Shanghai Electric Announces Accounting Policy Shift

Shanghai Electric Group Company (HK:2727) has released an update.

Shanghai Electric Group Company Limited has announced changes to its accounting policies, as approved by its board of directors. These changes include reclassifying assurance-type warranty expenses from ‘selling and distribution expenses’ to ‘cost of sales’, which will affect financial reports starting January 2024. The company advises shareholders and potential investors to exercise caution when dealing with its securities.

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