Securities code: Sunwoda Electronic Co.Ltd(300207) securities abbreviation: Sunwoda Electronic Co.Ltd(300207) Announcement No.: Xin 2022072
Sunwoda Electronic Co.Ltd(300207)
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
False records, misleading statements or material omissions.
Sunwoda Electronic Co.Ltd(300207) (hereinafter referred to as "the company") held the 3rd meeting on April 11, 2022
The 30th meeting of the 5th board of directors and the 30th meeting of the 5th board of supervisors deliberated and adopted the
The proposal on annual provision for asset impairment is within the deliberation authority of the board of directors
It is not necessary to submit it to the general meeting of shareholders for deliberation. The relevant information is hereby announced as follows:
1、 Overview of the provision for asset impairment this time
According to the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, the company's accounts receivable at the end of 2021
Accounts, other receivables, inventories and other assets have been comprehensively checked, and the possibility of recovery of receivables and
The net realizable value of such inventories has been fully evaluated and analyzed. In order to truly reflect the financial situation of the company
In accordance with the principle of prudence, the company needs to withdraw the impairment of the above relevant assets that may have asset impairment losses
prepare The provision for asset impairment accrued by the company in 2021 mainly includes accounts receivable, other receivables and inventories,
The total provision for impairment of assets is 18070941332 yuan. The details of impairment provision are shown in the table below
Show:
Unit: Yuan
The opening balance of the project is withdrawn in the current period and written off or written off in the current period. The ending balance is reversed or written off in the current period
Bad debt provision for accounts receivable 25410783323641374303 Cosco Shipping Specialized Carriers Co.Ltd(600428) 84325451728783
Bad debt provision for other receivables 4158237083972895113 910.005131041196
Provision for impairment of long-term equity investment 2801266898
Provision for impairment of fixed assets 118467197
Inventory falling price reserves 25679745008164566719161865683619223479580732
Total 5816849950918070941332 Kweichow Moutai Co.Ltd(600519) 8431877530338956863617609
2、 The recognition standard and withdrawal method of the provision for asset impairment this time
(I) impairment of financial assets
1. Impairment of receivables
(1) Accounts receivable
For the accounts receivable formed by transactions regulated in the accounting standards for Business Enterprises No. 14 - income standards and without significant financing components, the company always measures its loss reserves according to the amount equivalent to the expected credit loss in the whole duration.
① Judgment on whether the credit risk has increased significantly since initial recognition. The company determines whether the credit risk of the financial instrument has increased significantly by comparing the default probability of the financial instrument within the expected duration determined at the initial recognition with the default probability of the financial instrument within the expected duration determined at the balance sheet date. However, if the company 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 company can obtain reasonable and reliable information without unnecessary additional cost or effort 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 company considers reasonable and reliable information, including forward-looking information, that can be obtained without unnecessary additional costs or efforts.
② Portfolio based assessment. For accounts receivable, the company cannot obtain sufficient evidence about the significant increase of 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 accounts receivable according to the type of financial instruments as the common risk characteristics, and considers whether the credit risk increases significantly on the basis of combination. According to the common risk characteristics of the types of financial instruments, the accounts receivable are grouped, and whether the credit risk has increased significantly is considered on the basis of combination. ③ 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 according to the contract and all cash flows expected to be received by the company discounted at the original effective interest rate, that is, the present value of all cash shortages.
The company calculates the expected credit loss of accounts receivable on the balance sheet date. If the expected credit loss is greater than the book amount of the current impairment provision of accounts receivable, the company 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 company recognizes the difference as impairment gains and makes opposite accounting records.
If the company has actually incurred credit losses and determines that the relevant accounts receivable cannot be recovered and is approved to be written off, it shall 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.
④ The specific method of withdrawing the company's credit impairment loss is as follows:
a. If there is objective evidence indicating that a certain account receivable has suffered credit impairment, the company shall withdraw bad debt provision for the account receivable and recognize the expected credit loss.
b. When the information of expected credit loss cannot be evaluated by a single financial asset at a reasonable cost, the company divides the accounts receivable portfolio according to the credit risk characteristics, and calculates the expected credit loss on the basis of the portfolio.
Aging accrual method
The aging portfolio accrues the expected credit loss based on the aging
No bad debt provision will be made for the combination of related parties within the consolidation scope
Accounts receivable other than the combination of related parties within the consolidation scope are divided into aging combination.
According to the actual credit loss in previous years, the company believes that there is a correlation between the probability of default and the aging, which is still a sign of whether the credit risk of the company's accounts receivable has increased significantly. Therefore, the credit risk loss is based on the aging and considering the forward-looking information, and the expected credit loss is measured according to the following accounting estimates:
Aging default loss rate (%)
Within half a year-
Half a year to one year (including one year) 5.00
1 to 2 years (including 2 years) 10.00
2 to 3 years (including 3 years) 30.00
More than 3 years 100.00
(2) Other receivables
The company measures the provision for loss of other receivables according to the following circumstances: ① for financial assets whose credit risk has not increased significantly since initial recognition, the company measures the provision for loss according to the amount of expected credit loss in the next 12 months; ② For financial assets whose credit risk has increased significantly since initial recognition, the company shall measure the loss reserve according to the amount equivalent to the expected credit loss of the financial instrument in the whole duration; ③ For the purchase or source of financial assets with credit impairment, the company shall measure the loss reserves 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 nature of customers or aging as common risk characteristics, and considers whether the credit risk increases significantly on the basis of combination.
The specific method for withdrawing impairment loss of other receivables shall refer to the accounting estimation of expected credit loss of accounts receivable.
(II) the basis for determining the net realizable value of inventories and the withdrawal method of inventory falling price reserves
On the balance sheet date, inventories are measured at the lower of cost and net realizable value. When the net realizable value is lower than the cost, the inventory falling price reserves shall be withdrawn. Net realizable value refers to the amount of the estimated selling price of inventory minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes in daily activities. When determining the net realizable value of inventories, it shall be based on the conclusive evidence obtained, and consider the purpose of holding inventories and the impact of events after the balance sheet date.
1. Determination basis of net realizable value of different types 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; After deducting the estimated net selling price of finished products and related taxes and fees incurred in the normal process of production from the estimated selling price of finished products and materials to be realized in the normal process of production; 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.
2. Withdrawal method of inventory falling price reserves
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.
Unless there is clear evidence that the market price on the balance sheet date is abnormal, the net realizable value of inventory items is determined based on the market price on the balance sheet date.
The net realizable value of inventory items at the end of the current period is determined based on the market price on the balance sheet date
3、 The impact of the current provision for asset impairment on the company
The total amount of the company's provision for asset impairment this time is 18070941332 yuan, which will reduce the total consolidated profit of the company in 2021 by 18070941332 yuan. The provision for asset impairment this time has been audited and confirmed by ShineWing Certified Public Accountants (special general partnership).
4、 Opinions of the board of directors
In accordance with the accounting standards for business enterprises, Shenzhen Stock Exchange self regulatory guidelines for listed companies No. 2 - standardized operation of GEM listed companies, Shenzhen Stock Exchange self regulatory guidelines for GEM listed companies No. 1 - business handling and other relevant provisions, in order to truly reflect the company's financial situation and asset value in 2021, the company has accrued impairment reserves for relevant assets. The board of directors considered that the provision for asset impairment in 2021 met the requirements of accounting standards for business enterprises and other relevant laws and regulations, and agreed to the above matters.
5、 Opinions of independent directors
After deliberation, the independent directors agreed that the company's provision for asset impairment this time complies with the principle of prudence, the standard and basis of provision are reasonable and sufficient, comply with the provisions of relevant accounting standards and accounting systems, and the internal decision-making procedures are legal and compliant; After the provision for asset impairment is withdrawn this time, the company's financial information can more objectively and fairly reflect the company's asset status, which is helpful to provide investors with more authentic, reliable and accurate accounting information; The provision for asset impairment this time does not harm the interests of the company and all shareholders, especially minority shareholders
