Page 124 - China Mobile Limited - Annual Report 2012

China Mobile Limited
Annual Report 2012
118
Notes to the Financial Statements
(Expressed in Renminbi unless otherwise indicated)
20 Interest in Jointly Controlled Entity (Continued)
Details of the Group’s interest in the jointly controlled entity are as follows:
Name of jointly controlled entity
Place of
incorporation
and operation
Proportion of
ownership
interest held by
the Group and
the Company Principal activity
CSVV B.V. (formerly “JIL B.V.”) The Netherlands 25% Research and develop
telecommunication technologies
and application services
CSVV B.V. was formed by the Company and two other shareholders in 2008, and commenced its operation in 2009.
During 2009, a new investor became the fourth shareholder and the proportion of ownership interests held by the
Group and the Company decreased from 33.33% to 25%. At the end of 2011, each of the four shareholders, including
the Company, has contributed US$5,000,000 (equivalent to RMB34,000,000) to CSVV B.V. in accordance with the
shareholders agreement.
CSVV B.V. is considered a jointly controlled entity since the Company and other shareholders have the right to appoint
an equal number of directors to the board of directors. The Company and the other shareholders share joint control
over the major economic activities of CSVV B.V.
As at and for the year ended 31 December 2012, the Group’s share of the CSVV B.V.’s current assets, non-current
assets, current liabilities, net assets and loss for the year of CSVV B.V. are RMB6,000,000 (2011: RMB7,000,000),
RMB nil (2011: RMB1,000,000), RMB nil (2011: RMB1,000,000), RMB6,000,000 (2011: RMB7,000,000) and
RMB1,000,000 (2011: RMB1,000,000), respectively.