Securities code: Fujian Haiyuan Composites Technology Co.Ltd(002529) securities abbreviation: Fujian Haiyuan Composites Technology Co.Ltd(002529) Announcement No.: 2022025 Jiangxi Haiyuan Composite Technology Co., Ltd
Announcement on provision for impairment of assets and write off of assets in 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.
Jiangxi Haiyuan composite material technology Co., Ltd. (hereinafter referred to as "the company") held the 17th meeting of the 5th board of directors on April 25, 2022. With 7 votes in favor, 0 against and 0 abstention, the proposal on the provision for asset impairment and write off of assets in 2021 was deliberated and adopted.
1、 Provision for asset impairment in 2021
(I) overview of the provision for credit impairment loss, asset impairment provision and write off of assets this time
1. Reasons for withdrawing asset impairment provision this time
In accordance with the requirements of the accounting standards for business enterprises and the self regulatory guidelines of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board, and in order to more truly and accurately reflect the asset status and financial status of the company as of December 31, 2021, the company and its subsidiaries conducted a comprehensive inventory of inventory, accounts receivable, intangible assets, fixed assets and other assets at the end of 2021. The possibility of impairment of all kinds of intangible assets and the possibility of net realizable value of intangible assets are fully assessed on the basis of inventory and cash withdrawal of intangible assets. 2. The asset scope, total amount and reporting period of the current provision for asset impairment
After the year-end impairment test, the subsidiary's inventory and the list of possible impairment reserves of RMB 2021571 include the following items:
Assets withdrawn from the beginning of the year to the end of the year accounted for the name of assets belonging to the parent company after audit in 2021
The proportion of the amount of impairment provision (yuan) to the absolute value of the owner's net profit
Inventory 2751744561 25.14%
Accounts receivable 749243292 6.84%
Other receivables -436159846 -3.98%
intangible assets
Notes receivable -11500000 -0.11%
fixed assets
Construction in progress
Other non current financial assets 304363541 2.78%
Total 3357691548 30.68%
2、 Details of the provision for asset impairment and write off of assets this time
(I) details of the provision for asset impairment this time
1. Bad debt provision
According to the relevant provisions of the accounting standards for Business Enterprises No. 22 - recognition and measurement of financial instruments, the company accrued bad debt reserves for accounts receivable, other receivables, notes receivable and long-term receivables within the scope of consolidated statements on December 31, 2021, totaling 301583446 yuan, accounting for 2.76% of the audited net profit attributable to shareholders of Listed Companies in 2021.
2. Inventory falling price reserves
According to the relevant provisions of accounting standards for Business Enterprises No. 1 - inventory, the inventory falling price reserves for products and raw materials within the scope of consolidated statements on December 31, 2021 are calculated according to the lower of cost and net realizable value. According to the situation that the inventory cost is higher than its net realizable value, the total amount of inventory falling price reserves is 2751744561 yuan, accounting for 25.14% of the company's audited net profit attributable to shareholders of Listed Companies in 2021.
3. Provision for impairment of other non current financial assets
According to the relevant provisions of accounting standards for Business Enterprises No. 8 - asset impairment, the provision for impairment of other non current financial assets within the scope of consolidated statements on December 31, 2021 is 304363541 yuan, accounting for 2.78% of the audited net profit attributable to shareholders of Listed Companies in 2021.
(II) details of the assets written off this time
According to the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, in order to truly reflect the company's financial situation and asset value, the amount of scrapped inventory in this period is 0 yuan.
In 2021, the company wrote off 948756546 yuan and 1592673486 yuan of accounts receivable and other receivables whose debtors had been cancelled or failed to perform their repayment obligations within the time limit, which were confirmed by the board of directors to be irrecoverable and had actually incurred losses.
3、 Approval procedures for the withdrawal of asset impairment reserves and the performance of write off assets this time
According to the relevant regulations of the company, the provision for asset impairment and write off of assets in 2021 have been deliberated and approved at the 17th meeting of the 5th board of directors and the 17th meeting of the 5th board of supervisors of the company, and need not be submitted to the general meeting of shareholders of the company for deliberation. The provision for asset impairment and write off of assets do not involve related party transactions.
4、 The impact of the provision for asset impairment and write off of assets on the company
The total amount of the company's provision for asset impairment in 2021 is 3357691548 yuan, which is included in the reporting period from January 1, 2021 to December 31, 2021. Considering the income tax, the provision for asset impairment this time reduces the company's net profit attributable to the owners of listed companies by 3357691548 yuan in 2021. The total assets written off by the company in 2021 were 2541430032 yuan, and the bad debt provision was 2541430032 yuan. The assets written off this time had no impact on the profit and loss during the reporting period. The provision for asset impairment and write off of assets in this year have been audited by an accounting firm.
The write off of receivables in this year meets the requirements of accounting standards and relevant policies, conforms to the actual situation of the company, and does not harm the interests of the company and shareholders. Some write off of receivables in this year do not involve related parties of the company. There is no profit manipulation in the provision for asset impairment and write off of assets this time.
5、 Statement of the audit committee of the board of directors on the rationality of the provision for asset impairment and write off of assets in 2021
The company's provision for asset impairment and write off of assets this time comply with the provisions of the accounting standards for business enterprises and relevant accounting policies of the company, reflect the principle of prudence in accounting treatment, have sufficient basis and comply with the current operation situation of the company. After the provision for asset impairment and write off of assets, the company can more fairly reflect the financial status, asset value and operating results as of December 31, 2021, and effectively ensure the authenticity and accuracy of the company's accounting information. Therefore, we unanimously agree that the company's provision for asset impairment and write off of assets this time. 6、 Opinions of the board of supervisors
After review, the board of supervisors believes that the company's provision for asset impairment and write off of assets in accordance with the accounting standards for business enterprises and relevant regulations are in line with the actual situation of the company. After the provision and write off, it can more fairly reflect the asset status of the company as of December 31, 2021, and the decision-making procedure of the board of directors of the company on this proposal is legal and compliant. The board of supervisors agreed to withdraw the provision for asset impairment and write off assets this time.
7、 Independent opinions of independent directors on the provision for asset impairment in 2021
After verification, the independent directors believe that the company's provision for asset impairment and write off of assets are based on the principle of prudence, in line with the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, can objectively and fairly reflect the company's financial situation and operating results, help to provide investors with more authentic, reliable and accurate accounting information, and there is no situation that damages the interests of the company and all shareholders. The decision-making procedures for withdrawing the provision for asset impairment and writing off assets this time comply with the relevant provisions of laws, regulations and the articles of association. It is agreed that the company shall make provision for asset impairment and write off assets in 2021.
8、 Documents for future reference
1. Resolutions of the 17th meeting of the 5th board of directors of the company;
2. Resolutions of the 17th meeting of the 5th board of supervisors of the company;
3. Independent opinions of the company's independent directors on relevant proposals of the 17th meeting of the Fifth Board of directors; 4. Statement of the audit committee of the board of directors on the rationality of the provision for asset impairment and write off of assets. It is hereby announced.
Board of directors of Jiangxi Haiyuan composite material technology Co., Ltd
April 26, 2002
