# 7. FINANCIAL INSTRUMENTS (Continued)

# (b) Financial risk management objectives and policies (Continued)

# Liquidity risk

Ultimate responsibility for liquidity risk management rests with the Board. In the management of the liquidity risk, the Group monitors and maintains a level of cash and cash equivalents deemed adequate by the management to finance the Group’s operations and mitigate the effects of fluctuations in cash flows.

The Group is exposed to liquidity risk as the Group had net current liabilities of approximately HK\$226,539,000 (2015: HK\$461,585,000). The liquidity of the Group primarily depends on the future funding being available and the ability of the Group to meet its financial obligations as they fall due. Details of which are set out in Note 2 to the consolidated financial statements.

The following table details the Group’s remaining contractual maturity for its non-derivative financial liabilities. The table has been drawn up based on the undiscounted cash flows of financial liabilities based on the earliest date on which the Group can be required to pay. The maturity dates for other non-derivative financial liabilities are based on the agreed repayment dates.

The table includes both interest and principal cash flows. To the extent that interest flows are floating rate, the undiscounted amount is derived from interest rate curve at the end of the reporting period.

In addition, the following table details the Group's liquidity analysis for its derivative financial instruments. The tables have been drawn up based on the undiscounted contractual net cash outflows on derivative instruments that settle on a net basis, and the undiscounted gross outflows on those derivatives that require gross settlement.

7. 金融工具（續）

(b) 財務風險管理目標及政策（續）

流動資金風險

流動資金風險管理由董事會最終負責，於管理流動資金風險時，本集團監控及維持管理層認為足夠之現金及現金等值水平，以向本集團之業務提供資金及減低現金流量波動之影響。

由於本集團錄得淨流動負債約226,539,000 港 元（ 二 零 一 五 年 ；461,585,000港元），故本集團承受流動資金風險。本集團的流動資金主要倚賴可動用未來資金及本集團於財務責任到期時履行財務責任的能力。有關詳情載於綜合財務報表附註2。

下表詳列本集團非衍生金融負債之餘下合約到期情況。下表乃基於金融負債之未折現現金流量而編製，其乃根據本集團可能需付款之最早日期分類。其他非衍生金融負債之到期日是根據協定還款日期而釐定。

下表載列利息及本金現金流量。若利息流量為浮息，則按報告期間結束時之孳息曲線而得出未折現金額。

此外，下表詳列本集團對其衍生金融工具的流動性分析。編製該表時乃基於按淨額基準結算的衍生工具的未貼現合約現金流出淨額，以及須按總額結算的衍生工具的非貼現流出總額計算。

# 7. FINANCIAL INSTRUMENTS (Continue)

# (b) Financial risk management objectives and policies (Continued)

# Liquidity risk (Continued)

# Liquidity tables

7. 金融工具（續）

(b) 財務風險管理目標及政策（續）

流動資金風險（續）

流動資金表

<table><tr><td></td><td>Weihgted 
average 
interest rate
加權
平均利率</td><td>On demand 
or less than 
1 year
按要求
或一年內</td><td> 1-2 years
一年
至兩年</td><td> 2-5 years
兩年
至五年</td><td>Total 
undiscounted 
cash flow
未折現現金
流量總額</td><td>Carriyng 
amounts
 賬面值</td></tr><tr><td></td><td>% 
%</td><td>HK$’000
千港元</td><td> HK$’000
 千港元</td><td> HK$’000
 千港元</td><td> HK$’000
 千港元</td><td> HK$’000
 千港元</td></tr><tr><td>2016                二零一六年</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Non-derivative financial liabilities 非衍生金融負債</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Trade and other payables      貿易及其他應付款項</td><td>–</td><td>116,605</td><td>–</td><td>–</td><td>116,605</td><td>116,605</td></tr><tr><td>Other borrowings          其他借貸</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>– interest free            －免息</td><td>–</td><td>25,700</td><td>–</td><td>–</td><td>25,700</td><td>25,700</td></tr><tr><td>– fixed rate              －定息</td><td>10.00</td><td>4,948</td><td>–</td><td>–</td><td>4,948</td><td>4,800</td></tr><tr><td>– variable rate            －浮息</td><td>3.82</td><td>41,528</td><td>–</td><td>–</td><td>41,528</td><td>40,000</td></tr><tr><td>Obligations under finance leases 融資租賃承擔</td><td>1.45</td><td>601</td><td>601</td><td>289</td><td>1,491</td><td>1,439</td></tr><tr><td>Convertible bonds          可換股債券</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>– debt component          －債務部分</td><td>15.21</td><td>112,997</td><td>–</td><td>–</td><td>112,997</td><td>97,781</td></tr><tr><td></td><td></td><td>302,379</td><td>601</td><td>289</td><td>303,269</td><td>286,325</td></tr><tr><td>2015                  二零一五年</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Non-derivative financial liabilities 非衍生金融負債</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Trade and other payables      貿易及其他應付款項</td><td>–</td><td>96,565</td><td>–</td><td>–</td><td>96,565</td><td>96,565</td></tr><tr><td>Other borrowings          其他借貸</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>– interest free            －免息</td><td>–</td><td>25,700</td><td>–</td><td>–</td><td>25,700</td><td>25,700</td></tr><tr><td>– fixed rate              －定息</td><td>10.00</td><td>3,620</td><td>–</td><td>–</td><td>3,620</td><td>3,500</td></tr><tr><td>– variable rate            －浮息</td><td>3.20</td><td>40,839</td><td>–</td><td>–</td><td>40,839</td><td>40,000</td></tr><tr><td>Obligations under finance leases 融資租賃承擔</td><td>2.59</td><td>668</td><td>668</td><td>980</td><td>2,316</td><td>2,196</td></tr><tr><td>Convertible bonds          可換股債券</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>– debt component         －債務部分</td><td>–</td><td>325,307</td><td>–</td><td>–</td><td>325,307</td><td>325,307</td></tr><tr><td>Promissory notes payable      應付承兌票據</td><td>13.70</td><td>–</td><td>24,000</td><td>–</td><td>24,000</td><td>18,925</td></tr><tr><td></td><td></td><td>492,699</td><td>24,668</td><td>980</td><td>518,347</td><td>512,193</td></tr><tr><td>Derivatives – net settlement     衍生工具－以淨額結算
– Derivative financial liability     －衍生金融負債</td><td>–</td><td>–</td><td>–</td><td>–</td><td>–</td><td>17,785</td></tr></table>

The amounts included above for variable interest rate instruments for non-derivative financial liabilities are subject to change if changes in variable interest rates differ to those estimates of interest rates determined at the end of the reporting period.

上文就非衍生金融負債之浮動利率工具包括之金額，會因浮動利率變動有別於報告期間結算日所釐定估計而有變。