Contents 目錄 The University of Hong Kong 香港大學 Treasurer’s Report 司庫報告書 1 2023 Financial Report 二零二三財務報告 Independent Auditor’s Report 獨立核數師報告 6 Consolidated Statement of Comprehensive Income 合併綜合收益表 10 Statement of Comprehensive Income 綜合收益表 11 Consolidated Statement of Financial Position 合併財務狀況表 12 Statement of Financial Position 財務狀況表 13 Consolidated Statement of Cash Flows 合併現金流量表 14 Consolidated Statement of Changes in Fund Balances 合併資金結餘變動報表 16 Notes to the Consolidated Financial Statements 合併財務報表附註 17
Treasurer’s Report 司庫報告書 (Expressed in Hong Kong dollars) （以港幣列賬） The University of Hong Kong 香港大學 1 OVERVIEW The financial year 2022-23 was the first year of the 2022-25 triennium. The Group demonstrated its commitment to provide worldclass education and research, and delivered impact through internationalisation, innovation and interdisciplinarity. 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 operation and comply with the Statement of Recommended Practice for the University Grants Committee (“UGC”) – Funded Institutions. During the financial year, the Group recorded a surplus of $1,961 million. Compared to the previous year, there was a reverse from deficit to surplus in 2022/23 as investment performance improved. RESULTS FOR THE YEAR The Group’s consolidated results for the year ended 30 June 2023 are summarised as follows: 2023 2022 $ million $ million 百萬元 百萬元 Income 收入 14,160 10,628 Expenditure 支出 (12,201) (11,610) Surplus/(Deficit) from Operations 營運盈餘╱（虧損） 1,959 (982) Share of Surplus of Joint Ventures and Associates 應佔合營企業及聯營公司盈餘 15 14 Surplus/(Deficit) for the Year 本年度盈餘╱（虧損） 1,974 (968) Other Comprehensive Loss 其他綜合虧損 (13) (11) Total Comprehensive Income/(Loss) 綜合收益╱（虧損）總額 1,961 (979) The consolidated income for the year 2022-23 was $14,160 million, an increase of $3,532 million from last year. This was mainly due to reverse from investment loss to gain earned during the year, as well as increase in subventions from the UGC and steady growth in tuition fees. The consolidated expenditure increased slightly by 5% to $12,201 million (2021-22: $11,610 million), of which $8,877 million (2021-22: $8,614 million) was expended on the Group’s teaching, learning and research activities. 總覽 二零二二╱二三年度是二零二二╱二五年撥款期的第 一年。 本機構致力提供世界級的教學與研究，並透過國際 化、創新及跨學科合作發揮其影響力。 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」，以及大學教育資助委員會 （「教資會」）資助院校適用的建議準則。 本機構於本年度錄得十九億六千一百萬元的盈餘，與 上一年相比，二零二二╱二三年度投資表現改善，得 以轉虧為盈。 年度結算 截至二零二三年六月三十日止年度，本機構的合併結 算概述如下： 二零二二╱二三年度的合併收益合共為一百四十一億六千 萬元，比上年度增加三十五億三千二百萬元，主要歸因於 投資轉虧為盈，以及教資會的補助撥款資助增加和學費穩 步上升。 本年度的合併支出較去年輕微增加約百分之五，合共為 一百二十二億零一百萬元（上年度為一百一十六億一千 萬元），其中八十八億七千七百萬元（上年度為 八十六億一千四百萬元）用於本機構的各項教學及研究活 動。
Treasurer’s Report 司庫報告書 (Expressed in Hong Kong dollars) （以港幣列賬） 2023 Financial Report 二零二三財務報告 2 INVESTMENTS In 2022-23, the Group achieved an overall investment gain of $456 million (2021-22: loss of $2,162 million). The Group’s investment performance had benefited from improvement in the global equity markets in general, although interest rates continued to climb and selective financial markets continued to be challenging. The Group remains committed to achieving the investment objectives of preserving purchasing power and growing the portfolio over the long-term. As of 30 June 2023, value of the Group’s investment as well as cash and bank deposits was $29,238 million (2021-22: $28,252 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 $393 million (2021-22: $321 million) of RGC grants was recognised as income by the University during the year. Moreover, the University’s research funding included those from the UGC’s Research Matching Grant Scheme and has been presented under deferred income. Other than the grants from the UGC, the Group also received grants from various local and non-local government agencies and related organisations for research purposes. For the financial year 2022-23, $316 million (2021-22: $311 million) was recorded as income in the consolidated statement of comprehensive income. DONATIONS Donations totaling $636 million (2021-22: $1,018 million) were recorded as income in the consolidated statement of comprehensive income, of which $487 million (2021-22: $501 million) was for research; $23 million (2021-22: $220 million) for capital building and alterations, additions and improvement projects; $71 million (2021-22: $56 million) for scholarships, bursaries, prizes and loans; and $55 million (2021-22: $241 million) for various other purposes. 投資 本機構錄得總投資收益共四億五千六百萬元（上年度虧 損為二十一億六千二百萬元）。儘管利率持續攀升，部 分金融市場仍然充滿挑戰，本機構的投資業績仍受惠 於全球股票市場總體回穩。本機構依然以保全購買力 及長期資產增值為投資目標。 以二零二三年六月三十日市值計算，本機構投資及現 金和銀行存款總值為二百九十二億三千八百萬元（上年 度為二百八十二億五千二百萬元）。 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，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。本年度大學獲得研 資局的補助金撥款合共三億九千三百萬元（上年度為 三億二千一百萬元）。 此外，大學的研究撥款亦包括從教資會研究配對補助 金計劃所獲之配對補助金，此撥款亦呈報在遞延收益 內。 除了教資會的資助外，本機構亦從不同的本地及非本 地政府機構和相關組織獲得研究用途補助金。本年度 合共獲得三億一千六百萬元（上年度為三億一千一百萬 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六億三千六百萬元 （上年度為十億一千八百萬元），其中四億八千七百萬 元（上年度為五億零一百萬元）用於研究；二千三百萬 元（上年度為二億二千萬元）用於校舍基建與改建、 加建及改善工程等項目；七千一百萬元（上年度為 五千六百萬元）用作獎學金、助學金、獎金及貸款；以 及五千五百萬元（上年度為二億四千一百萬元）用於其 他用途。
Treasurer’s Report 司庫報告書 (Expressed in Hong Kong dollars) （以港幣列賬） The University of Hong Kong 香港大學 3 CAPITAL BUILDING AND ALTERATIONS, ADDITIONS AND IMPROVEMENT PROJECTS For capital building and alterations, additions and improvement projects, income of $300 million (2021-22: $418 million) was recorded in 2022-23, comprising government subvention of $277 million (2021-22: $198 million) and donations of $23 million (202122: $220 million). A total related expenditure of $2,004 million was incurred (2021-22: $1,626 million), of which $1,806 million (202122: $1,466 million) was spent on capital projects and capitalised as construction-in-progress, leasehold improvements or finished buildings. The remaining $198 million (2021-22: $160 million) spent on improvement works was included as operating expense for the year. The University has always strived to advance campus development plans to alleviate the shortage of spaces for teaching, research and accommodation at the University. The new Academic Building at No. 3 Sassoon Road has come into operation since June 2022, providing classrooms, lecture theatres, laboratories, student amenities, offices and supporting facilities. The enhancement of technology-enabled teaching facilities and development of the medical campus on Sassoon Road will gradually be completed in 2023 and 2024 to cope with the increase of healthcare-related students and the rising need for research and teaching facilities. A 250-place hostel at Mui Fong Street, Sai Ying Pun, has been in operation since mid 2022 whereas two other new hostels will be completed in 2023 and 2024 respectively. These hostel projects, supported by both donations and the Hostel Development Fund of the UGC, will provide a total of 2,400 student resident places. The Tech Landmark on University Drive will serve as the new hub for research, technology as well as innovation. The iconic new stateof-the-art academic, cultural and sport facilities complex at the Pokfield Road site will include the Business School, a residential complex as well as learning spaces and conference facilities, and will be completed in stages in the few years ahead. The University is planning to fund the construction costs under some of its major capital projects by means of mainly external borrowing supplemented by internal resources. Future repayment of the external borrowing will be financed by income streams to be contributed by the capital projects. Apart from the capital projects, the University is also undertaking a number of physical alterations, additions and improvement projects, including laboratory enhancement and upgrading of various buildings, and provision of interactive classrooms and learning spaces. 校舍基建與改建、加建及改善工程 本年度用作發展校舍基建與改建、加建及改善等工程 項目的入賬收益合共三億元（上年度為四億一千八百 萬元），當中包括政府資助金共二億七千七百萬元（上 年度為一億九千八百萬元）及捐助款項共二千三百 萬元（上年度為二億二千萬元）。相關支出方面， 本年度的支出總額為二十億零四百萬元（上年度為 十六億二千六百萬元），其中十八億零六百萬元（上 年度為十四億六千六百萬元）用於校舍基建項目，以 在建工程、租賃物業裝修或已完成校舍入賬，其餘 一億九千八百萬元（上年度為一億六千萬元）則用於改 善工程項目，並以營運費用入賬。 大學一直致力改善校園的發展規劃，以應付大學在教 學、科研及住宿等方面的需求。 坐落於沙宣道三號的醫學院新學術大樓已於二零二二 年六月落成，提供課室、演講廳、實驗室、學生設 施、辦公室和配套設施。沙宣道醫學院校舍配備可配 合科技應用的教學設施，將逐步於二零二三年及二 零二四年竣工，以應對醫療相關學科學生人數的增 加，以及對研究和教學設施與日俱增的需求。位於 西營盤梅芳街的一幢設有二百五十個宿位的宿舍已於 二零二二年年中啟用，而另外兩所新宿舍將分別於二 零二三年及二零二四年落成。由捐助及教資會撥款成 立的宿舍發展基金共同資助的宿舍項目，將提供共 二千四百個學生宿位。 位於大學道的Tech Landmark科創新地標項目將成 為研究、科技和創新的新樞紐。蒲飛路校園集先進學 術、文化和體育設施於一身，內有港大經管學院、教 職員住宿設施、學習空間、會議設施等，將在未來幾 年分階段落成。 大學計劃主要透過外部借款，輔以內部資源，為部分 重點基礎建設項目的建築費用提供資金。從基礎建設 項目中所得的收入流將於日後用作償還外部借款。 除了校舍基建項目，大學正進行一系列改建、加建及 改善工程項目，包括優化各學術大樓的實驗室，以及 提供互動教室及學習空間。
Treasurer’s Report 司庫報告書 (Expressed in Hong Kong dollars) （以港幣列賬） 2023 Financial Report 二零二三財務報告 4 HKU SCHOOL OF PROFESSIONAL AND CONTINUING EDUCATION The School’s total (part-time and full-time) enrolment increased in 2022-23, with 103,320 students enrolled on courses compared to 93,208 in 2021-22. Full-time enrolments continued to grow, and so did part-time enrolments, particularly in short, professional and executive courses. A total comprehensive income of $76 million was recorded (202122: total comprehensive loss of $4 million). With its vision of seeking to excel in quality education and become a leading lifelong learning provider in the region, the School continues to invest in the development of new programmes as well as the improvement of learning and other facilities across its teaching centres. The Community Colleges of the School, including HKU SPACE Po Leung Kuk Stanley Ho Community College, jointly established with Po Leung Kuk in 2006, offer a range of full-time sub-degree programmes and have achieved consistent success in student recruitment despite the drop in the secondary school leaving population. The 2022/23 academic year was characterised by fewer disruptions due to COVID-19. Strong enrolments (both full-time and part-time) in the early part of the year carried the School through to a sound financial performance. 香港大學專業進修學院 本年度報讀學院課程的學生總數（包括兼讀制及全 日制）為十萬零三千三百二十人次（上年度為九萬 三千二百零八人次）。報讀全日制及兼讀制的學生人數 持續增加，特別是短期、專業及行政兼讀制課程。 本年度總綜合收益為七千六百萬元（上年度總綜合虧損 為四百萬元）。 學院致力為香港和鄰近地區提供優質的持續進修教學 服務，會繼續投放資源拓展新課程和改善學院各教學 中心的教學及其他設施。 學院轄下附屬學院包括於二零零六年與保良局合作開 辦的香港大學專業進修學院保良局何鴻燊社區書院， 提供一系列的全日制副學士課程，儘管面對中學畢業 生數目減少，仍能成功吸納學生就讀。 在二零二二╱二三學年，學院雖略受新型冠狀病毒病 影響，但本學年初段的收生情況（包括兼讀制及全日 制）理想，因此在營運上的財政表現依然良好。
Treasurer’s Report 司庫報告書 (Expressed in Hong Kong dollars) （以港幣列賬） The University of Hong Kong 香港大學 5 FINANCIAL OUTLOOK As the financial year 2022-23 ends, the University has entered into the second year of the triennium of 2022-25. The University continues its strong commitment to intellectual freedom, liberty and diversity. For the pursuit of the University’s education mission, the University will continue to invest in human resources, infrastructure and technology upgrades in order to bring high calibre professors and attract top-scoring students. The University will remain prudent and yet flexible in financial management and will continue to ride on its successes to take it to the next level and fulfilling its aspiration to be Asia’s leading global university. Margaret Leung Treasurer Hong Kong, 26 September 2023 財政展望 隨著二零二二╱二三年度結束，大學亦已步入二零 二二╱二五年三年撥款期的第二年。大學將秉持一貫 以學術自主、自由及多元化原則辦學。 為實現大學的教育使命，大學將繼續投資於人力資 源、基礎設施和技術提升，從而吸引優秀的教授和頂 尖的學生。 大學將在財務管理上秉承穩健及靈活的方針，繼往開 來，以達成我們作為「矗立亞洲、領先全球」的大學這 願景。 梁高美懿 司庫 二零二三年九月二十六日 香港
2023 Financial Report 二零二三財務報告 6 Independent Auditor’s Report to the Council of The University of Hong Kong 獨立核數師報告 致香港大學校務委員會 PricewaterhouseCoopers, 22/F Prince's Building, Central, Hong Kong T: +852 2289 8888, F: +852 2810 9888, www.pwchk.com OPINION What we have audited The consolidated financial statements of The University of Hong Kong (the “University”) and its subsidiaries (together, the “Group”) set out on pages 10 to 113, which comprise: • the consolidated and University statements of financial position as at 30 June 2023; • the consolidated and University statements of comprehensive income for the year then ended; • the consolidated statement of cash flows for the year then ended; • the consolidated statement of changes in fund balances for the year then ended; and • the notes to the consolidated financial statements, which include significant accounting policies and other explanatory information. Our opinion In our opinion, the consolidated financial statements give a true and fair view of the financial position of the University and the consolidated financial position of the Group as at 30 June 2023, and of the financial performance of the University and the consolidated financial performance of the Group and the consolidated cash flows of the Group for the year then ended in accordance with Hong Kong Financial Reporting Standards (“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”). BASIS FOR OPINION We conducted our audit in accordance with Hong Kong Standards on Auditing (“HKSAs”) issued by the HKICPA. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Independence We are independent of the Group in accordance with the HKICPA’s Code of Ethics for Professional Accountants (“the Code”), and we have fulfilled our other ethical responsibilities in accordance with the Code. 意見 我們已審計的內容 香港大學（以下簡稱「大學」）及其附屬公司（以下統稱 「機構」）列載於第十至一百一十三頁的合併財務報表， 包括： • 於二零二三年六月三十日的合併及大學財務狀況 表； • 截至該日止年度的合併及大學綜合收益表； • 截至該日止年度的合併現金流量表； • 截至該日止年度的合併資金結餘變動報表；及 • 合併財務報表附註，包括主要會計政策概要。 我們的意見 我們認為，該等合併財務報表已根據香港會計師公會 頒布的《香港財務報告準則》真實而中肯地反映了於二 零二三年六月三十日大學的財務狀況及機構的合併財 務狀況、截至該日止年度大學的財務表現及機構的合 併財務表現、以及機構的合併現金流量。 意見的基礎 我們已根據香港會計師公會頒布的《香港審計準則》進 行審計。我們在該等準則下承擔的責任已在本報告「核 數師就審計合併財務報表承擔的責任」部分中作進一步 闡述。 我們相信，我們所獲得的審計憑證能充足及適當地為 我們的審計意見提供基礎。 獨立性 根據香港會計師公會頒布的《專業會計師道德守則》（以 下簡稱「守則」），我們獨立於機構，並已履行守則中的 其他專業道德責任。
The University of Hong Kong 香港大學 7 Independent Auditor’s Report to the Council of The University of Hong Kong 獨立核數師報告 致香港大學校務委員會 OTHER INFORMATION The Council of the University is responsible for the other information. The other information comprises the information included in the Treasurer’s Report, but does not include the consolidated financial statements and our auditor’s report thereon. Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. RESPONSIBILITIES OF THE COUNCIL AND THE AUDIT COMMITTEE OF THE UNIVERSITY FOR THE CONSOLIDATED FINANCIAL STATEMENTS The Council of the University is responsible for the preparation of the consolidated financial statements that give a true and fair view in accordance with HKFRSs issued by the HKICPA, and for such internal control as the Council of the University determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. In preparing the consolidated financial statements, the Council of the University is responsible for assessing the Group’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Council of the University either intends to liquidate the Group or to cease operations, or has no realistic alternative but to do so. The Audit Committee of the University is responsible for overseeing the Group’s financial reporting process. 其他信息 大學校務委員會須對其他信息負責。其他信息包括司 庫報告書內的信息，但不包括合併財務報表及我們的 核數師報告。 我們對合併財務報表的意見並不涵蓋其他信息，我們 亦不對該等其他信息發表任何形式的鑒證結論。 結合我們對合併財務報表的審計，我們的責任是閱讀 其他信息，在此過程中，考慮其他信息是否與合併財 務報表或我們在審計過程中所了解的情況存在重大抵 觸或者似乎存在重大錯誤陳述的情況。 基於我們已執行的工作，如果我們認為其他信息存在 重大錯誤陳述，我們需要報告該事實。在這方面，我 們沒有任何報告。 大學校務委員會及大學審核委員會就合併 財務報表須承擔的責任 大學校務委員會須負責根據香港會計師公會頒布的《香 港財務報告準則》擬備真實而中肯的合併財務報表，並 對其認為為使合併財務報表的擬備不存在由於欺詐或 錯誤而導致的重大錯誤陳述所需的內部控制負責。 在擬備合併財務報表時，大學校務委員會負責評估機 構持續經營的能力，並在適用情況下披露與持續經營 有關的事項，以及使用持續經營為會計基礎，除非大 學校務委員會有意將機構清盤或停止經營，或別無其 他實際的替代方案。 大學審核委員會須負責監督機構的財務報告過程。
2023 Financial Report 二零二三財務報告 8 Independent Auditor’s Report to the Council of The University of Hong Kong 獨立核數師報告 致香港大學校務委員會 AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. We report our opinion solely to you, as a body, in accordance with the Statutes of the University, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with HKSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements. As part of an audit in accordance with HKSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group’s internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Council of the University. 核數師就審計合併財務報表承擔的責任 我們的目標，是對合併財務報表整體是否不存在由於 欺詐或錯誤而導致的重大錯誤陳述取得合理保證，並 出具包括我們意見的核數師報告。我們僅按照香港大 學之規程向大學校務委員會（作為整體）報告我們的意 見，除此之外本報告別無其他目的。我們不會就本報 告的內容向任何其他人士負上或承擔任何責任。合理 保證是高水平的保證，但不能保證按照《香港審計準 則》進行的審計，在某一重大錯誤陳述存在時總能發 現。錯誤陳述可以由欺詐或錯誤引起，如果合理預期 它們單獨或滙總起來可能影響合併財務報表使用者依 賴合併財務報表所作出的經濟決定，則有關的錯誤陳 述可被視作重大。 在根據《香港審計準則》進行審計的過程中，我們運用 了專業判斷，保持了專業懷疑態度。我們亦： • 識別和評估由於欺詐或錯誤而導致合併財務報表 存在重大錯誤陳述的風險，設計及執行審計程序 以應對這些風險，以及獲取充足和適當的審計憑 證，作為我們意見的基礎。由於欺詐可能涉及串 謀、偽造、蓄意遺漏、虛假陳述，或凌駕於內部 控制之上，因此未能發現因欺詐而導致的重大錯 誤陳述的風險高於未能發現因錯誤而導致的重大 錯誤陳述的風險。 • 了解與審計相關的內部控制，以設計適當的審計 程序，但目的並非對機構內部控制的有效性發表 意見。 • 評價大學校務委員會所採用會計政策的恰當性及 作出會計估計和相關披露的合理性。
The University of Hong Kong 香港大學 9 Independent Auditor’s Report to the Council of The University of Hong Kong 獨立核數師報告 致香港大學校務委員會 AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS – Cont’d • Conclude on the appropriateness of the Council of the University’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation. • Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. We communicate with the Audit Committee of the University regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. PricewaterhouseCoopers Certified Public Accountants Hong Kong, 26 September 2023 核數師就審計合併財務報表承擔的責任－續 • 對大學校務委員會採用持續經營會計基礎的恰當 性作出結論。根據所獲取的審計憑證，確定是否 存在與事項或情況有關的重大不確定性，從而可 能導致對機構的持續經營能力產生重大疑慮。如 果我們認為存在重大不確定性，則有必要在核數 師報告中提請使用者注意合併財務報表中的相關 披露。假若有關的披露不足，則我們應當發表非 無保留意見。我們的結論是基於核數師報告日止 所取得的審計憑證。然而，未來事項或情況可能 導致機構不能持續經營。 • 評價合併財務報表的整體列報方式、結構和內 容，包括披露，以及合併財務報表是否中肯反映 交易和事項。 • 就機構內實體或業務活動的財務信息獲取充足、 適當的審計憑證，以便對合併財務報表發表意 見。我們負責機構審計的方向、監督和執行。我 們為審計意見承擔全部責任。 除其他事項外，我們與大學審核委員會溝通了計劃的 審計範圍、時間安排、重大審計發現等，包括我們在 審計中識別出內部控制的任何重大缺陷。 羅兵咸永道會計師事務所 執業會計師 香港，二零二三年九月二十六日
2023 Financial Report 二零二三財務報告 10 Consolidated Statement of Comprehensive Income 合併綜合收益表 For the year ended 30 June 2023 截至二零二三年六月三十日止年度 (Expressed in thousands of Hong Kong dollars) （以港幣千元列賬） Note 附註 2023 2022 Revenue 收益 Government Subventions 政府補助撥款 2 6,572,361 6,164,559 Tuition, Programmes and Other Fees 學費、課程及其他收費 3 4,813,732 4,114,089 Donations and Benefactions 外界捐助 4 636,242 1,017,597 Auxiliary Services 輔助設施 5 359,105 351,039 Interest and Investment Gain/(Loss), Net 淨利息及投資 收益╱（虧損） 6 456,007 (2,161,783) Other Income, Net 淨其他收益 7 1,322,727 1,142,769 14,160,174 10,628,270 Expenditure 支出 8 Teaching, Learning and Research 學習及科研 Teaching and Research 教學及科研 7,939,736 7,678,155 Library 圖書館 201,709 210,428 Central Computing Facilities 中央計算設施 237,050 227,698 Other Academic Services 其他教學設施 498,737 497,635 Institutional Support 教學支持 Management and General 管理及一般項目 608,902 569,612 Premises and Related Expenses 校舍及有關開支 1,786,947 1,468,355 Student and General Education Services 學生及一般教育設施 686,312 690,154 Other Activities 其他活動 241,848 268,554 12,201,241 11,610,591 Surplus/(Deficit) for the Year before Share of a Joint Venture and Associates 應佔合營企業及聯營公司前 之本年度盈餘╱（虧損） 1,958,933 (982,321) Share of Surplus of a Joint Venture 應佔合營企業盈餘 17 15,392 14,520 Share of Deficit of Associates 應佔聯營公司虧損 – (348) Surplus/(Deficit) for the Year 本年度盈餘╱（虧損） 1,974,325 (968,149) Other Comprehensive Loss 其他綜合虧損 Items that may be recognised in the Consolidated Statement of Comprehensive Income 其後或確認於合併綜合 收益表的項目 Exchange Differences 匯兌調整 (11,900) (4,364) Share of other comprehensive loss of a Joint Venture 應佔合營企業其他 綜合虧損 17 (803) (1,201) Items that will not be recognised subsequently in the Consolidated Statement of Comprehensive Income 其後不會於合併綜合 收益表確認的項目 Re-measurement of defined benefit retirement scheme assets 界定退休金計劃資產重估 22 (431) (5,185) (13,134) (10,750) Total Comprehensive Income/(Loss) for the Year 本年度總綜合收益╱（虧損） 1,961,191 (978,899) Attributable to: 歸屬於： UGC Funds 教資會資金 458,169 88,882 Restricted Funds 限制性資金 (236,896) (960,997) Other Funds 其他資金 1,739,918 (106,784) 1,961,191 (978,899)
The University of Hong Kong 香港大學 11 Statement of Comprehensive Income 綜合收益表 For the year ended 30 June 2023 截至二零二三年六月三十日止年度 (Expressed in thousands of Hong Kong dollars) （以港幣千元列賬） Note 附註 2023 2022 Revenue 收益 Government Subventions 政府補助撥款 2 6,516,676 6,103,840 Tuition, Programmes and Other Fees 學費、課程及其他收費 3 3,730,171 3,084,553 Donations and Benefactions 外界捐助 4 632,237 1,013,129 Auxiliary Services 輔助設施 5 374,117 368,327 Interest and Investment Gain/(Loss), Net 淨利息及投資收益╱（虧損） 6 452,806 (2,098,868) Other Income, Net 淨其他收益 7 1,258,156 1,095,940 12,964,163 9,566,921 Expenditure 支出 8 Teaching, Learning and Research 學習及科研 Teaching and Research 教學及科研 7,583,583 7,313,184 Library 圖書館 201,862 211,658 Central Computing Facilities 中央計算設施 179,267 170,351 Other Academic Services 其他教學設施 257,877 254,494 Institutional Support 教學支持 Management and General 管理及一般項目 357,396 344,335 Premises and Related Expenses 校舍及有關開支 1,580,946 1,291,350 Student and General Education Services 學生及一般教育設施 661,630 670,471 Other Activities 其他活動 206,618 241,951 11,029,179 10,497,794 Surplus/(Deficit) for the Year 本年度盈餘╱（虧損） 1,934,984 (930,873) Other Comprehensive Loss 其他綜合虧損 Item that will not be recognised subsequently in the Statement of Comprehensive Income 其後不會於綜合收益表確認的 項目 Re-measurement of defined benefit retirement scheme assets 界定退休金計劃資產重估 22 (431) (5,185) Total Comprehensive Income/(Loss) for the Year 本年度總綜合收益╱（虧損） 1,934,553 (936,058) Attributable to: 歸屬於： UGC Funds 教資會資金 458,169 88,900 Restricted Funds 限制性資金 (236,896) (960,997) Other Funds 其他資金 1,713,280 (63,961) 1,934,553 (936,058)
2023 Financial Report 二零二三財務報告 12 Consolidated Statement of Financial Position 合併財務狀況表 As at 30 June 2023 二零二三年六月三十日 (Expressed in thousands of Hong Kong dollars) （以港幣千元列賬） Note 附註 30 June 2023 30 June 2022 ASSETS 資產 Non-Current Assets 非流動資產 Property, Plant and Equipment 物業、機器及設備 12 11,899,181 10,264,655 Right-of-use Assets 使用權資產 13 2,085,525 2,135,476 Intangible Assets 無形資產 14 12,256 11,344 Interests in Associates 聯營公司之投資 16 – – Interests in a Joint Venture 合營企業之投資 17 305,527 290,938 Financial Investments at Amortised Cost 以攤銷成本列賬的財務投資 18 1,037,138 1,451,294 Financial Assets at Fair Value through Profit or Loss 按公平值計入損益賬的財務資產 19 13,790,225 15,615,862 Loans Receivable and Assets Classified as Held for Sale 應收貸款及持有待售的資產 20 2,802 2,957 Accounts Receivable, Prepayments and Deposits 應收賬項、預付款及押金 21 1,002,885 794,953 Defined Benefit Retirement Scheme Assets 界定退休金計劃資產 22 14,665 14,801 30,150,204 30,582,280 Current Assets 流動資產 Financial Investments at Amortised Cost 以攤銷成本列賬的財務投資 18 367,776 503,591 Financial Assets at Fair Value through Profit or Loss 按公平值計入損益賬的財務資產 19 740,204 268,842 Loans Receivable and Assets Classified as Held for Sale 應收貸款及持有待售的資產 20 84,943 107,190 Inventories 存貨 2,320 3,014 Accounts Receivable, Prepayments and Deposits 應收賬項、預付款及押金 21 1,906,172 1,489,462 Amount due from a Joint Venture 合營企業之應收款項 17 5,360 16,936 Bank Deposits with Original Maturity over Three Months 原到期日超過三個月的銀行存款 11,554,796 8,147,451 Cash and Cash Equivalents 現金及等同現金 23 1,748,068 2,264,926 16,409,639 12,801,412 TOTAL ASSETS 總資產 46,559,843 43,383,692 FUNDS 資金 UGC Funds 教資會資金 9 2,794,904 2,383,799 Restricted Funds 限制性資金 10 10,846,015 10,355,117 Other Funds 其他資金 11 18,302,314 17,243,126 TOTAL FUNDS 總資金 31,943,233 29,982,042 LIABILITIES 負債 Non-Current Liabilities 非流動負債 Accounts Payable and Accruals 應付賬項及應計項目 24 170,643 94,406 Employee Benefit Accruals 僱員福利應計項目 25 16,234 24,209 Loans and Borrowings 貸款及借款 26 95,008 95,008 Lease Liabilities 租賃負債 13 224,683 290,348 Deferred Capital Funds 遞延資本基金 28 6,657,820 4,514,788 7,164,388 5,018,759 Current Liabilities 流動負債 Accounts Payable and Accruals 應付賬項及應計項目 24 3,594,484 3,956,541 Employee Benefit Accruals 僱員福利應計項目 25 773,927 859,164 Loans and Borrowings 貸款及借款 26 50,310 60,270 Lease Liabilities 租賃負債 13 109,109 97,804 Deferred Income 遞延收益 27 2,924,392 3,409,112 7,452,222 8,382,891 TOTAL LIABILITIES 總負債 14,616,610 13,401,650 TOTAL FUNDS AND LIABILITIES 總資金及負債 46,559,843 43,383,692 NET CURRENT ASSETS 流動資產淨額 8,957,417 4,418,521 TOTAL ASSETS LESS CURRENT LIABILITIES 總資產減流動負債 39,107,621 35,000,801 The consolidated financial statements on pages 10 to 113 were approved by the Council on 26 September 2023. 香港大學校務委員會於二零二三年九月二十六日核准列載於第十至一百一十三頁的合併財務報表。
The University of Hong Kong 香港大學 13 Statement of Financial Position 財務狀況表 As at 30 June 2023 二零二三年六月三十日 The consolidated financial statements on pages 10 to 113 were approved by the Council on 26 September 2023. 香港大學校務委員會於二零二三年九月二十六日核准列載於第十至一百一十三頁的合併財務報表。 (Expressed in thousands of Hong Kong dollars) （以港幣千元列賬） Note 附註 30 June 2023 30 June 2022 ASSETS 資產 Non-Current Assets 非流動資產 Property, Plant and Equipment 物業、機器及設備 12 11,391,847 9,815,790 Right-of-use Assets 使用權資產 13 1,433,911 1,455,831 Intangible Assets 無形資產 14 10,530 10,772 Investments in Subsidiaries 附屬公司投資 15 38,002 49,163 Financial Investments at Amortised Cost 以攤銷成本列賬的財務投資 18 1,035,587 1,449,748 Financial Assets at Fair Value through Profit or Loss 按公平值計入損益賬的財務資產 19 13,775,551 15,582,117 Loans Receivable and Assets Classified as Held for Sale 應收貸款及持有待售的資產 20 212,726 208,764 Accounts Receivable, Prepayments and Deposits 應收賬項、預付款及押金 21 989,033 785,387 Defined Benefit Retirement Scheme Assets 界定退休金計劃資產 22 14,665 14,801 28,901,852 29,372,373 Current Assets 流動資產 Financial Investments at Amortised Cost 以攤銷成本列賬的財務投資 18 367,776 503,591 Financial Assets at Fair Value through Profit or Loss 按公平值計入損益賬的財務資產 19 475,212 – Loans Receivable and Assets Classified as Held for Sale 應收貸款及持有待售的資產 20 84,943 105,638 Inventories 存貨 1,969 1,873 Accounts Receivable, Prepayments and Deposits 應收賬項、預付款及押金 21 1,833,274 1,484,761 Bank Deposits with Original Maturity over Three Months 原到期日超過三個月的銀行存款 11,092,024 7,844,755 Cash and Cash Equivalents 現金及等同現金 23 1,446,951 1,725,153 15,302,149 11,665,771 TOTAL ASSETS 總資產 44,204,001 41,038,144 FUNDS 資金 UGC Funds 教資會資金 9 2,794,904 2,383,799 Restricted Funds 限制性資金 10 10,846,015 10,355,117 Other Funds 其他資金 11 16,857,580 15,825,030 TOTAL FUNDS 總資金 30,498,499 28,563,946 LIABILITIES 負債 Non-Current Liabilities 非流動負債 Accounts Payable and Accruals 應付賬項及應計項目 24 167,379 94,277 Employee Benefit Accruals 僱員福利應計項目 25 16,234 24,209 Loans and Borrowings 貸款及借款 26 95,008 95,008 Lease Liabilities 租賃負債 13 42,165 53,601 Deferred Capital Funds 遞延資本基金 28 6,649,694 4,502,197 6,970,480 4,769,292 Current Liabilities 流動負債 Accounts Payable and Accruals 應付賬項及應計項目 24 3,156,789 3,532,599 Employee Benefit Accruals 僱員福利應計項目 25 715,511 793,530 Loans and Borrowings 貸款及借款 26 50,310 60,270 Lease Liabilities 租賃負債 13 58,730 48,283 Deferred Income 遞延收益 27 2,753,682 3,270,224 6,735,022 7,704,906 TOTAL LIABILITIES 總負債 13,705,502 12,474,198 TOTAL FUNDS AND LIABILITIES 總資金及負債 44,204,001 41,038,144 NET CURRENT ASSETS 流動資產淨額 8,567,127 3,960,865 TOTAL ASSETS LESS CURRENT LIABILITIES 總資產減流動負債 37,468,979 33,333,238
2023 Financial Report 二零二三財務報告 14 Consolidated Statement of Cash Flows 合併現金流量表 For the year ended 30 June 2023 截至二零二三年六月三十日止年度 (Expressed in thousands of Hong Kong dollars) （以港幣千元列賬） 2023 2022 Cash Flows from Operating Activities 營運活動之現金流量 Surplus/(Deficit) for the Year 本年度盈餘╱（虧損） 1,974,325 (968,149) Adjustments for: 調整以下項目： Depreciation of Property, Plant and Equipment 物業、機器及設備之折舊 598,332 522,611 Depreciation of Right-of-use Assets 使用權資產之折舊 153,096 140,673 Loss on Disposal of Property, Plant and Equipment 出售物業、機器及設備之虧損 5,567 680 Loss on Disposal of a Joint Venture 出售聯營公司之虧損 – 646 Amortisation of Intangible Assets 無形資產之攤銷 4,561 2,272 Gain on Disposal of Assets Classified as Held for Sale 出售持有待售的資產之收益 (7,826) – Share of Deficit of Associates 應佔聯營公司虧損 – 348 Share of Surplus of a Joint Venture 應佔合營企業盈餘 (15,392) (14,520) Interest Expenses on Lease Liabilities 租賃負債的利息支出 13,817 9,413 Pension (Income)/Cost, Net – Defined Benefit Plans 淨退休金（收益）╱成本－ 界定福利計劃 (295) 245 Interest and Investment (Gain)/Loss 利息及投資（收益）╱虧損 (456,007) 2,161,783 Transfers from Deferred Capital Funds 轉撥自遞延資本基金 (138,503) (108,265) Operating Surplus before Working Capital Changes 未計算營運資金變動前之經營盈餘 2,131,675 1,747,737 Decrease in Amount Due from a Joint Venture 應收合營企業款項之減少 11,576 2,774 Decrease in Amount Due to a Joint Venture 應付合營企業款項之減少 – (2,040) Decrease in Staff Loans Receivable 教職員貸款之減少 16,695 11,815 Decrease in Student Loans Receivable 學生貸款之減少 155 214 Decrease/(Increase) in Inventories 存貨之減少╱（增加） 694 (788) Increase in Accounts Receivable, Prepayments and Deposits 應收賬項、預付款及押金之增加 (624,642) (297,093) Increase in Accounts Payable and Accruals 應付賬項及應計項目之增加 815,276 352,007 Decrease in Employee Benefit Accruals 僱員福利應計項目之減少 (93,212) (47,909) Decrease in Deferred Income 遞延收益之減少 (472,903) (104,352) Cash Generated from Operations 營運產生之現金 1,785,314 1,662,365 Loan Interest Income Received 已收取之貸款利息收益 1,159 1,205 Net Cash Generated from Operating Activities 營運活動之淨現金流入 1,786,473 1,663,570
The University of Hong Kong 香港大學 15 Consolidated Statement of Cash Flows 合併現金流量表 For the year ended 30 June 2023 截至二零二三年六月三十日止年度 (Expressed in thousands of Hong Kong dollars) （以港幣千元列賬） 2023 2022 Cash Flows from Investing Activities 投資活動之現金流量 Purchase of Property, Plant and Equipment and Right of Use Assets 購置物業、機器、設備及 使用權資產 (2,292,187) (2,041,069) Proceeds from Sale of Property, Plant and Equipment 出售物業、機器及設備所得款項 536 533 Acquisition of Intangible Assets 添置無形資產 (5,479) (4,412) Purchase of Investments 購買投資 (22,108,816) (21,110,539) Proceeds from Disposals of Investments 出售投資所得款項 23,679,950 21,007,117 Proceeds from Disposal of Assets Classified as Held for Sale 出售持有待售的資產所得款項 13,378 – Increase in Bank Deposits 銀行存款之增加 (3,411,680) (1,513,221) Interest and Investment Income Received 已收取之利息及投資收益 788,652 407,182 Net Cash Used in Investing Activities 投資活動之淨現金流出 (3,335,646) (3,254,409) Cash Flows from Financing Activities (Note 32) 融資活動之現金流量（附註32） Proceeds from Unsecured Bank Loans 無抵押銀行貸款之所得款項 3,780 4,110 Repayment of Unsecured Bank Loans 無抵押銀行貸款之還款 (13,740) (11,040) Principal and Interest of Lease Payments Paid 已付租賃負債之還款部份 (101,140) (102,630) Subventions, Grants and Donations Received for Acquisition of Property, Plant and Equipment 用以購買物業、機器及設備之 補助撥款、補助金及捐助 1,181,489 1,022,962 Net Cash Generated from Financing Activities 融資活動之淨現金流入 1,070,389 913,402 Net Decrease in Cash and Cash Equivalents 現金及等同現金之淨減少 (478,784) (677,437) Changes in Exchange Rates 匯率變動之影響 (38,074) (12,091) Cash and Cash Equivalents at the Beginning of the Year 年初現金及等同現金 2,264,926 2,954,454 Cash and Cash Equivalents at the End of the Year (Note 23) 年末現金及等同現金（附註23） 1,748,068 2,264,926
2023 Financial Report 二零二三財務報告 16 Consolidated Statement of Changes in Fund Balances 合併資金結餘變動報表 As at 30 June 2023 二零二三年六月三十日 (Expressed in thousands of Hong Kong dollars) （以港幣千元列賬） UGC Funds Restricted Funds Other Funds Total 教資會資金 限制性資金 其他資金 總額 (Note 9) (Note 10) (Note 11) （附註9） （附註10） （附註11） At 1 July 2021 於二零二一年七月一日 2,342,953 10,820,469 17,797,519 30,960,941 (Deficit)/Surplus for the Year 本年度（虧損）╱盈餘 94,067 (960,997) (101,219) (968,149) Other Comprehensive Income 其他綜合收益 Exchange differences 匯兌調整 – – (4,364) (4,364) Share of other comprehensive loss of a Joint Venture 應佔合營企業其他綜合盈餘 – – (1,201) (1,201) Re-measurement of defined benefit retirement scheme assets 界定退休金計劃資產重估 (5,185) – – (5,185) Total Comprehensive (Loss)/Income for the Year 本年度總綜合（虧損）╱收益 88,882 (960,997) (106,784) (978,899) Inter-Fund Transfers 資金間之轉賬 (48,036) 495,645 (447,609) – At 30 June 2022 於二零二二年六月三十日 2,383,799 10,355,117 17,243,126 29,982,042 At 1 July 2022 於二零二二年七月一日 2,383,799 10,355,117 17,243,126 29,982,042 Surplus/(Deficit) for the Year 本年度盈餘╱（虧損） 458,600 (236,896) 1,752,621 1,974,325 Other Comprehensive Income 其他綜合收益 Exchange differences 匯兌調整 – – (11,900) (11,900) Share of other comprehensive loss of a Joint Venture 應佔合營企業其他綜合虧損 – – (803) (803) Re-measurement of defined benefit retirement scheme assets 界定退休金計劃資產重估 (431) – – (431) Total Comprehensive Income/(Loss) for the Year 本年度總綜合收益╱（虧損） 458,169 (236,896) 1,739,918 1,961,191 Inter-Fund Transfers 資金間之轉賬 (47,064) 727,794 (680,730) – At 30 June 2023 於二零二三年六月三十日 2,794,904 10,846,015 18,302,314 31,943,233
Notes to the Consolidated Financial Statements 合併財務報表附註 The University of Hong Kong 香港大學 17 GENERAL The University of Hong Kong is incorporated under the University of Hong Kong Ordinance (Chap. 1053, Laws of Hong Kong) and is Hong Kong’s oldest tertiary education institution. 1. PRINCIPAL ACCOUNTING POLICIES The principal accounting policies applied in the preparation of the consolidated financial statements of the University and its subsidiaries (together, the “Group”) are set out below. These policies have been consistently applied to all years presented, unless otherwise stated. (a) Basis of Preparation The consolidated financial statements of the Group have been prepared in accordance with Hong Kong Financial Reporting Standards (“HKFRS”) issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and comply with the Statement of Recommended Practice (“SORP”) for the University Grants Committee (“UGC”) – Funded Institutions in Hong Kong published and effective in September 2015 by the UGC. The consolidated financial statements have been prepared on a going concern basis and under the historical cost convention, as modified by the revaluation of financial assets at fair value through profit or loss (“FVPL”), which are carried at fair value. The preparation of consolidated financial statements in conformity with HKFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements, are disclosed in Note 35. (i) The adoption of amendments to existing standards and interpretations The Group has adopted the following amendments to existing standards which are relevant to the Group’s operations and are mandatory for the financial year ended 30 June 2023: 簡介 香港大學是在香港大學條例（香港法例第一零五三章） 下成立，而亦是在香港擁有最長久歷史的高等教育學 府。 主要會計政策 除另有說明外，主要會計政策在所列報的所有年 度內貫徹應用。本大學與其附屬公司（「本機構」） 於編制合併財務報表時所採用之主要會計政策載 列如下： (a) 編制基準 本機構的合併財務報表乃依據香港會計師 公會（「HKICPA」）頒佈之香港財務報告準則 （「HKFRS」），與及採納由大學教育資助委員 會（「教資會」或「UGC」）於二零一五年九月 發出並已生效之教資會資助院校的建議準則 （「SORP」）所編制。 本合併財務報表乃按照持續經營為基準和歷 史成本法編制，並對透過損益列賬財務資產 之公平值重估作出修訂。 編制符合香港財務報告準則的合併財務報表 需要使用若干關鍵會計估算。這亦需要管理 層在應用本機構會計政策的過程中行使其判 斷。涉及高度的判斷或高度複雜性的範疇， 或涉及對合併財務報表屬重大假設和估算的 範疇，詳見附註35。 (i) 採納已修改財務報告準則及詮釋 在二零二三年六月三十日年度，本機構 採納下列與其業務相關之已修改財務報 告準則：
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