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Century Synthetic Fiber: 2021 Individual Audited Financial Statements

Century Synthetic Fiber Corporation

MANAGEMENT REPORT

The management of Century Synthetic Fiber Corporation (“the Company”) is pleased to present this report and the separate financial statements of the Company for the year ended December 31, 2021.

MANAGEMENT’S RESPONSIBILITY FOR THE SEPARATE FINANCIAL STATEMENTS

Management is responsible for separate financial statements for each fiscal year that present fairly the separate financial position of the Company and the separate results of its separate operations and separate cash flows for the year. In preparing these separate financial statements, management is required to:

  • select appropriate accounting policies and then apply them consistently;
  • make reasonable and prudent judgments and estimates;
  • indicate whether the applicable accounting standards have been followed, subject to any material differences disclosed and explained in the separate financial statements; and
  • prepare separate financial statements on a going concern basis, unless it is inappropriate to assume that the Company will continue as a going concern.

Management is responsible for ensuring that proper accounting records are kept which disclose, with reasonable accuracy at all times, the separate financial position of the Company and for ensuring that the accounting records comply with the accounting system applied. He is also responsible for safeguarding the assets of the Company and therefore for taking reasonable measures for the prevention and detection of fraud and other irregularities.

Management has confirmed that it has complied with the above requirements in preparing the accompanying separate financial statements.

MANAGEMENT STATEMENT

The management of the Company hereby declares that, in its opinion, the accompanying separate financial statements present fairly the separate financial position of the Company as at December 31, 2021 and the separate results of its operations and separate cash . flows for the year then ended in accordance with Vietnamese accounting standards, the Vietnamese corporate accounting system and legal requirements relating to the preparation and presentation of separate financial statements.

The Company has one subsidiary, as disclosed in the separate financial statements. The Company has prepared these separate financial statements to meet current disclosure requirements, in particular Circular 96/2020/TT-BTC relating to the publication of securities market information. In addition, as required by these regulations, the Company has also prepared the consolidated financial statements of the Company and its subsidiary (“the Group”) for the year ended December 31, 2021 as of March 11, 2022.

Users of the separate financial statements should read them in conjunction with these consolidated financial statements to obtain complete information about the consolidated financial position, consolidated results of operations and consolidated cash flows of the Group.

For and on behalf of management:

Dang Trieu Hoa

General manager

Ho Chi Minh City, Vietnam

March 11, 2022