Q1 Report of 2024
Stock Code: 600132 Stock Abbreviation: Chongqing Brewery
CHONGQING BREWERY CO., LTD.
Q1 REPORT OF 2024
The board of directors and all directors of the company guarantee that this
announcement is free of any false records, misleading statements or significant
omissions, and that they will bear legal responsibility for the authenticity, accuracy
and completeness of its content.
Reminder of important content:
The board of directors, board of supervisors, directors, supervisors and senior management of the
company guarantee that this quarterly report contains true, accurate and complete information and
is free of any false records, misleading statements or significant omissions, and that they will be
jointly and severally liable for the legal consequences.
The legal representative of the company, officer in charge of accounting and head of accounting
department (the chief accountant) guarantee that the financial information in the quarterly report is
true, accurate and complete.
Whether the Q1 financial statements are audited
□Yes √No
1 / 17
Q1 Report of 2024
I. Key Financial Information
(I) Major accounting data and financial indicators
Monetary unit: RMB
For the quarter ended
Item March 31, 2024 Rate of change (%)
(“the reporting period”)
Operating revenue 4,292,542,727.03 7.16
Net profit attributable to shareholders
451,938,986.11 16.78
of the Company
Net profit attributable to
shareholders of the Company
445,935,567.05 16.91
excluding non-recurring gains and
losses
Net cash flows from operating
1,080,755,377.22 26.76
activities
Basic earnings per share 0.93 16.78
Diluted earnings per share 0.93 16.78
Weighted average return on equity (%) 19.10 Increased by 1.90 p.p.
Rate of
As of March 31, 2024 As of December 31, 2023
change (%)
Total assets 13,032,283,189.31 12,386,911,593.95 5.21
Net assets attributable
to shareholders of the 2,592,041,432.60 2,140,200,619.57 21.11
Company
2 / 17
Q1 Report of 2024
(II) Non-recurring gains and losses
√ Applicable □ Not applicable
Monetary unit: RMB
Items For the quarter ended March 31, 2024 Remarks
Gains or losses on disposal of non- -773,609.11
current assets, including write-off of
provision for impairment
Government grants included in gains 10,677,872.49
or losses (excluding those closely
related to operating activities of the
Company, satisfying government
policies and regulations, enjoyed based
on certain standards, and continuously
affecting gains or losses of the
Company)
Gains or losses on changes in fair 3,702,877.36
value of held-for-trading financial
assets, derivative financial assets, held-
for-trading financial liabilities and
derivative financial liabilities, and
investment income from disposal of
held-for-trading financial assets,
derivative financial assets, held-for-
trading financial liabilities, derivative
financial liabilities and other debt
investments, excluding those arising
from hedging business related to
operating activities
Other non-operating revenue or 1,540,982.50
expenditures
Less: Enterprise income tax affected 3,345,783.19
Effect on non-controlling interest 5,798,920.99
(after tax)
Total 6,003,419.06
Note: Effect on non-recurring gains or losses for the quarter ended March 31, 2023 due to
implementation of “Interpretation Pronouncement on Information Disclosure Criteria for Public
Companies No. 1 – Non-Recurring Gains or Losses (2023 Edition)”
Items Amount
Net non-recurring gains or losses attributable to the owner of the
5,578,384.97
parent company for the quarter ended March 31, 2023
Net non-recurring gains or losses attributable to the owner of the
parent company calculated based on the “Interpretation 4,769,948.68
Pronouncement on Information Disclosure Criteria for Public
3 / 17
Q1 Report of 2024
Companies No. 1 – Non-Recurring Gains or Losses (2023
Edition)” for the quarter ended March 31, 2023
Difference 808,436.29
Explain the reasons if the Company classifies an item as a recurring gain/loss item, which is
enumerated as a non-recurring gain/loss in the “Explanatory Announcement No. 1 on Information
Disclosure for Companies Offering Their Securities to the Public—Non-Recurring Gains and
Losses”:
□ Applicable √ Not applicable
(III) The conditions and reason of change for major accounting data and financial indicators
□ Applicable √ Not applicable
II. Main Operating Conditions During the Reporting Period
(I) Main operating conditions
For the quarter ended March 31, 2024, the Company sold 0.8668 million kiloliters of beer, an
increase of 5.25% compared with 0.8236 million kiloliters over the same period of last year. The
operating revenue was RMB4.293 billion yuan, an increase of 7.16% compared with RMB4.006
billion yuan over the same period of last year. Net profit attributable to shareholders of the Company
for the first quarter of 2024 amounted to RMB0.452 billion yuan, an increase of 16.78% compared
with RMB0.387 billion yuan over the same period of last year. Net profit attributable to shareholders
of the Company excluding non-recurring profit or loss amounted to RMB0.446 billion yuan, an
increase of 16.91% compared with RMB0.381 billion yuan over the same period of last year.
(II) Revenue by product grade
Monetary unit: RMB
For the quarter ended For the quarter ended
Proportion
Product grade March 31, 2024 March 31, 2023 YoY (%)
(%)
Main business revenue Main business revenue
Premium 2,571,724,307.81 2,375,111,079.58 8.28 61.56
Mainstream 1,520,025,140.42 1,467,699,634.28 3.57 36.38
Economy 86,077,755.11 76,590,127.63 12.39 2.06
Total 4,177,827,203.34 3,919,400,841.49 6.59 100
Note:
1. The Company classifies its products into three grades based on consumption price, i.e, premium
(priced at RMB 8 yuan and above), mainstream (priced between RMB 4-8 yuan, excluding 8
yuan), and economy (priced below RMB 4 yuan).
2. During the reporting period, the sales volume of economy beer increased by 1.69%,
corresponding to a revenue increase of 12.39%.
(III) Revenue by marketing channel
4 / 17
Q1 Report of 2024
Monetary unit: RMB
Channel type For the quarter ended For the quarter ended YoY (%)
March 31, 2024 March 31, 2023
Main business revenue Main business revenue
Wholesale 4,170,312,573.17 3,910,238,281.65 6.65
(IV) Revenue by region
Monetary unit: RMB
Region For the quarter ended For the quarter ended YoY (%)
March 31, 2024 March 31, 2023
Main business revenue Main business revenue
North-West 1,159,973,539.97 1,123,709,182.58 3.23
Central 1,808,706,339.07 1,689,603,165.52 7.05
South 1,209,147,324.30 1,106,088,493.39 9.32
Total 4,177,827,203.34 3,919,400,841.49 6.59
Note: The administration area of the company is divided into three regions: North-West region,
Central region and Southern region.
(V) Dealers
For the quarter ended March 31, 2024, the company added 199 dealers and reduced 299 dealers,
with a total of 2,969 dealers at the end of the reporting period and a decrease of 100 compared to
December 31, 2023.
III. Shareholders
(I) Total number of ordinary shareholders, number of preferred shareholders with resumed
voting power and shareholding of top 10 shareholders
Unit: share
Total number of preferred
Total number of ordinary
shareholders with resumed voting
shareholders at the end of 56,669 N/A
power at the end of the reporting
the reporting period
period (if any)
Shareholdings of top 10 shareholders (excluding refinancing shares lent)
Pledge, marking
Number of
Nature of Number of Shareholding or freezing
Name of shareholder restricted
shareholder shares held (%) Share
shares held Amount
status
Carlsberg Brewery Hong Overseas
205,882,718 42.54 0 None
Kong Limited legal person
Carlsberg Chongqing Overseas
84,500,000 17.46 0 None
Limited legal person
Hong Kong Securities Overseas 28,908,106 5.97 0 Unknown
Clearing Co., Ltd. legal person
5 / 17
Q1 Report of 2024
One-one-zero portfolio of
National Social Security Others 2,692,138 0.56 0 Unknown
Fund
China Life Insurance
Company Limited -
Traditional-General Others 2,543,606 0.53 0 Unknown
Insurance Product－
005L－CT001 Shanghai
China Construction Bank
Corporation - PENGHUA Others 2,537,652 0.52 0 Unknown
CSI LIQUOR ETF
Industrial and
Commercial Bank of
Others 2,477,213 0.51 0 Unknown
China Limited - Huatai-
PineBridge CSI 300 ETF
New China Life
Insurance Company Ltd.
- Traditional-General Others 2,277,351 0.47 0 Unknown
Insurance Product－
018L－CT001 Shanghai
Bank of Korea - Self-
Others 2,056,500 0.42 0 Unknown
owned Fund
China Construction Bank
Corporation - E Fund CSI Others 1,800,000 0.37 0 Unknown
300 ETF
Shareholdings of top 10 unrestricted shareholders
Share category and
Number of outstanding unrestricted quantity
Name of shareholder
shares held Share Amount
category
RMB
Carlsberg Brewery Hong
205,882,718 ordinary 205,882,718
Kong Limited
shares
RMB
Carlsberg Chongqing
84,500,000 ordinary 84,500,000
Limited
shares
RMB
Hong Kong Securities
28,908,106 ordinary 28,908,106
Clearing Co., Ltd.
shares
One-one-zero portfolio of RMB
National Social Security 2,692,138 ordinary 2,692,138
Fund shares
6 / 17
Q1 Report of 2024
China Life Insurance
Company Limited - RMB
Traditional-General 2,543,606 ordinary 2,543,606
Insurance Product－ shares
005L－CT001 Shanghai
China Construction Bank RMB
Corporation - PENGHUA 2,537,652 ordinary 2,537,652
CSI LIQUOR ETF shares
Industrial and
RMB
Commercial Bank of
2,477,213 ordinary 2,477,213
China Limited - Huatai-
shares
PineBridge CSI 300 ETF
New China Life
Insurance Company Ltd. RMB
- Traditional-General 2,277,351 ordinary 2,277,351
Insurance Product－ shares
018L－CT001 Shanghai
RMB
Bank of Korea - Self-
2,056,500ordinary 2,056,500
owned Fund
shares
China Construction Bank RMB
Corporation - E Fund CSI 1,800,000 ordinary 1,800,000
300 ETF shares
Remarks on related-party Among the top 10 unrestricted shareholders, Carlsberg Chongqing
relationships among the Limited and Carlsberg Brewery Hong Kong Limited are both controlled
aforesaid shareholders or by Carlsberg Breweries A/S. It is unknown whether the other
actions in concert shareholders are related to each other and whether the other shareholders
are acting in concert.
Refinancing shares lent by shareholders holding more than 5% shares, the top 10 shareholders and
the top 10 unrestricted public shareholders
√ Applicable □ Not applicable
Unit: share
Refinancing shares lent by shareholders holding more than 5% shares, the top 10 shareholders and the top 10
unrestricted public shareholders
Beginning shareholding Beginning refinancing Ending shareholding Ending refinancing
of ordinary accounts and shares lent and not yet of ordinary accounts shares lent and not
Name of shareholder
credit accounts returned and credit accounts yet returned
(full name)
Quantity Percentage Quantity Percentage Quantity Percentage Quantity Percentage
Total (%) Total (%) Total (%) Total (%)
China Construction
Bank Corporation -
2,957,302 0.61 621,400 0.13 2,537,652 0.52 490,700 0.10
PENGHUA CSI
LIQUOR ETF
Industrial and
1,678,213 0.35 33,400 0.01 2,477,213 0.51 2,200 0.001
Commercial Bank of
7 / 17
Q1 Report of 2024
China Limited - Huatai-
PineBridge CSI 300
ETF
China Construction
Bank Corporation - E 636,500 0.13 9,800 0.002 1,800,000 0.37 23,100 0.005
Fund CSI 300 ETF
Changes in the top 10 shareholders and the top 10 unrestricted public shareholders due to
refinancing lending/restitution compared with the previous period
√ Applicable □ Not applicable
Unit: share
Changes in the top 10 shareholders and the top 10 unrestricted public shareholders due to
refinancing lending/restitution compared with the previous period
Number of shares held by ordinary
Number of refinancing shares
New/exiting accounts/credit accounts and
Name of lent and not yet returned at
shareholder refinancing shares lent and not yet
shareholder the end of the period
during the returned at the end of the period
(full name)
period Percentage Percentage
Aggregate Aggregate
(%) (%)
China
Construction
Bank
New 23,100 0.005 1,823,100 0.38
Corporation - E
Fund CSI 300
ETF
IV. Other Reminders
Other important information about the company’s operations during the reporting period that
investors should be reminded of.
□ Applicable √ Not applicable
8 / 17
Q1 Report of 2024
V. Quarterly Financial Statements
(I) Audit Opinion
□ Applicable √ Not applicable
(II) Financial Statements
Consolidated Balance Sheet
As of March 31, 2024
Prepared by: Chongqing Brewery Co., Ltd.
Monetary unit: RMB Audit type: Unaudited
Items March 31, 2024 December 31, 2023
Current assets:
Cash and bank balances 2,945,120,807.44 2,712,720,235.65
Settlement funds
Loans to other banks
Held-for-trading financial assets 901,642,500.00 360,202,000.00
Derivative financial assets 8,084,911.58 14,392,732.78
Notes receivable
Accounts receivable 105,297,741.70 64,628,136.06
Receivables financing
Advances paid 38,567,359.12 41,831,987.46
Premiums receivable
Reinsurance accounts receivable
Reinsurance reserve receivable
Other receivables 26,427,132.86 23,987,973.67
Including: Interest receivable
Dividend receivable
Financial assets under reverse repo
Inventories 1,790,897,384.57 2,100,354,952.29
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 113,406,979.20 146,488,217.09
Total current assets 5,929,444,816.47 5,464,606,235.00
Non-current assets:
Loans and advances
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 153,847,165.71 140,608,195.59
Other equity instrument investments 17,156,286.50 16,625,962.83
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Q1 Report of 2024
Items March 31, 2024 December 31, 2023
Other non-current financial assets
Investment property
Fixed assets 3,579,055,632.67 3,673,993,109.60
Construction in progress 1,152,431,743.67 783,503,734.86
Productive biological assets
Oil & gas assets
Right-of-use assets 148,726,917.00 153,497,044.09
Intangible assets 663,312,448.18 677,053,982.74
Including: Data resources
Development expenditures
Including: Data resources
Goodwill 699,192,456.06 699,192,456.06
Long-term prepayments
Deferred tax assets 687,152,449.61 679,012,008.03
Other non-current assets 1,963,273.44 98,818,865.15
Total non-current assets 7,102,838,372.84 6,922,305,358.95
Total assets 13,032,283,189.31 12,386,911,593.95
Current liabilities:
Short-term borrowings
Central bank loans
Loans from other banks
Held-for-trading financial liabilities
Derivative financial liabilities 15,759,347.35 15,408,026.80
Notes payable
Accounts payable 2,796,768,259.25 2,607,629,899.17
Advances received
Contract liabilities 1,677,390,760.57 1,666,791,670.83
Financial liabilities under repo
Absorbing deposit and interbank
deposit
Deposit for agency security
transaction
Deposit for agency security
underwriting
Employee benefits payable 390,544,456.21 409,937,660.39
Taxes and rates payable 377,941,631.51 86,479,764.60
Other payables 2,628,258,819.92 3,326,996,153.10
Including: Interest payable
Dividend payable
Handling fee and commission
payable
Reinsurance accounts payable
Liabilities held for sale
10 / 17
Q1 Report of 2024
Items March 31, 2024 December 31, 2023
Non-current liabilities due within
41,548,353.97 42,382,811.96
one year
Other current liabilities 14,369,907.85 26,113,341.32
Total current liabilities 7,942,581,536.63 8,181,739,328.17
Non-current liabilities:
Insurance policy reserve
Long-term borrowings
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 118,772,715.51 121,370,635.09
Long-term payables
Long-term employee benefits payable 149,436,720.63 150,981,389.59
Provisions 25,161,793.79 25,219,093.79
Deferred income 240,171,640.72 247,646,473.34
Deferred tax liabilities 7,480,882.91 7,806,126.04
Other non-current liabilities
Total non-current liabilities 541,023,753.56 553,023,717.85
Total liabilities 8,483,605,290.19 8,734,763,046.02
Equity:
Share capital 483,971,198.00 483,971,198.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 18,403,177.00 16,022,535.00
Less: Treasury shares
Other comprehensive income -18,564,257.28 -16,085,442.20
Special reserve
Surplus reserve 241,985,599.00 241,985,599.00
General risk reserve
Undistributed profit 1,866,245,715.88 1,414,306,729.77
Total equity attributable to the
2,592,041,432.60 2,140,200,619.57
parent company
Non-controlling interest 1,956,636,466.52 1,511,947,928.36
Total equity 4,548,677,899.12 3,652,148,547.93
Total liabilities & equity 13,032,283,189.31 12,386,911,593.95
Legal representative: Joo Miguel Ventura Rego Abecasis
Officer in charge of accounting: Chin Wee Hua
Head of accounting department: Liping Liu
11 / 17
Q1 Report of 2024
Consolidated Income Statement
For the Quarter Ended March 31, 2024
Prepared by: Chongqing Brewery Co., Ltd.
Monetary unit: RMB Audit type: Unaudited
For the quarter ended For the quarter ended
Items
March 31, 2024 March 31, 2023
I. Total operating revenue 4,292,542,727.03 4,005,811,752.65
Including: Operating revenue 4,292,542,727.03 4,005,811,752.65
Interest income
Premiums earned
Revenue from handling charges
and commission
II. Total operating cost 3,198,693,094.03 3,077,537,348.79
Including: Operating cost 2,236,546,768.40 2,196,941,245.54
Interest expenses
Handling charges and commission
expenditures
Surrender value
Net payment of insurance claims
Net provision of insurance policy
reserve
Premium bonus expenditures
Reinsurance expenses
Taxes and surcharges 267,727,272.93 249,505,309.99
Selling expenses 563,572,398.53 518,695,636.80
Administrative expenses 134,406,900.84 124,532,751.47
R&D expenses 4,702,443.79 1,410,077.93
Financial expenses -8,262,690.46 -13,547,672.94
Including: Interest expenses 1,841,440.12 1,176,188.15
Interest income 11,320,886.70 15,718,979.95
Add: Other income 12,321,234.89 13,834,104.44
Investment income (or less: losses) 15,097,347.48 12,134,773.12
Including: Investment income from
13,238,970.12 12,134,773.12
associates and joint ventures
Gains from derecognition of
financial assets at amortized cost
Gains on foreign exchange (or less:
losses)
Gains on net exposure to hedging
risk (or less: losses)
Gains on changes in fair value (or
1,642,500.00
less: losses)
Credit impairment loss -2,629,954.53 -654,041.53
Assets impairment loss -14,628,345.68 -3,945,698.26
12 / 17
Q1 Report of 2024
For the quarter ended For the quarter ended
Items
March 31, 2024 March 31, 2023
Gains on asset disposal (or less:
10,480.26 -131,838.64
losses)
III. Operating profit (or less: losses) 1,105,662,895.42 949,511,702.99
Add: Non-operating revenue 1,592,794.49 409,955.74
Less: Non-operating expenditures 835,901.36 454,704.77
IV. Profit before tax (or less: total loss) 1,106,419,788.55 949,466,953.96
Less: Income tax expenses 207,461,226.09 174,706,948.06
V. Net profit (or less: net loss) 898,958,562.46 774,760,005.90
(I) Categorized by the continuity of operations
1. Net profit from continuing
898,959,658.91 774,752,253.19
operations (or less: net loss)
2. Net profit from discontinued
-1,096.45 7,752.71
operations (or less: net loss)
(II) Categorized by the portion of equity ownership
1. Net profit attributable to owners
451,938,986.11 387,009,759.80
of parent company (or less: net loss)
2. Net profit attributable to non-
controlling shareholders (or less: 447,019,576.35 387,750,246.10
net loss)
VI. Other comprehensive income after
-4,809,853.27 1,111,468.35
tax
(I) Items attributable to the owners of
-2,478,815.08 578,737.83
the parent company
1.Not to be reclassified subsequently to
204,519.32 492,505.48
profit or loss
(1) Remeasurements of the net
defined benefit plan
(2) Items under equity method that
will not be reclassified to profit or
loss
(3) Changes in fair value of other
204,519.32 492,505.48
equity instrument investments
(4) Changes in fair value of own
credit risk
2. To be reclassified subsequently to
-2,683,334.40 86,232.35
profit or loss
(1) Items under equity method that
may be reclassified to profit or loss
(2) Changes in fair value of other
debt investments
(3) Profit or loss from
reclassification of financial assets
into other comprehensive income
13 / 17
Q1 Report of 2024
For the quarter ended For the quarter ended
Items
March 31, 2024 March 31, 2023
(4) Provision for credit impairment
of other debt investments
(5) Cash flow hedging reserve -2,683,334.40 86,232.35
(6) Translation reserve
(7) Others
(II) Items attributable to non-
-2,331,038.19 532,730.52
controlling shareholders
VII. Total comprehensive income 894,148,709.19 775,871,474.25
(I) Items attributable to the owners
449,460,171.03 387,588,497.63
of the parent company
(II) Items attributable to non-
444,688,538.16 388,282,976.62
controlling shareholders
VIII. Earnings per share (EPS):
(I) Basic EPS (yuan per share) 0.93 0.80
(II) Diluted EPS (yuan per share) 0.93 0.80
Legal representative: Joo Miguel Ventura Rego Abecasis
Officer in charge of accounting: Chin Wee Hua
Head of accounting department: Liping Liu
14 / 17
Q1 Report of 2024
Consolidated Cash Flow Statement
For the Quarter Ended March 31, 2024
Prepared by: Chongqing Brewery Co., Ltd.
Monetary unit: RMB Audit type: Unaudited
For the quarter ended For the quarter ended
Items
March 31, 2024 March 31, 2023
I. Cash flows from operating activities:
Cash receipts from sale of goods or
4,036,443,604.33 3,741,118,313.07
rendering of services
Net increase of client deposit and
interbank deposit
Net increase of central bank loans
Net increase of loans from other
financial institutions
Cash receipts from original insurance
contract premium
Net cash receipts from reinsurance
Net increase of policy-holder deposit
and investment
Cash receipts from interest, handling
charges and commission
Net increase of loans from others
Net increase of repurchase
Net cash receipts from agency
security transaction
Receipts of tax refund 295,858.98 2,578,768.78
Other cash receipts related to
89,336,607.02 80,114,182.44
operating activities
Subtotal of cash inflows from
4,126,076,070.33 3,823,811,264.29
operating activities
Cash payments for goods purchased
1,719,015,477.68 1,688,785,272.72
and services received
Net increase of loans and advances to
clients
Net increase of central bank deposit
and interbank deposit
Cash payments for insurance
indemnities of original insurance
contracts
Net increase of loans to others
Cash payments for interest, handling
charges and commission
Cash payments for policy bonus
15 / 17
Q1 Report of 2024
For the quarter ended For the quarter ended
Items
March 31, 2024 March 31, 2023
Cash paid to and on behalf of
395,415,111.20 355,179,827.32
employees
Cash payments for taxes and rates 467,174,303.78 536,000,992.83
Other cash payments related to
463,715,800.45 391,236,006.72
operating activities
Subtotal of cash outflows from
3,045,320,693.11 2,971,202,099.59
operating activities
Net cash flows from operating
1,080,755,377.22 852,609,164.70
activities
II. Cash flows from investing activities:
Cash receipts from withdrawal of
2,060,377.36
investments
Cash receipts from investment
income
Net cash receipts from the disposal of
fixed assets, intangible assets and 15,601.00 67,466.95
other long-term assets
Net cash receipts from the disposal of
subsidiaries & other business units
Other cash receipts related to
investing activities
Subtotal of cash inflows from
2,075,978.36 67,466.95
investing activities
Cash payments for the acquisition of
fixed assets, intangible assets and 311,070,673.84 176,004,254.07
other long-term assets
Cash payments for investments 540,000,000.00
Net increase of pledged borrowings
Net cash payments for the acquisition
of subsidiaries & other business units
Other cash payments related to
investing activities
Subtotal of cash outflows from
851,070,673.84 176,004,254.07
investing activities
Net cash flows from investing
-848,994,695.48 -175,936,787.12
activities
III. Cash flows from financing activities:
Cash receipts from absorbing
investments
Including: Cash received by
subsidiaries from non-controlling
shareholders as investments
Cash receipts from borrowings
16 / 17
Q1 Report of 2024
For the quarter ended For the quarter ended
Items
March 31, 2024 March 31, 2023
Other cash receipts related to
financing activities
Subtotal of cash inflows from
financing activities
Cash payments for the repayment of
borrowings
Cash payments for distribution of
dividends or profits and for interest
expenses
Including: Cash paid by subsidiaries
to non-controlling shareholders as
dividend or profit
Other cash payments related to
7,883,299.25 6,077,533.45
financing activities
Subtotal of cash outflows from
7,883,299.25 6,077,533.45
financing activities
Net cash flows from financing
-7,883,299.25 -6,077,533.45
activities
IV. Effect of foreign exchange rate
changes on cash & cash equivalents
V. Net increase in cash and cash
223,877,382.49 670,594,844.13
equivalents
Add: Opening balance of cash and
2,700,076,206.04 3,396,809,241.14
cash equivalents
VI. Closing balance of cash and cash
2,923,953,588.53 4,067,404,085.27
equivalents
Legal representative: Joo Miguel Ventura Rego Abecasis
Officer in charge of accounting: Chin Wee Hua
Head of accounting department: Liping Liu
(III)The first adoption of new accounting standards or interpretations since 2024 that involve
adjustments to the financial statements at the beginning of the year of first adoption.
□ Applicable √ Not applicable
Hereby announced.
Board of Directors of Chongqing Brewery Co., Ltd.
April 26, 2024
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