Vision - Alibaba

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130 Annual Report 2007 Notes to the Financial Statements 22 SHARE CAPITAL AND SHARE PREMIUM (Continued) (a) The Company was incorporated in the Cayman Islands on September 20, 2006 with an authorized share capital of US$50,000 divided into 50,000 ordinary shares of US$1.00 each. On the same date, the Company issued and allotted one ordinary share, credited as fully paid at par, to the ultimate holding company. (b) On October 12, 2007, the ultimate holding company passed a resolution to approve various matters as follows: (i) change the denomination of the par value of the Company’s ordinary shares from United States dollars (“US$”) to Hong Kong dollars (“HK$”); (ii) increase the Company’s authorized capital by HK$800,000 divided into 8,000,000,000 ordinary shares of par value of HK$0.0001 each; (iii) repurchase by the Company at par of the one issued ordinary share with par value of US$1.00; (iv) reduce the authorized share capital of the Company by US$50,000 by cancelling 50,000 authorized but unissued shares of US$1.00 par value each; and (v) increase the Company’s issued capital by HK$482,500 divided into 4,825,000,000 ordinary shares of par value of HK$0.0001 each. (c) On November 6, 2007, the Company issued 227,356,500 ordinary shares of par value of HK$0.0001 each pursuant to the Global Offering as disclosed in Note 1. (d) As of December 31, 2007, total issued and fully paid share capital amounted to HK$505,236, which was divided into 5,052,356,500 ordinary shares of par value of HK$0.0001 each. 23 CAPITAL RESERVE (a) Capital reserve as of December 31, 2006 The Company was incorporated during the year ended December 31, 2006 and the Reorganization was not completed prior to December 31, 2006. For the purpose of the consolidated fi nancial statements, the capital reserve in the consolidated balance sheet as of December 31, 2006 represented the consolidated share capital and share premium of the companies comprising the Group. (b) Capital reserve as of December 31, 2007 Capital reserve as of December 31, 2007 primarily represented the difference between (i) the aggregate of the consideration for the acquisitions under common control upon the Reorganization as detailed in Note 1.1; and (ii) the aggregate of the share capital and share premium (including sharebased compensation expense credited to the share premium account prior to the Reorganization) of the entities transferred to the Group pursuant to the Reorganization. (c) Deemed distribution to equity owners Deemed distributions to equity owners represented the amounts paid by the Group to <strong>Alibaba</strong> Group in exchange for the interests in subsidiaries and assets and liabilities related to the B2B services transferred to the Group pursuant to the Reorganization (Note 1.1).
24 EQUITY — COMPANY Notes to the Financial Statements Share capital Share premium Retained earnings/ (Accumulated defi cit) Total RMB’000 RMB’000 RMB’000 RMB’000 Balance as of January 1, 2006 — — — — Loss for the year — — (22) (22) Total recognized loss for the year — — (22) (22) Balance as of December 31, 2006 — — (22) (22) Balance as of January 1, 2007 — — (22) (22) Profi t for the year — — 298,051 298,051 Total recognized income for the year — — 298,051 298,051 Issue of ordinary shares in preparation for the Global Offering (Notes 1.1 and 22(b)(v)) Issue of ordinary shares in connection with the 464 — — 464 Global Offering (Notes 1 and 22(c)) 22 2,934,593 — 2,934,615 Share issuance costs Value of employee services under — (130,389) — (130,389) equity award plans — 5,701 — 5,701 Balance as of December 31, 2007 486 2,809,905 298,029 3,108,420 The profi t attributable to equity owners of the Company was dealt with in the fi nancial statements of the Company to the extent of RMB298,051,000 (2006: loss of RMB22,000). 131
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Financial and Operational Highlight
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orld’s leading nline marketplace
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CORPORATE HEADQUARTERS 6th Floor, C
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November Launched TradeManager inst
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Awards and Recognitions Awards and
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Global E-Commerce Leader Alibaba.co
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Along with other members of Alibaba
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2007 Financial highlights We achiev
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CEO’s Statement This mission star
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Global Trade Starts Here Alibaba.co
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BUSINESS ENVIRONMENT Buoyant China
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International marketplace operating
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localize user services and facilita
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selling branded advertisements main
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Management Discussion and Analysis
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provider and other related expenses
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expenses include a royalty fee paid
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Profi t attributable to equity owne
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such land to accommodate our growth
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Corporate Social Responsibility —
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Biographical Details of Directors a
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Directors’ Report RETIREMENT SCHE
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Directors’ Report DIRECTORS’ RE
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60 Annual Report 2007 (ii) Maximum
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62 Annual Report 2007 DIRECTORS’
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Directors’ Report We have also en
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Directors’ Report Alibaba Group h
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Directors’ Report Disclosure of d
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Corporate Governance Report Corpora
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Corporate Governance Report Composi
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Vision - Alibaba

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