Investor Presentaiton
HKAS 1.51(a)
HKAS 1.49
HK Listco Ltd
Financial statements for the year ended 31 December 2023
(i)
Segment results, assets and liabilities 125
HKFRS 8.27(c) & (d)
HKFRS 8.27(b) & (f)
HKFRS 8.27(b)
HKFRS 8.27(a)
For the purposes of assessing segment performance and allocating resources between segments,
the group's senior executive management monitors the results, assets and liabilities attributable to
each reportable segment on the following bases:
Segment assets include all tangible, intangible assets and current assets with the exception of
interests in associates, investments in financial assets, deferred tax assets and other corporate
assets. Segment liabilities include provision for electronic product warranties, trade creditors,
accruals, bills payable and lease liabilities attributable to the manufacturing and sales activities of
the individual segments and bank borrowings managed directly by the segments.
Revenue and expenses are allocated to the reportable segments with reference to sales generated
by those segments and the expenses incurred by those segments or which otherwise arise from the
depreciation or amortisation of assets attributable to those segments. Segment profit includes the
group's share of profit arising from the activities of the group's joint venture. However, other than
reporting inter-segment sales of electronic products, assistance provided by one segment to
another, including sharing of assets and technical know-how, is not measured. In particular, all
patents and trademarks relating to the electronics division are allocated to the Hong Kong
segment.
The measure used for reporting segment profit is "adjusted EBITDA" i.e. "adjusted earnings before
interest, taxes, depreciation and amortisation", where "interest" is regarded as including
investment income and "depreciation and amortisation" is regarded as including impairment
losses on non-current assets. To arrive at adjusted EBITDA the group's earnings are further
adjusted for items not specifically attributed to individual segments, such as share of profits less
losses of associates, directors' and auditors' remuneration and other head office or corporate
administration costs.
In addition to receiving segment information concerning adjusted EBITDA, management is
provided with segment information concerning inter segment sales, the group's share of the joint
venture's profit, interest income and expense from cash balances and borrowings managed directly
by the segments, depreciation, amortisation and impairment losses and additions to non-current
segment assets used by the segments in their operations. Inter-segment sales are priced with
reference to prices charged to external parties for similar orders.
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