Securities code: 002947 securities abbreviation: Suzhou Hengmingda Electronic Technology Co.Ltd(002947) Announcement No.: 2022-043 Suzhou Hengmingda Electronic Technology Co.Ltd(002947)
Announcement on changes in accounting policies
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
Suzhou Hengmingda Electronic Technology Co.Ltd(002947) (hereinafter referred to as "the company") convened the 25th meeting of the second board of directors and the 18th meeting of the second board of supervisors on February 21, 2022, considered and adopted the proposal on changes in accounting policies. This accounting policy change is an adjustment made in accordance with the relevant accounting standards revised by the Ministry of Finance and will not have a significant impact on the company's profit and loss, total assets, net assets, etc. This change does not need to be considered by the general meeting of shareholders. The relevant information is hereby announced as follows:
1、 Changes in accounting policies
(I) reasons for change
On December 7, 2018, the Ministry of Finance revised and issued the accounting standards for Business Enterprises No. 21 - leasing (2018 Revision) (CK [2018] No. 35) (hereinafter referred to as the "new leasing standards"). According to the requirements of the Ministry of finance, enterprises listed at home and abroad and enterprises listed abroad and preparing financial statements using international financial reporting standards or accounting standards for business enterprises shall be implemented as of January 1, 2019; Other enterprises that implement the accounting standards for business enterprises shall be implemented as of January 1, 2021. Due to the revision of the above accounting standards, the relevant accounting policies originally adopted shall be adjusted accordingly.
(II) date of change
According to the regulations, the company will implement the new leasing standards from January 1, 2021.
(III) accounting policies adopted by the company before change
Before the change of accounting policy, the company implemented the accounting standards for Business Enterprises No. 21 - leasing issued by the Ministry of Finance in 2006 and its relevant provisions.
(IV) accounting policies adopted by the company after change
After this accounting policy change, the company will implement the accounting standards for Business Enterprises No. 21 - leasing revised and issued by the Ministry of Finance in 2018. Other unchanged parts shall still be implemented in accordance with the relevant provisions of the original accounting policies.
(V) main contents of this accounting policy change
1. The new lease standard stipulates that except for short-term leases and low value asset leases, the lessee will no longer distinguish between financial leases and operating leases. All leases will adopt the same accounting treatment and must recognize "right to use assets" and "lease liabilities".
2. For the "right to use assets", if the lessee can reasonably determine that it obtains the ownership of the leased assets at the expiration of the lease term, it shall accrue depreciation within the remaining service life of the leased assets; If it is impossible to reasonably determine that the ownership of the leased asset can be obtained at the expiration of the lease term, depreciation shall be accrued within the shorter of the lease term and the remaining service life of the leased asset; At the same time, the lessee shall determine whether the "right to use asset" is impaired, and account for the identified impairment loss.
3. For the "lease liability", the lessee shall calculate the interest expense of the lease liability in each period of the lease term and record it into the current profit and loss.
4. For short-term leases and low value asset leases, the lessee may choose not to recognize the "right to use assets" and "lease liabilities", and include them in the relevant asset costs or current profits and losses according to the straight-line method or other systematic and reasonable methods in each period of the lease term. 2、 Impact of this accounting policy change on the company
According to the provisions on the connection between the old and new standards, the company has carried out accounting treatment in accordance with the new leasing standards since January 1, 2021, and chose to adjust the amount of retained earnings at the beginning of the period and other relevant items in the financial statements according to the cumulative impact of the first implementation of the new leasing standards, without adjusting the information of the comparable period. This accounting policy change does not involve retroactive adjustment of the company's previous years. The above changes in accounting policies will not have a significant impact on the company's financial position, operating results and cash flow.
3、 Review procedures of this accounting policy change
(I) opinions of the board of directors
The board of directors of the company reviewed and approved this matter. For details, see the announcement on the resolution of the 25th meeting of the Suzhou Hengmingda Electronic Technology Co.Ltd(002947) second board of directors (Announcement No.: 2022-023) disclosed by the company on February 22, 2022.
（2） Opinions of independent directors
For the independent opinions agreed by the independent directors on this matter, see the independent opinions of Suzhou Hengmingda Electronic Technology Co.Ltd(002947) independent directors on matters related to the 25th meeting of the second board of directors disclosed by the company on February 22, 2022
（3） Opinions of the board of supervisors
The board of supervisors of the company reviewed and approved this matter. For details, see the announcement on the resolution of the 18th meeting of the Suzhou Hengmingda Electronic Technology Co.Ltd(002947) second board of supervisors (Announcement No.: 2022-024) disclosed by the company on February 22, 2022.
It is hereby announced.
Suzhou Hengmingda Electronic Technology Co.Ltd(002947) board of directors
February 21, 2022
