Financial Analysis in Hong Kong: Qualitative Examination of Financial Statements (2nd edition) for CEOs and Board Members

Appendix V. Extracts from Audited Financial Statements of Five Listed Corporations

Appendix V Extracts from Audited Financial Statements of Five Listed Corporations The financial statements in this Appendix are extracted from annual reports of the following listed corporations with their permission: • AAC Technologies Holdings Inc. (pages 222–227) • CMMB Vision Holdings Limited (pages 228–234) • Ka Shui International Holdings Limited (pages 235–241) • Neo-Neon Holdings Limited (pages 242–247) • One Media Group Limited (pages 248–254) 222 Appendix V CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended 31st December, 2011 NOTES 2011 RMB’000 2010 RMB’000 Revenue 4,059,687 3,349,020 Cost of goods sold (2,275,273) (1,838,655) Gross profit 1,784,414 1,510,365 Other income 66,828 46,744 Net fair value loss on foreign currency forward contracts (3,829) (611) Gain on deregistration of a subsidiary – 583 Distribution and selling expenses (136,875) (110,023) Administrative expenses (153,482) (126,886) Research and development costs (358,238) (213,636) Share of results of associates (19,154) 810 Exchange loss (32,592) (4,936) Finance costs 7 (5,513) (3,272) Profit before taxation 8 1,141,559 1,099,138 Taxation 10 (108,626) (111,661) Profit for the year 1,032,933 987,477 Other comprehensive expense: Exchange differences arising from translation (20,035) (28,854) Exchange difference released on deregistration of a subsidiary – (583) Other comprehensive expense (20,035) (29,437) Total comprehensive income for the year 1,012,898 958,040 Profit for the year attributable to: Owners of the Company 1,036,192 986,730 Non-controlling interests (3,259) 747 1,032,933 987,477 Total comprehensive income and expense attributable to: Owners of the Company 1,017,289 957,205 Non-controlling interests (4,391) 835 1,012,898 958,040 Earnings per share – Basic 12 RMB84.38 cents RMB80.35 cents Appendix V 223 CONSOLIDATED STATEMENT OF FINANCIAL POSITION At 31st December, 2011 NOTES 2011 RMB’000 2010 RMB’000 Non-current assets Property, plant and equipment 13 2,697,120 1,751,559 Goodwill 14 11,803 6,753 Prepaid lease payments 15 109,290 98,278 Deposits made on acquisition of property, plant and equipment 123,428 153,367 Deposits paid for additional interests in an associate – 26,417 Available-for-sale investment 16 3,254 – Interests in associates 17 181,882 103,749 Intangible assets 18 162,144 41,325 3,288,921 2,181,448 Current assets Inventories 19 558,780 342,943 Trade and other receivables 20 1,487,575 1,292,678 Amounts due from related companies 21 – 173 Foreign currency forward contracts 22 1,139 585 Taxation recoverable 2,868 3,348 Pledged bank deposits 23 874 28,035 Bank balances and cash 23 1,374,069 1,734,609 3,425,305 3,402,371 Current liabilities Trade and other payables 24 898,742 857,391 Amounts due to related companies 21 19,656 16,423 Taxation payable 77,475 54,597 Foreign currency forward contracts 22 65 9,231 Short-term bank loans 25 891,128 470,286 1,887,066 1,407,928 Net current assets 1,538,239 1,994,443 Total assets less current liabilities 4,827,160 4,175,891 Non-current liabilities Deferred tax liabilities 26 15,738 – 4,811,422 4,175,891 224 Appendix V CONSOLIDATED STATEMENT OF FINANCIAL POSITION At 31st December, 2011 NOTES 2011 RMB’000 2010 RMB’000 Capital and reserves Share capital 27 99,718 99,718 Reserves 4,650,352 4,074,827 Equity attributable to owners of the Company 4,750,070 4,174,545 Non-controlling interests 61,352 1,346 Total equity 4,811,422 4,175,891 Approved by the Board of Directors Appendix V 225 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY For the year ended 31st December, 2011 Share capital RMB’000 Share premium RMB’000 Special reserve RMB’000 Capital reserve RMB’000 Translation reserve RMB’000 Nondistributable reserve RMB’000 PRC statutory reserves RMB’000 Retained profits RMB’000 Attributable to owners of the Company RMB’000 Noncontrolling interests RMB’000 Total RMB’000 At 1st January, 2010 99,718 746,957 (7,469) 23,391 (18,591) 87,245 163,693 2,439,432 3,534,376 381 3,534,757 Exchange differences arising from translation of financial statements of foreign operations – – – – (28,942) – – – (28,942) 88 (28,854) Reserve released...