Kingmed Diagnostics allocates 2024 profits, provisions for impairment

Guangzhou Kingmed Diagnostics Group (SSE:603882) has announced that it will not distribute profits for the fiscal year 2024, instead retaining earnings to support future growth and investor returns, according to the company's filing with the Shanghai Stock Exchange. Concurrent with this decision, the company plans to set aside CNY 619.5 million for expected credit losses, mainly covering potential uncollected debt. Also the company writes off fixed assets (CNY) 143.6 million related to property damage in order to reflect market value with a total impact to comprehensive income of CNY157.9 million.