Announcement on Provision for Asset Impairment
Securities Code: 002291 Securities Abbreviation: Yaowang Technology Announcement No.: 2026-022
Guangdong Yaowang Technology Group Co., Ltd. Announcement on Provision for Asset Impairment
The Company and all members of the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed, and are free from any false representations, misleading statements, or material omissions.
Guangdong Yaowang Technology Group Co., Ltd. (hereinafter referred to as the "Company") held the 13th meeting of the 6th Board of Directors on April 26, 2026, and deliberated and passed the "Proposal on Provision for Asset Impairment."
The specific details of the Company's provision for asset impairment are hereby announced as follows:
I. Overview of the Provision for Asset Impairment
1. Reason for Provision for Asset Impairment
In accordance with the requirements of the "Accounting Standards for Business Enterprises," the "Rules Governing the Listing of Stocks on the Shenzhen Stock Exchange," and other relevant regulations, the Company, based on the principle of prudence, analyzed the assets within the scope of the consolidated financial statements and made provisions for impairment on assets showing signs of impairment.
2. Scope of Assets, Total Amount, and Reporting Period for the Provision for Asset Impairment
The asset items for which the Company is making provisions for asset impairment are accounts receivable, other receivables, prepayments, and inventories as of the end of 2025. The provision for asset impairment in 2025 is RMB 21,996.55 million. Of this, RMB 21,996.55 million was newly provided in the reporting period, accounting for 33.91% of the net profit attributable to shareholders of the listed company in the most recent audited 2025 fiscal year, which was RMB -64,870.01 million. The specific changes for the year are as follows: