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Income taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income taxes |
Components of income tax (expense) / credit |
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | US$’000 |  |  | US$’000 |  |  | US$’000 |
Current taxes (expense ) |  |  |  |  |  |  |  |  |
Hong Kong profits tax and the PRC EIT |  |  | (33 | ) |  |  | (45 | ) |  |  | - |
Income tax expense |  |  | (33 | ) |  |  | (45 | ) |  |  | - |
Deferred tax (expenses) / credit |  |  |  |  |  |  |  |  |  |  |  |
Hong Kong and the PRC |  |  | (39 | ) |  |  | - |  |  |  | (24 | )
Total deferred tax (expenses) / credit |  |  | (39 | ) |  |  | - |  |  |  | (24 | )
Total (expense) / credit |  |  | (72 | ) |  |  | (45 | ) |  |  | (24 | )
Reconciling items from income tax |
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | US$’000 |  |  | US$’000 |  |  | US$’000 |
Income before income taxes |  |  | 519 |  |  |  | 1,695 |  |  |  | 563 |
Computed tax using respective companies’ statutory tax rates |  |  | (100 | ) |  |  | 78 |  |  |  | 131 |
Change in valuation allowances |  |  | 62 |  |  |  | (79 | ) |  |  | 58 |
Non-deductible expenses |  |  | (34 | ) |  |  | (44 | ) |  |  | (213 | )
Income tax (expense) / credit at effective tax rate |  |  | (72 | ) |  |  | (45 | ) |  |  | (24 | )
Components of deferred tax assets |
|  | December 31, |
|  | 2024 |  |  | 2023 |
|  | US$’000 |  |  | US$’000 |
Tax losses |  |  | 313 |  |  |  | 572 |
Less: Valuation allowances |  |  | (251 | ) |  |  | (469 | )
Net deferred tax assets |  |  | 62 |  |  |  | 103 |
ZHEJIANG TIANLAN |
Income taxes |
Components of income tax (expense) / credit |
|  | Year ended December 31, |
|  | 202 4 |  |  | 202 3 |  |  | 202 2 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Current tax expense / (credit) |  |  |  |  |  |  |  |  |
PRC EIT |  |  | 3,275 |  |  |  | 7,340 |  |  |  | (7 | )
Income tax expense / (credit) |  |  | 3,275 |  |  |  | 7,340 |  |  |  | (7 | )
Deferred tax expense / (credit) |  |  | (2,910 | ) |  |  | 8,729 |  |  |  | (361 | )
Total deferred tax expense / (credit) |  |  | (2,910 | ) |  |  | 8,729 |  |  |  | (361 | )
Total expense / (credit) |  |  | 365 |  |  |  | 16,069 |  |  |  | (368 | )
Reconciling items from income tax |
|  | Year ended December 31, |
|  | 202 4 |  |  | 202 3 |  |  | 202 2 |
|  | RMB’000 |  |  | RMB’000 |  |  | RMB’000 |
Income before income tax |  |  | 14,831 |  |  |  | 86,606 |  |  |  | 15,398 |
Computed tax using respective companies’ statutory tax rates |  |  | 2,152 |  |  |  | 12,991 |  |  |  | 2,309 |
(Over)-provision for income tax in prior years |  |  | (5 | ) |  |  | (591 | ) |  |  | (69 | )
Temporary differences |  |  | 1,090 |  |  |  | 2,931 |  |  |  | 2,089 |
Tax effect of revenue not subject to tax |  |  |  |  |  |  |  |  |  |  | 3 |
Tax effect of expenses not deductible for tax purposes |  |  | 699 |  |  |  | 4,472 |  |  |  | 500 |
Tax effect of special deduction for research and development costs |  |  | (4,081 | ) |  |  | (3,734 | ) |  |  | (5,257 | )
Others |  |  | 510 |  |  |  |  |  |  |  | 57 |
Income taxes expense /(credit) at effective tax rate |  |  | 365 |  |  |  | 16,069 | ) |  |  | (368 | )
Components of deferred tax assets |
|  | December 31, |
|  | 202 4 |  |  | 202 3 |
|  | RMB’000 |  |  | RMB’000 |
Allowance for doubtful accounts |  |  | 5,058 |  |  |  | 4,218 |
Deferred government grant |  |  | 631 |  |  |  | 213 |
Impairment losses on assets |  |  | 1,771 |  |  |  | 1,508 |
Change in fair value |  |  | (37 | ) |  |  |  |
Investment loss |  |  | 1,425 |  |  |  | - |
Total deferred tax assets |  |  | 8,848 |  |  |  | 5,939 |

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