56,366,957.61
	327,146.88	46,857,163.89	593,573.67
	20,697.53	237,615.00
58,795,610.64	60,020,269.00

0.035
	24,4	35.46	24,686.34
0.018
	12,296.17	11,406.79

0.71
0.56
781,555.00
733,770.00

0.39 0.39 0.06 0.06
	12.18	12.18

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	16,303,461	(8,228,341)	8,117,383
–	–	(522,439)	(522,439)
–	14,303	–	14,303
–	(1,004)	–	(1,004)
–	(8,662)	–	(8,662)
–	249	–	249
–	(194,109)	–	(194,109)
–	(189,223)	(522,439)	(711,662)
–	305,150	(305,150)	–
42,263	16,419,388*	(9,055,930)*	7,405,721

Anual Report 2023 年报

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

综合权益变动表

For the year ended 31 December 2023 截至二零二三年十二月三十一日止年度

At 1 January 2023于二零二三年一月一日

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

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

Release of reserve of equity investments

designated at fair value through other

comprehensive income

于出售指定为按公平价值计入

其他全面收益之股权

投资时撤销之储备

At 31 December 2023于二零二三年十二月三十一日

At 1 January 2022于二零二年一月一日42,26316,779,502(8,011,430)8,810,335

Los for the year年度亏损–(216,911)(216,911)

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–584–584

Defered tax debited to aset revaluation reserve 于资产重估储备扣除之递延税项–(79)–(79)

Remeasurements of employe benefit obligation 重新计量雇员福利责任–3,611–3,611

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–(4,091)–(4,091)

Exchange diferences on translation of

foreign operations

换算海外业务之汇兑差额

–(476,849)–(476,849)

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–783–783

Total comprehensive los for the year年度全面亏损总额–(476,041)(216,911)(692,952)

At 31 December 2022于二零二年十二月三十一日42,26316,303,461(8,228,341)8,117,383

* These reserve acounts comprise the consolidated reserves of

HK$7,363,458,000 (2022: HK$8,075,120,000) 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7,363,458,000港元（二零二年：

8,075,120,000港元）。

2023
二零二三年
HK$’000
千港元
(522,748)
(81)
1,406
8
1,229
293,141
1,403
648
12,943
–
10,085
(233)
(767)
(63,726)
110,641
(7,563)
(163,614)
70,684
(617)
89,385
(6,981)
(11,143)
7,563
(110,449)
745
(121)
(113,405)

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 2023 截至二零二三年十二月三十一日止年度

二零二年

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(235,049)

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(85)

Los/(gain) on disposal of items of property,

plant and equipment

出售物业、厂房及设备项目之

亏损╱（收益）6(88)

Los on disposal of items of other

intangible asets

出售其他无形资产项目之亏损

6–

Amortisation of debt discount 借贷贴现摊销61,411

Depreciation of property, plant and equipment 物业、厂房及设备之折旧7488,506

Depreciation of right-of-use asets 使用权资产之折旧71,487

Amortisation of other intangible asets 其他无形资产之摊销7337

Impairment of other intangible asets 其他无形资产减值78,735

Reversal of impairment of trade receivables, net 应收贸易款项减值拨回，净额7(33)

Impairment of gaming receivables, net 博彩应收款项减值，净额719

Reversal of impairment of other receivables, net 其他应收款项减值拨回，净额7(63,168)

Reversal of provision for inventories 存货拨备拨回7(1,692)

Fair value gains on investment properties, net 投资物业之公平价值收益，净额15(76,122)

Finance costs 财务成本8100,770

Finance income 财务收入8(2,119)

222,909

Decrease in completed properties for sale待售已落成物业减少171,945

(Increase)/decrease in inventories存货（增加）╱减少4,356

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16,028

Decrease in trade and

other payables

应付贸易款项及其他应付款项

减少(154,992)

Cash generated (used in)/from operations经营业务（所用）╱所得现金260,246

Interest received已收利息2,119

Interest paid已付利息(100,689)

Income tax refunded已退回所得税–

Income tax paid已付所得税(7,089)

Net cash flows (used in)/from

operating activities

经营业务（所用）╱所得现金流量

净额154,587

2023
二零二三年
HK$’000
千港元
81
(23,178)
2,016
(109)
(21,190)
(192)
–
(99,205)
(1,406)
(100,803)
(235,398)
503,421
(1,980)
266,043
235,831
30,212
266,043

Anual Report 2023 年报

CONSOLIDATED STATEMENT OF CASH FLOWS

综合现金流量表

For the year ended 31 December 2023 截至二零二三年十二月三十一日止年度

二零二年

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85

Purchase of items of property, plant

and equipment

购买物业、厂房及设备项目

14(10,844)

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948

Aditions of other intangible asets添置其他无形资产17(1,672)

Net cash flows used in investing activities投资活动所用现金流量净额(11,483)

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

Interest element on lease liabilities租赁负债利息部分(81)

New bank borowing新造银行借贷1,599,963

Repayment of bank borowing偿还银行借贷(2,031,500)

Principal portion of lease payments租赁付款本金部分29(1,610)

Net cash flows used in financing activities融资活动所用现金流量净额(433,228)

NET DECREASE IN CASH AND

CASH EQUIVALENTS

现金及现金等价物减少净额

(290,124)

Cash and cash equivalents at begining

of the year

年初之现金及现金等价物

820,917

Efect of foreign exchange rate changes, net外币汇率变动之影响，净额(27,372)

CASH AND CASH EQUIVALENTS AT END

OF THE YEAR

年终之现金及现金等价物

503,421

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23332,514

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

23170,907

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

503,421

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

Shin Hwa World 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（「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：

Anual Report 2023 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

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

Shin Hwa World Management LimitedHong KongHK$100100%–Management ofice

神话世界管理有限公司香港100港元管理办事处

Shin Hwa World Resorts Management

Limited

Hong KongHK$100100%–Management ofice

神话世界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）

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

Shinhwa Resorts Philipines

Development Corporation

Republic of the PhilipinesPhilipine Pesos

(“PHP”) 10,300,000

–100%Management ofice

Shinhwa 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 2023.

The Group had the remaining unpaid capital contribution of

RMB14,980,000 as at 31 December 2023.

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，其中于二零二三年十二月三十一日

已实收人民币385,020,000元。于二零

二三年十二月三十一日，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。

Anual Report 2023 年报

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. 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 2023. 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。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」）截至二零二三年十二月

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。

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 (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.

2.1 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）。

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.2 CHANGES IN ACOUNTING POLICIES AND

DISCLOSURES

The Group has adopted the folowing new and revised HKFRSs

for the first time for the curent year’s financial statements.

The nature and the impact of the revised HKFRSs that are

aplicable to the Group are described below:

HKFRS 17 (including

the October 2020 and

February 2020

Amendments to

HKFRS 17)

Insurance Contracts

Amendments to HKAS 1

and HKFRS Practice

Statement 2

Disclosure of Acounting Policies

Amendments to HKAS 8Definition of Acounting Estimates

Amendments to HKAS 12Defered Tax related to Asets

and Liabilities arising from

a Single Transaction

Amendments to HKAS 12International Tax Reform –

Pilar Two Model Rules

The nature and the impact of the new and revised HKFRSs that

are aplicable to the Group are described below:

(a) Amendments to HKAS 1 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

Making Materiality Judgements provide non-mandatory

guidance on how to aply the concept of materiality to

acounting policy disclosures. The Group has disclosed

the material acounting policy information in note 2.4

to the financial statements. The amendments did not

have any impact on the measurement, recognition

or presentation of any items in the Group’s financial

statements.

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

下新订及经修订之香港财务报告准则。

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：

香港财务报告准则

第17号（包括

二零二零年十月及

二零二零年二月之

香港财务报告准则

之第17号（修订）

保险合约

香港会计准则第1号及

香港财务报告准则

实务公告第2号（修订）

会计政策的披露

香港会计准则

第8号（修订）

会计估计的定义

香港会计准则

第12号（修订）

与单一交易产生的

资产及负债相关的

递延税项

香港会计准则

第12号（修订）

国际税务改革－

支柱二规则范本

有关适用于本集团的新订及经修订香港财

务报告准则的性质及影响载述如下。

(a) 香港会计准则第1号（修订）要求实体

披露其重大会计政策资料，而非其

主要会计政策。如会计政策资料与

实体的财务报表内其他资料一并考

虑时，可合理预期会影响一般用途

财务报表主要使用者根据该等财务

报表所作出的决定，则该有关会计

政策资料属重大。香港财务报告准

则实务公告第2号重要性判断（修订）

就如何将重要性概念应用于会计政

策披露提供非强制性指引。本集团

已于财务报表附注2.4披露重大会计

政策资料。该等修订对本集团财务

报表中任何项目的计量、确认或呈

列并无任何影响。

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

2.2 CHANGES IN ACOUNTING POLICIES AND

DISCLOSURES (continued)

(b) 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. Since the

Group’s aproach and policy align with the amendments,

the amendments had no impact on the Group’s financial

statements.

and Liabilities arising from a Single Transaction 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. These amendments had no impact

on the Group’s financial statements as there were no

transactions falen within the scope of these amendments

on or after the begining of the earliest period presented.

(d) Amendments to HKAS 12 International Tax Reform –

Pilar Two Model Rules introduce a mandatory temporary

exception from the recognition and disclosure of defered

taxes arising from the implementation of the Pilar Two

model rules published by the Organisation for Economic

Co-operation and Development. The amendments also

introduce disclosure requirements for the afected entities

to help users of the financial statements beter understand

the entities’ exposure to Pilar Two income taxes,

including the disclosure of curent tax related to Pilar

Two income taxes separately in the periods when Pilar

Two legislation is efective and the disclosure of known

or reasonably estimable information of their exposure to

Pilar Two income taxes in periods in which the legislation

is enacted or substantively enacted but not yet in efect.

Since the Group did not fal within the scope of the Pilar

Two model rules, the amendments did not have any

impact to the Group.

2.2 会计政策及披露变动（续）

(b) 香港会计准则第8号（修订）澄清会计

估计变动与会计政策变动之间的区

别。会计估计被界定为财务报表中

存在计量不确定性的货币金额。该

等修订还阐明实体如何使用计量技

术及输入值以制定会计估计。由于

本集团使用的方法及政策与该等修

订一致，因此该等修订对本集团的

财务报表并无影响。

一交易产生的资产及负债相关的递

延税项收窄了香港会计准则第12号

的初始确认豁免的范围，使其不再

适用于产生同等应课税及可扣减暂

时性差异的交易，如租赁及弃置义

务。因此，实体须就该等交易产生

的暂时性差异确认递延税项资产（惟

须有足够的应课税溢利）及递延税项

负债。由于在最早呈列期间开始时

或之后并无属于该等修订的范围内

的交易，因此该等修订对本集团的

财务报表并无影响。

(d) 香港会计准则第12号（修订）国际税

务改革－支柱二规则范本引入一项

强制性临时豁免规定，豁免确认及

披露因实施经济合作与发展组织刊

发的支柱二规则范本而产生的递延

税项。该等修订亦为受影响的实体

引入披露要求，以协助财务报表使

用者更加了解实体所面临的支柱二

所得税的风险，包括于支柱二立法

生效期间单独披露与支柱二所得税

相关的当前税项，以及于立法已制

定或实质上已制定但尚未生效期间

披露其支柱二所得税风险的已知或

可合理估计的资料。由于本集团不

属于支柱二规则范本的范围内，因

此该等修订对本集团并无任何影响。

Anual Report 2023 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

The Group has not aplied the folowing revised HKFRSs, that

have ben isued but are not yet efective, in these financial

statements.

Amendments to HKFRS 10

and HKAS 28

Sale or Contribution of Asets

betwen an Investor and its

Asociate or Joint Venture

Amendments to HKFRS 16Lease Liability in a Sale

and Leaseback

Amendments to HKAS 1Clasification of Liabilities as

Curent or Non-curent

(the “2020 Amendments”)

1, 4

Amendments to HKAS 1Non-curent Liabilities

with Covenants

(the “2022 Amendments”)

1, 4

Amendments to HKAS 7

and Amendments to

HKFRS 7

Suplier Finance Arangements

Amendments to HKAS 21Lack of Exchangeability

Efective for anual periods begining on or after 1 January 2024

Efective for anual periods begining on or after 1 January 2025

No mandatory efective date yet determined but available for

adoption

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

The directors anticipate that the aplication of al amendments

to HKFRSs have no material impact on the consolidated

financial statements in the foreseable future.

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」）

1, 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」）

1, 4

香港会计准则第7号及

香港财务报告准则第7号

（修订）

供应商融资安排

香港会计准则第21号

（修订）

缺乏可兑换性

二零二四年一月一日或之后开始的年度期

间生效

二零二五年一月一日或之后开始的年度期

间生效

尚未确定强制生效日期，但可供采用

由于二零二零年修订及二零二年修订，

香港诠释第5号财务报表之呈列－借款人对

包含应要求偿还条文之有期贷款之分类已

予以修订，以使其措辞保持一致，而结论

则维持不变

董事预计应用香港财务报告准则之所有修

订于可见将来不会对综合财务报表造成重

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

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION

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.

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.

2.4 重大会计政策资料概要

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。

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。

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (continued)

Busines combinations and godwil (continued)

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 重大会计政策资料概要（续）

业务合并及商誉（续）

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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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

Purchased 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 重大会计政策资料概要（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

已购置的商标及专利具有限可使用年

期，并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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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

MachineriesOver 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 重大会计政策资料概要（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

机器设备按租赁期

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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 does not give rise to

equal taxable and deductible temporary diferences; 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 重大会计政策资料概要（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且不会产生同

等应纳税和可抵扣暂时性差异；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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 does not give rise to equal taxable and deductible

temporary diferences; 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 重大会计政策资料概要（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

损且不会产生同等应纳税和可抵扣

暂时性差异；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 MATERIAL ACOUNTING

POLICY INFORMATION (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 gaming tax

(1% increases progresively up to 10%) on the asesable

net gaming wins from gaming operations as defined by the

legislation. 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 重大会计政策资料概要（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

就法律界定博彩业务之应课税净赢额缴纳

博彩税（由1%逐步增至10%）。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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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.

2.4 重大会计政策资料概要（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。

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 MATERIAL ACOUNTING

POLICY INFORMATION (continued)

Revenue recognition (continued)

Revenue from contracts with customers (continued)

(a) Integrated resort revenue

Revenue from integrated resort, mainly comprised hotel

roms, fod and beverage sales, theme park ticket sales

and retail and cinema ticket sales. Revenue from the

hotel roms is recognised over the scheduled period on

a straight-line basis because the customer simultaneously

receives and consumes the benefits provided by the

Group. Revenue from fod and beverage sales is

recognised at the point in time when the control of fod

and beverage products is transfered to the customer,

generaly upon purchase of the fod and beverage items

by the customer. Revenue from theme park ticket sales are

recognised over time as services are rendered. Revenue

from the cinema ticket sales and the sale of gods are

recognised when the tickets are used or the products are

sold to customers.

(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.

2.4 重大会计政策资料概要（续）

收益确认（续）

客户合约的收益（续）

(a) 综合度假区收益

综合度假区收益主要包括酒店房

间、餐饮销售、主题公园门票销售

及零售及戏院门票销售。自提供酒

店房间之收益于预定期间按直线法

确认，因客户同时接收及消耗本集

团所提供之利益。自酒店餐饮销售

之收益于食品及饮品之控制权转让

予客户之时间点予以确认，一般于

客户购买食品及饮料项目时。主题

公园门票销售所得收益乃提供服务

期间确认。戏院门票及货品销售所

得收益乃于门票使用时或该等产品

售予客户时确认。

(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。

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (continued)

Revenue recognition (continued)

Revenue from contracts with customers (continued)

(b) Gaming revenue (continued)

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.

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.

(d) Property management fe income

Revenue from the provision of property management fe

is recognised over the scheduled period on a straight-line

basis because the customer simultaneously receives and

consumes the benefits provided by the Group.

Revenue from other sources

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.

2.4 重大会计政策资料概要（续）

收益确认（续）

客户合约的收益（续）

(b) 博彩收益（续）

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。

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。

(d) 物业管理费收入

物业管理费产生之收入于计划期间

按直线基准确认，原因是客户同时

收取及消费本集团提供之利益。

其他来源的收益

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。

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 MATERIAL ACOUNTING

POLICY INFORMATION (continued)

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).

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 重大会计政策资料概要（续）

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。

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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

2.4 SUMARY OF MATERIAL ACOUNTING

POLICY INFORMATION (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 重大会计政策资料概要（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 2023 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 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.

(b) Impairment asesment of godwil and gaming licences

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 the uses of the key asumptions including the

growth rates of gros gaming revenue and costs, working

capital neds and pre-tax discount rate in the cash flow

projections, could potentialy afect the recoverable

amounts of 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.

Details of godwil and gaming licences are disclosed in

note 17 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) 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。

(b) 商誉及无限可使用年期之博彩牌照减

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

量的可收回金额作出估计，而关键

假设（包括博彩收益总额及成本增长

率、营运资金需求及现金流量预测

的除税前贴现率）的应用可能对该等

现金流现值的可收回金额造成潜在

影响。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。

商誉及博彩牌照之详情于综合财务

报表附注17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)

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）（续）

估计之不明朗因素（续）

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 2023 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)

(d) 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.

3 重大会计判断及估计（续）

估计之不明朗因素（续）

(d) 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。

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 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）（续）

估计之不明朗因素（续）（续）

(e) 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。

Anual Report 2023 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)

(f) 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.

(g) 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）

(f) 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。

(g) 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
777,558	46,765	211,945	1,036,268
(203,715)	(258,417)	120,733	(341,399)
			(102,886)
			(151)
			(60,512)
			(17,800)
			(522,748)
7,635,605	613,751	456,032	8,705,388
			161,900
			1,400
			61,174
			266,043
			58
			5,105
			9,201,068

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

4 SEGMENT INFORMATION (continued)

Year ended 31 December 2023

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）

截至二零二三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
236,334	81,480	10,123	327,937
			1,417,489
			7
			43,945
			5,969
			1,795,347
261,697	32,091	–	293,788
–	12,943	–	12,943
21	9,831	–	9,852
(81,526)	–	–	(81,526)

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 2023 (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

Impairment of trade and

other receivables, net

应收贸易款项及

其他应收款项

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）

截至二零二三年十二月三十一日止年

度（续）

Anual Report 2023 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

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946,20046,127394,4731,386,800

Segment results分部业绩(154,120)(173,965)202,179(125,906)

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）(98,570)

Unalocated exchange

diferences, net

未分配汇兑差额，

净额31,038

Corporate and other

unalocated expenses, net

企业及其他未分配

开支，净额(28,911)

Fair value loses on

investment properties

in Hong Kong

香港投资物业

之公平价值亏损

(12,700)

Los before tax除税前亏损(235,049)

Segment asets分部资产8,040,428672,333571,6139,284,374

Reconciliation:对账：

Investment properties

in Hong Kong

香港投资物业

179,700

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13,866

Restricted cash受限制现金62,793

Cash and cash equivalents现金及现金等价物503,421

Tax recoverable可收回税项812

Corporate and other

unalocated asets

企业及其他未分配

资产11,056

Total asets资产总值10,056,022

4 分部资料（续）

截至二零二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 2022 (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258,59447,28125,287331,162

Reconciliation:对账：

Interest-bearing

bank borowing

计息银行借贷

1,556,150

Tax payable应付税项79

Defered tax liabilities递延税项负债44,482

Corporate and other

unalocated liabilities

企业及其他未分配

负债6,766

Total liabilities负债总值1,938,639

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453,60735,202–488,809

Impairment of other intangible

asets

其他无形资产减值

–8,735–8,735

(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(63,249)67–(63,182)

Fair value gains on investment

properties in South Korea

南韩投资物业之

公平价值收益(88,822)–(88,822)

4 分部资料（续）

截至二零二年十二月三十一日止年

度（续）

2023
二零二三年
HK$’000
千港元
1,036,268

2023
二零二三年
HK$’000
千港元
7,923,910
165,064
–
8,088,974

Anual Report 2023 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

二零二年

HK$’000

千港元

South Korea南韩1,386,800

The revenue information above is based on the locations

of the customers.

(b) Non-curent asets

二零二年

HK$’000

千港元

South Korea南韩8,282,979

Hong Kong香港184,235

Others其他18

8,467,232

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, equity investments designated at fair value

through other comprehensive income and restricted cash.

Information about major customers

During the years ended 31 December 2023 and 2022, 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、其

他应收款项、指定为按公平价值计

入其他全面收益之股权投资及受限

制现金）列出。

有关主要客户之资料

截至二零二三年及二零二年十二月

三十一日止年度，概无单一客户占本集团

收益总额超过10%。

2023
二零二三年
HK$’000
千港元
994,814
41,454
1,036,268

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
461,807	–	–	461,807
96,556	–	–	96,556
169,226	–	–	169,226
8,515	–	–	8,515
–	43,902	–	43,902
–	2,863	–	2,863
–	–	201,969	201,969
–	–	9,976	9,976
736,104	46,765	211,945	994,814
736,104	46,765	211,945	994,814
177,741	46,765	201,969	426,475
558,363	–	9,976	568,339

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:

二零二年

HK$’000

千港元

Revenue from contracts with customers客户合约的收益1,350,914

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35,886

1,386,800

Revenue from contracts with customers

Disagregated revenue information

For the year ended 31 December 2023

Segments

分部

Types of gods or services商品或服务种类

Hotel rom revenue酒店房间收益

Theme park ticket sales 主题公园门票销售

Fod and beverage sales 餐饮销售

Retail and cinema ticket sales零售及戏院门票

销售

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

At a point in time于一个时间点

Over time于一个时间段

5 收益

收益分析如下：

客户合约的收益

分拆收益资料

截至二零二三年十二月三十一日止年

度

Anual Report 2023 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 2022

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 rom revenue酒店房间收益608,065–608,065

Theme park ticket sales 主题公园门票销售100,248–100,248

Fod and beverage sales 餐饮销售191,302–191,302

Retail sales零售10,699–10,699

Table games桌面游戏–43,531–43,531

Electronic machine games 电子装置游戏–2,596–2,596

Sales of properties销售物业–386,143386,143

Property management 物业管理费收入

fe income–8,3308,330

Total revenue from contracts

with customers

客户合约的收益

总额910,31446,127394,4731,350,914

Geographical markets地区市场

South Korea南韩910,31446,127394,4731,350,914

Timing of revenue recognition收益确认时间

At a point in time于一个时间点202,00146,127386,143634,271

Over time于一个时间段708,313–8,330716,643

5 收益（续）

客户合约的收益（续）

分拆收益资料（续）

截至二零二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	赌客按金及其他博彩负债	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

3,276	56,643	722,081	294,823	207,251	1,284,074
(1,111)	(50,905)	(701,639)	(294,090)	(222,013)	(1,269,758)
(249)	(249)	7	(584)	(623)	(1,698)
12,066	16,442	24,815	22,961	5,391	81,675

Anual Report 2023 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 2022于二零二年一月一日

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

5,4738,79586,338333,382351,408785,396

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

(3,698)(8,150)(84,545)(344,993)(380,932)(822,318)

Exchange realignment汇兑调整(465)(603)(116)(2,312)(3,646)(7,142)

Balance at 31 December 2022

and 1 January 2023

于二零二年

十二月三十一日及

二零二三年一月一日

之结余10,15010,9534,36622,81220,77669,057

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 2023于二零二三年

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：

2023
二零二三年
HK$’000
千港元
81
(1,406)
(8)
(1,229)
413
17,438
–
4,933
20,222

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, NET

二零二年

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

(Los)/gain on disposal of items of

property, plant and equipment

出售物业、厂房及设备项目

之（亏损）╱收益88

Los on disposal of items of

other intangible asets

出售其他无形资产项目之亏损

–

Amortisation of debt discount借贷贴现摊销(1,411)

Foreign exchange diferences, net汇兑差额，净额(3,754)

Forfeited deposits from sales

of properties

没收物业销售保证金

–

Other taxes refunded其他税项之退回19,256

Others其他6,721

20,985

6 其他收入及收益，净额

2023
二零二三年
HK$’000
千港元
70,684
62,783
(767)
132,700
497,877
30,147
528,024
293,141
1,403
648
295,192
–
10,085
(233)
9,852
12,943

Anual Report 2023 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171,945

— Cost of inventories sold —已售存货成本70,285

— Reversal of provision

for inventories

—存货拨备拨回

(1,692)

240,538

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*433,121

— Retirement benefit costs —退休福利成本28,074

461,195

Amortisation and depreciation:摊销及折旧:

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

plant and equipment 折旧14488,506

— Depreciation of right-of- —使用权资产之折旧

use asets16(a)1,487

— Amortisation of other intangible

asets

—其他无形资产之摊销

490,330

Impairment/(reversal of

impairment) of trade and

other receivables, net:

应收贸易款项及其他

应收款项减值╱

（减值拨回），净额：

— Reversal of impairment of

trade receivables, net

—应收贸易款项

减值拨回，净额19(i)(33)

— Impairment of

gaming receivables, net

—博彩应收款项

减值，净额19(i)19

— Reversal of impairment

of other receivables, net

—其他应收款项

减值拨回，净额19(i)(63,168)

(63,182)

Impairment of other intangible asets其他无形资产减值178,735

7 除税前亏损

本集团之除税前亏损已扣除╱（计入）下列

各项：

2023
二零二三年
HK$’000
千港元
1,800
2,111
3,911
126,095
6,494
29,505
66,509
99,761

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1,800

— Audit services to the

subsidiaries of the Company

—向本公司之附属公司

提供之审计服务2,013

3,813

— Building, equipment and

facility maintenance expenses

—楼宇、设备及设施之维修

费用123,551

— Expenses relating to short-term

leases or leases of

low-value asets

—有关短期租赁或低价值

资产租赁之开支

4,183

— Operating suplies

and equipment

—经营供应物品

及设备31,103

— Sales and marketing, promotion —销售及营销、推广和广告

and advertising expenses 费用31,298

— Utilities expenses —公用事业费用90,275

, government grants of

HK$2,401,000 were received under the “Employment Retention

Subsidy” of the Government of South Korea. These amounts were

included in the “wages, salaries and other staf costs” and there were

no unfulfiled conditions or contingencies related to these grants.

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 (2022: Nil).

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

limited to other suport services 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。

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

年：无）。

* 计入「其他营运费用」之其余项目包括但不

限于其他支援服务及行政费用。

2023
二零二三年
HK$’000
千港元
(192)
(110,449)
(110,641)
7,166
397
7,563
(103,078)

2023
二零二三年
HK$’000
千港元
1,100
5,366
180
6,646
480
7,126

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

8 FINANCE COSTS, NET

二零二年

HK$’000

千港元

Interest expenses:利息开支：

— Lease liabilities —租赁负债(81)

— Bank borowing —银行借贷(100,689)

Finance costs财务成本(100,770)

Interest income:利息收入：

— Bank interest income —银行利息收入2,087

— Other interest income —其他利息收入32

Finance income财务收入2,119

Finance costs, net财务成本，净额(98,651)

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:

二零二年

HK$’000

千港元

Executive directors:执行董事：

Fes 袍金1,275

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5,856

Employer’s contributions to retirement

benefit schemes

雇主之退休福利计划

供款209

7,340

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

Fes 袍金480

7,820

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
300	1,344	456	96	2,196
200	912	–	12	1,124
300	1,454	–	54	1,808
1,100	4,910	456	180	6,646
120	–	–	–	120
300	–	–	–	300
60	–	–	–	60
480	–	–	–	480
1,580	4,910	456	180	7,126

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 2023

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

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：

截至二零二三年十二月三十一日止年

度

Anual Report 2023 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 2022

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

–

Ms. Chan Me Sze 陈美思女士3001,200–181,518

Mr. Yeung Lo

杨鲁先生

Dr. Wong Hoi Po 王海波博士3001,344174961,914

Ms. Pu Shen Chen 蒲慎珍女士3001,117–541,471

Mr. Huang Wei 黄威先生3001,543–361,879

1,2755,5682882097,340

Independent non-executive

directors:

独立非执行董事：

Mr. Li Chun Kei 李骏机先生120–120

Mr. Shek Lai Him Abraham 石礼谦先生300–300

Mr. Du Peng 杜鹏先生60–60

480–480

1,7555,5682882097,820

Resigned on 4 April 2022

Suspended on 18 November 2022 and retired on 20 June 2023

Resigned on 1 September 2023

There were no other emoluments payable to the executive

directors and independent non-executive directors during the

year (2022: 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）

截至二零二年十二月三十一日止年

度

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

力及于二零二三年六月二十日退任

于二零二三年九月一日辞任

年内并无应付执行董事及独立非执行董事

之其他酬金（二零二年：无）。

于本年度并无董事免收或同意免收任何薪

酬之安排。

2023
二零二三年
HK$’000
千港元
5,516
142
5,658

2023
二零二三年
HK$’000
千港元
2
1
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 (2022: two 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 (2022:

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

二零二年

HK$’000

千港元

Salaries, alowances and benefits in kind薪金、津贴及实物福利4,773

Employer’s contributions to a retirement

benefit scheme

雇主之退休福利计划供款

4,889

The number of non-director highest paid employes whose

remuneration fel within the folowing bands is as folows:

二零二年

HK$’000

千港元

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

2,000,000港元3

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

2,500,000港元–

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

（二零二年：二名董事），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（二零二年：三名）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：

2023
二零二三年
HK$’000
千港元
35
107
(451)
(309)

2023
二零二三年
HK$’000
千港元
(522,748)
(102,096)
(57,919)
140,449
(70,831)
90,088
(309)

Anual Report 2023 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 2023 (2022: Nil). Corporate

income tax in South Korea is charged progresively from 9%

to 24% (2022: 10% to 25%) on the estimated asesable profit

for the year. 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.

二零二年

HK$’000

千港元

Curent — South Korea即期 — 南韩

Charge for the year 年内扣除100

Curent — Elsewhere即期 — 其他地区

Charge/(credit) for the year 年内扣除╱（抵免）(20,607)

Defered tax (Note 26)递延税项（附注26）2,369

Total tax credit for the year年内税项抵免总额(18,138)

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:

二零二年

HK$’000

千港元

Los before tax除税前亏损(235,049)

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

(93,556)

Income not subject to tax毋须课税收入(137,113)

Expenses not deductible for tax不可扣减税项开支247,001

Tax loses utilised from prior periods使用过往期间税项亏损(129,700)

Tax loses not recognised未有确认的税项亏损95,230

Tax credit for the year年内税项抵免(18,138)

11 所得税

截至二零二三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

二年：无）。韩国企业所得税以年内估

计应评税利润从9%逐步递增至24%（二零

二年：10%至25%）。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：

2023
二零二三年
HK$’000
千港元
(522,439)

2023
二零二三年
’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 2023 (2022: 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：(216,911)

Number of shares

股份数目

二零二年

’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4,226,252

The Group had no potential dilutive ordinary shares outstanding

during the year (2022: Nil).

12 股息

董事会不建议就截至二零二三年十二月

三十一日止年度派付末期股息（二零二

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
1,016,643	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
1,016,643	5,712,330	636	149,984	7,948	35,544	785,042	39,171	7,747,298
–	–	–	417	407	256	–	22,098	23,178
–	(127,399)	(347)	(43,595)	(3,241)	(15,483)	(103,076)	–	(293,141)
–	–	–	(212)	(65)	(2,754)	(391)	–	(3,422)
5	–	–	8,215	–	–	5,116	(13,336)	–
–	1,983	–	–	–	–	–	–	1,983
–	(41,213)	–	–	–	–	–	–	(41,213)
–	14,303	–	–	–	–	–	–	14,303
1,692	43,943	–	–	–	–	–	–	45,635
(688)	(16,496)	–	–	–	–	–	–	(17,184)
(25,027)	(149,930)	–	(4,070)	(160)	(1,021)	(19,744)	(959)	(200,911)
992,625	5,437,521	289	110,739	4,889	16,542	666,947	46,974	7,276,526
992,625	6,214,524	1,040	1,229,518	71,353	107,626	1,531,562	46,974	10,195,222
–	(777,003)	(751)	(1,118,779)	(66,464)	(91,084)	(864,615)	–	(2,918,696)
992,625	5,437,521	289	110,739	4,889	16,542	666,947	46,974	7,276,526

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

14 PROPERTY, PLANT AND EQUIPMENT

31 December 2023二零二三年十二月三十一日

At 1 January 2023:于二零二三年一月一日：

Cost 成本

Acumulated depreciation

and impairment

累计折旧及减值

Net carying amount 账面净值

At 1 January 2023,

net acumulated depreciation

and impairment

于二零二三年一月一日，

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 form investment

properties (Note 15)

转拨自投资物业（附注15）

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 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 2023,

net acumulated depreciation

and impairment

于二零二三年

十二月三十一日，

净累计折旧及减值

At 31 December 2023:于二零二三年

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 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

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

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

Aditions添置– –67093–10,08110,844

Depreciation provided for the year年度折旧拨备– (130,532)(346)(191,093)(6,637)(16,639)(143,259)–(488,506)

Disposals出售– –(52)(564)(244)–(860)

Transfers转拨303(498)–5,1691,038–2,072(8,084)–

Transfer to investment

properties (Note 15)

转拨至投资物业（附注15）

–(855)–(855)

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

–573–573

Transfer to properties

under development (Note 20)

转拨至发展中物业

（附注20）(2,924)–(2,924)

Transfer from completed

properties for sale

转拨自待售已落成

物业– 13,375–13,375

Transfer to completed properties

for sale

转拨至待售已落成

物业– (64,669)–(64,669)

Exchange realignment汇兑调整(58,415)(361,669)– (24,050)(804)(3,503)(56,057)(2,185)(506,683)

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

1,016,6435,712,330636149,9847,94835,544785,04239,1717,747,298

At 31 December 2022:于二零二年

十二月三十一日：

Cost 成本1,016,6436,382,5611,0401,260,73475,089122,8111,567,14039,17110,465,189

Acumulated depreciation

and impairment

累计折旧及减值

– (670,231)(404)(1,110,750)(67,141)(87,267)(782,098)–(2,717,891)

Net carying amount 账面净值1,016,6435,712,330636149,9847,94835,544785,04239,1717,747,298

14 物业、厂房及设备（续）

Anual Report 2023 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 2023, certain of the Group’s property, plant

and equipment with a net carying amount of HK$1,776,727,000

(2022: HK$1,645,152,000) were pledged to banks to secure

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

The directors considered that there was impairment indication

for certain property, plant and equipment of the Group 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 property, plant and

equipment of the Integrated Resort Development cash

generating unit based on fair value les cost of disposal,

the Group engaged Daeil Apraisal Co., Ltd. (Kyungi Buktu

Branch), an independent profesionaly qualified valuer to

perform the valuation in Korea. The fair value asesment,

which was performed by the valuer, has ben arived at based

on either with reference to the curent comparable prices, or

with reference to the reproduction costs or costs of replacing

the improvement 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 the property, plant and

equipment of the Gaming Busines cash generating unit (the

“Gaming CGU”), was 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）

于二零二三年十二月三十一日，账面净

值为1,776,727,000港元（二零二年：

1,645,152,000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

有减值指标，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综合度假区发

展现金产生单位的物业、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Daeil Apraisal Co., Ltd. （京畿北道

分行）于韩国进行估值。由估值师进行之

公平价值评估乃参考现行可资比较价格，

或参考复制成本或更换改进成本减折旧后

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。

博彩业务现金产生单位（「博彩业务现金产

生单位」）之物业、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。

2023
二零二三年
HK$’000
千港元
718,393
41,213
(1,983)
63,726
(13,264)
808,085

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 and prior year. 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 selection of external valuer to be responsible for the

external valuation of the Group’s properties by the Group’s

management is based on the valuers’ 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

二零二年

HK$’000

千港元

Carying amount at 1 January于一月一日之账面值666,410

Transfer from property, plant

and equipment (Note 14)

转拨自物业、厂房及

设备（附注14）855

Transfer to property, plant

and equipment (Note 14)

转拨至物业、厂房及

设备（附注14）–

Fair value gains, net公平价值收益，净额76,122

Exchange realignment汇兑调整(24,994)

Carying amount at 31 December于十二月三十一日之账面值718,393

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，因此于本年度及去年度概无确认减

值。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。

本集团之管理层甄选负责本集团物业外部

估值的外部估值师时，其准则包括市场知

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 2023 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 2023 based on a valuation performed by

Roma Apraisals Limited, an independent profesionaly

qualified valuer, while the properties in Korea was revalued

on 31 December 2023 based on a valuation performed

by Daeil Apraisal Co., Ltd. (Kyungi Buktu Branch), an

independent profesionaly qualified valuer. The fair value was

HK$808,085,000 (2022: HK$718,393,000), and fair value gains

of HK$63,726,000 (2022: HK$76,122,000) was recorded in the

consolidated statement of profit or los for the year. Each

year, the selection of external valuers to be responsible for the

external valuation of the Group’s properties by the Group’s

management is based on the valuers’ 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 2023, the Group’s investment properties

with an agregate carying value of HK$96,090,000 (2022:

HK$89,102,000) 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二零二三

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

二三年十二月三十一日根据独立专业合

资格估值师Daeil Apraisal Co., Ltd.

（京畿北道分行）进行之估值重新估值。

公平价值为808,085,000港元（二零二

年：718,393,000港元），公平价值收益

63,726,000港元（二零二年：76,122,000

港元）于年内计入综合损益表。每年，本

集团之管理层甄选负责本集团物业外部估

值的外部估值师时，其准则包括市场知

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。

于二零二三年十二月三十一日，本集团总

账面值为96,090,000港元（二零二年：

89,102,000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 2023 using
于二零二三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
–	–	161,900	161,900
–	–	646,185	646,185
–	–	808,085	808,085

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 2023 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 2022 using

于二零二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$’000HK$’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

–179,700179,700

Comercial properties in

South Korea

南韩商业物业

–538,693538,693

–718,393718,393

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 (2022: 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（二零二年：无）。

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

–	41,213
–	(1,983)
(17,800)	81,526
–	(13,264)
161,900	646,185

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 2022于二零二年一月一日

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）–855

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

(12,700)88,822

Exchange realignment汇兑调整–(24,994)

Carying amount at 31 December 2022

and at 1 January 2023

于二零二年十二月三十一日

及二零二三年一月一日

之账面值179,700538,693

Transfer from property, plant and

equipment (Note 14)

转拨自物业、厂房

及设备（附注14）

Transfer to properties, plant and

equipment (Note 14)

转拨至物业、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 2023于二零二三年十二月三十一日

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：

2023
二零二三年
46,000
46,000
2,000 to 281,000
5.8%
2,000至281,000
5.8%

Anual Report 2023 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

二零二年

Residential properties

— Hong Kong

Direct comparisonAdjusted market price

(HK$/square fet) (Note i)

52,000

住宅物业— 香港直接比较法经调整市场价格

（港元╱平方呎）（附注i）

52,000

Comercial properties

— South Korea

Income capitalisation

aproach

— Average monthly market rent

(KRW/square meter)

(Note i)

3,000 to 210,000

— Capitalisation rate per anum

(Note i)

5.8%

商业物业— 南韩收入资本化法—平均单位市场月租

（韩圜╱平方米）（附注i）

3,000至210,000

—每年资本化率（附注i）5.8%

Notes:

(i) The higher the market price, 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	Machineries	Total
楼宇	汽车	机器设备	总计
HK$’000	HK$’000	HK$’000	HK$’000
千港元	千港元	千港元	千港元

–	–	4,205	4,205
(875)	(21)	(507)	(1,403)
–	(2)	22	20
584	59	3,720	4,363

Anual Report 2023 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, lease of

motor vehicles generaly have lease terms of 4 years and lease

of machineries generaly have lease terms of 3 to 5 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 2022于二零二年一月一日2,992–2,992

Aditions添置–84–84

Depreciation charge折旧费用(1,483)(4)–(1,487)

Exchange realignment汇兑调整(50)2–(48)

As at 31 December 2022

and 1 January 2023

于二零二年

十二月三十一日

及二零二三年一月一日1,45982–1,541

Aditions添置

Depreciation charge折旧费用

Exchange realignment汇兑调整

As at 31 December 2023于二零二三年

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，租赁汽车之租期一

般为4年而租赁机器设备之租期一般为3

至5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：

2023
二零二三年
HK$’000
千港元
1,748
4,205
192
(1,598)
19
4,566
1,623
2,943

2023
二零二三年
HK$’000
千港元
192
1,403
3,736
2,758
8,089

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:

二零二年

HK$’000

千港元

Carying amount at 1 January于一月一日账面值3,327

New lease新租约84

Acretion of interest recognised

during the year

年内确认利息增加

Payments付款(1,691)

Exchange realignment汇兑调整(53)

Carying amount at 31 December于十二月三十一日之账面值1,748

Analysed into:分析为：

Curent portion 即期部分986

Non-curent portion 非即期部分762

The maturity analysis of lease liabilities is disclosed in note

34(c) to the consolidated financial statements.

leases are as folows:

二零二年

HK$’000

千港元

Interest on lease liabilities租赁负债利息81

Depreciation charge of right-of-use asets使用权资产折旧费用1,487

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）2,079

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）2,104

Total amount recognised in profit or los于损益确认之总金额5,751

(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。

2023
二零二三年
HK$’000
千港元
28,484
24,723
22,659
22,173
16,513
26,852
141,404

Anual Report 2023 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$41,454,000 (2022: HK$35,886,000).

At 31 December 2023, the undiscounted lease payments

receivables by the Group in future periods under non-

cancelable operating leases with its tenants are as folows:

二零二年

HK$’000

千港元

Within one year一年内12,300

After one year but within two years一年后但于两年内11,412

After two years but within thre years两年后但于三年内8,524

After thre years but within four years三年后但于四年内7,003

After four years but within five years四年后但于五年内6,526

After five years五年后11,663

57,428

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41,454,000港元（二零

二年：35,886,000港元）。

于二零二三年十二月三十一日，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）

–	3,254	151,133	154,387
–	109	–	109
–	(8)	–	(8)
–	–	(12,943)	(12,943)
–	(648)	–	(648)
–	(87)	(3,972)	(4,059)
–	2,620	134,218	136,838
4,768	4,656	776,115	785,539
–	(2,036)	–	(2,036)
(4,768)	–	(641,897)	(646,665)
–	2,620	134,218	136,838

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 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

Cost at 1 January 2022,

net of acumulated amortisation

and impairment

于二零二年一月一日之成本，

扣除累计摊销及减值

–2,007169,636171,643

Aditions添置–1,672–1,672

Amortisation provided during the year年度摊销拨备–(337)–(337)

Impairment provided during the year年度减值拨备–(8,735)(8,735)

Exchange realignment汇兑调整–(88)(9,768)(9,856)

At 31 December 2022于二零二年十二月三十一日–3,254151,133154,387

At 31 December 2022:于二零二年十二月三十一日：

Cost 成本4,8944,678796,651806,223

Acumulated amortisation 累计摊销–(1,424)–(1,424)

Acumulated impairment 累计减值(4,894)–(645,518)(650,412)

Net carying amount 账面净值–3,254151,133154,387

31 December 2023二零二三年十二月三十一日

Cost at 1 January 2023, net of于二零二三年一月一日之成本，

acumulated amortisation

and impairment

扣除累计

摊销及减值

Aditions

添置

Disposals

出售

Impairment provided during the year

年度减值拨备

Amortisation provided during the year年度摊销拨备

Exchange realignment汇兑调整

At 31 December 2023于二零二三年十二月三十一日

At 31 December 2023:于二零二三年十二月三十一日：

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。

2023
二零二三年
HK$’000
千港元
26,993
–
134,218

2023
二零二三年
63.32%
19%
2%

Anual Report 2023 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:

二零二年

HK$’000

千港元

Property, plant and equipment物业、厂房及设备52,719

Godwil商誉–

Gaming licenses博彩牌照151,133

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 reasonable expectation of

the recovery in the number of visitors as overseas travel resumed

after the end of the pandemic 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

二零二年

Average growth rate of gros gaming revenue平均博彩收益总额增长率71.71%

Pre-tax discount rate除税前折现率19%

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，亦考虑到疫情结束后，随著海外旅游

恢复，对旅客人数复苏的合理预期，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 test of the 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 new and on-going busines strategy

by the management and the pace of market recovery

after the end of the pandemic. For the year ended 31

December 2023, the revenue of the Gaming Busines

was HK$46,765,000, representing an increase of 1.38%

when compared to the year ended 31 December 2022

(2022: HK$46,127,000, representing a decrease of 47.9%

when compared to the year ended 31 December 2021).

Both the roling volume and non-roling volume have

increased by aproximately 350% and 60% from year 2022

to 2023 respectively, however, the decline in the wining

percentage resulted in a negative efect on the revenue

during the year. The tourism statistic of Korea indicated

that the number of foreign visitors of Jeju has increased by

aproximately 240% in year 2023, however, as compared

to the number in year 2020, the number of foreign visitors

in year 2022 and 2023 were stil below by aproximately

82% and 37%, respectively. The adoption of the projected

average anual gros gaming revenue growth rate of

63.32% (2022: 71.71%), has taken into acount of the

changes of past performances, win rates, the extent of

rebound of visitation of the casino after the resumption

of overseas flights and the reasonable expectations of

the pace of recovery of the performance of the Gaming

CGU to past levels with the implementation of busines

strategy after normalisation of busines in coming years.

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

实施的新订及持续业务策略及疫情

结束后市场复苏的速度。截至二零

二三年十二月三十一日止年度，博

彩业务收益为46,765,000港元，较

截至二零二年十二月三十一日

止年度增加1.38%（二零二年：

46,127,000港元，相当于较截至二

零二一年十二月三十一日止年度减

少47.9%）。转码总额及非转码总额

由二零二年至二零二三年分别增

加约350%及60%，然而赢率减少

为本年度收益带来负面影响。韩国

旅游业数据显示二零二三年到访济

州的外国旅客数目增加约240%，

然而与二零二零年的数字相比，二

零二年及二零二三年的外国旅客

数目仍然分别少约82%及37%。采

纳预测平均年度博彩收益总额增长

率63.32%（二零二年：71.71%）

已计及过往业绩的变化、赢率、恢

复海外航班后娱乐场访客量反弹的

程度，以及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的

合理预期。

Anual Report 2023 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)

– 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.

– 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.

During the year ended 31 December 2023, the impairment of

other intangible asets HK$12,943,000 (2022: HK$8,735,000)

were recognised in the consolidated statement of profit or los.

The impairment is mainly a result of the chalenging market

environment faced in the post-pandemic period.

If the average growth rate of gros gaming revenue aplied

the cash flow projections of the CGU had ben 10% 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$36,458,000 (2022:

HK$78,497,000).

If the 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$20,985,000 (2022: HK$20,452,000).

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$14,415,000 (2022: HK$15,521,000).

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）

－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。

－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。

截至二零二三年十二月三十一日止年度，

其他无形资产减值为12,943,000港元（二

零二年：8,735,000港元）于综合损益表

内确认。减值主要由于疫情过后的市场环

境充满挑战。

倘按现金产生单位的现金流量预测的博

彩收益总额平均增长率较管理层估计低

10%，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

36,458,000港元（二零二年：78,497,000

港元）。

倘按现金产生单位的现金流量预测的折现

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20,985,000

港元（二零二年：20,452,000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

14,415,000港元（二零二年：15,521,000

港元）。

2023
二零二三年
HK$’000
千港元
1,400

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

18 EQUITY INVESTMENTS DESIGNATED

AT FAIR VALUE THROUGH OTHER

COMPREHENSIVE INCOME

二零二年

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13,866

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 2023, the Group

received dividends of HK$81,000 (2022: HK$85,000) from the

equity investments designated at fair value through other

comprehensive income.

In February 2023, the cancelation price of the equity investment

in Kingston Financial Group Limited was deposited in securities

acount upon the completion of its privatisation.

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。

截至二零二三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81,000港元

（二零二年：85,000港元）。

于二零二三年二月，于金利丰金融集团有

限公司的股权投资在私有化完成后之注销

价存于证券户口。

2023
二零二三年
HK$’000
千港元
31,985
(350)
31,635
837
8,762
30,369
3
2,199
65,548
139,353
(70,596)
68,757

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

19 PREPAYMENTS, TRADE AND OTHER

RECEIVABLES

二零二年

HK$’000

千港元

Trade receivables应收贸易款项24,392

Les: Los alowance for impairment

of trade receivables

减：应收贸易款项之

减值亏损拨备(359)

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

净额（附注(i)）24,033

Receivables from gaming customers (Note (i)应收博彩客户款项（附注(i)）3,469

Other receivables (Note (i)其他应收款项（附注(i)）77,358

Prepayments 预付款项20,332

Value-aded tax recoverable可收回增值税3

Deposits (Note (iv)订金（附注(iv)）10,091

Restricted deposit for bank borowing银行借贷之受限制存款96,795

232,081

Les: Non-curent portion减：非即期部分(104,435)

Curent portion即期部分127,646

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。

2023
二零二三年
HK$’000
千港元
27,657
2,290
1,610
78
31,635

2023
二零二三年
HK$’000
千港元
359
–
–
(9)
350

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:

二零二年

HK$’000

千港元

Within 30 days30日内23,303

31 to 60 days31至60日288

61 to 90 days61至90日65

Over 90 days90日以上377

24,033

The movements in the los alowance for impairment of trade

receivables are as folows:

二零二年

HK$’000

千港元

At begining of year于年初493

Reversal of impairment recognised, net减值拨回确认，净额(33)

Amount writen of as uncolectible撇销为不可收回金额(71)

Exchange realignment汇兑调整(30)

At end of year于年末359

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%	81.78%	1.09%
27,657	2,290	1,610	428	31,985
–	–	–	350	350

Anual Report 2023 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 2023

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 2022

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%48.8%1.47%

Gros carying amount

(HK$’000)

账面总值

（千港元）23,3032886573624,392

Expected credit loses

(HK$’000)

预期信贷亏损

（千港元）–359359

(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 36% (2022: 89%) and 100% (2022: 100%) of the Group’s gaming

receivables represent the Group’s highest gaming receivable from

a customer and five (2022: thre) 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：

于二零二三年十二月三十一日

于二零二年十二月三十一日

(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（二零

二年：三）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36%（二零二年：89%）及100%（二零

二年：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。

2023
二零二三年
HK$’000
千港元
707
130
–
837

2023
二零二三年
HK$’000
千港元
311,035
10,085
(112,545)
(5,058)
203,517

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:

二零二年

HK$’000

千港元

Within 30 days30日内3,292

31 to 60 days31至60日–

61 to 90 days61至90日177

3,469

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:

二零二年

HK$’000

千港元

At begining of year于年初336,260

Impairment loses recognised , net减值亏损确认，净额19

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

Exchange realignment汇兑调整(25,244)

At end of year于年末311,035

During the year ended 31 December 2023, the los alowance of

HK$10,085,000 (2022: 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 2023, receivables from gaming customers amounting

to HK$203,517,000 (2022: HK$311,035,000) were fuly impaired and

provided for.

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：

截至二零二三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10,085,000港元

（二零二年：19,000港元）。于二零

二三年十二月三十一日，应收博彩客户

款项为203,517,000港元（二零二年：

311,035,000港元）已全数减值及作拨备。

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%	100.00%	100.00%	99.59%
707	130	3,013	200,504	204,354
–	–	3,013	200,504	203,517

Anual Report 2023 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 2023

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 2022

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%9.69%100.00%98.90%

Gros carying amount

(HK$’000)

账面总值

（千港元）3,292–196311,016314,504

Expected credit loses

(HK$’000)

预期信贷亏损

（千港元）–19311,016311,035

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：

于二零二三年十二月三十一日

于二零二年十二月三十一日

2023
二零二三年
HK$’000
千港元
9,480
(233)
–
254
9,501

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.

Decrease in balance was mainly due to the setlement of

HK$62,827,000 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:

二零二年

HK$’000

千港元

At begining of year于年初78,520

Reversal of impairment loses recognised, net减值亏损拨回确认，净额(63,168)

Amount writen of as uncolectible, net撇销为不可收回金额，净额(56)

Exchange realignment汇兑调整(5,816)

At end of year于年末9,480

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.

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

Decrease in balance was mainly due to (i) HK$2,475,000 that has

ben pledged as colateral in prior year has ben released upon the

finalisation of a lawsuit in Korea, and (i) HK$3,851,000 that has ben

deposited in a securities amount has ben withdrawn.

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。

余额减少的主要原因是结算有关独立第三

方之租赁相关应收账款及管理费应收账款

62,827,000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。

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

结余减少的主要原因为（i）于过往年度已抵

押为抵押品的2,475,000 港元已于一宗韩国

诉讼终结后撤销，以及（i）以证券金额存入

的3,851,000 港元已被提取。

2023
二零二三年
HK$’000
千港元
1,940
127,888
9,524
1
139,353

2023
二零二三年
HK$’000
千港元
107,536
–
–
(2,772)
104,764
104,764
104,764

Anual Report 2023 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 2023 and 2022,

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:

二零二年

HK$’000

千港元

HK$港元6,341

KRW韩圜225,641

US$美元98

Others其他1

232,081

20 PROPERTIES UNDER DEVELOPMENT

二零二年

HK$’000

千港元

At the begining of the year, at cost于年初，按成本值113,921

Transfer to completed properties for sale转拨至待售已落成物业(498)

Transfer from properties, plant and equipment

(Note 14)

转拨自物业、厂房及设备

(附注14)2,924

Exchange realignment汇兑调整(8,811)

At the end of the year, at cost于年末，按成本值107,536

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

Land use rights 土地使用权107,536

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107,536

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。于二零二三年及二零二年

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

2023
二零二三年
HK$’000
千港元
104,764

2023
二零二三年
HK$’000
千港元
323,344
9,331
13,132
345,807

2023
二零二三年
HK$’000
千港元
13,132

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:

二零二年

HK$’000

千港元

South Korea南韩

Frehold land永久业权土地107,536

At 31 December 2023, the Group’s properties under

development with an agregate carying value of

HK$104,764,000 (2022: HK$107,536,000) was pledged to secure

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

21 COMPLETED PROPERTIES FOR SALE

二零二年

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427,572

Interest capitalised 资本化利息12,021

Land use rights 土地使用权17,383

456,976

The analysis of land costs with an agregate net carying

amount included in completed properties for sale is as folows:

二零二年

HK$’000

千港元

South Korea南韩

Frehold land永久业权土地17,383

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：

于二零二三年十二月三十一日，本集团总

账面值为104,764,000港元（二零二年：

107,536,000港元）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。

2023
二零二三年
HK$’000
千港元
45,133
11,524
56,657

2023
二零二三年
HK$’000
千港元
235,831
30,212
61,174
327,217
(61,174)
266,043

Anual Report 2023 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 2023, cost of completed

properties for sale amounted to HK$70,684,000 (2022:

HK$171,945,000) were recognised in the consolidated statement

of profit or los.

At 31 December 2023, the Group’s completed properties

for sale with a carying value of HK$191,329,000 (2022:

HK$456,976,000) 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

二零二年

HK$’000

千港元

Raw materials原材料48,490

Finished gods制成品8,428

56,918

23 CASH AND CASH EQUIVALENTS AND

RESTRICTED CASH

二零二年

HK$’000

千港元

Cash and bank balances 现金及银行结余332,514

Short-term time deposits短期定期存款170,907

Restricted cash for the Cash Incident (Note)现金事件受限制现金（附注）62,793

566,214

Les: Restricted cash for

the Cash Incident (Note)

减：现金事件受限制现金

（附注）(62,793)

Cash and cash equivalents现金及现金等价物503,421

21 待售已落成物业（续）

截至二零二三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70,684,000港元（二零二年：

171,945,000港元）。

于二零二三年十二月三十一日，本集团账

面值为191,329,000港元（二零二年：

456,976,000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$80,762,000 as at 31 December

2023) (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 in 2021, 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, a 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 Seized Money, found in the

premises of the Group of KRW10,150,000,000 (equivalent to HK$72,325,000)

and elsewhere of KRW3,250,000,000 (equivalent to HK$23,158,000), is

anticipated to be part of the mising fund. In October 2023, the police

investigation was suspended. As at 31 December 2023, the police

investigation was pending for further evidence and recomencement.

As at 31 December 2023, the balance of this restricted cash amounted to

KRW10,150,000,000 (equivalent to HK$61,174,000) (2022: KRW10,150,000,000)

and it has ben reclasified from a curent aset to a non-curent aset as the

investigation is not expected to concluded within a year.

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（相当于二零二三年

十二月三十一日之重新换算金额80,762,000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完成。

根据于二零二一年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，损失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。

在本集团的物业及其他地方找回的扣押款的余额

分别为10,150,000,000韩圜（相当于72,325,000

港元）及3,250,000,000韩圜（相当于23,158,000

港元），预计将为失款的一部分。于二零二三

年十月，警方暂停调查，于二零二三年十二月

三十一日，警方仍等待进一步证据及重启调查。

于二零二三年十二月三十一日，此受限制现金结

余为10,150,000,000韩圜（相当于61,174,000港

元）（二零二年：10,150,000,000韩圜）。由于此

调查预计不会于年内结束，此受限制现金已由流

动资产重新分类为非流动资产。

2023
二零二三年
HK$’000
千港元
50,654
653
201,744
294
10,283
1,632
783
266,043

2023
二零二三年
HK$’000
千港元
6,136
14,624
75,146
57,195
30,526
64,038
81,675
329,340
(18,417)
310,923

Anual Report 2023 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:

二零二年

HK$’000

千港元

HK$港元227,245

GBP英镑654

KRW韩圜260,130

SGD新加坡元7,940

US$美元5,478

PHP菲律宾披索1,885

Others其他89

503,421

24 TRADE AND OTHER PAYABLES

二零二年

HK$’000

千港元

Trade payables (Note)应付贸易款项（附注）7,584

Deposit received已收订金8,877

Acrued expenses应计开支77,864

Acrued employe benefits应计雇员福利52,969

Other tax payables其他应付税项35,105

Other payables (Note)其他应付款项（附注）84,724

Contract liabilities (Note 5)合约负债（附注5）69,057

336,180

Les: Non-curent portion减：非即期部分(12,783)

Curent portion即期部分323,397

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

2023
二零二三年
HK$’000
千港元
4,901
324,299
102
38
329,340

2023
二零二三年
Effective interest rate	Maturity	HK$’000
实际利率
(%)	到期日	千港元
–	–	–
–	–
2.75% +Korea Commercial Paper rate	2025	1,417,489
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	1,417,489

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:

二零二年

HK$’000

千港元

HK$港元4,934

KRW韩圜331,015

SGD新加坡元84

Others其他147

336,180

25 INTEREST-BEARING BANK BOROWING

二零二年

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2.75%

+Korea

Comercial

Paper rate

202331,937

2.75厘

+韩国商业

票据利率

二零二三年

Non-curent非即期

Bank loan — secured银行贷款— 抵押2.75%

+Korea

Comercial

Paper rate

20251,524,213

2.75厘

+韩国商业

票据利率

二零二五年

1,556,150

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

2023
二零二三年
HK$’000
千港元
–
1,417,489
–
1,417,489
–
1,417,489

2023
二零二三年
HK$’000
千港元
1,417,489

Anual Report 2023 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31,937

In the second year 第二年–

In the third year 第三年1,524,213

1,556,150

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(31,937)

Amount clasified as non-curent portion列为非即期部分的金额1,524,213

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

plant and equipment amounting to HK$1,776,727,000 (2022:

HK$1,645,152,000) (Note 14), investment properties amounting

to HK$96,090,000 (2022: HK$89,102,000) (Note 15), properties

under development amounting to HK$104,764,000 (2022:

HK$107,536,000) (Note 20) and completed properties for sale

amounting to HK$191,329,000 (2022: HK$456,976,000) (Note 21).

二零二年

HK$’000

千港元

KRW韩圜1,556,150

25 计息银行借贷（续）

银行借贷以本集团物业、厂房及设备为

1,776,727,000港元（二零二年：1,645,152,000

港元）（附注14）、投资物业为96,090,000港元（二

零二年：89,102,000港元）（附注15）、发展中物

业为104,764,000港元（二零二年：107,536,000

港元）（附注20）及待售已落成物业为191,329,000

港元（二零二年：456,976,000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

(451)	–	–	(451)
–	1,004	–	1,004
(348)	(351)	(391)	(1,090)
12,597	16,597	14,751	43,945

2023
二零二三年
HK$’000
千港元
43,945

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 2022于二零二年一月一日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

2,369–2,369

Defered tax debited to

equity during the year

年内借记至权益

之递延税项–79–79

Exchange realignment汇兑调整(610)(813)(907)(2,330)

At 31 December 2022 and

1 January 2023

于二零二年

十二月三十一日及

二零二三年一月一日13,39615,94415,14244,482

Defered tax credited to the

statement of profit or los

during the year

于年内递延税项记入

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 2023于二零二三年

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44,482

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：

2023
二零二三年
HK$’000
千港元
217,621
–
–
–
204,543
357,453
433,621
433,938
1,647,176

Anual Report 2023 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$1,647,915,000 (2022: HK$1,595,979,000). Included

in unrecognised tax loses are loses of HK$1,647,176,000

(2022: HK$1,595,240,000) that wil expire as folows. Other loses

may be caried forward indefinitely. As at 31 December 2023,

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.

二零二年

HK$’000

千港元

2029二零二九年292,535

2030二零三零年209,955

2031二零三一年341,996

2032二零三二年202,376

2035二零三五年–

2036二零三六年305,660

2037二零三七年242,718

2038二零三八年–

1,595,240

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 2023 and 31 December 2022, no

unremited earnings that are subject to witholding taxes of

the Group’s subsidiaries established in Mainland China. At 31

December 2023 and 31 December 2022, 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.

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1,647,915,000港元（二零二年：

1,595,979,000港元）。未确认税项亏损

包括1,647,176,000港元（二零二年：

1,595,240,000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

零二三年十二月三十一日，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

二三年十二月三十一日及二零二年十二

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。于二零二三

年十二月三十一日及二零二年十二月

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。

2023
二零二三年
HK$’000
千港元
10,000,000
42,263

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

27 SHARE CAPITAL

二零二年

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

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	(701,047)	(518,841)	77,271	(305,149)	(8,228,341)	8,075,120
–	–	–	–	–	–	–	(522,439)	(522,439)
–	–	–	–	–	14,303	–	–	14,303
–	–	–	–	–	(1,004)	–	–	(1,004)
–	–	–	–	(8,662)	–	–	–	(8,662)
–	–	–	–	–	–	249	–	249
–	–	–	(194,109)	–	–	–	–	(194,109)
–	–	–	(194,109)	(8,662)	13,299	249	(522,439)	(711,662)
–	–	–	–	–	–	305,150	(305,150)	–
14,283,793*	6,503*	3,460,931*	(895,156)*	(527,503)*	90,570*	250*	(9,055,930)	7,363,458

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

28 RESERVES

At 1 January 2023于二零二三年一月一日

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

Total comprehensive

los for the year

年度全面亏损总额

Release of reserve of equity

investments designated at

fair value through other

comprehensive income

于出售指定为按公平价值

计入其他全面收益

之股权投资时

撤销之储备

At 31 December 2023于二零二三年

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 2022于二零二年一月一日14,283,7936,5033,460,931(224,981)(522,452)76,766(301,058)(8,011,430)8,768,072

Los for the year年度亏损– –(216,911)(216,911)

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

–584–584

Defered tax debited to

aset revaluation reserve

于资产重估储备扣除

之递延税项–(79)–(79)

Remeasurement of employe

benefit obligation

重新计量雇员福利责任

– –3,611–3,611

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

– –(4,091)–(4,091)

Exchange diferences on

translation of

foreign operations

换算海外业务之汇兑差额

– –(476,849)–(476,849)

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

– – – 783– – – – 783

Total comprehensive

los for the year

年度全面亏损总额

– –(476,066)3,611505(4,091)(216,911)(692,952)

At 31 December 2022于二零二年

十二月三十一日14,283,7936,5033,460,931(701,047)(518,841)77,271(305,149)*(8,228,341)8,075,120

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

capital reorganisation.

* These reserve acounts comprise the consolidated other reserves

of HK$16,419,388,000 (2022: HK$16,303,461,000) 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16,419,388,000港元（二零二年：

16,303,461,000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
1,556,150	1,748
(99,205)	(1,598)
1,229	–
–	4,205
–	192
(40,685)	19
1,417,489	4,566

Anual Report 2023 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$4,205,000 (2022:

HK$84,000) and HK$4,205,000 (2022: HK$84,000),

respectively, in respect of lease arangements for

a leased motor vehicle, machineries and leased

premises.

(b) Changes in liabilities arising from financing

activities

At 1 January 2023于二零二三年一月一日

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

Exchange realignment汇兑调整

At 31 December 2023于二零二三年

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、机器设备

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4,205,000港元（二零二

年：84,000港元）及4,205,000

港元（二零二年：84,000港

元）。

(b) 融资活动产生的负债变化

二零二三年

2023
二零二三年
HK$’000
千港元
6,494
1,598
8,092

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 2022于二零二年一月一日2,114,5153,327

Changes from financing cash flows融资现金流量变动(431,537)(1,691)

Changes from operating cash flows营运现金流量变动1,411–

New lease新租赁–84

Interest expense利息开支–81

Exchange realignment汇兑调整(128,239)(53)

At 31 December 2022于二零二年

十二月三十一日1,556,1501,748

The total cash outflow for leases included in the

consolidated statement of cash flows is as folows:

二零二年

HK$’000

千港元

Within operating activities经营业务内4,183

Within financing activities融资活动内1,691

5,874

29 综合现金流量表附注（续）

(b) 融资活动产生的负债变化（续）

二零二年

综合现金流量表中包括的租赁现金

流出总额如下：

2023
二零二三年
HK$’000
千港元
–
66,961
66,961

2023
二零二三年
HK$’000
千港元
7,126

Anual Report 2023 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259

Properties under development 发展中物业39,016

39,275

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:

二零二年

HK$’000

千港元

Short-term benefits (Note)短期福利（附注）7,820

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
1,400	–	1,400
–	108,981	108,981
–	61,174	61,174
–	266,043	266,043
1,400	436,198	437,598

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

二零二三年

Anual Report 2023 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

13,866–13,866

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–211,746211,746

Restricted cash受限制现金–62,79362,793

Cash and cash equivalents现金及现金等价物–503,421503,421

13,866777,960791,826

32 按类别划分之财务工具（续）

财务资产（续）

二零二年

2023
二零二三年
HK$’000
千港元
159,944
1,417,489
4,566
1,581,999

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179,049

Interest-bearing bank borowing计息银行借贷1,556,150

Leases liabilities租赁负债1,748

1,736,947

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
1,400	–	–	1,400

Anual Report 2023 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 2023 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 2023 and 2022.

At 31 December 2023于二零二三年

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

二三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。

下表呈列本集团于二零二三年及二零二

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 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13,866–13,866

The Group did not have any financial liabilities measured at fair

value as at 31 December 2023 and 2022.

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 (2022: Nil).

33 财务工具之公平价值及公平价值

等级（续）

于二零二三年及二零二年十二月三十一

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

（二零二年：无）。

Anual Report 2023 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.

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。

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 2023, 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% (2022: 5%), with al

other variables held constant, the Group’s other

components of equity wil increased/decreased by

HK$70,000 (2022: HK$693,000) 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。

于二零二三年十二月三十一

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70,000港元（二零二年：

693,000港元），主要由于该等

投资之公平价值出现变动。

Anual Report 2023 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 2023, the

gaming receivables representing 0.77% (2022: 1.64%) 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。于二零二三年十二月

三十一日，应收博彩款项相当于本

集团之财务资产总值之0.77%（二

零二年：1.64%），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
–	–	–	31,985	31,985
–	–	–	204,354	204,354
76,509	–	–	–	76,509
–	5,805	–	–	5,805
61,174	–	–	–	61,174
266,043	–	–	–	266,043
403,726	5,805	–	236,339	645,870

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 2023

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。

于二零二三年十二月三十一日

Anual Report 2023 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 2022

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–24,39224,392

Gaming receivables应收博彩款项–314,504314,504

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184,244–184,244

— Doubtful —呆账–5,817–5,817

Restricted cash

— Not yet past due

受限制现金

—尚未逾期62,793–62,793

Cash and cash equivalents

— Not yet past due

现金及现金等价物

—尚未逾期503,421–503,421

750,4585,817–338,8961,095,171

* 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
142,179	3,904	13,340	521	159,944
1,865	1,181	2,077	–	5,123
101,159	1,474,457	–	–	1,575,616
245,203	1,479,542	15,417	521	1,740,683

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$266,043,000 (2022: HK$503,421,000)

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

HK$41,234,000 (2022: HK$40,370,000) (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. None of the

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

31 December 2023 (2022: 2.1%) 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 2023于二零二三年

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266,043,000港元（二零

二年：503,421,000港元）（附注

23）以及应收贸易款项及其他应收款

项净额为41,234,000港元（二零二

年：40,370,000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。于二零二三年十二月

三十一日，本集团并无债务将于一

年内到期（二零二年：2.1%），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 2023 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 years

Over

5 yearsTotal

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$’000HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元千港元

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167,2813,5607,259949179,049

Lease liabilities租赁负债1,02673047–1,803

Interest-bearing bank

borowing

计息银行

借贷161,407125,4631,600,955–1,887,825

329,714129,7531,608,2619492,068,677

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 2023 and 31 December 2022.

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。

于截至二零二三年十二月三十一日及二零

二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。

2023
二零二三年
HK$’000
千港元
1,417,489
(327,217)
1,090,272
7,405,721
8,495,993
12.8%

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 2023 and 2022 were as folows:

二零二年

HK$’000

千港元

Interest-bearing bank borowing

(Note 25)

计息银行借贷

（附注25）1,556,150

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）(566,214)

Net debt债务净额989,936

Total equity总权益8,117,383

Capital and net debt资本及债务净额9,107,319

Gearing ratio负债比率10.9%

As at 31 December 2023, the gearing ratio is 12.8% (2022:

10.9%).

35. EVENTS AFTER THE REPORTING PERIOD

On 20 March 2024, the Company completed the alotment

and isuance of 845,250,000 ordinary shares (the “Subscription

Shares”) under the general mandate to Resplendence

Investment Development Limited (the “Subscriber”), who

is an independent third party, at the subscription price of

HK$0.034 per share pursuant to the terms and conditions of the

subscription agrement dated 1 March 2024, entered betwen

the Company and the Subscriber and Subscriber’s guarantor.

The Subscription Shares representing aproximately 16.67%

of the isued share capital of the Company as enlarged by the

alotment and isuance of the Subscription Shares imediately

upon completion.

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。于二零二三

年及二零二年十二月三十一日之负债比

率如下：

于二零二三年十二月三十一日，负债比率

为12.8%（二零二年：10.9%）。

35. 报告期后事项

于二零二四年三月二十日，本公司根据由

本公司与认购人及认购人之担保人订立日

期为二零二四年三月一日之认购协议的条

款及条件，按每股认购价0.034港元根据

一般授权完成配发及发行845,250,000股

普通股（「认购股份」）予独立第三方明华投

资发展有限公司（「认购人」）。认购股份相

当于紧随完成后经配发及发行认购股份扩

大之本公司已发行股本约16.67%。

2023
二零二三年
HK$’000
千港元
2,024,931
344
4,409,980
–
6,435,255
447,927
689
19,418
468,034
2,370
188,328
190,698
277,336
6,712,591
42,263
6,670,328
6,712,591

Anual Report 2023 年报

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

综合财务报表附注

36 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2,156,239

Property, plant and equipment物业、厂房及设备697

Amount due from a subsidiary应收一间附属公司款项7,091,709

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12,079

Total non-curent asets非流动资产总值9,260,724

CURENT ASETS流动资产

Amounts due from subsidiaries应收附属公司款项1,231,870

Prepayments and other receivables预付款项及其他应收款项4,803

Cash and cash equivalents现金及现金等价物86,806

Total curent asets流动资产总值1,323,479

CURENT LIABILITIES流动负债

Other payables其他应付款项2,374

Amounts due to subsidiaries应付附属公司款项167,171

Total curent liabilities流动负债总值169,545

NET CURENT ASETS流动资产净值1,153,934

Net asets资产净值10,414,658

EQUITY权益

Share capital股本42,263

Reserves (Note)储备（附注）10,372,395

Total equity总权益10,414,658

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

36 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

–	–	–	–	–	(3,702,703)	(3,702,703)
–	–	–	–	636	–	636
–	–	–	–	636	(3,702,703)	(3,702,067)
–	–	–	–	305,150	(305,150)	–
14,283,793	6,503	3,460,931	193,993	–	(11,274,892)	6,670,328

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

36 STATEMENT OF FINANCIAL POSITION OF

THE COMPANY (continued)

Note:

A sumary of the Company’s reserves is as folows:

At 1 January 2022于二零二年一月一日14,283,7936,5033,460,931193,993(301,548)(6,714,134)10,929,538

Los for the year年度亏损–(552,905)(552,905)

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–(4,238)–(4,238)

Total comprehensive los for the year年度全面亏损总额–(4,238)(552,905)(557,143)

At 31 December 2022 and 1 January 2023于二零二年十二月三十一日及

二零二三年一月一日14,283,7936,5033,460,931193,993(305,786)(7,267,039)10,372,395

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

Release of reserve of equity investment

designated at fair value through other

comprehensive income

于出售指定为按公平价值计入

其他全面收益之股权投资时

撤销之储备

At 31 December 2023于二零二三年十二月三十一日

37 APROVAL OF THE FINANCIAL STATEMENTS

The financial statements were aproved and authorised for

isue by the board of directors on 27 March 2024.

36 本公司财务状况表（续）

附注：

本公司储备概要如下：

37 批准财务报表

财务报表于二零二四年三月二十七日经董

事会批准及授权刊发。

Anual Report 2023 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

19Residential100%

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

2023
二零二三年
HK$’000
千港元
1,036,268
(522,439)
(522,439)

2023
二零二三年
HK$’000
千港元
9,201,068
(1,795,347)
7,405,721

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 2019, 2020, 2021, 2022 and 2023,

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

二零二年二零二一年二零二零年二零一九年

HK$’000HK$’000HK$’000HK$’000

千港元千港元千港元千港元

RESULTS业绩

Revenue收益1,386,8001,349,996788,011815,533

Los for the year年度亏损(216,911)(1,055,766)(2,115,001)(2,132,855)

Atributable to:应占：

Owners of the parent 母公司拥有人(216,911)(1,055,766)(2,115,001)(2,132,855)

At 31 December

于十二月三十一日

二零二年二零二一年二零二零年二零一九年

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10,056,02211,509,97213,548,54215,119,840

Total liabilities负债总值(1,938,639)(2,699,637)(3,101,925)(3,235,073)

Net asets资产净值8,117,3838,810,33510,446,61711,884,767

以下为本集团截至二零一九年、二零二零年、

二零二一年、二零二年及二零二三年十二月

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。

2023
二零二三年
1,495
40
1,346
109
633
429
267
128
38
875
620
522
973
1,327
168
33.78%
35.23%
41.03%
26.59%
19.53%
26.32%
30.97%
37.74%

2023
二零二三年
39.00%
63.35%
19.81%
16.10%
28.91%
44.74%
34.17%
45.81%
23
0.96
406
0
41,560
100%

2023
二零二三年
1,238
735
503
485
753
83%
84.00%
81.13%
92.91%
77.39%
20,111
10,798.0
9,313.0
7,736.5
12,374.5
13.5
12.3
15.0
14.8
12.7
682
660
3
3
3
1
3
3
2
1
1
1
1

2023
二零二三年
24.2%
1.1

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:

Notes:

1. LIL, incorporated in the British Virgin Islands, whose entire isued share

2. Wealth Milenium, whose entire isued share capital is held by Ms. Lam,

3. Resplendence Investment Development Limited, whose entire isued share

4. Tinmark, through its owned subsidiaries, holds 138,283,200 shares of the

5. 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

4. Tinmark透过其拥有附属公司持有138,283,200

5. 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:

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

Les: Los alowance for impairment

Les: Non-curent portion减：非即期部分(104,435)

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:

Les: Non-curent portion减：非即期部分(12,783)

Note: