Guotou Intelligent: Goodwill impairment testing strictly follows enterprise accounting standards and relevant regulatory requirements

Securities Star News: On March 27, State Investment Intelligent (300188) responded to investors’ questions of concern on the investor relations platform.

Investor: In recent years, the amount of goodwill impairment has been huge, directly leading to a significant annual net loss. Could you please confirm whether the impairment testing process is objective and independent? Is there any situation where the timing and amount of impairment are adjusted to meet performance needs? Would the impairment basis and parameters be disclosed more transparently to the public?

State Investment Intelligent Board Secretary: Hello. The company’s goodwill impairment testing strictly follows the Corporate Accounting Standards and relevant regulatory requirements. An independent third-party valuation firm issues professional appraisal opinions. The testing process is objective and independent, and there is no situation of adjusting the accrual timing and amount of impairment based on performance needs. Relevant impairment basis and key parameters, among other information, have already been disclosed in accordance with regulations in the company’s periodic reports. For specific details, please refer to the company’s official announcements. Thank you for your attention and support.

Investor: Some of the company’s assets have long-term low efficiency and are idle, and even continuously depreciating. Does the company have a comprehensive plan to review and revitalize assets? For assets that have not generated any benefit over the long term, will the company decisively dispose of them and recover funds to improve cash flow and the financial structure?

State Investment Intelligent Board Secretary: Hello. The company has already initiated a special project for comprehensive asset review and revitalization of inefficient assets, categorizing and assessing the operating efficiency of various assets and implementing ongoing tracking management. For long-term inefficient, idle, and non-performing assets, the company will actively revitalize them by optimizing allocation, transfer and disposal, and other methods in line with the company’s strategy and development needs, accelerate cash recovery, continuously optimize the asset structure, and effectively improve asset operating efficiency. For related progress, please refer to information officially released by the company. Thank you for your attention.

Investor: The accounts receivable balance is large, with a long aging period, and there is a high risk of bad debts. Could you please tell us whether the company has established a strict bad-debt early-warning and collection mechanism? What is the specific timeline for recovering historical overdue payments? Why has the problem of accounts receivable remaining at a high level not been resolved for many years?

State Investment Intelligent Board Secretary: Hello. The company has established full-process controls for accounts receivable as well as a bad-debt early-warning and collection mechanism. The company continuously increases efforts to collect payments and implements a collection and clearance plan on a case-by-case basis for key overdue receivables. Due to factors such as industry settlement cycles and customer budget adjustments, reducing accounts receivable to a lower level requires a certain process. For related progress, please refer to information released by official sources. Thank you for your attention.

Investor: In 2024, the Ministry of Finance issued the《Pilot Program for Full-Process Management of Data Assets》. State Investment Group is among the first batch of pilot enterprises, and this year is also the concluding year for the pilot program. State Investment Group’s industrial layout covers key areas of the national economy such as energy, transportation, finance, healthcare, and agriculture. In the long course of operations, it has accumulated enormous amounts of high-value, multi-dimensional industrial data. From an investor’s perspective, what you are looking at is that your company, as a listed company under State Investment Group, will have the opportunity to seize this moment to transform from a traditional network security/forensics company into one of China’s largest industrial data operators. As company management, do you have any forward-looking plans in this regard?

State Investment Intelligent Board Secretary: Hello. The company places great importance on the relevant opportunities. Relying on its core capabilities in data governance, data security, and electronic data forensics, it will actively connect with industrial data resource providers in multiple fields such as energy and transportation and finance within State Investment Group, and, in accordance with laws and regulations, participate in the value discovery and operational exploration of data assets. For specific business progress, please refer to information officially released by the company. Thank you for your attention.

The above content is compiled from publicly available information by Securities Star and generated by an AI algorithm (Network Information Security Filing No. 310104345710301240019). It does not constitute investment advice.