Maxwell Technologies takes impairment charge, plans 2026 financial optimizations

Suzhou Maxwell Technologies will record an asset impairment provision of 563.9105 million yuan for the first three quarters of 2025, primarily impacting accounts receivable and inventory. This move will reduce the company's consolidated profit and shareholder equity by the same amount. Concurrently, the company is preparing for 2026 by forecasting daily related-party transactions with Jiangsu Qiweixing Equipment Technology Co., Ltd. up to 300 million yuan and planning to apply for comprehensive bank credit lines up to 2.1 billion yuan.

To support its subsidiaries, Maxwell will provide guarantees totaling up to 700 million yuan to Suzhou Maxwell Automation Equipment Co., Ltd. and MAXWELL TECHNOLOGY PTE. LTD. The board also approved the use of idle self-owned funds, not exceeding 350 million yuan, for wealth management and authorized foreign exchange derivative transactions up to 300 million yuan to mitigate currency risks. Additionally, the company will engage in accounts receivable factoring services up to 800 million yuan.

These financial initiatives, approved by the board on October 28, 2025, aim to enhance capital efficiency and improve financial stability. A general meeting will be held on November 13, 2025, to further discuss certain proposals, including comprehensive bank credit and amendments to the company’s articles of association.