Shenzhen Tianwei Communication Co., Ltd. Announcement on Accruing Asset Impairment Provisions for 2025
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 significant omissions.
Shenzhen Tianwei Communication Co., Ltd. (hereinafter referred to as the "Company") held the 14th meeting of the 9th Board of Directors on April 20, 2026, and reviewed and approved the "Proposal on Accruing Asset Impairment Provisions." The Company has accrued impairment provisions for certain assets that may be impaired. The specific situation of the asset impairment provisions accrued for 2025 is hereby announced as follows:
I. Overview of Accrued Impairment Provisions
(I) Reason for Accruing Impairment Provisions
According to the "Enterprise Accounting Standards," "Shenzhen Stock Exchange Stock Listing Rules," and the Company's accounting policies, the Company conducted a comprehensive review of all assets within the scope of the consolidated financial statements as of December 31, 2025, and accrued impairment provisions for certain assets that may be impaired.
(II) Scope and Total Amount of Accrued Impairment Provisions
The Company accrued a total of RMB 15,490.58 million for credit impairment and asset impairment provisions in 2025. Among them, credit impairment provisions amounted to RMB 421.21 million, and asset impairment provisions amounted to RMB 15,911.79 million. The details are as follows:
| Provision Item | 2025 Provision Amount (RMB million) |
|---|---|
| Credit Impairment Provisions | |
| Provision for bad debts of accounts receivable | -356.99 |
| Provision for bad debts of notes receivable | 7.17 |
| Provision for bad debts of other receivables | -71.39 |
| Subtotal | -421.21 |
| Asset Impairment Provisions | |
| Provision for inventory price decline | -34.91 |
| Provision for contract asset impairment | 2,521.58 |
| Provision for construction in progress impairment | -1.04 |
| Provision for fixed asset impairment | 13,426.16 |
| Subtotal | 15,911.79 |
| Total | 15,490.58 |
II. Specific Description of Accrued Impairment Provisions
(I) Credit Impairment Provisions
The Company accrues credit impairment provisions based on the nature of financial assets such as accounts receivable, notes receivable financing, notes receivable, other receivables, long-term receivables, accounts receivable factoring, and long-term receivables factoring, and customer credit risk characteristics, by assessing expected credit losses on a single-item and portfolio basis.
The Company accrued RMB 356.99 million for accounts receivable credit impairment provisions, RMB 7.17 million for notes receivable credit impairment provisions, and RMB 71.39 million for other receivables credit impairment provisions in 2025, totaling RMB 421.21 million for credit impairment provisions.