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万威国际(00167) - 2022 Q3 - 季度财报
IDT INT'LIDT INT'L(HK:00167)2022-10-05 13:01

Impairment Losses - The company reported an impairment of HKD 8.9 million for right-of-use assets and HKD 8.6 million for finance lease receivables as of December 31, 2021[3]. - The company recognized an investment property impairment loss of approximately HKD 1 million, right-of-use asset impairment loss of HKD 8.9 million, and finance lease receivables impairment loss of HKD 8.6 million due to shortened lease agreements[9]. - The company estimates that the recoverable amount of future lease receivables is zero, leading to an impairment loss of HKD 8.6 million[11]. - The company believes that the impairment assessment results are appropriately reflected in the financial statements published on May 31, 2022[11]. - The board confirmed that the additional information provided is solely for the purpose of supplementing the impairment of right-of-use assets and the impairment of finance lease receivables for the year 2021, and does not affect other information contained in the 2021 annual report[12]. - All other information in the 2021 annual report remains unchanged[12]. Rental Obligations - The company has not paid any rental payments to the landlord since August 2021, leading to overdue rental claims of approximately RMB 2 million per month[4]. - A memorandum of understanding was signed on May 31, 2022, to terminate the head lease agreement and relieve the company from overdue rental obligations[6]. Lease Agreements - The lease agreements have a term of two years, starting from February 1, 2021, and expiring on January 31, 2023[4]. - The company aims to sublet idle leased assets to minimize operational cost burdens[8]. Impact of COVID-19 - The company has been impacted by COVID-19 restrictions, which affected negotiations with the landlord[6]. Company Leadership - The executive director is Mr. Zhu Yongning, who serves as the Chief Executive Officer[12]. - The non-executive director is Mr. Cui Xiao[12]. - The independent non-executive directors include Mr. Zhou Meilin, Mr. Xu Jinwen, and Mr. Zhou Rui[12].