China XLX Fertiliser Ltd

More documents

Recommendations

Info

NOTES TO THE FINANCIAL STATEMENTS31 December 20085. Other income and expense(a)Other incomeGroup2008 2007Rmb’000 Rmb’000Sale of by-products 5,564 3,717Management fees from related parties 941 962Service fee income from related parties – 1Other service fee income – 11Net fair value gain on derivatives 1,763 –Realised exchange gain – 7,487Unrealised exchange gain – 11,116Gain on disposal of property, plant and equipment – 23Write-back of provision for PRC statutory welfare fund* 6,595 –Others 1,169 44716,032 23,764* Prior to FY2007, PRC statutory welfare fund is accrued based on 14% of the total monthly salary payable.Upon the incorporation of the Company in Singapore on 17 July 2006, its PRC subsidiary is considered as aForeign Owned Enterprise and is no longer required to contribute to PRC statutory welfare fund. Hence thesubsidiary has reversed all provisions made in prior years, amounting to Rmb 6,595,080, in the financial yearended 31 December 2008.(b)Other expenseDonations 1,445 –Realised exchange loss 1,667 –Unrealised exchange loss 1,436 –Inventory written down 6,000 –Loss on disposal of property, plant and equipment 1,648 –Write-off of property, plant and equipment 694 –Others 73 –12,963 –Annual Report 200862
NOTES TO THE FINANCIAL STATEMENTS31 December 20086. Profit before taxThis is determined after charging (crediting) the following and items in Notes 5 and 7:Group2008 2007Rmb’000 Rmb’000Amortisation of land use rights 1,388 217Write-off of technical know-how – 1,350Depreciation of property, plant and equipment 78,465 43,984(Write back)/allowance for doubtful trade receivables (83) 360Write-off of doubtful trade receivables 75 1,030Write-off of technical know-how – 1,350Write-off of tax recoverable – 732Professional fees 6,280 5,030Research expenses 41 993Transportation expenses 7,155 7,968Operating lease expenses- related parties 49 34,360- others 1,845 737Director fees 700 700Personnel expenses* (Note 7) 83,477 76,402* Included are directors’ remuneration and remuneration of key management personnel as disclosed in Note 8(b).7. Personnel expensesGroup2008 2007Rmb’000 Rmb’000Salaries and bonus 74,827 70,593Contribution to defined contribution plans 6,101 4,119Welfare expenses 2,549 1,69083,477 76,4022008 2007Number of employees 3,099 2,310China XLX Fertiliser Ltd.63
Page 1 and 2:
China XLXFertiliser Ltd.annual repo
Page 3 and 4:
ChinaXLXFertiliser Ltd.ureacompound
Page 5 and 6:
will still remain a necessity with
Page 7 and 8:
Agriculture forms thefoundation of
Page 9 and 10:
OUR PRODUCTSFruits ofour LaborAll o
Page 11 and 12:
Compound fertilisers can be categor
Page 13 and 14: Financial SnapshotRMB Million FY 20
Page 15 and 16: OUR DISTRIBUTION NETWORK13
Page 17 and 18: Third plant near completion with 40
Page 19 and 20: Social ResponsibilityTesting of soi
Page 21 and 22: Sewage treatment 污水处理FGD
Page 23 and 24: 2003 with a Degree in Accountancy.
Page 25: Corporate InformationBoard of Direc
Page 28 and 29: CORPORATE GOVERNANCE REPORTThe foll
Page 30 and 31: CORPORATE GOVERNANCE REPORTThe Arti
Page 32 and 33: CORPORATE GOVERNANCE REPORTThe Exec
Page 34 and 35: CORPORATE GOVERNANCE REPORTThe Audi
Page 36 and 37: CORPORATE GOVERNANCE REPORTDealing
Page 38 and 39: DIRECTORS’ REPORTBy virtue of Sec
Page 40 and 41: STATEMENT BY DIRECTORSWe, Liu Xingx
Page 42 and 43: INDEPENDENT AUDITORS’ REPORTTo th
Page 44 and 45: BALANCE SHEETSas at 31 December 200
Page 46 and 47: STATEMENTS OF CHANGES IN EQUITYfor
Page 48 and 49: CONSOLIDATED CASH FLOW STATEMENTfor
Page 50 and 51: NOTES TO THE FINANCIAL STATEMENTS31
Page 90 and 91: STATISTICS OF SHAREHOLDINGSas at 17
Page 92 and 93: NOTICE OF ANNUAL GENERAL MEETINGNOT
Page 94 and 95: NOTICE OF ANNUAL GENERAL MEETINGExp
Page 96 and 97: Notes:1. A member shall not be enti
Page 98 and 99: This page has been intentionally le
show all

China XLX Fertiliser Ltd

Create successful ePaper yourself

Delete template?

Save as template?