Seven Wolves Announcement: Release Of Financial Status And Operating Results

On August 23, Fujian Seven Wolf Industrial Co., Ltd. issued an announcement on the semi annual provision for asset impairment in 2024. According to the announcement, in order to truly, accurately and objectively reflect the company's financial situation and operating results, Fujian Seven Wolf Industrial Co., Ltd., in accordance with the Self regulatory Guidelines for Listed Companies No. 1 - Standardized Operation of Main Board Listed Companies, Accounting Standards for Business Enterprises and other relevant provisions, and in line with the principle of prudence, All assets within the scope of the consolidated financial statements that need to be withdrawn for impairment are evaluated and analyzed, and the impairment provision is withdrawn for the relevant assets that are expected to have greater impairment losses.

It is reported that Fujian Qipilang Industrial Co., Ltd. and its subsidiaries plan to withdraw a total of 650538400 yuan of falling price reserves for inventories by the end of June 2024, including 633687200 yuan of falling price reserves for inventories by the end of 2023, and 68532100 yuan of selling finished products in the first half of 2024. Therefore, 85383300 yuan of falling price reserves for inventories are planned to be withdrawn this time, Accounting for more than 30% of the Company's audited net profit in the latest fiscal year. The provision for impairment of various assets is 82.5201 million yuan in total. After considering the impact of income tax and minority shareholders' profit and loss, the net profit attributable to the owners of the parent company in the half year of 2024 will be reduced by 63.4058 million yuan, and the owner's equity attributable to the owners of the parent company in the half year of 2024 will be reduced by 63.4058 million yuan accordingly.