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

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NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 6. FINANCIAL INSTRUMENTS (Continued) b. Financial risk management objectives and policies (Continued) Credit risk The Group’s principal financial assets are trade and other receivables, pledged bank deposits and bank balances and cash, which represent the Group’s maximum exposure to credit risk in relation to financial assets. The Group’s credit risk is primarily attributable to its trade receivables. The amounts presented in the statement of financial position are net of allowances for doubtful receivables, if any, estimated by the Group’s management based on prior experience and their assessment of the current lighting industry environment. In order to minimise the credit risk in relation to trade receivables, the management of the Group reviews the recoverable amount of each individual trade debt at the end of the reporting period to ensure that adequate impairment losses are made for irrecoverable amounts. In this regard, the directors of the Company consider that the Group’s credit risk is significantly reduced. The credit risk on liquid funds is limited because majority of the counterparties are banks with high credit-ratings assigned by international credit-rating agencies and PRC state-owned banks with good reputation. The Group has concentration of credit risk as 7.8% (2009: 7.8%) and 27.4% (2009: 30.6%) of the total trade receivables was due from the Group’s largest customer and the five largest customers respectively within the trading of LED products business. Fair value The fair value of financial assets and financial liabilities are determined as follows: • the fair value of financial assets with standard terms and conditions and traded on active liquid markets are determined with reference to quoted market bid prices; and • the fair value of other financial assets and financial liabilities are determined in accordance with generally accepted pricing models based on discounted cash flow analysis. The directors consider that the carrying amounts of financial assets and financial liabilities recorded at amortised cost in the financial statements approximate their fair values. ANNUAL REPORT 2011 71
NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 6. FINANCIAL INSTRUMENTS (Continued) b. Financial risk management objectives and policies (Continued) Fair value (Continued) Fair value measurements recognised in the consolidated statement of financial position This is an analysis of financial instruments that are measured subsequent to initial recognition at fair value, grouped into Levels 1 to 3 based on the degree to which the fair value is observable. • Level 1 fair value measurements are those derived from quoted prices (unadjusted) in active market for identical assets or liabilities. • Level 2 fair value measurements are those derived from inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices). • Level 3 fair value measurements are those derived from valuation techniques that include inputs for the asset or liability that are not based on observable market data (unobservable inputs). At the end of the reporting period, all the investments held-for-trading totalling HK$121,102,000 (2009: HK$391,312,000) are fair valued at Level 1. 7. TURNOVER AND SEGMENT INFORMATION Information reported to the board of directors of the Company, being the chief operating decision maker, for the purposes of resource allocation and assessment of segment performance focuses on types of goods delivered. Specifically, the Group’s reportable segments under HKFRS 8 are as follows: Light emitting diode (“LED”) – manufacture and distribution of LED decorative decorative lighting lighting products LED general illumination lighting – manufacture and distribution of LED general illumination lighting products Incandescent decorative lighting – manufacture and distribution of incandescent decorative lighting products Entertainment lighting – manufacture and distribution of entertainment lighting products All others – distribution of lighting product accessories Turnover represents the fair value of the consideration received and receivable for goods sold by the Group to outside customers during the period. 72 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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Page 22 and 23: 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