Annual Report 2011 - Goodbaby International Holdings Limited

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NOTES TO FINANCIAL STATEMENTS 31 December 2011 20. DERIVATIVE FINANCIAL INSTRUMENTS gb international Group 2011 2010 (HK$’000) (HK$’000) Forward currency contracts - assets 13,947 – Forward currency contracts - liabilities – 2,885 The Group uses forward currency contracts to manage some of its transaction exposures. These forward currency contracts are not designated as cash flow, fair value or net investment hedges and are entered into for periods consistent with currency transaction exposures, which are generally two to twelve months. The carrying amounts of derivative financial instruments approximates to the amount of its fair value. The fair value of derivative financial instruments was calculated based on a forward pricing model, using present value calculations. The model incorporates various inputs including the foreign exchange contract rates and forward rates, and the forward rate curves. 21. INVENTORIES Group 2011 2010 (HK$’000) (HK$’000) Raw materials 251,186 169,067 Work in progress 79,138 84,491 Finished goods 346,443 317,751 676,767 571,309
NOTES TO FINANCIAL STATEMENTS 31 December 2011 22. TRADE AND NOTES RECEIVABLES Group / 121 2011 2010 (HK$’000) (HK$’000) Trade receivables 616,135 493,714 Notes receivable 26,780 13,026 642,915 506,740 Impairment of the trade receivables (488) (429) 642,427 506,311 The Group’s trading terms with its customers are mainly on credit, except for new customers, where payment in advance is normally required. The credit period is up to three months. Each customer has a maximum credit limit. The Group seeks to maintain strict control over its outstanding receivables and has a credit control department to minimise credit risk. Overdue balances are reviewed regularly by senior management. Trade receivables are non-interestbearing. The Group’s notes receivable were all aged within six months and were neither past due nor impaired. An aged analysis of the trade receivables of the Group, based on the invoice date, is as follows: Group 2011 2010 (HK$’000) (HK$’000) Within 3 months 607,354 479,280 3 to 6 months 7,070 9,261 6 months to 1 year 1,202 4,584 Over 1 year 21 160 615,647 493,285
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gbinternational.com.hk
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CORPORATE INFORMATION gb internatio
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CORPORATE INFORMATION DIRECTORS Exe
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7 Chairman’s Statement
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Dear Shareholders, I wish to presen
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Looking forward, the Group will con
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OVERVIEW For the financial year end
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) Our OBM model was systematically
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FINANCIAL REVIEW — CONTINUING OPE
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Cost of Sales, Gross Profit and Gro
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Income Tax Expense Our income tax e
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Pledge of Assets As at 31 December
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gb international
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The Board is pleased to present thi
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development efforts of the Company
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Specific enquiry has been made of a
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The key elements of the Group’s i
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gb international
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The Directors are pleased to presen
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pursuant to which each of the Coven
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Directors’ Interest in the Shares
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During the year under review, the t
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DISCLOSURE UNDER RULE 13.20 OF THE
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INDEPENDENT AUDITORS’ REPORT We b
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CONSOLIDATED STATEMENT OF COMPREHEN
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CONSOLIDATED STATEMENT OF FINANCIAL
Page 71 and 72: CONSOLIDATED STATEMENT OF CASH FLOW
Page 73 and 74: STATEMENT OF FINANCIAL POSITION 31
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Annual Report 2011 - Goodbaby International Holdings Limited

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