张裕B:2024年第三季度报告(英文）

Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

Stock Code: 000869 200869 Stock Abbreviation: Changyu A Changyu B Announcement No.: Final 2024-04

Yantai Changyu Pioneer Wine Co. Ltd.2024 Third 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 joint 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 Third Quarter Report has been audited

□Yes □No

1Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third 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

From the beginning of the year to the end

More or less than the same From the beginning of the year to

This report period of this report period more or less than the

period of last year (%) the end of this report period

same period of last year (%)

Operating revenue (CNY) 674991354 -19.11% 2197300790 -21.56%

Net profit attributed to the shareholders of

2776750-95.44%223954132-47.25%

the listed company (CNY)

Net profit attributed to the shareholders of

the listed company after deducting the -2876947 -105.24% 192006936 -49.37%

non-recurring profit and loss (CNY)

Net cash flows from the operating activities

——182274024-75.06%

(CNY)

Basic earnings per share (CNY/share) 0.004 -95.44% 0.32 -48.39%

Diluted earnings per share (CNY/share) 0.004 -95.44% 0.32 -48.39%

Weighted average for earning rate of the

0.03%-0.54%2.12%-1.85%

net assets

The end of this report period The end of last year More or less than the end of last year (%)

Total assets (CNY) 12339927629 13336267204 -7.47%

Net Assets attributed to the shareholders of

1057609625110841500988-2.45%

the listed company (CNY)

2Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

2) Item and amount of non-recurring profit and loss

□Available □Not available

Unit：CNY

From the beginning of the year to the end of

Item Amount in this report period Explanation

report period

Gains and losses on disposal of non-current assets (including the write-off part of

-1709454-1805124

the provision for impairment of assets)

Government grants credited in profit and loss (except for those government grants

that are closely related to the entity’s normal operation are in line with national

796570641596346

policy and regulation are enjoyed in accordance with established standards and

have a lasting impact on the entity's profit and loss)

Other non-operating income and expenses except for the above items 1195558 2361917

Less: Income tax effect 1789387 10160393

Minority interests effect (after-tax) 8727 45550

Total 5653696 31947196 --

Details of other profit and loss items in line with the identification of non-recurring profit and loss

□Available □Not available

There is no exist 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.

3Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

3) Situation and reason for the change in key accounting data and financial indicators

□Available □Not available

Item Year-on-year increase Reason

Account receivable -62.80% Mainly due to the collection of accounts receivable according to the account period

Financing of receivables -40.85% Mainly due to a year-over-year decrease in the received amount of notes receivable

Short-term loan -32.86% Mainly due to repayment of maturing short-term loans

Contractual liability -32.52% Mainly due to the decrease in the amount of advances on sales

Payroll payable to employees -52.03% Mainly due to the payment of salary during the year

Taxes payable -59.21% Mainly due to a year-over-year decrease in operating income

Investment income -107.93% Mainly due to a year-over-year decrease in equity disposal income

Net profit -45.29% Mainly due to a year-over-year decrease in operating income

Cash received from recouping the capital

7166.67% Mainly due to the recovery of maturing bank time deposits

outlay

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

438960

period voting power at the end of report period

Shareholding of top 10 shareholders

Character of Percentage Number of Pledged or frozen

Name of Shareholders Shares held

shareholders (%) restricted shares Share status Amount

Domestic non-state

YANTAI CHANGYU GROUP CO. LTD. 49.91% 345473856 0 Not available 0

legal person

Domestic natural

#Fengdi JIANG 0.72% 5000000 0 Not available 0

person

SHENWAN HONGYUAN SECURITIES (HONGKONG) LIMITED Foreign legal person 0.65% 4471352 0 Not available 0

VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND Foreign legal person 0.50% 3446137 0 Not available 0

4Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

Social Security Fund 114 Other 0.49% 3425055 0 Not available 0

HONG KONG SECURITIES CLEARING COMPANY LIMITED Foreign legal person 0.48% 3309293 0 Not available 0

GUOTAI JUNAN SECURITIES (HONG KONG) LIMITED Foreign legal person 0.45% 3108692 0 Not available 0

VANGUARD EMERGING MARKETS STOCK INDEX FUND Foreign legal person 0.45% 3087201 0 Not available 0

Domestic natural

Hongwei DENG 0.40% 2790816 0 Not available 0

person

Agricultural Bank of China-ICBC Credit Suisse Innovation Power Stock

Other 0.39% 2670050 0 Not available 0

Type Securities Investment Fund

Shareholding of top 10 shareholders with unrestricted shares

Type of share

Name of Shareholders Number of unrestricted shares held

Type of share Amount

YANTAI CHANGYU GROUP CO. LTD. 345473856 A share 345473856

#Fengdi JIANG 5000000 A share 5000000

SHENWAN HONGYUAN SECURITIES (HONGKONG) LIMITED 4471352 B share 4471352

VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND 3446137 B share 3446137

Social Security Fund 114 3425055 A share 3425055

HONG KONG SECURITIES CLEARING COMPANY LIMITED 3309293 A share 3309293

GUOTAI JUNAN SECURITIES（HONG KONG） LIMITED 3108692 B share 3108692

VANGUARD EMERGING MARKETS STOCK INDEX FUND 3087201 B share 3087201

Hongwei DENG 2790816 B share 2790816

Agricultural Bank of China-ICBC Credit Suisse Innovation Power Stock

2670050 A share 2670050

Type Securities Investment Fund

Among the top 10 shareholders Yantai Changyu Group Company Limited has no associated relationship

The explanation for the associated relationship and accordant action of

or accordant action relationship with the other 9 listed shareholders and the relationship among the other

the top 10 shareholders

shareholders is unknown.The top 10 shareholders did not involve in financing activities and stock trading business. Yantai

Explanation for the top 10 common shareholders who involved in Changyu Pioneer Wine Co. Ltd. has a special securities account for repurchase which is not listed among

financing activities and stock trading business (if any) the top 10 shareholders according to regulations. From the beginning of the year to the end of the report a

total of 19999993 B shares of the Company were repurchased accounting for 2.89% of the total share

5Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

capital at the end of the report.

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 Third Quarter Report

1. 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 1629563986 2217693647

Petty cash

Lending funds

Transactional financial assets

Derivative financial assets

Notes receivable 100000 1260000

Accounts receivable 142172323 382132334

Receivables Financing 241499286 408316028

Accounts prepaid 45509634 61497933

Premiums receivable

Reinsurance accounts receivable

Receivable reserves for reinsurance contract

Other receivables 79380702 71496276

Including: Interest receivable

Dividends receivable

Buying back the sale of financial assets

Inventory 3020727873 2765390587

Including: data resource

Contract assets

Assets classified as holding for sale

Non-current assets expire in one year

Other current assets 78513926 88368542

Total Current Assets 5237467730 5996155347

Non-current Assets：

Offering loans and imprest

Debt investment

Other debt investment

Long-term account receivable

Long-term equity investment 39232541 38285620

Investment in other equity instrument

Other non-current financial assets

Real estate for investment 22829940 24482831

Fixed assets 5620349909 5795082569

Construction in progress 10902858 3323241

Biological assets for production 165532263 177461983

7Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

Oil and gas assets

Right-of-use assets 107317225 121745910

Intangible assets 531725057 542625776

Including: data resource

Development expenditure

Including: data resource

Goodwill 107163616 107163616

Long-term deferred expenses 303117060 306662107

Deferred tax assets 194289430 221518204

Other non-current assets 1760000

Total Non-Current Assets 7102459899 7340111857

Total Assets 12339927629 13336267204

Current liabilities：

Short-term loan 245053807 364981445

Borrowings from the Central Bank

Borrowing funds

Transactional financial liability

Derivative financial liabilities

Notes payable

Accounts payable 471128905 473352525

Advances from customers

Contract liabilities 118281580 175278849

Sales/buyback financial assets

Customer and interbank deposits

Acting trading securities

Acting underwriting securities

Wage payable 88900765 185331292

Tax payable 112060197 274723431

Other accounts payable 328300043 555634336

Including: Interest payable

Dividend payable 383085

Payable handling fees and commission

Dividend payable for reinsurance

Liabilities classified as holding for sale

Non-current liabilities expire in one year 77119406 78523993

Other current liabilities 15698608 44958297

Total Current Liabilities 1456543311 2152784168

Non-Current Liabilities:

Insurance contract reserve

Long-term borrowings 53996403 66616443

Bonds payable

Including: Preferred Stock

Perpetual capital securities

8Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

Lease liability 67496580 85038335

Long-term accounts payable 281761

Long-term accrued payroll

Estimated liabilities

Deferred income 30219742 32582734

Deferred tax liabilities 9127101 8719729

Other non-current liabilities

Total non-current liabilities 161121587 192957241

Total liabilities 1617664898 2345741409

Owner’s equity (or shareholders’ equity):

Capital stock 692249559 692249559

Other equity instruments

Including: Preferred Stock

Perpetual capital securities

Capital reserve 663422236 651086707

Minus: treasury stock 252916268 103411919

Other comprehensive income -21064482 -14784677

Special reserves

Surplus reserve 342732000 342732000

General risk preparation

Undistributed profits 9151673206 9273629318

Total owner's equity attributable to the holding

1057609625110841500988

company

Minority interests 146166480 149024807

Total owner's equity 10722262731 10990525795

Total liabilities and owner's equity 12339927629 13336267204

Legal representative: Zhou Hongjiang; Person in charge of accounting : Jiang Jianxun;

Person in charge of accounting organ: Guo Cuimei

* Consolidated profit statement from the beginning of the year to the end of the report

period

Unit: CNY

Amount in this Amount in prior

Item

report period report period

1. Revenue 2197300790 2801225058

Including: Operating income 2197300790 2801225058

Interest income

Earned premium

Handling fees and commission income

2. Total operating costs 1924329373 2270760733

Including: Operating costs 900158317 1146383239

Interest expenditure

9Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

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 171078533 200838126

Selling expenses 640763707 685766062

Administrative expenses 199964997 217443316

Research and development expenditure 10555502 10350928

Financial expenses 1808317 9979062

Including: Interest expenses 13457377 18664311

Interest income 15315624 12999272

Plus:Other income 41596346 35706026

Investment profit (loss is listed with "-") -1205421 15193224

Including: Investment profit for joint-run business and joint

-1205421-1353899

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 "-") 4942135 -853460

Loss for impairment of assets (loss is listed with "-") -1568141 -1643403

Assets disposal income (loss is listed with "-") -201360 -294276

3. Operating profit (loss is listed with "-") 316534976 578572436

Plus: Non-operating income 2930750 3554944

Minus: Non-operating expenditure 2172597 2609517

4. Total profits (total loss is listed with "-") 317293129 579517863

Minus: Income taxes 93025768 169631893

5. Net profit (net loss is listed with "-") 224267361 409885970

5.1 Classification by continuous operation

5.1.1 Net profit from continuous operation (net loss is listed with "-") 224267361 409885970

5.1.2 Net profit from terminational operation (net loss is listed with "-")

5.2 Classification by ownership

5.2.1 Net profits attribute to equity holders of the company (net loss is

223954132424517627

listed with "-")

5.2.2 Minority interests (net loss is listed with "-") 313229 -14631657

6. Net value of other comprehensive income after tax -6912567 -2230558

6.1 Net value of other comprehensive income after tax of holding

-6279805-1811431

company's owners

6.1.1 Other comprehensive income that will not be classified into the

10Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

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

-6279805-1811431

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 currency

-6279805-1811431

financial statements

6.1.2.7 Other

6.2 Net value of other comprehensive income after tax of minority

-632762-419127

shareholders

7.Total comprehensive Income 217354794 407655412

7.1 Total comprehensive income of holding company 217674327 422706196

7.2 Total comprehensive income of minority shareholders -319533 -15050784

8. Earnings per share

8.1 Basic earnings per share 0.32 0.62

8.2 Diluted earnings per share 0.32 0.62

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 from the beginning of the year to the end of the report

period

Unit: CNY

Amount in this report Amount in prior report

Item

period period

1. Cash flows from operating activities:

11Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

Cash received from sales of goods and rending of

25038098252926501545

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 23927043 30396975

Other cash received related to operating activities 62382296 61048478

Sub-total of cash inflows of operating activities 2590119164 3017946998

Cash paid for goods and services 1023816465 884873618

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 362302425 337929446

Cash paid for taxes and expenses 561159394 640365529

Other cash paid related to operating activities 460566856 423807570

Sub-total of cash outflows of operating activities 2407845140 2286976163

Net cash flow from operating activities 182274024 730970835

2. Cash flow from investing activities:

Cash received from return of investment 436000000 6000000

Cash received from obtaining investment profit 3509149 598475

Cash received from disposal of fixed assets

2351051441925

intangible assets and other long-term assets

Net cash received from disposal of branch and

7238585

other business unit

Other cash received related to investing activities 657049

Sub-total of cash inflows of investment activities 439744254 15936034

12Yantai Changyu Pioneer Wine Co. Ltd. 2024 Third Quarter Report

Cash paid to acquire fixed assets intangible asset

8456927192006051

and other long-term assets

Cash for investments 268602343 226000000

Net increase in hypothecated loan

Net cash paid to acquire branch and other

business unit

Other cash paid related to investment activities

Subtotal of cash outflows of investment activities 353171614 318006051

Net cash flow from investing activities 86572640 -302070017

3. Cash flow from financing activities

Cash received from acquiring investment 103411919

Cash received from acquiring minority

shareholders' investment by branch

Cash received from acquiring loans 480462031 388097257

Other cash received related to financing activities

Sub-total cash inflows of financing activities 480462031 491509176

Cash paid to repay debts 600833608 547263356

Cash paid to distribute dividend profit or pay

363243859325817888

interest

Dividend and profit paid to minority

83898

shareholders by branch

Other cash paid related to financing activities 209980372 46988875

Sub-total of cash outflows of financing activities 1174057839 920070119

Net cash flow from financing activities -693595808 -428560943

4. Influences of exchange rate fluctuation on cash and

-1214374388163

cash equivalents

5. Net Increase of cash and cash equivalents -425963518 728038

Plus: balance at the beginning of the period of

19631557521612753600

cash and cash equivalents

6. Balance at the end of the period of cash and cash

15371922341613481638

equivalents

2) The first implementation of the new accounting standards from 2024 to adjust the first

implementation of the financial statements at the beginning of the year related items

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