张裕Ｂ：2021年第一季度报告正文（英文版）

Shares Code: 000869 200869 Stock Abbreviation: Changyu A Changyu B Notice No.: Final 2021-02

Yantai Changyu Pioneer Wine Co. Ltd.

2021 First Quarter Report Main Body

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) Mr. Jiang Jianxun (person in charge

of accounting work) and Ms. Guo Cuimei (person in charge of accounting institution 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 needs to make retroactive adjustments or restate the accounting data of

previous fiscal years.□Yes ?No

This report period

The same period of

last year

More or less than the same

period of last year (%)

Operating revenue (CNY) 1134006251 805715048 40.75%

Net profit attributed to the

shareholders of the listed

company (CNY)

286745340 234499910 22.28%

Net profit attributed to the

shareholders of the listed

company after deducting the

irregular profit and loss (CNY)

280760222 225980141 24.24%

Net cash flows from the

operating activities (CNY)

314895523 -118493699 not available

Basic earnings per share

(CNY)

0.42 0.34 23.53%

Diluted earnings per share

(CNY)

0.42 0.34 23.53%

Weighted average for earning

rate of the net assets

2.75% 2.23% 0.52%

The end of this

report period

The end of last year

More or less than the end

of last year (%)

Total assets (CNY) 13456572813 13102481541 2.70%

Net Assets attributed to the

shareholders of the listed

company (CNY)

10539609394 10267832644 2.65%

Details of non-recurring gains and losses

?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)

-6232

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)

6454025

Other non-operating income and expenses 1395626

Less: Income tax effect 1839989

Minority interests effect (after-tax) 18312

Total 5985118 --

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

53529

Total number of preferred shareholders with recovered

voting power at the end of report period (if have)

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 — —

GAOLING FUND L.P. Foreign legal person 3.08% 21090219 0 — —

CHINA SECURITIES FINANCE CORP

State-owned legal

person

1.75% 11966365 0 — —

BBH BOS S/A FIDELITY FD - CHINA

FOCUS FD

Foreign legal person

1.61% 11015226 0 — —

SHENWAN HONGYUAN SECURITIES

(HONGKONG) LIMITED

Foreign legal person

1.06% 7284152 0 — —

FIDELITY PURITAN TRUST: FIDELITY

SERIES INTRINSIC OPPORTUNITIES

FUND

Foreign legal person

0.93% 6350762 0 — —

GUOTAI JUNAN SECURITIES

(HONGKONG) LIMITED

Foreign legal person

0.78% 5335545 0 — —

Haitong International Securities Company

Limited-Account Client

Foreign legal person

0.70% 4789387 0 — —

CENTRAL HUIJIN ASSET

MANAGEMENT LTD.

State-owned legal

person

0.69% 4761200 0 — —

China Merchants Securities (HK) Co. Ltd. Foreign legal person 0.63% 4284707 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 FUND L.P. 21090219 B share 21090219

CHINA SECURITIES FINANCE CORP 11966365 A share 11966365

BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 11015226 B share 11015226

SHENWAN HONGYUAN SECURITIES(HONGKONG) LIMITED 7284152 B share 7284152

FIDELITY PURITAN TRUST: FIDELITY SERIES INTRINSIC

OPPORTUNITIES FUND

6350762 B share 6350762

GUOTAI JUNAN SECURITIES(HONGKONG) LIMITED 5335545 B share 5335545

Haitong International Securities Company Limited-Account Client 4789387 B share 4789387

CENTRAL HUIJIN ASSET MANAGEMENT LTD. 4761200 A share 4761200

China Merchants Securities (HK) Co. Ltd. 4284707 B share 4284707

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)

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 table of the total number of the preferred shareholders and the shareholding status of the top 10 preferred shareholders

□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 with the beginning of the report period at the end of the report period in the

consolidated balance sheet monetary fund increased by 19.58% mainly due to the receipt of

monetary funds for sales of products during the report period; receivables financing increased by

21.55% mainly due to the receipt of notes receivables from sales of products during the report

period; accounts prepaid decreased by 66.89% mainly due to the completion of procedure and

settlement for the amount prepaid for raw materials at the beginning of the report period; non-

current liabilities due within one year decreased by 33.67% mainly due to the repayment of due

long-term bank loan during the report period.

Compared with the same period of last year in the consolidated profit statement during the report

period: operating income increased by 40.75% operating costs increased by 51.55% taxes and

surcharges increased by 45.50% net profit increased by 21.70% mainly due to the increase in

product sales during the report period; selling expenses increased by 79.84% mainly due to the

Company's increased marketing investment; financial expenses increased by 58.18% mainly due to

the implementation of the new lease standards in 2021that the amortization of financing expenses

was included in financial expenses.

Compared with the same period of last year in the consolidated cash flow statement during the

report period: cash received from sales of goods and rending of services increased by 44.02%

mainly due to the increase in monetary funds received from sales of products during the report

period; other cash paid related to operating activities increased by 49.85% mainly due to the

increase in cash paid for marketing investment; cash received from acquiring loans decreased by

97.29% mainly due to a decrease in obtained bank loan; cash paid to repay debt decreased by

80.79% mainly due to the decrease in the cash used for the repayment of bank loan; the cash and

cash equivalents increased significantly (from negative to positive) mainly due to the increase in

cash received from sales of products during the report period.

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 trademarks including “张裕”

(Changyu) paid by the Company to

Yantai Changyu Group Co. Ltd.should be mainly used by Yantai

Changyu Group Co. Ltd. topublicize trademarks including “张

1997.05.18

2019.04.04

According to Trademark License

Contract the annual trademark use fee

charged by Yantai Changyu Group Co.Ltd.should be mainly used to publicize

trademarks including “张裕” (Changyu)

and contractual products. Except the

period from 2013 to 2017 when Yantai

Changyu Group Co. Ltd. Didn’t strictly

裕” (Changyu) and contractual

products.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

Yantai

Changyu

Group Co.Ltd.

Compensating

unredeemed

commitment

The CNY231768615 that was not

used for publicity of trademarks

and contract products as promised

will be offset by the four-year

trademark use fee from 2019 to

2022. If insufficient the shortfall

would be filled in one time in 2023.If there is any excess the excess

portion of the trademark use fee

would be collected from the year

with excess occurrence.

2019.04.04

2023.12.31

Has been fulfilling the commitment

Commitment under

timely

implementation or not

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.

From 2013 to 2017 Changyu Group collected a total of CNY420883902 trademark use fee of which 51% was used to

publicize trademarks including Changyu and contract products with amount of CNY214650790. The amount has been

used to publicize trademarks including Changyu and contract products is CNY50025181 with a balance of

CNY164625609. In 2018 and 2019 the trademark use fee collected of 2017 and 2018 is CNY155623907 of which 51%

is used to publicize trademarks including Changyu and contract products with amount of CNY79368193. The amount has

been used to publicize trademarks including Changyu and contract products is CNY12225187 with a balance of

CNY67143006. From 2013 to 2018 the accumulated balance of Changyu Group using to publicize trademarks including

Changyu and contract products is CNY231768615. The above balance that was not used for publicity of trademarks and

contract products as promised will be offset by the four-year trademark use fee from 2019 to 2022. If insufficient the

shortfall would be filled in one time in 2023. If there is any excess the excess portion of the trademark use fee would be

collected from the year with excess occurrence.

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 Announcement of Commitment Issues of Yantai Changyu Group Co. Ltd. disclosed

on April 4

2019.

4. Investment in financial assets

1) Situation of security investment

□Available ?Not available

There is no security investment during the report period.

2) Situation of derivative investment

□Available ?Not available

There is no derivative investment during the report period.

5. Progress of investment projects with raised funds

□Available ?Not available

6. Forecast of business performance from January to June of 2021

A warning and reason explanation for predicting that the cumulative net profit from the beginning of the year to the end of the next report period

may be a loss or there will be a significant change compared with the same period of previous year

□Available ?Not available

7. Major contracts during daily operations

□Available ?Not available

8. Entrusted Investment

□Available ?Not available

There is no entrusted investment during the report period.

9. Situation of illegal external guarantee

□Available ?Not available

There is no illegal external guarantee during the report period.

10. 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.

11. 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.Yantai Changyu Pioneer Wine Co. Ltd.

Board of Directors

April 29

2021

行情