Securities code: Nanjing Baose Co.Ltd(300402) securities abbreviation: Nanjing Baose Co.Ltd(300402) Announcement No.: 2022012 Nanjing Baose Co.Ltd(300402)
Announcement on changes in accounting policies
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Nanjing Baose Co.Ltd(300402) (hereinafter referred to as the “company”) changes the corresponding accounting policies in accordance with the 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”), and in accordance with the guidelines for self discipline supervision of listed companies on Shenzhen Stock Exchange No. 2 – standardized operation of companies listed on GEM and other relevant provisions, This change of accounting policy of the company belongs to the change of accounting policy required by laws and regulations or the national unified accounting system. This matter does not need to be submitted to the board of directors and the general meeting of shareholders for deliberation. The details of relevant accounting policy changes are as follows: I. overview of this accounting policy change
1. Reason for change
The Ministry of Finance issued the interpretation of accounting standards for Business Enterprises No. 14 (CAI Kuai [2021] No. 1, hereinafter referred to as “Interpretation No. 14”) on February 2, 2021, which shall come into force as of the date of promulgation; The interpretation of accounting standards for Business Enterprises No. 15 (CAI Kuai [2021] No. 35, hereinafter referred to as “Interpretation No. 15”) was issued on December 31, 2021 and will be implemented as of the date of promulgation.
2. Change date
According to the regulations, the company shall implement the above enterprise accounting policies on the starting date specified in the above documents.
3. Accounting policies adopted by the company before change
Before the change of accounting policy, the company implemented the accounting standards for business enterprises – basic standards, various specific accounting standards, application guidelines of accounting standards for business enterprises, interpretation announcement of accounting standards for business enterprises and other relevant provisions issued by the Ministry of finance.
4. Accounting policies adopted by the company after change
After this accounting policy change, the company will implement Interpretation No. 14 and Interpretation No. 15. In addition to the above changes, other unchanged parts of the company are still implemented in accordance with the accounting standards for business enterprises – basic standards, various specific accounting standards, application guidelines of accounting standards for business enterprises, interpretation announcement of accounting standards for business enterprises and other relevant provisions issued by the Ministry of Finance in the early stage.
2、 Impact of this accounting policy change on the company
Interpretation No. 14 stipulates the accounting treatment of the social capital party for the government and social capital cooperation (PPP) project contract, and the accounting treatment of the change in the basis for determining the cash flow of relevant contracts caused by the reform of the benchmark interest rate. The company’s implementation of Interpretation No. 14 has no significant impact on the financial statements during the reporting period.
Interpretation No. 15 regulates the presentation of centralized and unified management of the funds of the parent company and member units through internal settlement centers and financial companies. According to the provisions of Interpretation No. 15, the company has no adjustment to the statement items of the comparable period of December 31, 2020.
This accounting policy change is a corresponding change made by the company according to the interpretation of the latest accounting standards revised by the Ministry of finance, which complies with the provisions of relevant laws and regulations, does not involve the retroactive adjustment of the company’s previous years, will not have an impact on the company’s owner’s equity, net profit and other financial status and operating results, and will not damage the interests of the company and all shareholders, especially minority shareholders.
It is hereby announced.
Nanjing Baose Co.Ltd(300402) board of directors April 1, 2022
