Annual Report 2009 - Greentown China Holdings Limited

More documents

Recommendations

Info

Notes to the Consolidated Financial Statements For The Year Ended 31 December 2009 7. REVENUE AND SEGMENT INFORMATION (Continued) The Group has adopted IFRS 8 Operating Segments with effect from 1 January 2009. IFRS 8 is a disclosure standard that requires the identification of operating segments to be performed on the same basis as financial information that is reported internally for the purpose of allocating resources between segments and assessing their performance. The predecessor standard, IAS 14 Segment Reporting, required the identification of two sets of segments (business and geographical) using a risks and returns approach. In the past, the Group did not present any segment information because (i) the Group engages in principally one business segment – property development; (ii) substantially all of its customers are located in the PRC; and (iii) substantially all of its assets and liabilities are located in the PRC. The application of IFRS 8 has resulted in a redesignation of the Group’s reportable segments as compared with the primary reportable segments determined in accordance with IAS 14. The Group’s operating and reportable segments under IFRS 8 are as follows: 1 Property development 2 Hotel operations 3 Others (including sales of construction materials, electronic engineering, design and decoration, etc.) The chief operating decision-maker of the Group has been identified as the executive directors and certain senior management (collectively referred to as the “CODM”). Management determines the operating segments based on the Group’s internal reports, which are then submitted to the CODM for performance assessment and resources allocation. The Group’s consolidated revenue and results are attributable to the market in the PRC (country of domicile) and almost all of the Group’s consolidated assets are located in the PRC. The Group has identified two reportable segments, namely property development and hotel operations. For the property development operations, the CODM review the financial information of each property development project which constitutes a separate operating segment. However, the property development projects possess similar economic characteristics, and are with similar development and selling activities as well as similar customer bases. Therefore, all property development projects are aggregated into one reportable segment. The CODM assess the performance of the operating segments based on the post-tax profit of the group entities engaged in the respective segment activities which includes share of results of associates and jointly controlled entities and related finance costs. Financial information provided to the CODM is measured in a manner consistent with the accounting policies adopted in the preparation of the consolidated financial statements as described in Note 3. Sales between segments are carried out on terms agreed between the counterparties. No customers account for 10% or more of the Group’s revenue. 126 Greentown China Holdings Limited Annual Report 2009
Notes to the Consolidated Financial Statements For The Year Ended 31 December 2009 7. REVENUE AND SEGMENT INFORMATION (Continued) An analysis of the Group’s revenue and results by reportable segment is as follows: Property Hotel All other Segment development operations segments total Eliminations Total RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 For the year ended 31 December 2009 Revenue External revenue 8,631,978 72,229 23,222 8,727,429 – 8,727,429 Inter-segment revenue – 4,264 431,193 435,457 (435,457) – Total 8,631,978 76,493 454,415 9,162,886 (435,457) 8,727,429 Segment results 1,191,718 (44,063) (11,104) 1,136,551 (3,193) 1,133,358 Unallocated administrative expenses (144,925) Unallocated other income 353 Unallocated finance costs (119,744) Fair value changes on Trust-related financial derivatives (78,900) Net gain on repurchase of senior notes 327,967 Net gain on redemption of 2006 Convertible Bonds 11,494 Unallocated taxation (37,471) Profit for the year 1,092,132 Greentown China Holdings Limited Annual Report 2009 127
Page 1 and 2:
eauties in life Start with a dream
Page 3 and 4:
Contents Corporate Information 2 Co
Page 5 and 6:
Corporate Information Registered Of
Page 7:
Corporate Profile Greentown China H
Page 10:
Villa Changsha Bamboo Garden Shangh
Page 13 and 14:
Mansion Beijing Majestic Mansion Th
Page 15 and 16:
Urban Complex
Page 17 and 18:
Jinan National Games Project
Page 19 and 20:
Thousand-Island Lake Resort Condo -
Page 21 and 22:
Xinjiang 1.9% Proportion to total l
Page 23 and 24:
Portfolio Property projects Type In
Page 25 and 26:
Portfolio Completion schedule of pr
Page 27 and 28:
Portfolio Wenzhou Lucheng Plaza Nin
Page 29 and 30:
Page 31 and 32:
Page 33 and 34:
Portfolio Nanjing Rose Garden Prope
Page 35 and 36:
Page 37 and 38:
Portfolio Qingdao Ideal City Jinan
Page 39 and 40:
Page 41 and 42:
A romantic trip of timeless splendo
Page 43 and 44:
Dear Shareholders, In early 2009, t
Page 45 and 46:
CEO’s Review Sales of major proje
Page 47:
CEO’s Review Maintaining the “e
Page 50 and 51:
Management Discussion and Analysis
Page 52 and 53:
Page 54 and 55:
Page 56 and 57:
Page 58 and 59:
Page 60 and 61:
58 Greentown China Holdings Limited
Page 62 and 63:
Directors and Senior Management The
Page 64 and 65:
Directors and Senior Management Boa
Page 66 and 67:
Directors and Senior Management Ind
Page 68 and 69:
Directors and Senior Management Tan
Page 70 and 71:
Corporate Governance Report The Com
Page 72 and 73:
Corporate Governance Report Appoint
Page 74 and 75:
Corporate Governance Report (B) Dur
Page 76 and 77:
Report of the Directors The Directo
Page 78 and 79: Report of the Directors (4) Pursuan
Page 80 and 81: Report of the Directors (4) A contr
Page 82 and 83: Report of the Directors Name of gra
Page 84 and 85: Report of the Directors (b) As Harb
Page 86 and 87: Report of the Directors (d) (e) Sha
Page 88 and 89: Report of the Directors (B) After c
Page 90 and 91: Report of the Directors (3) a compr
Page 92 and 93: Report of the Directors (2) an adve
Page 94 and 95: Report of the Directors (c) entered
Page 96 and 97: 94 Greentown China Holdings Limited
Page 98 and 99: Independent Auditor’s Report TO T
Page 100 and 101: Consolidated Statement of Comprehen
Page 102 and 103: Consolidated Statement of Financial
Page 104 and 105: Consolidated Statement of Cash Flow
Page 106 and 107: Notes to the Consolidated Financial
Page 178 and 179:
Notes to the Consolidated Financial
Page 180 and 181:
Page 182 and 183:
Page 184 and 185:
Page 186 and 187:
Page 188 and 189:
Page 190 and 191:
Page 192 and 193:
Five Years Financial Summary Consol
Page 194 and 195:
Valuation Report and Analysis Metho
Page 196 and 197:
Valuation Report and Analysis SUMMA
Page 198 and 199:
Valuation Report and Analysis Prope
Page 200 and 201:
Page 202 and 203:
Page 204 and 205:
Page 206 and 207:
Page 208 and 209:
Page 210 and 211:
Page 212 and 213:
Page 214 and 215:
Page 216 and 217:
Page 218 and 219:
Page 220 and 221:
Page 222 and 223:
Page 224 and 225:
Page 226 and 227:
Page 228 and 229:
Page 230 and 231:
Page 232 and 233:
Valuation Report and Analysis 3. As
Page 234 and 235:
Valuation Report and Analysis 25. A
show all

Annual Report 2009 - Greentown China Holdings Limited

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?