notes to the financial statements - Sino

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REPORT OF THE DIRECTORSThe directors herein present their report and the audited financial statements of the Group for the year ended 31December 2008.PRINCIPAL ACTIVITIESThe principal activity of the Company is investment holding. The subsidiaries are principally engaged in corporate ITapplication services, financial information services and distance learning education services.SEGMENT INFORMATIONParticulars of the Group’s turnover and segment information for the year are set out in notes 5 and 6 to the financialstatements respectively.RESULTS AND APPROPRIATIONSThe results of the Group for the year are set out in the consolidated income statement on page 33.The directors do not recommend the declaration of the payment of a final dividend for the year ended 31 December2008 (2007: Nil).FIVE-YEAR FINANCIAL SUMMARYA summary of the results and of the assets and liabilities of the Group for the last five financial years is set out on page106.PROPERTY, PLANT AND EQUIPMENTDetails of the movements in property, plant and equipment of the Company and the Group during the year are set outin note 14 to the financial statements.SUBSIDIARIES AND ASSOCIATEParticulars of the Company’s principal subsidiaries and associate as at 31 December 2008 are set out in notes 17 and 18to the financial statements respectively.BANK BORROWINGSThe Group’s bank borrowings as at 31 December 2008 is set out in note 33 to the financial statements.SHARE CAPITAL AND SHARE PREMIUMDuring the year, no movements in share premium of the Company. Details of the share capital of the Company duringthe year are set out in note 35 to the financial statements.Sino-i Technology Limited Annual Report 200813
REPORT OF THE DIRECTORSRESERVESDetails of the movements in the reserves of the Company and the Group during the year are set out in note 37 to thefinancial statements.DISTRIBUTABLE RESERVESAs at 31 December 2008, the amount of the Company’s reserves available for distribution was approximatelyHK$355,237,000. In addition, the Company’s share premium account with a balance of HK$39,194,000 may bedistributed in the form of fully paid bonus shares.MAJOR CUSTOMERS AND SUPPLIERSThe Group’s sales to the five largest customers and purchases from the five largest suppliers for the year ended 31December 2008 accounted for less than 30% of the Group’s total turnover and purchases respectively.DIRECTORS’ EMOLUMENTSDetails of directors’ emoluments are set out in note 41 to the financial statements.DIRECTORS’ INTEREST IN COMPETING BUSINESSAs at 31 December 2008, none of the directors of the Company has an interest in a business which competes or maycompete with the business of the Group.PENSION COSTSDetails of retirement benefit plans in respect of the year are set out in note 46 to the financial statements.DIRECTORSThe directors of the Company during the year and up to the date of this report were:Mr. YU Pun Hoi (Chairman)Ms. CHEN DanMr. QIN Tian XiangMr. WANG Gang (appointed on 10 March 2009)Ms. LIU Rong (appointed on 10 March 2009)Mr. LUO Ning #Mr. LAM Bing Kwan #Mr. HUANG Yaowen*Prof. JIANG Ping*Mr. FUNG Wing Lap*Mr. CHAN Lap Stanley* (retired on 26 May 2008)#Non-executive directors* Independent non-executive directors14 Sino-i Technology Limited Annual Report 2008
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Page 37 and 38: BALANCE SHEETas at 31 December 2008
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notes to the financial statements - Sino

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