Stock abbreviation: Shanghai Jahwa United Co.Ltd(600315) Stock Code: Shanghai Jahwa United Co.Ltd(600315) No.: pro 2022016
Shanghai Jahwa United Co.Ltd(600315)
Supplementary announcement on the announcement of changes in accounting policies
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 individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
According to the question and answer on the implementation of accounting standards for business enterprises issued by the Ministry of Finance in 2021, the transportation costs incurred before the control of goods is transferred to customers and for the performance of sales contracts are reclassified from sales expenses to operating costs.
The company disclosed Shanghai Jahwa United Co.Ltd(600315) announcement on changes in accounting policies on March 17, 2022, which is supplemented as follows:
1、 Changes in accounting policies
(I) reasons for this accounting policy change
According to the question and answer on the implementation of accounting standards for business enterprises issued by the Ministry of Finance on November 2, 2021, for the transportation costs incurred before the control of goods is transferred to customers and for the performance of sales contracts, all the sales expenses are reclassified to operating costs.
The interpretation of accounting standards for Business Enterprises No. 14 issued by the Ministry of Finance in 2021 stipulates the accounting treatment of changes in the basis for determining the contractual cash flow of financial assets or financial liabilities caused by the reform of benchmark interest rate. (II) date of this accounting policy change
The company will implement the changed accounting policies from January 1, 2021.
For the accounting treatment of transportation costs incurred for the performance of sales contracts before the control of goods is transferred to customers, the amount in the same period of last year shall be retroactively adjusted.
(III) accounting policies adopted before change
Before this change, 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.
(IV) accounting policies adopted after change
The revised accounting standards for business enterprises (No. 14 of the Ministry of finance of the people’s Republic of China) and the revised accounting standards for business enterprises (No. 22 of the Ministry of finance of the people’s Republic of China in 2017) will be issued and implemented. Other unchanged parts shall still be implemented in accordance with the relevant standards and other relevant provisions issued by the Ministry of Finance in the early stage.
2、 Specific contents of this accounting policy change
According to the question and answer on the implementation of accounting standards for business enterprises issued by the Ministry of Finance in 2021, the transportation costs incurred before the control of goods is transferred to customers and for the performance of sales contracts are reclassified from sales expenses to operating costs.
When preparing the 2021 financial statements, the company has adopted the accounting treatment of the change in the determination basis of the contractual cash flow of financial assets or financial liabilities caused by the reform of the benchmark interest rate in the interpretation of accounting standards for Business Enterprises No. 14. As of December 31, 2021, the company has not changed the contract terms to replace the reference benchmark interest rate.
3、 Impact of this accounting policy change on the company
The above changes will affect the “operating costs” and “selling expenses” in the company’s income statement, but will not affect the company’s “operating revenue” and “operating profit”, and will not have a significant impact on the company’s financial status and operating results.
Supplement:
1. The above changes will affect the “operating costs” and “selling expenses” in the company’s profit statement, but will not affect the company’s “operating revenue” and “operating profit”. It is expected to have an impact on the company’s “gross profit margin” and other financial indicators, and will not have a significant impact on the company’s financial status and operating results.
2. The company will retroactively adjust the relevant subjects of the 2020 financial statements, and the specific adjustments are as follows:
Affected amount
Affected
Contents and reasons for reclassification report project 2020
Consolidated statement parent company statement
For the transportation costs incurred before the transfer of commodity control to sales expenses -28604621884 -65820886 to customers and for the performance of sales contracts with operating costs of 28604621884 and 65820886, the group and the company reclassify all their self sales expenses to operating costs
4、 Relevant approval procedures for this accounting policy change
The accounting policy change was reviewed and approved by the second session of the 8th board of directors and the second session of the 8th board of supervisors of the company.
(I) opinions of the board of directors
This accounting policy change is a reasonable change made by the company in accordance with the relevant notices and regulations issued by the Ministry of finance, so that the company’s accounting policies comply with the provisions of relevant laws and regulations, relevant decision-making procedures comply with the provisions of relevant laws and regulations, normative documents and the articles of Association, and there is no damage to the interests of the company and shareholders. (II) opinions of the board of supervisors
According to the relevant accounting standards and document requirements of the Ministry of finance, the company has changed the relevant accounting policies of the company, which is in line with the laws and regulations and the actual operation of the company, and there is no damage to the rights and interests of the company and all shareholders, especially the majority of minority shareholders. Agree to the change of the company’s accounting policy.
5、 Documents for future reference 1. Resolutions of the second session of the 8th board of directors of the company; 2. Resolution of the second session of the 8th board of supervisors of the company. It is hereby announced
Shanghai Jahwa United Co.Ltd(600315) board of directors March 17, 2022
