Securities code: Greatoo Intelligent Equipment Inc(002031) securities abbreviation: Greatoo Intelligent Equipment Inc(002031) Announcement No.: 2022007 Greatoo Intelligent Equipment Inc(002031)
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.
1、 Overview of the provision for asset impairment this time
(I) reasons for withdrawing provision for asset impairment
According to the accounting standards for business enterprises, the Listing Rules of Shenzhen Stock Exchange and other relevant provisions, in order to truly and accurately reflect the company's financial status, asset value and operating results, the company (including all subsidiaries within the consolidation scope, the same below) checked all types of assets as of December 31, 2021, tested the impairment of relevant assets, and accrued the corresponding asset impairment reserves in accordance with the provisions.
(II) provision for asset impairment
The provision for impairment of the company and its subsidiaries within the scope of consolidation in 2021 totaled 503769 million yuan, as follows:
Project / asset Name: accrued amount in 2021 (10000 yuan)
Credit impairment loss -163230, including: notes receivable 101.38 accounts receivable 13.85 other accounts receivable -239.57 non current assets due within one year -552.24 long-term accounts receivable -959.24 commercial factoring receivable (note) 3.52 asset impairment loss -340539, of which: inventory falling price -340539, total -503769
Note: for the subsidiaries disposed of by the company in 2021, the credit impairment loss of factoring receivables is 35200 yuan from the beginning of the year to the disposal date.
2、 Description of the current provision for asset impairment
(I) description of provision for credit impairment
The provision for impairment of receivables, factoring of receivables and other non current assets of the subsidiary is withdrawn from the beginning of the year to the end of the year, and the provision for impairment of receivables, factoring of receivables and other non current assets is recognized in the first year of the year. The above asset impairment measurement and accounting treatment methods are as follows:
On the basis of expected credit loss, the company conducts impairment treatment on financial assets measured at amortized cost and debt instrument investments measured at fair value and whose changes are included in other comprehensive income, and recognizes loss reserves. The company takes into account the past events, current situation, prediction of future economic conditions and other reasonable and reliable information, takes the risk of default as the weight, calculates the cash probability weighted amount of the difference between the cash flow receivable under the contract and the cash flow expected to be received, and recognizes the expected credit loss. The company measures the loss reserves according to the following circumstances: (1) for financial assets whose credit risk has not increased significantly since initial recognition, the company measures the loss reserves according to the amount of expected credit losses 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. The company calculates the expected credit loss on the basis of portfolio, except for the amount for which there is obvious evidence that the individual expected credit loss rate can be obtained.
1. Financial instruments for evaluating expected credit risk and measuring expected credit loss by portfolio
The basis for determining the portfolio of projects and the method of measuring expected credit loss
Other receivables - deposits, referring to the experience of historical credit loss, combined with the current situation and the prediction of the nature of deposits, reserves, advances and funds for future economic conditions, the expected credit loss is calculated by using the loss rate through the exposure to default risk and the expected credit provisional payments in the next 12 months or the whole duration.
Other receivables - consolidation scope the related parties within the consolidation scope refer to the historical credit loss experience, combined with the current situation and the forecast of the combination of receivables in the future economic situation, and the amounts divided into this combination are not subject to bad debt provision.
2. Receivables with expected credit loss measured by portfolio
The basis for determining the portfolio of projects and the method of measuring expected credit loss
With reference to the experience of historical credit loss, combined with the current situation and the prediction of the types of commercial acceptance bills receivable in the future economic situation, prepare the comparison table between the accounts receivable corresponding to commercial acceptance bills and the expected credit loss rate in the whole duration, and calculate the expected credit loss.
Referring to the experience of historical credit losses, combined with the current situation and the prediction of the types of bank acceptance bills receivable for future economic conditions, the bank acceptance bills classified into this combination have low credit risk and no provision for bad debts is made.
The aging combination of accounts receivable and credit risk refers to the experience of historical credit loss, combined with the current situation and the impact on the future economic situation
The basis for determining the portfolio of projects and the method of measuring expected credit loss
Predict the characteristic combination, prepare the comparison table between the aging of accounts receivable and the expected credit loss rate throughout the duration, and calculate the expected credit loss.
With reference to the experience of historical credit loss, combined with the current situation and the combination prediction of credit risk grade of commercial factoring receivables for future economic conditions, and with reference to the guiding principles for loan risk classification of the people's Bank of China, prepare the comparison table between the risk grade of factoring receivables of commercial risk characteristic combination industry and the expected credit loss rate for the whole duration, and calculate the expected credit loss.
Accounts receivable - consolidation scope the related parties within the consolidation scope will not withdraw the bad debt provision for the accounts classified into this combination by referring to the historical credit loss rate, combined with the current situation and the combination measurement of advance accounts receivable for future economic conditions.
(1) Comparison between aging of commercial acceptance bills receivable, accounts receivable - credit risk feature combination and expected credit loss rate in the whole duration:
Aging commercial acceptance bills receivable and expected credit loss rate of accounts receivable (%) within 1 year (including 1 year) 5.00
1-2 years 10.00
2-3 years 25.00
More than 3 years 100.00
(2) Comparison between the risk level of the commercial factoring receivable credit risk characteristic combination of the subsidiaries disposed of in the current period and the expected credit loss rate in the whole duration:
The risk level is determined according to the credit loss rate (%) of the pre rating period of the commercial factoring receivable. The extension period of the normal category is not overdue or not more than 1 month (inclusive) is 0.40
Special category overdue within 3 months (inclusive) and not extended, or extension of 1-6 months (inclusive) 5.00
Sub category overdue for 3-6 months (inclusive) and not extended by 50.00
Loss overdue or extended for more than 6 months 100.00
3. The company will separately calculate and withdraw the expected credit loss according to the difference between the present value of its future cash flow and its book value.
(II) description of provision for inventory falling price
In 2021, the company accrued 340539 million yuan of inventory falling price reserves. The withdrawal method of inventory falling price reserves is as follows:
The company's ending inventory is valued according to the principle of the lower of cost and net realizable value. For the part of the inventory whose cost is expected to be unrecoverable due to damage, all or part of obsolescence or the sales price is lower than the cost, the inventory falling price reserve is 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. 3、 The impact of the current provision for asset impairment on the company
The total provision for asset impairment of the company is 503769 million yuan, including -16.323 million yuan of credit impairment loss and -340539 million yuan of asset impairment loss. Therefore, the total profit of the company in 2021 is reduced by 503769 million yuan. The company's provision for asset impairment has been audited by an accounting firm. 4、 Explanation of the board of directors on the rationality of the provision for asset impairment this time
The board of Directors 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, reflects the principle of accounting prudence, and the basis for provision is sufficient. Therefore, the financial statements of the company in 2021 can more fairly reflect the financial situation, asset value and operating results of the company; The company's provision for asset impairment this time does not harm the interests of the company and all shareholders, especially minority shareholders.
It is hereby announced.
Greatoo Intelligent Equipment Inc(002031) board of directors April 15, 2002
