Advanced Fiber Resources faces impairment provisions in Q3 2025

Advanced Fiber Resources announced on October 22, 2025, that its board of directors approved credit and asset impairment provisions totaling 13.9621 million yuan for the first three quarters of 2025. This decision, based on cautious accounting principles and an assessment of asset values, aims to accurately reflect the company's financial condition. The provisions include 5.8265 million yuan for credit impairment, primarily from accounts receivable, and 8.1356 million yuan for asset impairment, mainly for inventory write-downs.

The company's board of supervisors and audit committee both reviewed and approved the impairment provisions, confirming their compliance with accounting standards and the company's financial policies. They concluded that the provisions accurately reflect the company's financial and asset status and do not harm shareholder interests.

These impairment provisions will reduce the company’s 2025 first three-quarter net profit by 13.9621 million yuan and net profit attributable to shareholders by 13.8137 million yuan. This will consequently decrease shareholders' equity attributable to listed company shareholders by 13.8137 million yuan as of September 30, 2025. The impact has been reflected in the financial statements for the period.