FFEC(SH:600203) Shang Hai Zheng Quan Bao·2025-10-27 22:48Core Viewpoint - The company, Fujian Furi Electronics Co., Ltd., has announced its third-quarter report for 2025, detailing financial performance and decisions made during the board meeting held on October 27, 2025 [10][35]. Financial Data - The third-quarter financial report is unaudited, covering the period from January to September 2025 [3][7]. - The company reported a total of 4,322.06 million RMB in impairment provisions for the first nine months of 2025, which includes 1,323.64 million RMB in credit impairment losses and 2,998.42 million RMB in asset impairment losses [36][40]. Shareholder Information - The board meeting was attended by all nine directors, and all resolutions were passed unanimously [9][33]. - The company has a total of 38.4332 billion RMB in external guarantees, with 37.9332 billion RMB provided to subsidiaries [34]. Board Meeting Resolutions - The board approved the third-quarter report with a unanimous vote [10]. - The company will continue to provide guarantees for its subsidiaries, including a 5,000 million RMB credit facility for Shenzhen Zhongnuo Communications Co., Ltd. and 1,000 million RMB for Dongguan Furi Yuanlei Technology Co., Ltd. [20][21]. - The board authorized the chairman to approve a borrowing limit of up to 8.23 billion RMB for 2026 for its subsidiaries [13]. - The board also approved the appointment of Huaxing Accounting Firm for the 2025 annual financial report audit [12]. Impairment Provisions - The company has conducted impairment tests on its assets as of September 30, 2025, resulting in significant provisions to reflect its financial status accurately [36][40]. - The impairment losses are primarily due to overdue receivables and inventory that no longer meets market demands [37][39]. Guarantee Necessity and Reasonableness - The guarantees provided to subsidiaries are deemed necessary to support their business development and financing needs, aligning with the company's overall interests and strategic goals [32]. - The board believes that the risks associated with these guarantees are manageable and do not harm the interests of the company and its shareholders [32][33].