We recorded goodwill of RMB2,250.4 million in 2023 due to the Super Ming Acquisition.
Financial Information · 第 293 页
Goodwill and intangible asset with indefinite useful life acquired through business combination are allocated to the cash-generating unit ("CGU") of Super Ming Group for impairment testing.
Financial Information · 第 293 页
The recoverable amount of the CGU is determined based on value in use of the CGU to which the goodwill and intangible asset with indefinite useful life is allocated.
We recorded an impairment loss on goodwill of RMB241.5 million in 2022 and RMB373.4 million in 2023, because Silead would not meet the original expected business results attributable to the delay in the commercial production of certain customers’ products based on assessments.
Financial Information · 第 262 页
Our management considered that attributable to the delay in the commercial production of certain customers’ products which resulted in the SiLead CGU not meeting the original expected business results, and based on the above assessments, concluded that impairment losses of RMB241,491,000 and RMB373,372,000 were required at December 31, 2022 and 2023, respectively, and such losses were recognised in the consolidated statements of profit or loss for the years ended December 31, 2022 and 2023, respectively.
Financial Information · 第 289 页
We perform annual impairment tests on goodwill at the end of the reporting year.
Our goodwill decreased from RMB3.9 billion as of December 31, 2023 to RMB3.6 billion as of December 31, 2024, primarily due to the impairment losses of RMB237.5 million we recorded for our display solutions as the recovery of the display ICs market fell short of our expectation.
Financial Information · 第 332 页
Impairment reviews on the goodwill has been conducted by us as of December 31, 2022, 2023 and 2024 according to IAS 36 “impairment of assets”.
Financial Information · 第 333 页
In addition, as of December 31, 2024, an impairment loss of RMB237.5 million was recognized, as the carrying amount exceeded its recoverable amount.
苏州瑞博生物技术股份有限公司Suzhou Ribo Life Science Co., Ltd.06938.HK
专利及专有技术无形资产的减值测试
During the Track Record Period, our intangible assets primarily consisted of (i) patents and know-how, primarily in relation to pipeline programs we acquired through asset acquisition and subsequently recorded as intangible assets, and (ii) software.
Financial Information · 第 444 页
Our intangible assets decreased from RMB108.4 million as of December 31, 2023 to RMB92.5 million as of December 31, 2024, and further decreased to RMB84.6 million as of June 30, 2025, primarily due to amortization.
Financial Information · 第 444 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.
北京智谱华章科技股份有限公司Knowledge Atlas Technology Joint Stock Company Limited02513.HK
收购北京灵心智能商誉及减值测试
During the Track Record Period, goodwill arose from our acquisition of Beijing Lingxin Intelligent in 2023. It amounted to nil, RMB39.4 million, RMB39.4 million and RMB39.4 million as of December 31, 2022, 2023 and 2024, and June 30, 2025, respectively.
Financial Information · 第 270 页
The headroom of CGU of Beijing Lingxin Intelligent as of December 31, 2023 and 2024 and June 30, 2025 amounted to RMB16.0 million, RMB23.0 million and RMB18.0 million, respectively.
Financial Information · 第 271 页
As a result of the impairment tests, we believe that there was no impairment of goodwill as of December 31, 2023 and 2024 and June 30, 2025.
Given we were loss-making throughout the Track Record Period, which is an impairment indicator in the impairment tests for nonfinancial assets, including investment property, property, plant and equipment, right-of-use assets and intangible assets have been conducted by management of our Company with the assistance of an independent valuer as of December 31, 2022, 2023 and 2024 and June 30, 2025.
Financial Information · 第 359 页
Management estimate that our Company will not be able to apply successfully for the export license for such assets, and accordingly a full loss on the related assets were made in the year ended December 31, 2023.
Financial Information · 第 359 页
We negotiated with the licensor about the license fee in 2023 and an impairment provision of RMB40,301,000 was provided based on the residual value, which was determined according to the refundable license fee agreed in the amended license contract.
The carrying amount of goodwill as of December 31, 2022, 2023, 2024 and June 30, 2025 was RMB388.5 million, RMB388.5 million, RMB388.5 million and RMB388.5 million, respectively.
Financial Information · 第 290 页
The key assumptions adopted in the value-in-use calculations included a nil revenue growth rate beyond the five-year period for both CGUs at all relevant dates, reflecting the pressures of the domestic and international economic environment and the prudence taken in estimating terminal cash flows.
Financial Information · 第 318 页
The sensitivity analysis indicated that no reasonably possible change in the key assumptions on which the recoverable amounts were based would cause the carrying amount of either CGU to exceed its recoverable amount.
Given our prolonged period of overall losses, there are indications of impairment.
Financial Information · 第 389 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.
Financial Information · 第 389 页
Given the absence of any indicators of potential asset impairment as of June 30, 2025, and considering that the 2024 year-end impairment test confirmed the asset carrying values were below their recoverable amounts, we are not required to perform additional impairment tests on these assets as of June 30, 2025.
Licenses will not be amortized until their useful life is determined to be finite.
Financial Information · 第 272 页
The recoverable amount of the unit has been determined based on a value in use calculation, which uses cash flow projections based on financial budgets approved by management covering a 5year period.
Financial Information · 第 272 页
During the year ended December 31, 2022, 2023 and 2024, and the six months ended June 30, 2025, management of our Group determines that there is no impairment on the respective unit, and management believes that any reasonably possible change in any of the assumptions would not result in impairment.
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 · 第 329 页
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 · 第 330 页
Based on our impairment assessment, as the recovering amount is higher than the carrying amount, no impairment was required for the Track Record Period.
Our goodwill remained stable at RMB417.8 million as of December 31, 2022, 2023 and 2024 and June 30, 2025.
Financial Information · 第 339 页
Our Directors determined impairment of goodwill directly related to ICMALL amounting to RMB254.3 million in 2022.
Financial Information · 第 340 页
Based on the goodwill impairment test, the headroom for the cash-generating unit amounted to RMB27,731 million, RMB38,007 million and RMB38,330 million, which are significantly higher than its respective carrying amount as of December 31, 2022, 2023 and 2024.
We recorded goodwill of RMB504.1 million as of December 31, 2024 and June 30, 2025.
Financial Information · 第 299 页
As of June 30, 2025, the recoverable amount of the MagnTek CGU exceeded its carrying amount by RMB220.9 million, and no impairment was recognized.
Financial Information · 第 299 页
With regard to the assessment of the VIU of the CGUs, our Directors believe that any reasonably possible change in any of the above key assumptions would not cause the carrying value, including goodwill, of the CGUs to exceed the recoverable amounts.
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 · 第 333 页
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 · 第 373 页
The recoverable amount of these assets was determined to be greater than their carrying amount.
Financial Information · 第 373 页
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.
中伟新材料股份有限公司CNGR Advanced Material Co., Ltd.02579.HK
商誉14.2亿元及减值测试
As of December 31, 2022, 2023 and 2024 and June 30, 2025, we recorded goodwill of RMB1,325.8 million, RMB1,348.3 million, RMB1,424.8 million and RMB1,418.9 million, respectively.
The headroom measured by the excess of the recoverable amount over the carrying amount of the industrial products cash-generating unit was RMB355,728,000, RMB122,414,000, RMB75,421,000 and RMB50,037,000 as at December 31, 2022, 2023 and 2024 and June 30, 2025, respectively.
As at December 31, 2022, 2023 and 2024 and June 30, 2025, respectively, based on reasonably possible changes in these key assumptions, including compound growth rate of revenue reduced to 0.27%, 0.08%, 0.05% and 0.01%, gross margin reduced 6.42%, 2.00%, 1.78% and 0.40% or discount rate increased 1.20%, 0.29%, 0.23% and 1.20%, respectively, with all other variables held constant, there is no shortfall of the recoverable amount against its carrying amount.
Goodwill arising from our business combination is tested annually for impairment.
Financial Information · 第 409 页
Our management has considered and assessed reasonably possible changes for key assumptions and has not identified any instances that could cause the carrying amount of each CGU to exceed its respective recoverable amount.
Financial Information · 第 411 页
The recoverable amount of Automotive Safety Systems-AM is estimated to exceed its carrying amount at December 31, 2022, 2023 and 2024 by approximately RMB176 million, RMB401 million and RMB259 million, respectively.
Our intangible assets increased from RMB68.1 million as of December 31, 2023 to RMB77.8 million as of December 31, 2024, primarily due to the increase in capitalized development costs ready for use.
Financial Information · 第 480 页
Impairment test on our in-licenses has been conducted by the management of our Group by engaging AVISTA Valuation Advisory Limited, an independent property valuer (“AVISTA”), to estimate the recoverable amount of the cash-generating unit at the end of each year.
Financial Information · 第 481 页
Based on the result of impairment test, there was no impairment for the above in-licenses and capitalized development costs not ready for use as of December 31, 2023 and 2024, respectively.
Our goodwill remained the same at RMB44.8 million (US$6.3 million) as of December 31, 2022, 2023, and 2024 and June 30, 2025.
Financial Information · 第 449 页
As of December 31, 2022, 2023 and 2024 and June 30, 2025, the headroom calculated based on the recoverable amount deducting the carrying amount of the Auto-driving CGU was RMB16,946.7 million, RMB19,758.6 million, RMB11,319.9 million (US$1,580.2 million) and RMB11,575.7 million (US$1,615.9 million), respectively.
Financial Information · 第 449 页
Therefore, we determined that goodwill was not impaired as of December 31, 2022, 2023 and 2024 and June 30, 2025.
During the year ended December 31, 2024, our management made the decision to discontinue production of certain product models due to accelerated product upgrades. Impairment amounting to RMB1,054.1 million is recognized to the non-patented technology related to these product models as the management are of the opinion that the value in use of the related technology is neglectable.
Financial Information · 第 321 页
We have recognized impairment losses amounting to nil, RMB76.2 million and RMB572.6 million for the years ended December 31, 2022, 2023 and 2024, respectively, based on the impairment assessment performed.
Financial Information · 第 322 页
During the year ended December 31, 2024, the financial performance of Luzhou Rongda did not meet the expectation set by our management. Our management had consequently determined impairment of goodwill directly related to Luzhou Rongda amounting to RMB46.9 million.
Goodwill remained stable at RMB754.8 million as of December 31, 2022, 2023 and 2024 and June 30, 2025, respectively.
Financial Information · 第 398 页
Prior to 2022, an impairment loss of RMB1,417.1 million was recognized for the goodwill of industry solution services CGU due to the expected decrease in growth rate.
Financial Information · 第 399 页
Projected gross margins — The basis used to determine the value assigned to the budgeted gross margins is the gross margins achieved in the year immediately before the budget year, increased for expected efficiency improvements, and expected market development.