Securities code: Bright Oceans Inter-Telecom Corporation(600289) stock abbreviation: St Xintong Announcement No.: pro 2022034 Bright Oceans Inter-Telecom Corporation(600289)
Announcement on correction of major accounting errors in the previous period
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents. Important:
This error correction of the company involves the project data of some consolidated financial statements of the company in 2020, the first quarter of 2021, the half year of 2021 and the third quarter of 2021. It will not have an impact on the company’s total assets, net assets, total profits, net profits and net profits attributable to shareholders of listed companies, nor will it damage the interests of the company and shareholders.
1、 Overview
Affected by judicial freezing of bank accounts and loss of project personnel in previous years, the company failed to settle some projects in time. After the company’s production and operation were on track in 2021, in order to ensure that the company’s interests would not be lost, such projects were centrally settled, and recognized as revenue and carried forward relevant costs in 2021 according to the final settlement time of the project.
During the audit in 2021, after the company communicated with the accounting firm on this matter, it was adjusted to recognize relevant income and costs in the year when it reached the settleable status.
2、 Specific situation and impact on the company
1. Impact on financial position and operating results during the comparison period of 2020
Affected comparison period report item name adjustment opening amount of earlier period cumulative affected amount adjustment opening amount of later period
Accounts receivable 204389282831613756807536576496358
Inventory 6039077903 -5869444875452133416
Taxes payable 322217722613109042974533081523
Affected comparison period report item name adjustment opening amount of earlier period cumulative affected amount adjustment opening amount of later period
Contract liabilities 11285730724 – 64532822694832448455
Other current liabilities 809318461 -271037855538280606
Undistributed profit at the beginning of the year -16935745092217789194954 -151568255968
Main business income 52354262275399599637856350258653
Main business cost 21571135614930 China Vanke Co.Ltd(000002) 1664135614
Credit impairment loss -2717102230 -728151917 -3445254147
2. Impact on financial statements in the first quarter of 2021
Affected report item name amount before correction cumulative affected amount amount after correction
Accounts receivable 184864768651497905250433465529369
Other receivables 2434360154 -13646540081069706146
70,279094.48 -3,775107.21 66,503987.27
Taxes paid: 35262038212943180901646938472
Operating income 5779632798 -18929630873886669711
Operating cost 804295254 -209433766594861488
Contract liabilities 11069555197 – 56405094975429045700
Other current liabilities 584324350 -332776904251547446
Undistributed profit at the beginning of the year -7755752961219599385407 -57958144205
3. Impact on financial statements in the second quarter of 2021
Affected report item name amount before correction cumulative affected amount amount after correction
Accounts receivable 23847409738964142578733488835525
Other receivables 4369121865 -1364654008 Baoding Lucky Innovative Materials Co.Ltd(300446) 7857
Inventory Cybrid Technologies Inc(603212) 5124 -2199472395812177885
Taxes payable 10398992389140650171953964255
Operating income 20357005473 -883309207111523913402
Operating cost 8186703764 -3669972487819706516
Contract liabilities 10034106384 – 37852130256248893359
Other current liabilities 754891552 -205318036549573516
Affected report item name amount before correction cumulative affected amount amount after correction
Undistributed profit at the beginning of the year -7755752961219599385407 -57958144205
4. Impact on financial statements of the third quarter of 2021
Affected report item name amount before correction cumulative affected amount amount after correction
Accounts receivable 33669349829238381292536053162754
Other receivables 4273098792 -13646540082908444784
Inventory 7781210582 -1258945957655315987
Tax payable 10592221702979934121357215582
Operating income 35450640867 -1693702558518513615282
Operating cost 10834406130 -46104989210373356238
Contract liabilities 11974183025 – 24168287679557354258
Other current liabilities 776830663 -111310037665520626
Undistributed profit at the beginning of the year -7755752961219599385407 -57958144205
5. Impact of correction of accounting errors in the early stage on the company
The correction of accounting errors in the early stage has been deliberated and adopted at the 20th meeting of the 8th board of directors and the 11th meeting of the 8th board of supervisors.
This error correction of the company involves the project data of some consolidated financial statements of the company in 2020, the first quarter of 2021, the half year of 2021 and the third quarter of 2021. It will not have an impact on the company’s total assets, net assets, total profits, net profits and net profits attributable to shareholders of listed companies, nor will it damage the interests of the company and shareholders.
3、 Concluding observations of independent directors, board of supervisors and accounting firms
(I) opinions of independent directors
We believe that the correction of this accounting error complies with the relevant provisions of the accounting standards for business enterprises and 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, conforms to the actual operation and financial status of the company, improves the quality of the company’s accounting information, and objectively and fairly reflects the financial status of the company. The deliberation and voting procedures of the board of directors on the error correction comply with the provisions of laws, regulations, the articles of association and other relevant systems. The adjustment and correction do not harm the interests of shareholders, and agree to the accounting error correction.
(II) opinions of the board of supervisors
The board of supervisors believes that the correction of accounting errors of the company complies with the relevant provisions of the accounting standards for business enterprises and truly reflects the financial situation of the company. The deliberation and voting procedures of the correction of accounting errors comply with the relevant provisions of laws, regulations and the articles of association. We agree with the correction of accounting errors. At the same time, the company should further strengthen internal control and financial management, strengthen the training and supervision of relevant personnel, improve the level of financial management, avoid similar problems and effectively safeguard the interests of the company and investors.
(III) opinions of accounting firm
Dahua Certified Public Accountants (special general partnership), which provided annual audit services for the company, verified the correction of major accounting errors in the early stage, issued the special instructions for correction of major accounting errors in Bright Oceans Inter-Telecom Corporation(600289) early stage (dahuahe Zi [2022] No. 008297), and confirmed the correction of accounting errors.
4、 Online announcement attachment
(I) independent opinions of independent directors on matters related to the 20th meeting of the eighth board of directors;
(II) announcement of the resolutions of the 11th meeting of the 8th board of supervisors;
(III) special instructions for correction of major accounting errors in Bright Oceans Inter-Telecom Corporation(600289) earlier period of Dahua Certified Public Accountants (special general partnership).
It is hereby announced.
Bright Oceans Inter-Telecom Corporation(600289) board of directors April 29, 2022
