Securities code: Ningbo Ronbay New Energy Technology Co.Ltd(688005) securities abbreviation: Ningbo Ronbay New Energy Technology Co.Ltd(688005) Announcement No.: 2022014 Ningbo Ronbay New Energy Technology Co.Ltd(688005)
Announcement on changes in 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 legal responsibility for the authenticity, accuracy and integrity of its contents according to law.
Important content tips:
Ningbo Ronbay New Energy Technology Co.Ltd(688005) (hereinafter referred to as “the company”) reclassified the transportation costs incurred in the performance of customer sales contracts from “sales expenses” to “operating costs” in accordance with the relevant provisions of the question and answer on the implementation of accounting standards for business enterprises issued by the Ministry of finance of the people’s Republic of China (hereinafter referred to as “the Ministry of finance”) on November 2, 2021, and retroactively adjusted the relevant subjects of 2020 financial statements. This accounting policy change will not have a significant impact on the company’s financial position, operating results and cash flow.
1、 Overview of changes in accounting policies
（1） Reasons for changes in accounting policies
On November 2, 2021, the accounting department of the Ministry of Finance issued a question and answer on the implementation of accounting standards for business enterprises, It is clearly stipulated that “under normal circumstances, the transportation activities before the control of the enterprise’s goods or services is transferred to the customer and in order to perform the customer’s contract do not constitute a single performance obligation, and the relevant transportation costs shall be regarded as the contract performance costs, amortized on the same basis as the recognition of the revenue of goods or services, and included in the current profit and loss. The contract performance costs shall be listed in the ‘operating costs’ item of the income statement.”
According to the above requirements, the company will reclassify the transportation costs incurred in performing the customer sales contract from “sales expenses” to “operating costs” from January 1, 2021, and retroactively adjust the relevant items in the 2020 financial statements.
（2） Accounting policies adopted before this change
Before the change of accounting policy, the company listed the transportation costs incurred in performing the customer’s sales contract in the “sales expenses” item
2、 Impact of changes in accounting policies on the company
1. The transportation costs incurred for the performance of the sales contract are listed in the “operating costs” item, which will have an impact on the company’s sales expenses and operating costs, and will not have a significant impact on other important financial indicators.
2. The company will retroactively adjust the relevant subjects of the 2020 financial statements, and the specific adjustments are as follows:
Unit: yuan currency: RMB
Affected amount
Affected report items
Parent company of consolidated statement
Profit statement items in 2020
Selling expenses -1988132613 -289715162
Operating cost 1988132613289715162
2020 cash flow statement project
Cash paid for purchasing goods and receiving labor services 1988132613289715162
Other cash paid related to operating activities -1988132613 -289715162
3、 Approval procedures and opinions of the board of supervisors and independent directors
On March 28, 2022, the company held the 11th meeting of the second board of directors and the 8th meeting of the second board of supervisors, and deliberated and adopted the proposal on accounting policy change respectively. The independent directors, the audit committee and the board of supervisors all agree with the accounting policy change and believe that the accounting policy change of the company complies with the relevant provisions of the Ministry of finance, the China Securities Regulatory Commission and the Shanghai Stock Exchange, can accurately reflect the financial status and operating results of the company, and is also in line with the interests of the company and all shareholders.
It is hereby announced.
Ningbo Ronbay New Energy Technology Co.Ltd(688005) board of directors March 30, 2022
