Sun Art Retail Group Limited - TodayIR.com

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Independent Auditor’s Report Independent auditor’s report to the shareholders of Sun Art Retail Group Limited (Incorporated in Hong Kong with limited liability) We have audited the consolidated financial statements of Sun Art Retail Group Limited (“the Company”) and its subsidiaries (together “the Group”) set out on pages 51 to 119, which comprise the consolidated and company statements of financial position as at 31 December 2012, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated cash flow statement for the year then ended and a summary of significant accounting policies and other explanatory information. Directors’ responsibility for the consolidated financial statements The directors of the Company are responsible for the preparation of consolidated financial statements that give a true and fair view in accordance with Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of Certified Public Accountants and the Hong Kong Companies Ordinance and for such internal control as the directors determine is necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to express an opinion on these consolidated financial statements based on our audit. This report is made solely to you, as a body, in accordance with section 141 of the Hong Kong Companies Ordinance, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report. We conducted our audit in accordance with Hong Kong Standards on Auditing issued by the Hong Kong Institute of Certified Public Accountants. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of the consolidated financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the consolidated financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Sun Art Retail Group Limited Annual Report 2012 49
Independent Auditor’s Report Opinion In our opinion, the consolidated financial statements give a true and fair view of the state of affairs of the Company and of the Group as at 31 December 2012 and of the Group’s profit and cash flows for the year then ended in accordance with Hong Kong Financial Reporting Standards and have been properly prepared in accordance with the Hong Kong Companies Ordinance. KPMG Certified Public Accountants 8th Floor, Prince’s Building 10 Chater Road Central, Hong Kong 15 March 2013 50 Sun Art Retail Group Limited Annual Report 2012
Page 1 and 2: Sun Art Retail Group Limited (Incor
Page 3 and 4: CORPORATE INFORMATION DIRECTORS Exe
Page 5 and 6: CHAIRMAN’S STATEMENT Dear Shareho
Page 7 and 8: CHIEF EXECUTIVE OFFICER’S STATEME
Page 9 and 10: MANAGEMENT DISCUSSION AND ANALYSIS
Page 19 and 20: PROFILES OF DIRECTORS AND SENIOR MA
Page 21 and 22: PROFILES OF DIRECTORS AND SENIOR MA
Page 23 and 24: REPORT OF DIRECTORS The directors o
Page 25 and 26: REPORT OF DIRECTORS Purchase, Sale
Page 27 and 28: REPORT OF DIRECTORS Directors’ In
Page 29 and 30: REPORT OF DIRECTORS (7) This repres
Page 31 and 32: REPORT OF DIRECTORS Notes: (1) The
Page 33 and 34: REPORT OF DIRECTORS Under the terms
Page 35 and 36: REPORT OF DIRECTORS Audit Committee
Page 37 and 38: RISK FACTORS • potential growth o
Page 39 and 40: RISK FACTORS any severe communicabl
Page 41 and 42: REPORT OF CORPORATE GOVERNANCE Inde
Page 43 and 44: REPORT OF CORPORATE GOVERNANCE Duri
Page 45 and 46: REPORT OF CORPORATE GOVERNANCE Remu
Page 47 and 48: REPORT OF CORPORATE GOVERNANCE DIRE
Page 49: REPORT OF CORPORATE GOVERNANCE COMM
Page 53 and 54: CONSOLIDATED STATEMENT OF FINANCIAL
Page 55 and 56: STATEMENT OF FINANCIAL POSITION OF
Page 57 and 58: CONSOLIDATED CASH FLOW STATEMENT Fo
Page 59 and 60: NOTES TO THE CONSOLIDATED FINANCIAL
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NOTES TO THE CONSOLIDATED FINANCIAL
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FINANCIAL SUMMARY A summary of the
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