# 25. LOANS RECEIVABLE (Cont’d)

Amongst all past due but not impaired loans, the secured fixed loans of HK\$20,000,000 (2016: Nil) were secured by the collaterals with fair value (based on the quoted market price on the Stock Exchange) amounted to HK\$17,205,279 (2016: N/A). The first mortgage loan of HK\$3,500,000 and second mortgage loan of HK\$1,992,826 (2016: second mortgage loan of HK1,262,288) were secured by the collaterals with fair value (based on its prevailing market price) amounted to HK\$5,200,000 and HK\$11,800,000 respectively (2016: second mortgage loan of HK\$12,000,000) as at 31 December 2017. The Group did not hold any collateral in respect of the remaining individually impaired loans receivable. Over 90% of the loans receivable were subsequently settled after the end of the reporting period.

The individually impaired loans receivable relate to clients that were in financial difficulties and only a portion of the receivable was expected to be recovered. As at 31 December 2017, no collateral was held by the Group for the impaired loans receivable. As at 31 December 2016, the impaired loan of HK\$17,440,510 was secured by collateral with fair value (based on its prevailing market price) amounted to HK\$16,700,000. The Group did not hold any collateral in respect of the remaining individually impaired loans receivable for the year ended 31 December 2016.

25. 應收貸款（續）

在所有已逾期但並無減值的貸款中，有抵押定期貸款20,000,000港元（二零一六年：無）乃 以 公 平 值（基 於 聯 交 所 所 報 市 價）為17,205,279港元（二零一六年：不適用）的抵押品作為抵押。首次按揭貸款3,500,000港元及第二次按揭貸款1,992,826港 元（二 零一六年：第二次按揭貸款1,262,288港元）乃以於二零一七年十二月三十一日公平值（按其 當 時 市 價 計 量）分 別 為5,200,000港元及11,800,000港元（二零一六年：第二次按揭貸款12,000,000港元）的抵押品作為抵押。本集團並無就餘下個別減值的應收貸款持有任何抵押品。逾90%的應收貸款其後於報告期末後結付。

個別減值應收貸款與陷入財政困境的客戶有關，預期僅有一部分應收款項可收回。於二零一七年十二月三十一日，本集團並無就已減值應收貸款持有任何抵押品。於二 零 一 六 年 十 二 月 三 十 一 日，減 值 貸 款17,440,510港元乃以公平值（按其當時市價計 量）達16,700,000港元的抵押品作為抵押。截至二零一六年十二月三十一日止年度，本集團並無持有任何有關餘下個別減值應收貸款的抵押品。

# 26. ACCOUNTS RECEIVABLE

26. 應收賬款

<table><tr><td rowspan="2"></td><td>2017 
二零一七年</td><td>2016
二零一六年</td></tr><tr><td>HK$ 
港元</td><td>HK$
港元</td></tr><tr><td>Accounts receivable arising from business of     證券買賣業務產生的
dealing in securities:                 應收賬款：</td><td></td><td></td></tr><tr><td>— Clients                     — 客戶</td><td>4,252,258</td><td>—</td></tr></table>

The aging analysis of the accounts receivable is as follows:

以下為應收賬款的賬齡分析：

<table><tr><td rowspan="2"></td><td>2017 
二零一七年</td><td>2016
二零一六年</td></tr><tr><td>HK$ 
港元</td><td>HK$
港元</td></tr><tr><td>Past due                     已逾期</td><td></td><td></td></tr><tr><td>— 1 to 3 months                 — 一至三個月</td><td>4,252,258</td><td>—</td></tr></table>

The settlement terms of accounts receivable arising from the business of dealing in securities are two days after trade date or at specific terms agreed with clients.

The past due accounts receivable from clients in the amount of HK\$4,252,258 bear an interest of 8% per annum and relate to a wide range of clients who had no recent history of default. The Group has a right to off-set the accounts receivable from these clients by the securities held by the Group on behalf of such clients. At 31 December 2017, the total market value of their portfolios of securities was approximately HK\$7,700,000 (2016: N/A).

證券買賣業務產生的應收賬款之結算期為交易日後兩天或按與客戶之具體協議條款而定。

來自客戶的逾期應收賬款4,252,258港元以年利率8%計息，涉及多名並無近期拖欠記錄的客戶。本集團有權以本集團代該等客戶持有的證券抵銷對該等客戶之應收賬款。於二零一七年十二月三十一日，其證券組合的總市值約為7,700,000港 元（二 零一六年：不適用）。