ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTER REPORT 2016
October 2016
Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Section I Important Statements
The Board of Directors, the Supervisory Committee as well as all directors,
supervisors and senior management staff of Anhui Gujing Distillery Company
Limited (hereinafter referred to as “the Company”) warrant that this report is
factual, accurate and complete without any false record, misleading statement or
material omission. And they shall be jointly and severally liable for that.
All directors attended the board session for reviewing this report.
Liang Jinhui, company principal, Ye Changqing, chief of the accounting work,
and Zhu Jiafeng, chief of the accounting organ (chief of accounting), hereby
confirm that the financial statements enclosed in this report are factual, accurate
and complete.
This Report is prepared in both Chinese and English. Should there be any
discrepancy between the two versions, the Chinese version shall prevail.
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Section II Financial Highlights & Shareholder Changes
I Highlights of accounting data and financial indicators
Whether the Company performs any retroactive adjustments to or restatements of its accounting data of last year due to change in
accounting policies or correction of accounting errors
□ Yes √ No
30 September 2016 31 December 2015 +/- (%)
Total assets (RMB) 8,940,411,922.95 7,183,147,641.13 24.46%
Net assets attributable to
shareholders of the Company 5,362,246,493.56 4,833,721,630.08 10.93%
(RMB)
January-September
July-September 2016 YoY +/- (%) YoY +/- (%)
2016
Operating revenues (RMB) 1,460,526,002.88 12.23% 4,505,560,709.61 12.23%
Net profit attributable to
shareholders of the Company 151,384,181.93 26.04% 582,439,644.55 16.35%
(RMB)
Net profit attributable to
shareholders of the Company
128,287,249.62 23.54% 551,523,602.11 16.82%
excluding exceptional profit and
loss (RMB)
Net cash flows from operating
-- -- 1,202,847,188.47 80.19%
activities (RMB)
Basic earnings per share
0.30 25.00% 1.160 17.17%
(RMB/share)
Diluted earnings per share
0.30 25.00% 1.160 17.17%
(RMB/share)
Weighted average return on equity
2.74% 0.38% 11.21% -0.18%
(%)
Unit: RMB
Item January-September 2016 Note
Profit/loss on disposal of non-current assets (including offset
-4,039,636.27
amount of asset impairment provisions)
Government grants charged to the profit/loss for the Reporting
Period (except for the government grants closely related to the
25,285,600.82
business of the Company and given at a fixed quota or amount in
accordance with the State’s uniform standards)
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable
15,509,185.22
financial liabilities and financial assets available for sales except
for effective hedging related with normal businesses of the
Company
Non-operating income and expense other than the above 6,840,504.74
Less: Income tax effects 10,898,913.63
Minority interests (after tax) 1,780,698.44
Total 30,916,042.44 --
Explanation of why the Company classified an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
or reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders and shareholdings of top 10 shareholders at the period-end
1. Total number of ordinary shareholders and preference shareholders who had resumed their voting right
& shareholdings of top 10 shareholders at the period-end
Unit: share
Total number of preference
Total number of ordinary shareholders who had
shareholders at the end of the 24,876 resumed their voting right at Not applicable
Reporting Period the end of the Reporting
Period (if any)
Shareholdings of top 10 shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of shares
restricted shares
shareholder shareholder percentage held Status Number
held
ANHUI GUJING
GROUP State-owned
53.89% 271,404,022 Pledged 114,000,000
COMPANY corporation
LIMITED
GAOLING Foreign
2.47% 12,446,408
FUND,L.P. corporation
UBS
Foreign
(LUXEMBOUR 2.41% 12,150,199
corporation
G) S.A.
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Foreign
NORGES BANK 2.35% 11,853,146
corporation
CHINA INT'L
CAPITAL CORP
Foreign
HONG KONG 1.60% 8,040,454
corporation
SECURITIES
LTD
GREENWOODS
Foreign
CHINA ALPHA 1.52% 7,648,898
corporation
MASTER FUND
CENTRAL
HUIJIN State-owned
1.30% 6,543,600
INVESTMENT corporation
CO., LTD.
3W GREATER
Foreign
CHINA FOCUS 0.70% 3,529,479
corporation
FUND
CHINA
MERCHANTS
State-owned
SECURITIES 0.70% 3,504,116
corporation
(HK) CO.,
LIMITED
GOLDEN
Foreign
CHINA 0.68% 3,416,434
corporation
MASTER FUND
Shareholdings of top 10 non-restricted shareholders
Type of shares
Name of shareholder Number of non-restricted shares held at the period-end
Type Number
ANHUI GUJING GROUP RMB ordinary
271,404,022 271,404,022
COMPANY LIMITED share
Domestically
GAOLING FUND,L.P. 12,446,408 listed foreign 12,446,408
share
Domestically
UBS (LUXEMBOURG) S.A. 12,150,199 listed foreign 12,150,199
share
Domestically
NORGES BANK 11,853,146 listed foreign 11,853,146
share
CHINA INT'L CAPITAL CORP 8,040,454 Domestically 8,040,454
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
HONG KONG SECURITIES LTD listed foreign
share
Domestically
GREENWOODS CHINA ALPHA
7,648,898 listed foreign 7,648,898
MASTER FUND
share
CENTRAL HUIJIN INVESTMENT RMB ordinary
6,543,600 6,543,600
CO., LTD. share
Domestically
3W GREATER CHINA FOCUS
3,529,479 listed foreign 3,529,479
FUND
share
Domestically
CHINA MERCHANTS
3,504,116 listed foreign 3,504,116
SECURITIES (HK) CO., LIMITED
share
Domestically
GOLDEN CHINA MASTER FUND 3,416,434 listed foreign 3,416,434
share
Among the shareholders above, no affiliated relationship exists between the Company’s
controlling shareholder—Anhui Gujing Group Company Limited—and other shareholders,
nor they are parties acting in concert as defined in the Administrative Measures on
Related or act-in-concert parties
Information Disclosure of Changes in Shareholding of Listed Companies. As for other
among the shareholders above
shareholders, the Company does not know whether they are related parties or whether they
belong to parties acting in concert as defined in the Administrative Measures on Information
Disclosure of Changes in Shareholding of Listed Companies.
Top 10 ordinary shareholders
conducting securities margin trading Not applicable
(if any)
Did any of the top 10 ordinary shareholders or the top 10 non-restricted ordinary shareholders of the Company conduct any
promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top 10 of them at the period-end
□ Applicable √ Not applicable
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Section III Significant Events
I Changes in main accounting statement items and financial indicators in the Reporting
Period, as well as reasons for the changes
√ Applicable □ Not applicable
Closing amount Opening amount
Balance sheet item Change (%) Main reason for change
(RMB) (RMB)
Notes were adopted more often
Notes receivable 751,361,298.12 539,442,903.31 39.28%
in settlement with customers
Accounts receivable 10,769,881.03 4,948,074.84 117.66% Expanded consolidated scope
Other accounts
17,517,209.93 8,617,955.68 103.26% Expanded consolidated scope
receivable
Intangible assets 704,446,488.79 298,372,239.96 136.10% Expanded consolidated scope
Notes were adopted less often
Notes payable 4,408,583.00 93,768,583.00 -95.30%
in settlement with suppliers
Accounts received in
944,818,296.99 608,565,152.50 55.25% Increase in sales orders
advance
Increase in earnest money
Other accounts payable 777,232,836.07 452,193,188.94 71.88%
received
Assessed appreciation in asset
Deferred tax liabilities 108,886,322.76 20,463,660.87 432.10% value in business merger not
under the same control
Cash flow statement Current period Same period of last
Change (%) Main reason for change
item (RMB) year (RMB)
Cash received from
Increase in earnest money
other operating 382,955,144.81 252,465,602.57 51.69%
received
activities
Cash received from Increase in retraction of funds
retraction of 2,687,852,537.76 1,698,775,053.18 58.22% on wealth management
investments products
Cash received as return Increase in return on
68,398,591.73 49,005,653.33 39.57%
on investments investment
Cash received from
314,000.00 2,264,000.00 -86.13% Decrease in investment
other investing activities
Cash paid for Wealth management products
2,671,617,710.68 1,736,888,380.40 53.82%
investment were purchased
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Cash received as Interest-free borrowing of
1,000,000.00 0.00 100.00%
borrowings subsidiary
Net cash flows from
-49,360,000.00 -100,720,000.00 -50.99% Decrease in cash dividends paid
financing activities
II Progress on significant events, as well as the influence and solutions
□ Applicable √ Not applicable
III Commitments of the Company, its shareholders, actual controller, acquirer, directors,
supervisors, senior management or other related parties fulfilled in the Reporting Period or
ongoing at the period-end
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV Performance forecast for Y2016
Warning of possible loss or considerable YoY change in the accumulative net profit made during the year-beginning to the end of the
next reporting period, as well as the reasons
□ Applicable √ Not applicable
V Securities investments
√ Applicable □ Not applicable
Shareholdi
Number Number Shareholdi Gain/los
Variety Code Name ng
Initial of shares of shares ng Closing s for
of of of percentage Accounting Source
investment held at held at percentage book value reporting
securiti securiti securiti at title of stock
cost (RMB) period-be period-e at (RMB) period
es es es period-beg
gin nd period-end (RMB)
in
Available-for-
43,374,616. 10,485,10 14,877,1 50,135,827. 141,172. Self-own
Stock 601988 ZGYH 0.00% 0.00% sale financial
10 0 00 00 16 ed funds
assets
Available-for-
71,277,724. 8,040,88 72,930,863. 170,480. Self-own
Stock 000001 PAYH 2,219,720 0.00% 0.00% sale financial
48 9 23 24 ed funds
assets
Available-for-
91,133,996. 6,445,12 150,622,454 Self-own
Stock 600373 ZWCM 6,445,120 0.00% 0.00% 0.00 sale financial
80 0 .40 ed funds
assets
205,786,337 19,149,94 29,363,1 273,689,144 311,652.
Total -- -- -- --
.38 0 09 .63 40
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Disclosure date of the
board announcement on
approval of the
securities investment
Disclosure date of the
general meeting
announcement on
approval of the
securities investment (if
any)
VI Investment in derivative financial instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VII Visits paid to the Company for purposes of research, communication, interview, etc.
during the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds for non-operating purposes by the controlling
shareholder and its related parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Anhui Gujing Distillery Company Limited.
30 September 2016
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 1,367,934,109.44 1,087,319,158.77
Settlement reserve
Interbank lendings
Financial assets at fair value through
377,985.93 322,223.28
profit/loss
Derivative financial assets
Notes receivable 751,361,298.12 539,442,903.31
Accounts receivable 10,769,881.03 4,948,074.84
Accounts paid in advance 73,342,618.97 80,373,083.59
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract reserve
Interest receivable
Dividends receivable
Other accounts receivable 17,517,209.93 8,617,955.68
Financial assets purchased under
agreements to resell
Inventories 1,631,314,347.14 1,396,712,050.87
Assets held for sale
Non-current assets due within one year
Other current assets 1,420,424,861.11 1,500,970,860.37
Total current assets 5,273,042,311.67 4,618,706,310.71
Non-current assets:
Loans and advances to customers
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Available-for-sale financial assets 373,689,144.63 313,881,190.47
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investments
Investment property 8,617,432.39 9,715,451.89
Fixed assets 1,904,637,388.83 1,691,028,804.32
Construction in progress 45,498,655.51 62,562,971.78
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 704,446,488.79 298,372,239.96
R&D expenses
Goodwill 473,325,507.30 0.00
Long-term deferred expenses 96,090,442.08 127,815,668.37
Deferred tax assets 61,064,551.75 61,065,003.63
Other non-current assets
Total non-current assets 3,667,369,611.28 2,564,441,330.42
Total assets 8,940,411,922.95 7,183,147,641.13
Current liabilities:
Short-term borrowings 1,000,000.00 0.00
Borrowings from the Central Bank
Money deposits accepted and inter-bank
deposits
Interbank borrowings
Financial liabilities at fair value through
profit/loss
Derivative financial liabilities
Notes payable 4,408,583.00 93,768,583.00
Accounts payable 537,753,826.66 378,187,452.07
Accounts received in advance 944,818,296.99 608,565,152.50
Financial assets sold for repurchase
Fees and commissions payable
Payroll payable 235,359,533.77 253,901,700.72
Taxes and fares payable 341,934,385.61 358,087,353.80
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Interest payable
Dividends payable
Other accounts payable 777,232,836.07 452,193,188.94
Reinsurance premiums payable
Insurance contract reserve
Payables for acting trading of securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities 245,424,959.30 138,135,604.82
Total current liabilities 3,087,932,421.40 2,282,839,035.85
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term accounts payable
Long-term payroll payable
Special payables
Provisions
Deferred income 43,022,240.18 46,123,314.33
Deferred tax liabilities 108,886,322.76 20,463,660.87
Other non-current liabilities
Total non-current liabilities 151,908,562.94 66,586,975.20
Total liabilities 3,239,840,984.34 2,349,426,011.05
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserve 1,294,938,493.19 1,294,938,493.19
Less: Treasury shares
Other comprehensive income 50,927,105.44 54,481,886.51
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Special reserve
Surplus reserve 256,902,260.27 256,902,260.27
Provisions for general risks
Retained earnings 3,255,878,634.66 2,723,798,990.11
Equity attributable to owners of the
5,362,246,493.56 4,833,721,630.08
Company
Minority interests 338,324,445.05 0.00
Total owners’ equity 5,700,570,938.61 4,833,721,630.08
Total liabilities and owners’ equity 8,940,411,922.95 7,183,147,641.13
Legal representative: Liang Jinhui Person-in-charge of the accounting work: Ye Changqing
Chief of the accounting division: Zhu Jiafeng
2. Balance sheet of the Company
Unit: RMB
Item Closing balance Opening balance
Current assets:
Monetary funds 291,752,126.32 548,650,832.84
Financial assets at fair value through
321,272.09 322,223.28
profit/loss
Derivative financial assets
Notes receivable 690,048,419.62 288,101,188.68
Accounts receivable 5,962,445.76 4,350,437.24
Accounts paid in advance 30,208,778.86 5,876,678.41
Interest receivable
Dividends receivable
Other accounts receivable 101,625,106.41 107,625,019.85
Inventories 1,404,866,746.08 1,374,311,894.88
Assets held for sale
Non-current assets due within one year
Other current assets 1,420,000,000.00 1,500,000,000.00
Total current assets 3,944,784,895.14 3,829,238,275.18
Non-current assets:
Available-for-sale financial assets 351,104,684.63 313,881,190.47
Held-to-maturity investments
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Long-term accounts receivable
Long-term equity investments 1,175,089,408.32 354,089,408.32
Investment property 31,190,760.47 9,715,451.89
Fixed assets 1,400,642,604.21 1,471,584,047.66
Construction in progress 43,491,173.91 62,355,022.07
Engineering materials
Disposal of fixed assets
Productive living assets
Oil-gas assets
Intangible assets 183,522,573.22 187,468,810.92
R&D expenses
Goodwill
Long-term deferred expenses 96,090,442.08 127,815,668.37
Deferred tax assets 42,154,627.44 42,154,627.44
Other non-current assets
Total non-current assets 3,323,286,274.28 2,569,064,227.14
Total assets 7,268,071,169.42 6,398,302,502.32
Current liabilities:
Short-term borrowings
Financial liabilities at fair value through
profit/loss
Derivative financial liabilities
Notes payable 28,583.00 828,583.00
Accounts payable 461,852,175.63 371,636,772.06
Accounts received in advance 1,164,368,102.94 659,484,624.07
Payroll payable 80,946,130.34 88,513,920.05
Taxes and fares payable 275,852,930.86 237,459,964.06
Interest payable
Dividends payable
Other accounts payable 267,492,281.95 268,035,753.60
Liabilities held for sale
Non-current liabilities due within one year
Other current liabilities 67,068,098.38 61,660,494.13
Total current liabilities 2,317,608,303.10 1,687,620,110.97
Non-current liabilities:
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Long-term payables
Long-term payroll payable
Special payables
Provisions
Deferred income 42,713,834.01 46,123,314.33
Deferred tax liabilities 21,071,560.49 20,463,660.87
Other non-current liabilities
Total non-current liabilities 63,785,394.50 66,586,975.20
Total liabilities 2,381,393,697.60 1,754,207,086.17
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Of which: Preference shares
Perpetual bonds
Capital reserve 1,247,162,107.35 1,247,162,107.35
Less: Treasury shares
Other comprehensive income 51,352,306.84 54,481,886.51
Special reserve
Surplus reserve 251,800,000.00 251,800,000.00
Retained earnings 2,832,763,057.63 2,587,051,422.29
Total owners’ equity 4,886,677,471.82 4,644,095,416.15
Total liabilities and owners’ equity 7,268,071,169.42 6,398,302,502.32
3. Consolidated income statement for the Reporting Period
Unit: RMB
Item July-September 2016 July-September 2015
1. Operating revenues 1,460,526,002.88 1,301,371,823.31
Including: Sales income 1,460,526,002.88 1,301,371,823.31
Interest income
Premium income
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Fee and commission income
2. Operating costs 1,295,538,071.74 1,170,459,885.53
Including: Cost of sales 379,261,657.76 360,463,128.96
Interest expenses
Fee and commission expenses
Surrenders
Net claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Business tax and surtaxes 227,083,386.54 189,620,376.33
Selling expenses 522,299,572.98 461,777,830.14
Administrative expenses 168,327,112.65 164,865,865.05
Finance costs -1,469,126.50 -6,299,837.29
Asset impairment loss 35,468.31 32,522.34
Add: Profit on fair value changes (“-”
-2,064,863.14 -150,642.58
means loss)
Return on investment (“-” means
24,896,841.30 10,707,480.39
loss)
Including: Share of profit/loss of
associates and joint ventures
Exchange gains (“-” means loss)
3. Operating profit (“-” means loss) 187,819,909.30 141,468,775.59
Add: Non-operating revenue 25,413,316.24 21,891,342.70
Including: Profit on disposal of
375,882.42 4,902.91
non-current assets
Less: Non-operating expense 377,941.64 671,106.84
Including: Loss on disposal of
96,960.62 200,357.67
non-current assets
4. Total profit (“-” means loss) 212,855,283.90 162,689,011.45
Less: Corporate income tax 59,011,681.50 42,582,886.60
5. Net profit (“-” means loss) 153,843,602.40 120,106,124.85
Net profit attributable to owners of
151,384,181.93 120,106,124.85
the Company
Minority interests’ income 2,459,420.47 0.00
6. Other comprehensive income net of
14,565,128.27 -29,792,215.65
tax
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Other comprehensive income net
of tax attributable to owners of the 14,565,128.27 -29,792,215.65
Company
6.1 Other comprehensive
income that will not be reclassified into
profit/loss
6.1.1 Changes in net liabilities
or assets with a defined benefit plan
upon re-measurement
6.1.2 Share of other
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
6.2 Other comprehensive
income to be subsequently reclassified 14,565,128.27 -29,792,215.65
into profit/loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
6.2.2 Profit/loss on fair value
changes of available-for-sale financial 14,565,128.27 -29,792,215.65
assets
6.2.3 Profit/loss on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
6.2.4 Effective profit/loss on
cash flow hedges
6.2.5 Currency translation
differences
6.2.6 Other
Other comprehensive income net
of tax attributable to minority interests
7. Total comprehensive income 168,408,730.67 90,313,909.20
Attributable to owners of the
165,949,310.20 90,313,909.20
Company
Attributable to minority interests 2,459,420.47 0.00
8. Earnings per share
8.1 Basic earnings per share 0.30 0.24
8.2 Diluted earnings per share 0.30 0.24
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Legal representative: Liang Jinhui Person-in-charge of the accounting work: Ye Changqing
Chief of the accounting division: Zhu Jiafeng
4. Income statement of the Company for the Reporting Period
Unit: RMB
Item July-September 2016 July-September 2015
1. Operating revenues 804,435,303.66 759,165,722.93
Less: Operating costs 350,189,125.02 361,673,949.83
Business tax and surtaxes 204,951,334.28 179,646,268.11
Selling expenses 75,015,225.25 12,895,437.37
Administrative expenses 120,782,364.91 100,325,566.05
Finance costs -1,303,334.98 -5,764,196.34
Asset impairment loss 170,676.54 -17,872.14
Add: profit on fair value changes (“-”
-2,097,346.45 -150,642.58
means loss)
Return on investment (“-” means
22,268,798.87 10,679,360.39
loss)
Including: Share of profit/loss of
associates and joint ventures
2. Operating profit (“-” means loss) 74,801,365.06 120,935,287.86
Add: Non-operating revenue 19,196,694.62 18,505,943.17
Including: Profit on disposal of
non-current assets
Less: Non-operating expense 95,984.32 574,887.23
Including: Loss on disposal of
95,984.32 374,887.23
non-current assets
3. Total profit (“-” means loss) 93,902,075.36 138,866,343.80
Less: Corporate income tax 23,653,702.19 36,194,875.85
4. Net profit (“-” means loss) 70,248,373.17 102,671,467.95
5. Other comprehensive income net of
14,589,310.33 -29,792,214.90
tax
5.1 Other comprehensive income that
will not be reclassified into profit and
loss
5.1.1 Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
5.1.2 Share of other
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
5.2 Other comprehensive income to
be subsequently reclassified into 14,589,310.33 -29,792,214.90
profit/loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
5.2.2 Profit/loss on fair value
changes of available-for-sale financial 14,589,310.33 -29,792,214.90
assets
5.2.3 Profit/loss on reclassifying
held-to-maturity investments into
available-for-sale financial assets
5.2.4 Effective profit/loss on cash
flow hedges
5.2.5 Currency translation
differences
5.2.6 Other
6. Total comprehensive income 84,837,683.50 72,879,253.05
7. Earnings per share
7.1 Basic earnings per share 0.14 0.20
7.2 Diluted earnings per share 0.14 0.20
5. Consolidated income statement for the period from the year-beginning to the end of the Reporting
Period
Unit: RMB
Item January-September 2016 January-September 2015
1. Operating revenues 4,505,560,709.61 4,014,414,652.23
Including: Sales income 4,505,560,709.61 4,014,414,652.23
Interest income
Premium income
Fee and commission income
2. Operating costs 3,808,343,755.26 3,417,491,703.16
Including: Cost of sales 1,159,656,092.42 1,188,041,656.55
Interest expenses
Fee and commission expenses
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Surrenders
Net claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Business tax and surtaxes 698,322,570.89 581,803,110.70
Selling expenses 1,536,222,706.22 1,256,004,654.03
Administrative expenses 425,404,568.37 402,792,635.69
Finance costs -11,233,287.64 -14,893,813.03
Asset impairment loss -28,895.00 3,743,459.22
Add: Profit on fair value changes (“-”
15,147.04 -110,210.00
means loss)
Return on investment (“-” means
69,221,696.66 49,005,653.33
loss)
Including: Share of profit/loss of
associates and joint ventures
Exchange gains (“-” means loss)
3. Operating profit (“-” means loss) 766,453,798.05 645,818,392.40
Add: Non-operating revenue 33,553,013.41 31,875,929.21
Including: Profit on disposal of
381,359.64 87,856.20
non-current assets
Less: Non-operating expense 5,466,544.12 1,950,331.72
Including: Loss on disposal of
4,420,995.91 844,777.83
non-current assets
4. Total profit (“-” means loss) 794,540,267.34 675,743,989.89
Less: Corporate income tax 203,993,450.18 175,133,060.87
5. Net profit (“-” means loss) 590,546,817.16 500,610,929.02
Net profit attributable to owners of
582,439,644.55 500,610,929.02
the Company
Minority interests’ income 8,107,172.61 0.00
6. Other comprehensive income net of
-3,554,781.07 25,629,601.68
tax
Other comprehensive income net
of tax attributable to owners of the -3,554,781.07 25,629,601.68
Company
6.1 Other comprehensive
income that will not be reclassified into
profit/loss
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
6.1.1 Changes in net liabilities
or assets with a defined benefit plan
upon re-measurement
6.1.2 Share of other
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
6.2 Other comprehensive
income to be subsequently reclassified -3,554,781.07 25,629,601.68
into profit/loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
6.2.2 Profit/loss on fair value
changes of available-for-sale financial -3,554,781.07 25,629,601.68
assets
6.2.3 Profit/loss on
reclassifying held-to-maturity
investments into available-for-sale
financial assets
6.2.4 Effective profit/loss on
cash flow hedges
6.2.5 Currency translation
differences
6.2.6 Other
Other comprehensive income net
of tax attributable to minority interests
7. Total comprehensive income 586,992,036.09 526,240,530.70
Attributable to owners of the
578,884,863.48 526,240,530.70
Company
Attributable to minority interests 8,107,172.61 0.00
8. Earnings per share
8.1 Basic earnings per share 1.160 0.990
8.2 Diluted earnings per share 1.160 0.990
6. Income statement of the Company for the period from the year-beginning to the end of the Reporting
Period
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Unit: RMB
Item January-September 2016 January-September 2015
1. Operating revenues 2,543,139,218.98 2,285,327,000.60
Less: Operating costs 1,116,821,291.46 1,211,082,864.83
Business tax and surtaxes 643,663,363.49 549,952,286.34
Selling expenses 181,479,242.23 62,826,096.63
Administrative expenses 305,915,030.32 262,629,626.57
Finance costs -9,686,500.62 -13,847,416.03
Asset impairment loss 0.00 2,930,339.03
Add: profit on fair value changes (“-”
-58,568.17 -110,210.00
means loss)
Return on investment (“-” means
65,648,174.23 48,376,634.72
loss)
Including: Share of profit/loss of
associates and joint ventures
2. Operating profit (“-” means loss) 370,536,398.16 258,019,627.95
Add: Non-operating revenue 27,932,610.15 25,728,834.99
Including: Profit on disposal of
non-current assets
Less: Non-operating expense 4,414,060.57 649,418.60
Including: Loss on disposal of
4,414,060.57 444,974.31
non-current assets
3. Total profit (“-” means loss) 394,054,947.74 283,099,044.34
Less: Corporate income tax 97,983,312.40 76,972,895.48
4. Net profit (“-” means loss) 296,071,635.34 206,126,148.86
5. Other comprehensive income net of
-3,129,579.67 25,629,602.43
tax
5.1 Other comprehensive income that
will not be reclassified into profit and
loss
5.1.1 Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
5.1.2 Share of other
comprehensive income of investees that
cannot be reclassified into profit/loss
under the equity method
5.2 Other comprehensive income to
be subsequently reclassified into -3,129,579.67 25,629,602.43
profit/loss
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
5.2.1 Share of other
comprehensive income of investees that
will be reclassified into profit/loss
under the equity method
5.2.2 Profit/loss on fair value
changes of available-for-sale financial -3,129,579.67 25,629,602.43
assets
5.2.3 Profit/loss on reclassifying
held-to-maturity investments into
available-for-sale financial assets
5.2.4 Effective profit/loss on cash
flow hedges
5.2.5 Currency translation
differences
5.2.6 Other
6. Total comprehensive income 292,942,055.67 231,755,751.29
7. Earnings per share
7.1 Basic earnings per share 0.590 0.410
7.2 Diluted earnings per share 0.590 0.410
7. Consolidated cash flow statement for the period from the year-beginning to the end of the Reporting
Period
Unit: RMB
Item January-September 2016 January-September 2015
1. Cash flows from operating activities:
Cash received from sale of
4,665,181,632.59 4,231,368,596.59
commodities and rendering of service
Net increase in money deposits from
customers and interbank placements
Net increase in loans from the
Central Bank
Net increase in funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase in deposits of policy
holders and investment fund
Net increase in disposal of financial
assets at fair value through profit/loss
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Interest, fees and commissions
received
Net increase in interbank borrowings
Net increase in funds in repurchase
business
Tax refunds received 16,075,251.07 13,999,000.00
Cash received from other operating
382,955,144.81 252,465,602.57
activities
Subtotal of cash inflows from operating
5,064,212,028.47 4,497,833,199.16
activities
Cash paid for goods and services 813,734,763.05 1,084,236,354.72
Net increase in loans and advances to
customers
Net increase in funds deposited in the
Central Bank and interbank placements
Cash paid for claims of original
insurance contracts
Interest, fees and commissions paid
Cash paid as policy dividends
Cash paid to and for employees 774,961,969.54 716,002,327.13
Taxes and fares paid 1,623,032,665.41 1,472,228,702.92
Cash paid for other operating
649,635,442.00 557,834,788.49
activities
Subtotal of cash outflows from
3,861,364,840.00 3,830,302,173.26
operating activities
Net cash flows from operating activities 1,202,847,188.47 667,531,025.90
2. Cash flows from investing activities:
Cash received from retraction of
2,687,852,537.76 1,698,775,053.18
investments
Cash received as return on
68,398,591.73 49,005,653.33
investments
Net cash received from disposal of
fixed assets, intangible assets and other 971,279.86 115,600.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Cash received from other investing
314,000.00 2,264,000.00
activities
Subtotal of cash inflows from investing
2,757,536,409.35 1,750,160,306.51
activities
Cash paid to acquire fixed assets, 116,075,478.32 150,355,092.86
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
intangible assets and other long-term
assets
Cash paid for investment 2,671,617,710.68 1,736,888,380.40
Net increase in pledged loans
Net cash paid to acquire subsidiaries
795,770,032.45 0.00
and other business units
Cash paid for other investing
activities
Subtotal of cash outflows from
3,583,463,221.45 1,887,243,473.26
investing activities
Net cash flows from investing activities -825,926,812.10 -137,083,166.75
3. Cash flows from financing activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received as borrowings 1,000,000.00 0.00
Cash received from issuance of
bonds
Cash received from other financing
activities
Subtotal of cash inflows from financing
1,000,000.00 0.00
activities
Repayment of borrowings
Cash paid for interest expenses and
50,360,000.00 100,720,000.00
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority interests
Cash paid for other financing
activities
Sub-total of cash outflows from
50,360,000.00 100,720,000.00
financing activities
Net cash flows from financing activities -49,360,000.00 -100,720,000.00
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
327,560,376.37 429,727,859.15
equivalents
Add: Opening balance of cash and
1,040,373,733.07 682,360,442.79
cash equivalents
6. Closing balance of cash and cash
1,367,934,109.44 1,112,088,301.94
equivalents
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
8. Cash flow statement of the Company for the period from the year-beginning to the end of the Reporting
Period
Unit: RMB
Item January-September 2016 January-September 2015
1. Cash flows from operating activities:
Cash received from sale of
2,585,404,219.49 2,530,023,227.63
commodities and rendering of service
Tax refunds received 15,009,167.60 13,999,000.00
Cash received from other operating
249,909,533.84 117,324,762.35
activities
Subtotal of cash inflows from operating
2,850,322,920.93 2,661,346,989.98
activities
Cash paid for goods and services 588,723,963.61 718,482,532.33
Cash paid to and for employees 357,751,167.07 327,495,115.18
Taxes and fares paid 1,032,959,847.90 811,077,421.99
Cash paid for other operating
260,998,167.70 104,729,691.11
activities
Subtotal of cash outflows from
2,240,433,146.28 1,961,784,760.61
operating activities
Net cash flows from operating activities 609,889,774.65 699,562,229.37
2. Cash flows from investing activities:
Cash received from retraction of
2,685,870,391.93 1,648,744,468.68
investments
Cash received as return on
65,404,965.00 48,376,634.72
investments
Net cash received from disposal of
fixed assets, intangible assets and other 514,500.00 0.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Cash received from other investing
0.00 2,264,000.00
activities
Subtotal of cash inflows from investing
2,751,789,856.93 1,699,385,103.40
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 104,776,556.58 146,066,166.95
assets
Cash paid for investment 3,463,441,781.52 1,690,032,857.38
Net cash paid to acquire subsidiaries
and other business units
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Gujing Distillery Original Chinese Spirits Third Quarter Report 2016
Cash paid for other investing
activities
Subtotal of cash outflows from
3,568,218,338.10 1,836,099,024.33
investing activities
Net cash flows from investing activities -816,428,481.17 -136,713,920.93
3. Cash flows from financing activities:
Cash received from capital
contributions
Cash received as borrowings
Cash received from issuance of
bonds
Cash received from other financing
activities
Subtotal of cash inflows from financing
activities
Repayment of borrowings
Cash paid for interest expenses and
50,360,000.00 100,720,000.00
distribution of dividends or profit
Cash paid for other financing
activities
Sub-total of cash outflows from
50,360,000.00 100,720,000.00
financing activities
Net cash flows from financing activities -50,360,000.00 -100,720,000.00
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
-256,898,706.52 462,128,308.44
equivalents
Add: Opening balance of cash and
548,650,832.84 584,601,536.78
cash equivalents
6. Closing balance of cash and cash
291,752,126.32 1,046,729,845.22
equivalents
II Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is unaudited.
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