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China Petroleum Engineering Declares 344-Million-Yuan Asset Impairment Provision in 2025; Shares Fall 5%

-- China Petroleum Engineering (SHA:600339) declared 2025 provision for asset impairment of 344.0 million yuan.

Bad debt provision for receivables stood at 195.7 million yuan, impairment provision for contract assets was 141.0 million yuan and provision for inventory write-down was 7.2 million yuan, according to a filing with the Shanghai bourse.

Meanwhile, asset impairment provisions of 8.1 million yuan were reversed last year.

Shares of the construction engineering company fell 5% in recent trade.

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