方兴地产 2009 中期报告(18)

Selling and marketing expenses of the Group for the six months ended 30 June 2009 amounted to HK$87.2 million, representing an increase of 7% from HK$81.6 million in the same period of 2008, which was mainly attributable to the increased marketing expenses of newly operated hotels for market expansion.

Administrative expenses

Administrative expenses of the Group for the six months ended 30 June 2009 amounted to HK$241.9 million, representing a decrease of 11% from HK$271.0 million in the same period of 2008. The decrease was mainly attributable to the fact that the Group incurred acquisition fees arising from the acquisition of Jin Mao Group in last year, whereas there were no such fees during the period.

Finance cost

Finance cost of the Group for the six months ended 30 June 2009 was HK$216.6 million, which was comparable to that of HK$214.4 million in the same period of 2008.

Finance cost of the Group was either capitalized or charged as an expense. As a significant portion of the borrowings of the Group were intra-group entrustment loans, the finance cost so charged by the Group also included some interest expenses arising from internal entrustment loans of the Group. If such interest expenses are excluded, the interest expenses on interest-bearing bank and other borrowings would be HK$207.0 million, representing a decrease of 3% as compared with that of HK$214.4 million for the same period of last year.

截至6月30日止六個月

For the six months ended 30 June

2009年

（未經審核）2008年（重列）

（未經審核）（港幣百萬元）（港幣百萬元）

變動百分比

2009

(unaudited)2008(Restated)

(Unaudited)Percentage

change

(Hk$ million)(HK$ million)

須於五年內全數償還的

銀行貸款及其他借款利息Interests on bank loans and other borrowings wholly repayable within five years 283.1296.8(5)%其他貸款利息Interests on other borrowings

16.422.4(27)%利息總額

Total interests

299.5319.2(6)%減：資本化利息Less: Interests capitalised (82.9)

(104.8)(21)%小計

Sub-total

216.6 214.4

1%減：本集團內部委託　　　貸款利息

Less: I nterests on internal entrustment

loans of the Group

9.6

–

N/A

扣除本集團內部委託

貸款後的計息銀行貸款及其他借款利息

Interests on interest-bearing bank

and other borrowings net of internal entrustment loans of the Group

207.0 214.4(3)%

四、財務回顧（續）

銷售和營銷開支

截至2009年6月30日止六個月，本集團的銷售和營銷開支為港幣87.2百萬元，較2008年同期的港幣81.6百萬元增長7%，主要由於新開業的酒店為開拓市場新增營銷費用所致。

管理費用

截至2009年6月30日止六個月，本集團的管理費用為港幣241.9百萬元，較2008年同期的港幣271.0百萬元下降11%，主要由於本集團在上年收購金茂集團過程產生了相關的收購費用，而本期並未有此類費用。

融資成本

截至2009年6月30日止六個月，本集團的融資成本為港幣216.6百萬元，與2008年同期的港幣214.4百萬元基本持平。

本集團融資成本中，一部份予以資本化，而另一部份予以費用化。由於在本集團借貸中有相當一部份為本集團內部的委託貸款，從而造成本集團在費用化的融資成本中也包括了一部份由本集團內部委託貸款所產生的利息支出。若扣除該部份利息支出，則本集團的計息銀行貸款及其他借款的利息支出為港幣207.0百萬元，較上年同期之港幣214.4百萬元下降3%。