Haier IR09_cover layout.indd - Haier Electronics Group Co., Ltd.

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13 Haier Electronics Group Co., Ltd Notes to Condensed Consolidated Interim Financial Statements (Cont’d) 4. Other income and gains 4. For the six months ended 30 June 2009 2008 HK$’000 HK$’000 (Unaudited) (Unaudited) Compensation received from suppliers 7,315 10,181 Interest income for bank and other deposits 3,934 2,391 Government grants* * 2,991 1,204 Gross rental income in respect of land and buildings 11 137 Others 4,774 1,354 19,025 15,267 * Government grants were received during the period as encourage for conducting businesses in economic and technological development zones in Wuhan and Hefei. 5. Finance costs * 5. For the six months ended 30 June 2009 2008 HK$’000 HK$’000 (Unaudited) (Unaudited) Interest on borrowings and wholly repayable within five years 5,540 7,375 Interest on convertible notes (note 9) 9 – 656 5,540 8,031 Interim Report 2009
14 Haier Electronics Group Co., Ltd Notes to Condensed Consolidated Interim Financial Statements (Cont’d) 6. Profit before tax 6. For the six months ended 30 June 2009 2008 HK$’000 HK$’000 (Unaudited) (Unaudited) Profit before tax is arrived at after charging: Depreciation 46,291 45,851 Recognition of prepaid land premiums 1,041 1,106 Loss on disposal of items of property, plant and equipment 939 1,607 Amortisation of intangible assets 328 236 7. Tax 7. For the six months ended 30 June 2009 2008 HK$’000 HK$’000 (Unaudited) (Unaudited) Current – Mainland China 46,085 5,640 Over provision from prior years (532) (22,909) Deferred 6,717 32,085 Total tax charge for the year 52,270 14,816 No provision for Hong Kong profits tax has been made as the Group did not generate any assessable profits arising in Hong Kong during the period (2008: Nil). Tax on profits assessable elsewhere in the People’s Republic of China (the “PRC”) have been calculated at the applicable PRC corporate income tax (“CIT”) rates. Certain subsidiaries of the Group are entitled to preferential tax treatments including a reduction of CIT and a full exemption from CIT for two years starting from their first profit-making year following by a 50% reduction for the next consecutive three years. 50% Interim Report 2009
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Haier IR09_cover layout.indd - Haier Electronics Group Co., Ltd.

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