ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2023
October 2023Third Quarterly Report 2023
Stock Code: 000596 200596 Stock Name: Gujing Distillery Gujing Distillery -B Announcement No. 2023-035
ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2023
Anhui Gujing Distillery Company Limited (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 Notes:
1. The Board of Directors (or the “Board”) the Supervisory Committee as well as the directors supervisors and senior managemen t
of the Company hereby guarantee that the contents of this Report 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.
2. The Company’s legal representative Chief Accountant and head of the financial department (equivalent to financial manager)
hereby guarantee that the financial statements carried in this Report are truthful accurate and complete.
3. Indicate by tick mark whether the financial statements in this Report have been audited by an independent auditor.
□Yes □ No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.□Applicable □ Not applicable
Q3 2023 YoY change (%) Q1-Q3 2023 YoY change (%)
Operating revenue
4642653988.7723.39%15952670483.8724.98%
(RMB)
Net profit attributable
to the listed company’s 1033160506.48 46.78% 3812634873.99 45.37%
shareholders (RMB)
Net profit attributable
to the listed company’s
shareholders before 1012080336.13 46.86% 3743201226.89 45.19%
exceptional gains and
losses (RMB)
2Third Quarterly Report 2023
Net cash generated
from/used in operating — — 5719625786.18 12.98%
activities (RMB)
Basic earnings per
1.9546.62%7.2145.36%
share (RMB/share)
Diluted earnings per
1.9546.62%7.2145.36%
share (RMB/share)
Weighted average
5.11%1.12%18.67%3.98%
return on equity (%)
30 September 2023 31 December 2022 Change (%)
Total assets (RMB) 34965642084.84 29789822298.65 17.37%
Equity attributable to
the listed company’s 20739862947.65 18520757973.52 11.98%
shareholders (RMB)
(II) Exceptional Gains and Losses
□ Applicable □ Not applicable
Unit: RMB
Item Q3 2023 Q1-Q3 2023 Note
Gain or loss on disposal of
non-current assets (inclusive
-119559.93-1303447.85
of impairment allowance
write-offs)
Government grants through
profit or loss (exclusive of
government grants
continuously given in the
Company’s ordinary course of 8570084.63 35674662.51
business at fixed quotas or
amounts as per the
government’s policies and
standards)
Gain or loss on fair-value
changes on held-for-trading
financial assets and liabilities
& income from disposal of
7114146.3232114546.43
held-for-trading financial
assets and liabilities and
available-for-sale financial
assets (exclusive of the
3Third Quarterly Report 2023
effective portion of hedges
that arise in the Company’s
ordinary course of business)
Reversed portions of
impairment allowances for
0.0098239.02
receivables which are tested
individually for impairment
Non-operating income and
14821789.7640527094.62
expense other than the above
Less: Income tax effects 7331848.20 26316671.11
Non-controlling
1974442.2311360776.52
interests effects (net of tax)
Total 21080170.35 69433647.10 --
Other items that meet the definition of exceptional gain/loss:
□Applicable □ Not applicable
No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item 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 in the Reporting Period.(III) Changes in Key Financial Statement Line Items and Explanation
□ Applicable □ Not applicable
30 September 2023 1 January 2023
Balance sheet items Change (%) Main reason for change
(RMB) (RMB)
Held-for-trading Disinvestment in wealth management
714701677.181782687769.66-59.91%
financial assets products upon maturity
Increased bank acceptance notes
Receivables financing 1641927221.94 217419441.32 655.19%
received
Increased payments for sales promotion
Other receivables 161544175.02 73337415.74 120.28%
and marketing
Investment property 47541712.04 13396881.96 254.87% Increase in properties leased out
Short-term borrowings 0.00 8 3 2 3 2 1 7 6 .3 1 -1 0 0 . 00% Repayment of short-term borrowings
Contract liabilities 3315119200.42 826636478.35 301.04% Increased sales orders
Increased borrowings of Yellow Crane
Long-term borrowings 174253006.94 44944737.91 287.71%
Tower
4Third Quarterly Report 2023
Income statement items Q1-Q3 2023 (RMB) Q1-Q3 2022 (RMB) Change (%) Main reason for change
Operating profit 5214565034.18 3628606316.21 43.71% Increased sales revenue
Increased fines and compensation
Non-operating income 64536823.91 39321949.96 64.12%
income
Non-operating expense 25617256.03 10747776.47 138.35% Increased donation expenditures
Net profit 3910758500.21 2708722768.34 44.38% Increased sales revenue
Cash flow statement
Q1-Q3 2023 (RMB) Q1-Q3 2022 (RMB) Change (%) Main reason for change
items
Tax and levy rebates 27474101.01 4225211.17 550.24% Increased tax and levy rebates
Proceeds from Decreased disinvestment in wealth
1830098239.028167512732.49-77.59%
disinvestment management products upon maturity
Increased borrowings of Yellow Crane
Borrowings received 149200000.00 60000000.00 148.67%
Tower
Interest and dividends
1594882967.48 1167345271.14 36.62% Increased dividend payout
paid
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well
as Holdings of Top 10 Shareholders
Unit: share
Number of preference
Number of ordinary shareholders 25795 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders
Name of Nature of Shareholding Restricted shares Shares in pledge marked or frozen
Total shares held
shareholder shareholder percentage held Status Shares
ANHUI GUJING
GROUP State-owned legal
51.13% 270259022 In pledge 30000000
COMPANY person
LIMITED
BANK OF
CHINA-CHINA
MERCHANTS
Other 1.95% 10296679
CHINA
SECURITIES
LIQUOR INDEX
5Third Quarterly Report 2023
CLASSIFICATI
ON
SECURITIES
INVESTMENT
FUND
INDUSTRIAL
AND
COMMERCIAL
BANK OF
CHINA
LIMITED-
INVESCO
Other 1.89% 9999951
GREAT WALL
EMERGING
GROWTH
HYBRID
SECURITIES
INVESTMENT
FUND
AGRICULTURA
L BANK OF
CHINA － E
FUND
CONSUMPTION
Other 1.60% 8476808
SECTOR
STOCK
SECURITIES
INVESTMENT
FUND
CHINA
INTERNATION
AL CAPITAL
Foreign legal
CORPORATION 1.60% 8468764
person
HONG KONG
SECURITIES
LTD
UBS (LUX)
EQUITY FUND -
Foreign legal
CHINA 1.30% 6896661
person
OPPORUNITY
(USD)
HONG KONG Foreign legal
1.29%6840456
SECURITIES person
6Third Quarterly Report 2023
CLEARING
COMPANY LTD.GAOLING Foreign legal
1.23%6523428
FUNDL.P. person
GREENWOODS
Foreign legal
CHINA ALPHA 1.14% 6049760
person
MASTER FUND
BANK OF
CHINA-
INVESCO
GREAT WALL
DINGYI Other 0.95% 5017603
HYBRID
SECURITIES
INVESTMENT
FUND (LOF)
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
ANHUI GUJING GROUP RMB-denominate
270259022270259022
COMPANY LIMITED d ordinary share
BANK OF CHINA-CHINA
MERCHANTS CHINA
RMB-denominate
SECURITIES LIQUOR INDEX 10296679 10296679
d ordinary share
CLASSIFICATION SECURITIES
INVESTMENT FUND
INDUSTRIAL AND
COMMERCIAL BANK OF CHINA
LIMITED- INVESCO GREAT RMB-denominate
99999519999951
WALL EMERGING GROWTH d ordinary share
HYBRID SECURITIES
INVESTMENT FUND
AGRICULTURAL BANK OF
CHINA － E FUND
RMB-denominate
CONSUMPTION SECTOR STOCK 8476808 8476808
d ordinary share
SECURITIES INVESTMENT
FUND
CHINA INTERNATIONAL Domestically
CAPITAL CORPORATION HONG 8468764 listed foreign 8468764
KONG SECURITIES LTD share
UBS (LUX) EQUITY FUND - 6896661 Domestically 6896661
7Third Quarterly Report 2023
CHINA OPPORUNITY (USD) listed foreign
share
HONG KONG SECURITIES RMB-denominate
68404566840456
CLEARING COMPANY LTD. d ordinary share
Domestically
GAOLING FUNDL.P. 6523428 listed foreign 6523428
share
Domestically
GREENWOODS CHINA ALPHA
6049760 listed foreign 6049760
MASTER FUND
share
BANK OF CHINA- INVESCO
GREAT WALL DINGYI HYBRID RMB-denominate
50176035017603
SECURITIES INVESTMENT d ordinary share
FUND (LOF)
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
Related or acting-in-concert parties
Changes in Shareholding of Listed Companies. As for the other shareholders the Company
among the shareholders above
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.Since October 2021 the Company's controlling shareholder Gujing Group has conducted the
Top 10 shareholders engaged in
business of "Refinancing by Lending Securities" and as of 30 September 2023 1145000
securities margin trading (if any)
lent shares were outstanding with no transfer of the ownership of these shares.(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable □ Not applicable
III Other Significant Events
□Applicable □ Not applicable
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited
30 September 2023
Unit: RMB
Item 30 September 2023 1 January 2023
8Third Quarterly Report 2023
Current assets:
Monetary assets 16674461050.61 13772561141.30
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 714701677.18 1782687769.66
Derivative financial assets
Notes receivable
Accounts receivable 69919303.13 62688668.94
Receivables financing 1641927221.94 217419441.32
Prepayments 182970049.15 233995661.69
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 161544175.02 73337415.74
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 6443609531.05 6058106090.88
Contract assets 546215.81 1855188.15
Assets held for sale
Current portion of non-current assets
Other current assets 138606664.16 125568725.51
Total current assets 26028285888.05 22328220103.19
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 10252431.80 10154235.98
Investments in other equity
61861300.9456447789.94
instruments
Other non-current financial assets
Investment property 47541712.04 13396881.96
Fixed assets 3281309747.06 2741844586.30
Construction in progress 3232341722.77 2454703251.44
Productive living assets
Oil and gas assets
Right-of-use assets 21766880.71 32562171.10
9Third Quarterly Report 2023
Intangible assets 1121288641.64 1108125157.05
Development costs
Goodwill 561364385.01 561364385.01
Long-term prepaid expense 43927982.54 51012977.31
Deferred income tax assets 549867392.28 425120227.37
Other non-current assets 5834000.00 6870532.00
Total non-current assets 8937356196.79 7461602195.46
Total assets 34965642084.84 29789822298.65
Current liabilities:
Short-term borrowings 0.00 83232176.31
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 651730000.00 695740000.00
Accounts payable 1990227349.54 2054063559.15
Advances from customers
Contract liabilities 3315119200.42 826636478.35
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 803208846.38 795138305.63
Taxes and levies payable 1209240467.45 1205028130.02
Other payables 3030133666.08 3261763838.80
Including: Interest payable
Dividends payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
29209387.5242237345.11
liabilities
Other current liabilities 1778095703.03 1044664441.58
Total current liabilities 12806964620.42 10008504274.95
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 174253006.94 44944737.91
10Third Quarterly Report 2023
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 11061561.34 18631395.93
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 101044927.56 103714978.95
Deferred income tax liabilities 282776407.66 281173154.70
Other non-current liabilities
Total non-current liabilities 569135903.50 448464267.49
Total liabilities 13376100523.92 10456968542.44
Owners’ equity:
Share capital 528600000.00 528600000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 6224747667.10 6224747667.10
Less: Treasury stock
Other comprehensive income -7321160.25 408739.61
Specific reserve
Surplus reserves 269402260.27 269402260.27
General reserve
Retained earnings 13724434180.53 11497599306.54
Total equity attributable to owners of the
20739862947.6518520757973.52
Company as the parent
Non-controlling interests 849678613.27 812095782.69
Total owners’ equity 21589541560.92 19332853756.21
Total liabilities and owners’ equity 34965642084.84 29789822298.65
Legal representative: Liang Jinhui The Company’s chief accountant: Zhu Jiafeng
Head of the Company’s financial department: Zhu Jiafeng
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2023 Q1~Q3 2022
1. Revenues 15952670483.87 12764649465.86
Including: Operating revenue 15952670483.87 12764649465.86
Interest income
Insurance premium income
Fee and commission
income
11Third Quarterly Report 2023
2. Costs and expenses 10754223608.52 9154472902.48
Including: Cost of sales 3343855826.63 3011925609.00
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 2293099280.99 1960651152.86
Selling expense 4363197563.47 3623969601.99
Administrative expense 872449543.70 734363784.44
Development costs 45407554.86 41679560.88
Finance costs -163786161.13 -218116806.69
Including: Interest
1727067.524155901.18
expense
Interest
167923759.11221611375.12
income
Add: Other income 35670066.51 39335812.58
Return on investment (“-” for loss) -32592873.01 -21522470.03
Including: Share of profit or loss
98195.82146546.88
of joint ventures and associates
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 (“-”
30454851.54-3361722.75
for loss)
Credit impairment loss (“-” for
89755.67-1073688.58
loss)
Asset impairment loss (“-” for
-17812316.774343131.74
loss)
Asset disposal income (“-” for
308674.89708689.87
loss)
3. Operating profit (“-” for loss) 5214565034.18 3628606316.21
Add: Non-operating income 64536823.91 39321949.96
12Third Quarterly Report 2023
Less: Non-operating expense 25617256.03 10747776.47
4. Gross profit (“-” for loss) 5253484602.06 3657180489.70
Less: Income tax expense 1342726101.85 948457721.36
5. Net profit (“-” for net loss) 3910758500.21 2708722768.34
5.1 By operating continuity
5.1.1 Net profit from continuing
3910758500.212708722768.34
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
shareholders of the Company as the 3812634873.99 2622689684.69
parent (“-” for net loss)
5.2.2 Net profit attributable to
98123626.2286033083.65
non-controlling interests (“-” for net loss)
6. Other comprehensive income net of
-6160008.30-143129.94
tax
Attributable to owners of the
-7729899.86-1228532.91
Company as the parent
6.1 Items that will not be
2436079.941498953.52
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
2436079.941498953.52
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
-10165979.80-2727486.43
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 -10165979.80 -2727486.43
of financial assets
6.2.4 Credit impairment
13Third Quarterly Report 2023
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
1569891.561085402.97
interests
7. Total comprehensive income 3904598491.91 2708579638.40
7.1 Attributable to owners of the
3804904974.132621461151.78
Company as the parent
7.2 Attributable to non-controlling
99693517.7887118486.62
interests
8. Earnings per share
8.1 Basic earnings per share 7.21 4.96
8.2 Diluted earnings per share 7.21 4.96
Legal representative: Liang Jinhui The Company’s chief accountant: Zhu Jiafeng
Head of the Company’s financial department: Zhu Jiafeng
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2023 Q1~Q3 2022
1. Cash flows from operating activities:
Proceeds from sale of commodities
17349755297.2613992713794.24
and rendering of services
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
14Third Quarterly Report 2023
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 27474101.01 4225211.17
Cash generated from other operating
1219982214.13735658255.69
activities
Subtotal of cash generated from
18597211612.4014732597261.10
operating activities
Payments for commodities and
2744644703.852056810320.53
services
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 2822198725.74 2333432357.97
Taxes and levies paid 5350100855.40 4097395265.60
Cash used in other operating activities 1960641541.23 1182225879.28
Subtotal of cash used in operating
12877585826.229669863823.38
activities
Net cash generated from/used in
5719625786.185062733437.72
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 1830098239.02 8167512732.49
Return on investment 50105869.81 1067121.16
Net proceeds from the disposal of
fixed assets intangible assets and other 1375735.00 1486883.80
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
1881579843.838170066737.45
investing activities
15Third Quarterly Report 2023
Payments for the acquisition of fixed
assets intangible assets and other 1693381360.26 1234207242.10
long-lived assets
Payments for investments 765000000.00 2514575094.67
Net increase in pledged loans granted
Net payments for the acquisition of
13439262.050.00
subsidiaries and other business units
Cash used in other investing activities
Subtotal of cash used in investing
2471820622.313748782336.77
activities
Net cash generated from/used in
-590240778.484421284400.68
investing activities
3. Cash flows from financing activities:
Capital contributions received 4000000.00 6000000.00
Including: Capital contributions by
4000000.006000000.00
non-controlling interests to subsidiaries
Borrowings received 149200000.00 60000000.00
Cash generated from other financing
activities
Subtotal of cash generated from
153200000.0066000000.00
financing activities
Repayment of borrowings 113000000.00 130891054.01
Interest and dividends paid 1594882967.48 1167345271.14
Including: Dividends paid by
5304511.690.00
subsidiaries to non-controlling interests
Cash used in other financing activities 21678419.83 12248812.01
Subtotal of cash used in financing
1729561387.311310485137.16
activities
Net cash generated from/used in
-1576361387.31-1244485137.16
financing activities
4. Effect of foreign exchange rates
changes on cash and cash equivalents
5. Net increase in cash and cash
3553023620.398239532701.24
equivalents
Add: Cash and cash equivalents
13105373435.226057550178.60
beginning of the period
6. Cash and cash equivalents end of the
16658397055.6114297082879.84
period
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation of
the New Accounting Standards Implemented since 2023
□ Applicable □ Not applicable
16Third Quarterly Report 2023
(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.Anhui Gujing Distillery Company Limited
Board of Directors
28 October 2023
17
