2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Yantai Changyu Pioneer Wine Co., Ltd.
2020 Third Quarter Report
Final 2020-04
October 2020
1
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
I. Important Notice
The board of directors, the board of supervisors, directors, supervisors and senior executives
of the Company guarantee the truthfulness, accuracy and completeness of the contents
contained in the third quarter report with no false records, misleading statements or
significant omissions, and undertake individual and joint legal liabilities.
All directors attended the meeting for deliberating this quarter report.
Mr. Zhou Hongjiang (Person in charge of the Company), Mr. Jiang Jianxun (Person in
charge of accounting work) and Mrs. Guo Cuimei (Person in charge of accounting organ &
Accountant in charge) assure the truthfulness, accuracy and completeness of the financial
statements in the third quarter report.
2
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
II. Corporate Information
1. Key accounting data and financial indicators
Whether the Company makes retroactive adjustments or restates the accounting data of previous fiscal years.
Yes No
The reason of makes retroactive adjustments or restates: business combination under the same control
The end of this The end of last year More or less than last year (%)
report period Before adjustment After adjustment After adjustment
Total assets (CNY) 13,049,517,856 13,647,932,568 13,767,237,838 -5.21%
Net assets attributed to
the shareholders of the 10,198,945,037 10,308,910,198 10,401,071,088 -1.94%
listed company (CNY)
More or less More or less
From the
Same period of last year than last Same period of last year than last year
This report beginning of the
year (%) (%)
period year to the end of
Before After After Before After After
this report period
adjustment adjustment adjustment adjustment adjustment adjustment
Operating income (CNY) 774,191,143 968,100,175 980,743,772 -21.06% 2,192,739,690 3,526,374,960 3,553,926,816 -38.30%
Net profit attributed to
the shareholders of the 85,120,851 125,557,834 130,147,686 -34.60% 403,760,926 728,961,623 740,898,517 -45.50%
listed company (CNY)
Net profit attributed to
the shareholders of the
listed company after
73,406,867 119,702,422 119,702,422 -38.68% 340,173,716 672,193,117 672,193,117 -49.39%
deducting the
extraordinary gains and
losses (CNY)
Net cash flow from
operating activities 268,955,826 145,855,707 150,903,125 78.23% 252,437,074 645,331,713 656,726,875 -61.56%
(CNY)
3
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Basic earnings per share
0.12 0.18 0.19 -36.84% 0.59 1.06 1.08 -45.37%
(CNY/share)
Diluted earnings per
0.12 0.18 0.19 -36.84% 0.59 1.06 1.08 -45.37%
share (CNY/share)
Weighted average for
earning rate of the net 0.92% 1.31% 1.37% -0.45% 3.85% 7.38% 7.50% -3.65%
assets
4
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Details of extraordinary profit and loss
Available Not available
Unit：CNY
Amount from the
Item beginning of the year to the Explanation
end of report period
Disposal gains and losses for non-current assets,
including the reversal of accrued impairment -1,124,290
provision
Government grants credited in current profit and loss
(except for those recurring government grants that are
closely related to the entity's operation, in line with 65,451,990
related regulations and have proper basis of
calculation)
Current net profit and loss of subsidiary arising from
business combination under the same control for the
12,943,426
current period from the beginning of the period to the
date of the merger
Other non-operating income and expenses in addition
4,701,227
to above items
Less: Income tax effect 17,066,302
Minority interests effect (after-tax) 1,318,841
Total 63,587,210 --
The reasons shall be made clear and definitely as to the extraordinary profit and loss that the
Company has defined by virtue of the Explanatory Announcement on Public Company’s
Information Disclosure No.1 - Extraordinary Profit and Loss and as to regarding the extraordinary
profit and loss as recurrent profit and loss as specified in the Explanatory Announcement on Public
Company’s Information Disclosure No.1 - Extraordinary Profit and Loss.
Available Not available
There is no situation regarding the extraordinary profit and loss as defined and specified in the
Explanatory Announcement on Public Company’s Information Disclosure No.1 - Extraordinary
Profit and Loss as recurrent profit and loss.
2. The total number of shareholders and the shareholding of top 10 shareholders at the end
of the report period
1) The total number of common shareholders and the total number of preferred
shareholders with recovered voting power as well as the shareholding of top 10
shareholders
Unit: share
Total number of preferred
Total number of common
shareholders with recovered
shareholders at the end of report 48,873 0
voting power at the end of
period
report period (if have)
The top 10 common shareholders
Shareholding Number of Number Pledged or
Character of
Name of Shareholders ratio holding of frozen
shareholders
(%) shares restricted Share Number
5
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
shares status
Domestic
YANTAI CHANGYU GROUP non-state-
50.40% 345,473,856 — —
CO., LTD. owned legal
person
Foreign legal
GAOLING FUND, L.P. person 3.08% 21,090,219 — —
CHINA SECURITIES FINANCE State-owned
legal person 2.25% 15,440,794 — —
CORP
BBH BOS S/A FIDELITY FD - Foreign legal
2.02% 13,822,699 — —
CHINA FOCUS FD person
SHENWAN HONGYUAN
Foreign legal
SECURITIES(HONG KONG) 1.20% 8,228,333 — —
person
LIMITED
FIDELITY PURITAN TRUST:
Foreign legal
FIDELITY SERIES INTRINSIC 0.93% 6,350,762 — —
person
OPPORTUNITIES FUND
GUOTAI JUNAN
Foreign legal
SECURITIES(HONGKONG) 0.76% 5,215,446 — —
person
LIMITED
CENTRAL HUIJIN ASSET State-owned
0.69% 4,761,200 — —
MANAGEMENT LTD. legal person
HAITONG INTERNATIONAL
Foreign legal
SECURITIES COMPANY 0.68% 4,687,187 — —
person
LIMITED-ACCOUNT CLIENT
FIDELITY CHINA SPECIAL Foreign legal
0.55% 3,779,202 — —
SITUATIONS PLC person
The shareholding of top 10 shareholders with unrestricted shares
Number of Type of share
Name of Shareholders unrestricted
Type of share Number
shares held
YANTAI CHANGYU GROUP CO., LTD. 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 13,822,699 B share 13,822,699
SHENWAN HONGYUAN SECURITIES(HONG
8,228,333 B share 8,228,333
KONG) LIMITED
FIDELITY PURITAN TRUST: FIDELITY SERIES
6,350,762 B share 6,350,762
INTRINSIC OPPORTUNITIES FUND
GUOTAI JUNAN SECURITIES(HONGKONG)
5,215,446 B share 5,215,446
LIMITED
CENTRAL HUIJIN ASSET MANAGEMENT LTD. 4,761,200 A share 4,761,200
HAITONG INTERNATIONAL SECURITIES
4,687,187 B share 4,687,187
COMPANY LIMITED-ACCOUNT CLIENT
FIDELITY CHINA SPECIAL SITUATIONS PLC 3,779,202 B share 3,779,202
Yantai Changyu Group Company Limited has no associated
The explanation for the associated
relationship or accordant action relationship with the other 9 listed
relationship and accordant action of
shareholders, and the relationship among the other shareholders is
the top 10 shareholders
unknown.
6
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Explanation for the top 10
shareholders who involved in
No
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 conduct agreed buy-back transaction during the report period
Yes No
There are no top 10 common shareholders or top 10 common shareholders with unrestricted shares
in the Company conduct agreed buy-back transaction during the report period.
2) The total number of preferred shareholders and the shareholding of top 10 preferred
shareholders
Available Not available
7
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
III. Major Issue
1. Situation and reasons on changes in main financial data and financial index during the report period
Available Not available
Unit: CNY
Ending Initial
Item Increase rate Reason for change
balance balance
Accounts receivables 163,837,210 265,693,603 -38.34% Mainly due to decrease in trade receivables
Account prepaid 22,130,403 67,840,190 -67.38% Mainly due to decrease in advance payment for raw materials
Other receivables 65,496,611 24,380,907 168.64% Mainly due to receivables from disposal of fixed assets
Interest receivable 634,668 148,927 326.16% Mainly due to increase in interest receivable of fixed deposit
Mainly due to being included in contract liability in accordance
Advance receipts 131,429,639 -100.00%
with new Revenue Standards in 2020
Long-term borrowing 203,994,136 128,892,501 58.27% Mainly due to increase in long-term borrowing from the bank
Amount in Amount in
Item Increase rate Reason for change
current period last period
Mainly due to decrease in product sales volume affected by
Operating income 2,192,739,690 3,553,926,816 -38.30%
COVID-19
Mainly due to reduce in marketing activities affected by
Selling expenses 421,620,422 932,125,012 -54.77%
COVID-19
Loss of credit impairment
3,125,029 -2,183,171 Not applicable Mainly due to the turn back of provision for bad debts
(loss is listed with "-")
Loss of impairment of assets Mainly due to the turn back of preparation for assets
5,083,785.00 1,691,320 200.58%
(loss is listed with "-") impairment
Net profits attributed to the
403,760,926 740,898,517 -45.50% Mainly due to decrease in sales revenue affected by COVID-19
owner of parent company
8
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Cash received from sales of
2,310,331,855 3,404,022,629 -32.13% Mainly due to decrease in sales revenue affected by COVID-19
goods and rending of services
Sub-total of cash inflows of
2,413,325,169 3,519,431,675 -31.43% Mainly due to decrease in sales revenue affected by COVID-19
operating activities
Net cash flow from operating
252,437,074 656,726,875 -61.56% Mainly due to decrease in sales revenue affected by COVID-19
activities
Sub-total of cash inflows of Mainly due to decrease in cash received from return of fixed
82,752,204 175,995,217 -52.98%
investment activities deposit
Cash paid to acquire fixed
Mainly due to decrease in cash invested in new project and
assets, intangible asset and 100,318,579 201,434,544 -50.20%
continued project
other long-term assets
Cash paid to acquire fixed
58,200,000 113,718,193 -48.82% Mainly due to decrease in fixed deposit
deposit
2. Analysis explanation of the major issue’s progress as well as its influence and solution
Available Not available
Implementation progress of share repurchases
Available Not available
Implementation progress of reducing repurchased shares by the way of centralized competitive bidding
Available Not available
9
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
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 the report period
Available Not available
Commitment Commitment Commitment Commitment
Commitments Commitment content Implementation
Party Type time period
Commitments at share reform
Commitments made in
acquisition report or equity
changes report
Commitments at asset
restructuring
Yantai Changyu Solve horizontal Has been fulfilling
Non-horizontal competition 1997.05.18 Permanent
Group Co., Ltd. competition the commitment
According to
Trademark License
According to Trademark Contract, the
License Contract, the annual annual trademark
trademark use fee of trademarks use fee charged by
including “张裕” (Changyu) Yantai Changyu
Commitments at the initial
Define the use paid by the Company to Yantai 1997.05.18 Group Co., Ltd.
public offering or refinancing Yantai Changyu
of trademark Changyu Group Co., Ltd. 1997.05.18 to should be mainly
Group Co., Ltd.
use fee should be mainly used by 2019.04.04 used to publicize
Yantai Changyu Group Co., trademarks
Ltd. to publicize trademarks including “张裕”
including “张裕” (Changyu) (Changyu) and
and contractual products. contractual
products. Except
the period from
10
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
2013 to 2017 when
Yantai Changyu
Group Co., Ltd.
Didn’t strictly
fulfill the
commitment,
Yantai Changyu
Group Co., Ltd. has
been fulfilling the
commitment.
Equity incentive commitments
The CNY231,768,615 that was
not used for publicity of
trademarks and contract
products as promised will be
offset by the four-year
Commitments made to the Compensating trademark use fee from 2019 to 2019.04.04
Yantai Changyu Has been fulfilling
minority shareholders of the unfulfilled 2022. If insufficient, the 2019.04.04 to
Group Co., Ltd. the commitment
Company commitment shortfall would be filled in one 2023.12.31
time in 2023. If there is any
excess, the excess portion of the
trademark use fee would be
collected from the year with
excess occurrence.
Commitment under timely implementation or not No
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,
For commitments that exceed the time limit and
the above-mentioned “mainly” is not a specific number. During the implementation process, due to
are not completed, specific reasons of not
inconsistent understanding, it is easy to cause divergence and leads to problems.
completing the implementation and the next step
From 2013 to 2017, Changyu Group collected a total of CNY420,883,902 trademark use fee, of
which 51% was used to publicize trademarks including Changyu and contract products with amount
of CNY214,650,790. The amount has been used to publicize trademarks including Changyu and
11
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
contract products is CNY50,025,181, with a balance of CNY164,625,609.
In 2018 and 2019, the trademark use fee collected of 2017 and 2018 is CNY155,623,907, of which
51% is used to publicize trademarks including Changyu and contract products with amount of
CNY79,368,193. The amount has been used to publicize trademarks including Changyu and
contract products is CNY12,225,187, with a balance of CNY67,143,006.
Since 2013, the accumulated balance of Changyu Group using to publicize trademarks including
Changyu and contract products is CNY231,768,615.
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 Announcement of Commitment Issues of Yantai Changyu
Group Co., Ltd. disclosed on April 4th, 2019.
12
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
4. Financial assets investment
1) The situation of security investment
Available Not available
There is no security investment during the report period.
2) The situation of derivative investment
Available Not available
There is no derivative investment during the report period.
5. Progress of fund-raising investment project
Available Not available
6. Prediction for 2020 annual business performance
Warning and cause explanation for the prediction that the cumulative net profit from the beginning
of the year to the end of the next report period might be a loss or might occur a significant change
compared with the same period of last year
Available Not available
7. Major contracts during daily operations
Available Not available
8. Entrusted financial management
Available Not available
There is no entrusted financial management during the report period.
9. The situation of illegal external guarantee
Available Not available
There is no illegal external guarantee during the report period.
10. The 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.
11. The activity registration form of receptions, communication and interview etc. during the
report period
13
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Available Not available
There is no reception, communication or interview etc. during the report period.
14
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Ⅳ. Financial Statements
1. Financial statements
1) Consolidated balance sheet
Yantai Changyu Pioneer Wine Co., Ltd. Unit: CNY
Item September 30th, 2020 December 31st, 2019
Current Assets：
Monetary fund 1,203,006,675 1,597,410,774
Petty cash
Lending funds
Transactional financial assets
Derivative financial assets
Notes receivable
Accounts receivable 163,837,210 265,693,603
Receivables Financing 247,698,065 317,270,229
Accounts prepaid 22,130,403 67,840,190
Premiums receivable
Reinsurance accounts receivable
Receivable reserves for reinsurance contract
Other receivables 65,496,611 24,380,907
Including: Interest receivable 634,668 148,927
Dividends receivable
Buying back the sale of financial assets
Inventory 2,936,748,059 2,903,817,750
Contract assets
Assets classified as holding for sale
Non-current assets expire in one year
Other current assets 259,694,494 269,931,887
Total Current Assets 4,898,611,517 5,446,345,340
Non-current Assets：
Offering loans and imprest
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 42,725,025 43,981,130
Investment in other equity instrument
Other non-current financial assets
Real estate for investment 27,333,702 29,714,586
Fixed assets 5,759,324,713 5,943,969,100
Construction in progress 672,423,746 567,478,833
Biological assets for production 193,294,233 202,425,286
Oil and gas assets
Right-of-use assets
Intangible assets 645,257,046 652,543,848
15
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Development expenditure
Goodwill 141,859,193 141,859,193
Long-term deferred expenses 270,342,238 280,478,194
Deferred tax assets 218,464,419 264,768,008
Other non-current assets 179,882,024 193,674,320
Total Non-Current Assets 8,150,906,339 8,320,892,498
Total Assets 13,049,517,856 13,767,237,838
Current liabilities：
Short-term loan 687,389,648 754,313,744
Borrowings from the Central Bank
Borrowing funds
Transactional financial liability
Derivative financial liabilities
Notes payable
Accounts payable 422,825,916 570,506,459
Advances from customers 131,429,639
Contract liabilities 134,944,827
Sales/buyback financial assets
Customer and interbank deposits
Acting trading securities
Acting underwriting securities
Wage payable 153,025,619 235,555,474
Tax payable 179,804,765 375,582,368
Other accounts payable 400,730,391 463,433,185
Including: Interest payable 2,370,128 758,047
Dividend payable 6,252,201 1,366,559
Payable handling fees and commission
Dividend payable for reinsurance
Liabilities classified as holding for sale
Non-current liabilities expire in one year 153,726,948 150,826,221
Other current liabilities 17,542,827
Total Current Liabilities 2,149,990,941 2,681,647,090
Non-Current Liabilities:
Insurance contract reserve
Long-term borrowings 203,994,136 128,892,501
Bonds payable
Including: Preferred Stock
Perpetual capital securities
Lease liability
Long-term accounts payable 166,977,000 191,000,000
Long-term accrued payroll
Estimated liabilities
Deferred income 58,783,709 70,701,288
Deferred tax liabilities 13,430,542 14,691,424
Other non-current liabilities 7,645,777 7,645,777
Total non-current liabilities 450,831,164 412,930,990
Total liabilities 2,600,822,105 3,094,578,080
Owner’s equity (or shareholders’ equity):
16
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Capital stock 685,464,000 685,464,000
Other equity instruments
Including: Preferred Stock
Perpetual capital securities
Capital reserve 531,802,207 642,775,360
Minus: treasury stock
Other comprehensive income -6,867,531 -4,235,583
Special reserves
Surplus reserve 342,732,000 342,732,000
General risk preparation
Undistributed profits 8,645,814,361 8,734,335,311
Total owner's equity attributable to the holding
10,198,945,037 10,401,071,088
company
Minority interests 249,750,714 271,588,670
Total owner's equity 10,448,695,751 10,672,659,758
Total liabilities and owner's equity 13,049,517,856 13,767,237,838
Legal representative: Zhou Hongjiang; Person in charge of accounting : Jiang Jianxun; Person in
charge of accounting organ: Guo Cuimei
2) Balance sheet of parent company
Unit: CNY
Item September 30 , 2020
th
December 31st, 2019
Current Assets：
Monetary fund 283,795,444 710,505,269
Transactional financial assets
Derivative financial assets
Notes receivable
Accounts receivable 1,076,952 1,988,326
Receivables Financing 24,736,524 41,679,635
Accounts prepaid 2,867,357 776,539
Other receivables 273,989,436 586,424,958
Including: Interest receivable 290,661 90,355
Dividends receivable 2,985,375 200,000,000
Inventory 492,785,866 434,007,808
Contract assets
Assets classified as holding for sale
Non-current assets expire in one year
Other current assets 34,002,542 39,130,466
Total Current Assets 1,113,254,121 1,814,513,001
Non-current Assets：
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 7,571,920,448 7,432,422,621
Investment in other equity instrument
Other non-current financial assets
Real estate for investment 29,714,586 29,714,586
Fixed assets 242,616,583 261,137,072
17
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Construction in progress 1,578,127
Biological assets for production 115,250,024 121,414,096
Oil and gas assets
Right-of-use assets
Intangible assets 63,080,549 64,864,913
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 17,404,533 16,255,870
Other non-current assets 1,534,700,000 1,427,700,000
Total Non-Current Assets 9,576,264,850 9,353,509,158
Total Assets 10,689,518,971 11,168,022,159
Current liabilities：
Short-term loan 150,000,000 150,000,000
Transactional financial liability
Derivative financial liabilities
Notes payable
Accounts payable 30,321,882 63,655,240
Advances from customers
Contract liabilities
Wage payable 58,238,348 70,445,847
Tax payable 7,610,188 6,052,456
Other accounts payable 601,714,603 660,149,563
Including: Interest payable 137,671 181,250
Dividend payable
Liabilities classified as holding for sale
Non-current liabilities expire in one year
Other current liabilities
Total Current Liabilities 847,885,021 950,303,106
Non-Current Liabilities:
Long-term borrowings
Bonds payable
Including: Preferred Stock
Perpetual capital securities
Lease liability
Long-term accounts payable
Long-term accrued payroll
Estimated liabilities
Deferred income 7,101,526 9,176,315
Deferred tax liabilities
Other non-current liabilities 3,146,706 3,146,707
Total non-current liabilities 10,248,232 12,323,022
Total liabilities 858,133,253 962,626,128
Owner’s equity (or shareholders’ equity):
Capital stock 685,464,000 685,464,000
Other equity instruments
Including: Preferred Stock
Perpetual capital securities
Capital reserve 559,208,768 557,222,454
18
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Minus: treasury stock
Other comprehensive income
Special reserves
Surplus reserve 342,732,000 342,732,000
Undistributed profits 8,243,980,950 8,619,977,577
Total owner's equity 9,831,385,718 10,205,396,031
Total liabilities and owner's equity 10,689,518,971 11,168,022,159
3) Consolidated profit statement in this report period
Unit: CNY
Amount in this report Amount in prior
Item
period report period
1. Revenue 774,191,143 980,743,772
Including: Operating income 774,191,143 980,743,772
Interest income
Earned premium
Handling fees and commission income
2. Total operating costs 674,063,423 805,641,704
Including: Operating costs 375,604,374 344,875,471
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 47,921,208 62,399,991
Selling expenses 168,492,290 324,667,610
Administrative expenses 77,883,831 63,818,231
Research and development expenditure 869,269 1,149,179
Financial expenses 3,292,451 8,731,222
Including: Interest expenses 10,174,541 9,525,615
Interest income 3,760,898 5,613,745
Plus:Other income 15,671,759 4,809,425
Investment profit (loss is listed with "-") -85,420 -128,956
Including: Investment profit for joint-run
-85,420 -959,797
business and joint venture
Termination of recognized income of
financial assets measured at amortized cost
Exchange income (loss is listed with "-")
Net exposure hedging income (Loss is listed with
“-”)
Fair value charge profit (loss is listed with "-")
Loss of credit impairment(loss is listed with "-") 3,024,194 -2,284,006
Loss for impairment of assets(loss is listed with "-
1,474,952 -3,590,639
")
19
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Assets disposal income (loss is listed with "-") -1,163,931 -167,802
3. Operating profit (loss is listed with "-") 119,049,274 173,740,090
Plus: Non-operating income 932,994 2,705,357
Minus: Non-operating expenditure 46,725 730,796
4. Total profits (total loss is listed with "-") 119,935,543 175,714,651
Minus: Income taxes 33,798,402 45,230,193
5. Net profit (net loss is listed with "-") 86,137,141 130,484,458
（一）Classification by continuous operation
1.Net profit from continuous operation(net loss is listed
with "-")
2.Net profit from terminational operation(net loss is listed
with "-")
(二)Classification by ownership
1.Net profits attribute to equity holders of the company 85,120,851 130,147,686
2. Minority interests 1,016,290 336,772
6. Net value of other comprehensive income after tax 3,475,361 -16,794,085
6.1 Net value of other comprehensive income after tax of
2,374,705 -16,794,085
holding company's owners
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
2,374,705 -16,794,085
classified into the profit and loss
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 Amount of financial assets re-classify to other
comprehensive income
6.1.2.4 Credit impairment provision for other debt
investment
6.1.2.5 Cash flow hedging reserve
6.1.2.6 Translation differences arising on translation of
2,374,705 -16,794,085
foreign currency financial statements
6.1.2.7 Other
6.2 Net value of other comprehensive income after tax
1,100,656
of minority shareholders
7.Total comprehensive Income 89,612,502 113,690,373
Total comprehensive income of holding company 87,495,556 113,353,601
Total comprehensive income of minority shareholders 2,116,946 336,772
8. Earnings per share
8.1 Basic earnings per share 0.12 0.19
8.2 Diluted earnings per share 0.12 0.19
20
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
During this report period, the issue relates to company consolidation under common control,
consolidated party completes net profit amount of CNY924,213 before being consolidated, and
consolidated party completes net profit amount of CNY4,885,903 in the same period of last year.
Legal representative: Zhou Hongjiang; Person in charge of accounting: Jiang Jianxun; Person in
charge of accounting organ: Guo Cuimei
4) Profit statement of parent company in this report period
Unit: CNY
Amount in this Amount in prior
Item
report period report period
1. Revenue 105,418,687 200,488,769
Minus: Operating costs 87,036,926 184,071,670
Taxes and surcharges 4,744,353 10,446,607
Selling expenses
Administrative expenses 14,936,063 16,494,204
Research and development expenditure 175,365 206,023
Financial expenses -1,086,829 -547,440
Including: Interest expenses 2,108,757 2,190,828
Interest income 2,792,562 3,602,659
Plus:Other income 858,264 858,264
Investment profit (loss is listed with "-") 32,523,818 55,000,000
Including: Investment profit for joint-run business and
joint venture
Termination of recognized income of financial
assets measured at amortized cost (loss is listed with "-")
Net exposure hedging income (Loss is listed with “-”)
Fair value charge profit (loss is listed with "-")
Loss of credit impairment (loss is listed with "-")
Loss for impairment of assets (loss is listed with "-")
Assets disposal income (loss is listed with "-") 21,901
2. Operating profit (loss is listed with "-") 32,989,823 45,697,870
Plus: Non-operating income 51,398 122,208
Minus: Non-operating expenses 748,159
3. Total profits (total loss is listed with "-") 33,041,221 45,071,919
Minus: Income tax 160,153 -181,802
4. Net profit (net loss is listed with "-") 32,881,068 45,253,721
1.Net profit from continuous operation (net loss is listed with "-") 32,881,068 45,253,721
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
21
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
5.1.5 Other
5.2 Other comprehensive income that will be classified 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 Amount of financial assets re-classify to other
comprehensive income
5.2.4 Credit impairment provision for other debt investment
5.2.5 Cash flow hedging reserve
5.2.6 Translation differences arising on translation of foreign
currency financial statements
5.2.7 Other
6. Total comprehensive income 32,881,068 45,253,721
7. Earnings per share
7.1 Basic earnings per share 0.05 0.07
7.2 Diluted earnings per share 0.05 0.07
5) Consolidated profit statement from the beginning of the year to the end of the report
period
Unit: CNY
Amount in this Amount in prior
Item
report period report period
1. Revenue 2,192,739,690 3,553,926,816
Including: Operating income 2,192,739,690 3,553,926,816
Interest income
Earned premium
Handling fees and commission income
2. Total operating costs 1,717,091,047 2,629,345,172
Including: Operating costs 950,246,786 1,269,673,410
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 136,365,030 186,796,533
Selling expenses 421,620,422 932,125,012
Administrative expenses 190,953,700 219,370,543
Research and development expenditure 2,675,257 3,855,990
Financial expenses 15,229,852 17,523,684
Including: Interest expenses 25,065,852 19,338,175
Interest income 9,907,308 10,250,903
Plus:Other income 66,451,990 69,021,317
Investment profit (loss is listed with "-") -1,256,105 -128,956
22
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Including: Investment profit for joint-run business and
-1,256,105 -959,797
joint venture
Termination of recognized income of financial
assets measured at amortized cost (loss is listed with "-")
Exchange income (loss is listed with "-")
Net exposure hedging income (Loss is listed with “-”)
Fair value charge profit (loss is listed with "-")
Loss of credit impairment(loss is listed with "-") 3,125,029 -2,183,171
Loss for impairment of assets(loss is listed with "-") 5,083,785 1,691,320
Assets disposal income (loss is listed with "-") -1,139,783 -166,664
3. Operating profit (loss is listed with "-") 547,913,559 992,815,490
Plus: Non-operating income 7,619,514 6,340,525
Minus: Non-operating expenditure 1,073,199 902,287
4. Total profits (total loss is listed with "-") 554,459,874 998,253,728
Minus: Income taxes 147,252,351 257,857,213
5. Net profit (net loss is listed with "-") 407,207,523 740,396,515
（一）Classification by continuous operation
1.Net profit from continuous operation(net loss is listed with "-")
2.Net profit from terminational operation(net loss is listed with "-")
(二)Classification by ownership
1.Net profits attribute to equity holders of the company 403,760,926 740,898,517
2. Minority interests 3,446,597 -502,002
6. Net value of other comprehensive income after tax -2,290,461 -21,451,376
6.1 Net value of other comprehensive income after tax of holding
-2,631,948 -19,854,806
company's owners
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
-2,631,948 -19,854,806
classified into the profit and loss
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 Amount of financial assets re-classify to other
comprehensive income
6.1.2.4 Credit impairment provision for other debt investment
6.1.2.5 Cash flow hedging reserve
6.1.2.6 Translation differences arising on translation of foreign
-2,631,948 -19,854,806
currency financial statements
23
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
6.1.2.7 Other
6.2 Net value of other comprehensive income after tax
341,487 -1,596,570
of minority shareholders
7.Total comprehensive Income 404,917,062 718,945,139
Total comprehensive income of holding company 401,128,978 721,043,711
Total comprehensive income of minority shareholders 3,788,084 -2,098,572
8. Earnings per share
8.1 Basic earnings per share 0.59 1.08
8.2 Diluted earnings per share 0.59 1.08
During this report period, the issue relates to company consolidation under common control,
consolidated party completes net profit amount of CNY12,943,426 before being consolidated, and
consolidated party completes net profit amount of CNY12,619,645 in the same period of last year.
Legal representative: Zhou Hongjiang; Person in charge of accounting: Jiang Jianxun; Person in
charge of accounting organ: Guo Cuimei
6) Profit statement of parent company from the beginning of the year to the end of the report
period
Unit: CNY
Amount in this Amount in prior
Item
report period report period
1. Revenue 258,369,202 552,839,771
Minus: Operating costs 230,278,120 493,642,250
Taxes and surcharges 9,123,718 23,586,763
Selling expenses
Administrative expenses 45,086,374 55,928,450
Research and development expenditure 494,283 611,084
Financial expenses -152,052 -4,204,810
Including: Interest expenses 4,916,507 -514,245
Interest income 5,043,797 5,073,326
Plus: Other income 2,678,154 2,574,791
Investment profit (loss is listed with "-") 119,998,422 319,221,755
Including: Investment profit for joint-run business and
joint venture
Termination of recognized income of financial
assets measured at amortized cost (loss is listed with "-")
Net exposure hedging income (Loss is listed with “-”)
Fair value charge profit (loss is listed with "-")
Loss of credit impairment (loss is listed with "-")
Loss for impairment of assets (loss is listed with "-")
Assets disposal income (loss is listed with "-") 21,901
2. Operating profit (loss is listed with "-") 96,809,899 305,094,481
Plus: Non-operating income 2,058,634 825,767
Minus: Non-operating expenses 525,000 845,797
3. Total profits (total loss is listed with "-") 98,343,533 305,074,451
Minus: Income tax -5,484,640 -908,748
24
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
4. Net profit (net loss is listed with "-") 103,828,173 305,983,199
1.Net profit from continuous operation (net loss is listed with "-") 103,828,173 305,983,199
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
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 Amount of financial assets re-classify to other
comprehensive income
5.2.4 Credit impairment provision for other debt investment
5.2.5 Cash flow hedging reserve
5.2.6 Translation differences arising on translation of foreign
currency financial statements
5.2.7 Other
6. Total comprehensive income 103,828,173 305,983,199
7. Earnings per share
7.1 Basic earnings per share 0.15 0.45
7.2 Diluted earnings per share 0.15 0.45
7) Consolidated cash flow statement from the beginning of the year to the end of the report
period
Unit: CNY
Amount in this report Amount in prior report
Item
period period
1. Cash flows from operating activities:
Cash received from sales of goods and rending of
2,310,331,855 3,404,022,629
services
Net increase in customer and interbank deposits
Net increase in borrowings from central bank
Net increase in borrowings from other financial
institutions
25
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
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 33,733,604 29,762,041
Other cash received related to operating activities 69,259,710 85,647,005
Sub-total of cash inflows of operating activities 2,413,325,169 3,519,431,675
Cash paid for goods and services 855,818,928 1,207,473,323
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 325,519,463 385,086,539
Cash paid for taxes and expenses 605,846,671 685,034,497
Other cash paid related to operating activities 373,703,033 585,110,441
Sub-total of cash outflows of operating activities 2,160,888,095 2,862,704,800
Net cash flow from operating activities 252,437,074 656,726,875
2. Cash flow from investing activities:
Cash received from return of investment
Cash received from return of fixed deposit 80,128,600 174,597,650
Cash received from obtaining investment profit
Cash received from interest income 1,484,244 1,199,968
Cash received from disposal of fixed assets,
1,139,360 197,599
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
Sub-total of cash inflows of investment activities 82,752,204 175,995,217
Cash paid to acquire fixed assets, intangible asset
100,318,579 201,434,544
and other long-term assets
Cash for investments 401,647
Cash paid to acquire fixed deposit 58,200,000 113,718,193
Net increase in hypothecated loan
Net cash paid to acquire branch and other business
unit
Other cash paid related to investment activities 170,752
Subtotal of cash outflows of investment activities 158,518,579 315,725,136
Net cash flow from investing activities -75,766,375 -139,729,919
3. Cash flow from financing activities
26
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Cash received from acquiring investment
Including: Cash received from acquiring minority
shareholders' investment by branch
Cash received from acquiring loans 784,217,057 684,581,027
Other cash received related to financing activities
Sub-total cash inflows of financing activities 784,217,057 684,581,027
Cash paid to repay debts 775,223,291 697,660,583
Cash paid to distribute dividend, profit or pay
514,217,826 446,242,354
interest
Including: Dividend and profit paid to minority
2,932,523
shareholders by branch
Other cash paid related to financing activities 44,025,637
Sub-total of cash outflows of financing activities 1,333,466,754 1,143,902,937
Net cash flow from financing activities -549,249,697 -459,321,910
4. Influences of exchange rate fluctuation on cash and
-301,828 -308,084
cash equivalents
5. Net Increase of cash and cash equivalents -372,880,826 57,366,962
Plus: balance at the beginning of the period of cash
1,397,399,469 1,236,286,115
and cash equivalents
6. Balance at the end of the period of cash and cash
1,024,518,643 1,293,653,077
equivalents
8) Cash flow statement of parent company from the beginning of the year to the end of the
report period
Unit: CNY
Amount in this report Amount in prior report
Item
period period
1. Cash flows from operating activities:
Cash received from sales of goods and rending of
240,400,432 442,359,311
services
Tax refund received
Other cash received related to operating activities 19,575,796 44,030,652
Sub-total of cash inflows of operating activities 259,976,228 486,389,963
Cash paid for goods and services 171,128,867 332,017,753
Cash paid to and on behalf of employees 46,232,646 57,697,044
Cash paid for taxes and expenses 4,938,030 34,602,597
Other cash paid related to operating activities 153,027,196 236,084,524
Sub-total of cash outflows of operating activities 375,326,739 660,401,918
Net cash flow from operating activities -115,350,511 -174,011,955
2. Cash flow from investing activities:
Cash received from return of investment
Cash received from return of fixed deposit 35,200,000 110,000,000
Cash received from obtaining investment profit 319,744,088 815,117,830
Cash received from interest income 493,434 715,111
Cash received from disposal of fixed assets,
83,699 29,815
intangible assets and other long-term assets
27
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
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 355,521,221 925,862,756
Cash paid to acquire fixed assets, intangible asset
2,411,971 14,223,638
and other long-term assets
Cash for investments 47,991,725 265,479,443
Cash paid to acquire fixed deposit 38,200,000 105,238,750
Net cash paid to acquire branch and other business
unit
Other cash paid related to investment activities 97,000,000
Subtotal of cash outflows of investment activities 185,603,696 384,941,831
Net cash flow from investing activities 169,917,525 540,920,925
3. Cash flow from financing activities
Cash received from acquiring investment
Cash received from acquiring loans 150,000,000
Other cash received related to financing activities
Sub-total cash inflows of financing activities 150,000,000
Cash paid to repay debts 150,000,000
Cash paid to distribute dividend, profit or pay
484,681,932 416,717,150
interest
Other cash paid related to financing activities
Sub-total of cash outflows of financing activities 634,681,932 416,717,150
Net cash flow from financing activities -484,681,932 -416,717,150
4. Influences of exchange rate fluctuation on cash
and cash equivalents
5. Net Increase of cash and cash equivalents -430,114,918 -49,808,180
Plus: balance at the beginning of the period of cash
623,116,542 532,384,882
and cash equivalents
6. Balance at the end of the period of cash and cash
193,001,624 482,576,702
equivalents
2. Explanation for adjustment in financial statements
1) The situation of adjusting related items in financial statements at the beginning of 2020
owing to the first implementation of new Revenue Standards and new Lease Standards since
2020
Available Not available
Whether needs to adjust the balance sheet account at the beginning of the year
Yes No
28
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Consolidated balance sheet
Unit: CNY
Adjusted
Item December 31st, 2019 January 1st, 2020
amount
Current Assets：
Monetary fund 1,597,410,774 1,597,410,774
Petty cash
Lending funds
Transactional financial assets
Derivative financial assets
Notes receivable
Accounts receivable 265,693,603 265,693,603
Receivables Financing 317,270,229 317,270,229
Accounts prepaid 67,840,190 67,840,190
Premiums receivable
Reinsurance accounts receivable
Receivable reserves for reinsurance contract
Other receivables 24,380,907 24,380,907
Including: Interest receivable 148,927 148,927
Dividends receivable
Buying back the sale of financial assets
Inventory 2,903,817,750 2,903,817,750
Contract assets
Assets classified as holding for sale
Non-current assets expire in one year
Other current assets 269,931,887 269,931,887
Total Current Assets 5,446,345,340 5,446,345,340
Non-current Assets：
Offering loans and imprest
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 43,981,130 43,981,130
Investment in other equity instrument
Other non-current financial assets
Real estate for investment 29,714,586 29,714,586
Fixed assets 5,943,969,100 5,943,969,100
Construction in progress 567,478,833 567,478,833
Biological assets for production 202,425,286 202,425,286
Oil and gas assets
Right-of-use assets
Intangible assets 652,543,848 652,543,848
Development expenditure
Goodwill 141,859,193 141,859,193
Long-term deferred expenses 280,478,194 280,478,194
Deferred tax assets 264,768,008 264,768,008
Other non-current assets 193,674,320 193,674,320
Total Non-Current Assets 8,320,892,498 8,320,892,498
Total Assets 13,767,237,838 13,767,237,838
29
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Current liabilities：
Short-term loan 754,313,744 754,313,744
Borrowings from the Central Bank
Borrowing funds
Transactional financial liability
Derivative financial liabilities
Notes payable
Accounts payable 570,506,459 570,506,459
Advances from customers 131,429,639 -131,429,639
Contract liabilities 116,309,415 116,309,415
Sales/buyback financial assets
Customer and interbank deposits
Acting trading securities
Acting underwriting securities
Wage payable 235,555,474 235,555,474
Tax payable 375,582,368 375,582,368 0
Other accounts payable 463,433,185 463,433,185
Including: Interest payable 758,047 758,047
Dividend payable 1,366,559 1,366,559
Payable handling fees and commission
Dividend payable for reinsurance
Liabilities classified as holding for sale
Non-current liabilities expire in one year 150,826,221 150,826,221
Other current liabilities 15,120,224 15,120,224
Total Current Liabilities 2,681,647,090 2,681,647,090 0
Non-Current Liabilities:
Insurance contract reserve
Long-term borrowings 128,892,501 128,892,501
Bonds payable
Including: Preferred Stock
Perpetual capital securities
Lease liability
Long-term accounts payable 191,000,000 191,000,000
Long-term accrued payroll
Estimated liabilities
Deferred income 70,701,288 70,701,288
Deferred tax liabilities 14,691,424 14,691,424
Other non-current liabilities 7,645,777 7,645,777
Total non-current liabilities 412,930,990 412,930,990
Total liabilities 3,094,578,080 3,094,578,080
Owner’s equity (or shareholders’ equity):
Capital stock 685,464,000 685,464,000
Other equity instruments
Including: Preferred Stock
Perpetual capital securities
Capital reserve 642,775,360 642,775,360
Minus: treasury stock
Other comprehensive income -4,235,583 -4,235,583
Special reserves
30
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Surplus reserve 342,732,000 342,732,000
General risk preparation
Undistributed profits 8,734,335,311 8,734,335,311
Total owner's equity attributable to the
10,401,071,088 10,401,071,088
holding company
Minority interests 271,588,670 271,588,670
Total owner's equity 10,672,659,758 10,672,659,758
Total liabilities and owner's equity 13,767,237,838 13,767,237,838
Explanation for adjustment
Balance sheet of parent company
Unit: CNY
Adjusted
Item December 31st, 2019 January 1st, 2020
amount
Current Assets：
Monetary fund 710,505,269 710,505,269
Transactional financial assets
Derivative financial assets
Notes receivable
Accounts receivable 1,988,326 1,988,326
Receivables Financing 41,679,635 41,679,635
Accounts prepaid 776,539 776,539
Other receivables 586,424,958 586,424,958
Including: Interest receivable 90,355 90,355
Dividends receivable 200,000,000 200,000,000
Inventory 434,007,808 434,007,808
Contract assets
Assets classified as holding for sale
Non-current assets expire in one year
Other current assets 39,130,466 39,130,466
Total Current Assets 1,814,513,001 1,814,513,001
Non-current Assets：
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 7,432,422,621 7,432,422,621
Investment in other equity instrument
Other non-current financial assets
Real estate for investment 29,714,586 29,714,586
Fixed assets 261,137,072 261,137,072
Construction in progress
Biological assets for production 121,414,096 121,414,096
Oil and gas assets
Right-of-use assets
Intangible assets 64,864,913 64,864,913
Development expenditure
Goodwill
Long-term deferred expenses
Deferred tax assets 16,255,870 16,255,870
31
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
Other non-current assets 1,427,700,000 1,427,700,000
Total Non-Current Assets 9,353,509,158 9,353,509,158
Total Assets 11,168,022,159 11,168,022,159
Current liabilities：
Short-term loan 150,000,000 150,000,000
Transactional financial liability
Derivative financial liabilities
Notes payable
Accounts payable 63,655,240 63,655,240
Advances from customers
Contract liabilities
Wage payable 70,445,847 70,445,847
Tax payable 6,052,456 6,052,456
Other accounts payable 660,149,563 660,149,563
Including: Interest payable 181,250 181,250
Dividend payable
Liabilities classified as holding for sale
Non-current liabilities expire in one year
Other current liabilities
Total Current Liabilities 950,303,106 950,303,106
Non-Current Liabilities:
Long-term borrowings
Bonds payable
Including: Preferred Stock
Perpetual capital securities
Lease liability
Long-term accounts payable
Long-term accrued payroll
Estimated liabilities
Deferred income 9,176,315 9,176,315
Deferred tax liabilities
Other non-current liabilities 3,146,707 3,146,707
Total non-current liabilities 12,323,022 12,323,022
Total liabilities 962,626,128 962,626,128
Owner’s equity (or shareholders’ equity):
Capital stock 685,464,000 685,464,000
Other equity instruments
Including: Preferred Stock
Perpetual capital securities
Capital reserve 557,222,454 557,222,454
Minus: treasury stock
Other comprehensive income
Special reserves
Surplus reserve 342,732,000 342,732,000
Undistributed profits 8,619,977,577 8,619,977,577
Total owner's equity 10,205,396,031 10,205,396,031
Total liabilities and owner's equity 11,168,022,159 11,168,022,159
Explanation for adjustment
32
2020 Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd.
2) Explanation for retroactive adjustment in comparable data in prior report period owing to
the implementation of new Revenue Standards and new Lease Standards since 2020
Available Not available
During the report period, the Company implemented the new Revenue Standards and retroactively
adjusted the previous comparative data according to the Standards,resulting in a decrease of CNY
131,429,639 in the advance receipts at the beginning of the period, an increase of CNY 116,309,415
in the contract liabilities and an increase of CNY 15,120,224 in other current liabilities.
3. Audit report
Whether the third quarter report has been audited.
Yes No
The third quarter report has not been audited.
Yantai Changyu Pioneer Wine Co., Ltd.
Board of Directors
October24th, 2020
33
