China Zenix Auto International Ltd | CIK:0001506756 | 3

  • Filed: 4/27/2018
  • Entity registrant name: China Zenix Auto International Ltd (CIK: 0001506756)
  • Generator: Donnelley Financial Solutions
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1506756/000119312518136578/0001193125-18-136578-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1506756/000119312518136578/zx-20171231.xml
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  • ifrs-full:DisclosureOfLeasePrepaymentsExplanatory

    14. PREPAID LEASE PAYMENTS

     

         As of December 31  
         2016      2017      2017  
         RMB’000      RMB’000      US$’000  
    The Group’s prepaid lease payments comprise were analyzed for reporting purposes as:         

    Non-current assets

         376,449        367,024        56,411  

    Current assets

         9,425        9,425        1,449  
      

     

     

        

     

     

        

     

     

     
         385,874        376,449        57,860  
      

     

     

        

     

     

        

     

     

     
         As of December 31  
         2016      2017      2017  
         RMB’000      RMB’000      US$’000  

    Beginning of the year

         395,299        385,874        59,309  

    Amortization charge for the year

         (9,425      (9,425      (1,449
      

     

     

        

     

     

        

     

     

     

    End of the year

         385,874        376,449        57,860  
      

     

     

        

     

     

        

     

     

     

    Prepaid lease payments represent the rights to use the land (the “Land Use Rights”) in the PRC acquired by the Group. The Group is granted land use rights for a period from 25 to 70 years. They are amortized over the term of the Land Use Rights on a straight line basis. No impairment loss was made to the carrying amounts of the prepaid lease payments for the years ended December 31, 2015, 2016 and 2017.