Shanghai Action Education Technology Co.Ltd(605098) audited financial statements for 2021
Shanghai Action Education Technology Co.Ltd(605098)
catalogue
Page audit report 1 – 7 audited financial statements
Consolidated balance sheet 8 – 9 consolidated income statement 10 – 11 consolidated statement of changes in shareholders’ equity 12 – 13 consolidated cash flow statement 14 – 15 company balance sheet 16 – 17 company income statement 18
Statement of changes in shareholders’ equity 19 – 20 cash flow statement 21 – 22 notes to financial statements 23 – 117 supplementary information
1. Detailed statement of non recurring gains and losses 1
2. Return on net assets and earnings per share 2
Shanghai Action Education Technology Co.Ltd(605098) notes to financial statements
RMB in 2021
1、 Basic information Shanghai Action Education Technology Co.Ltd(605098) (“the company”) is a joint stock limited company registered in Shanghai, the people’s Republic of China, which was established on March 27, 2006. The A shares of RMB common stock issued by the company have been listed on the Shanghai Stock Exchange. The company is headquartered in building a, Lane 168, Xinghong Road, Minhang District, Shanghai. The company and its subsidiaries (collectively referred to as “the group”) belong to the education consulting industry. The main business scope is: enterprise management training, management consulting services and sales of related books, audio-visual products. The actual controllers of the group are Li Jian, Zhao Ying and Li weiteng. The financial statements have been approved by the board of directors of the company on March 15, 2022. The consolidation scope of the consolidated financial statements is determined on the basis of control. See note VI for the changes during the reporting period. 2、 Preparation basis of financial statements the financial statements are prepared in accordance with the accounting standards for business enterprises – Basic Standards issued by the Ministry of Finance and the specific accounting standards, application guidelines, interpretations and other relevant provisions issued and revised later (collectively referred to as “accounting standards for business enterprises”). The financial statements are presented on a going concern basis. When preparing the financial statements, except for some financial instruments, the valuation principle is historical cost. If an asset is impaired, the corresponding impairment provision shall be withdrawn in accordance with relevant regulations. 3、 Important accounting policies and accounting estimates the group has formulated specific accounting policies and accounting estimates according to the actual production and operation characteristics, which are mainly reflected in the recognition of income, the provision of inventory falling price, the depreciation of fixed assets, the amortization of intangible assets, the amortization of long-term deferred expenses, etc. 1. Following the statement of the accounting standards for business enterprises, the financial statements comply with the requirements of the accounting standards for business enterprises, and truly and completely reflect the merger of the group and the company as of December 31, 2021 and the company’s financial position, as well as the merger of the group and the company’s operating results and cash flow in 2021. 2. The accounting period of the group is the Gregorian calendar year, i.e. from January 1 to December 31.
Shanghai Action Education Technology Co.Ltd(605098) notes to financial statements
RMB in 2021
3、 Important accounting policies and accounting estimates (Continued) Bookkeeping base currency the bookkeeping base currency of the group and the currency used in the preparation of the financial statements are RMB. Unless otherwise specified, it is expressed in RMB. 4. Business combination business combination is divided into business combination under the same control and business combination not under the same control. Business combination under the same control: a business combination under the same control refers to a business combination in which the enterprises participating in the combination are ultimately controlled by the same party or the same parties before and after the combination, and the control is not temporary. For business combinations under the same control, the party that obtains control over other enterprises participating in the merger on the merger date is the merging party, and other enterprises participating in the merger are the merged party. The merger date refers to the date on which the combining party actually obtains control over the merged party. The assets and liabilities acquired by the combining party in the business combination under the same control (including the goodwill formed by the final controller’s acquisition of the combined party) shall be subject to relevant accounting treatment based on the book value in the final controller’s financial statements on the combination date. For the difference between the book value of the net assets obtained by the combining party and the book value of the merger consideration paid (or the total face value of the issued shares), the equity premium in the capital reserve shall be adjusted. If it is insufficient to offset, the retained earnings shall be adjusted. A business combination not under the same control is a business combination not under the same control if the enterprise participating in the combination is not ultimately controlled by the same party or the same parties before and after the combination. For business combinations not under the same control, the party that obtains control over other enterprises participating in the merger on the acquisition date is the acquirer, and other enterprises participating in the merger are the acquiree. The date of purchase refers to the date on which the purchaser actually obtains control over the acquiree. The identifiable assets, liabilities and contingent liabilities of the acquiree obtained in the business combination not under the same control shall be measured at fair value on the acquisition date.
Shanghai Action Education Technology Co.Ltd(605098) notes to financial statements
RMB in 2021
3、 Important accounting policies and accounting estimates (Continued) The difference between the sum of the fair value of the merger consideration paid (or the fair value of the equity securities issued) and the fair value of the equity of the acquiree held before the acquisition date is greater than the fair value share of the identifiable net assets of the acquiree obtained in the merger is recognized as goodwill, Subsequent measurement shall be made at cost less accumulated impairment loss.
If the sum of the fair value of the merger consideration paid (or the fair value of the equity securities issued) and the fair value of the equity of the acquiree held before the acquisition date is less than the fair value share of the identifiable net assets of the acquiree obtained in the merger, the identifiable assets The measurement of the fair value of liabilities and contingent liabilities, the fair value of the merger consideration paid (or the fair value of equity securities issued) and the fair value of the equity held by the acquiree before the acquisition date shall be reviewed, If the sum of the fair value of the merger consideration paid after review (or the fair value of the equity securities issued) and the fair value of the equity of the acquiree held before the acquisition date is still less than the fair value share of the identifiable net assets of the acquiree obtained in the merger, the difference shall be included in the current profit and loss. 5. Consolidated financial statements the consolidation scope of consolidated financial statements is determined on the basis of control, including the financial statements of the company and all subsidiaries. Subsidiaries refer to the entities controlled by the company (including the separable parts of enterprises and invested units, as well as the structured entities controlled by the company). When preparing the consolidated financial statements, the subsidiaries adopt the accounting year and accounting policy consistent with that of the company. Assets, liabilities, equity, income, expenses and cash flows arising from all transactions between companies within the group are fully offset at the time of consolidation. If the current loss shared by the minority shareholders of a subsidiary exceeds the share enjoyed by the minority shareholders in the opening shareholders’ equity of the subsidiary, the balance shall still be offset against the reduced shareholders’ equity. For subsidiaries acquired through business combination not under the same control, the operating results and cash flows of the acquiree shall be included in the consolidated financial statements from the date when the group obtains control until the group terminates its control. When preparing the consolidated financial statements, the financial statements of subsidiaries shall be adjusted on the basis of the fair value of all identifiable assets, liabilities and contingent liabilities determined on the acquisition date.
Shanghai Action Education Technology Co.Ltd(605098) notes to financial statements
RMB in 2021
3、 Important accounting policies and accounting estimates (Continued) Consolidated financial statements (Continued) for subsidiaries obtained through business combination under the same control, the operating results and cash flow of the combined party shall be included in the consolidated financial statements from the beginning of the current period. When preparing and comparing the consolidated financial statements, the relevant items of the previous financial statements are adjusted, which is regarded as the reporting entity formed after the merger has existed since the final controller began to implement control. If changes in relevant facts and circumstances lead to changes in one or more of the control elements, the group reassesses whether to control the investee. 6. Cash and cash equivalents refer to the group’s cash on hand and deposits that can be used for payment at any time; Cash equivalents refer to the short-term, highly liquid investments held by the group, which are easy to be converted into known amounts of cash and have little risk of value change. 7. Financial instruments financial instruments refer to the contracts that form the financial assets of an enterprise and form the financial liabilities or equity instruments of other units. Recognition and derecognition of financial instruments the Group recognizes a financial asset or financial liability when it becomes a party to the financial instrument contract. If the following conditions are met, the recognition of financial assets (or part of financial assets, or part of a group of similar financial assets) shall be terminated, that is, they shall be written off from their accounts and balance sheets: (1) the right to receive the cash flow of financial assets expires; (2) Transferred the right to receive the cash flow of financial assets, or assumed the obligation to timely pay the full amount of the received cash flow to a third party under the “handling agreement”; And (a) substantially transferred almost all the risks and rewards of the ownership of the financial asset, or (b) abandoned the control of the financial asset although substantially neither transferred nor retained almost all the risks and rewards of the ownership of the financial asset. If the liability for financial liabilities has been fulfilled, revoked or expired, the financial liabilities shall be derecognized. If the existing financial liabilities are replaced by another financial liability with substantially different terms by the same creditor, or the terms of the existing liabilities are substantially modified, such replacement or modification shall be treated as derecognition of the original liabilities and recognition of new liabilities, and the difference shall be included in the current profits and losses.
Shanghai Action Education Technology Co.Ltd(605098) notes to financial statements
RMB in 2021
3、 Important accounting policies and accounting estimates (Continued) 7 Financial instruments (Continued) recognition and derecognition of financial instruments (Continued) financial assets purchased and sold in a conventional way shall be recognized and derecognized according to the accounting on the trading day. Buying and selling financial assets by conventional means refers to receiving or delivering financial assets within the time limit specified by laws and regulations or common practices in accordance with the terms of the contract. Trading day refers to the date on which the group promises to buy or sell financial assets. Classification and measurement of financial assets the financial assets of the group are classified into: financial assets measured at fair value through profit or loss, financial assets measured at amortized cost Financial assets measured at fair value with changes included in other comprehensive income. On the balance sheet date, the group’s financial assets include financial assets measured at fair value with changes included in current profit and loss, financial assets measured at amortized cost and financial assets measured at fair value with changes included in other comprehensive income. Financial assets are measured at fair value at the time of initial recognition, but if the accounts receivable or notes receivable arising from the sale of goods or the provision of services do not contain significant financing components or do not consider the financing components of no more than one year, the initial measurement shall be made according to the transaction price. For the financial assets measured at fair value and whose changes are included in the current profit and loss, the relevant transaction costs are directly included in the current profit and loss, and the relevant transaction costs of other types of financial assets are included in their initial recognition amount. The subsequent measurement of financial assets depends on their classification: if the debt instrument investment financial assets measured at amortized cost meet the following conditions at the same time, they are classified as financial assets measured at amortized cost: the business model of managing the financial assets is to collect contract cash flow; The contractual terms of the financial asset stipulate that the cash flow generated on a specific date is only the payment of principal and interest based on the outstanding principal amount. The interest income of such financial assets is recognized by the effective interest rate method, and the gains or losses arising from the derecognition, modification or impairment are included in the current profit and loss.
Shanghai Action Education Technology Co.Ltd(605098) notes to financial statements
RMB in 2021
3、 Important accounting policies and accounting estimates (Continued) 7 Financial instruments (Continued) classification and measurement of financial assets (Continued) are measured at fair value and their changes are included in other comprehensive income
