2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
Yantai Changyu Pioneer Wine Co. Ltd.
2015 First Quarter Report
2015-Final 02
April 2015
2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
I. Important Notice
The board of directors，the board of supervisors，directors, supervisors & senior managers
of the Company collectively and individually accept full responsibility for the truthfulness ，
accuracy and completeness of the information contained in this report and confirm that to the
best of their knowledge and belief there are no unfaithful facts, significant omissions or
misleading statements.
All directors attended the meeting for deliberating this quarter report.
Mr. Sun Liqiang (Chairman of the Company), Mr. Leng Bin (Chief Financial Officer) and Mr.
Jiang Jianxun (Financial Director) assure the truthfulness, accuracy and completeness of the
financial report in the annual report.
2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
II、Key financial data and shareholders changing
1. Key financial data
Whether the Company makes retroactive adjustments or restates the accounting data of previous
fiscal years.
□ Yes V No
The same period of More or less than
Item The report period
last year last year(%)
Business income (CNY) 1,825,212,207.00 1,508,515,994.00 20.99%
Net profit attributed to the
shareholders of the listed 530,248,397.00 457,522,651.00 15.90%
company (CNY)
Net profit attributed to the
shareholders of the listed
526,745,613.00 454,655,350.00 15.86%
company after deducting the
irregular profit and loss (CNY)
Net cash flows from the
697,396,327.00 706,507,223.00 -1.29%
operating activities (CNY)
Basic earnings per share
0.77 0.67 14.93%
(CNY)
Diluted earnings per share
0.77 0.67 14.93%
(CNY)
Weighted average for earning
7.46% 6.64% 0.82%
rate of the net assets
The end of the More or less than
The end of last year
report period last year(%)
Total assets (CNY) 9,719,260,222.00 8,912,232,640.00 9.06%
Net Assets attributed to the
shareholders of the listed 7,365,209,920.00 6,840,452,145.00 7.67%
company (CNY)
Details of irregular profit and loss
V Yes □ No
Unit：CNY
From beginning of year
Item Explanation
to end of report period
Government grants credited in profit and loss
(except for those recurring government grants
that are closely related to the entity''s operation, 3,411,679.00
in line with related regulations and have proper
basis of calculation)
Other non-operating income and expenses 1,061,714.00
Less: Income tax effect 970,609.00
Total 3,502,784.00 --
2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
The reasons shall be made clear and definitely as to the irregular profit and loss that the Company has
defined by virtue of the Explanatory Announcement on Public Company’s Information Disclosure No.1
- Irregular Profit and Loss and as to regarding the irregular profit and loss as recurrent profit and loss as
specified in the Explanatory Announcement on Public Company’s Information Disclosure No.1 -
Irregular Profit and Loss.
□Available V Not available
There is no situation regarding the non-recurring profit and loss as defined and specified in the
Explanatory Announcement on Public Company’s Information Disclosure No.1 - Non-recurring
Profit and Loss as recurrent profit and loss.
2. The total number of shareholders and top 10 shareholders at the end of the report period
1) The total number of the common shareholders and top 10 common shareholders at the end of
the report period
Unit: share
Total 43,169
Total number of common
28852 Shareholders of A shares
shareholders
14317 Shareholders of B shares
The top 10 common shareholders
Number Pledged or
Character of Percentage of frozen
Name of Shareholders Shares held
shareholders (%) restricted Share Amo
shares status unt
YANTAI CHANGYU GROUP Domestic
COMPANY LIMITED non-state-
50.40% 345,473,856 0
owned legal
person
GAOLING FUND,L.P. Foreign
3.53% 24,176,997 0
shareholder
BBH BOS S/A FIDELITY FD - CHINA Foreign
FOCUS FD 2.35% 16,106,326 0
shareholder
GIC PRIVATE LIMITED Foreign
1.45% 9,913,484 0
shareholder
MORGAN STANLEY & CO. Foreign
0.67% 4,620,321 0
INTERNATIONAL PLC shareholder
Foreign
NORGES BANK 0.66% 4,511,246 0
shareholder
BBH A/C VANGUARD EMERGING Foreign
MARKETS STOCK INDEX FUND
0.56% 3,846,587 0
shareholder
FIDELITY CHINA SPECIAL Foreign
0.55% 3,779,202 0
SITUATIONS PLC shareholder
Foreign
FIDELITY FUNDS 0.53% 3,644,429 0
shareholder
GREENWOODS CHINA ALPHA Foreign
MASTER FUND
0.52% 3,588,951 0
shareholder
The top 10 common shareholders with unrestricted shares
Name of Shareholders Number of Type of share
unrestricted Type of Amount
2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
shares held share
YANTAI CHANGYU GROUP COMPANY LIMITED 345,473,856 A share 345,473,856
GAOLING FUND,L.P. 24,176,997 B share 24,176,997
BBH BOS S/A FIDELITY FD - CHINA FOCUS FD 16,106,326 B share 16,106,326
GIC PRIVATE LIMITED 9,913,484 B share 9,913,484
MORGAN STANLEY & CO. INTERNATIONAL PLC 4,620,321 B share 4,620,321
NORGES BANK 4,511,246 B share 4,511,246
BBH A/C VANGUARD EMERGING MARKETS STOCK B share
INDEX FUND
3,846,587 3,846,587
FIDELITY CHINA SPECIAL SITUATIONS PLC 3,779,202 B share 3,779,202
FIDELITY FUNDS 3,644,429 B share 3,644,429
GREENWOODS CHINA ALPHA MASTER FUND 3,588,951 B share 3,588,951
Among the top 10 shareholders, Yantai Changyu Group
The explanation for the associated
Company Limited has no associated relationship or accordant
relationship and accordant action
action relationship with the other 9 listed shareholders, and the
of the top 10 shareholders
relationship among the other shareholders is unknown.
Explanation for the top 10
common shareholders who
No
involved in financing activities
and stock trading business(if any)
Whether or not the Company’s top 10 common shareholders and top 10 common shareholders with
unrestricted shares promise to buy back trading during the report period
□ Yes √ No
There is no top 10 common shareholders and top 10 common shareholders with unrestricted shares
in the Company promise to buy back trading during the report period.
2) The total number of the preferred shareholders and top 10 preferred shareholders at the end of
the report period
□Available V Not available
2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
III Major Issue
1. The Great Change and Reasons on Main Accountant Data and Financial Index
√Available □Not available
Compared the end of the report period with the beginning of the report period, monetary capital
increases by 37.51%, mainly due to the increased returned sales money; notes receivable
increases by 241.38%, mainly due to the growth on bank acceptances; account receivables
increases by 30.34%, mainly due to the expansion of Company’s direct-selling business and
increase of clients’ sales amount on credit; interest receivable increases by 37.33%, mainly due
to increased interest receivables on deposit; advance payment increases by 75.27%, mainly due
to the growth of advances on sales from clients. During the report period, sales revenue
increases by 20.99% on a year-on-year basis, mainly due to increased sales volume of products,
especially middle-end dry wine products; selling expense increases by 26.93% on a year-on-
year basis, mainly due to the expansion of direct-selling business; financial expense increases by
40.85% on a year-on-year basis, mainly due to the decline in the income of interest on deposit.
2. Analysis explanation of the major issue’s process, its influence and the solution
□Available V Not available
3. The commitments of the Company or shareholders of the Company holding more than
5% in the report period or until the report period
√available □not available
Commitment Commitment Commitment Implement
Commitments Commitment content
Party time period ation
Commitments at share
- － - - -
reform
Commitments made in
acquisition report or - - - -
equity changes report
Commitments at asset
- - - -
restructuring
Non Intra-industry Has been
1997.05.18 Permanent
competition performed
According to
\"Trademark License
Yantai Contract\", the Company
Commitments at the
Changyu will pay trademark
initial public offering
Group Co., Ltd royalty for the Has been
or refinancing 1997.05.18 Forever
\"Changyu\"products of performed
Yantai Changyu Group
Co., Ltd every year,
Yantai Changyu Group
Co., Ltd will use
2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
trademark to advertise
Changyu trademarks
and the Contract
products.
Commitments made to
the minority
- - - -
shareholders of the
Company
Commitment under
timely implementation Yes
or not
Specific reasons of not
completing the
No
implementation and
the next step
4. Forecast on the operating performance in the period from January to June of 2015
Warning and explanation for the estimation on the possible loss of cumulative net profit in the
period from the beginning of this year to the end of the next report period or the great change
comparing with same period of last year.
□Available V Not available
5. The situation of security investment
□Available V Not available
There is no security investment during the report period.
6. Explanation for the situation of holding other listed company’s shareholding
□Available V Not available
There is no holding other listed company’s shareholding during the report period.
7. The situation of derivative investment
□Available V Not available
There is no derivative investment during the report period.
8. The activities registration form of receptions, communication and interview etc. during the
report period
□Available V Not available
There is no activities of receptions, communication and interview etc. during the report period.
2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
Ⅳ Financial Statements
1、Financial statements
1)、Consolidated balance sheet
Yantai Changyu Pioneer Wine Co. Ltd. Unit: CNY
Item At 31 March 2015 At 31 December 2014
Current assets：
Monetary fund 1,574,940,993 1,145,365,071
Financial assets which are
measured by fair value and which
changes are recorded in current
profit and loss
Derivative financial liability
Notes receivable 472,187,453 138,315,319
Account receivable 189,865,830 145,672,411
Advance money 8,200,711 8,073,786
Interest receivable 4,970,565 3,619,429
Dividend receivable
Other account receivable 47,371,822 31,362,302
Inventories 1,890,603,447 2,087,376,398
Assets held for sale
Non-current assets due within
one year
Other curren t assets 18,829,681 29,662,076
Total current assets 4,206,970,502 3,589,446,792
Non-current assets：
Financial assets for sale
Investment held to expiration
Long-term account receivable
Long-term equity investment
Real estate for investment
fixed assets 2,523,345,907 2,532,682,355
Construction in progress 1,919,140,288 1,700,466,500
Project material
Liquidation of fixed assets
Biological assets for
production 150,724,726 151,723,241
Oil and gas assets
Intangible assets 450,281,643 452,951,194
2015 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
Development expenditure
Goodwill 13,112,525 13,112,525
Long-term deferred expenses 212,017,621 201,911,605
Assets of deferred income tax 227,915,405 254,186,823
Other non-current assets 15,751,605 15,751,605
Total non-current assets 5,512,289,720 5,322,785,848
Total assets 9,719,260,222 8,912,232,640
Current liabilities:
Short-term loan 300,000,000 300,000,000
Financial liabilities which are
measured by fair value and which
changes are recorded in current
profit and loss
Derivative
