Securities code: Guangdong Enpack Packaging Co.Ltd(002846) securities abbreviation: Guangdong Enpack Packaging Co.Ltd(002846) Announcement No.: 2022037 bond Code: 128079 bond abbreviation: Yinglian convertible bond
Guangdong Enpack Packaging Co.Ltd(002846)
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.
Guangdong Enpack Packaging Co.Ltd(002846) (hereinafter referred to as “the company”) held the 20th meeting of the third board of directors and the 19th meeting of the third board of supervisors on April 23, 2022, and deliberated and adopted the proposal on changes in accounting policies respectively. This change in accounting policies does not need to be submitted to the general meeting of shareholders of the company for deliberation. The specific contents are hereby announced as follows:
1、 Overview of changes in accounting policies
1. Reason for change
(1) On November 2, 2021, the Ministry of Finance issued the question and answer on the implementation of the fifth batch of accounting standards for business enterprises in 2021, which reclassifies all the sales expenses to operating costs for the transportation costs incurred before the control of goods is transferred to customers and for the performance of sales contracts.
(2) On December 30, 2021, the Ministry of Finance promulgated the interpretation of accounting standards for Business Enterprises 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 presentation related to centralized fund management, and the judgment of loss contracts.
(3) On February 2, 2021, the Ministry of Finance issued the interpretation of accounting standards for Business Enterprises No. 14 (CAI Kuai [2021] No. 1), which stipulates the accounting treatment of social capital parties for government and social capital cooperation (PPP) project contracts and the accounting treatment of changes in the basis for determining the cash flow of relevant contracts caused by the reform of benchmark interest rate.
(4) On June 19, 2020, the Ministry of Finance issued the provisions on accounting treatment of rent concessions related to covid-19 pneumonia epidemic (CK [2020] No. 10). For rent concessions such as rent reduction and deferred payment directly caused by covid-19 pneumonia epidemic that meet the conditions, enterprises can choose to adopt simplified methods for accounting treatment. The Ministry of Finance issued the notice on adjusting the scope of application (CK [2021] No. 9) on May 26, 2021, which will come into force as of May 26, 2021, The scope of application of rent concession related to covid-19 pneumonia epidemic, which is allowed to adopt the simplified method in the provisions on accounting treatment of rent concession related to covid-19 pneumonia epidemic, is adjusted from “the concession is only for the lease payment payable before June 30, 2021” to “the concession is only for the lease payment payable before June 30, 2022”, and other applicable conditions remain unchanged.
2. Date of change
According to the regulations, the company shall implement the above enterprise accounting policies on the starting date specified in the above documents.
3. Accounting policies adopted before change
Before the change of accounting policy, 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 accounting policy change, the company will implement the accounting standards for Business Enterprises No. 14 – Revenue (CK [2017] No. 22) revised and issued by the Ministry of Finance and the questions and answers on the implementation of the fifth batch of accounting standards for business enterprises in 2021, the interpretation of accounting standards for business Enterprises No. 15 and the interpretation of accounting standards for Business Enterprises No. 14 issued by the Ministry of Finance in 2021 Notice on adjusting the scope of application of the provisions on accounting treatment of rent reduction related to covid-19 pneumonia epidemic. Other unchanged parts shall still be implemented in accordance with the relevant standards and other relevant provisions issued by the Ministry of Finance in the early stage.
2、 Main contents of this accounting policy change
1. Presentation of transportation costs
For the transportation costs incurred before the control of the goods is transferred to the customer and for the performance of the sales contract, all the sales expenses shall be reclassified to the operating cost, and the amount in the same period of the previous year shall be retroactively adjusted. 2. Interpretation of accounting standards for Business Enterprises No. 15
The interpretation of accounting standards for Business Enterprises No. 15 clarifies 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.
3. Interpretation of accounting standards for Business Enterprises No. 14
The interpretation of accounting standards for Business Enterprises No. 14 stipulates the accounting treatment of social capital parties for government and social capital cooperation (PPP) project contracts, and the accounting treatment of changes in the basis for determining the cash flow of relevant contracts caused by the reform of benchmark interest rate.
4. Notice on adjusting the scope of application of the regulations on accounting treatment of rent reduction related to covid-19 pneumonia epidemic the Ministry of Finance issued the regulations on accounting treatment of rent reduction related to covid-19 pneumonia epidemic on June 19, 2020
(CAI Kuai [2020] No. 10), for rent reduction, deferred payment of rent and other rent concessions directly caused by covid-19 pneumonia, enterprises can choose to adopt simplified methods for accounting treatment.
The Ministry of Finance issued the notice on adjusting the scope of application on May 26, 2021 (Finance and accounting [2021])
No. 9), effective from May 26, 2021, the rent reduction related to covid-19 pneumonia epidemic shall be accounted for
The scope of application of rent concessions related to covid-19 pneumonia epidemic, which are allowed to adopt the simplified method in the provisions, is changed from “concession only”
The “lease payment payable before June 30, 2021” is adjusted to “concession” only for June 30, 2022
“Lease payments payable in advance”, and other applicable conditions remain unchanged. The implementation of this provision has not had a significant impact on the financial status and operating results of the company.
3、 Impact of this accounting policy change on the company
1. Presentation of transportation costs
According to the question and answer on the implementation of accounting standards for business enterprises issued by the accounting department of the Ministry of Finance on November 2, 2021, the company retroactively adjusted the relevant subjects of the 2020 financial statements as follows:
Affected amount (yuan)
Contents of accounting policy changes affected statement items 2020 consolidated statement 2020 parent company statement
For the transportation incurred for the performance of the sales contract before the sales expenses -2048031083 -995876397 of the transfer of commodity control to the customer
Cost, the company classifies all its self selling expenses as operating costs 2048031083 and 995876397; Related cash flows are also paid from “expenses” to other operating activities
The cash related to the adjustment of “other cash payments related to operating activities” – 2046784459 -945140086 to “cash paid for purchasing goods and receiving labor services” to the expenses for purchasing goods and receiving labor services
Listed.
Cash paid 2046784459 -945140086
2. Interpretation of accounting standards for Business Enterprises No. 15
Interpretation of accounting standards for Business Enterprises No. 15 impact of changes in accounting policies on the company in 2021 and previous years
Financial position, operating results and cash flow have no impact.
3. Interpretation of accounting standards for Business Enterprises No. 14
The change of accounting policies in the interpretation of accounting standards for Business Enterprises No. 14 has no impact on the company’s financial position, operating results and cash flow in 2021 and previous years.
4. Notice on adjusting the scope of application of the accounting treatment provisions on rent reduction related to covid-19 pneumonia implementation of the notice on adjusting the scope of application of the accounting treatment provisions on rent reduction related to covid-19 pneumonia has no impact on the company’s financial position, operating results and cash flow in 2021 and previous years.
4、 Review and special comments
1. The board of directors’ statement on the reasonableness of accounting policy changes
The board of directors of the company believes that the company has made corresponding changes to the company’s accounting policies in accordance with the accounting policies issued by the Ministry of finance, in line with the relevant requirements of national laws and regulations, the current accounting standards, the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shenzhen Stock Exchange and the actual situation of the company. This change will not have a significant impact on the total assets, total liabilities, net assets and net profit of the company in the current period and before the change of accounting policies, nor will it damage the interests of the company and all shareholders.
2. Opinions of the board of supervisors on changes in accounting policies
After review, the board of supervisors of the company believes that the change of accounting policies is a reasonable change made by the company in accordance with the requirements of relevant documents of the Ministry of finance, 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, its decision-making procedures comply with relevant laws and regulations and the articles of association, and there is no damage to the interests of the company and shareholders. The board of supervisors agreed to the change of the company’s accounting policy.
3. Opinions on changes in accounting policies of independent directors
After verification, the independent directors of the company believe that the change of accounting policy is a change made by the company in accordance with the relevant provisions and requirements of the Ministry of finance, which can more objectively and fairly reflect the company’s financial status and operating results, and the relevant decision-making procedures comply with the provisions of relevant laws and the articles of association. This change will not have a significant impact on the company’s financial statements and will not damage the interests of the company and shareholders. Therefore, we agree to the change of the company’s accounting policy.
It is hereby announced.
5、 Documents for future reference
1. Guangdong Enpack Packaging Co.Ltd(002846) the resolution of the 20th meeting of the third board of directors
2. The 19th meeting of the board of supervisors
3. Guangdong Enpack Packaging Co.Ltd(002846) independent directors’ independent opinions on matters related to the 20th meeting of the third board of directors
Guangdong Enpack Packaging Co.Ltd(002846) board of directors
April 25, 2002