DATANG RENEW (01798): Provision for Asset Impairment, Expected Reduction of Approximately RMB 147 Million in Net Profit Attributable to Parent for First Three Quarters

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Sep 30

DATANG RENEW (01798) announced that certain subsidiary projects no longer possess conditions for continued development, with construction progress at a standstill. The company estimates the recoverable amount of these assets to be zero and plans to make an impairment provision of approximately RMB 43.86 million for these stalled projects with no advancement value. Following testing of the expected recoverable amounts of receivables, the company identified recovery risks for certain receivables and plans to make an impairment provision of approximately RMB 103 million for receivables. The aforementioned asset impairment provisions are expected to result in a decrease of approximately RMB 147 million in the company's total profit for the nine months ended September 30, 2025, and a decrease of approximately RMB 147 million in net profit attributable to shareholders of the parent company for the nine months ended September 30, 2025.

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The company estimates the recoverable amount of these assets to be zero and plans to make an impairment provision of approximately RMB 43.86 million for these stalled projects with no advancement value. Following testing of the expected recoverable amounts of receivables, the company identified recovery risks for certain receivables and plans to make an impairment provision of approximately RMB 103 million for receivables. 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