Annual Report 2012 - Haitian International Holdings Ltd.

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Notes to the Consolidated Financial Statements (Continued) (All amounts in RMB unless otherwise stated) 29. Directors and Senior Management’s Emoluments (Continued) (b) Five highest paid individuals The five individuals whose emoluments were the highest in the Group included two (2011: included one) director whose emoluments are reflected in the analysis presented above. The emoluments payable to the remaining three (2011: four) individuals during the year are as follows: 2012 2011 RMB’000 RMB’000 Salaries 2,487 2,557 Pension cost — — Other benefits 512 688 2,999 3,245 The emoluments fall within the following bands: Number of individuals 2012 2011 Nil — HKD1,000,000 (equivalent to approximately RMB811,000) 2 4 HKD1,000,001 (equivalent to approximately RMB811,000) — HKD1,500,000 (equivalent to approximately RMB1,216,000) 3 1 HKD1,500,001 (equivalent to approximately RMB1,216,000) — HKD2,000,000 (equivalent to approximately RMB1,622,000) — — (c) During the year ended 31 December 2012, no emoluments were paid by the Company to any of the directors or the five highest paid individuals as an inducement to join or upon joining the Group or as compensation for loss of office (2011: Nil). 92
Notes to the Consolidated Financial Statements (Continued) (All amounts in RMB unless otherwise stated) 30. Finance Income/Costs 2012 2011 RMB’000 RMB’000 Finance costs: Interest expense (18,539) (6,769) Net foreign exchange gains on borrowings 6,164 2,373 (12,375) (4,396) Finance income: Interest income on restricted bank deposits and cash and cash equivalents 68,202 29,698 Interest income on financial products 3,987 — Interest income on loans to a distributor 1,630 8,479 73,819 38,177 Finance income, net 61,444 33,781 31. Income Tax Expense The amount of income tax charged to the consolidated income statement represents: 2012 2011 RMB’000 RMB’000 Current income tax — Mainland China enterprise income tax 172,105 182,817 — Overseas income tax 762 1,614 Deferred taxation (Note 23) 35,201 50,234 208,068 234,665 Ningbo Zhafir was entitled to two-year exemption from income tax followed by three-year of 50% tax reduction. Year 2012 is the third year to enjoy 50% tax reduction. Hence, Ningbo Zhafir applied a reduced income tax rate of 12.5% for the year 2012 (2011: 12%). Annual Report 2012 Haitian International Holdings Limited 93
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Contents 2 Financial Highlights 3 C
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Company Profile and Corporate Infor
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Chairman‘s Statements The Board o
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Chairman‘s Statements maintain th
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CEO‘s Report Financial Review Sal
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CEO‘s Report Foreign Exchange Ris
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Directors and Senior Management Exe
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Directors and Senior Management Mr.
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Directors and Senior Management Dr.
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Investor Information Listing Inform
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Corporate Governance Report Haitian
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Corporate Governance Report Directo
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Corporate Governance Report During
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Corporate Governance Report Shareho
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Report of the Directors The directo
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Report of the Directors (vii) Exerc
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Report of the Directors Long Positi
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Report of the Directors Competing B
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Independent Auditor’s Report TO T
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Consolidated Balance Sheet As at 31
Page 43 and 44: Balance Sheet As at 31 December 201
Page 45 and 46: Consolidated Statement of Comprehen
Page 47 and 48: Consolidated Statement of Cash Flow
Page 49 and 50: Notes to the Consolidated Financial
Page 93: Notes to the Consolidated Financial
Page 107: Haitian International Holdings Limi
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Annual Report 2012 - Haitian International Holdings Ltd.

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