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泸州老窖:2024年第三季度报告(英文版)

深圳证券交易所 2024-09-30 查看全文

泸州老窖 -0.19%

Q3 2024 Report of Luzhou Laojiao Co. Ltd.Stock Code: 000568 Stock abbreviation: Luzhou Laojiao Announcement No. 2024-56

Luzhou Laojiao Co. Ltd.Q3 2024 Report

Luzhou Laojiao Co. Ltd. (hereinafter referred to as the “Company”)

and all the members of the Company’s Board of Directors hereby

guarantee that the contents of this Report are true accurate and

complete and free of any misrepresentations misleading statements or

material omissions.Important Statements:

1. The Board of Directors Board of Supervisors directors supervisors and senior management

guarantee that the information presented in this report is free of any false records misleading

statements or material omissions and shall individually and together be legally liable for truthfulness

accuracy and completeness of its contents.

2. The responsible person for the Company the responsible person for accounting work and the

responsible person for the Company’s financial affairs (Accounting Supervisor) have warranted that

the financial statements in this report are true accurate and complete.

3. Whether the financial statements of this report have been audited by an auditor

□Yes □ No

This report has been prepared in both Chinese and English. Should there be any discrepancies or

misunderstandings between the two versions the Chinese version shall prevail.

1Q3 2024 Report of Luzhou Laojiao Co. Ltd.

1. Key financial information

1.1 Key accounting data and financial indicators

Whether the Company performed a retroactive adjustment to or restatement of accounting data.□Yes □ No

Q3 2024 YoY change Q1-Q3 2024 YoY change

Operating revenues

7398670017.920.67%24303555187.3010.76%

(CNY)

Net profits

attributable to

3565502984.742.58%11593041150.059.72%

shareholders of the

Company (CNY)

Net profits

attributable to

shareholders of the

3570292253.983.52%11564402985.2210.24%

Company before

non-recurring gains

and losses (CNY)

Net cash flows from

operating activities — — 12464714796.11 37.69%

(CNY)

Basic earnings per

2.432.53%7.899.74%

share (CNY/share)

Diluted earnings per

2.432.53%7.899.74%

share (CNY/share)

Weighted average

8.27%-1.14%25.88%-2.32%

ROE

30 September 2024 31 December 2023 Change

Total assets (CNY) 66496926541.35 63294455201.60 5.06%

Net assets

attributable to

45427566438.1141391410494.899.75%

shareholders of the

Company (CNY)

1.2 Non-recurring gains and losses

□Applicable □ N/A

Unit: CNY

Item Q3 2024 Q1-Q3 2024 Note

Gain or loss from disposal

of non-current assets

(including the write-off 1.80 1058796.90

portion of the impairment

provision)

Government grants

recognised in profit or loss

(exclusive of those that are

closely related to the 6128697.80 24981321.89

Company's normal

business operations and

given in accordance with

2Q3 2024 Report of Luzhou Laojiao Co. Ltd.

defined criteria and in

compliance with

government policies and

have a continuing impact

on the Company's profit or

loss)

Gain or loss on fair-value

changes in financial assets

and liabilities held by a

non-financial enterprise as

well as on disposal of

financial assets and -2906267.78 20527273.78

liabilities (exclusive of the

effective portion of hedges

that is related to the

Company's normal

business operations)

Other non-operating

income and expenditure

-9635164.54-8734073.59

except above-mentioned

items

Less: Corporate income

-1626355.689114053.65

tax

Minority interests

2892.2081100.50

(after tax)

Total -4789269.24 28638164.83 --

Other items that meet the definition of non-recurring gain/loss:

□Applicable □ N/A ?

No such cases for the reporting period.Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in the

Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities

to the Public-Non-Recurring Gains and Losses as a recurring gain/loss item.□Applicable □ N/A ?

No such cases for the reporting period.

1.3 Changes in key financial data and indicators and reasons for the changes

□ Applicable □ N/A

A. The closing carrying balance of accounts receivables decreased by CNY 10521711.62 compared to

the opening carrying balance at the beginning of the year indicating a decrease of 60.26%. It was

mainly due to the payment collection with respect to overseas baijiu sales.B. The closing balance of other current assets decreased by CNY 160145726.41 compared to the

opening balance at the beginning of the year indicating a decrease of 90.64%. It was mainly due to the

decreased value added tax corporate income tax and other taxes to be offset in the current period.

3Q3 2024 Report of Luzhou Laojiao Co. Ltd.

C. The closing balance of investment property increased by CNY 13183521.71 compared to the

opening balance at the beginning of the year indicating an increase of 34.89%. It was mainly due to the

additional property leases in the current period.D. The closing balance of construction in progress decreased by CNY 1081587008.64 compared to

the opening balance at the beginning of the year indicating a decrease of 62.94%. It was mainly due to

the transfer of construction in progress that became ready for its intended use to fixed assets.E. The closing balance of deferred tax assets decreased by CNY 395984825.89 compared to the

opening balance at the beginning of the year indicating a decrease of 58.71%. It was mainly due to the

decreased unrealized profits of internal transactions and the relevant reversal as a result of the

unlocking of restricted shares.F. The closing balance of taxes payable decreased by CNY 983511011.33 compared to the opening

balance at the beginning of the year indicating a decrease of 33.46%. It was mainly due to the payment

of the opening taxes payable in the current period.G. The closing balance of non-current liabilities due within one year increased by CNY

2690005277.84 compared to the opening balance at the beginning of the year indicating an increase

of 3408.60%. It was mainly due to the reclassification of bonds payable and long-term loans due within

one year.H. The closing balance of treasury stock decreased by CNY 259105222.61 compared to the opening

balance at the beginning of the year indicating a decrease of 42.01%. It was mainly due to the relevant

reversal as a result of the unlocking of restricted shares in the current period.I. Investment income in the current Q1-Q3 period decreased by CNY 28000183.71 compared to the

same period of last year indicating a decrease of 40.24%. It was mainly due to the decreased earnings

of investee Huaxi Securities in the current period.J. Net cash flows from operating activities in the current Q1-Q3 period increased by CNY

3412146899.23 compared to the same period of last year indicating an increase of 37.69%. It was

mainly due to the increased cash received from sale of goods and the decreased cash paid for goods

purchased and services received in the current period.K. Net cash flows from investing activities in the current Q1-Q3 period decreased by CNY

485155325.59 compared to the same period of last year. It was mainly due to the increased

purchases of wealth management products (collective asset management plans) from securities firms

in the current period.L. Net cash flows from financing activities in the current Q1-Q3 period decreased by CNY

7654587417.55 compared to the same period of last year. It was mainly due to the receipt of less

bank loan in the current period compared to the same period of last year.

4Q3 2024 Report of Luzhou Laojiao Co. Ltd.

2. Shareholder information

2.1 Total numbers of common shareholders and preference shareholders with resumed voting

rights as well as shareholdings of top 10 shareholders

Unit: Share

Total number of common Total number of preference shareholders with

shareholders at the end of the 168211 resumed voting rights at the end of the reporting 0

reporting period period (if any)

Shareholdings of the top 10 shareholders (exclusive of shares lent in refinancing)

Number of Pledged marked or frozen

Name of Nature of Shareholding Total shares holding shares

shareholder shareholder percentage held restricted Status of Number of

shares shares shares

Luzhou

State-owned

Laojiao Group 25.89% 381088389.00 0 N/A 0

corporation

Co. Ltd.Luzhou

XingLu

State-owned

Investment 24.86% 365971142.00 0 N/A 0

corporation

Group Co.Ltd.Hong Kong

Securities

Outbound

Clearing 3.28% 48267771.00 0 N/A 0

corporation

Company

Limited

Bank of China

Co. Ltd. –

Baijiu index

classification

securities Other 3.07% 45222560.00 0 N/A 0

investment

fund by China

Merchants

Fund

China

Securities

Finance Other 2.30% 33842059.00 0 N/A 0

Corporation

Limited

Bank of China

Co. Ltd.-

Blue chip

selected

hybrid Other 1.51% 22250000.00 0 N/A 0

securities

investment

fund by E

Fund

Industrial and

Commercial

Bank of China

Other 0.92% 13598087.00 0 N/A 0

Co. Ltd.-

Newly growth

hybrid

5Q3 2024 Report of Luzhou Laojiao Co. Ltd.

securities

investment

fund by

Invesco Great

Wall

Central Huijin

Asset State-owned

0.92% 13539862.00 0 N/A 0

Management corporation

Co. Ltd.Industrial and

Commercial

Bank of China

Co. Ltd.-

Huatai- Other 0.92% 13475235.00 0 N/A 0

Pinebridge

CSI 300

Exchange-

Traded Fund

China

Construction

Bank Co.Ltd.- E Fund

Other 0.63% 9278276.00 0 N/A 0

CSI 300

Initiating

Exchange-

Traded Fund

Shareholdings of the top 10 non-restricted shareholders (exclusive of shares lent in refinancing and locked shares of

executives)

Type and number of shares

Name of shareholder Number of non-restricted shares held

Type Number

CNY common 381088389.0

Luzhou Laojiao Group Co. Ltd. 381088389.00

shares 0

Luzhou XingLu Investment CNY common 365971142.0

365971142.00

Group Co. Ltd. shares 0

Hong Kong Securities Clearing CNY common

48267771.0048267771.00

Company Limited shares

Bank of China Co. Ltd. – Baijiu

index classification securities CNY common

45222560.0045222560.00

investment fund by China shares

Merchants Fund

China Securities Finance CNY common

33842059.0033842059.00

Corporation Limited shares

Bank of China Co. Ltd.-Blue

CNY common

chip selected hybrid securities 22250000.00 22250000.00

shares

investment fund by E Fund

Industrial and Commercial

Bank of China Co. Ltd.-Newly

CNY common

growth hybrid securities 13598087.00 13598087.00

shares

investment fund by Invesco

Great Wall

Central Huijin Asset CNY common

13539862.0013539862.00

Management Co. Ltd. shares

Industrial and Commercial

Bank of China Co. Ltd.- CNY common

13475235.0013475235.00

Huatai-Pinebridge CSI 300 shares

Exchange-Traded Fund

China Construction Bank Co. 9278276.00 CNY common 9278276.00

6Q3 2024 Report of Luzhou Laojiao Co. Ltd.

Ltd.- E Fund CSI 300 Initiating shares

Exchange-Traded Fund

1. Luzhou Laojiao Group Co. Ltd. and Luzhou XingLu Investment

Group Co. Ltd. are both holding state-owned companies under

the jurisdiction of SASAC of Luzhou. The two companies signed

the agreement of persons acting in concert on 31 December

2015. For details please refer to the announcement of the

Company on 5 January 2016 - Announcement on the agreement

of persons acting in concert signed by shareholders. The

announcement number is 2016-1 (http://www.cninfo.com.cn/). The

two companies signed the renewed agreement of persons acting

in concert on 27 May 2021. For details please refer to the

announcement of the Company on 29 May 2021 - Announcement

on the renewed agreement of persons acting in concert signed by

shareholders. The announcement number is 2021-18

(http://www.cninfo.com.cn/). The two companies signed the

renewed agreement of persons acting in concert again on 23 May

2024. For details please refer to the announcement of the

Related parties or acting-in-concert

Company on 23 May 2024 - Announcement on the Renewed

Agreement of Persons Acting in Concert Signed by Shareholders

(announcement number 2024-22).

2. Luzhou Laojiao Group Co. Ltd. through its wholly-owned

subsidiary Sichuan Jinduo Investment Co. Ltd. increased its

holdings in the Company by 1140200 shares through call auction

trading accounting for 0.08% of the total share capital of the

Company. By the end of the reporting period Luzhou Laojiao

Group Co. Ltd. and Sichuan Jinduo Investment Co. Ltd.collectively held 382228589 shares in the Company

representing 25.97% of the total share capital of the Company.

3. In addition whether there is an association between the

remaining shareholders or they belong to persons acting in

concert is unknown.Top 10 shareholders participating in securities

N/A

margin trading (if any)

5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in

refinancing shares lending

□Applicable □ N/A

Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares

lending/return compared with the prior period

□Applicable □ N/A

2.2 Total number of preferred shareholders and shareholdings of the top 10 preferred

shareholders

□Applicable □ N/A

3. Other significant events

□Applicable □ N/A

7Q3 2024 Report of Luzhou Laojiao Co. Ltd.

A. Progress on the restricted share incentive plan

a. On 23 January 2024 the Company held the 38th Meeting of the 10th Board of Directors and the

20th Meeting of the 10th Board of Supervisors at which the Proposal on the Repurchase and

Cancellation of Some Restricted Shares and the Adjustment of Repurchase Price and the Proposal

on the Satisfaction of Unlocking Conditions for the First Unlocking Period of the 2021 Restricted

Share Incentive Plan were reviewed and approved respectively. The Board of Supervisors of the

Company issued the review opinion and the law firm and the independent financial adviser issued a

legal opinion and an independent financial adviser's report respectively.b. On 22 February 2024 the Company disclosed the Reminder Announcement on Unlocked Shares

in the First Unlocking Period of the 2021 Restricted Share Incentive Plan Being Allowed for Public

Trading. As such the unlocked restricted shares in the first unlocking period of the 2021 Restricted

Share Incentive Plan were allowed for public trading on 22 February 2024.c. On 4 June 2024 the Proposal on the Repurchase and Cancellation of Some Restricted Shares

was approved at the 40th Meeting of the 10th Board of Directors and the 22nd Meeting of the Board

of Supervisors respectively. On 5 June the Company disclosed the Announcement on the

Repurchase and Cancellation of Some Restricted Shares to Reduce Registered Capital and Notice to

Creditors. By the expiration of the declaring period the Company had not received any declaration

from the relevant creditors for early payout of debts or provision of guarantee.d. On 14 August 2024 the Company disclosed the Announcement on the Completion of the

Repurchase and Cancellation of Some Restricted Shares. As at 14 August 2024 the Company

completed the repurchase and cancellation of 21266 restricted shares.e. On 23 September 2024 the Company held the Fourth Meeting of the 11th Board of Directors and

the Third Meeting of the 11th Board of Supervisors at which the Proposal on the Satisfaction of

Unlocking Conditions for the First Unlocking Period for the Reserved Restricted Shares of the 2021

Restricted Share Incentive Plan and the Proposal on the Repurchase and Cancellation of Some

Restricted Shares and the Adjustment of Repurchase Price were reviewed and approved respectively.The Board of Supervisors of the Company issued the review opinion and the law firm issued a legal

opinion.f. On 28 September 2024 the Company disclosed the Reminder Announcement on Unlocked Shares

in the First Unlocking Period for the Reserved Restricted Shares of the 2021 Restricted Share

Incentive Plan Being Allowed for Public Trading. As such the unlocked restricted shares in the first

unlocking period for the reserved restricted shares of the 2021 Restricted Share Incentive Plan were

allowed for public trading on 9 October 2024.B. The Company invested in the technical upgrade program of intelligent brewing (Phase I) with the

wholly-owned subsidiary Luzhou Laojiao Brewing Co. Ltd. as the implementer. The total investment

amount approximated CNY 4782.5090 million. For further information see Announcement No. 2022-

24 on the Implementation of Luzhou Laojiao’s Technical Upgrade Program of Intelligent Brewing

(Phase I) by Subsidiary. The program is currently under construction.

8Q3 2024 Report of Luzhou Laojiao Co. Ltd.

4. Financial statements

4.1 Financial statements

4.1.1 Consolidated balance sheet

Prepared by: Luzhou Laojiao Co. Ltd.

30 September 2024

Unit: CNY

Item 30 September 2024 1 January 2024

Current assets:

Cash and cash equivalents 30317711254.63 25952025091.28

Settlement reserves

Lending funds

Held-for-trading financial assets 1797091274.22 1426992098.83

Derivative financial assets

Notes receivables

Accounts receivables 6939667.36 17461378.98

Accounts receivables financing 4539294569.88 5938171007.93

Prepayment 194288987.55 202309186.70

Premiums receivable

Reinsurance accounts receivable

Reinsurance contract reserve

Other receivables 19668746.55 22716893.12

Including:Interests receivable

Dividends receivable 1812067.95

Buying back the sale of financial

assets

Inventories 12299814363.04 11622043947.46

Including: Data resource

Contract assets

Assets held for sale

Non-current assets due within one

year

Other current assets 16539005.56 176684731.97

Total current assets 49191347868.79 45358404336.27

Non-current assets:

Disbursement of loans and

advances

Investments in debt obligations

Investments in other debt

obligations

Long-term receivables

Long-term equity investments 2738007214.17 2708254833.50

Investments in other equity

380927410.08402893468.80

instruments

Other non-current financial assets

Investment property 50968938.48 37785416.77

Fixed assets 9425852427.62 8613223465.46

Construction in progress 636881871.89 1718468880.53

Productive biological assets

Oil and gas assets

Use right assets 31607985.45 23260955.23

Intangible assets 3353312512.91 3397873791.08

Including: Data resource

9Q3 2024 Report of Luzhou Laojiao Co. Ltd.

Development expenses

Including: Data resource

Goodwill

Long-term deferred expenses 1752373.86 960005.91

Deferred tax assets 278444792.03 674429617.92

Other non-current assets 407823146.07 358900430.13

Total non-current assets 17305578672.56 17936050865.33

Total assets 66496926541.35 63294455201.60

Current liabilities:

Short-term loans

Borrowings from the central bank

Loans from other banks

Held-for-trading financial liabilities 9763.87

Derivative financial liabilities

Notes payable

Accounts payable 1955461761.32 2357223733.21

Advance from customer

Contract liabilities 2654171466.27 2672977090.30

Financial assets sold for

repurchase

Deposits from customers and inter-

bank

Customer brokerage deposits

Securities underwriting brokerage

deposits

Employee benefits payable 454040506.53 523866711.41

Taxes payable 1956116521.67 2939627533.00

Other payable 837032162.79 1150721162.53

Including:Interests payable

Dividends payable 29684819.82

Handling charges and

commissions payable

Reinsurance accounts payable

Liabilities held for sale

Non-current liabilities due within

2768923430.2578918152.41

one year

Other current liabilities 345039911.61 347485071.57

Total current liabilities 10970785760.44 10070829218.30

Non-current liabilities:

Insurance contract reserves

Long-term loans 9779900000.00 10000300000.00

Bonds payable 1498716737.02

Including:Preference shares

Perpetual bonds

Lease liabilities 28349800.11 22356404.47

Long-term payables

Long-term payroll payables

Accrued liabilities

Deferred income 22126464.92 27772083.74

Deferred tax liabilities 121296037.48 142773028.22

Other non-current liabilities

Total non-current liabilities 9951672302.51 11691918253.45

Total liabilities 20922458062.95 21762747471.75

Owners' equity

Share capital 1471966503.00 1471987769.00

Other equity instruments

10Q3 2024 Report of Luzhou Laojiao Co. Ltd.

Including: preference shares

Perpetual bonds

Capital reserves 5328783977.04 5185481523.22

Less: treasury stock 357638387.98 616743610.59

Other comprehensive income 52433946.08 63130469.51

Special reserves

Surplus reserves 1471987769.00 1471987769.00

General risk reserve

Undistributed profits 37460032630.97 33815566574.75

Total equity attributable to owners of

45427566438.1141391410494.89

the parent company

Non-controlling interests 146902040.29 140297234.96

Total owners' equity 45574468478.40 41531707729.85

Total liabilities and owners' equity 66496926541.35 63294455201.60

Legal representative:Liu Miao

Person in charge of accounting affairs:Xie Hong

Person in charge of accounting department:Song Ying

4.1.2 Consolidated income statement for Q1~Q3

Unit: CNY

Item Q1~Q3 2024 Q1~Q3 2023

1. Total operating revenue 24303555187.30 21942722318.53

Including: Operating revenue 24303555187.30 21942722318.53

Interest income

Earned premium

Fee and commission

income

2. Total operating costs 8716343501.20 7947227779.03

Including: Cost of sales 2810818847.64 2534606065.52

Interest expense

Handling charges and

commission expenses

Refunded premiums

Net payments for

insurance claims

Net provision for

insurance contracts

Bond insurance

expense

Reinsurance Expenses

Taxes and surcharges 2738129445.18 2284378173.69

Selling and distribution

2500180332.272406327625.61

expenses

General and

766584464.15842806705.91

administrative expenses

Research and

142651488.12128135082.85

Development expenses

Financial expenses -242021076.16 -249025874.55

11Q3 2024 Report of Luzhou Laojiao Co. Ltd.

Including:Interest

368223585.86377135947.94

expenses

Interest

619035153.33626899439.08

income

Plus: Other income 27507988.34 36610879.53

Investment income ("-" for

41589803.2469589986.95

losses)

Including: income

from investment in associates and 40700111.73 54878251.56

joint ventures

Income

from the derecognition of financial

assets measured at amortized cost

Foreign exchange gains ("-"

for losses)

Net gain on exposure

hedges (“-” for losses)

Gains from the changes in

30347487.2742191204.30fair values(“-“ for losses)Credit impairment losses (“-”

1214862.781036687.07

for losses)Impairment losses(“-“ forlosses)

Gains from disposal of

1058796.90-661002.49

assets("-" for losses)

3. Operating profits ("-" for losses) 15688930624.63 14144262294.86

Plus: non-operating income 12737373.78 29489316.30

Less: non-operating expenses 21471447.37 8475193.22

4. Total profits before tax ("-" for

15680196551.0414165276417.94

total losses)

Less: income tax expenses 4072760301.97 3563907124.89

5. Net profit ("-" for net loss) 11607436249.07 10601369293.05

5.1 By operating continuity

5.1.1 Net profit from continuing

11607436249.0710601369293.05

operation ("-" for losses)

5.1.2 Net profit from

discontinued operation ("-" for losses)

5.2 By ownership

1) Attributable to shareholders of

11593041150.0510566121970.45

the parent company ("-" for losses)

2) Attributable to non-controlling

14395099.0235247322.60

interests ("-" for losses)

6. Net of tax from other

-10901548.12-221719078.69

comprehensive income

Net of tax from other

comprehensive income to the owner -10696523.43 -222500286.71

of the parent company

6.1 Other comprehensive

income cannot reclassified into the -16573138.80 -222936907.49

profit and loss:

1) Remeasure the variation of

net indebtedness or net asset of

defined benefit plans

2) Share in other -98594.78 131244.39

12Q3 2024 Report of Luzhou Laojiao Co. Ltd.

comprehensive income that cannot

be classified into profit and loss

under equity method

3) Changes in fair value of

investments in other equity -16474544.02 -223068151.88

instruments

4) Changes in fair value of the

company’s credit risks

5) Other

6.2 Other comprehensive

income that will be reclassified into 5876615.37 436620.78

the profit and loss

1) Share in other

comprehensive income that will be

6125748.26-516803.74

classified into profit and loss under

equity method

2) Changes in fair value of

investments in other debt obligations

3) Other comprehensive

income arising from the

reclassification of financial assets

4) Allowance for credit

impairments in investments in other

debt obligations

5) Reserve for cash-flow

hedge

6) Balance arising from the

translation of foreign currency -249132.89 953424.52

financial statements

7) Others

Net of tax from other

comprehensive income to non- -205024.69 781208.02

controlling interests

7. Total comprehensive income 11596534700.95 10379650214.36

(1) Total comprehensive income

attributable to owners of the parent 11582344626.62 10343621683.74

company

(2) Total comprehensive income

attributable to non-controlling 14190074.33 36028530.62

interests

8. Earnings per share

(1) Basic earnings per share 7.89 7.19

(2) Diluted earnings per share 7.89 7.19

Legal representative:Liu Miao

Person in charge of accounting affairs:Xie Hong

Person in charge of accounting department:Song Ying

4.1.3 Consolidated statement of cash flows for Q1~Q3

Unit: CNY

Item Q1~Q3 2024 Q1~Q3 2023

1. Cash flows from operating

activities

Cash received from sale of goods 28268692121.75 27644766394.51

13Q3 2024 Report of Luzhou Laojiao Co. Ltd.

and rendering of services

Net increase in customer bank

deposits and placement from banks

and other financial institutions

Net increase in loans from central

bank

Net increase in loans from other

financial institutions

Premiums received from original

insurance contracts

Net cash received from

reinsurance business

Net increase in deposits and

investments from policyholders

Cash received from interest

handling charges and commissions

Net increase in placements from

other financial institutions

Net capital increase in repurchase

business

Net cash received from customer

brokerage deposits

Refunds of taxes and surcharges 2958263.90 2467243.81

Cash received from other

667232830.17712179872.13

operating activities

Subtotal of cash inflows from

28938883215.8228359413510.45

operating activities

Cash paid for goods purchased

3371913988.236711528483.77

and services received

Net increase in loans and

advances to customers

Net increase in deposits in central

bank and other banks and financial

institutions

Cash paid for original insurance

contract claims

Net increase in lending funds

Cash paid for interests handling

charges and commissions

Cash paid for policy dividends

Cash paid to and on behalf of

1064925092.78988987146.39

employees

Cash paid for taxes and

9726003677.889187530503.56

surcharges

Cash paid for other operating

2311325660.822418799479.85

activities

Subtotal of cash outflows from

16474168419.7119306845613.57

operating activities

Net cash flows from operating

12464714796.119052567896.88

activities

2. Cash flows from investing

activities

Cash received from disposal of 2090367314.89 1502335883.94

14Q3 2024 Report of Luzhou Laojiao Co. Ltd.

investments

Cash received from returns on

42401007.1516890941.28

investments

Net cash received from disposal of

fixed assets intangible assets and 11432852.36 6151397.95

other long-term assets

Net cash received from disposal of

subsidiaries and other business units

Cash received from other investing

activities

Subtotal of cash inflows from

2144201174.401525378223.17

investing activities

Cash paid to acquire and construct

fixed assets intangible assets and 611683806.45 879418321.30

other long-term assets

Cash paid for investments 2471700000.00 1100000000.00

Net increase in pledge loans

Net cash paid to acquire

subsidiaries and other business units

Cash paid for other investing

12791.67

activities

Subtotal of cash outflows from

3083396598.121979418321.30

investing activities

Net cash flows from investing

-939195423.72-454040098.13

activities

3. Cash flows from financing

activities

Cash received from investors 79496.11 10373040.14

Including: cash received by

subsidiaries from investments by 79496.11 2082314.40

minority shareholders

Cash received from borrowings 2000000000.00 6850000000.00

Cash received from other financing

activities

Subtotal of cash inflows from

2000079496.116860373040.14

financing activities

Cash paid for debt repayments 1020600000.00 20100000.00

Cash paid for distribution of

dividends and profits or payment of 8229507984.85 6450638992.85

interest

Including: dividends and profits

paid to minority shareholders by 29684819.82

subsidiaries

Cash paid for other financing

16062790.161137908.64

activities

Subtotal of cash outflows from

9266170775.016471876901.49

financing activities

Net cash flows from financing

-7266091278.90388496138.65

activities

4. Effect of fluctuation in exchange

-4009184.326241015.17

rate on cash and cash equivalents

5. Net increase in cash and cash

4255418909.178993264952.57

equivalents

Plus: balance of cash and cash

equivalents at the beginning of the 25893029277.86 17729006591.87

period

15Q3 2024 Report of Luzhou Laojiao Co. Ltd.

6. Balance of cash and cash

equivalents at the end of the 30148448187.03 26722271544.44

period

4.2 Adjustments to financial statement items at the beginning of the year of the first

implementation of the new accounting standards implemented since 2024

□Applicable □ N/A

4.3 Auditor’s report

Whether the financial statements of this report have been audited by an auditor

□Yes □ No

The said financial statements are unaudited by an auditor.The Board of Directors of Luzhou Laojiao Co. Ltd.

16

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