Interim Report 2020

28 Sunny Optical Technology (Group) Company Limited • INTERIM REPORT 2020 Management Discussion and Analysis 管理層討論與分析 In order to minimise the credit risk in relation to trade receivables, the management has delegated a team which is responsible for the determination of credit limits, credit approvals and other monitoring procedures to ensure that appropriate follow-up actions are taken to recover overdue debts. The Group also has purchased insurance relating to trade receivables. In addition, the Group reviews the recoverable amount of each individual trade debt at the end of each reporting period to ensure that adequate impairment losses are made for irrecoverable amounts. Therefore, the Directors consider that the Group’s credit risk is significantly reduced. The amounts presented in the condensed consolidated statement of financial position are net of allowance for credit losses, estimated by the management based on prior experience and historical observed default rates, their assessment of the current economic environment and the discounted cash flows to be received in future. The Group has no significant concentration of credit risk since its trade receivables are dispersed over a large number of counterparties and customers. The credit risk on liquidity is limited because a majority of the counterparties are banks with high credit ratings by international credit-rating agencies. Cash Flow Interest Rate Risk The Group’s cash flow interest rate risk relates primarily to variable rates applicable to short term bank deposits. Therefore, any future variations in interest rates will not have any significant impact on the results of the Group. Liquidity Risk The Group manages liquidity risk by maintaining an adequate level of cash and cash equivalents through continuously monitoring forecast and actual cash flows and matching the maturity profiles of financial assets and liabilities. 為減低有關貿易應收款項的信貸風險，管理層 已委派專責隊伍，負責釐定信貸限額、審批信 貸及其他監察程序，以確保採取適當的跟進行 動收回過期債務。本集團亦已購買有關貿易應 收款項的保險。此外，本集團於每個報告期期 末檢討各項貿易債務的可回收金額，確保已為 不可收回金額計提足夠減值虧損。因此，董事 認為本集團的信貸風險已大大降低。簡明綜合 財務狀況表所示金額已扣除信貸虧損，乃管理 層根據過往經驗及歷史觀察違約率、對當時經 濟環境的評估及將於日後收取的現金流量貼現 值估計。 本集團的貿易應收款項分散於大量交易對手及 客戶，故無重大信貸集中風險。由於本集團大 部分交易對手為獲國際信貸評級機構評定有高 信貸評級的銀行，故流動資金的信貸風險有 限。 現金流量利率風險 本集團的現金流量利率風險主要與短期銀行存 款的可變利率有關。因此，日後任何利率變化 均不會對本集團業績有任何重大影響。 流動資金風險 本集團持續監察現金流量的預測及實際水平， 並將其與各項金融資產與負債的到期狀況進行 匹配，以維持足夠的現金及現金等值項目，從 而控制流動資金風險。