泸州老窖：2021年第一季度报告全文（英文版）.PDF

《泸州老窖：2021年第一季度报告全文（英文版）.PDF》由会员分享，可在线阅读，更多相关《泸州老窖：2021年第一季度报告全文（英文版）.PDF（34页珍藏版）》请在淘文阁 - 分享文档赚钱的网站上搜索。

1、Q1 2021 Report of Luzhou Laojiao Co., Ltd. 1 Luzhou Laojiao Co., Ltd. Q1 2021 Report April 2021 Q1 2021 Report of Luzhou Laojiao Co., Ltd. 2 Section I Important Statements The Board of Directors, Board of Supervisors, other directors, supervisors and senior management except the following directors,

2、 supervisors and senior management with statements of objections 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

3、 contents. Other directors attended the board meeting to deliberate this report by themselves except the following directors. Name of directors who did not attend the meeting in person Position of directors who did not attend the meeting in person Reason for not attending the meeting in person Name

4、of deputies Wang Hongbo Director Work Lin Feng Tan Lili Independent director Work Xu Guoxiang Qian Xu Director Work Liu Miao Ying Hanjie Director Work Liu Miao Liu Miao, responsible person for the Company, Xie Hong, responsible person for accounting work and Yan Li, responsible person for the Compan

5、ys financial affairs (Accounting Supervisor) have warranted that the financial statements in this report are true, accurate and complete. This Report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese version sh

6、all prevail. Q1 2021 Report of Luzhou Laojiao Co., Ltd. 3 Section II Key Corporate Information 1. Key accounting data and financial indicators Whether the Company performed a retroactive adjustment to or restatement of accounting data. Yes No Q1 2021 Q1 2020 Change Operating revenues (CNY) 5,003,680

7、,377.12 3,552,467,494.03 40.85% Net profits attributable to shareholders of the Company (CNY) 2,166,766,179.07 1,707,145,859.72 26.92% Net profits attributable to shareholders of the Company before non-recurring gains and losses (CNY) 2,158,046,960.66 1,713,748,254.45 25.93% Net cash flows from oper

8、ating activities (CNY) 1,310,035,683.78 -316,284,597.30 Basic earnings per share (CNY/share) 1.48 1.17 26.50% Diluted earnings per share (CNY/share) 1.48 1.17 26.50% Weighted average ROE 8.97% 8.43% 0.54% 31 March 2021 31 December 2020 Change Total assets (CNY) 37,107,992,569.57 35,009,203,823.45 5.

9、99% Net assets attributable to shareholders of the Company (CNY) 25,230,083,810.41 23,074,858,552.59 9.34% Non-recurring profits and losses Applicable N/A Unit: CNY Item Q1 2021 Note Profit or loss from disposal of non-current assets (including the write-off portion of the impairment provision) -1,3

10、04.66 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 given at a fixed amount or quantity in accordance with the national uniform standards) 7,894,230.58 Other non-operating income and

11、expenditure except above-mentioned items 4,423,690.12 Q1 2021 Report of Luzhou Laojiao Co., Ltd. 4 Less: Corporate income tax 3,005,152.80 Minority interests (after tax) 592,244.83 Total 8,719,218.41 - Explain the reasons if the Company classifies an item as a non-recurring profit/loss according to

12、the definition in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public-Non-Recurring Profits and Losses, or classifies any non-recurring profit/loss item mentioned in the said explanatory announcement as a recurring profit/loss item. Appl

13、icable N/A No such cases for the reporting period. 2. Total number of shareholders and shareholdings of top 10 shareholders at the end of the reporting period 2.1 Total numbers of common shareholders and preferred shareholders with resumed voting rights as well as shareholdings of top 10 shareholder

14、s Unit：Share Total number of common shareholders at the end of the reporting period 156,207 Total number of preferred 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

15、percentage Total shares held Number of holding restricted shares Pledged or frozen shares Status of shares Number of shares Luzhou Laojiao Group Co., Ltd. State-owned corporation 26.02% 381,088,389 0 Luzhou XingLu Investment Group Co., Ltd. State-owned corporation 24.99% 365,971,142 0 Pledged 101,98

16、0,000 Bank of China Co., Ltd. Liquor index classification securities investment fund by China Merchants Fund Other 2.41% 35,339,168 0 China Securities Finance Corporation limited Other 2.31% 33,842,059 0 Bank of China Co., Other 2.03% 29,800,044 0 Q1 2021 Report of Luzhou Laojiao Co., Ltd. 5 Ltd.Blu

17、e chip selected hybrid securities investment fund by E Fund Hong Kong Securities Clearing Company Limited Foreign corporation 2.00% 29,337,435 0 Industrial and Commercial Bank of China Co., Ltd.-Newly growth hybrid securities investment fund by Invesco Great Wall Other 1.50% 21,960,000 0 Central Hui

18、jin Asset Management Co., Ltd. State-owned corporation 1.43% 20,937,500 0 Agricultural Bank of China Co., Ltd. - Consumption industry stock - based securities investment fund by E Fund Other 0.91% 13,318,732 0 China Life Insurance Company Ltd.-Tradition-General Insurance Product-005L-CT001Shen Other

19、 0.76% 11,062,270 0 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 sha

20、res 365,971,142 Bank of China Co., Ltd. Liquor index classification securities investment fund 35,339,168 CNY common shares 35,339,168 Q1 2021 Report of Luzhou Laojiao Co., Ltd. 6 by China Merchants Fund China Securities Finance Corporation limited 33,842,059 CNY common shares 33,842,059 Bank of Chi

21、na Co., Ltd.Blue chip selected hybrid securities investment fund by E Fund 29,800,044 CNY common shares 29,800,044 Hong Kong Securities Clearing Company Limited 29,337,435 CNY common shares 29,337,435 Industrial and Commercial Bank of China Co., Ltd.-Newly growth hybrid securities investment fund by

22、 Invesco Great Wall 21,960,000 CNY common shares 21,960,000 Central Huijin Asset Management Co., Ltd. 20,937,500 CNY common shares 20,937,500 Agricultural Bank of China Co., Ltd. - Consumption industry stock - based securities investment fund by E Fund 13,318,732 CNY common shares 13,318,732 China L

23、ife Insurance Company Ltd.-Tradition-General Insurance Product-005L-CT001Shen 11,062,270 CNY common shares 11,062,270 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 S

24、ASAC 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

25、-1 (http:/ 2. In addition, whether there is an association between the remaining shareholders or they belong to persons acting in concert is unknown. Did any of the top 10 common shareholders or the top non-restricted common shareholders of the Company conduct any promissory repurchase during the re

26、porting period. Yes No The top 10 non-restricted common shareholders, the top10 common shareholders did not conduct any promissory repurchase during the reporting period. 2.2 Total number of preferred shareholders and shareholdings of the top 10 preferred shareholders Applicable N/A Q1 2021 Report o

27、f Luzhou Laojiao Co., Ltd. 7 Section III Significant Events 1. Changes in key financial data and indicators in the reporting period and reasons for the changes Applicable N/A A. The closing balance of prepayment increased by CNY 71,986,457.31 compared to the opening balance, indicating an increase o

28、f 96.39%. It was mainly due to the increased prepayment to suppliers. B. The closing balance of notes payable decreased by CNY 69,235,000.00 compared to the opening balance, indicating a decrease of 57.08%. It was mainly due to the settlement of notes payable upon maturity. C. Operating revenue in t

29、he current period increased by CNY 1,451,212,883.09 compared to the same period of last year, indicating an increase of 40.85%. It was mainly due to the increased sales revenue from mid- and high-end liquor in the current period. D. Cost of sales in the current period increased by CNY 231,543,797.07

30、 compared to the same period of last year, indicating an increase of 49.58%. It was mainly due to the increased sales revenue in the current period. E. Taxes and surcharges in the current period increased by CNY 438,590,342.72 compared to the same period of last year, indicating an increase of 208.9

31、7%. It was mainly due to the increased sales revenue in the current period. F. Selling and distribution expenses in the current period increased by CNY 188,886,021.38 compared to the same period of last year, indicating an increase of 38.90%. It was mainly due to the increased marketing and promotio

32、n expenses in the current period. G. Non-operating expenses in the current period decreased by CNY 15,853,443.05 compared to the same period of last year, indicating a decrease of 76.88%. It was mainly due to the decreased donations in the current period. H. Net cash flows from operating activities

33、in the current period increased by CNY 1,626,320,281.08 compared to the same period of last year. It was mainly due to the increased cash received from sale of goods in the current period. I. Net cash flows from financing activities in the current period decreased by CNY 1,546,057,529.03 compared to

34、 the same period of last year. It was mainly due to the issuance of corporate bonds in the same period of last year. 2. Progress, influence and solutions with regard to significant events Applicable N/A A. The Companys three savings deposits of CNY 500 million, including ABC Changsha Yingxin Branch

35、and ICBC Nanyang Zhongzhou Branch are involved in contract disputes. The Company has reported to the public security authorities for intervention with the assets preservation measure and filed civil claims for two contract disputes among the three cases. Combined with the assets preservation situati

36、on of the public security authorities and professional legal advice issued by lawyers, the Company has made a Q1 2021 Report of Luzhou Laojiao Co., Ltd. 8 provision of CNY 200 million for bad debts for the deposit of CNY 500 million for contract disputes. The Supreme Peoples Court made a final judgm

37、ent on the dispute arising out of the deposit contract between the Company and ABC Changsha Yingxin Branch. In respect of the losses that couldnt be recovered through criminal procedures, ABC Changsha Yingxin Branch should bear 40% of the compensation liability, ABC Changsha Hongxing Branch 20%, and

38、 the remaining losses should be borne by the Company. The Company applied to Hunan Province Higher Peoples Court for enforcement of the verdict. Hunan Province Higher Peoples Court has filed the case and ruled that Hunan Changsha Intermediate Peoples Court should see to the execution of the verdict.

39、 Henan Province Higher Peoples Court had made the judgment of the first trial on the lawsuit of the Company with ICBC Nanyang Zhongzhou Branch over a deposit dispute: for the losses that the Company cannot recover through criminal execution procedures, 50% shall be borne by ICBC Nanyang Zhongzhou Br

40、anch; for the losses that the Company cannot recover through criminal execution procedures concerning CNY 122.1 million of principal in the case, 10% shall be borne by Sanya Rural Commercial Bank Hongsha Branch, and the rest shall be borne by the Company itself. As of 31 March 2021, the Company had

41、recovered an amount of CNY 214,955,100 for three of the disputes. See details in the Companys announcements: Date of announcement No. Catalogue Official website 15 October 2014 2014-35 Announcement of significant litigation http:/ 12 November 2014 2014-41 Announcement of significant litigation progr

42、ess 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 201

43、5 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 Jul

44、y 2015 2015-45 Announcement of significant litigation progress part VII 6 June 2018 2018-17 Announcement of significant Q1 2021 Report of Luzhou Laojiao Co., Ltd. 9 litigation progress part VIII 7 May 2019 2019-11 Announcement of significant litigation progress part IX 17 May 2019 2019-13 Announceme

45、nt 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 7 November 2020 2020-34 Announcement of significant litigation progress part XIII B. The Company discl

46、osed the technical renovation project of brewing invested by Brewing Company, a subsidiary of the Company. The total investment amount is CNY 7,414,280,000. See details in the announcement disclosed on 28 April 2016 About subsidiary technical renovation project of brewing , No：2016-12 (http:/ Based

47、on actual needs arising from the construction of the project, the Company convened a general meeting on 30 June 2020, at which the Proposal on Increasing Investment in the Technical Renovation Project of Brewing was approved. As such, the total project investment was increased to CNY 8,877,276,500.

48、For more information, please refer to the following announcements: Announcement No. 2020-17 on Increasing Investment in the Technical Renovation Project of Brewing disclosed on 2 June 2020; and Announcement No. 2020-20 on the Resolutions of the 2019 Annual General Meeting disclosed on 1 July 2020 (b

49、oth disclosed on http:/ As of the end of the reporting period, construction was completed for the project, with the project image progress reaching 100%. Quality inspection and acceptance of the relevant sub-projects was finished. Other inspection and acceptance, as well as settlement were progressi

50、ng in an orderly manner. C. The Company decides to implement the Accounting Standards for Enterprises No. 21-Lease (C.K. 2018 No. 35) since 1 January 2021, which was revised and published by the Ministry of Finance. According to the new standards, there are no leasing businesses in the Company that