ANHUI GUJING DISTILLERY COMPANY LIMITED
SEMI-ANNUAL REPORT 2016
Announcement No. 2016-025
August 2016
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
Section I Important Statements, Contents and Terms
The board of directors (the “Board”), the board of supervisors (the “Board of Supervisors”) as well
as the directors, supervisors and senior management of Anhui Gujing Distillery Company Limited
(the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of the
Report, and shall be jointly and severally liable for any false representation, misleading statements
or material omissions in the Report.
All the directors attended the board meeting for the review of the Report.
The Company plans not to distribute cash dividends or bonus shares or convert capital reserve into
share capital.
Liang Jinhui, head of the Company, Ye Changqing, accounting head for the Report, and Zhu Jiafeng,
head of the accounting organ (head of accounting), hereby guarantee that the Financial Report
carried in the Report is factual, accurate and complete.
The Report has been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese version shall prevail.
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
Contents
Section I Important Statements, Contents and Terms .................................................................... 2
Section II Corporate Profile .............................................................................................................. 5
Section III Highlights of Accounting Data and Financial Indicators ............................................ 7
Section IV Report by the Board of Directors .................................................................................. 9
Section V Significant Events ........................................................................................................... 18
Section VI Changes in Shares & Shareholders ............................................................................. 23
Section VII Preference Shares......................................................................................................... 28
Section VIII Directors, Supervisors and Senior Management Staffs .......................................... 29
Section IX Financial Report ............................................................................................................ 30
Section X Documents Available for Reference ............................................................................ 153
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
Terms
Term Meaning
Company, the Company, Gu Jing Anhui Gujing Distillery Company Limited
Group, the Group Anhui Gujing Distillery Company Limited (consolidated)
Gujing Group Anhui Gujing Group Co., Ltd.
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
Section II Corporate Profile
I Corporate information
Stock name Gujing Distillery, Gujing Distillery B Stock code 000596, 200596
Stock exchange Shenzhen Stock Exchange
Company name in Chinese 安徽古井贡酒股份有限公司
Abbr. (if any) 古井
Company name in English (if
ANHUI GUJING DISTILLERY COMPANY LIMITED
any)
Abbr. (if any) GU JING
Legal representative Liang Jinhui
II Contact information
Board Secretary Securities Representative
Name Ye Changqing Ma Junwei
Gujing Town, Bozhou City, Anhui Gujing Town, Bozhou City, Anhui
Address
Province, P.R.China Province, P.R.China
Tel. (0558) 5712231 (0558) 5710057
Fax (0558)5317706 (0558) 5317706
E-mail gjzqb@gujing.com.cn gjzqb@gujing.com.cn
III Other information
1. Ways to contact the Company
Did any change occur to the registered address, office address and their postal codes, website address and email address of the
Company during the Reporting Period?
□ Applicable √ Not applicable
The registered address, office address and their postal codes, website address and email address of the Company did not change
during the Reporting Period. The said information can be found in the 2015 Annual Report.
2. About information disclosure and the place where the Report is kept
Did any change occur to information disclosure media and the place where the Report is kept during the Reporting Period?
□ Applicable √ Not applicable
The newspapers designated by the Company for information disclosure, the website designated by the CSRC for disclosing the
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
Report and the location where the Report is placed did not change during the Reporting Period. The said information can be found in
the 2015 Annual Report.
3. Change of the registered information
Did any change occur to the registered information during the Reporting Period?
□ Applicable √ Not applicable
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
Section III Highlights of Accounting Data and Financial Indicators
I Major accounting data and financial indicators
Whether the Company performs any retroactive adjustments to or restatements of its accounting data of last year due to change in
accounting policies or correction of accounting errors
□ Yes √ No
Reporting Period Same period of last year +/- (%)
Operating revenues (RMB) 3,045,034,706.73 2,713,042,828.92 12.24%
Net profit attributable to shareholders of
431,055,462.62 380,504,804.17 13.29%
the Company (RMB)
Net profit attributable to shareholders of
the Company after excluding exceptional 423,236,352.49 368,258,604.21 14.93%
profit and loss (RMB)
Net cash flows from operating activities
326,112,612.99 336,217,657.83 -3.01%
(RMB)
Basic earnings per share (RMB/share) 0.86 0.76 13.16%
Diluted earnings per share (RMB/share) 0.86 0.76 13.16%
Weighted average return on equity (%) 8.54% 8.75% -0.21%
As at the end of the
As at the end of last year +/- (%)
Reporting Period
Total assets (RMB) 8,762,569,335.47 7,183,147,641.13 21.99%
Net assets attributable to shareholders of
5,196,297,183.36 4,833,721,630.08 7.50%
the Company (RMB)
II Differences in accounting data under domestic and overseas accounting standards
1. Differences in the net profit and the net assets disclosed in the financial reports prepared under
international and Chinese accounting standards
□ Applicable √ Not applicable
No such differences for the Reporting Period.
2. Differences in the net profit and the net assets disclosed in the financial reports prepared under overseas
and Chinese accounting standards
□ Applicable √ Not applicable
No such differences for the Reporting Period.
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
III Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item Reporting Period Note
Profit/loss on disposal of non-current assets (including offset
-4,318,558.07
amount of asset impairment provisions)
Government grants charged to the profit/loss for the Reporting
Period (except for the government grants closely related to the
3,899,636.68
business of the Company and given at a fixed quota or amount in
accordance with the State’s uniform standards)
Profit/loss on fair value changes of transactional financial assets
and liabilities & investment income from disposal of transactional
financial assets and liabilities as well as financial assets available 7,374,385.49
for sale, except for effective hedges related to normal business
operations of the Company
Non-operating income and expense other than the above 3,470,016.08
Less: Corporate income tax 2,606,370.05
Total 7,819,110.13 --
Explanation of why the Company classified an item as exceptional profit/loss according to the definition in the Explanatory
Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Profit and Loss,
or reclassified any exceptional profit/loss item given as an example in the said explanatory announcement to recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
Section IV Report by the Board of Directors
I Overview
2016 has continued to see obvious downward pressure on China’s economy, with complexity and volatility in the
environment at home and abroad. Despite signs of recovery in the distilled spirits industry, which had been in
hibernation, the industry as a whole is still going through deep change with continuous pressure.
Under the common efforts of the Board and all the other staff, for the six months from January to June 2016, we
achieved operating revenues of RMB3.045 billion, up 12.24% year on year; and net profit of RMB431 million,
representing a year-on-year growth of 13.29%. As such, the operating goals that we had set for the first half of
2016 at the beginning of the year were all accomplished. To achieve that, we took the following main measures in
the reporting period: ① following a strategy of “from the high-end market to other markets, from the
international market to the domestic market” to extend our brand influence; ② optimizing our market
competitive strategy through pushing forward the campaign to bring our products to more channels, stores and
consumers as well as through expanding our marketing channels to low-tier cities; ③ further improving our
brewing technique to increase our product quality; ④ pushing forward market internalization, reforming our
management methods and optimizing our human resource; and ⑤ accelerating automation, informatization and
intelligentization through the “5.0” strategy.
II Analysis of main business
YoY movements in major financial data
Unit: RMB
Main reason for
Reporting Period Same period of last year YoY +/-%
movement
Operating revenues 3,045,034,706.73 2,713,042,828.92 12.24%
Operating costs 780,394,434.66 827,578,527.59 -5.70%
Selling expenses 1,013,923,133.24 794,226,823.89 27.66%
Administrative expenses 257,077,455.72 237,926,770.64 8.05%
Finance costs -9,764,161.14 -8,593,975.74 -13.62%
Corporate income tax 144,981,768.68 132,550,174.27 9.38%
Net cash flows from
326,112,612.99 336,217,657.83 -3.01%
operating activities
Net cash flows from Net increase in cash paid
-225,265,330.93 -114,449,347.71 -96.83%
investing activities to acquire subsidiaries
Net cash flows from Payment of dividends to
-50,360,000.00 0.00 -100.00%
financing activities ordinary shareholders
Payment for investment
Net increase in cash and 50,487,282.06 221,768,310.12 -77.23%
and payment of
Gujing Distillery Original Chinese Spirits Semi-annual Report 2016
cash equivalents dividends
Financial assets that are
measured at fair value
The main reason for the
and whose movements
3,175,807.27 322,223.28 885.59% increase in the purchase
are included in the profit
of financial assets.
and loss of the current
period
The main reason for the
increase in the proportion
Note receivable 1,270,576,488.25 539,442,903.31 135.53%
of bills due to the
settlement
The main reason for the
Other receivables 22,597,880.76 8,617,955.68 162.22% increase in the scope of
the merger.
The main reason for the
project construction is
Construction project 23,322,200.71 62,562,971.78 -62.72% expected to be used in
the state, due to the
transfer of fixed assets.
The main reason for the
intangible assets 708,186,627.83 298,372,239.96 137.35% increase in the scope of
the merger.
The main reason is the
Payment in advance 1,059,316,464.50 608,565,152.50 74.07%
increase in sales orders.
The main reason is not
the same control
Deferred Tax Liability 119,413,770.33 20,463,660.87 483.54%
enterprise merger assets
evaluation caused by.
The main reason is the
Other payable 772,094,221.14 452,193,188.94 70.74% increase in deposit and
deposit.
Major changes to the profit structure or sources of the Company in the Reporting Period:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Reporting Period progress of the future development planning in the disclosed documents of the Company such as share-soliciting
prospectuses, offering prospectuses, asset reorganization reports, etc.:
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Review the reporting period progress of any previously disclosed business plan:
In the reporting period, we carried out our work according to our development strategy and annual operating plan, with the progress
Gujing Distillery Original Chinese Spirits
