Hanwei Electronics records impairment, divests stake, amends articles ahead of H-share listing

Hanwei Electronics Group Corporation announced a total asset impairment provision of CNY 1,202.55 million for the third quarter of 2025, which will reduce the company's total profit and net assets for the period. This provision includes CNY 980.48 million for credit impairment losses and CNY 222.07 million for asset impairment losses. The company also disclosed the sale of its 65% equity in Zhengzhou Hanwei Zhiyuan Technology Co., Ltd. for CNY 43,986.475 million, aiming to optimize its asset structure and focus on core businesses.

Concurrently, Hanwei Electronics is proposing extensive revisions to its Articles of Association and a change in its business scope. Key amendments include streamlining the board structure by delegating supervisory functions to the audit committee, revising shareholder rights and obligations, and updating provisions related to share issuance and capital changes. The company also announced the appointment of KPMG Hong Kong as the auditing firm for its upcoming H-share issuance and listing on the Hong Kong Stock Exchange.