2017 I n t e r i m R e p o r t 中 期 报 告 (Incorporated in the Cayman Islands with limited liability) CORPORATE INFORMATION 公司资料 2 ABBREVIATIONS 简称 4 MANAGEMENT DISCUSSION AND ANALYSIS 管理层讨论及分析 5 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 简明综合损益及其他全面收益表 13 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 简明综合财务状况表 14 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 简明综合权益变动表 16 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 简明综合现金流量表 17 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 简明综合中期财务报表附注 18 OTHER INFORMATION 其他资料 43 CONTENTS 目录 2 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 CORPORATE INFORMATION 公司资料 BOARD OF DIRECTORS Executive Directors Mr. Zhao Wenqing (Chairman) Mr. Huang Dongfeng (Chief Executive Officer) (appointed on 27 January 2017) Mr. Sue Ka Lok Ms. Chan Yuk Yee Mr. Yiu Chun Kong Mr. Zhu Kai Independent Non-executive Directors Mr. To Yan Ming, Edmond Mr. Pun Chi Ping Ms. Leung Pik Har, Christine Company Secretary Ms. Chan Yuk Yee Audit Committee Mr. To Yan Ming, Edmond (Chairman) Mr. Pun Chi Ping Ms. Leung Pik Har, Christine Remuneration Committee Mr. Pun Chi Ping (Chairman) Mr. To Yan Ming, Edmond Ms. Leung Pik Har, Christine Nomination Committee Ms. Leung Pik Har, Christine (Chairlady) Mr. To Yan Ming, Edmond Mr. Pun Chi Ping 董事会 执行董事 赵文清先生 （ 主席） 黄东风先生 （ 行政总裁） （ 於2017年1月27日获委任） 苏家乐先生 陈玉仪女士 姚震港先生 朱楷先生 独立非执行董事 杜恩鸣先生 潘治平先生 梁碧霞女士 公司秘书 陈玉仪女士 审核委员会 杜恩鸣先生 （ 主席） 潘治平先生 梁碧霞女士 薪酬委员会 潘治平先生 （ 主席） 杜恩鸣先生 梁碧霞女士 提名委员会 梁碧霞女士 （ 主席） 杜恩鸣先生 潘治平先生 CORPORATE INFORMATION 公司资料 中期报告 INTERIM REPORT 2017 3 CORPORATE INFORMATION (Continued) 公司资料 （ 续） Principal Place of Business in Hong Kong Room 1200, 12th Floor, Wing On Centre, 111 Connaught Road Central, Sheung Wan, Hong Kong Registered Office 4th Floor, Harbour Place, 103 South Church Street, George Town, P. O. Box 10240, Grand Cayman KY1-1002, Cayman Islands Share Registrar Principal share registrar and transfer office Harneys Services (Cayman) Limited 4th Floor, Harbour Place, 103 South Church Street, George Town, P. O. Box 10240, Grand Cayman KY1-1002, Cayman Islands Hong Kong branch share registrar and transfer office Tricor Tengis Limited Level 22, Hopewell Centre, 183 Queen’s Road East, Hong Kong Company Website http://www.bihl.com.hk Legal Advisers to the Company As to Hong Kong law Locke Lord As to Cayman Islands law Harney Westwood & Riegels, Cayman Principal Bankers Bank of Communications Co., Ltd. Hong Kong Branch The Hongkong and Shanghai Banking Corporation Limited Stock Code 2309 The above information is updated to 27 February 2017, being the date of this interim report. 香港主要营业地点 香港上环 干诺道中111号 永安中心 12楼1200室 注册办事处 4th Floor, Harbour Place, 103 South Church Street, George Town, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands 股份登记处 股份过户登记总处 Harneys Services (Cayman) Limited 4th Floor, Harbour Place, 103 South Church Street, George Town, P.O. Box 10240, Grand Cayman KY1-1002, Cayman Islands 香港股份过户登记分处 卓佳登捷时有限公司 香港 皇后大道东183号 合和中心22楼 公司网站 http://www.bihl.com.hk 本公司之法律顾问 有关香港法律 洛克律师事务所 有关开曼群岛法律 Harney Westwood & Riegels, Cayman 主要往来银行 交通银行股份有限公司香港分行 香港上海�蠓嵋�行有限公司 股份代号 2309 以上资料更新至2017年2月27日，即本中期报告之 日期 4 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 ABBREVIATIONS 简称 In this interim report, the following abbreviations have the following meanings unless otherwise specified: 於本中期报告内，除文义另有所指外，以下简称具有以下涵义： “Board” 「 董事会」 the Board of Directors of the Company 本公司之董事会 “Company” 「 本公司」 Birmingham International Holdings Limited 伯明翰环球控股有限公司 “Directors” 「 董事」 the directors of the Company 本公司之董事 “Group” 「 本集团」 the Company and its subsidiaries 本公司及其附属公司 “Listing Rules” 「 上市规则」 the Rules Governing the Listing of Securities on the Stock Exchange 联交所证券上市规则 “SFO” 「 证券及期货条例」 the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) 证券及期货条例 （ 香港法例第571章） “Shareholder(s)” 「 股东」 the shareholder(s) of the Company 本公司之股东 “Stock Exchange” 「 联交所」 The Stock Exchange of Hong Kong Limited 香港联合交易所有限公司 “UK” 「 英国」 United Kingdom of Great Britain and Northern Ireland 大不列颠及北爱尔兰联合王国 “GBP” 「 英镑」 Great British Pounds, the lawful currency of the UK 英镑，英国之法定货币 “HK$” and “HK cents” 「 港元」 及 「 港仙」 Hong Kong dollars and Hong Kong cents, the lawful currency of Hong Kong 港元及港仙，香港之法定货币 “%” 「 %」 per cent 百分比 MANAGEMENT DISCUSSION AND ANALYSIS 管理层讨论及分析 中期报告 INTERIM REPORT 2017 5 PERFORmANCE AND RESuLTS For the six months ended 31 December 2016, the revenue of the Group was approximately HK$94.5 million which was about the same as that of the corresponding period last year. The loss incurred during the period under review increased by 17% to approximately HK$63 million. BuSINESS REvIEW The principal activity of the Group is the operation of Birmingham City Football Club (the “Club”) in the UK. Revenue streams of the Group comprised (i) match day receipts which consisted of season and match day tickets, (ii) broadcasting revenue, including distributions from the Football Association Premier League and English Football League broadcasting agreements, cup competitions and revenue from the media, and (iii) commercial income which comprised sponsorship income, corporate hospitality, merchandising, conferences and events and other sundry income. Following a finish at the 10th position in the Championship Division for the season 2015/2016, the Club started well in season 2016/2017 and had been maintaining its position within top 10 in the Championship Division most of the time during the period under review whilst it is standing at the 14th position as at the date of this report. As a result of the increase in distributions from Football Association Premier League and the growth in income from commercial activities, the Club recorded an increase in revenue, which primarily denominated in Great British Pounds, by 16% over the corresponding period last year. The increase in the Club’s revenue, however, was more than offset by the devaluation of Great British Pounds during the period under review. For the six months ended 31 December 2016, the revenue of the Group was approximately HK$94.5 million which was about the same as that of the corresponding period last year. 表现及业绩 截至2016年12月31日止六个月，本集团录得收益约 94,500,000港元，大致与去年同期持平。回顾期间 录得之亏损增加17%至约63,000,000港元。 业务回顾 本集团主要业务为营运位於英国的伯明翰城足球球 会 （ 「 球会」）。本集团之收入来源包括 (i) 季票及比赛 日门票之球赛日收入；(ii) 广播收入，包括来自英格 兰超级足球联赛及英国足球职业联赛广播协议、杯 赛之分派及来自媒体之收入；及 (iii) 商业收入，包 括赞助收入、公司款待、商品销售、会议及活动， 以及其他杂项收入。 继於冠军联赛组别以第十位完成2015/2016年赛季 後，球会在2016/2017年赛季季初表现良好，在回 顾期内大多数时间一直维持排名首十名以内位置， 而於本报告日期排名第十四名。由於英格兰超级足 球联赛增加分派及商业收入之增长，球会收入（ 主 要以英镑计价） 与去年同期比较增加16%，但球会 收入的增长被英镑於回顾期内贬值所完全抵销。截 至2016年12月31日止六个月，本集团之收益约为 94,500,000港元，大致与去年同期持平。 6 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 MANAGEMENT DISCUSSION AND ANALYSIS (Continued) 管理层讨论及分析 （ 续） BuSINESS REvIEW (Continued) During the period under review, the Club had signed several new players as well as the new club manager to enhance the competitiveness of the squad. The management believes the pedigree, philosophy and ambition of the new members fits with what the Club would like to achieve as it moves in a new direction. With the introduction of new players, the management is optimistic that the performance of the Club can be improved on and off the field. The Birmingham City Football Academy has continued to operate at Category 2 status under the Elite Player Performance Plan and that a number of academy trained players continued to be involved in the first team squad. For the six months ended 31 December 2016, the Group incurred a loss of approximately HK$63 million as compared to a loss of approximately HK$54 million for the corresponding period last year. The increase in loss was mainly caused by the increase in operating costs, in particular the higher spending on players’ registration fees and the Club’s staff costs due to the recruitment of new players and manager for the Club and the increase in finance costs during the period under review. RESumPTION OF TRADING AND BuSINESS PROSPECT References are made to the circular of the Company dated 5 August 2016 (the “Circular”), the prospectus of the Company dated 15 September 2016 (the “Prospectus”) and the announcements of the Company dated 7 October 2016, 11 October 2016 and 14 October 2016 in relation to, among others, the proposed restructuring, fulfillment of resumption conditions and resumption of trading of shares of the Company on the Stock Exchange. The Board is pleased to report that all the conditions set out in the resumption proposal as approved by the Stock Exchange were fulfilled and trading of shares of the Company have been resumed on 17 October 2016. Moreover, the Receivership Order of the High Court of Hong Kong (“High Court”) dated 16 February 2015 was discharged and the receivers appointed under the Receivership Order were released on 17 October 2016. 业务回顾 （ 续） 於回顾期内，球会签入多名新球员及新领队以提升 球队之竞争力。管理层相信新队员之背景、理念以 及目标均符合球会未来新发展路向。藉着引入新球 员，管理层对球会未来整体表现的改善感到乐观。 伯明翰城足球学院继续於精英球员表现计划中的第 二组别营运，多名由学会培训之球员继续成为一线 球队队员。 本 集 团 於 截 至2016年12月31日 止 六 个 月 录 得 亏 损 约63,000,000港 元，而 去 年 同 期 的 亏 损 约 为 54,000,000港元。亏损增加主要由於营运成本上 升，尤其在球会聘用新球员及新领队後的球员注册 费用及员工成本增加，以及回顾期内融资成本上升。 公司复牌及业务展望 谨此提述日期为2016年8月5日之本公司通函（ 「 该 通函」）、日期为2016年9月15日之本公司发售章程 （ 「 发售章程」）及日期为2016年10月7日、2016年10 月11日及2016年10月14日之本公司公告，内容有关 （ 其中包括）建议重组、达成复牌条件及恢复本公司 股份於联交所买卖。 董事会欣然报告，经联交所审批之复牌建议所载之 所有条件已获达成，本公司之股份已於2016年10月 17日恢复买卖。另外，由香港高等法院 （ 「 高院」）於 2015年2月16日颁怖之接管令已获解除，根据接管 令所委派之接管人已於2016年10月17日获免除。 中期报告 INTERIM REPORT 2017 7 MANAGEMENT DISCUSSION AND ANALYSIS (Continued) 管理层讨论及分析 （ 续） RESumPTION OF TRADING AND BuSINESS PROSPECT (Continued) Following completion of the Share Subscription (as defined below) by Trillion Trophy Asia Limited (“Trillion Trophy”), it has become the controlling Shareholder. As at the date of this report, Trillion Trophy is interested in 3,825,000,000 shares of the Company, representing approximately 60.78% of the issued share capital of the Company. New board members and management team were also engaged to oversee the business operation and formulating future business plans and strategies of the Company. Leveraging on the experience of the new management, the Company will further develop its principal football business and strive to enhance the operation and business value of the existing operation. The new management also endeavors to identify attractive business opportunities to broaden the income stream of the Group, in particular in business areas including sports, sports education, culture as well as online games and entertainment, with an aim to enhance the business model of the Group as well as to achieve better return for the Shareholders as a whole. FINANCIAL REvIEW Group’s Liquidity and Financial Resources As at 31 December 2016, the Group’s current ratio (as defined by current assets divided by current liabilities) was 300% (30 June 2016: 81% (restated)) and the gearing ratio (as defined by total borrowings divided by equity plus total borrowings) was 9% (30 June 2016: 70% (restated)). The ratio of total liabilities to total assets of the Group was 34% (30 June 2016: 82% (restated)). 公司复牌及业务展望 （ 续） 於Trillion Trophy Asia Limited （ 「 Trillion Trophy」） 完 成 股 份 认 购（ 定 义 见 下 文） 後，其 已 成 为 控 股 股 东。於 本 报 告 日 期，Trillion Trophy於 本 公 司 3,825,000,000股股份中拥有权益，相当於本公司已 发行股本约60.78%。本公司亦委聘新董事会成员 及管理团队负责管理本公司之业务营运并制定未来 之业务计划及策略。凭藉新管理层的经验，本公司 将进一步拓展其主营足球业务并致力提升现有业务 之运营能力及商业价值。新管理层亦致力物色优质 的业务商机，以扩宽本集团的收入来源，尤其在体 育、体育教育、文化以及线上游戏及娱乐等业务范 畴，务求优化本集团的业务模式及为股东取得更理 想的整体回报。 财务回顾 本集团之流动资金及财务资源 於2016年12月31日，本集团之流动比率 （ 定义为流 动资产除以流动负债） 为300%（ 2016年6月30日： 81%（ 经重列）），资本负债比率（ 定义为贷款总额 除以权益及贷款总额）为9% （ 2016年6月30日：70% （ 经重列））。本集团之负债总额对资产总额之比率 为34% （ 2016年6月30日：82% （ 经重列））。 8 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 MANAGEMENT DISCUSSION AND ANALYSIS (Continued) 管理层讨论及分析 （ 续） FINANCIAL REvIEW (Continued) Group’s Liquidity and Financial Resources (Continued) On 26 June 2015 and 31 May 2016, the Company entered into a loan facility agreement (the “Loan Facility Agreement”) and an amendment letter to the Loan Facility Agreement, respectively, with Trillion Trophy to provide a term loan facility of up to HK$212,813,600 to the Company. The loan facility bears interest at a rate of 8% per annum, maturing by 25 June 2018 and is secured by (i) a first fixed legal charge over the property owned by Birmingham City Football Club PLC (“BCFC”), the principal subsidiary of the Company; (ii) a first floating charge over all the assets, goodwill, undertaking and uncalled capital, both present and future granted or to be granted by BCFC in favour of Trillion Trophy; and (iii) a first fixed charge over all books and other debts, both present and future granted or to be granted by BCFC, in favour of Trillion Trophy. On 6 June 2016 and 8 June 2016, the Company and Trillion Trophy entered into a convertible notes subscription agreement and a supplemental deed respectively to subscribe for convertible notes in the aggregate principal amount of HK$150,000,000 (the “Notes”). The Notes bear an interest of 2% per annum with a maturity date falling three years from the date of issue of the Notes, and can be converted to shares of the Company at a conversion price of HK$0.08 per share. The Notes were utilised to offset against the outstanding balance of the loan drawn under the Loan Facility Agreement. The subscription of the Notes was completed on 11 October 2016. Upon the completion of subscription of the Notes, as at the date of this report, the outstanding amount of the loan drawn under the Loan Facility Agreement is HK$39,113,600. On 28 October 2016 and 20 December 2016, HK$100,000,000 and HK$50,000,000 of the Notes were fully converted into 1,250,000,000 and 625,000,000 shares of the Company respectively. 财务回顾 （ 续） 本集团之流动资金及财务资源 （ 续） 於2015年6月26日 及2016年5月31日，本 公 司 与 Trillion Trophy分别签订贷款融资协议（ 「 贷款融资 协议」）及贷款融资协议之修订函件，为本公司提供 一笔最高达212,813,600港元之有期贷款融资。该 贷款融资之年利率为8%，於2018年6月25日届满， 并以下列各项作为抵押：(i) 本公司主要附属公司 Birmingham City Football Club PLC （ 「 BCFC」）持 有之物业的第一固定法定押记；(ii) BCFC目前及未 来授出或将授出的所有资产、商誉、承诺及未催缴 股本以Trillion Trophy为受益人的第一浮动押记；及 (iii) BCFC目前及未来授出或将授出之所有账面及其 他债务以Trillion Trophy为受益人的第一固定押记。 於2016年6月6日及2016年6月8日，本公司与Trillion Trophy就认购本金总额为150,000,000港元之可换 股票据 （ 「 该等票据」）分别订立可换股票据认购协议 及补充契据。该等票据之年利率为2%，於该等票 据发行日後三年届满，并可按兑换价每股0.08港元 兑换为本公司股份。该等票据将用作抵销贷款融资 协议项下已提取贷款之未偿还余额。认购该等票据 已於2016年10月11日完成。於完成认购该等票据 後，截至本报告日期为止，贷款融资协议项下已提 取贷款之未偿还余额为39,113,600港元。金额分别 为100,000,000港元及50,000,000港元之该等票据 已分别於2016年10月28日及2016年12月20日全数 转换为1,250,000,000股及625,000,000股本公司股 份。 中期报告 INTERIM REPORT 2017 9 MANAGEMENT DISCUSSION AND ANALYSIS (Continued) 管理层讨论及分析 （ 续） FINANCIAL REvIEW (Continued) Group’s Liquidity and Financial Resources (Continued) On 6 June 2016, the Company proposed an open offer (“Open Offer”) of shares of the Company on the basis of one offer share for every two shares of the Company held by qualifying Shareholders at the price of HK$0.08 per offer share. The Open Offer was completed on 11 October 2016 under which a total of 242,027,168 offer shares of the Company had been issued and the gross proceeds from the Open Offer, before deducting the underwriting commission and other expenses, amounted to approximately HK$19,362,000. On 6 June 2016, the Company entered into a share subscription agreement with Trillion Trophy to subscribe for 3,125,000,000 shares of the Company at the price of HK$0.08 per share (“Share Subscription”). The Share Subscription was completed on 11 October 2016 and the gross proceeds from the Share Subscription before deducting relevant expenses amounted to HK$250,000,000. The aggregate gross proceeds from the Open Offer and the Share Subscription totaling approximately HK$269,362,000. During the period under review, approximately HK$22,165,000 out of the gross proceeds were used as follows: (i) approximately HK$9,957,000 were used to satisfy the working capital requirement of BCFC; (ii) approximately HK$5,427,000 were used to settle the expenses for the resumption purposes; and (iii) approximately HK$6,781,000 were used to finance the expenses incurred by the operations in Hong Kong. For details of the Notes, the Open Offer and the Share Subscription, please refer to the Circular and the Prospectus. 财务回顾 （ 续） 本集团之流动资金及财务资源 （ 续） 於2016年6月6日，本公司建议按合资格股东每持有 两股本公司股份获配一股发售股份之基准进行公开 发售 （ 「 公开发售」），发售价为每股发售股份0.08港 元。公开发售已於2016年10月11日完成，据此已发 行合共242,027,168股发售股份，公开发售之所得 款项总额约为19,362,000港元（ 扣除包销佣金及其 他开支前）。 於2016年6月6日，本公司与Trillion Trophy就认购 3,125,000,000股本公司股份签订股份认购协议，认 购价为每股0.08港元 （ 「 股份认购」）。股份认购已於 2016年10月11日完成，股份认购之所得款项总额为 250,000,000港元 （ 扣除有关开支前）。 公 开 发 售 及 股 份 认 购 之 所 得 款 项 总 额合 共 约 为 269,362,000港元。於回顾期间，所得款项总额中 约22,165,000港元已作下列用途：(i) 约9,957,000港 元用作应付BCFC之营运资金需求；(ii) 约5,427,000 港 元 用 作 偿 付 恢 复 股 份 买 卖 之 开 支；及 (iii) 约 6,781,000港元用作为香港业务所产生之开支提供 资金。 关於该等票据、公开发售及股份认购的详情，请参 阅该通函及发售章程。 10 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 MANAGEMENT DISCUSSION AND ANALYSIS (Continued) 管理层讨论及分析 （ 续） FINANCIAL REvIEW (Continued) Group’s Liquidity and Financial Resources (Continued) On 21 December 2016, the Company entered into a facility agreement (“Revolving Facility Agreement”) with Trillion Trophy in respect of the provision of a revolving loan facility up to HK$250 million for the period commencing 21 December 2016 and ending on the earlier of 31 December 2018 and the date on which the facility is cancelled or terminated pursuant to the Revolving Facility Agreement (or other date as agreed between the Company and Trillion Trophy) (“Revolving Facility”). As at the date of this report, the Revolving Facility has not yet been drawn. For details of the Revolving Facility, please refer to the announcement of the Company dated 21 December 2016. As at 31 December 2016, the Group’s bank balances and cash was approximately HK$271 million (30 June 2016: HK$27 million). The increase in funds was mainly the result of the completion of the Open Offer and the Share Subscription. The Group’s funds were denominated mainly in Hong Kong dollars and Great British Pounds, and were deposited in banks in Hong Kong and the UK. T h e G r o u p h a d o u t s t a n d i n g b o r r o w i n g s a s a t 31 December 2016 of approximately HK$39.4 million (30 June 2016: HK$150.8 million (restated)). These mainly comprised of non-bank borrowings originated in Hong Kong which included approximately HK$39.1 million drawn from Trillion Trophy. Capital Reorganisation Reference is made to the Circular in relation to, among others, the capital reorganisation of the Company. Immediately upon the completion of such capital reorganisation on 7 September 2016, the authorised share capital of the Company was HK$500 million divided into 50,000,000,000 shares of HK$0.01 each and the issued and paid up capital of the Company was approximately HK$4.8 million divided into 484,054,336 shares of HK$0.01 each. 财务回顾 （ 续） 本集团之流动资金及财务资源 （ 续） 於2016年12月21日，本公司与Trillion Trophy签订 融资协议 （ 「 循环融资协议」），为本公司提供一笔最 高达250,000,000港元之循环贷款融资，有效期由 2016年12月21日起直至2018年12月31日或根据循 环融资协议取消或终止融资当日 （ 或本公司与Trillion Trophy所同意的其他日期）止 （ 以较早者为准） （ 「 循 环融资」）。截至本报告日期为止，循环融资并未获 提取。关於循环融资的详情，请参阅日期为2016年 12月21日之本公司公告。 於2016年12月31日，本集团之银行结余及现金约 为271,000,000港元（ 2016年6月30日：27,000,000 港元）。资金增加主要由於完成公开发售及股份认 购。本集团之资金主要为港元及英镑，并存放於香 港及英国的银行。 於2016年12月31日，本 集 团 之 未 偿 还 贷 款 约 为 39,400,000港元（ 2016年6月30日：150,800,000港 元 （ 经重列）），主要为於香港安排之非银行贷款，包 括自Trillion Trophy提取之约39,100,000港元贷款。 股本重组 谨此提述该通函，内容有关（ 其中包括） 本公司之 股本重组。紧随於2016年9月7日完成有关股本重 组後，本公司之法定股本为500,000,000港元（ 分 为50,000,000,000股 每 股 面 值0.01港 元 之 股 份） 以及已发行及缴足股本为约4,800,000港元（ 分为 484,054,336股每股面值0.01港元之股份）。 中期报告 INTERIM REPORT 2017 11 MANAGEMENT DISCUSSION AND ANALYSIS (Continued) 管理层讨论及分析 （ 续） FINANCIAL REvIEW (Continued) Foreign Exchange Risk The Group’s exposure to foreign currency risk mainly relates to the Group’s operation in the UK and most of which transactions, assets and liabilities are denominated in Great British Pounds. The Group does not use derivative financial instruments to hedge its foreign currency risks. The management of the Company will continue to monitor its foreign exchange exposure and take appropriate measures if needed. Pledge of the Group’s Assets As at 31 December 2016, the loans from Trillion Trophy pursuant to the Loan Facility Agreement were secured by (i) a first fixed legal charge over the property owned by BCFC with a carrying value of approximately GBP18.7 million (equivalent to approximately HK$178.5 million); (ii) a first floating charge over all the assets, goodwill, undertaking and uncalled capital, both present and future granted or to be granted by BCFC; and (iii) a first fixed charge over all book and other debts, both present and future granted or to be granted by BCFC, in favour of Trillion Trophy. Certain credit facilities made available to BCFC were secured by a fixed charge over a specific bank deposit account of BCFC held with the bank. As at 31 December 2016, the balance on this bank deposit account was GBP800,000 (equivalent to approximately HK$7,624,000) (30 June 2016: GBP800,000 which was equivalent to approximately HK$8,312,000). Save for the above, the Group had not charged other assets to secure its borrowings. 财务回顾 （ 续） 外汇风险 本集团之外汇风险主要关於本集团於英国之营运及 其大部份以英镑为单位之交易、资产及负债。本集 团并无使用衍生金融工具对冲其外汇风险。本公司 管理层将持续监察其外汇风险并於有需要时采取适 当措施。 本集团之资产质押 於2016年12月31日，根据贷款融资协议来自Trillion Trophy之贷款乃以下列各项以Trillion Trophy为受益 人作为抵押：(i) BCFC账面值约18,700,000英镑 （ 相 等於约178,500,000港元） 之物业的第一固定法定 押记；(ii) BCFC目前及未来授出或将授出的所有资 产、商誉、业务及未催缴股本的第一浮动押记；及 (iii) BCFC目前及未来授出或将授出的所有账面及其 他债务的第一固定押记。 BCFC之若干授信额度乃以BCFC於银行的特定银行 存款账户的固定押记作为抵押。於2016年12月31 日，该银行存款账户余额为800,000英镑 （ 相等於约 7 ,624,000港元） (2016年6月30日：800,000英镑 （ 相 等於约8,312,000港元））。 除以上所述者外，本集团并无质押其他资产以取得 其贷款。 12 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 MANAGEMENT DISCUSSION AND ANALYSIS (Continued) 管理层讨论及分析 （ 续） CONTINuING CONNECTED TRANSACTION On 21 December 2016, the Company entered into the Revolving Facility Agreement with Trillion Trophy in relation to the provision of the Revolving Facility by Trillion Trophy to the Company. Trillion Trophy is the controlling Shareholder and hence a connected person of the Company. The transactions contemplated under the Revolving Facility Agreement constitute financial assistance for the Company under the Listing Rules. Pursuant to Rule 14A.90 to the Listing Rules, such financial assistance received by the Company from Trillion Trophy is fully exempt from the reporting, announcement and independent Shareholders’ approval requirements under Chapter 14A to the Listing Rules as it is conducted on normal commercial terms or better and it is not secured by the assets of the Group. Up to the date of this report, the Revolving Facility has not yet been drawn. HumAN RESOuRCES As at 31 December 2016, the Group employed altogether approximately 198 full time employees and approximately 530 temporary staff members in Hong Kong and the UK (31 December 2015: 185 full time employees and 531 temporary staff members). The Group remunerated its employees mainly based on industry practice and individual’s performance and experience. Apart from the basic remuneration, discretionary bonus may be granted to eligible employees with reference to the Group’s performance as well as individual’s performance. 持续关连交易 於2016年12月21日，本公司与Trillion Trophy订立 循环融资协议，内容有关Trillion Trophy向本公司提 供循环融资。Trillion Trophy为控股股东，并因此为 本公司之关连人士。根据上市规则，循环融资协议 项下拟进行之交易构成本公司之财务资助。根据上 市规则第14A.90条，由於本公司按一般商务条款或 更佳条款收取Trillion Trophy之财务资助，且毋须以 本集团资产提供抵押，因此有关财务资助获全面豁 免遵守上市规则第14A章之申报、公告及独立股东 批准之规定。直至本报告日期，循环融资仍未获提 取。 人力资源 於2016年12月31日，本集团於香港及英国雇用合共 约198名全职雇员及约530名临时雇员 （ 2015年12月 31日：185名全职雇员及531名临时雇员）。本集团 主要根据行业惯例、个人表现及经验制定其雇员之 薪酬。除基本薪酬外，本集团可能参考本集团表现 以及个人表现向合资格雇员授予酌情花红。 CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME For the six months ended 31 December 2016 简明综合损益及其他全面收益表 截至2016年12月31日止六个月 中期报告 INTERIM REPORT 2017 13 Six months ended 31 December 截至12月31日止六个月 2016 2015 2016年 2015年 Notes HK$’000 HK$’000 附注 千港元 千港元 (unaudited) (Unaudited) （ 未经审核） （ 未经审核） Revenue 收益 5 94,533 95,142 Operating expenses 经营开支 (147,248) (135,045) Loss from operations before amortisation 摊销前之经营亏损 (52,715) (39,903) Other income 其他收入 6 20,168 9,455 Profit on sales of players' registration 出售球员注册之溢利 29 717 Amortisation of intangible assets 无形资产摊销 (7,883) (3,220) Administrative and other expenses 行政及其他开支 (16,334) (19,419) Finance costs 融资成本 7 (6,435) (3,346) Loss before taxation 除税前亏损 8 (63,170) (55,716) Income tax credit 所得税抵免 9 130 1,682 Loss for the period 本期间亏损 (63,040) (54,034) Other comprehensive expense 其他全面开支 Item that may be reclassified subsequently to profit or loss: 其後可能重新分类至损益 之项目： Exchange differences arising on translation of financial statements of overseas subsidiaries 换算海外附属公司财务报 表产生之汇兑差额 (21,895) (15,704) Total comprehensive expense for the period 本期间全面开支总额 (84,935) (69,738) Loss for the period attributable to: 应占本期间亏损： Owners of the Company 本公司拥有人 (61,382) (52,772) Non-controlling interests 非控股权益 (1,658) (1,262) (63,040) (54,034) Total comprehensive expense attributable to: 应占全面开支总额： Owners of the Company 本公司拥有人 (83,198) (67,949) Non-controlling interests 非控股权益 (1,737) (1,789) (84,935) (69,738) (Restated) （ 经重列） Loss per share 每股亏损 �C Basic and diluted (HK cents) �C 基本及摊薄 （ 港仙） 11 (2.37) (10.90) 14 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION As at 31 December 2016 简明综合财务状况表 於2016年12月31日 As at 31 December 2016 As at 30 June 2016 於2016年 12月31日 於2016年 6月30日 Notes HK$’000 HK$’000 附注 千港元 千港元 (unaudited) (Audited and restated) （ 未经审核） （ 经审核 及经重列） Non-current assets 非流动资产 Property, plant and equipment 物业、厂房及设备 12 185,953 203,008 Intangible assets 无形资产 13 90,120 82,259 Deposits, prepayments and other receivables 按金、预付款项及 其他应收款项 4,245 594 Total non-current assets 非流动资产总额 280,318 285,861 Current assets 流动资产 Inventories 存货 2,826 2,672 Trade receivables 应收贸易账款 14 6,633 3,229 Deposits, prepayments and other receivables 按金、预付款项及 其他应收款项 42,965 55,793 Bank balances and cash 银行结余及现金 270,996 26,982 Total current assets 流动资产总额 323,420 88,676 Current liabilities 流动负债 Transfer fee payables 应付转会费 14,165 8,572 Trade payables 应付贸易账款 15 10,635 6,878 Accruals and other payables 应计款项及其他应付款项 16 36,361 41,268 Deferred capital grants 递延资本拨款 543 592 Amounts due to former directors 应付前董事款项 17 5,571 10,769 Deferred income 递延收入 23,079 22,790 Borrowings 贷款 18 139 259 Income tax payable 应付所得税 17,154 18,703 Total current liabilities 流动负债总额 107,647 109,831 Net current assets/(liabilities) 流动资产�u （ 负债）净额 215,773 (21,155) Total assets less current liabilities 资产总额减流动负债 496,091 264,706 中期报告 INTERIM REPORT 2017 15 CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (Continued) As at 31 December 2016 简明综合财务状况表 （ 续） 於2016年12月31日 As at 31 December 2016 As at 30 June 2016 於2016年 12月31日 於2016年 6月30日 Notes HK$’000 HK$’000 附注 千港元 千港元 (unaudited) (Audited and restated) （ 未经审核） （ 经审核 及经重列） Non-current liabilities 非流动负债 Transfer fee payables 应付转会费 61 2,598 Accruals and other payables 应计款项及其他应付款项 16 3,081 890 Deferred capital grants 递延资本拨款 14,744 16,371 Borrowings 贷款 18 39,290 150,527 Interest payable 应付利息 12,571 �C Deferred tax liabilities 递延税项负债 25,942 28,426 Total non-current liabilities 非流动负债总额 95,689 198,812 NET ASSETS 资产净额 400,402 65,894 Capital and reserves 资本及储备 Share capital 股本 20 62,932 96,811 Reserves 储备 338,847 (31,277) Equity attributable to owners of the Company 本公司拥有人应占权益 401,779 65,534 Non-controlling interests 非控股权益 (1,377) 360 TOTAL EQuITY 权益总额 400,402 65,894 16 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the six months ended 31 December 2016 简明综合权益变动表 截至2016年12月31日止六个月 Attributable to owners of the Company 本公司拥有人应占 Share capital Share premium Capital reserve Translation reserve Convertible notes reserve Accumulated losses Total Noncontrolling interests Total 股本 股份溢价 资本储备 汇兑储备 可换股 票据储备 累计亏损 总计 非控股 权益 总计 Notes HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 HK$’000 附注 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 千港元 At 1 July 2015, as previously reported 於2015年7月1日 （ 原先呈报） 96,811 1,272,710 6,510 (30,936) 112,500 (1,414,321) 43,274 2,923 46,197 Restatement of prior year’s figures 重新编列去年数字 4 �C �C �C �C 120,000 �C 120,000 �C 120,000 At 1 July 2015, as restated 於2015年7月1日 （ 经重列） 96,811 1,272,710 6,510 (30,936) 232,500 (1,414,321) 163,274 2,923 166,197 Total comprehensive expense for the period 本期间全面开支总额 �C �C �C (15,177) �C (52,772) (67,949) (1,789) (69,738) At 31 December 2015 (unaudited and restated) 於2015年12月31日 （ 未经审核及经重列） 96,811 1,272,710 6,510 (46,113) 232,500 (1,467,093) 95,325 1,134 96,459 At 1 July 2016, as previously reported 於2016年7月1日 （ 原先呈报） 96,811 1,272,710 6,510 (70,102) 112,500 (1,472,895) (54,466) 360 (54,106) Restatement of prior year’s figures 重新编列去年数字 4 �C �C �C �C 120,000 �C 120,000 �C 120,000 At 1 July 2016, as restated 於2016年7月1日 （ 经重列） 96,811 1,272,710 6,510 (70,102) 232,500 (1,472,895) 65,534 360 65,894 Capital reorganisation 股本重组 20(i) (91,970) (1,272,710) �C �C �C 1,364,680 �C �C �C Issue of shares upon share subscription 股份认购时发行股份 20(ii) 31,250 218,750 �C �C �C �C 250,000 �C 250,000 Transaction costs attributable to share subscription 股份认购之交易成本 20(ii) �C (112) �C �C �C �C (112) �C (112) Issue of shares upon open offer 公开发售时发行股份 20(iii) 2,420 16,942 �C �C �C �C 19,362 �C 19,362 Transaction costs attributable to open offer 公开发售之交易成本 20(iii) �C (508) �C �C �C �C (508) �C (508) Recognition of equity component of convertible notes 确认可换股票据之 权益部份 19(iii) �C �C �C �C 26,440 �C 26,440 �C 26,440 Issue of shares upon conversion of convertible notes 转换可换股票据时 发行股份 20(iv) 24,421 358,787 �C �C (258,940) �C 124,268 �C 124,268 Transaction costs attributable to conversion of convertible notes 转换可换股票据之交易成本 20(iv) �C (7) �C �C �C �C (7) �C (7) Total comprehensive expense for the period 本期间全面开支总额 �C �C �C (21,816) �C (61,382) (83,198) (1,737) (84,935) At 31 December 2016 (unaudited) 於2016年12月31日 （ 未经审核） 62,932 593,852 6,510 (91,918) �C (169,597) 401,779 (1,377) 400,402 CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS For the six months ended 31 December 2016 简明综合现金流量表 截至2016年12月31日止六个月 中期报告 INTERIM REPORT 2017 17 Six months ended 31 December 截至12月31日止六个月 2016 2015 2016年 2015年 HK$’000 HK$’000 千港元 千港元 (unaudited) (Unaudited) （ 未经审核） （ 未经审核） Net cash flows used in operating activities 经营活动所用之现金流净额 (27,598) (36,083) Acquisition of intangible assets 购置无形资产 (23,154) (11,204) Acquisition of property, plant and equipment 购置物业、厂房及设备 (3,822) (1,490) Proceeds from disposals of intangible assets 出售无形资产之所得款项 29 727 Other investing cash flows 其他投资现金流 351 1,054 Net cash flows used in investing activities 投资活动所用之现金流 净额 (26,596) (10,913) Proceeds from new borrowings 新贷款之所得款项 38,800 59,500 Repayment of other loans 偿还其他贷款 (142) (19,850) Net proceeds from share subscription 股份认购之所得款项净额 249,888 �C Net proceeds from open offer 公开发售之所得款项净额 18,854 �C Other financing cash flows 其他融资现金流 (3,785) (3,345) Net cash flows generated from financing activities 融资活动产生之现金流 净额 303,615 36,305 Net increase/(decrease) in cash and cash equivalents 现金及现金等值项目 增加�u （ 减少）净额 249,421 (10,691) Cash and cash equivalents at beginning of the period 期初之现金及现金等值 项目 26,982 58,815 Effect of changes in foreign exchange rates 汇率变动之影响 (5,407) (3,391) Cash and cash equivalents at the end of the period, represented by bank balances and cash 期末之现金及现金等值项目 即银行结余及现金 270,996 44,733 18 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 简明综合中期财务报表附注 1. GENERAL INFORmATION The Company was incorporated in the Cayman Islands as an exempted company with limited liability and its shares are listed on the Stock Exchange. The principal activity of the Company is investment holding and the principal activity of its major subsidiary is engaged in the operation of a professional football club in the UK. The functional currency of the Group is Hong Kong dollars and for those subsidiaries established in the UK is Great British Pounds. The condensed consolidated interim financial statements are presented in Hong Kong dollars for the convenience of users of the condensed consolidated interim financial statements as the Company is listed in Hong Kong. 2. BASIS OF PREPARATION The condensed consolidated interim financial statements have been prepared in accordance with the applicable disclosure requirements of Appendix 16 to the Listing Rules and with the Hong Kong Accounting Standard (“HKAS”) 34 “Interim Financial Reporting” issued by the Hong Kong Institute of Certified Public Accountants (the “HKICPA”). 3. SIGNIFICANT ACCOuNTING POLICIES The condensed consolidated interim financial statements have been prepared on the historical cost basis. The condensed consolidated interim financial statements do not include all the information and disclosures required in a full set of financial statements, and should be read in conjunction with the Group’s audited consolidated financial statements for the year ended 30 June 2016 (“2016 Annual Report”). The preparation of the condensed consolidated interim financial statements in conformity with HKAS 34 requires management to make judgments, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income and expenses on a year-to-date basis. Actual results may differ from these estimates. In preparing these condensed consolidated interim financial statements, the significant judgments made by management in applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those that were applied in preparing the 2016 Annual Report. 1. 一般资料 本公司在开曼群岛注册成立为获豁免有限公司， 其股份於联交所上市。 本公司之主要业务为投资控股，而其主要附属公 司之主要业务为从事英国职业足球球会之营运。 本集团之功能货币为港元，而於英国成立之附属 公司之功能货币为英镑。由於本公司於香港上 市，为方便简明综合中期财务报表使用者，此等 简明综合中期财务报表以港元呈列。 2. 编制基准 简明综合中期财务报表乃根据上市规则附录16之 适用披露规定及香港会计师公会 （ 「 香港会计师公 会」）颁布之香港会计准则 （ 「 香港会计准则」）第34 号 「 中期财务报告」 编制。 3. 主要会计政策 简明综合中期财务报表乃按历史成本基准编制。 简明综合中期财务报表并不包括整套财务报表 规定之所有资料及披露事项，并应与本集团截 至2016年6月30日止年度之经审核综合财务报表 （ 「 2016年年报」）一并阅读。 根据香港会计准则第34号编制简明综合中期财 务报表，需要管理层作出影响政策应用，以及年 初至今之资产及负债、收入及开支呈报金额之判 断、估计及假设。实际结果可能有别於该等估计。 於编制此等简明综合中期财务报表时，管理层於 应用本集团会计政策作出之重大判断及估计不确 定性之主要来源，与编制2016年年报所应用者相 同。 中期报告 INTERIM REPORT 2017 19 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 3. SIGNIFICANT ACCOuNTING POLICIES (Continued) The accounting policies and method of computation used in the condensed consolidated interim financial statements for the six months ended 31 December 2016 are consistent with those followed in the preparation of the 2016 Annual Report. For the six months ended 31 December 2016, the Group has adopted all the new and revised Hong Kong Financial Reporting Standards (“HKFRSs”) effective for the accounting year beginning on 1 July 2016 issued by the HKICPA that are relevant for the preparation of the Group’s condensed consolidated interim financial statements. The application of the new and revised HKFRSs in the current period has had no material effect on the amounts reported and/or disclosures set out in these condensed consolidated interim financial statements. The Group has not applied the new and revised HKFRSs that have been issued but have not come into effect. The Group has already commenced an assessment of the impact of these new and revised HKFRSs but is not yet in a position to state whether these new and revised HKFRSs would have a material impact on its results of operations and financial position. 4. RESTATEmENT OF PRIOR YEAR’S FIGuRES (a) As detailed in note 19 (ii) to these condensed consolidated interim financial statements, the amount of HK$120,000,000 has been reclassified from borrowings to convertible notes reserve as from 1 July 2015. The following table discloses the restatement that has been made in order to reflect the above reclassification to each of the line items in the consolidated statement of financial position as at 30 June 2016 as previously reported in 2016 Annual Report. 3. 主要会计政策 （ 续） 截至2016年12月31日止六个月之简明综合财务报 表所采用之会计政策及计算方法与编制2016年年 报所遵循者一致。 截至2016年12月31日止六个月，本集团已采纳所 有由香港会计师公会颁布於2016年7月1日开始之 会计年度生效，并与编制本集团之简明综合中期 财务报表相关之新订及经修订香港财务报告准则 （ 「 香港财务报告准则」）。 於本期间应用新订及经修订香港财务报告准则对 此等简明综合中期财务报表所呈报之金额及�u或 所载披露事项概无重大影响。 本集团尚未应用已颁布但尚未生效之新订及经修 订香港财务报告准则。本集团已经就该等新订及 经修订香港财务报告准则之影响展开评估，惟尚 未能阐明该等新订及经修订香港财务报告准则会 否对其经营业绩及财务状况构成重大影响。 4. 重新编列去年数字 (a) 诚 如 简 明 综 合 中 期 财 务 报 表 附 注19 (ii) 所 详 述，由 2 0 1 5年 7月 1日 起，金 额 为 120,000,000港元已由贷款重新分类为可换 股票据储备。 下表披露乃反映上述重新分类对原先呈报 2016年年报内截至2016年6月30日之综合财 务状况表中各项目而作出之重列。 20 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 4. RESTATEmENT OF PRIOR YEAR’S FIGuRES (Continued) (b) Consolidated statement of financial position as at 30 June 2016 As at 30 June 2016 於 2016年6月30日 (As previously reported) （ 原先呈报） Effect of prior year’ s restatement 重新编列去年 数字之影响 As at 30 June 2016 於 2016年6月30日 (As restated) （ 经重列） HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 Non-current assets 非流动资产 Property, plant and equipment 物业、厂房及设备 203,008 �C 203,008 Intangible assets 无形资产 82,259 �C 82,259 Deposits, prepayments and other receivables 按金、预付款项及 其他应收款项 594 �C 594 Total non-current assets 非流动资产总额 285,861 �C 285,861 Current assets 流动资产 Inventories 存货 2,672 �C 2,672 Trade receivables 应收贸易账款 3,229 �C 3,229 Deposits, prepayments and other receivables 按金、预付款项及 其他应收款项 55,793 �C 55,793 Bank balances and cash 银行结余及现金 26,982 �C 26,982 Total current assets 流动资产总额 88,676 �C 88,676 Current liabilities 流动负债 Transfer fee payables 应付转会费 8,572 �C 8,572 Trade payables 应付贸易账款 6,878 �C 6,878 Accruals and other payables 应计款项及其他应付款项 41,268 �C 41,268 Deferred capital grants 递延资本拨款 592 �C 592 Amounts due to former directors 应付前董事款项 10,769 �C 10,769 Deferred income 递延收入 22,790 �C 22,790 Borrowings 贷款 120,259 (120,000) 259 Income tax payable 应付所得税 18,703 �C 18,703 Total current liabilities 流动负债总额 229,831 (120,000) 109,831 Net current liabilities 流动负债净额 (141,155) 120,000 (21,155) Total assets less current liabilities 资产总额减流动 负债 144,706 120,000 264,706 4. 重新编列去年数字 （ 续） (b) 於2016年6月30日之综合财务状况表 中期报告 INTERIM REPORT 2017 21 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） As at 30 June 2016 於 2016年6月30日 (As previously reported) （ 原先呈报） Effect of prior year’ s restatement 重新编列去年 数字之影响 As at 30 June 2016 於 2016年6月30日 (As restated) （ 经重列） HK$’000 HK$’000 HK$’000 千港元 千港元 千港元 Non-current liabilities 非流动负债 Transfer fee payables 应付转会费 2,598 �C 2,598 Accruals and other payables 应计款项及其他应付款项 890 �C 890 Deferred capital grants 递延资本拨款 16,371 �C 16,371 Borrowings 贷款 150,527 �C 150,527 Deferred tax liabilities 递延税项负债 28,426 �C 28,426 Total non-current liabilities 非流动负债总额 198,812 �C 198,812 NET (LIABILITIES)/ASSETS （ 负债）�u资产净额 (54,106) 120,000 65,894 Capital and reserves 资本及储备 Share capital 股本 96,811 �C 96,811 Reserves 储备 (151,277) 120,000 (31,277) (Capital deficiency)/equity attributable to owners of the Company 本公司拥有人应占 （ 资本亏绌）�u权益 (54,466) 120,000 65,534 Non-controlling interests 非控股权益 360 �C 360 (CAPITAL DEFICIENCY)/ TOTAL EQuITY （ 资本亏绌）�u 权益总额 (54,106) 120,000 65,894 4. 重新编列去年数字 （ 续） (b) 於2016年6月30日之综合财务状况表 （ 续） 4. RESTATEmENT OF PRIOR YEAR’S FIGuRES (Continued) (b) Consolidated statement of financial position as at 30 June 2016 (Continued) 22 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 5. REvENuE AND SEGmENT INFORmATION Revenue is measured at the fair value of the consideration received or receivable. Revenue is reduced for estimated customer returns, rebates and other similar allowance and exclude value added tax or other sales related taxes. The Group’s revenue and contribution to profit were mainly derived from the operation of a professional football club in the UK, which is regarded as a single reportable segment in a manner consistent with the way in which information is reported internally to the Group’s senior management for the purposes of resources allocation and performance assessment. In addition, the principal assets employed by the Group are located in the UK. Accordingly, no segment analysis is presented other than entity-wide disclosures. Entity-wide disclosures Information about the nature of revenue Six months ended 31 December 截至12月31日止六个月 2016 2015 2016年 2015年 HK$’000 HK$’000 千港元 千港元 (unaudited) (Unaudited) （ 未经审核） （ 未经审核） Broadcasting 广播 40,316 34,806 Commercial income 商业收入 31,661 33,730 Match day receipts 球赛日收入 22,556 26,606 94,533 95,142 5. 收益及分部资料 收益按已收或应收代价之公平值计量。收益已就 估计客户退货、回扣及其他类似津贴作出扣减， 且不包括增值税或其他销售相关税项。 本集团之收益及溢利贡献主要来自其於英国经营 专业足球球会，此业务被视为单一可呈报分部， 与内部向本集团高级管理人员报告资料以作资源 分配及表现评估之方式一致。此外，本集团所用 之主要资产位於英国。因此，除整体披露外，并 无呈报分部分析。 整体披露 有关收益性质之资料 中期报告 INTERIM REPORT 2017 23 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 6. OTHER INCOmE Six months ended 31 December 截至12月31日止六个月 2016 2015 2016年 2015年 HK$’000 HK$’000 千港元 千港元 (unaudited) (Unaudited) （ 未经审核） （ 未经审核） Compensation from player transfer 球员转会之赔偿 5,019 �C Gain on disposals of property, plant and equipment 出售物业、厂房及设备之收益 �C 112 Gain on settlement with a former director (note (i)) 与前董事和解之收益 （ 附注(i)） 2,198 �C Interest income 利息收入 351 77 Reversal of directors’ fee 董事袍金之拨回 714 �C Reversal of excess provision for donation 捐款超额拨备之拨回 5,620 5,970 Subsidies received from the Premier League (note (ii)) 自英格兰超级足球联赛获得之 补助金 （ 附注(ii)） 3,075 2,965 Sundry income 杂项收入 3,191 331 20,168 9,455 Notes: (i) During the six months ended 31 December 2016, a former director had accepted an offer of HK$3,000,000 from the Group for full and final settlement of the claims totaling approximately HK$5,198,000 claimed by the former director, resulting in a gain of approximately HK$2,198,000 from this settlement with the former director. (ii) During the six months ended 31 December 2 0 1 6 , t h e G r o u p ’ s p r o f e s s i o n a l f o o t b a l l operation received funding of approximately HK$3,075,000 (six months ended 31 December 2015: approximately HK$2,965,000) from the Premier League in the UK under the Elite Player Performance Plan upon fulfillment of certain terms and conditions. 6. 其他收入 附注： (i) 於截至2016年12月31日止六个月期间，一 名前董事接纳本集团提出以3,000,000港元 作为全数及最终偿付前董事所申索之申索总 额约5,198,000港元，因此产生与前董事和 解之收益约2,198,000港元。 (ii) 於截至2016年12月31日止六个月期间，本 集团之职业足球营运於若干条款及条件达成 後，根据精英球员表现计划自英国之英格兰 超级足球联赛获得资金约3,075,000港元 （ 截 至2015年12月31日止六个月：约2,965,000 港元）。 24 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 7. FINANCE COSTS Six months ended 31 December 截至12月31日止六个月 2016 2015 2016年 2015年 HK$’000 HK$’000 千港元 千港元 (unaudited) (Unaudited) （ 未经审核） （ 未经审核） Interest expenses on: 以下各项之利息开支： �C Other borrowings －其他贷款 5,439 3,329 �C Finance leases －融资租约 14 17 �C Effective interest on convertible notes －可换股票据之有效利息 982 �C 6,435 3,346 8. LOSS BEFORE TAXATION Loss before taxation is arrived after charging the following items: Six months ended 31 December 截至12月31日止六个月 2016 2015 2016年 2015年 HK$’000 HK$’000 千港元 千港元 (unaudited) (Unaudited) （ 未经审核） （ 未经审核） Amortisation of intangible assets 无形资产摊销 7,883 3,220 Depreciation of property, plant and equipment 物业、厂房及设备之折旧 4,241 6,021 Minimum lease payments under operating lease in respect of: 经营租约项下之最低租赁款项： �C Properties －物业 727 1,273 �C Others －其他 1,052 1,331 Staff costs (including directors' remuneration): 员工成本 （ 包括董事酬金） �C Salaries and wages －薪金及工资 89,822 75,583 �C Retirement benefits scheme contributions －退休福利计划之供款 9,555 8,571 99,377 84,154 7. 融资成本 8. 除税前亏损 除税前亏损乃扣除以下各项後达致： 中期报告 INTERIM REPORT 2017 25 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 9. INCOmE TAX CREDIT Six months ended 31 December 截至12月31日止六个月 2016 2015 2016年 2015年 HK$’000 HK$’000 千港元 千港元 (unaudited) (Unaudited) （ 未经审核） （ 未经审核） Deferred taxation �C UK: 递延税项－英国： Current period 本期间 130 1,682 No provision for Hong Kong profits tax has been made as the Group had no assessable profits arising from Hong Kong during the six months ended 31 December 2016 and 2015. Taxation arising in other jurisdictions is calculated at the rates prevailing in the respective jurisdictions. The Group’s subsidiaries in the UK are subject to Corporation Tax in the UK. No provision has been made in respect of Corporation Tax as these subsidiaries did not derive any assessable profits for the six months ended 31 December 2016 and 2015. 10. DIvIDEND The Board does not recommend the payment of any interim dividend for the six months ended 31 December 2016 (six months ended 31 December 2015: nil). 9. 所得税抵免 由於本集团於截至2016年及2015年12月31日止 六个月期间并无於香港产生应课税溢利，故并无 就香港利得税作出拨备。 其他司法权区产生之税项按有关司法权区之现行 税率计算。 本集团於英国之附属公司须缴付英国企业税。由 於该等附属公司於截至2016年及2015年12月31 日止六个月并无产生任何应课税溢利，故并无就 企业税作出拨备。 10. 股息 董事会不建议派发截至2016年12月31日止六个 月 （ 截至2015年12月31日止六个月：无）之中期股 息。 26 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 11. LOSS PER SHARE The calculation of basic loss per share is based on the loss for the six months ended 31 December 2016 attributable to owners of the Company of approximately HK$61,382,000 (six months ended 31 December 2015: approximately HK$52,772,000) and the weighted average number of 2,588,202,711 (six months ended 31 December 2015: 484,054,336 (restated)) ordinary shares in issue during the period. The weighted average number of shares adopted in the calculation of the basic loss per share for the six months ended 31 December 2015 has been adjusted to reflect the impact of the share consolidation which became effective on 7 September 2016 and of the Open Offer which was completed on 11 October 2016. The computations of diluted loss per share for the six months ended 31 December 2016 and 2015 are the same as the basic loss per share as the impact of the convertible notes outstanding had an anti-dilutive effect. 12. PROPERTY, PLANT AND EQuIPmENT During the period, the Group acquired property, plant and equipment of approximately HK$3,822,000 (six months ended 31 December 2015: approximately HK$1,490,000). 13. INTANGIBLE ASSETS During the period, the Group acquired new players of approximately HK$23,154,000 (six months ended 31 December 2015: approximately HK$11,204,000) during the summer transfer window and accounted for as players’ registration. 14. TRADE RECEIvABLES The aging analysis of trade receivables based on the invoice date net of impairment loss is as follows: As at 31 December 2016 As at 30 June 2016 於2016年 12月31日 於2016年 6月30日 HK$’000 HK$’000 千港元 千港元 (unaudited) (Audited) （ 未经审核） （ 经审核） Within 30 days 30日内 1,743 728 31 days to 90 days 31日至90日 1,810 958 91 days to 180 days 91日至180日 2,539 575 181 days to 365 days 181日至365日 541 968 6,633 3,229 The average credit period of the Group’s trade receivables is 90 days (30 June 2016: 90 days). 11. 每股亏损 每 股 基 本 亏 损 乃 按 截 至2016年12月31日 止 六 个 月 之 本 公 司 拥 有 人 应 占 亏 损 约61,382,000 港 元（ 截 至 2 0 1 5年 1 2月 3 1日 止 六 个 月：约 52,772,000港元） 及期内已发行普通股加权平均 数2,588,202,711股 （ 截至2015年12月31日止六个 月：484,054,336股 （ 经重列） )计算。 计算截至2015年12月31日止六个月之每股基本亏 损所采纳之股份加权平均数已作调整，以反映於 2016年9月7日生效之股份合并及於2016年10月 11日完成之公开发售之影响。 由於期内尚未行使之可换股票据具有反摊薄作 用，故计算截至2016年及2015年12月31日止六 个月之每股摊薄亏损与每股基本亏损均相同。 12. 物业、厂房及设备 於 期 内，本 集 团 购 入 物 业、厂 房 及 设 备 约 3,822,000港元 （ 截至2015年12月31日止六个月： 约1,490,000港元）。 13. 无形资产 於期内，本集团於夏季转会窗内购入新球员约 23,154,000港 元（ 截 至2015年12月31日 止 六 个 月：约11,204,000港元），并列作球员注册入账。 14. 应收贸易账款 按发票日期作出并扣除减值亏损之应收贸易账款 之账龄分析如下： 本集团应收贸易账款之平均信贷期为90天 （ 2016 年6月30日：90天）。 中期报告 INTERIM REPORT 2017 27 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 15. TRADE PAYABLES The aging analysis of trade payables based on the invoice date is as follows: As at 31 December 2016 As at 30 June 2016 於2016年 12月31日 於2016年 6月30日 HK$’000 HK$’000 千港元 千港元 (unaudited) (Audited) （ 未经审核） （ 经审核） Within 30 days 30日内 5,683 6,005 31 days to 90 days 31日至90日 3,484 455 91 days to 180 days 91日至180日 1,279 101 181 days to 365 days 181日至365日 189 317 10,635 6,878 The Group normally receives credit periods from suppliers averaging at 90 days (30 June 2016: 90 days). 16. ACCRuALS AND OTHER PAYABLES As at 31 December 2016 As at 30 June 2016 於2016年 12月31日 於2016年 6月30日 HK$’000 HK$’000 千港元 千港元 (unaudited) (Audited) （ 未经审核） （ 经审核） Accruals (note (i)) 应计款项 （ 附注 (i)） 33,239 39,321 Agent's fee payables 应付经纪人费用 6,203 2,837 39,442 42,158 Less: amounts due after one year 减：於一年後到期之款项 (3,081) (890) Amounts shown in current liabilities 列作流动负债所示之金额 36,361 41,268 Note: (i) Included in accruals are amounts of approximately HK$4,639,000 (30 June 2016: approximately HK$5,353,000) relating to accrued directors’ remuneration. Accruals and other payables are all non-interest bearing. 15. 应付贸易账款 按发票日期作出应付贸易账款之账龄分析如下： 本 集 团 一 般 向 供 应 商 取 得 平 均90天 之 信 贷 期 （ 2016年6月30日：90天）。 16. 应计款项及其他应付款项 附注： (i) 应计款项包括应计董事酬金约4,639,000港 元 （ 2016年6月30日：约5,353,000港元）。 应计款项及其他应付款项全部均不计息。 28 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 17. AmOuNTS DuE TO FORmER DIRECTORS As at 31 December 2016 As at 30 June 2016 於2016年 12月31日 於2016年 6月30日 HK$’000 HK$’000 千港元 千港元 (unaudited) (Audited) （ 未经审核） （ 经审核） Amounts due to former directors : 应付前董事款项： Hui Ho Luek, Vico (note (i)) 许浩略 （ 附注 (i)） �C 5,198 Yeung Ka Sing, Carson 杨家诚 5,571 5,571 5,571 10,769 Note: (i) u p d a t e o n H i g h C o u r t m i s c e l l a n e o u s Proceedings No. 1429 of 2016 On 30 January 2015, Mr. Hui Ho Luek, Vico (“mr. Hui”), the former executive director of the Company, issued a statutory demand against the Company for an alleged debt in a sum of approximately HK$5,231,000. The Company commenced settlement negotiations with Mr. Hui in order to explore the opportunity of settling his claim for the alleged debt amicably. In around midMay 2016, Mr. Hui’s solicitors threatened to issue a winding-up petition against the Company. The Company applied and the High Court granted an injunction order against Mr. Hui on 3 June 2016 from presenting the said winding-up petition. On 30 June 2016, the Company and Mr. Hui agreed to discontinue this proceedings which was approved by the High Court on 4 July 2016. On 16 December 2016, the Company and Mr. Hui entered into a settlement deed pursuant to which a sum of HK$3,000,000 was paid by the Company to Mr. Hui for the full and irrevocable settlement of this proceedings. The amounts are unsecured, interest free and repayable on demand. 17. 应付前董事款项 附注： (i) 高院杂项诉讼2016年第1429号 於2015年1月30日，本 公 司 前 任 执 行 董 事 许浩略先生（ 「 许先生」） 就指称债项合共约 5,231,000港元之款项向本公司发出法定要 求偿债书。本公司与许先生展开和解谈判， 以寻求友好地解决其就指称债项之索赔之机 会。於2016年5月中旬左右，许先生之律师 威胁发出针对本公司之清盘呈请。本公司已 申请并获高院於2016年6月3日授出针对许 先生提呈上述清盘呈请之禁制令。於2016 年6月30日，本公司及许先生同意终止有关 诉讼，并已於2016年7月4日获高院批准。 於2016年12月16日，本公司与许先生订立 和解契据，据此，本公司已向许先生支付一 笔3,000,000港元之款项作为全数及不可撤 回地和解有关诉讼。 该款项为无抵押、免息及须按要求偿还。 中期报告 INTERIM REPORT 2017 29 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 18. BORROWINGS As at 31 December 2016 As at 30 June 2016 於2016年 12月31日 於2016年 6月30日 HK$’000 HK$’000 千港元 千港元 (unaudited) (Audited and restated) （ 未经审核） （ 经审核及 经重列） Other loan �C secured (note (i)) 其他贷款－有抵押（ 附注 (i)） 39,114 150,314 Other loans �C unsecured 其他贷款－无抵押 176 192 Finance lease payable 应付融资租赁 139 280 39,429 150,786 At 31 December 2016 and 30 June 2016, total current and non-current bank and other borrowings were repayable as follows: As at 31 December 2016 As at 30 June 2016 於2016年 12月31日 於2016年 6月30日 HK$’000 HK$’000 千港元 千港元 (unaudited) (Audited and restated) （ 未经审核） （ 经审核及 经重列） Carrying amounts repayable : 应偿还之账面值： On demand or within one year 应要求或一年内 139 259 More than one year, but not exceeding five years 一年以上，但五年以内 39,290 150,527 39,429 150,786 Less: amounts due within one year shown in current liabilities 减：流动负债所列於 一年内到期之金额 (139) (259) Amounts shown under non-current liabilities 列作非流动负债之金额 39,290 150,527 18. 贷款 於2016年12月31日及2016年6月30日，流动及非 流动银行及其他贷款总额须按以下年期偿还： 30 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 18. BORROWINGS (Continued) Note: (i) On 26 June 2015 and 31 May 2016, the Company entered into the Loan Facility Agreement and an amendment letter to the Loan Facility Agreement, respectively, with Trillion Trophy to provide a term loan facility of up to HK$212,813,600 to the Company. On 31 May 2016, the Company and Trillion Trophy mutually agreed that the maturity date of the Loan Facility Agreement shall be extended to 25 June 2018 in accordance with the terms and conditions of the Loan Facility Agreement. The loan facility bears interest at a rate of 8% per annum and is secured by (i) a first fixed legal charge over the property owned by BCFC; (ii) a first floating charge over all the assets, goodwill, undertaking and uncalled capital, both present and future granted or to be granted by BCFC in favour of Trillion Trophy; and (iii) a first fixed charge over all books and other debts, both present and future granted or to be granted by BCFC, in favour of Trillion Trophy. 18. 贷款 （ 续） 附注： (i) 於2015年6月26日及2016年5月31日，本公 司与Trillion Trophy分别订立贷款融资协议及 贷款融资协议之修订函件，为本公司提供一 笔最高212,813,600港元之有期贷款融资。 於2016年5月31日，本公司及Trillion Trophy 相互同意根据贷款融资协议之条款及条件， 延後贷款融资协议之到期日至2018年6月25 日。 该贷款融资按年利率8%计息，并由下列各 项担保：(i) BCFC所持有之物业之第一固定 法定押记；(ii) BCFC目前及未来授出或将授 出之所有资产、商誉、承诺及未催缴股本以 Trillion Trophy为受益人之第一浮动押记；及 (iii) BCFC目前及未来授出或将授出之所有账 面及其他债务以Trillion Trophy为受益人之第 一固定押记。 中期报告 INTERIM REPORT 2017 31 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 19. CONvERTIBLE NOTES Convertible notes reserves HK$'000 千港元 At 1 July 2015 (audited and restated), 31 December 2015 (unaudited and restated) and 1 July 2016 (audited and restated) 於2015年7月1日 （ 经审核及经重列）、 2015年12月31日 （ 未经审核及 经重列）及2016年7月1日 （ 经审核及经重列） 232,500 Equity component of convertible notes issued 已发行可换股票据之权益部份 26,440 Conversion into ordinary shares 转换为普通股 (258,940) At 31 December 2016 (unaudited) 於2016年12月31日 （ 未经审核） �C The principal terms of the convertible notes are as follows: Debt CN/ CY unconverted Note 债务可换股票据�u CY尚未转换票据 u-Continent CN/ uC unconverted Note u-Continent 可换股票据�u uC尚未转换票据 New CN 新可换股票据 Notes (i) (ii) (iii) 附注 Maturity date 31 December 2016 31 December 2016 10 October 2019 到期日 2016年12月31日 2016年12月31日 2019年10月10日 Principal amount when issued HK$193,500,000 HK$175,000,000 HK$150,000,000 发行时本金金额 193,500,000港元 175,000,000港元 150,000,000港元 Interest rate zero zero 2% per annum 利率 零 零 年利率2% Conversion price HK$0.41 HK$0.41 HK$0.08 转换价 0.41港元 0.41港元 0.08港元 Conversion period 5 February 2014 to 31 December 2016 5 February 2014 to 31 December 2016 11 October 2016 to 10 October 2019 转换期 2014年2月5日至 2016年12月31日 2014年2月5日至 2016年12月31日 2016年10月11日至 2019年10月10日 19. 可换股票据 可换股票据储备 可换股票据之主要条款载列如下： 32 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 19. CONvERTIBLE NOTES (Continued) Notes: (i) On 20 December 2013, the Company and Mr. Yeung Ka Sing, Carson (“mr. Yeung”) agreed to capitalise the debt owed by the Company of HK$193,500,000 to Mr. Yeung (which had been novated from a subsidiary of the Company) by issuing a zero coupon convertible note (the “Debt CN”). The Debt CN is non-redeemable and could be converted to a total of approximately 6,450,000,000 ordinary shares of the Company at a conversion price of HK$0.03 per conversion share. On 14 November 2014, the Debt CN of the principal amount of HK$81,000,000 was converted into 2,700,000,000 ordinary shares of the Company at the conversion price of HK$0.03 per conversion share. As at 30 June 2015, the Debt CN in the principal amount of HK$112,500,000 was outstanding and remaining unconverted (the “CY unconverted Note”). By a writ of summons dated 13 July 2015, the Company and BCFC commenced legal proceedings against Mr. Yeung under High Court Action No.1590 of 2015 claiming a total of more than HK$100,000,000 from Mr. Yeung for various breaches of duties whilst he was a director of the Company and BCFC. References are made to the announcements of the Company dated 14 March 2016, 6 June 2016 and the Circular. On 8 March 2016, the Company, together with BCFC, entered into a settlement agreement with Mr. Yeung and Mr. Ryan Yeung (son of Mr. Yeung) (the “CY Settlement Agreement”) pursuant to which, among others, subject to and conditional upon the fulfilment of the conditions precedent thereto (details of which are set out in the section headed “Conditions precedent to the CY Settlement Agreement” of the Circular), the Company agreed to extend the maturity date of the CY Unconverted Note from 4 February 2016 to 31 December 2016 or to such other date as the parties to the settlement agreement may agree in writing (with all the other terms and conditions of the Debt CN remaining unchanged). 19. 可换股票据 （ 续） 附注： (i) 於2013年12月20日，本公司与杨家诚先生 （ 「 杨先生」） 协定，透过发行零票息可换股 票据（ 「 债务可换股票据」），资本化本公司 结欠杨先生之债务193,500,000港元（ 乃更 替自本公司一间附属公司）。债务可换股票 据不可赎回，并可以转换价每股可换股股 份0.03港元转换为合共约6,450,000,000股 本公司普通股。於2014年11月14日，本金 金额81,000,000港元之债务可换股票据已 按转换价每股可换股股份0.03港元转换为 2,700,000,000股本公司普通股。於2015年 6月30日，本金金额112,500,000港元之债 务可换股票据为未偿还及尚未获转换 （ 「 CY 尚未转换票据」）。 通 过 日 期 为2015年7月13日 之 传 讯 令 状， 本公司及BCFC根据高院民事诉讼2015年第 1590号提出法律程序，因杨先生担任本公 司及BCFC董事期间违反多项责任向其索偿 合共超过100,000,000港元。 谨此提述本公司於2016年3月14日及2016 年6月6日之公告以及该通函。於2016年3月 8日，本公司及BCFC与杨先生及杨梓骢先 生 （ 杨先生之子）订立和解协议 （ 「 CY和解协 议」），据此（ 其中包括） 待和解协议项下之 先决条件达成後并以此为条件 （ 详情载於该 通函内 「 CY和解协议之先决条件」 一节），本 公司同意延长CY尚未转换票据之到期日， 由2016年2月4日延期至2016年12月31日或 和解协议订约方可能以书面协定之其他日期 （ 债务可换股票据之所有其他条款及条件维 持不变）。 中期报告 INTERIM REPORT 2017 33 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 19. CONvERTIBLE NOTES (Continued) Notes: (Continued) (i) (Continued) Pursuant to the terms and conditions of the Debt CN, the initial conversion price of the Debt CN, being HK$0.03 per conversion share, would be adjusted to an adjusted conversion price of HK$0.41 per share after taking into account the effects of the share consolidation and the Open Offer (details of the adjustments are set out in the section headed “Adjustments to the Conversion Price of the Existing Convertible Notes” of the Circular). Based on the adjusted conversion price of HK$0.41 per conversion share, a total of 274,390,243 shares would be issued upon (i) the fulfilment of the conditions precedent as stated in the section headed “Conditions precedent to the CY Settlement Agreement” of the Circular; and (ii) the full exercise of the conversion rights under the CY Unconverted Note. On 17 October 2016, the abovementioned conditions precedent were fulfilled upon the resumption of trading of the shares of the Company on the Stock Exchange. In December 2016, CY Unconverted Note in the principal amount of HK$112,500,000 was converted into 274,390,243 ordinary shares of the Company at a conversion price of HK$0.41 per conversion share (note 20(iv)). 19. 可换股票据 （ 续） 附注： （ 续） (i) （ 续） 根据债务可换股票据之条款及条件，经计及 股份合并及公开发售之影响後，债务可换股 票据之初步转换价 （ 即每股可换股股份0.03 港元）将调整至经调整转换价每股0.41港元 （ 有关调整之详情载於该通函内「 现有可换 股票据之兑换价所作之调整」 一节）。按经 调整转换价每股可换股股份0.41港元计算， 待(i)该通函内「 CY和解协议之先决条件」 一 节所述之先决条件获达成；及(ii)CY尚未转 换票据之转换权获全面行使後，可发行合共 274,390,243股股份。 於2016年10月17日，上述先决条件於本公 司股份在联交所恢复买卖後已达成。 於2016年12月，本金金额112,500,000港元 之CY尚未转换票据已按转换价每股可换股 股份0.41港元转换为274,390,243股本公司 普通股 （ 附注20(iv)）。 34 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 19. CONvERTIBLE NOTES (Continued) Notes: (Continued) (ii) On 5 February 2014, the Company issued a zero coupon convertible note (the “First CN”) of principal amount of HK$50,000,000 to U-Continent Holdings Limited (“u-Continent”). On 21 February 2014, the First CN of the principal amount of HK$10,000,000 was converted into 333,333,333 ordinary shares of the Company at the conversion price of HK$0.03 per conversion share. In February and April 2014, the Company issued a zero coupon convertible note (the “Second CN”) (the First CN and the Second CN, collectively the “u-Continent CN”) in two tranches of aggregate principal amount of HK$125,000,000 to U-Continent. The first tranche of the Second CN of principal amount of HK$105,000,000 was issued on 5 February 2014 and the second tranche of the Second CN of principal amount of HK$20,000,000 was issued on 14 April 2014. On 9 October 2014, the Second CN of the principal amount of HK$45,000,000 was converted into 1,500,000,000 ordinary shares of the Company at the conversion price of HK$0.03 per conversion share. As at 30 June 2015, the First CN and the Second CN of aggregate principal amount of HK$120,000,000 was outstanding and remaining unconverted (the “uC unconverted Note”). Reference is made to the announcement of the Company dated 21 July 2015. On 21 July 2015, the Company had instituted legal proceedings against U-Continent in connection with alleged misrepresentations made by U-Continent in relation to the agreements of the First CN and the Second CN entered into between the Company and U-Continent (collectively, the “Agreements”) under which U-Continent subscribed convertible n o t e s o f a g g r e g a t e p r i n c i p a l a m o u n t o f HK$175,000,000 issued by the Company. By a letter to U-Continent dated 20 July 2015, the Company rescinded the Agreements and on 21 July 2015 issued a writ of summons against U-Continent under High Court Action No. 1648 of 2015 claiming for loss and damages suffered by the Company as a result of the alleged misrepresentations. 19. 可换股票据 （ 续） 附注： （ 续） (ii) 於2014年2月5日，本 公 司 向U-Continent Holdings Limited （ 「 u-Continent」）发行本 金金额为50,000,000港元之零票息可换股 票据 （ 「 第一可换股票据」）。於2014年2月21 日，本金金额10,000,000港元之第一可换股 票据已按转换价每股可换股股份0.03港元转 换为333,333,333股本公司普通股。於2014 年2月及4月，本公司分两批向U-Continent 发行本金总额125,000,000港元之零票息可 换股票据 （ 「 第二可换股票据」） （ 第一可换股 票据及第二可换股票据统称 「 u-Continent 可换股票据」），第二可换股票据之第一批 本金金额105,000,000港元已於2014年2月5 日发行及第二可换股票据之第二批本金金额 20,000,000港元已於2014年4月14日发行。 於2014年10月9日，本金金额45,000,000港 元之第二可换股票据按转换价每股可换股 股份0.03港元获转换为1,500,000,000股本 公司普通股。於2015年6月30日，本金总额 120,000,000港元之第一可换股票据及第二 可换股票据为未偿还及尚未获转换 （ 「 uC尚 未转换票据」）。 谨 此 提 述 本 公 司 日 期 为2015年7月21日 之 公 告。於2015年7月21日，本 公 司 就 U-Continent於 本 公 司 与U-Continent就 U-Continent认 购 本 公 司 所 发 行 本 金 总 额 为175,000,000港 元 之 可 换 股 票 据 订 立 之 第 一 可 换 股 票 据 及 第 二 可 换 股 票 据 协 议 （ 统 称「 该 等 协 议」） 中 作 出 涉 嫌 失 实 陈 述 向U-Continent提出法律诉讼。根据日期为 2015年7月20日 致U-Continent之 函 件，本 公司已撤销该等协议，并於2015年7月21日 根据高院民事诉讼2015年第1648号提交针 对U-Continent之传讯令状，以就本公司因 有关涉嫌失实陈述而蒙受之损失及损害提出 申索。 中期报告 INTERIM REPORT 2017 35 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 19. CONvERTIBLE NOTES (Continued) Notes: (Continued) (ii) (Continued) As a result of the above legal action, the Company had classified the UC Unconverted Note of the principal amount of HK$120,000,000 as an amount due to U-Continent and was included as borrowings in the Company’s financial statements of the prior financial periods. References are made to the announcements of the Company dated 26 April 2016, 6 June 2016 and the Circular. On 12 April 2016, the Company entered into a settlement agreement with U-Continent pursuant to which, among others, subject to and conditional upon the fulfilment of the conditions precedent thereto (details of which are set out in the section headed “Conditions precedent to the UC Settlement Agreement” of the Circular), the Company agreed to extend the maturity date of the UC Unconverted Note from 4 February 2016 to 31 December 2016 or to such other date as the parties to the settlement agreement may agree in writing (with all the other terms and conditions of the U-Continent CN remaining unchanged). Pursuant to the terms and conditions of the U-Continent CN, the initial conversion price of the U-Continent CN, being HK$0.03 per conversion share, would be adjusted to an adjusted conversion price of HK$0.41 per conversion share after taking into account the effects of the share consolidation and the Open Offer (details of the adjustments are set out in the section headed “Adjustments to the Conversion Price of the Existing Convertible Notes” of the Circular). Based on the adjusted conversion price of HK$0.41 per conversion share, a total of 292,682,925 shares would be issued upon (i) the fulfilment of the conditions precedent as stated in the section headed “Conditions precedent to the UC Settlement Agreement” of the Circular; and (ii) the full exercise of the conversion rights under the UC Unconverted Note. On 17 October 2016, the abovementioned conditions precedent were fulfilled upon the resumption of trading of the shares of the Company on the Stock Exchange. 19. 可换股票据 （ 续） 附注： （ 续） (ii) （ 续） 由於上述法律行动，本公司已将本金金额 120,000,000港元之UC尚未转换票据分类为 应付U-Continent款项，并於本公司於过往 财政期间之财务报表列作贷款入账。 谨此提述本公司日期为2016年4月26日及 2016年6月6日之公告以及该通函。於2016 年4月12日，本公司与U-Continent订立和解 协议，据此 （ 其中包括）待和解协议项下之先 决条件获达成後并以此为条件 （ 详情载於该 通函内 「 UC和解协议之先决条件」 一节），本 公司同意延长UC尚未转换票据之到期日， 由2016年2月4日延期至2016年12月31日或 和解协议订约方可能以书面协定之其他日期 (U-Continent可换股票据之所有其他条款及 条件维持不变）。 根 据U-Continent可换 股 票 据 之 条 款 及 条 件，经计及股份合并及公开发售之影响後， U-Continent可换股票据之初步转换价 （ 即每 股可换股股份0.03港元）将调整至经调整转 换价每股可换股股份0.41港元 （ 有关调整之 详情载於该通函内 「 现有可换股票据之兑换 价所作之调整」 一节）。按经调整转换价每股 可换股股份0.41港元计算，待 (i) 该通函内 「 UC和解协议之先决条件」 一节所述之先决 条件获达成；及 (ii) UC尚未转换票据之转换 权获全面行使後，可发行合共292,682,925 股股份。 於2016年10月17日，上述先决条件於本公 司股份在联交所恢复买卖後已获达成。 36 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 19. CONvERTIBLE NOTES (Continued) Notes: (Continued) (ii) (Continued) In October 2016, the UC Unconverted Note in the aggregate principal amount of HK$120,000,000 was converted into 292,682,925 ordinary shares of the Company at a conversion price of HK$0.41 per conversion share (note 20 (iv)). As a result of the above, the amount of HK$120,000,000 has been reclassified from borrowings to convertible notes reserve as from 1 July 2015. (iii) On 11 October 2016, the Company issued convertible notes (the “New CN”) with a principal amount of HK$150,000,000, convertible into 1,875,000,000 ordinary shares of the Company at a conversion price of HK$0.08 per conversion share for setting off against the drawn down amount of the term loan facility provided by Trillion Trophy to the Company. The New CN would be matured on 10 October 2019 and were interest bearing at 2% per annum. The effective interest rate used to estimate the liability component of the New CN is 8.7% per annum. In October and December 2016, the New CN in principal amount of HK$100,000,000 and HK$50,000,000 were converted into 1,250,000,000 and 625,000,000 ordinary shares of the Company at a conversion price of HK$0.08 per conversion share respectively (note 20(iv)). 19. 可换股票据 （ 续） 附注： （ 续） (ii) （ 续） 於 2 0 1 6 年 1 0 月 ， 本 金 金 额 合 共 为 120,000,000港元之UC尚未转换票据已按 转 换 价 每 股 可 换 股 股 份0.41港 元 转 换 为 292,682,925股本公司普通股 （ 附注20 (iv)）。 基 於 上 文 所 述，自 2 0 1 5年 7月 1日 起， 120,000,000港元已从贷款重新分类至可换 股票据储备。 (iii) 於2016年10月11日，本公司已发行本金金 额为150,000,000港元之可换股票据 （ 「 新可 换股票据」），可转换为1,875,000,000股本 公司普通股，转换价为每股可换股股份0.08 港元，以抵销Trillion Trophy向本公司所提供 之有期贷款融资之已提取款项。新可换股票 据将於2019年10月10日到期，按年利率2% 计息。 於估计新可换股票据之负债部份所使用之有 效年利率为8.7%。 於 2 0 1 6 年 1 0 月 及 1 2 月 ， 本 金 金 额 100,000,000港 元 及50,000,000港 元 之 新 可 换 股 票 据 已 按 转 换 价 每 股 可 换 股 股 份 0.08港 元 分 别 转 换 为1,250,000,000股 及 625,000,000股本公司普通股 （ 附注20(iv)）。 中期报告 INTERIM REPORT 2017 37 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 19. CONvERTIBLE NOTES (Continued) Notes: (Continued) (iii) (Continued) The nominal value of the New CN issued had been split between the liability component and equity component as follows: HK$'000 千港元 Nominal value of New CN issued 已发行新可换股票据面值 150,000 Equity component 权益部份 (26,440) Liability component at the date of issue 於发行日期之负债部份 123,560 Interest charged for the six months ended 31 December 2016 calculated at an effective interest rate of 8.7% per annum 按有效年利率8.7%计算 截至2016年12月31日止六个月 之利息开支 982 Interest payable for the six months ended 31 December 2016 截至2016年12月31日止六个月 之应付利息 (274) Conversion of New CN 转换新可换股票据 (124,268) Liability component at 31 December 2016 於2016年12月31日之负债部份 �C 20. SHARE CAPITAL Amount Number 金额 Notes of shares HK$'000 附注 股份数目 千港元 Ordinary shares of HK$0.01 each 每股面值0.01港元之普通股 Authorised : 法定： At 1 July 2015 (audited), 31 December 2015 (unaudited) and 1 July 2016 (audited) 於2015年7月1曰 （ 经审核）、 2015年12月31日(未经审核) 及2016年7月1日 （ 经审核） 50,000,000,000 500,000 Share consolidation 股份合并 (i) (47,500,000,000) �C Capital reduction 股本削减 (i) �C (475,000) Authorised share capital cancellation 法定股本注销 (i) (2,015,945,664) (20,159) Authorised share capital increase 法定股本增加 (i) 49,515,945,664 495,159 At 31 December 2016 (unaudited) 於2016年12月31日 （ 未经审核） 50,000,000,000 500,000 19. 可换股票据 （ 续） 附注： （ 续） (iii) （ 续） 已发行新可换股票据之面值可分为负债部份 及权益部份，载列如下： 20. 股本 38 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 20. SHARE CAPITAL (Continued) Amount Number 金额 Notes of shares HK$'000 附注 股份数目 千港元 Issued and fully paid: 已发行及缴足： At 1 July 2015 (audited), 31 December 2015 (unaudited) and 1 July 2016 (audited) 於2015年7月1日 （ 经审核）、2015年 12月31日 （ 未经审核）及 2016年7月1日 （ 经审核） 9,681,086,733 96,811 Capital reorganisation 股本重组 (i) (9,197,032,397) (91,970) 484,054,336 4,841 Issue of shares upon share subscription 股份认购时发行股份 (ii) 3,125,000,000 31,250 Issue of shares upon open offer 公开发售时发行股份 (iii) 242,027,168 2,420 Issue of shares upon conversion of convertible notes 於转换可换股票据时 发行股份 (iv) 2,442,073,168 24,421 At 31 December 2016 (unaudited) 於2016年12月31日 （ 未经审核） 6,293,154,672 62,932 Notes: (i) The capital reorganisation of the Company which became effective on 7 September 2016 comprised the following: Share consolidation The share consolidation was implemented to consolidate every twenty issued and unissued shares of the Company of HK$0.01 each into one share (the “Consolidated Share(s)”) of HK$0.20 each. As a result, 9,681,086,733 issued shares of the Company were consolidated into 484,054,336 Consolidated Shares of HK$0.20 each. Capital reduction The capital reduction involved a reduction in the nominal value of each of the issued Consolidated Shares from HK$0.20 per Consolidated Share to HK$0.01 per new share by cancelling HK$0.19 of the capital paid up on each issued Consolidated Share, which gave rise to a credit of approximately HK$91,970,000 on the basis of 484,054,336 Consolidated Shares then in issue. Such credit was approved by the Grand Court of the Cayman Islands (“Grand Court”) to set off part of the accumulated losses of the Company. 20. 股本 （ 续） 附注： (i) 本 公 司 之 股 本 重 组 已 於2016年9月7日 生 效，包括下列各项： 股份合并 股份合并涉及将每二十股本公司每股面值 0.01港元之已发行及未发行股份合并为一股 每股面值0.20港元之股份 （ 「 合并股份」）。因 此，本公司9,681,086,733股已发行股份已 合并为484,054,336股每股面值0.20港元之 合并股份。 股本削减 股本削减涉及透过注销每股已发行合并股份 缴足股本中0.19港元，将已发行合并股份之 面值由每股合并股份0.20港元削减至每股新 股份0.01港元，按当时484,054,336股已发 行合并股份计算，产生进账约91,970,000港 元。有关进账额已获开曼群岛大法院 （ 「 大法 院」）批准用作抵销本公司之部份累计亏损。 中期报告 INTERIM REPORT 2017 39 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 20. SHARE CAPITAL (Continued) Notes: (Continued) (i) (Continued) Share premium cancellation As approved by the Grand Court, the entire amount of approximately HK$1,272,710,000 standing to the credit of the share premium account of the Company as at 30 June 2016 was cancelled and applied to set off part of the accumulated losses of the Company as at 30 June 2016. Authorised share capital cancellation Immediately following the capital reduction and share premium cancellation, all the existing authorised but unissued shares were cancelled in their entirety. Authorised share capital increase The authorised share capital of the Company was increased from HK$4,840,543.36 divided into 484,054,336 shares of HK$0.01 each to HK$500,000,000.00 divided into 50,000,000,000 shares of HK$0.01 each. (ii) Share Subscription Completion of the Share Subscription took place on 11 October 2016 pursuant to which 3,125,000,000 subscription shares with par value of HK$0.01 each were issued to Trillion Trophy, the controlling Shareholder, at the subscription price of HK$0.08 per subscription share. Accordingly, the Company’s issued share capital was increased by HK$31,250,000 and its share premium account was increased by HK$218,750,000. The transaction costs related to the Share Subscription were approximately HK$112,000. 20. 股本 （ 续） 附注： （ 续） (i) （ 续） 股份溢价注销 根 据 大 法 院 所 批 准 ， 本 公 司 股 份 溢 价 账 於 2 0 1 6年 6月 3 0日 之 全 部 进 账 约 1,272,710,000港元已注销并用以抵销本公 司於2016年6月30日之部份累计亏损。 法定股本注销 紧随股本削减及股份溢价注销後，所有现有 法定但尚未发行之股份已悉数注销。 法定股本增加 本 公 司 之 法 定 股 本 由4,840,543.36港 元 （ 分为484,054,336股每股面值0.01港元之 股 份） 增 加 至500,000,000.00港 元（ 分 为 50,000,000,000股 每 股 面 值0.01港 元 之股 份）。 (ii) 股份认购 股 份 认 购 已 於2016年10月11日 完 成，据 此，已按认购价每股认购股份0.08港元发行 3,125,000,000股每股面值0.01港元之认购 股份予控股股东Trillion Trophy。因此，本公 司之已发行股本已增加31,250,000港元，而 其股份溢价账已增加218,750,000港元。股 份认购相关交易成本约为112,000港元。 40 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 20. SHARE CAPITAL (Continued) Notes: (Continued) (iii) Open Offer Completion of the Open Offer on the basis of one offer share for every two shares held by the qualifying Shareholders after the completion of the capital reorganisation at the subscription price of HK$0.08 per offer share with par value of HK$0.01 each took place on 11 October 2016 pursuant to which 242,027,168 offer shares were issued under the Open Offer. Accordingly, the Company’s issued share capital was increased by approximately HK$2,420,000 and its share premium account was increased by approximately HK$16,942,000. The transaction costs related to the Open Offer were approximately HK$508,000. (iv) Conversion of convertible notes During the period under review, CY Unconverted Note, UC Unconverted Note and New CN in principal amount of HK$112,500,000, HK$120,000,000 and HK$150,000,000 were converted into 274,390,243, 292,682,925 and 1,875,000,000 ordinary shares of the Company at a conversion price of HK$0.41, HK$0.41 and HK$0.08 per conversion share respectively. The transaction costs related to the conversion of convertible notes were approximately HK$7,000. 20. 股本 （ 续） 附注： （ 续） (iii) 公开发售 公 开 发 售 已 於2016年10月11日 完 成，据 此，已 於 股 本 重 组 完 成 後 按 认 购 价 每 股 发售股份0.08港元以合资格股东每持有两 股 股 份 可 获 发 一 股 发 售 股 份 之 基 准 发 行 242,027,168股每股面值0.01港元之发售股 份。因此，本公司之已发行股本已增加约 2,420,000港元，而其股份溢价账已增加约 16,942,000港元。公开发售相关交易成本约 为508,000港元。 (iv) 转换可换股票据 於 回 顾 期 间，本 金 金 额112,500,000港 元、120,000,000港 元 及150,000,000港 元之CY尚 未 转 换 票 据、UC尚 未 转 换 票 据 及 新 可 换 股 票 据 已 分 别 按 转 换 价 每 股 可 换 股 股 份0.41港 元、0.41港 元 及0.08港 元 转 换274,390,243股、292,682,925股 及 1,875,000,000股本公司普通股。转换可换 股票据相关交易成本约为7,000港元。 中期报告 INTERIM REPORT 2017 41 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 21. CONTINGENT LIABILITIES Other than disclosed elsewhere in these condensed consolidated interim financial statements, at the end of the reporting period, the Group had the following contingent liabilities: (a) Player transfer costs Under the terms of certain contracts with other football clubs in respect of player transfers, additional player transfer cost would become payable if certain specific conditions are met. The maximum amount not provided that could be payable in respect of the transfers up to 31 December 2016 was approximately HK$47,536,000 (equivalent to approximately GBP4,988,000). From the end of the reporting period and up to the date of this report, approximately HK$953,000 (equivalent to GBP100,000) of these amounts have been crystallised. (b) Litigation: High Court Action No. 1099 of 2013 On 9 May 2013, Mr. Lee Yiu Tung (“mr. Lee”), a former executive director of the Company, filed a claim with the Labour Tribunal of Hong Kong against the Company for, amongst others, unpaid wages, wages in lieu of notice and expenses allegedly paid by him on behalf of the Company for a sum of approximately HK$1,484,000. The Company made a counterclaim against Mr. Lee on 8 October 2013 in respect of, amongst others, wages paid to him in the aggregate sum of HK$240,000 for the months from July to October 2012 and reimbursement of out-of-pocket expenses paid by the Company to him during 2010 to 2012 totaling approximately HK$2,000,000 for business and projects not related to the Company. On 4 June 2013, the Labour Tribunal of Hong Kong made an order to transfer the case to the High Court. At a case management conference held on 12 October 2016 at the High Court, the High Court directed that the case management conference be adjourned to 5 April 2017, and ordered that (i) the Company and Mr. Lee (collectively the “Parties”) should exchange their witness statements by 28 November 2016; (ii) the parties should obtain Counsel’s advice within 28 days thereafter; and (iii) all interlocutory applications should be taken out within 14 days thereafter. 21. 或然负债 於报告期末，除於此等简明综合中期财务报表之 其他部份所披露者外，本集团有下列或然负债�U (a) 球员转会费 根据就球员转会与其他足球球会订立之若 干合约条款，倘符合若干特定条件，则应付 额外球员转会费。直至2016年12月31日可 能就转会应付而尚未计提拨备之最高金额 约为47,536,000港元（ 相等於约4,988,000 英镑）。自报告期末起直至本报告日期，此 等款项中约953,000港元 （ 相等於100,000英 镑）已经实现。 (b) 诉讼：高院民事诉讼2013年第1099号 於2013年5月9日，本公司前任执行董事李 耀东先生（ 「 李先生」） 向香港劳资审裁处提 出针对本公司之申索，追索（ 其中包括） 欠 薪、代通知金及指称代本公司支付之开支合 共约1,484,000港元。本公司於2013年10月 8日向李先生提出反申索，追索 （ 其中包括） 2012年7月至10月份已付李先生之工资总额 240,000港元及於2010年至2012年期间本公 司为与本公司无关之业务及项目已付李先生 之实际开支付还合共约2,000,000港元。於 2013年6月4日，香港劳资审裁处下令将案 件转交高院判决。 於2016年10月12日於高院召开之案件管理 会议，高院命令案件管理会议押後至2017年 4月5日，并命令：(i) 本公司及李先生 （ 统称 「 双方」）应於2016年11月28日之前交换证人 陈述书；(ii) 双方应於其後28日内取得律师意 见；及 (iii) 所有非正审申请应於其後14日内 提出。 42 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS (Continued) 简明综合中期财务报表附注 （ 续） 21. CONTINGENT LIABILITIES (Continued) (b) Litigation: High Court Action No. 1099 of 2013 (Continued) Subsequently, considering the lack of particulars in the statement of claim filed by Mr. Lee, the Company filed and served a request for further and better particulars of the statement of claim on 6 January 2017. On 16 January 2017, Mr. Lee also filed and served a request for further and better particulars of the defence and counterclaim filed by the Company. Both requests have yet to be answered. In the meantime, the deadline for the Parties to exchange their witness statements have been extended to 16 March 2017. The 4th case management conference will be proceeded on 5 April 2017. As at the date of this report, the legal proceedings between the Parties are still in progress. 21. 或然负债 （ 续） (b) 诉讼：高院民事诉讼2013年第1099号 （ 续） 其後，考虑到李先生所入禀之申索书欠缺详 细资料，本公司於2017年1月6日入禀及提 出要求取得申索书进一步及更清晰之内容。 於2017年1月16日，李先生亦入禀及提出要 求取得本公司所入禀之抗辩书及反申索书进 一步及更清晰之内容。双方之要求尚未取得 答覆。同时，双方交换证人陈述书之最後期 限已延期至2017年3月16日。第四次案件管 理会议将於2017年4月5日召开。 於本报告日期，双方之间的法律程序仍在进 行中。 OTHER INFORMATION 其他资料 中期报告 INTERIM REPORT 2017 43 INTERIm DIvIDEND The Board has resolved not to declare an interim dividend for the six months ended 31 December 2016 (six months ended 31 December 2015: nil). DIRECTORS’ AND CHIEF EXECuTIvES’ INTERESTS IN SECuRITIES As at 31 December 2016, none of the Directors, chief executives of the Company and their associates had any interests or short positions in the shares, underlying shares and debentures of the Company or its associated corporations (within the meaning of Part XV of the SFO) which would have to be notified to the Company and the Stock Exchange pursuant to Divisions 7 and 8 of Part XV of the SFO or which are required, pursuant to section 352 of the SFO, to be entered in the register referred to therein, or which are required to be notified to the Company and the Stock Exchange pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers (the “model Code”) as set out in Appendix 10 to the Listing Rules. DIRECTORS’ RIGHTS TO ACQuIRE SHARES OR DEBENTuRES Save as disclosed under the heading “SHARE OPTION SCHEME” below, at no time during the six months ended 31 December 2016 was the Company, its holding company or its subsidiaries a party to any arrangements to enable any directors to acquire benefits by means of the acquisition of shares in, or debentures of the Company or any other body corporate. None of the Directors nor their spouses nor their children under the age of 18, had any right to subscribe for the shares of the Company, or had exercised any such rights during the six months ended 31 December 2016. 中期股息 董事会已决议不宣派截至2016年12月31日止六个月 之中期股息 （ 截至2015年12月31日止六个月：无）。 董事及主要行政人员於证券之权益 於2016年12月31日，董事、本公司主要行政人员与 彼等之联系人士并无於本公司或其相联法团（ 定义 见证券及期货条例第XV部） 之股份、相关股份及债 券中拥有任何根据证券及期货条例第XV部第7及8分 部须知会本公司及联交所之权益或淡仓，或根据证 券及期货条例第352条须载入该条例所指之登记册 之权益或淡仓，或根据上市规则附录十所载之上市 发行人董事进行证券交易的标准守则 （ 「 标准守则」） 须知会本公司及联交所之权益或淡仓。 董事购买股份或债券之权利 除下文 「 购股权计划」 所披露者外，本公司、其控股 公司或其附属公司於截至2016年12月31日止六个月 期间任何时间并无参与任何安排，致使任何董事可 藉购入本公司或任何其他法人团体之股份或债券而 获取利益。董事或彼等之配偶或未满18岁之子女於 截至2016年12月31日止六个月期间概无拥有认购本 公司股份之任何权利或已行使任何有关权利。 44 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 OTHER INFORMATION (Continued) 其他资料 （ 续） SHARE OPTION SCHEmE Pursuant to an ordinary resolution passed at the annual general meeting of the Company held on 30 December 2016, the Company has adopted the new share option scheme (the “Share Option Scheme”) and the share option scheme adopted by the Company on 30 July 2007 (the “2007 Share Option Scheme”) was terminated on the same date. The purpose of the Share Option Scheme is to provide eligible participants with the opportunity to acquire proprietary interests in the Company and to encourage eligible participants to work towards enhancing the value of the Company and its shares for the benefit of the Company and the Shareholders as a whole. No share options were granted by the Company under the Share Option Scheme since its adoption. There is no outstanding share option granted under the 2007 Share Option Scheme as at 30 June 2016 and 31 December 2016. . Details of the 2007 Share Option Scheme and the Share Option Scheme were set out in the 2016 Annual Report and the Company’s circular dated 28 November 2016 respectively. 购股权计划 根据於2016年12月30日举行的本公司股东周年大 会通过之普通决议案，本公司已采纳新购股权计划 （ 「 购股权计划」），而於2007年7月30日采纳之购股 权计划（ 「 2007年购股权计划」） 亦於同日终止。购 股权计划旨在向合资格参与人士提供获得本公司所 有权权益的机会，并鼓励合资格参与人士为本公司 及股东之整体利益而努力提升本公司及其股份的价 值。 自采纳购股权计划後，本公司并无根据该计划授出 购股权。 於2016年6月30日 及2016年12月31日，本 公 司 於 2007年购股权计划项下并无尚未行使之购股权。 2007年购股权计划及购股权计划之详情分别载列於 2016年年报及日期为2016年11月28日之本公司通 函内。 OTHER INFORMATION 其他资料 中期报告 INTERIM REPORT 2017 45 OTHER INFORMATION (Continued) 其他资料 （ 续） INTERESTS AND SHORT POSITIONS OF SHAREHOLDERS DISCLOSEABLE uNDER THE SFO So far as is known to the Directors, as at 31 December 2016, according to the register of interest kept by the Company under section 336 of the SFO, the following persons (not being a Director or chief executive of the Company) had interests or short positions in shares or underlying shares of the Company which would fall to be disclosed to the Company and the Stock Exchange under the provisions of Divisions 2 and 3 of Part XV of the SFO: Name of shareholders 股东名称 Capacity and nature of interest 身份及权益性质 Number of shares interested (note (i)) 拥有权益之 股份数目 （ 附注(i)） Notes 附注 Approximate percentage of issued share capital of the Company 占本公司已 发行股本 概约百分比 Trillion Trophy Beneficial owner 实益拥有人 3,825,000,000 (ii) 60.78% Wealthy Associates International Limited (“Wealthy Associates”) Interest of controlled corporation 受控制法团权益 3,825,000,000 (ii) 60.78% Mr. Suen Cho Hung, Paul (“mr. Suen”) 孙粗洪先生（ 「 孙先生」 ） Interest of controlled corporation 受控制法团权益 3,825,000,000 (ii) 60.78% Mr. Yeung 杨先生 Beneficial owner 实益拥有人 409,390,243 6.51% U-Continent Beneficial owner 实益拥有人 331,982,926 (iii) 5.28% Mr. Wang Lei (“mr. Wang”) 王雷先生（ 「 王先生」 ） Interest of controlled corporation 受控制法团权益 331,982,926 (iii) 5.28% Notes: (i) All the above interests in the shares of the Company were long positions. (ii) Trillion Trophy is a wholly owned subsidiary of Wealthy Associates which in turn is wholly owned by Mr. Suen. Accordingly, Wealthy Associates and Mr. Suen are deemed to be interested in the 3,825,000,000 shares held through Trillion Trophy under the SFO. 根据证券及期货条例股东须予披露的权益及淡仓 据董事所知，於2016年12月31日，按照本公司根据 证券及期货条例第336条存置的权益登记册所示， 下列人士 （ 并非董事或本公司主要行政人员）於本公 司之股份或相关股份中拥有根据证券及期货条例第 XV部第2及3分部条文须向本公司及联交所披露的权 益或淡仓： 附注： (i) 所有上述之本公司股份权益均为好仓。 (ii) Trillion Trophy为Wealthy Associates之 全 资 附 属 公 司，而Wealthy Associates则 由 孙 先 生 全 资拥有。因此，Wealthy Associates及孙先生根 据证券及期货条例被视为透过Trillion Trophy於 3,825,000,000股股份中拥有权益。 46 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 OTHER INFORMATION (Continued) 其他资料 （ 续） INTERESTS AND SHORT POSITIONS OF SHAREHOLDERS DISCLOSEABLE uNDER THE SFO (Continued) Notes: (Continued) (iii) U-Continent is wholly owned by Mr. Wang. Mr. Wang is deemed to be interested in 331,982,926 shares held through U-Continent under the SFO. Save as disclosed above, to the best knowledge of the Directors, there is no person known to the Directors, who as at 31 December 2016, had an interest or short position in the shares and underlying shares of the Company which would fall to be disclosed to the Company and the Stock Exchange under the provisions of Divisions 2 and 3 of Part XV of the SFO or which were required to be recorded in the register required to be kept by the Company pursuant to section 336 of the SFO. CHANGE OF COmPANY NAmE On 20 February 2017, the Company announced that the Board proposed to change the name of the Company from “Birmingham International Holdings Limited 伯明 翰环球控股有限公司” to “Birmingham Sports Holdings Limited 伯明翰体育控股有限公司” (“Change of Company Name”). The stock short name of the Company will be changed consequently. Change of Company Name is subject to (1) the passing of a special resolution by the Shareholders to approve the Change of Company Name at an extraordinary general meeting of the Company (“EGm”); and (2) the Registrar of Companies in the Cayman Islands granting approval for the Change of Company Name. A special resolution will be proposed at the EGM for the Shareholders to consider and, if thought fit, to approve the Change of Company Name and details of which will be contained in the circular to be despatched to the Shareholders. As at the date of this report, the Change of Company Name is not yet effective. 根据证券及期货条例股东须予披露的权益及淡仓 （ 续） 附注： （ 续） (iii) U-Continent由 王 先 生 全 资 拥 有。王 先 生 根 据 证 券 及 期 货 条 例 被 视 为 透 过U-Continent於 331,982,926股股份中拥有权益。 除上述披露者外，就董事所知，於2016年12月31 日，本公司董事并无获悉任何人士於本公司之股份 及相关股份中拥有根据证券及期货条例第XV部第2 及3分部之条文须向本公司及联交所披露，或本公 司根据证券及期货条例第336条存置之登记册所记 录之权益或淡仓。 更改公司名称 於2017年2月20日，本公司公告董事会建议将本公司 名称由 「 Birmingham International Holdings Limited 伯明翰环球控股有限公司」 更改为「 Birmingham Sports Holdings Limited 伯明翰体育控股有限公司」 （ 「 更改公司名称」）。本公司之股份简称亦将於其後 更改。更改公司名称须待 (1) 股东於本公司股东特别 大会 （ 「 股东特别大会」）上通过特别决议案，以批准 更改公司名称；及 (2) 开曼群岛公司注册处处长批准 更改公司名称後，方可作实。 於股东特别大会上将予提呈一项特别决议案以供股 东考虑及酌情批准更改公司名称，有关详情将载列 於将寄发予股东之通函内。於本报告日期，更改公 司名称尚未生效。 OTHER INFORMATION 其他资料 中期报告 INTERIM REPORT 2017 47 OTHER INFORMATION (Continued) 其他资料 （ 续） CORPORATE GOvERNANCE The Board believes that good corporate governance is crucial to improve the efficiency and performance of the Group and to safeguard the interests of the Shareholders. During the period under review, the Company has complied with the Corporate Governance Code (the “CG Code”) as set out in Appendix 14 to the Listing Rules except for the following deviation: Code Provision A.2.1 Code provision A.2.1 of the CG Code stipulates that the roles of chairman and chief executive should be separate and should not be performed by the same individual. The division of responsibilities between the chairman and chief executive should be clearly established and set out in writing. Deviation There had been a deviation from code provision A.2.1 since Mr. Zhao Wenqing, an Executive Director, served both the roles of chairman and chief executive officer (the “CEO”) of the Company during the period from 15 October 2016 to 26 January 2017. However, the aforesaid deviation was rectified and code provision A.2.1 has been complied with following the appointment of Mr. Huang Dongfeng, an Executive Director of the Company, as the CEO with effect from 27 January 2017. The Board is responsible for the Company’s corporate governance and continues to monitor and review the Company’s corporate governance practices. mODEL CODE FOR SECuRITIES TRANSACTIONS BY DIRECTORS The Company has adopted the Model Code as its own code of conduct regarding securities transactions by the directors. The prohibitions on securities dealing and disclosure requirements in the Model Code apply to specified individuals including the Group’s senior management and also persons who are privy to price sensitive information of the Group. Having made specific enquiry of all Directors, all of them confirmed that they had complied with the Model Code regarding directors’ securities transactions during the period under review. 企业管治 董事会相信良好企业管治对改善本集团效率与表 现，以及保障股东利益至为重要。 於回顾期内，本公司一直遵守上市规则附录十四所 载的企业管治守则 （ 「 企业管治守则」），惟以下偏离 事项除外： 守则条文第A.2.1条 企业管治守则的之守则条文第A.2.1条规定主席与行 政总裁的角色应有区分，并不应由一人同时兼任。 主席与行政总裁之间职责的分工应清楚界定并以书 面列载。 偏离 执行董事赵文清先生於2016年10月15日至2017年 1月26日期间兼任本公司主席及行政总裁 （ 「 行政总 裁」） 职务，有关安排偏离守则条文第A.2.1条之规 定。然而，於2017年1月27日委任本公司执行董事 黄东风先生为行政总裁後，本公司已修正上述偏离 事项及遵守守则条文第A.2.1条。 董事会负责本公司之企业管治，并持续监督及检讨 本公司之企业管治实践。 董事进行证券交易之标准守则 本公司已采纳标准守则作为其本身董事进行证券交 易之行为守则。标准守则有关证券买卖之限制及披 露规定适用於特定个别人士，包括本集团之高级管 理人员及其他知悉本集团股价敏感资料之人士。经 向全体董事作出特定查询後，彼等已确认於回顾期 间已遵守有关董事进行证券交易之标准守则。 48 BIRMINGHAM INTERNATIONAL HOLDINGS LIMITED 伯明翰环球控股有限公司 OTHER INFORMATION (Continued) 其他资料 （ 续） uPDATE ON DIRECTORS’ INFORmATION The following is the information of a Director required to be disclosed pursuant to Rule 13.51B(1) to the Listing Rules up to and including 27 February 2017, being the date of this report: Mr. To Yan Ming, Edmond was appointed as an independent non-executive director of SH Group (Holdings) Limited (stock code: 1637), a listed company in Hong Kong, on 6 December 2016. AuDIT COmmITTEE The Audit Committee comprises of three Independent Non-executive Directors, namely Mr. To Yan Ming, Edmond, Mr. Pun Chi Ping and Ms. Leung Pik Har, Christine. Mr. To Yan Ming, Edmond is the chairman of the Audit Committee. The condensed consolidated interim financial statements of the Company for the six months ended 31 December 2016 have not been audited, but have been reviewed by the Audit Committee and have been duly approved by the Board under the recommendation of the Audit Committee. PuRCHASE, SALE OR REDEmPTION OF SECuRITIES OF THE COmPANY During the six months ended 31 December 2016, neither the Company nor any of its subsidiaries had purchased, redeemed or sold any of the Company’s listed securities. By Order of the Board Birmingham International Holdings Limited Zhao Wenqing Chairman Hong Kong, 27 February 2017 董事资料更新 根据上市规则第13.51B(1) 条须予披露的董事资料 载列如下，有关资料更新至2017年2月27日 （ 包括该 日），即本报告之日期： 杜恩鸣先生於2016年12月6日获委任为顺兴集团 （ 控 股） 有限公司（ 股份代号：1637） 之独立非执行董 事，该公司为香港上市公司。 审核委员会 审核委员会由三名独立非执行董事组成，分别为杜 恩鸣先生、潘治平先生及梁碧霞女士。杜恩鸣先生 先生为审核委员会主席。 本公司於截至2016年12月31日止六个月之简明综 合中期财务报表乃未经审核，惟已由审核委员会审 阅，并由董事会在审核委员会之建议下正式批准。 购买、出售或赎回本公司证券 於截至2016年12月31日止六个月期间，本公司或其 任何附属公司概无购买、赎回或出售本公司任何上 市证券。 承董事会命 伯明翰环球控股有限公司 主席 赵文清 香港，2017年2月27日 Birmingham International Holdings Limited 伯 明 翰 环 球 控 股 有 限 公 司 Room 1200, 12th Floor, Wing On Centre 111 Connaught Road Central, Sheung Wan, Hong Kong 香港上环干诺道中111号永安中心12楼1200室 Tel 电话: (852) 2548 2928 Fax 传真: (852) 2548 2782 www.bihl.com.hk