Annual Report 2021

38 Sunny Optical Technology (Group) Company Limited • ANNUAL REPORT 2021 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 of the Company (the “ Management ”) has delegated a team 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 has also purchased insurances 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 consolidated statement of financial position are net of allowance for expected credit losses, and are estimated by the Management based on their previous experience, assessment of the current economic environment and the discounted cash flows to be received in the future. The Group has no significant concentration of credit risk since its trade receivables are dispersed to a large number of counterparties and customers. The credit risk on liquidity is limited because a majority of the counterparties of the Group are banks with high credit-ratings given by international credit-rating agencies. Cash Flow Interest Rate Risk The Group’s cash flow interest rate risk is primarily related to variable rates applicable to short term bank deposits and bank borrowings. The Management will review the proportion of borrowings in fixed and floating rates and ensure they are within reasonable range. 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 them with the maturity profile of each financial asset and liability. 為盡量減低有關貿易應收款項的信貸風險，本 公司管理層（「 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逾期債務。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 可收回金額，確保已為不可收回的金額計提足 夠減值虧損。因此，董事認為本集團的信貸風 險已大大降低。綜合財務狀況表所呈列金額已 扣除預期信貸虧損撥備，乃管理層根據過往經 驗、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 款及銀行借貸的可變利率有關。管理層將檢討 固定及浮動利率的借貸比例並確保其處於合理 範圍內。因此，日後任何利率變化均不會對本 集團業績造成任何重大影響。 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 配對，以維持足夠水平的現金及現金等值項 目，從而控制流動資金風險。