Anxu Biotechnology’s announcement on the provision for asset impairment in 2025
Securities code: 688075 Securities abbreviation: Anxu Biotechnology Announcement number: 2026-017
Hangzhou Anxu Biotechnology Co., Ltd.
Announcement on Provision for Asset Impairment in 2025
The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents in accordance with the law.
Hangzhou Anxu Biotechnology Co., Ltd. (hereinafter referred to as the "Company") held the fifth meeting of the third board of directors on April 28, 2026, and reviewed and approved the "Proposal on Provision for Asset Impairment in 2025". The relevant matters are now announced as follows:
1. Overview of provision for impairment
In order to truly reflect the assets and financial status of Hangzhou Anxu Biotechnology Co., Ltd. (hereinafter referred to as the "Company") in 2025, in accordance with the relevant provisions of the Accounting Standards for Business Enterprises and the company's accounting policies, the company and its subsidiaries conducted a comprehensive inventory of various assets as of December 31, 2025. Through analysis, evaluation, and based on the principle of prudence, relevant assets with signs of impairment were tested for impairment and corresponding impairment provisions were made. The company's provision for impairment of various assets in 2025 totals RMB 12.4807 million. This provision for asset impairment needs to be submitted to the shareholders' meeting for review. The details are as follows:
Unit: RMB 10,000 Project Provision Amount Remarks
Bad debt losses on accounts receivable, bad debts on other receivables
Credit impairment loss 435.92
loss
Inventory impairment loss 812.15
Total 1,248.07
2. Specific explanation of asset impairment provisions in 2025
(1) Credit impairment impairment losses
The company's credit impairment provisions for 2025 include bad debt losses on accounts receivable and bad debt losses on other receivables. If the company's relevant accounting policies and accounting estimates indicate that impairment has occurred on the balance sheet date, the company shall make provision for impairment in accordance with regulations. The company refers to historical credit loss experience, combined with current conditions and predictions of future economic conditions, and calculates expected credit losses through default risk exposure and the expected credit loss rate throughout the duration.
(1) Bad debt losses on accounts receivable
In 2025, in accordance with relevant accounting standards, the company measured bad debt provisions for receivables based on expected credit losses throughout the duration, and a total credit impairment loss amount of 7.6183 million yuan was provided.
(2) Bad debt losses on other receivables
In 2025, in accordance with the provisions of relevant accounting standards, the company measured bad debt provisions for other receivables based on expected credit losses throughout the duration, and offset a total of RMB 3.2591 million in credit impairment losses.
(2) Asset impairment losses
(1) Inventory impairment loss
Due to the market failure of the company's products to meet expectations, the net realizable value of some inventories was lower than the book value. Based on the principle of prudence, the company accrued RMB 8.1215 million in inventory depreciation losses and contract performance cost impairment losses.
The specific accrual situation is as follows:
Unit: 10,000 yuan
Category Closing balance Provision amount
Raw materials 13,531.01 -65.43 Semi-finished products 3,026.16 1,994.16 Inventory goods 17,405.84 -1,289.15 Commissioned processing materials - 131.57 Shipped goods - 41.00 Total 33,963.01 812.15
3. The impact of this provision of asset impairment provisions on the company
Credit impairment losses and asset impairment losses totaling RMB 12.4807 million were recognized in this year's consolidated statements, reducing the company's total profit in the consolidated statements by RMB 12.4807 million. The provision for asset impairment this year is a judgment based on the company's actual situation and accounting standards. It does not involve changes in the accounting provision method and has no significant impact on the company's production and operations.
This provision for asset impairment has been audited and confirmed by China Shen Zhonghuan Accounting Firm (Special General Partnership).
4. Opinions of the Board of Directors and the Board of Directors Review Committee
The fifth meeting of the Audit Committee of the company's third board of directors has reviewed and approved the "Proposal on Provision for Asset Impairment in 2025" and submitted it to the board of directors for review. According to the relevant requirements of the "Accounting Standards for Business Enterprises", the company's board of directors has made provision for asset impairment based on the principle of prudence. After the provision is made, it can more objectively and fairly reflect the company's financial status and asset value. Agree with the company's "Proposal on Provision for Asset Impairment in 2025". Announcement is hereby made.
Board of Directors of Hangzhou Anxu Biotechnology Co., Ltd.
April 30, 2026