0175 Geely Automobile Holdings Limited Annual Report 2011

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Annual Report 2011Geely Automobile Holdings LimitedNOTES TO THE CONSOLIDATEDFINANCIAL STATEMENTSFor the year ended 31 December 201141. Subsidiaries (Continued)* The Company’s subsidiary in the PRC is wholly foreign-owned enterprise established for a period of 30 to 50 years.^The Company’s subsidiary in the PRC is sino-foreign equity joint venture established for a period of 30 to 50 years.@The Company has control over this subsidiary through contractual agreement with the non-controlling shareholder.#Translation of registered name in Chinese for identification purpose.None of the subsidiaries had issued any debt securities during the year or at the end of the year.Note:1. During the year, the Group entered into agreements with Zhejiang Geely Holding Group Company Limited and itssubsidiaries to acquire additional 8% interest in Shanghai Maple Guorun Automobile Company Limited (“ShanghaiMaple Guorun”), Hunan Geely Automobile Components Company Limited (“Hunan Geely”), Zhejiang Jirun AutomobileCompany Limited (formerly known as “Zhejiang Geely Automobile Company Limited”) (“Zhejiang Jirun”), Zhejiang KingkongAutomobile Company Limited (“Zhejiang Kingkong”) and Zhejiang Ruhoo Automobile Company Limited (“Zhejiang Ruhoo”),increasing each of its equity interest from 91% to 99%, at a cash consideration of RMB116,591,000, RMB135,010,000,RMB350,477,000, RMB162,805,000 and RMB52,581,000 respectively. Details of the acquisition have been set out inthe Company’s announcement dated 25 November 2011.The acquisition of additional 8% interest in Shanghai Maple Guorun, Hunan Geely and Zhejiang Jirun were completedduring the year.Subsequent to the year end, the remaining acquisition of additional 8% interest in Zhejiang Kongkong and ZhejiangRuhoo were completed.2. During the year, the Group entered into an agreement with certain third parties to dispose 35% interest in Zhejiang ShouLa Shou Automobile Services Company Limited, reducing its equity interest to 65%. The proceeds on partial disposal(without losing control) of RMB1,750,000 were satisfied by cash.131
Annual Report 2011Geely Automobile Holdings LimitedDIRECTORYExecutive Directors:Mr. Li Shu Fu (Chairman)Mr. Yang Jian (Vice Chairman)Mr. Gui Sheng Yue(Chief Executive Officer)Mr. Ang Siu Lun, LawrenceMr. Liu Jin LiangDr. Zhao FuquanMs. Wei Mei(Appointed on 17 January 2011)Mr. Li Dong Hui, Daniel(Appointed on 23 May 2011)Mr. An Cong Hui(Appointed on 30 December 2011)Non-executive Directors:Mr. Wang YangMr. Yin Da Qing, Richard(Re-designated on 30 December 2011)Independent NonexecutiveDirectors:Mr. Lee Cheuk Yin, DannisMr. Song LinMr. Yeung Sau Hung, AlexMr. Fu Yu Wu(Appointed on 30 December 2011)Audit Committee:Mr. Lee Cheuk Yin, Dannis(Committee’s Chairman)Mr. Song LinMr. Yeung Sau Hung, AlexMr. Fu Yu WuRemuneration Committee:Mr. Yeung Sau Hung, Alex(Appointed as Committee’sChairman on 30 December 2011)Ms. Wei MeiMr. Lee Cheuk Yin, DannisMr. Fu Yu WuNomination Committee:Mr. Fu Yu Wu(Appointed as Committee’sChairman on 30 December 2011)Mr. Gui Sheng YueMr. Yeung Sau Hung, AlexMr. Lee Cheuk Yin, DannisCompany Secretary:Mr. Cheung Chung Yan, DavidAuditors:Grant Thornton Jingdu TianhuaLegal Advisoron Hong Kong Law:Sidley AustinLegal Advisor on CaymanIslands Law:Maples and CalderPrincipal Bankersin Hong Kong:Standard Chartered Bank(Hong Kong) LimitedThe Hong Kong and Shanghai BankingCorporation LimitedCITIC Bank International LimitedHead Office and PrincipalPlace of Business:Room 2301, 23rd Floor,Great Eagle Centre,23 Harbour Road, Wan Chai,Hong KongTelephone: (852) 2598 3333Facsimile: (852) 2598 3399Email: general@geelyauto.com.hkRegistered Office:P.O. Box 309Ugland HouseGrand CaymanKY1-1104Cayman IslandsHong Kong ShareRegistrar & TransferOffice:Union Registrars Limited18/F., Fook Lee Commercial CentreTown Place,33 Lockhart Road,Wan Chai, Hong Kong.Investor & MediaRelations:Prime InternationalConsultants LimitedDesign & Production:HeterMedia Services LimitedListing information:The Stock Exchange ofHong Kong LimitedStock Code: 0175Company’s Website:http://www.geelyauto.com.hk132
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0175 Geely Automobile Holdings Limited Annual Report 2011

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