Stock Code: Oriental Times Media Corporation(002175) stock abbreviation: ST Dongwang Announcement No.: 2022014 Oriental Times Media Corporation(002175)
Announcement on the provision for asset impairment and write off of assets 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.
1、 Overview of the provision for asset impairment and write off of assets this time
1. The basis and reasons for the current provision for asset impairment and write off of assets
Oriental Times Media Corporation(002175) (hereinafter referred to as "the company") the provision for asset impairment this time is based on the principle of prudence and in order to truly and accurately reflect the company's financial, assets and operating conditions, in accordance with the stock listing rules of Shenzhen Stock Exchange, accounting standards for business enterprises and relevant provisions of the company's accounting policies A comprehensive inventory of notes receivable, inventories, other receivables, long-term equity investment, fixed assets, construction in progress, intangible assets and other assets has been conducted, the possibility of impairment of various assets has been fully evaluated and analyzed, and the provision for asset impairment has been determined. At the same time, in accordance with the accounting standards for business enterprises and relevant accounting policies of the company, individual receivables of the company with conclusive evidence indicating that they cannot be recovered have been written off.
2. Provision for asset impairment and write off of assets this time
In 2021, the total amount of provision for credit impairment and asset impairment of the company's accounts receivable, other accounts receivable and inventory was 9.3855 million yuan, and the amount of written off assets was 3301379 million yuan. The details are as follows: unit: 10000 yuan
Accrual basis of the project in 2021
1、 Credit impairment loss 409.65
Including: accounts receivable -681.51 according to the relevant provisions of accounting standards for Business Enterprises No. 22 - recognition and measurement of other receivables by financial instruments 109116
2、 Asset impairment loss 528.90
Of which: inventory 528.90 is in accordance with the relevant provisions of the accounting standards for Business Enterprises No. 1 - inventory
Total 938.55
Asset category write off asset amount write off basis
According to the civil ruling of the people's Court of Qixing District, Guilin City, Guangxi Zhuang Autonomous Region ((2020) GUI 0305 minpo No. 1-4), other receivables 3251379 terminated the bankruptcy proceedings of Guilin Oriental times Investment Co., Ltd. The debtor based on the accounts receivable has completed bankruptcy liquidation, and it is confirmed that the accounts receivable can not be recovered, and the company will write off the accounts receivable.
According to the ruling of the people's Court of Qixing District, Guilin City, Guangxi Zhuang Autonomous Region on the civil ruling of 500.00 long-term equity investment ((2020) GUI 0305 minpo No. 1-4), the bankruptcy procedure of Guilin Oriental times Investment Co., Ltd. was terminated. be based on
Therefore, the company will write off the equity investment.
Total 3301379
Note: the original value of other receivables written off above is 325137900 yuan, and the bad debt provision has been fully withdrawn, and its book value is 10000 yuan.
2、 The recognition standard and withdrawal method of the provision for asset impairment this time
(I) accounts receivable
The company assesses the expected credit loss of receivables based on individual and combination. If there is objective evidence indicating that the credit impairment of receivables has occurred, the company determines the expected credit loss of receivables on the basis of single assets. In addition to the receivables that individually assess the credit risk, the company divides the receivables into different combinations based on the credit risk characteristics of the receivables, and calculates the expected credit loss on the basis of the combination. For the accounts receivable divided into portfolio, refer to the experience of historical credit loss, combined with the current situation and the prediction of future economic conditions, prepare the comparison table between the aging of accounts receivable and the expected credit loss rate throughout the duration, and calculate the expected credit loss. For other receivables 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 in the next 12 months or the whole duration.
(II) provision for inventory impairment
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. The net realizable value of inventory is the amount after the estimated selling price of inventory minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes.
3、 The impact of the provision for asset impairment and write off of assets on the company
The company's provision for impairment of various assets this time totaled 9.3855 million yuan, which will reduce the net profit of the company's consolidated profit statement in 2021 by 9.3855 million yuan; The total assets written off this time are 3301379 million yuan, which will not affect the net profit of the consolidated profit statement. The provision for asset impairment and write off of assets this time comply with the accounting standards for business enterprises and relevant policies and regulations, comply with the actual situation of the company's assets, can more fairly reflect the company's asset status, and can make the company's accounting information on asset value more authentic, reliable and reasonable. The amount of provision for impairment of various assets and write off assets has been audited by the annual audit accounting firm.
It is hereby announced.
Oriental Times Media Corporation(002175) board of directors March 25, 2002
