|
2016 |
2017 | ||
|
RMB’000 |
RMB’000 | ||
|
Share of net assets |
167,604 |
174,548 | |
|
Less: provision for impairment |
- |
- | |
|
167,604 |
174,548 |
The movement of investments in associates of the Group during the year is as follows:
|
2016 |
2017 | ||
|
RMB’000 |
RMB’000 | ||
|
Beginning of the year |
168,711 |
167,604 | |
|
Share of results after tax |
7,223 |
6,944 | |
|
Dividend |
(8,330) |
|
- |
|
End of the year |
167,604 |
174,548 |
As at 31 December 2017, the Group had direct interests in the following companies which are incorporated/established and are operating in the PRC:
|
Name of the entity |
Percentage of equity interest attributable to the Company |
Paid-in capital |
Principal activities |
|
|
|
|
|
|
Guangzhou Tiecheng Enterprise Company Limited (“Tiecheng”) |
49% |
RMB343,050,000 |
Properties leasing and trading of merchandise |
|
Shenzhen Guangzhou Railway Civil Engineering Company (“Shentu”) |
49% |
RMB64,000,000 |
Construction of railroad properties |
All the above associates are limited liability companies and they are unlisted companies. There are no significant contingent liabilities relating to the Group’s interest in the associates and there are no significant restrictions on the transfer of assets or earnings from the associates to the Group.
11 INVESTMENTS IN ASSOCIATES (CONTINUED)
Set out below are the summarised financial information for Tiecheng and Shentu which are accounted for using the equity method in the consolidated financial statements.
Summarised balance sheets
Summarized comprehensive income statements
Reconciliation of the summarised financial information presented to the carrying amount of its interests in associates as follows:
|
|
Tiecheng |
|
Shentu |
|
Total | ||||||
|
|
2016 |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
2017 |
|
RMB’000 |
|
RMB’000 |
|
RMB’000 |
|
RMB’000 |
|
RMB’000 |
|
RMB’000 | |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Opening net assets |
207,587 |
|
216,387 |
|
136,721 |
|
125,662 |
|
344,308 |
|
342,049 |
|
Profit for the year |
8,800 |
|
12,225 |
|
5,941 |
|
1,947 |
|
14,741 |
|
14,172 |
|
Dividend |
- |
|
- |
|
(17,000) |
|
- |
|
(17,000) |
|
- |
|
Closing net assets |
216,387 |
|
228,612 |
|
125,662 |
|
|
342,049 |
|
356,221 | |
|
Percentage of ownership interest |
49% |
|
49% |
|
49% |
|
49% |
|
49% |
|
49% |
|
Carrying value |
106,030 |
|
112,020 |
|
61,574 |
|
62,528 |
|
167,604 |
|
174,548 |