Haier 2008 Annual Report Download - page 144
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Annual Report 2008
二零零八年年報
海爾電器集團有限公司
Haier Electronics Group Co., Ltd
142
Notes to Financial Statements
財務報表附註
31 December 2008
二零零八年十二月三十一日
36. Financial Risk Management Objectives and
Policies (Cont’d)
Capital management
The primary objectives of the Group’s capital management are 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 shareholders 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 for managing capital during the years ended
31 December 2008 and 31 December 2007.
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
2008 2007
二零零八年 二零零七年
HK$’000 HK$’000
千港元 千港元
Interest-bearing borrowings 計息借貸 162,420 214,973
Convertible notes 可換股票據 – 169,344
Total debt 債務總值 162,420 384,317
Total equity 權益總值 1,269,095 942,124
Gearing ratio 負債資本比率 13% 41%
36. 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。截至二零零八年十二月三十一日及二零零
七年十二月三十一日止年度，有關資本管理目
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%。債務總值包括計息借貸及可
換股票據。於結算日，負債資本比率如下：
本集團
56432.27c!Opuft/joee!!!25356432.27c!Opuft/joee!!!253 33050311:!!!5;25;6:33050311:!!!5;25;6: