Securities code: Shenzhen Changfang Group Co.Ltd(300301) securities abbreviation: Shenzhen Changfang Group Co.Ltd(300301) Announcement No.: 2022026
Shenzhen Changfang Group Co.Ltd(300301)
Announcement on the provision for asset impairment in 2021
The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without falsity
Records, misleading statements or material omissions.
Shenzhen Changfang Group Co.Ltd(300301) (hereinafter referred to as "the company") was called on April 29, 2022
At the 20th meeting of the 4th board of directors and the 12th meeting of the 4th board of supervisors, the
The relevant information is hereby announced as follows:
1、 Overview of the provision for asset impairment this time
(I) reasons for withdrawing asset impairment provision this time
In order to truly reflect the company's financial situation and operating results, based on the principle of prudence and in accordance with the accounting standards for business enterprises
According to the relevant provisions of the company's financial system, the company has all kinds of accounts receivable and long-term accounts receivable at the end of 2021
Accounts, inventories, fixed assets, long-term equity investment, construction in progress, intangible assets, goodwill and other assets are analyzed
Through comprehensive inventory, the possibility of impairment of various assets and the net realizable value of various inventories are fully investigated
Evaluation and analysis.
(II) asset scope and total amount of the current provision for asset impairment
The company's assets with possible signs of impairment at the end of 2021 (including receivables and
After a comprehensive inventory of inventories and goodwill) and asset impairment test, various impairment reserves in 2021 are accrued
The total is 26112792987 yuan, as shown in the table below:
Decrease in current year
The beginning balance of the project is withdrawn in the current year. Other changes in the ending balance are reversed or written off
Bad debt provision for accounts receivable 149239556721052444318230 Ping An Bank Co.Ltd(000001) 48799858017234398570
Bad debt provision for other accounts receivable 643355294542142143112976760 -165 Shenzhen Ecobeauty Co.Ltd(000010) 70870677
Bad debt provision for notes receivable 57219105721910 0.00
Long term receivables 35174371181253373319 -14879985803282811857
Inventory falling price reserves 2810414679473325176243818896923161776749
Provision for impairment of fixed assets 5268666525399678922410295207938235934956
Goodwill impairment provision 234539522081488389531438337847522
Total 50623503406264618960805760109155 -1650 Hefei Fengle Seed Co.Ltd(000713) 23640331
2、 Provision for impairment of assets
(I) the recognition standard and withdrawal method of loss provision for accounts receivable are as follows:
For accounts receivable, regardless of whether it contains major financing components or not, the company has always been equivalent to the whole deposit
The amount of expected credit loss in the renewal period shall be used to measure the loss reserves, and the resulting increase or reversal of loss reserves
The amount shall be included in the current profit and loss as impairment loss or gain.
The company combines the accounts receivable according to similar credit risk characteristics, and based on all reasonable and evidence-based
According to the information, including forward-looking information, calculate the expected credit loss of the accounts receivable portfolio and determine the value of the portfolio
The basis and expected credit loss accrual method are as follows:
1. Accounts receivable with significant single amount
Recognition criteria for receivables with significant single amount and single withdrawal of expected credit loss:
The amount of accounts receivable is more than 5 million yuan
Accrual method of expected credit loss of accounts receivable with significant single amount: the expected credit loss of the single combination
The loss is the difference between the contract cash flow to be received and the expected cash flow to be received during the whole renewal period.
If there is insufficient objective evidence in the independent test, it shall be included in the aging portfolio to accrue the expected credit loss.
2. Accounts receivable with loss reserves withdrawn according to the combination of credit risk characteristics
(1) Basis for determining the combination of credit risk characteristics
For receivables with insignificant single amount, it is different from those with significant single amount that has not been impaired after separate test
Receivables are divided into several combinations according to the characteristics of credit risk, which have similar credit risk with them according to previous years
The accrued loss is determined based on the actual loss rate of the receivables portfolio with risk characteristics and combined with the current situation
prepare
Basis for determining combination:
Combination name: basis for determining combination
Combination 1: the aging branch makes the latest adjustment on the accrual proportion of receivables based on previous historical experience
According to the best combination estimation, the credit risk combination is classified with reference to the aging of accounts receivable.
Combination 2: according to the nature of business, the special wind is determined to have no credit risk, including receivables from government departments
Insurance portfolio funds, export tax rebates receivable, receivables within the scope of consolidation, etc. are generally not withdrawn
Provision for loss, unless there is objective evidence that it has been impaired.
(2) Withdrawal method determined according to the combination of credit risk characteristics
① Using combination 1: aging analysis method to withdraw loss reserves
Aging expected credit loss rate (%)
Within 1 year 3.00
1-2 years 20.00
2-3 years 50.00
More than 3 years 100.00
② Using combination 2: special risk method to withdraw loss reserves
Portfolio name expected credit loss rate (%)
Special risk portfolio 0.00
3. The individual amount is not significant, but the expected credit loss is withdrawn individually
The reason for single provision for loss is that there is objective evidence that the company will not be able to recover the amount according to the original terms of accounts receivable.
The accrual method of expected credit loss is: the expected credit loss of the single combination is the difference between the contract cash flow to be received and the expected cash flow to be received during the whole renewal period. If objective evidence is found to be insufficient through independent test, it shall be included in the aging portfolio to accrue the expected credit loss
（2） The recognition standard and withdrawal method of loss provision for other receivables are as follows:
For other receivables, no matter whether they contain significant financing components or not, the company always measures its loss reserves according to the amount equivalent to the expected credit loss in the whole duration. The increased or reversed amount of loss reserves thus formed is included in the current profit and loss as impairment loss or gain.
The company combines the accounts receivable according to similar credit risk characteristics, and calculates the expected credit loss of the other accounts receivable portfolio based on all reasonable and based information, including forward-looking information. The basis for determining the portfolio and the method of withdrawing the expected credit loss are as follows:
Portfolio 1: special risk portfolio
According to the nature of business, it is determined that there is no credit risk, including accounts receivable from government departments, export tax rebates receivable, receivables within the scope of consolidation, etc. generally, bad debt reserves are not withdrawn, unless there is objective evidence that they have been impaired.
Portfolio 2: except for special risk portfolio
The business model of the company's management of other receivables is to collect contract cash flow and classify it as financial assets measured at amortized cost. The company adopts the general model of expected credit loss for other receivables and always confirms the loss reserve according to the expected credit loss in the whole renewal period. When other receivables meet the conditions for derecognition, the difference between the consideration received and the book value shall be included in the current profit and loss.
Expected credit loss model of other receivables
Project phase 1 phase 2 phase 3
After initial recognition, the credit risk has not increased significantly since the initial recognition, and the company's risk has increased significantly, but there is no credit impairment (with the characteristics of development stage)
Judge the existence of 12-month expected credit risk (objective evidence indicating that the risk of impairment due to credit loss is almost zero)
Loss reserve does not recognize the expected credit loss. The recognition basis of the expected whole renewal period. Loss of credit loss expected credit loss
(III) the recognition standard and withdrawal method of inventory falling price reserves are as follows:
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. Provision for inventory falling price according to a single inventory item: however, due to the large quantity and low unit price of inventory, provision for inventory falling price shall be made 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. (IV) the method for withdrawing the impairment of fixed assets is as follows:
Fixed assets at the end of the period are valued at the lower of book value and recoverable amount. If there are signs of impairment such as continuous decline in the market price of fixed assets or obsolete technology, damage and long-term idleness, the recoverable amount shall be estimated. If the recoverable amount of fixed assets is lower than the book value, the impairment loss of fixed assets shall be recognized according to the difference between the recoverable amount of a single fixed asset or asset group and included in the current profit and loss, and the corresponding provision for impairment of fixed assets shall be withdrawn at the same time. Once the provision for impairment of fixed assets is withdrawn, it shall not be reversed.
(V) the provision method for goodwill impairment is:
Firstly, the impairment test shall be conducted for the asset group or combination of asset groups that do not include goodwill, the recoverable amount shall be calculated, and the corresponding impairment loss shall be recognized by comparing with the relevant book value. Secondly, the impairment test shall be conducted for the asset group or combination of asset groups containing goodwill, and the book value of these relevant asset groups or combination of asset groups (including the book value of the apportioned goodwill) shall be compared with their recoverable amount. If the recoverable amount of relevant asset groups or combination of asset groups is lower than their book value, the impairment loss shall be recognized according to the difference, According to the proportion of the book value of other assets other than goodwill in the asset group or asset group combination, the impairment shall offset the book value of other assets in proportion. The goodwill formed by business combination is the goodwill recognized by the parent company according to its interests in subsidiaries. The goodwill attributable to minority shareholders in subsidiaries is not recognized in the consolidated financial statements. Therefore, when the impairment test is conducted on the asset group or combination of asset groups related to goodwill, because the estimated recoverable amount includes the value of goodwill attributable to minority shareholders, in order to establish the impairment test on a consistent basis, the enterprise shall adjust the book value of the asset group to include the goodwill attributable to minority shareholders' equity, and then, Compare the book value of the adjusted asset group with its recoverable amount to determine the asset group (including
