Annual Report - Li Ning

Notes to the Consolidated Financial Statements (Continued)
(All amounts in RMB unless otherwise stated)
11. Interest in jointly controlled entities (Continued)
The following financial information reflects the Group’s 50% share of the consolidated assets and liabilities, and consolidated
turnover and results of Li-Ning Aigle Ventures and its subsidiary as at and for the year ended 31 December 2006, which have
been included in the consolidated balance sheet and income statement.
As at 31 December
2006 2005
’000 ’000
Assets
Non-current assets
– Property, plant and equipment 937 –
– Intangible assets 46 –
Current assets
– Inventories 12,571 –
– Accounts and other receivables 3,314 –
– Cash and cash equivalents 16,934 5
Total assets 33,802 5
Liabilities
Non-current liabilities
– Borrowings from shareholders 12,559 –
Current liabilities
– Trade and other payables 5,406 63
Total liabilities 17,965 63
Net assets/(liabilities) 15,837 (58)
Year ended 31 December
2006
2005
’000 ’000
Turnover 5,469 –
Cost of sales (3,012) –
Gross profit 2,457 –
Distribution costs (9,446) –
Administrative expenses (2,253) (63)
Finance cost – net (14)
Net loss (9,256) (63)
As at 31 December 2006 and 2005, the Group did not have any contingent liabilities in respect of its interest in jointly controlled
entities.
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