Annual Report 2020

107 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 綜合財務報表附註 FOR THE YEAR ENDED 31ST DECEMBER, 2020 截至二零二零年十二月三十一日止年度 ANNUAL REPORT 2020 年度報告 4. 估計不明朗因素之主要來源 （續） 與箱板紙分部有關的物業、廠房及設備之估 計減值評估 於釐定資產是否減值時，本集團須作出判斷及估 計，尤其需要評估： (1) 是否發生可能影響資產價 值的事件或任何跡象； (2) 資產的賬面值能否以使 用價值（即根據持續使用資產估計的未來現金流量 之現值淨額）的可收回金額支持；及 (3) 估計可收回 金額時所採用的適當主要假設，包括現金流量預測 及適當貼現率。倘無法估計個別資產的可收回金 額，本集團估計該資產所屬之現金產生單位的可收 回金額（當可設立合理及一致的分配基準時，則包 括分配公司資產的可收回金額），否則由於有關公 司資產已獲分配，可收回金額於現金產生單位的最 小組別內確認。假設及估計（包括現金流量預測的 貼現率、增長率或毛利率）變動，可能會對可收回 金額產生重大影響。此外，現金流預測、增長率 及貼現率於本年度受限於更大不確定性，原因為 COVID-19 疫情發展及演變的不確定性及金融市場 的波動性，包括本集團箱板紙分部的潛在中斷。 於二零二零年十二月三十一日，由於出現減值跡 象，本集團管理層對於二零二零年十二月三十一 日賬面值為 1,334,357,000 港元（二零一九年： 1,309,954,000 港元）之與箱板紙分部有關的物業、 廠房及設備進行減值評估，並認為毋須確認減值虧 損（二零一九年：無）。進一步詳情載於附註 14 。 4. KEY SOURCES OF ESTIMATION UNCERTAINTY (Continued) Estimated impairment assessment of property, plant and equipment relating to the containerboard segment In determining whether an asset is impaired, the Group has to exercise judgment and make estimation, particularly in assessing: (1) whether an event has occurred or any indicators that may affect the asset value; (2) whether the carrying value of an asset can be supported by the recoverable amount, in the case of value-in-use, the net present value of future cash flows which are estimated based upon the continued use of the asset; and (3) the appropriate key assumptions to be applied in estimating the recoverable amounts including cash flow projections and an appropriate discount rate. When it is not possible to estimate the recoverable amount of an individual asset, the Group estimates the recoverable amounts of the cash-generating units to which the assets belong, including allocation of corporate assets when a reasonable and consistent basis of allocation can be established, otherwise recoverable amount is determined at the smallest group of cash generating units, for which the relevant corporate assets have been allocated. Changing the assumptions and estimates, including the discount rates, the growth rates or gross margin in the cash flow projections, could materially affect the recoverable amounts. Furthermore, the cash flows projections, growth rate and discount rate are subject to greater uncertainties in the current year due to uncertainty on how the COVID-19 pandemic may progress and evolve and volatility in financial markets, including potential disruptions in the Group’s containerboard segment. As at 31st December, 2020, the management of the Group performed impairment assessment on the property, plant and equipment relating to the containerboard segment with a carrying amount of HK$1,334,357,000 as at 31st December, 2020 (2019: HK$1,309,954,000) and determined that no impairment loss is required (2019: nil). Further details are set out in note 14.