Interim Provisions for the Accounting Treatment Related to Split Share Structure Reform of Listed Companies

上市公司股权分置改革相关会计处理暂行规定

 

Promulgating Institution: Ministry of Finance

Document Number: Cai Kuai [2005] No.18

Promulgating Date: 11/14/2005

Effective Date: 11/14/2005

颁布机关: 财政部

文   号: 财会[2005]18号

颁布时间: 11/14/2005

实施时间: 11/14/2005

 

For the purposes of further implementing the Certain Opinions of the State Council on Advancing the Opening-Up and Steady Development of the Capital Market (Guo Fa [2004] No. 3), we hereby issue the following provisions on relevant accounting treatment for non-tradable share owners (hereinafter referred to as "enterprises") involved in the split share structure reform according to relevant documents on the split share structure reform of listed companies:

  为了进一步贯彻国务院《关于推进资本市场改革开放和稳定发展的若干意见》(国发[2004]3号),根据上市公司股权分置改革等相关文件,现就股权分置改革中非流通股股东(以下简称企业)有关会计处理规定如下:

1. Setting up accounting items and the accounting treatment for payment consideration

An enterprise shall set up a “split share trading rights” accounting item and a “warrants payable” accounting item to separately account for the rights obtained by enterprises through various consideration payments to list and trade non-tradable shares (hereinafter referred to as "trading rights") on stock exchanges, and the value of the warrants issued by enterprises to obtain the trading rights.

(1) Trading rights obtained by means of cash payments

Where an enterprise, according to the approved split share structure scheme, obtains trading rights by means of cash payment, the enterprise shall, in light of the amount of cash payment, debit the "split share trading rights" account, and credit the "bank deposits" account.

(2) Trading rights obtained by means of bonus shares or share consolidation

In the case that an enterprise, according to the approved split share structure scheme, obtains the trading rights by means of bonus shares or a share consolidation, if the enterprise accounts for such long-term investments according to on the cost approach, the enterprise shall, pursuant to the approved split share scheme and in light of book values of such long-term share investments corresponding to bonus shares or share consolidation, debit "split share trading rights" account, and credit "long-term equity investments" account; where the enterprise accounts for the aforesaid long-term investments according to the equity approach, the enterprise shall credit other details and items into the "long-term equity investments" (sic passim). (三)以发行认购权证方式取得的流通权

(3) Trading rights obtained by means of issuing call warrants

(a) The call warrants are directly given to the shareholders of tradable shares.

In the case of the trading rights being obtained by an enterprise by mean of an issuance of call warrants and given directly to the shareholders of tradable shares, the call warrants issued shall be recorded in the relevant register.

When a call warrant holder acquires shares from the enterprise by exercising the call warrant, the enterprise shall debit the “bank deposits” account based on the consideration received, debit the “split share trading rights” account based on the difference such that the exercise price is lower than the stock market price, credit the “long-term equity investment” account based on the book value of the long-term equity investment that corresponds to the portion of shares reduced, and credit or debit the “investment gains” account based on the discrepancy thereof.

If a call warrant holder exercises the subscription rights, and requires cash settlement for the portion of the price differential where the exercise price is lower than the stock market price, the enterprise shall debit the “split share trading rights” account and credit the “bank deposits” account based on the actual amount paid. At the same time, the relevant call warrant record in the register shall be cancelled.

(b) The call warrants are sold to the shareholders of tradable shares at a fixed price.

In the case of the trading rights being obtained by an enterprise by means of an issuance of call warrants at a fixed price, the enterprise shall, in accordance with the approved split share scheme, debit the “bank deposits” account and credit “warrants payable” account based on the amount received.

When a call warrant holder acquires the shares from the enterprise by exercising the call warrants, the enterprise shall debit the “bank deposits” account based on the consideration received, debit the “split share trading rights” account based on the difference where the exercise price is lower than the stock market price, debit the “warrants payable” account based on the amount calculated on the basis of the proportion of all the warrants issued that corresponds to the portion exercised, and credit or debit the “split share trading rights” account based on the discrepancy thereof.

At the expiry of the duration of the call warrants, the “warrants payable” account balance shall first be used to offset “split share trading rights” account, and after the “split share trading rights” account balance is offset and reduced to zero, the “warrants payable” account balance shall be incorporated into the “capital reserves” account.

(4) Trading rights obtained by means of issuing put warrants

(a) The put warrants are directly given to the shareholders of tradable shares.

Where an enterprise obtains the trading rights by means of the issuance of put warrants and given directly to the shareholders of tradable shares, the put warrants issued shall be recorded in the relevant register.

When a put warrant holder sells the shares to the enterprise by exercising the put warrant, the enterprise shall debit the “split share trading rights” account based on the difference such that the exercise price is higher than the stock market price, debit the “bank deposits” account based on the consideration paid, and debit the “long-term equity investment” account or the “short-term investment” account based on the discrepancy thereof.

If a put warrant holder exercises the right to sell, and requires cash settlement for the portion of the price differential where the exercise price is higher than the stock market price, the enterprise shall debit the “split share trading rights” account and credit the “bank deposits” account based on the actual amount paid. At the same time, the relevant put warrant record in the register shall be cancelled.

(b) The put warrants are sold to the shareholders of tradable shares at a fixed price.

In the case of the trading rights being obtained by an enterprise by way of an issuance of put warrants at a fixed price, the enterprise shall, in accordance with the approved split share scheme, debit the “bank deposits” account and credit “warrants payable” account based on the amount received.

When a put warrant holder sells the shares to the enterprise by exercising the put warrants, the enterprise shall debit the “split share trading rights” account based on the difference where the exercise price is higher than the stock market price, debit the “warrants payable” account based on the amount calculated on the basis of the proportion of all the warrants issued that corresponds to the portion exercised, credit the “bank deposits” account based on the consideration paid, and debit the “long-term equity investment” or “short-term investment ” account based on the discrepancy thereof.

If a put warrant holder exercises the right to sell, and requires cash settlement for the portion of the price differential where the exercise price is higher than the stock market price, the enterprise shall debit the “warrants payable” account based on the amount calculated on the basis of the proportion of all the warrants issued that corresponds to the portion exercised, credit the “bank deposits” account based on the actual amount paid, and debit the “split share trading rights” account based on the discrepancy thereof.

At the expiry of the duration of the put warrants, the “warrants payable” account balance shall first be used to offset “split share trading rights” account, and after the “split share trading rights” account balance is offset and reduced to zero, the “warrants payable” account balance shall be incorporated into the “capital reserves” account.

(5) In the case that tradable shares are obtained by means of giving to the shareholders of tradable shares, shares created through a capital reserve transfer or the issuance of stock dividends of a listed company, the enterprise, at the time of giving to the shareholders of tradable shares the portion of shares created through a capital reserve transfer or the issuance of stock dividends of the listed company that was distributed to the shareholders of non-tradable shares shall, in accordance with the approved split share scheme, first make an accounting treatment based on the capital reserve transfer or distribution of stock dividend of the listed company, after which the enterprise shall make an accounting treatment as regards the shares given to the shareholders of tradable shares with reference to the provisions of Paragraph (2) of these Provisions.

(6) Trading rights obtained by means of injecting quality assets into listed companies, exemption from debts of a listed company, or assuming the debts of a listed company

An enterprise that injects quality assets into listed companies, that is exempted from debts of a listed company, or that assumes the debts of a listed company shall, in accordance with the approved split share scheme, debit the “split share trading rights” account based on the book value of the assets injected, the amount of debts exempted or the amount of debts assumed, and credit the relevant asset or liability account.

(7) Trading rights obtained by way of a commitment

Where an enterprise obtains the trading rights by means of a commitment, in accordance with the approved split share scheme, the enterprise needs only to make a record in the relevant register, and when the commitment is realized, makes the relevant accounting treatment in accordance with the principles of these Provisions.

    一、会计科目设置及支付对价的会计处理

  企业应当设置“股权分置流通权”和“应付权证”科目,分别核算企业以各种方式支付对价取得的在证券交易所挂牌交易的流通权(以下简称流通权)和企业为取得流通权而发行权证的价值。

  (一)以支付现金方式取得的流通权

  企业根据经批准的股权分置方案,以支付现金的方式取得的流通权,应当按照所支付的金额,借记“股权分置流通权”科目,贷记“银行存款”等科目。

  (二)以送股或缩股方式取得的流通权

  企业根据经批准的股权分置方案,以送股或缩股的方式取得的流通权,以成本法核算该项长期投资的,应当按照送股或缩股部分所对应的长期股权投资账面价值,借记“股权分置流通权”科目,贷记“长期股权投资”科目;以权益法核算该项长期投资的,在贷记“长期股权投资”科目时应当按比例贷记相关明细科目(下同)。

  (三)以发行认购权证方式取得的流通权

  1.将认购权证直接送给流通股股东的。

  企业根据经批准的股权分置方案,通过发行认购权证直接送给流通股股东方式取得的流通权,发行的认购权证在相关备查登记簿中予以登记。

  认购权证持有人行使认购权向企业购买股份时,企业应按照收到的价款,借记“银行存款”科目,按照行权价低于股票市场价格的差额,借记“股权分置流通权”科目,按照减少股份部分所对应的长期股权投资账面价值,贷记“长期股权投资”科目,按其差额,贷记或借记“投资收益”科目。

  认购权证持有人行使认购权,要求以现金结算行权价低于股票市场价格的差价部分的,企业应按照实际支付的金额,借记“股权分置流通权”科目,贷记“银行存款”科目。在备查登记簿中应同时注销相关认购权证的记录。

  2.将认购权证以一定价格出售给流通股股东的。

  企业根据经批准的股权分置方案,以一定价格发行认购权证方式取得的流通权,应按照实际收到的金额,借记“银行存款”科目,贷记“应付权证”科目。

  认购权证持有人行使认购权向企业购买股份时,企业应按照收到的价款,借记“银行存款”科目,按照行权价低于股票市场价格的差额,借记“股权分置流通权”科目,按照行权部分对应全部发行权证的比例计算的金额,借记“应付权证”科目,按照减少股份部分所对应的长期股权投资账面价值,贷记“长期股权投资”科目,按其差额,贷记或借记“投资收益”科目。

  认购权证持有人行使认购权,要求以现金结算行权价低于股票市场价格的差价部分的,应按照行权部分对应全部发行权证的比例计算的金额,借记“应付权证”科目,按照实际支付的金额,贷记“银行存款”科目,按其差额,借记“股权分置流通权”科目。

  认购权证存续期满,“应付权证”科目的余额应首先冲减“股权分置流通权”科目,“股权分置流通权”科目的余额冲减至零后,“应付权证”科目的余额计入“资本公积”科目。

  (四)以发行认沽权证方式取得的流通权

  1.将认沽权证直接送给流通股股东的。

  企业根据经批准的股权分置方案,通过发行认沽权证直接送给流通股股东的方式取得的流通权,发行的认沽权证在相关备查登记簿中予以登记。

  认沽权证持有人行使出售权将股份出售给企业时,企业应按行权价高于股票市场价格的差额,借记“股权分置流通权”科目,按照支付的价款,贷记“银行存款”科目,按其差额,借记“长期股权投资”或“短期投资”科目。

  认沽权证持有人行使出售权,要求以现金结算行权价高于股票市场价格的差价部分的,企业应按照实际支付的金额,借记“股权分置流通权”科目,贷记“银行存款”科目。在备查登记簿中应同时注销相关认沽权证的记录。

  2.将认沽权证以一定价格出售给流通股股东的。

  企业根据经批准的股权分置方案,以一定价格发行认沽权证方式取得的流通权,应按照实际收到的金额,借记“银行存款”科目,贷记“应付权证”科目。

  认沽权证持有人行使出售权将股份出售给企业时,企业应按行权价高于股票市场价格的差额,借记“股权分置流通权”科目,按照行权部分对应全部发行权证的比例计算的金额,借记“应付权证”科目,按照支付的价款,贷记“银行存款”科目,按其差额,借记“长期股权投资”或“短期投资”科目。

  认沽权证持有人行使出售权,要求以现金结算行权价高于股票市场价格的差价部分的,应按照行权部分对应全部发行权证的比例计算的金额,借记“应付权证”科目,按照实际支付的金额,贷记“银行存款”科目,按其差额,借记“股权分置流通权”科目。

  认沽权证存续期满,“应付权证”科目的余额应首先冲减“股权分置流通权”科目,“股权分置流通权”科目的余额冲减至零后,“应付权证”科目的余额计入“资本公积”科目。

  (五)以上市公司资本公积转增或派发股票股利形成的股份,送给流通股股东的方式取得的流通权企业根据经过批准的股权分置方案,将上市公司资本公积转增或派发股票股利形成的股份中非流通股股东分得的部分,送给流通股东,应首先按照上市公司资本公积金转增或派发股票股利进行会计处理。然后,企业比照本规定第(二)款的规定对向流通股股东赠送股份进行会计处理。

  (六)以向上市公司注入优质资产、豁免上市公司债务、替上市公司承担债务的方式取得的流通权

  企业根据经过批准的股权分置方案,向上市公司注入优质资产、豁免上市公司债务、替上市公司承担债务的,应按照注入资产、豁免债务、承担债务的账面价值,借记“股权分置流通权”科目,贷记相关资产或负债科目。

  (七)以承诺方式取得的流通权

  企业根据股权分置方案,以承诺的方式,取得非流通股的流通权,只在相关备查簿中予以登记,待承诺实现时再按照本规定的原则进行相关的会计处理。

2. Accounting treatment of the sale of non-tradable shares for which trading rights have been obtained

The trading rights obtained by an enterprise are usually not carried forward, and appropriations to impairment reserves are generally not made, and shall be carried forward at the time of the sale of non-tradable shares for which trading rights have been obtained in accordance with the proportion of the amount sold. When an enterprise sells non-tradable shares for which trading rights have been obtained, the enterprise shall debit the “bank deposits” account based on the amount received, credit the “long-term equity investment” account based on the book value of the long-term equity investment that corresponds to the portion of shares sold, and credit or debit the “investment gains” account based on the differential. At the same time, the enterprise shall debit the “investment gains” account, and credit the “split share trading rights" account based on the cost of the split share trading rights carried forward.

    二、取得流通权的非流通股份出售的会计处理

  企业取得的流通权,平时不进行结转,一般也不计提减值准备,待取得流通权的非流通股出售时,再按出售的部分按比例予以结转。企业出售取得流通权的非流通股时,按照收到的金额,借记“银行存款”科目,按照出售股份部分所对应的长期股权投资账面价值,贷记“长期股权投资”科目,按其差额,贷记或借记“投资收益”科目。同时,按应结转的股权分置流通权成本,借记“投资收益”科目,贷记“股权分置流通权”科目。

3. Presentation of financial statements

An enterprise shall reflect in the long-term assets of its balance sheet, a separate "share split tradable rights" item, and shall reflect in the current liabilities of its balance sheet, a separate “warrants payable” item. The tradable rights of non-tradable shares obtained by means of a commitment or by means of a warrant issuance shall be disclosed in the notes of the financial statement, stating the specific content of the commitment. As regards the issuance of call warrants or put warrants, the specific content of the call warrants or put warrants issued shall be stated in the notes to the financial statements.

    三、财务报表的列报

  企业应在其资产负债表中的长期资产项目内单列“股权分置流通权”项目反映;应在流动负债项目内单列“应付权证”项目反映。对于以承诺方式或发行权证方式取得的非流通股的流通权,应在财务报表附注中予以披露,说明承诺的具体内容;对于发行的认购权证或认沽权证,也应在财务报表附注中说明发行的认购权证或认沽权证的具体内容。