Annual Report 2009 - Greentown China Holdings Limited

More documents

Recommendations

Info

Notes to the Consolidated Financial Statements For The Year Ended 31 December 2009 39. RELATED PARTY DISCLOSURES (i) During the year, in addition to those disclosed in other notes to the consolidated financial statements, the Group entered into the following transactions with related parties: 2009 2008 RMB’000 RMB’000 Sale of properties to Shareholders 65,770 13,160 Sale of properties to officers 54,960 233,100 Sale of properties to minority shareholders of subsidiaries 253,389 216,019 Sale of materials to associates and jointly controlled entities 1,694 7,260 Construction service income from associates 5,650 4,525 Construction service income from jointly controlled entities 1,098 1,427 Construction service income from Shareholders’ Companies – 2,037 Rental fees paid/payable to: – Shareholders’ Companies 7,886 5,098 – minority shareholders 200 173 Purchases from Shareholders’ Companies (Note) 1,707 1,460 Interior decoration service fees paid/payable to Shareholders’ Companies 791 21,304 Sales commission paid/payable to minority shareholders – 6,301 Property management fees paid/payable to Shareholders’ Companies 13,899 11,153 Interest income arising from amounts due from: – associates 89,361 72,491 – jointly controlled entities 163,681 82,572 Interest expense arising from amounts due to: – associates 3,982 90,620 – jointly controlled entities 17,669 77,138 – minority shareholders 3,199 69,809 Advertising expenses paid/payable to Shareholders’ Companies 40,000 40,000 Other service fees to Shareholders’ Companies 5,645 4,506 Brand usage fees from jointly controlled entities and associates 84,500 10,093 Hotel management fees paid/payable to Shareholders’ Companies 1,737 – Hotel service income from jointly controlled entities – 148 Hotel service income from associates – 502 Hotel service income from Shareholders’ Companies 12 275 Note: Purchases from Shareholders’ Companies represent raw materials purchased for use by construction contractors, the costs of which are included in the overall construction contracts. The directors considered that the transactions above were carried out in the Group’s normal course of business and in accordance with the terms agreed with the counterparties. Shareholders’ Companies represent companies owned by the Shareholders and affiliates. 178 Greentown China Holdings Limited Annual Report 2009
Notes to the Consolidated Financial Statements For The Year Ended 31 December 2009 39. RELATED PARTY DISCLOSURES (Continued) (ii) As at the end of the reporting period, the Group had balances with related parties as follows: 2009 Project-related Non-project related Total Interest Non-interest Interest Non-interest Interest Non-interest bearing bearing bearing bearing bearing bearing RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Due from Shareholders’ Companies – 63,379 – – – 63,379 Minority shareholders – 2,128,539 – 311,843 – 2,440,382 Associates 1,831,210 1,743,547 – 379,727 1,831,210 2,123,274 Jointly controlled entities 20,000 161,327 – 413,402 20,000 574,729 Officers – 59,788 – – – 59,788 1,851,210 4,156,580 – 1,104,972 1,851,210 5,261,552 Due to Shareholders – 13,160 – – – 13,160 Shareholders’ Companies – 3,219 – – – 3,219 Minority shareholders 1,689,902 534,037 – 699,747 1,689,902 1,233,784 Associates – 5,383 2,021,489 12,798 2,021,489 18,181 Jointly controlled entities 561,824 486,833 1,302 563,150 563,126 1,049,983 Officers – 136,223 – – – 136,223 2,251,726 1,178,855 2,022,791 1,275,695 4,274,517 2,454,550 2008 Project-related Non-project related Total Interest Non-interest Interest Non-interest Interest Non-interest bearing bearing bearing bearing bearing bearing RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 Due from Shareholders’ Companies – 6,793 – 158 – 6,951 Minority shareholders – 268,415 – 493,834 – 762,249 Associates 953,197 1,644,077 – 44 953,197 1,644,121 Jointly controlled entities 753,759 68,095 – 15 753,759 68,110 Officers – 25,546 – 1,482 – 27,028 1,706,956 2,012,926 – 495,533 1,706,956 2,508,459 Due to Shareholders – 13,115 – – – 13,115 Shareholders’ Companies – 138 – 4,007 – 4,145 Minority shareholders 560,419 1,696,406 – 570,515 560,419 2,266,921 Associates – 12,807 1,679,199 – 1,679,199 12,807 Jointly controlled entities 184,258 – 510,294 – 694,552 – Officers – 48,163 – – – 48,163 744,677 1,770,629 2,189,493 574,522 2,934,170 2,345,151 Greentown China Holdings Limited Annual Report 2009 179
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 108 and 109:
Page 110 and 111:
Page 112 and 113:
Page 114 and 115:
Page 116 and 117:
Page 118 and 119:
Page 120 and 121:
Page 122 and 123:
Page 124 and 125:
Page 126 and 127:
Page 128 and 129:
Page 130 and 131: Notes to the Consolidated Financial
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 230 and 231:
Valuation Report and Analysis Prope
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

Create successful ePaper yourself

Delete template?

Save as template?