Guangdong Great River Smarter Logistics Co.Ltd(002930) 2021
audit report
Zhitong Certified Public Accountants (special general partnership)
catalogue
Audit report 1-4
Consolidated and company balance sheet 1-2
Consolidated and corporate income statement 3
Consolidated and company cash flow statement 4
Consolidated and statement of changes in shareholders' equity 5-8
Notes to financial statements 9-97
Zhitong Certified Public Accountants (special general partnership), 5th floor, set square, No. 22, Jianguomenwai street, Chaoyang District, Beijing, China, 100004
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audit report
Zhi Tong Shen Zi (2022) No. 441a013588 Guangdong Great River Smarter Logistics Co.Ltd(002930) all shareholders:
1、 Audit opinion
We have audited the financial statements of Guangdong Great River Smarter Logistics Co.Ltd(002930) (hereinafter referred to as Guangdong Great River Smarter Logistics Co.Ltd(002930) company), including the consolidated and company's balance sheet as of December 31, 2021, the consolidated and company's income statement, consolidated and company's cash flow statement, consolidated and company's statement of changes in shareholders' equity and notes to relevant financial statements in 2021. In our opinion, the attached financial statements are prepared in accordance with the provisions of the accounting standards for business enterprises in all material aspects and fairly reflect the consolidated and financial position of Guangdong Great River Smarter Logistics Co.Ltd(002930) company as of December 31, 2021 and the consolidated and operating results and cash flow of the company in 2021.
2、 Basis for forming audit opinions
We conducted our audit in accordance with the auditing standards for Chinese certified public accountants. The "responsibilities of certified public accountants for the audit of financial statements" in the audit report further expounds our responsibilities under these standards. In accordance with the code of professional ethics for Chinese certified public accountants, we are independent of Guangdong Great River Smarter Logistics Co.Ltd(002930) company and have fulfilled other responsibilities in terms of professional ethics. We believe that the audit evidence we have obtained is sufficient and appropriate, which provides a basis for our audit opinion.
3、 Key audit matters
The key audit matters are the most important matters that we consider to audit the current financial statements according to our professional judgment. The response to these matters is based on the overall audit of the financial statements and the formation of audit opinions. We will not express separate opinions on these matters.
(I) impairment of goodwill
See notes III and 19 and notes V and 15 to the financial statements for relevant information.
1. Item description
On December 31, 2021, the book balance of goodwill of Guangdong Great River Smarter Logistics Co.Ltd(002930) company was 327267100 yuan, the balance of provision for impairment of goodwill was 2750600 yuan, and the book value of goodwill accounted for 4.35% of total assets.
The goodwill impairment test is based on the recoverable amount of the asset group containing goodwill. For the asset group that can reliably provide future business forecast data, the recoverable amount is the present value of the expected future cash flow of the asset group. The management has made significant judgments and estimates when determining the recoverable amount of the asset group. The key assumptions and parameters used in the calculation of the present value of the expected future cash flow include the income in the forecast period, gross profit margin, sustainable growth rate and discount rate. As the amount of goodwill is significant and requires significant judgment by the management, we determine the impairment of goodwill as a key audit event.
2. Audit response
Our main audit procedures for goodwill impairment include:
(1) Understand and evaluate the design effectiveness of internal control related to goodwill impairment test, and test the operation effectiveness of key internal control, including the review and approval of key assumptions and impairment provision amount;
(2) Evaluate the competence, professional quality and objectivity of the appraisers employed by the management in the impairment test, discuss the identification of the asset group with the appraisers, and review the selection of valuation methods and key parameters;
(3) Compare the forecast data of relevant asset groups in previous years with the actual data of the current period to evaluate the reliability of the management's cash flow forecast;
(4) Use the work of Certified Public Accountants' experts to review the appropriateness of valuation methods and analyze the rationality of key assumptions and parameters such as expected income growth rate, gross profit rate, expense rate and discount rate used to calculate goodwill impairment; (5) Recheck the rationality of the forecast of future cash flow and recalculate the present value of future cash flow.
(II) recognition of comprehensive warehousing service income
See notes III, 25 and V, 41 of the financial statements for relevant information disclosure.
1. Item description
In 2021, the Guangdong Great River Smarter Logistics Co.Ltd(002930) operating income was 1087962900 yuan, including the income from comprehensive warehousing services
10216962 million yuan, accounting for 95.77% of the main business income. The income from comprehensive warehousing services includes rent and operating expenses. Due to the large amount of Guangdong Great River Smarter Logistics Co.Ltd(002930) warehousing comprehensive service revenue and being a key performance indicator, we identified the recognition of warehousing comprehensive service revenue as a key audit matter.
2. Audit response
Our main audit procedures for the recognition of comprehensive warehousing service revenue include:
(1) Understand the internal control related to comprehensive warehousing services, evaluate its design effectiveness, and test the operation effectiveness of key internal controls;
(2) Analyze the contract terms of comprehensive warehousing service revenue to evaluate whether the revenue recognition policy of comprehensive warehousing service complies with the provisions of accounting standards for business enterprises;
(3) Select samples to check the supporting documents related to revenue recognition, including contract, unloading power of attorney, goods warehousing operation sheet, goods measurement certificate, customer bill of lading, warehouse out operation sheet, invoice and payment request letter, so as to evaluate the authenticity of comprehensive warehousing service revenue;
(4) Carry out analytical procedures for revenue and cost in combination with business types, analyze the change of gross profit margin, review the rationality of revenue, obtain the flow of customers' warehousing operations, review the rental rate data, and analyze the matching between the change and revenue from the aspects of storage capacity, annual average unit price, rental rate, throughput and other operating data;
(5) According to the characteristics and nature of customer transactions, select samples to implement the letter confirmation procedure to confirm the balance of accounts receivable and the amount of income;
(6) For the comprehensive warehousing service revenue recognized before and after the balance sheet date, select a sample and check the relevant documents of revenue recognition to evaluate whether the revenue is recognized in an appropriate period.
4、 Other information
Guangdong Great River Smarter Logistics Co.Ltd(002930) the management of the company (hereinafter referred to as the management) is responsible for other information. Other information includes the information covered in the 2021 annual report of Guangdong Great River Smarter Logistics Co.Ltd(002930) company, but does not include the financial statements and our audit report. Our audit opinion on the financial statements does not cover other information, and we will not issue any form of assurance conclusion on other information.
In combination with our audit of the financial statements, our responsibility is to read other information and consider whether other information is materially inconsistent with the financial statements or the information we have learned in the audit process, or there seems to be material misstatement.
Based on the work we have performed, if we determine that there is a material misstatement in other information, we should report that fact. In this regard, we have nothing to report.
5、 Responsibilities of management and governance for financial statements
Guangdong Great River Smarter Logistics Co.Ltd(002930) the management of the company is responsible for preparing the financial statements in accordance with the provisions of the accounting standards for business enterprises to achieve a fair reflection, and designing, implementing and maintaining necessary internal control so that the financial statements are free from material misstatement caused by fraud or error.
When preparing the financial statements, the management is responsible for evaluating the going concern ability of Guangdong Great River Smarter Logistics Co.Ltd(002930) company, disclosing matters related to going concern (if applicable), and applying the going concern assumption, unless the management plans to liquidate Guangdong Great River Smarter Logistics Co.Ltd(002930) company, terminate operation or have no other realistic choice.
The management is responsible for supervising the financial reporting process of Guangdong Great River Smarter Logistics Co.Ltd(002930) company.
6、 Responsibilities of certified public accountants for the audit of financial statements
Our goal is to obtain reasonable assurance on whether the financial statements as a whole are free from material misstatement due to fraud or error, and issue an audit report containing audit opinions. Reasonable assurance is a high-level assurance, but it does not guarantee that the audit performed in accordance with the audit standards will always be found when a major misstatement exists. Misstatement may be caused by fraud or error. If it is reasonably expected that the misstatement alone or in summary may affect the economic decisions made by the users of the financial statements based on the financial statements, the misstatement is generally considered to be significant.
In the process of carrying out the audit work in accordance with the audit standards, we use professional judgment and maintain professional doubt. At the same time, we also carry out the following work:
(1) Identify and assess the risks of material misstatement of financial statements due to fraud or error, design and implement audit procedures to deal with these risks, and obtain sufficient and appropriate audit evidence as the basis for issuing audit opinions. Since fraud may involve collusion, forgery, intentional omission, misrepresentation or override of internal control, the risk of failing to find major misstatement caused by fraud is higher than that caused by error.
(2) Understand the internal control related to audit to design appropriate audit procedures.
(3) Evaluate the appropriateness of accounting policies selected by the management and the rationality of accounting estimates and related disclosures.
(4) Draw conclusions on the appropriateness of management's use of going concern assumptions. At the same time, according to the audit evidence obtained, draw a conclusion on whether there are major uncertainties in the matters or circumstances that may lead to major doubts about the going concern ability of Guangdong Great River Smarter Logistics Co.Ltd(002930) company. If we conclude that there is significant uncertainty, the auditing standards require us to draw the attention of statement users to the relevant disclosures in the financial statements in the audit report; If the disclosure is insufficient, we should express a non unqualified opinion. Our conclusions are based on the information available as of the date of the audit report. However, future events or circumstances may cause Guangdong Great River Smarter Logistics Co.Ltd(002930) company to be unable to continue its business.
(5) Evaluate the overall presentation, structure and content of the financial statements, and evaluate whether the financial statements fairly reflect relevant transactions and events.
(6) Obtain sufficient and appropriate audit evidence on the financial information of entities or business activities in Guangdong Great River Smarter Logistics Co.Ltd(002930) company to express an opinion on the financial statements. We are responsible for guiding, supervising and implementing the group audit, and take full responsibility for the audit opinions.
We communicated with the management on the planned audit scope, schedule and major audit findings, including the internal control defects that we identified in the audit.
We also provide a statement to the management that we have complied with the professional ethics requirements related to independence, and communicate with the management all relationships and other matters that may reasonably be considered to affect our independence, as well as relevant preventive measures.
From the matters communicated with the management, we determine which matters are the most important for the audit of the current financial statements, thus constituting key audit matters. We describe these matters in the audit report, unless laws and regulations prohibit the public disclosure of these matters, or in rare cases, if the negative consequences of communicating a matter in the audit report are reasonably expected to exceed the benefits in the public interest, we determine that we should not communicate the matter in the audit report. Zhitong Certified Public Accountants (special general partnership) Chinese Certified Public Accountants:
(project partner) Xing xiangzong
Chinese certified public accountant:
Shu Zhicheng
Beijing, China
April 27, 2002
Consolidated balance sheet and company
