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 13-114
audit report
Xyzh / 2022bjaa110116 Joyvio Food Co.Ltd(300268) all shareholders:
1、 Audit opinion
We have audited the financial statements of Joyvio Food Co.Ltd(300268) (hereinafter referred to as Joyvio Food Co.Ltd(300268) ), including the consolidated and parent company's balance sheet as of December 31, 2021, the consolidated and parent company's income statement, consolidated and parent company's cash flow statement, consolidated and parent company's statement of changes in shareholders' equity and notes to relevant financial statements in 2021.
In our opinion, the attached financial statements are prepared in accordance with the provisions of the accounting standards for business enterprises in all material aspects and fairly reflect the financial position of Joyvio Food Co.Ltd(300268) the consolidated and parent company as of December 31, 2021 and the operating results and cash flows of the consolidated and parent company in 2021.
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 Joyvio Food Co.Ltd(300268) , 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
We believe that the audit matters are the most important ones for the current period. 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. 1. Revenue recognition
Countermeasures in key audit matters
As shown in notes VI and 34 to the financial statements, jiawo food (1) evaluates and tests the effectiveness of the design and implementation of the RMB system for the operating revenue of 2021 related to revenue recognition;
459721816416 yuan. Due to the significant amount of revenue, (2) select samples to check the sales contract, identify the goods and key performance indicators, and evaluate the company's 27 accounting policies according to the contract terms related to the transfer of control in note IV to the financial statements. Whether the revenue recognition related to revenue recognition meets the requirements of the accounting standards for business enterprises; Risk. Therefore, we recognize the recognition of revenue as off. (3) combined with the audit of accounts receivable, we select the key audit items of main customers. Verify the sales amount, and spot check the relevant documents for revenue recognition to check the authenticity of the recognized revenue;
(4) Obtain the sales revenue details and list of main customers of overseas companies, conduct background investigation, and conduct video interviews with main export sales customers to verify the authenticity of customers and the authenticity of transactions between the two sides;
(5) For overseas income, check the sales records with export sales documents such as export customs declaration, freight bill of lading and sales invoice;
(6) Select samples for the revenue recognized before and after the balance sheet date, and check the delivery order, customer receipt and other supporting evidence to evaluate whether the revenue is recorded in the appropriate accounting period;
(7) Check the sales receipts within the reporting period and after the reporting period to confirm the authenticity of sales revenue.
2. Impairment test of intangible assets and goodwill with uncertain service life such as aquaculture franchise rights
Countermeasures in key audit matters
As stated in note IV to the financial statements, "important accounting policies (1) obtaining australis goodwill, inaccurate service life and accounting estimation", 18 and notes VI, 12 and 13, the evaluation report of intangible assets shall evaluate the independence, objectivity and land use right of the external evaluation institution hired by the management of aquaculture franchise right, trademark right and australis as intangible experience and qualification with uncertain service life;
The service life of the assets is uncertain as of December 31, 2021. (2) whether the ending balance of the intangible assets determined by the nature of the appraiser's work in the appraisal entrustment contract is quality, appraisal scope, appraisal objective, appraisal base date, 351668140193 yuan (55157573316 US dollars) and whether the agreement on the appraisal object is appropriate;
The balance of australis's goodwill is (3) concerned about australis's goodwill and inaccurate service life of 127166324026 yuan (the method and assumption used in Meiding's intangible assets appraisal of 19945468580 yuan).
Whether it is appropriate, including whether these assumptions and methods are consistent with the entrustment of Joyvio Food Co.Ltd(300268) at the end of the year to determine the impairment test of intangible assets based on the requirements of goodwill, non target service life and applicable preparation basis of financial report. Whether australis is consistent with the assumptions adopted by the enterprise in the early stage and the subtraction of goodwill and intangible assets with uncertain service life; The evaluation value shall be determined by the management according to the external Appraisers (4) appointed by the management in combination with the actual situation and regional factors of the company, such as the evaluation report prepared by the foundation. For the risk-free interest rate and asset liability ratio in the Chilean market in the current period, when the present value of the future cash flow of the asset group portfolio is estimated and the asset group and comparable companies in the same industry are recalculated, the management needs to make major judgments, including the weighted average capital cost of the asset company, and evaluate the estimation of the future cash flow of the asset collection group portfolio and the discount rate used by the management;
After tax discount rate of cash flow discount, etc. (5) Referring to the industry practice and the management's no future cash flow forecast due to the uncertainty of goodwill and service life in previous years, review the management's impairment forecast of future sales and shape assets, the deposit unit price of discounted future cash flow and the forecast of gross profit margin, and check the inherent uncertainty in the future and the accuracy of the management's calculation of the present value of hypothetical cash flow. And there may be preference risks during estimation. Therefore, we recognize the impairment of goodwill and intangible assets with uncertain service life as key audit matters. 3. Measurement and evaluation of quantity, weight and fair value of biological assets
As shown in Notes 6 and 6 to the financial statements, Joyvio Food Co.Ltd(300268) (1) assessed the book balance of consumable biological assets related to the maintenance of biological assets information, tested the relevant internal control on December 31, 2021, and the target amount was 176161365883 yuan, with significant book value. Mercatus, which is mainly used for the management of overseas biological assets, accounted for 15.59% of the total assets in the consolidated financial statements. System, we have carried out information system audit and recalculated the statement of changes in biological assets generated by the system except for biological assets whose fair value cannot be reliably measured; In addition, for Atlantic China Welding Consumables Inc(600558) salmon in the stage of seawater fattening, (2) for salmon biological assets such as trout and silver salmon in the stage of "seedling" at the end of the period, the center of weight shall be considered, (i.e. after the average feeding weight at the end of the reporting period is less than 1.5kg, the net amount of Atlantic China Welding Consumables Inc(600558) salmon and rainbow trout with average weight less than 1kg after the fair value minus the selling expenses are measured. Australis records the breeding center with information system), accounting for the consumption of raw materials at the end of the financial statement and maintaining the relevant information of biological assets, including 32.25% of the production balance of salmon, due to the use of the quantity of bioestimador The average weight and the accuracy of stocktaking of fish stocks in each mariculture farm are low, while the total weight is invested through automatic machinery. Among them, the number of salmon at the end of the year is the number of seedlings at the beginning of the year. The content of automatic mechanical check is the number of salmon that have been put into the mariculture farm. The deduction includes the actual number, weight and the number of freshwater dead salmon and harvested salmon recorded in the system; The number and weight of fish fry sent out from the pool of biological assets at the end of the year. The weight of this part of the supervision disc is the total weight of fish stocks at the beginning of the year, plus the ending balance of net growth consumable biological assets in the current year. The total weight of fish stocks after deducting the weight of harvested salmon is 26.00%. The "fattening" stage is at the end of the period. Because of its characteristics, salmon biological assets cannot be used as a breeding center, accounting for 39.83% of the balance of consumptive biological assets at the end of the financial statement. Bioestimator sampling is used for inventory or measurement. Therefore, the inventory of biological assets at the end of the year / end of the period is carried out according to the procedures. The quantity and weight of consumptive organisms in this part are highly dependent on the records of the information system, The proportion of the ending balance of assets is 39.83%. There is some uncertainty at the end of the period. Therefore, we take the quantity and weight of biological assets in the "fishing" stage as the proportion of the balance of consumptive biological assets at the end of the financial statement
For key audit matters. 27.92%, checked the actual quantity and weighing weight of primary processing plants after the reporting period, and compared with the quantity and weight recorded by mercatus system. The proportion of supervision in this part in the ending balance of consumable biological assets is
21.33%, accounting for 87.16% of the ending balance of consumable biological assets;
(3) The growth weight of salmon is closely related to feed consumption
The growth weight of salmon converted by feeding feed per unit weight is the feed conversion rate. We evaluated the company's process of calculating and analyzing feed conversion rate, and tested the relevant controls. Through the inspection of raw materials related to procurement
