Vision - Alibaba

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146 Annual Report 2007 Notes to the Financial Statements 30 DEFERRED TAX ASSETS (Continued) Deferred tax liabilities Deferred costs RMB’000 As of January 1, 2006 (24,271) Charged to the income statement (16,331) As of December 31, 2006 (40,602) Charged to the income statement (4,709) As of December 31, 2007 (45,311) Deferred tax assets are recognized for tax losses carried forward to the extent that realization of related tax benefi ts through future taxable profi ts is probable. The Group’s major operating subsidiary, Alibaba China, used a tax rate of 15% in the computation of deferred tax assets as of December 31, 2007 (Note 13). In addition, the Group did not recognize deferred income tax assets of RMB34,220,000 (2006: RMB33,422,000) in respect of the accumulated tax losses of subsidiaries incorporated in Hong Kong and the United States, subject to the agreement of the relevant tax authorities, amounting to RMB168,785,000 (2006: RMB161,020,000). These tax losses are allowed to be carried forward to offset against future taxable profi ts. Carry forward of tax losses in Hong Kong has no time limit, while the tax losses in United States will expire, if unused, in the years ending December 31, 2020 through 2021. The Group did not recognize deferred income tax assets of RMB26,776,000 (2006: RMB36,802,000) in respect of the accumulated tax losses of subsidiaries incorporated in the PRC, subject to the agreement of the PRC tax authorities, amounting to RMB108,756,000 (2006: RMB111,520,000). Carry forward of these tax losses will expire, if unused, in the years ending December 31, 2008 through 2012. 31 CONTINGENCIES As of December 31, 2007, the Group did not have any material contingent liabilities or guarantees (2006: Nil).
32 COMMITMENTS (a) Capital commitments (i) Capital expenditures contracted for were analyzed as follows: Notes to the Financial Statements 2007 2006 RMB’000 RMB’000 Contracted but not provided for: Purchase of property and equipment 11,501 5,214 Construction of a corporate campus 83,587 — 95,088 5,214 (ii) Pursuant to the agreements signed between Alibaba China and The Bureau of State Land and Resources of Hangzhou Municipality, Binjiang Branch on June 26, 2006, Alibaba China paid approximately RMB29,332,000 in connection with the prepayment of an operating lease for land use rights in the PRC for a period of 50 years for the corporate campus to be constructed. Alibaba China has committed that the total investment for the construction would not be less than RMB300 million by June 26, 2009. (b) Operating lease commitments The Group leases offi ces under non-cancellable operating lease agreements. The leases have varying terms and renewal rights. The future aggregate minimum lease payments under non-cancellable operating leases were as follows: 2007 2006 RMB’000 RMB’000 No later than 1 year 35,621 19,463 Later than 1 year and no later than 5 years 22,861 18,769 58,482 38,232 147
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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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52 Annual Report 2007 Notes: (a) Th
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56 Annual Report 2007 2. Outstandin
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58 Annual Report 2007 D = the maxim
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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 Since w
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Corporate Governance Report Composi
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Corporate Governance Report Composi
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Corporate Governance Report INVESTO
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The Leading B2B E-Commerce Company
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Independent Auditor’s Report We b
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Consolidated Balance Sheet As of De
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Balance Sheet As of December 31, 20
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Consolidated Statement of Changes i
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Consolidated Cash Flow Statement 20
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