Baiyang Investment Group announces Q3 impairment, new guarantees

Baiyang Investment Group reported a total asset impairment provision of CNY 45,099,800 for Q3 2025, which will reduce the company's Q3 operating profit by the same amount. This provision includes credit impairment for accounts receivable (CNY 11,480,000) and other receivables (CNY 238,900), as well as inventory write-downs (CNY 33,411,900). The company noted a reversal of credit impairment for prepaid accounts (CNY 284,000) and notes receivable (CNY 26,000).

In related developments from an October 27, 2025, board meeting, Baiyang approved a new guarantee of up to CNY 150,000,000 for its second-tier holding subsidiary, Vietnam Baiyang Food Co., Ltd., for project-specific loans. This increases the total guarantee limit for wholly-owned and holding subsidiaries to CNY 544,000,000. Additionally, the company will provide up to CNY 80,000,000 in risk mitigation collateral for qualified customers to secure bank financing for product purchases. These guarantees require shareholder approval, with a meeting scheduled for November 14, 2025.