Securities code: Netac Technology Co.Ltd(300042) securities abbreviation: Netac Technology Co.Ltd(300042) Announcement No.: 2022029
Netac Technology Co.Ltd(300042)
Announcement on the company’s provision for asset impairment in 2021
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.
Netac Technology Co.Ltd(300042) (hereinafter referred to as “the company”) was called on April 6, 2022
The 18th (regular) meeting of the 5th board of directors deliberated and adopted the proposal on the company’s provision for asset impairment in 2021. In accordance with the accounting standards for business enterprises and relevant accounting policies of the company, the company has accrued a total of 875172165 yuan for asset impairment in 2021. The details are as follows: 1. Overview of the provision for asset impairment this time. 1. Reasons for the provision for asset impairment this time
The provision for asset impairment is made in accordance with the accounting standards for business enterprises and the relevant provisions of the company’s accounting policies. The company and its subsidiaries conducted a comprehensive inventory of various inventories, accounts receivable, fixed assets, construction in progress, intangible assets and other assets at the end of 2021, fully evaluated and analyzed the net realizable value of various inventories, the possibility of recovery of accounts receivable, and the variability of fixed assets, construction in progress and intangible assets, and considered that some of the above assets had certain signs of impairment. Based on the principle of prudence, the company shall make provision for impairment of relevant assets that may suffer from asset impairment losses. 2. Asset scope and total amount of the current provision for asset impairment
The company and its subsidiaries have assets with possible signs of impairment at the end of 2021 (the scope includes
After a comprehensive inventory of receivables and inventories) and asset impairment test, the net provision for impairment of various assets at the end of 2021 is 8.7517 million yuan (Note: Net provision for impairment of assets = provision in the current period – reversal in the current period). The details are as follows:
Unit: Yuan
The opening balance of the project increases in the current period and decreases in the current period
(accrued) reversal of other
Accounts receivable
Bad debt reserves 17528563556782729321230871727515997 —
Other receivables
Bad debt reserves 1563610858914482624555911
Inventory falling price reserves 9559496608113676973124434961454873861 total 286516710090729525232123087312443496 0.003427895769
2、 The impact of the current provision for asset impairment on the company
The provision for asset impairment this time will reduce the total profit of the company in 2021 by 875172165 yuan. The provision for asset impairment this time truly reflects the financial situation of the enterprise, meets the requirements of accounting standards for business enterprises and relevant policies, conforms to the actual situation of the company, and does not harm the interests of the company and shareholders. 3、 The recognition standard and withdrawal method of the provision for asset impairment this time
The provision for asset impairment withdrawn this time is the provision for inventory falling price and the provision for bad debts of accounts receivable.
In 2021, the company made provision for inventory falling price of 811367697 yuan. The company’s inventory falling price reserves
The recognition standard and withdrawal method are as follows: after the company conducts a comprehensive inventory of the inventory at the end of each period, the inventory falling price reserves shall be withdrawn or adjusted according to the lower of the cost and net realizable value of the inventory. The net realizable value of finished products, goods in stock, materials for sale and other goods inventories directly for sale shall be determined by the amount of the estimated selling price of the inventory minus the estimated selling expenses and relevant taxes in the normal process of production and operation; For the inventory of materials that need to be processed, in the normal production and operation process, the net realizable value is determined by the estimated selling price of the finished products minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes; The net realizable value of inventories held for the execution of sales contracts or labor contracts is calculated based on the contract price. If the quantity of inventories held is more than the quantity ordered in the sales contract, the net realizable value of excess inventories is calculated based on the general sales price. At the end of the period, the inventory falling price reserves are accrued according to a single inventory item; However, for the inventory with large quantity and low unit price, the inventory falling price reserves shall be withdrawn according to the inventory category; If the inventories are related to the product series produced and sold in the same region, have the same or similar end use or purpose, and are difficult to be measured separately from other items, the inventory falling price reserves shall be accrued jointly. If the factors affecting the previous write down of inventory value have disappeared, the amount of write down shall be restored and reversed within the amount of inventory falling price reserve originally withdrawn, and the reversed amount shall be included in the current profit and loss.
The net amount of bad debt provision withdrawn by the company in 2021 was 63804468 yuan. Withdrawal method of bad debt reserves of the company
As: the company’s receivables include accounts receivable and other receivables. On the balance sheet date, the company estimates the expected credit loss of the receivables individually or in combination, and withdraws bad debt reserves. If there is objective evidence indicating that a certain receivable has suffered credit impairment, the company shall make provision for impairment of the asset on a single basis. When the information of expected credit loss cannot be evaluated at a reasonable cost for individual receivables, the company divides the receivables into several combinations according to the characteristics of credit risk, and calculates the expected credit loss on the basis of the combination
Loss. For the receivables classified into risk portfolio, the company refers to the experience of historical credit loss, and calculates the expected credit loss in combination with the current situation and the prediction of future economic conditions.
It is hereby announced.
Netac Technology Co.Ltd(300042)
Board of directors
April 8, 2002
