账目附注 Notes to the Financial Statements
The Balance Sheet and Notes to the Financial Statements
3-11
This term includes legal commitments as well as moral, social, and implied obligations.
3-12
Most liabilities involve an obligation to transfer assets in the future. However, an obligation to provide a service is also a liability.
3-18
3-19
Current Assets
The normal operating cycle involves the use of cash to purchase inventories, the sale of inventories resulting in receivables, and ultimately the cash collection of those receivables.
3-22
Noncurrent Assets
• Investments • Property, plant, and equipment • Intangible assets • Deferred income taxes
3-23
Investments
Investments held for such longterm purposes as regular income, appreciation, or ownership control are reported under the heading Investments.
Stice | Stice | Skousen
Notes to the Financial Statements财务报表附注
1.GeneralHyComm Wireless Limited (“the Company”) was incorporated in Bermuda on 30 July 1997 as an exempted company with limited liability under the Companies Act 1981 of Bermuda (as amended). The shares of the Company are listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).The Company is an investment holding company. The activities of its principal subsidiaries are set out in note 36.2.Basis of Preparation of Financial StatementsIn preparing the financial statements, the directors have given careful consideration to the future liquidity of the Group. The Group incurred a loss of approximately HK$80 million for the year ended 31 March 2004 and had net current liabilities of approximately HK$27 million at that date.The directors consider that the Group will be able to meet in full its financial obligations as they fall due for the foreseeable future because the Group is currently in the process of disposing certain properties and arranging additional banking facilities in order to provide additional working capital for the Group.Accordingly, the financial statements have been prepared on a going concern basis.1.362.80,000,00027,000,0003.Adoption of Revised Statement of StandardAccounting PracticeIn the current year, the Group has adopted the following revised Statement of Standard Accounting Practice (“SSAP”) issued by the Hong Kong Society of Accountants:SSAP 2.112 (Revised)Income TaxesIn accordance with the SSAP 2.112 (Revised), deferred tax liabilities are provided in full, using the liability method, on all temporary differences between the carrying amount of assets and liabilities in the balance sheet and their tax bases used in the computation of taxable profits, while deferred tax assets are recognized to the extent that it is probable that the future taxable profits will be available against which the deductible temporary differences and unused tax losses can be utilized.The adoption of the revised SSAP 2.112 represents a change in accounting policy, which has been applied retrospectively, and the comparative figures have been restated accordingly. In adjusting prior year figures, the opening accumulated losses as at 1 April 2003 have been increased by HK$588,000 (2002: HK$160,000) which represents the unprovided net deferred tax liabilities of the Group in prior years. In addition, this change in accounting policy has resulted in an increase of HK$560,000 (2003: HK$428,000) in the Group’s net loss for the year.3.:2.1122.1122.112588,000160,000560,000428,0004.Significant Accounting PoliciesThe financial statements have been prepared under the historical cost convention as modified for the revaluation of investment properties, leasehold land and buildings and investments in securities. The financial statements have been prepared in accordance with accounting principles generally accepted in Hong Kong. The significant accounting policies adopted by the Group are set out below:(a)Basis of consolidationThe consolidated financial statements of the Group includethe financial statements of the Company and its subsidiariesmade up to 31 March each year.A subsidiary is a company whose financial and operatingpolicies are under the Company’s control, directly orindirectly, so as to obtain benefits from its activities.The results of subsidiaries acquired or disposed of duringthe year are consolidated from the effective dates ofacquisition or up to their effective dates of disposal.All significant inter-company transactions and balanceshave been eliminated on consolidation.In the Company’s financial statements, investments insubsidiaries are carried at cost less any accumulatedimpairment losses. The results of the subsidiaries areincluded in the income statement to the extent of dividendsreceived and receivable.4.(a)4.Significant Accounting Policies (Continued)(b)AssociatesAn associate is a company, not being a subsidiary nor ajoint venture, in which an equity interest is held, or thelong-term and significant influence is exercised in itsmanagement.The consolidated income statement includes the Group’sshare of the current year’s results of the associates, and theconsolidated balance sheet includes the Group’s share ofthe net assets or liabilities of the associates and goodwill/negative goodwill (net of accumulated amortisation andaccumulated impairment losses) arising on acquisition.In the Company’s balance sheet, the investments inassociates are stated at cost less provision for impairmentlosses. The results of associates are accounted for by theCompany on the basis of dividends received andreceivable.(c)Revenue recognitionSales of goods are recognised when goods are deliveredand title has passed.Rental income, including rentals invoiced in advance fromproperties let under operating leases, is recognised on astraight line basis over the term of the relevant lease.Interest income is accrued on a time basis by reference tothe principal outstanding and at the interest rate applicable.Property management and other fees are recognised whenservices are rendered.Service fee income is recognised as revenue when the inter-operator short message services are rendered.4.(b)(c)4.Significant Accounting Policies (Continued)(d)Investment propertiesInvestment properties are completed properties which areheld for their investment potential, any rental income beingnegotiated at arm’s length.Investment properties are stated at their open market valuebased on independent professional valuations at thebalance sheet date. Any surplus or deficit arising onrevaluation of investment properties is credited or chargedto the investment property revaluation reserve unless thebalance of the reserve is insufficient to cover a deficit, inwhich case the excess of the deficit over the balance ofthe investment property revaluation reserve is charged tothe income statement. Where a deficit has previously beencharged to the income statement and a revaluation surplussubsequently arises, this surplus is credited to the incomestatement to the extent of the deficit previously charged.On subsequent disposal of an investment property, thebalance on the investment property revaluation reserveattributable to that property is included in the determinationof the profit and loss on disposal.No depreciation and amortisation is provided in respectof investment properties which are held under leases withunexpired terms, including the renewable period, of morethan twenty years.4.(d)4.Significant Accounting Policies (Continued)(e)Property, plant and equipmentProperty, plant and equipment, other than leasehold landand buildings, are stated at cost less depreciation,amortisation and accumulated impairment losses.The gain or loss arising from the disposal or retirement ofan asset is determined as the difference between the saleproceeds and the carrying amount of the asset and isrecognised in the income statement.Leasehold land and buildings are stated in the balancesheet at their revalued amount, being the fair value on thebasis of their existing use at the date of revaluation lessany subsequent accumulated depreciation andamortisation. Revaluations are performed with sufficientregularity such that the carrying amount does not differmaterially from that which would be determined using fairvalues at the balance sheet date.Any surplus arising on revaluation of leasehold land andbuildings is credited to the revaluation reserve, except tothe extent that it reverses a revaluation deficit of the sameasset previously recognised as an expense, in which casethis surplus is credited to the income statement to the extentof the deficit previously charged. A decrease in net carryingamount arising on revaluation of an asset is charged to theincome statement to the extent that it exceeds the balance,if any, on the revaluation reserve relating to a previousrevaluation of that asset. On the subsequent sale orretirement of a revalued asset, the attributable revaluationsurplus is transferred to retained profits.4.(e)4.Significant Accounting Policies (Continued)(e)Property, plant and equipment (Continued)Depreciation and amortisation is provided to write off thecost or valuation of property, plant and equipment overtheir estimated useful lives, using the straight line method,at the following rates per annum:Leasehold land Over the lease termsBuildings2%Furniture, fixtures and equipment20-30%Motor vehicles20-30%(f)Properties under developmentLand and buildings in the course of development for sale,rental or administrative purposes or for purposes not yetdetermined are carried at cost less any provision forimpairment loss considered necessary by the directors. Costincludes land cost, development cost, borrowing costscapitalized and other direct costs attributable to suchproperties. Depreciation and amortisation of these assets,on the same basis as other property assets, commenceswhen the assets are ready for their intended use.Properties under development which are due forcompletion more than one year from the balance sheetdate are shown as non-current assets.Properties under development which are due forcompletion within one year from the balance sheet dateand are intended to be held for long term for theirinvestment potential are shown as non-current assets.4.(e)2%20-30%20-30%(f)4.Significant Accounting Policies (Continued)(f)Properties under development (Continued)Properties under development which are due forcompletion within one year from the balance sheet dateand are intended to be held for sale will be treated asproperties under development for sale and are shown ascurrent assets.(g)Cash and cash equivalentsCash and cash equivalents comprise cash at bank and onhand, demand deposits with banks and other financialinstitutions, and short-term, highly liquid investments thatare readily convertible into known amounts of cash andwhich are subject to an insignificant risk of changes invalue, having been within three months of maturity atacquisition. Bank overdrafts that are repayable on demandand form an integral part of the group’s cash managementare also included as a component of cash and cashequivalents for the purpose of the cash flow statement.(h)Capitalisation of borrowing costsBorrowing costs directly attributable to the acquisition,construction or production of qualifying assets, which areassets that necessarily take a substantial period of time toget ready for their intended use or sale, are capitalized aspart of the costs of those assets. Capitalisation of suchborrowing costs ceases when the assets are substantiallyready for their intended use or sale. Investment incomeearned on the temporary investment of specific borrowingspending their expenditure on qualifying assets is deductedfrom the borrowing costs capitalized.All other borrowing costs are recognised as an expense inthe period in which they are incurred.4.(f)(g)(h)4.Significant Accounting Policies (Continued)(i)Investments in securitiesInvestments in securities are recognised on a trade-datebasis and are initially measured at cost.Investments other than held-to-maturity debt securities areclassified as investment securities and other investments.Investment securities, which are securities held for anidentified long-term strategic purpose, are measured atsubsequent reporting dates at cost, as reduced by anyimpairment loss that is other than temporary.Other investments are measured at fair value, withunrealised gains and losses included in net profit or lossfor the period.(j)GoodwillGoodwill arising on consolidation represents the excessof the cost of acquisition over the Group’s interest in thefair value of the identifiable assets and liabilities of asubsidiary, associate or jointly controlled entity at the dateof acquisition.Goodwill arising on acquisitions prior to 1 April 2001continues to be held in reserves, and will be charged tothe income statement at the time of disposal of the relevantsubsidiary, associate or jointly controlled entity, or at suchtime as the goodwill is determined to be impaired.4.(i)(j)4.Significant Accounting Policies (Continued)(j)Goodwill (Continued)Goodwill arising on acquisitions after 1 April 2001 iscapitalised and amortised on a straight line basis over itsuseful economic life. Goodwill arising on the acquisitionof an associate or a jointly controlled entity is includedwithin the carrying amount of the associate or jointlycontrolled entity. Goodwill arising on the acquisition ofsubsidiaries is presented separately in the balance sheet.On disposal of a subsidiary, an associate or jointlycontrolled entity, the attributable amount of unamortisedgoodwill/goodwill previously eliminated against reservesis included in the determination of the profit or loss ondisposal.(k)Negative goodwillNegative goodwill represents the excess of the Group’sinterest in the fair value of the identifiable assets andliabilities of a subsidiary, associate or jointly controlledentity at the date of acquisition over the cost of acquisition.Negative goodwill arising on acquisitions prior to 1 April2001 continues to be held in reserves and will be creditedto income at the time of disposal of the relevant subsidiary,associate or jointly controlled entity.Negative goodwill arising on acquisitions after 1 April 2001is presented as a deduction from assets and will be releasedto income based on an analysis of the circumstances fromwhich the balance resulted.4.(j)(k)4.Significant Accounting Policies (Continued)(k)Negative goodwill (Continued)To the extent that the negative goodwill is attributable tolosses or expenses anticipated at the date of acquisition, itis released to income in the period in which those lossesor expenses arise. The remaining negative goodwill isrecognised as income on a straight line basis over theremaining average useful life of the identifiable acquireddepreciable assets. To the extent that such negativegoodwill exceeds the aggregate fair value of the acquiredidentifiable non-monetary assets, it is recognised in incomeimmediately.Negative goodwill arising on acquisitions of an associateor a jointly controlled entity is deducted from the carryingvalue of that associate or jointly controlled entity. Negativegoodwill arising on the acquisition of subsidiaries ispresented separately in the balance sheet as a deductionfrom assets.(l)InventoriesInventories represent trading merchandise and are statedat the lower of cost and net realisable value. Cost iscalculated using the first-in, first-out method. Net realisablevalue represents the estimated selling price in the ordinarycourse of business less the estimated costs necessary tomake the sale.4.(k)(l)4.Significant Accounting Policies (Continued)(m)ImpairmentAt each balance sheet date, the Group reviews the carryingamounts of its tangible and intangible assets to determinewhether there is any indication that these assets havesuffered an impairment loss. If the recoverable amount ofan asset is estimated to be less than its carrying amount,the carrying amount of the asset is reduced to itsrecoverable amount. Impairment losses are recognised asan expense immediately, unless the relevant asset is carriedat a revalued amount under another SSAP, in which casethe impairment loss is treated as revaluation decrease underthat SSAP.Where an impairment loss subsequently reverses, thecarrying amount of the asset is increased to the revisedestimate of its recoverable amount, but so that the increasedcarrying amount does not exceed the carrying amount thatwould have been determined had no impairment loss beenrecognised for the asset in prior years. A reversal of animpairment loss is recognised as income immediately,unless the relevant asset is carried at a revalued amountunder another SSAP, in which case the reversal of theimpairment loss is treated as a revaluation increase.(n)TaxationThe charge for taxation is based on the results for the yearafter adjusting for items which are non-assessable ordisallowed. Certain items of income and expense arerecognised for tax purposes in a different accounting periodfrom that in which they are recognised in the financialstatements. The tax effect of the resulting timing differences,computed under the liability method, is recognised asdeferred taxation in the financial statements to the extentthat it is probable that a liability or asset will crystallise inthe foreseeable future.4.(m)(n)4.Significant Accounting Policies (Continued)(o)Foreign currenciesTransactions in currencies other than Hong Kong dollarsare translated into Hong Kong dollars at the rates rulingon the dates of the transactions. Monetary assets andliabilities denominated in currencies other than Hong Kongdollars are translated into Hong Kong dollars at the ratesruling on the balance sheet date. Gains and losses arisingon exchange are dealt with in the income statement.(p)Operating leasesLeases where substantially all the rewards and risks ofownership of assets remain with the lessor are accountedfor as operating leases. Where the Group is the lessor, assetsleased by the Group under operating leases are includedin non-current assets and rental receivable under theoperating leases are credited to the income statement onthe straight line basis over the lease terms. Where the Groupis the lessee, rentals payable under the operating leasesare charged to the income statement on the straight linebasis over the lease terms.4.(o)(p)17.Investments in Securities (Continued)The trading of the shares in Codebank Limited (“Codebank”), a company with its shares listed on the Growth Enterprise Market (“GEM”) of the Stock Exchange on 21 December 2001, have been suspended since 14 May 2002. On 28 May 2002, the previous directors of Codebank informed its shareholders that certain recent events took place in Codebank were being investigated by them and since then trading of the shares remains suspended. Accordingly, the directors of the Company determined that the investments in Codebank were fully impaired as at 31 March 2002.The amount stated in the investments in securities represents the carrying value of the Group’s investment in Inno-Tech Holdings Limited (“Inno-Tech”). The shares of Inno-Tech was listed on GEM on 12 August 2002 and it is the Group’s plan to hold this investment on a long term basis.17.24.Share OptionsThe Company’s share option scheme (the “old scheme”) was adopted on 15 September 1997 for the primary purpose of providing incentives to the employees of the Group. Pursuant to a resolution passed at a special general meeting of the shareholders held on 15 July 2002, the Company terminated the old scheme and adopted the new share option scheme.There were no outstanding options granted under the old and the new schemes at the beginning and at the end of the year. In addition, there were no options granted to, or exercised by, any eligible employees during the year.24.25.Share Premium and Reserves (Continued)Under the Companies Act 1981 of Bermuda (as amended), contributed surplus is also available for distribution to shareholders. However, a company cannot declare or pay a dividend, or make a distribution out of contributed surplus, if:(a)the company is, or would after the payment be, unable topay its liabilities as they become due; or(b)the realisable value of the company’s assets would therebybe less than the aggregate of its liabilities and its issuedshare capital and share premium accounts.In the opinion of the directors, as at 31 March 2003 and 31 March 2004, the Company did not have any reserve available for distribution to shareholders.25.(a)(b)30.Retirement Benefit SchemeWith effect from 1 December 2000, the Group joined a Mandatory Provident Fund Scheme (“MPF Scheme”) for all employees in Hong Kong. The MPF Scheme is registered with the Mandatory Provident Fund Scheme Authority under the Mandatory Provident Fund Schemes Ordinance. The assets of the MPF Scheme are held separately from those of the Group in funds under the control of independent trustees.Under the rules of the MPF Scheme, the employer and its employees are each required to make contributions to the scheme at rates specified in the rules. The only obligation of the Group with respect of MPF scheme is to make the required contributions under the scheme. No forfeited contribution is available to reduce the contribution payable in the future years.The retirement benefit scheme contribution arising from the MPF Scheme charged to the consolidated income statement represent contributions payable to the funds by the Group at rates specified in the rules of the MPF Scheme.During the year, the retirement benefit schemes contribution, net of forfeited contributions utilised of approximately HK$Nil (2003: HK$Nil), amounted to approximately HK$586,450 (2003: HK$124,450).At the balance sheet date, the Group had no significant 30.586,450124,450At 31 March 2004, the Company had outstanding unlimited guarantees and a corporate guarantee given in favour of banks amounting to approximately HK$120,000, 000 (2003: HK$126,000,000) to secure general banking facilities granted to a subsidiary. The total amount of facilities utilised by the subsidiary as at 31 March 2004 amounted to approximately HK$113,881,000 (2003: HK$107,750,000).33.Pledge of AssetsTHE GROUP(a)At 31 March 2004, the Group’s borrowings were secured by the following:(i)first legal charges over the investment properties ofHK$126,500,000 (2003: HK$111,700,000);(ii)the interest in share capital of a subsidiary;(iii)assignment of rental income generated from certain investment properties;(iv)floating charges on all the existing and future assets undertakings of a subsidiary;(v)assignments of the right, title, interest and benefits in and under all the existing and future building contracts in respect of properties under development;(vi)the benefit under all insurance policies of properties under development;(vii)assignment of sales proceeds from sales of investment properties; and(viii)subordination of shareholders’ loans of a subsidiary 33.(a)(i)126,500,000111,700,000(ii)(iii)(iv)(v)(vi)(vii)(viii)(b)11,000,00014,397,0008,000,00010,000,000。
2008年度英文附注新准则09.4.3
PPD Pharmaceutical Development (Beijing) Co., Ltd.Notes to the Financial StatementsFor the year ended December 31, 2008(Expressed in Renminbi Yuan, except as indicated）1. General Information1.1 Company BackgroundPPD Pharmaceutical Development (Beijing) Co., Ltd. (hereinafter referred to as “the Company”) was established in Beijing city on 23 April, 2007 by PPD Development (S) Pte Ltd. as a wholly foreign-owned enterprise after approved by Beijing authority (No. Shang Wai Zi Jing Du Zi [2007]0001). The company obtained business license (No.110000450007377) issued by the Administration Bureau for Industry and Commerce in Beijing, and the registered capital is is USD$ 175,000. The legal representative is Mr. K C Lau. The place of registration is Beijing.The parent company is PPD Development (S) Pte Ltd.1.2 Operating IndustryThe Company is in the industry of consulting.1.3 Scope of BusinessThe Company is mainly engaged in consulting in the pharmaceutical industry. (Excluding diagnosis and treat activities)1.4 Major Service RenderedThe Company may provide the services of managing clinical research programs as requested by the parent company.2. Basis of PresentationThe Company adopts the Accounting Standards for Business Enterprises 2006 issued by the Ministry of Finance for annual periods beginning on or after January 1, 2008. The financial statements for the year ended December 31, 2007 were formerly prepared in conformity with the Accounting Regulations for Business Enterprises and Accounting Standards for Business Enterprises and relative supplementary rules. According to the requirements of two documentations issued by China Securities Regulatory Commission, which are “Notice of Disclosure of Relevant financial information under the New CAS” (Zheng Jian Fa [2006] No.136) and “No. 7 Guideline on Contentsand Format for Information Disclosure of Companies that Make Public Offering of Securities ----Compilation and Disclosure of Comparative Financial Accounting Information during the Transitional Period of Old and New Accounting Standards” (Kuai Ji Zi [2007] No.10), the Company determined the opening balances as at January 1, 2008 and critically analyzed the key impacts on the profit statement of the comparative period and the balance sheet as of the beginning of comparative period based on the understanding of “Accounting Standards for Enterprises No.38 – Initial Implementation of Accounting Standards for Enterprises: article 5 – article 19”, therefore in accordance with the principle of retrospective application, the financial statements for the year 2007 were prepared on the basis of the adjusted profit statement and balance sheet of comparative period .Based on the estimation of the Company’s capability of sustainable operation, the management believes that there are no events or circumstances may cause substantive doubt about the Company’s sustainable operation, and the financial statements are prepared on a basis of going concern assumption.3. Statement of ComplianceThe financial statements are in conformity with the requirements of Accounting Standards for Business Enterprises and present fairly, in all material respects, the financial position of the Company as of December 31, 2008, and the results of its operations and its cash flows for the year then ended.4. Summary of Significant Accounting Policies, Accounting Estimatesand Principles of Consolidation1) Fiscal YearThe fiscal year of the Company is coincided with the calendar year, i.e. from January 1 to December 31.2) Functional CurrencyThe financial statements of the Company are stated in Renminbi (“RMB”), which is also the Company’s functional currency.3) Accounting measurement bases and items in financialstatements with changes in measurement bases in financialreporting periodThe Company generally adopts historical cost as the measurement basis for accounting elements. If the accounting elements are measured at replacement cost, net realizable value, present value or fair value, the Company shall ensure such amounts can be obtained and reliably measured.(1) Accounting measurement bases adopted in the current financial reporting periodUnder the historical cost basis, assets are recorded at the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire them at the time of their acquisition. Liabilities are recorded at the amount of proceeds or assets received in exchange for the present obligation, or the amount payable under contract for assuming the present obligation, or at the amount of cash or cash equivalents expected to be paid to satisfy the liability in the normal course of business.(2) Items in financial statements with changes in measurement bases in financial reporting periodAccounting measurement bases did not change in financial reporting period.4) Cash EquivalentsIn preparing the cash flow statement, cash equivalents refers to short-term (usually with maturity of three months or less) and highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of change in value. Equity investments are not considered to be cash equivalents.5) Accounting Treatment for Foreign Currency TransactionsAt the time of initial recognition of a foreign currency transaction, the amount in the foreign currency is translated into the amount in RMB at the spot exchange rate of the transaction date.At the balance sheet date, the foreign currency monetary items are translated at the spot exchange rate at the balance sheet date. Exchange differences arising on the settlement of monetary items or on translating monetary items at rates different from those at which they were translated on initial recognition during the period or in previous financial statements are recognized in profit or loss in the period in which they arise.Foreign currency non-monetary items that are measured at the historical cost are translated at the spot exchange rate on the transaction date, of which the amount of functional currency is not changed.Foreign currency non-monetary items that are measured at fair value are translated at the spot exchange rate at the date when fair value was determined. Exchange differences arising on the translation of non-monetary items carried at fair value are treated as changes in fair value, and suchexchange differences (including the effect of changes in foreign currency rates) are included in profit or loss for the period.6) Accounting Treatment for Financial Assets and FinancialLiabilities(1) Classification of Financial Assets and Financial LiabilitiesIn accordance with the intentions of financial assets acquired and financial liabilities assumed, designations based on documented risk management or investment strategies of the Company, features of financial assets/liabilities, the management classified financial assets/liabilities as follows, the financial assets/liabilities at fair value through profit or loss, including transactional financial assets/liabilities and the financial assets/liabilities designated by the Company as at fair value through profit or loss; held-to-maturity investments, loans and receivables, available-for-sale financial assets and other financial liabilities. Discretionary reclassification is not permitted once the aforementioned classification was determined.(2) Measurement of Financial Assets and Financial Liabilities Accounts ReceivableAccounts receivable resulting from the sale/delivery of goods or rendering of services to third parties are to be initially recognized and recorded at the amounts stipulated in the contract or agreement signed between the Company and the buyer.At receipt of payment or disposal, the differences between payment received or proceeds from the disposal and carrying amount are reported in current earnings.(3) Impairment of Financial AssetsThe Company assesses the carrying amount of financial assets, other than financial assets at fair value through profit or loss, at each balance sheet date to determine whether there is any objective evidence that a financial asset is impaired as a result of one or more events. Loss event refers to the event that occurred after the initial recognition of the asset and has an impact on the estimated future cash flows of the financial asset that can be reliably estimated. If any such evidence exists, the Company will make an impairment provision.Account ReceivableIf there is objective evidence that an impairment loss on receivables has been incurred, the amount of the loss is measured as the difference between theasset’s carrying amount and the present value of estimated future cash flows. At each balance sheet date, the Company assesses whether objective evidence of impairment exists individually for receivables that are individually significant. If any such evidence exists, the Company will recognize the impairment loss and make a bad debt provision based on the difference between the asset’s carrying amount and the present value of estimated future cash flows.For receivables that are not individually significant, if there is no evidence of impairment on an individual basis, a collective impairment review is undertaken whereby the assets are grouped together, on the basis of similar credit risk characteristics, in order to calculate a collective impairment loss. The bad debt provision will be made based on the collective impairment loss of each asset group, which is determined by the proportion of the collective carrying amount of the group to the carrying amount of total receivables as of the balance sheet date. Such proportion is a reflection of actual impairment loss of each group, which is the difference between the collective carrying amounts and the collective present values of estimated future cash flows.7) Measurement and Depreciation Method of Fixed Assets(1) Recognition of Fixed assetsFixed assets are tangible items that are held for use in the production or supply of goods or services, for rental to others, or for administrative purposes and are expected to be used during more than one period. The cost of an item of fixed asset is recognized as an asset if, and only if:(a) it is probable that future economic benefits associated with the item willflow to the entity; and(b) the cost of the item can be measured reliably.(2)Classification of Fixed AssetsThe fixed assets are classified as follows: buildings, machineries, motor vehicles, office equipments and others.(3) Measurement of Fixed AssetsA fixed asset is initially measured at its cost.The Company recognizes in the carrying amount of a fixed asset the subsequent expenditures incurred if the probable future economic benefits associated with the fixed asset is greater than previous estimation. The new carrying amount of the fixed asset shall not exceed its recoverable amount.(4) The depreciation method of fixed assets: the Company begins to depreciate a fixed asset, one month after it is available for use, under straight-line method. The residual values (percentage), useful lives and annual rate of depreciation of different classifications of fixed assets are as follow:Classifications of Fixed Assets Useful Lives(in years)ResidualValue（%）Annual Rate ofDepreciation（%）Machineries50%20% Transportationequipment50%20% Medical equipment50%20% Medical reagent50%20%IT equipment30%33.33%After the recognition of an impairment loss, the depreciation charge for the fixed asset will be adjusted in future periods to allocate the asset’s revised carrying amount, less its residual value (if any), on a systematic basis over its remaining useful life;After a reversal of an impairment loss is recognized, the depreciation charge for the asset will be adjusted in future periods to allocate the asset’s revised carrying amount, less its residual value (if any), on a systematic basis over its remaining useful life.If the carrying amount of a fixed asset is reduced to zero after an impairment loss is recognized, no depreciation amount is recognized for it in future periods.8) Revenue RecognitionRendering of servicesRevenue associated with the transaction should be recognised when: (a) Cost plus revenue: The service has been rendered and revenue is recognised based on the amount of costs and expenses occurred and fixed cost plus ratio.(b) Pass through revenue: The service has been rendered and revenue is recognised equalling to the amount of prepaid costs and expenses.9) Accounting Treatment for Income TaxThe income tax is accounted for using balance sheet liability method.(1) Recognition of Deferred Tax Assets(a) A deferred tax asset will be recognized for all deductible temporary differences to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilized, unless the deferred tax asset arises from the initial recognition of an asset or liability in a transaction that:(i) is not a business combination; and(ii) at the time of the transaction, affects neither accounting profit nor taxable profit (tax loss).(b) The Company will recognize a deferred tax asset for all deductible temporary differences arising from investments in subsidiaries, branches and associates, and interests in joint ventures, to the extent that, and only to the extent that, it is probable that:(i) the temporary difference will reverse in the foreseeable future; and(ii) taxable profit will be available against which the temporary difference can be utilized.(c) A deferred tax asset will be recognized for the carry forward of unused tax losses and unused tax credits to the extent that it is probable that future taxable profit will be available against which the unused tax losses and unused tax credits can be utilized.(2) Recognition of Deferred Tax LiabilitiesA deferred tax liability will be recognized for all taxable temporary differences, except to the extent that the deferred tax liability arises from:(a) the initial recognition of goodwill; or(b) the initial recognition of an asset or liability in a transaction which:(i) is not a business combination; and(ii) at the time of the transaction, affects neither accounting profit nor taxableprofit (tax loss).(c) all taxable temporary differences associated with investments in subsidiaries, branches and associates, and interests in joint ventures, except to the extent that both of the following conditions are satisfied:(i) the parent, investor or venture is able to control the timing of the reversalof the temporary difference; and(ii) it is probable that the temporary difference will not reverse in the foreseeable future.(3) Measurement of Tax ExpenseCurrent and deferred tax will be recognized as income or an expense and included in profit or loss for the period, except to the extent that the tax arises from:(a) a business combination; or(b) a transaction or event which is recognized, in the same or a differentperiod, directly in equity.5. Changes in accounting policiesThe Company adopts the Accounting Standards for Business Enterprises 2006 issued by the Ministry of Finance for annual periods beginning on or after January 1, 2008. This accounting policy is applied retrospectively, and it does not affect the opening balance of retained earnings, and we have reclassified the opening balance of some other items in the balance sheet.6. TaxationTax items and tax rates applicable to the Company are as follows:Tax Items Levied on Tax Rates Business Tax Taxable gross turnover5% Enterprise Income Tax Taxable income20% The Company is classified into small-scale and little-profit company which adopts income tax rate of 20%.7. Notes to the Major Line Items of Financial Statements1) Cash and Cash EquivalentsItems2008.12.312007.12.31OriginalCurrencyExchangeRateFunctionalCurrencyOriginalCurrencyExchangeRateFunctionalCurrencyCash inhandRMB6,219.60 1.00006,219.60717.27 1.0000717.27 Sub-total6,219.60717.27BankRMB264,964.40 1.0000264,964.40246,729.49 1.0000246,729.49 USDollar36,179.48 6.8230246,852.7586,557.917.3041632,229.51 Sub-total511,817.15878,959.00 Total518,036.75879,676.272) Accounts Receivable(1) The composition of accounts receivableItems2008.12.31AmountProportionof total(%)Bad debtsprovisionaspercentageofaccountsreceivableProvisionfor baddebtAmountProportionof total(%)PPDDevelopment(S) Pte Ltd.750,275.35100.00%--263,094.00100.00% Total750,275.35-263,094.00(2) Aging analysisAge2008.12.312007.12.31 Amount PercentageProvisionfor baddebtsNet value Amount PercentageProvisionfor baddebtsUnder1 year750,275.35100.00%-750,275.35263,094.00100.00% Total750,275.35-750,275.35263,094.00According to the Company’s accounting policy, bad debt provision will be recognized by case-by-case analysis method. All of the ending balance is within one year and need not accrue any provision.(3) As of December 31, 2008, the outstanding amount due from shareholders with ownership of more than 5 %( inc.5%) of voting shares of the company is as follows:Name Amount Time%ReasonPPD Development (S) Pte Ltd.750,275.35Oct toDec, 2008100.00%TransactionTotal750,275.35100.00%3) Other accounts receivable(1) The Composition of Other Accounts ReceivableItems2008.12.312007.12.31 AmountProportionof total (%)Bad debtsprovisionaspercentageof accountreceivableProvisionfor baddebtAmountProportionof total (%)percentageOtheraccountsreceivable50,000.00100.00%--120,906.93100.00% Total50,000.00--120,906.93(2) Aging AnalysisAge2008.12.312007.12.31 Amount PercentageProvisionfor baddebtsNet value Amount PercentageProvisionfor baddebtsUnder1 year50,000.00100.00%-50,000.00120,906.93100.00% Total50,000.00100.00%-50,000.00120,906.93100.00%According to the Company’s accounting policy, bad debt provision will be recognized by case-by-case analysis method. All of the ending balance is within one year and need not accrue any provision.(3) As of December 31, 2008, there are no balances with shareholder with shareholdings above 5% (Including 5%).4) PrepaymentsItems2008.12.312007.12.31Under 1 year75,283.3854,243.38 Total75,283.3854,243.385) Fixed assets and accumulated depreciation(1) Classification of fixed assetsItem2007.12.31Increased incurrent periodDecreaseincurrentperiod2008.12.311.Total costof fixedassets292,718.0047,162.08-339,880.08 Machineries10,800.00--10,800.00 Medicalequipment227,500.00--227,500.00 Medicalreagent54,418.00--54,418.00IT-47,162.08-47,162.08 equipment2. Totalaccumulated9,397.2864,806.34-74,203.62 depreciationMachineries-2,160.00-2,160.00Medical7,583.3445,500.04-53,083.38 equipmentMedical1,813.9410,883.64-12,697.58 reagentIT-6,262.66-6,262.66 equipment3.Provisionforimpairmentloss of fixedassetsMachineries----Medical----equipmentMedical----reagentIT----equipment4.Totalcarryingamounts offixed assets283,320.72--265,676.46Machineries10,800.00--8,640.00 Medicalequipment219,916.66--174,416.62 Medicalreagent52,604.06--41,720.42 ITequipment---40,899.426) Deferred income tax assets(1) The recognized deferred income tax assets and deferred income tax liabilitiesItems2008.12.312007.12.31 Deferred income tax assetsOffice dilapidation accruals –deferred tax assets19,714.00-Total19,714.00-The basis for recognition of deferred income tax assets is that the office dilapidation accruals could not be deducted before income tax.7) Payroll AccrualItems2007.12.31Increased incurrentperiod Paid incurrentperiod2008.12.311. Wages,bonuses,allowances andsubsidies101,533.271,538,843.051,550,433.6689,942.662. Welfareexpenses foremployees;8,165.858,165.853. Socialinsurances300,913.86296,607.364,306.50Include：(1)Medicalinsurance92,246.6690,896.661,350.00(2)Endowmentinsurance(3)Pension186,905.64184,205.642,700.00(4)Unemploymentinsurance13,992.4213,789.92202.50 (5)Work injuryinsurance3,697.403,643.4054.00 (6)Maternityinsurance4,071.744,071.744. Housing fund101,314.0099,694.001,620.00 Total101,533.271,949,236.761,954,900.8795,869.168) Taxes PayableTax Items2008.12.312007.12.31 Business Tax37,481.2330,499.85 Enterprise incomeTax23,768.816,793.54 Total61,250.0437,293.399) Other payables(1) Aging AnalysisAge2008.12.312007.12.31 Under 1 year77,800.00122,294.34 Total77,800.00122,294.34 (2) As at 2008.12.31, there are no balances with shareholder with shareholdings above 5% (Including 5%) and with related parties.(3) Detail of other payablesName of company OutstandingamountAge ofoutstandingPercentage tototal otherpayablesThe natureor contentReanda CPAs59,600.00Within 1year76.61%Service feeOthers18,200.00Within 1year23.39%Total77,800.00100.00%10) Accrued liabilitiesItem2008.12.312007.12.31 Office dilapidationaccruals98,570.00-Total98,570.00-The office dilapidation accruals were booked as accrued liability per PRC GAAP.11) Paid-in CapitalItem Beginningbalance Increase DecreaseEndingbalancePPD Development(S) Pte Ltd.1,316,093.10--1,316,093.10Total1,316,093.10--1,316,093.1012) Surplus ReservesClassification2007.12.31Increased incurrentperiodDecreased incurrentperiod2008.12.31Statutory SurplusReserveOther surplusreservesReserve funds1,285.321,621.92-2,907.24 Enterprisedevelopment fundProfits reinvestedTotal1,285.321,621.92-2,907.2413) Retained EarningsItem Year2008Year2007 Retained earnings, beginning11,567.90-of periodAdd: Transferred from current16,219.2212,853.22 earningsOther transferred inLess: Withdraw for surplusreserveWithdraw for staff bonusand welfare fundWithdraw for reserve fund1,621.921,285.32 Withdraw for enterprisedevelopment fundProfits reinvestedLess: Preferred share dividendspayableWithdraw for othersurplus reservesOrdinary share dividendspayableDividends on ordinaryshares transferred into sharecapitalRetained earnings, end of26,165.2011,567.90 period14) Operating Revenue(1) Items listedItems Year 2008Year 2007Major operating revenue3,976,625.821,320,503.00 Total3,976,625.821,320,503.00(2) Listed by production or business categoriesProduct/CategoryYear 2008Year 2007 OperatingrevenueOperatingcostsOperatingprofitOperatingrevenueOperatingcostsCost plusrevenue3,546,714.381,306,362.042,240,352.341,128,260.00357,684.49Pass throughrevenue429,911.44429,911.44-192,243.00192,243.00 Total3,976,625.821,736,273.482,240,352.341,320,503.00549,927.4915) Tax and surchargeItems Tax Rate Year 2008Year 2007 Business tax5%198,831.2866,025.15 Total198,831.2866,025.1516) Finance chargesItem Year 2008Year 2007Interests expense--less：interest income5,779.253,364.75 Foreign exchange gainsor losses19,785.9126,479.78Bank charges4,335.73536.00Total18,342.3923,651.0317) Income tax expensesItem Year 2008Year 2007Current income taxexpenses4,054.816,793.54Deferred income tax19,714.00-assetsTotal23,768.816,793.5418) Other cash provided by operating activitiesItems Year2008Year2007Other receivables120,906.93-Interest income5,779.253,364.75 Total126,686.183,364.7519) Other cash used in operating activitiesItems Year2008Year2007General and392,372.84167,019.02 administrative expensesOther receivables50,000.00-Prepayments21,040.0054,243.38 Other payables59,751.61-Total523,164.45221,262.4020) Other cash used in investing activitiesItems Year2008Year2007 Purchase of fixed assets47,162.08292,718.00 Total47,162.08292,718.0021) Adjustments to reconcile net income to net cash provided by(used in) operating activitiesSupplement Information Year 2008Year 2007 1. Adjustments to reconcile net incometo net cash provided by (used in)operating activities：Net profit16,219.2212,853.22 Add：Impairment loss of assetsDepreciation of fixed assets, oil and gas64,806.349,397.28 assets and productive biological assetsAmortization of intangible assetsAmortization of long-term deferredexpensesLoss on disposal of fixed assets,intangible assets, other long terminvestment（ “－”used for gain）Loss resulting from scraped asset（“－”used for gain）Loss from changes in fair value（“－”used for gain）Finance charges（ “－”used for19,785.9126,479.78 Receipts）Investment losses（ “－”used forgain）Decrease of deferred tax assets（-19,714.00“－”used for increase）Increase of deferred tax liabilities（“－”used for decrease）Decrease of inventory（ “－”used forincrease）Decrease of operating receivables（-437,314.42-438,244.31“－”used for increase）Increase of operating payables（61,525.41272,294.98“－”used for decrease）Net cash flows from operating activities-294,691.53-117,219.05 2 Cash flows from investing andfinancing activities：Debt converted into capitalConvertible bonds due within one yearFixed assets held under a finance lease3.Changes in cash and cashequivalents：Net cash at the end of the period518,036.75879,676.27 Less: cash at the beginning of the period879,676.27-Add: cash equivalents at the end of theperiodLess: cash equivalent at the beginningof the periodNet Increase(Decrease) in Cash and-361,639.52879,676.27 Cash Equivalents22) Cash and Cash EquivalentsItems Year 2008Year 2007 (1)Cash518,036.75879,676.27 Include：Cash in hand6,219.60717.27Bank accounts with no restrictions on511,817.15878,959.00 withdrawOther monetary funds with no restrictionson withdrawDeposits and required reserve in centralbank with no restrictions on withdrawInter-bank DepositsInter-bank Loans(2)Cash EquivalentsInclude：Bonds investment with maturitydate less than three months(3)Cash equivalents at the end of the period518,036.75879,676.27 Include：Restricted cash and cashequivalents in Parent and other subsidiarycompanies8. Related Party Relationships and Transactions1) The identification of related partiesWhen a party controls, jointly controls or exercises significant influence over another party, or when a party is controlled or exercised significant influence by another party, or when two or more parties are under the common control, joint control or significant influence of the same party, the related party relationships are constituted.2) Related Party Relationships(1) Related parties where a control relationship existsName of the EnterprisePlace ofRegistrationMajoroperatingbusinessTherelationshipwith thecompanyOwnershipformsLegalRepresentativePPD Development (S) Pte Ltd.10 SciencePark Road,#02-04 TheAlpha,SciencePark IISingaporeManagingclinicalresearchprogramsParentcompanyLimitedCompanyBrainard JuddHartman(2) The amount of and the change in registered capital of related parties where a control relationship existsName of theEnterprise2007.12.31Increase Decrease2008.12.31PPD Development (S)SGD8,298,666.95--SGD8,298,666.95。
公司年报术语中英对照
公司年报术语中英对照english chineseAnnual Report 年報CONTENTS 目錄Corporate Information 公司資料Financial Highlights 財務摘要Chairman’s Statement主席報告書Directors and Senior Management Profile 董事及高級管理人員簡介Corporate Governance Report 企業管治報告Directors’ Report董事會報告Independent Auditor’s Report獨立核數師報告Consolidated Income Statement 綜合收益表Consolidated Statement of Comprehensive Income 綜合全面收益表Consolidated Statement of Financial Position 綜合財務狀況表Statement of Financial Position 財務狀況表Consolidated Statement of Changes in Equity 綜合權益變動表Consolidated Statement of Cash Flows 綜合現金流量表Notes to the Financial Statements 財務報表附註Financial Summary 財務概要DIRECTORS 董事Executive Directors 執行董事Deputy Chairman 副主席Chairman 主席Independent Non-executive Directors 獨立非執行董事AUDIT COMMITTEE 審核委員會REMUNERATION COMMITTEE 薪酬委員會COMPANY SECRETARY 公司秘書REGISTERED OFFICE 註冊辦事處HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS 總辦事處及主要營業地點PLACE OF BUSINESS 营业地点LEGAL ADVISERS 法律顾问PRINCIPAL BANKERS 主要往来银行Bank of China Limited 中國銀行股份有限公司Industrial & Commercial Bank of China Limited 中國工商銀行股份有限公司China Construction Bank Corporation 中國建設銀行股份有限公司China Merchants Bank Company Limited 招商銀行股份有限公司Standard Chartered Bank (Hong Kong) Limited 渣打銀行（香港）有限公司BNP Paribas 法國巴黎銀行CITIC Bank International Limited 中信銀行國際有限公司Bank of China (Hong Kong) Limited 中國銀行（香港）有限公司Nanyang Commercial Bank, Limited 南洋商業銀行有限公司PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE 主要股份過戶登記處INTERNET WEBSITE 互聯網址STOCK CODE ON THE STOCK EXCHANGE OF HONG KONG LIMITED 香港聯合交易所有限公司股份代號PUBLIC RELATIONS CONSULTANT 公關顧問Strategic Financial Relations Limited 縱橫財經公關顧問有限公司TURNOVER 营业额For the year ended 31 December 截至十二月三十一日止年度NET PROFIT/(LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY 本公司擁有人應佔溢利╱（虧損）淨HK$’M百萬港元The PRC 中国On behalf of 本人谨代表Board of Directors 董事会the “Company”本公司subsidiaries 附属公司together the “Group”合称“本集团”financial tsunami 金融海啸gradually subsided 慢慢减退the Chinese Government 中国政府launched new policies 推出新政策sales volume 销售配额upstream business 上游业务acquisition 收购specialising in 从事income stream 收入来源market demand 市场需求upstream products 上游产品refractory materials 耐火材料economic stimulus measures 刺激经济的措施integrate its operation 整合营运enhance cost effectiveness 优化成本效益gross profit margin 毛利率PROSPECTS 展望PLACING OF SHARES 股份配售fund raising 资金筹集REMUNERATION 薪酬APPRECIATION 致谢(Continued) （续）Note: 附注HK$’000千港元Turnover 营业额Cost of sales 销售成本Gross profit 毛利Profit/(loss) before taxation Income tax 除税前溢利（亏损）所得税Profit/(loss) for the year 本年度溢利（亏损）Attributable to: 应占Owners of the company 本公司拥有人Non-controlling interests 非控股权益Current assets 流动资产Non-current assets 非流动资产Total assets 资产总值Current liabilities 流动负债Non-current liabilities 非流动负债Total liabilities 总负债值Net assets 资产净值Share capital 股本Reserves 储蓄Non-controlling interests 非控股权益Total equity 权益总值FINANCIAL SUMMARY 财务概要NOTES TO THE FINANCIAL STATEMENTS 财务报表附注GENERAL 一般资料immediate parent 直接母公司ultimate controlling party 最终控股人士is incorporated in 于注册成立subsidiaries 附属公司SIGNIFICANT ACCOUNTING POLICIES 主要会计政策Statement of compliance 遵守声明Basis of preparation of the financial statements 财务报表编制基准historical cost basis 历史成本法the year under review 回顾年Profit after taxation 除税后净溢利LIQUIDITY 流动资金FINANCIAL RESOURCES 财务资源prudent capital arrangements 审慎财务安排unsecured bank loans 无抵押银行贷款short term bank loans 短期银行贷款cash and bank deposits 现金及银行存款pledged deposits 抵押存款trade receivable 应收账款trade facilities 贸易融资balance of net current assets 流动资产净额total liabilities to total assets ratio 总负债对应资产的比率material contingent liability 重大或然负债financial derivative products 金融衍生工具产品interest rate differential 息差stated bank loans 银行存款material risk from interest rate fluctuations 重大息率风险are denominated in Renminbi 以人民币结算appreciation of the Renminbi 人民币升值university graduates 大学毕业生staff remuneration and welfare system 薪酬及福利制度share option scheme 股权计划staff costs 雇员成本directors’ emoluments董事酬金business partners 业务伙伴senior economist 高级经济师marketing 市场推广Chinese Career Manager 中国职业经理人SENIOR MANAGEMENT 高级管理层CORPORATE GOVERNANCE REPORT 企业管治报告CORPORATE GOVERNANCE PRACTICES 企业管制常规DIRECTORS’ SECURITIES TRANSACTIONS 董事进行证券交易businesses, strategic decision and performance 业务、决策及表现TRAINING FOR DIRECTORS 董事培训PRACTICES AND CONDUCT OF MEETINGS 董事常规及操守Board papers 董事会文件appropriate, complete and reliable information 合适、完整及可靠之资料Board meeting 董事会会议committee meeting 委员会会议financial position 财务状况make informed decisions 做出知情决定PRACTICES AND CONDUCT OF MEETINGS 会议常规及操守conflict of interests for a substantial shareholder 设计主要股东利益冲突CHAIRMAN AND CHIEF EXECUTIVE OFFICER 主席及行政总裁ROTATION OF DIRECTORS 董事轮值退任forthcoming annual general meeting 应届股东周年大会interim review 中期查阅non-audit service 非审核服务DIRECTORS’ RESPONSIBILITIES ON THE FINANCIAL STATEMENTS董事对财务报表所负之责任a going concern basis 持续经营基准INTERNAL CONTROLS 内部控制system of internal controls 内部控制系统external advisor 外聘顾问SHAREHOLDER RIGHTS AND INVESTOR RELATIONS 股东福利及投资者关系voting procedures 投票程序by poll 以点票形式independent scrutineer 独立监票员DIRECTORS’ REPORT董事会报告PRINCIPAL ACTIVITIES 主要业务SEGMENTAL INFORMATION 分类资料RESULTS AND APPROPRIATIONS 业绩及分派DISTRIBUTABLE RESERVES OF THE COMPANY 本公司可供分派之储蓄FINANCIAL SUMMARY 财务概要PROPERTY, PLANT AND EQUIPMENT AND CONSTRUCTION-IN-PROGRESS 物业、房产、设施及在建工程SHARE CAPITAL 股本BORROWINGS 借贷RETIREMENT SCHEMES 退休金计划Nature of interest 權益性質Capacity 身份Number of Shares 股份数目% to the issued share capital of the Company 占本公司已发行股本的百分比Founder of a trust 信托之成立人Interest of spouse 配偶之权益Interests in shares, underlying shares or equity与相关公司股份、相关股份或股本权 interests in associated corporationsBeneficial owner 权益拥有人non-voting deferred shares 无投票权过延股份Interest of controlled corporation 受控公司之权益1 ordinary share 普通股份1股SHARE OPTION SCHEME 购股权计划nominal value of a share 股份面值SHORT POSITIONS 淡仓DIRECTORS’ INTERESTS IN CONTRACTS董事于合约的权益MANAGEMENT CONTRACTS 管理合约PURCHASE, SALE OR REDEMPTION OF THE COMPANY’S LISTED购买、出售或购回本公司的上市证券SECURITIESMAJOR CUSTOMERS AND SUPPLIERS 主要客户及供应商PRE-EMPTIVE RIGHTS 有限购股权SUFFICIENCY OF PUBLIC FLOAT 足够公众持股量statements of financial position 财务状况表consolidated income statement 综合收益表consolidated statement of comprehensive income 综合全面收益表consolidated statement of changes in equity 综合权益变动表consolidated statement of cash flows 综合现金流量表summary of significant accounting policies 主要会计政策概要DIRECTORS’ RESPONSIBILITY FOR THE CONSOLIDATED FINANCIAL董事就财务报表须承担的责任STATEMENTSdisclosure requirements 披露规定material misstatement 重大错误陈述due to fraud or error 由于欺诈或错误In our opinion 我们认为a true and fair 公平、真实Profit for the year 本年度溢利Earnings per share 每股盈利Basic 基本Diluted 摊薄form part of 构成其中一部分Other comprehensive income for the year (net of tax) 本年度其他全面收益（扣除税项）Exchange differences on translation of financial statements换算海外业务财务报表之汇兑差额of foreign operationsSurplus on revaluation of buildings held for own use 持作自用之楼宇重估盈余Deferred tax on revaluation of buildings held for own use 持作自用之楼宇延期税项Deferred tax arising on change in tax rate 税率变动之延期税项Fair value loss on available-for-sale equity securities 可供出售权益证券公平值亏损Total comprehensive income for the year 本年度全面收益总值Non-current assets 非流动资产Goodwill 商誉Property, plant and equipment 物业、房产及设备Prepaid lease payments on land under operating leases 经营租约下预付土地租金Intangible assets 无形资产Available-for-sale equity securities 可供出售权益证券Pledged bank deposits 已抵押银行存款Restricted bank balance 受限制银行结余Deferred tax assets 延期税项资产Current assets 流动资产Inventories 存货Trade and other receivables 应收账款及其他应收款Prepayments and deposits 预付款项及按金Tax recoverable 可收回税项Cash and cash equivalents 现金及现金等值项目Current liabilities 流动负债Trade payables 应付账款Accruals and other payables 预提费用及其他应付款Amounts due to directors 应付董事款项Bank borrowings due within one year 于一年内到期的银行贷款Tax payable 应付税项Net current assets 流动资产净值Total assets less current liabilities 资产总值减流动负债Deferred tax liabilities 延期税项负债NET ASSETS 资产净值CAPITAL AND RESERVES 资本及储蓄TOTAL EQUITY 权益总值Investments in subsidiaries 与附属公司之投资Amounts due from subsidiaries 应收附属公司款项Operating activities 经营活动Adjustments for 调整项目Depreciation 拆旧Amortisation of prepaid lease payments on land under经营租约下预付土地租金之摊销operating leasesAmortisation of intangible assets 无形资产摊销Impairment loss 减值亏损Write back of impairment loss 减值亏损拨回Net gains on disposal of property, plant and equipment 出售物业、厂房、设备之收益净值Reversal of write down of inventories 存货撇除拨回Bad debt written off 坏账撇销Operating cash flows before changes in working capital 营运资金变动前的经营现金流量(Increase)/decrease in inventories 存货（增加）/减少Decrease/(increase) in trade and other receivables 应收账款及其他应收款（增加）/减少(Increase)/decrease in prepayments and deposits 预存款项及按金（增加）/减少Increase/(decrease) in trade payables 应付账款（增加）/减少Decrease in accruals and other payables 预提费用及其他应付款减少(Decrease)/increase in amounts due to directors 应付董事款项（减少）/增加Cash (used in)/generated from operations 经营（使用）/所得的现金PRC Enterprise Income Tax paid 已付中国企业所得税Tax paid 已付税款Net cash (used in)/generated from operating activities 经营活动（使用）/所得的现金净值Investing activities 投资活动Purchase of property, plant and equipment 购置物业、房产及设备Proceeds from disposal of property,plant and equipment 出售物业、厂房、设备所得款项Payment for purchase of availablefor-sale equity securities 购买可供出售权益证券付款Interest received 已收利息Deferred consideration paid for acquisition of subsidiaries 已付收购公司之递延代价Financing activities 融资活动Net proceeds from placement of new shares 配售新股份之所得款项净值Repayment of bank borrowings 偿还银行贷款Proceeds from new bank borrowings 新造银行贷款所得款项Interest paid on bank borrowings 已付银行贷款利息Proceeds from shares issued under share option scheme 根据购股权计划发行股份是所得款项Net cash from financing activities 融资活动所得现金净值Net increase in cash and cash equivalents 现金及现金等值项目增加净值Cash and cash equivalents at beginning of the year 年初现金及现金等值项目Effect of changes in exchange rate 外币汇率变动之影响Cash and cash equivalents at end of the year 年末现金及现金等值项目principal place of business 主要营业地点Subsidiaries and non-controlling interests 附属公司及非控股权益contractual obligations 合约责任Jointly controlled entity 共同控制实体Other investments in equity securities 其他权益证券投资transaction price 交易价格Office equipment and fixtures 办公室设备及装置Motor vehicles 汽车Lease assets 租赁资产Classification of assets leased to the Group 出租于本集团之资产分类Operating lease charges 经营租赁费用Recognition of impairment losses 减值亏损确认Termination benefits 终止福利Provisions and contingent liabilities 拨备及或然负债Revenue recognition 收入确认prepared 编制Hong Kong Financial Reporting Standards 香港财务报表准则Hong Kong Institute of Certified Public Accountants 香港会计师公会Companies Ordinance 公司条例certain amendments 修订本interpretations 诠释are or have become effective 现时及已经生效accounting period 会计期间historical experience 过往经验Actual results may differ from these estimates. 实际数字或会有别于估计数字accounting estimates 会计估计Intra-group balances and transactions 集团内公司间之结余及交易unrealised profits 未变现溢利previously known as 前称minority interests 少数股东权益represent 指held for sale 持作出售。
财务报表附注翻译
****** CO., LTDNOTES TO THE FINANCIAL STATEMENTSFOR THE YEAR ENDED DECEMBER 31, 2013(All amounts in RMB Yuan) I. Company Profile******* Co., Ltd. (hereinafter referred to as the "Company") is a limited liability company (Sino-foreign joint venture) jointly invested and established by **** Co., Ltd. and ******* Limited on 24 June 2013. On December 26, 2013, the shareholders have been changed to ***** CO., LTD and ******* LIMITED.Business License of Enterprise Legal Person License No.:Legal Representative:Registered Capital: RMB (Paid-in Capital: RMB )Address:Business Scope: Financing and leasing business; leasing business; purchase of leased property from home and abroad; residue value treatment and maintenance of leased property; consulting and guarantees of lease transaction (articles involved in the industry license management would be dealt in terms of national relevant stipulations) II. Declaration on following Accounting Standard for Business EnterprisesThe financial statements made by the Company are in accordance with the requirements of Accounting Standard for Business Enterprises, which reflects the financial position, financial performance and cash flow of the Company truly and completely.III. Basic of preparation of financial statementsThe Company implements the Accounting Standards for Business Enterprises(‘Finance and Accounting [2006] No. 3”) issued by the Ministry of Finance on February 15, 2006 and the successive regulations. The Company prepares its financial statements on a going concern basis, and recognizes and measures its accounting items in compliance with the Accounting Standards for Business Enterprises – Basic Standards and other relevant accounting standards, application guidelines and criteria for interpretation of provisions as well as the significant accounting policies and accounting estimates on the basis of actual transactions and events.IV. The main accounting policies, accounting estimates and changesFiscal yearThe Company adopts the calendar year as its fiscal year from January 1 to December 31.Functional currencyRMB was the functional currency of the Company.Accounting measurement attributeThe Company adopts the accrual basis for accounting treatments and double-entry bookkeeping of borrowing for financial accounting. The historical cost is generally as the measurement attribute, and when accounting elements determined are in line with the requirements of Accounting Standards for Enterprises and can be reliablymeasured, the replacement cost, net realizable value and fair value can be used for measurement.Accounting method of foreign currency transactionsThe Company’s fo reign currency transactions adopt approximate spot exchange rate of the transaction date to convert into RMB in accordance with systematic and rational method; on the balance sheet date, the foreign currency monetary items use the spot exchange rate of the balance sheet date. All balances of exchange arising from differences between the balance sheet date spot exchange rate and the initial recognition or the former balance sheet date spot exchange rate, except that the exchange gains and losses arising by borrowing foreign currency for the construction or production of assets eligible for capitalization are transacted in accordance with capitalization principles, are included in profit or loss in this period; the foreign currency non-monetary items measured at historical cost will still be converted with the spot exchange rate of the transaction date.The standard for recognizing cash equivalentWhen making the cash flow statement, cash on hand and deposits readily to be paid will be recognized as cash, and short-term (usually no more than three months), highly liquid and readily convertible to known amounts of cash with insignificant risk of changes in value are recognized as cash equivalent.Financial InstrumentsClassification, recognition and measurement of financial assets- The company at the time of initial recognition of financial assets divides it into the following four categories: financial assets measured at fair value with changes included in the profit or loss of this period, loans and receivables, financial assets available for sale and held-to-maturity investments. Financial assets are measured at fair value when initially recognized. Relevant transaction costs of financial assets measured at fair value with changes included in the profit or loss of this period are recognized in profit or loss of this period, and relevant transaction costs of other categories of financial assets are recognized in the amount initially recognized.-- Financial assets measured at fair value with changes included in the profit or loss of this period refer to the short-term sales financial assets, including financial assets held for trading or financial assets measured at fair value with changes included in the profit or loss of this period designated upon initial recognition by the management. Financial assets measured at fair value with changes included in the profit or loss of this period are subsequently measured at fair value, and the interest or cash dividends obtained during the holding period will be recognized as investment income, and the gains or losses of the change in fair value at the end of this period are recognized in the profit or loss in this period. When it is disposed, the difference between the fair value and the initial recorded amount is recognized as investment income, while adjusting gains from changes in the fair value.--Loans and receivables: the non-derivative financial assets without the price in an active market and with fixed and determinable recovery cost are classified as loans and receivables. Loans and receivables adopt the effective interest method and take amortized cost for subsequent measurement, and gains or losses arising fromderecognition, impairment or amortization are included in the profit or loss of this period.-- Financial assets available for sale: including non-derivative financial assets available for sale recognized initially and other non-derivative financial assets except for loans and receivables, held-to-maturity investments and trading financial assets. Financial assets available for sale are subsequently measured at fair value, and interest or cash dividends obtained during the holding period will be recognized as investment income, and gains or losses arising from the changes in fair value at the end of this period are recognized directly in owners' equity until the financial asset is derecognized or impaired and then is recognized as the profit or loss in this period.-- Held-to-maturity investments: the non-derivative financial assets with clear intention and ability to hold to maturity by the management of the company, a fixed maturity date and fixed or determinable payments are classified as held-to-maturity investments. Held-to-maturity investments adopt the effective interest method and take amortized cost for subsequent measurement, and gains or losses arising from derecognition, impairment or amortization are included in the profit or loss of this period.Classification, recognition and measurement of financial liabilities- The company at the time of initial recognition of financial liabilities divides it into the following two categories: financial liabilities measured at fair value with changes included in the profit or loss of this period and other financial liabilities. Financial liabilities are measured at fair value when initially recognized. Relevant transaction costs of financial liabilities measured at fair value with changes included in the profit or loss of this period are recognized in profit or loss of this period, and relevant transaction costs of other financial liabilities are recognized in the amount initially recognized.-- Financial liabilities measured at fair value with changes included in the profit or loss of this period include the trading financial liabilities and financial liabilities measured at fair value with changes included in the profit or loss of this period designated upon initial recognition. Financial liabilities are subsequently measured at fair value, and the gains or losses of the change in fair value are recognized in the profit or loss in this period.-- Other financial liabilities: adopting the effective interest method and taking amortized cost for subsequent measurement. The gains or losses arising from derecognition or amortization is included in the profit or loss of this period. Requirements for derecognition of financial liabilitiesFinancial liabilities shall be entirely or partially derecognized if the present obligations derived from them are entirely or partially discharged. Where the Company enters into an agreement with a creditor so as to substitute the current financial liabilities with new ones, and the contract clauses of which are substantially different from those of the current ones, it shall recognize the new financial liabilities in place of the current ones. Where substantial revisions are made to some or all of the contract clauses of the current financial liabilities, the Company shall recognize thenew financial liabilities after revision of the contract clauses in place of the current ones entirely or partially.Upon entire or partial derecognition of financial liabilities, differences between the carrying amounts of the derecognized financial liabilities and the consideration paid (including non-monetary assets surrendered or new financial liabilities assumed) are charged to profit or loss for the current period.Where the Company redeems part of its financial liabilities, it shall allocate the carrying amounts of the entire financial liabilities between the relative fair values of the parts that continue to be recognized and the derecognized parts on the redemption date. Differences between the carrying amounts allocated to the derecognized parts and the consideration paid (including non-monetary assets surrendered and the new financial liabilities assumed) are charged to profit or loss for the current period. Recognition and measurement for transfer of financial assetsIf the Company has transferred nearly all of the risks and rewards relating to the ownership of the financial assets to the transferee, they shall be derecognized. If it retains nearly all of the risks and rewards relating to the ownership of the financial assets, they shall not be derecognized and will be recognized as a financial liability. If the Company has not transferred nor retained nearly all of the risks and rewards relating to the ownership of the financial assets:(1) to give up the control of the financial assets to be derecognized; (2) not giving up control of the financial asset to be recognized based on the extent of its continuing involvement in the transferred financial assets and liabilities are recognized accordingly.If the transfer of entire financial assets satisfy the criteria for derecognition, differences between the amounts of the following two items shall be recognized in profit or loss for the current period: (1) the carrying amount of the transferred financial asset; (2) the aggregate consideration received from the transfer plus the cumulative amounts of the changes in the fair values originally recognized in the owners’ equity. If the partial transfer of financial assets satisfy the criteria for derecognition, the carrying amounts of the entire financial assets transferred shall be split into the derecognized and recognized parts according to their respective fair values and differences between the amounts of the following two items are charged to profit or loss for the current period: (1) the carrying amounts of the derecognized parts;(2) The aggregate consideration for the derecognized parts plus the portion of the accumulative amounts of the changes in the fair values of the derecognized parts which are originally recognized in the owners’ equity.Determination of the fair value of financial instruments- If financial instruments trade in an active market, the quoted price in an active market determines its fair value; if financial instrument trade not in an active market, the valuation techniques determine the fair value. Valuation techniques include recent market transaction price reference to the familiar situation and volunteer transaction, current fair value reference to other substantially similar financial instruments, discounted cash flow method and option pricing model and so on.Test and Provisions for impairment loss on financial assets--Except trading financial assets, the Company makes assessment on the carrying values of financial assets at the balance sheet date. If there is evidence that the fair value of specific financial asset has been impaired, provisions for impairment loss is made accordingly.-- Measurement of impairment of financial assets measured at amortized costIf there is objective evidence that the financial asset measured at amortized cost has been impaired, the carrying amount of the financial asset is written down to the present value of estimated future cash flows (excluding future credit losses that have not yet occurred), and the amount of reduction is recognized as impairment loss and is recognized in the profit or loss of this period. The Company carries out the impairment test of significant single financial asset separately, carries out the impairment test on insignificant single financial asset from a single or combination of angles, and carries out the impairment test on single asset without objective evidence of impairment along with the financial assets with similar credit risk characteristics to constitute a combination, but does not carry out the impairment test on the provision for impairment of financial assets based on the single in the portfolio. In the subsequent period, if there is objective evidence that the value of financial asset has been restored and recognized relevant to the objective matters occurring after the impairment, previously recognized impairment loss shall be reversed and charged into the profit or loss of this period. But the book value after the reversal should not exceed the amortized cost at the reversal date of the financial assets supposed no provision for impairment. When the financial assets measured at amortized cost actually occur loss, offset against the related provision for impairment.--Available for sale financial assetsIf there is objective evidence that an impairment of available for sale financial assets occurs, even though the financial asset has not been derecognised, the cumulative loss of decrease of the faire value originally recorded in the owner's equity should be transferred out and charged into the current profit and loss. The cumulative loss is the initial acquisition cost of available for sale financial assets, deducting the fair value of the withdrawing principal and amortization amount and impairment loss as well as net impairment amount originally charged into the profit or loss.Recognition and provision for bad debts of accounts receivableIf there is objective evidence that receivables are impaired at the end of this period, the carrying value will be written down to its present value of estimated future cash flows, and the amount of reduction is recognized as impairment loss and is recognized in the current profit or loss. Present value of estimated future cash flows is determined through future cash flows (excluding credit losses that have not been incurred) discounted at the original effective interest rate, taking into account the value of related collateral (less estimated disposal costs, etc.). Original effective interest rate is the actual interest rate when the receivables are recognized initially. The estimated future cash flows of short-term receivables have small difference from the present value, and the estimated future cash flows are not discounted in determining the related impairment loss.The significant single receivables are separately carried out impairment test at the end of this period, and if there is objective evidence that the impairment has occurred, based on the difference of the present value of future cash flows less than the book value, the impairment loss is recognized and the provision of bad debts is done. The significant single amount refers to top five receivable balances or the sum of payments accounting for more than 10% of receivable balances.If there is objective evidence that the individual non-significant receivables impairment has occurred, separate impairment test is done, the impairment loss is recognized and the provision for bad debts is done; other individual non-significant receivables and receivables not impaired after separate test are together divided into several combinations for impairment testing with aging as the similar credit risk characteristics, to determine the impairment loss and do provision for bad debts.In addition to separate provision for impairment of receivables, the company is based on the actual loss rate of receivable portfolio with the same or similar to the previous year and aging as the similar credit risk characteristics, and combines the currentFixed assets and depreciation accounting methodRecognition criteria of fixed assets: fixed assets refer to tangible assets held for the purpose of producing commodities, providing services, renting or business management with useful lives exceeding one accounting year and high unit value. Classification of fixed assets: buildings and constructions, machinery equipment, transport equipment and office equipment.Fixed assets pricing and depreciation method: the fixed assets is priced based on actual cost and depreciated in a straight-line method. The estimated useful lives, estimated residual rate and annual depreciation rate of various categories of fixedend of the reporting period, and if the market continuing to fall or technological obsolescence, damage, long-term idle and other reasons result in fixed assets recoverable amount lower than its book value, in accordance with the difference provision for impairment of fixed assets, the impairment loss is recognized in fixedassets and can not be reversed in a subsequent accounting period. The recoverable amount is recognized based on the fair value of the assets deducting the net amount after disposal expenses and the present value of cash flows of the estimated future assets. The present value of the future cash flows of the asset is determined in accordance with the resulting estimated future cash flows in the process of continuous use and final disposal to select its appropriate discount rate and the amount of the discount.Accounting method of construction in progressThe construction in progress is priced on the actual cost, to temporarily transfer to fixed assets when reaching the intended use state in accordance with the project budget and the actual cost of the project, and to adjust the book value of fixed assets according to the actual cost after handling final settlement of accounts. Acquisition, construction or production of assets eligible for capitalization borrowed specifically or the interest on general borrowing costs and auxiliary expenses of specific borrowings occurred can be included in the cost of capital assets and subsequently recognized in the current profit or loss before the acquisition, construction or production of the qualifying asset reaches the intended use state or the sale state.Impairment of construction in progress: the Company conducts a comprehensive inspection of construction in progress at the end of the reporting period; if the construction in process is stopped for long time and will not be constructed in the next three years and the construction in progress brings great uncertainty to the economic benefits of enterprises due to backward performance or techniques and the construction in progress occurs impairment, the balance of recoverable amount of single construction in progress lower than the book value of construction in progress is for impairment provisions of construction in progress. Impairment loss on the construction in progress shall not be reversed in subsequent accounting periods once recognized.The pricing and amortizing of intangible assetsPricing of the intangible assets---The cost of outsourcing intangible assets shall be priced based on the actual expenditure directly attributable to intangible assets for the expected purpose.--- Expenditure on internal research and development projects is charged into the current profit or loss, and expense in the development stage can be recognized as intangible costs if meeting the criteria for capitalization.--- Intangible assets of investment is in accordance with the agreed value of the investment contract or agreement as costs, excluding not fair agreed value of the contract or agreement.--- Intangible assets of the debtor obtained in the non-cash asset cover debt method can be accepted; if the receivable creditor’s right is changed into intangible assets, then record according to the fair value of intangible assets.--- For non-monetary transaction intangible assets, the fair value and related taxes payable of non-monetary assets should be the accounting cost.Amortization of intangible assets: as for the intangible assets with limited service life, it is amortized by straight-line method when it is available for use within the serviceperiod. As for unforeseeable period of intangible assets bringing future economic benefits to the company, it is regarded as intangible assets with uncertain service life, and intangible assets with uncertain service life can not be amortized. The Company’s intangible assets include land use rights, forest land use rights and the production and marketing information management software. The land use rights are amortized averagely in accordance with 50 years of service life, forest land use rights are amortized averagely in accordance with 30 years of service life, and the production and marketing information management software are amortized averagely in accordance with 5 years of service life.Expenditures arising from development phase on internal research and development projects can be recognized as intangible assets when satisfying all of the following conditions: (1) there is technical feasibility of completing the intangible assets so that they will be available for use or sale; (2) there is intention to complete and use or sell the intangible assets; (3) the method that the intangible assets generate economic benefits, including existence of a market for products produced by the intangible assets or for the intangible assets themselves, shall be proved. Or, if to be used internally, the usefulness of the intangible assets shall be proved; (4) adequate technical, financial, and other resources are available to complete the development of intangible assets, and the Company has the ability to use or sell the intangible assets;(5) the expenditures arising from development phase of the intangible assets can be measured reliably.Impairment of intangible assets: the Company conducts a comprehensive inspection on intangible assets at the end of the reporting period. If the intangible assets have been replaced by other new technologies so as to seriously affect its capacity to create economic benefits for the enterprise, the market value of certain intangible assets sharply fall and is not expected to recover in the remaining amortization period, certain intangible asset has exceeded the legal time limit but still has some value in use as well as the intangible asset impairment has occurred, the provision for impairment is done according to the difference between the individual estimated recoverable amount and the book value. Impairment loss on the intangible asset shall not be reversed in subsequent accounting periods once recognized.Accounting method of capitalization of borrowing costsBorrowing costs that are directly attributable to the acquisition, construction or production of qualifying assets for capitalization should be charged into the relevant costs of assets and therefore should be capitalized. Borrowing costs incurred after qualifying assets for capitalization reaches the estimated use state are charged to profit or loss in the current period. Other borrowing costs are recognized as expenses based on the accrual and are charged to profit or loss in the current period.Capitalization of borrowing costs should meet the following conditions: expenditures are being incurred, which comprise disbursements incurred in the form of payments of cash, transfer of non-monetary assets or assumption of interest-bearing debts for the acquisition, construction or production of qualifying assets for capitalization; borrowing costs are being incurred; purchase, construction or manufacturing activities that are necessary to prepare the assets for their intended use or sale are in progress.Capitalization amount of borrowing interest: the borrowing interest incurred from the acquisition, construction or production of assets eligible for capitalization borrowed specifically or generally should be determined the capitalization amount according to the following method before the acquisition, construction or production of a qualifying asset reaching its intended use or sale state:---Where funds are borrowed specifically for purchase, construction or manufacturing of assets eligible for capitalization, costs eligible for capitalization are the actual interest costs incurred in current period less the interest income of unused borrowing funds deposited in the bank or any income earned on the temporary investment of such borrowings.---Where funds allocated for purchase, construction or manufacturing of assets eligible for capitalization are part of a general pool, the eligible capitalization interest amounts are determined by multiplying a capitalization rate of general borrowing by the weighted average of accumulated capital expenditures over those on specific borrowings. The capitalization rate will be determined based on the weighted average rate of the borrowing costs applicable to the general pool.Suspension for capitalization: Capitalization of borrowing costs should be suspended during periods in which purchase, construction or manufacturing of assets eligible for capitalization is interrupted abnormally with the interruption time exceeding three months continuously. Borrowing costs incurred during the interruption should be charged to profit or loss for the current period, and should continue to be capitalized when purchase, construction or manufacturing of the relevant assets resumes. If the interruption is the necessary procedure to prepare the assets purchased, constructed or manufactured eligible for capitalization for their intended use or sale, the borrowing costs should continue to be capitalized.Recognition criteria and measurement method of estimated liabilities Recognition criteria of estimated liabilities: when the external security, pending litigation or arbitration, product quality assurance, layoffs, loss of contracts, restructuring obligations, fixed asset retirement obligations and other pertinent business meet the following conditions, it can be recognized as the liability: (1) the obligation is a present obligation of the Company; (2)it is probable that settlement of such an obligation will result in the economic benefit to flow out from the Company;(3) the amount of the obligation can be measured reliably.Measurement method of estimated liabilities: The Company’s estimated liabilities shall be initially measured at the best estimates of the necessary expenditures for the fulfillment of the present obligations. To determine the best estimates, the Company shall take into full account the risks, uncertainties, time value of money, and other factors relating to the contingencies. If the time value of money is significant, the best estimates shall be determined after discounting the relevant future cash outflows. If there is a continuous range for the necessary expenses, and probabilities of occurrence of all the outcomes within this range are equal, the best estimate shall be determined at the average amount within the range. The best estimates shall be determined as follows in other circumstances: (1) if the contingency involves a single item, the best estimate shall be determined at the most likely outcome; (2) if the contingency。
Notes to the Financial Statements
15 151134 341.GENERALThe Company is a public limited company incorporated in the Cayman Islands under the Companies Law (Revised) Chapter 22 of the Cayman Islands as an exempted company with its shares listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). Its ultimate holding company isChampion Technology Holdings Limited (“Champion”), a company which was originally incorporated in the Cayman Islands but subsequently re-domiciled to Bermuda, and its shares are also listed on the Stock Exchange.The Company is an investment holding company. Its subsidiaries areprincipally engaged in sales of general systems products, provision of services and software licensing, leasing of systems products and investments in e-commerce projects.2.ADOPTION OF NEW AND REVISED STATEMENTS OF STANDARD ACCOUNTING PRACTICEIn the current year, the Group has adopted for the first time a number of new and revised Statements of Standard Accounting Practice (“SSAP”s) issued by the Hong Kong Society of Accountants. The adoption of these SSAPs has resulted in a change in the format of presentation of the consolidated cash flow statement and the introduction of the consolidated statement of changes in equity.Cash flow statementsIn the current year, the Group has adopted SSAP 15 (Revised) “Cash flow statements”. Under SSAP 15 (Revised), cash flows are classified under three headings – operating, investing and financing, rather than the previous five headings. Interest received and paid, which were previously presented under a separate heading, are classified as investing and financing cash flows respectively. Cash flows arising from taxes on income are classified asoperating activities, unless they can be separately identified with investing or financing activities.Foreign currenciesSSAP 11 (Revised) “Foreign currency translation” has eliminated the choice of translating the income statements of subsidiaries outside Hong Kong at the closing rate for the period which was previously followed by the Group. They are now required to be translated at an average rate. This change inaccounting policy has not had any material effect on the results for the current or prior accounting periods.Employee benefitsIn the current year, the Group has adopted SSAP 34 “Employee benefits”,which introduces measurement rules for employee benefits, including retirement benefit schemes. The principal effect of the implementation of SSAP 34 is in connection with the recognition of costs for the Group’s defined benefit pension scheme. In prior periods, the expected costs of providing pensions under the Group’s pension scheme are charged to the income statement over the periods benefiting from the services of employees at a level percentage of pensionable salary.For the year ended 30 June 2003Notes to the Financial Statements2.ADOPTION OF NEW AND REVISED STATEMENTS OF STANDARD ACCOUNTING PRACTICE – Continued Employee benefits – ContinuedUnder SSAP 34, the cost of providing retirement benefits under the Group’s defined benefit retirement benefit plan is determined using the projected unit credit method, with actuarial valuation being carried out annually. Actuarial gains and losses which exceed 10% of the greater of the present value of the Group’s pension obligations and fair value of plan assets are amortised over the expected average remaining working lives of the employees participating in the plan. Past service cost is recognised immediately to the extent that the benefits are already vested.As a result of the changes described above, the Group has determined the transitional liability for its defined benefit plan at the date of adoption of SSAP 34 was HK$71,879,000 (of which HK$66,306,000 arose in prior year) more than the liability that would have been recognised at the same date using the previous accounting policy. This amount has been recognised immediately,with an adjustment of approximately HK$71,413,000 and HK$466,000 to the opening balances of accumulated profits and translation reserve at 1 July 2002respectively. The change in policy has resulted in a decrease in the net profit for the year ended 30 June 2002 amounted to HK$65,840,000.3.SIGNIFICANT ACCOUNTING POLICIESThe financial statements have been prepared under the historical costconvention and in accordance with accounting principles generally accepted in Hong Kong. The principal accounting policies adopted are as follows:Basis of consolidationThe consolidated financial statements incorporate the financial statements of the Group made up to 30 June each year.The results of subsidiaries acquired or disposed of during the year are included in the consolidated income statement from the effective dates of acquisition or up to the effective date of disposal, as appropriate.All significant inter-company transactions and balances within the Group have been eliminated on consolidation.GoodwillGoodwill represents the excess of the cost of acquisition over the Group’s interest in the fair value of the identifiable assets and liabilities of a subsidiary at the date of acquisition.Goodwill arising on acquisition prior to 1 July 2001 continues to be held in reserves and will be charged to the income statement at the time of disposal of the relevant subsidiary, or at such time as the goodwill is determined to be impaired.Goodwill arising on acquisition after 1 July 2001 is capitalised and amortised on a straight line basis over its economic useful life. Goodwill arising on the acquisition of subsidiaries is presented separately in the balance sheet.34 10%34 71,879,000 66,306,000 71,413,000 466,000 65,840,000For the year ended 30 June 2003Notes to the Financial Statements3.SIGNIFICANT ACCOUNTING POLICIES – Continued Revenue recognitionSales of goods are recognised when goods are delivered and title has been passed.Service income is recognised when the services are rendered.Income from licensing is recognised when the relevant licensing agreements are formally concluded.Rental income, including rental invoiced in advance from assets underoperating leases, is recognised on a straight line basis over the relevant lease term.Income from certain e-commerce projects where the Group is contracted to receive a pre-determined minimum sum over the period of the projects is allocated to accounting periods so as to reflect a constant periodic rate ofreturn on the net investment in these e-commerce projects. Income from other e-commerce projects are recognised when the Group’s right to receive the distributions has been established.Interest income is accrued on a time basis by reference to the principal outstanding and at the interest rate applicable.Dividend income is recognised when the Group’s right to receive payment has been established.Property, plant and equipmentProperty, plant and equipment are stated at cost less depreciation and amortisation and any accumulated impairment losses.Depreciation and amortisation are provided to write off the cost of property,plant and equipment over their estimated useful lives, using the straight line method, at the following rates per annum:Freehold landNilLeasehold land and buildings Over the shorter of the remaining unexpired terms of the relevant leases or 50 years Plant and machinery and10% – 50%telecommunications networksAssets held under finance leases are depreciated over their estimated useful lives on the same basis as owned assets, or the terms of the leases, where shorter.The gain or loss arising from disposal or retirement of an asset is determined as the difference between the sale proceeds and the carrying amount of the asset and is recognised in the income statement.50 10%-50%3.SIGNIFICANT ACCOUNTING POLICIES – ContinuedLeasesLeases are classified as finance leases when the terms of the lease transfer substantially all the risks and rewards of ownership of the assets concerned to the Group. Assets held under finance leases are capitalised at their fair values at the date of acquisition. The corresponding liability to the lessor, net ofinterest charges, is included in the balance sheet as a finance lease obligation of the Group. The finance costs, which represent the difference between the total leasing commitments and the fair value of the assets acquired, arecharged to the income statement over the period of the relevant lease so as to produce a constant periodic rate of charge on the remaining balance of the obligations for each accounting period.All other leases are classified as operating leases and the rentals payable are charged to the income statement on a straight line basis over the relevant lease term.Investments in subsidiariesInvestments in subsidiaries are included in the balance sheet of the Company at carrying value, less any identified impairment loss. Results of subsidiaries are accounted for by the Company on the basis of dividends received or receivable during the year.Systems and networksSystems and networks are stated at cost less amortisation and any accumulated impairment losses.Systems and networks represent all direct costs incurred by the Group in setting up systems and networks, including the cost of equipment,development cost and subcontracting expenditure. Such assets are recognised only if all of the following conditions are met:–an asset is created that can be identified (such as software and new processes);–it is probable that the asset created will generate future economic benefits; and–the development cost of the asset can be measured reliably.Development cost that cannot fullfil the above conditions is recognised as anexpense in the period in which it is incurred. Systems and networks that fullfil the above conditions are amortised on a straight line basis over their estimated useful lives, subject to a maximum of five years.For the year ended 30 June 2003Notes to the Financial Statements3.SIGNIFICANT ACCOUNTING POLICIES – Continued Investments in e-commerce projectsInvestments in e-commerce projects are stated at cost less amortisation and any accumulated impairment losses.Investments in e-commerce projects represent the Group’s investment costs incurred on internet-based business projects over which the Group receives distributions from these projects based on an agreed percentage of the net revenue of each project or a pre-determined guaranteed return over a fixed period of time. Payments receivables each year for projects with pre-determined guaranteed return are apportioned between income andreduction of the carrying value of the investments so as to reflect a constant periodic rate of return on the net investment in these e-commerce projects.The investment costs of other projects are written off using the straight line method over the estimated life of the individual project from the date ofcommencement of commercial operations subject to a maximum of five years.Where the estimated recoverable amount of these investments falls below their carrying amount, the carrying amount of the investments, to the extent that it is considered to be irrecoverable, is written off immediately to the income statement.Investments in securitiesInvestments in securities are recognised on a trade-date basis and are initially measured at cost.Investments other than held-to-maturity debt securities are classified as investment securities and other investments.Investment securities, which are securities held for an identified long term strategic purpose, are measured at subsequent reporting dates at cost, as reduced by any identified impairment loss.Other investments are measured at fair value, with unrealised gains and losses included in the net profit or loss for the year.InventoriesInventories are stated at the lower of cost and net realisable value. Cost is calculated using the first-in, first-out method.TaxationThe charge for taxation is based on the results for the year after adjusting for items which are non-assessable or disallowed. Certain items of income and expense are recognised for tax purposes in a different accounting period from that in which they are recognised in the financial statements. The tax effect of the resulting timing differences, computed using the liability method, isrecognised as deferred taxation in the financial statements to the extent that it is probable that a liability or an asset will crystallise in the foreseeable future.ImpairmentAt each balance sheet date, the Group reviews the carrying amounts of its assets to determine whether there is any indication that those assets havesuffered an impairment loss. If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised as an expense immediately.3.SIGNIFICANT ACCOUNTING POLICIES – Continued Impairment – ContinuedWhere an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, so that the increased carrying amount does not exceed the carrying amount thatwould have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income immediately.Research and development costsResearch costs are charged to the income statement in the year in which they are incurred. Development costs are charged to the income statement in the year in which it is incurred except where a major project is undertaken and it is reasonably anticipated that development costs will be recovered through future commercial activity. Such development costs are deferred and written off over the life of the project from the date of commencement of commercial operation subject to a maximum of five years.Foreign currenciesTransactions in foreign currencies are translated at the approximate rates ruling on the dates of the transactions. Monetary assets and liabilitiesdenominated in foreign currencies are re-translated at the rates ruling on the balance sheet date. Gains and losses arising on exchange are dealt with in the income statement.In preparing the consolidated financial statements, the results of operations outside Hong Kong are translated using the average exchange rates for the year. The assets and liabilities of the operations outside Hong Kong aretranslated using the rates ruling on the balance sheet date. On consolidation,any differences arising on translation of operations outside Hong Kong are dealt with in the translation reserve.Retirement benefit costPayments to the Group’s defined contribution retirement benefit schemes are charged as expenses as they fall due.For the Group’s defined benefit retirement benefit schemes, the cost ofproviding benefits is determined using the projected unit credit method, with actuarial valuation being carried out at each balance sheet date. Actuarial gains and losses which exceed 10% of the greater of the present value of the Group’s pension obligations and the fair value of scheme assets are amortised over the expected average remaining working lives of the participatingemployees. Past service cost is recognised immediately to the extent that the benefits are already vested, and otherwise is amortised on a straight line basis over the average period until the amended benefits become vested.The amount recognised in the balance sheet represents the present value of the defined benefit obligation as adjusted for unrecognised actuarial gains and losses and unrecognised past service cost, and as reduced by the fair value of scheme assets.4.TURNOVER AND SEGMENT INFORMATIONTurnover represents the net amounts received and receivable for goods sold and services provided by the Group to outside customers and distributions received and receivable from the Group’s investments in e-commerce projects during the year.10%For the year ended 30 June 2003Notes to the Financial Statements4.TURNOVER AND SEGMENT INFORMATION – Continued (a)Business segmentsFor management purposes, the Group is currently organised into four main operating business – sales of general systems products, provision of services and software licensing, leasing of systems products andinvestments in e-commerce projects. These businesses are the basis on which the Group reports its primary segment information.Sales of Provision of Investmentsgeneral services and Leasing of insystems software systems e-commerceproducts licensingproducts projects ConsolidatedHK$’000HK$’000HK$’000HK$’000HK$’000Year ended 30 June 2003 TURNOVERExternal and total revenue 618,906171,98017,6096,240814,735RESULTS Segment result39,82672,40111,084(2,661)120,650Interest income3,875 Unallocated corporate expenses (177)Profit from operations124,348Gain on disposal of subsidiaries 156 Finance costs (13,493) Profit before taxation 111,011Taxation(661) Profit before minority interests 110,350Minority interests (10)Net profit for the year 110,340As at 30 June 2003ASSETSSegment assets282,322490,94613,038154,747941,053 Unallocated corporate assets 81,619 Consolidated total assets 1,022,672 LIABILITIESSegment liabilities104,08324,82411,866–140,773 Unallocated corporate liabilities 189,733 Consolidated total liabilities 330,506OTHER INFORMATIONCapital additions of property, plant and equipment3,7639381,287–5,988 Capital additions of deposits –39,000––39,000 Capital additions of systems and networks–78,000––78,000Depreciation and amortisation 19,39459,0325,98627,173111,585Gain on disposal of property, plant and equipment2–––2 Gain on disposal of interest in e-commerce projects–––33,72333,723 Impairment loss recognised forinterest in e-commerce projects–––15,34515,3454.TURNOVER AND SEGMENT INFORMATION – Continued (a)Business segments – ContinuedSales of Provision of Investmentsgeneral services and Leasing of insystems software systems e-commerceproductslicensingproductsprojects ConsolidatedHK$’000HK$’000HK$’000HK$’000HK$’000(restated)(restated)(restated)(restated)Year ended 30 June 2002 TURNOVERExternal and total revenue 632,38042,04841,8676,065722,360RESULTS Segment result53,925(13,684)(20,002)(9,807)10,432Interest income3,735 Unallocated corporate expenses (2,121) Profit from operations 12,046 Finance costs (14,552) Loss before taxation (2,506)Taxation(72) Net loss for the year (2,578)As at 30 June 2002ASSETSSegment assets236,875323,17043,345182,263785,653 Unallocated corporate assets 141,756 Consolidated total assets 927,409 LIABILITIESSegment liabilities88,59019,41630,30450138,360 Unallocated corporate liabilities 200,190 Consolidated total liabilities 338,550OTHER INFORMATIONCapital additions of property, plant and equipment7,4691,6382,472–11,579 Capital additions of deposits –83,797––83,797Depreciation and amortisation 22,82720,5616,25429,64479,286 Loss on disposal of property, plant and equipment––209–209 Impairment loss recognised for investments in securities –––3,8873,887 Gain on disposal of interest ine-commerce projects–––17,92217,922For the year ended 30 June 2003Notes to the Financial Statements4.TURNOVER AND SEGMENT INFORMATION – Continued(b)Geographical segments(i)The following table provides an analysis of the Group ’s revenue bygeographical market, irrespective of the origin of the goods/services:(i)Revenue byProfit (loss)geographical segmentfrom operationsYear ended 30 JuneYear ended 30 June2003200220032002HK$’000HK$’000HK$’000HK$’000(restated)People ’s Republic of China, including Hong Kong and Macau 526,450457,89572,24499,103 Europe 240,270222,36916,070(75,111) Others48,01542,09636,034(11,946) Consolidated total814,735722,360124,34812,046(ii)The following is an analysis of the carrying amount of segment assets,and capital additions to property, plant and equipment, systems and networks, and interest in e-commerce projects, analysed by the geographical location to which the assets are located:Carrying amount of segment assetsCapital additionsAt 30 JuneAt 30 June2003200220032002HK$’000HK$’000HK$’000HK$’000People ’s Republic of China, including Hong Kong and Macau 728,135595,82278,01083,819 Europe 141,293176,8624,58110,338 Others153,244154,72540,3971,219Consolidated total1,022,672927,409122,98895,376(ii)5.OTHER OPERATING INCOMEIncluded in other operating income is interest income of HK$3,875,000 (2002:HK$3,735,000).3,875,000 3,735,0006.PROFIT FROM OPERATIONS20032002HK$’000HK$’000(restated)Profit from operations has been arrived at after charging: Directors ’ remuneration (Note)1,8082,449Staff costs77,98487,954 Actuarial losses recognised–66,472 Retirement benefit scheme contribution 5,5043,845Total staff costs85,296160,720 Amortisation of investments in e-commerce projects 27,17329,644 Amortisation of systems and networks55,28116,554 Depreciation and amortisation of property, plant and equipmentOwned assets27,98532,093 Assets under finance leases 1,146995Total depreciation and amortisation111,58579,286Auditors ’ remuneration1,4871,704Cost of inventories recognised367,635469,827Loss on disposal of property, plant and equipment –209 Minimum lease payments paid under operating leases in respect of: Rented premises2,0542,127 Machinery and equipment 5,4516,191and after crediting:Rental income from leasing of machinery and equipment 17,60941,867Gain on disposal of property, plant and equipment2–Note:Information regarding directors ’ and employees ’ emoluments20032002HK$’000HK$’000DirectorsFees to independent non-executive directors 4044 Other emoluments to executive directors: Salaries and other benefits1,4081,802Retirement benefit scheme contribution3606031,8082,44938For the year ended 30 June 2003Notes to the Financial Statements6.PROFIT FROM OPERATIONS – ContinuedNote: – ContinuedInformation regarding directors ’ and employees ’ emoluments – Continued Emoluments of the directors were within the following bands:Number of director(s)200320021,000,000Nil – HK$1,000,000781,500,001 2,000,000 HK$1,500,001 – HK$2,000,0001–2,000,001 2,500,000HK$2,000,001 – HK$2,500,000–1EmployeesThe five highest paid individuals of the Group included one (2002: one) director of the Company, details of whose emoluments are set out above. The emoluments of theremaining four (2002: four) highest paid employees of the Group, not being directors of the Company, are as follows:20032002HK$’000HK$’000Salaries and other benefits4,0233,677 Performance related incentive payments 9390Retirement benefit scheme contribution 1672634,2834,0307.FINANCE COSTS20032002HK$’000HK$’000Interest onBank and other borrowings– wholly repayable within five years 13,09314,001 – not wholly repayable within five years 190227Finance charges on finance leases21032413,49314,552Emoluments of these employees were within the following band:Number of employee(s)200320021,000,000Nil – HK$1,000,000121,000,001 1,500,000HK$1,000,001 – HK$1,500,0003239Kantone Holdings Limited Annual Report 20038.TAXATION20032002HK$’000HK$’000The charge comprises:Hong Kong Profits Tax– current year36113 – underprovision in prior years 2–Taxation in other jurisdictions475(44)51369 29 Deferred taxation (note 29)148366172Hong Kong Profits Tax is calculated at 17.5% (2002: 16%) on the estimated assessable profits derived from Hong Kong. Taxation in other jurisdictions is calculated at the rates prevailing in the respective jurisdictions.The low effective tax rate is attributable to the fact that a substantial portion of the Group ’s profit neither arises in, nor is derived from, Hong Kong and is accordingly not subject to Hong Kong Profits Tax and such profit is also not subject to taxation in any other jurisdictions.Details of deferred taxation for the year are set out in note 29.9.DIVIDEND20032002HK$’000HK$’000Final dividend proposed in scrip form equivalent to0.60 HK0.60 cents (2002: nil) per share,with a cash option13,326–The proposed final dividend for 2003 is based on 2,220,961,752 shares in issue at 30 June 2003.10.EARNINGS (LOSS) PER SHAREThe calculation of the earnings (loss) per share is based on the net profit for the year of HK$110,340,000 (2002 (restated): net loss of HK$2,578,000) and on the weighted average of 2,220,961,752 (2002: 2,220,961,752) shares in issue throughout the year.The loss per share for the previous year has been adjusted to reflect the retrospective application of the changes in the Group ’s policy for retirement benefit costs.There was no dilution effect on earnings (loss) per share as there were no dilutive potential ordinary shares in issue in both years.17.5% 16%292,220,961,752110,340,000 2,578,000 2,220,961,752 2,220,961,75240For the year ended 30 June 2003Notes to the Financial Statements11.PROPERTY, PLANT AND EQUIPMENTPlant andmachinery and tele-Land and communicationsTHE GROUPbuildingsnetworksTotalHK$’000HK$’000HK$’000COSTAt 1 July 200218,874293,511312,385 Currency realignment 1,50124,56426,065 Additions –5,9885,988Disposals –(9,275)(9,275) At 30 June 200320,375314,788335,163DEPRECIATION AND AMORTISATION At 1 July 20023,847232,708236,555 Currency realignment 30819,35719,665 Provided for the year 38928,74229,131Eliminated on disposals –(9,029)(9,029) At 30 June 20034,544271,778276,322NET BOOK VALUES At 30 June 200315,83143,01058,841At 30 June 200215,02760,80375,830THE GROUP20032002HK$’000HK$’000The net book values of the Group ’s property interests comprise: Freehold properties held outside Hong Kong 14,67113,917Properties held outside Hong Kong under long leases1,1601,11015,83115,027Net book value of plant and machinery andtelecommunications networks held under finance leases 1,0211,978The Group leases equipment to customers on operating lease terms. The net book value of such equipment, which is included in plant and machinery and telecommunications networks, is as follows: Customer equipment at cost 112,91799,035 Less: Accumulated depreciation 100,72980,893Net book value12,18818,142At 30 June 2003, certain land and buildings of the Group with a net book value of HK$9,524,000 (2002: HK$8,952,000) were pledged to a bank as security for banking facilities granted to the Group.9,524,000 8,952,00041Kantone Holdings Limited Annual Report 200312.INVESTMENTS IN SUBSIDIARIESTHE COMPANY20032002HK$’000HK$’000Unlisted shares, at carrying value232,890232,890The carrying value of the unlisted shares is based on the book values of the underlying net assets of the subsidiaries at the time they became members of the Group under the group reorganisation in 1996.Details of the Company ’s principal subsidiaries at 30 June 2003 are set out in note 40.13.AMOUNTS DUE FROM (TO) SUBSIDIARIESThe CompanyThe amounts are unsecured, interest-free and have no fixed repayment terms.Included in amounts due from subsidiaries at 30 June 2003 is an amount of approximately HK$13,785,000 (2002: HK$6,371,000) which is subordinated to a bank which granted credit facilities of approximately HK$80,423,000 (2002:HK$68,480,000) to a subsidiary during the year.14.SYSTEMS AND NETWORKSTHE GROUP20032002HK$’000HK$’000COSTAt beginning of the year 176,32846,500Acquired during the year 78,000–Transferred from deposits 162,692129,828 At end of the year 417,020176,328 AMORTISATIONAt beginning of the year 16,554– Provided for the year 55,28116,554 At end of the year 71,83516,554 NET BOOK VALUEAt end of the year345,185159,774Systems and networks include all direct costs incurred in setting up anddevelopment of internet based knowledge systems and networks. The Group ’s systems and networks are amortised over the estimated economic lives of the projects from the date of commencement of commercial operations subject to a maximum of five years.4013,785,000 6,371,000 80,423,000 68,480,000。
企业财务报表格式
企业财务报表是用于展示企业财务状况和经营绩效的重要工具。以下是常见的企业财务报 表格式：
1. 资产负债表（Balance Sheet）： - 列出企业在特定日期的资产、负债和所有者权益。 - 通常按照以下格式排列： - 资产：流动资产、非流动资产 - 负债和所有者权益：流动负债、非流动负债、所有者权益
企业财务报表格式
2. 损益表（Income Statement）： - 显示企业在一定期间内的收入、成本和利润。 - 通常按照以下格式排列： - 收入：销售收入、其他收入 - 成本：销售成本、运营成本、其他成本 - 利润：毛利润、运营利润、税前利润、净利润
3. 现金流量表（Cash Flow Statement）： - 揭示企业在一定期间内的现金流入和流出情况。 - 通常按照以下务报表格式
- 投资活动现金流量 - 筹资活动现金流量 - 现金净增加额 4. 股东权益变动表（Statement of Changes in Equity）： - 展示企业在一定期间内股东权益的变动情况。 - 通常按照以下格式排列： - 资本公积 - 盈余公积 - 未分配利润 - 所有者权益总额
需要注意的是，财务报表的具体格式和要求可能会因国家、地区和行业的不同而有所差异 。为确保报表的准确性和合规性，建议参考当地的会计准则和法规，以及相关的会计和财务 报告准则。
企业财务报表格式
此外，根据企业的需要和报告的目的，还可以有其他类型的财务报表，如： - 综合收入表（Statement of Comprehensive Income）：展示企业在一定期间内的综 合收入情况。 - 附注（Notes to Financial Statements）：提供对财务报表中各项数据的详细解释和补 充信息。
财务报表有哪些组成内容？
编辑：她是小冉一套完整的财务报表包括资产负债表、利润表、现金流量表、所有者权益变动表（或股东权益变动表）和财务报表附注。
1、资产负债表（Balance Sheet）它反映企业资产、负债及资本的期未状况。
长期偿债能力，短期偿债能力和利润分配能力等。
2、利润表（或称损益表）（Income Statement/Profit and Loss Account）它反映本期企业收入、费用和应该记入当期利润的利得和损失的金额和结构情况。
3、现金流量表（Cash Flow Statement）它反映企业现金流量的来龙去脉，当中分为经营活动、投资活动及筹资活动三部份。
4、所有者权益变动表（Statement of change in equity）它反映本期企业所有者权益（股东权益）总量的增减变动情况还包括结构变动的情况，特别是要反映直接记入所有者权益的利得和损失。
5、财务报表附注（Notes to financial statements）一般包括如下项目（1）企业的基本情况；（2）财务报表编制基础；（3）遵循企业会计准则的声明；（4）重要会计政策和会计估计；（5）会计政策和会计估计变更及差错更正的说明；（6）重要报表项目的说明；（7）其他需要说明的重要事项，如或有和承诺事项、资产负债表日后非调整事项，关联方关系及其交易等。
在财务报表中，如果附有会计师事务所的审计报告，它可信性将会更高。
所以在周年股东大会上，财务报表一般要附有审计报告。
在上市公司中的公司年报，按上市规则，除了财务报，还有公司主席业务报告、企业管治报告等多份非会计文件。
不过，股民最关心的，还是公司年报内的派息建议，及分析财务报表上的赢利率。
2024年财务报表职责内容
2024年财务报表职责内容____年财务报表职责内容需要根据未来的情况进行预测和假设。
以下是可能包含在____年财务报表中的职责内容：一、资产负债表（Balance Sheet）：1. 确定和记录企业在____年年底的资产和负债情况，包括现金、应收账款、存货、固定资产、长期资产、应付账款、负债等。
2. 进行资产和负债的分类和调整，确保财务报表的准确性和完整性。
3. 为投资者和利益相关方提供企业在____年年底的财务状况，形成有效的决策依据。
二、利润表（Income Statement）：1. 收集和整理企业在____年的收入和费用数据，包括销售收入、成本费用、营业利润、税前利润和净利润等。
2. 进行收入和费用的分类和计算，确定各项指标的金额和比例。
3. 分析和解释企业在____年的盈利状况，为投资者和利益相关方提供准确的利润信息。
三、现金流量表（Cash Flow Statement）：1. 收集和整理企业在____年的现金流量数据，包括经营活动、投资活动和筹资活动的现金流入和流出情况。
2. 进行现金流量的分类和计算，确定经营活动、投资活动和筹资活动的净现金流量。
3. 分析和解释企业____年的现金流量状况，为投资者和利益相关方提供准确的现金流量信息。
四、股东权益变动表（Statement of Changes in Equity）：1. 收集和整理企业在____年的所有者权益变动数据，包括股东投资、盈余积累和其他权益变动等。
2. 进行股东权益的分类和计算，确定各项指标的金额和比例。
3. 分析和解释企业在____年的股东权益变动情况，为投资者和利益相关方提供准确的股东权益信息。
五、附注（Notes to the Financial Statements）：1. 提供对财务报表中各项数据和指标的解释和说明，包括会计政策、重要会计估计、不确定性和后续事件等。
2. 揭示与财务报表相关的重要事项和风险，提供投资者和利益相关方全面了解企业财务状况的必要信息。
财务会计报表中英文对照
•会计报表中英文对照Accounting1. Financial reporting（财务报告） includes not only financial statements but also other means of communicating information that relates, directly or indirectly, to the information provided by a business enterprise’s accounting system----that is, information about an enterprise’s resources, obligations, earnings, etc.2. Objectives of financial reporting: 财务报告的目标Financial reporting should:(1) Provide information that helps in making investment and credit decisions.(2) Provide information that enables assessing future cash flows.(3) Provide information that enables users to learn about economic resources, claims against those resources, and changes in them.3. Basic accounting assumptions 基本会计假设(1) Economic entity assumption 会计主体假设This assumption simply says that the business and the owner of the business are two separate legal and economic entities. Each entity should account and report its own financial activities.(2) Going concern assumption 持续经营假设This assumption states that the enterprise will continue in operation long enough to carry out its existing objectives.This assumption enables accountants to make estimates about asset lives and how transactions might be amortized over time.This assumption enables an accountant to use accrual accounting which records accrual and deferral entries as of each balance sheet date.(3) Time period assumption 会计分期假设This assumption assumes that the economic life of a business can be divided into artificial time periods.The most typical time segment = Calendar YearNext most typical time segment = Fiscal Year(4) Monetary unit assumption 货币计量假设This assumption states that only transaction data that can be expressed in terms of money be included in the accounting records, and the unit of measure remains relatively constant over time in terms of purchasing power.In essence, this assumption disregards the effects of inflation or deflation in the economy in which the entity operates.This assumption provides support for the "Historical Cost" principle.4. Accrual-basis accounting 权责发生制会计5. Qualitative characteristics 会计信息质量特征(1) Reliability 可靠性For accounting information to be reliable, it must be dependable and trustworthy. Accounting information is reliable to the extend that it is:Verifiable: means that information has been objectively determined, arrived at, or created. More than one person could consider the facts of a situation and reach a similar conclusion.Representationally faithful: that something is what it is represented to be. For example, if a machine is listed as a fixed asset on the balance sheet, then the company can prove that the machine exists, is owned by the company, is in working condition, and is currently being used to support the revenue generating activities of the company.Neutral: means that information is presented in accordance with generally accepted accounting principles and practices, and without bias.(2) Relevance 相关性Relevant information is capable of making a difference in the decisions of users by helping them to evaluate the potential effects of past, present, or future transactions or other events on future cash flows (predictive value) or to confirm or correct their previous evaluations (confirmatory value).(3) Understandability 可理解性Understandability is the quality of information that enables users who have a reasonable knowledge of business and economic activities and financial reporting, and who study the information with reasonable diligence, to comprehend its meaning.(4) Comparability 可比性Comparability: suggests that accounting information that has been measured and reported in a similar manner by different enterprises should be capable of being compared because each of the enterprises is applying the same generally accepted accounting principles and practices.Consistency: suggests that an entity has used the same accounting principle or practice from one period to another, therefore, if the dollar amount reported for a category is different from one period to the next, then chances are that the difference is due to a change like an increase or decrease in sales volume rather than being due to a change in the method of calculating the dollar amount.(5) Substance over form 实质重于形式Substance over form emphasizes the economic substance of an event even though its legal form may provide a different result.It requires that business enterprise should perform accounting recognition, measurement and reporting in accordance with the economic substance rather than the legal form of an event or transaction.(6) Materiality 重要性Information is material if its omission or misstatement could influence the resource allocation decisions that users make on the basis of an entity’s financial report. Materiality depends on the nature and amount of the item judged in the particular circumstances of its omission or misstatement. Deciding when an amount is material in relation to other amounts is a matter of judgment and professional expertise.(7) Conservatism 谨慎性Conservatism dictates that when in doubt, choose the method that will be least likely to overstate assets and income, and understate liabilities and expenses.(8) Timeliness 及时性Timeliness means having information available to decision makers before it loses its capacity to influence decisions. If information becomes available only after the time that a decision must be made, it has no capacity to influence that decision and thus lacks relevance.6. Basic accounting elements 基本会计要素(1) Asset 资产An asset is a resource that is owned or controlled by an enterprise as a result of past transactions or events and is expected to generate economic benefits to the enterprise.(2) Liability 负债A liability is a present obligation arising from past transactions or events which areexpected to give rise to an outflow of economic benefits from the enterprise.A present obligation is a duty committed by the enterprise under current circumstances. Obligations that will result from the occurrence of future transactions or events are not present obligations and shall not be recognized as liabilities.(3) owners’ equity 所有者权益Owners’ equity is the residual interest in the assets of an enterprise after deducting all its liabilities.Owners’ equity of a company is also known as shareholders’ equity.(4) Revenue 收入Revenue is the gross inflow of economic benefits derived from the course of ordinary activities that result in increases in equity, other than those relating to contributions from owners.(5) Expense 费用Expenses are the gross outflow of economic benefits resulted from the course of ordinary activities that result in decreases in owners’ equity, other than those relating to appropriations of profits to owners.(6) Profit 利润Profit is the operating result of an enterprise over a specific accounting period. Profit includes the net amount of revenue after deducting expenses, gains and losses directly recognized in profit of the current period, etc.7. Five measurement attributes 会计计量属性(1) Historical cost 历史成本Assets are recorded at the amount of cash or cash equivalents paid or the fair value of the consideration given to acquire them at the time of their acquisition. Liabilities are recorded at the amount of proceeds or assets received in exchange for the present obligation, or the amount payable under contract for assuming the present obligation, or at the amount of cash or cash equivalents expected to be paid to satisfy the liability in the normal course of business.(2) Current replacement cost 现时重置成本Assets are carried at the amount of cash or cash equivalents that would have to be paid if a same or similar asset was acquired currently. Liabilities are carried at the amount of cash or cash equivalents that would be currently required to settle the obligation.(3) Net realizable value 可实现净值Assets are carried at the amount of cash or cash equivalents that could be obtained by selling the asset in the ordinary course of business, less the estimated costs of completion, the estimated selling costs and related tax payments.(4) Present value 现值Assets are carried at the present discounted value of the future net cash inflows that the item is expected to generate from its continuing use and ultimate disposal. Liabilities are carried at the present discounted value of the future net cash outflows that are expected to be required to settle the liabilities within the expected settlement period.(5) Fair value 公允价值Assets and liabilities are carried at the amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm’s length transaction.8. Financial statements 财务报表(1) Balance sheet 资产负债表A balance sheet is an accounting statement that reflects the financial position of an enterprise at a specific date.(2) Income statement 损益表An income statement is an accounting statement that reflects the operating results of an enterprise for a certain accounting period.(3) Statement of cash flows 现金流量表A cash flow statement is an accounting statement that reflects the inflows and outflows of cash and cash equivalents of an enterprise for a certain accounting period.(4) Statement of changes in owners’equity 所有者权益变动表A statement of changes in owners’ equity reports the changes in owners’ equity fora specific period of time.(5) Notes to financial statements 财务报表附注Notes to the accounting statements are further explanations of items presented in the accounting statements, and explanations of items not presented in the accounting statements, etc.9. Accounting entry 会计分录Debit: CashCredit: Common Stock10. Basic accounting equation 基本会计等式Assets = Liabilities + owners’ equity11. List of present and potential users of financial information 财务信息的使用者investors, creditors, employees, suppliers, customers, and governmental agencies.Definitions of Four Categories of Financial AssetsA financial asset or liability held for trading is one that was acquired or incurred principally for the purpose of generating a profit from short-term fluctuations in price or dealers margin. A financial asset should be classified as held for trading if, regardless of why it was acquired, it is part of a portfolio for which there is evidence of a recent actual pattern of short-termprofit-taking. Derivative financial assets and derivative financial liabilities are always deemed held for trading unless they are designated and effective hedging instruments.Held-to-maturity investments are financial assets with fixed or determinable payments and fixed maturity that an enterprise has the positive intent and ability to hold to maturity other than loans and receivables originated by the enterprise.四类金融资产的定义为交易而持有的金融资产或金融负债,指主要为了从价格或交易商保证金的短期波动中获利而购置的金融资产或承担的金融负债。
consist of造句
作文体育运动的乐趣
嘿!你们好啊,我是个体育迷,超~级喜欢运动的小伙子。
从小就对各种运动项目有着浓厚的兴趣,无论是球类运动还是田径项目,只要一提到运动我就来劲!今天,就让我和你们聊聊运动给我带来的乐趣吧。
首先啊,运动让我有了一身好体格。
作为一个00后小朋友,我们这代人从小就面临着肥胖、近视眼等健康隐患。
可是自从我迷上了运动,这些问题对我来说就是小!跑步、打球、做操,我样样都来,身体素质直线上升,体能棒棒哒。
朋友们常说我阳光运动的样子超级有小伙子范儿,哈哈,我可是运动健将呢!
运动让我结交了不少好哥们。
在操场上你总能遇到一些和你一起奋战的小伙伴,大伙儿相见恨晚,很快就能打成一片。
说实话,我的很多好朋友就是通过运动项目结识的,我们之间有着一种特殊的默契和友谊,这可是无论如何也体会不到的。
只有和小伙伴们一起挥洒汗水,并肩作战,才能培养出这份纯粹的感情。
最重要的是,运动给了我快乐和成就感。
你们应该也有这种体会吧?每当在赛场上一口气超越对手,或者终于攻克一个长期纠结的动作,内心就会涌起满满的幸福感。
这种由内而外的喜悦,可不是其他任何事物能带给我的。
更何况,只要在运动时全力以赴,哪怕输了比赛,心里也会觉得值了!至少,我全程发挥了水平,一分耕耘,一分收获嘛。
所以说,运动不仅让我保持了健康的体魄,还结交了很多知心好友,更重
要的是让我感受到了前所未有的快乐和成就感。
你们应该也能体会到吧?如果你们还没有体验过运动的乐趣,赶紧行动起来吧,保证你们会上瘾的!希望大伙儿都能像我一样,热爱运动,拥抱积极阳光的生活!。
年度财务报表范本大全-概述说明以及解释
年度财务报表范本大全-范文模板及概述示例1:标题：年度财务报表范本大全引言：财务报表是一种记录和展示企业财务状况的重要工具。
年度财务报表的编制十分关键，对于企业与利益相关者都具有重要意义。
但对于很多企业来说，编制年度财务报表可能会面临一些困难和挑战。
在本文中，我们将为您提供一个年度财务报表范本大全，希望能够为您提供一些启示和参考。
一、资产负债表（Balance Sheet）范本：资产负债表是反映企业在特定日期上的财务状况的报表。
它包括了企业的资产、负债和所有者权益等重要信息。
以下是一个常见的资产负债表范本，以供参考：资产- 流动资产- 长期资产- 固定资产- 其他资产负债- 流动负债- 长期负债- 其他负债所有者权益- 股本- 资本公积- 盈余公积- 未分配利润二、利润表（Income Statement）范本：利润表是展示企业在特定时期内收入和费用情况的报表。
它反映了企业的盈利状况和经营绩效。
以下是一个常见的利润表范本，供您参考：收入- 销售收入- 其他收入成本与费用- 销售成本- 管理费用- 财务费用- 税费净利润（或净亏损）三、现金流量表（Cash Flow Statement）范本：现金流量表是展示企业特定时期内现金流动情况的报表。
它反映了企业的现金收入和现金支出状况，帮助评估企业的现金流量状况和经营能力。
以下是一个常见的现金流量表范本，供您参考：经营活动产生的现金流量- 销售收入- 购买原材料支付的现金- 工资支付的现金- 利息支付的现金- 税费支付的现金- 其他经营活动产生的现金流量投资活动产生的现金流量- 购买长期资产支付的现金- 出售长期资产收到的现金融资活动产生的现金流量- 借款收到的现金- 股本增资收到的现金- 偿还借款支付的现金现金净增加（或减少）结论：企业编制年度财务报表是确保财务透明度和提供决策依据的重要步骤。
通过使用上述提供的范本，企业可以更加便捷地编制年度财务报表，并且确保报表的准确性和规范性。
财务报告及其披露词汇翻译
财务报告及其披露词汇翻译1. Financial report - 财务报告2. Statement of financial position - 资产负债表4. Cash flow statement - 现金流量表5. Notes to the financial statements - 财务报表附注6. Auditor's report - 审计师报告7. Balance sheet - 资产负债表8. Profit and loss statement - 损益表10. Gross margin - 毛利率12. Earnings per share - 每股收益13. Dividends - 股息14. Equity - 资本15. Liabilities - 负债16. Cash and cash equivalents - 现金及现金等价物17. Accounts receivable - 应收账款18. Intangible assets - 无形资产19. Depreciation - 折旧20. Amortization - 摊销21. Contingent liabilities - 或有负债22. Related parties - 关联方23. Fair value - 公允价值24. Working capital - 营运资金25. Non-current liabilities - 非流动负债26. Provision - 准备金27. Shareholders' equity - 股东权益28. Cash ratio - 现金比率29. Return on investment - 投资回报率30. Earnings before interest and taxes (EBIT) - 税前利润注意：以上词汇仅为参考，具体翻译需根据上下文和财务报告的具体要求进行调整。
外资公司财报审计报告及附注模板(中英文对照参考版)
XX有限公司XX Company Limited 审计报告Auditors' Report XX审字[201X]第X-XXXXX号XX SHEN ZI [201X] No. X-XXXXX审计报告Auditors' ReportXX审字[201X]第X-XXX号XX SHEN ZI [201X] No. X-XXXXX XX有限公司全体股东：To the Shareholders of XX Co., Ltd:我们审计了后附的XXX有限公司（以下简称“贵公司”）财务报表，包括20X5年XX月XX日（母公司）【在公司有子公司但未编制合并报表时，应明确是“母公司”的单体财务报表而非合并财务报表】的资产负债表，20X5年度的利润表、现金流量表、股东权益变动表，以及财务报表附注。
We have audited the accompanying financial statements of XX Co., Ltd (hereafter referred to as “the Company”), which comprise the balance sheet as at December 31, 20X5, the statement of income, statement of cash flows and statement of changes in equity for the year then ended, and notes to the financial statements.【在公司有子公司但未编制合并报表时，英文报告审计范围描述应如下】We have audited the accompanying financial statements of XX Co., Ltd (hereafter referred to as “the Company”), which comprise the Company's balance sheet as at December 31, 20X5, statement of income, statement of cash flows and statement of changes in equity for the year then ended, and notes to the financial statements.一、管理层对财务报表的责任编制和公允列报财务报表是贵公司管理层的责任，这种责任包括：（1）按照企业会计准则的规定编制财务报表，并使其实现公允反映；（2）设计、执行和维护必要的内部控制，以使财务报表不存在由于舞弊或错误导致的重大错报。
上市公司年报体系解读
上市公司年报是一份重要的财务文件，提供了有关公司在过去一年内的财务状况、经营绩效和未来计划的详细信息。
解读上市公司年报可以帮助投资者、分析师、监管机构和其他利益相关者了解公司的经营情况和风险。
以下是解读上市公司年报的一般体系：1. **公司概况（Company Overview）：** 年报通常以公司概况开始，其中包括公司的基本信息，如名称、注册地、主要经营领域、公司历史和管理团队的介绍。
这一部分可以帮助读者了解公司的背景和经营范围。
2. **业绩亮点（Highlights）：** 公司通常会在年报中强调一些关键的业绩亮点，如销售增长、利润率改善、市场份额提升等。
这些亮点提供了一个快速了解公司过去一年的综合表现的概览。
3. **管理层讨论与分析（Management Discussion and Analysis，MD&A）：** MD&A 部分是年报中的重要组成部分，提供了管理层对公司财务状况、业务运营和未来展望的解释和分析。
这是投资者和分析师深入了解公司战略、风险和机会的关键资源。
4. **财务报表（Financial Statements）：** 年报包括财务报表，如资产负债表、损益表和现金流量表。
这些报表提供了公司财务状况和经营绩效的详细数据，包括收入、成本、债务、现金流等。
5. **附注（Notes to the Financial Statements）：** 财务报表的附注部分提供了对财务数据的详细解释和注释，包括会计政策、重要的会计估计和其他财务信息的背景说明。
6. **审计报告（Audit Report）：** 年报包括由独立注册会计师事务所出具的审计报告，确认财务报表的合规性和可靠性。
审计报告通常包括意见，例如“无保留意见”或“保留意见”，以反映审计的结果。
7. **风险因素（Risk Factors）：** 公司通常会在年报中列出可能影响其未来业务和财务状况的风险因素。
综合财务报表附注Notes to the Consolidated Financial Statements
3 3
3 1,277,000
2,419,000 18
46
ANNUAL REPORT 2005
Notes to the Consolidated Financial Statements
For the year ended 31st December, 2005
3.
3.
A P P L I C AT I O N O F H O N G K O N G F I N A N C I A L REPORTING STANDARDS/CHANGES IN ACCOUNTING POLICIES (Continued)
ANNUAL REPORT 2005
Notes to the Consolidated Financial Statements
For the year ended 31st December, 2005
1.
1.
GENERAL
The Company is an exempted company with limited liability incorporated in Bermuda under The Companies Act 1981 of Bermuda (as amended). The shares of the Company are listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”). Its ultimate holding company is Future 2000 Limited, a company incorporated in the British Virgin Islands. The addresses of the registered office and principal place of business of the Company are disclosed in the introduction to the annual report. The consolidated financial statements are presented in Hong Kong dollars (“HK$”), which is the same as the functional currency of the Company. The Company is an investment holding company. The principal activities of its subsidiaries are the distribution and trading of mobile phones and related accessories, computer products and the development of marketing and after-sales service network.
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80
TINGYI (CAYMAN ISLANDS) HOLDING CORP.
Group 2004 US$’000 Total amount of expense recognised in the consolidated income statement: Current service cost Interest cost Net actuarial losses recognised Net expense included in administrative expenses for the year 1,149 743 1,009 138 2 636 107 — 2003 US$’000
For the year ended 31 December 2004
Notes to the Financial Statements
24.
24. Employee Benefit Obligations (Continued)
Group and Company 2004 US$’000 Present value of unfunded obligations 4,887 2004 US$’000 Movement in the defined benefit obligations recognised in the balance sheets: At beginning of year Net expense for the year Contributions paid At balance sheet date 3,808 1,149 (70) 4,887 3,065 743 — 3,808 2003 US$’000 3,808 2003 US$’000
US$’000 332,478 — — — — 332,478
US$’000 468 292 — — — 760
US$’000 57,169 — 9,791 — — 66,960
US$’000 308 — — — — 308
US$’000 — — — — — —
US$’000 168,952 — (9,791) 35,816 (51,975) 143,002
26.
26. Issued Capital
2004 No. of shares Authorised: Ordinary shares of US$0.005 each Issued and fully paid: Ordinary shares of US$0.005 each US$’000 No. of shares 2003 US$’000
Group and Company 2004 % Discount rate Expected rate of salary increases 3.25 3.00 2003 % 3.50 2.00
25.
25. Deferred Taxation
Recognised deferred tax assets (liabilities) 2004 Liabilities US$’000 2003 Assets US$’000 Liabilities US$’000
US$’000 559,411 292 — 35,816 (51,975) 543,544 83 63,152 480,392 543,544
ANNUAL REPORT 2004
At 1 January 2004
36
332,478 — — — — — 332,478
760 144 — — — — 904
81
— 3,128 2,594 1,255 1,356 4,028 12,361 (6,164) 6,197
(9,420) — — — — (2,920) (12,340) 6,164 (6,176)
— 3,416 955 1,114 1,324 2,512 9,321 (3,491) 5,830
(7,687) — — — — (1,638) (9,325) 3,491 (5,834)
10%
respective statutor y financial statements of the PRC subsidiaries prepared in accordance with PRC accounting regulations). If the accumulated total of the general reserve reaches 50% of the registered capital of the respective PRC subsidiaries, the enterprise will not be required to make any fur ther appropriation. Property revaluation reserve The property revaluation reserve is not distributable to shareholders until they are realised.
66,960 — 6,719 — — — 73,679
308 — — — — — 308
— — — 3,535 — — 3,535
143,002 — (6,719) — 286,429 (63,152) 359,560
543,544 144 — 3,535 286,429 (63,152) 770,500
Exchange translation difference — Transfer to general reserve — Share of reserve movement of an associate Profit for 2004 2003 final dividend paid At 31 December 2004 Representing: 2004 final dividend proposed Reserves — — — 36
ANNUAL REPORT 2004
For the year ended 31 December 2004
Notes to the Financial Statements
25.
65,755,000 36,712,000
25. Deferred Taxation (Continued)
The Group has not recognised deferred tax assets in respect of tax losses of US$65,755,000 (2003: US$36,712,000). The tax losses will expire if they are not utilised to set off against the income in the next five years under the current tax legislation.
63,712 706,788 770,500 The retained profits of the Group include losses of US$1,344,000 (2003: profits of US$4,078,000) accumulated by associates of the Group.
1,344,000 4,078,000
For the year ended 31 December 2004
Notes to the Financial Statements
27.
27. Reserves (Continued)
Note: Share premium The application of the share premium account is governed by the Companies Law of the Cayman Islands. Exchange translation reserve and capital reserve The exchange translation reserve and capital reserve have been set up and are dealt with in accordance with the accounting policies adopted for foreign currency translation. Capital redemption reserve Capital redemption reserve has been set up in accordance with the provisions of the Companies Law of the Cayman Islands on repurchases and cancellations of the Company’s own shares.
Assets US$’000 Accelerated depreciation allowance Decelerated depreciation allowance Impairment losses Provisions Tax losses Others Deferred tax assets (liabilities) Offset deferred tax assets (liabilities) Net tax assets (liabilities)
Notes to the Financial Statements
27.
(a)
27. Reserves
(a) Group
Capital redemption reserve premium
Exchange Share translation reserve General reserve reserve
84
TINGYI (CAYMAN ISLANDS) HOLDING CORP.