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Measure brand value to define business strategy

商標 / 品牌評估Brand Valuation

GCA Professional Services GroupRoom 2703 - 08, 27th Floor, Shui On Centre,

6-8 Harbour Road, Wanchai, Hong Kong+852 2511 6868

info@gca-group.com

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商標 / 品牌評估背景及目的Brand Valuation Background and Purposes

Intangible assets are becoming more important to business operations in the past 20 years. It is now widespread acceptance that brand is one of the intangible assets that plays an important role in generating and sustaining financial performance of businesses. Brand value has become more significant in financial reports.

Why are brands valuable?Branding is the process of transforming functional assets into relationship assets by providing the basis for a psychological connection between the brand and the customer. This ability to provide a product, a service or a company with an emotional impact over and above its functional value is an important source of value creation. It would be wise for a well-planned brand investment to comprise a brand valuation to justify investment efficiency. Nowadays, brands play a significant role in financial performance of business and there is an increasing need to assign values to these assets.

Reasons for valuing brandFrom a financial perspective

• Compliance with accounting standards • Assisting mergers and acquisitions and corporate restructuring • Intellectual property management• Strengthening balance sheets and company accounts• Increasing shareholder confidence which consequently improves

the share price• Providing financial transparency and solid proof to donor and

contributors for non-profit organisation

From a marketing perspective• Brand management and strategic development• Enhancing management communications• Benchmarking of competitors• Creating a brand-centric culture• Establishing royalty rates for licensing arrangements

From a legal perspective• Identifying value of intangible asset in an ownership dispute• Securing funds by value of intangible asset in insolvency situation• Evaluating economic damage in trademark infringement• Licensing claim• Partnership dissolution

Related rules and accounting standards• IVSC - International Valuation Standards• IAS 38 - Intangible Assets • IAS 36 - Impairment of Assets• IFRS 3(R) - Business Combination

在過去的 20 年裡，無形資產正在對企業運營起著越來越重要的作用。現今，人們已廣泛接受這樣一個理念：品牌已經成為企業一項重要的無形資產，並在締造和維持優異的財務業績方面起着舉足輕重的作用。品牌價值在財務報表中變得越來越重要。

品牌為何有價值？品牌創造，就是通過在客戶與品牌之間建立一種心理聯繫來實現把功能性資產轉換成關聯式資產的過程。這種心理聯繫的建立，使得品牌背後的某種產品或服務，或甚至整家公司的形象都能夠給客戶一種強烈的心理衝擊，並使它們在客戶心目中早已超出其使用價值。這就是品牌價值創造的一個重要來源。一項精心策劃的品牌投資，應當包括對品牌進行價值評估，以驗證其投資是否有效。如今，品牌已經在創造企業優異的財務業績方面發揮了非常重要的作用，並且人們越來越需要將品牌資產賦予價值。

品牌評估的理由從財務的角度

• 遵守會計準則

• 協助併購以及企業重組

• 知識產權管理

• 加強公司的財務狀況

• 增加股東信心，從而提高股票價格

• 為非牟利機構的捐助者和貢獻者提供財務的透明度以及可靠的證據

從行銷的角度

• 品牌管理與策略發展

• 加強管理與溝通

• 競爭對手的標杆管理

• 創建以品牌為中心的文化

• 建立特許經營中的權利金費率

從法律的角度

• 確定權益糾紛中的無形資產價值

• 在破產情況下，通過識別無形資產價值來確保資金

• 在商標侵權案件中評估經濟損失

• 許可權索賠

• 合夥解散

相關法規與會計準則• IVSC - 國際評估準則

• IAS 38 - 無形資產

• IAS 36 - 資產減值

• IFRS 3(R) - 企業併購

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商標 / 品牌評估方法Brand Valuation Methodology

GCA’s Brand Valuation team is comprised of professionals with experience in business and intangible assets valuation. We work in accordance with standard accounting and legal practices and adopt valuation methodologies that are recognised by businesses, academic and regulatory bodies. For our clients, these are essential for any form of investment decisions.

We have considerable experience in addressing the following: • Accounting and tax regulation• Transaction support• Financing and collateral • Strategic decision making

Valuation approachesThere are various valuation methodologies in measuring value of a brand. Income approach, which is based on assessment of future economic benefits, is the most common approach in valuing brands. The most common methodologies are the relief from royalty method and the price premium method.

Relief from royalty method• Based on the assumption that a company would need to pay

royalty fee to the rightful owner of the intangible assets (i.e. the brand)

• Assess brand value based on estimates of future cash flow. Financial status of business over a specif ic time period is reflected in cash flow figures.

• Project future earnings and expenditure attached to the asset, and also discount them to account for the time value of money.

Price premium method• Measure the brand’s incremental profits by comparing its product

price with that of an equivalent unbranded product.• Brand value is estimated as the present value of the stream of

the after-tax profits attributable to the brand.

評估方法 衡量品牌價值的評估方法有很多種類。其中，以未來經濟利益為基礎計算資產價值的收益法是最常用的品牌評估方法。在品牌價值評估的收益法當中，最常用的是權利金節省法和價格溢價法。

權利金節省法

• 假設該公司需要向無形資產（例如：品牌）的合法擁有者支付權利金。

• 本方法是基於對未來現金流的估計而評估品牌價值的。現金流量的資料是反映企業某一時期財務狀況是否良好的信號。

• 預測歸屬於該品牌的未來收入與支出，並將它們折現以反映其時間價值。

價格溢價法

• 此方法通過對比一個相同但沒有標明的品牌的產品的價格，從而得出標的品牌的增量利潤。

• 此方法所得出的品牌價值，即未來歸因於有標明的品牌的稅後利潤流的折現值。

Our brand valuation procedures 我們的評估流程

1. Brand strength and market analysis

　●　Market and industry analysis　●　Evaluating brand strength and

competitiveness　●　Other factors affecting the brand,

including political, economic, social and technological factors

1. 品牌優勢與市場分析

　●　市場與行業分析　●　評估品牌的優勢與競爭力　●　影響品牌其他因素，包括政治、經

濟、社會以及技術方面的因素

3. Brand valuation

　●　Financial performance analysis　●　Integration of financial and

market data　●　Estimation of brand useful life　●　Assumptions including royalty

rates and discount rates　●　Reporting and presentation

3. 評估品牌的價值

　●　財務業績的分析　●　財務資料與市場資料的整合　●　估計有標明的品牌的使用壽命　●　建立權利金費率與折現率的假設　●　報告與演示

2. 評估方法的選用

　●　理解評估的目的　●　評估外部與內部資訊的可用性

2. Selection of valuation methodology

　●　Understanding the purpose of valuation

　●　Assessing availability of external and internal information

漢華的品牌評估團隊在企業價值及其他無形資產評估方面擁有豐富的經驗。我們採用會計與法律界所慣用的做法，所選用的評估方法更是經行業企業、學術界與監管機構所認可的。這對於我們的客戶所進行的任何投資與行銷決策都是至關重要的。

我們在以下幾方面擁有豐富的經驗：

• 財務與稅收管制

• 交易支援

• 融資與擔保

• 策略決策

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商標 / 品牌評估成功案例Brand Valuation Job Reference

和興白花油藥廠有限公司 (00239.HK) Pak Fah Yeow International Limited

三林環球有限公司 (03938.HK) Samling Global Limited

越秀投資有限公司 (00123.HK)Yue Xiu Enterprises (Holdings) Limited

創維數碼控股有限公司 (00751.HK)Skyworth Digital Holdings Limited

富麗花•譜控股有限公司 (08176.HK)Blu Spa Holdings Limited

中軟國際有限公司 (00354.HK)Chinasoft International Limited

浚鑫太陽能科技有限公司 (JHL.LON)Jetion Solar Holdings Limited

澳門投資控股有限公司 (02362.HK)Macau Investment Holdings limited

飛毛腿集團有限公司 (01399.HK)Scud Group Limited

白花油White Flower Pak Fa Yeow

巴洛克Baroque

金頁牌

創維Skyworth

富麗花Blu Spa

Japan Powerise

Jetion

Cheng Ming Ming

Chaolitong

醫藥Pharmaceutical

木地板Wood flooring

新聞紙Newsprint paper

移動電話Mobile phone

化妝品Cosmetics

軟體Software

半導體Semi-conductor

化妝品Cosmetics

電池Battery

三林環球有限公司 (03938.HK) Samling Global Limited

木地板Wood flooring

生活家Elegant Living

For more information about our Brand Valuation services, please contact:如有任何關於商標 / 品牌評估服務的查詢，歡迎聯絡 :

DisclaimerGCA Professional Services Group shall not accept any responsibility for any loss or damage arising from the use of the information within this service brochure. Materials in the service brochure are distributed without responsibility on the part of GCA Professional Services Group for the loss occasioned by any person acting or refraining from acting as a result of any view expressed therein.

免責聲明漢華專業服務集團將不承擔因使用本服務簡介內信息而造成任何損失的責任。同時，漢華專業服務集團亦不承擔因執行或不執行本服務簡介所述觀點而造成任何損失的責任。

T: +852 2511 6868

E: info@gca-group.com