Summary of Key Points Core Viewpoint - The company has recognized asset impairment losses as part of its financial reporting, adhering to accounting standards and internal policies, reflecting a cautious approach to financial management [1][8]. Group 1: Asset Impairment Losses - The company conducted impairment testing on assets showing signs of impairment as of June 30, 2025, resulting in a total impairment loss of 18,090,400 CNY [1]. - The breakdown of impairment losses includes 1,835,100 CNY for accounts receivable and a total of 94,850 CNY for inventory and contract assets [1]. - The impairment loss on accounts receivable represents over 30% of the company's audited net profit for the previous fiscal year, exceeding 10,000,000 CNY [1]. Group 2: Impairment Testing Methodology - The company applies a cautious approach in determining expected credit losses for accounts receivable, utilizing historical loss experience and current economic conditions [2][3]. - Accounts receivable are categorized into groups based on credit risk characteristics, with specific methods for calculating expected credit losses for each group [3][4]. - The company also assesses inventory impairment based on the lower of cost and net realizable value, ensuring that any necessary adjustments are made to reflect current market conditions [5][6]. Group 3: Approval Process and Compliance - The impairment loss recognition process was executed in accordance with relevant accounting standards and company policies, without the need for board or shareholder approval [1][8]. - The company emphasizes that the impairment losses do not harm the interests of the company or its shareholders, aligning with prudent accounting practices [8].

Summary of Key Points Core Viewpoint - The financial data presented indicates significant intercompany transactions and receivables among related parties, highlighting the financial relationships and potential liquidity issues within the group of companies involved. Group 1: Related Party Transactions - The total receivables from related parties amount to 6,874.24 million, with a breakdown of 1,267.35 million in non-operating transactions and 1,048.37 million in operating transactions [4]. - Specific receivables include 388.14 million from Xinxiang Investment Group Co., Ltd. and 239.38 million from Weihui City New Investment Construction Development Co., Ltd., indicating substantial financial ties [2][3]. Group 2: Non-Operating and Operating Receivables - Non-operating receivables include significant amounts such as 1,500.00 million from Huaxia Tianxin (Beijing) Robot Co., Ltd. and 347.00 million from Henan Zhongwei Intelligent Robot Co., Ltd. [4]. - Operating receivables are also notable, with amounts like 94.68 million from Digital Xinxiang Technology Operation Co., Ltd. and 11.40 million from Henan New Investment Information Industry Co., Ltd. [2][3]. Group 3: Financial Relationships and Implications - The data reflects a complex web of financial relationships among the companies, with many transactions categorized as either operating or non-operating, which could impact liquidity and financial stability [4]. - The presence of significant receivables from various subsidiaries and related parties suggests a reliance on intercompany transactions for cash flow management [3].