Bear Electric Appliance Co.Ltd(002959)
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
7 – consolidated cash flow statement
– 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 13-83
ShineWing certified public accountants, Chaoyang men North Street, Dongcheng District, Beijing Tel: + 86 (010) 65542288, 9 / F, block a, Fu Hua Manson,
ShineWing No.8, Chaoyangmen Beidajie,
Dongcheng District, Beijing, fax: + 86 (010) 65547190 certified public accounts 100027, P.R.China facile: + 86 (010) 65547190 audit report
XYZH/2022GZAA60277
Bear Electric Appliance Co.Ltd(002959) all shareholders:
1、 Audit opinion
We have audited the financial statements of Bear Electric Appliance Co.Ltd(002959) (hereinafter referred to as Bear Electric Appliance Co.Ltd(002959) ), including December 2021
The consolidated and parent company’s balance sheet as of December 31, 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 accounting standards for business enterprises in all material aspects and present fairly
The consolidated and parent company’s financial position of Bear Electric Appliance Co.Ltd(002959) December 31, 2021 and the consolidated and parent company’s
Operating results and cash flow.
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 Bear Electric Appliance Co.Ltd(002959) , 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
The key audit matters are the most important matters that we consider to audit the current financial statements according to our professional judgment. 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
In 2021, the main business income of Bear Electric Appliance Co.Ltd(002959) consolidated caliber was determined by us for the authenticity and integrity of the main business income
The income is 35677705 million yuan. The main audit procedures implemented for Bear Electric Appliance Co.Ltd(002959) consolidated profit include but are not limited to: important components of profit statement, and the income under each sales mode (1) understand and test the differences between Bear Electric Appliance Co.Ltd(002959) and sales, delivery and confirmation. Therefore, we determine the internal control system and financial accounting system related to the receipt and collection of main business
Design and implementation of;
The authenticity and integrity of the entry are the key audit matters. (2) Different sales models, combined with product characteristics, and according to Bear Electric Appliance Co.Ltd(002959) accounting policies, the development of the company’s main revenue industries and Bear Electric Appliance Co.Ltd(002959) actual conditions, the company implements the online sales of creative small household appliances. When different sales model review procedures are used to judge the suitability of sales revenue and gross profit changes, the revenue recognition time points are different: among them, online B2C is rational; The mode is 10 days after the goods are delivered, the consumer receives the goods or (3) performs the detail test, samples and checks the dealer’s default receipt. When the company receives the payment, it is the receipt and delivery point of the sales contract or other sales contract and inventory when the revenue is recognized; The warehousing mode of the e-commerce platform is based on the external evidence such as the reconciliation agreed in the contract and the settlement documents confirmed by the customer, the withdrawal time, the confirmation list received from the e-commerce platform is checked to be correct, and the settlement reconciliation, invoicing and receipt in the sales process are the revenue recognition time points; Online payment records of direct delivery to dealers; In the online distribution mode, the goods are delivered and signed by the online dealers. (4) the sales revenue in 2021 and the accounts receivable at the end of the period are confirmed or delivered to the logistics company designated by the customer for payment and contract liabilities, and the time point of confirmation with the customer’s sales revenue is verified; The authenticity of the income from online distribution and model sales of goods delivered by the company; Formula: 10 days after the company delivers the goods, the consumer receives the goods. (5) deliver the goods on the income recorded before and after the balance sheet date or the system receives the goods by default. When the company receives the payment, it is easy for the income. Select samples and check the delivery note and other supporting time points; The offline distribution mode takes the receipt confirmation or document signed by the customer to evaluate whether the revenue is recorded in the appropriate logistics company that will be delivered to the customer as the revenue recognition period.
Point; The export mode is that the goods have been declared for export and have been obtained. (6) in view of the particularity of online sales business, the bill of lading or waybill we ship is the time point of revenue recognition. It audit was carried out for Bear Electric Appliance Co.Ltd(002959) it information system in detail, as described in note IV and 26. Including general risk assessment of the company’s it information system and necessary penetration test and analysis of data under the company’s self operated and agent delivery mode;
(7) Obtain the sales data of Xiaoxiong brand on JD supplier collaboration platform, Taobao business consultant, vipshop magic cube compass and other third-party platforms, and analyze, test and verify the rationality and authenticity of relevant sales data in 2021;
(8) For export business, we obtained the shipping list, bill of lading, customs declaration, etc., and checked with the book data to confirm the authenticity and integrity of export income;
2. Inventory impairment
Countermeasures in key audit matters
Bear Electric Appliance Co.Ltd(002959) the main products are creative small household appliances. In 2021, the book balance of inventories such as raw materials and inventory commodities was 652083 million yuan as of December 31, 2021. The main audit procedures implemented include but are not limited to: 358366 million yuan of depreciation reserves have been accrued, and the net book value (1) assessed and tested with 6162463 million yuan of raw materials and inventory commodities. The company’s inventory is subject to key internal control related to inventory falling price reserves such as cost and realizability; Valuation is based on the principle of the lower of the net value. For the damaged inventory, (2) the inventory of Bear Electric Appliance Co.Ltd(002959) all or part of the raw materials and goods in stock is obsolete or the sales price is lower than the cost, the supervision procedure is implemented, the raw materials, inventory and other reasons are checked, and the quantity and condition of goods and other inventory are extracted, and the depreciation reserves of long-term inventory are emphasized. Check the stock age of goods in stock and bulk raw materials; The provision for falling price of goods is withdrawn according to the difference between the cost of a single inventory item and its (3) the net realizable value calculated by Bear Electric Appliance Co.Ltd(002959) inventory falling price provision is obtained; For other large quantities and single table, take part of the inventory and compare the raw and auxiliary materials with lower price recorded in the table. Whether the inventory falling price standard status and stock age are prepared according to the category and the information obtained through inventory supervision. Goods in stock, products in process and materials for sale are consistent; The net realizable value of commodity inventories directly used for sale is determined according to (4) by comparing the estimated selling price of raw materials and inventory commodities in the same state minus the estimated selling expenses and historical selling price, as well as the amount after relevant taxes and fees according to seasonal and cyclical characteristics; For inventories held for production, the change trend of future selling price of inventories is reviewed, and the net realizable value of inventories of management materials is evaluated according to the estimated selling price of the finished products produced, and checked with the estimated selling price of assets minus the actual selling price after the balance sheet date estimated to occur at the time of completion; The amount after cost, estimated selling expenses and relevant taxes (5) is determined by comparing similar raw materials and goods in stock. The historical selling expenses and related taxes, which are estimated by the management to be used by the management in determining the estimated selling price, are evaluated, and the historical selling price and the actual amount after the balance sheet date due to future market changes are reviewed. Because the project involves a large amount of money and needs the management’s attention; Make judgment and we regard it as a key audit matter. (6) Select some items of raw materials and goods in stock, and record the recoverable amount and the ending balance of falling price reserves
It has been rechecked and calculated.
4、 Other information
Bear Electric Appliance Co.Ltd(002959) Management (hereinafter referred to as management) is responsible for other information. Other information includes the information covered in the annual report of Bear Electric Appliance Co.Ltd(002959) 2021, but does not include the financial statements and our audit report.
Our audit opinion on the financial statements does not cover other information, and we will not issue any form of assurance conclusion on other information.
In combination with our audit of the financial statements, our responsibility is to read other information and consider whether other information is materially inconsistent with the financial statements or the information we have learned in the audit process, or there seems to be material misstatement.
Based on the work we have performed, if we determine that there is a material misstatement in other information, we should report that fact. In this regard, we have nothing to report.
5、 Responsibilities of management and governance for financial statements
The management is responsible for preparing the financial statements in accordance with the provisions of the accounting standards for business enterprises to achieve a fair reflection, and designing, implementing and maintaining necessary internal control so that the financial statements are free from material misstatement caused by fraud or error.
When preparing the financial statements, the management is responsible for evaluating the going concern ability of Bear Electric Appliance Co.Ltd(002959) and disclosing the matters related to going concern (if applicable), and applying the going concern assumption, unless the management plans to liquidate Bear Electric Appliance Co.Ltd(002959) , terminate the operation or has no other realistic choice.
The management is responsible for supervising the financial reporting process of Bear Electric Appliance Co.Ltd(002959) .
6、 Responsibilities of certified public accountants for the audit of financial statements
Our goal is to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement due to fraud or error, and issue an audit report containing audit opinions. Reasonable assurance is a high-level assurance, but it does not guarantee that the audit performed in accordance with the audit standards will always be found when a major misstatement exists. Misstatement may be caused by fraud or error. If it is reasonably expected that the misstatement alone or combined may affect the users of financial statements
