Securities code: Anhui Zhonghuan Environmental Protection Technology Co.Ltd(300692) securities abbreviation: Anhui Zhonghuan Environmental Protection Technology Co.Ltd(300692) Announcement No.: 2022009 Anhui Zhonghuan Environmental Protection Technology Co.Ltd(300692)
Announcement on changes in accounting policies
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 content tips:
This accounting policy change is a corresponding change made by Anhui Zhonghuan Environmental Protection Technology Co.Ltd(300692) (hereinafter referred to as “the company”) in accordance with the relevant accounting standards for business enterprises revised by the Ministry of finance, does not involve retroactive adjustment of previous years, and will not have a significant impact on the company’s financial position, operating results and cash flow.
1、 Overview of changes in accounting policies
1. Reason for change
On January 26, 2021, the Ministry of Finance issued the notice on printing and distributing the interpretation of accounting standards for Business Enterprises No. 14 (CAI Kuai [2021] No. 1) (hereinafter referred to as “Interpretation No. 14”), which clarified the accounting treatment of relevant social capital parties for government and social capital cooperation (PPP) project contracts. Interpretation No. 14 shall come into force as of the date of promulgation, and the new relevant businesses from January 1, 2021 to the date of implementation shall also be adjusted according to the interpretation. Due to the revision of the above accounting standards, the company needs to adjust the accounting policies of relevant PPP projects accordingly.
2. Change date
Implemented from January 1, 2021.
3. Change review procedure
The eighth meeting of the third board of directors and the eighth meeting of the third board of supervisors held on February 28, 2022 considered and adopted the proposal on changes in accounting policies. According to relevant regulations, this accounting policy change does not need to be submitted to the general meeting of shareholders for deliberation.
4. Accounting policies adopted before change
Before the change of accounting policy, the company implemented the accounting standards for business enterprises – basic standards, various specific accounting standards, application guidelines of accounting standards for business enterprises, interpretation announcement of accounting standards for business enterprises and other relevant regulations issued by the Ministry of finance.
5. Accounting policies adopted after change
After this accounting policy change, the company will implement the relevant provisions of Interpretation No. 14 revised and issued by the Ministry of finance. In addition to the above policy changes, other unchanged parts shall still be implemented in accordance with the accounting standards for business enterprises – basic standards, various specific accounting standards, application guidelines of accounting standards for business enterprises, interpretation announcement of accounting standards for business enterprises and other relevant provisions issued by the Ministry of Finance in the early stage.
2、 Impact of this accounting policy change on the company
This accounting policy change is made by the company in accordance with the requirements of the accounting standards and other documents revised and issued by the Ministry of finance. The changed accounting policy can objectively and fairly reflect the company’s financial status and operating results, comply with the provisions of relevant laws and regulations and the actual situation of the company, and will not have a significant impact on the company’s financial status and operating results, There is no situation that damages the interests of the company and shareholders.
3、 Deliberations of the board of directors
After deliberation, the board of directors considered that the company’s implementation of the notice on printing and distributing the interpretation of accounting standards for Business Enterprises No. 14 (CK [2021] No. 1) was carried out in accordance with the provisions of relevant documents of the Ministry of finance, in line with the provisions of relevant laws, regulations and accounting standards for business enterprises, and the accounting policies after the implementation of the changes can objectively and fairly reflect the company’s financial situation and operating results, It does not involve retroactive adjustment of previous years and will not have a significant impact on the company’s financial status, operating results and cash flow. There is no damage to the interests of the company and minority shareholders.
4、 Opinions of independent directors
The independent directors believe that the change of accounting policy is the change made by the company according to the requirements of accounting standards and other documents revised and issued by the Ministry of finance, which is in line with relevant regulations. The decision-making procedure of this accounting policy change complies with the provisions of relevant laws, regulations and the articles of association. This accounting policy change will not have a significant impact on the company’s financial position, operating results and cash flow, does not involve retroactive adjustment of previous years, and does not damage the interests of the company and shareholders, especially the interests of minority shareholders. We agree with this accounting policy change.
5、 Opinions of the board of supervisors
After deliberation, the board of supervisors considered that the change of accounting policies was a reasonable change made by the company in accordance with the requirements of accounting standards and other documents revised and issued by the Ministry of finance, and the relevant decision-making procedures were in line with relevant laws and regulations and the articles of association. This accounting policy change will not have a significant impact on the company’s financial status, operating results and cash flow, and will not involve retroactive adjustment of previous years. There is no situation that damages the interests of the company and shareholders, especially the interests of minority shareholders. The board of supervisors agreed to the change of the company’s accounting policy.
6、 Documents for future reference
1. Resolution of the 8th meeting of the 3rd board of directors of the company
2. Resolution of the 8th meeting of the 3rd board of supervisors of the company
3. Special instructions and independent opinions of independent directors on relevant matters
It is hereby announced.
Anhui Zhonghuan Environmental Protection Technology Co.Ltd(300692) board of directors March 2, 2022
