Century Iron and Steel Industrial : Notice on the Board of Directors approving the restatement of financial statements for each period from fiscal 2020 to the 3rd quarter of fiscal 2021

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Provided by: Century Iron And Steel Industrial Co.,Lt
SEQ_NO	7	Date of announcement	2022/03/31	Time of announcement	21:08:38
Subject	Notice on the Board of Directors approving the restatement of financial statements for each period from fiscal 2020 to the 3rd quarter of fiscal 2021
Date of events	2022/03/31	To which item it meets	paragraph 30
Statement	1.Date of occurrence of the event:2022/03/31 2.Year/Quarter of the corrected or restated financial reports:Company restatement of financial statements for each period from fiscal 2020 to the third quarter of fiscal 2021 3.Please specify as correction or restatement:as followings 4.Cause of occurrence:Due to the restatement of the financial statements of our significant subsidiary,Century Wind Power Co. Ltd., in addition to the reassessment of variations in consideration (bonus),the Company has restated the financial statements for each period from fiscal 2020 to the third quarter of 2021 due to the impact of the amount exceeding the threshold for restatement of financial statements as stipulated in Article 6 of the Securities and Exchange Act, however, the restatement has no impact on the Company's operations. 5.Deadline set by the Competent authority for correction or restatement: NA 6.Main differences from the previously publicly announced financial reports:(A)The Company has restated its individual financial statements for each period from fiscal 2020 to fiscal 2021 with the following discrepancies and effects: (1) December 31, 2020/Fiscal 2020 Individual Financial Statements Prior to restatement Post restatement Amount affected investments accounted for using equity method 3,055,685 2,838,216 (217,469) Contractual assets-Non-Current 209,564 257,061 47,497 Retained earnings (accumulated deficit) 1,487,564 1,317,592 (169,972) Net operating revenue 4,017,698 4,065,195 47,497 Share of profits and losses of affiliated companies and joint ventures recognized under the equity method 433,043 215,574 (217,469) Profit (loss) for the current period 935,156 765,184 (169,972) (B)The Company has restated its consolidated financial statements for the period from the fourth quarter of fiscal 2020 to the third quarter of fiscal 2021, with the following discrepancies and effects: (1) December 31, 2020/Fiscal 2020 Prior to restatement Post restatement Amount affected Other accounts receivable 8,198 97,588 89,390 Contractual assets-Non-Current 209,565 257,062 47,497 Contractual liabilites-Current 198,551 645,504 446,953 Unappropriated retained earnings (accumulated deficit) 1,487,564 1,317,592 (169,972) Non-controlling interest 2,382,867 2,242,773 (140,094) Net operating revenue 6,408,626 5,727,858 (680,768) Operating costs 4,529,989 4,248,677 (281,312) Tax expense 303,575 214,185 (89,390) Profit (loss) for the current period 1,172,997 862,931 (310,066) (2) March 31, 2021 / Q1 FY2021 Prior to restatement Post restatement Amount affected Contractual assets-Current 2,077,705 2,075,710 (1,995) Other accounts receivable 9,889 99,279 89,390 Contractual liabilites-Current 22,655 407,763 385,108 Current tax liabilites 386,111 389,447 3,336 Unappropriated retained earnings (accumulated deficit) 1,730,635 1,564,452 (166,183) Non-controlling interest 2,248,057 2,113,191 (134,866) Net operating revenue 1,664,480 1,676,832 12,352 Tax expense 82,670 86,005 3,335 Profit (loss) for the current period 314,620 323,637 9,017 (3) June 30, 2021 / Q2 FY2021 Prior to restatement Post restatement Amount affected Contractual assets-Current 2,762,413 2,402,480 (359,933) Other accounts receivable 9,436 98,826 89,390 Current tax liabilites 234,076 240,293 6,217 Unappropriated retained earnings (accumulated deficit) 2,153,205 2,006,794 (146,411) Non-controlling interest 2,601,319 2,470,970 (130,349) Net operating revenue 4,099,345 4,035,311 (64,034) Operating costs 3,021,364 2,917,807 (103,557) Tax expense 194,274 200,491 6,217 Profit (loss) for the current period 833,978 867,284 33,306 (4) September 30, 2021 / Q3 FY2021 Prior to restatement Post restatement Amount affected Contractual assets-Current 4,101,883 3,697,737 (404,146) Other accounts receivable 348,227 437,617 89,390 Current tax liabilites 301,918 300,653 (1,265) Unappropriated retained earnings (accumulated deficit) 1,771,679 1,600,263 (171,416) Non-controlling interest 2,997,188 2,855,113 (142,075) Net operating revenue 7,390,118 7,281,872 (108,246) Operating costs 5,519,062 5,415,506 (103,556) Tax expense 352,518 351,253 (1,265) Profit (loss) for the current period 1,350,802 1,347,377 (3,425) 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