海信视像(600060) - 2024 Q2 - 季度财报

Financial Assets and Liabilities Classification - The company classifies financial assets at initial recognition based on its business model for managing the assets and the contractual cash flow characteristics, categorizing them as either amortized cost, fair value through other comprehensive income, or fair value through profit or loss[141] - Financial assets measured at fair value through profit or loss have related transaction costs directly recognized in profit or loss, while transaction costs for other categories of financial assets are included in their initial recognition amount[142] - Financial assets classified as measured at amortized cost include monetary funds, accounts receivable, notes receivable, other receivables, and contract assets[143] - Financial assets classified as measured at fair value through other comprehensive income (FVTOCI) include debt instruments and other equity instrument investments[144] - Financial assets classified as measured at fair value through profit or loss (FVTPL) primarily include trading financial assets[145] - Financial liabilities are classified as measured at amortized cost or at fair value through profit or loss, with transaction costs treated accordingly[145] Foreign Currency Transactions and Exchange Rates - For foreign currency transactions, the company uses the spot exchange rate at the transaction date for initial recognition, and at the balance sheet date, monetary items are translated using the spot exchange rate, with resulting exchange differences recognized in profit or loss[139] Cash and Cash Equivalents - The company's cash and cash equivalents include cash on hand and deposits that can be used for payment at any time, as well as investments with a maturity of no more than 3 months, high liquidity, and minimal risk of value fluctuation[138] Impairment of Financial Instruments and Contract Assets - The company uses an expected credit loss model to assess impairment of financial instruments and contract assets, considering historical data and macroeconomic factors[146] - For receivables and contract assets, the company applies a simplified measurement method to calculate expected credit losses over the entire lifetime[147] - Significant receivables, defined as those exceeding 0.5% of shareholders' equity or 50 million RMB, are subject to individual impairment testing[147] - Receivables are grouped based on credit risk characteristics, such as aging and transaction relationships, to assess expected credit losses[147] - The company calculates expected credit losses for receivables from related parties based on historical credit loss experience, current conditions, and future economic forecasts, using exposure at default and lifetime expected credit loss rates[148] - For contract assets, the company categorizes them into age-based and transaction object relationship-based portfolios, with expected credit loss rates determined by reference to the corresponding accounts receivable policies[148] - The company divides receivables financing into portfolios based on the credit risk of the acceptor, with expected credit loss rates calculated for bank acceptance bills and commercial acceptance bills from related and non-related parties[148] - Other receivables are assessed for credit risk at each balance sheet date, with expected credit losses measured over the next 12 months or the entire lifetime depending on the stage of credit risk[149] Derecognition of Financial Assets - Financial assets are derecognized when the company transfers substantially all risks and rewards, with gains or losses recognized based on the difference between the carrying amount and the consideration received[150] Derivative Financial Instruments - Derivative financial instruments are used for hedging purposes, with changes in fair value recognized directly in profit or loss[151] Presentation of Financial Assets and Liabilities - Financial assets and liabilities are presented separately in the balance sheet unless specific conditions for netting are met[152] Inventory Measurement - Inventory is measured at the lower of cost or net realizable value, with provisions for inventory write-downs recognized when cost exceeds net realizable value[153] Contract Assets - Contract assets represent the right to consideration for goods transferred to customers, with expected credit losses determined using methods similar to those for financial instruments[155] Revenue Recognition - Revenue recognition for product sales is based on the transfer of control, with specific timing for different sales channels such as offline, online, and export[180] - Internet operation revenue is recognized over time as the service is provided and consumed by the customer[181] - Service revenue, including product repair and technical development services, is recognized either at a point in time or over time depending on the nature of the service[181] - EMC service revenue is recognized over the contract period based on actual energy savings and agreed prices[181] - Revenue is measured based on the expected consideration from customers, excluding third-party collections and expected refunds[182] - Variable consideration, such as contract discounts, is estimated using the expected value or most likely amount method[182] - Sales return provisions are accounted for by estimating future returns and recognizing a liability and an asset for expected returns[182] Government Grants - Government grants are recognized when conditions are met and are classified as either asset-related or income-related[186] - Asset-related government grants are recognized as deferred income and amortized over the useful life of the asset[186] - Income-related government grants are recognized as deferred income and recognized in profit or loss when related costs or losses are incurred[186]