Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) audit report and financial statements for the year 2021
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499)
Audit report and financial statements
(from January 1, 2021 to December 31, 2021)
Table of contents page
1、 Audit report 1-5 II. Financial statements
Consolidated balance sheet and parent company balance sheet 1-4 consolidated income statement and parent company income statement 5-6 consolidated cash flow statement and parent company cash flow statement 7-8 consolidated statement of changes in owner’s equity and parent company statement of changes in owner’s equity 9-12 notes to financial statements 1-172
audit report
Xin Hui Shi Bao Zi [2022] No. zc10178 Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) all shareholders:
1、 Audit opinion
We have audited the financial statements of Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) (hereinafter referred to as Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) ), including the consolidated and parent company’s balance sheet as of December 31, 2021, the consolidated and parent company’s income statement, consolidated and parent company’s cash flow statement, consolidated and parent company’s statement of changes in owner’s equity and notes to relevant financial statements in 2021.
In our opinion, the attached financial statements are prepared in accordance with the provisions of the accounting standards for business enterprises in all material aspects and fairly reflect the financial position of Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) the consolidated and parent company as of December 31, 2021 and the consolidated and parent company’s operating results and cash flow in 2021.
2、 Basis for forming audit opinions
We conducted our audit in accordance with the auditing standards for Chinese certified public accountants. The “responsibilities of certified public accountants for the audit of financial statements” in the audit report further expounds our responsibilities under these standards. In accordance with the code of professional ethics for Chinese certified public accountants, we are independent of Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) , and have fulfilled other responsibilities in terms of professional ethics. We believe that the audit evidence we have obtained is sufficient and appropriate, which provides a basis for our audit opinion.
3、 Key audit matters
The key audit matters are the most important matters that we consider to audit the current financial statements according to our professional judgment. The response to these matters is based on the overall audit of the financial statements and the formation of audit opinions. We will not express separate opinions on these matters.
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) April 20, 2022 audit report xksbz [2022] No. zc10178
The key audit matters identified in our audit are summarized as follows:
Key audit matters how to deal with them in the audit
(I) revenue recognition
For example, “III. important accounting policies of the company” in the financial statements, we have implemented the following procedures for revenue recognition:
1. Understand the company’s main business, main products and as described in note (27) of “accounting estimates”, and note (40) of “notes to items of consolidated financial statements” (source of the company’s customers, main process of obtaining business, I) Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) the amount of main business income is sales mode and settlement method;
1676834000 yuan. The company generally recognizes the relevant income and cost after the products are delivered to the customers. 2. Understand and test the delivery place designated by the company in terms of sales management, obtain the internal control system of qualified products issued by the customers, and understand the company’s sales and collection receipt; For the overall process of DC business, to determine whether the designed water-cooled products controlled by sales management are effectively supervised and implemented in the factory through customer participation and confirmation;
After the manufacturing and commissioning procedures, they shall be delivered to the site designated by the customer. After 3. Obtaining the sales statistics of the company during the reporting period, the on-site acceptance of the sales customer, issuing the acceptance certificate, and confirming the relevant receipt and sale details, sales contract account and important sales contracts, they shall be recorded into the account. For other products, when the products are delivered to the designated delivery place of the customer, analyze the customer demand of the company’s product sales, and confirm the income and cost related to the company’s main business, products and sales mode after obtaining the sign in form issued by the customer. Confirmation;
We regard revenue recognition as a key audit item. The reason is that 4. We confirm that the operating revenue of major customers in the reporting period is that revenue is one of the company’s key performance indicators, as well as the control, implementation of sales contracts, recognition time of accounts receivable or income received in advance, so as to achieve specific objectives or expected balance of funds;
5. Query the inherent risks through the official website information of the client company. Information such as the customer’s main products and sales scale, including the customer’s background, place of registration, shareholders and business scale, focusing on the authenticity and relevance of the company’s products and the customer’s own business needs;
6. Obtain the sales details of major customers during the reporting period, and obtain the corresponding sales contracts, collection vouchers, delivery orders, signing receipts, export goods declaration forms and acceptance documents, and verify the authenticity and accuracy of the operating income of major customers, And check with the terms of the contract to verify the consistency between the collection and the contract;
7. For important sales contracts of the company, judge whether the revenue recognition method is compliant according to the new revenue standard.
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) April 20, 2022 audit report xksbz [2022] No. zc10178
Key audit matters how to deal with them in the audit
(II) for the impairment of goodwill, please refer to “III. important accounting policies and our audit procedures” in the notes to the financial statements, including:
The accounting policies described in note (V) of “accounting estimates”. 1. Understand the relevant processes and control of goodwill impairment assessment management. On October 31, 2019, Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) from the third party, review Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) the judgment of goodwill impairment signs; Cash of 204 million yuan, obtained Dongguan Sixiang insulation materials 2. Reviewed Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) 51% equity of asset group division Co., Ltd. where goodwill is located. On the purchase date, the rationality of Dongguan silicon; Fair value of identifiable net assets of Xiangxiang insulation materials Co., Ltd. 3. The business value prepared by the third-party expert hired by the management is 158812000 yuan, Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) due to the evaluation report of this non reputation impairment test, the goodwill impairment test is reviewed, and the RMB trial evaluation report of goodwill is confirmed for the business combination under the same control, including the evaluation base date, evaluation purpose and 12 Queclink Wireless Solutions Co.Ltd(300590) 0 yuan. The appraisal object, scope, etc. evaluate the possible impairment of goodwill assessed by the management every year. The independence and objectivity of the external evaluation organization hired and the impairment evaluation results of goodwill shall be evaluated by the management according to its employment experience and qualification; Determined by the valuation report prepared by the external appraiser. Gao 4. Review the valuation model adopted by the appraiser. LAN Co., Ltd. uses the present value of estimated future cash flow to conduct impairment test on the accuracy of basic data of goodwill and the appropriateness of key assumptions. Due to the rationality of determining the estimates of relevant asset groups and key parameters; When calculating the present value of future cash flow, it is necessary to predict the relevant assets. 5. Review whether the average growth rate of the predicted future cash flow and the method of determining the relevant capital cash flow adopted in the goodwill impairment test report, the discount rate of tax law and the discount design adopted by the predicted future cash flow of the fake property group are reasonable. The selection of the above key parameters involves Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) management’s use of significant accounting estimates and judgments, and we determine the impairment of goodwill as a key audit event.
4、 Other information
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) Management (hereinafter referred to as management) is responsible for other information. Other information includes the information covered in the annual report of Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) 2021, but does not include the financial statements and our audit report.
Our audit opinion on the financial statements does not cover other information, and we will not issue any form of assurance conclusion on other information.
In combination with our audit of the financial statements, our responsibility is to read other information and consider whether other information is materially inconsistent with the financial statements or the information we have learned in the audit process, or there seems to be material misstatement.
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) April 20, 2022 audit report xksbz [2022] No. zc10178
Based on the work we have performed, if we determine that there is a material misstatement in other information, we should report that fact. In this regard, we have nothing to report.
5、 Responsibilities of management and governance for financial statements
The management is responsible for preparing the financial statements in accordance with the provisions of the accounting standards for business enterprises to achieve a fair reflection, and designing, implementing and maintaining necessary internal control so that the financial statements are free from material misstatement caused by fraud or error.
When preparing the financial statements, the management is responsible for assessing Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) ‘s ability to continue as a going concern, disclosing matters related to going concern and applying the assumption of going concern, unless liquidation is planned, operation is terminated or there is no other realistic choice.
The management is responsible for supervising the financial reporting process of Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) .
6、 Responsibilities of certified public accountants for the audit of financial statements
Our goal is to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement due to fraud or error, and issue an audit report containing audit opinions. Reasonable assurance is a high-level assurance, but it does not guarantee that the audit performed in accordance with the audit standards will always be found when a major misstatement exists. Misstatement may be caused by fraud or error. If it is reasonably expected that the misstatement alone or in summary may affect the economic decisions made by the users of the financial statements based on the financial statements, the misstatement is generally considered to be significant.
In the process of carrying out the audit work in accordance with the audit standards, we use professional judgment and maintain professional doubt. At the same time, we also carry out the following work:
(I) identify and assess the risks of material misstatement of financial statements due to fraud or error, design and implement audit procedures to deal with these risks, and obtain sufficient and appropriate audit evidence as the basis for issuing audit opinions. Since fraud may involve collusion, forgery, intentional omission, misrepresentation or override of internal control, the risk of failing to find major misstatement caused by fraud is higher than that caused by error.
(II) understand the internal control related to audit in order to design appropriate audit procedures, but the purpose is not to express opinions on the effectiveness of internal control.
Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) April 20, 2022 audit report xksbz [2022] No. zc10178
(III) evaluate the appropriateness of accounting policies selected by the management and the rationality of accounting estimates and related disclosures.
(IV) draw a conclusion on the appropriateness of the management’s use of the going concern assumption. At the same time, according to the audit evidence obtained, draw a conclusion on whether there are major uncertainties in the matters or circumstances that may lead to major doubts about Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) going concern ability. If we conclude that there is significant uncertainty, the auditing standards require us to draw the attention of statement users to the relevant disclosures in the financial statements in the audit report; If the disclosure is insufficient, we should express a non unqualified opinion. Our conclusions are based on the information available as of the date of the audit report. However, future events or circumstances may cause Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) unable to continue its business.
(V) evaluate the overall presentation (including disclosure), structure and content of the financial statements, and evaluate whether the financial statements fairly reflect relevant transactions and events.
(VI) obtain sufficient and appropriate audit evidence on the financial information of entities or business activities in Guangzhou Goaland Energy Conservation Tech Co.Ltd(300499) to express audit opinions on the consolidated financial statements. We are responsible for guiding, supervising and implementing the group audit, and take full responsibility for the audit opinions.
