TigerResearch/tigerbot-earning-plugin huggingface dataset:
The Company has elected not to recognize right-of-use assets and lease liabilities for short-term leases and leases of low-value assets, and to recognize the related lease payments in current profit or loss or the cost of the related assets on a straight-line basis over each period of the lease term. Short-term leases, which are leases with a lease term of not more than 12 months at the commencement date of the lease term and do not include a purchase option. Low-value asset leases, which are leases with a lower value when the single leased asset is a brand-new asset. If the company subleases or expects to sublease the leased assets, the original lease is not a low- value asset lease.
(4) Change of lease
If a lease is changed and the following conditions are met at the same time, the company will account for the lease change as a separate lease:
- the lease modification expands the scope of the lease by adding the right to use one or more leased assets;
- The increased consideration is equivalent to the separate price of the expanded portion of the lease adjusted for the circumstances of that contract.
If a lease modification is not accounted for as a separate lease, at the effective date of the lease modification, the company reapportioned the consideration of the modified contract, redetermined the lease term, and remeasured the lease liability based on the present value of the modified lease payments and the revised discount rate.
If a lease change results in a reduction in the scope of the lease or a shortening of the lease term, the Company reduces the carrying value of the right-of-use asset accordingly and recognizes the gain or loss related to partial termination or complete termination of the lease in profit or loss for the current period. If other lease changes result in the remeasurement of the lease liability, the Company adjusts the carrying value of the right-of-use asset accordingly.
2. The Company as lessor
At the commencement date of the lease, the Company classifies leases into finance leases and operating leases. A finance lease is a lease that transfers substantially all the risks and rewards associated with ownership of the leased asset, regardless of whether ownership is ultimately transferred. Operating leases refer to leases other than finance leases. When the Company acts as a sublease lessor, it classifies the sublease based on the right-to-use assets arising from the original lease.
(1) Accounting for operating leases
Lease receipts under operating leases are recognized as rental income on a straight- line basis over each period of the lease term. The Company capitalizes the initial direct costs incurred in connection with operating leases and apportions them to current profit or loss over the lease term on the same basis as rental income is recognized. Variable lease payments that are not included in the lease receipts are recognized in current profit or loss when they are actually incurred. If a change in an operating lease occurs, the Company accounts for it as a new lease from the effective date of the change, and the amount of lease payments received in advance or receivable in connection with the lease before the change is regarded as the amount of payments received under the new lease.
(2) Accounting for finance leases
On the commencement date of the lease, the Company recognizes finance lease receivables for finance leases and derecognizes finance lease assets. When the Company makes initial measurement of the finance lease receivable, the net lease investment is used as the recorded value of the finance lease receivable. The net lease investment is the sum of the unguaranteed residual value and the present value of the lease receipts not yet received at the commencement date of the lease term discounted at the interest rate embedded in the lease.
The Company calculates and recognizes interest income for each period of the lease term based on a fixed periodic interest rate. Derecognition and impairment of finance lease receivables are accounted for in accordance with Note 3 (ix) "Financial Instruments" of this note.
Variable lease payments that are not included in the net lease investment measurement are recognized in profit or loss when they are actually incurred.
If a change in a finance lease occurs and the following conditions are met, the Company accounts for the change as a separate lease:
- the change expands the scope of the lease by adding the right to use one or more leased assets;
- the increased consideration is equivalent to the separate price of the expanded portion of the lease adjusted for the circumstances of that contract.
If a change in a finance lease is not accounted for as a separate lease, the Company treats the changed lease separately in the following circumstances:
- If the change becomes effective on the lease commencement date and the lease would be classified as an operating lease, the Company accounts for it as a new lease from the effective date of the lease change and uses the net investment in the lease prior to the effective date of the lease change as the carrying amount of the leased asset;
- If the change becomes effective on the lease commencement date and the lease is classified as a finance lease, the Company accounts for the lease in accordance with the policy on modification or renegotiation of contracts as described in Note 3 (ix) Financial Instruments.
3. Sale and leaseback transactions
The Company assesses whether the transfer of assets in sale-and-leaseback transactions is a sale in accordance with the principles described in Note 3(22)"Revenue".
If the transfer of assets in a sale-and-leaseback transaction is a sale, the Company, as the lessee, measures the right-of-use asset resulting from the sale-and-leaseback at the portion of the carrying value of the original asset that relates to the right-of-use acquired by the leaseback and recognizes a gain or loss only for the right transferred to the lessor; if the transfer of assets in a sale-and-leaseback transaction is not a sale, the Company, as the lessee, continues to recognize the transferred asset and at the same time recognizes a financial liability equal to the transfer proceeds. The company continues to recognize the transferred asset as a lessee and at the same time recognizes a financial liability equal to the transferred revenue. For details of the accounting treatment of financial liabilities, please refer to Note 3 (9) "Financial Instruments".
(2) As lessor
If the transfer of assets in a sale-and-leaseback transaction is a sale, the Company accounts for the purchase of the assets as a lessor and accounts for the lease of the assets in accordance with the aforementioned policy "2. If the transfer of assets in a leaseback transaction is not a sale, the Company, as the lessor, does not recognize the transferred asset, but recognizes a financial asset equal to the transferred revenue. For details of the accounting treatment of financial assets, please refer to Note 3 (9) "Financial Instruments".
(27) Changes in significant accounting policies and accounting estimates
1. Changes in significant accounting policies
(1) Implementation of Interpretation No. 15 of Accounting Standards for Business Enterprises
On December 30, 2021, the Ministry of Finance issued Interpretation No. 15 of Accounting Standards for Business Enterprises ([2021] No. 35, hereinafter referred to as "Interpretation No. 15").
1Accounting treatment for trial sales
Interpretation No. 15 provides for the accounting treatment and presentation of the sale of products or by-products produced before a fixed asset reaches its intended useable state or in the course of research and development, and stipulates that the net amount of revenues related to trial sales after offsetting costs should not be offset against the cost of fixed assets or research and development expenditures. This provision is effective as of January 1, 2022, and should be retroactively adjusted for trial sales that occurred between the beginning of the earliest period presented in the financial statements and January 1, 2022. The implementation of this regulation did not have a significant impact on the Company's financial position and results of operations.
2Judgment on loss-making contracts
Interpretation No. 15 clarifies that the enterprise in determining whether a contract constitutes a loss contract when considering the "cost of performing the contract" should include both the incremental cost of performing the contract and the amount of the apportionment of other costs directly related to the performance of the contract. This provision is effective as of January 1, 2022, and companies should implement this provision for contracts with all obligations outstanding as of January 1, 2022, with the cumulative effect of adjusting retained earnings and other related financial statement items at the beginning of the year in which the provision is implemented, but not prior period comparative financial statement data. The implementation of this provision did not have a material impact on the Company's financial position and results of operations.
(2) Implementation of Interpretation No. 16 of Accounting Standards for Business Enterprises
On November 30, 2022, the Ministry of Finance issued Interpretation No. 16 of Accounting Standards for Business Enterprises ( [2022] No. 31, hereinafter referred to as "Interpretation No. 16").
1Accounting for the income tax effects of dividends related to financial instruments classified as equity instruments by the issuer
Interpretation No. 16 stipulates that for financial instruments classified as equity instruments, if the related dividend expense is deducted before corporate income tax in accordance with the relevant provisions of the tax policy, the income tax effect of the dividend shall be recognized when the dividend payable is recognized, and the income tax effect of the dividend shall be recognized in the current profit or loss or in the current period in a manner consistent with the accounting treatment used for past transactions or events that resulted in distributable profit. (including other comprehensive income).
The regulation is effective from the date of publication. If the relevant dividend payable occurs between January 1, 2022 and the effective date, it shall be adjusted in accordance with the regulation; if it occurs before January 1, 2022 and the relevant financial instruments have not been derecognized as of January 1, 2022, it shall be adjusted retroactively. The implementation of this provision has not had a significant impact on the Company's financial position and results of operations.
2On the accounting treatment of enterprises modifying cash-settled share-based payments to equity-settled share-based payments
Interpretation No. 16 clarifies that if an enterprise modifies the terms and conditions of a cash-settled share-based payment agreement to become an equity-settled share- based payment, the equity-settled share-based payment shall be measured at the fair value of the equity instrument granted on the date of modification, whether it occurs during or after the end of the waiting period, and the acquired services shall be recorded in capital surplus, while derecognizing the cash-settled The difference between the liability recognized at the date of modification for share-based payments and the liability recognized at the date of modification shall be recognized in profit or loss for the current period.
The regulation is effective from the date of publication, and relevant transactions added from January 1, 2022 to the effective date shall be adjusted in accordance with the regulation; relevant transactions occurring before January 1, 2022 that are not treated in accordance with the regulation shall be retroactively adjusted by adjusting the cumulative effect to retained earnings and other related items as of January 1,2022, without adjusting the comparative financial statement data of prior periods. The implementation of this provision did not have a material impact on the Company's financial position and results of operations.
Tax| Tax base|||| Tax rate
| The output tax is calculated on the basis of the income from the sale of goods and taxable services calculated in accordance||||
 Value-added tax (VAT) with the|provisions of the|tax|law,|and|13%,9%,6%,5%
|after deducting the input tax allowed to be||||
deducted in the|current|period,||the|
|difference is the value-added tax payable||||
 City construction tax| Value-added tax payables||||7%
Education surcharge| Value-added tax payables||||3%
 Local education surcharge| Value-added tax payables||||2%
 Enterprise income tax (EIT)| Current period taxable profit||||15% or 25%
 Real estate tax from leasing property|70% of cost of own property or revenue||||1.2% or 12%
 Land use tax  Land using right area||||| CNY 6 per square meter
| Tax principles|| EIT rate
 Wafangdian Bearing Co., Ltd||15%|
 Wazhou Liaoyang Bearing construction Co., Ltd||15%|
 DalianWazhou Precision Motor Car Bearing Company Limited||25%|
 Wazhou Precision of Spherical Roller Bearings (Wafangdian) Co., Ltd||25%|
2.Tax preference
The company obtained the qualification of high and new technology enterprises at 3 December, 2020.The Certificate No is GR202021200656, and the validity duration is three years. The subsidiary of the Company, Wazhou Liaoyang Bearing construction Co., Ltd obtained the qualification of high and new technology enterprises at 15 September, 2020. The Certificate No is GR202021000550 and the validity duration is three years. According to the tax law, the company can be granted for the preferential tax policy of enterprise income tax rate of 15% in three years.
V. Notes to Consolidated Financial Statements
| Items|| Closing balance| Opening balance
 Cash on hand||292.91||8,510.17
 Cash in bank||227,356,998.46||209,839,386.25
 Other cash and cash equivalents||103,389,415.51||76,628,805.27
| Total|330,746,706.88||286,476,701.69
Note:The following is a breakdown of monetary funds that are subject to restrictions on use due to mortgages, pledges or freezes, restrictions on withdrawals due to centralized management of funds, and restrictions on repatriation of funds placed abroad:
Items| Items| Opening balance
 Bank Acceptance Deposit|75,389,415.51|76,628,805.27
 Letter of Credit Margin|28,000,000.00|
 Total|103,389,415.51|76,628,805.27
Items| Closing balance| Opening balance
1. Financial asset measured at fair value through P&L|243,454.50|322,037.93
 Among them: Debt instrument investment|-|-
 Equity instrument investment|243,454.50|322,037.93
 Others|-|-
 Total|243,454.50|322,037.93
iii. Note receivable
|| Items| Closing balance| Opening balance
 Bank acceptance notes|||415,924,381.54|445,227,090.19
 Trade acceptance notes|||58,140,598.48|65,722,577.37
 Total|||474,064,980.02|510,949,667.56
 Less: Provision for impairment|||4,280,386.41|2,978,533.87
|| Total|469,784,593.61|507,971,133.69
|2.| Pledged notes receivable up to the end of year.||
|| Items| Closing pledged amount|
|| Bank acceptance notes||20,228,644.00
Total 20,228,644.00
Items| Closing amount no more recognized| Closing amount still recognized
 Bank acceptance notes||349,325,619.89
 Trade acceptance notes||27,768,711.36
 Total||377,094,331.25
iv. Account receivable
Aging| Closing Balance| Opening balance
 Within1 year|1,007,255,429.21|862,920,154.04
1-2 years|169,054,402.12|213,779,196.18
2-3 years|36,587,357.00|21,417,496.30
3-4years|8,448,563.73|14,967,320.03
4-5years|14,065,231.25|12,583,629.66
 Over 5 years|36,192,353.92|25,781,206.68
 Total|1,271,603,337.23|1,151,449,002.89
 Less: Provision for bad debt|135,308,007.64|151,994,694.49
 Total|1,136,295,329.59|999,454,308.40
|||| Closing Balance||
 Items| Booking balance||| Provision||
 Accounts receivable with individual bad debt provision| Amount|%|| Amount|%| Booking value
|77,765,538.08|6.12||77,765,538.08|100.00|
 Accounts receivable with bad debt provision based on the characters of credit risk portfolio|1,193,837,799.15|93.88||57,542,469.56|4.82|1,136,295,329.59
-Aging portfolio|937,128,769.48|73.70||57,542,469.56|6.14|879,586,299.92
-Related party portfolio|256,709,029.67|20.19||||
 Total|1,271,603,337.23|100.00||135,308,007.64||1,136,295,329.59
||| Opening Balance||
 Items| Booking balance|| Provision||
| Amount|%| Amount|%| Booking value
Accounts receivable with individual bad debt provision|87,004,581.38|7.56|87,004,581.38|100.00|
 Accounts receivable with bad debt provision based on the characters of credit risk portfolio|1,064,444,421.51|92.44|64,990,113.11|6.11|999,454,308.40
-Aging portfolio|889,978,615.10|77.29|64,990,113.11|7.30|824,988,501.99
-Related party portfolio|174,465,806.41||||
 Total|1,151,449,002.89|100.00|151,994,694.49||999,454,308.40
Bad debt provision for accounts receivable at the end of year based on individual:
|| Closing Balance||
 Debtors name| Accounts receivable| Provision for bad debts| Proportion(%)| Reasons for provision
 Wazhou Group Special Steel Co., Ltd|5,092,669.00|5,092,669.00|100.00|uncollectable
 Liaoning Yinheng Galvanized Colored Coated Steel Sheet Co. Ltd|3,213,308.67|3,213,308.67|100.00|uncollectable
 Shandong Hengji New Materials Co., Ltd|2,284,666.96|2,284,666.96|100.00|uncollectable
 Heilongjiang Longmei Logistics Co., Ltd|2,134,140.98|2,134,140.98|100.00|uncollectable
 Shandong Yuanda Board Technology Co., Ltd|1,804,722.77|1,804,722.77|100.00|uncollectable
Yingkou Iron & Steel Co. Ltd|1,696,318.44|1,696,318.44|100.00|uncollectable
 HBIS Company Limited Handan Branch|1,608,611.42|1,608,611.42|100.00|uncollectable
 An Gang steel Co.,Ltd|1,595,050.69|1,595,050.69|100.00|uncollectable
 Bazhou Tianli Tube Co., Ltd|1,325,600.76|1,325,600.76|100.00|uncollectable
 Zhejiang Yesheng New Material Co. Ltd|1,301,760.00|1,301,760.00|100.00|uncollectable
 CITIC Heavy Industries Co.,Ltd|1,128,791.54|1,128,791.54|100.00|uncollectable
 HenanTaihang Vibration Machinery Co., Ltd|989,207.41|989,207.41|100.00|uncollectable
Donghai New Material Co. Ltd|942,558.20|942,558.20|100.00|uncollectable
 Shanghai Jieru Heavy Industry Mechanical Equipment Co., Ltd|923,603.80|923,603.80|100.00|uncollectable
 Tangshan Guofeng Iron and Steel Co. LTD|883,297.41|883,297.41|100.00|uncollectable
 Jilin Chengzhong Auto Parts Co., Ltd|872,874.22|872,874.22|100.00|uncollectable
Shandong Changhua Machinery Technology Co., Ltd|846,943.06|846,943.06|100.00|uncollectable
 Wanxin(Deyang) Engineering & Equipment Co., Ltd. of China National Erzhong Group|795,887.92|795,887.92|100.00|uncollectable
 Benxi Beiying Steel (Group) Co. Ltd|775,804.98|775,804.98|100.00|uncollectable
 Shantui Construction Machinery Co., Ltd|772,850.38|772,850.38|100.00|uncollectable
 Zhongguang Keji(Fujian)Co.,Ltd.|761,374.62|761,374.62|100.00|uncollectable
 Shandong Yuntong New Material Technology Co. Ltd|711,438.94|711,438.94|100.00|uncollectable
 Dongfeng Transmission Co.,Ltd|704,098.23|704,098.23|100.00|uncollectable
ShanghaiWeiqiang Heavy Industry Mechanic Co.,Ltd|673,595.42|673,595.42|100.00|uncollectable
 Dalian Tianyuan Motor Co.,Ltd|666,383.31|666,383.31|100.00|uncollectable
 Shanxi Hongda Iron&Steel Co.,Ltd|657,373.00|657,373.00|100.00|uncollectable
 Shaanxi Hande Axle Co., Ltd. Xi'an Branch|644,075.33|644,075.33|100.00|uncollectable
 Dandong Shuguang Heavy Axle Co., Ltd|642,833.42|642,833.42|100.00|uncollectable
 Hangzhou Advance Gearbox Group Co., Ltd|634,135.80|634,135.80|100.00|uncollectable
 Wolong Electric Huai 'an Qingjiang Motor Co. Ltd|601,859.03|601,859.03|100.00|uncollectable
Xingtai Iron and Steel Co., Ltd|590,148.98|590,148.98|100.00|uncollectable
 Qinghai Lufeng New Material Co., Ltd|525,743.44|525,743.44|100.00|uncollectable
 Xi 'an Zhuoshibo Hydraulic Engineering Co., Ltd|514,938.87|514,938.87|100.00|uncollectable
 Jiangsu Leche Heavy Industry Machinery Co. LTD|506,477.77|506,477.77|100.00|uncollectable
 Bengang Steel Plates Co., Ltd|487,064.68|487,064.68|100.00|uncollectable
 Dongfeng Commercial Vehicle Co., Ltd|486,019.87|486,019.87|100.00|uncollectable
 Gaotang Lvyin Environmental Protection Technology Co. Ltd|477,691.81|477,691.81|100.00|uncollectable
Mudanjiang Reduction Gears Factory|467,905.65|467,905.65|100.00|uncollectable
 Shandong Zhangqiu Blower Co.,Ltd.|461,708.13|461,708.13|100.00|uncollectable
07-256 Factory|460,854.77|460,854.77|100.00|uncollectable
 Beijing Jingcheng Star Technology Development Co., Ltd|450,000.00|450,000.00|100.00|uncollectable
Hunan Chaoyang Mechanic & Electric Co.,Ltd|446,627.60|446,627.60|100.00|uncollectable
 Liaoyang Sudong Trade Co.,Ltd|444,946.96|444,946.96|100.00|uncollectable
 Shandong Guanzhou Co., Ltd|434,439.09|434,439.09|100.00|uncollectable
 XEMC|416,549.65|416,549.65|100.00|uncollectable
 Shanxi Taigang Stainless Steel Co.,Ltd.|402,332.21|402,332.21|100.00|uncollectable
 Chengdu Gaoyuan Electromechanical Equipment Co.,Ltd.|383,615.52|383,615.52|100.00|uncollectable
 Boshan Motor Group Co.,Ltd|373,700.65|373,700.65|100.00|uncollectable
Xuzhou Xugong Material Supply Co., Ltd|373,237.55|373,237.55|100.00|uncollectable
 Qingdao Shuangxing Tire Industry Co. Ltd|371,251.58|371,251.58|100.00|uncollectable
 Shandong Quanlin Group Co. Ltd|370,734.92|370,734.92|100.00|uncollectable
 Liaohe Mechanic Co.,Ltd|362,280.30|362,280.30|100.00|uncollectable
 Nanjing Institute of Astronomical Optics&Technology,CAS|352,660.01|352,660.01|100.00|uncollectable
 Min Metals Yingkou Medium Plate Co.,Ltd.|351,890.29|351,890.29|100.00|uncollectable
 Tai'an Tianhua Economic and Trade Co., Ltd|346,554.01|346,554.01|100.00|uncollectable
Guanxian Hongshun Composite Materials Co., Ltd|343,820.00|343,820.00|100.00|uncollectable
 Hengfengtai Precision Machinery Co., Ltd|318,948.38|318,948.38|100.00|uncollectable
 Shandong Tancheng Xinya Light Industry Machinery Co. Ltd|318,488.87|318,488.87|100.00|uncollectable
 Northeast Special Steel Group Beiman Special Steel Co. Ltd|315,004.72|315,004.72|100.00|uncollectable
 Shenji Group Kunming Machine Tool Company Limited|312,093.91|312,093.91|100.00|uncollectable
 Shengli Oilfield Yinghai Building Materials Co.|310,948.58|310,948.58|100.00|uncollectable
 Taicang Hu Tai Chang’e Paper Equipment Co. Ltd|310,361.32|310,361.32|100.00|uncollectable
Shaanxi Hande Axle Co., Ltd|309,157.59|309,157.59|100.00|uncollectable
Pingdingshan Tianan Coal Industry Co., Ltd 305,579.25 305,579.25 100.00 uncollectable
Pangang Group Chengdu Iron&Steel Co.,Ltd.|303,305.45|303,305.45|100.00|uncollectable
 Hebei Jinxi Iron & Steel Group Co. Ltd|301,978.67|301,978.67|100.00|uncollectable
 Harbin Hakuo Electric Power Technology Co. Ltd|297,905.32|297,905.32|100.00|uncollectable
 Shaft Sales Branch ofWax Axis Group Liaoyang Bearing Manufacturing Co.|294,203.05|294,203.05|100.00|uncollectable
 Sichuan Ningjiang Shanchuan Machinery Co., Ltd|288,157.60|288,157.60|100.00|uncollectable
 Jiangsu Xinrui Gear System Co. Ltd|286,949.88|286,949.88|100.00|uncollectable
 China erzhong group (deyang)jingheng driving equipment co.ltd|286,935.03|286,935.03|100.00|uncollectable
Siemens Electric Motor (China) Co., Ltd|284,110.82|284,110.82|100.00|uncollectable
 Langfang Shenhua Industry and Trade Co., Ltd|282,645.16|282,645.16|100.00|uncollectable
 Taiyuan Heavy Industry Co., Ltd|275,596.93|275,596.93|100.00|uncollectable
 Shandong Guanpeng Latten Co.,Ltd|273,748.84|273,748.84|100.00|uncollectable
 Baotou Tianlihuanfa Mechanic & Electric Co.,Ltd|273,597.67|273,597.67|100.00|uncollectable
 ZHUZHOU GEAR CO.,LTD.|270,087.40|270,087.40|100.00|uncollectable
 Sinosteel Xi'an Heavy Machinery Co., Ltd|265,321.47|265,321.47|100.00|uncollectable
Anhui Jianghuai Automobile Group Co., Ltd. Light Commercial Vehicle Branch|264,521.67|264,521.67|100.00|uncollectable
 Baoji Zhongyi Industry and Trade Co. Ltd|256,372.12|256,372.12|100.00|uncollectable
 Shandong Huali Motor Group Suzhou Manufacturing Co., Ltd|244,801.28|244,801.28|100.00|uncollectable
 Zhibo Boshanqianjin Reduction Gears Co.,Ltd o. Ltd|244,579.32|244,579.32|100.00|uncollectable
 Yanggu Dangyu Sheet Co., Ltd|243,280.00|243,280.00|100.00|uncollectable
 Tonghua Iron & Steel Co. Ltd|240,568.39|240,568.39|100.00|uncollectable
 Shijiazhuang Qiangda Slurry Pump Co.,Ltd|238,749.98|238,749.98|100.00|uncollectable