Securities code: 688598 securities abbreviation: Kbc Corporation Ltd(688598) Announcement No.: 2022-020
Convertible bond Code: 118001 convertible bond abbreviation: Jinbo convertible bond
Announcement on changes in accounting estimates
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and integrity of its contents according to law. Important content tips:
According to the relevant provisions of accounting standards for Business Enterprises No. 28 - changes in accounting policies, accounting estimates and error correction, the company adopts the future applicable method for the changes in accounting estimates, without retroactive adjustment to the company's disclosed financial statements, and will not have an impact on the financial status and operating results of previous years.
This change in accounting estimate will affect the depreciation amount of the company's fixed assets in 2022. After preliminary calculation, it is estimated that the depreciation amount of fixed assets in 2022 will be reduced by about 34.02 million yuan. Assuming that all the above depreciation amounts are carried forward to the current profit and loss, without considering the increase or decrease of the company's fixed assets, after deducting the impact of corporate income tax, It is estimated that the net profit of the company in 2022 will be increased by about 28.92 million yuan (the above data have not been audited, and the specific impact amount shall be subject to the 2022 annual audit report audited by accountants).
1、 Overview of changes in accounting estimates
In order to reflect the company's financial situation and operating results more objectively and fairly, make the depreciation life of assets closer to the service life of assets, and meet the needs of the company's business development and fixed assets management, Kbc Corporation Ltd(688598) (hereinafter referred to as "the company" or " Kbc Corporation Ltd(688598) ") carries out the service life of vapor deposition furnace according to the provisions of accounting standards for enterprises The estimated net residual value and depreciation method were reviewed, and the estimated service life of the vapor deposition furnace with specification and model of 34000l and above was re determined. The depreciation life was adjusted from the current 5 years to 10 years.
The second meeting of the board of supervisors on the change of accounting estimate of the company was held on February 25, 2022, and the proposal on the change of accounting estimate of the company was reviewed and adopted. The independent directors of the company expressed their independent opinions. This change in accounting estimates does not need to be submitted to the general meeting of shareholders for deliberation.
2、 Specific situation and impact on the company
(I) contents and reasons for changes in accounting estimates
1. Content of change
According to the actual situation of the company's fixed assets, the company decided to adjust the depreciation life of some fixed assets from January 1, 2022. The situation before and after the change is as follows:
Depreciation policy of fixed assets adopted by the company before change
Estimated annual depreciation rate of fixed assets
Category and name depreciation method specification model life residual value rate (%) (%)
call
machinery equipment
-The average age method of vapor deposition does not distinguish between 5.00 and 19.00
Accumulated furnace
Depreciation policy of fixed assets adopted by the company after change
Specification and model of depreciation method for fixed assets estimated residual value rate (%) annual depreciation rate (%) category and name life
Machinery and equipment - average age method 34000l at 5.00 19.00
Under the vapor deposition furnace
Machinery and equipment - average life method 34000l and 10.5.00 9.50
Above vapor deposition furnace
2. Reason for change
The accounting standards for Business Enterprises No. 4 - fixed assets stipulates that the enterprise shall review the service life, estimated net residual value and depreciation method of fixed assets at least at the end of each year. If the expected service life of fixed assets is different from the original estimate, the expected service life of fixed assets shall be adjusted.
The company reviewed the service life, estimated net residual value and depreciation method of the company's vapor deposition furnace in accordance with the above accounting standards for business enterprises.
The newly purchased vapor deposition furnace with specifications of 34000l and above can meet the needs of large-scale products in the future, and there is no risk of early elimination due to the increase of product size; In addition, considering the factors affecting the service life such as market foresight, corrosion loss and whether the heating area is separated, the older equipment of the newly purchased vapor deposition furnace with specification and model of 34000l and above has been optimized and improved. The specific conditions are as follows:
Service life factors old equipment new equipment
The market is forward-looking and large-size products cannot meet the energy consumption requirements of large-size products in the future after loading
The reactive gas is in contact with the furnace body in the high-temperature area, and the non reactive gas is in contact with the corrosion loss body in the high-temperature area, so that the steel sector of the furnace body is in contact with the body of the furnace body, and the raw carbonized steel sector of the furnace body will not be carbonized
In conclusion, the stability and service life of the newly purchased vapor deposition furnace with specifications of 34000l and above have been greatly improved, and the service life is expected to reach 10 years. In order to more objectively reflect the expected service life of the vapor deposition furnace, the company adjusted the depreciation life of the vapor deposition furnace with specification and model of 34000l and above from 5 years to 10 years in accordance with the relevant provisions of accounting standards and combined with the actual situation.
(II) impact of changes in accounting estimates on the company
According to the relevant provisions of accounting standards for Business Enterprises No. 28 - changes in accounting policies, accounting estimates and error correction, the company adopts the future applicable method for the changes in accounting estimates, without retroactive adjustment to the company's disclosed financial statements, and will not have an impact on the financial status and operating results of previous years.
Impact of changes in accounting estimates on the current period: it is estimated that the depreciation of fixed assets in 2022 will be reduced by about 34.02 million yuan. Assuming that all the above depreciation amounts are carried forward to the current profit and loss, without considering the increase or decrease of the company's fixed assets, after deducting the impact of enterprise income tax, It is estimated that the net profit of the company in 2022 will be increased by about 28.92 million yuan (the above data have not been audited, and the specific impact amount shall be subject to the 2022 annual audit report audited by accountants).
3、 Concluding observations of independent directors, board of supervisors and accounting firms
(I) opinions of independent directors
The change of accounting estimates complies with the relevant provisions of the accounting standards for Business Enterprises No. 28 - changes in accounting policies, accounting estimates and error correction and the actual operation of the company. The changed accounting estimates comply with the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shanghai Stock Exchange, can more accurately reflect the company's financial situation and operating results, and there is no situation that damages the interests of the company's shareholders, especially the minority shareholders; The review procedure of this accounting estimate change complies with the provisions of the company law of the people's Republic of China and other relevant laws and regulations and the articles of association. Therefore, all independent directors agree to the change of accounting estimates of the company.
(II) opinions of the board of supervisors
The board of supervisors of the company reviewed the accounting estimate change. The board of supervisors considered that the accounting estimate change of the company - the expected service life of the vapor deposition furnace with specification and model of 34000l and above was re determined, and the depreciation life was adjusted from 5 years to 10 years, which was a reasonable change according to the requirements of relevant documents of the Ministry of Finance and in line with the accounting standards for business enterprises and relevant regulations, In line with the actual situation of the company. The decision-making procedure of this accounting estimate change complies with the provisions of relevant laws, regulations and the articles of association, and there is no situation that damages the interests of the company and minority shareholders.
(III) opinions of accounting firm
Tianzhi International Certified Public Accountants (special general partnership) issued the audit report on the special description of Kbc Corporation Ltd(688598) accounting estimate change (Tianzhi Zi [2022] No. 3393-5) for this accounting estimate change, It is considered that the Kbc Corporation Ltd(688598) special instructions on changes in accounting estimates are prepared in all major aspects in accordance with the relevant provisions of the self regulatory guidelines for companies listed on the science and Innovation Board No. 3 - Daily Information Disclosure: No. 16 announcement on the correction of accounting errors, changes in accounting policies or accounting estimates of companies listed on the science and Innovation Board of Shanghai Stock Exchange, It truthfully reflects the changes in accounting estimates of Kbc Corporation Ltd(688598) .
It is hereby announced.
Kbc Corporation Ltd(688598) board of directors
February 26, 2022
