Securities Code: 001202 Securities Abbreviation: Jushen Co., Ltd. Announcement No.: 2024-038
Guangdong Jushen Logistics Co., Ltd.
Announcement on Accounting Policy Change
The company and all members of the board of directors guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
In accordance with the requirements of the Ministry of Finance's "Notice on Issuing <Interpretation No. 16 of the Enterprise Accounting Standards>" (Cai Kuai [2022] No. 31) issued in November 2022 (hereinafter referred to as "Interpretation No. 16"), Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") has made changes to relevant accounting policies. According to the relevant provisions of the "Shenzhen Stock Exchange Listing Rules," this accounting policy change does not require submission for review by the company's board of directors and shareholders' meeting. The specific situation is as follows:
I. Overview of Accounting Policy Change
(1) Reason for Change
On November 30, 2022, the Ministry of Finance issued "Interpretation No. 16 of the Enterprise Accounting Standards," which stipulates that "deferred income tax related to assets and liabilities arising from individual transactions is not subject to initial recognition exemption accounting treatment." It requires adjustments for individual transactions applicable to this regulation that occurred between the beginning of the earliest period presented in the first financial statements applying this regulation and the date of first application. For lease liabilities and right-of-use assets recognized at the beginning of the earliest period presented in the first financial statements due to individual transactions applicable to this regulation, as well as the recognized estimated liabilities related to decommissioning obligations and corresponding related assets, if temporary taxable differences and deductible temporary differences arise, the cumulative impact amount will be adjusted to the beginning retained earnings and other related financial statement items of the earliest period presented in accordance with this regulation and the provisions of "Enterprise Accounting Standards No. 18 - Income Tax." In accordance with the above notice from the Ministry of Finance, the company has adjusted the relevant content of the current accounting policies.
(2) Date of Change
The company will begin to implement the above new accounting policies from the effective date specified in the relevant documents of the Ministry of Finance.
(3) Accounting Policies Before Change
Before this change, the company implemented the "Enterprise Accounting Standards - Basic Standards" and various specific accounting standards issued by the Ministry of Finance, as well as the "Enterprise Accounting Standards Application Guidelines," "Enterprise Accounting Standards Interpretation Announcements," and other relevant provisions.
(4) Accounting Policies After Change
After this accounting policy change, the company will implement "Interpretation No. 16 of the Enterprise Accounting Standards." For the remaining unchanged parts, the company will continue to implement the "Enterprise Accounting Standards - Basic Standards" and various specific accounting standards, "Enterprise Accounting Standards Application Guidelines," "Enterprise Accounting Standards Interpretation Announcements," and other relevant provisions.
II. Impact of This Accounting Policy Change on the Company
The company will implement the relevant provisions of "Interpretation No. 16 of the Enterprise Accounting Standards" starting from January 1, 2023, and will retrospectively adjust the comparative financial statements and cumulative impact amounts for temporary taxable differences and deductible temporary differences arising from lease liabilities and right-of-use assets on the date of first application. The specific impact is as follows:
Unit: Yuan
Before Accounting Policy Change After Accounting Policy Change
Item December 31, 2022 January 1, 2023 Impact Amount
/2022 Fiscal Year /2022 Fiscal Year