Securities code: Yunding Technology Co.Ltd(000409) securities abbreviation: Yunding Technology Co.Ltd(000409) Announcement No.: 2022011
Yunding Technology Co.Ltd(000409)
Announcement on the provision for asset impairment in 2021
The company and all members of the board of directors guarantee that the contents of this announcement are true, accurate and complete without false records and errors
Leading statements or material omissions.
Yunding Technology Co.Ltd(000409) (the "company") convened the 10th Session of the board of directors on March 24, 2022
The 23rd Meeting and the 11th meeting of the 10th board of supervisors deliberated and adopted the
Proposal on provision for asset impairment. The company's provision for asset impairment in 2021 is hereby announced as follows:
1、 Overview of the provision for asset impairment this time
In order to objectively, truly and accurately reflect the asset status and operating success of the company as of December 31, 2021
As a result, according to the relevant provisions of the accounting standards for business enterprises and based on the principle of prudence, the scope of the company and consolidated statements
The internal subsidiaries conducted a comprehensive inventory and asset impairment test on various assets. During the reporting period, the company made a total of
The provision for asset impairment was 268473 million yuan, and the provision for asset impairment was 1.4333 million yuan, which was reversed and written off
The provision for impairment of contract assets decreased by 3.295 million yuan. Details are as follows:
Unit: Yuan
The opening amount of the project is reclassified during the reporting period and the ending amount is reduced during the reporting period
Withdrawal reversal and write off
Accounts receivable 343697722817803702981432 Shenzhen Fountain Corporation(000005) 074147526 bad debt provision other accounts receivable
Provision for bad debts 67310464981883325196919379017
Inventory - 384420003 - 384420003 falling price reserves
Contract assets 4220838733160802532949514444321268 impairment reserves
Provision for impairment of fixed assets 1080807132455948352
Total 10211312920268473084514333245532949514412423216166
2、 Relevant basis and method for withdrawing asset impairment provision this time
(I) accounts receivable
According to the relevant provisions of the accounting standards for Business Enterprises No. 22 - recognition and measurement of financial instruments and the notice on further improving the quality of financial information disclosure of listed companies issued by the CSRC, combined with the actual situation of the company's receivables, the expected credit loss of receivables is evaluated on the basis of expected credit loss and considering the credit risk characteristics of different debtors. In assessing the expected credit loss, the company has considered reasonable and reliable information about past events, current conditions and future economic conditions. The details are as follows:
1. Accounts receivable
For the accounts receivable formed by the transactions regulated by the income standard, the company shall measure the loss reserve according to the amount equivalent to the expected credit loss in the whole duration.
The company assesses the expected credit loss of receivables based on individual and combination. If there is objective evidence that a certain receivable has suffered credit impairment, the company shall determine the expected credit loss of the receivable on the basis of individual assets. For the accounts receivable divided into portfolios, the company refers to the historical credit loss experience, combined with the current situation and the prediction of future economic conditions, and calculates the expected credit loss by preparing the comparison table between the aging of accounts receivable and the expected credit loss rate throughout the duration. Confirmation basis of different combinations:
Portfolio content
Combination 1 this combination takes the aging of accounts receivable as the credit risk feature
Combination 2 this combination takes the accounts receivable from related parties within the consolidation scope as the credit risk characteristics
2. Other receivables
The company assesses the expected credit loss of other receivables based on individual and combination. If there is objective evidence that a certain other receivable has been impaired, the company shall determine the expected credit loss on the basis of individual assets. For other receivables classified as a combination, the company measures the impairment loss with the amount equivalent to the expected credit loss in the next 12 months or the whole duration according to whether the credit risk has increased significantly since the initial recognition. Confirmation basis of different combinations:
Portfolio content
Combination 1 this combination is the current account receivable
Combination 2: this combination refers to all kinds of deposits, deposits, reserve funds and other funds that should be collected in daily and regular activities
Combination 3 this combination refers to the employee funds withheld and remitted in daily regular activities
The company assesses the changes of credit risk of relevant other receivables since initial recognition on each balance sheet date. If the credit risk of the other receivables has increased significantly since the initial recognition, the company shall measure its loss reserves according to the amount equivalent to the expected credit loss of the other receivables in the whole duration; If the credit risk of the other receivables has not increased significantly since the initial recognition, the company measures its loss reserves according to the amount equivalent to the expected credit loss of the other receivables in the next 12 months.
(II) inventory
Net realizable value refers to the amount of the estimated selling price of inventory minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes in daily activities.
When determining the net realizable value of inventories, it shall be based on the conclusive evidence obtained, and consider the purpose of holding inventories and the impact of events after the balance sheet date.
On the balance sheet date, inventories are measured at the lower of cost and net realizable value. When the net realizable value is lower than the cost, the inventory falling price reserves shall be withdrawn. Inventory falling price reserves are usually withdrawn according to the difference between the cost of a single inventory item and its net realizable value. For the inventory with large quantity and low unit price, the inventory falling price reserves shall be withdrawn according to the inventory category; For the inventories related to the product series produced and sold in the same region, with the same or similar end use or purpose, and difficult to be measured separately from other items, the inventory falling price reserves can be accrued jointly.
After the provision for inventory falling price is made, if the factors affecting the previous write down of inventory value have disappeared, resulting in the net realizable value of inventory being higher than its book value, it shall be reversed from the amount of inventory falling price provision that has been made, and the reversed amount shall be included in the current profit and loss.
(III) contract assets
The company shall measure the loss reserves for the contract assets formed by the transactions regulated by the income standard (whether including major financing components or not) according to the amount equivalent to the expected credit loss in the whole duration.
The company evaluates the expected credit loss of contract assets based on individual and combination. If there is objective evidence that a contract asset has been impaired, the company will determine the expected credit loss of the contract asset on the basis of single asset. For the contract assets divided into portfolios, the company refers to the historical credit loss experience, combined with the current situation and the prediction of future economic conditions, and calculates the expected credit loss through the default risk exposure and the expected credit loss rate for the whole duration.
Portfolio content
Combination 1: contract revenue and performance payment
Combination 2: Warranty deposit
(IV) long term assets
For non current and non-financial assets such as fixed assets, construction in progress, intangible assets with limited service life, investment real estate measured in cost mode and long-term equity investment in subsidiaries, joint ventures and associated enterprises, the company shall judge whether there are signs of impairment on the balance sheet date. If there are signs of impairment, the recoverable amount shall be estimated and impairment test shall be conducted. If the impairment test results show that the recoverable amount of the asset is lower than its book value, the impairment provision shall be withdrawn according to the difference and included in the impairment loss. The recoverable amount is the higher one between the net amount of the fair value of the asset minus the disposal expenses and the present value of the expected future cash flow of the asset. The fair value of the assets in the sale agreement is determined according to the fair value; If there is no sales agreement but there is an active asset market, the fair value shall be determined according to the buyer's bid of the asset; If there is no sales agreement and an active asset market, the fair value of the asset is estimated based on the best available information. Disposal expenses include legal expenses related to the disposal of assets, relevant taxes, handling expenses and direct expenses incurred to make the assets marketable. The present value of the estimated future cash flow of an asset is determined by selecting an appropriate discount rate according to the estimated future cash flow generated during the continuous use and final disposal of the asset. The provision for asset impairment is calculated and recognized on the basis of individual assets. If it is difficult to estimate the recoverable amount of individual assets, the recoverable amount of the asset group is determined by the asset group to which the asset belongs. Asset group is the smallest asset portfolio that can generate cash inflow independently.
For the goodwill separately listed in the financial statements, the book value of the goodwill shall be apportioned to the asset group or combination of asset groups expected to benefit from the synergy of business combination during the impairment test. If the test results show that the recoverable amount of the asset group or combination of asset groups containing the amortized goodwill is lower than its book value, the corresponding impairment loss shall be recognized. The amount of impairment loss shall first offset the book value of the goodwill allocated to the asset group or asset group combination, and then offset the book value of other assets in proportion according to the proportion of the book value of other assets other than goodwill in the asset group or asset group combination.
3、 Related matters and reasons for the provision for asset impairment this time
(I) provision for bad debts of accounts receivable
At the end of 2021, the book balance of the company's accounts receivable was 4389737 million yuan and the opening balance of bad debt provision was 343698 million yuan. According to the company's accounting policies, the company has withdrawn 160784 million yuan of bad debt reserves of accounts receivable according to the aging combination, 1.7253 million yuan of bad debt reserves of accounts receivable according to the single withdrawal, 1.432 million yuan of bad debt reserves of previous years, 507415 million yuan of ending balance of bad debt reserves and 3882322 million yuan of ending book value of accounts receivable. The details are as follows:
Unit: Yuan
Category accounts receivable bad debt reserves withdrawn in the current period bad debt reserves reversed in the current period accounts receivable
Closing book balance opening balance closing book value
Calculated by individual item
Bad debt provision 6459622806166297781725325021432 Shenzhen Zhenye(Group)Co.Ltd(000006) 45962280 0.00
Provision aging group
Total provision for bad debts 4325140758328203474501607837796 0.00442818524638823222337
Total 43897369863343697722817803702981432 Shenzhen Fountain Corporation(000005) 07414752638823222337
(II) provision for bad debts of other receivables
At the end of 2021, the book balance of other receivables of the company was 1035952 million yuan, and the opening balance of bad debt provision was 673105 million yuan. According to the accounting policies of the company, the company has accrued bad debt provision for other receivables of 1.8833 million yuan according to the combination, and the ending balance of bad debt provision is 691938 million yuan.
(III) provision for inventory falling price
In 2021, the company made provision for inventory falling price of 3.8442 million yuan, including 542100 yuan for raw materials and 3302100 yuan for goods in stock.
(IV) provision for impairment of contract assets
In 2021, the company made provision for impairment of contract assets of RMB 3.3161 million by portfolio. In 2021, the company reclassified the contract assets and reclassified the net contract assets with a term of more than one year to other non current assets, resulting in a decrease of 3.295 million yuan in the provision for impairment of contract assets.
(V) write off of provision for impairment of fixed assets
In 2021, the company reversed the provision for impairment of fixed assets by 13000 yuan, mainly for the disposal of scrapped fixed assets and the reversal of the provision for impairment of assets accrued in the previous period by 13000 yuan.
4、 The impact of the provision for asset impairment on the company's operating results
In 2021,
