NOTES TO
FINANCIAL STATEMENTS
December 31, 2015
105
CITIC ENVIROTECH LTD.
Annual
Report
2015
14 ASSOCIATES
Group
Company
December
31,
March
31,
December
31,
March
31,
2015
2015
2015
2015
$’000
$’000
$’000
$’000
Unquoted equity shares, at cost
10,611
–
10,611
–
Share of post-acquisition loss and reserves
(3)
–
–
–
10,608
–
10,611
–
Details of the associates are as follows:
Name of associates
Principal activities/Country
of incorporation and operation
Effective
interest and
voting power held
December
31,
March
31,
2015
2015
%
%
Beijing Beipai Membrane
Technology Co., Ltd
(a)
Manufacturing of membrane
products/PRC
49%
–
Chengdu Xingrong Environment
Co., Ltd
(b)
Environmental engineering / PRC
49%
–
Notes on auditors:
(a)
Audited by Ruihua Certified Public Accountant, PRC. Not material for Group’s consolidation purposes.
(b)
Audited by ShineWing Certified Public Accoutants, PRC. Not material for Group’s consolidation purposes.
The board and Audit Committee are satisfied that the appointments of the above auditors of the
associates do not compromise the standard and effectiveness of the audit of the Group.
Aggregate financial information of the associates that are not individually material are set out below:
Group
December
31,
2015
March
31,
2015
$’000
$’000
Total assets
55,384
–
Total liabilities
(33,736)
–
Net assets
21,648
–
Group’s share of associates’ net assets
10,608
–
Revenue
10,589
–
Loss for the year
(6)
–
Group’s share of associates’ loss for the year
(3)
–
