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Fulongma announces 2024 asset impairment and new contracts

May 5, 2025 at 05:05 PM UTCBy FilingReader AI

Fujian Longma Environmental Sanitation Equipment (SSE:603686) announced a significant asset impairment provision of CNY 14,326.97万元 for the year 2024. This provision, stemming from expected credit losses on receivables and inventory devaluation, is expected to reduce the company's 2024 profit by an equivalent amount. Concurrently, the company announced it secured several environmental service contracts in April 2025, including projects in Inner Mongolia, Jiangxi, and Tianjin, with an annualized value of CNY 8,339.80万元, and a total potential contract value of CNY 24,461.04万元. Additionally, Fulongma won an CNY 24,181.86万元 contract in Yudu County, Jiangxi Province. With these wins, Fujian Longma's total value for the year to date has reached CNY 92,374.85万元. While the asset impairment will negatively impact short-term profitability, Fulongma expects the new contracts to positively contribute to future financial performance and growth. However, the Yudu County deal has not been finalized as of the announcement date.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

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