Securities code: Beijing Originwater Technology Co.Ltd(300070) securities abbreviation: Beijing Originwater Technology Co.Ltd(300070) Announcement No.: 2022048 Beijing Originwater Technology Co.Ltd(300070)
Announcement on the 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.
Beijing Originwater Technology Co.Ltd(300070) (hereinafter referred to as "the company") in accordance with the Listing Rules of Shenzhen Stock Exchange gem, the self regulatory guide for companies listed on Shenzhen Stock Exchange gem No. 1, the accounting standards for business enterprises and the relevant provisions of the company's accounting policies, based on the principle of prudence, in order to more truly and accurately reflect the assets and financial status of the company, for various accounts receivable, inventory Contract assets, fixed assets, long-term equity investment, construction in progress, intangible assets, goodwill and other assets are tested for impairment, and impairment reserves are accrued for the assets with signs of impairment according to the impairment test results. The provision for impairment does not need to be submitted to the board of directors of the company for deliberation. The specific circumstances are as follows: 1. The asset scope and amount of the provision for impairment this time
Unit: Yuan
The opening book balance of the project increases in the current period and decreases in the current period
Bad accounts receivable 118 Astro-Century Education & Technology Co.Ltd(300654) 4486725191391588371146117384802441 account reserve
Other receivables 316618292971454272616060293605645 Ningxia Jiaze Renewables Corporation Limited(601619) 401 bad debt reserves
Contract assets minus 1962054751170557825045544634218962390913 reserve
Long term receivables - 1331259947 - 1331259947 provision for impairment
Long term equity investment 62890085 - 62890085 - provision for impairment of assets
Total 151987428581336022877502309643629183280072702
2、 Impact of the current provision for impairment on the company
The provision for asset impairment this time will reduce the total profit of the company by 33602287750 yuan in 2021. The provision for impairment this time exceeds 10% of the company's latest audited net profit, and the provision for impairment of individual assets does not exceed 30% of the company's latest audited net profit. The provision for asset impairment has been audited and confirmed by Daxin Certified Public Accountants (special general partnership).
The provision for asset impairment this time truly reflects the financial situation of the enterprise, meets the requirements of accounting standards and relevant policies, conforms to the actual situation of the company, and does not harm the interests of the company and shareholders.
3、 Determination method and accounting treatment method of asset impairment provision this time
1. Determination method of expected credit loss
On the basis of expected credit loss, the company carries out value reduction accounting treatment for financial assets measured at amortized cost (including receivables), financial assets classified as financial assets measured at fair value and whose changes are included in other comprehensive income (including financing receivables), lease receivables and contract assets, and recognizes loss reserves.
On each balance sheet date, the company assesses whether the credit risk of relevant financial instruments has increased significantly since initial recognition, and divides the process of credit impairment of financial instruments into three stages. Different accounting methods are adopted for the impairment of financial instruments in different stages: (1) in the first stage, if the credit risk of financial instruments has not increased significantly since initial recognition, The company measures the provision for loss according to the expected credit loss of the financial instrument in the next 12 months, and calculates the interest income according to its book balance (i.e. without deducting the provision for impairment) and the effective interest rate; (2) In the second stage, if the credit risk of a financial instrument has increased significantly since the initial recognition, but there is no credit impairment, the company measures the loss provision according to the expected credit loss of the whole duration of the financial instrument, and calculates the interest income according to its book balance and effective interest rate; (3) In the third stage, if credit impairment occurs after initial recognition, the company measures the loss provision according to the expected credit loss of the financial instrument throughout its lifetime, and calculates the interest income according to its amortized cost (book balance minus accrued impairment provision) and the effective interest rate.
(1) Method of measuring loss provision for financial instruments with low credit risk
For financial instruments with low credit risk on the balance sheet date, the company can directly assume that the credit risk of the instrument has not increased significantly since the initial recognition without comparing it with the credit risk at the time of initial recognition.
If the default risk of a financial instrument is low, the debtor has a strong ability to perform its contractual cash flow obligations in the short term, and even if there are adverse changes in the economic situation and business environment over a long period of time, it may not necessarily reduce the borrower's ability to perform its contractual cash flow obligations, the financial instrument is considered to have a low credit risk.
(2) Methods for measuring loss reserves of receivables, contract assets and lease receivables
① Receivables and contract assets excluding major financing components. For the receivables and contract assets without significant financing components formed by the transactions regulated by the accounting standards for Business Enterprises No. 14 - revenue, the company adopts a simplified method, that is, the loss reserves are always measured according to the expected credit loss throughout the duration.
② Receivables, contract assets and lease receivables containing major financing components. For receivables, contract assets and lease receivables regulated by the accounting standards for Business Enterprises No. 21 - leasing, the company measures the loss provision according to the general method, that is, the "Three-stage" model.
(3) Purchased or originated financial assets with credit impairment
For the purchased or originated financial assets with credit impairment, the company only recognizes the cumulative changes of expected credit loss in the whole duration after initial recognition as loss reserves on the balance sheet date, and calculates the interest income according to its amortized cost and the effective interest rate adjusted by credit.
(4) Methods for measuring loss reserves of other financial assets
For financial assets other than the above, such as creditor's rights investment, other creditor's rights investment, other receivables, long-term receivables other than lease receivables, the company measures the loss provision according to the general method, that is, the "Three-stage" model.
When measuring the credit impairment of financial instruments, the company considers the following factors when assessing whether the credit risk has increased significantly:
The company divides other receivables into several combinations according to the nature of the payment, calculates the expected credit loss on the basis of the combination, and determines the basis of the combination as follows:
Other receivables Portfolio 1: deposit and deposit
Other receivables portfolio 2: current accounts
Other receivables portfolio 3: employee petty cash
(5) Accounting treatment of expected credit loss
In order to reflect the changes of credit risk of financial instruments since initial recognition, the company remeasures the expected credit loss on each balance sheet date, and the increased or reversed amount of loss reserves shall be included in the current profit and loss as impairment loss or profit, and shall be calculated according to the type of financial instruments, Deduct the book value of the financial asset listed in the balance sheet, or include it in the estimated liabilities (loan commitments or financial guarantee contracts) or other comprehensive income (creditor's rights investment measured at fair value and its changes included in other comprehensive income).
2. Recognition of provision for impairment of inventory assets (inventory)
On the balance sheet date, inventories are measured according to the lower of cost and net realizable value, and inventory falling price reserves are accrued according to a single inventory item. However, for inventories with large quantity and low unit price, inventory falling price reserves are accrued according to inventory category.
The basis for determining the net realizable value of inventories: ① the net realizable value of finished products is the estimated selling price minus the estimated selling expenses and relevant taxes; ② Materials held for production shall be measured at cost when the net realizable value of finished products produced by them is higher than the cost; When the decrease of material price indicates that the net realizable value of finished products is lower than the cost, the net realizable value is determined by the estimated selling price minus the estimated cost to be incurred at the time of completion, the estimated selling expenses and relevant taxes. ③ The net realizable value of materials held for sale is the market price.
3. Recognition of provision for impairment of long-term assets (long-term equity investment, goodwill)
Long term equity investment, investment real estate measured by cost mode, fixed assets, construction in progress, productive biological assets measured by cost mode, oil and gas assets, intangible assets and other long-term assets with signs of impairment on the balance sheet date shall be subject to impairment test. If the impairment test results show that the recoverable amount of the asset is lower than its book value, the impairment provision shall be withdrawn according to the difference and included in the impairment loss.
The recoverable amount is the higher one between the net amount of the fair value of the asset minus the disposal expenses and the present value of the expected future cash flow of the asset. The provision for asset impairment is calculated and recognized on the basis of individual assets. If it is difficult to estimate the recoverable amount of individual assets, the recoverable amount of the asset group is determined by the asset group to which the asset belongs. Asset group is the smallest asset portfolio that can generate cash inflow independently.
Goodwill separately listed in the financial statements shall be tested for impairment at least annually, regardless of whether there are signs of impairment. During the impairment test, the book value of goodwill is allocated to the asset group or combination of asset groups expected to benefit from the synergy of business combination. If the test results show that the recoverable amount of the asset group or combination of asset groups containing the amortized goodwill is lower than its book value, the corresponding impairment loss shall be recognized. The amount of impairment loss shall first offset the book value of the goodwill allocated to the asset group or asset group combination, and then offset the book value of other assets in proportion according to the proportion of the book value of other assets other than goodwill in the asset group or asset group combination. Once the impairment loss of the above assets is recognized, it will not be reversed in the subsequent period.
It is hereby announced.
Beijing Originwater Technology Co.Ltd(300070) board of directors
April 8, 2002
