| Discontinued operations |
| 5. | Discontinued
operations |
Effective
from August 31, 2024, the Group disposed of its entire ownership interest in Sinopower, a subsidiary engaged in the provision of solar
energy solutions, to a wholly-owned subsidiary of Newlink. For the eight months ended August 31, 2024 and the year ended December 31,
2023, Sinopower is reported as a discontinued operation.
On
September 30, 2024, the Group approved a plan to sell its ownership interest in certain subsidiaries engaged in the energy storage solutions
business to a wholly-owned subsidiary of Newlink. As at December 31, 2024 and 2025, the associated assets and liabilities are consequently
presented as held for sale. For the years ended December 31, 2024 and 2025, these subsidiaries are reported as a discontinued operation.
As at April 10, 2026, the Group disposed of its entire energy storage solutions business to a wholly-owned subsidiary of Newlink. Financial
information relating to the above discontinued operations is set out below.
| (b) | Financial
performance and cash flow information |
| | |
Year
ended December 31, | |
| | |
2024 | | |
2025 | |
| | |
RMB’000 | | |
RMB’000 | |
| | |
| | |
| |
| Revenues | |
| 93,882 | | |
| 2,826 | |
| Cost
of revenues | |
| (85,538 | ) | |
| (1,444 | ) |
| Operating
expenses | |
| (26,598 | ) | |
| (26,258 | ) |
| Other
(losses)/gains, net | |
| (258 | ) | |
| 105 | |
| Fair
value changes of financial instruments at fair value through profit or loss | |
| 61 | | |
| — | |
| Finance
costs | |
| (2,598 | ) | |
| (86 | ) |
| Loss
before income tax | |
| (21,049 | ) | |
| (24,857 | ) |
| Income
tax | |
| (1,193 | ) | |
| — | |
| Loss
after income tax | |
| (22,242 | ) | |
| (24,857 | ) |
| Gain
on sale of Sinopower after income tax | |
| 15,838 | | |
| — | |
| Loss
from discontinued operations | |
| (6,404 | ) | |
| (24,857 | ) |
| Attributable
to: | |
| | | |
| | |
| Equity
holders of the Company | |
| (5,154 | ) | |
| (22,698 | ) |
| Non-controlling
interests | |
| (1,250 | ) | |
| (2,159 | ) |
| | |
| | | |
| | |
| Other
comprehensive income from discontinued operations | |
| — | | |
| — | |
| Total
comprehensive loss from discontinued operations | |
| (6,404 | ) | |
| (24,857 | ) |
| Attributable
to: | |
| | | |
| | |
| Equity
holders of the Company | |
| (5,154 | ) | |
| (22,698 | ) |
| Non-controlling
interests | |
| (1,250 | ) | |
| (2,159 | ) |
| | |
Year
ended December 31, | |
| | |
2024 | | |
2025 | |
| | |
RMB’000 | | |
RMB’000 | |
| | |
| | |
| |
| Net
cash (used in)/generated from operating activities | |
| (33,377 | ) | |
| 11,078 | |
| Net
cash generated from investing activities | |
| — | | |
| — | |
| Net
cash generated from/(used in) financing activities | |
| 4,475 | | |
| (10,098 | ) |
| Net
(decrease)/increase in cash generated by the discontinued operations | |
| (28,902 | ) | |
| 980 | |
| (c) | Assets
and liabilities of disposal group classified as held for sale |
The
following assets and liabilities were reclassified as held for sale in relation to the discontinued operation as at 31 December 2024
and 2025:
| | |
As
of December 31, | |
| | |
2024 | | |
2025 | |
| | |
RMB’000 | | |
RMB’000 | |
| | |
| | |
| |
| Assets classified as held for sale | |
| | |
| |
| Cash and cash equivalents | |
| 89 | | |
| 1,069 | |
| Trade receivables, net | |
| 34,414 | | |
| — | |
| Inventories | |
| 1,181 | | |
| — | |
| Prepayments, other
receivables and other assets, net | |
| 19,342 | | |
| 3,079 | |
| Total
assets of disposal group held for sale | |
| 55,026 | | |
| 4,148 | |
| Liabilities directly
associated with assets classified as held for sale | |
| | | |
| | |
| Borrowings | |
| (10,000 | ) | |
| — | |
| Trade payables | |
| (37,666 | ) | |
| (6,912 | ) |
| Other payables and
accruals | |
| (2,920 | ) | |
| (991 | ) |
| Total
liabilities of disposal group held for sale | |
| (50,586 | ) | |
| (7,903 | ) |
|