Zhidu Shares: The Bitcoins held by the company belong to the company as service results

Zhidu Technology (000676) stated in response to investor questions on the investment platform that the company's holdings of Bitcoin came from purchasing blockchain computing power cloud services from Bitdeer in 2021. The corresponding Bitcoin generated by this computing power is owned by the company as a service result. According to relevant provisions of enterprise accounting standards, the company includes this type of asset in intangible asset accounts and measures it at initial cost. In 2022, based on the review, the company expects the recoverable amount to be lower than its carrying amount and will recognize impairment losses on intangible assets. Once confirmed, impairment losses on intangible assets cannot be reversed in future accounting periods according to relevant provisions of enterprise accounting standards.