ASR(SH:688220) Mei Ri Jing Ji Xin Wen·2025-06-13 08:49Core Viewpoint - Aojie Technology (688220.SH) reported a significant fair value loss due to its investment in Shending Technology, which went from a valuation of 81 million yuan at the end of 2023 to zero by the end of 2024, resulting in a fair value change loss of approximately 69.31 million yuan for the year [2][4][9]. Group 1: Fair Value Changes - Aojie Technology's fair value change loss for 2024 was -69.31 million yuan, primarily driven by the fair value change loss of -81.65 million yuan from external investments [4][9]. - The valuation of Shending Technology was adjusted to zero due to significant operational challenges and funding shortages, despite previous successful financing rounds [2][13]. - The company did not provide detailed explanations for the negative fair value changes in its 2024 annual report [5]. Group 2: Investment Details - Aojie Technology's investment in Shending Technology was made in October 2022, and the latter had seen a rise in valuation until mid-2024 [11][12]. - Shending Technology faced operational difficulties and funding issues by the end of 2024, which led to the drastic valuation drop [13][16]. - The company has indicated that it is currently operational and has addressed previous salary issues, although it acknowledges challenges in its business [3][16].