Haixin Foods focuses on prudence amidst profitability concerns

Haixin Foods (SZSE:002702) announced a proactive approach to financial management with a focus on asset quality and risk mitigation. The company will implement a first-quarter provision for asset impairment losses and credit impairment losses totaling CNY 4.65 million, reflecting a commitment to prudent financial reporting. This move comes as Haixin faces a challenging financial landscape, underscored by an earlier announcement regarding its 2024 earnings, where it reported a net loss attributable to shareholders of CNY 36.94 million. In response to these profitability pressures, Haixin's board has adopted a "profit priority" strategy for 2025, emphasizing cost control and efficiency improvements to regain financial health. The asset reevaluation aims to enhance transparency and more realistically portray the company’s financial standing. Haixin Foods also announced it will continue the engagement of Beijing Dehao International as auditor, reflecting a commitment to reliable financial oversight.