Summary by Moomoo AI
According to the latest announcement, Vancco Corporation announced on March 28, 2024 that the fifth meeting of its 20th Board of Directors has considered the adoption of a resolution on the appropriation and amortization of the 2023 valuation allowance. In 2023, the total expected depreciation of various types of depreciation due to changes in the scope of consolidation was RMB402.46 billion, a significant increase from RMB102.98 billion in 2022. At the same time, the company's write-downs on returns or resales are expected to be RMB82.26 billion, down from $16.06 billion in 2022. As of the end of 2023, the asset impairment reserve balance of Wanchi enterprises reached RMB1,220.74 billion, an increase of RMB320.20 billion compared to the end of the previous year. THE ANNOUNCEMENT NOTED THAT INVENTORY DEPRECIATION PREPARATIONS ACCOUNTED FOR 65.42% OF THE TOTAL DEPRECIATION PROVISIONS AND CONFIRMED THAT THE RELEVANT PROCESSING COMPLIED WITH RELEVANT NATIONAL POLICY REQUIREMENTS AND IN-COMPANY CONTROLS, REFLECTING THE REALITY OF THE COMPANY'S ASSETS.