Announcement by Suzhou Shiming Technology Co., Ltd. on Provision for Credit and Asset Impairment
Suzhou Shiming Technology Co., Ltd. (hereinafter referred to as "the Company" or "Shiming Technology") hereby announces the situation regarding the provision for impairment for the fiscal year 2025 in accordance with the "Shenzhen Stock Exchange GEM Listing Rules," "Shenzhen Stock Exchange Self-Regulatory Guidelines No. 2 for Listed Companies on the GEM," and other relevant laws and regulations.
I. Overview of the Provision for Credit and Asset Impairment
(1) Reasons for the Provision for Credit and Asset Impairment
In accordance with the "Enterprise Accounting Standards" and the Company's relevant accounting policies, based on the principle of prudence, the Company conducted a comprehensive review and impairment testing of assets including accounts receivable, other receivables, notes receivable, work in progress, inventory, and intangible assets as of the end of fiscal year 2025. It was determined that certain assets showed signs of impairment loss. Therefore, the Company made provisions for potential asset impairment losses.
(2) Scope and Amount of the Provision for Credit and Asset Impairment
After a thorough review and impairment testing of assets that may show signs of impairment as of December 31, 2025 (including inventory, receivables, notes receivable, other receivables, fixed assets, etc.), the total amount of provisions made is 7,342,497.01 yuan. The specific details are as follows:
| Category | Item | Provision Amount for the Period (yuan) |
|---|---|---|
| Credit Impairment Provision | Accounts Receivable Bad Debt Loss | -738,046.01 |
| Other Receivables Bad Debt Loss | -13,777.00 | |
| Asset Impairment Provision | Inventory Decline Loss and Contract Performance Cost Impairment Loss | 7,924,114.66 |
| Fixed Asset Impairment Loss | 170,205.36 | |
| Total | 7,342,497.01 |
The Company and all members of the Board of Directors guarantee that the content of this information disclosure is true, accurate, and complete, with no false records, misleading statements, or significant omissions.