Vision - Alibaba
Vision - Alibaba
Vision - Alibaba
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142 Annual Report 2007<br />
Notes to the Financial Statements<br />
26 STATUTORY RESERVES<br />
In accordance with the relevant regulations and their articles of association, the Company’s subsidiaries<br />
incorporated in the PRC are required to allocate at least 10% of their after-tax profi t according to PRC<br />
accounting standards and regulations to the general statutory reserve until such reserve has reached 50%<br />
of registered capital. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are<br />
at the discretion of the respective board of directors of the subsidiaries. These reserves can only be used for<br />
specifi c purposes and are not distributable or transferable in the form of loans, advances, or cash dividends.<br />
During the year ended December 31, 2007, appropriations to the general statutory reserve amounted to<br />
RMB61,676,000 (2006: RMB10,919,000).<br />
27 TRADE PAYABLES<br />
The aging analysis of trade payables was as follows:<br />
2007 2006<br />
RMB’000 RMB’000<br />
0–30 days 8,034 6,394<br />
31 days–60 days 2,753 2,218<br />
61 days–90 days 1,634 79<br />
Over 90 days 462 7<br />
12,883 8,698