Haier 2009 Annual Report Download - page 114
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31 December 2009
NOTES TO FINANCIAL STATEMENTS 財務報表附註
HAIER ELECTRONICS GROUP CO., LTD ANNUAL REPORT 2009
112
14. Related Party Transactions
In addition to the related party transactions detailed elsewhere in
these financial statements, the Group had the following material
transactions with related parties during the year.
(a) Qingdao Economy and Technology Development Zone Haier
Water Heater Co., Ltd. (“Qingdao Water Heater”), a wholly-
owned subsidiary of the Company, and Qingdao Jiaonan Haier
Microwave Manufacturing Co., Ltd. (“Qingdao Microwave”),
a non-wholly-owned subsidiary of Haier Corp, entered into
an asset acquisition agreement on 24 April 2009 pursuant to
which Qingdao Water Heater agreed to acquire some fixed
assets (the “Microwave Assets”) from Qingdao Microwave at
a cash consideration of approximately RMB5,865,000. The
consideration was determined with reference to the net assets
value of the Microwave Assets and was fully paid during
the year. The above transaction was completed on 17 July
2009.
(b) Qingdao Haier Washing Machine Co., Ltd. (“Qingdao Washing
Machine”), a non-wholly-owned subsidiary of the Company,
and Qingdao Haier Tooling Development and Manufacturing
Co., Ltd. (“Qingdao Tooling”), an associate of Haier Corp,
entered into an asset acquisition agreement on 24 April 2009,
pursuant to which Qingdao Washing Machine agreed to acquire
some fixed assets (the “Tooling Assets”) from Qingdao Tooling
at a cash consideration of approximately RMB1,026,000. The
consideration was determined with reference to the net assets
value of the Tooling Assets and was fully paid during the year.
The above transaction was completed on 24 April 2009.
14.
(a)
5,865,000
(b)
1,026,000