Luzhou Xinglu Water Group Announces Changes in Fixed Asset Depreciation Estimates
Reuters
Aug 29
Luzhou <a href="https://laohu8.com/S/02281">Xinglu Water</a> Group Announces Changes in Fixed Asset Depreciation Estimates
**Luzhou Xinglu Water Group Co. Ltd. Announces Changes in Accounting Estimates** Luzhou Xinglu Water Group Co. Ltd., a joint stock company incorporated in the People's Republic of China, has announced changes to its accounting estimates. The board of directors has decided to alter the depreciation period for the company's fixed assets, such as water supply facilities. Previously set at 20 years, the depreciation period no longer accurately reflects the actual useful life of these assets, which have exceeded the estimated period. In an effort to better reflect the asset status and operating results, the company plans to adjust its accounting estimates to align with the depreciation policies of peer listed companies. The decision was approved during the company's 27th board meeting and the 10th session of the supervisory committee on August 29, 2025. The changes do not require approval from the general meeting of the company. The revised estimates aim to provide a more objective and fair representation of the company's finances.
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