Securities code: Honz Pharmaceutical Co.Ltd(300086) securities abbreviation: Honz Pharmaceutical Co.Ltd(300086) Announcement No.: 2022027 Honz Pharmaceutical Co.Ltd(300086)
Announcement on the provision for asset impairment in 2021
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of the provision for asset impairment this time
(I) reasons for withdrawing asset impairment provision this time
In order to truly reflect the company's financial position, asset value and operating results as of December 31, 2021, based on the principle of prudence and in accordance with the accounting standards for business enterprises and relevant provisions of the company's accounting policies, the company and its subsidiaries conducted a comprehensive inventory of various receivables, contract assets, inventories, fixed assets, long-term equity investment, construction in progress, intangible assets, goodwill and other assets at the end of 2021, The possibility of impairment of various assets has been fully evaluated and analyzed. After analysis, the impairment provision is made for the assets that may be impaired in the above categories of assets of the company.
(II) asset scope and total amount of the current provision for asset impairment
In 2021, the company made provision for impairment of assets that may be impaired, totaling 3484386494 yuan. The details are as follows:
Unit: Yuan
Accrued items accrued asset impairment loss in the reporting period
Accounts receivable 1351684286 credit impairment loss
Other receivables 472084808
Inventory falling price loss 395021193
Impairment loss of long-term equity investment 890944570 asset impairment loss
Impairment loss of fixed assets 34631637
Goodwill impairment loss 340020000
Total 3484386494
(III) recognition and withdrawal method of this provision for asset impairment
1. Credit impairment loss
On the basis of expected credit loss, the financial assets to be recognized as impairment loss are financial assets measured at amortized cost, debt instrument investment and lease receivables measured at fair value and whose changes are included in other comprehensive income, mainly including notes receivable, accounts receivable, accounts receivable financing, other receivables, creditor's rights investment, other creditor's rights investment, long-term receivables, etc, The provision for impairment shall be made according to the applicable measurement method of expected credit loss (general method or simplified method) and the credit impairment loss shall be recognized.
Credit loss refers to the difference between all contract cash flows receivable under the contract and all cash flows expected to be received by the company discounted at the original effective interest rate, that is, the present value of all cash shortages. Among them, for the financial assets purchased or generated with credit impairment, the company discounts them according to the actual interest rate adjusted by the credit of the financial assets.
The general method of measuring expected credit loss refers to that the company assesses whether the credit risk of financial assets (including contract assets and other applicable items, the same below) has increased significantly since initial recognition on each balance sheet date. If the credit risk has increased significantly since initial recognition, the company measures the loss reserve according to the amount equivalent to the expected credit loss in the whole duration; If the credit risk does not increase significantly after initial recognition, the company measures the loss reserve according to the amount equivalent to the expected credit loss in the next 12 months. When evaluating the expected credit loss, the company considers all reasonable and based information, including forward-looking information.
For financial instruments with low credit risk on the balance sheet date, assuming that their credit risk has not increased significantly since initial recognition, the company chooses to measure the loss provision according to the expected credit loss in the next 12 months. (1) Criteria for judging whether credit risk has increased significantly since initial recognition
If the probability of default of a financial asset within the expected duration determined on the balance sheet date is significantly higher than the probability of default within the expected duration determined at initial recognition, it indicates that the credit risk of the financial asset has increased significantly. Except for special circumstances, the company uses the change of default risk in the next 12 months as a reasonable estimate of the change of default risk in the whole duration to determine whether the credit risk has increased significantly since initial recognition.
(2) Portfolio based approach to assessing expected credit risk
The company evaluates the credit risk of financial assets with significantly different credit risks, such as the deposit paid by the company; Agency deposit; Receivables from related parties within the consolidation scope; Receivables in dispute with the other party or involving litigation and arbitration; Receivables that have obvious signs that the debtor is likely to be unable to perform its repayment obligations. In addition to the financial assets that individually assess the credit risk, the company divides the financial assets into different groups based on the common risk characteristics, and evaluates the credit risk on the basis of combination.
(3) Accounting treatment of impairment of financial assets
At the end of the period, the company calculates the expected credit loss of various financial assets. If the expected credit loss is greater than the carrying amount of its current impairment provision, the difference is recognized as impairment loss; If it is less than the carrying amount of the current impairment provision, the difference is recognized as impairment gain.
(4) Determination method of credit loss of various financial assets
① Accounts receivable and contract assets
For accounts receivable and contract assets without major financing components, the company measures the loss reserves according to the amount equivalent to the expected credit loss in the whole duration.
For accounts receivable, contract assets and lease receivables with significant financing components, the company chooses to always measure the loss provision according to the amount equivalent to the expected credit loss during the duration.
In addition to the accounts receivable that individually assess credit risk, they are divided into different combinations based on their credit risk characteristics:
Basis for determining project portfolio
The combination of related party transactions within the consolidation scope has similar credit risk characteristics due to the company's control
Aging portfolio this portfolio takes the aging of accounts receivable as the credit risk feature.
② Other receivables
The company adopts the amount equivalent to the expected credit loss in the next 12 months or the whole duration to measure the impairment loss according to whether the credit risk of other receivables has increased significantly since the initial recognition. In addition to other receivables that individually assess credit risk, they are divided into different combinations based on their credit risk characteristics:
Basis for determining project portfolio
Combination 1: this combination refers to various deposits, advances, reserves and other receivables that should be collected in daily and regular activities
Portfolio 2 this portfolio is all kinds of deposits collected
Combination 3 this combination is current accounts other than the above accounts
2. Inventory falling price reserves
(1) Withdrawal method of inventory falling price reserves
At the end of the period, the inventory shall be comprehensively checked and measured according to the lower of cost and net realizable value. When the net realizable value is lower than the cost, the inventory falling price reserve shall be withdrawn and included in the current profit and loss.
① Determination method of net realizable value:
The net realizable value of inventories shall be determined based on the conclusive evidence obtained, and the purpose of holding inventories shall be considered
Factors such as the impact of events after the balance sheet date.
If the net realizable value of finished products produced by materials held for production is higher than the cost, such materials
Still measured at cost; If the decrease of material price indicates that the net realizable value of finished products is lower than the cost, the material
Measured at net realizable value.
The net realizable value of inventories held for the execution of sales contracts or labor contracts is based on the contract price
calculation.
If the quantity of inventory held is more than the quantity ordered in the sales contract, the net realizable value of the excess inventory shall be calculated by one
It is calculated on the basis of general sales price.
The net realizable value of finished products within 6 months near the validity period is zero, and the inventory falling price reserves are fully accrued.
② Inventory falling price reserves are usually withdrawn according to a single inventory item.
For inventories with large quantity and low unit price, the inventory falling price reserves shall be withdrawn according to the inventory category.
Related to, having the same or similar end use or purpose as the product series produced and sold in the same region,
For inventories that are difficult to be measured separately from other items, the inventory falling price reserves shall be accrued in a consolidated manner.
(2) . after the provision for inventory falling price is made, if the factors affecting the previous write down of inventory value have disappeared,
If the net realizable value of the inventory is higher than its book value, it shall be deducted from the amount of inventory falling price reserves that have been withdrawn
The amount transferred back shall be included in the current profit and loss.
3. Provision for impairment of long-term equity investment
(1) I. withdrawal method of impairment provision for long-term equity investment
The company judges whether there is any sign of impairment on the balance sheet date. If there are signs of impairment, it is estimated that it can
Recover the amount and conduct impairment test.
If the impairment test results show that the recoverable amount of the asset is lower than its book value, the impairment standard shall be withdrawn according to the difference
Provision for impairment losses. The recoverable amount is the net amount of the fair value of the asset minus the disposal expenses and the asset advance
The higher of the present value of future cash flow.
(2) I. provision for impairment of long-term equity investment
Investment in joint ventures
Unit: Yuan
Increase and decrease in current period
The opening balance of the investing company (the quasi closing balance of the provision for impairment under the account equity method (the current face value of the provision for impairment in the account) the additional investment reduces the other face value of the investment provision recognized by the investment) and the end balance asset profit and loss
Beijing HENGZHUO
Technology Holdings 1405040000 -349975648909445704790978662442515049 Co., Ltd
Total 1405040000 -349975648909445704790978662442515049
4. Provision for impairment of fixed assets
(1) Withdrawal method of fixed assets impairment provision
At the end of each year, the company makes an inventory of fixed assets, and if there is any sign of impairment, it will conduct impairment test and reduce the impairment
If the test results show that the recoverable amount of the asset is lower than the book value, the impairment provision shall be withdrawn according to the difference.
(2) Provision for impairment of fixed assets
At the end of the period, the impairment test of the company's fixed assets is carried out, combined with the prediction of its net realizable value
The provision for impairment of equipment is 346337 yuan.
5. Goodwill impairment loss
At the end of the period, the impairment test of the company's goodwill is carried out, and combined with the prediction of its recoverable amount, it is made by Shenyang Kangzhi
The provision for impairment of Pharmaceutical Co., Ltd. in the current period is 340020000 yuan.
2、 The company's review procedures for the provision for asset impairment this time
The provision for asset impairment is made in accordance with the relevant provisions of the accounting standards for business enterprises and the company's accounting policies
The implementation of the provisions does not require the deliberation of the board of directors of the company.
3、 The impact of the current provision for asset impairment on the company
The provision for asset impairment will be reduced by 20% this time
