Northern Copper Industry Co., Ltd. (hereinafter referred to as "the Company") held the ninth meeting of the tenth board of directors on April 29, 2026, and approved the proposal on the provision for asset impairment for Q1 2026. The specific situation is announced as follows:
I. Overview of the Provision for Asset Impairment
(1) Reason for the Provision
To accurately reflect the Company's financial, asset, and operational status, the Company conducted impairment testing on various assets within the scope of the consolidated financial statements as of March 31, 2026, based on the principles of prudence and in accordance with relevant regulations such as the "Self-Regulatory Guidelines for Listed Companies on the Shenzhen Stock Exchange No. 1 - Standard Operation of Main Board Listed Companies" and "Enterprise Accounting Standards."
(2) Scope and Total Amount of the Provision
The total provision for asset impairment for Q1 2026 amounts to RMB 358.31 million, with details of the impairment losses as follows: