Annual Reports  >  2013  > Financial Information > Parent Company ...> NOTES TO PARENT COMPANY ONLY FINANCIAL STATEMENTS
Parent Company Only Financial Statements for the Years Ended December 31, 2013 and 2012
and Independent Auditors’ Report
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NOTES TO PARENT COMPANY ONLY FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2013 AND 2012

34.

RELATED PARTY TRANSACTIONS

The transactions between the Company and its related parties, other than those disclosed in other notes, are summarized as follows:

a.

Net revenue

b.

Purchases

c.

Receivables from related parties

d.

Payables to related parties

e.

Acquisition of property, plant and equipment and intangible assets

f.

Disposal of property, plant and equipment

g.

Others

The sales prices and payment terms to related parties were not significantly different from those of sales to third parties. For other related party transactions, price and terms were determined in accordance with mutual agreements.

The Company leased machinery and equipment from Xintec. The lease terms and prices were determined in accordance with mutual agreements. The rental expense was paid quarterly and the related expense was classified under manufacturing expenses.

The Company deferred the disposal gain/loss derived from sales of property, plant and equipment to related parties using equity method, and then recognized such gain/loss over the depreciable lives of the disposed assets.

h.

Compensation of key management personnel

The compensation to directors and other key management personnel were as follows:

The compensation to directors and other key management personnel were determined by the Compensation Committee of the Company in accordance with the individual performance and the market trends.