ChatDOC/OCRFlux-bench-single huggingface dataset:
# 33. OTHER NON-CURRENT LIABILITIES

2020	2019
RMB’000	RMB’000
Consideration payable for acquisition of a portfolio of assets
and liabilities (note (a))	32,881	42,351
Payable for mining rights (note (c))	566,896	433,677
Provision for legal claims (note (b))	8,506	8,777
Others	3,565	5,601
611,848	490,406
Less: current portion	(72,383)	(65,911)
539,465	424,495

(a) On 26 September 2017, SDG Xinhui, Qingdao Pingdu Jinxing Gold Mining Co. Ltd. (“Jinxing”), an independent third party of the Group, and Dazhuangzi Villagers’ Committee of Pingdu Xinhe Town (平度市新河鎮大莊子村民委員會), the former shareholder of Jinxing, entered into an asset reorganisation agreement (the “Agreement”). Pursuant to the Agreement, SDG Xinhui acquired a portfolio of assets and liabilities of Jinxing, including part of the receivables and payables, property, plant and equipment and exploration rights at a total consideration of approximately RMB174,180,000.

During the year ended 31 December 2018, the Group has settled part of consideration of approximately RMB114,180,000 and the remaining non-interest bearing consideration of approximately RMB60,000,000 (the “Remaining Consideration”) will be paid by 8 instalments until 31 January 2026.

As at 31 December 2020, the carrying amount of the Remaining Consideration included as “other non-current liabilities” amounted to approximately RMB32,881,000 (2019: RMB42,351,000) and the current portion of which to be settled within the next twelve months amounted to approximately RMB7,500,000 (2019: RMB7,792,000).

(b) As at 31 December 2020, the provision for legal claim of approximately US\$1,304,000, equivalent to approximately RMB8,506,000 (2019: US\$1,258,000, equivalent to approximately RMB8,777,000) is recognised in connection with certain outstanding labour claims of MAS.

(c) During the year ended 31 December 2020, the Group acquired of a mining right from Shandong Gold Group at a cash consideration of approximately RMB232,863,000 (note 43(a)). Approximately RMB160,656,000 (note 43(a)) has been paid during the year ended 31 December 2020.

During the year ended 31 December 2020, the Group acquired of certain mining rights from independent third parties at a total cash consideration of approximately RMB162,650,000 (2019: RMB533,677,000).
# 34. DEFERRED TAXATION

The analysis of deferred income tax assets and deferred income tax liabilities is as follows:

2020	2019
RMB’000	RMB’000
Deferred income tax assets	170,877	130,000
Deferred income tax liabilities	(3,928,100)	(4,262,779)
Deferred income tax liabilities, net	(3,757,223)	(4,132,779)

The gross movement on the deferred income tax is as follows:

2020	2019
RMB’000	RMB’000
At the beginning of the year	(4,132,779)	(4,141,760)
Credited to profit or loss (note 10)	226,273	46,406
Currency translation differences	149,283	(37,425)
At the end of the year	(3,757,223)	(4,132,779)

The following are the major deferred tax assets (liabilities) and movements thereon during the current and prior years:

Property,
plant and
equipment	Mining and
exploration
rights	Financial
assets/
liabilities
at fair value
through profit
or loss	Others	Total
RMB’000	RMB’000	RMB’000	RMB’000	RMB’000
At 1 January 2019	(2,124,740)	(1,934,735)	(129,951)	47,666	(4,141,760)
Credited (charged) to profit or loss	116,072	121,065	(47,099)	(143,632)	46,406
Currency translation differences	(36,942)	–	–	(483)	(37,425)
At 31 December 2019 and at 1 January 2020	(2,045,610)	(1,813,670)	(177,050)	(96,449)	(4,132,779)
Credited (charged) to profit or loss	145,478	231,768	(45,540)	(105,433)	226,273
Currency translation differences	142,910	–	–	6,373	149,283
At 31 December 2020	(1,757,222)	(1,581,902)	(222,590)	(195,509)	(3,757,223)
# Business Segment Disclosure

See Note 21 to the consolidated financial statements for additional information regarding our business segments.

# Americas

The Americas segment serves customers in the U.S., Canada, the Caribbean Islands and Latin America with a portfolio of integrated architecture, furniture and technology products marketed to corporate, government, healthcare, education and retail customers through the Steelcase, Coalesse, Turnstone, Smith System, AMQ and Orangebox brands.

Statement of Operations Data—
Americas	Year Ended
February 22,
2019	February 23,
2018	February 24,
2017
Revenue	$ 2,470.2	100.0%	$ 2,193.8	100.0%	$ 2,231.9	100.0%
Cost of sales	1,673.5	67.7	1,450.8	66.1	1,456.2	65.3
Restructuring costs	—	—	—	—	2.6	0.1
Gross profit	796.7	32.3	743.0	33.9	773.1	34.6
Operating expenses	586.8	23.8	561.6	25.6	534.2	23.9
Operating income	$ 209.9	8.5%	$ 181.4	8.3%	$ 238.9	10.7%

Organic Revenue Growth (Decline)—Americas	Year Ended
February 22,
2019	February 23,
2018
Prior year revenue	$ 2,193.8	$ 2,231.9
Acquisitions	84.4	4.5
Divestiture	(13.6)	(8.3)
Currency translati*on effects	(2.3)	2.0
Prior year revenue, adjusted	2,262.3	2,230.1
Current year revenue	2,470.2	2,193.8
Organic growth (decline) $	$ 207.9	$ (36.3)
Organic growth (decline) %	9%	(2)%

\* Currency translation effects represent the net effect of translating prior year foreign currency revenues using the average exchange rate on a monthly basis during the current year.

# 2019 compared to 2018

Operating income in the Americas increased by \$28.5 in 2019 compared to the prior year. The comparison was negatively impacted by \$8.4 related to the pension charge and favorably impacted by a \$5.0 gain on the sale of property, net of the related variable compensation effects. The increase in 2019 operating income was driven by higher revenue and lower operating expenses as a percentage of revenue, partially offset by higher cost of sales as a percentage of revenue.

The Americas revenue represented 71.7% of consolidated revenue in 2019. Revenue for 2019 of \$2,470.2 represented an increase of \$276.4 or 13% compared to 2018. The growth in 2019 was driven primarily by overall industry growth and increased project opportunities, improvements in our competitive win rates, recent acquisitions and benefits from recent list price adjustments. After adjusting for an \$84.4 year-over-year impact of acquisitions, a\$13.6 unfavorable impact of a divestiture and \$2.3 of unfavorable currency translation effects, the organic revenue growth in 2019 was \$207.9 or 9% compared to the prior year.
Cost of sales in 2019 was 67.7% of revenue which compared to 66.1% of revenue in 2018. Cost of sales as a percentage of revenue increased by 160 basis compared to the prior year, with 40 basis points attributable to the pension charge. The year-over-year comparison reflected the following:

• unfavorable shifts in business mix,

• approximately \$43 of higher commodity, freight and labor (other than annual merit increases) costs, partially offset by approximately \$32 of benefits from pricing actions,

• approximately \$9 of benefits associated with cost reduction efforts, net of additional overhead investments and annual merit labor cost increases, and

• higher absorption of fixed costs.

Operating expenses in 2019 increased by \$25.2, but decreased 180 basis points as a percentage of revenue, compared to the prior year. The increase was due to \$27.2 from acquisitions (including \$9.4 of amortization expense), net of a divestiture and \$8.9 of higher variable compensation expense, partially offset by a \$7.5 gain on the sale of property, \$3.7 of lower severance costs and \$2.6 of lower product development expenses.

# 2018 compared to 2017

Operating income in the Americas decreased by \$57.5 in 2018 compared to the prior year. The decline was driven by lower sales volume, higher cost of sales as a percentage of revenue and higher operating expenses.

The Americas revenue represented 71.8% of consolidated revenue in 2018. Revenue for 2018 of \$2,193.8 represented a decrease of \$38.1 or 2% compared to 2017, reflecting ongoing shifts in demand patterns. The decrease in revenue was driven by subdued demand from large customers. Growth from our new products and solutions was partially offset by a decline in demand for legacy furniture applications. After adjusting for an \$8.3 unfavorable impact of a divestiture, a \$4.5 impact of an acquisition and \$2.0 of favorable currency translation effects, the organic revenue decline in 2018 was \$36.3 or 2% compared to the prior year.

Cost of sales in 2018 was 66.1% of revenue which compared to 65.3% of revenue in 2017. The year-over-year comparison reflected the following:

• approximately \$10 of higher commodity costs,

• higher investments in support of product development and manufacturing agility,

• unfavorable shifts in business mix,

• approximately \$17 of benefits associated with ongoing cost reduction efforts,

• favorability related to improvements in negotiated customer pricing, and

• approximately \$5 of lower warranty costs compared to the prior year.

Operating expenses in 2018 increased by \$27.4, or 170 basis points as a percentage of revenue, compared to the prior year. The increase was driven by approximately \$34 of higher investments in product development, sales, marketing and information technology that support our growth strategies, \$3.8 of severance costs in 2018 and a \$1.5 impairment related to an asset held for sale, partially offset by approximately \$9 of lower variable compensation expense.
# 44. PARTLY-OWNED SUBSIDIARY WITH MATERIAL NON-CONTROLLING INTERESTS (CONTINUED)

Details of the Group’s subsidiaries that have material non-controlling interests are set out below: (Continued)

# (ii) Parkway

2021	2020
Percentage of equity interest held by non-controlling
interest of Parkway:	30%	30%

The following table illustrates the summarised financial information of Parkway. The amounts disclosed are before any inter-company eliminations:

2021	2020
HK$’000	HK$’000
Total expenses for the year	(301)	(5,059)
Loss for the year	(301)	(3,732)
Total comprehensive loss for the year	(301)	(3,732)
Loss for the year allocated to non-controlling
interest of Parkway	(90)	(1,120)
Current assets	287	391
Non-current assets	–	171
Current liabilities	(2,266)	(2,356)
Non-current liabilities	(2,231)	(2,115)
Net liabilities	(4,210)	(3,909)
Accumulated loss of non-controlling interest of
Parkway at the reporting date	(1,920)	(1,830)
Net cash flows generated from operating activities	83	41
Net increase in cash and cash equivalents	83	41
# 45. INTERESTS IN SUBSIDIARIES

Particulars of the subsidiaries as at 30 June 2021 and 2020 are as follows:

Name of subsidiary	Place of
incorporation/
registration/
operations	Issued and
fully paid
share capital	Percentage of
ownership interest	Principal activities
2021	2020
New Smart International Creation
Limited	Hong Kong	HK$1	100%	100%	Production and
distribution of film
Champion Peak Corporation Limited	Hong Kong	HK$1	100%	100%	Production of film
China 3D Digital Products Limited	Hong Kong	HK$1	100%	100%	Production of film
Eastern Master Corporation Limited	Hong Kong	HK$1	100%	100%	Production of film
Fantastic Union Limited	Hong Kong	HK$1	100%	100%	Production of film
Good Lead Corporation Limited	Hong Kong	HK$1	100%	100%	Production of film
Good Time Investment Limited	Hong Kong	HK$1	100%	100%	Production of film
Joyful Excellence Limited	Hong Kong	HK$1	100%	100%	Production of film
Go Up Zone Limited	Hong Kong	HK$1	100%	100%	Production of film
New Modern Corporation Limited	Hong Kong	HK$1	100%	100%	Production of film
New Noble Corporation Limited	Hong Kong	HK$1	100%	100%	Production of film
New Pioneer Corporation Limited	Hong Kong	HK$1	100%	100%	Production of film
Cream Digital Limited	Hong Kong	HK$1	100%	100%	Production of film
Source Hunter Corporation Limited	Hong Kong	HK$1	100%	100%	Production of film
China 3D Digital Distribution Limited	Hong Kong	HK$1	100%	100%	Distribution of films
Red Rich Investment Limited	Hong Kong	HK$1	100%	100%	Distribution of films
Smooth Success Development
Limited	Hong Kong	HK$1	100%	100%	Distribution of films
# 11. TOTAL DISTRIBUTABLE INCOME

Total distributable income is the (loss) profit for the period, before distribution to unitholders as adjusted to eliminate the effects of Adjustments (as defined and set out in the Trust Deed) which have been recorded in the condensed consolidated income statement for the relevant period. The Adjustments to arrive at total distributable income for the period are set out below:

2020	2019
HK$'000
(unaudited)	HK$'000
(unaudited)
(Loss) profit for the period, before distribution to unitholders	(8,491,803)	3,186,527
Adjustments:
M'anagers fees payable in units	71,660	75,757
Decrease (increase) in fair value of investment properties	9,172,565	(2,455,700)
Fair value changes on financial assets at fair value
through profit or loss	1,939	-
Non-cash finance costs	12,434	20,955
Deferred tax	37,277	41,384
Total distributable income	804,072	868,923

# 12. DISTRIBUTION STATEMENT

2020	2019
HK$'000
(unaudited)	HK$'000
(unaudited)
Total distributable income (note 11)	804,072	868,923
Percentage of distributable income for distribution (note (i))	90%	90%
Total distribution amount to be paid	723,665	782,031
Distribution per unit to unitholders (note (ii))	HK$0.1229	HK$0.1332

Notes:

(i) It is the policy of the Manager to distribute 90% (six months ended 30 June 2019: 90%) of available distributable income as the distributions for the six months ended 30 June 2020 (the "Interim Distribution Period").

(ii) The interim distribution per unit of HK\$0.1229 for the six months ended 30 June 2020 is calculated based on the interim distribution to be paid of HK\$723,665,000 for the period and 5,888,833,523 units in issue as at 30 June 2020. Such interim distribution will be subject to further adjustments upon the issuance of units on or before 25 September 2020, which is the record date set for such period. The interim distribution will be paid to unitholders on 9 October 2020.

The interim distribution per unit of HK\$0.1332 for the six months ended 30 June 2019 was calculated based on the interim distribution paid of HK\$782,031,000 for the period and 5,872,789,311 units as of 20 September 2019, which was the record date for the period. The interim distribution was paid to unitholders on 4 October 2019.
# 13. BASIC (LOSS) EARNINGS PER UNIT

The basic (loss) earnings per unit during the six months ended 30 June 2020 is calculated by dividing the loss for the period before distribution to unitholders of HK\$8,491,803,000 (2019: profit for the period before distribution to unitholders of HK\$3,186,527,000) by the weighted average number of units of 5,892,170,575 (2019: 5,860,193,423) in issue during the period, taking into account the units issuable as manager's fee for its service for each of the six months ended 30 June 2020 and 2019.

There were no diluted potential units in issue during the six months ended 30 June 2020 and 2019, therefore the diluted earnings per unit has not been presented.

# 14. TRADE AND OTHER RECEIVABLES

At
30 June
2020	At
31 December
2019
HK$'000
(unaudited)	HK$'000
(audited)
Trade receivables	37,322	10,467
Deferred lease receivables	183,545	166,052
Deposits, prepayments and other receivables	81,466	82,845
302,333	259,364

Aging analysis of the Group's trade receivables presented based on the invoice date at the end of the reporting period is as follows:

At
30 June
2020	At
31 December
2019
HK$'000
(unaudited)	HK$'000
(audited)
0 - 3 months	30,838	10,467
3 - 6 months	4,179	-
Over 6 months	2,305	-
37,322	10,467
Cost of sales increased by 83.6% from RMB 843.7 million for the six months ended 30 June 2009 to RMB 1,549.0 million for the six months ended 30 June 2010 for premium branded automobiles and increased by 19.8% from RMB 824.1 million to RMB 987.6 million for middle market branded automobiles in the same period. The increase in cost of sales of new automobiles was generally in line with the increased turnover from sales of new automobiles. The increase in our cost of sales was also due in part to an increase in cost of sales of after-sales services, which increased by 37.7% from RMB 102.9 million to RMB 141.7 million during the same period, and was generally in line with the increased turnover from after-sales services. In addition, our cost of sales of our logistics services and lubricant oil trading business increased by 31.8% from RMB 121.7 million to RMB 160.4 million during the same period, which was generally in line with the increased turnover from our logistics services and lubricant oil trading business.

Gross profit. Our gross profit increased by 89.4% from RMB 152.7 million for the six months ended 30 June 2009 to RMB 289.2 million for the six months ended 30 June 2010.

Gross profit from our dealership business increased from RMB 119.2 million for the six months ended 30 June 2009 to RMB 249.2 million for the six months ended 30 June 2010, primarily due to an increase in gross profit from sales of new automobiles. Gross profit from sales of premium and ultra premium branded automobiles increased from RMB 27.4 million to RMB 107.2 million for the same period and gross profit from sales of middle market branded automobiles increased from RMB 28.0 million to RMB 40.8 million for the same period. In addition, gross profit from after-sales services increased from RMB 63.8 million to RMB 101.2 million in the same period.

Gross profit from our logistics services and lubricant oil trading business increased from RMB 33.5 million to RMB 40.0 million in the same period.

Our gross margin increased from 7.5% for the six months ended 30 June 2009 to 9.2% for the six months ended 30 June 2010. This increase was primarily due to the increased proportion of our sales of premium and ultra premium branded automobiles, which generally have higher gross margin than sales of middle market branded automobiles, as well as increased sales of higher priced premium branded automobile models and accessories which have higher margins as a result of our adjustments in the sales strategies.

Other revenue and other net income. Our other revenue and other net income increased by 82.7% from RMB 12.7 million for the six months ended 30 June 2009 to RMB 23.2 million for the six months ended 30 June 2010, primarily due to the increase in our commission income received from financial institutions and insurance companies as we brokered more loans and insurance policies in connection with our increased sales of new automobiles. In addition, interest income from bank deposits also increased as a result of the increased balance of our pledged bank deposits.
We communicate with Audit Committee regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide Audit Committee with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with Audit Committee, we determine those matters that were of most significance in the audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

The engagement partner on the audit resulting in this independent auditor’s report is Ng Ping Fai.

PricewaterhouseCoopers

Certified Public Accountants

Hong Kong, 22 November 2017
Year ended 31 August
Note	2017	2016
RMB’000	RMB’000
Revenue	5	846,222	781,331
Cost of revenue	8	(410,464)	(375,133)
Gross profit	435,758	406,198
Selling expenses	8	(3,755)	(4,196)
Administrative expenses	8	(147,203)	(70,421)
Other income	6	22,870	6,442
Other gains/(losses) — net	7	1,060	(337)
Operating profit	308,730	337,686
Finance income	10	15,527	1,376
Finance expenses	10	(10,456)	(27,386)
Finance income/(expenses) — net	5,071	(26,010)
Profit before income tax	313,801	311,676
Income tax expense	11	—	—
Profit attributable to equity holders of the Company	313,801	311,676
Earnings per share attributable to equity holders
of the Company (RMB Yuan)
Basic	12	0.12	0.14
Diluted	12	0.12	0.14
The table below sets forth the breakdown of our revenue by treatments for other eye problems for the Track Record Period:

For the year ended 31 March	For the four months ended 31 July
2019	2020	2021	2020	2021
HK$’000	%	HK$’000	%	HK$’000	%	HK$’000	%	HK$’000	%
(Unaudited)
Treatments for other eye problems
(a) Standard cataract surgeries	16,826	46.4	16,326	44.3	18,658	41.7	5,482	44.7	6,453	36.4
(b) Laser procedures	8,151	22.4	7,364	20.0	10,302	23.0	2,801	27.8	5,424	24.5
(c) PPV surgeries	7,246	20.0	8,795	23.9	10,369	23.2	2,619	21.0	6,799	29.2
(d) Other treatments/ surgeries	4,060	11.2	4,356	11.8	5,422	12.1	1,359	11.5	3,421	9.9
Total	36,283	100.0	36,841	100.0	44,751	100.0	12,261	100.0	22,097	100.0

# Consultation and Examination Services

We provide medical consultation and examination services to our patients through our Medical Practitioners and optometrists, with support from our registered and enrolled nurses and/or nursing staff. Consultation and examination services mainly include assessments on eye conditions, such as visual acuity, refraction, anterior segment examination, fundal examination and intraocular pressure measurement. After the completion of consultation, examination and diagnosis based on our patients’ specific conditions, needs and concerns, Medication may be prescribed and/or treatments may be recommended to the patients by our Medical Practitioners. Follow-up consultation and examination services may be provided depending on the condition of the patients after taking the recommended Medication and/or completion of treatment.

# Treatment Services

We provide a range of ophthalmic treatments at our Surgery Centres or in the Private Hospitals, depending on the complexity of the treatment, the need of general anaesthesia and/or the choice of our patients. Treatment services may be recommended to our patients after the diagnosis through consultation and examination, taking into consideration a number of factors, in particular, the age and condition of the patient, the safety, effectiveness, risks and possible side-effects of the relevant treatment. One or more types of treatments may be recommended, depending on patients’ eye problems. Our Medical Practitioners will explain to patients the associated benefits and potential risks of each recommended treatment and any alternative treatment choices. We record the details of patients’ drug allergy information into our Medical Centre Management System and arrange relevant checks to ascertain the degree of myopia or hyperopia, or the curvature of corneas, before the provision of treatment services. All our patients are required to sign an operation consent form in the presence of the responsible Medical Practitioner and at least one nursing staff. Our treatment services are performed by our Medical Practitioners with assistance from frontline staff.
# XV. Notes to Key Items of the Company Financial Statements (Continued)

# 6. Investment income/(loss)

十五、公司主要財務報表項目註釋（續）

6. 投資收益╱（損失）

RMB

人民幣元

Item 項目	Incurred during
the year
本年發生額	Incurred in
previous year
上年發生額
Gain on long-term equity investments under 權益法核算的長期股權
the equity method 投資收益	112,997,281.78	109,875,033.76
Investment income arising from disposal of 處置長期股權投資產生的
long-term equity investments 投資收益	(2,344,493,792.76)	74,160,285.25
Gain on long-term equity investments under 成本法核算的長期股權
the cost method 投資收益	1,097,259,790.25	1,080,565,077.90
Other 其他	4,159,314.24	–
Total 合計	(1,130,077,406.49)	1,264,600,396.91