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

foreign exchange forward option contracts was financial liabilities of approximately RMB44 million (2008: RMB116 million).
CHINA SOUTHERN AIRLINES COMPANY LIMITED • ANNUAL REPORT 2009 Notes to the Financial Statements 129
(Prepared in accordance with International Financial Reporting Standards)
(Expressed in Renminbi)
51 Financial risk management and fair values (cont’d)
(c) Foreign currency risk (cont’d)
As at 31 December 2009, it is estimated that if an appreciation/depreciation of 3.4% in exchange rate of US dollar against Japanese Yen, with all other variables held constant, would have increased/decreased the Group’s profit after tax and decreased/increased the Group’s accumulated losses by approximately RMB15 million/RMB16 million, respectively.
The exchange rate of Renminbi to US dollar was set by the PBOC and had fluctuated within a narrow band prior to 21
July 2005. Since then, a managed floating exchange rate regime based on market supply and demand with reference to a basket of foreign currencies has been used and the US dollar exchange rate has gradually declined against the
Renminbi.
The following table indicates the instantaneous change in Group’s profit or loss after tax (and accumulated losses) that would arise if foreign exchange rates to which the Group has significant exposure at the balance sheet date had changed at that date, assuming all other risk variables remained constant.
2009 2008
Appreciation/
(depreciation)
of Renminbi
against
foreign
currency
Decrease/
(increase)
on profit after
tax and
increase/
(decrease) on
accumulated
losses
Appreciation/
(depreciation)
of Renminbi
against
foreign
currency
Increase/
(decrease)
on loss after
tax and accumulated
losses
RMB million RMB million
United States Dollars 2% (764) 2% (606)
(2%) 764 (2%) 606
Results of the analysis as presented in the above table represent an aggregation of the instantaneous effects on each
of the Group entities’ profit or loss after tax and equity measured in the respective functional currencies, translated
into Renminbi at the exchange rate ruling at the balance sheet date for presentation purposes.
The sensitivity analysis assumes that the change in foreign exchange rates had been applied to re-measure those financial instruments held by the Group which expose the Group to foreign currency risk at the balance sheet date, including inter-company payables and receivables within the Group which are denominated in a currency other than the functional currencies of the lender or the borrower. The analysis excludes differences that would result from the translation of the financial statements of foreign operations into the Group’s presentation currency. The analysis is performed on the same basis for 2008.
　
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