Summary of Key Points Core Viewpoint - The company, Zhejiang Apac Pharmaceutical Co., Ltd., has announced the provision for credit impairment losses and asset impairment losses totaling 4,164,186.80 yuan, reflecting a cautious approach to accurately represent its financial status and asset values [1][2]. Group 1: Impairment Losses Overview - The company conducted a comprehensive review and impairment testing of its assets, resulting in a total provision for impairment losses of 4,164,186.80 yuan as of June 30, 2025 [1]. - The breakdown of the impairment losses includes: - Credit impairment losses: -230,649.18 yuan for accounts receivable and 1,095,811.38 yuan for other receivables - Asset impairment losses: -5,029,349.00 yuan for inventory [1][2]. Group 2: Financial Impact - The provision for credit and asset impairment losses will reduce the company's total profit for the first half of 2025 by the same amount, 4,164,186.80 yuan [2]. Group 3: Compliance and Approval - The provision for impairment losses was approved by the company's eighth board of directors and the eighth supervisory board, ensuring compliance with relevant accounting standards and reflecting the actual financial situation of the company [2][4]. - The board and supervisory committee both agree that the impairment provisions align with the principles of prudence and accurately reflect the company's asset status and operational results, benefiting the overall interests of the company and its shareholders [4].

Core Viewpoint - The company, Xiangfenghua, reported that there is no significant change in inventory compared to the end of the previous year, as stated in their half-year report for 2025 [1] Inventory Management - The company's inventory consists of work-in-progress, finished goods, raw materials, and entrusted processing materials [1] - The company plans to dynamically manage the scale and structure of its inventory based on downstream customer demand and production arrangements to ensure that inventory remains within a reasonable range [1]