Securities code: China Meheco Group Co.Ltd(600056) securities abbreviation: China Meheco Group Co.Ltd(600056) Announcement No.: Lin 2022027 China Meheco Group Co.Ltd(600056)
With regard to the announcement on the provision of asset impairment loss and credit impairment loss in 2021, the company and all members of the board of directors guarantee that there are no false records, misleading statements or major omissions in the contents of the announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
China Meheco Group Co.Ltd(600056) (hereinafter referred to as "the company") deliberated and passed the proposal on the company's goodwill impairment test in 2021 and the proposal on the company's asset impairment and asset write off in 2021 at the 23rd Meeting of the eighth board of directors. In combination with the company's annual audit, the relevant information is hereby announced as follows:
1、 Overview of the situation
In accordance with the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, in order to more fairly reflect the company's financial status and asset value, the company conducts a comprehensive inspection and impairment test on all kinds of assets. After a comprehensive inventory, inventory and evaluation, based on the principle of prudence, the company needs to withdraw asset impairment loss of 5752971 million yuan and credit impairment loss of 3705883 million yuan in 2021.
2、 Asset impairment loss
(I) impairment loss of goodwill
According to the accounting standards for Business Enterprises No. 8 - asset impairment, the company conducts impairment test on the goodwill formed by business combination at the end of each year. According to the performance of the merged enterprise in previous years, the company has predicted its future operation, and conducted impairment test on the asset group containing goodwill by using the income method.
In 2021, according to the test, except for the impairment of the goodwill of Henan general medical and Health Industry Co., Ltd. (hereinafter referred to as "Henan general"), there is no sign of impairment of other goodwill.
1. Basic information of the company's acquisition of Henan GM
The company issued Lin 2016013 and Lin 2016014 announcements on February 24 and March 1, 2016 respectively, disclosing the company's purchase of 70% equity of Henan GM.
In 2016, the company designated its wholly-owned subsidiary Tianfang Pharmaceutical Co., Ltd. (hereinafter referred to as "Tianfang Co., Ltd") to purchase 70% of the equity of Henan GM held by Tibet Tiansheng Taifeng Pharmaceutical Co., Ltd. According to the assets appraisal report (zlpbz [2015] No. 1165) issued by Zhonglian assets appraisal group Co., Ltd., the current income is
According to the valuation method, the value of all shareholders' equity of Henan GM is 780495900 yuan, with a value-added rate of 946.99%.
According to the equity transfer agreement, the transaction refers to the above asset appraisal conclusion to determine the 70% equity of Henan GM
The overall valuation and consideration shall be paid, and the consideration for equity transfer shall be paid in two phases. Tianfang Co., Ltd. pays the first installment in cash
The price of 30% equity consideration was 238572 million yuan, and it was confirmed that it held 70% equity of Henan GM in March 2016
The long-term equity investment is 556668000 yuan, forming a goodwill of 504485400 yuan. 40% equity consideration of phase II
Subsequently, it will be paid with part of the equity of China Meheco Group Co.Ltd(600056) subsidiary. In 2018, after further consultation, all parties agreed to
The payment method of 40% equity consideration of Italy phase II was changed to cash, and the amount of consideration was 226976800 yuan, which was lower than
In 2016, the consideration of 40% equity of phase II confirmed by the company decreased by 911192 million yuan.
2. Provision for impairment of goodwill
According to the accounting standards for business enterprises and the relevant provisions of the company's accounting policies, the company conducts business negotiation every year
Impairment test. Since 2018, due to the lower business development, revenue and profit of Henan GM than that of the acquisition
It is expected that in order to more fairly reflect the company's financial position and asset value, the company hired a third party to evaluate
The appraisal institution evaluates the recoverable value of the asset group including goodwill of Henan GM, and accrues goodwill on this basis
For impairment, 4347732 million yuan of goodwill impairment provision has been withdrawn from 2018 to 2020.
In 2021, due to the continuous impact of the epidemic and the impact of emergencies such as rainstorm in the area where Henan GM is located
And the bankruptcy and reorganization of Xuchang municipal hospital, and Henan GM and its subordinate enterprises withdraw accounts receivable from Xuchang municipal hospital
Due to the credit impairment loss of 645119 million yuan, the net profit of Henan GM in 2021 was -550153
Million yuan, less than expected. Refer to the appraisal issued by North Northking Information Technology Co.Ltd(002987) ASI Asset Appraisal Office (special general partnership)
According to the appraisal report (Beifang Yashi pingbao Zi [2022] No. 01-317), the company needs to confirm the impairment standard of Henan general goodwill
The provision is 502269 million yuan, minus the impairment provision of 4347732 million yuan accrued in previous years, which will be reduced in 2021
It is necessary to make up the impairment provision of 674958 million yuan.
The provision for impairment of goodwill in each year is as follows:
Unit: 10000 yuan
For the group of assets including goodwill, it is necessary to confirm that the goodwill has been withdrawn according to the proportion of 70% equity. The impairment provision of goodwill at the end of the year is recognized as the net value of the impairment provision of goodwill
2016 - 5044854
2017 - 5044854
20181327845929492 - 9294924115362
2019247721817340529294928045603310802
20206211046434773217340522613680697122
2021717527150226904347732674958 221.65
(II) inventory falling price loss
The company's inventories are measured at the lower of the cost and net realizable value on the balance sheet date. When the net realizable value is lower than the cost, the inventory falling price reserves are accrued.
The net realizable value of inventories is determined by the estimated selling price minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes.
At the end of 2021, the inventory falling price loss of the company was 5074957 million yuan after inventory checking and inventory taking. Of which:
1. In 2020, the company carried out epidemic prevention business outside China and purchased and stored epidemic prevention materials such as medical masks. As the epidemic situation in China eased, the market price of such inventories fell, and some inventories were unsalable, which was close to the expiration date. According to the company's accounting policies, the depreciation loss of inventories related to epidemic prevention business in 2021 was 3370924 million yuan.
2. The inventory falling price loss of traditional Chinese medicinal materials and raw materials is 556261 million yuan, the falling price loss of individual enterprises is 505116 million yuan, and the falling price loss of other inventories is 642656 million yuan.
(III) contract asset impairment loss and fixed asset impairment loss are RMB 305600.
3、 Credit impairment loss
According to the company's accounting estimation policy and in combination with the actual situation, the company accrued credit impairment loss of 370588300 yuan in 2021, including 338780300 yuan of credit impairment loss accrued according to the individual identification method, mainly including:
Due to the dispute over the return of the contract, the company has not actively negotiated with the supplier in 2020. 1. Due to the dispute over the return of the contract in 2020, some disputes with the supplier have not occurred. Combined with the negotiation with suppliers and the opinions of lawyers, the credit impairment loss of 2293428 million yuan was accrued for the receivables related to epidemic prevention business in 2021.
2. Due to the bankruptcy and reorganization of Xuchang municipal hospital, the subordinate enterprises of the company accrued 708945 million yuan of credit impairment loss of receivables of Xuchang Municipal Hospital; The credit impairment loss of other business receivables is 38.543 million yuan according to the individual recognition method.
3. 31.808 million yuan of credit impairment loss is accrued according to the aging combination.
4、 Impact on the company
In 2021, the company accrued asset impairment loss of 575297100 yuan and credit impairment loss of 370588300 yuan, reducing the net profit of listed companies by 945885400 yuan in 2021.
5、 Decision making procedures performed by the company
(I) the audit committee of the board of Directors believes that the company's provision for asset impairment loss and credit impairment loss is in accordance with the accounting standards for business enterprises and relevant accounting policies of the company, which is fully based, reflects the principle of accounting prudence and conforms to the actual situation of the company. After the company has accrued asset impairment losses and credit impairment losses, the relevant financial statements can more truly and fairly reflect the company's financial status, asset status and operating results. The audit committee agrees with the company on matters related to the provision of asset impairment loss and credit impairment loss.
(II) the 23rd Meeting of the eighth board of directors of the company considered and approved the above matters related to the provision for impairment. During the annual audit, the board of directors of the company fully communicated with the annual audit institution of the company on the provision of asset impairment loss and credit impairment loss. The board of Directors believes that the provision of impairment loss is based on the actual situation of the company and the principle of prudence, which is conducive to objectively and fairly reflecting the asset status of the company at the end of the reporting period and in line with the accounting standards for business enterprises and relevant provisions of the company's accounting policies.
(III) the independent directors of the company believe that the company's accrual of asset impairment loss and credit impairment loss is based on the principle of prudence, in line with the relevant provisions of the accounting standards for business enterprises and the company's accounting policies, and can objectively and fairly reflect the company's asset status at the end of the reporting period. The voting procedures of the board of directors on the above matters are legal and effective, and there is no damage to the interests of the company and all shareholders, especially minority shareholders. We agree with the company's provision for asset impairment loss and credit impairment loss.
It is hereby announced.
China Meheco Group Co.Ltd(600056) board of directors April 30, 2022
