Securities code: 002069 securities abbreviation: Zoneco Group Co.Ltd(002069) Announcement No.: 2022-03 Zoneco Group Co.Ltd(002069)
Announcement on 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 false records, misleading statements or major omissions.
1、 Overview of provision for asset impairment
According to the accounting standards for business enterprises, the Listing Rules of Shenzhen Stock Exchange and other relevant provisions, in order to truly and accurately reflect the asset status and financial status of Zoneco Group Co.Ltd(002069) (hereinafter referred to as “the company” or “the company”) as of December 31, 2021, based on the principle of prudence, the company Intangible assets, goodwill and other assets are checked and analyzed, and impairment reserves are accrued for relevant assets that may have asset impairment losses. It is preliminarily estimated that a total of 36.7443 million yuan of impairment provision will be made in 2021. The provision for asset impairment has not been audited by an accounting firm.
The details of the estimated provision for asset impairment are as follows:
Unit: 10000 yuan
Project amount
1、 Accounts receivable 120.46
Including: accounts receivable 500.53
Other receivables -380.07
2、 Inventory 3361.17
Including: raw materials 155.74
Stock 334.99
Expendable biological assets 2870.44
3、 Goodwill 192.80
Total 3674.43
2、 Description of provision for asset impairment
(I) provision for bad debts of receivables
1. Provision for bad debts of receivables
Unit: 10000 yuan
The balance at the beginning of the year of the project is withdrawn in the current period, and the balance at the end of the period is reduced in the current period
Reversal or write off
Accounts receivable 2857.10 500.53 3357.63
Other receivables 1263.93 -380.07 0.05 883.81
Total 4121.03 120.46 0.05 4241.44
2. Notes to provision for bad debts of receivables
The company accrues bad debt reserves for all receivables according to the expected credit loss amount in the whole duration. Based on the actual loss rate of accounts receivable in previous years, the judgment of future recovery risk and the analysis of credit risk characteristics, determine the expected loss rate and withdraw bad debt reserves accordingly.
(1) Receivables for evaluating expected credit risk and measuring expected credit loss individually:
After evaluation, the customer has high credit risk and expects loss separately.
(2) Receivables for assessing expected credit risk and measuring expected credit loss by:
1) Basis for determining portfolio according to expected credit risk
Method for determining portfolio basis and measuring expected credit loss
The aging portfolio refers to the experience of historical credit loss, combined with the prediction of current and future economic conditions, and calculates the expected credit loss according to the expected credit loss rate for the whole duration.
Related parties within the consolidation scope of the risk-free portfolio group will not withdraw bad debt reserves.
2) The aging of receivables and fixed loss reserve rate confirmed by the company with reference to historical credit loss experience and forward-looking information
Accrual proportion of aging accounts receivable (%)
Within 1 year (including 1 year, the same below) 5
1-2 years 10
2-3 years 20
3-4 years 30
4-5 years 50
More than 5 years 100
(3) For accounts receivable with credit impairment, when measuring their expected credit loss, based on the difference between the book balance and the present value of the expected future cash flow discounted according to the original effective interest rate of the accounts receivable: it is estimated that the company will withdraw bad debt provision of RMB 5.053 million for accounts receivable and -3.807 million for other accounts receivable in 2021, The total provision for bad debts is 1204600 yuan.
(II) provision for inventory impairment
1. Overview of provision for inventory impairment
Unit: 10000 yuan
The balance at the beginning of the year of the project is withdrawn in the current period, and the balance at the end of the period is reduced in the current period
Reversal or write off
Raw materials 293.45 155.74 287.93 161.26
WIP 14.66 10.37 4.29
Stock 908.41 334.99 586.91 656.49
Expendable biological assets 226.03 2870.44 226.03 2870.44
Total 1442.55 3361.17 1111.24 3692.48
2. Description of provision for inventory impairment
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. The net realizable value of finished products, goods in stock, materials for sale and other goods inventories directly for sale shall be determined by the amount of the estimated selling price of the inventory minus the estimated selling expenses and relevant taxes in the normal process of production and operation; For the material inventory to be processed, in the normal production and operation process, the net realizable value shall be determined by the estimated selling price of the finished products minus the estimated cost to be incurred at the time of completion, estimated selling expenses and relevant taxes; The net realizable value of inventories held for the execution of sales contracts or labor contracts is calculated based on the contract price. If the quantity of inventories held is more than the quantity ordered in the sales contract, the net realizable value of excess inventories is calculated based on the general sales price.
At the end of the period, the inventory falling price reserves are accrued according to a single inventory item; However, for the inventory with large quantity and low unit price, the inventory falling price reserves shall be withdrawn according to the inventory category; For the inventories related to the product series produced and sold in the same region, with the same or similar end use or purpose, and 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 write down amount 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.
The company shall inspect the consumptive biological assets and productive biological assets at least at the end of each year, and there is conclusive evidence that the net realizable value of consumptive biological assets or the recoverable amount of productive biological assets is lower than its book value due to natural disasters, pests, animal diseases or changes in market demand, According to the difference between the net realizable value or the recoverable amount lower than the book value, the provision for impairment of biological assets shall be withdrawn and included in the current profits and losses.
If the factors affecting the impairment of consumptive biological assets have disappeared, the write down amount shall be restored and reversed within the amount of the originally accrued impairment reserve, and the reversed amount shall be included in the current profit and loss. Once the provision for impairment of productive biological assets is withdrawn, it shall not be reversed.
The company has conducted impairment test on various inventories. According to the test results, it is estimated that the provision for falling price of various inventories will be 33.6117 million yuan in 2021, including 1.5574 million yuan for raw materials, 3.3499 million yuan for inventory goods and 28.7044 million yuan for consumable biological assets.
3. Provision for impairment of consumable biological assets – bottom seeded shrimp scallop inventory
According to the needs of the annual audit, the national marine environment monitoring center, the annual audit accounting firm and the company jointly conducted a resource survey on the bottom seeded shrimps and scallops in the Zoneco Group Co.Ltd(002069) area. According to the on-site preliminary data of resource survey and the relevant financial data such as the book cost of bottom seeded shrimps and scallops at the end of 2021, and in accordance with the relevant provisions of the accounting standards for business enterprises, the company calculates the net realizable value and impairment provision of bottom seeded shrimps and scallops in each year. It is estimated that the provision for inventory falling price shall be made for the bottom seeded shrimp and scallop in 2020, and the provision for inventory falling price shall not be made for the bottom seeded shrimp and scallop in 2019.
(1) Overview of provision for impairment of expendable biological assets
According to the preliminary on-site data of resource survey and relevant financial data such as the book cost of bottom seeded shrimp and scallop at the end of 2021, and in accordance with the relevant provisions of the accounting standards for business enterprises, it is estimated that 28.7044 million yuan of value reduction reserves will be withdrawn for the inventory of bottom seeded shrimp and scallop with a cost of 73.3924 million yuan in 195845 Mu sea area where seedlings will be put into operation in 2020. Unit: Mu, 10000 yuan
Asset name area book value net realizable value impairment loss basis
By the end of 2020, the net realizable value of shrimps is lower than the book value of scallops 195845 7339.24 4468.80 2870.44
(2) Description of provision for impairment of consumable biological assets
Seeding in 2020
