Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
Stock Code: 000869 200869 Stock Abbreviation: Changyu A Changyu B Announcement No.: 2024-Final02
Yantai Changyu Pioneer Wine Co. Ltd.2024 First Quarter Report
This company and all board members guarantee the truthfulness accuracy and completeness of
disclosed contents as well as no unfaithful facts misleading statements or significant omissions.Important Notice
1. 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.
2. The person in charge of the Company the person in charge of accounting work and the person in
charge of accounting institution (person in charge of accounting) declare to assure the truthfulness
accuracy and completeness of the financial information in this quarter report.
3. Whether the First Quarter Report has been audited
□Yes □No
1Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
1. Major Financial Data
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
More or less than the same
This report period The same period of last year
period of last year (%)
Operating revenue (CNY) 810827748 1131459036 -28.34%
Net profit attributed to the shareholders
158946802276778987-42.57%
of the listed company (CNY)
Net profit attributed to the shareholders
of the listed company after deducting 154033406 267069409 -42.32%
the non-recurring profit and loss (CNY)
Net cash flows from the operating
-65346151333578090-119.59%
activities (CNY)
Basic earnings per share (CNY) 0.23 0.40 -42.50%
Diluted earnings per share (CNY) 0.23 0.40 -42.50%
Weighted average for earning rate of the
1.46%2.58%-1.12%
net assets
The end of this report More or less than the end of
The end of last year
period last year (%)
Total assets (CNY) 12887332951 13336267204 -3.37%
Owners’ equity attributed to the
shareholders of the listed company 11001428198 10841500988 1.48%
(CNY)
2) Item and amount of non-recurring profit and loss
□Available □Not available
Unit：CNY
Item Amount in this report period Explanation
Gains and losses on disposal of non-current assets (including the write-off
-19227
part of the provision for impairment of assets)
Government grants credited in profit and loss (except for those
continuously-enjoyed normed or quantitative government grants that are
6009938
closely related to the entity’s normal operation in line with national policy
and regulation and based on certain criteria)
Other non-operating income and expenses except for the above items 549821
Less: Income tax effect 1600851
Minority interests effect (after-tax) 26285
Total 4913396 --
2Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
Details of other profit and loss items in line with the identification of non-recurring profit and loss
□Available □Not available
There are no existed details of other profit and loss items in line with the identification of
non-recurring profit and loss
Explanation for situation that non-recurring profit and loss items are defined as recurrent profit and
loss items in accordance with 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 items are defined as recurrent profit and loss
items in accordance with the Explanatory Announcement on Public Company’s Information
Disclosure No.1 - Non-recurring Profit and Loss.
3) Situation and reason for the change in key accounting data and financial indicators
□Available □Not available
Unit: CNY
Increase/
Items Ending balance Beginning Balance Cause of Change
Decrease %
Due to the acceptance of bank acceptance at
Note receivable 50000 1260000 -96.03%
maturity
Account receivable 264099704 382132334 -30.89% Due to scheduled collection of receivables
Construction in Due to the increased investment in
5345475332324160.85%
progress engineering projects
Due to the payment to suppliers in
Account payable 352528146 473352525 -25.53% accordance with the account period
management
Tax payable 137938410 274723431 -49.79% Due to the decline in operating income
Due to the payment of advertising expenses
Other payables 361608582 555634336 -34.92%
as agreed in the contract
Other current Due to the decrease in expected sales
2338133144958297-47.99%
liabilities refunds
Other
Due to differences in the conversion of
comprehensive -28391263 -14784677 -92.03%
foreign currency statements
income
Current Amount incurred in Increase/
Items Cause of Change
amount the previous period Decrease%
Operating income 810827748 1131459036 -28.34% Due to declining sales
Operating cost 330998172 466781126 -29.09% Due to declining sales
3Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
Due to the year-on-year decrease in
Selling expense 144836639 204946919 -29.33%
marketing expenses
Financial expense 4818490 -3107791 Not available Due to exchange loss
Total profit 221158008 356971493 -38.05% Due to the decline in operating income
Net profit 160368729 263108475 -39.05% Due to the decline in operating income
Cash received from
the sale of goods 884812693 1219265629 -27.43% Due to the decline in operating income
and services
Subtotal of cash
inflows from 903718315 1257599498 -28.14% Due to the decline in operating income
operating activities
Net cash flow from
-65346151 333578090 -119.59% Due to the decline in operating income
operating activities
Subtotal cash of
Due to the increase in time deposits during
outflow from 267739068 39992161 569.48%
the period
investment activities
Net cash flow from Due to the increase in time deposits during
-267715068-38562161-594.24%
investment activities the period
4Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
2. Information of shareholders
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 Total number of preferred shareholders with recovered voting
473940
period power at the end of report period (if have)
Shareholding of top 10 shareholders
Percentage Number of Pledged or frozen
Name of Shareholders Character of shareholders Shares held
(%) restricted shares Share status Amount
Domestic non-state-owned
YANTAI CHANGYU GROUP CO. LTD. 49.91% 345473856 0 — 0
legal person
SHENWAN HONGYUAN SECURITIES
Foreign legal person 1.31% 9061352 0 — 0
(HONGKONG) LIMITED
GUOTAI JUNAN SECURITIES (HONG KONG)
Foreign legal person 0.99% 6861570 0 — 0
LIMITED
#JIANG Fengdi Domestic natural person 0.77% 5307000 0 — 0
GAOLING FUNDL.P. Foreign legal person 0.60% 4178582 0 — 0
HONG KONG SECURITIES CLEARING
Foreign legal person 0.58% 4047296 0 — 0
COMPANY LIMITED
VANGUARD EMERGING MARKETS STOCK
Foreign legal person 0.51% 3556652 0 — 0
INDEX FUND
VANGUARD TOTAL INTERNATIONAL STOCK
Foreign legal person 0.50% 3483537 0 — 0
INDEX FUND
LI Gang Domestic natural person 0.43% 2990000 0 — 0
Haitong International Securities Company
Foreign legal person 0.43% 2961494 0 — 0
Limited-Account Client
Shareholding of top 10 shareholders with unrestricted shares
Type of share
Name of Shareholders Number of unrestricted shares held
Type of share Amount
5Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
YANTAI CHANGYU GROUP CO. LTD. 345473856 A share 345473856
SHENWAN HONGYUAN SECURITIES (HONGKONG) LIMITED 9061352 B share 9061352
GUOTAI JUNAN SECURITIES (HONG KONG) LIMITED 6861570 B share 6861570
#JIANG Fengdi 5307000 A share 5307000
GAOLING FUNDL.P. 4178582 B share 4178582
HONG KONG SECURITIES CLEARING COMPANY LIMITED 4047296 B share 4047296
VANGUARD EMERGING MARKETS STOCK INDEX FUND 3556652 B share 3556652
VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 3483537 B share 3483537
LI Gang 2990000 A share 2990000
Haitong International Securities Company Limited-Account Client 2961494 B share 2961494
Among the top 10 shareholders Yantai Changyu Group Company Limited has no associated
The explanation for the associated relationship and accordant action of the top 10
relationship or accordant action relationship with the other 9 listed shareholders and the relationship
shareholders
among the other shareholders is unknown.Explanation for the top 10 common shareholders who involved in financing
None
activities and stock trading business(if any)
Shareholders holding more than 5% the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares participate in the
refinancing business to lend shares
□Available □Not available
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed from the previous period due to refinancing
lending/restitution reasons
□Available □Not available
2) The table of the total number of the preferred shareholders and the shareholding status of the top 10 preferred shareholders
□Available □Not available
3. Other Important Issues
□Available □Not available
6Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
4. Quarterly Financial Statements
1) Financial statements
* Consolidated balance sheet
Yantai Changyu Pioneer Wine Co. Ltd.Unit: CNY
Item Ending balance Beginning balance
Current Assets：
Monetary fund 2060037948.00 2217693647.00
Petty cash
Lending funds
Transactional financial assets
Derivative financial assets
Notes receivable 50000.00 1260000.00
Accounts receivable 264099704.00 382132334.00
Receivables Financing 367258662.00 408316028.00
Accounts prepaid 63977903.00 61497933.00
Premiums receivable
Reinsurance accounts receivable
Receivable reserves for reinsurance contract
Other receivables 79570946.00 71496276.00
Including: Interest receivable
Dividends receivable
Buying back the sale of financial assets
Inventory 2728748977.00 2765390587.00
Including: data resource
Contract assets
Assets classified as holding for sale
Non-current assets expire in one year
Other current assets 75250224.00 88368542.00
Total Current Assets 5638994364.00 5996155347.00
Non-current Assets：
Offering loans and imprest
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 37711039.00 38285620.00
Investment in other equity instrument
Other non-current financial assets
Real estate for investment 23644059.00 24482831.00
Fixed assets 5733463389.00 5795082569.00
Construction in progress 5345475.00 3323241.00
Biological assets for production 174015293.00 177461983.00
7Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
Oil and gas assets
Right-of-use assets 116207647.00 121745910.00
Intangible assets 538792181.00 542625776.00
Including: data resource
Development expenditure
Including: data resource
Goodwill 107163616.00 107163616.00
Long-term deferred expenses 310629279.00 306662107.00
Deferred tax assets 199606609.00 221518204.00
Other non-current assets 1760000.00 1760000.00
Total Non-Current Assets 7248338587.00 7340111857.00
Total Assets 12887332951.00 13336267204.00
Current liabilities：
Short-term loan 304592794.00 364981445.00
Borrowings from the Central Bank
Borrowing funds
Transactional financial liability
Derivative financial liabilities
Notes payable
Accounts payable 352528146.00 473352525.00
Advances from customers
Contract liabilities 159172328.00 175278849.00
Sales/buyback financial assets
Customer and interbank deposits
Acting trading securities
Acting underwriting securities
Wage payable 135898396.00 185331292.00
Tax payable 137938410.00 274723431.00
Other accounts payable 361608582.00 555634336.00
Including: Interest payable
Dividend payable
Payable handling fees and commission
Dividend payable for reinsurance
Liabilities classified as holding for sale
Non-current liabilities expire in one year 87490788.00 78523993.00
Other current liabilities 23381331.00 44958297.00
Total Current Liabilities 1562610775.00 2152784168.00
Non-Current Liabilities:
Insurance contract reserve
Long-term borrowings 54290755.00 66616443.00
Bonds payable
Including: Preferred Stock
Perpetual capital securities
8Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
Lease liability 81637285.00 85038335.00
Long-term accounts payable
Long-term accrued payroll
Estimated liabilities
Deferred income 31125737.00 32582734.00
Deferred tax liabilities 8540951.00 8719729.00
Other non-current liabilities
Total non-current liabilities 175594728.00 192957241.00
Total liabilities 1738205503.00 2345741409.00
Owner’s equity (or shareholders’ equity):
Capital stock 692249559.00 692249559.00
Other equity instruments
Including: Preferred Stock
Perpetual capital securities
Capital reserve 665673701.00 651086707.00
Minus: treasury stock 103411919.00 103411919.00
Other comprehensive income -28391263.00 -14784677.00
Special reserves
Surplus reserve 342732000.00 342732000.00
General risk preparation
Undistributed profits 9432576120.00 9273629318.00
Total owner's equity attributable to the holding
11001428198.0010841500988.00
company
Minority interests 147699250.00 149024807.00
Total owner's equity 11149127448.00 10990525795.00
Total liabilities and owner's equity 12887332951.00 13336267204.00
Legal representative: Zhou Hongjiang; Person in charge of accounting : Jiang Jianxun;
Person in charge of accounting organ: Guo Cuimei
* Consolidated profit statement
Unit: CNY
Amount in this Amount in prior
Item
report period report period
1. Revenue 810827748.00 1131459036.00
Including: Operating income 810827748.00 1131459036.00
Interest income
Earned premium
Handling fees and commission income
2. Total operating costs 599571753.00 791450971.00
Including: Operating costs 330998172.00 466781126.00
Interest expenditure
Handling fees and commission expenditure
9Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
Premium rebate
Net amount of indemnity expenditure
Net amount of insurance contract reserve fund
withdrawal
Policy bonus payment
Amortized reinsurance expenditures
Taxes and surcharges 49453641.00 52900085.00
Selling expenses 144836639.00 204946919.00
Administrative expenses 64960127.00 66251735.00
Research and development expenditure 4504684.00 3678897.00
Financial expenses 4818490.00 -3107791.00
Including: Interest expenses 6522317.00 6667850.00
Interest income 1335289.00 6622036.00
Plus:Other income 6009938.00 13176810.00
Investment profit (loss is listed with "-") -574580.00 -463440.00
Including: Investment profit for joint-run business and
-574580.00-463440.00
joint venture
Termination of recognized income of
financial assets measured at amortized cost (loss is listed with "-")
Exchange income (loss is listed with "-")
Net exposure hedging income (Loss is listed with “-”)
Fair value charge profit (loss is listed with "-")
Loss of credit impairment(loss is listed with "-") 3552104.00 -795483.00
Loss for impairment of assets(loss is listed with "-") 383956.00 4907824.00
Assets disposal income (loss is listed with "-") -2297.00 -762587.00
3. Operating profit (loss is listed with "-") 220625116.00 356071189.00
Plus: Non-operating income 931160.00 968921.00
Minus: Non-operating expenditure 398268.00 68617.00
4. Total profits (total loss is listed with "-") 221158008.00 356971493.00
Minus: Income taxes 60789279.00 93863018.00
5. Net profit (net loss is listed with "-") 160368729.00 263108475.00
（一）Classification by continuous operation
1.Net profit from continuous operation(net loss is listed with "-") 160368729.00 263108475.00
2.Net profit from terminational operation(net loss is listed with "-")
(二)Classification by ownership
1.Net profits attribute to equity holders of the company 158946802.00 276778987.00
2. Minority interests 1421927.00 -13670512.00
6. Net value of other comprehensive income after tax -15251415.00 3702981.00
6.1 Net value of other comprehensive income after tax of holding
-13606586.003144995.00
company's owners
6.1.1 Other comprehensive income that will not be classified into
the profit and loss
10Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
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
-13606586.003144995.00
profit and loss
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 Amount of financial assets re-classify to other
comprehensive income
6.1.2.4 Credit impairment provision for other debt investment
6.1.2.5 Cash flow hedging reserve
6.1.2.6 Translation differences arising on translation of foreign
-13606586.003144995.00
currency financial statements
6.1.2.7 Other
6.2 Net value of other comprehensive income after tax of minority
-1644829.00557986.00
shareholders
7.Total comprehensive Income 145117314.00 266811456.00
Total comprehensive income of holding company 145340216.00 279923982.00
Total comprehensive income of minority shareholders -222902.00 -13112526.00
8. Earnings per share
8.1 Basic earnings per share 0.23 0.40
8.2 Diluted earnings per share 0.23 0.40
During this report period the issue relates to company consolidation under common control
consolidated party completes net profit amount of CNY0 before being consolidated and
consolidated party completes net profit amount of CNY0 in the same period of last year.Legal representative: Zhou Hongjiang; Person in charge of accounting: Jiang Jianxun;
Person in charge of accounting organ: Guo Cuimei
* Consolidated cash flow statement
Unit: CNY
Amount in this report Amount in prior report
Item
period period
1. Cash flows from operating activities:
Cash received from sales of goods and rending of 884812693.00 1219265629.00
11Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
services
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
Cash received from collecting interest handling
fees and commission
Net increase in borrowings
Net increase in repurchasement business funds
Net cash received from securities trading agency
Tax refund received 7477445.00 14863383.00
Other cash received related to operating activities 11428177.00 23470486.00
Sub-total of cash inflows of operating activities 903718315.00 1257599498.00
Cash paid for goods and services 354927783.00 358712527.00
Net increase in customer loans and advances
Net increase in deposits in central bank and
interbank deposits
Cash paid to original insurance contract payments
Net increase in lending funds
Cash paid to interest handling fees and
commission
Cash paid to policy bonus
Cash paid to and on behalf of employees 163034926.00 138235716.00
Cash paid for taxes and expenses 293654915.00 287991459.00
Other cash paid related to operating activities 157446842.00 139081706.00
Sub-total of cash outflows of operating activities 969064466.00 924021408.00
Net cash flow from operating activities -65346151.00 333578090.00
2. Cash flow from investing activities:
Cash received from return of investment
Cash received from obtaining investment profit
Cash received from disposal of fixed assets
24000.001430000.00
intangible assets and other long-term assets
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 24000.00 1430000.00
Cash paid to acquire fixed assets intangible asset 36739068.00 34454461.00
12Yantai Changyu Pioneer Wine Co. Ltd. 2024 First Quarter Report
and other long-term assets
Cash for investments 231000000.00
Net increase in hypothecated loan
Net cash paid to acquire branch and other
5537700.00
business unit
Other cash paid related to investment activities
Subtotal of cash outflows of investment activities 267739068.00 39992161.00
Net cash flow from investing activities -267715068.00 -38562161.00
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 120028465.00 84365587.00
Other cash received related to financing activities
Sub-total cash inflows of financing activities 120028465.00 84365587.00
Cash paid to repay debts 171562099.00 129277475.00
Cash paid to distribute dividend profit or pay
7163791.003832086.00
interest
Dividend and profit paid to minority
70317.00
shareholders by branch
Other cash paid related to financing activities 3252155.00 31190548.00
Sub-total of cash outflows of financing activities 181978045.00 164300109.00
Net cash flow from financing activities -61949580.00 -79934522.00
4. Influences of exchange rate fluctuation on cash and
-864284.00-52232.00
cash equivalents
5. Net Increase of cash and cash equivalents -395875083.00 215029175.00
Plus: balance at the beginning of the period of
1963155752.001612753600.00
cash and cash equivalents
6. Balance at the end of the period of cash and cash
1567280669.001827782775.00
equivalents
2) The first implementation of the new accounting standards from 2024 adjusts the first
implementation of the relevant items in the financial statements at the beginning of the year
□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 26 2024
13
