| 32. | Segment information |
For management purposes, the Group is organized into business units based on their products and services, and has two reportable operating segments as follows:
| • |
Yuchai primarily conducts manufacturing and sale of diesel engines which are mainly distributed in the PRC market. |
| • |
HLGE is engaged in hospitality and property development activities conducted mainly in the PRC and Malaysia. HLGE is listed on the Main Board of the Singapore Exchange. |
Management monitors the operating results of its business units separately for the purpose of making decisions about resource allocation and performance assessment.
|
Year ended December 31, 2015 |
Yuchai | HLGE | Corporate | Eliminations |
Consolidated financial statements |
|||||||||||||||
| RMB’000 | RMB’000 | RMB’000 | RMB’000 | RMB’000 | ||||||||||||||||
|
Revenue |
||||||||||||||||||||
|
Total external revenue |
13,671,931 | 61,506 | — | — | 13,733,437 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Results |
||||||||||||||||||||
|
Interest income |
35,557 | 1,415 | 10,003 | (5,661 | ) | 41,314 | ||||||||||||||
|
Interest expense |
(110,618 | ) | (7,595 | ) | (435 | ) | 5,661 | (112,987 | ) | |||||||||||
|
Impairment of property, plant and equipment |
(2,873 | ) | — | — | — | (2,873 | ) | |||||||||||||
|
Impairment of technology development cost |
(26,700 | ) | — | — | — | (26,700 | ) | |||||||||||||
|
Staff severance cost |
(8,385 | ) | — | — | — | (8,385 | ) | |||||||||||||
|
Depreciation and amortization |
(458,759 | ) | (10,458 | ) | (218 | ) | — | (469,435 | ) | |||||||||||
|
Share of (loss)/profit of associates and joint ventures, net of tax |
(10,230 | ) | 7,539 | — | — | (2,691 | ) | |||||||||||||
|
Income tax expense |
(161,731 | ) | (2,491 | ) | (12,596 | )(1) | — | (176,818 | ) | |||||||||||
|
Segment profit after income tax |
583,115 | 6,473 | (80,268 | ) | — | 509,320 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Year ended December 31, 2016 |
Yuchai | HLGE | Corporate | Eliminations |
Consolidated financial statements |
|||||||||||||||
| RMB’000 | RMB’000 | RMB’000 | RMB’000 | RMB’000 | ||||||||||||||||
|
Revenue |
||||||||||||||||||||
|
Total external revenue |
13,598,487 | 66,353 | — | — | 13,664,840 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Results |
||||||||||||||||||||
|
Interest income |
51,235 | 1,919 | 10,080 | (6,251 | ) | 56,983 | ||||||||||||||
|
Interest expense |
(73,028 | ) | (7,706 | ) | (648 | ) | 6,251 | (75,131 | ) | |||||||||||
|
Impairment of property, plant and equipment |
(3,297 | ) | — | — | — | (3,297 | ) | |||||||||||||
|
Staff severance costs |
(12,864 | ) | — | — | — | (12,864 | ) | |||||||||||||
|
Depreciation and amortization |
(467,177 | ) | (10,744 | ) | (239 | ) | — | (478,160 | ) | |||||||||||
|
Share of profit/(loss) of associates and joint ventures, net of tax |
112 | (3,724 | ) | — | — | (3,612 | ) | |||||||||||||
|
Income tax expense |
(141,272 | ) | (2,281 | ) | (16,717 | )(1) | — | (160,270 | ) | |||||||||||
|
Segment profit after income tax |
765,039 | (4,548 | ) | (36,883 | ) | — | 723,608 | |||||||||||||
|
Total assets |
17,537,583 | 449,994 | 2,111,248 | (1,502,319 | ) | 18,596,506 | ||||||||||||||
|
Total liabilities |
(8,419,018 | ) | (369,124 | ) | (151,472 | ) | 328,920 | (8,610,694 | ) | |||||||||||
|
Other disclosures |
||||||||||||||||||||
|
Investment in joint ventures |
173,781 | 2,570 | — | — | 176,351 | |||||||||||||||
|
Capital expenditure |
282,284 | 2,623 | 86 | — | 284,993 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
|
Year ended December 31, 2017 |
Yuchai | HLGE | Corporate | Eliminations |
Consolidated financial statements |
Consolidated financial statements |
||||||||||||||||||
| RMB’000 | RMB’000 | RMB’000 | RMB’000 | RMB’000 | US$’000 | |||||||||||||||||||
|
Revenue |
||||||||||||||||||||||||
|
Total external revenue |
16,165,245 | 57,197 | — | — | 16,222,442 | 2,563,030 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
|
Results |
||||||||||||||||||||||||
|
Interest income |
94,760 | 1,803 | 11,833 | (2,975 | ) | 105,421 | 16,656 | |||||||||||||||||
|
Interest expense |
(94,794 | ) | (3,983 | ) | (270 | ) | 2,975 | (96,072 | ) | (15,179 | ) | |||||||||||||
|
Gain on disposal of intangible assets |
115,235 | — | — | — | 115,235 | 18,206 | ||||||||||||||||||
|
Gain on disposal of subsidiaries |
— | 216,115 | — | — | 216,115 | 34,145 | ||||||||||||||||||
|
Gain on disposal of joint venture |
— | 107,976 | — | — | 107,976 | 17,059 | ||||||||||||||||||
|
Impairment of property, plant and equipment |
(20,845 | ) | — | — | — | (20,845 | ) | (3,293 | ) | |||||||||||||||
|
Impairment of technology development cost |
(40,000 | ) | — | — | — | (40,000 | ) | (6,320 | ) | |||||||||||||||
|
Staff severance cost |
(107,732 | ) | — | — | — | (107,732 | ) | (17,021 | ) | |||||||||||||||
|
Depreciation and amortization |
(433,921 | ) | (9,990 | ) | (270 | ) | — | (444,181 | ) | (70,177 | ) | |||||||||||||
|
Share of profit of associates and joint venture |
9,255 | 799 | — | — | 10,054 | 1,589 | ||||||||||||||||||
|
Income tax expense |
(190,573 | ) | (461 | ) | (29,133 | )(1) | — | (220,167 | ) | (34,785 | ) | |||||||||||||
|
Segment profit after tax |
1,089,233 | 322,481 | (6,644 | ) | — | 1,405,070 | 221,991 | |||||||||||||||||
|
Total assets |
19,623,882 | 451,096 | 2,444,012 | (1,503,931 | ) | 21,015,059 | 3,320,229 | |||||||||||||||||
|
Total liabilities |
(9,840,265 | ) | (66,920 | ) | (128,591 | )(2) | (7 | ) | (10,035,783 | ) | (1,585,582 | ) | ||||||||||||
|
Other disclosures |
||||||||||||||||||||||||
|
Investment in joint ventures |
193,476 | 2,626 | — | — | 196,102 | 30,983 | ||||||||||||||||||
|
Capital expenditure |
259,068 | 975 | 1,390 | — | 261,433 | 41,305 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Note:
| (1) |
This relates mainly to the withholding tax provisions for dividends from Yuchai. |
| (2) |
Included here are mainly the cumulative withholding tax provision for dividends that are expected to be paid from income earned after December 31, 2007 by Yuchai. |
Geographic information
Revenue from external customers:
| 31.12.2015 | 31.12.2016 | 31.12.2017 | 31.12.2017 | |||||||||||||
| RMB’000 | RMB’000 | RMB’000 | US$’000 | |||||||||||||
|
People’s Republic of China |
13,630,979 | 13,508,721 | 16,116,356 | 2,546,269 | ||||||||||||
|
Other countries |
102,458 | 156,119 | 106,086 | 16,761 | ||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
| 13,733,437 | 13,664,840 | 16,222,442 | 2,563,030 | |||||||||||||
|
|
|
|
|
|
|
|
|
|||||||||
The revenue information above is based on the location of the customer.
Revenue from one customer group amounted to RMB 4,839,617 (US$764,625) (2016: RMB 3,580,856; 2015: RMB 2,900,332), arising from sales by Yuchai segment.
Non-current assets
| 31.12.2016 | 31.12.2017 | 31.12.2017 | ||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
|
People’s Republic of China |
4,893,338 | 4,524,988 | 714,916 | |||||||||
|
Other countries |
95,430 | 94,779 | 14,974 | |||||||||
|
|
|
|
|
|
|
|||||||
| 4,988,768 | 4,619,767 | 729,890 | ||||||||||
|
|
|
|
|
|
|
|||||||
Non-current assets for this purpose consist of property, plant and equipment, prepaid operating leases, investment in joint ventures and associates, investment property, intangible asset and goodwill.