China Apex Reports Impairment Loss Amidst Revised Forecast

China Apex Group Ltd. (HK:2011) has released an update.

China Apex Group Ltd. has reported an impairment loss of HK$54 million on assets in its zipper business due to a revised valuation aligning with expected sales and profit margins. An independent valuer applied a discounted cash flow method to estimate the value in use, conforming to international financial reporting standards. The valuation reflects a conservative growth forecast and a moderate discount rate, indicating caution in the company’s approach to asset valuation.

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