2021-07-30-港交所-ＦＧＸ原油_年报_49页_2mb

报告摘要

Global X S&P Crude Oil Futures Enhanced ER ETF Summary (Year Ended 31 March 2021)

Core Content Overview

This document provides the audited financial statements for the Global X S&P Crude Oil Futures Enhanced ER ETF (a sub-fund of Global X ETF Series II) for the year ended 31 March 2021. It includes the statement of net assets, statement of profit or loss and other comprehensive income, statement of changes in net assets attributable to unitholders, and statement of cash flows, along with detailed notes to the financial statements.

Key Sections and Information

1. Report of the Trustee

The Trustee confirms that the Manager has managed the Sub-Fund in all material respects in accordance with the Trust Deed.
The financial statements are prepared in compliance with IFRSs and reflect a true and fair view of the Sub-Fund’s financial position and performance.
The auditor has determined there are no key audit matters to disclose.

2. Independent Auditor's Report

The auditor has audited the financial statements in accordance with ISAs.
The opinion is that the financial statements present a true and fair view of the Sub-Fund’s financial position and performance.
The audit process includes:
- Assessing risks of material misstatement.
- Evaluating accounting policies and estimates.
- Confirming the use of the going concern basis of accounting.
- Ensuring fair presentation of the financial statements.
The audit partner is Mr. Au Chi Pang, Ivan.
The auditor has no material concerns regarding the other information included in the Annual Report.

3. Statement of Net Assets

As of 31 March 2021, the Sub-Fund had HK$105,427,085 in total assets.
Total liabilities amounted to HK$7,203,715, resulting in equity of HK$98,223,370.
Net asset value per unit was HK$3.1685 as of 31 March 2021, compared to HK$1.5910 as of 31 March 2020.
Number of units in issue remained at 31,000,000 for both years.

4. Statement of Profit or Loss and Other Comprehensive Income

Operating profit for the year ended 31 March 2021 was HK$86,021,036, compared to a loss of HK$34,012,638 in the prior year.
Net gain on financial assets and liabilities at FVPL was HK$87,046,881 in 2021, compared to a loss of HK$33,730,504 in 2020.
Other comprehensive income included a net exchange gain of HK$18,484 in 2021 and a loss of HK$194,579 in 2020.
Expenses totaled HK$1,333,552 in 2021, primarily due to management, trustee, and administration fees.

5. Statement of Changes in Net Assets Attributable to Unitholders

Net assets at the beginning of the year were HK$49,321,209.
Issue of units during the year was HK$105,066,450, and redemption of units was HK$142,185,325.
Net change in net assets was HK$-37,118,875.
Net assets at the end of the year were HK$98,223,370.
Units in issue remained at 31,000,000.

6. Statement of Cash Flows

Net cash flows from operating activities were HK$91,770,485 in 2021, compared to HK$-42,119,208 in 2020.
Net cash flows from financing activities were HK$-25,131,995 in 2021, and HK$37,654,770 in 2020.
Net increase in cash and cash equivalents was HK$66,638,490 in 2021, leading to a total of HK$85,795,831 at year-end.

7. Notes to the Financial Statements

The Sub-Fund is a sub-fund of an umbrella unit trust governed by Hong Kong law.
It is authorised by the SFC and listed on the HKSE.
The investment objective is to replicate the performance of the S&P GSCI Crude Oil Enhanced Index Excess Return.
Accounting policies are based on IFRSs, and the financial statements are prepared using the historical cost convention except for assets and liabilities at fair value through profit or loss (FVPL).
The new definition of material under IAS 1 and IAS 8 (effective from 1 January 2020) was adopted with no significant impact on the financial statements.
Financial instruments are classified into:
- Amortised cost: for debt instruments where the objective is to collect contractual cash flows and the cash flows are solely payments of principal and interest.
- FVPL: for financial assets/liabilities not meeting the above criteria or held for trading.
Taxes are accounted for based on reasonable estimates, with provisions for possible tax audits.

Main Points and Key Information

The Sub-Fund is actively managed and tracks the S&P GSCI Crude Oil Enhanced Index Excess Return.
Audited financial statements are in compliance with IFRSs and HK law.
Net asset value per unit increased significantly from HK$1.5910 in 2020 to HK$3.1685 in 2021.
Operating profit was HK$86,021,036 in 2021, reflecting strong performance.
Cash and cash equivalents rose from HK$19,157,341 to HK$85,795,831.
The Manager is responsible for the preparation of financial statements and internal controls.
The Trustee is responsible for oversight and compliance with the Trust Deed and UT Code.
Auditor's opinion is unqualified, with no key audit matters to disclose.
Taxes are subject to uncertainties, and the Sub-Fund has established provisions for potential tax liabilities.