Securities code: Zhanjiang Guolian Aquatic Products Co.Ltd(300094) securities abbreviation: Zhanjiang Guolian Aquatic Products Co.Ltd(300094) Announcement No.: 2022023 Zhanjiang Guolian Aquatic Products Co.Ltd(300094)
Announcement on the provision for asset impairment and write off of assets in 2021
The company and all members of the board of directors guarantee that the contents of the announcement are true, accurate and complete without false records, misleading statements or major omissions.
1、 Overview of the provision for asset impairment and write off of assets this time
(I) reasons for withdrawing asset impairment provision this time
Zhanjiang Guolian Aquatic Products Co.Ltd(300094) (hereinafter referred to as "the company") the provision for asset impairment is made in accordance with the accounting standards for business enterprises and the relevant provisions of the company's accounting policies. The company and its subsidiaries conducted a comprehensive inventory of various inventories, accounts receivable, other receivables, fixed assets, construction in progress, intangible assets and other assets at the end of 2021, and fully evaluated and analyzed the net realizable value of various inventories, the possibility of recovery of accounts receivable and other receivables, and the variability of fixed assets, construction in progress and intangible assets, It is considered that some of the above assets have certain signs of impairment. Based on the principle of prudence, the company shall make provision for the possible impairment loss of assets.
(II) the scope and total amount of the provision for asset impairment and write off of assets this time
After the company conducted the asset impairment test on the assets that may show signs of impairment in 2021, the total provision for asset impairment was 16001027972 yuan. Of which:
Current amount of the project (yuan)
1、 Bad debt loss 796417525
2、 Inventory falling price loss 15204610447
Total 16001027972
2. Assets written off this time
Provision for impairment has been made
Asset category write off amount (yuan) write off reason
Amount (yuan)
Accounts receivable 117 G-Bits Network Technology(Xiamen)Co.Ltd(603444) cannot be recovered
Other receivables 1631708 cannot be recovered
Total 119235152
2、 The recognition standard and withdrawal method of the provision for asset impairment this time
(I) recognition standard and accrual method of impairment of financial assets
The financial assets that the company needs to recognize impairment losses are financial assets measured at amortized cost, debt instrument investments measured at fair value and whose changes are included in other comprehensive income, and lease receivables, mainly including notes receivable, accounts receivable, other receivables, long-term receivables, etc. In addition, for some financial guarantee contracts, provision for impairment and recognition of credit impairment losses are also made in accordance with the accounting policies described in this part.
Recognition method of impairment provision
Based on the expected credit loss, the company accrues the impairment provision and recognizes the credit impairment loss for the above items according to the applicable expected credit loss measurement method (general method or simplified method).
Credit loss refers to the difference between all contract cash flows receivable under the contract and all cash flows expected to be received by the company discounted at the original effective interest rate, that is, the present value of all cash shortages. Among them, for the financial assets purchased or generated with credit impairment, the company discounts them according to the actual interest rate adjusted by the credit of the financial assets.
The general method of measuring the expected credit loss refers to that the company assesses whether the credit risk of financial assets has increased significantly since the initial recognition on each balance sheet date. If the credit risk has increased significantly since the initial recognition, the company measures the loss reserve according to the amount equivalent to the expected credit loss in the whole duration; If the credit risk does not increase significantly after initial recognition, the company measures the loss reserve according to the amount equivalent to the expected credit loss in the next 12 months. When evaluating the expected credit loss, the company considers all reasonable and based information, including forward-looking information.
For financial instruments with low credit risk on the balance sheet date, assuming that their credit risk has not increased significantly since initial recognition, the company chooses to measure the loss reserve according to the expected credit loss in the next 12 months. According to whether their credit risk has increased significantly since initial recognition, the loss reserve is measured based on the expected credit loss in the next 12 months or the whole duration.
Criteria for judging whether credit risk has increased significantly since initial recognition
If the probability of default of a financial asset within the expected duration determined on the balance sheet date is significantly higher than the probability of default within the expected duration determined at initial recognition, it indicates that the credit risk of the financial asset has increased significantly. Except for special circumstances, the company uses the change of default risk in the next 12 months as a reasonable estimate of the change of default risk in the whole duration to determine whether the credit risk has increased significantly since initial recognition.
Portfolio based approach to assessing expected credit risk
The company evaluates the credit risk of financial assets with significantly different credit risks, such as accounts receivable from related parties; Receivables in dispute with the other party or involving litigation and arbitration; Receivables that have obvious signs that the debtor is likely to be unable to perform its repayment obligations.
In addition to the financial assets that individually assess the credit risk, the company divides the financial assets into different groups based on the common risk characteristics, and evaluates the credit risk on the basis of combination.
Accounting treatment of impairment of financial assets
At the end of the period, the company calculates the expected credit loss of various financial assets. If the expected credit loss is greater than the carrying amount of its current impairment provision, the difference is recognized as impairment loss; If it is less than the carrying amount of the current impairment provision, the difference is recognized as impairment gain.
Determination method of credit loss of various financial assets
① Notes receivable
The company measures the loss reserves for notes receivable according to the amount equivalent to the expected credit loss in the whole duration.
Based on the credit risk characteristics of notes receivable, they are divided into different combinations:
Basis for determining project portfolio
The acceptor of bank acceptance bill is a bank with low credit risk.
Commercial acceptance bill takes the aging of commercial acceptance bill as the characteristic of credit risk.
② Accounts receivable and contract assets
For accounts receivable and contract assets without major financing components, the company measures the loss reserves according to the amount equivalent to the expected credit loss in the whole duration.
For receivables, contract assets and lease receivables with significant financing components, the company chooses to always measure the loss reserves according to the amount equivalent to the expected credit loss during the duration.
In addition to the accounts receivable that individually assess credit risk, they are divided into different combinations based on their credit risk characteristics:
Basis for determining project portfolio
Aging portfolio this portfolio takes the aging of accounts receivable as the credit risk feature.
Related party portfolio this portfolio is related party funds within the consolidation scope.
③ Other receivables
The company adopts the amount equivalent to the expected credit loss in the next 12 months or the whole duration to measure the impairment loss according to whether the credit risk of other receivables has increased significantly since the initial recognition. In addition to other receivables that individually assess credit risk, they are divided into different combinations based on their credit risk characteristics:
Basis for determining project portfolio
Aging portfolio this portfolio takes the aging of other receivables as the credit risk feature.
Related party portfolio this portfolio is related party funds within the consolidation scope.
(II) recognition of net realizable value of inventories and withdrawal method of falling price reserves
Net realizable value refers to the amount of the estimated selling price of inventory minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes in daily activities. When determining the net realizable value of inventories, it shall be based on the conclusive evidence obtained, and consider the purpose of holding inventories and the impact of events after the balance sheet date.
On the balance sheet date, inventories are measured at the lower of cost and net realizable value. When the net realizable value is lower than the cost, the inventory falling price reserves shall be withdrawn.
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.
After the provision for inventory falling price is made, if the factors affecting the previous write down of inventory value have disappeared, resulting in the net realizable value of inventory being higher than its book value, it shall be reversed from the amount of inventory falling price provision that has been made, and the reversed amount shall be included in the current profit and loss.
3、 The company's approval procedures for withdrawing asset impairment reserves and writing off assets this time
The company's provision for asset impairment and write off of assets were reviewed and approved at the 12th meeting of the 5th board of directors and the 10th meeting of the 5th board of supervisors. The independent directors expressed independent opinions on the matter and agreed to the provision for asset impairment and write off of assets.
4、 The impact of the provision for asset impairment and write off of assets on the company
The total provision for impairment of various assets this time is 16001027972 yuan, which will reduce the total profit of the company in 2021 by 16001027972 yuan. This write off of assets of 119235152 yuan has no impact on the total profit in 2021. The provision for asset impairment and write off assets have been audited and confirmed by Zhongshen Zhonghuan Certified Public Accountants (special general partnership).
5、 Notes of the board of directors on the provision for asset impairment and write off of assets
After deliberation, the board of directors unanimously agreed on the provision for asset impairment and write off of assets.
According to the requirements of self regulatory guidelines for companies listed on the growth enterprise market of Shenzhen Stock Exchange No. 1 - matters related to periodic report disclosure and relevant provisions of the company's accounting policies, the company conducted impairment tests on various assets in 2021, made provision for asset impairment for assets that may have asset impairment losses, and wrote off accounts receivable that cannot be recovered. The company's provision for impairment of assets and write off of assets in 2021 comply with the relevant provisions of the accounting standards for business enterprises and the actual situation of the company. The basis for the provision for impairment and write off of assets is sufficient, which reflects the principle of accounting prudence, is conducive to objectively and fairly reflect the company's financial situation and asset value, and there is no damage to the interests of the company and all shareholders.
6、 Opinions of independent directors on the provision for asset impairment and write off of assets
After careful review, the independent directors of the company believe that the basis for the provision for asset impairment and write off of assets is sufficient and in line with the actual situation of the company. The provision for asset impairment mentioned in this write off of assets can truly and fairly reflect the operating and financial status of the company's assets, make the company's accounting information more reasonable and meet the overall interests of the company and all shareholders. We agree that the company's write off of the provision for impairment of assets refers to asset matters.
7、 Opinions of the board of supervisors
The board of supervisors believes that the company's resolution procedure for withdrawing the provision for asset impairment and writing off assets is legal, based on sufficient basis, in line with the relevant provisions of the accounting standards for business enterprises and the actual situation of the company, which is conducive to objectively and fairly reflecting the company's financial situation and asset value. The board of supervisors agrees with the matters related to withdrawing the provision for asset impairment and writing off assets.
8、 Documents for future reference
1. Resolutions of the 12th meeting of the 5th board of directors; 2. Resolutions of the 10th meeting of the 5th board of supervisors; 3. Independent opinions of independent directors on relevant matters. It is hereby announced.
Zhanjiang Guolian Aquatic Products Co.Ltd(300094) board of directors April 27, 2022
