Securities code: Chengdu Xiling Power Science & Technology Incorporated Company(300733) securities abbreviation: Chengdu Xiling Power Science & Technology Incorporated Company(300733) Announcement No.: 2022012
Chengdu Xiling Power Science & Technology Incorporated Company(300733)
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.
Chengdu Xiling Power Science & Technology Incorporated Company(300733) held the 24th Meeting of the third board of directors and the 15th meeting of the third board of supervisors on April 11, 2022, deliberated and adopted the proposal on withdrawing the provision for asset impairment in 2021, In accordance with the provisions of self regulatory guidelines for listed companies No. 2 - standardized operation of companies listed on GEM, business handling guidelines for companies listed on GEM No. 2 - matters related to periodic report disclosure and accounting standards for business enterprises, in order to more truly and accurately reflect the assets and financial status of the company, the accounts receivable, notes receivable, other accounts receivable, inventory Fixed assets, construction in progress, goodwill and other assets are tested for impairment, and credit impairment losses and asset impairment losses are accrued according to the test results. The details are as follows:
1、 Scope and amount of provision for asset impairment this time
After the company and its subsidiaries conducted impairment tests on notes receivable, accounts receivable, other receivables, contract assets, inventories, goodwill and other assets that may be impaired, the total impairment losses accrued in 2021 were 2114869833 yuan, as follows:
Unit: Yuan
The accrued amount of the project in the current period corresponds to the amount of the project in the income statement
Bad debt provision for accounts receivable 18167728
Bad debt provision for notes receivable 135993542 credit impairment loss 188054158
Bad debt provision for other receivables 33892888
Provision for impairment of contract assets 120396764 asset impairment loss
Inventory falling price reserves 1926815675
18,064189.11
Total: 2114869833 total: 2114869833
2、 The recognition standard and withdrawal method of the provision for asset impairment this time
1. Determination method and accounting treatment method of expected credit loss of accounts receivable.
(1) For the accounts receivable formed by transactions regulated by the accounting standards for Business Enterprises No. 14 - income standards and without significant financing components, the group always measures its loss reserves according to the amount equivalent to the expected credit loss in the whole duration.
Judgment on whether the credit risk has increased significantly since initial recognition. The Group determines whether the credit risk of financial instruments has increased significantly by comparing the default probability within the expected duration determined by the financial instrument at the initial recognition with the default probability within the expected duration determined by the instrument at the balance sheet date. However, if the Group determines that the financial instrument has only low credit risk on the balance sheet date, it can be assumed that the credit risk of the financial instrument has not increased significantly since initial recognition. Generally, if it is overdue for more than 30 days, it indicates that the credit risk of financial instruments has increased significantly. Unless the group can obtain reasonable and reliable information without unnecessary additional costs or efforts to prove that the credit risk has not increased significantly since initial recognition even if it is overdue for more than 30 days. When determining whether the credit risk has increased significantly since initial recognition, the group considers reasonable and reliable information, including forward-looking information, that can be obtained without unnecessary additional costs or efforts.
Portfolio based assessment. For notes receivable and accounts receivable, the group cannot obtain sufficient evidence of significant increase in credit risk at a reasonable cost at the level of single instrument, but it is feasible to evaluate whether the credit risk increases significantly on the basis of combination. Therefore, the group will assess whether the credit risk increases significantly according to the type of financial instrument, credit risk rating, type of collateral, initial recognition date and remaining contract term, industry and geographical location of the debtor The value of collateral relative to financial assets is a common risk feature. Bills receivable and accounts receivable are grouped, and whether the credit risk increases significantly is considered on the basis of combination.
(2) Classification of accounts receivable and provision method for bad debt reserves
When the group withdraws the bad debt provision, the impairment of accounts receivable with significant single amount shall be measured separately. If it needs to be withdrawn separately, it shall be handled according to the method described in ① below. Secondly, consider whether the accounts receivable with insignificant single amount need to be withdrawn separately. If it needs to be withdrawn separately, it shall be handled according to the method described in ③ below. Accounts receivable other than the above shall be withdrawn according to the combination of credit risk characteristics, and shall be treated according to the method described in ② below.
① For accounts receivable with significant single amount and separate provision for bad debts, the judgment basis or amount standard for significant single amount considers accounts receivable with a single amount of more than 1 million yuan as major accounts receivable. For accounts receivable with significant single amount and single provision for bad debts, the provision for bad debts shall be made according to the difference between the present value of future cash flow and its book value; The provision ratio of financial lease deposit is listed as 5%
② Accounts receivable with bad debt reserves withdrawn according to the combination of credit risk characteristics
Withdrawing method of bad debt provision by portfolio
The recovery possibility of the financial lease margin portfolio is very high, and there is basically no recovery risk. For prudence, the bad debt provision is withdrawn at the proportion of 5%
The bad debt reserves are accrued by aging analysis method in aging combination
The combination of related parties within the consolidation scope has no recovery risk and no bad debt provision is made
The proportion of bad debt provision for accounts receivable using aging analysis method is as follows:
Accrual proportion of aging accounts receivable (%)
Within 1 year (including 1 year, the same below) 5
1-2 years 10
2-3 years 20
3-4 years 50
4-5 years 80
More than 5 years 100
③ Accounts receivable with insignificant single amount but with separate provision for bad debts reasons for withdrawing bad debt provision for single amount accounts receivable with insignificant single amount and withdrawing bad debt provision according to combination can not reflect its risk characteristics
The method of withdrawing bad debt reserves is to withdraw bad debt reserves according to the difference between the present value of its future cash flow and its book value
(3) Expected credit loss measurement.
Measure the expected loss of credit. Expected credit loss refers to the weighted average value of credit loss of financial instruments weighted by the risk of default. Credit loss refers to the difference between all contract cash flows receivable under the contract and all cash flows expected to be received by the group discounted at the original effective interest rate, that is, the present value of all cash shortages. The group calculates the expected credit loss of accounts receivable on the balance sheet date. If the expected credit loss is greater than the carrying amount of the current impairment provision of accounts receivable, the Group recognizes the difference as the impairment loss of accounts receivable, debits the "credit impairment loss" and credits the "bad debt provision". On the contrary, the Group recognizes the difference as impairment gains and makes opposite accounting records.
If the group has actually incurred credit losses and determines that the relevant accounts receivable cannot be recovered and is approved to be written off, it will debit the "bad debt provision" and credit the "accounts receivable" according to the approved write off amount. If the write off amount is greater than the accrued loss provision, debit the "credit impairment loss" according to the difference.
2. Determination method and accounting treatment method of expected credit loss of other receivables.
The methods for determining the expected credit loss of other receivables include the method of evaluating whether the credit risk has increased significantly since the initial recognition and the combination method of evaluating the expected credit based on the combination.
The company measures the loss reserves of other receivables according to the following circumstances: (1) the credit risk has not increased significantly since the initial recognition; (2) for the financial assets whose credit risk has increased significantly since the initial recognition, the company measures the loss reserves according to the amount equivalent to the expected credit loss of the financial instrument in the whole duration; (3) For the financial assets purchased or originated with credit impairment, the company measures the loss reserve according to the amount equivalent to the expected credit loss in the whole duration.
Portfolio based assessment. For other receivables, the company cannot obtain sufficient evidence of significant increase in credit risk at a reasonable cost at the level of single instrument, but it is feasible to evaluate whether the credit risk increases significantly on the basis of combination. Therefore, the company groups other receivables according to the common risk characteristics of credit risk rating, and considers whether the credit risk increases significantly on the basis of combination.
The accounting estimates for the combination of other receivables and the measurement of expected credit losses are the same as those of accounts receivable.
3. Determination method and accounting treatment method of inventory falling price reserves
Inventories at the end of the year shall be valued according to the principle of the lower of cost and net realizable value. For the part of inventories whose cost is expected to be unrecoverable due to damage, all or part of obsolescence or sales price lower than cost, inventory falling price reserves shall be withdrawn. The inventory falling price reserves of inventory commodities and bulk raw materials shall be withdrawn according to the difference between the cost of a single inventory item and its net realizable value; For other raw and auxiliary materials with large quantity and low unit price, the inventory falling price reserves shall be withdrawn by category.
The net realizable value of inventories of goods directly for sale, such as goods in stock, products in process and materials for sale, is determined by the amount of the estimated selling price of the inventory minus the estimated selling expenses and relevant taxes; The net realizable value of material inventories held for production is determined by the estimated selling price of finished products minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes.
4. Determination method and accounting treatment method of impairment loss of contract assets
The determination method of expected credit loss of contract assets is described with reference to the contents related to expected credit loss in "1. Determination method and accounting treatment method of expected credit loss of accounts receivable".
Accounting treatment method: the group calculates the expected credit loss of contract assets on the balance sheet date. If the expected credit loss is greater than the carrying amount of the current contract asset impairment provision, the Group recognizes the difference as impairment loss, debits "asset impairment loss" and credits "contract asset impairment provision". On the contrary, the Group recognizes the difference as impairment gains and makes opposite accounting records.
If the group has actually incurred credit losses and determines that the relevant contract assets cannot be recovered and are approved to be written off, it shall debit the "provision for impairment of contract assets" and credit the "contract assets" according to the approved write off amount. If the write off amount is greater than the accrued loss provision, debit the "asset impairment loss" according to the difference.
5. Recognition method and accounting treatment method of impairment of long-term assets
The company checks the long-term equity investment, fixed assets, construction in progress, intangible assets with limited service life and other items on each balance sheet date. When there are signs of impairment, the company conducts impairment test. For intangible assets with uncertain goodwill and service life, impairment test shall be conducted at the end of each year regardless of whether there are signs of impairment.
After the impairment test, if the book value of the asset exceeds its recoverable amount, the difference is recognized as impairment loss. Once the impairment loss of the above assets is recognized, it will not be reversed in subsequent accounting periods. The recoverable amount of an asset refers to 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.
Signs of impairment are as follows:
(1) The market price of assets has fallen sharply in the current period, and the decline is significantly higher than the expected decline due to the passage of time or normal use;
(2) The economic, technical or legal environment in which the enterprise operates and the market in which the assets are located have changed significantly in the current period or will change in the near future, which will have an adverse impact on the enterprise;
(3) The market interest rate or other market investment return rate has increased in the current period, which affects the discount rate of the enterprise in calculating the present value of the expected future cash flow of the asset, resulting in a significant reduction in the recoverable amount of the asset;
(4) There is evidence that the asset has become obsolete or its entity has been damaged;
(5) Assets have been or will be idle, terminated or planned to be disposed of in advance;
(6) The evidence in the internal report of the enterprise indicates that the economic performance of the assets has been or will be lower than expected, such as the net cash flow created by the assets or the operating profit realized
