Securities code: Fujian Snowman Co.Ltd(002639) securities abbreviation: Fujian Snowman Co.Ltd(002639) Announcement No.: 2022024
Announcement on provision for impairment and write off of assets in 2021
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.
Fujian Snowman Co.Ltd(002639) (hereinafter referred to as "the company") was held on April 27, 2022
At the second meeting of the 5th board of directors and the second meeting of the 5th board of supervisors, the proposal on the provision for impairment and write off of assets in 2021 was considered and adopted. The details are announced as follows: I. overview of the provision for impairment and write off of assets this time
(I) provision for asset impairment
1. Reasons for withdrawing impairment provision this time
In order to fairly and objectively reflect the company's financial situation, asset value and operating results, based on the principle of prudence, in accordance with the stock listing rules of Shenzhen Stock Exchange, enterprise accounting system and the company's accounting policies
According to relevant regulations, the company has fully cleared the assets within the scope of the consolidated statements as of December 31, 2021
Check, analyze and evaluate, prudently judge the net realizable value of various assets and the recoverability of funds, and withdraw credit and asset impairment reserves for relevant assets that may have impairment losses.
2. Asset scope, total amount and reporting period of the current provision for impairment
The reporting period for the provision for impairment is from January 1, 2021 to December 31, 2021
Day. The company's assets impaired at the end of 2021 include accounts receivable, inventories, contract assets, goodwill, assets held for sale and intangible assets. The amount of impairment provision withdrawn in 2021 is 6162816937 yuan, which has been audited by Dahua Certified Public Accountants (special general partnership). The details are as follows:
Unit: Yuan
The proportion of the current provision of the project in the absolute value of the audited net profit attributable to the shareholders of the listed company in 2021
1、 Provision for credit impairment 3062425275 27.03%
1. Bad debt reserves 3062425275 27.03%
Including: accounts receivable 2476605291 21.86%
Other receivables 598601474 5.28%
Notes receivable -12781490 -0.11%
2、 Provision for asset impairment 3100391662 27.37%
1. Inventory falling price reserves 5290190 4.67%
2. Provision for impairment of contract assets 567001911 5.01%
3. Provision for impairment of goodwill 1231879883 10.87%
4. Provision for impairment of assets held for sale 638337603 5.63%
5. Provision for impairment of intangible assets 134082075 1.18%
Total 61546237%
(II) write off assets
The company has written off some accounts receivable that cannot be recovered. The total assets written off this time are 22461000 yuan.
2、 Specific description of the current provision for impairment
1. Provision for impairment of receivables and contract assets
The company shall separately determine the credit loss of notes receivable, accounts receivable, other receivables and contract assets with significant single amount and credit impairment after initial recognition.
When there is no sufficient evidence to evaluate the expected credit loss at a reasonable cost at the level of single instrument, the company refers to the experience of historical credit loss, combined with the current situation and the judgment of future economic conditions, divides the accounts receivable into several combinations according to the characteristics of credit risk, and calculates the expected credit loss on the basis of the combination. The basis for determining the combination is as follows:
Combination name: basis for determining combination and accrual method
For the accounts receivable of related parties included in the consolidation scope of risk-free portfolio, refer to the experience of historical credit loss, and measure the bad debt provision in combination with the current situation and the expectation of future economic conditions
The combination of aging analysis method includes accounts receivable other than the above combination, which are withdrawn according to the comparison table of aging and expected credit loss rate throughout the duration
According to the above methods, the company made provision for impairment of receivables of 3062425275 yuan in 2021,
Accounting for 27.03% of the company's audited net profit attributable to shareholders of Listed Companies in 2021. Including: provision for impairment of notes receivable -12781490 yuan, provision for impairment of accounts receivable 2476605291 yuan and provision for impairment of other receivables 598601474 yuan;
According to the above methods, the company made provision for impairment of contract assets of 567001911 yuan in 2021, accounting for
The proportion of the absolute value of the company's audited net profit attributable to the shareholders of the listed company in 2021 is 5.01%.
After a comprehensive inventory of inventories at the end of the period, the inventory falling price reserves shall be withdrawn or adjusted according to the lower of the inventory cost and net realizable value. 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.
If the factors affecting the previous write down of inventory value have disappeared, the amount of write down shall be restored and reversed within the amount of inventory falling price reserve originally withdrawn, and the reversed amount shall be included in the current profit and loss.
According to the above methods, according to the inventory balance at the end of the period, the company accrues the inventory falling price reserve for the difference between the net realizable value and the inventory cost. In 2021, the inventory falling price reserve is 5290190 yuan, accounting for 4.67% of the absolute value of the audited net profit attributable to the shareholders of the listed company in 2021.
3. Provision for impairment of goodwill
According to the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, the goodwill separately listed in the financial statements, whether there is any sign of impairment or not, shall be tested for impairment every year. In the impairment test of goodwill, the book value of goodwill shall be allocated to the asset group or combination of asset groups expected to benefit from the synergy of business combination. If there are impairment signs in the asset portfolio, or if there are no impairment signs in the asset portfolio, the asset portfolio related to the impairment group shall be measured and compared with the asset portfolio, or the asset portfolio related to the impairment group shall be measured first. Then carry out impairment test on the asset group or combination of asset groups containing goodwill, and compare the book value of these relevant asset groups or combination of asset groups (including the book value of the apportioned goodwill) with their recoverable amount. If the recoverable amount of relevant asset groups or combination of asset groups is lower than its book value, the impairment loss of goodwill shall be recognized.
The company hired Beijing Tianjian Xingye Assets Appraisal Co., Ltd. to issue the appraisal report of Tianxing pingbao Zi (2022) No. 0610 on the merger of the company with Sichuan Jiayun oil and Gas Technology Service Co., Ltd. Based on the appraisal report of Fujian Snowman Engineering Co., Ltd. hired by Beijing Tianjian Xingye Asset Appraisal Co., Ltd. in 2020, the company conducted goodwill impairment test on Fujian Snowman Engineering Co., Ltd.
After testing, Sichuan Jiayun oil and Gas Technology Service Co., Ltd. confirmed the impairment provision of 542183354 yuan and Fujian Snowman Engineering Co., Ltd. confirmed the impairment provision of 6896529 yuan. The total goodwill impairment loss is 1231879883 yuan, accounting for 10.87% of the absolute value of the company's audited net profit attributable to the shareholders of the listed company in 2021.
4. Provision for impairment of assets held for sale
The original book value of Zhaoqing Heping refrigeration parts Co., Ltd. held by the company for sale is 1260799575 yuan. At the end of 2021, according to the liquidation audit report of "zhaozhengdezhuanzi [2019] No. 054" issued by Zhaoqing Zhengde certified public accountants Co., Ltd., the company confirmed that the book value of assets held for sale Zhaoqing Heping refrigeration parts Co., Ltd. was 622461972 yuan, and the provision for impairment was 638337603 yuan. Accounting for 5.63% of the absolute value of the company's audited net profit attributable to the shareholders of the listed company in 2021.
5. Provision for impairment of intangible assets
For the intangible assets that show signs of impairment on the balance sheet date, the company shall withdraw the corresponding impairment provision according to the difference between the book value and the recoverable amount, and withdraw the impairment provision of intangible assets of RMB 134082075 in 2021. Accounting for 1.18% of the absolute value of the company's audited net profit attributable to the shareholders of the listed company in 2021.
3、 The impact of the current provision for impairment and write off of assets on the company
In 2021, the company made an impairment provision of 6162816937 yuan, which had an impact on the net profit attributable to the shareholders of the listed company in 2021 of -6162816937 yuan. The relevant impairment loss accounted for 54.50% of the absolute value of the audited net profit attributable to the shareholders of the listed company in 2021. The amount of written off assets is 22461000 yuan, and the provision for impairment of written off assets has been fully withdrawn, which has no impact on the net profit.
4、 Description of the performed approval procedures and rationality
The provision for impairment and write off of assets have been deliberated and approved at the second meeting of the Fifth Board of directors and the second meeting of the Fifth Board of supervisors. The board of directors of the company believes that the provision for impairment and write off of assets comply with the provisions of the accounting standards for business enterprises and relevant accounting policies of the company and are made based on the principle of prudence. The provision for impairment can more fairly reflect the company's asset status and make the company's accounting information about asset value more authentic, reliable and reasonable.
According to the guidelines for the standardized operation of listed companies of Shenzhen Stock Exchange and other relevant provisions, this matter does not need to be submitted to the general meeting of shareholders for deliberation.
5、 Opinion of the board of Auditors
The Audit Committee believes that the provision for credit and asset impairment and write off of assets this time comply with and comply with the accounting standards for business enterprises and relevant accounting policies of the company, and are made based on the principle of prudence after asset impairment test. After the provision for asset impairment is made, the company's financial statements can more fairly reflect the company's financial status, asset value and operating results, making the company's accounting information more reasonable. Therefore, we have no objection to this matter.
6、 Opinions of the board of supervisors
After review, the board of supervisors held that: in accordance with the accounting standards for business enterprises, the Listing Rules of Shenzhen Stock Exchange and other relevant provisions, we carefully checked the provision for impairment and write off of assets this time, and considered that the basis for the provision for impairment and write off of assets this time was sufficient, in line with the provisions of the accounting standards for business enterprises and relevant systems of the company, and in line with the actual situation of the company
