汇洁股份：understance品牌终止运营

Core Viewpoint - The company has decided to terminate the operation of the understance brand due to the uncertainty of tariff policies between China and the US, as well as between the US and Canada, and will gradually clear its inventory [1] Group 1: Financial Impact - As of November 30, 2025, the book value of the understance brand inventory is approximately 10.49 million Canadian dollars (unaudited) [1] - It is expected that an inventory impairment provision of about 18.1 million RMB will need to be recognized in the fourth quarter of 2025 [1] - The company has reached an agreement to terminate the lease for its North American warehouse, with the warehouse scheduled to be vacated by September 30, 2026, incurring a lease termination fee of approximately 3 million Canadian dollars [1] Group 2: One-time Losses - The termination of the North American warehouse lease is expected to result in a one-time loss of approximately 15.92 million RMB for the company in 2025, considering lease termination fees and deposit losses [1]