Stock Code: 000596, 200596 Stock Name: Gujing Distillery, Gujing Distillery-B Announcement No. 2020-027
ANHUI GUJING DISTILLERY COMPANY LIMITED
INTERIM REPORT 2020 (SUMMARY)Part I Important NotesThis Summary is based on the full text of the Interim Report of Anhui Gujing Distillery Company Limited (together with itsconsolidated subsidiaries, the “Company”, except where the context otherwise requires). In order for a full understanding of theCompany’s operating results, financial condition and future development plans, investors should carefully read the aforesaid full text,which has been disclosed together with this Summary on the media designated by the China Securities Regulatory Commission (the“CSRC”).Independent auditor’s modified opinion:
□ Applicable √ Not applicable
Board-approved interim cash and/or stock dividend plan for ordinary shareholders:
□ Applicable √ Not applicable
The Company has no interim dividend plan, either in the form of cash or stock.Board-approved interim cash and/or stock dividend plan for preferred shareholders:
□ Applicable √ Not applicable
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies ormisunderstandings between the two versions, the Chinese versions shall prevail.Part II Key Corporate Information
1. Stock Profile
| Stock name | Gujing Distillery, Gujing Distillery-B | Stock code | 000596, 200596 | |
| Stock exchange for stock listing | Shenzhen Stock Exchange | |||
| Contact information | Board Secretary | Securities Representative | ||
| Name | Ye Changqing | Mei Jia | ||
| Office address | Gujing Town, Bozhou City, Anhui Province, P.R.China | Gujing Town, Bozhou City, Anhui Province, P.R.China | ||
| Tel. | （0558）5712231 | （0558）5710057 | ||
| E-mail address | gjzqb@gujing.com.cn | gjzqb@gujing.com.cn | ||
2. Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
| H1 2020 | H1 2019 | Change (%) | |
| Operating revenue (RMB) | 5,519,621,000.62 | 5,988,112,999.09 | -7.82% |
| Net profit attributable to the listed company’s shareholders (RMB) | 1,024,936,604.36 | 1,248,316,314.01 | -17.89% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 1,007,918,868.52 | 1,165,870,979.10 | -13.55% |
| Net cash generated from/used in operating activities (RMB) | 2,341,638,100.64 | 1,041,733,748.83 | 124.78% |
| Basic earnings per share (RMB/share) | 2.04 | 2.48 | -17.74% |
| Diluted earnings per share (RMB/share) | 2.04 | 2.48 | -17.74% |
| Weighted average return on equity (%) | 10.84% | 16.71% | -5.87% |
| 30 June 2020 | 31 December 2019 | Change (%) | |
| Total assets (RMB) | 15,329,688,946.81 | 13,871,297,363.16 | 10.51% |
| Equity attributable to the listed company’s shareholders (RMB) | 9,213,648,368.80 | 8,944,111,764.44 | 3.01% |
3. Shareholders and Their Holdings as at the End of the Reporting Period
Unit: share
| Number of ordinary shareholders | 25,645 | Number of preferred shareholders with resumed voting rights (if any) | 0 | ||||||
| Top 10 shareholders | |||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Number of shares | Restricted shares | Shares in pledge or frozen | ||||
| Status | Shares | ||||||||
| ANHUI GUJING GROUP COMPANY LIMITED | State-owned legal person | 53.89% | 271,404,022 | In pledge | 114,000,000 | ||||
| GAOLING FUND,L.P. | Foreign legal person | 2.47% | 12,446,408 | ||||||
| AGRICULTURAL BANK OF CHINA- E FUND CONSUMPTION SECTOR STOCK SECURITIES INVESTMENT FUND | Other | 2.27% | 11,456,769 | ||||||
| CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD | Foreign legal person | 1.75% | 8,808,452 | ||||||
| HONG KONG SECURITIES | Foreign legal | 1.63% | 8,216,655 | ||||||
| CLEARING COMPANY LTD. | person | |||||
| UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) | Foreign legal person | 1.40% | 7,048,161 | |||
| CENTRAL HUIJIN ASSET MANAGEMENT CO., LTD. | State-owned legal person | 1.30% | 6,543,600 | |||
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED- INVESCO GREAT WALL EMERGING GROWTH HYBRID SECURITIES INVESTMENT FUND | Other | 1.07% | 5,399,890 | |||
| GREENWOODS CHINA ALPHA MASTER FUND | Foreign legal person | 0.92% | 4,614,326 | |||
| INDUS SELECT MASTER FUND, LTD. | Foreign legal person | 0.74% | 3,729,186 | |||
| 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. | |||||
| Shareholders involved in securities margin trading (if any) | N/A | |||||
4. Change of the Controlling Shareholder or the Actual Controller in the Reporting PeriodChange of the controlling shareholder in the Reporting Period:
□ Applicable √ Not applicable
The controlling shareholder remained the same in the Reporting Period.Change of the actual controller in the Reporting Period:
□ Applicable √ Not applicable
The actual controller remained the same in the Reporting Period.
5. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
No preferred shareholders in the Reporting Period.
6. Corporate bonds
Does the Company have any corporate bonds publicly offered on the stock exchange, which were outstanding before the date of thisReport’s approval or were due but could not be redeemed in full?No.Part III Operating Performance Discussion and Analysis
1. Business Overview of the Reporting Period
Is the Company subject to any industry-specific disclosure requirements?No.The first half of 2020 saw a gradual recovery in China’s economic growth against the adverse impact of the COVID-19 pandemic.Yet the pandemic is still spreading globally and how it will continue to affect the world economy remains to be seen, posing morerisks and challenges and putting pressure on recovery of the domestic economy.Under the common efforts of the Board and all the staff, for the six months from January to June 2020, the Company recordedoperating revenue of RMB5.520 billion, down 7.82% compared to the same period of last year; a net profit attributable to owners ofthe Company as the parent of RMB1.025 billion, representing a year-on-year decline of 17.89%; and net cash generated fromoperating activities of RMB2.342 billion, up 124.78% year-on-year. Key work done in the Reporting Period was as follows: ①adopting effective anti-pandemic measures to ensure the smooth resumption of work/production; ② developing innovative marketingmodels and continuing to carry out sales promotions; ③ continuously strengthen the special inspection of quality management andfurther improve the quality management system; ④ enhancing safety and environmental management to ensure safe, smooth andorderly production; and ⑤ refining organizational management and further adhering to the guidance of the governing party.
2. Matters Related to Financial Reporting
(1) Changes to Accounting Policies, Accounting Estimates or Measurement Methods Compared to the LastAccounting Period
√ Applicable □ Not applicable
| Contents of changes in accounting policies and reasons thereof | Approval procedures | Note |
| On 5 July 2017, the Ministry of Finance issued the Notice on Revising and Issuing the Accounting Standards for Business Enterprises No.14-Revenue (CK(2017)No.22 and required those enterprises both listed in domestic and aboard and those enterprises overseas listed with International Financial Reporting Standards or Accounting Standards for Business Enterprises for preparation of financial statements to implement it since 1 January 2018, required other domestically listed enterprises to implement it since 1 January | Reviewed and approved on the 14th Meeting of the 8th Board of Directors and the 11th Meeting of the 8th Supervisory Committee | For details, please refer to the announcement on changes in accounting policies disclosed on http://www.cninfo.com.cn on 27 April 2020 |
| 2020 and required non-listed enterprises carrying out the Accounting Standards for Business Enterprises to implement it since 1 January 2021. The Company starts to implement the new accounting policy since the date stipulated in above document and starts to implement the new standards governing revenue since 1 January 2020. | ||
| The Ministry of Finance issued the Notice on Revising and Issuing of Formats of 2019 Financial Statements for General Enterprises (CK[2019]No.16) (hereinafter referred to as “Revising Notice”) on 19 September 2019, in which the formats of financial statements for general enterprises are revised and non-financial enterprises carrying out accounting standards for business enterprises are required to prepare the financial statements for 2019 and subsequent periods in accordance with provisions stipulated in accounting standards for business enterprises and the Revising Notice. | Reviewed and approved on the 14th Meeting of the 8th Board of Directors and the 11th Meeting of the 8th Supervisory Committee | For details, please refer to the announcement on changes in accounting policies disclosed on http://www.cninfo.com.cn on 27 April 2020 |
(2) Retrospective Restatements due to the Correction of Material Accounting Errors in the ReportingPeriod
□ Applicable √ Not applicable
No such cases.
(3) Changes to the Scope of Consolidated Financial Statements Compared to the Last Accounting Period
□ Applicable √ Not applicable