Securities code: China Aluminum International Engineering Corporation Limited(601068) securities abbreviation: China Aluminum International Engineering Corporation Limited(601068) Announcement No.: 2022025 China Aluminum International Engineering Corporation Limited(601068)
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.
If any director cannot guarantee or has any objection to the authenticity, accuracy and completeness of the interim announcement, the company shall give special tips in the announcement.
Important content: the company has changed the accounting policy of government subsidies within the scope specified in the accounting standards for Business Enterprises No. 16 - government subsidies since 2021. At the same time, the data of previous years shall be retroactively adjusted in accordance with the relevant provisions of the accounting standards for Business Enterprises No. 28 - changes in accounting policies and accounting estimates and error correction. The change of government subsidy accounting policy to reclassification adjustment of different subjects will not have an impact on the company's net assets, profits and cash flow. This accounting policy change does not need to be submitted to the general meeting of shareholders for deliberation.
1、 Overview of changes in accounting policies
In May 2017, the Ministry of Finance issued the notice on Issuing and revising the accounting standards for Business Enterprises No. 16 - government subsidies (CK [2017] No. 15), which revised the accounting standards for Business Enterprises No. 16 - government subsidies. According to the revised accounting standards for Business Enterprises No. 16 - government subsidies, government subsidies can be accounted by total amount method and net amount method. Before the change of accounting policy, the company adopts the total amount method to calculate all government subsidies.
In order to make the financial report more accurately reflect the essence of the company's economic business and realize the internal accurate management assessment, the company has changed the accounting policy of the company's government subsidies since 2021 within the scope of the accounting standards for Business Enterprises No. 16 - government subsidies. The government subsidies that meet the accounting conditions of the net method are calculated by the net method instead of the total method. At the same time, The accounting standards for business enterprises - No. 28 changes in accounting policies, retroactive adjustment and correction of accounting errors in previous years shall be adopted according to the accounting standards for business enterprises - No. 28 changes in accounting policies.
On March 28, 2022, the 46th meeting of the third board of directors and the 26th meeting of the third board of supervisors deliberated and adopted the proposal on the change of the company's government subsidy accounting policy.
2、 Main contents of this accounting policy change and its impact on the company
(I) main contents of this accounting policy change
The change of government subsidy accounting policy mainly offsets the book value of relevant assets from the government subsidy related to assets and is no longer included in deferred income; The government subsidies related to income used to compensate the relevant costs, expenses or losses of the enterprise shall be offset against the relevant costs, expenses or non operating expenses, and shall not be included in other income or non operating income; In addition to the above, other types of government subsidies are still included in deferred income, other income or non operating income.
(II) impact of this accounting policy change on the company
This accounting policy change of the company adopts the retroactive adjustment method to retroactively adjust the data of previous years. The reclassification adjustment of the accounting policy change to different subjects will not have an impact on the company's net assets, profits and cash flow, and there is no damage to the interests of the company and shareholders. The impact of this accounting policy change on the subjects of the company's balance sheet and income statement as of December 31, 2020 is as follows:
1. Adjustment of relevant items in the balance sheet
December 31, 2020
Project adjustment amount
After adjustment
Fixed assets 232880568659232161985159 -718583500
Intangible assets 118026840373116227576768 -1799263605
Deferred income 8523450439 Beijing Aritime Intelligent Control Co.Ltd(600560) 3334 -2517847105
2. Adjustment of relevant items in the income statement
January December 2020
Project adjustment amount
After adjustment
Operating cost 20952852459212092143015825 -314230096
Administrative expenses 103781965256100037108296 -3744856960
Other income 7001731719284941387 -6716790332
Non operating income 69331875056723036576 -210150929
Non operating expenses 12547061681214851963 -39854205
3、 Opinions of independent directors and board of supervisors
The independent directors and the board of supervisors of the company agree with the change of the company's accounting policy and believe that the change of the accounting policy is made within the scope specified in the domestic and foreign accounting standards. The changed accounting policy can make the financial report more accurately reflect the essence of the company's economic business, and the change of the accounting policy will not have an impact on the company's net assets, profits and cash flow, and will not damage the interests of the company and all shareholders; The review procedures of this accounting policy change comply with the provisions of relevant laws, regulations and the articles of association.
4、 Online announcement attachment
(I) China Aluminum International Engineering Corporation Limited(601068) independent opinions on relevant matters at the 46th meeting of the third board of directors;
(II) China Aluminum International Engineering Corporation Limited(601068) board of directors' statement on changes in accounting policies;
(III) China Aluminum International Engineering Corporation Limited(601068) board of supervisors' statement on changes in accounting policies;
(IV) special report on China Aluminum International Engineering Corporation Limited(601068) accounting policy change. It is hereby announced.
China Aluminum International Engineering Corporation Limited(601068) the board of directors reported the document on March 28, 2022
(I) China Aluminum International Engineering Corporation Limited(601068) resolution of the 46th meeting of the third board of directors
(II) China Aluminum International Engineering Corporation Limited(601068) resolution of the 26th meeting of the third board of supervisors
(III) China Aluminum International Engineering Corporation Limited(601068) independent opinions on relevant matters at the 46th meeting of the third board of directors
