2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Yantai Changyu Pioneer Wine Co., Ltd.
2019 the First Quarter Report
2019-Final 02
April 2019
1
2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
I. Important Notice
The Company’s board of directors, board of supervisors, directors, supervisors and senior
executives guarantee the truthfulness, accuracy and completeness of contents contained in this
quarter report as well as no unfaithful facts, misleading statements or significant omissions
and undertake individual and collective legal liabilities.
All directors attended the board meeting for deliberating this quarter report.
Mr. Zhou Hongjiang (person in charge of the Company) and Mr. Jiang Jianxun (person in
charge of accounting work, person in charge of accounting organization and person in charge
of accounting) declare to assure the truthfulness, accuracy and completeness of the financial
statement in this quarter report.
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
II、Corporate Information
1. Key accounting data and financial indicators
Whether the Company need to make retroactive adjustments or restate the accounting data of
previous fiscal years.
□ Yes √ No
More or less than the
The same period of
Item This report period same period of last
last year
year (%)
Operating revenue (CNY) 1,667,424,758 1,804,057,976 -7.57%
Net profit attributed to the
shareholders of the listed 456,381,471 479,444,238 -4.81%
company (CNY)
Net profit attributed to the
shareholders of the listed
450,709,661 466,181,564 -3.32%
company after deducting the
irregular profit and loss (CNY)
Net cash flows from the
294,678,342 507,263,964 -41.91%
operating activities (CNY)
Basic earnings per share
0.67 0.70 -4.29%
(CNY)
Diluted earnings per share
0.67 0.70 -4.29%
(CNY)
Weighted average for earning
4.75% 5.24% -0.49%
rate of the net assets
The end of this More or less than the
The end of last year
report period end of last year (%)
Total assets (CNY) 13,317,351,339 13,117,729,052 1.52%
Net Assets attributed to the
shareholders of the listed 10,055,194,755 9,606,099,365 4.68%
company (CNY)
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
1,138
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, 6,172,178
in line with related regulations and have proper
basis of calculation)
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Other non-operating income and expenses 1,259,563
Less: Income tax effect 1,741,770
Minority interests effect(after-tax) 19,299
Total 5,671,810 --
The reasons shall be made clear and definitely as to the non-recurring profit and loss that the
Company has defined by virtue of the Explanatory Announcement on Public Company’s
Information Disclosure No.1 - Non-recurring Profit and Loss and as to regarding the non-recurring
profit and loss as recurrent profit and loss as specified in the Explanatory Announcement on Public
Company’s Information Disclosure No.1 –Non-recurring Profit and Loss.
□Available Not available
There is no situation that non-recurring profit and loss is defined and specified as recurrent profit
and loss in accordance with the Explanatory Announcement on Public Company’s Information
Disclosure No.1 - Non-recurring Profit and Loss during the report period.
2. The total number of shareholders and top 10 shareholders at the end of the report period
1) The number of the common shareholders and preferred shareholders with recovered voting
power as well as the shareholding of top 10 shareholders
Unit: share
Total number of preferred 0
Total number of common
45,104 shareholders with recovered
shareholders at the end of report
voting power at the end of re
period
port period
Shareholding of top 10 shareholders
Number Pledged or
Character of Percentage of frozen
Name of Shareholders Shares held
shareholders (%) restricted Share
Amount
shares status
Domestic non-
YANTAI CHANGYU GROUP
state-owned 50.40% 345,473,856 0 0
COMPANY LIMITED
legal person
Foreign legal
GAOLING FUND,L.P. 3.08% 21,090,219 0 0
person
CHINA SECURITIES FINANCE State-owned
2.25% 15,440,794 0
CORP legal person
BBH BOS S/A FIDELITY FD - Foreign legal
2.22% 15,241,826 0 0
CHINA FOCUS FD person
SHENWAN HONGYUAN Foreign legal
SECURITIES(HONGKONG) person 1.24% 8,492,763 0 0
LIMITED
FIDELITY PURITAN TRUST: Foreign legal
FIDELITY SERIES INTRINSIC person 0.93% 6,350,762 0 0
OPPORTUNITIES FUND
GUOTAI JUNAN Foreign legal
SECURITIES(HONGKONG) person 0.80% 5,516,796 0 0
LIMITED
CENTRAL HUIJIN ASSET State-owned
0.69% 4,761,200 0 0
MANAGEMENT LTD. legal person
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
VANGUARD EMERGING Foreign legal
MARKETS STOCK INDEX person 0.55% 3,788,487 0 0
FUND
FIDELITY CHINA SPECIAL Foreign legal
0.55% 3,779,202 0 0
SITUATIONS PLC person
Shareholding of top 10 shareholders with unrestricted shares
Name of Shareholders Number of Type of share
unrestricted Type of Amount
shares held share
YANTAI CHANGYU GROUP COMPANY LIMITED 345,473,856 A share 345,473,856
GAOLING FUND,L.P. 21,090,219 B share 21,090,219
CHINA SECURITIES FINANCE CORP 15,440,794 A share 15,440,794
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 15,241,826 B share 15,241,826
SHENWAN HONGYUAN SECURITIES(HONGKONG) B share
8,492,763 8,492,763
LIMITED
FIDELITY PURITAN TRUST: FIDELITY SERIES B share
6,350,762 6,350,762
INTRINSIC OPPORTUNITIES FUND
GUOTAI JUNAN SECURITIES (HONGKONG) B share
5,516,796 5,516,796
LIMITED
CENTRAL HUIJIN ASSET MANAGEMENT LTD. 4,761,200 A share 4,761,200
VANGUARD EMERGING MARKETS STOCK B share
3,788,487 3,788,487
INDEX FUND
FIDELITY CHINA SPECIAL SITUATIONS PLC 3,779,202 B share 3,779,202
Among the top 10 shareholders, Yantai Changyu Group Company
The explanation for the associated
Limited has no associated relationship or accordant action
relationship and accordant 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 top 10
common shareholders who
No
involved in financing activities
and stock trading business(if any)
Whether or not the Company’s top 10 common shareholders and top 10 common shareholders with
unrestricted shares promise to buy back trading during the report period
□ Yes √ No
There are no top 10 common shareholders and top 10 common shareholders with unrestricted shares
in the Company promise to buy back trading during the report period.
2) The total number of the preferred shareholders and top 10 preferred shareholders at the end of
the report period
□Available √Not available
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
III Major Issue
1. Situation and reason of change in major financial data and financial index during the
report period
√Available □Not available
Compared the end of the report period with the beginning of the report period: Monetary fund
increased by 14.28%, mainly due to the reduce in cash outflow for investment activities and
increase in bank deposit. Notes receivable increased by 64.09%, mainly due to increased amount of
bank acceptances. Advance payment decreased by 55.58%, mainly due to the decrease in advance
payment for raw material procurement. Interest receivable increased by 39.65%, mainly due to the
increased interest of bank term deposits. Non-current liabilities due within one year increased by
21.39%, mainly due to the transfer of long-term account payable.
Compared with the same period of last year: operating revenue decreased by 7.57%, which was
caused by four reasons. Firstly, in order to implement the strategy of “Focus on high quality, Focus
on mid-to-high end and Focus on big product”, the prices of low-end wines were raised at the end
of November 2018. Due to the pressure-bearing process of the market, the low-end wines have
fallen sharply. Secondly, due to aging of products as well as relatively concentrated markets, the
low-end brandy has shown a downward trend since last year. However, the growth of mid-to-high-
end brandy is not enough to make up for the decline of low-end brandy. Thirdly, the sales policy of
imported wines has further focused on the acquisition brands including Kilikanoon and Indomita etc,
which results in a decline in non-acquisition brands in imported wines and drags down the overall
growth of imported wines. Fourthly, listed company adjusted about 20% of provincial managers
and marketing personnel in February, which also had a certain impact on current indicators.
Compared with the same period of last year: sales expense decreased by 14.9%, mainly due to
decrease in advertising expense. Financial expense decreased by 156.04%, mainly due to offset of
financial expense by received loan with discounted interest. Net profit attributable to parent
company decreased by 4.81%, mainly due to decrease in income. Net cash flow from operating
activities decreased by 41.91%, mainly due to reduce in received cash of selling products and
providing service. Cash inflow from investment activities increased by 9064.93%, mainly due to
increase in withdrawal of fixed term deposit. Cash outflow for investment activities decreased by
73.86% and net cash flow from investment activities increased by 79.14%, mainly due to the reduce
in the cash paid for purchasing fixed term deposit. Net increase in cash and cash equivalents
increased by 24149.03%, mainly due to reduce in cash outflow for investment activities.
2. Analysis explanation of major issue’s process, influence and solution
□Available √ Not available
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Implementation progress of share repurchase
□Available √ Not available
Implementation progress of reducing or repurchasing shares by the way of centralized bidding
□Available √ Not available
3. The commitments that the Company’s actual controllers, shareholders, related parties,
purchasers, the Company and other related parties do not implement completely
exceeding the time limit within report period
√Available □Not available
Commitment Commitment Commitment Commitment Commitment
Commitments Implementation
Party Type content time period
Commitments at
- －
share reform
Commitments
made in
acquisition - - - -
report or equity
changes report
Commitments at
asset - - - -
restructuring
Yantai
Changyu Solve Has been
Non-horizontal
Group Co., horizontal 1997.05.18 Permanent fulfilling the
competition
Ltd. competition commitment
According to According to
Trademark Trademark
License License
Contract, the Contract, the
annual annual
trademark use trademark use
Commitments at fee of fee charged by
the initial public trademarks Yantai Changyu
offering or Yantai
Define the including “ 张 Group Co., Ltd.
refinancing Changyu should be
use of 裕 ” (Changyu)
Group Co., 1997.05.18 Permanent mainly used to
trademark use paid by the
Ltd. publicize
fee Company to
Yantai Changyu trademarks
Group Co., Ltd. including “ 张
should be 裕 ” (Changyu)
mainly used by and contractual
Yantai Changyu products. Except
Group Co., Ltd. the period from
to publicize 2013 to 2017
trademarks when Yantai
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
including “ 张 Changyu Group
裕 ” (Changyu) Co., Ltd. didn’t
and contractual strictly fulfill the
products. commitment,
Yantai Changyu
Group Co., Ltd.
has been
fulfilling the
commitment.
Equity incentive
commitments
Commitments
made to the
minority - - - -
shareholders of
the Company
Commitment
under timely
No
implementation
or not
According to Trademark License Contract (hereafter referred to as “this
Contract”), Changyu Group promised that the annual trademark use fee paid
by the Company to Changyu Group would be mainly used by Changyu Group
to publicize these trademarks and contractual products. However, the above-
mentioned "mainly" is not a specific number. During the implementation
process, due to inconsistent understanding, it is easy to cause divergence and
leads to problems.
Changyu Group totally charged trademark use fee of CNY420,883,902 from
2013 to 2017. Based on this Contract, the amount (51% of trademark use fee)
used for publicity of trademarks including “张裕” (Changyu) and contractual
products involved in this Contract should be CNY214,650,790, compared to
which, the amount that has already been used for publicity of trademarks
For commitments that exceed including “张裕” (Changyu) and contractual products involved in this
the time limit and are not Contract is CNY50,025,181 with a balance of CNY164,625,609. In addition,
completed, specific reasons of Changyu Group totally charged 2017 annual and 2018 annual trademark use
not completing the fee of CNY155,623,907 in 2018 and 2019. Based on This Contract, the
implementation and the next amount (51% of trademark use fee) used for publicity of trademarks including
step
“张裕” (Changyu) and contractual products involved in this Contract should
be CNY79,368,193, compared to which, the amount that has already been
used for publicity of trademarks including “张裕” (Changyu) and contractual
products involved in This Contract is CNY12,225,187 with a balance of
CNY67,143,006.
From 2013 to now, the total balance of trademark use fee used for publicity of
trademarks including “张裕” (Changyu) and contractual products involved in
this Contract is CNY231,768,615.
Changyu Group promised that Changyu Group would use the trademark use
fee that would be charged for 2019 annual to 2022 annual to offset above-
mentioned total balance. If it is not enough, the insufficient amount will be
complemented for one time in 2023; if it is sufficient, Changyu Group will
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
begin to charge the excess trademark use fee from the year when there
generates excess trademark use fee.
If Changyu Group is not able to implement the above-mentioned commitment owing
to various reasons, the Company will timely supervise and urge Changyu Group to
fulfill its commitment and request Changyu Group to raise funds through bank
loaning, assets sales and equity sales etc in order to implement the commitment.
For detailed information, please refer to the Company’s Announcement of
Commitment Issues of Yantai Changyu Group Co., Ltd disclosed on April 4th, 2019.
4. Forecast on the operating performance in the period from January to June of 2019
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.
□Available √ Not available
5. Situation of security investment
□Available √ Not available
There is no security investment during the report period.
6. Situation of derivative investment
□Available √ Not available
There is no derivative investment during the report period.
7. The activities registration form of receptions, communication and interview etc. during the
report period
□Available √ Not available
There are no activities of receptions, communication and interview etc. during the report period.
8. Situation of illegal external guarantee
□Available √ Not available
There is no illegal external guarantee during the report period.
9. Situation of non-operating fund occupation of controlling shareholders and related parties
□Available √ Not available
There is no non-operating fund occupation of controlling shareholders and related parties during the
report period.
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Ⅳ Financial Statements
1. Financial statements
1) Consolidated balance sheet
Preparation Unit: Yantai Changyu Pioneer Wine Co., Ltd. Unit: CNY
st
Item March 31 , 2019 December 31st, 2018
Current assets：
Monetary fund 1,686,467,643 1,475,700,477
Settlement funds
Trading financial assets
Financial assets which are measured by fair value
and which changes are recorded in current profit
and loss
Derivative financial liability
Notes receivable and accounts receivable 712,241,039 530,821,071
Including: Notes receivable 473,671,893 288,667,988
Accounts receivable 238,569,146 242,153,083
Advance payment 1,874,421 4,219,949
Insurance premiums receivable
Provision of cession receivable
Other receivable 21,954,602 22,636,086
Including: Interests receivable 1,861,068 1,332,681
Dividends receivable
Inventories 2,562,649,190 2,724,591,457
Assets held for sale
Non-current assets due within one year
Other current assets 277,964,944 258,676,396
Total current assets 5,263,151,839 5,016,645,436
Non-current assets：
Financial assets for sale 467,251
Investment held to expiration
Long-term account receivable
Long-term equity investment
Real estate for investment 31,183,889 31,572,489
Fixed assets 5,735,574,387 5,749,731,667
Construction in progress 765,770,394 759,296,591
Biological assets for production 207,109,664 209,266,373
Oil and gas assets
Intangible assets 649,996,533 655,473,459
Development expenditure
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Goodwill 165,199,111 165,199,111
Long-term deferred expenses 276,110,331 244,640,416
Assets of deferred income tax 222,801,549 285,436,259
Other non-current assets 453,642
Total non-current assets 8,054,199,500 8,101,083,616
Total assets 13,317,351,339 13,117,729,052
Current liabilities:
Short-term loan 676,078,947 688,002,410
Financial liabilities which are measured by fair
value and which changes are recorded in current
profit and loss
Derivative financial liability
Notes payable and accounts payable 595,555,189 713,572,881
Advance money 232,110,538 226,075,244
Wage payable 171,926,352 212,304,217
Tax payable 100,575,817 128,912,790
Other accounts payable 530,951,517 608,479,890
Including: Interests payable 2,017,538 712,826
Dividends payable
Liabilities held for sale
Non-current liabilities due within one year 185,654,332 152,940,788
Other current liabilities 14,545,254 15,860,254
Total current liabilities 2,507,397,946 2,746,148,474
Non-current liabilities：
Long-term loan 172,989,751 156,480,662
Bond payable
Including: Preferred stock
Perpetual capital securities
Long-term accounts payable 203,000,000 225,000,000
Long-term wages payable
Special accounts payable
Deferred income 67,915,609 70,367,039
Liabilities of deferred income tax 21,290,654 22,010,647
Other non-current liabilities 7,234,853 7,234,853
Total non-current liabilities 472,430,867 481,093,201
Total liabilities 2,979,828,813 3,227,241,675
Shareholder rights and interests：
Share capital 685,464,000 685,464,000
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital reserve 565,955,441 565,955,441
Less: Inventory shares
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Other comprehensive Income -4,320,704 2,965,377
Reasonable reserve
Surplus reserve 342,732,000 342,732,000
Retained profit 8,465,364,018 8,008,982,547
Total owner’s equity attributable to parent company 10,055,194,755 9,606,099,365
Minority interests 282,327,771 284,388,012
Total owner's equity 10,337,522,526 9,890,487,377
Total liabilities and owner's equity 13,317,351,339 13,117,729,052
Legal representative: Zhou Hongjiang Person in charge of accounting: Jiang Jianxun Person in charge of accounting organ: Jiang
Jianxun
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
2) Balance sheet of parent company
Unit: CNY
Item March 31st, 2019 December 31st, 2018
Current assets：
Monetary fund 898,617,027 624,588,809
Financial assets which are measured by fair value
and which changes are recorded in current profit and
loss
Derivative financial liability
Notes receivable and accounts receivable 53,248,347 41,333,227
Including: Notes receivable 52,028,187 39,885,254
Accounts receivable 1,220,160 1,447,973
Advance money 121,922 227
Other receivable 529,375,393 1,025,643,356
Including: Interests receivable 506,337 254,088
Dividends receivable 152,136,162 500,000,000
Inventories 450,274,793 385,154,740
Assets held for sale
Non-current assets due within one year
Other current assets 28,853,540 24,704,844
Total current assets 1,960,491,022 2,101,425,203
Non-current assets：
Financial assets for sale
Investment held to expiration
Long-term account receivable
Long-term equity investment 7,420,803,068 7,420,803,069
Real estate for investment 31,183,889 31,572,489
fixed assets 265,196,149 265,311,274
Construction in progress 7,129,202 6,311,701
Biological assets for production 123,016,068 125,002,793
Oil and gas assets
Intangible assets 66,649,278 67,244,066
Development expenditure
Goodwill
Long-term deferred expenses
Assets of deferred income tax 20,799,602 24,194,967
Other non-current assets 985,700,000 972,700,000
Total non-current assets 8,920,477,256 8,913,140,359
Total assets 10,880,968,278 11,014,565,562
Current liabilities:
Short-term loan 150,000,000 150,000,000
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Financial liabilities which are measured by fair
value and which changes are recorded in current
profit and loss
Derivative financial liability
Notes payable and accounts payable 102,401,642 132,704,304
Advance money
Wage payable 62,212,233 72,345,179
Tax payable 2,552,051 13,111,431
Other accounts payable 522,292,133 607,974,519
Including: Interests payable 181,250 181,250
Dividends payable
Liabilities held for sale
Non-current liabilities due within one year
Other current liabilities 3,433,054 3,433,054
Total current liabilities 842,891,113 979,568,487
Non-current liabilities：
Long-term loan -
Bond payable
Including: Preferred stock
Perpetual capital securities
Long-term accounts payable
Long-term wages payable
Special accounts payable
Deferred income 8,318,053 8,910,918
Liabilities of deferred income tax
Other non-current liabilities 2,710,575 2,710,575
Total non-current liabilities 11,028,628 11,621,493
Total liabilities 853,919,741 991,189,980
Shareholder rights and interests：
Share capital 685,464,000 685,464,000
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital reserve 557,222,454 557,222,454
Less: Inventory shares
Other comprehensive Income
Reasonable reserve
Surplus reserve 342,732,000 342,732,000
Retained profit 8,441,630,083 8,437,957,128
Total owner's equity 10,027,048,537 10,023,375,582
Total liabilities and owner's equity 10,880,968,278 11,014,565,562
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
3) Consolidated profit statement
Unit: CNY
Amount incurred in current Amount incurred in
Item
period previous period
1. Revenue 1,667,424,758 1,804,057,976
Including: Operating income 1,667,424,758 1,804,057,976
Interest income
Earned premium
Handling fees and commission income
2. Total operating costs 1,061,511,440 1,184,474,700
Including: Operating costs 601,688,193 625,431,208
Interest expenditure
Handling fees and commission expenditure
Premium rebate
Net amount of indemnity expenditure
Net amount of insurance contract reserve
fund withdrawal
Policy bonus payment
Amortized reinsurance expenditures
Taxes and surcharges 67,002,049 101,766,053
Selling expenses 318,512,447 374,283,098
Administrative expenses 81,023,493 80,493,010
Research and development expenditure 990,219 1,120,457
Financial expenses -2,640,255 4,711,493
Including: Interest expenses 1,827,791 6,578,902
Interest income 2,420,094 2,272,889
Loss for impairment of assets -5,064,706 -3,330,619
Loss of credit impairment
Plus: Other income 6,172,178 16,861,473
Investment profit (loss is listed with "-")
Including: Investment profit for joint-run
business and joint venture
Net exposure hedging income (Loss islisted with
“-”)
Fair value charge profit (loss is listed with "-")
Assets disposal income (loss is listed with "-") 1,138 84,719
Exchange income (loss is listed with "-")
3. Operating profit (loss is listed with "-") 612,086,634 636,529,468
Plus: Non-operating income 1,262,992 936,426
Minus: Non-operating expenditure 3,429 411,037
4. Total profits (total loss is listed with "-") 613,346,197 637,054,857
Minus: Income taxes 157,428,397 158,539,458
5. Net profit (net loss is listed with "-") 455,917,800 478,515,399
（一）Classification by continuous operation
1.Net profit from continuous operation(net loss is listed
with "-")
455,917,800 478,515,399
2.Net profit from terminational operation(net loss is listed
with "-")
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
(二)Classification by ownership
1. Minority interests -463,671 -928,839
2.Net profits attribute to equity holders of the company 456,381,471 479,444,238
6. Net value of other comprehensive income after tax -8,882,651 -6,819,043
6.1 Net value of other comprehensive income after tax of
holding company's owners
-7,286,081 -5,547,374
6.1.1 Other comprehensive income that will not be
classified into the profit and loss
6.1.1.1 Changes of the defined benefit plans that re-
measured
6.1.1.2 Other comprehensive income under equity method
that cannot be transfer to gain/loss
6.1.1.3 Change of fair value of investment in other equity
instrument
6.1.1.4 Fair value change of enterprise's credit risk
6.1.1.5 Other
6.1.2 Other comprehensive income that will be
classified into the profit and loss
-7,286,081 -5,547,374
6.1.2.1 Other comprehensive income under equity method
that can transfer to gain/loss
6.1.2.2 Change of fair value of other debt investment
6.1.2.3 gain/loss of fair value changes for available-for-
sale financial assets
6.1.2.4 Amount of financial assets re-classify to other
comprehensive income
6.1.2.5 Gain/loss of held-to-maturity investments that re-
classify to ailable-for-sale financial asset
6.1.2.6 Credit impairment provision for other debt
investment
6.1.2.7 Cash flow hedging reserve
6.1.2.8 Translation differences arising on translation of
foreign currency financial statements
-7,286,081 -5,547,374
6.1.2.9 Other
6.2 Net value of other comprehensive income after tax
of minority shareholders
-1,596,570 -1,271,669
7.Total comprehensive Income 447,035,149 471,696,356
Total comprehensive income of holding company 449,095,390 473,896,864
Total comprehensive income of minority shareholders -2,060,241 -2,200,508
8. Earnings per share
8.1 Basic earnings per share 0.67 0.70
8.2 Diluted earnings per share 0.67 0.70
During this report period, the issue relates to company consolidation under common control, consolidated party completes net profit
amount of CNY 0 before being consolidated, and consolidated party completes net profit amount of CNY 0 in the same period of last
year.
Legal representative: Zhou Hongjiang Person in charge of accounting: Jiang Jianxun Person in charge of accounting organ: Jiang
Jianxun
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
4) Profit statement of parent company
Unit: CNY
Amount incurred in current Amount incurred in previous
Item
period period
1. Revenue 242,003,808 262,548,732
Minus: Operating costs 213,607,081 223,847,815
Taxes and surcharges 8,712,074 14,257,566
Selling expenses
Administrative expenses 20,122,062 20,301,162
Research and development expenditure 219,892 208,742
Financial expenses -4,343,667 5,548,315
Including: Interest expenses -4,311,896 5,872,648
Interest income 489,663 975,383
Loss for impairment of assets
Loss of credit impairment
Plus: Other income 858,264 1,059,414
Investment profit (loss is listed with "-") 20,000,000
Including: Investment profit for joint-run
business and joint venture
Net exposure hedging income (Loss
islisted with “-”)
Fair value charge profit (loss is listed with
"-")
Assets disposal income (loss is listed with
"-")
75,000
2. Operating profit (loss is listed with "-") 4,544,630 19,519,546
Plus: Non-operating income 539,265 47,479
Minus: Non-operating expenses
3. Total profits (total loss is listed with "-") 5,083,895 19,567,025
Minus: Income tax 1,410,940 23,498
4. Net profit (net loss is listed with "-") 3,672,955 19,543,527
1.Net profit from continuous operation(net loss is
listed with "-")
3,672,955 19,543,527
2.Net profit from terminational operation(net loss is
listed with "-")
5. Net value of other comprehensive income after
tax
5.1 Other comprehensive income that will not be
classified into the profit and loss
5.1.1 Remeasure the changes in net assets or
liabilities
of defined benefit plans
5.1.2 Shares of other comprehensive income from
investee which cannot be reclassified into
profit
and loss under the equity method
5.1.3 Change of fair value of investment in other
equity instrument
5.1.4 Fair value change of enterprise's credit risk
5.1.5 Other
5.2 Other comprehensive income that will be
classified
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
into the profit and loss
5.2.1 Other comprehensive income under equity
method that can transfer to gain/loss
5.2.2 Change of fair value of other debt investment
5.2.3 gain/loss of fair value changes for available-
for-sale financial assets
5.2.4 Amount of financial assets re-classify to other
comprehensive income
5.2.5 Gain/loss of held-to-maturity investments that
re-classify to ailable-for-sale financial asset
5.2.6 Credit impairment provision for other debt
investmen
5.2.7 Cash flow hedging reserve
5.2.8 Translation differences arising on translation
of foreign currency financial statements
5.2.9 Other
6. Total comprehensive income 3,672,955 19,543,527
7. Earnings per share
7.1 Basic earnings per share 0.01 0.03
7.2 Diluted earnings per share 0.01 0.03
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
5) Consolidated cash flow statement
Unit: CNY
Amount incurred in Amount incurred in
Item
current period previous period
1. Cash flows from operating activities:
Cash received from sales of goods and rending of
services
1,542,378,382 1,766,530,391
Net increase in customer and interbank deposits
Net increase in borrowings from central bank
Net increase in borrowings from other financial
institutions
Cash received from receiving insurance premium of original
insurance contract
Net cash received from reinsurance business
Net increase of deposit of insured and investment
fund
Net increase in disposing of financial assets that
measured by fair value with changes recorded into
the current profit and loss
Cash received from collecting interest, handling
fees and commission
Net increase in borrowings
Net increase in repurchasement business funds
Tax refund received 9,948,082 6,890,085
Other cash received related to operating activities 11,283,776 18,289,974
Sub-total of cash inflows of operating activities 1,563,610,240 1,791,710,450
Cash paid for goods and services 461,343,969 418,799,244
Net increase in customer loans and advances
Net increase in deposits in central bank and
interbank deposits
Cash paid to original insurance contract payments
Cash paid to interest, handling fees and
commission
Cash paid to policy bonus
Cash paid to and on behalf of employees 162,305,720 152,403,775
Cash paid for taxes and expenses 401,268,381 486,679,596
Other cash paid related to operating activities 244,013,828 226,563,871
Sub-total of cash outflows of operating activities 1,268,931,898 1,284,446,486
Net cash flow from operating activities 294,678,342 507,263,964
2. Cash flow from investing activities:
Cash received from return of investment 0
Cash received from return of fixed deposit 26,755,750
Cash received from obtaining investment profit
Cash received from interest income 484,857 35,723
Cash received from disposal of fixed assets,
intangible assets and other long-term assets
21,379 261,737
Net cash received from disposal of branch and other
business unit
Other cash received related to investing activities
Subtotal of cash inflows of investment activities 27,261,986 297,460
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Cash paid to acquire fixed assets, intangible assets and
other long-term assets
114,280,901 110,862,244
Cash for investments
Cash paid for fixed deposit 20,458,100 300,000,000
Net cash received from disposal of branch and other
business unit
Net cash paid to acquire branch and other business unit 104,566,419
Other cash paid related to investment activities
Subtotal of cash outflows of investment activities 134,739,001 515,428,663
Net cash flow from investing activities -107,477,015 -515,131,203
3. Cash flow from financing activities
Cash received from acquiring investment
Cash received from acquiring minority
shareholders' investment by branch
Cash received from acquiring loans 78,214,913 96,644,015
Cash received from issuing bonds
Other cash received related to financing activities
Sub-total cash inflows of financing activities 78,214,913 96,644,015
Cash paid to repay debts 64,904,847 79,119,513
Cash paid to distribute dividend, profit or pay interest 8,203,612 8,294,731
Dividend and profit paid to minority shareholders by branch
Other cash paid related to financing activities
Sub-total of cash outflows of financing activities 73,108,459 87,414,244
Net cash flow from financing activities 5,106,454 9,229,771
4. Influences of exchange rate fluctuation on cash and
cash equivalents
-468,104 -571,409
5. Net Increase of cash and cash equivalents 191,839,677 791,123
Plus: balance at the beginning of the period of cash
and cash equivalents
1,206,860,334 1,180,889,274
6. Balance at the end of the period of cash and cash
equivalents
1,398,700,011 1,181,680,397
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
6) Cash flow statement of parent company
Unit: CNY
Amount incurred in Amount incurred in
Item
current period previous period
1. Cash flows from operating activities:
Cash received from sales of goods and rending of
services
171,139,612 156,753,252
Tax refund received
Other cash received related to operating activities 13,968,773 42,356,221
Sub-total of cash inflows of operating activities 185,108,385 199,109,473
Cash paid for goods and services 115,043,734 83,858,780
Cash paid to and on behalf of employees 28,667,432 35,076,108
Cash paid for taxes and expenses 17,016,423 27,242,412
Other cash paid related to operating activities 75,568,493 13,004,908
Sub-total of cash outflows of operating activities 236,296,082 159,182,208
Net cash flow from operating activities -51,187,697 39,927,265
2. Cash flow from investing activities:
Cash received from return of investment
Fixed deposit with the term of over 3 months
Cash received from obtaining investment profit 347,863,838 140,000,000
Cash received from interest income 35,723
Cash received from disposal of fixed assets,
intangible assets and other long-term assets
538,055
Net cash received from disposal of branch and
other business unit
Other cash received related to investing activities
Sub-total of cash inflows of investment activities 347,863,838 140,573,778
Cash paid to acquire fixed assets, intangible asset
and other long-term assets
8,209,927 8,617,593
Cash for investments 13,000,000 105,926,184
Cash paid to acquire fixed deposit 12,200,000 300,000,000
Net cash paid to acquire branch and other
busines unit
Other cash paid related to investment activities
Subtotal of cash outflows of investment activities 33,409,927 414,543,777
Net cash flow from investing activities 314,453,911 -273,969,999
3. Cash flow from financing activities
Cash received from acquiring investment
Cash received from acquiring loans
Cash received from issuing bonds
Other cash received related to financing activities
Sub-total cash inflows of financing activities
Cash paid to repay debts
Cash paid to distribute dividend, profit or pay
interest
1,631,250 5,872,500
Other cash paid related to financing activities
Sub-total of cash outflows of financing activities 1,631,250 5,872,500
Net cash flow from financing activities -1,631,250 -5,872,500
4. Influences of exchange rate fluctuation on cash
and cash equivalents
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2019 the First Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
5. Net Increase of cash and cash equivalents 261,634,964 -239,915,234
Plus: balance at the beginning of the period of
cash and cash equivalents
532,384,882 493,568,866
6. Balance at the end of the period of cash and cash equivalents 794,019,846 253,653,632
2. Notes on financial statement adjustments
1) Relevant situations of adjustment in financial statement at the beginning of the year when
the new financial instrument standards, new income standards and new lease standards are
first implemented
□Available Not available
2) Explanation on retrospective adjustments in the previous comparison data for the first
implementation of new financial instrument standards and new lease standards
□Available Not available
3. Audit report
Whether the first quarter report has been audited.
□Yes √No
The first quarter report has not been audited.
Yantai Changyu Pioneer Wine Co., Ltd.
Board of Directors
April 27th 2019
22
