Financial Report 2021

Notes to the Consolidated Financial Statements 合併財務報表附註 The University of Hong Kong 香港大學 105 (i) Financial risk factors – Cont’d (2) Credit risk T h e G r o u p ’ s e x p o s u r e t o c r e d i t r i s k i s represented by the carrying value of cash and cash equivalents, bank deposits, loans receivable, accounts receivable, deposits, debt securities and amount due from a Joint Venture. The exposure limits to financial institutions are set by the Investments Sub-Committee according to the deposits base, capital base and the credit rating of the institutions. The credit risk on liquid funds and financial instruments is limited because the counterparties have good credit standing. Loans receivable are mainly loans to staff and students and the Group has established procedures to control the granting and recovery of the loans. Accounts receivable, pr epaymen t s and depos i t s a r i se f rom t he ordinary activities of the Group and there are ageing controls to limit the exposure. The ma x i mum e xpo s u r e t o c r ed i t r i s k i s represented by the carrying amount of each financial asset in the consolidated statement of financial position. The Group has four types of financial assets that are subject to the expected credit loss model, including cash and cash equivalents, loans receivable, accounts receivable, prepayments and deposits and debt investments carried at amortised cost. While cash and bank balances are also subject to the impairment requirements of HKFRS 9, the credit risk on cash and bank balances are limited because the counterparties a r e banks wi t h h i gh c r ed i t r a t i ng and any identified impairment loss was immaterial. (i) 財務風險因素－續 (2) 信貸風險 本機構承受的信貸風險為現金及等 同現金、銀行存款、應收貸款、應 收賬項、押金、債券及合營企業之 應收款項。 投資附設委員會根據金融機構的存 款基礎、資本基礎及信貸評級制 訂相關的信貸額度。就本機構的流 動資金及金融工具而言，由於交易 方皆為信貸評級良好的財政機構故 此本機構只承受有限之信貸風險。 應收貸款主要為對員工及學生的貸 款，而本機構有既定的程序來控制 發放及收回貸款。應收賬項、預付 款及押金來自本機構的日常營運， 以到期日管理控制有關投放額度。 在本機構之合併財務狀況表內各金 融資產的賬面值已反映了每項財務 資產所承受之最高信貸風險。 本機構有四類財務資產須遵行預期 信貸虧損模式，包括現金及等同現 金、應收貸款、應收賬項、預付款 及押金及按攤銷成本列賬之債務投 資。現金及銀行結存亦需遵循香港 財務報告準則第 9 號之減值要求， 因對口單位為擁有高信貸評級的銀 行，故其信貸風險有限及已識辨之 減值虧損並不重大。 37. FINANCIAL RISK MANAGEMENT – Cont’d 財務風險管理－續 Notes to the Consolidated Financial Statements 合併財務報表附註 2021 Financial Report 二零二一財務報告 106 (i) Financial risk factors – Cont’d (2) Credit risk – Cont’d Accounts Receivable The Group applies the HKFRS 9 simplified approach to measure expected credit losses which uses a lifetime expected loss allowance for all accounts receivables, except for a receivable relating to a hospital project in Mainland China, which its expected credit loss is measured under a three-stage model using HKFRS 9 general approach. The expected credit loss for the receivable balance as at 30 June 2021 is close to zero as continuous settlements have been noted with no history of default. Loans Receivables The loss allowance for loans receivable as a result of applying the expected credit risk model was immaterial. Debt Investments All of the Group’s debt investments at amortised cost are considered to have low credit risk, and the loss allowance recognised during the year was therefore limited to 12 months expected losses. Management consider ‘low credit risk’ for most of the listed bonds with an investment grade credit rating with at least one major rating agency. (3) Liquidity risk Prudent liquidity risk management implies maintaining sufficient cash, ensuring availability of funding through an adequate amount of bank balances and cash and marketable securities. Financial liabilities which are expected to mature within one year have been classified under current liabilities. For financial liabilities with expected maturity over one year, they are classified as non-current liabilities and the maturity of the main items have been detailed in the notes to accounts. (i) 財務風險因素－續 (2) 信貸風險－續 應收賬項 就所有應收賬項而言，除一項與中 國內地醫院項目有關的應收賬項以 香港財務報告準則第 9 號之一般處 理方法下的三階段減值模式計量預 期信貸虧損外，機構應用香港財務 報告準則第 9 號之簡化處理方法， 使用全期預期信貸虧損撥備計量預 期信貸虧損。由於近期沒有違約 紀錄並持續收到還款，因此於二零 二一年六月三十日之預期信貸虧損 接近零。 應收貸款 應用預期信貸風險模型計算之應收 貸款之虧損撥備並不重大。 債務投資 機構按以攤銷成本列賬之財務資產 計算之所有債務投資均被視為信 貸風險較低，因此於年內確認之虧 損撥備僅限於 12 個月內之預期虧 損。管理層認為大部分上市債券之 「低信貸風險」至少由一家主要之評 級機構評定為投資級之信貸評級。 (3) 流動資金風險 審慎的流動資金風險管理指維持充 足的現金，透過備有足夠額度的銀 行存款和現金及有價證券以提供資 金。 財務負債的到期日若在一年期內， 負債項目經已分類為流動負債。若 負債到期日超出一年期，其項目則 納入非流動負債。主要之非流動負 債到期日已詳述於相關附註。 37. FINANCIAL RISK MANAGEMENT – Cont’d 財務風險管理－續