Core Viewpoint - The company, Siwei Technology (01202), plans to use its reserves to offset accumulated losses, which amount to RMB 272 million as of December 31, 2024, primarily due to slow business transformation and inadequate profitability from 2012 to 2021 [1][2] Group 1 - The board of directors will review a proposal to use reserves to cover losses during a meeting on November 27, 2025 [1] - As of December 31, 2024, the company has accumulated losses of RMB 272 million and reserves of RMB 8.7 million, with a capital reserve of RMB 571 million [1] - The accumulated losses are attributed to the company's inability to capitalize on opportunities in the optical communication industry due to slow business transformation and product iteration [1] Group 2 - The proposed plan will reduce the capital reserve to RMB 307.7 million and eliminate the accumulated losses [2] - Implementing this plan will help the company meet profit distribution conditions as per relevant laws and its articles of association, thereby enhancing investor returns and promoting high-quality development [2]
四威科技拟使用公积金弥补亏损