Notes to the financial statements Year ended 31 December 2024 6. SUBSIDIARIES (continued) During the year, an impairment loss amounting to $25.8 million (2023: $10.7 million) was recognised in respect of the Trust’s investment in its subsidiaries taking into consideration the fair value of the underlying properties held by these subsidiaries and the liabilities to be settled. The recoverable amounts were assessed based on the fair value less costs to sell estimated using the revalued net assets of the subsidiaries and categorised as Level 3 on the fair value hierarchy. (a) The details of the significant subsidiaries held by the Group are as follows: Name of subsidiaries Principal activities Place of incorporation/ business Effective equity held by the Group 2024 2023 % % CapitaRetail Beijing Wangjing Real Estate Co., Ltd.(1)(2) Property investment China 100 100 CapitaRetail Dragon Mall (Shanghai) Co., Ltd.(1)(2) Property investment China 100 100 CapitaRetail Beijing Shuangjing Real Estate Co., Ltd.(1)(2) ^ Property investment China – 100 CapitaRetail Beijing Xizhimen Real Estate Co., Ltd.(1)(2) Property investment China 100 100 Beijing Huakun Real Estate Management Co., Ltd.(1)(2) Property investment China 100 100 Guangzhou Starshine Properties Co., Ltd.(1)(2) Property investment China 100 100 Spicy (Chengdu) Limited(1)(2) Property investment China 100 100 Huhhot Xinkai Qingtou Real Estate Leasing Co., Ltd.(1)(2) Property investment China 100 100 Huhhot Nuohe Mule Corporate Management Co., Ltd.(1)(2) Property management China 100 100 CapitaMalls Hunan Commercial Property Co., Ltd.(2)(4) Property investment China 100 100 CapitaRetail Harbin Shangdu Real Estate Co., Ltd.(1)(2) Property investment China 100 100 Beijing Hualian Harbin Real Estate Development Co., Ltd.(1)(2) Property investment China 100 100 Ascendas Hangzhou Science & Technology Co., Ltd.(1)(2) Property investment China 80 80 Ascendas Hangzhou Data Processing Co., Ltd.(1)(2) Property investment China 80 80 Xi An Ascendas-Science Technology Investment Co., Ltd.(1)(2) Property investment China 80 80 Ascendas Xi An High-Tech Development Co., Ltd.(1)(2) Property investment China 100 100 122 CapitaLand China Trust
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