| 2016 | Shanghai Secco RMB’000 |
Chemical Industry RMB’000 |
Jinsen RMB’000 |
Azbil RMB’000 |
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| Opening net assets 1 January |
8,893,798 | 3,795,350 | 206,986 | 112,315 | ||||||||||||
| Profit/(loss) for the year |
3,753,476 | 513,804 | (16,394 | ) | 16,278 | |||||||||||
| Other comprehensive income |
— | 47,603 | — | — | ||||||||||||
| Declared dividends |
(2,451,000 | ) | (45,000 | ) | (7,340 | ) | (18,000 | ) | ||||||||
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| Closing net assets |
10,196,274 | 4,311,757 | 183,252 | 110,593 | ||||||||||||
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| % of ownership interest |
20.00 | % | 38.26 | % | 40.00 | % | 40.00 | % | ||||||||
| Interest in associates |
2,039,256 | 1,649,677 | 73,301 | 44,237 | ||||||||||||
| Unrealized upstream and downstream transaction |
(7,979 | ) | — | — | — | |||||||||||
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| Unentitled portion (Note a) |
— | (348,600 | ) | — | — | |||||||||||
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| Carrying value |
2,031,277 | 1,301,077 | 73,301 | 44,237 | ||||||||||||
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| 2017 | Shanghai Secco RMB’000 |
Chemical Industry RMB’000 |
Jinsen RMB’000 |
Azbil RMB’000 |
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| Opening net assets 1 January |
10,196,274 | 4,311,757 | 183,252 | 110,593 | ||||||||||||
| Profit/(loss) for the year |
5,179,254 | 407,709 | (17,069 | ) | 26,182 | |||||||||||
| Other comprehensive income |
— | (2,116 | ) | — | — | |||||||||||
| Declared dividends |
(2,105,600 | ) | (53,001 | ) | — | (17,000 | ) | |||||||||
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| Closing net assets |
13,269,928 | 4,664,349 | 166,183 | 119,775 | ||||||||||||
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| % of ownership interest |
20 | % | 38.26 | % | 40.00 | % | 40.00 | % | ||||||||
| Interest in associates |
2,653,987 | 1,784,580 | 66,473 | 47,910 | ||||||||||||
| Unrealized upstream and downstream transaction |
(9,512 | ) | — | — | — | |||||||||||
| Unentitled portion (Note a) |
— | (348,346 | ) | — | — | |||||||||||
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| Carrying value |
2,644,475 | 1,436,234 | 66,473 | 47,910 | ||||||||||||
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Note a: Unentitled portion represented the earnings from sales of the lands injected by Government in Chemical Industry cannot be shared by other shareholders.