Jiangsu Huasheng Tianlong Photoeletric Co.Ltd(300029)
Special instructions on correction of accounting errors in the previous period
1、 Description of the nature and reasons for the correction of accounting errors by the board of directors and management of the company
On April 28, 2022, the 13th meeting of the 5th board of directors of the company deliberated and approved the proposal on correction of accounting errors in the early stage. According to the resolution of the board of directors, the company adjusted the relevant accounting errors in the process of reviewing the financial data in the early stage by fully referring to the relevant provisions of the accounting standards for business enterprises and rechecking and proofreading the financial data. The details are as follows: 1 Correction of accounting errors in the early stage of share based payment
In 2020, the company formulated an equity incentive plan, which is as follows:
(1) The number of the first batch of vested shares is 5% of the total granted shares, and the waiting period is from December 21, 2020 to December 20, 2021. The performance assessment target is that the operating income in 2020 is not less than 100 million yuan.
(2) The number of the second batch of vested shares is 45% of the total granted shares, and the waiting period is from December 21, 2020 to December 20, 2022. The performance assessment target is that the operating revenue in 2021 is not less than 300 million yuan and the net profit is not less than 30 million yuan.
(3) The number of the third batch of vested shares is 50% of the total granted shares, and the waiting period is from December 21, 2020 to December 20, 2023. The performance evaluation target is that the operating revenue in 2022 is not less than 45 million yuan and the net profit is not less than 45 million yuan.
At the end of 2020, the company expects that Liang Yuqing, one of the middle managers and core technologies in the future, will leave, and the number of shares awarded is 170000. As of December 31, 2020, the waiting time has been 11 days. Therefore, the basis of the company in 2020: the number of rights per person the number of people exercising rights in the future period estimated at the end of 2020 the fair value of the grant date the length of the waiting period that has passed / the length of the whole waiting period = (1278 Shenzhen China Bicycle Company (Holdings) Limited(000017) 0000) 6.12 11 / (365 3) = 77525589 yuan. Therefore, in 2020, the company recognized management expenses and capital reserve of 77525589 yuan.
Since the grant of shares in batches is not considered to belong to multiple independent equity incentive plans, the cost and equity amount to be recognized are:
(1) The fair value of the shares on the grant date shall be 5.23 yuan of the closing price of the shares on the grant date minus 2.96 yuan of the grant price = 2.27 yuan;
(2) Among the core technologies, Liang Yuqing is expected to leave, and the number of granted shares is confirmed as 250000;
(3) The expenses to be recognized in the first batch of equity incentive plans = 2.27 (1278 Shenzhen Tellus Holding Co.Ltd(000025) 0000) 5% 11 / 365 = 4285947 yuan;
(4) Expenses to be recognized in the second batch of equity incentive plan = 2.27 (1278 Shenzhen Tellus Holding Co.Ltd(000025) 0000) 45% 11 / (365 2) = 19286760 yuan;
(5) The expenses to be recognized in the third equity incentive plan = 2.27 (1278 Shenzhen Tellus Holding Co.Ltd(000025) 0000) 50% 11 / (365 3) = 14286489 yuan;
As of December 31, 2020, the book value of the enterprise shall recognize the capital reserve and the corresponding management expenses of 37859195 yuan; The management expenses and capital reserve in 2020 shall be retroactively reduced by 39666394 yuan and 39666394 yuan through the correction of accounting errors in the early stage.
2. Correction of intertemporal errors in revenue and cost
For some new energy power station construction projects and new energy power station operation and maintenance projects in 2020, for the operation and maintenance work that has completed the project construction and obtained the project settlement sheet or has been performed, the consolidated financial data in 2020 are adjusted as follows: increase the main business income by 893512178 yuan, increase the main business cost by 873044027 yuan, increase the accounts receivable by 52216942 yuan, decrease the inventory by 899718192 yuan Contract liabilities decreased by 844250912 yuan, accounts payable decreased by 26674165 yuan and taxes payable increased by 2955676 yuan.
3. Correction of intertemporal errors in employee compensation
Since the company calculated the salary of the last month in the next month in previous years, the salary of the current December was not estimated and calculated at the end of the year, resulting in the cross period of employee salary cost. The retroactive adjustment through the correction of previous accounting errors is as follows:
(1) Retroactively adjust the financial data of the merger and parent company in 2020 as follows: the consolidated financial statements increase the employee salary payable by 124421176 yuan, the operating cost by 23932318 yuan, the sales expense by 963882 yuan and the management expense by 58468919 yuan; In the financial statements of the parent company, the employee salary payable was increased by 88350649 yuan, the sales expense was increased by 963882 yuan, and the management expense was increased by 46330710 yuan;
(2) Retroactively adjust the financial data of the merger and parent company in 2019 as follows: the consolidated financial statements increase the employee salary payable by 41056057 yuan, reduce the operating cost by 4494543 yuan, increase the sales expense by 3467988 yuan and reduce the management expense by 20711788 yuan; The financial statements of the parent company increased the payroll payable by 41056057 yuan, reduced the operating cost by 4494543 yuan, increased the sales expense by 3467988 yuan and reduced the management expense by 20711788 yuan;
(3) Retroactively adjust the financial data of the consolidated and parent company in 2018 as follows: the consolidated financial statements increase the employee salary payable by 62794400 yuan, increase the operating cost by 3284361 yuan, reduce the sales expense by 2180822 yuan and reduce the management expense by 32622859 yuan; In the financial statements of the parent company, the employee salary payable is increased by 62794400 yuan, the operating cost is increased by 3284361 yuan, the sales expense is reduced by 2180822 yuan and the management expense is reduced by 32622859 yuan;
4. Correction of errors that the goods issued in the previous period have met the recognition of income
On July 22, 2012, the company signed the equipment procurement and supply agreement with Inner Mongolia Fengwei Photovoltaic Technology Co., Ltd,
The agreement sells 21 polysilicon ingot furnaces with a unit price of 2.228 million yuan, 55 direct pull silicon single crystal furnaces with a unit price of 1.2725 million yuan and a total contract price of 1167755 million yuan. On August 1, 2012, Inner Mongolia Fengwei Photovoltaic Technology Co., Ltd. paid the contract advance of 10 million yuan by means of bank acceptance bill.
On January 7, 2013, the company delivered 21 polysilicon ingot furnaces to Inner Mongolia Fengwei Photovoltaic Technology Co., Ltd. and received the other party’s signature. On June 11, 2014, the company signed the supplementary agreement on equipment procurement and supply agreement (II) with Inner Mongolia Fengwei Photovoltaic Technology Co., Ltd. the agreement agreed that according to the actual situation, the contract procurement quantity was adjusted to 5 polysilicon ingot furnaces, the unit price was adjusted to 2 million yuan, and 10 million yuan paid by the purchaser was used as the payment for the 5 equipment. In addition, 16 polysilicon ingot furnaces that have been delivered to the purchaser shall be transported by the purchaser to the supplier within five days after the signing of this change agreement, and the freight shall be borne by the purchaser. If the company finds that the transaction has met the revenue recognition conditions during the self inspection and clearing of the previous financial data, it shall be retroactively adjusted through the correction of previous accounting errors as follows:
(1) Retroactively adjust the financial data of the consolidated and parent company in 2020 as follows: the consolidated financial statements reduce inventory by 420605992 yuan, reduce contract liabilities by 1000000000 yuan, increase taxes payable by 126548672 yuan and increase undistributed profits by 452845336 yuan; The parent company’s financial statements increased and decreased inventories by 420605992 yuan, contract liabilities by 1000000000 yuan, taxes payable by 126548672 yuan and undistributed profits by 452845336 yuan;
(2) Retroactively adjust the financial data of the consolidated and parent company in 2019 as follows: the consolidated financial statements reduce inventories by 420605992 yuan, reduce advances received by 1000000000 yuan, increase taxes payable by 126548672 yuan and increase undistributed profits by 452845336 yuan; The parent company’s financial statements increased and decreased inventories by 420605992 yuan, decreased advances received by 1000000000 yuan, increased taxes payable by 126548672 yuan and increased undistributed profits by 452845336 yuan;
(2) Retroactively adjust the financial data of the consolidated and parent company in 2018 as follows: in the consolidated financial statements, reduce the inventory by 420605992 yuan, reduce the advance receipt by 1000000000 yuan, increase the tax payable by 126548672 yuan and increase the undistributed profit by 452845336 yuan; The parent company’s financial statements increased and decreased inventories by 420605992 yuan, decreased advances received by 1000000000 yuan, increased taxes payable by 126548672 yuan and increased undistributed profits by 452845336 yuan; 2、 Impact of correction of accounting errors in the early stage on the company’s financial status and operating results
The company adopts the retrospective restatement method to correct the above previous accounting errors, and the affected financial statement items and amounts are listed as follows:
(I) impact on financial statement items and amounts in 2020
1. Impact on consolidated balance sheet
Unit: RMB (the same below)
Consolidated balance sheet adjustment top note after adjustment
Accounts receivable 9889178182522169429941395124 inventory 3864265292 -13203241842543941108 total current liabilities 14800472595 -126810724213532365353 total assets 22080792085 -126810724220812684843 accounts payable 9901466256 – 266,7 41.659874792091 contract liabilities 5554633982 -18442509123710383070 payroll payable 12598282124421176137019458 taxes payable 615790174129504348745294522 total current liabilities 20639141311 -161699955319022141758 total liabilities 206,39731907 -161699955319022732354 capital reserve 83527144119 -3966639483487477725 undistributed profits -104627097368389772526 -104237324842 total shareholders’ equity attributable to the parent company 14568173683501061321806923500 minority shareholders’ equity -15757190 -1213821 – 16971011 shareholders Total equity 14410601783488923111789952489
2. Impact on the balance sheet of the parent company
Top note before balance sheet adjustment and after adjustment
Inventory 717336461 -420605992296730469 total current assets 2131100047 -4206059921710494055
