Securities code: Shenzhen Cotran New Material Co.Ltd(300731) securities abbreviation: Shenzhen Cotran New Material Co.Ltd(300731) Announcement No.: 2022017
Shenzhen Cotran New Material Co.Ltd(300731)
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
Contains, misleading statements or material omissions.
1、 Overview of the provision for asset impairment this time
(I) reasons for withdrawing asset impairment provision this time
Shenzhen Cotran New Material Co.Ltd(300731) (hereinafter referred to as "the company") 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.
(II) asset scope and total amount of the current provision for asset impairment
After the company and its subsidiaries conducted a comprehensive inventory and asset impairment test of assets with possible signs of impairment at the end of 2021 (including accounts receivable, inventory, fixed assets, long-term equity investment and goodwill), the provision for impairment of various assets in 2021 totaled about 192116 million yuan, as shown in the following table:
Unit: 10000 yuan
The year beginning balance of the year ending balance of the year is increased
Reversal or write off of other increases in accrued amount
1、 Bad debt provision 112967 454.70 756.62 83.85 743.89
2、 Inventory falling price reserves 130.36120121 95.14 435.61 800.82
3、 Provision for impairment of fixed assets 117.06 78.71 38.35
4、 Provision for impairment of long-term equity investment 265.25
5、 Provision for impairment of intangible assets
6、 Provision for impairment of goodwill 142.44 142.44
Total 151953192116 851.76 598.17199076
Note: the "other increase" in the column of "increase in this year" in the table refers to the decrease in assets accrued by the company's newly acquired enterprises on the merger date this year
Value loss; "Accrued amount" refers to the asset impairment loss accrued by enterprises within the consolidation scope of the company this year.
2、 Impact of the current provision for asset impairment on the company
The provision for asset impairment is 192116 million yuan, and the reversal or write off of the provision for impairment is 8.5176 million yuan, which will reduce the net profit of 2021 by about 8.6359 million yuan and the net profit of the parent company by about 1.45 million yuan.
3、 Provision for impairment of assets
The provision for asset impairment withdrawn this time includes inventory falling price provision and bad debt provision.
1. In 2021, the company accrued inventory falling price reserves of about 120121 million yuan and written off or reversed inventory falling price reserves of 951400 yuan. Details of provision are as follows:
Opening balance current period increase current period decrease closing balance closing balance closing realizable accrued inventory item amount withdrawing its reversal or other amount closing original value net value falling price reserve other write off
Raw materials - 9.34 --- 9.34313266312331 9.34
Stock 64.40 987.70 - 51.25 243.68 757.17351272275555 757.17
Issued goods 65.96 204.17 - 43.88 191.93 34.32240609237177 34.32
Total 130.36120121 - 95.14 435.61 800.83905146825063 800.83
The recognition standard and withdrawal method of the company's inventory falling price reserves are as follows:
After a comprehensive inventory of inventories at the end of each period, the company shall withdraw or adjust the inventory falling price reserves according to the lower of the cost and net realizable value of inventories. 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.
2. In 2021, the company accrued bad debt reserves of about 4.547 million yuan and written off or reversed bad debt reserves of 951400 yuan. The withdrawing method of the company's bad debt reserves is:
The company's receivables include accounts receivable and other receivables. On the balance sheet date, the company conducts impairment test on the receivables with significant single amount. If there is objective evidence indicating that they have been impaired, the impairment loss shall be recognized and the bad debt provision shall be withdrawn according to the difference between the present value of future cash flow and its book value. For accounts receivable that have not been impaired through independent test, the bad debt provision shall be withdrawn according to the aging analysis method with the aging as the credit risk feature; For the accounts receivable with insignificant single amount and not impaired after test, the aging analysis method is adopted to recognize the impairment loss and withdraw the bad debt provision according to the aging of the accounts receivable and the specified withdrawal proportion; The receivables with insignificant single amount but high credit risk shall be subject to impairment test separately, and the impairment loss shall be recognized and the bad debt provision shall be withdrawn according to the difference between the present value of future cash flow and its book value. For the receivables without impairment after separate test, the aging analysis method shall be used to recognize the impairment loss according to the aging of receivables and the specified withdrawal proportion.
3. In 2021, the company made provision for impairment of long-term equity investment of about 2.6525 million yuan.
The withdrawing method of the company's long-term equity investment impairment provision is as follows:
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.
4、 Explanation of the board of directors on whether the provision for asset impairment is in line with the accounting standards for business enterprises
The provision for asset impairment of the company this time complies with the provisions of the accounting standards for business enterprises and relevant accounting policies of the company, is fully based, reflects the principle of accounting prudence, and is in line with the actual situation of the company. After the provision for asset impairment is withdrawn this time, it can more fairly reflect the company's assets and operating conditions in 2021, make the company's accounting information more reasonable, and there is no situation that damages the interests of the company and shareholders.
5、 Opinion of the board of Auditors
The Audit Committee believes that the company's provision for asset impairment this time is based on the principle of prudence and has sufficient basis. After the provision for asset impairment is made, it is conducive to more objectively, fairly and truly reflect the company's asset status, which is in line with the actual situation of the company and does not damage the interests of the company and all shareholders, especially small and medium-sized shareholders. The audit committee agrees with the company's provision for asset impairment this time.
6、 Explanation of the board of supervisors on whether the provision for asset impairment is in line with the accounting standards for business enterprises
The board of supervisors believes that the provision for asset impairment of the company this time complies with the relevant provisions of the accounting standards for business enterprises and the actual situation of the company. After this provision, it can more objectively, fairly and truly reflect the asset status of the company, and there is no damage to the interests of the company and all shareholders, especially small and medium-sized shareholders. It agrees with the provision for asset impairment of the company this time.
7、 Hint
The provision for asset impairment this time is the result of communication with accountants and audited by accounting firms.
It is hereby announced.
Shenzhen Cotran New Material Co.Ltd(300731)
Board of directors
April 9, 2002
