Securities code: Hunan Yujing Machinery Co.Ltd(002943) securities abbreviation: Hunan Yujing Machinery Co.Ltd(002943) Announcement No.: 2022015 Hunan Yujing Machinery Co.Ltd(002943)
Announcement on changes in accounting estimates
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.
Hunan Yujing Machinery Co.Ltd(002943) (hereinafter referred to as " Hunan Yujing Machinery Co.Ltd(002943) " or "the company") deliberated and adopted the proposal on changes in accounting estimates at the 9th meeting of the 4th board of directors and the 9th meeting of the 4th board of supervisors held on March 2, 2022. The relevant matters are hereby announced as follows:
1、 Overview of changes in accounting estimates
1. Reason for change
According to the relevant provisions of the accounting standards for Business Enterprises No. 22 - recognition and measurement of financial instruments, in order to more reasonably reflect the future expected credit loss of notes receivable and provide investors with more reliable and accurate accounting information, the company reviewed the expected credit loss of notes receivable in combination with the current situation and the prediction of future economic conditions, Adjust the expected credit loss rate divided into commercial acceptance bills to reflect the company's financial status and operating results more objectively and fairly.
2. Accounting estimates adopted by the company before the change
The expected credit loss rate of commercial acceptance bill portfolio of notes receivable is 0%.
3. Accounting estimates adopted by the company after change
The measurement method of the expected credit loss of the commercial acceptance bill portfolio of notes receivable refers to the accounts receivable and is withdrawn according to the aging and the expected credit loss rate of the whole duration. The specific details of the expected credit loss rate are as follows:
Aging expected credit loss rate (%)
5.00% within 1 year
10.00% in 1-2 years
2-3 years 15.00%
30.00% in 3-4 years
4-5 years 50.00%
Over 100.00 5%
3. Change date
The change of accounting estimates will be implemented from January 1, 2021.
2、 Impact of this accounting estimate change 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 this change in accounting estimates, and there is no need to make retroactive adjustment to the disclosed financial reports, which will not have an impact on the disclosed audited financial statements of the company.
1. Impact on audited net profit and shareholders' equity of the latest fiscal year
Since the impact of this change in accounting estimates on the audited net profit and shareholders' equity in the latest fiscal year (2020) does not exceed 50%, according to the relevant provisions of the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange, this change in accounting estimates does not need to be submitted to the general meeting of shareholders of the company for deliberation.
2. Impact on current period
According to the preliminary calculation, after the change of accounting estimate, the net profit in 2021 is expected to be reduced by about 3.536 million yuan, and the shareholder's equity in 2021 is expected to be reduced by about 3.536 million yuan, which will not change the nature of the company's profit and loss in 2021. The final impact will be subject to the audited financial data in 2021.
3、 Review procedure
According to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange, the change of the company's accounting estimate is reviewed by the board of directors and does not need to be submitted to the general meeting of shareholders for review.
1. Opinions of the board of directors of the company
The board of directors of the company believes that the change of accounting estimate is a reasonable change according to the requirements of the Ministry of Finance and complies with relevant regulations. The changed accounting estimate can objectively and fairly reflect the company's financial status and operating results, will not have a significant impact on the company's financial statements, and will not damage the interests of the company and all shareholders, especially minority shareholders. Agree to this accounting estimate change.
2. Opinions of the board of supervisors
The board of supervisors believes that the change of accounting estimates is made in accordance with the requirements of relevant documents of the Ministry of Finance and meets the requirements of self regulatory guidelines for listed companies of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board and relevant laws and regulations. This change will not have a significant impact on the company's financial statements and will not damage the company and all shareholders Especially for the interests of minority shareholders, we agree to the change of accounting estimates of the company.
3. Opinions of independent directors
The independent directors believe that: the company changes the accounting estimates of the company in accordance with the relevant provisions and requirements of the Ministry of finance. The changed accounting estimates comply with the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shenzhen Stock Exchange, can objectively and fairly reflect the financial status and operating results of the company, and are in the interests of the company and all shareholders. The decision-making procedure of this accounting estimate change complies with relevant laws, regulations and the articles of association, and does not harm the interests of the company and minority shareholders. We agree with the company's accounting estimate change.
4、 Documents for future reference
1. Resolutions of the 9th meeting of the 4th board of directors;
2. Resolutions of the 9th meeting of the 4th board of supervisors;
3. Independent opinions of independent directors on matters related to the ninth meeting of the Fourth Board of directors of the company.
It is hereby announced.
Hunan Yujing Machinery Co.Ltd(002943) board of directors March 2, 2022
