CSSC Offshore Adopts New Accounting Guidelines

CSSC Offshore & Marine Engineering (Group) Company Limited Class H (HK:0317) has released an update.

CSSC Offshore & Marine Engineering (Group) Company Limited has announced changes to its accounting policies in line with new guidelines issued by China’s Ministry of Finance, effective from January 1, 2024. These changes are expected to have no material impact on the company’s financial position or cash flows. The adjustments include new provisions for classifying current versus non-current liabilities and the inclusion of warranty-type quality assurance expenses in operating costs.

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