Company: TGE
Filing Date: 2025-05-06
Form Type: F-4/A
Source: 0001213900-25-040058
Chunk: 471

Company: Generation Essentials Group
Filing Date: 2025-05-06
Form: F-4/A
Chunk 471
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4 2.APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS 2.1BASIS OF PRESENTATION The consolidated financial statements include the financial statements of certain subsidiaries of AMTD Group arising from the reorganization, and also include the results of operations of the investments business, which have been prepared on a carve -outbasis. Such reorganization of entities is under common control, which is outside of the scope of IFRS 3 Business Combinations, as such entities were under common control and managed by AMTD Group. The Group prepared the consolidated financial statements to capture the stand -alonemedia and entertainment services, hotel operation, hospitality and VIP services and strategic investment business, which have operated under AMTD Group during the years ended December 31, 2022, 2023 and 2024. The consolidated financial statements do not represent the financial position and results of operations of a legal entity but rather a combination of entities and business under common control of AMTD Group that reflect significant assumptions and allocations, including the following: •The assets and liabilities of the entities subject to the restructuring were reflected at their carrying amounts in AMTD Group. No adjustments were made to reflect fair values or recognize any new assets or liabilities that would otherwise be done under the acquisition method. •Any difference between transferred and the aggregate book value of the assets and liabilities of the entities subject to the reorganization was reflected as an adjustment to equity. •Include all revenues, expenses, assets and liabilities attributed to the media and entertainment services, hotel operation, hospitality and VIP services and strategic investment business as part of the reorganization; •Under the pooling of interest method, each of the entities subject to the reorganization is accounted for as if it had always been part of the Group; and •All intercompany transactions and balances have been eliminated in combination. The preparation of consolidated financial statements in conformity with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgement in the process of applying the respective accounting policies. The areas involving a higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in note 2.2. The reorganization of the Group is completed in November 2024 and the Company has become the holding company of the companies now comprising the Group since then. The consolidated statements of profit or loss and other comprehensive income, consolidated statements of changes in equity and consolidated statements of cash flows have been prepared to present the results, changes in equity and cash flows