| 23 | INVESTMENTS IN JOINT VENTURES |
| 2017 | 2016 | |||||||
| RMB million | RMB million | |||||||
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Unlisted investments, cost |
369 | 352 | ||||||
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Share of net assets |
188 | 172 | ||||||
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| 557 | 524 | |||||||
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The movements in investments in joint ventures were as follows:
| 2017 | 2016 | |||||||
| RMB million | RMB million | |||||||
|
At 1 January |
524 | 518 | ||||||
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Additions |
17 | — | ||||||
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Share of results |
49 | 39 | ||||||
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Dividend received during the year |
(33 | ) | (33 | ) | ||||
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At 31 December |
557 | 524 | ||||||
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Particulars of the principal joint ventures, which are limited liability companies, are as follows:
|
Company name |
Place of establishment and |
Paid-up capital | Attributable equity interest |
Principal activities |
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| 2017 | 2016 | 2017 | 2016 | |||||||||||||||||
| Million | Million | |||||||||||||||||||
|
Shanghai Technologies Aerospace Co., Ltd. (“Technologies Aerospace”) (note) |
PRC/Mainland China 28 September 2004 |
USD | 73 | USD | 73 | 51 | % | 51 | % | Provision of repair and maintenance services | ||||||||||
|
Shanghai Eastern Union Aviation Wheels & Brakes Maintenance Services Overhaul Engineering Co., Ltd. (“Wheels & Brakes”) |
PRC/Mainland China 28 December 1995 |
USD | 2 | USD | 2 | 40 | % | 40 | % | Provision of spare parts repair and maintenance services | ||||||||||
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Eastern China Kaiya System Integration Co., Ltd. (“China Kaiya”) |
PRC/Mainland China 21 May 1999 |
RMB | 10 | RMB | 10 | 41 | % | 41 | % | Provision of computer systems development and maintenance services | ||||||||||
|
CAE Melbourne Flight Training Pty Ltd. (“CAE Melbourne”) |
Australia 9 March 2007 |
AUD | 11 | AUD | 11 | 50 | % | 50 | % | Provision of flight training services | ||||||||||
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Shanghai Hute Aviation Technology Co., Ltd. (“Shanghai Hute”) |
PRC/Mainland China 9 April 2003 |
RMB | 30 | RMB | 30 | 50 | % | 50 | % | Provision of equipment maintenance services | ||||||||||
|
Xi’an CEA SAFRAN Landing Systems Services Co., Ltd. (“XIESA”) |
PRC/Mainland China 12 July 2017 |
USD | 40 | — | 50 | % | — | Provision of aircraft, engine and other related components maintenance services | ||||||||||||
Note:
Under a joint venture agreement with a joint venture partner of Technologies Aerospace dated 10 March 2003, both parties have agreed to share the control over the economic activities of Technologies Aerospace with the joint venture partner. Any strategic financial and operating decisions relating to the activities of Technologies Aerospace require the unanimous consent of the Company and the joint venture partner.
The following table illustrates the aggregate financial information of the Group’s joint ventures that were not individually material:
| 2017 | 2016 | |||||||
| RMB million | RMB million | |||||||
|
Share of the joint ventures’ profit for the year |
49 | 39 | ||||||
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Share of the joint ventures’ total comprehensive income |
49 | 39 | ||||||
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Aggregate carrying amount of the Group’s interests in the joint ventures |
557 | 524 | ||||||
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