Notes to the Financial Statements For the financial year ended 31 December 2025 Notes to the Financial Statements For the financial year ended 31 December 2025 7 ASSOCIATES AND JOINT VENTURES (continued) Joint ventures (continued) The following summarises the financial information of each of the Group’s material joint ventures based on their respective (consolidated) financial statements prepared in accordance with SFRS(I), modified for fair value adjustments on acquisition and differences in the Group’s accounting policies. The table also analyses, in aggregate, the carrying amount and share of profit or loss and OCI of the remaining individually immaterial joint ventures. GMC Chengdu Changfeng Perennial Mei Rong Jia 4-6 Shenyang Summit Renshoutang PRE 13 PHCH Immaterial joint ventures Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 31 December 2025 Revenue 11,562 – – 44,846 172,298 – 27,109 (Loss)/profit after tax (a) (10,944) (13) – 13,329 16,483 (26,704) (2,403) OCI – (7,032) (31,794) (45,975) (9,436) – (7,410) Total comprehensive income (10,944) (7,045) (31,794) (32,646) 7,047 (26,704) (9,813) Attributable to NCI (2,147) – – – – (5,239) – Attributable to joint venture’s shareholder (8,797) (7,045) (31,794) (32,646) 7,047 (21,465) (9,813) (a) Includes: - Depreciation and amortisation – – – (22) (19,958) – (166) - Interest expense (22,078) – – – (5,171) – (21,630) - Tax expense (2,325) – – (1,995) (160) – (31) Non-current assets 175,877 392,206 6 1,550,955 472,815 426,954 1,296,007 Current assets (b) 1,054,608 10,699 1,811,740 259,375 100,044 706 112,538 Non-current liabilities (c) (841,181) (29,206) (451,649) (265,344) (167,346) – (720,211) Current liabilities (d) (43,330) (143,490) (286,280) (29,406) (83,674) (707) (127,501) Net assets 345,974 230,209 1,073,817 1,515,580 321,839 426,953 560,833 Attributable to joint venture’s shareholder 345,974 230,209 1,073,817 1,515,580 321,839 426,953 560,833 (b) Includes cash and cash equivalents 8,468 193 298 6,734 34,444 21,764 29,689 (c) Includes non-current financial liabilities (excluding trade and other payables and provisions) (841,181) – (451,649) – (166,628) (1,091,573) (668,518) (d) Includes current financial liabilities (excluding trade and other payables and provisions) 1,515 – – – – – (7,307) Group’s interest in net assets of joint venture at beginning of the year 178,459 118,627 552,806 774,114 157,395 81,630 214,472 233,611 2,311,114 Group’s share of: - (Loss)/Profit after tax (5,472) (6) – 6,664 8,242 (5,341) (1,082) (10,716) (7,711) - OCI – (3,516) (15,897) (22,987) (4,718) – (3,334) (224) (50,676) Total comprehensive income (5,472) (3,522) (15,897) (16,323) 3,524 (5,341) (4,416) (10,940) (58,387) Additions during the year – – – – – 8,746 42,319 9,618 60,683 Capital contribution converted from shareholder loan – – – – – – – 97,079 97,079 Dividends paid during the year – – – – – – – (30,862) (30,862) Others – – – – – – – (964) (964) Carrying amount of interest in joint venture at end of the year 172,987 115,105 536,909 757,791 160,919 85,035 252,375 297,542 2,378,663 7. ASSOCIATES AND JOINT VENTURES (continued) Joint ventures (continued) GMC Chengdu Changfeng Perennial Mei Rong Jia 4-6 Shenyang Summit Renshoutang PRE 13 PHCH Immaterial joint ventures Total $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000 31 December 2024 Revenue – – – 45,910 140,469 – 5,804 (Loss)/profit after tax (a) (1,796) (51) – 11,584 33,178 (37,346) 52,846 OCI – (3,328) (15,216) (21,612) (4,132) – (13,565) Total comprehensive income (1,796) (3,379) (15,216) (10,028) 29,046 (37,346) 39,281 Attributable to NCI (352) – – – – (7,327) – Attributable to joint venture’s shareholder (1,444) (3,379) (15,216) (10,028) 29,046 (30,019) 39,281 (a) Includes: - Depreciation and amortisation – – – (17) (20,545) – (72) - Interest expense (570) – – – (5,324) – (3,913) - Tax expense – – – (2,787) (164) – (20,830) Non-current assets 140,093 404,186 6 1,599,275 482,266 409,140 1,185,736 Current assets (b) 1,037,981 11,194 1,847,264 247,556 224,073 746 81,156 Non-current liabilities (c) (819,283) (30,098) (451,842) (273,449) (117,581) – (639,411) Current liabilities (d) (1,874) (148,028) (289,817) (25,157) (273,966) (706) (150,877) Net assets 356,917 237,254 1,105,611 1,548,225 314,792 409,180 476,604 Attributable to joint venture’s shareholder 356,917 237,254 1,105,611 1,548,225 314,792 409,180 476,604 (b) Includes cash and cash equivalents 6,568 361 311 4,734 35,496 49 22,308 (c) Includes non-current financial liabilities (excluding trade and other payables and provisions) (819,282) – (451,482) – (171,718) – (590,502) (d) Includes current financial liabilities (excluding trade and other payables and provisions) 1,985 – – – – – (6,408) Group’s interest in net assets of joint venture at beginning of the year 131,007 120,317 560,414 779,128 142,872 89,099 184,625 199,365 2,206,827 Group’s share of: - (Loss)/Profit after tax (898) (26) – 5,792 16,589 (7,469) 23,781 30,574 68,343 - OCI – (1,664) (7,608) (10,806) (2,066) – (6,104) 594 (27,654) Total comprehensive income (898) (1,690) (7,608) (5,014) 14,523 (7,469) 17,677 31,168 40,689 Additions during the year 48,350 – – – – – 12,170 3,078 63,598 Carrying amount of interest in joint venture at end of the year 178,459 118,627 552,806 774,114 157,395 81,630 214,472 233,611 2,311,114 The share held in a joint venture was pledged as security for loans and borrowings (Note 12). OVERVIEW PERFORMANCE SUSTAINABILITY FINANCIALS APPENDIX 203 202 PERENNIAL HOLDINGS PRIVATE LIMITED ANNUAL REPORT 2025
RkJQdWJsaXNoZXIy NTM2MDQ5