Stock Name:铜峰电子
Stock code:600237
Securities code: 600237 Securities abbreviation: Tongfeng Electronic Announcement Number: Lin 2021-009
Anhui Tongfeng Electronics Co., LTD
Announcement on the provision for asset impairment
The board of directors and all the directors of the Company warrant that there is no false record, misleading statement or material omission in the content of this announcement, and bear individual and joint liability for the authenticity, accuracy and completeness of the content.
In order to objectively and fairly reflect the company's financial position and operating results at the end of 2020, the company conducted a comprehensive inventory of all assets in accordance with the principle of prudence and the relevant provisions of the Accounting Standards for Business Enterprises and the Company's accounting policies. The relevant assets that may suffer impairment losses are tested for impairment and the corresponding impairment reserve is set aside. In 2020, the combined impairment reserve of the company is set aside RMB 33.5912 million, transferred back RMB 28.024 million, sold off RMB 5.435 million, and written off RMB 3.4700 million. See the following table for details:
Statement of reserve for impairment Unit: Ten thousand Yuan |
||||||
Impairment reserve item |
Beginning number |
Current period withdrawals |
Current reduction |
Ending number |
||
Turn-back number |
turnover |
Write off |
||||
1. bad debt reserve |
8,733.83 |
1,990.74 |
1,038.87 |
|
347.00 |
9,338.70 |
2. Reserve for inventory declines |
6,975.82 |
1,356.19 |
1,761.37 |
16.20 |
|
6,554.44 |
3. Impairment of fixed assets |
10,821.82 |
12.19 |
|
113.39 |
|
10,720.62 |
4. Impairment of construction in progress |
413.91 |
|
|
413.91 |
|
|
5. Impairment of intangible assets |
883.33 |
|
|
|
|
883.33 |
Combined meter |
27,828.71 |
3,359.12 |
2,800.24 |
543.5 |
347.00 |
27,497.09 |
This asset impairment provision has been reviewed and approved by the fourth meeting of the ninth Board of Directors and the third meeting of the ninth Board of Supervisors.
Ii. Explanation of reasonableness of the provision for asset impairment
1. Reserve for credit impairment of receivables
On the balance sheet date, the Company classifies the receivables according to their importance and credit risk characteristics. For the receivables with significant single amount and insignificant single amount but for which the provision for bad debts is drawn by single item, the company conducts separate impairment tests and draws credit impairment provisions based on the difference between the present value of their future cash flows and their carrying value. For all receivables of the same age with similar credit risk characteristics, the aging analysis method is adopted to calculate and withdraw the credit impairment reserve. In accordance with the company's policy of reserve for credit impairment, RMB 19,907,400 was deducted during the current period, RMB 10,388,700 was transferred to reserve for credit impairment, and RMB 3.4700 was written off.
2. Reserve for inventory decline
At the end of the period, the company will conduct a comprehensive inventory, which is measured according to the lower of cost and net realizable value. When the net realizable value of the main raw materials and finished products is lower than the cost, the reserve for inventory decline shall be drawn. The Company determines the net realizable value of the inventory on the basis of obtaining solid evidence, taking into account the purpose of holding the inventory and the impact of events after the balance sheet date. In the normal course of production and operation, the net realizable value of the inventory of finished products and materials directly used for sale shall be determined from the estimated selling price of the inventory less the estimated cost of completion, selling expenses and taxes. At the end of the period, on the basis of making a comprehensive inventory count, reserve shall be drawn for the part of the inventory whose cost is expected to be unrecoverable due to the inventory being damaged, all or part of the inventory being obsolete or the selling price being lower than the cost. When the cost of inventory in the current period is lower than the net realizable value or the inventory for which the reserve for decline in inventory has been drawn is sold, the reserve for decline in inventory shall be reversed or sold off. During the current period, the reserve for inventory declines amounted to 13,561,900 yuan, the reserve for reverse declines amounted to 17,613,700 yuan, and the reserve for resale declines amounted to 162,200 yuan.
3. Provision for impairment of projects under construction
If the construction of the project under construction has been suspended for a long time and is not expected to be restarted in the next three years, or the project under construction has fallen behind in performance and technology, and the economic benefits brought to the enterprise have great uncertainty, or other circumstances sufficient to prove the impairment of the project under construction, the difference between the recoverable amount and the carrying value shall be used as the impairment reserve of the project under construction; The impairment reserve for projects under construction shall be calculated and withdrawn on a single project basis. The current period due to the disposal of HeHuijin source write-off impairment reserve of RMB 4,139,100.
4. Reserve for impairment of fixed assets
For fixed assets, the company shall judge whether there are signs of impairment on the balance sheet date. If there are signs of impairment, impairment test shall be conducted. If the impairment test results show that the recoverable amount of an asset is lower than its carrying value, the impairment reserve shall be drawn and recorded into the impairment loss according to the difference. The recoverable amount is the higher of the net fair value of the asset less disposal costs and the present value of the asset's projected future cash flows. The asset impairment reserve shall be calculated and confirmed on the basis of individual assets. If it is difficult to estimate the recoverable amount of individual assets, the recoverable amount of the asset group shall be determined by the asset group to which the asset belongs. In the current period, the provision for impairment of fixed assets was 121,900 yuan, which was 1,333,900 yuan due to disposal of fixed assets.
5. Provision for impairment of intangible assets
In accordance with the ability of various intangible assets of an enterprise to bring future economic benefits to the enterprise, if the estimated recoverable amount is lower than the carrying value of the enterprise, the impairment reserve of intangible assets shall be drawn and recorded in the current profit and loss according to the difference; The provision for impairment of intangible assets shall be calculated and withdrawn by individual items.
At this period, there is no indication that the intangible assets of the Company have been impaired, so there is no need to make provision for intangible assets impairment.
Iii. Impact of asset impairment provision on the company's financial position
In 2020, the total amount of consolidated impairment reserve of the company will be 33.5912 million yuan, transferred back to the impairment reserve of 28.024 million yuan, transferred to the impairment reserve of 5.435 million yuan, and written off to the impairment reserve of 3.4700 million yuan. After deducting the impact of minority shareholders' rights and income tax, the impact on the current profit will be 3.4768 million yuan.
Iv. Instructions of the Board of Directors on the provision for impairment
The company's impairment reserve is based on the actual situation of the company's assets, in accordance with the "Accounting Standards for Enterprises" and the company's relevant accounting policies, the company's asset impairment reserve, can more fairly reflect the company's assets, can make the company's accounting information about the value of assets more objective and fair, with rationality.
V. Independent opinion of the independent director on the provision for impairment
According to the "Accounting Standards for Business Enterprises" and relevant accounting policies, the company's asset impairment provisions in line with the actual situation of the company's assets and relevant policy requirements. After the company makes provision for asset impairment, it can more fairly reflect the asset status of the company and help to provide more relevant and reliable accounting information. It is agreed that the company will make provision for impairment of relevant assets in 2020.
Vi. Opinions of the Board of Supervisors on the provision for impairment
The company shall, in accordance with the accounting standards for business enterprises and relevant provisions, make provision for asset impairment, which conforms to the actual situation of the company and can more fairly reflect the asset status of the company. The board of directors' decision procedure on this matter is legal and agrees that the company will make provision for impairment of various assets this time.
This is to announce.