Securities Code: 003035 Securities Abbreviation: Nanwang Energy Announcement No.: 2026-009
Nanfang Power Grid Digital Energy Co., Ltd. Announcement on Provision for Asset Impairment Losses for 2025
The Company and the Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and do not contain any false representations, misleading statements, or material omissions.
On March 26, 2026, Nanfang Power Grid Digital Energy Co., Ltd. (hereinafter referred to as the "Company") held its third meeting of the third session of the Board of Directors, which reviewed and approved the "Proposal on the Provision for Asset Impairment Losses for 2025 of Nanfang Power Grid Digital Energy Co., Ltd.". In accordance with the "Shenzhen Stock Exchange Stock Listing Rules," the "Articles of Association," and other relevant regulations, this provision for asset impairment losses does not require submission to the shareholders' meeting for approval. The specific details are hereby announced as follows:
I. Overview of the Provision for Asset Impairment Losses
(I) Reason for the Provision for Asset Impairment Losses
In accordance with the "Enterprise Accounting Standards," "Supervision Risk Alert No. 8 - Goodwill Impairment," and the "Shenzhen Stock Exchange Stock Listing Rules," 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 of various assets (including subsidiaries within the scope of consolidated financial statements). It was determined that some assets showed signs of impairment, requiring the provision for impairment losses.
(II) Scope and Total Amount of Assets for Provision for Asset Impairment Losses
The scope of assets for this provision for asset impairment losses includes receivables (including accounts receivable and other receivables), contract assets, fixed assets, and construction in progress. The cumulative provision for impairment losses for related assets within the scope of consolidated financial statements in 2025 totaled RMB 398,741,764.41, of which RMB 89,720,854.23 was provided in the first three quarters of 2025, and RMB 309,020,910.18 was provided in the fourth quarter. The specific details are as follows:
| Project | First Three Quarters of 2025 (RMB) | Fourth Quarter of 2025 (RMB) | Full Year 2025 (RMB) |
|---|---|---|---|
| Total | 89,720,854.23 | 309,020,910.18 | 398,741,764.41 |
| Provision for Bad Debts for Receivables | 89,357,314.43 | 201,092,004.68 | 290,449,319.11 |
| Of which: Provision for Bad Debts for Accounts Receivable | 49,340,585.17 | 197,005,613.67 | 246,346,198.84 |
| Project | First Three Quarters of 2025 (RMB) | Fourth Quarter of 2025 (RMB) | Full Year 2025 (RMB) |
|---|---|---|---|
| Provision for Bad Debts for Other Receivables | 40,016,729.26 | 4,086,391.01 | 44,103,120.27 |
| Provision for Contract Asset Impairment | 363,539.80 | -107,257.50 | 256,282.30 |
| Provision for Fixed Asset Impairment | - | 84,442,044.51 | 84,442,044.51 |
| Provision for Construction in Progress Impairment | - | 23,594,118.49 | 23,594,118.49 |
(III) Reporting Period Included
The reporting period for the provision for asset impairment losses is from January 1, 2025, to December 31, 2025.
II. Specific Explanation of the Provision for Asset Impairment Losses
(I) Explanation of the Provision for Bad Debts for Receivables