The First Quarterly Report of Anhui Gujing Distillery Company Limited
1
Anhui Gujing Distillery Company Limited
The First Quarterly Report 2010
§1 Important Notes
1.1 The Board of Directors, the Supervisory Committee as well as directors, supervisors and senior
executives of Anhui Gujing Distillery Company Limited (hereinafter referred to as “the Company”)
individually and jointly accepted responsibility for the correctness, accuracy and completeness of
the contents of this report and confirmed that there was no false information, misleading statement
or material omissions.
1.2 The first quarterly financial report has not been audited by Accounting Firm.
1.3 Mr. Liu Min, person in charge of the Company, Mr. Ye Changqing, principal of accounting work,
and Ms. Xia Xueyun, person in charge of accounting firm (chief accountant), hereby confirmed that
the Financial Report enclosed in the quarterly report is true and complete.
[The Annual Report is written in both English and Chinese. In case of any discrepancy between the
two versions, Chinese version prevails.]
§2 Company Profile
2.1 Main accounting data and financial indices
Unit: RMB Yuan
At the end of the
reporting period At the end of last year Increase/decrease (%)
Total assets (RMB Yuan) 1,559,303,060.54 1,342,230,542.78 16.17%
Owner’s equity attributed to shareholders
of listed company (RMB Yuan) 883,279,604.06 807,997,950.93 9.32%
Share capital (Share) 235,000,000.00 235,000,000.00 0.00%
Net asset per share attributed to
shareholders of listed company (RMB
Yuan)
3.76 3.44 9.30%
Reporting period Same period of last year Increase/decrease (%)
Sales turnover (RMB Yuan) 566,478,312.99 452,936,916.61 25.07%
Net profit attributable to shareholders of
listed company (RMB Yuan) 75,281,653.13 25,701,235.53 192.91%
Net cash flow arising from operating
activities (RMB Yuan) 104,945,472.37 38,410,294.41 173.22%
Net cash flow per share arising from
operating activities (RMB Yuan/share) 0.45 0.16 181.25%
Basic earnings per share (RMB
Yuan/share) 0.32 0.11 190.91%
Diluted earnings per share (RMB
Yuan/share) 0.32 0.11 190.91%The First Quarterly Report of Anhui Gujing Distillery Company Limited
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Explanation on important items of extraordinary gains and losses:
2.2 As at the end of reporting period, the total number of shareholders and shareholding by the top
ten shareholders with shares not subject to trading moratorium
Unit: share
§3 Significant Events
3.1 Significant changes in major accounting data, financial highlights and reasons for these changes.
√Applicable □Non-applicable
Weighted average return on equity (%) 8.90% 3.35% 5.55%
Weighted average return on equity after
deducting extraordinary gains and losses
(%)
8.62% 3.15% 5.47%
Items of extraordinary gains and losses Amount from 1 Jan. to 31
Mar. 2010
Non-operating income 2,476,802.59
Less: non-operating expense 80,037.10
Total 2,396,765.49
Naught
Total number of shareholders 12,769
Shares held by the top ten shareholders not subject to trading moratorium
Full name of shareholders Shares not subject to trading moratorium
held at the period-end Type of share
Anhui Gujing Group Company Limited 143,702,011 Renminbi ordinary shares
KGI ASIA LIMITED 6,964,484 Domestically listed foreign shares
GUOTAI JUNAN SECURITIES(HONGKONG)
LIMITED 6,895,038 Domestically listed foreign shares
China Merchants Securities (HK) Co., Ltd 4,393,933 Domestically listed foreign shares
Agricultural Bank of China-Soochow Value
Growth Double Power Stock Fund 4,103,283 Renminbi ordinary shares
ICBC－Galaxy Yintai Financing Dividend Fund 3,344,868 Renminbi ordinary shares
UBS (LUXEMBOURG) S.A. 2,961,827 Domestically listed foreign shares
DRAGON BILLION CHINA MASTER FUND 2,299,320 Domestically listed foreign shares
GSI S/A GOLDEN CHINA MASTER FUND 2,157,769 Domestically listed foreign shares
ICBC －Soochow Jiahe Advanced Mixed Type
Open-Ended Fund 1,916,233 Renminbi ordinary shares
1. Notes receivable increased by 140.28% compared with the opening amount, which was caused by
increase of sale revenue;
2. Accounts receivable increased by 202.36% compared with the opening amount, which was caused
by increase of sale revenue;
3. Other receivables decreased by 49.16% compared with the opening amount, which was caused by
invoices recovery in the expense;
4. Construction in progress decreased by 67.58% compared with the opening amount, which was causThe First Quarterly Report of Anhui Gujing Distillery Company Limited
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3.2 Process of significant events and influence, as well as analysis and explanation on resolving
proposal
□Applicable √Inapplicable
3.3 Special commitments made by the company, shareholders and actual controllers
□Applicable √Inapplicable
3.4 Warnings of possible loss or large-margin change of the accumulated net profit made during the
period from the beginning of the year to the end of the next report period compared with the same
period of the last year according to prediction, as well as explanations on the reasons
□Applicable √Inapplicable
3.5 Other significant events need to be explained
3.5.1 Securities investment
□Applicable √Inapplicable
3.5.2 Reception of research, interviews and visits in the reporting period
3.5.3 Explanation on other significant events
□Applicable √Inapplicable
ed by budget needed for the completion of projects.
5. Deferred income tax assets decreased by 57.28% compared with the opening amount, which was
because deductible temporary differences has been made up, resulting in recovery of deferred income
tax assets;
6. Advances from customers increased by 36.23% compared with the opening amount, which was
caused by increase of sale revenue;
7. Retained profit increased by 42.54% compared with the opening amount, which was caused by
increase of total profit;
8. Sale expense increased by 81.71% year-on-year, which was caused by expansion of market share,
resulting in increase of market input;
9. Administration expense increased by 46.70% year-on-year, which was because of rebuilding of
internal factory and equipments building, resulting in increase of expenditure.
10. Financial expense decreased by 163.15% year-on-year, which was caused by increase in interest
income and income from financing products;
11. Income tax expense increased by 134.99% year-on-year, which was caused by increase of total
profit.
12. Net profit increased by 193.17% year-on-year, which was caused by increased of revenue.
Reception time Reception place Reception way Reception object Major discussion content and the
information provided by the Company
5 Mar. 2010 The Company Field investigation Everbright Securities Co.
Ltd Production and operation of the Company
8 Mar. 2010 The Company Field investigation HAITONG Securities
Company Limited Production and operation of the Company
8 Mar. 2010 The Company Field investigation Galaxy Asset Management
Co., Ltd. Production and operation of the Company
8 Mar. 2010 The Company Field investigation Soochow Asset Management
Co., Ltd. Production and operation of the CompanyThe First Quarterly Report of Anhui Gujing Distillery Company Limited
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3.6 Derivative Investment
□Applicable √Inapplicable
3.6.1 Derivatives held as at the end of the report period
□Applicable √Inapplicable
§4 Attachment
4.1 Balance sheet
Prepared by Anhui Gujing Distillery Company Limited 31 Mar. 2010 Unit: RMB Yuan
Items
Closing Amount Opening amount
Consolidation Parent Company Consolidation Parent Company
Current assets:
Monetary funds 459,116,214.08 335,046,883.75 361,051,750.67 279,382,070.44
Settlement fund reserve
Dismantle fund
Transaction financial asset 397,590.00 283,075.00
Notes receivable 174,337,095.06 166,131,381.03 72,556,609.11 70,878,563.08
Account receivable 67,321,170.15 364,055.24 22,265,545.83 369,465.04
Advances to suppliers 2,392,735.20 221,466.90 2,361,064.82 1,930,281.52
Premium receivables
Receivables from reinsurers
Reinsurance contract reserve
receivables
Interest receivable
Dividend receivable
Other account receivable 10,929,831.39 163,259,548.00 21,498,541.96 158,191,541.52
Financial assets purchased
under agreements to resell
Inventories 371,248,573.30 346,462,770.06 366,230,129.14 331,899,869.74
Non-current assets due within 1
year
Other current assets
Total current assets 1,085,345,619.18 1,011,486,104.98 846,361,231.53 842,934,866.34
Non-current assets:
Loans and advance
Available for sale financial assets
Held to maturity investments
Long-term account receivable
Long-term equity investment 300,000.00 227,242,761.52 300,000.00 227,242,761.52
Investment real estate 30,685,624.51 30,685,624.51 31,272,097.26 31,272,097.26
Fixed asset 349,792,234.84 123,767,099.57 357,250,551.32 126,593,690.76
Construction in progress 1,064,065.00 805,000.00 3,282,158.21 3,282,158.21
Engineering material 42,500.00 42,500.00 42,500.00 42,500.00
Fixed asset disposal
Bearer biological asset
Oil and gas assets
Intangible assets 82,742,241.84 36,880,075.63 81,882,011.19 35,498,033.88
Development expenseThe First Quarterly Report of Anhui Gujing Distillery Company Limited
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Goodwill
Long-term expense to be
apportioned
Deferred income tax assets 9,330,775.17 6,958,724.20 21,839,993.27 18,947,861.18
Other non-current assets
Total of non-current assets 473,957,441.36 426,381,785.43 495,869,311.25 442,879,102.81
Total assets 1,559,303,060.54 1,437,867,890.41 1,342,230,542.78 1,285,813,969.15
Current liabilities:
Short-term borrowings
Borrowings from Central Bank
Deposits and due to banks and
other financial institutions
Borrowings from banks and
other financial institutions
Transactional financial
liabilities
Notes payable
Accounts payable 47,326,319.56 35,701,799.80 66,328,864.96 62,462,032.03
Advances from customers 133,915,573.60 347,913,192.22 98,300,223.30 252,956,083.41
Financial assets sold under
agreements to repurchase
Handling charges and
commissions payable
Employee’s compensation
payable 112,883,293.78 68,400,287.16 93,609,527.73 63,894,271.86
Taxes and fares payable 186,619,089.64 121,220,733.91 170,539,356.25 107,010,823.86
Interest payable
Dividend payable
Other accounts payable 192,150,429.90 79,995,925.81 97,267,619.61 45,149,908.70
Due to reinsurers
Insurance contract reserve
Amount payable for acting
trading securities
Amount payable for acting
underwriting securities
Non-current liabilities due
within 1 year 5,000,000.00 5,000,000.00
Other current liabilities
Total current liabilities 672,894,706.48 653,231,938.90 531,045,591.85 536,473,119.86
Non-current liabilities:
Long-term borrowings
Debentures payable
Long-term payables
Specific-purpose account
payables
Accrued liabilities
Deferred income tax liabilities
Other non-current liabilities 3,128,750.00 1,918,750.00 3,187,000.00 1,977,000.00
Total non-current liabilities 3,128,750.00 1,918,750.00 3,187,000.00 1,977,000.00
Total liabilities 676,023,456.48 655,150,688.90 534,232,591.85 538,450,119.86The First Quarterly Report of Anhui Gujing Distillery Company Limited
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4.2 Income statement
Prepared by Anhui Gujing Distillery Company Limited Jan .- Mar. 2010 Unit: RMB Yuan
Shareholders’ equity
Share capital 235,000,000.00 235,000,000.00 235,000,000.00 235,000,000.00
Capital surplus 326,064,758.92 288,184,010.28 326,064,758.92 288,184,010.28
Less: Treasury Stock
Special reserve
Surplus reserve 69,977,281.49 64,938,139.66 69,977,281.49 64,938,139.66
General risk provision
Retained earnings 252,237,563.65 194,595,051.57 176,955,910.52 159,241,699.35
Foreign exchange difference
Total owners' equity attributable
to holding company 883,279,604.06 782,717,201.51 807,997,950.93 747,363,849.29
Minority interests
Total owners’ equity 883,279,604.06 782,717,201.51 807,997,950.93 747,363,849.29
Total liabilities and owners’ equity 1,559,303,060.54 1,437,867,890.41 1,342,230,542.78 1,285,813,969.15
Items
Jan.-Mar. 2010 Jan.-Mar. 2009
Consolidation Parent Company Consolidation Parent Company
I. Total operating revenue 566,478,312.99 327,905,847.75 452,936,916.61 254,037,705.45
Including: Sales 566,478,312.99 327,905,847.75 452,936,916.61 254,037,705.45
Interest income
Premium income
Handling charges and commission
income
II. Total operating cost 467,368,972.04 282,863,004.59 417,787,180.79 236,611,649.43
Including: Cost of sales 163,655,228.92 141,931,767.05 214,568,287.22 141,607,330.41
Interest expenses
Handling charges and commission
expenses
Surrender value
Claim expenses-net
Insurance contract reserve-net
Policy dividend payment
Amortized reinsurance expense
Taxes and surcharges 84,753,534.24 80,782,730.70 68,161,313.87 63,414,572.30
Selling and distribution expenses 139,472,551.83 76,754,123.54 178,012.29
Administrative expenses 81,305,983.68 60,827,487.62 55,424,493.68 30,422,094.35
Financial expense -1,818,326.63 -678,980.78 2,879,603.03 989,640.08
Asset impairment loss -640.56
Add: gain/(loss) from change in
fair value (“-” means loss)
Gain/(loss) from investment (“-”
means loss) 232,608.14 177,764.48
Including: income form
investment on affiliated
enterprises and jointly-run
enterpriseThe First Quarterly Report of Anhui Gujing Distillery Company Limited
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4.3 Cash flow statement
Prepared by Anhui Gujing Distillery Company Limited Jan .- Mar. 2010 Unit: RMB Yuan
Foreign exchange difference (“-”
means loss)
III. Business profit (“-” means
loss) 99,341,949.09 45,220,607.64 35,149,735.82 17,426,056.02
Add: Non-operation income 2,476,802.59 2,149,675.56 1,803,890.85 1,119,518.73
Less: Non- operation expense 80,037.10 27,794.00 16,249.88 14,858.00
Including: loss on non-current
asset disposal
IV. Total profit (“-” means loss) 101,738,714.58 47,342,489.20 36,937,376.79 18,530,716.75
Less: Income tax expense 26,457,061.45 11,989,136.98 11,258,829.12
V. Net profit (“-” means loss) 75,281,653.13 35,353,352.22 25,678,547.67 18,530,716.75
Attributable to owners of parent
company 75,281,653.13 35,353,352.22 25,701,235.53 18,530,716.75
Minority interests -22,687.86
VI. Earnings per share
(I) Basic earnings per share 0.32 0.15 0.11 0.08
(II) Diluted earnings per share 0.32 0.15 0.11 0.08
Ⅶ. Other comprehensive income
Ⅷ. Total comprehensive income 75,281,653.13 35,353,352.22 25,678,547.67 18,530,716.75
Attributable to owners of
parent company 75,281,653.13 35,353,352.22 25,701,235.53 18,530,716.75
Attributable to minority
shareholders -22,687.86
Items
Jan.-Mar. 2010 Jan.-Mar. 2009
Consolidation Parent Company Consolidation Parent Company
I. Cash flows from operating
activities:
Cash received from sales of goods
or rending of services 520,156,442.62 358,518,844.04 442,907,497.95 238,103,821.53
Net increase in customer bank
deposits and due to banks and
other financial institutions
Net increase in borrowings from
central bank
Net increase in borrowings from
other financial institutions
Premium received from original
insurance contracts
Net cash received from
reinsurance
Net increase in policy holder
deposits and investment funds
Net increase in disposal of heldfor-
trading financial assets
Interest, handling charges and
commissions received
Net increase in borrowings from
banks and other financial institutiThe First Quarterly Report of Anhui Gujing Distillery Company Limited
8
ons
Net increase in buy-back business
Refund of taxes and fares
received 184,112.19 384,233.71
Other cash received relating to
operating activities 20,996,094.83 4,742,004.85 12,410,436.37 7,959,159.08
Sub-total of cash inflows from
operating activities 541,336,649.64 363,260,848.89 455,702,168.03 246,062,980.61
Cash paid for goods and services 199,671,657.01 171,698,399.40 182,332,950.11 117,747,161.38
Net increase in loans and
advances to customers
Net increase in deposits with
central bank and other financial
institutions
Original insurance contract claims
paid
Cash paid for interest, fees and
commissions
Dividends paid to policyholders
Cash paid to and on behalf of
employees 33,714,288.97 19,572,165.03 84,044,145.50 54,248,227.77
Taxes and fares paid 150,558,596.32 100,743,883.72 142,234,808.84 89,855,835.71
Other cash paid relating to
operating activities 52,446,634.97 7,963,297.91 8,679,969.17 6,556,322.70
Sub-total of cash outflows from
operating activities 436,391,177.27 299,977,746.06 417,291,873.62 268,407,547.56
Net cash flows from operating
activities 104,945,472.37 63,283,102.83 38,410,294.41 -22,344,566.95
II. Cash Flows from Investment
Activities:
Cash received from withdrawing
investments 397,590.00 283,075.00
Cash received from investment
income 232,608.14 177,764.48
Net cash received from disposal
of fixed assets, intangible assets
and other long-term assets
8,000.00 32,558.93
Net proceeds from sale of
subsidiaries and other operating
units
Other cash received relating to
investment activities
Sub-total of cash inflows from
investment activities 638,198.14 460,839.48 32,558.93
Cash paid for acquiring fixed
assets, intangible assets and other
long-term assets
2,440,007.10 2,999,929.00 5,611,491.02 1,937,912.00
Cash paid for investments
Net increase in pledged loans
Net cash used for acquiring
subsidiaries and other operating
units
Other cash paid relating to
investment activities
Sub-total of cash outflows from in 2,440,007.10 2,999,929.00 5,611,491.02 1,937,912.00The First Quarterly Report of Anhui Gujing Distillery Company Limited
9
4.4 Auditor’s report
Auditor’s opinion: un-audited
vestment activities
Net cash flows from investing
activities -1,801,808.96 -2,539,089.52 -5,578,932.09 -1,937,912.00
III. Cash Flows from Financing
Activities:
Cash received from absorbing
investment
Including: Cash received by
subsidiaries from increase in
minority interests
Cash received from borrowings
Cash received from issuing
debentures
Other proceeds relating to
financing activities
Sub-total of cash inflows from
financing activities
Cash paid for settling debts 5,000,000.00 5,000,000.00 45,000,000.00 20,000,000.00
Cash paid for distribution of
dividends or profit or reimbursing
interest
79,200.00 79,200.00 1,019,203.79 947,399.36
Including: dividends or profit paid
by subsidiaries to minority
interests
Other cash payments relating to
financing activities
Sub-total of cash outflows from
financing activities 5,079,200.00 5,079,200.00 46,019,203.79 20,947,399.36
Net cash flows from financing
activities -5,079,200.00 -5,079,200.00 -46,019,203.79 -20,947,399.36
IV. Effect of foreign exchange
rate changes on cash and cash
equivalents
V. Net increase in cash and cash
equivalents 98,064,463.41 55,664,813.31 -13,187,841.47 -45,229,878.31
Add : Cash and cash equivalents
at year-begin 361,051,750.67 279,382,070.44 273,657,327.23 160,876,265.53
VI. Cash and cash equivalents at
the end of the year 459,116,214.08 335,046,883.75 260,469,485.76 115,646,387.22
