CHINA YUCHAI INTERNATIONAL LTD | CIK:0000932695 | 3

  • Filed: 4/30/2018
  • Entity registrant name: CHINA YUCHAI INTERNATIONAL LTD (CIK: 0000932695)
  • Generator: Donnelley Financial Solutions
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/932695/000119312518140586/0001193125-18-140586-index.htm
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  • ifrs-full:DisclosureOfReconciliationOfSummarisedFinancialInformationOfJointVentureAccountedForUsingEquityMethodToCarryingAmountOfInterestInJointVentureExplanatory

    The summarized financial information of the joint ventures, based on their IFRS financial statements, and reconciliation with the carrying amount of the investment in consolidated financial statements are set out below:

     

         31.12.2015  
         Y & C    

    Copthorne

    Qingdao

        Total  
         RMB’000     RMB’000     RMB’000  

    Revenue

         356,697       50,971       407,668  

    Depreciation and amortization

         (23,453 )      (12,079 )      (35,532 ) 

    Interest expense

         (19,612 )      (8,599 )      (28,211 ) 

    Loss for the year, representing total comprehensive loss for the year

         (19,952 )      (20,311 )      (40,263 ) 
      

     

     

       

     

     

       

     

     

     

    Proportion of the Group’s ownership

         45 %      60 %   
      

     

     

       

     

     

       

    Group’s share of loss

         (8,978 )      (12,187 )   

    Depreciation arising from fair value adjustment during purchase price allocation

         —         (2,804 )   

    Reversal of cumulative impairment loss

         —         21,932    
      

     

     

       

     

     

       

    Group’s share of (loss)/profit of significant joint ventures

         (8,978 )      6,941       (2,037 ) 
      

     

     

       

     

     

       

    Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures

             (899 ) 
          

     

     

     

    Group’s share of loss for the year, representing the Group’s share of total comprehensive loss for the year

             (2,936 ) 
          

     

     

     
         31.12.2016  
         Y & C     Total  
         RMB’000     RMB’000  

    Non-current assets

         616,397       616,397  

    Current assets

        

    - Cash and bank balances

         99,014       99,014  

    - Others

         215,246       215,246  
      

     

     

       

     

     

     

    Total assets

         930,657       930,657  
      

     

     

       

     

     

     

    Non-current liabilities

         (60,382 )      (60,382 ) 

    Current liabilities

        

    - Interest-bearing loans and borrowings

         (68,800 )      (68,800 ) 

    - Others

         (425,777 )      (425,777 ) 
      

     

     

       

     

     

     

    Total liabilities

         (554,959 )      (554,959 ) 
      

     

     

       

     

     

     

    Equity

         375,698       375,698  
      

     

     

       

     

     

     

    Proportion of the Group’s ownership

         45 %   
      

     

     

       

    Group’s share of net assets

         169,064    
      

     

     

       

    Carrying amount of significant joint ventures

         169,064       169,064  
      

     

     

       

    Carrying amount of other joint ventures

           7,287  
        

     

     

     

    Carrying amount of the investment in joint ventures

           176,351  
        

     

     

     

     

         2016  
         Y & C    

    Copthorne

    Qingdao*

        Total  
         RMB’000     RMB’000     RMB’000  

    Revenue

         553,878       3,674       557,552  

    Depreciation and amortization

         (22,087 )      (2,797 )      (24,884 ) 

    Interest expense

         (14,012 )      (1,337 )      (15,349 ) 

    Profit/(loss) for the year, representing total comprehensive loss for the year

         4,531       (6,664 )      (2,133 ) 
      

     

     

       

     

     

       

     

     

     

    Proportion of the Group’s ownership

         45 %      60 %   
      

     

     

       

     

     

       

    Group’s share of profit/(loss)

         2,039       (3,998 )   

    Depreciation arising from fair value adjustment during purchase price allocation

         —         (467 )   
      

     

     

       

     

     

       

    Group’s share of profit/(loss) of significant joint
    ventures

         2,039       (4,465 )      (2,426 ) 
      

     

     

       

     

     

       

    Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures

             (1,642 ) 
          

     

     

     

    Group’s share of loss for the year, representing the Group’s share of total comprehensive loss for the year

             (4,068 ) 
          

     

     

     

     

      *

    On February 23, 2016, the investment in Copthorne Qingdao was classified as asset held for sale. Accordingly, the information presented includes the results of Copthorne Qingdao only for the period from January 1, 2016 to February 23, 2016.

         31.12.2017  
         Y & C     MTU     Total      Total  
         RMB’000     RMB’000     RMB’000      US$’000  

    Non-current assets

         734,270       32,015       766,285        121,068  

    Current assets

             

    - Cash and bank balances

         199,925       113,055       312,980        49,449  

    - Others

         367,293       22,775       390,068        61,628  
      

     

     

       

     

     

       

     

     

        

     

     

     

    Total assets

         1,301,488       167,845       1,469,333        232,144  
      

     

     

       

     

     

       

     

     

        

     

     

     

    Non-current liabilities

         (13,543 )      —         (13,543 )       (2,140 ) 

    Current liabilities

             

    - Interest-bearing loans and borrowings

         (13,500 )      —         (13,500 )       (2,133 ) 

    - Others

         (842,765 )      (34,820 )      (877,585 )       (138,652 ) 
      

     

     

       

     

     

       

     

     

        

     

     

     

    Total liabilities

         (869,808 )      (34,820 )      (904,628 )       (142,925 ) 
      

     

     

       

     

     

       

     

     

        

     

     

     

    Equity

         431,680       133,025       564,705        89,219  
      

     

     

       

     

     

       

     

     

        

     

     

     

    Proportion of the Group’s ownership

         45 %      50 %      
      

     

     

       

     

     

          

    Group’s share of net assets

         194,256       66,513       

    Unrealized profit on transactions with joint venture

         (72,021 )      —         
      

     

     

       

     

     

          

    Carrying amount of significant joint ventures

         122,235       66,513       188,748        29,821  
      

     

     

       

     

     

          

    Carrying amount of other joint ventures

             7,354        1,162  
          

     

     

        

     

     

     

    Carrying amount of the investment in joint ventures

             196,102        30,983  
          

     

     

        

     

     

     

     

         31.12.2017  
         Y & C     MTU     Total      Total  
         RMB’000     RMB’000     RMB’000      US$’000  

    Revenue

         1,331,823       —         1,331,823        210,419  

    Depreciation and amortization

         (20,831 )      (227 )      (21,058 )       (3,327 ) 

    Interest expense

         (28,663 )      (343 )      (29,006 )       (4,583 ) 

    Profit/(loss) for the year, representing total comprehensive income for the year

         55,982       (16,973 )      39,009        6,163  
      

     

     

       

     

     

       

     

     

        

     

     

     

    Proportion of the Group’s ownership

         45 %      50 %      
      

     

     

       

     

     

          

    Group’s share of profit

         25,192       (8,487 )      

    Unrealized profit on transactions with joint venture

         (7,437 )      —         
      

     

     

       

     

     

          

    Group’s share of profit of significant joint ventures

         17,755       (8,487 )      9,268        1,464  
      

     

     

       

     

     

          

    Group’s share of loss of other joint ventures, representing the Group’s share of total comprehensive loss of other joint ventures

             814        129  
          

     

     

        

     

     

     

    Group’s share of profit for the year, representing the Group’s share of total comprehensive income for the year

             10,082        1,593