YANTAI CHANGYU PIONEER WINE COMPANY
LIMITED
The 3rd Quarter Report of 2010
1. Important
1.1 The Board of Directors, board of Supervisors, senior managers of the
Company collectively and individually accept full responsibility for the
truthfulness, accuracy and completeness of the information contained in
this report and confirm that to the best of their knowledge and belief there
are no other facts the omission of which would make any statement herein
misleading.
1.2 No directors, supervisors or senior managers can not ensure the
truthfulness, accuracy and completeness, or have any dissidence to this
report.
1.3 All directors attended the Board of Directors’ meeting to deliberate this
report.
1.4 The 3rd quarter report of 2010 has not been audited.
1.5 The chairman of the Board of Directors Mr. Sun Liqiang, the chief
accountant Mr. Leng Bin and the chief of accounting department Mr. Jiang
Jianxun assure the truth and integrity of the financial and accounting
statement in this report.2. THE BASIC INFORMATION OF THE COMPANY
2.1 Main accountant data and Financial index
Unit: CNY
Sep. 30, 2010 Dec.31, 2010 More or less (%)
Total assets 5,208,747,950.00 5,364,160,798.00 -2.90%
Owner’s equity attributed to
shareholders of listing
company
3,296,891,746.00 3,038,226,013.00 8.51%
Share capital (share) 527,280,000.00 527,280,000.00 0.00%
Net asset per share
attributed to shareholders of
listing company
6.25 5.76 8.51%
July to Sep.,
2010
More or less
compared with
same period of
last year (%)
Jan. to Sep.,
2010
More or less
compared
with same
period of last
year (%)
Total operation revenue 1,088,726,941.00 10.95% 3,570,612,075.00 21.01%
Net profit attributed to
shareholders of listing
company
298,823,242.00 9.86% 891,401,733.00 22.58%
Net cash flow from operating
activities
- - 878,250,217.00 -17.60%
Net cash flow per share from
operating activities
- - 1.67 -17.33%
Basic earnings per Share 0.57 9.62% 1.69 22.46%
Diluted earnings per Share 0.57 9.62% 1.69 22.46%
Weighted average rate of net
assets return
9.13% -1.18% 27.23% -0.34%
Weighted average rate of net
assets return after deducting
irregualr profit and loss
9.13% -0.95% 27.10% 0.00%
Item for irregular profit and losss
Item for irregular profit
and loss
From Jan. 1st 2010 to end
of report period
Remark
Profit and loss on entrusting
others to invest or manage
assets
523,547.00 -
profit and loss from other
non-business activities
7,729,934.00 -
Effect index for the income
tax
-2,063,370.00 -
effect index for minority
shareholders’ equity
-1,829,735.00 -
Total 4,360,376.00 -2.2 The total number of the shareholders and top 10 shareholders
with unlimited shares at the end of the report period
Unit:share
Total number of shareholders Totally 11501 shareholders,
including 6745 shareholders for A
share, 4756 shareholdesr for B share
The top 10 shareholders with unlimited shares
Name of Shareholders Number of
unlimited shares
Type of
shares
YANTAI CHANGYU GROUP CO.,LTD. 265,749,120 A share
HTHK/CMG FSGUFP-CMG FIRST STATE CHINA
GROWTH FD
21,019,204 B share
GAOLING FUND,L.P. 13,719,554 B share
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 8,246,082 B share
GOVERNMENT OF SINGAPORE INV. CORP.- A/C "C" 5,377,239 B share
UBS (LUXEMBOURG) S.A. 4,504,590 B share
MIRAE ASSET CHINA SOLOMON EQUITY
INVESTMENT TRUST 1
3,974,716 B share
CHINA UNIVERSAL GROWTH FOCUS
SECURITIES-ORIENTED
CAPITAL FUND
3,765,883 A share
HTHK-MANULIFE CHINA VALUE FUND 3,579,270 B share
TAIKANG LIFE INSURANCE CO. LTD. 3,539,335 A share
3. MAJOR ISSUES
3.1 The great change and reasons on main accountant data and
financial Index
(√ ) applicable
At end of report period, the Company’s prepayments increased by 169.40% mainly due to the
prepayment on grape purchase, other accounts receivable increased by 139.71% mainly due
to the imprest growth on staff for business trip.
During report period, the sales tax and surcharges increased by 30.07% compared with same
period of last year, mainly caused by the growth on principal business income, the investment
proceeds dropped by 57.22% because the investment proceeds from IPO share decreased
compared with last report period.
3.2 Analysis and explanation on the situation, impact and solution of
other major issues
3.2.1 non-standard comment
( √ ) not applicable3.2.2 The information about the Company to offer capital to its
controlling shareholder or any related party, or privide any guarantee
outside in violation of regulations
( √ ) not applicable
3.2.3 The signing and fulfillment of major contracts for daily operations
( √ ) not applicable
3.2.3 Others
( √ ) applicable
During report period, approved by the 3rd preliminary shareholders’ meeting of 2010, the
Company stopped the investment to Evergrowing Bank with own fund for CNY1.02 billion.
3.3 The execution of promised issues by the company, shareholders
and actual controller
( √ )applicable
Promisted issue Promisee Promised content Execution
Promise for
capital reform
Changyu
Group
In addition to the statutory minimum commitments,
Changyu Group also made special promises as
following:
(1) The shares of the Company held by Group
Company will not be listed and transferred within 36
months from the date for obtaining the listing right.
(2) Within 12 months at the expiration of the
guaranteed period mentioned above, the proportion
for shares sold out as non-listed shares initially
through stock exchange in total shares of Group
Company is less than 5%, and 10% for that within 24
months at the expiration of the guaranteed period.
(3) Group Company also promised to submit the
proposal in its shareholders’ meeting 2005, 2006 and
2007 which suggest the cash dividends proportion as
more than 65% of distributable profits made in same
year, and guarantee to approve of the proposal during
the meeting.
Changyu
Group has
already
voted for
the annual
profit
distribution
plan in
shareholder
s’ meeting
2005,2006
and 2007.
Promise in
acquisition
report or equity
change report
- - -
Promise for
significant
assets reform
- - -
Promise on
shares issuing
Changyu
Group
Changyu Group will not engage in any business
leading to any industry competition with the
Company.
Yantai
Group is
strictly
abiding by
its promise.
Other promises
including
Changyu
Group
Changyu Group has acknowledged all related rules
and regulations in Securities Law, Acquisition
Changyu
Group hasadditional
promises
management practices of listed companies, guidance
on transfer of releasing shares on sale restrictions of
listed companies and Shenzhen Stock Exchange, and
will strictly abide by all related rules and regulations
in accordance with above documents when the
limited shares are released and sold in the future.
The Changyu Group will faithfully fulfill all the
promises mentioned above, and bear the legal
responsibilities correspondingly.
already
abided by
its
promises.
3.4 Warning and explanation for the estimation on the possible loss of
total net profit in the period from the beginning of this year to the end
of the next report period or the great change comparing with same
period of last year.
( √ ) not applicable
3.5 Other major issues
3.5.1 Securities investment
( √ ) applicable
item type Code Ab. Initial
investment
(CNY)
Share
quantity
(share)
Book value at
end of report
period
Proportion on
total securities
investiment(%)
Profit and
loss during
report period
1 - - - 0.00 0 0.00 0.00 0.00
Other securities investment
by end of report period
0.00 - 0.00 0.00 0.00
Profit and loss on securites
sold during report period
- - - - 52.35
Total 0.00 - 0.00 100 52.35
Information on securities investment
During report period, the Company gained the yield of CNY523,500 from selling the alloted
IPO shares. In addition, the Company did not hold any share equity of other listed company,
nor invest in any financial enterprise such as commercial bank, securities company, insurance
company, trust company or futures company.
3.5.2 The Company’s Receptions, Studies and Visits during report
period
Reception date Reception place Reception way Visitor Main topic and
material
provided
July 1, 2010 Meeting room of
the Company
Field survey GTJA Allianz Funds Principal operation,
future development
July 1, 2010 Meeting room of
the Company
Field survey CITIC-PRUDENTIAL
FUND
Principal operation,
future development
July 1, 2010 Meeting room of
the Company
Field survey Penghua Fund Principal operation,
future development
July 1, 2010 Meeting room of
the Company
Field survey Galaxy Asset
Management
Principal operation,
future developmentJuly 5, 2010 Meeting room of
the Company
Field survey Wanjia Asset
Management
Principal operation,
future development
July 5, 2010 Meeting room of
the Company
Field survey UBS SDIC Principal operation,
future development
July 10, 2010 Meeting room of
the Company
Field survey Guanya Investment Principal operation,
future development
July 10, 2010 Meeting room of
the Company
Field survey Shibei Capital Principal operation,
future development
July 10, 2010 Meeting room of
the Company
Field survey China Capital
Investment
Principal operation,
future development
July 10, 2010 Meeting room of
the Company
Field survey Guotai AMC Principal operation,
future development
Aug. 1, 2010 Meeting room of
the Company
Field survey Fortune SGAM Fund Principal operation,
future development
Aug.10,2010 Meeting room of
the Company
Field survey Bank of
Communications
Schroder Fund
Principal operation,
future development
Aug.21,2010 Meeting room of
the Company
Field survey CITIC Securites
International
Principal operation,
future development
Aug.25,2010 Meeting room of
the Company
Field survey Heqi Investment Principal operation,
future development
Aug.25,2010 Meeting room of
the Company
Field survey HFT Investment Principal operation,
future development
Sep.2,2010 Meeting room of
the Company
Field survey Changjiang
Securities
Principal operation,
future development
Sep.7,2010 Meeting room of
the Company
Field survey COMGEST Principal operation,
future development
Sep.8,2010 Meeting room of
the Company
Field survey China Merchants
Fund
Principal operation,
future development
Sep.9,2010 Meeting room of
the Company
Field survey Zhonghai Fund Principal operation,
future development
Sep.10,2010 Meeting room of
the Company
Field survey Western Securities Principal operation,
future development
Sep.13,2010 Meeting room of
the Company
Field survey Hua An Funds Principal operation,
future development
Sep.17, 2010 Meeting room of
the Company
Field survey Rongtong Fund Principal operation,
future development
3.6 Investment on financial derivatives
( √ ) not applicable
3.6.1 Investment on financial derivatives at end of report period
( √ ) not applicable
4. appendix4.1 Balance Sheet
Yantai Changyu Pioneer Wine Co., Ltd. 2010.09.30 Unit: CNY
Amount at the end of the report period Amount at the beginning of the year
Item Consolidated
amount
Parent company
amount
Consolidated
amount
Parent company
amount
Current assets：
Monetary fund 2,252,055,903.00 1,654,490,781.00 2,545,210,286.00 1,701,195,926.00
Settlement provisions
Placements
Financial assets for trade
Notes receivable 45,305,302.00 14,247,386.00 38,107,831.00 12,294,221.00
Account receivable 94,108,109.00 12,261,439.00 98,022,443.00 13,163,722.00
Advance money 85,899,712.00 66,875,724.00 31,885,027.00 19,918,724.00
Premiums receivable
Reinsurance receivables
Reinsurance contract reserve
Interest receivalbe 8,126,310.00 8,126,310.00 8,969,343.00 8,969,343.00
Dividend receivable 447,429,274.00
Other account receivable 53,753,665.00 460,299,800.00 22,424,303.00 633,416,634.00
Financial assets purchased under resale
Inventories 942,118,592.00 433,589,486.00 1,131,240,892.00 467,402,171.00
Non-current assets due within one year
Other current assets 1,435,747.00 1,104,453.00
Total current assets 3,482,803,340.00 2,649,890,926.00 3,876,964,578.00 3,303,790,015.00
Non-current assets：
Loans and advances
Financial assets for sale
Investment held to expiration
Long-term account receivable
Long-term equity investment 10,000,000.00 339,755,678.00 10,000,000.00 229,077,178.00
Real estate for investment
Fixed assets 1,089,380,015.00 310,882,554.00 996,792,865.00 331,281,278.00
Construction in progress 185,105,727.00 16,991,042.00 109,372,318.00 2,234,216.00
Project material 395,114.00
Liquidation of fixed assets
Biological assets for production 39,541,773.00 11,004,467.00 39,717,396.00 11,444,646.00
Oil and gas assets
Intangible assets 161,918,626.00 94,173,920.00 147,509,555.00 90,579,308.00
Development expenditure
Goodwill
Long-term deferred expenses 106,251,518.00 38,956,022.00
Assets of deferred income tax 128,651,705.00 25,112,956.00 139,267,274.00 26,315,465.00
Other non-current assets 4,700,132.00 5,052,421.00 5,580,790.00 5,544,630.00
Total non-current assets 1,725,944,610.00 802,973,038.00 1,487,196,220.00 696,476,721.00
Total assets 5,208,747,950.00 3,452,863,964.00 5,364,160,798.00 4,000,266,736.00Current liabilities：
Short-term loan 224,500,000.00 220,000,000.00
The central bank borrowings
Deposits and interbank deposit
Borrowing money
Financial liabilities for trade
Notes payable
Accounts payable 231,644,672.00 138,224,004.00 343,079,052.00 232,881,603.00
Advance money 287,911,284.00 371,221,002.00
Financial assets sold under repurchase agreements
Handling charges and commission
Wage payable 115,641,379.00 121,289,087.00 176,980,999.00 112,116,156.00
Tax payable 517,562,618.00 104,145,925.00 556,959,447.00 115,867,141.00
Interest payable 605,030.00 605,030.00
Dividend payable 2,353,107.00
Other accounts payable 577,104,621.00 589,676,581.00 477,048,092.00 219,943,753.00
Due to reinsurers
Insurance contract
Acting trading securities
Securities underwriting agent
Non-current liabilities due within one year
Other current liabilities
Total current liabilities 1,732,217,681.00 953,335,597.00 2,150,393,622.00 901,413,683.00
Non-current liabilities：
Long-term loan 10,500,000.00
Bond payable
Long-term accounts payable
Special accounts payable
Estimated liabilities
Liabilities of deferred income tax 5,336,115.00 5,336,115.00
Other non-current liabilities 23,250,000.00 13,350,000.00 23,250,000.00 13,350,000.00
Total non-current liabilities 28,586,115.00 13,350,000.00 39,086,115.00 13,350,000.00
Total liabilities 1,760,803,796.00 966,685,597.00 2,189,479,737.00 914,763,683.00
Shareholder rights and interests：
Capital stock 527,280,000.00 527,280,000.00 527,280,000.00 527,280,000.00
Capital reserve 557,222,454.00 557,222,454.00 557,222,454.00 557,222,454.00
Less: treasury stock
Special Reserve
Surplus reserve 295,942,630.00 295,942,630.00 295,942,630.00 295,942,630.00
General risk reserve
Undistributed profit 1,916,446,662.00 1,105,733,283.00 1,657,780,929.00 1,705,057,969.00
Currency translation differences
Total shareholder rights and interests of parent
company
3,296,891,746.00 2,486,178,367.00 3,038,226,013.00 3,085,503,053.00
Minority shareholder rights and interests 151,052,408.00 136,455,048.00
Total shareholder rights and interests 3,447,944,154.00 2,486,178,367.00 3,174,681,061.00 3,085,503,053.00
Liabilites and total shareholders rights and interests 5,208,747,950.00 3,452,863,964.00 5,364,160,798.00 4,000,266,736.004.2 Profit Statement for Report Period
Yantai Changyu Pioneer Wine Co., Ltd. July-September 2010 Unit: CNY
Amount of the report period Amount of the last period
Item Consolidated
amount
Parent company
amount
Consolidated
amount
Parent company
amount
1. Total operating income 1,088,726,941.00 324,178,221.00 981,241,847.00 350,972,907.00
Business income 1,088,726,941.00 324,178,221.00 981,241,847.00 350,972,907.00
Interest income
Earned premiums
Fee and commission income
2. Total operating costs 669,062,708.00 311,177,549.00 631,566,435.00 349,379,129.00
Operating costs 315,882,520.00 261,728,743.00 292,745,406.00 265,401,112.00
Interest expense
Fee and commission expense
Surrender payment
Net claims paid
Net provisions for insurance contract
Policyholder dividends
Reinsurance costs
Business tax and associate charges 73,281,353.00 37,194,718.00 60,205,889.00 44,427,748.00
Sales expenses 259,583,989.00 252,965,274.00
Management expenses 33,933,757.00 28,320,816.00 32,356,195.00 47,758,463.00
Financial expenses -13,618,912.00 -16,066,727.00 -6,706,329.00 -8,208,194.00
Assets depreciation loss
Add: fair value charge profit (loss is listed
with "-")
Investment profit (loss is listed with "-") 94,440.00 94,440.00 1,223,734.00 9,723,734.00
Including: investment profit for joint-run
business and joint venture
Exchange gains (loss is listed with "-")
3. Operating profit (loss is listed with "-") 419,758,673.00 13,095,112.00 350,899,146.00 11,317,512.00
Add: Non-operating income 3,329,938.00 57,468.00 8,239,032.00 339,275.00
Less: non-operating expenditures 51,756.00 5,186.00 115,478.00 65,143.00
Including: non-current assets disposing loss
4. Total profit ( total loss is listed with "-") 423,036,855.00 13,147,394.00 359,022,700.00 11,591,644.00
Less: income tax expenses 109,885,157.00 777,948.00 84,721,205.00 656,437.00
5. Net profit (net loss is listed with "-") 313,151,698.00 12,369,446.00 274,301,495.00 10,935,207.00
Net profit of parent company's owners 298,823,242.00 12,369,446.00 271,992,830.00 10,935,207.00
Minority shareholder profit and loss 14,328,456.00 2,308,665.00
6. EPS
Basic EPS 0.57 0.02 0.52 0.02
Diluted EPS 0.57 0.02 0.52 0.02
7. Other comprehensive income 0.00 0.00
8. Total comprehensive income 313,151,698.00 12,369,446.00 274,301,495.00 10,935,207.00
Total comprehensive income attributed to the
equity holders of parent company
298,823,242.00 12,369,446.00 271,992,830.00 10,935,207.00
Total comprehensive income attributed to the
minority shareholders
14,328,456.00 2,308,665.004.3 Profit Statement from the beginning of the year to the end of the
report Period
Yantai Changyu Pioneer Wine Co., Ltd. January-September 2010 Unit: CNY
Amount of the report period Amount of the last period
Item Consolidated
amount
Parent company
amount
Consolidated
amount
Parent
company
amount
1. Total operating income 3,570,612,075.00 1,070,586,358.00 2,950,668,008.00 820,379,148.00
Business income 3,570,612,075.00 1,070,586,358.00 2,950,668,008.00 820,379,148.00
Interest income
Earned premiums
Fee and commission income
2. Total operating costs 2,376,585,939.00 1,015,250,570.00 2,003,461,069.00 795,008,029.00
Operating costs 1,013,786,924.00 815,856,293.00 882,157,615.00 617,772,048.00
Interest expense
Fee and commission expense
Surrender payment
Net claims paid
Net provisions for insurance contract
Policyholder dividends
Reinsurance costs
Business tax and associate charges 217,235,900.00 121,483,072.00 167,008,419.00 100,302,787.00
Sales expenses 1,020,496,402.00 837,306,257.00
Management expenses 144,155,917.00 103,650,022.00 138,817,469.00 104,388,709.00
Financial expenses -19,089,205.00 -25,738,816.00 -21,828,691.00 -27,455,515.00
Assets depreciation loss
Add: fair value charge profit (loss is listed with "-")
Investment profit (loss is listed with "-") 523,547.00 523,547.00 1,223,734.00 161,440,793.00
Including: investment profit for joint-run business and
joint venture
Exchange gains (loss is listed with "-")
3. Operating profit (loss is listed with "-") 1,194,549,683.00 55,859,335.00 948,430,673.00 186,811,912.00
Add: Non-operating income 8,353,880.00 266,922.00 16,663,786.00 1,008,519.00
Less: non-operating expenditures 623,946.00 10,418.00 161,831.00 85,913.00
Including: non-current assets disposing loss
4. Total profit ( total loss is listed with "-") 1,202,279,617.00 56,115,839.00 964,932,628.00 187,734,518.00
Less: income tax expenses 296,280,524.00 22,704,525.00 234,346,678.00 7,534,691.00
5. Net profit (net loss is listed with "-") 905,999,093.00 33,411,314.00 730,585,950.00 180,199,827.00
Net profit of parent company's owners 891,401,733.00 33,411,314.00 727,228,121.00 180,199,827.00
Minority shareholder profit and loss 14,597,360.00 3,357,829.00
6. EPS
Basic EPS 1.69 0.06 1.38 0.34
Diluted EPS 1.69 0.06 1.38 0.34
7. Other comprehensive income 0.00 0.00
8. Total comprehensive income 905,999,093.00 33,411,314.00 730,585,950.00 180,199,827.00
Total comprehensive income attributed to the equity
holders of parent company
891,401,733.00 33,411,314.00 727,228,121.00 180,199,827.00
Total comprehensive income attributed to the minority
shareholders
14,597,360.00 3,357,829.004.4 Cash Flow Statement from the beginning of the year to the end of
the report Period
Yantai Changyu Pioneer Wine Co., Ltd. January-September 2010 Unit: CNY
Amount of the report period Amount of the last period
Item Consolidated
amount
Parent company
amount
Consolidated
amount
Parent
company
amount
1. Cash flows from operating activities:
Cash received from sales of goods and rending of services 4,091,023,274.00 1,251,535,157.00 3,576,476,173.00 958,818,493.00
Net increase of customer deposits and interbank deposit
Net increase in borrowings from the central bank
Net increase of capital borrowed from other financial
institutions
Cash received from the original insurance contract
Net cash received from reinsurance business
Net increase in insured deposits and investments
Net increase in disposal of financial assets
Interest charges, fees and commissions
Net increase in capital borrowed
Net increase in repurchase operations funds
Tax refund received 33,952,254.00 17,233,683.00 6,904,140.00 3,264,140.00
Other cash received related to operating activities 161,601,597.00 543,116,584.00 171,904,016.00 479,768,745.00
Subtotal of cash flows of operating activities
4,286,577,125.00 1,811,885,424.00 3,755,284,329.00
1,441,851,378.0
0
Cash paid for goods and services 1,286,066,891.00 920,237,925.00 1,146,173,905.00 704,364,443.00
Net increase in loans and advances
Net increase on central bank and interbank
Cash payments on the original insurance contract
Cash on payment of interest, fee and commissions
Cash dividends paid to policyholders
Cash paid to and on behalf of employees 253,054,341.00 148,846,328.00 175,665,303.00 73,901,001.00
Cash paid for taxes and expenses 1,038,949,523.00 243,163,188.00 795,405,370.00 166,860,556.00
Other cash paid related to operating activities 830,256,153.00 19,802,466.00 572,175,715.00 39,931,149.00
Sub-total of cash outflows of operating activities 3,408,326,908.00 1,332,049,907.00 2,689,420,293.00 985,057,149.00
Net cash flow from operating activities 878,250,217.00 479,835,517.00 1,065,864,036.00 456,794,229.00
2. Cash flow from investing activities:
Cash received from return of investment
Fixed deposit with the term of over 3 months 379,819,840.00 357,819,840.00
Cash received from obtaining investment profit 523,547.00 447,952,821.00 1,223,734.00 161,440,793.00
Cash received from interest income 8,995,699.00 8,995,699.00 27,307,980.00 27,256,230.00
Net cash received from disposal of fixed assets, intangible
assets and other long-term assets
Net cash received from disposal of branch and other
business unit
Other cash received related to investing activities
Subtotal of cash flows of investment activities 9,519,246.00 456,948,520.00 408,351,554.00 546,516,863.00
Cash paid to acquire fixed assets, intangible assets and
other long-term assets
315,401,701.00 22,986,608.00 247,253,352.00 7,803,577.00
Fixed deposit with the term of over 3 months 5,829,054.00 10,829,054.00
Cash for investment 106,000,000.00
Net increase in secured loans
Net cash paid to acquire branch and other business unit 57,789,176.00Other cash paid related to investment activities
Subtotal of cash outflows of investment activities 321,230,755.00 139,815,662.00 247,253,352.00 65,592,753.00
Net cash flow from investing activites -311,711,509.00 317,132,858.00 161,098,202.00 480,924,110.00
3. Cash flow from financing activites
Cash received from acquiring investment
Including: cash received from acquiring minority
shareholders investment by branch
Cash received from acquiring loans
Cash received from issuance of bonds
Other cash received related to finaning activities
Subtotal cash flows of financing activities
Cash paid to pay debts 224,500,000.00 220,000,000.00
Cash paid to distribute dividend, profit or pay interest 641,034,421.00 634,514,850.00 632,736,000.00 632,736,000.00
Including: dividend and profit paid to minority
shareholders by branch
Other cash paid related to financing activities
Subtotal of cash outflows of financing activities 865,534,421.00 854,514,850.00 632,736,000.00 632,736,000.00
Net cash flow from financing activites -865,534,421.00 -854,514,850.00 -632,736,000.00 -632,736,000.00
4. Influences of exchange rate fluctuation on cash and
cash equivalents
5. Net Increase in cash and cash equivalents -298,995,713.00 -57,546,475.00 594,226,238.00 304,982,339.00
Add: balance at the beginning of the period of cash and
cash equivalents 1,998,681,278.00 1,159,666,918.00 792,724,722.00 265,694,858.00
6. Balance at the end of the period of cash and cash
equivalents 1,699,685,565.00 1,102,120,443.00 1,386,950,960.00 570,677,197.00
4.5 Audit Report
Not audited
Yantai Changyu Wine Poineer Co., Ltd.
Board of Director
October 28th , 2010
