Annual Report 2021

HOP FUNG GROUP HOLDINGS LIMITED • Annual Report 2021 146 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 31. 金融工具 （續） (b) 財務風險管理目標及政策 （續） 信貸風險及減值評估 信貸風險指本集團的交易對手未 能履行其合約義務並對本集團做 成財務損失之風險。本集團的信 貸風險主要為貿易應收款項、銀 行結餘、其他應收款項及按金。 本集團並無持有任何抵押品或其 他信貸提升以涵蓋其財務資產之 相關風險，惟與貿易應收款項相 關的信貸風險已減少，因為若干 貿易應收款項的結算以信譽良好 的金融機構發出的票據作為抵押。 客戶合約產生的貿易應收款 項 為盡量降低信貸風險，本公司董 事已委派一組人員負責制訂信貸 限額、信貸審批及其他監控程序， 以確保採取跟進措施收回逾期未 付之債項。此外，本集團根據預 期信貸虧損模式，或根據集體評 估，作出減值評估。就此而言，本 公司董事認為本集團之信貸風險 已大幅降低。 倘貿易應收款項以票據結算，本 集團僅接受信譽良好的中國銀行 發出的票據，因此本集團管理層 認為背書票據所產生的信貸風險 並不重大。 貿易應收款項涉及大量客戶，並 跨越不同行業以及地區，因此本 集團並無重大集中之信貸風險。 31. FINANCIAL INSTRUMENTS (Continued) (b) Financial risk management objectives and policies (Continued) Credit risk and impairment assessment Credit risk refers to the risk that the Group’s counterparties default on their contractual obligations resulting in financial losses to the Group. The Group’s credit risk exposures are primarily attributable to trade receivables, bank balances, other receivables and deposits. The Group does not hold any collateral or other credit enhancements to cover its credit risks associated with its financial assets, except that the credit risks associated with some trade receivables is mitigated because settlement of certain trade receivables are backed by bills issued by reputable financial institutions. Trade receivables arising from contracts with customers In order to minimise the credit risk, the directors of the Company has delegated a team responsible for determination of credit limits, credit approvals and other monitoring procedures to ensure that follow-up action is taken to recover overdue debts. In addition, the Group performs impairment assessment under ECL model on trade receivables individually or based on a collective assessment. In this regard, the directors of the Company consider that the Group’s credit risk is significantly reduced. The Group only accepts bills issued by reputable PRC banks if trade receivables are settled by bills and therefore the management of the Group considers the credit risk arising from the endorsed bills is insignificant. Trade receivables consist of a large number of customers, spread across diverse industries and geographical areas, and thus the Group does not have significant concentration of credit risk.