ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2023
October 2023
Stock Code: 000596, 200596 Stock Name: Gujing Distillery, Gujing Distillery-B Announcement No. 2023-035
ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2023
Anhui Gujing Distillery Company Limited (hereinafter referred to as the “Company”) and allthe members of the Company’s Board of Directors hereby guarantee that the contents of thisReport are true, accurate and complete and free of any misrepresentations, misleadingstatements or material omissions.Important Notes:
1. The Board of Directors (or the “Board”), the Supervisory Committee as well as the directors, supervisors and senior managementof the Company hereby guarantee that the contents of this Report are true, accurate and complete and free of any misrepresentations,misleading statements or material omissions, and collectively and individually accept legal responsibility for such contents.
2. The Company’s legal representative, Chief Accountant, and head of the financial department (equivalent to financial manager)hereby guarantee that the financial statements carried in this Report are truthful, accurate and complete.
3. Indicate by tick mark whether the financial statements in this Report have been audited by an independent auditor.
□Yes ? No
I Key Financial Information(I) Key Accounting Data and Financial IndicatorsIndicate by tick mark whether there is any retrospectively restated datum in the table below.
□Applicable ? Not applicable
| Q3 2023 | YoY change (%) | Q1-Q3 2023 | YoY change (%) | |
| Operating revenue (RMB) | 4,642,653,988.77 | 23.39% | 15,952,670,483.87 | 24.98% |
| Net profit attributable to the listed company’s shareholders (RMB) | 1,033,160,506.48 | 46.78% | 3,812,634,873.99 | 45.37% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 1,012,080,336.13 | 46.86% | 3,743,201,226.89 | 45.19% |
| Net cash generated from/used in operating activities (RMB) | — | — | 5,719,625,786.18 | 12.98% |
| Basic earnings per share (RMB/share) | 1.95 | 46.62% | 7.21 | 45.36% |
| Diluted earnings per share (RMB/share) | 1.95 | 46.62% | 7.21 | 45.36% |
| Weighted average return on equity (%) | 5.11% | 1.12% | 18.67% | 3.98% |
| 30 September 2023 | 31 December 2022 | Change (%) | ||
| Total assets (RMB) | 34,965,642,084.84 | 29,789,822,298.65 | 17.37% | |
| Equity attributable to the listed company’s shareholders (RMB) | 20,739,862,947.65 | 18,520,757,973.52 | 11.98% | |
(II) Exceptional Gains and Losses? Applicable □ Not applicable
Unit: RMB
| Item | Q3 2023 | Q1-Q3 2023 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | -119,559.93 | -1,303,447.85 | |
| Government grants through profit or loss (exclusive of government grants continuously given in the Company’s ordinary course of business at fixed quotas or amounts as per the government’s policies and standards) | 8,570,084.63 | 35,674,662.51 | |
| 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 | 7,114,146.32 | 32,114,546.43 |
| effective portion of hedges that arise in the Company’s ordinary course of business) | |||
| Reversed portions of impairment allowances for receivables which are tested individually for impairment | 0.00 | 98,239.02 | |
| Non-operating income and expense other than the above | 14,821,789.76 | 40,527,094.62 | |
| Less: Income tax effects | 7,331,848.20 | 26,316,671.11 | |
| Non-controlling interests effects (net of tax) | 1,974,442.23 | 11,360,776.52 | |
| Total | 21,080,170.35 | 69,433,647.10 | -- |
Other items that meet the definition of exceptional gain/loss:
□Applicable ? Not applicable
No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:
□Applicable ? Not applicable
No such cases in the Reporting Period.
(III) Changes in Key Financial Statement Line Items and Explanation
? Applicable □ Not applicable
| Balance sheet items | 30 September 2023 (RMB) | 1 January 2023 (RMB) | Change (%) | Main reason for change |
| Held-for-trading financial assets | 714,701,677.18 | 1,782,687,769.66 | -59.91% | Disinvestment in wealth management products upon maturity |
| Receivables financing | 1,641,927,221.94 | 217,419,441.32 | 655.19% | Increased bank acceptance notes received |
| Other receivables | 161,544,175.02 | 73,337,415.74 | 120.28% | Increased payments for sales promotion and marketing |
| Investment property | 47,541,712.04 | 13,396,881.96 | 254.87% | Increase in properties leased out |
| Short-term borrowings | 0.00 | 83,232,176.31 | -100.00% | Repayment of short-term borrowings |
| Contract liabilities | 3,315,119,200.42 | 826,636,478.35 | 301.04% | Increased sales orders |
| Long-term borrowings | 174,253,006.94 | 44,944,737.91 | 287.71% | Increased borrowings of Yellow Crane Tower |
| Income statement items | Q1-Q3 2023 (RMB) | Q1-Q3 2022 (RMB) | Change (%) | Main reason for change |
| Operating profit | 5,214,565,034.18 | 3,628,606,316.21 | 43.71% | Increased sales revenue |
| Non-operating income | 64,536,823.91 | 39,321,949.96 | 64.12% | Increased fines and compensation income |
| Non-operating expense | 25,617,256.03 | 10,747,776.47 | 138.35% | Increased donation expenditures |
| Net profit | 3,910,758,500.21 | 2,708,722,768.34 | 44.38% | Increased sales revenue |
| Cash flow statement items | Q1-Q3 2023 (RMB) | Q1-Q3 2022 (RMB) | Change (%) | Main reason for change |
| Tax and levy rebates | 27,474,101.01 | 4,225,211.17 | 550.24% | Increased tax and levy rebates |
| Proceeds from disinvestment | 1,830,098,239.02 | 8,167,512,732.49 | -77.59% | Decreased disinvestment in wealth management products upon maturity |
| Borrowings received | 149,200,000.00 | 60,000,000.00 | 148.67% | Increased borrowings of Yellow Crane Tower |
| Interest and dividends paid | 1,594,882,967.48 | 1,167,345,271.14 | 36.62% | Increased dividend payout |
II Shareholder Information(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as wellas Holdings of Top 10 Shareholders
Unit: share
| Number of ordinary shareholders | 25,795 | 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, marked or frozen | |||
| Status | Shares | |||||||
| ANHUI GUJING GROUP COMPANY LIMITED | State-owned legal person | 51.13% | 270,259,022 | In pledge | 30,000,000 | |||
| BANK OF CHINA-CHINA MERCHANTS CHINA SECURITIES LIQUOR INDEX | Other | 1.95% | 10,296,679 | |||||
| CLASSIFICATION SECURITIES INVESTMENT FUND | ||||||
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED- INVESCO GREAT WALL EMERGING GROWTH HYBRID SECURITIES INVESTMENT FUND | Other | 1.89% | 9,999,951 | |||
| AGRICULTURAL BANK OF CHINA－E FUND CONSUMPTION SECTOR STOCK SECURITIES INVESTMENT FUND | Other | 1.60% | 8,476,808 | |||
| CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LTD | Foreign legal person | 1.60% | 8,468,764 | |||
| UBS (LUX) EQUITY FUND - CHINA OPPORUNITY (USD) | Foreign legal person | 1.30% | 6,896,661 | |||
| HONG KONG SECURITIES | Foreign legal person | 1.29% | 6,840,456 |
| CLEARING COMPANY LTD. | ||||||
| GAOLING FUND,L.P. | Foreign legal person | 1.23% | 6,523,428 | |||
| GREENWOODS CHINA ALPHA MASTER FUND | Foreign legal person | 1.14% | 6,049,760 | |||
| BANK OF CHINA- INVESCO GREAT WALL DINGYI HYBRID SECURITIES INVESTMENT FUND (LOF) | Other | 0.95% | 5,017,603 | |||
| Top 10 unrestricted shareholders | ||||||
| Name of shareholder | Unrestricted ordinary shares held | Shares by class | ||||
| Class | Shares | |||||
| ANHUI GUJING GROUP COMPANY LIMITED | 270,259,022 | RMB-denominated ordinary share | 270,259,022 | |||
| BANK OF CHINA-CHINA MERCHANTS CHINA SECURITIES LIQUOR INDEX CLASSIFICATION SECURITIES INVESTMENT FUND | 10,296,679 | RMB-denominated ordinary share | 10,296,679 | |||
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED- INVESCO GREAT WALL EMERGING GROWTH HYBRID SECURITIES INVESTMENT FUND | 9,999,951 | RMB-denominated ordinary share | 9,999,951 | |||
| AGRICULTURAL BANK OF CHINA－E FUND CONSUMPTION SECTOR STOCK SECURITIES INVESTMENT FUND | 8,476,808 | RMB-denominated ordinary share | 8,476,808 | |||
| CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LTD | 8,468,764 | Domestically listed foreign share | 8,468,764 | |||
| UBS (LUX) EQUITY FUND - | 6,896,661 | Domestically | 6,896,661 | |||
| CHINA OPPORUNITY (USD) | listed foreign share | ||
| HONG KONG SECURITIES CLEARING COMPANY LTD. | 6,840,456 | RMB-denominated ordinary share | 6,840,456 |
| GAOLING FUND,L.P. | 6,523,428 | Domestically listed foreign share | 6,523,428 |
| GREENWOODS CHINA ALPHA MASTER FUND | 6,049,760 | Domestically listed foreign share | 6,049,760 |
| BANK OF CHINA- INVESCO GREAT WALL DINGYI HYBRID SECURITIES INVESTMENT FUND (LOF) | 5,017,603 | RMB-denominated ordinary share | 5,017,603 |
| 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) | Since October 2021, the Company's controlling shareholder Gujing Group has conducted the business of "Refinancing by Lending Securities", and as of 30 September 2023, 1,145,000 lent shares were outstanding with no transfer of the ownership of these shares. | ||
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□Applicable ? Not applicable
III Other Significant Events
□Applicable ? Not applicable
IV Quarterly Financial Statements
(I) Financial Statements
1. Consolidated Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited
30 September 2023
Unit: RMB
| Item | 30 September 2023 | 1 January 2023 |
| Current assets: | ||
| Monetary assets | 16,674,461,050.61 | 13,772,561,141.30 |
| Settlement reserve | ||
| Loans to other banks and financial institutions | ||
| Held-for-trading financial assets | 714,701,677.18 | 1,782,687,769.66 |
| Derivative financial assets | ||
| Notes receivable | ||
| Accounts receivable | 69,919,303.13 | 62,688,668.94 |
| Receivables financing | 1,641,927,221.94 | 217,419,441.32 |
| Prepayments | 182,970,049.15 | 233,995,661.69 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 161,544,175.02 | 73,337,415.74 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Financial assets purchased under resale agreements | ||
| Inventories | 6,443,609,531.05 | 6,058,106,090.88 |
| Contract assets | 546,215.81 | 1,855,188.15 |
| Assets held for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 138,606,664.16 | 125,568,725.51 |
| Total current assets | 26,028,285,888.05 | 22,328,220,103.19 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Debt investments | ||
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 10,252,431.80 | 10,154,235.98 |
| Investments in other equity instruments | 61,861,300.94 | 56,447,789.94 |
| Other non-current financial assets | ||
| Investment property | 47,541,712.04 | 13,396,881.96 |
| Fixed assets | 3,281,309,747.06 | 2,741,844,586.30 |
| Construction in progress | 3,232,341,722.77 | 2,454,703,251.44 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 21,766,880.71 | 32,562,171.10 |
| Intangible assets | 1,121,288,641.64 | 1,108,125,157.05 |
| Development costs | ||
| Goodwill | 561,364,385.01 | 561,364,385.01 |
| Long-term prepaid expense | 43,927,982.54 | 51,012,977.31 |
| Deferred income tax assets | 549,867,392.28 | 425,120,227.37 |
| Other non-current assets | 5,834,000.00 | 6,870,532.00 |
| Total non-current assets | 8,937,356,196.79 | 7,461,602,195.46 |
| Total assets | 34,965,642,084.84 | 29,789,822,298.65 |
| Current liabilities: | ||
| Short-term borrowings | 0.00 | 83,232,176.31 |
| Borrowings from the central bank | ||
| Loans from other banks and financial institutions | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 651,730,000.00 | 695,740,000.00 |
| Accounts payable | 1,990,227,349.54 | 2,054,063,559.15 |
| Advances from customers | ||
| Contract liabilities | 3,315,119,200.42 | 826,636,478.35 |
| 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 | 803,208,846.38 | 795,138,305.63 |
| Taxes and levies payable | 1,209,240,467.45 | 1,205,028,130.02 |
| Other payables | 3,030,133,666.08 | 3,261,763,838.80 |
| 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 | 29,209,387.52 | 42,237,345.11 |
| Other current liabilities | 1,778,095,703.03 | 1,044,664,441.58 |
| Total current liabilities | 12,806,964,620.42 | 10,008,504,274.95 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | 174,253,006.94 | 44,944,737.91 |
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | 11,061,561.34 | 18,631,395.93 |
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | ||
| Deferred income | 101,044,927.56 | 103,714,978.95 |
| Deferred income tax liabilities | 282,776,407.66 | 281,173,154.70 |
| Other non-current liabilities | ||
| Total non-current liabilities | 569,135,903.50 | 448,464,267.49 |
| Total liabilities | 13,376,100,523.92 | 10,456,968,542.44 |
| Owners’ equity: | ||
| Share capital | 528,600,000.00 | 528,600,000.00 |
| Other equity instruments | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Capital reserves | 6,224,747,667.10 | 6,224,747,667.10 |
| Less: Treasury stock | ||
| Other comprehensive income | -7,321,160.25 | 408,739.61 |
| Specific reserve | ||
| Surplus reserves | 269,402,260.27 | 269,402,260.27 |
| General reserve | ||
| Retained earnings | 13,724,434,180.53 | 11,497,599,306.54 |
| Total equity attributable to owners of the Company as the parent | 20,739,862,947.65 | 18,520,757,973.52 |
| Non-controlling interests | 849,678,613.27 | 812,095,782.69 |
| Total owners’ equity | 21,589,541,560.92 | 19,332,853,756.21 |
| Total liabilities and owners’ equity | 34,965,642,084.84 | 29,789,822,298.65 |
Legal representative: Liang Jinhui The Company’s chief accountant: Zhu JiafengHead of the Company’s financial department: Zhu Jiafeng
2. Consolidated Income Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2023 | Q1~Q3 2022 |
| 1. Revenues | 15,952,670,483.87 | 12,764,649,465.86 |
| Including: Operating revenue | 15,952,670,483.87 | 12,764,649,465.86 |
| Interest income | ||
| Insurance premium income | ||
| Fee and commission income |
| 2. Costs and expenses | 10,754,223,608.52 | 9,154,472,902.48 |
| Including: Cost of sales | 3,343,855,826.63 | 3,011,925,609.00 |
| 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 | 2,293,099,280.99 | 1,960,651,152.86 |
| Selling expense | 4,363,197,563.47 | 3,623,969,601.99 |
| Administrative expense | 872,449,543.70 | 734,363,784.44 |
| Development costs | 45,407,554.86 | 41,679,560.88 |
| Finance costs | -163,786,161.13 | -218,116,806.69 |
| Including: Interest expense | 1,727,067.52 | 4,155,901.18 |
| Interest income | 167,923,759.11 | 221,611,375.12 |
| Add: Other income | 35,670,066.51 | 39,335,812.58 |
| Return on investment (“-” for loss) | -32,592,873.01 | -21,522,470.03 |
| Including: Share of profit or loss of joint ventures and associates | 98,195.82 | 146,546.88 |
| 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) | 30,454,851.54 | -3,361,722.75 |
| Credit impairment loss (“-” for loss) | 89,755.67 | -1,073,688.58 |
| Asset impairment loss (“-” for loss) | -17,812,316.77 | 4,343,131.74 |
| Asset disposal income (“-” for loss) | 308,674.89 | 708,689.87 |
| 3. Operating profit (“-” for loss) | 5,214,565,034.18 | 3,628,606,316.21 |
| Add: Non-operating income | 64,536,823.91 | 39,321,949.96 |
| Less: Non-operating expense | 25,617,256.03 | 10,747,776.47 |
| 4. Gross profit (“-” for loss) | 5,253,484,602.06 | 3,657,180,489.70 |
| Less: Income tax expense | 1,342,726,101.85 | 948,457,721.36 |
| 5. Net profit (“-” for net loss) | 3,910,758,500.21 | 2,708,722,768.34 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 3,910,758,500.21 | 2,708,722,768.34 |
| 5.1.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5.2 By ownership | ||
| 5.2.1 Net profit attributable to shareholders of the Company as the parent (“-” for net loss) | 3,812,634,873.99 | 2,622,689,684.69 |
| 5.2.2 Net profit attributable to non-controlling interests (“-” for net loss) | 98,123,626.22 | 86,033,083.65 |
| 6. Other comprehensive income, net of tax | -6,160,008.30 | -143,129.94 |
| Attributable to owners of the Company as the parent | -7,729,899.86 | -1,228,532.91 |
| 6.1 Items that will not be reclassified to profit or loss | 2,436,079.94 | 1,498,953.52 |
| 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 | 2,436,079.94 | 1,498,953.52 |
| 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 | -10,165,979.80 | -2,727,486.43 |
| 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 | -10,165,979.80 | -2,727,486.43 |
| 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 | 1,569,891.56 | 1,085,402.97 |
| 7. Total comprehensive income | 3,904,598,491.91 | 2,708,579,638.40 |
| 7.1 Attributable to owners of the Company as the parent | 3,804,904,974.13 | 2,621,461,151.78 |
| 7.2 Attributable to non-controlling interests | 99,693,517.78 | 87,118,486.62 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 7.21 | 4.96 |
| 8.2 Diluted earnings per share | 7.21 | 4.96 |
Legal representative: Liang Jinhui The Company’s chief accountant: Zhu JiafengHead of the Company’s financial department: Zhu Jiafeng
3. Consolidated Cash Flow Statement for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2023 | Q1~Q3 2022 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 17,349,755,297.26 | 13,992,713,794.24 |
| 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 | 27,474,101.01 | 4,225,211.17 |
| Cash generated from other operating activities | 1,219,982,214.13 | 735,658,255.69 |
| Subtotal of cash generated from operating activities | 18,597,211,612.40 | 14,732,597,261.10 |
| Payments for commodities and services | 2,744,644,703.85 | 2,056,810,320.53 |
| 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 | 2,822,198,725.74 | 2,333,432,357.97 |
| Taxes and levies paid | 5,350,100,855.40 | 4,097,395,265.60 |
| Cash used in other operating activities | 1,960,641,541.23 | 1,182,225,879.28 |
| Subtotal of cash used in operating activities | 12,877,585,826.22 | 9,669,863,823.38 |
| Net cash generated from/used in operating activities | 5,719,625,786.18 | 5,062,733,437.72 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 1,830,098,239.02 | 8,167,512,732.49 |
| Return on investment | 50,105,869.81 | 1,067,121.16 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 1,375,735.00 | 1,486,883.80 |
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 1,881,579,843.83 | 8,170,066,737.45 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 1,693,381,360.26 | 1,234,207,242.10 |
| Payments for investments | 765,000,000.00 | 2,514,575,094.67 |
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | 13,439,262.05 | 0.00 |
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 2,471,820,622.31 | 3,748,782,336.77 |
| Net cash generated from/used in investing activities | -590,240,778.48 | 4,421,284,400.68 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | 4,000,000.00 | 6,000,000.00 |
| Including: Capital contributions by non-controlling interests to subsidiaries | 4,000,000.00 | 6,000,000.00 |
| Borrowings received | 149,200,000.00 | 60,000,000.00 |
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | 153,200,000.00 | 66,000,000.00 |
| Repayment of borrowings | 113,000,000.00 | 130,891,054.01 |
| Interest and dividends paid | 1,594,882,967.48 | 1,167,345,271.14 |
| Including: Dividends paid by subsidiaries to non-controlling interests | 5,304,511.69 | 0.00 |
| Cash used in other financing activities | 21,678,419.83 | 12,248,812.01 |
| Subtotal of cash used in financing activities | 1,729,561,387.31 | 1,310,485,137.16 |
| Net cash generated from/used in financing activities | -1,576,361,387.31 | -1,244,485,137.16 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | ||
| 5. Net increase in cash and cash equivalents | 3,553,023,620.39 | 8,239,532,701.24 |
| Add: Cash and cash equivalents, beginning of the period | 13,105,373,435.22 | 6,057,550,178.60 |
| 6. Cash and cash equivalents, end of the period | 16,658,397,055.61 | 14,297,082,879.84 |
(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation ofthe New Accounting Standards Implemented since 2023
□ Applicable ? Not applicable
(III) Independent Auditor’s ReportIndicate 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.
Anhui Gujing Distillery Company Limited
Board of Directors28 October 2023