重庆啤酒：2024年第三季度报告(英文版)
Stock Code: 600132 Stock Abbreviation: Chongqing Brewery
CHONGQING BREWERY CO., LTD.
Q3 REPORT OF 2024
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
| Item | For the quarter ended September 30, 2024 (“the reporting period”) | YoY Variance (%) | For the three quarters ended September 30, 2024 | YoY Variance (%) | ||
| Operating revenue | 4,202,308,225.00 | -7.11 | 13,062,996,755.34 | 0.26 | ||
| Net profit attributable to shareholders of the Company | 430,678,422.06 | -10.10 | 1,331,968,723.29 | -0.90 | ||
| Net profit attributable to shareholders of the Company after deducting non-recurring profit or loss | 417,990,356.67 | -11.60 | 1,305,563,897.32 | -1.61 | ||
| Net cash flows from operating activities | —— | —— | 3,461,797,517.06 | -6.90 | ||
| Basic earnings per share | 0.89 | -10.10 | 2.75 | -0.90 | ||
| Diluted earnings per share | 0.89 | -10.10 | 2.75 | -0.90 | ||
| Weighted average ROE (%) | 22.44 | Decreased by 2.83 p.p. | 60.18 | Decreased by 1.81 p.p. | ||
| As of September 30, 2024 | As of December 31, 2023 | YoY Variance (%) | ||||
| Total assets | 13,150,720,231.50 | 12,386,911,593.95 | 6.17 | |||
| Net assets attributable to shareholders of the Company | 2,136,030,028.30 | 2,140,200,619.57 | -0.19 | |||
Note: "The reporting period" above and hereafter refers to the quarter ended September 30, 2024.
(II) Non-recurring gains and losses
Unit: yuan Currency: RMB
| Items | For the quarter ended September 30, 2024 | For the three quarters ended September 30, 2024 | Remarks |
| Gains on disposal of non-current assets, including write-off of provision for impairment | 613,204.62 | -859,814.50 | |
| Government grants included in profit or loss (excluding those closely related to operating activities of the Company, satisfying government policies and regulations, enjoyed based on certain standards, and continuously affecting gains or losses of the Company) | 16,202,541.12 | 40,272,258.02 | |
| Gains or losses on changes in fair value of financial assets and liabilities held by non-financial enterprises, and gains or losses on disposal of financial assets and liabilities, excluding those arising from hedging business related to operating activities | 4,257,308.30 | 12,604,058.68 | |
| Other non-operating revenue or expenditures | 9,250,867.85 | 12,907,081.73 | |
| Other profit or loss satisfying the definition of non-recurring profit or loss | 287,171.90 | 287,171.90 | |
| Less: Enterprise income tax affected | 6,006,538.89 | 13,838,181.38 | |
| Non-controlling interest (after tax) | 11,916,489.51 | 24,967,748.48 | |
| Total | 12,688,065.39 | 26,404,825.97 |
Remarks on defining items not listed in “Interpretation Pronouncement on Information DisclosureCriteria for Public Companies No. 1 – Non-Recurring Profit or Loss” as non-recurring profit or losswith significant amount and remarks on defining non-recurring profit or loss listed in the“Interpretation Pronouncement on Information Disclosure Criteria for Public Companies No. 1 –Non-Recurring Profit or Loss” as recurring profit or loss.
□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 2024, the Company achieved sales volume of 26,570 KHL, whichincreased by 0.20% over the same period of last year’s volume of 26,517 KHL. Revenue was RMB
13.063 billion, which increased by 0.26% over the same period of last year’s revenue of RMB
13.029 billion. The net profit attributable to shareholders of the Company was RMB 1,332 million,which decreased by 0.90% over the same period of last year’s base of RMB 1,344 million. The netprofit attributable to shareholders of the Company after deducting non-recurring profit or loss wasRMB 1,306 million, with a decrease of 1.61% over the same period of last year’s base of RMB1,327 million.
(II) Revenue by product grade
Unit: yuan Currency: RMB
| Product grade | For the three quarters ended September 30, 2024 Main business revenue | For the three quarters ended September 30, 2023 Main business revenue | YoY Variance (%) |
| Premium | 7,625,256,387.01 | 7,721,354,158.07 | -1.24 |
| Mainstream | 4,764,380,222.36 | 4,762,825,837.76 | 0.03 |
| Economic | 318,079,038.10 | 276,978,483.55 | 14.84 |
| Total | 12,707,715,647.47 | 12,761,158,479.38 | -0.42 |
Note: 1. The Company classifies its products into three grades based on consumption price, i.e,premium (priced at RMB 8 yuan and above), mainstream (priced between RMB 4-8 yuan, excluding8 yuan), and economic (priced below RMB 4 yuan).
(III) Revenue by marketing channel
Unit: yuan Currency: RMB
| Channel type | For the three quarters ended September 30, 2024 Main business revenue | For the three quarters ended September 30, 2023 Main business revenue | YoY Variance (%) |
| Wholesale | 12,676,043,869.63 | 12,729,364,124.06 | -0.42 |
(IV) Revenue by region
Unit: yuan Currency: RMB
| Region | For the three quarters ended September 30, 2024 Main business revenue | For the three quarters ended September 30, 2023 Main business revenue | YoY Variance (%) |
| North-West | 3,672,983,082.82 | 3,767,337,710.92 | -2.50 |
| Central | 5,349,278,698.80 | 5,349,507,527.31 | 0.00 |
| South | 3,685,453,865.85 | 3,644,313,241.15 | 1.13 |
| Total | 12,707,715,647.47 | 12,761,158,479.38 | -0.42 |
Note: The administration area of the company is divided into three regions: North-West region,Central region and South region.
(V) Distributors
For the quarter ended September 30, 2024, the number of distributors for the companyincreased by 176 and decreased by 164, with a total of distributors 3,000 at the end of the reportingperiod, which was increased by 12 from June 30, 2024.
III. Shareholders(I) Total number of ordinary shareholders, number of preferred shareholders with resumedvoting power and shareholding of top 10 shareholders
Unit: share
| Total number of ordinary shareholders at the end of the reporting period | 53,613 | Total number of preferred shareholders with resumed voting power at the end of the reporting period (if any) | N/A | |||
| Shareholdings of top 10 shareholders (excluding refinancing shares lent) | ||||||
| Name of shareholder | Nature of shareholder | Number of shares held | Shareholding (%) | Number of restricted shares held | Pledge, marking or freezing | |
| Share status | Amount | |||||
| Carlsberg Brewery Hong Kong Limited | Overseas legal person | 205,882,718 | 42.54 | 0 | None | |
| CARLSBERG CHONGQING LIMITED | Overseas legal person | 84,500,000 | 17.46 | 0 | None | |
| Hong Kong Securities Clearing Co., Ltd. | Overseas legal person | 32,805,723 | 6.78 | 0 | Unknown | |
| Industrial and Commercial Bank of China Limited - Huatai-PineBridge CSI 300 ETF | Other | 3,942,413 | 0.81 | 0 | Unknown | |
| China Construction Bank Corporation - PENGHUA CSI ALCOHOL ETF | Other | 3,640,287 | 0.75 | 0 | Unknown | |
| New China Life Insurance Co., Ltd. - Traditional-General Insurance Product－ 018L－CT001 Shanghai | Other | 3,577,351 | 0.74 | 0 | Unknown | |
| New China Life Insurance Co., Ltd. - Dividends－Personal Dividends－018L－FH002 Shanghai | Other | 3,534,215 | 0.73 | 0 | Unknown | |
| One-one-zero portfolio of National Social Security Fund | Other | 3,241,838 | 0.67 | 0 | Unknown | |
| China Construction Bank Corporation - E Fund CSI 300 ETF | Other | 3,026,710 | 0.63 | 0 | Unknown | |
| Industrial and Commercial Bank of China Co., Ltd.-Baoying Quality Selection Hybrid Securities Investment Fund | Other | 3,000,000 | 0.62 | 0 | Unknown | |
| Shareholdings of top 10 unrestricted shareholders (excluding refinancing shares lent) | ||||||
| Name of shareholder | Number of outstanding unrestricted shares held | Share category and quantity | ||||
| Share category | Amount | |||||
| Carlsberg Brewery Hong Kong Limited | 205,882,718 | RMB ordinary shares | 205,882,718 | |||
| CARLSBERG CHONGQING LIMITED | 84,500,000 | RMB ordinary shares | 84,500,000 | |||
| Hong Kong Securities Clearing Co., Ltd. | 32,805,723 | RMB ordinary shares | 32,805,723 | |||
| Industrial and Commercial Bank of China Limited - Huatai-PineBridge CSI 300 ETF | 3,942,413 | RMB ordinary shares | 3,942,413 | |||
| China Construction Bank Corporation - PENGHUA CSI ALCOHOL ETF | 3,640,287 | RMB ordinary shares | 3,640,287 | |||
| New China Life Insurance Co., Ltd. - Traditional-General Insurance Product－ 018L－CT001 Shanghai | 3,577,351 | RMB ordinary shares | 3,577,351 | |||
| New China Life Insurance Co., Ltd. - Dividends－Personal Dividends－018L－FH002 Shanghai | 3,534,215 | RMB ordinary shares | 3,534,215 | |||
| One-one-zero portfolio of National Social Security Fund | 3,241,838 | RMB ordinary shares | 3,241,838 | |||
| China Construction Bank Corporation - E Fund CSI 300 ETF | 3,026,710 | RMB ordinary shares | 3,026,710 | |||
| Industrial and Commercial Bank of China Co., Ltd.-Baoying Quality Selection Hybrid Securities Investment Fund | 3,000,000 | RMB ordinary shares | 3,000,000 |
| Remarks on related-party relationships among the aforesaid shareholders or actions in concert | Among the top 10 unrestricted shareholders, CARLSBERG CHONGQING LIMITED and Carlsberg Brewery Hong Kong Limited are both controlled by Carlsberg Breweries A/S. It is unknown whether the other shareholders are related to each other and whether the other shareholders are acting in concert. | ||
Refinancing shares lent by shareholders holding more than 5% shares, the top 10 shareholders andthe top 10 unrestricted public shareholders
√ Applicable □ N/A
Unit: share
| Refinancing shares lent by shareholders holding more than 5% shares, the top 10 shareholders and the top 10 unrestricted public shareholders | ||||||||
| Name of shareholder (full name) | Beginning shareholding of ordinary accounts and credit accounts | Beginning refinancing shares lent and not yet returned | Ending shareholding of ordinary accounts and credit accounts | Ending refinancing shares lent and not yet returned | ||||
| Quantity Total | Percentage (%) | Quantity Total | Percentage (%) | Quantity Total | Percentage (%) | Quantity Total | Percentage (%) | |
| Industrial and Commercial Bank of China Limited - Huatai-PineBridge CSI 300 ETF | 2,630,413 | 0.54 | 2,200 | 0.001 | 3,942,413 | 0.81 | 0 | 0 |
| China Construction Bank Corporation - PENGHUA CSI ALCOHOL ETF | 3,130,552 | 0.65 | 301,400 | 0.06 | 3,640,287 | 0.75 | 0 | 0 |
| China Construction Bank Corporation - E Fund CSI 300 ETF | 1,873,800 | 0.39 | 15,300 | 0.003 | 3,026,710 | 0.63 | 0 | 0 |
Changes in the top 10 shareholders and the top 10 unrestricted public shareholders due torefinancing lending/restitution compared with the previous period
□Applicable √N/A
IV. Other remindersOther important information about the company’s operations during the reporting period thatinvestors should be reminded of.
□Applicable √N/A
V. Quarterly Financial Statements(I) Audit Opinion
□Applicable √N/A
(II) Financial Statements
Consolidated Balance Sheet
As of September 30, 2024Prepared by: Chongqing Brewery Co., Ltd.
Unit: yuan Currency: RMB Audit type: Unaudited
| Items | September 30, 2024 | December 31, 2023 |
| Current assets: | ||
| Cash and bank balances | 3,238,127,138.33 | 2,712,720,235.65 |
| Settlement funds | ||
| Loans to other banks | ||
| Held-for-trading financial assets | 501,245,890.41 | 360,202,000.00 |
| Derivative financial assets | 34,123,684.48 | 14,392,732.78 |
| Notes receivable | ||
| Accounts receivable | 156,019,471.02 | 64,628,136.06 |
| Receivables financing | ||
| Advances paid | 25,602,683.38 | 41,831,987.46 |
| Premiums receivable | ||
| Reinsurance accounts receivable | ||
| Reinsurance reserve receivable | ||
| Other receivables | 23,801,945.76 | 23,987,973.67 |
| Including: Interest receivable | ||
| Dividend receivable | ||
| Financial assets under reverse repo | ||
| Inventories | 1,636,747,785.39 | 2,100,354,952.29 |
| Including: Data resources | ||
| Contract assets | ||
| Assets held for sale | ||
| Non-current assets due within one year | ||
| Other current assets | 138,756,967.64 | 146,488,217.09 |
| Total current assets | 5,754,425,566.41 | 5,464,606,235.00 |
| Non-current assets: | ||
| Loans and advances | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 198,000,693.40 | 140,608,195.59 |
| Other equity instrument investments | 17,156,286.50 | 16,625,962.83 |
| Items | September 30, 2024 | December 31, 2023 |
| Other non-current financial assets | ||
| Investment property | ||
| Fixed assets | 4,786,573,480.68 | 3,673,993,109.60 |
| Construction in progress | 195,049,890.22 | 783,503,734.86 |
| Productive biological assets | ||
| Oil & gas assets | ||
| Right-of-use assets | 135,264,028.22 | 153,497,044.09 |
| Intangible assets | 652,527,528.46 | 677,053,982.74 |
| Including: Data resources | ||
| Development expenditures | ||
| Including: Data resources | ||
| Goodwill | 699,192,456.06 | 699,192,456.06 |
| Long-term prepayments | ||
| Deferred tax assets | 712,403,590.69 | 679,012,008.03 |
| Other non-current assets | 126,710.86 | 98,818,865.15 |
| Total non-current assets | 7,396,294,665.09 | 6,922,305,358.95 |
| Total assets | 13,150,720,231.50 | 12,386,911,593.95 |
| Current liabilities: | ||
| Short-term borrowings | ||
| Central bank loans | ||
| Loans from other banks | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | 15,408,026.80 | |
| Notes payable | ||
| Accounts payable | 3,383,117,867.18 | 2,607,629,899.17 |
| Advances received | ||
| Contract liabilities | 1,611,282,973.24 | 1,666,791,670.83 |
| Financial liabilities under repo | ||
| Absorbing deposit and interbank deposit | ||
| Deposit for agency security transaction | ||
| Deposit for agency security underwriting | ||
| Employee benefits payable | 349,171,681.87 | 409,937,660.39 |
| Taxes and rates payable | 373,820,204.11 | 86,479,764.60 |
| Other payables | 2,506,044,987.10 | 3,326,996,153.10 |
| Including: Interest payable | ||
| Dividend payable | ||
| Handling fee and commission payable | ||
| Reinsurance accounts payable | ||
| Liabilities held for sale |
| Items | September 30, 2024 | December 31, 2023 |
| Non-current liabilities due within one year | 40,331,196.42 | 42,382,811.96 |
| Other current liabilities | 14,024,457.87 | 26,113,341.32 |
| Total current liabilities | 8,277,793,367.79 | 8,181,739,328.17 |
| Non-current liabilities: | ||
| Insurance policy reserve | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | 107,091,188.09 | 121,370,635.09 |
| Long-term payables | ||
| Long-term employee benefits payable | 148,026,952.36 | 150,981,389.59 |
| Provisions | 24,784,152.29 | 25,219,093.79 |
| Deferred income | 225,215,447.18 | 247,646,473.34 |
| Deferred tax liabilities | 6,830,396.66 | 7,806,126.04 |
| Other non-current liabilities | ||
| Total non-current liabilities | 511,948,136.58 | 553,023,717.85 |
| Total liabilities | 8,789,741,504.37 | 8,734,763,046.02 |
| Equity: | ||
| Share capital | 483,971,198.00 | 483,971,198.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserve | 21,376,252.00 | 16,022,535.00 |
| Less: Treasury shares | ||
| Other comprehensive income | -2,459,119.36 | -16,085,442.20 |
| Special reserve | ||
| Surplus reserve | 241,985,599.00 | 241,985,599.00 |
| General risk reserve | ||
| Undistributed profit | 1,391,156,098.66 | 1,414,306,729.77 |
| Total equity attributable to the parent company | 2,136,030,028.30 | 2,140,200,619.57 |
| Non-controlling interest | 2,224,948,698.83 | 1,511,947,928.36 |
| Total equity | 4,360,978,727.13 | 3,652,148,547.93 |
| Total liabilities & equity | 13,150,720,231.50 | 12,386,911,593.95 |
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, 2024Prepared by: Chongqing Brewery Co., Ltd.
Unit: yuan Currency: RMB Audit type: Unaudited
| Items | For the three quarters ended September 30, 2024 | For the three quarters ended September 30, 2023 |
| I. Total operating revenue | 13,062,996,755.34 | 13,028,681,199.38 |
| Including: Operating revenue | 13,062,996,755.34 | 13,028,681,199.38 |
| Interest income | ||
| Premiums earned | ||
| Revenue from handling charges and commission | ||
| II. Total operating cost | 9,833,537,105.39 | 9,722,652,274.27 |
| Including: Operating cost | 6,635,809,947.00 | 6,619,347,583.95 |
| Interest expenses | ||
| Handling charges and commission expenditures | ||
| Surrender value | ||
| Net payment of insurance claims | ||
| Net provision of insurance policy reserve | ||
| Premium bonus expenditures | ||
| Reinsurance expenses | ||
| Taxes and surcharges | 832,648,589.06 | 827,451,760.22 |
| Selling expenses | 1,968,554,933.38 | 1,941,461,094.31 |
| Administrative expenses | 404,430,989.34 | 367,928,294.34 |
| R&D expenses | 16,013,138.98 | 13,349,414.97 |
| Financial expenses | -23,920,492.37 | -46,885,873.52 |
| Including: Interest expenses | 5,380,623.23 | 3,453,072.62 |
| Interest income | 33,313,114.09 | 54,414,874.17 |
| Add: Other income | 41,914,754.77 | 39,522,652.39 |
| Investment income (or less: losses) | 69,037,837.98 | 63,128,833.64 |
| Including: Investment income from associates and joint ventures | 57,392,497.81 | 60,797,041.80 |
| Gains from derecognition of financial assets at amortized cost | ||
| Gains on foreign exchange (or less: losses) | ||
| Gains on net exposure to hedging risk (or less: losses) | ||
| Gains on changes in fair value (or less: losses) | 1,245,890.41 | 170,000.00 |
| Credit impairment loss | -7,438,203.02 | -4,325,186.51 |
| Items | For the three quarters ended September 30, 2024 | For the three quarters ended September 30, 2023 |
| Assets impairment loss | -31,874,043.29 | -37,070,931.38 |
| Gains on asset disposal (or less: losses) | 1,566,720.61 | -553,378.44 |
| III. Operating profit (or less: losses) | 3,303,912,607.41 | 3,366,900,914.81 |
| Add: Non-operating revenue | 15,378,689.36 | 4,504,807.87 |
| Less: Non-operating expenditures | 4,898,142.74 | 2,698,594.21 |
| IV. Profit before tax (or less: total loss) | 3,314,393,154.03 | 3,368,707,128.47 |
| Less: Income tax expenses | 647,787,850.61 | 659,736,629.17 |
| V. Net profit (or less: net loss) | 2,666,605,303.42 | 2,708,970,499.30 |
| (I) Categorized by the continuity of operations | ||
| 1. Net profit from continuing operations (or less: net loss) | 2,666,607,311.93 | 2,708,963,284.50 |
| 2. Net profit from discontinued operations (or less: net loss) | -2,008.51 | 7,214.80 |
| (II) Categorized by the portion of equity ownership | ||
| 1. Net profit attributable to owners of parent company (or less: net loss) | 1,331,968,723.29 | 1,344,089,296.32 |
| 2. Net profit attributable to non-controlling shareholders (or less: net loss) | 1,334,636,580.13 | 1,364,881,202.98 |
| VI. Other comprehensive income after tax | 26,510,560.60 | -8,544,380.97 |
| (I) Items attributable to the owners of the parent company | 13,626,322.84 | -4,386,299.89 |
| 1.Not to be reclassified subsequently to profit or loss | 204,519.32 | 492,505.48 |
| (1) Remeasurements of the net defined benefit plan | ||
| (2) Items under equity method that will not be reclassified to profit or loss | ||
| (3) Changes in fair value of other equity instrument investments | 204,519.32 | 492,505.48 |
| (4) Changes in fair value of own credit risk | ||
| 2. To be reclassified subsequently to profit or loss | 13,421,803.52 | -4,878,805.37 |
| (1) Items under equity method that may be reclassified to profit or loss | ||
| (2) Changes in fair value of other debt investments | ||
| Items | For the three quarters ended September 30, 2024 | For the three quarters ended September 30, 2023 |
| (3) Profit or loss from reclassification of financial assets into other comprehensive income | ||
| (4) Provision for credit impairment of other debt investments | ||
| (5) Cash flow hedging reserve | 13,421,803.52 | -4,878,805.37 |
| (6) Translation reserve | ||
| (7) Others | ||
| (II) Items attributable to non-controlling shareholders | 12,884,237.76 | -4,158,081.08 |
| VII. Total comprehensive income | 2,693,115,864.02 | 2,700,426,118.33 |
| (I) Items attributable to the owners of the parent company | 1,345,595,046.13 | 1,339,702,996.43 |
| (II) Items attributable to non-controlling shareholders | 1,347,520,817.89 | 1,360,723,121.90 |
| VIII. Earnings per share (EPS): | ||
| (I) Basic EPS (yuan per share) | 2.75 | 2.78 |
| (II) Diluted EPS (yuan per share) | 2.75 | 2.78 |
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, 2024Prepared by: Chongqing Brewery Co., Ltd.
Unit: yuan Currency: RMB Audit type: Unaudited
| Items | For the three quarters ended September 30, 2024 | For the three quarters ended September 30, 2023 |
| I. Cash flows from operating activities: | ||
| Cash receipts from sale of goods or rendering of services | 13,735,917,329.61 | 13,729,002,139.22 |
| Net increase of client deposit and interbank deposit | ||
| Net increase of central bank loans | ||
| Net increase of loans from other financial institutions | ||
| Cash receipts from original insurance contract premium | ||
| Net cash receipts from reinsurance | ||
| Net increase of policy-holder deposit and investment | ||
| Cash receipts from interest, handling charges and commission | ||
| Net increase of loans from others | ||
| Net increase of repurchase | ||
| Net cash receipts from agency security transaction | ||
| Receipts of tax refund | 23,556,919.53 | 104,862,956.31 |
| Other cash receipts related to operating activities | 317,618,559.18 | 351,728,190.21 |
| Subtotal of cash inflows from operating activities | 14,077,092,808.32 | 14,185,593,285.74 |
| Cash payments for goods purchased and services received | 5,662,985,062.91 | 5,657,350,566.51 |
| Net increase of loans and advances to clients | ||
| Net increase of central bank deposit and interbank deposit | ||
| Cash payments for insurance indemnities of original insurance contracts | ||
| Net increase of loans to others | ||
| Cash payments for interest, handling charges and commission | ||
| Cash payments for policy bonus | ||
| Items | For the three quarters ended September 30, 2024 | For the three quarters ended September 30, 2023 |
| Cash paid to and on behalf of employees | 1,320,328,064.50 | 1,154,628,762.78 |
| Cash payments for taxes and rates | 2,085,921,653.28 | 2,280,400,071.15 |
| Other cash payments related to operating activities | 1,546,060,510.57 | 1,374,902,242.12 |
| Subtotal of cash outflows from operating activities | 10,615,295,291.26 | 10,467,281,642.56 |
| Net cash flows from operating activities | 3,461,797,517.06 | 3,718,311,643.18 |
| II. Cash flows from investing activities: | ||
| Cash receipts from withdrawal of investments | 861,560,168.27 | 1,987,185.53 |
| Cash receipts from investment income | 287,171.90 | 344,606.28 |
| Net cash receipts from the disposal of fixed assets, intangible assets and other long-term assets | 48,907.03 | 747,600.96 |
| Net cash receipts from the disposal of subsidiaries & other business units | ||
| Other cash receipts related to investing activities | ||
| Subtotal of cash inflows from investing activities | 861,896,247.20 | 3,079,392.77 |
| Cash payments for the acquisition of fixed assets, intangible assets and other long-term assets | 784,642,978.84 | 568,174,243.39 |
| Cash payments for investments | 990,000,000.00 | 360,000,000.00 |
| Net increase of pledged borrowings | ||
| Net cash payments for the acquisition of subsidiaries & other business units | ||
| Other cash payments related to investing activities | ||
| Subtotal of cash outflows from investing activities | 1,774,642,978.84 | 928,174,243.39 |
| Net cash flows from investing activities | -912,746,731.64 | -925,094,850.62 |
| III. Cash flows from financing activities: | ||
| Cash receipts from absorbing investments | ||
| Including: Cash received by subsidiaries from non-controlling shareholders as investments | ||
| Items | For the three quarters ended September 30, 2024 | For the three quarters ended September 30, 2023 |
| Cash receipts from borrowings | ||
| Other cash receipts related to financing activities | ||
| Subtotal of cash inflows from financing activities | ||
| Cash payments for the repayment of borrowings | ||
| Cash payments for distribution of dividends or profits and for interest expenses | 1,989,639,401.82 | 1,292,249,785.12 |
| Including: Cash paid by subsidiaries to non-controlling shareholders as dividend or profit | 634,520,047.42 | 33,924,670.32 |
| Other cash payments related to financing activities | 31,991,255.80 | 20,021,948.58 |
| Subtotal of cash outflows from financing activities | 2,021,630,657.62 | 1,312,271,733.70 |
| Net cash flows from financing activities | -2,021,630,657.62 | -1,312,271,733.70 |
| IV. Effect of foreign exchange rate changes on cash & cash equivalents | ||
| V. Net increase in cash and cash equivalents | 527,420,127.80 | 1,480,945,058.86 |
| Add: Opening balance of cash and cash equivalents | 2,700,076,206.04 | 3,396,809,241.14 |
| VI. Closing balance of cash and cash equivalents | 3,227,496,333.84 | 4,877,754,300.00 |
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 2024 that involveadjustments to the financial statements at the beginning of the year of first adoption.
□ Applicable √ Not applicable
Hereby announced.
Board of Directors of Chongqing Brewery Co., Ltd.
October 30, 2024