uba investments limited開明投資有限公司(incorporated in the cayman islands with limited liability)（於開曼群島註冊成立之有限公司）stock code 股份代號 : 768annual report2021年報 corporate informationmanagement discussion and analysisprofile of directorsreport of the directorscorporate governance reportenvironmental, social and governance reportindependent auditors’ reportconsolidated statement of profit or loss and other comprehensive incomeconsolidated statement of financial positionconsolidated statement of changes in equityconsolidated statement of cash flowsnotes to the consolidated financial statements公司資料 2管理層討論與分析 4董事會人員資料 24董事會報告 27企業管治報告 39環境、社會及管治報告 56獨立核數師報告 69綜合損益表及其他全面收益表 76 綜合財務狀況表 77綜合權益變動表 78綜合現金流動表 79綜合財務報表附註 80contents目錄 uba investments limited 開明投資有限公司corporate information公司資料2board of directorsexecutive directorsdr. wong yun kuen (chairman)mr. cheng wai lun, andrewindependent non-executive directorsmr. chan chung yee, alan, cpadr. fung lewis hungmr. tang hon bui, ronaldmr. kwok ming fai, cpacompany secretarymr. leung man lai, cpaauditorshlb hodgson impey cheng limitedcertified public accountantsaudit committeemr. chan chung yee, alan, cpa (chairman)dr. fung lewis hungmr. tang hon bui, ronaldmr. kwok ming fai, cparemuneration committeemr. chan chung yee, alan, cpa (chairman)dr. fung lewis hungmr. tang hon bui, ronaldmr. kwok ming fai, cpamr. cheng wai lun, andrewnomination committeemr. chan chung yee, alan, cpa (chairman)dr. fung lewis hungmr. tang hon bui, ronaldmr. kwok ming fai, cpamr. cheng wai lun, andrewprincipal bankerocbc wing hang bank, limitedstock codehong kong stock exchange: 768董事會執行董事黃潤權博士（主席）鄭偉倫先生獨立非執行董事陳宗彝先生，cpa馮振雄醫生鄧漢標先生郭明輝先生，cpa公司秘書梁文禮先生，cpa核數師國衛會計師事務所有限公司執業會計師審核委員會陳宗彝先生，cpa（主席）馮振雄醫生鄧漢標先生郭明輝先生，cpa薪酬委員會陳宗彝先生，cpa（主席）馮振雄醫生鄧漢標先生郭明輝先生，cpa鄭偉倫先生提名委員會陳宗彝先生，cpa（主席）馮振雄醫生鄧漢標先生郭明輝先生，cpa鄭偉倫先生主要往來銀行華僑永亨銀行有限公司股票代號香港聯合交易所：768 annual report 2021 年報corporate information公司資料3websitehttp://www.uba.com.hkinvestment managerupbest assets management limitedprincipal place of business in hong kongflat b, 16th floor, wah kit commercial centre300 des voeux road centralhong kongregistered officep.o. box 309ugland house grand cayman ky1-1104cayman islandscayman islands principal registrarsuntera (cayman) limitedsuite 3204, unit 2a, block 3,building d, p.o. box 1586,gradenia court, camana bay,grand cayman, ky1-1100cayman islandshong kong branch registrartricor standard limitedlevel 54, hopewell centre183 queen’s road easthong kong網址http://www.uba.com.hk投資經理美建管理有限公司香港主要營業地點香港德輔道中300號華傑商業中心16樓b室註冊辦事處p.o. box 309ugland house grand cayman ky1-1104cayman islands開曼群島主要股份過戶登記處suntera (cayman) limitedsuite 3204, unit 2a, block 3,building d, p.o. box 1586,gradenia court, camana bay,grand cayman, ky1-1100cayman islands香港股份過戶登記分處卓佳標準有限公司香港皇后大道東183號合和中心54樓 uba investments limited 開明投資有限公司4management discussion and analysis管理層討論與分析business reviewfor the year ended 31st march, 2021, uba investments limited and its subsidiaries (the “group”) recorded a loss attributable to owners of approximately hk$8.7 million (2020: hk$44.5 million) of which unrealised loss of hk$0.85 million (2020: unrealised loss hk$37.8 million) in relation to the listed securities and realised and unrealised loss of hk$5.3 million and hk$2.1 million respectively (2020: unrealised loss hk$4.1 million) in relation to the unlisted equity investment. the loss per share was hk$0.0068 (2020: hk$0.035). gross proceeds from disposal of trading securities significantly decreased 85% from hk$17.6 million to hk$2.6 million as the group reduced the investment proportion on trading listed securities under the uncertainty of economic environment affected by covid-19 pandemic during the period. in order to minimize the potential loss generated in the highly volatile stock markets under the covid-19, the group needs to be prudent and kept those high yield and blue chip listed securities in order to generate dividend for operations and sufficient fund for the coming investment opportunities. therefore, it was not in line with the increasing transaction volume of approximately 67% in hang seng index (“hsi”) compared with last year. as at 31st march, 2021, the net assets of the group were approximately hk$104.7million (2020: hk$113.4 million). the net assets decreased by 7.7% when compared with last year, which is not in line with the increase of 20% in hsi during this year mainly due to the realised loss on disposal of unlisted equity investment amount hk$ 5.3 million and unrealised loss on unlisted equity investment amount hk2.1 million. in addition, it was because the increase of share price of those high yield listed securities kept by the group underperformed hsi.during the corresponding period, the global and local equity markets had experienced intense volatility. the group’s proactive investment strategy was to maximi