Wuxi Chipown Micro-Electronics Limited(688508) : Announcement on changes in accounting estimates of depreciation life of fixed assets

Securities code: Wuxi Chipown Micro-Electronics Limited(688508) securities abbreviation: Wuxi Chipown Micro-Electronics Limited(688508) Announcement No.: 2022013 Wuxi Chipown Micro-Electronics Limited(688508)

Announcement on changes in accounting estimates of depreciation life of fixed assets

The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions, and bear individual and joint legal liabilities for the authenticity, accuracy and integrity of the contents.

Important content tips:

According to the relevant provisions of the accounting standards for Business Enterprises No. 28 - changes in accounting policies, accounting estimates and error correction, the company adopts the future applicable method for the corresponding accounting treatment of this change in accounting estimates, and there is no need to make retroactive adjustment to the disclosed financial statements of the company, which will not have an impact on the financial status and operating results of the company in previous years.

Impact of changes in accounting estimates on the current period: according to the company's calculation, this change in accounting estimates is expected to reduce the depreciation amount of fixed assets by about 504000 yuan in 2022. Assuming that all the above depreciation amounts are carried forward to the current profit and loss, without considering the increase or decrease of the company's fixed assets, after deducting the impact of enterprise income tax, It is estimated that the net profit of the company in 2022 will be increased by about 450400 yuan (the above data have not been audited, and the specific impact amount shall be subject to the audit report of 2022 audited by accountants). 1、 Overview of changes in accounting estimates

Wuxi Chipown Micro-Electronics Limited(688508) (hereinafter referred to as "the company") held the 9th meeting of the 4th board of directors and the 9th meeting of the 4th board of supervisors on March 17, 2022, which deliberated and adopted the proposal on the change of accounting estimation of depreciation life of fixed assets. In order to make accounting more accurate and truly reflect economic business, the company evaluated the use and service life of fixed assets, The category and expected service life of fixed assets shall be redefined.

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) contents and reasons of changes in accounting estimates

1. Change content

Before this accounting estimate change, the company's experimental equipment was not accounted separately, and the relevant equipment was collected in "electronic equipment" or "other equipment". At present, the company plans to add a new fixed asset category "experimental equipment" to account for R & D equipment and reassess its depreciation life. The technical renewal and iteration of standard and low value electronic instruments and equipment is relatively fast, and the straight-line method is adopted to withdraw depreciation according to the service life of 3 years; The service life of special-purpose and high-value mechanical experimental equipment is significantly longer than that of electronic experimental equipment, and the straight-line method is used to withdraw depreciation according to the service life of 5 years. The specific categories and depreciation years are changed as follows:

(1) Before change

Category depreciation method depreciation life residual value rate annual depreciation rate

(year) (%) (%)

Experimental equipment (electronic equipment or linear method) 3 ~ 5 19 ~ 31.67

Other equipment)

(2) After change

Category equipment type depreciation method depreciation life residual value rate annual depreciation rate (year) (%) (%)

Standard type, price

Experimental equipment (electronic type) electronic straight-line method with low value 353167 experimental equipment

Special type, price

Machine straight line method with high value of experimental equipment (machine type) 5 19

Type experimental equipment

2. Reason for change

According to the relevant provisions of the accounting standards for Business Enterprises No. 4 - fixed assets, the enterprise shall review the service life, expected net salvage value and depreciation method of fixed assets at least at the end of each year. If the expected service life is different from the original estimate, the service life of fixed assets shall be adjusted.

With the establishment of the company's R & D center, the company's experimental equipment is gradually increasing. Before the change of accounting estimate, the experimental equipment was not accounted separately, and the relevant equipment was collected in electronic equipment or other equipment. Now the company has set up a research and development center. In order to refine the management of fixed assets and clarify the responsibilities of relevant management departments, the company plans to add a new category of fixed assets "experimental equipment", and re evaluate the depreciation period according to the actual situation of the equipment, so as to make the depreciation period closer to the service life of the equipment and reflect the company's financial situation and operating results more objectively and accurately. (II) impact of changes in accounting estimates on the company

According to the relevant provisions of the accounting standards for Business Enterprises No. 28 - changes in accounting policies, accounting estimates and error correction, the company adopts the future applicable method for the corresponding accounting treatment of this change in accounting estimates, and there is no need to make retroactive adjustment to the disclosed financial statements of the company, which will not have an impact on the financial status and operating results of the company in previous years.

According to the calculation of the company, the change of accounting estimate is expected to reduce the depreciation amount of fixed assets by about 500400 yuan in 2022. Assuming that all the above depreciation amounts are carried forward to the current profit and loss, and the increase and decrease of the company's fixed assets are not considered, after deducting the impact of enterprise income tax, It is estimated that the net profit of the company in 2022 will be increased by about 450400 yuan (the above data have not been audited, and the specific impact amount shall be subject to the audit report of 2022 audited by accountants). 3、 Concluding opinions of independent directors, the board of supervisors and accounting firms (I) opinions of independent directors

After verification, the independent directors agreed that the change of accounting estimates complies with the relevant provisions of accounting standards for Business Enterprises No. 4 - fixed assets, accounting standards for Business Enterprises No. 28 - changes in accounting policies, accounting estimates and error correction and the actual operation of the company, and the changed accounting estimates comply with the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shanghai Stock Exchange, It can accurately reflect the company's financial situation and operating results, which is in line with the legitimate interests of the company and all shareholders, especially minority shareholders. The review procedure of this accounting estimate change complies with the provisions of relevant laws and regulations and the articles of association. (II) opinions of the board of supervisors

The board of supervisors of the company reviewed the changes in accounting estimates. The board of supervisors considered that the changes in accounting estimates comply 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 situation that damages the interests of shareholders of the company, especially small and medium-sized 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

Notarial Tianye Certified Public Accountants (special general partnership) issued a special statement on the changes in accounting estimates, Wuxi Chipown Micro-Electronics Limited(688508) the special instructions prepared by the management have been prepared in accordance with the relevant provisions of 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 of the self regulatory guide for companies listed on the science and Innovation Board No. 3 - daily information disclosure of Shanghai Stock Exchange, It truthfully reflects the changes in accounting estimates of Wuxi Chipown Micro-Electronics Limited(688508) in all major aspects. It is hereby announced.

Wuxi Chipown Micro-Electronics Limited(688508) board of directors March 18, 2022

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