Securities Code: 300390 Securities Abbreviation: Tianhua New Energy Announcement No.: 2026-016
Suzhou Tianhua New Energy Technology Co., Ltd. Announcement on Provision for Asset Impairment in 2025
The Company and all members of the Board of Directors guarantee the authenticity, accuracy, and completeness of the disclosed information, and that there are no false records, misleading statements, or material omissions.
Suzhou Tianhua New Energy Technology Co., Ltd. (hereinafter referred to as the "Company") held the third meeting of the seventh Board of Directors on March 19, 2026, and reviewed and approved the "Proposal on Provision for Asset Impairment in 2025". In accordance with the "Shenzhen Stock Exchange GEM Stock Listing Rules," "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 2 - Standardized Operation of GEM Listed Companies," and other relevant laws and regulations, the details of the current provision for asset impairment are hereby announced as follows:
I. Provision for Asset Impairment
(I) Reason for Provision for Asset Impairment
To accurately reflect the Company's financial position and asset value, in accordance with the "Enterprise Accounting Standards" and the Company's accounting policies, the Company conducted a comprehensive review of various assets within the consolidated financial statements as of December 31, 2025, including inventory, accounts receivable, long-term equity investments, fixed assets, construction in progress, intangible assets, and goodwill. A thorough assessment and analysis were performed on assets with potential impairment indicators, and impairment tests were conducted. Based on the impairment test results and the principle of prudence, the management has made provisions for assets that may incur impairment losses.
(II) Scope and Amount of Provision for Asset Impairment
The asset items for which the Company has made provisions for asset impairment within the consolidated financial statements for 2025 mainly include bad debt loss, inventory write-down loss, long-term equity investment impairment loss, fixed asset impairment loss, and contract asset impairment loss.
According to the impairment test results, the Company has made provisions for various asset impairments totaling RMB 168,570,933.33 in 2025. The details of the provision for asset impairment in 2025 are as follows:
(Unit: RMB)
| Item | Amount Incurred This Period |
|---|---|
| Provision for Bad Debts | 122,993,293.71 |
| Provision for Inventory Write-down | 26,970,196.20 |
| Provision for Long-term Equity Investment Impairment | 14,376,033.94 |
| Provision for Fixed Asset Impairment | 4,429,201.04 |
| Provision for Contract Asset Impairment | -197,791.56 |
| Total | 168,570,933.33 |
(III) Confirmation Standards and Methods for Provision for Asset Impairment
- In 2025, the Company provided RMB 122,993,293.71 for bad debts, including: RMB 25,718,850.32 for accounts receivable, which includes provisions for individually significant amounts assessed separately, provisions for combinations based on credit risk characteristics, and provisions for individually insignificant amounts assessed separately; RMB 67,823.78 for notes receivable, which are commercial acceptance bills; and RMB 97,206,619.61 for other receivables, which are based on combinations assessed by credit risk characteristics. The confirmation standards and methods for provision for bad debts for receivables are as follows:
(1) Receivables with Individually Significant Amounts Assessed Separately