ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2021
October 2021
Stock Code: 000596, 200596 Stock Name: Gujing Distillery, Gujing Distillery-B Announcement No. 2021-037
ANHUI GUJING DISTILLERY COMPANY LIMITED
THIRD QUARTERLY REPORT 2021
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.
□ Yes √ No
| Q3 2021 | YoY change (%) | Q1-Q3 2021 | YoY change (%) | |
| Operating revenue (RMB) | 3,094,775,914.80 | 21.37% | 10,102,272,382.54 | 25.19% |
| Net profit attributable to the listed company’s shareholders (RMB) | 590,128,559.28 | 15.09% | 1,968,932,387.74 | 28.05% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and | 563,373,758.33 | 14.24% | 1,901,659,019.32 | 26.69% |
| losses (RMB) | ||||
| Net cash generated from/used in operating activities (RMB) | —— | —— | 3,952,672,262.13 | 53.21% |
| Basic earnings per share (RMB/share) | 1.11 | 8.82% | 3.85 | 26.23% |
| Diluted earnings per share (RMB/share) | 1.11 | 8.82% | 3.85 | 26.23% |
| Weighted average return on equity (%) | 3.71% | -2.02% | 15.53% | -0.72% |
| 30 September 2021 | 31 December 2020 | Change (%) | ||
| Total assets (RMB) | 24,897,227,812.30 | 15,186,625,708.79 | 63.94% | |
| Equity attributable to the listed company’s shareholders (RMB) | 16,211,876,406.67 | 10,043,288,013.73 | 61.42% | |
(II) Exceptional Gains and Losses
√ Applicable □ Not applicable
Unit: RMB
| Item | Q3 2021 | Q1-Q3 2021 | Note |
| Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) | -1,690,674.08 | -3,808,029.12 | |
| 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) | 5,386,305.08 | 40,102,575.54 | |
| 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 effective portion of hedges that arise in the Company’s ordinary course of business) | 6,193,208.48 | 12,663,308.69 | |
| Reversed portions of impairment allowances for receivables which are tested individually for impairment | 0.00 | 1,949,809.53 | |
| Non-operating income and expense other than the above | 26,348,791.37 | 51,918,228.07 |
| Less: Income tax effects | 8,984,856.63 | 25,578,238.03 | |
| Non-controlling interests effects (net of tax) | 497,973.27 | 9,974,286.26 | |
| Total | 26,754,800.95 | 67,273,368.42 | -- |
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 2021 (RMB) | 31 December 2020 (RMB) | Change (%) | Main reason for change |
| Monetary assets | 13,875,436,474.05 | 5,971,212,569.66 | 132.37% | Arrival of raised funds and increase in cash proceeds from sale of goods |
| Accounts receivable | 39,089,927.66 | 67,933,735.91 | -42.46% | Decrease in accounts receivable of Anhui Gujing Yunshang E-commerce Co., Ltd. from its customers |
| Prepayments | 200,566,434.11 | 55,575,543.21 | 260.89% | Increase in prepayments for advertising and procurement |
| Other receivables | 49,668,257.16 | 33,451,121.48 | 48.48% | Increase in prepayment for marketing service |
| Construction in progress | 632,355,876.24 | 279,169,201.60 | 126.51% | Increase in investments in the intelligent park project |
| Deferred income tax assets | 147,840,011.47 | 96,972,421.95 | 52.46% | Increase in deductible temporary differences relating to accrued expenses |
| Short-term borrowings | 92,255,166.33 | 70,665,500.00 | 30.55% | Short-term borrowings arising from the acquisition of Mingguang Distillery |
| Contract liabilities | 2,792,760,736.48 | 1,206,573,886.26 | 131.46% | Increase in orders |
| Taxes and levies | 734,499,523.61 | 349,142,692.10 | 110.37% | Increase in sales revenue |
| Long-term borrowings | 155,144,437.50 | 60,117,638.89 | 158.07% | Increase in borrowings of Yellow Crane Tower |
| Deferred income tax liabilities | 195,666,409.76 | 114,821,451.24 | 70.41% | Increase in the valuation of acquired assets in a business combination |
| Income statement items | Q1-Q3 2021 (RMB) | Q1-Q3 2020 (RMB) | Change (%) | Main reason for change |
| R&D expense | 33,094,095.13 | 24,415,175.52 | 35.55% | Increase in R&D investments |
| Other income | 40,087,717.90 | 23,491,542.76 | 70.65% | Increase in government grants related to income |
| Non-operating income | 52,942,882.45 | 36,221,004.38 | 46.17% | Increase in penalty and compensation income |
| Non-operating expense | 5,831,361.32 | 24,806,037.98 | -76.49% | Last year saw donations made in the pandemic |
| Cash flow statement items | Q1-Q3 2021 (RMB) | Q1-Q3 2020 (RMB) | Change (%) | Main reason for change |
| Net cash generated from/used in operating activities | 3,952,672,262.13 | 2,579,860,186.58 | 53.21% | Increase in cash proceeds from sale of goods |
| Subtotal of cash generated from financing activities | 5,138,157,169.81 | 70,325,500.00 | 7,206.25% | Cash proceeds from a designated placement of shares |
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 | 27,468 | 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 | 51.34% | 271,404,022 | In pledge | 114,000,000 | |||
| BANK OF CHINA-CHINA MERCHANTS CHINA SECURITIES LIQUOR INDEX CLASSIFICATION SECURITIES | Other | 3.10% | 16,398,323 | 1,900,000 | ||||
| INVESTMENT FUND | ||||||
| GAOLING FUND,L.P. | Foreign legal person | 2.35% | 12,446,408 | |||
| AGRICULTURAL BANK OF CHINA－E FUND CONSUMPTION SECTOR STOCK SECURITIES INVESTMENT FUND | Other | 2.03% | 10,722,402 | 1,000,000 | ||
| INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED- INVESCO GREAT WALL EMERGING GROWTH HYBRID SECURITIES INVESTMENT FUND | Other | 1.89% | 9,999,951 | |||
| CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LTD | Foreign legal person | 1.65% | 8,710,452 | |||
| UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) | Foreign legal person | 1.33% | 7,048,161 | |||
| HONG KONG SECURITIES | Foreign legal person | 1.05% | 5,564,705 |
| CLEARING COMPANY LTD. | ||||||
| BANK OF CHINA- INVESCO GREAT WALL DINGYI HYBRID SECURITIES INVESTMENT FUND (LOF) | Other | 0.95% | 4,995,403 | |||
| GREENWOODS CHINA ALPHA MASTER FUND | Foreign legal person | 0.87% | 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 | |||
| BANK OF CHINA-CHINA MERCHANTS CHINA SECURITIES LIQUOR INDEX CLASSIFICATION SECURITIES INVESTMENT FUND | 14,498,323 | RMB-denominated ordinary share | 14,498,323 | |||
| GAOLING FUND,L.P. | 12,446,408 | Domestically listed foreign share | 12,446,408 | |||
| 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 | 9,722,402 | RMB-denominated ordinary share | 9,722,402 | |||
| CHINA INTERNATIONAL CAPITAL CORPORATION HONG KONG SECURITIES LTD | 8,710,452 | Domestically listed foreign share | 8,710,452 | |||
| UBS (LUX) EQUITY FUND - CHINA OPPORTUNITY (USD) | 7,048,161 | Domestically listed foreign share | 7,048,161 |
| HONG KONG SECURITIES CLEARING COMPANY LTD. | 5,564,705 | RMB-denominated ordinary share | 5,564,705 |
| BANK OF CHINA- INVESCO GREAT WALL DINGYI HYBRID SECURITIES INVESTMENT FUND (LOF) | 4,995,403 | RMB-denominated ordinary share | 4,995,403 |
| 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 | ||
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
III Other Significant Events
√ Applicable □ Not applicable
Approved by the China Securities Regulatory Commission under CSRC Permit [2021] No. 1422, the Company issuedRMB25,000,000 ordinary shares (A shares) to specific targets on 23 June 2021 at an issuing price of RMB200.00 per share, raisingtotal proceeds of RMB5,000,000,000.00. After deducting the expenses related to the issue of RMB45,657,925.15 (excluding VAT),the actual net proceeds raised were RMB4,954,342,074.85. RSM (special ordinary partnership) has audited the availability of thefunds raised from the non-public offering of shares of the Company on 29 June 2021 and issued Capital Verification Report R.C.Y.Z[2021] No. 518Z0050. The above shares were registered with the Shenzhen Branch of CSDC on 12 July 2021 and listed on theShenzhen Stock Exchange on 22 July 2021.
IV Quarterly Financial Statements(I) Financial Statements
1. Consolidated Balance Sheet
Unit: RMB
| Item | 30 September 2021 | 31 December 2020 |
| Current assets: | ||
| Monetary assets | 13,875,436,474.05 | 5,971,212,569.66 |
| Settlement reserve | ||
| Loans to other banks and financial institutions | ||
| Held-for-trading financial assets | 215,308,026.65 | 203,877,915.51 |
| Derivative financial assets | ||
| Notes receivable | ||
| Accounts receivable | 39,089,927.66 | 67,933,735.91 |
| Receivables financing | 1,734,068,755.94 | 1,673,510,794.51 |
| Prepayments | 200,566,434.11 | 55,575,543.21 |
| Premiums receivable | ||
| Reinsurance receivables | ||
| Receivable reinsurance contract reserve | ||
| Other receivables | 49,668,257.16 | 33,451,121.48 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Financial assets purchased under resale agreements | ||
| Inventories | 4,288,706,536.45 | 3,416,880,808.96 |
| Contract assets | ||
| Assets held for sale | ||
| Current portion of non-current assets | ||
| Other current assets | 105,363,247.68 | 97,412,681.26 |
| Total current assets | 20,508,207,659.70 | 11,519,855,170.50 |
| Non-current assets: | ||
| Loans and advances to customers | ||
| Debt investments |
| Other debt investments | ||
| Long-term receivables | ||
| Long-term equity investments | 5,059,284.53 | 4,915,575.83 |
| Investments in other equity instruments | 55,435,209.70 | 0.00 |
| Other non-current financial assets | ||
| Investment property | 4,155,086.68 | 4,392,943.54 |
| Fixed assets | 1,809,287,766.00 | 1,797,789,271.62 |
| Construction in progress | 632,355,876.24 | 279,169,201.60 |
| Productive living assets | ||
| Oil and gas assets | ||
| Right-of-use assets | 46,570,414.12 | 0.00 |
| Intangible assets | 1,066,136,943.29 | 934,711,977.79 |
| Development costs | ||
| Goodwill | 561,364,385.01 | 478,283,495.29 |
| Long-term prepaid expense | 58,799,375.56 | 64,591,933.65 |
| Deferred income tax assets | 147,840,011.47 | 96,972,421.95 |
| Other non-current assets | 2,015,800.00 | 5,943,717.02 |
| Total non-current assets | 4,389,020,152.60 | 3,666,770,538.29 |
| Total assets | 24,897,227,812.30 | 15,186,625,708.79 |
| Current liabilities: | ||
| Short-term borrowings | 92,255,166.33 | 70,665,500.00 |
| Borrowings from the central bank | ||
| Loans from other banks and financial institutions | ||
| Held-for-trading financial liabilities | ||
| Derivative financial liabilities | ||
| Notes payable | 90,004,336.16 | 140,614,535.60 |
| Accounts payable | 575,595,861.93 | 505,206,561.86 |
| Advances from customers | ||
| Contract liabilities | 2,792,760,736.48 | 1,206,573,886.26 |
| 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 | 483,014,198.13 | 498,129,114.76 |
| Taxes and levies payable | 734,499,523.61 | 349,142,692.10 |
| Other payables | 1,903,171,249.45 | 1,396,599,161.14 |
| 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 | 826,619,080.89 | 320,792,383.03 |
| Total current liabilities | 7,497,920,152.98 | 4,487,723,834.75 |
| Non-current liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | 155,144,437.50 | 60,117,638.89 |
| Bonds payable | ||
| Including: Preference shares | ||
| Perpetual bonds | ||
| Lease liabilities | 43,371,048.45 | 0.00 |
| Long-term payables | ||
| Long-term employee benefits payable | ||
| Provisions | ||
| Deferred income | 94,231,513.22 | 75,111,997.53 |
| Deferred income tax liabilities | 195,666,409.76 | 114,821,451.24 |
| Other non-current liabilities | ||
| Total non-current liabilities | 488,413,408.93 | 250,051,087.66 |
| Total liabilities | 7,986,333,561.91 | 4,737,774,922.41 |
| Owners’ equity: | ||
| Share capital | 528,600,000.00 | 503,600,000.00 |
| Other equity instruments | ||
| Including: Preference shares |
| Perpetual bonds | ||
| Capital reserves | 6,224,747,667.10 | 1,295,405,592.25 |
| Less: Treasury stock | ||
| Other comprehensive income | 713,930.35 | 0.00 |
| Specific reserve | ||
| Surplus reserves | 256,902,260.27 | 256,902,260.27 |
| General reserve | ||
| Retained earnings | 9,200,912,548.95 | 7,987,380,161.21 |
| Total equity attributable to owners of the Company as the parent | 16,211,876,406.67 | 10,043,288,013.73 |
| Non-controlling interests | 699,017,843.72 | 405,562,772.65 |
| Total owners’ equity | 16,910,894,250.39 | 10,448,850,786.38 |
| Total liabilities and owners’ equity | 24,897,227,812.30 | 15,186,625,708.79 |
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 2021 | Q1~Q3 2020 |
| 1. Revenues | 10,102,272,382.54 | 8,069,420,987.05 |
| Including: Operating revenue | 10,102,272,382.54 | 8,069,420,987.05 |
| Interest income | ||
| Insurance premium income | ||
| Fee and commission income | ||
| 2. Costs and expenses | 7,482,458,725.55 | 6,048,515,730.11 |
| Including: Cost of sales | 2,419,835,477.14 | 1,938,077,825.09 |
| 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 | 1,522,415,676.18 | 1,290,465,095.80 |
| Selling expense | 2,903,172,050.97 | 2,366,972,926.92 |
| Administrative expense | 747,389,656.18 | 567,702,216.75 |
| Development costs | 33,094,095.13 | 24,415,175.52 |
| Finance costs | -143,448,230.05 | -139,117,509.97 |
| Including: Interest expense | 6,694,359.93 | 31,518,587.66 |
| Interest income | 149,666,958.87 | 170,768,434.29 |
| Add: Other income | 40,087,717.90 | 23,491,542.76 |
| Return on investment (“-” for loss) | -17,000,830.67 | 18,463,230.02 |
| Including: Share of profit or loss of joint ventures and associates | 143,708.70 | -76,927.61 |
| 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) | 11,430,111.14 | -1,981,950.58 |
| Credit impairment loss (“-” for loss) | 1,968,827.69 | -315,641.04 |
| Asset impairment loss (“-” for loss) | 2,464,519.26 | -5,693,185.77 |
| Asset disposal income (“-” for loss) | 1,013,535.46 | 730,090.21 |
| 3. Operating profit (“-” for loss) | 2,659,777,537.77 | 2,055,599,342.54 |
| Add: Non-operating income | 52,942,882.45 | 36,221,004.38 |
| Less: Non-operating expense | 5,831,361.32 | 24,806,037.98 |
| 4. Gross profit (“-” for loss) | 2,706,889,058.90 | 2,067,014,308.94 |
| Less: Income tax expense | 678,416,189.86 | 534,449,002.12 |
| 5. Net profit (“-” for net loss) | 2,028,472,869.04 | 1,532,565,306.82 |
| 5.1 By operating continuity | ||
| 5.1.1 Net profit from continuing operations (“-” for net loss) | 2,028,472,869.04 | 1,532,565,306.82 |
| 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 | 1,968,932,387.74 | 1,537,681,004.06 |
| 5.2.2 Net profit attributable to non-controlling interests | 59,540,481.30 | -5,115,697.24 |
| 6. Other comprehensive income, net of tax | 1,189,883.92 | 0.00 |
| Attributable to owners of the Company as the parent | 713,930.35 | 0.00 |
| 6.1 Items that will not be reclassified to profit or loss | 713,930.35 | 0.00 |
| 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 | 713,930.35 | 0.00 |
| 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 | 475,953.57 | 0.00 |
| 7. Total comprehensive income | 2,029,662,752.96 | 1,532,565,306.82 |
| Attributable to owners of the Company as the parent | 1,969,646,318.09 | 1,537,681,004.06 |
| Attributable to non-controlling interests | 60,016,434.87 | -5,115,697.24 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 3.85 | 3.05 |
| 8.2 Diluted earnings per share | 3.85 | 3.05 |
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 2021 | Q1~Q3 2020 |
| 1. Cash flows from operating activities: | ||
| Proceeds from sale of commodities and rendering of services | 11,907,897,641.67 | 8,647,831,451.67 |
| 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 | 4,051,124.97 | 3,381,080.29 |
| Cash generated from other operating activities | 3,610,815,913.86 | 2,308,969,284.28 |
| Subtotal of cash generated from operating activities | 15,522,764,680.50 | 10,960,181,816.24 |
| Payments for commodities and services | 1,816,278,619.78 | 1,792,820,288.01 |
| 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 | 2,033,419,180.70 | 1,893,631,550.54 |
| Taxes and levies paid | 2,893,034,927.30 | 2,454,548,768.00 |
| Cash used in other operating activities | 4,827,359,690.59 | 2,239,321,023.11 |
| Subtotal of cash used in operating activities | 11,570,092,418.37 | 8,380,321,629.66 |
| Net cash generated from/used in operating activities | 3,952,672,262.13 | 2,579,860,186.58 |
| 2. Cash flows from investing activities: | ||
| Proceeds from disinvestment | 406,849,809.53 | 319,970,000.00 |
| Return on investment | 1,258,650.24 | 18,539,603.54 |
| Net proceeds from the disposal of fixed assets, intangible assets and other long-lived assets | 1,583,399.30 | 1,932,156.95 |
| Net proceeds from the disposal of subsidiaries and other business units | ||
| Cash generated from other investing activities | ||
| Subtotal of cash generated from investing activities | 409,691,859.07 | 340,441,760.49 |
| Payments for the acquisition of fixed assets, intangible assets and other long-lived assets | 417,254,078.37 | 402,634,821.93 |
| Payments for investments | 444,897,000.00 | 64,798,000.00 |
| Net increase in pledged loans granted | ||
| Net payments for the acquisition of subsidiaries and other business units | 65,123,508.25 | 0.00 |
| Cash used in other investing activities | 6,700,000,000.00 | 0.00 |
| Subtotal of cash used in investing activities | 7,627,274,586.62 | 467,432,821.93 |
| Net cash generated from/used in investing activities | -7,217,582,727.55 | -126,991,061.44 |
| 3. Cash flows from financing activities: | ||
| Capital contributions received | 4,962,827,169.81 | 0.00 |
| Including: Capital contributions by non-controlling interests to subsidiaries | 5,280,000.00 | 0.00 |
| Borrowings received | 175,330,000.00 | 70,325,500.00 |
| Cash generated from other financing activities | ||
| Subtotal of cash generated from financing activities | 5,138,157,169.81 | 70,325,500.00 |
| Repayment of borrowings | 261,137,703.59 | 0.00 |
| Interest and dividends paid | 760,762,724.42 | 823,969,175.61 |
| Including: Dividends paid by subsidiaries to non-controlling interests | 0.00 | 68,058,219.79 |
| Cash used in other financing activities | 16,728,887.78 | 0.00 |
| Subtotal of cash used in financing activities | 1,038,629,315.79 | 823,969,175.61 |
| Net cash generated from/used in financing activities | 4,099,527,854.02 | -753,643,675.61 |
| 4. Effect of foreign exchange rates changes on cash and cash equivalents | ||
| 5. Net increase in cash and cash equivalents | 834,617,388.60 | 1,699,225,449.53 |
| Add: Cash and cash equivalents, beginning of the period | 5,636,903,693.74 | 2,944,749,918.09 |
| 6. Cash and cash equivalents, end of the period | 6,471,521,082.34 | 4,643,975,367.62 |
(II) Adjustments to the Financial Statements
1. Adjustments to the Financial Statements at the Beginning of the First Execution Year (2021) of the NewAccounting Standards Governing Leases
√ Applicable □ Not applicable
Whether the Company needs to adjust items in balance sheet at the beginning of the year
√ Yes □ No
Consolidated Balance Sheet
Unit: RMB
| Item | 31 December 2020 | 1 January 2021 | Adjusted |
| Current assets: | |||
| Monetary assets | 5,971,212,569.66 | 5,971,212,569.66 | |
| Settlement reserve | |||
| Loans to other banks and financial institutions | |||
| Held-for-trading financial assets | 203,877,915.51 | 203,877,915.51 | |
| Derivative financial assets | |||
| Notes receivable | |||
| Accounts receivable | 67,933,735.91 | 67,933,735.91 | |
| Receivables financing | 1,673,510,794.51 | 1,673,510,794.51 | |
| Prepayments | 55,575,543.21 | 51,399,808.11 | -4,175,735.10 |
| Premiums receivable | |||
| Reinsurance receivables | |||
| Receivable reinsurance contract reserve | |||
| Other receivables | 33,451,121.48 | 33,451,121.48 | |
| Including: Interest receivable | |||
| Dividends receivable | |||
| Financial assets purchased under resale agreements | |||
| Inventories | 3,416,880,808.96 | 3,416,880,808.96 | |
| Contract assets | |||
| Assets held for sale | |||
| Current portion of non-current assets |
| Other current assets | 97,412,681.26 | 97,412,681.26 | |
| Total current assets | 11,519,855,170.50 | 11,515,679,435.40 | -4,175,735.10 |
| Non-current assets: | |||
| Loans and advances to customers | |||
| Debt investments | |||
| Other debt investments | |||
| Long-term receivables | |||
| Long-term equity investments | 4,915,575.83 | 4,915,575.83 | |
| Investments in other equity instruments | |||
| Other non-current financial assets | |||
| Investment property | 4,392,943.54 | 4,392,943.54 | |
| Fixed assets | 1,797,789,271.62 | 1,797,789,271.62 | |
| Construction in progress | 279,169,201.60 | 279,169,201.60 | |
| Productive living assets | |||
| Oil and gas assets | |||
| Right-of-use assets | 0.00 | 57,402,412.53 | 57,402,412.53 |
| Intangible assets | 934,711,977.79 | 934,711,977.79 | |
| Development costs | |||
| Goodwill | 478,283,495.29 | 478,283,495.29 | |
| Long-term prepaid expense | 64,591,933.65 | 64,591,933.65 | |
| Deferred income tax assets | 96,972,421.95 | 96,972,421.95 | |
| Other non-current assets | 5,943,717.02 | 5,943,717.02 | |
| Total non-current assets | 3,666,770,538.29 | 3,724,172,950.82 | 57,402,412.53 |
| Total assets | 15,186,625,708.79 | 15,239,852,386.22 | 53,226,677.43 |
| Current liabilities: | |||
| Short-term borrowings | 70,665,500.00 | 70,665,500.00 | |
| Borrowings from the central bank | |||
| Loans from other banks and financial institutions | |||
| Held-for-trading financial liabilities |
| Derivative financial liabilities | |||
| Notes payable | 140,614,535.60 | 140,614,535.60 | |
| Accounts payable | 505,206,561.86 | 505,206,561.86 | |
| Advances from customers | |||
| Contract liabilities | 1,206,573,886.26 | 1,206,573,886.26 | |
| 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 | 498,129,114.76 | 498,129,114.76 | |
| Taxes and levies payable | 349,142,692.10 | 349,142,692.10 | |
| Other payables | 1,396,599,161.14 | 1,396,599,161.14 | |
| 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 | 320,792,383.03 | 320,792,383.03 | |
| Total current liabilities | 4,487,723,834.75 | 4,487,723,834.75 | |
| Non-current liabilities: | |||
| Insurance contract reserve | |||
| Long-term borrowings | 60,117,638.89 | 60,117,638.89 | |
| Bonds payable | |||
| Including: Preference shares | |||
| Perpetual |
| bonds | |||
| Lease liabilities | 0.00 | 53,226,677.43 | 53,226,677.43 |
| Long-term payables | |||
| Long-term employee benefits payable | |||
| Provisions | |||
| Deferred income | 75,111,997.53 | 75,111,997.53 | |
| Deferred income tax liabilities | 114,821,451.24 | 114,821,451.24 | |
| Other non-current liabilities | |||
| Total non-current liabilities | 250,051,087.66 | 303,277,765.09 | 53,226,677.43 |
| Total liabilities | 4,737,774,922.41 | 4,791,001,599.84 | 53,226,677.43 |
| 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 | 7,987,380,161.21 | 7,987,380,161.21 | |
| Total equity attributable to owners of the Company as the parent | 10,043,288,013.73 | 10,043,288,013.73 | |
| Non-controlling interests | 405,562,772.65 | 405,562,772.65 | |
| Total owners’ equity | 10,448,850,786.38 | 10,448,850,786.38 | |
| Total liabilities and owners’ equity | 15,186,625,708.79 | 15,239,852,386.22 | 53,226,677.43 |
NoteThe Ministry of Finance issued the Accounting Standard for Business Enterprises No. 21 - Leases (C.K. [2018] No. 35) in 2018, andthe Company implemented the new leasing standard since 1 January 2021, and adjusted the amounts of relevant items in the financialstatements at the beginning of the year of first implementation based on the cumulative effect of the first implementation of the new
leasing standard, without adjusting the information of the comparable period. The above policy change increased right-of-use assetsby RMB57,402,412.53, increased lease liabilities by RMB53,226,677.43 and decreased prepayments by RMB4,175,735.10.
2. Retrospective Adjustments to the Comparative Data of Prior Periods due to the First Execution in 2021of the New Accounting Standards Governing Leases
□ 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 Directors30 October 2021