7 ASSOCIATES AND JOINT VENTURES (continued) GMC Chengdu Changfeng Perennial Mei Rong Jia 4-6 Shenyang Summit Renshoutang PHCH Immaterial joint ventures Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 31 December 2022 Revenue – – – 24,495 140,469 – (Loss)/Profit after tax(a) (1,181) (227) (16) 21,668 (6,199) 11,610 OCI – (24,699) (112,855) (157,692) (30,017) (46,421) Total comprehensive income (1,181) (24,926) (112,871) (136,024) (36,216) (34,811) Attributable to NCI – – – – – – Attributable to joint venture’s shareholder (1,181) (24,926) (112,871) (136,024) (36,216) (34,811) (a) Includes: – Depreciation and amortisation – – – (147) (23,219) (24) – Interest expense (1,116) – – – (10,612) (6338) – Tax (expense)/credit – – – (2,827) 16 – Non-current assets – 415,936 6 1,639,973 424,471 682,640 Current assets(b) 746,570 12,556 1,800,288 291,338 60,296 58,785 Non-current liabilities(c) – (46,470) (478,338) (281,394) (116,747) (226,410) Current liabilities(d) (490,646) (137,718) (184,817) (82,560) (73,063) (155,245) Net assets 255,924 244,304 1,137,139 1,567,357 294,957 359,770 Attributable to joint venture’s shareholder 255,924 244,304 1,137,139 1,567,357 294,957 359,770 Carrying amount of interest in joint venture at end of the year 127,962 122,152 568,570 783,679 147,478 161,897 (b) Includes cash and cash equivalents 9,680 164 1,175 2,821 16,744 27,391 (c) Includes non-current financial liabilities (excluding trade and other payables and provisions) – – (478,338) – (109,380) (198,493) (d) Includes current financial liabilities (excluding trade and other payables and provisions) (489,507) – – – (527) – Group’s interest in net assets of joint venture at beginning of the year – 134,615 625,005 851,690 165,586 177,562 8,992 1,963,450 Group’s share of: – (Loss)/Profit after tax (590) (113) (8) 10,834 (3,099) 5,224 17,388 29,636 – OCI – (12,350) (56,427) (78,845) (15,009) (20,889) (11,300) (194,820) Total comprehensive income (590) (12,463) (56,435) (68,011) (18,108) (15,665) 6,088 (165,184) Additions during the year 128,552 – – – – – 7,226 135,778 Carrying amount of interest in joint venture transferred from associate – – – – – – 6,550 6,550 Capital distribution received during the year – – – – – – (15,450) (15,450) Dividend received during the year – – – – – – (1,850) (1,850) Carrying amount of interest in joint venture at end of the year 127,962 122,152 568,570 783,679 147,478 161,897 11,556 1,923,294 The shares held in a joint venture was pledged as security for loans and borrowings (see note 12). Notes to the Financial Statements Year ended 31 December 2023 184 PERENNIAL HOLDINGS PRIVATE LIMITED
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