Securities code: Tianjin Songjiang Co.Ltd(600225) securities abbreviation: Tianjin Songjiang Co.Ltd(600225) Announcement No.: pro 2022029
Tianjin Songjiang Co.Ltd(600225)
Announcement on the provision for asset impairment
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Tianjin Songjiang Co.Ltd(600225) (hereinafter referred to as “the company”) held the 29th meeting of the 10th board of directors on April 25, 2022, deliberated and adopted the proposal on the company’s provision for asset impairment, and the relevant information is announced as follows:
1、 Provision for impairment of assets
In order to reflect the company’s financial situation and asset value more objectively and fairly, according to the relevant requirements for the recognition and provision of credit impairment loss and asset impairment loss determined by the accounting standards for business enterprises and the company’s current accounting policies, and based on the principle of prudence, the company has accrued impairment loss of about 628986200 yuan for all assets within the scope of the consolidated accounting statements of the 2021 annual report. The details are as follows:
Project amount (10000 yuan)
1、 Credit impairment loss
Including: impairment loss of notes receivable -60.75
Impairment loss of accounts receivable -439060
Impairment loss of prepayments -317.41
Impairment loss of other receivables -2728865
Long term receivables and overdue long-term receivables reclassified to other current assets, others due within one year -156.00
Impairment loss of long-term receivables of non current assets
Subtotal -3221341
2、 Asset impairment loss
Including: impairment loss of contract assets and contract assets reclassified to other non current assets -98.72
Inventory falling price loss -2311133
Impairment loss of investment real estate -602909
Impairment loss of fixed assets -301.63
Impairment loss of contract acquisition cost in other non current assets -114444
Subtotal -3068521
Total -6289862
2、 Main description of provision for asset impairment in this year
1. Credit impairment loss
At the end of the reporting period, the company measured the loss provision by the amount of default risk exposure and expected credit loss in the next 12 months or the whole duration according to the accounting policy, combined with the current situation and the recovery of future funds. In the current period, the provision for impairment loss of notes receivable is 607500 yuan, impairment loss of accounts receivable is 43906000 yuan, impairment loss of prepayments is 3174100 yuan, impairment loss of other receivables is 272886500 yuan, and bad debt loss of long-term receivables is 1.56 million yuan, totaling about 322134100 yuan.
Among them, the impairment loss of other receivables is that Tianjin Songjiang Group Co., Ltd., the holding subsidiary of the company (no longer included in the scope of consolidation after April 20, 2021), entered the bankruptcy liquidation procedure. Considering the realization value of its assets, the impairment of receivables of Tianjin Jinghai Tuanbo new town development and Construction Corporation was withdrawn.
2. Asset impairment loss
Affected by covid-19 epidemic and economic downturn, the real estate industry has been greatly impacted. Considering the stock of real estate and the net realizable value of the real estate of 9 subsidiaries in the recent liquidation period, the court ruled that the realizable amount of the real estate of 9 subsidiaries has been affected by the stock reorganization and the net realizable value of the real estate of 9 subsidiaries In the bankruptcy liquidation procedure, the subsidiary company accrued 231113300 yuan of inventory falling price loss and 60290900 yuan of investment real estate impairment loss, totaling about 291404200 yuan.
In addition, during the reporting period, the company accrued 987200 yuan of impairment loss of contract assets and reclassified to other non current assets, 3016300 yuan of impairment loss of fixed assets, 11444400 yuan of impairment loss of contract acquisition cost in other non current assets, and the total impairment loss of the above assets was 306852100 yuan. 3、 Impact of provision for impairment in this year on the company’s operating results
The provision for impairment of various assets accrued by the company and its subsidiaries will reduce the total profit of about 628986200 yuan in 2021.
It is hereby announced.
Tianjin Songjiang Co.Ltd(600225) board of directors
April 27, 2022
