Annual Report 2021

HOP FUNG GROUP HOLDINGS LIMITED • Annual Report 2021 108 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 綜合財務報表附註（續） FOR THE YEAR ENDED 31ST DECEMBER, 2021 截至二零二一年十二月三十一日止年度 4. KEY SOURCES OF ESTIMATION UNCERTAINTY (Continued) Estimated impairment assessment of property, plant and equipment relating to the containerboard segment Property, plant and equipment are stated at costs less accumulated depreciation and impairment, if any. In determining whether an asset is impaired, the Group has to exercise judgment and make estimation, particularly in assessing: (1) whether an event has occurred or any indicators that may affect the asset value; (2) whether the carrying value of an asset can be supported by the recoverable amount, in the case of value-in-use, the net present value of future cash flows are estimated based upon the continued use of the asset; and (3) the appropriate key assumptions to be applied in estimating the recoverable amounts including the cash flow projections and an appropriate discount rate. As detailed in note 14, there are impairment indicators of the property, plant and equipment relating to the containerboard segment at 31st December, 2021. Accordingly, the management assessed the impairment of the property, plant and equipment relating to the containerboard segment and determined the recoverable amount of the cash-generating unit to which the property, plant and equipment belong to based on a value in use calculation. Changing the assumptions and estimates, including (i) discount rate; (ii) the success of obtaining the approval from the relevant government bureau for the renewal of licences after completion of the change to gas-fuel boilers in order to resume the production relating to the containerboard segment; (iii) the expected sale volume of the containerboard segment after resumption of production; (iv) budgeted gross margin; and (v) growth rate, could materially affect the recoverable amount. Particularly, the discount rate, the success of obtaining the approval from the relevant government bureau for the renewal of licences after completion of the change to gas-fuel boilers in order to resume the production relating to the containerboard segment, and the expected sale volume of the containerboard segment after resumption of production, are subject to greater uncertainties due to uncertainty on the market condition. As at 31st December, 2021, the carrying amounts of property, plant and equipment subject to impairment assessment were HK$913,296,000 (2020: HK$1,334,357,000), after taking into account the impairment losses of HK$420,634,000 (2020: nil) that have been recognised in profit or loss during the current year. Details of the impairment of property, plant and equipment are disclosed in notes 14. 4. 估計不明朗因素之主要來源 （續） 與箱板紙分部有關的物業、廠房 及設備之估計減值評估 物業、廠房及設備按成本減累計折舊及 減值（如有）列賬。於釐定資產是否減值 時，本集團須作出判斷及估計，尤其需 要評估： (1) 是否發生可能影響資產價值 的事件或任何跡象； (2) 資產的賬面值能 否以使用價值（即根據持續使用資產估 計的未來現金流量之現值淨額）的可收 回金額支持；及 (3) 估計可收回金額時所 採用的適當主要假設，包括現金流量預 測及適當貼現率。誠如附註 14 所詳述， 箱板紙分部相關物業、廠房及設備於二 零二一年十二月三十一日出現減值跡 象。因此，管理層評估箱板紙分部相關 物業、廠房及設備之減值並根據使用價 值計算釐定物業、廠房及設備所屬現金 產生單位之可收回金額。假設及估計之 變動，包括 (i) 貼現率； (ii) 完成改用燃氣 鍋爐後成功取得相關政府當局批准重續 牌照以使箱板紙分部恢復生產； (iii) 箱板 紙分部於恢復生產後的預期銷量； (iv) 預 算毛利率；及 (v) 增長率，可能對可收回 金額造成重大影響。尤其是貼現率、完 成改用燃氣鍋爐後成功取得相關政府當 局批准重續牌照以使箱板紙分部恢復生 產及箱板紙分部於恢復生產後的預期銷 量，均由於市況不確定而面對重大的不 明朗因素。 於二零二一年十二月三十一日，經計 及於本年度之損益確認之減值虧損 420,634,000 港元（二零二零年：無）後， 須予進行減值評估的物業、廠房及設備 的賬面值為 913,296,000 港元（二零二零 年： 1,334,357,000 港元）。有關物業、 廠房及設備之減值詳情於附註 14 披露。