海南钧达新能源科技股份有限公司Hainan Drinda New Energy Technology Co., Ltd.02865.HK
收购捷泰科技商誉8.548亿元及减值测试
Our goodwill arose from our acquisition of Jietai Technology in 2021.
Financial Information · 第 410 页
As of December 31, 2022, 2023 and 2024, the recoverable amount of Current Business CGU exceeds its carrying amount by RMB682,504,000, RMB2,248,861,000 and RMB1,300,648,000, respectively.
Financial Information · 第 390 页
We incorporate the P-N transition's effects into our impairment testing models to ensure the goodwill assigned to Jietai Technology accurately reflects the anticipated shifts in technology and market dynamics.
The decrease was primarily because (i) we suspended the development of a drug candidate and accordingly recorded a full allowance for the impairment of the in-licensed antibody used in its development, and (ii) certain amounts were recognized as cost of revenue in accordance with our out-licensing arrangements.
Financial Information · 第 456 页
The impairment test was performed for each pipeline product by engaging an independent appraiser to estimate fair value less cost to sell as the recoverable amount of each pipeline product.
Financial Information · 第 457 页
Based on the result of the assessment, there was no impairment for the in-licenses and in-progress research and development as of December 31, 2023.
江苏正力新能电池技术股份有限公司Jiangsu Zenergy Battery Technologies Group Co., Ltd.03677.HK
南京及东莞基地厂房设备减值2.516亿元
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 · 第 439 页
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.
As of December 31, 2021, 2022 and 2023 and September 30, 2024, our book value of goodwill remained stable at RMB42.0 million, RMB42.0 million, RMB42.0 million and RMB42.0 million, respectively, which was contributed by our acquisition of Guangyuan Technology in 2015.
Financial Information · 第 529 页
Based on the impairment assessments, there was no impairment of goodwill as of December 31, 2021, 2022 and 2023 and September 30, 2024.
Financial Information · 第 529 页
As of December 31, 2021, 2022 and 2023 and September 30, 2024, when the aforementioned key assumption parameters were applied in the impairment testing, the headroom (i.e., the excess of the recoverable amount over the carrying amount of the CGU) was RMB82 million, RMB88 million, RMB17 million, and RMB19 million, respectively.
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 · 第 336 页
This impairment resulted from the optimization of our production lines and equipment as we strategically decided to suspend the production of RTD drinks.
安徽海螺材料科技股份有限公司Anhui Conch Material Technology Co., Ltd.02560.HK
收购产生商誉2,870万元并进行减值测试
Goodwill was arisen from our acquisition of Xiangyang Conch, Meishan Conch, Linyi Conch and Guizhou Conch in 2018. As at 31 December 2021, 2022 and 2023 and 30 June 2024, we recorded goodwill of RMB28.7 million.
Financial Information · 第 442 页
The recoverable amounts of the respective CGUs are determined based on the value-in-use (“VIU”) calculation.
Financial Information · 第 442 页
Management of our Group has undertaken sensitivity analysis on the impairment test of goodwill.
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.
For the purposes of the impairment review, the recoverable amount of our internally generated intangible assets which are not yet ready for use is determined based on value-in-use (“VIU”) calculated by discounted cash flow model.
Financial Information · 第 450 页
As at 31 December 2022 and 2023, the estimated recoverable amount based on the VIU calculation were approximately RMB9.7 million and RMB23.4 million, respectively, which are higher than the carrying amount of our internally generated intangible assets which are not yet ready for use.
Financial Information · 第 451 页
As at 31 December 2023, had there been a decrease in the cash flow forecast by 5%, or an increase in the pre-tax discount rate by 5 percentage points each in isolation, the headroom would be have been decreased to approximately RMB10.9 million and RMB11.2 million, respectively.
Pre-tax discount rates of 16.4%,14.7%, 14.6% and 14.6% were used to reflect market assessment of time value and the specific risks relating to the CGU for the impairment review as at December 31, 2021, 2022 and 2023 and June 30, 2024, respectively.
Financial Information · 第 395 页
During the year ended December 31, 2021, 2022 and 2023 and the six months ended June 30, 2024, our management determines that there is no impairment on the CGU.
Financial Information · 第 396 页
During the years ended December 31, 2021, 2022, 2023 and the six months ended June 30, 2024 the carrying amounts of other intangible assets were RMB205.5 million, RMB166.0 million, RMB158.3 million and RMB156.5 million respectively.
As of December 31, 2021, 2022 and 2023 and June 30, 2024, the amounts of headroom calculated based on the recoverable amounts deducting the carrying amount of ChokSend Communication CGU are RMB7.3 million, RMB7.2 million, RMB5.6 million and RMB4.0 million respectively.
Financial Information · 第 475 页
As of December 31, 2023 and June 30, 2024, the amounts of headroom calculated based on the recoverable amounts deducting the carrying amount of Jianmingtang CGU are RMB2.0 million and RMB1.7 million.
Our Directors are of the view that, except for the pre-tax discount rates of Jianmingtang CGU as of December 31, 2023, a reasonably possible change in a key parameter will not cause the carrying amount of the CGUs to exceed their respective recoverable amounts as of December 31, 2021, 2022 and 2023 and June 30, 2024.
Given our prolonged period of overall losses, there are indications of impairment.
Financial Information · 第 299 页
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.
Based on the result of the goodwill impairment tests, the estimated recoverable amount of Shenzhen Enjoy was RMB219.2 million, RMB213.3 million and RMB207.1 million as of December 31, 2021, 2022 and 2023, exceeding carrying amount by RMB20.9 million, RMB19.2 million and RMB18.7 million, respectively.
Financial Information · 第 390 页
Had the discount rate during the forecast period been 1% higher, the remaining headroom would have decreased to RMB4.0 million, RMB6.4 million and RMB0.2 million as of December 31, 2021, 2022 and 2023, respectively.
Financial Information · 第 390 页
Reasonably possible changes in key assumptions would not lead to impairment as of December 31, 2021, 2022 and 2023.
Our intangible assets mainly represented software, patents and license, trademark, and deferred development costs. We performed annual impairment testing during the Track Record Period for deferred development costs which were not yet available for use.
Financial Information · 第 526 页
We performed the sensitivity analysis based on the assumption that annual revenue growth rates, pre-tax discount rates and royalty rates have been changed.
Financial Information · 第 529 页
We believe that no reasonably possible change in the key assumptions mentioned above would cause the carrying amounts of the CGU to exceed their recoverable amounts as of December 31, 2021, 2022 and 2023 and as of June 30, 2024. We believe that there was no impairment of the CGU as of December 31, 2021, 2022 and 2023 and as of June 30, 2024.
Our carrying amount of goodwill is allocated to several groups of CGUs, including, among others, Kerry Logistics CGU, acquired by our Group in September 2021, and Fenghao Supply Chain CGU, acquired by our Group in February 2019.
Financial Information · 第 370 页
The recoverable amount of Kerry Logistics CGU was estimated to exceed its carrying amount as of December 31, 2022 and 2023 and June 30, 2024 by RMB4,279 million, RMB1,375 million and RMB456 million, respectively.
Financial Information · 第 371 页
The recoverable amount of Fenghao Supply Chain CGU was estimated to exceed its carrying amount as of December 31, 2021, 2022 and 2023 and June 30, 2024 by RMB300 million, RMB267 million, RMB411 million and RMB1,293 million, respectively.
The headroom measured by the excess of the recoverable amount over the carrying amount of Lynway Vision manufacturing and sales CGU was RMB80,116,000, RMB124,642,000, RMB117,663,000 and RMB109,166,000 as of December 31, 2021, 2022, 2023 and May 31, 2024, respectively.
Financial Information · 第 372 页
The fluctuation of the compound growth rate of revenue during the Relevant Periods is mainly attributed to the fact that Lynway Vision was in its initial stage in 2021 and before.
Financial Information · 第 372 页
Considering that there was sufficient headroom based on the assessment, the directors of the Company believe that any reasonably possible change in any of the key assumptions would not cause the carrying amount of the CGU to exceed its recoverable amount.
For the years ended December 31, 2022 and 2023 and for the six months ended June 30, 2024, we recognized provision for impairment loss of goodwill of RMB28.9 million, RMB72.8 million and RMB25.2 million, respectively, as the respective recoverable amounts of certain subsidiaries acquired during the Track Record Period were estimated to be lower than their respective carrying amounts.
Financial Information · 第 433 页
The recoverable amounts of the CGUs are determined based on value-in-use calculations based on cash flow forecasts derived from the most recent financial budgets and estimated future cash flows covering a 5-year period and with the beyond budgeted period using zero growth rate approved by our Directors.
Financial Information · 第 434 页
Our Directors believe that any reasonably possible changes in the key assumptions on which recoverable amount is based would not caused the carrying amount of CGU to exceed its recoverable amount.
Given that we sustained losses throughout the Track Record Period as we were still at the stage of expanding our business and operations in the rapidly growing audiovisual PaaS market, and are continuously investing in research and development, indicating potential impairment of our non-financial assets (including property, plant and equipment, right-of-use assets and intangible assets), we carried out impairment testing at the end of each reporting period.
Financial Information · 第 385 页
In addition, we engaged an independent external valuer to assess the recoverable amount of the CGU and leveraged our experiences in the audiovisual PaaS industry and provided forecast based on past performance and their expectation of future business plans and market developments.
Financial Information · 第 385 页
Based on the assessment result, value in use is greater than carrying amounts of property, plant and equipment, right-of-use assets and intangible assets, hence, no impairment was recognized.
浙江太美医疗科技股份有限公司Zhejiang Taimei Medical Technology Co., Ltd.02576.HK
商誉累计减值1.14亿元及减值敏感度
Our net book value of goodwill decreased from RMB77.6 million as of December 31, 2021 to RMB55.2 million as of December 31, 2022, and further decreased to RMB46.8 million as of December 31, 2023 as we incurred impairment losses.
Financial Information · 第 404 页
Affected by the macroeconomic condition, the estimated recoverable amount of the CGU of Taimei Xinghuan was below its carrying amount and therefore provision for impairment of RMB54.1 million and RMB9.3 million was recorded for the years ended December 31, 2021 and 2022, respectively.
Financial Information · 第 405 页
Affected by the macroeconomic condition, the estimated recoverable amount of the CGU of Beijing Nuoming were below its carrying amount and therefore provision for impairment of RMB13.1 million was recorded for the year ended December 31, 2022.
The carrying amount of goodwill and trademark rights with an indefinite useful life are allocated to groups of cash-generating units, or CGUs, including (i) KUKA Group, (ii) the TLSC group, which mainly represents Toshiba Lifestyle and its subsidiaries, (iii) Little Swan and (iv) others.
Financial Information · 第 283 页
Impairment reviews on our goodwill and trademark rights with an indefinite useful life have been conducted by our management as at 31 December 2021, 2022 and 2023 and 30 April 2024.
Financial Information · 第 284 页
We have considered and assessed reasonably possible changes for the key assumptions and have not identified any instances that would cause the carrying amounts of the above CGUs to exceed their recoverable amounts as at 31 December 2021, 2022 and 2023 and 30 April 2024, respectively.
上海声通信息科技股份有限公司Shanghai Voicecomm Information Technology Co., Ltd.02495.HK
商誉3,920万元及年度减值测试
Our goodwill increased from RMB17.1 million as of December 31, 2021 to RMB39.2 million as of December 31, 2022 and December 31, 2023, as a result of our acquisition of Jinxun Digital Intelligence in 2022.
Financial Information · 第 438 页
Goodwill arising from the acquisitions of Yuanya Information and Jinxun Digital Intelligence was monitored separately and assessed as separate CGUs for the purpose of impairment testing.
Financial Information · 第 438 页
Our Directors determined that no impairment on goodwill was required as of December 31, 2021, 2022 and 2023 with reference to the recoverable amounts.