Annual Report 2014/15

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Hong Kong Cyberport Management Company Limited
Annual Report 2014/15 104
Notes to the Financial Statements 財務報表附註
Page 104
3 Financial risk management and fair values of
financial instruments (continued)
(b) Fair values measurement
(i) Financial assets and liabilities carried at fair value
The Company’s investments in securities at fair value
through profit or loss are measured using market quoted
prices and therefore fall within the Level 1 fair value
hierarchy as defined in HKFRS 13.
Fair value hierarchy
The level into which a fair value measurement is classified
is determined with reference to the observability and
significance of the inputs used in the valuation technique
as follows:
— Level 1 valuations: Fair value measured using only
Level 1 inputs i.e. unadjusted quoted prices in active
markets for identical assets or liabilities at the
measurement date.
— Level 2 valuations: Fair value measured using Level 2
inputs i.e. observable inputs which fail to meet Level
1, and not using significant unobservable inputs.
Unobservable inputs are inputs for which market
data are not available.
— Level 3 valuations: Fair value measured using
significant unobservable inputs.
During the years ended 31 March 2014 and 2015, there
were no transfers between Level 1 and Level 2, or
transfers into or out of Level 3. The Company’s policy is to
recognise transfers between levels of fair value hierarchy
at the end of the reporting period in which they occur.
(ii) Fair values of financial assets and liabilities carried at
other than fair value
The carrying amounts of the Company’s financial
instruments carried at cost or amortised cost are not
materially different from their fair values as at 31 March
2014 and 2015 except f or the he l d- to-matur i t y
investments, for which their fair values at 31 March 2015
totalled HK$721,203,304 (2014: HK$686,589,311),
compared to their carrying amount of HK$718,192,926
(2014: HK$687,057,369). The fair values are measured
using market quoted prices and therefore fall within the
Level 1 fair value hierarchy.
3 財務風險管理及金融工具之公允
價值（續）
(b) 公允價值計量
(i) 按公允價值列賬之金融資產及負債
本公司所持按公允價值計入損益之證券投
資採用市場報價計量，故屬於《香港財務
報告準則》第13 號所界定之第一級公允價
值等級。
公允價值等級
劃分公允價值計量之等級乃經參考以下估
值方法所用輸入數據之可觀察性及重要性
而釐定：
— 第一級估值：僅使用第一級輸入數
據（即相同資產或負債於計量當日在
活躍市場之未經調整報價）計量之公
允價值。
— 第二級估值：使用第二級輸入數據
（即不屬於第一級之可觀察輸入數
據，但亦不屬於重大不可觀察輸入
數據）計量之公允價值。不可觀察輸
入數據是指缺乏市場數據之輸入數
據。
— 第三級估值：使用重大不可觀察輸
入數據計量之公允價值。
於截至 2014年及 2015 年3 月 31 日止年度
內，第一級與第二級之間並無任何轉移，
亦無轉入或轉出自第三級。本公司之政策
是於報告期末確認公允價值等級之間所發
生之轉移。
(ii) 並非以公允價值列賬之金融資產及負債之
公允價值
本公司按成本或攤銷成本列賬的金融工具
之賬面值與其於2014 年及 2015年 3 月 31
日之公允價值並無重大差異，其於 2015
年 3 月 31 日 之 公 允 價 值 合 共 為
721,203,304港元（ 2014年： 686,589,311
港元），而賬面值則為 718,192,926港元
（2014年：687,057,369 港元），惟持有至
到期日投資除外。該等公允價值採用市場
報價計量，故屬於第一級公允價值等級。