Company: PLTYF
Filing Date: 2025-06-13
Form Type: POS AM
Source: 0001410578-25-001412
Chunk: 98

Company: Plastec Technologies, Ltd.
Filing Date: 2025-06-13
Form: POS AM
Chunk 98
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,431,918as of the date hereof.

2. Summary of Significant Accounting Policies Principles of consolidation The consolidated financial statements, prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”), include the assets, liabilities, revenues, expenses and cash flows of all subsidiaries. All significant intercompany balances, transactions and cash flows are eliminated on consolidation. Foreign currency translation The functional currency of the Company is United States Dollar. The functional currency of the subsidiaries is Hong Kong dollar. In the individual financial statements of the consolidated entities, foreign currency transactions are translated into the functional currency of the individual entity using the exchange rates prevailing at the dates of the transactions. At the reporting date, monetary assets and liabilities denominated in foreign currencies are translated at the foreign exchange rates prevailing at the reporting date. Foreign exchange gains and losses resulting from the settlement of such transactions and from the reporting date retranslation of monetary assets and liabilities are recognized in the consolidated statement of income. There were noforeign currency transaction change recorded during the years ended December 31, 2022, 2023 and 2024 respectively.

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PLASTEC TECHNOLOGIES, LTD. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Hong Kong dollars in thousands, except number of shares, per share data and unless otherwise stated)

2.Summary of Significant Accounting Policies - Continued

In the consolidated financial statements, all individual financial statements originally presented in a currency different from the Company’s reporting currency have been converted into Hong Kong dollars. Assets and liabilities have been translated into Hong Kong dollars at the closing rates at the reporting date. Income and expenses have been converted into the Hong Kong dollars at the exchange rates prevailing at the transaction dates, or at the average rates over the reporting period provided that the exchange rates do not fluctuate significantly. Any differences arising from this procedure have been recognized in other comprehensive income and accumulated separately in the shareholders’ equity.

Use of estimates

The preparation of consolidated financial statements in conformity with the US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The most significant estimates relate to allowances for doubtful accounts, useful lives of property, plant and equipment and contingencies. Actual results could differ from those estimates made by management.

Cash and cash equivalents

Cash and cash equivalents include cash at bank and in hand and demand deposits with banks