China New Energy Clarifies Net Impairment Losses

China New Energy (DE:9H5) has released an update.

China New Energy Limited has provided additional details regarding the Net Impairment Losses on receivables and contract assets in their 2023 Annual Report. The losses, totaling approximately RMB76 million, were appraised by Access Partner Professional Services Limited using methods compliant with IFRS 9 standards. The approaches include a Simplified Approach for trade receivables and a General Approach for other financial assets, with the impairment losses assessed both collectively and individually based on risk characteristics.

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