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Notes To The Consolidated Financial Statements
(Expressed in Renminbi)
Annual Report 2011 /
1
45 Related parties
(continued)
(a) Transactions with CTC Group
(continued)
Amounts due from/to CTC Group included in respective balances are summarised as follows:
2011
2010
RMB’000
RMB’000
Accounts and bills receivable, net
7,578,394
6,950,121
Prepayments and other current assets
1,227,264
1,364,133
Other non-current assets
3,314
–
Total amounts due from CTC Group
8,808,792
8,314,254
Interest-bearing borrowings
813,280
1,028,509
Accounts and bills payable
807,506
231,136
Receipts in advance for contract work
43,642
50,154
Accrued expenses and other payables
1,003,844
993,963
Total amounts due to CTC Group
2,668,272
2,303,762
As at 31 December 2011, the Group has recognised impairment losses of RMB7,472 thousand (2010:
RMB3,295 thousand) for bad and doubtful debts in respect of amounts due from CTC Group.
As at 31 December 2011, the Group has capital commitments to CTC Group for acquisition and
construction of property, plant and equipment and other assets as follows:
2011
2010
RMB’000
RMB’000
Authorised and contracted for
6,545
5,835
As at 31 December 2011, the Group total future minimum lease payments to CTC Group under non-
cancellable operating leases were payable as follows:
2011
2010
RMB’000
RMB’000
Within 1 year
43,587
36,254
After 1 year but within 5 years
68,978
27,926
After 5 year
31,687
33,710
144,252
97,890
The directors are of the opinion that the above transactions with related parties were conducted on
normal commercial terms in the ordinary course of business and the terms are fair and reasonable so
far as the shareholders of the Company are concerned.