Sdic Zhonglu Fruit Juice Co.Ltd(600962)
Year 2021
audit report
Index page number
Audit report financial statements of the company
– consolidated balance sheet 1-2
– balance sheet of parent company 3-4
– consolidated income statement 5
– income statement of the parent company 6
– consolidated cash flow statement 7
– cash flow statement of the parent company 8
– Consolidated Statement of changes in shareholders’ equity 9-10
– statement of changes in shareholders’ equity of the parent company 11-12
– Notes to financial statements 13-107
ShineWing certified public accountants, Chaoyang men North Street, Dongcheng District, Beijing Tel: + 86 (010) 65542288, 9 / F, block a, Fu Hua Manson,
ShineWing No.8, Chaoyangmen Beidajie,
Dongcheng District, Beijing, fax: + 86 (010) 65547190 certified public accounts 100027, P.R.China facile: + 86 (010) 65547190 audit report
XYZH/2022BJAA60117
Sdic Zhonglu Fruit Juice Co.Ltd(600962) all shareholders:
1、 Audit opinion
We have audited the financial statements of Sdic Zhonglu Fruit Juice Co.Ltd(600962) (hereinafter referred to as Sdic Zhonglu Fruit Juice Co.Ltd(600962) company), including
Consolidated and parent company’s balance sheet as of December 31, 2021, consolidated and parent company’s income statement and consolidated income statement in 2021
And the cash flow statement of the parent company, the consolidated statement of changes in shareholders’ equity of the parent company, and the notes to relevant financial statements.
In our opinion, the attached financial statements are prepared in accordance with the accounting standards for business enterprises in all material aspects and present fairly
The consolidated and parent company financial status of Sdic Zhonglu Fruit Juice Co.Ltd(600962) company on December 31, 2021 and the consolidated and parent company in 2021
Operating results and cash flow of the company.
2、 Basis for forming audit opinions
We conducted our audit in accordance with the auditing standards for Chinese certified public accountants. The “responsibilities of certified public accountants for the audit of financial statements” in the audit report further expounds our responsibilities under these standards. In accordance with the code of professional ethics for Chinese certified public accountants, we are independent of Sdic Zhonglu Fruit Juice Co.Ltd(600962) company and have fulfilled other responsibilities in terms of professional ethics. We believe that the audit evidence we have obtained is sufficient and appropriate, which provides a basis for our audit opinion.
3、 Key audit matters
The key audit matters are the most important matters that we consider to audit the current financial statements according to our professional judgment. The response to these matters is based on the overall audit of the financial statements and the formation of audit opinions. We will not express separate opinions on these matters.
The key audit matters identified in our audit are summarized as follows: 1 Revenue recognition
Countermeasures in key audit matters
Our main audit procedures:
(1) Understand, test and evaluate the internal control of sales and collection; (2) Understand and evaluate whether the time point of revenue recognition is correct;
Refer to note IV, 27 revenue recognition (3) of the financial statements to analyze and check whether the changes in revenue and its composition are abnormal; Principles and measurement methods and notes VI and 36 to the financial statements to review whether the change trend of selling price is consistent with the market;
Operating income and operating cost. (4) Check the change of gross profit margin, check whether it is abnormal, and compare it with the same industry;
Sdic Zhonglu Fruit Juice Co.Ltd(600962) company realized from January to December 2021: (5) for the export revenue, obtain the export data and verify the book revenue of 14498612 million yuan. The amount of revenue is significant and accurate. Carry out the detail test, check and trace to the sales contract and sales as the key indicators, and more than 80% of your products are sold for export, such as invoice, invoice, export declaration form, freight bill of lading and so on. There are certain difficulties in the verification of export revenue and materials; Therefore, we regard revenue recognition as the key audit matter. (6) for domestic sales revenue, check the contracts and items related to revenue.
Sales invoice, delivery order, transportation order and customer receipt, etc; (7) Perform a cut-off test to check whether there is a cross period of income;
(8) Check the authenticity of revenue recognition in combination with accounts receivable letters.
2. Inventory impairment
Countermeasures in key audit matters
Our main audit procedures:
(1) Understand, evaluate and test the rationality and operation effectiveness of the internal control design of inventory and financial customs in accordance with the provision for inventory falling price. See note IV and 15 of the financial statements; Notes VI and 5 to the financial statements. (2) Understand and evaluate the appropriateness of the company’s inventory falling price provision policy;
As of December 31, 2021, Sdic Zhonglu Fruit Juice Co.Ltd(600962) (3) according to the evaluation, the book value of the company’s inventory in the normal operation of directly sold inventory by the management is 835039700 yuan, the expected reasonable proportion of the sales expenses and relevant taxes to the total assets at the end of the period is 35.95%, and the inventory assets; The asset value is significant, and the inventory impairment has a great impact on the current period. (4) implement the inventory supervision procedure for the ending inventory and check the inventory quantity, so the inventory impairment is regarded as a key audit event. Pay attention to the real situation of inventory;
(5) Review the correctness of the provision for inventory falling price;
(6) Review the reasonableness of the provision for inventory falling price written off in the current period.
4、 Other information
Sdic Zhonglu Fruit Juice Co.Ltd(600962) the management of the company (hereinafter referred to as the management) is responsible for other information. Other information includes the information covered in the 2021 annual report of Sdic Zhonglu Fruit Juice Co.Ltd(600962) company, but does not include the financial statements and our audit report.
Our audit opinion on the financial statements does not cover other information, and we will not issue any form of assurance conclusion on other information.
In combination with our audit of the financial statements, our responsibility is to read other information and consider whether other information is materially inconsistent with the financial statements or the information we have learned in the audit process, or there seems to be material misstatement.
Based on the work we have performed, if we determine that there is a material misstatement in other information, we should report that fact. In this regard, we have nothing to report.
5、 Responsibilities of management and governance for financial statements
The management is responsible for preparing the financial statements in accordance with the provisions of the accounting standards for business enterprises to achieve a fair reflection, and designing, implementing and maintaining necessary internal control so that the financial statements are free from material misstatement caused by fraud or error.
When preparing the financial statements, the management is responsible for evaluating the going concern ability of Sdic Zhonglu Fruit Juice Co.Ltd(600962) company, disclosing matters related to going concern (if applicable), and applying the going concern assumption, unless the management plans to liquidate Sdic Zhonglu Fruit Juice Co.Ltd(600962) company, terminate operation or have no other realistic choice.
The management is responsible for supervising the financial reporting process of Sdic Zhonglu Fruit Juice Co.Ltd(600962) company.
6、 Responsibilities of certified public accountants for the audit of financial statements
Our goal is to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement due to fraud or error, and issue an audit report containing audit opinions. Reasonable assurance is a high-level assurance, but it does not guarantee that the audit performed in accordance with the audit standards will always be found when a major misstatement exists. Misstatement may be caused by fraud or error. If it is reasonably expected that the misstatement alone or in summary may affect the economic decisions made by the users of the financial statements based on the financial statements, the misstatement is generally considered to be significant.
In the process of carrying out the audit work in accordance with the audit standards, we use professional judgment and maintain professional doubt. At the same time, we also carry out the following work:
(1) Identify and assess the risks of material misstatement of financial statements due to fraud or error, design and implement audit procedures to deal with these risks, and obtain sufficient and appropriate audit evidence as the basis for issuing audit opinions. Since fraud may involve collusion, forgery, intentional omission, misrepresentation or override of internal control, the risk of failing to find major misstatement caused by fraud is higher than that caused by error.
(2) Understand the internal control related to audit to design appropriate audit procedures.
(3) Evaluate the appropriateness of accounting policies selected by the management and the rationality of accounting estimates and related disclosures.
1、 Basic information of the company
Sdic Zhonglu Fruit Juice Co.Ltd(600962) (hereinafter referred to as “the company” or “the company”) is a joint-stock company established by the overall restructuring of the former Shandong Zhonglu fruit juice Co., Ltd. with the approval of Guo Jing Mao Qi [2001] No. 106 document of the former State Economic and Trade Commission. The company was jointly initiated and established by the State Development and Investment Corporation (now renamed as the State Development and Investment Group Co., Ltd.) and Rushan economic development and Investment Corporation. It was registered with the State Administration for Industry and Commerce on March 15, 2001, with a registered capital of 100 million yuan. On June 2, 2004, with the approval of zjfz [2004] No. 72 document of China Securities Regulatory Commission, the company issued 65 million RMB common shares (A shares) by means of online pricing issuance (placing to secondary market investors according to market value) on June 7, 2004, and was listed and traded on Shanghai Stock Exchange on June 22, 2004, with the stock code of Sdic Zhonglu Fruit Juice Co.Ltd(600962) . After this issuance, the registered capital of the company was changed to 165 million yuan.
In March 2006, the company implemented the split share structure reform plan. The non tradable shareholders of the company paid 22.75 million shares held by them to the tradable shareholders in exchange for the listing and circulation right of non tradable shares. Holders of tradable shares are paid 3.5 shares for every 10 tradable shares.
In July 2008, with the approval of the reply on the approval of Sdic Zhonglu Fruit Juice Co.Ltd(600962) non-public development of shares (zjxk [2008] No. 783) issued by the China Securities Regulatory Commission, the company was approved to issue 36.7 million RMB ordinary shares to the controlling shareholder, China Development and Investment Corporation (now renamed as China development and Investment Group Co., Ltd.), with an issue price of RMB 10.98 per share
