ANHUI GUJING DISTILLERY COMPANY LIMITED
FIRST QUARTER REPORT 2020
April 2020
Gujinggong Liquor Aged Original Liquor First Quarter Report 2020
2
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 the factuality accuracy and completeness of
the contents of this Report and its summary and shall be jointly and severally liable for any
misrepresentations misleading statements or material omissions therein.
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
factual accurate and complete.
3
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.□ Yes √ No
Q1 2020 Q1 2019 Change (%)
Operating revenue (RMB) 3281368602.79 3668502474.92 -10.55%
Net profit attributable to the listed
company’s shareholders (RMB)
636788443.69 783389904.73 -18.71%
Net profit attributable to the listed
company’s shareholders before exceptional
items (RMB)
635613633.02 749094364.21 -15.15%
Net cash generated from/used in operating
activities (RMB)
1632664980.49 1010701440.91 61.54%
Basic earnings per share (RMB/share) 1.26 1.56 -19.23%
Diluted earnings per share (RMB/share) 1.26 1.56 -19.23%
Weighted average return on equity (%) 6.87% 9.80% -2.93%
31 March 2020 31 December 2019 Change (%)
Total assets (RMB) 15392796907.36 13871297363.16 10.97%
Equity attributable to the listed company’s
shareholders (RMB)
9580900208.13 8944111764.44 7.12%
Exceptional gains and losses:
√ Applicable □ Not applicable
Unit: RMB
Item Q1 2020 Note
Gain or loss on disposal of non-current assets (inclusive of
impairment allowance write-offs)
-307977.07
Government subsidies charged to current profit or loss (exclusive
of government subsidies given in the Company’s ordinary course
of business at fixed quotas or amounts as per government’s
uniform standards)
6699623.47
Gain or loss on fair-value changes in held-for-trading financial
assets and liabilities and derivative financial assets and liabilities
& income from disposal of held-for-trading financial assets and
liabilities derivative financial assets and liabilities and other
investments in debt obligations (exclusive of effective portion of
8575450.88
4
hedges that arise in the Company’s ordinary course of business)
Non-operating income and expense other than above -13488778.69
Less: Income tax effects 376491.86
Non-controlling interests effects (net of tax) -72983.94
Total 1174810.67 --
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 Shareholders at 31 March 2020
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders at
the period-end
29696
Number of preferred
shareholders with resumed
voting rights at the period-end
(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 legal
person
53.89% 271404022 In pledge 114000000
GAOLING
FUNDL.P.
Foreign legal
person
2.47% 12446408
AGRICULTURAL
BANK OF
CHINA － E
FUND
CONSUMPTION
SECTOR STOCK
SECURITIES
INVESTMENT
FUND
Other 2.27% 11456769
CHINA INT'L Foreign legal 2.08% 10478152
5
CAPITAL CORP
HONG KONG
SECURITIES
LTD
person
UBS (LUX)
EQUITY FUND -
CHINA
OPPORTUNITY
(USD)
Foreign legal
person
1.40% 7068861
HONG KONG
SECURITIES
CLEARING
COMPANY LTD.
Foreign legal
person
1.33% 6686608
CENTRAL
HUIJIN ASSET
MANAGEMENT
CO. LTD.
State-owned legal
person
1.30% 6543600
GREENWOODS
CHINA ALPHA
MASTER FUND
Foreign legal
person
1.12% 5657150
INDUSTRIAL
AND
COMMERCIAL
BANK OF
CHINA
LIMITED-
INVESCO
GREAT WALL
EMERGING
GROWTH
HYBRID
SECURITIES
INVESTMENT
FUND
Other 1.01% 5099965
Bank of
China-China
Merchants China
Securities Liquor
Index
Classification
Securities
Investment Fund
Other 0.79% 3975130
6
Top 10 unrestricted shareholders
Name of shareholder Unrestricted shares held
Shares by type
Type Shares
ANHUI GUJING GROUP
COMPANY LIMITED
271404022
RMB-denominated
ordinary stock
271404022
GAOLING FUNDL.P. 12446408
Domestically
listed foreign stock
12446408
AGRICULTURAL BANK OF
CHINA－E FUND CONSUMPTION
SECTOR STOCK SECURITIES
INVESTMENT FUND
11456769
RMB-denominated
ordinary stock
11456769
CHINA INT'L CAPITAL CORP
HONG KONG SECURITIES LTD
10478152
Domestically
listed foreign stock
10478152
UBS (LUX) EQUITY FUND -
CHINA OPPORTUNITY (USD)
7068861
Domestically
listed foreign stock
7068861
HONG KONG SECURITIES
CLEARING COMPANY LTD.
6686608
RMB-denominated
ordinary stock
6686608
CENTRAL HUIJIN ASSET
MANAGEMENT CO. LTD.
6543600
RMB-denominated
ordinary stock
6543600
GREENWOODS CHINA ALPHA
MASTER FUND
5657150
Domestically
listed foreign stock
5657150
INDUSTRIAL AND
COMMERCIAL BANK OF CHINA
LIMITED- INVESCO GREAT
WALL EMERGING GROWTH
HYBRID SECURITIES
INVESTMENT FUND
5099965
RMB-denominated
ordinary stock
5099965
Bank of China-China Merchants
China Securities Liquor Index
Classification Securities Investment
Fund
3975130
RMB-denominated
ordinary stock
3975130
Related or acting-in-concert parties
among the shareholders above
Among the above shareholders the Company's controlling shareholder Anhui Gujing Group
Co. Ltd. has no relationship with other shareholders and does not belong to the
acting-in-concert stipulated in the Administrative Measures on Information Disclosure of
Changes in Shareholding of Listed Companies. In addition the relationship between other
shareholders is unknown and it is unknown whether it belongs to the acting-in-concert
stipulated in the Administrative Measures on Information Disclosure of Changes in
Shareholding of Listed Companies.Top 10 ordinary shareholders
involved in securities margin trading
N/A
7
(if any)
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 Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
8
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Balance sheet item
31 March 2020
(RMB)
31 December 2019
(RMB)
Change (%) Explanation of why
Held-for-trading financial
assets
233070455.11 509031097.02 -54.21%
Recovery of investments
in wealth management
products upon maturity
Notes receivable 1571372682.40 1004217431.56 56.48%
Increase in banker’s
acceptance bills received
Other receivables 68479612.33 25746957.22 165.97%
Increase in prepaid
deposits for land-use
fees
Other non-current assets 574026.00 4148686.00 -86.16%
Transfer of assets in
relation to prepayments
for equipment and
engineering services into
the corresponding asset
items
Advances from customers 1533322540.40 529863011.73 189.38% Increase in orders
Income statement item Q1 2020 (RMB) Q1 2019 (RMB) Change (%) Explanation of why
Return on investment 6550446.14 26924392.85 -75.67%
Decreased gains on
held-for-trading
financial assets
Gain on changes in fair
value
2015949.87 13070885.68 -84.58%
Disposal of
held-for-trading
financial assets
Non-operating expense 21568589.31 1002057.61 2052.43%
Donations made in the
COVID-19 outbreak
Cash flow statement item Q1 2020 (RMB) Q1 2019 (RMB) Change (%) Explanation of why
Net cash generated from
operating activities
1632664980.49 1010701440.91 61.54%
Increase in sales
collections
Net increase in cash and
cash equivalents
1799260060.40 1171124208.47 53.64%
Increase in sales
collections
II Progress Influence and Solutions with regard to Significant Events
□ Applicable √ Not applicable
9
Progress of any share repurchases:
□ 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 Parties Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.IV Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Varie
ty of
secur
ity
Sym
bol
of
secur
ity
Name of
security
Initial
investment
cost
Accounti
ng
measure
ment
model
Beginning
carrying
value
Gain/loss
of
changes
in fair
value in
the
Reportin
g Period
Accumul
ative
changes
in fair
value
recorded
into
equities
Purcha
sed in
the
Reporti
ng
Period
Sold in
the
Report
ing
Period
Gain/l
oss in
Report
ing
Period
Ending
carrying
value
Account
ing title
Capital
source
Oters
CITIC
Wings
Dapu
Asset
Manage
ment
Plan
20000000
0.00
Fair
value
21188450
5.24
201594
9.87
0.00 0.00 0.00 0.00
21390045
5.11
Trading
financia
l assets
Self-ow
ned
funds
Other investment
securities held at the
Period-end
-- -- --
Total
20000000
0.00
--
21188450
5.24
201594
9.87
0.00 0.00 0.00 0.00
21390045
5.11
-- --
Disclosure date of
announcement on
Board’s consent for
securities investment
27 August 2018
10
Disclosure date of
announcement on
shareholders’
meeting’s consent for
securities investment
(if any)
N/A
V Wealth Management Entrustment
√ Applicable □ Not applicable
Unit: RMB’0000
Type of wealth
management
Funding source Principal
Outstanding amount
before maturity
Overdue amount
Wealth management
product purchased from
entrustment
Self-funded 0.00 0.00 0.00
Wealth management
product purchased from
bank
Self-funded 28517.00 1917.00 0.00
Wealth management
product purchased from
broker
Self-funded 0.00 0.00 0.00
Others Self-funded 20000.00 20000.00 0.00
Total 48517.00 21917.00 0.00
High-risk wealth management entrustments with amounts that are individually significant or with low security low liquidity or no
protection of the principal:
Unit: RMB’0000
Trustee
Type
of
truste
e
Type of
wealth
manage
ment
product
Princi
pal
Fundin
g
source
St
art
dat
e
En
d
da
te
Investm
ent with
principa
l
Way
of
payb
ack
Refere
nce
annual
ized
return
(%)
Expe
cted
return
(if
any)
Actual
gain/l
oss in
Repor
ting
Period
Collection/p
ayment of
gain/loss in
Reporting
Period
Impair
ment
allowa
nce (if
any)
Throu
gh
prescri
bed
proced
ure or
not
Any
plan for
further
entrust
ment
Overvi
ew and
index
to more
inform
ation
(if any)
CITIC
Wings
Asset
Manage
ment
Compan
y
Comp
any
Limit
ed
Asset
manage
ment
plan
2000
0
Self-fu
nded
Purchas
ing new
shares
offline
fixed
income
instrum
1.2%
of
the
net
value
of
prod
7.00% 0.00 Not Yes Yes
11
Limited ents
and
Reverse
repurch
ase of
national
debt
etc
uct
and
20%
of
exces
s
earni
ngs
Total
2000
0
-- -- -- -- -- -- 0.00 -- -- -- --
VI Investments in Derivative Financial Instruments
□ Applicable √ Not applicable
No such cases in the Reporting Period.VII Communications with the Investment Community such as Researches Inquiries and
Interviews during the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.VIII Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.IX Occupation of the Company’s Capital by the Controlling Shareholder or Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
12
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited
31 March 2020
Unit: RMB
Item 31 March 2020 31 December 2019
Current assets:
Monetary assets 7034009978.49 5619749918.09
Settlement reserve
Interbank loans granted
Held-for-trading financial assets 233070455.11 509031097.02
Derivative financial assets
Notes receivable 1571372682.40 1004217431.56
Accounts receivable 40290782.16 40776567.96
Accounts receivable financing
Prepayments 138733478.63 197453313.96
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 68479612.33 25746957.22
Including: Interest receivable 2825141.55 1908788.81
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 2859622756.16 3015051961.78
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 86137117.02 114439167.07
Total current assets 12031716862.30 10526466414.66
13
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 4669227.37 4678282.24
Investments in other equity
instruments
Other non-current financial assets
Investment property 4630800.40 4710086.02
Fixed assets 1674133870.13 1722572998.79
Construction in progress 191417719.89 183984816.07
Productive living assets
Oil and gas assets
Use rights assets
Intangible assets 848029559.05 785717932.76
R&D expense
Goodwill 478283495.29 478283495.29
Long-term prepaid expense 63670348.57 70240106.82
Deferred income tax assets 95670998.36 90494544.51
Other non-current assets 574026.00 4148686.00
Total non-current assets 3361080045.06 3344830948.50
Total assets 15392796907.36 13871297363.16
Current liabilities:
Short-term borrowings
Borrowings from the central bank
Interbank loans obtained
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 738211591.13 703679646.86
Accounts payable 411542907.94 563494195.40
Advances from customers 1533322540.40 529863011.73
Contractual liabilities
Financial assets sold under
repurchase agreements
14
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of
securities
Payroll payable 384224877.75 454189532.89
Taxes payable 373051940.07 482903109.59
Other payables 1391162229.54 1315878229.01
Including: Interest payable
Dividends payable
Handling charges and commissions
payable
Reinsurance payables
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities 306024896.56 197484121.41
Total current liabilities 5137540983.39 4247491846.89
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 73488752.68 72778437.92
Deferred income tax liabilities 118680936.22 118872366.61
Other non-current liabilities
Total non-current liabilities 192169688.90 191650804.53
Total liabilities 5329710672.29 4439142651.42
Owners’ equity:
Share capital 503600000.00 503600000.00
15
Other equity instruments
Including: Preferred 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 7524992355.61 6888203911.92
Total equity attributable to owners of
the Company as the parent
9580900208.13 8944111764.44
Non-controlling interests 482186026.94 488042947.30
Total owners’ equity 10063086235.07 9432154711.74
Total liabilities and owners’ equity 15392796907.36 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 31 March 2020 31 December 2019
Current assets:
Monetary assets 3557888350.08 2919818830.20
Held-for-trading financial assets 213900455.11 489861097.02
Derivative financial assets
Notes receivable 938861434.30 378740100.82
Accounts receivable 5733623.45 218558555.07
Accounts receivable financing
Prepayments 35317002.77 17906999.63
Other receivables 167474179.97 125219213.84
Including: Interest receivable 301888.89 301888.89
Dividends receivable
Inventories 2511559652.56 2688839871.27
16
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 0.00 1280998.32
Total current assets 7430734698.24 6840225666.17
Non-current assets:
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 1148213665.32 1148213665.32
Investments in other equity
instruments
Other non-current financial assets
Investment property 4630800.40 4710086.02
Fixed assets 1271050338.41 1310704771.36
Construction in progress 95161823.49 84477784.02
Productive living assets
Oil and gas assets
Use rights assets
Intangible assets 308879065.37 243928047.95
R&D expense
Goodwill
Long-term prepaid expense 43390908.64 48354967.15
Deferred income tax assets 35161610.63 31360809.87
Other non-current assets 574026.00 574026.00
Total non-current assets 2907062238.26 2872324157.69
Total assets 10337796936.50 9712549823.86
Current liabilities:
Short-term borrowings
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 11190587.52 49114582.04
Accounts payable 284393594.02 450303984.53
Advances from customers 496928122.57 31724.77
17
Contractual liabilities
Payroll payable 77160831.60 100357808.20
Taxes payable 275694666.51 371012223.50
Other payables 289447502.04 274053511.54
Including: Interest payable
Dividends payable
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities 27157003.22 11953800.20
Total current liabilities 1461972307.48 1256827634.78
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 32320498.96 33229246.47
Deferred income tax liabilities 22866964.62 22799814.64
Other non-current liabilities
Total non-current liabilities 55187463.58 56029061.11
Total liabilities 1517159771.06 1312856695.89
Owners’ equity:
Share capital 503600000.00 503600000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 1247162107.35 1247162107.35
Less: Treasury stock
Other comprehensive income
Specific reserve
18
Surplus reserves 251800000.00 251800000.00
Retained earnings 6818075058.09 6397131020.62
Total owners’ equity 8820637165.44 8399693127.97
Total liabilities and owners’ equity 10337796936.50 9712549823.86
3. Consolidated Income Statement
Unit: RMB
Item Q1 2020 Q1 2019
1. Revenue 3281368602.79 3668502474.92
Including: Operating revenue 3281368602.79 3668502474.92
Interest income
Premium income
Handling charge and
commission income
2. Costs and expenses 2443221802.41 2662463799.11
Including: Cost of sales 744305924.63 799244679.69
Interest expense
Handling charge and
commission expense
Surrenders
Net claims paid
Net amount provided as
policy reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and surcharges 520124639.27 540036699.39
Selling expense 989447585.63 1167562403.83
Administrative expense 194176267.66 150969173.04
R&D expense 7670570.59 6419946.84
Finance costs -12503185.37 -1769103.68
Including: Interest
expense
24441197.03 8705507.36
Interest
income
33840686.32 9334113.54
Add: Other income 6699623.47 7094400.70
19
Return on investment (“-” for loss) 6550446.14 26924392.85
Including: Share of profit or loss
of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Foreign exchange gain (“-” for
loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
for loss)
2015949.87 13070885.68
Credit impairment loss (“-” for
loss)
Asset impairment loss (“-” for loss)
Asset disposal income (“-” for
loss)
0.00 83202.85
3. Operating profit (“-” for loss) 853412819.86 1053211557.89
Add: Non-operating income 7771833.55 5335678.12
Less: Non-operating expense 21568589.31 1002057.61
4. Profit before tax (“-” for loss) 839616064.10 1057545178.40
Less: Income tax expense 208684540.77 262026857.84
5. Net profit (“-” for net loss) 630931523.33 795518320.56
5.1 By operating continuity
5.1.1 Net profit from continuing
operations (“-” for net loss)
630931523.33 795518320.56
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
636788443.69 783389904.73
5.2.1 Net profit attributable to
non-controlling interests
-5856920.36 12128415.83
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
20
6.1.1 Changes caused by
remeasurements on defined benefit
pension 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 of
the company’s credit risks
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
investments in other debt obligations
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
6.2.4 Allowance for credit
impairments in investments in other debt
obligations
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 630931523.33 795518320.56
Attributable to owners of the Company
as the parent
636788443.69 783389904.73
Attributable to non-controlling
interests
-5856920.36 12128415.83
8. Earnings per share
8.1 Basic earnings per share 1.26 1.56
8.2 Diluted earnings per share 1.26 1.56
21
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
Unit: RMB
Item Q1 2020 Q1 2019
1. Operating revenue 1955751391.93 1921463298.13
Less: Cost of sales 745868987.92 742536052.02
Taxes and surcharges 489478469.41 476220710.41
Selling expense 11672221.60 23013905.78
Administrative expense 136739496.58 95871680.28
R&D expense 4711335.12 3489301.54
Finance costs -7589655.72 -161036.71
Including: Interest expense 24441197.03 8705507.36
Interest income 31763500.03 8909103.52
Add: Other income 3239267.51 2256134.13
Return on investment (“-” for
loss)
454487.68 18762552.86
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)
2015949.87 13070885.68
Credit impairment loss (“-” for
loss)
Asset impairment loss (“-” for
loss)
Asset disposal income (“-” for
loss)
2. Operating profit (“-” for loss) 580580242.08 614582257.48
Add: Non-operating income 7311719.12 4461000.86
Less: Non-operating expense 20307303.87 676321.68
3. Profit before tax (“-” for loss) 567584657.33 618366936.66
22
Less: Income tax expense 146640619.86 156762955.60
4. Net profit (“-” for net loss) 420944037.47 461603981.06
4.1 Net profit from continuing
operations (“-” for net loss)
420944037.47 461603981.06
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
pension 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 of
the company’s credit risks
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
investments in other debt obligations
5.2.3 Other comprehensive income
arising from the reclassification of
financial assets
5.2.4 Allowance for credit
impairments in investments in other
debt obligations
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 420944037.47 461603981.06
23
7. Earnings per share
7.1 Basic earnings per share 0.84 0.92
7.2 Diluted earnings per share 0.84 0.92
5. Consolidated Cash Flow Statement
Unit: RMB
Item Q1 2020 Q1 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
4415909823.78 3282900142.53
Net increase in customer deposits and
interbank deposits
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 handling charges and
commissions received
Net increase in interbank loans
obtained
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax rebates 509255.64
Cash generated from other operating
activities
545462243.63 183731144.88
Subtotal of cash generated from
operating activities
4961881323.05 3466631287.41
Payments for commodities and
services
705160011.76 437253627.58
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and in interbank loans granted
24
Payments for claims on original
insurance contracts
Net increase in interbank loans
granted
Interest handling charges and
commissions paid
Policy dividends paid
Cash paid to and for employees 696654167.45 506211004.64
Taxes paid 1165366246.78 1180474817.64
Cash used in other operating
activities
762035916.57 331990396.64
Subtotal of cash used in operating
activities
3329216342.56 2455929846.50
Net cash generated from/used in
operating activities
1632664980.49 1010701440.91
2. Cash flows from investing activities:
Proceeds from disinvestment 299000000.00 1155560000.00
Return on investment 20142992.71 24174323.96
Net proceeds from the disposal of
fixed assets intangible assets and other
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
investing activities
319142992.71 1179734323.96
Payments for the acquisition of fixed
assets intangible assets and other
long-lived assets
119547912.80 67651556.40
Payments for investments 33000000.00 951660000.00
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
152547912.80 1019311556.40
Net cash generated from/used in
investing activities
166595079.91 160422767.56
3. Cash flows from financing activities:
25
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings obtained
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
Repayments of borrowings
Payments for interest and dividends
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing
activities
Subtotal of cash used in financing
activities
Net cash generated from/used in
financing activities
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
equivalents
1799260060.40 1171124208.47
Add: Cash and cash equivalents
beginning of the period
2944749918.09 835560865.12
6. Cash and cash equivalents end of the
period
4744009978.49 2006685073.59
6. Cash Flow Statement of the Company as the Parent
Unit: RMB
Item Q1 2020 Q1 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities
and rendering of services
3872253908.69 1787341935.99
Tax rebates
Cash generated from other operating
activities
813392594.48 147002588.20
Subtotal of cash generated from
operating activities
4685646503.17 1934344524.19
Payments for commodities and
services
425500062.63 466775831.06
26
Cash paid to and for employees 231275877.43 184167857.56
Taxes paid 911117511.13 778863559.94
Cash used in other operating
activities
2328037144.91 69443644.99
Subtotal of cash used in operating
activities
3895930596.10 1499250893.55
Net cash generated from/used in
operating activities
789715907.07 435093630.64
2. Cash flows from investing activities:
Proceeds from disinvestment 266000000.00 850000000.00
Return on investment 12431079.46 18769315.08
Net proceeds from the disposal of
fixed assets intangible assets and other
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
investing activities
278431079.46 868769315.08
Payments for the acquisition of fixed
assets intangible assets and other
long-lived assets
90077466.65 53184977.36
Payments for investments 0.00 716000000.00
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
activities
90077466.65 769184977.36
Net cash generated from/used in
investing activities
188353612.81 99584337.72
3. Cash flows from financing activities:
Capital contributions received
Borrowings obtained
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
Repayments of borrowings
Payments for interest and dividends
27
Cash used in other financing
activities
Subtotal of cash used in financing
activities
Net cash generated from/used in
financing activities
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
equivalents
978069519.88 534677968.36
Add: Cash and cash equivalents
beginning of the period
2079818830.20 708172917.59
6. Cash and cash equivalents end of the
period
3057888350.08 1242850885.95
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year of any New
Standards Governing Revenue or Leases from 2020
□ Applicable √ Not applicable
2. Retrospective Restatement of Previous Comparative Data due to the First Execution of any New
Standards Governing Revenue or Leases from 2020
□ 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
24 April 2020
