泸州老窖：2022年第三季度报告（英文版）.PDF

Q3 2022 Report of Luzhou Laojiao Co.,Ltd.1 Stock Code:000568 Stock abbreviation:Luzhou Laojiao Announcement No.2022-59 Luzhou Laojiao Co.,Ltd.Q3 2022 Report Luzhou Laojiao Co.,Ltd.(hereinafter referred to as the“Company”)and all the members of the Companys Board of Directors hereby guarantee that the contents of this Report are true,accurate and complete and free of any misrepresentations,misleading statements or material omissions.Important Statements:1.The Board of Directors,Board of Supervisors,directors,supervisors and senior management guarantee that the information presented in this report is free of any false records,misleading statements or material omissions,and shall individually and together be legally liable for truthfulness,accuracy and completeness of its contents.2.The responsible person for the Company,the responsible person for accounting work and the responsible person for the Companys financial affairs(Accounting Supervisor)have warranted that the financial statements in this report are true,accurate and complete.3.Whether the financial statements of this report have been audited by an auditor Yes No This report has been prepared in both Chinese and English.Should there be any discrepancies or misunderstandings 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.Yes No Q3 2022 YoY change Q1-Q3 2022 YoY change Operating revenues(CNY)5,860,457,699.51 22.28%17,524,835,252.45 24.20%Net profits attributable to shareholders of the 2,685,377,572.64 31.05%8,217,303,913.08 30.94%Q3 2022 Report of Luzhou Laojiao Co.,Ltd.2 Company(CNY)Net profits attributable to shareholders of the Company before non-recurring gains and losses(CNY)2,670,975,274.37 29.14%8,167,241,116.87 30.12%Net cash flows from operating activities(CNY)6,312,342,160.13 59.56%Basic earnings per share(CNY/share)1.83 30.71%5.59 30.61%Diluted earnings per share(CNY/share)1.83 30.71%5.59 30.61%Weighted average ROE 9.39%0.94%27.35%2.13%30 September 2022 31 December 2021 Change Total assets(CNY)43,472,427,404.76 43,211,782,005.68 0.60%Net assets attributable to shareholders of the Company(CNY)31,834,827,306.16 28,040,247,005.94 13.53%1.2 Non-recurring gains and losses Applicable N/A Unit:CNY Item Q3 2022 Q1-Q3 2022 Note Gain or loss from disposal of non-current assets(including the write-off portion of the impairment provision)0.00 19,789,402.07 Government grants accounted for,in the profit or loss for the current period(except for the government grants closely related to the business of the Company and continually given at a fixed amount or quantity in accordance with the national policies and standards)1,893,563.05 11,034,759.43 Gain or loss on fair-value changes on held-for-trading financial assets and liabilities&income from disposal of held-for-trading financial assets and liabilities and available-for-sale financial assets(exclusive of the effective portion of hedges that arise in the Companys ordinary course of business)14,351,771.05 25,042,544.66 Other non-operating income and expenditure except above-mentioned items 2,943,747.33 12,130,471.15 Less:Corporate income tax 4,786,668.37 16,717,503.81 Minority interests 114.79 1,216,877.29 Q3 2022 Report of Luzhou Laojiao Co.,Ltd.3(after tax)Total 14,402,298.27 50,062,796.21-Other items that meet the definition of non-recurring gain/loss:Applicable N/A No such cases for the reporting period.Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public-Non-Recurring Gains and Losses as a recurring gain/loss item.Applicable N/A No such cases for the reporting period.1.3 Changes in key financial data and indicators and reasons for the changes Applicable N/A A.The closing balance of held-for-trading financial assets increased by CNY 603,550,156.75 compared to the opening balance at the beginning of the year,indicating an increase of 85.45%.It was mainly due to the purchase of wealth management product(collective asset management plan)from securities firm in the current period.B.The closing balance of accounts receivables financing decreased by CNY 2,177,074,476.67 compared to the opening balance at the beginning of the year,indicating a decrease of 45.76%.It was mainly due to the discounted notes and the payments for notes that became due in the current period.C.The closing balance of other current assets decreased by CNY 93,316,509.91 compared to the opening balance at the beginning of the year,indicating a decrease of 83.34%.It was mainly due to the rebates of the overpaid value-added taxes in the current period.D.The closing balance of investments in other equity instruments increased by CNY 626,694,109.96 compared to the opening balance at the beginning of the year,indicating an increase of 172.49%.It was mainly due to the new equity investment in China Tourism Group Duty Free Corporation Limited.E.The closing balance of construction in progress decreased by CNY 612,811,224.12 compared to the opening balance at the beginning of the year,indicating a decrease of 48.64%.It was mainly due to that improvement and technical renovation projects for production support purposes that had been completed and met the expected conditions for use were transferred to fixed assets in the current period.F.The closing balance of deferred tax assets decreased by CNY 555,192,636.41 compared to the opening balance at the beginning of the year,indicating a decrease of 56.30%.It was mainly due to the decreased unrealized profits of internal transactions in the current period.G.The closing balance of contract liabilities decreased by CNY 1,609,645,191.76 compared to the opening balance at the beginning of the year,indicating a decrease of 45.86%;and the closing balance of other current liabilities decreased by CNY 209,253,874.93 compared to the opening balance at the Q3 2022 Report of Luzhou Laojiao Co.,Ltd.4 beginning of the year,indicating a decrease of 45.86%.It was mainly due to the decreased advances from customers in the current period.H.The closing balance of taxes payable decreased by CNY 1,738,762,573.81 compared to the opening balance at the beginning of the year,indicating a decrease of 54.79%.It was mainly due to the payment in the current period of taxes payable as at the end of last year.I.The closing balance of other payable increased by CNY 603,833,719.88 compared to the opening balance at the beginning of the year,indicating an increase of 92.56%.It was mainly due to the liabilities recognized on repurchase obligations under the restricted share incentive plan.J.The closing balance of long-term loans increased by CNY 2,480,000,000.00 compared to the opening balance at the beginning of the year.It was mainly due to the receipt of bank loan in the current period.K.The closing balance of bonds payable decreased by CNY 2,493,633,042.12 compared to the opening balance at the beginning of the year,indicating a decrease of 62.48%.It was mainly due to the put-back of the“19 Lao Jiao 01”bonds in the current period.L.Research and Development expenses in the current Q1-Q3 period increased by CNY 68,703,352.19 compared to the same period of last year,indicating an increase of 99.74%.It was mainly due to the increased comprehensive research and development investments in the current period.M.Investment income in the current Q1-Q3 period decreased by CNY 111,328,133.56 compared to the same period of last year,indicating a decrease of 62.82%.It was mainly due to the decreased earnings of investee.N.Net profits attributable to shareholders of the Company in the current Q1-Q3 period increased by CNY 1,941,802,491.53 compared to the same period of last year,indicating an increase of 30.94%;and income tax expenses in the current Q1-Q3 period increased by CNY 694,049,708.67 compared to the same period of last year,indicating an increase of 34.46%.It was mainly due to the increased sales revenue from baijiu and the correspondingly increased profit in the current period.O.Net cash flows from operating activities in the current Q1-Q3 period increased by CNY 2,356,289,255.96 compared to the same period of last year,indicating an increase of 59.56%.It was mainly due to the increased cash received from sale of goods in the current period.P.Net cash flows from investing activities in the current Q1-Q3 period decreased by CNY 658,250,495.45 compared to the same period of last year,indicating a decrease of 56.73%.It was mainly due to the purchase of wealth management product(collective asset management plan)from securities firm in the current period.Q.Net cash flows from financing activities in the current Q1-Q3 period decreased by CNY 1,122,196,868.00 compared to the same period of last year,indicating a decrease of 35.81%.It was mainly due to the increased cash paid for debt repayments and distribution of dividends in the current period.Q3 2022 Report of Luzhou Laojiao Co.,Ltd.5 2.Shareholder information 2.1 Total numbers of common shareholders and preference shareholders with resumed voting rights as well as shareholdings of top 10 shareholders Unit:Share Total number of common shareholders at the end of the reporting period 106,658 Total number of preference shareholders with resumed voting rights at the end of the reporting period(if any)0 Shareholdings of the top 10 shareholders Name of shareholder Nature of shareholder Shareholding percentage Total shares held Number of holding restricted shares Pledged,marked or frozen shares Status of shares Number of shares Luzhou Laojiao Group Co.,Ltd.State-owned corporation 25.89%381,088,389 Luzhou XingLu Investment Group Co.,Ltd.State-owned corporation 24.86%365,971,142 Hong Kong Securities Clearing Company Limited Outbound corporation 3.18%46,805,695 Bank of China Co.,Ltd.Baijiu index classification securities investment fund by China Merchants Fund Other 3.16%46,522,150 China Securities Finance Corporation Limited Other 2.30%33,842,059 Bank of China Co.,Ltd.Blue chip selected hybrid securities investment fund by E Fund Other 1.56%22,930,000 Industrial and Commercial Bank of China Co.,Ltd.-Newly growth hybrid securities investment fund by Invesco Great Wall Other 1.15%16,965,300 Central Huijin Asset State-owned corporation 0.92%13,539,862 Q3 2022 Report of Luzhou Laojiao Co.,Ltd.6 Management Co.,Ltd.Agricultural Bank of China Co.,Ltd.-Consumption industry stock-based securities investment fund by E Fund Other 0.72%10,573,293 China Life Insurance Company Ltd.-Tradition-Common Insurance Product-005L-CT001 Shen Other 0.53%7,870,900 Shareholdings of the top 10 non-restricted shareholders Name of shareholder Number of non-restricted shares held Type of shares Type Number Luzhou Laojiao Group Co.,Ltd.381,088,389 CNY common shares 381,088,389 Luzhou XingLu Investment Group Co.,Ltd.365,971,142 CNY common shares 365,971,142 Hong Kong Securities Clearing Company Limited 46,805,695 CNY common shares 46,805,695 Bank of China Co.,Ltd.Baijiu index classification securities investment fund by China Merchants Fund 46,522,150 CNY common shares 46,522,150 China Securities Finance Corporation Limited 33,842,059 CNY common shares 33,842,059 Bank of China Co.,Ltd.Blue chip selected hybrid securities investment fund by E Fund 22,930,000 CNY common shares 22,930,000 Industrial and Commercial Bank of China Co.,Ltd.-Newly growth hybrid securities investment fund by Invesco Great Wall 16,965,300 CNY common shares 16,965,300 Central Huijin Asset Management Co.,Ltd.13,539,862 CNY common shares 13,539,862 Agricultural Bank of China Co.,Ltd.-Consumption industry stock-based securities investment fund by E Fund 10,573,293 CNY common shares 10,573,293 China Life Insurance Company Ltd.-Tradition-Common Insurance Product-005L-CT001 Shen 7,870,900 CNY common shares 7,870,900 Related parties or acting-in-concert 1.Luzhou Laojiao Group Co.,Ltd.and Luzhou XingLu Investment Group Co.,Ltd.are both holding state-owned companies under the jurisdiction of SASAC of Luzhou.The two companies signed the agreement of persons acting in concert on 31 December 2015.For details,please refer to the announcement of the Company on 5 January 2016-Announcement on the agreement of persons acting in concert signed by shareholders.The announcement number is 2016-1(http:/ two companies signed the renewed agreement of persons acting Q3 2022 Report of Luzhou Laojiao Co.,Ltd.7 in concert on 27 May 2021.For details,please refer to the announcement of the Company on 29 May 2021-Announcement on the renewed agreement of persons acting in concert signed by shareholders.The announcement number is 2021-18(http:/ addition,whether there is an association between the remaining shareholders or they belong to persons acting in concert is unknown.Top 10 shareholders participating in securities margin trading(if any)N/A 2.2 Total number of preferred shareholders and shareholdings of the top 10 preferred shareholders Applicable N/A 3.Other significant events Applicable N/A A.The Company disclosed in October 2014 and January 2015 respectively the contract disputes involving three savings deposits of CNY 500 million in total with banks including ABC Changsha Yingxin Branch and ICBC Nanyang Zhongzhou Branch.Upon criminal booty recovery,criminal and civil enforcement,as of 30 September 2022,the Company had recovered a total amount of CNY 370.9505 million for the three disputes.See details in the Companys announcements:Date of announcement No.Catalogue Official website 15 October 2014 2014-35 Announcement of significant litigation http:/ November 2014 2014-41 Announcement of significant litigation progress 6 December 2014 2014-43 Announcement of significant litigation progress part II 10 January 2015 2015-1 Announcement of significant events 4 February 2015 2015-4 Announcement of significant events progress 25 March 2015 2015-11 Announcement of significant litigation progress part III 18 April 2015 2015-20 Announcement of significant litigation progress part IV 22 April 2015 2015-21 Announcement of significant events progress part II 24 April 2015 2015-25 Announcement of significant litigation progress part V 15 July 2015 2015-44 Announcement of significant litigation progress part VI 22 July 2015 2015-45 Announcement of significant litigation progress part VII 6 June 2018 2018-17 Announcement of significant litigation progress part VIII 7 May 2019 2019-11 Announcement of significant litigation progress part IX 17 May 2019 2019-13 Announcement of significant litigation progress part X 24 March 2020 2020-6 Announcement of significant litigation progress part XI 6 May 2020 2020-14 Announcement of significant litigation progress part XII Q3 2022 Report of Luzhou Laojiao Co.,Ltd.8 7 November 2020 2020-34 Announcement of significant litigation progress