Securities code: Wanbangde Pharmaceutical Holding Group Co.Ltd(002082) securities abbreviation: Wanbangde Pharmaceutical Holding Group Co.Ltd(002082) Announcement No.: 2022016
Wanbangde Pharmaceutical Holding Group Co.Ltd(002082)
Announcement on the provision for asset impairment
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.
Wanbangde Pharmaceutical Holding Group Co.Ltd(002082) (hereinafter referred to as "the company") held the 15th meeting of the 8th board of directors and the 14th meeting of the 8th board of supervisors on April 13, 2022, deliberated and adopted the proposal on the provision for asset impairment. In 2021, the cumulative provision for asset impairment was 11473568504 yuan. According to the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange and other relevant requirements, the specific contents are hereby announced as follows: I. overview of the provision for asset impairment this time
According to the accounting standards for business enterprises, the company's accounting policies and other relevant provisions, in order to truly and accurately reflect the company's financial status, asset value and operating results as of December 31, 2021, the company has conducted a comprehensive inventory of receivables, inventories, long-term equity investment, fixed assets, construction in progress, intangible assets, goodwill and other assets; The possibility of recovery of receivables, the net realizable value of various inventories, and the variability of fixed assets, construction in progress, intangible assets and goodwill are fully evaluated and analyzed. It is considered that some of the above assets have certain signs of impairment. Based on the principle of prudence, it is proposed to withdraw corresponding impairment reserves for relevant assets within the scope of the company's consolidated statements as of December 31, 2021.
The details of the provision for impairment of various assets withdrawn this time are as follows:
Provision for the current period of the project (yuan)
1、 Credit impairment loss 5224901513
Including: accounts receivable 3726555145
Other receivables 1491899946
Long term receivables 6446422
2、 Asset impairment loss 6248666991
Including: inventory falling price loss 1537151490
Impairment loss of fixed assets 2784041188
Goodwill impairment loss 1927474313
Total 11473568504
The reporting period to be included in the provision for asset impairment this time is from January 1, 2021 to December 31, 2021.
2、 Description of the provision for asset impairment
(I) accounts receivable
The company shall separately determine the credit loss of accounts receivable with significant single amount and credit impairment after initial recognition.
When there is no sufficient evidence to evaluate the expected credit loss at a reasonable cost at the level of single instrument, the company refers to the experience of historical credit loss, combined with the current situation and the judgment of future economic conditions, divides the accounts receivable into several combinations according to the characteristics of credit risk, and calculates the expected credit loss on the basis of the combination. The basis for determining the combination is as follows:
Combination name: basis for determining combination and accrual method
For the settlement accounts of the aluminum sector of aluminum processing and non-ferrous metal trade business, the combination takes the aging of accounts receivable and the expected credit loss of the whole duration as the credit risk characteristics. Withdrawal of loss rate comparison table
Accounts receivable of medical device business and business settlement of medical device sector. This combination takes the aging of accounts receivable and expected credit loss in the whole duration as the credit risk characteristics. Withdrawal of loss rate comparison table
Accounts receivable of pharmaceutical business and business settlement accounts of pharmaceutical sector. This combination takes the aging of accounts receivable and the expected credit loss aging of the whole duration as the credit risk characteristics. Withdrawal of loss rate comparison table
(II) other receivables
The company shall separately determine the credit loss of other receivables with significant single amount and credit impairment after initial recognition.
When there is no sufficient evidence to evaluate the expected credit loss at a reasonable cost at the level of single instrument, the company refers to the experience of historical credit loss, combined with the current situation and the judgment of future economic conditions, divides other receivables into several combinations according to the characteristics of credit risk, and calculates the expected credit loss on the basis of the combination. The basis for determining the combination is as follows:
Combination name: basis for determining combination and accrual method
The aging combination takes the aging of other receivables as the credit risk feature, and is withdrawn according to the comparison table between the aging and the expected credit loss rate of the whole duration
(III) long term receivables
The company shall separately determine the credit loss of long-term receivables with significant single amount and credit impairment after initial recognition.
When there is no sufficient evidence to evaluate the expected credit loss at a reasonable cost at the level of single instrument, the company refers to the experience of historical credit loss, combined with the current situation and the judgment of future economic conditions, divides the long-term receivables into several combinations according to the characteristics of credit risk, and calculates the expected credit loss on the basis of the combination. The basis for determining the combination is as follows:
Combination name: basis for determining combination and accrual method
The aging combination takes the aging of other receivables as the credit risk feature, and is withdrawn according to the comparison table between the aging and the expected credit loss rate of the whole duration
According to the test results, the company accrued bad debt reserves of 3726555145 yuan for accounts receivable, 1491899946 yuan for other accounts receivable and 6446422 yuan for impairment of long-term accounts receivable in 2021, totaling 5224901513 yuan for bad debt reserves.
(IV) inventory
The inventory falling price reserves shall be withdrawn or adjusted according to the lower of the cost and net realizable value of the inventory. 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
The company has conducted impairment test on various inventories. According to the test, 1537151490 yuan of inventory falling price reserves are accrued in 2021.
(V) fixed assets
According to the accounting standards for Business Enterprises No. 8 - asset impairment, the asset impairment test shall estimate its recoverable amount, and then compare the estimated recoverable amount of the asset with its book value to determine whether the asset is impaired. The recoverable amount of an asset shall be estimated according to the higher one between the present value of the expected future cash flow of the asset and the net amount of its fair value minus disposal expenses.
The recoverable amount is equal to the present value of the expected future cash flow of the asset or the net amount of the fair value minus the disposal expenses, whichever is higher.
The present value of the estimated future cash flow of an asset refers to the amount discounted by selecting an appropriate discount rate according to the estimated future cash flow generated by the equipment asset during its continuous use and final disposal.
Fair value refers to the price that market participants can receive from selling an asset or pay for transferring a liability in an orderly transaction on the measurement date.
Disposal expenses refer to the legal expenses, relevant taxes and fees related to the disposal of assets and the direct expenses incurred to make the assets marketable.
The company has conducted impairment test on various fixed assets, and the loss of fixed assets is 2784041188 yuan at the end of the reporting period.
(VI) Goodwill
In order to truly reflect the asset value and financial status of the company, according to the accounting standards for business enterprises and the company's accounting policies and other relevant provisions, the company conducted an impairment test on the relevant assets or asset portfolio containing goodwill. After the test, the goodwill impairment was withdrawn by 1927474313 yuan at the end of the reporting period.
3、 Explanation of the rationality of the provision for asset impairment and its impact on the company
The provision for asset impairment this time complies with the relevant provisions of the accounting standards for business enterprises and the company's internal control system, follows the principles of prudence and rationality, conforms to the actual situation of the company, and can more truly and accurately reflect the company's financial situation, asset value and operating results.
The provision for asset impairment this time reduces the pre tax profit of the company's consolidated statements in 2021 by 11473568504 yuan. The provision for asset impairment has been audited and confirmed by the annual audit accountant.
4、 Explanation of the board of directors on the rationality of the provision for asset impairment this time
The board of directors of the company believes that according to the accounting standards for business enterprises and other relevant provisions, the provision for asset impairment follows the principles of prudence and rationality, which is in line with the actual situation of the company. After the provision for asset impairment is withdrawn this time, it can fairly reflect the company's financial situation and operating results. The board of directors agreed to withdraw the provision for asset impairment this time.
5、 Independent opinions of independent directors on the provision for asset impairment this time
The independent directors of the company believe that the company's provision for asset impairment this time meets the requirements of the accounting standards for business enterprises and the company's accounting policies. After the company's provision for asset impairment, it can more objectively and fairly reflect the company's asset status and operating results, and make the company's accounting information about asset value more authentic, reliable and reasonable. The decision-making procedures of the board of directors for considering this matter are legal and compliant, and there is no harm to the company and shareholders, especially
Based on our independent judgment, we agree to the provision for asset impairment this time.
6、 Opinions of the board of supervisors on the provision for asset impairment this time
The board of supervisors of the company 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 relevant accounting systems of the company, the actual situation of the company's assets and operation, and the review procedures are legal, compliant and based on sufficient basis. After the provision for asset impairment is withdrawn this time, it can more fairly reflect the asset status and operating results of the company. Agree to the provision for asset impairment this time.
7、 Documents for future reference
1. Resolutions of the 15th meeting of the 8th board of directors of the company;
2. Resolutions of the 14th meeting of the 8th board of supervisors of the company;
3. Independent opinions of the company's independent directors on matters related to the 15th meeting of the eighth board of directors.
It is hereby announced.
Wanbangde Pharmaceutical Holding Group Co.Ltd(002082)
Board of directors
