Securities code: Sichuan Huiyu Pharmaceutical Co.Ltd(688553) securities abbreviation: Sichuan Huiyu Pharmaceutical Co.Ltd(688553) Announcement No.: 2022023 Sichuan Huiyu Pharmaceutical Co.Ltd(688553)
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:
This accounting policy change is a corresponding change to the original accounting policy made by Sichuan Huiyu Pharmaceutical Co.Ltd(688553) (hereinafter referred to as "the company") in accordance with the Q & A on the implementation of the new income standard issued by the Ministry of finance, the guidelines for the application of regulatory rules - accounting category No. 2 issued by the CSRC and the relevant provisions of the accounting regulatory dynamics of Shanghai Stock Exchange in the first issue of 2022, which has no significant impact on the financial status, operating results and cash flow of the company. At the same time, the corresponding changes made in accordance with the revised accounting standards for Business Enterprises No. 21 - leasing and other relevant provisions of the Ministry of finance do not involve the retrospective adjustment of previous years and will not have a significant impact on the company's statements.
1、 Overview of this accounting policy change
(I) reasons for this accounting policy change
1. On November 2, 2021, the accounting department of the Ministry of Finance issued a question and answer on the implementation of the new revenue standard: according to the relevant provisions of the accounting standards for Business Enterprises No. 14 - Revenue (CAI Kuai [2017] No. 22), generally, the transportation activities for the performance of the customer's contract before the control of the enterprise's goods or services is transferred to the customer do not constitute a single performance obligation, and the relevant transportation costs should be regarded as the contract performance costs, Amortization is carried out on the same basis as the recognition of revenue from goods or services and included in the current profit and loss. The contract performance cost shall be carried forward and included in the title of "main business cost" or "other business cost" when recognizing the revenue of goods or services, and shall be listed in the item of "operating cost" in the income statement. On November 24, 2021, the guidelines for the application of regulatory rules - accounting category 2 issued by China Securities Regulatory Commission also re emphasized the accounting treatment of transportation expenses. The company decides to list the relevant transportation costs incurred for the performance of customer sales contracts in the "operating costs" item of the income statement from January 1, 2021. 2. In December 2018, the Ministry of Finance revised and issued the notice on revising and Issuing the accounting standards for Business Enterprises No. 21 - leasing (CK [2018] No. 35). The revised accounting standards for Business Enterprises No. 21 - leasing (hereinafter referred to as the "new leasing standards") requires enterprises listed at home and abroad and enterprises listed abroad and preparing financial statements using international financial reporting standards or accounting standards for business enterprises, Effective from January 1, 2019; Other enterprises that implement the accounting standards for business enterprises shall be implemented as of January 1, 2021.
2、 Main contents of this accounting policy change
(I) according to the questions and answers on the implementation of accounting standards for business enterprises, the company will reclassify all the sales expenses to operating costs for the transportation costs incurred before the control of goods is transferred to customers and for the performance of sales contracts from January 1, 2021
1. Before change: before this accounting policy change, the company and its subsidiaries listed the transportation cost in the "sales expense" item.
2. After the implementation of the "Q & a rules of the SFC", the cost incurred in the implementation of the "Q & a rules of the SFC" will be listed as the "cost incurred in the implementation of the accounting rules of the company".
(II) the company will implement the revised accounting standards for Business Enterprises No. 21 - leases (hereinafter referred to as the new lease standards) from January 1, 2021 (hereinafter referred to as the first implementation date). 1. Under the new lease standards, except for short-term leases and low value asset leases, the lessee will no longer distinguish between financial leases and operating leases, all leases will adopt the same accounting treatment, and the right to use assets and lease liabilities must be recognized;
2. For the right to use assets, if the lessee can reasonably determine that it obtains the ownership of the leased assets at the expiration of the lease term, depreciation shall be accrued within the remaining service life of the leased assets. If it is impossible to reasonably determine that the ownership of the leased asset can be obtained at the expiration of the lease term, depreciation shall be accrued within the shorter of the lease term and the remaining service life of the leased asset. At the same time, the lessee shall determine whether the right of use assets are impaired and account for the identified impairment losses; 3. For lease liabilities, the lessee shall calculate the interest expenses of the lease liabilities during each period of the lease term and record them into the current profits and losses;
4. For short-term leases and low value asset leases, the lessee may choose not to recognize the right of use assets and lease liabilities, and record them into the relevant asset costs or current profits and losses according to the straight-line method or other systematic and reasonable methods during each period of the lease term;
5. According to the convergence provisions of the old and new standards, the enterprise can choose to recognize the right to use assets and lease liabilities according to the present value of the minimum payment of future rent payable for all leased assets from January 1, 2021 (except short-term lease and low value lease with simplified treatment), recognize depreciation and unrecognized financing expenses respectively, and do not adjust the information of comparable periods.
3、 Specific situation and impact on the company
1. This accounting policy change is a change made by the company in accordance with the relevant provisions and requirements issued by the Ministry of Finance and the CSRC, which is in line with the provisions of relevant laws and regulations and the actual situation of the company. This accounting policy change adopts the future applicable method, does not involve the retroactive adjustment of the company's previous years, and will not have a significant impact on the owner's equity and net profit of the company.
2. According to the requirements of the above-mentioned new leasing standards, the company has disclosed the accounting statements in accordance with the requirements of the new leasing standards since January 1, 2021, and does not retroactively adjust the comparable data in 2020. This change of accounting policy is made by the company in accordance with the relevant provisions and requirements of the Ministry of finance, in line with the provisions of relevant laws and regulations and the actual situation of the company, and will not have a significant impact on the company's financial status, operating results and cash flow.
4、 Concluding observations of independent directors, board of supervisors and accounting firms
(I) opinions of independent directors:
The independent directors of the company reviewed the accounting policy change and expressed independent opinions: the accounting policy change is a reasonable change according to the requirements of relevant documents of the Ministry of finance, and there is no situation that damages the legitimate rights and interests of the company and all shareholders, especially the interests of minority shareholders. This accounting policy change can more objectively and fairly reflect the company's financial situation and operating results. The decision-making procedures of the board of directors on this matter comply with the provisions of relevant laws and regulations and the articles of association. Therefore, the independent directors of the company agreed to the change of accounting policies of the company.
(II) opinions of the board of supervisors:
The board of supervisors of the company believes that this change of accounting policy is a reasonable change in accordance with the requirements of relevant documents of the Ministry of finance, in line with the accounting standards for business enterprises and relevant regulations, in line with the actual situation of the company, the implementation of the new accounting policy can objectively and fairly reflect the financial status and operating results of the company, and the decision-making procedure of this change of accounting policy is in line with the provisions of relevant laws, regulations and the articles of association, There is no situation that damages the interests of the company and minority shareholders. Therefore, the board of supervisors agreed to the change of accounting policy.
5、 Online announcement attachment
(I) Sichuan Huiyu Pharmaceutical Co.Ltd(688553) independent directors' independent opinions on matters related to the 22nd Meeting of the first board of directors;
It is hereby announced.
Sichuan Huiyu Pharmaceutical Co.Ltd(688553) board of directors April 7, 2022
