Stop Production And Sales Of LCD Modules Chuanma Co., Ltd. Losses 43 Million In 2017
May 03, 2018
On April 27, Chuanma Co., Ltd. (835835) disclosed its 2017 annual report. In 2017, the company achieved revenue of 16,045,300 yuan, a year-on-year decrease of 80.73%; the loss was 42.995 million yuan, compared with the net profit of 182,300 yuan that was realized at the same time last year. Turn from profit to loss.
Chuanma Co., Ltd. explained that in 2017, the company suspended the production and sales of its own R&D products (liquid crystal display modules) and was unable to start new businesses, resulting in a significant drop in revenue. At the same time, the assets of the company's machinery and equipment were idle, and the subsidiary, Hingchuan Electronics, which was responsible for production intelligence, stopped production. The company was unable to determine the future recoverable amount of assets, and provision was made for impairment of assets such as inventory and equipment, resulting in losses.
Chuanma is principally engaged in the design, development, production, and sales of liquid crystal display modules.
