Financial Statements for the Year Ended 30 June 2015

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2014﹣2015 Financial Statements 財務報表

Financial Statements

財務報表

截至2015年6月30日止年度 For the Year Ended 30 June 2015

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司庫報告 ……… 1 - 3 Treasurer's Report

獨立核數師報告 ……… 4 - 5

Independent Auditor's Report

……… 6 - 7

Consolidated Statement of Comprehensive Income

綜合資產負債表 ……… 8 - 9

Consolidated Balance Sheet

綜合資金變動表 ……… 10 - 11

Consolidated Statement of Changes in Fund Balances

綜合現金流動表 ……… 12 - 13

Consolidated Statement of Cash Flows

綜合財務報表附註 ……… 14 - 61

Notes to the Consolidated Financial Statements

1. 一般資料 General Information

2. 編制基準 Basis of Preparation

3. 分部收入及支出 Income and Expenditure by Segment

3.1 政府資助及撥款 Government Subventions and Grants 3.2 利息及投資收入 Interest and Investment Income 3.3 輔助服務及其他收入 Auxiliary Services and Other Income

3.4 開支 Expenditure

4. 高收入員工薪酬 Remuneration of Higher Paid Staff

5. 稅項 Taxation

6. 物業、機器及設備 Property, Plant and Equipment

7. 無形資產 Intangible Assets

8. 財務資產 Financial Assets

9. 於聯營公司權益 Interest in an Associate

10. 於合資企業權益 Interest in a Joint Venture

11. 應收賬款及預付款項 Accounts Receivable and Prepayments

12. 現金及等同現金 Cash and Cash Equivalents

13. 應付賬款及應計費用 Accounts Payable and Accruals 14. 教職員福利撥備 Provision for Staff Benefits

15. 遞延收益 Deferred Income

16. 資本儲備 Capital Reserves

17. 教資會整筆撥款儲備、所得捐款 UGC Block Grant Reserves, Donations and Matching 及配對撥款儲備及其他儲備 Grants Reserves, and Other Reserves

18. 承諾捐款

19. 財務風險管理 Financial Risk Management

20. 承擔 Commitments

21. 關聯方交易 Related Party Transactions

22. 附屬公司

23. 主要會計估計及判斷 Critical Accounting Estimates and Judgements

24. 主要會計政策 Principal Accounting Policies

25. 已公佈但尚未生效的新準則、 Possible Impact of new Standards, interpretations and 詮釋和修訂的潛在影響 amendments published that are not yet effective 26. 收入及支出表 Income and Expenditure Statement

(a) 香港科大霍英東學院 (a) HKUST Fok Ying Tung Graduate School

(b) 香港科技大學賽馬會高等研究院 (b) HKUST Jockey Club Institute for Advanced Study Pledged Donations

Subsidiaries

TREASURER'S REPORT

The consolidated statement of comprehensive income for the year 2014/15 shows a deficit after taxation of $5 million (surplus of $602 million for 2013/14). The deficit for 2014/15 primarily reflects the impact of the changes to the University's investment income which for 2014/15 was a loss of $132 million compared with a gain of $512 million for 2013/14. This masked the steady progress on underlying performance of the University. Removing the impact of investment income the performance of the University activities reflect a surplus for 2014/15 of $127 million compared with $90 million for 2013/14 as shown below.

CONSOLIDATED INCOME AND EXPENDITURE

2014/15年度綜合收入下跌至3,828,000,000元 (2013/14年度為4,198,000,000元)。除去以上提及的投資收入的影響，原有的綜合收入增至 3,960,000,000 元 (2013/14 年度為 2014/15年度綜合全面收益表顯示5,000,000元的稅後虧損 (2013/14 年為 602,000,000 元盈餘)。該虧損主要反映出大學投資收入變動之影響，與2013/14年度的512,000,000元收益相比，2014/15年為132,000,000元的虧損。該投資收入之變動掩蓋大學原有穩定發展的業績。除去投資收入的影響，大學活動的業績表現如下表所顯示應為2014/15年度之 127,000,000 元盈餘，相比 2013/14 年度之 90,000,000元盈餘。投資回報在短期內可有波動。大學的財務委員會定期審核大學財務投資的表現並深信已適當地分散投資來減低中期及長期之市場波動。

Investment returns can be volatile in the short term. The University's Finance Committee reviews the performance of the University's financial investments on a regular basis and believes that the investments are appropriately diversified to help mitigate market volatility over the medium to long term.

大學之財政狀況可從其儲備的水平來考量。於 2015年 6月 30日，大學的總儲備達 5,401,000,000元。

The financial health of the University can be judged by the level of its reserves. As at 30 June 2015, the University reserves amounted to $5,401 million.

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分部結果 SEGMENT RESULTS

持續進修教育活動，研究活動及其他活動 Self-Financing Continuing Professional Education Programs ("CPEP"), Research and Other Activities

持續進修教育活動及研究活動(沒有分配投資收入 ) 錄得 56% 的營運盈餘增長至 119,000,000 元 (2013/14 年為 76,000,000 元 ) ，主要來自於推出的新課程，報讀學生人數及學費收入增加以及從已完成的商業研究合約所得的盈餘。

The operation of self-financing CPEP activities and research activities, without allocation of investment income, showed a 56% increase in surplus to $119 million ($76 million for 2013/14) mainly driven by the offering of new programs, higher student enrollment and higher tuition fees, as well as the surplus from completion of commercial research contracts.

Consolidated expenditure for the year increased to $3,833 million ($3,604 million for 2013/14) mainly attributable to the general pay adjustment on salaries, additional staffing and other resources for supporting the higher student enrollment population and increased spending on research activities.

教育資助委員會(「教資會」)整筆撥款資助之活動

University Grants Committee ("UGC") Block Grant-funded Activities 此營運部分表現收支平衡 (2013/14 年為 126,000,000元盈餘)。當除去29,000,000元的負投資收入 (2013/14年為正115,000,000元)，原有營運結果為29,000,000元盈餘 (2013/14年為11,000,000元盈餘)，皆因新增的營運開支比教資會整筆撥款及額外附加撥款的增長較少。

This operating segment showed a break-even position ($126 million surplus for 2013/14). After excluding the negative impact of investment income of $29 million (positive $115 million for 2013/14), the underlying result was a surplus of $29 million ($11 million surplus for 2013/14). This was due to increases in the operating expenses being less than the higher Block Grant/supplementary allocation from UGC.

本年度綜合開支增至3,833,000,000元(2013/14 年度為3,604,000,000元)，主要因薪金調整，聘請額外員工，報讀學生人數增加及其他科研活動增長而導致。因投資收入按年的變動之影響，分部結果亦被扭曲。原有盈餘或虧損之評述如下:

Segment results are also distorted due to the impact of the movements in investment income year on year. Commentary on the underlying surplus/deficit is as follows: 其他活動部分錄得 35,000,000 元虧損 (2013/14 年為 128,000,000 元盈餘 ) 。當除去 32,000,000 元的負投資收入 (2013/14年為正 126,000,000元)，其他活動原有營運業績為 3,000,000元虧損 (2013/14年為2,000,000元盈餘)。

Other Activities showed a deficit of $35 million (surplus of $128 million for 2013/14). After excluding the negative impact of investment income of $32 million (positive $126 million for 2013/14), the underlying performance of Other Activities was a deficit of $3 million (surplus of $2 million for 2013/14).

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所得捐款及有關活動 Donations and Related Activities 資本支出 CAPITAL EXPENDITURE 展望 OUTLOOK 教資會第六期配對撥款計劃完結後，捐款收入維持穩定。儘管此部分錄得89,000,000 元虧損 (2013/14年為272,000,000元盈餘)，當除去71,000,000元的負投資收入 (2013/14年為正 271,000,000 元 ) ，原有營運結果為 18,000,000元虧損 (2013/14年為1,000,000元盈餘)，主要為確認收入及支出的時差所致。

After completion of the 6th Matching Grant Scheme, recognized donations income stayed at a steady level. While this segment showed a deficit of $89 million (surplus of $272 million for 2013/14), after excluding the negative impact of investment income of $71 million (positive $271 million for 2013/14), the underlying result was a deficit of $18 million (surplus of $1 million for 2013/14). This was mainly caused by timing differences between recognition of income and expenditure incurred.

趁來年25週年校慶，大學將致力籌募更多捐款。面對近期投資市場的波動，大學將繼續謹慎理財，確保維持充足的儲備以支持大學將來的發展計劃及目標。

Taking the opportunity of the 25th Anniversary of the University in the coming year, the University will be putting concerted efforts into fund-raising to secure further donations. With the recent unstable environment in the investment market, the University will remain cautious in its financial management and ensure it maintains adequate reserves for its future plans and goals.

The completion of the Research and Academic Building has enhanced the University's teaching and research facilities. The Conference Lodge, a new on-campus hospitality facility, also largely completed during the year, caters for the accommodation needs of visitors and overseas students for various academic and research activities and events. Other in-progress construction projects include new on-site student residences, an additional 520 off-campus student hostel rooms in Tseung Kwan O and the Multi-Purpose Auditorium. 截至2015年6月30日，已批准之建築項目及其他資本項目的總資本承擔達2,087,000,000 元。當中的103,000,000 元來自遞延收益， 1,054,000,000 元來自現有儲備，240,000,000 元來自已批但未收之教資會撥款， 100,000,000元來自承諾捐款，及已向教資會申請之590,000,000元撥款。

As at 30 June 2015, the total commitments for approved construction projects and other capital items amounted to $2,087 million: $103 million of which will be funded by deferred income on hand, $1,054 million from existing reserves, $240 million by approved but yet to be received UGC grants, $100 million by pledged donations, and $590 million from UGC grants under application. 已竣工的研究及學術大樓進一步完善了大學的學術及研究設施。新增校園住宿設施 ─Conference Lodge，大部分亦已於年內完工，將為參與學術及研究活動而來的訪客及海外學生提供住宿。其他進行中的建築項目還包括新建校內學生宿舍，位於將軍澳的額外520間校外學生宿房與及多用途禮堂等。

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致：香港科技大學校董會 To : 校董會就綜合財務報表須承擔的責任核數師的責任 Auditor's responsibility 本核數師(以下簡稱「我們」)已審計列載於第6 至61頁香港科技大學(「大學」)及其附屬公司 (以下合稱「集團」)的綜合財務報表，此綜合財務報表包括於2015年6月30日的綜合資產負債表與截至該日止年度的綜合全面收益表、綜合資金變動表和綜合現金流動表，以及主要會計政策概要及其他附註解釋資料。獨立核數師報告

INDEPENDENT AUDITOR'S REPORT

We have audited the consolidated financial statements of The Hong Kong University of Science and Technology (the "University") and its subsidiaries (together, the "Group") set out on pages 6 to 61, which comprise the consolidated balance sheet as at 30 June 2015, and the consolidated statement of comprehensive income, the consolidated statement of changes in fund balances and the consolidated statement of cash flows for the year then ended, and a summary of significant accounting policies and other explanatory information.

The Council of The Hong Kong University of Science and Technology

The Council's responsibility for the consolidated financial statements 貴校董會須負責根據香港會計師公會頒布的香港財務報告準則擬備真實而中肯的綜合財務報表，並對其認為為使綜合財務報表的擬備不存在由於欺詐或錯誤而導致的重大錯誤陳述所必需的內部控制負責。我們的責任是根據我們的審計對該等綜合財務報表作出意見，並僅向校董會（作為整體）報告，除此之外本報告別無其他目的。我們不會就本報告的內容向任何其他人士負上或承擔任何責任。

Our responsibility is to express an opinion on these consolidated financial statements based on our audit and to report our opinion solely to you, as a body, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

The Council of the University is responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants, and for such internal control as the Council determines is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

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意見 Opinion

羅兵咸永道會計師事務所 PricewaterhouseCoopers

執業會計師 Certified Public Accountants

In our opinion, the consolidated financial statements give a true and fair view of the financial position of the Group as at 30 June 2015, and of the financial performance and cash flows of the Group for the year then ended in accordance with Hong Kong Financial Reporting Standards. 我們相信，我們所獲得的審計憑證能充足和適當地為我們的審計意見提供基礎。我們認為，該等綜合財務報表已根據香港財務報告準則真實而中肯地反映貴集團於2015年6 月30日的財務狀況及彼等截至該日止年度的財務表現及現金流量。審計涉及執行程序以獲取有關綜合財務報表所載金額及披露資料的審計憑證。所選擇的程序取決於核數師的判斷，包括評估由於欺詐或錯誤而導致綜合財務報表存在重大錯誤陳述的風險。在評估該等風險時，核數師考慮與該公司擬備真實而中肯的綜合財務報表相關的內部控制，以設計適當的審計程序，但目的並非對公司內部控制的有效性發表意見。審計亦包括評價校董會所採用會計政策的恰當性及作出會計估計的合理性，以及評價綜合財務報表的整體列報方式。

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation of consolidated financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Council, as well as evaluating the overall presentation of the consolidated financial statements. 我們已根據香港會計師公會頒佈的香港審計準

則進行審計。該等準則要求我們遵守道德規範，並規劃及執行審計以對綜合財務報表是否不存在任何重大錯誤陳述獲取合理保證。

We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement.

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2015 2014

附註百萬元百萬元

Notes $million $million

收入

Income

政府資助及撥款 3.1 2,241 2,081

Government Subventions and Grants

學費、課程及其他收費 1,030 948

Tuition, Programmes and Other Fees

利息及投資收入 3.2 (96) 562

Interest and Investment Income

外界捐款 86 84

Donations and Benefactions

輔助服務及其他收入 3.3 347 324

Auxiliary Services and Other Income

轉撥自資本儲備 16 / 24.15 220 199

Transfers from Capital Reserves

3,828 4,198

開支 3.4

Expenditure

學術及研究

Learning and Research

教學及研究 2,447 2,257

Instruction and Research

圖書館 104 99

Library

中央電腦設備 127 111

Central Computing Facilities

其他教學服務 97 88

Other Academic Services

2,775 2,555

校務支援

Institutional Support

管理及一般事務 241 215

Management and General

校舍及有關費用 548 587

Premises and Related Expenses

學生及一般教育服務 237 217

Student and General Education Services

其他活動 32 30

Other Activities

1,058 1,049

3,833 3,604

本年度營運(虧損) / 盈餘 (5) 594

(Deficit) / Surplus from operation for the year

綜合全面收益表截至2015年6月30日止年度

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2015

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2015 2014

所佔聯營公司的經營業績 9 1 8

Share of Result of an Associate

所佔合資企業的經營業績 10 (1) 0

Share of Result of a Joint Venture

本年度稅前(虧損) / 盈餘 (5) 602

(Deficit) / Surplus for the year before taxation

稅項 5 0 0

Taxation

本年度稅後(虧損) / 盈餘 (5) 602

(Deficit) / Surplus for the year after taxation

年內之其他全面收益 / (虧絀)

Other comprehensive income / (loss) for the year

其後或循環至收入及開支的項目：

於可供出售財務資產未實現之盈利 3 1

Unrealised gain on Available-for-Sale Financial Assets

轉撥自資本儲備至綜合全面收益表 16 / 24.14 (220) (199)

外幣換算之差額 1 (1)

Exchange differences arising from retranslation

(216) (199)

年內全面(虧絀) / 收益總額 (221) 403

Total comprehensive (loss) / income for the year

轉撥至 / (自)： Transfers to / (from): 資本儲備 (219) (201) Capital Reserves 0 126 所得捐款及配對撥款儲備 (88) 273

Donations and Matching Grants Reserves

其他儲備 83 204

Other Reserves

投資重估儲備 3 1

Investment Revaluation Reserve

University Grants Committee ("UGC") Block Grant Reserves Transfer from Capital Reserves to consolidated statement of comprehensive income

大學教育資助委員會(「教資會」)整筆撥款儲備

綜合全面收益表(續)

Items that may be reclassified subsequently to income and expenditure:

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Cont'd) FOR THE YEAR ENDED 30 JUNE 2015

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2015 2014

非流動資產

Non-Current Assets

物業、機器及設備 6 4,813 4,551

Property, Plant and Equipment

無形資產 7 6 21

Intangible Assets

持至到期日財務資產 8 71 108

Held-to-Maturity Financial Assets

可供出售財務資產 8 22 19

Available-for-Sale Financial Assets

按公平值透過損益記賬之財務資產 8 4,171 4,295

Financial Assets at Fair Value through Profit or Loss

於聯營公司權益 9 64 66

Interest in an Associate

於合資企業權益 10 (1) 0

Interest in a Joint Venture

9,146 9,060

流動資產

Current Assets

持至到期日財務資產 8 37 5

Held-to-Maturity Financial Assets

存貨 0 1

Inventories

應收賬款及預付款項 11 202 257

Accounts Receivable and Prepayments

原到期日超過三個月之定期存款 1,661 1,375

Bank Deposits with Original Maturity over Three Months

現金及等同現金 12 687 787

Cash and Cash Equivalents

2,587 2,425

流動負債

Current Liabilities

應付賬款及應計費用 13 660 547

Accounts Payable and Accruals

教職員福利撥備 14 163 154

Provision for Staff Benefits

遞延收益 15 659 604 Deferred Income 應付稅項 1 2 Tax Payable 1,483 1,307 流動資產淨值 1,104 1,118

Net Current Assets

資產總值減流動負債 10,250 10,178

Total Assets Less Current Liabilities

綜合資產負債表 2015年6月30日

CONSOLIDATED BALANCE SHEET AS AT 30 JUNE 2015

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2015 2014

非流動負債

Non-Current Liabilities

教職員福利撥備 14 22 22

Provision for Staff Benefits

資產淨值 10,228 10,156

NET ASSETS

資本儲備 16 4,819 4,572

Capital Reserves

教資會整筆撥款儲備 17 1,257 1,255

UGC Block Grant Reserves

所得捐款及配對撥款儲備 17 2,568 2,811

Donations and Matching Grants Reserves

其他儲備 17 1,576 1,513

Other Reserves

投資重估儲備 8 5

Investment Revaluation Reserve

資金總額 10,228 10,156

TOTAL FUNDS

校董會於2015年9月23日核准本財務報表

Approved by the Council on 23 September 2015

大學司庫 John B. HARRISON Treasurer of the University

Tony F. CHAN President 綜合資產負債表(續) 2015年6月30日校長陳繁昌

CONSOLIDATED BALANCE SHEET (Cont'd)

夏理遜 AS AT 30 JUNE 2015 Mark HODGSON Vice-President for 賀致信副校長(行政)

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所得捐款及配對撥款儲備投資重估儲備資本儲備其他儲備資金總額 Total Funds 百萬元百萬元百萬元百萬元百萬元百萬元

$million $million $million $million $million $million

(附註16) (附註17) (附註17) (附註17)

(Note 16) (Note 17) (Note 17) (Note 17)

2014年7月1日之結餘 4,572 1,255 2,811 1,513 5 10,156

Balance as at 1 July 2014

年內全面收益 / (虧絀)總額

Total comprehensive income / (loss) for the year

本年度稅後(虧損) / 盈餘 0 0 (89) 84 0 (5)

(Deficit) / Surplus for the year after taxation

其他全面收益 / (虧絀)

Other comprehensive income / (loss)

於可供出售財務資產未實現之盈利 0 0 0 0 3 3

轉賬至綜合全面收益表 (220) 0 0 0 0 (220)

外幣換算之差額 1 0 1 (1) 0 1

(219) 0 (88) 83 3 (221)

轉撥自遞延收益 293 0 0 0 0 293

Transfer from Deferred Income

與資本支出有關之資金轉撥(附註16 / 24.14)

相當於添置物業、機器及設備及無形資產之款項 220 (2) (169) (49) 0 0

相當於折舊及攤銷之款項 (47) 4 14 29 0 0

173 2 (155) (20) 0 0

其他資金轉撥 0 0 0 0 0 0

Other inter-fund transfer

2015年6月30日之結餘 4,819 1,257 2,568 1,576 8 10,228

Balance as at 30 June 2015

綜合資金變動表

CONSOLIDATED STATEMENT OF CHANGES IN FUND BALANCES

Capital Reserves Other Reserves Investment Revaluation Reserve FOR THE YEAR ENDED 30 JUNE 2015

截至2015年6月30日止年度

UGC Block Grant Reserves

Inter-fund transfer in connection with capital expenditure (Notes 16 / 24.14) Donations and Matching Grants Reserves 教資會整筆撥款儲備

Transfer to consolidated statement of comprehensive income

Amounts equivalent to additions to Property, Plant and Equipment and Intangible Assets

Amounts equivalent to depreciation and amortisation charges

(14)

所得捐款及配對撥款儲備投資重估儲備資本儲備其他儲備資金總額 Total Funds 百萬元百萬元百萬元百萬元百萬元百萬元

(附註16) (附註17) (附註17) (附註17)

(Note 16) (Note 17) (Note 17) (Note 17)

2013年7月1日之結餘 4,395 1,125 2,625 1,315 4 9,464

Balance as at 1 July 2013

年內全面收益 / (虧絀)總額

Total comprehensive income / (loss) for the year

本年度稅後盈餘 0 126 272 204 0 602

Surplus for the year after taxation

其他全面收益 / (虧絀)

Other comprehensive income / (loss)

於可供出售財務資產未實現之盈利 0 0 0 0 1 1

轉賬至綜合全面收益表 (199) 0 0 0 0 (199)

外幣換算之差額 (2) 0 1 0 0 (1)

(201) 126 273 204 1 403

轉撥自遞延收益 289 0 0 0 0 289

Transfer from Deferred Income

與資本支出有關之資金轉撥(附註16 / 24.14)

相當於添置物業、機器及設備及無形資產之款項 128 (2) (110) (16) 0 0

相當於折舊及攤銷之款項 (39) 6 6 27 0 0

89 4 (104) 11 0 0

其他資金轉撥 0 0 17 (17) 0 0

Other inter-fund transfer

2014年6月30日之結餘 4,572 1,255 2,811 1,513 5 10,156

Amounts equivalent to additions to Property, Plant and Equipment and Intangible Assets

Amounts equivalent to depreciation and amortisation charges

CONSOLIDATED STATEMENT OF CHANGES IN FUND BALANCES (Cont'd)

Inter-fund transfer in connection with capital expenditure (Notes 16 / 24.14)

Transfer to consolidated statement of comprehensive income

FOR THE YEAR ENDED 30 JUNE 2015

Donations and Matching Grants Reserves UGC Block Grant Reserves 教資會整筆撥款儲備綜合資金變動表(續) Investment Revaluation Reserve Other Reserves Capital Reserves 截至2015年6月30日止年度

(15)

2015 2014

百萬元百萬元

$million $million

營運活動之現金流量

Cash Flows from Operating Activities

本年度稅前(虧損) / 盈餘 (5) 602

(Deficit) / Surplus for the year before taxation 調整:

Adjustments for:

折舊及攤銷 267 238

Depreciation and Amortisation

利息及投資收入 96 (562)

Interest and Investment Income

持至到期日財務資產折扣攤銷 0 (2)

Amortisation of discount on Held-to-Maturity Financial Assets

所佔聯營公司 / 合資企業的經營業績 0 (8)

Share of results of an Associate / a Joint Venture

轉撥自資本儲備 (220) (199)

Transfers from Capital Reserves

未計運作資本之變動前之營運現金流量 138 69

Operating cash flow before movements in working capital

存貨之減少 1 0

Decrease in Inventories

應收賬款及預付款項之減少 53 68

Decrease in Accounts Receivable and Prepayments

應付賬款及應計費用之增加 44 31

Increase in Accounts Payable and Accruals

遞延收益之增加 55 45

Increase in Deferred Income

教職員福利撥備之增加 9 16

Increase in Provision for Staff Benefits

營運活動淨現金流入 300 229

Net Cash Generated from Operating Activities

綜合現金流動表截至2015年6月30日止年度

CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2015

(16)

2015 2014

百萬元百萬元

投資活動之現金流量

Cash Flows from Investing Activities

購買物業、機器及設備 (442) (414)

Payment for purchase of Property, Plant and Equipment

購買無形資產 (4) (5)

Payment for purchase of Intangible Assets

原到期日超過三個月之定期存款之增加 (286) (675)

Increase in Bank Deposits with Original Maturity over Three Months

購買按公平值透過損益記賬之財務資產 (609) (1,165)

Purchase of Financial Assets at Fair Value through Profit or Loss

從持至到期日財務資產所得之贖回收入 6 910

Proceeds from redemption of Held-to-Maturity Financial Assets

出售按公平值透過損益記賬之財務資產之收入 601 236

Proceeds from sale of Financial Assets at Fair Value through Profit or Loss

已收取之利息及投資收入 41 57

Interest and investment income received

投資活動淨現金流出 (693) (1,056)

Net Cash Used in Investing Activities 融資活動之現金流量

Cash Flows from Financing Activities

用以購買物業、機器及設備及無形資產之資助及撥款及捐款收入 293 289

融資活動淨現金流入 293 289

Net Cash Generated from Financing Activities

現金及等同現金之淨減少 (100) (538)

Net Decrease in Cash and Cash Equivalents

年初之現金及等同現金 787 1,323

Cash and Cash Equivalents at the Beginning of the Year

匯兌變動之影響 0 2

Effect of Foreign Exchange Rate Changes

年終之現金及等同現金 687 787

Cash and Cash Equivalents at the End of the Year

Subventions and Grants and donations received for purchase of Property, Plant and Equipment and Intangible Assets

CONSOLIDATED STATEMENT OF CASH FLOWS (Cont'd) FOR THE YEAR ENDED 30 JUNE 2015

綜合現金流動表(續) 截至2015年6月30日止年度

(17)

1. 一般資料 1. GENERAL INFORMATION

2. 編制基準 2.

BASIS OF PREPARATION

大學之財務報表已另外編制。

大學之註冊地址及主要營運地點為香港清水灣。

Financial statements for the University have been prepared separately.

綜合財務報表附註

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

The Hong Kong University of Science and Technology is incorporated under The Hong Kong University of Science and Technology Ordinance (Chapter 1141, Laws of Hong Kong) as a technological university dedicated to the advancement of learning and scholarship, with special emphasis on research, postgraduate education, and close collaboration with business and industry. The principal activities and other particulars of the University's subsidiaries are set out in note 22.

編制符合香港財務報告準則的綜合財務報表需要使用若干關鍵的會計估算，亦需要管理層在應用集團會計政策的過程中運用其判斷。有關涉及高度的判斷或高度複雜性的範疇，又或綜合財務報表中需作重要假設及估算的範疇，已於附註23中披露。

The preparation of consolidated financial statements in conformity with HKFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the Group's accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements, are disclosed in note 23. The University's registered address and principal place of operation is Clear Water Bay, Hong Kong.

The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of Available-for-Sale Financial Assets and Financial Assets at Fair Value through Profit or Loss which are carried at fair value.

綜合財務報表乃按歷史成本法編制，並對可供出售財務資產以及按公平值透過損益記賬財務資產之公平值重估而作出修訂。綜合財務報表乃依據香港會計師公會頒佈之香港財務報告準則所編制。

These consolidated financial statements are presented in Hong Kong dollars ("HKD"), which is the Group's presentation currency. These consolidated financial statements were approved for issue by the Council on 23 September 2015.

The consolidated financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards ("HKFRS") issued by the Hong Kong Institute of Certified Public Accountants ("HKICPA").

綜合財務報表以港元呈覽，港元亦為本集團之呈報貨幣。本大學校董會於 2015年9月23日核准此綜合財務報表刊發。香港科技大學是在香港科技大學條例 (香港法例第一一四一章)下成立，為一間科學技術的大學，專注促進學習及學術，並特別在學術研究、研究生教育方面加以重視，以及與商業和工業界緊密合作。大學的附屬公司的主要活動及其他事項詳列於附註22內。

(18)

3. 分部收入及支出

INCOME AND EXPENDITURE BY SEGMENT (a) 綜合分部收支(按會計性質)

Consolidated Segment Income and Expenditure (By accounting nature)

非整筆撥款非整筆撥款教資會自負盈虧之資助之教資會自負盈虧之資助之整筆撥款持續進修科研活動整筆撥款持續進修科研活動資助活動教育活動分部間之資助活動教育活動分部間之交易抵銷交易抵銷其他活動其他活動小計總計淨總計小計總計淨總計

Sub-total Total Net Total Sub-total Total Net Total

百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元

$million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million

收入

Income

政府資助及撥款(附註3.1) 1,916 0 280 23 2,219 22 2,241 0 2,241 1,758 0 222 80 2,060 21 2,081 0 2,081

學費、課程及其他收費 541 489 0 0 1,030 0 1,030 0 1,030 522 426 0 0 948 0 948 0 948

利息及投資收入(附註3.2) (16) 0 0 (26) (42) (54) (96) 0 (96) 128 0 1 136 265 297 562 0 562

Interest and Investment Income (Note 3.2)

外界捐款 0 0 0 0 0 86 86 0 86 0 0 0 0 0 84 84 0 84

輔助服務及其他收入(附註3.3) 51 9 116 169 345 2 347 0 347 47 10 107 157 321 3 324 0 324

轉撥自資本儲備 89 0 19 69 177 43 220 0 220 84 0 15 57 156 43 199 0 199

間接費用收回 / 分部間之收入 86 4 0 114 204 1 205 (205) 0 77 6 0 112 195 3 198 (198) 0

Overhead Recovery / Inter-segment Income

2,667 502 415 349 3,933 100 4,033 (205) 3,828 2,616 442 345 542 3,945 451 4,396 (198) 4,198 開支(附註3.4)

Expenditure (Note 3.4)

薪金及福利 1,863 111 163 97 2,234 48 2,282 0 2,282 1,709 103 129 89 2,030 43 2,073 0 2,073

Salaries and Benefits

其他營運支出 706 145 168 183 1,202 82 1,284 0 1,284 684 139 146 239 1,208 85 1,293 0 1,293

Other Operating Expenses

折舊及攤銷 93 0 22 94 209 58 267 0 267 90 0 19 80 189 49 238 0 238

Depreciation and Amortisation

間接費用收回 / 分部間之開支 5 145 44 10 204 1 205 (205) 0 7 127 48 14 196 2 198 (198) 0

Overhead Recovery / Inter-segment Expenditure

2,667 401 397 384 3,849 189 4,038 (205) 3,833 2,490 369 342 422 3,623 179 3,802 (198) 3,604

本年度營運(虧損) / 盈餘 0 101 18 (35) 84 (89) (5) 0 (5) 126 73 3 120 322 272 594 0 594

所佔聯營公司的經營業績 0 0 0 1 1 0 1 0 1 0 0 0 8 8 0 8 0 8

所佔合資企業的經營業績 0 0 0 (1) (1) 0 (1) 0 (1) 0 0 0 0 0 0 0 0 0

本年度(虧損) / 盈餘 0 101 18 (35) 84 (89) (5) 0 (5) 126 73 3 128 330 272 602 0 602

(Deficit) / Surplus for the year

Auxiliary Services and Other Income (Note 3.3) Transfers from Capital Reserves

Tuition, Programmes and Other Fees Government Subventions and Grants (Note 3.1)

2015 2014 Inter-segment Transaction Elimination Donations and Related Activities Self-financing CPEP Activities Donations and Related Activities Self-financing CPEP Activities Other Activities Inter-segment Transaction Elimination Other Activities 所得捐款及有關活動 Non-Block Grant funded Research Activities UGC Block Grant -funded Activities UGC Block Grant -funded Activities Non-Block Grant funded Research Activities 所得捐款及有關活動

(19)

3. 分部收入及支出(續)

INCOME AND EXPENDITURE BY SEGMENT (Cont'd) (b) 綜合分部收支(按用途)

Consolidated Segment Income and Expenditure (By function)

非整筆撥款非整筆撥款教資會自負盈虧之資助之教資會自負盈虧之資助之整筆撥款持續進修科研活動整筆撥款持續進修科研活動資助活動教育活動分部間之資助活動教育活動分部間之交易抵銷交易抵銷其他活動其他活動小計總計淨總計小計總計淨總計

Sub-total Total Net Total Sub-total Total Net Total

百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元百萬元

$million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million $million

收入

Income

政府資助及撥款(附註3.1) 1,916 0 280 23 2,219 22 2,241 0 2,241 1,758 0 222 80 2,060 21 2,081 0 2,081

學費、課程及其他收費 541 489 0 0 1,030 0 1,030 0 1,030 522 426 0 0 948 0 948 0 948

利息及投資收入(附註3.2) (16) 0 0 (26) (42) (54) (96) 0 (96) 128 0 1 136 265 297 562 0 562

Interest and Investment Income (Note 3.2)

外界捐款 0 0 0 0 0 86 86 0 86 0 0 0 0 0 84 84 0 84

輔助服務及其他收入(附註3.3) 51 9 116 169 345 2 347 0 347 47 10 107 157 321 3 324 0 324

轉撥自資本儲備 89 0 19 69 177 43 220 0 220 84 0 15 57 156 43 199 0 199

間接費用收回 / 分部間之收入 86 4 0 114 204 1 205 (205) 0 77 6 0 112 195 3 198 (198) 0

Overhead Recovery / Inter-segment Income

2,667 502 415 349 3,933 100 4,033 (205) 3,828 2,616 442 345 542 3,945 451 4,396 (198) 4,198 開支(附註3.4)

Expenditure (Note 3.4)

學術及研究 Learning and Research

教學及研究 1,679 253 353 98 2,383 64 2,447 0 2,447 1,560 239 294 102 2,195 62 2,257 0 2,257

圖書館 / 中央電腦設備 / 其他教學服務 317 1 0 9 327 1 328 0 328 290 0 0 5 295 3 298 0 298

校務支援 Institutional Support

管理及一般事務 185 0 0 25 210 31 241 0 241 174 0 0 17 191 24 215 0 215

校舍及有關費用 388 1 0 106 495 53 548 0 548 371 1 0 168 540 47 587 0 587

學生及一般教育服務 93 1 0 104 198 39 237 0 237 88 2 0 86 176 41 217 0 217

其他活動 0 0 0 32 32 0 32 0 32 0 0 0 30 30 0 30 0 30

Other Activities

間接費用收回 / 分部間之開支 5 145 44 10 204 1 205 (205) 0 7 127 48 14 196 2 198 (198) 0

Overhead Recovery / Inter-segment Expenditure

2,667 401 397 384 3,849 189 4,038 (205) 3,833 2,490 369 342 422 3,623 179 3,802 (198) 3,604

本年度營運(虧損) / 盈餘 0 101 18 (35) 84 (89) (5) 0 (5) 126 73 3 120 322 272 594 0 594

所佔聯營公司的經營業績 0 0 0 1 1 0 1 0 1 0 0 0 8 8 0 8 0 8

所佔合資企業的經營業績 0 0 0 (1) (1) 0 (1) 0 (1) 0 0 0 0 0 0 0 0 0

本年度(虧損) / 盈餘 0 101 18 (35) 84 (89) (5) 0 (5) 126 73 3 128 330 272 602 0 602

(Deficit) / Surplus for the year 備註:

Remarks:

若干比較數字已予以重新分類以符合本年度之呈報方式。

Certain comparative figures have been reclassified to conform to current year's presentation.

Non-Block Grant funded Research Activities Self-financing CPEP Activities 2014 Inter-segment Transaction Elimination Donations and Related Activities Other Activities 所得捐款及有關活動

Library / Central Computing Facilities / Other Academic Services

Government Subventions and Grants (Note 3.1) Tuition, Programmes and Other Fees

Auxiliary Services and Other Income (Note 3.3) Transfers from Capital Reserves

2015 UGC Block Grant -funded Activities UGC Block Grant -funded Activities Non-Block Grant funded Research Activities Self-financing CPEP Activities Donations and Related Activities Inter-segment Transaction Elimination Other Activities 所得捐款及有關活動

(20)

3.1 政府資助及撥款

GOVERNMENT SUBVENTIONS AND GRANTS

教資會整筆非整筆撥款所得捐款及撥款資助活動資助之科研活動有關活動其他活動總計 Total 百萬元百萬元百萬元百萬元百萬元

$million $million $million $million $million

年度 / Year 2015

教資會整筆經常撥款及指定撥款(附註15) 1,872 167 23 0 2,062

配對撥款 0 0 0 22 22

Matching Grants

政府有關機構撥款(附註15) 0 113 0 0 113

Grants from Government Agencies (Note 15)

退還差餉及地租 44 0 0 0 44

Rates and Government Rent Refunds

1,916 280 23 22 2,241 年度 / Year 2014 教資會整筆經常撥款及指定撥款(附註15) 1,725 146 80 0 1,951 配對撥款 0 0 0 21 21 Matching Grants 政府有關機構撥款(附註15) 0 76 0 0 76

Grants from Government Agencies (Note 15)

退還差餉及地租 33 0 0 0 33

Rates and Government Rent Refunds

1,758 222 80 21 2,081

3.2 利息及投資收入

INTEREST AND INVESTMENT INCOME

2015 2014 百萬元百萬元 $million $million 利息收入 35 49 Interest income 按公平值透過損益記賬之財務資產之公平值變動 (132) 512

Change in fair value of Financial Assets at Fair Value through Profit or Loss

可供出售財務資產之投資收入 1 1

Investment income on Available-for-Sale Financial Assets

(96) 562

UGC Recurrent Block Grant and Earmarked Grants (Note 15) Donations and Related Activities Non-Block Grant funded Research Activities

UGC Recurrent Block Grant and Earmarked Grants (Note 15) UGC Block Grant-funded Activities Other Activities

(21)

3.3

輔助服務及其他收入

AUXILIARY SERVICES AND OTHER INCOME

教資會非整筆撥款整筆撥款自負盈虧之資助之資助活動持續進修科研活動所得捐款及教育活動有關活動其他活動總計 Total 百萬元百萬元百萬元百萬元百萬元百萬元

年度 / Year 2015 研究合約 0 0 83 0 0 83 Research Contract 學生宿舍 0 0 0 92 0 92 Residence Halls 租金收入 6 0 0 40 0 46 Rental Income 教職員繳納之租金 39 0 0 0 0 39

Rental Contribution from Staff

服務收費、項目收入及其他贊助 3 8 9 30 2 52

項目贊助(附註15) 0 0 22 0 0 22

Projects Sponsorships (Note 15)

雜項收入 3 1 2 7 0 13 Miscellaneous 51 9 116 169 2 347 年度 / Year 2014 研究合約 0 0 78 0 0 78 Research Contract 學生宿舍 0 0 0 91 0 91 Residence Halls 租金收入 6 0 0 42 0 48 Rental Income 教職員繳納之租金 36 0 0 0 0 36

Rental Contribution from Staff

服務收費、項目收入及其他贊助 3 9 4 22 3 41

項目贊助(附註15) 0 0 25 0 0 25

Projects Sponsorships (Note 15)

雜項收入 2 1 0 2 0 5

Miscellaneous

47 10 107 157 3 324

Services Fees, Workshop Income and Other Sponsorships

Services Fees, Workshop Income and Other Sponsorships Other Activities Donations and Related Activities Self-financing CPEP Activities Non-Block Grant funded Research Activities UGC Block Grant-funded Activities

(22)

3.4 開支 EXPENDITURE 其他營運支出折舊及攤銷薪酬及福利 Depreciation and 總計 Amortisation Total 百萬元百萬元百萬元百萬元

$million $million $million $million

年度 / Year 2015 學術及研究

Learning and Research

教學及研究 1,655 713 79 2,447

圖書館 58 45 1 104

Library

中央電腦設備 68 34 25 127

其他教學服務 82 13 2 97

小計 1,863 805 107 2,775

Sub-total

校務支援

Institutional Support

管理及一般事務 178 60 3 241

校舍及有關費用 149 243 156 548

學生及一般教育服務 89 147 1 237

其他活動 3 29 0 32 Other Activities 小計 419 479 160 1,058 Sub-total 總開支 2,282 1,284 267 3,833 Total Expenditure 年度 / Year 2014 學術及研究

Learning and Research

教學及研究 1,506 669 82 2,257

圖書館 53 45 1 99

Library

中央電腦設備 63 28 20 111

其他教學服務 73 14 1 88

小計 1,695 756 104 2,555

Sub-total

校務支援

Institutional Support

管理及一般事務 160 53 2 215

校舍及有關費用 138 318 131 587

學生及一般教育服務 77 139 1 217

其他活動 3 27 0 30 Other Activities 小計 378 537 134 1,049 Sub-total 總開支 2,073 1,293 238 3,604 Salaries and Benefits Other Operating Expenses

(23)

4. 高收入員工薪酬

REMUNERATION OF HIGHER PAID STAFF

2015

2014

年薪等值

Annual Equivalent Remuneration

HK$ 1,800,001 - 1,950,000 43 48 HK$ 1,950,001 - 2,100,000 43 44 HK$ 2,100,001 - 2,250,000 44 42 HK$ 2,250,001 - 2,400,000 41 36 HK$ 2,400,001 - 2,550,000 19 17 HK$ 2,550,001 - 2,700,000 23 15 HK$ 2,700,001 - 2,850,000 12 14 HK$ 2,850,001 - 3,000,000 8 4 HK$ 3,000,001 - 3,150,000 10 4 HK$ 3,150,001 - 3,300,000 4 2 HK$ 3,300,001 - 3,450,000 4 2 HK$ 3,450,001 - 3,600,000 4 0 HK$ 3,600,001 - 3,750,000 2 2 HK$ 3,750,001 - 3,900,000 1 1 HK$ 4,350,001 - 4,500,000 0 1 HK$ 4,500,001 - 4,650,000 0 1 HK$ 4,650,001 - 4,800,000 1 1 HK$ 4,950,001 - 5,100,000 1 0 HK$ 5,100,001 - 5,250,000 1 0 HK$ > 5,250,001 1 1

Number of Employees

薪俸包括薪金、約滿酬金、退休金計劃供款、集團所支付之顧問費用、房屋及其他津貼。獲大學提供宿舍者，其房屋福利以香港特別行政區政府差餉物業估價署評估其宿舍之應課差餉租值計算。

Remuneration includes salary, gratuity, contribution to retirement schemes, consultancy fees paid by the Group, housing and other benefits. For staff who are provided with quarters, their housing benefits are calculated by reference to the rateable values assessed by the Rating and Valuation Department of the Government of The Hong Kong Special Administrative Region.

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5. 稅項

TAXATION

集團沒有就其未獲豁免繳稅之中國附屬公司作出中國企業稅撥備(2014年：無)，因本年度並沒有應課稅之盈利。本集團有關利得稅之計算稅項有別於採用集團本年度營運虧損 / 盈餘計算之稅率分析如下： 2015 2014 百萬元百萬元 $million $million 本年度營運(虧損) / 盈餘 (5) 594

(Deficit) / Surplus from operation for the year

按稅率16.5% (2014：16.5%) 計算之稅項 (1) 98

Tax calculated at a tax rate of 16.5% (2014: 16.5%)

無需課稅收入的稅務影響 (607) (673)

Tax effect of non-taxable income

不可扣減支出的稅務影響 611 573

Tax effect of non-deductible expenses

其他差額 (3) 2

Other differences

稅項 0 0

Taxation charge

Deferred income tax assets are recognised for tax losses carried forward to the extent that the realisation of the related tax benefit through future taxable profits is probable. The PRC subsidiaries of the Group have not recognised deferred income tax assets of approximately $20.1 million (2014: $23.7 million) in respect of cumulative losses amounting to approximately $80.4 million (2014: $96.2 million). The tax losses for the PRC subsidiaries will expire on various dates up to 2020. The unrecognised tax loss of approximately $2.9 million (2014: $4.8 million) for a Hong Kong subsidiary has no expiry date.

大學及其一香港附屬公司均根據香港稅務條例第88條之規定獲豁免繳付稅項，因此不需作出撥備。

No People's Republic of China ("PRC") enterprise income tax has been provided (2014: Nil) for non-tax exempt PRC subsidiaries as there are no assessable profits for the year.

The tax on the deficit / surplus from operation for the year differs from the theoretical amount that would arise using the tax rate applicable to the surplus of the Group as follows:

當累積稅項虧損有可能經未來應課稅盈利而帶來利益，集團才確認遞延稅項資產。本集團之中國附屬公司未有確認之遞延稅項資產為約20,100,000元(2014年：23,700,000元)，其來自累積虧損約80,400,000元(2014年：96,200,000元)。該筆中國附屬公司稅項虧損將逐步於2020年前期間到期。香港一附屬公司之未確認稅項虧損為約2,900,000元(2014 年：4,800,000元)並沒有期限。

No Hong Kong profits tax has been provided (2014: Nil) for a non-tax exempt subsidiary in Hong Kong as that subsidiary has sufficient tax losses brought forward to offset against estimated assessable profits for the year. No taxation is provided for the operation of the University and one of its subsidiaries in Hong Kong, which are exempt from taxation by virtue of Section 88 of the Inland Revenue Ordinance.

集團沒有就其一未獲豁免繳稅之香港附屬公司作出香港利得稅撥備(2014年：無)，因該附屬公司有足夠的稅項虧損以抵銷本年度預計應課稅之盈利。

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6. 物業、機器及設備

PROPERTY, PLANT AND EQUIPMENT

在建工程傢具及設備

樓宇總計

Buildings Total

百萬元百萬元百萬元百萬元百萬元

成本 COST 2013年6月30日之結餘 5,729 249 0 1,842 7,820 Balance as at 30 June 2013 添置 17 268 0 127 412 Additions 撇減 0 0 0 (65) (65) Disposals 匯兌差額 (2) 0 0 (1) (3)

Exchange translation difference

2014年6月30日之結餘 5,744 517 0 1,903 8,164 Balance as at 30 June 2014 添置 11 255 94 149 509 Additions 轉撥 509 (660) 151 0 0 Transfers 撇減 0 0 0 (58) (58) Disposals 匯兌差額 1 0 0 0 1

2015年6月30日之結餘 6,265 112 245 1,994 8,616 Balance as at 30 June 2015 累積折舊 ACCUMULATED DEPRECIATION 2013年6月30日之結餘 1,779 0 0 1,680 3,459 Balance as at 30 June 2013 本年度計算之折舊 116 0 0 104 220

Charge for the year

撇減 0 0 0 (65) (65)

Disposals

匯兌差額 0 0 0 (1) (1)

2014年6月30日之結餘 1,895 0 0 1,718 3,613

本年度計算之折舊 125 0 12 111 248

Charge for the year

撇減 0 0 0 (58) (58)

Disposals

匯兌差額 0 0 0 0 0

2015年6月30日之結餘 2,020 0 12 1,771 3,803

Balance as at 30 June 2015 賬面淨值

NET BOOK VALUE

2015年6月30日之結餘 4,245 112 233 223 4,813

2014年6月30日之結餘 3,849 517 0 185 4,551

以上之物業、機器及設備按直線法依照下列年率計算折舊：

The above items of property, plant and equipment are depreciated on a straight-line basis at the following rates per annum:

樓宇裝修、大型設備及設備系統每年5%

5% per annum

傢具及設備每年20% - 25 %

Fixtures and equipment 20% - 25% per annum

大學校舍座落於西貢約60公頃之土地，由香港特別行政區政府(「香港特區政府」)按名義租金批出，為期58年，至2047年6月30日止。校園樓宇按直線法依照每年2%計算折舊。 Construction in progress Fixtures and equipment 樓宇裝修、大型設備及設備系統 Building improvements, major equipment and services systems

Building improvements, major equipment and services systems

在2012年12月21日，香港特區政府按名義租金及以370：150之比例批予大學及香港浸會大學(「浸大」)一幅位於將軍澳約3,490平方米之土地作為興建一座合辦學生宿舍之用，為期50年，至2062年12月20日止。根據兩位受批者於2015年4月23日所簽下的撤銷合同中，浸大退出該項合建項目，以及雙方同意以無代價轉讓及分配由浸大所持有該土地的所有權利、產權及權益給大學。待發出新的批地証之際，大學於以上提及的合同簽訂日起已被視作為獨自擁有該項物業之所有權益。

On 21 December 2012, a piece of land situated in Tseung Kwan O of approximately 3,490 square metres was granted to the University and The Hong Kong Baptist University ("BU") in the proportion of 370:150 by the Government of the HKSAR at a nominal rent for the construction of a joint student hostel for a lease of 50 years up to 20 December 2062. Pursuant to the Cancellation Agreement signed by both grantees on 23 April 2015, BU withdrew from the joint construction project and both parties agreed the transfer and assignment of all the rights, title and interest in the land held by BU to the University at nil consideration. Pending issue of the new land grant, the University is deemed to have possession of the sole ownership of the property with effect from the aforesaid agreement signing date.

The University campus is situated on approximately 60 hectares of land in Sai Kung under lease from the Government of The Hong Kong Special Administrative Region ("HKSAR") at a nominal rent for 58 years through 30 June 2047. The campus buildings are depreciated on a straight-line basis at 2% per annum.

A piece of land situated at Shenzhen of approximately 7,437 square metres was granted at a nominal amount to HKUST R&D Corporation (Shenzhen) Limited, a subsidiary of the Group, by the Shenzhen Municipal Government for the construction of an Industry-Education-Research base for 50 years through 28 June 2057. The respective building is depreciated over the remaining lease term.

深圳市政府按名義租金批予集團其中一間附屬公司 ─ 港科大研究開發(深圳)有限公司一幅位於深圳約7,437平方米之土地作為興建產學研基地之用，為期50年，至2057年6月28日止。該等樓宇按餘下租約年期計算折舊。

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7. 無形資產 INTANGIBLE ASSETS 電腦軟件百萬元 $million 成本 COST 2013年6月30日之結餘 98 Balance as at 30 June 2013 添置 5 Additions 撇減 (6) Disposals 2014年6月30日之結餘 97 Balance as at 30 June 2014 添置 4 Additions 撇減 0 Disposals 2015年6月30日之結餘 101 Balance as at 30 June 2015 攤銷 AMORTISATION 2013年6月30日之結餘 64 Balance as at 30 June 2013 本年度計算之攤銷 18

Amortisation charge for the year

撇減 (6)

Disposals

2014年6月30日之結餘 76

本年度計算之攤銷 19

Amortisation charge for the year

撇減 0

Disposals

2015年6月30日之結餘 95

Balance as at 30 June 2015 賬面淨值

NET BOOK VALUE

2015年6月30日之結餘 6

Computer Software

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8. 財務資產 FINANCIAL ASSETS 2015 2014 百萬元百萬元 $million $million 持至到期日財務資產，按攤銷成本

Held-to-Maturity Financial Assets, at amortised cost

上市 2 4 Listed 非上市 106 109 Unlisted 108 113 於一年內到期 37 5

Maturing within one year

於一年後到期 71 108

Maturing after one year

108 113

按公平值透過損益記賬之財務資產(附註a)

Financial Assets at Fair Value through Profit or Loss (Note a)

上市股權基金 1,150 1,455

Listed Equity Funds

非上市股權基金 941 634

Unlisted Equity Funds

上市固定收入基金 0 324

Listed Fixed Income Funds

非上市固定收入基金 1,108 818

Unlisted Fixed Income Funds

非上市實物基金 552 667

Unlisted Real Assets Funds

非上市對沖基金 407 392

Unlisted Hedge Funds

非上市私人投資 13 5

Unlisted Private Investment

4,171 4,295

可供出售財務資產

Available-for-Sale Financial Assets

非上市股權證券，按成本(附註b) 1 1

Unlisted Equity Securities, at cost (Note b)

上市股權證券，按市值 21 18

Listed Equity Securities, at market value

22 19

財務資產主要以港元及美元為單位。

Financial assets are mainly denominated in Hong Kong dollars and United States dollars.

附註 :

Notes :

(a) 公平值乃參考活躍市場或基金經理報價釐定。

The fair value was determined by reference to bid prices quoted in active markets or by fund managers.

(b)

The unlisted available-for-sale equity securities at cost represent an investment in an unlisted equity security issued by a private entity. It is measured at cost less impairment at each balance sheet date. The range of reasonable fair values of the asset is quite wide. Management of the Group is of the opinion that its fair value cannot be measured reliably.

由私人公司發行之非上市股權證券乃按成本扣除結算日減值計量，原因為合理公平值之估計範圍太大，集團管理層認為其公平值不能可靠計量。

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9. 於聯營公司權益

INTEREST IN AN ASSOCIATE

2015 2014 百萬元百萬元 $million $million 所佔淨資產 64 66

Share of net assets

擁有權益

業務 Proportion of

架構模式 Nominal Value of

Form of Issued Capital 持有股本類別

Business Held by Class of 主要活動

Structure the Group Shares Held Principal Activity

深港產學研基地事業法人單位 33% 注入資本

2015 2014

百萬元百萬元

下文載列為聯營公司之財務資料概要：

The summarised financial information in respect of the associate is set out below:

總資產 244 246 Total assets 總負債 (50) (46) Total liabilities 資產淨值 194 200 Net assets 集團應佔聯營公司之資產淨值 64 66

Group's share of net assets of the associate

營業額 40 42

Turnover

本年度溢利 2 24

Profit for the year

集團年內應佔聯營公司業績 1 8

Group's share of results of the associate for the year

To engage in technology commercialization, incubation of start-up companies, provision of research and technology management services, training of senior management and administrative executives. Capital Contribution 註冊及營運地點 Place of Incorporation 致力於科技商業化，培育新公司，提供研究和技術管理服務，培訓高級管理人員及行政專才。 and Operation 中華人民共和國 Institutional Organization People's Republic of China 聯營公司名稱 PKU-HKUST Shenzhen-Hong Kong Institution Name of Associate

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10. 於合資企業權益

INTEREST IN A JOINT VENTURE

2015 2014

百萬元百萬元

所佔淨資產(附註) (1) 0

Share of net assets (Note)

擁有股權

註冊及營運地點 Proportion of

業務架構模式 Place of Nominal Value

Form of Incorporation 持有股本類別 of Issued Percentage of 業務性質

Business and Class of Capital Held by Voting Power Structure Operation Shares Held the Group of the Board

中外合資中華人民共和國注入資本 51% 60%

附註： Note:

本集團有責任補足該合資企業的虧損。

The Group has an obligation to make up the losses of the joint venture.

Nature of Business People's Republic of China Capital contribution

The Group holds 51% of the share capital of ZAMI and has appointed 3 out of 5 directors on the Board representing 60% of voting power of the Board. However, under the memorandum and articles of association and shareholders' agreement of ZAMI, all significant events including financial and operating policies must be mutually agreed by the Group and the other significant shareholder. Therefore, ZAMI is classified as a joint venture of the Group.

Sino-foreign joint venture 集團持有“浙江港科大”之51%股權，並於5席之董事局內佔有3席，相當於60%之投票權。但是，根據“浙江港科大”之公司章程及股東協議，所有重大之事項包括財務及營運之決策必須得到集團及另一主要股東一致決議通過，因此，集團把“浙江港科大”歸類為合資企業。促進製造業的研究工作 Zhejiang Advanced Manufacturing Institute of HKUST Co. Ltd. ("ZAMI") 於董事局之投票權合資企業名稱

Name of Joint Venture

浙江港科大先進製造研究所有限公司(「浙江港科大」) Promotion of research for manufacturing business

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11. 應收賬款及預付款項

ACCOUNTS RECEIVABLE AND PREPAYMENTS

2015 2014

百萬元百萬元

預付款項及按金 33 26

Prepayments and Deposits

應收賬款 169 231

Accounts Receivable

202 257

 應收賬款於發出通知後須立即償還。

Accounts receivable are repayable on demand. 

 應收賬款主要以港元為單位。

The accounts receivable are mainly denominated in Hong Kong dollars.

在衡量應收賬款之還款能力時，集團考慮其由給予信貸日至報告日期間之信貸質素變化。已過期而無作減值撥備之應收賬款已於本報告日前清付或相關應收賬款過往並無拖欠還款。故此，校董會認為無需就應收賬款作減值撥備，本集團並無就該等結餘持有任何抵押。

In determining the recoverability of accounts receivable, the Group considers any change in the credit quality of the accounts receivable from the date credit was initially granted up to the financial statements' report date. The accounts receivable past due but not provided for were either subsequently settled as at the date of this report or without historical default of payments by the respective debtor. Accordingly, the Council believes that there is no impairment provision required on these accounts receivable as at the balance sheet date. The Group does not hold any collateral over these balances.

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12. 現金及等同現金

CASH AND CASH EQUIVALENTS

2015 2014

百萬元百萬元

原到期日為三個月或以下之定期存款 520 599

Bank Deposits with Original Maturity within Three Months

現金及銀行結餘 167 188

Cash at Banks and in Hand

687 787

13. 應付賬款及應計費用

ACCOUNTS PAYABLE AND ACCRUALS

2015 2014

百萬元百萬元

應付賬款及應計費用 660 547

Accounts Payable and Accruals

應付賬款及應計費用主要以港元為單位。

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14. 教職員福利撥備

PROVISION FOR STAFF BENEFITS

2015

2014

百萬元百萬元

$million

退職金

79

74 Gratuities

代假期金及其他

106

102 Leave Pay and Others

185

176

應付於：

Payable:

一年內

163

154 Within 1 year

一年後

22

22 After 1 year

185

176

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15. 遞延收益 DEFERRED INCOME 教資會非整筆撥款整筆撥款資助之資助活動科研活動所得捐款及有關活動其他活動總計 Total 百萬元百萬元百萬元百萬元百萬元

2013年6月30日之結餘 0 362 169 28 559

Balance as at 30 June 2013 已收 / 應收之款項

Amount received / receivable

- 承諾捐款(附註18) 0 0 0 13 13

Pledged Donations (Note 18)

- 其他 1,804 305 272 2 2,383

Others 計入綜合全面收益表

Credited to consolidated statement of comprehensive income

- 政府資助及撥款(附註3.1) (1,725) (222) (80) 0 (2,027)

Government Subventions and Grants (Note 3.1)

- 項目贊助(附註3.3)或捐款 0 (25) 0 (9) (34)

Projects Sponsorships (Note 3.3) or Donations

(1,725) (247) (80) (9) (2,061) 轉至資本儲備(附註16) (79) (25) (177) (8) (289) 外幣換算之差額 0 (1) 0 0 (1) 2014年6月30日之結餘 0 394 184 26 604 Balance as at 30 June 2014 已收 / 應收之款項

Amount received / receivable

- 承諾捐款(附註18) 0 0 0 38 38

Pledged Donations (Note 18)

- 其他 1,968 311 239 0 2,518

Others 計入綜合全面收益表

Credited to consolidated statement of comprehensive income

- 政府資助及撥款(附註3.1) (1,872) (280) (23) 0 (2,175)

Government Subventions and Grants (Note 3.1)

- 項目贊助(附註3.3)或捐款 0 (22) 0 (11) (33)

Projects Sponsorships (Note 3.3) or Donations

(1,872) (302) (23) (11) (2,208) 轉至資本儲備(附註16) (96) (41) (150) (6) (293) 外幣換算之差額 0 0 0 0 0 2015年6月30日之結餘 0 362 250 47 659 Balance as at 30 June 2015 Other Activities Donations and Related Activities

Transfer to Capital Reserves (Note 16)

Non-Block Grant funded Research Activities UGC Block Grant -funded Activities

Financial Statements for the Year Ended 30 June 2015