Page 173 - Hong Kong Housing Society 香港房屋協會 - Annual Report 2019 年報

171

5. Financial risk management objectives and 5. 財務風險管理目標及政策（續）

policies (continued)
(d) Financial assets and liabilities measured at fair (d) 財務資產及負債按公允價值
value (continued) 計量 （續）
valuation techniques and inputs used in level 1 and 2 第一級及第二級公允價值計量
fair value measurements (continued) 所使用之估值方法及數據 （續）
Financial instruments that trade in markets that are not 凡在不視為活躍市場內買賣但
considered to be active but are valued based on quoted 按市場報價、交易商報價或利
market prices, dealer quotations or alternative pricing sources 用可觀察數據的其他定價來源
supported by observable inputs are classified within Level 2. 的財務工具都劃歸為第二級。
These include investment-grade corporate bonds, sovereign 該等工具包括投資級別的企業
obligations and certain unit trusts. As Level 2 investments 債券、主權債務及某些單位信
include positions that are not traded in active markets and/or 託基金。由於第二級投資包括
are subject to transfer restrictions, valuations may be adjusted 並非於活躍市場買賣及╱或須
to reflect illiquidity and/or non-transferability, which are 受轉讓限制的倉盤，估值可能
generally based on available market information. 予以調整以反映非流動性及╱或
不可轉讓性，其一般乃以可得
市場資料為依據。

The Level 3 includes financial instruments which values are 第三級包括按不可觀察數據估
based on unobservable inputs. These are mostly unit trusts. 值之財務工具，主要為單位信
Their net asset values are provided by respective administrators 託。該等資產淨值由各自之管
of the unit trust. 理人所提供。

Movement of Level 3 fair value measurements of financial 第三級財務資產公允價值計量
assets is as follows: 的變動如下：

(in HK$Million) （港幣百萬元） 2019 2018

At 1 April 四月一日 1,724.4 1,368.9
Gain recognised in the comprehensive income 於全面收益內確認的溢利 61.1 96.6

Purchase 購買 31.4 258.9

At 31 March 三月三十一日 1,816.9 1,724.4

The fair value of the above investments is positively correlated 以上投資的公允價值與相關投
to the net asset value of the underlying investment funds. Due 資基金的資產淨值存在正值關
to the inherent uncertainty of the estimates, the fair value of 係。由於估計潛在不穩定因素，
Level 3 financial assets may differ from the values that would 第三級財務資產可能跟市場上
have been used had a ready market for these investments 的同類投資有重大偏差。
existed and the difference could be material.

香港房屋協會 2018/19 年度年報