Q3 2023 Report of Luzhou Laojiao Co., Ltd.
Stock Code: 000568 Stock abbreviation: Luzhou Laojiao Announcement No. 202 3-34
Luzhou Laojiao Co., Ltd.
Q3 2023 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 th ere 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
Q3 2023 YoY change Q1-Q3 2023 YoY change
Operating revenues
(CNY) 7,349,670,544.39 25.41% 21,942,722,318.53 25.21%
Net profits
attributable to 3,475,695,183.38 29.43% 10,566,121,970.45 28.58%
shareholders of the
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
Company (CNY)
Net profits
attributable to
shareholders of the
Company before 3,448,868,655.67 29.12% 10,489,802,350.76 28.44%
non-recurring gains
and losses (CNY)
Net cash flows from
operating activities — — 9,052,567,896.88 43.41%
(CNY)
Basic earnings per
share (CNY/share) 2.37 29.51% 7.19 28.62%
Diluted earnings per
share (CNY/share) 2.37 29.51% 7.19 28.62%
Weighted average
ROE 9.41% 0.02% 28.20% 0.85%
30 September 2023 31 December 2022 Change
Total assets (CNY) 61,405,540,815.15 51,385,481,354.52 19.50%
Net assets
attributable to
shareholders of the 38,658,674,091.94 34,207,871,130.03 13.01%
Company (CNY)
1.2 Non-recurring gains and losses
Applicable □ N/A
Unit: CNY
Item Q3 2023 Q1-Q3 2023 Note
Gain or loss from disposal
of non-current assets
(including the write-off -183,523.11 -661,002.49
portion of the impairment
provision)
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 13,214,939.37 34,381,277.25
continually 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 available-for- 9,375,353.21 47,214,663.73
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 above-mentioned 13,507,191.05 21,014,123.08
items
Less: Corporate income
tax 8,932,249.97 25,359,920.41
Minority interests 150,302.30 269,521.47
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
(after tax)
Total 26,831,408.25 76,319,619.69 --
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 cash and cash equivalents increased by CNY 9,009,426,603.08 compared to
the opening balance at the beginning of the year, indicating an increase of 50.74%. It was mainly due to
the increased cash received from operating activities and bank loans in the current period.
B. The closing balance of investments in other equity instruments decreased by CNY 692,706,562.47
compared to the opening balance at the beginning of the year, indicating a decrease of 60.94%. It was
mainly due to the disposal of some shareholdings of the H-stock of China Tourism Group Duty Free
Corporation Limited in the current period.
C. The closing balance of construction in progress increased by CNY 969,249,671.16 compared to the
opening balance at the beginning of the year, indicating a n increase of 119.82%. It was mainly due to the
increased investment in the project of technical renovation of Luzhou Laojiao Intelligent Packaging Center
in the current period.
D. The closing balance of deferred tax assets decreased by CNY 488,105,395.74 compared to the
opening balance at the beginning of the year, indicating a decrease of 48.56%. It was mainly due to the
decreased unrealized profits of internal transactions.
E. The closing balance of taxes payable decreased by CNY 1,600,456,469.04 compared to the opening
balance at the beginning of the year, indicating a decrease of 45.97%. It was mainly due to the payment
in the current period of taxes payable as at the end of last year.
F. The closing balance of long-term loans increased by CNY 6,825,300,000.00 compared to the opening
balance at the beginning of the year, indicating an increase of 214.66%. It was mainly due to the receipt
of bank loan in the current period.
G. The closing balance of deferred tax liabilities decreased by CNY 72,253,438.80 compared to the
opening balance at the beginning of the year, indicating a decrease of 43.51%; and the closing balance
of other comprehensive income decreased by CNY 238,715,939.92 compared to the opening balance at
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
the beginning of the year, indicating a decrease of 72.17%. It was mainly due to the decreased fair value
of equity investments.
H. Taxes and surcharges in the current Q1-Q3 period increased by CNY 700,938,845.14 compared to
the same period of last year, indicating an increase of 44.27%. It was mainly due to the increased
consumption tax in the current period.
I. Other income in the current Q1-Q3 period increased by CNY 23,972,588.31 compared to the same
period of last year, indicating an increase of 189.68%. It was mainly due to the increased government
grants in the current period.
J. Income tax expenses in the current Q1-Q3 period increased by CNY 855,559,403.79 compared to the
same period of last year, indicating an increase of 31.59%. It was mainly due to the increased sales
revenue from baijiu and the correspondingly increased profit.
K. Net cash flows from operating activities in the current Q1-Q3 period increased by CNY
2,740,225,736.75 compared to the same period of last year, indicating an increase of 43.41%. It was
mainly due to the increased cash received from sale of goods in the current period.
L. Net cash flows from investing activities in the current Q1-Q3 period increased by CNY
1,364,481,058.01 compared to the same period of last year, indicating an increase of 75.03%. It was
mainly due to the decreased purchases of wealth management products (collective asset management
plans) from securities firms in the current period compared to the same period of last year.
M. Net cash flows from financing activities in the current Q1-Q3 period increased by CNY
4,644,252,776.58 compared to the same period of last year, indicating an increase of 109.13%. It was
mainly due to the receipt of bank loan 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 common Total number of preference shareholders with
shareholders at the end of the 94,278 resumed voting rights at the end of the reporting 0
reporting period period (if any)
Shareholdings of the top 10 shareholders
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
corporation
Co., Ltd.
Luzhou
XingLu
State-owned
Investment 24.86% 365,971,142
corporation
Group Co.,
Ltd.
Hong Kong
Outbound
Securities 3.50% 51,490,491
corporation
Clearing
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
Company
Limited
Bank of China
Co., Ltd. –
Baijiu index
classification
securities Other 2.39% 35,156,742
investment
fund by China
Merchants
Fund
China
Securities
Finance Other 2.30% 33,842,059
Corporation
Limited
Bank of China
Co., Ltd.－
Blue chip
selected
hybrid Other 1.46% 21,500,000
securities
investment
fund by E
Fund
Industrial and
Commercial
Bank of China
Co., Ltd.-
Newly growth
hybrid Other 0.92% 13,598,087
securities
investment
fund by
Invesco Great
Wall
Central Huijin
Asset State-owned
Management corporation 0.92% 13,539,862
Co., Ltd.
China Life
Insurance
Company
Ltd.-Tradition-
Other 0.71% 10,439,399
Common
Insurance
Product-005L-
CT001 Hu
Agricultural
Bank of China
Co., Ltd. -
Consumption
industry stock
Other 0.64% 9,432,832
- based
securities
investment
fund by E
Fund
Shareholdings of the top 10 non-restricted shareholders
Type and number of shares
Name of shareholder Number of non-restricted shares held
Type Number
CNY common
Luzhou Laojiao Group Co., Ltd. 381,088,389 381,088,389
shares
Luzhou XingLu Investment CNY common
Group Co., Ltd. 365,971,142 shares 365,971,142
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
Hong Kong Securities Clearing CNY common
Company Limited 51,490,491 shares 51,490,491
Bank of China Co., Ltd. – Baijiu
index classification securities CNY common
investment fund by China 35,156,742 shares 35,156,742
Merchants Fund
China Securities Finance CNY common
Corporation Limited 33,842,059 shares 33,842,059
Bank of China Co., Ltd.－Blue
CNY common
chip selected hybrid securities 21,500,000 21,500,000
shares
investment fund by E Fund
Industrial and Commercial
Bank of China Co., Ltd.-Newly
CNY common
growth hybrid securities 13,598,087 13,598,087
shares
investment fund by Invesco
Great Wall
Central Huijin Asset CNY common
Management Co., Ltd. 13,539,862 shares 13,539,862
China Life Insurance Company
Ltd.-Tradition-Common CNY common
10,439,399 shares 10,439,399
Insurance Product-005L-CT001
Hu
Agricultural Bank of China Co.,
Ltd. - Consumption industry CNY common
stock - based securities 9,432,832 shares 9,432,832
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 b y shareholders. The announcement number is
2016-1 (http://www.cninfo.com.cn/). The two companies signed the
Related parties or acting-in-concert 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 b y 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 any) 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. Progress on the restricted share incentive plan
a. On 21 February 2022, the Company disclosed the Announcement on the Completion of Registration
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
of Restricted Share Grant, completed the registration of the first grant of restricted shares. Upon the
registration of the grant, 6,862,600 restricted shares were granted to 437 objects, the grant price was
CNY 92.71 per share and the listing date was 22 February 2022.
b. On 25 July 2022, the Company held the 18th Meeting of the 10th Board of Directors and the Ninth
Meeting of the 10th Board of Supervisors and reviewed and approved the Proposal on the Grant of
Reserved Restricted Shares to Awardees respectively. The independent directors consented to this
matter.
c. On 4 August 2022, the Board of Supervisors of the Company issued the review opinion, i.e.,
Explanation on the Review and Announcement of the List of Awardees for the Reserved Restricted
Shares of the 2021 Restricted Share Incentive Plan.
d. On 2 September 2022, the Company held the 22nd Meeting of the 10th Board of Directors and the
13th 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
Adjustment of the Granted Price of Reserved Restricted Shares of 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 92.71 per share to CNY 89.466 per share
in view of the implementation of the Company's profit distribution plan for 2021 . The independent directors
consented to this matter.
e. On 3 September 2022, the Company disclosed the Announcement on the Repurchase and
Cancellation of Some Restricted Shares to Reduce Registered Capital and Notice to Creditors. By the
expiration of the declaring period, the Company had not received any declaration from the relevant
creditors for early payout of debts or provision of guarantee.
f. On 26 September 2022, the Company disclosed the Announcement on the Completion of the
Registration of the Grant of the Reserved Restricted Shares under the 2021 Restricted Share Incentive
Plan. Upon the registration of the grant of the reserved restricted shares, 342,334 restricted shares were
granted to 46 objects, the grant price was CNY 89.466 per share and t he listing date was 28 September
2022.
g. On 29 November 2022, the Company disclosed the Announcement on the Completion of the
Repurchase and Cancellation of Some Restricted Shares. The Company proposed to repurchase and
cancel a total of 62,310 restricted shares granted but not lifted from restricted sales. As at 29 November
2022, the Company completed the aforesaid repurchase and cancellation of restricted shares.
h. On 29 December 2022, the Company held the 26th Meeting of the 10th Board of Directors and the
15th Meeting of the 10th Board of Supervisors and reviewed and approved the Proposal on the Grant of
Reserved Restricted Shares to Awardees respectively. The independent directors consented to this
matter.
i. On 13 January 2023, the Board of Supervisors of the Company issued the review opinion, i.e.,
Explanation on the Review and Announcement of the List of Awardees for the Reserved Restricted
Shares of the 2021 Restricted Share Incentive Plan.
j. On 16 February 2023, the Company disclosed the Announcement on the Completion of the Registration
of the Grant of the Reserved Restricted Shares under the 2021 Restricted Share Incentive Plan. Upon
the registration of the grant of the reserved restricted shares, 92,6 69 restricted shares were granted to
17 objects, the grant price was CNY 89.466 per share and the listing date was 17 February 2023.
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
B. The Company invested in the technical upgrade program of intelligent brewing (Phase I) with the
wholly-owned subsidiary, Brewing Company, 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.
30 September 2023
Unit: CNY
Item 30 September 2023 1 January 2023
Current assets:
Cash and cash equivalents 26,766,954,814.33 17,757,528,211.25
Settlement reserves
Lending funds
Held-for-trading financial assets 1,109,466,492.35 1,073,466,780.37
Derivative financial assets
Notes receivables
Accounts receivables 4,055,748.22 5,939,420.78
Accounts receivables financing 4,974,236,266.67 4,583,352,503.37
Prepayment 179,879,558.94 114,257,506.26
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve
Other receivables 16,119,904.18 23,396,533.98
Including：Interests receivable
Dividends receivable 982,269.00
Buying back the sale of financial
assets
Inventories 11,008,796,540.34 9,840,742,374.85
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 72,738,405.61 153,035,946.94
Total current assets 44,132,247,730.64 33,551,719,277.80
Non-current assets:
Disbursement of loans and advances
Investments in debt obligations
Investments in other debt obligations
Long-term receivables
Long-term equity investments 2,701,917,469.10 2,667,500,553.17
Investments in other equity
instruments 444,030,415.64 1,136,736,978.11
Other non-current financial assets
Investment property 38,126,426.13 39,149,454.22
Fixed assets 8,517,425,246.48 8,856,258,598.78
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
Construction in progress 1,778,168,718.37 808,919,047.21
Productive biological assets
Oil and gas assets
Use right assets 26,667,489.35 39,952,525.63
Intangible assets 3,042,446,283.63 3,083,271,852.79
Development expenses
Goodwill
Long-term deferred expenses 1,066,309.51 710,010.92
Deferred tax assets 517,061,958.06 1,005,167,353.80
Other non-current assets 206,382,768.24 196,095,702.09
Total non-current assets 17,273,293,084.51 17,833,762,076.72
Total assets 61,405,540,815.15 51,385,481,354.52
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 2,390,133,649.35 2,311,665,585.04
Advance from customer
Contract liabilities 2,961,546,778.58 2,566,374,718.76
Financial assets sold for repurchase
Deposits from customers and inter-
bank
Customer brokerage deposits
Securities underwriting brokerage
deposits
Employee benefits payable 541,761,443.44 675,034,885.31
Taxes payable 1,880,694,259.94 3,481,150,728.98
Other payable 1,172,588,684.95 1,202,409,278.49
Including：Interests payable
Dividends payable 16,594,850.58
Handling charges and commissions
payable
Reinsurance accounts payable
Liabilities held for sale
Non-current liabilities due within one
year 102,845,552.44 81,879,466.63
Other current liabilities 385,001,081.22 333,627,225.47
Total current liabilities 9,434,571,449.92 10,652,141,888.68
Non-current liabilities:
Insurance contract reserves
Long-term loans 10,004,900,000.00 3,179,600,000.00
Bonds payable 2,997,341,891.77 2,996,099,571.86
Including：Preference shares
Perpetual bonds
Lease liabilities 26,537,833.95 29,096,969.66
Long-term payables
Long-term payroll payables
Accrued liabilities
Deferred income 27,176,640.67 33,704,323.80
Deferred tax liabilities 93,790,225.08 166,043,663.88
Other non-current liabilities
Total non-current liabilities 13,149,746,591.47 6,404,544,529.20
Total liabilities 22,584,318,041.39 17,056,686,417.88
Owners' equity
Share capital 1,471,987,769.00 1,471,895,100.00
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
Other equity instruments
Including: preference shares
Perpetual bonds
Capital reserves 5,104,113,014.00 4,800,154,468.99
Less: treasury stock 616,743,610.59 639,021,998.78
Other comprehensive income 92,035,305.92 330,751,245.84
Special reserves
Surplus reserves 1,471,895,100.00 1,471,895,100.00
General risk reserve
Undistributed profits 31,135,386,513.61 26,772,197,213.98
Total equity attributable to owners of
the parent company 38,658,674,091.94 34,207,871,130.03
Non-controlling interests 162,548,681.82 120,923,806.61
Total owners' equity 38,821,222,773.76 34,328,794,936.64
Total liabilities and owners' equity 61,405,540,815.15 51,385,481,354.52
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 for Q1~Q3
Unit: CNY
Item Q1~Q3 2023 Q1~Q3 2022
1. Total operating revenue 21,942,722,318.53 17,524,835,252.45
Including: Operating revenue 21,942,722,318.53 17,524,835,252.45
Interest income
Earned premium
Fee and commission
income
2. Total operating costs 7,947,227,779.03 6,671,750,076.73
Including: Cost of sales 2,534,606,065.52 2,316,985,816.71
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 2,284,378,173.69 1,583,439,328.55
Selling and distribution
expenses 2,406,327,625.61 2,012,112,125.76
General and administrative
expenses 842,806,705.91 831,029,449.34
Research and Development
expenses 128,135,082.85 137,587,756.60
Financial expenses -249,025,874.55 -209,404,400.23
Including：Interest expenses 377,135,947.94 167,037,242.09
Interest income 626,899,439.08 363,158,884.99
Plus: Other income 36,610,879.53 12,638,291.22
Investment income ("-" for losses) 69,589,986.95 65,877,711.10
Including: income from
investment in associates and joint 54,878,251.56 44,512,210.26
ventures
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
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
values(“-“ for losses) 42,191,204.30 14,327,884.81
Credit impairment losses (“-”
for losses) 1,036,687.07 -67,457.73
Impairment losses(“-“ for
losses)
Gains from disposal of
assets("-" for losses) -661,002.49 19,789,402.07
3. Operating profits ("-" for losses) 14,144,262,294.86 10,965,651,007.19
Plus: non-operating income 29,489,316.30 16,092,692.23
Less: non-operating expenses 8,475,193.22 3,962,221.08
4. Total profits before tax ("-" for
total losses) 14,165,276,417.94 10,977,781,478.34
Less: income tax expenses 3,563,907,124.89 2,708,347,721.10
5. Net profit ("-" for net loss) 10,601,369,293.05 8,269,433,757.24
5.1 By operating continuity
5.1.1 Net profit from continuing
operation ("-" for losses) 10,601,369,293.05 8,269,433,757.24
5.1.2 Net profit from discontinued
operation ("-" for losses)
5.2 By ownership
1) Attributable to shareholders of the
parent company ("-" for losses) 10,566,121,970.45 8,217,303,913.08
2) Attributable to non-controlling
interests ("-" for losses) 35,247,322.60 52,129,844.16
6. Net of tax from other
comprehensive income -221,719,078.69 45,883,555.52
Net of tax from other comprehensive
income to the owner of the parent -222,500,286.71 43,565,958.16
company
6.1 Other comprehensive income
cannot reclassified into the profit and -222,936,907.49 63,325,296.91
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 131,244.39
profit and loss under equity method
3) Changes in fair value of
investments in other equity -223,068,151.88 63,325,296.91
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 436,620.78 -19,759,338.75
and loss
1) Share in other comprehensive
income that will be classified into -516,803.74 -22,592,920.34
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
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
5) Reserve for cash-flow hedge
6) Balance arising from the
translation of foreign currency 953,424.52 2,833,581.59
financial statements
7) Others
Net of tax from other comprehensive
income to non-controlling interests 781,208.02 2,317,597.36
7. Total comprehensive income 10,379,650,214.36 8,315,317,312.76
(1) Total comprehensive income
attributable to owners of the parent 10,343,621,683.74 8,260,869,871.24
company
(2) Total comprehensive income
attributable to non-controlling 36,028,530.62 54,447,441.52
interests
8. Earnings per share
(1) Basic earnings per share 7.19 5.59
(2) Diluted earnings per share 7.19 5.59
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 for Q1~Q3
Unit: CNY
Item Q1~Q3 2023 Q1~Q3 2022
1. Cash flows from operating
activities
Cash received from sale of goods
and rendering of services 27,644,766,394.51 20,369,485,734.05
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 2,467,243.81 95,698,863.27
Cash received from other operating
activities 712,179,872.13 834,990,702.97
Subtotal of cash inflows from
operating activities 28,359,413,510.45 21,300,175,300.29
Cash paid for goods purchased and
services received 6,711,528,483.77 4,863,419,709.63
Net increase in loans and advances
to customers
Net increase in deposits in central
bank and other banks and financial
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Q3 2023 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
employees 988,987,146.39 891,107,837.17
Cash paid for taxes and surcharges 9,187,530,503.56 7,296,952,201.19
Cash paid for other operating
activities 2,418,799,479.85 1,936,353,392.17
Subtotal of cash outflows from
operating activities 19,306,845,613.57 14,987,833,140.16
Net cash flows from operating
activities 9,052,567,896.88 6,312,342,160.13
2. Cash flows from investing
activities
Cash received from disposal of
investments 1,502,335,883.94 1,421,533,014.75
Cash received from returns on
investments 16,890,941.28 11,458,335.76
Net cash received from disposal of
fixed assets, intangible assets and 6,151,397.95 47,943,500.00
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
investing activities 1,525,378,223.17 1,480,934,850.51
Cash paid to acquire and construct
fixed assets, intangible assets and 879,418,321.30 717,170,625.85
other long-term assets
Cash paid for investments 1,100,000,000.00 2,582,285,380.80
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 1,979,418,321.30 3,299,456,006.65
Net cash flows from investing
activities -454,040,098.13 -1,818,521,156.14
3. Cash flows from financing
activities
Cash received from investors 10,373,040.14 662,106,513.16
Including: cash received by
subsidiaries from investments by 2,082,314.40 857,683.35
minority shareholders
Cash received from borrowings 6,850,000,000.00 2,500,000,000.00
Cash received from other financing
activities
Subtotal of cash inflows from
financing activities 6,860,373,040.14 3,162,106,513.16
Cash paid for debt repayments 20,100,000.00 2,500,125,000.00
Cash paid for distribution of
dividends and profits or payment of 6,450,638,992.85 4,911,607,735.04
interest
Including: dividends and profits paid
to minority shareholders by 14,784,831.00
subsidiaries
Cash paid for other financing
activities 1,137,908.64 6,130,416.05
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Q3 2023 Report of Luzhou Laojiao Co., Ltd.
Subtotal of cash outflows from
financing activities 6,471,876,901.49 7,417,863,151.09
Net cash flows from financing
activities 388,496,138.65 -4,255,756,637.93
4. Effect of fluctuation in exchange
rate on cash and cash equivalents 6,241,015.17 25,032,505.76
5. Net increase in cash and cash
equivalents 8,993,264,952.57 263,096,871.82
Plus: balance of cash and cash
equivalents at the beginning of the 17,729,006,591.87 13,402,528,941.83
period
6. Balance of cash and cash
equivalents at the end of the 26,722,271,544.44 13,665,625,813.65
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 2023
□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.
The Board of Directors of Luzhou Laojiao Co., Ltd.
31 October 2023
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