Stock Code: Shenzhen Center Power Tech.Co.Ltd(002733) stock abbreviation: Shenzhen Center Power Tech.Co.Ltd(002733) Announcement No.: 2022028 Shenzhen Center Power Tech.Co.Ltd(002733)
With regard to the announcement on the provision of credit impairment loss and asset impairment loss in 2021, the company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete without false records, misleading statements or major omissions.
Shenzhen Center Power Tech.Co.Ltd(002733) (hereinafter referred to as "the company") held the second meeting of the Fourth Board of directors in 2022 on April 28, 2022, deliberated and adopted the proposal on withdrawing credit impairment loss and asset impairment loss in 2021. The relevant information is hereby announced as follows:
In accordance with the requirements of the accounting standards for business enterprises and the guidelines for self regulation and supervision of listed companies of Shenzhen Stock Exchange No. 1 - standardized operation of listed companies on the main board, the company has analyzed the assets within the scope of the consolidated statements based on the principle of prudence, and now proposes to withdraw the corresponding impairment provision for the assets with signs of impairment.
The following is the impairment test of the company's accounts receivable, other receivables, notes receivable, long-term receivables, prepayments, inventories, long-term equity investments, other non current assets and other assets at the end of 2021:
Amount of provision for asset impairment in 2021 (yuan)
1. Credit impairment loss (loss expressed with "-") - 13202353736
Bad debt loss of notes receivable 27237735
Bad debt loss of accounts receivable -9229065071
Bad debt loss of other receivables 57367575
Bad debt loss of long-term receivables -4057893975
2. Asset impairment loss is indicated with "-" 156804681 "-"
Bad debt loss of prepayment -5235219302
Inventory falling price reserves -3675459727
Provision for impairment of long-term equity investment -3465127755
Provision for impairment of other non current assets -3311660320
1、 Specific description of the current accrual of credit impairment loss and asset impairment loss
(I) impairment loss of credit assets
The financial assets that the company needs to recognize impairment losses mainly include notes receivable, accounts receivable, other receivables, creditor's rights investment, other creditor's rights investment, long-term receivables, etc.
1. Notes receivable
The company measures the loss reserves for notes receivable according to the amount equivalent to the expected credit loss in the whole duration. Based on the credit risk characteristics of notes receivable, they are divided into different combinations:
Basis for determining project portfolio
Bank acceptance bill this combination is the bank acceptance bill receivable
Commercial acceptance bill this combination is commercial acceptance bill receivable
2. Accounts receivable
The company's receivables are measured in accordance with the amount equivalent to the expected credit loss in the whole duration.
For receivables with significant financing components, the company chooses to always measure the loss reserve according to the amount equivalent to the expected credit loss during the duration.
In addition to the accounts receivable that individually assess credit risk, they are divided into different combinations based on their credit risk characteristics:
Basis for determining project portfolio
Related parties included in the consolidated statements
The aging combination takes the aging of accounts receivable as the credit risk feature
3. Other receivables
The company adopts the amount equivalent to the expected credit loss in the next 12 months or the whole duration to measure the impairment loss according to whether the credit risk of other receivables has increased significantly since the initial recognition.
In addition to other receivables that individually assess credit risk, they are divided into different combinations based on their credit risk characteristics:
Basis for determining project portfolio
Nature of dividend receivables
Aging combination aging
4. Long term receivables (excluding receivables with significant financing components and lease receivables)
The company adopts the amount equivalent to the expected credit loss in the next 12 months or the whole duration to measure the impairment loss of long-term receivables according to whether its credit risk has increased significantly since initial recognition.
The company has conducted impairment test on various receivables and contract assets. The company has withdrawn 9229065071 yuan of bad debt loss of accounts receivable, 27237735 yuan of bad debt loss of notes receivable, 57367575 yuan of bad debt loss of other accounts receivable and 4057893975 yuan of bad debt loss of long-term accounts receivable this year.
2、 Asset impairment loss
1. Bad debt loss of prepayments
The company conducts impairment test on prepayments in accordance with the accrual policy of bad debt provision for receivables and accrues bad debt provision accordingly.
2. Inventory falling price loss
At the end of the year, inventories are valued according to the principle of the lower of cost and net realizable value. For the part of inventories whose cost is expected to be unrecoverable due to damage, all or part of obsolescence or the sales price is lower than the cost, inventory falling price reserves are withdrawn. The net realizable value of inventories of goods directly for sale, such as goods in stock, products in process and materials for sale, is determined by the amount of the estimated selling price of the inventory minus the estimated selling expenses and relevant taxes; The net realizable value of material inventories held for production is determined by the estimated selling price of finished products minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes.
3. Provision for impairment of long-term equity investment
The company determines and confirms the impairment provision of long-term equity investment based on the recoverable amount of long-term equity investment. If there is objective evidence of impairment of investments in subsidiaries, associates and joint ventures on the balance sheet date, the corresponding impairment provision shall be withdrawn according to the difference between the book value and the recoverable amount. If the recoverable amount of the asset is lower than its book value, the asset impairment provision shall be withdrawn according to the difference and included in the current profit and loss. 4. Provision for impairment of other non current assets
For other non current assets and other long-term assets, if there are signs of impairment on the balance sheet date, the recoverable amount shall be estimated. If the recoverable amount of long-term assets is lower than its book value, the asset impairment provision shall be recognized according to the difference and included in the current profit and loss.
In 2021, the company made provision for bad debt loss of prepayments of 5235219302 yuan, provision for inventory falling price of 3532345535 yuan, provision for impairment of long-term equity investment of 3465127755 yuan and provision for impairment of other non current assets of 3311660320 yuan.
4、 The impact of the provision for asset impairment on the company's financial position
The provision for credit impairment and asset impairment this time resulted in a decrease of 28889820840 yuan in the total profit of 2021. The provision for credit impairment and asset impairment this time truly reflects the financial situation of the company, meets the requirements of accounting standards and relevant policies, conforms to the actual situation of the company, and does not harm the interests of the company and shareholders. The provision for asset impairment has been audited by Zhongqin Wanxin Certified Public Accountants (special general partnership).
3、 Opinions of the board of directors, independent directors and the board of supervisors on the provision for impairment
(I) opinions of the board of directors
The board of Directors believes that the provision of credit impairment loss and asset impairment loss is in line with the accounting standards for business enterprises and relevant accounting policies of the company. In accordance with the principle of prudence and the actual situation of the company's assets, the provision of credit impairment loss and asset impairment loss can fairly reflect the financial status and operating results of the company as of December 31, 2021, The board of directors agreed to withdraw credit impairment loss and asset impairment loss this time. This proposal still needs to be deliberated at the 2021 annual general meeting of shareholders.
(II) opinions of independent directors
Independent directors believe that the company's provision for credit impairment loss and asset impairment loss is based on the principle of prudence, in line with the relevant provisions of the accounting standards for business enterprises and the actual situation of the company's assets, and there is no situation that damages the interests of the company and all shareholders, especially minority shareholders. After the accrual of credit impairment loss and asset impairment loss this time, the company's financial statements can more fairly reflect the company's financial situation. It is agreed that the accrual of credit impairment loss and asset impairment loss this time will be submitted to the 2021 annual general meeting of shareholders of the company for deliberation.
(III) opinions of the board of supervisors
The board of supervisors believes that the company's accrual of credit impairment loss and asset impairment loss in accordance with the accounting standards for business enterprises and relevant accounting policies of the company is in line with the actual situation of the company. After the accrual of credit impairment loss and asset impairment loss, it can more fairly reflect the company's asset status, financial status and operating results, and there is no situation that damages the interests of the company and all shareholders, especially minority shareholders, The decision-making procedure of the board of directors of the company on this proposal complies with the relevant provisions of relevant laws and regulations, and agrees to withdraw credit impairment loss and asset impairment loss this time. This proposal still needs to be deliberated at the 2021 annual general meeting of shareholders.
6、 Documents for future reference:
1. Resolution of the second meeting of the Fourth Board of directors in 2022
2. Resolution of the second meeting of the Fourth Board of supervisors in 2022
3. The and independent opinions of independent directors on matters related to the second meeting of the Fourth Board of directors in 2022 are hereby announced.
Shenzhen Center Power Tech.Co.Ltd(002733) board of directors April 29, 2022
