Annual Report 2009

Sunny Optical Technology (Group) Company Limited 舜宇光學科技（集團）有限公司 / Annual Report 2009 年報 32 Management Discussion and Analysis 管理層討論與分析 Foreign Exchange Rate Fluctuation Risk The Group exports a significant portion of its products to and makes purchases from international markets where transactions are denominated in U.S. dollars or other foreign currencies. To reduce the risk, the Group has entered into certain foreign exchange trading facilities to reduce its currency risks. Credit Risk The Group’s financial assets are bank balances and trade and other receivables, which represent the Group’s maximum exposure to credit risk in relation to financial assets. In order to minimize the credit risk in relation to trade receivables, the management has delegated a team responsible for determination of credit limits, credit approvals and other monitoring procedures to ensure that follow-up actions are taken to recover overdue debts. In addition, the Group reviews the recoverable amount of each individual trade debt at the end of each reporting period to ensure that adequate impairment losses are made for irrecoverable amounts. In this regard, the Directors consider that the Group’s credit risk is significantly reduced. The amounts presented in the consolidated statement of financial position are net of allowances for doubtful receivables, estimated by the management based on prior experience, their assessment of the current economic environment and future discounted cash flows to receive. The Group has no significant concentration of credit risk for its trade receivables which spread over a large number of counterparties and customers. The credit risk on liquid funds is limited because majority of the counterparties are banks with high credit-ratings assigned by international credit-rating agencies. 匯率波動風險 本集團大部份產品會出口銷售至國際巿場，同時 也自國際巿場購買大量產品，以上交易以美元或 其他外幣計算。為降低此風險，本集團已訂立若 干外匯交易工具以減低貨幣風險。 信貸風險 本集團的金融資產為銀行結存以及貿易和其他應 收款項，即本集團所面對有關金融資產的最大信 貸風險。 為減低有關貿易應收款項的信貸風險，管理層已 委派專責隊伍，負責釐定信貸限額、審批信貸及 其他監察程序，確保採取跟進行動收回過期債 務。此外，本集團於每個報告期期末檢討各項貿 易債務的可回收金額，確保已為不可收回金額計 提足夠減值虧損。因此，董事認為本集團的信貸 風險已大大降低。綜合財務狀況表所示金額已扣 除呆壞賬撥備，乃管理層根據過往經驗、對當時 經濟環境的評估及將於日後收取的現金流量貼現 值估計。 本集團的貿易應收款項分散於大量交易對手及客 戶，故無重大信貸集中風險。 由於本集團大部份交易對手為獲國際信貸評級機 構評定有高信貸評級的銀行，故流動資金的信貸 風險有限。