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Business Combination | 6 Months Ended
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Jun. 30, 2023
Disclosure of detailed information about business combination [abstract] |
Business Combination | 5. Business Combination On June 20, 2023, the Group acquired a 89.99% interest in Sinopower Holdings International Co. Limited (“Sinopower”). Sinopower is engaged in the rooftop solar energy in Hong Kong. The acquisition was made as part of the Group’s strategy to expand its capabilities in renewable energy solutions and EV charging globally. The purchase consideration for the acquisition was in the form of cash, with US$6.1 million, equivalent to RMB 43.6 million, paid at the acquisition date. The provisional allocation of fair value to the identifiable assets and liabilities of Sinopower as at the date of acquisition is as follows:
|  | Fair value recognized on acquisition RMB’000 (Unaudited) |
Total cash consideration |  |  | 43,567 |
Recognized amounts of identifiable assets acquired and liabilities assumed |  |  |
Cash and cash equivalents |  |  | 9,519 |
Inventories, trade receivables and other current assets |  |  | 34,455 |
Intangible assets |  |  | 11,451 |
Other non-current assets |  |  | 5,261 |
Total assets acquired |  |  | 60,686 |
Interest-bearing bank borrowings |  |  | (15,343 | )
Trade payables, lease liabilities and other payables |  |  | (41,215 | )
Deferred tax liabilities |  |  | (1,691 | )
Total liabilities assumed |  |  | (58,249 | )
Net assets acquired |  |  | 2,437 |
Non-controlling interests |  |  | 608 |
Goodwill on acquisition |  |  | 40,522 |
An analysis of the cash flows in respect of the acquisition of a subsidiary is as follows: |  |  |
|  | RMB’000 |
Total cash consideration |  |  | (43,567 | )
Cash and cash equivalents |  |  | 9,519 |
Net cash paid for acquisition of a subsidiary included in cash flows from investing activities |  |  | (34,048 | )
Goodwill is attributable to assembled workforce, and expected operating and financial synergies from the business combination. The Group recognized RMB 11.5 million of customer contracts intangible assets and the goodwill recognized is not expected to be deductible for income tax purposes. Since the acquisition, Sinopower contributed RMB 10.7 million to the Group's revenue and RMB 1.3 million to the consolidated profit for the six months ended June 30, 2023.

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- Definition The entire disclosure for business combinations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 3 -IssueDate 2023-01-01 -Section Disclosures -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=3&code=ifrs-tx-2023-en-r&doctype=Standard&dita_xref=IFRS03_g59-63_TI -URIDate 2023-03-23 + Details
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