Yantai Changyu Pioneer Wine Co. Ltd.
2019 the First Quarter Report
2019-Final 02
April 2019
I. Important Notice
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.
All directors attended the board meeting for deliberating this quarter report.
Mr. Zhou Hongjiang (person in charge of the Company) and Mr. Jiang Jianxun (person in
charge of accounting work person in charge of accounting organization and person in charge
of accounting) declare to assure the truthfulness accuracy and completeness of the financial
statement in this quarter report.
II、Corporate Information
1. Key accounting data and financial indicators
Whether the Company need to make retroactive adjustments or restate the accounting data of
previous fiscal years.□ Yes √ No
Item This report period
The same period of
last year
More or less than the
same period of last
year (%)
Operating revenue (CNY) 1667424758 1804057976 -7.57%
Net profit attributed to the
shareholders of the listed
company (CNY)
456381471 479444238 -4.81%
Net profit attributed to the
shareholders of the listed
company after deducting the
irregular profit and loss (CNY)
450709661 466181564 -3.32%
Net cash flows from the
operating activities (CNY)
294678342 507263964 -41.91%
Basic earnings per share
(CNY)
0.67 0.70 -4.29%
Diluted earnings per share
(CNY)
0.67 0.70 -4.29%
Weighted average for earning
rate of the net assets
4.75% 5.24% -0.49%
The end of this
report period
The end of last year
More or less than the
end of last year (%)
Total assets (CNY) 13317351339 13117729052 1.52%
Net Assets attributed to the
shareholders of the listed
company (CNY)
10055194755 9606099365 4.68%
Details of irregular profit and loss
V Yes □ No
Unit：CNY
Item
From beginning of year
to end of report period
Explanation
Gain on disposal of non-current assets including
the reversal of accrued impairment provision
1138
Government grants credited in profit and loss
(except for those recurring government grants
that are closely related to the entity's operation
in line with related regulations and have proper
basis of calculation)
6172178
Other non-operating income and expenses 1259563
Less: Income tax effect 1741770
Minority interests effect(after-tax) 19299
Total 5671810 --
The reasons shall be made clear and definitely as to the non-recurring profit and loss that the
Company has defined by virtue of the Explanatory Announcement on Public Company’s
Information Disclosure No.1 - Non-recurring Profit and Loss and as to regarding the non-recurring
profit and loss as recurrent profit and loss as specified in 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 is defined and specified as recurrent profit
and loss in accordance with the Explanatory Announcement on Public Company’s Information
Disclosure No.1 - Non-recurring Profit and Loss during the report period.
2. The total number of shareholders and top 10 shareholders at the end of the report period
1) The number of the common shareholders and preferred shareholders with recovered voting
power as well as the shareholding of top 10 shareholders
Unit: share
Total number of common
shareholders at the end of report
period
45104
Total number of preferred
shareholders with recovered
voting power at the end of re
port period
0
Shareholding of top 10 shareholders
Name of Shareholders
Character of
shareholders
Percentage
(%)
Shares held
Number
of
restricted
shares
Pledged or
frozen
Share
status
Amount
YANTAI CHANGYU GROUP
COMPANY LIMITED
Domestic non-
state-owned
legal person
50.40% 345473856 0 0
GAOLING FUNDL.P.
Foreign legal
person
3.08% 21090219 0 0
CHINA SECURITIES FINANCE
CORP
State-owned
legal person
2.25% 15440794 0
BBH BOS S/A FIDELITY FD -
CHINA FOCUS FD
Foreign legal
person
2.22% 15241826 0 0
SHENWAN HONGYUAN
SECURITIES(HONGKONG)
LIMITED
Foreign legal
person 1.24% 8492763 0 0
FIDELITY PURITAN TRUST:
FIDELITY SERIES INTRINSIC
OPPORTUNITIES FUND
Foreign legal
person 0.93% 6350762 0 0
GUOTAI JUNAN
SECURITIES(HONGKONG)
LIMITED
Foreign legal
person 0.80% 5516796 0 0
CENTRAL HUIJIN ASSET
MANAGEMENT LTD.
State-owned
legal person
0.69% 4761200 0 0
VANGUARD EMERGING
MARKETS STOCK INDEX
FUND
Foreign legal
person 0.55% 3788487 0 0
FIDELITY CHINA SPECIAL
SITUATIONS PLC
Foreign legal
person
0.55% 3779202 0 0
Shareholding of top 10 shareholders with unrestricted shares
Name of Shareholders
Number of
unrestricted
shares held
Type of share
Type of
share
Amount
YANTAI CHANGYU GROUP COMPANY LIMITED 345473856 A share 345473856
GAOLING FUNDL.P. 21090219 B share 21090219
CHINA SECURITIES FINANCE CORP 15440794 A share 15440794
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 15241826 B share 15241826
SHENWAN HONGYUAN SECURITIES(HONGKONG)
LIMITED
8492763
B share
8492763
FIDELITY PURITAN TRUST: FIDELITY SERIES
INTRINSIC OPPORTUNITIES FUND
6350762
B share
6350762
GUOTAI JUNAN SECURITIES (HONGKONG)
LIMITED
5516796
B share
5516796
CENTRAL HUIJIN ASSET MANAGEMENT LTD. 4761200 A share 4761200
VANGUARD EMERGING MARKETS STOCK
INDEX FUND
3788487
B share
3788487
FIDELITY CHINA SPECIAL SITUATIONS PLC 3779202 B share 3779202
The explanation for the associated
relationship and accordant action
of the top 10 shareholders
Among the top 10 shareholders Yantai Changyu Group Company
Limited has no associated relationship or accordant action
relationship with the other 9 listed shareholders and the
relationship among the other shareholders is unknown.
Explanation for the top 10
common shareholders who
involved in financing activities
and stock trading business(if any)
No
Whether or not the Company’s top 10 common shareholders and top 10 common shareholders with
unrestricted shares promise to buy back trading during the report period
□ Yes √ No
There are no top 10 common shareholders and top 10 common shareholders with unrestricted shares
in the Company promise to buy back trading during the report period.
2) The total number of the preferred shareholders and top 10 preferred shareholders at the end of
the report period
□Available √Not available
III Major Issue
1. Situation and reason of change in major financial data and financial index during the
report period
√Available □Not available
Compared the end of the report period with the beginning of the report period: Monetary fund
increased by 14.28% mainly due to the reduce in cash outflow for investment activities and
increase in bank deposit. Notes receivable increased by 64.09% mainly due to increased amount of
bank acceptances. Advance payment decreased by 55.58% mainly due to the decrease in advance
payment for raw material procurement. Interest receivable increased by 39.65% mainly due to the
increased interest of bank term deposits. Non-current liabilities due within one year increased by
21.39% mainly due to the transfer of long-term account payable.
Compared with the same period of last year: operating revenue decreased by 7.57% which wascaused by four reasons. Firstly in order to implement the strategy of “Focus on high quality Focuson mid-to-high end and Focus on big product” the prices of low-end wines were raised at the end
of November 2018. Due to the pressure-bearing process of the market the low-end wines have
fallen sharply. Secondly due to aging of products as well as relatively concentrated markets the
low-end brandy has shown a downward trend since last year. However the growth of mid-to-high-
end brandy is not enough to make up for the decline of low-end brandy. Thirdly the sales policy of
imported wines has further focused on the acquisition brands including Kilikanoon and Indomita etc
which results in a decline in non-acquisition brands in imported wines and drags down the overall
growth of imported wines. Fourthly listed company adjusted about 20% of provincial managers
and marketing personnel in February which also had a certain impact on current indicators.
Compared with the same period of last year: sales expense decreased by 14.9% mainly due to
decrease in advertising expense. Financial expense decreased by 156.04% mainly due to offset of
financial expense by received loan with discounted interest. Net profit attributable to parent
company decreased by 4.81% mainly due to decrease in income. Net cash flow from operating
activities decreased by 41.91% mainly due to reduce in received cash of selling products and
providing service. Cash inflow from investment activities increased by 9064.93% mainly due to
increase in withdrawal of fixed term deposit. Cash outflow for investment activities decreased by
73.86% and net cash flow from investment activities increased by 79.14% mainly due to the reduce
in the cash paid for purchasing fixed term deposit. Net increase in cash and cash equivalents
increased by 24149.03% mainly due to reduce in cash outflow for investment activities.
2. Analysis explanation of major issue’s process influence and solution
□Available √ Not available
Implementation progress of share repurchase
□Available √ Not available
Implementation progress of reducing or repurchasing shares by the way of centralized bidding
□Available √ Not available
3. The commitments that the Company’s actual controllers shareholders related parties
purchasers the Company and other related parties do not implement completely
exceeding the time limit within report period
√Available □Not available
Commitments
Commitment
Party
Commitment
Type
Commitment
content
Commitment
time
Commitment
period
Implementation
Commitments at
share reform
-
－
Commitments
made in
acquisition
report or equity
changes report
-
- - -
Commitments at
asset
restructuring
-
- - -
Commitments at
the initial public
offering or
refinancing
Yantai
Changyu
Group Co.Ltd.Solve
horizontal
competition
Non-horizontal
competition
1997.05.18 Permanent
Has been
fulfilling the
commitment
Yantai
Changyu
Group Co.Ltd.
Define the
use of
trademark use
fee
According to
Trademark
License
Contract the
annual
trademark use
fee of
trademarksincluding “ 张裕 ” (Changyu)
paid by the
Company to
Yantai Changyu
Group Co. Ltd.should be
mainly used by
Yantai Changyu
Group Co. Ltd.to publicize
trademarks
1997.05.18 Permanent
According to
Trademark
License
Contract the
annual
trademark use
fee charged by
Yantai Changyu
Group Co. Ltd.should be
mainly used to
publicize
trademarksincluding “ 张裕 ” (Changyu)
and contractual
products. Except
the period from
2013 to 2017
when Yantai
including “ 张裕 ” (Changyu)
and contractual
products.
Changyu Group
Co. Ltd. didn’t
strictly fulfill the
commitment
Yantai Changyu
Group Co. Ltd.has been
fulfilling the
commitment.
Equity incentive
commitments
Commitments
made to the
minority
shareholders of
the Company
-
- - -
Commitment
under timely
implementation
or not
No
For commitments that exceed
the time limit and are not
completed specific reasons of
not completing the
implementation and the next
step
According to Trademark License Contract (hereafter referred to as “this
Contract”) Changyu Group promised that the annual trademark use fee paid
by the Company to Changyu Group would be mainly used by Changyu Group
to publicize these trademarks and contractual products. However the above-
mentioned "mainly" is not a specific number. During the implementation
process due to inconsistent understanding it is easy to cause divergence and
leads to problems.
Changyu Group totally charged trademark use fee of CNY420883902 from
2013 to 2017. Based on this Contract the amount (51% of trademark use fee)
used for publicity of trademarks including “张裕” (Changyu) and contractual
products involved in this Contract should be CNY214650790 compared to
which the amount that has already been used for publicity of trademarks
including “张裕” (Changyu) and contractual products involved in this
Contract is CNY50025181 with a balance of CNY164625609. In addition
Changyu Group totally charged 2017 annual and 2018 annual trademark use
fee of CNY155623907 in 2018 and 2019. Based on This Contract the
amount (51% of trademark use fee) used for publicity of trademarks including
“张裕” (Changyu) and contractual products involved in this Contract should
be CNY79368193 compared to which the amount that has already been
used for publicity of trademarks including “张裕” (Changyu) and contractual
products involved in This Contract is CNY12225187 with a balance of
CNY67143006.
From 2013 to now the total balance of trademark use fee used for publicity of
trademarks including “张裕” (Changyu) and contractual products involved in
this Contract is CNY231768615.
Changyu Group promised that Changyu Group would use the trademark use
fee that would be charged for 2019 annual to 2022 annual to offset above-
mentioned total balance. If it is not enough the insufficient amount will be
complemented for one time in 2023; if it is sufficient Changyu Group will
begin to charge the excess trademark use fee from the year when there
generates excess trademark use fee.
If Changyu Group is not able to implement the above-mentioned commitment owing
to various reasons the Company will timely supervise and urge Changyu Group to
fulfill its commitment and request Changyu Group to raise funds through bank
loaning assets sales and equity sales etc in order to implement the commitment.
For detailed information please refer to the Company’s Announcement of
Commitment Issues of Yantai Changyu Group Co. Ltd disclosed on April 4
th
2019.
4. Forecast on the operating performance in the period from January to June of 2019
Warning and explanation for the estimation on the possible loss of cumulative net profit in the
period from the beginning of this year to the end of the next report period or the great change
comparing with same period of last year.
□Available √ Not available
5. Situation of security investment
□Available √ Not available
There is no security investment during the report period.
6. Situation of derivative investment
□Available √ Not available
There is no derivative investment during the report period.
7. The activities registration form of receptions communication and interview etc. during the
report period
□Available √ Not available
There are no activities of receptions communication and interview etc. during the report period.
8. Situation of illegal external guarantee
□Available √ Not available
There is no illegal external guarantee during the report period.
9. Situation of non-operating fund occupation of controlling shareholders and related parties
□Available √ Not available
There is no non-operating fund occupation of controlling shareholders and related parties during the
report period.
Ⅳ Financial Statements
1. Financial statements
1) Consolidated balance sheet
Preparation Unit: Yantai Changyu Pioneer Wine Co. Ltd. Unit: CNY
Item March 31
st
2019 December 31
st
2018
Current assets：
Monetary fund 1686467643 1475700477
Settlement funds
Trading financial assets
Financial assets which are measured by fair value
and which changes are recorded in current profit
and loss
Derivative financial liability
Notes receivable and accounts receivable 712241039 530821071
Including: Notes receivable 473671893 288667988
Accounts receivable 238569146 242153083
Advance payment 1874421 4219949
Insurance premiums receivable
Provision of cession receivable
Other receivable 21954602 22636086
Including: Interests receivable 1861068 1332681
Dividends receivable
Inventories 2562649190 2724591457
Assets held for sale
Non-current assets due within one year
Other current assets 277964944 258676396
Total current assets 5263151839 5016645436
Non-current assets：
Financial assets for sale
467251
Investment held to expiration
Long-term account receivable
Long-term equity investment
Real estate for investment 31183889 31572489
Fixed assets 5735574387 5749731667
Construction in progress 765770394 759296591
Biological assets for production 207109664 209266373
Oil and gas assets
Intangible assets 649996533 655473459
Development expenditure
Goodwill 165199111 165199111
Long-term deferred expenses 276110331 244640416
Assets of deferred income tax 222801549 285436259
Other non-current assets 453642
Total non-current assets 8054199500 8101083616
Total assets 13317351339 13117729052
Current liabilities:
Short-term loan 676078947 688002410
Financial liabilities which are measured by fair
value and which changes are recorded in current
profit and loss
Derivative financial liability
Notes payable and accounts payable 595555189 713572881
Advance money 232110538 226075244
Wage payable 171926352 212304217
Tax payable 100575817 128912790
Other accounts payable 530951517 608479890
Including: Interests payable 2017538 712826
Dividends payable
Liabilities held for sale
Non-current liabilities due within one year 185654332 152940788
Other current liabilities 14545254 15860254
Total current liabilities 2507397946 2746148474
Non-current liabilities：
Long-term loan 172989751 156480662
Bond payable
Including: Preferred stock
Perpetual capital securities
Long-term accounts payable 203000000 225000000
Long-term wages payable
Special accounts payable
Deferred income 67915609 70367039
Liabilities of deferred income tax 21290654 22010647
Other non-current liabilities 7234853 7234853
Total non-current liabilities 472430867 481093201
Total liabilities 2979828813 3227241675
Shareholder rights and interests：
Share capital 685464000 685464000
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital reserve 565955441 565955441
Less: Inventory shares
Other comprehensive Income -4320704 2965377
Reasonable reserve
Surplus reserve 342732000 342732000
Retained profit 8465364018 8008982547
Total owner’s equity attributable to parent company 10055194755 9606099365
Minority interests 282327771 284388012
Total owner's equity 10337522526 9890487377
Total liabilities and owner's equity 13317351339 13117729052
Legal representative: Zhou Hongjiang Person in charge of accounting: Jiang Jianxun Person in charge of accounting organ: Jiang
Jianxun
) Balance sheet of parent company
Unit: CNY
Item March 31
st
2019 December 31
st
2018
Current assets：
Monetary fund 898617027 624588809
Financial assets which are measured by fair value
and which changes are recorded in current profit and
loss
Derivative financial liability
Notes receivable and accounts receivable 53248347 41333227
Including: Notes receivable 52028187 39885254
Accounts receivable 1220160 1447973
Advance money 121922 227
Other receivable 529375393 1025643356
Including: Interests receivable 506337 254088
Dividends receivable 152136162 500000000
Inventories 450274793 385154740
Assets held for sale
Non-current assets due within one year
Other current assets 28853540 24704844
Total current assets 1960491022 2101425203
Non-current assets：
Financial assets for sale
Investment held to expiration
Long-term account receivable
Long-term equity investment 7420803068 7420803069
Real estate for investment 31183889 31572489
fixed assets 265196149 265311274
Construction in progress 7129202 6311701
Biological assets for production 123016068 125002793
Oil and gas assets
Intangible assets 66649278 67244066
Development expenditure
Goodwill
Long-term deferred expenses
Assets of deferred income tax 20799602 24194967
Other non-current assets 985700000 972700000
Total non-current assets 8920477256 8913140359
Total assets 10880968278 11014565562
Current liabilities:
Short-term loan 150000000 150000000
Financial liabilities which are measured by fair
value and which changes are recorded in current
profit and loss
Derivative financial liability
Notes payable and accounts payable 102401642 132704304
Advance money
Wage payable 62212233 72345179
Tax payable 2552051 13111431
Other accounts payable 522292133 607974519
Including: Interests payable 181250 181250
Dividends payable
Liabilities held for sale
Non-current liabilities due within one year
Other current liabilities 3433054 3433054
Total current liabilities 842891113 979568487
Non-current liabilities：
Long-term loan -
Bond payable
Including: Preferred stock
Perpetual capital securities
Long-term accounts payable
Long-term wages payable
Special accounts payable
Deferred income 8318053 8910918
Liabilities of deferred income tax
Other non-current liabilities 2710575 2710575
Total non-current liabilities 11028628 11621493
Total liabilities 853919741 991189980
Shareholder rights and interests：
Share capital 685464000 685464000
Other equity instrument
Including: Preferred stock
Perpetual capital securities
Capital reserve 557222454 557222454
Less: Inventory shares
Other comprehensive Income
Reasonable reserve
Surplus reserve 342732000 342732000
Retained profit 8441630083 8437957128
Total owner's equity 10027048537 10023375582
Total liabilities and owner's equity 10880968278 11014565562
) Consolidated profit statement
Unit: CNY
Item
Amount incurred in current
period
Amount incurred in
previous period
1. Revenue 1667424758 1804057976
Including: Operating income 1667424758 1804057976
Interest income
Earned premium
Handling fees and commission income
2. Total operating costs 1061511440 1184474700
Including: Operating costs 601688193 625431208
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 67002049 101766053
Selling expenses 318512447 374283098
Administrative expenses 81023493 80493010
Research and development expenditure 990219 1120457
Financial expenses -2640255 4711493
Including: Interest expenses 1827791 6578902
Interest income 2420094 2272889
Loss for impairment of assets -5064706 -3330619
Loss of credit impairment
Plus: Other income 6172178 16861473
Investment profit (loss is listed with "-")
Including: Investment profit for joint-run
business and joint venture
Net exposure hedging income (Loss islisted with
“-”)
Fair value charge profit (loss is listed with "-")
Assets disposal income (loss is listed with "-") 1138 84719
Exchange income (loss is listed with "-")
3. Operating profit (loss is listed with "-") 612086634 636529468
Plus: Non-operating income 1262992 936426
Minus: Non-operating expenditure 3429 411037
4. Total profits (total loss is listed with "-") 613346197 637054857
Minus: Income taxes 157428397 158539458
5. Net profit (net loss is listed with "-") 455917800 478515399
（一）Classification by continuous operation
1.Net profit from continuous operation(net loss is listed
with "-")
455917800 478515399
2.Net profit from terminational operation(net loss is listed
with "-")
(二)Classification by ownership
1. Minority interests -463671 -928839
2.Net profits attribute to equity holders of the company 456381471 479444238
6. Net value of other comprehensive income after tax -8882651 -6819043
6.1 Net value of other comprehensive income after tax of
holding company's owners
-7286081 -5547374
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 profit and loss
-7286081 -5547374
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 gain/loss of fair value changes for available-for-
sale financial assets
6.1.2.4 Amount of financial assets re-classify to other
comprehensive income
6.1.2.5 Gain/loss of held-to-maturity investments that re-
classify to ailable-for-sale financial asset
6.1.2.6 Credit impairment provision for other debt
investment
6.1.2.7 Cash flow hedging reserve
6.1.2.8 Translation differences arising on translation of
foreign currency financial statements
-7286081 -5547374
6.1.2.9 Other
6.2 Net value of other comprehensive income after tax
of minority shareholders
-1596570 -1271669
7.Total comprehensive Income 447035149 471696356
Total comprehensive income of holding company 449095390 473896864
Total comprehensive income of minority shareholders -2060241 -2200508
8. Earnings per share
8.1 Basic earnings per share 0.67 0.70
8.2 Diluted earnings per share 0.67 0.70
During this report period the issue relates to company consolidation under common control consolidated party completes net profit
amount of CNY 0 before being consolidated and consolidated party completes net profit amount of CNY 0 in the same period of last
year.Legal representative: Zhou Hongjiang Person in charge of accounting: Jiang Jianxun Person in charge of accounting organ: Jiang
Jianxun
) Profit statement of parent company
Unit: CNY
Item
Amount incurred in current
period
Amount incurred in previous
period
1. Revenue 242003808 262548732
Minus: Operating costs 213607081 223847815
Taxes and surcharges 8712074 14257566
Selling expenses
Administrative expenses 20122062 20301162
Research and development expenditure 219892 208742
Financial expenses -4343667 5548315
Including: Interest expenses -4311896 5872648
Interest income 489663 975383
Loss for impairment of assets
Loss of credit impairment
Plus: Other income 858264 1059414
Investment profit (loss is listed with "-") 20000000
Including: Investment profit for joint-run
business and joint venture
Net exposure hedging income (Loss
islisted with “-”)
Fair value charge profit (loss is listed with
"-")
Assets disposal income (loss is listed with
"-")
75000
2. Operating profit (loss is listed with "-") 4544630 19519546
Plus: Non-operating income 539265 47479
Minus: Non-operating expenses
3. Total profits (total loss is listed with "-") 5083895 19567025
Minus: Income tax 1410940 23498
4. Net profit (net loss is listed with "-") 3672955 19543527
1.Net profit from continuous operation(net loss is
listed with "-")
3672955 19543527
2.Net profit from terminational operation(net loss is
listed with "-")
5. Net value of other comprehensive income after
tax
5.1 Other comprehensive income that will not be
classified into the profit and loss
5.1.1 Remeasure the changes in net assets or
liabilities
of defined benefit plans
5.1.2 Shares of other comprehensive income from
investee which cannot be reclassified into
profit
and loss under the equity method
5.1.3 Change of fair value of investment in other
equity instrument
5.1.4 Fair value change of enterprise's credit risk
5.1.5 Other
5.2 Other comprehensive income that will be
classified
into the profit and loss
5.2.1 Other comprehensive income under equity
method that can transfer to gain/loss
5.2.2 Change of fair value of other debt investment
5.2.3 gain/loss of fair value changes for available-
for-sale financial assets
5.2.4 Amount of financial assets re-classify to other
comprehensive income
5.2.5 Gain/loss of held-to-maturity investments that
re-classify to ailable-for-sale financial asset
5.2.6 Credit impairment provision for other debt
investmen
5.2.7 Cash flow hedging reserve
5.2.8 Translation differences arising on translation
of foreign currency financial statements
5.2.9 Other
6. Total comprehensive income 3672955 19543527
7. Earnings per share
7.1 Basic earnings per share 0.01 0.03
7.2 Diluted earnings per share 0.01 0.03
) Consolidated cash flow statement
Unit: CNY
Item
Amount incurred in
current period
Amount incurred in
previous period
1. Cash flows from operating activities:
Cash received from sales of goods and rending of
services
1542378382 1766530391
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
Net increase in disposing of financial assets that
measured by fair value with changes recorded into
the current profit and loss
Cash received from collecting interest handling
fees and commission
Net increase in borrowings
Net increase in repurchasement business funds
Tax refund received 9948082 6890085
Other cash received related to operating activities 11283776 18289974
Sub-total of cash inflows of operating activities 1563610240 1791710450
Cash paid for goods and services 461343969 418799244
Net increase in customer loans and advances
Net increase in deposits in central bank and
interbank deposits
Cash paid to original insurance contract payments
Cash paid to interest handling fees and
commission
Cash paid to policy bonus
Cash paid to and on behalf of employees 162305720 152403775
Cash paid for taxes and expenses 401268381 486679596
Other cash paid related to operating activities 244013828 226563871
Sub-total of cash outflows of operating activities 1268931898 1284446486
Net cash flow from operating activities 294678342 507263964
2. Cash flow from investing activities:
Cash received from return of investment 0
Cash received from return of fixed deposit 26755750
Cash received from obtaining investment profit
Cash received from interest income 484857 35723
Cash received from disposal of fixed assets
intangible assets and other long-term assets
21379 261737
Net cash received from disposal of branch and other
business unit
Other cash received related to investing activities
Subtotal of cash inflows of investment activities 27261986 297460
Cash paid to acquire fixed assets intangible assets and
other long-term assets
114280901 110862244
Cash for investments
Cash paid for fixed deposit 20458100 300000000
Net cash received from disposal of branch and other
business unit
Net cash paid to acquire branch and other business unit 104566419
Other cash paid related to investment activities
Subtotal of cash outflows of investment activities 134739001 515428663
Net cash flow from investing activities -107477015 -515131203
3. Cash flow from financing activities
Cash received from acquiring investment
Cash received from acquiring minority
shareholders' investment by branch
Cash received from acquiring loans 78214913 96644015
Cash received from issuing bonds
Other cash received related to financing activities
Sub-total cash inflows of financing activities 78214913 96644015
Cash paid to repay debts 64904847 79119513
Cash paid to distribute dividend profit or pay interest 8203612 8294731
Dividend and profit paid to minority shareholders by branch
Other cash paid related to financing activities
Sub-total of cash outflows of financing activities 73108459 87414244
Net cash flow from financing activities 5106454 9229771
4. Influences of exchange rate fluctuation on cash and
cash equivalents
-468104 -571409
5. Net Increase of cash and cash equivalents 191839677 791123
Plus: balance at the beginning of the period of cash
and cash equivalents
1206860334 1180889274
6. Balance at the end of the period of cash and cash
equivalents
1398700011 1181680397
) Cash flow statement of parent company
Unit: CNY
Item
Amount incurred in
current period
Amount incurred in
previous period
1. Cash flows from operating activities:
Cash received from sales of goods and rending of
services
171139612 156753252
Tax refund received
Other cash received related to operating activities 13968773 42356221
Sub-total of cash inflows of operating activities 185108385 199109473
Cash paid for goods and services 115043734 83858780
Cash paid to and on behalf of employees 28667432 35076108
Cash paid for taxes and expenses 17016423 27242412
Other cash paid related to operating activities 75568493 13004908
Sub-total of cash outflows of operating activities 236296082 159182208
Net cash flow from operating activities -51187697 39927265
2. Cash flow from investing activities:
Cash received from return of investment
Fixed deposit with the term of over 3 months
Cash received from obtaining investment profit 347863838 140000000
Cash received from interest income 35723
Cash received from disposal of fixed assets
intangible assets and other long-term assets
538055
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 347863838 140573778
Cash paid to acquire fixed assets intangible asset
and other long-term assets
8209927 8617593
Cash for investments 13000000 105926184
Cash paid to acquire fixed deposit 12200000 300000000
Net cash paid to acquire branch and other
busines unit
Other cash paid related to investment activities
Subtotal of cash outflows of investment activities 33409927 414543777
Net cash flow from investing activities 314453911 -273969999
3. Cash flow from financing activities
Cash received from acquiring investment
Cash received from acquiring loans
Cash received from issuing bonds
Other cash received related to financing activities
Sub-total cash inflows of financing activities
Cash paid to repay debts
Cash paid to distribute dividend profit or pay
interest
1631250 5872500
Other cash paid related to financing activities
Sub-total of cash outflows of financing activities 1631250 5872500
Net cash flow from financing activities -1631250 -5872500
4. Influences of exchange rate fluctuation on cash
and cash equivalents
. Net Increase of cash and cash equivalents 261634964 -239915234
Plus: balance at the beginning of the period of
cash and cash equivalents
532384882 493568866
6. Balance at the end of the period of cash and cash equivalents 794019846 253653632
2. Notes on financial statement adjustments
1) Relevant situations of adjustment in financial statement at the beginning of the year when
the new financial instrument standards new income standards and new lease standards are
first implemented
□Available ?Not available
2) Explanation on retrospective adjustments in the previous comparison data for the first
implementation of new financial instrument standards and new lease standards
□Available ?Not available
3. Audit report
Whether the first quarter report has been audited.□Yes √No
The first quarter report has not been audited.Yantai Changyu Pioneer Wine Co. Ltd.
Board of Directors
April 27
th
2019
