Annual Report 2011 年報 - Neo-Neon LED Lighting International Ltd

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NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 33. PURCHASE OF SUBSIDIARIES (Continued) (c) (Continued) The fair value of trade and other receivables at the date of acquisition amounted to HK$11,879,000. The gross contractual amounts of those trade and other receivables acquired amounted to HK$11,879,000 at the date of acquisition. None of the contractual cash flows are not expected to be collected at acquisition date. Goodwill arising on acquisition: US$’000 Shown as HK$’000 Consideration transferred 17,000 132,630 Less: Net assets acquired (5,503) (42,897) Goodwill arising on acquisition 11,497 89,733 The goodwill is attributable to the anticipated profitability arising from the distribution of the Group’s products in the new markets and the future operating synergies from the combination. None of the goodwill arising on this acquisition is expected to be deductible for tax purposes. Net cash outflow on acquisition of HCI: US$’000 Shown as HK$’000 Cash consideration paid 4,000 31,178 Less: Cash and cash equivalent balances acquired (336) (2,619) 3,664 28,559 HCI contributed a revenue of HK$2,823,000 and a loss of HK$2,774,000 for the period from the date of acquisition to 31st March, 2011. 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$1,716,257,000 and profit for the period would have been HK$117,342,000. 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. ANNUAL REPORT 2011 107
NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 33. PURCHASE OF SUBSIDIARIES (Continued) (d) In October 2009, the Group acquired 100% ownership interests of 揚州祥赫光電有限公司 (Yangzhou Xianhe Optolight Co., Ltd.) (“YXO”) for a consideration of HK$6,462,000. This acquisition has been accounted for as acquisition of assets and the related liabilities. The assets and related liabilities recorded in the books of YXO as at the date of acquisition are as follows: HK$’000 Property, plant and equipment 484 Intangible assets* 4,455 Inventories 491 Other receivables 734 Bank balances and cash 448 Other payables (150) Satisfied by: 6,462 Cash consideration paid 6,462 Net cash outflow arising on acquisition: Cash consideration paid 6,462 Less: Bank balances and cash acquired (448) 6,014 * The management of the Group recognised an impairment loss of HK$4,455,000 in relation to the intangible assets of YXO. The intangible assets mainly related to pre-operating expenses incurred by YXO prior to the acquisition. 108 NEO-NEON HOLDINGS LIMITED
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Contents Corporate Information 4 Ch
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4lnternational Merged In Year 2010,
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Chairman’s Statement Dear Shareho
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Chairman’s Statement We are confi
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Directors, and Senior Management Pr
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Directors, and Senior Management Pr
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Management Discussion And Analysis
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Directors’ Report PRE-EMPTIVE RIG
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Directors’ Report DIRECTORS AND C
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Directors’ Report CONNECTED TRANS
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Directors’ Report The weighted av
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Directors’ Report EMPLOYEES The t
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Corporate Governance Report Chairma
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Corporate Governance Report Minutes
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Corporate Governance Report III. Em
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INDEPENDENt AuDItor’S rEPort TO T
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CoNSoLIDAtED StAtEMENt of CoMPrEHEN
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CoNSoLIDAtED StAtEMENt of fINANCIAL
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CoNSoLIDAtED StAtEMENt of CASH fLoW
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NotES to tHE CoNSoLIDAtED fINANCIAL
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Page 58 and 59: NotES to tHE CoNSoLIDAtED fINANCIAL
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Annual Report 2011 年 報 - Neo-Neon LED Lighting International Ltd

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Annual Report 2011 年報 - Neo-Neon LED Lighting International Ltd