Company Share Accumulated Total capital losses equity RMB000 RMB000 RMB000

Company share accumulated total capital losses equity

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CompanyShare Accumulated Total capital losses equity RMB’000 RMB’000 RMB’000Balance at 1 January 2016 146,161 (8,299) 137,862 Loss for the year, representing total comprehensive loss for the financial year - (1,808) (1,808)Balance at 31 December 2016 146,161 (10,107) 136,054 Loss for the year, representing total comprehensive loss for the financial year - (1,237) (1,237)Balance at 31 December 2017 146,161 (11,344) 134,817 STATEMENTS OF CHANGES IN EQUITYFINANCIAL YEAR ENDED 31 DECEMBER 2O17 (con’t’d)
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HB GLOBAL LIMITED lAnnual Report 201745The accompanying notes form part of these financial statements.CONSOLIDATED STATEMENT OF CASH FLOWSFINANCIAL YEAR ENDED 31 DECEMBER 2O17Note 2017 2016RMB’000 RMB’000Cash flows from operating activities Profit/(Loss) before income tax 22,109 (24,885)Adjustments for: Depreciation of property, plant and equipment 25 17,154 18,694 Amortisation of land use rights 25 1,443 1,497 Property, plant and equipment written off 23 372 - Impairment loss on advance payments of land use rights 23 261 373 Impairment loss on land use rights 23 280 325 Impairment loss on property, plant and equipment 23 4,032 2,961 Impairment loss on advance payments of land use rights written back 22 (166) - Reversal of inventory written down 22 (808) - Impairment loss on land use rights written back 22 (564) (1,157)Impairment loss on property, plant and equipment written back 22 (6,743) (4,366)Biological assets written off 23 - 203 Gain on disposal of land use rights 22 (1,241) - Gain on disposal of property, plant and equipment 22 (326) - Gain on disposal of biological assets 22 - (268)Interest income 22 (68) (84)Interest expense 24 6,929 15,054 Unrealised foreign exchange loss 307 1,100 Operating profit before working capital changes 42,971 9,447 Changes in working capital Trade and other receivables (39,200) (4,734)Inventories (2,529) 4,326 Trade and other payables 23,496 (1,275)Cash generated from operations 24,738 7,764 Interest received 68 84 Net cash from operating activities 24,806 7,848 Cash flows from investing activities Purchase of property, plant and equipment 28 (2,903) (4,712)Proceeds from disposal of property, plant and equipment 4,643 - Proceeds from disposal of land use rights 5,708 - Proceeds from disposal of biological assets - 2,552 Net cash from/(used in) investing activities 7,448 (2,160)Cash flows from financing activities Proceeds from borrowings from directors 1,116 544 Repayment of loan from third parties - (100,000)(Repayment of)/Proceeds from bank loans (26,900) 107,500 Interest paid (6,190) (14,311)(Repayment of)/Proceeds from bills payables (10,000) 10,000 Movement in restricted cash and bank balances 4 10,000 (10,000)Net cash used in investing activities (31,974) (6,267)Net change in cash and cash equivalents 280 (579)Cash and cash equivalents at beginning of financial year 121 700 Cash and cash equivalents at end of financial year 4 401 121
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HB GLOBAL LIMITED lAnnual Report 201746These notes form part of and should be read in conjunction with the accompanying financial statements.1. GENERAL (a) CORPORATE INFORMATIONThe Company is incorporated and domiciled in the Republic of Singapore with its registered office located at 80 Robinson Road, #17-02, Singapore 068898. The address of the principal place of business of the Group is Weifang Road, Juxian Industry Garden, Ju County, Rizhao City, Shandong Province, People’s Republic of China (“PRC”).
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