v3.25.1
Income taxes (Tables)
12 Months Ended
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,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

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,

 

 

 

2024

 

 

2023

 

 

2022

 

 

 

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,

 

 

 

2024

 

 

2023

 

 

 

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