Huawei 2012 Annual Report Download - page 67

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Consolidated Financial Statements Summary and Notes 64
Details of the Group’s interests in significant jointly controlled entities are as follows:
Name of
jointly controlled entity
Form of
business structure Country/region
Ownership
percentage Principal activity
2012 2011
Huawei Marine Systems Co.,
Ltd. (“Huawei Marine”)
Incorporated Hong Kong, PRC 51% 51% Construction and operation of
submarine fibres
Chengdu Huawei
Investment Co., Ltd.
(“CD Investment”)
Incorporated Chengdu, PRC 49% 49% Investment, lease of property
and machinery, developments of
high technology products and
provision of related services,
sales of telecommunication and
electronic products
In March 2012, the Group acquired additional
49% and 48% equity interests in Huawei Digital
Technologies (Hong Kong) Co., Limited (“Huawei
Digital HK”) (formerly “Huawei Symantec
Technologies Co., Ltd.”) and Beijing Huawei
Longshine respectively. Subsequent to the acquisition,
Huawei Digital HK and Beijing Huawei Longshine
became wholly-owned subsidiaries of the Group
(see Note 25 (c)).
Summary financial information on jointly controlled entities – Group’s effective interest:
2012 2011
CNY’million CNY’million
Non-current assets 804 532
Current assets 294 1,419
Non-current liabilities (525) (241)
Current liabilities (323) (1,196)
Net assets 250 514
Income 321 2,429
Expenses (358) (2,406)
(Loss)/Profit for the year (37) 23