0175 Geely Automobile Holdings Limited Annual Report 2011

More documents

Recommendations

Info

Annual Report 2011Geely Automobile Holdings LimitedNOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTSFor the year ended 31 December 201125. Trade and Other Payables (Continued)(a)Trade payablesThe following is an aged analysis of trade payables based on invoice dates at the balance sheet dates:2011 2010RMB’000RMB’0000 – 60 days 5,120,325 4,464,06261 – 90 days 700,064 625,890Over 90 days 560,858 258,1856,381,247 5,348,137Trade payables do not carry interest. The average credit period on purchase of goods is 60 days.(b)(c)(d)(e)Notes payableAt 31 December 2011 and 2010, all notes payable have maturities of less than 1 year.Amounts due to related partiesThe amounts due to related parties controlled by the substantial shareholder of the Company are unsecured,interest-free and have no fixed repayment terms.Amount due to ultimate holding companyThe amount due to ultimate holding company is unsecured, interest-free and has no fixed repaymentterms.Loan from a non-controlling shareholder of a subsidiary of the GroupLoan from a non-controlling shareholder of a subsidiary of the Group is unsecured, interest bearing at2.78% to 6.56% (2010: 2.86% to 5.56%) per annum and repayable within one year.Except for other payables amounting to RMB36,765,000 (2010: RMB33,148,000) which is expected to bepayable after 1 year from the balance sheet date, all other trade and other payables are expected to be settledor recognised as income within 1 year.101
Annual Report 2011Geely Automobile Holdings LimitedNOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTSFor the year ended 31 December 201126. Borrowings2011 2010Note RMB’000 RMB’000Bank loans secured by the Group’s assets (a) 2,068,965 1,560,381Bank loans guaranteed by the ultimate holdingcompany (b) 691,319 931,000Other bank loans (c) 268,000 167,600Bank loans, unsecured (d) 331,281 –Total bank borrowings 3,359,565 2,658,981Loan from government (e) 15,000 –3,374,565 2,658,981At the balance sheet date, the Group’s borrowings were repayable as follows:2011 2010RMB’000RMB’000On demand or within one year 2,531,639 1,096,669In the second year 691,926 845,417In the third to fifth year 151,000 716,8953,374,565 2,658,981Less: amounts due within one year shown under current liabilities (2,531,639) (1,096,669)842,926 1,562,312Note:(a)These bank loans, together with notes payable, are secured by the Group’s property, plant and equipment ofRMB1,188,331,000 (2010: RMB896,554,000), prepaid land lease payments of RMB855,875,000 (2010: RMB502,856,000),notes receivable of RMB457,370,000 (2010: nil) (note 21(b)) and bank deposits of RMB353,532,000 (2010:RMB242,582,000) and carry interest at 5.32% to 6.98% (2010: 5.04% to 5.56%) per annum.(b) These bank loans are guaranteed by the Company’s ultimate holding company and carry interest at 3.37% to 6.9%(2010: 5.04% to 5.76%) per annum.(c)(d)(e)Other bank loans represent bank loans obtained by a subsidiary of the Company which are guaranteed by other thirdparties and carry interest at 5.6% to 6.65% (2010: 5.31%) per annum.Unsecured bank loans carry interest at 2.26% to 6.65% (2010: nil) per annum.During the year ended 31 December 2011, the Group received an interest-free loan of RMB15 million from the governmentfor financing the new plant construction. The loan is interest-free, secured by the Group’s prepaid land lease paymentsof RMB24,962,000 and repayable on demand.Of the above total borrowings, approximately RMB1,435,500,000 (2010: RMB1,318,600,000) and RMB1,939,065,000(2010: RMB1,340,381,000) are fixed-rate borrowings and variable-rate borrowings respectively.102
Page 1 and 2:
(Stock Code : 0175)
Page 3 and 4:
KeyFiguresTurnover(RMB’Billion)22
Page 5 and 6:
Annual Report 2011Geely Automobile
Page 7 and 8:
ManagementReportOrganisationChart
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18:
Page 19 and 20:
Page 21 and 22:
Page 23 and 24:
Page 25 and 26:
Page 27 and 28:
Page 29:
Page 32 and 33:
Page 34 and 35:
Page 36 and 37:
Page 38 and 39:
Page 40 and 41:
Page 42 and 43:
Page 44 and 45:
Page 46 and 47:
Page 48 and 49:
Page 50 and 51:
Page 52 and 53: Annual Report 2011Geely Automobile
Page 54 and 55: Accounts
Page 58 and 59: CONSOLIDATEDSTATEMENT OF COMPREHENS
Page 101: Annual Report 2011Geely Automobile
show all

0175 Geely Automobile Holdings Limited Annual Report 2011

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?