Securities code: Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) securities abbreviation: Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) Announcement No.: 2022030 convertible bond Code: 123084 convertible bond abbreviation: Gaolan convertible bond
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499)
Announcement on withdrawing credit impairment loss, asset impairment loss and write off assets from September to December 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.
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) (hereinafter referred to as "the company") in accordance with the relevant provisions of Shenzhen Stock Exchange GEM Listing Rules and accounting standards for business enterprises, the company accrued 1075546899 yuan of credit impairment loss, 1204713792 yuan of asset impairment loss and 83113029 yuan of written off assets from September to December 2021. The relevant information is hereby announced as follows:
1、 Summary of credit impairment loss, asset impairment loss and write off assets withdrawn this time
(I) overview of credit impairment loss and asset impairment loss accrued this time
1. Reasons for withdrawing credit impairment loss and asset impairment loss
In order to fairly and objectively reflect the company's financial situation, asset value and operating results, based on the principle of prudence and in accordance with the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, the company has made a comprehensive analysis of accounts receivable, contract assets, notes receivable, other receivables, inventories, fixed assets, long-term equity investment, construction in progress Intangible assets, goodwill and other assets have been comprehensively checked, and the possibility of recovery of receivables and contract assets, the net realizable value of inventory, the recoverable amount of fixed assets, long-term equity investment, construction in progress, intangible assets and goodwill have been fully evaluated and analyzed. According to the evaluation and analysis results, the company accrues the corresponding asset impairment loss for the assets with impairment, and accrues the credit impairment loss for the receivables.
2. Asset scope and total amount of credit impairment loss and asset impairment loss
The asset items for which credit impairment loss and asset impairment loss are accrued this time are mainly accounts receivable, contract assets, other receivables and inventories. The company and its subsidiaries accrued various credit impairment losses and asset impairment losses from September to December 2021, totaling 2280260691 yuan. Among them, the credit impairment loss was 1075546899 yuan and the asset impairment loss was 1204713792 yuan. The details are as follows:
Unit: Yuan
Current amount of the project
Credit impairment loss (loss expressed with "-") - 1075546899
Including: bad debt provision - notes receivable 119790041
Bad debt provision - accounts receivable - 1069900625
Bad debt provision - other receivables -125436315
Asset impairment loss (loss expressed with "-") - 1204713792
Including: inventory falling price reserves -144569110
Provision for impairment of contract assets -1060144682
Total: -2280260691
3. Recognition standard and withdrawal method of credit impairment loss and asset impairment loss withdrawn this time
(1) Recognition standard and withdrawal method of bad debt provision for accounts receivable:
① Receivables with significant single amount and separate provision for bad debts:
Judgment basis or amount standard of significant single amount: the ending amount of single receivables is more than 1 million yuan.
Withdrawing method of single significant amount and separate provision for bad debts: if there is objective evidence indicating impairment at the end of the period, the impairment loss shall be recognized and the provision for bad debts shall be withdrawn according to the difference between the present value of future cash flow and its book value. The receivables with significant single amount without impairment shall be tested separately, and then the bad debt reserves shall be withdrawn in combination with the aging as the credit risk characteristics.
② Receivables with bad debt reserves withdrawn according to the combination of credit risk characteristics:
Basis for determining combination
Accounts receivable with the same aging combination have similar credit risk characteristics
Petty cash portfolio petty cash receivables have similar credit risk characteristics
Withdrawing method of bad debt provision by portfolio
Aging combination aging analysis method
Individual identification method of reserve fund portfolio
In the portfolio, the bad debt provision is withdrawn by aging analysis method:
Accrual proportion of aging accounts receivable (%)
Within 1 year (including 1 year) 5
1-2 years 10
2-3 years 20
3-4 years 30
4-5 years 50
More than 5 years 100
In the portfolio, the bad debt provision is withdrawn by individual recognition method:
For the accounts receivable with the nature of reserve fund on the reporting date of the financial statements, the individual recognition method is adopted to recognize the impairment loss and withdraw the bad debt provision according to the difference between the present value of its future cash flow and its book value.
Bad debt reserves are generally not withdrawn for such funds.
③ Receivables with insignificant single amount but separate provision for bad debts:
Reasons for separate provision for bad debts: there is objective evidence indicating impairment of receivables at the end of the period.
Withdrawing method of bad debt provision: according to the difference between the present value of its future cash flow and its book value, the impairment test shall be conducted separately to withdraw the bad debt provision. If there is no impairment in the separate test, the bad debt provision shall be withdrawn in combination with the aging as the credit risk feature.
(2) Recognition standard and withdrawal method of impairment provision for contract assets:
According to the accounting standards for Business Enterprises No. 14 - Revenue (CK [2017] No. 22), the of the enterprise is recognized as contract assets. According to the requirements of the above standards, the enterprise reclassifies the quality margin receivable within the warranty period of accounts receivable accounting to contract assets for accounting treatment, and accrues the asset devaluation loss of contract assets in accordance with the accounting standards for Business Enterprises No. 22 - tool recognition and measurement. The specific basis of accrual refers to the accrual combination and method of credit impairment loss of accounts receivable.
(3) The basis for determining the net realizable value of different types of inventories and the withdrawal method of falling price reserves:
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.
Unless there is clear evidence that the market price on the balance sheet date is abnormal, the net realizable value of inventory items is determined based on the market price on the balance sheet date.
(4) Long term impairment assets
Long term equity investment, investment real estate measured by cost model, fixed assets, construction in progress, intangible assets with limited service life and other long-term assets with signs of impairment on the balance sheet date shall be subject to impairment test. If the impairment test results show that the recoverable amount of the asset is lower than its book value, the impairment provision shall be withdrawn according to the difference and included in the impairment loss. The recoverable amount is the higher one between the net amount of the fair value of the asset minus the disposal expenses and the present value of the expected future cash flow of the asset. The provision for asset impairment is calculated and recognized on the basis of individual assets. If it is difficult to estimate the recoverable amount of individual assets, the recoverable amount of the asset group is determined by the asset group to which the asset belongs. Asset group is the smallest asset portfolio that can generate cash inflow independently.
Goodwill, intangible assets with uncertain service life and intangible assets that have not yet reached the usable state shall be subject to impairment test at least at the end of each year.
The company conducts goodwill impairment test, and the book value of goodwill formed by business combination shall be apportioned to relevant asset groups according to reasonable methods from the purchase date; If it is difficult to allocate to the relevant asset group, it shall be allocated to the relevant asset group portfolio. When apportioning the book value of goodwill, the company shall apportion it according to the relative benefits that the relevant asset group or asset group combination can obtain from the synergy of business combination, and carry out goodwill impairment test on this basis.
When conducting the impairment test on the relevant asset group or combination of asset groups containing goodwill, if there are signs of impairment in the asset group or combination of asset groups related to goodwill, first conduct the impairment test on the asset group or combination of asset groups not containing goodwill, calculate the recoverable amount, and compare it with the relevant book value to confirm the corresponding impairment loss. Then carry out impairment test on the asset group or combination of asset groups containing goodwill, and compare the book value of these relevant asset groups or combination of asset groups (including the book value of the apportioned goodwill) with their recoverable amount. If the recoverable amount of relevant asset groups or combination of asset groups is lower than its book value, the impairment loss of goodwill shall be recognized.
Once the above asset impairment losses are recognized, they shall not be reversed in the subsequent accounting periods.
(II) overview of assets written off this time
In accordance with the accounting standards for business enterprises, the notice on the preparation of listed companies for various asset impairment and other related matters, the notice on further improving the quality of financial information disclosure of listed companies and other relevant provisions, in order to truly reflect the company's financial situation and asset value, some uncollectible accounts receivable of the company were cleared and written off. The total assets of accounts receivable written off by the company from September to December 2021 amounted to 83113029 yuan. The details are as follows:
Unit: Yuan
Asset category write off amount write off reason
Accounts receivable 83113029 the company makes every effort to recover the accounts receivable confirmed to be uncollectible
2、 Explanation of the reasonableness of the current provision for credit impairment loss and asset impairment loss
The company's provision for credit impairment loss and asset impairment loss this time complies with the accounting standards for business enterprises and relevant accounting policies of the company, reflects the principle of accounting prudence and conforms to the actual situation of the company. The accrual of credit impairment loss and asset impairment loss can more fairly reflect the company's financial status, asset value and operating results as of December 31, 2021, making the company's accounting information more reasonable.
3、 The impact of credit impairment loss and asset impairment loss accrued this time on the company
The company's credit impairment loss and asset impairment loss from September to December 2021 totaled 2280260691 yuan, which will reduce the company's total consolidated statement profit from September to December 2021 by 2280260691 yuan. The company has written off 83113029 yuan of accounts receivable and accrued 136 bad debt reserves
