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64 VTech Holdings Ltd Annual Report 2010
Notes to the Financial Statements
24 Principal Subsidiaries (Continued)
Percentage of
Fully paid issued interest held by
Name of subsidiary share capital the Group Principal activity
Incorporated/established and operating in France:
VTech Electronics Europe S.A.S. EUR 450,000 *100 Sale of electronic products
Incorporated/established and operating in Germany:
VTech Electronics Europe GmbH EUR 500,000 *100 Sale of electronic products
VTech Funkwerk IAD GmbH EUR 25,000 *51 Development of broadband
connectivity software
Incorporated/established and operating in the Netherlands:
VTech Electronics Europe B.V. EUR 18,100 *100 Sale of electronic products
Incorporated/established and operating in
the People’s Republic of China:
Dongguan VTech Satellite Equipment Co. Limited** HK$28,500,000 *100 Manufacturing of
telecommunication products
Dongguan Video Technology Electronics Limited** HK$29,197,729 *100 Manufacturing of
electronic products
Dongguan VTech Computers Limited** HK$25,580,358 *100 Manufacturing of
electronic equipment
VTech (Dongguan) Plastic Products Company Limited** HK$3,000,000 *100 Manufacturing of plastics
products
VTech (Qingyuan) Plastics & Electronics Limited** HK$293,000,000 *100 Manufacturing of plastics
products
Incorporated/established and operating in Spain:
VTech Electronics Europe, S.L. EUR 500,000 *100 Sale of electronic products
Incorporated/established and operating in
the United Kingdom:
VTech Electronics Europe Plc GBP 500,000 *100 Sale of electronic products
Incorporated/established and operating in the United States:
VTech Electronics North America, L.L.C. US$22,212,997 *100 Sale of electronic products
VTech Communications, Inc. US$300,000 *100 Sale of telecommunication
products
* Indirectly held by subsidiary companies
** Foreign-owned enterprise
25 Material Related Party Transactions
Remuneration for key management personnel of the Group,
including amounts paid to the directors of the Company and the
five highest paid individuals is disclosed in note 3 to the financial
statements.
In the normal course of business and on normal commercial
terms, the Group undertakes certain transactions with its
associates. None of these transactions were material to the
Group’s results.
26 Comparative figures
As a result of the application of IAS 1 (Revised), Presentation of
financial statements and IFRS 8 Operating segments, certain
comparative figures have been reclassified to conform to current
year’s presentation. Further details of these developments are
disclosed in note (D).