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The lithium industry of Ganzi Prefecture financial Limited directory Page ,1-2 audited financial statements balance sheet 3-4 income statement 5 Statement of Cash Flows 6 merger of changes in equity 7 the parent company of changes in equity 8 Financial Statements 9-49 audit report ClubGuang Shen Zi [2013] No. 12005750025 Road Xiang Co., Ltd. all shareholders: We have audited the accompanying the Ganzi Prefecture financial reached Lithium Industry Co., Ltd. (hereinafter referred to as the "melting of the lithium industry company") Choi statements, including the November 30, 2012, the consolidated and parent company balance sheet, together in January-November 2012 and parent company income statement, the consolidated and parent company cash flow statement, changes in equity of the consolidated and parent company owners Financial Statements. First, the responsibility of the management of the financial statements the preparation and fair presentation of the financial statements of the financial responsibility up to the company's management of the lithium industry, this responsibility includes: (1) preparation of financial statements in accordance with the provisions of the Accounting Standards for Enterprises, and make it fairly reflect; (2) the design, implementation and maintain the necessary internal controls and financial statements so that there is no cause of material misstatement due to fraud or error. Auditor's Responsibility Our responsibility is to perform the audit on the basis of audit opinion on the financial statements. We follow Statements of Auditing Standardscountry registered accountant to perform the audit work. The Chinese Institute of Certified Public Accountants Auditing Standards require that we abide by the code of ethics of the Chinese Institute of Certified Public Accountants, plan and perform the audit to whether the financial statements do not exist obtain reasonable assurance. audit involves performing audit procedures to obtain audit evidence about the amount of the financial statements and disclosure. Election The audit proceduresselection depends on the auditor's judgment, including the financial statements due to fraud or error caused by heavy evaluation of misstatements risk in. In making those risk assessments, the certified public accountants consider the preparation of financial statements and fair column reported internal control, in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of the effectiveness of internal control published opinions. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by , as well as evaluating the overall financial statement presentation. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. 1 audit opinion we think Rongda the lithium industry companies compiled financial statements, in all material respects, in accordance with the provisions of the Accounting Standards for Enterprises made fairly the financial position of the financial Lithium industry on November 30, 2012, and from January to November 2012 results of operations and cash flows. Guangdong GP Certified Public Accountants Ltd. Chinese Institute of Certified Public Accountants: Chen Hailing Chinese Institute of Certified Public Accountants: He Huafeng Guangzhou, China, January 6, 2013 2 balance sheet Prepared by: the Ganzi Prefecture financial Lithium industry Co., Ltd. Unit: RMB Notes, five Notes to of twelve 2012.11.302011.12.31 assets Consolidated Parent company Consolidated Parent company Consolidated Parent Current assets: monetary funds 17,754,250.915,180,203.0115,369,114.0514,694,023.39 trading assets notes receivable 2940,000.00540,000.009,879,179.347,550,959.34 receivables 318,076,857.947,975,877.9440,480.89313,500.89 prepayments 411,518,389.2010,491,939.2023,682,748.5922,054,748.59 interest receivable dividends receivable other receivables 521,864,998.63,311,699.662,395,315.733,614,107.91 inventory 625,017 Replica bell ross,361.7623,782,705.824,549,864.3621,836,227.51 due within one yearnon-current assets Other current assets Total current assets 55,171,858.4151,282,425.6175,916,702.9670,063,567.63 non-current assets: available-for-sale financial assets held-to-maturity investments long-term receivables thelong-term equity investment 310,000,000.0010,000,000.00 investment real estate fixed assets 7138,016,493.70137,950,279.80139,919,418.30139,875,465.00 under construction the engineering 811,838,424.457,783,237.257,767,485.236,042,295.84 construction materials Disposal of fixed assets productive biological assets oil and gas assets intangible assets 9136,140,646.70136,084,008.1028,870,877.3028,835,887.61 development expenditure goodwill long-term prepaid expenses 1025,163,704.5725,163,704.5721,710,747.921,710,747.90 deferred income tax assets 11136,150.2247,038.361,858,867.051,438,380.99 other non-current assets non-current assets Total 311,295419.60317,028,268.10200,127,395.80207,902,777.30 Total assets 366,467,278.10368,310,693.70276,044,098.80277,966,344.90 Legal representative: Chen Ju Gang ofcompany in charge of accounting: WANG Jun-rong accounting department: GAO Chun 3 balance sheet (continued) Prepared by: the Ganzi Prefecture financial Lithium industry Co., Ltd. Unit: RMB Notes, five Notes to of twelve 2012.11.302011.12.31 liabilities and shareholders' equity Consolidated Parent company Consolidated Parent company Consolidated Parent Current liabilities: short-term borrowings 1349,000,000.0049,000,000.0035,000,000.0035,000,000.00 trading financial liabilities notes payable payables 1411,523,302.4211,503,302.3621,006,129.3321,006,129.33 receipts in advance 156,832,602.938,178,371.4312,290,563.2412,289,593.24 the cope payroll16287,889.04287,889.04 Taxes payable 172,734,736.732,867,429.562,406,381.293,003,203.74 cope the interest 1866,150.0066,150.0061,720.4361,720.43 Dividends payable other payables 19232,318,601.50232,304,865.60149,975,867.50149,975,867.50 Non-current liabilities due within one year
other current liabilities Total current liabilities 302,763,282.70304,208,008.00220,740,661.80221,336,514.20 Non-current liabilities: ------------ long-term borrowings bonds payable long-term payables special accounts payable expected liabilities 201,422,904.071,422,904.071,372,576.271,372,576.27 deferred income tax liabilities other non-current liabilities 215,000,000.005,000,000.005,000,000.005,000,000.00 non-current liabilities Total 6,422,904.076,422,904.076,372,576.276,372,576.27 Total liabilities 309,186,186.70310,630,912.10227,113,238.00227,709,090.50 owners' equity: ------------ paid-in capital 2250,000,000.0050,000,000.0050,000,000.0050,000,000.00 capital surplus 231,977,801.021,977,801.02 Less: treasury stock special reserve 242,382,509.642,382,509.641,311,850.241,311,850.24 surplus reserve general risk reserve retained earnings 252,920,780.663,319,470.96-2,380,989.51-1,054,595.77 attributable to the equity holders of the Company Total 57,281,091.3257,679,781.6248,930,860.7350,257,254.47 minority interests Total owners' equity 57,281,091.3257,679,781.6248,930,860.7350,257,254.47 liabilities and owners' equity Total 366,467,278.10368,310,693.70276,044 Replica piaget watch,098.80277,966,344.90 Legal representative: Chen Ju Gang ofcompany in charge of accounting: WANG Jun-rong accounting department: GAO Chun 4 profit table Prepared by: the Ganzi Prefecture financial Lithium industry Co., Ltd. Unit: RMB NOTES NOTES five year January to November 2011, twelve in 2012 project Consolidated Parent company Consolidated Parent company Consolidated Parent thea total revenue of 72,278,997.1666,669,439.6244,274,112.9547,650,202.78 including: the operating income 26472,278,997.1666,669,439.6244,274,112.9547,650,202.78 two business the total cost 65,568,524.5861,218,044.6840,440,839.1242,070,124.00 including: the operating costs 26449,562,631.7247,006,192.2028,431,670.5331,154,281.74 business tax and surcharges 271,410,760.181,294,330.02917,856.04905,331.08 selling expenses 281,710,065.821,163,849.441,194,944.421,007,853.98 management fees 299,418,904.948,284,869.667,194,790.896,288,009.47 finance charges 303,484,336.283,487,658.542,509,980.392,524,284.71 asset impairment loss 31-18,174.36-18,855.18191,596.85190,363.02 Plus: fair value gains (losses "-" for loss) investment income : associates and joint ventures the investment incomeindustry operating profit 6,710,472.585,451,394.943,833,273.835,580,078.78, added: the operating income 324,513.874,513.87568.65568.65 Less: Non-operating expenses 331,300.001,300.00469.52394.67 which: non-current assets at the Ge loss total profit 6,713,686.455,454,608.813,833,372.965,580,252.76. Less: Income tax expense 341,411,916.281,080,542.081,297,163.511,717,649.57 net profit 5,301,770.174,374,066.732,536,209.453,862,603.19 attributable to owners of parent company net profit 5,301,770.174,374,066.732,536,209.453,862,603.19 Run Minority interests other comprehensive income seven, total consolidated income 5,301,770.174,374,066.732,536,209.453,862,603.19 attributable to equity holders of the consolidated 5,301,770.174,374,066.732,536,209.453,862,603.19 total revenue thecomprehensive income attributable to minority shareholders total Legal representative: Chen Ju Gang ofcompany in charge of accounting: WANG Jun-rong accounting department: GAO Chun 5 cash flow statement Prepared by: the Ganzi Prefecture financial Lithium industry Co., Ltd. Unit: RMB Notes to the 1950s and 2012, the year from January to November 2011 project Consolidated Consolidated Parent Consolidated Parent cash flow generated from operating activities: sales of goods and services received in the cash 64,837,113.1356,609,849.1366,545,099.6572,556,974.65 Refunds of taxes
receive other cash related to operating activities 35 (1) 3,903,219.053,714,811.275,081,329.005,064,238.68 theactivities Subtotal of cash inflows 68,740,332.1860,324,660.4071,626,428.6577,621,213.33 purchase goods, accept the the labor cash paid 30,233,114.5327,066,622.9839,588,693.1039,409,112.60 paid to and for employees to pay cash 13,112,466.5012,204,621.7113,126,840.9412,310,298.47 all taxespaid 9,731,629.189,345,660.503,524,795.273,469,280.84 pay other cash related to operating activities 35 (2) 9,658,212.799,010,897.415,857,433.155,396,166.89 operating activities Subtotal of cash outflows 62,735,423.0057,627,802.6062,097,762.4660,584,858.80 Net cash flow generated from operating activities 6,004,909.182,696,857.809,528,666.1917,036,354.53 Second, the cash flows from investing activities: ------------ Cash received from investment recovery investment income received cash at Ge fixed assets, intangible assets and other long-term assets, net of cash The Ge of subsidiaries and other business units, net of cash receivedat cash received relating to investing activities 49,687.09 cash inflow from investing activities Subtotal 49,687.09 acquisition of fixed assets, intangible assets and other long-term assets to pay the cash 74,766,911.2173,307,504.1613,776,117.9413,611,217.94 investment cash paid 10,000,000.00 acquisition of subsidiaries and other business units, net of cash paid the pay cash related to investing activities12,616,076.9010,963,755.90 100,000.00 investing activities Subtotal of cash outflows 74,766,911.2173,407,504.1626,392,194.8434,574,973.84 Net cash flow generated from investing activities-74,766,911.21-73,357,817.07-26,392,194.84-34,574,973.84 Third, the cash flow from financing activities: ------------ Cash received from investments which: subsidiary minority shareholders received cash made the the borrower cash received 49,000,000.0049,000,000.0035,000,000.0035,000,000.00 issue bonds received cash receive other cash related to financing activities 35 (3) 70,000,000.0070,000,000.0049,980,000.0049,980,000.00 financing activities Cash inflows 119,000,000.00119,000,000.0084,980,000.0084,980,000.00 Cash paid for debt 35,000,000.0035,000,000.0035,000,000.0035,000,000.00 distribution of dividends, profits or reimburse the interest paid cash 1,852,861.111,852,861.112,051,427.772,051,427.77 which: dividends paid by subsidiaries to minority shareholders, profit pay other cash related to financing activities 35 (4) 21,000,000.0021,000,000.0019,900,000.0019,900,000.00 financing cash outflows 57,852,861.1157,852,861.1156,951,427.7756,951,427.77 Net cash flow from financing activities 61,147,138.8961,147,138.8928,028,572.2328,028,572.23 Fourth, the impact of exchange rate changes on cash and cash equivalents V. Net increase in cash and cash equivalents -7,614,863.14-9,513,820.3811,165,043.5810,489,952.92 Add: Cash and cash equivalents balance 15,369,114.0514,694,023.394,204,070.474,204,070.47 VI Cash and cash equivalents balance 7,754,250.915,180,203.0115,369,114.0514,694,023.39 Legal representative: Chen Ju Gang ofcompany in charge of accounting: WANG Jun-rong accounting department: GAO Chun 6 merger of changes in equity Prepared by: the Ganzi Prefecture financial Lithium industry Co., Ltd. Unit: RMB 2012 January-November 2011, the year Minority owners' equity attributable to the equity holders of the Companyproject co attributable to the equity holders of the Company Minority interests Total equity paid-in capital Capital reserve reserve reserve a specialto undistributed profits beneficial meter paid-in capital Capital reserve reserve reserve a special Retained earnings one end of last year the balance 50,000,000.001,311,850.24-2,380,989.5148,930,860.73 50,000,000.00547,706.68-4,917,198.9645,630,507.72 Add: Changes in accounting policies Prior period errors Second, the beginning of the year the balance 50,000,000.001,311,850.24-2,380,989.5148,930,860.73 50,000,000.00547,706.68-4,917,198.9645,630,507.72 Third, the current amount of Changes 1,977,801.02100,566.701,336,211.933,414,579.65764,143.562,536,209.453,300,353.01 (a) net profit 1,336,211.931,336,211.932,536,209.452,536,209.45 (b) Other comprehensive income described in (a) and (b) Subtotal 1,336,211.931,336,211.932,536,209.452,536,209.45 the(c) the owner of the investment and reduce the capital 1,977,801.021,977,801.02 1. the owners invested capital 2. Share-based payments included in the owners' benefit amount 3. The other 1,977,801.021,977,801.02 The profit distribution(d) 1. Transfer to surplus reserve 2. Extract the general risk reserve 3. Assigned to the owners (shareholders) 4. Other (e) Owners' equity 1. Capital reserve into capital (or equity) 2. Surplus reserve into capital (or equity) 3. Surplus reserves make up losses 4. Other (f) special reserve 100,566.70100,566.70764,143.56764,143.56 1, Current extraction 168,165.70168,165.70779,843.56779,843.56 2, the period -67,599.00-67,599.00-15,700.00-15,700.00 (g) period ending balance 50,000,000.001,977,801.021,412,416.94-1,044,777.5852,345,440.38. 50,000,000.001,311,850.24-2,380,989.5148,930 860.73 Legal representative: Chen Ju Gang ofcompany in charge of accounting: WANG Jun-rong accounting department: GAO Chun 7 changes in equity Prepared by: Ganzi Prefecture financial Lithium Industry Co., Ltd. (the parent company) Unit: RMB 2012 January-November 2011, the year Item owner's equity together paid-in capital Capital reserve Special reserve surplus reserve Retained earnings of owners' equity Total paid-in capital Capital reserve reserve reserve a special Retained earnings meter one end of last year the balance 50,000,000.001,311,850.24-1,054,595.7750,257,254.4750,000,000.00547,706.68-4,917,198.96 45,630,507.72 Add: Changes in accounting policies Prior period errors Second, the beginning of the year the balance 50,000,000.001,311,850.24-1,054,595.7750,257,254.4750,000,000.00547,706.68-4,917,198.96 45,630,507.72 Third, the current amount of Changes 1,977,801.02100,566.70807,258.732,885,626.45764,143.563,862,603.19 4,626,746.75 the(a) net profit 807,258.73807,258.733,862,603.19 3,862,603.19 (b) Other comprehensive income above (a) and (b) Subtotal 807,258.73807,258.733,862,603.19 3,862,603.19 the(c) the owner of the investment and reduce the capital 1,977,801.021,977,801.02 1. the owners invested capital 2. The amount of shares included in the owners' equity 3. The other 1,977,801.021,977,801.02 The profit distribution(d) 1. Transfer to surplus reserve 2. Extract the general risk reserve 3. Assigned to the owners (shareholders) 4. Other (e) Owners' equity 1. Capital reserve into capital (or equity) 2. Surplus reserve into capital (or equity) 3. Surplus reserves make up losses 4. Other (f) special reserve 100,566.70100,566.70764,143.56764,143.56 1, Current extraction 168,165.70168,165.70779,843.56779,843.56 2, the period -67,599.00-67,599.00-15,700.00-15,700.00 Fourth, the current ending balance 50,000,000.00 1,977,801.021,412,416.94-247,337.0453,142,880.9250,000,000.001,311,850.24-1,054,595.77 50,257,254.47 statutoryrepresentative: Chen Ju Gang in charge of accounting: WANG Jun-rong accounting department: GAO Chun 8 The lithium industry ofGanzi Prefecture financial Limited in January-November 2012 Financial Statements Unit: Yuan Currency: RMB a basic (a) Company History theGanzi Prefecture Rongda Lithium Industry Co replica rolex for women., Ltd. (hereinafter referred to as the "Company" or the "Company"), is melting by Guangzhou Investment Company Limited Division Sichuan Province Mining Ltd. in investment in the establishment of a limited liability company in July 26, 2005, Ganzi Tibetan Governance State Administration for Industry and registration, and obtain a registration number 513,300,000,005,972's business license. Company into immediately registered capital of RMB 3,500 million, of which: Guangzhou Youngy Investment Management Group Limited to invest $ 30 million, accounting for 85.71% of the shares; Sichuan Province Mining Co., Ltd. invested 500 million yuan, accounting for 14.29% of the shares. 2006, the shareholders of the Company resolved to increase the registered capital of RMB 15 million, the registered capital after the change RMB 5,000 million, of which: Guangzhou Youngy Investment Management Group Limited investment of $ 35 million, accounting for 70% of the shares; Sichuan Province Mining Co., Ltd. invested $ 15 million, accounting for 30% of the shares. August 2, 2010, Lu Xiang Co., Ltd. and Guangzhou Youngy Management & Investment Group Co., Ltd., Sichuan Province Mining Co. The company ofsigned an equity transfer tripartite agreement the Lu Xiang Co., Ltd. to 73.1 million yuan transferee Guangzhou Youngy Investment Group Co., Ltd. 21%, Sichuan Province Mining Co., Ltd. 30% stake. Change of equity shareholding structure becomes Lu Xiang shares accounted for 51% of the shares of the CompanyGuangzhou Youngy Investment Management Group Ltd. accounted for 49% of the shares. 2010 30, Guangzhou Youngy Investment Management Group Limited to 600 million price 6% stake transferred to HONGKONG. the equity change after, Lu Xiang Co., Ltd. accounted for 51% of the shares of the company, Guangzhou Youngy Investment Management Group Ltd. accounted for 43% of the shares, HONGKONG account for 6% of the shares. completion and acceptance by the company in September 2010 bywhole, has gone into operation. (b) of the companies by industry sector This company belongs to the mining industry. (c) The operating range the Company's business scope includes: mining, to select spodumene quarry; processing and marketing of lithium ore, beryllium concentrate, tantalum and niobium concentrates and lithium deep processing products. (State laws and regulations shall not limit the scope of business) (d) legal address the domicile of the company Kangding County, Ganzi Tibetan Autonomous Prefecture, Sichuan Province stove towns bright 3. Second, the company's principal accounting policies, accounting estimates and prior period error (a) Basis of preparation of financial statements the Company is a going concern basis, based on actual transactions and events occurred, according to the Ministry of Finance issued on February 15, 2006 the"Accounting Standards for Business Enterprises - Basic Standard" and 38 specific accounting standards, subsequently issued by the Accounting Standards for Enterprises Application Guide, enterprise industry accounting standards interpretations and other relevant provisions (hereinafter referred to as "Enterprise Accounting Standards") are recognized and measured based on 9 The lithium industry ofGanzi Prefecture financial Limited in January-November 2012 Financial Statements Unit: Yuan Currency: RMB Accounting Policies The preparation of financial statements according to the formulation. (b) follow the Statement of Accounting Standards for Business Enterprises the Company financial statements prepared in line with the requirements of the "Enterprise Accounting Standards" true and complete reflection of the reporting period the Company information about the financial position, operating results and cash flows between. (c) the accounting period The companyusing the calendar year as the accounting year, ie since January 1 to December 31 of each year for one fiscal year. (d) Functional currency the Company is RMB. (e) Basis of accounting principles The adoption accrual accounting basisborrowing double-entry bookkeeping method of accounting. In addition to the special instructions in the notes tovaluation basis, generally the actual cost pricing principle. Assets at actual cost when acquired, if later occur owned case of asset impairment, provision for impairment of assets. (f) a business combination business combination is formed by the merger of two or more separate entities transaction or event of a reporting entity. The Company in combination date or date of purchase to confirm due to assets acquired through business combinations, liabilities, date of merger or purchase date actually obtained by the merging parties or date control of the acquiree. thecorporate merger under common control, the assets and liabilities acquired in a business combination as the merging parties, in accordance with the merger date is measured at the carrying value of the merging parties, acquired the net book value of assets and the payment of the merger on the price of the book value of the difference between the adjustment owned the reserve; capital reserve is insufficient, any excess is adjusted to retained earnings. for enterprises under common control, consolidation, merger cost the Company at the date of purchase to obtain control of the purchaser to pay assets, equity securities issued and liabilities incurred or assumed at fair value. The cost of the combination is greater than the merger share of the fair value of the net assets of the acquiree's identifiable difference is recognized as goodwill; combined cost less than the merger was purchased share of the fair value of the identifiable net assets, after reexamination, through profit or loss. (g) the preparation of the consolidated financial statements The scope of consolidationconsolidated financial statements include the Company and a subsidiary of the Company. The results of operations and financial condition of the subsidiary by the date that control commences until the control end date included in the consolidated financial statements. the Company through the acquisition of subsidiaries under the same control in the preparation of the consolidated financial statements for the current period, are deemed to be merged thesubsidiaries control over the ultimate controlling party of the Company included in the scope of consolidation and the consolidated financial statements beginning of the period, and before the of comparative statements be adjusted accordingly. 10 The lithium industry ofGanzi Prefecture financial Limited in January-November 2012 Financial Statements Unit: Yuan Currency: RMB the Company Subsidiaries acquired through business combination under common control, and in the preparation of the consolidated financial statements for the current period to the merger date determine the identifiable assets and liabilities at fair value based on the financial statements of the subsidiary adjustments from the merger date consolidated subsidiaries included in the scope of consolidation. accounting period or accounting policies of subsidiariesinconsistent with the Company in the preparation of the consolidated financial statements by the Company accounting period or accounting policies of the subsidiary's financial statements to make the necessary adjustments. Between enterprises within the scope of consolidation of all major cross transactions, balances and unrealized gains and losses to be offset in the preparation of the consolidated financial statements. Insider trading occurs, the unrealized loss card According show that the loss is related to asset impairment losses, not offset. equity and profit or loss of thesubsidiaries attributable to minority interests in the consolidated balance sheet under shareholders' equity and the consolidated income statement in net profit project separately. if the current loss of the minority shareholders of subsidiary exceeds the minority shareholders in the owner's equity of the subsidiary at the beginning enjoyed theshare of the balance still should be offset against the minority interests. (h) Cash and Cash equivalents the Company's cash to the Company's cash on hand and can be used to pay the deposit; equivalent refers to the public Division held the short-term, highly liquid investments that are readily convertible into known amounts of cash and an insignificant risk of changes in value of investment. (9) foreign currency business The amount of functional currency are translated into the foreign currency amount the spot exchange rateforeign currency transactions in the initial recognition of the transaction date. at the balance sheet date, foreign currency monetary items are translated using the spot exchange rate of the balance sheet date due to the balance sheet date spotexchange initial recognition or prior to the balance sheet date and the spot exchange rate translation differences arising in addition to the fixed assets of the acquisition, construction In capitalized principles, exchange gains and losses generated by the specialized foreign currency funds borrowings betweendirectly through profit or loss. Historical cost measurement of foreign currency non-monetary items, still using the spot exchange rate at the transaction date, does not change the amount of functional currency. fair value of foreign currency non-monetary items at fair value determined at the spot exchange rates and the resulting exchange difference the amount of profit or loss or capital surplus. (j) financial instruments - Classification of financial assets and financial liabilities financial assets at initial recognition is divided into the following four categories: financial assets at fair value through profit or loss production (including trading financial assets designated as at fair value through profit or loss Financial assets and their changes), held -to-maturity investments, loans and receivables, available-for-sale financial assets. financial liabilities at initial recognition is divided into the following two categories: measured at fair value with changes included in the profit or loss of financial liabilities debt (including trading financial liabilities designated as at fair value and changes in financial liabilities through profit or loss), other financial liabilities. 11 The lithium industry ofGanzi Prefecture financial Limited in January-November 2012 Financial Statements Unit: Yuan Currency: RMB - financial assets and financial liabilities Recognition and measurement methods company to become a party to the financial instrument contract, the recognition of a financial asset or financial liability. The initial recognition of the financial asset or financial liabilities are measured at fair value; financial assets at fair value through profit or loss and financial liabilities related transaction costs directly through profit or loss; For other categories of financial assets or financial liabilities, related transaction costs included in the amount initially recognized. The subsequent measurementCompany in accordance with the fair value of financial assets not deduct at to Ge the financial assets may occur in the future transaction costs, with the following exceptions: ? held-to-maturity investments, loans and receivables, using the effective interest method, press the Amortised measured at cost; ? are not quoted in an active market and whose fair value can not be reliably measured investments in equity instruments, as well as with the right of equity instruments Derivative financial assets linked to and must be settled by delivery of the equity instruments, measured by cost. using the effective interest methodfinancial liabilities are subsequently measured at amortized cost, with the following exceptions: ? fair value measurement and changes in its financial liabilities through profit or loss are measured at fair value, without any deduction for settlement of financial liabilities may occur when transaction costs; ? equity instruments that are not quoted in the active market, fair value can not be measured reliably linked and shall be settled by the delivery of the equity instruments Derivative financial liabilities be measured at cost; ? does not belong designated as fair value weight and changes in financial liabilities through profit or loss financial guarantee contract, or is not designated as at fair value and changes in through profit or loss will be below market rate loans, loan commitments, in accordance with the current obligation required the best estimate of the expenditure count with the initial recognition of the higher of the amount deducted in accordance with the effective interest method of amortization accumulated amortization balance the two amounts into subsequent measurement ofline. - Transfer of financial assets Recognition and measurement methods has financial assets inownership of almost all the risks and rewards are transferred to the party, derecognition of the financial asset production; retains ownership of the financial assets of almost all the risks and rewards, continues to recognize the transferred financial assets and the closing The considerationto be recognized as a financial liability. Neither transferred nor retained almost all of the risk on the ownership of financial assets and rewards, handled by the following: ? to give up control of the financial asset derecognition of the financial asset; (2) did not put abandoned control of the financial asset is recognized to the extent of its continuing involvement in the transferred financial assets on financial assets and recognizes related liabilities. financial asset in its entirety, the following two amounts is recognized in profit or loss derecognition criteria: (1) turn the carrying value of theshift financial assets; (2) the consideration received from the transfer, with the originally recorded in the fair value of the owner's equity movements accumulative amount and. The financial partial transfer of assets to meet the derecognition criteria, the transfer of the carrying value of the financial assets as a whole, derecognised part and no part is derecognised between apportioned in accordance with their relative fair value of the following two amounts the difference between profit or loss: (1) the book value; derecognised part (2) derecognition of part of the consideration, with the original direct crediting changes in the fair value of the owner's equity and accumulative amount corresponding amount derecognised part. - the main method for determining the fair value of financial assets and financial liabilities 12 The lithium industry ofGanzi Prefecture financial Limited in January-November 2012 Financial Statements Unit: Yuan Currency: RMB financial assets or financial liabilitiesthere is an active market to offer an active market to determine its fair value; there is no active market thefield of financial assets or financial liabilities, using valuation techniques (including the reference to the City, knowledgeable and willing parties the transaction pricesfield, the current fair value of other financial instrument that is substantially the same, discounted cash flow method and period Link Partners? |
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