Yantai Changyu Pioneer Wine Co., Ltd. 2021 Third Quarter Report
Stock Code: 000869, 200869 Stock Abbreviation: Changyu A, Changyu B Announcement No.:2021-020
Yantai Changyu Pioneer Wine Co., Ltd.
2021 Third Quarter Report
This company and all board members guarantee the truthfulness, accuracy and completeness of
disclosed contents as well as no unfaithful facts, misleading statements or significant omissions.
Important Notice
1. 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.
2. The person in charge of the Company, the person in charge of accounting work and the person in
charge of accounting institution (person in charge of accounting) declare to assure the truthfulness,
accuracy and completeness of the financial information in this quarter report.
3. Whether the Third Quarter Report has been audited
Yes No
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Yantai Changyu Pioneer Wine Co., Ltd. 2021 Third Quarter Report
1. Major Financial Data
1) Key accounting data and financial indicators
Whether the Company needs to make retroactive adjustments or restate the accounting data of previous fiscal years.
Yes No
From the beginning of the
More or less than the same More or less than the same
This report period year to the end of this
period of last year (%) period of last year (%)
report period
Operating revenue (CNY) 796,762,047 2.92% 2,671,222,485 21.82%
Net profit attributed to the shareholders
79,742,460 -6.32% 451,564,279 11.84%
of the listed company (CNY)
Net profit attributed to the shareholders
of the listed company after deducting 67,549,124 -7.98% 421,225,167 23.83%
the irregular profit and loss (CNY)
Net cash flows from the operating
—— —— 792,193,127 213.82%
activities (CNY)
Basic earnings per share (CNY) 0.12 0% 0.66 11.86%
Diluted earnings per share (CNY) 0.12 0% 0.66 11.86%
Weighted average for earning rate of
0.76% -0.16% 4.33% 0.48%
the net assets
The end of this report
The end of last year More or less than the end of last year (%)
period
Total assets (CNY) 13,336,405,794 13,102,481,541 1.79%
Net Assets attributed to the
shareholders of the listed company 10,417,438,031 10,267,832,644 1.46%
(CNY)
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Yantai Changyu Pioneer Wine Co., Ltd. 2021 Third Quarter Report
2) Item and amount of non-recurring profit and loss
Available Not available
Unit：CNY
From the beginning of the year to
Item Amount in this report period Explanation
the end of report period
Government grants credited in profit and loss (except for those
continuously-enjoyed normed or quantitative government grants that
14,225,961 36,204,656
are closely related to the entity’s normal operation, in line with
national policy and regulation and based on certain criteria)
The cost of investment for entity to acquire subsidiary corporation,
joint-run business and joint venture is less than the income resulting
from the fair value of enjoyed net assets that can be recognized by the
invested entity when acquiring investment
Other non-operating income and expenses 1,465,519 3,384,575
Less: Income tax effect 3,298,567 9,035,909
Minority interests effect (after-tax) 199,577 214,210
Total 12,193,336 30,339,112 --
Details of other profit and loss items in line with the identification of non-recurring profit and loss
Available Not available
There don’t exist details of other profit and loss items in line with the identification of non-recurring profit and loss
Explanation for situation that non-recurring profit and loss items are defined as recurrent profit and loss items in accordance with 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 items are defined as recurrent profit and loss items in accordance with the Explanatory
Announcement on Public Company’s Information Disclosure No.1 - Non-recurring Profit and Loss.
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Yantai Changyu Pioneer Wine Co., Ltd. 2021 Third Quarter Report
3) Situation and reason for the change in key accounting data and financial indicators
Available Not available
From the beginning of the year to the end of this report period, compared with the same period of
last year, this company’s operating income increased by 21.82%, mainly owing to the increase in
the sales volume caused by the constructive market exploitation; sales expenses increased by
38.70%, mainly due to the increased marketing investment; other income decreased by 45.52%,
mainly due to the decline in government subsidies; cash paid for the purchase and construction of
fixed assets, intangible assets and other long-term assets increased by 57.36%, mainly due to the
increase in cash paid for the purchase and construction of fixed assets; the net cash flows from the
operating activities increased by 213.82%, mainly owing to the increase in the cash received from
selling products and rendering service that results from the year-on-year increased operating
income.
Comparing with it at the beginning of the report period, the prepayment decreased by 56.73% at the
end of the reporting period, mainly due to the decrease in the purchase of raw materials paid in
advance to suppliers.
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Yantai Changyu Pioneer Wine Co., Ltd. 2021 Third Quarter Report
2. Information of shareholders
1) The number of the common shareholders and preferred shareholders with recovered voting power as well as the shareholding of t op
10 shareholders
Unit:share
Total number of common shareholders at the end Total number of preferred shareholders with recovered
54,164 0
of report period voting power at the end of report period (if have)
Shareholding of top 10 shareholders
Character of Percentage Number of Pledged or frozen
Name of Shareholders Shares held
shareholders (%) restricted shares Share status Amount
Domestic
YANTAI CHANGYU GROUP COMPANY
non-state-owned 50.40% 345,473,856 0 — 0
LIMITED
legal person
GAOLING FUND, L.P. Foreign legal person 3.08% 21,090,219 0 — 0
BBH BOS S/A FIDELITY FD - CHINA Foreign legal person
1.42% 9,719,826 0 — 0
FOCUS FD
SHENWAN HONGYUAN SECURITIES Foreign legal person
1.08% 7,414,152 0 — 0
(HONGKONG) LIMITED
State-owned legal
CHINA SECURITIES FINANCE CORP 0.94% 6,446,263 0 — 0
person
FIDELITY PURITAN TRUST: FIDELITY Foreign legal person
SERIES INTRINSIC OPPORTUNITIES 0.93% 6,350,762 0 — 0
FUND
GUOTAI JUNAN SECURITIES Foreign legal person
0.77% 5,278,928 0 — 0
(HONGKONG) LIMITED
Haitong International Securities Company Foreign legal person
0.74% 5,077,402 0 — 0
Limited-Account Client
China Merchants Securities (HK) Co., Ltd. Foreign legal person 0.71% 4,882,997 0 — 0
VANGUARD EMERGING MARKETS Foreign legal person
0.60% 4,126,142 0 — 0
STOCK INDEX FUND
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Yantai Changyu Pioneer Wine Co., Ltd. 2021 Third Quarter Report
Shareholding of top 10 shareholders with unrestricted shares
Type of share
Name of Shareholders Number of unrestricted shares held
Type of share Amount
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
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 9,719,826 B share 9,719,826
SHENWAN HONGYUAN SECURITIES (HONGKONG) LIMITED 7,414,152 B share 7,414,152
CHINA SECURITIES FINANCE CORP 6,446,263 A share 6,446,263
FIDELITY PURITAN TRUST: FIDELITY SERIES INTRINSIC
6,350,762 B share 6,350,762
OPPORTUNITIES FUND
GUOTAI JUNAN SECURITIES (HONGKONG) LIMITED 5,278,928 B share 5,278,928
Haitong International Securities Company Limited-Account Client 5,077,402 B share 5,077,402
China Merchants Securities (HK) Co., Ltd. 4,882,997 B share 4,882,997
VANGUARD EMERGING MARKETS STOCK INDEX FUND 4,126,142 B share 4,126,142
Among the top 10 shareholders, Yantai Changyu Group Company Limited has no
The explanation for the associated relationship and accordant
associated relationship or accordant action relationship with the other 9 listed
action of the top 10 shareholders
shareholders, and the relationship among the other shareholders is unknown.
Explanation for the top 10 common shareholders who involved in The top 10 shareholders did not involve in financing activities and stock trading
financing activities and stock trading business(if any) business
2) The table of the total number of the preferred shareholders and the shareholding status of the top 10 preferred shareholders
Available Not available
3. Other Important Issues
Available Not available
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
4. Quarterly Financial Statements
1）Financial statements
① Consolidated balance sheet
Yantai Changyu Pioneer Wine Co., Ltd.
Unit: CNY
th
Item September 30 , 2021 December 31st, 2020
Current Assets：
Monetary fund 1,473,211,443 1,194,214,929
Petty cash
Lending funds
Transactional financial assets
Derivative financial assets
Notes receivable
Accounts receivable 179,473,228 183,853,362
Receivables Financing 269,846,535 338,090,187
Accounts prepaid 30,851,843 71,296,416
Premiums receivable
Reinsurance accounts receivable
Receivable reserves for reinsurance contract
Other receivables 24,440,849 22,428,956
Including: Interest receivable
Dividends receivable
Buying back the sale of financial assets
Inventory 2,953,856,837 2,945,548,651
Contract assets
Assets classified as holding for sale
Non-current assets expire in one year
Other current assets 235,859,294 234,118,715
Total Current Assets 5,167,540,029 4,989,551,216
Non-current Assets：
Offering loans and imprest
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 47,425,914 48,263,507
Investment in other equity instrument
Other non-current financial assets
Real estate for investment 24,676,846 27,057,730
Fixed assets 5,625,782,578 5,724,935,846
Construction in progress 690,139,743 635,495,152
Biological assets for production 191,808,066 192,173,536
Oil and gas assets
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
Right-of-use assets 106,972,930
Intangible assets 649,894,615 660,989,065
Development expenditure
Goodwill 132,938,212 132,938,212
Long-term deferred expenses 326,582,353 314,465,855
Deferred tax assets 218,198,926 206,241,275
Other non-current assets 154,445,582 170,370,147
Total Non-Current Assets 8,168,865,765 8,112,930,325
Total Assets 13,336,405,794 13,102,481,541
Current liabilities：
Short-term loan 709,833,200 689,090,715
Borrowings from the Central Bank
Borrowing funds
Transactional financial liability
Derivative financial liabilities
Notes payable
Accounts payable 444,994,465 484,347,958
Advances from customers
Contract liabilities 161,349,053 135,073,280
Sales/buyback financial assets
Customer and interbank deposits
Acting trading securities
Acting underwriting securities
Wage payable 152,906,801 188,779,911
Tax payable 236,591,579 213,412,813
Other accounts payable 412,969,457 386,105,526
Including: Interest payable 1,201,497 553,471
Dividend payable 404,542 1,003,125
Payable handling fees and commission
Dividend payable for reinsurance
Liabilities classified as holding for sale
Non-current liabilities expire in one year 124,003,713 133,311,890
Other current liabilities 20,975,376 14,820,653
Total Current Liabilities 2,263,623,644 2,244,942,746
Non-Current Liabilities:
Insurance contract reserve
Long-term borrowings 189,971,429 200,352,968
Bonds payable
Including: Preferred Stock
Perpetual capital securities
Lease liability 108,166,478
Long-term accounts payable 64,000,000 86,000,000
Long-term accrued payroll
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
Estimated liabilities
Deferred income 42,124,052 52,653,609
Deferred tax liabilities 11,679,645 12,022,613
Other non-current liabilities 2,078,972 2,078,971
Total non-current liabilities 418,020,576 353,108,161
Total liabilities 2,681,644,220 2,598,050,907
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 524,968,760 524,968,760
Minus: treasury stock
Other comprehensive income -16,564,741 576,129
Special reserves
Surplus reserve 342,732,000 342,732,000
General risk preparation
Undistributed profits 8,880,838,012 8,714,091,755
Total owner's equity attributable to the holding
10,417,438,031 10,267,832,644
company
Minority interests 237,323,543 236,597,990
Total owner's equity 10,654,761,574 10,504,430,634
Total liabilities and owner's equity 13,336,405,794 13,102,481,541
Legal representative: Zhou Hongjiang; Person in charge of accounting : Jiang Jianxun;
Person in charge of accounting organ: Guo Cuimei
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
② 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 2,671,222,485 2,192,739,690
Including: Operating income 2,671,222,485 2,192,739,690
Interest income
Earned premium
Handling fees and commission income
2. Total operating costs 2,079,791,757 1,717,091,047
Including: Operating costs 1,116,643,740 950,246,786
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 159,145,623 136,365,030
Selling expenses 584,801,218 421,620,422
Administrative expenses 201,906,440 190,953,700
Research and development expenditure 3,723,499 2,675,257
Financial expenses 13,571,237 15,229,852
Including: Interest expenses 21,606,786 25,065,852
Interest income 13,246,594 9,907,307
Plus:Other income 36,204,656 66,451,990
Investment profit (loss is listed with "-") -1,840,676 -1,256,105
Including: Investment profit for joint-run business and
-1,840,676 -1,256,105
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 "-") -9,174,028 3,125,029
Loss for impairment of assets(loss is listed with "-") 2,296,193 5,083,785
Assets disposal income (loss is listed with "-") -1,139,783
3. Operating profit (loss is listed with "-") 618,916,873 547,913,559
Plus: Non-operating income 5,043,079 7,619,514
Minus: Non-operating expenditure 1,658,504 1,073,199
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
4. Total profits (total loss is listed with "-") 622,301,448 554,459,874
Minus: Income taxes 173,193,630 147,252,351
5. Net profit (net loss is listed with "-") 449,107,818 407,207,523
（一）Classification by continuous operation
1.Net profit from continuous operation(net loss is listed with "-") 449,107,818 407,207,523
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 451,564,279 403,760,926
2. Minority interests -2,456,461 3,446,597
6. Net value of other comprehensive income after tax -19,534,801 -2,290,461
6.1 Net value of other comprehensive income after tax of holding
-17,140,870 -2,631,948
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 classified into the
-17,140,870 -2,631,948
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
-17,140,870 -2,631,948
currency financial statements
6.1.2.7 Other
6.2 Net value of other comprehensive income after tax of minority
-2,393,931 341,487
shareholders
7.Total comprehensive Income 429,573,017 404,917,062
Total comprehensive income of holding company 434,423,409 401,128,978
Total comprehensive income of minority shareholders -4,850,392 3,788,084
8. Earnings per share
8.1 Basic earnings per share 0.66 0.59
8.2 Diluted earnings per share 0.66 0.59
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
During this report period, the issue relates to company consolidation under common control,
consolidated party completes net profit amount of CNY0 before being consolidated, and
consolidated party completes net profit amount of CNY0 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
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
③ 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
2,812,156,999 2,310,331,855
services
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
Cash received from collecting interest, handling
fees and commission
Net increase in borrowings
Net increase in repurchasement business funds
Net cash received from securities trading agency
Tax refund received 35,554,848 33,733,604
Other cash received related to operating activities 89,165,735 69,259,710
Sub-total of cash inflows of operating activities 2,936,877,582 2,413,325,169
Cash paid for goods and services 826,697,935 855,818,928
Net increase in customer loans and advances
Net increase in deposits in central bank and
interbank deposits
Cash paid to original insurance contract payments
Net increase in lending funds
Cash paid to interest, handling fees and
commission
Cash paid to policy bonus
Cash paid to and on behalf of employees 347,266,653 325,519,463
Cash paid for taxes and expenses 564,651,786 605,846,671
Other cash paid related to operating activities 406,068,081 373,703,033
Sub-total of cash outflows of operating activities 2,144,684,455 2,160,888,095
Net cash flow from operating activities 792,193,127 252,437,074
2. Cash flow from investing activities:
Cash received from return of investment 63,553,063 80,128,600
Cash received from obtaining investment profit 1,266,049 1,484,244
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
Cash received from disposal of fixed assets,
13,331 1,139,360
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 64,832,443 82,752,204
Cash paid to acquire fixed assets, intangible asset
157,862,603 100,318,579
and other long-term assets
Cash for investments 44,218,000 58,200,000
Net increase in hypothecated loan
Net cash paid to acquire branch and other
business unit
Other cash paid related to investment activities
Subtotal of cash outflows of investment activities 202,080,603 158,518,579
Net cash flow from investing activities -137,248,160 -75,766,375
3. Cash flow from financing activities
Cash received from acquiring investment 7,840,000
Cash received from acquiring minority
7,840,000
shareholders' investment by branch
Cash received from acquiring loans 652,239,164 784,217,057
Other cash received related to financing activities 21,654,861
Sub-total cash inflows of financing activities 681,734,025 784,217,057
Cash paid to repay debts 678,372,588 775,223,291
Cash paid to distribute dividend, profit or pay
295,219,066 514,217,826
interest
Dividend and profit paid to minority
1,872,818 2,932,523
shareholders by branch
Other cash paid related to financing activities 7,645,295 44,025,637
Sub-total of cash outflows of financing activities 981,236,949 1,333,466,754
Net cash flow from financing activities -299,502,924 -549,249,697
4. Influences of exchange rate fluctuation on cash and
698,524 -301,828
cash equivalents
5. Net Increase of cash and cash equivalents 356,140,567 -372,880,826
Plus: balance at the beginning of the period of
1,052,665,105 1,397,399,469
cash and cash equivalents
6. Balance at the end of the period of cash and cash
1,408,805,672 1,024,518,643
equivalents
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
2）Explanation for adjustment in financial statements
① The situation of adjusting related items of the financial statements at the beginning of the
year when it was first imple mented owing to the first imple mentation of new Lease Standards
since 2021.
Available Not available
Whether needs to adjust the balance sheet account at the beginning of the year
Yes No
Consolidated balance sheet
Unit: CNY
Adjusted
Item December 31st, 2020 January 1st, 2021
amount
Current Assets：
Monetary fund 1,194,214,929 1,194,214,929
Petty cash
Lending funds
Transactional financial assets
Derivative financial assets
Notes receivable
Accounts receivable 183,853,362 183,853,362
Receivables Financing 338,090,187 338,090,187
Accounts prepaid 71,296,416 71,296,416
Premiums receivable
Reinsurance accounts receivable
Receivable reserves for reinsurance contract
Other receivables 22,428,956 22,428,956
Including: Interest receivable
Dividends receivable
Buying back the sale of financial assets
Inventory 2,945,548,651 2,945,548,651
Contract assets
Assets classified as holding for sale
Non-current assets expire in one year
Other current assets 234,118,715 234,118,715
Total Current Assets 4,989,551,216 4,989,551,216
Non-current Assets：
Offering loans and imprest
Debt investment
Other debt investment
Long-term account receivable
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
Long-term equity investment 48,263,507 48,263,507
Investment in other equity instrument
Other non-current financial assets
Real estate for investment 27,057,730 27,057,730
Fixed assets 5,724,935,846 5,724,935,846
Construction in progress 635,495,152 635,495,152
Biological assets for production 192,173,536 192,173,536
Oil and gas assets
Right-of-use assets 104,654,936 104,654,936
Intangible assets 660,989,065 660,989,065
Development expenditure
Goodwill 132,938,212 132,938,212
Long-term deferred expenses 314,465,855 306,090,617 -8,375,238
Deferred tax assets 206,241,275 207,199,400 958,125
Other non-current assets 170,370,147 170,370,147
Total Non-Current Assets 8,112,930,325 8,210,168,148 97,237,823
Total Assets 13,102,481,541 13,199,719,364 97,237,823
Current liabilities：
Short-term loan 689,090,715 689,090,715
Borrowings from the Central Bank
Borrowing funds
Transactional financial liability
Derivative financial liabilities
Notes payable
Accounts payable 484,347,958 479,305,382 -5,042,576
Advances from customers
Contract liabilities 135,073,280 135,073,280
Sales/buyback financial assets
Customer and interbank deposits
Acting trading securities
Acting underwriting securities
Wage payable 188,779,911 188,779,911
Tax payable 213,412,813 213,412,813
Other accounts payable 386,105,526 386,105,526
Including: Interest payable 553,471 553,471
Dividend payable 1,003,125 1,003,125
Payable handling fees and commission
Dividend payable for reinsurance
Liabilities classified as holding for sale
Non-current liabilities expire in one year 133,311,890 141,497,136 8,185,246
Other current liabilities 14,820,653 14,820,653
Total Current Liabilities 2,244,942,746 2,248,085,416 3,142,670
Non-Current Liabilities:
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
Insurance contract reserve
Long-term borrowings 200,352,968 200,352,968
Bonds payable
Including: Preferred Stock
Perpetual capital securities
Lease liability 104,489,294 104,489,294
Long-term accounts payable 86,000,000 86,000,000
Long-term accrued payroll
Estimated liabilities
Deferred income 52,653,609 52,653,609
Deferred tax liabilities 12,022,613 12,260,894 238,281
Other non-current liabilities 2,078,971 2,078,971
Total non-current liabilities 353,108,161 457,835,736 104,727,575
Total liabilities 2,598,050,907 2,705,921,152 107,870,245
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 524,968,760 524,968,760
Minus: treasury stock
Other comprehensive income 576,129 576,129
Special reserves
Surplus reserve 342,732,000 342,732,000
General risk preparation
Undistributed profits 8,714,091,755 8,703,459,333 -10,632,422
Total owner's equity attributable to the
10,267,832,644 10,257,200,222 -10,632,422
holding company
Minority interests 236,597,990 236,597,990
Total owner's equity 10,504,430,634 10,493,798,212 -10,632,422
Total liabilities and owner's equity 13,102,481,541 13,199,719,364 97,237,823
Explanation for adjustment
The Company implemented the new Lease Standards from January 1 st, 2021. According to the new
Lease Standard, for the contract that existed before the first implementation date, the Company
chose not to reassess whether it is a lease or whether it includes a lease on the first implementation
date. For the lease contract with the Company as lessee, the Company chose to adj ust only the
cumulative impact amount of the lease contract that has not yet been completed on January 1 st, 2021.
The amount of cumulative impact of the first implementation adjusted to the amount of related
items in the financial statements on January 1 st, 2021, the comparable period information will not be
adjusted.
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2021 Third Quarter Report of Yantai Changyu P ioneer Wine Co., Ltd.
② Explanation for retroactive adjustment in comparable data in prior report period owing to
the implementation of new Lease Standards since 2021
Available Not available
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
October 28th, 2021
18
