Securities Code: 000993 Securities Abbreviation: Mindong Electric Power Announcement No.: 2026-08 Fujian Mindong Electric Power Group Co., Ltd. Proposal on Accounting Policy Change The Company and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or major omissions. Special Reminder: This accounting policy change does not involve significant retrospective adjustments to previous years and will not have a major impact on the company's owner's equity, net profit, and other financial conditions and operating results.
I. Overview of the Accounting Policy Change
-
Main Content of the Accounting Policy Change On December 5, 2025, the Ministry of Finance issued the "Notice on Issuing 'Accounting Standards Interpretation No. 19'" (Cai Kuai [2025] No. 32), which stipulates that the accounting treatment for compensatory assets in business combinations not under common control, the accounting treatment for the disposal of subsidiaries acquired through business combinations under common control, the termination of recognition of financial liabilities settled by electronic payment systems, the assessment of contractual cash flow characteristics of financial assets and related disclosures, and the disclosure of equity instruments designated at fair value through other comprehensive income will be implemented from January 1, 2026. In accordance with the requirements of the above notice from the Ministry of Finance, the Company has made corresponding changes to its current accounting policies.
-
Date of Change The Ministry of Finance issued Interpretation No. 19 on December 5, 2025. The Company will implement the aforementioned regulations from January 1, 2026.
-
Accounting Policies Adopted Before the Change Before this accounting policy change, the Company implemented the "Basic Standards for Enterprise Accounting" and various specific accounting standards, application guidelines for enterprise accounting standards, interpretations of enterprise accounting standards, and other relevant regulations issued by the Ministry of Finance.
-
Accounting Policies Adopted After the Change After this accounting policy change, the Company will implement Interpretation No. 19 issued by the Ministry of Finance. Except for the aforementioned accounting policy change, the remaining unchanged parts will continue to implement the "Basic Standards for Enterprise Accounting" and various specific accounting standards, application guidelines for enterprise accounting standards, interpretations of enterprise accounting standards, and other relevant regulations issued by the Ministry of Finance.