Securities code: Shanghai Putailai New Energy Technology Co.Ltd(603659) securities abbreviation: Shanghai Putailai New Energy Technology Co.Ltd(603659) Announcement No.: 2022018 Shanghai Putailai New Energy Technology Co.Ltd(603659)
Announcement on change of accounting policy
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
According to the regulations of the Ministry of finance, the company will implement the new lease standard from January 1, 2021 and the new income standard from January 1, 2020.
This accounting policy change is an adjustment made in accordance with the relevant accounting standards revised by the Ministry of Finance and will not have a significant impact on the company's financial status and operating results.
According to the notice on revising and Issuing the accounting standards for Business Enterprises No. 14 - Revenue (CK [2017] No. 22) (hereinafter referred to as the "new revenue standard") and the notice on revising and Issuing the accounting standards for Business Enterprises No. 21 - leasing (CK [2018] No. 35) (hereinafter referred to as the "new leasing standard") issued by the Ministry of Finance on December 7, 2018 and July 5, 2017 respectively, the company made changes to the corresponding accounting policies, The details are as follows: I. reasons for changes in accounting policies
(I) new lease criteria
On December 7, 2018, the Ministry of Finance issued the notice on revising and Issuing the accounting standards for Business Enterprises No. 21 - leasing (CK [2018] No. 35). Enterprises that are required to be listed both at home and abroad and enterprises that are listed overseas and adopt international financial reporting standards or accounting standards for business enterprises to prepare financial statements shall be implemented as of January 1, 2019; Other enterprises that implement the accounting standards for business enterprises shall be implemented as of January 1, 2021.
(II) new income standard
On July 5, 2017, the Ministry of Finance issued the notice on revising and Issuing the accounting standards for Business Enterprises No. 14 - Revenue (CK [2017] No. 22). Enterprises that are required to be listed at the same time at home and abroad and enterprises that are listed abroad and adopt international financial reporting standards or enterprise association standards to prepare financial statements shall be implemented as of January 1, 2018; Other domestic listed enterprises shall be implemented as of January 1, 2020; Non listed enterprises that implement the accounting standards for business enterprises shall go into effect as of January 1, 2021.
According to the above provisions of the Ministry of finance, the company will implement the new lease standard from January 1, 2021 and the new income standard from January 1, 2020.
2、 Impact of this accounting policy change on the company
This accounting policy change is an adjustment made in accordance with the relevant accounting standards revised by the Ministry of Finance and will not have a significant impact on the company's financial status and operating results. The specific impact of this accounting policy change on the name and amount of the company's statement items is as follows:
(I) new lease criteria
Since January 1, 2021, the group has carried out accounting treatment in accordance with the newly revised leasing standards. For the existing contracts before the first execution date, the group has chosen not to re evaluate whether they are leases or contain leases, and the information of comparable periods will not be adjusted according to the connection provisions. The difference between the new leasing standards on the first execution date and the current leasing standards will retroactively adjust the retained earnings at the beginning of 2021. The names and amounts of the statement items that are significantly affected are: at the beginning of 2021, the use right assets were increased by 21900142662 yuan, the fixed assets were decreased by 18427242564 yuan, the lease liabilities were increased by 10936048885 yuan, the non current liabilities due within one year were increased by 1054337598 yuan, and the long-term accounts payable were decreased by 8517486385 yuan.
The above contents have been disclosed in the column of "change of important accounting policies and accounting estimates in Article 44 of section X" in the annual report of 2021.
(II) new income standard
The company only adjusts the cumulative impact of contracts that have not been completed on January 1, 2020. For contract changes that occur before January 1, 2020, the company adopts a simplified treatment method to identify the performed and unfulfilled performance obligations, determine the transaction price and apportion the transaction price between the performed and unfulfilled performance obligations for all contracts according to the final arrangement of contract changes. Based on the inspection of the sales contracts that have not been executed as of December 31, 2019, the company believes that the simplified treatment method has no significant impact on the company's financial statements, mainly because the revenue recognized by the company based on risk reward transfer is synchronized with the realization of the performance obligations of the sales contract, and the company's sales contract usually corresponds to the performance obligations one by one. The names and amounts of the statement items that are significantly affected are as follows: in 2020, the beginning advance receipts will be reduced by 71658468793 yuan, and the contract liabilities will be increased by 71658468793 yuan.
The above contents have been disclosed by the company in the column of "change of important accounting policies and accounting estimates in section Xi, Article 5, item 44" of the 2020 annual report.
It is hereby announced.
Shanghai Putailai New Energy Technology Co.Ltd(603659) board of directors March 29, 2022
