Securities code: Shanghai Putailai New Energy Technology Co.Ltd(603659) securities abbreviation: Shanghai Putailai New Energy Technology Co.Ltd(603659) Announcement No.: 2022023 Shanghai Putailai New Energy Technology Co.Ltd(603659)
Announcement on the provision for asset impairment
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.
In accordance with the accounting standards for business enterprises and relevant accounting policies, in order to truly and fairly reflect the financial status and operating results of Shanghai Putailai New Energy Technology Co.Ltd(603659) (hereinafter referred to as "the company"), the company held the fourth meeting of the third board of directors and the third meeting of the third board of supervisors on March 28, 2022, deliberated and adopted the proposal on the provision for asset impairment, and agreed that the provision for impairment of RMB 1701377 million should be included in the current profits and losses, The relevant information is hereby announced as follows:
1、 Overview of the provision for asset impairment this time
The total amount of provision for impairment of various assets included in current profit and loss in 2021 is 1701377 million yuan. See the following table for details:
Asset Name: amount of asset impairment provision included in current profit and loss in 2021
Long term equity investment: 60 million yuan
Inventory 491777 million yuan
Accounts receivable 459315 million yuan
Other receivables: 5.7219 million yuan
Construction in progress: 9.3065 million yuan
Total 1701377 million yuan
Note: if there is a tail difference in the above data, it is caused by rounding.
（1） Long term equity investment
According to the accounting standards for business enterprises and the company's accounting policies, the book value of the revitalization carbon material project in the company's long-term equity investment is greater than the book value of the owner's equity of the invested unit. After the impairment test, the recoverable amount is lower than the book value of the long-term equity investment. The provision for impairment of long-term equity investment is 60 million yuan in this period, including 60 million yuan of asset impairment loss attributable to the company.
（2） Stock
The company's inventory is measured according to the lower of cost and net realizable value. If the cost is higher than the net realizable value, the inventory falling price reserves are accrued and included in the current profits and losses. If the influencing factors of the previous provision for inventory falling price have disappeared, so that the net realizable value of the inventory is higher than its book value, the previously written down amount shall be restored within the original provision for inventory falling price, and the reversed amount shall be included in the current profit and loss. In 2021, the amount of inventory falling price reserves included in the current profit and loss of the company was 491777 million yuan.
(III) accounts receivable
After checking and analyzing the post period collection of accounts receivable, the litigation situation of accounts receivable, the credit loss model, the migration rate of accounts receivable, the historical loss rate and the expected loss rate, the bad debt provision of accounts receivable included in the current profit and loss of the company in 2021 was 459315 million yuan.
(IV) other receivables
Based on the expected credit loss, the company recognized the bad debt provision of other receivables. In 2021, the bad debt provision of other receivables included in the current profit and loss was RMB 5.7219 million.
(V) construction in progress
The company comprehensively inspected the construction in progress and analyzed and calculated the construction in progress in which the provision for impairment should be accrued. In 2021, the amount of provision for impairment of construction in progress included in the current profit and loss was 9.3065 million yuan.
2、 Impact of the current provision for asset impairment on Listed Companies
The company's provision for asset impairment included in the profit and loss of 2021 is 1701377 million yuan, affecting the total profit of 1701377 million yuan in the reporting period. The provision for asset impairment will not have a significant impact on the normal operation of the company.
3、 Decision making procedures performed by the company
（1） Convening, deliberation and voting of the board meeting
On March 28, 2022, the company held the fourth meeting of the third board of directors. After deliberation, the board of directors unanimously adopted the proposal on the provision for asset impairment, and agreed that the asset impairment provision of 1701377 million yuan should be included in the current profit and loss.
（2） Opinions of independent directors
After deliberation, the independent directors believe that the provision for asset impairment is in line with the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, and the basis is sufficient and reasonable. Therefore, we agree to withdraw the provision for asset impairment this time. （3） Opinions of the board of supervisors
On March 28, 2022, the company held the third meeting of the third board of supervisors. After deliberation, the board of supervisors of the company considered that the provision for asset impairment of the company was in line with the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, and the decision-making procedures were legal and compliant, and agreed to the provision for asset impairment this time.
It is hereby announced.
Shanghai Putailai New Energy Technology Co.Ltd(603659) board of directors March 29, 2022
