16. INVESTMENT IN A JOINT VENTURE
Particulars of the joint venture at the end of the reporting period are as follows:
|
Name of entity |
Place of establishment |
Nominal value of ordinary shares issued and paid- up/registered capital |
Percentage of equity attributable to the Group |
Principal activities |
|
Bridas Corporation |
British Virgin Islands |
US$ 102,325,582 |
50% |
Investment holding |
16. INVESTMENT IN A JOINT VENTURE (continued)
Summarized financial information of the joint venture is disclosed below:
|
|
2016 |
2017 |
| ||
|
|
|
|
| ||
|
Current assets |
|
9,201 |
11,614 |
| |
|
|
|
|
| ||
|
Non-current assets |
|
66,992 |
63,660 |
| |
|
|
|
|
| ||
|
Current liabilities |
|
(6,866) |
(6,630) |
| |
|
|
|
|
| ||
|
Non-current liabilities |
|
(16,727) |
(18,486) |
| |
|
|
|
|
| ||
|
|
|
|
| ||
|
|
2015 |
2016 |
2017 |
| |
|
Revenue |
31,231 |
28,371 |
29,879 |
| |
|
Depreciation, depletion and amortization |
(3,535) |
(3,988) |
(3,742) |
| |
|
Interest income |
288 |
388 |
313 |
| |
|
Finance costs |
(799) |
(704) |
(550) |
| |
|
|
|
|
| ||
|
Profit before tax |
4,194 |
1,226 |
2,215 |
| |
|
Income tax expense |
(900) |
(160) |
(1,109) |
| |
|
Profit after tax |
3,294 |
1,066 |
1,106 |
| |
|
Total comprehensive income |
3,294 |
1,066 |
1,106 |
| |
Dividend of US$36 million (equivalent to RMB243 million) was received from the joint venture in 2017, no dividend was received from the joint venture in 2016and dividend of US$5 million (equivalent to RMB32 million) was received from the joint venture in 2015.