ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2022
October 2022
Third Quarterly Report 2022
Stock Code: 000596, 200596 Stock Name: Gujing Distillery, Gujing Distillery-B Announcement No. 2022-033
ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2022
Anhui Gujing Distillery Company Limited (hereinafter referred to as the “Company”) and all
the members of the Company’s Board of Directors hereby guarantee that the contents of this
Report are true, accurate and complete and free of any misrepresentations, misleading
statements or material omissions.
Important Notes:
1. The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and senior management
of the Company hereby guarantee that the contents of this Report 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.
2. The Company’s legal representative, Chief Accountant, and head of the financial department (equivalent to financial manager)
hereby guarantee that the financial statements carried in this Report are truthful, accurate and complete.
3. Indicate by tick mark whether the financial statements in this Report have been audited by an independent auditor.
□Yes No
I Key Financial Information
(I) Key Accounting Data and Financial Indicators
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□Applicable Not applicable
Q3 2022 YoY change (%) Q1-Q3 2022 YoY change (%)
Operating revenue
3,762,643,542.44 21.58% 12,764,649,465.86 26.35%
(RMB)
Net profit attributable
to the listed company’s 703,868,180.94 19.27% 2,622,689,684.69 33.20%
shareholders (RMB)
Net profit attributable
to the listed company’s
shareholders before 689,133,927.04 22.32% 2,578,160,978.10 35.57%
exceptional gains and
losses (RMB)
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Third Quarterly Report 2022
Net cash generated
from/used in operating — — 5,062,733,437.72 28.08%
activities (RMB)
Basic earnings per
1.33 19.82% 4.96 28.83%
share (RMB/share)
Diluted earnings per
1.33 19.82% 4.96 28.83%
share (RMB/share)
Weighted average
3.99% 0.28% 14.69% -0.84%
return on equity (%)
30 September 2022 31 December 2021 Change (%)
Total assets (RMB) 30,808,452,084.25 25,418,086,447.80 21.21%
Equity attributable to
the listed company’s 17,995,930,595.42 16,537,389,443.64 8.82%
shareholders (RMB)
(II) Exceptional Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q3 2022 Q1-Q3 2022 Note
Gain or loss on disposal of
non-current assets (inclusive
-248,504.05 -204,692.54
of impairment allowance
write-offs)
Government grants through
profit or loss (exclusive of
government grants
continuously given in the
Company’s ordinary course of 13,126,731.43 39,335,812.58
business at fixed quotas or
amounts as per the
government’s policies and
standards)
Gain or loss on fair-value
changes on held-for-trading
financial assets and liabilities
& income from disposal of
-3,680,291.77 -2,300,565.47
held-for-trading financial
assets and liabilities and
available-for-sale financial
assets (exclusive of the
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Third Quarterly Report 2022
effective portion of hedges
that arise in the Company’s
ordinary course of business)
Reversed portions of
impairment allowances for
35,092.78 423,337.78
receivables which are tested
individually for impairment
Non-operating income and
12,702,241.49 29,487,555.90
expense other than the above
Less: Income tax effects 5,229,809.52 15,988,456.56
Non-controlling
1,971,206.46 6,224,285.10
interests effects (net of tax)
Total 14,734,253.90 44,528,706.59 --
Other items that meet the definition of exceptional gain/loss:
□Applicable Not applicable
No such cases in the Reporting Period.
Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item 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 in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation
Applicable □ Not applicable
30 September 2022 31 December 2021
Balance sheet items Change (%) Main reason for change
(RMB) (RMB)
Monetary assets 17,034,246,172.96 11,924,922,771.76 42.85% Increased sales orders
Disinvestment in wealth
Held-for-trading financial
200,176,921.61 2,661,103,876.68 -92.48% management products upon
assets
maturity
Increased notes received for the
Receivables financing 1,412,330,145.53 545,204,103.42 159.05%
sale of products
Other receivables 118,259,178.69 71,753,212.24 64.81% Increased security deposits paid
Investment property 13,619,741.09 4,075,801.06 234.16% Properties leased out
The main reasons are the increase
of unrecognized expenses and the
Other current liabilities 1,678,580,358.74 799,522,562.60 109.95%
reclassification of sales tax to be
transferred
Contract liabilities 3,763,129,954.00 1,825,447,705.85 106.15% Increased sales orders
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Third Quarterly Report 2022
Settlement of notes payable upon
Notes payable 38,600,000.00 127,114,336.16 -69.63%
maturity
Income statement items Q1-Q3 2022 (RMB) Q1-Q3 2021 (RMB) Change (%) Main reason for change
Reversal of impairments of
Asset impairment loss 4,343,131.74 2,464,519.26 76.23%
packaging materials
Operating profit 3,628,606,316.21 2,659,777,537.77 36.43% Increased sales revenue
Income tax expense 948,457,721.36 678,416,189.86 39.80% Increased gross profit
Net profit 2,708,722,768.34 2,028,472,869.04 33.54% Increased sales revenue
Cash flow statement items Q1-Q3 2022 (RMB) Q1-Q3 2021 (RMB) Change (%) Main reason for change
Disinvestment in wealth
Subtotal of cash generated
8,170,066,737.45 409,691,859.07 1,894.20% management products upon
from investing activities
maturity
Subtotal of cash generated Private placement in the same
66,000,000.00 5,138,157,169.81 -98.72%
from financing activities period of last year
Disinvestment in wealth
Cash and cash equivalents,
14,297,082,879.84 6,471,521,082.34 120.92% management products upon
end of the period
maturity
II Shareholder Information
(I) 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 23,920 shareholders with resumed 0
voting rights (if any)
Top 10 shareholders
Name of Nature of Shareholding Restricted shares Shares in pledge, marked or frozen
Total shares held
shareholder shareholder percentage held Status Shares
ANHUI GUJING
GROUP State-owned legal
51.27% 271,025,622 In pledge 114,000,000
COMPANY person
LIMITED
BANK OF
CHINA-CHINA
MERCHANTS
Other 2.63% 13,896,528
CHINA
SECURITIES
LIQUOR INDEX
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Third Quarterly Report 2022
CLASSIFICATI
ON
SECURITIES
INVESTMENT
FUND
GAOLING Foreign legal
2.35% 12,446,408
FUND,L.P. person
INDUSTRIAL
AND
COMMERCIAL
BANK OF
CHINA
LIMITED-
INVESCO
Other 1.89% 9,999,951
GREAT WALL
EMERGING
GROWTH
HYBRID
SECURITIES
INVESTMENT
FUND
AGRICULTURA
L BANK OF
CHINA － E
FUND
CONSUMPTION
Other 1.77% 9,339,957
SECTOR
STOCK
SECURITIES
INVESTMENT
FUND
HONG KONG
SECURITIES Foreign legal
1.62% 8,571,964
CLEARING person
COMPANY LTD.
CHINA
INTERNATION
AL CAPITAL
Foreign legal
CORPORATION 1.42% 7,516,258
person
HONG KONG
SECURITIES
LTD
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Third Quarterly Report 2022
UBS
(LUX) EQUITY
Foreign legal
FUND - CHINA 1.41% 7,451,261
person
OPPORTUNITY
(USD)
BANK OF
CHINA-
INVESCO
GREAT WALL
DINGYI Other 0.95% 4,995,403
HYBRID
SECURITIES
INVESTMENT
FUND (LOF)
GREENWOODS
Foreign legal
CHINA ALPHA 0.87% 4,614,326
person
MASTER FUND
Top 10 unrestricted shareholders
Shares by class
Name of shareholder Unrestricted ordinary shares held
Class Shares
ANHUI GUJING GROUP RMB-denominate
271,025,622 271,025,622
COMPANY LIMITED d ordinary share
BANK OF CHINA-CHINA
MERCHANTS CHINA
RMB-denominate
SECURITIES LIQUOR INDEX 13,896,528 13,896,528
d ordinary share
CLASSIFICATION SECURITIES
INVESTMENT FUND
Domestically
GAOLING FUND,L.P. 12,446,408 listed foreign 12,446,408
share
INDUSTRIAL AND
COMMERCIAL BANK OF CHINA
LIMITED- INVESCO GREAT RMB-denominate
9,999,951 9,999,951
WALL EMERGING GROWTH d ordinary share
HYBRID SECURITIES
INVESTMENT FUND
AGRICULTURAL BANK OF
CHINA － E FUND
RMB-denominate
CONSUMPTION SECTOR STOCK 9,339,957 9,339,957
d ordinary share
SECURITIES INVESTMENT
FUND
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Third Quarterly Report 2022
HONG KONG SECURITIES RMB-denominate
8,571,964 8,571,964
CLEARING COMPANY LTD. d ordinary share
CHINA INTERNATIONAL Domestically
CAPITAL CORPORATION HONG 7,516,258 listed foreign 7,516,258
KONG SECURITIES LTD share
UBS Domestically
(LUX) EQUITY FUND - CHINA 7,451,261 listed foreign 7,451,261
OPPORTUNITY (USD) share
BANK OF CHINA- INVESCO
GREAT WALL DINGYI HYBRID RMB-denominate
4,995,403 4,995,403
SECURITIES INVESTMENT d ordinary share
FUND (LOF)
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.
Since October 2021, the Company's controlling shareholder Gujing Group has conducted the
Top 10 shareholders engaged in
business of "Refinancing by Lending Securities", and as of 30 September 2022, 378,400 lent
securities margin trading (if any)
shares were outstanding with no transfer of the ownership of these shares.
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable Not applicable
III Other Significant Events
□Applicable Not applicable
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited
30 September 2022
Unit: RMB
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Third Quarterly Report 2022
Item 30 September 2022 1 January 2022
Current assets:
Monetary assets 17,034,246,172.96 11,924,922,771.76
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets 200,176,921.61 2,661,103,876.68
Derivative financial assets
Notes receivable
Accounts receivable 61,078,319.28 89,005,804.17
Receivables financing 1,412,330,145.53 545,204,103.42
Prepayments 131,437,463.55 156,570,970.99
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables 118,259,178.69 71,753,212.24
Including: Interest receivable
Dividends receivable
Financial assets purchased under resale
agreements
Inventories 5,165,801,817.67 4,663,456,672.30
Contract assets 3,920,884.42 0.00
Assets held for sale
Current portion of non-current assets
Other current assets 167,671,584.22 178,222,222.56
Total current assets 24,294,922,487.93 20,290,239,634.12
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 9,359,147.66 5,312,600.78
Investments in other equity instruments 57,873,426.31 54,542,418.50
Other non-current financial assets
Investment property 13,619,741.09 4,075,801.06
Fixed assets 2,167,040,215.13 1,984,063,975.87
Construction in progress 2,067,821,794.84 1,064,134,904.21
Productive living assets
Oil and gas assets
Right-of-use assets 36,197,795.02 43,927,228.97
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Third Quarterly Report 2022
Intangible assets 1,101,079,327.44 1,063,468,842.61
Development costs
Goodwill 561,364,385.01 561,364,385.01
Long-term prepaid expense 54,984,652.31 55,908,338.03
Deferred income tax assets 442,672,311.51 283,828,000.24
Other non-current assets 1,516,800.00 7,220,318.40
Total non-current assets 6,513,529,596.32 5,127,846,813.68
Total assets 30,808,452,084.25 25,418,086,447.80
Current liabilities:
Short-term borrowings 30,029,027.77 30,035,138.89
Borrowings from the central bank
Loans from other banks and financial
institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 38,600,000.00 127,114,336.16
Accounts payable 1,333,479,945.31 1,020,437,321.89
Advances from customers
Contract liabilities 3,763,129,954.00 1,825,447,705.85
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 717,463,382.24 709,671,787.74
Taxes and levies payable 1,137,448,938.87 873,270,986.71
Other payables 2,874,549,852.23 2,280,937,078.12
Including: Interest payable
Dividends payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
43,881,135.15 13,190,399.32
liabilities
Other current liabilities 1,678,580,358.74 799,522,562.60
Total current liabilities 11,617,162,594.31 7,679,627,317.28
Non-current liabilities:
Insurance contract reserve
Long-term borrowings 83,849,870.66 172,356,255.83
Bonds payable
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Third Quarterly Report 2022
Including: Preference shares
Perpetual bonds
Lease liabilities 20,223,825.38 28,107,223.18
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income 98,861,681.24 91,101,512.05
Deferred income tax liabilities 183,833,592.73 194,033,257.93
Other non-current liabilities
Total non-current liabilities 386,768,970.01 485,598,248.99
Total liabilities 12,003,931,564.32 8,165,225,566.27
Owners’ equity:
Share capital 528,600,000.00 528,600,000.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserves 6,224,747,667.10 6,224,747,667.10
Less: Treasury stock
Other comprehensive income -3,963,591.10 -2,735,058.19
Specific reserve
Surplus reserves 269,402,260.27 269,402,260.27
General reserve
Retained earnings 10,977,144,259.15 9,517,374,574.46
Total equity attributable to owners of the
17,995,930,595.42 16,537,389,443.64
Company as the parent
Non-controlling interests 808,589,924.51 715,471,437.89
Total owners’ equity 18,804,520,519.93 17,252,860,881.53
Total liabilities and owners’ equity 30,808,452,084.25 25,418,086,447.80
Legal representative: Liang Jinhui The Company’s chief accountant: Zhu Jiafeng
Head of the Company’s financial department: Zhu Jiafeng
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2022 Q1~Q3 2021
1. Revenues 12,764,649,465.86 10,102,272,382.54
Including: Operating revenue 12,764,649,465.86 10,102,272,382.54
Interest income
Insurance premium income
Fee and commission income
2. Costs and expenses 9,154,472,902.48 7,482,458,725.55
Including: Cost of sales 3,011,925,609.00 2,419,835,477.14
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Third Quarterly Report 2022
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 1,960,651,152.86 1,522,415,676.18
Selling expense 3,623,969,601.99 2,903,172,050.97
Administrative expense 734,363,784.44 747,389,656.18
Development costs 41,679,560.88 33,094,095.13
Finance costs -218,116,806.69 -143,448,230.05
Including: Interest
4,155,901.18 6,694,359.93
expense
Interest
221,611,375.12 149,666,958.87
income
Add: Other income 39,335,812.58 40,087,717.90
Return on investment (“-” for loss) -21,522,470.03 -17,000,830.67
Including: Share of profit or loss
146,546.88 143,708.70
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 (“-”
-3,361,722.75 11,430,111.14
for loss)
Credit impairment loss (“-” for loss) -1,073,688.58 1,968,827.69
Asset impairment loss (“-” for loss) 4,343,131.74 2,464,519.26
Asset disposal income (“-” for loss) 708,689.87 1,013,535.46
3. Operating profit (“-” for loss) 3,628,606,316.21 2,659,777,537.77
Add: Non-operating income 39,321,949.96 52,942,882.45
Less: Non-operating expense 10,747,776.47 5,831,361.32
4. Gross profit (“-” for loss) 3,657,180,489.70 2,706,889,058.90
Less: Income tax expense 948,457,721.36 678,416,189.86
5. Net profit (“-” for net loss) 2,708,722,768.34 2,028,472,869.04
5.1 By operating continuity
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Third Quarterly Report 2022
5.1.1 Net profit from continuing
2,708,722,768.34 2,028,472,869.04
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
shareholders of the Company as the parent 2,622,689,684.69 1,968,932,387.74
(“-” for net loss)
5.2.2 Net profit attributable to
86,033,083.65 59,540,481.30
non-controlling interests (“-” for net loss)
6. Other comprehensive income, net of tax -143,129.94 1,189,883.92
Attributable to owners of the Company
-1,228,532.91 713,930.35
as the parent
6.1 Items that will not be reclassified
1,498,953.52 713,930.35
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
1,498,953.52 713,930.35
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
-2,727,486.43 0.00
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 -2,727,486.43 0.00
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
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Third Quarterly Report 2022
6.2.7 Other
Attributable to non-controlling interests 1,085,402.97 475,953.57
7. Total comprehensive income 2,708,579,638.40 2,029,662,752.96
7.1 Attributable to owners of the
2,621,461,151.78 1,969,646,318.09
Company as the parent
7.2 Attributable to non-controlling
87,118,486.62 60,016,434.87
interests
8. Earnings per share
8.1 Basic earnings per share 4.96 3.85
8.2 Diluted earnings per share 4.96 3.85
Legal representative: Liang Jinhui The Company’s chief accountant: Zhu Jiafeng
Head of the Company’s financial department: Zhu Jiafeng
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
Item Q1~Q3 2022 Q1~Q3 2021
1. Cash flows from operating activities:
Proceeds from sale of commodities and
13,992,713,794.24 11,907,897,641.67
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 4,225,211.17 4,051,124.97
Cash generated from other operating
735,658,255.69 3,610,815,913.86
activities
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Third Quarterly Report 2022
Subtotal of cash generated from operating
14,732,597,261.10 15,522,764,680.50
activities
Payments for commodities and services 2,056,810,320.53 1,816,278,619.78
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
Cash paid to and for employees 2,333,432,357.97 2,033,419,180.70
Taxes and levies paid 4,097,395,265.60 2,893,034,927.30
Cash used in other operating activities 1,182,225,879.28 4,827,359,690.59
Subtotal of cash used in operating
9,669,863,823.38 11,570,092,418.37
activities
Net cash generated from/used in operating
5,062,733,437.72 3,952,672,262.13
activities
2. Cash flows from investing activities:
Proceeds from disinvestment 8,167,512,732.49 406,849,809.53
Return on investment 1,067,121.16 1,258,650.24
Net proceeds from the disposal of fixed
assets, intangible assets and other 1,486,883.80 1,583,399.30
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 investing
8,170,066,737.45 409,691,859.07
activities
Payments for the acquisition of fixed
assets, intangible assets and other 1,234,207,242.10 417,254,078.37
long-lived assets
Payments for investments 2,514,575,094.67 444,897,000.00
Net increase in pledged loans granted
Net payments for the acquisition of
0.00 65,123,508.25
subsidiaries and other business units
Cash used in other investing activities 0.00 6,700,000,000.00
Subtotal of cash used in investing
3,748,782,336.77 7,627,274,586.62
activities
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Third Quarterly Report 2022
Net cash generated from/used in investing
4,421,284,400.68 -7,217,582,727.55
activities
3. Cash flows from financing activities:
Capital contributions received 6,000,000.00 4,962,827,169.81
Including: Capital contributions by
6,000,000.00 5,280,000.00
non-controlling interests to subsidiaries
Borrowings received 60,000,000.00 175,330,000.00
Cash generated from other financing
activities
Subtotal of cash generated from financing
66,000,000.00 5,138,157,169.81
activities
Repayment of borrowings 130,891,054.01 261,137,703.59
Interest and dividends paid 1,167,345,271.14 760,762,724.42
Including: Dividends paid by
subsidiaries to non-controlling interests
Cash used in other financing activities 12,248,812.01 16,728,887.78
Subtotal of cash used in financing
1,310,485,137.16 1,038,629,315.79
activities
Net cash generated from/used in financing
-1,244,485,137.16 4,099,527,854.02
activities
4. Effect of foreign exchange rates
changes on cash and cash equivalents
5. Net increase in cash and cash
8,239,532,701.24 834,617,388.60
equivalents
Add: Cash and cash equivalents,
6,057,550,178.60 5,636,903,693.74
beginning of the period
6. Cash and cash equivalents, end of the
14,297,082,879.84 6,471,521,082.34
period
(II) 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.
Anhui Gujing Distillery Company Limited
Board of Directors
31 October 2022
16
