Securities code: Hitevision Co.Ltd(002955) securities abbreviation: Hitevision Co.Ltd(002955) Announcement No.: 2022028 Hitevision Co.Ltd(002955)
Announcement on changes in accounting policies of the company
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.
Special tips:
This accounting policy change is a corresponding adjustment made by the company in accordance with the relevant provisions of the Ministry of finance, in line with the provisions of relevant laws and regulations and the actual situation of the company, will not have a significant impact on the company's financial status, operating results and cash flow, and will not damage the interests of the company and all shareholders.
Hitevision Co.Ltd(002955) (hereinafter referred to as "the company") held the 12th meeting of the second board of directors and the 8th meeting of the second board of supervisors on April 27, 2022, and deliberated and adopted the proposal on the change of accounting policies of the company. According to the relevant provisions of the Listing Rules of Shenzhen Stock Exchange and the self regulatory guidelines for listed companies of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board, the change of the company's accounting policy does not need to be submitted to the general meeting of shareholders for deliberation. The details are hereby announced as follows:
1、 Overview of changes in accounting policies
(I) reasons for changes in accounting policies
On February 2, 2021, the Ministry of Finance issued the notice on printing and distributing the interpretation of accounting standards for Business Enterprises No. 14 (CAI Kuai [2021] No. 1) (hereinafter referred to as "Interpretation No. 14"), which clarified the accounting treatment of the relevant social capital parties for the government and social capital cooperation (PPP) project contracts, and the accounting treatment of the change in the basis for determining the cash flow of relevant contracts caused by the reform of the benchmark interest rate.
On December 31, 2021, the Ministry of Finance issued the notice on printing and distributing the interpretation of accounting standards for Business Enterprises No. 15 (CAI Kuai [2021] No. 35) (hereinafter referred to as "Interpretation No. 15"), which defined 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 R & D, the judgment of loss contracts and the presentation of centralized fund management.
According to the above relevant standards interpretation and notice of the Ministry of finance, the company will implement the relevant requirements of the interpretation of accounting standards for Business Enterprises No. 14 from January 1, 2021 and the relevant requirements of the interpretation of accounting standards for Business Enterprises No. 15 from December 31, 2021.
(III) accounting policies adopted by the company 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 provisions issued by the Ministry of finance.
(IV) accounting policies adopted by the company after change
After this accounting policy change, the company will implement Interpretation No. 14 and Interpretation No. 15. In addition to the above changes, other unchanged parts of the company are still implemented in accordance with 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 provisions issued by the Ministry of Finance in the early stage.
(V) main contents of this accounting policy change
1. The main contents of the change of interpretation Document No. 14 include:
(1) Clarify the definition and characteristics of the applicable PPP project contract. It refers to the contract concluded between the social capital party and the government party on PPP project cooperation in accordance with laws and regulations. The contract shall comply with "dual characteristics" and "dual control" at the same time.
(2) If the social capital party provides multiple services (such as both asset construction services and operation and maintenance services after the completion of the PPP project) according to the PPP project contract, it shall identify the individual performance obligations in the contract in accordance with the accounting standards for Business Enterprises No. 14 - income, and apportion the transaction price to each performance obligation according to the relative proportion of the individual selling price of each performance obligation.
(3) The borrowing costs incurred in the construction of PPP project assets shall be accounted for by the social capital party in accordance with the accounting standards for Business Enterprises No. 17 - borrowing costs. For the part recognized as intangible assets in Item 4 below, the social capital party shall capitalize the relevant borrowing costs when they meet the capitalization conditions, and carry forward them to intangible assets when the PPP project assets reach the expected usable state. The borrowing costs that do not meet the capitalization conditions shall be expensed by the social capital party.
(4) According to the PPP project contract, the social capital party has the right to collect fees from the objects who obtain public goods and services during the operation of the project, but if the amount of fees is uncertain, this right does not constitute an unconditional right to receive cash. When the PPP project assets reach the expected usable state, the consideration amount of relevant PPP project assets or the recognized construction income amount shall be recognized as intangible assets; If the conditions for the right to receive cash (or other financial assets) of a determinable amount are met, the accounts receivable shall be recognized when the social capital party has the right to receive the consideration (the right only depends on the factors of time lapse), and the accounting treatment shall be carried out in accordance with the accounting standards for Business Enterprises No. 22 - recognition and measurement of financial instruments. The social capital party shall recognize the difference between the consideration amount of relevant PPP project assets or the recognized construction income amount and the cash (or other financial assets) entitled to receive a determinable amount as intangible assets when the PPP project assets reach the expected usable state.
2. Explain the main contents of the change in Document No. 15, including:
(1) Where an enterprise implements centralized and unified management of the funds of the parent company and member companies through internal settlement centers and financial companies in accordance with relevant laws and regulations, the member companies shall list the funds collected by the member companies into the accounts of the group's parent company in the "other receivables" item of the balance sheet, or according to the principle of importance and in combination with the actual situation of the enterprise, Add the item of "centralized management of funds receivable" above the item of "other receivables" and list it separately; The parent company shall be listed in the "other payables" item of the balance sheet. For the funds borrowed from the group's parent company account by the member unit, the member unit shall list them in the "other payables" item of the balance sheet; The parent company shall be listed in the "other receivables" item of the balance sheet.
(2) For the funds directly deposited into the financial company by the member unit that are not collected into the account of the group parent company, the member unit shall list them in the "monetary funds" item of the balance sheet. According to the principle of importance and in combination with the actual situation of the enterprise, the member unit can also add an item of "including: funds deposited into the financial company" under the "monetary funds" item for separate listing; The financial company shall be listed in the "deposit taking" item of the balance sheet. For the funds borrowed directly from the finance company without the account of the group parent company, the member unit shall list them in the "short-term loan" item of the balance sheet; The financial company shall list it in the item of "granting loans and advances" in the balance sheet.
(3) Where the centralized management of funds involves non current items, the enterprise shall also present them in current assets, non current assets, current liabilities and non current liabilities respectively in accordance with the requirements on liquidity presentation in the accounting standards for Business Enterprises No. 30 - presentation of financial statements.
(4) In the balance sheets of the group's parent company, member units and financial companies, except in accordance with the provisions on the offset of financial assets and financial liabilities in the accounting standards for Business Enterprises No. 37 - presentation of financial instruments, the items of financial assets and financial liabilities related to centralized fund management shall not offset each other.
(5) The enterprise shall disclose the fact that the enterprise implements centralized fund management in the notes, and list the amount and situation of the fund as "Monetary Fund", but the withdrawal is limited due to centralized fund management, as "Monetary Fund", the amount and situation of the fund deposited in the financial company, as well as the "other receivables", "funds receivable under centralized fund management", "other payables" and other reporting items related to centralized fund management Amount and impairment related information.
The term "financial company" as mentioned in this interpretation refers to a non bank financial institution that accepts the supervision and management of the CBRC according to law and provides financial management services to the member units of the enterprise group for the purpose of strengthening the centralized management of the enterprise group's funds and improving the efficiency of the use of the enterprise group's funds.
2、 Impact of changes in accounting policies on the company
This accounting policy change is a corresponding adjustment made by the company in accordance with the relevant provisions of the Ministry of finance, in line with the provisions of relevant laws and regulations and the actual situation of the company, will not have a significant impact on the company's financial status, operating results and cash flow, and will not damage the interests of the company and all shareholders.
3、 Explanation of the board of directors on the rationality of this accounting policy change
On April 27, 2022, the 12th meeting of the second board of directors of the company deliberated and adopted the proposal on the change of accounting policies of the company with 8 affirmative votes, 0 negative votes and 0 abstention votes.
The board of directors of the company believes that the accounting policy of the company is a reasonable change in accordance with the relevant provisions of the Ministry of finance, in line with the relevant provisions of the Ministry of finance, China Securities Regulatory Commission and Shenzhen Stock Exchange, can objectively and fairly reflect the financial status and operating results of the company, and there is no damage to the interests of shareholders, especially small and medium-sized shareholders. The board of directors of the company agrees with the change of accounting policy of the company.
4、 Opinions of the board of supervisors
On April 27, 2022, the eighth meeting of the second board of supervisors of the company deliberated and adopted the proposal on the change of accounting policies of the company with 3 affirmative votes, 0 negative votes and 0 abstention votes.
After review, the board of supervisors believes that the change of the company's accounting policy is a reasonable change according to the requirements of relevant documents of the Ministry of finance, in line with the relevant provisions of the Ministry of Finance and the actual situation of the company. The decision-making procedure of this accounting policy change complies with the relevant laws, regulations and the articles of association, and there is no damage to the interests of the company and all shareholders. The board of supervisors of the company agrees to this accounting policy change.
5、 Opinions of independent directors
After verification, the independent directors believe that the change of the company's accounting policy is a reasonable change in accordance with the requirements of relevant documents of the Ministry of finance, which is in line with relevant regulations and the actual situation of the company. The changed accounting policies can more objectively and fairly reflect the company's financial status and operating results. There are no legal rights and interests that damage the legitimate rights and interests of the company and all shareholders, especially the interests of minority shareholders. The procedures of this accounting policy change comply with the relevant provisions of the guidelines for self discipline supervision of listed companies of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board and the articles of association. Therefore, we unanimously agree to the proposal on the change of the company's accounting policies.
6、 Documents for future reference
1. Resolutions of the 12th meeting of the second board of directors;
2. Resolutions of the eighth meeting of the second board of supervisors;
3. Independent opinions of independent directors on matters related to the 12th meeting of the second board of directors of the company.
It is hereby announced.
Hitevision Co.Ltd(002955) board of directors April 28, 2022
