NBSS(SH:600884) Zheng Quan Zhi Xing·2025-08-29 10:25Meeting Overview - The 20th meeting of the 11th Board of Directors of Ningbo Shanshan Co., Ltd. was held in accordance with relevant laws and regulations [1] - The meeting was convened on August 29, 2025, with all 11 directors present [1] Resolutions Passed - The board approved the 2025 semi-annual report in full and summary form, with unanimous support (11 votes in favor, 0 against, 0 abstentions) [1] - The board also approved the proposal for asset impairment provisions for the first half of 2025, with unanimous support (11 votes in favor, 0 against, 0 abstentions) [2] Asset Impairment Details - The company conducted a comprehensive review of its assets as of June 30, 2025, resulting in a total impairment provision of CNY 151,654,781.11, which will reduce the total profit for the first half of 2025 by the same amount [2][3] - Breakdown of impairment provisions includes: - Inventory impairment: CNY 115,489,557.97 - Fixed asset impairment: CNY 9,189,327.93 - Total asset impairment: CNY 162,888,685.45 - Credit impairment adjustments: CNY -11,233,904.34 [3] Financial Health - The company stated that its operational management is normal and its financial condition is stable, indicating that the impairment provisions will not significantly impact normal operations [3] Regulatory Compliance - The board approved amendments to relevant company policies to align with the new Company Law and updated regulations from the China Securities Regulatory Commission and Shanghai Stock Exchange [4][5]