Baiyin Nonferrous: Profit hit by 30.7bn yuan impairment provisions, liabilities

Baiyin Nonferrous Group reported a total net profit reduction of CNY 30,693.83 million for the first half of 2025, primarily due to asset impairment provisions and estimated liabilities.

This included a CNY 101.63 million provision for bad debts on accounts receivable and a CNY 8,438.60 million provision for inventory write-downs. However, a CNY 9,572.58 million reversal related to inventory resulted in a CNY 1,133.98 million increase to profit.

Additionally, estimated liabilities of CNY 31,391.97 million and CNY 334.20 million were recognized for litigation cases involving Shanghai Honglu International Trading Co., Ltd. and Nanchu Storage Management Group, totaling CNY 31,726.18 million.

The company's board of directors and supervisory board approved these provisions in August 2025, stating the adjustments align with accounting standards and reflect the company's financial condition. Baiyin Nonferrous will hold an investor relations conference on September 17, 2025, to discuss these financial results.