Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
Yantai Changyu Pioneer Wine Co. Ltd.
2016 Semi-annual Report
2016-Final 03
August 2016
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
Contents
I、Important Notice, Contents and Definition................................................................................3
II、Brief Introduction for the Company ....................................................................................... 5
III、Summary of Accounting Data and Financial Indicators ......................................................7
IV、Board of Directors’ Report ....................................................................................................10
V、Major Issues ............................................................................................................................. 22
VI、Changes in Shares and the Shareholders’ Situation ........................................................... 31
VII、Relative situation for preferred shares................................................................................. 35
VIII、Situation for Directors, Supervisors, Senior Management ............................................. 36
IX、Financial Report .....................................................................................................................37
X、Catalogue of Documents for Future Reference.....................................................................130
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
I. Important Notice, Contents and Definition
The Board of Directors, the Board of Supervisors ， directors, supervisors & senior
management of the Company collectively and individually accept full responsibility for the
truthfulness ， accuracy and completeness of the information contained in the semi-annual
report and there are no unfaithful facts, misleading statements or significant omissions.
Except the following director, other directors have personally attended the Board of Directors’
meeting for deliberating the semi-annual report.
Name of director not Position of director not Reason of not
Name of
personally attending the personally attending the personally attending
entrusted
Board of Directors’ Board of Directors’ the Board of Directors’
person
meeting meeting meeting
Mr. Sun
Mrs. Dai Hui Director Evection
Liqiang
The Company has no plan to distribute cash dividends and bonus shares; capital reserve will
not be transferred to equity in the semi-annual.
Mr. Sun Liqiang (Chairman of the Company), Mr. Leng Bin (Chief Financial Officer) and Mr.
Jiang Jianxun (Financial Manager) assure the truthfulness, accuracy and completeness of the
financial report in the semi-annual report.
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
Definition
Definition Item Refers to Definition Content
Company/The Company Refers to Yantai Changyu Pioneer Wine Co. Ltd.
Changyu Group/Controlling Refers to
Yantai Changyu Group Co. Ltd.
shareholder
CSRC Refers to China Securities Regulatory Commission
SSE Refers to Shenzhen Stock Exchange
Deloitte Hua Yong Certified Public Deloitte Hua Yong Certified Public Accountants
Accountants Co., LTD Co., LTD (special general partnership)
CNY Refers to Chinese Yuan
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
II、Brief Introduction for the Company
1. Company’s information
Abbreviation of the Shares: Changyu A、Changyu B Code number of the Shares 000869、200869
Abbreviation of the Shares
-
after alteration
Place of listing of the Shares Shenzhen Stock Exchange
Legal Name in Chinese 烟台张裕葡萄酿酒股份有限公司
Abbreviation of Chinese name 张裕
Legal Name in English YANTAI CHANGYU PIONEER WINE COMPANY LIMITED
Abbreviation of English name CHANGYU
Legal Representative Mr. Sun Liqiang
2. Contact person and information
Secretary to the Board of Authorized Representative of the
Directors Securities Affairs
Name Mr. Qu Weimin Mr. Li Tingguo
Address 56 Dama Road, Yantai, Shandong, China 56 Dama Road, Yantai, Shandong, China
Tel 0086-535-6633658 0086-535-6633656
Fax 0086-535-6633639 0086-535-6633639
E-mail quwm@changyu.com.cn stock@changyu.com.cn
3. Other information
1)、The Company’s contact information
Whether there is any change for the Company’s registered address, office address, post code,
website and e-mail address during the report period.
□Available V Not available
There is no any change for the Company’s office address, post code, website and e-mail address
during the report period, please see 2015 annual report for more details.
2)、Information disclosure and filing Location
Whether there is any change for the information disclosure and filling location during the report
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
period.
□Available V Not available
There is no any change for the newspapers in which the Company’s information is disclosed,
website assigned by CSRC to carry the semi-annual report and the filing location during the report
period, please see 2015 annual report for more details.
3)、Registration changes
Whether there is any change for the registration during the report period.
V Available □Not available
Registration Registration Business license Tax registration Organization
date place registration number code
number
Registration at October Shandong 3700000180601 National tax: 26710003-5
the beginning 14th, 2013 Administration 22
of report for Industry & 8-1;
period Commerce Local tax:
Registration at June 17th, Shandong 9137000026710 9137000026710 9137000026710
the end of 2016 Administration 00358 00358
report period for Industry &
Commerce
Inquiry date of
appointed
website no
disclosed in
interim
announcement
(if have)
Inquiry index
of appointed
website
disclosed in no
interim
announcement
(if have)
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
III、 Summary of Accounting Data and Financial Indicators
1. Key accounting data and financial indicators
Whether the Company makes retroactive adjustments or restates the accounting data of previous
fiscal years because of changes of accounting policy and/or accounting errors.
□Yes V No
More or less than
In the same period of
Item In the report period the same period of
last year
last year(%)
Business revenue (CNY) 2,753,032,799 2,825,793,250 -2.57%
Net profit attributed to the
shareholders of the listed 695,021,847 746,060,248 -6.84%
company (CNY)
Net profit attributed to the
shareholders of the listed
company after deducting the 678,478,321 739,432,003 -8.24%
irregular profit and loss (CNY)
Net cash flows from the
682,748,369 927,163,060 -26.36%
operating activities (CNY)
Basic earnings (CNY) per share 1.01 1.09 -7.34%
Diluted earnings (CNY) per
1.01 1.09 -7.34%
share
Return on net assets (%) 8.78% 10.11% -1.33%
At the end of the At the end of last More or less than
report period year the end of last year
Total assets (CNY) 11,284,325,048 10,344,211,461 9.09%
Net Assets attributed to the
shareholders of the listed 8,265,370,769 7,564,099,003 9.27%
company (CNY)
2. Accounting data difference between domestic and foreign accounting standards
1) 、 Difference in net profit and net asset disclosed in the financial report under the PRC accounting
standards and international accounting standards.
V Available □Not available
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
Unit: CNY
Net profit belonged to Net asset belonged to shareholders
shareholders of listed of listed company
company
Amount in Amount in Amount at the Amount at the
current period last period end of this beginning of this
period period
Based on
Chinese
695,021,847 746,060,248 8,265,370,769 7,564,099,003
accounting
standard
Items and amount adjusted based on international accounting standard
Based on
international
695,021,847 746,060,248 8,265,370,769 7,564,099,003
accounting
standard
2) 、 Difference in net profit and net asset disclosed in the financial report under the PRC accounting
standards and foreign accounting standards.
□Available V Not available
There is no difference in net profit and net asset disclosed in the financial report under the PRC
accounting standards and foreign accounting standards during the report period.
3)、Explanation of difference in accounting data based on Chinese and international accounting standards
□Available V Not available
3. Details of irregular profit and loss
V Available □Not available
Unit: CNY
Item Amount Explanation
Gain on disposal of non-current assets, including
-15,485
the reversal of accrued impairment provision
Tax return, deduction and exemption with
12,116,257
unauthorized approval or no official document of
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
approval
Government grants credited in profit and loss
(except for those recurring government grants
that are closely related to the entity's operation, 6,029,617
in line with related regulations and have proper
basis of calculation)
Other non-operating expense and income 3,459,361
Less: Income tax effect 5,046,224
Total 16,543,526 -
The reasons shall be made clear and definitely as to the non-recurring profit and loss that the Company
has defined by virtue of the Explanatory Announcement on Public Company’s Information Disclosure
No.1 - Non-recurring Profit and Loss and as to regarding the non-recurring profit and loss as recurrent
profit and loss as specified in the Explanatory Announcement on Public Company’s Information
Disclosure No.1 - Non-recurring 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.
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
IV、Board of Directors’ Report
1. Summarization
During the report period, the need for high-end products in domestic wine industry was still weak, but
the consumer demand began to increase mildly in some regions; middle-and-low-end wines suitable for
the public and with a high sales volume in festival and holidays didn’t have a significant fluctuation.
Overall, there was still strong competition existing in domestic wine market and the Company was
facing a big operating pressure and challenge. Facing quite a lot of external disadvantages, the
Company insisted on focusing on the market, adjusted marketing strategy, perfected sales channel and
product structure, optimized the market layout and promoted sales of products with all strength,
ensuring the stability of business performance and respectively accomplishing the sales revenue of
CNY2753.03million with a year-on-year decrease of 2.57% as well as the net profit of
CNY695.67million with a year-on-year decrease of 6.75%.
2. Analysis to main business
1) Period comparison of main financial data
Unit: CNY
In the same
In the report More or
period of last Reason for changes
period less (%)
year
Mainly decreased sales volume
Operating revenue 2,753,032,799 2,825,793,250 -2.57%
of products
Mainly decreased sales volume
Operating cost 902,734,104 932,522,743 -3.19%
of products
Sales expense 650,737,234 653,425,516 -0.41% -
Mainly increased salary of
Management management, administrative
122,695,845 119,770,340 2.44%
expense expense, depreciation cost,
building tax and other taxes
Mainly decreased interest
income of bank deposit and
Financial expense 10,988,233 -3,880,903 383.14%
increased interest expenditure
of bank loan
Mainly decreased net profit on
Income tax expense 238,715,481 245,727,101 -2.85%
year-on-year basis
R&D investment 5,546,825 5,534,562 0.22% -
Yantai Changyu Pioneer Wine Co. Ltd. 2016 Semi-annual Report
Net amount of cash Mainly increased cash paid for
goods purchased and labor
flow generated in 682,748,369 927,163,060 -26.36%
service received on
operating activities year-on-year basis
Net amount of cash Mainly decreased cash outflow
generated by investment
flow generated in -397,659,283 -432,181,002 7.99%
activities including purchase
investment activities and building of fixed assets
Net amount of cash
Mainly increased cash received
flow generated in 259,718,424 -23,919,692 1,185.79%
through bank loan
financing activities
Net increased Mainly increased net amount of
amount of cash and 551,693,393 470,554,249 17.24% cash flow generated by
cash equivalents financing activities
Whether there is any great change for the Company’s profit structure or profit source during the report
period
□Available V Not available
There is no great change for the Company’s profit structure or profit source during the report
period.
Whether there is any future development and planning disclosed in the public Company’s shares
prospectus, collecting prospectus
