Capital Expenditure
|
HK$ million |
Year ended 31 December |
Increase/(Decrease) |
||
|---|---|---|---|---|
|
2020 |
2019 |
Amount |
% |
|
|
Comprehensive financial services |
7,909 |
4,975 |
2,934 |
59% |
|
Advanced intelligent manufacturing |
579 |
1,638 |
(1,059) |
(65%) |
|
Advanced materials |
9,761 |
10,278 |
(517) |
(5.0%) |
|
New consumption |
2,994 |
8,671 |
(5,677) |
(65%) |
|
New-type urbanisation |
8,373 |
6,756 |
1,617 |
24% |
|
Total |
29,616 |
32,318 |
(2,702) |
(8.4%) |
Capital Commitments
As at 31 December 2020, the contracted capital commitments of the Group amounted to approximately HK$27,075 million. Details are disclosed in note 47(f) to the financial statements.
Group Financial Position
|
HK$ million |
As at 31 December |
Increase/(Decrease) |
||
|---|---|---|---|---|
|
2020 |
2019 |
Amount |
% |
|
|
Total assets |
9,740,828 |
8,289,924 |
1,450,904 |
18% |
|
Loans and advances to customers and other parties |
5,206,155 |
4,366,639 |
839,516 |
19% |
|
Investments in financial assets |
2,553,067 |
2,153,729 |
399,338 |
19% |
|
Held-to-maturity investment |
755,386 |
740,434 |
14,952 |
2.0% |
|
Placement with banks and non-bank financial institutions |
198,513 |
226,686 |
(28,173) |
(12%) |
|
Trade and other receivables |
169,723 |
167,427 |
2,296 |
1.4% |
|
Fixed assets |
167,840 |
150,075 |
17,765 |
12% |
|
Total liabilities |
8,732,186 |
7,395,433 |
1,336,753 |
18% |
|
Deposits from customers |
5,427,694 |
4,541,841 |
885,853 |
20% |
|
Deposits from banks and non-bank financial institutions |
1,370,439 |
1,061,380 |
309,059 |
29% |
|
Debt instruments issued |
973,858 |
823,964 |
149,894 |
18% |
|
Borrowing from central banks |
266,611 |
268,256 |
(1,645) |
(0.6%) |
|
Bank and other loans |
163,604 |
151,312 |
12,292 |
8.1% |
|
Trade and other payables |
160,943 |
148,908 |
12,035 |
8.1% |
|
Total ordinary shareholders’ funds |
674,276 |
591,526 |
82,750 |
14% |
Total assets
Total assets increased from HK$8,289,924 million as at 31 December 2019 to HK$9,740,828 million as at 31 December 2020, mainly attributable to an increase in loans and advances to customers and other parties as well as Investments in financial assets.
By geography
Loans and advances to customers and other parties
As at 31 December 2020, the loans and advances to customers and other parties of the Group was HK$5,206,155 million, an increase of HK$839,516 million or 19% compared to 31 December 2019. The proportion of loans and advances to customers and other parties to total assets was 53.45%, an increase of 0.78 percentage point compared to 31 December 2019.
|
HK$ million |
As at 31 December |
Increase/(Decrease) |
||
|---|---|---|---|---|
|
2020 |
2019 |
Amount |
% |
|
|
Loans and advances to customers and other parties measured at amortised cost |
|
|
|
|
|
Corporate loans |
2,595,572 |
2,201,477 |
394,095 |
18% |
|
Discounted bills |
7,947 |
7,995 |
(48) |
(0.6%) |
|
Personal loans |
2,246,396 |
1,927,346 |
319,050 |
17% |
|
Accrued interest |
15,182 |
11,388 |
3,794 |
33% |
|
Total loans and advances to customers and other parties measured at amortised cost |
4,865,097 |
4,148,206 |
716,891 |
17% |
|
Impairment allowances |
(156,218) |
(134,001) |
(22,217) |
(17%) |
|
Carrying amount of loans and advances to customers and other parties measured at amortised cost |
4,708,879 |
4,014,205 |
694,674 |
17% |
|
Loans and advances to customers and other parties at fair value through other comprehensive income |
|
|
|
|
|
Personal loans |
8,465 |
7,719 |
746 |
10% |
|
Loans and advances to customers and other parties measured at fair value through other comprehensive income |
|
|
|
|
|
Corporate loans |
3,203 |
1,029 |
2,174 |
211% |
|
Discounted bills |
485,608 |
343,686 |
141,922 |
41% |
|
Carrying amount of loans and advances to customers and other parties measured at fair value through other comprehensive income |
488,811 |
344,715 |
144,096 |
42% |
|
Net loans and advances to customers and other parties |
5,206,155 |
4,366,639 |
839,516 |
19% |
Investments in financial assets
As at 31 December, the Investments in financial assets of the Group was HK$2,553,067 million, an increase of HK$399,338 million, increased 19% compared with 31 December 2019. The proportion of Investments in financial assets to total assets was 26.21%, an increase of 0.23% compared with 31 December 2019.
(a) Analysed by types
|
HK$ million |
As at 30 June 2020 |
As at 31 December 2019 |
Increase/(Decrease) |
|
|---|---|---|---|---|
|
Amount |
% |
|||
|
Debt securities |
1,713,503 |
1,384,079 |
329,424 |
24% |
|
Investment management products managed by securities companies |
128,035 |
212,055 |
(84,020) |
(40%) |
|
Investment funds |
368,171 |
268,230 |
99,941 |
37% |
|
Trust investment plans |
235,803 |
190,837 |
44,966 |
24% |
|
Certificates of deposit and certificates of interbank deposit |
70,127 |
57,780 |
12,347 |
21% |
|
Equity investment |
26,185 |
25,178 |
1,007 |
4.0% |
|
Wealth management products |
6,532 |
4,157 |
2,375 |
57% |
|
Investments in creditor’s rights on assets |
96 |
570 |
(474) |
(83%) |
|
Others |
2,109 |
484 |
1,625 |
336% |
|
Subtotal |
2,550,561 |
2,143,370 |
407,191 |
19% |
|
Accrued interest |
19,968 |
19,029 |
939 |
5% |
|
Less: allowance for impairment losses |
(17,462) |
(8,670) |
(8,792) |
(101%) |
|
Total |
2,553,067 |
2,153,729 |
399,338 |
19% |
(b) Analysed by measurement attribution
|
HK$ million |
As at 30 June 2020 |
As at 31 December 2019 |
Increase/(Decrease) |
|
|---|---|---|---|---|
|
Amount |
% |
|||
|
Financial assets at amortised cost |
1,156,496 |
1,040,997 |
115,499 |
11% |
|
Financial assets at FVPL |
528,293 |
403,776 |
124,517 |
31% |
|
Debt investments at FVOCI |
860,255 |
701,936 |
158,319 |
23% |
|
Equity investments at FVOCI |
8,023 |
7,020 |
1,003 |
14% |
|
Total |
2,553,067 |
2,153,729 |
399,338 |
19% |
Deposits from customers
As at 31 December 2020, deposits from customers of the financial institutions under the Group were HK$5,427,694 million, an increase of HK$885,853 million or 20% compared to 31 December 2019. The proportion of deposits from customers to total liabilities was 62.16%, an increase of 0.74 percentage point compared to 31 December 2019.
|
HK$ million |
As at 31 December 2020 |
As at 31 December 2019 |
Increase/(Decrease) |
|
|---|---|---|---|---|
|
Amount |
% |
|||
|
Corporate deposits |
||||
|
Time deposits |
1,991,042 |
1,653,630 |
337,412 |
20% |
|
Demand deposits |
2,258,627 |
1,862,591 |
396,036 |
21% |
|
Subtotal |
4,249,669 |
3,516,221 |
733,448 |
21% |
|
Personal deposits |
||||
|
Time deposits |
726,173 |
672,759 |
53,414 |
7.9% |
|
Demand deposits |
388,658 |
307,582 |
81,076 |
26% |
|
Subtotal |
1,114,831 |
980,341 |
134,490 |
14% |
|
Outward remittance and remittance payables |
10,763 |
7,227 |
3,536 |
49% |
|
Accrued interest |
52,431 |
38,052 |
14,379 |
37% |
|
Total |
5,427,694 |
4,541,841 |
885,853 |
20% |
Bank and other loans
|
HK$ million |
As at 31 December 2020 |
As at 31 December 2019 |
Increase/(Decrease) |
|
|---|---|---|---|---|
|
Amount |
% |
|||
|
Comprehensive financial services |
2,382 |
3,927 |
(1,545) |
(39%) |
|
Advanced intelligent manufacturing |
15,867 |
7,342 |
8,525 |
116% |
|
Advanced materials |
53,753 |
53,264 |
489 |
0.9% |
|
New consumption |
10,301 |
11,673 |
(1,372) |
(12%) |
|
New-type urbanisation |
39,217 |
31,874 |
7,343 |
23% |
|
Operation management |
82,529 |
83,431 |
(902) |
(1.1%) |
|
Elimination |
(40,878) |
(40,833) |
(45) |
(0.1%) |
|
Sub-total |
163,171 |
150,678 |
12,493 |
8.3% |
|
Accrued interest |
433 |
634 |
(201) |
(32%) |
|
Total |
163,604 |
151,312 |
12,292 |
8.1% |
Debt instruments issued
|
HK$ million |
As at 31 December 2020 |
As at 31 December 2019 |
Increase/(Decrease) |
|
|---|---|---|---|---|
|
Amount |
% |
|||
|
Comprehensive financial services |
872,734 |
725,589 |
147,145 |
20% |
|
Advanced intelligent manufacturing |
– |
141 |
(141) |
(100%) |
|
Advanced materials |
772 |
670 |
102 |
15% |
|
New consumption |
3,496 |
3,493 |
3 |
0.1% |
|
New-type urbanisation |
360 |
352 |
8 |
2.3% |
|
Operation management |
121,736 |
115,644 |
6,092 |
5.3% |
|
Elimination |
(30,567) |
(27,860) |
(2,707) |
(10%) |
|
Sub-total |
968,531 |
818,029 |
150,502 |
18% |
|
Accrued interest |
5,327 |
5,935 |
(608) |
(10%) |
|
Total |
973,858 |
823,964 |
149,894 |
18% |
Total ordinary shareholders’ funds
As at 31 December 2020, total ordinary shareholders’ funds of the Group amounted to HK$674,276 million, an increase of HK$82,750 million as compared with 31 December 2019. This was mainly attributable to the growth in net profits.