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 : 768flat b, 16th floor, wah kit commercial centre300 des voeux road central, hong kongtel: 852 3575 9396香港德輔道中300號華傑商業中心16樓b室電話：852 3575 9396uba investments limited開明投資有限公司annual report2023 年報uba investments limited開明投資有限公司annual report 2023 年報 corporate informationmanagement discussion and analysisprofile of directorsreport of the directorscorporate governance reportenvironmental, social and governance reportindependent auditor’s 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 22董事會報告 25企業管治報告 37環境、社會及管治報告 55獨立核數師報告 68綜合損益表及其他全面收益表 74 綜合財務狀況表 75綜合權益變動表 76綜合現金流動表 77綜合財務報表附註 78contents目錄 corporate information公司資料uba investments limited 開明投資有限公司2board of directorsexecutive directorsdr. wong yun kuen (chairman)mr. cheng wai lun, andrewmr. chau wai hingindependent non-executive directorsmr. kwok ming fai, cpadr. fung lewis hungmr. tang hon bui, ronaldcompany secretarymr. leung man lai, cpaauditorsasian alliance (hk) cpa limitedcertified public accountants (practising)audit committeemr. kwok ming fai, cpa (chairman)dr. fung lewis hungmr. tang hon bui, ronaldremuneration committeemr. kwok ming fai, cpa (chairman)dr. fung lewis hungmr. tang hon bui, ronaldmr. cheng wai lun, andrewnomination committeemr. kwok ming fai, cpa (chairman)dr. fung lewis hungmr. tang hon bui, ronaldmr. cheng wai lun, andrewprincipal bankerocbc wing hang bank, limited董事會執行董事黃潤權博士（主席）鄭偉倫先生周偉興先生獨立非執行董事郭明輝先生，cpa馮振雄醫生鄧漢標先生公司秘書梁文禮先生，cpa核數師華融（香港）會計師事務所有限公司執業會計師審核委員會郭明輝先生，cpa（主席）馮振雄醫生鄧漢標先生薪酬委員會郭明輝先生，cpa（主席）馮振雄醫生鄧漢標先生鄭偉倫先生提名委員會郭明輝先生，cpa（主席）馮振雄醫生鄧漢標先生鄭偉倫先生主要往來銀行華僑永亨銀行有限公司 corporate information公司資料annual report 2023 年報3stock codehong kong stock exchange: 768websitehttp://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 limited17th floor,far east finance centre,no. 16 harcourt road, hong kong股票代號香港聯合交易所：768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夏愨道16號遠東金融中心17樓 management discussion and analysis管理層討論與分析uba investments limited 開明投資有限公司4business reviewfor the year ended 31 march 2023, uba investments limited and its subsidiaries (the “group”) recorded a loss of approximately hk$14.4 million (2022: hk$0.13 million) made up of realised and unrealised loss of hk$0.55 million and hk$11.9 million respectively in relation to the listed securities (2022: realised gain and unrealised loss of hk$0.7 million and hk$2.4 million respectively), and unrealised loss of hk$0.9 million in relation to the unlisted equity investment (2022: unrealised gain of hk$1.85 million). the loss per share was hk$0.0113 (2022: hk$0.0001).gross proceeds from disposal of trading securities increased by 100% from hk$10.4 million to hk$20.9 million and the group made some yield enhancement swap investment under the present uncertainty of the macroeconomic environment which was mainly affected by interest rate hike in the u.s. during the year. also, we would like to minimize potential loss from these highly volatile stock markets, as the group must be prudent and maintain those high yield blue chip securities in order to generate dividends for operations and sufficient funds to meet coming investment opportunities. therefore, it was not in line with the decreasing market turnover of approximately 19% in the hang seng index (“hsi”) compared with that of last year. as at 31 march 2023, the net asset value decreased by 14% from hk$104.6 million to hk$90.1 million, in line with the decrement of 7% of the hsi during this year.throughout the corresponding period, the global and local equity markets had experienced intense volatility. the group’s proactive investment strategy was to maximize profit for shareholders, through investment in listed securities with relatively high yield, especially the banking and telecommunications sectors which contributed 80