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

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NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 22. INVENTORIES 31.3.2011 31.12.2009 HK$’000 HK$’000 Raw materials 259,246 159,580 Work in progress 901,268 491,613 Finished goods 259,160 159,054 1,419,674 810,247 23. TRADE AND OTHER RECEIVABLES 31.3.2011 31.12.2009 HK$’000 HK$’000 Trade receivables – jointly controlled entity 1,014 116 – others 367,263 171,330 Bills receivables 56,364 37,355 Less: Allowance for bad and doubtful debts (35,587) (38,483) 389,054 170,318 Deposits paid to suppliers 39,952 26,916 Value added tax refundable on export sales 77,211 25,109 Value added tax recoverable 13,842 9,095 Other receivables 25,605 25,922 545,664 257,360 ANNUAL REPORT 2011 91
NotES to tHE CoNSoLIDAtED fINANCIAL StAtEMENtS 23. TRADE AND OTHER RECEIVABLES (Continued) Payment terms with customers are mainly on credit together with deposits. Invoices are normally payable from 60 days to 90 days of issuance, except for certain well established customers in which the credit terms are up to 180 days. The following is an aged analysis of trade and bills receivables presented based on the invoice date at the end of the reporting period: 31.3.2011 31.12.2009 HK$’000 HK$’000 Age 0 to 60 days 194,315 71,806 61 to 90 days 33,087 18,751 91 to 180 days 78,769 30,999 181 to 360 days 73,958 40,717 Over 1 year 8,925 8,045 389,054 170,318 Included in the Group’s trade receivables balance are debtors with aggregate carrying amount of HK$82,883,000 (2009: HK$48,762,000) which are past due at the reporting date for which the Group has not provided for impairment loss. Based on payment pattern of the customers of the Group, trade receivables past due but not impaired are generally collectible. The Group does not hold any collateral over these balances. The average age of these receivables ranges from 181 days to 360 days. At the end of the reporting period, the Group made allowances for receivables over 1 year and over 2 years because historical experience is such that receivables that are past due beyond 1 year and beyond 2 years are generally not recoverable. Movement in the allowance for bad and doubtful debts 31.3.2011 31.12.2009 HK$’000 HK$’000 Balance at the beginning of the period/year 38,483 59,147 Allowance recognised on receivables 27,163 10,747 Amounts written off as uncollectible (30,059) (31,411) Balance at the end of the period/year 35,587 38,483 Included in the allowance for doubtful debts are individually impaired trade receivables with an aggregate balance of HK$35,587,000 (2009: HK$38,483,000) which have been in severe financial difficulties. The Group does not hold any collateral over these balances. 92 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
Page 42 and 43: CoNSoLIDAtED StAtEMENt of CoMPrEHEN
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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