Stock Code: 000869， 200869 Stock Abbreviation: Changyu A， Changyu B Announcement No.: 2024-Final 01
Yantai Changyu Pioneer Wine Co., Ltd.
2023 Annual Report Abstract
I. Important Notice
This Annual Report Abstract comes from the whole contents of annual report. If investors desire tocomprehensively understand the Company’s operating results, financial situation and futuredevelopment plan, please read the Annual Report on the media specified by the China SecuritiesRegulatory Commission.Except for the following directors, other directors attended this board meeting for reviewing thisannual report in person.
| Name of director not attending the meeting personally | Position of director not attending the meeting personally | Reason of not attending the meeting personally | Name of entrustee |
| Changqing Duan | Independent director | On a business trip | Qinglin Liu |
| Huirong Liu | Independent director | On a business trip | Zhuquan Wang |
Non-standard audit opinion notice
□Available ?Not available
The preliminary scheme of the report period’s ordinary share profit distribution or increasing equitywith reserve deliberated by the board of the directors?Available □Not availableWhether to increase equity with reserve
□Yes ?No
The Company’s preliminary scheme of profit distribution deliberated and passed by the board ofdirectors this time is shown as following: Based on the Company’s total 692,249,559 shares, we planto pay CNY5 (including tax) in cash as dividends for every 10 shares to all shareholders and send 0bonus share (including tax). Capital reserve will not be transferred to equity.The preliminary scheme of preferred share profit distribution during the report period deliberated andpassed by the board of directors
□Available ?Not available
II. Basic information of the Company
1. Brief introduction of the Company
| Stock Abbreviation | Changyu A, Changyu B | Stock Code | 000869, 200869 |
| Place of Stock Listing | Shenzhen Stock Exchange | ||
| Stock Abbreviation before Alteration | — | ||
| Contact person and information | Secretary to the Board of Directors | Authorized Representative of Securities Affairs | |
| Name | Mr. Jianxun Jiang | Mr. Tingguo Li | |
| Address | 56 Dama Road, Yantai, Shandong, China | 56 Dama Road, Yantai, Shandong, China | |
| Fax | 0086-535-6633639 | 0086-535-6633639 | |
| Tel | 0086-535-6602761 | 0086-535-6633656 | |
| jiangjianxun@changyu.com.cn | stock@changyu.com.cn | ||
2. Main businesses during the report period or brief introduction of productsDuring the report period, the Company’s main business was production and operation of wine andbrandy, thus providing domestic and foreign consumers with healthy and fashionablealcoholic drinks. Compared with earlier stage, there were no significant changes happened to theCompany’s main business. The wine industry that the Company involved in was still in growth stage.Being affected by many factors including slowing domestic economic growth and strong pressurefrom alternatives in recent years, the competition in the market was fierce, the wine consumptioncontinuously declined, and a large number of wine production enterprises were on the brink of loss,even some wine enterprises were eliminated from the market. However, seen from the long term, theexisting consumption concept might change with the increase of people’s income level and theirpursuit of a relaxed, romantic and healthy lifestyle. More domestic wine would be drunk by people,and wine would enter more and more household consumption. The situation of current low averageconsumption of domestic wine would gradually improve. The Company was at the forefront in thedomestic wine market and was significantly ahead of major domestic competitors.The Company’s products were divided into two series: wine and brandy. For wine, main brandsincluded Changyu, Noble Dragon, AFIP, Longyu, Golden Icewine Valley, Zenithwirl, Vermouth,Rena, Baron Balboa, J.LORMIN, Atrio, Kilikanoon and IWCC and so on. For Brandy, main brandsincluded Koya, Liquan, Mminni, Pagese, Roullet Fransac and so on.
3. Key accounting data and financial indicators
(1) Key accounting data and financial indicators in recent three years
Whether the Company needs to retrospectively adjust or restate the accounting data of previous fiscalyears.
?Yes ?No
Unit: CNY
| December 31st, 2023 | December 31st, 2022 | More or less than Last year end (%) | December 31st, 2021 | |
| Total assets | 13,336,267,204 | 13,171,506,378 | 1.25% | 13,472,009,754 |
| Net Assets attributed to shareholders of the listed company | 10,841,500,988 | 10,579,053,733 | 2.48% | 10,447,884,183 |
| 2023 | 2022 | More or less than Last year (%) | 2021 | |
| Operating revenue | 4,384,764,335 | 3,918,941,160 | 11.89% | 3,953,067,583 |
| Net profit attributed to shareholders of the listed company | 532,438,907 | 428,681,411 | 24.20% | 500,102,606 |
| Net profit attributed to shareholders of the listed company after deducting non-recurring profits and losses | 464,073,693 | 413,831,359 | 12.14% | 472,235,962 |
| Net cash flows from operating activities | 1,173,091,743 | 868,876,647 | 35.01% | 1,125,382,658 |
| Basic earnings per share (CNY) | 0.78 | 0.63 | 23.81% | 0.73 |
| Diluted earnings per share (CNY) | 0.78 | 0.63 | 23.81% | 0.73 |
| Weighted average for earning rate of net assets | 4.98% | 4.09% | 0.89% | 4.84% |
(2) Key accounting data by quarter
Unit: CNY
| 1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |
| Operating revenue | 1,131,459,036 | 835,279,449 | 834,486,573 | 1,583,539,277 |
| Net profit attributed to shareholders of the listed company | 276,778,987 | 86,790,449 | 60,948,191 | 107,921,280 |
| Net profit attributed to shareholders of the listed company after deducting non-recurring profits and losses | 267,069,409 | 57,252,566 | 54,891,658 | 84,860,060 |
| Net cash flows from operating activities | 333,578,090 | 194,341,696 | 203,051,049 | 442,120,908 |
Whether there are significant differences between above-mentioned financial indicators or their sumand the related financial indicators in the quarterly report and semi-annual report disclosed by theCompany.
□Yes ?No
4. Capital stock and shareholders’ situation
(1) Number of ordinary shareholder and preferred shareholder recovering voting power, and situation of shares held by top ten shareholders
Unit: share
The lending of shares by the top ten shareholders in the securities financing business?Yes ?No
Unit：share
| Total shareholders in the report period | 46,713 | Total number of shareholders by the end of last month before the disclosure day of the annual report | 47,362 | Total number of preferred shareholder recovering voting power by the end of report period | 0 | Total number of preferred shareholder recovering voting power by the end of last month before the disclosure day of the annual report | 0 | ||||||
| Shareholders holding more than 5% or the top 10 shareholders holding situation | |||||||||||||
| Name of Shareholders | Character of shareholders | Percentage (%) | Amount of holding shares | Number of restricted shares | Pledged /marked or frozen | ||||||||
| Share status | Amount | ||||||||||||
| YANTAI CHANGYU GROUP CO., LTD. | Domestic non-state legal person | 49.91% | 345,473,856 | 0 | - | 0 | |||||||
| GAOLING FUND, L.P. | Foreign legal person | 1.77% | 12,238,951 | 0 | - | 0 | |||||||
| SHENWAN HONGYUAN SECURITIES (HONGKONG) LIMITED | Foreign legal person | 1.31% | 9,061,352 | 0 | - | 0 | |||||||
| GUOTAI JUNAN SECURITIES (HONGKONG) LIMITED | Foreign legal person | 1.00% | 6,918,838 | 0 | - | 0 | |||||||
| HONG KONG SECURITIES CLEARING COMPANY LIMITED | Foreign legal person | 0.77% | 5,323,034 | 0 | - | 0 | |||||||
| JIANG Fengdi | Domestic natural person | 0.77% | 5,307,000 | 0 | - | 0 | |||||||
| BBH BOS S/A FIDELITY FD - CHINA FOCUS FD | Foreign legal person | 0.69% | 4,792,989 | 0 | - | 0 | |||||||
| VANGUARD EMERGING MARKETS STOCK INDEX FUND | Foreign legal person | 0.59% | 4,094,263 | 0 | - | 0 | |||||||
| Haitong International Securities Company Limited-Account Client | Foreign legal person | 0.57% | 3,921,904 | 0 | - | 0 | |||||||
| VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | Foreign legal person | 0.50% | 3,483,537 | 0 | - | 0 | |||||||
| The explanation for the associated relationship and accordant action | Among the top 10 shareholders, Yantai Changyu Group Company Limited has no associated relationship or accordant action relationship with the other 9 listed shareholders, while the relationship among the other shareholders is unknown. | ||||||||||||
| Explanation for the top 10 shareholders who involved in financing activities and stock trading business (if have) | The top 10 shareholders do not involve in financing activities and stock trade business. | ||||||||||||
| The lending of shares by the top ten shareholders in the securities financing business | ||||||||
| Name of Shareholders (full name) | Number of shares held in ordinary accounts and credit accounts at the beginning of the period | Number of lending shares of the securities financing and not be returned yet at the beginning period | Number of shares held in ordinary accounts and credit accounts at the end of the period | Number of lending shares of the securities financing and not be returned yet at the end period | ||||
| Total quantity | The proportion of the total share capital | Total quantity | The proportion of the total share capital | Total quantity | The proportion of the total share capital | Total quantity | The proportion of the total share capital | |
| YANTAI CHANGYU GROUP CO., LTD. | 345,471,556 | 50.40% | 2,300 | 0% | 345,473,856 | 49.91% | 0 | 0% |
The top ten shareholders changed from the previous period?Available ?Not available
(2) Number of preferred shareholder and situation of preferred shares held by top ten preferred shareholders
□Available ?Not available
There are no situation of preferred shares held by top ten preferred shareholders
(3) Introduction for property right and control relations between the Company and its actual controllers
5. Existing bond position on the submit date of annual report approval
□Available ?Not available
III. Important Matters
None
Yantai Changyu Pioneer Wine Co., Ltd.
Board of DirectorsApril 12, 2024