曝光臺 注意防騙 網曝天貓店富美金盛家居專營店坑蒙拐騙欺詐消費者

2,482,417,000 H shares of RMB1.00 each (2008: 1,761,267,000 shares of RMB1.00 each) 2,482 1,761
1,500,000,000 A shares of RMB1.00 each (2008: 1,500,000,000 shares of RMB1.00 each) 1,500 1,500
8,003 6,561
A bonus share issue of 1,100,000,000 domestic state-owned shares, 587,089,000 H shares and 500,000,000 A shares,
totalling 2,187,089,000 shares, by the conversion of share premium in the amount of RMB2,187,089,000 to share
capital of the same amount, was approved by shareholders and relevant government authorities and took effect in November 2008.
On 20 August 2009 and 21 August 2009, the Company issued 721,150,000 A shares to CSAHC and 721,150,000 H shares to Nan Lung, a wholly-owned subsidiary of CSAHC, for net cash considerations of RMB2,259 million and RMB721 million, respectively.
The 721,150,000 A shares and 721,150,000 H shares issued on 20 August 2009 and 21 August 2009 are subject to a lock-up period to 20 August 2012 and 21 August 2010, respectively. The remaining 3,300,000,000 domestic state-
owned shares would become listed and tradable in August 2010.
All the domestic state-owned, H and A shares rank pari passu in all material respects.
(b) Capital management
The Group’s primary objectives in managing capital are to safeguard its ability to continue as a going concern, and to generate sufficient profit to maintain growth and provide returns to its shareholders, by securing access to finance at a reasonable cost.
The Group manages the amount of capital in proportion to risk and managing its debt portfolio in conjunction with
projected financing requirements. The Group monitors capital on the basis of the debt to equity ratio, which is calculated
on net debt as a percentage of the total equity where net debt is represented by the aggregate of bank and other loans, short-term financing bills, obligations under finance leases, trade and bills payables, sales in advance of carriage,
amounts due to related companies, accrued expenses and other liabilities less cash and cash equivalents.
There was no change in the Group’s approach to capital management during 2009 as compared with previous years. Neither the Company nor any of its subsidiaries are subject to externally imposed capital requirements. The Group’s debt to equity ratio remains high at 551% at 31 December 2009 (2008: 685%) because of the acquisitions of aircraft during the current and prior years.
CHINA SOUTHERN AIRLINES COMPANY LIMITED • ANNUAL REPORT 2009 Notes to the Financial Statements 113
(Prepared in accordance with International Financial Reporting Standards)
(Expressed in Renminbi)
46 Reserves
The Group The Company
2009 2008 2009 2008
RMB million RMB million RMB million RMB million
Share premium
At 1 January 3,138 5,325 3,138 5,325
Bonus share issue (Note 45) – (2,187) – (2,187)
Issue of shares (Note 45) 1,538 – 1,538 –
　
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