CTGR(SH:600905) Zheng Quan Zhi Xing·2025-06-25 16:59Group 1 - The core point of the announcement is the change in accounting estimate regarding the functional currency of the wholly-owned overseas subsidiary, China Three Gorges New Energy (Hong Kong) Co., Ltd., from Hong Kong Dollar (HKD) to Euro (EUR) effective from July 1, 2025 [1] - The reason for the change is to better reflect the company's financial status and operating results, as the subsidiary primarily conducts its business transactions in Euro, and using HKD as the functional currency could lead to significant foreign exchange gains or losses due to currency fluctuations [1] - The change will not have a significant impact on the company's financial status and operating results for the year ending June 30, 2025, as it will be applied prospectively without retrospective adjustment [1] Group 2 - The audit committee reviewed and approved the proposal to change the functional currency, stating that it complies with the relevant accounting standards [1] - The board of directors also agreed to the change, emphasizing the need for an objective and fair representation of the company's financial condition and performance [1]