Youngor: Provision for asset impairment of 554 million yuan in 2024

Youngor announced that the company will hold the 17th meeting of the 11th Board of Directors on April 22, 2025, to review and approve the "Proposal on Asset Impairment Provision for the Year 2024." In accordance with the requirements of the "Enterprise Accounting Standards" and the company's accounting policies, the company conducted a comprehensive inspection and analysis of the impairment signs of relevant asset values as of December 31, 2024. The assets were tested by category, and an asset impairment provision of 554 million yuan was made for assets that may incur impairment losses, detailed as follows: inventory impairment provision of 407 million yuan, long-term equity investment impairment provision of 120 million yuan, investment property impairment provision of 24.4508 million yuan, and fixed asset impairment loss of 2.9998 million yuan. This asset impairment provision will reduce the total profit for 2024 by 554 million yuan