Cosco Shipping Holdings Co.Ltd(601919) board of directors
Explanation on accounting estimate change of estimated net salvage value of the company's ships and containers
Cosco Shipping Holdings Co.Ltd(601919) (hereinafter referred to as "the company", "the company", together with its subsidiaries, collectively referred to as "the group") implemented the following changes in accounting estimates in 2021:
(1) Content of this accounting estimate change: adjust the estimated net salvage value of the group's ships and containers.
Estimated net residual value before adjustment estimated net residual value after adjustment
Category of fixed assets
(USD / light ton) (USD / light ton)
366 280
Ships and containers
(about 2329.2 yuan) 1 (about 1781.9 yuan)
(2) Reasons for this change in accounting estimates: according to the relevant provisions of the accounting standards for Business Enterprises No. 4 - fixed assets, at the end of each fiscal year, the enterprise shall review the expected service life, net residual value and depreciation method of fixed assets. If there is any difference between the expected service life and net residual value of fixed assets and the original accounting estimates, it shall be adjusted accordingly. In view of the changes in the estimated net salvage value of ships and containers, the estimated net salvage value of ships and containers of the group is adjusted accordingly.
(3) Effective date of this accounting estimate change: from October 1, 2021.
The change of accounting estimate has been unanimously approved at the 15th meeting of the 6th board of directors of the company. The board of directors of the company believes that the change of accounting estimates can more appropriately reflect the company's financial situation and operating results, provide more reliable and relevant accounting information, and the decision-making procedures comply with the relevant provisions of relevant laws and regulations, without damaging the interests of the company and shareholders. Agree to this accounting estimate change.
Cosco Shipping Holdings Co.Ltd(601919) board of directors March 30, 2022 1 exchange rate conversion benchmark: according to the central parity of RMB exchange rate authorized by China foreign exchange trading center on March 29, 2022, 1 US dollar
=6.3640 yuan. The same below.
