Annual Report 2009 - Greentown China Holdings Limited

Notes to the Consolidated Financial Statements
For The Year Ended 31 December 2009
1. GENERAL
The Company was incorporated in the Cayman Islands on 31 August 2005 as an exempted company with limited
liability under the Companies Law (2004 Revision) and its shares have been listed on the Main Board of The
Stock Exchange of Hong Kong Limited (the “Stock Exchange”) with effect from 13 July 2006. The address of the
registered office of the Company is disclosed in the section headed “Corporate Information” of the annual report.
The consolidated financial statements are presented in Renminbi (“RMB”), which is also the functional currency
of the Company.
The Company is an investment holding company. The principal activity of its subsidiaries (together with the
Company referred to as the “Group”) is the development of residential properties in the PRC.
2. APPLICATION OF NEW AND REVISED INTERNATIONAL FINANCIAL REPORTING
STANDARDS (“IFRSs”)
In the current year, the Group has applied the following new and revised standards, amendments and
interpretations (“new and revised IFRSs”) issued by the International Accounting Standards Board (the “IASB”)
and the International Financial Reporting Interpretations Committee (the “IFRIC”) of the IASB.
IAS 1 (Revised in 2007)
IAS 23 (Revised 2007)
IAS 32 & 1 (Amendments)
IFRS 1 & IAS 27 (Amendments)
IFRS 2 (Amendment)
IFRS 7 (Amendment)
IFRS 8
IFRIC 9 & IAS 39 (Amendments)
IFRIC 13
IFRIC 15
IFRIC 16
IFRIC 18
IFRSs (Amendments)
IFRSs (Amendments)
Presentation of Financial Statements
Borrowing Costs
Puttable Financial Instruments and Obligations Arising on Liquidation
Cost of an Investment in a Subsidiary, Jointly Controlled Entity
or Associate
Vesting Conditions and Cancellations
Improving Disclosures about Financial Instruments
Operating Segments
Embedded Derivatives
Customer Loyalty Programmes
Agreements for the Construction of Real Estate
Hedges of a Net Investment in a Foreign Operation
Transfers of Assets from Customers
Improvements to IFRSs issued in 2008, except for the amendment
to IFRS 5 that is effective for annual periods beginning or after
1 July 2009
Improvements of IFRSs issued in 2009 in relation to the amendment
to paragraph 80 of IAS 39
Except as described below, the adoption of the new and revised IFRSs has had no material effect on the
consolidated financial statements of the Group for the current or prior accounting periods.
New and revised IFRSs affecting presentation and disclosure only
IAS 1 (Revised 2007) Presentation of Financial Statements
IAS 1 (Revised 2007) has introduced terminology changes (including revised titles for the financial statements)
and changes in the format and content of the financial statements.
IFRS 8 Operating Segments
IFRS 8 is a disclosure standard that has resulted in a redesignation of the Group’s reportable segments (see Note
7).
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Greentown China Holdings Limited Annual Report 2009