Q1 2024 Report of Luzhou Laojiao Co., Ltd.
Stock Code: 000568 Stock abbreviation: Luzhou Laojiao Announcement No. 2024-17
Luzhou Laojiao Co., Ltd.
Q1 2024 Report
Luzhou Laojiao Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the
Company’s Board of Directors hereby guarantee that the contents of this Report are true, accurate
and complete and free of any misrepresentations, misleading statements or material omissions.
Important Statements:
1. The Board of Directors, Board of Supervisors, directors, supervisors and senior management
guarantee that the information presented in this report is free of any false records, misleading
statements or material omissions, and shall individually and together be legally liable for truthfulness,
accuracy and completeness of its contents.
2. The responsible person for the Company, the responsible person for accounting work and the
responsible person for the Company’s financial affairs (Accounting Supervisor) have warranted that
the financial statements in this report are true, accurate and complete.
3. Whether the financial statements of this report have been audited by an auditor
□Yes No
This report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
1. Key financial information
1.1 Key accounting data and financial indicators
Whether the Company performed a retroactive adjustment to or restatement of accounting data.
□Yes No
Q1 2024 Q1 2023 YoY change (%)
Operating revenues (CNY) 9,188,402,377.79 7,610,153,819.27 20.74%
Net profits attributable to
shareholders of the 4,573,950,129.90 3,712,618,630.92 23.20%
Company (CNY)
Net profits attributable to
shareholders of the
Company before non- 4,552,423,532.38 3,688,940,523.35 23.41%
recurring gains and losses
(CNY)
Net cash flows from
4,359,428,564.46 1,508,783,232.53 188.94%
operating activities (CNY)
Basic earnings per share
3.12 2.53 23.32%
(CNY/share)
Diluted earnings per share
3.12 2.53 23.32%
(CNY/share)
Weighted average ROE 10.43% 10.30% 0.13%
31 March 2024 31 December 2023 Change (%)
Total assets (CNY) 68,625,774,236.07 63,294,455,201.60 8.42%
Net assets attributable to
shareholders of the 46,230,637,475.21 41,391,410,494.89 11.69%
Company (CNY)
1.2 Non-recurring gains and losses
Applicable □ N/A
Unit: CNY
Item Q1 2024 Note
Government grants recognised in
profit or loss (exclusive of those that
are closely related to the Company's
normal business operations and
given in accordance with defined 5,509,692.79
criteria and in compliance with
government policies, and have a
continuing impact on the Company's
profit or loss)
Gain or loss on fair-value changes in
financial assets and liabilities held by
a non-financial enterprise, as well as
on disposal of financial assets and
18,413,458.10
liabilities (exclusive of the effective
portion of hedges that is related to
the Company's normal business
operations)
Other non-operating income and
expenditure except above-mentioned 4,797,550.61
items
Less: Corporate income tax 7,131,378.07
Minority interests (after tax) 62,725.91
Total 21,526,597.52 --
Other items that meet the definition of non-recurring gain/loss:
□Applicable N/A
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
No such cases for the reporting period.
Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities
to the Public-Non-Recurring Gains and Losses as a recurring gain/loss item.
□Applicable N/A
No such cases for the reporting period.
1.3 Changes in key financial data and indicators and reasons for the changes
Applicable N/A
A. The closing balance of prepayment increased by CNY 77,475,068.78 compared to the opening
balance, indicating an increase of 38.30%. It was mainly due to the increased prepayment to suppliers
as a result of more product promotions.
B. The closing balance of other current assets decreased by CNY 85,714,794.74 compared to the
opening balance, indicating a decrease of 48.51%. It was mainly due to the offsetting in the current
period of the overpaid tax in the prior period.
C. The closing balance of construction in progress decreased by CNY 1,226,827,228.78 compared to
the opening balance, indicating a decrease of 71.39%. It was mainly due to the transfer of construction
in progress that became ready for its intended use to fixed assets.
D. The closing balance of deferred tax assets decreased by CNY 206,842,908.10 compared to the
opening balance, indicating a decrease of 30.67%. It was mainly due to the decreased unrealized
profits of internal transactions and the relevant reversal in the first unlocking period of the restricted
share incentive plan.
E. The closing balance of employee benefits payable decreased by CNY 208,591,469.23 compared to
the opening balance, indicating a decrease of 39.82%. It was mainly due to the settlement in the current
period of performance-based pay for last year.
F. The closing balance of non-current liabilities due within one year increased by CNY
1,464,196,674.97 compared to the opening balance, indicating an increase of 1855.34%. It was mainly
due to the reclassification of bonds payable due within one year.
G. The closing balance of treasury stock decreased by CNY 233,103,448.24 compared to the opening
balance, indicating a decrease of 37.80%. It was mainly due to the relevant reversal in the first
unlocking period of the restricted share incentive plan in the current period.
H. The closing balance of other comprehensive income decreased by CNY 19,096,034.51 compared to
the opening balance, indicating a decrease of 30.25%. It was mainly due to the decreased fair value of
equity investments in the current period.
I. Financial expenses in the current period decreased by CNY 29,142,448.51 compared to the same
period of last year. It was mainly due to the increased interest income in the current period.
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
J. Investment income in the current period decreased by CNY 40,028,178.22 compared to the same
period of last year, indicating a decrease of 68.30%. It was mainly due to the decreased earnings of
investee Huaxi Securities.
K. Net cash flows from operating activities in the current period increased by CNY 2,850,645,331.93
compared to the same period of last year, indicating an increase of 188.94%. It was mainly due to the
increased cash received from sale of goods and the decreased cash paid for goods purchased and
services received in the current period.
L. Net cash flows from investing activities in the current period increased by CNY 98,599,536.50
compared to the same period of last year. It was mainly due to the increased net cash flows from the
purchase and redemption of wealth management products (collective asset management plans) from
securities firms in the current period.
M. Net cash flows from financing activities in the current period decreased by CNY 3,918,505,260.73
compared to the same period of last year, indicating a decrease of 68.12%. It was mainly due to the
receipt of less bank loan in the current period compared to the same period of last year.
2. Shareholder information
2.1 Total numbers of common shareholders and preference shareholders with resumed voting
rights as well as shareholdings of top 10 shareholders
Unit: Share
Total number of common Total number of preference shareholders with
shareholders at the end of the 118,425 resumed voting rights at the end of the reporting 0
reporting period period (if any)
Shareholdings of the top 10 shareholders (exclusive of shares lent in refinancing)
Number of Pledged, marked or frozen
Name of Nature of Shareholding Total shares holding shares
shareholder shareholder percentage held restricted Status of Number of
shares shares shares
Luzhou
State-owned
Laojiao Group 25.89% 381,088,389.00 0.00 N/A 0.00
corporation
Co., Ltd.
Luzhou
XingLu
State-owned
Investment 24.86% 365,971,142.00 0.00 N/A 0.00
corporation
Group Co.,
Ltd.
Hong Kong
Securities
Outbound
Clearing 3.34% 49,090,871.00 0.00 N/A 0.00
corporation
Company
Limited
Bank of China
Co., Ltd. –
Baijiu index
classification
securities Other 2.67% 39,287,696.00 0.00 N/A 0.00
investment
fund by China
Merchants
Fund
China
Securities
Other 2.30% 33,842,059.00 0.00 N/A 0.00
Finance
Corporation
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
Limited
Bank of China
Co., Ltd.－
Blue chip
selected
hybrid Other 1.46% 21,470,000.00 0.00 N/A 0.00
securities
investment
fund by E
Fund
Industrial and
Commercial
Bank of China
Co., Ltd.-
Newly growth
hybrid Other 0.92% 13,598,087.00 0.00 N/A 0.00
securities
investment
fund by
Invesco Great
Wall
Central Huijin
Asset State-owned
0.92% 13,539,862.00 0.00 N/A 0.00
Management corporation
Co., Ltd.
China Life
Insurance
Company
Limited-
Tradition- Other 0.66% 9,670,232.00 0.00 N/A 0.00
common
insurance
product-005L
－CT001 Hu
Agricultural
Bank of China
Co., Ltd. -
Consumption
industry stock
Other 0.58% 8,507,232.00 0.00 N/A 0.00
- based
securities
investment
fund by E
Fund
Shareholdings of the top 10 non-restricted shareholders
Type of shares
Name of shareholder Number of non-restricted shares held
Type Number
CNY common 381,088,389.0
Luzhou Laojiao Group Co., Ltd. 381,088,389.00
shares 0
Luzhou XingLu Investment CNY common 365,971,142.0
365,971,142.00
Group Co., Ltd. shares 0
Hong Kong Securities Clearing CNY common
49,090,871.00 49,090,871.00
Company Limited shares
Bank of China Co., Ltd. – Baijiu
index classification securities CNY common
39,287,696.00 39,287,696.00
investment fund by China shares
Merchants Fund
China Securities Finance CNY common
33,842,059.00 33,842,059.00
Corporation Limited shares
Bank of China Co., Ltd.－Blue
CNY common
chip selected hybrid securities 21,470,000.00 21,470,000.00
shares
investment fund by E Fund
Industrial and Commercial
CNY common
Bank of China Co., Ltd.-Newly 13,598,087.00 13,598,087.00
shares
growth hybrid securities
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
investment fund by Invesco
Great Wall
Central Huijin Asset CNY common
13,539,862.00 13,539,862.00
Management Co., Ltd. shares
China Life Insurance Company
Limited-Tradition-common CNY common
9,670,232.00 9,670,232.00
insurance product-005L－ shares
CT001 Hu
Agricultural Bank of China Co.,
Ltd. - Consumption industry CNY common
8,507,232.00 8,507,232.00
stock - based securities shares
investment fund by E Fund
1. Luzhou Laojiao Group Co., Ltd. and Luzhou XingLu Investment
Group Co., Ltd. are both holding state-owned companies under
the jurisdiction of SASAC of Luzhou. The two companies signed
the agreement of persons acting in concert on 31 December
2015. For details, please refer to the announcement of the
Company on 5 January 2016 - Announcement on the agreement
of persons acting in concert signed by shareholders. The
announcement number is 2016-1 (http://www.cninfo.com.cn/). The
Related parties or acting-in-concert two companies signed the renewed agreement of persons acting
in concert on 27 May 2021. For details, please refer to the
announcement of the Company on 29 May 2021 - Announcement
on the renewed agreement of persons acting in concert signed by
shareholders. The announcement number is 2021-18
(http://www.cninfo.com.cn/).
2. In addition, whether there is an association between the
remaining shareholders or they belong to persons acting in
concert is unknown.
Top 10 shareholders participating in securities
N/A
margin trading (if any)
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in
refinancing shares lending
□Applicable N/A
Unit: Share
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares
lending
Shares in the common Shares lent in Shares in the common Shares lent in
account and credit refinancing and not yet account and credit refinancing and not yet
Full name
account at the period- returned at the period- account at the period- returned at the period-
of
begin begin end end
sharehold
As % of As % of As % of As % of
er Total Total Total Total
total share total share total share total share
shares shares shares shares
capital capital capital capital
Bank of
China Co.,
Ltd. –
Baijiu
index
classificati
43,016,97 39,287,69
on 2.92% 55,000.00 0.00% 2.67% 0.00 0.00%
9.00 6.00
securities
investmen
t fund by
China
Merchants
Fund
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares
lending/return compared with the prior period
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
□Applicable N/A
2.2 Total number of preferred shareholders and shareholdings of the top 10 preferred
shareholders
□Applicable N/A
3. Other significant events
Applicable □ N/A
A. On 23 January 2024, the Company held the 38th Meeting of the 10th Board of Directors and the
20th Meeting of the 10th Board of Supervisors, at which the Proposal on the Repurchase and
Retirement of Certain Restricted Shares and the Adjustment of Repurchase Price and the Proposal
on the Satisfaction of Unlocking Conditions for the First Unlocking Period of the 2021 Restricted
Share Incentive Plan were reviewed and approved respectively. In accordance with the relevant
provisions of the incentive plan of the Company and the authorization of the First Extraordinary
General Meeting of Shareholders of 2021, the Board of Directors of the Company agreed to adjust
the grant price and repurchase price of the reserved restricted shares under the incentive plan from
CNY 89.466 per share to CNY 85.241 per share in view of the implementation of the Company's profit
distribution plan for 2022. Meanwhile, as the unlocking conditions had been satisfied for the first
unlocking period of the 2021 Restricted Share Incentive Plan, a total of 2,734,640 restricted shares
held by 435 eligible awardees were unlocked for public trading on 22 February 2024.
B. The Company invested in the technical upgrade program of intelligent brewing (Phase I) with the
wholly-owned subsidiary, Luzhou Laojiao Brewing Co., Ltd., as the implementer. The total investment
amount approximated CNY 4,782.5090 million. For further information, see Announcement No. 2022-
24 on the Implementation of Luzhou Laojiao’s Technical Upgrade Program of Intelligent Brewing
(Phase I) by Subsidiary. The program is currently under construction.
4. Financial statements
4.1 Financial statements
4.1.1 Consolidated balance sheet
Prepared by: Luzhou Laojiao Co., Ltd.
Unit: CNY
Item 31 March 2024 31 December 2023
Current assets:
Cash and cash equivalents 32,136,543,172.14 25,952,025,091.28
Settlement reserves
Lending funds
Held-for-trading financial assets 1,283,685,143.48 1,426,992,098.83
Derivative financial assets
Notes receivables
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
Accounts receivables 12,002,086.85 17,461,378.98
Accounts receivables financing 5,340,069,606.45 5,938,171,007.93
Prepayment 279,784,255.48 202,309,186.70
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve
Other receivables 23,436,341.61 22,716,893.12
Including：Interests receivable
Dividends receivable
Buying back the sale of financial
assets
Inventories 11,826,979,701.00 11,622,043,947.46
Including: Data resource
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 90,969,937.23 176,684,731.97
Total current assets 50,993,470,244.24 45,358,404,336.27
Non-current assets:
Disbursement of loans and advances
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 2,735,747,753.90 2,708,254,833.50
Investments in other equity
380,146,500.05 402,893,468.80
instruments
Other non-current financial assets
Investment property 37,444,407.41 37,785,416.77
Fixed assets 9,726,243,826.32 8,613,223,465.46
Construction in progress 491,641,651.75 1,718,468,880.53
Productive biological assets
Oil and gas assets
Use right assets 33,203,550.65 23,260,955.23
Intangible assets 3,400,980,661.48 3,397,873,791.08
Including: Data resource
Development expenses
Including: Data resource
Goodwill
Long-term deferred expenses 826,302.51 960,005.91
Deferred tax assets 467,586,709.82 674,429,617.92
Other non-current assets 358,482,627.94 358,900,430.13
Total non-current assets 17,632,303,991.83 17,936,050,865.33
Total assets 68,625,774,236.07 63,294,455,201.60
Current liabilities:
Short-term loans
Borrowings from the central bank
Loans from other banks
Held-for-trading financial liabilities 70,204.81 9,763.87
Derivative financial liabilities
Notes payable
Accounts payable 2,256,892,679.03 2,357,223,733.21
Advance from customer
Contract liabilities 2,534,857,788.92 2,672,977,090.30
Financial assets sold for repurchase
Deposits from customers and inter-
bank
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
Customer brokerage deposits
Securities underwriting brokerage
deposits
Employee benefits payable 315,275,242.18 523,866,711.41
Taxes payable 2,200,240,887.24 2,939,627,533.00
Other payable 897,050,396.10 1,150,721,162.53
Including：Interests payable
Dividends payable 29,684,819.82
Handling charges and commissions
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
1,543,114,827.38 78,918,152.41
year
Other current liabilities 329,169,207.59 347,485,071.57
Total current liabilities 10,076,671,233.25 10,070,829,218.30
Non-current liabilities:
Insurance contract reserves
Long-term loans 11,990,200,000.00 10,000,300,000.00
Bonds payable 1,498,716,737.02
Including：Preference shares
Perpetual bonds
Lease liabilities 30,191,987.53 22,356,404.47
Long-term payables
Long-term payroll payables
Accrued liabilities
Deferred income 25,153,241.10 27,772,083.74
Deferred tax liabilities 132,374,510.44 142,773,028.22
Other non-current liabilities
Total non-current liabilities 12,177,919,739.07 11,691,918,253.45
Total liabilities 22,254,590,972.32 21,762,747,471.75
Owners' equity
Share capital 1,471,987,769.00 1,471,987,769.00
Other equity instruments
Including: preference shares
Perpetual bonds
Capital reserves 5,236,750,959.91 5,185,481,523.22
Less: treasury stock 383,640,162.35 616,743,610.59
Other comprehensive income 44,034,435.00 63,130,469.51
Special reserves
Surplus reserves 1,471,987,769.00 1,471,987,769.00
General risk reserve
Undistributed profits 38,389,516,704.65 33,815,566,574.75
Total equity attributable to owners of
46,230,637,475.21 41,391,410,494.89
the parent company
Non-controlling interests 140,545,788.54 140,297,234.96
Total owners' equity 46,371,183,263.75 41,531,707,729.85
Total liabilities and owners' equity 68,625,774,236.07 63,294,455,201.60
Legal representative：Liu Miao
Person in charge of accounting affairs：Xie Hong
Person in charge of accounting department：Song Ying
4.1.2 Consolidated income statement
Unit: CNY
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
Item Q1 2024 Q1 2023
1. Total operating revenue 9,188,402,377.79 7,610,153,819.27
Including: Operating revenue 9,188,402,377.79 7,610,153,819.27
Interest income
Earned premium
Fee and commission
income
2. Total operating costs 3,126,339,967.34 2,770,392,001.49
Including: Cost of sales 1,068,393,034.10 906,489,329.36
Interest expense
Handling charges and
commission expenses
Refunded premiums
Net payments for
insurance claims
Net provision for
insurance contracts
Bond insurance expense
Reinsurance Expenses
Taxes and surcharges 1,143,231,107.37 934,103,786.18
Selling and distribution
720,930,095.03 691,058,449.80
expenses
General and administrative
228,669,867.50 249,290,819.83
expenses
Research and Development
30,290,921.53 25,482,226.00
expenses
Financial expenses -65,175,058.19 -36,032,609.68
Including：Interest expenses 150,321,893.20 125,103,651.63
Interest income 216,342,852.29 163,408,426.49
Plus: Other income 8,033,544.51 6,947,563.04
Investment income ("-" for losses) 18,575,635.03 58,603,813.25
Including: income from
investment in associates and joint 22,958,991.23 54,967,950.44
ventures
Income from the
derecognition of financial assets
measured at amortized cost
Foreign exchange gains ("-"
for losses)
Net gain on exposure hedges
(“-” for losses)
Gains from the changes in fair
22,796,828.52 20,126,830.02
values(“-“ for losses)
Credit impairment losses (“-”
386,569.13 506,094.24
for losses)
Impairment losses(“-“ for
losses)
Gains from disposal of
-623,989.76
assets("-" for losses)
3. Operating profits ("-" for losses) 6,111,854,987.64 4,925,322,128.57
Plus: non-operating income 5,625,187.06 5,024,545.38
Less: non-operating expenses 827,636.45 170,523.97
4. Total profits before tax ("-" for
total losses) 6,116,652,538.25 4,930,176,149.98
Less: income tax expenses 1,538,281,406.31 1,208,293,895.10
5. Net profit ("-" for net loss) 4,578,371,131.94 3,721,882,254.88
5.1 By operating continuity
5.1.1 Net profit from continuing
4,578,371,131.94 3,721,882,254.88
operation ("-" for losses)
5.1.2 Net profit from discontinued
operation ("-" for losses)
5.2 By ownership
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
1) Attributable to owners of the
4,573,950,129.90 3,712,618,630.92
parent company
2) Attributable to non-controlling
4,421,002.04 9,263,623.96
interests
6. Net of tax from other
comprehensive income -18,978,063.93 -113,249,020.72
Net of tax from other comprehensive
income to the owner of the parent -19,096,034.51 -112,841,779.49
company
6.1 Other comprehensive income
cannot reclassified into the profit and -17,060,226.55 -115,179,464.55
loss:
1) Remeasure the variation of net
indebtedness or net asset of defined
benefit plans
2) Share in other comprehensive
income that cannot be classified into
profit and loss under equity method
3) Changes in fair value of
investments in other equity -17,060,226.55 -115,179,464.55
instruments
4) Changes in fair value of the
company’s credit risks
5) Other
6.2 Other comprehensive income
that will be reclassified into the profit -2,035,807.96 2,337,685.06
and loss
1) Share in other comprehensive
income that will be classified into -2,180,946.52 2,835,340.65
profit and loss under equity method
2) Changes in fair value of
investments in other debt obligations
3) Other comprehensive income
arising from the reclassification of
financial assets
4) Allowance for credit impairments in
investments in other debt obligations
5) Reserve for cash-flow hedge
6) Balance arising from the
translation of foreign currency 145,138.56 -497,655.59
financial statements
7) Others
Net of tax from other comprehensive
117,970.58 -407,241.23
income to non-controlling interests
7. Total comprehensive income 4,559,393,068.01 3,608,633,234.16
Total comprehensive income
attributable to owners of the parent 4,554,854,095.39 3,599,776,851.43
company
Total comprehensive income
attributable to non-controlling 4,538,972.62 8,856,382.73
interests
8. Earnings per share
(1) Basic earnings per share 3.12 2.53
(2) Diluted earnings per share 3.12 2.53
Legal representative：Liu Miao
Person in charge of accounting affairs：Xie Hong
Person in charge of accounting department：Song Ying
4.1.3 Consolidated statement of cash flows
Unit: CNY
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
Item Q1 2024 Q1 2023
1. Cash flows from operating
activities
Cash received from sale of goods
10,640,663,886.35 8,042,310,196.53
and rendering of services
Net increase in customer bank
deposits and placement from banks
and other financial institutions
Net increase in loans from central
bank
Net increase in loans from other
financial institutions
Premiums received from original
insurance contracts
Net cash received from reinsurance
business
Net increase in deposits and
investments from policyholders
Cash received from interest, handling
charges and commissions
Net increase in placements from
other financial institutions
Net capital increase in repurchase
business
Net cash received from customer
brokerage deposits
Refunds of taxes and surcharges 268,904.22
Cash received from other operating
262,649,960.08 203,610,173.93
activities
Subtotal of cash inflows from
operating activities 10,903,313,846.43 8,246,189,274.68
Cash paid for goods purchased and
991,589,339.08 1,302,008,639.40
services received
Net increase in loans and advances
to customers
Net increase in deposits in central
bank and other banks and financial
institutions
Cash paid for original insurance
contract claims
Net increase in lending funds
Cash paid for interests, handling
charges and commissions
Cash paid for policy dividends
Cash paid to and on behalf of
535,931,858.37 528,119,794.54
employees
Cash paid for taxes and surcharges 4,169,663,653.49 4,178,376,070.71
Cash paid for other operating
846,700,431.03 728,901,537.50
activities
Subtotal of cash outflows from
operating activities 6,543,885,281.97 6,737,406,042.15
Net cash flows from operating
activities 4,359,428,564.46 1,508,783,232.53
2. Cash flows from investing
activities
Cash received from disposal of
802,249,587.02 100,105,333.72
investments
Cash received from returns on
19,500,169.98 2,391,009.80
investments
Net cash received from disposal of
fixed assets, intangible assets and
other long-term assets
Net cash received from disposal of
subsidiaries and other business units
Cash received from other investing
12
Q1 2024 Report of Luzhou Laojiao Co., Ltd.
activities
Subtotal of cash inflows from
investing activities 821,749,757.00 102,496,343.52
Cash paid to acquire and construct
fixed assets, intangible assets and 172,070,960.03 223,117,083.05
other long-term assets
Cash paid for investments 671,700,000.00
Net increase in pledge loans
Net cash paid to acquire subsidiaries
and other business units
Cash paid for other investing
activities
Subtotal of cash outflows from
investing activities 843,770,960.03 223,117,083.05
Net cash flows from investing
activities -22,021,203.03 -120,620,739.53
3. Cash flows from financing
activities
Cash received from investors 79,604.28 8,290,725.74
Including: cash received by
subsidiaries from investments by 79,604.28
minority shareholders
Cash received from borrowings 2,000,000,000.00 5,850,000,000.00
Cash received from other financing
activities
Subtotal of cash inflows from
financing activities 2,000,079,604.28 5,858,290,725.74
Cash paid for debt repayments 10,100,000.00 10,000,000.00
Cash paid for distribution of
dividends and profits or payment of 147,009,569.27 95,688,541.67
interest
Including: dividends and profits paid
to minority shareholders by 29,684,819.82
subsidiaries
Cash paid for other financing
8,938,151.67 65,040.00
activities
Subtotal of cash outflows from
financing activities 166,047,720.94 105,753,581.67
Net cash flows from financing
activities 1,834,031,883.34 5,752,537,144.07
4. Effect of fluctuation in exchange
rate on cash and cash equivalents 69,769.10 -3,053,249.05
5. Net increase in cash and cash
equivalents 6,171,509,013.87 7,137,646,388.02
Plus: balance of cash and cash
equivalents at the beginning of the 25,893,029,277.86 17,729,006,591.87
period
6. Balance of cash and cash
equivalents at the end of the 32,064,538,291.73 24,866,652,979.89
period
4.2 Adjustments to Financial Statement Items at the Beginning of the Year of the First
Implementation of the New Accounting Standards Implemented since 2024
□Applicable N/A
4.3 Auditor’s report
Whether the financial statements of this report have been audited by an auditor
□Yes No
The said financial statements are unaudited by an auditor.
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Q1 2024 Report of Luzhou Laojiao Co., Ltd.
The Board of Directors of Luzhou Laojiao Co., Ltd.
27 April 2024
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