Zhangzidao Group subsidiary faces tax arrears, parent plans asset write-offs

Zhangzidao Group's controlled subsidiary, Qingdao Qianyan Marine Seed Industry, has been notified by the State Taxation Administration to pay back corporate income tax totaling 10.64m yuan for 2019-2021, and 1.56m yuan for 2022. Late payment penalties of 8.72m yuan and 627,500 yuan, respectively, were also incurred. These amounts have been fully paid. This will reduce Zhangzidao Group's net profit attributable to shareholders by 12.49m yuan in 2025.

Additionally, Zhangzidao Group plans to provision for asset impairment totaling 2.90m yuan and write off assets totaling 8.01m yuan for the first three quarters of 2025. This includes write-offs for disposable biological assets (mussels) with a book value of 7.79m yuan due to slow growth and lack of economic value. Fixed assets totaling 272,900 yuan that are abandoned or damaged will also be written off. After considering disposal proceeds of 65,400 yuan, the fixed asset write-off loss is 207,500 yuan.

The total impact of these impairment provisions and write-offs is expected to reduce Zhangzidao Group's net profit attributable to listed company shareholders by 10.74m yuan and owners' equity attributable to parent company common shareholders by 10.74m yuan for the first three quarters of 2025.