7 ASSOCIATES AND JOINT VENTURES (continued) Joint ventures (continued) GMC Chengdu Changfeng Perennial Mei Rong Jia 4-6 Shenyang Summit Renshoutang PRE 13 PHCH Immaterial joint ventures Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 31 December 2023 Revenue – – – 16,684 140,469 – – (Loss)/Profit after tax (a) (310) (102) – 13,780 (4,897) 8,670 (5,780) OCI – (3,569) (16,311) (22,883) (4,313) (62,509) (3,512) Total comprehensive income (310) (3,671) (16,311) (9,103) (9,210) (53,839) (9,292) Attributable to NCI (61) – – – – (10,563) – Attributable to joint venture’s shareholder (249) (3,671) (16,311) (9,103) (9,210) (43,276) (9,292) (a) Includes: - Depreciation and amortisation – – – – (20,189) – (27) - Interest expense 488 – – – (8,353) (7,834) (2,069) - Tax expense – – – (2,903) (20) (490) (809) Non-current assets 139,820 409,856 6 1,618,486 509,029 445,425 857,033 Current assets (b) 616,130 12,512 1,852,271 309,876 74,908 80 67,927 Non-current liabilities (c) – (45,792) (458,178) (277,283) (170,727) – (222,432) Current liabilities (d) (493,936) (135,943) (273,271) (92,824) (127,464) (9) (292,251) Net assets 262,014 240,633 1,120,828 1,558,255 285,746 445,496 410,277 Attributable to joint venture’s shareholder 262,014 240,633 1,120,828 1,558,255 285,746 445,496 410,277 Carrying amount of interest in joint venture at end of the year 131,007 120,317 560,414 779,128 142,872 89,099 184,625 (b) Includes cash and cash equivalents 3,106 348 743 5,215 29,941 21,834 36,968 (c) Includes non-current financial liabilities (excluding trade and other payables and provisions) – – (458,178) – (92,510) – (194,020) (d) Includes current financial liabilities (excluding trade and other payables and provisions) (489,797) – – – (4,676) – (181,757) Group’s interest in net assets of joint venture at beginning of the year 127,962 122,152 568,570 783,679 147,478 5,858 161,897 5,698 1,923,294 Group’s share of: - (Loss)/Profit after tax (155) (51) – 6,890 (2,449) 1,734 (2,601) 64,207 67,575 - OCI – (1,784) (8,156) (11,441) (2,157) (12,502) (1,580) (1,594) (39,214) Total comprehensive income (155) (1,835) (8,156) (4,551) (4,606) (10,768) (4,181) 62,613 28,361 Additions during the year 3,200 – – – – 94,009 26,909 131,054 255,172 Carrying amount of interest in joint venture at end of the year 131,007 120,317 560,414 779,128 142,872 89,099 184,625 199,365 2,206,827 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 2024 OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 195 ANNUAL REPORT 2024
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