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02039 CIMC
RTNominal down6.310 -0.040 (-0.630%)

31/12/2019 12:01

CIMC (02039) expects provision for impairment of RMB4-5.5bn

[ET Net News Agency, 31 December 2019] China International Marine Containers (Group)
Co., Ltd. (02039) said it is expected that a provision for impairment of approximately
RMB4 billion to RMB5.5 billion will be required in 2019.
Based on the actual operating conditions of the offshore engineering business of the
company and future industry trend, market landscape, market demand of the platform, future
fluctuations in price/rent, changes in utilization rate, fluctuations in cost and expenses
and other comprehensive factors, the company estimates that there are significant signs of
asset impairment in the platform relating to offshore engineering business, but so far,
the asset impairment testing for relevant platform is still in progress. (RC)

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