天喻信息(300205) - 2023 Q2 - 季度财报

Contract Costs - Contract acquisition costs are recognized as an asset if they are expected to be recoverable, but if the amortization period does not exceed one year, they are expensed in the current period[1] - Contract fulfillment costs are recognized as an asset if they meet specific criteria, including being directly related to a current or expected contract and increasing resources for fulfilling obligations[1] - Costs related to contract fulfillment must be directly attributable to the contract and expected to be recoverable to be recognized as an asset[1] - Assets related to contract costs are amortized on the same basis as the recognition of related revenue, impacting current period profits[2] Non-Current Assets Held for Sale - Non-current assets or disposal groups classified as held for sale are measured at the lower of their carrying amount before classification and their recoverable amount[5] - Non-current assets or disposal groups no longer meeting the criteria for held-for-sale classification are measured at the lower of their adjusted carrying amount and recoverable amount[5] Long-Term Equity Investments - Long-term equity investments are initially measured at cost, with adjustments made for differences between the initial investment cost and the fair value of net assets acquired[7] - For long-term equity investments under the equity method, if the initial investment cost is less than the fair value of the net assets acquired, the difference is recognized in current period profits[11] - Long-term equity investments obtained through business combinations are initially measured at the fair value of the consideration transferred[9] - Long-term equity investments under the cost method are adjusted for additional or reduced investments, with dividends recognized as investment income[10] - The company uses the equity method to account for long-term equity investments, adjusting the carrying value based on the investee's net profit or loss, other comprehensive income, and profit distribution[12] - In the event of a net loss from the investee, the company reduces the carrying value of the long-term equity investment and other long-term interests to zero, and recognizes additional loss obligations as a provision for liabilities[13] - When acquiring minority equity, the difference between the new long-term equity investment and the share of net assets calculated based on the increased shareholding ratio is adjusted to capital reserves[13] - The disposal of long-term equity investments without losing control results in the difference between the disposal price and the corresponding share of the subsidiary's net assets being recorded in shareholders' equity[13] - For long-term equity investments accounted for using the equity method, the remaining equity after disposal is still accounted for using the equity method, and the other comprehensive income previously recognized is proportionally transferred to current profit or loss[14] - When the company loses control of an investee due to partial disposal of equity investments, the remaining equity is accounted for using the equity method or financial instrument accounting standards, and the difference between fair value and carrying value is recognized in current profit or loss[15] Fixed Assets and Depreciation - The company recognizes fixed assets when the related economic benefits are likely to flow in and the cost can be reliably measured, with initial measurement based on cost and considering expected disposal costs[17] - Fixed assets are depreciated using the straight-line method, with depreciation periods ranging from 3 to 35 years and residual rates of 5%[18] - The company reviews the useful life, residual value, and depreciation method of fixed assets at least annually, and changes are treated as changes in accounting estimates[19] - Construction in progress is recognized at actual cost, including capitalized borrowing costs and other related expenses, and is transferred to fixed assets upon reaching the intended usable state[20] Borrowing Costs - Borrowing costs are capitalized when asset expenditures have occurred, borrowing costs have been incurred, and construction or production activities necessary to prepare the asset for its intended use or sale have begun[21] - Borrowing costs cease to be capitalized when the asset reaches its intended usable or saleable condition[21] - Specialized borrowing costs are capitalized based on actual interest expenses minus interest income from unused funds or temporary investments[21] - General borrowing costs are capitalized based on the weighted average of cumulative asset expenditures exceeding specialized borrowing, multiplied by the capitalization rate[21] - Foreign exchange differences on specialized foreign currency borrowings are fully capitalized during the capitalization period[21] Intangible Assets - Intangible assets are initially measured at cost and amortized using the straight-line method over their useful lives[24] - Intangible assets with indefinite useful lives are not amortized but are reviewed annually for impairment[24] - Internal research and development expenditures are classified into research phase and development phase, with development phase expenditures capitalized if certain criteria are met[31] Impairment of Assets - Long-term assets are tested for impairment if there are indications of impairment, and impairment losses are recognized if the recoverable amount is less than the carrying amount[32] - The company's long-term assets are tested for impairment when there are indications that their carrying amounts may not be recoverable, with impairment recognized if the carrying amount exceeds the recoverable amount[67] Employee Benefits - The company recognizes termination benefits as a liability when it cannot unilaterally withdraw the termination plan or redundancy proposal, and the related costs are included in current period expenses[39] - Termination benefits expected to be paid beyond 12 months after the reporting period are treated as other long-term employee benefits[39] - The company accounts for other long-term employee benefits under defined contribution plans or defined benefit plans, depending on the nature of the plan[40] Provisions and Liabilities - Provisions are recognized when the company has a present obligation, it is probable that an outflow of resources will be required, and the amount can be reliably estimated[42] - For loss-making contracts, the company recognizes a provision for the excess of expected costs over expected economic benefits[42] - The company recognizes restructuring provisions only when a detailed and formal plan has been announced and a binding sale agreement has been signed[42] Share-Based Payments - Equity-settled share-based payments are measured at the fair value of the equity instruments granted, and the cost is recognized over the vesting period[43] - Cash-settled share-based payments are measured at the fair value of the liability, and the cost is recognized over the vesting period[44] Revenue Recognition - Revenue is recognized when control of goods or services is transferred to the customer, and the transaction price is allocated to each performance obligation based on relative standalone selling prices[47] - The company recognizes revenue over time if certain criteria are met, such as the customer simultaneously receiving and consuming the benefits of the company's performance[48] - Domestic product sales revenue is recognized when goods are delivered to the customer's specified location and confirmed by the customer, including methods such as signed receipts, statements, or confirmation on the customer's data management platform[50] - Export product sales revenue is recognized when goods are cleared for export and the export declaration or customer receipt is obtained[50] - Revenue from technical development contracts is recognized based on the progress of service delivery, using the input method to determine the progress, and confirmed by customer-signed settlement or acceptance documents[51] - Revenue from asset usage rights contracts is recognized over the period of asset usage based on the progress of the contract[51] Government Grants - Government grants are classified as either asset-related or income-related, with asset-related grants recognized as deferred income and amortized over the asset's useful life[52] - Income-related government grants are recognized as deferred income and recorded in the current period's profit or loss when related costs or losses are incurred[54] - Government grants related to daily operations are included in other income or offset against related costs, while those unrelated to daily operations are recorded in non-operating income or expenses[55] Deferred Tax - Deferred tax assets and liabilities are recognized for temporary differences between the carrying amount and tax base of assets and liabilities, using the balance sheet liability method[56] - Deferred tax assets are recognized for deductible temporary differences if it is probable that taxable profit will be available against which the temporary difference can be utilized[57] - Income tax expenses include current tax and deferred tax, with deferred tax adjustments for business combinations affecting the carrying amount of goodwill[58] - The company's deferred tax assets and liabilities are reported net when there is a legal right to offset current tax assets and liabilities, and they relate to the same tax authority and taxpayer[59] - The company's total unrecognized deferred tax assets amounted to RMB 111,047,203.44 at the end of the period, with deductible temporary differences of RMB 5,997,157.52 and deductible losses of RMB 105,050,045.92[63] Financial Instruments and Impairment - The company's financial assets are assessed for impairment using an expected credit loss model, which requires significant judgment and estimates based on historical data and forward-looking information[66] - The company's inventory is measured at the lower of cost or net realizable value, with impairment recognized when cost exceeds net realizable value[66] - The company uses various valuation methods, including discounted cash flow models, to determine the fair value of financial instruments without active markets[67] Income Tax Rates - The company's income tax rate is 15% due to its status as a high-tech enterprise, with the certification valid for three years[70] - The company's subsidiary, Hubei Baiwang Jinfu Technology Co., Ltd., also enjoys a 15% preferential corporate income tax rate as a high-tech enterprise[70] - The company's subsidiaries, including Wuhan Tianyu Julian Intelligent Technology Co., Ltd., have been recognized as small and micro-profit enterprises, benefiting from reduced corporate income tax rates. For taxable income not exceeding RMB 1 million, the tax rate is effectively 10% (25% of taxable income at a 20% rate), and for income between RMB 1 million and RMB 3 million, the tax rate is effectively 5% (25% of taxable income at a 20% rate)[71] Accounts Receivable and Bad Debt Provisions - Accounts receivable increased by 34.87% compared to the beginning of the period, driven by growth in sales revenue and the addition of new receivables not yet settled[85] - The company's accounts receivable balance at the end of the period was RMB 959,929,134.48, with a bad debt provision of RMB 190,128,577.73, representing a provision ratio of 19.81%[77] - The top five accounts receivable balances at the end of the period totaled RMB 272,699,796.04, accounting for 28.41% of the total accounts receivable balance, with a corresponding bad debt provision of RMB 47,637,186.24[84] - Accounts receivable with a balance of 35,791,785.72 yuan from Shandong Huitong Cloud Data Technology Co., Ltd. has a 100% bad debt provision due to significant uncertainty in recovery[163] - The company's total accounts receivable at the end of the period amounted to 959,929,134.48 yuan, with 788,841,939.23 yuan (82.18%) within 1 year[164] Prepayments and Other Receivables - Prepayments decreased by 53.96% compared to the beginning of the period, mainly due to the settlement of prepayments and a reduction in prepayment transactions during the reporting period[83] - The balance of receivables financing decreased by 79.31% compared to the beginning of the period, primarily due to the endorsement of bank acceptance bills during the reporting period[87] - Other receivables decreased from RMB 96,999,290.16 at the beginning of the period to RMB 89,535,187.74 at the end of the period[90] - The total other receivables decreased from 116,836,948.11 yuan at the beginning of the period to 112,194,859.63 yuan at the end of the period, a decrease of 4.64%[92] - The bad debt provision increased from 19,837,657.95 yuan at the beginning of the period to 22,659,671.89 yuan at the end of the period, an increase of 14.23%[94][98] - The top five other receivables accounted for 86.09% of the total other receivables at the end of the period, with a total balance of 96,583,198.60 yuan[99] Inventory and Impairment - The total inventory decreased from 532,905,991.25 yuan at the beginning of the period to 478,552,560.36 yuan at the end of the period, a decrease of 10.20%[101] - The inventory impairment provision decreased from 164,989,591.35 yuan at the beginning of the period to 162,604,349.89 yuan at the end of the period, a decrease of 1.45%[101][104] Other Assets and Liabilities - Other current assets increased by 46.24% from the beginning of the period, mainly due to an increase in the balance of input tax credits and deductible input tax[106] - The long-term receivables decreased from 43,486,811.17 yuan at the beginning of the period to 34,501,120.71 yuan at the end of the period, a decrease of 20.66%[108] - The bad debt provision for long-term receivables decreased from 2,391,716.35 yuan at the beginning of the period to 2,341,716.35 yuan at the end of the period, a decrease of 2.09%[109] - The company's investment in Huayu Shurong Technology (Shanghai) Co., Ltd. remained stable at 100,000 yuan with no changes during the period[111] - The investment in Wuhan Xinghe Shumei Technology Co., Ltd. showed a significant increase, reaching 4,688,440.46 yuan at the end of the period[111] - The investment in Hubei Xinghua Jiaoshou Information Technology Co., Ltd. increased by 92,754.04 yuan, reaching 4,239,203.00 yuan at the end of the period[111] - The investment in Wuhan Diechi Technology Co., Ltd. decreased by 555,143.00 yuan, resulting in a final balance of 5,387,679.72 yuan[111] - The total investment in joint ventures and associates decreased by 462,388.96 yuan, ending at 21,726,842.72 yuan[111] - The company's non-trading equity investments decreased from 10,074,026.93 yuan to 8,686,831.54 yuan, with significant reductions in investments in Hunan, Guizhou, and Heilongjiang Baiwang Jinfu Technology Co., Ltd.[114] - The company received dividend income of 700,000 yuan from its strategic equity investments, with the largest portion coming from Hunan Baiwang Jinfu Technology Co., Ltd.[115] - The company's fixed assets decreased from 417,394,111.73 yuan to 407,706,166.22 yuan, primarily due to depreciation and disposal of assets[119][122] - The company's construction in progress increased by 918.72%, reaching 122,123.90 yuan, mainly due to the purchase of equipment that has not yet been accepted[126] - The company's intangible assets increased by 45.32% compared to the beginning of the period, mainly due to the capitalization of self-developed projects that met the criteria for intangible assets[134] - The proportion of intangible assets formed through internal R&D accounted for 43.88% of the total intangible assets balance[132] - The company's development expenditure decreased by 100% compared to the beginning of the period, as self-developed projects meeting capitalization criteria were transferred to intangible assets[136] - The company's accounts payable decreased by 38.67% compared to the beginning of the period, mainly due to the repayment of due payments[148] - The company's notes payable increased by 63.48% compared to the beginning of the period, primarily due to an increase in business settled through bank acceptance bills[145] - The company's short-term borrowings increased by 3.24% compared to the beginning of the period, reaching 681,637,772.89 yuan[143] - The company's contract liabilities decreased by 6.57% compared to the beginning of the period, totaling 80,622,957.30 yuan[150] - The company's employee compensation payable decreased by 54.23% compared to the beginning of the period, totaling 35,609,415.85 yuan[151] - The company's prepaid equipment and software payments decreased by 0.76% compared to the beginning of the period, totaling 4,369,856.52 yuan[141] - The company's partnership investment cost and investment income (equity method) increased by 0.87% compared to the beginning of the period, totaling 519,497,571.96 yuan[141] - The company's cash and cash equivalents decreased by 9.90% from the beginning of the period, totaling 867,982,046.13 yuan at the end of the period[161] - The company's total employee compensation decreased by 54.24% compared to the beginning of the period, mainly due to the payment of accrued employee compensation from the previous year[155] - Total liabilities decreased from 75,758,783.96 yuan to 69,086,297.45 yuan, a reduction of 8.81%[167] - One-year non-current liabilities increased slightly from 32,733,180.22 yuan to 32,867,018.02 yuan[170] - Long-term prepaid expenses for decoration and maintenance decreased from 5,611,894.19 yuan to 4,859,535.05 yuan[173] - Deferred income increased by 528.57% due to new project subsidies, reaching 4,400,000.00 yuan[199] - Lease liabilities decreased by 54.73% from 317,586.61 yuan to 143,764.92 yuan[192] - Long-term payables decreased from 42,551,825.28 yuan to 33,813,539.58 yuan[194] - Government subsidies for the "2023 Provincial Manufacturing High-Quality Development Special Fund" amounted to 3,200,000.00 yuan[199] - The balance of other current liabilities decreased from 10,314,541.08 yuan to 7,819,252.29 yuan[190] - The balance of technical licensing and service fees decreased from 1,610,682.80 yuan to 1,297,298.01 yuan[173] - The balance of prepaid expenses decreased from 36,154,831.23 yuan to 33,877,718.95 yuan[167]