Securities code: 600026 securities abbreviation: Cosco Shipping Energy Transportation Co.Ltd(600026) Announcement No.: pro 2022-007 Cosco Shipping Energy Transportation Co.Ltd(600026)
Announcement on receiving the inquiry letter from Shanghai Stock Exchange
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.
Cosco Shipping Energy Transportation Co.Ltd(600026) (hereinafter referred to as “the company”) received the inquiry letter on the impairment of Cosco Shipping Energy Transportation Co.Ltd(600026) assets from Shanghai Stock Exchange on January 21, 2022 (SSE Gong Han [2022] No. 0044), the specific contents are as follows:
“After the close of trading on January 21, 2022, your company disclosed the announcement of performance loss in advance and the announcement of provision for impairment of ship assets in 2021. It is estimated that the net profit attributable to the parent company in 2021 will be -4.920 billion to -5.120 billion yuan, and the net profit attributable to the parent company after deducting non-profit will be -4.920 billion to -5.120 billion yuan. The company’s performance will suffer a loss compared with the same period of the previous year, mainly due to the provision for impairment of ship assets of 4.96 billion yuan According to article 13.1.1 and other relevant provisions of the stock listing rules of the exchange, your company is hereby requested to verify and supplement the disclosure of the following matters.
1、 According to the disclosure, the company made provision for impairment of 94 of the 141 ships it held, totaling about 4.96 billion yuan. Among them, the impairment of foreign trade aging ship asset group is 13.7206 million yuan, the impairment of non foreign trade aging ship asset group is 4.938 billion yuan, and the impairment of floating warehouse is 9.8686 million yuan. The company is requested to: (1) further distinguish the asset group of non foreign trade aging ships according to the ship age, transportation goods, route, etc., and disclose the number of impaired ships, book value, net amount of fair value minus disposal expenses, present value of future cash flow and recoverable amount according to the type; (2) Supplement and disclose the specific process, selection of main parameters and basis of asset impairment measurement, compare with the external data available on key parameters, demonstrate and explain whether there is significant deviation in the evaluation, the reason and rationality of withdrawing large amount of impairment in the reporting period, and whether the withdrawing amount is accurate and appropriate.
2、 According to the disclosure, the main reason for the provision of asset impairment loss this time is that the international authority lowered the forecast of the rent level of the tanker transportation market, “the impact of the” carbon emission reduction “policy and the implementation of the green development strategy. The company is requested to make supplementary disclosure: (1) the time when the company finds that there are signs of impairment of relevant assets, and the time when the company completes the impairment test of relevant assets and confirms the specific amount withdrawn; (2) In combination with the trend of ship rent level and the company’s operating performance in recent ten years, explain the specific situation of early asset impairment test and impairment provision; (3) The specific impact of implementing the green development strategy on this impairment; (4) By reference to the impairment provision of comparable companies in the same industry, explain whether the asset impairment of the company in the early stage is insufficient and untimely, and whether it complies with the relevant provisions of accounting standards. 3、 According to the disclosure, the international tanker freight rate has shown a downward trend since May 2020. The company is requested to supplement and disclose the solutions and Countermeasures the company has taken and plans to take against the market downturn in combination with the current operation and finance, and fully reveal the relevant risks.
Please disclose this inquiry letter immediately after receiving the letter. Your company shall earnestly implement the requirements of this inquiry letter, disclose the contents of the reply within 5 trading days, and do a good job in the preparation and disclosure of subsequent annual reports. “
The above is the whole content of the inquiry letter. The company will reply to the relevant questions of the inquiry letter as soon as possible and fulfill the corresponding information disclosure obligations according to the requirements of Shanghai Stock Exchange. The information disclosure media designated by the company is the website of Shanghai Stock Exchange (www.sse. Com. CN.) And China Securities Journal and Shanghai Securities News. Please pay attention to investment risks.
It is hereby announced.
Cosco Shipping Energy Transportation Co.Ltd(600026) board of directors January 21, 2002
