Securities code: Iray Technology Company Limited(688301) securities abbreviation: Iray Technology Company Limited(688301) Announcement No.: 2022017 Iray Technology Company Limited(688301)
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, Iray Technology Company Limited(688301) (hereinafter referred to as "the company") adopts the future applicable method for the change of accounting estimates, does not need to make retroactive adjustment to the disclosed financial reports, and will not have an impact on the audited financial statements disclosed by the company, Nor will it have a significant impact on the company's financial position, operating results and cash flow in the future.
1、 Summary of changes in accounting estimates
In order to reflect the company's financial situation and operating results more objectively and fairly, the company has two changes in accordance with the accounting standards for Business Enterprises No. 28 - changes in accounting policies, accounting estimates and error correction, the articles of association and other relevant provisions, combined with the actual situation of the company: 1. The aging of the company's accounts receivable is "within 1 year", "1-2 years", "2-3 years" and "3-4 years" respectively "4-5 years" and "more than 5 years" are "5%", "10%", "30%", "50%", "80%", and "100%" respectively, and the proposed changes to "within 6 months", "6 months to 1 year", "1-2 years", "2-3 years" and "more than 3 years" are "0%", "5%", "20%", "50%", and "100%", respectively; 2、 The receivables formed between related parties within the scope of consolidated statements are changed from "divided into aging analysis combination and withdrawing expected credit loss according to aging analysis method" "Separately divided into 'accounts receivable from related parties within the scope of consolidation', its expected credit loss is tested separately. Unless there is conclusive evidence that it has credit loss, it is regarded as a risk-free portfolio and no bad debt provision is made".
On March 15, 2022, the company held the 10th meeting of the second board of directors and the 10th meeting of the second board of supervisors, deliberated and adopted the proposal on the change of accounting estimates of the company, and the independent directors of the company expressed their independent opinions on the proposal. This change in accounting estimates does not need to be submitted to the general meeting of shareholders for deliberation.
2、 Details of changes in accounting estimates and their impact on the company
(I) changes in accounting estimates
1. Changes in accounting estimates for the proportion of expected credit losses of receivables
(1) Accounting estimates adopted by the company before and after the change
Before and after change
Aging accrual proportion aging accrual proportion
Within 1 year 5% within 6 months 0
1 ~ 2 years 10% 6 months ~ 1 year 5%
30% in 2-3 years and 20% in 1-2 years
3-4 years 50% 2-3 years 50%
4-5 years 80% more than 3 years 100%
More than 5 years 100%
2. Changes in accounting estimates of the combination of credit risk characteristics of receivables of related parties within the scope of consolidated statements
(1) Accounting estimation adopted before this change: the accounts receivable formed between related parties within the scope of consolidated statements are divided into aging analysis portfolio, and the expected credit loss is accrued according to aging analysis method.
(2) Accounting estimation adopted after this change: the accounts receivable formed between related parties within the scope of consolidated statements are separately divided into "accounts receivable from related parties within the scope of consolidated statements", and their expected credit loss is tested separately. Unless there is conclusive evidence that they have credit loss, they are regarded as a risk-free combination and no bad debt provision is made. (II) date of change of accounting estimate
This accounting estimate change will be implemented from March 15, 2022.
(III) reasons for changes in accounting estimates
(1) Accounting estimate change of bad debt provision proportion of receivables: in order to more truly reflect the risk status of the company's receivables, so as to more objectively reflect the company's financial status and operating results, combined with the company's industry characteristics, payment collection of strategic customers and business development, Based on the evaluation of the company's credit policy and the actual bad debt write off of the company's past receivables, the accounting estimation of "withdrawing the proportion of expected credit loss based on the combination aging analysis method of credit risk characteristics" in the company's receivables is changed.
(2) Accounting estimation change of credit risk characteristic combination of receivables from related parties within the scope of consolidated statements: because the possibility of bad debt loss of receivables from related parties within the scope of consolidated statements is small, the company believes that the receivables between related parties within the scope of consolidation will be changed from the original "aging analysis" combination to "accounts receivable from related parties within the scope of consolidation", In addition, the original aging analysis method is changed to test its expected credit loss separately. Except that there is conclusive evidence that it may have credit loss, it is regarded as a risk-free combination and no provision for bad debts is made, which can more objectively reflect the financial status and operating results of individual statements.
(IV) impact of this accounting estimate change on the company
1. Changes in accounting estimates for the proportion of expected credit losses of receivables
According to the provisions of accounting standards for Business Enterprises No. 28 - changes in accounting policies and accounting estimates and correction of errors, the change of accounting estimates adopts the future application method, and there is no need to make retroactive adjustment to the disclosed financial reports. Therefore, the change of accounting estimates will not have an impact on the financial status and operating results of the company in previous years.
This accounting estimate change can more accurately reflect the actual situation of the company and provide more relevant accounting information. After the company's financial department calculates based on the balance and aging distribution of accounts receivable at the end of 2021, the impact of this accounting estimate change on pre tax profit is estimated to be 164395 million yuan. The actual impact on the pre tax profit in 2022 depends on the balance and aging distribution of accounts receivable at the end of 2022.
2. Changes in accounting estimates of the combination of credit risk characteristics of receivables of related parties within the scope of consolidated statements
According to the provisions of accounting standards for Business Enterprises No. 28 - changes in accounting policies and accounting estimates and error correction, this change in accounting estimates adopts the future application method, and there is no need to make retroactive adjustment to individual financial statements. Therefore, this change in accounting estimates will not have an impact on the financial status and operating results of related parties in previous years within the scope of consolidated statements.
3、 Concluding observations of independent directors, board of supervisors and accounting firms
(I) opinions of independent directors
After verification, we agree that the change of accounting estimates of the company 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 accurately reflect the company's financial situation and operating results, and are in line with the legitimate interests of the company and all shareholders, especially minority shareholders. The deliberation procedure of this accounting estimate change complies with the provisions of the company law and other relevant laws and regulations and the articles of association, and we unanimously agree to the proposal.
(II) opinions of the board of supervisors
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, can more objectively and truly reflect the financial status and operating results of the company and its subsidiaries, and there is no damage to the interests of the shareholders of the company, 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. The board of supervisors agreed to the change of accounting estimates of the company.
(III) opinions of accounting firm
Lixin Certified Public Accountants (special general partnership) believes that, The special instructions prepared by the company have been in accordance with the accounting standards for Business Enterprises No. 28 - changes in accounting policies and accounting estimates and error correction, and the announcement on the correction of accounting errors, changes in accounting policies or accounting estimates of companies listed on the science and Innovation Board No. 16 - Daily Information Disclosure of self regulatory guidelines for companies listed on the science and Innovation Board of Shanghai Stock Exchange, and The preparation of the articles of association truthfully reflects the changes in accounting estimates of the company in all major aspects.
It is hereby announced.
Iray Technology Company Limited(688301) board of directors March 17, 2022
