Haier 2009 Annual Report Download - page 156
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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
154
36. Financial Risk Management Objectives and
Policies (Cont’d)
Foreign currency risk (Cont’d)
Increase/(decrease) Increase/(decrease)
in exchange rates in profit before tax
% RMB’000
2008
If RMB strengthens
against Euro 5 (5,670 )
If RMB strengthens against
United States Dollar 5 (5,215 )
If RMB strengthens against
Japanese Yen 5 (511 )
If RMB strengthens against
Great Britain Pound 5 (1,326 )
If RMB weakens against Euro (5 ) 5,670
If RMB weakens against United
States Dollar (5 ) 5,215
If RMB weakens against
Japanese Yen (5 ) 511
If RMB weakens against
Great Britain Pound (5 ) 1,326
Credit risk
The Group trades only with recognised and creditworthy third
parties. It is the Group’s policy that all customers who wish to
trade on credit terms are subject to credit verification procedures.
In addition, receivable balances are monitored on an ongoing basis
and the Group’s exposure to bad debts is not significant.
The credit risk of the Group’s other financial assets, which comprise
cash and cash equivalents and other receivables, arises from default
of the counterparty, with a maximum exposure equal to the carrying
amounts of these instruments.
36.