First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.Stock Code: 000858 Stock Name: Wuliangye Announcement No.: 2026/ No. 007

Wuliangye Yibin Co. Ltd.First Quarterly Report 2026

The Company and all members of its Board of Directors hereby guarantee that the information disclosed

herein are true accurate and complete and free of any misrepresentations misleading statements or material

omissions.Important information:

1. The Board of Directors (or the “Board”) as well as the directors and senior management of Wuliangye

Yibin Co. Ltd. (hereinafter referred to as the “Company”) hereby guarantee that the contents of this Report are

true accurate and complete and free of any misrepresentations misleading statements or material omissions and

collectively and individually accept legal responsibility for such contents.

2. The Company’s legal representative Chief Financial Officer and head of the accounting department

hereby guarantee that the financial statements carried in this Report are true accurate and complete.

3. Indicate whether the financial statements in this Report have been audited by an independent auditor.

□ Yes□ No

4. Matters on which the auditor has issued a modified audit opinion

□ Applicable□ Not applicable

I Key Financial Information

(I) Key Accounting Data and Financial Indicators

Indicate whether there is any retrospectively restated datum in the table below.? Yes □ No

Reason for retrospective restatements:

□ Change in accounting policy□ Correction of accounting error □ Business combination under common

control □ Other reasons

Q1 2025 YoY change (%)

Q1 2026

Before Restated Restated

Operating revenue (RMB) 22838024164.27 36940356116.35 17085765657.95 33.67%

Net profit attributable to the

listed company’s 8062764940.78 14860265752.48 4416313048.41 82.57%

shareholders (RMB)

Net profit attributable to the

listed company’s

shareholders before non- 8036134136.04 14861410760.60 4417458056.53 81.92%

recurring gains and losses

(RMB)

Net cash generated

from/used in operating -2535371232.04 15848802262.24 15848802262.24 -116.00%

activities (RMB)

1First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

Basic earnings per share

2.07723.82841.137882.56%

(RMB/share)

Diluted earnings per share

2.07723.82841.137882.56%

(RMB/share)

Weighted average return on Up by 3.24

6.50%10.56%3.26%

equity (%) percentage points

December 31 2025 Change (%)

March 31 2026

Before Restated Restated

Total assets (RMB) 198638173212.42 189984270815.47 189984270815.47 4.56%

Equity attributable to the

listed company’s 127996671799.63 119932271234.99 119932271234.99 6.72%

shareholders (RMB)

Reason for change in accounting policy and correction of accounting error:

The Company reviewed its business model for 2025 and based on the principle of prudence adjusted the

accounting treatment related to revenue recognition for certain business operations in 2025. For details please

refer to the Announcement on the Correction of Prior Period Accounting Errors.(II) Non-recurring Gains and Losses

□Applicable □ Not applicable

Unit: RMB

Item Q1 2026 Note

Gain or loss on disposal of non-current assets (inclusive of impairment allowance

4340178.97

write-offs)

Government grants recognized in profit or loss (exclusive of those that are

closely related to the Company's normal business operations and given in

33195310.69

accordance with defined criteria and in compliance with government policies

and have a continuing impact on the Company's profit or loss)

Capital occupation charges on non-financial enterprises that are recognized in

76502.91

profit or loss

Non-operating income and expense other than the above -4074811.08

Less: Income tax effects 6649822.06

Non-controlling interests effects (net of tax) 256554.69

Total 26630804.74 --

Particulars about other items that meet the definition of non-recurring gain/loss:

□ Applicable□ Not applicable

No such cases for the Reporting Period.Explanation of why the Company reclassifies as recurrent an non-recurring gain/loss item listed in the

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

Public—Non-recurring Gain/Loss Items:

□ Applicable□ Not applicable

No such cases for the Reporting Period.(III) Changes in Key Financial Statement Items and Reasons

□Applicable □ Not applicable

Unit: RMB

Change of Q1 2026 Main reason for the

Item Q1 2026 Q1 2025 (restated)

on Q1 2025 change

2First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

(restated) (%)

Operating revenue 22838024164.27 17085765657.95 33.67%

Net profit attributable to the

listed company’s 8062764940.78 4416313048.41 82.57%

shareholders The year-on-year

Net profit attributable to the increases were

listed company’s primarily driven by

8036134136.044417458056.5381.92%

shareholders before non- lower bases in the

recurring gains and losses same period of last

Basic earnings per share year.

2.07721.137882.56%

(RMB/share)

Diluted earnings per share

2.07721.137882.56%

(RMB/share)

A larger volume of

notes received by the

Company in the

Net cash generated

Reporting Period in

from/used in operating -2535371232.04 15848802262.24 -116.00%

response to market

activities

changes and a higher

base in the same

period of last year

II Shareholder Information

(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting

Rights as well as Holdings of Top 10 Shareholders

Unit: share

Number of preference shareholders with resumed

Number of ordinary shareholders at the period-end 676701 0

voting rights at the period-end (if any)

Top 10 shareholders (exclusive of shares lent in refinancing)

Sharehold Shares in

Nature of

ing Restricted pledge marked

Name of shareholder sharehold Total shares held

percentag shares held or frozen

er

e (%) Status Shares

State-

Yibin Development Holding Group Co. owned

34.43%1336548020

Ltd. corporatio

n

State-

owned

Sichuan Yibin Wuliangye Group Co. Ltd. 20.65% 801503277

corporatio

n

China Securities Finance Corporation

Other 2.25% 87164419

Limited

Overseas

Hong Kong Securities Clearing Company

corporatio 2.10% 81576415

Limited

n

Bank of China Limited－China

Merchants China Securities Baijiu Index Other 1.62% 62848970

Classification Securities Investment Fund

State-

Central Huijin Asset Management Co. owned

1.01%39325400

Ltd. corporatio

n

3First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

China Construction Bank Corporation－

Penghua China Securities Liquor

Other 0.67% 26159968

Exchange-traded Open-ended Index

Securities Investment Fund

Bank of China Limited－E Fund Blue

Chip Selected Mixed Securities Other 0.66% 25680000

Investment Fund

Rui Life Insurance Co. Ltd.－Own Funds Other 0.57% 21963862

China Life Insurance Company Limited –

Traditional – Ordinary Insurance Product Other 0.51% 19821591

– 005L – CT001 Shanghai

Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked-up shares of senior management)

Unrestricted Shares by class

Name of shareholder

shares held Class Shares

RMB-

Yibin Development Holding Group Co. Ltd. 1336548020 denominated 1336548020

ordinary shares

RMB-

Sichuan Yibin Wuliangye Group Co. Ltd. 801503277 denominated 801503277

ordinary shares

RMB-

China Securities Finance Corporation Limited 87164419 denominated 87164419

ordinary shares

RMB-

Hong Kong Securities Clearing Company Limited 81576415 denominated 81576415

ordinary shares

RMB-

Bank of China Limited－China Merchants China Securities Baijiu 62848970 denominated 62848970

Index Classification Securities Investment Fund

ordinary shares

RMB-

Central Huijin Asset Management Co. Ltd. 39325400 denominated 39325400

ordinary shares

China Construction Bank Corporation－Penghua China Securities RMB-

Liquor Exchange-traded Open-ended Index Securities Investment 26159968 denominated 26159968

Fund ordinary shares

RMB-

Bank of China Limited－E Fund Blue Chip Selected Mixed 25680000 denominated 25680000

Securities Investment Fund

ordinary shares

RMB-

Rui Life Insurance Co. Ltd.－Own Funds 21963862 denominated 21963862

ordinary shares

RMB-

China Life Insurance Company Limited – Traditional – Ordinary

19821591 denominated 19821591

Insurance Product – 005L – CT001 Shanghai

ordinary shares

Among the top 10 shareholders Sichuan Yibin

Wuliangye Group Co. Ltd. is a wholly-owned subsidiary

Related or acting-in-concert parties among the shareholders above of Yibin Development Holding Group Co. Ltd. And the

Company is not aware of any related or acting-in-concert

parties among the other public shareholders.Top 10 shareholders involved in securities margin trading (if any) None

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

refinancing shares lending:

□ Applicable□ Not applicable

Changes in top 10 shareholders and top 10 unrestricted public shareholders due to shares lent/returned in

4First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

refinancing compared with the prior period:

□ Applicable□ Not applicable

(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□ Applicable□ Not applicable

III Other Significant Events

□ Applicable□ Not applicable

IV Quarterly Financial Statements

(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by Wuliangye Yibin Co. Ltd. March 31 2026 Unit: RMB

Item March 31 2026 January 1 2026

Current assets:

Monetary assets 124259000313.65 127014443016.86

Settlement reserve

Loans to other banks and financial institutions

Held-for-trading financial assets

Derivative financial assets

Notes receivable 11163679.30 4841437.44

Accounts receivable 186892598.91 37745419.51

Receivables financing 20705725822.87 9401640775.74

Prepayments 311612649.45 194996398.52

Premiums receivable

Reinsurance receivables

Receivable reinsurance contract reserve

Other receivables 72306351.61 64356368.30

Of which: Interest receivable

Dividends receivable

Financial assets purchased under resale agreements

Inventories 20139576875.04 20065336751.20

Of which: Data resources

Contract assets

Assets held for sale

Current portion of non-current assets

Other current assets 7476057642.42 7968202942.10

Total current assets 173162335933.25 164751563109.67

Non-current assets:

Loans and advances to customers

Debt investments

Other debt investments

Long-term receivables

5First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

Long-term equity investments 2229514411.45 2233514411.45

Other equity investments

Other non-current financial assets 1200000.00 1200000.00

Investment property

Fixed assets 7537530852.60 7641231013.35

Construction in progress 7406318918.73 7034061137.40

Productive living assets

Oil and gas assets

Right-of-use assets 411709605.10 406402594.29

Intangible assets 2639071715.33 2674326878.83

Of which: Data resources

Development costs

Of which: Data resources

Goodwill 1621619.53 1621619.53

Long-term prepaid expense 110295129.91 121712293.75

Deferred income tax assets 4858654950.53 4813123125.48

Other non-current assets 279920075.99 305514631.72

Total non-current assets 25475837279.17 25232707705.80

Total assets 198638173212.42 189984270815.47

Current liabilities:

Short-term borrowings

Borrowings from the central bank

Loans from other banks and financial institutions

Held-for-trading financial liabilities

Derivative financial liabilities

Notes payable 1532268845.90 1352014535.90

Accounts payable 8367920076.56 8534820869.28

Advances from customers 8424935.55 13915018.07

Contract liabilities 14138270216.02 13459591156.56

Financial assets sold under repurchase agreements

Customer deposits and deposits from other banks

and financial institutions

Payables for acting trading of securities

Payables for underwriting of securities

Employee benefits payable 3633489040.22 4319426136.50

Taxes and levies payable 2808794666.20 2093071546.91

Other payables 10540459907.84 10185754419.34

Of which: Interest payable

Dividends payable 5565976643.61 5565976643.61

Fees and commissions payable

Reinsurance payables

6First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

Liabilities directly associated with assets held for

sale

Current portion of non-current liabilities 338919955.01 364149470.84

Other current liabilities 26284586900.35 27029072199.84

Total current liabilities 67653134543.65 67351815353.24

Non-current liabilities:

Insurance contract reserve

Long-term borrowings

Bonds payable

Of which: Preference shares

Perpetual bonds

Lease liabilities 102184957.37 44381182.44

Long-term payables

Long-term employee benefits payable

Provisions

Deferred income 311301798.28 307239518.79

Deferred income tax liabilities 92707899.25 100151115.86

Other non-current liabilities

Total non-current liabilities 506194654.90 451771817.09

Total liabilities 68159329198.55 67803587170.33

Owners’ equity:

Share capital 3881608005.00 3881608005.00

Other equity instruments

Of which : Preference shares

Perpetual bonds

Capital reserves 2684615931.26 2682980307.40

Less: Treasury shares

Other comprehensive income

Specific reserve

Surplus reserves 42948822868.25 42948822868.25

General reserve

Retained earnings 78481624995.12 70418860054.34

Total equity attributable to owners of the parent company 127996671799.63 119932271234.99

Non-controlling interests 2482172214.24 2248412410.15

Total owners’ equity 130478844013.87 122180683645.14

Total liabilities and owners’ equity 198638173212.42 189984270815.47

Legal representative: Hua Tao (acting) Chief Financial Officer: Zhang Xin Head of the accounting department: Liu Min

2. Consolidated Income Statement

7First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

Unit: RMB

Item Q1 2026 Q1 2025

I Total revenues 22838024164.27 17085765657.95

Of which: Operating revenue 22838024164.27 17085765657.95

Interest income

Insurance premium income

Fee and commission income

II Total costs and expenses 12220848061.58 10963023364.44

Of which: Cost of sales 4240019547.18 3575965782.65

Interest costs

Fee and commission costs

Surrenders

Net insurance claims paid

Net accrual of insurance liability reserves

Expenditure on policy dividends

Reinsurance premium expense

Taxes and levies 3728608895.16 5405179903.22

Selling expense 3670356443.99 1494238861.87

Administrative expense 994431022.43 1044414757.19

R&D expense 121059517.95 101894061.27

Finance costs -533627365.13 -658670001.76

Of which: Interest expense 3241983.24 5872950.39

Interest income 537133453.15 665219912.83

Add: Other income 43026082.31 17819866.76

Return on investment (“－” for loss)

Of which: Share of profit or loss of joint ventures and

associates

Income from the derecognition of financial

assets at amortized cost

Exchange gain (“－” for loss)

Net gain on exposure hedges (“－” for loss)

Gain on changes in fair value (“－” for loss)

Credit impairment loss (“－” for loss)

Asset impairment loss (“－” for loss) 2056185.03

Asset disposal income (“－” for loss) 262253.98 8306654.82

III Operating profit (“－” for loss) 10660464438.98 6150925000.12

Add: Non-operating income 13530869.28 11133134.75

Less: Non-operating expense 13527755.37 26079446.39

IV Gross profit (“－” for gross loss) 10660467552.89 6135978688.48

Less: Income tax expense 2336687184.16 1489273953.16

V Net profit (“－” for net loss) 8323780368.73 4646704735.32

8First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

i. By operating continuity

1. Net profit from continuing operations (“－” for net loss) 8323780368.73 4646704735.32

2. Net profit from discontinued operations (“－” for net loss)

ii. By ownership

1. Net profit attributable to owners of the parent company 8062764940.78 4416313048.41

2. Net profit attributable to non-controlling interests 261015427.95 230391686.91

VI Other comprehensive income net of tax

Other comprehensive income net of tax attributable to owners of

the parent company

i. Other comprehensive income that will not be reclassified to

profit or loss

1. Changes caused by remeasurements on defined benefit

schemes

2. Other comprehensive income that will not be reclassified to

profit or loss under the equity method

3. Changes in the fair value of other equity investments

4. Changes in the fair value arising from changes in own

credit risk

5. Other

ii. Other comprehensive income that will be reclassified to

profit or loss

1. Other comprehensive income that will be reclassified to

profit or loss under the equity method

2. Changes in the fair value of other debt investments

3. Other comprehensive income arising from the

reclassification of financial assets

4. Credit impairment allowances for other debt investments

5. Reserve for cash flow hedges

6. Differences arising from the translation of foreign currency-

denominated financial statements

7. Other

Other comprehensive income net of tax attributable to non-

controlling interests

VII Total comprehensive income 8323780368.73 4646704735.32

Total comprehensive income attributable to owners of the

parent company 8062764940.78 4416313048.41

Total comprehensive income attributable to non-controlling

interests 261015427.95 230391686.91

VIII Earnings per share:

i. Basic earnings per share 2.0772 1.1378

ii. Diluted earnings per share 2.0772 1.1378

Legal representative: Hua Tao (acting) Chief Financial Officer: Zhang Xin Head of the accounting department: Liu Min

3. Consolidated Cash Flow Statement

Unit: RMB

Item Q1 2026 Q1 2025

I Cash flows from operating activities:

Proceeds from sale of goods and rendering of services 13311265445.29 38234128546.72

Net increase in customer deposits and deposits from other

banks and financial institutions

Net increase in borrowings from the central bank

9First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

Net increase in loans from other financial institutions

Premiums received on original insurance contracts

Net proceeds from reinsurance

Net increase in deposits and investments of policy holders

Interest fees and commissions received

Net increase in loans from other banks and financial

institutions

Net increase in proceeds from repurchase transactions

Net proceeds from acting trading of securities

Tax and levy rebates

Cash generated from other operating activities 497184787.44 469059184.72

Subtotal of cash generated from operating activities 13808450232.73 38703187731.44

Payments for goods and services 3471591309.18 3815328384.40

Net increase in loans and advances to customers

Net increase in deposits in the central bank and other banks

and financial institutions

Payments for claims on original insurance contracts

Net increase in loans to other banks and financial

institutions

Interest fees and commissions paid

Policy dividends paid

Cash paid to and for employees 3177268397.03 3351345082.62

Taxes and levies paid 7395183760.72 13563879816.10

Cash used in other operating activities 2299777997.84 2123832186.08

Subtotal of cash used in operating activities 16343821464.77 22854385469.20

Net cash generated from/used in operating activities -2535371232.04 15848802262.24

II Cash flows from investing activities:

Proceeds from the disposal of investments

Return on investment 4000000.00

Net proceeds from the disposal of fixed assets intangible

assets and other long-term assets 16616830.34 22447707.43

Net proceeds from the disposal of subsidiaries and other

business units

Cash generated from other investing activities

Subtotal of cash generated from investing activities 20616830.34 22447707.43

Payments for the acquisition and construction of fixed

assets intangible assets and other long-term assets 346443644.15 428957997.08

Payments for the acquisition of investments 37620000.00 40000000.00

Net increase in pledge loans

Net payments for the acquisition of subsidiaries and other

business units

Cash used in other investing activities

Subtotal of cash used in investing activities 384063644.15 468957997.08

Net cash generated from/used in investing activities -363446813.81 -446510289.65

III Cash flows from financing activities:

10First Quarterly Report 2026 of Wuliangye Yibin Co. Ltd.

Capital contributions received 12000000.00

Of which: Capital contributions received by subsidiaries

from non-controlling interests 12000000.00

Borrowings received

Cash generated from other financing activities

Subtotal of cash generated from financing activities 12000000.00

Repayment of borrowings

Interest and dividends paid 4507561967.32

Of which: Dividends paid by subsidiaries to non-controlling

interests

Cash used in other financing activities 70696910.56 104356504.37

Subtotal of cash used in financing activities 70696910.56 4611918471.69

Net cash generated from/used in financing activities -58696910.56 -4611918471.69

IV Effect of foreign exchange rate changes on cash and cash

equivalents

V Net increase in cash and cash equivalents -2957514956.41 10790373500.90

Add: Cash and cash equivalents beginning of the period 124114690633.67 124771274417.68

VI Cash and cash equivalents end of the period 121157175677.26 135561647918.58

(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First

Implementation of the NewAccounting Standards Implemented since 2026

□ Applicable□ Not applicable

(III) Independent Auditor’s Report

Indicate whether the financial statements in this Report have been audited by an independent auditor.□ Yes□ No

These financial statements are unaudited by such an auditor.The Board of Directors of Wuliangye Yibin Co. Ltd.April 30 2026

11