SD GOLD Records RMB1.02 Billion Asset Impairment for 2025, Cutting Full-Year Profit

Bulletin Express03-26

Shandong Gold Mining Co., Ltd. (SD GOLD) has approved a RMB1.02 billion asset-impairment provision for the 2025 fiscal year after completing its year-end asset review in line with Chinese Accounting Standards.

The largest adjustment stems from long-term assets: • Fixed assets: RMB451.58 million • Goodwill: RMB339.43 million • Investment properties: RMB2.20 million

Financial-instrument impairments totaled RMB221.87 million, comprising notes receivable (RMB1.35 million), accounts receivable (RMB31.78 million), other receivables (RMB180.07 million) and other current assets (RMB8.67 million).

An additional RMB5.71 million inventory write-down brings the aggregate charge to RMB1.02 billion, which will be fully recognized in the 2025 income statement, directly reducing reported profit for the year by the same amount.

Management stated that the move follows the principle of prudence, ensuring the 31 December 2025 financial position accurately reflects asset values. The board and its audit committee confirmed the adequacy of impairment testing procedures and the alignment with applicable accounting standards.

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