Annual Report 2012 - HKExnews

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Notes to the Consolidated Financial Statements (Continued) 5 Segment Information (Continued) The Group is headquartered in Hong Kong. Revenue derived from external customers in Hong Kong and Singapore are HK$32,655,354 (2011: HK$38,100,656) and HK$21,006,451 (2011: HK$21,932,022) respectively. The total non-current assets located in Hong Kong and Singapore are HK$9,738,793 (2011: HK$11,322,296) and HK$2,124,250 (2011: HK$2,018,584) respectively. None of the customers accounted for 10% or more of the Group’s total revenue for the year ended 31 December 2012 (2011: Nil). Breakdown of revenue from all activities is as follows: 2012 2011 HK$ HK$ Advertising fees 53,661,805 60,032,678 6 Other Income 2012 2011 HK$ HK$ Net exchange gain/(loss) 120,369 (15,714) Interest income 929 471 Sundry income 377,960 208,950 499,258 193,707 76 FOCUS MEDIA NETWORK LIMITED Annual Report 2012
Notes to the Consolidated Financial Statements (Continued) 7 Expenses by Nature 2012 2011 HK$ HK$ Revenue sharing with landlords of Office and Commercial Networks (Note a) 4,487,959 4,813,523 Revenue sharing with landlords of In-store Network (Note a) 2,327,808 2,278,414 Revenue sharing with Youku Inc. 5,681,875 128,012 Sales commission 3,112,587 2,527,803 Production and installation 1,120,012 1,267,608 Auditor's remuneration 1,376,931 1,295,925 Depreciation (Note 13) 3,157,623 2,200,845 Amortisation (Note 14) 654,492 654,491 Operating lease payments 2,517,668 2,253,584 Employee benefit expenses excluding equity-based compensation (Note 8) 23,133,629 19,768,166 Equity-based compensation 2,241,583 2,902,128 Marketing and promotion expenses 18,287,826 10,105,198 Travelling expenses 1,901,363 1,456,029 Provision for impairment of trade receivables (Note 15) 1,038,747 414,806 Professional parties fees 4,558,818 741,838 Other expenses 6,218,065 4,832,597 Total cost of sales and administrative expenses 81,816,986 57,640,967 Note: (a) There are no minimum lease payments to landlords of Office and Commercial Networks and In-store Networks. Revenue sharing with landlords of Office and Commercial Networks and In-store Networks was calculated based on the rates agreed between the Group and landlords and is recognised as cost of sales when the related advertisements are telecasted. 8 Employee Benefit Expenses (Including Director’s Emoluments) 2012 2011 HK$ HK$ Salaries, wages and allowances 20,624,969 17,719,479 Pension costs — defined contribution plans 1,575,696 1,359,631 Other post-employment benefits 932,964 689,056 23,133,629 19,768,166 FOCUS MEDIA NETWORK LIMITED Annual Report 2012 77
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Annual Report 2012 - HKExnews

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