Stock Code: Xinjiang Goldwind Science And Technology Co.Ltd(002202) stock abbreviation: Xinjiang Goldwind Science And Technology Co.Ltd(002202) Announcement No.: 2022013 Xinjiang Goldwind Science And Technology Co.Ltd(002202)
Announcement on changes in accounting policies
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.
On March 25, 2022, the 25th meeting of the seventh board of directors of Xinjiang Goldwind Science And Technology Co.Ltd(002202) (hereinafter referred to as “the company”) deliberated and adopted the proposal on the change of Xinjiang Goldwind Science And Technology Co.Ltd(002202) accounting policies, as follows:
1、 Overview of changes in accounting policies
(I) reasons for changes in accounting policies
On December 31, 2021, the Ministry of Finance issued the notice on printing and distributing the interpretation of accounting standards for Business Enterprises No. 15 (CAI Kuai [2021] No. 35, hereinafter referred to as “Interpretation No. 15”), which stipulates the accounting treatment of the external sales of products or by-products produced before the fixed assets reach the expected serviceable state or in the process of research and development, the presentation of centralized fund management and the judgment of loss contracts. The company adjusts relevant accounting policies accordingly in accordance with the above requirements.
(II) time of accounting policy change
Since January 1, 2022, the company has implemented the provisions of Interpretation No. 15 on the accounting treatment of the external sales of products or by-products produced before the fixed assets reach the expected usable state or in the process of research and development, as well as the judgment of loss contracts; The provisions of the Interpretation No. 15 on the presentation of centralized fund management shall be implemented as of December 31, 2021.
(III) before change of accounting policy
Before this change, the company implemented the accounting standards for business enterprises – basic standards, various specific accounting standards, application guidelines of accounting standards for business enterprises, accounting standards interpretation announcement and other relevant provisions issued by the Ministry of finance, as well as all international financial reporting standards, international accounting standards and interpretation announcement issued by the International Accounting Standards Board.
(IV) accounting policies adopted after change
After this change, the company will implement the provisions of Interpretation No. 15 issued by the Ministry of Finance in December 2021. The remaining unchanged parts still adopt the accounting standards for business enterprises – Basic Standards and various specific accounting standards, the application guide of accounting standards for business enterprises, the interpretation announcement of accounting standards for business enterprises and other relevant provisions issued by the Ministry of finance, as well as other international financial reporting standards, international accounting standards and interpretation announcements issued by the international accounting standards board.
(V) main contents of this accounting policy change
1. Interpretation No. 15 specifies the accounting treatment for the external sales of products or by-products produced before the fixed assets reach the expected usable state or in the process of R & D, mainly including the following contents:
(1) If an enterprise sells the products or by-products produced before the fixed assets reach the expected serviceable state or during the research and development process (hereinafter referred to as trial operation sales), it shall, in accordance with the accounting standards for Business Enterprises No. 14 – revenue, accounting standards for Business Enterprises No. 1 – inventory and other provisions, separately account for the income and costs related to trial operation sales and record them into the current profits and losses, The net amount of the revenue from trial operation sales after offsetting the relevant costs shall not be used to offset the fixed assets
(2) An enterprise shall, in accordance with the accounting standards for Business Enterprises No. 1 – inventory, accounting standards for Business Enterprises No. 14 – revenue, accounting standards for Business Enterprises No. 30 – presentation of financial statements and other provisions, judge whether the trial operation sales belong to the daily activities of the enterprise, and list the relevant income and costs of the trial operation sales in the financial statements respectively in the daily activities and non daily activities, which belong to the daily activities, Listed in the items of “operating income” and “operating cost”, and those belonging to non daily activities are listed in the items of “income from asset disposal”. At the same time, the enterprise shall separately disclose the relevant income and cost amount of trial operation sales, the specific reporting items and the important accounting estimates used in determining the relevant costs of trial operation sales in the notes.
(3) The enterprise shall make retroactive adjustment in accordance with the provisions of this interpretation for the trial operation sales between the beginning of the earliest period for the presentation of the financial statements for the first time to the date of implementation of this interpretation; If the retroactive adjustment is not feasible, the enterprise shall apply the provisions of this interpretation from the beginning of the earliest period of retroactive adjustment, and disclose the specific reasons for the failure of retroactive adjustment in the notes.
2. Interpretation No. 15 regulates the presentation of centralized and unified management of the funds of the parent company and member units through internal settlement centers and financial companies.
If the financial statements of the enterprise before the issuance of Interpretation No. 15 are not presented in accordance with the above provisions, the financial statement data of the comparable period shall be adjusted accordingly in accordance with Interpretation No. 15.
3. Interpretation No. 15 regulates the judgment of loss contracts and defines the composition of contract performance costs.
For contracts that have not fulfilled all obligations at the time of the first implementation of this interpretation, the cumulative impact amount shall be adjusted to the retained earnings and other relevant financial statement items at the beginning of the year when this interpretation is first implemented, and the data of comparative financial statements in the previous period shall not be adjusted.
2、 Impact of this accounting policy change on the company
This accounting policy change is a corresponding change made by the company in accordance with the latest accounting standards revised by the Ministry of finance, which complies with the provisions of relevant laws and regulations and the actual situation of the company, will not have a significant impact on the company’s financial status, operating results and cash flow, and will not damage the interests of the company and all shareholders.
3、 Opinions of the board of directors
At the 25th meeting of the 7th board of directors of the company, the proposal on the change of Xinjiang Goldwind Science And Technology Co.Ltd(002202) accounting policy was adopted by 9 votes in favor, 0 votes against and 0 abstentions on March 25, 2022, agreeing to the change of accounting policy.
After review, the board of Directors believes that the change of the company’s accounting policies is carried out in accordance with the relevant documents of the Ministry of Finance and in line with the provisions of relevant laws, regulations and accounting standards for business enterprises. The changed accounting policies can objectively and fairly reflect the company’s financial status and operating results, and will not have a significant impact on the company’s financial status, operating results and cash flow, There is no situation that damages the interests of the company and all shareholders, especially minority shareholders.
4、 Opinions of the board of supervisors
This accounting policy change is a reasonable change and adjustment made in accordance with the provisions issued by the Ministry of finance. The implementation of the new accounting policy change can objectively and fairly reflect the company’s financial status and operating results; The relevant decision-making procedures of this accounting policy change comply with relevant laws and regulations and the articles of association, and there is no damage to the interests of the company and shareholders. We agree to this accounting policy change.
It is hereby announced.
Xinjiang Goldwind Science And Technology Co.Ltd(002202) board of directors
March 25, 2022
