China Communications Services Corporation Limited Annual Report 2015
157
NOTES TO THE
CONSOLIDATED FINANCIAL STATEMENTS
For the year ended 31 December 2015
42. RELATED PARTIES
(continued)
(a) Transactions with CTC Group and other related parties
(continued)
Amounts due from/to CTC Group and other related parties included in respective balances are summarised as
follows:
2015
2014
RMB’000
RMB’000
Accounts and bills receivable, net
16,155,020
13,612,267
Prepayments and other current assets
1,430,237
1,468,131
Total amounts due from CTC Group and other related parties
17,585,257
15,080,398
Interest-bearing borrowings
13,280
13,280
Accounts and bills payable
1,777,246
2,238,518
Receipts in advance for contract work
291,188
81,079
Accrued expenses and other payables
846,705
780,636
Total amounts due to CTC Group and other related parties
2,928,419
3,113,513
As at 31 December 2015, the Group has recognised impairment losses of RMB152 million (2014: RMB26 million) for
bad and doubtful debts in respect of amounts due from CTC Group and other related parties.
As at 31 December 2015, the Group has capital commitments to CTC Group and other related parties for acquisition
and construction of property, plant and equipment and other assets as follows:
2015
2014
RMB’000
RMB’000
Contracted for but not provided
280,373
4,863
As at 31 December 2015, the Group total future minimum lease payments to CTC Group and other related parties
under non-cancellable operating leases were payable as follows:
2015
2014
RMB’000
RMB’000
Within 1 year
62,310
90,095
After 1 year but within 5 years
122,553
160,735
After 5 year
88,103
89,141
272,966
339,971
The directors of the Company 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 reasonable so far as the shareholders
of the Company are concerned.
