Sun Art Retail Group Limited - TodayIR.com

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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 14 TRADE AND OTHER RECEIVABLES (continued) The amounts due from Contracted Stores as at 31 December 2012 include the balance of prepaid cards sold by the Contracted Stores which may be used by customers to purchase goods in certain of the Group’s other stores, offset by advance payments made by Contracted Stores in respect of purchase of goods. The amounts due from Contracted Store Owners comprise advances made by the Group to certain Contracted Store Owners and the Contracted Stores’ profit attributable to the Group (see note 1(f)). These amounts are not expected to be recovered within one year. Rental prepayments may be offset against future rentals due to landlords of hypermarket premises leased by the Group in accordance with the relevant lease agreements. Except for prepayments made for fixed assets which will be transferred to the relevant asset category upon receipt of the assets and the balances due from Contracted Store Owners, all of the trade and other receivables classified as current assets are expected to be recovered within one year. Details of the Group’s credit policy are set out in note 23(a). The Company At 31 December 2012 2011 RMB million RMB million Non-current Loans to subsidiaries 7,586 7,586 Interest receivable from subsidiaries 28 – Sub-total 7,614 7,586 Current Dividends receivable from subsidiaries 966 803 Others – 9 Sub-total 966 812 Trade and other receivables 8,580 8,398 The loans to subsidiaries are unsecured, bear interest at a fixed rate of 0.25% per annum and are repayable in 2014. Sun Art Retail Group Limited Annual Report 2012 89
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 15 AVAILABLE-FOR-SALE FINANCIAL ASSETS At 31 December 2012 2011 RMB million RMB million Available-for-sale financial assets 1,965 – These represent short-term financial products issued by PRC commercial banks. The principal sum of these short-term financial products are guaranteed and are repayable, together with any associated returns, on the maturity dates which range from 3 to 9 months from date of issue. These products have expected but not guaranteed returns ranging from 2.70% to 5.50% per annum. 16 TIME DEPOSITS Bank deposits as at 31 December 2012 of RMB105 million (2011: RMB67 million) have maturity of over 3 months. 17 CASH AND CASH EQUIVALENTS The Group At 31 December 2012 2011 RMB million RMB million Deposits with banks within 3 months of maturity 270 1,521 Cash at bank and on hand 4,900 5,996 Other financial assets 587 – Cash and cash equivalents in the consolidated statement of financial position and consolidated cash flow statement 5,757 7,517 Other financial assets represent investments in short-term financial products issued by PRC commercial banks, with guaranteed principals and fixed returns ranging from 1.48% to 5.00% per annum and with periods to maturity less than three months from date of issue. The Company At 31 December 2012 2011 RMB million RMB million Cash at bank and on hand 26 22 90 Sun Art Retail Group Limited Annual Report 2012
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Sun Art Retail Group Limited (Incor
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CORPORATE INFORMATION DIRECTORS Exe
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CHAIRMAN’S STATEMENT Dear Shareho
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CHIEF EXECUTIVE OFFICER’S STATEME
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MANAGEMENT DISCUSSION AND ANALYSIS
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PROFILES OF DIRECTORS AND SENIOR MA
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REPORT OF DIRECTORS Purchase, Sale
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REPORT OF DIRECTORS Notes: (1) The
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REPORT OF DIRECTORS Under the terms
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REPORT OF DIRECTORS Audit Committee
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