Hong Kong IPO disclosure precedents · 46 companies, 46 items
Impairment of property, plant and equipment, such as production machinery or lines rendered obsolete by declining market demand, with disclosure of impairment charges and recoverable amounts.
Given our prolonged period of overall losses, there are indications of impairment.
Financial Information · p. 218
As of December 31, 2023, 2024 and 2025, we recorded non-financial assets of RMB56.3 million, RMB41.7 million and RMB89.3 million, respectively.
Financial Information · p. 218
According to the impairment test results, the recoverable amount of the CGU was larger than the carrying amount of the non-current assets at the end of each reporting period, thus no impairment was required.
Impairment losses were recognized on an investment property in Massachusetts and its leasehold improvements as a result of deterioration in the local real estate markets.
Financial Information · p. 253
This was primarily due to (i) the decrease in our impairment losses for an investment property and its leasehold improvement from RMB61.9 million in 2023 to RMB1.4 million in 2024, which was in relation to a decline in the market value of our investment property in Massachusetts, reflecting the overall performance of the local real estate market, and (ii) the increase in our lease income from nil in 2023 to RMB7.4 million in 2024 as we sublet such property starting 2024.
Financial Information · p. 257
Investment property and property, plant and equipment are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.
In view of such prolonged period of overall losses, there are indications of impairment.
Financial Information · p. 213
According to the impairment test results, the recoverable amount of the CGU was larger than the carrying amount of the non-current assets at the end of each reporting period, thus no impairment was required.
We recorded impairment loss on non-current assets classified as held for sale of nil, nil and RMB25.4 million in 2023, 2024 and 2025, respectively.
Financial Information · p. 221
As a result, these assets with aggregate carrying amount of RMB50.2 million immediately prior to the classification as held for sale was written down to its fair value less cost to sell of RMB24.8 million and classified as non-current assets classified as held for sale during the year.
Our impairment losses on non-financial assets amounted to RMB828.6 million, RMB80.0 million and RMB227.1 million in 2023, 2024 and 2025, respectively.
Financial Information · p. 202
Our impairment losses on non-financial assets significantly increased from RMB80.0 million in 2024 to RMB227.1 million in 2025, primarily due to an increase in impairment losses on (i) inventories, and (ii) property, plant and equipment mainly relating to equipment used in our end-of-life vehicle recycling business, as a result of a reduction in expected recoverable amounts following our adjustment of operating strategies and gradual reduction in investment in such business.
We recorded impairment losses on property, plant and equipment of RMB12.4 million in 2023 and nil in 2024, primarily due to the updates and iteration of DNA sequencers.
Our impairment losses increased significantly from RMB17.0 million in 2023 to RMB97.7 million in 2024, primarily due to the recoverable amount being lower than the carrying amount of productive biological assets which resulted from a decrease in market prices of cows and raw milk.
Financial Information · p. 202
In 2023, 2024 and 2025, we recorded impairment losses of RMB17.0 million, RMB97.7 million and RMB62.8 million, respectively.
Financial Information · p. 196
Our goodwill remained relatively stable at RMB1,002.8 million, RMB1,002.8 million and RMB992.5 million as of December 31, 2023, 2024 and 2025, respectively.
In 2023, 2024 and 2025, our impairment losses amounted to RMB69.8 million, RMB32.6 million and nil, respectively.
Financial Information · p. 214
Our provision for impairment losses decreased from RMB32.6 million in 2024 to nil in 2025, primarily as impairment losses on major gearbox production equipment had already been provided in prior years and no additional material impairment was recognized in 2025.
Given that we sustained losses throughout the Track Record Period as we were still in the stage of expanding our business and operations in the rapidly growing perceptual-intelligence chips market, and we are continuously investing in research and development, indicating potential impairment of our non-financial assets (including PPE, ROU assets and intangible assets), we diligently carried out impairment testing at the end of each reporting period.
Financial Information · p. 209
Based on the assessment result, value in use is greater than carrying amounts of PPE, ROU and intangible assets, hence, no impairment was recognized.
Financial Information · p. 209
The directors of the Company have considered the reasonably possible changes to the key assumptions as adopted in the impairment assessments and considered will not result in any impairment charge to be recognized.
In 2023, we recorded impairment losses on property, plant and equipment of RMB7.1 million due to the full impairment of trial equipment related to certain R&D initiatives which we determined to suspend.
Financial Information · p. 225
Other than the specific trial equipment mentioned in “impairment Loss Recognized on Property, Plant and Equipment” in this section, we did not identify any indication of impairment for other non-financial assets during the Track Record Period, and no impairment was made for other non-financial assets.
Other income, gains and losses decreased by 45.0% from RMB155.4 million in 2023 to RMB85.6 million in 2024, primarily due to impairment losses of property, plant and equipment of RMB210.5 million in 2024.
Financial Information · p. 230
These impairment losses were primarily caused by (i) the impairment on old charging stations scheduled to be phased out, and (ii) the impairment of the equipment for an energy storage project, whose returns could not meet our expectation because of the changes in local government policies.
Financial Information · p. 230
We recognized write-offs of property, plant and equipment primarily due to the decommissioning of EV charging stations.
The recoverable amounts of the cash-generating unit where Chatang hotel business belongs to are determined using valuation method of income approach of discounted cash flows for value-in-use calculation.
Financial Information · p. 329
According to the Frost & Sullivan Report, it was estimated that the hotel occupancy rate in Fujian Province will reach approximately 68.7% in 2029.
Financial Information · p. 330
Based on our impairment assessment, as the recovering amount is higher than the carrying amount, no impairment was required for the Track Record Period.
We recognized an impairment loss of RMB9.4 million, RMB8.9 million, RMB1.6 million, RMB0.8 million and RMB2.0 million in 2022, 2023, 2024 and for the six months ended June 30, 2024 and 2025, respectively.
Financial Information · p. 333
Our impairment losses of property, plant and equipment decreased by 82.2% from RMB8.9 million in 2023 to RMB1.6 million in 2024, primarily due to the fall in the number of new under-performing self-operated restaurants in 2024.
Considering the changes in the market outlook as detailed in ‘‘Business — Challenges to Our Industry and Our Business — Analysis on Recent Financial Performance,’’ we had identified impairment indication for property, plant and equipment, right of use assets or intangible assets as of December 31, 2024 and determined the recoverable amount of these assets based on value in use calculation.
Financial Information · p. 373
The recoverable amount of these assets was determined to be greater than their carrying amount.
Financial Information · p. 373
Accordingly, we did not make provision for impairment on our property, plant and equipment, right of use assets or intangible assets as of December 31, 2024, based on our value in use calculation, which took into account future growing downstream market demand and our ongoing progress in market expansion and the considerations of adverse factors including (i) the future capital outflow in relation to our expansion plan in purchasing machinery and construction of new production base; (ii) the then low utilization of our production base; and (iii) the cash from our orders based on our framework agreements.
In 2022, 2023 and 2024, our impairment losses amounted to RMB4.0 billion, RMB6.1 billion and RMB9.3 billion, respectively.
Financial Information · p. 261
Our impairment losses increased from RMB4.0 billion in 2022 to RMB6.1 billion in 2023, primarily due to an increase in impairment losses related to our property, plant and equipment and intangible assets, primarily in relation to the upgrades or adjustments made to certain machinery, partially offset by a decrease in impairment losses on inventories.
Financial Information · p. 268
Our intangible assets decreased to RMB5.3 billion as of December 31, 2024, primarily related to the impairment of certain mining rights.
In view of the unfavorable future prospects of certain restaurants, we recognized an impairment loss of RMB4.6 million for the year ended December 31, 2023.
Financial Information · p. 300
Although certain restaurants recorded operating losses for the years ended December 31, 2022 and 2024, the recoverable amount of these restaurants with an indication of impairment exceeds the carrying amount.
As a result of the unexpected accelerated shift in market demand from P-type PERC cells to N-type TOPCon cells during the fourth quarter of 2023, we recognized a one-off impairment loss on property, plant and equipment of RMB894.2 million in 2023 on certain P-type PERC cell production lines and production facilities in our Shangrao Plant.
Financial Information · p. 388
We uses direct comparison approach to estimate the fair value less costs of disposal which is based on the recent transaction and market quoted prices for similar property, plant and equipment adjusted for nature, location and conditions.
Financial Information · p. 389
No further impairment was recognized in 2024 due to our determination on the recoverable amounts of these property, plant and equipment based on their fair value less costs of disposal using a market approach.
Due to changes in business plans, which led to the cessation of substantial production at Nanjing Zenergy in December 2022, and cessation of production activities at Dongguan Zenergy in February 2023, respectively, we have engaged external experts to perform an impairment assessment on the recoverable amounts of their property, plant and equipment.
Financial Information · p. 439
Our assessments showed that the value in use exceeded the carrying amounts for these nonfinancial assets, and thus, no impairment was recognized during the Track Record Periods.
We recorded impairment of property, plant and equipment in the amount of RMB14.8 million in 2021 and nil in 2022, respectively. In 2021, the new production facility in our Henan production base commenced operations. Consequently, we recorded a provision for impairment loss on legacy production facility and equipment that were phased out.
Financial Information · p. 336
This impairment resulted from the optimization of our production lines and equipment as we strategically decided to suspend the production of RTD drinks.
Given that our business operations at the Shunyi Testing Site had been adversely affected by the COVID-19 situation during FY2022 and there was a gross loss of our closed-course site tests and related services for FY2022, we had performed impairment tests to estimate the recoverable amount of our right-of-use assets in relation to the Shunyi Testing Site by using discounted cash flow model.