China Zenix Auto International Ltd | CIK:0001506756 | 3

  • Filed: 4/27/2018
  • Entity registrant name: China Zenix Auto International Ltd (CIK: 0001506756)
  • Generator: Donnelley Financial Solutions
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1506756/000119312518136578/0001193125-18-136578-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1506756/000119312518136578/zx-20171231.xml
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  • ifrs-full:DisclosureOfOtherOperatingIncomeExpenseExplanatory

    6. OTHER INCOME, GAIN AND LOSS

     

         2015      2016      2017      2017  
         RMB’000      RMB’000      RMB’000      US$’000  

    Interest income

         14,464        11,126        11,020        1,694  

    Net gain (loss) from sales of scrap materials

         (1,945 )      (1,715 )      5,050        776  

    Insurance compensation income (note a)

         —          —          3,311        509  

    Government grants (note b)

         3,095        1,473        —          —    

    Release of deferred income (note c)

         796        796        797        122  

    Others

         —          —          993        153  
      

     

     

        

     

     

        

     

     

        

     

     

     
         16,410        11,680        21,171        3,254  
      

     

     

        

     

     

        

     

     

        

     

     

     

    Notes:

     

      (a) In February 2014, three minority shareholders of the Company filed a claim against the Company in the Eastern Caribbean Supreme Court of the British Virgin Islands. On February 17, 2017, the claimants, the Company and the three other defendants reached a confidential agreement to settle the claim. The settlement does not obligate the Company to make any payment to the claimants nor would the terms of the settlement affect the Company’s operations. Each party had also agreed to be responsible for their own legal costs. During 2017, the Company claimed and received an aggregate amount of approximately RMB 3.3 million from three insurers according to the insurance reimbursement policy of Directors & Officers Liability.
      (b) Government grants comprised various incentives and subsidies received from the PRC government. There were no unfulfilled conditions attaching to these government grants.
      (c) A grant of RMB15,000,000 was received from the PRC government in 2009 to subsidize the Group’s construction of a new manufacturing plant and related capital expenditures. It has been presented as deferred income (Note 22) and released to income over the useful lives of the related assets.