Interim Report 2013

舜宇光學科技（集團）有限公司 中期報告 2013 11 Management Discussion and Analysis 管理層討論與分析 本集團營運資金主要來自於手頭現金、投資活動 及融資活動所得淨現金。長遠而言，本集團會以 經營活動所得淨現金以及額外股權融資或借貸 （如有需要）所得資金經營。 於回顧期內，本集團資金及財務政策並無重大變 動。本集團於截至二零一三年六月三十日止六個 月期間錄得現金及現金等值項目增加淨額約為人 民幣 87,400,000 元，較去年同期增加約人民幣 13,000,000 元。 資本開支 截至二零一三年六月三十日止六個月，本集團的 資本開支約為人民幣 118,800,000 元。資本開支 主要用作購置物業、機器及設備和其他有形資 產。所有資本開支均來源於內部資源。 資本結構 債務 借貸 於二零一三年六月三十日，本集團的銀行貸款約 為人民幣 332,600,000 元（二零一二年十二月三十 一日：約為人民幣 102,600,000 元）。本集團安排 的已抵押銀行存款為人民幣 800,000 元（二零一二 年十二月三十一日：約為人民幣 200,000 元）。 於二零一三年六月三十日，在所有銀行貸款當 中，以韓圜結算的貸款約為人民幣 2,300,000 元、 以人民幣結算的貸款約為人民幣 22,400,000 元、 以美元結算的貸款約為人民幣 307,900,000 元。 本集團的負債比率是指總借款佔總資本的比例 （總資本為總負債與股東權益之和）約為 9.1% ，反 映出本集團財務狀況處於十分穩健的水平。 The Group derives its working capital mainly from cash on hand, net cash generated from financing and investing activities. In the long run, the Group will be funded by net cash from operating activities and, if necessary, by additional equity financing or borrowings. During the period under review, there were no material changes in the funding and financial policy of the Group. The Group recorded the net increase in cash and cash equivalents of approximately RMB87.4 million for the six months ended 30 June 2013, representing an increase of approximately RMB13.0 million compared with the corresponding period of the last year. Capital Expenditure For the six months ended 30 June 2013, the Group’s capital expenditure amounted to approximately RMB118.8 million, which was mainly used for the purchases of property, plant, equipment and other tangible assets. All of the capital expenditure was financed by internal resources. CAPITAL STRUCTURE Indebtedness Borrowings Bank loans of the Group as of 30 June 2013 amounted to approximately RMB332.6 million (as of 31 December 2012: approximately RMB102.6 million). Pledged bank deposit of the Group amounted to RMB0.8 million (as of 31 December 2012: approximately RMB0.2 million) was arranged. As of 30 June 2013, among all bank loans, approximately RMB2.3 million were denominated in Korean Won, approximately RMB22.4 million were denominated in RMB Yuan, while approximately RMB307.9 million were denominated in U.S. Dollars. The gearing ratio of the Group by reference to the total debt to total book capitalization ratio (total book capitalisation means the sum of total liabilities and shareholders’ equity) was approximately 9.1%, reflecting that the Group’ s financial position was at a sound level.