United Renewable Energy: Correction to certain content 2021 2Q financial report

0

Declaration

1.Date of occurrence of the event:2022/02/25
2.Company name:United Renewable Energy Co., Ltd.
3.Relationship with the Company (please enter "the company itself"
or "subsidiaries"):the company itself
4.Reciprocal shareholding percentage:N/a
5.Cause of occurrence:The subsidiary UREE's leasing contract with
Ministry of Economic Affairs was not recognized as right-of-use
assets and lease liabilities according to IFRS16, therefore Company
corrected some contents of the 2021 2Q financial statements.
Correction to Notes (6)(f),(r), (ac), (af) to the Consolidated
Balance Sheets
6.Information items/ statements to be corrected:Notes (6)(f)
Inventories,(r)Lease liabilities, (ac)Financial Instruments,
(af)Investing and financing activities not affecting current
cash flow to the Consolidated Balance Sheets
7.Amounts/ contents/ number of page to be corrected:Page 4:
Consolidated Balance Sheets
 Inventories                    3,054,010
 Total current assets          15,735,747
 Total assets                  31,818,920
                              -------------
 Lease liability - non-current    582,623
 Total non-current liabilities  5,307,772
 Total liabilities             17,577,982
 Total liabilities and equity  31,818,920
Page 20: Notes (6)(f)Inventories
 Construction in progress    1,629,750
 Right-of-use asset                  0
 Finished goods and products   749,935
 Raw materials                 502,288
 Work in progress              172,037
                          ---------------
                             3,054,010
1.The construction in progress listed above is
  the construction cost incurred to build the
  power plant that the Group is intending to
  sell.
Page 31: Notes (6)(r)Lease liabilities
 Non-current     582,623
Page 39:Notes (6)(ac)Financial Instruments
(ii) Liquidity risk
                       Contractual  Within 1
                       cash flows    year      1-2 years
 Non-derivative
 financial liabilities
 Bank borrowings       12,244,313  7,464,890  1,790,372
 Short-term notes and
 bills payable            200,000    200,000          -
 Lease liabilities        830,216     75,876     64,309
 Non-interest bearing
 liabilities            2,713,181  2,713,181          -
 Derivative financial
 liabilities (Note)
   Inflow              (314,989)  (314,989)          -
    Outflow               312,164    312,164          -
                       ---------- ----------  ---------
                       15,984,885 10,451,122  1,854,681

                        2-3 years  Over 3 years
 Non-derivative
 financial liabilities
 Bank borrowings        1,907,585   1,081,466
 Short-term notes and
 bills payable                  -           -
 Lease liabilities         52,947     637,084
 Non-interest bearing
 liabilities                    -           -
 Derivative financial
 liabilities (Note)
    Inflow                      -           -
    Outflow                     -           -
                        ---------  -----------
                        1,960,532   1,718,550
Page 43:Notes (6)(ac)Financial Instruments 4)
Fair value of financial instruments
 Financial liabilities measured   June 30, 2021
 at amortized cost                 Book value
 Long-term and short-term
 borrowings                        11,613,552
 Short-term notes payable             199,912
 Accounts payable (including
 related parties)                   1,476,277
 Lease liabilities                    642,043
 Preference share liabilities          22,345
 Other financial liabilities        1,236,904
                                  -------------
                                   15,191,033
Page 49:Notes (6)(af)Investing and financing activities not
affecting current cash flow

 (ii) Reconciliation of liabilities arising from financing
      activities were as follows:
                         January 1,    Cash
                            2021      flows
                         ---------- ---------
 Long-term borrowings    10,482,412 (171,009)
 Short-term borrowings    2,320,002   188,332
 Shor-term notes payable    174,810    24,927
 Lease liabilities          655,934  (38,085)
 Preference share
 liabilities                 28,282   (8,501)
 Total liabilities from
 financing activities    13,661,440   (4,336)
                           Foreign
                          exchange
                          movements     June 30,
                          and others      2021
                          ----------- ----------
 Long-term borrowings    (1,190,594)  9,120,809
 Short-term borrowings      (15,591)  2,492,743
 Shor-term notes payable         175    199,912
 Lease liabilities            24,194    642,043
 Preference share
 liabilities                   2,564     22,345
 Total liabilities from
 financing activities    (1,179,252) 12,477,852
8.Amounts/ contents/ number of page after correction:Page 4:
 Consolidated Balance Sheets
 Inventories                    3,667,201
 Total current assets          16,348,938
 Total assets                  32,432,111
                              -------------
 Lease liability - non-current  1,195,814
 Total non-current liabilities  5,920,963
 Total liabilities             18,191,173
 Total liabilities and equity  32,432,111
Page 20: Notes (6)(f)Inventories
 Construction in progress    1,629,750
 Right-of-use asset            613,191
 Finished goods and products   749,935
 Raw materials                 502,288
 Work in progress              172,037
                          ---------------
                             3,667,201
                          ---------------
1.The construction in progress listed above is
the construction cost incurred to build the
power plant that the Group is intending to sell.

Page 31: Notes (6)(r)Lease liabilities
 Non-current    1,195,814
Page 39:Notes (6)(ac)Financial Instruments (ii) Liquidity risk

                       Contractual  Within 1
                       cash flows    year      1-2 years
                       ----------  ---------  ---------
 June 30, 2021
 Non-derivative
 financial liabilities
 Bank borrowings       12,244,313  7,464,890  1,790,372
 Short-term notes and
 bills payable            200,000    200,000          -
 Lease liabilities      1,578,391     75,876     71,237
 Non-interest bearing
 liabilities            2,713,181  2,713,181          -
 Derivative financial
 liabilities (Note)
   Inflow              (314,989)  (314,989)          -
    Outflow               312,164    312,164          -
                       ---------- ----------  ---------
                       16,733,060 10,451,122  1,861,609
                       ---------- ----------  ---------

                        2-3 years  Over 3 years
                        ---------  ------------
 June 30, 2021
 Non-derivative
 financial liabilities
 Bank borrowings        1,907,585   1,081,466
 Short-term notes and
 bills payable                  -           -
 Lease liabilities         94,512   1,336,766
 Non-interest bearing
 liabilities                    -           -
 Derivative financial
 liabilities (Note)
    Inflow                      -           -
    Outflow                     -           -
                        ---------  -----------
                        2,002,097   2,418,232
                        ---------  -----------

Page 43:Notes (6)(ac)Financial Instruments 4) Fair value of
financial instruments

 Financial liabilities measured   June 30, 2021
 at amortized cost                 Book value
                                  -------------
 Long-term and short-term
 borrowings                        11,613,552
 Short-term notes payable             199,912
 Accounts payable (including
 related parties)                   1,476,277
 Lease liabilities                  1,255,234
 Preference share liabilities          22,345
 Other financial liabilities        1,236,904
                                  -------------
                                   15,804,224
                                  -------------

Page 49:Notes (6)(af)Investing and financing activities not
affecting current cash flow

 (ii) Reconciliation of liabilities arising from financing
      activities were as follows:
                         January 1,    Cash
                            2021      flows
                         ---------- ---------
 Long-term borrowings    10,482,412 (171,009)
 Short-term borrowings    2,320,002   188,332
 Shor-term notes payable    174,810    24,927
 Lease liabilities          655,934  (38,085)
 Preference share
 liabilities                 28,282   (8,501)
 Total liabilities from
 financing activities    13,661,440   (4,336)

                          Foreign
                         exchange
                         movements     June 30,
                         and others      2021
                         ---------- ---------
 Long-term borrowings     (1,190,594)  9,120,809
 Short-term borrowings       (15,591)  2,492,743
 Shor-term notes payable          175    199,912
 Lease liabilities             24,194    642,043
 Preference share
 liabilities                    2,564     22,345
 Total liabilities from
 financing activities     (1,179,252) 13,091,043
9.Countermeasures:Upload onto MOPS after correction, and do not
affect 2021 2Q income statement.
10.Any other matters that need to be specified:none
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