Announcement on Provision for Impairment and Write-off of Assets for the Year 2025
Jiangsu Baoxin Technology Co., Ltd. (hereinafter referred to as "Baoxin Technology" or "the Company") has made provisions for impairment losses on assets that may occur as of December 31, 2025, in accordance with the "Enterprise Accounting Standards," the "Self-Regulatory Guidelines for Listed Companies No. 1 - Standard Operation of Main Board Listed Companies" issued by the Shenzhen Stock Exchange, and relevant accounting policies of the Company. The Company has also written off receivables that are expected to be unrecoverable. The relevant information is announced as follows:
Overview of the Provision for Impairment and Write-off of Assets
- Reasons for the Provision
Based on the principle of prudence, to accurately reflect the asset and financial status of Jiangsu Baoxin Technology Co., Ltd. as of December 31, 2025, the Company has conducted a thorough analysis and assessment of the realizability of various assets in the consolidated financial statements, including inventories, receivables, notes receivable, fixed assets, construction in progress, and goodwill. Impairment tests were performed on assets that may incur impairment losses, and provisions were made or reversed based on the results of these tests.