ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTER REPORT 2019
October 2019
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 (togetherwith its consolidated subsidiaries, the “Company”, except where the context otherwiserequires) hereby guarantee the factuality, accuracy and completeness of the contents of thisReport and its summary, and shall be jointly and severally liable for any misrepresentations,misleading statements or material omissions therein.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 arefactual, 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 Information
I Key Consolidated Financial InformationIndicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
| 30 September 2019 | 31 December 2018 | Change (%) | ||||
| Total assets (RMB) | 13,265,837,811.82 | 12,509,928,449.72 | 6.04% | |||
| Equity attributable to the listed company’s shareholders (RMB) | 8,588,195,185.21 | 7,601,984,024.58 | 12.97% | |||
| Q3 2019 | YoY change (%) | Q1-Q3 2019 | YoY change (%) | |||
| Operating revenue (RMB) | 2,214,767,350.88 | 11.91% | 8,202,880,349.97 | 21.31% | ||
| Net profit attributable to the listed company’s shareholders (RMB) | 493,294,846.62 | 35.78% | 1,741,611,160.63 | 38.69% | ||
| Net profit attributable to the listed company’s shareholders before exceptional items (RMB) | 444,380,739.57 | 28.00% | 1,610,375,324.09 | 32.04% | ||
| Net cash generated from/used in operating activities (RMB) | -- | -- | 2,241,371,504.76 | -11.67% | ||
| Basic earnings per share (RMB/share) | 0.98 | 36.11% | 3.46 | 38.96% | ||
| Diluted earnings per share (RMB/share) | 0.98 | 36.11% | 3.46 | 38.96% | ||
| Weighted average return on equity (%) | 6.95% | 1.03% | 21.18% | 3.03% | ||
| Item | Q1-Q3 2019 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | -1,264,176.82 | |
| Government subsidies recognized in the current period, except for those acquired in the ordinary course of business or granted at certain quotas or amounts according to the government’s unified standards | 44,269,941.91 | |
| Gain/Loss on changes in fair value arising from holding of trading financial assets and liabilities, derivative financial assets and liabilities and investment income from disposal of trading | 123,457,671.32 |
| financial assets and liabilities, derivative financial assets and liabilities and other investments in debt obligation other than effective hedge business related to the Company’s normal operating businesses | ||
| Other non-operating income and expense other than the above | 23,973,103.11 | |
| Less: Income tax effects | 47,055,752.14 | |
| Non-controlling interests effects (net of tax) | 12,144,950.84 | |
| Total | 131,235,836.54 | -- |
| Number of ordinary shareholders | 23,360 | 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 | Other | 2.45% | 12,324,779 | |||||
| INVESTMENT FUND | ||||||
| HONG KONG SECURITIES CLEARING COMPANY LTD. | Foreign legal person | 2.04% | 10,294,450 | |||
| CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD | Foreign legal person | 1.72% | 8,657,025 | |||
| UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) | Foreign legal person | 1.40% | 7,068,861 | |||
| CENTRAL HUIJIN ASSET MANAGEMENT CO., LTD. | State-owned legal person | 1.30% | 6,543,600 | |||
| NORGES BANK | Foreign legal person | 1.24% | 6,249,311 | |||
| GREENWOODS CHINA ALPHA MASTER FUND | Foreign legal person | 1.12% | 5,657,150 | |||
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-JINGSHUN GREATWALL EMERGING GROWTH HYBRID SECURITIES INVESTMENT FUND | Other | 1.05% | 5,299,950 | |||
| Top 10 unrestricted shareholders | ||||||
| Name of shareholder | Unrestricted shares | Shares by type | ||||
| Type | Shares | ||
| ANHUI GUJING GROUP COMPANY LIMITED | 271,404,022 | RMB-denominated ordinary stock | 271,404,022 |
| GAOLING FUND,L.P. | 12,446,408 | Domestically listed foreign stock | 12,446,408 |
| AGRICULTURAL BANK OF CHINA- E FUND CONSUMPTION SECTOR STOCK SECURITIES INVESTMENT FUND | 12,324,779 | RMB-denominated ordinary stock | 12,324,779 |
| HONG KONG SECURITIES CLEARING COMPANY LTD. | 10,294,450 | RMB-denominated ordinary stock | 10,294,450 |
| CHINA INT'L CAPITAL CORP HONG KONG SECURITIES LTD | 8,657,025 | Domestically listed foreign stock | 8,657,025 |
| UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) | 7,068,861 | Domestically listed foreign stock | 7,068,861 |
| CENTRAL HUIJIN ASSET MANAGEMENT CO., LTD. | 6,543,600 | RMB-denominated ordinary stock | 6,543,600 |
| NORGES BANK | 6,249,311 | Domestically listed foreign stock | 6,249,311 |
| GREENWOODS CHINA ALPHA MASTER FUND | 5,657,150 | Domestically listed foreign stock | 5,657,150 |
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED-JINGSHUN GREATWALL EMERGING GROWTH HYBRID SECURITIES INVESTMENT FUND | 5,299,950 | RMB-denominated ordinary stock | 5,299,950 |
| Related or acting-in-concert parties among shareholders above | Among the shareholders above, the Company’s controlling shareholder—Anhui Gujing Group Company Limited—is not a connected 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 connected 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 ordinary shareholders involved in securities margin trading | N/A | ||
(if any)
Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of theCompany conducted any promissory repo during the Reporting Period.
□ Yes √ No
No such cases in the Reporting Period.
2. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
Part III Significant EventsI Changes in Selected Consolidated Financial Statement Line Items and Explanation of why
√ Applicable □ Not applicable
Unit: RMB
| Balance sheet item | 30 September 2019 | 31 December 2018 | Change (%) | Explanation of why |
| Monetary capital | 3,696,303,467.62 | 1,705,760,865.12 | 116.70% | Increase in cash received from sales and investments |
| Other receivables | 21,798,848.07 | 43,342,878.22 | -49.71% | Decrease in interests receivable |
| Other current assets | 13,520,098.86 | 3,012,478,687.20 | -99.55% | The main reason is the reclassification of financial assets. |
| Construction in progress | 214,689,618.57 | 93,320,557.56 | 130.06% | The main reason is the establishment of digital information system |
| Other non-current assets | 1,270,574,026.00 | 16,544,407.51 | 7,579.78% | Increase in investments and financing |
| Notes payable | 534,364,252.21 | 349,203,413.72 | 53.02% | Increase in signing and issuing of commercial bills |
| Payroll payable | 266,282,737.94 | 457,299,476.43 | -41.77% | Increase in payment of remuneration |
| Income statement item | Q1~Q3 2019 | Q1~Q3 2018 | Change (%) | Explanation of why |
| R&D expense | 25,719,404.29 | 11,993,003.62 | 114.45% | Increase in R&D input |
| Other income | 44,662,596.55 | 11,725,901.76 | 280.89% | Increase in receipt of income-related government subsidies |
| Cash flow statement item | Q1~Q3 2019 | Q1~Q3 2018 | Change (%) | Explanation of why |
| Tax refunds received | 20,674,445.06 | 5,652,636.00 | 265.75% | Increase in tax refunds received |
| Cash received from withdrawal of investments | 3,337,200,054.88 | 1,947,182,948.35 | 71.39% | Increase in cash received from withdrawal of investments and financing due to maturity |
| Cash paid for distributing dividends and profits or paying interests | 755,400,000.00 | 503,600,000.00 | 50.00% | Increase in distribution of dividends |
III Commitments that the Company, Shareholders, the Company’s Actual Controller,Acquirer, Directors, Supervisors, and Senior Executives or other Related Parties, Fulfilled inthe Reporting Period or still Ongoing at Period-End
□ Applicable √ Not applicable
No such cases in the Reporting Period.
IV 2019 Annual Operating Performance ForecastWarning of a forecast loss on or a forecast significant year-on-year change in net profit for year 2019, as well as explanation of why:
□ Applicable √ Not applicable
V Securities Investments
√ Applicable □ Not applicable
Unit: RMB
| Security type | Security code | Security name | Initial investment cost | Measurement method | Beginning carrying amount | Gain/Loss on fair-value changes in Reporting Period | Accumulated fair-value changes charged to equity | Purchased in Reporting Period | Sold in Reporting Period | Gain/Loss in Reporting Period | Ending carrying amount | Accounting title | Funding source |
| Other | ZXYSDP 1st Assets Management Plan | 200,000,000.00 | Fair value method | 206,393,107.46 | 17,197,481.92 | 0.00 | 0.00 | 0.00 | 0.00 | 223,590,589.38 | Trading financial assets | Self-funded | |
| Total | 200,000,000.00 | -- | 206,393,107.46 | 17,197,481.92 | 0.00 | 0.00 | 0.00 | 0.00 | 223,590,589.38 | -- | -- | ||
| Disclosure date of announcement on Board’s consent for securities investments | Naught | ||||||||||||
| Disclosure date of announcement on general meeting’s consent for securities investments (if any) | Naught | ||||||||||||
Unit: RMB’0,000 (in RMB ten thousand yuan)
| Type of wealth management | Funding source | Principal | Outstanding amount before maturity | Overdue amount |
| Wealth management product purchased from bank | Self-funded | 302,900 | 86,600 | 0.00 |
| Wealth management product purchased from broker | Self-funded | 18,000 | 0.00 | 0.00 |
| Wealth management product purchased from entrustment | Self-funded | 30,000 | 0.00 | 0.00 |
| Others | Self-funded | 20,000 | 20,000 | 0.00 |
| Total | 370,900 | 106,600 | 0.00 | |
| Trustee | Type of trustee | Type of wealth management product | Principal (Unit: RMB’0,000) | Funding source | Start date | End date | Investment with principal | Way of payback | Reference annualized return (%) | Expected return (if any) | Actual gain/loss in Reporting Period (Unit: RMB’0,000) | Collection/payment of gain/loss in Reporting Period | Impairment allowance (if any) | Through prescribed procedure or not | Any plan for further entrustment | Overview and index to more information (if any) |
| CITIC Wings Asset Management Company Limited | Company Limited | Assets management plan | 20,000 | Self-funded | Purchasing new shares offline, fixed income instruments, and | 1.2% of the net value of product and 20% of excess | 6.00% | 0.00 | N/A | 0.00 | Yes | Yes |
| Reverse repurchase of national debt, etc | earnings | |||||||||||||
| Total | 20,000 | -- | -- | -- | -- | -- | -- | 0.00 | -- | 0.00 | -- | -- | -- |
| 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 | Naught | No | Reverse repurchase of national debt | 0.00 | 28 December 2018 | 30 June 2019 | 17,990 | 1,090 | 19,080 | 0.00 | 0.00% | 0.35 | |
| Total | 0.00 | -- | -- | 17,990 | 1,090 | 19,080 | 0.00 | 0.00% | 0.35 | ||||
| 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 should include measurement method and related assumptions and parameters) | Naught |
| 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. |
VIII Visits Paid to the Company for Purposes of Research, Communication, Interview, etc.during Reporting Period
□ Applicable √ Not applicable
No such cases in the Reporting Period.IX Irregularities in Provision of Guarantees for External Parties
□ Applicable √ Not applicable
No such cases in the Reporting Period.X Occupation of the Company’s Capital by Controlling Shareholder or Its Related Parties forNon-Operating Purposes
□ Applicable √ Not applicable
No such cases in the Reporting Period.
Part IV Financial Statements
I Financial Statements
1. Consolidated Balance Sheet
Prepared by Anhui Gujing Distillery Company Limited
30 September 2019
Unit: RMB
| Item | 30 September 2019 | 31 December 2018 |
| Current assets: | ||
| Monetary capital | 3,696,303,467.62 | 1,705,760,865.12 |
| Settlement reserve | ||
| Interbank loans granted | ||
| Trading financial assets | 1,182,590,589.38 | 0.00 |
| Financial assets at fair value through profit or loss | 0.00 | 622,892.96 |
| Derivative financial assets | ||
| Notes receivable | 1,205,217,571.01 | 1,347,427,811.34 |
| Accounts receivable | 30,776,795.29 | 29,748,068.74 |
| Accounts receivable financing | ||
| Prepayments | 128,268,357.38 | 182,558,000.75 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 21,798,848.07 | 43,342,878.22 |
| Including: Interests receivable | 0.00 | 24,923,178.08 |
| Dividends receivable | ||
| Financial assets purchased under resale agreements | ||
| Inventories | 2,460,013,044.40 | 2,407,306,664.86 |
| Contractual assets | ||
| Assets classified as held for sale | ||
| Current portion of non-current assets | 0.00 | 300,000,000.00 |
| Other current assets | 13,520,098.86 | 3,012,478,687.20 |
| Total current assets | 8,738,488,772.01 | 9,029,245,869.19 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Investments in debt obligations | ||
| Available-for-sale financial assets | 0.00 | 206,393,107.46 |
| Investments in other debt obligations | ||
| Held-to-maturity investments | ||
| Long-term receivables | ||
| Long-term equity investments | 4,769,375.34 | 4,900,000.00 |
| Investments in other equity instruments | ||
| Other non-current financial assets | ||
| Investment property | 4,789,371.67 | 5,027,228.53 |
| Fixed assets | 1,657,696,280.27 | 1,763,988,530.56 |
| Construction in progress | 214,689,618.57 | 93,320,557.56 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 728,660,670.42 | 742,083,609.10 |
| R&D expense | ||
| Goodwill | 478,283,495.29 | 478,283,495.29 |
| Long-term prepaid expense | 69,290,325.48 | 83,561,473.46 |
| Deferred income tax assets | 98,595,876.77 | 86,580,171.06 |
| Other non-current assets | 1,270,574,026.00 | 16,544,407.51 |
| Total non-current assets | 4,527,349,039.81 | 3,480,682,580.53 |
| Total assets | 13,265,837,811.82 | 12,509,928,449.72 |
| Current liabilities: | ||
| Short-term borrowings | ||
| Borrowings from central bank | ||
| Interbank loans obtained | ||
| Trading financial liabilities | ||
| Financial liabilities at fair value through profit or loss | ||
| Derivative financial liabilities |
| Notes payable | 534,364,252.21 | 349,203,413.72 |
| Accounts payable | 379,566,637.85 | 484,952,598.59 |
| Advances from customers | 889,878,114.36 | 1,149,143,310.48 |
| Contractual liabilities | ||
| Financial assets sold under repurchase agreements | ||
| Customer deposits and interbank deposits | ||
| Payables for acting trading of securities | ||
| Payables for underwriting of securities | ||
| Payroll payable | 266,282,737.94 | 457,299,476.43 |
| Taxes payable | 374,653,268.64 | 372,993,624.18 |
| Other payables | 1,307,511,367.33 | 1,192,020,147.82 |
| Including: Interest payable | ||
| Dividends payable | ||
| Handling charges and commissions payable | ||
| Reinsurance payable | ||
| Liabilities directly associated with assets classified as held for sale | ||
| Current portion of non-current liabilities | ||
| Other current liabilities | 278,907,017.40 | 295,164,745.44 |
| Total current liabilities | 4,031,163,395.73 | 4,300,777,316.66 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | ||
| Long-term payables | ||
| Long-term payroll payable | ||
| Provisions | ||
| Deferred income | 73,566,143.65 | 76,636,500.55 |
| Deferred income tax liabilities | 105,495,063.97 | 102,764,515.11 |
| Other non-current liabilities | ||
| Total non-current liabilities | 179,061,207.62 | 179,401,015.66 |
| Total liabilities | 4,210,224,603.35 | 4,480,178,332.32 |
| Owners’ equity: | ||
| Share capital | 503,600,000.00 | 503,600,000.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserves | 1,295,405,592.25 | 1,295,405,592.25 |
| Less: Treasury stock | ||
| Other comprehensive income | 0.00 | 4,794,830.59 |
| Specific reserve | ||
| Surplus reserves | 256,902,260.27 | 256,902,260.27 |
| General reserve | ||
| Retained earnings | 6,532,287,332.69 | 5,541,281,341.47 |
| Total equity attributable to owners of the Company as the parent | 8,588,195,185.21 | 7,601,984,024.58 |
| Non-controlling interests | 467,418,023.26 | 427,766,092.82 |
| Total owners’ equity | 9,055,613,208.47 | 8,029,750,117.40 |
| Total liabilities and owners’ equity | 13,265,837,811.82 | 12,509,928,449.72 |
| Item | 30 September 2019 | 31 December 2018 |
| Current assets: | ||
| Monetary capital | 2,715,636,124.24 | 1,078,172,917.59 |
| Trading financial assets | 889,590,589.38 | 0.00 |
| Financial assets at fair value through profit or loss | 0.00 | 622,892.96 |
| Derivative financial assets | ||
| Notes receivable | 945,951,910.95 | 1,256,336,386.34 |
| Accounts receivable | 12,315,991.92 | 9,385,950.54 |
| Accounts receivable financing | ||
| Prepayments | 36,280,673.79 | 10,869,911.54 |
| Other receivables | 86,032,697.25 | 110,800,665.19 |
| Including: Interests receivable | ||
| Dividends receivable | ||
| Inventories | 2,088,506,955.04 | 2,125,826,967.11 |
| Contractual assets | ||
| Assets classified as held for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 0.00 | 1,764,267,968.83 |
| Total current assets | 6,774,314,942.57 | 6,356,283,660.10 |
| Non-current assets: | ||
| Investments in debt obligations | ||
| Available-for-sale financial assets | 0.00 | 206,393,107.46 |
| Investments in other debt obligations | ||
| Held-to-maturity 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 | 4,789,371.67 | 24,715,657.40 |
| Fixed assets | 1,235,047,264.11 | 1,290,714,455.79 |
| Construction in progress | 175,684,124.11 | 86,634,753.93 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | ||
| Intangible assets | 184,454,384.36 | 189,968,142.25 |
| R&D expense | ||
| Goodwill | ||
| Long-term prepaid expense | 46,629,222.80 | 56,643,945.05 |
| Deferred income tax assets | 20,829,351.24 | 37,415,458.17 |
| Other non-current assets | 574,026.00 | 12,474,026.00 |
| Total non-current assets | 2,816,221,409.61 | 3,053,173,211.37 |
| Total assets | 9,590,536,352.18 | 9,409,456,871.47 |
| Current liabilities: | ||
| Short-term borrowings | ||
| Trading financial liabilities | ||
| Financial liabilities at fair value through profit or loss | ||
| Derivative financial liabilities | ||
| Notes payable | 48,266,234.40 | 28,648,913.72 |
| Accounts payable | 326,366,511.31 | 362,290,556.21 |
| Advances from cu | 1,282,992,147.54 | 1,123,125,892.84 |
| Contractual liabilities | ||
| Payroll payable | 73,149,434.31 | 117,748,485.96 |
| Taxes payable | 233,134,193.16 | 161,176,957.25 |
| Other payables | 239,324,288.73 | 372,902,293.22 |
| Including: Interests payable | ||
| Dividends payable | ||
| Liabilities directly associated with assets classified as held for sale | ||
| Current portion of non-current liabilities | ||
| Other current liabilities | 3,966,911.24 | 32,605,794.55 |
| Total current liabilities | 2,207,199,720.69 | 2,198,498,893.75 |
| Non-current liabilities: | ||
| Long-term borrowings | ||
| Bonds payable | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Lease liabilities | ||
| Long-term payables | ||
| Long-term payroll payable | ||
| Provisions | ||
| Deferred income | 33,863,587.71 | 36,417,554.85 |
| Deferred income tax liabilities | 9,045,546.24 | 4,828,737.52 |
| Other non-current liabilities |
| Total non-current liabilities | 42,909,133.95 | 41,246,292.37 |
| Total liabilities | 2,250,108,854.64 | 2,239,745,186.12 |
| Owners’ equity: | ||
| Share capital | 503,600,000.00 | 503,600,000.00 |
| Other equity instruments | ||
| Including: Preferred shares | ||
| Perpetual bonds | ||
| Capital reserves | 1,247,162,107.35 | 1,247,162,107.35 |
| Less: Treasury stock | ||
| Other comprehensive income | 4,794,830.59 | |
| Specific reserve | ||
| Surplus reserves | 251,800,000.00 | 251,800,000.00 |
| Retained earnings | 5,337,865,390.19 | 5,162,354,747.41 |
| Total owners’ equity | 7,340,427,497.54 | 7,169,711,685.35 |
| Total liabilities and owners’ equity | 9,590,536,352.18 | 9,409,456,871.47 |
| Item | Q3 2019 | Q3 2018 |
| 1. Revenue | 2,214,767,350.88 | 1,979,015,719.48 |
| Including: Operating revenue | 2,214,767,350.88 | 1,979,015,719.48 |
| Interest income | ||
| Premium income | ||
| Handling charge and commission income | ||
| 2. Operating costs and expenses | 1,606,834,684.29 | 1,533,956,349.59 |
| Including: Cost of sales | 549,495,046.47 | 449,656,771.27 |
| Interest expense | ||
| Handling charge and commission expense | ||
| Surrenders | ||
| Net claims paid | ||
| Net amount provided as insurance contract reserve | ||
| Expenditure on policy dividends |
| Reinsurance premium expense | ||
| Taxes and surcharges | 339,483,400.01 | 262,259,812.95 |
| Selling expense | 572,186,624.20 | 655,345,557.85 |
| Administrative expense | 155,163,347.70 | 159,034,927.22 |
| R&D expense | 11,055,166.62 | 3,965,869.26 |
| Finance costs | -20,548,900.71 | 3,693,411.04 |
| Including: Interest expense | 12,839,179.18 | 0.00 |
| Interest income | 31,759,206.44 | 10,808,466.78 |
| Add: Other income | 13,878,677.87 | 7,238,865.71 |
| Investment income (“-” for loss) | 28,665,355.29 | 36,500,416.69 |
| Including: Share of profit or loss of joint ventures and associates | ||
| Derecognition income of financial assets measured at amortized cost | ||
| Foreign exchange gain (“-” for loss) | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | 5,994,298.28 | -255,827.36 |
| Credit impairment loss (“-” for loss) | ||
| Assets impairment loss (“-” for loss) | 159,351.46 | 5,770.66 |
| Asset disposal income (“-” for loss) | 103,277.91 | -43,358.78 |
| 3. Operating profit (“-” for loss) | 656,733,627.40 | 488,505,236.81 |
| Add: Non-operating income | 14,398,366.14 | 11,046,979.09 |
| Less: Non-operating expense | 1,313,838.64 | 2,375,421.09 |
| 4. Profit before tax (“-” for loss) | 669,818,154.90 | 497,176,794.81 |
| Less: Income tax expense | 163,503,787.54 | 123,682,385.77 |
| 5. Net profit (“-” for net loss) | 506,314,367.36 | 373,494,409.04 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 506,314,367.36 | 373,494,409.04 |
| 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 | 493,294,846.62 | 363,302,909.34 |
| 5.2.2 Net profit attributable to non-controlling interests | 13,019,520.74 | 10,191,499.70 |
| 6. Other comprehensive income, net of tax | 0.00 | -3,418,191.21 |
| Attributable to owners of the Company as the parent | 0.00 | -3,418,191.21 |
| 6.1 Items that will not be reclassified to profit or loss | ||
| 6.1.1 Changes in net liabilities or assets caused by remeasurements on defined benefit pension schemes | ||
| 6.1.2 Share of other comprehensive income of investees that will not be reclassified to profit or loss under equity method | ||
| 6.1.3 Changes in the fair value of investments in other equity instruments | ||
| 6.1.4 Changes in the fair value of the company’s credit risks | ||
| 6.1.5 Other | ||
| 6.2 Items that may subsequently be reclassified to profit or loss | 0.00 | -3,418,191.21 |
| 6.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | ||
| 6.2.2 Changes in the fair value of investments in other debt obligations | ||
| 6.2.3 Gain/Loss on changes in the fair value of available-for-sale financial assets | 0.00 | -3,418,191.21 |
| 6.2.4 Other comprehensive income arising from the reclassification of financial assets | ||
| 6.2.5 Gain/Loss arising from the reclassification of held-to-maturity investments to available-for-sale financial assets |
| 6.2.6 Allowance for credit impairments in investments in other debt obligations | ||
| 6.2.7 Reserve for cash flow hedges | ||
| 6.2.8 Differences arising from the translation of foreign currency-denominated financial statements | ||
| 6.2.9 Other | ||
| Attributable to non-controlling interests | ||
| 7. Total comprehensive income | 506,314,367.36 | 370,076,217.83 |
| Attributable to owners of the Company as the parent | 493,294,846.62 | 359,884,718.13 |
| Attributable to non-controlling interests | 13,019,520.74 | 10,191,499.70 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.98 | 0.72 |
| 8.2 Diluted earnings per share | 0.98 | 0.72 |
| Item | Q3 2019 | Q3 2018 |
| 1. Operating revenue | 1,194,365,169.31 | 966,230,506.66 |
| Less: Cost of sales | 502,553,273.90 | 407,544,411.06 |
| Taxes and surcharges | 293,611,844.72 | 224,111,296.49 |
| Selling expense | 12,543,759.60 | 56,667,185.18 |
| Administrative expense | 106,708,524.92 | 110,294,343.82 |
| R&D expense | 7,250,613.44 | 3,045,462.80 |
| Finance costs | -17,982,297.10 | 4,498,704.12 |
| Including: Interest expense | 12,839,179.18 | 0.00 |
| Interest income | 30,860,960.92 | 7,601,319.39 |
| Add: Other income | 6,167,148.89 | 6,035,419.81 |
| Investment income (“-” for loss) | 10,800,845.34 | 30,902,683.31 |
| Including: Share of profit or loss of joint ventures and associates | ||
| Derecognition income of financial assets measured at amortized cost | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | 5,994,298.28 | -255,827.36 |
| Credit impairment loss (“-” for loss) | ||
| Assets impairment loss (“-” for loss) | ||
| Asset disposal income (“-” for loss) | ||
| 2. Operating profit (“-” for loss) | 312,641,742.34 | 196,751,378.95 |
| Add: Non-operating income | 11,030,693.23 | 8,922,115.32 |
| Less: Non-operating expense | 825,676.96 | 2,344,326.21 |
| 3. Profit before tax (“-” for loss) | 322,846,758.61 | 203,329,168.06 |
| Less: Income tax expense | 80,711,689.66 | 51,037,972.71 |
| 4. Net profit (“-” for net loss) | 242,135,068.95 | 152,291,195.35 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 242,135,068.95 | 152,291,195.35 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5. Other comprehensive income, net of tax | 0.00 | -3,389,900.15 |
| 5.1 Items that will not be reclassified to profit or loss | ||
| 5.1.1 Changes in net liabilities or assets caused by remeasurements on defined benefit pension 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 of the company’s credit risks |
| 5.1.5 Other | ||
| 5.2 Items that may subsequently be reclassified to profit or loss | 0.00 | -3,389,900.15 |
| 5.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | ||
| 5.2.2 Changes in the fair value of investments in other debt obligations | ||
| 5.2.3 Gain/Loss on changes in the fair value of available-for-sale financial assets | 0.00 | -3,389,900.15 |
| 5.2.4 Other comprehensive income arising from the reclassification of financial assets | ||
| 5.2.5 Gain/Loss arising from the reclassification of held-to-maturity investments to available-for-sale financial assets | ||
| 5.2.6 Allowance for credit impairments in investments in other debt obligations | ||
| 5.2.7 Reserve for cash flow hedges | ||
| 5.2.8 Differences arising from the translation of foreign currency-denominated financial statements | ||
| 5.2.9 Other | ||
| 6. Total comprehensive income | 242,135,068.95 | 148,901,295.20 |
| 7. Earnings per share | ||
| 7.1 Basic earnings per share | 0.48 | 0.30 |
| 7.2 Diluted earnings per share | 0.48 | 0.30 |
| Item | Q1~Q3 2019 | Q1~Q3 2018 |
| 1. Revenue | 8,202,880,349.97 | 6,762,099,614.81 |
| Including: Operating revenue | 8,202,880,349.97 | 6,762,099,614.81 |
| Interest income |
| Premium income | ||
| Handling charge and commission income | ||
| 2. Operating costs and expenses | 6,023,415,690.08 | 5,163,614,737.70 |
| Including: Cost of sales | 1,943,651,781.02 | 1,492,332,239.51 |
| Interest expense | ||
| Handling charge and commission expense | ||
| Surrenders | ||
| Net claims paid | ||
| Net amount provided as policy reserve | ||
| Expenditure on policy dividends | ||
| Reinsurance premium expense | ||
| Taxes and surcharges | 1,209,011,162.05 | 991,726,986.48 |
| Selling expense | 2,412,676,063.90 | 2,252,645,873.02 |
| Administrative expense | 457,208,804.83 | 431,508,130.58 |
| R&D expense | 25,719,404.29 | 11,993,003.62 |
| Finance costs | -24,851,526.01 | -16,591,495.51 |
| Including: Interest expense | 27,013,151.27 | 0.00 |
| Interest income | 52,225,855.46 | 32,453,350.26 |
| Add: Other income | 44,662,596.55 | 11,725,901.76 |
| Investment income (“-” for loss) | 106,012,402.82 | 105,275,436.64 |
| Including: Share of profit or loss of joint ventures and associates | ||
| Derecognition income of financial assets measured at amortized cost | ||
| Foreign exchange gain (“-” for loss) | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | 17,314,643.84 | -19,119.59 |
| Credit impairment loss (“-” for loss) | ||
| Assets impairment loss (“-” for loss) | -6,262,466.61 | -1,166,140.70 |
| Asset disposal income (“-” for loss) | 222,766.47 | 111,079.03 |
| 3. Operating profit (“-” for loss) | 2,341,414,602.96 | 1,714,412,034.25 |
| Add: Non-operating income | 25,549,129.67 | 25,805,776.85 |
| Less: Non-operating expense | 3,051,449.71 | 6,813,434.13 |
| 4. Profit before tax (“-” for loss) | 2,363,912,282.92 | 1,733,404,376.97 |
| Less: Income tax expense | 582,649,191.85 | 444,472,301.01 |
| 5. Net profit (“-” for net loss) | 1,781,263,091.07 | 1,288,932,075.96 |
| 5.1 By operating continuity (“-” for net loss) | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 1,781,020,727.52 | 1,288,932,075.96 |
| 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 | 1,741,611,160.63 | 1,255,725,246.98 |
| 5.2 2. Net profit attributable to non-controlling interests | 39,651,930.44 | 33,206,828.98 |
| 6. Other comprehensive income, net of tax | 0.00 | -48,520,466.79 |
| Attributable to owners of the Company as the parent | 0.00 | -48,520,466.79 |
| 6.1 Items that will not be reclassified to profit or loss | ||
| 6.1.1 Changes in net liabilities or assets caused by remeasurements on defined benefit pension schemes | ||
| 6.1.2 Share of other comprehensive income of investees that will not be reclassified to profit or loss under equity method | ||
| 6.1.3 Changes in the fair value of investments in other equity instruments | ||
| 6.1.4 Changes in the fair value of the company’s credit risks |
| 6.1.5 Other | ||
| 6.2 Items that may subsequently be reclassified to profit or loss | 0.00 | -48,520,466.79 |
| 6.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | ||
| 6.2.2 Changes in the fair value of investments in other debt obligations | ||
| 6.2.3 Gain/Loss on changes in fair value of available-for-sale financial assets | 0.00 | -48,520,466.79 |
| 6.2.4. Other comprehensive income arising from the reclassification of financial assets | ||
| 6.2.5 Gain/Loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||
| 6.2.6 Allowance for credit impairments in investments in other debt obligations | ||
| 6.2.7 Reserve for cash flow hedges | ||
| 6.2.8 Differences arising from translation of foreign currency-denominated financial statements | ||
| 6.2.9 Other | ||
| Attributable to non-controlling interests | ||
| 7. Total comprehensive income | 1,781,263,091.07 | 1,240,411,609.17 |
| Attributable to owners of the Company as the parent | 1,741,611,160.63 | 1,207,204,780.19 |
| Attributable to non-controlling interests | 39,651,930.44 | 33,206,828.98 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 3.46 | 2.49 |
| 8.2 Diluted earnings per share | 3.46 | 2.49 |
Head of the Company’s financial department: Zhu Jiafeng
6. Income Statement of the Company as the Parent for Q1~Q3
Unit: RMB
| Item | Q1~Q3 2019 | Q1~Q3 2018 |
| 1. Operating revenue | 4,339,047,632.89 | 3,339,740,226.62 |
| Less: Cost of sales | 1,780,471,850.81 | 1,369,991,138.38 |
| Taxes and surcharges | 1,058,210,690.84 | 836,991,302.87 |
| Selling expense | 58,430,231.41 | 146,852,888.17 |
| Administrative expense | 309,366,786.60 | 293,729,948.49 |
| R&D expense | 16,286,743.25 | 10,431,247.70 |
| Finance costs | -20,041,354.26 | -12,706,830.00 |
| Including: Interest expense | 26,846,026.27 | 0.00 |
| Interest income | 48,601,883.96 | 27,845,600.69 |
| Add: Other income | 9,539,867.14 | 8,398,899.82 |
| Investment income (“-” for loss) | 42,684,714.10 | 92,204,951.64 |
| Including: Share of profit or loss of joint ventures and associates | ||
| Derecognition income of financial assets measured at amortized cost | ||
| Net gain on exposure hedges (“-” for loss) | ||
| Gain on changes in fair value (“-” for loss) | 17,314,643.84 | -19,119.59 |
| Credit impairment loss (“-” for loss) | ||
| Assets impairment loss (“-” for loss) | -6,131,316.45 | -1,440,847.72 |
| Asset disposal income (“-” for loss) | 36,552.41 | 0.00 |
| 2. Operating profit (“-” for loss) | 1,199,767,145.28 | 793,594,415.16 |
| Add: Non-operating income | 20,373,416.46 | 21,200,416.41 |
| Less: Non-operating expense | 2,050,990.73 | 5,660,670.73 |
| 3. Profit before tax (“-” for loss) | 1,218,089,571.01 | 809,134,160.84 |
| Less: Income tax expense | 291,973,758.82 | 213,614,710.77 |
| 4. Net profit (“-” for net loss) | 926,115,812.19 | 595,519,450.07 |
| 4.1 Net profit from continuing operations (“-” for net loss) | 926,115,812.19 | 595,519,450.07 |
| 4.2 Net profit from discontinued operations (“-” for net loss) | ||
| 5. Other comprehensive income, net of tax | 0.00 | -48,454,375.73 |
| 5.1 Items that will not be reclassified to profit or loss | ||
| 5.1.1 Changes in net liabilities or assets caused by remeasurements on defined benefit pension schemes | ||
| 5.1.2 Share of other comprehensive income of investees that will not be reclassified to profit or loss under equity method | ||
| 5.1.3 Changes in the fair value of investments in other debt obligations | ||
| 5.1.4 Changes in the fair value of the company’s credit risks | ||
| 5.1.5 Other | ||
| 5.2 Items that may subsequently be reclassified to profit or loss | 0.00 | -48,454,375.73 |
| 5.2.1 Share of other comprehensive income of investees that will be reclassified to profit or loss under equity method | ||
| 5.2.2 Changes in the fair value of investments in other debt obligations | ||
| 5.2.3 Gain/Loss on changes in fair value of available-for-sale financial assets | 0.00 | -48,454,375.73 |
| 5.2.4 Other comprehensive income arising from the reclassification of financial assets | ||
| 5.2.5 Gain/Loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||
| 5.2.6 Allowance for credit impairments in investments in other |
| debt obligations | ||
| 5.2.7 Reserve for cash flow hedges | ||
| 5.2.8 Differences arising from translation of foreign currency-denominated financial statements | ||
| 5.2.9 Other | ||
| 6. Total comprehensive income | 926,115,812.19 | 547,065,074.34 |
| 7. Earnings per share | ||
| 7.1 Basic earnings per share | 1.84 | 1.18 |
| 7.2 Diluted earnings per share | 1.84 | 1.18 |
| Item | Q1~Q3 2019 | Q1~Q3 2018 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 8,252,482,399.40 | 7,234,393,863.39 |
| Net increase in customer deposits and interbank deposits | ||
| Net increase in borrowings from 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, handling charges and commissions received | ||
| Net increase in interbank loans obtained | ||
| Net increase in proceeds from repurchase transactions | ||
| Net proceeds from acting trading of securities | ||
| Tax rebates | 20,674,445.06 | 5,652,636.00 |
| Cash generated from other operating activities | 711,377,701.47 | 752,962,249.94 |
| Subtotal of cash generated from operating activities | 8,984,534,545.93 | 7,993,008,749.33 |
| Payments for commodities and services | 1,579,978,848.34 | 1,161,445,122.31 |
| Net increase in loans and advances to customers | ||
| Net increase in deposits in central bank and in interbank loans granted | ||
| Payments for claims on original insurance contracts | ||
| Net increase in interbank loans granted | ||
| Interest, handling charges and commissions paid | ||
| Policy dividends paid | ||
| Cash paid to and for employees | 1,445,715,909.31 | 1,096,353,967.34 |
| Taxes paid | 2,674,734,494.33 | 2,355,225,927.92 |
| Cash used in other operating activities | 1,042,733,789.19 | 842,524,816.77 |
| Subtotal of cash used in operating activities | 6,743,163,041.17 | 5,455,549,834.34 |
| Net cash generated from/used in operating activities | 2,241,371,504.76 | 2,537,458,914.99 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 3,337,200,054.88 | 1,947,182,948.35 |
| Investment income | 131,076,489.02 | 98,688,294.81 |
| Net proceeds from disposal of fixed assets, intangible assets and other long-lived assets | 294,196.00 | 190,780.00 |
| Net proceeds from disposal of subsidiaries or other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 3,468,570,739.90 | 2,046,062,023.16 |
| Payments for acquisition of fixed assets, intangible assets and other long-lived assets | 242,619,594.59 | 236,113,190.57 |
| Payments for investments | 2,355,560,163.50 | 2,577,352,685.44 |
| Net increase in pledged loans granted |
| Net payments for acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 2,598,179,758.09 | 2,813,465,876.01 |
| Net cash generated from/used in investing activities | 870,390,981.81 | -767,403,852.85 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Including: Capital contributions by non-controlling interests to subsidiaries | ||
| Increase in borrowings obtained | ||
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | ||
| Repayment of borrowings | ||
| Payments for interest and dividends | 755,400,000.00 | 503,600,000.00 |
| Including: Dividends paid by subsidiaries to non-controlling interests | ||
| Cash used in other financing activities | ||
| Subtotal of cash used in financing activities | 755,400,000.00 | 503,600,000.00 |
| Net cash generated from/used in financing activities | -755,400,000.00 | -503,600,000.00 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | ||
| 5. Net increase in cash and cash equivalents | 2,356,362,486.57 | 1,266,455,062.14 |
| Add: Cash and cash equivalents, beginning of the period | 835,560,865.12 | 1,024,088,626.40 |
| 6. Cash and cash equivalents, end of the period | 3,191,923,351.69 | 2,290,543,688.54 |
| Item | Q1~Q3 2019 | Q1~Q3 2018 |
| 1. Cash flows from operating activities: |
| Proceeds from sale of commodities and rendering of services | 4,685,243,331.72 | 3,141,049,319.18 |
| Tax rebates | 4,448,500.00 | 4,523,679.80 |
| Cash generated from other operating activities | 659,722,935.80 | 710,469,125.62 |
| Subtotal of cash generated from operating activities | 5,349,414,767.52 | 3,856,042,124.60 |
| Payments for commodities and services | 1,129,158,021.75 | 860,712,047.84 |
| Cash paid to and for employees | 503,962,356.85 | 415,612,241.11 |
| Taxes paid | 1,655,999,073.07 | 1,443,242,295.51 |
| Cash used in other operating activities | 248,287,619.33 | 183,422,505.37 |
| Subtotal of cash used in operating activities | 3,537,407,071.00 | 2,902,989,089.83 |
| Net cash generated from/used in operating activities | 1,812,007,696.52 | 953,053,034.77 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 1,811,640,054.88 | 1,616,531,449.45 |
| Investment income | 42,691,828.68 | 94,048,416.72 |
| Net proceeds from disposal of fixed assets, intangible assets and other long-lived assets | 41,304.23 | 0.00 |
| Net proceeds from disposal of subsidiaries or other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 1,854,373,187.79 | 1,710,579,866.17 |
| Payments for acquisition of fixed assets, intangible assets and other long-lived assets | 176,617,514.16 | 149,014,040.26 |
| Payments for investments | 726,900,163.50 | 1,397,352,685.44 |
| Net payments for acquisition of subsidiaries and other business units | ||
| Cash used in other investing activities | ||
| Subtotal of cash used in investing activities | 903,517,677.66 | 1,546,366,725.70 |
| Net cash generated from/used in investing activities | 950,855,510.13 | 164,213,140.47 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | ||
| Increase in borrowings obtained | ||
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | ||
| Repayment of borrowings | ||
| Payments for interest and dividends | 755,400,000.00 | 503,600,000.00 |
| Cash used in other financing activities | ||
| Subtotal of cash used in financing activities | 755,400,000.00 | 503,600,000.00 |
| Net cash generated from/used in financing activities | -755,400,000.00 | -503,600,000.00 |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | ||
| 5. Net increase in cash and cash equivalents | 2,007,463,206.65 | 613,666,175.24 |
| Add: Cash and cash equivalents, beginning of the period | 708,172,917.59 | 826,262,109.02 |
| 6. Cash and cash equivalents, end of the period | 2,715,636,124.24 | 1,439,928,284.26 |
| Item | 31 December 2018 | 1 January 2019 | Adjusted |
| Current assets: | |||
| Monetary capital | 1,705,760,865.12 | 1,705,760,865.12 | |
| Settlement reserve | |||
| Interbank loans granted | |||
| Trading financial assets | 0.00 | 2,965,016,000.42 | 2,965,016,000.42 |
| Financial assets at fair value through profit or loss | 622,892.96 | 0.00 | -622,892.96 |
| Derivative financial assets | |||
| Notes receivable | 1,347,427,811.34 | 1,347,427,811.34 | |
| Accounts receivable | 29,748,068.74 | 29,748,068.74 | |
| Accounts receivable financing | |||
| Prepayments | 182,558,000.75 | 182,558,000.75 | |
| Premiums receivable | |||
| Reinsurance receivables | |||
| Receivable reinsurance contract reserve | |||
| Other receivables | 43,342,878.22 | 43,342,878.22 | |
| Including: Interest receivable | 24,923,178.08 | 24,923,178.08 | |
| Dividends receivable | |||
| Financial assets purchased under resale agreements | |||
| Inventories | 2,407,306,664.86 | 2,407,306,664.86 | |
| Contractual assets | |||
| Assets classified as held for sale | |||
| Current portion of non-current assets | 300,000,000.00 | 300,000,000.00 | |
| Other current assets | 3,012,478,687.20 | 254,478,687.20 | -2,758,000,000.00 |
| Total current assets | 9,029,245,869.19 | 9,235,638,976.65 | 206,393,107.46 |
| Non-current assets: | |||
| Loans and advances to customers | |||
| Investments in debt obligations | |||
| Available-for-sale financial assets | 206,393,107.46 | 0.00 | -206,393,107.46 |
| Investments in other debt obligations | |||
| Held-to-maturity investments | |||
| Long-term receivables | |||
| Long-term equity investments | 4,900,000.00 | 4,900,000.00 |
| Investments in other equity instruments | |||
| Other non-current financial assets | |||
| Investment property | 5,027,228.53 | 5,027,228.53 | |
| Fixed assets | 1,763,988,530.56 | 1,763,988,530.56 | |
| Construction in progress | 93,320,557.56 | 93,320,557.56 | |
| Productive living assets | |||
| Oil and gas assets | |||
| Right-of-use assets | |||
| Intangible assets | 742,083,609.10 | 742,083,609.10 | |
| R&D expense | |||
| Goodwill | 478,283,495.29 | 478,283,495.29 | |
| Long-term prepaid expense | 83,561,473.46 | 83,561,473.46 | |
| Deferred income tax assets | 86,580,171.06 | 86,580,171.06 | |
| Other non-current assets | 16,544,407.51 | 16,544,407.51 | |
| Total non-current assets | 3,480,682,580.53 | 3,274,289,473.07 | -206,393,107.46 |
| Total assets | 12,509,928,449.72 | 12,509,928,449.72 | |
| Current liabilities: | |||
| Short-term borrowings | |||
| Borrowings from central bank | |||
| Interbank loans obtained | |||
| Trading financial liabilities | |||
| Financial liabilities at fair value through profit or loss | |||
| Derivative financial liabilities | |||
| Notes payable | 349,203,413.72 | 349,203,413.72 | |
| Accounts payable | 484,952,598.59 | 484,952,598.59 | |
| Advances from customers | 1,149,143,310.48 | 1,149,143,310.48 | |
| Contractual liabilities | |||
| Financial assets sold under repurchase agreements | |||
| Customer deposits and interbank deposits |
| Payables for acting trading of securities | |||
| Payables for underwriting of securities | 457,299,476.43 | 457,299,476.43 | |
| Payroll payable | 372,993,624.18 | 372,993,624.18 | |
| Taxes payable | 1,192,020,147.82 | 1,192,020,147.82 | |
| Other payables | |||
| Including: Interest payable | |||
| Dividends payable | |||
| Handling charges and commissions payable | |||
| Reinsurance payables | |||
| Liabilities directly associated with assets classified as held for sale | |||
| Current portion of non-current liabilities | |||
| Other current liabilities | 295,164,745.44 | 295,164,745.44 | |
| Total current liabilities | 4,300,777,316.66 | 4,300,777,316.66 | |
| Non-current liabilities: | |||
| Insurance contract reserve | |||
| Long-term borrowings | |||
| Bonds payable | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Lease liabilities | |||
| Long-term payables | |||
| Long-term payroll payable | |||
| Provisions | |||
| Deferred income | 76,636,500.55 | 76,636,500.55 | |
| Deferred income tax liabilities | 102,764,515.11 | 102,764,515.11 | |
| Other non-current liabilities | |||
| Total non-current liabilities | 179,401,015.66 | 179,401,015.66 |
| Total liabilities | 4,480,178,332.32 | 4,480,178,332.32 | |
| Owners’ equity: | |||
| Share capital | 503,600,000.00 | 503,600,000.00 | |
| Other equity instruments | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Capital reserves | 1,295,405,592.25 | 1,295,405,592.25 | |
| Less: Treasury stock | |||
| Other comprehensive income | 4,794,830.59 | 0.00 | -4,794,830.59 |
| Specific reserve | |||
| Surplus reserves | 256,902,260.27 | 256,902,260.27 | |
| General reserve | |||
| Retained earnings | 5,541,281,341.47 | 5,546,076,172.06 | 4,794,830.59 |
| Total equity attributable to owners of the Company as the parent | 7,601,984,024.58 | 7,601,984,024.58 | |
| Non-controlling interests | 427,766,092.82 | 427,766,092.82 | |
| Total owners’ equity | 8,029,750,117.40 | 8,029,750,117.40 | |
| Total liabilities and owners’ equity | 12,509,928,449.72 | 12,509,928,449.72 |
| Item | 31 December 2018 | 1 January 2019 | Adjusted |
| Current assets: | |||
| Monetary capital | 1,078,172,917.59 | 1,078,172,917.59 | |
| Trading financial assets | 0.00 | 1,807,016,000.42 | 1,807,016,000.42 |
| Financial assets at fair value through profit or loss | 622,892.96 | 0.00 | -622,892.96 |
| Derivative financial assets | |||
| Notes receivable | 1,256,336,386.34 | 1,256,336,386.34 | |
| Accounts receivable | 9,385,950.54 | 9,385,950.54 | |
| Accounts receivable financing | |||
| Prepayments | 10,869,911.54 | 10,869,911.54 | |
| Other receivables | 110,800,665.19 | 110,800,665.19 | |
| Including: Interest receivable | |||
| Dividends receivable | |||
| Inventories | 2,125,826,967.11 | 2,125,826,967.11 | |
| Contractual assets | |||
| Assets classified as held for sale | |||
| Current portion of non-current assets | |||
| Other current assets | 1,764,267,968.83 | 164,267,968.83 | -1,600,000,000.00 |
| Total current assets | 6,356,283,660.10 | 6,562,676,767.56 | 206,393,107.46 |
| Non-current assets: | |||
| Investments in debt obligations | |||
| Available-for-sale financial assets | 206,393,107.46 | 0.00 | -206,393,107.46 |
| Investments in other debt obligations | |||
| Held-to-maturity 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 | 24,715,657.40 | 24,715,657.40 | |
| Fixed assets | 1,290,714,455.79 | 1,290,714,455.79 | |
| Construction in progress | 86,634,753.93 | 86,634,753.93 |
| Productive living assets | |||
| Oil and gas assets | |||
| Right-of-use assets | |||
| Intangible assets | 189,968,142.25 | 189,968,142.25 | |
| R&D expense | |||
| Goodwill | |||
| Long-term prepaid expense | 56,643,945.05 | 56,643,945.05 | |
| Deferred income tax assets | 37,415,458.17 | 37,415,458.17 | |
| Other non-current assets | 12,474,026.00 | 12,474,026.00 | |
| Total non-current assets | 3,053,173,211.37 | 2,846,780,103.91 | -206,393,107.46 |
| Total assets | 9,409,456,871.47 | 9,409,456,871.47 | |
| Current liabilities: | |||
| Short-term borrowings | |||
| Trading financial liabilities | |||
| Financial liabilities at fair value through profit or loss | |||
| Derivative financial liabilities | |||
| Notes payable | 28,648,913.72 | 28,648,913.72 | |
| Accounts payable | 362,290,556.21 | 362,290,556.21 | |
| Advances from customers | 1,123,125,892.84 | 1,123,125,892.84 | |
| Contractual liabilities | |||
| Payroll payable | 117,748,485.96 | 117,748,485.96 | |
| Taxes payable | 161,176,957.25 | 161,176,957.25 | |
| Other payables | 372,902,293.22 | 372,902,293.22 | |
| Including: Interest payable | |||
| Dividends payable | |||
| Liabilities directly associated with assets classified as held for sale | |||
| Current portion of non-current liabilities | |||
| Other current liabilities | 32,605,794.55 | 32,605,794.55 | |
| Total current liabilities | 2,198,498,893.75 | 2,198,498,893.75 |
| Non-current liabilities: | |||
| Long-term borrowings | |||
| Bonds payable | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Lease liabilities | |||
| Long-term payables | |||
| Long-term payroll payable | |||
| Provisions | |||
| Deferred income | 36,417,554.85 | 36,417,554.85 | |
| Deferred income tax liabilities | 4,828,737.52 | 4,828,737.52 | |
| Other non-current liabilities | |||
| Total non-current liabilities | 41,246,292.37 | 41,246,292.37 | |
| Total liabilities | 2,239,745,186.12 | 2,239,745,186.12 | |
| Owners’ equity: | |||
| Share capital | 503,600,000.00 | 503,600,000.00 | |
| Other equity instruments | |||
| Including: Preferred shares | |||
| Perpetual bonds | |||
| Capital reserves | 1,247,162,107.35 | 1,247,162,107.35 | |
| Less: Treasury stock | |||
| Other comprehensive income | 4,794,830.59 | 0.00 | -4,794,830.59 |
| Specific reserve | |||
| Surplus reserves | 251,800,000.00 | 251,800,000.00 | |
| Retained earnings | 5,162,354,747.41 | 5,167,149,578.00 | 4,794,830.59 |
| Total owners’ equity | 7,169,711,685.35 | 7,169,711,685.35 | |
| Total liabilities and owners’ equity | 9,409,456,871.47 | 9,409,456,871.47 |
(CK[2017] No. 8), Accounting Standards for Business Enterprises No. 24 – Hedging Accounting (CK[2017] No. 9), and AccountingStandards for Business Enterprises No. 37 – Presentation of Financial Instruments (CK[2017] No. 14) in 2017 after amendment, andthe Company has implemented the aforesaid new accounting standards from 1 January 2019. The previous comparative data offinancial statements inconsistent with the requirements of the new standards dispense with adjustments according to the newstandards governing financial instruments. The specific influenced items and the amount refer to the above adjustment report.
2. Retrospective Restatement of Previous Comparative Data due to the Execution of any New StandardsGoverning Financial Instruments or Leases from 2019
□ 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.
Chairman of the Board: (Liang Jinhui)
Anhui Gujing Distillery Company Limited
25 October 2019