Beijing Const Instruments Technology Inc(300445)
Financial statements for the year of 2021
Audit report
catalogue
1、 Audit report
2、 Financial statements
1. Consolidated balance sheet and parent company's balance sheet as of December 31, 2021
2. Consolidated income statement and parent company's income statement in 2021
3. Consolidated cash flow statement and cash flow statement of parent company in 2021
4. Consolidated statement of changes in owner's equity and statement of changes in owner's equity of the parent company in 2021 5. Notes to financial statements in 2021
YONGTUO Certified Public Accountants (special general partnership)
Audit report
YZSZ (2022) No. 110004 Beijing Const Instruments Technology Inc(300445) all shareholders:
1、 Audit opinion
We have audited the attached financial statements of Beijing Const Instruments Technology Inc(300445) (hereinafter referred to as " Beijing Const Instruments Technology Inc(300445) " or "the company"), including the consolidated balance sheet and the parent company's balance sheet as of December 31, 2021, the consolidated income statement and the parent company's income statement, the consolidated cash flow statement and the parent company's cash flow statement, the consolidated statement of changes in owner's equity and the parent company's statement of changes in owner's equity and the notes to relevant financial statements in 2021.
In our opinion, the attached financial statements are prepared in accordance with the provisions of the accounting standards for business enterprises in all material aspects and fairly reflect the financial position of Beijing Const Instruments Technology Inc(300445) the consolidated and parent company as of December 31, 2021 and the operating results and cash flow of the consolidated and parent company in 2021.
2、 Basis for forming audit opinions
We conducted our audit in accordance with the auditing standards for Chinese certified public accountants. The "responsibilities of certified public accountants for the audit of financial statements" in the audit report further expounds our responsibilities under these standards. In accordance with the code of professional ethics for Chinese certified public accountants, we are independent of Beijing Const Instruments Technology Inc(300445) , and have fulfilled other responsibilities in terms of professional ethics. We believe that the audit evidence we have obtained is sufficient and appropriate, which provides a basis for our audit opinion.
3、 Key audit matters
The key audit matters are the most important matters that we consider to audit the current financial statements according to our professional judgment. The response to these matters is based on the overall audit of the financial statements and the formation of audit opinions. We will not express separate opinions on these matters.
1. Capitalization of R & D expenditure
In 2021, Beijing Const Instruments Technology Inc(300445) R & D investment totaled 8840982548 yuan, of which the capitalization amount was 3792843325 yuan, accounting for 42.90% of the total R & D investment in the current period. Since the recognition of R & D expenditure capitalization requires the company to have sound and effective internal control, and the amount of R & D expenditure capitalization recognition in the current period has a significant impact on the current net profit, we recognize the recognition of R & D expenditure capitalization as a key audit event.
Response in audit
Our main audit procedures for the recognition of R & D expenditure capitalization include:
(1) Understand the company's internal control related to R & D activities, identify and evaluate the risk of material misstatement, and focus on the company's accounting policies related to R & D activities, including but not limited to the recognition basis of capitalization and expense of R & D expenditure, the division of research stage and development stage, as well as the conditions and time points of capitalization recognition; Understand the main business links of the company's R & D projects from project initiation to acceptance; Understand the collection, distribution and accounting related control activities of expenses between R & D projects.
(2) Test whether the relevant internal control system is effectively implemented, and determine the impact on the nature, time and scope of substantive procedures of R & D expenditure according to the understanding and test results of internal control.
(3) Combined with the analysis of the overall level of the company, consider whether the management has the motivation to use the capitalization of R & D expenditure for earnings management.
(4) Check the basic data of the R & D project, including feasibility study report, project approval, test report, acceptance report, relevant agreements, minutes of the board of directors, etc., and judge whether the R & D project of the enterprise really exists through these data; Whether the project is in the research or development stage; Whether the capitalization and expense treatment in different stages are correct, and whether the accounting treatment is correct.
(5) Check the analysis and explanation materials of the company's management on the R & D projects meeting the five conditions of R & D expenditure capitalization, and compare and review with the relevant contents involved in the basic data of R & D projects.
(6) Check the realized income of R & D expenditure capitalization projects in previous years, compare it with the expected income of the management, analyze whether there are significant differences and the reasons for the differences, and evaluate whether the management's judgment follows the principle of objectivity and prudence; (7) Obtain the detailed statement of development expenditure, spot check the main expenses such as employee salary and depreciation in each month's expenditure, check whether they are consistent with relevant subjects, and verify the accuracy of main expenses;
(8) Combined with the analysis of the business process and business model of the company's R & D projects, judge the rationality and compliance of the collection and distribution methods of R & D expenditure among different R & D projects, and pay attention to the consistency of the collection and distribution methods in different accounting periods;
(9) In the audit of events after the balance sheet date, review the capitalized R & D expenditure to judge whether the capitalization conditions still exist. If the R & D project changes, the R & D expenditure will no longer meet the capitalization conditions and consider whether it is part of the adjustment after the balance sheet date.
4、 Other information
Beijing Const Instruments Technology Inc(300445) management is responsible for other information. Other information includes the information covered in Beijing Const Instruments Technology Inc(300445) 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 the going concern ability of Beijing Const Instruments Technology Inc(300445) and disclosing matters related to going concern and applying the going concern assumption, unless Beijing Const Instruments Technology Inc(300445) plans to liquidate, terminate operation or has no other realistic choice.
Beijing Const Instruments Technology Inc(300445) governance layer (hereinafter referred to as governance layer) is responsible for supervising the financial reporting process of Beijing Const Instruments Technology Inc(300445) .
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 to design appropriate audit procedures.
(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 Beijing Const Instruments Technology Inc(300445) 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 Beijing Const Instruments Technology Inc(300445) unable to continue its business.
(V) evaluate the overall presentation, structure and content (including disclosure) of the financial statements, and evaluate whether the financial statements fairly reflect relevant transactions and events.
(VI) obtain sufficient and appropriate audit evidence on the financial information of Beijing Const Instruments Technology Inc(300445) entity or business activities to express an audit opinion on the financial statements. We are responsible for guiding, supervising and implementing the group audit, and take full responsibility for the audit opinions.
We communicated with the management on the planned audit scope, schedule and major audit findings, including the internal control defects that we identified in the audit.
We also provide a statement to the management that we have complied with the professional ethics requirements related to independence, and communicate with the management all relationships and other matters that may reasonably be considered to affect our independence, as well as relevant preventive measures. From the matters communicated with the management, we determine which matters are the most important for the audit of the current financial statements, thus constituting key audit matters. We describe these matters in the audit report, unless laws and regulations prohibit the public disclosure of these matters, or in rare cases, if the negative consequences of communicating a matter in the audit report are reasonably expected to exceed the benefits in the public interest, we determine that we should not communicate the matter in the audit report.
YONGTUO Certified Public Accountants (special general partnership) Chinese certified public accountant:
(project partner): Tang Lin
Beijing, China Certified Public Accountant: Geng Jie
March 23, 2002
Consolidated balance sheet
Prepared by: Beijing Const Instruments Technology Inc(300445) unit: RMB currency: RMB
Asset note V December 31, 2021 December 31, 2020
Current assets:
Monetary capital 13378372791629928683935
Provision for settlement
Lending funds
Trading financial assets 217995563348
Derivative financial assets
Notes receivable 310703958291235754839
Accounts receivable 469188 Shanghai Fenghwa Group Co.Ltd(600615) 985309898
Receivables financing
Advance payment 517889716561187222151
receivable premium
accounts receivable reinsurance
Reinsurance contract reserve receivable
Other receivables 6599017999117867816
Purchase of resale financial assets
Inventory 782873221565389412415
Contract assets
Assets held for sale
Non current assets due within one year
Other current assets 81320798287989136651
Total current assets 5376909390462828951053
Non current assets:
Loans and advances
Debt investment
Other debt investment
Long term receivables 9134537251
Long term equity investment
Investment in other equity instruments
Other non current financial assets 10789189766929118010
Investment real estate
