Annual Report 2011 年 報 - Neo-Neon LED Lighting International Ltd

NotES to tHE CoNSoLIDAtED
fINANCIAL StAtEMENtS
33. PURCHASE OF SUBSIDIARIES (Continued)
(a)
(Continued)
If the acquisition has been completed on 1st January, 2010, total group revenue for the period
from 1st January, 2010 to 31st March, 2011 would have been HK$1,805,027,000 and profit for the
period would have been HK$123,839,000. The proforma information is for illustrative purposes only
and is not necessarily an indication of the revenue and results of the Group that actually would have
been achieved had the acquisition been completed on 1st January, 2010, nor is it intended to be a
projection of future results.
(b)
Also, in December 2010, the Group acquired 92.3% equity interest of NNEG for a consideration
of Euro 300,000. This acquisition has been accounted for using the acquisition method. NNEG is
engaged in the design, manufacture, and distribution of quality LED products. The acquisition was
made to expand the LED operation and support the growth strategies of the Group.
Consideration transferred
Euro’000
Shown as
HK$’000
Cash 300 3,209
Acquisition-related costs amounting to HK$16,000 have been excluded from the consideration
transferred and have been recognised as an expense in the current year, within the administrative
expenses line item in the profit or loss.
Assets acquired and liabilities recognised at the date of acquisition are as follows:
Euro’000
Shown as
HK$’000
Property, plant and equipment 4 43
Inventories 117 1,251
Trade and other receivables 83 888
Bank balances and cash 180 1,925
Trade and other payables (134) (1,433)
250 2,674
104
NEO-NEON HOLDINGS LIMITED