First Quarterly Report 2009 of Anhui Gujing Distillery Company Limited
1
Anhui Gujing Distillery Company Limited
First Quarterly Report 2009
§1 Important notices
1.1 Board of Supervisors and directors, supervisors, and senior managers of the company ensure that there is
neither untrue presentation, seriously misleading statements, nor omission of material facts contained in
the information herein and shall severally and jointly bear responsibility for the authenticity, accuracy
and completeness of the information contained in this report.
1.2 The third quarterly report of the company has not been audited by accounting firm.
1.3 Mr. Cao Jie, the principal of the Company, Mr. Lv Jiazhao, the principal in charge of accounting, and Ms.
Xia Xueyun, the principal of the accounting department (chief accountant), hereby declare that: We
guarantee the authenticity and completeness of the financial statements in the quarterly report.
§2 Basic information of the company
2.1 Main accounting data and financial index
Unit: (RMB) Yuan
Non-recurring profit and loss items
2.2 Total number of shareholders at the end of the reporting period and shareholdings of the top ten nonrestricted
shares shareholders
Unit: share
End of Reporting period End of previous year Increase and decrease (%)
Total assets 1,474,236,044.42 1,519,528,961.06 -2.98%
Equity subject to the owners of the
parent company 909,972,883.75 879,910,755.89 3.42%
Stock 235,000,000.00 235,000,000.00 0.00%
Net assets per share subject to the
owners of the parent company 3.87 3.74 3.48%
This reporting period Same period of last year Increase and decrease (%)
Total revenue from operations 438,242,940.95 405,561,602.66 8.06%
Net income subject to the owners of
the parent company 30,062,127.86 21,329,425.30 40.94%
Net cash flows from operating
activities 38,410,294.41 -14,683,400.92 361.59%
Net cash flows from operating
activities per share 0.16 -0.06 366.67%
Earnings per share 0.13 0.09 44.44%
Diluted earnings per share 0.13 0.09 44.44%
Net asset earning ratio 3.30% 2.41% 0.89%
Net asset earning ratio after deducting
non-recurring profit and loss 3.11% 2.14% 0.97%
Non-recurring profit and loss items Beginning of the year to
reporting period amount
Non-operating income 1,803,890.85
Non-operating income -16,249.88
Total 1,787,640.97
None
Total number of shareholders at the end of the
reporting period (household) 33,189
Shareholdings of top 10 circulation shareholders for unlimited sale conditions
Name of shareholders (full name) Number of non-restricted circulation shares
held at the end of the reporting period Type
Anhui Gujing Group Co., Ltd. 20,202,011 RMB–denominated common share
GAM ASIA EQUITY HEDGE INVESTMENTS
INC 1,885,403 Domestic listed foreign-oriented shares
GSI S/A GOLDEN CHINA MASTER FUND 965,948 Domestic listed foreignFirst Quarterly Report 2009 of Anhui Gujing
Distillery Company Limited
2
§3 Substantial events
3.1 Particulars on material change of significant accounting statement and financial indexes of the company
and the reasons thereof
√Available □ Unavailable
3.2 Explanation and analysis of material events and their impacts and solutions
√Available □ Unavailable
3.3 Implementation of commitments by the company, its shareholders and effective controllers
√Available □ Unavailable
Chen Bo 920,191 Domestic listed foreign
GAM GREATER CHINA EQUITY HEDGE
INVESTMENTS INC 793,610 Domestic listed foreign
Chen Fei 745,070 Domestic listed foreign
China Merchants Securities (HK) Co., Limited 700,430 Domestic listed foreign
Zheng Bang (Promoted) 589,500 Domestic listed foreign
Huang Peiling 441,602 Domestic listed foreign
Chen Ruihong 387,200 RMB–denominated common share
1. Net profit: increase 40.94% compared with the same period of last year, which mainly caused by the
increase of sales revenue
2. Operating profit: increase 81.43% compared with the same period of last year, which mainly caused by the
increase of sales revenue
3. Financial expense: decrease 60.33% compared with the same period of last year, which mainly caused by
the decrease of loan
4. Income tax: increase 231.19% compared with the same period of last year, which mainly caused by the
cancel of exemption policy
of the subsidiary
5. Undistributed profit: increase 49.99% compared with the beginning of the period, which mainly caused by
the increase of profit
6. Accounts receivable: increase 86.03% compared with the beginning of the period, which mainly caused by
the increase of sales
revenue
7. Construction material: decrease 51.27% compared with the beginning of the period, which mainly caused by
the project
consumption
8. Short-term loan: decrease 60% compared with the beginning of the period, which mainly caused by the
change of financing method
9. Accrued payroll: decrease 35.01% compared with the beginning of the period, which mainly caused by the
payment of the economic
compensation
The 9th meeting of the fifth board of directors of the company passes the “Proposal for Replacement
between 100% Equity of
Anhui Rui Fuxiang Food Co., Ltd. Held by the Company and 100% Equity of Shanghai Gujing Jinhao Hotel
Management Co., Ltd.
(previous Shanghai Gujing Jinhao Property Development Co., Ltd.) Held by Anhui Gujing Group Co., Ltd.”.
Please refer to the “Notice
of Assets Replacement and Related Transaction of Anhui Gujing Distillery Co., Ltd.” issued on China
Securities Journal, Shanghai
Securities News, and Hong Kong Newspaper (hereinafter refer to “announcement of related transaction”) for
more details.
According to the notice of Anhui Gujing Distillery Co., Ltd., all guarantees related to the foresaid
announcement of related
transaction have been rescinded. Therefore, the company has already possessed the conditions of holding the
general meeting of
shareholders for deliberating such trading. The 11th meeting of the fifth board of directors of the company
passes the proposal of holding
the 2008 general meeting of shareholders to deliberate the related transaction. Please refer to No. 2009-
012 announcement of the
company – “Announcement for Development of Assets Replacement and Related Transaction of Anhui Gujing
Distillery Co., Ltd.” for
more details.
Commitments Contents of commitments Implementation
Commitment of stock reformation
Anhui Gujing Group Co., Ltd. the
original non-circulation
shareholder of the Company,
promises: shares held by the
should not be listed for trade or
transferred within 12 months after
being granted the circulation right.
Upon the expiry of the period, the
number of shares sold within 12
month should not exceed 5% of
the total shares of the Company,
and not exceed 10% within 24
months.
Implementing the commitment
Commitment of limited sales of stock None NoneFirst Quarterly Report 2009 of Anhui Gujing Distillery
Company Limited
3
3.4 Forecast on possible loss on accrued net profit for the period from the beginning of the year to the
end
of the next reporting period or warning on significant change from the same period last year and the
reasons thereof
□ Available√Unavailable
3.5 Other significant events requiring explanation
3.5.1 Investment in security
□ Available√Unavailable
3.5.2 Reception of investigation, communication and interviewing activities during the reporting period
3.5.3 Explanation of other significant events
□ Available√Unavailable
§4 Appendix
4.1 Balance sheet
Prepared by: ANHUI GUJING DISTILLERY COMPANY LIMITED March 31st 2009 Unit: (RMB) Yuan
Commitments in Acquisition Report or
Statement of Change in Equities None None
Commitments during the material assets
reorganization None None
Commitments during the issuance None None
Other commitments (include additional
commitments) None None
Time of reception Place of reception Method of reception Client of reception Main topic and data provided
27th February
2009 Company Telephone communication Investor Learn about the recent operation of the
company and 2008 annual performance
10th March 2009 Company Telephone communication Investor Learn about the 2008 annual
performance of the company
Item
End balance Beg. balance
Consolidation Parent company Consolidation
Current assets:
Monetary funds 260,469,485.76 115,646,387.22 273,657,327.23 160,876,265.53
Deposit Reservation for Balance
Loans to other banks
Trading financial assets
Notes receivable 102,741,596.48 12,534,931.33 110,369,921.69 14,209,422.07
Accounts receivable 70,712,399.98 130,378.38 38,011,629.75 150,378.38
Advances to suppliers 7,013,356.39 641,340.59 8,505,832.02 550,715.08
Premium receivable
Accounts receivable reinsurance
Reinsurance reserve receivable
Interest receivable
Dividend receivable
Other receivables 14,362,664.63 43,314,244.85 13,159,669.93 41,052,295.68
Buying back the sale of financial
assets
Inventories 422,013,832.14 330,589,195.66 471,441,845.77 376,484,276.87First Quarterly Report 2009 of Anhui Gujing Distillery Company
Limited
4
Non-current assets due within a
year
Other current assets
Sub-total of current assets 877,313,335.38 502,856,478.03 915,146,226.39 593,323,353.61
Non-current assets:
Loans provided and advances to
supplier
Tradable financial assets
Held-to-maturity securities
Long-term receivables
Long-term equity investment 536,185,003.12 536,185,003.12
Investment real estate 28,942,561.99 19,679,851.30 30,070,920.49 20,750,561.30
Fixed assets 397,315,759.91 133,166,876.77 404,411,417.89 127,312,151.56
Construction in progress 77,218,032.21 2,626,706.51 75,221,939.28 10,997,676.98
Construction material 630,687.39 115,261.62 1,294,344.98 115,261.62
Disposal of fixed assets
Bio-assets
Oil and gas assets
Intangible assets 88,956,832.24 27,437,895.52 89,411,527.01 27,634,199.23
Development expenditure
Goodwill
Long-term prepayment 2,259,183.05 2,372,932.77
Deferred income tax assets 1,599,652.25 1,599,652.25
Other non-current assets
Sub-total of non-current assets 596,922,709.04 719,211,594.84 604,382,734.67 722,994,853.81
Total assets 1,474,236,044.42 1,222,068,072.87 1,519,528,961.06 1,316,318,207.42
Current liabilities:
Short-term loan 30,000,000.00 30,000,000.00 75,000,000.00 50,000,000.00
Central bank loan
Accept money deposits and
banker’s deposit
Loans from other banks
Trading financial liabilities
Notes payable
Accounts payable 92,758,818.88 53,934,461.96 103,808,683.11 71,718,570.18
Advances from customers 73,449,805.79 146,402,263.57 57,827,722.77 189,710,231.69
Financial assets sold for
repurchase
Handling charges and
commission payable
Payable salary and remuneration
for employees 69,799,671.33 36,273,685.11 107,402,663.10 73,293,195.95
Taxes payable 150,968,985.98 95,572,306.32 161,248,886.85 92,281,905.21
Interest payable
Dividend payable 22,452.59 22,452.59
Other payables 98,227,676.81 33,484,912.27 85,249,359.60 31,444,577.50
Reinsurance payable
Reserves for insurance contract
Receiving from vicariously
traded securities
Receiving from vicariously sold
securities
Current liabilities due within a
year 11,000,000.00 5,000,000.00 11,000,000.00 5,000,000.00
Other current liabilitiesFirst Quarterly Report 2009 of Anhui Gujing Distillery Company Limited
5
4.2 Income statement
Prepared by: ANHUI GUJING DISTILLERY COMPANY LIMITED January-March 2009 Unit: (RMB) Yuan
Sub-total of current liabilities 526,227,411.38 400,667,629.23 601,559,768.02 513,448,480.53
Non-current liabilities:
Long-term loan 25,000,000.00 5,000,000.00 25,000,000.00 5,000,000.00
Bonds payable
Long-term payables
Special payables
Deferred income 9,930,000.00 1,530,000.00 9,930,000.00 1,530,000.00
Estimated liability
Deferred income tax liability
Other non-current liabilities
Sub-total of non-current liabilities 34,930,000.00 6,530,000.00 34,930,000.00 6,530,000.00
Sub-total of liabilities 561,157,411.38 407,197,629.23 636,489,768.02 519,978,480.53
Owners' (or shareholders') equity:
Paid-in capital (or stock) 235,000,000.00 235,000,000.00 235,000,000.00 235,000,000.00
Capital surplus 532,491,668.70 518,090,990.16 532,491,668.70 518,090,990.16
Less: treasury share
Surplus reserve 52,283,759.34 47,244,617.51 52,283,759.34 47,244,617.51
General risk provision
Undistributed profit 90,197,455.71 14,534,835.97 60,135,327.85 -3,995,880.78
Converted difference in Foreign
Currency Statements
Sub-total of equity subject to the
owners of the parent company 909,972,883.75 814,870,443.64 879,910,755.89 796,339,726.89
Minority shareholders' equity 3,105,749.29 3,128,437.15
Total owner’s equity: 913,078,633.04 814,870,443.64 883,039,193.04 796,339,726.89
Total of liabilities and owners'
equity 1,474,236,044.42 1,222,068,072.87 1,519,528,961.06 1,316,318,207.42
Item
Amount of this period Amount of last period
Consolidation Parent company Consolidation Parent company
I. Total revenue from operations 438,242,940.95 254,037,705.45 405,561,602.66 174,624,306.82
Including: Revenue from
operation 438,242,940.95 254,037,705.45 405,561,602.66 174,624,306.82
Revenue from interest
Earned premium
Revenue from handling
charge and commission
II. Total operation costs 398,732,312.80 236,611,649.43 383,783,867.04 211,385,043.45
Including: Operation costs 213,355,012.57 141,607,330.41 248,733,133.06 150,095,433.54
Interest expense
Handling charge and
commission expense
Cash surrender value
Claim expenses-net
Provision for insurance
contract reserve
Policyholder dividends
Expenses for
reinsurance accepted
Taxes and surcharge for
operations 67,346,862.71 63,414,572.30 49,107,688.39 44,426,712.57
Sales expenses 67,853,163.20 178,012.29 49,752,171.97 520,774.80First Quarterly Report 2009 of Anhui Gujing
Distillery Company Limited
6
4.3 Cash flow statement
Prepared by: ANHUI GUJING DISTILLERY COMPANY LIMITED January-March 2009 Unit: (RMB) Yuan
Administrative expenses 49,425,910.91 30,422,094.35 36,064,008.11 17,031,660.21
Financial expense 751,363.41 989,640.08 1,894,170.81 1,077,767.63
Losses from impairment of assets -1,767,305.30 -1,767,305.30
Add: Income from the change of
fair value
Investment income 53,813,999.54
Including: Income from the
investment in joint ventures
Income from foreign
currency conversion
III. Operating profit 39,510,628.15 17,426,056.02 21,777,735.62 17,053,262.91
Add: Non-operating expense 1,803,890.85 1,119,518.73 3,082,651.49 1,922,457.21
Less: Non-operating expenses 16,249.88 14,858.00 127,385.20 121,442.76
Including: Losses from
disposal of non-current assets
IV. Income before tax 41,298,269.12 18,530,716.75 24,733,001.91 18,854,277.36
Less: Income tax expenses 11,258,829.12 3,399,472.16
V. Net profit 30,039,440.00 18,530,716.75 21,333,529.75 18,854,277.36
Net profit subject to the
owners of the parent company 30,062,127.86 18,530,716.75 21,329,425.30 18,854,277.36
Losses and income of
minority shareholders -22,687.86 4,104.45
VI. Earnings per share
1. Basic earnings per share 0.13 0.08 0.09 0.08
2. Diluted earnings per share 0.13 0.08 0.09 0.08
Item
Amount of this period Amount of last period
Consolidation Parent company Consolidation
I. Net cash flows from operating
activities:
Cash received from the sale
of goods or rendering of services 442,907,497.95 238,103,821.53 325,135,706.90 123,309,267.61
Net increase in customer
deposit and banker’s deposit
Net increase in central bank
loan
Net increase in loans from
other financial institutions
Cash received for premium
income of an original insurance
contract
Net cash received for
reinsurance
Net increase in policyholder
deposit and investment
Net increase in trading
financial assets
Cash for interests, handling
charges and commission received
Net increase in loans from
other banks
Net increase in cash received
under repurchase
Refund of tax and fare
received 384,233.71First Quarterly Report 2009 of Anhui Gujing Distillery Company Limited
7
Other cash received relating
to operating activities 12,410,436.37 7,959,159.08 17,633,959.71 15,765,949.72
Sub-total of cash inflows relating
to operating activities 455,702,168.03 246,062,980.61 342,769,666.61 139,075,217.33
Cash paid for goods and
services 182,332,950.11 117,747,161.38 158,411,090.57 31,066,035.94
Net increase in loans and
advances to supplier
Net increase in due from
central bank and deposits in other
banks
Cash paid for original
insurance contract
Cash paid for interests,
handling charges and commission
Dividends paid to
policyholders
Cash paid to and on behalf
of employees 84,044,145.50 54,248,227.77 51,524,677.74 32,723,138.22
Tax and fare paid 142,234,808.84 89,855,835.71 128,353,715.64 67,336,152.97
Other cash paid relating to
operating activities 8,679,969.17 6,556,322.70 19,163,583.58 6,791,562.27
Sub-total of cash outflows relating
to operating activities 417,291,873.62 268,407,547.56 357,453,067.53 137,916,889.40
Net cash flows from
operating activities 38,410,294.41 -22,344,566.95 -14,683,400.92 1,158,327.93
Ⅱ. Investing and financing
activities that do not involve cash
receipts and payments:
Cash received from return
of investments
Cash received from
investment income
Net cash received from
disposal of fixed assets, intangible
assets and other long-term assets
32,558.93 1,487,138.24 958,821.92
Net cash received from
disposal of sale of subsidiaries
and other operating units
Other cash received relating
to investment activities
Sub-total of cash inflows relating
to investment activities 32,558.93 1,487,138.24 958,821.92
Cash paid for acquiring
fixed assets, intangible assets and
other long-term assets
5,611,491.02 1,937,912.00 16,929,726.46 11,741,844.83
Cash paid for acquiring
investments
Net increase in loan
Net cash used in acquiring
subsidiaries and other operating
units
Other cash paid relating to
investment activities
Sub-total of cash outflows
relating to investment activities 5,611,491.02 1,937,912.00 16,929,726.46 11,741,844.83
Net cash flow from investing
activities -5,578,932.09 -1,937,912.00 -15,442,588.22 -10,783,022.91
III. Cash Flows from Financing
Activities:
Cash received from
absorbing investmentFirst Quarterly Report 2009 of Anhui Gujing Distillery Company Limited
8
4.4 Auditors’ report
4.5 Auditing opinion: unaudited
Including: Cash received
from increase in minority interest
Cash received from
borrowings 10,000,000.00 10,000,000.00
Cash received from issuing
debentures
Other proceeds relating to
financing activities
Sub-total of cash inflows relating
to financing activities 10,000,000.00 10,000,000.00
Cash paid for settling debt 45,000,000.00 20,000,000.00 10,000,000.00 10,000,000.00
Cash paid for distribution of
dividends or profit or reimbursing
interest
1,019,203.79 947,399.36 1,977,222.50 975,085.00
Including: dividends or
profit paid to minority interest
Other cash payments
relating to financing activities
Sub-total of cash outflows
relating to financing activities 46,019,203.79 20,947,399.36 11,977,222.50 10,975,085.00
Net cash flow from financing
activities -46,019,203.79 -20,947,399.36 -1,977,222.50 -975,085.00
IV. Effect of foreign exchange
rate changes and cash equivalent
V. Net increase in cash and cash
equivalents -13,187,841.47 -45,229,878.31 -32,103,211.64 -10,599,779.98
Add : Cash and cash
equivalents at the beginning of the
period
273,657,327.23 160,876,265.53 154,708,705.75 52,029,679.84
VI. Cash and cash equivalents at
the end of the period 260,469,485.76 115,646,387.22 122,605,494.11 41,429,899.86
