Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) audit report and financial statements for the year 2021
Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332)
Audit report and financial statements
(from January 1, 2021 to December 31, 2021)
Table of contents page
1、 Audit report 1-5 II. Financial statements
Consolidated balance sheet and parent company balance sheet 1-4 consolidated income statement and parent company income statement 5-6 consolidated cash flow statement and parent company cash flow statement 7-8 consolidated statement of changes in owner's equity and parent company statement of changes in owner's equity 9-12 notes to financial statements 1-210
Key audit matters how to deal with them in the audit
(I) sales revenue recognition Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) the business is divided into big South pharmaceutical, big health, big business and others. The audit procedures related to the business of this year include but are not limited to: see note V (49) for the amount of revenue; 1. Understand and evaluate the management's accounting policies related to revenue and the design of key internal control related to accounting recognition. See note III (XXVI), (xxx) and operation effectiveness for details;
2） 1. 2. For different sales modes, we identify the inherent risk that the management manipulates the revenue recognition time point of the revenue recognition mode to evaluate whether the revenue recognition time point of Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) different sales to specific goals or expectations meets the requirements of Baiyun accounting standards for business enterprises because revenue is one of the contract conditions related to the transfer of commodity control as the key performance of Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) the key performance of Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) ; Revenue recognition is identified as a key audit matter. 3. Itemize revenue and gross profit. Analyze and judge whether there is abnormal fluctuation in the amount of income in the current period;
4. Select samples of revenue transactions recorded in this year, check invoices, sales contracts, shipping orders, customer signing records, etc., and evaluate whether relevant revenue recognition conforms to the accounting policies of the company for revenue recognition;
5. Select a sample of revenue transactions recorded before and after the balance sheet date, and check the sales contract, delivery note, customer receipt record and other supporting documents to evaluate whether the revenue is recorded in the appropriate accounting period;
6. Select samples to execute the confirmation procedure to confirm the current sales revenue, closing receivable balance and other information;
7. Carry out the alternative test of checking invoices, sales contracts, shipping orders, customer signing records, etc. for the confirmation letters that have not been replied.
(II) goodwill impairment test
On May 31, 2018, Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) acquired 30% of the equity of the pharmaceutical company related to the goodwill impairment test implemented by us, and the audit procedures related to the formation of goodwill include but are not limited to:
932 million yuan. As of December 1, 2021 and the key 31 days related to the evaluation and testing of goodwill, an impairment provision of RMB 118 million has been withdrawn. Effectiveness of internal control design and implementation; In the goodwill impairment test, the actual parameters of relevant asset groups in the current year, such as income growth rate, gross profit result, corresponding forecast rate and discount rate in previous years, involve significant judgment. According to the comparison, we can evaluate the current situation of the management. Therefore, we identify the impairment of goodwill as whether the forecast of related cash flow is reliable;
Key audit matters. 3. Evaluate the competence, professional quality and objectivity of external valuation experts employed by the management;
4. Independently employ external valuation experts to evaluate the appropriateness of the impairment test method, the basic data on which the impairment test is based, and the rationality of the key assumptions and judgments adopted with the assistance of valuation experts;
5. Test whether the calculation of net present value of future cash flow is accurate.
4、 Other information
Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) Management (hereinafter referred to as management) is responsible for other information. Other information includes the information covered in Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) 2021 annual report, but does not include the financial statements and our audit report.
Our audit opinion on the financial statements does not cover other information, and we will not issue any form of assurance conclusion on other information.
In combination with our audit of the financial statements, our responsibility is to read other information and consider whether other information is materially inconsistent with the financial statements or the information we have learned in the audit process, or there seems to be material misstatement.
Based on the work we have performed, if we determine that there is a material misstatement in other information, we should report that fact. In this regard, we have nothing to report.
5、 Responsibilities of management and governance for financial statements
The management is responsible for preparing the financial statements in accordance with the provisions of the accounting standards for business enterprises to achieve a fair reflection, and designing, implementing and maintaining necessary internal control so that the financial statements are free from material misstatement caused by fraud or error.
When preparing the financial statements, the management is responsible for assessing Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) 's ability to continue as a going concern, disclosing matters related to going concern (if applicable), and applying the assumption of going concern, unless liquidation is planned, operation is terminated or there is no other realistic choice.
The management is responsible for supervising the financial reporting process of Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) .
6、 Responsibilities of certified public accountants for the audit of financial statements
Our goal is to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement due to fraud or error, and issue an audit report containing audit opinions. Reasonable assurance is a high-level assurance, but it does not guarantee that the audit performed in accordance with the audit standards will always be found when a major misstatement exists. Misstatement may be caused by fraud or error. If it is reasonably expected that the misstatement alone or in summary may affect the economic decisions made by the users of the financial statements based on the financial statements, the misstatement is generally considered to be significant.
In the process of carrying out the audit work in accordance with the audit standards, we use professional judgment and maintain professional doubt. At the same time, we also carry out the following work:
(I) identify and assess the risks of material misstatement of financial statements due to fraud or error, design and implement audit procedures to deal with these risks, and obtain sufficient and appropriate audit evidence as the basis for issuing audit opinions. Since fraud may involve collusion, forgery, intentional omission, misrepresentation or override of internal control, the risk of failing to find major misstatement caused by fraud is higher than that caused by error.
(II) understand the internal control related to audit in order to design appropriate audit procedures, but the purpose is not to express opinions on the effectiveness of internal control.
(III) evaluate the appropriateness of accounting policies selected by the management and the rationality of accounting estimates and related disclosures.
(IV) draw a conclusion on the appropriateness of the management's use of the going concern assumption. At the same time, according to the audit evidence obtained, draw a conclusion on whether there are major uncertainties in the matters or circumstances that may lead to major doubts about Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) going concern ability. If we conclude that there is significant uncertainty, the auditing standards require us to draw the attention of statement users to the relevant disclosures in the financial statements in the audit report; If the disclosure is insufficient, we should express a non unqualified opinion. Our conclusions are based on the information available as of the date of the audit report. However, future events or circumstances may cause Guangzhou Baiyunshan Pharmaceutical Holdings Company Limited(600332) unable to continue its business.
December 31, 2021
(unless otherwise specified, the monetary unit is RMB)
Notes to assets closing balance closing balance of last year
Current assets:
Monetary capital v. (I) 22376927861431947027622453
Trading financial assets v. (II) 0.00400000000
Derivative financial assets 0.00 0.00
Notes receivable v. (III) 122209709965113481599339
Accounts receivable v. (IV) 12816537107401238965557661
Receivables financing v. (V) 317186596120216497892529
Prepayment v. (VI) 77923982644103253316554
Other receivables v. (VII) 11787143937776571148137
Purchase of resale financial assets 0.00 0.00
Inventory v. (VIII) 1043773379999976453136380
Contract assets 0.00 0.00
Assets held for sale 0.00 0.00
Non current assets due within one year 0.00 0.00
Other current assets v. (IX) 8274584115767011529106
Total current assets 52810574461454739661802159
Non current
