Three-Dimensional Engineering: Board of Directors Audit Committee's Explanation on the Reasonableness of the 2018 Annual Provision for Asset Impairment
Release date:
2019-11-01
Shandong Sanwei Petrochemical Engineering Co., Ltd. Board of Directors Audit Committee
Explanation on the Reasonableness of the Provision for Asset Impairment in 2018
According to relevant regulations such as the "Shenzhen Stock Exchange Rules Governing the Listing of Stocks," the "Guidelines for Standardized Operations of Companies Listed on the SME Board of the Shenzhen Stock Exchange," and the "Enterprise Accounting Standards," as a member of the Audit Committee of the Board of Directors of Shandong Sanwei Petrochemical Engineering Co., Ltd. (hereinafter referred to as the "Company"), I hereby provide the following explanation regarding the reasonableness of the Company's provision for asset impairment in 2018, following my review of the "Proposal on the Provision for Asset Impairment in 2018":
This provision for asset impairment has been made in full compliance with the "Enterprise Accounting Standards," the "Guidelines on Standardized Operations for Companies Listed on the SME Board of the Shenzhen Stock Exchange," and the company's relevant accounting policies. It reflects a prudent approach, based on impairment tests conducted according to the actual conditions of the relevant assets. As a result, the provision is well-founded and fairly represents the company's asset position, ensuring that the company's accounting information regarding asset values is more accurate, reliable, and reasonable.
Shandong Sanwei Petrochemical Engineering Co., Ltd. Board of Directors Audit Committee February 25, 2019
More news
Phone: +86-533-7993801 +86-533-7993809
Email: sdsunway@sdsunway.com.cn
Address: No. 22, Lianchang Middle Road, Linzi District, Zibo City, Shandong, China
Copyright © 2025 Shandong Sunway Chemical Group Co., Ltd. SEO