阳光能源(00757) - 2025 - 年度业绩

Supplementary Announcement Overview This section provides an overview of the supplementary announcement, detailing its purpose and the context of the property, plant, and equipment impairment provision Purpose and Background of the Announcement This announcement supplements the 2024 annual report, providing additional details on the RMB 107.932 million impairment provision for property, plant, and equipment - This document is a supplementary announcement to the annual report for the year ended December 31, 2024[2] - The announcement aims to provide additional information on the impairment provision for property, plant, and equipment[3] FY2024 Impairment Provision for Property, Plant, and Equipment | Metric | Amount (RMB) | | :--- | :--- | | Impairment Provision for Property, Plant, and Equipment (2024) | 107,932,000 | Details of Impairment Provision for Property, Plant, and Equipment This section details the impairment provision for property, plant, and equipment, including the reasons for impairment, valuation methods, and independent appraiser information Analysis of Impairment Reasons The impairment of the Group's photovoltaic module production equipment is primarily due to rapid changes in the PV industry in 2024, leading to technological obsolescence, decreased market demand, and production plan adjustments - The operating losses and temporary idle status of the subject assets are mainly due to rapid and significant changes in the photovoltaic industry market conditions and technology in 2024[4] Technological Obsolescence The subject assets, designed for older solar modules, are technically obsolete as they cannot be upgraded to produce current mainstream high-efficiency N-type modules due to fundamental differences in manufacturing processes - The subject assets are production lines specifically designed for older, outdated solar modules[7] - In 2024, industry market preference rapidly shifted towards more efficient, larger N-type modules[7] - Due to fundamental differences in manufacturing processes and equipment specifications, the subject assets cannot be upgraded to produce N-type modules, rendering them technically obsolete[7] Decreased Market Demand Market shift to N-type modules caused a sharp decline in demand and prices for smaller, outdated modules produced by the subject assets, making their continued operation economically unfeasible - The market shift to N-type modules led to a sharp and significant decline in market demand and selling prices for the smaller, outdated modules produced by the subject assets[7] - The continued operation of these production lines is no longer economically viable[7] Changes in Production Plan The Group revised its production plan to focus resources on N-type module production, resulting in the shutdown and temporary idling of obsolete production lines, which triggered the impairment assessment - The Group has revised its production plan to concentrate resources on N-type module production equipment[7] - Obsolete production lines have been shut down, leading to temporary idling of equipment and triggering an impairment assessment[7] Independent Valuer and Valuation Methodology The impairment assessment for the subject assets used the fair value less costs of disposal method, based on a market approach valuation performed by an independent Chinese qualified valuer, Jinxin Asset Appraisal Firm - The impairment assessment for the subject assets adopted the fair value less costs of disposal method[8][11] - Fair value was assessed using the market approach[8] Independent Valuer's Identity and Qualifications The valuation of photovoltaic module production equipment was conducted by Jinxin Asset Appraisal Firm (General Partnership), a Chinese qualified valuer whose registered asset appraisers confirmed independence from the Company and its associates - The valuation was conducted by Jinxin Asset Appraisal Firm (General Partnership)[6] - The valuer is a Chinese qualified valuer, with the report prepared and signed by registered asset appraisers[6] - The valuer confirmed independence from the Company and its associates, holding no interests[6] Valuation Input Data, Basis, and Assumptions Valuation inputs primarily included quotes and recent transaction prices for similar used PV production equipment in China, adjusted by a 30% to 34% premium to reflect differences, resulting in a recoverable amount between 0.5% and 20% of original cost - Primary input data included quotes and recent transaction prices for identical or similar used photovoltaic production equipment in China, obtained from second-hand equipment dealers[10] - The valuation was performed based on the assets' condition and status as of the valuation date, December 31, 2024[10] - Adjustments were made to the quotes (premium rates typically ranging from 30% to 34%) to account for differences between reference assets and subject assets[10] Recoverable Amount as Percentage of Original Cost for Subject Assets | Metric | Percentage Range | | :--- | :--- | | Recoverable Amount as Percentage of Original Cost | 0.5% to 20% | Reasons for Adopting Market Approach The market approach was adopted because the subject assets no longer constitute a cash-generating unit, are not expected to generate future operating cash inflows, and their primary economic benefit is their sale or scrap value - The subject assets no longer constitute a cash-generating unit and are not expected to generate any operating cash inflows in the future[14] - The primary economic benefit derivable from the assets is their sale or scrap value[14] - The market approach provides the most direct and reliable estimate of fair value less costs of disposal for the assets in their current condition by referencing observable transaction prices of similar assets[14] Board of Directors Information This section provides information regarding the Board of Directors, including the announcement's effect and a list of current board members Effectiveness of Announcement and Board Members This supplementary information should be read in conjunction with the annual report and does not affect other information contained therein, concluding with a list of the Company's current Board of Directors - The supplementary information should be read in conjunction with the annual report and does not affect other information contained therein[12] - The announcement lists the executive directors (Mr. Tan Xin, Mr. Wang Junze) and independent non-executive directors (Dr. Wang Yongquan, Ms. Zhong Weiheng, Ms. Tan Ying)[13]