五粮液：2024年第一季度报告(英文)

查股网 2024-06-01 五粮液(000858)公司公告

Stock Code: 000858 Stock Name: WuliangyeAnnouncement No.: 2024/ No. 009

Wuliangye Yibin Co., Ltd.First Quarterly Report 2024The Company and all members of its Board of Directors hereby guarantee that the information disclosedherein are true, accurate and complete and free of any misrepresentations, misleading statements or materialomissions.Important information:

1. The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisorsand senior management of Wuliangye Yibin Co., Ltd. (hereinafter referred to as the “Company”) herebyguarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations,misleading statements or material omissions, and collectively and individually accept legal responsibility forsuch contents.

2. The Company’s legal representative, Chief Financial Officer, and head of the accounting departmenthereby guarantee that the financial statements carried in this Report are true, accurate and complete.

3. Indicate whether the financial statements in this Report have been audited by an independent auditor.

□ Yes? No

I Key Financial Information(I) Key Accounting Data and Financial Indicators

Indicate whether there is any retrospectively restated datum in the table below.

□ Yes? No

	Q1 2024	Q1 2023	YoY change (%)
Operating revenue (RMB)	34,832,906,762.77	31,138,862,489.34	11.86%
Net profit attributable to the listed company’s shareholders (RMB)	14,045,140,540.62	12,542,086,212.64	11.98%
Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB)	14,038,692,986.63	12,455,824,184.77	12.71%
Net cash generated from/used in operating activities (RMB)	516,195,072.59	9,535,617,536.41	-94.59%
Basic earnings per share (RMB/share)	3.618	3.231	11.98%
Diluted earnings per share (RMB/share)	3.618	3.231	11.98%
Weighted average return on equity (%)	10.28%	10.43%	Down by 0.15 percentage point
	31 March 2024	31 December 2023	Change (%)
Total assets (RMB)	180,610,175,713.37	165,432,981,684.75	9.17%
Equity attributable to the listed company’s shareholders (RMB)	143,603,381,581.13	129,558,241,040.51	10.84%

(II) Exceptional Gains and Losses

? Applicable □ Not applicable

Unit: RMB

Item	Q1 2024	Note
Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs)	1,513,091.54
Government grants recognised in profit or loss (exclusive of those that are closely related to the Company's normal business operations and given in accordance with defined criteria and in compliance with government policies, and have a continuing impact on the Company's profit or loss)	2,515,706.37
Capital occupation charges on non-financial enterprises that are recognized in profit or loss	206,853.13
Non-operating income and expense other than the above	4,707,952.64
Less: Income tax effects	2,169,339.74
Non-controlling interests effects (net of tax)	326,709.95
Total	6,447,553.99	--

Particulars about other items that meet the definition of exceptional gain/loss:

□ Applicable ? Not applicable

No such cases for the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in theExplanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Exceptional Gain/Loss Items:

□ Applicable ? Not applicable

No such cases for the Reporting Period.(III) Changes in Key Financial Statement Items and Reasons? Applicable □ Not applicable

Unit: RMB

Item

Q1 2024

Q1 2023

Change (%)

Main reason for the change

Net cashgeneratedfrom/used inoperatingactivities

Net cash generated from/used in operating activities

516,195,072.59

9,535,617,536.41

-94.59%

During the Reporting Period, the Company took various measures to support distributors based on market changes, and received more bank acceptance bills, in addition to a lower amount of cash collected on due bank acceptance bills.

II Shareholder Information(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed VotingRights as well as Holdings of Top 10 Shareholders

Unit: share

Number of ordinary shareholders at the period-end		568,852	Number of preference shareholders with resumed voting rights at the period-end (if any)			0
Top 10 shareholders(exclusive of shares lent in refinancing)
Name of shareholder	Nature of shareholder	Shareholding percentage	Total shares held	Restricted shares held	Shares in pledge, marked or frozen
					Status	Shares

Yibin Development Holding Group Co., Ltd.	State-owned corporation	34.43%	1,336,548,020
Sichuan Yibin Wuliangye Group Co., Ltd.	State-owned corporation	20.43%	793,127,954
Hong Kong Securities Clearing Company Limited	Overseas corporation	5.28%	205,123,774
China Securities Finance Corporation Limited	Other	2.38%	92,385,936
Bank of China Limited－China Merchants China Securities Baijiu Index Classification Securities Investment Fund	Other	1.35%	52,494,292
Central Huijin Asset Management Co., Ltd.	State-owned corporation	1.01%	39,325,400
Bank of China Limited－E Fund Blue Chip Selected Mixed Securities Investment Fund	Other	0.68%	26,400,000
China Life Insurance Company Limited－Traditional－General Insurance Product-005L-CT001 Shanghai	Other	0.62%	23,974,008
Industrial and Commercial Bank of China Limited-Huatai Bairui CSI 300 Traded Open-ended Index Securities Investment Fund	Other	0.54%	20,898,974
Industrial and Commercial Bank of China Limited－Invesco Great Wall Newly Growth Mixed Securities Investment Fund	Other	0.46%	17,678,300
Top 10 unrestricted shareholders
Name of shareholder			Unrestricted shares held	Shares by class
				Class	Shares
Yibin Development Holding Group Co., Ltd.			1,336,548,020	RMB-denominated ordinary shares	1,336,548,020
Sichuan Yibin Wuliangye Group Co., Ltd.			793,127,954	RMB-denominated ordinary shares	793,127,954
Hong Kong Securities Clearing Company Limited			205,123,774	RMB-denominated ordinary shares	205,123,774
China Securities Finance Corporation Limited			92,385,936	RMB-denominated ordinary shares	92,385,936
Bank of China Limited－China Merchants China Securities Baijiu Index Classification Securities Investment Fund			52,494,292	RMB-denominated ordinary shares	52,494,292
Central Huijin Asset Management Co., Ltd.			39,325,400	RMB-denominated ordinary shares	39,325,400

Bank of China Limited－E Fund Blue Chip Selected Mixed Securities Investment Fund	26,400,000	RMB-denominated ordinary shares	26,400,000
China Life Insurance Company Limited－Traditional－General Insurance Product-005L-CT001 Shanghai	23,974,008	RMB-denominated ordinary shares	23,974,008
Industrial and Commercial Bank of China Limited -Huatai Bairui CSI 300 Traded Open-ended Index Securities Investment Fund	20,898,974	RMB-denominated ordinary shares	20,898,974
Industrial and Commercial Bank of China Limited－Invesco Great Wall Newly Growth Mixed Securities Investment Fund	17,678,300	RMB-denominated ordinary shares	17,678,300
Related or acting-in-concert parties among top 10 unrestricted public shareholders, as well as between top 10 unrestricted public shareholders and top 10 shareholders	Among the top 10 shareholders, Sichuan Yibin Wuliangye Group Co., Ltd. is a wholly-owned subsidiary of Yibin Development Holding Group Co., Ltd. And the Company is not aware of any related or acting-in-concert parties among the other public shareholders.
Top 10 shareholders involved in securities margin trading (if any)	N/A

5% or greater shareholders, top 10 shareholders and top 10 unrestricted public shareholders involved inrefinancing shares lending:

□ Applicable ? Not applicable

Changes in top 10 shareholders and top 10 unrestricted public shareholders due to shares lent/returned inrefinancing compared with the prior period:

□ Applicable ? Not applicable

(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□ Applicable ? Not applicable

III Other Significant Events

□ Applicable ? Not applicable

IV Quarterly Financial Statements(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by Wuliangye Yibin Co., Ltd.31 March 2024Unit: RMB

Item	31 March 2024	1 January 2024
Current assets：
Monetary assets	115,826,046,470.35	115,456,300,910.64
Settlement reserve
Loans to other banks and financial institutions
Held-for-trading financial assets
Derivative financial assets
Notes receivable	11,686,765.00
Accounts receivable	166,566,155.01	42,647,461.48
Receivables financing	28,096,977,474.79	14,086,450,565.79
Prepayments	169,984,548.41	169,425,745.15
Premiums receivable

Reinsurance receivables
Receivable reinsurance contract reserve
Other receivables	75,185,842.74	39,624,933.74
Of which: Interest receivable
Dividends receivable
Financial assets purchased under resale agreements
Inventories	16,286,459,771.89	17,387,841,712.87
Of which: Data resources
Contract assets
Assets held for sale
Current portion of non-current assets
Other current assets
Total current assets	160,632,907,028.19	147,182,291,329.67
Non-current assets：
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments	2,020,366,240.69	2,020,366,240.69
Other equity investments
Other non-current financial assets	1,200,000.00	1,200,000.00
Investment property
Fixed assets	5,192,908,802.04	5,189,917,302.17
Construction in progress	6,290,862,308.14	5,623,356,422.20
Productive living assets
Oil and gas assets
Right-of-use assets	1,004,039,933.38	126,810,315.49
Intangible assets	2,036,349,914.59	2,056,870,639.03
Of which: Data resources
Development costs
Of which: Data resources
Goodwill	1,621,619.53	1,621,619.53
Long-term prepaid expense	163,632,170.76	163,120,023.86
Deferred income tax assets	2,429,068,238.70	2,242,610,567.82
Other non-current assets	837,219,457.35	824,817,224.29
Total non-current assets	19,977,268,685.18	18,250,690,355.08
Total assets	180,610,175,713.37	165,432,981,684.75
Current liabilities：
Short-term borrowings
Borrowings from the central bank

Loans from other banks and financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable	643,581,303.88	732,432,611.26
Accounts payable	8,920,561,948.82	8,864,206,997.09
Advances from customers	17,300,533.69	17,522,814.61
Contract liabilities	5,047,386,094.42	6,864,383,635.25
Financial assets sold under repurchase agreements
Customer deposits and deposits from other banks and financial institutions
Payables for acting trading of securities
Payables for underwriting of securities
Employee benefits payable	3,684,135,440.64	3,872,122,436.43
Taxes and levies payable	7,774,643,887.88	6,268,458,145.77
Other payables	5,664,841,506.35	5,385,776,903.69
Of which: Interest payable
Dividends payable
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with assets held for sale
Current portion of non-current liabilities	326,309,839.87	14,512,448.92
Other current liabilities	357,684,015.76	663,723,991.63
Total current liabilities	32,436,444,571.31	32,683,139,984.65
Non-current liabilities：
Insurance contract reserve
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Lease liabilities	691,813,240.34	115,722,608.68
Long-term payables
Long-term employee benefits payable
Provisions
Deferred income	249,090,809.77	253,043,325.37
Deferred income tax liabilities	247,984,434.40	31,702,578.88
Other non-current liabilities
Total non-current liabilities	1,188,888,484.51	400,468,512.93
Total liabilities	33,625,333,055.82	33,083,608,497.58
Owners’ equity：

Share capital	3,881,608,005.00	3,881,608,005.00
Other equity instruments
Of which : Preference shares
Perpetual bonds
Capital reserves	2,682,647,086.15	2,682,647,086.15
Less: Treasury shares
Other comprehensive income
Specific reserve
Surplus reserves	33,588,553,502.81	33,588,553,502.81
General reserve
Retained earnings	103,450,572,987.17	89,405,432,446.55
Total equity attributable to owners of the Company as the parent	143,603,381,581.13	129,558,241,040.51
Non-controlling interests	3,381,461,076.42	2,791,132,146.66
Total owners’ equity	146,984,842,657.55	132,349,373,187.17
Total liabilities and owners’ equity	180,610,175,713.37	165,432,981,684.75

Legal representative: Zeng Congqin Chief Financial Officer: Xie Zhiping Head of the accounting department: Liu Hongxu

2. Consolidated Income Statement

Unit: RMB

Item	Q1 2024	Q1 2023
I Total revenues	34,832,906,762.77	31,138,862,489.34
Of which: Operating revenue	34,832,906,762.77	31,138,862,489.34
Interest income
Insurance premium income
Fee and commission income
II Total costs and expenses	15,425,368,876.42	13,857,936,959.77
Of which: Cost of sales	7,514,706,723.40	6,727,660,977.75
Interest costs
Fee and commission costs
Surrenders
Net insurance claims paid
Net amount provided as reserve for insurance obligations
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies	4,857,848,090.86	4,458,627,780.78
Selling expense	2,624,191,303.92	2,112,310,474.06
Administrative expense	1,064,960,381.92	1,097,441,209.36
R&D expense	83,756,398.55	76,354,053.75
Finance costs	-720,094,022.23	-614,457,535.93
Of which: Interest expense	7,993,195.12	3,284,935.78

Interest income	728,480,809.27	620,657,198.60
Add: Other income	41,457,923.53	191,281,483.13
Return on investment (“－” for loss)
Of which: Share of profit or loss of joint ventures and associates
Income from the derecognition of financial assets at amortized cost
Exchange gain (“－” for loss)
Net gain on exposure hedges (“－” for loss)
Gain on changes in fair value (“－” for loss)
Credit impairment loss (“－” for loss)
Asset impairment loss (“－” for loss)
Asset disposal income (“－” for loss)	2,275,800.36	17,630.19
III Operating profit (“－” for loss)	19,451,271,610.24	17,472,224,642.89
Add: Non-operating income	6,023,133.36	3,313,438.97
Less: Non-operating expense	2,046,689.54	51,514,698.35
IV Gross profit (“－” for gross loss)	19,455,248,054.06	17,424,023,383.51
Less: Income tax expense	4,819,778,583.68	4,317,548,482.18
V Net profit (“－” for net loss)	14,635,469,470.38	13,106,474,901.33
(I) By operating continuity
1. Net profit from continuing operations (“－” for net loss)	14,635,469,470.38	13,106,474,901.33
2. Net profit from discontinued operations (“－” for net loss)
(II) By ownership
1. Net profit attributable to owners of the Company as the parent	14,045,140,540.62	12,542,086,212.64
2. Net profit attributable to non-controlling interests	590,328,929.76	564,388,688.69
VI Other comprehensive income, net of tax
Other comprehensive income, net of tax attributable to owners of the Company as the parent
(I) Other comprehensive income that will not be reclassified to profit or loss
1. Changes caused by remeasurements on defined benefit schemes
2. Other comprehensive income that will not be reclassified to profit or loss under the equity method
3. Changes in the fair value of other debt investments
4. Changes in the fair value arising from changes in own credit risk
5. Other
(II) Other comprehensive income that

will be reclassified to profit or loss
1. Other comprehensive income that will be reclassified to profit or loss under the equity method
2. Changes in the fair value of other debt investments
3. Other comprehensive income arising from the reclassification of financial assets
4. Credit impairment allowances for other debt investments
5. Reserve for cash flow hedges
6. Differences arising from the translation of foreign currency-denominated financial statements
7. Other
Other comprehensive income, net of tax attributable to non-controlling interests
VII Total comprehensive income	14,635,469,470.38	13,106,474,901.33
Total comprehensive income attributable to owners of the Company as the parent	14,045,140,540.62	12,542,086,212.64
Total comprehensive income attributable to non-controlling interests	590,328,929.76	564,388,688.69
VIII Earnings per share：
(I) Basic earnings per share	3.618	3.231
(II) Diluted earnings per share	3.618	3.231

Where business combinations involving entities under common control occurred in the current period, the netprofit achieved by the acquirees before the combinations was RMB0.00, with the amount for the same period oflast year being RMB0.00.

Legal representative: Zeng Congqin Chief Financial Officer: Xie Zhiping Head of the accounting department: Liu Hongxu

3. Consolidated Cash Flow Statement

Unit: RMB

Item	Q1 2024	Q1 2023
I Cash flows from operating activities：
Proceeds from sale of goods and rendering of services	21,769,115,461.57	28,636,841,576.57
Net increase in customer deposits and deposits from other banks and financial institutions
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy holders
Interest, fees and commissions received
Net increase in loans from other

banks and financial institutions
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax and levy rebates	32,080,629.47	3,544,200.00
Cash generated from other operating activities	369,777,481.13	393,079,554.42
Subtotal of cash generated from operating activities	22,170,973,572.17	29,033,465,330.99
Payments for goods and services	4,293,925,226.64	4,126,909,230.33
Net increase in loans and advances to customers
Net increase in deposits in the central bank and other banks and financial institutions
Payments for claims on original insurance contracts
Net increase in loans to other banks and financial institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees	3,318,713,696.23	3,223,644,751.01
Taxes and levies paid	12,107,581,035.30	10,471,373,027.74
Cash used in other operating activities	1,934,558,541.41	1,675,920,785.50
Subtotal of cash used in operating activities	21,654,778,499.58	19,497,847,794.58
Net cash generated from/used in operating activities	516,195,072.59	9,535,617,536.41
II Cash flows from investing activities：
Proceeds from the disposal of investments
Return on investment
Net proceeds from the disposal of fixed assets, intangible assets and other long-term assets	477,438.15	-59,806.29
Net proceeds from the disposal of subsidiaries and other business units
Cash generated from other investing activities
Subtotal of cash generated from investing activities	477,438.15	-59,806.29
Payments for the acquisition and construction of fixed assets, intangible assets and other long-term assets	533,620,992.85	1,104,203,949.98
Payments for the acquisition of investments
Net increase in pledge loans
Net payments for the acquisition of subsidiaries and other business units

Cash used in other investing activities
Subtotal of cash used in investing activities	533,620,992.85	1,104,203,949.98
Net cash generated from/used in investing activities	-533,143,554.70	-1,104,263,756.27
III Cash flows from financing activities：
Capital contributions received
Of which: Capital contributions received by subsidiaries from non-controlling interests
Borrowings received
Cash generated from other financing activities
Subtotal of cash generated from financing activities
Repayment of borrowings
Interest and dividends paid		13,191,392.99
Of which: Dividends paid by subsidiaries to non-controlling interests		13,191,392.99
Cash used in other financing activities	92,101,623.64	99,316,800.33
Subtotal of cash used in financing activities	92,101,623.64	112,508,193.32
Net cash generated from/used in financing activities	-92,101,623.64	-112,508,193.32
IV Effect of foreign exchange rate changes on cash and cash equivalents
V Net increase in cash and cash equivalents	-109,050,105.75	8,318,845,586.82
Add: Cash and cash equivalents, beginning of the period	113,095,684,224.30	90,584,643,897.66
VI Cash and cash equivalents, end of the period	112,986,634,118.55	98,903,489,484.48

(II) Adjustments to Financial Statement Items at the Beginning of the Year of the FirstImplementation of the New Accounting Standards Implemented since 2024

□ Applicable ? Not applicable

(III) Independent Auditor’s Report

Indicate whether the financial statements in this Report have been audited by an independent auditor.

□ Yes? No

These financial statements are unaudited by such an auditor.

The Board of Directors of Wuliangye Yibin Co., Ltd.

29 April 2024

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