2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
Yantai Changyu Pioneer Wine Co. Ltd.
2014First Quarter Report
2014-Final 02
April 2014
1
2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
I. Important Notice
The board of directors，the board of supervisors，directors, 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 unfaithful facts, significant omissions or
misleading statements.
Except the following directors, other directors all personally attended the meeting for
deliberating the annual report.
Absent directors Directors’ post Absent reason Authorized person
Mr. Augusto Reina Director Due to working Mr. Aldino Marzorati
Mr. Jean Paul Pinard Director Due to working Mr. Sun Liqiang
Mr. Sun Liqiang (Chairman of the Company), Mr. Leng Bin (Chief Financial Officer) and Mr.
Jiang Jianxun (Financial Director) assure the truthfulness, accuracy and completeness of the
financial report in the annual report.
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2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
II、Key financial data and shareholders changing
1. Key financial data
Whether the Company makes retroactive adjustments or restates the accounting data of previous
fiscal years.
□ Yes V No
The same period of More or less than
Item The report period
last year last year(%)
Business income (CNY) 1,508,515,994.00 1,848,564,099.00 -18.4%
Net profit attributed to the
shareholders of the listed 457,522,651.00 570,638,033.00 -19.82%
company (CNY)
Net profit attributed to the
shareholders of the listed
454,655,351.00 568,038,508.00 -19.96%
company after deducting the
irregular profit and loss (CNY)
Net cash flows from the
706,507,223.00 523,571,540.00 34.94%
operating activities (CNY)
Basic earnings per share
0.67 0.83 -19.28%
(CNY)
Diluted earnings per share
0.67 0.83 -19.28%
(CNY)
Weighted average for earning
6.64% 8.99% -2.35%
rate of the net assets
The end of the More or less than
The end of last year
report period last year(%)
Total assets (CNY) 8,527,529,718.00 8,001,532,444.00 6.57%
Net Assets attributed to the
shareholders of the listed 6,665,802,356.00 6,208,279,705.00 7.37%
company (CNY)
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2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
Details of irregular profit and loss
V Yes □ No
Unit：CNY
From beginning of year
Item Explanation
to end of report period
Gain on disposal of non-current assets, including
-2,963.00
the reversal of accrued impairment provision
Government grants credited in profit and loss
(except for those recurring government grants
that are closely related to the entity's operation, 3,228,950.00
in line with related regulations and have proper
basis of calculation)
Other non-operating income and expenses 184,193.00
Less: Income tax effect 542,880.00
Total 2,867,300.00 --
The reasons shall be made clear and definitely as to the irregular profit and loss that the Company has
defined by virtue of the Explanatory Announcement on Public Company’s Information Disclosure No.1
- Irregular Profit and Loss and as to regarding the irregular profit and loss as recurrent profit and loss as
specified in the Explanatory Announcement on Public Company’s Information Disclosure No.1 -
Irregular Profit and Loss.
□Available V Not available
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2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
2.The total number of the shareholders and top 10 shareholders with unrestricted shares at
the end of the report period
Unit: share
Total 51,856
Total number of shareholders 36695 Shareholders of A shares
15161 Shareholders of B shares
The top 10 shareholders with unrestricted shares
Numb Pledged or
er of frozen
Character of Percentage restric Shar
Name of Shareholders Shares held
shareholders (%) ted e Amo
shares statu unt
s
Domestic
non-state-
YANTAI CHANGYU GROUP CO. LTD. 50.4% 345,473,856 0 0
owned legal
person
Foreign
GAOLING FUND,L.P. 3.53% 24,176,997 0 0
shareholder
Foreign
GIC PRIVATE LIMITED 2.88% 19,721,200 0 0
shareholder
BBH BOS S/A FIDELITY FD - CHINA Foreign
2.35% 16,106,326 0 0
FOCUS FD shareholder
GSIC A/C MONETARY AUTHORITY OF Foreign
0.91% 6,242,128 0 0
SINGAPORE shareholder
BBH A/C VANGUARD EMERGING Foreign
0.67% 4,585,066 0 0
MARKETS STOCK INDEX FUND shareholder
BBH S/A FIDELITY FUNDS SICAV-HEALTH Foreign
0.67% 4,579,982 0 0
CARE shareholder
VALUEPARTNERSHIGH-DIVIDENDSTOCKS Foreign
0.62% 4,280,146 0 0
FUNDS shareholder
Foreign
UBS (LUXEMBOURG) S.A. 0.57% 3,908,889 0 0
shareholder
FIDELITY CHINA SPECIAL SITUATIONS Foreign
0.55% 3,779,202 0 0
PLC shareholder
The top 10 shareholders with unrestricted shares
Name of Shareholders Number of Type of share
unrestricted Type of Amount
shares held share
YANTAI CHANGYU GROUP CO. LTD. 345,473,856 A share 345,473,856
GAOLING FUND,L.P. 24,176,997 B share 24,176,997
GIC PRIVATE LIMITED 19,721,200 B share 19,721,200
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 16,106,326 B share 16,106,326
GSIC A/C MONETARY AUTHORITY OF SINGAPORE 6,242,128 B share 6,242,128
BBH A/C VANGUARD EMERGING MARKETS STOCK B share
4,585,066 4,585,066
INDEX FUND
BBH S/A FIDELITY FUNDS SICAV-HEALTH CARE 4,579,982 B share 4,579,982
VALUE PARTNERS HIGH-DIVIDEND STOCKS FUNDS 4,280,146 B share 4,280,146
UBS (LUXEMBOURG) S.A. 3,908,889 B share 3,908,889
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2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
FIDELITY CHINA SPECIAL SITUATIONS PLC 3,779,202 B share 3,779,202
Among the top 10 shareholders, Yantai Changyu Group
The explanation for the associated
Company Limited has no associated relationship or accordant
relationship and accordant action
action relationship with the other 9 listed shareholders, and the
of the top 10 shareholders
relationship among the other shareholders is unknown.
Explanation for the shareholders
who involved in financing
No
activities and stock trading
business(if any)
Whether or not the Company’s shareholders promise to buy back trading during the report period
□ Yes √ No
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2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
III Major Issue
1. The Great Change and Reasons on Main Accountant Data and Financial Index
Item At 31st March At 31st December Changes % Reasons for changes
2014 2013
Monetary fund 1,872,746,726 1,367,818,182 36.91% Mainly due to receiving the cash from
distributed products.
Notes receivable 284,073,362 79,702,753 256.42% Mainly due to the growth of
distributed products on bank
acceptances from the clients.
Notes payable 7,635,694 5,765,694 32.43% Mainly due to the growth of payable
bank acceptances.
Interest payable 3,209,852 2,152,059 49.15% Mainly due to the growth of payable
on bank loan interest.
Item The report Last periodamount Changes % Reasons for changes
period amount
Operating revenue 1,508,515,994 1,848,564,099 -18.40% Mainly due todecline of sales volume.
Operating cost 469,058,043 517,458,892 -9.35% Mainly due todecline of sales volume.
Sales expense 298,441,169 431,460,151 -30.83% Mainly due toreduction of advertising
expense and transport cost.
Management 58,147,083 67,841,905 -14.29% Mainly due todecrease of landscaping
expense expense.
Financial expense -11,647,090 -10,456,523 -11.39% Mainly due to increase of
depositinterests income .
Net profit of 457,522,651 570,638,033 -19.82% Mainly due todecline of sales income.
parent company's
owners
Cash paid for 213,166,230 324,388,078 -34.29% Mainly due to decline cash payment
goods and services for purchasing raw materials etc.
Other cash paid 217,033,835 344,504,698 -37.00% Mainly due to decline of cash
related to payment for sales expenses.
operating activities
Subtotal for cash 430,200,065 668,892,776 -35.68% Mainly due to decline of cash
outflows of payment for purchasing commodities
operating activities and payment for expenses.
Cash paid to 207,206,059 151,585,839 36.69% Mainly due to increase of cash
acquire fixed investment of investment projects.
assets, intangible
assets and other
long-term assets
Fixed deposit with 21,097,760 317,116,506 -93.35% Mainly due to decrease of fixed
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2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
the term of over 3 deposit.
months
Subtotal for cash 228,303,819 468,702,345 -51.29% Mainly due to decrease of fixed
outflow of deposit and increase of cash paid for
investment investment projects.
activities
Net Increase in 623,140,298 220,190,303 183.00% Mainly due to receiving cash from
cash and cash distributed products.
equivalents
2. The commitments of the Company or shareholders of the Company holding more than 5%
in the report period or until the reportperiod
Commitment Commitment Commitment Commitment
Commitments Implementation
party content time period
Commitments at share reform － － － － －
Commitments made in － － － － －
acquisition report or equity
changes report
Commitments at asset － － － － －
restructuring
Yantai According to 18th May In-process
Changyu "Trademark 1997 performed
Group Co. License
Ltd. Contract", the
Company will
pay trademark
royalty for the
"Changyu"prod
ucts of Yantai
Commitments at the initial Changyu Group
Forever
public offering or refinancing Co., Ltd every
year, Yantai
Changyu Group
Co., Ltd will use
trademark to
advertise
Changyu
trademarks and
the Contract
products.
Commitments made to the Yantai
Changyu Intra-industry 18th May Has been
minority shareholders of the Group Co. competition 1997
Forever
performing
Company Ltd.
Yes
Commitments at middle and
－
small shareholders of the
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2014the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
Company
Commitment under timely
Yes
implementation or not
Whether or not to have specific
reasons of the unimplemented
NO
commitment and next steps(if
any)
Commitments Commitment party
Commitments at share reform －
3. Forecast on the operatingperformance from January to June in 2014
Warning and explanation for the estimation on the possible loss of cumulative 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.
□Yes V No
Yantai Changyu Pioneer Wine Co. Ltd.
Board of Directors
25th April 2014
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