TigerResearch/tigerbot-earning-plugin huggingface dataset:
The net realizable value of finished goods, inventory and materials for sale, which are directly used for sale, is determined in the normal course of production and operation as the estimated selling price of the inventory, less estimated selling expenses and related taxes; the net realizable value of materials subject to processing is determined in the normal course of production and operation as the estimated selling price of the finished goods produced, less estimated costs to be incurred to completion, estimated selling expenses and related taxes, The net realizable value of inventories held for the execution of sales contracts or labor contracts is calculated on the basis of the contract price, and if the quantity of inventories held exceeds the quantity ordered in the sales contract, the net realizable value of the excess inventories is calculated on the basis of the general sales price.
After the provision for the impairment of inventory, if the factors affecting the previous write-down of inventory value have disappeared, resulting in the net realizable value of inventory higher than its book value, the amount of the provision for the impairment of inventory is reversed within the original provision, and the reversed amount is included in the current profit and loss.
4.Inspection for inventory
The perpetual inventory system is adopted.
5.Amortization method of low-value consumables and packaging
(1) Low-value consumables are amortized using the one-time reversal method;
(2) The one-time reversal method is used for packaging.
(11) Contract assets
1. Methods and criteria for recognition of contract assets
The Company presents contract assets or contract liabilities in the balance sheet based on the relationship between the performance obligations and payments from customers. The right to receive consideration for goods transferred or services provided by the Company to the customer (and which is dependent on factors other than the passage of time) is presented as a contract asset. Contract assets and contract liabilities under the same contract are shown on a net basis. The Company's unconditional (depending only on the passage of time) right to receive consideration from customers is shown separately as receivables.
2. Method of determining expected credit losses on contract assets and accounting treatment
The methods of determining expected credit losses on contract assets and the accounting treatment are described in detail in Note "(ix) 6. Methods of testing and accounting treatment for impairment of Financial instrument" in this Note.
(12) Long-term equity investments
1. Criteria for determining joint control and significant influence
Joint control refers to the control shared by an arrangement in accordance with the relevant agreement, and the relevant activities of the arrangement can only be decided with the unanimous consent of the participants sharing the control. If the Company exercises joint control over an investee together with other joint venture parties and has rights to the investee's net assets, the investee is a joint venture of the Company.
Significant influence means having the power to participate in the financial and operating decisions of the investee, but not being able to control or exercise joint control with other parties over the formulation of those policies. Where the Company is able to exercise significant influence over an investee, the investee is an associate of the Company.
2. Determination of initial investment
(1) Long-term equity investments resulting from business combinations
For long-term equity investments in subsidiaries formed by business combinations under common control, the initial investment of long-term equity investments is determined at the date of consolidation based on the acquisition of the share of the ownership interest of the consolidated party in the book value of the consolidated financial statements of the ultimate controlling party. The difference between the initial investment cost of the long-term equity investment and the carrying value of the consideration paid is adjusted against the equity premium in capital surplus; if the equity premium in capital surplus is not sufficient for elimination, retained earnings are adjusted. If the Company is able to exercise control over an investee under the same control due to additional investment, the difference between the initial investment cost of the long-term equity investment recognized in accordance with the above principle and the sum of the book value of the long-term equity investment before reaching the consolidation plus the book value of the consideration paid for further acquisition of shares at the date of consolidation is adjusted against equity premium, and if the equity premium is not sufficient for elimination, it is reduced against retained earnings. For long-term equity investments in subsidiaries formed through business
combinations not under common control, the initial investment cost of the long-term equity investment is based on the cost of the combination determined at the date of acquisition. If it is possible to exercise control over the investee under non-same control due to additional investment, the sum of the book value of the equity investment originally held plus the cost of the additional investment is used as the initial investment cost.
(2) Long-term equity investments acquired through other means instead of business combination
Long-term equity investments acquired by cash payment are recorded at initial investment cost based on the actual purchase price paid.
Long-term equity investments acquired by issuing equity securities are recorded at the initial investment cost based on the fair value of the equity securities issued.
3. Subsequent measurement and profit or loss recognition methods
(1) Long-term equity investments accounted for under the cost method
The Company accounts for its long-term equity investments in subsidiaries using the cost method unless the investments meet the conditions of being held for sale. Except for the declared but unpaid cash dividends or profits included in the actual price or consideration paid for the investment, the Company recognizes investment income for the current period based on the Company's entitlement to the declared cash dividends or profits of the investee.
(2) Long-term equity investments accounted for under the equity method
Long-term equity investments in associates and joint ventures are accounted for using the equity method. The difference between the initial investment cost and the share of the fair value of the identifiable net assets of the investee at the time of investment is not adjusted to the initial investment cost of the long-term equity investment; the difference between the initial investment cost and the share of the fair value of the identifiable net assets of the investee at the time of investment is recognized in profit or loss for the current period and the cost of the long-term equity investment is also adjusted.
The Company recognizes investment income and other comprehensive income according to the share of net profit or loss and other comprehensive income realized by the investee, respectively, and adjusts the carrying value of the long-term equity investment at the same time; the portion to which the Company is entitled according to the profit or cash dividends declared by the investee is calculated, and the carrying value of the long-term equity investment is reduced accordingly; for the investee's ownership interest other than net profit or loss, other comprehensive income and profit distribution For changes in the equity of the investee other than net profit or loss, other comprehensive income and profit distribution ("changes in other owners' equity"), the carrying amount of the long-term equity investment is adjusted and recognized in owners' equity.
In recognizing the share of the investee's net profit or loss, other comprehensive income and other changes in owners' equity, the fair value of the investee's identifiable net assets at the time of acquisition is used as the basis for recognition, and the net profit and other comprehensive income of the investee are adjusted in accordance with the Company's accounting policies and accounting periods.
Unrealized gains or losses on internal transactions between the company and associate and joint ventures that are attributable to the Company on the basis of their proportionate share are offset and investment income is recognized on this basis, except when the assets invested or sold constitute a business. Unrealized losses on internal transactions with investees are recognized in full if there are impairment losses on assets.
The net loss incurred by the company in a joint venture or an associate, except for the obligation to assume additional losses, is limited to a write-down to zero of the carrying amount of the long-term equity investment and other long-term interests that substantially constitute the net investment in the joint venture or associate. If the joint venture or associate subsequently realizes net profit, the Company resumes recognition of revenue sharing after the revenue sharing amount makes up for the unrecognized loss sharing amount.
(3) Disposal of long-term equity investments
The difference between the carrying amount and the actual acquisition price of a long-term equity investment is recognized in profit or loss for the current period.
If a long-term equity investment accounted for under the equity method is partially disposed of and the remaining equity interest is still accounted for under the equity method, the other comprehensive income recognized under the former equity method is carried forward in proportion to the corresponding percentage using the same basis as the direct disposal of the related assets or liabilities by the investee, and other changes in owners' equity are carried forward in proportion to the current profit or loss. If the common control or significant influence over the investee is lost due to the disposal of equity investments, etc., other comprehensive income recognized as a result of the adoption of the equity method of accounting for the original equity investment is accounted for on the same basis as the direct disposal of the related assets or liabilities of the investee upon the termination of the adoption of the equity
method of accounting, and all changes in other owners' equity are transferred to current profit or loss upon the termination of the adoption of the equity method of accounting.
If control over the investee is lost due to disposal of part of the equity investment, the remaining equity interest that can exercise joint control or significant influence over the investee is accounted for under the equity method in the preparation of individual financial statements, and the remaining equity interest is adjusted as if it had been accounted for under the equity method from the time of acquisition, and other comprehensive income recognized prior to the acquisition of control over the investee is accounted for on the same basis as if the investee had directly disposed of the related assets or liabilities. If the remaining equity interest cannot exercise joint control or significant influence over the investee, it is recognized as a financial asset, and the difference between its fair value and its carrying amount at the date of loss of control is recognized in profit or loss for the current period, and for other comprehensive income and other owner's equity recognized prior to the acquisition of control of the investee, the remaining equity interest is recognized in profit or loss for the current period. All other comprehensive income and other changes in owners' equity recognized prior to the acquisition of control of the investee are carried forward. If the disposal of an equity investment in a subsidiary through multiple transactions until the loss of control is a package transaction, each transaction is accounted for as a disposal of an equity investment in a subsidiary and the loss of control; the difference between the disposal price and the carrying value of the long-term equity investment corresponding to the equity interest disposed of before the loss of control is recognized as other comprehensive income in the individual financial statements, and then recognized as other comprehensive income when control is lost. The difference between the disposal price and the carrying amount of the long-term equity investment before the loss of control is recognized as other comprehensive income in the individual financial statements, and then transferred to profit or loss in the period in which control is lost. If it is not a package transaction, each transaction is accounted for separately.
(13) Investment properties
Investment properties are real estate held to earn rentals or for capital appreciation, or both, and include land use rights that have been leased out, land use rights that are held and intended to be transferred after appreciation, and buildings that have been leased out (including buildings that are used for leasing after completion of self- construction or development activities and buildings that are under construction or development that will be used for leasing in the future).
Subsequent expenditures related to investment properties are included in the cost of investment properties when the inflow of related economic benefits is probable and their costs can be measured reliably; otherwise, they are recognized in current profit or loss when incurred.
The Company uses the cost model to measure existing investment properties. The same depreciation policy as that for the Company's fixed assets is applied to investment properties - buildings for lease that are measured under the cost model, and land use rights for lease are subject to the same amortization policy as that for intangible assets.
(14) Fixed assets
1. Recognition and initial measurement of fixed assets
Fixed assets are tangible assets held for the production of goods, provision of services, rental or management, and with a useful life of more than one fiscal year and a unit value of more than CNY2,000. A fixed asset is recognized when both of the following conditions are met:
(1) It is probable that the economic benefits associated with the fixed asset will flow to the enterprise;
(2) The cost of the fixed asset can be measured reliably.
Fixed assets are initially measured at cost (taking into account the effect of expected disposal costs).
Subsequent expenditures related to fixed assets are included in the cost of fixed assets when it is probable that the economic benefits associated with them will flow to the enterprise and their cost can be measured reliably; for the replaced part, the carrying amount is derecognized; all other subsequent expenditures are charged to current profit or loss when incurred.
2.Depreciation Method
Depreciation of fixed assets is provided using the average annual method, and the depreciation rate is determined based on the category of fixed assets, estimated useful life and estimated net residual value rate. For fixed assets with provision for impairment, the depreciation amount is determined in future periods based on the carrying amount after deducting the provision for impairment and based on the remaining useful life. If each component of fixed assets has different useful lives or provides economic benefits to the enterprise in different ways, different depreciation rates or depreciation methods are selected and depreciated separately.
The depreciation methods, useful lifes, residual value rate and annual depreciation rates of various types of fixed assets are as follows:
| No| Category||| Useful life(years)| Estimated net residual value rate(%)| Annual depreciation rate
1|| Housing and Buildings Including: Buildings|||15|3|6.47%
|| Housing for production|||30|3|3.23%
|| Housing for non-production|||35|3|2.77%
|| Road Facilities|||30|3|3.23%
2|| Machinery equipment|||10-15|3|6.47%~9.70%
3|| Transportation equipment|||6|3|16.17%
4|| Electronic equipment|||30|3|3.23%
|| Including: Computer|||4|3|24.25%
|| General testing instruments|||7|3|13.86%
|| Specialized electronic equipment|||8|3|12.13%
|| Automated controlling equipment|||8|3|12.13%
|| Automated controlling meters|||8|3|12.13%
5|| Others equipment Including: Industrial kiln|||7|3|13.86%
|| Tools & other production tools|||9|3|10.78%
|| Transmission equipment|||15|3|6.47%
|| Non-operational|equipment|and|18|3|5.39%
||tools|||||
3. Disposal of fixed assets
Fixed assets are derecognized when they are disposed of, or when no economic benefits are expected to arise from their use or disposal. The disposal proceeds from the sale, transfer, scrapping or destruction of fixed assets, net of their book value and related taxes and fees, are recognized in profit or loss for the current period.
(15) Construction in progress
Construction in progress is measured at the actual cost incurred. Actual costs include construction costs, installation costs, borrowing costs eligible for capitalization and other necessary expenditures incurred to bring the construction in progress to its intended useable condition. Construction in progress is transferred to fixed assets and depreciated from the following month when it reaches its intended useable state.
1、Valuation method of intangible assets
(1) The company initially measures intangible assets at cost when they are acquired; The intangible assets of the Group refer to land use right, ERP system software etc. The cost of intangible assets shall include the purchase price, relevant taxes and other necessary expenditures directly attributable to intangible assets. The cost invested into intangible assets by investors shall be determined according to the stated value in the investment contract or agreement, except for those of unfair value in the contract or agreement. The cost of an externally acquired intangible asset includes the purchase price, related taxes and other expenses directly attributable to bringing the asset to its intended use.
(2)Subsequent measurement
The useful life of an intangible asset is analyzed and determined at the time of acquisition.
For intangible assets with finite useful lives, they are amortized over the period in which they bring economic benefits to the enterprise; if the period in which the intangible assets bring economic benefits to the enterprise cannot be foreseen, they are considered to be intangible assets with indefinite useful lives and are not amortized.
Land use right shall be amortized evenly within the amortization period since the remised date.ERP system softwareand other intangible assets are amortized over the shortest of their estimated useful life, contractual beneficial period and useful life specified in the law. Amortization charge is included in the cost of assets or expenses, as appropriate, for the period according to the usage of the assets. At the end of the year, for definite life of intangible assets, their estimated useful life and amortization method shall be assessed. Any change shall be treated as change on accounting estimate.
(17) Impairment of long term assets
Long-term equity investments, investment properties measured using the cost model, fixed assets, construction in progress, right-of-use assets, intangible assets with finite useful lifes, oil and gas assets and other long-term assets are tested for impairment if there is an indication of impairment at the balance sheet date. If the result of the impairment test indicates that the recoverable amount of an asset is less than its carrying amount, a provision for impairment is made for the difference and an impairment loss is recorded. The recoverable amount is the higher of the asset's fair value less costs of disposal and the present value of estimated future cash flows of the asset. The provision for asset impairment is calculated and recognized on an individual asset basis. If it is difficult to estimate the recoverable amount of an individual asset, the recoverable amount of the asset group is determined using the asset group to which the asset belongs. An asset group is the smallest combination of assets that can generate cash inflows independently.
For goodwill resulting from business combinations, intangible assets with indefinite useful lives, and intangible assets that have not yet reached a serviceable status, impairment tests are performed once a year at the end of each year, regardless of whether there is an indication of impairment.
The Company conducts goodwill impairment tests and apportions the carrying value of goodwill formed as a result of a business combination to the relevant asset group from the date of purchase in accordance with a reasonable method; if it is difficult to apportion to the relevant asset group, it is apportioned to the relevant asset group combination. A relevant asset group or a combination of asset groups is an asset group or a combination of asset groups that can benefit from the synergistic effect of a business combination.
When impairment test of the relevant asset group or combination of asset groups that contain goodwill, if there is an indication of impairment of the asset group or combination of asset groups related to goodwill, the asset group or combination of asset groups that do not contain goodwill is first tested for impairment, the recoverable amount is calculated and compared with the relevant carrying amount, and a corresponding impairment loss is recognized. If the recoverable amount is less than the carrying amount, the impairment loss is first reduced by the carrying amount of goodwill apportioned to the asset group or group of assets, and then reduced by the carrying amount of each asset group or group of assets other than goodwill in proportion to its proportionate share of the carrying amount of the other assets. The carrying value of each asset is then reduced by the carrying value of each asset other than goodwill.
Once the above impairment loss is recognized, it will not be reversed in subsequent accounting periods.
(18) Long-term amortization
Long-term amortization is an expense that has been incurred but should be borne by the current and future periods and is apportioned over a period of more than one year. These costs are amortized evenly over the period of benefit. If an item of long-term amortization does not benefit subsequent accounting periods, the unamortized amortized value of the item is transferred to current profit or loss.
(19) Contract liability
An entity’s obligation to transfer goods or services to a customer for which the entity has received consideration (or the amount is due) from the customer. Contract asset and contract liability originate from same contact shall be listed at net amount.
(20) Employee compensation
1. Accounting for short-term compensation
The Company recognizes actual short-term compensation incurred by employees as a liability in the accounting period in which the employees provide services to the Company, and recognizes it in the current profit or loss or the cost of related assets.
The social insurance premiums and housing fund paid by the Company for its employees, as well as the labor union funds and employee education funds withdrawn in accordance with regulations, are used to determine the corresponding amount of employee compensation in accordance with the prescribed accrual basis and accrual ratio during the accounting period in which the employees provide services to the Company.
Employee benefit expenses incurred by the Company are charged to current profit or loss or the cost of related assets based on the actual amount incurred when incurred, of which non-monetary benefits are measured at fair value.
2. Accounting for post-employment benefits
(1) Defined contribution plan