Announcement on Changes in the Company's Accounting Policy
Release time:
2021-05-20
Securities Code: 600668 Securities Abbreviation: Jianfeng Group No.: Pro 2020-020
Zhejiang Jianfeng Group Co., Ltd.
Announcement on Changes in Company Accounting Policies
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 assumes individual and joint responsibility for the truthfulness, accuracy and completeness of its contents .
Important Note:
● The implementation of the new revenue standard by the Company will not result in significant changes in the Company's revenue recognition method and will not affect the Company's financial position, operating results and cash flow, including total assets, net assets and net profit.
1. the basic information of this accounting policy change
(1 ) Overview of accounting policy change
2017 7 5 , the Ministry of Finance issued the "Notice on Revising and Issuing < Enterprise Accounting Standards 14 - Income > " (Accounting [2017 ] 22 ) (hereinafter referred to as "New Income Standards " ), enterprises that are required to be listed at the same time at home and abroad and enterprises that are listed abroad and adopt International Financial Reporting Standards or Enterprise Accounting Standards to prepare financial statements shall come into effect from 2018 1 ; Other domestic listed enterprises shall come into effect from 2020 1 1 ; non-listed companies that implement corporate accounting standards, effective from 2021 1 February 1 . In accordance with the requirements of this document, the Company has made changes to the contents of the relevant accounting policies, which will take effect from 2020 1 1 .
(2 ) Board of Directors Review
2020 August# July 28 , the company held the 10th Board of Directors st meeting by means of communication voting. All the existing eight directors of the company attended the meeting. After review and voting, the Board of Directors approved the "Bill on Changes in the Company's Accounting Policy" with 8 votes in favor, 0 votes against, and 0 abstentions.
(3) Review of the Board of Supervisors
2020August April 28 , the company held the 10thth meeting of the 9th Board of Supervisors by means of communication voting. All the existing five supervisors of the company attended the meeting. After review and voting, with 5 votes in favor, 0 votes against, 0 abstentions, the board of supervisors deliberated and passed the "bill on the change of accounting policy of the company". 2. the specific contents of this accounting policy change
The specific contents of the new income standard change are as follows
:1
, bringing the current income and construction contract standards into a unified income recognition model;2
, replacing risk-reward transfer with control transfer as the judgment standard of income recognition time point;3
, provides clearer guidance on the accounting treatment of contracts containing multiple trading arrangements;4
, provides clear provisions on revenue recognition and measurement for certain specific transactions (or event ) .
Impact of Changes in 3. Accounting Policy on the Company
The Company has implemented the new income standard since January 132
, January 13, March, 135, According to the requirements stipulated in the convergence of the new income standard, the Company will not adjust the information for comparable periods. The implementation of the new revenue standard will not result in significant changes in the way the Company recognizes revenue, will not affect the Company's financial position, results of operations and cash flows, including total assets, net assets and net profit, and will not be detrimental to the interests of the Company and its shareholders. Concluding Opinions of Independent Directors and Supervisors of 4.
Independent Directors of (I)Independent Directors believe that the company's accounting policy change is a reasonable change in accordance with the requirements of relevant documents of the Ministry of Finance and conforms to the relevant regulations of the Ministry of Finance, China Securities Regulatory Commission and Shanghai
Stock Exchange
and other regulatory agencies, the implementation of the changed accounting policy can objectively and fairly reflect the company's financial position and operating results. The review and decision-making process of this accounting policy change is 148 in compliance with the relevant laws and regulations and the Articles of Association of the Company, and will not have a significant impact on the Company's financial position, operating results and cash flow, and the 150 does not harm the interests of the Company and all shareholders.Opinions of the Board of Supervisors of the (II)
The Board of Supervisors believes that the change in the company's accounting policy complies with the relevant provisions of the Accounting Standards for Business Enterprises, can objectively and fairly reflect the company's financial status and operating results, and there is no harm to the company's interests and small and medium-sized The situation of the legitimate rights and interests of shareholders. Its decision-making procedures comply with the relevant laws and regulations and the provisions of the Articles of Association. We agree to this change in the Company's accounting policy.
filing document(I) the resolution of the 16th meeting of the 10th board of directors of the company;
Resolution of the 10th Meeting of the 9th Board of Supervisors of the (II);
Independent Opinions of (III) Independent Directors on Changes in Accounting Policies
This is to announce
Zhejiang Jianfeng Group Co., Ltd.
Board of Directors
August 29, 2002
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Editor's note: On November 20, the first page of "Jinhua Daily" published "Focus on sticking to the peak forever-Enlightenment of Jianfeng Group's 60 years of entrepreneurship" written by the reporter of the newspaper, which was specially reprinted by this newspaper. Focus on sticking to the peak forever-Jianfeng Group's 60 years of entrepreneurship enlightenment "Jinhua Daily" reporter Shao Xuilian as of the end of the third quarter of this year, the total assets of 4.788 billion yuan, net assets of 3.366 billion yuan, the realization of the parent company's net profit of 0.488 billion yuan, earnings per share of 1.42 yuan. Recently, Jianfeng Group disclosed its beautiful report for the third quarter of 2018, celebrating its 60th anniversary with the best operating results in history. Wind and rain for 60 years. With sustained and steady high-quality development, the peak people are moving towards a comprehensive modern enterprise group with strong core competitiveness. Strategy: Focus and Professionalism In 1958, the first generation of peak people built the first cement factory in Jinhua history at the foot of peak mountain. Beginning in 1983, through horizontal alliances with township enterprises, the formation of enterprise groups, and the implementation of shareholding reforms, Jianfeng has developed from a small state-owned cement plant to the first listed company in China's cement industry. Since then, in the stage of diversification, the peak will develop the pharmaceutical industry into the second pillar industry. In 2007, it joined forces with the central enterprise China Building Materials to participate in the establishment of Southern Cement and strategically shifted the focus of the cement industry; at the same time, through corporate mergers and acquisitions and technological innovation, the pharmaceutical industry has further exerted its strength. Today, Jianfeng Group has 33 participating and holding subsidiaries, involving building materials, medicine, big health, modern logistics, national.
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