Annual Report 2021

188 Sunny Optical Technology (Group) Company Limited • ANNUAL REPORT 2021 Notes to the Consolidated Financial Statements 綜合財務報表附註 FOR THE YEAR ENDED 31 DECEMBER 2021 截至二零二一年十二月三十一日止年度 3. BASIS OF PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS AND SIGNIFICANT ACCOUNTING POLICIES (Continued) 3.2 Significant accounting policies (Continued) Financial instruments (Continued) Financial assets (Continued) Impairment of financial assets (Continued) Lifetime ECL represents the ECL that will result from all possible default events over the expected life of the relevant instrument. In contrast, 12-month ECL ( “ 12m ECL ” ) represents the portion of lifetime ECL that is expected to result from default events that are possible within 12 months after the reporting date. Assessment are done based on the Group’s historical credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions and an assessment of both the current conditions at the reporting date as well as the forecast of future conditions. The Group always recognises lifetime ECL for trade receivables. The ECL on these assets are assessed individually for debtors credit-impaired and/or collectively using a provision matrix with appropriate groupings. For all other instruments, the Group measures the loss allowance equal to 12m ECL, unless when there has been a significant increase in credit risk since initial recognition, in which case the Group recognises lifetime ECL. The assessment of whether lifetime ECL should be recognised is based on significant increases in the likelihood or risk of a default occurring since initial recognition 3. 綜合財務報表之編製基準及 重要會計政策（續） 3.2 重要會計政策（續） 金融工具（續） 金融資產（續） 金融資產減值（續） 全期預期信貸虧損指於相關工具預期 壽命內發生所有可能的違約事件而導 致的預期信貸虧損。相反， 12 個月預 期信貸虧損（「 12 個月預期信貸虧損 」） 則指預期於報告日期後 12 個月內可能 發生的違約事件而導致的部分全期預 期信貸虧損。預期信貸虧損根據本集 團過往信貸虧損經驗進行評估，並根 據債務人的特定因素、一般經濟狀況 及於報告日期對當前狀況及未來狀況 預測的評估而作出調整。 本集團始終就貿易應收款項確認全期 預期信貸虧損。該等資產的預期信貸 虧損乃對已發生信貸減值的債務人個 別計提及╱或採用撥備矩陣對合適組 別進行整體評估。 對於所有其他工具，本集團以相等於 12 個月預期信貸虧損計量虧損撥備， 除非自初步確認以來信貸風險已大幅 上升，在該情況下，本集團確認全期 預期信貸虧損。有關應否確認全期預 期信貸虧損的評估乃基於自初步確認 以來違約的可能性或風險大幅上升。