20. Investments in joint ventures
Details of the Group’s joint ventures, which are all unlisted companies invested indirectly through China IC Capital Co., Ltd, at the end of the reporting period are as follows:
|
|
|
|
|
Class |
|
Proportion of ownership interest |
|||||
|
|
|
Place of establishment |
|
of share |
|
and voting power held |
|||||
|
Name of company |
|
and operation |
|
held |
|
by the Group |
|||||
|
|
|
|
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
|
Shanghai Xinxin Investment Centre (Limited Partnership) (“Shanghai Xinxin”) |
|
Shanghai, PRC |
|
Ordinary |
|
49.0 |
% |
49.0 |
% |
49.0 |
% |
|
Shanghai Chengxin Investment Center (Limited Partnership) (“Shanghai Chengxin”) |
|
Shanghai, PRC |
|
Ordinary |
|
31.5 |
% |
42.0 |
% |
42.0 |
% |
Summarized financial information in respect of the Group’s material joint venture is set out below.
Shanghai Xinxin
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
|
|
USD’000 |
|
USD’000 |
|
USD’000 |
|
Current assets |
|
1,453 |
|
10,679 |
|
4,917 |
|
Non-current assets |
|
53,782 |
|
13,283 |
|
28,631 |
|
Current liabilities |
|
(6) |
|
(7) |
|
(3,287) |
|
Non-current liabilities |
|
— |
|
— |
|
— |
|
Net assets |
|
55,229 |
|
23,955 |
|
30,261 |
|
|
|
Year ended |
|
Year ended |
|
Year ended |
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
|
|
USD’000 |
|
USD’000 |
|
USD’000 |
|
Total revenue |
|
|
|
— |
|
— |
|
(Loss) profit for the year |
|
(390) |
|
4,540 |
|
(609) |
|
Other comprehensive income for the year |
|
30,441 |
|
— |
|
— |
|
Total comprehensive income (loss) for the year |
|
30,051 |
|
4,540 |
|
(609) |
|
Dividends received from the joint venture during the year |
|
— |
|
2,027 |
|
— |
Reconciliation of the above summarized financial information to the carrying amount of the interest in the joint venture recognized in the consolidated financial statements:
|
|
|
12/31/17 |
|
12/31/16 |
|
12/31/15 |
|
|
|
|
USD’000 |
|
USD’000 |
|
USD’000 |
|
|
Net assets of the joint venture |
|
55,229 |
|
23,955 |
|
30,261 |
|
|
Proportion of the Group’s ownership interest in Shanghai Xinxin |
|
49.0 |
% |
49.0 |
% |
49.0 |
% |
|
Carrying amount of the Group’s interest in Shanghai Xinxin |
|
27,062 |
|
11,740 |
|
14,829 |
|