China XLX Fertiliser Ltd

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NOTES TO THE FINANCIAL STATEMENTS31 December 20088. Related party transactions(a)In addition to those related party information disclosed elsewhere in the financial statements, theGroup had the following transactions with related parties on terms agreed between the parties:Group2008 2007Rmb’000 Rmb’000Sale of finished goods – 319Sale of raw materials and consumables – 137Sale of water, electricity and steam 2,726 2,737Service fee income 82 72Purchase of finished goods – 728Purchase of raw materials and consumables 15,065 2,681Service fee expenses 2,413 766Operating lease expenses 492 34,360Interest expense 5,835 –Payment on behalf for purchase of raw materials – 1,998Purchase of property, plant and equipment – 209,909These transactions were between the Group and Henan Xinlianxin Chemicals., Ltd and its subsidiariesand associates which certain directors have significant influence over but which did not form part ofthe Relevant Business acquired by the Group. The executive directors and executive officers have intotal a 24% equity interest in Henan Xinlianxin Chemicals., Ltd.(b)Compensation of directors and key management personnelSalaries and bonus 9,988 9,977Contribution to defined contribution plans 70 8910,058 10,066Comprise amounts paid to:- Directors of the Company 8,447 8,145- Other key management personnel 1,611 1,92110,058 10,066Annual Report 200864
NOTES TO THE FINANCIAL STATEMENTS31 December 20089. Financial income and expense(a)Financial incomeGroup2008 2007Rmb’000 Rmb’000Interest income- bank deposits 2,872 7,996- others 1,355 14,227 7,997(b)Financial expenseInterest expense- bank loans 26,387 14,766- convertible loan – 3,041- government loans 404 25526,791 18,06210. Income tax expenseMajor components of income tax expenseThe major components of income tax expense for the financial years ended 31 December 2008 and 2007are:Group2008 2007Rmb’000 Rmb’000Income statement:Current income tax- Current income taxation – 930- (Over)/under provision in respect of prior years (523) 487(523) 1,417Deferred income tax- Current deferred income tax 3,892 14,725Income tax expense recognised in the income statement 3,369 16,142China XLX Fertiliser Ltd.65
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China XLXFertiliser Ltd.annual repo
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ChinaXLXFertiliser Ltd.ureacompound
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will still remain a necessity with
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Agriculture forms thefoundation of
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OUR PRODUCTSFruits ofour LaborAll o
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Compound fertilisers can be categor
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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
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China XLX Fertiliser Ltd

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