Reasons for the impairment of goodwill of Songqing shares
The deep processing business of turpentine declined. With the rising prices of main raw materials, auxiliary materials and fuels in turpentine deep processing business, as well as competitors' resumption of work and expansion of production, market competition has intensified, leading to the decline of turpentine deep processing business. Song Qing Co., Ltd. is located in Jianyang District, Nanping City, Fujian Province, at the southern foot of Wuyi Mountain in China and the source of Minjiang River. Is a comprehensive utilization enterprise specializing in the research, development, production and sales of turpentine deep-processed products.