古井贡B:2016年第三季度报告全文(英文版)

来源:深交所 2016-10-31 00:00:00
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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

5 / 27

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

19 / 27

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

20 / 27

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

21 / 27

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

22 / 27

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

23 / 27

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

24 / 27

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

25 / 27

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

26 / 27

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.

27 / 27

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