United Renewable Energy : Announce on behalf of subsidiary GES Energy Middle East FZE, change of Accounting Policy or Accounting Evaluation items from 2021/12/01
Announce on behalf of subsidiary GES Energy Middle
East FZE, change of Accounting Policy or Accounting
Evaluation items from 2021/12/01
Date of events
2021/12/13
To which item it meets
paragraph 9
Statement
1.Date of the board of directors' resolution:2021/12/13
2.Nature of the change:As per Regulations Governing the Preparation of
Financial Reports by Securities Issuers, in order to reasonably reflect
future economic value of the assets, GES Energy Middle East FZE( GES ME)
appointed Diwan Financial Advisory Service Co., Ltd (Diwan) to re-evaluated
useful life of production and facility equipment, and an item-by-item
analysis and review opinion on the reasonableness of the nature of the
change in accounting policy by certified public accountant was provided.
3.Reason for the change:GES ME claim that solar power generated equipment
have longer useful life than was original assumed. A change in amortization
period is necessary in order to reflect true useful life.
4.Changed period for retrospective application of the new accounting policy:
2021/12/01
5.The line items affected and the actual effect for the year
before accounting change:The change should cause 2021 depreciation cost to
decrease by USD 40,065.07.
6.Actual effect on the opening balance of retained earnings for
the past accounting year:n/a
7.The reasonableness and necessity for the change in accounting policy
or accounting estimate after the beginning of the accounting year:
According to Diwan��s assessment report, GES ME current equipment��s useful
life already exceeded original useful life. After process of industrial,
functional and economic analysis, the useful life of GES ME solar power
generated equipment should extend from 20 years to 27-31 years.
8.If the decided effect is impracticable, specify the reasons
why retrospective application is impracticable, and how and from
when the accounting policy change will be applied:n/a
9.If the decided effect is impracticable, the opinion provided by the CPA
about the effect of the audit opinion for the accounting year
preceding the accounting change:n/a
10.Opinion expressed by the CPA regarding itemized analysis
of reasonableness:
The review opinion on the reasonableness of the nature of the change by May
Huang (CPA) of KPMG: The useful life of the company's production machinery
and facility will increased from 20 years to 27-31 years. The aforementioned
evaluation is feasible and resonable through comprehensive industry,
functional and economical analysis.
11.Objection or reservation opinion from the independent directors:n/a
12.Countermeasures:n/a
13.Any other matters that need to be specified:n/a
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United Renewable Energy Co. Ltd. published this content on 13 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 December 2021 08:25:13 UTC.
United Renewable Energy Co., Ltd., formerly Neo Solar Power Corporation is a Taiwan-based company principally engaged in the manufacture and distribution of solar cells and modules. The Company's main products include mono-crystalline silicon solar cells and multi-crystalline silicon solar cells. Its products are applied in the manufacture of solar thermal heaters, solar battery modules, computers, watches and power generation, among others. The Company distributes its products within domestic market and to overseas markets, including Japan, German, the United States, the United Kingdom and others.
United Renewable Energy : Announce on behalf of subsidiary GES Energy Middle East FZE, change of Accounting Policy or Accounting Evaluation items from 2021/12/01
UNITED RENEWABLE ENERGY CO., LTD. 
