Haier 2007 Annual Report Download - page 163

162
Haier Electronics Group Co., Ltd. Annual Report 2007 海爾電器集團有限公司 二零零七年年報
Notes to Financial Statements
財務報表附註
31 December 2007
二零零七年十二月三十一日
39. Financial Risk Management Objectives
and Policies (Cont’d)
Capital management
The primary objective of the Group’s capital
management is to safeguard the Group’s ability to
continue as a going concern and to maintain healthy
capital ratios in order to support its business and
maximise shareholder value.
The Group manages its capital structure and
makes adjustments to it, in light of changes
in economic conditions. To maintain or adjust
the capital structure, the Group may adjust the
dividend payment to shareholders, return capital
to shareholders or issue new shares. The Group
is not subject to any externally imposed capital
requirements. No changes were made in the
objectives, policies or processes during the years
ended 31 December 2007 and 31 December 2006.
The Group monitors capital using a gearing ratio,
which is total debt divided by the total equity. The
Group’s policy is to maintain the gearing ratio not
exceeding 100%. Total debt includes interest-bearing
borrowings and convertible notes. The gearing ratios
as at the balance sheet dates were as follows:
Group
2007 2006
二零零七年 二零零六年
HK$’000 HK$’000
千港元 千港元
Interest-bearing borrowings 計息借貸 214,973 136,800
Convertible notes 可換股票據 169,344 161,665
Total debt 債務總值 384,317 298,465
Total equity 權益總值 942,124 798,567
Gearing ratio 負債資本比率 41% 37%
39. 財務風險管理目標及政策
（續）
資本管理
本集團資本管理之主要目標在於維持本集團
持續經營之能力及維持穩健資本比率，以支
持其業務及為股東爭取最高價值。
本集團根據經濟狀況變動管理及調整其資本
架構。為維持或調整資本架構，本集團可能
調整向股東派付之股息、向股東退還資本或
發行新股。本集團不受任何外在施加資本要
求所規限。截至二零零七年十二月三十一日
及二零零六年十二月三十一日止年度，有關
目標、政策或程序並無變動。
本集團採用負債資本比率（即債務總值除權
益總值）監控資本。本集團之政策為維持負
債資本比率不超過100%。債務淨額包括計
息借貸及可換股票據。於結算日，負債資本
比率如下：
本集團