Anhui Gujing Distillery Company Limited
The Report for the First Quarter of 2017
April 2017
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Section I Important Statements
The Board of Directors, the Supervisory Committee as well as all directors,
supervisors and senior management staff of Anhui Gujing Distillery Company
Limited (hereinafter referred to as “the Company”) warrant that this report is
factual, accurate and complete without any false record, misleading statement or
material omission. And they shall be jointly and severally liable for that.
All directors attended the board session for reviewing this report.
Liang Jinhui, company principal, Ye Changqing, chief of the accounting work,
and Zhu Jiafeng, chief of the accounting organ (chief of accounting), hereby
confirm that the financial statements enclosed in this report are factual, accurate
and complete.
This report is prepared in both Chinese and English. Should there be any
discrepancy between the two versions, the Chinese version shall prevail.
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Section II Company Profile
I Key financial results
Whether the Company performed any retroactive adjustments to or restatement of its accounting data due to changes of accounting
policies or correction of accounting errors
□ Yes √ No
January-March 2017 January-March 2016 +/-%
Operating revenues (RMB) 2,173,056,581.04 1,843,478,461.71 17.88%
Net profit attributable to shareholders of
407,764,742.43 344,007,925.98 18.53%
the Company (RMB)
Net profit attributable to shareholders of
the Company before exceptional profit and 356,588,955.68 339,439,775.36 5.05%
loss (RMB)
Net operating cash flow (RMB) 648,773,393.57 475,909,121.05 36.32%
Basic earnings per share (RMB/share) 0.81 0.68 19.12%
Diluted earnings per share (RMB/share) 0.81 0.68 19.12%
Weighted average return on equity 7.05% 6.90% 0.15%
March 31, 2017 December 31, 2016 +/-%
Total assets (RMB) 10,307,874,724.93 8,736,205,153.86 17.99%
Net assets attributable to shareholders of
5,981,918,960.84 5,595,121,383.96 6.91%
the Company (RMB)
Exceptional profit and loss
√ Applicable □ Not applicable
Unit: RMB
Item January-March 2017 Note
Profit/loss on disposal of non-current assets (including offset
135,323.43
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
15,174,433.44
business of the Company and given at a fixed quota or amount in
accordance with the State’s uniform standards)
Gains and losses on change in fair value from tradable financial
assets and tradable financial liabilities, as well as investment
income from disposal of tradable financial assets and tradable
47,406,652.41
financial liabilities and financial assets available for sales except
for effective hedging related with normal businesses of the
Company
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Non-operating income and expense other than the above 5,995,748.17
Less: Income tax effects 17,161,857.06
Minority shareholders equity effects (after tax) 374,513.64
Total 51,175,786.75 --
Explain the reasons if the Company classifies 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 classifies any exceptional profit/loss item mentioned in the said explanatory announcement as recurrent profit/loss
□ Applicable √ Not applicable
No such cases in the Reporting Period.
II Total number of shareholders at the period-end and shareholdings of top ten shareholders
1. Numbers of common shareholders and preference shareholders with resumed voting rights as well as
shareholdings of top ten shareholders
Unit: share
Total number of preference
Total number of common shareholders shareholders with resumed
16,875
at the period-end voting rights at the period-end
(if any)
Shareholdings of top ten shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholding Number of shares
restricted shares
shareholder shareholder percentage held Status of shares Number of shares
held
ANHUI GUJING
GROUP State-owned
53.89% 271,404,022 Pledged 114,000,000
COMPANY corporation
LIMITED
Foreign
NORGES BANK 2.92% 14,712,309
corporation
GAOLING Foreign
2.47% 12,446,408
FUND,L.P. corporation
UBS
Foreign
(LUXEMBOURG) 2.42% 12,163,899
corporation
S.A.
CENTRAL
HUIJIN ASSETS State-owned
1.30% 6,543,600
MANAGEMENT corporation
CO., LTD.
CHINA INT'L Foreign 1.09% 5,510,083
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
CAPITAL CORP corporation
HONG KONG
GREENWOODS
Foreign
CHINA ALPHA 0.98% 4,939,963
corporation
MASTER FUND
MORGAN
STANLEY & CO. Foreign
0.81% 4,062,204
INTERNATIONAL corporation
PLC
CHINA
MERCHANTS
State-owned
SECURITIES 0.73% 3,675,708
corporation
(HK) CO.,
LIMITED
3W GREATER
Foreign
CHINA FOCUS 0.70% 3,529,479
corporation
FUND
Shareholdings of top ten non-restricted shareholders
Variety of shares
Name of shareholder Number of non-restricted shares held
Variety Number
ANHUI GUJING GROUP RMB common
271,404,022 271,404,022
COMPANY LIMITED shares
Domestically
NORGES BANK 14,712,309 listed foreign 14,712,309
shares
Domestically
GAOLING FUND,L.P. 12,446,408 listed foreign 12,446,408
shares
Domestically
UBS (LUXEMBOURG) S.A. 12,163,899 listed foreign 12,163,899
shares
CENTRAL HUIJIN ASSETS RMB common
6,543,600 6,543,600
MANAGEMENT CO., LTD. shares
Domestically
CHINA INT'L CAPITAL CORP
5,510,083 listed foreign 5,510,083
HONG KONG
shares
Domestically
GREENWOODS CHINA ALPHA
4,939,963 listed foreign 4,939,963
MASTER FUND
shares
MORGAN STANLEY & CO. 4,062,204 Domestically 4,062,204
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
INTERNATIONAL PLC listed foreign
shares
Domestically
CHINA MERCHANTS SECURITIES
3,675,708 listed foreign 3,675,708
(HK) CO., LIMITED
shares
Domestically
3W GREATER CHINA FOCUS
3,529,479 listed foreign 3,529,479
FUND
shares
Among the shareholders above, no affiliated relationship exists between the Company’s
controlling shareholder—Anhui Gujing Group Company Limited—and other shareholders,
Explanation on associated relationship nor they are parties acting in concert as defined in the Administrative Measures on
or persons acting in concert among the Information Disclosure of Changes in Shareholding of Listed Companies. As for other
above-mentioned shareholders: shareholders, the Company does not know whether they are related parties or whether they
belong to parties acting in concert as defined in the Administrative Measures on Information
Disclosure of Changes in Shareholding of Listed Companies.
Top ten non-restricted common
shareholders taking part in margin
Not applicable
financing and securities lending (if
any)
Did any of the top ten common shareholders or the top ten non-restricted common shareholders of the Company conduct any
promissory repo during the Reporting Period?
□ Yea √ No
No such cases in the Reporting Period.
2. Total number of preference shareholders and shareholdings of the top ten of them
□ Applicable √ Not applicable
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Section III Significant Events
I Changes in the key financial results of this Reporting Period, as well as the reasons for such
changes
√ Applicable □ Not applicable
March 31, 2017 December 31,
Balance sheet item +/-% Reason for change
(RMB) 2016 (RMB)
Recovery of investment in wealth
Monetary funds 1,031,030,043.93 532,909,026.07 93.47%
management products
A higher percentage of transactions
Notes receivable 1,457,511,851.33 534,386,586.59 172.74%
settled by note
Accounts receivable 17,169,637.46 12,287,262.88 39.74% More consolidated entities
Interest receivable 5,565,369.86 2,843,178.08 95.74% More consolidated entities
Other accounts receivable 16,551,035.16 10,765,397.03 53.74% More consolidated entities
More bank’s acceptance bills were
Notes payable 34,221,783.00 11,298,583.00 202.89%
issued for settlement
The main reason is due to the increase
Other payables 983,234,628.91 641,472,271.53 53.28%
in unsettled discounts and margin.
Accounts received in
1,225,105,339.98 623,990,614.91 96.33% Increased orders
advance
January-March January-March
Income statement item +/-% Reason for change
2017 (RMB) 2016 (RMB)
Selling expenses 741,250,390.67 535,476,528.14 38.43% Increased marketing expenses
Increased income from investment in
Investment income 62,391,926.18 30,013,785.99 107.88%
wealth management products
Rebates of land use tax and property
Non-operating revenues 22,014,262.64 4,123,910.97 433.82%
tax
Cash flow statement January-March January-March
+/-% Reason for change
item 2017 (RMB) 2016 (RMB)
Rebates of land use tax and property
Tax and fare rebates 13,696,586.24 0.00 100.00%
tax
Net cash flows from
648,773,393.57 475,909,121.05 36.32% Increased operating revenues
operating activities
Cash received as
64,034,803.17 30,013,785.99 113.35% Increased investment income
investment income
Net cash flows from -145,592,375.71 -281,779,348.72 48.33% Recovery of more investment in
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
investing activities wealth management products
II Progress of significant events and their influence and solutions
□ Applicable √ Not applicable
III Overdue commitments of the Company’s actual controller, shareholders, related parties
and acquirer, as well as the Company and other commitment makers in this Reporting Period
or ongoing at the period-end
□ Applicable √ Not applicable
No such cases in this Reporting Period.
IV Operating result forecast for January-June 2017
Warning of possible loss or considerable change of the accumulated net profit made during the period-beginning to the end of the
next reporting period according to prediction, as well as explanations on the reasons:
□Applicable √ Not applicable
V Securities investments
√ Applicable □ Not applicable
Sharehold Sharehold
Number Number Gain/loss
Variety Code Name ing ing
Initial of shares of shares Closing for
of of of percentag percentag Accounting Source
investment held at held at book value reporting
securiti securiti securiti e at e at title of stock
cost (RMB) period-be period-e (RMB) period
es es es period-be period-en
gin nd (RMB)
gin d
Available-for-
41,019,990. 14,877,10 13,721,1 50,768,070. 1,515,784. Self-own
Stock 601988 ZGYH sale financial
36 0 00 00 77 ed funds
assets
Available-for-
70,317,243. 8,040,88 73,734,952. Self-own
Stock 000001 PAYH 8,040,889 0.00 sale financial
98 9 13 ed funds
assets
Available-for-
7,070,000.0 11,155,000. 43,338,631 Self-own
Stock 600373 ZWCM 6,445,120 500,000 sale financial
0 00 .81 ed funds
assets
GF Available-for-
150,000,000 152,985,628 Self-own
Securiti 0.00 sale financial
.00 .74 ed funds
es Nast assets
Zhongx 100,000,000 100,000,000 Available-for- Self-own
0.00
in dapu .00 .00 sale financial ed funds
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
assets
368,407,234 29,363,10 22,261,9 388,643,650 44,854,416
Total -- -- -- --
.34 9 89 .87 .58
Disclosure date of the
board announcement on
approval of the
securities investment
Disclosure date of the
general meeting
announcement on
approval of the
securities investment (if
any)
VI Investments in derivative financial instruments
√ Applicable □ Not applicable
Unit: RMB’0,000
Proporti
on of
Initial
Operator investme
Type of amount Amoun Amoun
of Amount Amoun Amount Amount nts at the
investme of t of t of
investme Affiliate of t of of of end of
nts in investme purchas actual
nts in d investme sale provisio investme the
Relations derivativ nts in Beginni Ending e gain/lo
derivativ transacti nts at the during n for nts at the period to
hip e derivativ ng date date during ss for
e on or beginnin Reporti impairm end of the net
financial e Reporti Reporti
financial not g of the ng ent（If the assets at
instrume financial ng ng
instrume period Period any） period the end
nts instrume Period Period
nts of
nts
Reportin
g Period
Reverse Reverse
repurcha repurcha
1/8/201 4/14/20 56,000. 20,090.0
se of No No se of 0 0 76,090 3.36% 92.09
7 17 00
national national
debt debt
56,000. 20,090.0
Total 0 -- -- 0 76,090 3.36% 92.09
00
Source of investment funds Self-owned funds
Particulars about lawsuits involved in
N/A
（if applicable）
Disclosure date of announcement of 8/30/2013
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
the board of directors on the approval
of investments in derivative financial
instruments（if any)
Disclosure date of announcement of
shareholders’ general meeting on the
approval of investments in derivative
financial instruments（if any)
Risk analysis of taking a position and
explanations on control measures of
derivative financial instruments Relevant risks are under the control of the Company in strict accordance with Investment
（including but not limited to Management System on Derivative Financial Instruments.
marketing risk, liquidity risk, credit
risk, operating risk, law risk etc.）
Particulars about the fluctuation of
market price and fair value of invested
derivative financial instruments during
Reporting Period, the concrete
operating methods and setting of No
related assumptions and parameters
should be disclosed in the analysis of
fair value of derivative financial
instruments
Explanations on whether there is any
significant change of accounting
policies and specific principles in
accounting about derivative financial No
instruments during Reporting Period
compared with the last Reporting
Period’s
In view of the continuous development of the Company’s main business and sufficient
free idle funds, the Company increases its earnings through investments in sound
derivative financial instruments, which is beneficial to improve the utilization efficiency
of the Company’s idle funds. The Company has built a set of supervision mechanism of
Special opinions of independent
derivative financial instruments business, made rational accounting policies and principles
directors on particulars about
in accounting so as to lower investment risks of derivative financial instruments. In
investments and risk control of
addition, the business of investments in derivative financial instruments carried by the
derivative financial instruments
Company, taking national debt as collateral, conforms to the Company’s risk management
principle that is prudent and moderate as well as the shareholders’ interests. Therefore, the
proposal related to business of investments in derivative financial instruments named
reverse repurchase of national debt has been approved not exceeding RMB 300 million.
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
VII Visits paid to the Company in the Reporting Period for purposes of research,
communication, interview, etc.
□ Applicable √ Not applicable
No such cases in the Reporting Period.
VIII Illegal provision of guarantees for external parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IX Occupation of the Company’s funds by the controlling shareholder or its related parties
for non-operating purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Section IV Financial Statements
I Financial statements
1. Consolidated balance sheet
Prepared by Anhui Gujing Distillery Company Limited.
March 31, 2017
Unit: RMB
Item Closing balance Opening balance
Current Assets:
Monetary funds 1,031,030,043.93 532,909,026.07
Settlement reserves
Intra-group lendings
Financial assets measured at fair
value of which changes are recorded in 363,586.08 429,190.68
current profits and losses
Derivative financial assets
Notes receivable 1,457,511,851.33 534,386,586.59
Accounts receivable 17,169,637.46 12,287,262.88
Accounts paid in advance 57,502,129.73 74,784,221.59
Premiums receivable
Reinsurance premiums receivable
Receivable reinsurance contract
reserves
Interest receivable 5,565,369.86 2,843,178.08
Dividend receivable
Other accounts receivable 16,551,035.16 10,765,397.03
Financial assets purchased under
agreements to resell
Inventories 1,823,765,299.87 1,786,433,036.50
Assets held for sale
Non-current assets due within 1 year
Other current assets 1,914,370,883.68 1,750,278,829.24
Total current assets 6,323,829,837.10 4,705,116,728.66
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Non-current assets:
Loans by mandate and advances
granted
Available-for-sale financial assets 388,643,650.87 404,029,552.27
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment
Investing real estate 8,267,899.17 8,402,944.74
Fixed assets 1,831,586,829.82 1,865,691,585.06
Construction in progress 68,347,736.96 71,771,324.26
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 701,566,268.72 700,684,529.08
R&D expense
Goodwill 478,283,495.29 478,283,495.29
Long-term deferred expenses 86,120,376.51 93,588,397.35
Deferred income tax assets 120,768,630.49 107,654,597.15
Other non-current assets 300,460,000.00 300,982,000.00
Total of non-current assets 3,984,044,887.83 4,031,088,425.20
Total assets 10,307,874,724.93 8,736,205,153.86
Current liabilities:
Short-term borrowings
Borrowings from Central Bank
Customer bank deposits and due to
banks and other financial institutions
Intra-group borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable 34,221,783.00 11,298,583.00
Accounts payable 450,597,705.11 340,972,366.21
Accounts received in advance 1,225,105,339.98 623,990,614.91
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Financial assets sold for repurchase
Handling charges and commissions
payable
Payroll payable 300,536,490.64 288,027,136.09
Tax payable 516,638,041.50 486,959,651.85
Interest payable
Dividend payable
Other accounts payable 983,234,628.91 641,472,271.53
Reinsurance premiums payable
Insurance contract reserves
Payables for acting trading of
securities
Payables for acting underwriting of
securities
Liabilities held for sale
Non-current liabilities due within 1
year
Other current liabilities 306,972,345.26 241,487,812.54
Total current liabilities 3,817,306,334.40 2,634,208,436.13
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preferred shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 42,897,105.78 43,978,795.45
Deferred income tax liabilities 108,991,996.70 117,287,002.52
Other non-current liabilities
Total non-current liabilities 151,889,102.48 161,265,797.97
Total liabilities 3,969,195,436.88 2,795,474,234.10
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 1,295,405,592.25 1,295,405,592.25
Less: Treasury stock
Other comprehensive income 15,177,312.40 36,144,477.95
Specific reserves
Surplus reserves 256,902,260.27 256,902,260.27
Provisions for general risks
Retained profits 3,910,833,795.92 3,503,069,053.49
Total equity attributable to owners of the
5,981,918,960.84 5,595,121,383.96
Company
Minority interests 356,760,327.21 345,609,535.80
Total owners’ equity 6,338,679,288.05 5,940,730,919.76
Total liabilities and owners’ equity 10,307,874,724.93 8,736,205,153.86
Legal representative: Liang Jinhui Person-in-charge of the accounting work: Ye Changqing
Chief of the accounting division: Zhu Jiafeng
2. Balance sheet of the Company
Unit: RMB
Item Closing balance Opening balance
Current Assets:
Monetary funds 906,995,282.40 225,792,686.26
Financial assets measured at fair
value of which changes are recorded in 363,586.08 429,190.68
current profits and losses
Derivative financial assets
Notes receivable 1,392,282,302.20 449,016,169.03
Accounts receivable 5,351,214.56 6,377,346.00
Accounts paid in advance 19,450,957.07 11,815,064.19
Interest receivable
Dividend receivable
Other accounts receivable 110,574,230.16 105,514,906.34
Inventories 1,592,476,420.78 1,549,397,565.11
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Assets held for sale
Non-current assets due within 1 year
Other current assets 1,851,069,643.64 1,750,000,000.00
Total current assets 5,878,563,636.89 4,098,342,927.61
Non-current assets:
Available-for-sale financial assets 388,125,650.87 403,547,952.27
Held-to-maturity investments
Long-term accounts receivable
Long-term equity investment 1,155,089,408.32 1,155,089,408.32
Investing real estate 30,374,013.58 30,846,736.84
Fixed assets 1,349,122,260.92 1,375,089,823.91
Construction in progress 62,167,771.38 68,022,146.66
Engineering materials
Disposal of fixed assets
Production biological assets
Oil-gas assets
Intangible assets 187,381,290.28 186,370,081.28
R&D expense
Goodwill
Long-term deferred expenses 85,899,056.01 92,695,064.02
Deferred income tax assets 36,366,330.90 36,366,330.90
Other non-current assets 460,000.00 982,000.00
Total of non-current assets 3,294,985,782.26 3,349,009,544.20
Total assets 9,173,549,419.15 7,447,352,471.81
Current liabilities:
Short-term borrowings
Financial liabilities measured at fair
value of which changes are recorded in
current profits and losses
Derivative financial liabilities
Notes payable 28,583.00 28,583.00
Accounts payable 393,967,887.69 307,649,868.02
Accounts received in advance 2,360,613,651.30 1,003,521,896.65
Payroll payable 70,870,495.88 90,742,908.53
Tax payable 366,491,660.71 320,037,309.94
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Interest payable
Dividend payable
Other accounts payable 283,896,584.74 282,570,379.80
Liabilities held for sale
Non-current liabilities due within 1
year
Other current liabilities 40,033,255.42 37,589,367.67
Total current liabilities 3,515,902,118.74 2,042,140,313.61
Non-current liabilities:
Long-term borrowings
Bonds payable
Of which: preferred shares
Perpetual bonds
Long-term payables
Long-term payroll payables
Specific payables
Estimated liabilities
Deferred income 41,610,469.47 42,745,851.74
Deferred income tax liabilities 8,297,164.61 15,385,289.84
Other non-current liabilities
Total non-current liabilities 49,907,634.08 58,131,141.58
Total liabilities 3,565,809,752.82 2,100,271,455.19
Owners’ equity:
Share capital 503,600,000.00 503,600,000.00
Other equity instruments
Of which: preferred shares
Perpetual bonds
Capital reserves 1,247,162,107.35 1,247,162,107.35
Less: Treasury stock
Other comprehensive income 15,593,228.48 37,315,555.64
Specific reserves
Surplus reserves 251,800,000.00 251,800,000.00
Retained profits 3,589,584,330.50 3,307,203,353.63
Total owners’ equity 5,607,739,666.33 5,347,081,016.62
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Total liabilities and owners’ equity 9,173,549,419.15 7,447,352,471.81
3. Consolidated income statement
Unit: RMB
Item January-March 2017 January-March 2016
I. Total operating revenues 2,173,056,581.04 1,843,478,461.71
Including: Sales income 2,173,056,581.04 1,843,478,461.71
Interest income
Premium income
Handling charge and commission
income
II. Total operating costs 1,698,418,322.96 1,417,218,910.78
Including: Cost of sales 485,600,237.86 472,705,071.05
Interest expenses
Handling charge and commission
expenses
Surrenders
Net claims paid
Net amount withdrawn for the
insurance contract reserve
Expenditure on policy dividends
Reinsurance premium
Taxes and associate charges 361,822,180.65 287,297,202.17
Selling and distribution expenses 741,250,390.67 535,476,528.14
Administrative expenses 120,878,754.27 125,343,277.71
Financial expenses -11,133,240.49 -3,603,168.29
Asset impairment loss
Add: Gain/(loss) from change in fair value
-3,866.40 -16,705.41
(“-” means loss)
Gain/(loss) from investment (“-”
62,391,926.18 30,013,785.99
means loss)
Including: share of profits in
associates and joint ventures
Foreign exchange gains (“-” means
loss)
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
III. Business profit (“-” means loss) 537,026,317.86 456,256,631.51
Add: non-operating income 22,014,262.64 4,123,910.97
Including: Gains on disposal of
156,537.36
non-current assets
Less: non-operating expense 708,757.60 112,845.81
Including: Losses on disposal of
21,213.93 42,745.30
non-current assets
IV. Total profit (“-” means loss) 558,331,822.90 460,267,696.67
Less: Income tax expense 139,416,289.06 116,259,770.69
V. Net profit (“-” means loss) 418,915,533.84 344,007,925.98
Net profit attributable to owners of
407,764,742.43 344,007,925.98
the Company
Minority shareholders’ income 11,150,791.41
VI. After-tax net amount of other
-20,967,165.55 -22,474,056.65
comprehensive incomes
After-tax net amount of other
comprehensive incomes attributable to -20,967,165.55 -22,474,056.65
owners of the Company
(I) Other comprehensive incomes
that will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and -20,967,165.55 -22,474,056.65
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial -20,967,165.55 -22,474,056.65
assets
3. Gains and losses on
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
reclassifying held-to-maturity investments
into available-for-sale financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
statement translation difference
6. Other
After-tax net amount of other
comprehensive incomes attributable to
minority shareholders
VII. Total comprehensive incomes 397,948,368.29 321,533,869.33
Attributable to owners of the
386,797,576.88 321,533,869.33
Company
Attributable to minority shareholders 11,150,791.41
VIII. Earnings per share
(I) Basic earnings per share 0.81 0.68
(II) Diluted earnings per share 0.81 0.68
Legal representative: Liang Jinhui Person-in-charge of the accounting work: Ye Changqing
Chief of the accounting division: Zhu Jiafeng
4. Income statement of the Company
Unit: RMB
Item January-March 2017 January-March 2016
I. Total sales 1,225,485,876.84 1,081,338,849.69
Less: cost of sales 441,659,248.56 481,921,265.24
Business taxes and surcharges 315,040,162.76 273,467,194.86
Distribution expenses 91,453,417.90 27,090,283.32
Administrative expenses 81,529,203.55 89,357,297.04
Financial costs -2,633,074.65 -3,388,636.27
Impairment loss
Add: gain/(loss) from change in fair
-3,866.40 -16,705.41
value (“-” means loss)
Gain/(loss) from investment (“-”
60,640,216.55 30,013,785.99
means loss)
Including: income from investment
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
on associates and joint ventures
II. Business profit (“-” means loss) 359,073,268.87 242,888,526.08
Add: non-operating income 18,081,294.52 4,785,164.01
Including: Gains on disposal of
93,990.84
non-current assets
Less: non-operating expense 646,594.22 36,893.95
Including: Losses on disposal of
1,094.55 36,893.95
non-current assets
III. Total profit (“-” means loss) 376,507,969.17 247,636,796.14
Less: Income tax expense 94,126,992.30 61,909,199.04
IV. Net profit (“-” means loss) 282,380,976.87 185,727,597.10
V. After-tax net amount of other
-21,722,327.16 -22,474,056.65
comprehensive incomes
(I) Other comprehensive incomes that
will not be reclassified into gains and
losses
1. Changes in net liabilities or
assets with a defined benefit plan upon
re-measurement
2. Enjoyable shares in other
comprehensive incomes in investees that
cannot be reclassified into gains and
losses under the equity method
(II) Other comprehensive incomes
that will be reclassified into gains and -21,722,327.16 -22,474,056.65
losses
1. Enjoyable shares in other
comprehensive incomes in investees that
will be reclassified into gains and losses
under the equity method
2. Gains and losses on fair value
changes of available-for-sale financial -21,722,327.16 -22,474,056.65
assets
3. Gains and losses on reclassifying
held-to-maturity investments into
available-for-sale financial assets
4. Effective hedging gains and
losses on cash flows
5. Foreign-currency financial
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
statement translation difference
6. Other
VI. Total comprehensive incomes 260,658,649.71 163,253,540.45
VII. Earnings per share
(I) Basic earnings per share 0.56 0.37
(II) Diluted earnings per share 0.56 0.37
5. Consolidated cash flow statement
Unit: RMB
Item January-March 2017 January-March 2016
I. Cash flows from operating activities:
Cash received from sale of
2,217,759,396.02 1,752,652,054.67
commodities and rendering of service
Net increase of deposits from
customers and dues from banks
Net increase of loans from the central
bank
Net increase of funds borrowed from
other financial institutions
Cash received from premium of
original insurance contracts
Net cash received from reinsurance
business
Net increase of deposits of policy
holders and investment fund
Net increase of disposal of financial
assets measured at fair value of which
changes are recorded into current gains
and losses
Cash received from interest, handling
charges and commissions
Net increase of intra-group
borrowings
Net increase of funds in repurchase
business
Tax refunds received 13,696,586.24 0.00
Other cash received relating to 106,104,856.09 171,045,890.73
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
operating activities
Subtotal of cash inflows from operating
2,337,560,838.35 1,923,697,945.40
activities
Cash paid for goods and services 281,029,361.24 303,598,158.66
Net increase of customer lendings
and advances
Net increase of funds deposited in the
central bank and amount due from
banks
Cash for paying claims of the
original insurance contracts
Cash for paying interest, handling
charges and commissions
Cash for paying policy dividends
Cash paid to and for employees 321,777,759.08 258,832,549.81
Various taxes paid 873,979,926.33 679,555,137.02
Other cash payment relating to
212,000,398.13 205,802,978.86
operating activities
Subtotal of cash outflows from
1,688,787,444.78 1,447,788,824.35
operating activities
Net cash flows from operating activities 648,773,393.57 475,909,121.05
II. Cash flows from investing activities:
Cash received from withdrawal of
1,359,977,129.63 1,130,986,038.17
investments
Cash received from return on
64,034,803.17 30,013,785.99
investments
Net cash received from disposal of
fixed assets, intangible assets and other 6,500.00 0.00
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
1,424,018,432.80 1,160,999,824.16
activities
Cash paid to acquire fixed assets,
intangible assets and other long-term 32,203,466.65 42,024,526.60
assets
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Cash paid for investment 1,537,407,341.86 1,400,754,646.28
Net increase of pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
1,569,610,808.51 1,442,779,172.88
investing activities
Net cash flows from investing activities -145,592,375.71 -281,779,348.72
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholder investments by
subsidiaries
Cash received from borrowings
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
activities
Repayment of borrowings
Cash paid for interest expenses and
distribution of dividends or profit
Including: dividends or profit paid
by subsidiaries to minority shareholders
Other cash payments relating to
financing activities
Sub-total of cash outflows from
financing activities
Net cash flows from financing activities
IV. Effect of foreign exchange rate
changes on cash and cash equivalents
V. Net increase in cash and cash
503,181,017.86 194,129,772.33
equivalents
Add: Opening balance of cash and 527,849,026.07 1,040,373,733.07
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
cash equivalents
VI. Closing balance of cash and cash
1,031,030,043.93 1,234,503,505.40
equivalents
6. Cash flow statement of the Company
Unit: RMB
Item January-March 2017 January-March 2016
I. Cash flows from operating activities:
Cash received from sale of
1,719,269,247.73 986,008,424.72
commodities and rendering of service
Tax refunds received 13,013,817.25
Other cash received relating to
29,416,467.68 73,537,128.65
operating activities
Subtotal of cash inflows from operating
1,761,699,532.66 1,059,545,553.37
activities
Cash paid for goods and services 258,976,795.82 266,984,820.59
Cash paid to and for employees 153,768,915.89 149,400,378.51
Various taxes paid 545,332,001.77 435,019,983.45
Other cash payment relating to
44,903,998.58 48,791,402.78
operating activities
Subtotal of cash outflows from
1,002,981,712.06 900,196,585.33
operating activities
Net cash flows from operating activities 758,717,820.60 159,348,968.04
II. Cash flows from investing activities:
Cash received from retraction of
1,359,977,129.63 1,130,986,038.17
investments
Cash received from return on
64,034,803.17 30,013,785.99
investments
Net cash received from disposal of
fixed assets, intangible assets and other
long-term assets
Net cash received from disposal of
subsidiaries or other business units
Other cash received relating to
investing activities
Subtotal of cash inflows from investing
1,424,011,932.80 1,160,999,824.16
activities
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
Cash paid to acquire fixed assets,
intangible assets and other long-term 27,119,815.40 40,311,668.13
assets
Cash paid for investment 1,474,407,341.86 1,400,754,646.28
Net cash paid to acquire subsidiaries
and other business units
Other cash payments relating to
investing activities
Subtotal of cash outflows from
1,501,527,157.26 1,441,066,314.41
investing activities
Net cash flows from investing activities -77,515,224.46 -280,066,490.25
III. Cash Flows from Financing
Activities:
Cash received from capital
contributions
Cash received from borrowings
Cash received from issuance of
bonds
Other cash received relating to
financing activities
Subtotal of cash inflows from financing
activities
Repayment of borrowings
Cash paid for interest expenses and
distribution of dividends or profit
Other cash payments relating to
financing activities
Sub-total of cash outflows from
financing activities
Net cash flows from financing activities
IV. Effect of foreign exchange rate
changes on cash and cash equivalents
V. Net increase in cash and cash
681,202,596.14 -120,717,522.21
equivalents
Add: Opening balance of cash and
225,792,686.26 548,650,832.84
cash equivalents
VI. Closing balance of cash and cash
906,995,282.40 427,933,310.63
equivalents
Gujing Distillery Original Chinese Spirits The Report for the First Quarter of 2017
II Auditor’s report
Is this Report audited?
□ Yes √ No
This Report is not audited.
