Haier 2009 Annual Report Download - page 147
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31 December 2009
NOTES TO FINANCIAL STATEMENTS 財務報表附註
海爾電器集團有限公司 145
31. Reserves
(a) Group
The amounts of the Group’s reserves and the movements
therein for the current and prior years are presented in the
consolidated statement of changes in equity on page 59 of
the financial statements.
Pursuant to the relevant PRC laws and regulations, certain of
the Group’s subsidiaries registered in the PRC are required to
transfer a portion of their profits to reserve funds. These funds
are non-distributable in the form of cash dividends. When
determining the appropriations to these funds, the net profits
of these subsidiaries are determined in accordance with the
applicable financial rules and regulations of the PRC.
The Group’s capital reduction reserve arose from the reduction
in the nominal value of each of the issued shares of the
Company from HK$0.10 to HK$0.01 by the cancellation of
paid-up capital of HK$0.09 on each of the issued shares of the
Company effective from 8 March 2007. The Group’s capital
reserve originally represented the difference between the
credit arising from the capital reduction of HK$1,657,866,000
(equivalent to RMB1,758,526,000) and the amount transferred
to eliminate the accumulated losses of the Group of
HK$1,196,370,000 (equivalent to RMB1,186,521,000).
The capital redemption reserve arose from the share repurchases
in the previous year. Further details of these share repurchases
are set out in note 29 to the financial statements.
The contributed surplus of the Company represents the excess
of the fair value of the shares of the subsidiaries acquired,
over the nominal value of the Company’s shares issued in
exchange therefor. Under the Companies Act 1981 of Bermuda
(as amended), the contributed surplus is distributable to
shareholders subject to the Companies Act 1981 of Bermuda
(as amended) and bye-laws of the Company.
The share option reserve comprise the fair value of share options
granted which are yet to be exercised, as further explained in
the accounting policy for share-based payment transactions in
note 2.4 to the financial statements. The amount will either
be transferred to the share premium account when the related
options are exercised, or be transferred to retained profits
should the related options expire or be forfeited.
31.
(a)
59
0.09
0.10
0.01
1,657,866,000
1,758,526,000
1,196,370,000
1,186,521,000
29
2.4