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Other income and expenses recognized in statement of profit and loss

12 Months Ended

Dec. 31, 2019

Other income and expenses recognized in statement of profit and loss

8.1	Depreciation, amortization, shipping and handling expenses

(a)

Depreciation and amortization expenses


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Amortization of intangible assets		—		—		1,012		143
Amortization of prepaid operating lease		12,366		12,724		—		—
Depreciation of investment property		248		884		380		54
Depreciation of property, plant and equipment		431,567		420,277		422,859		59,683
Depreciation of right-of-use assets		—		—		40,958		5,781

		444,181		433,885		465,209		65,661

Depreciation and amortization expenses are included in the following captions:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		307,102		312,769		315,445		44,523
Research and development expenses		48,291		26,751		16,470		2,325
Selling, general and administrative expenses		88,788		94,365		133,294		18,813

		444,181		433,885		465,209		65,661

(b)

Shipping and handling expenses

Sales related shipping and handling expenses not separately billed to customers are included in the following caption:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Selling, general and administrative expenses		208,197		211,971		221,255		31,228

8.2	(a) Other operating income


	31.12.2017		31.12.2018			31.12.2019		31.12.2019
	RMB’000		RMB’000			RMB’000		US$’000
Interest income		105,421		147,244			177,261		25,019
Dividend income from quoted equity securities		2,532		1,992			959		135
Gain on disposal of:
- associate		199		—			—		—
- joint venture (i)		107,976		—			—		—
- property, plant and equipment		11,668		8,835			—		—
- quoted equity securities		—		—			11,528		1,627
- right-of-use assets		—		—			9,237		1,304
- subsidiaries (Note 4)		216,115		—			—		—
Government grants		34,337		32,237			122,371		17,272
Fair value gain on quoted equity securities		12,768		—			1,118		158
Fair value gain on foreign exchange forward contract		—		4,529			—		—
Write-back of trade and other payables		29		—			10		1
Realised foreign exchange gain, net		22,624		5,306			3,604		509
Unrealised foreign exchange gain, net		8,319		(4,235	)		4,679		660
Others		10,129		9,235			16,394		2,314

		532,117		205,143			347,161		48,999

Note:

(i)

On October 19, 2017, the Group completed the disposal of its joint venture investment in Copthorne Qingdao and recognized gain on disposal in the Group’s profit or loss for the year ended December 31, 2017.

8.2	(b) Other operating expenses


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Fair value loss on quoted equity securities		—		3,433		—		—
Fair value loss on foreign exchange forward contract		—		—		5,529		780
Loss on disposal of property, plant and equipment		—		—		645		91
Others		22,719		9,030		2,501		353

		22,719		12,463		8,675		1,224

8.3	Finance costs


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Bank term loans		53,888		71,513		76,721		10,828
Bills discounting		42,179		36,826		47,212		6,664
Bank charges		4,367		4,749		4,945		698
Interest on finance lease		5		—		—		—
Interest on lease liabilities (Note 19)		—		—		2,918		412

		100,439		113,088		131,796		18,602

8.4	Staff costs


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Wages and salaries		1,158,320		1,176,465		1,122,712		158,461
Contribution to defined contribution plans		258,190		296,073		324,623		45,818
Executive bonuses		59,908		57,674		59,791		8,439
Staff welfare		76,392		76,689		82,692		11,671
Staff severance cost		107,732		28,018		15,454		2,181
Cost of share-based payment		1,592		—		—		—
Others		1,870		8,441		6,012		849

		1,664,004		1,643,360		1,611,284		227,419

Staff costs are included in the following captions:


	31.12.2017		31.12.2018		31.12.2019		31.12.2019
	RMB’000		RMB’000		RMB’000		US$’000
Cost of sales		850,580		822,570		808,763		114,150
Research and development expenses		197,991		213,826		243,049		34,304
Selling, general and administrative expenses		615,433		606,964		559,472		78,965

		1,664,004		1,643,360		1,611,284		227,419