Summary by Moomoo AI
CRRC Corporation (CRRC) announced on August 23, 2024, that it has implemented new accounting policy changes in accordance with the new accounting standards issued and revised by the Ministry of Finance. The changes mainly involve the classification of current liabilities and non-current liabilities, as well as the reporting method for guarantee-related quality assurance expenses. The company stated that these accounting policy changes have not had a significant impact on the company's financial condition and operating results. Under the new policy, the company made retrospective adjustments to the consolidated income statements for the first half of 2024 and 2023. After the adjustments, the cost of goods sold for the first half of 2024 increased by approximately 1,393,954 thousand yuan, while selling expenses decreased accordingly. The cost of goods sold for the first half of 2023 was adjusted to increase by approximately 1,460,837 thousand yuan, and selling expenses were adjusted to decrease by approximately 1,460,837 thousand yuan.
