Securities code: Nanya New Material Technology Co.Ltd(688519) securities abbreviation: Nanya New Material Technology Co.Ltd(688519) Announcement No.: 2022027 Nanya New Material Technology Co.Ltd(688519)
Announcement on changes in accounting policies
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear legal responsibility for the authenticity, accuracy and completeness of its contents. Important content tips:
This accounting policy change is made in accordance with the implementation question and answer issued by the Ministry of Finance in November 2021, and appropriate changes and adjustments are made to the accounting and presentation of relevant accounting subjects.
This accounting policy change will not have a significant impact on the company’s current and previous financial reports. 1、 Overview of changes in accounting policies
1. Reason for change
In November 2021, the Ministry of finance of the people’s Republic of China (hereinafter referred to as the “Ministry of finance”) issued the question and answer on the implementation of accounting standards for business enterprises (hereinafter referred to as the “implementation question and answer”), which reclassified all the transportation costs incurred before the control of goods was transferred to customers and in order to perform the sales contract from “sales expenses” to “operating costs”.
2. Change date
The company will prepare the financial statements (including the parent company’s statements and consolidated statements) for the year 2021 and beyond in accordance with the requirements for question and answer on the implementation of accounting standards for business enterprises issued by the accounting department of the Ministry of Finance in November 2021. 3. Accounting policies adopted by the company before this change
Before the change of accounting policy, the company implemented the accounting standards for business enterprises – basic standards, various specific accounting standards, application guide of accounting standards for business enterprises, interpretation of accounting standards for business enterprises and other relevant provisions issued by the Ministry of finance.
4. Accounting policies adopted by the company after change
After this accounting policy change, the company will implement the above implementation question and answer issued by the Ministry of Finance in November 2021. In addition to the above changes in accounting policies, the remaining unchanged parts are still prepared in accordance with the accounting standards for business enterprises – Basic Standards issued by the Ministry of Finance and various specific accounting standards issued and revised thereafter, the application guide of accounting standards for business enterprises, the interpretation of accounting standards for business enterprises and other relevant provisions.
5. Review procedure of this change
The company held the 13th meeting of the second board of directors and the 13th meeting of the second board of supervisors on April 14, 2022, deliberated and adopted the proposal on changes in accounting policies, and the independent directors expressed their agreed independent opinions. This proposal does not need to be submitted to the general meeting of shareholders of the company for deliberation.
2、 Details and impact of this accounting policy change
Since this presentation adjustment is a reclassification adjustment between items in the income statement and cash flow statement, it has no impact on the company’s operating results, assets, liabilities, equity and other main indicators.
3、 Opinions of independent directors and board of supervisors
(I) opinions of independent directors
Independent opinion: this accounting policy change is a reasonable change according to the requirements of relevant documents of the Ministry of finance, and there is no damage to the legitimate rights and interests of the company and all shareholders, especially the interests of minority shareholders. This accounting policy change can more objectively and fairly reflect the company’s financial situation and operating results. The decision-making procedures of the board of directors on this matter comply with the provisions of relevant laws and regulations and the articles of association. Therefore, the independent directors of the company agreed to the change of accounting policies of the company.
(II) opinions of the board of supervisors
The board of supervisors believes that the change of the company’s accounting policy is a reasonable change in accordance with the requirements of relevant documents of the Ministry of finance, in line with the accounting standards for business enterprises and relevant regulations and the actual situation of the company. The revised accounting policy can more objectively and fairly reflect the company’s financial situation and operating results, and there is no damage to the interests of the company and the legitimate rights and interests of shareholders. The decision-making procedure of this accounting policy change complies with the provisions of relevant laws, regulations and the articles of association, and there is no situation that damages the interests of the company and minority shareholders. Therefore, the board of supervisors of the company agreed to the change of accounting policies of the company.
It is hereby announced.
Nanya New Material Technology Co.Ltd(688519) board of directors April 15, 2022
