重庆啤酒：2023年第三季度报告(英文版)

Stock Code: 600132 Stock Abbreviation: Chongqing Brewery

Chongqing Brewery Co., Ltd.

Q3 Report of 2023

The board of directors and all directors of the company guarantee that thisannouncement is free of any false records, misleading statements or significantomissions, and that they will bear legal responsibility for the authenticity, accuracyand completeness of its content.

Reminder of important content:

The board of directors, board of supervisors, directors, supervisors and senior management of thecompany guarantee that this quarterly report contains true, accurate and complete information andis free of any false records, misleading statements or significant omissions, and that they will bejointly and severally liable for the legal consequences.The legal representative of the company, officer in charge of accounting and head of accountingdepartment (the chief accountant) guarantee that the financial information in the quarterly report istrue, accurate and complete.Whether the Q3 financial statements are audited

□Yes √No

I. Key financial information(I) Major accounting data and financial indicators

Unit: yuan Currency: RMB

Note: "The reporting period" refers to the quarter ended September 30, 2023, the same below.The illustration of retrospective adjustmentThe Ministry of Finance issued the “Interpretation of China Accounting Standards for Business Enterprises No. 16” (Cai Kuai [2022] No. 31) (the “Interpretation No.16”) on November 30, 2022, and the regulations about accounting for deferred tax related to assets and liabilities arising from a single transaction to which the initialrecognition exemption does not apply took effect since January 1, 2023. For taxable and deductible temporary differences associated with lease liabilities and right-of-use assets arising from single transactions and presented at the beginning of the earliest comparative period due to the initial adoption of the Interpretation No. 16, theCompany adjusts them to retained earnings or other financial statement items at the beginning of the earliest comparative period presented in accordance with regulationsin the Interpretation No. 16 and the “Interpretation of China Accounting Standards for Business Enterprises No. 18 – Income Tax”.

(II) Non-recurring gains and losses

Unit: yuan Currency: RMB

Explain the reasons if the Company classifies an item as a recurring gain/loss item, which isenumerated as a non-recurring gain/loss in the <Explanatory Announcement No. 1 on InformationDisclosure for Companies Offering Their Securities to the Public—Non-Recurring Gains andLosses>:

□Applicable √N/A

(III) The conditions and reason of change for major accounting data and financial indicators

□Applicable √N/A

II. Main operating conditions during the reporting period

(I) Main operating conditionsFor the first three quarters of 2023, the beer production of large-scale enterprises nationwide reached

29.933 million kiloliters, an increase of 2.1% compared with the same period last year. (Datasourced from the National Bureau of Statistics of China).

For the first three quarters of 2023, the Company sold 2.6517 million kiloliters of beer, an increaseof 4.95% compared with 2.5265 million kiloliters over the same period of last year. The operatingrevenue was RMB13.029 billion yuan, an increase of 6.94% compared with RMB12.183 billionyuan over the same period of last year. Net profit attributable to shareholders of the Company forthe first three quarters of 2023 amounted to RMB1.344 billion yuan, an increase of 13.67%compared with RMB1.182 billion yuan over the same period of last year. Net profit attributable toshareholders of the Company excluding non-recurring profit or loss amounted to RMB1.327 billionyuan, an increase of 14.28% compared with RMB1.161 billion yuan over the same period of lastyear.

(II) Revenue by product grade

Unit: yuan Currency: RMB

Note: The product grade of the company is divided by consumer price, i.e. premium productindicates consumer price of RMB 10 yuan and above, mainstream product indicates consumer priceof RMB 6-10 yuan, and economic product indicates consumer price of RMB 6 yuan and below.

(III) Revenue by marketing channel

Unit: yuan Currency: RMB

(IV) Revenue by region

Unit: yuan Currency: RMB

Note: The administration area of the company is divided into three regions: Southern region, Centralregion and North-West region.

(V) DealersFor the quarter ended September 30, 2023, the company added 168 dealers and reduced 168dealers, with a total of 2,965 dealers at the end of the reporting period, which was unchanged fromJune 30, 2023.

III. Shareholders(I) Total number of ordinary shareholders, number of preferred shareholders with resumedvoting power and shareholding of top 10 shareholders

Unit: share

IV. Other remindersOther important information about the company’s operations during the reporting period thatinvestors should be reminded of.

√Applicable □N/A

On September 26, 2023, the 11

th meeting of the 10

th

Board of Directors of the company reviewedand passed the "Proposal on the Related Party Transaction Regarding the Acquisition of 100%Equity in Beijing Capital Brewing Jinmai Trading Co., Ltd. and G-Shell Asia Pacific (Beijing) FoodCo., Ltd.". On October 10, 2023, Carlsberg Chongqing Brewery Co., Ltd., the controlling subsidiaryof the Company, completed the acquisition of 100% equity of the two companies. The equitytransfer has been registered with the competent market supervision and management department.Beijing Capital Brewing Jinmai Trading Co., Ltd. and G-Shell Asia Pacific (Beijing) Food Co., Ltd.have become controlling subsidiaries of the Company.

V. Quarterly Financial Statements(I) Audit Opinion

□Applicable √N/A

(II) Financial Statements

Consolidated Balance SheetAs of September 30, 2023Prepared by: Chongqing Brewery Co., Ltd.

Unit: yuan Currency: RMB

Legal representative: Jo?o Miguel Ventura Rego AbecasisOfficer in charge of accounting: Chin Wee HuaHead of accounting department: Liping Liu

Consolidated Income StatementFor the Three Quarters Ended September 30, 2023

Unit: yuan Currency: RMB

Legal representative: Jo?o Miguel Ventura Rego AbecasisOfficer in charge of accounting: Chin Wee HuaHead of accounting department: Liping Liu

Consolidated Cash Flow StatementFor the Three Quarters Ended September 30, 2023

Unit: yuan Currency: RMB

Legal representative: Jo?o Miguel Ventura Rego AbecasisOfficer in charge of accounting: Chin Wee HuaHead of accounting department: Liping Liu

The first adoption of new accounting standards or interpretations since 2023 that involveadjustments to the financial statements at the beginning of the year of first adoption.

√Applicable □N/A

The illustration of retrospective adjustmentThe Ministry of Finance issued the “Interpretation of China Accounting Standards for BusinessEnterprises No. 16” (Cai Kuai [2022] No. 31) (the “Interpretation No. 16”) on November 30, 2022,and the regulations about accounting for deferred tax related to assets and liabilities arising from asingle transaction to which the initial recognition exemption does not apply took effect since January1, 2023. For taxable and deductible temporary differences associated with lease liabilities and right-of-use assets arising from single transactions and presented at the beginning of the earliestcomparative period due to the initial adoption of the Interpretation No. 16, the Company adjuststhem to retained earnings or other financial statement items at the beginning of the earliestcomparative period presented in accordance with regulations in the Interpretation No. 16 and the“Interpretation of China Accounting Standards for Business Enterprises No. 18 – Income Tax”.

The impact of the Group's Implement Interpretation No. 16 on the consolidated statement items onDecember 31, 2022 are as below.

The impact of the Group's Implement Interpretation No. 16 on the consolidated statement items onJanuary 1, 2022 are as below.

The impact on items related to the Group's consolidated income statement for the period fromJanuary 1, 2022 to September 30, 2022 are as below.

Hereby announced.

Board of Directors of Chongqing Brewery Co., Ltd.

October 30, 2023