Trade Receivables and Impairment - The company recognized a trade receivables impairment loss of approximately RMB 34,457,000 for the year ended December 31, 2021[4]. - The trade division's trade receivables credit loss provision was confirmed at approximately RMB 626,969,000, with most outstanding balances aged over three years[5]. - As of December 31, 2021, the recoverable amount of trade receivables in the trade division was assessed to be zero[10]. - The expected credit loss for trade receivables was estimated based on default risk, default probability, and expected loss recovery rate[9]. - The impairment loss was primarily due to a high proportion of small customers with significant outstanding debts and litigation[6]. Revenue Generation - The company has not generated any revenue from the trade division since 2020[6]. Agricultural Chemical Supply Chain Services - The company’s agricultural chemical supply chain services are conducted through its wholly-owned subsidiary, which has ceased to be consolidated since August 13, 2021[6]. Valuation Methods - The valuation report indicated that the expected credit loss was calculated using a default probability method[13]. - The board of directors confirmed that the valuation methods adopted have not changed since the announcement date[14]. Customer Follow-up - The company has been following up on the situation of its customers through company searches to understand their latest developments[6].
大生农业金融(01103) - 2022 Q3 - 季度财报