Securities code: Guangzhou Tech-Long Packaging Machinery Co.Ltd(002209) securities abbreviation: Guangzhou Tech-Long Packaging Machinery Co.Ltd(002209) Announcement No.: 2022009 Guangzhou Tech-Long Packaging Machinery Co.Ltd(002209)
Announcement on changes in accounting policies
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.
Guangzhou Tech-Long Packaging Machinery Co.Ltd(002209) (hereinafter referred to as “the company”) held the 14th meeting of the 7th board of directors on April 13, 2022. The meeting deliberated and adopted the proposal on accounting policy change. The proposal on accounting policy change does not need to be submitted to the general meeting of shareholders for deliberation. The details are as follows:
1、 Changes in accounting policies
1. Reasons for this accounting policy change
(1) On January 26, 2021, the Ministry of finance of the people’s Republic of China (hereinafter referred to as the “Ministry of finance”) issued the interpretation of accounting standards for Business Enterprises No. 14 (CAI Kuai [2021] No. 1) (hereinafter referred to as the “interpretation of Standards No. 14”), which stipulates the accounting treatment of government and social capital cooperation (PPP) project contracts by social capital parties Accounting treatment for the change of the basis for determining the cash flow of relevant contracts caused by the reform of the benchmark interest rate.
(2) On December 30, 2021, the Ministry of Finance issued the interpretation of accounting standards for Business Enterprises No. 15 (CAI Kuai [2021] No. 35) (hereinafter referred to as “interpretation of Standards No. 15”), which stipulates the accounting treatment of the external sales of products or by-products produced before the fixed assets reach the expected usable state or in the process of research and development, the relevant presentation of centralized fund management, and the judgment of loss contracts.
2. Date of this accounting policy change
(1) The standard Interpretation No. 14 shall come into force as of the date of promulgation. The company will implement the standard Interpretation No. 14 from January 26, 2021. The company will adjust the new business from January 1, 2021 to January 26, 2021 in accordance with the standard Interpretation No. 14.
(2) The contents of the standard Interpretation No. 15 “accounting treatment for the external sales of products or by-products produced before the fixed assets reach the expected usable state or in the process of R & D” and “judgment on loss contracts” shall be implemented as of January 1, 2022; The content of “relevant presentation on centralized fund management” shall go into effect as of the date of promulgation. The company will implement the standard Interpretation No. 15 from December 30, 2021.
3. Accounting policies adopted before change
Before this change, the company implemented the accounting standards for business enterprises – basic standards, various specific accounting standards, application guidelines of accounting standards for business enterprises, interpretation announcement of accounting standards for business enterprises and other relevant regulations issued by the Ministry of finance. 4. Accounting policies adopted after change
After this change, the company will implement in accordance with the relevant provisions of standard Interpretation No. 14 and standard Interpretation No. 15 revised and issued by the Ministry of finance. Other unchanged parts will still be implemented in accordance with the accounting standards for business enterprises – basic standards, various specific accounting standards, application guidelines of accounting standards for business enterprises, interpretation announcement of accounting standards for business enterprises and other relevant provisions issued by the Ministry of finance.
2、 Impact of this accounting policy change on the company
The company has implemented standard Interpretation No. 14 and standard Interpretation No. 15 since the implementation date. This accounting policy change is a corresponding change made by the company in accordance with the relevant provisions of the Ministry of finance. The changed accounting policy complies with the relevant provisions of the Ministry of finance. This accounting policy change has no significant impact on the company’s financial position, operating results and cash flow. 3、 Opinions of the board of directors
The board of Directors believes that this accounting policy change is a reasonable change made by the company in accordance with the relevant provisions issued by the Ministry of finance. The changed accounting policy can more objectively and truly reflect the company’s financial situation and operating results, comply with the provisions of relevant laws and regulations, and there is no damage to the interests of the company and shareholders. Therefore, the board of directors agreed to this accounting policy change.
4、 Opinions of independent directors
The independent directors believe that the company has made corresponding changes to the company’s accounting policies in accordance with the relevant provisions and requirements of the accounting standards newly issued by the Ministry of finance. The changed accounting policies comply with the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shenzhen Stock Exchange, and there is no damage to the legitimate rights and interests of the company and all shareholders, especially the interests of minority shareholders. The procedures of this accounting policy change comply with the provisions of relevant laws, regulations and the articles of association. Therefore, we agree to the change of the company’s accounting policy.
5、 Opinions of the board of supervisors
After review, the board of supervisors believes that the change of accounting policies is a reasonable change made by the company in accordance with the provisions and requirements of the relevant notice issued by the Ministry of finance, and will not have a significant impact on the company’s financial status, operating results and cash flow. The accounting policy change of the company complies with the provisions of relevant laws, regulations and accounting standards for business enterprises, and the review procedures comply with the relevant provisions of relevant laws, regulations and the articles of association. Agree to the change of the company’s accounting policy.
6、 Documents for reference 1. Resolution of the 14th meeting of the 7th board of directors 2. Resolution of the 2nd meeting of the 6th board of supervisors 3. Independent opinions of independent directors on matters related to the 14th meeting of the 7th board of directors Guangzhou Tech-Long Packaging Machinery Co.Ltd(002209) board of directors
April 15, 2022
