Financial Report 2020

1 The University of Hong Kong 香港大學 Treasurer’s Report 司庫報告書 (Expressed in Hong Kong dollars) （以港幣列賬） OVERVIEW The financial year 2019-20 was the first year of the 2019-22 triennium. Hong Kong faced great challenges this year with social unrest locally and the COVID-19 pandemic globally. The University has adopted extraordinary measures to maintain a safe and healthy environment on campus. To maintain social distancing, the University has offered a hybrid mode with teaching and learning online and face- to-face interactions. The Group has demonstrated its commitment to provide world-class education and research and delivered the impact through internationalisation, innovation and interdisciplinarity. A surplus of $1,427 million was recorded in the Group’s consolidated financial results, notably the result of the government matching scheme for generous donations from the community. In preparing the consolidated financial statements, the Group has adopted certain new/revised Hong Kong Financial Reporting Standards (“HKFRS”) issued by the Hong Kong Institute of Certified Public Accountants which are relevant and applicable to the Group’s ope r a t i on and comp l y wi t h t he St a t emen t o f Recommended Practice for the University Grants Committee (“UGC”) -Funded Institutions. RESULTS FOR THE YEAR The Group’s consolidated results for the year ended 30 June 2020 are summarised as follows: 2020 $ million 百萬元 2019 $ million 百萬元 Income 收入 12,514 10,670 Expenditure 支出 (11,092) (10,279) Surplus from Operations 營運盈餘 1,422 391 Share of Surplus of Joint Ventures and Associates 應佔合營企業及聯營公司盈餘 12 11 Gain on Disposal of Asset Held for Sale 出售持有待售的資產之收益 – 282 Surplus for the Year 本年度盈餘 1,434 684 Other Comprehensive Loss 其他綜合虧損 (7) (7) Total Comprehensive Income 綜合收益總額 1,427 677 The consolidated income for the year 2019-20 was $12,514 million, an increase of $1,844 million from last year. This was mainly due to increase in matching grant from the UGC as well as donations and benefactions received during the year. 總覽 二零一九╱二零年度是二零一九╱二二年撥款期的首年。 今年香港經歷了巨大的挑戰，既承受本地社會運動的困 擾，又面對新型冠狀病毒病全球大流行的脅迫。大學採取 了特殊的措施來維持安全和健康的校園環境。為保持社交 距離，在教學方面，大學採用了混合模式，提供在線及面 授兩種互動方法。 本機構致力提供世界級的教學與研究，並透過國際化、創 新性及跨範疇以作出影響。本年度本機構錄得合併財務結 算盈餘十四億二千七百萬元，明顯地受惠於政府的配對補 助金計劃，因而獲得社會慷慨支持。 本機構編製合併財務報表時，採納了由香港會計師公會頒 佈的相關和適用於本機構運作的若干新訂╱經修訂「香港 財務報告準則」及大學教育資助委員會（「教資會」）資助院 校適用的建議準則。 年度結算 截至二零二零年六月三十日止年度，本機構的合併結算概 述如下： 二零一九╱二零年度的合併收益合共為一百二十五億 一千四百萬元，比上年度增加十八億四千四百萬元，主要 是由於教資會配對補助以及外界捐助的增加。 Treasurer’s Report 司庫報告書 2020 Financial Report 二零二零財務報告 2 (Expressed in Hong Kong dollars) （以港幣列賬） 本年度的合併支出較去年增加約百分之八，合共為 一百一十億九千二百萬元（上年度為一百零二億七千九百 萬元），其中八十億五千六百萬元（上年度為七十五億零 四百萬元）用於本機構的各項教學及研究活動。 投資 今年金融市場極為波動，縱然如此，本機構繼續採取謹慎 守紀、多元化及長期持有等方針管理其投資項目，並錄得 總投資收益共五億三千三百萬元（上年度為五億二千萬元）。 以二零二零年六月三十日市值計算，本機構投資總值為 二百六十一億六千二百萬元（上年度為二百四十八億 二千七百萬元）。 科研補助金 教資會除了運用「整體撥款」資助基礎研究基建項目外， 教資會亦透過研究資助局（「研資局」）推出不同資助計劃， 提供指定補助金，讓首席研究員或院校透過競逐撥款方 式，爭取款項以支持研究。是年度大學獲得研資局的補助 金撥款合共三億元（上年度為三億零二百萬元）。 此外，教資會亦透過新推出的研究配對補助金計劃提供配 對補助金以供院校配對。本年度大學共收到二億三千九百 萬元（上年度不適用）並呈報在遞延收益內。 除了教資會的資助外，本機構還從不同的本地及非本地政 府機構和相關組織獲得用於研究用途的補助金。本年度合 共獲得二億八千三百萬元（上年度為二億八千六百萬元）， 在合併綜合收益表中以收益入賬。 捐助 合併綜合收益表中的捐助總數為十二億三千二百萬元（上 年度為四億四千二百萬元），其中八億三千七百萬元（上年 度為三億零八百萬元）用於研究，五千四百萬元（上年度為 一千三百萬元）用於校舍基建與改建、加建及改善工程等 項目，一億零二百萬元（上年度為五千二百萬元）用作獎學 金、助學金、獎金及貸款，以及二億三千九百萬元（上年 度為六千九百萬元）用於其他用途。 The consolidated expenditure increased by 8% to $11,092 million (2018-19: $10,279 million), of which $8,056 million (2018-19: $7,504 million) was expended on the Group’s teaching, learning and research activities. INVESTMENTS The financial market was highly volatile this year. Notwithstanding the market volatility, the Group continues to adopt a prudent, disciplined, diversified and long-term approach in managing its investments and achieved an overall investment profit of $533 million (2018-19: $520 million). Value of the Group’s investment as of 30 June 2020 was $26,162 million (2018-19: $24,827 million). RESEARCH GRANTS In addition to funding basic research infrastructure through the block grant, the UGC also provides earmarked grants via the Research Grants Council (“RGC”) under various funding schemes for bidding by individual principal investigators or institutions. A total of $300 million (2018-19: $302 million) of RGC grants was recognised as income by the University during the year. In addition, the University received a total of $239 million (2018-19: N/A), presented under deferred income from the UGC’s newly-launched Research Matching Grant Scheme. Other than the grants from UGC, the Group also received grants from various local and non-local government agencies and related organisations for research purposes. For the financial year 2019-20, $283 million (2018-19: $286 million) was recorded as income in the consolidated statement of comprehensive income. DONATIONS Donations totaling $1,232 million (2018-19: $442 million) were recorded as income in the consolidated statement of comprehensive income, of which $837 million (2018- 19: $308 million) was for research; $54 million (2018-19: $13 million) for capital building and alterations, additions and improvement projects; $102 million (2018-19: $52 million) for scholarships, bursaries, prizes and loans; and $239 million (2018-19: $69 million) for various other purposes.