Nanjing Chemical Fiber: Announcement On Changes And Impacts Of Accounting Policies

Negotiable securities

: Nanjing chemical fiber securities code: 600889 Code: pro 2014- 034

Announcement of Nanjing chemical fiber Limited by Share Ltd on accounting policy changes and impacts

The board of directors and all directors of the company guarantee that there is no false record, misleading statement or major omission in the contents of this announcement, and shall bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.

Important note:

The accounting policy change is to implement and implement the accounting standards of Accounting Standards No. second - long-term equity investment, accounting standards for Enterprises No. thirty-ninth - fair value measurement, revised and promulgated by the Ministry of Finance in 2014, and make corresponding changes to the company's accounting policies.

Summary of accounting policy changes

Since 2014, the Ministry of finance has revised and promulgated nine accounting standards for enterprises, Accounting Standards No. second - long-term equity investments, accounting standards for Enterprises No. thirtieth - financial statements and so on, and has been implemented in July 1, 2014.

The eighth session of the company

The eighth meeting deliberated and approved that the company should comply with the requirements of the Ministry of finance, implement the specific requirements of the relevant new accounting standards, adjust the relevant accounting policies of the company, and formally execute the documents from the date specified.

Two, the specific circumstances of accounting policy changes and their impact on the company.

On the basis of full exchange and communication between the Certified Accountants (special general partnership), the company's financial department has assessed by the financial department of the Enterprise Accounting Standards No. second - long-term equity investments, accounting standards for Enterprises No. ninth - employee salaries, accounting standards for Enterprises No. thirtieth - financial statements, accounting standards for Enterprises No. thirty-third - consolidated financial statements, accounting standards for Enterprises No. thirty-ninth - fair value measurement, accounting standards for Enterprises No. fortieth - joint venture arrangements, accounting standards for Enterprises No. forty-first - disclosure of interests in other main bodies, accounting standards for Enterprises No. thirty-seventh - financial instruments, and accounting standards for enterprises - the basic principles of business accounting standards will not affect the amount of financial statements of the company in the year of 2013. In Jiangsu, the company's audit service.

Three. Concluding observations of the board of auditors, independent directors and board of supervisors

The audit committee held that: 1. The change of the accounting policy of this company is strictly based on the revision of the Ministry of finance or the newly issued Enterprise Accounting Standard No. second - long-term equity.

Reasonable and effective changes and adjustments have been made in specific accounting standards such as "accounting standards for Enterprises No. ninth - employee salaries" and so on. The company has fully communicated and exchanged with the Jiangsu notarial accounting firm (special general partnership) of the audit service institution, and has seriously assessed the impact on accounting and subjects of the company. 2, the change of accounting policy will not affect the amount of the financial statements of the company in 2013.

The changed accounting policy can objectively and fairly reflect the company's financial status and operating results, which is in line with the interests of the company as a whole and the shareholders of the company. 3, the company agrees to strictly alter the relevant accounting policies of the company according to the requirements of the Ministry of finance, and begins to implement the relevant documents from the date of the relevant documents.

The independent directors believe that the company's accounting policy has been changed according to the relevant standards promulgated by the Ministry of finance.

The revised accounting policy is in line with the relevant provisions of the Ministry of finance, the China Securities Regulatory Commission and the Shanghai stock exchange. It can objectively and fairly reflect the company's current financial and operating results, which is in line with the interests of the company and all shareholders.

The decision procedure of this accounting policy change is in conformity with the relevant laws, regulations, normative documents and the provisions of the articles of association.

Agree to change the accounting policy of the company.

The board of supervisors believes that the change of the accounting policy is a reasonable change and adjustment based on the revised or newly promulgated specific accounting standards of the Ministry of finance, which is beneficial to the more objective and fair reflection of the company's financial situation and management results.

The relevant decision-making procedures of the accounting policy changes comply with the relevant laws and regulations and the articles of association and so on. There is no damage to the interests of the company and shareholders.

The board of supervisors agreed that the company should implement relevant accounting policy changes strictly according to the relevant requirements of the Ministry of finance.

Four. Reference documents

1. Resolution of the eighth session of the eighth board of directors of the company

2. Independent directors' independent opinions on changes in accounting policies.

3, the board's opinion on changes in accounting policies

4. The board's opinion on changes in accounting policies

Notice hereby.

Nanjing chemical fiber Limited by Share Ltd

Board of directors

November 4th two 14