Summary by Moomoo AI
HUA FENG INTERNATIONAL POWER CO., LTD. HELD A MEETING OF THE BOARD OF DIRECTORS AND SUPERVISORY BOARD ON MARCH 19, 2024 TO COUNT THE PREPARED MOTION FOR SIGNIFICANT ASSET IMPAIRMENT. Pursuant to the provisions of Corporate Accounting Standard No. 8 - Asset Depreciation, the Company has conducted impairment tests and assessments of goodwill and other depreciating assets and has provided appropriate depreciation preparations. In 2023, the total amount of depreciation under the China criteria under the combined company was $30.99 billion, under the international benchmark was $32.64 billion; under the parent company level, the Chinese benchmark write-down was $37.35 billion. This impairment mainly includes impairment losses on fixed assets, goodwill, long-term equity investments and receivables. Both the Board of Directors and the Board of Supervisors consider that this substatement reflects the truthfulness of the company's assets and the fairness of operating results.