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

NotES to tHE CoNSoLIDAtED
fINANCIAL StAtEMENtS
8. OTHER GAINS, LOSSES AND EXPENSES
1.1.2010 1.1.2009
to 31.3.2011 to 31.12.2009
HK$’000
HK$’000
Compromise and legal fee relating to a settled litigation (10,412) –
Gain (loss) on disposal of property, plant and equipment 2,688 (3,409)
Gain on disposal of an asset held for sale (note 26) 43,188 –
Impairment loss recognised in respect of prepaid
lease payments – (1,568)
Impairment loss recognised in respect of intangible assets – (4,455)
Net allowance for bad and doubtful debts (27,163) (10,747)
Research and development costs (26,163) (32,301)
Loss on liquidation of a subsidiary – (404)
Increase in fair value of investments held-for-trading 9,340 66,087
Government grants – 5,673
Net exchange loss (8,902) (844)
(17,424) 18,032
Notes:
(i)
(ii)
In March 2009, a former employee filed a claim to USA court against Neo Neon International Limited (“NNI”),
a wholly-owned subsidiary of the Company, seeking a compensation for the alleged NNI’s infringement of the
plaintiff’s lighting product design. On 8th April, 2010, the USA court issued a final verdict and the case was settled
where NNI paid to the plaintiff HK$7,376,000 for compromising the case and paid legal fee of HK$3,036,000,
totalling HK$10,412,000 for final settlement of the case.
Government grants of RMB5,000,000 (equivalent to HK$5,673,000) were granted to the Group to recognise the
achievements of the Group in LED technology development in Guangdong province. The government grants had no
conditions or contingencies attached to them and they were non-recurring in nature.
9. FINANCE COSTS
1.1.2010 1.1.2009
to 31.3.2011 to 31.12.2009
HK$’000
HK$’000
Interest on bank borrowings
– wholly repayable within five years (9,528) (5,315)
– not wholly repayable within five years (1,425) (177)
(10,953) (5,492)
Amortisation of transaction costs in relation to long-term bank loans (450) (360)
(11,403) (5,852)
ANNUAL REPORT 2011 77