22. DEFERRED TAX ASSETS AND LIABILITIES
Deferred tax assets and deferred tax liabilities before offset are attributable to the items detailed in the table below:
|
|
|
Assets |
|
Liabilities |
|
||||
|
|
|
December 31, |
|
December 31, |
|
||||
|
|
|
2016 |
|
2017 |
|
2016 |
|
2017 |
|
|
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
|
Receivables and inventories |
|
87 |
|
381 |
|
— |
|
— |
|
|
Accruals |
|
391 |
|
1,925 |
|
— |
|
— |
|
|
Cash flow hedges |
|
27 |
|
165 |
|
(242 |
) |
(50 |
) |
|
Property, plant and equipment |
|
11,264 |
|
14,150 |
|
(14,615 |
) |
(9,928 |
) |
|
Tax losses carried forward |
|
2,477 |
|
2,325 |
|
— |
|
— |
|
|
Available-for-sale securities |
|
— |
|
117 |
|
— |
|
— |
|
|
Intangible assets |
|
260 |
|
227 |
|
— |
|
(563 |
) |
|
Others |
|
133 |
|
180 |
|
(229 |
) |
(264 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Deferred tax assets/(liabilities) |
|
14,639 |
|
19,470 |
|
(15,086 |
) |
(10,805 |
) |
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2016 and 2017, certain subsidiaries of the Company did not recognize deferred tax of deductible loss carried forward of RMB 19,194 and RMB 20,821, respectively, of which RMB 3,833 and RMB 5,938 were incurred for the years ended December 31, 2016 and 2017, respectively, because it was not probable that the related tax benefit will be realized. Those deductible tax losses carried forward of RMB 2,508, RMB 4,462, RMB 4,080, RMB 3,833 and RMB 5,938 will expire in 2018, 2019, 2020, 2021, 2022 and after, respectively.
Periodically, management performed assessment on the probability that future taxable profit will be available over the period which the deferred tax assets can be realized or utilized. In assessing the probability, both positive and negative evidence was considered, including whether it is probable that the operations will have sufficient future taxable profits over the periods which the deferred tax assets are deductible or utilized and whether the tax losses result from identifiable causes which are unlikely to recur. During the years ended December 31, 2016 and 2017, write-down of deferred tax assets amounted to RMB 811 and RMB 26 (Note 9) .
Movements in deferred tax assets and liabilities are as follows:
|
|
|
Balance as of |
|
Recognized in |
|
Recognized in |
|
Others |
|
Balance as of |
|
|
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
|
Receivables and inventories |
|
2,677 |
|
(1,128 |
) |
3 |
|
— |
|
1,552 |
|
|
Accruals |
|
258 |
|
155 |
|
— |
|
— |
|
413 |
|
|
Cash flow hedges |
|
887 |
|
— |
|
(637 |
) |
— |
|
250 |
|
|
Property, plant and equipment |
|
(8,635 |
) |
(113 |
) |
(383 |
) |
— |
|
(9,131 |
) |
|
Tax losses carried forward |
|
3,474 |
|
2,398 |
|
11 |
|
— |
|
5,883 |
|
|
Embedded derivative component of the convertible bonds |
|
282 |
|
— |
|
— |
|
(282 |
) |
— |
|
|
Available-for-sale securities |
|
3 |
|
1 |
|
(4 |
) |
— |
|
— |
|
|
Intangible assets |
|
206 |
|
(3 |
) |
— |
|
— |
|
203 |
|
|
Others |
|
7 |
|
33 |
|
— |
|
— |
|
40 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net deferred tax (liabilities)/assets |
|
(841 |
) |
1,343 |
|
(1,010 |
) |
(282 |
) |
(790 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of |
|
Recognized in |
|
Recognized in |
|
Others |
|
Balance as of |
|
|
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
|
Receivables and inventories |
|
1,552 |
|
(1,505 |
) |
6 |
|
34 |
|
87 |
|
|
Accruals |
|
413 |
|
(22 |
) |
— |
|
— |
|
391 |
|
|
Cash flow hedges |
|
250 |
|
— |
|
(465 |
) |
— |
|
(215 |
) |
|
Property, plant and equipment |
|
(9,131 |
) |
6,063 |
|
(392 |
) |
109 |
|
(3,351 |
) |
|
Tax losses carried forward |
|
5,883 |
|
(3,426 |
) |
20 |
|
— |
|
2,477 |
|
|
Available-for-sale securities |
|
— |
|
(139 |
) |
(7 |
) |
146 |
|
— |
|
|
Intangible assets |
|
203 |
|
(1 |
) |
— |
|
58 |
|
260 |
|
|
Others |
|
40 |
|
(136 |
) |
— |
|
— |
|
(96 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net deferred tax (liabilities)/assets |
|
(790 |
) |
834 |
|
(838 |
) |
347 |
|
(447 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as |
|
Recognized in |
|
Recognized in |
|
Others |
|
Acquisition |
|
Balance as |
|
|
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
|
Receivables and inventories |
|
87 |
|
300 |
|
(5 |
) |
(1 |
) |
— |
|
381 |
|
|
Accruals |
|
391 |
|
1,534 |
|
— |
|
— |
|
— |
|
1,925 |
|
|
Cash flow hedges |
|
(215 |
) |
9 |
|
313 |
|
8 |
|
— |
|
115 |
|
|
Property, plant and equipment |
|
(3,351 |
) |
8,475 |
|
287 |
|
(8 |
) |
(1,181 |
) |
4,222 |
|
|
Tax losses carried forward |
|
2,477 |
|
(135 |
) |
(17 |
) |
— |
|
— |
|
2,325 |
|
|
Available-for-sale securities |
|
— |
|
117 |
|
— |
|
— |
|
— |
|
117 |
|
|
Intangible assets |
|
260 |
|
(27 |
) |
— |
|
— |
|
(569 |
) |
(336 |
) |
|
Others |
|
(96 |
) |
44 |
|
4 |
|
— |
|
(36 |
) |
(84 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net deferred tax (liabilities)/assets |
|
(447 |
) |
10,317 |
|
582 |
|
(1 |
) |
(1,786 |
) |
8,665 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|