Securities Code: 300698 Securities Abbreviation: Wanma Technology Announcement No.: 2026-024
Wanma Technology Co., Ltd. Announcement on Provision for Asset Impairment Losses for 2025
The Company and all members of the Board of Directors guarantee the content of the information disclosed is true, accurate, and complete, and that there are no false records, misleading statements, or material omissions.
Wanma Technology Co., Ltd. (hereinafter referred to as the "Company") held the Ninth Meeting of the Fourth Board of Directors on April 20, 2026, and approved the "Proposal on the Provision for Asset Impairment Losses for 2025." The relevant situation is hereby announced as follows:
I. Overview of the Provision for Asset Impairment Losses for the Current Period
The Company's provision for asset impairment losses is made in accordance with the "Accounting Standards for Business Enterprises" and the relevant provisions of the Company's accounting policies. The Company conducted a comprehensive review of assets such as accounts receivable, other receivables, inventory, fixed assets, and other non-current assets at the end of 2025. The recoverability of receivables and the net realizable value of various inventories were fully assessed and analyzed. To accurately reflect the Company's financial status, based on the principle of prudence, the Company needs to provide for impairment losses on the above assets that may occur. After a comprehensive review and impairment test of assets with potential impairment indicators at the end of 2025, the Company has provided for asset impairment losses totaling RMB 15,038,667.66 for 2025, as detailed in the table below:
| Item | Amount Provided in Current Period |
|---|---|
| I. Credit Impairment Loss | 7,627,752.19 |
| Of which: Bad debt loss on notes receivable | -14,152.77 |
| Bad debt loss on accounts receivable | 6,508,554.55 |
| Bad debt loss on other receivables | 1,133,350.41 |
| II. Asset Impairment Loss | 7,410,915.47 |
| Of which: Inventory price decline loss | 5,373,742.00 |
| Contract asset impairment loss | -118,799.97 |
| Fixed asset impairment loss | 2,155,973.44 |
| Total | 15,038,667.66 |
II. Specific Explanation of Asset Impairment Provision for the Current Period
(I) Method for Provisioning for Notes Receivable, Accounts Receivable, and Other Assets
The Company applies impairment treatment and recognizes loss provisions for financial assets measured at amortized cost and contract assets based on expected credit loss.
Expected credit loss refers to the probability-weighted average of the financial instrument's credit loss, weighted by the risk of default. Credit loss refers to the difference between all contractual cash flows receivable by the Company and all contractual cash flows expected to be collected, discounted at the original effective interest rate, which is the present value of the total cash shortfall. When considering the measurement method for expected credit loss, the Company takes into account the following factors: ① the probability-weighted average amount of a series of possible outcomes; ② the time value of money; ③ information that is reasonable and well-founded and can be obtained without undue cost or effort at the balance sheet date regarding past events, current conditions, and future economic conditions.