Jiangxi Copper Announces Significant Asset Impairments

Jiangxi Copper Company (HK:0358) has released an update.

Jiangxi Copper Company Limited has announced a total provision for impairment on assets of RMB873.37 million for the first half of 2024, following an impairment test that revealed recoverable amounts lower than book values for certain assets. The major impairments include write-downs of inventories and impairments on fixed assets, intangible assets, goodwill, and credit losses. The company adheres to a stable business policy and hedging strategies to mitigate the risks associated with fluctuating metal prices.

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