Stock Code: 002434 Stock Abbreviation: Wanliyang Announcement No.: 2026-008
Zhejiang Wanliyang Co., Ltd.
Announcement on Provision for Bad Debt and Asset Impairment 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 major omissions.
Zhejiang Wanliyang Co., Ltd. (hereinafter referred to as the "Company") deliberated and approved the "Proposal on Provision for Bad Debt and Asset Impairment for 2025" at the 13th meeting of the Sixth Board of Directors held on April 20, 2026. The details are as follows:
I. Overview of the Provision for Impairment
(I) Reason for the Provision for Impairment
According to the "Accounting Standards for Enterprises" and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guidelines No. 1 - Standardized Operation of Main Board Listed Companies," to truthfully and accurately reflect the Company's financial position, asset value, and operating results as of December 31, 2025, based on the principle of prudence, the Company conducted a comprehensive inspection and impairment test on assets such as accounts receivable, notes receivable, other receivables, inventory, and goodwill. Corresponding impairment provisions have been made for assets within the scope of the consolidated financial statements as of December 31, 2025, where impairment losses may occur.
(II) Scope, Total Amount, and Reporting Period of the Provision for Impairment
The reporting period for which the provision for bad debt and asset impairment is made is from January 1, 2025, to December 31, 2025. The detailed breakdown of the provision for impairment for 2025 is as follows: