Summary by Moomoo AI
LONGYUAN POWER GROUP CO., LTD. HELD A MEETING OF THE BOARD OF DIRECTORS AND SUPERVISORY BOARD ON MARCH 27, 2024 TO CONSIDER THE RESOLUTION PREPARED FOR ASSET IMPAIRMENT IN 2023. The company is prepared to withdraw asset depreciation in 2023 to a total of RMB21.87 million, which is expected to reduce the company's total profit by the same amount for the year. The scope of the amortization preparation covers receivables financing, inventories, fixed assets, intangible assets, in construction works and other receivables, etc. Of these, the impairment of fixed assets is prepared for $11.94 billion, the impairment of intangible assets is prepared for $6.39 billion, and the depreciation in construction works is prepared for $2.52 billion. This depreciation was primarily due to retrofit upgrades of some projects...Show More