Guangdong Transtek Medical Electronics Co.Ltd(300562) 2022 announcement
Securities code: Guangdong Transtek Medical Electronics Co.Ltd(300562) securities abbreviation: Guangdong Transtek Medical Electronics Co.Ltd(300562) Announcement No.: 2022021
Guangdong Transtek Medical Electronics Co.Ltd(300562)
Announcement on asset write off and provision for asset impairment in 2021
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
According to the accounting standards for business enterprises and the self regulatory guidelines for listed companies of Shenzhen Stock Exchange No. 2——
In order to truly reflect the company’s financial situation and asset value in 2021, the company has written off relevant assets and accrued impairment reserves.
1、 Scope and amount of provision for asset impairment and write off of assets
1. The ending balance of provision for asset impairment in this year is 3472104263 yuan, as follows:
After the company and its subsidiaries conduct a comprehensive inventory and asset impairment test of assets that may show signs of impairment in accordance with accounting policies, the provision for impairment of various assets is 1477856991 yuan and the written off assets are 42540785 yuan in this year. The details are as follows:
Unit: Yuan
Opening balance of asset impairment provision items withdrawn in the current period and written off ending balance in the current period reversed in the current period
Accounts receivable 169663209273569992638597912428472227
Other receivables 418 Shanghai Hollywave Electronic System Co.Ltd(688682) 486889466737762
Inventory 930 Zhejiang Taifu Pump Co.Ltd(300992) 3916582038680994293514925
Goodwill
Total 20367880571477856991425407853472104263
2. Write off of assets
Guangdong Transtek Medical Electronics Co.Ltd(300562) 2022 announcement
The assets written off by the company totaled 422465305 yuan. Among them, the write off amount of fixed assets is 379924520 yuan;
The write off amount of accounts receivable is 3859791 yuan; The write off amount of inventory is 38680994 yuan, as follows:
Unit: Yuan
Project write off amount write off reason
Fixed assets cannot be used continuously because the service life of assets exceeds the legal service life, and idle assets do not need 379924520 yuan for disposal;
The accounts receivable 3859791 cannot be contacted due to the customer’s business situation and personnel changes, so the accounts receivable shall be written off;
The inventory 38680994 finished products in stock that fail to pass the inspection and cannot be repaired shall be written off;
Subtotal 422465305
2、 Recognition standards and methods for withdrawing asset impairment reserves and writing off assets
The company’s provision for asset impairment mainly includes provision for bad debts of accounts receivable and other receivables, provision for depreciation of inventories and provision for impairment of goodwill.
1. Provision method for impairment:
(1) Provision method for bad debt reserves of accounts receivable (accounts receivable and other receivables): for accounts receivable, regardless of whether it contains major financing components or not, the company always measures its loss reserves according to the amount equivalent to the expected credit loss in the whole duration.
(2) Withdrawing method of inventory falling price reserves: after a comprehensive inventory of inventories at the end of the year, the inventory falling price reserves shall be withdrawn or adjusted according to the lower of the cost and net realizable value of inventories.
The net realizable value of finished products, goods in stock, materials for sale and other goods inventories directly for sale shall be determined by the amount of the estimated selling price of the inventory minus the estimated selling expenses and relevant taxes in the normal process of production and operation; For the inventory of materials that need to be processed, in the normal production and operation process, the net realizable value is determined by the estimated selling price of the finished products minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes; The net realizable value of inventories held for the execution of sales contracts or labor contracts is calculated based on the contract price. If the quantity of inventories held is more than the quantity ordered in the sales contract, the net realizable value of excess inventories is calculated based on the general sales price.
At the end of the period, the inventory falling price reserves are accrued according to a single inventory item; However, for the inventory with large quantity and low unit price, the inventory falling price reserves shall be withdrawn according to the inventory category; Related to product lines produced and sold in the same region
Guangdong Transtek Medical Electronics Co.Ltd(300562) 2022: for inventories with the same or similar end use or purpose and difficult to be measured separately from other items, the provision for inventory falling price shall be accrued jointly.
(3) Provision method for goodwill impairment: conduct goodwill impairment test, and allocate the book value of goodwill formed by business combination to relevant asset groups according to reasonable methods from the purchase date; If it is difficult to allocate to the relevant asset group, it shall be allocated to the relevant asset group portfolio. When the book value of goodwill is apportioned to relevant asset groups or asset group combinations, it shall be apportioned according to the proportion of the fair value of each asset group or asset group combination to the total fair value of relevant asset groups or asset group combinations. If the fair value is difficult to be measured reliably, it shall be apportioned according to the proportion of the book value of each asset group or combination of asset groups to the total book value of relevant asset groups or combination of asset groups.
When conducting the impairment test on the relevant asset group or combination of asset groups containing goodwill, if there are signs of impairment in the asset group or combination of asset groups related to goodwill, first conduct the impairment test on the asset group or combination of asset groups not containing goodwill, calculate the recoverable amount, and compare it with the relevant book value to confirm the corresponding impairment loss. Then carry out impairment test on the asset group or combination of asset groups containing goodwill, and compare the book value of these relevant asset groups or combination of asset groups (including the book value of the apportioned goodwill) with their recoverable amount. If the recoverable amount of relevant asset groups or combination of asset groups is lower than its book value, the impairment loss of goodwill shall be recognized. Once the provision for impairment of goodwill is recognized, it shall not be reversed in subsequent accounting periods.
3、 The impact of the write off of the above assets and the provision for large impairment on the company’s current profits
The impact of bad debt write off, asset scrapping and provision for asset impairment on the current profit in this year amounted to 1820625532 yuan. Of which:
1. The bad debt of accounts receivable written off in this year is 3859791 yuan, which has been fully recovered by the company and confirmed to be irrecoverable. The project has accrued bad debt provision of 500584 yuan in previous years, and the profit of write off of accounts receivable in this year is 3359207 yuan;
2. The inventory written off in the current year is 38680994 yuan. The provision for falling price of the project has been withdrawn in previous years, and the profit from the write off of the inventory in the current year is 0 yuan;
3. The fixed assets written off in this year were 379924520 yuan, and the reduced profit after deducting the disposal income was 339409334 yuan;
4. The total provision for asset impairment increased in this year is 1477856991 yuan, including accounts receivable
Guangdong Transtek Medical Electronics Co.Ltd(300562) 2022 announced that the provision for bad debts increased by 735699926 yuan, the provision for bad debts of other receivables increased by 24868894 yuan, the provision for inventory falling price increased by 239165820 yuan, the provision for goodwill impairment increased by 478122351 yuan, and the total reduced profit was 1477856991 yuan.
The above profit reduction has been reflected in the financial report of 2021.
The write off and provision for asset impairment in this year truly reflect the financial situation of the enterprise, comply with the requirements of accounting standards and relevant policies, comply with the actual situation of the company, and there is no behavior damaging the interests of the company and shareholders. The write off and provision for asset impairment in this year does not involve the company’s related parties.
4、 Accounting treatment method, basis and accountability measures
In accordance with the accounting standards for business enterprises and the relevant provisions of the company’s accounting policies and internal control system, the bad debts of the company’s accounts receivable are accounted by the allowance method, and the above written off accounts receivable offset the accrued bad debt reserves; The scrapped fixed assets are transferred to the current profit and loss according to the amortized value.
The Finance Department of the company shall establish a future account for the write off details of all accounts receivable this year, retain the data that may be used for recovery in the future, and continue to implement the responsible person for tracking. Once it is found that there is a possibility of repayment, it will be recovered immediately. It is hereby announced.
Guangdong Transtek Medical Electronics Co.Ltd(300562) board of directors
March 19, 2002
