Kaichuang International records asset impairment alongside Q3 performance changes

Shanghai Kaichuang Marine International has announced a provision for asset impairment of CNY 11,339,587.93 for the period ending September 30, 2025. This decision, approved by the board on October 30, 2025, reflects a cautious approach to accurately represent the company’s asset condition and operating results, with the impairment primarily affecting inventory. This provision is expected to reduce the current period's total profit and net profit attributable to shareholders by the same amount.

The asset impairment decision comes as the company reports its third-quarter performance for 2025. For the nine months ended September 30, 2025, Kaichuang International recorded a net profit attributable to shareholders of CNY 60,517,260.98, marking a 269.47% increase compared to the previous year. This rise is primarily attributed to increased output in the deep-sea fishing sector.

Despite the overall positive trend in net profit for the nine-month period, the company's Q3 2025 operating revenue decreased by 32.82% year-on-year to CNY 450,167,434.57, due to reduced income from the deep-sea fishing segment. The asset impairment amount is a preliminary estimate, pending final audit confirmation.