INZONE GROUP(SH:600858) Zheng Quan Zhi Xing·2025-03-25 12:29Core Viewpoint - The report focuses on the asset impairment testing for goodwill by Ginza Group Co., Ltd. to determine the recoverable amount of the asset group of Shijiazhuang Oriental City Square Co., Ltd. [1][6][15] Group 1: Assessment Purpose and Methodology - The assessment is conducted to provide a reference for the goodwill impairment test in the financial report of Ginza Group Co., Ltd. [6][15] - The assessment is based on the basic principles of asset evaluation published by the Ministry of Finance and the professional standards set by the China Asset Appraisal Association [3][15] - The recoverable amount is defined as the higher of the present value of expected future cash flows and the fair value less costs to sell [6][15] Group 2: Financial Data and Valuation - As of December 31, 2024, the book value of the asset group, including goodwill, is 559.53 million yuan, with a fair value of 643.33 million yuan, leading to an assessed value of 606.57 million yuan and an impairment rate of 5.71% [6][12][15] - The financial performance of Shijiazhuang Oriental City Square Co., Ltd. shows total assets of 320.28 million yuan and total liabilities of 79.64 million yuan as of December 31, 2024 [12][13] - The company reported a net profit of -7.51 million yuan for the year 2024, indicating ongoing financial challenges [12][13] Group 3: Asset Composition and Structure - The asset group includes various components such as current assets, non-current assets (investment properties, fixed assets, intangible assets), and current liabilities [17][23] - The goodwill recognized from the acquisition of Shijiazhuang Oriental City Square Co., Ltd. amounts to 270.94 million yuan, with a book value of 222.04 million yuan after accounting for impairment [16][17] - The ownership structure indicates that Ginza Group Co., Ltd. holds a 55.14% stake in Shijiazhuang Oriental City Square Co., Ltd. [14][16]