Yicheng New Energy corrects accounting, acquires Shanxi Meishan, forms JV

Henan Yicheng New Energy (SZSE:300080) has issued a series of announcements detailing an accounting correction, acquisition, and the formation of a joint venture. First, the company revised its 2024 third-quarter report due to a change in the accounting treatment for the disposal of Henan Pingmei Shenma Energy Storage’s 80.2% equity, reclassifying it as an equity transaction. This correction, along with a change related to acquiring Longji Photovoltaic Materials, impacts various line items on the balance sheet and income statement, including a decrease in unappropriated profit of CNY176,053,818.83.