2012 Annual Report - ZTE

ANNUAL REPORT 2012Notes to Financial Statements(Prepared under Hong Kong Financial Reporting Standards)31 December 201224. INVENTORIESGroupCompany2012 2011 2012 2011RMB’000 RMB’000 RMB’000 RMB’000Raw materials 3,359,605 3,987,559 1,296,103 1,588,199Work in progress 919,285 1,570,680 462,728 833,901Finished goods 2,983,703 3,379,872 572,237 1,210,817Contract works in progress 4,179,796 6,050,268 3,336,965 5,001,64711,442,389 14,988,379 5,668,033 8,634,56425. TELECOMMUNICATIONS SYSTEM CONTRACTSGroupCompany2012 2011 2012 2011RMB’000 RMB’000 RMB’000 RMB’000Amount due from customersfor contract works 13,666,100 14,588,455 8,440,613 12,171,992Amount due to customersfor contract works (3,459,545) (3,068,804) (2,600,053) (2,401,582)10,206,555 11,519,651 5,840,560 9,770,410Contract costs incurredplus recognised profits 43,111,813 42,480,623 25,630,688 32,769,949Less: Recognised losses to date 193,877 160,242 17,603 68,432Less: Progress billings 32,711,381 30,800,730 19,772,525 22,931,10710,206,555 11,519,651 5,840,560 9,770,41026. TRADE AND BILLS RECEIVABLES/LONG-TERM TRADE RECEIVABLESGroupCompany2012 2011 2012 2011RMB’000 RMB’000 RMB’000 RMB’000Trade and bills receivables 30,536,450 30,643,306 42,018,279 38,977,582Impairment (2,979,412) (2,682,078) (2,085,831) (2,079,511)27,557,038 27,961,228 39,932,448 36,898,071Current portion (26,350,396) (27,096,954) (38,732,887) (36,128,157)Long-term portion 1,206,642 864,274 1,199,561 769,914387