| 22 | INVESTMENTS IN ASSOCIATES |
| 2017 | 2016 | |||||||
| RMB million | RMB million | |||||||
|
Unlisted investments, cost |
1,116 | 1,069 | ||||||
|
Share of net assets |
538 | 467 | ||||||
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|
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| 1,654 | 1,536 | |||||||
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The movements in investments in associates were as follows:
| 2017 | 2016 | |||||||
| RMB million | RMB million | |||||||
|
At 1 January |
1,536 | 1,543 | ||||||
|
Additions |
47 | — | ||||||
|
Share of results of associates |
202 | 148 | ||||||
|
Share of revaluation on available-for-sale investments held by an associate |
10 | (1 | ) | |||||
|
Dividend received during the year |
(141 | ) | (154 | ) | ||||
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|
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At 31 December |
1,654 | 1,536 | ||||||
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Particulars of the principal associates, which are limited liability companies, are as follows:
|
Company name |
Place of establishment and |
Registered capital | Attributable equity interest |
Principal activities |
||||||||||||||||
| 2017 | 2016 | 2017 | 2016 | |||||||||||||||||
| Million | Million | |||||||||||||||||||
|
Eastern Air Group Finance Co., Ltd. (“Eastern Air Finance Company”) |
PRC/Mainland China 6 December 1995 |
RMB | 2,000 | RMB | 2,000 | 25 | % | 25 | % | Provision of financial services to group companies of CEA Holding | ||||||||||
|
China Eastern Air Catering Investment Co., Ltd. |
PRC/Mainland China 17 November 2003 |
RMB | 350 | RMB | 350 | 45 | % | 45 | % | Provision of air catering services | ||||||||||
|
Shanghai Pratt & Whitney Aircraft Engine Maintenance Co., Ltd. (“Shanghai P&W”) (note) |
PRC/Mainland China 28 March 2008 |
USD | 40 | USD | 40 | 51 | % | 51 | % | Provision of aircraft, engine and other related components maintenance services | ||||||||||
|
New Shanghai International Tower Co., Ltd. |
PRC/Mainland China 17 November 1992 |
RMB | 167 | RMB | 167 | 20 | % | 20 | % | Property development provision and management services | ||||||||||
|
Eastern Aviation Import & Export Co., Ltd. (“Eastern Import & Export”) |
PRC/Mainland China 9 June 1993 |
RMB | 80 | RMB | 80 | 45 | % | 45 | % | Provision of aviation equipment and spare parts purchase | ||||||||||
|
Eastern Aviation Advertising Service Co., Ltd. (“Eastern Advertising”) |
PRC/Mainland China 4 March 1986 |
RMB | 200 | RMB | 200 | 45 | % | 45 | % | Provision of aviation advertising agency services | ||||||||||
|
Shanghai Collins Aviation Maintenance Service Co., Ltd. (“Collins Aviation”) |
PRC/Mainland China 27 September 2002 |
USD | 7 | USD | 7 | 35 | % | 35 | % | Provision of airline electronic product maintenance services | ||||||||||
Note:
In 2008, the Company entered into an agreement with United Technologies International Corporation (“Technologies International”) to establish Shanghai P&W, in which the Company holds a 51% interest. According to the shareholder’s agreement, Technologies International has the power to govern the financial and operating policies and in this respect the Company accounts for Shanghai P&W as an associate.
The following table illustrates the aggregate financial information of the Group’s associates that were not individually material:
| 2017 | 2016 | |||||||
| RMB million | RMB million | |||||||
|
Share of the associates’ profit for the year |
202 | 148 | ||||||
|
Share of the associates’ other comprehensive income |
10 | (1 | ) | |||||
|
Share of the associates’ total comprehensive income |
212 | 147 | ||||||
|
Aggregate carrying amount of the Group’s interests in the associates |
1,654 | 1,536 | ||||||