Haier 2006 Annual Report Download - page 19

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Haier Electronics Group Co., Ltd. Annual Report 2006
海爾電器集團有限公司 二零零六年年報
follow its “safety-based products” philosophy in the design of water
heater products and continue to lead the industry in safety
technologies. The Directors are confident that the water heater
business will continue to provide satisfactory contribution to the
Group.
MOBILE HANDSET BUSINESS
During the year, the Group disposed of the mobile handset business
to its parent company, the Haier Group, for a total consideration of
approximately HK$420 million in June 2006, realizing a disposal
gain of HK$156 million. Netting off the loss of this business up to
the date of disposal of HK$53 million, this business, being classified
as discontinued operation in the financial statements, contributed
HK$103 million in net profit to the Group for the year. The disposal
enabled the Group to focus on improving its core competencies in
the white goods businesses and to better direct resources to such
businesses.
LIQUIDITY AND FINANCIAL RESOURCES
The Group has maintained a healthy financial and liquidity position
with a current ratio of 115% as at 31 December 2006 (2005: 112%).
As at 31 December 2006, the Group had a cash balance of HK$627
million (2005: HK$592 million), bank and other borrowings of
approximately HK$137 million (2005: HK$243 million) and zero-
coupon 3-year convertible notes (the “Convertible Notes”) with a
face value of HK$170 million (2005: HK$233 million) and a liability
element of HK$162 million (2005: HK$212 million).
The Group has a net cash balance (cash balance less borrowings
and Convertible Notes) of HK$328 million as at 31 December 2006,
up substantially from HK$138 million as at 31 December 2005.
Due to our focus on cashflow management, the Group has been
able to maintain a very strong cash position and has been able to
record a net cash inflow from operating activities of HK$317 million
in 2006.
There is no material effect of seasonality on the Group’s borrowing
requirements.
The Group had capital commitments amounting to HK$252 million
as at 31 December 2006 (2005: HK$12 million), comprising
authorized but not contracted capital commitments of HK$169 million
and contracted capital commitments of HK$83 million, which were
mainly related to construction cost and purchase of machinery for
the expansion in production capacity of the Group’s businesses.
設計熱水器產品時奉行其「產品以安全為本」之
理念，繼續在安全技術上領導業界。董事有信
心熱水器業務將繼續為本集團帶來可觀收益。
移動手機業務
年內，本集團於二零零六年六月以總代價約
420,000,000港元向其母公司海爾集團出售移
動手機業務，取得出售收益156,000,000港
元。在扣除該業務截至出售日期止之虧損
53,000,000港元後，該業務（已於財務報表內
分類為已終止經營業務）於年內為本集團帶來
純利103,000,000港元。出售令本集團得以主
力增強其白色家電業務之核心能力，亦可將資
源更有效地調配至該等業務。
流動資金及財務資源
本集團之財政及流動資金狀況穩健，於二零零
六年十二月三十一日之流動比率為115%（二零
零五年：112%）。於二零零六年十二月三十一
日，本集團之現金結餘為627,000,000港元（二
零零五年：592,000,000 港元），而銀行及其
他借貸約為137,000,000港元（二零零五年：
243,000,000 港元），而零息三年期可換股票
據（「可換股票據」）面值為170,000,000港元（二
零零五年：233,000,000港元），其負債部分為
162,000,000港元（二零零五年：212,000,000
港元）。
本集團於二零零六年十二月三十一日擁有
328,000,000港元現金結餘淨額（現金結餘減借
貸及可換股票據），較於二零零五年十二月三
十一日之138,000,000港元大幅增加。由於本
集團著重現金流量管理，故此本集團得以維持
十分穩健之現金狀況，於二零零六年錄得
317,000,000港元經營活動現金流入淨額。
本集團之借貸需要並無重大季節性影響。
於二零零六年十二月三十一日，本集團之資本
承擔為252,000,000港元（二零零五年：
12,000,000港元），包括已批准但未訂約資本
承擔169,000,000港元及已訂約資本承擔
83,000,000港元，主要由於為提高本集團業務
產能之建設成本以及購買機器所致。