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

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NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 4. SIGNIFICANT ACCOUNTING POLICIES (Continued) Leases Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee. All other leases are classified as operating lease. The Group as lessee Operating lease payments are recognised as an expense on a straight line basis over the term of the relevant lease. Benefits received and receivable as an incentive to enter into an operating lease are recognised as a reduction of rental expense over the lease term on a straight line basis. Retirement benefits costs Payments to defined contribution retirement benefits plan are charged as an expense when employees have rendered services entitling them to the contributions. 5. CAPITAL RISK MANAGEMENT The Group manages its capital to ensure that entities in the Group will be able to continue as a going concern while maximising the return to stakeholders. The Group’s overall strategy remains unchanged from prior year. At the end of the reporting period, the capital structure of the Group consisted of debts and equity attributable to owners of the Company, comprising share capital, reserves and retained profits. The management of the Group reviews the capital structure regularly. The Group considers the cost of capital and the risks associated with each class of capital, and will balance its overall capital structure through the payment of dividends, new shares issued and the raising of loans. 6. FINANCIAL INSTRUMENTS a. Categories of financial instruments 31.3.2011 31.12.2009 HK$’000 HK$’000 Financial assets FVTPL (Investments held-for-trading) 121,102 391,312 Loans and receivables (including cash and cash equivalents) 838,462 1,102,477 Financial liabilities Amortised cost 1,092,288 677,644 ANNUAL REPORT 2011 65
NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 6. FINANCIAL INSTRUMENTS (Continued) b. Financial risk management objectives and policies The Group’s major financial instruments include trade and other receivables, investments held-for-trading, pledged bank deposits, bank balances and cash, trade and other payables and bank loans. Details of the financial instruments are disclosed in respective notes. The risks associated with these financial instruments include market risk (currency risk, interest rate risk and other price risk), liquidity risk and credit risk. The policies on how to mitigate these risks are set out below. The management manages and monitors these exposures to ensure appropriate measures are implemented on a timely and effective manner. Market risk (i) Currency risk Several subsidiaries of the Company have foreign currency sales and purchases, which expose the Group to foreign currency risk. Approximately 56.1% (2009: 48.7%) of the Group’s sales are denominated in currencies other than the functional currency of the group entity making the sales, whilst almost 62.4% (2009: 69.7%) of costs are denominated in the respective group entities’ functional currencies. The carrying amounts of the Group’s foreign currency denominated monetary assets and monetary liabilities, which include inter-company loans and receivables, at the reporting date are as follows: Assets Liabilities 31.3.2011 31.12.2009 31.3.2011 31.12.2009 HK$’000 HK$’000 HK$’000 HK$’000 HK$ 1,380,415 2,323,995 2,564,704 2,539,783 Renminbi (“RMB”) 277,798 283,888 418,121 290,692 United States dollar (“US$”) 1,736,040 1,250,581 2,144,446 373,636 Euro 3,415 4,732 40,868 – Australian dollar (“A$”) 35 112,789 – – New Taiwan dollar (“NT$”) 12,361 6,137 655 410 Others 11,632 21,940 868 312 The Group currently does not have a foreign currency hedging policy to eliminate the currency exposures. However, management monitors the related foreign currency exposure closely and will consider hedging significant foreign currency exposures should the need arise. 66 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
Page 16 and 17: Management Discussion And Analysis
Page 24 and 25: Directors’ Report PRE-EMPTIVE RIG
Page 26 and 27: Directors’ Report DIRECTORS AND C
Page 28 and 29: Directors’ Report CONNECTED TRANS
Page 30 and 31: Directors’ Report The weighted av
Page 32 and 33: Directors’ Report EMPLOYEES The t
Page 34 and 35: Corporate Governance Report Chairma
Page 36 and 37: Corporate Governance Report Minutes
Page 38 and 39: Corporate Governance Report III. Em
Page 40 and 41: INDEPENDENt AuDItor’S rEPort TO T
Page 42 and 43: CoNSoLIDAtED StAtEMENt of CoMPrEHEN
Page 44 and 45: CoNSoLIDAtED StAtEMENt of fINANCIAL
Page 46 and 47: CoNSoLIDAtED StAtEMENt of CASH fLoW
Page 48 and 49: 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