Stock Code: 000568 Stock abbreviation: Luzhou Laojiao Announcement No. 2026-36

Luzhou Laojiao Co. Ltd.Q3 2026 Report

Luzhou Laojiao Co. Ltd. (hereinafter referred to as the “Company”) and all the members of the

Company’s Board of Directors hereby guarantee that the contents of this Report are true accurate

and complete and free of any misrepresentations misleading statements or material omissions.Important Statements:

1. The Board of Directors as well as directors and senior management guarantee that the information

presented in this report is free of any false records misleading statements or material omissions and

shall individually and together be legally liable for truthfulness accuracy and completeness of its

contents.

2. The responsible person for the Company the responsible person for accounting work and the

responsible person for the Company’s financial affairs (Accounting Supervisor) have warranted that

the financial statements in this report are true accurate and complete.

3. Whether the financial statements of this report have been audited by an auditor

□Yes □ No

This report has been prepared in both Chinese and English. Should there be any discrepancies or

misunderstandings between the two versions the Chinese version shall prevail.1. Key financial information

1.1 Key accounting data and financial indicators

Whether the Company performed a retroactive adjustment to or restatement of accounting data.□Yes □ No

Q3 2026 YoY change Q1-Q3 2026 YoY change

Operating revenues

4195391986.95 -37.14% 14667616562.73 -36.58%

(CNY)

Net profits

attributable to

1331795155.20 -57.03% 5671059241.53 -47.31%

shareholders of the

Company (CNY)

Net profits

attributable to

shareholders of the

1329187091.79 -57.01% 5620637939.28 -47.67%

Company before

non-recurring gains

and losses (CNY)

Net cash flows from

operating activities — — 4445413276.27 -54.74%

(CNY)

Basic earnings per

0.90 -57.14% 3.85 -47.33%

share (CNY/share)

Diluted earnings per

0.90 -57.14% 3.85 -47.33%

share (CNY/share)

Weighted average

3.01% -3.57% 11.63% -10.37%

ROE

September 30 2026 December 31 2025 Change

Total assets (CNY) 59346398004.74 64794994851.27 -8.41%

Net assets

attributable to

47053709808.49 49780293635.74 -5.48%

shareholders of the

Company (CNY)

1.2 Non-recurring gains and losses

□ Applicable □ N/A

Unit: CNY

Item Q3 2026 Q1-Q3 2026 Note

Profit or loss from disposal

of non-current assets

(including the write-off 107037.78 444548.65

portion of the impairment

provision)

Government grants

accounted for in the profit

or loss for the current

period (except for the 14317767.66 33492454.55

government grants closely

related to the business of

the Company and given in

accordance with defined

criteria and in compliance

with government policies

and have a continuing

impact on the Company's

profit or loss)

Gain or loss on fair-value

changes in financial assets

and liabilities held by a

non-financial enterprise as

well as on disposal of

financial assets and 2169075.73 32795815.99

liabilities (exclusive of the

effective portion of hedges

that is related to the

Company's normal

business operations)

Other non-operating

income and expenditure

-13148235.08 305145.87

except above-mentioned

items

Less: Corporate income

861665.82 16640745.95

tax

Minority interests (after

-24083.14 -24083.14

tax)

Total 2608063.41 50421302.25 --

Other items that meet the definition of non-recurring gain/loss:

□ Applicable □ N/A

No such cases for the reporting period.Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in the

Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to

the Public-Non-Recurring Gains and Losses as a recurring gain/loss item.□ Applicable □ N/A

No such cases for the reporting period.

1.3 Changes in key financial data and indicators and reasons for the changes

□ Applicable □ N/A

A. The closing balance of held-for-trading financial assets decreased by CNY 963883715.01

compared to the opening balance at the beginning of the year indicating a decrease of 60.82%. It was

mainly due to the redemptions upon maturity of wealth management products in the current period.B. The closing balance of accounts receivables increased by CNY 26349718.64 compared to the

opening balance at the beginning of the year indicating an increase of 433.70%. It was mainly due to

an increase in receivables from overseas operations.C. The closing balance of other current assets decreased by CNY 201381343.47 compared to the

opening balance at the beginning of the year indicating a decrease of 46.78%. It was mainly due to the

offsetting in the current period of the opening amount of overpaid tax.D. The closing balance of Investment property decreased by CNY 36736080.86 compared to the

opening balance at the beginning of the year indicating a decrease of 76.70%. It was mainly due to the

reclassification of certain previously rented properties for own use in the current period.E. The closing balance of other non-current assets increased by CNY 353418201.97 compared to the

opening balance at the beginning of the year indicating an increase of 53.16%. It was mainly due to the

increased prepayment for long-term assets—the Chengdu Innovation and Development Center

Building—in the current period.F. The closing balance of short-term loans increased by CNY 3001758333.34 compared to the

opening balance at the beginning of the year. It was mainly due to a one-year bank loan arranged to

meet the Company’s production and operation needs.G. The closing balance of contract liabilities decreased by CNY 1050974009.30 compared to the

opening balance at the beginning of the year indicating a decrease of 31.21%; and the closing balance

of other current liabilities decreased by CNY 136049291.25 compared to the opening balance at the

beginning of the year indicating a decrease of 31.14%. It was mainly due to a decrease in advance

payments from customers in the current period.H. The closing balance of taxes payable decreased by CNY 527905594.75 compared to the opening

balance at the beginning of the year indicating a decrease of 32.73%. It was mainly due to the payment

in the current period of the taxes payable as at the end of last year.I. The closing balance of other payable decreased by CNY 188984513.12 compared to the opening

balance at the beginning of the year indicating a decrease of 30.69%. It was mainly due to the

unlocking of the restricted share incentive plan resulting in a decrease in liabilities recognized for

repurchase obligations.J. The closing balance of non-current liabilities due within one year decreased by CNY

1847332482.89 compared to the opening balance at the beginning of the year indicating a decrease

of 45.34%. It was mainly due to the repayment of due loans.K. The closing balance of long-term loans decreased by CNY 1899364419.42 compared to the

opening balance at the beginning of the year indicating a decrease of 72.30%. It was mainly due to the

reclassification of long-term loans due within one year.L. The closing balance of treasury stock decreased by CNY 157697194.85 compared to the opening

balance at the beginning of the year indicating a decrease of 98.79%. It was mainly due to the relevant

reversal as a result of the unlocking of restricted shares in the current period.M. The closing balance of other comprehensive income decreased by CNY 84745736.43 compared

to the opening balance at the beginning of the year indicating a decrease of 59.00%. It was mainly due

to the decreased fair value of equity investments and the disposal of equity interests in North Chemical

Industries Co. Ltd. and other investees in the current period.N. Operating revenues in the current Q1-Q3 period decreased by CNY 8459843339.40 compared to

the same period of last year indicating a decrease of 36.58%. It was mainly due to the decreased

product sales volume in the current period.O. Investment income in the current Q1-Q3 period increased by CNY 49539347.31 compared to the

same period of last year indicating an increase of 88.11%. It was mainly due to the increased earnings

of investee Huaxi Securities and the decreased note discount expenses.P. Total profits before tax in the current Q1-Q3 period decreased by CNY 7078980212.15 compared

to the same period of last year indicating a decrease of 48.53%. It was mainly due to an overall

decrease in product sales volume and product mix adjustments.Q. Income tax expenses in the current Q1-Q3 period decreased by CNY 2005245890.20 compared to

the same period of last year indicating a decrease of 52.87%. It was mainly due to a decrease in total

profits before tax in the current period.R. Net profit attributable to non-controlling interests in the current Q1-Q3 period increased by CNY

17601085.84 compared to the same period of last year indicating an increase of 54.50%. It was

mainly due to a year-on-year growth in net profit of non-wholly-owned subsidiaries in the current period.S. Net cash flows from operating activities in the current Q1-Q3 period decreased by CNY

5377177456.72 compared to the same period of last year indicating a decrease of 54.74%. It was

mainly due to a decrease in cash received from sale of goods in the current period.T. Net cash flows from investing activities in the current Q1-Q3 period increased by CNY

248690732.17 compared to the same period of last year. It was mainly due to the decreased

investments in long-term assets in the current period.U. Cash received from borrowings in the current Q1-Q3 period increased by CNY 3319635580.58

compared to the same period of last year. It was mainly due to new one-year bank borrowings raised in

the current period.V. Cash paid for debt repayments in the current Q1-Q3 period increased by CNY 1340700000.00

compared to the same period of last year indicating an increase of 49.29%. It was mainly due to the

repayment of mature long-term loans in the current period.

2. Shareholder information

2.1 Total numbers of common shareholders and preference shareholders with resumed voting

rights as well as shareholdings of top 10 shareholders

Unit: Share

Total number of common Total number of preference shareholders with

shareholders at the end of the 202684 resumed voting rights at the end of the reporting 0

reporting period period (if any)

Shareholdings of the top 10 shareholders (exclusive of shares lent in refinancing)

Name of Nature of Shareholding Total shares Number of Pledged marked or frozen

shareholder shareholder percentage held holding shares

restricted Status of Number of

shares shares shares

Luzhou

State-owned

Laojiao Group 26.05% 383433639 0 N/A 0

corporation

Co. Ltd.Luzhou

XingLu

State-owned

Investment 24.86% 365971142 0 N/A 0

corporation

Group Co.Ltd.Bank of China

Co. Ltd. –

Baijiu index

classification

securities Other 4.83% 71148032 0 N/A 0

investment

fund by China

Merchants

Fund

China

Securities

Finance Other 1.51% 22224821 0 N/A 0

Corporation

Limited

Hong Kong

Securities

Outbound

Clearing 1.48% 21710584 0 N/A 0

corporation

Company

Limited

China

Construction

Bank

Corporation－

Other 1.44% 21225108 0 N/A 0

Penghua

Wine & Liquor

Exchange-

Traded Fund

Rui Life

Insurance

Other 1.36% 20049840 0 N/A 0

Co. Ltd.－

Own Funds

Guofeng

Xinghua

(Beijing)

Private Equity

Fund

Management

Co. Ltd.－

Guofeng Other 1.23% 18166400 0 N/A 0

Xinghua

Honghuzhiyua

n Tranche 3

Private

Securities

Investment

Fund No. 1

Bank of China

Co. Ltd.－

Blue chip

selected

hybrid Other 0.82% 12000112 0 N/A 0

securities

investment

fund by E

Fund

Industrial and

Commercial

Bank of China

Co. Ltd.－CSI

Main

Consumer

Other 0.67% 9861848 0 N/A 0

Exchange-

Traded Open-

Ended Index

Securities

Investment

Fund

Shareholdings of the top 10 non-restricted shareholders (exclusive of shares lent in refinancing and locked shares of

executives)

Type and number of shares

Name of shareholder Number of non-restricted shares held

Type Number

CNY common

Luzhou Laojiao Group Co. Ltd. 383433639 383433639

shares

Luzhou XingLu Investment CNY common

365971142 365971142

Group Co. Ltd. shares

Bank of China Co. Ltd. – Baijiu

index classification securities CNY common

71148032 71148032

investment fund by China shares

Merchants Fund

China Securities Finance CNY common

22224821 22224821

Corporation Limited shares

Hong Kong Securities Clearing CNY common

21710584 21710584

Company Limited shares

China Construction Bank

CNY common

Corporation－Penghua Wine & 21225108 21225108

shares

Liquor Exchange-Traded Fund

Rui Life Insurance Co. Ltd.－ CNY common

20049840 20049840

Own Funds shares

Guofeng Xinghua (Beijing)

Private Equity Fund

Management Co. Ltd.－

CNY common

Guofeng Xinghua 18166400 18166400

shares

Honghuzhiyuan Tranche 3

Private Securities Investment

Fund No. 1

Bank of China Co. Ltd.－Blue

CNY common

chip selected hybrid securities 12000112 12000112

shares

investment fund by E Fund

Industrial and Commercial

Bank of China Co. Ltd.－CSI

CNY common

Main Consumer Exchange- 9861848 9861848

shares

Traded Open-Ended Index

Securities Investment Fund

1. Luzhou Laojiao Group Co. Ltd. and Luzhou XingLu Investment

Group Co. Ltd. are both state-owned holding companies under

the jurisdiction of SASAC of Luzhou. The two companies have

signed the agreement of persons acting in concert. For details

please refer to the announcement of the Company on May 23

Related parties or acting-in-concert 2024 - Announcement on the Renewed Agreement of Persons

Acting in Concert Signed by Shareholders (Announcement No.

2024-22).

2. In addition whether there is an association between the

remaining shareholders or they belong to persons acting in

concert is unknown.Top 10 shareholders participating in securities

None

margin trading (if any)

5% or greater shareholders top 10 shareholders and Top 10 unrestricted shareholders involved in

refinancing shares lending

□ Applicable □ N/A

Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares

lending/return compared with the prior period

□ Applicable □ N/A

2.2 Total number of preferred shareholders and shareholdings of the top 10 preferred

shareholders

□ Applicable □ N/A

3. Other significant events

□ Applicable □ N/A

A. Progress on the restricted share incentive plan

a. On February 4 2026 the Company held the 21st Meeting of the 11th Board of Directors at which

the Proposal on the Satisfaction of Unlocking Conditions for the Second Unlocking Period of the

Reserved Restricted Shares under the 2021 Restricted Share Incentive Plan the Proposal on the

Satisfaction of Unlocking Conditions for the Third Unlocking Period of the 2021 Restricted Share

Incentive Plan and the Proposal on the Repurchase and Retirement of Certain Restricted Shares and

the Adjustment of Repurchase Price were reviewed and approved. On February 5 the Company

disclosed the Announcement on the Repurchase and Retirement of Certain Restricted Shares to

Reduce Registered Capital and Notice to Creditors. By the expiration of the declaring period the

Company had not received any declaration from the relevant creditors for early payout of debts or

provision of guarantee.b. On February 13 2026 the Company disclosed the Reminder Announcement on Unlocked Shares in

the Second Unlocking Period of the Reserved Restricted Shares under the 2021 Restricted Share

Incentive Plan Being Allowed for Public Trading as well as the Reminder Announcement on Unlocked

Shares in the Third Unlocking Period under the 2021 Restricted Share Incentive Plan Being Allowed for

Public Trading. As such the unlocked restricted shares in the second unlocking period of the reserved

restricted shares and in the third unlocking period under the 2021 Restricted Share Incentive Plan were

allowed for public trading on February 24 2026.c. On June 3 2026 the Company disclosed the Announcement on the Completion of the Repurchase

and Retirement of Certain Restricted Shares. As at June 3 2026 the Company completed the

repurchase and retirement of 40500 restricted shares.d. On September 16 2026 the Company held the 29th Meeting of the 11th Board of Directors at which

the Proposal on the Satisfaction of Unlocking Conditions for the Third Unlocking Period of the Reserved

Restricted Shares under the 2021 Restricted Share Incentive Plan was reviewed and approved. On

September 17 the Company disclosed the Announcement on the Satisfaction of Unlocking Conditions

for the Third Unlocking Period of the Reserved Restricted Shares under the 2021 Restricted Share

Incentive Plan.e. On September 23 2026 the Company disclosed the Reminder Announcement on Unlocked Shares

in the Third Unlocking Period of the Reserved Restricted Shares under the 2021 Restricted Share

Incentive Plan Being Allowed for Public Trading. As such the unlocked restricted shares in the third

unlocking period of the reserved restricted shares under the 2021 Restricted Share Incentive Plan were

allowed for public trading on September 28 2026.B. The Company invested in the Technical Renovation Project of Intelligent Baijiu Production (Phase I)

with the wholly-owned subsidiary Luzhou Laojiao Baijiu Production Co. Ltd. as the implementer. The

total investment amount approximated CNY 4782.5090 million. For further information see

Announcement No. 2022-24 on the Implementation of Luzhou Laojiao Technical Renovation Project of

Intelligent Baijiu Production (Phase I) by Subsidiary. The program is currently under construction.

4. Financial statements

4.1 Financial statements

4.1.1 Consolidated balance sheet

Prepared by: Luzhou Laojiao Co. Ltd.September 30 2026

Unit: CNY

Item September 30 2026 December 31 2025

Current assets:

Cash and cash equivalents 22502583597.89 27341566698.37

Settlement reserves

Lending funds

Held-for-trading financial assets 620888244.36 1584771959.37

Derivative financial assets

Notes receivables

Accounts receivables 32425289.30 6075570.66

Accounts receivables financing 1298533766.12 1466494973.96

Prepayment 176717540.24 145596475.65

Premiums receivable

Reinsurance accounts receivable

Reinsurance contract reserve

Other receivables 16440331.42 17318326.51

Including：Interests receivable

Dividends receivable

Buying back the sale of financial

assets

Inventories 15679403351.42 15396031707.35

Including: Data resource

Contract assets

Assets held for sale

Non-current assets due within one

year

Other current assets 229078567.16 430459910.63

Total current assets 40556070687.91 46388315622.50

Non-current assets:

Disbursement of loans and advances

Investments in debt obligations

Investments in other debt obligations

Long-term receivables

Long-term equity investments 2992994211.95 2930804469.77

Investments in other equity

instruments 358164588.41 475499237.90

Other non-current financial assets

Investment property 11156670.22 47892751.08

Fixed assets 8168339010.11 8523891404.03

Construction in progress 2594614693.91 2064766283.24

Productive biological assets

Oil and gas assets

Use right assets 13559076.77 19863214.19

Intangible assets 3372815756.64 3414065535.11

Including: Data resource 1785382.37 2856611.80

Development expenses

Including: Data resource

Goodwill

Long-term deferred expenses 756014.13 1034985.48

Deferred tax assets 259667725.68 264019980.93

Other non-current assets 1018259569.01 664841367.04

Total non-current assets 18790327316.83 18406679228.77

Total assets 59346398004.74 64794994851.27

Current liabilities:

Short-term loans 3001758333.34

Borrowings from the central bank

Loans from other banks

Held-for-trading financial liabilities

Derivative financial liabilities

Notes payable

Accounts payable 1386079376.01 1413421175.80

Advance from customer 2592640.93 2014696.36

Contract liabilities 2316469718.53 3367443727.83

Financial assets sold for repurchase

Deposits from customers and inter-

bank

Customer brokerage deposits

Securities underwriting brokerage

deposits

Employee benefits payable 428547687.31 481722380.36

Taxes payable 1084978475.06 1612884069.81

Other payable 426768953.76 615753466.88

Including：Interests payable

Dividends payable 28163719.84 28163719.84

Handling charges and commissions

payable

Reinsurance accounts payable

Liabilities held for sale

Non-current liabilities due within one

year 2226866730.16 4074199213.05

Other current liabilities 300870979.74 436920270.99

Total current liabilities 11174932894.84 12004359001.08

Non-current liabilities:

Insurance contract reserves

Long-term loans 727801891.51 2627166310.93

Bonds payable

Including：Preference shares

Perpetual bonds

Lease liabilities 14638450.30 15693190.61

Long-term payables

Long-term payroll payables

Accrued liabilities

Deferred income 80397517.81 82513945.77

Deferred tax liabilities 133136169.75 171180022.42

Other non-current liabilities

Total non-current liabilities 955974029.37 2896553469.73

Total liabilities 12130906924.21 14900912470.81

Owners' equity

Share capital 1471901463.00 1471941963.00

Other equity instruments

Including: preference shares

Perpetual bonds

Capital reserves 5440926475.37 5439328102.53

Less: treasury stock 1937079.62 159634274.47

Other comprehensive income 58883117.09 143628853.52

Special reserves

Surplus reserves 1471941963.00 1471941963.00

General risk reserve

Undistributed profits 38611993869.65 41413087028.16

Total equity attributable to owners of

the parent company 47053709808.49 49780293635.74

Non-controlling interests 161781272.04 113788744.72

Total owners' equity 47215491080.53 49894082380.46

Total liabilities and owners' equity 59346398004.74 64794994851.27

Legal representative: Liu Miao

Person in charge of accounting affairs: Xie Hong

Person in charge of accounting department: Song Ying

4.1.2 Consolidated income statement for Q1-Q3

Unit: CNY

Item Q1-Q3 2026 Q1-Q3 2025

1. Total operating revenue 14667616562.73 23127459902.13

Including: Operating revenue 14667616562.73 23127459902.13

Interest income

Earned premium

Fee and commission

income

2. Total operating costs 7336890853.37 8624016188.94

Including: Cost of sales 2399983662.33 2980340788.02

Interest expense

Handling charges and

commission expenses

Refunded premiums

Net payments for

insurance claims

Net provision for

insurance contracts

Bond insurance expense

Reinsurance Expenses

Taxes and surcharges 2512295331.83 2800294797.90

Selling and distribution

expenses 2000805628.94 2419363363.64

General and

administrative expenses 604498611.64 681884971.89

Research and

Development expenses 113706403.94 127236495.49

Financial expenses -294398785.31 -385104228.00

Including：Interest

expenses 89268523.91 125045963.68

Interest income 400428772.68 517472242.09

Plus: Other income 39909399.78 38992675.48

Investment income ("-" for

losses) 105765315.60 56225968.29

Including: income from

investment in associates and joint 124808000.86 110153845.03

ventures

Income from the

derecognition of financial assets

measured at amortized cost

Foreign exchange gains ("-"

for losses)

Net gain on exposure hedges

(“-” for losses)

Gains from the changes in fairvalues(“-“ for losses) 32683422.40 22725744.18Credit impairment losses (“-”

for losses) -1248358.94 212642.32Impairment losses(“-“ forlosses)

Gains from disposal of

assets("-" for losses) 444548.65 -582373.63

3. Operating profits ("-" for losses) 7508280036.85 14621018369.83

Plus: non-operating income 20365748.46 14538207.24

Less: non-operating expenses 20060602.59 47991182.20

4. Total profits before tax ("-" for

total losses) 7508585182.72 14587565394.87

Less: income tax expenses 1787628886.72 3792874776.92

5. Net profit ("-" for net loss) 5720956296.00 10794690617.95

5.1 By operating continuity

5.1.1 Net profit from continuing

operation ("-" for losses) 5720956296.00 10794690617.95

5.1.2 Net profit from discontinued

operation ("-" for losses)

5.2 By ownership

1) Attributable to shareholders of the

parent company ("-" for losses) 5671059241.53 10762394649.32

2) Attributable to non-controlling

interests ("-" for losses) 49897054.47 32295968.63

6. Net of tax from other

comprehensive income -59194445.86 39344460.12

Net of tax from other comprehensive

income to the owner of the parent -57250521.12 39901755.85

company

6.1 Other comprehensive income

cannot be reclassified into the profit -60023042.20 39226482.98

and loss:

1) Remeasure the variation of net

indebtedness or net asset of defined

benefit plans

2) Share in other comprehensive

income that cannot be classified into -670866.48 505649.11

profit and loss under equity method

3) Changes in fair value of

investments in other equity -59352175.72 38720833.87

instruments

4) Changes in fair value of the

company’s credit risks

5) Other

6.2 Other comprehensive income

that will be reclassified into the profit 2772521.08 675272.87

and loss

1) Share in other comprehensive

income that will be classified into 5147740.84 1356156.40

profit and loss under equity method

2) Changes in fair value of

investments in other debt obligations

3) Other comprehensive income

arising from the reclassification of

financial assets

4) Allowance for credit impairments in

investments in other debt obligations

5) Reserve for cash-flow hedge

6) Balance arising from the

translation of foreign currency -2375219.76 -680883.53

financial statements

7) Others

Net of tax from other comprehensive

income to non-controlling interests -1943924.74 -557295.73

7. Total comprehensive income 5661761850.14 10834035078.07

(1) Total comprehensive income

attributable to owners of the parent 5613808720.41 10802296405.17

company

(2) Total comprehensive income

attributable to non-controlling 47953129.73 31738672.90

interests

8. Earnings per share

(1) Basic earnings per share 3.85 7.31

(2) Diluted earnings per share 3.85 7.31

Legal representative: Liu Miao

Person in charge of accounting affairs: Xie Hong

Person in charge of accounting department: Song Ying

4.1.3 Consolidated statement of cash flows for Q1-Q3

Unit: CNY

Item Q1-Q3 2026 Q1-Q3 2025

1. Cash flows from operating

activities

Cash received from sale of goods

and rendering of services 15160944262.33 25912836641.79

Net increase in customer bank

deposits and placement from banks

and other financial institutions

Net increase in loans from central

bank

Net increase in loans from other

financial institutions

Premiums received from original

insurance contracts

Net cash received from reinsurance

business

Net increase in deposits and

investments from policyholders

Cash received from interest handling

charges and commissions

Net increase in placements from

other financial institutions

Net capital increase in repurchase

business

Net cash received from customer

brokerage deposits

Refunds of taxes and surcharges 6060640.17 8154186.38

Cash received from other operating

activities 684548479.25 569081529.79

Subtotal of cash inflows from

operating activities 15851553381.75 26490072357.96

Cash paid for goods purchased and

services received 2126684406.78 3507338498.19

Net increase in loans and advances

to customers

Net increase in deposits in central

bank and other banks and financial

institutions

Cash paid for original insurance

contract claims

Net increase in lending funds

Cash paid for interests handling

charges and commissions

Cash paid for policy dividends

Cash paid to and on behalf of

employees 1055170852.35 1076420883.26

Cash paid for taxes and surcharges 6210791906.63 9958294094.47

Cash paid for other operating

activities 2013492939.72 2125428149.05

Subtotal of cash outflows from

operating activities 11406140105.48 16667481624.97

Net cash flows from operating

activities 4445413276.27 9822590732.99

2. Cash flows from investing

activities

Cash received from disposal of

investments 2047357121.78 2220115953.40

Cash received from returns on

investments 77457979.30 35899436.04

Net cash received from disposal of

fixed assets intangible assets and 1023685.58 534068.91

other long-term assets

Net cash received from disposal of

subsidiaries and other business units

Cash received from other investing

activities

Subtotal of cash inflows from

investing activities 2125838786.66 2256549458.35

Cash paid to acquire and construct

fixed assets intangible assets and 947762368.34 1137163772.20

other long-term assets

Cash paid for investments 1020000000.00 1210000000.00

Net increase in pledge loans

Net cash paid to acquire subsidiaries

and other business units

Cash paid for other investing

activities

Subtotal of cash outflows from

investing activities 1967762368.34 2347163772.20

Net cash flows from investing

activities 158076418.32 -90614313.85

3. Cash flows from financing

activities

Cash received from investors

Including: cash received by

subsidiaries from investments by

minority shareholders

Cash received from borrowings 3319635580.58

Cash received from other financing

activities

Subtotal of cash inflows from

financing activities 3319635580.58

Cash paid for debt repayments 4060900000.00 2720200000.00

Cash paid for distribution of

dividends and profits or payment of 8602991508.17 8965980678.14

interest

Including: dividends and profits paid

to minority shareholders by 36240666.20

subsidiaries

Cash paid for other financing

activities 7759797.26 4831586.10

Subtotal of cash outflows from

financing activities 12671651305.43 11691012264.24

Net cash flows from financing

activities -9352015724.85 -11691012264.24

4. Effect of fluctuation in exchange

rate on cash and cash equivalents -20510974.83 -5048523.60

5. Net increase in cash and cash

equivalents -4769037005.09 -1964084368.70

Plus: balance of cash and cash

equivalents at the beginning of the 26925093961.82 33367668014.46

period

6. Balance of cash and cash

equivalents at the end of the 22156056956.73 31403583645.76

period

4.2 Adjustments to Financial Statement Items at the Beginning of the Year of the First

Implementation of the New Accounting Standards Implemented since 2026

□ Applicable □ N/A

4.3 Auditor’s report

Whether the financial statements of this report have been audited by an auditor

□ Yes □ No

The said financial statements are unaudited by an auditor.The Board of Directors of Luzhou Laojiao Co. Ltd.October 30 2026