ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2020
October 2020
Part I Important Notes
The Board of Directors (or the “Board”) the Supervisory Committee as well as the directors
supervisors and senior management of Anhui Gujing Distillery Company Limited (hereinafter
referred to as the “Company”) hereby guarantee that the contents of this Report and its
summary are true accurate and complete and free of any misrepresentations misleading
statements or material omissions and collectively and individually accept legal responsibility
for such contents.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.Liang Jinhui the Company’s legal representative Ye Changqing the Company’s Chief
Accountant and Zhu Jiafeng head of the Company’s financial department (equivalent to
financial manager) hereby guarantee that the financial statements carried in this Report are
truthful accurate and complete.This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions the Chinese versions
shall prevail.Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below due to changes of accounting policies and
correction of accounting errors .□ Yes √ No
30 September 2020 31 December 2019 Change (%)
Total assets (RMB) 14982605356.77 13871297363.16 8.01%
Equity attributable to the listed
company’s shareholders (RMB)
9726392768.50 8944111764.44 8.75%
Q3 2020 YoY change (%) Q1-Q3 2020 YoY change (%)
Operating revenue (RMB) 2549799986.43 15.13% 8069420987.05 -1.63%
Net profit attributable to the listed
company’s shareholders (RMB)
512744399.70 3.94% 1537681004.06 -11.71%
Net profit attributable to the listed
company’s shareholders before
exceptional gains and losses
(RMB)
493142445.93 10.97% 1501061314.45 -6.79%
Net cash generated from/used in
operating activities (RMB)
238222085.94 -80.14% 2579860186.58 15.10%
Basic earnings per share
(RMB/share)
1.02 4.08% 3.05 -11.85%
Diluted earnings per share
(RMB/share)
1.02 4.08% 3.05 -11.85%
Weighted average return on equity
(%)
5.73% -1.22% 16.25% -4.93%
Unit: RMB
Item Q1-Q3 2020 Note
Gain or loss on disposal of non-current assets (inclusive of
impairment allowance write-offs)
-1831774.42
Government grants through profit or loss (exclusive of government
grants given in the Company’s ordinary course of business at fixed
quotas or amounts as per the government’s uniform standards)
23658321.57
Gain or loss on fair-value changes on held-for-trading and
derivative financial assets and liabilities & income from disposal of
held-for-trading and derivative financial assets and liabilities and
16481279.44
other debt investments (exclusive of the effective portion of hedges
that arise in the Company’s ordinary course of business)
Non-operating income and expense other than the above 13810052.22
Less: Income tax effects 12878092.00
Non-controlling interests effects (net of tax) 2620097.20
Total 36619689.61 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.II Total Number of Shareholders and Holdings of Top 10 of Them as at the End of the
Reporting Period
1. Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders 31889
Number of preference
shareholders with resumed
voting rights (if any)
0
Top 10 shareholders
Name of
shareholder
Nature of
shareholder
Shareholding
percentage
Total shares held
Restricted shares
held
Shares in pledge or frozen
Status Shares
ANHUI GUJING
GROUP
COMPANY
LIMITED
State-owned
corporation
53.89% 271404022 In pledge 114000000
GAOLING
FUNDL.P.
Foreign
corporation
2.47% 12446408
AGRICULTURA
L BANK OF
CHINA- E
FUND
CONSUMPTION
SECTOR
STOCK
SECURITIES
INVESTMENT
Other 1.84% 9244356
FUND
CHINA INT'L
CAPITAL CORP
HONG KONG
SECURITIES
LTD
Foreign
corporation
1.77% 8935752
UBS (LUX)
EQUITY FUND -
CHINA
OPPORTUNITY
(USD)
Foreign
corporation
1.40% 7048161
CENTRAL
HUIJIN ASSET
MANAGEMENT
CO. LTD.
State-owned
corporation
1.30% 6543600
HONG KONG
SECURITIES
CLEARING
COMPANY LTD.
Foreign
corporation
1.20% 6038008
INDUSTRIAL
AND
COMMERCIAL
BANK OF
CHINA
LIMITED-JINGS
HUN
GREATWALL
EMERGING
GROWTH
HYBRID
SECURITIES
INVESTMENT
FUND
Other 1.07% 5399890
BANK OF
CHINA
LIMITED-CHIN
A MERCHANTS
CHINA
SECURITIES
LIQUOR INDEX
CLASSIFICATI
ON
Other 0.95% 4805671
SECURITIES
INVESTMENT
FUND
GREENWOODS
CHINA ALPHA
MASTER FUND
Foreign
corporation
0.92% 4614326
Top 10 unrestricted shareholders
Name of shareholder Unrestricted ordinary shares held
Shares by class
Class Shares
ANHUI GUJING GROUP
COMPANY LIMITED
271404022
RMB-denominate
d ordinary share
271404022
GAOLING FUNDL.P. 12446408
Domestically
listed foreign
share
12446408
AGRICULTURAL BANK OF
CHINA- E FUND CONSUMPTION
SECTOR STOCK SECURITIES
INVESTMENT FUND
9244356
RMB-denominate
d ordinary share
9244356
CHINA INT'L CAPITAL CORP
HONG KONG SECURITIES LTD
8935752
Domestically
listed foreign
share
8935752
UBS (LUX) EQUITY FUND -
CHINA OPPORTUNITY (USD)
7048161
Domestically
listed foreign
share
7048161
CENTRAL HUIJIN ASSET
MANAGEMENT CO. LTD.
6543600
RMB-denominate
d ordinary share
6543600
HONG KONG SECURITIES
CLEARING COMPANY LTD.
6038008
RMB-denominate
d ordinary share
6038008
INDUSTRIAL AND
COMMERCIAL BANK OF CHINA
LIMITED-JINGSHUN
GREATWALL EMERGING
GROWTH HYBRID SECURITIES
INVESTMENT FUND
5399890
RMB-denominate
d ordinary share
5399890
BANK OF CHINA
LIMITED-CHINA MERCHANTS
CHINA SECURITIES LIQUOR
INDEX CLASSIFICATION
SECURITIES INVESTMENT
FUND
4805671
RMB-denominate
d ordinary share
4805671
GREENWOODS CHINA ALPHA
MASTER FUND
4614326
Domestically
listed foreign
share
4614326
Related or acting-in-concert parties
among the shareholders above
Among the shareholders above the Company’s controlling shareholder—Anhui Gujing
Group Company Limited—is not a related party of other shareholders; nor are they parties
acting in concert as defined in the Administrative Measures on Information Disclosure of
Changes in Shareholding of Listed Companies. As for the other 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 shareholders engaged in
securities margin trading (if any)
N/A
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Balance sheet items
30 September
2020 (RMB)
31 December 2019
(RMB)
Change (%) Main reason for change
Held-for-trading
financial assets
231879146.44 509031097.02 -54.45%
Disinvestment in wealth management product
upon maturity
Notes receivable 1711528281.95 1004217431.56 70.43% Increase in bank acceptance bills received
Prepayments 121190007.83 197453313.96 -38.62%
Use of prepayment for advertising service as part
of settlement
Other receivables 39475707.94 25746957.22 53.32% Increase in prepayment for marketing service
Construction in progress 285451235.87 183984816.07 55.15%
Increases in investments in infrastructure and IT
system
Notes payable 338710000.00 703679646.86 -51.87% Maturity of trade bill issued
Other current liabilities 267972091.29 197484121.41 35.69% Increase in accrued expense
Short-term borrowings 70325500.00 0.00 -- Bank loan received by Yellow Crane Tower
Income statement items
(Q1-Q3)
Q1-Q3 2020
(RMB)
Q1-Q3 2019
(RMB)
Change (%) Main reason for change
Finance costs -139117509.97 -24851526.01 -459.79% Increase in interest income
Other income 23491542.76 44662596.55 -47.40% Decrease in tax and levy rebates
Non-operating expense 24806037.98 3051449.71 712.93% Increase in donations in relation to the pandemic
Cash flow statement
items (Q1-Q3)
Q1-Q3 2020
(RMB)
Q1-Q3 2019
(RMB)
Change (%) Main reason for change
Net cash generated
from/used in investing
activities
-126991061.44 870390981.81 -114.59% Decrease in payments for investments
II Progress Influence and Solutions in respect of Significant Events
□ Applicable √ Not applicable
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
III Commitments that the Company’s Actual Controller Shareholders Related Parties
Acquirers the Company Itself or Other Relevant Parties Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Type of
securities
Code of
securities
Name of
securities
Initial
investment cost
Accounting
measurement
method
Opening
carrying
amount
Gain/loss on
fair-value
changes in
the current
period
Cumulative
fair-value
changes
through
equity
Purchased
in the
current
period
Sold in the
current
period
Gain/loss
in the
current
period
Closing
carrying
amount
Accounting title
Funding
source
Asset
management
plan
ZXYSDP
1st Assets
Management
Plan
200000000.00
Fair value
method
211884505.24 9994641.20 0.00 0.00 0.00 0.00 221879146.44
Held-for-trading
financial assets
Self-funded
Other securities investment held at
the period-end
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- --
Total 200000000.00 -- 211884505.24 9994641.20 0.00 0.00 0.00 0.00 221879146.44 -- --
Disclosure date of the
announcement on the Board’s
approval of securities investments
Naught
Disclosure date of the
announcement on the general
meeting’s approval of securities
investments (if any)
Naught
2. Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0000
Counterparty
Relationship
with the
Company
Related-party
transaction
or not
Type of
derivative
Initial
investment
amount
Start date End date
Beginning
investment
Purchased in
Reporting
Period
Sold in
Reporting
Period
Impairment
allowance
(if any)
Ending
investment
Ending
investment
as % of the
Company’s
ending net
assets
Actual
gain/loss in
Reporting
Period
Reverse
repurchase
of national
debt
No No
Reverse
repurchase of
national debt
0.00
29 April
2020
11 October
2020
0.00 4179.80 2180 0.00 1999.80 0.21% 0.55
Total 0.00 -- -- 0.00 4179.80 2180 0.00 1999.80 0.21% 0.55
Funding source Self-funded
Legal matters involved (if applicable) N/A
Disclosure date of board announcement approving
derivative investment (if any)
30 August 2013
Disclosure date of general meeting announcement
approving derivative investment (if any)
Analysis of risks and control measures associated with
derivative investments held in Reporting Period
(including but not limited to market risk liquidity risk
credit risk operational risk legal risk etc.)
The Company had controlled the relevant risks strictly according to the Derivatives Investment Management System.
Changes in market prices or fair value of derivative
investments in Reporting Period (fair value analysis
Naught
should include measurement method and related
assumptions and parameters)
Major changes in accounting policies and specific
accounting principles adopted for derivative
investments in Reporting Period compared to last
reporting period
Naught
Opinion of independent directors on derivative
investments and risk control
Based on the sustainable development of the main business and the sufficient free idle money the Company increased the profits
through investing in the reasonable financial derivative instruments which was in favor of improving the service efficiency of the idle
funds; in order to reduce the investment risks of the financial derivative instruments the Company had set up corresponding supervision
mechanism for the financial derivative instrument business and formulated reasonable accounting policy as well as specific principles of
financial accounting; the derivative Investment business developed separately took national debts as mortgage object which was met
with the cautious and steady risks management principle and the interest of the Company and shareholders. Therefore agreed the
Company to develop the derivative Investment business of reverse repurchase of national debt not more than the limit of RMB0.3
billion.V Progress of Projects Financed with Raised Funds
□ Applicable √ Not applicable
VI 2020 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in the 2020 annual net profit as well as explanation of
why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0000
Type Funding source Amount Undue amount
Unrecovered overdue
amount
Other Self-funded 20000 20000 0.00
Bank’s wealth
management product
Idle raised funds 2300 1000 0.00
Total 22300 21000 0.00
High-risk wealth management transactions with a significant single amount or with low security low liquidity or no principal
protection:
√ Applicable □ Not applicable
Trustee
Type
of
truste
e
Type of
wealth
manage
ment
product
Principal
(RMB’0
000)
Fundin
g
source
St
art
dat
e
En
d
da
te
Investm
ent with
principa
l
Way
of
payb
ack
Refere
nce
annual
ized
rate of
return
Expec
ted
return
(if
any)
Actual
gain/loss
in the
Reportin
g Period
(RMB’0
000)
Recov
ery of
the
gain/l
oss in
the
Repor
ting
Period
Impair
ment
allowa
nce (if
any)
Throug
h
prescri
bed
proced
ures or
not
Any
plan for
further
transact
ions
Summa
ry and
index
to more
informa
tion (if
any)
CITIC
Wings
Asset
Manage
ment
Comp
any
Limit
ed
Asset
manage
ment
plan
20000
Self-fu
nded
Purchas
ing new
shares
offline
fixed
1.2%
of
the
net
value
6.00% 0.00 N/A 0.00 Yes Yes
Compan
y
Limited
income
instrum
ents
and
Reverse
repurch
ase of
national
debt
etc
of
prod
uct
and
20%
of
exces
s
earni
ngs
Total 20000 -- -- -- -- -- -- 0.00 -- 0.00 -- -- --
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches Inquiries and
Interviews Received during the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited
30 September 2020
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 6293975367.62 5619749918.09
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 231879146.44 509031097.02
Derivative financial assets
Notes receivable 1711528281.95 1004217431.56
Accounts receivable 45366345.41 40776567.96
Receivables financing
Prepayments 121190007.83 197453313.96
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 39475707.94 25746957.22
Including: Interest receivable 8744042.43 1908788.81
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 2954002324.75 3015051961.78
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 87912663.81 114439167.07
Total current assets 11485329845.75 10526466414.66
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 4601354.63 4678282.24
Investments in other equity
instruments
Other non-current financial assets
Investment property 4472229.16 4710086.02
Fixed assets 1659795843.32 1722572998.79
Construction in progress 285451235.87 183984816.07
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 898381389.54 785717932.76
Development costs
Goodwill 478283495.29 478283495.29
Long-term prepaid expense 57135831.45 70240106.82
Deferred income tax assets 108580105.76 90494544.51
Other non-current assets 574026.00 4148686.00
Total non-current assets 3497275511.02 3344830948.50
Total assets 14982605356.77 13871297363.16
Current liabilities:
Short-term borrowings 70325500.00 0.00
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 338710000.00 703679646.86
Accounts payable 441523640.81 563494195.40
Advances from customers 0.00 529863011.73
Contract liabilities 847011253.43 0.00
Financial assets sold under
repurchase agreements
Customer deposits and deposits from
other banks and financial institutions
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 330730138.08 454189532.89
Taxes and levies payable 656605964.86 482903109.59
Other payables 1707847647.25 1315878229.01
Including: Interest payable
Dividends payable 7733888.61 0.00
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities 267972091.29 197484121.41
Total current liabilities 4660726235.72 4247491846.89
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 73542181.50 72778437.92
Deferred income tax liabilities 114809029.38 118872366.61
Other non-current liabilities
Total non-current liabilities 188351210.88 191650804.53
Total liabilities 4849077446.60 4439142651.42
Owners’ equity:
Share capital 503600000.00 503600000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 1295405592.25 1295405592.25
Less: Treasury stock
Other comprehensive income
Specific reserve
Surplus reserves 256902260.27 256902260.27
General reserve
Retained earnings 7670484915.98 6888203911.92
Total equity attributable to owners of
the Company as the parent
9726392768.50 8944111764.44
Non-controlling interests 407135141.67 488042947.30
Total owners’ equity 10133527910.17 9432154711.74
Total liabilities and owners’ equity 14982605356.77 13871297363.16
Legal representative: Liang Jinhui The Company’s chief accountant: Ye Changqing
Head of the Company’s financial department: Zhu Jiafeng
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 3643192827.11 2919818830.20
Held-for-trading financial assets 221879146.44 489861097.02
Derivative financial assets
Notes receivable 1510421883.85 378740100.82
Accounts receivable 1520326.45 218558555.07
Receivables financing
Prepayments 60272598.51 17906999.63
Other receivables 192807687.89 125219213.84
Including: Interest receivable 348333.33 301888.89
Dividends receivable 78885663.84 0.00
Inventories 2569307602.07 2688839871.27
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 0.00 1280998.32
Total current assets 8199402072.32 6840225666.17
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 1118213665.32 1148213665.32
Investments in other equity
instruments
Other non-current financial assets
Investment property 4472229.16 4710086.02
Fixed assets 1206955659.09 1310704771.36
Construction in progress 156349177.59 84477784.02
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 364509678.13 243928047.95
Development costs
Goodwill
Long-term prepaid expense 35645067.09 48354967.15
Deferred income tax assets 24216270.13 31360809.87
Other non-current assets 574026.00 574026.00
Total non-current assets 2910935772.51 2872324157.69
Total assets 11110337844.83 9712549823.86
Current liabilities:
Short-term borrowings
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 0.00 49114582.04
Accounts payable 359205165.70 450303984.53
Advances from customers 0.00 31724.77
Contract liabilities 1188637475.97 0.00
Employee benefits payable 97624992.96 100357808.20
Taxes and levies payable 424094805.85 371012223.50
Other payables 338326745.27 274053511.54
Including: Interest payable
Dividends payable
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities 92322.24 11953800.20
Total current liabilities 2407981507.99 1256827634.78
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 30960138.38 33229246.47
Deferred income tax liabilities 19829559.43 22799814.64
Other non-current liabilities
Total non-current liabilities 50789697.81 56029061.11
Total liabilities 2458771205.80 1312856695.89
Owners’ equity:
Share capital 503600000.00 503600000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 1247162107.35 1247162107.35
Less: Treasury stock
Other comprehensive income
Specific reserve
Surplus reserves 251800000.00 251800000.00
Retained earnings 6649004531.68 6397131020.62
Total owners’ equity 8651566639.03 8399693127.97
Total liabilities and owners’ equity 11110337844.83 9712549823.86
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Revenues 2549799986.43 2214767350.88
Including: Operating revenue 2549799986.43 2214767350.88
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 1885809871.45 1606834684.29
Including: Cost of sales 624152232.61 549495046.47
Interest expense
Fee and commission
expense
Surrenders
Net insurance claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and levies 402468055.08 339483400.01
Selling expense 748923289.65 572186624.20
Administrative expense 172014543.60 155163347.70
Development costs 9160792.54 11055166.62
Finance costs -70909042.03 -20548900.71
Including: Interest
expense
2545311.69 12839179.18
Interest 73877260.84 31759206.44
income
Add: Other income 8517189.10 13878677.87
Return on investment (“-” for loss) -22742.18 28665355.29
Including: Share of profit or loss
of joint ventures and associates
-23296.27 34369.53
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
1614210.03 5994298.28
Credit impairment loss (“-” for
loss)
72803.53 0.00
Asset impairment loss (“-” for loss) 0.00 159351.46
Asset disposal income (“-” for
loss)
652222.96 103277.91
3. Operating profit (“-” for loss) 674823798.42 656733627.40
Add: Non-operating income 15645842.84 14398366.14
Less: Non-operating expense 532381.49 1313838.64
4. Gross profit (“-” for loss) 689937259.77 669818154.90
Less: Income tax expense 163813479.88 163503787.54
5. Net profit (“-” for net loss) 526123779.89 506314367.36
5.1 By operating continuity
5.1.1 Net profit from continuing
operations (“-” for net loss)
526123779.89 506314367.36
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
owners of the Company as the parent
512744399.70 493294846.62
5.2.2 Net profit attributable to
non-controlling interests
13379380.19 13019520.74
6. Other comprehensive income net of
tax
Attributable to owners of the Company
as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
profit or loss
6.2.1 Other comprehensive
income that will be reclassified to profit
or loss under the equity method
6.2.2 Changes in the fair value of
other debt investments
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
6.2.4 Credit impairment
allowance for other debt investments
6.2.5 Reserve for cash flow
hedges
6.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
6.2.7 Other
Attributable to non-controlling
interests
7. Total comprehensive income 526123779.89 506314367.36
Attributable to owners of the Company
as the parent
512744399.70 493294846.62
Attributable to non-controlling
interests
13379380.19 13019520.74
8. Earnings per share
8.1 Basic earnings per share 1.02 0.98
8.2 Diluted earnings per share 1.02 0.98
Legal representative: Liang Jinhui The Company’s chief accountant: Ye Changqing
Head of the Company’s financial department: Zhu Jiafeng
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Operating revenue 1387535259.17 1194365169.31
Less: Cost of sales 572200698.23 502553273.90
Taxes and levies 352722983.29 293611844.72
Selling expense 11494246.34 12543759.60
Administrative expense 106775670.23 106708524.92
Development costs 6421594.47 7250613.44
Finance costs -26982481.92 -17982297.10
Including: Interest expense 2325064.20 12839179.18
Interest income 29683102.10 30860960.92
Add: Other income 3057470.72 6167148.89
Return on investment (“-” for
loss)
70774329.09 10800845.34
Including: Share of profit or
loss of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
1614210.03 5994298.28
Credit impairment loss (“-” for
loss)
92587.48 0.00
Asset impairment loss (“-” for
loss)
Asset disposal income (“-” for
loss)
2. Operating profit (“-” for loss) 440441145.85 312641742.34
Add: Non-operating income 8019024.83 11030693.23
Less: Non-operating expense 178303.58 825676.96
3. Gross profit (“-” for loss) 448281867.10 322846758.61
Less: Income tax expense 89854575.45 80711689.66
4. Net profit (“-” for net loss) 358427291.65 242135068.95
4.1 Net profit from continuing
operations (“-” for net loss)
358427291.65 242135068.95
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income net of
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
schemes
5.1.2 Other comprehensive income
that will not be reclassified to profit or
loss under the equity method
5.1.3 Changes in the fair value of
investments in other equity instruments
5.1.4 Changes in the fair value
arising from changes in own credit risk
5.1.5 Other
5.2 Items that will be reclassified to
profit or loss
5.2.1 Other comprehensive income
that will be reclassified to profit or loss
under the equity method
5.2.2 Changes in the fair value of
other debt investments
5.2.3 Other comprehensive income
arising from the reclassification of
financial assets
5.2.4 Credit impairment allowance
for other debt investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.7 Other
6. Total comprehensive income 358427291.65 242135068.95
7. Earnings per share
7.1 Basic earnings per share 0.71 0.48
7.2 Diluted earnings per share 0.71 0.48
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Revenues 8069420987.05 8202880349.97
Including: Operating revenue 8069420987.05 8202880349.97
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 6048515730.11 6023415690.08
Including: Cost of sales 1938077825.09 1943651781.02
Interest expense
Fee and commission
expense
Surrenders
Net insurance claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and levies 1290465095.80 1209011162.05
Selling expense 2366972926.92 2412676063.90
Administrative expense 567702216.75 457208804.83
Development costs 24415175.52 25719404.29
Finance costs -139117509.97 -24851526.01
Including: Interest
expense
31518587.66 27013151.27
Interest
income
170768434.29 52225855.46
Add: Other income 23491542.76 44662596.55
Return on investment (“-” for loss) 18463230.02 106012402.82
Including: Share of profit or loss
of joint ventures and associates
-76927.61 -130624.66
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
-1981950.58 17314643.84
Credit impairment loss (“-” for
loss)
-315641.04 -317217.94
Asset impairment loss (“-” for loss) -5693185.77 -5945248.67
Asset disposal income (“-” for
loss)
730090.21 222766.47
3. Operating profit (“-” for loss) 2055599342.54 2341414602.96
Add: Non-operating income 36221004.38 25549129.67
Less: Non-operating expense 24806037.98 3051449.71
4. Gross profit (“-” for loss) 2067014308.94 2363912282.92
Less: Income tax expense 534449002.12 582649191.85
5. Net profit (“-” for net loss) 1532565306.82 1781263091.07
5.1 By operating continuity
5.1.1 Net profit from continuing
operations (“-” for net loss)
1532565306.82 1781263091.07
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
owners of the Company as the parent
1537681004.06 1741611160.63
5.2.2 Net profit attributable to
non-controlling interests
-5115697.24 39651930.44
6. Other comprehensive income net of
tax
Attributable to owners of the Company
as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
profit or loss
6.2.1 Other comprehensive
income that will be reclassified to profit
or loss under the equity method
6.2.2 Changes in the fair value of
other debt investments
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
6.2.4 Credit impairment
allowance for other debt investments
6.2.5 Reserve for cash flow
hedges
6.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
6.2.7 Other
Attributable to non-controlling
interests
7. Total comprehensive income 1532565306.82 1781263091.07
Attributable to owners of the Company
as the parent
1537681004.06 1741611160.63
Attributable to non-controlling
interests
-5115697.24 39651930.44
8. Earnings per share
8.1 Basic earnings per share 3.05 3.46
8.2 Diluted earnings per share 3.05 3.46
Legal representative: Liang Jinhui The Company’s chief accountant: Ye Changqing
Head of the Company’s financial department: Zhu Jiafeng
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Operating revenue 4684652431.66 4339047632.89
Less: Cost of sales 1889259961.85 1780471850.81
Taxes and levies 1179453881.90 1058210690.84
Selling expense 34395594.76 58430231.41
Administrative expense 394484033.50 309366786.60
Development costs 15559553.84 16286743.25
Finance costs -71779253.18 -20041354.26
Including: Interest expense 30614046.49 26846026.27
Interest income 102838354.42 48601883.96
Add: Other income 7680201.83 9539867.14
Return on investment (“-” for
loss)
83208919.30 42684714.10
Including: Share of profit or
loss of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
-1981950.58 17314643.84
Credit impairment loss (“-” for
loss)
633332.60 -186067.78
Asset impairment loss (“-” for
loss)
-5693185.77 -5945248.67
Asset disposal income (“-” for
loss)
60176.99 36552.41
2. Operating profit (“-” for loss) 1327186153.36 1199767145.28
Add: Non-operating income 23220421.09 20373416.46
Less: Non-operating expense 20667158.59 2050990.73
3. Gross profit (“-” for loss) 1329739415.86 1218089571.01
Less: Income tax expense 322465904.80 291973758.82
4. Net profit (“-” for net loss) 1007273511.06 926115812.19
4.1 Net profit from continuing
operations (“-” for net loss)
1007273511.06 926115812.19
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income net of
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
schemes
5.1.2 Other comprehensive income
that will not be reclassified to profit or
loss under the equity method
5.1.3 Changes in the fair value of
investments in other equity instruments
5.1.4 Changes in the fair value
arising from changes in own credit risk
5.1.5 Other
5.2 Items that will be reclassified to
profit or loss
5.2.1 Other comprehensive income
that will be reclassified to profit or loss
under the equity method
5.2.2 Changes in the fair value of
other debt investments
5.2.3 Other comprehensive income
arising from the reclassification of
financial assets
5.2.4 Credit impairment allowance
for other debt investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.7 Other
6. Total comprehensive income 1007273511.06 926115812.19
7. Earnings per share
7.1 Basic earnings per share 2.00 1.84
7.2 Diluted earnings per share 2.00 1.84
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
8647831451.67 8252482399.40
Net increase in customer deposits and
deposits from other banks and financial
institutions
Net increase in borrowings from the
central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
Net increase in deposits and
investments of policy holders
Interest fees and commissions
received
Net increase in loans from other
banks and financial institutions
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax and levy rebates 3381080.29 20674445.06
Cash generated from other operating
activities
2308969284.28 711377701.47
Subtotal of cash generated from
operating activities
10960181816.24 8984534545.93
Payments for commodities and
services
1792820288.01 1579978848.34
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and other banks and financial
institutions
Payments for claims on original
insurance contracts
Net increase in loans to other banks
and financial institutions
Interest fees and commissions paid
Policy dividends paid
Cash paid to and for employees 1893631550.54 1445715909.31
Taxes and levies paid 2454548768.00 2674734494.33
Cash used in other operating
activities
2239321023.11 1042733789.19
Subtotal of cash used in operating
activities
8380321629.66 6743163041.17
Net cash generated from/used in
operating activities
2579860186.58 2241371504.76
2. Cash flows from investing activities:
Proceeds from disinvestment 319970000.00 3337200054.88
Return on investment 18539603.54 131076489.02
Net proceeds from the disposal of
fixed assets intangible assets and other
long-lived assets
1932156.95 294196.00
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
investing activities
340441760.49 3468570739.90
Payments for the acquisition of fixed
assets intangible assets and other
long-lived assets
402634821.93 242619594.59
Payments for investments 64798000.00 2355560163.50
Net increase in pledged loans granted
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
activities
467432821.93 2598179758.09
Net cash generated from/used in
investing activities
-126991061.44 870390981.81
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings received 70325500.00 0.00
Cash generated from other financing
activities
Subtotal of cash generated from 70325500.00 0.00
financing activities
Repayment of borrowings
Interest and dividends paid 823969175.61 755400000.00
Including: Dividends paid by
subsidiaries to non-controlling interests
68058219.79 0.00
Cash used in other financing
activities
Subtotal of cash used in financing
activities
823969175.61 755400000.00
Net cash generated from/used in
financing activities
-753643675.61 -755400000.00
4. Effect of foreign exchange rates
changes on cash and cash equivalents
5. Net increase in cash and cash
equivalents
1699225449.53 2356362486.57
Add: Cash and cash equivalents
beginning of the period
2944749918.09 835560865.12
6. Cash and cash equivalents end of the
period
4643975367.62 3191923351.69
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
5538315335.29 4685243331.72
Tax and levy rebates 4448500.00
Cash generated from other operating
activities
1351067223.50 659722935.80
Subtotal of cash generated from
operating activities
6889382558.79 5349414767.52
Payments for commodities and
services
1645078712.99 1129158021.75
Cash paid to and for employees 630017481.25 503962356.85
Taxes and levies paid 1841118490.88 1655999073.07
Cash used in other operating
activities
510431619.37 248287619.33
Subtotal of cash used in operating
activities
4626646304.49 3537407071.00
Net cash generated from/used in
operating activities
2262736254.30 1812007696.52
2. Cash flows from investing activities:
Proceeds from disinvestment 287800000.00 1811640054.88
Return on investment 12434590.21 42691828.68
Net proceeds from the disposal of
fixed assets intangible assets and other
long-lived assets
68000.00 41304.23
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
investing activities
300302590.21 1854373187.79
Payments for the acquisition of fixed
assets intangible assets and other
long-lived assets
222464847.60 176617514.16
Payments for investments 21800000.00 726900163.50
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
activities
244264847.60 903517677.66
Net cash generated from/used in
investing activities
56037742.61 950855510.13
3. Cash flows from financing activities:
Capital contributions received
Borrowings received
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
Repayment of borrowings
Interest and dividends paid 755400000.00 755400000.00
Cash used in other financing
activities
Subtotal of cash used in financing
activities
755400000.00 755400000.00
Net cash generated from/used in
financing activities
-755400000.00 -755400000.00
4. Effect of foreign exchange rates
changes on cash and cash equivalents
5. Net increase in cash and cash
equivalents
1563373996.91 2007463206.65
Add: Cash and cash equivalents
beginning of the period
2079818830.20 708172917.59
6. Cash and cash equivalents end of the
period
3643192827.11 2715636124.24
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year (2020) of the New
Accounting Standards Governing Revenue and Leases
√ Applicable □ Not applicable
Whether the Company needs to adjust items in balance sheet at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2019 1 January 2020 Adjusted
Current assets:
Monetary assets 5619749918.09 5619749918.09
Settlement reserve
Loans to other banks and
financial institutions
Held-for-trading financial
assets
509031097.02 509031097.02
Derivative financial assets
Notes receivable 1004217431.56 1004217431.56
Accounts receivable 40776567.96 40776567.96
Receivables financing
Prepayments 197453313.96 197453313.96
Premiums receivable
Reinsurance receivables
Receivable reinsurance
contract reserve
Other receivables 25746957.22 25746957.22
Including: Interest
receivable
1908788.81 1908788.81
Dividends
receivable
Financial assets purchased
under resale agreements
Inventories 3015051961.78 3015051961.78
Contract assets
Assets held for sale
Current portion of
non-current assets
Other current assets 114439167.07 114439167.07
Total current assets 10526466414.66 10526466414.66
Non-current assets:
Loans and advances to
customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity
investments
4678282.24 4678282.24
Investments in other equity
instruments
Other non-current financial
assets
Investment property 4710086.02 4710086.02
Fixed assets 1722572998.79 1722572998.79
Construction in progress 183984816.07 183984816.07
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 785717932.76 785717932.76
Development costs
Goodwill 478283495.29 478283495.29
Long-term prepaid
expense
70240106.82 70240106.82
Deferred income tax assets 90494544.51 90494544.51
Other non-current assets 4148686.00 4148686.00
Total non-current assets 3344830948.50 3344830948.50
Total assets 13871297363.16 13871297363.16
Current liabilities:
Short-term borrowings
Borrowings from the
central bank
Loans from other banks
and financial institutions
Held-for-trading financial
liabilities
Derivative financial
liabilities
Notes payable 703679646.86 703679646.86
Accounts payable 563494195.40 563494195.40
Advances from customers 529863011.73 0.00 -529863011.73
Contract liabilities 0.00 529863011.73 529863011.73
Financial assets sold under
repurchase agreements
Customer deposits and
deposits from other banks
and financial institutions
Payables for acting trading
of securities
Payables for underwriting
of securities
Employee benefits payable 454189532.89 454189532.89
Taxes and levies payable 482903109.59 482903109.59
Other payables 1315878229.01 1315878229.01
Including: Interest
payable
Dividends
payable
Fees and commissions
payable
Reinsurance payables
Liabilities directly
associated with assets held
for sale
Current portion of
non-current liabilities
Other current liabilities 197484121.41 197484121.41
Total current liabilities 4247491846.89 4247491846.89
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term employee
benefits payable
Provisions
Deferred income 72778437.92 72778437.92
Deferred income tax
liabilities
118872366.61 118872366.61
Other non-current
liabilities
Total non-current liabilities 191650804.53 191650804.53
Total liabilities 4439142651.42 4439142651.42
Owners’ equity:
Share capital 503600000.00 503600000.00
Other equity instruments
Including: Preference
shares
Perpetual
bonds
Capital reserves 1295405592.25 1295405592.25
Less: Treasury stock
Other comprehensive
income
Specific reserve
Surplus reserves 256902260.27 256902260.27
General reserve
Retained earnings 6888203911.92 6888203911.92
Total equity attributable to
owners of the Company as
the parent
8944111764.44 8944111764.44
Non-controlling interests 488042947.30 488042947.30
Total owners’ equity 9432154711.74 9432154711.74
Total liabilities and owners’
equity
13871297363.16 13871297363.16
Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 December 2019 1 January 2020 Adjusted
Current assets:
Monetary assets 2919818830.20 2919818830.20
Held-for-trading financial
assets
489861097.02 489861097.02
Derivative financial assets
Notes receivable 378740100.82 378740100.82
Accounts receivable 218558555.07 218558555.07
Receivables financing
Prepayments 17906999.63 17906999.63
Other receivables 125219213.84 125219213.84
Including: Interest
receivable
301888.89 301888.89
Dividends
receivable
Inventories 2688839871.27 2688839871.27
Contract assets
Assets held for sale
Current portion of
non-current assets
Other current assets 1280998.32 1280998.32
Total current assets 6840225666.17 6840225666.17
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity
investments
1148213665.32 1148213665.32
Investments in other equity
instruments
Other non-current financial
assets
Investment property 4710086.02 4710086.02
Fixed assets 1310704771.36 1310704771.36
Construction in progress 84477784.02 84477784.02
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 243928047.95 243928047.95
Development costs
Goodwill
Long-term prepaid
expense
48354967.15 48354967.15
Deferred income tax assets 31360809.87 31360809.87
Other non-current assets 574026.00 574026.00
Total non-current assets 2872324157.69 2872324157.69
Total assets 9712549823.86 9712549823.86
Current liabilities:
Short-term borrowings
Held-for-trading financial
liabilities
Derivative financial
liabilities
Notes payable 49114582.04 49114582.04
Accounts payable 450303984.53 450303984.53
Advances from customers 31724.77 0.00 -31724.77
Contract liabilities 0.00 31724.77 31724.77
Employee benefits payable 100357808.20 100357808.20
Taxes and levies payable 371012223.50 371012223.50
Other payables 274053511.54 274053511.54
Including: Interest
payable
Dividends
payable
Liabilities directly
associated with assets held
for sale
Current portion of
non-current liabilities
Other current liabilities 11953800.20 11953800.20
Total current liabilities 1256827634.78 1256827634.78
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term employee
benefits payable
Provisions
Deferred income 33229246.47 33229246.47
Deferred income tax
liabilities
22799814.64 22799814.64
Other non-current
liabilities
Total non-current liabilities 56029061.11 56029061.11
Total liabilities 1312856695.89 1312856695.89
Owners’ equity:
Share capital 503600000.00 503600000.00
Other equity instruments
Including: Preference
shares
Perpetual
bonds
Capital reserves 1247162107.35 1247162107.35
Less: Treasury stock
Other comprehensive
income
Specific reserve
Surplus reserves 251800000.00 251800000.00
Retained earnings 6397131020.62 6397131020.62
Total owners’ equity 8399693127.97 8399693127.97
Total liabilities and owners’
equity
9712549823.86 9712549823.86
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2020
of the New Accounting Standards Governing Revenue and Leases
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.□Yes √ No
These financial statements have not been audited by such an auditor.
Chairman of the Board: (Liang Jinhui)
Anhui Gujing Distillery Company Limited
28 October 2020
