Haier 2009 Annual Report Download - page 153
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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 151
35. Financial Instruments By Category (Cont’d)
Financial liabilities
Financial liabilities
at amortised cost
2009 2008
年
RMB’000 RMB’000
Other payables (note 25) 25 154,750 157,870
Due to subsidiaries 74,885 74,915
229,635 232,785
35.
36. Financial Risk Management Objectives and
Policies
The Group’s principal financial instruments comprise interest-bearing
borrowings and cash and short term deposits. The main purpose
of these financial instruments is to raise finance for the Group’s
operations or acquisitions. The Group has various other financial
assets and liabilities such as trade and bills receivables and trade
payables, which arise directly from its operations.
It is, and has been, throughout the year under review, the
Group’s policy that no trading in financial instruments shall be
undertaken.
The main risks arising from the Group’s financial instruments are
interest rate risk, foreign currency risk, credit risk and liquidity risk.
The board review and agrees policies for managing each of these
risks and they are summarised below.
Interest rate risk
The Group’s exposure to the risk of changes in market interest rates
relates primarily to the Group’s borrowings with floating interest
rates. The Group does not use derivative financial instruments to
hedge its exposure to interest rate risk.
The following table demonstrates the sensitivity to a reasonably
possible change in interest rates, with all other variables held
constant, of the Group’s profit before tax (through the impact on
floating rate borrowings). There is no significant impact on other
components of the Group’s equity.
36.