ChatDOC/OCRFlux-bench-single huggingface dataset:
# 32. RECONCILIATION OF THE COMPARATIVE FINANCIAL STATEMENTS WITH THE ACCOUNTANTS’ REPORT IN THE PROSPECTUS

The comparative consolidated financial statements of the Company as of December 31, 2017 in these financial statements was prepared based on the previously published consolidated financial statements in the Company’s 2017 Annual Report on Form 10-K filed with SEC on February 27, 2018. In preparing such financial statements for the year ended December 31, 2017, those new U.S. GAAPs early adopted in preparation of the accountants’ report were not early adopted, and hence differences arose between the Company’s comparative consolidated financial statements as of December 31, 2017 disclosed in these financial statements when compared with the Company’s consolidated financial statements as of December 31, 2017 as disclosed in the accountants’ report.

The reconciliations of the comparative consolidated financial statements of the Company as of December 31, 2017 in this report with the consolidated financial statements of the Company as of December 31, 2017 disclosed in the accountants’ report in the Prospectus are as follows:

Consolidated balance sheet data	As of December 31, 2017
As reported
in these
financial
statements	Adjustments adopted in
’preparing accountants report	As reported
in the
’
accountantsreport
US$	US$	US$	US$	US$
(i)	(ii)	(iii)
Unbilled receivable	—	16,307	—	—	16,307
Other non-current assets	42,915	—	(26,090)	(2,498)	14,327
Total assets	1,046,479	16,307	(26,090)	(2,498)	1,034,198
Other long-term liabilities	31,959	—	—	(9,990)	21,969
Total liabilities	362,248	—	—	(9,990)	352,258
Accumulated other comprehensive loss	(480)	—	—	263	(217)
Accumulated deficit	(330,517)	16,307	(26,090)	6,854	(333,446)
Noncontrolling interest	14,422	—	—	375	14,797
Total equity	684,231	16,307	(26,090)	7,492	681,940
Cash flows from derivative financial instruments accounted for as hedges are classified in the same category as the item being hedged.

Cash paid for interest and income taxes is as follows:

(Dollars in millions)	For years ended December 31,
2017	2016	2015
Interest, net of amounts caiiptalzed	$ 263	$ 280	$ 265
Income taxes	97	120	124
Non­cash investing and financing activities:
Outstandinig trade payables related to captal exdipentures	27	34	10
(Gain) loss from equity investments	(14)	(15)	(15)

# 19. SEGMENT INFORMATION

The Company's products and operations are managed and reported in four operating segments: Additives & Functional Products ("AFP"), Advanced Materials ("AM"), Chemical Intermediates ("CI"), and Fibers.

# Additives & Functional Products Segment

In the AFP segment, the Company manufactures chemicals for products in the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets.

The products the Company manufactures in the coatings and inks additives product line can be broadly classified as polymers and additives and solvents and include specialty coalescents, specialty solvents, paint additives, and specialty polymers. The adhesives resins product line consists of hydrocarbon and rosin resins. The tire additives product line includes insoluble sulfur rubber additives, antidegradant rubber additives, and performance resins. The care chemicals business consists of amine derivative­based building blocks for the production of flocculants and intermediates for surfactants. In the specialty fluids product line, the Company produces heat transfer and aviation fluids products. The animal nutrition business consists of formic acid­based solutions product lines. The crop protection business consists of metam­based soil fumigants, thiram and ziram­based fungicides, and plant growth regulator products.

Product Lines	Percentage of Total Segment Sales
2017	2016	2015
Coatings and Inks Additives	23%	24%	24%
Adhesives Resins	18%	21%	21%
Tire Additives	17%	17%	17%
Care Chemicals	17%	15%	15%
Specialty Fluids	13%	11%	11%
Animal Nutrition and Crop Protection	12%	12%	12%
Total	100%	100%	100%

# Advanced Materials Segment

In the AM segment, the Company produces and markets polymers, films, and plastics with differentiated performance properties for value­added end uses in transportation, consumables, building and construction, durable goods, and health and wellness markets.

The specialty plastics product line consists of two primary products: copolyesters and cellulose esters. The advanced interlayers product line includes polyvinyl butyral sheet and specialty polyvinyl butyral intermediates. The performance films product line primarily consists of window film and protective film products for aftermarket applied films.
Product Lines	Percentage of Total Segment Sales
2017	2016	2015
Specialty Plastics	51%	50%	51%
Advanced Interlayers	33%	34%	33%
Performance Films	16%	16%	16%
Total	100%	100%	100%

# Chemical Intermediates Segment

The CI segment leverages large scale and vertical integration from the cellulose and acetyl, olefins, and alkylamines streams to support the Company's specialty operating segments with advantaged cost positions. The CI segment sells excess intermediates beyond the Company's internal specialty needs into markets such as industrial chemicals and processing, building and construction, health and wellness, and agrochemicals.

In the intermediates product line, the Company produces olefin derivatives, acetyl derivatives, ethylene, and commodity solvents. The plasticizers product line consists of a unique set of primary non­phthalate and phthalate plasticizers and a range of niche non­phthalate plasticizers. The functional amines product lines include methylamines and salts, and higher amines and solvents.

Product Lines	Percentage of Total Segment Sales
2017	2016	2015
Intermediates	64%	65%	65%
Plasticizers	19%	20%	20%
Functional Amines	17%	15%	15%
Total	100%	100%	100%

# Fibers Segment

In the Fibers segment, Eastman manufactures and sells cellulose acetate tow for use in filtration media, primarily cigarette filters. The acetyl chemicals product line consists of triacetin, cellulose acetate flake, and acetyl raw materials for other acetate fiber producers. The acetate yarn product line consists of natural (undyed) acetate and polyester yarn and solution­dyed acetate yarn for use in apparel, home furnishings, and industrial fabrics.

Product Lines	Percentage of Total Segment Sales
2017	2016	2015
Acetate Tow	77%	80%	78%
AcetlChlPdy emica roucts	15%	13%	14%
Acetate Yarn	8%	7%	8%
Total	100%	100%	100%

# Other

The Company continues to explore and invest in R&D initiatives such as high performance materials and advanced cellulosics that are aligned with disruptive macro trends such as health and wellness, natural resource efficiency, an increasing middle class in emerging economies, and feeding a growing population. An example of such an initiative is the Eastman microfiber technology platform which leverages the Company's core competency in polyesters, spinning capability, and in­house application expertise for use in a wide range of applications including liquid and air filtration, high strength packaging in nonwovens, and performance apparel in textiles.

Sales revenue and expense for the Eastman microfiber technology platform growth initiative are shown in the tables below as "Other" sales revenue and operating loss. R&D, pension and other postretirement benefits, and other expenses and income not identifiable to an operating segment are shown in the tables below as "Other" operating earnings (loss).
Notes
附註	2020
二零二零年	2019
二零一九年
HK$’000
千港元	HK$’000
千港元
Non-current liabilities 非流動負債
Lease liabilities 租賃負債	35	1,246	1,677
Deferred tax liabilities 遞延稅項負債	36	2,745	2,927
3,991	4,604
Net assets 資產淨值	206,617	245,976
Capital and reserves 股本及儲備
Share capital 股本	37	77,489	77,489
Reserves 儲備	128,902	161,059
Equity attributable to 本公司擁有人應佔權益
owners of the Company	206,391	238,548
Non-controlling interests 非控股權益	226	7,428
Total equity 權益總額	206,617	245,976

The consolidated financial statements on pages 96 to 235 were approved and authorised for issue by the board of directors on 19 March 2021 and are signed on its behalf by:

第96頁至第235頁的綜合財務報表經董事會於二零二一年三月十九日批准及授權刊發，並由以下人士代表簽署：

Wang Jiawei
王嘉偉	Lai Yuk Mui
黎玉梅
Director
董事	Director
董事

The accompanying notes form an integral part of these consolidated financial statements.

隨附的附註構成此等綜合財務報表的一部分。
Attributable to the owners of the Company
本公司擁有人應佔	Non-
controling
interests
非控股權益	Total
equity
權益總額
Share
capital
股本	Share
premium
股份溢價	Fair value
through other
comprehensive
income reserve	Special
reserve	Statutory
reserve	Translation
reserve
匯兌儲備	Share-based
compensation
reserve
股份補償儲備	Accumulated
losses
累計虧損	Total
總額
(Note 38(i)
（附註38(i)）	(Note 38(i)
（附註38(i)）	(Note 38(ii)
（附註38(ii)）
按公平值計入
其他全面
收入儲備	特別儲備	法定儲備
HK$’000
千港元	HK$’000
千港元	HK$’000
千港元	HK$’000
千港元	HK$’000
千港元	HK$’000
千港元	HK$’000
千港元	HK$’000
千港元	HK$’000
千港元	HK$’000
千港元	HK$’000
千港元
Balance at 31 December 2018 於二零一八年十二月三十一日之結餘	77,489	1,673,299	–	4,779	3,912	(22,296)	30,554	(1,403,119)	364,618	13,557	378,175
Impact on initial application of HKFRS 16 對初次應用香港財務報告準則第16號的影響	–	–	–	–	–	–	–	(92)	(92)	(2)	(94)
Balance at 1 January 2019 於二零一九年一月一日之結餘	77,489	1,673,299	–	4,779	3,912	(22,296)	30,554	(1,403,211)	364,526	13,555	378,081
Loss for the year 年內虧損	–	–	–	–	–	–	–	(127,674)	(127,674)	(5,948)	(133,622)
Other comprehensive income for the year 年內其他全面收入	–	–	–	–	–	1,696	–	–	1,696	(179)	1,517
Transferred to accumulated losses 購股權失效時轉撥至累計虧損
upon lapse of share options	–	–	–	–	–	–	(8,930)	8,930	–	–	–
Balance at 31 December 2019 and 於二零一九年十二月三十一日及
1 January 2020 二零二零年一月一日之結餘	77,489	1,673,299	–	4,779	3,912	(20,600)	21,624	(1,521,955)	238,548	7,428	245,976
Loss for the year 年內虧損	–	–	–	–	–	–	–	(41,399)	(41,399)	(161)	(41,560)
Other comprehensive income for the year 年內其他全面收入	–	–	–	–	–	9,378	–	–	9,378	543	9,921
Transferred to accumulated losses upon lapse 購股權失效時轉撥至累計虧損
of share options	–	–	–	–	–	–	(21,624)	21,624	–	–	–
Fair value gains on financial assets at fair value through 按公平值計入其他全面收入之金融資產之
other comprehensive income 公平值收益	–	–	1,106	–	–	–	–	–	1,106	58	1,164
Transferred to accumulated losses upon 出售按公平值計入其他全面收入之
disposal of financial assets at fair value 金融資產儲備時轉撥至累計虧損
through other comprehensive income reserve	–	–	(1,106)	–	–	–	–	–	(1,106)	(58)	(1,164)
Acquisition of additional interest in subsidiaries 收購附屬公司之額外權益（附註21(1)及(2)）
(notes 21(1) and (2)	–	–	–	–	–	–	–	(136)	(136)	(7,584)	(7,720)
Balance at 31 December 2020 於二零二零年十二月三十一日之結餘	77,489	1,673,299	–	4,779	3,912	(11,222)	–	(1,541,866)	206,391	226	206,617

The accompanying notes form an integral part of these consolidated financial statements.

隨附的附註構成此等綜合財務報表的一部分。
# 10. Earnings/ (loss) per share - continued

# (b) Diluted earnings/ (loss) per share - continued

Diluted earnings/ (loss) per share attributable to equity holders of the Company are calculated as follows:

2015	2014
Net pro t/ (loss) attributable to equity holders of the Company and used to
determine diluted earnings per share (S$’000)	1,299	(4,968)
Weighted average number of ordinary shares outstanding for
basic earnings/ (loss) per share (‘000)	781,909	771,595
Adjustments for (‘000)
- Share options	12,278	13,478
- Warrants	1,126,926	254,331
1,921,113	1,039,404
Diluted earnings/ (loss) per share (cent per share)	0.07	(0.64)*

\* As loss was recorded, the dilutive potential shares from share options and warrants are anti-dilutive and no change is made to the diluted loss per share.

# 11. Cash and cash equivalents

Group	Company
2015	2014	2015	2014
S$’000	S$’000	S$’000	S$’000
Cash at bank and on hand	7,365	4,185	548	286
Short-term bank deposits	3,520	2,363	-	-
10,885	6,548	548	286

For the purpose of presenting the consolidated statement of cash flows, cash and cash equivalents comprise the following:

Group
2015	2014
S$’000	S$’000
Cash and bank balances (as above)	10,885	6,548
Less: Bank overdraft (Note 18)	(213)	(991)
Cash and cash equivalents per consolidated statement of cash flows	10,672	5,557
# 12. Trade and other receivables

Group	Company
2015	2014	2015	2014
S$’000	S$’000	S$’000	S$’000
Trade receivables
- Non-related parties	6,366	5,972	-	-
Bills receivables	9,068	7,379	-	-
Trade and bills receivables	15,434	13,351	-	-
Contract work-in-progress
- Due from customers (Note 14)	492	660	-	-
Advance payment for project costs	676	720	-	-
Unbilled contract revenue	7,492	4,992	-	-
Other receivables
- Subsidiary corporations	-	-	4,205	5,088
- Staff advances	-	4	-	-
- Non-related parties	158	298	-	-
- Value added tax recoverable	136	138	-	-
- Withholding tax receivable	16	17	-	-
Less: Allowance for impairment of receivables
– non-related parties (Note 26(b)(ii))	-	(138)	-	-
Other receivables – net	310	319	4,205	5,088
Deposits	429	290	-	-
Prepayments	483	467	29	19
25,316	20,799	4,234	5,107

The amount due from subsidiary corporations are non-trade in nature, unsecured, interest free and repayable on demand

# 13. Inventories

Group
2015	2014
S$’000	S$’000
Voice, video and data communication equipment	395	432

The cost of inventories recognised as an expense and included as part of “Cost of sales – equipment and consumables used” amounts to S\$40,095,000 (2014: S\$32,592,000).

The Group has recognised a write-down of its slow-moving inventories amounting to S\$44,000 (2014: S\$42,000) (Note 5).

# 14. Contract work-in-progress

Group
2015	2014
S$’000	S$’000
Contract work-in-progress
Aggregate costs incurred and pro ts recognised (less losses recognised)
to date on uncompleted contracts	492	660
Less: Progress billings	(45)	(77)
447	583
Presented as:
Due from customers on contract work-in-progress (Note 12)	492	660
Due to customers on contract work-in-progress (Note 17)	(45)	(77)
447	583
# Section 6.11 Attorney’s Fees.

In the event any claim, action, suit, proceeding, arbitration, complaint, charge or investigation is brought in respect of this Agreement or any of the documents referred to in this Agreement, the prevailing party will be entitled to recover reasonable attorneys' fees and other costs incurred in such Proceeding, in addition to any relief to which such party may be entitled.

# Section 6.12 No Waiver.

Neither any failure nor any delay by any party in exercising any right, power, or privilege under this Agreement or any of the documents referred to in this Agreement will operate as a waiver of such right, power, or privilege, and no single or partial exercise of any such right, power, or privilege will preclude any other or further exercise of such right, power, or privilege or the exercise of any other right, power, or privilege. To the maximum extent permitted by applicable laws, (a) no claim or right arising out of this Agreement or any of the documents referred to in this Agreement can be waived by a Party, in whole or in part, unless made in a writing signed by such Party; (b) a waiver given by a Party will only be applicable to the specific instance for which it is given; and (c) no notice to or demand on a Party will (i) waive or otherwise affect any obligation of that Party or (ii) affect the right of the Party giving such notice or demand to take further action without notice or demand as provided in this Agreement.

# Section 6.13 Notices.

All notices and other communications required or permitted by this Agreement shall be in writing and will be effective, and any applicable time period shall commence, when (a) delivered to the following address by hand or by a nationally recognized overnight courier service (costs prepaid) addressed to the following address or (b) transmitted electronically to the following facsimile numbers or e-mail addresses, in each case marked to the attention of the Person (by name or title) designated below (or to such other address, facsimile number, e-mail address, or Person as a Party may designate by notice to the other parties):

# Bitauto

New Century Hotel Office Tower 6/F

No. 6 South Capital Stadium Road

Beijing, 100044

The People’s Republic of China

Attention: Cynthia He

Facsimile: (86 10) 6849-2200

# Tencent

c/o Tencent Holdings Limited

29/F., Three Pacific Place, No. 1 Queen’s Road East, Wanchai, Hong Kong

Attention: Compliance and Transactions Department

E-mail: legalnotice@tencent.com
# JD

JD.com, Inc.

21/F, Building A, No.18 Kechuang 11th Street, Yizhuang Economic and Technological Development Zone, Daxing District, Beijing 101111, PRC

Attention: Legal Department (Mergers and Acquisitions Group)

Email: legalnotice@jd.com

Section 6.14 Severability.

If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

Section 6.15 Time of Essence.

With regard to all dates and time periods set forth or referred to in this Agreement, time is of the essence.

Section 6.16 Counterparts and Electronic Signatures.

(a) This Agreement and other documents to be delivered pursuant to this Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy and all of which, when taken together, will be deemed to constitute one and the same agreement or document, and will be effective when counterparts have been signed by each of the parties and delivered to the other parties.

(b) A manual signature on this Agreement or other documents to be delivered pursuant to this Agreement, an image of which shall have been transmitted electronically, will constitute an original signature for all purposes. The delivery of copies of this Agreement or other documents to be delivered pursuant to this Agreement, including executed signature pages where required, by electronic transmission will constitute effective delivery of this Agreement or such other document for all purposes.

[Remainder of page intentionally left blank.]
# DIRECTORS

The Directors of the Company during the year ended 31 December 2018 and up to the date of this report were:

# Executive Directors:

Mr. Xu Songqing (Chairman)

Mr. Luo Canwen (Chief Executive Officer)

Mr. Chen Chunniu

Mr. Xu Songman

# Non-executive Director:

Mr. Xu Jianhong

# Independent non-executive Directors:

Mr. Goh Choo Hwee

Mr. Tam Yuk Sang Sammy

Mr. Wu Chi Keung

Pursuant to Article 84 of the Articles of Association of the Company, Mr. Luo Canwen, Mr. Chen Chunniu and Mr. Wu Chi Keung shall retire by rotation and, being eligible, will offer themselves for re-election at the forthcoming annual general meeting.

# BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT

Biographical details of the Directors and senior management of the Group are set out on pages 9 to 11 of this annual report.

# DIRECTORS’ EMOLUMENTS

Details of the Directors’ emoluments are set out in note 11 to the consolidated financial statements.

No Director has waiver or has agreed to waive any emoluments and no emoluments were paid by the Group to the Directors as an inducement to join or upon joining the Group or as compensation for loss of office during the year ended 31 December 2018.

# DIRECTORS’ SERVICE CONTRACTS

Each of the executive Directors has entered into a service contract with the Company for an initial fixed term of three years with effect from the Listing Date renewable automatically unless terminated by not less than three months’ notice in writing served by either the Director or the Company.

The non-executive Director has entered into a letter of appointment with the Company for an initial term of three years renewable automatically which unless otherwise terminated pursuant to the terms of the appointment is subject to automatic renewal. The appointment shall be subject to normal retirement and re-election at the annual general meeting by Shareholders of the Company pursuant to the Articles of Association.
Each of the independent non-executive Directors has entered into a letter of appointment with the Company with effect from the Listing Date subject to retirement by rotation and re-election at annual general meetings of our Company and until terminated by not less than three months’ notice in writing served by either the Company or the relevant Director.

Apart from the foregoing, no Director proposed for re-election at the forthcoming annual general meeting has a service contract which is not determinable by the Company or any of its subsidiaries within one year without payment of compensation, other than statutory compensation.

# CONFIRMATION FROM THE INDEPENDENT NON-EXECUTIVE DIRECTORS

The Company has received from each of the independent non-executive Directors the confirmation of their independence pursuant to rule 3.13 of the Listing Rules. Based on such confirmations, the Company considers each of the independent non-executive Directors is independent in accordance with rule 3.13 of the Listing Rules.

# EQUITY-LINKED AGREEMENTS

During the year ended 31 December 2018, the Group did not entered into any equity-linked agreement.

# SHARE OPTION SCHEME

Prior to the Listing, the Company conditionally adopted a share option scheme (the “Scheme”) on 23 March 2016 which became effective and unconditional upon the Listing. The purpose of the Scheme is to enable the Company to grant options to the Eligible Persons (as defined below) as incentives or rewards for their contribution or potential contribution to the Group.

Details of the Scheme are as follows:

# a. Purpose

The primary purpose of the Scheme is to grant options as incentives or rewards to Eligible Persons for their contribution or potential contribution to the Group.

# b. Eligible Persons

The Board may, at its discretion, offer to grant an option to subscribe for such number of new Shares as the Board may determine at an exercise price determined in accordance with paragraph (h) below to any full-time or part-time employee of the Company or any member of the Group, including any executive Director, non-executive Director and independent non-executive Director, and any supplier, customer, agent, advisor and consultant of our Group who, in the sole opinion of the Board, will contribute or have contributed to the Group (collectively, the “Eligible Persons”).

# c. Total number of Shares available for issue

The total number of Shares which may be issued upon exercise of all options to be granted under the Scheme and any other share option schemes of the Company must not exceed 60,000,000 Shares, representing 10% of the Company’s issued share capital upon Listing.
# 31. Notes to the Consolidated Statement of Cash Flows (continued)

# (C) TOTAL CASH OUTFLOW FOR LEASES

The total cash outflow for leases included in the statement of cash flows is as follows:

2020	2019
HK$’000	HK$’000
Within operating activities	17,353	15,713
Within financing activities	243,148	339,622
260,501	355,335

# 32. Contingent Liabilities

At the end of the reporting period, contingent liabilities not provided for in the financial statements were as follows:

2020	2019
HK$’000	HK$’000
Bank guarantees given in lieu of utility and property rental deposits	24,757	26,921

# 33. Commitments

The Group had the following capital commitments at the end of the reporting period:

2020	2019
HK$’000	HK$’000
Contracted, but not provided for:
Leasehold improvements, furniture, fixtures and equipment	17,550	30,010