Zheng Quan Zhi Xing·2025-08-29 16:52Core Viewpoint - Jiangxi Copper Company announced a total asset impairment provision of RMB 943.24 million for the first half of 2025, reflecting a need to adjust the asset values in accordance with accounting standards and market conditions [1][3]. Summary by Sections Asset Impairment Provision Details - The company has made provisions for various asset categories, including: - Inventory impairment provision: RMB 273.68 million - Fixed asset impairment provision: RMB 159.13 million - Construction in progress impairment provision: RMB 35.29 million - Investment property impairment provision: RMB 1.08 million - Other non-current asset impairment provision: RMB 313.46 million - Credit impairment loss: RMB 160.60 million - Total impairment provision: RMB 943.24 million [1][2][3]. Inventory Impairment - The company measures inventory at the lower of cost and net realizable value, leading to an inventory impairment provision of RMB 273.68 million, which includes a reversal of RMB 2.53 million from a subsidiary [1][2]. Fixed Assets and Other Impairments - Fixed assets were fully impaired due to a lack of use value, resulting in a provision of RMB 159.13 million. Other non-current assets and construction in progress were also impaired due to low expected future use, with provisions of RMB 313.46 million and RMB 35.29 million, respectively [2][3]. Credit Impairment Loss - The total credit impairment provision amounted to RMB 160.60 million, which includes bad debt provisions for accounts receivable and other receivables, with specific amounts detailed for each category [3]. Impact on Financial Statements - The total asset impairment provision of RMB 943.24 million will impact the company's net profit attributable to the parent company by approximately RMB 785.86 million for the first half of 2025 [3]. Board and Committee Opinions - The independent audit committee and the board of directors have reviewed and approved the asset impairment provisions, confirming compliance with accounting standards and reflecting the company's actual asset situation [4].