Today's Information |
Provided by: Century Iron And Steel Industrial Co.,Lt | |||||
SEQ_NO | 3 | Date of announcement | 2022/08/15 | Time of announcement | 23:11:25 |
Subject | Notice the Company approving the restatement of financial statements for each period from fiscal 2018 to the first quarter of fiscal 2022 | ||||
Date of events | 2022/08/15 | To which item it meets | paragraph 30 | ||
Statement | 1.Date of occurrence of the event:2022/08/15 2.Year/Quarter of the corrected or restated financial reports:Company restatement of financial statements for each period from fiscal 2018 to the first quarter of fiscal 2022 3.Please specify as correction or restatement:restatement 4.Cause of occurrence:The Company re-evaluated the accounting for the sales of steel and outsourced engineering contracts. As the amount affected exceeds the threshold for restating financial reports stated in Article 6 of the Implementing Rule of Securities and Exchange Act, the Company restated its financial reports from 2018 Q1 to 2021 Q1; there is no effect on the operations of the Company after the restatement. 5.Deadline set by the Competent authority for correction or restatement: NA 6.Main differences from the previously publicly announced financial reports:(I)Differences and effects regarding the restatement of the parent company only financial reports for each period from 2018 to 2021 are as follows: (1)31 December 2018/2018 Parent Company Only Financial Report Before restatement After restatement Amount affected Net Notes Receivable 229,886 208,609 (21,277) Notes Receivables - Related Parties - 21,277 21,277 Net Accounts Receivable 287,766 275,632 (12,134) Accounts Receivable - Related Parties 82,292 94,426 12,134 Property, Plant and Equipment 2,920,069 2,857,364 (62,705) Deferred Income Tax Asset 33,678 46,219 12,541 Notes Payable 388,642 349,092 (39,550) Notes Payable - Related Parties - 39,550 39,550 Other Payables 111,261 106,742 (4,519) Other Payables - Related Parties 55,175 59,693 4,519 Undistributed Earnings 185,654 135,490 (50,164) Net Operating Income 1,736,002 1,514,474 (221,528) Operating Costs 1,496,487 1,337,664 (158,823) Income Tax Expenses 32,805 20,264 (12,541) Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (2)31 December 2019/2019 Parent Company Only Financial Report Before restatement After restatement Amount affected Net Accounts Receivable 657,247 651,612 (5,635) Net Accounts Receivable - Related Parties 40,686 46,321 5,635 Property, Plant and Equipment 2,175,307 2,166,520 (8,787) Right-of-Use Asset 531,941 511,707 (20,234) Deferred Income Tax Asset 47,588 53,393 5,804 Notes Payable 422,614 396,686 (25,928) Notes Payable - Related Parties - 25,928 25,928 Other Payables 191,402 187,696 (25,928) Other Payables - Related Parties 69 3,775 3,706 Undistributed Earnings 830,263 807,046 (23,217) Operating Costs 2,541,258 2,541,244 (14) Management Fees 125,699 124,925 (774) Other Gains and Losses 680,154 713,050 32,896 Income Tax Expenses 70,034 76,771 6,737 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (3)31 December 2020/2020 Parent Company Only Financial Report Before restatement After restatement Amount affected Investments Accounted for Using the Equity Method 2,838,216 2,838,216 - Contractual Asset - Non-Current 257,061 257,061 - Property, Plant and Equipment 2,539,674 2,531,049 (8,624) Deferred Income Tax Asset 85,733 91,085 5,352 Notes Payable 217,730 201,059 (16,671) Notes Payable - Related Parties 3,204 19,875 16,671 Accounts Payable 370,492 363,787 (6,705) Accounts Payable - Related Parties 41,872 48,577 6,705 Other Payables 207,623 206,880 (743) Other Payables - Related Parties 4 747 743 Other Non-Current Liabilities 397,446 415,579 18,133 Undistributed Earnings 1,317,592 1,296,187 (21,405) Net Operating Income 4,065,195 4,065,195 - Operating Costs 3,143,112 3,142,949 (163) Management Fees 130,938 129,712 (1,226) Other Gains and Losses 31,218 30,343 (875) Share of Profit or Loss of Subsidiaries, Affiliates, and Joint Ventures Recognized Using the Equity Method 215,574 215,574 - Income Tax Expenses 147,263 147,715 452 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (4)31 December 2021/2021 Parent Company Only Financial Report Before restatement After restatement Amount affected Property, Plant and Equipment 2,704,669 2,696,208 (8,461) Deferred Income Tax Asset 168,227 173,126 4,899 Accounts Payable 432,267 420,522 (11,745) Accounts Payable - Related Parties 208,224 219,969 11,745 Other Payables 226,768 221,634 (5,134) Other Payables - Related Parties 1,583 6,717 5,134 Other Non-Current Liabilities 353,542 369,575 16,033 Undistributed Earnings 1,768,911 1,749,316 (19,595) Operating Costs 4,664,951 4,664,788 (163) Other Gains and Losses 182,921 185,021 2,100 Income Tax Expenses 179,829 180,282 453 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (II)The Company has restated its consolidated financial statements for the period from the first quarter of fiscal 2018 to the first quarter of fiscal 2022, with the following discrepancies and effects: (1)March 31, 2018 / Q1 FY2018 Before restatement After restatement Amount affected Net Accounts Receivable 809,480 651,392 (158,088) Net Accounts Receivable - Related Parties - 158,088 158,088 Property, Plant and Equipment 2,571,508 2,530,074 (41,434) Deferred Income Tax Asset 31,084 39,341 8,287 Notes Payable 209,122 188,010 (21,112) Notes Payable - Related Parties - 21,112 21,112 Accounts Payable 284,264 243,368 (40,896) Other Payables - Related Parties - 40,896 40,896 Undistributed Earnings 275,150 242,003 (33,147) Revenue 412,798 272,253 (140,545) Operating Costs 350,827 251,716 (99,111) Income Tax Expenses 562 (7,725) (8,287) Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company & Shih Hsin Steel Co. are substantial related parties (2)June 30, 2018 / Q2 FY2018 Before restatement After restatement Amount affected Net Accounts Receivable 357,467 226,668 (130,799) Net Accounts Receivable - Related Parties - 130,799 130,799 Property, Plant and Equipment 2,928,589 2,870,503 (58,086) Deferred Income Tax Asset 29,159 40,776 11,617 Notes Payable 307,659 277,622 (30,037) Notes Payable - Related Parties - 30,037 30,037 Accounts Payable 151,160 303,266 152,106 Other Payables - Related Parties - 66,957 66,957 Contract liability-current 219,063 - (219,063) Undistributed Earnings 199,103 152,643 (46,469) Revenue 817,962 616,698 (201,264) Operating Costs 700,600 557,422 (143,178) Income Tax Expenses 24,090 12,473 (11,617) Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company & Shih Hsin Steel Co. are substantial related parties (3)September 30, 2018 / Q3 FY2018 Before restatement After restatement Amount affected Net Accounts Receivable 449,953 297,468 (152,485) Net Accounts Receivable - Related Parties - 152,485 152,485 Property, Plant and Equipment 3,169,397 3,106,692 (62,705) Deferred Income Tax Asset 29,110 41,651 12,541 Notes Payable 306,520 263,769 (42,751) Notes Payable - Related Parties - 42,751 42,751 Other Payables 249,272 116,745 (132,527) Other Payables - Related Parties - 132,527 132,527 Undistributed Earnings 212,097 161,933 (50,164) Revenue 1,245,111 1,023,583 (221,528) Operating Costs 1,061,842 903,019 (158,823) Income Tax Expenses 28,709 16,168 (12,541) Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (4)December 31, 2018 / Q4 FY2018 Before restatement After restatement Amount affected Net Note Receivable 229,886 208,609 (21,277) Net Note Receivable - Related Parties - 21,277 21,277 Net Accounts Receivable 287,766 275,632 (12,134) Net Accounts Receivable - Related Parties - 12,134 12,134 Property, Plant and Equipment 3,382,880 3,320,175 (62,705) Deferred Income Tax Asset 33,678 46,219 12,541 Notes Payable 441,675 402,125 (39,550) Notes Payable - Related Parties - 39,550 39,550 Other Payables 135,149 129,901 (5,248) Other Payables - Related Parties - 5,248 5,248 Undistributed Earnings 185,654 135,490 (50,164) Revenue 1,654,761 1,433,233 (221,528) Operating Costs 1,424,097 1,265,274 (158,823) Income Tax Expenses 32,805 20,264 (12,541) Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (5)March 31, 2019 / Q1 FY2019 Before restatement After restatement Amount affected Net Accounts Receivable 326,904 315,589 (11,315) Net Accounts Receivable - Related Parties - 11,315 11,315 Property, Plant and Equipment 3,935,778 3,873,073 (62,705) Deferred Income Tax Asset 38,164 50,705 12,541 Notes Payable 481,580 457,412 (24,168) Notes Payable - Related Parties - 24,168 24,168 Other Payables 144,566 135,425 (9,141) Other Payables - Related Parties - 9,141 9,141 Undistributed Earnings 200,039 149,875 (50,164) Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (6)June 30, 2019 / Q2 FY2019 Before restatement After restatement Amount affected Net Accounts Receivable 78,210 68,249 (9,961) Net Accounts Receivable - Related Parties - 9,961 9,961 Property, Plant and Equipment 4,434,823 4,372,118 (62,705) Deferred Income Tax Asset 43,431 55,972 12,541 Notes Payable 440,481 401,493 (38,988) Notes Payable - Related Parties - 38,988 38,988 Other Payables 388,824 383,166 (5,658) Other Payables - Related Parties - 5,658 5,658 Undistributed Earnings 115,400 65,236 (50,164) Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (7)September 30, 2019 / Q3 FY2019 Before restatement After restatement Amount affected Net Accounts Receivable 131,459 125,134 (6,325) Net Accounts Receivable - Related Parties - 6,325 6,325 Other Receivable 1,727 1,621 (106) Other Receivable - Related Parties - 106 106 Property, Plant and Equipment 3,473,245 3,464,445 (8,800) Right-of-Use Asset 893,183 872,423 (20,760) Deferred Income Tax Asset 44,220 50,132 5,912 Notes Payable 351,091 314,335 (36,756) Notes Payable - Related Parties - 36,756 36,756 Other Payables 517,151 512,412 (4,736) Other Payables - Related Parties - 4,736 4,736 Undistributed Earnings 698,792 675,144 (23,648) Management Fees 170,080 170,831 (249) Other Gains and Losses 684,794 717,690 32,896 Income Tax Expenses 35,312 41,941 6,629 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (8)December 31, 2019 / Q4 FY2019 Before restatement After restatement Amount affected Net Note Receivable 86,531 86,489 (42) Net Note Receivable - Related Parties - 42 42 Net Accounts Receivable 657,247 651,612 (5,635) Net Accounts Receivable - Related Parties - 5,635 5,635 Other Receivable 9,897 9,855 (42) Other Receivable - Related Parties - 42 42 Property, Plant and Equipment 3,828,687 3,819,900 (8,787) Right-of-Use Asset 1,349,945 1,329,711 (20,234) Deferred Income Tax Asset 47,588 53,392 5,804 Notes Payable 538,831 512,903 (25,928) Notes Payable - Related Parties - 25,928 25,928 Other Payables 288,643 284,937 (3,706) Other Payables - Related Parties - 3,706 3,706 Undistributed Earnings 830,263 807,406 (23,217) Operating Costs 2,032,139 2,032,125 (14) Operating expense 241,539 230,765 (774) Other Gains and Losses 680,726 713,622 32,896 Income Tax Expenses 70,034 76,771 6,737 (9)March 31, 2020 / Q1 FY2020 Before restatement After restatement Amount affected Property, Plant and Equipment 4,144,128 4,135,382 (8,764) Right-of-Use Asset 1,582,372 1,562,663 (19,709) Deferred Income Tax Asset 50,065 55,756 5,691 Notes Payable 443,807 408,969 (34,838) Notes Payable - Related Parties 12,563 47,969 34,838 Other Payable 334,445 331,248 (3,197) Other Payables - Related Parties 19,249 22,446 3,197 Undistributed Earnings 945,730 922,966 (22,764) Operating Costs 960,831 960,790 (41) Management Fees 76,118 75,593 (525) Income Tax Expenses 29,226 29,339 113 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (10)June 30, 2020 / Q2 FY2020 Before restatement After restatement Amount affected Net Accounts Receivable 600,642 598,669 (1,973) Net Accounts Receivable - Related Parties 176,294 178,267 1,973 Property, Plant and Equipment 4,887,875 4,879,170 (8,705) Right-of-Use Asset 1,552,815 1,533,631 (19,184) Deferred Income Tax Asset 57,197 62,775 5,578 Notes Payable 425,584 394,142 (31,442) Notes Payable - Related Parties - 31,442 31,442 Other Payable 593,659 586,777 (6,882) Other Payables - Related Parties 25,549 32,431 6,882 Undistributed Earnings 884,803 862,492 (22,311) Operating Costs 1,875,110 1,875,028 (82) Management Fees 116,724 115,674 (1,050) Income Tax Expenses 99,731 99,957 226 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (11)September 30, 2020 / Q3 FY2020 Before restatement After restatement Amount affected Net Accounts Receivable 956,178 953,960 (2,218) Net Accounts Receivable - Related Parties - 2,218 2,218 Property, Plant and Equipment 5,529,113 5,520,449 (8,664) Deferred Income Tax Asset 65,356 70,820 5,464 Notes Payable 684,798 626,991 (57,807) Notes Payable - Related Parties 6,080 63,887 57,807 Other Payable 725,587 714,725 (10,862) Other Payables - Related Parties - 10,862 10,862 Other non-current liabilities 423,008 441,667 18,659 Undistributed Earnings 1,170,469 1,148,610 (21,859) Operating Costs 3,244,685 3,244,562 (123) Management Fees 220,108 218,883 (1,225) Other Gains and Losses 43,231 42,881 (350) Income Tax Expenses 196,684 197,024 340 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (12)December 31, 2020 / Q4 FY2020 After restatement Second Restatement Amount affected Other Receivable 97,588 97,588 - Property, Plant and Equipment 6,322,217 6,313,593 (8,624) Right-of-Use Asset 257,062 257,062 - Deferred Income Tax Asset 89,149 94,501 5,352 Contract liabilities 645,504 645,504 - Notes Payable 397,781 376,190 (21,591) Notes Payable - Related Parties 22,793 44,384 21,591 Accounts Payable 471,340 464,635 (6,705) Accounts Payable - Related Parties 395,591 402,296 6,705 Other Payable 593,365 589,987 (3,378) Other Payables - Related Parties 1,184 4,562 3,378 Other non-current liabilities 397,531 415,664 18,133 Undistributed Earnings 1,317,592 1,296,187 (21,405) Non-controlling Interests 2,242,773 2,242,773 - @Revenue 5,727,858 5,727,858 - Operating Costs 4,248,677 4,248,514 (163) Management Fees 291,270 290,044 (1,226) Other Gains and Losses 26,245 25,370 (875) Income Tax Expenses 214,185 214,637 452 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (13)March 31, 2021 / Q1 FY2021 After restatement Second Restatement Amount affected Contract liabilities-non-current 2,075,710 2,075,710 - Other Receivable 99,279 99,279 - Property, Plant and Equipment 6,973,188 6,964,605 (8,583) Deferred Income Tax Asset 94,560 99,799 5,239 Contract liabilities 407,763 407,763 - Notes Payable 429,717 422,485 (7,232) Notes Payable - Related Parties 29,904 37,136 7,232 Accounts Payable 780,796 775,594 (5,202) Accounts Payable - Related Parties 218,459 223,661 5,202 Other Payable 917,473 915,369 (2,104) Other Payables - Related Parties 30,698 32,802 2,104 Current income tax liabilities 389,447 389,447 - Other non-current liabilities 386,561 440,170 17,609 Undistributed Earnings 1,564,452 1,543,499 (20,953) Non-controlling Interests 2,113,191 2,113,191 - @Revenue 1,676,823 1,676,823 - Operating Costs 1,178,523 1,178,482 (41) Other Gains and Losses 20,398 20,922 524 Income Tax Expenses 86,005 86,118 113 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (14)June 30, 2021 / Q2 FY2021 After restatement Second Restatement Amount affected Contract liabilities-non-current 2,402,480 2,402,480 - Other Receivable 98,826 98,826 - Property, Plant and Equipment 8,080,130 8,071,588 (8,542) Deferred Income Tax Asset 122,915 128,040 5,125 Notes Payable 534,844 513,066 (21,778) Notes Payable - Related Parties 4,940 26,718 21,778 Accounts Payable 1,160,229 1,156,427 (3,802) Accounts Payable - Related Parties 872,988 868,965 (4,023) Other Payable 4,074 8,070 4,023 Other Payables - Related Parties 240,293 240,293 - Current income tax liabilities 389,447 389,447 - Other non-current liabilities 375,498 392,581 17,083 Undistributed Earnings 2,006,794 1,986,294 (20,500) Non-controlling Interests 2,470,970 2,470,970 - @Revenue 4,035,311 4,035,311 - Operating Costs 2,917,807 2,917,725 (82) Other Gains and Losses 189,598 190,648 1,050 Income Tax Expenses 200,491 200,718 227 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (15)September 30, 2021 / Q3 FY2021 After restatement Second Restatement Amount affected Contract liabilities-non-current 3,697,737 3,697,737 - Other Receivable 437,617 437,616 (1) Other Receivable - Related Parties 2 3 1 Property, Plant and Equipment 8,837,289 8,828,788 (8,501) Deferred Income Tax Asset 191,047 196,059 5,012 Accounts Payable 1,241,672 1,220,858 (20,814) Accounts Payable - Related Parties 476,179 496,993 20,814 Other Payable 858,237 842,037 (16,200) Other Payables - Related Parties 2,571 18,771 16,200 Current income tax liabilities 300,653 300,653 - Other non-current liabilities 364,521 381,079 16,558 Undistributed Earnings 1,600,263 1,580,216 (20,047) Non-controlling Interests 2,470,970 2,470,970 - @Revenue 7,281,872 7,281,872 - Operating Costs 5,415,506 5,415,383 (123) Other Gains and Losses 178,301 179,876 1,575 Income Tax Expenses 351,253 351,593 340 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (16)December 31, 2021 / Q4 FY2021 Before restatement After restatement Amount affected Property, Plant and Equipment 9,409,587 9,401,126 (8,461) Deferred Income Tax Asset 267,359 272,258 4,899 Accounts Payable 748,018 736,273 (11,745) Accounts Payable - Related Parties 191,640 203,385 11,745 Other Payable 802,744 796,192 (6,552) Other Payables - Related Parties 2,395 8,947 6,552 Other non-current liabilities 353,541 369,574 16,033 Undistributed Earnings 1,768,911 1,749,316 (19,595) Operating Costs 7,795,289 7,795,126 (163) Other Gains and Losses 203,360 205,460 2,100 Income Tax Expenses 380,656 381,109 (453) Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party (17)March 31, 2022 / Q1 FY2022 Before restatement After restatement Amount affected Property, Plant and Equipment 10,061,763 10,053,343 (8,420) Deferred Income Tax Asset 286,671 291,456 4,785 Accounts Payable 606,130 597,850 (8,280) Accounts Payable - Related Parties 194,857 203,137 8,280 Other Payable 1,577,395 1,572,211 (5,184) Other Payables - Related Parties 5,584 10,768 5,184 Other non-current liabilities 342,560 358,067 15,507 Undistributed Earnings 1,374,708 1,355,566 (19,142) Operating Costs 1,725,306 1,725,265 (41) Other Gains and Losses 86,547 87,073 526 Income Tax Expenses 101,593 101,707 114 Name and relationship of related parties - Made additional marking that Xiang Xing Industry Limited Company is a substantial related party 7.Countermeasures:The restated financial statements for the corresponding periods have been audited (reviewed) by a certified public accountant and approved by the board of directors. The above restated financial statements will be re-announced and uploaded in accordance with regulations. 8.Any other matters that need to be specified:None |
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Century Iron and Steel Industrial Co. Ltd. published this content on 15 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 August 2022 15:23:11 UTC.