China Medical Adopts New Accounting Policy

China Medical & HealthCare Group (DE:SMI) has released an update.

China Medical & Healthcare Group has announced a switch from the revaluation model to the cost model for accounting their leasehold land and buildings, a move expected to align with industry practices and reduce administrative and valuation costs. The policy change, effective from January 1, 2024, will also result in a more accurate reflection of the company’s operational performance. Preliminary estimates indicate a retrospective decrease in total assets by approximately HK$81.2 million for the end of 2023.

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