CGN Power changes accounting policies to align with new standards

CGN Power announced that it will change its accounting policies in accordance with the requirements of the "Interpretation No. 18 of the Accounting Standards for Business Enterprises" (Cai Kuai [2024] No. 24) issued by the Ministry of Finance of the People's Republic of China. The changes, effective December 6, 2024, will refine the accounting treatment for investment properties held under floating charge methods and guarantee-related quality assurance that does not fall under single performance obligations. These adjustments aim to provide a more standardized approach to these specific accounting areas. CGN Power states that these revisions will not significantly impact the company's financial position, operating results, or cash flows and will not harm the interests of the company and its shareholders.