Securities code: 000670 securities abbreviation: * ST Yingfang Announcement No.: 2022-013 Yingfang Microelectronics Co., Ltd
Announcement on correction of previous accounting errors
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.
The application for resumption of listing of Infotmic Co.Ltd(000670) (hereinafter referred to as "the company") was accepted by Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange") in May 2021. In June 2021, Hubei regulatory bureau of China Securities Regulatory Commission accepted the entrustment of Shenzhen Stock Exchange to conduct on-site verification on the company's application for resumption of listing. In accordance with the relevant provisions of the accounting standards for Business Enterprises No. 28 - changes in accounting policies and accounting estimates and correction of errors and the rules for the preparation of information disclosure by companies offering securities to the public No. 19 - correction and related disclosure of financial information (revised in 2020), the company corrected relevant errors, involving the financial statements of 2020 and January June 2021, The details are as follows:
1、 Summary and causes of accounting error correction
According to the opinions of on-site verification, the company retroactively restates the financial statements of 2020 and January June 2021.
(I) recognition of financial expenses
Previous errors: as of December 31, 2020, Zhejiang Shunyuan Enterprise Management Co., Ltd., the largest shareholder of the company, provided 8 interest free capital loans, with a cumulative amount of 404 million yuan. The company accrued relevant interest according to the benchmark interest rate of bank time deposits in the same period, recognized the financial expenses of RMB 1685100, and increased the capital reserve of RMB 1685100 at the same time.
Correction of accounting errors: the company made further self-examination according to the opinions of on-site verification, corrected and accrued relevant interest according to the quoted interest rate of one-year loan market, increased the financial expenses of 2020 financial statements by 2.9292 million yuan, and increased the capital reserve by 2.9292 million yuan; Increase the financial expenses of the financial statements from January to June 2021 by 5.339 million yuan, and increase the capital reserve by 5.339 million yuan.
(II) reversal of prior period costs
Preliminary errors: in 2007, the subsidiary Changxing Xinyuan Industrial Technology Co., Ltd. (hereinafter referred to as "Changxing Xinyuan") entrusted Changxing County pheasant City sub district office to implement demolition and resettlement and new village construction. In November 2013, Changxing County pheasant City sub district office issued the accounts receivable of pheasant City sub District farmers' resettlement new village, and the accumulative project that should be settled
The payment is 12.682 million yuan. After deducting 9.1 million yuan paid, Changxing Xinyuan temporarily estimates the project payment payable of 3.582 million yuan, and 12.682 million yuan is included in the project cost. By the end of 2019, Changxing Xinyuan had carried forward the project cost confirmed in the early stage to the main business cost. In December 2020, Changxing Xinyuan received the confirmation letter issued by Changxing County pheasant City sub district office, which determined that the final settlement project fund was 9.6379 million yuan, and 537900 yuan still needed to be paid after deducting 9.1 million yuan already paid. Changxing Xinyuan hereby offsets the main business cost of RMB 3.0441 million in 2020. The notes to the company's 2020 financial statements present the relevant profits and losses arising from the above events as recurring profits and losses.
Correction of accounting errors: according to the opinions of on-site verification, considering the long interval between the estimated time and the final settlement time of the above project funds, the company listed the adjustment of relevant profits and losses of RMB 3.0441 million caused by the above events as non recurring profits and losses, and restated the notes to the financial statements of 2020.
(III) the above error correction matters have been deliberated and adopted at the 23rd Meeting of the 11th board of directors and the 21st Meeting of the 11th board of supervisors held on February 14, 2022.
2、 The impact of important early errors on the company's financial status and operating results
(I) impact on the consolidated balance sheet
1. December 31, 2020
Unit: Yuan
Amount before project adjustment amount after adjustment
Capital reserve 334659384.31 2929232.87 337588617.18
Undistributed profit -611677602.27 -2929232.87 -614606835.14
2. June 30, 2021
Unit: Yuan
Amount before project adjustment amount after adjustment
Capital reserve 337465049.34 8268201.36 345733250.70
Undistributed profit -605580744.64 -8268201.36 -613848946.00
(II) impact on the balance sheet of the parent company
1. December 31, 2020
Unit: Yuan
Amount before project adjustment amount after adjustment
Amount before project adjustment amount after adjustment
Capital reserve 1166794614.83 2929232.87 1169723847.70
Undistributed profit -736948526.56 -2929232.87 -739877759.43
2. June 30, 2021
Unit: Yuan
Amount before project adjustment amount after adjustment
Capital reserve 11695996072.36 8268201.36 1177864273.72
Undistributed profit -749454471.29 -8268201.36 -757722672.65
(III) impact on consolidated income statement
1. Year 2020
Unit: Yuan
Amount before project adjustment amount after adjustment
Financial expenses -2573474.07 2929232.87 355758.80
Net profit 27790823.52 -2929232.87 24861590.65
Net profit attributable to the owner of the parent company: 13048572.57 -2929232.87 10119339.70
Total comprehensive income 31534234.12 -2929232.87 28605001.25
Total comprehensive income attributable to the owner of the parent company 20350698.04 -2929232.87 17421465.17
2. January June 2021
Unit: Yuan
Amount before project adjustment amount after adjustment
Financial expenses 4716395.47 5338968.49 10055363.96
Net profit 32630224.05 -5338968.49 27291255.56
Net profit attributable to owners of parent company: 6096857.63 -5338968.49 757889.14
Total comprehensive income 29534919.13 -5338968.49 24195950.64
Total comprehensive income attributable to owners of parent company: 4640055.70 -5338968.49 -698912.79
(IV) impact on the profit statement of the parent company in 2020
1. Year 2020
Unit: Yuan
Amount before project adjustment amount after adjustment
Financial expenses 1604133.68 2929232.87 4533366.55
Net profit -12623345.83 -29232.87 -15552578.70
Total comprehensive income -12623345.83 -2929232.87 -15552578.70
2. January June 2021
Unit: Yuan
Amount before project adjustment amount after adjustment
Financial expenses 2793104.49 5338968.49 8132072.98
Net profit -12505944.73 -5338968.49 -17844913.22
Total comprehensive income -12505944.73 -5338968.49 -17844913.22
3、 Impact of accounting error correction on profit forecast and performance commitment related to major restructuring
The correction of accounting errors does not involve the adjustment of the relevant financial statements of the subject company of major asset restructuring (Shenzhen huaxinke Technology Co., Ltd. and world style Technology Holdings Limited) in 2020 and 2021, and has no impact on the relevant profit forecast and performance commitment of the subject company.
4、 Opinion of accounting firm
Tianjian Certified Public Accountants (special general partnership) has issued relevant assurance reports on the correction of accounting errors of the company. The accountant believes that, The notes on the correction of important prior period errors prepared by the management of the company comply with the accounting standards for Business Enterprises No. 28 - changes in accounting policies and accounting estimates and error correction and the rules for the preparation of information disclosure of companies offering securities to the public No. 19 - correction and related disclosure of financial information (revised in 2020) (CSRC announcement [2020] No. 20) The relevant provisions of the company truthfully reflect the correction of important errors in the company's financial statements for 2020 and January June 2021.
5、 Opinions of the board of directors, the board of supervisors and independent directors
(I) opinions of the board of directors
The correction of the company's accounting errors in the previous period complies with the relevant provisions of the accounting standards for Business Enterprises No. 28 - changes in accounting policies and accounting estimates and error correction and the rules for the preparation of information disclosure of companies offering securities to the public No. 19 - correction and related disclosure of financial information, The corrected financial statements can more fairly reflect the company's financial situation and operating results, and there is no damage to the interests of the company and all shareholders. Therefore, we agree to the correction of accounting errors and retrospective restatement.
(II) opinions of the board of supervisors
The correction of accounting errors of the company in the previous period complies with the accounting standards for Business Enterprises No. 28 - changes in accounting policies and accounting estimates and correction of errors
