Stock Code: 002343 Stock Abbreviation: Cewen Media Announcement No.: 2026-018
Cewen Media Co., Ltd. Announcement on Provision for Asset Impairment for the First Quarter of 2026
The Company and all members of the Board of Directors guarantee the information disclosure is true, accurate, and complete, with no false records, misleading statements, or major omissions.
Cewen Media Co., Ltd. (hereinafter referred to as the "Company") held the 34th meeting of the 9th Board of Directors on April 29, 2026, and reviewed and approved the "Proposal on Provision for Asset Impairment for the First Quarter of 2026". The details of the Company's provision for asset impairment for this period are as follows:
I. Overview of the Provision for Asset Impairment
(I) Reasons for the Provision for Asset Impairment
To accurately reflect the Company's financial position, asset value, and operating results as of the end of the first quarter of 2026, in accordance with the "Accounting Standards for Business Enterprises," the "Shenzhen Stock Exchange Stock Listing Rules," and the Company's relevant accounting policies, based on the principle of prudence, the Company and its consolidated subsidiaries conducted a comprehensive inspection and impairment test on assets such as fixed assets, intangible assets, long-term equity investments, inventory, accounts receivable, and other receivables. A provision for asset impairment was made for relevant asset items within the scope of the consolidated financial statements as of March 31, 2026.