Summary by Futu AI
Huaneng Power held a board of directors and supervisors meeting on October 29, 2024, to review and approve the proposal to make provision for impairment of assets. In accordance with "Enterprise Accounting Standard No. 8 - Impairment of Assets," the company tested and evaluated assets that might be impaired. In the first three quarters of 2024, the company's consolidated layer recorded a total provision for asset impairment losses of 1.193 billion RMB, including 1.148 billion RMB for long-term asset impairment, 0.027 billion RMB for inventory write-down losses, and 0.018 billion RMB for impairment of prior expenses. The parent company layer made a provision for asset impairment of 0.727 billion RMB, mainly for the impairment of long-term assets at the Jining Power Plant. This impairment provision will affect the total profit of the consolidated layer for the first three quarters of 2024. Both the board of directors and the supervisors affirmed that the provision for asset impairment made this time is in compliance with accounting standards and can fairly represent the company's asset situation.
