2012 Annual Report - ZTE

ZTE CORPORATIONNotes to Financial Statements(Prepared under Hong Kong Financial Reporting Standards)31 December 201222. INVESTMENTS IN ASSOCIATES (continued)The above table lists the associates of the Group which, in the opinion of the directors, principally affectedthe results for the year or formed a substantial portion of the net assets of the Group. To give details ofother associates would, in the opinion of the directors, result in particulars of excessive length.The year end date of the financial statements of the above associates is coterminous with that of the Group.All the above associates have been accounted for using the equity method in these financial statements.The following table illustrates the summarised financial information of the Group’s associates extracted fromtheir management accounts:2012 2011RMB’000 RMB’000Assets 3,702,646 3,996,833Liabilities 1,705,680 1,873,264Revenues 865,993 1,819,101Profit 263,896 286,64523. AVAILABLE-FOR-SALE INVESTMENTSGroupCompany2012 2011 2012 2011RMB’000 RMB’000 RMB’000 RMB’000Listed equity investment, at market value 38,420 — — —Unlisted equity investments, at cost 1,053,915 819,972 323,655 212,4481,092,335 819,972 323,655 212,448The above investments consist of investments in equity securities which have been designated as availablefor-salefinancial assets and have no fixed maturity date or coupon rate.As at 31 December 2012, the above listed equity investment with a carrying amount of RMB38,420,000(2011:Nill) was stated at market value because the investee company became listed in June 2012. And theabove unlisted equity investments with a carrying amount of RMB1,053,915,000 (2011: RMB819,972,000)were stated at cost less impairment because the range of reasonable fair value estimates is so significantthat the directors are of the opinion that their fair value cannot be measured reliably. The Group does notintend to dispose of them in the near future.386