Q1 2022 Report of Luzhou Laojiao Co., Ltd.
Stock Code: 000568 Stock abbreviation: Luzhou Laojiao Announcement No. 2022-8
Luzhou Laojiao Co., Ltd.
Q1 2022 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.
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 2022 Q1 2021 YoY change
Operating revenues (CNY) 6,311,964,675.84 5,003,680,377.12 26.15%
Net profits attributable to shareholders
2,875,658,916.19 2,166,766,179.07 32.72%
of the Company (CNY)
Net profits attributable to shareholders
of the Company before non-recurring 2,864,799,362.69 2,158,046,960.66 32.75%
gains and losses (CNY)
Net cash flows from operating activities
1,131,497,885.76 1,310,035,683.78 -13.63%
(CNY)
Basic earnings per share (CNY/share) 1.96 1.48 32.43%
Diluted earnings per share (CNY/share) 1.96 1.48 32.43%
Weighted average ROE 9.76% 8.97% 0.79%
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
31 March 2022 31 December 2021 Change
Total assets (CNY) 43,063,821,253.41 43,211,782,005.68 -0.34%
Net assets attributable to shareholders
30,961,725,129.35 28,040,247,005.94 10.42%
of the Company (CNY)
1.2 Non-recurring gains and losses
√ Applicable N/A
Unit: CNY
Item Q1 2022 Note
Government grants accounted for, in the profit or loss for the
current period (except for the government grants closely
related to the business of the Company and continually 4,418,513.06
given at a fixed amount or quantity in accordance with the
national policies and standards)
Gain or loss on fair-value changes on held-for-trading
financial assets and liabilities & income from disposal of
held-for-trading financial assets and liabilities and
6,196,591.56
available-for-sale financial assets (exclusive of the effective
portion of hedges that arise in the Company’s ordinary
course of business)
Other non-operating income and expenditure except
3,782,916.82
above-mentioned items
Less: Corporate income tax 3,428,608.22
Minority interests (after tax) 109,859.72
Total 10,859,553.50 --
Other items that meet the definition of non-recurring gain/loss:
Applicable √ N/A
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 accounts receivables financing decreased by CNY 2,115,942,950.09
compared to the opening balance, indicating a decrease of 44.47%. It was mainly due to the discounted
notes and the payments for notes that became due in the current period.
B. The closing balance of contract liabilities decreased by CNY 1,747,160,118.18 compared to the
opening balance, indicating a decrease of 49.78%; and the closing balance of other current liabilities
decreased by CNY 227,130,815.38 compared to the opening balance, indicating a decrease of 49.78%.
It was mainly due to the decreased advances from customers in the current period.
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
C. The closing balance of employee benefits payable decreased by CNY 262,938,903.57 compared to
the opening balance, indicating a decrease of 40.57%. It was mainly due to the settlement in the current
period of performance-based pay for last year.
D. The closing balance of taxes payable decreased by CNY 1,176,693,464.03 compared to the opening
balance, indicating a decrease of 37.08%. It was mainly due to the payment in the current period of
taxes payable as at the end of last year.
E. The closing balance of other payable increased by CNY 530,299,889.07 compared to the opening
balance, indicating an increase of 81.29%. It was mainly due to the liabilities recognized on repurchase
obligations under the restricted share incentive plan.
F. General and administrative expenses in the current period increased by CNY 78,644,928.81
compared to the same period of last year, indicating an increase of 39.80%. It was mainly due to the
increased costs and expenses on the restricted share incentive plan.
G. Research and development expenses in the current period increased by CNY 14,922,603.16
compared to the same period of last year, indicating an increase of 105.75%. It was mainly due to the
increased comprehensive research and development investments in the current period.
H. Investment income in the current period decreased by CNY 49,707,942.57 compared to the same
period of last year, indicating a decrease of 111.03%. It was mainly due to the loss recorded by investee
Huaxi Securities in the current period.
I. Total profits before tax in the current period increased by CNY 997,244,005.80 compared to the same
period of last year, indicating an increase of 34.59%; income tax expenses in the current period
increased by CNY 285,860,857.19 compared to the same period of last year, indicating an increase of
40.65%; and net profit in the current period increased by CNY 711,383,148.61 compared to the same
period of last year, indicating an increase of 32.63%. It was mainly due to the increased sales revenue
from baijiu and the correspondingly increased profit in the current period.
J. Net cash flows from financing activities in the current period increased by CNY 628,623,603.28
compared to the same period of last year, indicating an increase of 1348.51%. It was mainly due to the
receipt of payments from the awardees under the restricted share incentive plan for subscription for such
shares in the current period.
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 preference
Total number of common
shareholders with resumed
shareholders at the end of the 140,711 0
voting rights at the end of
reporting period
the reporting period (if any)
Shareholdings of the top 10 shareholders
Name of Nature of Shareholding Total shares Number of Pledged, marked or frozen
shareholder shareholder percentage held holding shares
3
Q1 2022 Report of Luzhou Laojiao Co., Ltd.
restricted Number of
shares Status of shares
shares
Luzhou Laojiao State-owned
25.90% 381,088,389 0
Group Co., Ltd. corporation
Luzhou XingLu
State-owned
Investment 24.87% 365,971,142 0
corporation
Group Co., Ltd.
Bank of China
Co., Ltd. – Baijiu
index
classification
Other 3.66% 53,818,210 0
securities
investment fund
by China
Merchants Fund
Hong Kong
Securities
Outbound
Clearing 2.46% 36,135,009 0
corporation
Company
Limited
China Securities
Finance
Other 2.30% 33,842,059 0
Corporation
Limited
Bank of China
Co., Ltd.－Blue
chip selected Other 1.83% 27,000,000 0
hybrid securities
investment fund
by E Fund
Industrial and
Commercial
Bank of China
Co., Ltd.-Newly
growth hybrid Other 1.30% 19,200,000 0
securities
investment fund
by Invesco
Great Wall
Central Huijin
Asset State-owned
0.92% 13,539,862 0
Management corporation
Co., Ltd.
Agricultural
Bank of China
Co., Ltd. -
Consumption
Other 0.72% 10,573,293 0
industry stock -
based securities
investment fund
by E Fund
Bank of China
Co., Ltd.－
Dingyi hybrid
securities Other 0.54% 8,000,000 0
investment fund
by Invesco
Great Wall
(LOF)
Shareholdings of the top 10 non-restricted shareholders
Name of shareholder Number of non-restricted shares held Type of shares
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
Type Number
CNY common
Luzhou Laojiao Group Co., Ltd. 381,088,389 381,088,389
shares
Luzhou XingLu Investment Group CNY common
365,971,142 365,971,142
Co., Ltd. shares
Bank of China Co., Ltd. – Baijiu
index classification securities CNY common
53,818,210 53,818,210
investment fund by China shares
Merchants Fund
Hong Kong Securities Clearing CNY common
36,135,009 36,135,009
Company Limited shares
China Securities Finance CNY common
33,842,059 33,842,059
Corporation Limited shares
Bank of China Co., Ltd.－Blue
CNY common
chip selected hybrid securities 27,000,000 27,000,000
shares
investment fund by E Fund
Industrial and Commercial Bank
of China Co., Ltd.-Newly growth CNY common
19,200,000 19,200,000
hybrid securities investment fund shares
by Invesco Great Wall
Central Huijin Asset Management CNY common
13,539,862 13,539,862
Co., Ltd. shares
Agricultural Bank of China Co.,
Ltd. - Consumption industry stock CNY common
10,573,293 10,573,293
- based securities investment shares
fund by E Fund
Bank of China Co., Ltd.－Dingyi
CNY common
hybrid securities investment fund 8,000,000 8,000,000
shares
by Invesco Great Wall (LOF)
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
Related parties or shareholders. The announcement number is 2016-1 (http://www.cninfo.com.cn/). The
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 margin trading (if N/A
any)
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. The Company’s three savings deposits of CNY 500 million, including ABC Changsha Yingxin Branch
and ICBC Nanyang Zhongzhou Branch are involved in contract disputes. Combined with the assets
preservation situation of the public security authorities and professional legal advice issued by lawyers,
the Company has made a provision of CNY 200 million for bad debts for the deposit of CNY 500 million
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
for contract disputes. As of the end of 2021, a total of CNY 368 million involved in the three savings
contract disputes had been recovered. Taking into account the current amount of assets preserved by
the public security authorities and the professional legal opinion issued by Beijing Weiheng (Chengdu)
Law Firm, the Company adjusted the amount of provision for bad debts and reversed the provision for
bad debts by CNY 80 million, and made a cumulative provision of CNY 120 million for the saving
deposits involved in the contract disputes as of the end of the period.
The second trial of the Company over the deposit dispute with the Company and ABC Changsha Yingxin
Branch and ICBC Nanyang Zhongzhou Branch has been concluded and is currently under court
enforcement. As of the date of disclosure of this report, the Company has recovered a total of CNY
369,640,800 in dispute under three savings contracts.
See details in the Company’s announcements:
Date of announcement No. Catalogue Official website
Announcement of significant http://www.cninfo.com.cn/
15 October 2014 2014-35
litigation
Announcement of significant
12 November 2014 2014-41
litigation progress
Announcement of significant
6 December 2014 2014-43
litigation progress part II
Announcement of significant
10 January 2015 2015-1
events
Announcement of significant
4 February 2015 2015-4
events progress
Announcement of significant
25 March 2015 2015-11
litigation progress part III
Announcement of significant
18 April 2015 2015-20
litigation progress part IV
Announcement of significant
22 April 2015 2015-21
events progress part II
Announcement of significant
24 April 2015 2015-25
litigation progress part V
Announcement of significant
15 July 2015 2015-44
litigation progress part VI
Announcement of significant
22 July 2015 2015-45
litigation progress part VII
Announcement of significant
6 June 2018 2018-17
litigation progress part VIII
Announcement of significant
7 May 2019 2019-11
litigation progress part IX
Announcement of significant
17 May 2019 2019-13
litigation progress part X
Announcement of significant
24 March 2020 2020-6
litigation progress part XI
Announcement of significant
6 May 2020 2020-14
litigation progress part XII
Announcement of significant
7 November 2020 2020-34
litigation progress part XIII
Announcement of significant
6 July 2021 2021-30
litigation progress part XIV
15 December 2021 2021-57 Announcement of significant
litigation progress part XV
30 December 2021 2021-64 Announcement of significant
litigation progress part XVI
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
B. At the 7th Meeting of the 10th Board of Directors of the Company on 26 September 2021, the Proposal
on 2021 Restricted Share Incentive Scheme (Draft) and its Summary of Luzhou Laojiao Co., Ltd.,
Proposal on the Performance Assessment Measures for 2021 Restricted Share Incentive Scheme of
Luzhou Laojiao Co., Ltd. and Proposal on the Management Measures for 2021 Restricted Share
Incentive Scheme of Luzhou Laojiao Co., Ltd. were deliberated and approved. On 29 December 2021,
the Company held the 1st Extraordinary General Meeting of Shareholders of 2021 to deliberate and
approve the above proposals, and on the same day, the Company held the 12 th Meeting of the 10th
Board of Directors to review and approve the Proposal on the Grant of Restricted Shares to Incentive
Targets, which determined to grant 6,928,600 restricted shares to the eligible 441 incentive targets for
the first time at CNY 92.71 per share with 29 December 2021 as the grant date. In the process of
payment of funds after the grant date, four incentive targets voluntarily waived the subscription of all the
restricted shares totaling 66,000 shares to be granted to them for personal reasons. The actual number
of incentive targets who participated in the subscription was 437 and the number of restricted shares
registered for grant was 6,862,600. On 21 February 2022, the Company completed the registration of
the grant of the Restricted Share Incentive Scheme. For details, please refer to the Announcement on
the Completion of Registration of Restricted Share Grant announced by the Company on 21 February
2022 The announcement number is 2022-1 (http://www.cninfo.com.cn/). Upon completion of the grant
registration, the total number of shares of the Company increased from 1,464,752,476 to 1,471,615,076.
4. Financial statements
4.1 Financial statements
4.1.1 Consolidated balance sheet
Prepared by: Luzhou Laojiao Co., Ltd.
Unit: CNY
Item 31 March 2022 31 December 2021
Current assets:
Cash and cash equivalents 14,866,514,494.17 13,513,494,580.56
Settlement reserves
Lending funds
Held-for-trading financial assets 807,759,057.69 706,352,241.79
Derivative financial assets
Notes receivables
Accounts receivables 4,813,069.19 1,628,248.55
Accounts receivables financing 2,641,688,828.55 4,757,631,778.64
Prepayment 178,492,128.71 178,087,688.81
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve
Other receivables 36,394,538.29 28,615,361.96
Including：Interests receivable
Dividends receivable
Buying back the sale of financial
assets
Inventories 7,951,203,339.95 7,277,573,166.80
Contract assets
Assets held for sale
Non-current assets due within one
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
year
Other current assets 123,660,919.33 111,974,532.91
Total current assets 26,610,526,375.88 26,575,357,600.02
Non-current assets:
Disbursement of loans and
advances
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 2,596,785,166.05 2,626,744,236.25
Investments in other equity
315,159,465.24 363,312,120.43
instruments
Other non-current financial assets
Investment property
Fixed assets 8,071,314,507.49 8,089,487,274.39
Construction in progress 1,286,909,285.16 1,259,845,487.50
Productive biological assets
Oil and gas assets
Use right assets 51,623,214.08 52,714,810.04
Intangible assets 2,590,413,315.27 2,606,359,188.72
Development expenses
Goodwill
Long-term deferred expenses 1,253,360.96 1,463,869.21
Deferred tax assets 778,850,954.22 986,112,983.42
Other non-current assets 760,985,609.06 650,384,435.70
Total non-current assets 16,453,294,877.53 16,636,424,405.66
Total assets 43,063,821,253.41 43,211,782,005.68
Current liabilities:
Short-term loans
Borrowings from the central bank
Loans from other banks
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 2,247,889,691.09 2,420,354,469.53
Advance from customer
Contract liabilities 1,762,950,583.07 3,510,110,701.25
Financial assets sold for repurchase
Deposits from customers and
inter-bank
Customer brokerage deposits
Securities underwriting brokerage
deposits
Employee benefits payable 385,164,837.39 648,103,740.96
Taxes payable 1,996,786,163.76 3,173,479,627.79
Other payable 1,182,693,181.67 652,393,292.60
Including：Interests payable
Dividends payable
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
Handling charges and commissions
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
68,749,833.67 86,202,215.03
year
Other current liabilities 229,183,575.79 456,314,391.17
Total current liabilities 7,873,417,866.44 10,946,958,438.33
Non-current liabilities:
Insurance contract reserves
Long-term loans
Bonds payable 3,991,579,918.45 3,990,785,742.23
Including：Preference shares
Perpetual bonds
Lease liabilities 40,807,349.34 40,667,668.08
Long-term payables
Long-term payroll payables
Accrued liabilities
Deferred income 26,993,442.85 28,531,014.28
Deferred tax liabilities 55,891,560.09 67,578,019.93
Other non-current liabilities
Total non-current liabilities 4,115,272,270.73 4,127,562,444.52
Total liabilities 11,988,690,137.17 15,074,520,882.85
Owners' equity
Share capital 1,471,615,076.00 1,464,752,476.00
Other equity instruments
Including: preference shares
Perpetual bonds
Capital reserves 4,479,164,524.74 3,755,354,665.73
Less: treasury stock 636,231,646.00
Other comprehensive income 118,905,546.53 167,527,152.32
Special reserves
Surplus reserves 1,464,752,476.00 1,464,752,476.00
General risk reserve
Undistributed profits 24,063,519,152.08 21,187,860,235.89
Total equity attributable to owners of
30,961,725,129.35 28,040,247,005.94
the parent company
Non-controlling interests 113,405,986.89 97,014,116.89
Total owners' equity 31,075,131,116.24 28,137,261,122.83
Total liabilities and owners' equity 43,063,821,253.41 43,211,782,005.68
Legal representative：Liu Miao
Person in charge of accounting affairs：Xie Hong
Person in charge of accounting department：Yan Li
4.1.2 Consolidated income statement
Unit: CNY
Item Q1 2022 Q1 2021
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
1. Total operating revenue 6,311,964,675.84 5,003,680,377.12
Including: Operating revenue 6,311,964,675.84 5,003,680,377.12
Interest income
Earned premium
Fee and commission
income
2. Total operating costs 2,440,178,630.30 2,176,691,151.80
Including: Cost of sales 856,697,976.98 698,531,899.11
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 657,771,706.36 648,467,990.32
Selling and distribution
672,903,939.97 674,499,560.18
expenses
General and administrative
276,250,258.07 197,605,329.26
expenses
Research and
29,033,253.22 14,110,650.06
Development expenses
Financial expenses -52,478,504.30 -56,524,277.13
Including：Interest
63,035,341.73 27,138,723.39
expenses
Interest income 116,728,885.54 82,968,567.12
Plus: Other income 6,022,044.85 7,894,230.58
Investment income ("-" for
-4,938,112.16 44,769,830.41
losses)
Including: income from
investment in associates and joint -8,515,206.47 37,082,283.26
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
4,970,975.01
values(“-“ for losses)
Credit impairment losses (“-”
-1,286,540.82 -982,348.33
for losses)
Impairment losses(“-“ for
losses)
Gains from disposal of
0.00 -1,304.66
assets("-" for losses)
3. Operating profits ("-" for losses) 3,876,554,412.42 2,878,669,633.32
Plus: non-operating income 3,945,467.83 9,191,273.23
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
Less: non-operating expenses 162,551.01 4,767,583.11
4. Total profits before tax ("-" for
3,880,337,329.24 2,883,093,323.44
total losses)
Less: income tax expenses 989,104,638.68 703,243,781.49
5. Net profit ("-" for net loss) 2,891,232,690.56 2,179,849,541.95
5.1 By operating continuity
5.1.1 Net profit from continuing
2,891,232,690.56 2,179,849,541.95
operation ("-" for losses)
5.1.2 Net profit from discontinued
operation ("-" for losses)
5.2 By ownership
1) Attributable to owners of the parent
2,875,658,916.19 2,166,766,179.07
company
2) Attributable to non-controlling
15,573,774.37 13,083,362.88
interests
6. Net of tax from other
-48,933,737.96 -11,423,499.40
comprehensive income
Net of tax from other comprehensive
income to the owner of the parent -48,621,605.79 -11,540,921.25
company
6.1 Other comprehensive income
cannot reclassified into the profit and -36,114,491.38 -13,153,533.29
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 -36,114,491.38 -13,153,533.29
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 and -12,507,114.41 1,612,612.04
loss
1) Share in other comprehensive
income that will be classified into -12,125,620.38 1,469,331.68
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 financial -381,494.03 143,280.36
statements
7) Others
Net of tax from other comprehensive
-312,132.17 117,421.85
income to non-controlling interests
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
7. Total comprehensive income 2,842,298,952.60 2,168,426,042.55
Total comprehensive income
attributable to owners of the parent 2,827,037,310.40 2,155,225,257.82
company
Total comprehensive income
attributable to non-controlling 15,261,642.20 13,200,784.73
interests
8. Earnings per share
(1) Basic earnings per share 1.96 1.48
(2) Diluted earnings per share 1.96 1.48
Legal representative：Liu Miao
Person in charge of accounting affairs：Xie Hong
Person in charge of accounting department：Yan Li
4.1.3 Consolidated statement of cash flows
Unit: CNY
Item Q1 2022 Q1 2021
1. Cash flows from operating
activities
Cash received from sale of goods
7,498,117,523.13 6,447,302,776.34
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 2,419,962.72 158,646.02
Cash received from other operating
119,317,519.96 115,758,781.39
activities
Subtotal of cash inflows from
7,619,855,005.81 6,563,220,203.75
operating activities
Cash paid for goods purchased and
1,857,903,339.77 2,604,353,042.20
services received
Net increase in loans and advances
to customers
Net increase in deposits in central
bank and other banks and financial
12
Q1 2022 Report of Luzhou Laojiao Co., Ltd.
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
503,609,888.56 335,972,928.17
employees
Cash paid for taxes and surcharges 3,289,405,043.03 1,814,051,071.85
Cash paid for other operating
837,438,848.69 498,807,477.75
activities
Subtotal of cash outflows from
6,488,357,120.05 5,253,184,519.97
operating activities
Net cash flows from operating
1,131,497,885.76 1,310,035,683.78
activities
2. Cash flows from investing
activities
Cash received from disposal of
204,789,775.66
investments
Cash received from returns on
2,351,477.76 1,412,900.00
investments
Net cash received from disposal of
fixed assets, intangible assets and 19,000.00 8,800.00
other long-term assets
Net cash received from disposal of
subsidiaries and other business
units
Cash received from other investing
activities
Subtotal of cash inflows from
207,160,253.42 1,421,700.00
investing activities
Cash paid to acquire and construct
fixed assets, intangible assets and 313,715,087.73 437,859,053.59
other long-term assets
Cash paid for investments 300,000,000.00
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
613,715,087.73 437,859,053.59
investing activities
Net cash flows from investing
-406,554,834.31 -436,437,353.59
activities
3. Cash flows from financing
activities
Cash received from investors 636,232,466.00 5,886,464.02
Including: cash received by
subsidiaries from investments by
minority shareholders
Cash received from borrowings
Cash received from other financing
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Q1 2022 Report of Luzhou Laojiao Co., Ltd.
activities
Subtotal of cash inflows from
636,232,466.00 5,886,464.02
financing activities
Cash paid for debt repayments
Cash paid for distribution of
dividends and profits or payment of 52,502,625.00 52,502,625.00
interest
Including: dividends and profits paid
to minority shareholders by
subsidiaries
Cash paid for other financing
1,722,398.70
activities
Subtotal of cash outflows from
54,225,023.70 52,502,625.00
financing activities
Net cash flows from financing
582,007,442.30 -46,616,160.98
activities
4. Effect of fluctuation in
exchange rate on cash and cash -587,251.67 1,275,210.76
equivalents
5. Net increase in cash and cash
1,306,363,242.08 828,257,379.97
equivalents
Plus: balance of cash and cash
equivalents at the beginning of the 13,402,528,941.83 11,568,195,062.81
period
6. Balance of cash and cash
equivalents at the end of the 14,708,892,183.91 12,396,452,442.78
period
4.2 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.
The Board of Directors of Luzhou Laojiao Co., Ltd.
29 April 2022
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