The company and all members of the board guarantee that the content of this information disclosure is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Overview of the Provision for Impairment Losses
According to the "Enterprise Accounting Standards" and the company's accounting policies, the company assessed whether there were signs of potential impairment for accounts receivable, other receivables, long-term receivables, inventory, fixed assets, and other assets as of March 31, 2026, and conducted impairment testing. The testing revealed that in Q1 2026, the company reversed credit impairment losses of 25.98 million yuan, with accounts receivable reversing 26.08 million yuan and other receivables providing an allowance of 100,000 yuan; the company also recognized asset impairment losses of 101.76 million yuan, all related to inventory. The impairment loss situation for Q1 2026 is as follows:
| Item | Beginning Balance | Current Year Provision | Other Changes | Write-offs | Ending Balance |
|---|---|---|---|---|---|
| Bad Debt Provision | 780,910 | -25,980 | - | -30 | 754,630 |
| Among them: Accounts Receivable | 779,630 | -26,080 | - | -29 | 753,260 |
| Other Receivables | 1,280 | 100 | - | -1 | 1,370 |
| Long-term Receivables | - | - | - | - | - |
| Inventory Provision | 328,860 | 101,760 | -105,540 | -40 | 324,680 |
| Fixed Assets Provision | 708,610 | - | - | -138 | 707,230 |
| Intangible Assets Provision | 12,100 | - | - | - | 12,100 |
| Goodwill Provision | 228,500 | - | - | -77 | 220,280 |
| Total | 1,842,440 | 757,800 | -105,540 | -285 | 1,809,830 |
The specific situation of the impairment losses recognized is as follows: As of the end of March 2026, the balance of the inventory provision was 324.68 million yuan, with the beginning balance at the start of 2026 being 328.86 million yuan. The provision for inventory impairment was 101.76 million yuan, with write-offs of 105.54 million yuan and other changes affecting -400,000 yuan. The provision for inventory impairment impacted the total profit for Q1 2026 by 3.78 million yuan.
| Asset Name | Ending Book Balance (10,000 yuan) | Net Realizable Value of Inventory (10,000 yuan) |
|---|---|---|
| Inventory | 5,285,080 | 4,960,400 |