Securities code: 003038 securities abbreviation: Anhui Xinbo Aluminum Co.Ltd(003038) Announcement No.: 2022-024 Anhui Xinbo Aluminum Co.Ltd(003038)
Announcement on correcting accounting errors in the previous period
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.
1、 Correction overview
Anhui Xinbo Aluminum Co.Ltd(003038) (hereinafter referred to as “the company”) held the 15th meeting of the second board of directors and the 14th meeting of the second board of supervisors on February 24, 2022, and considered and adopted the proposal on correcting accounting errors in the previous period. According to the provisions of the accounting standards for Business Enterprises No. 14 – Revenue Application guide 2018 (prepared by the accounting department of the Ministry of Finance): “When the enterprise sells goods to customers and agrees that the enterprise needs to transport the goods to the place designated by the customer, the enterprise needs to judge whether the transportation activity constitutes a single performance obligation according to the time point of the transfer of control over the relevant goods. Generally, the transportation activities before the transfer of control to the customer do not constitute a single performance obligation, but only for the purpose of performance The relevant costs of the activities undertaken for the execution of the contract shall be regarded as the cost of contract performance; On the contrary, the transportation activities occurring after the transfer of control to the customer may indicate that the enterprise provides a transportation service to the customer, and the enterprise should consider whether the service constitutes a single performance obligation. ” Domestic listed companies shall be implemented as of January 1, 2020. In the case of implementing the new revenue standard, the transportation expenses of the company are the activities engaged in to perform the sales contract and belong to the contract performance cost. Since the inclusion of transportation expenses into sales expenses is in line with the basic spirit of the application guide of accounting standards for business enterprises – accounting subjects and main accounting treatment, and considering the comparability between 2020 and 2018-2019, the company originally included transportation expenses into sales expenses in 2020. After careful research, in order to more strictly implement the new revenue standard, the company corrected the performance transportation cost in the sales expense to be listed in the operating cost.
2、 Impact of serious accounting errors on the company’s financial position and operating results
(I) the impact of the above error correction on the financial position and operating results of the consolidated financial statements in the comparative period
The company adopts the retrospective restatement method to correct the above errors in the previous period, and the consolidated financial statements of 2020 are adjusted accordingly
The financial statements, the consolidated statements from January to March 2021, the semi annual consolidated statements of 2021 and the consolidated statements from January to September 2021 have been retroactively adjusted. The impact of retroactive adjustment on the relevant subjects of the consolidated financial statements is as follows:
Specific impact on the items and amounts of the consolidated financial statements in 2020:
Unit: RMB
Amount before adjustment amount after adjustment of report items in the affected comparison period
Item name
Operating cost 1078104619.83 11468196.35 1089572816.18
Selling expenses 21603414.53 -11468196.35 10135218.18
Specific impact on items and amounts of consolidated financial statements from January to March 2021:
Unit: RMB
Amount before adjustment amount after adjustment of report items in the affected comparison period
Item name
Operating cost 393160279.51 3394066.48 396554345.99
Selling expenses 6262239.54 -3394066.48 2868173.06
Specific impact on the items and amounts of the consolidated financial statements for the half year of 2021:
Unit: RMB
Amount before adjustment amount after adjustment of report items in the affected comparison period
Item name
Operating cost 849401002.72 7430409.73 856831412.45
Sales expenses 14947990.86 -7430409.73 7517581.13
Specific impact on items and amounts of consolidated financial statements from January to September 2021:
Unit: RMB
Amount before adjustment amount after adjustment of report items in the affected comparison period
Item name
Operating cost 149011551.17 12586828.39 1502598379.56
Selling expenses 24214766.33 -12586828.39 11627937.94
The amount involved in this accounting error correction only affects the operating costs and selling expenses in 2020, January March 2021, the half year of 2021 and January September 2021, and does not affect the total assets, total liabilities, total owner’s equity at the end of the previous reporting period, the total profits, net profits and net profits attributable to shareholders of the listed company, There are no circumstances that harm the interests of the company and shareholders. The correction of accounting errors has no impact on the items of consolidated balance sheet and consolidated statement of changes in shareholders’ equity.
(II) the impact of the above error correction events on the financial status and operating results of the parent company’s financial statements during the comparison period
The company adopts the retrospective restatement method to correct the above previous errors, and makes retrospective adjustments to the financial statements of the parent company in 2020, the statements of the parent company from January to March 2021, the half year of 2021 and the statements of the parent company from January to September 2021. The impact of the retrospective adjustment on the relevant subjects of the financial statements of the parent company is as follows:
Specific impact on the financial statement items and amounts of the parent company in 2020:
Unit: RMB
Amount before adjustment amount after adjustment of report items in the affected comparison period
Item name
Operating cost 867486649.90 9009332.72 876495982.62
Selling expenses 14746185.85 -9009332.72 5736853.13
Specific impact on items and amounts of consolidated financial statements from January to March 2021:
Unit: RMB
Amount before adjustment amount after adjustment of report items in the affected comparison period
Item name
Operating cost 384888687.39 2718169.64 387606857.03
Selling expenses 4550896.91 -2718169.64 1832727.27
Specific impact on the items and amounts of the parent company’s financial statements in the half year of 2021:
Unit: RMB
Amount before adjustment amount after adjustment of report items in the affected comparison period
Item name
Operating cost 755917623.55 5119275.33 761036898.88
Selling expenses 9614625.87 -5119275.33 4495350.54
Specific impact on the items and amounts of the parent company’s financial statements from January to September 2021:
Unit: RMB
Amount before adjustment amount after adjustment of report items in the affected comparison period
Item name
Operating cost 1306311042.04 7660536.73 1313971578.77
Selling expenses 14001948.25 – 7660536.73 63411.52
The amount involved in this accounting error correction only affects the operating costs and selling expenses in 2020, January March 2021, the half year of 2021 and January September 2021, and does not affect the total assets, total liabilities, total owner’s equity at the end of the previous reporting period, the total profits, net profits and net profits attributable to shareholders of the listed company, There is no situation that damages the interests of shareholders and the company.
This correction of accounting errors has no impact on the items of the parent company’s balance sheet and the parent company’s statement of changes in shareholders’ equity. 3、 Opinions of the board of directors
The board of directors of the company believes that the correction of accounting errors will not have an adverse impact on the company’s operating results and will not damage the legitimate rights and interests of the company and all shareholders. The board of directors agrees to the correction of accounting errors.
4、 Opinions of the board of supervisors
The board of supervisors of the company believes that the correction of accounting errors conforms to the actual operation and financial status of the company, can more truly, completely and fairly reflect the financial status and operating results of the company, provide investors with more accurate and reliable accounting information, and the relevant decision-making procedures comply with relevant laws and regulations and the articles of association, The board of supervisors agreed to the correction of the company’s accounting errors in the early stage without damaging the interests of the company and shareholders. 5、 Opinions of independent directors
The independent directors of the company believe that the correction of accounting errors conforms to the actual operation and financial situation of the company, can more truly, completely and fairly reflect the financial situation and operating results of the company, and provide investors with more accurate and reliable accounting information.
6、 Audit report on special instructions for correction of previous accounting errors issued by accounting firm
Rongcheng Certified Public Accountants (special general partnership) issued the special instructions on Anhui Xinbo Aluminum Co.Ltd(003038) 2020 accounting error correction (Rongcheng zhuanzi [2022] No. 230z0251) on February 24, 2022 for the correction and retrospective adjustment of the above previous accounting errors. After audit and verification, the accountant believes that the treatment of Anhui Xinbo Aluminum Co.Ltd(003038) above error correction is in line with the relevant provisions of the accounting standards for business enterprises. The company’s disclosure of the above information complies with the provisions of the accounting standards for Business Enterprises No. 28 – changes in accounting policies and accounting estimates and correction of errors, the rules for the preparation and reporting of information disclosure by companies offering securities to the public No. 19 – correction and related disclosure of financial information and other relevant documents of the China Securities Regulatory Commission.
7、 Documents for future reference
1. Resolution of the 15th meeting of the Anhui Xinbo Aluminum Co.Ltd(003038) second board of directors;
2. Resolution of Anhui Xinbo Aluminum Co.Ltd(003038) the 14th meeting of the second board of supervisors;
3. Independent director’s independent opinions on matters related to the 15th meeting of the second board of directors; 4. Special notes on Anhui Xinbo Aluminum Co.Ltd(003038) 2020 accounting error correction issued by Rongcheng accounting firm. It is hereby announced
