Annual Report - QuamIR

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Notes to the Consolidated Financial Statements (Continued) 12 Income tax (expense)/credit (Continued) The tax of the Group’s profit/(loss) before income tax differs from the theoretical amount that would arise using the weighted average tax rate applicable to profits/(losses) of the consolidated entities as follows: 12 2011 2010 HK$ Million HK$ Million Profit/(loss) before income tax and share of results of associated companies and jointly controlled entities 216.6 (489.0) Tax calculated at the domestic rates applicable to (profits)/losses in the respective countries (50.7) 117.5 Expenses not deductible for taxation purposes (48.9) (56.2) Income not subject to tax 85.6 20.4 Tax losses not recognised (72.5) (49.5) Mainland China land appreciation tax (33.9) (14.4) Tax (expense)/credit (120.4) 17.8 The weighted average applicable tax rate was 23.4% (2010: 24.0%). 13 Loss attributable to equity holders of the Company The loss attributable to equity holders of the Company is dealt with in the financial statements of the Company to the extent of HK$551.6 million (2010: HK$410.1 million), including provision for impairment losses on investment in subsidiaries and amounts due from subsidiaries amounting to HK$314.1 million (2010: HK$64.0 million). 23.4% 24.0% 13 551,600,000 410,100,000 314,100,000 64,000,000 134 HKC (Holdings) Limited • <strong>Annual</strong> <strong>Report</strong> 2011
Notes to the Consolidated Financial Statements (Continued) 14 Earnings/(loss) per share (a) Basic Basic earnings/(loss) per share is calculated by dividing the profit/(loss) attributable to equity holders of the Company by the weighted average number of ordinary shares in issue during the year. 14 (a) 2011 2010 Profit/(loss) attributable to equity holders of the Company (HK$ Million) 241.3 (293.8) Weighted average number of ordinary shares in issue (Million) 10,664.5 10,359.7 Basic earnings/(loss) per share (HK cents per share) 2.3 (2.8) (b) Diluted Diluted earnings/(loss) per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares including the share options and bonus warrants. A calculation is made in order to determine the number of shares that could have been acquired at fair value (determined as the average market share price of the Company’s shares during the year) based on the monetary value of the subscription rights attached to outstanding share options and bonus warrants. The number of shares calculated as above is compared with the number of shares that would have been issued assuming the exercise of the share options and bonus warrants. (b) • 135
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HKC (HOLDINGS) LIMITED (incorporat
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Contents 2 Corporate Information
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Corporate Information (Continued)
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Chairman’s Statement (Continued)
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Chairman’s Statement (Continued)
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Management Discussion and Analysis
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Corporate Governance Report (Contin
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Directors and Senior Management (Co
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Report of the Directors (Continued)
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Independent Auditor’s Report (Con
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Consolidated Statement of Comprehen
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Consolidated Balance Sheet (Continu
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Consolidated Statement of Changes i
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Consolidated Statement of Changes i
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Notes to the Consolidated Financial
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Notes to the Consolidated Financial
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Principal Subsidiaries, Associated
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Five-Year Financial Summary 2011 2
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Schedule of Principal Properties (C
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HKC (HOLDINGS) LIMITED 9/F., Tower
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Annual Report - QuamIR

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