Financial Report 2019

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 2018-19 was the final year of the 2016- 19 triennium. The Group has demonstrated its commitment to provide world-class education and research and delivered the impac t through i nt erna t i ona l i sa t i on , i nnova t i on and interdisciplinarity. A surplus of $677 million was recorded in the Group’s consolidated financial results, primarily driven by increase in tuition fee and gain from disposal of assets. 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. RESULTS FOR THE YEAR The Group’s consolidated results for the year ended 30 June 2019 are summarised as follows: 2019 2018 $ million $ million 百萬元 百萬元 Income 收入 10,670 10,846 Expenditure 支出 (10,279) (9,455) Surplus from Operations 營運盈餘 391 1,391 Share of Surplus of Joint Ventures and Associates 應佔合營企業及聯營公司盈餘 11 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 684 1,402 Other Comprehensive (Loss)/Income 其他綜合 ( 虧損 ) ╱收益 (7) 7 Total Comprehensive Income 綜合收益總額 677 1,409 Consolidated income for the year 2018-19 was $10,670 million, a decrease of $176 million from last year. This was impacted by a decrease in investment income along with less donations and benefactions received during the year. Consolidated expenditure increased by 9% to $10,279 million (2017-18: $9,455 million), of which $7,504 million (2017-18: $6,891 million) was expended on the Group’s teaching, learning and research activities. 總覽 二零一八╱一九年度是二零一六╱一九三年撥 款期的最後一年。本機構致力提供世界級的教 學與科研，並透過國際化、創新及跨學科以作 出影響。本年度本機構錄得合併財務結算盈餘 六億七千七百萬元，主要源於學費的增長及出 售資產的收益。 本機構編制合併財務報表時，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 截至二零一九年六月三十日止年度，本機構的 合併結算概述如下： 二零一八╱一九年度的合併收益合共為一百零 六億七千萬元，比上年度減少一億七千六百萬 元，主要是由於投資收益及外界捐助的減少。 本年度的合併支出較去年增加約百分之九， 合共為一百零二億七千九百萬元（上年度為 九十四億五千五百萬元），其中七十五億零 四百萬元（上年度為六十八億九千一百萬元）用 於本機構的各項教學及科研活動。 Treasurer’s Report 司庫報告書 (Expressed in Hong Kong dollars) 　（以港幣列賬） 2019 Financial Report 二零一九財務報告 2 INVESTMENTS In 2018-19, the Group achieved an overall investment profit of $520 million (2017-18: $930 million) after a volatile year. Notwithstanding the market volatility, the Group continues to adopt a prudent, disciplined, diversified and long-term approach in managing its investments. The Group’s investment value as of 30 June 2019 was $24,827 million (2017-18: $22,592 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 $302 million (2017-18: $295 million) of RGC grants was recognised as income by the University during the year. 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 2018-19, $286 million (2017-18: $277 million) was recorded as income in the consolidated statement of comprehensive income. DONATIONS Dona t i ons tot a l i ng $442 mi l l i on ( 2017-18 : $641 mi l l i on ) were recorded as income in the consolidated statement of comprehensive income, of which $308 million (2017-18: $372 million) was for research; $13 million (2017-18: $96 million) for capital building and alterations, additions and improvement projects; $52 million (2017-18: $75 million) for scholarships, bursaries, prizes and loans; and $69 million (2017-18: $98 million) for various other purposes. 投資 經過二零一八╱一九年度波動的一年，本機構 仍錄得總投資收益共五億二千萬元（上年度為 九億三千萬元）。即使市場持續波動，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。 以二零一九年六月三十日市值計算，本機構投 資總值為二百四十八億二千七百萬元（上年度 為二百二十五億九千二百萬元）。 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，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 的補助金撥款合共三億零二百萬元（上年度為 二億九千五百萬元）。 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。本年度合共獲得二億八千六百萬 元（上年度為二億七千七百萬元），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四億四千二百 萬元（上年度為六億四千一百萬元），其中三億 零八百萬元（上年度為三億七千二百萬元）用 於科研，一千三百萬元（上年度為九千六百萬 元）用於校舍基建與改建、加建及改善工程等 項目，五千二百萬元（上年度為七千五百萬 元）用作獎學金、助學金、獎金及貸款，以及 六千九百萬元（上年度為九千八百萬元）用於其 他用途。