The Group measures the loss allowance for trade receivables at an amount equal to lifetime ECLs. The expected credit losses on trade receivables are estimated using a provision matrix by reference to past default experience of the debtor and an analysis of the debtor’s current financial position, adjusted for general economic conditions of the industry in which the debtors operate and an assessment of both the current as well as the forecast direction of economic conditions at each balance sheet date. As the Group’s historical credit loss experience shows significantly different loss patterns for different customer groups, the provision matrix for expected credit loss allowance based on trade receivables due status is further distinguished according to the Group’s different customer base.

In April 2024, the Group’s subsidiary amended its accounts receivable factoring agreement with banks, with a credit facility amounting to

thousand. Pursuant to the agreements, banks have the right to request the Group’s subsidiary to pay the unsettled balance if these trade receivables are not recovered at maturity. As the Group’s subsidiary does not transfer substantially all risks and rewards relating to these trade receivables, it continues to recognize the full carrying amounts of these trade receivables and treats them as collateral for borrowings. Refer to Notes 20 and 36. However, after considering its working capital requirements, the Group’s subsidiary terminated its accounts receivable factoring agreement with the banks in August 2025.