登海种业(002041) - 2023 Q2 - 季度财报

Dividend and Stock Plans - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[2] - There were no stock incentive plans or employee stock ownership plans implemented during the reporting period[3] Social Contributions - The company made social donations amounting to 370,000 yuan, including 100,000 yuan for cultural promotion in Haodeng Village and 270,000 yuan for cultural construction in Zhangye Ganzu District[9] Financial Asset Management - The company manages financial assets with a business model aimed at collecting contractual cash flows and selling financial assets[46] - Financial assets are initially measured at fair value, with transaction costs directly expensed for those measured at fair value through profit or loss[48] - The company assesses the characteristics of contractual cash flows to determine if they consist solely of payments of principal and interest[67] - Expected credit losses are measured based on the weighted average of credit losses for financial instruments at risk of default[78] - The company recognizes impairment losses for financial assets measured at amortized cost and those measured at fair value through other comprehensive income[79] - Financial liabilities are initially measured at fair value, with transaction costs included in the initial measurement for those measured at amortized cost[51] - The company terminates recognition of financial assets when they are transferred and the company retains no significant risks and rewards[55] - The company evaluates whether financial assets have experienced significant credit deterioration based on payment delays exceeding 30 days[80] - The company classifies financial assets not measured at fair value through profit or loss as either at amortized cost or at fair value through other comprehensive income[65] - The company measures expected credit losses for receivables over the entire duration, with specific provisions for significant increases in credit risk[105] - The company recognizes contract assets when it has the right to receive consideration for goods or services transferred to customers, contingent on factors other than the passage of time[94] Inventory Management - The company uses a weighted average method for inventory valuation, accounting for costs at the end of the month[89] - The company applies a perpetual inventory system for inventory management[112] - The company assesses the recoverable amount of inventory based on estimated selling prices minus estimated costs and related taxes[91] - The company classifies inventory into categories such as raw materials, finished goods, and work in progress[109] Investment Accounting - The company reports that the initial investment cost for long-term equity investments is determined based on the fair value of the assets paid, liabilities assumed, and equity securities issued at the acquisition date[124] - The company recognizes goodwill when the acquisition cost exceeds the fair value of identifiable net assets acquired[125] - The company uses the cost method for accounting long-term equity investments, adjusting the cost for additional investments or recoveries[149] - The company confirms investment income based on the cash dividends or profits declared by the invested unit[150] - The company classifies investment properties into categories such as leased land use rights and buildings held for rental or capital appreciation[153] - The company employs a straight-line method for amortizing land use rights and investment properties[155] Depreciation and Amortization - The depreciation rates for buildings range from 2.71% to 9.5%, while machinery and equipment range from 9.5% to 19%[158] - The company capitalizes borrowing costs incurred during the construction of fixed assets until the assets are ready for use[159] - The company assesses impairment losses for non-current assets held for sale, recognizing losses when the carrying amount exceeds the fair value less selling costs[148] - The company recognizes research and development expenses as incurred, while development phase expenses are capitalized as intangible assets if specific criteria are met[171] - Long-term equity investments are assessed for impairment, and if the recoverable amount is less than the carrying amount, an impairment provision is recognized[173] - Investment properties are valued at the lower of cost and recoverable amount, with impairment provisions recognized if the recoverable amount is below cost[172] - The company capitalizes borrowing costs directly attributable to the acquisition or production of qualifying assets, while other borrowing costs are expensed as incurred[186] - Intangible assets with a finite useful life are amortized on a straight-line basis over their estimated useful life, while those with an indefinite life are tested for impairment annually[192] Impairment Testing - The company conducts impairment tests for fixed assets when there are indications of impairment, recognizing any loss in the current period[173] - The company evaluates the recoverable amount of assets, including goodwill, and recognizes impairment losses if necessary[176] - The company’s internal research and development projects are categorized into research and development phases, with the latter being more advanced and likely to result in new products or technologies[192] - The company conducts annual impairment tests for goodwill arising from business combinations[198] - Long-term deferred expenses are amortized over the benefit period, which exceeds one year[198] - If long-term deferred expense items do not benefit future accounting periods, the unamortized balance is charged to current profit and loss[198] Related Party Transactions - The company has no significant related party transactions during the reporting period[61] - The company does not report any related party transactions involving joint external investments during the reporting period[138]