15. OTHER CURRENT ASSETS
|
|
|
December 31, |
|
December 31, |
|
|
|
2016 |
|
2017 |
|
Financial assets |
|
|
|
|
|
— Deposits paid to suppliers |
|
714,263 |
|
756,748 |
|
— Dividends receivable |
|
148,546 |
|
267,331 |
|
— Receivables from disposal of businesses and assets |
|
5,080,791 |
|
575,650 |
|
— Entrusted loans and loans receivable from third parties |
|
1,631,624 |
|
1,615,429 |
|
— Entrusted loans and loans receivable from related parties |
|
1,859,769 |
|
2,459,883 |
|
— Receivable from disposal of Shanxi Huaxing |
|
1,646,035 |
|
— |
|
— Receivables from disposal of Guizhou Branch's aluminum properties |
|
200,000 |
|
1,320,488 |
|
— Interest receivable |
|
111,625 |
|
144,473 |
|
— Recoverable reimbursement for freight charges |
|
37,069 |
|
13,944 |
|
— Other financial assets |
|
899,946 |
|
1,006,189 |
|
|
|
12,329,668 |
|
8,160,135 |
|
Less: provision for impairment |
|
(1,666,182) |
|
(1,673,046) |
|
|
|
10,663,486 |
|
6,487,089 |
|
Receivable of value-added tax refund |
|
3,492 |
|
1,063 |
|
Advances to employees |
|
31,869 |
|
46,890 |
|
Deductible input value added tax receivables |
|
1,537,245 |
|
2,408,504 |
|
Prepaid income tax |
|
104,213 |
|
64,557 |
|
Prepayments to related parties for purchases |
|
118,777 |
|
61,150 |
|
Prepayments to suppliers for purchases and others |
|
2,626,002 |
|
885,433 |
|
Others |
|
168,714 |
|
113,145 |
|
|
|
4,590,312 |
|
3,580,742 |
|
Less: provision for impairment |
|
(6,053) |
|
(4,155) |
|
|
|
4,584,259 |
|
3,576,587 |
|
Total other current assets |
|
15,247,745 |
|
10,063,676 |
As at December 31, 2017, except for an amount included in other receivables amounting to RMB161 million, which were denominated in USD (December 31, 2016: receivables from disposal of business amounting to RMB2,867 million, other items amounting to RMB161 million, in advances and deposits paid to suppliers amounting to RMB1,686 million), remaining amounts in other current assets were denominated in RMB (December 31, 2016: remaining denominated in RMB).
As at December 31, 2017, except for entrusted loans and loans receivable (December 31, 2016: except for entrusted loans and loans receivable, receivables from disposals of businesses and an amount included in advances and deposits paid to suppliers) which were interest-bearing assets, all amounts in other current assets were non-interest-bearing (December 31, 2016: all non-interest-bearing).
As at December 31, 2016 and 2017, the ageing analysis of financial assets included in other current assets was as follows:
|
|
|
December 31, |
|
December 31, |
|
|
|
2016 |
|
2017 |
|
|
|
|
|
|
|
Within 1 year |
|
1,911,115 |
|
2,581,750 |
|
Between 1 and 2 years |
|
2,496,848 |
|
1,016,284 |
|
Between 2 and 3 years |
|
1,365,830 |
|
1,689,050 |
|
Over 3 years |
|
6,555,875 |
|
2,873,051 |
|
|
|
12,329,668 |
|
8,160,135 |
|
Less: provision for impairment |
|
(1,666,182) |
|
(1,673,046) |
|
|
|
10,663,486 |
|
6,487,089 |
As at December 31, 2016 and 2017, the ageing analysis of past due but not impaired financial assets included in other current assets was as follows:
|
|
|
December 31, |
|
December 31, |
|
|
|
2016 |
|
2017 |
|
|
|
|
|
|
|
Past due for 1 year |
|
613,140 |
|
1,214,509 |
|
Past due for 1 to 2 years |
|
741,276 |
|
364,953 |
|
Past due for over 2 years |
|
442,437 |
|
1,073,231 |
|
|
|
1,796,853 |
|
2,652,693 |
|
Not past due |
|
8,609,164 |
|
3,695,391 |
|
|
|
10,406,017 |
|
6,348,084 |
The credit quality of other current assets that are neither past due nor impaired is assessed by reference to the counterparties' default history. As at December 31, 2016 and 2017, there was no history of default of these customers.
The credit quality of other current assets that were not impaired is assessed by reference to the counterparties’ default history. Based on past experience, the directors of the Company are of the opinion that no provision for impairment is necessary in respect of these balances as there has not been a significant change in credit quality and the balances are still considered recoverable.
Included in the Group’s past due but not impaired financial assets are amounts due from the Group’s related parties of RMB1,545 million (December 31, 2016: RMB1,279 million).
As at December 31, 2017, other current assets of RMB1,817 million (December 31, 2016: RMB1,906 million) of the Group were impaired and provisions of RMB1,677 million (December 31, 2016: RMB1,672 million) were made. The ageing analysis of these current assets is as follows:
|
|
|
December 31, |
|
December 31, |
|
|
|
2016 |
|
2017 |
|
|
|
|
|
|
|
Within 1 year |
|
28,375 |
|
7,305 |
|
Between 1 and 2 years |
|
38,234 |
|
1,775 |
|
Between 2 and 3 years |
|
215,169 |
|
28,313 |
|
Over 3 years |
|
1,624,207 |
|
1,779,306 |
|
|
|
1,905,985 |
|
1,816,699 |
|
Less: provision for impairment |
|
(1,672,235) |
|
(1,677,201) |
|
|
|
233,750 |
|
139,498 |
Movements in the provision for impairment of other current assets are as follows:
|
|
|
2016 |
|
2017 |
|
|
|
|
|
|
|
As at January 1, |
|
1,679,137 |
|
1,672,235 |
|
Provision for impairment |
|
3,864 |
|
29,483 |
|
Write off |
|
(7,807) |
|
(10,921) |
|
Reversal |
|
(2,959) |
|
(9,531) |
|
Others |
|
— |
|
(4,065) |
|
As at December 31, |
|
1,672,235 |
|
1,677,201 |