Anhui Gujing Distillery Co., Ltd.
The Third Quarterly Report 2010
§1 Important Notice
1.1 The Board of Directors, Board of Supervisors and directors, supervisors, and
senior managers of Anhui Gujing Distillery Co., Ltd. (hereinafter referred to as “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 Financial Report of the third quarterly report has not been audited.
1.3 Mr. Yu Lin, the principal of the Company, Mr. Ye Changqing, 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 report in the third quarterly report 2010.
§2 Company Profile
2.1 Major accounting data and financial indexes
Unit: (RMB) Yuan
30 Sep. 2010 31 Dec. 2009 Increase/decrease (%)
Total assets (Yuan) 1,635,995,493.63 1,342,230,542.78 21.89
Owner’s equity attributable to shareholders of
listed company (Yuan)
868,575,842.25 807,997,950.93 7.50
Share capital (Share) 235,000,000.00 235,000,000.00 0.00
Net assets per share attributable to
shareholders of listed company (Yuan/share)
3.70 3.44 7.56
Jul.-Sep. 2010
Increase/decrease
year-on-year (%)
Jan.-Sep. 2010
Increase/decrease
year-on-year (%)
Operating revenue (Yuan)
389,188,006.9
4
45.91
1,245,535,379.
90
28.14
Net profit attributable to shareholders of listed
company (Yuan)
35,440,901.28 245.13
142,827,891.3
2
211.32
Net cash flows arising from operating
activities (Yuan)
- -
291,632,207.1
7
3.69
Net cash flow per share arising from operating
activities (Yuan/share)
- - 1.24 3.33
Basic earnings per share (Yuan/share) 0.15 275.00 0.61 205.00
Diluted earnings per share (Yuan/share) 0.15 275.00 0.61 205.00
Weighted average return on equity (%) 4.08 2.62 17.04 10.50
Weighted average return on equity after
deducting non-recurring gains and losses (%)
2.70 1.36 15.60 9.722
Items of non-recurring gains and losses Amount from the year-begin to the end of report period Note
Other non-business income and expenditures other
than the above
12,015,223.14
Total 12,015,223.14 -
2.2 Total number of shareholders at the end of the report period and statement on
shares held by the top ten shareholders with shares not subject to trading moratorium
Unit: share
Total number of shareholders at the period-end 14,126
The top ten shareholders holding shares not subject to trading moratorium
Full name of shareholders
Number of shares not subject to trading
moratorium held at the period-end
Type of share
Anhui Gujing Group Co., Ltd. 135,702,011 RMB ordinary share
GUOTAI JUNAN SECURITIES(HONGKONG)
LIMITED
7,385,350 Domestically listed foreign share
Agricultural Bank of China–Soochow Value
Growth Double Power Stock Fund
5,430,771 RMB ordinary share
KGI ASIA LIMITED 4,967,193 Domestically listed foreign share
China Merchants Securities (HK) Co., Ltd. 4,930,970 Domestically listed foreign share
ICBC-Galaxy Yintai Financing Dividend Fund 3,344,868 RMB ordinary share
UBS (LUXEMBOURG) S.A. 2,961,827 Domestically listed foreign share
ICBC-Tianhong Selected Mixed Type Fund 2,735,924 RMB ordinary share
DRAGON BILLION CHINA MASTER FUND 2,095,507 Domestically listed foreign share
BOCI SECURITIES LIMITED 1,824,030 Domestically listed foreign share
§3 Significant Events
3.1 Significant changes in major accounting data, financial highlights and reasons for
these changes
√Applicable □Inapplicable
1. Index of balance sheet
(1) Monetary fund: amount of the period-end increased 53.02% compared with that of
the year-begin, mainly because income increased in the report period;
(2) Notes receivable: amount of the period-end increased 79.95% compared with that
of the year-begin, mainly because income increased in the report period;
(3) Accounts payable: amount of the period-end increased 30.92% compared with that
of the year-begin, mainly because the Company prepared materials in advance due to
saving cost of materials for Mid-Autumn Festival in the report period;
2. Index of income statement
(1) Selling expense: increased 77.58% year-on-year, mainly because the Company
increased market input for enlarging market share in the report period;
(2) Administrative expense: increased 68.74% year-on-year, which was mainly due to
rebuilding factories, repair of equipments and adjustment on proportion of social3
insurance in the report period;
(3) Financial expense: increased 202.97% year-on-year, mainly because of increase of
monetary fund;
(4) Non-operating income: increased 184.48% year-on-year, mainly because the
Company received the compensation for land in the report period, resulting in
influence on gains and losses;
(5) Income tax expense: increased 132.81% year-on-year, mainly because total profit
increased.
3.2 The progress of significant events and its influence, as well as the analysis and
explanation on solutions
3.2.1 About non-standard opinion
□Applicable √Inapplicable
3.2.2 The Company offer capital to the controlling shareholder or other related parties
and provide external guarantees in violation of the prescribed procedures.
□Applicable √Inapplicable
3.2.3 Signing contract and execution of significant contract on routine operation
□Applicable √Inapplicable
3.2.4 Others
□Applicable √Inapplicable
3.3 The fulfillment of the commitment made by the Company, shareholders and the
actual controller
□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 Researches, interviews and visits received in report period
During the report period, the Company did not receive any visitor by means of field
research, telephone communication and written inquiry.
3.6 Derivatives investment
□Applicable √Inapplicable
3.6.1 About position of derivatives investment as at the end of the report period
□Applicable √Inapplicable
§4 Attachments4
4.1 Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited 30 Sep. 2010 Unit: (RMB) Yuan
Items
Closing balance Opening balance
Consolidation Parent company Consolidation Parent company
Current Assets:
Monetary funds 552,495,823.19 428,899,239.99 361,051,750.67 279,382,070.44
Settlement fund reserves
Dismantle funds
Transaction financial
assets
397,590.00 283,075.00
Notes receivable 130,568,154.88 129,813,855.58 72,556,609.11 70,878,563.08
Accounts receivable 27,107,137.21 364,055.24 22,265,545.83 369,465.04
Accounts paid in advance 20,516,408.13 10,764,538.91 2,361,064.82 1,930,281.52
Premiums receivable
Reinsurance premiums
receivable
Reinsurance contract
reserves receivable
Interest receivable
Dividend receivable
Other receivables 25,820,763.92 170,762,354.43 21,498,541.96 158,191,541.52
Buying back the sale of
financial assets
Inventories 424,256,250.36 386,497,754.55 366,230,129.14 331,899,869.74
Non-current assets due
within 1 year
Other current assets
Total current assets 1,180,764,537.69 1,127,101,798.70 846,361,231.53 842,934,866.34
Non-current assets:
Loans and advances
Available-for-sale
financial assets
Held-to-maturity
investments
Long-term accounts
receivable
Long-term equity
investment
227,242,761.52 300,000.00 227,242,761.52
Investing property 32,693,051.25 31,118,846.25 31,272,097.26 31,272,097.26
Fixed assets 335,131,348.79 115,265,499.94 357,250,551.32 126,593,690.76
Construction in progress 10,855,546.33 10,587,589.71 3,282,158.21 3,282,158.21
Engineering materials 42,500.00 42,500.00 42,500.00 42,500.00
Disposal of fixed assets5
Production biological
assets
Oil-gas assets
Intangible assets 72,740,001.79 27,544,143.38 81,882,011.19 35,498,033.88
Development expense
Goodwill
Long-term expense to be
apportion
Deferred income tax assets 3,768,507.78 1,396,456.81 21,839,993.27 18,947,861.18
Other non-current assets
Total non-current assets 455,230,955.94 413,197,797.61 495,869,311.25 442,879,102.81
Total assets 1,635,995,493.63 1,540,299,596.31 1,342,230,542.78 1,285,813,969.15
Current liabilities:
Short-term borrowings
Borrowings from Central
Bank
Deposit and due to bank
and other financial
institutions
Call loans received
Transaction financial
liabilities
Notes payable
Accounts payable 86,837,981.24 73,230,549.41 66,328,864.96 62,462,032.03
Accounts received in
advance
334,575,795.14 533,761,331.58 98,300,223.30 252,956,083.41
Financial assets sold for
repurchase
Handling Expenses and
commission payable
Payroll payable 99,027,591.46 57,868,856.12 93,609,527.73 63,894,271.86
Tax payable 138,160,932.21 89,996,192.93 170,539,356.25 107,010,823.86
Interest payable
Dividend payable
Other payables 105,795,101.33 44,427,256.18 97,267,619.61 45,149,908.70
Due to reinsurance
Insurance contract
reserves
Money paid for acting
trading of securities
Money paid for acting
underwriting of securities
Non-current liabilities due 5,000,000.00 5,000,000.006
within one year
Other current liabilities
Total current liabilities 764,397,401.38 799,284,186.22 531,045,591.85 536,473,119.86
Non-current liabilities:
Long-term borrowings
Bonds payable
Long-term accounts
payable
Special accounts payable
Predict liabilities
Deferred income tax
liabilities
Other non-current
liabilities
3,022,250.00 1,812,250.00 3,187,000.00 1,977,000.00
Total non-current liabilities 3,022,250.00 1,812,250.00 3,187,000.00 1,977,000.00
Total liabilities 767,419,651.38 801,096,436.22 534,232,591.85 538,450,119.86
Owners’ equity (or
shareholders’ equity)
Paid-up capital (or share
capital)
235,000,000.00 235,000,000.00 235,000,000.00 235,000,000.00
Capital reserves 326,064,758.92 288,184,010.28 326,064,758.92 288,184,010.28
Less: treasury share
Special reserves
Surplus reserves 69,977,281.49 64,938,139.66 69,977,281.49 64,938,139.66
General risks provision
Retained profits 237,533,801.84 151,081,010.15 176,955,910.52 159,241,699.35
Foreign exchange
difference
Total owners' equity
attributable to parent
company
868,575,842.25 739,203,160.09 807,997,950.93 747,363,849.29
Minority interests
Total owners’ equity 868,575,842.25 739,203,160.09 807,997,950.93 747,363,849.29
Total liabilities and owners’
equity
1,635,995,493.63 1,540,299,596.31 1,342,230,542.78 1,285,813,969.15
4.2 Income statement as of this report period
Prepared by Anhui Gujing Distillery Company Limited Jul.-Sep. 2010 Unit: (RMB) Yuan
Items
Current period Last period
Consolidation Parent company Consolidation Parent company
I. Total operating revenue 389,188,006.94 225,109,797.74 266,729,235.79 155,750,897.70
Including: Operating revenue 389,188,006.94 225,109,797.74 266,729,235.79 155,750,897.70
Interest income7
Premium income
Charges and commission
income
II. Total operating cost 343,995,427.67 201,266,953.84 252,011,460.61 182,391,590.60
Including: Operating cost 122,252,811.86 118,303,337.16 107,999,134.47 123,915,313.13
Interest expenses
Service charges and
commission expenses
Cash surrender value
Net claim paid
Net reserves for
withdrawn of insurance
contract
Policyholder dividend
expense
Reinsurance expense
Business tax and
surcharges
53,873,396.73 50,530,109.52 37,432,630.18 35,481,191.44
Selling expense 114,336,215.69 51,923,850.29 99,395.46
Administrative expense 70,453,023.28 48,870,891.01 55,112,376.07 23,065,586.18
Financial expense -1,670,692.75 -1,188,056.71 41,031.07 327,665.86
Impairment loss -15,249,327.14 -15,249,327.14 -497,561.47 -497,561.47
Add: Gains and losses
from changes in fair
value(“-”means loss)
Gains/losses from
investment (“-”means loss)
103,305.94 8,078,441.21 28,252,318.50
Including: income from
associated enterprises and
jointly-run enterprises
Gains/losses in
exchange
III. Operating profit
(“-”means loss)
45,295,885.21 31,921,285.11 14,717,775.18 1,611,625.60
Add: Non-operating
income
6,537,271.36 2,947,545.70 2,448,103.90 878,521.17
Less: Non-operating
expense
2,174,140.59 414,915.86 299,419.70
Including: Loss on
disposal of non-current assets
274,134.28 258,547.41
IV. Total profit (“-”means
loss)
49,659,015.98 34,868,830.81 16,750,963.22 2,190,727.07
Less: Income tax expense 14,218,114.70 7,643,307.70 6,469,965.538
V. Net profit (“-”means loss) 35,440,901.28 27,225,523.11 10,280,997.69 2,190,727.07
Attributable to owners of
parent company
35,440,901.28 27,225,523.11 10,268,789.09 2,190,727.07
Minority interest 12,208.60
VI. Earnings per share:
(I) Basic earnings per
share
0.15 0.12 0.04 0.01
(II) Diluted earnings per
share
0.15 0.12 0.04 0.01
VII. Other comprehensive
incomes
0.00 0.00
VIII. Total comprehensive
income
35,440,901.28 27,225,523.11 10,280,997.69 2,190,727.07
Attributable to owners of
parent company
35,440,901.28 27,225,523.11 10,268,789.09 2,190,727.07
Minority interest 12,208.60
4.3 Income statement for the period from the year-begin to the end of the report period
Prepared by Anhui Gujing Distillery Company Limited Jan.-Sep. 2010 Unit: (RMB) Yuan
Items
Current period Last period
Consolidation Parent company Consolidation Parent company
I. Total operating revenue 1,245,535,379.90 719,893,735.46 972,006,529.84 532,924,515.87
Including: Operating revenue 1,245,535,379.90 719,893,735.46 972,006,529.84 532,924,515.87
Interest income
Premium income
Charges and commission
income
II. Total operating cost 1,063,457,729.79 639,521,711.43 908,409,488.05 543,622,319.42
Including: Operating cost 364,041,229.40 330,335,551.83 451,336,383.45 345,090,864.91
Interest expenses
Service charges and
commission expenses
Cash surrender value
Net claim paid
Net reserves for
withdrawn of insurance
contract
Policyholder dividend
expense
Reinsurance expense
Business tax and
surcharges
183,377,061.73 172,431,855.54 138,329,382.28 128,575,340.67
Selling expense 313,876,643.31 176,752,814.01 414,640.959
Administrative expense 222,376,112.51 154,873,703.69 131,782,472.33 62,714,132.53
Financial expense -5,318,203.52 -3,224,285.99 5,164,893.92 1,783,798.30
Impairment loss -14,895,113.64 -14,895,113.64 5,043,542.06 5,043,542.06
Add: Gains and losses
from changes in fair
value(“-”means loss)
Gains/losses from
investment (“-”means loss)
982,590.49 8,724,094.86 48,576,316.23
Including: income from
associated enterprises and
jointly-run enterprises
Gains/losses in
exchange
III. Operating profit
(“-”means loss)
183,060,240.60 89,096,118.89 63,597,041.79 37,878,512.68
Add: Non-operating
income
15,714,385.62 10,750,103.46 5,523,961.47 2,635,577.57
Less: Non-operating
expense
3,699,162.48 1,466,135.05 843,366.28 342,700.67
Including: Loss on
disposal of non-current assets
1,394,204.42 27,794.00 575,468.34 286,970.38
IV. Total profit (“-”means
loss)
195,075,463.74 98,380,087.30 68,277,636.98 40,171,389.58
Less: Income tax expense 52,247,572.42 24,290,776.50 22,442,437.30
V. Net profit (“-”means loss) 142,827,891.32 74,089,310.80 45,835,199.68 40,171,389.58
Attributable to owners of
parent company
142,827,891.32 74,089,310.80 45,877,984.02 40,171,389.58
Minority interest -42,784.34
VI. Earnings per share:
(I) Basic earnings per
share
0.61 0.32 0.20 0.17
(II) Diluted earnings per
share
0.61 0.32 0.20 0.17
VII. Other comprehensive
incomes
0.00 0.00
VIII. Total comprehensive
income
142,827,891.32 74,089,310.80 45,835,199.68 40,171,389.58
Attributable to owners of
parent company
142,827,891.32 74,089,310.80 45,877,984.02 40,171,389.58
Minority interest -42,784.34
4.4 Cash flow statement for the period from the year-begin to the end of the report period
Prepared by Anhui Gujing Distillery Company Limited Jan.-Sep. 2010 Unit: (RMB) Yuan10
Items
Current period Last period
Consolidation Parent company Consolidation Parent company
I. Cash flow arising from
operating activities:
Cash received from sales of
commodities and rendering of
service
1,278,479,212.13 837,242,664.86 1,213,302,552.65 611,521,683.56
Net increase in deposit from
customers and due from banks
Net increase in loans from
central bank
Net increase in loans from
other financial institutions
Cash received from
premiums of original insurance
contracts
Net cash received from
reinsurance business
Net increase in deposit from
insured and investment funds
Net increase in disposals of
transactional financial assets
Cash from interest, handling
charges and commissions
Net increase in loans from
other bank
Net increase in buying back
business
Refunds on tax 1,341,681.06 1,424,743.78
Cash received from other
related operating activities
55,659,503.36 20,227,943.12 22,230,429.35 15,707,686.72
Sub-total cash inflows from
other operating activities
1,335,480,396.55 857,470,607.98 1,236,957,725.78 627,229,370.28
Cash paid for purchase of
goods and reception of services
395,665,651.63 256,462,222.02 437,030,153.47 211,756,311.94
Net increase in customer
lending and advances
Net increase in funds
deposited in central bank and
due from banks
Cash for paying claims for
original insurance contact
Cash for paying interest,
handling charges and11
commissions
Cash for paying policy
dividends
Cash paid to and for
employees
138,994,805.20 83,288,877.29 166,697,373.58 83,614,926.82
All types of taxes paid 412,992,928.99 271,978,152.74 327,513,832.68 208,384,380.24
Cash for other operating
activities
96,194,803.56 17,967,888.45 24,468,287.87 91,794,529.81
Sub-total of cash outflows
in operating activities
1,043,848,189.38 629,697,140.50 955,709,647.60 595,550,148.81
Net cash flow in operating
activities
291,632,207.17 227,773,467.48 281,248,078.18 31,679,221.47
Ⅱ . Cash flows from
investment activities
Cash received from
withdrawal of investments
Investment income 982,590.49 8,724,094.86
Net cash received from
disposal of fixed assets,
intangible assets and other
long-term assets
14,215,842.23 14,207,842.23 320,942.78 34,447.44
Net cash received from
disposal of subsidiary and other
operating units
Other investment activities
Sub-total of cash inflows of
investment
15,198,432.72 22,931,937.09 320,942.78 34,447.44
Cash paid for the purchase
and construction of fixed
assets, intangible assets and
other long-term assets
27,777,939.79 13,579,607.44 17,016,666.97 4,264,175.57
Cash paid for investment 36,818,512.53 14,700,200.00
Net increase in pledged loans
Net cash paid to acquire
subsidiaries and other operating
units
Cash for other related
investment activities
Sub-total of cash outflows
for investment activities
27,777,939.79 13,579,607.44 53,835,179.50 18,964,375.57
Net cash flows in
investment activities
-12,579,507.07 9,352,329.65 -53,514,236.72 -18,929,928.13
Ⅲ . Cash flows from financing
activities12
Cash received from capital
contribution
Including: Cash received
from minority shareholders’
investment of subsidiary
Cash received from
borrowings
Cash received from bonds
issuing
Cash received from other
financing activities
Sub-total of cash inflows
Cash paid for liabilities 5,000,000.00 5,000,000.00 217,000,000.00 40,000,000.00
Cash paid for dividends,
profit or interest expenses
82,608,627.58 82,608,627.58 5,856,960.79 1,100,899.00
Including: stock dividends
and profits paid to minority
shareholders by subsidiaries
Cash paid to other relating
financing activities
Sub-total of cash outflows
in financing activities
87,608,627.58 87,608,627.58 222,856,960.79 41,100,899.00
Net cash flow in financing
activities
-87,608,627.58 -87,608,627.58 -222,856,960.79 -41,100,899.00
IV. Impact of exchange
fluctuation on cash and cash
equivalents
V. Net increase of cash and
cash equivalents
191,444,072.52 149,517,169.55 4,876,880.67 -28,351,605.66
Add: Balance of beginning
cash and cash equivalents
361,051,750.67 279,382,070.44 278,780,676.68 160,876,265.53
VI. Balance of cash and cash
equivalents at the period-end
552,495,823.19 428,899,239.99 283,657,557.35 132,524,659.87
4.5 Audit Report
Auditor’s opinion: un-audited
