ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTER REPORT 2019
October 2019
Part I Important Notes
The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,
supervisors and senior management of Anhui Gujing Distillery Company Limited (together
with its consolidated subsidiaries, the “Company”, except where the context otherwise
requires) hereby guarantee the factuality, accuracy and completeness of the contents of this
Report and its summary, and shall be jointly and severally liable for any misrepresentations,
misleading statements or material omissions therein.
All the Company’s directors have attended the Board meeting for the review of this Report
and its summary.
Liang Jinhui, the Company’s legal representative, Ye Changqing, the Company’s Chief
Accountant, and Zhu Jiafeng, head of the Company’s financial department (equivalent to
financial manager) hereby guarantee that the financial statements carried in this Report are
factual, accurate and complete.
This Report and its summary have been prepared in both Chinese and English. Should there
be any discrepancies or misunderstandings between the two versions, the Chinese versions
shall prevail.
1
Part II Key Corporate Information
I Key Consolidated Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
30 September 2019 31 December 2018 Change (%)
Total assets (RMB) 13,265,837,811.82 12,509,928,449.72 6.04%
Equity attributable to the listed
8,588,195,185.21 7,601,984,024.58 12.97%
company’s shareholders (RMB)
Q3 2019 YoY change (%) Q1-Q3 2019 YoY change (%)
Operating revenue (RMB) 2,214,767,350.88 11.91% 8,202,880,349.97 21.31%
Net profit attributable to the listed
493,294,846.62 35.78% 1,741,611,160.63 38.69%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before 444,380,739.57 28.00% 1,610,375,324.09 32.04%
exceptional items (RMB)
Net cash generated from/used in
-- -- 2,241,371,504.76 -11.67%
operating activities (RMB)
Basic earnings per share
0.98 36.11% 3.46 38.96%
(RMB/share)
Diluted earnings per share
0.98 36.11% 3.46 38.96%
(RMB/share)
Weighted average return on equity
6.95% 1.03% 21.18% 3.03%
(%)
Unit: RMB
Item Q1-Q3 2019 Note
Gain or loss on disposal of non-current assets (inclusive of
-1,264,176.82
impairment allowance write-offs)
Government subsidies recognized in the current period, except for
those acquired in the ordinary course of business or granted at
44,269,941.91
certain quotas or amounts according to the government’s unified
standards
Gain/Loss on changes in fair value arising from holding of
trading financial assets and liabilities, derivative financial assets 123,457,671.32
and liabilities and investment income from disposal of trading
2
financial assets and liabilities, derivative financial assets and
liabilities and other investments in debt obligation other than
effective hedge business related to the Company’s normal
operating businesses
Other non-operating income and expense other than the above 23,973,103.11
Less: Income tax effects 47,055,752.14
Non-controlling interests effects (net of tax) 12,144,950.84
Total 131,235,836.54 --
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item defined or listed in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss
Items:
□ Applicable √ Not applicable
No such cases for the Reporting Period.
II Total Number of Shareholders and Holdings of Top 10 Shareholders at 30 September 2019
1. Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preferred
Number of ordinary shareholders 23,360 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders
Name of Nature of Shareholding Shares in pledge or frozen
Number of shares Restricted shares
shareholder shareholder percentage Status Shares
ANHUI GUJING
GROUP State-owned legal
53.89% 271,404,022 In pledge 114,000,000
COMPANY person
LIMITED
GAOLING Foreign legal
2.47% 12,446,408
FUND,L.P. person
AGRICULTURA
L BANK OF
CHINA- E
FUND
Other 2.45% 12,324,779
CONSUMPTION
SECTOR
STOCK
SECURITIES
3
INVESTMENT
FUND
HONG KONG
SECURITIES Foreign legal
2.04% 10,294,450
CLEARING person
COMPANY LTD.
CHINA INT'L
CAPITAL CORP
Foreign legal
HONG KONG 1.72% 8,657,025
person
SECURITIES
LTD
UBS (LUX)
EQUITY FUND -
Foreign legal
CHINA 1.40% 7,068,861
person
OPPORTUNITY
(USD)
CENTRAL
HUIJIN ASSET State-owned legal
1.30% 6,543,600
MANAGEMENT person
CO., LTD.
Foreign legal
NORGES BANK 1.24% 6,249,311
person
GREENWOODS
Foreign legal
CHINA ALPHA 1.12% 5,657,150
person
MASTER FUND
INDUSTRIAL
AND
COMMERCIAL
BANK OF
CHINA
LIMITED-JINGS
HUN
Other 1.05% 5,299,950
GREATWALL
EMERGING
GROWTH
HYBRID
SECURITIES
INVESTMENT
FUND
Top 10 unrestricted shareholders
Name of shareholder Unrestricted shares Shares by type
4
Type Shares
ANHUI GUJING GROUP RMB-denominate
271,404,022 271,404,022
COMPANY LIMITED d ordinary stock
Domestically
GAOLING FUND,L.P. 12,446,408 listed foreign 12,446,408
stock
AGRICULTURAL BANK OF
CHINA- E FUND CONSUMPTION RMB-denominate
12,324,779 12,324,779
SECTOR STOCK SECURITIES d ordinary stock
INVESTMENT FUND
HONG KONG SECURITIES RMB-denominate
10,294,450 10,294,450
CLEARING COMPANY LTD. d ordinary stock
Domestically
CHINA INT'L CAPITAL CORP
8,657,025 listed foreign 8,657,025
HONG KONG SECURITIES LTD
stock
Domestically
UBS (LUX) EQUITY FUND -
7,068,861 listed foreign 7,068,861
CHINA OPPORTUNITY (USD)
stock
CENTRAL HUIJIN ASSET RMB-denominate
6,543,600 6,543,600
MANAGEMENT CO., LTD. d ordinary stock
Domestically
NORGES BANK 6,249,311 listed foreign 6,249,311
stock
Domestically
GREENWOODS CHINA ALPHA
5,657,150 listed foreign 5,657,150
MASTER FUND
stock
INDUSTRIAL AND
COMMERCIAL BANK OF CHINA
LIMITED-JINGSHUN RMB-denominate
5,299,950 5,299,950
GREATWALL EMERGING d ordinary stock
GROWTH HYBRID SECURITIES
INVESTMENT FUND
Among the shareholders above, the Company’s controlling shareholder—Anhui Gujing
Group Company Limited—is not a connected party of other shareholders; nor are they parties
acting in concert as defined in the Administrative Measures on Information Disclosure of
Related or acting-in-concert parties
Changes in Shareholding of Listed Companies. As for the other shareholders, the Company
among shareholders above
does not know whether they are connected parties or whether they belong to parties acting in
concert as defined in the Administrative Measures on Information Disclosure of Changes in
Shareholding of Listed Companies.
Top 10 ordinary shareholders
N/A
involved in securities margin trading
5
(if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the
Company conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
6
Part III Significant Events
I Changes in Selected Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Unit: RMB
30 September
Balance sheet item 31 December 2018 Change (%) Explanation of why
2019
Increase in cash received from sales and
Monetary capital 3,696,303,467.62 1,705,760,865.12 116.70%
investments
Other receivables 21,798,848.07 43,342,878.22 -49.71% Decrease in interests receivable
The main reason is the reclassification of
Other current assets 13,520,098.86 3,012,478,687.20 -99.55%
financial assets.
The main reason is the establishment of
Construction in progress 214,689,618.57 93,320,557.56 130.06%
digital information system
Other non-current assets 1,270,574,026.00 16,544,407.51 7,579.78% Increase in investments and financing
Increase in signing and issuing of
Notes payable 534,364,252.21 349,203,413.72 53.02%
commercial bills
Payroll payable 266,282,737.94 457,299,476.43 -41.77% Increase in payment of remuneration
Income statement item Q1~Q3 2019 Q1~Q3 2018 Change (%) Explanation of why
R&D expense 25,719,404.29 11,993,003.62 114.45% Increase in R&D input
Increase in receipt of income-related
Other income 44,662,596.55 11,725,901.76 280.89%
government subsidies
Cash flow statement
Q1~Q3 2019 Q1~Q3 2018 Change (%) Explanation of why
item
Tax refunds received 20,674,445.06 5,652,636.00 265.75% Increase in tax refunds received
Cash received from Increase in cash received from withdrawal
withdrawal of 3,337,200,054.88 1,947,182,948.35 71.39% of investments and financing due to
investments maturity
Cash paid for
distributing dividends
755,400,000.00 503,600,000.00 50.00% Increase in distribution of dividends
and profits or paying
interests
II Progress, Influence and Solutions Associated with Significant Events
□ Applicable √ Not applicable
7
III Commitments that the Company, Shareholders, the Company’s Actual Controller,
Acquirer, Directors, Supervisors, and Senior Executives or other Related Parties, Fulfilled in
the Reporting Period or still Ongoing at Period-End
□ Applicable √ Not applicable
No such cases in the Reporting Period.
8
IV 2019 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in net profit for year 2019, as well as explanation of why:
□ Applicable √ Not applicable
V Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/Loss on Accumulated
Purchased
Security Security Security Initial Beginning fair-value fair-value Sold in Gain/Loss in Ending Accounting Funding
Measurement in
carrying changes in changes Reporting Reporting carrying
type code name investment cost method Reporting title source
amount Reporting charged to Period Period amount
Period
Period equity
ZXYSDP
Trading
1st Assets Fair value
Other 200,000,000.00 206,393,107.46 17,197,481.92 0.00 0.00 0.00 0.00 223,590,589.38 financial Self-funded
Management method
assets
Plan
Total 200,000,000.00 -- 206,393,107.46 17,197,481.92 0.00 0.00 0.00 0.00 223,590,589.38 -- --
Disclosure date of announcement
on Board’s consent for securities Naught
investments
Disclosure date of announcement
on general meeting’s consent for Naught
securities investments (if any)
VI Wealth Management Entrustment
√ Applicable □ Not applicable
9
Unit: RMB’0,000 (in RMB ten thousand yuan)
Type of wealth management Funding source Principal Outstanding amount before maturity Overdue amount
Wealth management product
Self-funded 302,900 86,600 0.00
purchased from bank
Wealth management product
Self-funded 18,000 0.00 0.00
purchased from broker
Wealth management product
Self-funded 30,000 0.00 0.00
purchased from entrustment
Others Self-funded 20,000 20,000 0.00
Total 370,900 106,600 0.00
High-risk wealth management entrustments with amounts that are individually significant, or with low security, low liquidity, or no protection of the principal:
√ Applicable □ Not applicable
Actual
gain/loss in Through Overview
Type of Principal En Reference Impairmen Any plan
Star Investment Way of Expecte Reporting Collection/payme prescribe and index
Type of wealth (Unit: Funding d annualize t for further
Trustee t with paybac d return Period nt of gain/loss in d to more
trustee managemen RMB’0,000 source dat d return allowance entrustmen
date principal k (if any) (Unit: Reporting Period procedure informatio
t product ) e (%) (if any) t
RMB’0,000 or not n (if any)
)
Purchasing 1.2% of
CITIC new shares the net
Wings Asset Compan Assets offline, value of
Self-funde
Managemen y managemen 20,000 fixed product 6.00% 0.00 N/A 0.00 Yes Yes
d
t Company Limited t plan income and
Limited instruments 20% of
, and excess
10
Reverse earning
repurchase s
of national
debt, etc
Total 20,000 -- -- -- -- -- -- 0.00 -- 0.00 -- -- --
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
VII Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000 (in RMB ten thousand yuan)
Ending
investment Actual
Relationship Related-party Initial Purchased in Sold in Impairment
Type of Beginning Ending as % of the gain/loss in
Counterparty with the transaction investment Start date End date Reporting Reporting allowance
derivative investment investment Company’s Reporting
Company or not amount Period Period (if any)
ending net Period
assets
Reverse
Reverse 28
repurchase 30 June
Naught No repurchase of 0.00 December 17,990 1,090 19,080 0.00 0.00% 0.35
of national 2019
national debt 2018
debt
Total 0.00 -- -- 17,990 1,090 19,080 0.00 0.00% 0.35
Funding source Self-funded
Legal matters involved (if applicable) N/A
Disclosure date of board announcement approving
30 August 2013
derivative investment (if any)
11
Disclosure date of general meeting announcement
approving derivative investment (if any)
Analysis of risks and control measures associated with
derivative investments held in Reporting Period
The Company had controlled the relevant risks strictly according to the Derivatives Investment Management System.
(including but not limited to market risk, liquidity risk,
credit risk, operational risk, legal risk, etc.)
Changes in market prices or fair value of derivative
investments in Reporting Period (fair value analysis
Naught
should include measurement method and related
assumptions and parameters)
Major changes in accounting policies and specific
accounting principles adopted for derivative
Naught
investments in Reporting Period compared to last
reporting period
Based on the sustainable development of the main business and the sufficient free idle money, the Company increased the profits
through investing in the reasonable financial derivative instruments, which was in favor of improving the service efficiency of the idle
funds; in order to reduce the investment risks of the financial derivative instruments, the Company had set up corresponding supervision
Opinion of independent directors on derivative mechanism for the financial derivative instrument business and formulated reasonable accounting policy as well as specific principles of
investments and risk control financial accounting; the derivative Investment business developed separately took national debts as mortgage object, which was met
with the cautious and steady risks management principle and the interest of the Company and shareholders. Therefore, agreed the
Company to develop the derivative Investment business of reverse repurchase of national debt not more than the limit of RMB0.3
billion.
12
VIII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.
during Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by Controlling Shareholder or Its Related Parties for
Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
13
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited
30 September 2019
Unit: RMB
Item 30 September 2019 31 December 2018
Current assets:
Monetary capital 3,696,303,467.62 1,705,760,865.12
Settlement reserve
Interbank loans granted
Trading financial assets 1,182,590,589.38 0.00
Financial assets at fair value through
0.00 622,892.96
profit or loss
Derivative financial assets
Notes receivable 1,205,217,571.01 1,347,427,811.34
Accounts receivable 30,776,795.29 29,748,068.74
Accounts receivable financing
Prepayments 128,268,357.38 182,558,000.75
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 21,798,848.07 43,342,878.22
Including: Interests receivable 0.00 24,923,178.08
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 2,460,013,044.40 2,407,306,664.86
Contractual assets
Assets classified as held for sale
Current portion of non-current assets 0.00 300,000,000.00
14
Other current assets 13,520,098.86 3,012,478,687.20
Total current assets 8,738,488,772.01 9,029,245,869.19
Non-current assets:
Loans and advances to customers
Investments in debt obligations
Available-for-sale financial assets 0.00 206,393,107.46
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 4,769,375.34 4,900,000.00
Investments in other equity
instruments
Other non-current financial assets
Investment property 4,789,371.67 5,027,228.53
Fixed assets 1,657,696,280.27 1,763,988,530.56
Construction in progress 214,689,618.57 93,320,557.56
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 728,660,670.42 742,083,609.10
R&D expense
Goodwill 478,283,495.29 478,283,495.29
Long-term prepaid expense 69,290,325.48 83,561,473.46
Deferred income tax assets 98,595,876.77 86,580,171.06
Other non-current assets 1,270,574,026.00 16,544,407.51
Total non-current assets 4,527,349,039.81 3,480,682,580.53
Total assets 13,265,837,811.82 12,509,928,449.72
Current liabilities:
Short-term borrowings
Borrowings from central bank
Interbank loans obtained
Trading financial liabilities
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
15
Notes payable 534,364,252.21 349,203,413.72
Accounts payable 379,566,637.85 484,952,598.59
Advances from customers 889,878,114.36 1,149,143,310.48
Contractual liabilities
Financial assets sold under
repurchase agreements
Customer deposits and interbank
deposits
Payables for acting trading of
securities
Payables for underwriting of
securities
Payroll payable 266,282,737.94 457,299,476.43
Taxes payable 374,653,268.64 372,993,624.18
Other payables 1,307,511,367.33 1,192,020,147.82
Including: Interest payable
Dividends payable
Handling charges and commissions
payable
Reinsurance payable
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities 278,907,017.40 295,164,745.44
Total current liabilities 4,031,163,395.73 4,300,777,316.66
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 73,566,143.65 76,636,500.55
16
Deferred income tax liabilities 105,495,063.97 102,764,515.11
Other non-current liabilities
Total non-current liabilities 179,061,207.62 179,401,015.66
Total liabilities 4,210,224,603.35 4,480,178,332.32
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 1,295,405,592.25 1,295,405,592.25
Less: Treasury stock
Other comprehensive income 0.00 4,794,830.59
Specific reserve
Surplus reserves 256,902,260.27 256,902,260.27
General reserve
Retained earnings 6,532,287,332.69 5,541,281,341.47
Total equity attributable to owners of
8,588,195,185.21 7,601,984,024.58
the Company as the parent
Non-controlling interests 467,418,023.26 427,766,092.82
Total owners’ equity 9,055,613,208.47 8,029,750,117.40
Total liabilities and owners’ equity 13,265,837,811.82 12,509,928,449.72
Legal representative: Liang Jinhui The Company’s chief accountant: Ye Changqing
Head of the Company’s financial department: Zhu Jiafeng
2. Balance Sheet of the Company as the Parent
Unit: RMB
Item 30 September 2019 31 December 2018
Current assets:
Monetary capital 2,715,636,124.24 1,078,172,917.59
Trading financial assets 889,590,589.38 0.00
Financial assets at fair value through
0.00 622,892.96
profit or loss
Derivative financial assets
Notes receivable 945,951,910.95 1,256,336,386.34
17
Accounts receivable 12,315,991.92 9,385,950.54
Accounts receivable financing
Prepayments 36,280,673.79 10,869,911.54
Other receivables 86,032,697.25 110,800,665.19
Including: Interests receivable
Dividends receivable
Inventories 2,088,506,955.04 2,125,826,967.11
Contractual assets
Assets classified as held for sale
Current portion of non-current assets
Other current assets 0.00 1,764,267,968.83
Total current assets 6,774,314,942.57 6,356,283,660.10
Non-current assets:
Investments in debt obligations
Available-for-sale financial assets 0.00 206,393,107.46
Investments in other debt obligations
Held-to-maturity investments
Long-term receivables
Long-term equity investments 1,148,213,665.32 1,148,213,665.32
Investments in other equity
instruments
Other non-current financial assets
Investment property 4,789,371.67 24,715,657.40
Fixed assets 1,235,047,264.11 1,290,714,455.79
Construction in progress 175,684,124.11 86,634,753.93
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 184,454,384.36 189,968,142.25
R&D expense
Goodwill
Long-term prepaid expense 46,629,222.80 56,643,945.05
Deferred income tax assets 20,829,351.24 37,415,458.17
Other non-current assets 574,026.00 12,474,026.00
18
Total non-current assets 2,816,221,409.61 3,053,173,211.37
Total assets 9,590,536,352.18 9,409,456,871.47
Current liabilities:
Short-term borrowings
Trading financial liabilities
Financial liabilities at fair value
through profit or loss
Derivative financial liabilities
Notes payable 48,266,234.40 28,648,913.72
Accounts payable 326,366,511.31 362,290,556.21
Advances from cu 1,282,992,147.54 1,123,125,892.84
Contractual liabilities
Payroll payable 73,149,434.31 117,748,485.96
Taxes payable 233,134,193.16 161,176,957.25
Other payables 239,324,288.73 372,902,293.22
Including: Interests payable
Dividends payable
Liabilities directly associated with
assets classified as held for sale
Current portion of non-current
liabilities
Other current liabilities 3,966,911.24 32,605,794.55
Total current liabilities 2,207,199,720.69 2,198,498,893.75
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 33,863,587.71 36,417,554.85
Deferred income tax liabilities 9,045,546.24 4,828,737.52
Other non-current liabilities
19
Total non-current liabilities 42,909,133.95 41,246,292.37
Total liabilities 2,250,108,854.64 2,239,745,186.12
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserves 1,247,162,107.35 1,247,162,107.35
Less: Treasury stock
Other comprehensive income 4,794,830.59
Specific reserve
Surplus reserves 251,800,000.00 251,800,000.00
Retained earnings 5,337,865,390.19 5,162,354,747.41
Total owners’ equity 7,340,427,497.54 7,169,711,685.35
Total liabilities and owners’ equity 9,590,536,352.18 9,409,456,871.47
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2019 Q3 2018
1. Revenue 2,214,767,350.88 1,979,015,719.48
Including: Operating revenue 2,214,767,350.88 1,979,015,719.48
Interest income
Premium income
Handling charge and
commission income
2. Operating costs and expenses 1,606,834,684.29 1,533,956,349.59
Including: Cost of sales 549,495,046.47 449,656,771.27
Interest expense
Handling charge and
commission expense
Surrenders
Net claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
20
Reinsurance premium
expense
Taxes and surcharges 339,483,400.01 262,259,812.95
Selling expense 572,186,624.20 655,345,557.85
Administrative expense 155,163,347.70 159,034,927.22
R&D expense 11,055,166.62 3,965,869.26
Finance costs -20,548,900.71 3,693,411.04
Including: Interest
12,839,179.18 0.00
expense
Interest
31,759,206.44 10,808,466.78
income
Add: Other income 13,878,677.87 7,238,865.71
Investment income (“-” for loss) 28,665,355.29 36,500,416.69
Including: Share of profit or loss
of joint ventures and associates
Derecognition income of financial
assets measured at amortized cost
Foreign exchange gain (“-” for
loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
5,994,298.28 -255,827.36
for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
159,351.46 5,770.66
loss)
Asset disposal income (“-” for
103,277.91 -43,358.78
loss)
3. Operating profit (“-” for loss) 656,733,627.40 488,505,236.81
Add: Non-operating income 14,398,366.14 11,046,979.09
Less: Non-operating expense 1,313,838.64 2,375,421.09
4. Profit before tax (“-” for loss) 669,818,154.90 497,176,794.81
Less: Income tax expense 163,503,787.54 123,682,385.77
5. Net profit (“-” for net loss) 506,314,367.36 373,494,409.04
5.1 By operating continuity
5.1.1 Net profit from continuing
506,314,367.36 373,494,409.04
operations (“-” for net loss)
21
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
493,294,846.62 363,302,909.34
owners of the Company as the parent
5.2.2 Net profit attributable to
13,019,520.74 10,191,499.70
non-controlling interests
6. Other comprehensive income, net of
0.00 -3,418,191.21
tax
Attributable to owners of the Company
0.00 -3,418,191.21
as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
6.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value of
the company’s credit risks
6.1.5 Other
6.2 Items that may subsequently be
0.00 -3,418,191.21
reclassified to profit or loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss under
equity method
6.2.2 Changes in the fair value of
investments in other debt obligations
6.2.3 Gain/Loss on changes in the
fair value of available-for-sale financial 0.00 -3,418,191.21
assets
6.2.4 Other comprehensive
income arising from the reclassification
of financial assets
6.2.5 Gain/Loss arising from the
reclassification of held-to-maturity
investments to available-for-sale financial
assets
22
6.2.6 Allowance for credit
impairments in investments in other debt
obligations
6.2.7 Reserve for cash flow
hedges
6.2.8 Differences arising from the
translation of foreign
currency-denominated financial
statements
6.2.9 Other
Attributable to non-controlling
interests
7. Total comprehensive income 506,314,367.36 370,076,217.83
Attributable to owners of the Company
493,294,846.62 359,884,718.13
as the parent
Attributable to non-controlling
13,019,520.74 10,191,499.70
interests
8. Earnings per share
8.1 Basic earnings per share 0.98 0.72
8.2 Diluted earnings per share 0.98 0.72
Legal representative: Liang Jinhui The Company’s chief accountant: Ye Changqing
Head of the Company’s financial department: Zhu Jiafeng
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2019 Q3 2018
1. Operating revenue 1,194,365,169.31 966,230,506.66
Less: Cost of sales 502,553,273.90 407,544,411.06
Taxes and surcharges 293,611,844.72 224,111,296.49
Selling expense 12,543,759.60 56,667,185.18
Administrative expense 106,708,524.92 110,294,343.82
R&D expense 7,250,613.44 3,045,462.80
Finance costs -17,982,297.10 4,498,704.12
Including: Interest expense 12,839,179.18 0.00
Interest income 30,860,960.92 7,601,319.39
Add: Other income 6,167,148.89 6,035,419.81
Investment income (“-” for loss) 10,800,845.34 30,902,683.31
23
Including: Share of profit or loss
of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
5,994,298.28 -255,827.36
for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
loss)
Asset disposal income (“-” for
loss)
2. Operating profit (“-” for loss) 312,641,742.34 196,751,378.95
Add: Non-operating income 11,030,693.23 8,922,115.32
Less: Non-operating expense 825,676.96 2,344,326.21
3. Profit before tax (“-” for loss) 322,846,758.61 203,329,168.06
Less: Income tax expense 80,711,689.66 51,037,972.71
4. Net profit (“-” for net loss) 242,135,068.95 152,291,195.35
4.1 Net profit from continuing
242,135,068.95 152,291,195.35
operations (“-” for net loss)
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income, net of
0.00 -3,389,900.15
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
5.1.2 Other comprehensive income
that will not be reclassified to profit or
loss under the equity method
5.1.3 Changes in the fair value of
investments in other equity instruments
5.1.4 Changes in the fair value of
the company’s credit risks
24
5.1.5 Other
5.2 Items that may subsequently be
0.00 -3,389,900.15
reclassified to profit or loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss
under equity method
5.2.2 Changes in the fair value of
investments in other debt obligations
5.2.3 Gain/Loss on changes in the
fair value of available-for-sale financial 0.00 -3,389,900.15
assets
5.2.4 Other comprehensive income
arising from the reclassification of
financial assets
5.2.5 Gain/Loss arising from the
reclassification of held-to-maturity
investments to available-for-sale
financial assets
5.2.6 Allowance for credit
impairments in investments in other
debt obligations
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.9 Other
6. Total comprehensive income 242,135,068.95 148,901,295.20
7. Earnings per share
7.1 Basic earnings per share 0.48 0.30
7.2 Diluted earnings per share 0.48 0.30
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Revenue 8,202,880,349.97 6,762,099,614.81
Including: Operating revenue 8,202,880,349.97 6,762,099,614.81
Interest income
25
Premium income
Handling charge and
commission income
2. Operating costs and expenses 6,023,415,690.08 5,163,614,737.70
Including: Cost of sales 1,943,651,781.02 1,492,332,239.51
Interest expense
Handling charge and
commission expense
Surrenders
Net claims paid
Net amount provided as
policy reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and surcharges 1,209,011,162.05 991,726,986.48
Selling expense 2,412,676,063.90 2,252,645,873.02
Administrative expense 457,208,804.83 431,508,130.58
R&D expense 25,719,404.29 11,993,003.62
Finance costs -24,851,526.01 -16,591,495.51
Including: Interest
27,013,151.27 0.00
expense
Interest
52,225,855.46 32,453,350.26
income
Add: Other income 44,662,596.55 11,725,901.76
Investment income (“-” for loss) 106,012,402.82 105,275,436.64
Including: Share of profit or loss
of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Foreign exchange gain (“-” for
loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
17,314,643.84 -19,119.59
for loss)
26
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
-6,262,466.61 -1,166,140.70
loss)
Asset disposal income (“-” for
222,766.47 111,079.03
loss)
3. Operating profit (“-” for loss) 2,341,414,602.96 1,714,412,034.25
Add: Non-operating income 25,549,129.67 25,805,776.85
Less: Non-operating expense 3,051,449.71 6,813,434.13
4. Profit before tax (“-” for loss) 2,363,912,282.92 1,733,404,376.97
Less: Income tax expense 582,649,191.85 444,472,301.01
5. Net profit (“-” for net loss) 1,781,263,091.07 1,288,932,075.96
5.1 By operating continuity (“-” for net
loss)
5.1.1 Net profit from continuing
1,781,020,727.52 1,288,932,075.96
operations (“-” for net loss)
5.1.2 Net profit from discontinued
operations (“-” for net loss)
5.2 By ownership
5.2.1 Net profit attributable to
1,741,611,160.63 1,255,725,246.98
owners of the Company as the parent
5.2 2. Net profit attributable to
39,651,930.44 33,206,828.98
non-controlling interests
6. Other comprehensive income, net of
0.00 -48,520,466.79
tax
Attributable to owners of the Company
0.00 -48,520,466.79
as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
6.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value of
the company’s credit risks
27
6.1.5 Other
6.2 Items that may subsequently be
0.00 -48,520,466.79
reclassified to profit or loss
6.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss under
equity method
6.2.2 Changes in the fair value of
investments in other debt obligations
6.2.3 Gain/Loss on changes in fair
value of available-for-sale financial 0.00 -48,520,466.79
assets
6.2.4. Other comprehensive
income arising from the reclassification
of financial assets
6.2.5 Gain/Loss arising from
reclassification of held-to-maturity
investments to available-for-sale financial
assets
6.2.6 Allowance for credit
impairments in investments in other debt
obligations
6.2.7 Reserve for cash flow
hedges
6.2.8 Differences arising from
translation of foreign
currency-denominated financial
statements
6.2.9 Other
Attributable to non-controlling
interests
7. Total comprehensive income 1,781,263,091.07 1,240,411,609.17
Attributable to owners of the Company
1,741,611,160.63 1,207,204,780.19
as the parent
Attributable to non-controlling
39,651,930.44 33,206,828.98
interests
8. Earnings per share
8.1 Basic earnings per share 3.46 2.49
8.2 Diluted earnings per share 3.46 2.49
Legal representative: Liang Jinhui The Company’s chief accountant: Ye Changqing
28
Head of the Company’s financial department: Zhu Jiafeng
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Operating revenue 4,339,047,632.89 3,339,740,226.62
Less: Cost of sales 1,780,471,850.81 1,369,991,138.38
Taxes and surcharges 1,058,210,690.84 836,991,302.87
Selling expense 58,430,231.41 146,852,888.17
Administrative expense 309,366,786.60 293,729,948.49
R&D expense 16,286,743.25 10,431,247.70
Finance costs -20,041,354.26 -12,706,830.00
Including: Interest expense 26,846,026.27 0.00
Interest income 48,601,883.96 27,845,600.69
Add: Other income 9,539,867.14 8,398,899.82
Investment income (“-” for loss) 42,684,714.10 92,204,951.64
Including: Share of profit or
loss of joint ventures and associates
Derecognition income of
financial assets measured at amortized
cost
Net gain on exposure hedges
(“-” for loss)
Gain on changes in fair value
17,314,643.84 -19,119.59
(“-” for loss)
Credit impairment loss (“-” for
loss)
Assets impairment loss (“-” for
-6,131,316.45 -1,440,847.72
loss)
Asset disposal income (“-” for
36,552.41 0.00
loss)
2. Operating profit (“-” for loss) 1,199,767,145.28 793,594,415.16
Add: Non-operating income 20,373,416.46 21,200,416.41
Less: Non-operating expense 2,050,990.73 5,660,670.73
3. Profit before tax (“-” for loss) 1,218,089,571.01 809,134,160.84
Less: Income tax expense 291,973,758.82 213,614,710.77
29
4. Net profit (“-” for net loss) 926,115,812.19 595,519,450.07
4.1 Net profit from continuing
926,115,812.19 595,519,450.07
operations (“-” for net loss)
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income, net of
0.00 -48,454,375.73
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes in net liabilities or
assets caused by remeasurements on
defined benefit pension schemes
5.1.2 Share of other
comprehensive income of investees that
will not be reclassified to profit or loss
under equity method
5.1.3 Changes in the fair value of
investments in other debt obligations
5.1.4 Changes in the fair value of
the company’s credit risks
5.1.5 Other
5.2 Items that may subsequently be
0.00 -48,454,375.73
reclassified to profit or loss
5.2.1 Share of other
comprehensive income of investees that
will be reclassified to profit or loss
under equity method
5.2.2 Changes in the fair value of
investments in other debt obligations
5.2.3 Gain/Loss on changes in fair
value of available-for-sale financial 0.00 -48,454,375.73
assets
5.2.4 Other comprehensive income
arising from the reclassification of
financial assets
5.2.5 Gain/Loss arising from
reclassification of held-to-maturity
investments to available-for-sale
financial assets
5.2.6 Allowance for credit
impairments in investments in other
30
debt obligations
5.2.7 Reserve for cash flow hedges
5.2.8 Differences arising from
translation of foreign
currency-denominated financial
statements
5.2.9 Other
6. Total comprehensive income 926,115,812.19 547,065,074.34
7. Earnings per share
7.1 Basic earnings per share 1.84 1.18
7.2 Diluted earnings per share 1.84 1.18
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
Proceeds from sale of commodities
8,252,482,399.40 7,234,393,863.39
and rendering of services
Net increase in customer deposits and
interbank deposits
Net increase in borrowings from
central bank
Net increase in loans from other
financial institutions
Premiums received on original
insurance contracts
Net proceeds from reinsurance
Net increase in deposits and
investments of policy holders
Interest, handling charges and
commissions received
Net increase in interbank loans
obtained
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax rebates 20,674,445.06 5,652,636.00
Cash generated from other operating
711,377,701.47 752,962,249.94
activities
31
Subtotal of cash generated from
8,984,534,545.93 7,993,008,749.33
operating activities
Payments for commodities and
1,579,978,848.34 1,161,445,122.31
services
Net increase in loans and advances to
customers
Net increase in deposits in central
bank and in interbank loans granted
Payments for claims on original
insurance contracts
Net increase in interbank loans
granted
Interest, handling charges and
commissions paid
Policy dividends paid
Cash paid to and for employees 1,445,715,909.31 1,096,353,967.34
Taxes paid 2,674,734,494.33 2,355,225,927.92
Cash used in other operating
1,042,733,789.19 842,524,816.77
activities
Subtotal of cash used in operating
6,743,163,041.17 5,455,549,834.34
activities
Net cash generated from/used in
2,241,371,504.76 2,537,458,914.99
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 3,337,200,054.88 1,947,182,948.35
Investment income 131,076,489.02 98,688,294.81
Net proceeds from disposal of fixed
assets, intangible assets and other 294,196.00 190,780.00
long-lived assets
Net proceeds from disposal of
subsidiaries or other business units
Cash generated from other investing
activities
Subtotal of cash generated from
3,468,570,739.90 2,046,062,023.16
investing activities
Payments for acquisition of fixed
assets, intangible assets and other 242,619,594.59 236,113,190.57
long-lived assets
Payments for investments 2,355,560,163.50 2,577,352,685.44
Net increase in pledged loans granted
32
Net payments for acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
2,598,179,758.09 2,813,465,876.01
activities
Net cash generated from/used in
870,390,981.81 -767,403,852.85
investing activities
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Increase in borrowings obtained
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
Repayment of borrowings
Payments for interest and dividends 755,400,000.00 503,600,000.00
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing
activities
Subtotal of cash used in financing
755,400,000.00 503,600,000.00
activities
Net cash generated from/used in
-755,400,000.00 -503,600,000.00
financing activities
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
2,356,362,486.57 1,266,455,062.14
equivalents
Add: Cash and cash equivalents,
835,560,865.12 1,024,088,626.40
beginning of the period
6. Cash and cash equivalents, end of the
3,191,923,351.69 2,290,543,688.54
period
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2019 Q1~Q3 2018
1. Cash flows from operating activities:
33
Proceeds from sale of commodities
4,685,243,331.72 3,141,049,319.18
and rendering of services
Tax rebates 4,448,500.00 4,523,679.80
Cash generated from other operating
659,722,935.80 710,469,125.62
activities
Subtotal of cash generated from
5,349,414,767.52 3,856,042,124.60
operating activities
Payments for commodities and
1,129,158,021.75 860,712,047.84
services
Cash paid to and for employees 503,962,356.85 415,612,241.11
Taxes paid 1,655,999,073.07 1,443,242,295.51
Cash used in other operating
248,287,619.33 183,422,505.37
activities
Subtotal of cash used in operating
3,537,407,071.00 2,902,989,089.83
activities
Net cash generated from/used in
1,812,007,696.52 953,053,034.77
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 1,811,640,054.88 1,616,531,449.45
Investment income 42,691,828.68 94,048,416.72
Net proceeds from disposal of fixed
assets, intangible assets and other 41,304.23 0.00
long-lived assets
Net proceeds from disposal of
subsidiaries or other business units
Cash generated from other investing
activities
Subtotal of cash generated from
1,854,373,187.79 1,710,579,866.17
investing activities
Payments for acquisition of fixed
assets, intangible assets and other 176,617,514.16 149,014,040.26
long-lived assets
Payments for investments 726,900,163.50 1,397,352,685.44
Net payments for acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
903,517,677.66 1,546,366,725.70
activities
Net cash generated from/used in
950,855,510.13 164,213,140.47
investing activities
34
3. Cash flows from financing activities:
Capital contributions received
Increase in borrowings obtained
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
Repayment of borrowings
Payments for interest and dividends 755,400,000.00 503,600,000.00
Cash used in other financing
activities
Subtotal of cash used in financing
755,400,000.00 503,600,000.00
activities
Net cash generated from/used in
-755,400,000.00 -503,600,000.00
financing activities
4. Effect of foreign exchange rate
changes on cash and cash equivalents
5. Net increase in cash and cash
2,007,463,206.65 613,666,175.24
equivalents
Add: Cash and cash equivalents,
708,172,917.59 826,262,109.02
beginning of the period
6. Cash and cash equivalents, end of the
2,715,636,124.24 1,439,928,284.26
period
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the Execution of any New Standards
Governing Financial Instruments, Revenue or Leases from 2019
√ Applicable □ Not applicable
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2018 1 January 2019 Adjusted
Current assets:
Monetary capital 1,705,760,865.12 1,705,760,865.12
Settlement reserve
Interbank loans granted
Trading financial assets 0.00 2,965,016,000.42 2,965,016,000.42
Financial assets at fair
622,892.96 0.00 -622,892.96
value through profit or loss
35
Derivative financial assets
Notes receivable 1,347,427,811.34 1,347,427,811.34
Accounts receivable 29,748,068.74 29,748,068.74
Accounts receivable
financing
Prepayments 182,558,000.75 182,558,000.75
Premiums receivable
Reinsurance receivables
Receivable reinsurance
contract reserve
Other receivables 43,342,878.22 43,342,878.22
Including: Interest
24,923,178.08 24,923,178.08
receivable
Dividends
receivable
Financial assets purchased
under resale agreements
Inventories 2,407,306,664.86 2,407,306,664.86
Contractual assets
Assets classified as held
for sale
Current portion of
300,000,000.00 300,000,000.00
non-current assets
Other current assets 3,012,478,687.20 254,478,687.20 -2,758,000,000.00
Total current assets 9,029,245,869.19 9,235,638,976.65 206,393,107.46
Non-current assets:
Loans and advances to
customers
Investments in debt
obligations
Available-for-sale financial
206,393,107.46 0.00 -206,393,107.46
assets
Investments in other debt
obligations
Held-to-maturity
investments
Long-term receivables
Long-term equity
4,900,000.00 4,900,000.00
investments
36
Investments in other equity
instruments
Other non-current financial
assets
Investment property 5,027,228.53 5,027,228.53
Fixed assets 1,763,988,530.56 1,763,988,530.56
Construction in progress 93,320,557.56 93,320,557.56
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 742,083,609.10 742,083,609.10
R&D expense
Goodwill 478,283,495.29 478,283,495.29
Long-term prepaid
83,561,473.46 83,561,473.46
expense
Deferred income tax assets 86,580,171.06 86,580,171.06
Other non-current assets 16,544,407.51 16,544,407.51
Total non-current assets 3,480,682,580.53 3,274,289,473.07 -206,393,107.46
Total assets 12,509,928,449.72 12,509,928,449.72
Current liabilities:
Short-term borrowings
Borrowings from central
bank
Interbank loans obtained
Trading financial liabilities
Financial liabilities at fair
value through profit or loss
Derivative financial
liabilities
Notes payable 349,203,413.72 349,203,413.72
Accounts payable 484,952,598.59 484,952,598.59
Advances from customers 1,149,143,310.48 1,149,143,310.48
Contractual liabilities
Financial assets sold under
repurchase agreements
Customer deposits and
interbank deposits
37
Payables for acting trading
of securities
Payables for underwriting
457,299,476.43 457,299,476.43
of securities
Payroll payable 372,993,624.18 372,993,624.18
Taxes payable 1,192,020,147.82 1,192,020,147.82
Other payables
Including: Interest
payable
Dividends
payable
Handling charges and
commissions payable
Reinsurance payables
Liabilities directly
associated with assets
classified as held for sale
Current portion of
non-current liabilities
Other current liabilities 295,164,745.44 295,164,745.44
Total current liabilities 4,300,777,316.66 4,300,777,316.66
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preferred
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 76,636,500.55 76,636,500.55
Deferred income tax
102,764,515.11 102,764,515.11
liabilities
Other non-current
liabilities
Total non-current liabilities 179,401,015.66 179,401,015.66
38
Total liabilities 4,480,178,332.32 4,480,178,332.32
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Including: Preferred
shares
Perpetual
bonds
Capital reserves 1,295,405,592.25 1,295,405,592.25
Less: Treasury stock
Other comprehensive
4,794,830.59 0.00 -4,794,830.59
income
Specific reserve
Surplus reserves 256,902,260.27 256,902,260.27
General reserve
Retained earnings 5,541,281,341.47 5,546,076,172.06 4,794,830.59
Total equity attributable to
owners of the Company as 7,601,984,024.58 7,601,984,024.58
the parent
Non-controlling interests 427,766,092.82 427,766,092.82
Total owners’ equity 8,029,750,117.40 8,029,750,117.40
Total liabilities and owners’
12,509,928,449.72 12,509,928,449.72
equity
Notes for the adjustment
Ministry of Finance has issued the Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of
Financial Instruments (CK[2017] No. 7), Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets
(CK[2017] No. 8), Accounting Standards for Business Enterprises No. 24 – Hedging Accounting (CK[2017] No. 9), and Accounting
Standards for Business Enterprises No. 37 – Presentation of Financial Instruments (CK[2017] No. 14) in 2017 after amendment, and
the Company has implemented the aforesaid new accounting standards from 1 January 2019. The previous comparative data of
financial statements inconsistent with the requirements of the new standards dispense with adjustments according to the new
standards governing financial instruments. The specific influenced items and the amount refer to the above adjustment report.
Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 December 2018 1 January 2019 Adjusted
Current assets:
Monetary capital 1,078,172,917.59 1,078,172,917.59
Trading financial assets 0.00 1,807,016,000.42 1,807,016,000.42
Financial assets at fair
622,892.96 0.00 -622,892.96
value through profit or loss
39
Derivative financial assets
Notes receivable 1,256,336,386.34 1,256,336,386.34
Accounts receivable 9,385,950.54 9,385,950.54
Accounts receivable
financing
Prepayments 10,869,911.54 10,869,911.54
Other receivables 110,800,665.19 110,800,665.19
Including: Interest
receivable
Dividends
receivable
Inventories 2,125,826,967.11 2,125,826,967.11
Contractual assets
Assets classified as held
for sale
Current portion of
non-current assets
Other current assets 1,764,267,968.83 164,267,968.83 -1,600,000,000.00
Total current assets 6,356,283,660.10 6,562,676,767.56 206,393,107.46
Non-current assets:
Investments in debt
obligations
Available-for-sale financial
206,393,107.46 0.00 -206,393,107.46
assets
Investments in other debt
obligations
Held-to-maturity
investments
Long-term receivables
Long-term equity
1,148,213,665.32 1,148,213,665.32
investments
Investments in other equity
instruments
Other non-current financial
assets
Investment property 24,715,657.40 24,715,657.40
Fixed assets 1,290,714,455.79 1,290,714,455.79
Construction in progress 86,634,753.93 86,634,753.93
40
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 189,968,142.25 189,968,142.25
R&D expense
Goodwill
Long-term prepaid
56,643,945.05 56,643,945.05
expense
Deferred income tax assets 37,415,458.17 37,415,458.17
Other non-current assets 12,474,026.00 12,474,026.00
Total non-current assets 3,053,173,211.37 2,846,780,103.91 -206,393,107.46
Total assets 9,409,456,871.47 9,409,456,871.47
Current liabilities:
Short-term borrowings
Trading financial liabilities
Financial liabilities at fair
value through profit or loss
Derivative financial
liabilities
Notes payable 28,648,913.72 28,648,913.72
Accounts payable 362,290,556.21 362,290,556.21
Advances from customers 1,123,125,892.84 1,123,125,892.84
Contractual liabilities
Payroll payable 117,748,485.96 117,748,485.96
Taxes payable 161,176,957.25 161,176,957.25
Other payables 372,902,293.22 372,902,293.22
Including: Interest
payable
Dividends
payable
Liabilities directly
associated with assets
classified as held for sale
Current portion of
non-current liabilities
Other current liabilities 32,605,794.55 32,605,794.55
Total current liabilities 2,198,498,893.75 2,198,498,893.75
41
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preferred
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term payroll payable
Provisions
Deferred income 36,417,554.85 36,417,554.85
Deferred income tax
4,828,737.52 4,828,737.52
liabilities
Other non-current
liabilities
Total non-current liabilities 41,246,292.37 41,246,292.37
Total liabilities 2,239,745,186.12 2,239,745,186.12
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Including: Preferred
shares
Perpetual
bonds
Capital reserves 1,247,162,107.35 1,247,162,107.35
Less: Treasury stock
Other comprehensive
4,794,830.59 0.00 -4,794,830.59
income
Specific reserve
Surplus reserves 251,800,000.00 251,800,000.00
Retained earnings 5,162,354,747.41 5,167,149,578.00 4,794,830.59
Total owners’ equity 7,169,711,685.35 7,169,711,685.35
Total liabilities and owners’
9,409,456,871.47 9,409,456,871.47
equity
Notes for the adjustment
Ministry of Finance has issued the Accounting Standards for Business Enterprises No. 22 - Recognition and Measurement of
Financial Instruments (CK[2017] No. 7), Accounting Standards for Business Enterprises No. 23 – Transfer of Financial Assets
42
(CK[2017] No. 8), Accounting Standards for Business Enterprises No. 24 – Hedging Accounting (CK[2017] No. 9), and Accounting
Standards for Business Enterprises No. 37 – Presentation of Financial Instruments (CK[2017] No. 14) in 2017 after amendment, and
the Company has implemented the aforesaid new accounting standards from 1 January 2019. The previous comparative data of
financial statements inconsistent with the requirements of the new standards dispense with adjustments according to the new
standards governing financial instruments. The specific influenced items and the amount refer to the above adjustment report.
2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New Standards
Governing Financial Instruments or Leases from 2019
□ Applicable √ Not applicable
III Independent Auditor’s Report
Indicate by tick mark whether the financial statements above have been audited by an independent auditor.
□Yes √ No
These financial statements have not been audited by such an auditor.
Chairman of the Board: (Liang Jinhui)
Anhui Gujing Distillery Company Limited
25 October 2019
43
