Annual Report 2012 - HKExnews

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Notes to the Consolidated Financial Statements (Continued) 22 Cash (Used In)/Generated From Operations 2012 2011 HK$ HK$ (Loss)/profit before income tax (27,713,371) 2,422,166 Adjustments for: Depreciation and amortisation charges 3,812,115 2,855,336 Share-based compensation 2,241,583 2,913,880 Interest income (929) (471) Finance costs 57,448 163,252 Operating (loss)/profit before working capital changes (21,603,154) 8,354,163 Changes in working capital: Trade and other receivables 12,494,254 (8,694,404) Trade and other payables 1,331,434 2,126,007 Deferred revenue 1,991,451 369,268 Cash (used in)/generated from operations (5,786,015) 2,155,034 23 Operating Lease Commitments The total future minimum lease payments under non-cancellable operating leases in respect of the factory are payable as follows: 2012 2011 HK$ HK$ No later than 1 year 617,265 2,593,801 Later than 1 year and no later than 5 years — 600,602 617,265 3,194,403 24 Related Party Transactions The ultimate holding company of the Company is iMediaHouse.com Limited, a company incorporated in the British Virgins Island. The intermediate holding company of the Company is iMediaHouse Asia Limited, a company incorporated in Hong Kong. As of 31 December 2012 and 2011, the Group has no other non-trade receivable from or payable to related parties. 94 FOCUS MEDIA NETWORK LIMITED Annual Report 2012
Notes to the Consolidated Financial Statements (Continued) 25 Investment in and Amounts Due from Subsidiaries Company 2012 2011 HK$ HK$ Unlisted investment, at cost 234,943,540 234,943,540 Due from subsidiaries 37,521,781 38,602,683 The amounts due from subsidiaries are unsecured, interest-free and have no fixed terms of repayments. 26 Particulars of Principal Subsidiaries As at 31 December 2012, the Company has direct and indirect interests in the following subsidiaries: Name of company Class of share held Place of incorporation/ establishment Place of operation Particular of issued share capital/paid up registered capital Attributable equity interest of the Group (%) Principal activities Direct subsidiary Focus Media Network Limited Ordinary British Virgin Islands British Virgin Islands HK$780 100 Investment holding Indirect subsidiaries Focus Media Hong Kong Limited Focus Media Singapore Pte. Ltd. Creative Execution Limited Creative Execution (Pte.) Limited DOupons Limited (Note 27) Ordinary Hong Kong Hong Kong HK$10,000 100 Provision of out-of-home advertising services Ordinary Singapore Singapore SG$10 100 Provision of out-of-home advertising services Ordinary Hong Kong Hong Kong HK$10,000 100 Provision of out-of-home advertising services Ordinary Singapore Singapore SG$10 100 Provision of out-of-home advertising services Ordinary Hong Kong Hong Kong HK$10,000 19.9 Provision of out-of-home advertising services FOCUS MEDIA NETWORK LIMITED Annual Report 2012 95
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Characteristics of the Growth Enter
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Corporate Information Board of Dire
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Management Discussion and Analysis
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Annual Report 2012 - HKExnews

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