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Inventories, net | 12 Months Ended
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Dec. 31, 2017
Inventories, net |
| 2017 | 2016
| US$’000 | US$’000
Raw materials | 132 | 115
Work in progress | 48 | 29
Finished goods | 748 | 554
| 928 | 698
Provision for obsolete and slow moving inventories | (432) | (354)
| 496 | 344
Movements in the provision for obsolete and slow moving inventories are as follows:
| 2017 | 2016
| US$’000 | US$’000
At January 1 | 354 | 318
Provision during the year | 68 | 43
Exchange differences | 10 | (7)
At December 31 | 432 | 354
Management continuously reviews obsolete and slow moving inventories and assesses the inventory valuation to determine if the provision is deemed appropriate. For the years ended December 31, 2017, and 2016 provision for obsolete and slow moving inventories amounted to US$68,000 and US$43,000, respectively, which were charged to cost of revenue in consolidated statements of operations and comprehensive income / (loss).
ZHEJIANG TIANLAN |
Inventories, net |
| 2017 | 2016
| RMB’000 | RMB’000
Raw materials | 4,741 | 5,606
Work in progress | 6,452 | 7,269
Finished goods | 3,924 | 230
| 15,117 | 13,105
ZHEJIANG JIAHUAN |
Inventories, net |
| 2017 | 2016
| RMB’000 | RMB’000
Raw materials | 1,764 | 6,529
Work in progress | 11,316 | 11,264
Finished goods | 1,977 | 10,212
| 15,057 | 28,005

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI http://asc.fasb.org/topic&trid=2126998 + Details
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