Securities code: Angel Yeast Co.Ltd(600298) securities abbreviation: Angel Yeast Co.Ltd(600298) Lin No. 2022043 Angel Yeast Co.Ltd(600298)
Announcement on the implementation of the new lease standards and the change of accounting policies
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.
Important content tips:
Angel Yeast Co.Ltd(600298) (hereinafter referred to as “the company”) this accounting policy change is a reasonable change in accordance with the requirements of relevant documents of the Ministry of finance, and 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 shareholders.
Changes in accounting policies implemented by the company in accordance with the requirements of the accounting standards for business enterprises revised and issued by the Ministry of finance need not be submitted to the board of directors, the board of supervisors and the general meeting of shareholders for deliberation.
1、 Overview of changes in accounting policies
(I) contents of this accounting policy change
According to the requirements of the accounting standards for Business Enterprises No. 21 – leasing (hereinafter referred to as the “new leasing standards”) revised and issued by the Ministry of finance of the people’s Republic of China in December 2018, enterprises listed at home and abroad and enterprises listed abroad and preparing financial statements using international financial reporting standards or accounting standards for business enterprises shall be implemented as of January 1, 2019; Other domestic listed enterprises shall be implemented as of January 1, 2021. Due to the revision of the above accounting standards, the company needs to make corresponding changes to the relevant accounting policies originally adopted.
(II) accounting policies adopted before change
Before the change of accounting policy, the company implemented the accounting standards for business enterprises – basic standards, various specific accounting standards, application guide of accounting standards for business enterprises, interpretation announcement of accounting standards for business enterprises and other relevant regulations issued by the Ministry of finance. (III) accounting policies adopted after change
After this accounting policy change, the company will implement the new leasing standards revised and issued by the Ministry of Finance in 2018. Other unchanged parts shall still be implemented in accordance with the accounting standards for business enterprises – basic standards, 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 in the early stage.
(IV) date of change
According to the requirements of the new leasing standards, the company will implement the new leasing standards from January 1, 2021.
2、 Details of this accounting policy change
The company adjusts the amount of retained earnings and other relevant items in the financial statements at the beginning of the year of initial implementation according to the cumulative impact of initial implementation, and does not adjust the information of comparable periods. The impact of the company’s implementation of the new leasing standards on the items of the consolidated balance sheet and the balance sheet of the parent company on January 1, 2021 is summarized as follows:
Consolidated statement items affected amount on December 31, 2020 January 1, 2021
assets:
Right to use assets 22103182672210318267
Long term deferred expenses 578353600 -246929670331423930
liabilities:
Non current liabilities due within one year: 1426126590483427249815095538402
Lease liabilities 1129116099
3、 The change of accounting policies and its impact on the company
This accounting policy change and the company’s application of the new leasing standards are reasonable changes made according to the requirements of relevant documents of the Ministry of finance, which can more objectively and fairly reflect the company’s financial status, operating results and actual situation, provide more reliable and accurate accounting information, comply with relevant regulations, the actual situation of the company and the relevant provisions of the accounting standards for business enterprises. This accounting policy change will not have a significant impact on the company’s financial situation, operating results and cash flow, and there is no damage to the interests of the company and shareholders.
It is hereby announced.
Angel Yeast Co.Ltd(600298) board of directors March 29, 2022
