財務報告
2 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(a) Statement of compliance (continued) The HKICPA has issued certain new and revised HKFRSs that are first effective or available for early adoption for the current accounting period of the Group. Note 2(c) provides information on any changes in accounting policies resulting from initial application of these developments to the extent that they are relevant to the Group for the current and prior accounting periods reflected in these financial statements.
(b) Basis of preparation of the financial statements
The consolidated financial statements for the year ended 31 December 2017 comprise the Group.
T h e m e a s u r e m e n t b a s i s u s e d i n t h e preparation of the financial statements is the historical cost basis except for derivative financial instruments which are stated at their fair values (see Note 2(f)).
Non-current assets and disposal groups held-for-sale are stated at the lower of carrying amount and fair value less costs to sell (see Note 2(w)).
The preparation of financial statements in conformity with HKFRSs requires management t o m a k e j u d g e m e n t s , e s t i m a t e s a n d assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
2 重大會計政策（續）
(a) 合規聲明（續）
香港會計師公會已頒佈多項首次生效或可供本 集團於本會計期間提前採納的新訂及經修訂香 港財務報告準則。附註2(c)提供初次應用該等 發展造成的會計政策任何變動的資料，惟以該 等財務報表所反應的彼等與本集團當前及過往 會計期間相關者為限。
(b) 財務報表的編製基準
於截至二零一七年十二月三十一日止年度的綜 合財務報表包括本集團。
編製財務報表以歷史成本為計量基準，惟衍生 金融工具乃按其公平值列賬（見附註2(f)）。
非流動資產及持作出售之出售組合以賬面值 與公平值扣除出售成本之較低者列賬（見附註 2(w)）。
編製符合香港財務報告準則的財務報表時，管 理層須作出判斷、估計及假設，有關判斷、估 計及假設會影響政策的應用及資產、負債、收 入及開支的呈報金額。該等估計及相關假設乃 基於過往經驗及其他被認為合理的因素，從該 基準判斷得出的資產及負債的賬面值可能與其 他來源得出的賬面值並不一致。實際結果可能 與該等估計不同。
該等估計及相關假設按持續基準審閱。會計估 計的修訂如只影響該修訂期，則於該修訂期內 確認；修訂如影響本期間及未來期間，則於修 訂期間及未來期間確認。
2 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(b) Basis of preparation of the financial statements (continued)
Judgements made by management in the application of HKFRSs that have significant effect on the financial statements and major sources of estimation uncertainty are discussed in Note 3.
For the year ended 31 December 2017, t h e G r o u p h a d i n c u r r e d n e t l o s s o f RMB199,681,000 and net cash used in operating activities of RMB150,715,000.
Notwithstanding of the above, based on a cash flow forecast of the Group for the twelve months ending 31 December 2018 prepared by the management, the directors of the Company are of the opinion that the Group would have adequate funds to meet its liabilities as and when they fall due at least twelve months from the end of the reporting period. Accordingly, the directors of the Company consider it is appropriate to prepare the consolidated financial statements on a going concern basis.
(c) Changes in accounting policies
The HKICPA has issued several amendments to HKFRSs that are first effective for the current accounting period of the Group. None of these impact on the accounting policies of the Group. However, additional disclosure has been included in Note 21(b) to satisfy the new disclosure requirements introduced by the amendments to HKAS 7, Statement of cash flows: Disclosure initiative, which require entities to provide disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flows and non-cash changes.
The Group has not applied any new standard or interpretation that is not yet effective for the current accounting period.
(d) Subsidiaries and non-controlling interests Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed, or has rights, to variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. When assessing whether the Group has power, only substantive rights (held by the Group and other parties) are considered.
2 重大會計政策（續）
(b) 財務報表的編製基準（續）
管理層應用香港財務報告準則時所作出對財務 報表有重大影響之判斷及估計不明朗因素之主 要來源於附註3討論。
於截至二零一七年十二月三十一日止年度本 集團產生虧損淨額人民幣199,681,000元及錄 得經營活動所用現金淨額人民幣150,715,000 元。儘管出現上述情況，根據管理層編製的本 集團截至二零一八年十二月三十一日止十二個 月的現金流量預測，本公司董事認為本集團將 有充足資金於報告期末起計至少十二個月履行 其到期負債。因此，本公司董事認為按持續經 營基準編製綜合財務報表乃屬適合。
(c) 會計政策的變動
香港會計師公會已頒佈以下於本集團本會計期 間首次生效之香港財務報告準則之修訂。該等 修訂概無對本集團會計政策造成影響。然而，
附註21(b)已包括額外披露以符合香港會計準則
第7號（修訂本）：現金流量表－披露動議之新 披露要求，該修訂本要求實體提供披露，使財 務報表使用者能夠評估融資活動產生的負債變 動，包括來自現金流量及非現金的變動。
本集團並無應用任何於本會計期間並未生效的 新訂準則或詮釋。
(d) 附屬公司及非控股權益
附屬公司指受本集團控制的實體。當本集團從 參與某實體之業務獲得或有權獲得可變回報，
及有能力對實體行使其權力而影響其回報，則 本集團控制該實體。評估本集團是否有權力 時，只考慮具體權利（由本集團及其他人士持 有）。
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2 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(d) Subsidiaries and non-controlling interests (continued)
An investment in a subsidiary is consolidated into the consolidated financial statements from the date that control commences until the date that control ceases. Intra-group balances, transactions and cash flows and any unrealised profits arising from intra-group transactions are eliminated in full in preparing the consolidated financial statements. Unrealised losses resulting from intra-group transactions are eliminated in the same way as unrealised gains but only to the extent that there is no evidence of impairment.
Non-controlling interests represent the equity interests in a subsidiary not attributable directly or indirectly to the Company, and in respect of which the Group has not agreed any additional terms with the holders of those equity interests which would result in the Group as a whole having a contractual obligation in respect of those equity interests that meets the definition of a financial liability. For each business combination, the Group can elect to measure any non-controlling interests either at fair value or at the non-controlling interests’
proportionate share of the subsidiary’s net identifiable assets.
Non-controlling interests are presented in the consolidated statement of financial position within equity, separately from equity attributable to the equity shareholders of the Company. Non-controlling interests in the results of the Group are presented on the face of the consolidated statement of profit or loss and other comprehensive income as an allocation of the total profit or loss and total comprehensive income for the year between non-controlling interests and the equity shareholders of the Company.
Changes in the Group’s equity interests in a subsidiary that do not result in a loss of control are accounted for as equity transactions, whereby adjustments are made to the amounts of controlling and non-controlling interests within consolidated equity to reflect the change in relative equity interests, but no adjustments are made to goodwill and no gain or loss is recognised.
2 重大會計政策（續）
(d) 附屬公司及非控股權益（續）
於附屬公司的投資由控制開始當日至控制終止 當日綜合計入綜合財務報表。集團內公司間的 交易結餘及交易，與任何因集團內公司間交易 而產生的現金流量和未變現溢利均在編製綜合 財務報表時全數對銷。集團內公司間交易所產 生的未變現虧損以處理未變現收益的同樣方式 對銷，惟僅會在無減值跡象的情況下進行。
非控股權益指附屬公司不直接或間接歸屬於本 公司的股本權益，而本集團與該等股本權益的 持有人並無就此協定任何附加條款使本集團整 體就有關股本權益而負有符合金融負債定義的 合約性義務。本集團可在逐次企業合併基礎上 選擇按其公平值或非控股權益享有附屬公司可 識別淨資產的份額計量任何非控股權益。
在綜合財務狀況表內，非控股權益在權益內與 歸屬於本公司權益股東的權益分開列報。於本 集團業績的非控股權益，在綜合損益及其他全 面收益表內分別按年度損益總額及全面收益總 額分配予非控股權益與本公司權益股東的形式 列報。
本集團將附屬公司中不導致喪失控制權的權益 變動作為權益交易核算，據此，本集團會在綜 合權益中調整控制性權益和非控股權益的金額 以反映其相對權益的變動，但不會調整商譽，
也不會確認任何損益。
2 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(d) Subsidiaries and non-controlling interests (continued)
When the Group loses control of a subsidiary, it is accounted for as a disposal of the entire equity interests in that subsidiary, with a resulting gain or loss being recognised in profit or loss. Any equity interests retained in that former subsidiary at the date when control is lost is recognised at fair value and this amount is regarded as the fair value on initial recognition of a financial asset or, when appropriate, the cost on initial recognition of an investment in an associate or joint venture.
In the Company’s statement of financial position, an investment in a subsidiary is stated at cost less impairment losses (see Note 2(j) (ii)), unless the investment is classified as held-for-sale (or included in a disposal group that is classified as held-for-sale) (see Note 2(w)).
(e) Goodwill
Goodwill represents the excess of:
(i) the aggregate of the fair value of the consideration transferred, the amount of any non-controlling interests in the acquiree and the fair value of the Group’s previously held equity interests in the acquiree; over
(ii) the net fair value of the acquiree’s identifiable assets and liabilities measured as at the acquisition date.
When (ii) is greater than (i), then this excess is recognised immediately in profit or loss as a gain on a bargain purchase.
Goodwill is stated at cost less accumulated impairment losses (see Note 2(j)(ii)). Goodwill arising on a business combination is allocated to each cash-generating unit, or groups of cash generating units, that is expected to benefit from the synergies of the combination and is tested annually for impairment (see Note 2(j)(ii)).
On disposal of a cash generating unit during the year, any attributable amount of purchased goodwill is included in the calculation of the profit or loss on disposal.
2 重大會計政策（續）
(d) 附屬公司及非控股權益（續）
當本集團喪失對附屬公司的控制權時，會當作 出售於該附屬公司的全部股本權益核算，有關 損益在損益內確認。在喪失控制權之日在前附 屬公司中保留的任何股本權益按公平值確認，
該金額會視為金融資產初始確認的公平值或
（如適用）於聯營公司或合營企業的投資初始確 認的成本。
在本公司的財務狀況表內，除非於附屬公司的 投資分類為持作出售（或計入分類為持作出售 之出售組合（見附註2(w)），否則以成本減去減 值虧損（見附註2(j)(ii)）列值。
(e) 商譽 商譽指：
(i) 所轉讓代價的公平值、在被收購方的任 何非控股權益金額以及本集團之前在被 收購方中持有的股本權益的公平值的總 額，超過
(ii) 於收購日計量被收購方的可識別資產和
負債的淨公平值的金額。
如果(ii)大於(i)，則這超出的金額即時作為議價
購買收益在損益內確認。
商譽按成本減累計減值虧損（見附註2(j)(ii)）列 賬。業務合併產生的商譽會分配予每一個預期 能從業務合併協同效應獲益的現金產生單位或 現金產生單位組，並每年進行減值測試（見附 註2(j)(ii)）。
於年內出售現金產生單位後，購買商譽的任何 應佔金額計入計算出售之損益。
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2 SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
(f) Derivative financial instruments
Derivative financial instruments are recognised initially at fair value. At the end of each reporting period the fair value is remeasured.
The gain or loss on remeasurement to fair value is recognised immediately in profit or loss.
(g) Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and impairment losses (see Note 2(j)(ii)).
The cost of self-constructed items of property, plant and equipment includes the cost of materials, direct labour, the initial estimate, where relevant, of the costs of dismantling and removing the items and restoring the site on which they are located, and an appropriate proportion of production overheads and borrowing costs (see Note 2(v)).
Gains or losses arising from the retirement or disposal of an item of property, plant and equipment are determined as the difference between the net disposal proceeds and the carrying amount of the item and are recognised in profit or loss on the date of retirement or disposal.
Depreciation is calculated to write off the cost of items of property, plant and equipment, less their estimated residual values, if any, using the straight line method over their estimated useful lives as follows:
Estimated useful lives
Plant and buildings 20 years
Machinery and equipment 5-10 years
Motor vehicles and 3-5 years
other equipment
2 重大會計政策（續）
(f) 衍生金融工具
衍生金融工具初始按公平值確認。在每個報告 期末，公平值會重新計量。重新計量至公平值 時產生的損益立即在損益中確認。
(g) 物業、廠房及設備
物業、廠房及設備按成本扣減累計折舊及減值 虧損（見附註2(j)(ii)）列值。
自行建造物業、廠房及設備項目的成本，包括 材料成本、直接勞工成本、拆卸及搬遷項目以 及恢復項目所在地原貌的初步估計成本（如適 用），以及適當比例的生產成本及借款費用（見 附註2(v)）。
報廢或出售物業、廠房及設備項目產生的損 益，按出售所得款項淨額與該項目賬面值之間 的差額予以確定，並在報廢或出售當日在損益 中確認。
各項物業、廠房及設備在扣除其預計殘值（如 有）後，採用直線法在其估計可使用年期內按 足以撇銷其成本的折舊率折舊，年率如下：
估計可使用年期
廠房及樓宇 20 年
機器及設備 5 至10 年 汽車及其他設備 3 至 5年