Securities code: Zhejiang Meorient Commerce & Exhibition Inc(300795) securities abbreviation: Mio exhibition Announcement No.: 2021024 Zhejiang Meorient Commerce & Exhibition Inc(300795)
Announcement on the 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.
Zhejiang Meorient Commerce & Exhibition Inc(300795) (hereinafter referred to as "the company") held the 22nd Meeting of the 4th board of directors on March 21, 2022. The meeting deliberated and adopted the proposal on withdrawing the provision for asset impairment in 2021. The matters related to the company's withdrawing the provision for asset impairment are hereby announced as follows:
1、 Overview of the provision for asset impairment this time
In accordance with the accounting standards for business enterprises and the company's accounting policies and other relevant provisions, in order to truly and accurately reflect the company's financial position as of December 31, 2021, based on the principle of prudence, the company has conducted an impairment test on the relevant assets within the scope of consolidated statements that need to be depreciated as of December 31, 2021, and made corresponding depreciation and impairment reserves for accounts receivable, goodwill and other assets with signs of impairment, as follows:
Amount of impairment provision withdrawn in account details (yuan)
Goodwill impairment loss 629254621
assets impairment loss
Impairment loss of prepayments 291409350
Bad debt loss of accounts receivable and other receivables
Credit impairment loss 23351127
lose
Total 944015098
2、 Accrual basis and composition of credit impairment loss and asset impairment loss
1. The provision for impairment of accounts receivable and other receivables is 23351127 yuan. The specific basis for the provision for impairment is as follows:
The company assesses the expected credit risk and measures the expected credit loss on the basis of single financial instrument or combination of financial instruments. When based on the combination of financial instruments, the company divides the financial instruments into different combinations based on the common risk characteristics.
Method for measuring expected credit loss of project portfolio
basis
Other receivables - aging combination aging refers to the experience of historical credit loss and the current situation
And the forecast of future economic conditions, through
Default exposure and future 12 months or the whole
Nature of loan portfolio - expected duration of receivables, calculation of other receivables
Use loss
Refer to the historical credit loss experience and the current situation
Accounts receivable - aging combination, aging status and prediction of future economic status, preparation
Aging of accounts receivable and expected credit of the whole duration
Compare the loss rate table and calculate the expected credit loss
2. The impairment loss of goodwill is 629254621 yuan, and the specific basis for withdrawing the provision for depreciation is as follows: the company conducts impairment test every year for goodwill formed by business combination and intangible assets with uncertain service life, whether there are signs of impairment or not. Goodwill is tested for impairment in combination with its related asset group or combination of asset groups. If the recoverable amount is lower than its book value, the asset impairment provision shall be recognized according to the difference and included in the current profit and loss.
According to the asset appraisal report (zthpb Zi (2022) No. 1023) issued by zhongtonghua asset appraisal (Shanghai) Co., Ltd. employed by the company, for the goodwill of Shenzhen Huafu Exhibition Service Co., Ltd., the recoverable amount of the asset group or combination of asset groups including goodwill is 92 million yuan, the book value is 1043383 million yuan, and the impairment loss of goodwill should be recognized in the current period is 123383 million yuan, Among them, the impairment loss of goodwill attributable to the company should be recognized is 6.2925 million yuan.
3. The impairment loss of prepayment is 291409350 yuan, and the specific basis for withdrawing depreciation reserves is as follows:
According to the accounting policies and accounting estimates implemented by the company, prepayments are classified according to their importance and credit risk characteristics on the balance sheet date. For receivables with significant or insignificant single amount but with single provision for bad debt reserves, impairment test is conducted separately, and bad debt reserves are withdrawn according to the difference between the present value of future cash flow and its book value, For prepayments with similar credit risk characteristics with the same aging, the aging analysis method is used to withdraw bad debt reserves. The provision for bad debts of advance payment in this period is 291409350 yuan.
3、 Impact of provision for impairment on the company's financial position
The company made a total provision for impairment of various assets of 944015098 yuan in the current period, reducing the total profit of 2021 by 944015098 yuan.
4、 Notes of the board of directors on the provision of asset impairment loss this time
The board of directors of the company believes that the provision of asset impairment loss is based on the principle of prudence, fully based, truly and fairly reflects the company's financial situation and asset value, and agrees to the provision of asset impairment loss and credit impairment loss.
5、 Opinions of the board of supervisors on the provision of impairment losses
The board of supervisors of the company believes that the resolution procedure for the company to withdraw asset impairment loss and credit impairment loss this time complies with relevant laws, regulations and the articles of association, has sufficient basis, complies with the accounting standards for business enterprises, the company's accounting policies and the actual situation of the company, can fairly reflect the company's asset status, and agrees to withdraw asset impairment loss and credit impairment loss this time.
6、 Independent opinions of independent directors on the accrual of asset impairment loss
The provision for asset impairment of some assets of the company meets the requirements of the accounting standards for business enterprises and the actual situation of the company's accounts receivable and relevant policies and regulations. It can more fairly reflect the company's financial situation, asset value and operating results, and is conducive to providing investors with more authentic and reliable accounting information, without damaging the interests of the company and shareholders, especially small and medium-sized shareholders.
It is hereby announced!
Zhejiang Meorient Commerce & Exhibition Inc(300795) board of directors March 23, 2022
