Xinjiang Zhongtai Chenical Co.Ltd(002092)
Year 2021
audit report
Index page number
Audit report financial statements of the company
- consolidated balance sheet 1-2
- balance sheet of parent company 3-4
- consolidated income statement 5
- income statement of the parent company 6
- consolidated cash flow statement 7
- cash flow statement of the parent company 8
- Consolidated Statement of changes in shareholders' equity 9-10
- statement of changes in shareholders' equity of the parent company 11-12
- Notes to financial statements 13-127
audit report
Xyzh / 2022bjaa150003 Xinjiang Zhongtai Chenical Co.Ltd(002092) all shareholders:
1、 Audit opinion
We have audited the financial statements of Xinjiang Zhongtai Chenical Co.Ltd(002092) (hereinafter referred to as " Xinjiang Zhongtai Chenical Co.Ltd(002092) "), including the consolidated and parent company's balance sheet as of December 31, 2021, the consolidated and parent company's income statement, consolidated and parent company's cash flow statement, consolidated and parent company's statement of changes in shareholders' equity and notes to relevant financial statements in 2021.
In our opinion, the attached financial statements are prepared in accordance with the accounting standards for business enterprises in all material aspects, and fairly reflect the financial position of the consolidated and parent company as of December 31, 2021 and the operating results and cash flows of the consolidated and parent company in 2021.
2、 Basis for forming audit opinions
We conducted our audit in accordance with the auditing standards for Chinese certified public accountants. The "responsibilities of certified public accountants for the audit of financial statements" in the audit report further expounds our responsibilities under these standards. In accordance with the code of professional ethics for Chinese certified public accountants, we are independent of Xinjiang Zhongtai Chenical Co.Ltd(002092) and have fulfilled other responsibilities in terms of professional ethics. We believe that the audit evidence we have obtained is sufficient and appropriate, which provides a basis for our audit opinion.
3、 Key audit matters
The key audit matters are the most important matters that we consider to audit the current financial statements according to our professional judgment. The response to these matters is based on the overall audit of the financial statements and the formation of audit opinions. We will not express separate opinions on these matters.
1. Revenue recognition and cut-off matters
Countermeasures in key audit matters
The main business of Xinjiang Zhongtai Chenical Co.Ltd(002092) is polyvinyl chloride. For the recognition and cut-off of revenue, we have implemented the following audit procedures in the audit of vinyl resin (PVC), ionic membrane caustic soda and viscose short-range:
Production and sales of fiber, viscose yarn and other commodities (1) understand and evaluate the management and revenue recognition and cut-off trade, transportation services, etc. In 2021, the design and operation effectiveness of key internal controls related to merger; The operating revenue is 62.463 billion yuan, Xinjiang Zhongtai Chenical Co.Ltd(002092) products (2) through the management interview, select samples to check that the revenue generated by sales is recognized when the control of goods has been contracted and the control of related goods or services obtained with customers is transferred to customers. According to the contract terms and conditions related to the sales contract right, evaluate Xinjiang Zhongtai Chenical Co.Ltd(002092) revenue agreement. If the customer specifies the delivery place of goods, confirm whether the time point meets the requirements of the accounting standards for business enterprises; The company confirms the receipt when delivering goods and obtaining the customer's signature. (3) analyze the change of the company's income month by month, and analyze whether it is in; Under the customer pick-up mode, the customer picks up the goods by himself. Whether there are seasonal sales characteristics, and the revenue will be recognized after being confirmed by both parties with the change of revenue in the same industry; Compare and analyze the customers agreed in the contract; If the company is entrusted to handle the freight of goods, Sinochem (4) analyzes the changes in the gross profit margin of the company's sales, analyzes the changes in the gross profit margin of major customers and products when the company delivers the goods to the transporter according to the contract, and recognizes the income after completing the agency transportation procedures. Whether there are abnormal conditions;
As revenue is the key industry of Xinjiang Zhongtai Chenical Co.Ltd(002092) . (5) select one of the sample performance indicators of sales transactions before and after the balance sheet date, so there is a risk that the management will check the sample of relevant supporting documents (including the invoice and the documents that the customer manipulates the revenue to confirm the received goods to meet the specific goals or expectations) in order to achieve the cost, and pay attention to the risk of whether to recognize the time point after the period, We identified Xinjiang Zhongtai Chenical Co.Ltd(002092) revenue with large returns to verify whether the corresponding revenue is included in recognition and cut-off as key audit matters. Appropriate accounting period;
(6) According to the characteristics and nature of customer transactions, select samples to execute letters of confirmation to determine the amount of operating revenue and the balance of accounts receivable and advances received;
(7) Check whether the information related to income has been properly presented in the financial statements.
2. Provision for asset impairment
Countermeasures in key audit matters
As of December 31, 2021, the book value of fixed assets in the audit procedures related to the evaluation of the provision for impairment of fixed assets of Zhongtai chemical was 34.6 billion yuan, including the following procedures:
47.35% of the total consolidated assets. (1) we understand and evaluate Xinjiang Zhongtai Chenical Co.Ltd(002092) production equipment and other systems related to the production of internal control products related to the identification of fixed assets, mainly including plant and buildings, signs of impairment of main assets and the calculation of recoverable amount;
Equipment.
Xinjiang Zhongtai Chenical Co.Ltd(002092) fixed assets confirmed in 2021 (2) we investigated the relevant fixed assets on the spot and confirmed that the asset impairment loss was RMB 113.4215 million, and implemented the supervision procedure to understand whether the assets had process technology yuan. Problems such as backwardness and long-term idleness, as well as load rate; Due to the unfavorable market conditions in the region where the operation is located (3) we have made use of the work of external evaluation experts, the evaluation documents and the impact of the economic environment, and the rationality of the recoverable gold company's continuous operation loss and part of the amount estimated by the management of Xinjiang Zhongtai Chenical Co.Ltd(002092) for the asset group in recent three years;
The fixed assets are idle. The management believes that (4) we have reviewed the Xinjiang Zhongtai Chenical Co.Ltd(002092) management's evidence of impairment of economic related fixed assets, and the key assumptions and important parameters adopted for the depreciation of fixed assets, including that the book value of this asset may not be compared with the supporting evidence through the disposal of some assumptions and parameters.
The property is fully recovered.
Management subtracts disposal fees from fair value
Net amount after use and after considering economic depreciation
Determine the recoverable amount of fixed assets. To determine capital
The estimated disposal value of the property, which will involve significant
Management's judgment, especially in estimating the fair value
Value, disposal cost and economic depreciation.
As the provision for impairment of fixed assets is determined
It involves significant management judgment, especially in the evaluation
There are problems in the recoverable amount of fixed assets
There is uncertainty and may be affected by management
For the influence of bias, we will evaluate Xinjiang Zhongtai Chenical Co.Ltd(002092) solid
The provision for impairment of fixed assets is identified as a key audit matter
Item.
4、 Other information
Xinjiang Zhongtai Chenical Co.Ltd(002092) is responsible for other information. Other information includes the information covered in the annual report of Xinjiang Zhongtai Chenical Co.Ltd(002092) 2021, but does not include the financial statements and our audit report.
Our audit opinion on the financial statements does not cover other information, and we will not issue any form of assurance conclusion on other information.
In combination with our audit of the financial statements, our responsibility is to read other information and consider whether other information is materially inconsistent with the financial statements or the information we have learned in the audit process, or there seems to be material misstatement.
Based on the work we have performed, if we determine that there is a material misstatement in other information, we should report that fact. In this regard, we have nothing to report.
5、 Responsibilities of management and governance for financial statements
The management is responsible for preparing the financial statements in accordance with the provisions of the accounting standards for business enterprises to achieve a fair reflection, and designing, implementing and maintaining necessary internal control so that the financial statements are free from material misstatement caused by fraud or error.
In preparing the financial statements, the management is responsible for assessing the going concern ability of Xinjiang Zhongtai Chenical Co.Ltd(002092) , disclosing matters related to going concern (if applicable), and applying the going concern assumption, unless the management plans to liquidate Xinjiang Zhongtai Chenical Co.Ltd(002092) , terminate the operation or has no other realistic choice.
The management is responsible for supervising the financial reporting process of Xinjiang Zhongtai Chenical Co.Ltd(002092) .
6、 Responsibilities of certified public accountants for the audit of financial statements
Our goal is to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement due to fraud or error, and issue an audit report containing audit opinions. Reasonable assurance is a high-level assurance, but it does not guarantee that the audit performed in accordance with the audit standards will always be found when a major misstatement exists. Misstatement may be caused by fraud or error. If it is reasonably expected that the misstatement alone or in summary may affect the economic decisions made by the users of the financial statements based on the financial statements, the misstatement is generally considered to be significant.
In the process of carrying out the audit work in accordance with the audit standards, we use professional judgment and maintain professional doubt. At the same time, we also carry out the following work:
(1) Identify and assess the risks of material misstatement of financial statements due to fraud or error, design and implement audit procedures to deal with these risks, and obtain sufficient and appropriate audit evidence as the basis for issuing audit opinions. Since fraud may involve collusion, forgery, intentional omission, misrepresentation or override of internal control, the risk of failing to find major misstatement caused by fraud is higher than that caused by error.
(2) Understand the internal control related to audit to design appropriate audit procedures.
(3) Evaluate the appropriateness of accounting policies selected by the management and the rationality of accounting estimates and related disclosures.
(4) Draw conclusions on the appropriateness of management's use of going concern assumptions. At the same time, according to the audit evidence obtained, draw a conclusion on whether there are major uncertainties in the matters or circumstances that may lead to major doubts about Xinjiang Zhongtai Chenical Co.Ltd(002092) going concern ability. If we conclude that there is significant uncertainty, the auditing standards require us to draw the attention of statement users to the relevant disclosures in the financial statements in the audit report; If the disclosure is insufficient, we should express a non unqualified opinion. Our conclusions are based on the information available as of the date of the audit report. However, future events or circumstances may result in Xinjiang Zhongtai Chenical Co.Ltd(002092) being unable to continue as a going concern.
(5) Evaluate the overall presentation, structure and content (including disclosure) of the financial statements, and evaluate whether the financial statements fairly reflect relevant transactions and events.
(6) Obtain sufficient and appropriate audit evidence on the financial information of the entity or business activities in Xinjiang Zhongtai Chenical Co.Ltd(002092) to express an audit opinion on the financial statements. We are responsible for guiding, supervising and implementing the group audit, and take full responsibility for the audit opinions. We communicated with the management on the planned audit scope, schedule and major audit findings, including the internal control defects that we identified in the audit.
We also provide a statement to the management that we have complied with the professional ethics requirements related to independence, and communicate with the management all relationships and other matters that may reasonably be considered to affect our independence, as well as relevant preventive measures (if applicable). From the matters communicated with the management, we determine which matters are the most important for the audit of the current financial statements, thus constituting key audit matters. We describe these matters in the audit report, unless laws and regulations prohibit public disclosure of these matters, or in rare cases, if we reasonably expect to communicate a matter in the audit report, the negative consequences will exceed those in the company
Consolidated balance sheet
December 31, 2021
Prepared by: Xinjiang Zhongtai Chenical Co.Ltd(002092) unit: RMB
Project notes December 31, 2021 December 31, 2020
Current assets:
Monetary capital VI. 1 4783627538.39 5190659,
