0175 Geely Automobile Holdings Limited Annual Report 2011

Annual Report 2011Geely Automobile Holdings LimitedNOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTSFor the year ended 31 December 201137. Financial Risk Management Objectives and Policies (Continued)Liquidity risk (Continued)2010TotalWeightedcarryingaverage Total amounteffective 0 to 60 61 to 90 91 days 1 to 2 Over undiscounted as atinterest rate days days to 1 year years 2 years cash flows 31 December% RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000 RMB’000Loans and receivablesTrade receivables 0.25 839,221 150,339 412,184 52,423 – 1,454,167 1,450,074Notes receivable – 1,568,774 625,306 3,879,907 – – 6,073,987 6,073,987Other receivables – 83,138 19,834 22,127 1,747 – 126,846 126,846Pledged bank deposits 2.25 247,987 – – – – 247,987 242,582Bank balances and cash 0.47 4,407,693 – – – – 4,407,693 4,393,075Financial assets at fair valuethrough profit or loss – 12,947 – – – – 12,947 12,947Available-for-sale financial assets 4.70 100,063 – – – – 100,063 100,0007,259,823 795,479 4,314,218 54,170 – 12,423,690 12,399,511Financial liabilities at amortised costTrade payables – 4,468,749 720,440 158,948 – – 5,348,137 5,348,137Notes payable – 110,564 50,010 174,590 – – 335,164 335,164Other payables – 369,259 9,135 37,605 33,148 – 449,147 449,147Loan from a non-controlling shareholderof a subsidiary of the Group 5.56 323 55 12,362 – – 12,740 9,213Borrowings 5.25 22,515 132,317 1,110,117 1,179,513 396,524 2,840,986 2,658,981Convertible bonds 6.58 8,232 4,116 62,430 50,081 1,762,665 1,887,524 1,483,0124,979,642 916,073 1,556,052 1,262,742 2,159,189 10,873,698 10,283,654Interest rate riskThe Group’s fair value interest rate risk relates primarily to convertible bonds (note 24) and fixed-rate bank borrowings(note 26). The Group does not apply any derivatives to hedge the fair value interest rate risk.The Group’s cash flow interest rate risk relates primarily to variable-rate borrowings (note 26).The interest rate profile of the Group as at the balance sheet date has been set out in the liquidity risk sectionof this note.At 31 December 2011, it is estimated that a general increase/decrease of 100 basis points in interest rates, withall other variables held constant, would have decreased/increased the Group’s profit after tax and retained profitsby approximately RMB15 million (2010: RMB10 million).120