MIE Holdings Reports Asset Impairment in 2024 Annual Update
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MIE Holdings Corp. (HK:1555) reported asset impairment losses of approximately RMB93.4 million in its 2024 Annual Update, primarily related to oil and gas properties at the Daan Oilfield. The impairment assessment utilized a discounted cash flow model, considering factors like crude oil prices and production volumes, with a shorter forecast period due to the production sharing contract expiring in 2028. The company's current market cap is HK$118.3M, with a year-to-date price performance of 52.17%.
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