount is determined for the

cash- generating unit to which the aset belongs. In testing a

cash-generating unit for impairment, a portion of the carying

amount of a corporate aset (e.g., a headquarters building)

is alocated to an individual cash-generating unit if it can be

alocated on a reasonable and consistent basis or, otherwise, to

the smalest group of cash-generating units.

An impairment los is recognised only if the carying amount

of an aset exceds its recoverable amount. In asesing value-

in-use, the estimated future cash flows are discounted to their

present value using a pre-tax discount rate that reflects curent

market asesments of the time value of money and the risks

specific to the aset. An impairment los is charged to the

statement of profit or los in the period in which it arises in

those expense categories consistent with the function of the

impaired aset.

An asesment is made at the end of each reporting period

as to whether there is an indication that previously recognised

impairment loses may no longer exist or may have decreased.

If such an indication exists, the recoverable amount is estimated.

A previously recognised impairment los of an aset other than

godwil is reversed only if there has ben a change in the

estimates used to determine the recoverable amount of that

aset, but not to an amount higher than the carying amount

that would have ben determined (net of any depreciation/

amortisation) had no impairment los ben recognised for the

aset in prior years. A reversal of such an impairment los is

credited to the statement of profit or los in the period in which

it arises.

2.4 主要会计政策概要（续）

非财务资产减值

倘出现减值迹象，或当需要对资产（存

货、待售已落成物业、发展中物业、财务

资产、递延税项资产及投资物业除外）进

行年度减值测试，则须估计资产之可收回

价值。资产之可收回价值按资产或之使用

价值，以及其公平价值减出售成本之较高

者计算，并就各个别资产而厘订，除非资

产并未能在大致独立于其他资产或组别资

产之情况下赚取现金流入，在此情况下，

须厘订资产所属之现金产生单位之可收回

金额。在测试现金产生单位是否减值时，

倘公司资产（例如︰总部大楼）可按合理一

致标准分配，则其账面值部分配至独立

现金产生单位，否则分配至最细组别的现

金产生单位。

减值亏损仅于资产之账面值超过其可收回

数额时确认。于评估使用价值时使用反映

当时市场对货币时间值以及与资产相关之

特定风险之除税前折现率折现出估计未来

现金流量之现值。减值亏损按该减值资产

之功能所属开支分类于其产生之期间在损

益表中支销。

于各报告期末，将评估是否有迹象显示之

前确认之减值亏损已不会出现或可能已减

少。倘出现有关迹象，则须估计可收回之

金额。之前确认之资产（商誉除外）减值亏

损只能于用以厘订资产之可收回数额之估

计出现变动始能拨回，惟该数额不得超过

假设有关资产于过往年度并未有确认减值

亏损而予以厘订之账面值（扣除任何折旧

╱摊销）。拨回之减值亏损乃于其产生之

期间计入损益表。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Related parties

A 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;

(i) has significant influence over the Group; or

(i) is a member of the key management personel of

the Group or of a parent of the Group;

(b) the party is an entity where any of the folowing conditions

aplies:

(i) the entity and the Group are members of the same

group;

(i) one entity is an asociate or joint venture of the

other entity (or of a parent, subsidiary or felow

subsidiary of the other entity);

(i) the entity and the Group are joint ventures of the

same third party;

(iv) one entity is a joint venture of a third entity and the

other entity is an asociate of the third entity;

(v) the entity is a post-employment benefit plan for

the benefit of employes of either the Group or an

entity related to the Group;

(vi) the entity is controled or jointly controled by a

person identified in (a);

(vi) a person identified in (a)(i) has significant

influence over the entity or is a member of the key

management personel of the entity (or of a parent

of the entity); and

(vi) the entity, or any member of a group of which it is a

part, provides key management personel services

to the Group or to the parent of the Group.

2.4 主要会计政策概要（续）

关联人士

倘属以下情况，则该方被视为与本集团有

关联：

(a) 该方为一名人士或该人士之近亲，

而该人士

(i) 控制或共同控制本集团；

(i) 对本集团有重大影响；或

(i) 为本集团或本集团母公司之主

要管理层成员；

或

(b) 该方为实体，而该实体符合下列任

何条件：

(i) 该实体与本集团属同一集团之

成员；

(i) 一间实体为另一实体之联营公

司或合营企业（或另一实体之

母公司、附属公司或同系附属

公司）；

(i) 该实体与本集团均为同一第三

方之合营企业；

(iv) 一间实体为第三方实体之合营

企业，而另一实体为该第三方

实体之联营公司；

(v) 该实体为本集团或与本集团有

关联之实体就雇员利益设立之

离职后福利计划；

(vi) 该实体受(a)所识别人士控制或

受共同控制；

(vi) 于(a)(i)所识别人士对该实体有

重大影响力或属该实体（或该

实体之母公司）主要管理层成

员；及

(vi) 该实体或其任何集团成员公司

提供主要管理人员服务予本集

团或本集团之母公司。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Property, plant and equipment and depreciation

Property, plant and equipment, other than construction in

progres, are stated at cost les acumulated depreciation and

any impairment loses. The cost of an item of property, plant

and equipment comprises its purchase price and any directly

atributable costs of bring the aset to its working condition and

location for its intended use.

Expenditure incured after items of property, plant and

equipment have ben put into operation, such as repairs and

maintenance, is normaly charged to the statement of profit or

los in the period in which it is incured. In situations where the

recognition criteria are satisfied, the expenditure for a major

inspection is capitalised in the carying amount of the aset as

a replacement. Where significant parts of property, plant and

equipment are required to be replaced at intervals, the Group

recognises such parts as individual asets with specific useful

lives and depreciates them acordingly.

Changes in the values of property, plant and equipment are

dealt with as movements in the aset revaluation reserve. If

the total of this reserve is insuficient to cover a deficit, on an

individual aset basis, the exces of the deficit is charged to the

statement of profit or los. Any subsequent revaluation surplus

is credited to the statement of profit or los to the extent of

the deficit previously charged. On disposal of a revalued aset,

the relevant portion of the aset revaluation reserve realised

in respect of previous valuations is transfered to acumulated

loses as a movement in reserves.

2.4 主要会计政策概要（续）

物业、厂房及设备及折旧

物业、厂房及设备（在建工程除外）乃按成

本扣除累计折旧及任何减值亏损入账。物

业、厂房及设备之成本值包括其购入价及

令资产达致符合拟定用途之操作状况及运

到使用地点之任何直接应计费用。

在物业、厂房及设备项目投产后产生之开

支，例如维修及保养，通常在产生之期间

从损益表扣除。如满足确认标准，大型检

修开支将当作更换进行资本化，列入资产

之账面值。在物业、厂房及设备之重要部

分需要定期更换时，本集团会将这些部分

作为具有特定可使用期限之个别资产进行

确认，并将彼等相应折旧。

物业、厂房及设备之价值变动作为资产重

估储备之变动处理。倘若按每项资产为基

准，储备总额不足以弥补亏绌时，则多出

之亏绌于损益表扣除。其后之重估盈余乃

计入损益表，惟以先前扣除之亏绌为限。

出售重估资产时，资产重估储备中就以往

估值实现之部分乃转入累计亏损，作为储

备之变动。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Property, plant and equipment and depreciation

(continued)

Depreciation is calculated on the straight-line basis to write of

the cost of each item of property, plant and equipment to its

residual value over its estimated useful life. The principal anual

rates used for this purpose are as folows:

Frehold land outside Hong KongNot depreciated

BuildingsOver the shorter of the

lease terms or 50 years

Leasehold improvementsOver the shorter of

the lease terms or

4.5% to 20%

Furniture, fixtures and18% to 20%

ofice equipment

Motor vehicles10% to 33%

Gaming equipment and

acesories

20%

Structure and other facilities2% to 33%

Where parts of an item of property, plant and equipment have

diferent useful lives, the cost of that item is alocated 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 apropriate, at least at

each financial year end.

An item of property, plant and equipment including any

significant part initialy recognised is derecognised upon

disposal or when no future economic benefits are expected

from its use or disposal. Any gain or los on disposal or

retirement recognised in the statement of profit or los in the

year the aset is derecognised is the diference betwen the net

sales proceds and the carying amount of the relevant aset.

Construction in progres represents buildings and asets

under construction, which is stated at cost les any impairment

loses, and is not depreciated. Cost comprises the direct costs

of construction and capitalised borowing costs on related

borowed funds during the period of construction. Construction

in progres is reclasified to the apropriate category of

property, plant and equipment when completed and ready for

use.

2.4 主要会计政策概要（续）

物业、厂房及设备及折旧（续）

折旧按各项物业、厂房及设备之估计可使

用年期以直线法计算，以撇销成本至其剩

余价值。就此而言，所采用之主要年率如

下：

香港以外之

永久业权土地

不予折旧

楼宇按租赁期或50年之

较短者

租赁物业装修按租赁期或4.5%至

20%之较短者

家私、装置及18%至20%

办公室设备

汽车10%至33%

博彩设备及配件20%

结构物及其他设施2%至33%

倘物业、厂房及设备项目之各部分有不同

之可使用年期，此项目各部分成本将按合

理之基础分配，而每部分将作个别折旧。

余值、可使用年期及折旧法乃最少于各财

政年度完结时予以检讨，并在有需要时作

出调整。

物业、厂房及设备项目及于初步确认之任

何重要部分于出售或当预期不会从其使用

或出售获取未来经济利益时不再确认。物

业、厂房及设备出售或报废所产生之收益

或亏损按售出净额减去该等资产账面净值

后之差额于本年度损益表确认。

在建工程指在建楼宇及资产，乃按成本减

任何减值亏损列账，且不予折旧。成本包

括建筑期间之直接建筑成本及有关借贷资

金之资本化借贷成本。在建工程于落成及

可供使用时重新分类至适当之物业、厂房

及设备类别。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Investment properties

Investment properties are interests in land and buildings held

to earn rental income and/or for capital apreciation, rather

than for use in the production or suply of gods or services or

for administrative purposes; or for sale in the ordinary course

of busines. Such properties are measured initialy at cost,

including transaction costs. Subsequent to initial recognition,

investment properties are stated at fair value, which reflects

market conditions at the end of the reporting period.

Gains or loses arising from changes in the fair values of

investment properties are included in the statement of profit or

los in the year in which they arise.

Any gains or loses on the retirement or disposal of an

investment property are recognised in the statement of profit or

los in the year of the retirement or disposal.

For a transfer from investment properties to owner-ocupied

properties, the demed cost of a property for subsequent

acounting is its fair value at the date of change in use. If a

property ocupied by the Group as an owner-ocupied property

becomes an investment property, the Group acounts for such

property in acordance with the policy stated under “Property,

plant and equipment and depreciation” for owned property up

to the date of change in use, and any diference at that date

betwen the carying amount and the fair value of the property

is acounted for as a revaluation in acordance with the policy

stated under “Property, plant and equipment and depreciation”

above.

2.4 主要会计政策概要（续）

投资物业

投资物业指为赚取租金收入及╱或作资本

增值（而非就生产或供应商品或服务或就

行政目的；或就于日常业务中销售）而持

有之土地及楼宇中之权益。有关物业初步

按成本（包括交易成本）计量。于初步确认

后，投资物业按公平价值列账，以反映于

报告期间结算日之市况。

投资物业公平价值变动产生之收益或亏损

于产生年度计入损益表。

投资物业报废或出售产生之任何收益或亏

损于其报废或出售年度于损益表确认。

就投资物业转拨至自用物业而言，一项物

业后续会计处理之视作成本为其于变更用

途日期之公平价值。倘本集团作为自用物

业占用之物业成为投资物业，则本集团根

据「物业、厂房及设备以及折旧」项下政策

将有关自用物业入账，直至变更用途日期

为止。根据上述「物业、厂房及设备以及

折旧」项下政策，该物业当日账面值与公

平价值之间任何差额入账列为重估。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Properties under development and completed

properties for sale

Properties under development and completed properties for

sale are stated at the lower of cost and net realisable value.

Development cost of properties comprises cost of land use

rights, construction costs and borowing costs incured during

the construction period. Once the construction or development

of these properties is completed, these properties are

reclasified to the apropriate categories of asets. If a property

under development is intended to be redeveloped into an

owner-ocupied property, it is transfered to construction in

progres at the carying amount.

Net realisable value takes into acount the price ultimately

expected to be realised, les aplicable variable seling

expenses and the anticipated costs to completion.

Properties under development and completed properties for

sale are clasified as curent asets unles the construction

period of the relevant property development project is

expected to complete beyond normal operating cycle.

Intangible asets (other than godwil)

Intangible asets acquired separately are measured on initial

recognition at cost. The cost of intangible asets acquired

in a busines combination is the fair value at the date of

acquisition. The useful lives of intangible asets are asesed to

be either finite or indefinite. Intangible asets with finite lives

are subsequently amortised over the useful economic life and

asesed for impairment whenever there is an indication that

the intangible aset may be impaired. The amortisation period

and the amortisation method for an intangible aset with a finite

useful life are reviewed at least at each financial year end.

Intangible asets with indefinite useful lives are tested

for impairment anualy either individualy or at the cash-

generating unit level. Such intangible asets are not amortised.

The useful life of an intangible aset with an indefinite life is

reviewed anualy to determine whether the indefinite life

asesment continues to be suportable. If not, the change in

the useful life asesment from indefinite to finite is acounted

for on a prospective basis.

2.4 主要会计政策概要（续）

发展中物业及待售已落成物业

发展中物业及待售已落成物业按成本与可

变现净值之较低者列账。物业发展成本包

括土地使用权成本、建筑成本及于建筑期

间所产生之借贷成本。该等物业在建筑或

发展完成后重新分类至适当之资产类别。

倘一项发展中物业拟开发成业主自用物

业，则其将按账面值转拨至在建工程。

可变现净值计及预期最终变现之价格，减

适用可变销售开支及预期落成本。

发展中物业及待售已落成物业分类为流动

资产，惟相关物业发展项目之建筑期预计

超出正常经营周期者除外。

无形资产（商誉除外）

个别收购之无形资产于初步确认时按成本

计量。于业务合并中收购之无形资产之成

本为收购日之公平价值。无形资产可分为

有限或无限可使用年期。具有限年期之无

形资产其后按可使用经济年期摊销，并于

该无形资产出现可能减值迹象时作减值评

估。具有限可使用年期之无形资产之摊销

期限及摊销方法至少在各财政年度结算日

进行检讨。

具无限可使用年期之无形资产按个别或现

金产生单位之水平每年进行减值测试。该

等无形资产并不予以摊销。具无限可使用

年期之无形资产之可使用年期会每年检

讨，以厘定是否仍然适合评估为无限可使

用年期。倘不适用，则可使用年期之评估

自此由按无限年期更改为按有限年期计

量。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Intangible asets (other than godwil) (continued)

Gaming licenses

Gaming licenses acquired in busines combinations are

recognised at fair value at the acquisition date. Gaming licenses

have indefinite useful lives and are caried at cost les any

impairment loses.

Trademarks and patents

Trademarks and patents acquired in a busines combination

are recognised at fair value at the acquisition date. Trademarks

and patents have finite useful lives and are caried at cost

les acumulated amortisation and any impairment loses.

Amortisation is calculated using the straight-line method to

alocate the cost of trademarks and patents over their estimated

useful lives of 7 to 10 years.

Leases

The Group aseses at contract inception whether a contract

is, or contains, a lease. A contract is, or contains, a lease if the

contract conveys the right to control the use of an identified

aset for a period of time in exchange for consideration.

Group as a lese

The Group aplies a single recognition and measurement

aproach for al leases, except for short-term leases and leases

of low-value asets. The Group recognises lease liabilities to

make lease payments and right-of-use asets representing the

right to use the underlying asets.

2.4 主要会计政策概要（续）

无形资产（商誉除外）（续）

博彩牌照

因业务合并而购入之博彩牌照按收购日期

之公平价值确认。无限可使用年期之博彩

牌照按成本减任何减值亏损列账。

商标及专利

因业务合并而购入之商标及专利按收购日

期之公平价值确认。有限可使用年期之商

标及专利按成本减累计摊销及任何减值亏

损列账。摊销乃于其7至10年之估计可使

用年期以直线法分配商标及专利之成本计

算。

租赁

本集团于合约开始时评估合约是否属租赁

或包含租赁。倘合约为换取代价而给予在

一段时间内控制已识别资产使用之权利，

则该合约属租赁或包含租赁。

本集团作为承租人

本集团对所有租赁（惟短期租赁及低价值

资产租赁除外）采取单一确认及计量方

法。本集团确认租赁负债以作出租赁款

项，而使用权资产指使用相关资产之权

利。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Leases (continued)

Group as a lese (continued)

(a) Right-of-use asets

Right-of-use asets are recognised at the comencement

date of the lease (that is the date the underlying aset

is available for use). Right-of-use asets are measured

at cost, les any acumulated depreciation and any

impairment loses, and adjusted for any remeasurement

of lease liabilities. The cost of right-of-use asets includes

the amount of lease liabilities recognised, initial direct

costs incured, and lease payments made at or before the

comencement date les any lease incentives received.

Right-of-use asets are depreciated on a straight-line basis

over the shorter of the lease terms and the estimated

useful lives of the asets as folows:

BuildingsOver the lease terms

Motor vehiclesOver the lease terms

If ownership of the leased aset transfers to the Group by

the end of the lease term or the cost reflects the exercise

of a purchase option, depreciation is calculated using the

estimated useful life of the aset.

2.4 主要会计政策概要（续）

租赁（续）

本集团作为承租人（续）

(a) 使用权资产

使用权资产于租赁开始日期（即相关

资产可供使用当日）予以确认。使用

权资产按成本减任何累计折旧及减

值亏损计量，并就任何重新计量租

赁负债作出调整。使用权资产成本

包括已确认租赁负债之款额、已产

生初始直接成本及于开始日期或之

前作出之租赁款项减任何已收租赁

奖励。使用权资产于租赁期与资产

估计可使用期限两者间之较短者按

直线法折旧如下：

楼宇按租赁期

汽车按租赁期

倘租赁资产之所有权于租赁期结束

时转移至本集团或成本反映购买选

择权获行使，则折旧按资产之估计

可使用期限计算。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Leases (continued)

Group as a lese (continued)

(b) Lease liabilities

Lease liabilities are recognised at the comencement

date of the lease at the present value of lease payments

to be made over the lease term. The lease payments

include fixed payments (including in-substance fixed

payments) les any lease incentives receivable, variable

lease payments that depend on an index or a rate, and

amounts expected to be paid under residual value

guarantes. The lease payments also include the exercise

price of a purchase option reasonably certain to be

exercised by the Group and payments of penalties for

termination of a lease, if the lease term reflects the Group

exercising the option to terminate the lease. The variable

lease payments that do not depend on an index or a rate

are recognised as an expense in the period in which the

event or condition that trigers the payment ocurs.

In calculating the present value of lease payments,

the Group uses its incremental borowing rate at the

lease comencement date because the interest rate

implicit in the lease is not readily determinable. After the

comencement date, the amount of lease liabilities is

increased to reflect the acretion of interest and reduced

for the lease payments made. In adition, the carying

amount of lease liabilities is remeasured if there is a

modification, a change in the lease term, a change in

lease payments (e.g., a change to future lease payments

resulting from a change in an index or rate) or a change in

asesment of an option to purchase the underlying aset.

The Group aplies the short-term lease recognition

exemption to its short-term leases of machinery, motor

vehicle and ofice equipment (that is those leases

that have a lease term of 12 months or les from the

comencement date and do not contain a purchase

option). It also aplies the recognition exemption for

leases of low-value asets to leases of ofice equipment

that are considered to be of low value.

Lease payments on short-term leases and leases of low-

value asets are recognised as an expense on a straight-

line basis over the lease term.

2.4 主要会计政策概要（续）

租赁（续）

本集团作为承租人（续）

(b) 租赁负债

租赁负债于租赁开始日期以租赁期

内作出之租赁款项现值确认。租赁

款项包括定额付款（含实质定额款

项）减任何应收租赁奖励款项、取决

于指数或利率之可变租赁款项以及

预期根据剩余价值担保下支付之金

额。租赁款项亦包括本集团合理确

定行使之购买选择权之行使价及倘

在租赁期内反映本集团正行使终止

租赁选择权时，有关终止租赁支付

之罚款。并非取决于指数或利率之

可变租赁款项在出现触发付款之事

件或条件之期间内确认为支出。

于计算租赁款项之现值时，由于租

赁内所含利率不易厘定，故本集团

应用租赁开始日期之增量借款利率

计算。于开始日期后，租赁负债金

额之增加反映利息之增加，并因支

付租赁款项而减少。此外，如有修

改、租期变更、租赁款项变更（例如

指数或比率变更导致未来租赁款项

发生变化）或评估购买相关资产选择

权之变更，则重新计量租赁负债之

账面值。

本集团将短期租赁确认豁免应用至

其机器、汽车及办公设备之短期租

赁（即自租赁开始日期起计租期为12

个月或以下，并且不包含购买选择

权之租赁）。其亦将低价值资产租赁

确认豁免应用至被认为具有低价值

之办公室设备租赁。

短期租赁及低价值资产租赁的租赁

付款按直线法于租期内确认为开支。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Leases (continued)

Group as a lesor

When the Group acts as a lesor, it clasifies at lease inception

(or when there is a lease modification) each of its leases as

either an operating lease or a finance lease.

Leases in which the Group does not transfer substantialy

al the risks and rewards incidental to ownership of an aset

are clasified as operating leases. When a contract contains

lease and non-lease components, the Group alocates the

consideration in the contract to each component on a relative

stand-alone seling price basis. Rental income is acounted for

on a straight-line basis over the lease terms and is included in

revenue in the statement of profit or los due to its operating

nature. Initial direct costs incured in negotiating and aranging

an operating lease are aded to the carying amount of the

leased aset and recognised over the lease term on the same

basis as rental income. Contingent rents are recognised as

revenue in the period in which they are earned.

Investments and other financial asets

Initial recognition and measurement

Financial asets are clasified, at initial recognition, as

subsequently measured at amortised cost, fair value through

other comprehensive income, and fair value through profit or

los.

The clasification of financial asets at initial recognition

depends on the financial aset’s contractual cash flow

characteristics and the Group’s busines model for managing

them. With the exception of trade receivables that do not

contain a significant financing component or for which the

Group has aplied the practical expedient of not adjusting the

efect of a significant financing component, the Group initialy

measures a financial aset at its fair value, plus in the case of a

financial aset not at fair value through profit or los, transaction

costs. Trade receivables that do not contain a significant

financing component or for which the Group has aplied the

practical expedient are measured at the transaction price

determined under HKFRS 15 in acordance with the policies set

out for “Revenue recognition” below.

2.4 主要会计政策概要（续）

租赁（续）

本集团作为出租人

当本集团作为出租人时，在租赁开始时

（或发生租赁变更时）将其各项租赁分类为

经营租赁或融资租赁。

所有本集团并未转让资产所有权所附带之

绝大部分风险及回报之租赁归类为经营租

赁。当合约包含租赁及非租赁部分时，本

集团以相对独立之售价将代价分配至合约

各部分。租金收入于租期内按直线法列账

并因其经营性质而计入损益表之收益内。

于磋商及安排经营租赁时产生之初始直接

成本乃计入租赁资产之账面值，并于租期

内按相同方法确认为租金收入。或然租金

乃于所赚取之期间内确认为收益。

投资及其他财务资产

初步确认及计量

财务资产于初步确认时（其后则按摊销成

本计量）分类为按公平价值计入其他全面

收益及按公平价值计入损益。

财务资产于初始确认时之分类取决于财务

资产之合约现金流量特征及本集团管理该

等财务资产之业务模式。除不包含重大融

资部分或本集团已就此应用不对重大融资

部分所产生影响作出调整之可行权宜方法

之应收贸易款项外，本集团初步按其公平

价值（倘并非按公平价值计入损益之财务

资产，则另加交易成本）计量财务资产。

根据下文所载「收益确认」之政策，不包含

重大融资成分或本集团已就此应用可行权

宜方法之应收贸易款项按香港财务报告准

则第15号厘定之交易价格计量。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Investments and other financial asets (continued)

Initial recognition and measurement (continued)

In order for a financial aset to be clasified and measured

at amortised cost or fair value through other comprehensive

income, it neds to give rise to cash flows that are solely

payments of principal and interest (“SPI”) on the principal

amount outstanding. Financial asets with cash flows that are

not SPI are clasified and measured at fair value through profit

or los, irespective of the busines model.

The Group’s busines model for managing financial asets refers

to how it manages its financial asets in order to generate cash

flows. The busines model determines whether cash flows wil

result from colecting contractual cash flows, seling the financial

asets, or both. Financial asets clasified and measured at

amortised cost are held within a busines model with the

objective to hold financial asets in order to colect contractual

cash flows, while financial asets clasified and measured at fair

value through other comprehensive income are held within a

busines model with the objective of both holding to colect

contractual cash flows and seling. Financial asets which are not

held within the aforementioned busines models are clasified

and measured at fair value through profit or los.

Al regular way purchases and sales of financial asets are

recognised on the trade date, that is, the date that the Group

comits to purchase or sel the aset. Regular way purchases

or sales are purchases or sales of financial asets that require

delivery of asets within the period generaly established by

regulation or convention in the marketplace.

2.4 主要会计政策概要（续）

投资及其他财务资产（续）

初步确认及计量（续）

为使财务资产按摊销成本或按公平价值计

入其他全面收益分类及计量，需就未偿还

本金产生纯粹支付本金及利息（「纯粹支付

本金及利息」）之现金流量。现金流量并

非纯粹支付本金及利息之财务资产分类为

按公平价值计入损益计量，而不论业务模

式。

本集团管理财务资产之业务模式指其如何

管理其财务资产以产生现金流量。业务模

式确定现金流量是否来自收集合约现金流

量、出售财务资产，或两者兼有。以摊销

成本分类及计量之财务资产于旨在持有财

务资产以收取合约现金流量之业务模式中

持有，而按公平价值计入其他全面收益分

类及计量之财务资产于旨在持有财务资产

以收取合约现金流量以及出售财务资产之

业务模式中持有。并非以上述业务模式持

有之财务资产按公平价值计入损益计量。

所有以正常方式进行之财务资产买卖于交

易日期（即本集团承诺购买或出售该资产

之日期）确认。正常方式买卖指按照一般

市场规例或惯例订定之期间内交付资产之

财务资产买卖。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Investments and other financial asets (continued)

Subsequent measurement

The subsequent measurement of financial asets depends on

their clasification as folows:

Financial asets at amortised cost (debt instruments)

Financial asets at amortised cost are subsequently measured

using the efective interest method and are subject to

impairment. Gains and loses are recognised in the statement

of profit or los when the aset is derecognised, modified or

impaired.

Financial asets designated at fair value through other

comprehensive income (equity investments)

Upon initial recognition, the Group can elect to clasify

irevocably its equity investments as equity investments

designated at fair value through other comprehensive income

when they met the definition of equity under HKAS 32

Financial Instruments: Presentation and are not held for trading.

The clasification is determined on an instrument-by-instrument

basis.

Gains and loses on these financial asets are never recycled

to the statement of profit or los. Dividends are recognised

as other income in the statement of profit or los when the

right of payment has ben established, it is probable that the

economic benefits asociated with the dividend wil flow to

the Group and the amount of the dividend can be measured

reliably, except when the Group benefits from such proceds

as a recovery of part of the cost of the financial aset, in

which case, such gains are recorded in other comprehensive

income. Equity investments designated at fair value through

other comprehensive income are not subject to impairment

asesment.

2.4 主要会计政策概要（续）

投资及其他财务资产（续）

其后计量

财务资产按其分类进行之其后计量如下：

按摊销成本列账之财务资产（债务工具）

按摊销成本列账之财务资产其后使用实际

利率法计量，并可能受减值影响。当资产

终止确认、修订或减值时，收益及亏损于

损益表确认。

指定为按公平价值计入其他全面收益之财

务资产（股权投资）

于初步确认时，本集团可选择于股权投资

符合香港会计准则第32号财务工具：呈报

项下之股本定义且并非持作买卖时，将其

股权投资不可撤回地分类为指定为按公平

价值计入其他全面收益之股权投资。分类

乃按个别工具基准厘定。

该等财务资产之收益及亏损概不会被重新

计入损益表。当确立派付权利时，股息于

损益表中确认为其他收入，与股息有关之

经济利益可能会流向本集团及股息金额能

够可靠计量，惟当本集团于作为收回财务

资产一部分成本之所得款项中获益时则除

外，于此等情况下，该等收益于其他全面

收益入账。指定为按公平价值计入其他全

面收益之股权投资毋须进行减值评估。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Investments and other financial asets (continued)

Financial asets at fair value through profit or los

Financial asets at fair value through profit or los are caried in

the statement of financial position at fair value with net changes

in fair value recognised in the statement of profit or los.

This category includes derivative instruments and equity

investments which the Group had not irevocably elected to

clasify at fair value through other comprehensive income.

Dividends on equity investments clasified as financial asets

at fair value through profit or los are also recognised as other

income in the statement of profit or los when the right of

payment has ben established, it is probable that the economic

benefits asociated with the dividend wil flow to the Group and

the amount of the dividend can be measured reliably.

Derecognition of financial asets

A financial aset (or, where aplicable, a part of a financial

aset or part of a group of similar financial asets) is primarily

derecognised (i.e., removed from the Group’s consolidated

statement of financial position) when:

‧ the rights to receive cash flows from the aset have

expired; or

‧ the Group has transfered its rights to receive cash flows

from the aset or has asumed an obligation to pay the

received cash flows in ful without material delay to a third

party under a “pas-through” arangement; and either

(a) the Group has transfered substantialy al the risks

and rewards of the aset, or (b) the Group has neither

transfered nor retained substantialy al the risks and

rewards of the aset, but has transfered control of the

aset.

2.4 主要会计政策概要（续）

投资及其他财务资产（续）

按公平价值计入损益之财务资产

按公平价值计入损益之财务资产按公平价

值于财务状况表列账，而公平价值变动净

额于损益表中确认。

该类别包括本集团并无不可撤回地选择按

公平价值计入其他全面收益进行分类之衍

生工具及股权投资。分类为按公平价值计

入损益之财务资产之股权投资之股息在派

付权利确立时亦于损益表中确认为其他收

入，与股息有关之经济利益可能会流向本

集团及股息金额能够可靠计量。

终止确认财务资产

财务资产或（如适用）一项财务资产之一部

分或一组同类财务资产之一部分主要在下

列情况下终止确认（即自本集团综合财务

状况表移除）：

‧ 收取该项资产所得现金流量之权利

已届满；或

‧ 本集团已转让收取该项资产所得现

金流量之权利，或已透过一项「转

付」安排，承担在未有严重延误之

情况下，向一名第三方支付所有已

收现金流量之责任；及(a)本集团已

转让该项资产之绝大部分风险及回

报，或(b)本集团并无转让或保留该

项资产绝大部分风险及回报，但已

转让该项资产之控制权。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Derecognition of financial asets (continued)

When the Group has transfered its rights to receive cash flows

from an aset or has entered into a pas-through arangement,

it evaluates if, and to what extent, it has retained the risk

and rewards of ownership of the aset. When it has neither

transfered nor retained substantialy al the risks and rewards

of the aset nor transfered control of the aset, the Group

continues to recognise the transfered aset to the extent of the

Group’s continuing involvement. In that case, the Group also

recognises an asociated liability. The transfered aset and the

asociated liability are measured on a basis that reflects the

rights and obligations that the Group has retained.

Continuing involvement that takes the form of a guarante over

the transfered aset is measured at the lower of the original

carying amount of the aset and the maximum amount of

consideration that the Group could be required to repay.

Impairment of financial asets

The Group recognises an alowance for expected credit los(es)

(“ECL(s)”) for al debt instruments not held at fair value through

profit or los. ECLs are based on the diference betwen the

contractual cash flows due in acordance with the contract and

al the cash flows that the Group expects to receive, discounted

at an aproximation of the original efective interest rate. The

expected cash flows wil include cash flows from the sale of

colateral held or other credit enhancements that are integral to

the contractual terms.

General aproach

ECLs are recognised in two stages. For credit exposures for

which there has not ben a significant increase in credit risk

since initial recognition, ECLs are provided for credit loses

that result from default events that are posible within the next

12 months (a 12-month ECL). For those credit exposures for

which there has ben a significant increase in credit risk since

initial recognition, a los alowance is required for credit loses

expected over the remaining life of the exposure, irespective

of the timing of the default (a lifetime ECL).

2.4 主要会计政策概要（续）

终止确认财务资产（续）

倘本集团已转让其从一项资产收取现金流

量之权利或已订立一项转付安排，其将评

估是否保留资产拥有权之风险及回报及保

留程度。倘其并无转让或保留该项资产之

绝大部分风险及回报，且并无转让该项资

产之控制权，本集团将继续确认该已转让

资产，惟以本集团持续参与者为限。于该

情况下，本集团亦确认一项相关负债。已

转让之资产及相关负债乃按反映本集团已

保留权利及责任之基准计量。

本公司就已转让资产作出保证之持续参

与，乃以该项资产之原账面值及本集团或

须偿还之代价数额上限（以较低者为准）计

量。

财务资产减值

本集团就并非按公平价值计入损益持有之

所有债务工具确认预期信贷亏损（「预期信

贷亏损」）拨备。预期信贷亏损乃基于根据

合约到期之合约现金流量与本集团预期收

取之所有现金流量间之差额厘定，并以原

实际利率之近似值贴现。预期现金流量将

包括出售所持抵押之现金流量或组成合约

条款之其他信贷提升措施。

一般方法

预期信贷亏损分两个阶段确认。就自初步

确认以来并无显著增加之信贷风险而言，

会就未来十二个月内之可能发生违约事件

而产生之信贷亏损（十二个月预期信贷亏

损）计提预期信贷亏损拨备。就自初步确

认以已经显著增加之信贷风险而言，不论

何时发生违约，于余下风险年期内之预期

信贷亏损均须计提亏损拨备（全期预期信

贷亏损）。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Impairment of financial asets (continued)

General aproach (continued)

At each reporting date, the Group aseses whether the credit

risk on a financial instrument has increased significantly since

initial recognition. When making the asesment, the Group

compares the risk of a default ocuring on the financial

instrument as at the reporting date with the risk of a default

ocuring on the financial instrument as at the date of initial

recognition and considers reasonable and suportable

information that is available without undue cost or efort,

including historical and forward-loking information. The Group

considers that there has ben a significant increase in credit risk

when contractual payments are more than 180 days past due.

The Group considers a financial aset in default when

contractual payments are 180 days past due. However,

in certain cases, the Group may also consider a financial

aset to be in default when internal or external information

indicates that the Group is unlikely to receive the outstanding

contractual amounts in ful before taking into acount any credit

enhancements held by the Group. A financial aset is writen

of when there is no reasonable expectation of recovering the

contractual cash flows.

Financial asets at amortised cost are subject to impairment

under the general aproach and they are clasified within the

folowing stages for measurement of ECLs except for trade and

gaming receivables which aply the simplified aproach as

detailed below.

Stage 1 — Financial instruments for which credit risk has not

increased significantly since initial recognition

and for which the los alowance is measured at

an amount equal to 12-month ECLs

Stage 2 — Financial instruments for which credit risk has

increased significantly since initial recognition but

that are not credit-impaired financial asets and

for which the los alowance is measured at an

amount equal to lifetime ECLs

Stage 3 — Financial asets that are credit-impaired at the

reporting date (but that are not purchased or

originated credit-impaired) and for which the los

alowance is measured at an amount equal to

lifetime ECLs

2.4 主要会计政策概要（续）

财务资产减值（续）

一般方法（续）

于各报告日期，本集团评估自初步确认以

来财务工具之信贷风险是否大幅增加。进

行评估时，本集团将于报告日期财务工具

发生之违约风险与初步确认日起财务工具

发生之违约风险进行比较，并考虑毋须付

出不必要成本或精力而可得之合理且有理

据之资料，包括历史及前瞻性资料。本集

团认为，当约付款逾期超过180日，信贷

风险将显著增加。

倘合约付款逾期180日，则本集团认为财

务资产违约。然而，在若干情况下，倘内

部或外部资料反映，在并无计及任何现有

信贷提升措施前，本集团不大可能悉数收

到未偿还合约款项，则本集团亦可认为财

务资产违约。倘无法合理预期收回合约现

金流量，则撇销财务资产。

除下文所详述应用简化方法之应收贸易款

项及博彩应收款项外，按摊销成本列账之

财务资产均须根据一般方法予以减值，而

彼等在以下阶段分类以计量预期信贷亏

损。

第一阶段－信贷风险自初步确认以来并

无显著增加及所计量之亏损

拨备金额相等于十二个月预

期信贷亏损之财务工具

第二阶段－信贷风险自初步确认以已经

显著增加但并非属信贷减值

之财务资产及所计量之亏损

拨备金额相等于全期预期信

贷亏损之财务工具

第三阶段－于报告日期已属信贷减值

（但并非已购买或原属信贷

减值）及所计量之亏损拨备

金额相等于全期预期信贷亏

损之财务资产

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Impairment of financial asets (continued)

Simplified aproach

For trade and gaming receivables that do not contain a

significant financing component or when the Group aplies the

practical expedient of not adjusting the efect of a significant

financing component, the Group aplies the simplified aproach

in calculating ECLs. Under the simplified aproach, the Group

does not track changes in credit risk, but instead recognises a

los alowance based on lifetime ECLs at each reporting date.

The Group has established a provision matrix that is based on

its historical credit los experience, adjusted for forward-loking

factors specific to the debtors and the economic environment.

For trade and gaming receivables that contain a significant

financing component, the Group choses as its acounting

policy to adopt the general aproach in calculating ECLs with

policies as described above.

Financial liabilities

Initial recognition and measurement

Financial liabilities are clasified, at initial recognition, as loans

and borowings or payables as apropriate.

Al financial liabilities are recognised initialy at fair value and, in

the case of loans and borowings and payables, net of directly

atributable transaction costs.

The Group’s financial liabilities include trade and other

payables, lease liabilities, and interest-bearing bank borowing.

2.4 主要会计政策概要（续）

财务资产减值（续）

简化方法

就不包含重大融资部分之应收贸易及博彩

款项或倘本集团已应用不对重大融资部分

所产生影响作出调整之可行权宜方法而

言，本集团应用简化方法计算预期信贷亏

损。根据简化方法，本集团并无追溯信贷

风险变动，反而于各报告日期根据全期预

期信贷亏损确认亏损拨备。本集团已根据

其过往信贷亏损经验建立拨备矩阵，并按

债务人之特定前瞻性因素及经济环境作出

调整。

就包含重大融资部分之应收贸易款项及博

彩应收款项而言，本集团选择采纳一般方

法作为其会计政策，以按上述政策计算预

期信贷亏损。

财务负债

初步确认及计量

财务负债于初步确认时，按适用情况分类

为贷款及借贷或应付款项。

所有财务负债初步按公平价值确认，倘为

贷款及借贷以及应付款项，则扣除直接应

占交易成本。

本集团之财务负债包括应付贸易款项及其

他应付款项、租赁负债以及计息银行借

贷。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Financial liabilities (continued)

Subsequent measurement

The subsequent measurement of financial liabilities depends on

their clasification as folows:

Financial liabilities at amortised cost (loans and borowings)

After initial recognition, interest-bearing loans and borowings

are subsequently measured at amortised cost, using the

efective interest rate method unles the efect of discounting

would be imaterial, in which case they are stated at cost.

Gains and loses are recognised in the statement of profit or

los when the liabilities are derecognised as wel as through the

efective interest rate amortisation proces.

Amortised cost is calculated by taking into acount any discount

or premium on acquisition and fes or costs that are an integral

part of the efective interest rate. The efective interest rate

amortisation is included in finance costs in the statement of

profit or los.

Derecognition of financial liabilities

A financial liability is derecognised when the obligation under

the liability is discharged or canceled, or expires.

When an existing financial liability is replaced by another from

the same lender on substantialy diferent terms, or the terms of

an existing liability are substantialy modified, such an exchange

or modification is treated as a derecognition of the original

liability and a recognition of a new liability, and the diference

betwen the respective carying amounts is recognised in the

statement of profit or los.

2.4 主要会计政策概要（续）

财务负债（续）

其后计量

财务负债之其后计量取决于彼等以下之分

类情况：

按摊销成本计量之财务负债（贷款及借贷）

于初步确认后，计息贷款及借贷其后采用

实际利率法按摊销成本计量，除非折让影

响不大则另作别论，而在此情况下则按成

本列账。当负债终止确认，收益及亏损透

过实际利率摊销过程于损益表确认。

计算摊销成本时须计入收购时所产生之任

何折让或溢价及属实际利率组成部分之费

用或成本。实际利率摊销计入损益表之财

务成本。

终止确认财务负债

于负债项下责任获解除、注销或届满时，

则终止确认财务负债。

倘现有财务负债由同一放债人以另一项条

款迥异之负债所取代，或现有负债之条款

作出重大修订，则该类交换或修订将被视

为终止确认原负债及确认新负债处理，各

账面值间之差额会于损益表确认。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Ofseting of financial instruments

Financial asets and financial liabilities are ofset and the net

amount is reported in the statement of financial position if there

is a curently enforceable legal right to ofset the recognised

amounts and there is an intention to setle on a net basis, or to

realise the asets and setle the liabilities simultaneously.

Inventories

Inventories are stated at the lower of cost and net realisable

value. Cost is determined on the weighted average method.

Net realisable value is based on estimated seling prices les

any estimated costs to be incured to completion and disposal.

Cash and cash equivalents

For the purpose of the consolidated statement of cash flows,

cash and cash equivalents comprise cash on hand and demand

deposits, and short term highly liquid investments that are

readily convertible into known amounts of cash, are subject

to an insignificant risk of changes in value, and have a short

maturity of generaly within thre months when acquired, les

bank overdrafts which are repayable on demand and form an

integral part of the Group’s cash management. Bank deposits

which are restricted to use are included in “Restricted cash”.

Restricted cash is excluded from cash and cash equivalents

included in the consolidated statement of cash flows.

For the purpose of the consolidated statement of financial

position, cash and cash equivalents comprise cash on hand and

at banks, including term deposits, and asets similar in nature to

cash, which are not restricted as to use.

Provisions

A provision is recognised when a present obligation (legal

or constructive) has arisen as a result of a past event and it is

probable that a future outflow of resources wil be required to

setle the obligation, provided that a reliable estimate can be

made of the amount of the obligation.

When the efect of discounting is material, the amount

recognised for a provision is the present value at the end of

the reporting period of the future expenditures expected to be

required to setle the obligation. The increase in the discounted

present value amount arising from the pasage of time is

included in the statement of profit or los.

2.4 主要会计政策概要（续）

抵销财务工具

如目前有可执行的法定权利抵销已确认的

金额，且有意以净额结算，或同时确认资

产及清偿债务，则财务资产和财务负债被

抵销，净额于财务状况表中呈报。

存货

存货按成本与可变现净值之较低者列账。

成本按加权平均法厘定。可变现净值按估

计售价减任何估计完成及出售产生之成

本。

现金及现金等价物

就综合现金流量表而言，现金及现金等价

物包括手头现金及活期存款，以及可随时

兑换成已知金额现金、价值变动风险极低

且自购入时一般为期三个月减应要求偿还

之银行透支及属于本集团现金管理一部分

之短期高流动性投资。用途受限的银行存

款计入「受限制现金」。受限制现金不包

括在综合现金流量表的现金及现金等价物

内。

就综合财务状况报表而言，现金及现金等

价物包括用途不受限制之手头现金及银行

现金，包括定期存款及性质等同现金之资

产。

拨备

倘因过往事件导致现时责任（法定或推定）

而承担该责任可能导致日后资源之外流，

且责任金额能可靠估计，则确认拨备。

当有重大折现影响时，会就预期须用作偿

付责任之未来开支于报告期末确认其现值

以作拨备。因时间值所导致折现值之增

加金额会列入损益表。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Income tax

Income tax comprises curent and defered tax. Income tax

relating to items recognised outside profit or los is recognised

outside profit or los, either in other comprehensive income or

directly in equity.

Curent tax asets and liabilities are measured at the amount

expected to be recovered from or paid to the taxation

authorities, based on tax rates (and tax laws) that have ben

enacted or substantively enacted by the end of the reporting

period, taking into consideration interpretations and practices

prevailing in the countries in which the Group operates.

Defered tax is provided, using the liability method, on al

temporary diferences at the end of the reporting period

betwen the tax bases of asets and liabilities and their carying

amounts for financial reporting purposes.

Defered tax liabilities are recognised for al taxable temporary

diferences, except:

‧ when the defered tax liability arises from the initial

recognition of godwil or an aset or liability in a

transaction that is not a busines combination and, at the

time of the transaction, afects neither the acounting

profit nor taxable profit or los; and

‧ in respect of taxable temporary diferences asociated

with investments in subsidiaries, when the timing of the

reversal of the temporary diferences can be controled

and it is probable that the temporary diferences wil not

reverse in the foreseable future.

2.4 主要会计政策概要（续）

所得税

所得税包括即期及递延税项。与并非于损

益确认之项目有关之所得税不会于损益确

认，而在其他全面收益或直接于权益中确

认。

即期税项资产及负债按预期获税务机构退

回或向税务机构支付之款项计算。计算乃

基于报告期末已实行或已实际执行之税率

（及税法），亦考虑本集团经营所在国家现

行之诠释及惯例。

递延税项于报告期末按负债法就资产及负

债税基与财务报告所示账面值之所有暂时

差额拨备。

除下列情况外，递延税项负债会就所有应

课税暂时差额进行确认：

‧ 倘递延税项负债因初步确认商誉或

非业务合并交易之资产或负债而产

生，且于交易时不会影响会计溢利

或应课税溢利或亏损；及

‧ 就于附属公司之投资相关应课税暂

时差额而言，暂时差额之拨回时间

可控制，且将不会于可见未来拨回

暂时差额。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Income tax (continued)

Defered tax asets are recognised for al deductible temporary

diferences, and the caryforward of unused tax credits and any

unused tax loses. Defered tax asets are recognised to the

extent that it is probable that taxable profit wil be available

against which the deductible temporary diferences, and the

caryforward of unused tax credits and unused tax loses can be

utilised, except:

‧ when the defered tax aset relating to the deductible

temporary diferences arises from the initial recognition of

an aset or liability in a transaction that is not a busines

combination and, at the time of the transaction, afects

neither the acounting profit nor taxable profit or los;

and

‧ in respect of deductible temporary diferences asociated

with investments in subsidiaries, defered tax asets are

only recognised to the extent that it is probable that the

temporary diferences wil reverse in the foreseable

future and taxable profit wil be available against which

the temporary diferences can be utilised.

The carying amount of defered tax asets is reviewed at the

end of each reporting period and reduced to the extent that

it is no longer probable that suficient taxable profit wil be

available to alow al or part of the defered tax aset to be

utilised. Unrecognised defered tax asets are reasesed at the

end of each reporting period and are recognised to the extent

that it has become probable that suficient taxable profit wil

be available to alow al or part of the defered tax aset to be

recovered.

2.4 主要会计政策概要（续）

所得税（续）

递延税项资产于所有应课税暂时性差异、

未动用税务抵免及任何未动用税项亏损结

转中确认。倘可能有应课税溢利可供抵销

应课税暂时性差异及未动用税务抵免及未

动用税项亏损结转可动用时，则会确认递

延税项资产，惟下列情况除外：

‧ 倘递延税项资产有关初步确认非业

务合并交易之资产或负债所产生之

应课税暂时性差异，且于交易当时

不影响会计溢利或应课税溢利或亏

损；及

‧ 就于附属公司之投资相关之应课税

暂时性差异而言，递延税项资产仅

于可见未来可能拨回暂时差额，且

有应课税溢利以供抵销可动用暂时

差额时确认。

递延税项资产账面值于各报告期末检讨，

并扣减至不再有足够应课税溢利抵销全部

或部分将动用递延税项资产为止。相反，

如有足够应课税溢利以供抵销全部或部分

将收回递延税项资产，则会于各报告期末

重新评估未确认之递延税项资产并进行确

认。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Income tax (continued)

Defered tax asets and liabilities are measured at the tax rates

that are expected to aply to the period when the aset is

realised or the liability is setled, based on tax rates (and tax

laws) that have ben enacted or substantively enacted by the

end of the reporting period.

Defered tax asets and defered tax liabilities are ofset if

and only if the Group has a legaly enforceable right to set of

curent tax asets and curent tax liabilities and the defered tax

asets and defered tax liabilities relate to income taxes levied

by the same taxation authority on either the same taxable entity

or diferent taxable entities which intend either to setle curent

tax liabilities and asets on a net basis, or to realise the asets

and setle the liabilities simultaneously, in each future period in

which significant amounts of defered tax liabilities or asets are

expected to be setled or recovered.

Government grants

Government grants are recognised at their fair values where

there is reasonable asurance that the grant wil be received

and al ataching conditions wil be complied with. When the

grant relates to an expense item, it is recognised as income on

a systematic basis over the periods in which the costs, for which

it is intended to compensate, are expensed.

Gaming duties and other related taxes

Acording to the respective local legislation by the Government

of South Korea, the Group is required to pay certain percentage

gaming tax on the net gaming wins from gaming operations.

In adition, the Group is also required to make certain variable

and fixed payments to the Government of South Korea based

on the gaming wins generated from tables and slot machines

in its posesion. These expenses are recognised as “Gaming

duties and other related taxes” in the consolidated statement

of profit or los as incured.

2.4 主要会计政策概要（续）

所得税（续）

递延税项资产及负债按预期适用于变现资

产或清偿负债期间之税率，且基于报告期

末已生效或实际生效之税率（及税法）计

算。

仅当本集团有可合法执行权利可将本期税

项资产与本期税项负债抵销，且递延税项

资产与递延税项负债与同一税务机关对同

一应课税实体或于各未来期间预期有大额

递延税项负债或资产需要结算或清偿时，

拟按净额基准结算本期税项负债及资产或

同时变现资产及结算负债之不同税务实体

征收之所得税相关，则递延税项资产与递

延税项负债可予抵销。

政府补助

倘能合理确定将可收取政府补助并符合所

有附带条件，则按公平值确认政府补助。

倘补助与开支项目有关，则会有系统地在

拟补贴的成本支销期间确认补助为收入。

博彩税及其他相关税项

根据南韩政府各自之地方法例，本集团须

就博彩业务之净赢额按某一百分比缴纳博

彩税。此外，本集团亦须按照其拥有之赌

桌及角子机所得赢额，向南韩政府支付若

干可变及定额付款。该等开支产生时在

综合损益表确认为「博彩税及其他相关税

项」。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Revenue recognition

Revenue from contracts with customers

Revenue from contracts with customers is recognised when

control of gods or services is transfered to the customers at

an amount that reflects the consideration to which the Group

expects to be entitled in exchange for those gods or services.

When the consideration in a contract includes a variable

amount, the amount of consideration is estimated to which

the Group wil be entitled in exchange for transfering the

gods 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 wil not ocur when

the asociated uncertainty with the variable consideration is

subsequently resolved.

When the contract contains a financing component which

provides the customer with a significant benefit of financing the

transfer of gods or services to the customer for more than one

year, revenue is measured at the present value of the amount

receivable, discounted using the discount rate that would be

reflected in a separate financing transaction betwen the Group

and the customer at contract inception. When the contract

contains a financing component which provides the Group with

a significant financial benefit for more than one year, revenue

recognised under the contract includes the interest expense

acreted on the contract liability under the efective interest

method. For a contract where the period betwen the payment

by the customer and the transfer of the promised gods or

services is one year or les, the transaction price is not adjusted

for the efects of a significant financing component, using the

practical expedient in HKFRS 15.

(a) Integrated resort revenue

Revenue from integrated resort, mainly comprised

hospitality, fod and beverage sales and services, theme

park ticket sales and retail sales. Revenue from hotel

rom rental, fod and beverage sales and other ancilary

services is recognised at the point in time when the

services are rendered. Revenue from theme park ticket

sales are recognised at the point in time when the tickets

are used. Revenue from the sale of fod and beverage

and sale of gods are recognised when the products are

sold to customers.

2.4 主要会计政策概要（续）

收益确认

客户合约的收益

客户合约的收益乃于货品或服务之控制权

转移至客户时按反映本集团预期该等货品

或服务所换取之代价金额确认。

当合约代价包含可变金额时，代价金额按

本集团将就向客户转让货品或服务所换取

之代价金额进行估计。可变代价于合约开

始时作出估计并受估计金额所限，直至于

可变代价之相关不确定因素其后解决时已

确认累计收益金额中之重大收益拨回很大

可能不会发生。

当合约包含因向客户转移货品或服务而向

客户提供超过一年重大融资利益之融资要

素，收益按应收款项之现值计量，并按于

合约开始生效时本集团与客户之个别融资

交易所反映之折现率折现。当合约包含有

关向本集团提供超过一年之重大融资利益

之融资要素，于合约下确认之收益包括于

实际利率法下合约负债所产生之利息开

支。有关由客户支付至转移承诺货品或服

务期间为一年或以下之合约，因采用香港

财务报告准则第15号之可行权宜方法，交

易价格不会因应重大融资要素之影响作出

调整。

(a) 综合度假区收益

综合度假区收益主要包括酒店、餐

饮销售及服务、主题公园门票销售

及零售。酒店房间租赁、餐饮销售

及服务及其他配套服务所得收益乃

于提供服务时获确认。主题公园门

票销售所得收益乃于门票使用时获

确认。餐饮销售及货品销售所得收

益乃于该等产品售予客户时确认。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Revenue recognition (continued)

Revenue from contracts with customers (continued)

(b) Gaming revenue

Gaming revenue represents the net diference betwen

gaming wins and loses. Comisions related directly

to customers and alowances to gaming counterparties

calculated based on certain percentages of net gaming

wins or roling amount, are recorded as a reduction to

gaming revenue. Gaming contracts include a performance

obligation to honor the patron’s wager and typicaly

include a performance obligation to provide a product

or service to the patron on a complimentary basis to

incentive in exchange for points earned under the Group’s

loyalty programs.

For wagering contracts that include products and services

provided to a patron in exchange for complimentary

comisions or points earned under the Group’s loyalty

programs, the Group alocates the estimated stand-alone

seling price of the points earned to the loyalty program

liability and casino revenue. The loyalty program liability

is recognized as a deferal of revenue until redemption

ocurs in fair value bases. When redemption of loyalty

program points ocurs, the Company recognize revenue.

The stand-alone seling price of each product or service is

alocated to the respective revenue type.

For redemption of loyalty program points with third

parties, the redemption amount is deducted from the

loyalty program liability and paid directly to the third

party.

Comision and alowances to gaming counterparties is

calculated based on certain percentages of net gaming

wins or roling amount and is recorded as a reduction to

gaming revenue when the relevant services have ben

rendered by gaming counterparties.

Unredemed Chips retained by customers are recognized

as contract liabilities, instead of operating income as they

are not related to gaming play.

2.4 主要会计政策概要（续）

收益确认（续）

客户合约的收益（续）

(b) 博彩收益

博彩收益指博彩收益与亏损之间之

净差额。与客户直接有关之佣金及

给予博彩对手方之津贴按博彩收益

净额或转码数之若干百分比计算，

并记录为博彩收益扣减。博彩合约

包括信守客户下注之履约责任，且

一般包括本集团忠诚计划项下免费

向客户提供产品或服务之履约责

任，以鼓励交换所赚取积分。

就包括向客户提供产品或服务以根

据本集团忠诚计划交换所赠送佣金

或所赚取积分之下注合约而言，本

集团分配所赚取积分之预计单独售

价至忠诚计划负债及娱乐场收益。

忠诚计划负债为按公平价值基准赎

回时所确认之递延收益。本公司会

在赎回忠诚计划积分时确认收益。

各产品或服务之单独售价会分配至

各收益类别。

就向第三方赎回忠诚计划积分而

言，赎回额度自忠诚计划负债扣除

并直接支付予第三方。

给予博彩对手方之佣金及津贴按博

彩收益净额或转码数之若干百分比

计算，并于博彩对手方提供相关服

务时入账为博彩收益扣减。

客户保留的未赎回筹码确认为合约

负债而非营运收入，乃由于其并非

与博彩有关。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Revenue recognition (continued)

Revenue from contracts with customers (continued)

Revenue from the sale of properties is recognised at the

point in time when the purchasers obtained the physical

posesion or the legal title of the completed property

and the Group has the present right to payment and the

colection of the consideration is probable.

Revenue from other sources

(a) Interest income is recognised on an acrual basis using

the efective interest method by aplying the rate that

exactly discounts the estimated future cash receipts over

the expected life of the financial instrument to the net

carying amount of the financial aset.

(b) Rental 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 acounting period in which they are incured.

right to receive payment has ben established, it is

probable that the economic benefits asociated with the

dividend wil flow to the Group and the amount of the

dividend can be measured reliably.

Contract liabilities

A 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 gods or services. Contract

liabilities are recognised as revenue when the Group performs

under the contract (i.e., transfers control of the related gods or

services to the customer).

2.4 主要会计政策概要（续）

收益确认（续）

客户合约的收益（续）

销售物业之收益于买方取得实物管

有权或竣工物业之法定所有权且本

集团现时有权收取付款及很可能收

回代价之时点确认。

其他来源的收益

(a) 利息收入透过采用将财务工具之估

计未来现金收款按预计年期准确贴

现至财务资产净账面值之利率，按

应计基准使用实际利率法确认。

(b) 租金收入于租期内按时间比例确

认。并非取决于指数或利率之可变

租赁款项于产生之会计期间确认为

收入。

立且与股息相关之经济利益很可能

会流向本集团及股息金额能可靠计

量时确认。

合约负债

合约负债在本集团转移有关货品或服务前

于收讫客户款项或逾期款项（以较早者为

准）时确认。合约负债于本集团根据合约

履约（即将有关货品或服务之控制权转让

至客户）时确认为收益。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Right-of-return asets

A right-of-return aset is recognised for the right to recover

the gods expected to be returned by customers. The aset

is measured at the former carying amount of the gods to be

returned, les any expected costs to recover the gods and any

potential decreases in the value of the returned gods. The

Group updates the measurement of the aset for any revisions

to the expected level of returns and any aditional decreases in

the value of the returned gods.

Share-based payment

The Company operates a share option scheme for the purpose

of providing incentives and rewards to eligible participants who

contribute to the suces of the Group’s operations. Employes

(including Directors) of the Group receive remuneration in the

form of share-based payments, whereby employes render

services in exchange for equity instruments (“equity-setled

transactions”).

The cost of equity-setled transactions with employes for

grants is measured by reference to the fair value on the date at

which they are granted.

The cost of equity-setled transactions is recognised in

employe benefit expense, together with a coresponding

increase in equity, over the period in which the performance

and/or service conditions are fulfiled. The cumulative expense

recognised for equity-setled transactions at the end of each

reporting period until the vesting date reflects the extent to

which the vesting period has expired and the Group’s best

estimate of the number of equity instruments that wil ultimately

vest. The charge or credit to the statement of profit or los for

a period represents the movement in the cumulative expense

recognised as at the begining and end of that period.

2.4 主要会计政策概要（续）

退货权资产

退货权资产乃就客户预期将予退回之货物

之权利确认。资产按将予退回货物之前账

面值减任何收回货物之预期成本及退回货

物价值之任何潜在减损计量。本集团更新

资产计量以对预期收益水平作出任何修订

以及任何退回货物价值之作出任何额外减

损。

以股份为基础付款

本公司设有一项购股权计划，旨在对本集

团业务成功作出贡献之合资格参与者提供

鼓励与奖赏。本集团雇员（包括董事）以股

份为基础付款之方式收取报酬，而雇员则

提供服务以换取股本工具（「股权结算交

易」）。

与获授购股权之雇员进行股权结算交易之

成本乃参考授出购股权当日之公平价值计

量。

股权结算交易之成本，连同权益相应增加

部分，在表现及╱或服务条件达成之期间

于雇员福利开支内确认。在归属日期前，

各报告期末确认之股权结算交易之累计开

支，反映归属期已到期部分及本集团对最

终将会归属之股本工具数目之最佳估计。

在某一期间内于损益表扣除或进账，乃反

映累计开支于期初与期末确认之变动。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Share-based payment (continued)

Service and non-market performance conditions are not

taken into acount when determining the grant date fair

value of awards, but the likelihod of the conditions being

met is asesed as part of the Group’s best estimate of the

number of equity instruments that wil ultimately vest. Market

performance conditions are reflected within the grant date fair

value. Any other conditions atached to an award, but without

an asociated service requirement, are considered to be non-

vesting conditions. Non-vesting conditions are reflected in the

fair value of an award and lead to an imediate expensing

of an award unles there are also service and/or performance

conditions.

For awards that do not ultimately vest because non-market

performance and/or service conditions have not ben met,

no expense is recognised. Where awards include a market or

non-vesting condition, the transactions are treated as vesting

irespective of whether the market or non-vesting condition is

satisfied, provided that al other performance and/or service

conditions are satisfied.

Where the terms of an equity-setled award are modified, as

a minimum an expense is recognised as if the terms had not

ben modified, if the original terms of the award are met. In

adition, an expense is recognised for any modification that

increases the total fair value of the share-based payments, or is

otherwise beneficial to the employe as measured at the date

of modification.

Where an equity-setled award is canceled, it is treated as if

it had vested on the date of cancelation, and any expense

not yet recognised for the award is recognised imediately.

This includes any award where non-vesting conditions within

the control of either the Group or the employe are not met.

However, if a new award is substituted for the canceled award,

and is designated as a replacement award on the date that it

is granted, the canceled and new awards are treated as if they

were a modification of the original award, as described in the

previous paragraph.

The dilutive efect of outstanding options is reflected as

aditional share dilution in the computation of earnings per

share.

2.4 主要会计政策概要（续）

以股份为基础付款（续）

于厘定购股权之授出日期公平价值时，不

会考虑服务及非市场表现条件，惟会对达

成条件之可能性作出评估，作为本集团有

关最终将获归属之股本工具数目之最佳估

计之一部分。市场表现条件会于授出日期

公平价值内反映。购股权附带之任何其他

条件（但并无相关服务规定）被视为非归属

条件。非归属条件会于购股权之公平价值

内反映并引致即时将购股权支销，惟同时

有服务及╱或表现条件则除外。

对于因未达成非市场表现及╱或服务条件

而最终未归属之购股权，不会确认任何开

支。倘购股权包含市场或非归属条件，只

要所有其他表现及╱或服务条件已经达

成，则不论市场或非归属条件是否达成，

交易均会被视为归属。

倘股权结算购股权之条款有所变更，在未

达成购股权之原订条款时，所确认之开支

最少须达到犹如条款并无任何变更之水

平。此外，倘按变更日期计量，任何变更

导致以股份为基础付款之总公平价值有所

增加，或对雇员带来其他利益，则会就该

等变更确认开支。

倘股权结算购股权被注销，应被视为已于

注销日期归属，任何尚未确认有关授予购

股权之开支，均会即时确认。此包括在本

集团所能控制之非归属条件或雇员未能达

至下之任何购股权。然而，若授予新购股

权代替已注销之购股权，并于授出日期指

定为替代购股权，则已注销之购股权及新

购股权，均会被视为原购股权之变更（如

前段所述）。

计算每股盈利时，未行使购股权之摊薄效

应会反映为额外股份摊薄。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Employe benefits

(a) Pension obligations

The Group operates a defined contribution Mandatory

Provident Fund retirement benefit scheme (the “MPF

Scheme”) under the Mandatory Provident Fund

Schemes Ordinance for al of its employes in Hong

Kong. Contributions are made based on a percentage

of the employes’ basic salaries and are charged to

the statement of profit or los as they become payable

in acordance with the rules of the MPF Scheme. The

asets of the MPF Scheme are held separately from those

of the Group in an independently administered fund.

The Group’s employer contributions vest fuly with the

employes when contributed into the MPF Scheme.

The employes of the Group’s certain subsidiaries which

operate in South Korea are required to participate in a

defined contribution is a pension plan under which the

South Korea subsidiaries pay fixed contributions into

a separate entity. The contributions are recognised as

employe benefit expenses when an employe has

rendered service.

In adition, the subsidiaries in South Korea also operates

a defined benefits scheme in South Korea, the asets of

which are generaly held in separate truste-administrated

funds.

The schemes are generaly funded through payments

to insurance companies or truste-administered funds,

determined by periodic actuarial calculations. A defined

benefit plan is a pension plan that is not a defined

contribution plan. Typicaly, defined benefit plans define

an amount of pension benefit that an employe wil

receive on retirement, usualy dependent on one or more

factors such as age, years of services and compensation.

2.4 主要会计政策概要（续）

雇员福利

(a) 退休金责任

本集团根据强制性公积金计划条例

之规定，为全体香港雇员设立定额

供款之强制性公积金退休福利计划

（「强积金计划」）。按照强积金计划

之条款，本集团根据有关雇员之基

本薪金之某一百分比作出供款，并

于作出供款时在损益表中扣除。强

积金计划之资产乃由独立管理之基

金与本集团之资产分开持有。本集

团对强积金计划作出之雇主供款乃

全数归入有关雇员。

本集团于南韩经营之若干附属公司

雇员须参与定额供款计划，该计划

为退休金计划，据此，南韩附属公

司须向独立实体作出定额供款。供

款于雇员提供服务时确认为雇员福

利开支。

此外，南韩附属公司亦于南韩设有

定额福利计划，其资产一般由独立

之受托管理基金持有。

计划一般经由定期精算而厘定并透

过向保险公司或受托管理基金供

款注资。定额福利计划为退休金计

划，而非定额供款计划。一般而

言，定额福利计划界定一笔雇员将

于退休时收取之退休金福利金额，

其一般依据一项或以上之因素厘

定，例如年龄、服务年期及补偿。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Employe benefits (continued)

(a) Pension obligations (continued)

The liability recognised in the statement of financial

position in respect of defined benefit pension plans

is the present value of the defined benefit obligation

at the reporting date les the fair value of plan asets.

The defined benefit obligation is calculated anualy

by independent actuaries using the projected unit

credit method. The present value of the defined benefit

obligation is determined by discounting the estimated

future cash outflows using interest rates of high-quality

corporate bonds that are denominated in the curency

in which the benefits wil be paid, and that have terms

to maturity aproximating to the terms of the related

pension liability.

Actuarial gains and loses arising from experience

adjustments and changes in actuarial asumptions are

charged or credited to equity in other comprehensive

income in the period in which they arise. Past-service costs

are recognised imediately as income.

The employes of the Group’s subsidiaries, which operate

in the Philipines, are members of government-managed

“Social Security System Scheme”. The Philipine

subsidiary is required to pay a monthly fixed contribution

or certain percentage of the employes’ relevant income

and met the minimum mandatory requirements of the

Social Security System Scheme. The Philipine subsidiary

has no further payment obligations once the contributions

have ben paid. The contributions are recognised as

employe benefit expense when they are due.

Certain subsidiaries which operate in Singapore make

contributions to the Central Provident Fund scheme in

Singapore, a defined contribution pension scheme on a

mandatory, contractual or voluntary basis. Contributions

to defined contribution pension schemes are recognised

as an expense in the period in which the related service

of the employe is performed. The Group has no further

payment obligations once the fixed contributions have

ben paid. The Group’s contributions are recognised as

employe compensation expense when they are due.

2.4 主要会计政策概要（续）

雇员福利（续）

(a) 退休金责任（续）

就定额福利退休金计划于财务状况

表确认之负债为定额福利责任于报

告日期之现值减计划资产公平价

值。定额福利责任每年由独立精算

师以预计单位信贷法计算。定额福

利责任之现值以优质公司债券（以将

予支付福利之货币计值且期限与相

关退休金负债之年期相若）之利率折

现估计未来现金流出厘定。

根据经验而调整之精算收益及亏损

以及精算假设之变动，于其产生期

间在其他全面收益之权益中扣除或

抵免。过往服务成本即时确认为收

入。

本集团在菲律宾营运之附属公司雇

员乃政府管理之「社会保障基金计

划」成员。菲律宾附属公司须支付每

月固定供款或雇员有关入息之若干

百分比，并符合有关社会保障基金

计划之最低强制规定。供款一经支

付，菲律宾附属公司再无任何进一

步之付款责任。供款于到期时确认

为雇员福利开支。

若干在新加坡经营的附属公司向新

加坡中央公积金（一项强制、合约或

自愿性质的定额供款退休计划）供

款。向定额供款退休计划的供款于

雇员提供相关服务的期间确认为开

支。定额供款一经支付，则本集团

毋须负上支付进一步供款之责任。

本集团供款在应付时确认为雇员福

利开支。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Employe benefits (continued)

(b) Employe leave entitlement

Employe entitlements to anual leave are recognised

when they acrue to employes. A provision is made

for the estimated liability for anual leave as a result

of services rendered by employes up to the date of

consolidated statement of financial position.

Employe entitlements to sick leave and maternity leave

are not recognised until the time of leave.

Foreign curencies

These financial statements are presented in Hong Kong dolars,

which is the Company’s functional curency. Each entity in

the Group determines its own functional curency and items

included in the financial statements of each entity are measured

using that functional curency. Foreign curency transactions

recorded by the entities in the Group are initialy recorded using

their respective functional curency rates prevailing at the dates

of the transactions. Monetary asets and liabilities denominated

in foreign curencies are translated at the functional curency

rates of exchange ruling at the end of the reporting period.

Diferences arising on setlement or translation of monetary

items are recognised in the statement of profit or los.

Non-monetary items that are measured in terms of historical

cost in a foreign curency are translated using the exchange

rates at the dates of the initial transactions. Non-monetary

items measured at fair value in a foreign curency are translated

using the exchange rates at the date when the fair value was

measured. The gain or los arising on translation of a non-

monetary item measured at fair value is treated in line with the

recognition of the gain or los on change in fair value of the

item (i.e., translation diference on the item whose fair value

gain or los is recognised in other comprehensive income or

profit or los is also recognised in other comprehensive income

or profit or los, respectively).

2.4 主要会计政策概要（续）

雇员福利（续）

(b) 雇员应享假期

雇员享有之年假在雇员应享时确

认。本集团就截至综合财务状况表

日期止雇员所提供服务产生年假之

估计负债计提拨备。

雇员享有之病假及产假直至雇员休

假时方予确认。

外币

该等财务报表乃以港元（即本公司之功能

货币）呈列。本集团内各实体自行厘定其

功能货币，计入各实体财务报表之项目乃

以该功能货币计量。本集团属下实体所记

录之外币交易按交易当日适用相应功能货

币汇率首次入账。以外币列账之货币资产

及负债按报告期末适用之功能货币汇率换

算。结算或换算货币项目产生之差额于损

益表确认。

以外币历史成本计算之非货币项目按首次

交易当日之汇率换算。以外币公平价值计

算之非货币项目则采用计量公平价值当日

之汇率换算。换算按公平价值计量之非货

币项目产生之收益或亏损按与确认项目公

平价值变动之收益或亏损一致之方式处理

（即公平价值收益或亏损于其他全面收益

或损益中确认之项目之汇兑差额亦分别于

其他全面收益或损益中确认）。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF SIGNIFICANT ACOUNTING

POLICIES (continued)

Foreign curencies (continued)

In determining the exchange rate on initial recognition of the

related aset, expense or income on the derecognition of a non-

monetary aset or non-monetary liability relating to an advance

consideration, the date of initial transaction is the date on which

the Group initialy recognises the non-monetary aset or non-

monetary liability arising from the advance consideration. If

there are multiple payments or receipts in advance, the Group

determines the transaction date for each payment or receipt of

the advance consideration.

The functional curencies of certain overseas subsidiaries and

asociates are curencies other than the Hong Kong dolar. As

at the end of the reporting period, the asets and liabilities

of these entities are translated into Hong Kong dolars at the

exchange rates prevailing at the end of the reporting period

and their statements of profit or los are translated into Hong

Kong dolars at the exchange rates that aproximate to those

prevailing at the dates of the transactions.

The resulting exchange diferences are recognised in other

comprehensive income and acumulated in the exchange

fluctuation reserve. On disposal of a foreign operation, the

component of other comprehensive income relating to that

particular foreign operation is recognised in the statement of

profit or los.

Any godwil arising on the acquisition of a foreign operation

and any fair value adjustments to the carying amounts of asets

and liabilities arising on acquisition are treated as asets and

liabilities of the foreign operation and translated at the closing

rate.

For the purpose of the consolidated statement of cash flows,

the cash flows of overseas subsidiaries are translated into

Hong Kong dolars at the exchange rates ruling at the dates

of the cash flows. Frequently recuring cash flows of overseas

subsidiaries which arise throughout the year are translated into

Hong Kong dolars at the weighted average exchange rates for

the year.

2.4 主要会计政策概要（续）

外币（续）

在厘定就终止确认与预付代价有关之非货

币性资产或非货币性负债初步确认相关资

产、开支或收入所用之汇率时，首次交易

日期为本集团初步确认预付代价所产生非

货币性资产或非货币性负债之日期。倘有

多笔付款或预收款项，则本集团就每笔付

款或预收预付代价厘定一个交易日期。

若干海外附属公司及联营公司以港元以外

之货币作为功能货币。于报告期末，该等

实体之资产及负债已按报告期末适用之汇

率换算为港元，而其损益表已按与交易日

期当时的汇率相若的汇率换算为港元。

由此产生之汇兑差额在其他全面收益中确

认，并在外汇波动储备中累计。出售海外

业务时，其他全面收益中有关该项特定海

外业务之成份于损益表中确认。

因收购海外业务而产生之任何商誉及对收

购所产生资产及负债账面值之公平价值调

整作为海外业务之资产及负债处理，并按

收市汇率换算。

就综合现金流量表而言，海外附属公司之

现金流量按现金流量日期之适用汇率换算

为港元。海外附属公司于整年持续产生之

经常性现金流量按年内加权平均汇率换算

为港元。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

3 SIGNIFICANT ACOUNTING JUDGEMENTS

AND ESTIMATES

The preparation of the Group’s financial statements requires

management to make judgements, estimates and asumptions

that afect the reported amounts of revenues, expenses, asets

and liabilities, and their acompanying disclosures, and the

disclosure of contingent liabilities. Uncertainty about these

asumptions and estimates could result in outcomes that could

require a material adjustment to the carying amounts of the

asets or liabilities afected in the future.

Judgements

In the proces of aplying the Group’s acounting policies,

management has made the folowing judgements, apart from

those involving estimations, which have the most significant

efect on the amounts recognised in the financial statements:

Clasification betwen investment properties and owner-

ocupied properties

The Group determines whether a property qualifies as an

investment property, and has developed criteria in making

that judgement. Investment property is a property held to

earn rentals or for capital apreciation or both. Therefore,

the Group considers whether a property generates cash flows

largely independently of the other asets held by the Group.

Some properties comprise a portion that is held to earn rentals

or for capital apreciation and another portion that is held

for use in the production or suply of gods or services or

for administrative purposes. If these portions could be sold

separately or leased out separately under a finance lease, the

Group acounts for the portions separately. If the portions

could not be sold separately, the property is an investment

property only if an insignificant portion is held for use in the

production or suply of gods or services or for administrative

purposes. Judgement is made on an individual property basis

to determine whether ancilary services are so significant that a

property does not qualify as an investment property.

3 重大会计判断及估计

于编制本集团之财务报表时，管理层需对

收入、支出、资产及负债之申报数额及其

附带披露、以及或然负债之披露事项作出

判断、估计及假设。该等假设及估计之不

明朗因素可能导致需就日后受影响资产或

负债之账面值作出重大调整。

判断

管理层于应用本集团之会计政策时已作出

以下判断（不包括涉及估计者），对财务报

表内确认之款项构成最重要影响者如下：

投资物业与自用物业之分类

本集团厘定物业是否符合投资物业资格，

并已就此制定判断标准。投资物业乃为赚

取租金或资本增值或两者兼得而持有之物

业。因此，本集团考虑物业有否产生大致

独立于本集团所持其他资产之现金流。若

干物业包括为赚取租金或资本增值而持有

之部分，而另一部分则为生产或供应商品

或服务或用于行政目的而持有。倘有关部

分可单独出售或根据融资租赁单独出租，

则本集团将该等部分单独入账。倘有关部

分无法单独出售，则只有极小部分为生产

或供应商品或服务或用于行政目的而持有

之物业方被视作投资物业。判断针对个别

物业而进行，借此确定配套服务之重大程

度是否足以导致物业不符合投资物业资

格。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

3 SIGNIFICANT ACOUNTING JUDGEMENTS

AND ESTIMATES (continued)

Estimation uncertainty

The key asumptions concerning the future and other key

sources of estimation uncertainty at the end of the reporting

period, that have a significant risk of causing a material

adjustment to the carying amounts of asets and liabilities

within the next financial year, are described below.

(a) Impairment of trade and gaming receivables

The Group aplies the simplified aproach in calculating

ECLs. An impairment analysis is performed at each

reporting date using a los rate aproach to measure

expected credit loses. The credit risk categorisation is

determined based on a number of factors which include

(i) debtors’ ageing; (i) historical repayment behaviour

of debtors; and (i) other debtors’ specific information

available to the Group which is relevant for credit risk

asesment. The credit risk categorisation is adjusted to

reflect subsequent information uncovered to an extent

that such information provides evidence of conditions

existed as at the year end date and forward-loking

information. The expected los rates are estimated based

on the expected cash flows that can be recovered from

the estimated repayments based on historical recovery

ratios.

The asesment of the corelation among historical

recovery ratio, estimated repayment and ECLs is a

significant estimate. The amount of ECLs is sensitive to

changes in circumstances and conditions. The Group’s

historical credit los experience and estimates may also

not be representative of customer’s actual default in the

future. The information about the ECLs on the Group’s

trade and gaming receivables is disclosed in note 19 to

the consolidated financial statements.

3 重大会计判断及估计（续）

估计之不明朗因素

涉及日后之主要假设及于报告期末估计不

明朗因素之其他主要来源（其均会导致下

个财政年度之资产及负债之账面值出现大

幅调整之重大风险）载于下文。

(a) 应收贸易款项及博彩应收款项减值

本集团采用简化方法计算预期信贷

亏损。于各报告日期采用亏损率法

进行减值分析，以计量预期信贷亏

损。信贷风险分类乃按多项因素厘

定，当中包括(i)应收账款之账龄；

(i)债务人过往还款记录；及(i)本集

团可得其他债务人并与信贷风险评

估相关之特定资料。信贷风险分类

乃经调整以反映其后发现之资料，

而该等资料可为于年结日已存在之

情况及前瞻性资料提供理据。预期

亏损率乃按预期现金流量及按历史

收回比率计算之其他估计还款估算。

对历史收回比率、估计还款及预期

信贷亏损之间的相关性进行之评估

属重大估计。预期信贷亏损金额对

各种情况及状况之变动相当敏感。

本集团之过往信贷亏损经验及估计

可能亦未必能代表客户日后之实际

违约情况。有关本集团应收贸易款

项及博彩应收款项之预期信贷亏损

之资料于综合财务报表附注19披露。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

3 SIGNIFICANT ACOUNTING JUDGEMENTS

AND ESTIMATES (continued)

Estimation uncertainty (continued)

(b) Impairment of other receivables

The impairment provisions for other receivables are

based on asumptions about expected credit loses. The

Group uses judgements and estimates in making these

asumptions and selecting the inputs to the impairment

calculation, based on information about past events,

curent conditions and forecasts of future economic

conditions at the end of each reporting period. The

amount of ECLs is sensitive to changes in circumstances

and forecasts of future economic conditions. The Group’s

historical credit los experience and forecasts of future

economic conditions may also not be representative of

a debtor’s actual default in the future. Changes in these

asumptions and estimates could materialy afect the

results of the asesment and it may be necesary to

make an aditional impairment charge to profit or los.

Details of other receivables are disclosed in note 19 to the

consolidated financial statements.

with indefinite useful lives

The Group determines whether godwil and gaming

licences with indefinite useful lives are impaired at least

on an anual basis. This requires an estimation of the

value-in-use of the cash-generating units or the fair

value of gaming licences to which the godwil and

gaming licences with indefinite useful lives are alocated.

Estimating the value-in-use and fair value requires the

Group to make an estimate of the expected future cash

flows from the cash-generating units and also to chose

a suitable discount rate in order to calculate the present

value of those cash flows. Where the actual future cash

flows are les than expected, or change in facts and

circumstances which results in downward revision of future

cash flows or upward revision of discount rate, a material

impairment los or further impairment los may arise.

3 重大会计判断及估计（续）

估计之不明朗因素（续）

(b) 其他应收款项减值

其他应收款项减值拨备乃基于预期

信贷亏损之相关假设厘定。本集

团基于各报告期末关于过往事件、

目前状况及未来经济状况预测的资

料，于作出该等假设及选择减值计

算输入数据时作出判断及估计。预

期信贷亏损金额易受情况变动及未

来经济状况预测影响。本集团的过

往信贷亏损经验及未来经济状况预

测亦未必能反映债务人未来的实际

违约情况。该等假设及估计出现变

动可重大影响评估结果，且有必要

于损益中扣除额外减值。有关其他

应收款项之详情载于综合财务报表

附注19。

值评估

本集团至少每年厘定商誉及无限可

使用年期之博彩牌照是否出现减

值。为此须估计获分配至商誉及无

限可使用年期之博彩牌照之现金产

生单位使用价值或公平价值。本集

团须于估计使用价值及公平价值时

对现金产生单位之预期未来现金流

量作出估计，亦须选择合适之折现

率以计算该等现金流量之现值。当

未来实际现金流量低于预期，或事

实或情况有变导致未来现金流量下

跌或折现率上升，或会产生重大减

值亏损或进一步减值亏损。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

3 SIGNIFICANT ACOUNTING JUDGEMENTS

AND ESTIMATES (continued)

Estimation uncertainty (continued)

with indefinite useful lives (continued)

The estimated cash flows and discount rate are subject to

higher degre of estimation uncertainties in the curent

year due to uncertainty on how the COVID-19 pandemic

may progres and evolve the volatility in financial markets,

including potential disruptions of the Group’s operation

of Integrated Resort Development and Gaming Busines.

Changes in the key asumptions including the growth

rates of revenue and costs, working capital neds and

pre-tax discount rate in the cash flow projections, could

materialy afect the recoverable amounts arising from the

curent changing in market conditions after the outbreak

of COVID-19. The duration of the travel restrictions and

the related impact on the financial performance of the

Group is unknown subjecting these key asumptions to

greater uncertainty.

Details of godwil and gaming licences are disclosed in

note 17 to the consolidated financial statements.

(d) Impairment of non-financial asets (other than godwil)

The Group aseses whether there are any indicators

of impairment for al non-financial asets (including the

right- of-use asets) at the end of each reporting period.

Indefinite life intangible asets are tested for impairment

anualy and at other times when such an indicator exists.

Other non-financial asets are tested for impairment when

there are indicators that the carying amounts may not

be recoverable. An impairment exists when the carying

value of an aset or a cash-generating unit exceds its

recoverable amount, which is the higher of its fair value

les costs of disposal and its value-in-use. The calculation

of the fair value les costs of disposal is based on available

data from binding sales transactions in an arm’s length

transaction of similar asets or observable market prices

les incremental costs for disposing of the aset. When

value-in-use calculations are undertaken, management

must estimate the expected future cash flows from the

aset or cash-generating unit and chose a suitable

discount rate in order to calculate the present value of

those cash flows.

3 重大会计判断及估计（续）

估计之不明朗因素（续）

值评估（续）

现金流量预测及折现率于本年度受

到更大不确定性的影响，因为新冠

病毒疫情可能如何发展及演变以及

金融市场的波动（包括对本集团的综

合度假区发展及博彩业务可能造成

的影响）存在不确定性。由于新冠病

毒爆发后导致市场状况发生当前变

动，关键假设（包括收入及成本增长

率、营运资金需求及现金流量预测

的除税前贴现率）的变动可能对可收

回金额造成严重影响。由于该等关

键假设存在较大的不确定性，因此

旅行限制的期限以及对本集团财务

表现的相关影响尚不可知。

商誉及博彩牌照之详情于综合财务

报表附注17披露。

(d) 非财务资产（商誉除外）减值

本集团于各报告期末评估所有非财

务资产（包括使用权资产）是否存在

任何减值迹象。具无限年期之无形

资产每年进行减值测试，并在出现

关迹象之其他时间进行减值测试。

当有迹象显示账面值可能无法收回

时，则就其他非财务资产进行减值

测试。倘资产或现金产生单位之账

面值超过其可收回金额（即其公平价

值减出售成本及其使用价值两者中

之较高者），即表示存在减值。公平

价值减出售成本之计算建基于可取

得之类似资产具约束力公平交易数

据或可观察市价减出售资产之递增

成本。于计算使用价值时，管理层

须估计资产或现金产生单位之预期

未来现金流量，并选择适当折现率

以计算该等现金流量之现值。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

3 SIGNIFICANT ACOUNTING JUDGEMENTS

AND ESTIMATES (continued)

Estimation uncertainty (continued)

(e) Impairment asesment of property, plant and equipment

The Group determines whether an aset is impaired at

least on an anual basis. This requires an estimation of

fair value of the aset. The fair value for the impairment

asesment of property, plant and equipment is estimated

based on either (i) fair value les cost of disposal, or (i)

value-in-use calculation using cash flow projections based

on financial budgets covering a five-year period aproved

by management and by reference to external valuation

reports. Details of property, plant and equipment

are disclosed in note 14 to the consolidated financial

statements.

(f) Net realisable value of properties under development

and completed properties for sale

The Group’s properties for sale are stated at the lower of

cost and net realisable value. Based on the Group’s recent

experience and the nature of the subject properties, the

Group makes estimates of the seling prices, the costs

of completion in cases for properties under or held for

development, and the costs to be incured in seling the

properties based on prevailing market conditions. If there

is an increase in costs to completion or a decrease in net

sales value, the net realisable value wil decrease and this

may result in provision for properties under development

and completed properties held for sale. Such provision

requires the use of judgement and estimates. Where

the expectation is diferent from the original estimate,

the carying value and provision for properties in the

periods in which such estimate is changed wil be

adjusted acordingly. In adition, given the volatility of

the property market and the unique nature of individual

properties, the actual outcomes in terms of costs and

revenue may be higher or lower than that estimated at

the end of the reporting period. Any increase or decrease

in the provision would afect profit or los in future years.

Details of properties under development and completed

properties for sale are disclosed in notes 20 and 21 to the

consolidated financial statements, respectively.

3 重大会计判断及估计（续）

估计之不明朗因素（续）

(e) 物业、厂房及设备减值评估

本集团至少每年厘定资产是否出现

减值。为此须对资产之公平价值作

出估计。评估物业、厂房及设备之

减值所采用之公平价值乃根据(i)公

平价值减出售成本；或(i)根据管理

层所批准包括五年期间之财务预算

计算的使用价值及参考外界估值报

告估算。物业、厂房及设备的详情

于综合财务报表附注14披露。

(f) 发展中物业及待售已落成物业之可变

现净值

本集团待售物业按成本与可变现净

值两者中之较低者列账。根据本集

团近期经验及主体物业之性质，本

集团因应现行现市况评估售价、竣

工成本（就发展中物业或持作发展物

业而言）及出售物业将产生之成本。

倘竣工成本增加或销售净值减少，

则可变现净值将会下降，并可能须

就发展中物业及待售已落成物业计

提拨备，而计提拨备须运用判断及

估计。倘预期有别于原定估计，则

须相应调整估计变动期间之账面值

及物业拨备。此外，鉴于房地产市

场波动及个别物业之独特性，成本

及收益方面之实际结果可能高于或

低于报告期末所作估计。任何拨备

增减将影响未来年度之损益。发展

中物业及待售已落成物业之详情分

别于综合财务报表附注20及21披

露。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

3 SIGNIFICANT ACOUNTING JUDGEMENTS

AND ESTIMATES (continued)

Estimation uncertainty (continued)

(g) Estimation of fair value of investment properties

In the absence of curent prices in an active market for

similar properties, the Group considers information from a

variety of sources, including:

(i) Curent price in an active market for properties of a

diferent nature, condition or location, adjusted to

reflect those diferences;

(i) Recent prices of similar properties on les active

markets, with adjustments to reflect any changes

in economic conditions since the dates of the

transactions that ocured at those prices; and

(i) Discounted cash flow projections based on reliable

estimates of future cash flows, suported by the

terms of any existing lease and other contracts and

(when posible) by external evidence such as curent

market rents for similar properties in the same

location and condition, and using discount rates that

reflect curent market asesment of the uncertainty

in the amount and timing of the cash flows.

Details of investment properties are disclosed in note 15

to the consolidated financial statements.

(h) Leases — Estimating the incremental borowing rate

The Group canot readily determine the interest rate

implicit in a lease, and therefore, it uses an incremental

borowing rate (“IBR”) to measure lease liabilities. The IBR

is the rate of interest that the Group would have to pay

to borow over a similar term, and with a similar security,

the funds necesary to obtain an aset of a similar value to

the right-of-use aset in a similar economic environment.

The IBR therefore reflects what the Group “would have

to pay”, which requires estimation when no observable

rates are available (such as for subsidiaries that do not

enter into financing transactions) or when it neds to be

adjusted to reflect the terms and conditions of the lease

(for example, when leases are not in the subsidiary’s

functional curency). The Group estimates the IBR using

observable inputs (such as market interest rates) when

available and is required to make certain entity-specific

estimates (such as the subsidiary’s stand-alone credit

rating).

Details of right-of-use asets and lease liabilities are

disclosed in note 16 to the consolidated financial

statements.

3 重大会计判断及估计（续）

估计之不明朗因素（续）

(g) 估计投资物业之公平价值

由于无法取得同类物业于活跃市场

之现价，本集团考虑来自不同渠道

之资料，包括：

(i) 性质、状况或地点不同之物业

于活跃市场之现价，并作出调

整以反映该等差异；

(i) 同类物业于较不活跃市场之近

期价格，并作出调整以反映按

有关价格进行交易当日以来经

济状况之任何变动；及

(i) 基于对未来现金流之可靠估计

而得出现金流折现预测，以任

何现有租约及其他合约之条款

以及（如可行）外部证据（例如

同一地点及条件下同类物业之

当前市场租金）作支持，并采

用反映目前市场评估现金流金

额及时间不确定性之折现率。

投资物业之详情于综合财务报表附

注15披露。

(h) 租赁－估计增量借款利率

本集团无法轻易厘定租赁内所隐含

之利率，因此，使用增量借款利率

（「增量借款利率」）计量租赁负债。

增量借款利率为本集团于类似经济

环境中为取得与使用权资产价值相

近之资产，而以类似抵押品与类似

期间借入所需资金应支付之利率。

因此，增量借款利率反映了本集团

「应支付」之利率，当无可观察之利

率时（如就并无订立融资交易之附属

公司而言）或当须对利率进行调整以

反映租赁之条款及条件时（如当租

赁并非以附属公司之功能货币订立

时），则须作出利率估计。当可观察

输入数据可用时，本集团使用可观

察输入数据（如市场利率）估算增量

借款利率并须作出若干实体特定之

估计（如附属公司之单独信贷评级）。

使用权资产及租赁负债之详情于综

合财务报表附注16披露。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

4 SEGMENT INFORMATION

The executive directors of the Company are considered to

be the Group’s Chief Operating Decision-Maker (“CODM”).

Management has determined the operating segments based

on the reports reviewed by the CODM that are used to

make strategic decisions. The CODM considers the Group

is operating predominantly in thre operating segments as

folows:

(a) Integrated Resort Development;

(b) Gaming Busines; and

The CODM monitors the results of the operating segments

separately for the purpose of alocating resources and asesing

performance. Segment performance is evaluated based on

reportable segment results, which is a measure of adjusted

profit or los before tax. The adjusted profit or los before tax is

measured consistently with the Group’s los before tax except

that finance costs, net, unalocated exchange diferences, net,

changes in fair value of investment properties in Hong Kong as

wel as head ofice and corporate income and expenses, net are

excluded from such measurement.

Segment asets exclude cash and cash equivalents, restricted

cash, investment properties in Hong Kong, equity investments

designated at fair value through other comprehensive income,

tax recoverable and other unalocated head ofice and

corporate asets as these asets are managed on a group basis.

Segment liabilities exclude interest-bearing bank borowing,

tax payable, defered tax liabilities and other unalocated head

ofice and corporate liabilities as these liabilities are managed

on a group basis.

4 分部资料

本公司之执行董事被视为本集团之主要营

运决策者（「主要营运决策者」）。管理层按

主要营运决策者所审阅用以作出策略决定

之报告厘定经营分部。主要营运决策者认

为本集团主要经营之三个经营分部如下：

(a) 综合度假区发展；

(b) 博彩业务；及

主要营运决策者独立监控经营分部业绩，

以分配资源及评估表现。分部表现乃按可

报告分部业绩评估，即计量除税前经调整

损益。计量除税前经调整损益时，方法与

计算本集团除税前亏损一致，惟财务成本

净额、未分配汇兑净差额、香港投资物业

之公平价值变动以及总部及企业收入及开

支净额则不计算在内。

分部资产不包括现金及现金等价物、受限

制现金、香港投资物业、指定为按公平价

值计入其他全面收益之股权投资、可收回

税项以及其他未分配总部及企业资产，原

因为该等资产乃按集团层面管理。

分部负债不包括计息银行借贷、应付税

项、递延税项负债以及其他未分配总部及

企业负债，原因为该等负债乃按集团层面

管理。

Integrated
Resort	Gaming	Property
Development	Business	Development	Total
综合
度假区发展	博彩业务	物业发展	总计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元
946,200	46,127	394,473	1,386,800
(154,120)	(173,965)	202,179	(125,906)
			(98,570)
			31,038
			(28,911)
			(12,700)
			(235,049)
8,040,428	672,333	571,613	9,284,374
			179,700
			13,866
			62,793
			503,421
			812
			11,056
			10,056,022

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

4 SEGMENT INFORMATION (continued)

Year ended 31 December 2022

Segment revenue: (Note 5)分部收益：（附注5）

Sales to external customers向外部客户之

销售

Segment results分部业绩

Reconciliation:对账：

Finance costs, net

(other than interest on

lease liabilities)

财务成本，净额

（租赁负债利息

除外）

Unalocated exchange

diferences, net

未分配汇兑差额，

净额

Corporate and other

unalocated expenses, net

企业及其他未分配

开支，净额

Fair value loses on

investment properties

in Hong Kong

香港投资物业

之公平价值亏损

Los before tax除税前亏损

Segment asets分部资产

Reconciliation:对账：

Investment properties

in Hong Kong

香港投资物业

Equity investments

designated at fair value

指定为按公平价值

计入其他

through other

comprehensive income

全面收益之股权

投资

Restricted cash受限制现金

Cash and cash equivalents现金及现金等价物

Tax recoverable可收回税项

Corporate and other

unalocated asets

企业及其他未分配

资产

Total asets资产总值

4 分部资料（续）

截至二零二年十二月三十一日止年

度

Integrated
Resort	Gaming	Property
Development	Business	Development	Total
综合
度假区发展	博彩业务	物业发展	总计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元
258,594	47,281	25,287	331,162
			1,556,150
			79
			44,482
			6,766
			1,938,639
453,607	35,202	–	488,809
–	8,735	–	8,735
(63,249)	67	–	(63,182)
(88,822)	–	–	(88,822)

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

4 SEGMENT INFORMATION (continued)

Year ended 31 December 2022 (continued)

Segment liabilities分部负债

Reconciliation:对账：

Interest-bearing

bank borowing

计息银行借贷

Tax payable应付税项

Defered tax liabilities递延税项负债

Corporate and other

unalocated liabilities

企业及其他未分配

负债

Total liabilities负债总值

Other segment information

included in segment results:

计入分部业绩之

其他分部资料：

Amortisation and depreciation摊销及折旧

Impairment of other intangible

asets

其他无形资产减值

(Reversal of impairment)/

impairment of trade and

other receivables, net

应收贸易款项及

其他应收款项

（减值拨回）╱

减值，净额

Fair value gains on investment

properties in South Korea

南韩投资物业之

公平价值收益

4 分部资料（续）

截至二零二年十二月三十一日止年

度（续）

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

4 SEGMENT INFORMATION (continued)

Year ended 31 December 2021

Integrated

Resort Gaming Property

DevelopmentBusinesDevelopmentTotal

综合

度假区发展博彩业务物业发展总计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

Segment revenue: (Note 5)分部收益：（附注5）

Sales to external customers向外部客户之

销售856,40688,604404,9861,349,996

Segment results分部业绩(420,736)(671,820)207,391(885,165)

Reconciliation:对账：

Finance costs, net

(other than interest on

lease liabilities)

财务成本，净额

（租赁负债利息

除外）(134,113)

Corporate and other

unalocated expenses, net

企业及其他未分配

开支，净额(24,635)

Fair value gains on

investment properties

in Hong Kong

香港投资物业

之公平价值收益

3,400

Los before tax除税前亏损(1,040,513)

Segment asets分部资产8,912,228753,571730,36410,396,163

Reconciliation:对账：

Investment properties

in Hong Kong

香港投资物业

192,400

Equity investments

designated at fair value

指定为按公平价值

计入其他

through other

comprehensive income

全面收益之股权

投资17,957

Restricted cash受限制现金66,556

Cash and cash equivalents现金及现金等价物820,917

Tax recoverable可收回税项57

Corporate and other

unalocated asets

企业及其他未分配

资产15,922

Total asets资产总值11,509,972

4 分部资料（续）

截至二零二一年十二月三十一日止年

度

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

4 SEGMENT INFORMATION (continued)

Year ended 31 December 2021 (continued)

Integrated

Resort Gaming Property

DevelopmentBusinesDevelopmentTotal

综合

度假区发展博彩业务物业发展总计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

Segment liabilities分部负债289,10475,42560,382424,911

Reconciliation:对账：

Interest-bearing

bank borowing

计息银行借贷

2,114,515

Tax payable应付税项16,913

Defered tax liabilities递延税项负债44,364

Corporate and other

unalocated liabilities

企业及其他未分配

负债98,934

Total liabilities负债总值2,699,637

Other segment information

included in segment results:

计入分部业绩之

其他分部资料：

Amortisation and depreciation摊销及折旧541,57441,166–582,740

Impairment of other intangible

asets

其他无形资产减值

–398,449–398,449

Impairment of trade and other

receivables, net

应收贸易款项及

其他应收款项

减值，净额4,5456,726–11,271

Fair value gains on investment

properties in South Korea

南韩投资物业之

公平价值收益(109,409)–(109,409)

4 分部资料（续）

截至二零二一年十二月三十一日止年

度（续）

2022
二零二二年
HK$’000
千港元
1,386,800

2022
二零二二年
HK$’000
千港元
8,282,979
184,235
18
8,467,232

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

4 SEGMENT INFORMATION (continued)

Geographical information

(a) Revenue from external customers

二零二一年

HK$’000

千港元

South Korea南韩1,349,996

The revenue information above is based on the locations

of the customers.

(b) Non-curent asets

二零二一年

HK$’000

千港元

South Korea南韩9,257,943

Hong Kong香港198,447

Others其他15

9,456,405

The non-curent asets information above is based on

the locations of the asets and excludes godwil and

other intangible asets, prepayments, trade and other

receivables and equity investments designated at fair

value through other comprehensive income.

Information about major customers

During the years ended 31 December 2022 and 2021, no single

customer contributed over 10% of the Group’s total revenue.

4 分部资料（续）

地区资料

(a) 来自外部客户之收益

以上收益资料乃根据客户所处地区

列出。

(b) 非流动资产

以上非流动资产资料乃根据资产所

在位置（不包括商誉及其他无形资

产、预付款项、应收贸易款项及其

他应收款项及指定为按公平价值计

入其他全面收益之股权投资）列出。

有关主要客户之资料

截至二零二年及二零二一年十二月

三十一日止年度，概无单一客户占本集团

收益总额超过10%。

2022
二零二二年
HK$’000
千港元
1,350,914
35,886
1,386,800

Integrated
Resort	Gaming	Property
Development	Business	Development	Total
综合
度假区发展	博彩业务	物业发展	总计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元
608,065	–	–	608,065
100,248	–	–	100,248
191,302	–	–	191,302
10,699	–	–	10,699
–	43,531	–	43,531
–	2,596	–	2,596
–	–	386,143	386,143
–	–	8,330	8,330
910,314	46,127	394,473	1,350,914
910,314	46,127	394,473	1,350,914
910,314	46,127	394,473	1,350,914

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

5 REVENUE

An analysis of revenue is as folows:

二零二一年

HK$’000

千港元

Revenue from contracts with customers客户合约的收益1,330,784

Revenue from other sources其他来源的收益

Gros rental income from investment

property operating leases

来自投资物业经营租赁之

租金收入总额19,212

1,349,996

Revenue from contracts with customers

Disagregated revenue information

For the year ended 31 December 2022

Segments

分部

Types of gods or services商品或服务种类

Hotel roms酒店房间

Theme park ticket sales 主题公园门票销售

Fod and beverage sales 餐饮销售

Retail sales零售

Table games桌面游戏

Electronic machine games 电子装置游戏

Sales of properties销售物业

Property management 物业管理费收入

fe income

Total revenue from contracts

with customers

客户合约的收益

总额

Geographical markets地区市场

South Korea南韩

Timing of revenue recognition收益确认时间

Gods transfered at a point

in time

于某一时间点转移

之商品

5 收益

收益分析如下：

客户合约的收益

分拆收益资料

截至二零二年十二月三十一日止年

度

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

5 REVENUE (continued)

Revenue from contracts with customers (continued)

Disagregated revenue information (continued)

For the year ended 31 December 2021

Integrated

Resort Gaming Property

SegmentsDevelopmentBusinesDevelopmentTotal

综合

分部度假区发展博彩业务物业发展总计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

Types of gods or services商品或服务种类

Hotel roms酒店房间581,319–581,319

Theme park ticket sales 主题公园门票销售75,952–75,952

Fod and beverage sales 餐饮销售168,615–168,615

Retail sales零售11,308–11,308

Table games桌面游戏–82,037–82,037

Electronic machine games 电子装置游戏–6,567–6,567

Sales of properties销售物业–400,634400,634

Property management 物业管理费收入

fe income–4,3524,352

Total revenue from contracts

with customers

客户合约的收益

总额837,19488,604404,9861,330,784

Geographical markets地区市场

South Korea南韩837,19488,604404,9861,330,784

Timing of revenue recognition收益确认时间

Gods transfered at a point

in time

于某一时间点转移

之商品837,19488,604404,9861,330,784

5 收益（续）

客户合约的收益（续）

分拆收益资料（续）

截至二零二一年十二月三十一日止年

度

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

5 REVENUE (continued)

Revenue from contracts with customers (continued)

Contract and contract related liabilities

In providing gods and services to its customers, there may

be a timing diference betwen cash receipts from customers

and recognition of revenue, resulting in a contract or contract-

related liability.

The Group primarily has five types of liabilities related to

contracts with customers: (1) loyalty program liabilities, which

represents the defered alocation of revenues relating to

incentive earned from the loyalty programs; (2) unredemed

chip liabilities, which represents the amounts owed in exchange

for gaming chips and tokens held by a customer; (3) patrons

deposits and other gaming liabilities, which represents casino

front money deposits that are funds deposited by customers

before gaming play ocurs; (4) contract liabilities for sales of

gods and services, which represents the advance payments on

gods and services to be provided, such as advance ticket sales

and deposits on hotel roms; and (5) liabilities for pre-sales of

properties, which represents advances received from buyers

in conection with the Group’s pre-sales of properties. These

liabilities are generaly expected to be recognised as revenues

within one year of being purchased, earned, or deposited and

are recorded within other payables, acruals and deposits

received on the consolidated statement of financial position.

Increase in balance mainly due to the increase in advanced

payments received in relation to sales of gods and services

and increase in cash received from buyers in relation to the pre-

sales of properties.

5 收益（续）

客户合约的收益（续）

合约及合约相关负债

于向客户提供货品及服务时，向客户收取

现金与收益确认之间存在时差，导致合约

及合约相关负债。

本集团主要有五类与客户合约有关之负

债：(1)忠诚度计划负债，指与忠诚计划所

赚取积分有关之收益递延分配；(2)未兑

现筹码负债，指于交换客户所持博彩筹码

及代币时结欠之款项；(3)赌客存款及其

他博彩负债，指客户于开始博彩前存入之

赌场博彩按金；(4)销售商品及服务之合约

负债，指将予提供货品及服务之预付款项

（如门票预售及酒店客房按金）；及(5)预售

物业负债，指就本集团预售之物业向买家

预收之款项。该等负债一般预期于购买、

赚取或存入后一年内确认为收益，并于综

合财务状况表之其他应付款项、应计费用

及已收按金内入账。该等结余增加主要原

因是增加有关销售商品及服务所收取之预

付款项增加及就预售物业向买家收取之现

金。

Loyalty program liabilities	Unredeemed chip liabilities	Patrons deposits and other gaming liabilities	Sales of goods and services	Pre-sales of properties	Total
忠诚度计划负债	未兑现筹码负债	赌客存款及其他博彩负债	销售商品及服务	预售物业	总计
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

5,473	8,795	86,338	333,382	351,408	785,396
(3,698)	(8,150)	(84,545)	(344,993)	(380,932)	(822,318)
(465)	(603)	(116)	(2,312)	(3,646)	(7,142)
10,150	10,953	4,366	22,812	20,776	69,057

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

5 REVENUE (continued)

Revenue from contracts with customers (continued)

Contract and contract related liabilities (continued)

Details of contract liabilities are as folows:

Balance at 1 January 2021于二零二一年一月一日

之结余4,51310,5402,05515,77124,95457,833

Increase in contract liabilities as

a result of cash received from

customers in advance

向客户预收现金导致

合约负债增加

8,74915,87661,739109,540433,427629,331

Decrease in contract liabilities as

a result of recognising revenue

during the year was included in

the contract liabilities

年内确认收益计入合约

负债导致合约负债减少

(3,896)(14,621)(60,912)(86,530)(401,347)(567,306)

Exchange realignment汇兑调整(526)(884)(193)(2,046)(3,088)(6,737)

Balance at 31 December 2021

and 1 January 2022

于二零二一年

十二月三十一日及

二零二年一月一日

之结余8,84010,9112,68936,73553,946113,121

Increase in contract liabilities as

a result of cash received from

customers in advance

向客户预收现金导致

合约负债增加

Decrease in contract liabilities as

a result of recognising revenue

during the year was included in

the contract liabilities

年内确认收益计入合约

负债导致合约负债减少

Exchange realignment汇兑调整

Balance at 31 December 2022于二零二年

十二月三十一日之结余

5 收益（续）

客户合约的收益（续）

合约及合约相关负债（续）

合约负债详情载列如下：

2022
二零二二年
HK$’000
千港元
85
88
–
(1,411)
(3,754)
19,256
6,721
20,985

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

6 OTHER INCOME AND GAINS/(LOSES), NET

二零二一年

HK$’000

千港元

Dividend income from equity

investments at fair value through

other comprehensive income

按公平价值计入其他全面收益

之股权投资之股息收入

Gain/(los) on disposal of items of

property, plant and equipment

出售物业、厂房及设备项目

之收益╱（亏损）(2,622)

Investment properties writen of投资物业之撇销(3,585)

Derecognition of interest acretion

on early redemption of the

bank borowing

提早赎回银行借贷时终止确认

之利息增长

(1,772)

Foreign exchange diferences, net汇兑差额，净额(34,626)

Other taxes refunded其他税项之退回–

Others其他7,164

(35,365)

6 其他收入及收益╱（亏损），净额

2022
二零二二年
HK$’000
千港元
171,945
70,285
(1,692)
240,538
433,121
28,074
461,195
488,506
1,487
337
490,330
(33)
19
(63,168)
(63,182)

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

7 LOS BEFORE TAX

The Group’s los before tax is arived at after charging/

(crediting):

二零二一年

NotesHK$’000

附注千港元

Cost of properties and

inventories sold:

已售物业及存货之成本：

— Cost of properties sold —已售物业成本178,363

— Cost of inventories sold —已售存货成本68,715

— Reversal of provision

for inventories

—存货拨备拨回

(2,203)

244,875

Employe benefit expenses

(excluding directors’

remuneration (Note 9):

雇员福利费用（不包括董事

薪酬（附注 9）：

— Wages, salaries and other

staf costs*

—工资、薪金及其他

员工成本*481,219

— Retirement benefit costs —退休福利成本37,955

519,174

Amortisation and depreciation:摊销及折旧:

— Depreciation of property, —物业、厂房及设备之

plant and equipment 折旧14581,912

— Depreciation of right-of- —使用权资产之折旧

use asets16(a)7,374

— Amortisation of other intangible

asets

—其他无形资产之摊销

589,632

(Reversal of impairment)/

impairment of trade and

other receivables, net:

应收贸易款项及其他

应收款项（减值拨回）╱

减值，净额：

— (Reversal of impairment)/

impairment of

trade receivables, net

—应收贸易款项

（减值拨回）╱

减值，净额19(i)434

— Impairment of

gaming receivables, net

—博彩应收款项

减值，净额19(i)6,726

— Reversal of impairment

of other receivables, net

—其他应收款项

减值拨回，净额19(i)(6,378)

7 除税前亏损

本集团之除税前亏损已扣除╱（计入）下列

各项：

2022
二零二二年
HK$’000
千港元
1,800
2,013
3,813
123,551
–
4,183
31,298
90,275

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

7 LOS BEFORE TAX (continued)

二零二一年

NotesHK$’000

附注千港元

Expenses included in “Other 计入「其他营运费用」中之

operating expenses” : 费用 ：

— Auditor’s remuneration —核数师酬金

— Audit services to the

Company

—向本公司提供之

审计服务2,000

— Audit services to the

subsidiaries of the Company

—向本公司之附属公司

提供之审计服务2,834

4,834

— Building, equipment and facility —楼宇、设备及设施维修

maintenance expenses 费用125,854

— Impairment of property, —物业、厂房及设备之减值

plant and equipment1450,660

— Lease payments not included in —不计入租赁负债计量之

the measurement of 租赁款项

lease liabilities6,078

— Sales and marketing, events —销售及营销、活动和广告

and advertising expenses 费用30,919

— Utilities expenses —公用事业费用81,483

, government grants

of HK$2,401,000 (2021: HK$10,331,000) were received under the

“Employment Retention Subsidy” of the Government of South Korea

Besides, government grant of HK$75,000 was received under the

“Jobs Suport Scheme” of the Government of Singapore for the year

ended 31 December 2021. These amount are included in the “wages,

salaries and other staf costs” and there are no unfulfiled conditions

or contingencies related to these grants (2021: Nil).

At the end of the reporting period, the Group had no forfeited

contributions available to reduce its contributions to the pension

schemes in future years (2021: Nil).

* The remaining items of “Other operating expenses” including but not

limited to consumable suplies and administrative expenses.

7 除税前亏损（续）

* 截至二零二年十二月三十一日止年度

内，根据南韩政府「挽留雇员补助金」获取

2,401,000港元（二零二一年：10,331,000

港元）的政府补助。此外，截至二零二一年

十二月三十一日止年度，根据新加坡政府

「就业支持计划」，已获取75,000港元的政

府补助。该等金额已计入「工资、薪金及其

他员工成本」，且并无有关该等补助的未达

成的条件或然事项（二零二一年：无）。

于报告期末，本集团并无没收供款可用以

减低未来年度之退休金计划供款（二零二一

年：无）。

* 计入「其他营运费用」之其余项目包括但不

限于消耗品供应及行政费用。

2022
二零二二年
HK$’000
千港元
(81)
(100,689)
(100,770)
2,087
32
2,119
(98,651)

2022
二零二二年
HK$’000
千港元
1,275
5,856
209
7,340
480
7,820

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

8 FINANCE COSTS, NET

二零二一年

HK$’000

千港元

Interest expenses:利息开支：

— Lease liabilities —租赁负债(330)

— Bank borowing —银行借贷(141,387)

Finance costs财务成本(141,717)

Interest income:利息收入：

— Bank interest income —银行利息收入560

— Other interest income —其他利息收入6,714

Finance income财务收入7,274

Finance costs, net财务成本，净额(134,443)

9 DIRECTORS’ REMUNERATION

Directors’ remuneration for the year, disclosed pursuant to the

Listing Rules, section 383(1)(a), (b), (c) and (f) of the Hong Kong

Companies Ordinance and Part 2 of the Companies (Disclosure

of Information about Benefits of Directors) Regulation, is as

folows:

二零二一年

HK$’000

千港元

Executive directors:执行董事：

Fes 袍金11,425

Other emoluments: 其他酬金：

Salaries, discretionary bonuses,

alowances and benefits in kind

薪金、酌情花红、

津贴及实物福利9,144

Employer’s contributions to retirement

benefit schemes

雇主之退休福利计划

供款302

20,871

Independent non-executive directors:独立非执行董事：

Fes 袍金492

21,363

8 财务成本，净额

9 董事薪酬

根据上市规则、香港公司条例第383(1)

(a)、(b)、(c)及(f)条以及公司（披露董事利

益资料）规例第2部披露之本年度董事薪酬

如下：

Employer’s
contributions
to
		Allowances	retirement
		and benefits	benefit
Fees	Salaries	in kind	schemes	Total
		in kind	雇主之
		津贴及	退休福利
袍金	薪金	实物福利	计划供款	总计
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
–	–	–	–	–
300	1,200	–	18	1,518
75	364	114	5	558
300	1,344	174	96	1,914
300	1,117	–	54	1,471
300	1,543	–	36	1,879
1,275	5,568	288	209	7,340
120	–	–	–	120
300	–	–	–	300
60	–	–	–	60
480	–	–	–	480
1,755	5,568	288	209	7,820

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

9 DIRECTORS’ REMUNERATION (continued)

Executive directors’ and independent non-executive

directors’ emoluments

The emoluments paid to executive directors and independent

non-executive directors during the year were as folows:

For the year ended 31 December 2022

Name姓名

Executive directors:执行董事：

Dr. Yang Zhihui

仰智慧博士

Ms. Chan Me Sze 陈美思女士

Mr. Yeung Lo

杨鲁先生

Dr. Wong Hoi Po 王海波博士

Ms. Pu Shen Chen 蒲慎珍女士

Mr. Huang Wei

黄威先生

Independent non-executive

directors:

独立非执行董事：

Mr. Li Chun Kei 李骏机先生

Mr. Shek Lai Him Abraham 石礼谦先生

Mr. Du Peng

杜鹏先生

9 董事薪酬（续）

执行董事及独立非执行董事之酬金

于年内已支付予执行董事及独立非执行董

事之酬金如下：

截至二零二年十二月三十一日止年

度

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

9 DIRECTORS’ REMUNERATION (continued)

Executive directors’ and independent non-executive

directors’ emoluments (continued)

For the year ended 31 December 2021

Employer’s

contributions

Alowances retirement

and benefitsbenefit

Name姓名FesSalariesin kindschemesTotal

雇主之

津贴及退休福利

袍金薪金实物福利计划供款总计

HK$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元

Executive directors:执行董事：

Dr. Yang Zhihui

仰智慧博士

10,000–10,000

Ms. Chan Me Sze 陈美思女士3001,200–181,518

Mr. Yeung Lo

杨鲁先生

3001,7284561062,590

Dr. Wong Hoi Po 王海波博士3001,6149661062,986

Ms. Pu Shen Chen 蒲慎珍女士3001,638406582,402

Mr. Huang Wei

黄威先生

2251,136–141,375

11,4257,3161,82830220,871

Independent non-executive

directors:

独立非执行董事：

Mr. Li Chun Kei 李骏机先生120–120

Mr. Li Liangyong

林良勇先生

24–24

Mr. Shek Lai Him Abraham 石礼谦先生300–300

Mr. Du Peng

杜鹏先生

48–48

492–492

11,9177,3161,82830221,363

Ceased on 12 March 2021

Apointed on 12 March 2021

Apointed on 14 April 2021

Resigned on 4 April 2022

Suspended on 18 November 2022

There were no other emoluments payable to the executive

directors and independent non-executive directors during the

year (2021: Nil).

There were no arangements under which a director waived or

agred to waive any remuneration during the year.

9 董事薪酬（续）

执行董事及独立非执行董事之酬金

（续）

截至二零二一年十二月三十一日止年

度

于二零二一年三月十二日终止职务

于二零二一年三月十二日获委任

于二零二一年四月十四日获委任

于二零二年四月四日辞任

于二零二年十一月十八日暂缓职务及权力

年内并无应付执行董事及独立非执行董事

之其他酬金（二零二一年：无）。

于本年度并无董事免收或同意免收任何薪

酬之安排。

2022
二零二二年
HK$’000
千港元
4,773
116
4,889

2022
二零二二年
HK$’000
千港元
3
–
3

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

10 FIVE HIGHEST PAID EMPLOYES

The five highest paid employes during the year included two

directors (2021: four directors), details of whose remuneration

are set out in note 9 of the consolidated financial statement

above. Details of the remuneration of the remaining thre (2021:

one) non-director highest paid employe are as folows:

二零二一年

HK$’000

千港元

Salaries, alowances and benefits in kind薪金、津贴及实物福利2,376

Employer’s contributions to a retirement雇主之退休福利计划供款

benefit scheme1

2,377

The number of non-director highest paid employes whose

remuneration fel within the folowing bands is as folows:

二零二一年

HK$’000

千港元

HK$1,500,001 to HK$2,000,0001,500,001港元至

2,000,000港元–

HK$2,000,001 to HK$2,500,0002,000,001港元至

2,500,000港元1

10 五名最高薪雇员

于本年度，五名最高薪雇员包括二名董事

（二零二一年：四名董事），彼等之酬金详

情已载于上文综合财务报表附注9。其余

三名（二零二一年：一名）最高薪及非董事

雇员之酬金详情如下：

非董事之最高薪雇员之薪酬范围介乎以下

组别：

2022
二零二二年
HK$’000
千港元
100
–
100
(20,607)
2,369
(18,138)

2022
二零二二年
HK$’000
千港元
(235,049)
(93,556)
–
(137,113)
247,001
(129,700)
95,230
(18,138)

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

11 INCOME TAX

No Hong Kong profits tax has ben provided as the Group

did not generate any asesable profits arising in Hong Kong

during the year ended 31 December 2022 (2021: Nil). Taxation

on overseas profits has ben calculated on the estimated

asesable profit for the year at the rates of taxation prevailing

in the jurisdictions in which the Group operates.

二零二一年

HK$’000

千港元

Curent — South Korea即期 — 南韩

Charge for the year 年内扣除120

Underprovision in prior years 过往年度拨备不足14,543

14,663

Curent — Elsewhere即期 — 其他地区

Credit for the year 年内抵免(2,696)

Defered tax (Note 26)递延税项（附注26）3,286

Total tax (credit)/charge for the year年内税项（抵免）╱开支总额15,253

The tax on the Group’s los before tax difers from the

theoretical amount that would arise using weighted average tax

rate aplicable to profits of the consolidated entities as folows:

二零二一年

HK$’000

千港元

Los before tax除税前亏损(1,040,513)

Tax calculated at domestic tax rates

aplicable to profits in the

respective countries

按有关国家之当地适用

利得税率计算之税项

(179,060)

Adjustments in respect of curent tax

of previous years

调整过往年度之即期税项

14,543

Income not subject to tax毋须课税收入(227,627)

Expenses not deductible for tax不可扣减税项开支587,730

Tax loses utilised from prior periods使用过往期间税项亏损(416,975)

Tax loses not recognised未有确认的税项亏损236,642

Tax (credit)/charge for the year年内税项（抵免）╱开支15,253

11 所得税

截至二零二年十二月三十一日止年度，

由于本集团并无于香港产生任何应课税溢

利，故概无就香港利得税作出拨备（二零

二一年：无）。海外溢利之税项乃按本集

团业务经营所在管辖区年内估计应课税溢

利之现行税率计算。

本集团除税前亏损之税额与采用综合实体

溢利适用之加权平均税率计算所得理论金

额之差异如下：

2022
二零二二年
HK$’000
千港元
(216,911)

2022
二零二二年
’000
千股
4,226,252

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

12 DIVIDEND

The Board does not recomend the payment of a final dividend

for the year ended 31 December 2022 (2021: Nil).

13 LOS PER SHARE ATRIBUTABLE TO

OWNERS OF THE PARENT

The calculations of basic and diluted los per share are based

on:

二零二一年

HK$’000

千港元

Los亏损

Los atributable to owners of

the parent, used in the basic and

diluted los per share calculation:

用于计算每股基本及

摊薄亏损之母公司

拥有人应占亏损：(1,055,766)

Number of shares

股份数目

二零二一年

’000

千股

Shares股份

Weighted average number of ordinary shares

in isue during the year used in

the basic and diluted los per share calculation

用于计算每股基本及摊薄

亏损之年内已发行普通股

加权平均数3,932,924

The Group had no potential dilutive ordinary shares outstanding

during the year (2021: Nil).

12 股息

董事会不建议就截至二零二年十二月

三十一日止年度派付末期股息（二零二一

年：无）。

13 母公司拥有人应占每股亏损

每股基本及摊薄亏损之计算方法乃基于：

本集团于本年度并无发行在外之潜在摊薄

普通股（二零二一年：无）。

Freehold land outside Hong Kong	Buildings	Leasehold improvements	Furniture, fixtures and office equipment	Motor vehicles	Gaming equipment and accessories	Structure and other facilities	Construction in progress	Total
香港以外永久业权土地	楼宇	租赁物业装修	家私、装置及办公室设备	汽车	博彩设备及配件	结构物及其他设施	在建工程	总计
HK$’000	HK$’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	千港元
1,077,679	6,827,840	1,040	1,331,708	80,882	131,095	1,656,349	39,359	11,145,952
–	(571,235)	(58)	(972,368)	(66,060)	(75,165)	(674,063)	–	(2,358,949)
1,077,679	6,256,605	982	359,340	14,822	55,930	982,286	39,359	8,787,003
1,077,679	6,256,605	982	359,340	14,822	55,930	982,286	39,359	8,787,003
–	–	–	670	93	–	–	10,081	10,844
–	(130,532)	(346)	(191,093)	(6,637)	(16,639)	(143,259)	–	(488,506)
–	–	–	(52)	(564)	(244)	–	–	(860)
303	(498)	–	5,169	1,038	–	2,072	(8,084)	–
–	(855)	–	–	–	–	–	–	(855)
–	573	–	–	–	–	–	–	573
(2,924)	–	–	–	–	–	–	–	(2,924)
–	13,375	–	–	–	–	–	–	13,375
–	(64,669)	–	–	–	–	–	–	(64,669)
(58,415)	(361,669)	–	(24,050)	(804)	(3,503)	(56,057)	(2,185)	(506,683)
1,016,643	5,712,330	636	149,984	7,948	35,544	785,042	39,171	7,747,298
1,016,643	6,382,561	1,040	1,260,734	75,089	122,811	1,567,140	39,171	10,465,189
–	(670,231)	(404)	(1,110,750)	(67,141)	(87,267)	(782,098)	–	(2,717,891)
1,016,643	5,712,330	636	149,984	7,948	35,544	785,042	39,171	7,747,298

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

14 PROPERTY, PLANT AND EQUIPMENT

31 December 2022二零二年十二月三十一日

At 1 January 2022:于二零二年一月一日：

Cost 成本

Acumulated depreciation

and impairment

累计折旧及减值

Net carying amount 账面净值

At 1 January 2022,

net acumulated depreciation

and impairment

于二零二年一月一日，

净累计折旧及减值

Aditions添置

Depreciation provided for the year年度折旧拨备

Disposals出售

Transfers转拨

Transfer to investment

properties (Note 15)

转拨至投资物业（附注15）

Revaluation of property, plant

and equipment upon transfer to

investment properties

于转拨至投资物业时重估

物业、厂房及设备

Transfer to properties

under development (Note 20)

转拨至发展中物业

（附注20）

Transfer from completed properties

for sale

转拨自待售已落成

物业

Transfer to completed properties

for sale

转拨至待售已落成

物业

Exchange realignment汇兑调整

At 31 December 2022,

net acumulated depreciation

and impairment

于二零二年

十二月三十一日，

净累计折旧及减值

At 31 December 2022:于二零二年

十二月三十一日：

Cost 成本

Acumulated depreciation

and impairment

累计折旧及减值

Net carying amount 账面净值

14 物业、厂房及设备

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

14 PROPERTY, PLANT AND EQUIPMENT

(continued)

Frehold

land outside

Hong KongBuildings

Leasehold

improvements

Furniture,

fixtures

and ofice

equipment

Motor

vehicles

Gaming

equipment

and

acesories

Structure

and other

facilities

Construction

in progresTotal

香港以外

永久业权土地楼宇

租赁物业

装修

家私、装置

及办公室设备汽车

博彩设备

及配件

结构物及

其他设施在建工程总计

HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’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千港元

31 December 2021二零二一年十二月三十一日

At 1 January 2021:于二零二一年一月一日：

Cost 成本1,165,5027,460,58538,8031,447,91588,333145,0601,808,71242,72412,197,634

Acumulated depreciation

and impairment

累计折旧及减值

– (469,183)(38,803) (808,377)(60,843)(62,789)(546,851)–(1,986,846)

Net carying amount 账面净值1,165,5026,991,402– 639,53827,49082,2711,261,86142,72410,210,788

At 1 January 2021,

net acumulated depreciation

and impairment

于二零二一年一月一日，

净累计折旧及减值

1,165,5026,991,402– 639,53827,49082,2711,261,86142,72410,210,788

Aditions添置– –1,040145–12–30,74931,946

Depreciation provided for the year年度折旧拨备– (148,260)(58)(238,863)(9,560)(19,622)(165,549)–(581,912)

Disposals/write-of出售╱撤销– –(437)(1,717)(338)(2,825)–(5,317)

Transfers转拨408–2,497115–27,685(30,705)–

Transfer from investment

properties (Note 15)

转拨自投资物业（附注15）

– 3,626–3,626

Transfer to investment

properties (Note 15)

转拨至投资物业（附注15）

– (56,866)–(56,866)

Transfer from properties

under development (Note 20)

转拨自发展中物业

（附注20）1,930–1,930

Transfer to properties

under development (Note 20)

转拨至发展中物业

（附注20）(777)–(777)

Transfer from completed properties

for sale

转拨自待售已落成

物业– 43,487–43,487

Transfer to completed properties

for sale

转拨至待售已落成

物业– (19,304)–(19,304)

Impairment减值– – – (673)–(572)(49,415)–(50,660)

Exchange realignment汇兑调整(89,384)(557,480)– (42,867)(1,506)(5,821)(89,471)(3,409)(789,938)

At 31 December 2021,

net acumulated depreciation

and impairment

于二零二一年

十二月三十一日，

净累计折旧及减值

1,077,6796,256,605982359,34014,82255,930982,28639,3598,787,003

At 31 December 2021:于二零二一年

十二月三十一日：

Cost 成本1,077,6796,827,8401,0401,331,70880,882131,0951,656,34939,35911,145,952

Acumulated depreciation

and impairment

累计折旧及减值

– (571,235)(58)(972,368)(66,060)(75,165)(674,063)–(2,358,949)

Net carying amount 账面净值1,077,6796,256,605982359,34014,82255,930982,28639,3598,787,003

14 物业、厂房及设备（续）

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

14 PROPERTY, PLANT AND EQUIPMENT

(continued)

As at 31 December 2022, certain of the Group’s property, plant

and equipment with a net carying amount of HK$1,645,152,000

(2021: HK$1,375,739,000) were pledged to banks to secure

general banking facilities granted to the Group (Note 25).

The directors considered that certain property, plant and

equipment of the Group were subject to impairment because

(i) respective cash-generating units of these property, plant

and equipment were underperform, sufered from substantial

loses, or (i) certain subsidiaries continued to underperform

and incured loses. The Group has performed an impairment

asesment with recoverable amounts of the relevant asets

determined based on either (i) fair value les cost of disposal,

or (i) value-in-use calculation using cash flow projections based

on financial budgets covering a five-year period aproved by

management.

In determining the fair value of the relevant property, plant

and equipment based on fair value les cost of disposal, the

Group engaged Samil Apraisal Co., Ltd. (Jeju Branch), an

independent profesionaly qualified valuer to perform the

valuation in Korea. The fair value asesment, which were

performed by the valuers, have ben arived at based on either

(a) sales comparison aproach with reference to the curent

comparable prices, or (b) cost aproach with reference to the

reproduction costs les depreciation. The key asumption

on determining the fair value les cost of disposal was the

economic obsolescence. The fair value hierarchy on asesing

the fair value les cost of disposal was level 3.

The impairment asesment of certain property, plant and

equipment, which is alocated to Gaming busines cash

generating unit (the “Gaming CGU”), were included in

the value-in-use calculation as disclosed in note 17 to the

consolidated financial statements.

14 物业、厂房及设备（续）

于二零二年十二月三十一日，账面净

值为1,645,152,000港元（二零二一年：

1,375,739,000港元）之本集团若干物业、

厂房及设备已就本集团获授之一般银行融

资（附注25）抵押予银行。

董事认为，本集团若干物业、厂房及设备

须作出减值，原因为(i)物业、厂房及设备

之现金产生单位于年内表现欠佳及产生重

大亏损或(i)若干附属公司继续表现欠佳及

产生亏损。本集团根据(i)公平价值减出售

成本或(i)根据管理层所批准包括五年期间

之财务预算计算的使用价值厘定之相关资

产之可收回金额进行减值评估。

根据公平值减出售成本厘定相关物业、厂

房及设备之公平价值时，本集团委聘独立

专业合资格估值师Samil Apraisal Co.,

Ltd. (Jeju Branch)于韩国进行估值。由估

值师进行之公平价值评估乃(a)参考现行可

资比较价格后按销售比较法，或(b)参考

复制成本减折旧后按成本法厘定。厘定公

平价值减出售成本的关键假设为经济性贬

值。评估公平价值减出售成本的公平值层

级为第三级。

分配至博彩业务现金产生单位（「博彩业务

现金产生单位」）之若干物业、厂房及设备

之减值测试已纳入至综合财务报表附注17

之使用价值计算之内。

2022
二零二二年
HK$’000
千港元
666,410
855
–
–
76,122
(24,994)
718,393

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

14 PROPERTY, PLANT AND EQUIPMENT

(continued)

The carying amount of the relevant property, plant and equipment

does not exced the recoverable amount based on fair value les

cost on disposal and no impairment has ben recognised in curent

year. In prior year, an impairment provision of HK$50,660,000

was recognised in the consolidated statement of profit or los

to write down the carying amounts of these property, plant

and equipment to their recoverable amount of aproximately

HK$1,282,161,000 as at 31 December 2021. There is no

impairment recognised for the Group of other CGUs that

include alocation of corporate asets for the curent and

prior year. Generaly, the Group is restricted from asigning and

subleasing the leased asets outside the Group.

The Group’s management decide to apoint which external

valuer to be responsible for the external valuation of the

Group’s properties. Selection criteria include market knowledge,

reputation, independence and whether profesional standards

are maintained. The Group’s management have discusions

with the valuer on the valuation asumptions and valuation

results when the valuation is performed for financial reporting

purpose.

15 INVESTMENT PROPERTIES

二零二一年

HK$’000

千港元

Carying amount at 1 January于一月一日之账面值537,164

Transfer from property, plant

and equipment (Note 14)

转拨自物业、厂房及

设备（附注14）56,866

Transfer to property, plant

and equipment (Note 14)

转拨至物业、厂房及

设备（附注14）(3,626)

Disposals出售(3,585)

Fair value gains, net公平价值收益，净额112,809

Exchange realignment汇兑调整(33,218)

Carying amount at 31 December于十二月三十一日之账面值666,410

14 物业、厂房及设备（续）

相关物业、厂房及设备之账面值并不超过

根据公平价值减出售成本得出的应收款项

金额，因此于本年度概无确认减值。于去

年，减值拨备50,660,000港元已于综合损

益表确认，以将该等物业、厂房及设备

之账面值撇减至其于二零二一年十二月

三十一日之可收回金额约为1,282,161,000

港元。本集团并无就其他现金产生单位

（包括本年度及上年度之分配公司资产）

确认任何减值。一般情况下，本集团不得

向本集团以外租赁资产转让、分租赁资

产。

本集团之管理层委聘外部估值师负责本集

团物业外部估值。甄选准则包括市场知

识、声誉、独立性及能否维持专业标准。

本集团之管理层已于估值时与估值师讨论

估值假设及估值结果，以便呈列财务报

告。

15 投资物业

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

15 INVESTMENT PROPERTIES (continued)

The Group’s investment properties are residential properties

in Hong Kong and comercial properties in South Korea.

The directors of the Company have determined the clas of

aset (i.e., residential and comercial) based on the nature,

characteristics and risks of the properties. The Group’s

investment properties in Hong Kong was revalued on 31

December 2022 based on a valuation performed by Roma

Apraisals Limited, an independent profesionaly qualified

valuer, while the properties in Korea was revalued on 31

December 2022 based on a valuation performed by Samil

Apraisal Co., Ltd. (Jeju Branch), an independent profesionaly

qualified valuer. The fair value was HK$718,393,000 (2021:

HK$666,410,000), and fair value gains of HK$76,122,000 (2021:

HK$112,809,000) was recorded in the consolidated statement of

profit or los for the year. Each year, the Group’s management

decides to apoint which external valuers to be responsible

for the external valuation of the Group’s properties. Selection

criteria includes market knowledge, reputation, independence

and whether profesional standards are maintained. The

Group’s management have discusions with the valuers on the

valuation asumptions and valuation results when the valuation

is performed for financial reporting purpose.

The investment properties are leased to third parties under

operating leases, further sumary details of which are included

in note 16 to the consolidated financial statements.

At 31 December 2022, the Group’s investment properties

with an agregate carying value of HK$89,102,000 (2021:

HK$62,364,000) were pledged to secure general banking

facilities granted to the Group (Note 25).

Further particulars of the Group’s investment properties are

included on page 219.

15 投资物业（续）

本集团之投资物业为位于香港之住宅物

业及位于南韩之商业物业。本公司董事

已根据物业之性质、特性及风险确定资

产类别（即住宅物业及商业物业）。本

集团位于香港之投资物业已于二零二

年十二月三十一日根据独立专业合资格

估值师罗马国际评估有限公司进行之估

值重新估值，位于南韩之物业已于二

零二年十二月三十一日根据独立专

业合资格估值师Samil Apraisal Co.,

Ltd. (Jeju Branch)进行之估值重新估

值。公平价值为718,393,000港元（二

零二一年：666,410,000港元），公平价

值收益76,122,000港元（二零二一年：

112,809,000港元）于年内计入综合损益

表。每年，本集团之管理层委聘外部估值

师负责本集团物业外部估值。甄选准则包

括市场知识、声誉、独立性及能否维持专

业标准。本集团之管理层已于估值时与估

值师讨论估值假设及估值结果，以便呈列

财务报告。

投资物业乃根据其他租赁租予第三方，进

一步概要详情载于综合财务报表附注16。

于二零二年十二月三十一日，本集团总

账面值为89,102,000港元（二零二一年：

62,364,000港元）之投资物业抵押作为本

集团获授一般银行融资之担保（附注25）。

有关本集团投资物业之进一步详情载于第

219页。

Fair value measurement as at 31 December 2022 using
于二零二二年十二月三十一日运用以下各项之公平价值计量
Quoted prices in active markets (Level 1)	Significant observable inputs (Level 2)	Significant unobservable inputs (Level 3)	Total
活跃市场报价（第一级）	重大可观察输入数据（第二级）	重大不可观察输入数据（第三级）	总计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元
–	–	179,700	179,700
–	–	538,693	538,693
–	–	718,393	718,393

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

15 INVESTMENT PROPERTIES (continued)

Fair value hierarchy

The folowing table ilustrates the fair value measurement

hierarchy of the Group’s investment properties:

Recuring fair value

measurement for:

以下各项之经常性

公平价值计量：

Residential properties in

Hong Kong

香港住宅物业

Comercial properties in

South Korea

南韩商业物业

15 投资物业（续）

公平价值等级

下表阐释本集团投资物业之公平价值计量

等级：

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

15 INVESTMENT PROPERTIES (continued)

Fair value hierarchy (continued)

Fair value measurement as at

31 December 2021 using

于二零二一年十二月三十一日运用

以下各项之公平价值计量

Quoted

prices in

active markets

(Level 1)

Significant

observable

inputs

(Level 2)

Significant

unobservable

inputs

(Level 3)Total

活跃市场报价

（第一级）

重大可观察

输入数据

（第二级）

重大不可观察

输入数据

（第三级）总计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

Recuring fair value

measurement for:

以下各项之经常性

公平价值计量：

Residential properties in

Hong Kong

香港住宅物业

–192,000192,000

Comercial properties in

South Korea

南韩商业物业

–474,410474,410

–666,410666,410

During the year, there were no transfers of fair value

measurements betwen Level 1 and Level 2 and no transfers

into or out of Level 3 (2021: Nil).

15 投资物业（续）

公平价值等级（续）

年内，第一级与第二级之间并无公平价值

计量之转拨，亦无转入或转出第三级之情

况（二零二一年：无）。

Hong Kong	Korea
香港	韩国
HK$’000	HK$’000
千港元	千港元

–	855
(12,700)	88,822
–	(24,994)
179,700	538,693

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

15 INVESTMENT PROPERTIES (continued)

Reconciliation of fair value measurement categorised within

Level 3 of the fair value hierarchy:

Carying amount at 1 January 2021于二零二一年一月一日

之账面值189,000348,164

Transfer from property, plant and

equipment (Note 14)

转拨自物业、厂房

及设备（附注14）–56,866

Transfer to property, plant and

equipment (Note 14)

转拨至物业、厂房

及设备（附注14）–(3,626)

Disposals出售–(3,585)

Changes in fair value recognised

in the statement of profit or los

于损益表确认之公平价值变动

3,400109,409

Exchange realignment汇兑调整–(33,218)

Carying amount at 31 December 2021

and at 1 January 2022

于二零二一年十二月三十一日

及二零二年一月一日

之账面值192,400474,010

Transfer from property, plant and

equipment (Note 14)

转拨自物业、厂房

及设备（附注14）

Changes in fair value recognised in

the statement of profit or los

于损益表确认之公平价值变动

Exchange realignment汇兑调整

Carying amount at 31 December 2022于二零二年十二月三十一日

之账面值

15 投资物业（续）

于公平价值等级第三级内分类之公平价值

计量对账：

2022
二零二二年
52,000
52,000
3,000 to 210,000
5.8%
3,000 to 210,000
5.8%

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

15 INVESTMENT PROPERTIES (continued)

Below is a sumary of the valuation techniques used and the

key inputs to the valuation of investment properties:

Clas of properties

Valuation

techniques

Significant

unobservable inputsRange of unobservable inputs

物业类别估值方法重大不可观察输入数据不可观察输入数据范围

二零二一年

Residential properties

— Hong Kong

Direct comparisonAdjusted market value

(HK$/square fet) (Note i)

55,400

住宅物业— 香港直接比较法经调整市场价值

（港元╱平方呎）（附注i）

55,400

Comercial properties

— South Korea

Income capitalisation

aproach

— Average monthly unit

rate (KRW/square meter)

(Note i)

3,000 to 80,000

— Capitalisation rate per anum

(Note i)

5.5%

商业物业— 南韩收入资本化法—平均单位月租价值

（韩圜╱平方米）（附注i）

3,000 to 80,000

—每年资本化率（附注i）5.5%

Notes:

(i) The higher the market unit rate, the higher the fair value.

(i) The higher the market rent, the higher the fair value.

(i) The higher the capitalisation rate, the lower the fair value.

15 投资物业（续）

下文概述于投资物业估值中所用之估值方

法及主要输入数据：

附注：

(i) 市场单位价格越高，公平价值越高。

(i) 市值租金越高，公平价值越高。

(i) 资本化率越高，公平价值越低。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

15 INVESTMENT PROPERTIES (continued)

Valuation technique

Fair values of residential properties in Hong Kong are generaly

derived using direct comparison method. The fair value is

estimated using asumption regarding the market value of the

comparable sales transactions as available in the market. The

valuation takes into acount the characteristics of the investment

properties, which include the location, size, shape, view, flor

level, year of completion and other factors colectively, to arive

at the market price per unit. The key input was the market price

per unit, which a significant increase/decrease in the market

price would result in a significant increase/decrease in the fair

value of the investment properties in Hong Kong.

Fair value of comercial properties in South Korea are generaly

derived using the income capitalisation aproach. Under

the income capitalisation aproach, fair value is estimated

on the basis of capitalisation of existing rental income and

reversionary market rental income. The market rentals of the

investment properties are asesed and capitalised at market

yield expected by investors for this type of properties. The

market rents are asesed by reference to the rentals achieved

in the investment properties as wel as other letings of similar

properties in the neighbourhod. The market yield, which

is the capitalisation rate adopted, is made by reference to

the yields derived from analysing the sales transactions of

similar properties and adjusted to take acount of the valuers’

knowledge of the market expectation from property investors

to reflect factors specific to the Group’s investment properties.

The key inputs were the monthly rent rate and the market yield,

which a significant increase/decrease in the monthly rent rate

in isolation would result in a significant increase/decrease in

the fair value of the investment properties and a significant

increase/decrease in the market yield in insolation would

result in a significant decrease/increase in the fair value of the

investment properties in Korea.

15 投资物业（续）

估值方法

香港住宅物业之公平价值一般以直接比较

法厘定。公平价值乃运用有关投资物业之

有关市场之可比较销售交易而作估计。进

行估值时会考虑投资物业之整体特性，包

括位置、大小、形状、景观、楼层、落成

年份及其他因素，以得出每单位市场价

格。主要输入数据为每单位市场价格，当

市场价格大幅上升╱下跌时，会导致香港

投资物业公平价值大幅上升╱下跌。

南韩商业物业之公平价值一般以收入资本

化法厘定。根据收入资本化法，公平价值

乃根据现有租金收入及入经常性市场租金

收入之资本化估计。投资物业之市场租金

乃按投资者对该类型物业之预期市场收益

进行评估及资本化。市场租金乃参考投资

物业之可得租金以及该区其他类似物业之

出租情况而作评估。所采纳之市场收益

（即资本化率）乃经参考分析同类物业销售

交易所得收益，并根据估值师对物业投资

者市场预期之认知作出调整后得出，以反

映本集团投资物业之特定因素。主要输入

数据为月租价值及市场收益率，当月租价

值单独大幅上升╱下跌时，会导致投资物

业之公平价值大幅上升╱下跌，而当市场

收益率单独大幅上升╱下跌时，会导致韩

国投资物业之公平价值大幅下跌╱上升。

Buildings	Motor vehicles	Total
楼宇	汽车	总计
HK$’000	HK$’000	HK$’000
千港元	千港元	千港元

–	84	84
(1,483)	(4)	(1,487)
(50)	2	(48)
1,459	82	1,541

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

16 LEASES

The Group as a lese

The Group has lease contracts for various items of buildings,

equipment, motor vehicles and facilities used in its operations.

Lease of buildings generaly have lease terms of 3 years while

lease of motor vehicles generaly have lease terms of 4 years.

Other buildings, equipment, motor vehicles and facilities

generaly have lease terms of 12 months or les and/or are

individualy of low value. Generaly, the Group is restricted from

asigning and subleasing the leased asets outside the Group.

(a) Right-of-use asets

The carying amounts of the Group’s right-of-use asets

and the movements during the year are as folows:

As at 1 January 2021于二零二一年一月一日7,857–7,857

Aditions添置2,627–2,627

Depreciation charge折旧费用(7,374)–(7,374)

Exchange realignment汇兑调整(118)–(118)

As at 31 December 2021

and 1 January 2022

于二零二一年

十二月三十一日

及二零二年一月一日2,992–2,992

Aditions添置

Depreciation charge折旧费用

Exchange realignment汇兑调整

As at 31 December 2022于二零二年

十二月三十一日

16 租赁

本集团作为承租人

本集团拥有其营运所用之各项楼宇、设

备、汽车及设施项目之租赁合约。租赁楼

宇之租期一般为3年，而租赁汽车之租期

一般为4年。其他楼宇、设备、汽车及设

施之租期一般为12个月或以下及╱或个别

属低价值。一般情况下，本集团不得向本

集团以外转让及分租赁资产。

(a) 使用权资产

本集团的使用权资产账面净值及本

年度之变动如下：

2022
二零二二年
HK$’000
千港元
3,327
84
81
(1,691)
(53)
1,748
986
762

2022
二零二二年
HK$’000
千港元
81
1,487
2,079
2,104
5,751

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

16 LEASES (continued)

The Group as a lese (continued)

(b) Lease liabilities

The carying amount of lease liabilities and the

movements during the year are as folows:

二零二一年

HK$’000

千港元

Carying amount at 1 January于一月一日账面值8,475

New lease新租约2,627

Acretion of interest recognised

during the year

年内确认利息增加

Payments付款(7,979)

Exchange realignment汇兑调整(126)

Carying amount at 31 December于十二月三十一日之账面值3,327

Analysed into:分析为：

Curent portion 即期部分1,663

Non-curent portion 非即期部分1,664

The maturity analysis of lease liabilities is disclosed in note

34(c) to the consolidated financial statements.

leases are as folows:

二零二一年

HK$’000

千港元

Interest on lease liabilities租赁负债利息330

Depreciation charge of right-of-use asets使用权资产折旧费用7,374

Expense relating to short-term leases

(included in other operating expenses)

有关短期租赁之开支

（计入其他营运费用）2,152

Expense relating to leases of low-value asets

(included in other operating expenses)

有关低价值资产租赁之开支

（计入其他营运费用）3,926

Total amount recognised in profit or los于损益确认之总金额13,782

(d) The total cash outflow for leases is disclosed in note 29(c)

to the consolidated financial statements.

16 租赁（续）

本集团作为承租人（续）

(b) 租赁负债

租赁负债账面值及年内变动如下：

租赁负债到期日分析于综合财务报

表附注34(c)中披露。

(d) 租赁现金流出总额于综合财务报表

附注29(c)披露。

2022
二零二二年
HK$’000
千港元
12,300
11,412
8,524
7,003
6,526
11,663
57,428

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

16 LEASES (continued)

The Group as a lesor

The Group leases its investment properties (Note 15) consisting

of several comercial properties in Korea under operating

lease arangements. The terms of the leases generaly require

the tenants to pay security deposits and provide for periodic

rent adjustments acording to the prevailing market conditions.

Rental income recognised by the Group during the year was

HK$35,886,000 (2021: HK$19,212,000).

At 31 December 2022, the undiscounted lease payments

receivables by the Group in future periods under non-

cancelable operating leases with its tenants are as folows:

二零二一年

HK$’000

千港元

Within one year一年内9,303

After one year but within two years一年后但于两年内6,162

After two years but within thre years两年后但于三年内5,226

After thre years but within four years三年后但于四年内4,141

After four years but within five years四年后但于五年内3,448

After five years五年后13,925

42,205

16 租赁（续）

本集团作为出租人

本集团根据经营租赁安排租赁其投资物业

（附注15），包括韩国若干商用物业。租

赁条款一般亦要求租户支付保证金，并根

据当前市况定期调整租金。本集团于年内

确认之租金收入为35,886,000港元（二零

二一年：19,212,000港元）。

于二零二年十二月三十一日，本集团根

据与其租户订立之不可撤销经营租赁于未

来期间收取之未贴现应收租赁款项如下：

Other intangible assets
其他无形资产
Goodwill	Trademarks	Gaming licenses	Total
商誉	商标	博彩牌照	总计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元
(Note)		(Note)
（附注）		（附注）

–	2,007	169,636	171,643
–	1,672	–	1,672
–	(337)	–	(337)
–	–	(8,735)	(8,735)
–	(88)	(9,768)	(9,856)
–	3,254	151,133	154,387
4,894	4,678	796,651	806,223
–	(1,424)	–	(1,424)
(4,894)	–	(645,518)	(650,412)
–	3,254	151,133	154,387

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

17 GODWIL AND OTHER INTANGIBLE

ASETS

31 December 2021二零二一年十二月三十一日

At 1 January 2021:于二零二一年一月一日：

Cost 成本5,6373,424917,585926,646

Acumulated amortisation 累计摊销–(879)–(879)

Acumulated impairment 累计减值(5,637)–(305,219)(310,856)

Net carying amount 账面净值–2,545612,366614,911

Cost at 1 January 2021,

net of acumulated amortisation

于二零二一年一月一日之成本，

扣除累计摊销–2,545612,366614,911

Amortisation provided during the year年度摊销拨备–(346)–(346)

Impairment during the year年度减值–(398,449)(398,449)

Exchange realignment汇兑调整–(192)(44,281)(44,473)

At 31 December 2021于二零二一年十二月三十一日–2,007169,636171,643

At 31 December 2021:于二零二一年十二月三十一日：

Cost 成本5,1873,151844,396852,734

Acumulated amortisation 累计摊销–(1,144)–(1,144)

Acumulated impairment 累计减值(5,187)–(674,760)(679,947)

Net carying amount 账面净值–2,007169,636171,643

31 December 2022二零二年十二月三十一日

Cost at 1 January 2022, net of于二零二年一月一日之成本，

acumulated amortisation 扣除累计摊销

Aditions添置

Amortisation provided during the year年度摊销拨备

Impairment provided during the year年度减值

Exchange realignment汇兑调整

At 31 December 2022于二零二年十二月三十一日

At 31 December 2022:于二零二年十二月三十一日：

Cost 成本

Acumulated amortisation 累计摊销

Acumulated impairment 累计减值

Net carying amount 账面净值

Note: Godwil was acquired through busines combination while gaming

licenses are regarded as having an indefinite useful life because the

licenses have no prescribed validity period. They are subjected to

anual impairment review.

17 商誉及其他无形资产

附注：商誉为透过业务合并获得，而由于博彩牌

照没有规定的有效期，该牌照被认为具有

无限可使用年限期。商誉及博彩牌照须作

出年度减值审阅。

2022
二零二二年
HK$’000
千港元
52,719
–
151,133

2022
二零二二年
71.71%
19%
3%

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

17 GODWIL AND OTHER INTANGIBLE

ASETS (continued)

Impairment asesment of Gaming CGU

Certain property, plant and equipment, godwil and

Gaming licenses have ben alocated to the Gaming CGU for

impairment testing. The carying amount of these asets are as

folows:

二零二一年

HK$’000

千港元

Property, plant and equipment物业、厂房及设备82,978

Godwil商誉–

Gaming licenses博彩牌照169,636

Gaming CGU

The recoverable amount of the Gaming CGU has ben

determined by value-in-use calculations using cash flow

projections based on financial budgets covering a five-year period

aproved by senior management. The management considered

the calculation based on the curent condition and location at

Jeju Shinhwa World, South Korea. The financial budgets are

prepared based on a five-year busines plan considering the past

performance, achievement of the medium or long-term growth

target. The financial budgets have also taken into consideration

the developments of Casino busines in Korea, including changes

in the customer mix and the trends of the composition of visitors

as wel as the resulting changes to expected costs and margins.

It has also taken into consideration the result of the significant

decrease in the number of visitors result from the adverse impact

brought by COVID-19, the reasonable expectation of the busines

recovery from COVID-19 and the cost saving initiatives. The

value-in-use calculations was reviewed by independent qualified

valuer, BMI Apraisals Limited. The key asumptions used for the

calculation are as folows:

Year ended 31 December

截至十二月三十一日止年度

二零二一年

Average growth rate of revenue平均收益增长率86.33%

Pre-tax discount rate除税前折现率17%

Terminal growth rate最终增长率3%

17 商誉及其他无形资产（续）

博彩业务现金产生单位减值测试

若干物业、厂房及设备、商誉以及博彩牌

照已分配至博彩业务现金产生单位以作减

值测试。该等资产之账面值载列如下：

博彩业务现金产生单位

博彩业务现金产生单位之可收回金额乃根

据高级管理层批准之五年财务预算计算得

出之现金流量预测，按使用价值计算法厘

定。管理层认为，计算乃以现况及地点

（位于南韩之济州神话世界）为基准。财务

预算根据五年业务计划编制，当中考虑过

往业绩、中长期增长目标的实现情况。财

务预算亦考虑了韩国娱乐场业务的发展，

包括客户结构的变动与旅客组合的趋势以

及由此产生的预计成本及利润率变动。此

外，亦考虑到因新型冠状病毒带来的不利

影响而导致旅客数量大幅减少的结果，业

务自新型冠状病毒复苏的合理预期，以及

节省成本的措施。此计算由独立合资格估

值师中和邦盟评估有限公司审阅。计算使

用价值所用主要假设如下：

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

17 GODWIL AND OTHER INTANGIBLE

ASETS (continued)

Impairment asesment of Gaming CGU (continued)

Gaming CGU (continued)

The folowing describes each key asumption on which

management has adopted in its cash flow projections to

undertake impairment testing of gaming CGU:

— Anual growth rate of revenue of each projected year

was determined based on various factors including but

not limited to the historical number of visitors, historical

and/or theoretical win rate, and historical gros gaming

revenue per person. Factors were considered based

on each type of gaming revenue which consists of VIP

gaming operations, mas market table, slot machine, and

electronic table game. The projection has also taken into

acount of the consumer price index, the implementation

of on-going busines strategy by the management and

the adverse impact brought by COVID-19. For the year

ended 31 December 2022, the revenue of the Gaming

Busines was HK$46,127,000, representing a decrease of

47.9% when compared to the year ended 31 December

2021 (2021: HK$88,604,000, representing a decrease of

52.5% when compared to the year ended 31 December

2020). The tourism statistic of Korea indicated that the

number of foreign visitors in 2021 and 2022 have droped

by 94% and 82%, respectively, as compared to the number

of foreign visitors in 2019, which caused direct impact on

the visitation to the foreigner-only casino in Korea. The

adoption of the projected average anual growth rate of

71.71% (2021: 86.33%), which was adjusted downwards,

has taken into acount changes of past performances,

the extent of rebound of visitation of the casino after a

substantialy low level during COVID-19 pandemic and

the reasonable expectations of (i) pace of transitions from

a pandemic to endemic, (i) the lift of travel restrictions

in diferent countries, and (i) the pace of recovery of

the performance of Gaming CGU to past levels with the

implementation of busines strategy after normalisation of

busines in coming years.

– Terminal growth rates beyond the five-year period has

taken into acount of the historical growth rate of the

gaming industry in Korea, average consumer price index

in the past five years and other relevant economic factors

for the gaming busines in which it operates.

17 商誉及其他无形资产（续）

博彩业务现金产生单位减值测试（续）

博彩业务现金产生单位（续）

下文阐述管理层于进行博彩业务现金产生

单位减值测试时所采用现金流量预测之各

项主要假设：

－各预测年度收益之每年增长率乃根

据各项因素厘订，包括但不限于

旅客的过往人数、过往及╱或理论

赢款率以及过往人均博彩收益总

额。各项因素乃基于各类别的博彩

收益，其中包括贵宾博彩业务、中

场赌枱、角子机及电子博彩桌。预

测亦已考虑到消费物价指数、管理

层实施的持续业务策略及新型冠状

病毒带来的不利影响。截至二零

二年十二月三十一日止年度，博

彩业务收益为46,127,000港元，较

截至二零二一年十二月三十一日

止年度减少47.9%（二零二一年：

88,604,000港元，相当于较截至二

零二零年十二月三十一日止年度减

少52.5%）。韩国旅游业数据显示二

零二一年及二零二年到访的外国

旅客数目较二零一九年到访的外国

旅客数目分别减少94%及82%，直

接导致韩国外国人专用娱乐场访客

量下跌。采纳预测平均年度增长率

71.71%（二零二一年：86.33%）（已

向下调整）已计及过往业绩的变化，

新型冠状病毒疫情期间娱乐场所访

客量自极低水平反弹的程度，以及

下列因素的合理预期：(i)疫情过渡

至风土病的速度；(i)多国解除旅游

限制；及(i)未来数年业务重拾正常

后，实施业务策略使博彩现金产生

单位表现恢复至过往水平的速度。

－五年期后的最终增长率乃经计及韩

国博彩业的过往增长率、过去五年

的平均消费者物价指数以及就其所

经营的博彩业务的其他相关经济因

素。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

17 GODWIL AND OTHER INTANGIBLE

ASETS (continued)

Impairment asesment of Gaming CGU (continued)

Gaming CGU (continued)

– Discount rate is adopted based on the analysis performed

by an independent profesional valuer which reflects (i) the

curent market asesments of the time value of money

with reference to the relevant industry and comparable

companies in relevant countries, and (i) the risk premium

specific to the Gaming CGU.

The values asigned to the above key asumptions are

consistent with external information sources.

The management is of the view that the valuation techniques

and estimates they have employed are reflective of the curent

market conditions and have taken into acount the impact of

COVID-19 based on information available as at 31 December

2022. Given that (i) the heightened uncertainty over the length

of COVID-19 outbreak worldwide, (i) the impact of worldwide

travel restrictions afects the number of visitors to the foreigner-

only casino, and (i) the ongoing measures being adopted to

adres the outbreak, valuations may be subjected to more

fluctuation subsequent to 31 December 2022 than during

normal market conditions.

During the year ended 31 December 2022, the impairment of

other intangible asets HK$8,735,000 (2021: HK$398,449,000)

were recognised in the consolidated statement of profit or los.

The impairment is mainly a result of the chalenging market

environment which was further acelerated by the adverse efect

brought by COVID-19 leading to the continued low number of

foreign visitors to the casino during the year.

If the average growth rate of revenue aplied the cash flow

projections of the CGU had ben 1% lower than management’s

estimates while overal expenses have adjusted acordingly,

the value-in-use of the CGU would be lower than the estimate

amount by aproximately HK$8,007,000 (2021: HK$8,180,000).

17 商誉及其他无形资产（续）

博彩业务现金产生单位减值测试（续）

博彩业务现金产生单位（续）

－折现率乃根据独立专业估值师进行

的分析而采纳，该分析反映(i)参考

于相关国家的相关行业及可资比较

公司对资金时间价值的现行市场评

估；及(i)博彩业务现金产生单位的

特定风险溢价。

上述主要假设获赋予之价值与外部资料来

源一致。

管理层认为，彼等所采用的估值技术及估

计能反映当前市况，并已根据截至二零

二年十二月三十一日的可得资料考虑新

型冠状病毒的影响。鉴于(i)新型冠状病毒

在全球爆发的时间长度的不确定性增加；

(i)全球的旅游限制影响了外国人专用娱乐

场的访客数量；以及(i)为应对疫情而正

在采取的措施，二零二年十二月三十一

日后的估值可能会较在正常市况下的估值

受到更大波动。

截至二零二年十二月三十一日止年度，

其他无形资产减值为8,735,000港元（二零

二一年：398,449,000港元）于综合损益表

内确认。减值乃主要由于市场环境充满挑

战，新型冠状病毒带来的不利影响进一步

导致年内外国访客到访娱乐场的数目持续

处于低位。

倘按现金产生单位的现金流量预测的收益

平均增长率较管理层估计低1%，且整体

开支已相应调整，则现金产生单位的使用

价值将较估计金额低约8,007,000港元（二

零二一年：8,180,000港元）。

2022
二零二二年
HK$’000
千港元
13,866

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

17 GODWIL AND OTHER INTANGIBLE

ASETS (continued)

Impairment asesment of Gaming CGU (continued)

Gaming CGU (continued)

If the pre-tax discount rate aplied the cash flow projections of

the CGU had ben 1% higher than management’s estimates,

the value-in-use of the CGU would be lower than the estimate

amount by aproximately HK$20,452,000 (2021: HK$35,115,000).

If the terminal growth rate aplied the cash flow projections of

the CGU had ben 1% lower than management’s estimates,

the value-in-use of the CGU would be lower than the estimate

amount by aproximately HK$15,521,000 (2021: HK$25,585,000).

18 EQUITY INVESTMENTS DESIGNATED

AT FAIR VALUE THROUGH OTHER

COMPREHENSIVE INCOME

二零二一年

HK$’000

千港元

Equity investments designated at fair value

through other comprehensive income

指定为按公平价值计入其他

全面收益之股权投资

Listed equity investments, at fair value 上市公司股权投资，

按公平价值17,957

The above equity investments are investments in companies

listed on the Stock Exchange and were irevocably designated

at fair value through other comprehensive income as the Group

considers these investments to be strategic in nature.

During the year ended 31 December 2022, the Group

received dividends of HK$85,000 (2021: HK$76,000) from the

equity investments designated at fair value through other

comprehensive income.

17 商誉及其他无形资产（续）

博彩业务现金产生单位减值测试（续）

博彩业务现金产生单位（续）

倘按现金产生单位的现金流量预测的除

税前折现率较管理层估计高1%，则现金

产生单位的使用价值将较估计金额低约

20,452,000港元（二零二一年：35,115,000

港元）。

倘现金产生单位的现金流量预测所使用

的最终增长率较管理层估计低1%，现金

产生单位的使用价值将较估计金额低约

15,521,000港元（二零二一年：25,585,000

港元）。

18 指定为按公平价值计入其他全面

收益之股权投资

上述股权投资为于联交所上市公司之投

资，及由于本集团认为此等投资属策略性

质，上述股权投资为不可撤回地指定为按

公平价值计入其他全面收益。

截至二零二年十二月三十一日止年度，

本集团自指定为按公平价值计入其他全面

收益之股权投资收取股息为85,000港元

（二零二一年：76,000港元）。

2022
二零二二年
HK$’000
千港元
24,392
(359)
24,033
3,469
77,358
20,332
3
10,091
96,795
232,081
(104,435)
127,646

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

19 PREPAYMENTS, TRADE AND OTHER

RECEIVABLES

二零二一年

HK$’000

千港元

Trade receivables应收贸易款项23,737

Les: Los alowance for impairment

of trade receivables

减：应收贸易款项之

减值亏损拨备(493)

Trade receivables, net (Note (i)应收贸易款项，

净额（附注(i)）23,244

Receivables from gaming customers (Note (i)应收博彩客户款项（附注(i)）224

Other receivables (Note (i)其他应收款项（附注(i)）9,224

Prepayments 预付款项22,954

Value-aded tax recoverable可收回增值税523

Deposits (Note (iv)订金（附注(iv)）10,119

Restricted deposit for bank borowing银行借贷之受限制存款122,437

188,725

Les: Non-curent portion减：非即期部分(4,154)

Curent portion即期部分184,571

Notes:

(i) Trade receivables, net

The Group’s trading terms with its trade customers are mainly

on credit, except for new customers, where payment in advance

is normaly required. The credit period is generaly one month,

extending up to thre months for major customers. Each customer

has a maximum credit limit. The Group seks to maintain strict control

over its outstanding receivables to minimise credit risk and overdue

balances are reviewed regularly by senior management. In view of the

aforementioned and the fact that the Group’s trade receivables relate

to a large number of diversified customers, there is no significant

concentration of credit risk. The Group does not hold any colateral or

other credit enhancements over its trade receivable balances. Trade

receivables are non-interest bearing.

19 预付款项、应收贸易款项及其他

应收款项

附注：

(i) 应收贸易款项，净额

本集团与其贸易客户之贸易条款主要为信

贷，惟新客户除外，新客户一般须预先付

款。信贷期一般为一个月，主要客户可延

长至三个月。每名客户均设有最高信贷限

额。本集团设法维持严格控制其未收回应

收款项，以尽量减低信贷风险，而逾期结

余由高级管理人员定期检讨。鉴于上文所

述及本集团之应收贸易款项与大量分散客

户有关，故不存在重大集中信贷风险。本

集团并无就其应收贸易款项结余持有任何

抵押品或推行其他加强信贷措施。应收贸

易款项不计息。

2022
二零二二年
HK$’000
千港元
23,303
288
65
377
24,033

2022
二零二二年
HK$’000
千港元
493
(33)
(71)
(30)
359

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

19 PREPAYMENTS, TRADE AND OTHER

RECEIVABLES (continued)

Notes: (continued)

(i) Trade receivables, net (continued)

An ageing analysis of the trade receivables as at the end of the

reporting period, based on the invoice date and net of los alowance,

is as folows:

二零二一年

HK$’000

千港元

Within 30 days30日内22,931

31 to 60 days31至60日205

61 to 90 days61至90日74

Over 90 days90日以上34

23,244

The movements in the los alowance for impairment of trade

receivables are as folows:

二零二一年

HK$’000

千港元

At begining of year于年初80

(Reversal of impairment)/impairment loses

recognised, net

（减值拨回）╱减值亏损确认，净额

Amount writen of as uncolectible撇销为不可收回金额–

Exchange realignment汇兑调整(21)

At end of year于年末493

The Group aplies a simplified aproach in calculating expected

credit loses. An impairment analysis is performed at each reporting

date using a los rate aproach to measure expected credit loses.

The provision rates are based on a number of factors which include

(i) debtors’ ageing; (i) historical repayment behavior of debtors;

(i) other debtors’ specific information available to the Group;

(iv) likelihod of recovery; and (v) taking into acount prevailing

and future economic conditions which are relevant for credit risk

asesment. The credit risk categorisation is adjusted to reflect

subsequent information uncovered to an extent that such information

provides evidence of conditions existed as at the year end date and

forward-loking information. The expected los rates are estimated

based on the expected cash flows that can be recovered based on

historical recovery ratios.

19 预付款项、应收贸易款项及其他

应收款项（续）

附注：（续）

(i) 应收贸易款项，净额（续）

于报告期间结算日，按发票日期及扣除亏

损拨备后呈列之应收贸易款项账龄分析如

下：

应收贸易款项减值亏损拨备变动如下：

本集团采用简化方法计算预期信贷亏损。

于各报告日期使用亏损率法进行减值分析

以计量预期信贷亏损。拨备率乃根据多项

因素厘定，其中包括(i)债务人之账龄；(i)

债务人过往还款行为；(i)本集团可得其他

债务人特定资料；(iv)收回款项之可能性；

及(v)考虑到与信贷风险评估有关之现时及

未来经济状况。信贷风险分类经已调整，

以反映未曾发现之后续资料，致使有关资

料提供截至年结日所存在条件之证据及前

瞻性资料。预期亏损率乃根据按历史收回

率计算可收回之预期现金流量估计。

Past due
逾期
Within 30 days	31 to 60 days	61 to 90 days	Over 90 days	Total
30日内	31至60日	61至90日	超过90日	总计
0.00%	0.00%	0.00%	4.88%	1.47%
23,303	288	65	736	24,392
–	–	–	359	359

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

19 PREPAYMENTS, TRADE AND OTHER

RECEIVABLES (continued)

Notes: (continued)

(i) Trade receivables, net (continued)

Set out below is the information about the credit risk exposure on the

Group’s trade receivable using a provision matrix:

As at 31 December 2022

Expected credit los rate预期信贷亏损率

Gros carying amount

(HK$’000)

账面总值

（千港元）

Expected credit loses

(HK$’000)

预期信贷亏损

（千港元）

As at 31 December 2021

Past due

逾期

Within 30 days31 to 60 days61 to 90 daysOver 90 daysTotal

30日内31至60日61至90日超过90日总计

Expected credit los rate预期信贷亏损率0.00%0.00%0.00%93.5%2.08%

Gros carying amount

(HK$’000)

账面总值

（千港元）22,9312057452723,737

Expected credit loses

(HK$’000)

预期信贷亏损

（千港元）–493493

(i) Receivables from gaming customers

The Group’s trading terms with gaming customers are mainly on

credit. The credit term is generaly 30 days for gaming operations.

Each gaming customer has a maximum credit limit. Overdue balances

are reviewed regularly by the management. At the end of the

reporting period, the Group has certain concentration of credit risk

as 100% (2021: 100%) and 100% (2021: 100%) of the Group’s gaming

receivables represent the Group’s highest gaming receivable from

a customer and five highest gaming receivables from customers,

respectively. The Group does not hold any colateral or other

credit enhancements over its gaming receivable balances. Gaming

receivables are non-interest-bearing.

19 预付款项、应收贸易款项及其他

应收款项（续）

附注：（续）

(i) 应收贸易款项，净额（续）

以下载列有关本集团应收贸易款项使用拨

备矩阵的信贷风险的资料：

于二零二年十二月三十一日

于二零二一年十二月三十一日

(i) 应收博彩客户款项

本集团与博彩客户之交易条款主要与信贷

有关。博彩业务之信贷期一般为30日。

每名博彩客户均设有最高信贷限额。管理

层定期检讨逾期余款。于报告期末，本集

团就应收本集团最大博彩客户及五大博彩

客户之款项承担若干信贷集中风险，分

别占本集团博彩应收款项之100%（二零

二一年：100%）及100%（二零二一年：

100%）。本集团并无就其博彩应收款项结

余持有任何抵押品或推行其他加强信贷措

施。博彩应收账款并不计息。

2022
二零二二年
HK$’000
千港元
3,292
177
3,469

2022
二零二二年
HK$’000
千港元
336,260
19
(25,244)
311,035

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

19 PREPAYMENTS, TRADE AND OTHER

RECEIVABLES (continued)

Notes: (continued)

(i) Receivables from gaming customers (continued)

The ageing analysis of the receivables from gaming customers as at

the end of the reporting period, based on the invoice date and net of

los alowance, is as folows:

二零二一年

HK$’000

千港元

Within 30 days30日内224

61 to 90 days61至90日–

Receivables from gaming customers include receivables from

individual gaming players, which are interest-fre and repayable on

demand. These balances are granted with reference to their credit

history and track record setlement.

The movements in the los alowance for impairment of gaming

receivables are as folows:

二零二一年

HK$’000

千港元

At begining of year于年初348,173

Impairment loses recognised , net减值亏损确认，净额6,726

Exchange realignment汇兑调整(18,639)

At end of year于年末336,260

During the year ended 31 December 2022, the los alowance of

HK$19,000 was recognised as a result of an increase in gaming

receivables which were past due for over 60 days and expected credit

los was adjusted acordingly. As at 31 December 2022, receivables

from gaming customers amounting to HK$311,035,000 (2021:

HK$336,260,000) were fuly impaired and provided for. During the

year ended 31 December 2021, the los alowance of HK$6,726,000

was recognised as a result of the slugish recovery of bad debt, which

impaired previously, of HK$348,173,000 and expected credit los rate

was adjusted acordingly.

19 预付款项、应收贸易款项及其他

应收款项（续）

附注：（续）

(i) 应收博彩客户款项（续）

于报告期间结算日，按发票日期及扣除亏

损拨备后呈列之应收博彩客户款项账龄分

析如下：

应收博彩客户款项包括个别博彩赌客之应

收款项，有关款项为免息及须按要求偿

还。该等结余乃经参考彼等之信贷记录及

往绩结算记录而授出。

博彩应收款项减值亏损拨备变动如下：

截至二零二年十二月三十一日止年度，

由于逾期超过六十日之博彩应收账款增

加，确认亏损拨备19,000港元。于二零

二年十二月三十一日，应收博彩客户

款项为311,035,000港元（二零二一年：

336,260,000港元）已全数减值及作拨备。

截至二零二一年十二月三十一日止年度，

因收回先前已减值的坏账348,173,000港元

进度缓慢而确认亏损拨备6,726,000港元，

而预期信贷亏损已相应调整。

Past due
逾期
Within 30 days	31 to 60 days	61 to 90 days	Over 90 days	Total
30日内	31至60日	61至90日	超过90日	总计
0.00%	0.00%	9.69%	100.00%	98.90%
3,292	–	196	311,016	314,504
–	–	19	311,016	311,035

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

19 PREPAYMENTS, TRADE AND OTHER

RECEIVABLES (continued)

Notes: (continued)

(i) Receivables from gaming customers (continued)

The Group aplies a simplified aproach in calculating expected

credit loses. An impairment analysis is performed at each reporting

date using a los rate aproach provision matrix to measure expected

credit loses. The provision rates are based on a number of factors

which include (i) debtors’ ageing; (i) historical repayment behavior of

debtors; (i) other debtors’ specific information available to the Group;

and (iv) curent industry conditions and future economic outlok which

are relevant for credit risk asesment. The credit risk categorisation

is adjusted to reflect subsequent information uncovered to an extent

that such information provides evidence of conditions existed as at

the year end date and forward-loking information. The expected

los rates are estimated based on the expected cash flows that can be

recovered based on historical recovery ratios.

Set out below is the information about the credit risk exposure on the

Group’s gaming receivable using a provision matrix:

As at 31 December 2022

Expected credit los rate预期信贷亏损率

Gros carying amount

(HK$’000)

账面总值

（千港元）

Expected credit loses

(HK$’000)

预期信贷亏损

（千港元）

As at 31 December 2021

Past due

逾期

Within 30 days31 to 60 days61 to 90 daysOver 90 daysTotal

30日内31至60日61至90日超过90日总计

Expected credit los rate预期信贷亏损率0.00%0.00%0.00%100.00%99.93%

Gros carying amount

(HK$’000)

账面总值

（千港元）224–336,260336,484

Expected credit loses

(HK$’000)

预期信贷亏损

（千港元）–336,260336,260

19 预付款项、应收贸易款项及其他

应收款项（续）

附注：（续）

(i) 应收博彩客户款项（续）

本集团采用简化方法计算预期信贷亏损。

于各报告日期使用亏损率法拨备矩阵进行

减值分析以计量预期信贷亏损。拨备率乃

根据多项因素厘定，其中包括(i)债务人之

账龄；(i)债务人过往还款行为；(i)本集团

可得其他债务人特定资料；及(iv)与信贷风

险评估有关之现时行业状况及未来经济前

景。信贷风险分类经已调整，以反映未曾

发现之后续资料，致使有关资料提供截至

年结日所存在条件之证据及前瞻性资料。

预期亏损率乃根据按历史收回率计算可收

回之预期现金流量估计。

以下载列有关本集团应收博彩客户账款使

用拨备矩阵的信贷风险的资料：

于二零二年十二月三十一日

于二零二一年十二月三十一日

2022
二零二二年
HK$’000
千港元
78,520
(63,168)
(56)
(5,816)
9,480

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

19 PREPAYMENTS, TRADE AND OTHER

RECEIVABLES (continued)

Notes: (continued)

(i) Other receivables

Included in the Group’s other receivables are receivables from

debtors in non-trade nature. The other receivables balances are

interest-fre and repayable on demand. The Group does not hold

any colateral or other credit enhancements over its other receivable

balances.

Increase in balance was mainly due to the reversal of los alowance

of HK$63,217,000 in relation to the lease-related receivables and

management fe receivables from independent third parties.

The movements in impairment alowance of other receivables are as folows:

二零二一年

HK$’000

千港元

At begining of year于年初91,385

Reversal of impairment loses recognised, net减值亏损拨回确认，净额(6,378)

Amount writen of as uncolectible, net撇销为不可收回金额，净额–

Exchange realignment汇兑调整(6,487)

At end of year于年末78,520

In the opinion of the directors, the impairment was specific in nature

which was considered in default due to indicators which showed that

the Group was unlikely to receive the outstanding contractual amount.

The decrease in the los alowance was mainly due to the reversal of

los alowance of HK$63,217,000 (2021: HK$3,190,000) in relation to

the lease-related receivables and management fe receivables from

independent third parties.

Expected credit loses on the other receivables balances are

estimated by aplying a los rate aproach with reference to

historical los records of the Group. Based on historical los records

and economic conditions, the directors are of the opinion that the

expected credit loses on the other receivables are minimal.

(iv) Deposits

As at 31 December 2022, among the deposits, HK$2,475,000 (2021:

HK$2,623,000) has ben pledged as colateral in relation to a lawsuit

in Korea.

19 预付款项、应收贸易款项及其他

应收款项（续）

附注：（续）

(i) 其他应收款项

计入本集团其他应收款项为应收债务人之

其他属非贸易性质之款项。其他应收款均

为免息及须按要求偿还。本集团并无就其

他应收款项结余持有任何抵押品或推行其

他加强信贷措施。

余额增加的主要原因是有关独立第三方之

租赁相关应收账款及管理费应收账款之减

值亏损拨回63,217,000港元。

其他应收款项减值拨备之变动如下：

董事认为，由于有迹象显示本集团不大可

能收取未偿还合约金额，故减值亏损属特

定性质。亏损拨备减少乃主要由于有关独

立第三方之租赁相关应收账款及管理费应

收账款之减值亏损拨回63,217,000港元（二

零二一年：3,190,000港元）。

其他应收款项结存之预期信贷亏损乃采用

亏损率法经参考本集团之过往亏损记录作

出估算。基于过往亏损记录及经济环境，

董事认为，其他应收款项之预期信贷亏损

微乎其微。

(iv) 订金

于二零二年十二月三十一日，在订金内

的2,475,000港元（二零二一年：2,623,000

港元）为已被抵押为与韩国诉讼有关的抵押

品。

2022
二零二二年
HK$’000
千港元
6,341
225,641
98
1
232,081

2022
二零二二年
HK$’000
千港元
113,921
(498)
2,924
–
(8,811)
107,536
107,536
107,536

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

19 PREPAYMENTS, TRADE AND OTHER

RECEIVABLES (continued)

Notes: (continued)

(v) Other than trade receivables, gaming receivables and other

receivables, the remaining financial asets included in the above

balances relates to receivables for which there was no recent history

of default and past due amounts. As at 31 December 2022 and 2021,

the los alowance was asesed to be minimal.

The carying amounts of the Group’s prepayments, trade and other

receivables aproximated their fair values and are denominated in the

folowing curencies:

二零二一年

HK$’000

千港元

HK$港元9,860

KRW韩圜178,864

US$美元–

Others其他1

188,725

20 PROPERTIES UNDER DEVELOPMENT

二零二一年

HK$’000

千港元

At the begining of the year, at cost于年初，按成本值122,622

Transfer to completed properties for sale转拨至待售已落成物业–

Transfer from properties, plant and equipment

(Note 14)

转拨自物业、厂房及设备

(附注14)777

Transfer to properties, plant and equipment

(Note 14)

转拨至物业、厂房及设备

(附注14)(1,930)

Exchange realignment汇兑调整(7,548)

At the end of the year, at cost于年末，按成本值113,921

Properties under development comprises:发展中物业包括:

Land use rights 土地使用权113,921

Properties under development pending

construction expected to be recovered

beyond more than one year

仍待建造而预期

将于超过一年后

变现之发展中物业113,921

19 预付款项、应收贸易款项及其他

应收款项（续）

附注：（续）

(v) 除应收贸易款项、博彩应收款项及其他应

收款项外，计入上述结余之其余的财务资

产与最近并无违约及逾期款项记录之应收

款项有关。于二零二年及二零二一年

十二月三十一日，亏损拨备估计为极小。

本集团预付款项、应收贸易款项及其他应

收款项之账面值与其公平价值相若，并以

下列货币计值：

20 发展中物业

2022
二零二二年
HK$’000
千港元
107,536

2022
二零二二年
HK$’000
千港元
427,572
12,021
17,383
456,976

2022
二零二二年
HK$’000
千港元
17,383

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

20 PROPERTIES UNDER DEVELOPMENT

(continued)

The analysis of land costs with an agregate net carying

amount included in properties under development is as folows:

二零二一年

HK$’000

千港元

South Korea南韩

Frehold land永久业权土地113,921

At 31 December 2022, the Group’s properties under

development with an agregate carying value of

HK$107,536,000 (2021: Nil) was pledged to secure general

banking facilities granted to the Group (Note 25).

21 COMPLETED PROPERTIES FOR SALE

二零二一年

HK$’000

千港元

Completed properties for sale comprises:待售已落成物业包括：

Construction cost and

other capitalised expenditures

建筑成本及其他

资本化开支570,483

Interest capitalised 资本化利息17,003

Land use rights 土地使用权22,488

609,974

The analysis of land costs with an agregate net carying

amount included in completed properties for sale is as folows:

二零二一年

HK$’000

千港元

South Korea南韩

Frehold land永久业权土地22,488

The Group’s completed properties for sale are located in South

Korea. The completed properties for sale are stated at the lower

of cost and net realisable value at the end of the reporting

period.

20 发展中物业（续）

计入发展中物业之土地成本连同账面净值

总额之分析如下：

于二零二年十二月三十一日，本集团总

账面值为107,536,000港元（二零二一年：

无）之发展中物业抵押作为本集团获授一

般银行融资之担保（附注25）。

21 待售已落成物业

计入待售已落成物业之土地成本连同账面

净值总额之分析如下：

本集团之待售已落成物业位于南韩。于报

告期末，待售已落成物业按成本与可变现

净值之较低者列账。

2022
二零二二年
HK$’000
千港元
48,490
8,428
56,918

2022
二零二二年
HK$’000
千港元
332,514
170,907
62,793
566,214
(62,793)
503,421

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

21 COMPLETED PROPERTIES FOR SALE

(continued)

During the year ended 31 December 2022, cost of completed

properties for sale amounted to HK$171,945,000 (2021:

HK$178,363,000) were recognised in the consolidated statement

of profit or los.

At 31 December 2022, the Group’s completed properties

for sale with a carying value of HK$456,976,000 (2021:

HK$609,974,000) were pledged to secure general banking

facilities granted to the Group (Note 25).

Further particulars of the Group’s completed properties for sale

are included on page 219.

22 INVENTORIES

二零二一年

HK$’000

千港元

Raw materials原材料53,295

Finished gods制成品10,522

63,817

23 CASH AND CASH EQUIVALENTS AND

RESTRICTED CASH

二零二一年

HK$’000

千港元

Cash and bank balances 现金及银行结余650,652

Short-term time deposits短期定期存款170,265

Restricted cash for the Cash Incident (Note)现金事件受限制现金（附注）66,556

887,473

Les: Restricted cash for

the Cash Incident (Note)

减：现金事件受限制现金

（附注）(66,556)

Cash and cash equivalents现金及现金等价物820,917

21 待售已落成物业（续）

截至二零二年十二月三十一日止年度，

待售已落成物业成本于综合损益表中确

认为171,945,000港元（二零二一年：

178,363,000港元）。

于二零二年十二月三十一日，本集团账

面值为456,976,000港元（二零二一年：

609,974,000港元）之待售已落成物业抵押

作为本集团获授一般银行融资之担保（附

注25）。

本集团待售已落成物业之进一步详情载于

第219页。

22 存货

23 现金及现金等价物及受限制现金

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

23 CASH AND CASH EQUIVALENTS AND

RESTRICTED CASH (continued)

Note:

On 4 January 2021, management of the Group discovered that certain funds

amounting to KRW14,555,000,000 (equivalent to HK$103,713,000) belonging

to the Group kept in Jeju, South Korea was mising (the “Cash Incident”).

The Group was unable to reach the employe-in-charge of the funds and the

Cash Incident was reported to the police in South Korea.

Based upon the Investigation Progres Notification isued by Jeju Special

Self-Governing Provincial Police Agency of Korea (the “Jeju Police”) to the

Group in March 2021, the Jeju Police revealed that KRW13,400,000,000

(equivalent to retranslated amount of HK$82,899,000 as at 31 December

2022) (the “Seized Money”) was seized by them in acordance with the

due proces of Korean law, and are being kept in the deposit acount of

a bank under the name of the Jeju Police. Acording to the legal opinions

from independent lawyers, the Seized Money is expected to be part of the

amount of the Group mised as a result of the Cash Incident and wil be

retained by the Jeju Police until the investigation proces is complete.

Based on the report of factual findings isued by an independent external

auditor in Korea, the cash balance in relation to the Cash Incident

located in a premises of the Group in Korea and under the Group’s

posesion as at 31 December 2020 was KRW10,150,000,000 (equivalent to

HK$72,325,000). Acordingly, cash los of KRW4,405,000,000 (equivalent

to HK$28,961,000) was recognised in the consolidated statement of profit

or los for the year ended 31 December 2020. The remaining balance of

the Seized Money were found elsewhere but is anticipated to be part of

the mising fund. The investigation is stil being conducted by the Jeju

Police, and as at 31 December 2022, the balance of this restricted cash

amounted to KRW10,150,000,000 (equivalent to HK$62,793,000) (2021:

KRW10,150,000,000).

23 现金及现金等价物及受限制现金

（续）

附注：

于二零二一年一月四日，本集团管理层发现属于

本集团于南韩济州保管的若干款项14,555,000,000

韩圜（相当于103,713,000港元）遗失（「现金事

件」）。本集团未能联系负责该笔款项的雇员，并

已就现金事件向南韩警方报案。

于二零二一年三月，根据韩国济州特别自治道警

察厅（「济州警方」）向本集团发出的调查进展通

知，济州警方透露其已根据韩国法律的正当程

序，扣押13,400,000,000韩圜（相当于二零二年

十二月三十一日之重新换算金额82,899,000港元）

（「扣押款」），并以济州警方的名义存放于银行的

存款账户中。根据独立律师的法律意见，扣押款

预计将为就现金事件对本集团造成之部份失款，

并将由济州警方保管直至完成调查程序。

根据韩国外部独立核数师的事实调查报告，于二

零二零年十二月三十一日，本集团存放于韩国

的物业并由本集团保管有关现金事件的现金结

余为10,150,000,000韩圜（相当于72,325,000港

元）。因此，现金失款4,405,000,000韩圜（相当

于28,961,000港元）已于截至二零二零年十二月

三十一日止年度综合损益表内确认。在其他地方

找回的扣押款的余额，预计将为失款的一部分。

调查仍由济州警方进行，而于二零二年十二月

三十一日，此受限制现金结余为10,150,000,000

韩圜（相当于62,793,000港元）（二零二一年：

10,150,000,000韩圜）。

2022
二零二二年
HK$’000
千港元
227,245
654
260,130
7,940
5,478
1,885
89
503,421

2022
二零二二年
HK$’000
千港元
7,584
8,877
–
77,864
52,969
35,105
84,724
69,057
336,180
(12,783)
323,397

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

23 CASH AND CASH EQUIVALENTS AND

RESTRICTED CASH (continued)

Cash at banks earns interest at floating rates based on daily

bank deposit rates. Short term time deposits are made for

varying periods of betwen 1 month and 3 months depending

on the imediate cash requirements of the Group, and earn

interest at the respective short term time deposit rates. The

bank balances and short-term time deposits are deposited with

creditworthy banks with no recent history of default.

Cash and cash equivalents are denominated in the folowing

curencies:

二零二一年

HK$’000

千港元

HK$港元392,137

GBP英镑737

KRW韩圜418,674

SGD新加坡元2,879

US$美元4,102

PHP菲律宾披索2,318

Others其他70

820,917

24 TRADE AND OTHER PAYABLES

二零二一年

HK$’000

千港元

Trade payables (Note)应付贸易款项（附注）8,773

Deposit received已收订金4,773

Defered revenue递延收益2,208

Acrued expenses应计开支79,307

Acrued employe benefits应计雇员福利54,426

Other tax payables其他应付税项161,176

Other payables (Note)其他应付款项（附注）96,735

Contract liabilities合约负债113,121

520,519

Les: Non-curent portion减：非即期部分(11,890)

Curent portion即期部分508,629

23 现金及现金等价物及受限制现金

（续）

银行现金按每日银行存款利率计算之浮动

利率赚取利息。短期定期存款之期限由1

个月至3个月不等，视乎本集团之即时现

金需求而定，并按各自之短期定期存款利

率赚取利息。银行结余及短期定期存款存

放于信誉良好且近期并无违约记录之银

行。

现金及现金等价物以下列货币计值：

24 应付贸易款项及其他应付款项

2022
二零二二年
HK$’000
千港元
4,934
–
331,015
84
147
336,180

2022
二零二二年
Effective interest rate	Maturity	HK$’000
实际利率
(%)	到期日	千港元
2.75% +Korea Commercial Paper rate	2023	31,937
2.75厘 +韩国商业票据利率	二零二三年
2.75% +Korea Commercial Paper rate	2025	1,524,213
2.75厘 +韩国商业票据利率	二零二五年
2.75厘 +韩国商业票据利率	1,556,150

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

24 TRADE AND OTHER PAYABLES (continued)

Note:

Trade payables and other payables are non-interest bearing and have an

average term of 1 month.

Trade and other payables are denominated in the folowing

curencies:

二零二一年

HK$’000

千港元

HK$港元86,557

RMB人民币6,500

KRW韩圜421,933

SGD新加坡元5,381

Others其他148

520,519

25 INTEREST-BEARING BANK BOROWING

二零二一年

Efective

interest rateMaturityHK$’000

实际利率

(%)到期日千港元

Curent即期

Bank loan — secured银行贷款— 抵押5.98%20222,114,515

5.98厘二零二年

Non-curent非即期

Bank loan — secured银行贷款— 抵押–

–

2,114,515

24 应付贸易款项及其他应付款项

（续）

附注：

应付贸易款项及其他应付款项为免息，平均期限

为1个月。

应付贸易款项及其他应付款项以下列货币

计值：

25 计息银行借贷

2022
二零二二年
HK$’000
千港元
31,937
1,524,213
1,556,150
(31,937)
1,524,213

2022
二零二二年
HK$’000
千港元
1,556,150

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

25 INTEREST-BEARING BANK BOROWING

(continued)

二零二一年

HK$’000

千港元

Analysed into:分析：

Bank borowing repayable: 于下列期间偿还之

银行贷款：

Within one year 一年内2,114,515

In the third year 第三年–

2,114,515

Les: Amount repayable within one year

and clasified as curent portion

减：于一年内偿还列为

即期部分的金额(2,114,515)

Amount clasified as non-curent portion列为非即期部分的金额–

The bank borowing is secured by the Group’s property,

plant and equipment amounting to HK$1,645,152,000 (2021:

HK$1,375,739,000) (Note 14), investment properties amounting

to HK$89,102,000 (2021: HK$62,364,000) (Note 15), properties

under development amounting to HK$107,536,000 (2021:Nil)

(Note 20) and completed properties for sale amounting to

HK$456,976,000 (2021: HK$609,974,000) (Note 21).

二零二一年

HK$’000

千港元

KRW韩圜2,114,515

25 计息银行借贷（续）

银行借贷以本集团物业、厂房及设备

为1,645,152,000港元（二零二一年：

1,375,739,000港元）（附注14）、投资

物业为89,102,000港元（二零二一年：

62,364,000港元）（附注15）、发展中物业

为107,536,000港元（二零二一年：无）（附

注20）及待售已落成物业为456,976,000港

元（二零二一年：609,974,000港元）（附注

21）作担保。

Accrued expenses	Fair value adjustments	Others	Total
应计开支	公平价值调整	其他	总计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元

2,369	–	–	2,369
–	79	–	79
(610)	(813)	(907)	(2,330)
13,396	15,944	15,142	44,482

2022
二零二二年
HK$’000
千港元
44,482

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

26 DEFERED TAX LIABILITIES

The movements in defered tax liabilities during the year,

without taking into consideration the ofseting of balances

within the same tax jurisdiction, is as folows:

At 1 January 2021于二零二一年一月一日9,19718,41717,44045,054

Defered tax debited to the

statement of profit or los

during the year

于年内递延税项借记至

损益表

3,286–3,286

Defered tax credited to

equity during the year

年内计入权益

之递延税项–(453)–(453)

Exchange realignment汇兑调整(846)(1,286)(1,391)(3,523)

At 31 December 2021 and

1 January 2022

于二零二一年

十二月三十一日及

二零二年一月一日11,63716,67816,04944,364

Defered tax debited to the

statement of profit or los

during the year

于年内递延税项借记至

损益表

Defered tax debited to

equity during the year

年内借记至权益

之递延税项

Exchange realignment汇兑调整

At 31 December 2022于二零二年

十二月三十一日

For presentation purposes, certain defered tax asets and

liabilities have ben ofset in the consolidated statement of

financial position. The folowing is an analysis of the defered

tax balances of the Group for financial reporting purposes:

二零二一年

HK$’000

千港元

Net defered tax liabilities recognised in the

consolidated statement of financial position

于综合财务状况表确认之

递延税项负债净额44,364

26 递延税项负债

年内，未计及相同税务司法权区内互相抵

销结余之情况下，递延税项资产变动如

下：

就呈列目的，若干递延税项资产及负债已

于综合财务状况表抵销。以下为本集团就

财务报告目的对递延税项结余作出之分

析：

2022
二零二二年
HK$’000
千港元
–
–
–
–
292,535
209,955
647,656
445,094
1,595,240

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

26 DEFERED TAX LIABILITIES (continued)

At the end of the reporting period, the Group had unrecognised

tax loses to be caried forward against future taxable income

amounted HK$1,595,979,000 (2021: HK$1,859,882,000). Included

in unrecognised tax loses are loses of HK$1,595,240,000

(2021: HK$1,859,144,000) that wil expire as folows. Other loses

may be caried forward indefinitely. As at 31 December 2022,

defered tax asets have not ben recognised in respect of

these loses as they have arisen in subsidiaries that have ben

los-making for some time and it is not considered probable

that taxable profits wil be available against which the tax loses

can be utilised.

二零二一年

HK$’000

千港元

2023二零二三年7,945

2024二零二四年1,633

2025二零二五年48

2026二零二六年5

2029二零二九年439,246

2030二零三零年417,282

2031二零三一年992,985

2032二零三二年–

1,859,144

Pursuant to the PRC Corporate Income Tax Law, a 10%

witholding tax is levied on dividends declared to foreign

investors from the foreign investment enterprises established

in Mainland China. The requirement is efective from 1 January

2008 and aplies to earnings after 31 December 2007. A lower

witholding tax rate may be aplied if there is a tax treaty

betwen Mainland China and the jurisdiction of the foreign

investors. At 31 December 2022, no unremited earnings that

are subject to witholding taxes of the Group’s subsidiaries

established in Mainland China. At 31 December 2021, no

defered tax has ben recognised for witholding taxes that

would be payable on the unremited earnings that are subject

to witholding taxes of the Group’s subsidiaries established

in Mainland China. In the opinion of the directors, it is not

probable that these subsidiaries wil distribute such earnings

in the foreseable future. The agregate amount of temporary

diferences asociated with investments in subsidiaries in

Mainland China for which defered tax liabilities have not ben

recognised totaled HK$2,560,000 at 31 December 2021.

26 递延税项负债（续）

于报告期末，本集团有未确认将结

转税项亏损可抵销未来应课税收入

为1,595,979,000港元（二零二一年：

1,859,882,000港元）。未确认税项亏损

包括1,595,240,000港元（二零二一年：

1,859,144,000港元）的亏损，将于下列年

份到期。其他亏损可以无限期结转。于二

零二年十二月三十一日，由于此等附属

公司已亏损一段时间且认为其应课税溢利

不足以抵销可动用之税项亏损，故并无就

此等亏损确认递延税项资产。

根据中国企业所得税法，于中国大陆成立

之外资企业向外国投资者宣派之股息须缴

纳10%之预扣税。有关规定于二零八

年一月一日起生效，且适用于二零七年

十二月三十一日后之盈利。倘中国大陆与

外国投资者所属司法权区订有税务条约，

则适用之预扣税率可能较低。于二零

二年十二月三十一日，本集团就设于中

国大陆之附属公司并无可汇出之盈利。于

二零二一年十二月三十一日，本集团就设

于中国大陆之附属公司应课税而未汇出盈

利之应付预扣税而言，并未确认任何递延

税项。董事认为，该等附属公司于可见将

来派发有关盈利之可能性并不大。于二零

二一年十二月三十一日，与于中国大陆附

属公司投资有关且并未确认递延税项负债

之暂时性差额合共为2,560,000港元。

2022
二零二二年
HK$’000
千港元
10,000,000
42,263

Number of shares	Issued	Share premium
in issue	capital	account	Total
已发行股份数目	已发行股本	股份溢价账	合计
’000	HK$’000	HK$’000	HK$’000
千股	千港元	千港元	千港元

4,226,252	42,263	14,283,793	14,326,056

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

27 股本

股份

本公司已发行股本变动概述如下：

附注：

于二零二一年六月二日，根据认购协议，本公司

按每股0.197港元将本公司之704,374,800股普通

股份配发及发行予一名独立第三方认购人。已

收总现金认购价（未计发股费用）138,762,000港

元。该交易令已发行股本及股份溢价账分别增加

7,044,000港元及131,718,000港元。151,000港元

之发股费用亦相应于股份溢价账扣除。

27 SHARE CAPITAL

二零二一年

HK$’000

千港元

Authorised:法定：

1,000,000,000,000 ordinary shares

of HK$0.01 each

1,000,000,000,000股每股面值

0.01港元之普通股10,000,000

Isued and fuly paid:已发行及缴足：

4,226,252,310 ordinary shares of

HK$0.01 each

4,226,252,310股

每股面值0.01港元之普通股42,263

A sumary of movements in the Company’s isued share capital

is as folows:

At 1 January 2021 于二零二一年一月一日3,521,87835,21914,152,22614,187,445

Isue of shares (Note)发行股份（附注）704,3747,044131,718138,762

Share isue expenses (Note)发股费用（附注）–(151)(151)

At 31 December 2021,

1 January 2022 and

31 December 2022

于二零二一年十二月三十一日、

二零二年一月一日及

二零二年十二月三十一日

Note:

On 2 June 2021, pursuant to a subscription agrement, the Company

aloted and isued 704,374,800 ordinary shares of the Company to a

subscriber, who is an independent third party, at HK$0.197 per share. The

agregate cash subscription price received, before share isue expenses, was

HK$138,762,000. This transaction resulted in an increase of the isued share

capital and share premium acount of HK$7,044,000 and HK$131,718,000,

respectively. Share isue expenses of HK$151,000 were charged to the share

premium acount acordingly.

Share premium	Capital redemption reserve	Contributed surplus (Note)	Exchange reserve	Other reserve	Asset revaluation reserve#	Fair value reserve of financial assets at fair value through other comprehensive income	Accumulated losses	Total
股份溢价	资本赎回储备	缴入盈余（附注）	汇兑储备	其他储备	资产重估储备#	按公平价值计入其他全面收益之财务资产之公平价值储备	累计亏损	总计
HK$’000	HK$’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	千港元
14,283,793	6,503	3,460,931	(224,981)	(522,452)	76,766	(301,058)	(8,011,430)	8,768,072
–	–	–	–	–	–	–	(216,911)	(216,911)
–	–	–	–	–	584	–	–	584
–	–	–	–	–	(79)	–	–	(79)
–	–	–	–	3,611	–	–	–	3,611
–	–	–	–	–	–	(4,091)	–	(4,091)
–	–	–	(476,849)	–	–	–	–	(476,849)
–	–	–	783	–	–	–	–	783
–	–	–	(476,066)	3,611	505	(4,091)	(216,911)	(692,952)
14,283,793*	6,503*	3,460,931*	(701,047)*	(518,841)*	77,271*	(305,149)*	(8,228,341)	8,075,120

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

28 RESERVES

At 1 January 2022于二零二年一月一日

Los for the year年度亏损

Other comprehensive

los for the year:

年度其他全面亏损：

Revaluation of property,

plant and equipment upon

transfer to investment

properties, net

于转拨至投资物业时

重估物业、厂房

及设备，净额

Defered tax debited to

aset revaluation reserve

于资产重估储备扣除

之递延税项

Remeasurement of employe

benefit obligation

重新计量雇员福利责任

Changes in fair value of equity

investments at fair value

through other comprehensive

income

按公平价值计入其他全面

收益之股权投资之

公平价值变动

Exchange diferences on

translation of

foreign operations

换算海外业务之汇兑差额

Release of exchange

reserve upon deregistration

of foreign subsidiaries

境外附属公司撤销

注册时解除汇兑储备

Total comprehensive

los for the year

年度全面亏损总额

At 31 December 2022于二零二年

十二月三十一日

28 储备

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

28 RESERVES (continued)

premium

Capital

redemption

reserve

Contributed

surplus

(Note)

Exchange

reserve

Other

reserve

Aset

revaluation

reserve

Fair value

reserve of

financial asets

at fair value

through other

comprehensive

income

Acumulated

losesTotal

股份溢价

资本

赎回储备

缴入盈余

（附注）汇兑储备其他储备

资产

重估储备

按公平价值

计入其他全面

收益之财务

资产之公平

价值储备累计亏损总计

HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’000HK$’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千港元

At 1 January 2021于二零二一年一月一日14,152,2266,5033,460,931482,197(522,966)78,813(288,595)(6,957,711)10,411,398

Los for the year年度亏损– –(1,055,766)(1,055,766)

Other comprehensive

los for the year:

年度其他全面亏损：

Remeasurement of employe

benefit obligation

重新计量雇员福利责任

– –514–514

Changes in fair value of equity

investments at fair value

through other comprehensive

income

按公平价值计入其他全面

收益之股权投资之

公平价值变动

– –(12,463)–(12,463)

Exchange diferences on

translation of

foreign operations

换算海外业务之汇兑差额

– –(707,178)–(707,178)

Total comprehensive

los for the year

年度全面亏损总额

– –(707,178)514–(12,463)(1,055,766)(1,774,893)

Release of revaluation

of investment properties

upon transfer to property,

plant and equipment

于转拨至物业、厂房及

设备时拨回投资物业

之重估

– –(950)–950–

Release of revaluation

of investment properties

upon writen-of

于撤销投资物业时

拨回该等物业之重估

– –(1,097)–1,097–

Isue of shares (Note 27)发行股份（附注27）131,718–131,718

Share isue expenses (Note 27)发股费用（附注27）(151)–(151)

At 31 December 2021于二零二一年

十二月三十一日14,283,7936,5033,460,931(224,981)(522,452)76,766(301,058)*(8,011,430)8,768,072

Note: Contributed surplus of the Group was arisen from the Company’s

capital reorganisation.

* These reserve acounts comprise the consolidated other reserves

of HK$16,303,461,000 (2021: HK$16,779,502,000) in the consolidated

statement of changes in equity.

# The aset revaluation reserve arose from a change in use from an

owner-ocupied property to an investment property caried at fair

value.

28 储备（续）

附注：本集团之缴入盈余乃自本公司资本重组而

产生。

* 该等储备账包括综合权益变动表之综合其

他储备16,303,461,000港元（二零二一年：

16,779,502,000港元）。

# 资产重估储备乃因自用物业之用途变更为

按公平价值列账之投资物业而产生。

Interest- bearing bank borrowing	Lease liabilities
计息银行借贷	租赁负债
HK$’000	HK$’000
千港元	千港元
2,114,515	3,327
(431,537)	(1,610)
1,411	–
–	84
–	81
–	(81)
(128,239)	(53)
1,556,150	1,748

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

29 NOTES TO THE CONSOLIDATED STATEMENT

OF CASH FLOWS

(a) Major non-cash transactions

(i) The Group had non-cash aditions to right-of-

use asets and lease liabilities of HK$84,000 (2021:

HK$2,627,000) and HK$84,000 (2021: HK$2,627,000),

respectively, in respect of lease arangements for a

leased motor vehicle and leased premises.

(b) Changes in liabilities arising from financing

activities

At 1 January 2022于二零二年一月一日

Changes from financing cash flows融资现金流量变动

Changes from operating cash flows营运现金流量变动

New lease新租赁

Interest expense利息开支

Interest paid clasified as

operating cash flows

分类为经营现金流量之

已付利息

Exchange realignment汇兑调整

At 31 December 2022于二零二年

十二月三十一日

29 综合现金流量表附注

(a) 重大非现金交易

(i) 本集团就汽车租赁及楼宇租赁

安排而分别拥有非现金添置至

使用权资产及租赁负债84,000

港元（二零二一年：2,627,000

港元）及84,000港元（二零二一

年：2,627,000港元）。

(b) 融资活动产生的负债变化

二零二年

2022
二零二二年
HK$’000
千港元
4,183
1,610
5,793

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

29 NOTES TO THE CONSOLIDATED STATEMENT

OF CASH FLOWS (continued)

(b) Changes in liabilities arising from financing

activities (continued)

Interest-

bearing bank

borowing

Lease

liabilities

计息银行借贷租赁负债

HK$’000HK$’000

千港元千港元

At 1 January 2021于二零二一年一月一日2,536,4988,475

Changes from financing cash flows融资现金流量变动(251,221)(7,649)

Changes from operating cash flows营运现金流量变动23,766–

New lease新租赁–2,627

Interest expense利息开支–330

Interest paid clasified as

operating cash flows

分类为经营现金流量之

已付利息–(330)

Exchange realignment汇兑调整(194,528)(126)

At 31 December 2021于二零二一年

十二月三十一日2,114,5153,327

The total cash outflow for leases included in the

consolidated statement of cash flows is as folows:

二零二一年

HK$’000

千港元

Within operating activities经营业务内6,408

Within financing activities融资活动内7,649

14,057

29 综合现金流量表附注（续）

(b) 融资活动产生的负债变化（续）

二零二一年

综合现金流量表中包括的租赁现金

流出总额如下：

2022
二零二二年
HK$’000
千港元
259
39,016
39,275

2022
二零二二年
HK$’000
千港元
7,820

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

30 COMITMENTS

The Group had the folowing capital comitments at the end of

the reporting period:

二零二一年

HK$’000

千港元

Contracted, but not provided for:已订约但未拨备：

Property, plant and equipment 物业、厂房及设备1,895

Properties under development 发展中物业–

1,895

31 RELATED PARTY TRANSACTIONS

Compensation of key management personel of the Group,

including directors’ remuneration as detailed in 9 to the

consolidated financial statements, is as folows:

二零二一年

HK$’000

千港元

Short-term benefits (Note)短期福利（附注）21,363

Note:

The amounts represented remuneration of directors of the Company during

the year, which was determined by the Remuneration Comite having

regard to the performance of individuals and market trends.

30 承担

本集团于报告期末有下列资本承担：

31 关联方交易

本集团主要管理人员薪酬（包括详情载于

综合财务报表附注9的董事酬金）如下：

附注：

有关金额指本公司董事于年内之薪酬，乃由薪酬

委员会视乎个人表现及市场趋势而厘定。

Financial assets at fair value through other comprehensive income
按公平价值计入其他全面收益之财务资产
Equity investments	Financial assets at amortised cost	Total
股权投资	按摊销成本列账之财务资产	总计
HK$’000	HK$’000	HK$’000
千港元	千港元	千港元
13,866	–	13,866
–	211,746	211,746
–	62,793	62,793
–	503,421	503,421
13,866	777,960	791,826

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

32 FINANCIAL INSTRUMENTS BY CATEGORY

The carying amounts of each of the categories of financial

instruments as at the end of the reporting period are as folows:

Financial asets

Equity investments at

fair value through other

comprehensive income

按公平价值计入其他全面

收益之股权投资

Financial asets included in

prepayments, trade and

other receivables

计入预付款项、应收贸易

款项及其他应收款项之

财务资产

Restricted cash受限制现金

Cash and cash equivalents现金及现金等价物

32 按类别划分之财务工具

各财务工具类别于报告期末之账面值如

下：

财务资产

二零二年

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

32 FINANCIAL INSTRUMENTS BY CATEGORY

(continued)

Financial asets (continued)

Financial asets

at fair value

through other

comprehensive

income

按公平价值计入

其他全面收益之

财务资产

Equity

investments

Financial asets

at amortised costTotal

股权投资

按摊销成本列账之

财务资产总计

HK$’000HK$’000HK$’000

千港元千港元千港元

Equity investments at

fair value through other

comprehensive income

按公平价值计入其他全面

收益之股权投资

17,957–17,957

Financial asets included in

prepayments, trade and

other receivables

计入预付款项、应收贸易

款项及其他应收款项之

财务资产–165,248165,248

Restricted cash受限制现金–66,55666,556

Cash and cash equivalents现金及现金等价物–820,917820,917

17,9571,052,7211,070,678

32 按类别划分之财务工具（续）

财务资产（续）

二零二一年

2022
二零二二年
HK$’000
千港元
248,106
1,556,150
1,748
1,806,004

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

32 FINANCIAL INSTRUMENTS BY CATEGORY

(continued)

Financial liabilities

Financial liabilities at

amortised cost

按摊销成本计量之财务负债

二零二一年

HK$’000

千港元

Financial liabilities included in trade

and other payables

计入应付贸易款项及

其他应付款项之财务负债304,917

Interest-bearing bank borowing计息银行借贷2,114,515

Leases liabilities租赁负债3,327

2,422,759

33 FAIR VALUE AND FAIR VALUE HIERARCHY

OF FINANCIAL INSTRUMENTS

Management has asesed that the fair values of cash and cash

equivalents, restricted cash, the curent portion of trade and

other receivables excluding non-financial asets, the curent

portion of trade and other payables excluding non-financial

liabilities and the curent portion of interest-bearing bank

borowing aproximate to their carying amounts largely due to

the short term maturities of these instruments.

The Group’s finance department headed by the Financial

Controler is responsible for determining the policies and

procedures for the fair value measurement of financial

instruments. The Financial Controler reports directly to the

directors and the Audit Comite. At each reporting date, the

finance department analyses the movements in the values of

financial instruments and determines the major inputs aplied

in the valuation. The valuation is reviewed and aproved by the

directors. The valuation proces and results are discused with

the Audit Comite for financial reporting.

The fair values of the financial asets and liabilities are included

at the amount at which the instrument could be exchanged in

a curent transaction betwen wiling parties, other than in a

forced or liquidation sale.

32 按类别划分之财务工具（续）

财务负债

33 财务工具之公平价值及公平价值

等级

管理层已评估现金及现金等价物、受限制

现金、应收贸易款项及其他应收款项之即

期部分（不包括非财务资产）、应付贸易款

项及其他应付款项之即期部分（不包括非

财务负债）以及计息银行借贷之即期部分

之公平价值，其数额与其账面值相若，主

要由于该等工具将于短期内到期。

本集团由财务总监带领之财务部门负责厘

定财务工具公平价值计量之政策及程序。

财务总监直接向董事及审核委员会汇报。

于各报告日期，财务部门分析财务工具价

值变动，并厘定估值中应用之主要输入数

据。估值由董事审阅及批准。估值程序及

结果会与审核委员会讨论，以作出财务报

告。

财务资产及负债之公平价值以该工具于自

愿交易方（而非强迫或清盘销售）当前交易

下之可交易金额入账。

Fair value measurement using
运用以下输入数据之公平价值计量
Quoted
prices in active	Significant observable	Significant unobservable
markets (Level 1)	inputs (Level 2)	inputs (Level 3)	Total
于活跃市场	重大可观察	重大不可观察
之报价	输入数据	输入数据
（第一级）	（第二级）	（第三级）	总计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元
13,866	–	–	13,866

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

33 FAIR VALUE AND FAIR VALUE HIERARCHY

OF FINANCIAL INSTRUMENTS (continued)

The folowing methods and asumptions were used to estimate

the fair values:

The fair values of the non-curent portion of trade and other

receivables excluding non-financial asets, the non-curent

portion of trade and other payables excluding non-financial

liabilities and the non-curent portion of interest-bearing bank

borowing have ben calculated by discounting the expected

future cash flows using rates curently available for instruments

with similar terms, credit risk and remaining maturities. The

changes in fair value as a result of the Group’s own non-

performance risk for trade and other receivables excluding

non-financial asets, trade and other payables excluding non-

financial liabilities and interest-bearing bank borowing as at 31

December 2022 were asesed to be insignificant. Management

has asesed that the fair value of the non-curent portion of

trade and other receivables excluding non-financial asets,

the non-curent portion of trade and other payables excluding

non-financial liabilities and the non-curent portion of interest-

bearing bank borowing aproximate to their carying amount.

The fair values of listed equity investments are based on quoted

market prices.

The folowing table presents the Group’s financial asets and

liabilities that are at fair value at 31 December 2022 and 2021.

At 31 December 2022于二零二年

十二月三十一日

Financial asets财务资产

Equity investments at fair value

through other

comprehensive income

按公平价值计入

其他全面收益之

股权投资

33 财务工具之公平价值及公平价值

等级（续）

于估量公平价值时运用以下方法及假设：

应收贸易款项及其他应收款项之非即期部

分（不包括非财务资产）、应付贸易款项及

其他应付款项之非即期部分（不包括非财

务负债）以及计息银行借贷之非即期部分

之公平价值乃采用具有类似条款、信贷风

险及剩余期限之工具之现有费率，贴现预

期未来现金流量计算得出。本集团于二零

二年十二月三十一日有关应收贸易款项

及其他应收款项（不包括非财务资产）、

应付贸易款项及其他应付款项（不包括非

财务负债）以及计息银行借贷之本身不履

约风险导致的公平价值变动被评定为不重

大。管理层已评估应收贸易款项及其他

应收款项之非即期部分（不包括非财务资

产）、应付贸易款项及其他应付款项之非

即期部分（不包括非财务负债）以及计息银

行借贷之非即期部分之公平价值，其数额

与其账面值相若。

上市股权投资之公平价值乃按市场报价计

算。

下表呈列本集团于二零二年及二零二一

年十二月三十一日按公平价值计量之财务

资产及负债。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

33 FAIR VALUE AND FAIR VALUE HIERARCHY

OF FINANCIAL INSTRUMENTS (continued)

Fair value measurement using

运用以下输入数据之公平价值计量

Quoted

prices in

active

Significant

observable

Significant

unobservable

markets

(Level 1)

inputs

(Level 2)

inputs

(Level 3)Total

于活跃市场重大可观察重大不可观察

之报价输入数据输入数据

（第一级）（第二级）（第三级）总计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

At 31 December 2021于二零二一年

十二月三十一日

Financial asets财务资产

Equity investments at fair value

through other

comprehensive income

按公平价值计入

其他全面收益之

股权投资17,957–17,957

The Group did not have any financial liabilities measured at fair

value as at 31 December 2022 and 2021.

During the year, there were no transfers of fair value

measurements betwen Level 1 and Level 2 and no transfers

into or out of Level 3 for both financial asets and financial

liabilities (2021: Nil).

33 财务工具之公平价值及公平价值

等级（续）

于二零二年及二零二一年十二月三十一

日，本集团并无任何按公平价值计量之财

务负债。

于年内，财务资产及财务负债概无于第一

级与第二级间转拨公平价值计量，亦无将

财务资产及财务负债转入或转出第三级

（二零二一年：无）。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

34 FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES

The main risks arising from the Group’s financial instruments

are market risk (including foreign exchange risk, interest rate

risk and equity price risk), credit risk and liquidity risk. The

Group’s overal risk management programe focuses on the

unpredictability of financial markets and seks to minimise

potential adverse efects on the Group’s financial performance.

Risk management is caried out by a central finance department

(the “Finance Department”) headed by the Financial Controler

of the Group. The Finance Department identifies and evaluates

financial risks in close co-operation with the Group’s operating

units to cope with overal risk management as wel as specific

areas such as market risk, credit risk and liquidity risk.

(a) Market risk

(i) Foreign exchange risk

The Group’s foreign curency transactions are

mainly denominated in HK$ and KRW. The majority

of asets and liabilities are denominated in HK$

and KRW, and there are no significant asets and

liabilities denominated in other curencies. The

Group is subject to foreign exchange rate risk arising

from future comercial transactions and recognised

asets and liabilities which are denominated in

a curency other than HK$ and KRW, which are

the functional curencies of the major operating

companies within the Group. The Group curently

does not hedge its foreign curency exposure.

At 31 December 2022, if KRW had weakened by

5% against HK$ with al other variables held constant,

the Group’s other components of equity would have

ben lower by aproximately HK$400,196,000 (2021:

HK$408,205,000), as a result of the foreign exchange

diference on translation of KRW denominated

asets and liabilities.

34 财务风险管理目标及政策

来自本集团财务工具的主要风险为市场风

险（包括外汇风险、利率风险及股权价格

风险）、信贷风险及流动资金风险。本集

团整体风险管理政策是集中于金融市场之

不可预测性，并寻求尽量降低对本集团财

务表现带来之潜在不利影响。

风险管理由本集团财务总监领导之中央财

务部门（「财务部」）进行。财务部与本集

团之经营单位紧密合作，以识别及评估财

务风险，以处理整体风险管理及特定范畴

（例如：市场风险、信贷风险及流动资金

风险）。

(a) 市场风险

(i) 外汇风险

本集团之外币交易主要以港元

及韩圜计值。大部分资产及负

债以港元及韩圜计值，概无

以其他货币计值之重大资产及

负债。本集团承受未来商业交

易以及以港元及韩圜（即本集

团旗下主要经营公司之功能货

币）以外货币计值之已确认资

产及负债所产生之外汇风险。

本集团目前并无对冲其外汇风

险。

于二零二年十二月三十一

日，倘韩圜兑港元贬值5%，

而所有其他变数维持不变，则

本集团其他权益部分将减少

约400,196,000港元（二零二一

年：408,205,000港元），此乃

由于换算以韩圜计值之资产及

负债产生汇兑差额。

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

34 FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES (continued)

(a) Market risk (continued)

(i) Interest rate risk

The Group’s income and operating cash flows are

substantialy independent of changes in market

interest rates as the Group has no significant

interest-bearing asets except for bank deposits,

which earn low interest rate. The Group’s interest

rate risk arises mainly from borowing. Borowing

obtained at fixed rate exposes the Group to fair

value interest rate risk.

(i) Equity price risk

The Group is exposed to equity securities price

risk because of investments held by the Group are

clasified on the consolidated statement of financial

position at financial asets at fair value through other

comprehensive income. The Group is not exposed

to comodity price risk. To manage its price risk

arising from investments in equity securities, the

Group diversifies its portfolio. Diversification of the

portfolio is done in acordance with the limits set by

the Group.

As at 31 December 2022, for the listed equity

investments included in financial asets at fair

value through other comprehensive income, the

impact is demed to be on the fair value reserve

(non- recycling). If the price of the listed equity

investments increased/decreased by 5% (2021:

5%), with al other variables held constant, the

Group’s other components of equity wil increased/

decreased by HK$693,000 (2021: HK$898,000)

mainly as a result of the fair value change of these

investments.

34 财务风险管理目标及政策（续）

(a) 市场风险（续）

(i) 利率风险

本集团之收入及经营现金流量

大致上不受市场利率变动影

响，原因为本集团并无重大计

息资产，惟赚取低息之银行存

款除外。本集团之利率风险主

要来自借贷。定息借贷令本集

团承受公平价值利率风险。

(i) 股权价格风险

由于本集团所持投资于综合财

务状况表分类为按公平价值计

入其他全面收益之财务资产，

故本集团承受股权证券价格风

险。本集团并无承受商品价格

风险。为管理其投资于股权证

券所产生之价格风险，本集团

根据其设定限制分散其投资组

合。

于二零二年十二月三十一

日，上市股权投资计入按公平

价值计入其他全面收益之财务

资产，其影响被视为于公平价

值储备（即非经常性）。倘上

市股权投资之价格上升╱下

降5%（二零二一年：5%）而所

有其他变数维持不变，则本集

团其他权益部分将增加╱减少

为693,000港元（二零二一年：

898,000港元），主要由于该等

投资之公平价值出现变动。

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

34 FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES (continued)

(b) Credit risk

The Group’s credit risk is primarily atributable to equity

investments designated at fair value through other

comprehensive income, financial asets included in

prepayments, trade and other receivables, cash and cash

equivalents and restricted cash. Credit risk is managed

on a group basis, except for credit risk relating to trade

receivables and receivables from gaming customers.

The Group has policies and guidelines in place to ases

the credit worthines of customers from the Gaming

Busines to ensure that credits are made to parties

with an apropriate credit history and a god history

of performance records. As at 31 December 2022, the

gaming receivables representing 0.1% (2021: 0.1%) of the

Group’s total financial asets included in prepayments,

trade and other receivables. The Group monitors the

isuance of credit on an ongoing basis to minimise

the exposure to credit risk. The activities of individual

credit acount are monitored regularly for management

to decide if the credit facility should be continued,

changed or canceled. Management regularly evaluates

the alowance for doubtful receivables by reviewing the

colectability of each balance based upon the age of the

balance, the customer’s financial condition, colection

history and any other known information.

The Group trades only with recognised and creditworthy

third parties. It is the Group’s policy that al customers

who wish to trade on credit terms are subject to credit

verification procedures. In adition, trade and other

receivable balances are monitored on an ongoing basis

and the Group’s exposure to bad debts is not significant.

34 财务风险管理目标及政策（续）

(b) 信贷风险

本集团信贷风险主要源自指定为按

公平价值计入其他全面收益之股权

投资、计入预付款项、应收贸易款

项及其他应收款项之财务资产、现

金及现金等价物及受限制现金。信

贷风险按集团层面管理，惟有关应

收贸易款项及应收博彩客户款项之

信贷风险除外。

本集团亦订有政策及指引，以评估

博彩业务客户之信誉，确保向拥有

适当信贷记录及良好往绩记录之客

户提供信贷。于二零二年十二月

三十一日，应收博彩款项相当于本

集团之财务资产总值之0.1%（二零

二一年：0.1%），乃计入预付款项、

应收贸易款项及其他应收款项。本

集团持续监察授出信贷，务求尽量

减低信贷风险。个人信贷账户活动

获定期监察，以供管理层决定应

否继续、改变或取消信贷额度。管

理层根据结余账龄、客户之财务状

况、收款记录及任何其他已知资料

以检讨各项结余之可收回程度，从

而定期评估应收呆账拨备。

本集团仅与认可及信誉卓著之第三

方进行买卖。本集团之政策为所有

有意以信贷期进行买卖之客户，均

须接受信贷审核程序。此外，应收

贸易款项及其他应收款项结余持续

受监管，而本集团面临之坏账风险

并不重大。

12-month
ECLs	Lifetime ECLs
12个月预期信贷亏损	全期预期信贷亏损
Stage 1	Stage 2	Stage 3	Simplified approach	Total
第一阶段	第二阶段	第三阶段	简化方法	总计
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
–	–	–	24,392	24,392
–	–	–	314,504	314,504
184,243	–	–	–	184,243
–	9,480	–	–	9,480
62,793	–	–	–	62,793
503,421	–	–	–	503,421
750,457	9,480	–	338,896	1,098,833

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

34 FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES (continued)

(b) Credit risk (continued)

Maximum exposure and year-end staging

The tables below show the credit quality and the

maximum exposure to credit risk based on the Group’s

credit policy, which is mainly based on past due

information unles other information is available without

undue cost or efort, and year end staging clasification

as at 31 December. The amounts presented are gros

carying amounts for financial asets.

As at 31 December 2022

Trade receivables应收贸易款项

Gaming receivables应收博彩款项

Financial asets included in

prepayments, deposits and

other receivables

计入预付款项、

按金及其他应收

款项之财务资产

— Normal —正常

— Doubtful —呆账

Restricted cash

— Not yet past due

受限制现金

—尚未逾期

Cash and cash equivalents

— Not yet past due

现金及现金等价物

—尚未逾期

34 财务风险管理目标及政策（续）

(b) 信贷风险（续）

最高风险及于年结日所处阶段

下表呈示基于本集团信贷政策之信

贷质素及最高信贷风险，主要以逾

期资料为基准（除非可在不耗费过

多成本或努力之情况下取得其他资

料），及于十二月三十一日年结日所

处阶段。所呈列金额为财务资产之

账面总值。

于二零二年十二月三十一日

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

34 FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES (continued)

(b) Credit risk (continued)

Maximum exposure and year-end staging (continued)

As at 31 December 2021

12-month

ECLsLifetime ECLs

12个月预期

信贷亏损全期预期信贷亏损

Stage 1Stage 2Stage 3

Simplified

aproachTotal

第一阶段第二阶段第三阶段简化方法总计

HK$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元

Trade receivables应收贸易款项–23,73723,737

Gaming receivables应收博彩款项–336,484336,484

Financial asets included in

prepayments, deposits and

other receivables

计入预付款项、

按金及其他应收

款项之财务资产

— Normal —正常141,780–141,780

— Doubtful —呆账–78,520–78,520

Restricted cash

— Not yet past due

受限制现金

—尚未逾期66,556–66,556

Cash and cash equivalents

— Not yet past due

现金及现金等价物

—尚未逾期820,917–820,917

1,029,25378,520–360,2211,467,994

* For trade and gaming receivables to which the Group aplies

the simplified aproach for impairment, information based on

the provision matrix is disclosed in note 19 to the consolidated

financial statements.

The credit quality of the financial asets included in

prepayments, deposits and other receivables is considered

to be “normal” when they are not past due and there is no

information indicating that the financial asets had a significant

increase in credit risk since initial recognition. Otherwise,

the credit quality of the financial asets is considered to be

“doubtful”.

Further quantitative data in respect of the Group’s

exposure to credit risk arising from trade receivables

and gaming receivables are disclosed in note 19 to the

consolidated financial statements.

Cash flow forecasting is performed in the operating

entities of the Group and agregated by the Finance

Department. The Finance Department monitors roling

forecasts of the Group’s liquidity requirements to

ensure it has suficient cash to met operational neds

while maintaining suficient headrom on its undrawn

comited borowing facilities at al times.

34 财务风险管理目标及政策（续）

(b) 信贷风险（续）

最高风险及于年结日所处阶段（续）

于二零二一年十二月三十一日

* 就本集团采用简化减值方法的应收

贸易及应收博彩款项而言，基于拨

备矩阵的资料于综合财务报表附注

19披露。

倘计入预付款项、按金及其他应收

款项之财务资产未逾期及并无资料

显示财务资产自初步确认后信贷风

险大幅增加，会视其信贷质素为「正

常」，否则会视财务资产之信贷质素

为「呆账」。

有关本集团所承担应收贸易款项及

应收博彩款项产生的信贷风险的进

一步量化数据于综合财务报表附注

19披露。

现金流量预测乃于本集团各经营实

体进行，并由财务部汇总而成。财

务部监控本集团流动资金需求之滚

存预测，确保其拥有足够之现金以

满足经营业务需要，并维持其未提

取但已承诺之借贷额度随时有充足

余额。

Less than 1 year	More than 1 year but less than 2 years	More than 2 years but less than 5 years	Over 5 years	Total
少于一年	超过一年但少于两年	超过两年但少于五年	超过五年	总计
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
236,338	3,560	7,259	949	248,106
1,026	730	47	–	1,803
161,407	125,463	1,600,955	–	1,887,825
398,771	129,753	1,608,261	949	2,137,734

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

34 FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES (continued)

At the reporting date, the Group held cash and cash

equivalents of HK$503,421,000 (2021: HK$820,917,000)

(Note 23) and trade and other receivables, net, of

HK$40,370,000 (2021: HK$32,468,000) (Note 19) that are

expected to readily generate cash inflows for managing

liquidity risk.

The Group’s objective is to maintain a balance betwen

continuity of funding and flexibility through the use

of an interest-bearing bank borowing. 2.1% of the

Group’s debts would mature in les than one year as at

31 December 2022 (2021: 100%) based on the carying

value of borowings reflected in the consolidated financial

statements.

The maturity profile of the Group’s financial liabilities as at

the end of the reporting period, based on the contractual

undiscounted payments, is as folows:

At 31 December 2022于二零二年

十二月三十一日

Trade and other

payables

应付贸易款项及

其他应付款项

Lease liabilities租赁负债

Interest-bearing bank

borowing

计息银行

借贷

34 财务风险管理目标及政策（续）

于报告日期，本集团持有现金及现

金等价物为503,421,000港元（二零

二一年：820,917,000港元）（附注

23）以及应收贸易款项及其他应收款

项净额为40,370,000港元（二零二一

年：32,468,000港元）（附注19），预

期可就管理流动资金风险即时产生

现金流入。

本集团的目标为透过使用计息银行

借贷维持资金持续性及灵活性之

间的平衡。于二零二年十二月

三十一日，2.1%的本集团债务将于

一年内到期（二零二一年：100%），

乃根据于综合财务报表内反映的借

贷账面值。

本集团财务负债于报告期末根据合

约未贴现付款的到期状况如下：

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

34 FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES (continued)

Les than

1 year

More than

1 year but

les than

2 years

More than

2 years but

les than

5 yearsTotal

少于一年

超过一年

但少于两年

超过两年

但少于五年总计

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

At 31 December 2021于二零二一年

十二月三十一日

Trade and other payables应付贸易款项及

其他应付款项296,4682,4995,950304,917

Lease liabilities租赁负债1,7451,0017053,451

Interest-bearing bank

borowing

计息银行

借贷2,177,808–2,177,808

2,476,0213,5006,6552,486,176

Capital management

The primary objectives of the Group’s capital management are

to safeguard the Group’s ability to continue as a going concern

and to maintain optional capital ratios in order to suport its

busines, maximise shareholders’ value, provide benefits for

other stakeholders and reduce the cost of capital.

In order to maintain or adjust the capital structure, the Group

may adjust the amount of dividends paid to shareholders,

return capital to shareholders, isue new shares or sel asets to

reduce debt. No changes were made in the objectives, policies

or proceses for managing capital during the years ended 31

December 2022 and 31 December 2021.

34 财务风险管理目标及政策（续）

资本管理

本集团资本管理之主要目标为保障本集团

持续经营之能力并维持可选资本比率，以

支持其业务、实现股东价值最大化、为其

他利益相关者提供利益及减低资金成本。

为保持或调整资本架构，本集团或会调整

向股东派付之股息金额、向股东发还资

本、发行新股份或出售资产以减低债务。

于截至二零二年十二月三十一日及二零

二一年十二月三十一日止年度，管理资本

的目标、政策或过程并无变动。

2022
二零二二年
HK$’000
千港元
1,556,150
(566,214)
989,936
8,117,383
9,107,319
10.9%

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

34 FINANCIAL RISK MANAGEMENT OBJECTIVES

AND POLICIES (continued)

Capital management (continued)

The Group monitors capital using a gearing ratio, which is

net debt divided by total capital plus net debt. Net debt is

calculated as an interest-bearing bank borowing les cash and

cash equivalents and restricted cash. Total capital is calculated

as equity atributable to owners of the parent. The gearing

ratios as at 31 December 2022 and 2021 were as folows:

二零二一年

HK$’000

千港元

Interest-bearing bank borowing

(Note 25)

计息银行借贷

（附注25）2,114,515

Les: cash and cash equivalents

and restricted cash (Note 23)

减：现金及现金等价物及

受限制现金（附注23）(887,473)

Net debt债务净额1,227,042

Total equity总权益8,810,335

Capital and net debt资本及债务净额10,037,377

Gearing ratio负债比率12.2%

As at 31 December 2022, the gearing ratio is 10.9% (2021:

12.2%).

34 财务风险管理目标及政策（续）

资本管理（续）

本集团使用负债比率监察资本，该比率按

债务净额除以总资本及债务净额之总和计

算。债务净额按一计息银行借贷减现金及

现金等价物及受限制现金计算。总资本按

母公司拥有人应占权益计算。于二零二

年及二零二一年十二月三十一日之负债比

率如下：

于二零二年十二月三十一日，负债比率

为10.9%（二零二一年：12.2%）。

2022
二零二二年
HK$’000
千港元
2,156,239
697
7,091,709
12,079
9,260,724
1,231,870
4,803
86,806
1,323,479
2,374
167,171
169,545
1,153,934
10,414,658
42,263
10,372,395
10,414,658

Anual Report 2022 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

35 STATEMENT OF FINANCIAL POSITION OF

THE COMPANY

Information about the statement of financial position of the

Company at the end of the reporting date is as folows:

二零二一年

HK$’000

千港元

NON-CURENT ASETS非流动资产

Investments in subsidiaries于附属公司之投资2,462,964

Property, plant and equipment物业、厂房及设备1,060

Amount due from a subsidiary应收一间附属公司款项7,628,364

Equity investments designated at fair value

through other comprehensive income

指定为按公平价值计入

其他全面收益之股权投资16,317

Total non-curent asets非流动资产总值10,108,705

CURENT ASETS流动资产

Amounts due from subsidiaries应收附属公司款项1,011,443

Prepayments and other receivables预付款项及其他应收款项8,660

Cash and cash equivalents现金及现金等价物201,629

Total curent asets流动资产总值1,221,732

CURENT LIABILITIES流动负债

Other payables其他应付款项81,868

Amounts due to subsidiaries应付附属公司款项276,768

Total curent liabilities流动负债总值358,636

NET CURENT ASETS流动资产净值863,096

Net asets资产净值10,971,801

EQUITY权益

Share capital股本42,263

Reserves (Note)储备（附注）10,929,538

Total equity总权益10,971,801

Chan Me SzeWong Hoi Po

陈美思王海波

Acting Chairperson and Executive DirectorExecutive Director

署理主席兼执行董事执行董事

35 本公司财务状况表

于报告日期末，有关本公司财务状况表之

资料如下：

Share premium	Capital redemption reserve	Contributed surplus	Other reserve	Fair value reserve of financial assets at fair value through other comprehensive income	Accumulated losses	Total
股份溢价	资本赎回储备	缴入盈余	其他储备	按公平价值计入其他全面收益之财务资产之公平价值储备	累计亏损	总计
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

–	–	–	–	–	(552,905)	(552,905)
–	–	–	–	(4,238)	–	(4,238)
–	–	–	–	(4,238)	(552,905)	(557,143)
14,283,793	6,503	3,460,931	193,993	(305,786)	(7,267,039)	10,372,395

SHIN HWA WORLD LIMITED 神话世界有限公司

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

35 STATEMENT OF FINANCIAL POSITION OF

THE COMPANY (continued)

Note:

A sumary of the Company’s reserves is as folows:

At 1 January 2021于二零二一年一月一日14,152,2266,5033,460,931193,993(289,045)(5,496,751)12,027,857

Los for the year年度亏损–(1,217,383)(1,217,383)

Changes in fair value of equity investments

at fair value through

other comprehensive income

按公平价值计入其他全面

收益之股权投资之

公平价值变动–(12,503)–(12,503)

Total comprehensive los for the year年度全面亏损总额–(12,503)(1,217,383)(1,229,886)

Isue of shares (Note 27)发行股份（附注27）131,718–131,718

Share isue expenses (Note 27)发股费用（附注27）(151)–(151)

At 31 December 2021 and 1 January 2022于二零二一年十二月三十一日及

二零二年一月一日14,283,7936,5033,460,931193,993(301,548)(6,714,134)10,929,538

Los for the year年度亏损

Changes in fair value of equity investments

at fair value through

other comprehensive income

按公平价值计入其他全面

收益之股权投资之

公平价值变动

Total comprehensive los for the year年度全面亏损总额

At 31 December 2022于二零二年十二月三十一日

36 APROVAL OF THE FINANCIAL STATEMENTS

The financial statements were aproved and authorised for

isue by the board of directors on 30 March 2023.

35 本公司财务状况表（续）

附注：

本公司储备概要如下：

36 批准财务报表

财务报表于二零二三年三月三十日经董事

会批准及授权刊发。

Anual Report 2022 年报

MAJOR PROPERTIES HELD BY THE GROUP

本集团持有之主要物业

INVESTMENT PROPERTIES

LocationUseTenure

Atributable

interest of

the Group

位置用途租期本集团应占权益

Units at Jeju Shinhwa World, Andeok-myeon,

Seoguipo City, Jeju Special, Self-Governing

Province, South Korea

Shops/comercialFrehold100%

南韩济州特别自治道西归浦市Andeok-myeon

济州神话世界多个单位

店舖╱商业永久业权

Flat A, 38th & 39th Flors, Tower 1,

Larvoto, No.8, Ap Lei Chau Praya Road,

Hong Kong

ResidentialMedium term lease100%

香港鸭脷洲海旁道8号南湾1座38及39楼A室住宅中期租约

COMPLETED PROPERTIES HELD FOR SALE

LocationTotal GFAUsage

Atributable

interest of

the Group

位置总建筑面积用途本集团应占权益

(‘000 sq.m.)

（千平方米）

Seogwang-ril in Andeog-myeon, Seoguipo City,

Jeju Special, Self-Governing Province,

South Korea

22Residential100%

南韩济州特别自治道西归浦市住宅

Andeog-myeon Seogwang-ril

投资物业

待售已落成物业

2022
二零二二年
HK$’000
千港元
1,386,800
(216,911)
(216,911)

2022
二零二二年
HK$’000
千港元
10,056,022
(1,938,639)
8,117,383

SHIN HWA WORLD LIMITED 神话世界有限公司

FINANCIAL SUMARY

财务概要

A sumary of the results, asets and liabilities of the Group for the

five years ended 31 December 2018, 2019, 2020, 2021 and 2022,

as extracted from the published audited consolidated financial

statements, is set out below.

Year ended 31 December

截至十二月三十一日止年度

二零二一年二零二零年二零一九年二零一八年

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

RESULTS业绩

Revenue收益1,349,996788,011815,5332,099,025

Los for the year年度亏损(1,055,766)(2,115,001)(2,132,855)(701,527)

Atributable to:应占：

Owners of the parent 母公司拥有人(1,055,766)(2,115,001)(2,132,855)(701,527)

At 31 December

于十二月三十一日

二零二一年二零二零年二零一九年二零一八年

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

ASETS AND LIABILITIES资产及负债

Total asets资产总值11,509,97213,548,54215,119,84017,671,019

Total liabilities负债总值(2,699,637)(3,101,925)(3,235,073)(3,068,758)

Net asets资产净值8,810,33510,446,61711,884,76714,602,261

以下为本集团截至二零一八年、二零一九年、

二零二零年、二零二一年及二零二年十二月

三十一日止五个年度之业绩、资产及负债摘

要，乃节录自已刊发经审核综合财务报表。

2022
二零二二年
1,418
25
1,295
98
558
448
282
104
26
849
569
463
955
1,213
205

2022
二零二二年
32.58%
1.79%
21.21%
75.53%
117.31%
84.62%
21.52%
98.05%
39.92%
65.41%
21.88%
25.18%
23.08%
30.77%
26.79%
117.56%
21
0.62
363
0
34,812
100%

2022
二零二二年
1,283
759
524
283
1,000
90%
89.40%
92.09%
61.12%
104.71%
19,408.0
10,439.5
8,968.5
7,354.0
12,054.0
13.7
12.3
15.8
15.9
12.6
682
675
2
0
1
2
1
1

2022
二零二二年
23.9%
1.9

CONTENTS

目录

CORPORATE INFORMATION

公司资料

BIOGRAPHICAL DETAILS OF DIRECTORS

董事简历

2020. Mr. Shek graduated from the University of Sydney and holds

LETER FROM THE BOARD

董事会函件

CORPORATE GOVERNANCE REPORT

企业管治报告

ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT

环境、社会及管治报告

Compliance is ensured by way of the folowing:

DIRECTORS’ REPORT

董事会报告

Notes:

Note: 1,481,567,297 ordinary shares of the Company are held by Landing

Notes:

1. LIL, whose entire isued share capital is held by Dr. Yang, is interested in

2. Wealth Milenium, whose entire isued share capital is held by Ms. Lam,

3. Tinmark, through its owned subsidiaries, holds 138,283,200 shares of the

4. Tinmark, is a controled corporation wholy owned by Mr. Yao, which is

2. Wealth Milenium全部已发行股本由林女士持

3. Tinmark透过其拥有附属公司持有138,283,200

4. Tinmark为姚先生全资拥有之所控制公司，于

INDEPENDENT AUDITOR’S REPORT

独立核数师报告

Busines included:

Busines included:

CONSOLIDATED STATEMENT OF PROFIT OR LOS

综合损益表

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

综合全面收益表

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

综合财务状况表

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

综合权益变动表

CONSOLIDATED STATEMENT OF CASH FLOWS

综合现金流量表

Adjustments for:调整：

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

Note i: These entity is registered as a wholy-foreign-owned enterprise

Note i: The registered capital of Chi Shun amounted to RMB400,000,000,

Segment revenue: (Note 5)分部收益：（附注5）

Reconciliation:对账：

Reconciliation:对账：

Reconciliation:对账：

Segment revenue: (Note 5)分部收益：（附注5）

Reconciliation:对账：

Reconciliation:对账：

Reconciliation:对账：

An analysis of revenue is as folows:

Details of contract liabilities are as folows:

Amortisation and depreciation:摊销及折旧:

Interest expenses:利息开支：

Interest income:利息收入：

Executive directors:执行董事：

Other emoluments: 其他酬金：

Executive directors:执行董事：

Executive directors:执行董事：

Notes:

Analysed into:分析为：

Note: Godwil was acquired through busines combination while gaming

2022. Given that (i) the heightened uncertainty over the length

Les: Los alowance for impairment

Les: Non-curent portion减：非即期部分(4,154)

Notes:

Notes: (continued)

Notes: (continued)

Notes: (continued)

Notes: (continued)

Notes: (continued)

The movements in impairment alowance of other receivables are as folows:

Notes: (continued)

Properties under development comprises:发展中物业包括:

Completed properties for sale comprises:待售已落成物业包括：

Les: Restricted cash for

Note: