Based on the result of impairment testing for such businesses, impairment provision of goodwill of RMB147.6 million and RMB10.8 million was recognized for the freshly brewed beverage vending machine business and karaoke booth service business, respectively, in 2020.
Financial Information · 第 471 页
We have engaged an independent external valuer for performing the goodwill impairment assessments as of December 31, 2019, 2020, 2021, 2022 and June 30, 2023.
Financial Information · 第 402 页
During the year ended December 31, 2020, goodwill impairment arose in the Group’s karaoke booth service business because people were afraid to sing in a confined space after the outbreak of COVID-19.
We recognized goodwill of nil, nil, RMB138.0 million and RMB138.0 million as of December 31, 2020, 2021 and 2022 and April 30, 2023, respectively.
Financial Information · 第 312 页
The VIU is determined by applying discounted cash flow model on pre-tax cash flow projections based on a five-year financial budget approved by the management.
Financial Information · 第 312 页
In the opinion of our Directors, any reasonably possible change in the key assumptions on which the recoverable amount is based would not cause the carrying amount of the Luyi Chengming’s CGU to exceed its recoverable amount.
Our intangible assets decreased from US$1,129.2 million as of December 31, 2021 to US$963.6 million as of December 31, 2022, primarily due to (i) an one-off impairment of goodwill in 2022, and (ii) fluctuations in foreign currency exchange rates.
Financial Information · 第 382 页
For the groups of CGUs in China, according to management’s impairment test performed with the assistance of an independent valuer, the carrying amount exceeded relevant recoverable amount. As a result, impairment charges of goodwill amounting to approximately US$117,502,000 were recognised.
Financial Information · 第 385 页
As of June 30, 2023, it is unlikely that any reasonable possible changes in key assumptions would lead to impairment for our goodwill.
Our goodwill decreased significantly from RMB297.9 million as of December 31, 2020 to RMB14.4 million as of December 31, 2021, primarily due to the deconsolidation of Mengtian Dairy in 2021.
Financial Information · 第 425 页
That calculation uses cash flow projections based on the financial budgets approved by Mengtian Dairy's management covering a 5-year period, and pre-tax discount rate of 14.18% as of December 31, 2020.
Financial Information · 第 426 页
As of December 31, 2020 and 2021, our management determined that there was no impairment for the Yoplait China cash-generating unit, and the recoverable amount exceeds the carrying amount by RMB91.8 million and RMB39.5 million, respectively.
We did not record goodwill in 2020 and recorded a goodwill of RMB42.5 million as of December 31, 2021, due to the acquisitions of (i) a 100% interest in Guangzhou Chichi in September 2021; (ii) a 51% interest in Hainan Zhangwan in March 2021; and (iii) a 51% interest in Guangzhou Bajiuyou in June 2021.
Financial Information · 第 446 页
The recoverable amounts of the cash-generating unit has been determined based on a value-in-use calculation using cash flow projections based on financial budgets covering a five-year period approved by management.
The goodwill balance mainly arose from the acquisitions of Guangzhou Jianxin on March 31, 2021, Ideal Technology on June 30, 2021 and EpicHust on June 30, 2022, amounting to RMB94.1 million, RMB165.6 million and RMB76.1 million, respectively.
Financial Information · 第 313 页
The estimated recoverable amount of the CGU of Guangzhou Jianxin exceeded its carrying amount by approximately RMB34,180,000, RMB89,429,000 and RMB126,465,000 as of December 31, 2021 and 2022 and March 31, 2023, respectively, and management therefore concluded such goodwill was not impaired.
Financial Information · 第 314 页
The estimated recoverable amount of the CGU of EpicHust exceeded its carrying amount by approximately RMB3,980,000 and RMB7,670,000 as at December 31, 2022 and March 31, 2023, respectively, and management therefore concluded such goodwill was not impaired.
On 31 December 2020, our subsidiary, Shanghai Yangman Consulting Co., Ltd. acquired 64.61% equity interests in Xi'an Jushuohua Automobile Technology Co. Ltd. ("Xi'an Jushuohua") from a third party.
Financial Information · 第 385 页
The recoverable amounts of the CGU have been determined based on a value in use calculation using cash flow projections from financial budgets approved by senior management covering a 5-year period.
Financial Information · 第 385 页
We perform the sensitivity analysis based on the assumption that revenue amount or terminal value or the discount rate has been changed.
In December 2022, we entered into an agreement pursuant to which we planned to sell certain containers to an independent third-party buyer before December 2023.
Financial Information · 第 366 页
We recorded impairment losses on asset held for sale of RMB36.5 million in 2022 from writing down the carrying values of the underlying containers to their fair values less expected costs to sell.
Financial Information · 第 366 页
The decrease was primarily due to (i) an increase in administrative expenses in 2022, mainly as a result of the listing expenses incurred, and (ii) the impairment losses on assets held for sale recorded in 2022 relating to our containers to be disposed of.
The carrying amount of goodwill allocated to Shanghai Sijin cash-generating unit remained stable at RMB8.6 million as of December 31, 2020, 2021 and 2022 and April 30, 2023.
Financial Information · 第 391 页
Our management believes that any reasonably possible change in the key assumptions of the value-in-use calculation would not cause the carrying amount to exceed recoverable amount of the Shanghai Sijin cash-generating unit.
Financial Information · 第 391 页
Our Directors were of the opinion that there was no impairment provision as of April 30, 2023.
As at 31 December 2020, 2021 and 2022, our intangible assets included (i) goodwill in relation to Taiyuan Renewable Energy; (ii) operating concessions; and (iii) software, amounting to RMB3,169.9 million, RMB3,190.7 million and RMB3,341.0 million, respectively.
Financial Information · 第 515 页
For the year ended 31 December 2022, an impairment loss of approximately RMB9.4 million was recognised, primarily attributable to the decrease in the expected net profit margin of Shuozhou Renewable Energy for the remaining service concession periods of the Shuozhou Project according to the most recent financial forecasts prepared by our management.
Financial Information · 第 518 页
Based on the result of the goodwill impairment test performed by our Directors, the estimated recoverable amount exceeded the carrying amount by approximately RMB130.7 million, RMB142.5 million and RMB149.3 million as at 31 December 2020, 2021 and 2022, respectively.
Goodwill of RMB14,348,000 and RMB11,343,000 was generated from the acquisition of Shangrao Adicon and Jiangxi Jince on February 28, 2021 and goodwill of RMB54,111,000 was generated from the acquisition of Henan Adicon on May 31, 2022.
Financial Information · 第 270 页
Based on the result of impairment assessment, there was no impairment as of December 31, 2022.
Financial Information · 第 271 页
Our management has performed sensitivity test by decreasing 1% of expected revenue, decreasing 1% of terminal growth rate or increasing 1% of pre-tax discount rate, with all other assumptions held constant.
Intangible assets consist of (i) our in-licensed rights in relation to LAE001, LAE002, LAE003 and LAE005, and (ii) the clinical data analysis software we purchased in 2021 and the molecular operating environment software and a series of software for clinical development we purchased in 2022.
Financial Information · 第 402 页
We tested intangible assets not yet ready for commercial use annually, based on the recoverable amount of the cash-generating unit (“CGU”) to which the intangible asset is related.
Financial Information · 第 402 页
Based on the result of the above assessment, there were no impairment for the intangible assets as of December 31, 2021 and 2022.
Given the continuous losses incurred in our business operations during the Track Record Period, we concluded that there was an indication for impairment and therefore performed impairment assessment on our property, plant and equipment, right-of-use assets and intangibles assets.
Financial Information · 第 266 页
The recoverable amount of cash-generating unit has been determined based on a value in use calculation. That calculation uses cash flow projections based on financial budgets approved by our management covering the next five years with pre-tax discount rates of 16%, 16% and 16% as of 31 December 2020, 2021 and 2022, respectively.
Financial Information · 第 266 页
Based on the result of the assessment, we determined that the recoverable amounts of all cashgenerating units are higher than the corresponding carrying amounts as of 31 December 2020, 2021 and 2022. Therefore, no impairment loss was recognised in 2020, 2021 and 2022.
Our loss on written-off of rental computer devices was RMB12.6 million, RMB6.8 million and RMB22.8 million, for the years ended December 31, 2020, 2021 and 2022, respectively, representing 1.0%, 0.4% and 1.6% of the total carrying amount of our self-owned rental computer devices as of December 31, 2020, 2021, and 2022, respectively.
Financial Information · 第 271 页
For example, we recorded an increased loss on written-off of rental computer devices in 2022 primarily because certain of our customers had operational difficulties with an increased amount of incidents such as lay-offs and closure, leading to an increase in the number of incidents of damage or loss of our devices during the same time.
Business · 第 227 页
In order to mitigate the risk, we have adopted strict asset management policies to monitor and control our devices throughout their life cycle, including conducting company search, litigation search and credit search against new customers, as well as on-site visits to verify customers' status and IT needs.
Our intangible assets amounted to RMB1.3 billion, RMB1.3 billion and RMB1.2 billion as of December 31, 2020, 2021 and 2022.
Summary · 第 15 页
When the foregoing key assumptions are applied in the impairment testing, as of December 31, 2020, 2021 and 2022, the headroom, which is the excess of the recoverable amount of a CGU over the carrying amount of that CGU, of our Group’s CGUs containing goodwill for the periods presented are RMB1,603.9 million, RMB3,385.9 million and RMB4,033.9 million, respectively.
Financial Information · 第 367 页
Based on the results of the impairment assessment, our Directors concluded that no impairment on goodwill has to be recognized as of the respective balance sheet dates.