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Stock Code: 000568 Stock abbreviation: Luzhou Laojiao Announcement No. 2023-34

Luzhou Laojiao Co., Ltd.

Q3 2023 Report

Luzhou Laojiao Co., Ltd. (hereinafter referred to as the ¡°Company¡±) andall the members of the Company¡¯s Board of Directors hereby guaranteethat the contents of this Report are true, accurate and complete and freeof any misrepresentations, misleading statements or material omissions.

Important Statements:

1. The Board of Directors, Board of Supervisors, directors, supervisors and senior managementguarantee that the information presented in this report is free of any false records, misleading statementsor material omissions, and shall individually and together be legally liable for truthfulness, accuracy andcompleteness of its contents.

2. The responsible person for the Company, the responsible person for accounting work and theresponsible person for the Company¡¯s financial affairs (Accounting Supervisor) have warranted that thefinancial statements in this report are true, accurate and complete.

3. Whether the financial statements of this report have been audited by an auditor

¡õYes ? No

This report has been prepared in both Chinese and English. Should there be any discrepancies ormisunderstandings between the two versions, the Chinese version shall prevail.

1. Key financial information

1.1 Key accounting data and financial indicators

Whether the Company performed a retroactive adjustment to or restatement of accounting data.

¡õYes ? No

1.2 Non-recurring gains and losses

?Applicable ¡õ N/A

Unit: CNY

Other items that meet the definition of non-recurring gain/loss:

¡õApplicable ? N/A û¥

No such cases for the reporting period.

Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in theExplanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities tothe Public-Non-Recurring Gains and Losses as a recurring gain/loss item.

¡õApplicable ? N/A û¥

No such cases for the reporting period.

1.3 Changes in key financial data and indicators and reasons for the changes? Applicable ? N/AA. The closing balance of cash and cash equivalents increased by CNY 9,009,426,603.08 compared tothe opening balance at the beginning of the year, indicating an increase of 50.74%. It was mainly due tothe increased cash received from operating activities and bank loans in the current period.B. The closing balance of investments in other equity instruments decreased by CNY 692,706,562.47compared to the opening balance at the beginning of the year, indicating a decrease of 60.94%. It wasmainly due to the disposal of some shareholdings of the H-stock of China Tourism Group Duty FreeCorporation Limited in the current period.C. The closing balance of construction in progress increased by CNY 969,249,671.16 compared to theopening balance at the beginning of the year, indicating an increase of 119.82%. It was mainly due to theincreased investment in the project of technical renovation of Luzhou Laojiao Intelligent Packaging Centerin the current period.D. The closing balance of deferred tax assets decreased by CNY 488,105,395.74 compared to theopening balance at the beginning of the year, indicating a decrease of 48.56%. It was mainly due to thedecreased unrealized profits of internal transactions.E. The closing balance of taxes payable decreased by CNY 1,600,456,469.04 compared to the openingbalance at the beginning of the year, indicating a decrease of 45.97%. It was mainly due to the paymentin the current period of taxes payable as at the end of last year.F. The closing balance of long-term loans increased by CNY 6,825,300,000.00 compared to the openingbalance at the beginning of the year, indicating an increase of 214.66%. It was mainly due to the receiptof bank loan in the current period.G. The closing balance of deferred tax liabilities decreased by CNY 72,253,438.80 compared to theopening balance at the beginning of the year, indicating a decrease of 43.51%; and the closing balanceof other comprehensive income decreased by CNY 238,715,939.92 compared to the opening balance at

the beginning of the year, indicating a decrease of 72.17%. It was mainly due to the decreased fair valueof equity investments.H. Taxes and surcharges in the current Q1-Q3 period increased by CNY 700,938,845.14 compared tothe same period of last year, indicating an increase of 44.27%. It was mainly due to the increasedconsumption tax in the current period.I. Other income in the current Q1-Q3 period increased by CNY 23,972,588.31 compared to the sameperiod of last year, indicating an increase of 189.68%. It was mainly due to the increased governmentgrants in the current period.J. Income tax expenses in the current Q1-Q3 period increased by CNY 855,559,403.79 compared to thesame period of last year, indicating an increase of 31.59%. It was mainly due to the increased salesrevenue from baijiu and the correspondingly increased profit.K. Net cash flows from operating activities in the current Q1-Q3 period increased by CNY2,740,225,736.75 compared to the same period of last year, indicating an increase of 43.41%. It wasmainly due to the increased cash received from sale of goods in the current period.L. Net cash flows from investing activities in the current Q1-Q3 period increased by CNY1,364,481,058.01 compared to the same period of last year, indicating an increase of 75.03%. It wasmainly due to the decreased purchases of wealth management products (collective asset managementplans) from securities firms in the current period compared to the same period of last year.M. Net cash flows from financing activities in the current Q1-Q3 period increased by CNY4,644,252,776.58 compared to the same period of last year, indicating an increase of 109.13%. It wasmainly due to the receipt of bank loan in the current period.

2. Shareholder information

2.1 Total numbers of common shareholders and preference shareholders with resumed votingrights as well as shareholdings of top 10 shareholders

Unit: Share

2.2 Total number of preferred shareholders and shareholdings of the top 10 preferredshareholders

¡õApplicable ? N/A

3. Other significant events

? Applicable ? N/AA. Progress on the restricted share incentive plana. On 21 February 2022, the Company disclosed the Announcement on the Completion of Registration

of Restricted Share Grant, completed the registration of the first grant of restricted shares. Upon theregistration of the grant, 6,862,600 restricted shares were granted to 437 objects, the grant price wasCNY 92.71 per share and the listing date was 22 February 2022.b. On 25 July 2022, the Company held the 18th Meeting of the 10th Board of Directors and the NinthMeeting of the 10th Board of Supervisors and reviewed and approved the Proposal on the Grant ofReserved Restricted Shares to Awardees respectively. The independent directors consented to thismatter.c. On 4 August 2022, the Board of Supervisors of the Company issued the review opinion, i.e.,Explanation on the Review and Announcement of the List of Awardees for the Reserved RestrictedShares of the 2021 Restricted Share Incentive Plan.d. On 2 September 2022, the Company held the 22nd Meeting of the 10th Board of Directors and the13th Meeting of the 10th Board of Supervisors, at which the Proposal on the Repurchase and Retirementof Certain Restricted Shares and the Adjustment of Repurchase Price and the Proposal on theAdjustment of the Granted Price of Reserved Restricted Shares of 2021 Restricted Share Incentive Planwere reviewed and approved respectively. In accordance with the relevant provisions of the incentiveplan of the Company and the authorization of the First Extraordinary General Meeting of Shareholders of2021, the Board of Directors of the Company agreed to adjust the grant price and repurchase price of thereserved restricted shares under the incentive plan from CNY 92.71 per share to CNY 89.466 per sharein view of the implementation of the Company's profit distribution plan for 2021. The independent directorsconsented to this matter.e. On 3 September 2022, the Company disclosed the Announcement on the Repurchase andCancellation of Some Restricted Shares to Reduce Registered Capital and Notice to Creditors. By theexpiration of the declaring period, the Company had not received any declaration from the relevantcreditors for early payout of debts or provision of guarantee.f. On 26 September 2022, the Company disclosed the Announcement on the Completion of theRegistration of the Grant of the Reserved Restricted Shares under the 2021 Restricted Share IncentivePlan. Upon the registration of the grant of the reserved restricted shares, 342,334 restricted shares weregranted to 46 objects, the grant price was CNY 89.466 per share and the listing date was 28 September2022.g. On 29 November 2022, the Company disclosed the Announcement on the Completion of theRepurchase and Cancellation of Some Restricted Shares. The Company proposed to repurchase andcancel a total of 62,310 restricted shares granted but not lifted from restricted sales. As at 29 November2022, the Company completed the aforesaid repurchase and cancellation of restricted shares.h. On 29 December 2022, the Company held the 26th Meeting of the 10th Board of Directors and the15th Meeting of the 10th Board of Supervisors and reviewed and approved the Proposal on the Grant ofReserved Restricted Shares to Awardees respectively. The independent directors consented to thismatter.i. On 13 January 2023, the Board of Supervisors of the Company issued the review opinion, i.e.,Explanation on the Review and Announcement of the List of Awardees for the Reserved RestrictedShares of the 2021 Restricted Share Incentive Plan.j. On 16 February 2023, the Company disclosed the Announcement on the Completion of the Registrationof the Grant of the Reserved Restricted Shares under the 2021 Restricted Share Incentive Plan. Uponthe registration of the grant of the reserved restricted shares, 92,669 restricted shares were granted to17 objects, the grant price was CNY 89.466 per share and the listing date was 17 February 2023.

B. The Company invested in the technical upgrade program of intelligent brewing (Phase I) with thewholly-owned subsidiary, Brewing Company, as the implementer. The total investment amountapproximated CNY 4,782.5090 million. For further information, see Announcement No. 2022-24 on theImplementation of Luzhou Laojiao¡¯s Technical Upgrade Program of Intelligent Brewing (Phase I) bySubsidiary. The program is currently under construction.

4. Financial statements

4.1 Financial statements

4.1.1 Consolidated balance sheet

Prepared by: Luzhou Laojiao Co., Ltd.

30 September 2023

Unit: CNY

Legal representative£ºLiu MiaoPerson in charge of accounting affairs£ºXie HongPerson in charge of accounting department£ºYan Li

4.1.2 Consolidated income statement for Q1~Q3

Unit: CNY

Legal representative£ºLiu MiaoPerson in charge of accounting affairs£ºXie HongPerson in charge of accounting department£ºYan Li

4.1.3 Consolidated statement of cash flows for Q1~Q3

Unit: CNY

4.2 Adjustments to financial statement items at the beginning of the year of the firstimplementation of the new accounting standards implemented since 2023

¡õApplicable ? N/A

4.3 Auditor¡¯s report

Whether the financial statements of this report have been audited by an auditor

¡õYes ? No

The said financial statements are unaudited by an auditor.

The Board of Directors of Luzhou Laojiao Co., Ltd.

31 October 2023