Securities code: 300436 securities abbreviation: Fujian Cosunter Pharmaceutical Co.Ltd(300436) Announcement No.: 2022017 Fujian Cosunter Pharmaceutical Co.Ltd(300436)
On the transfer of recognized development expenditure to expense and
Announcement of provision for asset impairment
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.
Important note: the recognition of the transfer of development expenditure to expense and the provision for asset impairment will reduce the net profit attributable to the owner of the parent company in the consolidated statement of 2021 by 9.3907 million yuan. The company’s 2021 annual performance forecast has taken into account the impact of the above matters on the performance, and will not cause amendments to the contents of 2021 annual performance forecast.
Fujian Cosunter Pharmaceutical Co.Ltd(300436) (hereinafter referred to as “the company”) held the 11th meeting of the 4th board of directors and the 10th meeting of the 4th board of supervisors on February 16, 2022, deliberated and approved the proposal on the transfer of development expenditure to expense and the provision for asset impairment, and agreed to transfer the development expenditure of some R & D projects to expense and the provision for asset impairment of some assets, The total amount is 9.3907 million yuan. The details are hereby announced as follows:
1、 The basic information of the R & D project development expenditure transferred to expense and the provision for asset impairment 1. The R & D project development expenditure transferred to expense is recognized this time
At the end of each year, the company reassessed the R & D projects with the advice of professional departments. After careful judgement, the company decided to terminate the Tenofovir disoproxil fumarate tablets (adult AIDS HIV) project. The company’s tenofovir fumarate dipivoxil tablets (HIV) project has completed the be clinical trial, and is sorting out the be clinical trial report, which is to be applied for production registration. Previously, the goal of the project continued to be based on the sale of fumaric acid, tenofovir, two furofuroxime (HBV) product, which is approved for sale and sale, to achieve differentiated sales through the addition of HIV indications. In view of the fierce market competition and the obvious decline in drug prices under the environment of national centralized drug purchase, it is expected that the differentiated sales target is difficult to achieve and the return on investment is low, so the project will be terminated.
As of December 31, 2021, the accumulated development expenditure balance of the project was 7.2634 million yuan, and the relevant development expenditure was transferred to expense treatment. The amount of relevant R & D expenditure will be confirmed to be 7.2634 million yuan in 2021.
2. The provision for asset impairment is recognized and withdrawn this time
Based on the principle of prudence, in accordance with the accounting standards for business enterprises, the guidelines for self regulation and supervision of listed companies of Shenzhen Stock Exchange No. 2 – standardized operation of companies listed on GEM and the company’s accounting policies, in order to more truly and accurately reflect the company’s financial position and operating results as of December 31, 2021, The company and its subsidiaries within the scope of consolidation conducted impairment tests on various assets at the end of 2021, and made provision for impairment of assets with signs of impairment.
The company’s assets with impairment provision this time include accounts receivable and inventory. The total amount of impairment provision is 2.2173 million yuan, all of which are included in 2021. The details are as follows:
Unit: 10000 yuan
Amount of provision for impairment of the project
1、 Bad debt provision 56.43
Including: accounts receivable 56.43
2、 Inventory falling price reserves (Note 1) 156.30
Total 212.73
Note 1: the provision for inventory impairment mainly refers to the provision for asset impairment of inventory Ganoderma lucidum capsules. The company produced Ganoderma lucidum capsules in 2020. After the products were put on the market, the sales situation was poor, the product was at high risk of unsalable, and the current market price was far lower than the production cost. As of December 31, 2021, the book balance of inventory Ganoderma lucidum capsule was 1.433 million yuan, and it is planned to fully withdraw the asset impairment provision of 1.433 million yuan.
3. Approval procedures of the company
The transfer of R & D project development expenditure to expense and the provision for asset impairment have been deliberated and approved at the 11th meeting of the 4th board of directors and the 10th meeting of the 4th board of supervisors of the company, and need not be submitted to the general meeting of shareholders for deliberation.
2、 The impact of the transfer of R & D expenditure to expense and the provision for asset impairment on the company
1. Explanation of rationality
The transfer of R & D project development expenditure to expense and the provision for asset impairment comply with the accounting standards for business enterprises and relevant accounting policies of the company. The basis is sufficient, reflects the principle of accounting prudence, conforms to the actual situation of the company, and can more fairly reflect the assets and operating conditions of the company in 2021, without damaging the interests of the company and shareholders.
2. Impact on the company
This time, the company’s R & D project development expenditure is transferred to expense and the provision for asset impairment is RMB 9.3907 million, which correspondingly reduces the net profit attributable to the owner of the parent company in the consolidated statement of the company in 2021 by RMB 9.3907 million and the equity attributable to the owner of the parent company in the consolidated statement of the company in 2021 by RMB 9.3907 million. The 2021 annual performance forecast disclosed by the company on January 29, 2022 has taken into account the impact of the above matters on the performance and will not cause any amendment to the contents of the 2021 annual performance forecast.
The transfer of R & D expenditure to expense and the provision for asset impairment of the company’s R & D project have not been audited, and the final data will be subject to the annual audit report issued by the accounting firm.
3、 Explanation of the board of directors on the reasonableness of the transfer of R & D expenditure to expense and the provision for asset impairment
The transfer of R & D project development expenditure to expense and the provision for asset impairment of the company comply with the accounting standards for business enterprises and other relevant regulations, reflect the principle of accounting prudence, comply with the actual situation of the company, and can more truly reflect the financial status and asset value of the company.
4、 Review opinions of the board of supervisors on the transfer of R & D expenditure to expense and the provision for asset impairment
The board of supervisors believes that the transfer of R & D project development expenditure to expense and the provision for asset impairment of the company comply with the relevant provisions of the accounting standards for business enterprises and the actual situation of the company, can more objectively, fairly and truly reflect the financial status and asset value of the company, and there is no damage to the interests of the company and all shareholders, especially small and medium-sized shareholders, Agree to the company’s current provision for asset impairment.
5、 Documents for future reference
1. Resolutions of the 11th meeting of the 4th board of directors;
2. Resolution of the 10th meeting of the 4th board of supervisors.
It is hereby announced!
Fujian Cosunter Pharmaceutical Co.Ltd(300436) board of directors February 16, 2022
