Securities code: Shenzhen Sunwin Intelligent Co.Ltd(300044) securities abbreviation: Shenzhen Sunwin Intelligent Co.Ltd(300044) Announcement No.: 2022039 Shenzhen Sunwin Intelligent Co.Ltd(300044)
Announcement on correction and retroactive adjustment of major accounting errors in the previous period
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.
Shenzhen Sunwin Intelligent Co.Ltd(300044) (hereinafter referred to as "the company" or "the company") was issued an audit report in 2020, which could not express an opinion. The matters covered were wide. Therefore, the company conducted a comprehensive self-examination and found that there were significant accounting errors in the accounting treatment of previous years. The company has corrected the previous errors and made retroactive adjustments to the financial statements of 2018, 2019 and 2020. In accordance with the rules for the preparation and reporting of information disclosure of companies offering securities to the public No. 19 - correction and related disclosure of financial information and the relevant provisions of Shenzhen Stock Exchange, the company explains the correction of major accounting errors in the previous period as follows: I. main reasons and specific contents of the correction of errors in the previous period
(I) main reasons for correction of accounting errors in the previous period
Shenzhen Sunwin Intelligent Co.Ltd(300044) (hereinafter referred to as "the company" or "Saiwei intelligent") received the decision on ordering Shenzhen Saiwei intelligent Co., Ltd. to take corrective measures ([2021] No. 52) issued by Shenzhen regulatory bureau of China Securities Regulatory Commission on May 10, 2021, pointing out that the actual situation of some capital expenditure of the company is inconsistent with that disclosed in the 2020 semi annual report and 2020 annual report of the company; Shenzhen Qianhai Boyi Technology Development Co., Ltd., a wholly-owned subsidiary of the company, finally received part of the accounts receivable in 2020 from the company, which constitutes a fictitious collection of accounts receivable. For details, see the relevant instructions in the rectification report on the decision of China Securities Regulatory Commission Shenzhen regulatory bureau to order the company to take corrective measures (Announcement No.: 2021070) announced by the company on June 9, 2021.
(II) contents of correction of accounting errors in the previous period
1. Adjustment for non commercial real expenditure identified in the comprehensive self-examination
Through a comprehensive analysis and inspection of the company's transactions with units without commercial substantive expenses disclosed in the decision on ordering correction over the years, it is found that there is a total payment of 1232238011 yuan with Shenzhen qianhaijunhan Technology Co., Ltd. (hereinafter referred to as "qianhaijunhan") which is included in the project construction cost of 969914419 yuan in the name of project consulting management fee and 2623233592 yuan in the name of technical service fee. In January 2020, the company paid 248 million yuan to Shaanxi GESHANG Industrial Co., Ltd., Shenzhen Taihe Jiayuan Trading Co., Ltd., Shenzhen Haotian Hangyu Trading Co., Ltd. and Guangzhou Gaoluo Information Technology Co., Ltd. with the funds loaned by Huaxing bank and through project payment and advance payment, so as to solve the problem of capital withdrawal of TEDA Manulife's subscription of the company's fixed additional shares in 2017. This transaction does not have the essence of commercial transaction.
To solve this problem, offset the corresponding costs and expenses, and confirm the corresponding other creditor's rights.
2. Business to data center adjustment
As the data center projects disclosed in the decision on ordering correction have internal control defects, chaotic management and unclear accounting, the company decided to conduct a comprehensive inspection of the data center projects confirmed over the years. The self inspection found the following problems:
(1) For the projects that have been completed and accepted, the construction cost is not estimated according to the subcontract.
Through self inspection, it was found that due to the chaotic project management of the data center, the project construction was not submitted to the group's financial center in time. Therefore, the company's financial accounting mainly takes the date of receiving the invoice issued by the subcontractor as the time point for the entry of construction costs, so there is still the phenomenon of entry of construction costs after the project acceptance and settlement, resulting in the undercounting of project construction and operating costs.
In response to this problem, the company retroactively adjusted the construction of each phase of the project in previous years according to the time point when the subcontractor actually performed the subcontracting obligations and based on the consideration agreed in the subcontract, and adjusted the business cost and other subjects accordingly.
(2) After the project is settled, the accumulated recognized contract income and contract cost of the project are not adjusted in time according to the settlement cost and the settlement cost of subcontractors.
Through self inspection, it was found that some data center projects failed to copy the project settlement report to the group's financial center in time, and the accumulated recognized contract revenue and contract cost of the project were not adjusted in time according to the settlement report after the settlement date, resulting in significant differences between the accumulated recognized contract revenue and contract cost and the settlement amount, and there was over recognized revenue.
To solve this problem, the company checks all settled items, and retroactively adjusts the difference between the accumulated recognized contract revenue, contract cost and settlement amount to the corresponding settlement year.
3. Adjustment of consolidation scope
On January 11, 2018, Hefei Saiwei signed Anhui Zhongqian Construction Engineering Co., Ltd. with he Banglai and fan Longfei
According to the capital and share increase agreement of the company (hereinafter referred to as "Anhui Zhongqian"), on February 27, 2018, the board of directors of Anhui Zhongqian decided to appoint Li Na as the chairman and Lin Wei and he Banglai as the directors, of which Li Na and Lin Wei were appointed by Hefei Sai. After signing the capital and share increase agreement, the company has been unable to fulfill its actual investment obligations. However, after the re-election of Anhui Zhongqian's board of directors, Hefei Sai has actually appointed two of the three members of the board of directors, which has met the conditions of actual control. To solve this problem, Anhui Zhongqian was included in the consolidation scope, and the corresponding annual consolidated statements were adjusted.
4. Wrong adjustment of the time point of transferring construction in progress to fixed assets
The company acquired the real property right of Saiwei building since February 2020. For details, see the relevant instructions in the announcement on the progress of the company's purchase of real estate (Announcement No.: 2020014) announced by the company on February 27, 2020. The company will include the purchase money and loan interest paid to Saiwei building into the construction in progress, and transfer it to the accounting of fixed assets after the decoration of the main project is completed and put into use in 2021.
Since the service life of the main structure of the house is different from that of ancillary facilities such as water and electricity decoration, according to Article 5 of the accounting standards for Business Enterprises No. 4 - fixed assets, the main structure and decoration of the house shall be recognized as different fixed assets respectively, and whether they have reached the expected usable state shall be determined according to the state of the asset item itself. Since the main project meets the original technical indicators of construction engineering and the use requirements of the company for the main project of real estate at the time of purchase, it shall be recognized as fixed assets when controlling the asset, and depreciation shall be accrued in accordance with the standards. At the same time, due to the adjustment of fixed assets, the loan interest on the acquisition of real estate does not meet the conditions for the capitalization of borrowing costs, and the corresponding adjustment is included in the current profit and loss.
5. Insufficient provision for bad debt reserves
(1) Shenzhen Qianhai Haoneng Internet Co., Ltd. (hereinafter referred to as Qianhai Haoneng) launched the "huitou worry free" online loan platform in August 2015 to engage in P2P online loan business.
In response to the requirements of the national financial policy, qianhaihaoneng decided to withdraw from the online loan industry and no longer operate the online loan business on February 14, 2019. From March 23, 2019, huitou worry free platform stopped issuing bids and entered the clearing stage. In the process of repayment, Qianhai Haoneng can make compensation for some businesses that the borrower fails to make normal repayment within the time limit by signing a debt transfer agreement with the lender, so as to protect the rights and interests of investors. As of July 16, 2020, all investor funds have been compensated, with a cumulative compensation of 1689215608 yuan. As of June 30, 2020, the accumulated bad debt of this other receivables was 1118665483 yuan.
In the later process of recovering the overdue funds of the borrower, the court will not file a case because it involves P2P business. Therefore, according to the judgment of the company, other receivables arising from subrogation of the lender's funds during the liquidation process are expected to be unrecoverable. According to the principle of prudence, the bad debt of other receivables arising from this event will be fully withdrawn by 570550125 yuan in 2020.
(2) In January 2016, Sichuan chuanta Hengyuan Industrial Co., Ltd. (hereinafter referred to as chuanta company) proposed a mortgage loan of 5 million yuan to qianhaihaoneng due to the capital demand of the "Chengdu 339" square project of Sichuan TV Tower. Chuanta mortgaged the real estate with a total pre-sale registration price of 6753100 yuan held by it to Qianhai Haoneng and signed the loan contract. The contract stipulates that the loan term is three months, that is, from January 29, 2016 to April 29, 2016, and the annualized interest of the loan is 24%, which is calculated and paid monthly. Qianhaihao can lend 5 million yuan to the designated account of chuanta according to the agreement. At the same time, the loan business is reflected in "issuing loans and advances" in the financial statements.
In 2018, the company filed a lawsuit against chuanta company to the people's court and applied for compulsory enforcement of the collateral. As of December 31, 2018, the real estate mortgaged by chuanta company was still in the enforcement stage. Our company judged that the expected recoverable amount of the financial asset was still quite possible, so we accrued a bad debt of 100000 yuan for the loan.
In 2019, after receiving the notice from the people's court, the people's court first paid the execution payment to the creditors of major banks according to the order of execution and mortgage registration. Because chuanta has a large number of debts, a large amount of debts, and its assets are insufficient to pay off all debts or obviously lack solvency, it is considered that there are significant adverse changes in the credit status and asset quality of the enterprise, and there are obvious signs of major bad debts, Therefore, the bad debt of this loan shall be withdrawn in full according to the expected credit loss.
Due to the company's failure to maintain continuous follow-up on the credit status of chuanta company and unable to grasp the credit risk of this financial asset in time, the bad debt provision was understated in 2019.
6. Other adjustments
(1) Adjust the insufficient provision for inventory falling price reserves of the subsidiary zhongxinsai.
(2) Structural deposits are adjusted from bank deposits to trading financial assets.
(3) Hefei Saiwei presents the receivable Yunxin for the purpose of both receiving contract cash flow and selling as receivables financing.
(4) The company classifies the contingent consideration for the acquisition of Beijing Kaixin people as financial assets measured at fair value and whose changes are included in the current profit and loss, and adjusts it from other equity instrument investment to trading financial assets.
(5) Others.
2、 Impact of correction of accounting errors in the previous period on the consolidated and parent company's financial statements
The company comprehensively combed and verified the financial statements of 2018, 2019 and 2020 in accordance with the accounting standards for business enterprises and the company's accounting policies. The consolidation and impact of 2018, 2019 and 2020 are as follows:
(I) impact of correction of accounting errors in the previous period on the consolidated financial statements
1. Impact of correction of accounting errors in the previous period on the consolidated financial statements in 2020
Unit: Yuan
Cumulative amount before restatement of affected statement items amount after restatement monetary capital 359131609834048970935953650692 trading financial assets - 12287457531228745753 accounts receivable 98523309999 - 3895614821159567161788 accounts receivable financing - 2796146 Suzhou Shijia Science & Technology Inc(002796) , 146.00 prepayment 12388898153 -91554153593233482794 other receivables 317169215752409299588355809917458 inventory 281471751112481779734062895484 contract assets 81568742620 -2501234431856556398302 other current assets 8404663547 -107706496873275985 . 79 issuing loans and advances 490000000 -490000000 - investment in other equity instruments - 5200 Shenzhen Fountain Corporation(000005) 20000000 other non current financial assets 520000000 -520000000 - fixed assets 7864133883830902495115109543833953 construction in progress 41167125483 -35998 Daqin Railway Co.Ltd(601006) 51685 ,244.77
