Securities code: 002358 securities abbreviation: Senyuan electric Announcement No.: 2022-005 Henan Senyuan Electric Co.Ltd(002358)
Announcement on the provision for asset impairment and write off of assets in 2021
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of the provision for asset impairment and write off of assets this time
1. The basis and reasons for the current provision for asset impairment and write off of assets
Henan Senyuan Electric Co.Ltd(002358) (hereinafter referred to as "Senyuan electric" or "the company") the provision for asset impairment this time is based on the principle of prudence in accordance with the stock listing rules of Shenzhen Stock Exchange (revised in 2022), the accounting standards for business enterprises and the relevant provisions of the company's accounting policies, in order to truly and accurately reflect the company's financial, asset and operating conditions, The company (including subsidiaries at all levels within the scope of consolidated statements, the same below) has conducted a comprehensive inventory of accounts receivable, notes receivable, inventory, other receivables, long-term equity investment, fixed assets, construction in progress, intangible assets and other assets as of December 31, 2021, and fully evaluated and analyzed the possibility of impairment of various assets, The provision for asset impairment to be withdrawn is determined. At the same time, in accordance with the accounting standards for business enterprises and relevant accounting policies of the company, individual accounts receivable of the company with conclusive evidence indicating that they cannot be recovered have been written off.
2. Provision for asset impairment and write off of assets this time
In 2021, the total amount of credit impairment provision and asset impairment provision for accounts receivable, other receivables, notes receivable and inventory of the company was 350055800 yuan, and the amount of write off, recovery or reversal of assets was 30833900 yuan. The details are as follows:
Unit: 10000 yuan
The book at the beginning of the year increases in the current period and decreases in the current period. The balance of the items of the book category at the end of the year is recovered or written off, or the balance is withdrawn and others are transferred back to others
It shall be withdrawn according to individual recognition
Accounts receivable from bad debt reserves: 50912.79 9625.24 1003.73 860.67 58673.63
Accounts receivable with bad debt withdrawn by portfolio 36577.75 10232.44 94.08 159.72 46744.55 credit less provision
Subtotal of loss 87490.54 19857.67 94.08 1003.73 1020.39 105418.13
It is withdrawn according to individual recognition
Other receivables with bad debt reserves of 1689.55, 37.70 and 1651.85
Collection and withdrawal of bad debts by portfolio 898.73 -83.26 815.47
Other receivables for provision
paragraph
Subtotal 2588.27 -83.26 37.70 2467.31
It shall be withdrawn according to individual recognition
Receivables with bad debt reserves
Bill
Notes receivable with provision for bad debts of 22.91, 58.18 and 81.1 withdrawn according to combination
Subtotal 22.91 58.18
Assets minus inventory falling price reserves 13867.73 15172.99 1021.57 28019.15 value loss
Total 103969.45 35005.58 94.08 1041.43 2041.96 135985.74
Note: the receivables of the above write off assets are not related parties of the company. After the bad debt write off of the above funds, the company will establish separate accounts for future reference for these customers, continue to implement the person in charge to track at any time, and reserve the right to continue recourse. Once it is found that the other party has the ability to repay, it will be recourse immediately.
2、 Recognition standard and withdrawal method of asset impairment provision and write off assets this time
1. Recognition standard and provision for bad debt reserves of accounts receivable
Since January 1, 2019, the company has implemented the new financial instrument standards, and the company measures its loss reserves according to the amount equivalent to the expected credit loss of accounts receivable in the whole duration. According to the customer's credit rating, business scale, historical payment collection and credit loss, the expected credit loss is estimated in two ways: individual and combined evaluation:
(1) For accounts receivable with significant amount, long-term cooperative relationship or abnormal cooperative relationship, the impairment loss shall be assessed in an individual way. According to the specific credit risk characteristics of accounts receivable, such as customer credit rating, industry and business characteristics, historical collection and bad debt loss, etc, At the initial recognition of accounts receivable, the loss reserve shall be recognized according to the amount of expected credit loss in the whole duration. And re evaluate the amount change of expected credit loss in the remaining duration of accounts receivable on each reporting date, and adjust the loss provision.
(2) For accounts receivable that do not belong to the above circumstances, the impairment loss shall be assessed according to the combination method. The company shall refer to the experience of historical credit loss, combined with the current situation and the prediction of future economic conditions, prepare the table of credit loss rate of accounts receivable in the whole duration, and calculate the expected credit loss.
The basis for determining the combination is as follows:
Receivables for evaluating expected credit risk and measuring expected credit loss by portfolio:
Project accrual basis
Except for the accounts receivable for which the impairment provision has been separately accrued, the company adjusts the historical credit loss rate of the accounts receivable portfolio in the whole duration of the accounts receivable on the basis of the portfolio, combined with the current situation and the prediction of the future economic situation. On each reporting day, the company updates the historical credit loss rate and analyzes the changes in forward-looking estimates. If necessary, adjust the credit loss rate according to the changes and accrue loss reserves.
Between the parent and subsidiary companies whose combination of related parties is included in the scope of consolidated financial statements, and between subsidiaries, the combination of related parties is divided according to the equity relationship, and no provision for bad debts is made.
Unit: 10000 yuan
Category opening book balance current period change amount closing book balance current period withdrawal or reversal write off or others
Accounts receivable with provision for bad debts of 50912.79 9625.24 1003.73 860.67 58673.62 recognized individually
Accounts receivable with bad debt provision of 36577.75 10326.52 - 159.72 46744.55 withdrawn by portfolio
Total 87490.54 19951.76 1003.73 1020.39 105418.17
2. Recognition criteria and accrual of other receivables
The company estimates the expected credit loss of other receivables individually or in combination by considering all reasonable and based information, including forward-looking information. The measurement of expected credit loss depends on whether there is a significant increase in credit risk of other receivables after initial recognition.
If the credit risk of other receivables has increased significantly since the initial recognition, the company shall measure its loss reserves according to the amount equivalent to the expected credit loss of the other receivables in the whole duration; If the credit risk of the other receivables has not increased significantly since the initial recognition, the company measures its loss reserves according to the amount equivalent to the expected credit loss of the other receivables in the next 12 months. The increase or reversal amount of the loss reserves thus formed shall be included in the current profits and losses as impairment losses or gains.
If the credit risk of other receivables is low on the balance sheet date, the company considers that the credit risk of other receivables has not increased significantly since initial recognition.
Provision for bad debts of other receivables in the current period is as follows:
Unit: 10000 yuan
Category opening book balance current period change amount closing book balance current period withdrawal or reversal write off or others
Bad debt withdrawn according to individual recognition 1689.55 - 37.70 - 1651.84
Other receivables prepared
Bad debt reserves withdrawn by portfolio: 898.73 -83.26-815.46
Other receivables
Total 2588.27 -83.26 37.70 - 2467.31
3. Recognition standard and withdrawal of notes receivable
The company estimates the expected credit loss of notes receivable individually or in combination by considering all reasonable and based information, including forward-looking information. The measurement of expected credit loss depends on whether the credit risk of notes receivable has increased significantly since initial recognition.
If the credit risk of notes receivable has increased significantly since initial recognition, the company shall measure its loss reserves according to the amount equivalent to the expected credit loss of the notes receivable in the whole duration; If the credit risk of the notes receivable has not increased significantly since initial recognition, the company measures its loss reserves according to the amount equivalent to the expected credit loss of the notes receivable in the next 12 months. The increase or reversal amount of the loss reserves thus formed shall be included in the current profits and losses as impairment losses or gains.
If the credit risk of notes receivable on the balance sheet date is low, the company considers that the credit risk of notes receivable has not increased significantly since initial recognition.
The provision for bad debt of notes receivable in the current period is as follows:
Category opening book balance current period change amount closing book balance current period withdrawal or reversal write off or others
Provision for bad debts according to individual recognition -----
Notes receivable for account preparation
Bad debt provision withdrawn by portfolio 22.91 58.18-81.10
Notes receivable prepared
Total 22.91, 58.18 -- 81.10
4. The basis for determining the net realizable value of inventories and the withdrawal method of inventory falling price reserves
The company's inventory is measured at the lower of cost and net realizable value, and the inventory falling price reserves are withdrawn according to the difference between the cost of a single inventory and the net realizable value. Finished products, goods in stock and materials for sale
