ANHUI GUJING DISTILLERY COMPANY LIMITED THIRD QUARTERLY REPORT 2020 October 2020 Part I Important NotesThe Board of Directors (or the “Board”), the Supervisory Committee as well as the directors,supervisors and senior management of Anhui Gujing Distillery Company Limited (hereinafterreferred to as the “Company”) hereby guarantee that the contents of this Report and itssummary are true, accurate and complete and free of any misrepresentations, misleadingstatements or material omissions, and collectively and individually accept legal responsibilityfor such contents.All the Company’s directors have attended the Board meeting for the review of this Reportand its summary.Liang Jinhui, the Company’s legal representative, Ye Changqing, the Company’s ChiefAccountant, and Zhu Jiafeng, head of the Company’s financial department (equivalent tofinancial manager) hereby guarantee that the financial statements carried in this Report aretruthful, accurate and complete.This Report and its summary have been prepared in both Chinese and English. Should therebe any discrepancies or misunderstandings between the two versions, the Chinese versionsshall prevail. Part II Key Corporate InformationI Key Financial InformationIndicate by tick mark whether there is any retrospectively restated datum in the table below due to changes of accounting policies andcorrection of accounting errors . □ Yes √ No | 30 September 2020 | 31 December 2019 | Change (%) | | Total assets (RMB) | 14,982,605,356.77 | 13,871,297,363.16 | 8.01% | | Equity attributable to the listed company’s shareholders (RMB) | 9,726,392,768.50 | 8,944,111,764.44 | 8.75% | | Q3 2020 | YoY change (%) | Q1-Q3 2020 | YoY change (%) | | Operating revenue (RMB) | 2,549,799,986.43 | 15.13% | 8,069,420,987.05 | -1.63% | | Net profit attributable to the listed company’s shareholders (RMB) | 512,744,399.70 | 3.94% | 1,537,681,004.06 | -11.71% | | Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 493,142,445.93 | 10.97% | 1,501,061,314.45 | -6.79% | | Net cash generated from/used in operating activities (RMB) | 238,222,085.94 | -80.14% | 2,579,860,186.58 | 15.10% | | Basic earnings per share (RMB/share) | 1.02 | 4.08% | 3.05 | -11.85% | | Diluted earnings per share (RMB/share) | 1.02 | 4.08% | 3.05 | -11.85% | | Weighted average return on equity (%) | 5.73% | -1.22% | 16.25% | -4.93% |
| Item | Q1-Q3 2020 | Note | | Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | -1,831,774.42 | | | Government grants through profit or loss (exclusive of government grants given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s uniform standards) | 23,658,321.57 | |
| other debt investments (exclusive of the effective portion of hedges that arise in the Company’s ordinary course of business) | | | | Non-operating income and expense other than the above | 13,810,052.22 | | | Less: Income tax effects | 12,878,092.00 | | | Non-controlling interests effects (net of tax) | 2,620,097.20 | | | Total | 36,619,689.61 | -- |
| Number of ordinary shareholders | 31,889 | Number of preference shareholders with resumed voting rights (if any) | 0 | | Top 10 shareholders | | Name of shareholder | Nature of shareholder | Shareholding percentage | Total shares held | Restricted shares held | Shares in pledge or frozen | | Status | Shares | | ANHUI GUJING GROUP COMPANY LIMITED | State-owned corporation | 53.89% | 271,404,022 | | In pledge | 114,000,000 | | GAOLING FUND,L.P. | Foreign corporation | 2.47% | 12,446,408 | | | | | AGRICULTURAL BANK OF CHINA- E FUND CONSUMPTION SECTOR STOCK SECURITIES INVESTMENT | Other | 1.84% | 9,244,356 | | | |
| FUND | | | | | | | | CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD | Foreign corporation | 1.77% | 8,935,752 | | | | | UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) | Foreign corporation | 1.40% | 7,048,161 | | | | | CENTRAL HUIJIN ASSET MANAGEMENT CO., LTD. | State-owned corporation | 1.30% | 6,543,600 | | | | | HONG KONG SECURITIES CLEARING COMPANY LTD. | Foreign corporation | 1.20% | 6,038,008 | | | | | INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-JINGSHUN GREATWALL EMERGING GROWTH HYBRID SECURITIES INVESTMENT FUND | Other | 1.07% | 5,399,890 | | | | | BANK OF CHINA LIMITED-CHINA MERCHANTS CHINA SECURITIES LIQUOR INDEX CLASSIFICATION | Other | 0.95% | 4,805,671 | | | |
| SECURITIES INVESTMENT FUND | | | | | | | | GREENWOODS CHINA ALPHA MASTER FUND | Foreign corporation | 0.92% | 4,614,326 | | | | | Top 10 unrestricted shareholders | | Name of shareholder | Unrestricted ordinary shares held | Shares by class | | Class | Shares | | ANHUI GUJING GROUP COMPANY LIMITED | 271,404,022 | RMB-denominated ordinary share | 271,404,022 | | GAOLING FUND,L.P. | 12,446,408 | Domestically listed foreign share | 12,446,408 | | AGRICULTURAL BANK OF CHINA- E FUND CONSUMPTION SECTOR STOCK SECURITIES INVESTMENT FUND | 9,244,356 | RMB-denominated ordinary share | 9,244,356 | | CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD | 8,935,752 | Domestically listed foreign share | 8,935,752 | | UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) | 7,048,161 | Domestically listed foreign share | 7,048,161 | | CENTRAL HUIJIN ASSET MANAGEMENT CO., LTD. | 6,543,600 | RMB-denominated ordinary share | 6,543,600 | | HONG KONG SECURITIES CLEARING COMPANY LTD. | 6,038,008 | RMB-denominated ordinary share | 6,038,008 | | INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-JINGSHUN GREATWALL EMERGING GROWTH HYBRID SECURITIES INVESTMENT FUND | 5,399,890 | RMB-denominated ordinary share | 5,399,890 | | BANK OF CHINA LIMITED-CHINA MERCHANTS CHINA SECURITIES LIQUOR INDEX CLASSIFICATION SECURITIES INVESTMENT FUND | 4,805,671 | RMB-denominated ordinary share | 4,805,671 |
| GREENWOODS CHINA ALPHA MASTER FUND | 4,614,326 | Domestically listed foreign share | 4,614,326 | | Related or acting-in-concert parties among the shareholders above | Among the shareholders above, the Company’s controlling shareholder—Anhui Gujing Group Company Limited—is not a related party of other shareholders; nor are they parties acting in concert as defined in the Administrative Measures on Information Disclosure of Changes in Shareholding of Listed Companies. As for the other shareholders, the Company does not know whether they are related parties or whether they belong to parties acting in concert as defined in the Administrative Measures on Information Disclosure of Changes in Shareholding of Listed Companies. | | Top 10 shareholders engaged in securities margin trading (if any) | N/A |
Part III Significant EventsI Changes in Key Financial Statement Line Items and Explanation of why √ Applicable □ Not applicable | Balance sheet items | 30 September 2020 (RMB) | 31 December 2019 (RMB) | Change (%) | Main reason for change | | Held-for-trading financial assets | 231,879,146.44 | 509,031,097.02 | -54.45% | Disinvestment in wealth management product upon maturity | | Notes receivable | 1,711,528,281.95 | 1,004,217,431.56 | 70.43% | Increase in bank acceptance bills received | | Prepayments | 121,190,007.83 | 197,453,313.96 | -38.62% | Use of prepayment for advertising service as part of settlement | | Other receivables | 39,475,707.94 | 25,746,957.22 | 53.32% | Increase in prepayment for marketing service | | Construction in progress | 285,451,235.87 | 183,984,816.07 | 55.15% | Increases in investments in infrastructure and IT system | | Notes payable | 338,710,000.00 | 703,679,646.86 | -51.87% | Maturity of trade bill issued | | Other current liabilities | 267,972,091.29 | 197,484,121.41 | 35.69% | Increase in accrued expense | | Short-term borrowings | 70,325,500.00 | 0.00 | -- | Bank loan received by Yellow Crane Tower | | Income statement items (Q1-Q3) | Q1-Q3 2020 (RMB) | Q1-Q3 2019 (RMB) | Change (%) | Main reason for change | | Finance costs | -139,117,509.97 | -24,851,526.01 | -459.79% | Increase in interest income | | Other income | 23,491,542.76 | 44,662,596.55 | -47.40% | Decrease in tax and levy rebates | | Non-operating expense | 24,806,037.98 | 3,051,449.71 | 712.93% | Increase in donations in relation to the pandemic | | Cash flow statement items (Q1-Q3) | Q1-Q3 2020 (RMB) | Q1-Q3 2019 (RMB) | Change (%) | Main reason for change | | Net cash generated from/used in investing activities | -126,991,061.44 | 870,390,981.81 | -114.59% | Decrease in payments for investments |
III Commitments that the Company’s Actual Controller, Shareholders, Related Parties,Acquirers, the Company Itself or Other Relevant Parties, Failed to Fulfill on Time during theReporting Period □ Applicable √ Not applicable No such cases in the Reporting Period. IV Financial Investments 1. Securities Investments √ Applicable □ Not applicable Unit: RMB | Type of securities | Code of securities | Name of securities | Initial investment cost | Accounting measurement method | Opening carrying amount | Gain/loss on fair-value changes in the current period | Cumulative fair-value changes through equity | Purchased in the current period | Sold in the current period | Gain/loss in the current period | Closing carrying amount | Accounting title | Funding source | | Asset management plan | | ZXYSDP 1st Assets Management Plan | 200,000,000.00 | Fair value method | 211,884,505.24 | 9,994,641.20 | 0.00 | 0.00 | 0.00 | 0.00 | 221,879,146.44 | Held-for-trading financial assets | Self-funded | | Other securities investment held at the period-end | 0.00 | -- | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -- | -- | | Total | 200,000,000.00 | -- | 211,884,505.24 | 9,994,641.20 | 0.00 | 0.00 | 0.00 | 0.00 | 221,879,146.44 | -- | -- | | Disclosure date of the announcement on the Board’s approval of securities investments | Naught | | Disclosure date of the announcement on the general meeting’s approval of securities investments (if any) | Naught |
2. Investments in Derivative Financial Instruments √ Applicable □ Not applicable Unit: RMB’0,000 | Counterparty | Relationship with the Company | Related-party transaction or not | Type of derivative | Initial investment amount | Start date | End date | Beginning investment | Purchased in Reporting Period | Sold in Reporting Period | Impairment allowance (if any) | Ending investment | Ending investment as % of the Company’s ending net assets | Actual gain/loss in Reporting Period | | Reverse repurchase of national debt | No | No | Reverse repurchase of national debt | 0.00 | 29 April 2020 | 11 October 2020 | 0.00 | 4,179.80 | 2,180 | 0.00 | 1,999.80 | 0.21% | 0.55 | | Total | 0.00 | -- | -- | 0.00 | 4,179.80 | 2,180 | 0.00 | 1,999.80 | 0.21% | 0.55 | | Funding source | Self-funded | | Legal matters involved (if applicable) | N/A | | Disclosure date of board announcement approving derivative investment (if any) | 30 August 2013 | | Disclosure date of general meeting announcement approving derivative investment (if any) | | | Analysis of risks and control measures associated with derivative investments held in Reporting Period (including but not limited to market risk, liquidity risk, credit risk, operational risk, legal risk, etc.) | The Company had controlled the relevant risks strictly according to the Derivatives Investment Management System. | | Changes in market prices or fair value of derivative investments in Reporting Period (fair value analysis | Naught |
| should include measurement method and related assumptions and parameters) | | | Major changes in accounting policies and specific accounting principles adopted for derivative investments in Reporting Period compared to last reporting period | Naught | | Opinion of independent directors on derivative investments and risk control | Based on the sustainable development of the main business and the sufficient free idle money, the Company increased the profits through investing in the reasonable financial derivative instruments, which was in favor of improving the service efficiency of the idle funds; in order to reduce the investment risks of the financial derivative instruments, the Company had set up corresponding supervision mechanism for the financial derivative instrument business and formulated reasonable accounting policy as well as specific principles of financial accounting; the derivative Investment business developed separately took national debts as mortgage object, which was met with the cautious and steady risks management principle and the interest of the Company and shareholders. Therefore, agreed the Company to develop the derivative Investment business of reverse repurchase of national debt not more than the limit of RMB0.3 billion. |
V Progress of Projects Financed with Raised Funds □ Applicable √ Not applicable VI 2020 Annual Operating Performance Forecast Warning of a forecast loss on or a forecast significant year-on-year change in the 2020 annual net profit, as well as explanation ofwhy: □ Applicable √ Not applicable VII Significant Contracts Arising from the Company’s Ordinary Course of Business □ Applicable √ Not applicable VIII Cash Entrusted for Wealth Management √ Applicable □ Not applicable Unit: RMB’0,000 | Type | Funding source | Amount | Undue amount | Unrecovered overdue amount | | Other | Self-funded | 20,000 | 20,000 | 0.00 | | Bank’s wealth management product | Idle raised funds | 2,300 | 1,000 | 0.00 | | Total | 22,300 | 21,000 | 0.00 |
| Trustee | Type of trustee | Type of wealth management product | Principal (RMB’0,000) | Funding source | Start date | End date | Investment with principal | Way of payback | Reference annualized rate of return | Expected return (if any) | Actual gain/loss in the Reporting Period (RMB’0,000) | Recovery of the gain/loss in the Reporting Period | Impairment allowance (if any) | Through prescribed procedures or not | Any plan for further transactions | Summary and index to more information (if any) | | CITIC Wings Asset Management | Company Limited | Asset management plan | 20,000 | Self-funded | | | Purchasing new shares offline, fixed | 1.2% of the net value | 6.00% | | 0.00 | N/A | 0.00 | Yes | Yes | |
| Company Limited | | | | | | income instruments, and Reverse repurchase of national debt, etc | of product and 20% of excess earnings | | | | | | | | | | Total | 20,000 | -- | -- | -- | -- | -- | -- | | 0.00 | -- | 0.00 | -- | -- | -- |
Part IV Financial StatementsI Financial Statements 1. Consolidated Balance Sheet Prepared by Anhui Gujing Distillery Company Limited 30 September 2020 Unit: RMB | Item | 30 September 2020 | 31 December 2019 | | Current assets: | | | | Monetary assets | 6,293,975,367.62 | 5,619,749,918.09 | | Settlement reserve | | | | Loans to other banks and financial institutions | | | | Held-for-trading financial assets | 231,879,146.44 | 509,031,097.02 | | Derivative financial assets | | | | Notes receivable | 1,711,528,281.95 | 1,004,217,431.56 | | Accounts receivable | 45,366,345.41 | 40,776,567.96 | | Receivables financing | | | | Prepayments | 121,190,007.83 | 197,453,313.96 | | Premiums receivable | | | | Reinsurance receivables | | | | Receivable reinsurance contract reserve | | | | Other receivables | 39,475,707.94 | 25,746,957.22 | | Including: Interest receivable | 8,744,042.43 | 1,908,788.81 | | Dividends receivable | | | | Financial assets purchased under resale agreements | | | | Inventories | 2,954,002,324.75 | 3,015,051,961.78 | | Contract assets | | | | Assets held for sale | | | | Current portion of non-current assets | | | | Other current assets | 87,912,663.81 | 114,439,167.07 |
| Total current assets | 11,485,329,845.75 | 10,526,466,414.66 | | Non-current assets: | | | | Loans and advances to customers | | | | Debt investments | | | | Other debt investments | | | | Long-term receivables | | | | Long-term equity investments | 4,601,354.63 | 4,678,282.24 | | Investments in other equity instruments | | | | Other non-current financial assets | | | | Investment property | 4,472,229.16 | 4,710,086.02 | | Fixed assets | 1,659,795,843.32 | 1,722,572,998.79 | | Construction in progress | 285,451,235.87 | 183,984,816.07 | | Productive living assets | | | | Oil and gas assets | | | | Right-of-use assets | | | | Intangible assets | 898,381,389.54 | 785,717,932.76 | | Development costs | | | | Goodwill | 478,283,495.29 | 478,283,495.29 | | Long-term prepaid expense | 57,135,831.45 | 70,240,106.82 | | Deferred income tax assets | 108,580,105.76 | 90,494,544.51 | | Other non-current assets | 574,026.00 | 4,148,686.00 | | Total non-current assets | 3,497,275,511.02 | 3,344,830,948.50 | | Total assets | 14,982,605,356.77 | 13,871,297,363.16 | | Current liabilities: | | | | Short-term borrowings | 70,325,500.00 | 0.00 | | Borrowings from the central bank | | | | Loans from other banks and financial institutions | | | | Held-for-trading financial liabilities | | | | Derivative financial liabilities | | | | Notes payable | 338,710,000.00 | 703,679,646.86 | | Accounts payable | 441,523,640.81 | 563,494,195.40 | | Advances from customers | 0.00 | 529,863,011.73 | | Contract liabilities | 847,011,253.43 | 0.00 |
| 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 | 330,730,138.08 | 454,189,532.89 | | Taxes and levies payable | 656,605,964.86 | 482,903,109.59 | | Other payables | 1,707,847,647.25 | 1,315,878,229.01 | | Including: Interest payable | | | | Dividends payable | 7,733,888.61 | 0.00 | | Fees and commissions payable | | | | Reinsurance payables | | | | Liabilities directly associated with assets held for sale | | | | Current portion of non-current liabilities | | | | Other current liabilities | 267,972,091.29 | 197,484,121.41 | | Total current liabilities | 4,660,726,235.72 | 4,247,491,846.89 | | Non-current liabilities: | | | | Insurance contract reserve | | | | Long-term borrowings | | | | Bonds payable | | | | Including: Preference shares | | | | Perpetual bonds | | | | Lease liabilities | | | | Long-term payables | | | | Long-term employee benefits payable | | | | Provisions | | | | Deferred income | 73,542,181.50 | 72,778,437.92 | | Deferred income tax liabilities | 114,809,029.38 | 118,872,366.61 | | Other non-current liabilities | | | | Total non-current liabilities | 188,351,210.88 | 191,650,804.53 | | Total liabilities | 4,849,077,446.60 | 4,439,142,651.42 |
| Owners’ equity: | | | | Share capital | 503,600,000.00 | 503,600,000.00 | | Other equity instruments | | | | Including: Preference shares | | | | Perpetual bonds | | | | Capital reserves | 1,295,405,592.25 | 1,295,405,592.25 | | Less: Treasury stock | | | | Other comprehensive income | | | | Specific reserve | | | | Surplus reserves | 256,902,260.27 | 256,902,260.27 | | General reserve | | | | Retained earnings | 7,670,484,915.98 | 6,888,203,911.92 | | Total equity attributable to owners of the Company as the parent | 9,726,392,768.50 | 8,944,111,764.44 | | Non-controlling interests | 407,135,141.67 | 488,042,947.30 | | Total owners’ equity | 10,133,527,910.17 | 9,432,154,711.74 | | Total liabilities and owners’ equity | 14,982,605,356.77 | 13,871,297,363.16 |
| Item | 30 September 2020 | 31 December 2019 | | Current assets: | | | | Monetary assets | 3,643,192,827.11 | 2,919,818,830.20 | | Held-for-trading financial assets | 221,879,146.44 | 489,861,097.02 | | Derivative financial assets | | | | Notes receivable | 1,510,421,883.85 | 378,740,100.82 | | Accounts receivable | 1,520,326.45 | 218,558,555.07 | | Receivables financing | | | | Prepayments | 60,272,598.51 | 17,906,999.63 | | Other receivables | 192,807,687.89 | 125,219,213.84 | | Including: Interest receivable | 348,333.33 | 301,888.89 | | Dividends receivable | 78,885,663.84 | 0.00 |
| Inventories | 2,569,307,602.07 | 2,688,839,871.27 | | Contract assets | | | | Assets held for sale | | | | Current portion of non-current assets | | | | Other current assets | 0.00 | 1,280,998.32 | | Total current assets | 8,199,402,072.32 | 6,840,225,666.17 | | Non-current assets: | | | | Debt investments | | | | Other debt investments | | | | Long-term receivables | | | | Long-term equity investments | 1,118,213,665.32 | 1,148,213,665.32 | | Investments in other equity instruments | | | | Other non-current financial assets | | | | Investment property | 4,472,229.16 | 4,710,086.02 | | Fixed assets | 1,206,955,659.09 | 1,310,704,771.36 | | Construction in progress | 156,349,177.59 | 84,477,784.02 | | Productive living assets | | | | Oil and gas assets | | | | Right-of-use assets | | | | Intangible assets | 364,509,678.13 | 243,928,047.95 | | Development costs | | | | Goodwill | | | | Long-term prepaid expense | 35,645,067.09 | 48,354,967.15 | | Deferred income tax assets | 24,216,270.13 | 31,360,809.87 | | Other non-current assets | 574,026.00 | 574,026.00 | | Total non-current assets | 2,910,935,772.51 | 2,872,324,157.69 | | Total assets | 11,110,337,844.83 | 9,712,549,823.86 | | Current liabilities: | | | | Short-term borrowings | | | | Held-for-trading financial liabilities | | | | Derivative financial liabilities | | | | Notes payable | 0.00 | 49,114,582.04 | | Accounts payable | 359,205,165.70 | 450,303,984.53 |
| Advances from customers | 0.00 | 31,724.77 | | Contract liabilities | 1,188,637,475.97 | 0.00 | | Employee benefits payable | 97,624,992.96 | 100,357,808.20 | | Taxes and levies payable | 424,094,805.85 | 371,012,223.50 | | Other payables | 338,326,745.27 | 274,053,511.54 | | Including: Interest payable | | | | Dividends payable | | | | Liabilities directly associated with assets held for sale | | | | Current portion of non-current liabilities | | | | Other current liabilities | 92,322.24 | 11,953,800.20 | | Total current liabilities | 2,407,981,507.99 | 1,256,827,634.78 | | Non-current liabilities: | | | | Long-term borrowings | | | | Bonds payable | | | | Including: Preference shares | | | | Perpetual bonds | | | | Lease liabilities | | | | Long-term payables | | | | Long-term employee benefits payable | | | | Provisions | | | | Deferred income | 30,960,138.38 | 33,229,246.47 | | Deferred income tax liabilities | 19,829,559.43 | 22,799,814.64 | | Other non-current liabilities | | | | Total non-current liabilities | 50,789,697.81 | 56,029,061.11 | | Total liabilities | 2,458,771,205.80 | 1,312,856,695.89 | | Owners’ equity: | | | | Share capital | 503,600,000.00 | 503,600,000.00 | | Other equity instruments | | | | Including: Preference shares | | | | Perpetual bonds | | | | Capital reserves | 1,247,162,107.35 | 1,247,162,107.35 | | Less: Treasury stock | | |
| Other comprehensive income | | | | Specific reserve | | | | Surplus reserves | 251,800,000.00 | 251,800,000.00 | | Retained earnings | 6,649,004,531.68 | 6,397,131,020.62 | | Total owners’ equity | 8,651,566,639.03 | 8,399,693,127.97 | | Total liabilities and owners’ equity | 11,110,337,844.83 | 9,712,549,823.86 |
| Item | Q3 2020 | Q3 2019 | | 1. Revenues | 2,549,799,986.43 | 2,214,767,350.88 | | Including: Operating revenue | 2,549,799,986.43 | 2,214,767,350.88 | | Interest income | | | | Insurance premium income | | | | Fee and commission income | | | | 2. Costs and expenses | 1,885,809,871.45 | 1,606,834,684.29 | | Including: Cost of sales | 624,152,232.61 | 549,495,046.47 | | Interest expense | | | | Fee and commission expense | | | | Surrenders | | | | Net insurance claims paid | | | | Net amount provided as insurance contract reserve | | | | Expenditure on policy dividends | | | | Reinsurance premium expense | | | | Taxes and levies | 402,468,055.08 | 339,483,400.01 | | Selling expense | 748,923,289.65 | 572,186,624.20 | | Administrative expense | 172,014,543.60 | 155,163,347.70 | | Development costs | 9,160,792.54 | 11,055,166.62 | | Finance costs | -70,909,042.03 | -20,548,900.71 | | Including: Interest expense | 2,545,311.69 | 12,839,179.18 | | Interest | 73,877,260.84 | 31,759,206.44 |
| income | | | | Add: Other income | 8,517,189.10 | 13,878,677.87 | | Return on investment (“-” for loss) | -22,742.18 | 28,665,355.29 | | Including: Share of profit or loss of joint ventures and associates | -23,296.27 | 34,369.53 | | Income from the derecognition of financial assets at amortized cost (“-” for loss) | | | | Exchange gain (“-” for loss) | | | | Net gain on exposure hedges (“-” for loss) | | | | Gain on changes in fair value (“-” for loss) | 1,614,210.03 | 5,994,298.28 | | Credit impairment loss (“-” for loss) | 72,803.53 | 0.00 | | Asset impairment loss (“-” for loss) | 0.00 | 159,351.46 | | Asset disposal income (“-” for loss) | 652,222.96 | 103,277.91 | | 3. Operating profit (“-” for loss) | 674,823,798.42 | 656,733,627.40 | | Add: Non-operating income | 15,645,842.84 | 14,398,366.14 | | Less: Non-operating expense | 532,381.49 | 1,313,838.64 | | 4. Gross profit (“-” for loss) | 689,937,259.77 | 669,818,154.90 | | Less: Income tax expense | 163,813,479.88 | 163,503,787.54 | | 5. Net profit (“-” for net loss) | 526,123,779.89 | 506,314,367.36 | | 5.1 By operating continuity | | | | 5.1.1 Net profit from continuing operations (“-” for net loss) | 526,123,779.89 | 506,314,367.36 | | 5.1.2 Net profit from discontinued operations (“-” for net loss) | | | | 5.2 By ownership | | | | 5.2.1 Net profit attributable to owners of the Company as the parent | 512,744,399.70 | 493,294,846.62 | | 5.2.2 Net profit attributable to non-controlling interests | 13,379,380.19 | 13,019,520.74 | | 6. Other comprehensive income, net of tax | | | | Attributable to owners of the Company as the parent | | | | 6.1 Items that will not be | | |
| reclassified to profit or loss | | | | 6.1.1 Changes caused by remeasurements on defined benefit schemes | | | | 6.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | | | | 6.1.3 Changes in the fair value of investments in other equity instruments | | | | 6.1.4 Changes in the fair value arising from changes in own credit risk | | | | 6.1.5 Other | | | | 6.2 Items that will be reclassified to profit or loss | | | | 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | | | | 6.2.2 Changes in the fair value of other debt investments | | | | 6.2.3 Other comprehensive income arising from the reclassification of financial assets | | | | 6.2.4 Credit impairment allowance for other debt investments | | | | 6.2.5 Reserve for cash flow hedges | | | | 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | | | | 6.2.7 Other | | | | Attributable to non-controlling interests | | | | 7. Total comprehensive income | 526,123,779.89 | 506,314,367.36 | | Attributable to owners of the Company as the parent | 512,744,399.70 | 493,294,846.62 | | Attributable to non-controlling interests | 13,379,380.19 | 13,019,520.74 | | 8. Earnings per share | | | | 8.1 Basic earnings per share | 1.02 | 0.98 | | 8.2 Diluted earnings per share | 1.02 | 0.98 |
Head of the Company’s financial department: Zhu Jiafeng 4. Income Statement of the Company as the Parent for Q3 Unit: RMB | Item | Q3 2020 | Q3 2019 | | 1. Operating revenue | 1,387,535,259.17 | 1,194,365,169.31 | | Less: Cost of sales | 572,200,698.23 | 502,553,273.90 | | Taxes and levies | 352,722,983.29 | 293,611,844.72 | | Selling expense | 11,494,246.34 | 12,543,759.60 | | Administrative expense | 106,775,670.23 | 106,708,524.92 | | Development costs | 6,421,594.47 | 7,250,613.44 | | Finance costs | -26,982,481.92 | -17,982,297.10 | | Including: Interest expense | 2,325,064.20 | 12,839,179.18 | | Interest income | 29,683,102.10 | 30,860,960.92 | | Add: Other income | 3,057,470.72 | 6,167,148.89 | | Return on investment (“-” for loss) | 70,774,329.09 | 10,800,845.34 | | Including: Share of profit or loss of joint ventures and associates | | | | Income from the derecognition of financial assets at amortized cost (“-” for loss) | | | | Net gain on exposure hedges (“-” for loss) | | | | Gain on changes in fair value (“-” for loss) | 1,614,210.03 | 5,994,298.28 | | Credit impairment loss (“-” for loss) | 92,587.48 | 0.00 | | Asset impairment loss (“-” for loss) | | | | Asset disposal income (“-” for loss) | | | | 2. Operating profit (“-” for loss) | 440,441,145.85 | 312,641,742.34 | | Add: Non-operating income | 8,019,024.83 | 11,030,693.23 | | Less: Non-operating expense | 178,303.58 | 825,676.96 | | 3. Gross profit (“-” for loss) | 448,281,867.10 | 322,846,758.61 | | Less: Income tax expense | 89,854,575.45 | 80,711,689.66 |
| 4. Net profit (“-” for net loss) | 358,427,291.65 | 242,135,068.95 | | 4.1 Net profit from continuing operations (“-” for net loss) | 358,427,291.65 | 242,135,068.95 | | 4.2 Net profit from discontinued operations (“-” for net loss) | | | | 5. Other comprehensive income, net of tax | | | | 5.1 Items that will not be reclassified to profit or loss | | | | 5.1.1 Changes caused by remeasurements on defined benefit schemes | | | | 5.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | | | | 5.1.3 Changes in the fair value of investments in other equity instruments | | | | 5.1.4 Changes in the fair value arising from changes in own credit risk | | | | 5.1.5 Other | | | | 5.2 Items that will be reclassified to profit or loss | | | | 5.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | | | | 5.2.2 Changes in the fair value of other debt investments | | | | 5.2.3 Other comprehensive income arising from the reclassification of financial assets | | | | 5.2.4 Credit impairment allowance for other debt investments | | | | 5.2.5 Reserve for cash flow hedges | | | | 5.2.6 Differences arising from the translation of foreign currency-denominated financial statements | | | | 5.2.7 Other | | | | 6. Total comprehensive income | 358,427,291.65 | 242,135,068.95 | | 7. Earnings per share | | | | 7.1 Basic earnings per share | 0.71 | 0.48 |
| 7.2 Diluted earnings per share | 0.71 | 0.48 |
| Item | Q1~Q3 2020 | Q1~Q3 2019 | | 1. Revenues | 8,069,420,987.05 | 8,202,880,349.97 | | Including: Operating revenue | 8,069,420,987.05 | 8,202,880,349.97 | | Interest income | | | | Insurance premium income | | | | Fee and commission income | | | | 2. Costs and expenses | 6,048,515,730.11 | 6,023,415,690.08 | | Including: Cost of sales | 1,938,077,825.09 | 1,943,651,781.02 | | Interest expense | | | | Fee and commission expense | | | | Surrenders | | | | Net insurance claims paid | | | | Net amount provided as insurance contract reserve | | | | Expenditure on policy dividends | | | | Reinsurance premium expense | | | | Taxes and levies | 1,290,465,095.80 | 1,209,011,162.05 | | Selling expense | 2,366,972,926.92 | 2,412,676,063.90 | | Administrative expense | 567,702,216.75 | 457,208,804.83 | | Development costs | 24,415,175.52 | 25,719,404.29 | | Finance costs | -139,117,509.97 | -24,851,526.01 | | Including: Interest expense | 31,518,587.66 | 27,013,151.27 | | Interest income | 170,768,434.29 | 52,225,855.46 | | Add: Other income | 23,491,542.76 | 44,662,596.55 | | Return on investment (“-” for loss) | 18,463,230.02 | 106,012,402.82 | | Including: Share of profit or loss of joint ventures and associates | -76,927.61 | -130,624.66 |
| Income from the derecognition of financial assets at amortized cost (“-” for loss) | | | | Exchange gain (“-” for loss) | | | | Net gain on exposure hedges (“-” for loss) | | | | Gain on changes in fair value (“-” for loss) | -1,981,950.58 | 17,314,643.84 | | Credit impairment loss (“-” for loss) | -315,641.04 | -317,217.94 | | Asset impairment loss (“-” for loss) | -5,693,185.77 | -5,945,248.67 | | Asset disposal income (“-” for loss) | 730,090.21 | 222,766.47 | | 3. Operating profit (“-” for loss) | 2,055,599,342.54 | 2,341,414,602.96 | | Add: Non-operating income | 36,221,004.38 | 25,549,129.67 | | Less: Non-operating expense | 24,806,037.98 | 3,051,449.71 | | 4. Gross profit (“-” for loss) | 2,067,014,308.94 | 2,363,912,282.92 | | Less: Income tax expense | 534,449,002.12 | 582,649,191.85 | | 5. Net profit (“-” for net loss) | 1,532,565,306.82 | 1,781,263,091.07 | | 5.1 By operating continuity | | | | 5.1.1 Net profit from continuing operations (“-” for net loss) | 1,532,565,306.82 | 1,781,263,091.07 | | 5.1.2 Net profit from discontinued operations (“-” for net loss) | | | | 5.2 By ownership | | | | 5.2.1 Net profit attributable to owners of the Company as the parent | 1,537,681,004.06 | 1,741,611,160.63 | | 5.2.2 Net profit attributable to non-controlling interests | -5,115,697.24 | 39,651,930.44 | | 6. Other comprehensive income, net of tax | | | | Attributable to owners of the Company as the parent | | | | 6.1 Items that will not be reclassified to profit or loss | | | | 6.1.1 Changes caused by remeasurements on defined benefit schemes | | | | 6.1.2 Other comprehensive income that will not be reclassified to | | |
| profit or loss under the equity method | | | | 6.1.3 Changes in the fair value of investments in other equity instruments | | | | 6.1.4 Changes in the fair value arising from changes in own credit risk | | | | 6.1.5 Other | | | | 6.2 Items that will be reclassified to profit or loss | | | | 6.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | | | | 6.2.2 Changes in the fair value of other debt investments | | | | 6.2.3 Other comprehensive income arising from the reclassification of financial assets | | | | 6.2.4 Credit impairment allowance for other debt investments | | | | 6.2.5 Reserve for cash flow hedges | | | | 6.2.6 Differences arising from the translation of foreign currency-denominated financial statements | | | | 6.2.7 Other | | | | Attributable to non-controlling interests | | | | 7. Total comprehensive income | 1,532,565,306.82 | 1,781,263,091.07 | | Attributable to owners of the Company as the parent | 1,537,681,004.06 | 1,741,611,160.63 | | Attributable to non-controlling interests | -5,115,697.24 | 39,651,930.44 | | 8. Earnings per share | | | | 8.1 Basic earnings per share | 3.05 | 3.46 | | 8.2 Diluted earnings per share | 3.05 | 3.46 |
| Item | Q1~Q3 2020 | Q1~Q3 2019 | | 1. Operating revenue | 4,684,652,431.66 | 4,339,047,632.89 | | Less: Cost of sales | 1,889,259,961.85 | 1,780,471,850.81 | | Taxes and levies | 1,179,453,881.90 | 1,058,210,690.84 | | Selling expense | 34,395,594.76 | 58,430,231.41 | | Administrative expense | 394,484,033.50 | 309,366,786.60 | | Development costs | 15,559,553.84 | 16,286,743.25 | | Finance costs | -71,779,253.18 | -20,041,354.26 | | Including: Interest expense | 30,614,046.49 | 26,846,026.27 | | Interest income | 102,838,354.42 | 48,601,883.96 | | Add: Other income | 7,680,201.83 | 9,539,867.14 | | Return on investment (“-” for loss) | 83,208,919.30 | 42,684,714.10 | | Including: Share of profit or loss of joint ventures and associates | | | | Income from the derecognition of financial assets at amortized cost (“-” for loss) | | | | Net gain on exposure hedges (“-” for loss) | | | | Gain on changes in fair value (“-” for loss) | -1,981,950.58 | 17,314,643.84 | | Credit impairment loss (“-” for loss) | 633,332.60 | -186,067.78 | | Asset impairment loss (“-” for loss) | -5,693,185.77 | -5,945,248.67 | | Asset disposal income (“-” for loss) | 60,176.99 | 36,552.41 | | 2. Operating profit (“-” for loss) | 1,327,186,153.36 | 1,199,767,145.28 | | Add: Non-operating income | 23,220,421.09 | 20,373,416.46 | | Less: Non-operating expense | 20,667,158.59 | 2,050,990.73 | | 3. Gross profit (“-” for loss) | 1,329,739,415.86 | 1,218,089,571.01 | | Less: Income tax expense | 322,465,904.80 | 291,973,758.82 | | 4. Net profit (“-” for net loss) | 1,007,273,511.06 | 926,115,812.19 | | 4.1 Net profit from continuing operations (“-” for net loss) | 1,007,273,511.06 | 926,115,812.19 | | 4.2 Net profit from discontinued operations (“-” for net loss) | | |
| 5. Other comprehensive income, net of tax | | | | 5.1 Items that will not be reclassified to profit or loss | | | | 5.1.1 Changes caused by remeasurements on defined benefit schemes | | | | 5.1.2 Other comprehensive income that will not be reclassified to profit or loss under the equity method | | | | 5.1.3 Changes in the fair value of investments in other equity instruments | | | | 5.1.4 Changes in the fair value arising from changes in own credit risk | | | | 5.1.5 Other | | | | 5.2 Items that will be reclassified to profit or loss | | | | 5.2.1 Other comprehensive income that will be reclassified to profit or loss under the equity method | | | | 5.2.2 Changes in the fair value of other debt investments | | | | 5.2.3 Other comprehensive income arising from the reclassification of financial assets | | | | 5.2.4 Credit impairment allowance for other debt investments | | | | 5.2.5 Reserve for cash flow hedges | | | | 5.2.6 Differences arising from the translation of foreign currency-denominated financial statements | | | | 5.2.7 Other | | | | 6. Total comprehensive income | 1,007,273,511.06 | 926,115,812.19 | | 7. Earnings per share | | | | 7.1 Basic earnings per share | 2.00 | 1.84 | | 7.2 Diluted earnings per share | 2.00 | 1.84 |
| Item | Q1~Q3 2020 | Q1~Q3 2019 | | 1. Cash flows from operating activities: | | | | Proceeds from sale of commodities and rendering of services | 8,647,831,451.67 | 8,252,482,399.40 | | 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 | 3,381,080.29 | 20,674,445.06 | | Cash generated from other operating activities | 2,308,969,284.28 | 711,377,701.47 | | Subtotal of cash generated from operating activities | 10,960,181,816.24 | 8,984,534,545.93 | | Payments for commodities and services | 1,792,820,288.01 | 1,579,978,848.34 | | 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 | 1,893,631,550.54 | 1,445,715,909.31 | | Taxes and levies paid | 2,454,548,768.00 | 2,674,734,494.33 | | Cash used in other operating activities | 2,239,321,023.11 | 1,042,733,789.19 | | Subtotal of cash used in operating activities | 8,380,321,629.66 | 6,743,163,041.17 | | Net cash generated from/used in operating activities | 2,579,860,186.58 | 2,241,371,504.76 | | 2. Cash flows from investing activities: | | | | Proceeds from disinvestment | 319,970,000.00 | 3,337,200,054.88 | | Return on investment | 18,539,603.54 | 131,076,489.02 | | Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 1,932,156.95 | 294,196.00 | | Net proceeds from the disposal of subsidiaries and other business units | | | | Cash generated from other investing activities | | | | Subtotal of cash generated from investing activities | 340,441,760.49 | 3,468,570,739.90 | | Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 402,634,821.93 | 242,619,594.59 | | Payments for investments | 64,798,000.00 | 2,355,560,163.50 | | Net increase in pledged loans granted | | | | Net payments for the acquisition of subsidiaries and other business units | | | | Cash used in other investing activities | | | | Subtotal of cash used in investing activities | 467,432,821.93 | 2,598,179,758.09 | | Net cash generated from/used in investing activities | -126,991,061.44 | 870,390,981.81 | | 3. Cash flows from financing activities: | | | | Capital contributions received | | | | Including: Capital contributions by non-controlling interests to subsidiaries | | | | Borrowings received | 70,325,500.00 | 0.00 | | Cash generated from other financing activities | | | | Subtotal of cash generated from | 70,325,500.00 | 0.00 |
| financing activities | | | | Repayment of borrowings | | | | Interest and dividends paid | 823,969,175.61 | 755,400,000.00 | | Including: Dividends paid by subsidiaries to non-controlling interests | 68,058,219.79 | 0.00 | | Cash used in other financing activities | | | | Subtotal of cash used in financing activities | 823,969,175.61 | 755,400,000.00 | | Net cash generated from/used in financing activities | -753,643,675.61 | -755,400,000.00 | | 4. Effect of foreign exchange rates changes on cash and cash equivalents | | | | 5. Net increase in cash and cash equivalents | 1,699,225,449.53 | 2,356,362,486.57 | | Add: Cash and cash equivalents, beginning of the period | 2,944,749,918.09 | 835,560,865.12 | | 6. Cash and cash equivalents, end of the period | 4,643,975,367.62 | 3,191,923,351.69 |
| Item | Q1~Q3 2020 | Q1~Q3 2019 | | 1. Cash flows from operating activities: | | | | Proceeds from sale of commodities and rendering of services | 5,538,315,335.29 | 4,685,243,331.72 | | Tax and levy rebates | | 4,448,500.00 | | Cash generated from other operating activities | 1,351,067,223.50 | 659,722,935.80 | | Subtotal of cash generated from operating activities | 6,889,382,558.79 | 5,349,414,767.52 | | Payments for commodities and services | 1,645,078,712.99 | 1,129,158,021.75 | | Cash paid to and for employees | 630,017,481.25 | 503,962,356.85 | | Taxes and levies paid | 1,841,118,490.88 | 1,655,999,073.07 | | Cash used in other operating activities | 510,431,619.37 | 248,287,619.33 | | Subtotal of cash used in operating activities | 4,626,646,304.49 | 3,537,407,071.00 | | Net cash generated from/used in operating activities | 2,262,736,254.30 | 1,812,007,696.52 |
| 2. Cash flows from investing activities: | | | | Proceeds from disinvestment | 287,800,000.00 | 1,811,640,054.88 | | Return on investment | 12,434,590.21 | 42,691,828.68 | | Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 68,000.00 | 41,304.23 | | Net proceeds from the disposal of subsidiaries and other business units | | | | Cash generated from other investing activities | | | | Subtotal of cash generated from investing activities | 300,302,590.21 | 1,854,373,187.79 | | Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 222,464,847.60 | 176,617,514.16 | | Payments for investments | 21,800,000.00 | 726,900,163.50 | | Net payments for the acquisition of subsidiaries and other business units | | | | Cash used in other investing activities | | | | Subtotal of cash used in investing activities | 244,264,847.60 | 903,517,677.66 | | Net cash generated from/used in investing activities | 56,037,742.61 | 950,855,510.13 | | 3. Cash flows from financing activities: | | | | Capital contributions received | | | | Borrowings received | | | | Cash generated from other financing activities | | | | Subtotal of cash generated from financing activities | | | | Repayment of borrowings | | | | Interest and dividends paid | 755,400,000.00 | 755,400,000.00 | | Cash used in other financing activities | | | | Subtotal of cash used in financing activities | 755,400,000.00 | 755,400,000.00 | | Net cash generated from/used in financing activities | -755,400,000.00 | -755,400,000.00 | | 4. Effect of foreign exchange rates changes on cash and cash equivalents | | |
| 5. Net increase in cash and cash equivalents | 1,563,373,996.91 | 2,007,463,206.65 | | Add: Cash and cash equivalents, beginning of the period | 2,079,818,830.20 | 708,172,917.59 | | 6. Cash and cash equivalents, end of the period | 3,643,192,827.11 | 2,715,636,124.24 |
| Item | 31 December 2019 | 1 January 2020 | Adjusted | | Current assets: | | | | | Monetary assets | 5,619,749,918.09 | 5,619,749,918.09 | | | Settlement reserve | | | | | Loans to other banks and financial institutions | | | | | Held-for-trading financial assets | 509,031,097.02 | 509,031,097.02 | | | Derivative financial assets | | | | | Notes receivable | 1,004,217,431.56 | 1,004,217,431.56 | | | Accounts receivable | 40,776,567.96 | 40,776,567.96 | | | Receivables financing | | | | | Prepayments | 197,453,313.96 | 197,453,313.96 | | | Premiums receivable | | | | | Reinsurance receivables | | | | | Receivable reinsurance contract reserve | | | | | Other receivables | 25,746,957.22 | 25,746,957.22 | | | Including: Interest receivable | 1,908,788.81 | 1,908,788.81 | | | Dividends receivable | | | |
| Financial assets purchased under resale agreements | | | | | Inventories | 3,015,051,961.78 | 3,015,051,961.78 | | | Contract assets | | | | | Assets held for sale | | | | | Current portion of non-current assets | | | | | Other current assets | 114,439,167.07 | 114,439,167.07 | | | Total current assets | 10,526,466,414.66 | 10,526,466,414.66 | | | Non-current assets: | | | | | Loans and advances to customers | | | | | Debt investments | | | | | Other debt investments | | | | | Long-term receivables | | | | | Long-term equity investments | 4,678,282.24 | 4,678,282.24 | | | Investments in other equity instruments | | | | | Other non-current financial assets | | | | | Investment property | 4,710,086.02 | 4,710,086.02 | | | Fixed assets | 1,722,572,998.79 | 1,722,572,998.79 | | | Construction in progress | 183,984,816.07 | 183,984,816.07 | | | Productive living assets | | | | | Oil and gas assets | | | | | Right-of-use assets | | | | | Intangible assets | 785,717,932.76 | 785,717,932.76 | | | Development costs | | | | | Goodwill | 478,283,495.29 | 478,283,495.29 | | | Long-term prepaid expense | 70,240,106.82 | 70,240,106.82 | | | Deferred income tax assets | 90,494,544.51 | 90,494,544.51 | | | Other non-current assets | 4,148,686.00 | 4,148,686.00 | | | Total non-current assets | 3,344,830,948.50 | 3,344,830,948.50 | | | Total assets | 13,871,297,363.16 | 13,871,297,363.16 | | | 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 | 703,679,646.86 | 703,679,646.86 | | | Accounts payable | 563,494,195.40 | 563,494,195.40 | | | Advances from customers | 529,863,011.73 | 0.00 | -529,863,011.73 | | Contract liabilities | 0.00 | 529,863,011.73 | 529,863,011.73 | | 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 | 454,189,532.89 | 454,189,532.89 | | | Taxes and levies payable | 482,903,109.59 | 482,903,109.59 | | | Other payables | 1,315,878,229.01 | 1,315,878,229.01 | | | Including: Interest payable | | | | | Dividends payable | | | | | Fees and commissions payable | | | | | Reinsurance payables | | | | | Liabilities directly associated with assets held for sale | | | | | Current portion of non-current liabilities | | | | | Other current liabilities | 197,484,121.41 | 197,484,121.41 | | | Total current liabilities | 4,247,491,846.89 | 4,247,491,846.89 | | | Non-current liabilities: | | | |
| Insurance contract reserve | | | | | Long-term borrowings | | | | | Bonds payable | | | | | Including: Preference shares | | | | | Perpetual bonds | | | | | Lease liabilities | | | | | Long-term payables | | | | | Long-term employee benefits payable | | | | | Provisions | | | | | Deferred income | 72,778,437.92 | 72,778,437.92 | | | Deferred income tax liabilities | 118,872,366.61 | 118,872,366.61 | | | Other non-current liabilities | | | | | Total non-current liabilities | 191,650,804.53 | 191,650,804.53 | | | Total liabilities | 4,439,142,651.42 | 4,439,142,651.42 | | | Owners’ equity: | | | | | Share capital | 503,600,000.00 | 503,600,000.00 | | | Other equity instruments | | | | | Including: Preference shares | | | | | Perpetual bonds | | | | | Capital reserves | 1,295,405,592.25 | 1,295,405,592.25 | | | Less: Treasury stock | | | | | Other comprehensive income | | | | | Specific reserve | | | | | Surplus reserves | 256,902,260.27 | 256,902,260.27 | | | General reserve | | | | | Retained earnings | 6,888,203,911.92 | 6,888,203,911.92 | | | Total equity attributable to owners of the Company as the parent | 8,944,111,764.44 | 8,944,111,764.44 | | | Non-controlling interests | 488,042,947.30 | 488,042,947.30 | |
| Total owners’ equity | 9,432,154,711.74 | 9,432,154,711.74 | | | Total liabilities and owners’ equity | 13,871,297,363.16 | 13,871,297,363.16 | |
| Item | 31 December 2019 | 1 January 2020 | Adjusted | | Current assets: | | | | | Monetary assets | 2,919,818,830.20 | 2,919,818,830.20 | | | Held-for-trading financial assets | 489,861,097.02 | 489,861,097.02 | | | Derivative financial assets | | | | | Notes receivable | 378,740,100.82 | 378,740,100.82 | | | Accounts receivable | 218,558,555.07 | 218,558,555.07 | | | Receivables financing | | | | | Prepayments | 17,906,999.63 | 17,906,999.63 | | | Other receivables | 125,219,213.84 | 125,219,213.84 | | | Including: Interest receivable | 301,888.89 | 301,888.89 | | | Dividends receivable | | | | | Inventories | 2,688,839,871.27 | 2,688,839,871.27 | | | Contract assets | | | | | Assets held for sale | | | | | Current portion of non-current assets | | | | | Other current assets | 1,280,998.32 | 1,280,998.32 | | | Total current assets | 6,840,225,666.17 | 6,840,225,666.17 | | | Non-current assets: | | | | | Debt investments | | | | | Other debt investments | | | | | Long-term receivables | | | | | Long-term equity investments | 1,148,213,665.32 | 1,148,213,665.32 | | | Investments in other equity instruments | | | | | Other non-current financial assets | | | |
| Investment property | 4,710,086.02 | 4,710,086.02 | | | Fixed assets | 1,310,704,771.36 | 1,310,704,771.36 | | | Construction in progress | 84,477,784.02 | 84,477,784.02 | | | Productive living assets | | | | | Oil and gas assets | | | | | Right-of-use assets | | | | | Intangible assets | 243,928,047.95 | 243,928,047.95 | | | Development costs | | | | | Goodwill | | | | | Long-term prepaid expense | 48,354,967.15 | 48,354,967.15 | | | Deferred income tax assets | 31,360,809.87 | 31,360,809.87 | | | Other non-current assets | 574,026.00 | 574,026.00 | | | Total non-current assets | 2,872,324,157.69 | 2,872,324,157.69 | | | Total assets | 9,712,549,823.86 | 9,712,549,823.86 | | | Current liabilities: | | | | | Short-term borrowings | | | | | Held-for-trading financial liabilities | | | | | Derivative financial liabilities | | | | | Notes payable | 49,114,582.04 | 49,114,582.04 | | | Accounts payable | 450,303,984.53 | 450,303,984.53 | | | Advances from customers | 31,724.77 | 0.00 | -31,724.77 | | Contract liabilities | 0.00 | 31,724.77 | 31,724.77 | | Employee benefits payable | 100,357,808.20 | 100,357,808.20 | | | Taxes and levies payable | 371,012,223.50 | 371,012,223.50 | | | Other payables | 274,053,511.54 | 274,053,511.54 | | | Including: Interest payable | | | | | Dividends payable | | | | | Liabilities directly associated with assets held for sale | | | | | Current portion of non-current liabilities | | | |
| Other current liabilities | 11,953,800.20 | 11,953,800.20 | | | Total current liabilities | 1,256,827,634.78 | 1,256,827,634.78 | | | Non-current liabilities: | | | | | Long-term borrowings | | | | | Bonds payable | | | | | Including: Preference shares | | | | | Perpetual bonds | | | | | Lease liabilities | | | | | Long-term payables | | | | | Long-term employee benefits payable | | | | | Provisions | | | | | Deferred income | 33,229,246.47 | 33,229,246.47 | | | Deferred income tax liabilities | 22,799,814.64 | 22,799,814.64 | | | Other non-current liabilities | | | | | Total non-current liabilities | 56,029,061.11 | 56,029,061.11 | | | Total liabilities | 1,312,856,695.89 | 1,312,856,695.89 | | | Owners’ equity: | | | | | Share capital | 503,600,000.00 | 503,600,000.00 | | | Other equity instruments | | | | | Including: Preference shares | | | | | Perpetual bonds | | | | | Capital reserves | 1,247,162,107.35 | 1,247,162,107.35 | | | Less: Treasury stock | | | | | Other comprehensive income | | | | | Specific reserve | | | | | Surplus reserves | 251,800,000.00 | 251,800,000.00 | | | Retained earnings | 6,397,131,020.62 | 6,397,131,020.62 | | | Total owners’ equity | 8,399,693,127.97 | 8,399,693,127.97 | | | Total liabilities and owners’ equity | 9,712,549,823.86 | 9,712,549,823.86 | |
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2020of the New Accounting Standards Governing Revenue and Leases □ Applicable √ Not applicable III Independent Auditor’s Report Indicate by tick mark whether the financial statements above have been audited by an independent auditor. □Yes √ No These financial statements have not been audited by such an auditor. Chairman of the Board: (Liang Jinhui) Anhui Gujing Distillery Company Limited 28 October 2020
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