2012 Annual Report - ZTE

ANNUAL REPORT 2012Notes to Financial Statements(Prepared under Hong Kong Financial Reporting Standards)31 December 201233. OTHER PAYABLES AND ACCRUALSGroupCompanyNote 2012 2011 2012 2011RMB’000 RMB’000 RMB’000 RMB’000Receipts in advance 3,106,638 2,458,428 1,765,544 1,608,213Other payables 7,903,371 7,660,950 7,728,277 8,312,110Factoring costs payable 104,356 101,759 104,356 101,759Advance receipts for staffhousing scheme 614,189 464,800 614,189 464,800Accruals 2,856,278 2,371,621 940,864 1,087,982Provision for warranties 39 246,692 347,610 127,805 209,246Due to the controllingshareholder 1,363 2,363 308 —Due to subsidiaries — — 8,343,734 11,310,674Due to related companies 884 359 257 56514,833,771 13,407,890 19,625,334 23,095,349The other payables are non-interest-bearing and have an average term of three months. The balancesdue to the controlling shareholder, subsidiaries and related companies are unsecured, interest-free and arerepayable on demand.34. INTEREST-BEARING BANK BORROWINGS2012 2011Effectiveinterest rate(%) Maturity RMB’000Effectiveinterest rate(%) Maturity RMB’000GroupCurrentBank loans — unsecured 1.3-12.75 2013 4,471,431 3.5-12.6 2012 4,481,762Bank loans — unsecured Libor+1.6-4.5 2013 7,351,195 Libor+0.9-5.3 2012 5,282,900Bank loans — unsecured Sibor+1.2 2013 157,137 — — —Bank loans — guaranteed* Libor+1.6-1.95 2014-2016 5,626,824 — — —Bank loans — guaranteed 3 2013 6,286 — — —Bank loans — secured 3.0-7.0 2013 817,020 3.8-10.5 2012 2,111,78618,429,893 11,876,448Non-currentBank loans — secured Libor+1.6 2016 180,419 Libor+1.5 2016 243,467Bank loans — secured 3.0-6.65 2014-2015 807,571 — — —Bank loans — guaranteed — — — Libor+1.6-1.9 2014-2016 5,560,844Bank loans — guaranteed — — — 3 2013 6,301Bank loans — unsecured 0% 2015 2,000 Libor+3.8 2014 630,090Bank loans — unsecured — — — 4.76 2013-2014 500,000989,990 6,940,70219,419,883 18,817,150* Excludes the effects of related interest rate swaps as further detailed in note 30 to the financial statement.395