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The Differences Between IFRS and PRC GAAP

A reconciliation of differences between the profit and equity of the Group prepared under CASs and those prepared in accordance with IFRSs is set out below.

Six months ended

30 June 2007

Profit for the period attributable to equity holders of the Bank under CASs

40,844

Recognition of revaluation surplus on disposed assets

192

Profit for the period attributable to equity holders of the Bank under IFRSs

41,036

30 June 2007

Equity attributable to equity holders of the Bank under CASs

498,618

Reversal of revaluation surplus

(595)

Equity attributable to equity holders of the Bank under IFRSs

498,023

In the financial statements prepared under the generally accepted accounting principles in the PRC, the Group performed the revaluation on certain assets pursuant to the relevant requirements, with the revaluation surplus recognised in the capital reserve. Under IFRSs, such assets were carried at cost and the revaluation surplus was reversed. Upon disposal of such assets, adjustments on recognition of revaluation surplus were reversed accordingly. In addition, for the available-for-sale equity investments included in these assets, when they meet the specific conditions to be measured at fair value under IFRSs, the adjustments on reversal of revaluation surplus were made to the investment revaluation reserve.


(2007-12-28)