Financial Performance and Projections - The company recognized a full impairment of right-of-use assets due to continuous losses and negative cash flow from its biopharmaceutical and corporate investment businesses, resulting in a recoverable amount of zero[4]. - Estimated proceeds from the sale of listed securities in 2024 are projected to be 1,130,000[5]. - The company anticipates milestone revenue from China to reach 500,000[5]. - The revenue growth rate for royalty income is conservatively estimated between 0% and 17%, while income from intellectual property (Deep Longevity) is projected to grow between 33.7% and 115.2%[5]. - Revenue projections for Deep Longevity are estimated at 1,396,800 in 2025, 3,235,400 in 2027, with a growth rate of 45.7% to 205.0%[7]. - The company adjusted its revenue growth rate from a previous range of 63.9%-366.7% down to 45.7%-205.0% due to actual cash flows being approximately 59% lower than prior forecasts[8]. - The total operating expenses are projected to range from -133.6% to -52.6%[7]. Impairment and Valuation - The impairment assessment for intangible assets, specifically the intellectual property of Deep Longevity, indicated a valuation of approximately 1,520,000, suggesting no impairment is necessary[6]. - The valuation method used for intangible assets is the income approach, which quantifies future earnings into expected future cash flows[10]. - The company acknowledged a full impairment after discussions with Rosenblatt regarding revenue growth rates and actual income per customer, leading to projected net cash outflows during the forecast period[11]. Business Strategy and Focus - The company has shifted its business focus from B2C to B2B, leading to adjustments in the cash flow forecast period from ten years to four years, aligning with the remaining useful life of the intangible assets[8]. - The supplementary information provided does not affect other data contained in the 2023 annual report, which remains unchanged[11].
励晶太平洋(00575) - 2023 - 年度业绩