Overview - The company, Zhejiang Dongjing Electronics Co., Ltd., announced the provision for asset impairment for the fiscal year 2024, totaling approximately 43.49 million RMB, which represents 59.20% of the audited net profit for the year [1][5]. Asset Impairment Details - The breakdown of the impairment provision includes: - Inventory impairment loss: 30,052,906.44 RMB, accounting for 40.91% of the annual audited net profit - Fixed asset impairment provision: 12,612,345.67 RMB, accounting for 17.17% - Construction in progress impairment provision: 821,632.30 RMB, accounting for 1.12% [1][4]. Inventory Valuation - As of December 31, 2024, the company reported an inventory book value of 96.93 million RMB, with a recoverable amount of 72.11 million RMB, leading to an inventory impairment provision balance of 24.82 million RMB [2]. Impairment Testing Process - The company conducted impairment testing based on the fair value less disposal costs and the present value of expected future cash flows, confirming that the recoverable amounts of certain assets were below their carrying values [4]. Impact on Financials - The total impairment provision of 43.49 million RMB will reduce the net profit attributable to the parent company by the same amount, thereby affecting the equity of the parent company [4][5]. Compliance and Justification - The impairment provisions were made in accordance with the relevant accounting standards and internal control systems, ensuring that the financial status and asset values are accurately reflected [5].