Annual Report 2012 - TodayIR.com

Lonking Holdings Limited
Annual Report 2012
Notes to the Consolidated Financial Statements
For the year ended 31 December 2012
21. TRADE AND BILLS RECEIVABLES (Continued)
An aged analysis of the trade receivables as at the end of the reporting period, based on the
invoice date and net of provisions, is as follows:
2012 2011
RMB’000
RMB’000
Within 3 months 1,514,186 1,775,503
3 to 6 months 323,767 528,581
6 months to 1 year 538,242 74,210
2,376,195 2,378,294
The movements in the provision for impairment of trade receivables are as follows:
2012 2011
RMB’000
RMB’000
At 1 January 66,568 65,623
Impairment losses recognised (note 7) 32,078 945
Amount written off as uncollectible (1,160 ) –
At 31 December 97,486 66,568
Included in the above provision for impairment of trade receivables is a provision for individually
impaired trade receivables of RMB97,486,000 (2011: RMB66,568,000) with a carrying amount
before provision of RMB97,486,000 (2011: RMB66,568,000).
The individually impaired trade receivables relate to customers that were in financial difficulties or
were in default in both interest and/or principal payments and full provision was made for these
individually impaired trade receivables.
The impairment recognised represents the difference between the carrying amount of these
receivables and the present value of the expected proceeds.
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