小菜园国际控股有限公司XIAOCAIYUAN INTERNATIONAL HOLDING LTD.00999.HK
投资银行理财产品按公允价值计量
Our financial assets at FVPL were RMB19.5 million as of December 31, 2021 and RMB5.0 million as of December 31, 2022, representing the balance of two different wealth management products we invested in with a short term of one year. Our financial assets at FVPL were nil as of December 31, 2023, because we redeemed all of our short-term wealth management investments in 2023. Our financial assets at FVPL increased to RMB225.6 million as of August 31, 2024, primarily due to our purchase of wealth management products in 2024.
Financial Information · 第 293 页
We intend to continue to invest in low-risk wealth management products and we will ensure that all such investments comply with the applicable laws and regulations, including the relevant requirements under Chapter 14 of the Listing Rules after the Listing.
Due to Guoquan’s initial public offering in November 2023, fair value measurement of Guoquan’s securities was transferred from Level 3 to Level 1.
Financial Information · 第 413 页
Our other net income/(loss) decreased from RMB23.9 million in the six months ended June 30, 2023 to negative RMB59.1 million in the same period in 2024, primarily due to a decrease in fair value change in financial assets measured at FVPL as a result of the decreased valuation of Guoquan.
Financial Information · 第 371 页
Based on the due diligence work conducted by the Joint Sponsors as stated above, and having considered the work performed by our management and audit procedures carried out by the Reporting Accountants, nothing has come to the Joint Sponsors’ attention that would cause the Joint Sponsors to question the valuation analysis in relation to the level 3 financial assets and liabilities performed by us and the audit procedures carried out by the Reporting Accountants for the purpose of expressing an opinion on the historical financial information of our Group as a whole.
The current portion of our financial assets at fair value through profit or loss amounted to RMB10.4 billion, RMB7.4 billion, RMB6.8 billion and RMB18.0 billion as of December 31, 2021, 2022 and 2023 and June 30, 2024, respectively, primarily reflecting the changes in our structured deposits.
Financial Information · 第 406 页
The non-current portion of our financial assets at fair value through other comprehensive income further increased to RMB9.5 billion as of December 31, 2023, primarily attributable to the increase in our listed equity investments, at fair value, from RMB158.9 million as of December 31, 2022 to RMB2.4 billion as of December 31, 2023, mainly reflecting our investment in J&T Global Express Limited.
Financial Information · 第 405 页
Based on the above procedures, our Directors are of the view that the level 3 fair value measurement of our financial assets is fair and reasonable and our financial statements are properly prepared.
We recorded financial assets at fair value through profit or loss of RMB111.3 million, RMB98.3 million, RMB187.5 million and RMB116.9 million as of December 31, 2021, 2022, 2023 and May 31, 2024, respectively.
Financial Information · 第 410 页
Our current investments are principal-guaranteed wealth management products.
Financial Information · 第 410 页
Upon the Listing, our investment in wealth management products is subject to the compliance with Chapter 14 of the Listing Rules.
Other net income decreased by 22.5% from RMB14.8 million for the five months ended May 31, 2023 to RMB11.4 million for the same period in 2024, primarily due to a decrease in net realized and unrealized gains on investments in financial assets measured at FVPL, mainly resulting from the redemption of wealth management products.
Financial Information · 第 458 页
The decrease was mainly due to a decrease in financial assets, which resulted from the allocation of the funds towards daily operations.
Gain from changes in fair value of financial assets at FVTPL represents gain or loss from our listed and unlisted equity investments in PRC companies, our unlisted fund investment and the wealth management products we purchased.
Financial Information · 第 407 页
The wealth management products were structured deposits with financial institutions with maturities within one year.
Financial Information · 第 407 页
We believe the wealth management products we purchased are of low risks considering their guaranteed minimum returns and short terms.
华润饮料(控股)有限公司China Resources Beverage (Holdings) Company Limited02460.HK
以结构性存款为主的投资收益
In 2021, 2022 and 2023, we derived investment income from financial assets at FVTPL, which mainly represent short-term structured deposits placed with well-established commercial banks in China that are principal-protected with guaranteed minimum returns.
Financial Information · 第 342 页
We strictly abide by our financial management policies, and only invest in products with guaranteed minimum returns and principal protection.
Financial Information · 第 343 页
Our other income decreased by 9.1% from RMB83.9 million in the four months ended April 30, 2023 to RMB76.3 million in the same period of 2024, primarily due to a decrease in the investment income from financial assets at FVTPL, mainly as a result of a decrease in the structured deposits we purchased, which was partially offset by: (i) an increase in interest income resulting from an increased average balance of bank deposits; and (ii) an increase in the government grants.
Our net fair value changes of financial assets measured at fair value through profit or loss relate to fair value changes of investments in unlisted entities, mainly including minority equity investments in seven information technology service companies in the PRC with our equity interest ranging from 3.8633% to 30%.
Financial Information · 第 398 页
We recorded net fair value gains on financial assets measured at fair value through profit or loss of RMB30.9 million and net fair value losses of RMB54.7 million in 2022 and 2023, respectively, primarily due to the decreased market valuation of some of our investments during the periods.
Financial Information · 第 408 页
The relatively stable adjusted net loss (non-IFRS measure) in 2022 and 2023 and for the three months ended March 31, 2023 and 2024 despite the overall improvement in operating performance in 2023 and 2024 was partially due to the fluctuation in gains/losses recognized from the fair value changes of financial assets at fair value through profit or loss as mentioned above.
Our financial assets at fair value through profit or loss primarily consist of our investments in principal non-guaranteed short-term wealth management products issued by commercial banks.
Financial Information · 第 398 页
Our financial assets at fair value through profit or loss increased by 25.2% from RMB40.0 million as of December 31, 2021 to RMB50.1 million as of December 31, 2022, primarily due to our purchase of RMB50.0 million of principal non-guaranteed short-term wealth management products in 2022 and recognition of net fair value gains on financial assets at fair value through profit or loss of RMB0.1 million.
Financial Information · 第 398 页
Our investment strategy related to wealth management products aims to minimize the financial risks by reasonably and conservatively matching the maturities of the portfolio to anticipated operating cash needs.
Our other financial assets at FVOCI was RMB27.5 billion, RMB17.7 billion, RMB11.1 billion and RMB7.5 billion as at 31 December 2021, 2022 and 2023 and 30 April 2024, respectively.
Financial Information · 第 281 页
Our other financial assets at FVPL primarily consist of equity securities, structured deposits, listed securities and others.
Financial Information · 第 281 页
We primarily invest in financial products issued by major commercial banks in mainland China with low risks and a short-to-mid-term.
Our gains primarily consisted of (i) investment income on financial assets at FVTPL, representing realized gains on wealth management products purchased by us; and (ii) fair value gain or loss on financial assets at FVTPL, representing unrealized gains or losses on wealth management products purchased by us.
Financial Information · 第 467 页
partially offset by a decrease in investment income on financial assets at FVTPL of RMB1.6 million mainly due to a decrease in the scale of our investment in wealth management products.
黑芝麻智能国际控股有限公司Black Sesame International Holding Limited02533.HK
持有按公允价值计量的国库债券及货币市场基金
Our financial assets at fair value through profit or loss recorded as current assets amounted to nil, RMB706.5 million, RMB8.2 million and RMB8.3 million as of December 31, 2021, 2022 and 2023 and March 31, 2024, respectively.
Financial Information · 第 384 页
To control our risk exposure, we primarily procure Treasury bonds and money market fund unsecured with variable interest rates.
Our financial assets at fair value through profit or loss primarily consist of the structured notes issued by a PRC securities company.
Financial Information · 第 352 页
Our financial assets at fair value through profit or loss decreased from RMB238.7 million as at 31 December 2021 to nil as at 31 December 2022 and 2023 and 30 April 2024, mainly due to the change in our investment portfolio.
Financial Information · 第 352 页
We primarily invest in wealth management products and time deposit issued by major commercial banks with low risks.
上海声通信息科技股份有限公司Shanghai Voicecomm Information Technology Co., Ltd.02495.HK
对AI硬件私企的战略投资按公允价值计量
Our financial assets measured at FVPL increased from RMB20.0 million as of December 31, 2021 to RMB28.3 million as of December 31, 2022, and further to RMB28.6 million as of December 31, 2023, as a result of the business growth of such invested company.
Financial Information · 第 440 页
In 2021, 2022 and 2023, such changes in fair value amounted to nil, RMB8.3 million and RMB0.3 million, respectively.
Financial Information · 第 426 页
Our Board is the ultimate decision-making authority on investments, responsible for overseeing all the investment decisions and evaluating the reasons for the investment, and will conduct periodical review on the returns of our investments.
We purchased unlisted funds during FY2021, and its carrying values as at 31 December 2021, 31 December 2022 and 31 December 2023 were RMB130.3 million, RMB138.5 million and RMB147.2 million, respectively.
Financial Information · 第 448 页
Our other gains and losses increased from gain of RMB8.2 million for FY2022 to RMB9.7 million for FY2023 mainly due to the increase in gain from changes in fair value of financial assets at FVTPL as a result of increase in the fair value of the investment product during the year.
Financial Information · 第 429 页
Based on the background of the issuer of the investment fund product and the internal policies implemented by the Group as out above, the Directors considered that the credit risk exposure of the Group arising from the investment of unlisted investment fund product during the Track Record Period is low.
瑞昌国际控股有限公司RUICHANG INTERNATIONAL HOLDINGS LIMITED01334.HK
柏米嘉基金投资确认公允价值亏损
We recognised a fair value loss of approximately RMB2.3 million for the year ended 31 December 2022, resulting in a decrease of balance of our financial assets at fair value through other comprehensive income to approximately RMB14.7 million as at 31 December 2022.
Financial Information · 第 324 页
Based on the above, our Directors are of the view that the valuation of our Group’s level 3 financial instruments is fair and reasonable and the financial statements of our Group is properly stated.
We had financial assets at FVTPL of RMB238.3 million, RMB440.4 million and RMB300.7 million as of December 31, 2021, 2022 and 2023, respectively.
Financial Information · 第 389 页
We recorded fair value losses of financial assets and liabilities at FVTPL of RMB265.5 million, RMB53.5 million and RMB55.9 million in 2021, 2022 and 2023, respectively.
Financial Information · 第 366 页
Investment decisions on wealth management products must be approved by our chief financial officer.
Our unlisted equity instruments and unlisted debt security are measured at fair values based on the valuation performed by an independent professional valuer with fair values being determined based on significant unobservable inputs using valuation techniques.
Financial Information · 第 324 页
Fair value gain or loss on financial assets at FVTPL comprises the fair value gain or loss on our RMB-denominated structured deposits and unlisted debt security.
Financial Information · 第 334 页
(i) a decrease in our fair value gain on financial assets at FVTPL by 53.7% from RMB7.3 million in 2021 to RMB3.4 million in 2022 due to our disposal of certain financial assets as part of our investment decisions;
We had financial assets at fair value through profit or loss of RMB220.3 million, RMB150.7 million and RMB352.8 million as of December 31, 2021, 2022 and 2023, respectively, which represented our wealth management products purchased from a reputable licensed commercial bank in China.
Financial Information · 第 392 页
we mainly make investments in short-term wealth management products with low risk, high liquidity and reasonable returns; and
Financial Information · 第 392 页
Upon Listing, our investment in financial assets at fair value through profit or loss will be subject to compliance with Chapter 14 of the Listing Rules.
The current portion of our financial assets at FVTPL represent wealth management products issued by reputable PRC commercial banks, being structured deposits with terms not exceeding six months.
Financial Information · 第 584 页
We use alternative pricing sources and models utilizing market observable inputs to estimate the fair value, and we classify the valuation techniques that use these inputs as Level 3 of fair value measurement. The current portion of our financial assets at FVTPL was nil, RMB356.4 million and RMB863.4 million as of December 31, 2021, 2022 and 2023, respectively.
Financial Information · 第 584 页
In accordance with the strategy and investment committee charter, the strategy and investment committee is reporting to our Board and directly managed by chairman of the Board.