Securities code: Guangzhou Tech-Long Packaging Machinery Co.Ltd(002209) securities abbreviation: Guangzhou Tech-Long Packaging Machinery Co.Ltd(002209) Announcement No.: 2022010
Guangzhou Tech-Long Packaging Machinery Co.Ltd(002209)
Announcement on reversal of provision for impairment of assets
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、 Summary of the reversal of asset impairment provision mentioned in this calculation
1. The reasons for the reversal of asset impairment provision are mentioned in this calculation
Based on the principle of prudence, the company conducted a comprehensive inventory and impairment test of various assets in order to truly and accurately reflect the company's financial position, asset value and operating results as of December 31, 2021, in accordance with the requirements of relevant provisions such as the stock listing rules of Shenzhen Stock Exchange, self regulatory guidelines for listed companies of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board and accounting standards for business enterprises, Withdraw or reverse the corresponding impairment provision for relevant assets within the scope of the company's consolidated statements as of December 31, 2021.
2. The asset scope, total amount and reporting period to be included in the reversal of asset impairment provision are mentioned in this calculation
After the company and its subsidiaries conducted a comprehensive inventory and impairment test of assets that may have signs of impairment as of December 31, 2021, the scope of withdrawing asset impairment reserves includes accounts receivable, contract assets, inventory and other receivables, withdrawing 285485 million yuan of asset impairment reserves and reversing 3.1862 million yuan of credit impairment reserves. The details are as follows:
Unit: Yuan
The amount of provision for impairment of the project (reversed to account for the proportion of the audited net profit attributable to the shareholders of the listed company in 2021 expressed with "-")
1、 Provision for asset impairment 1156965408 22.45%
Including: bad debt loss of contract assets 185536059 3.60%
Inventory falling price loss 971429349 18.85%
2、 Credit impairment loss 1379267265 26.76%
Including: bad debt loss of accounts receivable 1367211917 26.53%
Loss of other receivables 12055348 0.23%
Total 2536232673 49.22%
Note: the difference between the "amount of provision for impairment" in the above table and the "recovery or reversal" of bad debt provision in the following table is mainly due to the exchange rate translation difference of foreign currency statements, and the difference is listed under the owner's equity item and other comprehensive income in the balance sheet.
The reporting period to be included in the reversal of asset impairment provision mentioned in this calculation is from January 1, 2021 to December 31, 2021.
2、 The recognition standard and withdrawal method of reversal of asset impairment provision are mentioned this time
1. Bad debt provision for accounts receivable
On the balance sheet date, for the accounts receivable whose credit risk characteristics are obviously different and there is objective evidence that they have been impaired, the company conducts impairment test one by one according to the expected credit loss, recognizes the impairment loss and withdraws bad debt reserves according to the difference between the present value of future cash flow and its book value. In addition to the accounts receivable that individually assess credit risk, they are divided into different combinations based on their credit risk characteristics. For the accounts receivable divided into portfolio, the company refers to the historical credit loss experience, combined with the current situation and the prediction of future economic conditions, prepares the comparison table between the aging of accounts receivable and the expected credit loss rate throughout the duration, and calculates the expected credit loss. After the impairment test of customer accounts receivable according to the expected credit loss, the company needs to reverse the credit impairment provision of 318616000 yuan in 2021. The bad debt reserves withdrawn, recovered or reversed from accounts receivable are as follows:
Unit: Yuan
Current change amount
Category: withdrawal and reversal of opening balance or write off of closing balance or write off of other closing balances
Accounts receivable with bad debt provision of 491261185456264019131861 Ningbo United Group Co.Ltd(600051) 56636045 withdrawn by single item shall be subject to credit risk characteristics
Accounts receivable with combined provision for bad debts 9908713399110247548911011188888
Total 14821325253166511568031861 China Minsheng Banking Corp.Ltd(600016) 167824933
2. Provision for bad debts of contract assets
For contract assets, no matter whether they contain significant financing components or not, the company always measures its loss reserves according to the amount equivalent to the expected credit loss in the whole duration. The increase or reversal amount of the loss reserves thus formed is included in the current profits and losses as impairment losses or gains.
The company 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 difference is recognized as impairment loss; The expected credit loss is remeasured on each balance sheet date, and the reversal amount of the loss provision is recognized as impairment gain. According to the impairment test of the customer's accounts receivable according to the expected credit loss, the company needs to withdraw the contract asset impairment provision of 185536059 yuan in 2021, and the corresponding reversal of the quality assurance deposit receivable is as follows:
Unit: Yuan
Category opening balance current period change amount closing balance
Withdrawal reversal or write off of others
Quality assurance deposit receivable 443476493185536059629012552
Total 443476493185536059 --- 629012552
3. Inventory falling price reserves
The ending inventory is priced at the lower of cost and net realizable value. If the ending net realizable value of the inventory is lower than the book cost, the inventory falling price reserves are accrued according to the difference. 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.
(1) Basis for determining the net realizable value of inventories: for materials held for production, if the net realizable value of finished products produced by them is higher than the cost, the materials are still measured according to the cost; If the decline in the price of materials indicates that the net realizable value of finished products is lower than the cost, the materials shall be measured according to the net realizable value.
The net realizable value of inventories held for the execution of sales contracts or labor contracts shall be calculated on the basis of the contract price. If the quantity of inventory held by the enterprise is more than the quantity ordered in the sales contract, the net realizable value of the excess inventory is calculated on the basis of the general sales price.
(2) Withdrawal method of inventory falling price reserves: withdraw the inventory falling price reserves according to the lower of the cost and net realizable value of 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. The company calculates the inventory falling price reserve on the balance sheet date. If the net realizable value of the inventory at the end of the period is lower than the book cost, the inventory falling price reserve shall be withdrawn according to the difference. In 2021, the inventory falling price reserve shall be withdrawn by 971429349 yuan, and the inventory falling price reserve shall be reversed by 159867134 yuan. The corresponding withdrawal or reversal of inventory falling price reserves is as follows:
Unit: Yuan
Category opening balance current period change amount closing balance withdrawal reversal or write off other
Inventory falling price reserves 176487848971429349159867134988050063
Total 176487848971429349159867134 -- 988050063
4. Bad debt provision for other receivables
On the balance sheet date, for other receivables whose credit risk characteristics are obviously different and there is objective evidence that they have been impaired, the company conducts impairment test one by one according to the expected credit loss, recognizes impairment loss and withdraws bad debt provision according to the difference between the present value of future cash flow and its book value. When individual other receivables cannot evaluate the information of expected credit loss at a reasonable cost, the company divides other receivables into several combinations according to the characteristics of credit risk. For other receivables divided into portfolios, the company calculates the expected credit loss through the default risk exposure and the expected credit loss rate in the next 12 months or the whole duration. According to the impairment test of other receivables conducted by the company according to the expected credit loss, the provision for impairment of other receivables is 12008343 yuan in 2021. The provision for other accounts receivable is as follows:
Unit: Yuan
Phase I phase II phase III
Expected total of bad debt provision for the whole duration of the next 12 months
Period credit loss period credit loss (uncollected credit loss) (issued)
(credit impairment incurred)
Balance on January 1, 2021: 17159362 -- 17159362
The balance on January 1, 2021 is in the current period————————
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