Annual Report 2007 - Hmdatalink.com hm datalink

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Notes to the consolidated financial statementsfor the year ended 31 December 200729. CONNECTED AND RELATED PARTY TRANSACTIONSCertain transactions fell under the definition of continuing connected transactions under the Listing Rules aredisclosed in Directors’ Report.In addition to the transactions/information disclosed elsewhere in these consolidated financial statements,during the year, the Group had the following material transactions with connected and related parties:(a)Transactions2007 2006Name of related parties Nature of transactions HK$’000 HK$’000AssociatesZhejiang Geely Automobile Sales of automobile 136,678 126,796Company Limitedparts and components() Dividend income 183,463 241,096Shanghai Maple Guorun Dividend income 22,556 53,683Automobile Company Limited()Zhejiang Kingkong Automobile Rental expense 240 –Company Limited()Manganese Bronze Holdings plc Dividend income 3,086 –Related company (Note) Rental expense 83 326Zhejiang Guo Mei DecorationMaterials Company Limited()Note:The Group and the related company are under the same common substantial shareholder.GEELY AUTOMOBILE HOLDINGS LIMITED101ANNUAL REPORT 2 0 0 7
Notes to the consolidated financial statementsfor the year ended 31 December 200729. CONNECTED AND RELATED PARTY TRANSACTIONS (Continued)(b)Compensation of key management personnelThe remuneration of directors and other members of key management during the year were asfollows:2007 2006HK$’000HK$’000Short-term benefit 7,118 5,090Retirement benefits scheme contribution 65 48Share-based payments 5,460 4,66012,643 9,798The remuneration of directors and key management are determined by the remuneration committeehaving regard to the performance of individuals and market trends.30. CAPITAL RISK MANAGEMENTThe Group manages its capital to ensure that entities in the Group will be able to continue as a goingconcern while maximising the return to shareholders through the optimisation of the debt and equitybalance. The Group’s overall strategy remains unchanged from prior year.The capital structure of the Group consists of debt (which includes borrowings, convertible bonds andamount due to immediate holding company) and equity attributable to equity holders of the Company,comprising issued share capital and reserves.Gearing ratioThe Group’s Board of Directors reviews the capital structure on a regular basis. As part of this review, theBoard of Directors considers the cost of capital and the risks associated with each class of capital. The Groupdoes not have a specific target gearing ratio determined as the proportion of debt to equity but closelymonitors the fluctuations of the gearing ratio.GEELY AUTOMOBILE HOLDINGS LIMITED102ANNUAL REPORT 2 0 0 7
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Supplying the SAFEST, the MOST ENER
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Financial Summary and HighlightsFin
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Chairman’s StatementLi Shu Fu,Cha
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Management Discussion and AnalysisO
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Organisation Chart (as of 31 Decemb
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Directors’ ReportCompanies contai
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