Beingmate reports significant Q3 impairment provisions, asset write-offs

Beingmate reported significant impairment provisions and asset write-offs totaling CNY 14,969,563.14 for Q3 2025, leading to a CNY 12,201,124.49 reduction in total Q3 profit. Cumulative provisions for Q1-Q3 2025 reached CNY 55,055,369.34, with write-offs amounting to CNY 94,492,481.47, decreasing total profit by CNY 33,507,984.88.

These adjustments are primarily due to bad debt provisions for accounts and other receivables, inventory write-downs, and impairment provisions for non-current assets. The company specifically noted a CNY 15,000,000.00 impairment on prepaid exclusive license fees related to an unapproved CBD-related food resource project.

Concurrently, the Q3 2025 financial report shows a 59.25% increase in net profit attributable to shareholders, reaching CNY 32,258,157.04. However, the comprehensive impact of impairment provisions and write-offs reduced Q1-Q3 2025 net profit attributable to shareholders by CNY 33,456,000.15, representing 32.50% of the previous year's audited net profit. The board of directors' audit committee confirmed the adjustments align with accounting standards and enhance financial transparency.