ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2020
October 2020
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
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 (hereinafter
referred to as the “Company”) hereby guarantee that the contents of this Report and its
summary are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions, and collectively and individually accept legal responsibility
for such contents.
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
truthful, 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.
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Part II Key Corporate Information
I Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below due to changes of accounting policies and
correction of accounting errors .
□ Yes √ No
30 September 2020 31 December 2019 Change (%)
Total assets (RMB) 14,982,605,356.77 13,871,297,363.16 8.01%
Equity attributable to the listed
9,726,392,768.50 8,944,111,764.44 8.75%
company’s shareholders (RMB)
Q3 2020 YoY change (%) Q1-Q3 2020 YoY change (%)
Operating revenue (RMB) 2,549,799,986.43 15.13% 8,069,420,987.05 -1.63%
Net profit attributable to the listed
512,744,399.70 3.94% 1,537,681,004.06 -11.71%
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before
493,142,445.93 10.97% 1,501,061,314.45 -6.79%
exceptional gains and losses
(RMB)
Net cash generated from/used in
238,222,085.94 -80.14% 2,579,860,186.58 15.10%
operating activities (RMB)
Basic earnings per share
1.02 4.08% 3.05 -11.85%
(RMB/share)
Diluted earnings per share
1.02 4.08% 3.05 -11.85%
(RMB/share)
Weighted average return on equity
5.73% -1.22% 16.25% -4.93%
(%)
Unit: RMB
Item Q1-Q3 2020 Note
Gain or loss on disposal of non-current assets (inclusive of
-1,831,774.42
impairment allowance write-offs)
Government grants through profit or loss (exclusive of government
grants given in the Company’s ordinary course of business at fixed 23,658,321.57
quotas or amounts as per the government’s uniform standards)
Gain or loss on fair-value changes on held-for-trading and
derivative financial assets and liabilities & income from disposal of 16,481,279.44
held-for-trading and derivative financial assets and liabilities and
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
other debt investments (exclusive of the effective portion of hedges
that arise in the Company’s ordinary course of business)
Non-operating income and expense other than the above 13,810,052.22
Less: Income tax effects 12,878,092.00
Non-controlling interests effects (net of tax) 2,620,097.20
Total 36,619,689.61 --
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 of Them as at the End of the
Reporting Period
1. Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preference
Number of ordinary shareholders 31,889 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders
Name of Nature of Shareholding Restricted shares Shares in pledge or frozen
Total shares held
shareholder shareholder percentage held Status Shares
ANHUI GUJING
GROUP State-owned
53.89% 271,404,022 In pledge 114,000,000
COMPANY corporation
LIMITED
GAOLING Foreign
2.47% 12,446,408
FUND,L.P. corporation
AGRICULTURA
L BANK OF
CHINA- E
FUND
CONSUMPTION Other 1.84% 9,244,356
SECTOR
STOCK
SECURITIES
INVESTMENT
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
FUND
CHINA INT'L
CAPITAL CORP
Foreign
HONG KONG 1.77% 8,935,752
corporation
SECURITIES
LTD
UBS (LUX)
EQUITY FUND -
Foreign
CHINA 1.40% 7,048,161
corporation
OPPORTUNITY
(USD)
CENTRAL
HUIJIN ASSET State-owned
1.30% 6,543,600
MANAGEMENT corporation
CO., LTD.
HONG KONG
SECURITIES Foreign
1.20% 6,038,008
CLEARING corporation
COMPANY LTD.
INDUSTRIAL
AND
COMMERCIAL
BANK OF
CHINA
LIMITED-JINGS
HUN
Other 1.07% 5,399,890
GREATWALL
EMERGING
GROWTH
HYBRID
SECURITIES
INVESTMENT
FUND
BANK OF
CHINA
LIMITED-CHIN
A MERCHANTS
CHINA Other 0.95% 4,805,671
SECURITIES
LIQUOR INDEX
CLASSIFICATI
ON
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
SECURITIES
INVESTMENT
FUND
GREENWOODS
Foreign
CHINA ALPHA 0.92% 4,614,326
corporation
MASTER FUND
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
ANHUI GUJING GROUP RMB-denominate
271,404,022 271,404,022
COMPANY LIMITED d ordinary share
Domestically
GAOLING FUND,L.P. 12,446,408 listed foreign 12,446,408
share
AGRICULTURAL BANK OF
CHINA- E FUND CONSUMPTION RMB-denominate
9,244,356 9,244,356
SECTOR STOCK SECURITIES d ordinary share
INVESTMENT FUND
Domestically
CHINA INT'L CAPITAL CORP
8,935,752 listed foreign 8,935,752
HONG KONG SECURITIES LTD
share
Domestically
UBS (LUX) EQUITY FUND -
7,048,161 listed foreign 7,048,161
CHINA OPPORTUNITY (USD)
share
CENTRAL HUIJIN ASSET RMB-denominate
6,543,600 6,543,600
MANAGEMENT CO., LTD. d ordinary share
HONG KONG SECURITIES RMB-denominate
6,038,008 6,038,008
CLEARING COMPANY LTD. d ordinary share
INDUSTRIAL AND
COMMERCIAL BANK OF CHINA
LIMITED-JINGSHUN RMB-denominate
5,399,890 5,399,890
GREATWALL EMERGING d ordinary share
GROWTH HYBRID SECURITIES
INVESTMENT FUND
BANK OF CHINA
LIMITED-CHINA MERCHANTS
CHINA SECURITIES LIQUOR RMB-denominate
4,805,671 4,805,671
INDEX CLASSIFICATION d ordinary share
SECURITIES INVESTMENT
FUND
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Domestically
GREENWOODS CHINA ALPHA
4,614,326 listed foreign 4,614,326
MASTER FUND
share
Among the shareholders above, the Company’s controlling shareholder—Anhui Gujing
Group Company Limited—is not a related 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 the shareholders above
does not know whether they are related 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 shareholders engaged in
N/A
securities margin trading (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 Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Part III Significant Events
I Changes in Key Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
30 September 31 December 2019
Balance sheet items Change (%) Main reason for change
2020 (RMB) (RMB)
Held-for-trading Disinvestment in wealth management product
231,879,146.44 509,031,097.02 -54.45%
financial assets upon maturity
Notes receivable 1,711,528,281.95 1,004,217,431.56 70.43% Increase in bank acceptance bills received
Use of prepayment for advertising service as part
Prepayments 121,190,007.83 197,453,313.96 -38.62%
of settlement
Other receivables 39,475,707.94 25,746,957.22 53.32% Increase in prepayment for marketing service
Increases in investments in infrastructure and IT
Construction in progress 285,451,235.87 183,984,816.07 55.15%
system
Notes payable 338,710,000.00 703,679,646.86 -51.87% Maturity of trade bill issued
Other current liabilities 267,972,091.29 197,484,121.41 35.69% Increase in accrued expense
Short-term borrowings 70,325,500.00 0.00 -- Bank loan received by Yellow Crane Tower
Income statement items Q1-Q3 2020 Q1-Q3 2019
Change (%) Main reason for change
(Q1-Q3) (RMB) (RMB)
Finance costs -139,117,509.97 -24,851,526.01 -459.79% Increase in interest income
Other income 23,491,542.76 44,662,596.55 -47.40% Decrease in tax and levy rebates
Non-operating expense 24,806,037.98 3,051,449.71 712.93% Increase in donations in relation to the pandemic
Cash flow statement Q1-Q3 2020 Q1-Q3 2019
Change (%) Main reason for change
items (Q1-Q3) (RMB) (RMB)
Net cash generated
from/used in investing -126,991,061.44 870,390,981.81 -114.59% Decrease in payments for investments
activities
II Progress, Influence and Solutions in respect of Significant Events
□ Applicable √ Not applicable
Progress of any share repurchase:
□ Applicable √ Not applicable
Progress of any reduction of the repurchased shares through centralized bidding:
□ Applicable √ Not applicable
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,
Acquirers, the Company Itself or Other Relevant Parties, Failed to Fulfill on Time during the
Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
IV Financial Investments
1. Securities Investments
√ Applicable □ Not applicable
Unit: RMB
Gain/loss on Cumulative
Purchased Gain/loss
Accounting Opening fair-value fair-value Sold in the Closing
Type of Code of Name of Initial in the in the Funding
measurement carrying changes in changes current carrying Accounting title
securities securities securities investment cost current current source
method amount the current through period amount
period period
period equity
ZXYSDP
Asset
1st Assets Fair value Held-for-trading
management 200,000,000.00 211,884,505.24 9,994,641.20 0.00 0.00 0.00 0.00 221,879,146.44 Self-funded
Management method financial assets
plan
Plan
Other securities investment held at
0.00 -- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -- --
the period-end
Total 200,000,000.00 -- 211,884,505.24 9,994,641.20 0.00 0.00 0.00 0.00 221,879,146.44 -- --
Disclosure date of the
announcement on the Board’s Naught
approval of securities investments
Disclosure date of the
announcement on the general
Naught
meeting’s approval of securities
investments (if any)
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
2. Investments in Derivative Financial Instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
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
repurchase 29 April 11 October
No No repurchase of 0.00 0.00 4,179.80 2,180 0.00 1,999.80 0.21% 0.55
of national 2020 2020
national debt
debt
Total 0.00 -- -- 0.00 4,179.80 2,180 0.00 1,999.80 0.21% 0.55
Funding source Self-funded
Legal matters involved (if applicable) N/A
Disclosure date of board announcement approving
30 August 2013
derivative investment (if any)
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
Naught
investments in Reporting Period (fair value analysis
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
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.
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
V Progress of Projects Financed with Raised Funds
□ Applicable √ Not applicable
VI 2020 Annual Operating Performance Forecast
Warning of a forecast loss on or a forecast significant year-on-year change in the 2020 annual net profit, as well as explanation of
why:
□ Applicable √ Not applicable
VII Significant Contracts Arising from the Company’s Ordinary Course of Business
□ Applicable √ Not applicable
VIII Cash Entrusted for Wealth Management
√ Applicable □ Not applicable
Unit: RMB’0,000
Unrecovered overdue
Type Funding source Amount Undue amount
amount
Other Self-funded 20,000 20,000 0.00
Bank’s wealth
Idle raised funds 2,300 1,000 0.00
management product
Total 22,300 21,000 0.00
High-risk wealth management transactions with a significant single amount, or with low security, low liquidity or no principal
protection:
√ Applicable □ Not applicable
Recov
Actual ery of Throug Summa
Refere
Type of Expec gain/loss the Impair h Any ry and
Type St En Investm Way nce
wealth Principal Fundin ted in the gain/l ment prescri plan for index
of art d ent with of annual
Trustee manage (RMB’0, g return Reportin oss in allowa bed further to more
truste dat da principa payb ized
ment 000) source (if g Period the nce (if proced transact informa
e e te l ack rate of
product any) (RMB’0, Repor any) ures or ions tion (if
return
000) ting not any)
Period
CITIC Purchas 1.2%
Comp Asset
Wings ing new of
any manage Self-fu
Asset 20,000 shares the 6.00% 0.00 N/A 0.00 Yes Yes
Limit ment nded
Manage offline, net
ed plan
ment fixed value
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Compan income of
y instrum prod
Limited ents, uct
and and
Reverse 20%
repurch of
ase of exces
national s
debt, earni
etc ngs
Total 20,000 -- -- -- -- -- -- 0.00 -- 0.00 -- -- --
Wealth management entrustments with possible impairments including an expectedly unrecoverable principal:
□ Applicable √ Not applicable
IX Irregularities in the Provision of Guarantees
□ Applicable √ Not applicable
No such cases in the Reporting Period.
X Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related
Parties for Non-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
XI Communications with the Investment Community such as Researches, Inquiries and
Interviews Received during the Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited
30 September 2020
Unit: RMB
Item 30 September 2020 31 December 2019
Current assets:
Monetary assets 6,293,975,367.62 5,619,749,918.09
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 231,879,146.44 509,031,097.02
Derivative financial assets
Notes receivable 1,711,528,281.95 1,004,217,431.56
Accounts receivable 45,366,345.41 40,776,567.96
Receivables financing
Prepayments 121,190,007.83 197,453,313.96
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 39,475,707.94 25,746,957.22
Including: Interest receivable 8,744,042.43 1,908,788.81
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 2,954,002,324.75 3,015,051,961.78
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 87,912,663.81 114,439,167.07
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Total current assets 11,485,329,845.75 10,526,466,414.66
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 4,601,354.63 4,678,282.24
Investments in other equity
instruments
Other non-current financial assets
Investment property 4,472,229.16 4,710,086.02
Fixed assets 1,659,795,843.32 1,722,572,998.79
Construction in progress 285,451,235.87 183,984,816.07
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 898,381,389.54 785,717,932.76
Development costs
Goodwill 478,283,495.29 478,283,495.29
Long-term prepaid expense 57,135,831.45 70,240,106.82
Deferred income tax assets 108,580,105.76 90,494,544.51
Other non-current assets 574,026.00 4,148,686.00
Total non-current assets 3,497,275,511.02 3,344,830,948.50
Total assets 14,982,605,356.77 13,871,297,363.16
Current liabilities:
Short-term borrowings 70,325,500.00 0.00
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 338,710,000.00 703,679,646.86
Accounts payable 441,523,640.81 563,494,195.40
Advances from customers 0.00 529,863,011.73
Contract liabilities 847,011,253.43 0.00
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Financial assets sold under
repurchase agreements
Customer deposits and deposits from
other banks and financial institutions
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 330,730,138.08 454,189,532.89
Taxes and levies payable 656,605,964.86 482,903,109.59
Other payables 1,707,847,647.25 1,315,878,229.01
Including: Interest payable
Dividends payable 7,733,888.61 0.00
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities 267,972,091.29 197,484,121.41
Total current liabilities 4,660,726,235.72 4,247,491,846.89
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 73,542,181.50 72,778,437.92
Deferred income tax liabilities 114,809,029.38 118,872,366.61
Other non-current liabilities
Total non-current liabilities 188,351,210.88 191,650,804.53
Total liabilities 4,849,077,446.60 4,439,142,651.42
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 1,295,405,592.25 1,295,405,592.25
Less: Treasury stock
Other comprehensive income
Specific reserve
Surplus reserves 256,902,260.27 256,902,260.27
General reserve
Retained earnings 7,670,484,915.98 6,888,203,911.92
Total equity attributable to owners of
9,726,392,768.50 8,944,111,764.44
the Company as the parent
Non-controlling interests 407,135,141.67 488,042,947.30
Total owners’ equity 10,133,527,910.17 9,432,154,711.74
Total liabilities and owners’ equity 14,982,605,356.77 13,871,297,363.16
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 2020 31 December 2019
Current assets:
Monetary assets 3,643,192,827.11 2,919,818,830.20
Held-for-trading financial assets 221,879,146.44 489,861,097.02
Derivative financial assets
Notes receivable 1,510,421,883.85 378,740,100.82
Accounts receivable 1,520,326.45 218,558,555.07
Receivables financing
Prepayments 60,272,598.51 17,906,999.63
Other receivables 192,807,687.89 125,219,213.84
Including: Interest receivable 348,333.33 301,888.89
Dividends receivable 78,885,663.84 0.00
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Inventories 2,569,307,602.07 2,688,839,871.27
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets 0.00 1,280,998.32
Total current assets 8,199,402,072.32 6,840,225,666.17
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 1,118,213,665.32 1,148,213,665.32
Investments in other equity
instruments
Other non-current financial assets
Investment property 4,472,229.16 4,710,086.02
Fixed assets 1,206,955,659.09 1,310,704,771.36
Construction in progress 156,349,177.59 84,477,784.02
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 364,509,678.13 243,928,047.95
Development costs
Goodwill
Long-term prepaid expense 35,645,067.09 48,354,967.15
Deferred income tax assets 24,216,270.13 31,360,809.87
Other non-current assets 574,026.00 574,026.00
Total non-current assets 2,910,935,772.51 2,872,324,157.69
Total assets 11,110,337,844.83 9,712,549,823.86
Current liabilities:
Short-term borrowings
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 0.00 49,114,582.04
Accounts payable 359,205,165.70 450,303,984.53
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Advances from customers 0.00 31,724.77
Contract liabilities 1,188,637,475.97 0.00
Employee benefits payable 97,624,992.96 100,357,808.20
Taxes and levies payable 424,094,805.85 371,012,223.50
Other payables 338,326,745.27 274,053,511.54
Including: Interest payable
Dividends payable
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities 92,322.24 11,953,800.20
Total current liabilities 2,407,981,507.99 1,256,827,634.78
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 30,960,138.38 33,229,246.47
Deferred income tax liabilities 19,829,559.43 22,799,814.64
Other non-current liabilities
Total non-current liabilities 50,789,697.81 56,029,061.11
Total liabilities 2,458,771,205.80 1,312,856,695.89
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 1,247,162,107.35 1,247,162,107.35
Less: Treasury stock
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Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Other comprehensive income
Specific reserve
Surplus reserves 251,800,000.00 251,800,000.00
Retained earnings 6,649,004,531.68 6,397,131,020.62
Total owners’ equity 8,651,566,639.03 8,399,693,127.97
Total liabilities and owners’ equity 11,110,337,844.83 9,712,549,823.86
3. Consolidated Income Statement for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Revenues 2,549,799,986.43 2,214,767,350.88
Including: Operating revenue 2,549,799,986.43 2,214,767,350.88
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 1,885,809,871.45 1,606,834,684.29
Including: Cost of sales 624,152,232.61 549,495,046.47
Interest expense
Fee and commission
expense
Surrenders
Net insurance claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and levies 402,468,055.08 339,483,400.01
Selling expense 748,923,289.65 572,186,624.20
Administrative expense 172,014,543.60 155,163,347.70
Development costs 9,160,792.54 11,055,166.62
Finance costs -70,909,042.03 -20,548,900.71
Including: Interest
2,545,311.69 12,839,179.18
expense
Interest 73,877,260.84 31,759,206.44
20
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
income
Add: Other income 8,517,189.10 13,878,677.87
Return on investment (“-” for loss) -22,742.18 28,665,355.29
Including: Share of profit or loss
-23,296.27 34,369.53
of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
1,614,210.03 5,994,298.28
for loss)
Credit impairment loss (“-” for
72,803.53 0.00
loss)
Asset impairment loss (“-” for loss) 0.00 159,351.46
Asset disposal income (“-” for
652,222.96 103,277.91
loss)
3. Operating profit (“-” for loss) 674,823,798.42 656,733,627.40
Add: Non-operating income 15,645,842.84 14,398,366.14
Less: Non-operating expense 532,381.49 1,313,838.64
4. Gross profit (“-” for loss) 689,937,259.77 669,818,154.90
Less: Income tax expense 163,813,479.88 163,503,787.54
5. Net profit (“-” for net loss) 526,123,779.89 506,314,367.36
5.1 By operating continuity
5.1.1 Net profit from continuing
526,123,779.89 506,314,367.36
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
512,744,399.70 493,294,846.62
owners of the Company as the parent
5.2.2 Net profit attributable to
13,379,380.19 13,019,520.74
non-controlling interests
6. Other comprehensive income, net of
tax
Attributable to owners of the Company
as the parent
6.1 Items that will not be
21
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
profit or loss under the equity method
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
profit or loss
6.2.1 Other comprehensive
income that will be reclassified to profit
or loss under the equity method
6.2.2 Changes in the fair value of
other debt investments
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
6.2.4 Credit impairment
allowance for other debt investments
6.2.5 Reserve for cash flow
hedges
6.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
6.2.7 Other
Attributable to non-controlling
interests
7. Total comprehensive income 526,123,779.89 506,314,367.36
Attributable to owners of the Company
512,744,399.70 493,294,846.62
as the parent
Attributable to non-controlling
13,379,380.19 13,019,520.74
interests
8. Earnings per share
8.1 Basic earnings per share 1.02 0.98
8.2 Diluted earnings per share 1.02 0.98
Legal representative: Liang Jinhui The Company’s chief accountant: Ye Changqing
22
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Head of the Company’s financial department: Zhu Jiafeng
4. Income Statement of the Company as the Parent for Q3
Unit: RMB
Item Q3 2020 Q3 2019
1. Operating revenue 1,387,535,259.17 1,194,365,169.31
Less: Cost of sales 572,200,698.23 502,553,273.90
Taxes and levies 352,722,983.29 293,611,844.72
Selling expense 11,494,246.34 12,543,759.60
Administrative expense 106,775,670.23 106,708,524.92
Development costs 6,421,594.47 7,250,613.44
Finance costs -26,982,481.92 -17,982,297.10
Including: Interest expense 2,325,064.20 12,839,179.18
Interest income 29,683,102.10 30,860,960.92
Add: Other income 3,057,470.72 6,167,148.89
Return on investment (“-” for
70,774,329.09 10,800,845.34
loss)
Including: Share of profit or
loss of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
1,614,210.03 5,994,298.28
for loss)
Credit impairment loss (“-” for
92,587.48 0.00
loss)
Asset impairment loss (“-” for
loss)
Asset disposal income (“-” for
loss)
2. Operating profit (“-” for loss) 440,441,145.85 312,641,742.34
Add: Non-operating income 8,019,024.83 11,030,693.23
Less: Non-operating expense 178,303.58 825,676.96
3. Gross profit (“-” for loss) 448,281,867.10 322,846,758.61
Less: Income tax expense 89,854,575.45 80,711,689.66
23
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
4. Net profit (“-” for net loss) 358,427,291.65 242,135,068.95
4.1 Net profit from continuing
358,427,291.65 242,135,068.95
operations (“-” for net loss)
4.2 Net profit from discontinued
operations (“-” for net loss)
5. Other comprehensive income, net of
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
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
arising from changes in own credit risk
5.1.5 Other
5.2 Items that will be reclassified to
profit or loss
5.2.1 Other comprehensive income
that will be reclassified to profit or loss
under the equity method
5.2.2 Changes in the fair value of
other debt investments
5.2.3 Other comprehensive income
arising from the reclassification of
financial assets
5.2.4 Credit impairment allowance
for other debt investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.7 Other
6. Total comprehensive income 358,427,291.65 242,135,068.95
7. Earnings per share
7.1 Basic earnings per share 0.71 0.48
24
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
7.2 Diluted earnings per share 0.71 0.48
5. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Revenues 8,069,420,987.05 8,202,880,349.97
Including: Operating revenue 8,069,420,987.05 8,202,880,349.97
Interest income
Insurance premium income
Fee and commission
income
2. Costs and expenses 6,048,515,730.11 6,023,415,690.08
Including: Cost of sales 1,938,077,825.09 1,943,651,781.02
Interest expense
Fee and commission
expense
Surrenders
Net insurance claims paid
Net amount provided as
insurance contract reserve
Expenditure on policy
dividends
Reinsurance premium
expense
Taxes and levies 1,290,465,095.80 1,209,011,162.05
Selling expense 2,366,972,926.92 2,412,676,063.90
Administrative expense 567,702,216.75 457,208,804.83
Development costs 24,415,175.52 25,719,404.29
Finance costs -139,117,509.97 -24,851,526.01
Including: Interest
31,518,587.66 27,013,151.27
expense
Interest
170,768,434.29 52,225,855.46
income
Add: Other income 23,491,542.76 44,662,596.55
Return on investment (“-” for loss) 18,463,230.02 106,012,402.82
Including: Share of profit or loss
-76,927.61 -130,624.66
of joint ventures and associates
25
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Exchange gain (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
-1,981,950.58 17,314,643.84
for loss)
Credit impairment loss (“-” for
-315,641.04 -317,217.94
loss)
Asset impairment loss (“-” for loss) -5,693,185.77 -5,945,248.67
Asset disposal income (“-” for
730,090.21 222,766.47
loss)
3. Operating profit (“-” for loss) 2,055,599,342.54 2,341,414,602.96
Add: Non-operating income 36,221,004.38 25,549,129.67
Less: Non-operating expense 24,806,037.98 3,051,449.71
4. Gross profit (“-” for loss) 2,067,014,308.94 2,363,912,282.92
Less: Income tax expense 534,449,002.12 582,649,191.85
5. Net profit (“-” for net loss) 1,532,565,306.82 1,781,263,091.07
5.1 By operating continuity
5.1.1 Net profit from continuing
1,532,565,306.82 1,781,263,091.07
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
1,537,681,004.06 1,741,611,160.63
owners of the Company as the parent
5.2.2 Net profit attributable to
-5,115,697.24 39,651,930.44
non-controlling interests
6. Other comprehensive income, net of
tax
Attributable to owners of the Company
as the parent
6.1 Items that will not be
reclassified to profit or loss
6.1.1 Changes caused by
remeasurements on defined benefit
schemes
6.1.2 Other comprehensive
income that will not be reclassified to
26
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
profit or loss under the equity method
6.1.3 Changes in the fair value of
investments in other equity instruments
6.1.4 Changes in the fair value
arising from changes in own credit risk
6.1.5 Other
6.2 Items that will be reclassified to
profit or loss
6.2.1 Other comprehensive
income that will be reclassified to profit
or loss under the equity method
6.2.2 Changes in the fair value of
other debt investments
6.2.3 Other comprehensive
income arising from the reclassification
of financial assets
6.2.4 Credit impairment
allowance for other debt investments
6.2.5 Reserve for cash flow
hedges
6.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
6.2.7 Other
Attributable to non-controlling
interests
7. Total comprehensive income 1,532,565,306.82 1,781,263,091.07
Attributable to owners of the Company
1,537,681,004.06 1,741,611,160.63
as the parent
Attributable to non-controlling
-5,115,697.24 39,651,930.44
interests
8. Earnings per share
8.1 Basic earnings per share 3.05 3.46
8.2 Diluted earnings per share 3.05 3.46
Legal representative: Liang Jinhui The Company’s chief accountant: Ye Changqing
Head of the Company’s financial department: Zhu Jiafeng
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
27
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Item Q1~Q3 2020 Q1~Q3 2019
1. Operating revenue 4,684,652,431.66 4,339,047,632.89
Less: Cost of sales 1,889,259,961.85 1,780,471,850.81
Taxes and levies 1,179,453,881.90 1,058,210,690.84
Selling expense 34,395,594.76 58,430,231.41
Administrative expense 394,484,033.50 309,366,786.60
Development costs 15,559,553.84 16,286,743.25
Finance costs -71,779,253.18 -20,041,354.26
Including: Interest expense 30,614,046.49 26,846,026.27
Interest income 102,838,354.42 48,601,883.96
Add: Other income 7,680,201.83 9,539,867.14
Return on investment (“-” for
83,208,919.30 42,684,714.10
loss)
Including: Share of profit or
loss of joint ventures and associates
Income from the
derecognition of financial assets at
amortized cost (“-” for loss)
Net gain on exposure hedges (“-”
for loss)
Gain on changes in fair value (“-”
-1,981,950.58 17,314,643.84
for loss)
Credit impairment loss (“-” for
633,332.60 -186,067.78
loss)
Asset impairment loss (“-” for
-5,693,185.77 -5,945,248.67
loss)
Asset disposal income (“-” for
60,176.99 36,552.41
loss)
2. Operating profit (“-” for loss) 1,327,186,153.36 1,199,767,145.28
Add: Non-operating income 23,220,421.09 20,373,416.46
Less: Non-operating expense 20,667,158.59 2,050,990.73
3. Gross profit (“-” for loss) 1,329,739,415.86 1,218,089,571.01
Less: Income tax expense 322,465,904.80 291,973,758.82
4. Net profit (“-” for net loss) 1,007,273,511.06 926,115,812.19
4.1 Net profit from continuing
1,007,273,511.06 926,115,812.19
operations (“-” for net loss)
4.2 Net profit from discontinued
operations (“-” for net loss)
28
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
5. Other comprehensive income, net of
tax
5.1 Items that will not be reclassified
to profit or loss
5.1.1 Changes caused by
remeasurements on defined benefit
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
arising from changes in own credit risk
5.1.5 Other
5.2 Items that will be reclassified to
profit or loss
5.2.1 Other comprehensive income
that will be reclassified to profit or loss
under the equity method
5.2.2 Changes in the fair value of
other debt investments
5.2.3 Other comprehensive income
arising from the reclassification of
financial assets
5.2.4 Credit impairment allowance
for other debt investments
5.2.5 Reserve for cash flow hedges
5.2.6 Differences arising from the
translation of foreign
currency-denominated financial
statements
5.2.7 Other
6. Total comprehensive income 1,007,273,511.06 926,115,812.19
7. Earnings per share
7.1 Basic earnings per share 2.00 1.84
7.2 Diluted earnings per share 2.00 1.84
7. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
29
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities
8,647,831,451.67 8,252,482,399.40
and rendering of services
Net increase in customer deposits and
deposits from other banks and financial
institutions
Net increase in borrowings from the
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, fees and commissions
received
Net increase in loans from other
banks and financial institutions
Net increase in proceeds from
repurchase transactions
Net proceeds from acting trading of
securities
Tax and levy rebates 3,381,080.29 20,674,445.06
Cash generated from other operating
2,308,969,284.28 711,377,701.47
activities
Subtotal of cash generated from
10,960,181,816.24 8,984,534,545.93
operating activities
Payments for commodities and
1,792,820,288.01 1,579,978,848.34
services
Net increase in loans and advances to
customers
Net increase in deposits in the central
bank and other banks and financial
institutions
Payments for claims on original
insurance contracts
Net increase in loans to other banks
and financial institutions
Interest, fees and commissions paid
Policy dividends paid
30
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Cash paid to and for employees 1,893,631,550.54 1,445,715,909.31
Taxes and levies paid 2,454,548,768.00 2,674,734,494.33
Cash used in other operating
2,239,321,023.11 1,042,733,789.19
activities
Subtotal of cash used in operating
8,380,321,629.66 6,743,163,041.17
activities
Net cash generated from/used in
2,579,860,186.58 2,241,371,504.76
operating activities
2. Cash flows from investing activities:
Proceeds from disinvestment 319,970,000.00 3,337,200,054.88
Return on investment 18,539,603.54 131,076,489.02
Net proceeds from the disposal of
fixed assets, intangible assets and other 1,932,156.95 294,196.00
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
340,441,760.49 3,468,570,739.90
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other 402,634,821.93 242,619,594.59
long-lived assets
Payments for investments 64,798,000.00 2,355,560,163.50
Net increase in pledged loans granted
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
467,432,821.93 2,598,179,758.09
activities
Net cash generated from/used in
-126,991,061.44 870,390,981.81
investing activities
3. Cash flows from financing activities:
Capital contributions received
Including: Capital contributions by
non-controlling interests to subsidiaries
Borrowings received 70,325,500.00 0.00
Cash generated from other financing
activities
Subtotal of cash generated from 70,325,500.00 0.00
31
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
financing activities
Repayment of borrowings
Interest and dividends paid 823,969,175.61 755,400,000.00
Including: Dividends paid by
68,058,219.79 0.00
subsidiaries to non-controlling interests
Cash used in other financing
activities
Subtotal of cash used in financing
823,969,175.61 755,400,000.00
activities
Net cash generated from/used in
-753,643,675.61 -755,400,000.00
financing activities
4. Effect of foreign exchange rates
changes on cash and cash equivalents
5. Net increase in cash and cash
1,699,225,449.53 2,356,362,486.57
equivalents
Add: Cash and cash equivalents,
2,944,749,918.09 835,560,865.12
beginning of the period
6. Cash and cash equivalents, end of the
4,643,975,367.62 3,191,923,351.69
period
8. Cash Flow Statement of the Company as the Parent for Q1~Q3
Unit: RMB
Item Q1~Q3 2020 Q1~Q3 2019
1. Cash flows from operating activities:
Proceeds from sale of commodities
5,538,315,335.29 4,685,243,331.72
and rendering of services
Tax and levy rebates 4,448,500.00
Cash generated from other operating
1,351,067,223.50 659,722,935.80
activities
Subtotal of cash generated from
6,889,382,558.79 5,349,414,767.52
operating activities
Payments for commodities and
1,645,078,712.99 1,129,158,021.75
services
Cash paid to and for employees 630,017,481.25 503,962,356.85
Taxes and levies paid 1,841,118,490.88 1,655,999,073.07
Cash used in other operating
510,431,619.37 248,287,619.33
activities
Subtotal of cash used in operating
4,626,646,304.49 3,537,407,071.00
activities
Net cash generated from/used in
2,262,736,254.30 1,812,007,696.52
operating activities
32
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
2. Cash flows from investing activities:
Proceeds from disinvestment 287,800,000.00 1,811,640,054.88
Return on investment 12,434,590.21 42,691,828.68
Net proceeds from the disposal of
fixed assets, intangible assets and other 68,000.00 41,304.23
long-lived assets
Net proceeds from the disposal of
subsidiaries and other business units
Cash generated from other investing
activities
Subtotal of cash generated from
300,302,590.21 1,854,373,187.79
investing activities
Payments for the acquisition of fixed
assets, intangible assets and other 222,464,847.60 176,617,514.16
long-lived assets
Payments for investments 21,800,000.00 726,900,163.50
Net payments for the acquisition of
subsidiaries and other business units
Cash used in other investing
activities
Subtotal of cash used in investing
244,264,847.60 903,517,677.66
activities
Net cash generated from/used in
56,037,742.61 950,855,510.13
investing activities
3. Cash flows from financing activities:
Capital contributions received
Borrowings received
Cash generated from other financing
activities
Subtotal of cash generated from
financing activities
Repayment of borrowings
Interest and dividends paid 755,400,000.00 755,400,000.00
Cash used in other financing
activities
Subtotal of cash used in financing
755,400,000.00 755,400,000.00
activities
Net cash generated from/used in
-755,400,000.00 -755,400,000.00
financing activities
4. Effect of foreign exchange rates
changes on cash and cash equivalents
33
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
5. Net increase in cash and cash
1,563,373,996.91 2,007,463,206.65
equivalents
Add: Cash and cash equivalents,
2,079,818,830.20 708,172,917.59
beginning of the period
6. Cash and cash equivalents, end of the
3,643,192,827.11 2,715,636,124.24
period
II Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year (2020) of the New
Accounting Standards Governing Revenue and Leases
√ Applicable □ Not applicable
Whether the Company needs to adjust items in balance sheet at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
Item 31 December 2019 1 January 2020 Adjusted
Current assets:
Monetary assets 5,619,749,918.09 5,619,749,918.09
Settlement reserve
Loans to other banks and
financial institutions
Held-for-trading financial
509,031,097.02 509,031,097.02
assets
Derivative financial assets
Notes receivable 1,004,217,431.56 1,004,217,431.56
Accounts receivable 40,776,567.96 40,776,567.96
Receivables financing
Prepayments 197,453,313.96 197,453,313.96
Premiums receivable
Reinsurance receivables
Receivable reinsurance
contract reserve
Other receivables 25,746,957.22 25,746,957.22
Including: Interest
1,908,788.81 1,908,788.81
receivable
Dividends
receivable
34
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Financial assets purchased
under resale agreements
Inventories 3,015,051,961.78 3,015,051,961.78
Contract assets
Assets held for sale
Current portion of
non-current assets
Other current assets 114,439,167.07 114,439,167.07
Total current assets 10,526,466,414.66 10,526,466,414.66
Non-current assets:
Loans and advances to
customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity
4,678,282.24 4,678,282.24
investments
Investments in other equity
instruments
Other non-current financial
assets
Investment property 4,710,086.02 4,710,086.02
Fixed assets 1,722,572,998.79 1,722,572,998.79
Construction in progress 183,984,816.07 183,984,816.07
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 785,717,932.76 785,717,932.76
Development costs
Goodwill 478,283,495.29 478,283,495.29
Long-term prepaid
70,240,106.82 70,240,106.82
expense
Deferred income tax assets 90,494,544.51 90,494,544.51
Other non-current assets 4,148,686.00 4,148,686.00
Total non-current assets 3,344,830,948.50 3,344,830,948.50
Total assets 13,871,297,363.16 13,871,297,363.16
Current liabilities:
35
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Short-term borrowings
Borrowings from the
central bank
Loans from other banks
and financial institutions
Held-for-trading financial
liabilities
Derivative financial
liabilities
Notes payable 703,679,646.86 703,679,646.86
Accounts payable 563,494,195.40 563,494,195.40
Advances from customers 529,863,011.73 0.00 -529,863,011.73
Contract liabilities 0.00 529,863,011.73 529,863,011.73
Financial assets sold under
repurchase agreements
Customer deposits and
deposits from other banks
and financial institutions
Payables for acting trading
of securities
Payables for underwriting
of securities
Employee benefits payable 454,189,532.89 454,189,532.89
Taxes and levies payable 482,903,109.59 482,903,109.59
Other payables 1,315,878,229.01 1,315,878,229.01
Including: Interest
payable
Dividends
payable
Fees and commissions
payable
Reinsurance payables
Liabilities directly
associated with assets held
for sale
Current portion of
non-current liabilities
Other current liabilities 197,484,121.41 197,484,121.41
Total current liabilities 4,247,491,846.89 4,247,491,846.89
Non-current liabilities:
36
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Insurance contract reserve
Long-term borrowings
Bonds payable
Including: Preference
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term employee
benefits payable
Provisions
Deferred income 72,778,437.92 72,778,437.92
Deferred income tax
118,872,366.61 118,872,366.61
liabilities
Other non-current
liabilities
Total non-current liabilities 191,650,804.53 191,650,804.53
Total liabilities 4,439,142,651.42 4,439,142,651.42
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Including: Preference
shares
Perpetual
bonds
Capital reserves 1,295,405,592.25 1,295,405,592.25
Less: Treasury stock
Other comprehensive
income
Specific reserve
Surplus reserves 256,902,260.27 256,902,260.27
General reserve
Retained earnings 6,888,203,911.92 6,888,203,911.92
Total equity attributable to
owners of the Company as 8,944,111,764.44 8,944,111,764.44
the parent
Non-controlling interests 488,042,947.30 488,042,947.30
37
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Total owners’ equity 9,432,154,711.74 9,432,154,711.74
Total liabilities and owners’
13,871,297,363.16 13,871,297,363.16
equity
Balance Sheet of the Company as the Parent
Unit: RMB
Item 31 December 2019 1 January 2020 Adjusted
Current assets:
Monetary assets 2,919,818,830.20 2,919,818,830.20
Held-for-trading financial
489,861,097.02 489,861,097.02
assets
Derivative financial assets
Notes receivable 378,740,100.82 378,740,100.82
Accounts receivable 218,558,555.07 218,558,555.07
Receivables financing
Prepayments 17,906,999.63 17,906,999.63
Other receivables 125,219,213.84 125,219,213.84
Including: Interest
301,888.89 301,888.89
receivable
Dividends
receivable
Inventories 2,688,839,871.27 2,688,839,871.27
Contract assets
Assets held for sale
Current portion of
non-current assets
Other current assets 1,280,998.32 1,280,998.32
Total current assets 6,840,225,666.17 6,840,225,666.17
Non-current assets:
Debt investments
Other debt 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
38
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Investment property 4,710,086.02 4,710,086.02
Fixed assets 1,310,704,771.36 1,310,704,771.36
Construction in progress 84,477,784.02 84,477,784.02
Productive living assets
Oil and gas assets
Right-of-use assets
Intangible assets 243,928,047.95 243,928,047.95
Development costs
Goodwill
Long-term prepaid
48,354,967.15 48,354,967.15
expense
Deferred income tax assets 31,360,809.87 31,360,809.87
Other non-current assets 574,026.00 574,026.00
Total non-current assets 2,872,324,157.69 2,872,324,157.69
Total assets 9,712,549,823.86 9,712,549,823.86
Current liabilities:
Short-term borrowings
Held-for-trading financial
liabilities
Derivative financial
liabilities
Notes payable 49,114,582.04 49,114,582.04
Accounts payable 450,303,984.53 450,303,984.53
Advances from customers 31,724.77 0.00 -31,724.77
Contract liabilities 0.00 31,724.77 31,724.77
Employee benefits payable 100,357,808.20 100,357,808.20
Taxes and levies payable 371,012,223.50 371,012,223.50
Other payables 274,053,511.54 274,053,511.54
Including: Interest
payable
Dividends
payable
Liabilities directly
associated with assets held
for sale
Current portion of
non-current liabilities
39
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
Other current liabilities 11,953,800.20 11,953,800.20
Total current liabilities 1,256,827,634.78 1,256,827,634.78
Non-current liabilities:
Long-term borrowings
Bonds payable
Including: Preference
shares
Perpetual
bonds
Lease liabilities
Long-term payables
Long-term employee
benefits payable
Provisions
Deferred income 33,229,246.47 33,229,246.47
Deferred income tax
22,799,814.64 22,799,814.64
liabilities
Other non-current
liabilities
Total non-current liabilities 56,029,061.11 56,029,061.11
Total liabilities 1,312,856,695.89 1,312,856,695.89
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Including: Preference
shares
Perpetual
bonds
Capital reserves 1,247,162,107.35 1,247,162,107.35
Less: Treasury stock
Other comprehensive
income
Specific reserve
Surplus reserves 251,800,000.00 251,800,000.00
Retained earnings 6,397,131,020.62 6,397,131,020.62
Total owners’ equity 8,399,693,127.97 8,399,693,127.97
Total liabilities and owners’
9,712,549,823.86 9,712,549,823.86
equity
40
Gujinggong Liquor Aged Original Liquor Third Quarterly Report 2020
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2020
of the New Accounting Standards Governing Revenue and Leases
□ 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
28 October 2020
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