Impairment Losses - Trade receivables impairment loss for 2023 amounted to RMB 95,096 thousand, a significant increase from RMB 17,287 thousand in 2022, representing a growth of 451.5%[5] - Total impairment losses for contracts and other receivables reached RMB 111,529 thousand in 2023, compared to RMB 36,633 thousand in 2022, indicating a rise of 204.5%[5] - The provision for impairment losses on other receivables increased from RMB 9,075 thousand in 2022 to RMB 12,536 thousand in 2023[15] - The impairment losses recognized during the year amounted to RMB 3,461 thousand in 2023, down from RMB 7,180 thousand in 2022[15] Expected Credit Losses - The expected credit loss rate for trade receivables within 6 months is 25.63%, with a total book value of RMB 258,833 thousand and a provision of RMB 66,328 thousand[8] - The expected credit loss rate for trade receivables over 1 year is 59.22%, with a total book value of RMB 21,905 thousand and a provision of RMB 12,972 thousand[8] - The total provision for expected credit losses for trade receivables and contract assets increased from RMB 69,161 thousand at the beginning of 2022 to RMB 177,229 thousand by the end of 2023[10] - The expected credit loss rate for contract assets in 2023 is 25.63%, with a total book value of RMB 168,530 thousand and a provision of RMB 43,187 thousand[8] - The expected credit loss rate for other receivables is assessed at 1.46% for 2023, compared to 1.80% for 2022[13] Credit Risk - The company has not identified any significant concentration of credit risk in its trade receivables and contract assets[6] - The company’s credit risk primarily arises from trade and other receivables, with limited risk from cash and cash equivalents due to counterparties being banks and financial institutions with good credit ratings[6] - The company’s management believes that the credit quality of receivables has not significantly changed, and no impairment provision is necessary for overdue but non-impaired receivables[9] - The company believes there is no inherent significant credit risk associated with the outstanding deposits and prepayments[13] Trade Receivables Overview - The total book value of trade receivables in 2023 was RMB 396,496 thousand, with total provisions amounting to RMB 134,042 thousand[8] - The total balance of other receivables as of December 31, 2023, is RMB 857,396 thousand, with a provision for expected credit losses of RMB 12,536 thousand[13]
中原建业(09982) - 2024 - 年度业绩