Haier 2009 Annual Report Download - page 157
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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 155
36. Financial Risk Management Objectives and
Policies (Cont’d)
Credit risk (Cont’d)
Since the Group trades only with recognised and creditworthy
third parties, there is no requirement for collateral. Concentrations
of credit risk are analysed by customer/counterparty and by
geographical region. At the end of the reporting period, the Group
had certain concentrations of credit risk as 90% (2008: 96%) of the
Group’s trade receivables were due from the five largest customers
of the Group.
Further quantitative data in respect of the Group’s exposure to
credit risk arising from trade receivables are disclosed in note 21
to the financial statements.
Liquidity risk
The Group monitors its risk to a shortage of funds using a recurring
liquidity planning tool. This tool considers the maturity of both its
financial instruments and financial assets (e.g., trade receivables)
and projected cash flows from operations.
The Group’s objective is to maintain a balance between continuity
of funding and flexibility through the use of bank loans and other
borrowings. It is the Group’s policy to renew its loan agreements
with Haier Finance or major local banks in Mainland China upon
the maturity of the Group’s short term bank loans and other
borrowings.
36.
90%
96%
21