Express News | Songcheng Performance: Will make reasonable arrangements for its equity in Huafang Group at an appropriate time.

BreakingsAug 5, 2025 20:59

Songcheng Performance Development: HUAFANG GROUP will continue its operation after being Delisted. Its Delisted status will not affect the company's equity method accounting and long-term Private Equity investment impairment.

On January 13, Gelonghui reported that Songcheng Performance Development responded on the interactive platform to investors asking whether the delisting of HUAFANG GROUP would affect the company's annual report this year. It stated that the impact of HUAFANG GROUP on the company mainly relates to two aspects: investment income under the equity method and impairment of long-term Private Equity. The former is related to HUAFANG GROUP's operating performance, while the latter is related to HUAFANG GROUP's financial condition and operational performance. Currently, HUAFANG GROUP's operation is becoming stable, and the book value of the company's long-term Private Equity in HUAFANG GROUP is close to its identifiable net assets calculated based on the shareholding ratio. After HUAFANG GROUP is delisted, it will continue to operate, and its delisting will not affect the company's equity method.

Gelonghui FinanceJan 13, 2025 22:25