Securities code: Chengdu Rml Technology Co.Ltd(301050) securities abbreviation: Chengdu Rml Technology Co.Ltd(301050) Announcement No.: 2022033 Chengdu Rml Technology Co.Ltd(301050)
Announcement on changes in accounting policies
The information disclosed by the board of directors is complete and accurate
There are no false records, misleading statements or major omissions.
Chengdu Rml Technology Co.Ltd(301050) (hereinafter referred to as “the company”) held the 23rd Meeting of the first board of directors and the 8th meeting of the first board of supervisors on April 22, 2022, deliberated and adopted the proposal on the change of accounting policies of the company, and now the specific situation is announced as follows:
1、 Overview of changes in accounting policies
(I) implement the accounting standards for Business Enterprises No. 21 – leasing (revised in 2018)
The Ministry of Finance revised the accounting standards for Business Enterprises No. 21 – leasing (hereinafter referred to as the “new leasing standards”) in 2018. The company has implemented the new leasing standards since January 1, 2021. According to the revised standards, for contracts existing before the first execution date, the company chooses not to reassess whether they are leases or include leases on the first execution date.
The company will implement the new leasing standards from January 1, 2021 and adjust the relevant contents of the company’s accounting policies.
(II) implement the interpretation of accounting standards for Business Enterprises No. 14
The Ministry of Finance issued the interpretation of accounting standards for Business Enterprises No. 14 (CAI Kuai [2021] No. 1, hereinafter referred to as “Interpretation No. 14”) on February 2, 2021, which shall come into force as of the date of promulgation. January 2021
The implementation of this provision has not had a significant impact on the financial status and operating results of the company.
(III) implement the relevant presentation of centralized fund management in the interpretation of accounting standards for Business Enterprises No. 15. 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 No. 15”) on December 30, 2021. The content of “relevant presentation of centralized fund management” shall be implemented from the date of publication, and the financial statement data of comparable periods shall be adjusted accordingly. Interpretation No. 15 clearly stipulates how the balance involved in the centralized and unified management of the funds of the parent company and member units by enterprises through internal settlement centers and financial companies should be presented and disclosed in the balance sheet.
The implementation of this provision has not had a significant impact on the financial status and operating results of the company.
2、 Details of changes in accounting policies and their impact on the company
(I) the company will implement the revised accounting standards for Business Enterprises No. 21 – leasing (hereinafter referred to as the new leasing standards) from January 1, 2021 (hereinafter referred to as the first implementation date).
1. For contracts existing before the first execution date, the company chooses not to re evaluate whether they are leases or include leases.
2. For the lease contract in which the company is the lessee, the company adjusts the amount of retained earnings at the beginning of the reporting period and other relevant items in the financial statements according to the cumulative impact of the implementation of the new lease standard and the original standard on the first implementation date, and does not adjust the information of the comparable period. The specific treatment is as follows:
For the financial lease before the first execution date, the company shall measure the right of use assets and lease liabilities respectively according to the original book value of the financial lease in assets and the financial lease payable on the first execution date.
For the operating lease before the first execution date, the company shall measure the lease liability at the present value discounted by the company’s incremental loan interest rate on the first execution date according to the remaining lease payment on the first execution date, and measure the right to use asset according to the amount equal to the lease liability and make necessary adjustments according to the prepaid rent.
On the first execution date, the company conducts impairment test on the right to use assets and carries out corresponding accounting treatment in accordance with the provisions of note III (XVIII) to the financial statements.
(1) The main impact of the implementation of the new leasing standards on the company’s financial statements on January 1, 2021 is as follows:
Project balance sheet
The adjustment of new leasing standards on December 31, 2020 will affect January 1, 2021
Right to use assets 5482450254824502
Lease liabilities 54824502
(2) The company’s unpaid minimum lease payment in major operating leases in 2020 is 57 Shanghai Pudong Development Bank Co.Ltd(600000) yuan. The present value discounted at the incremental borrowing rate on the first execution date is 54824502 yuan. There is no difference between the discounted amount and the lease liabilities related to the original operating lease included in the balance sheet on the first execution date.
The weighted average of the company’s incremental borrowing interest rate adopted for the lease liabilities included in the balance sheet on the first execution date is 4.00%.
(3) Simplified treatment of operating leases before the first execution date
① For lease contracts completed within 12 months after the first execution date, the company adopts a simplified method and does not recognize the right of use assets and lease liabilities;
② When measuring lease liabilities, the company adopts the same discount rate for lease contracts with similar characteristics;
③ The measurement of right of use assets does not include initial direct expenses;
④ The company determines the lease term according to the actual exercise of the option to renew or terminate the lease before the first execution date and other latest conditions;
⑤ As an alternative to the impairment test of right of use assets, the company evaluates whether the contract including lease is a loss contract before the first execution date according to the accounting standards for Business Enterprises No. 13 – contingencies, and adjusts the right of use assets according to the amount of loss reserves included in the balance sheet date before the first execution date;
⑥ In case of lease change before the first execution date, the company shall conduct accounting treatment according to the final arrangement of lease change.
The above simplified treatment has no significant impact on the company’s financial statements.
3. For the operating lease contracts of low value assets existing before the first execution date, the company adopts a simplified method, does not recognize the right of use assets and lease liabilities, and carries out accounting treatment in accordance with the new lease standards from the first execution date.
4. The lease contract with the company as the lessor shall be subject to accounting treatment in accordance with the new lease standards from the first execution date.
5. Disposal of sale and leaseback transactions existing before the first execution date
For the sale and leaseback transactions existing before the first execution date, the company will not re evaluate whether the asset transfer meets the provisions of the accounting standards for Business Enterprises No. 14 – income for accounting treatment as sales on the first execution date.
For the after-sales leaseback transactions that are accounted for as sales and financial leases before the first execution date, the company, as the seller (lessee), will account for the leaseback in the same way as other financial leases existing on the first execution date, and continue to amortize relevant deferred income or loss within the lease term.
For the sale and leaseback transactions that are accounted for as sales and operating leases before the first execution date, the company, as the seller (lessee), will account for the leaseback in the same way as other operating leases existing on the first execution date, and adjust the right to use assets according to the relevant deferred income or loss recorded in the balance sheet before the first execution date.
(II) since January 26, 2021, the company has implemented the interpretation of accounting standards for Business Enterprises No. 14 issued by the Ministry of Finance in 2021. The change of accounting policy has no impact on the company’s financial statements.
(III) since December 31, 2021, the company has implemented the provisions of “relevant presentation of centralized fund management” in the interpretation of accounting standards for Business Enterprises No. 15 issued by the Ministry of finance. The change of accounting policy has no impact on the company’s financial statements.
3、 Opinions of the board of directors
On April 22, 2022, the company held the 23rd Meeting of the first session of the board of directors to consider and pass the proposal on the change of the company’s accounting policy. The board of directors held that the change of the accounting policy was carried out by the company in accordance with the relevant regulations and requirements issued by the Ministry of finance. After the change, the accounting policy can objectively and fairly reflect the company’s financial situation and operating results, and comply with the provisions of relevant laws and regulations and the actual situation of the company. This accounting policy change will not have a significant impact on the company’s financial situation, operating results and cash flow, nor will it damage the interests of the company and shareholders.
4、 Opinions of the board of supervisors
On April 22, 2022, the company held the 8th meeting of the first session of the board of supervisors, which deliberated and adopted the proposal on the change of the company’s accounting policies. The board of supervisors held that the corresponding change of the company’s accounting policies in accordance with the requirements of relevant documents issued by the Ministry of finance is in line with the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shenzhen Stock Exchange, the procedures are legal, and can objectively and fairly reflect the company’s financial situation and operating results, There are no circumstances that harm the interests of the company and shareholders, and the relevant decision-making procedures comply with the provisions of relevant laws and regulations and the articles of association. The board of supervisors agreed to the change of the company’s accounting policy.
5、 Opinions of independent directors
The independent directors of the company reviewed the proposal and issued independent opinions as follows: the change of accounting policy is a reasonable change made by the company in accordance with the requirements of relevant documents of the Ministry of Finance and the CSRC, in line with the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shenzhen stock exchange and the actual situation of the company, and its decision-making procedures comply with the provisions of relevant laws and regulations, It will not have a significant impact on the financial status, operating results and cash flow of the company in the current period and before the change of accounting policies, and there is no situation that damages the interests of the company and shareholders, especially minority shareholders. Therefore, we unanimously agree to the proposal on the change of accounting policies of the company.
6、 Documents for future reference
1. Resolution of the 23rd Meeting of the first board of directors of Chengdu Rml Technology Co.Ltd(301050) company;
2. Resolutions of the 8th meeting of the first board of supervisors of Chengdu Rml Technology Co.Ltd(301050) company;
3. Independent opinions of Chengdu Rml Technology Co.Ltd(301050) independent directors on matters related to the 23rd Meeting of the first board of directors.
It is hereby announced
Chengdu Rml Technology Co.Ltd(301050) board of directors April 25, 2022
