Stock Code: 002341 stock abbreviation: Xinlun New Materials Co.Ltd(002341) Announcement No.: 2022-010 Xinlun New Materials Co.Ltd(002341)
Announcement on the provision for asset impairment in 2021
All directors, supervisors and senior managers of the company guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
Xinlun New Materials Co.Ltd(002341) (hereinafter referred to as "the company"), in order to truly, accurately and objectively reflect the company's financial situation and operating results, in accordance with the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange, accounting standards for business enterprises and other relevant provisions, and based on the principle of prudence, the company has evaluated and analyzed all assets within the scope of the consolidated financial statements that need to be depreciated, Provision for impairment shall be made for relevant assets that are expected to have a large possibility of impairment loss. The relevant information is described as follows:
1、 Summary of the expected provision for asset impairment
1. Reasons for the expected provision for asset impairment
In accordance with the requirements of the accounting standards for business enterprises and the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange, in order to more truly and accurately reflect the asset status and financial status of the company as of December 31, 2021, the company and its subsidiaries have conducted a comprehensive inventory of receivables, goodwill and other assets, It is proposed to withdraw impairment provision for assets that may suffer from asset impairment loss.
2. Asset scope and estimated amount of the current provision for asset impairment
According to the preliminary calculation of the company, the provision for impairment of assets with signs of impairment at the end of 2021 is expected to be no more than 615 million yuan. The details are as follows:
The proportion in the absolute value of the net profit attributable to the shareholders of the municipal company with the expected impairment amount of the asset name in 2020 is expected to be no more than (10000 yuan)
Accounts receivable 700.00 0.54%
Other receivables 16500.00 12.80%
Contract assets 700.00 0.54%
Inventory 1600.00 1.24%
Fixed assets 1500.00 1.16%
Construction in progress 500.00 0.39%
Goodwill 40000.00 31.02%
Total 61500.00 47.69%
3. The reporting period to be included in the provision for asset impairment is from January 1, 2021 to December 31, 2021.
4. The amount of asset impairment to be accrued this time is the preliminary calculation result of the company's financial department, and the final data is subject to the financial data audited by the accounting firm.
2、 Specific description of the provision for asset impairment
1. According to the accounting standards for Business Enterprises No. 22 - recognition and measurement of financial instruments (CK [2017] No. 7), the company evaluates the expected credit risk and measures the expected credit loss based on a single financial instrument or a combination of financial instruments. When based on the combination of financial instruments, the company divides the financial instruments into different combinations based on the common risk characteristics, refers to the historical credit loss experience, combined with the current situation and the prediction of future economic conditions, and calculates the expected credit loss through the default risk exposure and the expected credit loss rate throughout the duration. It is estimated that the amount of provision for impairment of receivables to be withdrawn by the company in 2021 is expected to be no more than 7 million yuan, accounting for no more than 0.54% of the audited absolute value of net profit attributable to shareholders of Listed Companies in 2020; The proposed provision for impairment of contract assets shall not exceed 7 million yuan, accounting for no more than 0.54% of the absolute value of the audited net profit attributable to the shareholders of the listed company in 2020; The amount of provision for impairment of other receivables to be accrued by the company in 2021 is expected to be no more than 165 million yuan, accounting for no more than 12.80% of the audited absolute value of net profit attributable to shareholders of Listed Companies in 2020. 2. The amount of inventory falling price reserves to be withdrawn by the company in 2021 is expected to be no more than 16 million yuan, accounting for no more than 1.24% of the audited absolute value of net profit attributable to shareholders of Listed Companies in 2020.
The company's inventory is measured at the lower of cost and net realizable value. If the inventory cost is higher than its net realizable value, the inventory falling price reserves are accrued. If the net realizable value of the finished products produced by the materials held for production is higher than the cost, the net realizable value of the materials shall still be measured according to the cost; If the decrease of material price indicates that the net realizable value of finished products is lower than the cost, the material shall be measured according to the net realizable value; The net realizable value of inventories held by manufacturing companies for the execution of sales contracts or labor contracts is calculated based on the contract price. If the quantity of inventory held is more than the quantity ordered in the sales contract, the net realizable value of the excess inventory is calculated on the basis of the general sales price. According to the calculation, the company plans to withdraw the falling price reserve for the inventory of no more than 16 million yuan.
3. In 2021, the company's provision for impairment of fixed assets is expected to be no more than 15 million yuan, accounting for no more than 1.16% of the audited absolute value of net profit attributable to shareholders of Listed Companies in 2020; The amount of provision for impairment of construction in progress to be withdrawn by the company in 2021 is expected to be no more than 5 million yuan, accounting for no more than 0.39% of the audited absolute value of net profit attributable to shareholders of Listed Companies in 2020.
According to the relevant provisions of the accounting standards for Business Enterprises No. 8 - asset impairment, the company will conduct impairment test on the company's fixed assets on the base date of December 31, 2021, and hire a professional evaluation institution to evaluate the relevant assets with signs of impairment. Up to now, based on the preliminary estimation of the company's financial department and the principle of prudence, it is estimated that the impairment amount of fixed assets in 2021 will not exceed 15 million yuan; The impairment amount of construction in progress in 2021 will not exceed 5 million yuan. The final data shall be determined by the evaluation institution and accounting firm.
4. The amount of goodwill impairment provision to be withdrawn by the company in 2021 is expected to be no more than 400 million yuan, accounting for no more than 31.02% of the audited absolute value of net profit attributable to shareholders of Listed Companies in 2020:
According to the relevant provisions of the accounting standards for Business Enterprises No. 8 - asset impairment, the company will conduct impairment test on the goodwill of the acquired subsidiaries on the base date of December 31, 2021, and hire professional evaluation institutions to evaluate the relevant assets of the above companies with signs of impairment. Up to now, according to the preliminary estimation of the company's financial department and based on the principle of prudence, it is estimated that the amount of goodwill impairment in 2021 will not exceed RMB 40 million. The final data shall be determined by the evaluation institution and accounting firm.
3、 Explanation on the rationality of the provision for asset impairment this time
The provision for asset impairment this time follows the relevant provisions of the accounting standards for business enterprises and the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange. The basis for the provision for asset impairment fully and fairly reflects the company's asset status, making the company's accounting information on asset value more authentic, reliable and reasonable.
4、 The impact of the current provision for asset impairment on the company
According to the preliminary calculation of the company's financial department, the proposed provision for asset impairment is expected to be no more than 615 million yuan. After considering the impact of income tax, it is expected to reduce the company's net profit attributable to the shareholders of the listed company by no more than 615 million yuan in 2021 and the owner's equity attributable to the shareholders of the listed company by no more than 615 million yuan in 2021. The final data shall be subject to the financial data audited by the accounting firm.
It is hereby announced.
Board of directors of Shenzhen Xinlun Technology Co., Ltd. January 29, 2001
