Interim Report 2012 - TodayIR.com

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Notes to Financial Statements30 June 201236. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued)Liquidity risk (Continued)The maturity profile of the Group’s financial liabilities as at the end of the reporting period, based on the contractual undiscountedpayments, is as follows (continued):31 December 2011Less than 3 to 12 1 to 5On demand 3 months months years TotalRMB’000 RMB’000 RMB’000 RMB’000 RMB’000Interest-bearing bank loans 61,482 74,196 38,620 174,298Trade payables 2,122 95,318 97,440Dividends payable 192,314 192,314Financial liabilities included in other payablesand accruals 141,334 141,334Long-term payables 32,622 32,622335,770 156,800 74,196 71,242 638,008Capital managementThe Group’s objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to providereturns for shareholders and to maintain an optimal capital structure to reduce the cost of capital.The Group manages its capital structure and makes adjustments to it in light of changes in economic conditions. To maintain or adjustthe capital structure, the Group may adjust the dividend payment to shareholders, return capital to shareholders, issue new shares orsell assets to reduce debt. No changes in the objectives, policies or processes were made during this reporting period.INTERIM REPORT 2012 83
Notes to Financial Statements30 June 201236. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (Continued)Capital management (Continued)The Group monitors capital using a gearing ratio, which is net debt divided by the adjusted capital plus net debt. The Group’s policyis to maintain the gearing ratio below 70%. Net debt includes interest-bearing borrowings, trade payables and other payables andaccruals, less cash and cash equivalents. Capital includes equity attributable to owners of the Company. The gearing ratios as at theend of each of the reporting periods were as follows:30 June 31 December2012 2011RMB’000RMB’000Interest-bearing bank borrowings 129,637 167,466Trade payables 101,269 97,440Other payables and accruals 173,125 208,571Less: Cash and cash equivalents (80,617) (179,956)Net debt 323,414 293,521Equity attributable to owners of the Company 412,505 354,260Capital and net debt 735,919 647,781Gearing ratio 43.9% 45.3%37. EVENTS AFTER THE REPORTING PERIODIn addition to the subsequent events detailed elsewhere in the financial statements, the shares of the Company were listed on theMain Board of the Stock Exchange on 4 July 2012.38. APPROVAL OF THE FINANCIAL STATEMENTSThe financial statements were approved and authorised for issue by the board of directors on 29 August 2012.84XIAO NAN GUO RESTAURANTS HOLDINGS LIMITED
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Management Discussion and AnalysisI
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Independent Auditors’ ReportOpini
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Consolidated Statement of Comprehen
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Consolidated Statement of Financial
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Consolidated Statement of Cash Flow
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Notes to Financial Statements30 Jun
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