2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
Shares Code: 000869、200869 Shares Abbreviation: Changyu A、Changyu B Notice No.: 2019-Final04
Yantai Changyu Pioneer Wine Company Limited
2019 the Third Quarter Report Main Body
October 2019
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
I. Important Notice
The board of directors, the board of supervisors, directors, supervisors and senior executives
of the Company guarantee the truthfulness, accuracy and completeness of the contents
contained in the third quarter report with no false records, misleading statements or
significant omissions, and undertake individual and joint legal liabilities.
All directors attended the meeting for deliberating this quarter re port.
Mr. Zhou Hongjiang (Person in charge of the Company), Mr. Jiang Jianxun (Pe rson in
charge of accounting work) and M rs. Guo Cuimei (Person in charge of accounting organ &
Accountant in charge) assure the truthfulness, accuracy and completeness of the financial
statements in the third quarter report.
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
II、Corporate Information
1. Key accounting data and financial indicators
Whether the Company makes retroactive adjustments or restates the accounting data of previous
fiscal years.
□Yes √ No
The end of this The end of last year More or less than
report period last year (%)
Total assets (CNY) 13,191,032,907.00 13,117,729,052.00 0.56%
Net Assets attributed to the
shareholders of the listed 9,900,902,802.00 9,606,099,365.00 3.07%
company (CNY)
From the More or
More or less than beginning of the less than
This report period
last year (%) year to the end of last year
this report period (%)
Operating income (CNY) 968,100,175.00 -6.22% 3,526,374,960.00 -8.66%
Net profit attributed to the
shareholders of the listed 125,557,834.00 -6.24% 728,961,623.00 -5.30%
company (CNY)
Net profit attributed to the
shareholders of the listed
company after deducting the 119,702,422.00 8.31% 672,193,117.00 -6.28%
irregular profit and loss
(CNY)
Net cash flow from operating
-- -- 645,331,713.00 -16.93%
activities (CNY)
Basic earnings per share
0.18 -5.26% 1.06 -5.36%
(CNY)
Diluted earnings per share
0.18 -5.26% 1.06 -5.36%
(CNY)
Weighted average for earning
1.31% -0.12% 7.38% -0.97%
rate of the net assets
Details of irregular profit and loss
√Available □Not available
Unit：CNY
Amount from the
Item beginning of the year to Explanation
the end of report period
Gain on disposal of non-current assets, including
-166,664.00
the reversal of accrued impairment provision
Government grants credited in profit and loss
(except for those recurring government grants
69,007,365.00
that are closely related to the entity's operation,
in line with related regulations and have proper
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
basis of calculation)
In addition to the effective hedging business
related to the Company’s normal business, the
profit and loss from changes in fair value arising
from the holding of transactional financial assets,
derivative financial assets, transactional financial
liabilities and derivative financial liabilities, and 830,841.00
the investment income from disposal of
transactional financial assets, derivative financial
assets, transactional financial liabilities,
derivative financial liabilities and other debt
investments
Other non-operating income and expenses 5,352,597.00
Less: Income tax effect 18,196,023.00
Minority interests effect(after-tax) 59,610.00
Total 56,768,506.00 --
The reasons shall be made clear and definitely as to the irregular profit and loss that the Company has
defined by virtue of the Explanatory Announcement on Public Company’s Information Disclosure No.1
- Irregular Profit and Loss and as to regarding the irregular profit and loss as recurrent profit and loss as
specified in the Explanatory Announcement on Public Company’s Information Disclosure No.1 -
Irregular Profit and Loss.
□Available √Not available
There is no situation regarding the non-recurring profit and loss as defined and specified in the
Explanatory Announcement on Public Company’s Information Disclosure No.1 - Non-recurring
Profit and Loss as recurrent profit and loss.
2. The total number of s hareholders and the shareholding of top 10 shareholders at the end
of the report period
1) The total number of common shareholders and the total number of preferred shareholders with
recovered voting power as well as the shareholding of top 10 shareholders
Unit: share
42639 Total number of preferred 0
Total number of common
shareholders with recovere
shareholders at the end of report
d voting power at the end o
period
f report period (if have)
The top 10 common shareholders
Number Pledged or
Shareholdin Number of of frozen
Character of
Name of Shareholders g ratio holding restricte
shareholders Share Num
(%) shares d
status ber
shares
Domestic non-
YANTAI CHANGYU GROUP
state-owned 50.40% 345,473,856 0 -- 0
CO. LTD.
legal person
GAOLING FUND,L.P. Foreign legal 3.08% 21,090,219 0 -- 0
person
CHINA SECURITIES State-owned 2.25% 15,440,794 0 -- 0
FINANCE CORP legal person
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
BBH BOS S/A FIDELITY FD - Foreign legal
2.22% 15,241,826 0 -- 0
CHINA FOCUS FD person
SHENWAN HONGYUAN
Foreign legal
SECURITIES(HONG KONG) 1.27% 8,732,233 0 -- 0
person
LIMITED
FIDELITY PURITAN TRUST:
Foreign legal
FIDELITY SERIES INTRINSIC 0.93% 6,350,762 0 -- 0
person
OPPORTUNITIES FUND
GUOTAI JUNAN
Foreign legal
SECURITIES(HONGKONG) 0.76% 5,207,553 0 -- 0
person
LIMITED
CENTRAL HUIJIN ASSET State-owned
0.69% 4,761,200 0 -- 0
MANAGEMENT LTD. legal person
VANGUARD EMERGING
Foreign legal
MARKETS STOCK INDEX 0.55% 3,788,487 0 -- 0
person
FUND
FIDELITY CHINA SPECIAL Foreign legal
0.55% 3,779,202 0
SITUATIONS PLC person
The shareholding of top 10 shareholders with unrestricted shares
Name of Shareholders Number of Type of share
unrestricted Type of Number
shares held share
YANTAI CHANGYU GROUP CO. LTD. 345,473,856 A share 345,473,856
GAOLING FUND,L.P. 21,090,219 B share 21,090,219
CHINA SECURITIES FINANCE CORP 15,440,794 A share 15,440,794
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 15,241,826 B share 15,241,826
SHENWAN HONGYUAN SECURITIES(HONG
8,732,233 B share 8,732,233
KONG) LIMITED
FIDELITY PURITAN TRUST: FIDELITY SERIES
6,350,762 B share 6,350,762
INTRINSIC OPPORTUNITIES FUND
GUOTAI JUNAN SECURITIES(HONGKONG)
5,207,553 B share 5,207,553
LIMITED
CENTRAL HUIJIN ASSET MANAGEMENT LTD. 4,761,200 A share 4,761,200
VANGUARD EMERGING MARKETS STOCK
3,788,487 B share 3,788,487
INDEX FUND
FIDELITY CHINA SPECIAL SITUATIONS PLC 3,779,202 B share 3,779,202
Among the top 10 shareholders, Yantai Changyu Group
The explanation for the associated
Company Limited has no associated relationship or accordant
relationship and accordant action
action relationship with the other 9 listed shareholders, and the
of the top 10 shareholders
relationship among the other shareholders is unknown.
Explanation for the top 10
shareholders who involved in
No
financing activities and stock
trading business(if any)
Whether or not the Company’s top 10 common shareholders and top 10 common shareholders with
unrestricted shares conduct agreed buy-back transaction during the report period
□ Yes √ No
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
There are no top 10 common shareholders or top 10 common shareholders with unrestricted shares
in the Company conduct agreed buy-back transaction during the report period.
2) The total number of preferred shareholders and the shareholding of top 10 preferred
shareholders
□Available √Not available
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
III Major Issue
1. Situation and reasons on changes in main financial data and financial index during the
report pe riod
√Available □Not available
Compared the end of the report period with the beginning of the year, Notes Receivable decreases
by 100%, mainly due to adjustment to Receivables Financing resulting from change in accounting
policy; Accounts Receivable decreases by 18.12%, mainly due to the reduce in credit sale resulting
from the reduce in the direct supply business of sales business; Interest Receivable increases by
107.65%, mainly due to the received one-off interest resulting from the expiration of fixed deposit;
Accounts Payable decreases by 20.34%, mainly owing to the payment of previous debt; Advances
From Customers decreases by 29.42%, mainly owing to the reduce in accumulated Advances From
Customers resulting from the improvement in the Company’s production efficiency and the
shortening of supply period after receiving the payment; Interest Payable increases by 389.91%,
mainly owing that the Company’s overseas enterprise need to pay the expired loan interest all at
once; Deferred Tax Liabilities decreases by 25.15%, mainly owing to the amortization of assets
appraisal appreciation resulting from the business combination not under common control.
Compared the first three quarters in 2019 with the same period in last year, F inancial Expenses and
Interest Expenses respectively decreases by 29.91% and 29.42%, mainly owing to obtainment of
forestry loan with discounted interest this year; Non-operating Income increases by 30.57%, mainly
owing to the increased waste income including offcut sales etc.
Compared the third quarter in 2019 with the same period in last year, F inancial Expenses decreases
by 26.68%, mainly owing to the increase in Interest Income; Interest Income increases by 187.05%,
mainly owing to the increase in fixed deposit and call deposit; Other Income decreases by 83.38%,
mainly owing to the year-on-year decrease in received government grants; Loss for Impairment of
Assets increases by 739.26%, mainly owing to the loss on inventory valuation.
2. Analysis explanation of the major issue’s progress as well as its influence and solution
□Available √Not available
Implementation progress of share repurchases
□Available √Not available
Implementation progress of reducing repurchased shares by the way of centralized competitive
bidding
□Available √Not available
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
3. The commitme nts that the Company’s actual controlle rs, shareholders, related parties,
purchasers, the Company and other related parties do not imple ment completely exceeding
the time limit within the report period
√Available □Not available
Commitment Commitment Commitment Commitment Commitment
Commitments Implementation
Party Type content time period
Commitments at
shareholding - －
reform
Commitments
made in
acquisition - - - -
report or equity
changes report
Commitments at
asset - - - -
restructuring
Yantai Solve
Changyu horizontal
Non-horizontal Has been
Group Co., competition 1997.05.18 Permanent
competition performing
Ltd.
Clear the According to
purpose of Trademark
brand royalty According to License Contract,
Trademark the trademark use
fee annually
License
charged by Yantai
Contract, the Changyu Group
trademark use fee
Commitments at Co., Ltd. shall be
annually paid by
the initial public mainly used to
this company to publicize
offering or Yantai Yantai Changyu trademarks
refinancing Changyu Group Co., Ltd. including
Group Co., will be mainly 1997.05.18 Permanent Chagnyu and
Ltd. used by Yantai contractual
Changyu Group products. Except
Co., Ltd. to 2013 to 2017
publicize during which the
trademarks commitment was
including not strictly
Chagnyu and performed, Yantai
contractual Changyu Group
products. Co., Ltd. has been
performing the
commitment.
Equity incentive
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
commitments
Commitments
made to the
minority - - - -
shareholders of
the Company
Commitment
under timely
No
implementation
or not
According to the Trademark License Contract (hereafter referred to as “the Contract”), Changyu
Group promises that the trademark use fee annually paid by this Company to Changyu Group shall be
mainly used by Changyu Group to publicize trademarks and contractual products. But above-
mentioned ‘mainly’ is not a specific number, which is easy to cause divergence due to different
understanding and leads to problem appearance during the implementation process.
From 2013 to 2017, Changyu Group collected the total trademark use fee of CNY420,883,902, of
which 51% should be used to publicize trademarks including Changyu and contract products with the
Detailed
amount of CNY214,650,790. The amount has been used to publicize trademarks including Changyu
explanation for
and contract products is CNY50,025,181, with a balance of CNY164,625,609. In 2018 and 2019, the
specific reasons of
collected trademark use fee for 2017 and 2018 is CNY155,623,907, of which 51% should be used to
unimplemented
publicize trademarks including Changyu and contract products with the amount of CNY79,368,193.
commitment as
The amount has been used to publicize trademarks including Changyu and contract products is
well as next work
CNY12,225,187, with a balance of CNY67,143,006.
plan if
From 2013 to December 31st , 2018, the accumulated balance that should be used by Changyu Group
commitment is
to publicize trademarks including Changyu and contract products is CNY231,768,615.
not completed in
Changyu Group promises that the four-year trademark use fee from 2019 to 2022 will be used for
the commitment
offset. If insufficient, the shortfall would be filled in one time in 2023. If there is any excess, the
period
excess portion of the trademark use fee would be collected from the year with excess occurrence.
If Changyu Group is not able to implement above-mentioned commitment owing to various reasons,
this Company will timely supervise and urge Changyu Group to fulfill its commitment and request
Changyu Group to raise funds through bank loaning, assets sales and equity sales etc in order to
implement the commitment.
For other details, please refer to Announcement on Commitment Issues of Yantai Changyu Group
Company Limited disclosed by this Company on April 4th , 2019.
4. The situation of security investment
□Available √ Not available
There is no security investment during the report period.
5. Entrusted financial manage ment
□Available √ Not available
There is no entrusted financial management during the report period.
6. The situation of derivative investment
□Available √ Not available
There is no derivative investment during the report period.
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2019 the Third Quarter Report M ain Body of Yantai Changyu Pioneer Wine Co., Ltd.
7. The activity registration form of receptions, communication and interview etc. during the
report pe riod
√ Available □Not available
Type of reception Basic information index of
Reception Time Reception mode investigation and survey
object
Investor Relations Activity
Registration Form on
2019.09.06 Other Individual
September 6th , 2019 disclosed
by the Company
8. The situation of illegal external guarantee
□Available √ Not available
There is no illegal external guarantee during the report period.
9. The situation of non-operating fund occupation of controlling s hareholders and related
parties
□Available √ Not available
There is no non-operating fund occupation of controlling shareholders and related parties during the
report period.
Yantai Changyu Pioneer Wine Co., Ltd.
Board of Directors
October28th , 2019
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