洋河股份(002304)

洋河股份:国浩律师(南京)事务所关于江苏洋河酒厂股份有限公司第一期核心骨干持股计划之法律意见书
深圳证券交易所 2021-07-28 08:00 | 下载

国浩律师(南京)事务所
关于
江苏洋河酒厂股份有限公司
第一期核心骨干持股计划之法律意见书
中国江苏省南京市汉中门大街 309 号 B 座 5、7-8 层邮编:21003657-8F/Block B309#Hanzhongmen StreetNanjingChina Post Code: 210036
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国浩律师(南京)事务所 法律意见书
国浩律师(南京)事务所关于江苏洋河酒厂股份有限公司
第一期核心骨干持股计划之法律意见书
致:江苏洋河酒厂股份有限公司国浩律师(南京)事务所(以下简称“本所”)接受江苏洋河酒厂股份有限公司(以下简称“公司”)的委托,担任公司第一期核心骨干持股计划(以下简称“本期持股计划” 或“本持股计划)的专项法律顾问。
本所律师根据《中华人民共和国公司法》(以下简称“《公司法》”)、《中华人民共和国证券法》(以下简称“《证券法》”)、中国证券监督管理委员会(以下简称“中国证监会”)《关于上市公司实施员工持股计划试点的指导意见》(以下简称“《指导意见》”)、《深圳证券交易所上市公司信息披露指引第 4 号——员工持股计划》(以下简称“《信息披露指引第 4 号》”)等有关法律、法规及规范性文件的规定,按照中国律师行业公认的业务标准、道德规范和勤勉尽责精神,就公司本期持股计划相关事宜出具本法律意见书。
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国浩律师(南京)事务所 法律意见书
第一节律师应当声明的事项
对本所律师出具的本法律意见书,本所律师特作如下声明:
一、本所律师依据《公司法》《证券法》《律师事务所从事证券法律业务管理办法》和《律师事务所证券法律业务执业规则(试行)》等规定对本法律意见书出具日以前已经发生或存在的与本期持股计划相关的事实进行了充分的核查验证,对于出具本法律意见书至关重要而又无法得到独立证据支持的事实,本所律师依赖于有关政府部门、公司或其他有关单位出具的证明或说明文件出具法律意见。
二、在前述核查验证过程中,公司已向本所律师作出如下保证:公司已向本
所律师提供了出具本法律意见书所必需的、真实的全部原始书面材料、副本材料、书面说明及口头证言;已向本所律师提供的资料及披露的事实均不存在任何虚假、隐瞒、误导性陈述或重大遗漏;已向本所律师提供的副本资料与正本一致、复印件与原件一致,所提供文件上的所有签字和印章均真实、有效,所有口头说明均与事实一致。
三、本所律师仅对与本期持股计划有关的法律问题发表意见,不对其他问题
及会计、审计、业绩考核目标等专业事项发表意见。本法律意见书中对于有关会计、审计等专业文件之内容的引用,并不意味着本所律师对该等专业文件及所引用内容的真实性、准确性作出任何明示或默示的保证。
四、本法律意见书仅就中国法律有关的问题发表法律意见,不对境外法律或适用境外法律的事项发表意见。
五、本法律意见书仅供公司为本期持股计划之目的使用,不得用作任何其他目的。本所律师同意将本法律意见书作为公司本期持股计划所必备的法律文件,随同其他材料一起上报深圳证券交易所并予以公告;同意公司按照中国证监会、深圳证券交易所的审核要求引用本法律意见书,但公司做引用或披露时应当全面准确,不得导致对本法律意见书的理解产生错误和偏差。
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国浩律师(南京)事务所 法律意见书
第二节正文
一、公司实施本期持股计划的主体资格
(一)经本所律师核查,公司系于 2002 年 12 月 27 日发起设立的股份有限公司,经中国证监会以证监许可[2009]1077 号文件核准公开发行股票,于 2009年 11 月 6 日在深圳证券交易所上市,股票简称为“洋河股份”,股票代码为“002304”。
(二)经本所律师核查,公司为依法有效存续的股份有限公司
1.公司现持有江苏省市场监督管理局核发的统一社会信用代码为
9132000074557990XP 的《营业执照》,住所为江苏省宿迁市洋河中大街 118 号,法定代表人为张联东,注册资本为人民币 150698.8 万元,公司类型为股份有限公司(上市),营业期限自 2002 年 12 月 27 日至长期。
2.经本所律师在国家企业信用信息公示系统查询,公司的登记状态为存续(在营、开业、在册),根据公司的确认,公司不存在根据现行法律、法规及公司章程规定需要终止或解散的情形。
3. 经本所律师在深圳证券交易所网站查询,公司股票在深交所持续交易。
根据公司的确认,截至本法律意见书出具之日,公司不存在法律、法规或《深圳证券交易所股票上市规则》规定需要暂停上市、终止上市的情形。
综上,本所律师认为,截至本法律意见书出具之日,公司为依法设立并有效存续的上市公司,不存在根据现行法律、法规及规范性文件和公司章程规定需要终止、解散的情形,具备《指导意见》规定的实施本期持股计划的主体资格。
二、本期持股计划的合法合规性公司于 2021 年 7 月 15 日召开了第七届董事会第三次会议,审议通过了《关于〈江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)〉及其摘要的议案》(以下简称“《持股计划(草案)》”)等与本期持股计划相关议案。本所律师对照《指导意见》的相关规定,对公司本期持股计划逐项审核如下:
(一)根据公司的确认并经本所律师查阅公司的相关公告,公司在实施本期4
国浩律师(南京)事务所 法律意见书
持股计划时已严格按照法律、行政法规的规定履行程序,真实、准确、完整、及时地实施了信息披露,不存在他人利用本期持股计划进行内幕交易、操纵证券市场等证券欺诈行为的情形,符合《指导意见》第一条第(一)款关于依法合规原则的要求。
(二)根据《持股计划(草案)》并经公司确认,本期持股计划遵循公司自主决定,参与对象自愿参加的原则,不存在公司以摊派、强行分配等方式强制参加本期持股计划的情形,符合《指导意见》第一条第(二)款关于自愿参与原则的要求。
(三)根据《持股计划(草案)》并经公司确认,本期持股计划的参与人自负盈亏,自担风险,与其他投资者权益平等,符合《指导意见》第一条第(三)款关于风险自担原则的要求。
(四)根据《持股计划(草案)》并经公司确认,本期持股计划的持有人范
围包括公司董事(不含独立董事)、监事、高级管理人员,以及公司及全资子公司经董事会认定对公司整体业绩和中长期发展具有重要作用的中层及以上人员
和核心骨干,拟参与本期持股计划的总人数不超过 5100 人,符合《指导意见》
第二条第(四)款关于参加对象的规定。
(五)根据《持股计划(草案)》并经公司确认,本期持股计划的资金来源
为参与对象合法薪酬、自筹资金及通过法律、行政法规允许的其他方式获得的资金,公司不以任何方式向持有人提供垫资、担保、借贷等财务资助,符合《指导意见》第二条第(五)款第一项关于资金来源的规定。
(六)根据《持股计划(草案)》,本期持股计划的股票来源为公司回购专用
账户内已回购的股份,符合《指导意见》第二条第(五)款第二项关于股票来源的规定。
(七)根据《持股计划(草案)》,本期持股计划的存续期为 36 个月,自持股计划草案经公司股东大会审议通过且公司公告最后一笔标的股票过户至本持
股计划名下之日起计算;存续期届满前 1 个月,如持有的公司股票仍未全部出售或过户至持股计划份额持有人,管理委员会委员超过半数以上同意并提交公司董事会审议通过后,本持股计划的存续期可以延长;如因公司股票停牌或者敏感期5
国浩律师(南京)事务所 法律意见书
较长等情况,导致本持股计划所持有的公司股票无法在存续期届满前全部变现的,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期限可以延长;
本期持股计划的锁定期为 24 个月,自公司公告最后一笔标的股票过户至当期持股计划名下之日起计算;
以上条款符合《指导意见》第二条第(六)款第一项关于持股期限的规定。
(八)根据《持股计划(草案)》,本期持股计划实施后,本持股计划所持有
的公司股票总数累计不超过公司股本总额的 10%;单个持有人所持持股计划份额
所对应的股票总数累计不超过公司股本总额的 1%;本持股计划持有的股票总数
不包括持有人在公司首次公开发行股票上市前获得的股份、通过二级市场自行购买的股份及通过股权激励获得的股份,符合《指导意见》第二条第(六)款第二项关于持股规模的规定。
(九)根据《持股计划(草案)》,本期持股计划由公司自行管理,本期持股
计划的内部管理权力机构为持有人会议;本期持股计划设管理委员会,对持股计划负责,是持股计划的日常监督和管理机构,代表持股计划行使股东权利,符合《指导意见》第二条第(七)款的规定。
(十)根据《持股计划(草案)》,本期持股计划已经对以下事项作出了明确
规定:
1.持股计划的目的
2.持股计划的基本原则
3.持股计划持有人的确定依据和范围
4.持股计划的资金来源、股票来源、规模和购买价格5.持股计划的存续期、锁定期6.存续期内公司融资时持股计划的参与方式
7.公司与持有人的权利和义务
8.持股计划的管理机构及管理模式6
国浩律师(南京)事务所 法律意见书
9.持股计划的资产构成及权益分配
10.持股计划的变更、终止及持有人权益的处置11.持股计划存续期满后股份的处置办法
12.持股计划的会计处理
13.持股计划履行的程序
14.关联关系和一致行动关系说明
15.其他重要事项据此,本期持股计划符合《指导意见》第三条第(九)款的规定。
综上,本所律师认为,公司本期持股计划符合《指导意见》的相关规定。
三、本期持股计划所履行的程序
(一)已履行的程序
截至本法律意见书出具之日,公司为实施本期持股计划履行了如下程序:
1.公司于 2021 年 7 月 15 日召开了第七届董事会第三次会议,审议通过了《关于〈江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)〉及其摘要的议案》等议案,并同意提交公司股东大会审议,关联董事回避表决,符合《指导意见》第三条第(九)款的相关规定。
2.公司独立董事对本期持股计划发表了同意的独立意见;公司于 2021 年 7月 15 日召开了第七届监事会第三次会议,审议通过了《关于〈江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)〉及其摘要的议案》等议案,符合《指导意见》第三条第(十)款的相关规定。
3.公司于 2021 年 7 月 21 日召开职工代表大会,就拟实施持股计划事宜充分征求了员工意见,审议通过了《关于的议案》,符合《指导意见》第三条第(八)款的相关规定。
4.公司已聘请本所对本期持股计划出具法律意见书,符合《指导意见》第7
国浩律师(南京)事务所 法律意见书
三条第(十一)款的相关规定。
(二)尚需履行的程序
根据《指导意见》的规定,为实施本期持股计划,公司尚需履行下列程序:
公司应召开股东大会对《持股计划(草案)》进行审议,并在股东大会召开之前公告本法律意见书。股东大会作出决议时须经出席会议的非关联股东所持表决权的半数以上通过。
综上,本所律师认为,截至本法律意见书出具之日,公司本期持股计划已经按照《指导意见》和《信息披露指引第 4 号》的规定履行了现阶段必要的法律程序,尚需召开股东大会对本期持股计划相关事项进行审议。
四、本期持股计划的信息披露
(一)已履行的信息披露义务
公司在指定信息披露媒体上公告了董事会决议、《持股计划(草案)》及摘要、独立董事意见、监事会决议等文件,符合《指导意见》第三条第(十)款和《信息披露指引第 4 号》第八条的相关规定。
(二)尚需履行的信息披露义务
根据《指导意见》《信息披露指引第 4 号》的规定,随着本期持股计划的推进,公司尚需按照相关法律、法规及规范性文件的相应规定继续履行信息披露义务。
综上,本所律师认为,截至本法律意见书出具之日,公司就实施本期持股计划履行了现阶段所必要的信息披露义务;随着本期持股计划的推进,公司尚需按照《指导意见》《信息披露指引第 4 号》等相关法律、行政法规及规范性文件的规定继续履行相应的信息披露义务。
五、结论意见综上所述,本所律师认为:
(一)截至本法律意见书出具之日,公司具备实施本期持股计划的主体资格;
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国浩律师(南京)事务所 法律意见书
(二)公司本期持股计划符合《指导意见》的相关规定;
(三)截至本法律意见书出具之日,公司就实施本期持股计划履行了现阶段
必要的法律程序,本期持股计划尚需经公司股东大会审议通过后方可依法实施;
(四)截至本法律意见书出具之日,公司就实施本期持股计划履行了现阶段
所必要的信息披露义务;随着本期持股计划的推进,公司尚需按照《指导意见》《信息披露工作指引》等相关法律、行政法规及规范性文件的规定继续履行相应的信息披露义务。
(以下无正文,下接签署页)9
国浩律师(南京)事务所 法律意见书签署页(本页无正文,为《国浩律师(南京)事务所关于江苏洋河酒厂股份有限公
司第一期核心骨干持股计划之法律意见书》签署页)
本《法律意见书》于 2021 年 7 月 27 日出具,正本一式三份,无副本。
国浩律师(南京)事务所
负责人: 马国强 经办律师: 朱东___________________ ___________________黄萍萍
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洋河股份:关于变更2021年第二次临时股东大会现场会议地点的公告
深圳证券交易所 2021-07-27 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021-031江苏洋河酒厂股份有限公司
关于变更2021年第二次临时股东大会
现场会议地点的公告
本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
鉴于目前江苏南京出现多例新冠肺炎本土病例,为保证江苏洋河酒厂股份有限公司(以下简称“公司”)2021年第二次临时股东大会的顺利召开,基于审慎原则,现将公司本次股东大会现场会议地点由江苏省南京市雨花经济开发区凤汇大道18号(公司南京营运中心429会议室)变更
为江苏省宿迁市洋河新区酒都大道118号(公司总部办公楼1009会议室),现场会议报名登记地点由江苏省南京市雨花经济开发区凤汇大道18号(公司南京营运中心709室洋河股份证券部)变更为江苏省宿迁市洋河新
区酒都大道118号(公司总部办公楼1102室洋河股份证券部)。本次股东大会现场会议地点变更符合法律、行政法规及公司章程等相关规定。
为做好疫情防控,建议拟参加公司本次股东大会的股东尽量选择网络投票方式,拟参加现场会议的股东应提前关注并遵守会议所在地疫情防控规定和要求。
除上述股东大会现场会议地点及报名登记地点变更外,公司本次股东大会的召开时间、召开方式、股权登记日、审议提案等其他事项均不变,变更后的股东大会有关通知事项如下:
一、召开会议的基本情况
1、股东大会届次:2021年第二次临时股东大会2、股东大会的召集人:公司董事会3、会议召开的合法、合规性:本次股东大会的召开符合有关法律、行政法规、部门规章、规范性文件和公司章程的规定。
4、会议召开的日期和时间:
⑴现场会议时间:2021年8月2日14:30。
⑵网络投票时间:2021年8月2日,其中通过深圳证券交易所交易系统投票的具体时间为:2021年8月2日上午9:15-9:25 9:30-11:30下午13:00-15:00;通过深圳证券交易所互联网投票系统投票的具体时间
为:2021年8月2日上午9:15至下午15:00期间的任意时间。
5、会议的召开方式:本次股东大会采用现场表决与网络投票相结合的方式召开。
6、会议的股权登记日:2021年7月28日7、出席对象:
⑴于股权登记日下午收市时在中国结算深圳分公司登记在册的公司
全体股东均有权出席股东大会,并可以以书面形式委托代理人出席会议和参加表决,该股东代理人不必是本公司股东。
⑵公司董事、监事和高级管理人员。
⑶公司聘请的律师。
⑷根据相关法规规定应当出席股东大会的其他人员。
8、现场会议的地点:江苏省宿迁市洋河新区酒都大道118号,公司总部办公楼1009会议室。
二、会议审议事项
提案100 总议案提案 1.00《关于及其摘要的议案》提案 2.00《关于的议案》提案3.00《关于提请股东大会授权董事会办理公司第一期核心骨干持股计划有关事项的议案》上述提案已经公司第七届董事会第三次会议和第七届监事会第三次
会议审议通过,详见2021年7月16日公司在《证券时报》、《中国证券报》、《上海证券报》、《证券日报》和“巨潮资讯网”披露的相关公告。
根据《上市公司股东大会规则》要求,上述提案一、提案二、提案
三属于涉及影响中小投资者利益的重大事项,公司将对中小投资者的表决单独计票,并及时公开披露。公司关联股东将对上述提案一、提案二、提案三回避表决。
三、提案编码本次股东大会提案编码表备注
提案编码 提案名称 该列打勾的栏目可以投票
100 总议案:所有提案 √非累积投票提案
关于及其摘要的议案
关于的议案关于提请股东大会授权董事会办理公司第一期
3.00 √核心骨干持股计划有关事项的议案
四、现场会议登记方法
1、登记方式:现场登记、通过信函或传真方式登记,公司不接受电话方式登记,采用信函或传真方式登记的,登记时间以收到传真或信函时间为准。
2、登记时间:2021年7月29日9:00至12:0014:00至17:00。
3、登记地点:江苏省宿迁市洋河新区酒都大道118号,公司总部办公楼1102室(洋河股份证券部)。
4、登记资料:自然人股东亲自出席会议的,应出示本人身份证、持股凭证;自然人股东委托代理人出席会议的,应出示被委托人身份证、委托人身份证复印件、授权委托书、持股凭证。
法人股东由法定代表人出席会议的,应出示本人身份证、加盖公章的营业执照复印件、持股凭证;法定代表人委托代理人出席会议的,应出示被委托人身份证、加盖公章的营业执照复印件、授权委托书、持股凭证。
5、现场会议入场时间为2021年8月2日13:30至14:20,经登记拟出席本次现场会议的股东及股东代理人,应持上述登记资料进行现场核对后方可入场,14:20以后将不再办理出席现场会议的股东身份核对。未经现场身份核对,不得进入股东大会会场。
五、参与网络投票的具体操作流程
本次股东大会向股东提供网络形式的投票平台,股东可以通过深圳证券交易所交易系统或互联网投票系统(http://wltp.cninfo.com.cn)参加网络投票,网络投票的具体操作流程详见附件 1。
六、其他事项
1、会议联系方式联系人:张庆芹电话、传真:025-524892182、与会股东食宿及交通费自理3、附件1:参加网络投票的具体操作流程附件2:授权委托书样本
七、备查文件
1、第七届董事会第三次会议决议
2、第七届监事会第三次会议决议特此公告。
江苏洋河酒厂股份有限公司董事会2021年7月27日
附件1:
参加网络投票的具体操作流程
一、网络投票的程序
1、投票代码:362304 投票简称:洋河投票2、填报表决意见:同意、反对、弃权。
3、股东对总议案进行投票,视为对具体提案表达相同意见,不需要再对具体提案分别投票。
股东对总议案与具体提案重复投票时,以第一次有效投票为准。如股东先对具体提案投票表决,再对总议案投票表决,则以已投票表决的具体提案的表决意见为准,其他未表决的提案以总议案的表决意见为准;
如先对总议案投票表决,再对具体提案投票表决,则以总议案的表决意见为准。
二、通过深交所交易系统投票的程序
1、投票时间:2021年 8月 2日的交易时间,即 9:15-9:25,9:30-11:30和 13:00-15:00。
2、股东可以登录证券公司交易客户端通过交易系统投票。
三、通过深交所互联网投票系统投票的程序
1、互联网投票系统开始投票的时间为 2021 年 8 月 2 日上午 9:15,结束时间为 2021 年 8 月 2 日下午 15:00。
2、股东通过互联网投票系统进行网络投票,需按照《深圳证券交易所投资者网络服务身份认证业务指引(2016 年修订)》的规定办理身份认证,取得“深交所数字证书”或“深交所投资者服务密码”。具体的身份认证流程可登录互联网投票系统 http://wltp.cninfo.com.cn 规则指引栏目查阅。
3 、 股 东 根 据 获 取 的 服 务 密 码 或 数 字 证 书 , 可 登 录http://wltp.cninfo.com.cn 在规定时间内通过深交所互联网投票系统进行投票。
附件 2:
授 权 委 托 书
致:江苏洋河酒厂股份有限公司兹委托______ _先生(女士)代表本人/本单位出席江苏洋河酒厂股份有限公司2021
年第二次临时股东大会,对以下提案以投票方式代为行使表决权。本人/本单位对本次会议
表决事项未作具体指示的,受托人可代为行使表决权,其行使表决权的后果均为本人/本单位承担。
备注 表决意见
提案 该列打提案名称
编码 勾的栏 同意 反对 弃权目可以投票
100 总议案 :所有提案 √非累积投票提案
关于及其摘 √要的议案
关于的议案关于提请股东大会授权董事会办理公
3.00 司第一期核心骨干持股计划有关事项 √的议案
委托人签字或盖章: 受托人签字:
委托人身份证件及号码: 受托人身份证号码:
委托人持股数:
委托人股东账号:
委托日期: 年 月 日,委托期限:自签署日至本次股东大会结束(注:授权委托书剪报、复印或按以上格式自制均有效;单位委托必须加盖单位公章。)

洋河股份:第七届董事会第四次会议决议公告
深圳证券交易所 2021-07-24 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021- 030江苏洋河酒厂股份有限公司
第七届董事会第四次会议决议公告
本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
一、董事会会议召开情况
江苏洋河酒厂股份有限公司(以下简称“公司”)第七届董事会第
四次会议(紧急会议),于2021年7月23日在江苏省宿迁市洋河新区酒都大道18号,公司总部办公楼19楼会议室,以现场会议和通讯表决相结合的方式召开。会议通知于2021年7月23日以电话和送达相结合方式发出。
本次会议应到董事11名,实际出席董事11名,其中以通讯表决方式出席会议的董事9名,董事李民富先生、王凯先生、刘化霜先生、丛学年先生、周新虎先生,独立董事赵曙明先生、聂尧先生、路国平先生、毛凌霄先生分别以通讯表决方式出席会议。会议由董事长张联东先生召集和主持,本次会议的召集、召开符合《公司法》等有关法律法规和《公司章程》的规定。
二、董事会会议审议情况
本次会议以记名投票的方式,审议通过了如下决议:
会议以11票同意,0票反对,0票弃权,审议通过了《关于对外捐赠支持河南省防汛救灾的议案》。
近日,河南多地遭遇极端强降雨,造成非常严重的损失。为积极履行上市公司的社会责任,公司向河南省慈善总会捐赠人民币 1000万元,支持河南省防汛救灾。
三、备查文件
第七届董事会第四次会议决议特此公告。
江苏洋河酒厂股份有限公司董事会
2021 年 7 月 24 日

洋河股份:职工代表大会决议公告
深圳证券交易所 2021-07-22 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021- 029江苏洋河酒厂股份有限公司
职工代表大会决议公告
本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
江苏洋河酒厂股份有限公司(以下简称“公司”)于 2021 年 7 月
21 日在公司西辅楼多功能厅召开职工代表大会。本次会议由公司工会主席陈太清先生主持。本次会议的召集、召开和表决程序符合《中华人民共和国公司法》、《中华人民共和国工会法》等法律法规及《公司章程》的规定。经全体与会职工代表民主讨论,作出如下决议:
本次会议审议通过了《关于的议案》。
1、《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)》,符合《中华人民共和国公司法》、《中华人民共和国证券法》、《关于上市公司实施员工持股计划试点的指导意见》等有关法律、行政法规、规章、规范性文件和《公司章程》的规定。
2、本期核心骨干持股计划遵循依法合规、自愿参与、风险自担、资金自筹的基本原则,不存在损害公司及全体股东利益的情形,亦不存在以摊派、强行分配等方式强制参与持股计划的情形。
3、公司实施本期核心骨干持股计划,有利于充分调动经营层以及对公司持续发展有直接影响的核心骨干的主动性和创造性,吸引和保留优秀的人才,多维度打造人力资源优势,为公司持续健康发展注入新的动力,提升公司管理团队的凝聚力和公司竞争力,确保公司未来发展战略和经营目标的实现。
本次职工代表大会同意《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)》的相关内容。
特此公告。
江苏洋河酒厂股份有限公司董事会2021年7月22日

洋河股份:监事会关于公司第一期核心骨干持股计划相关事项的审核意见
深圳证券交易所 2021-07-16 08:00 | 下载

江苏洋河酒厂股份有限公司监事会
关于公司第一期核心骨干持股计划相关事项的审核意见
江苏洋河酒厂股份有限公司于 2021年 7月 15日召开第七届监事
会第三次会议,审议通过了公司第一期核心骨干持股计划相关事项。
根据《关于上市公司实施员工持股计划试点的指导意见》、《深圳证券交易所上市公司信息披露指引第 4号—员工持股计划》等相关法律
法规及规范性文件的规定,经认真审阅相关资料及全体监事充分讨论与分析,现就公司本期核心骨干持股计划相关事项发表审核意见如下:
经审核,监事会认为:《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)》及其摘要,符合《关于上市公司实施员工持股计划试点的指导意见》(以下简称“《指导意见》”)、《公司章程》等相关法律、法规的规定,不存在法律、法规、规范性文件规定的禁止实施的情形。
监事会对第一期核心骨干持股计划(以下简称“持股计划”)参与对象情况进行了核实,公司持股计划拟定的参与对象均符合《指导意见》及其他法律、法规、规范性文件规定的条件,符合持股计划规定的标准,持股计划参与对象的主体资格合法、有效。参与对象自愿参与,不存在摊派、强行分配等方式强制参与持股计划的情形。
公司审议持股计划相关议案的程序和决策合法、有效,有利于公司的持续健康发展,不存在损害公司及全体股东利益的情形。监事会同意公司实施本持股计划。
江苏洋河酒厂股份有限公司监事会
2021 年 7月 15 日

洋河股份:第一期核心骨干持股计划(草案)
深圳证券交易所 2021-07-16 08:00 | 下载

证券简称:洋河股份 证券代码:002304江苏洋河酒厂股份有限公司
第一期核心骨干持股计划(草案)
二〇二一年七月声明
本公司及董事会全体成员保证第一期核心骨干持股计划内容真实、准确和完整,没有虚假记载、误导性陈述或重大遗漏。
风险提示
一、江苏洋河酒厂股份有限公司(以下简称“洋河股份”或“公司”)第一期
核心骨干持股计划(以下简称“本持股计划”)须经公司股东大会批准后方可实施,本持股计划能否获得公司股东大会批准,存在不确定性;
二、本持股计划设立后将由公司自行管理,但能否达到计划规模、目标存在不确定性;
三、有关本持股计划的具体的资金来源、出资比例、实施方案等属初步结果,存在不确定性;
四、若参与对象认购资金较低时,本持股计划存在不成立的风险;
五、股票价格受公司经营业绩、宏观经济周期、国际/国内政治经济形势及投
资者心理等多种复杂因素影响。因此,股票交易是有一定风险的投资活动,投资者对此应有充分准备;
六、敬请广大投资者谨慎决策,注意投资风险。
特别提示
本部分内容中的词语简称与“释义”部分保持一致。
一、江苏洋河酒厂股份有限公司第一期核心骨干持股计划系依据《中华人民共和国公司法》、《中华人民共和国证券法》、《关于上市公司实施员工持股计划试点的指导意见》及《深圳证券交易所上市公司信息披露指引第 4 号——员工持股计划》等有关法律、行政法规、规章、规范性文件和《公司章程》的规定制定。
二、本持股计划遵循依法合规、自愿参与、风险自担的原则,不存在摊派、强行分配等强制核心骨干参加本持股计划的情形。
三、本持股计划的参与对象为公司董事(不含独立董事)、监事、高级管理人员,以及公司及全资子公司经董事会认定对公司整体业绩和中长期发展具有重要作用的中层及以上人员和核心骨干。参与本持股计划人员总数共计不超过5100 人,具体参加人数、名单将由公司遴选并根据实际缴款情况确定。
四、本持股计划的资金来源为参与对象合法薪酬、自筹资金以及法律法规允许的其他方式。公司不得向参与对象提供垫资、担保、借贷等财务资助。参与对象不得接受与公司有生产经营业务往来的其他企业的借款或融资帮助,本持股计划不涉及杠杆资金。
本持股计划持股规模不超过 9661310 股,约占本持股计划草案公告日公司股本总额 1506988000 股的 0.64%;本持股计划以“份”作为认购单位,每份份额为 1.00 元,合计认购份额不超过 1002167686.30 份,拟筹集资金总额上限为1002167686.30 元,具体份额根据实际出资缴款金额确定,公司将根据相关法律法规要求及时履行信息披露义务。
五、本持股计划股票来源为公司回购专用账户回购的洋河股份 A 股普通股股票。
公司于2019年10月29日召开的第六届董事会第九次会议审议通过了《关于回购部分社会公众股份的方案》,并于2019年11月05日披露了《回购报告书》(公告编号:2019-028)。公司拟使用自有资金以集中竞价交易方式回购公司股份,回购总额不低于人民币10亿元(含)且不超过人民币15亿元(含)。
2020年10月31日公司披露了《关于回购公司股份实施结果暨股份变动的公告》(公告编号:2020-037),截至2020年10月29日,公司通过回购专用证券账户以集中竞价交易方式累计回购公司股份9661310股,占公司总股本的0.64%,最高成交价为131.99元/股,最低成交价为80.37元/股,成交金额为1002128680.79元(含交易费用)。本次股份回购期限已届满,股份回购已实施完毕。
六、本持股计划所持有的公司股票总数累计不超过公司股本总额的 10%,单
个持有人所持持股计划份额所对应的股票总数累计不超过公司股本总额的 1%。
持股计划持有的股票总数不包括持有人在公司首次公开发行股票上市前获得的
股份、通过二级市场自行购买的股份以及通过股权激励获得的股份。最终标的股票的购买情况目前尚存在不确定性。
七、本持股计划购买回购股份的价格为公司回购股份均价,为 103.73 元/股。
八、本持股计划由公司自行管理,公司成立持股计划管理委员会,作为持股
计划的管理方,代表持股计划行使股东权利,公司采取了适当的风险防范和隔离措施切实维护持股计划持有人的合法权益。在持股计划存续期间,管理委员会可聘请相关专业机构为持股计划日常管理提供管理、咨询等服务。
九、本持股计划的存续期为 36 个月,所获标的股票的锁定期为 24 个月,自本持股计划草案经公司股东大会审议通过且公司公告最后一笔标的股票过户至
本持股计划名下之日起计算。本持股计划在存续期届满后自行终止,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期可以延长。
锁定期届满后,本持股计划所持股票权益将依据公司业绩目标考核结果进行处置。
十、持股计划业绩考核要求:2021 年营业收入较 2020 年增长不低于 15%且
2022 年营业收入较 2021 年增长不低于 15%(以会计师审计结果为准)。
若业绩考核指标未达成,本持股计划持有的全部标的股票权益由管理委员会收回,在锁定期届满后择机出售,并以出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益归公司享有。
十一、公司实施持股计划的财务、会计处理等问题按有关规定执行。
十二、本持股计划持有人将放弃因参与本持股计划而间接持有公司股票的表决权。本持股计划与公司控股股东、实际控制人、董事、监事、高级管理人员之间不存在关联关系或一致行动关系。
十三、公司董事会对本持股计划进行审议且无异议后,将召开股东大会审议本持股计划。本持股计划必须经公司股东大会批准后方可实施。
十四、本持股计划实施后,将不会导致公司股权分布不符合上市条件要求。
十五、公司实施本持股计划符合相关国有资产监督管理机构关于混合所有制企业员工持股的有关要求。
目录
特别提示................................................. 4
释义................................................... 8
一、持股计划的目的............................................ 9
二、持股计划的基本原则.......................................... 9
三、持股计划持有人的确定依据和范围.................................... 9
四、持股计划的资金来源、股票来源、规模和购买价格............................ 11
五、持股计划的存续期、锁定期...................................... 12
六、存续期内公司融资时持股计划的参与方式................................ 14
七、公司与持有人的权利和义务...................................... 14
八、持股计划的管理机构及管理模式.................................... 15
九、持股计划的资产构成及权益分配.................................... 19
十、持股计划的变更、终止及持有人权益的处置............................... 20
十一、持股计划存续期满后股份的处置办法................................. 22
十二、持股计划的会计处理........................................ 22
十三、持股计划履行的程序........................................ 23
十四、关联关系和一致行动关系说明.................................... 23
十五、其他重要事项........................................... 24释义
除非另有说明,以下简称在本文中作如下释义:
洋河股份/公司/本公司 指江苏洋河酒厂股份有限公司
本持股计划/持股计划/
指《江苏洋河酒厂股份有限公司第一期核心骨干持股计划》本计划指《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草本持股计划草案案)》指《江苏洋河酒厂股份有限公司第一期核心骨干持股计划管持股计划管理办法理办法》
指参与本持股计划的公司董事(不含独立董事)、监事、高级管理人员,以及公司及全资子公司经董事会认定对公司整持有人/参与对象体业绩和中长期发展具有重要作用的中层及以上人员和核心骨干。
持有人会议 指本持股计划持有人会议
管理委员会 指本持股计划管理委员会
洋河股份股票、公司股指洋河股份A股普通股股票票自本持股计划草案经公司股东大会审议通过且公司公告最后
一笔标的股票过户至本持股计划名下之日起,至本持股计划存续期 所持有的公司股票全部出售或过户至本持股计划份额持有人,且本持股计划资产依照本持股计划规定清算、分配完毕止。
自本持股计划草案经公司股东大会审议通过且公司公告最后锁定期一笔标的股票过户至本持股计划名下之日起计算
指本持股计划通过合法方式购买和持有的洋河股份A股普通标的股票股股票
中国证监会 指中国证券监督管理委员会
元、万元、亿元 指人民币元、人民币万元、人民币亿元《公司章程》 指《江苏洋河酒厂股份有限公司章程》
《公司法》 指《中华人民共和国公司法》
《证券法》 指《中华人民共和国证券法》
《指导意见》 指《关于上市公司实施员工持股计划试点的指导意见》
本文中若出现总数与各分项值之和尾数不符的情况,均为四舍五入原因造成。
一、持股计划的目的
公司依据《公司法》、《证券法》、《指导意见》等有关法律、行政法规、规章、规范性文件和《公司章程》的规定,制定了本持股计划草案。
参与对象自愿、合法、合规地参与本持股计划,持有公司股票的目的在于:
(一)进一步完善公司治理结构,建立健全公司长期有效的激励约束机制,完善公司薪酬考核体系,实现股东、公司和核心骨干的利益结合,促进各方共同关注公司的长远发展。
(二)建立股东与经营层及核心骨干之间的利益共享、风险共担机制,提升
公司管理团队的凝聚力和公司竞争力,确保公司未来发展战略和经营目标的实现。
(三)充分调动经营层以及对公司持续发展有直接影响的核心骨干的主动性和创造性,吸引和保留优秀的人才,多维度打造人力资源优势,为公司持续健康发展注入新的动力。
二、持股计划的基本原则
(一)依法合规原则
公司实施持股计划,严格按照法律、行政法规的规定履行程序,真实、准确、完整、及时地实施信息披露。任何人不得利用持股计划进行内幕交易、操纵证券市场等证券欺诈行为。
(二)自愿参与原则
公司实施持股计划遵循公司自主决定,核心骨干自愿参加,公司不以摊派、强行分配等方式强制核心骨干参加持股计划。
(三)风险自担原则
持股计划持有人盈亏自负,风险自担,与其他投资者权益平等。
三、持股计划持有人的确定依据和范围
(一)持股计划持有人的确定依据
本持股计划的持有人系依据《公司法》、《证券法》、《指导意见》等有关法律、法规、规章及《公司章程》的相关规定而确定,公司核心骨干按照依法合规、自愿参与、风险自担的原则参加本持股计划。
(二)持股计划持有人的范围
参加本持股计划的人员范围包括公司董事(不含独立董事)、监事、高级管理人员,以及公司及全资子公司经董事会认定对公司整体业绩和中长期发展具有重要作用的中层及以上人员和核心骨干。
(三)持股计划的持有人名单及份额分配情况
本持股计划设立时资金总额不超过 1002167686.30 元,以“份”作为认购单位,每份份额为 1.00 元,本持股计划的份数上限为 1002167686.30 份。本持股计划持有人具体持有份额以其最后确认缴纳的金额为准。
本持股计划的总人数共计不超过 5100 人,具体参加人数、名单将由公司遴选并根据实际缴款情况确定。持有人对应的权益份额的上限及比例如下表:
拟持有份额上限 拟持有份额占持
持有人 职务
(份) 股计划比例
张联东 董事长 10000000 1.00%
钟 雨 副董事长、总裁 10000000 1.00%刘化霜 董事、执行总裁 10000000 1.00%周新虎 董事、副总裁、总工程师 5000000 0.50%陈太清 监事会主席 5000000 0.50%
陈福亚 监事 5000000 0.50%
陈太松 监事 5000000 0.50%
林 青 副总裁 5000000 0.50%
郑步军 副总裁 5000000 0.50%
傅宏兵 副总裁 5000000 0.50%
尹秋明 副总裁、财务负责人 5000000 0.50%李玉领 副总裁 5000000 0.50%
张学谦 总裁助理 3000000 0.30%
宋志敏 总裁助理 3000000 0.30%
陆红珍 董事会秘书 2000000 0.20%其他核心骨干
919167686.30 91.72%(不超过 5085 人)
合计 1002167686.30 100.00%
注:参与对象最终认购持股计划的份额以其实际出资金额为准。
在规定时间内参与对象未足额缴纳认购资金的,则视为自动放弃认购权利,本持股计划管理委员会可根据参与对象实际缴款情况对参加对象名单及其认购份额进行调整。公司全部有效的持股计划所持有的股票总数累计不超过公司股本总额的10%,单个参与对象所获股份权益对应的股票总数累计不超过公司股本总额的1%。
四、持股计划的资金来源、股票来源、规模和购买价格
(一)资金来源
公司核心骨干参与本持股计划的资金来源为其合法薪酬、自筹资金和法律法规允许的其他方式。
本持股计划拟筹集资金总额上限为1002167686.30元,以“份”作为认购单位,每份份额为1.00元。任一持有人所持有本持股计划份额所对应的公司股票数量不超过公司股本总额的1%。持股计划持有人具体持有份额数以其最终确认缴纳的份数为准。
本持股计划持有人按照认购份额按期足额缴纳认购资金,持股计划的缴款时间由公司统一通知安排。持有人认购资金未按期、足额缴纳的,则自动丧失相应的认购权利。
(二)股票来源
本持股计划股票来源为公司回购专用账户回购的洋河股份 A 股普通股股票。
公司于2019年10月29日召开的第六届董事会第九次会议审议通过了《关于回购部分社会公众股份的方案》,并于2019年11月05日披露了《回购报告书》(公告编号:2019-028)。公司拟使用自有资金以集中竞价交易方式回购公司股份,回购总额不低于人民币10亿元(含)且不超过人民币15亿元(含)。
2020年10月31日公司披露了《关于回购公司股份实施结果暨股份变动的公告》(公告编号:2020-037),截至2020年10月29日,公司通过回购专用证券账户以集中竞价交易方式累计回购公司股份9661310股,占公司总股本的0.64%,最高成交价为131.99元/股,最低成交价为80.37元/股,成交金额为1002128680.79元(含交易费用)。本次股份回购期限已届满,股份回购已实施完毕。
(三)规模
本持股计划持股规模不超过9661310股,约占本持股计划草案公告日公司股本总额1506988000股的0.64%。
本持股计划草案获得股东大会批准后,将通过非交易过户等法律法规允许的方式获得公司回购专用证券账户所持有的公司股票。
本持股计划具体持股数量以参与对象实际出资缴款情况确定。实施后,全部有效的持股计划所持有的股票总数累计不超过公司股本总额的10%,任一持有人持有的持股计划份额所对应的标的股票数量不超过公司股本总额的1%。
本持股计划持有的股票总数不包括持有人在公司首次公开发行股票上市前获
得的股份、通过二级市场自行购买的股份以及通过股权激励获得的股份。
(四)股票购买价格及合理性说明
1、本持股计划购买回购股份的价格为公司回购股份均价,为 103.73 元/股。
2、为了建立和完善劳动者与所有者的利益共享机制,实现公司、股东和核心骨干利益的结合,进一步建立健全公司长效激励机制,从而充分有效调动公司核心骨干的主动性、积极性和创造性,吸引和保留优秀管理人才和业务骨干,提高公司核心竞争能力,提高核心骨干的凝聚力,推动公司稳定、健康、长远发展。
在依法合规的基础上,以低于市价的购股价格实现对核心骨干的激励,可以充分调动核心骨干的积极性,真正提升核心骨干的工作热情和责任感,有效地统一核心骨干和公司及公司股东的利益。
在参考公司经营情况和行业发展情况的基础上,同时兼顾本持股计划需以合理的成本实现对参与人员合理的激励作用的目的。本持股计划购买回购股份的价格为公司回购股份均价,为 103.73 元/股。从激励性的角度来看,该定价具有合理性与科学性,且未损害公司及全体股东利益。
五、持股计划的存续期、锁定期
(一)持股计划的存续期
1、本持股计划的存续期为 36 个月,自本持股计划草案经公司股东大会审议通过且公司公告最后一笔标的股票过户至本持股计划名下之日起计算,本持股计划在存续期届满时如未展期则自行终止。
2、本持股计划的锁定期届满后,当持股计划所持有的股票全部转出且持股计划项下货币资产(如有)已全部清算、分配完毕后,本持股计划可提前终止。
3、本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售或过户至持股计划份额持有人,管理委员会委员超过半数以上同意并提交公司董事会审议通过后,本持股计划的存续期可以延长。
4、如因公司股票停牌或者敏感期较长等情况,导致本持股计划所持有的公司股票无法在存续期届满前全部变现的,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期限可以延长。
(二)持股计划的锁定期
1、本持股计划所获标的股票的锁定期为 24 个月,自公司公告最后一笔标的股票过户至当期持股计划名下之日起计算。标的股票权益待锁定期届满后,在满足相关考核条件的前提下由管理委员会根据本持股计划相关规定进行处置。
本持股计划所取得标的股票,因上市公司分配股票股利、资本公积转增等情形所衍生取得的股份 亦应遵守上述股份锁定安排。
2、本持股计划相关主体必须严格遵守市场交易规则,遵守信息敏感期不得买卖股票的规定,各方均不得利用持股计划进行内幕交易、市场操纵等证券欺诈行为。
上述敏感期是指:
(1)公司定期报告公告前 30 日内,因特殊原因推迟公告日期的,自原公告
日前 30 日起至最终公告日;
(2)公司业绩预告、业绩快报公告前 10 日内;
(3)自可能对公司股票交易价格产生重大影响的重大事项发生之日或在决策过程中,至依法披露后 2 个交易日内;
(4)证券交易所规定的其他期间。
(三)持股计划的业绩考核
持有人的标的股票权益将自本持股计划草案经公司股东大会审议通过,且公司公告最后一笔标的股票过户至本持股计划名下之日起的 24 个月后,依据业绩考核结果分配至持有人。公司业绩考核要求如下:2021 年营业收入较 2020 年增长不低于 15%且 2022 年营业收入较 2021 年增长不低于 15%(以会计师审计结果为准)。
若本持股计划项下的公司业绩考核指标未达成,本持股计划持有的全部标的股票权益由管理委员会收回,在锁定期届满后择机出售,并以出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益归公司享有。
六、存续期内公司融资时持股计划的参与方式
本持股计划存续期内,公司以配股、增发、可转债等方式融资时,由管理委员会确定是否参与以及资金解决方案,并提交持有人会议审议。
七、公司与持有人的权利和义务
(一)公司的权利和义务
1、公司的权利
(1)按照本持股计划草案“十、持股计划的变更、终止及持有人权益的处置”相关规定对持有人权益进行处置;
(2)若本持股计划项下的公司业绩考核指标未达成,本持股计划持有的全
部标的股票权益由管理委员会收回,在锁定期届满后择机出售,并以出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益归公司享有。
(3)法律、行政法规及本持股计划规定的其他权利。
2、公司的义务
(1)真实、准确、完整、及时地履行关于本持股计划的信息披露义务;
(2)根据相关法规配合本持股计划管理委员会为本持股计划开立及注销证券交易账户等;
(3)法律、行政法规及本持股计划规定的其他义务。
(二)持有人的权利和义务
1、持有人的权利
(1)依照其持有的本持股计划份额享有本持股计划资产的权益;
(2)参加或委派其代理人参加持有人会议,并行使相应的表决权;
(3)对本持股计划的管理进行监督,提出建议或质询;
(4)法律、行政法规、部门规章或本持股计划规定的其他权利。
2、持有人的义务
(1)遵守法律、行政法规、部门规章和本持股计划的相关规定;
(2)依照其所认购的本持股计划份额和方式缴纳认购资金;
(3)依照其所持有的本持股计划份额承担本持股计划的投资风险;
(4)遵守持股计划管理办法;
(5)本持股计划存续期内,持有人所持本计划份额不得自行转让、退出、用于担保、偿还债务或作其他类似处置;
(6)在本持股计划存续期间内,不得私自要求分配本计划资产;
(7)法律、行政法规及本持股计划规定的其他义务。
八、持股计划的管理机构及管理模式
本持股计划设立后将自行管理,内部最高管理权力机构为持有人会议。持有人会议由本持股计划全体持有人组成,持有人会议选举产生管理委员会,并授权管理委员会作为管理方,负责开立持股计划相关账户、负责本持股计划的日常管理事宜(包括但不限于在锁定期届满后减持本持股计划所持有的公司股票、代表本持股计划向持有人分配收益和现金资产等)、代表持股计划持有人行使股东权利等。公司董事会负责拟定和修改本持股计划,并在股东大会授权范围内办理本持股计划的其他相关事宜。
(一)持有人会议
1、持有人会议是持股计划的内部最高管理权力机构。所有持有人均有权利参加持有人会议。持有人可以亲自出席持有人会议并表决,也可以委托代理人代为出席并表决。持有人及其代理人出席持有人会议的差旅费用、食宿费用等,均由持有人自行承担。
2、以下事项需要召开持有人会议进行审议:
(1)选举、罢免管理委员会委员;
(2)持股计划存续期内,公司以配股、增发、可转债等方式融资时,由管
理委员会商议参与融资的具体方案,并提交持有人会议审议;
(3)修订持股计划管理办法;
(4)授权管理委员会监督或负责持股计划的日常管理;
(5)授权管理委员会行使股东权利;
(6)其他管理委员会认为需要召开持有人会议审议的事项。
3、首次持有人会议由公司董事会秘书或指定人员负责召集和主持,其后持有人会议由管理委员会负责召集,由管理委员会主任主持。管理委员会主任不能履行职务时,由其指派一名管理委员会委员负责主持。
4、召开持有人会议,管理委员会应提前 5 日将书面会议通知,通过直接送达、邮寄、传真、电子邮件、协同办公系统或者其他方式,提交给全体持有人。
书面会议通知应当至少包括以下内容:
(1)会议的时间、地点;
(2)会议的召开方式;
(3)拟审议的事项(会议提案);
(4)会议召集人和主持人、临时会议的提议人及其书面提议;
(5)会议表决所必需的会议材料;
(6)持有人应当亲自出席或者委托其他持有人代为出席会议;
(7)联系人和联系方式;
(8)发出通知的日期。
如遇紧急情况,可以通过口头方式通知持有人随时召开持有人会议。口头方式通知至少应包括上述第(1)、(2)项内容以及因情况紧急需要尽快召开持有人会议的说明。
持有人会议可以通过电话会议、视频会议或类似的通讯工具召开,只要参加会议的所有持有人能够听到并彼此交流,所有通过该等方式参加会议的持有人应视为亲自出席会议。
5、持有人会议的表决程序
(1)每项提案经过充分讨论后,主持人应当适时提请与会持有人进行表决。
主持人也可决定在会议全部提案讨论完毕后一并提请与会持有人进行表决,表决方式为书面表决。
(2)本持股计划的持有人按其持有的份额享有表决权。
(3)持有人的表决意向分为同意、反对和弃权。与会持有人应当从上述意
向中选择其一,未做选择或者同时选择两个以上意向的,视为弃权;中途离开会场不回而未做选择的,视为弃权;未填、错填、字迹无法辨认的表决票或未投的表决票均视为弃权。持有人在会议主持人宣布表决结果后或者规定的表决时限结束后进行表决的,其表决情况不予统计。
(4)会议主持人应当当场宣布现场表决统计结果。每项议案如经出席持有人会议的持有人所持 1/2以上份额同意后则视为表决通过(本持股计划规定需 2/3以上份额同意的除外),形成持有人会议的有效决议。
(5)持有人会议决议需报公司董事会、股东大会审议的,须按照《公司章程》的规定提交公司董事会、股东大会审议。
(6)会议主持人负责安排人员对持有人会议做好记录。
6、单独或合计持有持股计划 30%以上份额的持有人可以向持有人会议提交临时提案,临时提案须在持有人会议召开前 3 日向管理委员会提交。
7、单独或合计持有持股计划 30%以上份额的持有人可以提议召开持有人会议。
(二)管理委员会
1、本持股计划设管理委员会,监督或负责本持股计划的日常管理,对持股计划负责。
2、管理委员会由 5 名委员组成,设管理委员会主任 1 人。管理委员会委员均由持有人会议选举产生。管理委员会主任由管理委员会以全体委员的过半数选举产生。管理委员会委员的任期为持股计划的存续期。
3、管理委员会委员应当遵守法律、行政法规和持股计划管理办法的规定,对持股计划负有下列忠实义务:
(1)不得利用职权收受贿赂或者其他非法收入,不得侵占持股计划的财产;
(2)不得挪用持股计划资金;
(3)未经持有人会议同意,不得将持股计划资产或者资金以其个人名义或者其他个人名义开立账户存储;
(4)未经持有人会议同意,不得将持股计划资金借贷给他人或者以持股计划财产为他人提供担保;
(5)不得利用其职权损害持股计划利益;
(6)不得擅自披露与持股计划相关的商业秘密。
管理委员会委员违反忠实义务给持股计划造成损失的,应当承担赔偿责任。
4、管理委员会行使以下职责:
(1)负责召集持有人会议;
(2)代表全体持有人监督或负责持股计划的日常管理;
(3)代表全体持有人行使持股计划所持有股份的股东权利或者授权资产管理机构行使股东权利;
(4)审议持股计划的变更、终止、存续期的延长;
(5)决策是否聘请相关专业机构为持股计划日常管理提供管理、咨询等服务;
(6)代表持股计划对外签署相关协议、合同;
(7)按照本持股计划“十、持股计划的变更、终止及持有人权益的处置”相关规定对持有人权益进行处置;
(8)决策持股计划弃购份额、被强制收回份额或权益的归属;
(9)管理持股计划利益分配,在持股计划锁定期届满后,决定标的股票出售及分配等相关事宜;
(10)办理持股计划份额登记、继承登记;
(11)负责持股计划的减持安排;
(12)持有人会议授权的其他职责。
5、管理委员会主任行使下列职权:
(1)主持持有人会议和召集、主持管理委员会会议;
(2)经管理委员会授权,代表全体持有人行使股东权利;
(3)督促、检查持有人会议、管理委员会决议的执行;
(4)代表持股计划对外签署相关协议、合同;
(5)管理委员会授予的其他职权。
6、管理委员会不定期召开会议,由管理委员会主任召集,于会议召开 3 日前通知全体管理委员会委员,全体管理委员会委员对表决事项一致同意的可以以通讯方式召开和表决。
经管理委员会各委员同意,可豁免上述通知时限。情况紧急,需要尽快召开管理委员会紧急会议的,可以随时通过电话或者其他口头方式发出会议通知,但召集人应当在会议上作出说明。
7、管理委员会会议应有过半数的管理委员会委员出席方可举行。管理委员会作出决议,必须经全体管理委员会委员的过半数通过。管理委员会决议的表决,实行一人一票。
8、管理委员会决议表决方式为记名投票表决。管理委员会会议在保障管理委员会委员充分表达意见的前提下,可以用传真等方式进行投票并作出决议,由参会管理委员会委员签字确认。
9、管理委员会会议,应由管理委员会委员本人出席;管理委员会委员因故不能出席的,可以书面委托其他管理委员会委员代为出席,委托书中应载明代理人的姓名、代理事项、授权范围和有效期限,并由委托人签名或盖章。代为出席会议的管理委员会委员应当在授权范围内行使管理委员会委员的权利。管理委员会委员未出席管理委员会会议,亦未委托代表出席的,视为放弃在该次会议上的投票权。
10、管理委员会应当对会议所议事项的决定形成会议记录,出席会议的管理委员会委员应当在会议记录上签名。
11、管理委员会会议记录包括以下内容:
(1)会议召开的日期、地点和召集人姓名;
(2)出席管理委员会委员的姓名以及受他人委托出席管理委员会的管理委
员会委员(代理人)姓名;
(3)会议议程;
(4)管理委员会委员发言要点;
(5)每一决议事项的表决方式和结果(表决结果应载明赞成、反对或弃权的票数)。
九、持股计划的资产构成及权益分配
(一)持股计划的资产构成
1、公司股票对应的权益;
2、现金存款和银行利息;
3、持股计划其他投资所形成的资产。
本持股计划的资产独立于公司的固定资产,公司不得将本持股计划资产委托归入其固有财产。因本持股计划的管理、运用或者其他情形而取得的财产和收益归入本持股计划资产。
(二)持股计划的权益分配
1、在本持股计划存续期内,除法律、行政法规、部门规章另有规定,或经管理委员会同意,持有人所持本持股计划份额不得转让、担保或作其他类似处置。
2、在存续期之内,持有人不得私自要求对本持股计划的权益进行分配;
3、在锁定期内,公司发生资本公积转增股本、派送股票红利时,本持股计划因持有公司股份而新取得的股份一并锁定,不得在二级市场出售或以其他方式转让,该等股票的解锁期与相对应股票相同。
锁定期届满后,由管理委员会陆续变现持股计划资产,并按持有人所持份额的比例,分配给持有人;或者由管理委员会向证券登记结算机构提出申请,根据相关法律法规的要求,按持有人所持份额的比例,将标的股票过户至持有人个人账户,由个人自行处置。如受法律法规限制无法过户至个人账户的,由管理委员会统一变现该部分资产,并按持有人所持份额的比例,分配给持有人。如存在剩余未分配标的股票及其对应的分红(如有),由持股计划管理委员会在该期持股计划存续期届满前按持有人所持份额的比例进行分配。
4、当本持股计划存续期届满或拟提前终止时,由管理委员会根据持有人会议的授权在届满或终止之日起 30 个工作日内完成清算,并按持有人持有的份额进行分配。
十、持股计划的变更、终止及持有人权益的处置
(一)公司发生实际控制权变更、合并、分立
若公司实际控制权发生变更,或发生合并、分立等情形,公司董事会将在情形发生之日起 5 个交易日内决定是否终止实施本持股计划。
(二)持股计划的变更存续期内,本持股计划的变更须经管理委员会委员超过半数以上同意,并提交公司董事会审议通过。
(三)持股计划的终止
1、本持股计划在存续期届满后自行终止;
2、本持股计划的锁定期届满后,当持股计划所持有的股票全部转出且持股计划项下货币资产(如有)已全部清算、分配完毕后,本持股计划可提前终止;
3、本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售或过户至持股计划份额持有人,经管理委员会委员超过半数以上同意并提交公司董事会审议通过,本持股计划的存续期可以延长;
4、如因公司股票停牌或者敏感期较长等情况,导致本持股计划所持有的公司股票无法在存续期届满前全部变现的,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期可以延长。
(四)持有人权益的处置
1、存续期内,持有人所持有的持股计划权益不得自行退出,不得用于抵押、质押、担保、偿还债务或作其他类似处理。
2、存续期内,持有人所持有的持股计划权益未经管理委员会同意不得转让,未经同意擅自转让的,该转让行为无效。
3、发生如下情形之一的,持有人所持有的权益不发生变更:
(1)持有人发生职务变更,但仍在公司或全资子公司任职的;
(2)持有人退休的;
(3)持有人丧失劳动能力而离职的;
(4)持有人身故的,其持有的权益由其指定的继承人或法定继承人代为持有;
(5)管理委员会认定的其他情形。
4、发生如下情形之一的,管理委员会有权取消该持有人参与本持股计划的资格,并将其持有的本持股计划未分配权益强制收回,由管理委员会择机出售,按照出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益(如有)由参与本持股计划的其余持有人按出资比例共同享有;
(1)持有人合同到期不再续约或主动辞职的;
(2)未经公司同意,以出资(包括间接持股或委托持股)、担任职务、从
事工作等任何方式自营或者同他人合作经营与公司及子公司相同、相类似的竞争业务的;
(3)有弄虚作假、受贿、索贿、职务侵占、盗窃、泄露公司机密等行为被公司开除的;
(4)管理委员会认定的其他情形。
如发生其他未约定事项,持有人所持的持股计划份额的处置方式由公司与管理委员会协商确定。
十一、持股计划存续期届满后股份的处置办法
(一)若本持股计划所持有的公司股票全部出售或过户至持股计划份额持有人,且持股计划资产依照本持股计划规定清算、分配完毕的,本持股计划即可终止。
(二)本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售
或过户至持股计划份额持有人,经管理委员会委员超过半数以上同意并提交公司董事会审议通过,本持股计划的存续期可以延长。
(三)本持股计划拟提前终止或存续期届满后,由管理委员会根据持有人会
议的授权对持股计划资产进行清算,在终止或存续期届满后 30 个工作日内完成清算,并按照持有人所持份额进行分配。
(四)本持股计划存续期届满后,若持股计划所持资产仍包含标的股票的,由管理委员会确定处置办法。
十二、持股计划的会计处理
按照《企业会计准则第 11 号——股份支付》的规定:完成等待期内的服务或达到规定业绩条件才可行权的换取职工服务的以权益结算的股份支付,在等待期内的每个资产负债表日,应当以对可行权权益工具数量的最佳估计为基础,按照权益工具授予日的公允价值,将当期取得的服务计入相关成本或费用和资本公积。
本次持股计划的受让价格依据公司回购股份的成本价格进行定价,如产生股份支付费用将计入成本费用,影响公司经营业绩,对公司经营业绩的最终影响以会计师所出的审计报告为准。
十三、持股计划履行的程序
(一)公司实施本持股计划前,应通过职工代表大会等组织充分征求员工意见;
(二)董事会审议通过本持股计划草案,独立董事应当就本持股计划是否有
利于公司的持续发展,是否存在损害公司及全体股东的利益,是否存在摊派、强行分配等方式强制参与本持股计划发表意见;
(三)监事会负责对本持股计划是否有利于公司的持续发展,是否存在损害
公司及全体股东的利益,是否存在摊派、强行分配等方式强制参与本持股计划发表意见;
(四)董事会在审议通过本持股计划草案后的 2 个交易日内,公告董事会决
议、持股计划草案全文及摘要、独立董事意见等;
(五)公司聘请律师事务所对持股计划出具法律意见书,并在召开关于审议本持股计划的股东大会前公告法律意见书;
(六)召开股东大会审议本持股计划。股东大会将采用现场投票与网络投票
相结合的方式进行投票,经出席股东大会的非关联股东所持表决权的过半数通过后,本持股计划即可以实施;
(七)召开本持股计划持有人会议,选举产生管理委员会委员,明确持股计
划实施的具体事项,并及时披露会议的召开情况及相关决议;
(八)公司应在完成标的股票过户至持股计划名下的 2 个交易日内,及时披
露获得标的股票的时间、数量等情况;
(九)其他中国证监会、证券交易所规定需要履行的程序。
十四、关联关系和一致行动关系说明
本持股计划与公司控股股东、实际控制人、董事、监事、高级管理人员之间不构成《上市公司收购管理办法》规定的一致行动关系,具体如下:
(一)公司控股股东、实际控制人未参加本次持股计划,本次持股计划未与
公司控股股东、实际控制人签署一致行动协议或存在一致行动安排。
(二)公司部分董事、监事及高级管理人员持有本次持股计划份额,本次持
股计划持有人之间无关联关系,均未签署《一致行动协议》或存在一致行动的相关安排;持有人会议为本次持股计划的最高权利机构,持有人会议选举产生管理委员会,监督或负责持股计划的日常管理。本持股计划持有人放弃因参与本持股计划而间接持有公司股票的表决权,任意单一持有人均无法对持有人会议及管理委员会决策产生重大影响。
(三)在公司股东大会及董事会、监事会审议与本次持股计划相关事项时,相关股东、董事、监事均将回避表决。
十五、其他重要事项
(一)公司董事会与股东大会审议通过本持股计划不意味着持有人享有继续
在公司或其全资子公司服务的权利,不构成公司或其全资子公司对持有人聘用期限的承诺,公司或其全资子公司与持有人的劳动关系仍按公司或其全资子公司与持有人签订的劳动合同执行。
(二)公司实施本持股计划的财务、会计处理等事项,按有关规定执行。
(三)本持股计划尚需经公司股东大会审议通过后方可实施。
(四)本持股计划的解释权属于公司董事会。
江苏洋河酒厂股份有限公司董事会
2021 年 7 月 15 日

洋河股份:第七届监事会第三次会议决议公告
深圳证券交易所 2021-07-16 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021- 026江苏洋河酒厂股份有限公司
第七届监事会第三次会议决议公告
本公司及监事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
一、监事会会议召开情况
江苏洋河酒厂股份有限公司(以下简称“公司”)第七届监事会第三次会议,于2021年7月15日在南京市雨花经济开发区凤汇大道18号,公司南京营运中心431会议室,以现场会议方式召开。会议通知于2021年7月10日以电话和送达相结合方式发出。本次会议应到监事5名,实际出席监事5名(其中委托出席的监事1名,监事徐莉莉女士因工作安排冲突,委托监事许有恒先生代为出席并行使表决权)。会议由监事会主席陈太清先生召集和主持。本次会议的召集、召开符合《公司法》等有关法律法规和《公司章程》的规定。
二、监事会会议审议情况本次监事会审议了《关于〈江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)〉及其摘要的议案》和《关于〈江苏洋河酒厂股份有限公司第一期核心骨干持股计划管理办法〉的议案》。
鉴于监事会决议应当经半数以上监事通过,公司拟参与本期核心骨干持股计划的监事陈太清先生、陈福亚先生、陈太松先生,均回避了两项议案的表决,有表决权的监事人数未达到全体监事半数以上,因此监事会决定将上述议案直接提交公司股东大会审议。
经审核,监事会认为:《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)》及其摘要,符合《关于上市公司实施员工持股计划试点的指导意见》(以下简称“《指导意见》”)、《公司章程》等相关法律、法规的规定,不存在法律、法规、规范性文件规定的禁止实施的情形。
监事会对第一期核心骨干持股计划(以下简称“持股计划”)参与对
象情况进行了核实,公司持股计划拟定的参与对象均符合《指导意见》及其他法律、法规、规范性文件规定的条件,符合持股计划规定的标准,持股计划参与对象的主体资格合法、有效。参与对象自愿参与,不存在摊派、强行分配等方式强制参与持股计划的情形。
公司审议持股计划相关议案的程序和决策合法、有效,有利于公司的持续健康发展,不存在损害公司及全体股东利益的情形。监事会同意公司实施本持股计划。
《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)》及其摘要、《江苏洋河酒厂股份有限公司第一期核心骨干持股计划管理办法》,详见公司同日在“巨潮资讯网”(www.cninfo.com.cn)披露的公告。
三、备查文件
第七届监事会第三次会议决议。
特此公告。
江苏洋河酒厂股份有限公司监事会2021年7月16日

洋河股份:董事会关于第一期核心骨干持股计划(草案)符合《关于上市公司实施员工持股计划试点的指导意见》相关规定的说明
深圳证券交易所 2021-07-16 08:00 | 下载

江苏洋河酒厂股份有限公司董事会
关于第一期核心骨干持股计划(草案)符合《关于上市公司实施员工持股计划试点的指导意见》相关规定的说明
江苏洋河酒厂股份有限公司(以下简称“公司”)第一期核心骨
干持股计划(草案)(以下简称“本期持股计划”)依据《公司法》、《证券法》、《关于上市公司实施员工持股计划试点的指导意见》(以下简称“《指导意见》”)、《深圳证券交易所上市公司信息披露指引第4号——员工持股计划》等法律法规、规范性文件和《公司章程》等有关规定制订。现对本期持股计划符合《指导意见》等相关规定作出如下说明:
1、公司不存在《指导意见》等法律、法规规定的禁止实施持股计划的情形。
2、本期持股计划符合《指导意见》的基本原则。
3、公司审议本期持股计划相关议案的决策程序合法、有效,不存在损害公司及全体股东利益的情形,亦不存在以摊派、强行分配等方式强制核心骨干参与本期持股计划的情形。
4、监事会对本期持股计划参与对象情况进行了核实,本期持股计划拟定的参与对象均符合《指导意见》及其他法律、法规、规范性文件规定的条件,符合持股计划规定的标准,持股计划参与对象的主体资格合法、有效。参与对象自愿参与,不存在摊派、强行分配等方式强制参与持股计划的情形。
5、本期持股计划有利于公司的长期持续发展,不存在损害公司及全体股东利益的情形。
综上,公司董事会认为公司实施本期持股计划符合《指导意见》等相关规定。
特此说明。
江苏洋河酒厂股份有限公司董事会
2021 年 7 月 15日

洋河股份:第七届董事会第三次会议决议公告
深圳证券交易所 2021-07-16 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021- 027江苏洋河酒厂股份有限公司
第七届董事会第三次会议决议公告
本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
一、董事会会议召开情况
江苏洋河酒厂股份有限公司(以下简称“公司”)第七届董事会
第三次会议,于2021年7月15日在南京市雨花经济开发区凤汇大道18号,公司南京营运中心431会议室,以现场会议方式召开。会议通知于2021年7月10日以电话和送达相结合方式发出。本次会议应到董事11名,实际出席董事11名(其中委托出席的董事3名,独立董事路国平先生因出差,委托独立董事赵曙明先生代为出席并行使表决权;独立董事毛凌霄先生因出差,委托独立董事聂尧先生代为出席并行使表决权;
董事王凯先生因工作安排冲突,委托董事丛学年先生代为出席并行使表决权)。会议由董事长张联东先生召集和主持,公司部分监事和高级管理人员列席了会议。本次会议的召集、召开符合《公司法》等有关法律法规和《公司章程》的规定。
二、董事会会议审议情况
会议以举手表决的方式,审议通过了如下决议:
1、会议以7票同意,0票反对,0票弃权,审议通过了《关于〈江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)〉及其摘要的议案》。
拟参与本期核心骨干持股计划的董事张联东先生、钟雨先生、刘化霜先生、周新虎先生,回避了本议案的表决。
为进一步完善公司治理结构,建立健全公司长期有效的激励约束机制,完善公司薪酬考核体系,实现股东、公司和核心骨干的利益结合,促进各方共同关注公司的长远发展。建立股东与经营层及核心骨干之间的利益共享、风险共担机制,提升公司管理团队的凝聚力和公司竞争力,确保公司未来发展战略和经营目标的实现。充分调动经营层以及对公司持续发展有直接影响的核心骨干的主动性和创造性,吸引和保留优秀的人才,多维度打造人力资源优势,为公司持续健康发展注入新的动力。根据《公司法》、《证券法》、《关于上市公司实施员工持股计划试点的指导意见》等法律、行政法规、规章、规范性文件和公司章程的有关规定,并结合公司实际情况,公司拟实施第一期核心骨干持股计划,并制定了《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)》及其摘要。公司实施本期核心骨干持股计划符合相关国有资产监督管理机构关于混合所有制企业员工持股的有关要求。
《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)》及其摘要,详见公司同日在“巨潮资讯网”(www.cninfo.com.cn)披露的公告。
公司独立董事对本议案发表了独立意见,详见公司同日在“巨潮资讯网”(www.cninfo.com.cn)披露的公告。
本议案需提交公司2021年第二次临时股东大会审议。
2、会议以 7 票同意,0 票反对,0 票弃权,审议通过了《关于〈江苏洋河酒厂股份有限公司第一期核心骨干持股计划管理办法〉的议案》。
拟参与本期核心骨干持股计划的董事张联东先生、钟雨先生、刘化霜先生、周新虎先生,回避了本议案的表决。
为规范公司本期核心骨干持股计划的实施,根据《公司法》、《证券法》、《关于上市公司实施员工持股计划试点的指导意见》等有关法律、行政法规、规章、规范性文件,公司制定了《江苏洋河酒厂股份有限公司第一期核心骨干持股计划管理办法》。
《江苏洋河酒厂股份有限公司第一期核心骨干持股计划管理办法》,详见公司同日在“巨潮资讯网”(www.cninfo.com.cn)披露的公告。
本议案需提交公司2021年第二次临时股东大会审议。
3、会议以7票同意,0票反对,0票弃权,审议通过了公司《关于提请股东大会授权董事会办理公司第一期核心骨干持股计划有关事项的议案》。
拟参与本期核心骨干持股计划的董事张联东先生、钟雨先生、刘化霜先生、周新虎先生,回避了本议案的表决。
为保证公司本期核心骨干持股计划事宜的顺利进行,董事会提请股东大会授权董事会办理本持股计划的有关事宜,具体授权事项如下:
(1)授权董事会负责拟定和修改本持股计划;
(2)授权董事会实施本持股计划;
(3)授权董事会办理本持股计划的变更和终止,包括但不限于按
照本持股计划的约定取消计划持有人的资格、提前终止本持股计划;
(4)授权董事会对本持股计划的存续期延长作出决定;
(5)本持股计划经股东大会审议通过后,若在实施期限内相关法
律、法规、政策发生变化的,授权董事会按照新的政策对本持股计划作出相应调整;
(6)授权董事会办理本持股计划所过户股票的锁定、解锁以及分配的全部事宜;
(7)授权董事会确定或变更本次持股计划的资产管理机构,并签署相关协议;
(8)授权董事会拟定、签署与本持股计划相关协议文件;
(9)授权董事会办理本持股计划所需的其他必要事宜,但有关文件明确规定需由股东大会行使的权利除外。
上述授权自公司股东大会批准之日起至本持股计划终止之日内有效。上述授权事项,除法律、行政法规、中国证监会规章、规范性文件、本次持股计划或《公司章程》有明确规定需由董事会决议通过的事项外,其他事项可由董事长或其授权的适当人士代表董事会直接行使。
本议案需提交公司2021年第二次临时股东大会审议。
4、会议以11票同意,0票反对,0票弃权,审议通过了《关于内部组织机构调整的议案》。
为进一步整合全媒体资源,建立健全内容设计、媒介传播联动机制,做好品牌建设顶层设计及规划,打造一流品牌文化和企业文化,提高公司的品牌影响力,提升企业的市场竞争力,决定设立品牌文化中心。
5、会议以11票同意,0票反对,0票弃权,审议通过了《关于召开2021年第二次临时股东大会的议案》。
同意召开公司2021年第二次临时股东大会,审议第七届董事会第三次会议和第七届监事会第三次会议需提交公司股东大会审议的议案。
《关于召开2021年第二次临时股东大会的通知》,详见公司同日在《证券时报》、《中国证券报》、《上海证券报》、《证券日报》和“巨潮资讯网”(www.cninfo.com.cn)披露的公告。
三、备查文件
1、第七届董事会第三次会议决议
2、公司独立董事对第七届董事会第三次会议相关事项发表的独立意见特此公告。
江苏洋河酒厂股份有限公司董事会
2021年 7 月 16日

洋河股份:独立董事对第七届董事会第三次会议相关事项发表的独立意见
深圳证券交易所 2021-07-16 08:00 | 下载

江苏洋河酒厂股份有限公司独立董事
对第七届董事会第三次会议相关事项发表的独立意见
根据《公司法》、《关于在上市公司建立独立董事制度的指导意见》、《深圳证券交易所上市公司信息披露指引第4号—员工持股计划》等法律法规的规定,我们作为江苏洋河酒厂股份有限公司的独立董事,认真审阅了《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草案)》及其摘要等有关内容,现就本期核心骨干持股计划相关事项发表独立意见如下:
1、公司本期核心骨干持股计划符合《关于上市公司实施员工持股计划试点的指导意见》、《深圳证券交易所上市公司信息披露指引第4号—员工持股计划》、《公司章程》等有关法律法规的规定,不存在损害公司及全体股东利益的情形,也不存在以摊派、强行分配等方式强制参与对象参与本期核心骨干持股计划的情形。
2、公司实施本期核心骨干持股计划有利于进一步完善公司治理结构,激发核心骨干的工作潜能,实现核心骨干与企业利益的战略捆绑,促进公司可持续健康发展。
3、本期核心骨干持股计划的实施是参与对象在依法合规、自愿参与、风险自担的原则上参与的,不存在违反有关法律法规的情形。
4、公司董事会会议在审议本议案时,关联董事已根据相关规定回避表决,董事会审议和决策的程序合法、合规。
综上所述,我们同意公司实施本期核心骨干持股计划,并同意将相关议案提交公司股东大会进行审议。
独立董事:赵曙明、聂尧、路国平、毛凌霄2021年7月15日

洋河股份:第一期核心骨干持股计划管理办法
深圳证券交易所 2021-07-16 08:00 | 下载

江苏洋河酒厂股份有限公司
第一期核心骨干持股计划管理办法
第一章 总则
第一条 为规范江苏洋河酒厂股份有限公司(以下简称“洋河股份”或“公司”)
第一期核心骨干持股计划(以下简称“本持股计划”或“持股计划”)的实施,根
据《中华人民共和国公司法》(以下简称“《公司法》”)、《中华人民共和国证券法》(以下简称“《证券法》”)、《关于上市公司实施员工持股计划试点的指导意见》(以下简称“《指导意见》”)及《深圳证券交易所上市公司信息披露指引第4 号——员工持股计划》等相关法律、行政法规、规章、规范性文件和《公司章程》之规定,特制定本管理办法。
第二章 持股计划的制定
第二条 持股计划所遵循的基本原则
(一)依法合规原则
公司实施持股计划,严格按照法律、行政法规的规定履行程序,真实、准确、完整、及时地实施信息披露。任何人不得利用持股计划进行内幕交易、操纵证券市场等证券欺诈行为。
(二)自愿参与原则
公司实施持股计划遵循公司自主决定,核心骨干自愿参加,公司不以摊派、强行分配等方式强制核心骨干参加持股计划。
(三)风险自担原则
持股计划持有人盈亏自负,风险自担,与其他投资者权益平等。
第三条持股计划履行的程序
(一)公司实施本持股计划前,应通过职工代表大会等组织充分征求员工意见;
(二)董事会审议通过本持股计划草案,独立董事应当就本持股计划是否有
利于公司的持续发展,是否存在损害公司及全体股东的利益,是否存在摊派、强行分配等方式强制参与本持股计划发表意见;
(三)监事会负责对本持股计划是否有利于公司的持续发展,是否存在损害
公司及全体股东的利益,是否存在摊派、强行分配等方式强制参与本持股计划发表意见;
(四)董事会在审议通过本持股计划草案后的 2 个交易日内,公告董事会决
议、持股计划草案全文及摘要、独立董事意见等;
(五)公司聘请律师事务所对持股计划出具法律意见书,并在召开关于审议本持股计划的股东大会前公告法律意见书;
(六)召开股东大会审议本持股计划。股东大会将采用现场投票与网络投票
相结合的方式进行投票,经出席股东大会的非关联股东所持表决权的过半数通过后,本持股计划即可以实施;
(七)召开本持股计划持有人会议,选举产生管理委员会委员,明确本持股
计划实施的具体事项,并及时披露会议的召开情况及相关决议;
(八)公司应在完成标的股票过户至持股计划名下的 2 个交易日内,及时披
露获得标的股票的时间、数量等情况;
(九)其他中国证监会、证券交易所规定需要履行的程序。
第四条 持股计划持有人的确定依据和范围
本持股计划的持有人系依据《公司法》、《证券法》、《指导意见》等有关法律、法规、规章及《公司章程》的相关规定而确定,公司核心骨干按照依法合规、自愿参与、风险自担的原则参加本持股计划。
参加本持股计划的人员范围为包括公司董事(不含独立董事)、监事、高级管理人员,以及公司及全资子公司经董事会认定对公司整体业绩和中长期发展具有重要作用的中层及以上人员和核心骨干。
第五条 持股计划的资金来源、股票来源、规模及购买价格
(一)资金来源
公司核心骨干参与本持股计划的资金来源为其合法薪酬、自筹资金和法律法规允许的其他方式。
本持股计划拟筹集资金总额上限为 1002167686.30 元,以“份”作为认购单位,每份份额为 1.00 元。任一持有人所持有本持股计划份额所对应的公司股票数量不超过公司股本总额的 1%。持股计划持有人具体持有份额数以其最后确认缴纳的份数为准。
本持股计划持有人按照认购份额按期足额缴纳认购资金,持股计划的缴款时间由公司统一通知安排。持有人认购资金未按期、足额缴纳的,则自动丧失相应的认购权利。
(二)股票来源
本持股计划股票来源为公司回购专用账户回购的洋河股份 A 股普通股股票。
公司于2019年10月29日召开的第六届董事会第九次会议审议通过了《关于回购部分社会公众股份的方案》,并于2019年11月05日披露了《回购报告书》(公告编号:2019-028)。公司拟使用自有资金以集中竞价交易方式回购公司股份,回购总额不低于人民币10亿元(含)且不超过人民币15亿元(含)。
2020年10月31日公司披露了《关于回购公司股份实施结果暨股份变动的公告》(公告编号:2020-037),截至2020年10月29日,公司通过回购专用证券账户以集中竞价交易方式累计回购公司股份9661310股,占公司总股本的0.64%,最高成交价为 131.99 元 / 股,最低成交价为 80.37 元 / 股,成交金额为1002128680.79元(含交易费用)。本次股份回购期限已届满,股份回购已实施完毕。
(三)规模
本持股计划持股规模不超过 9661310 股,约占本持股计划草案公告日公司股本总额 1506988000 股的 0.64%。
本持股计划草案获得股东大会批准后,将通过非交易过户等法律法规允许的方式获得公司回购专用证券账户所持有的公司股票。
本持股计划具体持股数量以参与对象实际出资缴款情况确定。实施后,全部有效的持股计划所持有的股票总数累计不超过公司股本总额的 10%,任一持有人持有的持股计划份额所对应的标的股票数量不超过公司股本总额的 1%。本持股计划持有的股票总数不包括持有人在公司首次公开发行股票上市前获得的股份、通过二级市场自行购买的股份以及通过股权激励获得的股份。
(四)股票购买价格及合理性说明
1、本持股计划购买回购股份的价格为公司回购股份均价,为 103.73 元/股。
2、为了建立和完善劳动者与所有者的利益共享机制,实现公司、股东和核心骨干利益的结合,进一步建立健全公司长效激励机制,从而充分有效调动公司核心骨干的主动性、积极性和创造性,吸引和保留优秀管理人才和业务骨干,提高公司核心竞争能力,提高核心骨干的凝聚力,推动公司稳定、健康、长远发展。
在依法合规的基础上,以低于市价的购股价格实现对核心骨干的激励,可以充分调动核心骨干的积极性,真正提升核心骨干的工作热情和责任感,有效地统一核心骨干和公司及公司股东的利益。
在参考公司经营情况和行业发展情况的基础上,同时兼顾本持股计划需以合理的成本实现对参与人员合理的激励作用的目的。本持股计划购买回购股份的价格为公司回购股份均价,为 103.73 元/股。从激励性的角度来看,该定价具有合理性与科学性,且未损害公司及全体股东利益。
第六条 持股计划的存续期、锁定期
(一)存续期
1、本持股计划的存续期为 36 个月,自本持股计划草案经公司股东大会审议通过且公司公告最后一笔标的股票过户至本持股计划名下之日起计算,本持股计划在存续期届满时如未展期则自行终止。
2、本持股计划的锁定期届满后,当持股计划所持有的股票全部转出且持股计划项下货币资产(如有)已全部清算、分配完毕后,本持股计划可提前终止。
3、本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售或过户至持股计划份额持有人,管理委员会委员超过半数以上同意并提交公司董事会审议通过后,本持股计划的存续期可以延长。
4、如因公司股票停牌或者敏感期较长等情况,导致本持股计划所持有的公司股票无法在存续期届满前全部变现的,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期限可以延长。
(二)锁定期
1、本持股计划所获标的股票的锁定期为 24 个月,自公司公告最后一笔标的股票过户至当期持股计划名下之日起计算。标的股票权益待锁定期届满后,在满足相关考核条件的前提下由管理委员会根据本持股计划相关规定进行处置。
本持股计划所取得标的股票,因上市公司分配股票股利、资本公积转增等情形所衍生取得的股份 亦应遵守上述股份锁定安排。
2、本持股计划相关主体必须严格遵守市场交易规则,遵守信息敏感期不得买卖股票的规定,各方均不得利用持股计划进行内幕交易、市场操纵等证券欺诈行为。
上述敏感期是指:
(1)公司定期报告公告前 30 日内,因特殊原因推迟公告日期的,自原公告
日前 30 日起至最终公告日;
(2)公司业绩预告、业绩快报公告前 10 日内;
(3)自可能对公司股票交易价格产生重大影响的重大事项发生之日或在决策过程中,至依法披露后 2 个交易日内;
(4)证券交易所规定的其他期间。
(三)持股计划的业绩考核
持有人的标的股票权益将自本持股计划草案经公司股东大会审议通过,且公司公告最后一笔标的股票过户至本持股计划名下之日起的 24 个月后,依据业绩考核结果分配至持有人。公司业绩考核要求如下:2021 年营业收入较 2020 年增长不低于 15%且 2022 年营业收入较 2021 年增长不低于 15%(以会计师审计结果为准)。
若本持股计划项下的公司业绩考核指标未达成,本持股计划持有的全部标的股票权益由管理委员会收回,在锁定期届满后择机出售,并以出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益归公司享有。
第三章 持股计划的管理
第七条 持股计划的管理机构及管理模式
本持股计划设立后将自行管理,内部最高管理权力机构为持有人会议。持有人会议由本持股计划全体持有人组成,持有人会议选举产生管理委员会,并授权管理委员会作为管理方,负责开立持股计划相关账户、负责本持股计划的日常管理事宜(包括但不限于在锁定期届满后减持本持股计划所持有的公司股票、代表本持股计划向持有人分配收益和现金资产等)、代表持股计划持有人行使股东权利等。公司董事会负责拟定和修改本持股计划,并在股东大会授权范围内办理本持股计划的其他相关事宜。
第八条 持股计划持有人会议
(一)持有人会议是持股计划的内部最高管理权力机构。所有持有人均有权
利参加持有人会议。持有人可以亲自出席持有人会议并表决,也可以委托代理人代为出席并表决。持有人及其代理人出席持有人会议的差旅费用、食宿费用等,均由持有人自行承担。
(二)以下事项需要召开持有人会议进行审议:
1、选举、罢免管理委员会委员;
2、持股计划存续期内,公司以配股、增发、可转债等方式融资时,由管理委员会商议参与融资的具体方案,并提交持有人会议审议;
3、修订持股计划管理办法;
4、授权管理委员会监督或负责持股计划的日常管理;
5、授权管理委员会行使股东权利;
6、其他管理委员会认为需要召开持有人会议审议的事项。
(三)首次持有人会议由公司董事会秘书或指定人员负责召集和主持,其后
持有人会议由管理委员会负责召集,由管理委员会主任主持。管理委员会主任不能履行职务时,由其指派一名管理委员会委员负责主持。
(四)召开持有人会议,管理委员会应提前 5 日将书面会议通知,通过直接
送达、邮寄、传真、电子邮件、协同办公系统或者其他方式,提交给全体持有人。
书面会议通知应当至少包括以下内容:
1、会议的时间、地点;
2、会议的召开方式;
3、拟审议的事项(会议提案);
4、会议召集人和主持人、临时会议的提议人及其书面提议;
5、会议表决所必需的会议材料;
6、持有人应当亲自出席或者委托其他持有人代为出席会议;
7、联系人和联系方式;
8、发出通知的日期。
如遇紧急情况,可以通过口头方式通知持有人随时召开持有人会议。口头方式通知至少应包括上述第 1、2 项内容以及因情况紧急需要尽快召开持有人会议的说明。
持有人会议可以通过电话会议、视频会议或类似的通讯工具召开,只要参加会议的所有持有人能够听到并彼此交流,所有通过该等方式参加会议的持有人应视为亲自出席会议。
(五)持有人会议的表决程序
1、每项提案经过充分讨论后,主持人应当适时提请与会持有人进行表决。
主持人也可决定在会议全部提案讨论完毕后一并提请与会持有人进行表决,表决方式为书面表决。
2、本持股计划的持有人按其持有的份额享有表决权。
3、持有人的表决意向分为同意、反对和弃权。与会持有人应当从上述意向中选择其一,未做选择或者同时选择两个以上意向的,视为弃权;中途离开会场不回而未做选择的,视为弃权;未填、错填、字迹无法辨认的表决票或未投的表决票均视为弃权。持有人在会议主持人宣布表决结果后或者规定的表决时限结束后进行表决的,其表决情况不予统计。
4、会议主持人应当当场宣布现场表决统计结果。每项议案如经出席持有人会议的持有人所持 1/2 以上份额同意后则视为表决通过(本持股计划规定需 2/3以上份额同意的除外),形成持有人会议的有效决议。
5、持有人会议决议需报公司董事会、股东大会审议的,须按照《公司章程》的规定提交公司董事会、股东大会审议。
6、会议主持人负责安排人员对持有人会议做好记录。
(六)单独或合计持有持股计划 30%以上份额的持有人可以向持有人会议提
交临时提案,临时提案须在持有人会议召开前 3 日向管理委员会提交。
(七)单独或合计持有持股计划 30%以上份额的持有人可以提议召开持有人会议。
第九条 持股计划管理委员会
(一)本持股计划设管理委员会,监督或负责本持股计划的日常管理,对持股计划负责。
(二)管理委员会由 5 名委员组成,设管理委员会主任 1 人。管理委员会委员均由持有人会议选举产生。管理委员会主任由管理委员会以全体委员的过半数选举产生。管理委员会委员的任期为持股计划的存续期。
(三)管理委员会委员应当遵守法律、行政法规和持股计划管理办法的规定,对持股计划负有下列忠实义务:
1、不得利用职权收受贿赂或者其他非法收入,不得侵占持股计划的财产;
2、不得挪用持股计划资金;
3、未经持有人会议同意,不得将持股计划资产或者资金以其个人名义或者其他个人名义开立账户存储;
4、未经持有人会议同意,不得将持股计划资金借贷给他人或者以持股计划财产为他人提供担保;
5、不得利用其职权损害持股计划利益;
6、不得擅自披露与持股计划相关的商业秘密。
管理委员会委员违反忠实义务给持股计划造成损失的,应当承担赔偿责任。
(四)管理委员会行使以下职责:
1、负责召集持有人会议;
2、代表全体持有人监督或负责持股计划的日常管理;
3、代表全体持有人行使持股计划所持有股份的股东权利或者授权资产管理机构行使股东权利;
4、审议持股计划的变更、终止、存续期的延长;
5、决策是否聘请相关专业机构为持股计划日常管理提供管理、咨询等服务;
6、代表持股计划对外签署相关协议、合同;
7、按照本管理办法“第五章 持股计划的变更、终止及持有人权益的处置”相关规定对持有人权益进行处置;
8、决策持股计划弃购份额、被强制收回份额或权益的归属;
9、管理持股计划利益分配,在持股计划锁定期届满后,决定标的股票出售及分配等相关事宜;
10、办理本持股计划份额登记、继承登记;
11、负责持股计划的减持安排;
12、持有人会议授权的其他职责;
(五)管理委员会主任行使下列职权:
1、主持持有人会议和召集、主持管理委员会会议;
2、经管理委员会授权代表全体持有人行使股东权利;
3、督促、检查持有人会议、管理委员会决议的执行;
4、代表持股计划对外签署相关协议、合同;
5、管理委员会授予的其他职权。
(六)管理委员会的召集程序
管理委员会不定期召开会议,由管理委员会主任召集,于会议召开 3 日前通知全体管理委员会委员,全体管理委员会委员对表决事项一致同意的可以以通讯方式召开和表决。
经管理委员会各委员同意,可豁免上述通知时限。情况紧急,需要尽快召开管理委员会紧急会议的,可以随时通过电话或者其他口头方式发出会议通知,但召集人应当在会议上作出说明。
(七)管理委员会的召开和表决程序
1、管理委员会会议应有过半数的管理委员会委员出席方可举行。
2、管理委员会作出决议,必须经全体管理委员会委员的过半数通过。管理委员会决议的表决,实行一人一票。
3、管理委员会决议表决方式为记名投票表决。管理委员会会议在保障管理委员会委员充分表达意见的前提下,可以用传真等方式进行投票并作出决议,由参会管理委员会委员签字确认。
4、管理委员会会议,应由管理委员会委员本人出席;管理委员会委员因故不能出席的,可以书面委托其他管理委员会委员代为出席,委托书中应载明代理人的姓名、代理事项、授权范围和有效期限,并由委托人签名或盖章。代为出席会议的管理委员会委员应当在授权范围内行使管理委员会委员的权利。管理委员会委员未出席管理委员会会议,亦未委托代表出席的,视为放弃在该次会议上的投票权。
第十条 持股计划持有人的权利和义务
(一)持有人的权利
1、依照其持有的本持股计划份额享有本持股计划资产的权益;
2、参加或委派其代理人参加持有人会议,并行使相应的表决权;
3、对本持股计划的管理进行监督,提出建议或质询;
4、法律、行政法规、部门规章或本持股计划规定的其他权利。
(二)持有人的义务
1、遵守法律、行政法规、部门规章和本持股计划的相关规定;
2、依照其所认购的本持股计划份额和方式缴纳认购资金;
3、依照其所持有的本持股计划份额承担本持股计划的投资风险;
4、遵守持股计划管理办法;
5、本持股计划存续期内,持有人所持本计划份额不得自行转让、退出、用于担保、偿还债务或作其他类似处置;
6、在本持股计划存续期间内,不得要求分配本计划资产;
7、法律、行政法规及本持股计划规定的其他义务。
第四章 持股计划的资产构成与权益分配
第十一条 持股计划的资产构成
(一)公司股票对应的权益。
(二)现金存款和银行利息。
(三)持股计划其他投资所形成的资产。
本持股计划的资产独立于公司的固定资产,公司不得将本持股计划资产委托归入其固有财产。因本持股计划的管理、运用或者其他情形而取得的财产和收益归入本持股计划资产。
第十二条 持股计划的权益分配
(一)在本持股计划存续期内,除法律、行政法规、部门规章另有规定,或
经管理委员会同意,持有人所持本持股计划份额不得转让、担保或作其他类似处置。
(二)在存续期之内,持有人不得私自要求对本持股计划的权益进行分配。
(三)在锁定期内,公司发生资本公积转增股本、派送股票红利时,本持股
计划因持有公司股份而新取得的股份一并锁定,不得在二级市场出售或以其他方式转让,该等股票的解锁期与相对应股票相同。
锁定期届满后,由管理委员会陆续变现持股计划资产,并按持有人所持份额的比例,分配给持有人;或者由管理委员会向证券登记结算机构提出申请,根据相关法律法规的要求,按持有人所持份额的比例,将标的股票过户至持有人个人账户,由个人自行处置。如受法律法规限制无法过户至个人账户的,由管理委员会统一变现该部分资产,并按持有人所持份额的比例,分配给持有人。如存在剩余未分配标的股票及其对应的分红(如有),由持股计划管理委员会在该期持股计划存续期届满前按持有人所持份额的比例进行分配。
(四)当本持股计划存续期届满或拟提前终止时,由管理委员会根据持有人
会议的授权在届满或终止之日起 30 个工作日内完成清算,并按持有人持有的份额进行分配。
第五章 持股计划的变更、终止及持有人权益的处置
第十三条 公司发生实际控制权变更、合并、分立
若公司实际控制权发生变更,或发生合并、分立等情形,公司董事会将在情形发生之日起 5 个交易日内决定是否终止实施本持股计划。
第十四条 持股计划的变更存续期内,本持股计划的变更须经管理委员会委员超过半数以上同意,并提交公司董事会审议通过。
第十五条 持股计划的终止
(一)本持股计划存续期届满后自行终止;
(二)本持股计划的锁定期届满后,当持股计划所持有的股票全部转出且持
股计划项下货币资产(如有)已全部清算、分配完毕后,本持股计划可提前终止;
(三)本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售
或过户至持股计划份额持有人,经管理委员会委员超过半数以上同意并提交公司董事会审议通过,本持股计划的存续期可以延长;
(四)如因公司股票停牌或者敏感期较长等情况,导致本持股计划所持有的
公司股票无法在存续期届满前全部变现的,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期限可以延长。
第十六条 持有人权益的处置
(一)存续期内,持有人所持有的持股计划权益不得自行退出,不得用于抵
押、质押、担保、偿还债务或作其他类似处理。
(二)存续期内,持有人所持有的持股计划权益未经管理委员会同意不得转让,未经同意擅自转让的,该转让行为无效。
(三)发生如下情形之一的,持有人所持有的权益不发生变更:
1、持有人发生职务变更,但仍在公司或全资子公司任职的;
2、持有人退休的;
3、持有人丧失劳动能力而离职的;
4、持有人身故的,其持有的权益由其指定的财产继承人或法定继承人代为持有;
5、管理委员会认定的其他情形。
(四)发生如下情形之一的,管理委员会有权取消该持有人参与本持股计划的资格,并将其持有的本持股计划未分配权益强制收回,由管理委员会择机出售,按照出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益(如有)由参与本持股计划的其余持有人按出资比例共同享有;
1、持有人合同到期不再续约或主动辞职的;
2、未经公司同意,以出资(包括间接持股或委托持股)、担任职务、从事工作等任何方式自营或者同他人合作经营与公司及子公司相同、相类似的竞争业务的;
3、有弄虚作假、受贿、索贿、职务侵占、盗窃、泄露公司机密等行为被公司开除的;
4、管理委员会认定的其他情形。
(五)其他情况
如发生其他未约定事项,持有人所持的持股计划份额的处置方式由公司与管理委员会协商确定。
第十七条 持股计划存续期满届后股份的处置办法
(一)若本持股计划所持有的公司股票全部出售或过户至持股计划份额持有人,且持股计划资产依照本持股计划规定清算、分配完毕的,本持股计划即可终止。
(二)本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售
或过户至持股计划份额持有人,经管理委员会委员超过半数以上同意并提交公司董事会审议通过,本持股计划的存续期可以延长。
(三)本持股计划拟提前终止或存续期届满后,由管理委员会根据持有人会
议的授权对持股计划资产进行清算,在终止或存续期届满后 30 个工作日内完成清算,并按照持有人所持份额进行分配。
(四)本持股计划存续期届满后,若持股计划所持资产仍包含标的股票的,由管理委员会确定处置办法。
第六章 附则
第十八条 本管理办法经公司股东大会审议通过方可实施。
第十九条 本管理办法未尽事宜,由董事会、管理委员会和持有人另行协商解决。
第二十条 本管理办法解释权归公司董事会。
江苏洋河酒厂股份有限公司董事会
2021 年 7 月 15 日

洋河股份:关于召开2021年第二次临时股东大会的通知
深圳证券交易所 2021-07-16 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021-028江苏洋河酒厂股份有限公司
关于召开2021年第二次临时股东大会的通知
本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
根据江苏洋河酒厂股份有限公司(以下简称“公司”)第七届董事
会第三次会议决议,公司决定采取现场会议与网络投票相结合的方式召
开2021年第二次临时股东大会,现将有关事项通知如下:
一、召开会议的基本情况
1、股东大会届次:2021年第二次临时股东大会2、股东大会的召集人:公司董事会3、会议召开的合法、合规性:本次股东大会的召开符合有关法律、行政法规、部门规章、规范性文件和公司章程的规定。
4、会议召开的日期和时间:
⑴现场会议时间:2021年8月2日14:30。
⑵网络投票时间:2021年8月2日,其中通过深圳证券交易所交易系统投票的具体时间为:2021年8月2日上午9:15-9:25 9:30-11:30下午13:00-15:00;通过深圳证券交易所互联网投票系统投票的具体时间
为:2021年8月2日上午9:15至下午15:00期间的任意时间。
5、会议的召开方式:本次股东大会采用现场表决与网络投票相结合的方式召开。
6、会议的股权登记日:2021年7月28日7、出席对象:
⑴于股权登记日下午收市时在中国结算深圳分公司登记在册的公司
全体股东均有权出席股东大会,并可以以书面形式委托代理人出席会议和参加表决,该股东代理人不必是本公司股东。
⑵公司董事、监事和高级管理人员。
⑶公司聘请的律师。
⑷根据相关法规规定应当出席股东大会的其他人员。
8、现场会议的地点:江苏省南京市雨花经济开发区凤汇大道18号,公司南京营运中心429会议室
二、会议审议事项
提案100 总议案提案 1.00《关于及其摘要的议案》提案 2.00《关于的议案》提案3.00《关于提请股东大会授权董事会办理公司第一期核心骨干持股计划有关事项的议案》上述提案已经公司第七届董事会第三次会议和第七届监事会第三次
会议审议通过,详见2021年7月16日公司在《证券时报》、《中国证券报》、《上海证券报》、《证券日报》和“巨潮资讯网”披露的相关公告。
根据《上市公司股东大会规则》要求,上述提案一、提案二、提案
三属于涉及影响中小投资者利益的重大事项,公司将对中小投资者的表决单独计票,并及时公开披露。公司关联股东将对上述提案一、提案二、提案三回避表决。
三、提案编码本次股东大会提案编码表备注
提案编码 提案名称 该列打勾的栏目可以投票
100 总议案:所有提案 √非累积投票提案
关于及其摘要的议案
关于的议案关于提请股东大会授权董事会办理公司第一期
3.00 √核心骨干持股计划有关事项的议案
四、现场会议登记方法
1、登记方式:现场登记、通过信函或传真方式登记,公司不接受电话方式登记,采用信函或传真方式登记的,登记时间以收到传真或信函时间为准。
2、登记时间:2021年7月29日9:00至12:0014:00至17:00。
3、登记地点:江苏省南京市雨花经济开发区凤汇大道18号,公司南京营运中心709室(洋河股份证券部)。
4、登记资料:自然人股东亲自出席会议的,应出示本人身份证、持股凭证;自然人股东委托代理人出席会议的,应出示被委托人身份证、委托人身份证复印件、授权委托书、持股凭证。
法人股东由法定代表人出席会议的,应出示本人身份证、加盖公章的营业执照复印件、持股凭证;法定代表人委托代理人出席会议的,应出示被委托人身份证、加盖公章的营业执照复印件、授权委托书、持股凭证。
5、现场会议入场时间为2021年8月2日13:30至14:20,经登记拟出席本次现场会议的股东及股东代理人,应持上述登记资料进行现场核对后方可入场,14:20以后将不再办理出席现场会议的股东身份核对。未经现场身份核对,不得进入股东大会会场。
6、现场参会人员务必提前关注并遵守会议所在地疫情防控规定和要求。
五、参与网络投票的具体操作流程
本次股东大会向股东提供网络形式的投票平台,股东可以通过深圳证券交易所交易系统或互联网投票系统(http://wltp.cninfo.com.cn)参加网络投票,网络投票的具体操作流程详见附件 1。
六、其他事项
1、会议联系方式联系人:张庆芹电话、传真:025-524892182、与会股东食宿及交通费自理3、附件1:参加网络投票的具体操作流程附件2:授权委托书样本
七、备查文件
1、第七届董事会第三次会议决议
2、第七届监事会第三次会议决议特此公告。
江苏洋河酒厂股份有限公司董事会2021年7月16日
附件1:
参加网络投票的具体操作流程
一、网络投票的程序
1、投票代码:362304 投票简称:洋河投票2、填报表决意见:同意、反对、弃权。
3、股东对总议案进行投票,视为对具体提案表达相同意见,不需要再对具体提案分别投票。
股东对总议案与具体提案重复投票时,以第一次有效投票为准。如股东先对具体提案投票表决,再对总议案投票表决,则以已投票表决的具体提案的表决意见为准,其他未表决的提案以总议案的表决意见为准;
如先对总议案投票表决,再对具体提案投票表决,则以总议案的表决意见为准。
二、通过深交所交易系统投票的程序
1、投票时间:2021年 8月 2日的交易时间,即 9:15-9:25,9:30-11:30和 13:00-15:00。
2、股东可以登录证券公司交易客户端通过交易系统投票。
三、通过深交所互联网投票系统投票的程序
1、互联网投票系统开始投票的时间为 2021 年 8月 2 日上午 9:15,结束时间为 2021 年 8 月 2 日下午 15:00。
2、股东通过互联网投票系统进行网络投票,需按照《深圳证券交易所投资者网络服务身份认证业务指引(2016 年修订)》的规定办理身份认证,取得“深交所数字证书”或“深交所投资者服务密码”。具体的身份认证流程可登录互联网投票系统 http://wltp.cninfo.com.cn 规则指引栏目查阅。
3 、 股 东 根 据 获 取 的 服 务 密 码 或 数 字 证 书 , 可 登 录http://wltp.cninfo.com.cn 在规定时间内通过深交所互联网投票系统进行投票。
附件 2:
授 权 委 托 书
致:江苏洋河酒厂股份有限公司兹委托______ _先生(女士)代表本人/本单位出席江苏洋河酒厂股份有限公司2021
年第二次临时股东大会,对以下提案以投票方式代为行使表决权。本人/本单位对本次会议
表决事项未作具体指示的,受托人可代为行使表决权,其行使表决权的后果均为本人/本单位承担。
备注 表决意见
提案 该列打提案名称
编码 勾的栏 同意 反对 弃权目可以投票
100 总议案 :所有提案 √非累积投票提案
关于及其摘 √要的议案
关于的议案关于提请股东大会授权董事会办理公
3.00 司第一期核心骨干持股计划有关事项 √的议案
委托人签字或盖章: 受托人签字:
委托人身份证件及号码: 受托人身份证号码:
委托人持股数:
委托人股东账号:
委托日期: 年 月 日,委托期限:自签署日至本次股东大会结束(注:授权委托书剪报、复印或按以上格式自制均有效;单位委托必须加盖单位公章。)

洋河股份:第一期核心骨干持股计划(草案)摘要
深圳证券交易所 2021-07-16 08:00 | 下载

证券简称:洋河股份 证券代码:002304江苏洋河酒厂股份有限公司
第一期核心骨干持股计划(草案)摘要
二〇二一年七月声明
本公司及董事会全体成员保证第一期核心骨干持股计划内容真实、准确和完整,没有虚假记载、误导性陈述或重大遗漏。
风险提示
一、江苏洋河酒厂股份有限公司(以下简称“洋河股份”或“公司”)第一期
核心骨干持股计划(以下简称“本持股计划”)须经公司股东大会批准后方可实施,本持股计划能否获得公司股东大会批准,存在不确定性;
二、本持股计划设立后将由公司自行管理,但能否达到计划规模、目标存在不确定性;
三、有关本持股计划的具体的资金来源、出资比例、实施方案等属初步结果,存在不确定性;
四、若参与对象认购资金较低时,本持股计划存在不成立的风险;
五、股票价格受公司经营业绩、宏观经济周期、国际/国内政治经济形势及投
资者心理等多种复杂因素影响。因此,股票交易是有一定风险的投资活动,投资者对此应有充分准备;
六、敬请广大投资者谨慎决策,注意投资风险。
特别提示
本部分内容中的词语简称与“释义”部分保持一致。
一、江苏洋河酒厂股份有限公司第一期核心骨干持股计划系依据《中华人民共和国公司法》、《中华人民共和国证券法》、《关于上市公司实施员工持股计划试点的指导意见》及《深圳证券交易所上市公司信息披露指引第 4 号——员工持股计划》等有关法律、行政法规、规章、规范性文件和《公司章程》的规定制定。
二、本持股计划遵循依法合规、自愿参与、风险自担的原则,不存在摊派、强行分配等强制核心骨干参加本持股计划的情形。
三、本持股计划的参与对象为公司董事(不含独立董事)、监事、高级管理人员,以及公司及全资子公司经董事会认定对公司整体业绩和中长期发展具有重要作用的中层及以上人员和核心骨干。参与本持股计划人员总数共计不超过5100 人,具体参加人数、名单将由公司遴选并根据实际缴款情况确定。
四、本持股计划的资金来源为参与对象合法薪酬、自筹资金以及法律法规允许的其他方式。公司不得向参与对象提供垫资、担保、借贷等财务资助。参与对象不得接受与公司有生产经营业务往来的其他企业的借款或融资帮助,本持股计划不涉及杠杆资金。
本持股计划持股规模不超过 9661310 股,约占本持股计划草案公告日公司股本总额 1506988000 股的 0.64%;本持股计划以“份”作为认购单位,每份份额为 1.00 元,合计认购份额不超过 1002167686.30 份,拟筹集资金总额上限为1002167686.30 元,具体份额根据实际出资缴款金额确定,公司将根据相关法律法规要求及时履行信息披露义务。
五、本持股计划股票来源为公司回购专用账户回购的洋河股份 A 股普通股股票。
公司于2019年10月29日召开的第六届董事会第九次会议审议通过了《关于回购部分社会公众股份的方案》,并于2019年11月05日披露了《回购报告书》(公告编号:2019-028)。公司拟使用自有资金以集中竞价交易方式回购公司股份,回购总额不低于人民币10亿元(含)且不超过人民币15亿元(含)。
2020年10月31日公司披露了《关于回购公司股份实施结果暨股份变动的公告》(公告编号:2020-037),截至2020年10月29日,公司通过回购专用证券账户以集中竞价交易方式累计回购公司股份9661310股,占公司总股本的0.64%,最高成交价为131.99元/股,最低成交价为80.37元/股,成交金额为1002128680.79元(含交易费用)。本次股份回购期限已届满,股份回购已实施完毕。
六、本持股计划所持有的公司股票总数累计不超过公司股本总额的 10%,单
个持有人所持持股计划份额所对应的股票总数累计不超过公司股本总额的 1%。
持股计划持有的股票总数不包括持有人在公司首次公开发行股票上市前获得的
股份、通过二级市场自行购买的股份以及通过股权激励获得的股份。最终标的股票的购买情况目前尚存在不确定性。
七、本持股计划购买回购股份的价格为公司回购股份均价,为 103.73 元/股。
八、本持股计划由公司自行管理,公司成立持股计划管理委员会,作为持股
计划的管理方,代表持股计划行使股东权利,公司采取了适当的风险防范和隔离措施切实维护持股计划持有人的合法权益。在持股计划存续期间,管理委员会可聘请相关专业机构为持股计划日常管理提供管理、咨询等服务。
九、本持股计划的存续期为 36 个月,所获标的股票的锁定期为 24 个月,自本持股计划草案经公司股东大会审议通过且公司公告最后一笔标的股票过户至
本持股计划名下之日起计算。本持股计划在存续期届满后自行终止,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期可以延长。
锁定期届满后,本持股计划所持股票权益将依据公司业绩目标考核结果进行处置。
十、持股计划业绩考核要求:2021 年营业收入较 2020 年增长不低于 15%且
2022 年营业收入较 2021 年增长不低于 15%(以会计师审计结果为准)。
若业绩考核指标未达成,本持股计划持有的全部标的股票权益由管理委员会收回,在锁定期届满后择机出售,并以出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益归公司享有。
十一、公司实施持股计划的财务、会计处理等问题按有关规定执行。
十二、本持股计划持有人将放弃因参与本持股计划而间接持有公司股票的表决权。本持股计划与公司控股股东、实际控制人、董事、监事、高级管理人员之间不存在关联关系或一致行动关系。
十三、公司董事会对本持股计划进行审议且无异议后,将召开股东大会审议本持股计划。本持股计划必须经公司股东大会批准后方可实施。
十四、本持股计划实施后,将不会导致公司股权分布不符合上市条件要求。
十五、公司实施本持股计划符合相关国有资产监督管理机构关于混合所有制企业员工持股的有关要求。
目录
特别提示................................................. 4
释义................................................... 8
一、持股计划的目的............................................ 9
二、持股计划的基本原则.......................................... 9
三、持股计划持有人的确定依据和范围.................................. 9
四、持股计划的资金来源、股票来源、规模和购买价格................... 11
五、持股计划的存续期、锁定期...................................... 12
六、存续期内公司融资时持股计划的参与方式........................... 14
七、公司与持有人的权利和义务...................................... 14
八、持股计划的管理机构及管理模式................................... 15
九、持股计划的资产构成及权益分配................................... 19
十、持股计划的变更、终止及持有人权益的处置......................... 20
十一、持股计划存续期届满后股份的处置办法........................... 22
十二、持股计划的会计处理........................................ 22
十三、关联关系和一致行动关系说明................................... 22释义
除非另有说明,以下简称在本文中作如下释义:
洋河股份/公司/本公司 指江苏洋河酒厂股份有限公司
本持股计划/持股计划/
指《江苏洋河酒厂股份有限公司第一期核心骨干持股计划》本计划指《江苏洋河酒厂股份有限公司第一期核心骨干持股计划(草本持股计划草案案)》指《江苏洋河酒厂股份有限公司第一期核心骨干持股计划管持股计划管理办法理办法》
指参与本持股计划的公司董事(不含独立董事)、监事、高级管理人员,以及公司及全资子公司经董事会认定对公司整持有人/参与对象体业绩和中长期发展具有重要作用的中层及以上人员和核心骨干。
持有人会议 指本持股计划持有人会议
管理委员会 指本持股计划管理委员会
洋河股份股票、公司股指洋河股份A股普通股股票票自本持股计划草案经公司股东大会审议通过且公司公告最后
一笔标的股票过户至本持股计划名下之日起,至本持股计划存续期 所持有的公司股票全部出售或过户至本持股计划份额持有人,且本持股计划资产依照本持股计划规定清算、分配完毕止。
自本持股计划草案经公司股东大会审议通过且公司公告最后锁定期一笔标的股票过户至本持股计划名下之日起计算
指本持股计划通过合法方式购买和持有的洋河股份A股普通标的股票股股票
中国证监会 指中国证券监督管理委员会
元、万元、亿元 指人民币元、人民币万元、人民币亿元《公司章程》 指《江苏洋河酒厂股份有限公司章程》
《公司法》 指《中华人民共和国公司法》
《证券法》 指《中华人民共和国证券法》
《指导意见》 指《关于上市公司实施员工持股计划试点的指导意见》
本文中若出现总数与各分项值之和尾数不符的情况,均为四舍五入原因造成。
一、持股计划的目的
公司依据《公司法》、《证券法》、《指导意见》等有关法律、行政法规、规章、规范性文件和《公司章程》的规定,制定了本持股计划草案。
参与对象自愿、合法、合规地参与本持股计划,持有公司股票的目的在于:
(一)进一步完善公司治理结构,建立健全公司长期有效的激励约束机制,完善公司薪酬考核体系,实现股东、公司和核心骨干的利益结合,促进各方共同关注公司的长远发展。
(二)建立股东与经营层及核心骨干之间的利益共享、风险共担机制,提升
公司管理团队的凝聚力和公司竞争力,确保公司未来发展战略和经营目标的实现。
(三)充分调动经营层以及对公司持续发展有直接影响的核心骨干的主动性和创造性,吸引和保留优秀的人才,多维度打造人力资源优势,为公司持续健康发展注入新的动力。
二、持股计划的基本原则
(一)依法合规原则
公司实施持股计划,严格按照法律、行政法规的规定履行程序,真实、准确、完整、及时地实施信息披露。任何人不得利用持股计划进行内幕交易、操纵证券市场等证券欺诈行为。
(二)自愿参与原则
公司实施持股计划遵循公司自主决定,核心骨干自愿参加,公司不以摊派、强行分配等方式强制核心骨干参加持股计划。
(三)风险自担原则
持股计划持有人盈亏自负,风险自担,与其他投资者权益平等。
三、持股计划持有人的确定依据和范围
(一)持股计划持有人的确定依据
本持股计划的持有人系依据《公司法》、《证券法》、《指导意见》等有关法律、法规、规章及《公司章程》的相关规定而确定,公司核心骨干按照依法合规、自愿参与、风险自担的原则参加本持股计划。
(二)持股计划持有人的范围
参加本持股计划的人员范围包括公司董事(不含独立董事)、监事、高级管理人员,以及公司及全资子公司经董事会认定对公司整体业绩和中长期发展具有重要作用的中层及以上人员和核心骨干。
(三)持股计划的持有人名单及份额分配情况
本持股计划设立时资金总额不超过 1002167686.30 元,以“份”作为认购单位,每份份额为 1.00 元,本持股计划的份数上限为 1002167686.30 份。本持股计划持有人具体持有份额以其最后确认缴纳的金额为准。
本持股计划的总人数共计不超过 5100 人,具体参加人数、名单将由公司遴选并根据实际缴款情况确定。持有人对应的权益份额的上限及比例如下表:
拟持有份额上限 拟持有份额占持
持有人 职务
(份) 股计划比例
张联东 董事长 10000000 1.00%
钟雨 副董事长、总裁 10000000 1.00%刘化霜 董事、执行总裁 10000000 1.00%周新虎 董事、副总裁、总工程师 5000000 0.50%陈太清 监事会主席 5000000 0.50%
陈福亚 监事 5000000 0.50%
陈太松 监事 5000000 0.50%
林青 副总裁 5000000 0.50%
郑步军 副总裁 5000000 0.50%
傅宏兵 副总裁 5000000 0.50%
尹秋明 副总裁、财务负责人 5000000 0.50%李玉领 副总裁 5000000 0.50%
张学谦 总裁助理 3000000 0.30%
宋志敏 总裁助理 3000000 0.30%
陆红珍 董事会秘书 2000000 0.20%其他核心骨干
919167686.30 91.72%(不超过 5085 人)
合计 1002167686.30 100.00%
注:参与对象最终认购持股计划的份额以其实际出资金额为准。
在规定时间内参与对象未足额缴纳认购资金的,则视为自动放弃认购权利,本持股计划管理委员会可根据参与对象实际缴款情况对参加对象名单及其认购份额进行调整。公司全部有效的持股计划所持有的股票总数累计不超过公司股本总额的10%,单个参与对象所获股份权益对应的股票总数累计不超过公司股本总额的1%。
四、持股计划的资金来源、股票来源、规模和购买价格
(一)资金来源
公司核心骨干参与本持股计划的资金来源为其合法薪酬、自筹资金和法律法规允许的其他方式。
本持股计划拟筹集资金总额上限为1002167686.30元,以“份”作为认购单位,每份份额为1.00元。任一持有人所持有本持股计划份额所对应的公司股票数量不超过公司股本总额的1%。持股计划持有人具体持有份额数以其最终确认缴纳的份数为准。
本持股计划持有人按照认购份额按期足额缴纳认购资金,持股计划的缴款时间由公司统一通知安排。持有人认购资金未按期、足额缴纳的,则自动丧失相应的认购权利。
(二)股票来源
本持股计划股票来源为公司回购专用账户回购的洋河股份 A 股普通股股票。
公司于2019年10月29日召开的第六届董事会第九次会议审议通过了《关于回购部分社会公众股份的方案》,并于2019年11月05日披露了《回购报告书》(公告编号:2019-028)。公司拟使用自有资金以集中竞价交易方式回购公司股份,回购总额不低于人民币10亿元(含)且不超过人民币15亿元(含)。
2020年10月31日公司披露了《关于回购公司股份实施结果暨股份变动的公告》(公告编号:2020-037),截至2020年10月29日,公司通过回购专用证券账户以集中竞价交易方式累计回购公司股份9661310股,占公司总股本的0.64%,最高成交价为131.99元/股,最低成交价为80.37元/股,成交金额为1002128680.79元(含交易费用)。本次股份回购期限已届满,股份回购已实施完毕。
(三)规模
本持股计划持股规模不超过9661310股,约占本持股计划草案公告日公司股本总额1506988000股的0.64%。
本持股计划草案获得股东大会批准后,将通过非交易过户等法律法规允许的方式获得公司回购专用证券账户所持有的公司股票。
本持股计划具体持股数量以参与对象实际出资缴款情况确定。实施后,全部有效的持股计划所持有的股票总数累计不超过公司股本总额的10%,任一持有人持有的持股计划份额所对应的标的股票数量不超过公司股本总额的1%。
本持股计划持有的股票总数不包括持有人在公司首次公开发行股票上市前获
得的股份、通过二级市场自行购买的股份以及通过股权激励获得的股份。
(四)股票购买价格及合理性说明
1、本持股计划购买回购股份的价格为公司回购股份均价,为 103.73 元/股。
2、为了建立和完善劳动者与所有者的利益共享机制,实现公司、股东和核心骨干利益的结合,进一步建立健全公司长效激励机制,从而充分有效调动公司核心骨干的主动性、积极性和创造性,吸引和保留优秀管理人才和业务骨干,提高公司核心竞争能力,提高核心骨干的凝聚力,推动公司稳定、健康、长远发展。
在依法合规的基础上,以低于市价的购股价格实现对核心骨干的激励,可以充分调动核心骨干的积极性,真正提升核心骨干的工作热情和责任感,有效地统一核心骨干和公司及公司股东的利益。
在参考公司经营情况和行业发展情况的基础上,同时兼顾本持股计划需以合理的成本实现对参与人员合理的激励作用的目的。本持股计划购买回购股份的价格为公司回购股份均价,为 103.73 元/股。从激励性的角度来看,该定价具有合理性与科学性,且未损害公司及全体股东利益。
五、持股计划的存续期、锁定期
(一)持股计划的存续期
1、本持股计划的存续期为 36 个月,自本持股计划草案经公司股东大会审议通过且公司公告最后一笔标的股票过户至本持股计划名下之日起计算,本持股计划在存续期届满时如未展期则自行终止。
2、本持股计划的锁定期届满后,当持股计划所持有的股票全部转出且持股计划项下货币资产(如有)已全部清算、分配完毕后,本持股计划可提前终止。
3、本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售或过户至持股计划份额持有人,管理委员会委员超过半数以上同意并提交公司董事会审议通过后,本持股计划的存续期可以延长。
4、如因公司股票停牌或者敏感期较长等情况,导致本持股计划所持有的公司股票无法在存续期届满前全部变现的,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期限可以延长。
(二)持股计划的锁定期
1、本持股计划所获标的股票的锁定期为 24 个月,自公司公告最后一笔标的股票过户至当期持股计划名下之日起计算。标的股票权益待锁定期届满后,在满足相关考核条件的前提下由管理委员会根据本持股计划相关规定进行处置。
本持股计划所取得标的股票,因上市公司分配股票股利、资本公积转增等情形所衍生取得的股份 亦应遵守上述股份锁定安排。
2、本持股计划相关主体必须严格遵守市场交易规则,遵守信息敏感期不得买卖股票的规定,各方均不得利用持股计划进行内幕交易、市场操纵等证券欺诈行为。
上述敏感期是指:
(1)公司定期报告公告前 30 日内,因特殊原因推迟公告日期的,自原公告
日前 30 日起至最终公告日;
(2)公司业绩预告、业绩快报公告前 10 日内;
(3)自可能对公司股票交易价格产生重大影响的重大事项发生之日或在决策过程中,至依法披露后 2 个交易日内;
(4)证券交易所规定的其他期间。
(三)持股计划的业绩考核
持有人的标的股票权益将自本持股计划草案经公司股东大会审议通过,且公司公告最后一笔标的股票过户至本持股计划名下之日起的 24 个月后,依据业绩考核结果分配至持有人。公司业绩考核要求如下:2021 年营业收入较 2020 年增长不低于 15%且 2022 年营业收入较 2021 年增长不低于 15%(以会计师审计结果为准)。
若本持股计划项下的公司业绩考核指标未达成,本持股计划持有的全部标的股票权益由管理委员会收回,在锁定期届满后择机出售,并以出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益归公司享有。
六、存续期内公司融资时持股计划的参与方式
本持股计划存续期内,公司以配股、增发、可转债等方式融资时,由管理委员会确定是否参与以及资金解决方案,并提交持有人会议审议。
七、公司与持有人的权利和义务
(一)公司的权利和义务
1、公司的权利
(1)按照本持股计划草案“十、持股计划的变更、终止及持有人权益的处置”相关规定对持有人权益进行处置;
(2)若本持股计划项下的公司业绩考核指标未达成,本持股计划持有的全
部标的股票权益由管理委员会收回,在锁定期届满后择机出售,并以出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益归公司享有。
(3)法律、行政法规及本持股计划规定的其他权利。
2、公司的义务
(1)真实、准确、完整、及时地履行关于本持股计划的信息披露义务;
(2)根据相关法规配合本持股计划管理委员会为本持股计划开立及注销证券交易账户等;
(3)法律、行政法规及本持股计划规定的其他义务。
(二)持有人的权利和义务
1、持有人的权利
(1)依照其持有的本持股计划份额享有本持股计划资产的权益;
(2)参加或委派其代理人参加持有人会议,并行使相应的表决权;
(3)对本持股计划的管理进行监督,提出建议或质询;
(4)法律、行政法规、部门规章或本持股计划规定的其他权利。
2、持有人的义务
(1)遵守法律、行政法规、部门规章和本持股计划的相关规定;
(2)依照其所认购的本持股计划份额和方式缴纳认购资金;
(3)依照其所持有的本持股计划份额承担本持股计划的投资风险;
(4)遵守持股计划管理办法;
(5)本持股计划存续期内,持有人所持本计划份额不得自行转让、退出、用于担保、偿还债务或作其他类似处置;
(6)在本持股计划存续期间内,不得私自要求分配本计划资产;
(7)法律、行政法规及本持股计划规定的其他义务。
八、持股计划的管理机构及管理模式
本持股计划设立后将自行管理,内部最高管理权力机构为持有人会议。持有人会议由本持股计划全体持有人组成,持有人会议选举产生管理委员会,并授权管理委员会作为管理方,负责开立持股计划相关账户、负责本持股计划的日常管理事宜(包括但不限于在锁定期届满后减持本持股计划所持有的公司股票、代表本持股计划向持有人分配收益和现金资产等)、代表持股计划持有人行使股东权利等。公司董事会负责拟定和修改本持股计划,并在股东大会授权范围内办理本持股计划的其他相关事宜。
(一)持有人会议
1、持有人会议是持股计划的内部最高管理权力机构。所有持有人均有权利参加持有人会议。持有人可以亲自出席持有人会议并表决,也可以委托代理人代为出席并表决。持有人及其代理人出席持有人会议的差旅费用、食宿费用等,均由持有人自行承担。
2、以下事项需要召开持有人会议进行审议:
(1)选举、罢免管理委员会委员;
(2)持股计划存续期内,公司以配股、增发、可转债等方式融资时,由管
理委员会商议参与融资的具体方案,并提交持有人会议审议;
(3)修订持股计划管理办法;
(4)授权管理委员会监督或负责持股计划的日常管理;
(5)授权管理委员会行使股东权利;
(6)其他管理委员会认为需要召开持有人会议审议的事项。
3、首次持有人会议由公司董事会秘书或指定人员负责召集和主持,其后持有人会议由管理委员会负责召集,由管理委员会主任主持。管理委员会主任不能履行职务时,由其指派一名管理委员会委员负责主持。
4、召开持有人会议,管理委员会应提前 5 日将书面会议通知,通过直接送达、邮寄、传真、电子邮件、协同办公系统或者其他方式,提交给全体持有人。
书面会议通知应当至少包括以下内容:
(1)会议的时间、地点;
(2)会议的召开方式;
(3)拟审议的事项(会议提案);
(4)会议召集人和主持人、临时会议的提议人及其书面提议;
(5)会议表决所必需的会议材料;
(6)持有人应当亲自出席或者委托其他持有人代为出席会议;
(7)联系人和联系方式;
(8)发出通知的日期。
如遇紧急情况,可以通过口头方式通知持有人随时召开持有人会议。口头方式通知至少应包括上述第(1)、(2)项内容以及因情况紧急需要尽快召开持有人会议的说明。
持有人会议可以通过电话会议、视频会议或类似的通讯工具召开,只要参加会议的所有持有人能够听到并彼此交流,所有通过该等方式参加会议的持有人应视为亲自出席会议。
5、持有人会议的表决程序
(1)每项提案经过充分讨论后,主持人应当适时提请与会持有人进行表决。
主持人也可决定在会议全部提案讨论完毕后一并提请与会持有人进行表决,表决方式为书面表决。
(2)本持股计划的持有人按其持有的份额享有表决权。
(3)持有人的表决意向分为同意、反对和弃权。与会持有人应当从上述意
向中选择其一,未做选择或者同时选择两个以上意向的,视为弃权;中途离开会场不回而未做选择的,视为弃权;未填、错填、字迹无法辨认的表决票或未投的表决票均视为弃权。持有人在会议主持人宣布表决结果后或者规定的表决时限结束后进行表决的,其表决情况不予统计。
(4)会议主持人应当当场宣布现场表决统计结果。每项议案如经出席持有人会议的持有人所持 1/2以上份额同意后则视为表决通过(本持股计划规定需 2/3以上份额同意的除外),形成持有人会议的有效决议。
(5)持有人会议决议需报公司董事会、股东大会审议的,须按照《公司章程》的规定提交公司董事会、股东大会审议。
(6)会议主持人负责安排人员对持有人会议做好记录。
6、单独或合计持有持股计划 30%以上份额的持有人可以向持有人会议提交临时提案,临时提案须在持有人会议召开前 3 日向管理委员会提交。
7、单独或合计持有持股计划 30%以上份额的持有人可以提议召开持有人会议。
(二)管理委员会
1、本持股计划设管理委员会,监督或负责本持股计划的日常管理,对持股计划负责。
2、管理委员会由 5 名委员组成,设管理委员会主任 1 人。管理委员会委员均由持有人会议选举产生。管理委员会主任由管理委员会以全体委员的过半数选举产生。管理委员会委员的任期为持股计划的存续期。
3、管理委员会委员应当遵守法律、行政法规和持股计划管理办法的规定,对持股计划负有下列忠实义务:
(1)不得利用职权收受贿赂或者其他非法收入,不得侵占持股计划的财产;
(2)不得挪用持股计划资金;
(3)未经持有人会议同意,不得将持股计划资产或者资金以其个人名义或者其他个人名义开立账户存储;
(4)未经持有人会议同意,不得将持股计划资金借贷给他人或者以持股计划财产为他人提供担保;
(5)不得利用其职权损害持股计划利益;
(6)不得擅自披露与持股计划相关的商业秘密。
管理委员会委员违反忠实义务给持股计划造成损失的,应当承担赔偿责任。
4、管理委员会行使以下职责:
(1)负责召集持有人会议;
(2)代表全体持有人监督或负责持股计划的日常管理;
(3)代表全体持有人行使持股计划所持有股份的股东权利或者授权资产管理机构行使股东权利;
(4)审议持股计划的变更、终止、存续期的延长;
(5)决策是否聘请相关专业机构为持股计划日常管理提供管理、咨询等服务;
(6)代表持股计划对外签署相关协议、合同;
(7)按照本持股计划“十、持股计划的变更、终止及持有人权益的处置”相关规定对持有人权益进行处置;
(8)决策持股计划弃购份额、被强制收回份额或权益的归属;
(9)管理持股计划利益分配,在持股计划锁定期届满后,决定标的股票出售及分配等相关事宜;
(10)办理持股计划份额登记、继承登记;
(11)负责持股计划的减持安排;
(12)持有人会议授权的其他职责。
5、管理委员会主任行使下列职权:
(1)主持持有人会议和召集、主持管理委员会会议;
(2)经管理委员会授权,代表全体持有人行使股东权利;
(3)督促、检查持有人会议、管理委员会决议的执行;
(4)代表持股计划对外签署相关协议、合同;
(5)管理委员会授予的其他职权。
6、管理委员会不定期召开会议,由管理委员会主任召集,于会议召开 3 日前通知全体管理委员会委员,全体管理委员会委员对表决事项一致同意的可以以通讯方式召开和表决。
经管理委员会各委员同意,可豁免上述通知时限。情况紧急,需要尽快召开管理委员会紧急会议的,可以随时通过电话或者其他口头方式发出会议通知,但召集人应当在会议上作出说明。
7、管理委员会会议应有过半数的管理委员会委员出席方可举行。管理委员会作出决议,必须经全体管理委员会委员的过半数通过。管理委员会决议的表决,实行一人一票。
8、管理委员会决议表决方式为记名投票表决。管理委员会会议在保障管理委员会委员充分表达意见的前提下,可以用传真等方式进行投票并作出决议,由参会管理委员会委员签字确认。
9、管理委员会会议,应由管理委员会委员本人出席;管理委员会委员因故不能出席的,可以书面委托其他管理委员会委员代为出席,委托书中应载明代理人的姓名、代理事项、授权范围和有效期限,并由委托人签名或盖章。代为出席会议的管理委员会委员应当在授权范围内行使管理委员会委员的权利。管理委员会委员未出席管理委员会会议,亦未委托代表出席的,视为放弃在该次会议上的投票权。
10、管理委员会应当对会议所议事项的决定形成会议记录,出席会议的管理委员会委员应当在会议记录上签名。
11、管理委员会会议记录包括以下内容:
(1)会议召开的日期、地点和召集人姓名;
(2)出席管理委员会委员的姓名以及受他人委托出席管理委员会的管理委
员会委员(代理人)姓名;
(3)会议议程;
(4)管理委员会委员发言要点;
(5)每一决议事项的表决方式和结果(表决结果应载明赞成、反对或弃权的票数)。
九、持股计划的资产构成及权益分配
(一)持股计划的资产构成
1、公司股票对应的权益;
2、现金存款和银行利息;
3、持股计划其他投资所形成的资产。
本持股计划的资产独立于公司的固定资产,公司不得将本持股计划资产委托归入其固有财产。因本持股计划的管理、运用或者其他情形而取得的财产和收益归入本持股计划资产。
(二)持股计划的权益分配
1、在本持股计划存续期内,除法律、行政法规、部门规章另有规定,或经管理委员会同意,持有人所持本持股计划份额不得转让、担保或作其他类似处置。
2、在存续期之内,持有人不得私自要求对本持股计划的权益进行分配;
3、在锁定期内,公司发生资本公积转增股本、派送股票红利时,本持股计划因持有公司股份而新取得的股份一并锁定,不得在二级市场出售或以其他方式转让,该等股票的解锁期与相对应股票相同。
锁定期届满后,由管理委员会陆续变现持股计划资产,并按持有人所持份额的比例,分配给持有人;或者由管理委员会向证券登记结算机构提出申请,根据相关法律法规的要求,按持有人所持份额的比例,将标的股票过户至持有人个人账户,由个人自行处置。如受法律法规限制无法过户至个人账户的,由管理委员会统一变现该部分资产,并按持有人所持份额的比例,分配给持有人。如存在剩余未分配标的股票及其对应的分红(如有),由持股计划管理委员会在该期持股计划存续期届满前按持有人所持份额的比例进行分配。
4、当本持股计划存续期届满或拟提前终止时,由管理委员会根据持有人会议的授权在届满或终止之日起 30 个工作日内完成清算,并按持有人持有的份额进行分配。
十、持股计划的变更、终止及持有人权益的处置
(一)公司发生实际控制权变更、合并、分立
若公司实际控制权发生变更,或发生合并、分立等情形,公司董事会将在情形发生之日起 5 个交易日内决定是否终止实施本持股计划。
(二)持股计划的变更存续期内,本持股计划的变更须经管理委员会委员超过半数以上同意,并提交公司董事会审议通过。
(三)持股计划的终止
1、本持股计划在存续期届满后自行终止;
2、本持股计划的锁定期届满后,当持股计划所持有的股票全部转出且持股计划项下货币资产(如有)已全部清算、分配完毕后,本持股计划可提前终止;
3、本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售或过户至持股计划份额持有人,经管理委员会委员超过半数以上同意并提交公司董事会审议通过,本持股计划的存续期可以延长;
4、如因公司股票停牌或者敏感期较长等情况,导致本持股计划所持有的公司股票无法在存续期届满前全部变现的,经管理委员会委员超过半数以上同意并提交公司董事会审议通过后,持股计划的存续期可以延长。
(四)持有人权益的处置
1、存续期内,持有人所持有的持股计划权益不得自行退出,不得用于抵押、质押、担保、偿还债务或作其他类似处理。
2、存续期内,持有人所持有的持股计划权益未经管理委员会同意不得转让,未经同意擅自转让的,该转让行为无效。
3、发生如下情形之一的,持有人所持有的权益不发生变更:
(1)持有人发生职务变更,但仍在公司或全资子公司任职的;
(2)持有人退休的;
(3)持有人丧失劳动能力而离职的;
(4)持有人身故的,其持有的权益由其指定的继承人或法定继承人代为持有;
(5)管理委员会认定的其他情形。
4、发生如下情形之一的,管理委员会有权取消该持有人参与本持股计划的资格,并将其持有的本持股计划未分配权益强制收回,由管理委员会择机出售,按照出资金额与售出金额(扣除相关费用后)孰低的原则返还持有人,剩余收益(如有)由参与本持股计划的其余持有人按出资比例共同享有;
(1)持有人合同到期不再续约或主动辞职的;
(2)未经公司同意,以出资(包括间接持股或委托持股)、担任职务、从
事工作等任何方式自营或者同他人合作经营与公司及子公司相同、相类似的竞争业务的;
(3)有弄虚作假、受贿、索贿、职务侵占、盗窃、泄露公司机密等行为被公司开除的;
(4)管理委员会认定的其他情形。
如发生其他未约定事项,持有人所持的持股计划份额的处置方式由公司与管理委员会协商确定。
十一、持股计划存续期届满后股份的处置办法
(一)若本持股计划所持有的公司股票全部出售或过户至持股计划份额持有人,且持股计划资产依照本持股计划规定清算、分配完毕的,本持股计划即可终止。
(二)本持股计划的存续期届满前 1 个月,如持有的公司股票仍未全部出售
或过户至持股计划份额持有人,经管理委员会委员超过半数以上同意并提交公司董事会审议通过,本持股计划的存续期可以延长。
(三)本持股计划拟提前终止或存续期届满后,由管理委员会根据持有人会
议的授权对持股计划资产进行清算,在终止或存续期届满后 30 个工作日内完成清算,并按照持有人所持份额进行分配。
(四)本持股计划存续期届满后,若持股计划所持资产仍包含标的股票的,由管理委员会确定处置办法。
十二、持股计划的会计处理
按照《企业会计准则第 11 号——股份支付》的规定:完成等待期内的服务或达到规定业绩条件才可行权的换取职工服务的以权益结算的股份支付,在等待期内的每个资产负债表日,应当以对可行权权益工具数量的最佳估计为基础,按照权益工具授予日的公允价值,将当期取得的服务计入相关成本或费用和资本公积。
本次持股计划的受让价格依据公司回购股份的成本价格进行定价,如产生股份支付费用将计入成本费用,影响公司经营业绩,对公司经营业绩的最终影响以会计师所出的审计报告为准。
十三、关联关系和一致行动关系说明
本持股计划与公司控股股东、实际控制人、董事、监事、高级管理人员之间不构成《上市公司收购管理办法》规定的一致行动关系,具体如下:
(一)公司控股股东、实际控制人未参加本次持股计划,本次持股计划未与
公司控股股东、实际控制人签署一致行动协议或存在一致行动安排。
(二)公司部分董事、监事及高级管理人员持有本次持股计划份额,本次持
股计划持有人之间无关联关系,均未签署《一致行动协议》或存在一致行动的相关安排;持有人会议为本次持股计划的最高权利机构,持有人会议选举产生管理委员会,监督或负责持股计划的日常管理。本持股计划持有人放弃因参与本持股计划而间接持有公司股票的表决权,任意单一持有人均无法对持有人会议及管理委员会决策产生重大影响。
(三)在公司股东大会及董事会、监事会审议与本次持股计划相关事项时,相关股东、董事、监事均将回避表决。
江苏洋河酒厂股份有限公司董事会
2021 年 7 月 15 日

洋河股份:2020年年度权益分派实施公告
深圳证券交易所 2021-07-03 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021- 025江苏洋河酒厂股份有限公司
2020年年度权益分派实施公告
本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
特别提示:
江苏洋河酒厂股份有限公司 2020年度股东大会审议通过的权益分派方案为:以实施利润分配方案时股权登记日的总股本(不含公司回购专用证券账户中持有的回购股份)为基数,用未分配利润向全体股东每 10 股派发现金红利人民币 30 元(含税),不送红股、不转增股本。根据《深圳证券交易所上市公司回购股份实施细则》等有关规定,上市公司回购专用证券账户中的股份不享有利润分配、公积金转增股本等权利。公司回购专用证券账户中持有公司股票 9661310 股,实际参与分配的股本为 1497326690 股。
公司本次现金分红总额=实际参与分配的股本×每股派现金额(含税),即4491980070元=1497326690 股×3.00元/股。
本次权益分派实施后,根据股票市值不变原则,实施权益分派前后公司总股本保持不变,现金分红总额分摊到每一股的比例将减小。因此,本次权益分派实施后除权除息价格计算时,每股现金红利 =本次现金分红总额÷公司总股本 =4491980070 元÷1506988000 股=2.9807669 元/股。在保证本次权益分派方案不变的前提下,公司 2020年年度权益分派实施后的除权除息价格按照上述原则及计算方式执行,即本次权益分派实施后的除权除息价格=股权登记日收盘价-2.9807669元/股。
江苏洋河酒厂股份有限公司(以下简称“公司”)2020 年年度权益分派方案,已获 2021 年 5 月 27日召开的公司 2020年度股东大会审议通过,现将权益分派事宜公告如下:
一、股东大会审议通过权益分派方案情况1、公司 2020 年度股东大会审议通过的权益分派方案为:以实施利润分配方案时股权登记日的总股本(不含公司回购专用证券账户中持有的回购股份)为基数,用未分配利润向全体股东每 10 股派发现金红利人民币 30 元(含税),不送红股、不转增股本。
2、自公司 2020 年年度权益分派方案披露至实施期间,公司股本总额未发生变化。
3、本次实施的分配方案与股东大会审议通过的分配方案及其调整原则一致。若公司股本总额在本次权益分派实施前发生变化,公司将按照每股分配比例不变的原则实施本次权益分派方案。
4、本次实施的分配方案距离股东大会审议通过的时间未超过两个月。
二、本次实施的权益分派方案公司 2020 年年度权益分派方案为:以公司现有总股本剔除已回购股份 9661310.00 股后的 1497326690.00 股为基数,向全体股东每 10股派 30.000000 元人民币现金(含税;扣税后,通过深股通持有股份的香港市场投资者、QFII、RQFII 以及持有首发前限售股的个人和证券投资基金每 10股派 27.000000元;持有首发后限售股、股权激励限售股及无限售流通股的个人股息红利税实行差别化税率征收,本公司暂不扣缴个人所得税,待个人转让股票时,根据其持股期限计算应纳税额【注】;
持有首发后限售股、股权激励限售股及无限售流通股的证券投资基金所涉红利税,对香港投资者持有基金份额部分按 10%征收,对内地投资者持有基金份额部分实行差别化税率征收)。
【注:根据先进先出的原则,以投资者证券账户为单位计算持股期限,持股 1 个月(含 1 个月)以内,每 10 股补缴税款 6.000000 元;持股 1 个月以上至 1 年(含 1 年)的,每 10 股补缴税款 3.000000 元;持股超过 1年的,不需补缴税款。】三、股权登记日与除权除息日本次权益分派股权登记日为:2021年 7月 8 日,除权除息日为:2021年 7 月 9日。
四、权益分派对象本次分派对象为:截止 2021年 7月 8日下午深圳证券交易所收市后,在中国证券登记结算有限责任公司深圳分公司(以下简称“中国结算深圳分公司”)登记在册的本公司全体股东。
五、权益分派方法1、本公司此次委托中国结算深圳分公司代派的 A 股股东现金红利将于 2021 年 7 月 9 日通过股东托管证券公司(或其他托管机构)直接划入其资金账户。
2、以下 A 股股东的现金红利由本公司自行派发:
序号 股东账号 股东名称
1 08*****007 江苏洋河集团有限公司
2 08*****013 江苏蓝色同盟股份有限公司
3 08*****552 上海海烟物流发展有限公司
4 08*****330 上海捷强烟草糖酒(集团)有限公司
5 01*****723 周新虎在权益分派业务申请期间(申请日:2021年 6月 29日至登记日:2021年 7 月 8日),如因自派股东证券账户内股份减少而导致委托中国结算深圳分公司代派的现金红利不足的,一切法律责任与后果由我公司自行承担。
六、除权除息价的计算原则及方式鉴于公司回购专用证券账户中持有的股份不参与公司 2020 年年度权益分派,公司本次现金分红总额=实际参与分配的股本×每股派现金额(含税),即 4491980070 元=1497326690 股×3.00 元/股。
本次权益分派实施后,根据股票市值不变原则,实施权益分派前后公司总股本保持不变,现金分红总额分摊到每一股的比例将减小。因此,本次权益分派实施后除权除息价格计算时,每股现金红利=本次现金分红总额÷公司总股本= 4491980070 元÷1506988000 股=2.9807669
元/股(计算结果不四舍五入)。
综上,在保证本次权益分派方案不变的前提下,公司 2020 年年度权益分派实施后的除权除息价格按照上述原则及计算方式执行,即本次权益分派实施后的除权除息价格=股权登记日收盘价-2.9807669 元/股。
七、咨询机构咨询地址:江苏洋河酒厂股份有限公司证券部咨询联系人:张庆芹咨询电话:025-52489218传真电话:025-52489218八、备查文件1、公司 2020 年度股东大会决议;
2、公司第七届董事会第二次会议决议;
3、中国结算深圳分公司确认有关公司分红派息具体时间安排的文件。
特此公告。
江苏洋河酒厂股份有限公司董事会
2021 年 7月 3 日

洋河股份:关于关联方上海海烟物流发展有限公司经营数据的公告
深圳证券交易所 2021-06-02 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021-024江苏洋河酒厂股份有限公司
关于关联方上海海烟物流发展有限公司经营数据的公告
本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
为推进公司上海及周边地区的业务拓展,公司与大股东上海海烟物流发展有限公司(以下简称“海烟物流”)发生了日常关联交易,涉及向关联人销售商品。具体情况详见公司于 2021 年 4 月 29 日在《证券时报》、《上海证券报》、《中国证券报》、《证券日报》和“巨潮资讯网”(www.cninfo.com.cn)披露的《关于确认 2020 年度日常关联交易及预计 2021 年度日常关联交易的公告》(公告编号:2021-017)。
海烟物流主要经营数据详见下表:
单位:万元2020 年 2021 年 1-3 月
营业收入 759411.21 278074.61
净利润 58345.79 7554.99
2020 年末 2021 年 3 月末
总资产 3792079.37 3822897.69
净资产 2911271.64 2918826.62
2020 年相关财务数据已经审计,2021 年 1-3 月相关财务数据未经审计。
特此公告。
江苏洋河酒厂股份有限公司董事会2021年6月2日

洋河股份:2020年度股东大会决议公告
深圳证券交易所 2021-05-28 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021-023江苏洋河酒厂股份有限公司
2020年度股东大会决议公告
本公司及董事会全体成员保证信息披露的内容真实、准确、完整,没有虚假记载、误导性陈述或重大遗漏。
特别提示:
1、本次股东大会未出现否决提案的情形。
2、本次股东大会未涉及变更以往股东大会已通过的决议。
一、会议召开和出席情况1、江苏洋河酒厂股份有限公司(以下简称“公司”)2020年度股东大会采用现场投票和网络投票相结合的方式召开。现场会议于2021年5月27日上午9:00在江苏省宿迁市洋河新区酒都大道118号公司总部办公
楼一楼多功能厅召开 网络投票时间为2021年5月27日,其中通过深圳证券交易所交易系统投票的具体时间为:2021年5月27日上午9:15-9:25,9:30-11:30,下午13:00-15:00;通过深圳证券交易所互联网投票系统投
票的具体时间为:2021年5月27日上午9:15至下午15:00期间的任意时间。
本次会议由公司董事会召集,现场会议由公司董事长张联东先生主持。
本次会议的召开符合《中华人民共和国公司法》、《深圳证券交易所股票上市规则》、《上市公司股东大会规则》等有关法律法规、部门规章、规范性文件及《公司章程》的规定。
2、现场出席本次股东大会的股东及股东代表 65 人,代表股份1027268786 股,占公司有表决权股份总数的 68.61%;通过网络投票的股东 378 人,代表股份 129260441 股,占公司有表决权股份总数的8.63%。
出席本次股东大会的股东及股东代表共计 443 人,代表股份1156529227 股,占公司有表决权股份总数的 77.24%。其中,参与本次会议的中小投资者(上市公司董事、监事、高级管理人员以及单独或合计持有公司 5%以上股份的股东以外的其他股东)共 438 人,代表股份195713643 股,占公司有表决权股份总数的 13.07%。
3、公司董事、监事、高级管理人员出席了会议。国浩律师(南京)事务所指派朱东律师、杨珂伟律师出席本次股东大会,对大会进行见证并出具法律意见书。
二、提案审议表决情况本次股东大会采用现场记名投票和网络投票相结合的方式,审议通过了如下决议:
1.00《2020 年度董事会工作报告》
该议案表决结果:同意票 1156387827 股,占出席会议有效表决权股份总数的 99.9878%;反对票 105800 股,占出席会议有效表决权股份总数的 0.0091%;弃权票 35600 股,占出席会议有效表决权股份总数的 0.0031%。
2.00《2020 年度监事会工作报告》
该议案表决结果:同意票 1156387827 股,占出席会议有效表决权股份总数的 99.9878%;反对票 105800 股,占出席会议有效表决权股份总数的 0.0091%;弃权票 35600 股,占出席会议有效表决权股份总数的0.0031%。
3.00《2020 年年度报告及摘要》
该议案表决结果:同意票 1156387827 股,占出席会议有效表决权股份总数的 99.9878%;反对票 105800 股,占出席会议有效表决权股份总数的 0.0091%;弃权票 35600 股,占出席会议有效表决权股份总数的0.0031%。
4.00《2020 年度财务决算报告》
该议案表决结果:同意票 1156387827 股,占出席会议有效表决权股份总数的 99.9878%;反对票 105800 股,占出席会议有效表决权股份总数的 0.0091%;弃权票 35600 股,占出席会议有效表决权股份总数的 0.0031%。
5.00《关于公司 2020 年度利润分配的议案》
该议案表决结果:同意票 1156302572 股,占出席会议有效表决权股份总数的 99.9804%;反对票 226655 股,占出席会议有效表决权股份总数的 0.0196%;弃权票 0 股,占出席会议有效表决权股份总数的 0%。
其中,中小投资者表决情况为:同意票 195486988 股,占出席会议的中小投资者所持有效表决权股份总数的 99.8842%;反对票 226655股,占出席会议的中小投资者所持有效表决权股份总数的 0.1158%;弃权票 0 股,占出席会议的中小投资者所持有效表决权股份总数的 0%。
6.00《关于续聘苏亚金诚会计师事务所(特殊普通合伙)为公司 2021年度审计机构的议案》
该议案表决结果:同意票 1150941097 股,占出席会议有效表决权股份总数的 99.5168%;反对票 5552530 股,占出席会议有效表决权股份总数的 0.4801%;弃权票 35600 股,占出席会议有效表决权股份总数的 0.0031%。
其中,中小投资者表决情况为:同意票 190125513 股,占出席会议的中小投资者所持有效表决权股份总数的 97.1447%;反对票
5552530 股,占出席会议的中小投资者所持有效表决权股份总数的2.8371%;弃权票 35600 股,占出席会议的中小投资者所持有效表决权股份总数的 0.0182%。
7.00《关于授权公司管理层使用自有资金择机购买理财产品的议案》
该议案表决结果:同意票 1136893231 股,占出席会议有效表决权股份总数的 98.3022%;反对票 19629996 股,占出席会议有效表决权股份总数的 1.6973%;弃权票 6000 股,占出席会议有效表决权股份总数的 0.0005%。
其中,中小投资者表决情况为:同意票 176077647 股,占出席会议的中小投资者所持有效表决权股份总数的 89.9670%;反对票
19629996 股,占出席会议的中小投资者所持有效表决权股份总数的10.0300%;弃权票 6000 股,占出席会议的中小投资者所持有效表决权股份总数的 0.0030%。
8.00《关于调整独立董事津贴的议案》
该议案表决结果:同意票 1156492127 股,占出席会议有效表决权股份总数的 99.9968%;反对票 22700 股,占出席会议有效表决权股份总数的 0.0020%;弃权票 14400 股,占出席会议有效表决权股份总数的 0.0012%。
其中,中小投资者表决情况为:同意票 195676543 股,占出席会议的中小投资者所持有效表决权股份总数的 99.9810%;反对票 22700股,占出席会议的中小投资者所持有效表决权股份总数的 0.0116%;弃权票 14400 股,占出席会议的中小投资者所持有效表决权股份总数的0.0074%。
三、律师出具的法律意见本次股东大会经国浩律师(南京)事务所朱东律师、杨珂伟律师现场见证,并出具了《法律意见书》,认为公司本次股东大会的召集、召开程序、出席股东大会人员的资格以及会议表决程序等事项符合法律、法规、规范性文件以及《公司章程》的有关规定。本次会议形成的股东大会决议合法、有效。
四、备查文件1、江苏洋河酒厂股份有限公司 2020 年度股东大会决议;
2、国浩律师(南京)事务所对本次股东大会出具的《法律意见书》。
特此公告。
江苏洋河酒厂股份有限公司董事会
2021 年 5 月 28 日

洋河股份:2020年度股东大会的法律意见书
深圳证券交易所 2021-05-28 08:00 | 下载

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2020 年度股东大会的法律意见书
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国浩律师(南京)事务所 法律意见书
国浩律师(南京)事务所关于江苏洋河酒厂股份有限公司
2020 年度股东大会的法律意见书
致:江苏洋河酒厂股份有限公司国浩律师(南京)事务所(以下称“本所”)接受江苏洋河酒厂股份有限公司(以下称“公司”)之委托,指派从事证券法律业务的律师出席公司 2020 年度股东大会,并出具法律意见。本所律师审查了公司提供的相关文件,并进行了必要的验证,根据《中华人民共和国公司法》、《中华人民共和国证券法》等相关法律、法规、规范性文件及《江苏洋河酒厂股份有限公司章程》(以下称“《公司章程》”)的规定,现对本次股东大会召集、召开程序、出席人员资格、表决程序、结果等相关事项发表法律意见如下:
一、关于股东大会的召集、召开程序本次股东大会由公司董事会召集,由董事长张联东先生主持。公司已于 2021年 4 月 29 日在巨潮资讯网站公告了《江苏洋河酒厂股份有限公司关于召开 2020年度股东大会的通知》。通知中明确了股权登记日公司登记在册的所有股东均有权参加会议,通知内容包括了会议议题、时间、地点以及参加会议须出示、提交的文件等。
公司本次股东大会采取现场投票和网络投票相结合的方式进行。现场会议于2021 年 5 月 27 日上午 9:00 在江苏省宿迁市洋河新区酒都大道 118 号公司总部办
公楼一楼多功能厅召开。网络投票时间:通过深圳证券交易所交易系统进行网络投票的具体时间为:2021 年5 月 27 日上午 9:15- 9:25,9:30-11:30,下午 13:00-15:00。
通过深圳证券交易所互联网投票系统投票的具体时间为:2021 年 5 月 27 日上午9:15 至下午 15:00 期间的任意时间。
国浩律师(南京)事务所 法律意见书
经本所律师核查,本次股东大会召集、召开的程序符合有关法律、法规、规范性文件和《公司章程》的规定,会议召开的实际时间、地点、内容均与会议通知一致。
二、关于出席股东大会人员的资格现场出席本次股东大会的股东及股东代表 65 人,代表股份 1027268786股,占公司有表决权股份总数的 68.61%;通过网络投票的股东 378 人,代表股份 129260441 股,占公司有表决权股份总数的 8.63%。出席本次股东大会的股东及股东代表共计 443 人,代表股份 1156529227 股,占公司有表决权股份总数的 77.24%。其中,参与本次会议的中小投资者(上市公司董事、监事、高级管理人员以及单独或合计持有公司 5%以上股份的股东以外的其他股东)共 438人,代表股份 195713643 股,占公司有表决权股份总数的 13.07%。上述出席现场会议人士提交了证明其股东身份的合法文件,网络投票的股东由深圳证券信息有限公司按照深圳证券交易所有关规定进行了身份认证。
公司董事、监事及高级管理人员出席或列席了会议。
经本所律师核查,出席本次股东大会的人员资格符合法律、法规、规范性文件和《公司章程》的规定。
三、关于股东大会的表决程序和表决结果本次股东大会的表决采取现场投票和网络投票相结合方式进行,表决程序合法、有效。
1.《2020 年度董事会工作报告》
该议案表决结果:同意票 1156387827 股,占出席会议有效表决权股份总数的 99.9878%;反对票 105800股,占出席会议有效表决权股份总数的 0.0091%;
弃权票 35600 股,占出席会议有效表决权股份总数的 0.0031%。
2.《2020 年度监事会工作报告》
该议案表决结果:同意票 1156387827 股,占出席会议有效表决权股份总国浩律师(南京)事务所 法律意见书
数的 99.9878%;反对票 105800股,占出席会议有效表决权股份总数的 0.0091%;
弃权票 35600 股,占出席会议有效表决权股份总数的 0.0031%。
3.《2020 年年度报告及摘要》
该议案表决结果:同意票 1156387827 股,占出席会议有效表决权股份总数的 99.9878%;反对票 105800股,占出席会议有效表决权股份总数的 0.0091%;
弃权票 35600 股,占出席会议有效表决权股份总数的 0.0031%。
4.《2020 年度财务决算报告》
该议案表决结果:同意票 1156387827 股,占出席会议有效表决权股份总数的 99.9878%;反对票 105800 股,占出席会议有效表决权股份总数的0.0091%;弃权票 35600 股,占出席会议有效表决权股份总数的 0.0031%。
5.《关于公司 2020 年度利润分配的议案》
该议案表决结果:同意票 1156302572 股,占出席会议有效表决权股份总数的 99.9804%;反对票 226655股,占出席会议有效表决权股份总数的 0.0196%;
弃权票 0 股,占出席会议有效表决权股份总数的 0%。
其中,中小投资者表决情况为:同意票 195486988 股,占出席会议的中小投资者所持有效表决权股份总数的 99.8842%;反对票 226655 股,占出席会议的中小投资者所持有效表决权股份总数的 0.1158%;弃权票 0股,占出席会议的中小投资者所持有效表决权股份总数的 0%。
6.《关于续聘苏亚金诚会计师事务所(特殊普通合伙)为公司 2021 年度审计机构的议案》
该议案表决结果:同意票 1150941097 股,占出席会议有效表决权股份总数的 99.5168%;反对票 5552530股,占出席会议有效表决权股份总数的 0.4801%;
弃权票 35600 股,占出席会议有效表决权股份总数的 0.0031%。
其中,中小投资者表决情况为:同意票 190125513 股,占出席会议的中小投资者所持有效表决权股份总数的 97.1447%;反对票 5552530 股,占出席会议的中小投资者所持有效表决权股份总数的 2.8371%;弃权票 35600 股,占出席会国浩律师(南京)事务所 法律意见书
议的中小投资者所持有效表决权股份总数的 0.0182%。
7.《关于授权公司管理层使用自有资金择机购买理财产品的议案》
该议案表决结果:同意票 1136893231 股,占出席会议有效表决权股份总数的 98.3022%;反对票 19629996 股,占出席会议有效表决权股份总数的1.6973%;弃权票 6000 股,占出席会议有效表决权股份总数的 0.0005%。
其中,中小投资者表决情况为:同意票 176077647 股,占出席会议的中小投资者所持有效表决权股份总数的 89.9670%;反对票 19629996 股,占出席会议的中小投资者所持有效表决权股份总数的 10.0300%;弃权票 6000 股,占出席会议的中小投资者所持有效表决权股份总数的 0.0030%。
8.《关于调整独立董事津贴的议案》
该议案表决结果:同意票 1156492127 股,占出席会议有效表决权股份总数的 99.9968%;反对票 22700 股,占出席会议有效表决权股份总数的 0.0020%;
弃权票 14400 股,占出席会议有效表决权股份总数的 0.0012%。
其中,中小投资者表决情况为:同意票 195676543 股,占出席会议的中小投资者所持有效表决权股份总数的 99.9810%;反对票 22700 股,占出席会议的中小投资者所持有效表决权股份总数的 0.0116%;弃权票 14400 股,占出席会议的中小投资者所持有效表决权股份总数的 0.0074%。
经本所律师核查,公司本次股东大会表决程序符合法律、法规、规范性文件和《公司章程》的规定,表决结果合法有效。
四、结论综上所述,本所认为,公司本次股东大会的召集召开程序、召集人、出席会议人员资格、会议表决程序及表决结果等事项符合法律、法规、规范性文件以及《公司章程》的有关规定。
本次会议形成的股东大会决议合法、有效。
五、关于新议案的提出国浩律师(南京)事务所 法律意见书
本次股东大会上,监事会和股东没有提出会议通知中未列出的新提案。
六、其他本法律意见书经本所加盖印章及经办律师签署后生效。
本所同意将本法律意见书随公司本次股东大会决议按有关规定予以公告。非经本所同意不得用于其它任何目的。
(以下无正文)
国浩律师(南京)事务所 法律意见书签署页(本页无正文,为《国浩律师(南京)事务所关于江苏洋河酒厂股份有限公司 2020 年度股东大会的法律意见书》签署页)
本《法律意见书》于 2021 年 5 月 27 日出具,正本一式三份,无副本。
国浩律师(南京)事务所
负责人: 马国强 经办律师: 朱东___________________ ___________________杨珂伟
___________________

洋河股份:2020年年度报告(英文版)
深圳证券交易所 2021-05-19 08:00 | 下载

Jiangsu Yanghe Distillery Co. Ltd.
2020 Annual Report
April 2021
Section I Important Statements Contents and Definitions
The board of directors board of supervisors directors supervisors and senior management of Jiangsu
Yanghe Brewery Co. Ltd. (hereinafter referred to as the Company) hereby guarantee that the
information presented in this report is free of any false records misleading statements or material
omissions and shall individually and together be legally liable for truthfulness accuracy and
completeness of its contents.Mr. Zhang Liandong responsible person for the Company Mr. Yin Qiuming responsible person for
accounting affairs and Mr. Zhao Qike responsible person for accounting department (accounting
supervisor) have warranted that the financial statements in this report are true accurate and complete.
All directors attended the board meeting to review this report.
The future plans and some other forward-looking statements mentioned in this report shall not be
considered as virtual promises of the Company to investors. Investors and people concerned should
maintain adequate risk awareness and understand the difference between plans predictions and
promises. Investors are kindly reminded to pay attention to possible investment risks.In the annual report the possible risks in the operation of the Company are described in detail (see
9.Outlook for the future development of the Company in Section IV Performance Discussion and
Analysis). Investors are kindly reminded to pay attention to relevant content.
The profit distribution plan approved by the board of directors: based on total share capital participating
in the dividend on the registration date (excluding the repurchased shares held in the Company's
special repurchase securities account) when the profit distribution plan is implemented in the future a
cash dividend of CNY 30.00 (tax inclusive) will be distributed for every 10 existing shares held 0 shares
of bonus shares (tax inclusive) and reserves would not be converted into share capital.The Company’s Chinese 2020 Annual Report was publicly disclosed on the Shenzhen Stock Exchange
and www.cninfo.com.cn on 29 April 2021. If there are any differences between the English version and
the Chinese one please refer to the latter.
Contents
Section I Important Statements Contents and Definitions ........................ 2
Section II Company Profile and Key Financial Results ............................... 5
Section III Business Profile .............................................................................. 9
Section IV Performance Discussion and Analysis ..................................... 12
Section V Significant Events ......................................................................... 36
Section VI Changes in Shares and Information about Shareholders ..... 98
Section VII Information about Preference Shares ..................................... 106
Section VIIIInformation about Convertible Bonds .................................... 107
Section IX Profiles of Directors Supervisors Senior Management and
Employees ....................................................................................................... 108
Section X Corporate Governance ................................................................ 121
Section XI Information about Corporate Bond .......................................... 128
Section XII Financial Report.......................................................................... 129
Section XIII Documents Available for Reference ....................................... 257
Definitions
Term Reference Definition
The Company This Company Yanghe Refer to Jiangsu Yanghe Distillery Co. Ltd.Yanghe Group Controlling shareholder Refer to Jiangsu Yanghe Group Co.Ltd.The current year In the reporting period Refer to 1 Jan. 2020 to 31 Dec. 2020
The report Refer to 2020 Annual Report
Yuan Ten thousand yuan A hundred
million yuan
Refer to
CNY 0.00 CNY 10000.00CNY
100000000.00
The shareholders' meeting the board of
directors the board of supervisors
Refer to
The shareholders'meeting the board of
directors and the board of supervisors of
the Company
Articles of incorporation Refer to
Articles of incorporation of Jiangsu Yanghe
Distillery Co. Ltd.
SSE Refer to Shenzhen Stock Exchange
SRCCSRC Refer to China Securities Regulatory Commission
SAC of Suqian SASAC of Suqian Refer to
State-owned Assets Supervision and
Administration Commission of Suqian
Suya Jincheng Accounting firm Refer to Suya Jincheng CPA LLP
Blue Alliance Refer to Jiangsu Blue Alliance Co. Ltd.
Yanghe Branch of the Company Refer to
Jiangsu Yanghe Distillery Co. Ltd. Yanghe
Branch
Siyang Branch of the Company Refer to
Jiangsu Yanghe Distillery Co. Ltd. Siyang
Branch
Shuanggou Distillery Refer to
Jiangsu Shuanggou Distillery Stock
Co.Ltd.
Guijiu Company Refer to Guizhou Guijiu Co. Ltd.Lihuacun Distillery Refer to Hubei Lihuacun Distillery Co. Ltd.
Section II Company Profile and Key Financial Results
1. Corporate information
Stock abbreviation Yanghe Stock code 002304
Stock exchange where
the shares of the
Company are listed
Shenzhen Stock Exchange
Name of the Company
in Chinese江苏洋河酒厂股份有限公司
Abbr. of the Company
name in Chinese洋河股份
Name of the Company
in English (if any)
Jiangsu Yanghe Distillery Co. Ltd.
Abbr. of the Company
name in English (if any)
Yanghe
Legal representative Zhang Liandong
Registered address No.118 Middle Avenue Yanghe Town Suqian City Jiangsu Province China
Postal code of
registered address
223800
Business address No.118 Middle Avenue Yanghe Town Suqian City Jiangsu Province China
Postal code of business
address
223800
Company website http://www.chinayanghe.com
E-mail yanghe002304@vip.163.com
2. Contact us
Company secretary Representative for securities affairs
Name Lu Hongzhen Sun Dali
Address No. 18 Fenghui Avenue Yuhua Economic Development Zone Nanjing
Tel. 025-52489218
Fax 025-52489218
E-mail yanghe002304@vip.163.com
3. Information disclosure and place where the annual report is kept
Media designated by the Company for
information disclosure
Securities Times Shanghai Securities Times China Securit
ies Journal Securities Daily
Website designated by CSRC for the
publication of the Annual Report
http://www. cninfo.com.cn
Place where the Annual Report of the
Company is kept
Shareholder reading room the headquarters of the
Company Suqian City Jiangsu Province
4. Company registration and alteration
Organization code 9132000074557990XP
Changes in main business activities since
the Company was listed (if any)
None
Changes of controlling shareholders of the
Company (if any)
None
5. Other relevant information
Accounting firm engaged by the Company
Name of the accounting firm Suya Jincheng CPA LLP
Business address of the accounting firm
22-23/F. Central International Plaza No.105-6 North
Zhongshan Road Nanjing.Name of accountants for writing signature Li Laimin Li Yan
Sponsors engaged by the Company to continuously perform its supervisory function during the
reporting period
? Applicable √ N/A?
Financial adviser engaged by the Company to continuously perform its supervisory function during the
reporting period
? Applicable √ N/A?
6. Key accounting data and financial indicators
Whether the Company performed a retroactive adjustment or restatement of accounting data
? Yes √ No
2020 2019
YoY
Change
2018
Operating revenues (CNY) 21101051131.79 23126476885.07 -8.76% 24159801994.68
Net profits attributable to
shareholders of the Company
(CNY)
7482228633.63 7382822726.87 1.35% 8115189794.69
Net profits attributable to
shareholdersof the Company
before non-recurring gains and
losses (CNY)
5652068941.98 6555890029.81 -13.79% 7369331605.77
Net cash flows from operating
activities (CNY)
3978790835.80 6797891871.41 -41.47% 9056748816.28
Basic earnings per share
(CNY/share)
4.9843 4.8991 1.74% 5.3850
Diluted earnings per share
(CNY/share)
4.9843 4.8991 1.74% 5.3850
Weighted average ROE 20.20% 21.21% -1.01% 25.95%
At the end of 2020 At the end of 2019
YoY
Change
At the end of 2018
Total assets (CNY) 53866259306.59 53455037840.98 0.77% 49563767816.22
Net assets attributable to
shareholders of the Company
(CNY)
38484583983.54 36508835491.47 5.41% 33644530266.23
The Company's net profit before or after deducting non-recurring profits and losses in the last three
fiscal years is negative and the audit report of the last year shows that the Company's ability to
continue operating is uncertain
? Yes √ No
The net profit before or after deducting non-recurring profits and losses is negative
? Yes √ No
7. Differences in accounting data under domestic and overseas
accounting standards
7.1. Differences in the net profits and net assets disclosed in the financial reports
prepared under the international and China accounting standards
? Applicable √ N/A?
No such differences duringthisperiod.
7.2. Differences in the net profits and net assets disclosed in the financial reports
prepared under the outbound and China accounting standards
? Applicable √ N/A?
No such differences during thisperiod.
8. Key financial results by quarter
Unit: CNY
Q1 Q2 Q3 Q4
Operating revenues
9268167143.40 4160338695.33 5485125629.89 2187419663.17
Net profits attributable to
shareholders of the Company
4002168546.84 1398695739.33 1784839005.01 296525342.45
Net profits attributable to
shareholders of the Company
before deductingnon-recurring
profits and losses
3201845555.14 1064452695.12 1368107888.33 17662803.39
Net cash flows from operating
activities
-328870647.68 -2404512251.66 2289330408.21 4422843326.93
Whether there are any material differences between the financial indicators above or their summations
and those which have been disclosed in quarterly or semi-annual reports.? Yes √ No
9. Non-recurring profits and losses
√ Applicable ? N/A
Unit: CNY
Item 2020 2019 2018 Note
Profit or loss from disposal of non-current
assets (including the write-off portion of the
impairment provision)
-4735638.66 13797266.00 22203572.96
Item 2020 2019 2018 Note
Government grants recorded in the profit or
loss for the current period (except for the
government grants closely related to the
business of the Company and given at a fixed
amount or quantity in accordance with uniform
national standards)
98175595.19 85605383.19 59870221.67
Except for effective hedging business related
to normal business operations of the
Company investment income from holding
financial assets held for trading derivative
financial assets financial liabilities held for
trading derivative financial liabilities and
disposal of financial assets held for trading
derivative financial assets financial liabilities
held for trading derivative financial liabilities
and investment in other debt instruments.
2356818184.75 973456912.43 56995537.28
Impairment provision reversal of the accounts
receivables and contract assets on which the
impairment test is carried out individually
Other non-operating income and expenditure
except above-mentioned items
-11429697.22 12845147.02 27967026.98
Other profit and loss items that conform to the
definition of non-recurring profits and losses
818031.70 1670388.78 827837138.81
Less: Corporate income tax
609395883.18 260122467.95 248875376.58
Minority interests (after tax)
90900.93 319932.41 139932.20
Total
1830159691.65 826932697.06 745858188.92
--
Explain the reasons if the Company classifies an item as a non-recurring profit and loss according to
the definition in the Explanatory Announcement No. 1 on Information Disclosure for Listed Companies -
Non-recurring Profits and Losses or classifies any non-recurring profit or loss item mentioned in the
explanatory announcement as a recurring profit or loss item.
? Applicable √ N/A?
No such cases for the reporting period.
Section III Business Profile
1. Main business scope in the reporting period
The Company shall comply with the disclosure requirements of Shenzhen Stock Exchange Industry
Information Disclosure Guidelines No. 14 -Listed Companies Engaging in Food and Liquor
Manufacturing Related Businesses
The Company is mainly engaged in the production and sales of Chinese Baijiu. The production of Baijiu
adopts solid-state fermentation. The sales of Baijiu mainly adopt two models namely distribution and
online direct selling. During the reporting period the Company's primary business and business
modelsdid not changed. According to the Guidelines for the Industry Classification of Listed Companies
(2012 Revision) issued by CSRC the Company belongs to C15 Manufacturing industry of
liquorbeverages and refined tea.The Company is a national large-scale Baijiu production enterprise. Among the enterprises in the Baijiu
industry the Company is the only one which has two famous Chinese Baijiu namely Yanghe and
Shuanggou two Chinese time-honored brands and six Chinese well-known trademarks. The leading
products of the Company are a series of Baijiu including Dream Blue Sky Blue Ocean Blue Sujiu
Zhenbaofang Yanghe Daqu Shuanggou Daqu. They have high brand awareness and reputation
throughout the country.
During the reporting period the development of liquor industry kept growing in the fierce competition.
Premium and sub-premiumliquor both showed significant development advantages. The concentration
branding and premiumisation of the industry continued significantly. According to disclosed Baijiu
industry periodic reports the Company's operating revenue and profit remained in the third place in the
liquor industry.
2. Significant changes in the main assets
2.1 .Significant changes in the main assets
Main assets Reasons for any significant change
Cash and cash equivalents
An increase of 68.44% YoY was mainly due to the decrease in cash
paid for investment in the current period which led to an increase in
the net cash flow generated by investment activities.Prepayment
Andecrease of 95.32% YoY was mainly due to lower prepaid
advertising expenses at the end of the current period.
2.2 .Main assets overseas
? Applicable √ N/A
3. Analysis of core competitiveness
The Company has significant advantages in natural environment quality technology brand building
marketing network and so on. The Company has formed its unique core competitiveness which has not
changed during the reporting period.
3.1 Natural environment advantage
The Company is located in Suqian the capital of Baijiuwith 'three rivers two lakes and one wetland’. As
one of the three famous wetlands in the world Suqian enjoys equal popularity with the Scotch whisky
producing area and the French Cognac producing area. The long history and unique ecological
environment provide a good source of water soil and air for production for liquor production. Especially
the microorganism condition is significantly beneficial to production. The Yanghe distillerywas in the Sui
and Tang Dynasties flourished in the Ming and Qing Dynasties. It had been sold in Jianghuai area
during the period of Yong Zheng of Qing Dynasty. It has a good reputation that 'dainty taste derived
from fortune spring and liquor ocean which makes Yanghe rank first place in Jianghuai area'.Shuanggou alongside Yanghe has been praised as the origin of Chinese natural liquor by domestic and
overseas experts due to the discovery of drunken ape fossils in Xiacaowan.
3.2 Quality advantage
Considering the diversification and individuation of consumption demand the Company took the lead in
breaking the traditional classification of Baijiu flavor. The Company classifies Baijiubased on taste and
emphasizes the value of taste. The Company strengthens the mellowness of Baijiu puts forward the
new style of the mellow Baijiu quality and deeply meets core demand of target consumers. It has
successfully establishednew craftof mellow Baijiu production andsystem framework of mellowness
mechanism which caters to market consumption. In June 2008 'Mellowness' a special type of Yanghe
was first written into the national standard in China Protected Geographical Indication Product- Yanghe
Daqu (Standard No. GB/T220406-2008).
3.3 Technologyadvantage
The Company has 39Masters of Chinese Baijiu 69 provincial Baijiutasting committee members and
1854 technicians. The Company also has 10 national and provincial technical research and
development platforms. The obvious advantage of technical talents provides technical support for the
continuous improvement of mellow Baijiu quality. In the national liquor taster contest sponsored by
ChinaAlcoholic Drinks Association the Company is the only one that won three consecutive
championships among all contestants; In 2020 talents of theCompany won the top 4 in the 4th National
Liquor Tasting Professional Skills Competition and the project of "Research and Application of Key
Technology and Intelligent Production of Mellowness Flavor Brewing" won the first prize of "Food
Industry Science and Technology Award". It once again showed the Company’s great advantage of
talents and technology.
3.4 Brand advantage
The Company as one of the eight traditional well-known Baijiu enterprises is the only one which has
two famous Chinese Baijiu brands namely Yanghe and Shuanggou two Chinese time-honored brands
and six Chinese well-known trademarks including Yanghe Shuanggou Yanghe Spirit Classic
Zhenbaofang Dream Blue and Su. The brand value of the Company has been ranked the top 3 in the
National Light Industry List and has been listed in the "Global Top 500 Most Valuable Brands" and
"Top 100 Most Valuable Chinese Brands" for five consecutive years and ranked the third in the "2020Top 50Global Spirits Brand Value List”.
3.5 Marketing network advantage
The Company has a marketing team with strong executive force. The marketing network has
penetrated into every county and every city throughout the country. High speed channel has been
basically completed. These laid a solid foundation for market expansion and extension of the category
in the future. The Company obtained several honors such as model enterprise of industrial Internet
development in Jiangsu province Jiangsu Provincial Governor Quality Award and service-oriented
manufacturing enterprise in Jiangsu province. At the same time as a traditional enterprise the
Company has also insisted on exploring new marketing mode and has made some achievements in
Internet application innovation.
Section IV Performance Discussion and Analysis
1. Overview
2020 was a key year for the Company to deepen reforms adjustments and
transformation.Facing the impact of COVID-19 epidemic complex and ever-changing
macro environment and increasingly fierce industry competition the Company spared no
effort to cope with difficulties and challenges thoroughly implemented the overall work
strategy of "12633" focused on epidemic prevention and control on one hand and on
adjustments and transformation on the other hand and realized the stable development
in the complex internal and external environment.In 2020 the Company achieved
operating revenue of CNY 21.101 billion and net profit attributable to shareholders of the
listed company of CNY 7.482 billion.
First the Company deepened marketing transformation and accumulated potential
energy for development. The Company adhered to the problem-oriented thinking
deepened the implementation of transformation ideas further built a new relationship
between Yanghe and distributors with integration strategy and gradually optimized the
distribution of dealers with the aim of "one main distributor and multiple auxiliary
distributors". The Company implemented the strategy of Twin Famous Baijiu adjusted
the organizational structure equipped corresponding resources and further deepened
the operation of Shuanggou brand. It continuously improved the market service and
marketing management system oriented assessment price control group purchase
construction digital marketing and other measures. The Company's marketing potential
energy has been accumulated in the deep transformation and adjustment.Second the Company focused on quality breakthroughs and laid a solid foundation for
development. The Company adhered to the strategy that "quality is king" sublimated the
new connotation of "Fine Baijiu" with the consumer-orientation continuously optimized
the distilling process and further enhanced the aroma complex sense of raw liquor. It
focused on key topics and the Company successfully constructed the mode system of
"big base liquor combination" improved the elegance of aroma mellow taste and comfort
after drinking at multiple levels made more achievements in a number of scientific
research projects and continued to improve the quality of products through joint efforts.The crystal version of Dream Blue was launched gorgeously and the M6+ completed the
nationwide promotion and won the new liquor product award of "Green Drink Award".Third the Company improved brand value and enabled the development of power.Telling the brand story well through multiple channels and organizing cultural activities
such as Seal Ceremony and Toupai Baijiu Opening Cellar Festival presented the beauty
of Chinese Baijiu culture inheritance. "Million Space Partner Program" and other activities
conveyed the strongest cultural message of "there is always Dream Blue for big
family/nation events". Public welfare activities such as anti-epidemic student aid and
targeted poverty alleviation conveyed the brand image of warmth and feelings. The
Company was awarded the Top 100 Most Valuable Chinese Brands in 2020 and ranked
the third in the Top 50 Global Spirits Brand Value List in 2020. The brand awareness and
reputation have been further improved.
Fourth the company upgraded management and improved the quality of development.
The Company focused on improving management quality and efficiency and promoting
transformation. The 14th Five-Year Plan has been scientifically formulated. Digital
transformation supply chain management quality control investment management
information disclosure audit management and other work have been upgraded and
more efforts have been made. The management efficiency has been continuously
improved in the process of striving for excellence. The construction of a new digital
management system packaging production efficiency and market response speed
significantly improved. Production costs were further reduced and intelligent packaging
performed well. It further improved the logistics support ability of the Company.
Fifth the Company strengthened cultural construction and condensed synergy for
development. The Company gave full play to the dual advantages of leading Party
building and shaping culture and continued to strengthen Party building work. The
Company adhered to the political guidance through the "three lectures and one
comparison" theme education and other activities. The effect of style construction has
been shown. More than 80 activities such as summer camp for Su wine students and
more than 200 cultural activities such as Mid-Autumn Festival National Day Gala have
been carried out to actively build a large ecological circle of corporate humanistic care.The Company adhered to cultural confidence started the construction of "cultural
Yanghe" established Yanghe University Sujiuzhihui and other enterprising learning and
growth platforms. Post knowledge system construction showed initial results. The
Company created typical character images to highlight the power of examples. The
Company has been awarded 53 national and provincial honors such as "Outstanding
Contributor of the Hope Project for 30 Years Craftsman of China Brewing Industry
National Civilized Family Good Youth of Jiangsu Province and Jiangsu May Day
Innovative Expert". The guiding role is more powerful and the forging ahead is more
profound.The Company shall comply with the disclosure requirements of Shenzhen Stock
Exchange Industry Information Disclosure Guidelines No. 14 -Listed Companies
Engaging in Food and Liquor Manufacturing Related Businesses
Information about brand operation
The Company’s products include Dream Blue Sujiu Sky Blue Zhenbaofang Ocean
Blue Yanghe Daqu Shuanggou Daqu Guijiu Sidus Wine and so on. According to the
price range standard of ex-factory price the Company divides the products into mid/high
end and ordinary products. The mid/high end products refer to those with ex-factory price
≥ CNY 100 / 500ml mainly including Dream Blue Sujiu Sky Blue Zhenbaofang (Difang
Shengfang) and Ocean Blue. Ordinary products refer to those with ex-factory price <
CNY 100 / 500ml mainly including Yanghe Daqu and Shuanggou Daqu.
The revenue of various products is as follows:
Unit:CNY
Products
Operating revenue
2020 YoY change
Mid/high end products 17647666173.96 -7.15%
Ordinary products 2686616269.02 -14.86%
Main sales model
The Company adopts the marketing and sales model mainly based on distribution which
is divided into wholesale distribution and online direct selling among which wholesale
distribution is the main sales model.
Distribution model
? Applicable √ N/A
1. Disclosure of main business composition by different types
Unit:CNY
Types Operating revenue YoY
change
Operating cost YoY
change
Gross
margin
YoY
change
By product
Mid/high
end
products
17647666173.96 -7.15% 3556004734.05 -7.51% 79.85% 0.08%
Ordinary
products
2686616269.02 -14.86% 1687531385.06 -12.47% 37.19% -1.71%
Subtotal 20334282442.98 -8.24% 5243536119.11 -9.17% 74.21% 0.26%
By sales model
Wholesale
distribution
20008281801.72 -8.49% 5197737787.91 -9.32% 74.02% 0.24%
Online
direct
selling
326000641.26 9.68% 45798331.20 11.83% 85.95% -0.27%
Subtotal 20334282442.98 -8.24% 5243536119.11 -9.17% 74.21% 0.26%
By geographical segment
Jiangsu 9559956587.96 -7.18% 2733139743.54 -9.13% 71.41% 0.61%
Ex-
Jiangsu
10774325855.02 -9.17% 2510396375.57 -9.21% 76.70% 0.01%
Subtotal 20334282442.98 -8.24% 5243536119.11 -9.17% 74.21% 0.26%
According to the price range standard of ex-factory price the Company divides the
products into mid/high end products and ordinary products. The mid/high end products
refer to those with ex-factory price ≥ CNY 100 / 500ml. Ordinary products refer to those
with ex-factory price <CNY 100 / 500ml.
2. Disclose the number of distributors according to regional classification
Geographical segment Distributor number at
the end of the reporting
period
Increase number during
the reporting period
Decrease number
during the reporting
period
Jiangsu 3116 227 413
Ex-Jiangsu 5935 976 1887
Total 9051 1203 2300
Since 2019 the Company has carried out marketing adjustment and transformation with
"one main distributor and multiple auxiliary distributors". It has built a distributing network
around the guiding ideology of complementary and coordinated development. As a result
the number of distributors decreased.
3. Settlement method and distribution method
The Company mainly adopts the bank transfer method for settlement and adopts the
method of payment before goods for product sales.
4. Sales amount and sales proportion of the top five distributors
In 2020 the total sales amount of the top five distributors was CNY 973.1852 million
accounting for 4.61% of the total sales of this year. Among the sales of the top five
distributors the sales from related parties were CNY 0 accounting for 0% of the total
sales of this year. The total amount of receivables of the top five distributors at the end of
the period were CNY 0.Store sales terminals accounted for more than 10%
? Applicable √ N/A
Online direct selling
? Applicable √ N/A
Unit:CNY
Online direct selling Sales amount in
2020
Sales amount in
2019
YoY change
T-mall JD.COM and
other platforms
326000641.26 297224498.99 9.68%
The sales price of the main products accounting for more than 10% of the total operating
revenue of the current period changed by more than 30% compared with the previous
reporting period
? Applicable √ N/A
Procurement mode and content
Unit:CNY
Procurement mode Procurement content Amount
Market bidding Distilling raw materials and
packaging materials
3912774029.08
Marketing purchase Energy 293209174.11
Procurement of raw materials from cooperatives or farmers accounted for more than 30%
of the total purchase amount
? Applicable √ N/A
The price of major outsourced raw materials changed by over 30% year on year
? Applicable √ N/A
Main production mode
The Company's production mode is self-produced mode the main links including raw
material crushing fermentation distillation grade storage liquor body design and
combination product packaging.
Commissioned production
? Applicable √ N/A
The main components of operating costs
Unit:CNY
Types Cost item 2020 2019 YoY
change Amount As a Amount As a
percentage
of operating
cost
percentag
e of
operating
cost
Baijiu Direct
materials
3735886638.99 63.84% 4159654057.94 62.77% -10.19%
Direct labor 900387427.26 15.39% 902420369.83 13.62% -0.23%
Fuels and
energy
211348204.70 3.61% 225184624.70 3.40% -6.14%
Manufacturing
overhead
297087576.41 5.08% 356239324.36 5.38% -16.60%
Output and inventory
1. Production volume sales volume and inventory of major products
Types Item Unit 2020 2019 YoY change
Baijiu Sales ton 155757.37 186022.52 -16.27%
Production ton 161498.22 179315.33 -9.94%
Inventory ton 23897.60 18156.75 31.62%
2. Inventory of finished and semi-finished Baijiu at the end of the period
Unit: ton
Inventory of finished Baijiu Inventory of semi-finished Baijiu (including
raw liquor)
24324.62 609146.56
3. Capacity of the Company
Unit: ton
Name of production entity Design capacity Actual capacity in 2020
Yanghe (including Yanghe branch
and siyang branch)
222545 122366
Shuanggou Distillery 97040 38127
2. Analysis of main business
2.1. Overview
Same with the contents presented in “1.Overview” of this section.
2.2. Revenues and cost of sales
2.2.1. Breakdown of operating revenues
Unit:CNY
2020 2019
YoY change
Amount
As a percentage
of operating
revenues
Amount
As a percentage
of operating
revenues
Total 21101051131.79 100% 23126476885.07 100% -8.76%
By business segment
Liquor 20334282442.98 96.37% 22161278307.05 95.83% -8.24%
Others 766768688.81 3.63% 965198578.02 4.17% -20.56%
By product
Baijiu 20152435029.41 95.51% 21967044396.58 94.99% -8.26%
Wine 181847413.57 0.86% 194233910.47 0.84% -6.38%
Others 766768688.81 3.63% 965198578.02 4.17% -20.56%
By geographical segment
Jiangsu 9990396422.72 47.35% 11011399137.52 47.61% -9.27%
Ex-Jiangsu 11110654709.07 52.65% 12115077747.55 52.39% -8.29%
2.2.2. Business segment products or geographical segments
contributing over 10% of the operating revenues or profits
√ Applicable ? N/A
Unit:CNY
Operating
revenues
Cost of sales
Gross
profit
margin
YoY change
of operating
revenue
YoY change of
cost of sales
YoY change
of gross
profit margin
By business segment
Liquor 20334282442.98 5243536119.11 74.21% -8.24% -9.17% 0.26%
By product
Baijiu 20152435029.41 5144709847.36 74.47% -8.26% -8.84% 0.16%
By geographical segment
Jiangsu 9559956587.96 2733139743.54 71.41% -7.18% -9.13% 0.61%
Ex-
Jiangsu
10774325855.02 2510396375.57 76.70% -9.17% -9.21% 0.01%
Under the circumstances that the statistical standards for the Company’s main business
data adjusted in the reporting period the Company’s main business data in the current
one year is calculated based on adjusted statistical standards at the end of the reporting
period.
? Applicable √ N/A
2.2.3. Whether revenue from physical sales is higher than service
revenue
√ Yes □ No
By
business
segment
Item Unit 2020 2019 YoY change
Baijiu
Sales volume ton 155757.37 186022.52 -16.27%
Production
volume
ton 161498.22 179315.33 -9.94%
Inventory volume ton 23897.60 18156.75 31.62%
Wine
Sales volume ton 3202.27 4854.36 -34.03%
Production
volume
ton 2985.04 4137.99 -27.86%
Inventory volume ton 427.02 644.25 -33.72%
Reasons for any over 30% YoY changes in the data above.
√ Applicable ? N/A
The increase of 31.62% YoY in inventoryvolume of Baijiu was mainly due to stock for
Spring Festival sales season.The decrease of 34.03% YoY in sales volume of wine was mainly due to the epidemic
and the Company's product sales model. The Company's wine sales declined in this
reporting period resulting in a corresponding decline in wine sales volume.The decrease of 33.72% YoY in inventory volume of wine was mainly due to clearing and
digesting inventory in this reporting period.
2.2.4. Execution of significant sales contracts in the reporting period
? Applicable √ N/A
2.2.5. Breakdown of cost of sales
By business and product segment
Unit:CNY
By
business
segment
Item
2020 2019
YoY
change Amount
As a percentage
of cost of sales
Amount
As a percentage
of cost of sales
Liquor 5243536119.11 89.60% 5772779588.18 87.12% -9.17%
Unit:CNY
By
product
segment
Item
2020 2019
YoY
Change Amount
As a
percentage of
cost of sales
Amount
As a
percentage
of cost of
sales
Liquor
Direct
materials
3831187362.53 65.47% 4284348458.13 64.66% -10.58%
Liquor Direct labor 902098885.05 15.42% 904555426.95 13.65% -0.27%
Liquor
Fuels and
energy
212167471.34 3.63% 226377369.91 3.42% -6.28%
Liquor
Manufacturing
overhead
298082400.19 5.09% 357498333.19 5.40% -16.62%
Note: Nil
2.2.6. Changes in the scope of the consolidated financial statements for
the reporting period
√ Yes ? No
1. Establishment of subsidiaries
Su Wine Group Co.Ltd. the Company’s holding subsidiaryinvested CNY 2 million to
establishJiangsu Yanghe Painting and Calligraphy Academy. On 6 July 2020 the
Registration Certificate of Private Non-Enterprise Unit (Legal Person) issued by the Civil
Affairs Department of Jiangsu Province was obtained. It was included in the consolidated
financial statements from July 2020.
2. Cancellation of subsidiaries
(1) Huaian Huaqu Wine Development Co.Ltd. Jiangsu Huaqu Wine Group Nanjing
Co.Ltd. Taizhou Huaqu Wine Development Co.Ltd.Guizhou Guijiu Package Co.Ltd.
the holding subsidiaries were liquidated and terminated onJanuary 2020.FromFebruary
2020 theyare no longer included in the consolidated scope of the consolidated financial
statements.
(2) Jiangsu Huaqu Wine Group Suzhou Co. Ltd. Jiangsu Huaqu Wine Group Yancheng
Co. Ltd. the holding subsidiaries were liquidated and terminatedonMarch 2020.
FromApril 2020 theyare no longer included in the consolidated scope of the consolidated
financial statements.
(3) Jiangsu Huaqu Wine Group Nantong Co. Ltd. Jiangsu Huaqu Wine Group Wuxi Co.
Ltd. the holding subsidiaries were liquidated and terminated on April 2020. From May
2020 they are no longer included in the consolidated scope of the consolidated financial
statements.
2.2.7. Major changes in the business products or services in the
reporting period
? Applicable √ N/A
2.2.8. Main customers and suppliers
Sales to major customers of the Company
Total sales from top five customers(CNY) 973185221.90
Total sales from top five customers as a percentage of the total sales 4.61%
Total sales from related parties among top five customers as a
percentage of the total sales
0.00%
Information on top five customers
No. Customer Sales amount(CNY)
As a percentage of the total sales
for the year
1 Customer A 250020588.88 1.18%
2 Customer B 226028249.31 1.07%
3 Customer C 219523255.31 1.04%
4 Customer D 139377749.01 0.66%
5 Customer E 138235379.39 0.66%
Total -- 973185221.90 4.61%
Other information on major customers
? Applicable √ N/A
Major suppliers of the Company
Total purchasefrom top five suppliers(CNY) 1046394506.36
Total purchasefrom top five suppliers as a percentage of the total
sales
20.47%
Total purchasefrom related parties among top five suppliers as a
percentage of the total purchase
0.00%
Information on top five suppliers
No. Supplier Purchases(CNY)
As a percentage of the total
purchase for the year
1 Supplier A 289002139.70 5.65%
2 Supplier B 225020586.44 4.40%
3 Supplier C 211926877.93 4.15%
4 Supplier D 164202585.50 3.21%
5 Supplier E 156242316.79 3.06%
Total -- 1046394506.36 20.47%
Other information on major suppliers
? Applicable √ N/A
2.3. Expense
Unit:CNY
2020 2019 YoY change
Reason for any
significant change
Selling and
distribution
expenses
2603804157.78 2691711170.59 -3.27%
General and
administrative
expenses
1729080201.93 1856491727.00 -6.86%
Finance expenses
-87234764.39 -78426551.41 -11.23%
R&D expenses
260094291.03 159965593.88 62.59%
During this period the
R&D investment of raw
liquor production base
increased so the
amount of R&D expense
increased accordingly
The Company shall comply with the disclosure requirements of Shenzhen Stock
Exchange Industry Information Disclosure Guidelines No. 14 - Listed Companies
Engaging in Food and Liquor Manufacturing Related Businesses
(1) The composition of selling and distribution expenses
Unit: CNY 10000
Item
Current
period
amount
As a percentage of
selling and
distribution
expenses
Previous
period
amount
As a percentage of
selling and
distribution
expenses
YoY
change
Advertising and
promotion
expense
141109.00 54.19% 156690.39 58.21% -9.94%
Payroll 64627.10 24.82% 50283.64 18.68% 28.53%
Cargo charge 518.50 0.20% 1032.70 0.38% -49.79%
Labor expense 11797.59 4.53% 15623.91 5.80% -24.49%
Travel expense 35343.47 13.57% 36573.51 13.59% -3.36%
Business
entertainment
162.81 0.06% 380.98 0.14% -57.27%
Other expense 6821.95 2.62% 8585.99 3.19% -20.55%
Total 260380.42 100.00% 269171.12 100.00% -3.27%
(2) The composition of advertising expense
Unit: CNY 10000
Item
Current period amount As a percentage of advertising
expenses
National advertising expense 89074.58 87.32%
Regional advertising expense 12937.74 12.68%
Total 102012.32 100.00%
2.4. R&D input
√ Applicable ? N/A
The Company seeksstable improvement and lays a solid quality foundation. It makes
more efforts from "brewing selecting storing and using good liquor" to build a new
combination system of large base liquor to enrich the resources of multiple types of
characteristic liquor and to realize the transformation of the structure of raw liquor and
base liquor from characteristics to advantages and continuously to consolidate the
guarantee force of quality Yanghe resources.The Company seeks stable breakthrough and empowers scientific and technological
innovation.Through in-depth basic theoretical research analysis of mellowness
mechanism exploration of health function factors and health experience factors
outstanding results have been achieved and the quality connotation of mellowness has
been enriched.The dynamic model of solid state fermentation with the highest quality
matching degree and the micro-ecological regulation method of pit and pond were
established. The brewing process of raw liquor was more controllable and the
improvement effect of raw liquor quality was continuously highlighted.The Company seeks new changes with stability to lead intelligent brewing. It adheres to
thetransformation "from traditional industrial technology to digital and intelligent" as a
goal.The Company deeply applies MES system and achieves a number of brewing core
technology breakthroughs. Jiangsu Province intelligent manufacturing demonstration
plant construction projectwas approved.The Company seeks quality improvement with stability.Product innovation also
achievesnew breakthroughs.Based on characteristics of Yanghe and Shuanggou the
comfort satisfaction and ease of the liquor body are regarded as an evaluation criteria for
quality improvement to realize a systematic solidification of flavor characteristics of a
whole series of products. The Company successfully creates crystal version of Dream
Blue and forms the product characteristics of "brightness mellowness super value and
super volume". It bringsan experience of "outside temperament and inside quality of good
Baijiu" to the consumer market.
Information about R&D input
2020 2019 YoY change
Number of R&D personnel 549 396 38.64%
R&D personnel as a percentage
in total employees
3.47% 2.51% 0.96%
R&D input(CNY) 269360145.63 166917025.32 61.37%
R&D input as a percentage in
operating revenues
1.28% 0.72% 0.56%
Capitalized R&D input(CNY) 9265854.60 6951431.44 33.29%
Capitalized R&D input
percentage in total R&D input
3.44% 4.16% -0.72%
Reasons for any significant YoY change in the ratio of the R&D input to the operating
revenues.
? Applicable √ N/A
Reasons for any sharp variation in the capitalization rate of R&D input and statement of
its rationale.
? Applicable √ N/A
2.5. Cash flows
Unit:CNY
Item 2020 2019 YoY change
Subtotal of cash inflows from
operating activities
21900973449.03 28418153682.08 -22.93%
Subtotal of cash outflows
from operating activities
17922182613.23 21620261810.67 -17.10%
Net cash flows from
operating activities
3978790835.80 6797891871.41 -41.47%
Subtotal of cash inflows from
investing activities
30896999982.51 40698105842.28 -24.08%
Subtotal of cash outflows
from investing activities
26424165197.95 41991320976.18 -37.07%
Net cash flows from
investing activities
4472834784.56 -1293215133.90 445.87%
Subtotal of cash outflows
from financing activities
5504913990.79 4823150583.00 14.14%
Net cash flows from
financing activities
-5504913990.79 -4823150583.00 -14.14%
Net increase in cash and
cash equivalents
2943041513.62 684796540.70 329.77%
Explanation of why the data above varied significantly.
√ Applicable □ N/A
(1)The decrease of 41.47% YoY of net cash flows from operating activities was mainly
due to the decline of revenue in this periodthe increase leading tothe decrease in cash
inflow from operating activities more than the decrease in cash outflow from operating
activities.It resulted in an decrease in net cash flow from current operating activities.
(2) The increase of 445.87% YoY of net cash flows from investing activities was mainly
due to a large decrease of purchasing financial products in this period leading to the
decrease in cash outflow from investing activities more than the decrease in cash inflow
from investing activities. It resulted in an increase in net cash flow from current investing
activities.
(3) The increase of 329.77% YoY of net increase in cash and cash equivalent was mainly
due to a large decrease of purchasing wealth management products in this period
leading to an increase in net cash flow from current investing activities. It resulted in an
increase in net increase in cash and cash equivalent in this period.Main reasons for the material difference between net cash flows from operating activities
during the reporting period and net profit for the year.
? Applicable √ N/A
3. Analysis of non-corebusiness
√ Applicable ? N/A
Unit:CNY
Amount
As a percentage
of total profits
Reasons Sustainability
Investment
income
1206683362.49 12.21%
Mainly due to the investment
income generated by finance
management and equity
investment
No
Changes in
fair value
1267682598.52 12.83%
Mainly due to changes in fair
value of financial assets held
for trading
No
Asset
impairment
-6196876.85 -0.06%
Mainly due to provision for
stock obsolescence
No
Non-operating
income
25039870.29 0.25%
Mainly due to donation
acceptance compensation and
liquidated damages income
No
Non-operating
expenses
41325490.38 0.42%
Mainly due to donation
expenses and losses from
retirement of fixed assets
No
4. Analysis of assets and liabilities
4.1 Significantchanges of asset items
The Company implemented the new revenue standards or new leasing standards for the
first time since 2020 and adjusted opening balance of related items in financial reports
due to the first implementation.
Applicable
Unit:CNY
As at the end of 2020 As at the beginning of 2020
Change
in
percenta
ge
Explanati
on about
any
significant
changes
Amount
As a
percentage
of total
assets
Amount
As a
percentag
e of total
assets
Cash and cash
equivalents
7243186362.29 13.45% 4300144848.67 8.04% 5.41%
Accounts
receivable
4225230.90 0.01% 16080618.65 0.03% -0.02%
Inventories 14852694146.30 27.57% 14433244696.27 27.00% 0.57%
Long-term equity
investments
29528377.16 0.05% 25361651.38 0.05%
Fixed assets 6882953634.34 12.78% 7256557503.85 13.58% -0.80%
Construction in
progress
223468482.24 0.41% 263153505.12 0.49% -0.08%
Long-term
borrowings
36360.00 72723.00
Financial assets
held for trading
14301978905.17 26.55% 17976767209.45 33.63% -7.08%
Other non-current
financial assets
6366958225.81 11.82% 5050851671.16 9.45% 2.37%
4.2 Assets and liabilities measured at fair value
√Applicable □ N/A
Unit:CNY
Item
Opening
balance
Changes in
fair value
recognized
in profit or
loss
Changes
in the
cumulati
ve fair
value
recorded
into
equity
Provisi
on for
impair
ment
Amount of
purchase
Amount of
sale
Other
change
s
Closing
balance
Financial
Assets
1. Financial
assets held
for
trading(exclud
ing derivative
financial
assets)
23027618
880.61
12676825
98.52
26071060
798.23
2969717
5266.30
-
24988
0.08
2066893
7130.98
Total
23027618
880.61
12676825
98.52
26071060
798.23
2969717
5266.30
-
24988
0.08
2066893
7130.98
Financial
liabilities
0.00 0.00 0.00 0.00 0.00
Other changes
Whether measurement attribution of main assets changed significantly during this period.?Yes √ No
4.3 Restricted asset rights as of the end of this reporting period
No
5. Investment
5.1. Total investment
√ Applicable ? N/A
Investment made in the reporting period(CNY) Investment made in the prior year(CNY) YoY change
2204658425.17 2169877269.95 1.60%
5.2. Significant equity investment made in the reporting period
? Applicable √ N/A
5.3. Significant non-equity investment ongoing in the reporting period
? Applicable √ N/A
5.4.Investment in financial assets
(1) Securities investment
√Applicable ? N/A
Unit:CNY
Categor
y of
securiti
es
Stock
code
Abbr. of
securitie
s
Initial
investment
cost
Accounting
measureme
nt model
Opening
balance
Changes in fair
value
recognized in
profit or loss
Changes
in the
cumulati
ve fair
value
recorded
into
equity
Amount of
purchase
Amou
nt of
sale
Profit and loss
during the
reporting
period
Closing
balance
Accounti
ng
subject
Capit
al
sourc
e
Domesti
c and
foreign
stocks
60169
6 BOCI
Securiti
es
300000000.0
0
Fair value
402516510.
70
1345694006.
29
1348062427.
33
1748210516.
99
Other
non-
current
financial
assets
Owne
d
Fund
Trust Nil Avic
Trust-
Apocaly
pse
No.328
Tianji
Jufu
1000000000.
00
Fair value
1000000000.
00
1000000000.
00
Financial
assets
held for
trading
Owne
d
Fund
Trust Nil MinShe
ng
Trust-
Zhongm
in
600000000.0
0
Fair value 784109.59
600000000.0
0
784109.59
600784109.5
9
Financial
assets
held for
trading
Owne
d
Fund
Yongfen
g No.1
Collectiv
e Fund
Trust
Plan
Trust Nil MinShe
ng
Trust-
Zhongm
in
Yongfen
g No.1
Collectiv
e Fund
Trust
Plan
500000000.0
0
Fair value 9674657.53
500000000.0
0
9674657.53
509674657.5
3
Financial
assets
held for
trading
Owne
d
Fund
Trust Nil Avic
Trust-
Tianji
Huicai
No.3
Bond
Investm
ent
Collectiv
e Fund
Trust
Plan
500000000.0
0
Fair value 7421917.81
500000000.0
0
7421917.81
507421917.8
1
Financial
assets
held for
trading
Owne
d
Fund
Trust Nil Zhongro
ng
Trust-
Huijujin
No.1
Money
Fund
Collectiv
e Fund
Trust
500000000.0
0
Fair value 6935616.44
500000000.0
0
6935616.44
506935616.4
4
Financial
assets
held for
trading
Owne
d
Fund
Plan
Trust Nil Avic
Trust-
Tianji
Huicai
No.3
Bond
Investm
ent
Collectiv
e Fund
Trust
Plan
500000000.0
0
Fair value 685616.44
500000000.0
0
10595890.41
500685616.4
4
Financial
assets
held for
trading
Owne
d
Fund
Trust Nil Zhongro
ng
Trust-
Huijujin
No.1
Money
Fund
Collectiv
e Fund
Trust
Plan
500000000.0
0
Fair value
500000000.0
0
10528767.12
500000000.0
0
Financial
assets
held for
trading
Owne
d
Fund
Trust Nil Avic
Trust-
Tianji
Huicai
No.3
Bond
Investm
ent
Collectiv
e Fund
Trust
Plan
500000000.0
0
Fair value
500000000.0
0
500000000.0
0
Financial
assets
held for
trading
Owne
d
Fund
Trust Nil Zhongro
ng
500000000.0
0
Fair value
500000000.0
0
500000000.0
0
Financial
assets
Owne
d
Trust-
Huijujin
No.1
Money
Fund
Collectiv
e Fund
Trust
Plan
held for
trading
Fund
Other securities investments
held at the end of this period 1002544440
0.98
--
123537863
55.66
-69374769.64
1016804683
4.74
1212
6260
120.1
4
845786212.4
9
1032594842
0.54
-- --
Total
1542544440
0.98
--
127563028
66.36
1301821154.
46
0.00
1526804683
4.74
1212
6260
120.1
4
2239789598.
72
1719966085
5.34
-- --
Disclosure date of the
announcement of the board
of directors for the approval
of securities investment
April 29 2020
Disclosure date of
announcement of
shareholders' committee for
approval of securities
Investment (if any)
23 May 2020
(2) Derivative investments
? Applicable √ N/A
No such cases in the reporting period.
5.5. Use of fund-raising
? Applicable √ N/A
No such cases in the reporting period.
6. Sale of major assets and equity Interests
6.1. Sale of major Assets
? Applicable √ N/A
No such cases in the reporting period
6.2. Sale of major equity Interests
? Applicable √ N/A
7. Analysis of major subsidiaries
√ Applicable ? N/A
Main subsidiaries and joint companies with an over 10% influence on the Company’s net profit
Unit:CNY
Company name
Company
type
Business scope
Registered
capital
Total assets Net assets Operating revenue Operating profit Net profit
Su Wine Trade Group
Limited by Share Ltd.Subsidiary
Wholesaling and
retailing of
prepackaged food
334400000.00 17523095738.91 3812370210.74 19994698526.68 3810931697.73 2969807865.72
Jiangsu Shuanggou
Distillery Stock Co.Ltd.
Subsidiary
Production and sales
of Baijiu
110000000.00 8480167211.27 2082121890.26 1299058672.33 1631972165.61 1712488476.69
Jiangsu Shuanggou Liquor
Operation Co.Ltd.Subsidiary
Wholesaling and
retailing of
prepackaged food
5000000.00 4140870588.94 1182136028.53 3685694999.59 1559022241.40 1169148142.52
Acquisition and disposal of subsidiaries during the reporting period
√ Applicable □ N/A
Subsidiary name
How subsidiary was acquired or disposed
during the reporting period
Impact on overall operation and
results(CNY)
Jiangsu Yanghe Painting and Calligraphy Academy Establishment Tiny
Huaian Huaqu Wine Development Co.Ltd. Liquidation and cancellation Tiny
Jiangsu Huaqu Wine Group Nanjing Co.Ltd. Liquidation and cancellation Tiny
Jiangsu Huaqu Wine Group Nantong Co. Ltd. Liquidation and cancellation Tiny
Jiangsu Huaqu Wine Group Suzhou Co. Ltd. Liquidation and cancellation Tiny
Taizhou Huaqu Wine Development Co.Ltd. Liquidation and cancellation Tiny
Jiangsu Huaqu Wine Group Wuxi Co. Ltd. Liquidation and cancellation Tiny
Jiangsu Huaqu Wine Group Yancheng Co. Ltd. Liquidation and cancellation Tiny
Guizhou Guijiu Package Co.Ltd. Liquidation and cancellation Tiny
8. Structured entities controlled by the Company
□ Applicable √ N/A
9. Outlook for the future development of the Company
9.1. Analysis of industry situation
First industry concentration has been further enhanced. According to data from the
National Bureau of Statistics the number of Baijiu enterprises above designated size
dropped to 1040 in 2020 which was 538 fewer than that in 2016. With the gradual
improvement of consumers' brand awareness Baijiu market share tends to concentrate
on top brands and leading enterprises and the industry divergence continues to intensify.
Famous and excellent Baijiu enterprises with capital advantages management
advantages brand advantages talent advantages and channel advantages will
outperform in the future Baijiu market competition.Second brand premiumization continues. In recent years the continuous high growth of
the domestic economy the steady increase of residents' income and the structural
change of the main consumer groups have provided strong support for the high-end
Baijiu. In 2020 the total output of Chinese Baijiu enterprises above designated size was
7.4073 million kiloliters down 2.46% year on year. Their sales revenue reached CNY
583.639 billion up 4.61% year on year and the total profit reached CNY 158.541 billion
up 13.35% year on year. The rapid profit growth fully demonstrated and verified the
development trend of brand premiumization in Baijiu industry.Third the quality of products is further highlighted. As the economic environment and
consumption concept continue to change the majority of consumers have gradually
strengthened the concept of "drinking less but drinking better". In 2020 multiple Baijiu
enterprises continued to increase the investment in "intelligent distilling" and capacity
expansion projects to improve the capacity and production stability of high-quality Baijiu.The importance of quality improvement and communication in enterprise operation and
development are increasingly highlighted. The Company's leading production capacity
storage scale and raw liquor quality laid a solid foundation for the future high-quality
development.
9.2. Future development strategy and next business plan
(1) Future development strategy
Looking into the 14th Five-Year Period the Company will adhere to Xi Jinping Thought
on Socialism with Chinese Characteristics for a New Era as guidance earnestly
implement the important spirit on Jiangsu work that "spearheading as an example and
demonstration" instructed by General Secretary and further meet the latest requirements
by Provincial Party Committee of Suqian on "the reform and innovation of genes intomodernization and making new era legend”. Yanghe will focus on "new journey new
legend new Baijiu capital" with consumers as a center twin famous Baijiu as a main
carrier multiple brands as a pillar quality as a foundation brand as a soul culture as a
basis marketing as a king innovation as a need to build the "12345" strategic system to
create a wave leading Yanghe and a surging power Shuanggou. The Company will
promote to maintain sustained growth in quantity and steady improvement in quality at a
higher level and achieve a more fully balanced high-quality and efficient development.This will become a Chinese flavor that people are proud of and a Chinese name card that
will be remembered by the world.
"1" refers to one goal. That is to create a wonderful era of Yanghe and a colorful era of
Shuanggou so that mellowness become an immortal legend and the aroma continues
the classic of history.
"2" refers two priorities. That is the quality of the industry in the forefront and the brand in
the forefront of the country. It tries to be Chinese baijiu's leader and vanguard.
"3" refers to three types of synergy mechanisms. First is a quaternity of symbiosis of
manufacturers and dealers co-construction of factory and city industry sharing and
integration of business forms. Second is a quaternity of production living ecology life.Third is a quaternity of premiumization branding internationalization and capitalization.
"4" refers to four aggressive attitudes. Those are an attitude of a competitive combatant
an attitude of development and pursuit an attitude of practitioner of responsibility and an
attitude of a loyal member of Party.
"5" refers to five strategic initiatives. That is to actively promote the quality strategy brand
strategy innovation strategy culture strategy talent strategy to help the Company to
achieve high-quality development.
(2) Business plan in 2021
2021 is the start of the implementation of the 14th Five-Year Plan the Company will
surround the overall tone of "deepening the transformation and upgrading with gathering
change energy" to gathering six forces and six improvements and to implement six
hardcore projects. In the new historical starting point the Company aims to build a new
pattern of high-quality development. It will help Yanghe to become a famous Chinese
Baijiu enterprise that is a trend-setting player in the world. The operating target in 2021 is
to achieve a year-on-year increase in operating revenue of more than 10%.Gathering six forces and six improvements. First is a system thinking and strong
marketing promotes deep transformation. Second is long-term doctrine and strong quality
promotes product upgrading. Third is a positioning law and strong brand promotes
reputation building. Fourth is secondary entrepreneurship and strong innovation
promotes deep reform. Fifth is to combat entropy increase and strong management
promotes efficiency improvement. Sixth is to face the future and strong culture promotes
value identification.Implementing the six hardcore projects. Those refer to marketing depth transformation
project product overall upgrade project brand matrix enhancement project system
mechanism activation project management efficiency perfection project and culture
Yanghe building project.
(3) Possible risks
First is a risk of intensified market competition. With the continuous improvement of
industry concentration the industry has gradually entered the stage of accelerated
competition and famous Baijiu enterprises have accelerated the pace of national
expansion presenting new changes in five aspects such as brand channel marketing
digitalization and organization. In view of the above risks the Company will take
consumer demand as the core guidance through constantly optimizing the product
structure expanding the channel market innovative marketing mode and other ways
effectively improve the Company's comprehensive competitiveness and market share.Second is a risk of market demand changes. Due to the long duration and wide range of
the epidemic it has had a profound impact on consumers' consumption concept and
behavior prompting consumers to pay more attention to the concept of healthy life and
"drinking less but drinking better" has become a new trend of consumption. In view of the
above risks the Company will always adhere to the consumer demand as the core
guidance and conduct in-depth consumer insight researches increase the strength of
market research product innovation and model innovation to continuously meet
consumers' diversified needs.
10. Visits paid to the Company for research communication
interview etc.
10.1 Activity registerin the reporting period
√ Applicable ? N/A
Date of visit
Reception
site
Way of visit
Type of
visitor
Visitor
The main
contents of the
discussion and
the information
provided
Index to main
inquiry information
19May 2020
Nanjing
operation
center
Other Other
Attending the
Company's 2019
annual results
presentation
online
Communicatio
n on the
Company's
performance
in 2019 and
other aspects
Log Sheet of
Investor Relations
Activities
on19May 2020 on
www.cninfo.com.c
n(No:2020-
001)
22 May
2020
Nanjing
operations
center
Field survey Other
101 shareholders
and investors
who participated
in the on-site
communication
at the Company's
2019 annual
shareholders'
meeting
Communicatio
n on the
Company's
annual
business
objectives
market
competition
and other
aspects
Log Sheet of
Investor Relations
Activities on22
May 2020 on
www.cninfo.com.c
n(No:2019-
002)
11Septembe
r 2020
/
Telephone
communicatio
n
Institutio
n
14 investors from
CITIC Fullgoal
Fund Taikang
Assets and other
institutions
Communicate
on the
progress and
effectiveness
of the
company's
Log Sheet of
Investor Relations
Activities on
11September
2020 on
www.cninfo.com.c
Date of visit
Reception
site
Way of visit
Type of
visitor
Visitor
The main
contents of the
discussion and
the information
provided
Index to main
inquiry information
marketing
adjustment
and
transformation
product
upgrading and
other aspects
n(No:2020-
003)
15Septembe
r 2020
Headquarte
r
Field survey
Institutio
n
4 investors from
Kaifeng Fund
and Huatai
Securities
Communicate
on the
Company's
dealer
inventory
marketing
organization
structure
marketing
systemand
other aspects
Log Sheet of
Investor Relations
Activities
on15September
2020 on
www.cninfo.com.c
n(No:2020-
004)
22October
2020
Nanjing
operation
center
Field survey
Institutio
n
11 investors from
CITIC and public
and private
equity institutions
Communicate
on the effect of
channel
adjustment
product
inventory cost
inputand other
aspects
Log Sheet of
Investor Relations
Activities
on22October
2020 26October
2020 27October
2020 on
www.cninfo.com.c
n(No:2020-
005)
26October
2020
Nanjing
operation
center
Field survey
Institutio
n
9 investors from
Guosheng
Securities and
public and
private equity
institutions
Communicate
on the effect of
channel
adjustment
product
inventory cost
inputand other
aspects
Log Sheet of
Investor Relations
Activities
on22October
2020 26October
2020 27October
2020 on
www.cninfo.com.c
n(No:2020-
005)
27October
2020
Nanjing
operation
center
Field survey
Institutio
n
27 investors from
Guotai Junan
SecuritiesSinolin
k Securities
Haitong
Securities HSBC
Qianhai
Securities China
Merchants
Securities
Soochow
Securities
Industrial
Communicate
on the effect of
channel
adjustment
product
inventory cost
inputand other
aspects
Log Sheet of
Investor Relations
Activities
on22October
2020 26October
2020 27October
2020 on
www.cninfo.com.c
n(No:2020-
005)
Date of visit
Reception
site
Way of visit
Type of
visitor
Visitor
The main
contents of the
discussion and
the information
provided
Index to main
inquiry information
Securities
Shenggang
Securities and
public and China
Galaxy
Securities
Pacific
Securities
Changjiang
Securities Credit
Suisse Zhongtai
Securities and
other securities
brokerages and
private equity
institutions
4November
2020
Headquarte
r
Field survey
Institutio
n
57 investors from
CICC CITIC
Everbright
Securities
Guangfa
Securities
Guotai Junan
Huatai
Securities Credit
Suisse Guosen
Securities Bank
of China
Securities
Northeast
Securities
Soochow
Securities
Dongxing
Securities
Hongta
Securities
Kaiyuan
Securities New
Times Securities
Zheshang
Securities and
other securities
brokerages and
public offering
private offering
and QFII
Communicate
on product
sales and
marketing of
the Company
Log Sheet of
Investor Relations
Activities
on4November
2020 on
www.cninfo.com.c
n(No:2020-
006)
Section V Significant Events
1. Profit distribution and converting capital reserves into
share capital for common shareholders
Profit distribution policy for common stock during this period especially formulation
execution or adjustments of cash dividend policy.
√ Applicable ? N/A
On 22 May 2020 the Company held 2019 annual shareholders' meeting and the plan for
profit distribution for 2019 was reviewed and approved by this meeting. Plan for profit
distribution: based on the share capital participating in the dividend on the equity
registration date when the profit distribution plan is implemented (the base is the total
share capital of 1506988000 shares excluding the repurchased shares of 6072339
shares) the Company used undistributed profit to distribute a cash dividend of CNY 30
(tax inclusive) per 10 shares. The total cash dividend was CNY 4502746983 (tax
inclusive).
A special statement of cash dividend policy
Whether it meets the requirements of the articles
of incorporation or the resolution of shareholders'
meeting.Yes
Whether the standard and proportion of dividends
are definite and clear.Yes
Whether the relevant decision-making processand
systemare complete.Yes
Whether non-executive directors perform their
duties and play their due role.Yes
Whether the minority shareholders have the
opportunity to fully express their opinions and
appeals and whether their legitimate rights and
interests have been adequately protected.Yes
Whether the conditions and procedures are
compliant and transparent it the cash dividend
policy is adjusted or changed.The Company's cash dividend policy
has not been adjusted or changed.Plans (or preliminary plans) for profit distribution and converting capital reserves into
share capital for common shareholders for the recent three years (including the reporting
period) are as following:
2020: The Company intends to use the undistributed profits to distribute to all
shareholders a cash dividend of CNY 30 (including tax) for every 10 shares of the total
capital stock (excluding the repurchased shares held in the Company's repurchase
special securities account) on the basis of the total capital stock on the registration date
of the implementation of the profit distribution plan and does not send bonus shares or
convert to additional capital stock. Assuming that the current total capital stock of the
Company is 1506988000 shares deducting 1497326690 shares repurchased after
9661310 shares held in the special securities account for share repurchase of the
Company as the base the Company is expected to pay out a cash dividend of CNY
4491980070 (tax included) this year.
2019:based on the share capital participating in the dividend on the equity registration
date when the profit distribution plan is implemented (the base is the total share capital of
1506988000 shares excluding the repurchased shares of 6072339 shares) the
Company used undistributed profit to distribute a cash dividend of CNY30 (tax inclusive)
per 10 shares. The total cash dividend is CNY4502746983 (tax inclusive). The
registration date was 23 June 2020 and the ex-right & ex-dividend day was 24 June 2020.
2018: Based on its total of 1506.988 million shares as at 31 December 2018 the
Company is to distribute a cash dividend of CNY32 (tax inclusive) per 10 shares. The
total cash dividend is CNY4822.3616 million (tax inclusive). The registration date was 26
June 2019 and the ex-right & ex-dividend day was 27 June 2019.
Cash dividend distribution over the recent three years (including the reporting period)
Unit: CNY
Year
Cash dividends
(tax inclusive)
Net profit
attributable to
common
shareholders in
the consolidated
statement in the
year
Ratio to net
profit
attributable
to common
shareholder
s in the
consolidated
statement in
the year
Cash
dividends
in other
forms
(e.g.share
repurchas
e)
Ratio of
cash
dividends
in other
forms
Total cash
dividends
(including other
forms)
Ratio of
cash
dividends
(including
other
forms)
2020
4491980070.
00
7482228633.63 60.04%
1002128
680.79
13.39%
5494108750.
79
73.43%
2019
4502987691.
00
7382822726.87 60.99% 0.00 0.00%
4502987691.
00
60.99%
2018
4822361600.
00
8115189794.69 59.42% 0.00 0.00%
4822361600.
00
59.42%
The Company made a profit in the reporting period and the profit distributed to common
shareholders of the parentcompany was positive but it did not put forward a preliminary
plan for cash dividend distribution to its common shareholders
? Applicable √ N/A
2. Plan for profit distribution and converting capital reserves
into share capital for the reporting period
√ Applicable ? N/A
Bonus shares for every 10 shares (share) 0
Dividend for every 10 shares (CNY) (tax
included)
30
Total shares as the basis for the preliminary
plan for profit distribution (share)
1497326690
Total cash dividends (CNY) (tax inclusive) 4491980070.00
Cash dividends in other forms (e.g. share
repurchase)
1002128680.79
Total cash dividends (CNY) (including other
forms)
5494108750.79
Distributable profit (CNY) 28279648717.65
Percentage of cash dividends in the total
distributed profit (including other forms)
100%
Information about cash dividends
The development stage of the Company is mature and the Company has no major fund expenditure
arrangement. When the profit distribution is carried out the proportion of cash dividends in this profit
distribution should at least reach 80%.
Details about the preliminary plan for profit distribution and converting capital reserves into share
capital
As audited by Suya Jincheng CPA LLP the Company realized a net profit of CNY 8225517084.03 for
2020. It provided CNY 0 as statutory surplus reserves plus undistributed profit at the beginning of the
year of CNY 24556878616.62 and minus the distributed profit of CNY 4502746983 the actual
distributable profit would be CNY 28279648717.65.In line with both the long-term development needs of the Company and the principle of giving
appropriate returns to shareholders The Company intends to use the undistributed profits to distribute
to all shareholders a cash dividend of CNY 30 (including tax) for every 10 shares of the total capital
stock (excluding the repurchased shares held in the Company's repurchase special securities account)
on the basis of the total capital stock on the registration date of the implementation of the profit
distribution plan. There is no bonus shares and reserves would not be converted into share capital. The
profit distribution conforms to the cash dividend policy stipulated in the articles of association.
Assuming that the current total capital stock of the Company is 1506988000 shares deducting
1497326690 shares repurchased after 9661310 shares held in the special securities account for
share repurchase of the Company as the base the Company is expected to pay out a cash dividend of
CNY 4491980070 (tax included) this year.
3. Performance of undertakings
3.1. Undertakings of the Company's actual controller shareholders
related parties and acquirer as well as the Company and other
commitment makers fulfilled during the reporting period or ongoing at
the end of this period
√ Applicable ? N/A
Undertaking
Undertaking
giver
Type of
undertaking
Details of undertaking
Undertaki
ng date
Term
Perfor
mance
Stock reform
undertaking
Undertaking made in
the report of acquisition
or change of interest
Undertaking made in
the reorganization of
assets
Undertakings given in
time of IPO or
refinancing
Jiangsu
Yanghe Group
Co.Ltd.
Horizontal com
petition related
transactions
and capital
occupation
1. The commitment to
avoid horizontal competitio
n:
(1) At present the
Company has not engaged
in the business of
competing with the joint
stock company. The
Company is committed to
maintaining the existing
business structure and does
not directly or indirectly
operate any business that
competes with the actual
operation of the joint stock
company or may constitute
26 August
2009
Long-
term
In
progress
Undertaking
Undertaking
giver
Type of
undertaking
Details of undertaking
Undertaki
ng date
Term
Perfor
mance
a competition or a
subsidiary or subsidiary
enterprise that is engaged
in the above business.
(2) If the Company violates
the above commitments
the joint stock company has
the right to require the
company to immediately
terminate its business
competition and to
compensate for the
economic losses caused to
the joint stock company. At
the same time the
Company should pay
liquidated damages to the
joint stock company for
CNY 10 million.
(3) The Company has
committed itself to the
legitimate rights and
interests of the
shareholders of jointstock
companies other
shareholders of jointstock
companies and the
creditors of jointstock
companies without the use
of their holding shareholder
status in the joint stock
company.
(4) This undertaking shall
enter into force on the date
of signing and shall not be
revoked without the consent
of the stock company.
2. The commitment to
reduce the related
transactions: the Company
will strictly follow the
requirements of the relevant
laws as Corporation Law
Securities Law and Code of
Corporate Governance for
Listed Companies and
further reduce and strictly
standardize the various
related transactions
between the Company and
the joint stock companies
so as to ensure that the
controlling shareholders
and the actual control are
not used. The status of
making a person damages
the interests of the
shareholders of a joint stock
company and other
shareholders and does not
occur in the case of new
share holding companies.Jiangsu Blue
Alliance Co.
Ltd.Horizontal com
petition related
transactions
and capital
The commitment to avoid
horizontal competition:
1. The Company is mainly
engaged in investment
23
November
2017
Long-
term
In
progress.
Blue
Undertaking
Undertaking
giver
Type of
undertaking
Details of undertaking
Undertaki
ng date
Term
Perfor
mance
occupation management and does not
operate the same or
associated business with
the issuer. The Company
will not engage in the
business of the same or
associated business with
the issuer without prejudice
to the interests of the
issuer nor from the issuer
for unfair interests.
2. If the Company violates
the above commitment the
issuer has the right to claim
compensation for the
economic loss resulting
from the issuer and to pay
a liquidated penalty of CNY
5 million and the right to
purchase the business item
at the market price of the
business item or the
establishment of a cost
price (which is the principle
of the lowest value).3. This
undertaking shall enter into
force on the date of signing
and shall not be revoked
without the consent of the
issuer.
Alliance
merged
Blue Sky
Trade
and Blue
Ocean
Trade.
Blue
Alliance
carries
on
relevant
commitm
ents
Jiangsu Blue
Alliance Co.
Ltd.Share reduction
After a year of trading in the
stock exchange the shares
of the issuer will not exceed
25% of the total number of
shares held by the issuer
and the issuer's shares and
changes in the shares are
declared to the issuer in a
timely manner.
23
November
2017
Long-
term
In
progress
,Blue
Alliance
merged
Blue Sky
Trade
and Blue
Ocean
Trade.
Blue
Alliance
Carries
on
relevant
commitm
ents
Cong Xuenian
Other
undertaking
As directors supervisors
and senior managers of
Blue Alliance made the
commitment:
1. During the tenure of the
issuer Blue Alliance equity
transferred annually shall
not exceed 25% of the total
number of shares held by
Blue Sky Trade。
2. If I leave the issuer I will
not transfer the shares of
Blue Alliance that I have
held within six months after
my departure.
3. If I leave from the issuer
the number of Blue Alliance
transferred shares trade
within twelve months after
23
November
2017
Long-
term
In
progress
Undertaking
Undertaking
giver
Type of
undertaking
Details of undertaking
Undertaki
ng date
Term
Perfor
mance
six months of departure
does not exceed 50% of the
total share of Blue Alliance.
Feng Pantai
Other
undertaking
As directors supervisors
and senior managers of
Blue Alliance made the
commitment:
1. During the tenure of the
issuer Blue Alliance equity
transferred annually shall
not exceed 25% of the total
number of shares held by
Blue Sky Trade。
2. If I leave the issuer I will
not transfer the shares of
Blue Alliance that I have
held within six months after
my departure.
3. If I leave from the issuer
the number of Blue Alliance
transferred shares trade
within twelve months after
six months of departure
does not exceed 50% of the
total share of Blue Alliance.
23
November
2017
8Janu
ary20
22
In
progress
Equity incentive
undertaking
Other undertakings to
non-controlling
shareholders
Whether the undertaking
is fulfilled on time
Yes
If the undertaking is
overdue and not fulfilled
specific reasons for
failing to fulfill any
undertakings and plan
for the next step
N/A
3.2. Where any earnings forecast was made for any of the Company's
assets or projects and the reporting period is still within the forecast
period the Company shall explain whether the performance of the asset
or project reaches the earnings forecast and why
? Applicable √ N/A
4. Occupation of the Company's capital by the controlling
shareholder or its related parties for non-operating purposes
? Applicable √ N/A?
No such cases in the reporting period.
5. Explanation of the board of directors the supervisory
committee and non-executive directors (if any) regarding the
"non-standard audit opinion" for the reporting period
? Applicable √ N/A
6. Reasons for changes in accounting policies accounting
estimates and accounting methods as compared to the
financial report for the prior year
√ Applicable ? N/A
Since 1 January 2020 the Company has implemented the revised by Ministry of Finance
on July 2017: the Accounting Standards for Business Enterprises No. 14 - Revenue
(Caikuai[2017]No.22). According to the requirements of the new revenue standard the
Company presents the relevant information of financial instruments without retroactively
adjusting the comparative financial statements.
7. Reasons for retrospective restatement of major accounting
errors during the reporting period
? Applicable √ N/A?
No such cases in the reporting period.
8. Reasons for changes in scope of the consolidated financial
statements as compared to the financial report for the prior
year
√ Applicable ? N/A
8.1 Establishment of subsidiaries
Su Wine Group Co.Ltd. the Company’s holding subsidiaryinvested CNY 2 million to
establishJiangsu Yanghe Painting and Calligraphy Academy. On 6 July 2020 the
Registration Certificate of Private Non-Enterprise Unit (Legal Person) issued by the Civil
Affairs Department of Jiangsu Province was obtained. It was included in the consolidated
financial statements from July 2020.
8.2 Cancellation of subsidiaries
(1) Huaian Huaqu Wine Development Co.Ltd. Jiangsu Huaqu Wine Group Nanjing
Co.Ltd. Taizhou Huaqu Wine Development Co.Ltd.Guizhou Guijiu Package Co.Ltd.
the holding subsidiaries were liquidated and terminated onJanuary 2020.FromFebruary
2020 theyare no longer included in the consolidated scope of the consolidated financial
statements.
(2) Jiangsu Huaqu Wine Group Suzhou Co. Ltd. Jiangsu Huaqu Wine Group Yancheng
Co. Ltd. the holding subsidiaries were liquidated and terminatedonMarch 2020.
FromApril 2020 theyare no longer included in the consolidated scope of the consolidated
financial statements.
(3) Jiangsu Huaqu Wine Group Nantong Co. Ltd. Jiangsu Huaqu Wine Group Wuxi Co.
Ltd. the holding subsidiaries were liquidated and terminated on April 2020. From May
2020 they are no longer included in the consolidated scope of the consolidated financial
statements.
9. Engagement and disengagement of accounting firm
Accounting firm at present
Name of the domestic accounting firm Suyajincheng CPA LLP
Remuneration for the domestic accounting
firm (CNY 10000)
190.8
Consecutive years of the audit service
provided by the domestic accounting firm
14
Names of the certified public accountants
from the domestic accounting firm
Li Laimin Li Yan
Consecutive years of the audit service
provided by the certified public
accountants
Li Laimin (1 year) Li Yan (2 years)
Whether the accounting firm was changed in the current period.?
? Yes √ No ?
Engagement of any accounting firm for internal control audit financial adviser or sponsor
? Applicable √ N/A
10. Possibility of listing suspension and termination after
disclosure of this annual report
? Applicable √ N/A
11. Bankruptcy and reorganization
? Applicable √ N/A?
No such cases in the reporting period.
12. Material litigation and arbitration
? Applicable √ N/A?
No such cases in the reporting period.
13. Punishments and rectifications
? Applicable √ N/A?
No such cases in the reporting period.
14. Credit conditions of the company as well as its controlling
shareholder and actual controller
? Applicable √ N/A?
15. Implementation of any equity incentive plan employee
stock ownership plan or other incentive measures for
employees
? Applicable √ N/A?
16. Significant related-party transactions
16.1. Related-party transactions arising from routine operation
? Applicable √ N/A?
No such cases in the reporting period.
16.2. Related-party transactions regarding purchase or sales of assets
or equity interests
? Applicable √ N/A?
No such cases in the reporting period.
16.3. Related-partytransactions arising from joint investments in
external parties
? Applicable √ N/A?
No such cases in the reporting period.
16.4. Credits and liabilities with related parties
√Applicable □N/A?
There are no non-operational related creditor's rights and debt transactions.
16.5. Other significant related-party transactions
? Applicable √ N/A?
No such cases in the reporting period.
17. Significant contracts and their execution
17.1. Trusteeship contracting and leasing
17.1.1. Trusteeship
? Applicable √ N/A
No such cases in the reporting period.
17.1.2. Contracting
? Applicable √ N/A
No such cases in the reporting period.
17.1.3. Leasing
? Applicable √ N/A
No such cases in the reporting period.
17.2. Major guarantees
? Applicable √ N/A
No such cases in the reporting period.
17.3. Entrusted cash assets management
17.3.1. Entrust finance management
√ Applicable ? N/A
Entrust finance in the reporting period.
Unit:CNY10 000
Product type
Source of
entrust finance
Amount
Undue closing
balance
Overdue
outstanding
amount
Trust finance Owned Fund 1212041 1212041 0
Bank finance Owned Fund 391225 391225 0
Total 1603266 1603266 0
Information about significant amount of individual entrust finance or high-risk entrust
finance with principle nonguaranteed and poor liquidity.
√ Applicable ? N/A
Unit: CNY10000
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Avic Trust
Co.Ltd.
Trust
Avic Trust
apocalypse
[2018] No.561
Baohua
YihaoCollecti
ve Fund Trust
Plan
16000 Owned fund
2August
2019
1August
2021
Used to
issue loans
to
Shenzhen
Jushenghu
a Co. Ltd.
to
supplemen
t the
company's
liquidity
fund
gap;Payme
nt for the
constructio
n of
Guangzho
u Airport
High-end
Warehousi
ng Project.
Cash 9.40% 3008 1504 1508.12 0 Yes Yes
Chongqing
Trust
Co.Ltd.
Trust
Chongqing
Trust-Gusu
No.2
Collective
Fund Trust
Plan (Phase
V)
8752 Owned fund
30August2
019
23August
2021
Used to
issue trust
loans to
Suzhou
Wuxiang
Real
Estate Co.
Ltd. and
finally used
the
borrowed
Cash 8.00% 1388.81 700.16 786.27 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

funds for
the
developme
nt and
constructio
n of Block
No. 59
Changnan
Road
Southand
Wuxing
RoadEast
Suxiang
Cooperatio
n Zone
Xiangchen
g District
Suzhou
City
Jiangsu
Province
as well as
the
repayment
of
shareholde
r loans.
Chongqing
Trust
Co.Ltd.
Trust
Chongqing
Trust -Gusu
No.3
Collective
Fund Trust
Plan
7980 Owned fund
27Septemb
er 2019
7August
2021
Used to
issue trust
loan to
Suzhou
Evergrand
e Real
Estate
Cash 7.80% 1159.61 622.44 1016.83 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Developme
nt Co.
Ltd. and
finally used
for the
developme
nt and
constructio
n of Block
No. 60
Fangqiao
Road East
and
Chunqiu
Road
North
Huangdai
Town
Xiangchen
g District
Suzhou
City
Jiangsu
Province
as well as
the
repayment
of
shareholde
r loan.Zhongrong
Internation
al Trust
Co.Ltd.
Trust
ZhongrongTr
ust-Fengteng
No.56Collecti
ve Fund Trust
16000 Owned fund
15Novemb
er 2019
15Novem
ber 2021
Used
toissue
business
property
Cash 8.70% 2787.81 1392 1395.81 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Plan loan to
Nanchang
Wanda
City
Investment
Co. Ltd.
Chongqing
Trust
Co.Ltd.
Trust
Chongqing
Trust -Qirui
No.10Collecti
ve Fund Trust
Plan
15000 Owned fund
12Decemb
er 2019
8May
2021
Used to
participant
in
Chongqing
Trust
Hongrui
No.6
Collective
Fund Trust
Plan
Cash 7.90% 1665.49 1185 1077.86 0 Yes Yes
Chongqing
Trust
Co.Ltd.
Trust
Chongqing
Trust-
Zhangxin
No.2
Collective
Fund Trust
Plan
20000 Owned fund
3March
2020
7August
2021
Used for
"Chongqin
g Trust -
Kunming
Wanda
City
Project
Collective
Fund Trust
Plan
Phase I"
and will
eventually
be used for
Kunming
Wanda
City to
invest in
Cash 8.00% 2288.22 1328.22 1280.00 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

the
developme
nt and
constructio
n of
projects in
line with
the "432"
conditiona
nd to repay
its
developme
nt loans
and debts
FOTIC Trust
FOTIC-
Furong
No.160
Chengdu
Evergrande
Loan Project
Collective
Fund Trust
Plan(Phase
IX)
10000 Owned fund
13March
2020
13Septe
mber
2021
Used to
issue loans
to
Chengdu
Evergrand
e New
North City
Real
Estate Co.
Ltd. for the
developme
nt and
constructio
n of
Evergrand
e Chengdu
Caojiaxian
g Plaza
Block C
Project
Cash 8.20% 1233.37 658.25 635.78 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

FOTIC Trust
FOTIC-
Furong
No.160
Chengdu
Evergrande
Loan Project
Collective
Fund Trust
Plan(Phase
X)
10000 Owned fund
13March20
20
13
Septemb
er2021
Used to
issue loans
to
Chengdu
Evergrand
e New
North City
Real
Estate Co.
Ltd. for the
developme
nt and
constructio
n of
Evergrand
e Chengdu
Caojiaxian
g Plaza
Block C
Project
Cash 8.20% 1233.375 658.25 635.78 0 Yes Yes
Zhongrong
Internation
al Trust
Co.Ltd.
Trust
ZhongrongTr
ust- Rongzhu
No.220
Collective
Fund Trust
Plan
20000 Owned fund
24April
2020
27Februa
ry2022
Used for
transfer of
10% equity
of
Shanghai
Fengshun
Real
Estate Co.
Ltd held by
Evergrand
e Real
Estate
Group or
its
Cash 8.20% 3028.38 1127.78 1078.36 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

designated
third party;
Also used
for the
developme
nt and
constructio
n of Block
G of
Zhujiajiao
Residential
Area
Qingpu
District
Shanghai.
Chongqing
Trust
Co. Ltd
Trust
Chongqing
Trust-
Pengrui
No.1Collectiv
e Fund Trust
Plan
12000 Owned fund
27April202
0
18March
2022
Used to
issue a
trust loan
to
Baoneng
Automobile
Co. Ltd..
Baoneng
Automobile
Co. Ltd.
will mainly
use the
loan funds
for
workshop
constructio
n
production
equipment
Cash 7.90% 1792.11 644.12 615.55 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

procureme
nt and
other fund
purposes
approved
by the
trustee of
its "Xi 'an
Baoneng
New
Energy
Automobile
Parts
Production
Base"
project.
Avic Trust
Co.Ltd.
Trust
Avic Trust-
Apocalypse[2
019]No.721Ki
ds’ World
Cultural and
Travel
ServicesColle
ctive Fund
Trust Plan
7000 Owned fund
29April
2020
29April
2021
Used to
provide
financing
support for
the
constructio
n of
Changsha
"Kids’
World"
amusemen
t park and
the
purchase
of tourism
equipment
for the
borrower
Cash 8.20% 574 386.86 369.56 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Evergrand
e Tourism
Group Co.Ltd by
issuing
trust loans.
Avic Trust
Co. Ltd
Trust
Avic Trust-
Apocalypse[2
019]No.19
Nanning
Wuxiang
Lake Project
Collective
Fund Trust
Plan
15000 Owned fund
29April202
0
29April
2022
Used for
transfer of
20% equity
proceeds
of
Sunshine
City
Guangxi
held by
Fujian
Sunshine
andfollow-
updevelop
ment and
constructio
n of the
real estate
project of
Sunshine
City
Guangxi.
Cash 8.70% 2610 879.53 851.88 0 Yes Yes
Zhongrong
Internation
al Trust
Co.Ltd.
Trust
Zhongrong
Trust-
Fengying
No.90Collecti
ve Fund Trust
Plan
10000 Owned fund
30April
2020
30April
2021
Used for
the trustee
to
purchase
the specific
assets
proceeds
Cash 7.90% 790 530.27 380.93 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

of Huzhou
Xiangshen
g Hongjing
Real
Estate
Developme
nt Co.
Ltd. and
the
subscriptio
n fund is
specially
used for
the
developme
nt and
constructio
n of
"Xiangshen
g Xunyue"
project and
other
purposes
approved
by the
trustee.Zhongrong
Internation
al Trust
Co.Ltd.
Trust
Zhongrong
Trust- Junrui
No.175
Collective
Fund Trust
Plan
11000 Owned fund
12May
2020
12May
2021
Used to
issue trust
loan to
Fuzhou
Shengjing
Sunshine
City Real
Estate
Cash 8.20% 902 575.8 548.61 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Developme
nt Co.
Ltd. for the
follow-up
developme
nt and
constructio
n of
Sunshine
Wuyi
Garden
Project.
CITIC
Trust
Co.Ltd
Trust
CITIC Trust-
Light City
Kunming
Dianchi Lake
Half Mountain
Garden
Financing
Collective
Fund Trust
Plan
15000 Owned fund
19May
2020
19May
2021
Used to
transfer the
specific
assets
proceeds
of Block 7
of Kunming
Dianchi
Banshan
Garden
Project
held by
project
company
for the
developme
nt and
constructio
n of Block
7.
Cash 7.20% 1080 668.71 636.16 0 Yes Yes
MinmetalsI
nternationa
Trust
MinmetalsInte
rnational
10000 Owned fund
22May
2020
22May
2021
Used to
issue trust
Cash 8.30% 830 507.1 482.08 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

l Trust
Co.Ltd.
Trust-
Hengxin
Gongzhu
No.310Fengyi
ng No.2
Collective
Fund Trust
Plan
loans to Xi
'an
Chengmin
g Tourism
Developme
nt Co.
Ltd. and
finally be
used for
the
developme
nt and
constructio
n of the
Block B-02
of
Evergrand
e Cultural
Tourism
City
Project
located in
Qinhan
New Town
Block of
West Xian
New Area.Shaanxi
Internation
alTrust
Co.Ltd
Trust
Shaanxi
InternationalT
rust-
Evergrande
Hainan
Specific Debt
Collective
18000 Owned fund
28May
2020
28 May
2021
Used for
the
developme
nt and
constructio
n of Block
1601 of
Cash 8.40% 1512 898.92 853.35 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Fund Trust
Plan
Haikou
Meilisha
Project
under the
name of
New World
China Real
Estate
(Haikou)
Co. Ltd.
Industrial
Trust
Co.Ltd.
Trust
Industrial
Trust-
ZhidiI062(Jinli
ngGuanlan)
Collective
Fund Trust
Plan (Phase
IV)
15000 Owned fund
29May
2020
29May
2021
Used to
transfer
specific
assets
proceeds
from
"mortgage"
of the
18824.4
square
meters of
underlined
land of
Cuican
Jiangshan
Project
held by
Nanjing
Shirong
Real
Estate Co.
Ltd. After
the
financier
Cash 7.40% 1110 377.1 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

obtains the
transfer
price it is
specially
used to
replace
part of the
developme
nt loan of
Minsheng
Bank
under
Cuican
Jiangshan
Project and
the
constructio
n and
developme
nt of Block
G024
Project
(Phase I)
CITIC
Trust
Co.Ltd
Trust
CITIC Trust-
JIahe No.118
Evergrande
Guiyang New
World
Collective
Fund Trust
Plan
19000 Owned fund
29May
2020
29Novem
ber 2021
Used for
the
developme
nt and
constructio
n of
Guiyang
Evergrand
e Jinyang
New World
Block 4C
Cash 7.60% 2171.93 854.53 814.97 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

and 4D
project.Zhongrong
Internation
al Trust
Co.Ltd.
Trust
ZhongrongTr
ust- Fengying
No.91
Collective
Fund Trust
Plan
10000 Owned fund
2June
2020
2 June
2021
Used for
acquisition
of specific
assets
proceeds
of
"Xiangshen
g Jiuxi"
project of
Anjixiang
Shenghon
gjing Real
Estate
Developme
nt Co.
Ltd. and
the fundis
used for
the
developme
nt and
constructio
n of
"Xiangshen
g Jiuxi"
Cash 7.90% 790 458.85 359.29 0 Yes Yes
Zhongrong
Internation
al Trust
Co.Ltd.
Trust
Zhongrong
Trust-
Fengying
No.99
Collective
Fund Trust
Plan
10000 Owned fund
19 June
2020
19 June
2021
Used to
acquire
specific
assets
proceeds
of "Taixing
Future
Cash 7.90% 790 422.05 389.59 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

City"
project of
Taixing
Xiangrui
Real
Estate Co.
Ltd.
AvicTrust
Co.Ltd.
Trust
AvicTrust-
apocalypse
[2020] Pan
'an Lake
Ecological
Town Project
LoanCollectiv
e Fund Trust
Plan
14320 Owned fund
19 June
2020
19June
2022
Used to
issue trust
loans to
Evergrand
e Real
Estate
Group
Nanjing
Real
Estate Co.
Ltd. The
fund is
used for
the
developme
nt and
constructio
n of
Xuzhou
Evergrand
e Pan 'an
Lake
Ecological
Town
Housing
Project.
Cash 8.70% 2491.68 665.39 636.76 0 Yes Yes
CITIC Trust CITIC Trust- 7000 Owned fund 23June 12Novem Used to Cash 7.50% 729.25 274.73 244.59 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Trust
Co.Ltd.
Fuli
Hangzhou
Project
Collective
Fund Trust
Plan
2020 ber 2021 issue a
trust loan
to Zhejiang
Fuli Real
Estate
Developme
nt Co.
Ltd. for the
residential
and
apartment
developme
nt and
constructio
n of the
project in
Yuhang
District
Hangzhou
(Phase I
and Phase
II).
FOTIC Trust
FOTIC-
Furong
No.191
Collective
Fund Trust
Plan
10000 Owned fund 8July 2020
1 August
2022
Used for
the
developme
nt and
constructio
n of
Evergrand
e Tianjin
Shanshui
City
Project
(Block 4)
Cash 7.20% 1082.96 347.18 327.45 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

and the
repayment
of
shareholde
r loans.
Avic Trust
Co.Ltd.
Trust
Avic Trust -
Apocalypse[2
020]
No.81Sunac
Chongqing
Caijia Project
Loan
Collective
Fund Trust
Plan
8000 Owned fund
10July
2020
10
January
2022
Used to
issue
developme
nt and
constructio
n loan
forSunac
HanmingC
hongqing
Caijia
Yinghu
Ten-mile
Project.
Cash 7.40% 890.43 282.21 264.37 0 Yes Yes
AvicTrust
Co. Ltd
Trust
Avic Trust-
Tianji Huicai
No.3 Bond
Investment
Collective
Fund Trust
Plan
50000 Owned fund
14July
2020
21June
2021
Used for
investment
bank
deposits
(current
deposit
time
deposit
interbank
deposit)
etc.
Cash 4.55% 2131.64 1059.59 991.03 0 Yes Yes
Chongqing
Trust Co.Ltd.Trust
Chongqing
Trust- Jingrun
No.1
Collective
Fund Trust
8800 Owned fund
14July
2020
25July20
21
Used to
invest in
"Chongqin
g
Trust · Gus
Cash 7.40% 670.83 303.3 283.67 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Plan u No.1
Collective
Fund Trust
Plan".
During idle
period the
trust funds
can be
invested in
bank
deposits
bonds
bank
financial
products
directional
asset
manageme
nt plans of
securities
companies
asset
manageme
nt plans of
funds trust
products
trust
proceeds
and other
investment
s.Minmetals
Internation
al Trust
Trust
Minmetals
International
Trust-
15000 Owned fund
23July
2020
23July
2021
Used to
transferspe
cific assets
Cash 8.00% 1200 529.32 493.15 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Co.Ltd. Hengxin
Gongzhu
No.362-
Jingrong
No.23
Collective
Fund Trust
Plan
proceeds
of the
project
"west of
Longhusha
n Avenue
and north
of
Shangrao
Street (part
of Block
JLH601-
B08 and
B09) in
Jiulong
Lake
Honggutan
New Area
held by
Nanchang
Xinming
Real
Estate
Developme
nt Co.
Ltd. and
the
financier
uses the
transfer
price for
the
developme
nt and
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

constructio
n of the
target
project.Zhongrong
Internation
al Trust
Co.Ltd.
Trust
Zhongrong
Trust-
Fengteng
No.97
Collective
Fund Trust
Plan
10000 Owned fund
24July
2020
24July20
21
Used to
acquire
specific
assets
proceeds
of"Nanning
Yongjin
Bay Phase
II"Project
held by
Nanning
Senchi
Real
Estate Co.
Ltd.
Cash 7.70% 770 337.53 179.32 0
Yes
Yes
Avic Trust
Co.Ltd.
Trust
Avic Trust -
Apocalypse
[2020]
No.77Qingda
o Oriental
Movie Capital
loanCollective
Fund Trust
Plan
8800 Owned fund
24 July
2020
24 July
2021
Used
toissue a
installment
trust loan
to Oriental
Movie
Capital
Sunac
Investment
Co. Ltd.
and the
fund is
used for
the
developme
Cash 7.30% 642.4 281.6 262.24 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

nt and
constructio
n of Block
A-4-3
project of
Qingdao
"Oriental
Movie
Capital".
Zhongrong
Trust Co.Ltd
Trust
Zhongrong
Trust-
Rongzhu
No.339
Collective
Fund Trust
Plan
12000 Owned fund
29July
2020
29July
2021
Used to
issue a
trust loan
to Beijing
Fuhua
Real
Estate
Developme
nt Co.
Ltd. which
is used for
the
developme
nt and
constructio
n of Beijing
Evergrand
e Ligong
Project
(Phase IV)
Cash 7.60% 912 384.79 357.3 0 Yes Yes
China
Minsheng
Trust
Co.Ltd.
Trust
Minsheng
Trust- Zhixing
No.930
Chongqing
Aoyuan
7000 Owned fund
7August
2020
7Februar
y2022
Used to
acquire the
proceedsof
81% equity
of
Cash 8.70% 916 243.6 216.9 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Specific
Assets
Proceeds
Collective
Fund Trust
Plan
Shanghai
Aogang
held by
Aoyuan
Group
Chongqing
Real
Estate Co.
Ltd and
the fund
eventually
is used for
the
developme
nt and
constructio
n of the
large block
of Dapu
Aoyuan
Plaza
project.Shaanxi
Internation
alTrust
Co.Ltd
Trust
Shaanxi
InternationalT
rust- Agile
Hainan
Specific Debt
Collective
Fund Trust
Plan
15000 Owned fund
14August
2020
14August
2020
Used to
invest the
specificdeb
t of the
debtor in
Hainan
Yajule
Real
Estate
Developme
nt Co.
Ltd.The
Cash 7.30% 1095 417 384 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

fund is
used for
the
developme
nt and
constructio
n of high-
rise
projects
(Phase I
and Phase
II) in
Hainan
Qingshui
Bay Area
B09and
26 high-
rise
residential
buildings in
B11-1 and
B11-2
under the
name of
Hainan
Agile.
Minmetals
Internation
al Trust
Co.Ltd.
Trust
Minmetals
Trust -
Hengxing
Gongzhu
No.324-
Xingcheng
No.30
Collective
20000 Owned fund
14August
2020
14August
2021
Used to
transfer
specific
assetsproc
eeds
formed by
Danfu
Project of
Cash 8.00% 1600 609.32 561.1 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Fund Trust
Plan
Yangguan
g City
Middle
Lantang
Road 108
District
Duanzhou
District
Zhaoqing
City held
by
Zhaoqing
Haoyang
Real
Estate
Developme
nt Co. Ltd.
The trust
fund is
used for
the
developme
nt and
constructio
n of
Yangguan
g City
Danfu
Project
(Block A
and Block
B) on the
south of
Middle
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Lantang
Road 108
District
Duanzhou
District
Zhaoqing
City.
China
Minsheng
Trust
Co.Ltd.
Trust
Minsheng
Trust- Zhixing
No.1047
Baoneng
Investment
and Finance
Project
Collective
Fund Trust
Plan
20000 Owned fund
21 August
2020
21
August
2022
Used to
transfer
6% equity
proceeds
of
Shenzhen
Jushenghu
a Co.Ltd..
held by
Shenzhen
Baoneng
Investment
Group. The
fund is
used to
supplemen
t working
capital and
repayment
of loans
from
financial
institutions
bond
financing
shareholde
r and
Cash 8.90% 3560 643.73 614.66 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

affiliated
company
etc. arising
from the
need to
supplemen
t working
capital for
Baoneng
Investment
and its
subsidiarie
s
Avic Trust
Co.Ltd.
Trust
Avic Trust-
Tianji Huicai
No.3 Bond
Investment
Collective
Fund Trust
Plan
50000 Owned fund
27 August
2020
24 May
2021
Used for
investment
in bank
deposits
(current
deposit
time
deposit
and inter-
bank
deposit);R
everse
bond
repurchase
inter-bank
certificates
of deposit
bonds and
bills in the
exchange
and inter-
Cash 4.30% 1590.41 742.19 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

bank
markets;Bo
nd funds
(including
convertible
bond
funds) and
bond
segregated
accounts;C
ash
manageme
nt financial
instrument
s;Other
inter-bank
or
exchange
fixed
income
products
with high
security
permitted
by laws
regulations
and
regulatory
authorities
Zhongrong
Trust
Co.Ltd.
Trust
Zhongrong
Trust- Huijujin
No.1
Monetary
Collective
50000 Owned fund
27 August
2020
24 May
2021
Used to
invest in
bank
deposits
money
Cash 6.10% 2256.16 1052.88 1052.88 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Fund Trust
Plan
market
funds
bond
funds
exchange
and inter-
bank
market
bonds and
fixed
income
products.
Chongqing
Trust
Co.Ltd.
Trust
Chongqing
Trust-
Jinyang No.1
Collective
Fund Trust
Plan
20000 Owned fund
27 August
2020
27
February
2022
Used for
operation
turnover
and
repayment
of debts of
the
borrower
Shenzhen
Jushenghu
a Co. Ltd.
or its
subsidiarie
s
Cash 7.80% 2346.41 538.52 491.51 0 Yes Yes
China
Minsheng
Trust
Co.Ltd.
Trust
Minsheng
Trust-
Zhongmin
Yongfeng
No.1
Collective
Fund Trust
Plan
50000 Owned fund
28 August
2020
25 May
2021
Used to
invest in
bonds
money
market
instrument
s money
funds
Cash 5.65% 2089.73 967.47 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

bond funds
traded on
exchanges
and inter-
bank
markets
Shanghai
Trust
Co.Ltd.
Trust
Shanghai
Trust- Ruby
An’xin
Wenjian
Series
(Shanghai
Trust-H-6001)
30000 Owned fund
3
September
2020
8 June
2021
Used to
invest in
money
market
instrument
s including
cash bank
deposits
large
negotiable
certificates
of deposit
and
reverse
repurchase
of bonds
Cash 4.60% 1051.07 449.92 0 0 Yes Yes
Shanghai
Trust
Co.Ltd.
Trust
Shanghai
Trust- Ruby
An’xin
Wenjian
Series
(Shanghai
Trust-H-6001)
20000 Owned fund
23
September
2020
15 June
2021
Used to
invest in
money
market
instrument
s including
cash bank
deposits
large
negotiable
certificates
of deposit
Cash 4.60% 667.95 249.53 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

and
reverse
repurchase
of bonds
Shaanxi
Internation
alTrust
Co.Ltd
Trust
Shaanxi
InternationalT
rust- Youzhai
No.28
Nantong
Haian
Collective
Fund Trust
Plan
4000 Owned fund
24
September
2020
24
Septemb
er 2022
Used to
invest in
specific
debt of the
debtor of
Nantong
Changhai
Constructio
n
Investment
Developme
nt
Co.Ltd..Th
e fund is
used to
supplemen
t the funds
required by
the
infrastructu
re
constructio
n and
greening
and
renovation
projects in
the market
field
Cash 7.00% 560 75.18 67.67 0 Yes Yes
Avic Trust Trust Avic Trust- 6000 Owned fund 25 24 Used to Cash 8.50% 1018.6 135.53 120.16 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Co.Ltd. Apocalypse[2
020] No.408
Nanjing
Banqiao
Project Equity
Investment
Trust Plan
September
2020
Septemb
er 2022
increase
capital and
share of
Nanjing
Hengze
Real
Estate
Developme
nt Co. Ltd
and
Nanjing
Hengshen
g Real
Estate
Developme
nt Co. Ltd
through
Shenzhen
Hangqiao
Investment
Partnershi
p (Limited
Partnershi
p) and the
fund finally
is used for
the
developme
nt and
constructio
n of
Nanjing
Lishui
Block
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

under the
company's
name
Chongqing
Trust
Co.Ltd.
Trust
Chongqing
Trust-
Pengrui No.3
Collective
Fund Trust
Plan
10000 Owned fund
13 October
2020
18 March
2022
Used to
issue a
trust loan
to
Shenzhen
Jushenghu
a Co. Ltd.
and the
loan fund
is mainly
used for
operation
turnover
such as
repayment
of
financing
from
financial
institutions
and other
fund
purposes
approved
by the
trustee.
Cash 7.60% 1084.82 164.49 141.59 0 Yes Yes
Shanghai
Trust
Co.Ltd.
Trust
Shanghai
Trust- Xinyue
Fengli
Collective
Fund Trust
30000 Owned fund
14 October
2020
9 June
2021
Used to
invest in
bonds
including
but not
Cash 4.50% 880.27 288.49 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Plan limited to
governmen
t bonds
finance
debt
(including
subordinat
ed debt
and hybrid
capital
debt)
corporate
bonds
corporate
bonds
(including
non-public
corporate
bonds)
central
bank bills
(very)
short-term
medium-
term notes
directional
(PPN)
convertible
bond
financing
tools/excha
ngeable
bonds
project
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

yield
bonds
asset-
backed
securities
(notes) etc
Shanghai
Trust
Co.Ltd.
Trust
Shanghai
Trust- Xinyue
Fengli
Collective
Fund Trust
Plan
20000 Owned fund
21 October
2020
16 June
2021
Used to
invest in
bonds
including
but not
limited to
governmen
t bonds
finance
debt
(including
subordinat
ed debt
and hybrid
capital
debt)
corporate
bonds
corporate
bonds
(including
non-public
corporate
bonds)
central
bank bills
(very)
short-term
Cash 4.50% 586.85 175.07 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

medium-
term notes
directional
(PPN)
convertible
bond
financing
tools/excha
ngeable
bonds
project
yield
bonds
asset-
backed
securities
(notes) etc
Avic Trust
Co.Ltd.
Trust
Avic Trust-
Apocalypse[2
019] No.116
Kunming
Evergrande
Yunxi Manor
Collective
Fund Trust
Plan
15000 Owned fund
6
November
2020
6
Novembe
r 2022
Used to
issue a
trust loan
to Yunnan
Shangju
Real
Estate Co.
Ltd. and it
specifically
is used for
the
developme
nt and
constructio
n of
Kunming
"Evergrand
Cash 8.00% 2433.33 180.82 146.67 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

e Yunxi
Manor"Proj
ect in
Block 5
11 12 and
13
Huarun
Trust
Co.Ltd.
Trust
Huarun Trust-
Dingxin
No.240 Fuli
Taiyuan
Project
Collective
Fund Trust
Plan
10000 Owned fund
17
November
2020
17
Novembe
r 2021
Used to
issue a
trust loan
to Taiyuan
Fuli
Shengda
Real
Estate
Developme
nt Co.
Ltd. for the
developme
nt and
constructio
n of Block
A B C E
and X2
projects in
Jinxi City
Cash 6.90% 690 83.18 64.27 0 Yes Yes
Minmetals
Internation
al Trust
Co.Ltd.
Trust
Minmetals
Trust-
Hengxin
Gongzhu
No.318- Xinjiu
No.77
Collective
Fund Trust
Plan
9500 Owned fund
20
November
2020
20
Novembe
r 2021
Used to
transfer
specific
assets
proceeds
formed by
Block A1-2
"Evergrand
e Jiulong
Cash 7.90% 750.5 84.3 61.68 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Bay"
located in
Guandu
District
Kunming
City which
is held by
Kunming
Henghai
and it is
specifically
used for
the
constructio
n and
developme
nt of the
target
blockin line
with the
“432”
condition
CITIC
Trust
Co.Ltd.
Trust
CITIC Trust-
Country
Garden
Suyun No.4
Finance
Collective
Fund Trust
Plan
8000 Owned fund
25
November
2020
25 May
2022
CITIC
Trust offers
financing
to Nantong
Ruixing in
the mode
of asset
proceeds
transfer
and
repurchase
and
Cash 6.70% 801.8 52.87 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Nantong
Ruixing
uses the
trust fund
for the
developme
nt and
constructio
n of
Country
Garden
Xingchen
Garden
Project in
line with
the "432"
condition
Avic Trust
Co.Ltd.
Trust
Avic Trust-
Tianji Huicai
No.3 Bond
Investment
Collective
Fund Trust
Plan
50000 Owned fund
30
November
2020
31 May
2021
Used to
invest in
bank
deposits
(current
deposit
time
deposit
and inter-
bank
deposit);R
everse
bond
repurchase
inter-bank
certificates
of deposit
Cash 4.45% 1109.45 188.97 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

bonds and
bills in the
exchange
and inter-
bank
markets;Bo
nd funds
(including
convertible
bond
funds) and
bond
segregated
accounts;C
ash
manageme
nt financial
instrument
s;Other
inter-bank
or
exchange
fixed
income
products
with high
security
and
permitted
by laws
regulations
and
regulatory
authorities
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Minmetals
Internation
al Trust
Co.Ltd.
Trust
Minmetals
Trust-
Hengxin
Gongzhu
No.372-
Dingning
No.10
Collective
Fund Trust
Plan
8000 Owned fund
4
December
2020
4
Decembe
r 2022
Used to
transfer
specific
assets
proceeds
of Haidian
Northwest
Wang
Block
Project
held by
Beijing
Minghai
Real
Estate Co.
Ltd. and
the fund is
ultimately
used for
the
developme
nt and
constructio
n of the
target
project.
Cash 5.47% 926.29 32.37 19.45 0 Yes Yes
China
Minsheng
Trust
Co.Ltd.
Trust
Minsheng
Trust-
Zhongmin
Yongfeng
No.1
Collective
Fund Trust
Plan
20000 Owned fund
18
December
2020
15 June
2021
Used to
invest in
bonds
money
market
instrument
s money
funds
Used 5.30% 519.84 37.75 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

bond
funds etc.traded on
exchanges
and inter-
bank
markets
China
Minsheng
Trust
Co.Ltd.
Trust
Minsheng
Trust-
Zhongmin
Yongfeng
No.1
Collective
Fund Trust
Plan
60000 Owned fund
22
December
2020
22 June
2021
Used to
invest in
bonds
money
market
instrument
s money
funds
bond
funds etc.traded on
exchanges
and inter-
bank
markets
Cash 5.30% 1585.64 78.41 0 0 Yes Yes
Jiangsu
Trust
Co.Ltd.
Trust
Jiangsu
Trust- An’xin
Tianli No.1
Collective
Fund Trust
Plan
20000 Owned fund
31
December
2020
24 June
2021
Used for all
kinds of
deposits
all kinds of
reverse
repurchase
bonds and
bonds
asset-
backed
securities
money
Cash 4.80% 460.27 0 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

market
funds
bond
funds
other
standardiz
eddebt
assets and
trust
securities
funds
insurance
banking
and futures
and fixed
income
asset
manageme
nt products
issued by
subsidiarie
s where
investment
scope in
standardizi
ng asset
approved
by laws
and
regulations
or
regulatory
body
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

Zhongrong
Trust
Co.Ltd.
Trust
Zhongrong
Trust- Huijujin
No.1
Monetary
Collective
Fund Trust
Plan
50000 Owned fund
31
December
2020
29 June
2021
Used to
invest in
bank
deposits
money
market
funds
bond
funds
bonds in
the
exchange
and inter-
bank
market
fixed
income
products
(including
but not
limited to
reverse
repurchase
with a
maturity of
less than
one year
and other
fixed
income
products
approved
by the
client) and
Cash 6.10% 1479.45 0 0 0 Yes Yes
Name of
trustee
Trustee
type
Product type Amount
Source of
funding
Commence
ment date
Terminati
on date
Funds
allocation
Method of
Remunerat
ion
Referenc
ed
annualize
d return
prospectiveearnings(ifapplicable)
Actual
profit &
loss for the
period
Actual
principal
amount
recovered
for the
period
Amount
reserved for
impairment
(if
applicable)
Whether it
go through
statutory
procedures
Whether
there will
be entrust
finance
plans in
the future
Summary
and
reference
(ifapplicable

other
purposes
as
stipulated
in the
contract
Total 1022152 -- -- -- -- -- -- 76326.13 28337.37 -- 0 -- -- --
Entrust finance expected to be failed to recover principle or other situation leading to impairment
? Applicable √ N/A
17.3.2 Entrust loans
? Applicable √ N/A
No such cases in the reporting period.
17.4 Daily operation significant contracts
? Applicable √ N/A
No such cases in the reporting period.
17.5 Other significant contracts
? Applicable √ N/A
No such cases in the reporting period.
18. Social responsibilities
18.1 Information about taking social responsibilities
The information about taking social responsibilities disclosed in 2020 Annual Social Responsibilities Report in detail on www.cninfo.com.cn.
18.2Information about targeted poverty alleviation
18.2 18.2.1 Targeted poverty alleviation plan
According to the call of Suqian municipal party committee and municipal government on
poverty alleviation with the work of "guacun baohu" and "three into three help" the
Company actively takes actual action to practice the enterprise spirit of "serving the
country and the people" and takes bravely social responsibility.According to the overall
work arrangement of "guacun baohu" by Suqian municipal government the Company
supports Qiuzhuang village in Zhenglou branch Yanghe new district and is responsible
for the assistance work for 177 low-income households in Daguo village and Taiping
village Zhenglou branch among which 88 households are in Taiping village and 89 in
Daguo village. Combined with the local actual condition of Zhenglou branch the
Company makes the support plan carefullyto complete the support mission. It promotes
the rural development and enhances the farmers' income strengthens the relationship
between cadres and masses and makes due contributions to “liang ju yi gao” work.
18.2.2 Summary of annual targeted poverty alleviation
In 2020 each task for "guacun baohu" was completed successfully. In 2020 the
Company conducted in-depth field researches continued to follow up the village
collective economic income increase projects and invested CNY 200000 in Qiuzhuang
Village for land transfer and planning rice-shrimp farming project.The village collective
economy has achieved sustainable development. The Company actively publicized local
policies for the benefit of the people organized regular poverty-alleviation visits carried
out special care activities for the Spring Festival and the epidemic and sent holidaywarm
anti-epidemic knowledge and related materials to low-income farmers. By the end of
2020 all 177 low-income households have been lifted out of poverty.The Company
continues to participate in the "group" poverty alleviation and education aid in Suqian
donating CNY 4 million to help poor students realize their dreams. The Company was
awarded "Group" charity enterprise in the "group" poverty alleviation and education aid
activity and "Suqian Charity Award" in Suqian in 2020.
18.2.3 Poverty alleviation achievement
Indicator Unit Amount/Implementation situation
A.Overall situation —— ——
Including:1.Fund CNY 10000 420
2.Goods converted into cash CNY 10000 11
3.Establishing card for archives of poor
people out of poverty
Person 716
B. Input by project —— ——
1.Industrial development —— ——
2.Transfer and employment —— ——
3.Removal and relocation —— ——
4.Educational poverty alleviation —— ——
Including: 4.1 investment amount to
subsidize poor students
CNY 10000 400
4.2 Number of poor students subsidized Person 2000
5.Health poverty alleviation —— ——
6.Ecological protection —— ——
7.Basic guarantee —— ——
8.Social poverty alleviation —— ——
8.2 investment amount of fixed-point
poverty alleviation work
CNY 10000 11
9.Other project —— ——
Including:9.1.Item Item 1
9.2.Input amount CNY 10000 20
9.3. The number of registered impoverished
people to be out of poverty
Person 716
C. Awards(content and level) —— ——
Suqian
"Group" charity enterprise in the "group"
poverty alleviation and education aid
activity and "Suqian Charity Award" in
Suqian in 2020
18.2.4 Follow-up poverty alleviation plan
After several years of support the collective economy of Qiuzhuang Village has achieved
sustainable income increase the low-income farmers in Dagou and Taiping Village have
achieved comprehensive poverty alleviation and the consolidation of the achievements
of "guacun baohu" has become the top priority in the next stage of poverty alleviation
work. In 2021 the Company will continue to implement the policy unremittingly.The
investment will not be reduced.The support team will not withdraw to ensure that the
work of "guacun baohu" continues to be carried out continuously and the Company
resolutely keep the fruits of poverty alleviation victory.
First continue to follow up the village collective economic assistance projects. The
Company actively connects with the village "two committees" team members discusses
poverty alleviation projects focuses on Qiuzhuang village collective transfer of land and
grain farmers jointly set up grain planting base further plans and implements collective
economic projects. With the help of the Company's production and management platform
it will coordinate different stakeholders with wisdom and efforts to expand channels of
assistance and unblock channels of production and marketing and to improve the
autonomy of sustainable development. The Company will help and revitalize the village
collective economy and form project experience that can be referred to and promoted
promote other projects form an initial poverty alleviation industry and lay an important
foundation for continuing to promote the revitalization of rural industries.Second consolidate and expand the achievements of low-income farmers in poverty
alleviation.In the process of poverty alleviation visits timely adjustments and
improvements were made to help farmers out of poverty according to the changes in their
situations so as to reduce the dependence of low-income farmers on external help. The
Company will focus on rural households with relatively low incomes and the elderly the
weak the sick and the disabled and increase assistance to ensure that all registered
poor people under the current standards continue to lift themselves out of
poverty.Through in-depth investigation the Company revitalizes the rural human capital
strengthen the excavation and cultivation of local talents in rural areas cultivate a batch
of local experts so that they can serve the village collective economic projects nearby
and drive the employment of low-income farmers.
18.3 Information about environment protection
Whether the listed company and its subsidiaries belong to heavy polluting industries prescribed by the environmental protection departments
√Yes?No
Company
name
Name of main
pollutant and
particular
pollutant
Discharge
type
Amount of
discharge
outlet
Distribution
of discharge
outlet
Emission
concentration
Pollution discharge
standard
Total emission
Approved total
emission
Excessive
discharge
Jiangsu
Yanghe
Distillery Co.
Ltd.
COD
Ammonia
nitrogen
Total
phosphorusTot
al
nitrogen
Indirect discharge 1 Within site
COD:60.7mg/L;Amm
onia
nitrogen:1.11mg/L;T
otal phosphorus:
1.53mg/L; Total
nitrogen:22.6mg/L
COD:400mg/L;Amm
onia
nitrogen :30mg/L;Tot
al phosphorus:
3mg/L;Total
nitrogen: 50mg/L
COD:91.47 ton;
Ammonia
nitrogen:1.52ton;Tot
al phosphorus:
2.00tons; Total
nitrogen:35.06 tons
COD:454.7 ton per
year;Ammonia
nitrogen:74.4 tons
per year;Total
phosphorus:2.07
tons per year; Total
nitrogen:37.3 tons
per year
No
Jiangsu
Shuanggou
Distillery
Stock
Co.Ltd.
COD
Ammonia
nitrogen
Total
phosphorusTot
al
nitrogen
Indirect discharge 1 Within site
COD:75mg/L;Ammo
nia
nitrogen:3.5mg/L;Tot
al phosphorus:
2.2mg/L; Total
nitrogen:20mg/L
COD:400mg/L;Amm
onia
nitrogen:35mg/L;Tot
al phosphorus:8
mg/L;Total
nitrogen:45 mg/L
COD:47.63 tons;
Ammonia
nitrogen :2.22 tons;
Total
phosphorus:1.39mg
/L;Total
nitrogen:12.70mg/L
COD:356.48 tons per
year;Ammonia
nitrogen:31.19 tons
per year; Total
phosphorus:7.129
tons per year; Total
nitrogen:40.104 tons
per year
No
Jiangsu
Yanghe
Distillery Co.
Ltd. Siyang
Branch
COD
Ammonia
nitrogen
Total
phosphorusTot
al
nitrogen
Indirect discharge 1 Within site
COD:125mg/L;Amm
onia
nitrogen :2.8mg/L;To
tal phosphorus:1.8
mg/L; Total
nitrogen:16mg/L
COD:400mg/L;Amm
onia
nitrogen :30mg/L;Tot
al phosphorus:3
mg/L; Total
nitrogen:40 mg/L
COD:83.49 tons;
Ammonia
nitrogen :1.87 tons;
Total
phosphorus:1.20mg
/L;Total
nitrogen:10.69mg/L
COD:672 tons per
year;Ammonia
nitrogen:42 tons per
year;Total
phosphorus:5tons
per year; Total
nitrogen:58.5 tons
per year
No
Guizhou COD After treatment up 1 Within site COD: COD;100mg/L;Amm COD:1.94tons;Amm COD:2.057 tons per No
Company
name
Name of main
pollutant and
particular
pollutant
Discharge
type
Amount of
discharge
outlet
Distribution
of discharge
outlet
Emission
concentration
Pollution discharge
standard
Total emission
Approved total
emission
Excessive
discharge
Guijiu
Co.Ltd.
Ammonia
nitrogen
Nitrogen oxides
Sulfur dioxide
to the standards 32mg/L;Ammonia
nitrogen:0.402mg/L;
Nitrogen
oxides:25mg/m3;Sul
fur
dioxide:11.8mg/m3
onia
nitrogen:10mg/L;
Nitrogenoxides:200
mg/m3;Sulfur
dioxide :50mg/m3
onia nitrogen:0.24
tons ;Nitrogenoxide
s:0.06 tons;Sulfur
dioxide :0.02tons
year;Ammonia
nitrogen:0.308 tons
per year;Nitrogen
oxides:0.06244 tons
per year
Hubei
Lihuacun
Distillery
Co.Ltd.
COD
Ammonia
nitrogen
Indirect discharge 1 Within site
COD:26.0mg/L;Amm
onia
nitrogen:0.30mg/L
COD:400mg/L;Amm
onia
nitrogen:30mg/L
COD:0.14tons ;Am
monia
nitrogen:0.002 tons
COD:12 ton per
year;Ammonia
nitrogen:0.72 tons
per year
No
Construction and operation of pollution prevention and control facilities
(1) Jiangsu Yanghe Distillery Co. Ltd.: The sewage treatment station was built in 2012. The project total investment is CNY 96 million and it covers an
area of 19000 square meters. Its designed capacity is 10000 tons per day. The sewage treatment adopts physical treatment method chemical
treatment method and anaerobic biological treatment method aerobic biological treatment method which achieves the treatment of high-
concentration waste water of 250 tons per hour. It implements the"Fermentation Alcohol and Liquor Industrial Pollutants Emission Standards
CB27631-2011" Indirect Emissions Standards. In 2020 CNY 12.26 million was spent on sewage treatment operations. It treated 1.52 million tons of
wastewater and the discharge concentrations of various pollutants are lower than the national discharge standards.The biogas boiler room was built
and the biogas produced by anaerobic fermentation of sewage treatment is all used for biogas boiler combustion.
(2) Jiangsu Shuanggou Distillery Stock Co.Ltd.: The sewage treatment station was built in 2013. The project total investment is CNY 42.50 million
and it covers an area of 15000 square meters. Its designed capacity is 5400 tons per day. The sewage treatment adopts anaerobic tower UASB
AAO secondary sedimentation tank and dephosphorization tank treatment process and implements "Shuanggou Town Sewage Treatment Plant
Takeover Standard". In 2020 the anaerobic tank of sewage treatment facilities and equipment was repaired and cleaned and the deodorant system
was maintained and upgraded and pollution equipment and facilities in the Qu-making workshop was reformed. In 2020 CNY 13 million was invested
and it treated 635100 tons of wastewater and the discharge concentration of various pollutants is lower than the national discharge standard. The
biogas boiler room was built and the biogas produced by anaerobic fermentation of sewage treatment is all used for biogas boiler combustion.
(3) Jiangsu Yanghe Distillery Co. Ltd. Siyang Branch: The sewage treatment station was built in 2015. The project total investment is CNY 50 million
and it covers an area of 15000 square meters. Its designed capacity is 6000 tons per day.In terms of process treatment EGSB+AAO+deep
treatment technology is adopted. The high-concentration waste water can be treated up to 250 tons per hour. After treatment all indicators reached
the indirect emission standard of "Fermented Alcohol and Liquor Industrial Pollutant Emission Standard CB27631-2011". In 2020 a total of CNY
11.32 million was invested to further optimize the effluent index through the implementation of measures such as improvement of aerobic cooling
equipment fan improvement and deodorization equipment. A total of 667900 tons of wastewater was treated and the discharge concentration of
various pollutants is lower than the national discharge standard.The biogas boiler room was built and the biogas produced by anaerobic fermentation
of sewage treatment is all used for biogas boiler combustion.
(4) Guizhou Guijiu Co.Ltd.: The sewage treatment station was built in 2013. The project total investment is CNY 3.58 million and it covers an area of
600 square meters. Its designed capacity is 220 tons per day. The wastewater was treated by UASB anaerobic/contact oxidation aerobic process. The
discharge of waste water is in accordance with the Discharge Standards for Water Pollutants in Fermented Alcohol and Liquor Industry GB27631-
2011Table 2 Emission Standards. At the same time an online detection system is installed and the facilities are in good condition. The discharge
concentration of various pollutants is lower than the national discharge standard in 2020.The boiler uses gas-fired boiler and its fuel is natural gas.
(5) Hubei Lihuacun Distillery Co.Ltd.: The sewage treatment station was built in 2020. The project total investment is CNY 4.76 million and it covers
an area of 702 square meters.The production and living wastewater was treated by AAO process.Its designed capacity is 240 tons per day. The
discharge of waste water is in accordance with the Discharge Standards for Water Pollutants in Fermented Alcohol and Liquor Industry GB27631-
2011Table 2 Emission Standards. The discharge concentration of various pollutants is lower than the national discharge standard in 2020.The boiler
uses gas-fired boiler and its fuel is natural gas.
Environmental impact assessment of construction projects and other administrative permits for environmental protection
The Company and each subsidiary’s construction project environmental impact reports and "three at the same time" acceptance materials pollutant
discharge permit and other materials are complete.
Emergency plan for environmental emergencies
The Company and its subsidiaries have made emergency plans for environmental
emergencies among which the Company and Shuanggou Distillery have filed with
Jiangsu Province Environmental Protection Department. Siyang Branch of the Company
has filed with Siyang Town Environmental Protection Bureau. Guijiu Companyhas filed
with Xiuwen Town Environmental Protection Bureau which is managed by Guizhou
Province Environmental Emergencies Center. Lihuacun Distillery has filed with Yunyang
District Environmental Protection Bureau.
Environmental self-monitoring programme
(1) The Company has installed COD ammonia nitrogen total nitrogen total phosphorus
PH online monitoring instruments conducted daily manual sampling and self-testing
monthly commissioned a third-party qualification agency to carry outa sampling
inspection;
(2) Shuanggou Distillery has installed COD ammonia nitrogen total nitrogen total
phosphorus PH online monitoring instruments conducted daily manual sampling and
self-testing monthly commissioned a third-party qualification agency to carry out a
sampling inspection;
(3) Siyang Branch of the Company has installed COD ammonia nitrogen total nitrogen
total phosphorus PH online monitoring instruments conducted daily manual sampling
and self-testing quarterly commissioned a third-party qualification agency to carry out a
sampling inspection;
(4)Guijiu Company has installed COD ammonia nitrogen total nitrogen total phosphorus
PH online monitoring instruments conducted daily manual sampling and self-testing
quarterly commissioned a third-party qualification agency to carry out a sampling
inspection;
(5)Lihuacun Distillery monitors wastewater discharge index daily and entrusts a third-
party qualification agency to monitor it every six months.Other environmental information that should be made public
N/A
Other environmental related information
During the reporting period Shuanggou Distillery was awarded the title of "Jiangsu Green
Factory" and Shuanggou Distillery and Siyang Branch of the Company were also
awarded the title of "2020 Suqian Environmental Protection and Green Trusted
Enterprise".
19. Other significant events
√ Applicable ? N/A
1. The Company indirectly held partnership share of Jiangsu Jiequan Emerging Industry
Development Fund (Limited Partnership) via Jiangsu Xinghe Investment Management
Co.Ltd. and Nanjing Xingnahe Venture Capital Investment partnership (Limited
Partnership). Jiangsu Jiequan Emerging Industry Development Fund (Limited
Partnership) completed fund-raising and put on record in AMAC. The record numbers are
SCF515 and SCL005. It was disclosed in detail on the Announcement of cooperative
investment with professional investment institutions (No: 2017-021) on 30 December
2017 and the Announcement of progress of cooperative investment with professional
investment institutions (No: 2018-011) on 12 April 2018.
2. Su Wine Wealth Management Co. Ltd. a wholly-owned subsidiary of the Company
subscribed the partnership shares of Suzhou Danqing Phase II Innovative
Pharmaceutical Industry Investment Partnership (limited partnership). Danqing Phase II
completed fund-raising and put on record in AMAC. The record number is SED720. For
details please refer to theAnnouncement on cooperation and investment with
professional investment institutions (Announcement No: 2018-021) and Announcement
on cooperation Announcement on cooperation andinvestment with professional
investment institutions (Announcement No: 2018-030) and Announcement on
cooperation andinvestment with professional investment institutions (Announcement No:
2019-004)disclosed by the Company on 28 April 201816 November 2018 and 11 April
2019 respectively.
3. Jiangsu Yanghe Investment Management Co.Ltd. subscribed the partnership shares
of Panmao (Shanghai) Investment Center (limited partnership). For details please refer
to the Announcement on cooperation and investment with professional investment
institutions (Announcement No: 2018-025) disclosed by the Company on 22 June 2018.
4. Jiangsu Yanghe Investment Management Co.Ltd. subscribed the partnership shares
of Jiangsu Zijin Hongyun Health Industry Investment Partnership (limited partnership)
Suqian Yida Industry Venture Capital Fund (limited partnership) and Hunan Huaye
Tiancheng Venture Capital Partnership (limited partnership). For details please refer to
the Announcement on cooperation and investment with professional investment
institutions (Announcement No: 2019-002) disclosed by the Company on 28 March 2019
Announcement on participating in Suqian Yida Industrial Venture Capital Fund and
related transaction (Announcement No: 2019-012) disclosed by the Company on 30 April
2019 and Announcement on the subscription of Hunan Huaye Tiancheng Venture
Capital Fund (Announcement No: 2019-021) disclosed by the Company on 6 September
2019.
5. Jiangsu Yanghe Investment Management Co.Ltd.subscribed the partnership shares of
Nanjing Xingna Heyuan Venture Capital Partnership (Limited Partnership) Suzhou
Zhongxin Xingfu Shuzhi Venture Capital Partnership (Limited Partnership) Nanjing
Hongyang Equity Investment Partnership (Limited Partnership). For details please refer
to the Announcement on cooperation and investment with professional investment
institutions (Announcement No: 2020-031) disclosed by the Company on 12August 2020
Announcement on the subscription of Suzhou Zhongxin Xingfu Shuzhi Venture Capital
Fund(Announcement No: 2019-035) disclosed by the Company on 19October 2020
Announcement on the subscription of Nanjing Hongyang Equity Investment
Fund(Announcement No: 2020-038) disclosed by the Company on 4 November 2020.
20. Significant events of subsidiaries
? Applicable √ N/A
Section VI Changes in Shares and Information about Shareholders
1. Changes in shares
1.1 Changes in shares
Unit:Share
Before Changes in this year ( + - ) After
Number Proportion
Issuance of
new shares
Bonus
shares
Capitalization of
capital reserves
Other Subtotal Number Proportion
I.Restricted shares 258048426 17.12% 0 0 0 1421297 1421297 259469723 17.22%
1.Shares held by the state 0 0.00% 0 0 0 0 0 0 0.00%
2.Shares held by state-owned
corporations
0 0.00% 0 0 0 0 0 0 0.00%
3.Shares held by other domestic
investors
258048426 17.12% 0 0 0 1421297 1421297 259469723 17.22%
Including:Shares held by domestic
corporations
249480000 16.55% 0 0 0 0 0 249480000 16.55%
Shares held by domestic individuals 8568426 0.57% 0 0 0 1421297 1421297 9989723 0.67%
4.Shares held by foreign investors 0 0.00% 0 0 0 0 0 0 0.00%
Including: Shares held by foreign
corporations
0 0.00% 0 0 0 0 0 0 0.00%
Shares held by foreign individuals 0 0.00% 0 0 0 0 0 0 0.00%
II.Non-restricted shares 1248939574 82.88% 0 0 0 -1421297 -1421297 1247518277 82.78%
1.CNY common shares 1248939574 82.88% 0 0 0 -1421297 -1421297 1247518277 82.78%
2.Domestically listed foreign shares 0 0.00% 0 0 0 0 0 0 0.00%
3.Overseas listed foreign shares 0 0.00% 0 0 0 0 0 0 0.00%
4.Others 0 0.00% 0 0 0 0 0 0 0.00%
III.Total shares 1506988000 100.00% 0 0 0 0 0 1506988000 100.00%
Reasons for the change in shares
√ Applicable ? N/A
The reasons for the change of the Company's shares are mainly caused by changes of the locked shares held by the Company's executives.
Approval of share changes
? Applicable √N/A
Transfer of share ownership
? Applicable √N/A
Implementation progress of share repurchase
√ Applicable ? N/A
On 29 October 2019 the sixth session of the ninth meeting of the board of directors was held. It reviewed and approved the plan about repurchasing
part of the social public shares and agreed to use its own funds to repurchase shares through centralized bidding. The total amount of repurchase is
not less than CNY 1 billion (inclusive) and not more than CNY 1.5 billion (inclusive). The repurchase price is not more than CNY 135.00 per share
(inclusive). The period of repurchases is within 12 months since the repurchase plan is reviewed and approved by the sixth session of the ninth
meeting of the board of directors. This share repurchased is used to implement equity incentive or employee stock ownership plan for core key
employees of the Company.The repurchase affairs was disclosed in details in “About the plan of share repurchase from part of public shares”
(Announcement No. 2019-026) “Repurchase report” (Announcement No.2019-028) etc. on China Securities Journal Shanghai Securities News and
Securities Times Securities Daily and www.cninfo.com.cn on 30 October 2019 and on 5 November 2019.The Company's 2019 annual equity distribution plan has been implemented on 24 June 2020. According to the Company's repurchase plan the upper
limit of the price of repurchased shares has been adjusted from no more than RMB 135 / share (inclusive) to no more than RMB 132.01 / share
(inclusive).For details please refer to the "Announcement on Adjusting the Price Limit of Repurchased Shares After Implementing the 2019 Annual
Equity Distribution Plan" disclosed by the Company in China Securities Journal Shanghai Securities News Securities Times Securities Daily and
www.cninfo.com.cn on 20June 2020 (Announcement No. 2020-024).
On 21 January 2020 the Company repurchase shares for the first time. On 22 January 2020 the Company disclosed the repurchase of shares for the
first time.On 3 February 4March 2 April 8 May 3 June 3 July 5 August 3 September 9 October 2020 theCompanies disclosed the progress of
repurchase of shares. For details please refer to the relevant announcements disclosed by the Company in China Securities Journal Shanghai
Securities News Securities Times Securities Daily and www.cninfo.com.cn.
The actual repurchase period of the Company wasfrom 21 January 2020 to29 October
2020.The Company has repurchased 9661310 shares of the Company through the
special securities account of share repurchase with its own funds in the way of
centralized bidding accounting for 0.6411% of the total share capital of the
Company.The highest purchase price wasCNY 131.99 per share and the lowest
wasCNY 80.37 per share. The total amount of funds used wasCNY 1002128680.79
(including transaction costs).The repurchase amount of the Company reached the lower
limit of the total amount of repurchase funds in the repurchase plan and not exceeded the
upper limit of the total amount of repurchase funds and the repurchase plan has been
completed.Implementation progress of share repurchase reduction through centralized bidding
? Applicable √N/A
Effects of changes in shares on the basic EPS diluted EPS net assets per share
attributable to common shareholders of the Company and other financial indexes over
the last year and the last reporting period
√Applicable ?N/A
Increased basic earnings per share and diluted earnings per share by CNY 0.0193 per
share due to the number of shares repurchased.Other contents that the Company considers necessary or is required by the securities
regulatory authorities to disclose
?Applicable √N/A
2. Changes in restricted shares
√Applicable ?N/A
Unit:Share
Name of
shareholder
Opening
restricted
shares
Increase in this
period
Unlocked
in this
period
Closing
restricted
shares
Reason
Date of
unlocking
Feng Pantai 4258489 1419497 0 5677986
Locked due to leaving
executive position
(Supervisor)
The sales
restriction
was not
unlocked
during the
reporting
period.Th
e
restricted
sale of
25% of
the shares
held will
be
unlocked
on 8
January
2021 and
the
restricted
sale of the
remaining
shares
locked will
be
unlocked
in
accordanc
e with the
relevant
rules.Wang Kai 0 1800 0 1800
Locked due to current
executive position
(Director)
N/A
Total 4258489 1421297 0 5679786 -- --
2. Issuance and listing of securities
2.1 Securities(excluding preference shares)issued in the reporting
period
?Applicable √N/A
2.2 Changes in total shares of the company and the shareholder
structure as well as the asset and liability structure
?Applicable √N/A
2.3 Existing staff-held shares
?Applicable √N/A
3. Shareholders and actual controller
3.1 Total number of shareholders and their shareholdings
Unit:share
Total number of common shareholders at
the end of the reporting period
77730
Total number of common
shareholders at the prior
month-end before the
disclosure date of the annual
report
136216
Total number of preference
shareholders with resumed
voting rights at the period-
end(if any)(see Note 8)
0
Total number of
preference
shareholders
with resumed
voting rights at
the period-end(if
any)(see Note 8)
0
Shareholdings of shareholders with a shareholding percentage over 5% or the top 10 shareholders
Name of shareholder Nature of shareholder
Shareho
lding
percent
age
Total shares
held at the
period-end
Increase/decr
ease during
the reporting
period
Number of
restricted
shares held
Number of
non-restricted
shares held
Pledged or frozen shares
Status of
shares
Number of
shares
Jiangsu Yanghe Group Co.Ltd. State-owned corporation 34.16% 514858939 0 0 514858939
Jiangsu Blue Alliance Co. Ltd.
Domestic non-state-owned
corporation
19.55% 294591926 -28546700 249480000 45111926
Shanghai Haiyan Logistics Development
Co.Ltd.
State-owned corporation 9.67% 145708137 0 0 145708137
Shanghai Jieqiang Tobacco Sugar
&Wine(Group)Co.Ltd
State-owned corporation 3.96% 59744099 -864400 0 59744099
Hong Kong Securities Clearing Company
Ltd. (HKSCC)
Outboundcorporation 3.06% 46048354 -72536890 0 46048354
Bank of China Co.Ltd. – Liquor index
classification securities investment fund by
China Merchants Fund
Other 1.92% 28882107 13964550 0 28882107
Bank of China Co.Ltd. – E-funds blue chip
selected and hybridsecurities investment
funds
Other 1.80% 27200000 27200000 0 27200000
Bank of China Co.Ltd. – E-funds SME
hybrid securities investment funds
Other 1.11% 16700000 9219999 0 16700000
China Securities Finance Corporation limited State-owned corporation 0.92% 13790044 0 0 13790044
Central Huijin Asset Management Co. Ltd. Outbound corporation 0.85% 12766400 0 0 12766400
Strategic investors or general corporations to be top 10 shareholders due
to placing of new shares(if any)(see Note 3)
Nil
Related-parties or acting-in-concert N/A
Explanation of above shareholders involving in entrusting/ entrusted voting
rights and abandonment of voting rights
Nil
Shareholdings of the top 10 non-restricted shareholders
Name of shareholder
Number of non-restricted shares
held in the period end
Type of shares
Type Number
Jiangsu Yanghe Group Co.Ltd. 514858939 CNY common shares 514858939
Shanghai Haiyan Logistics Development Co.Ltd. 145708137 CNY common shares 145708137
Shanghai Jieqiang Tobacco Sugar & Wine(Group)Co.Ltd. 59744099 59744099
Hong Kong Securities Clearing Company Ltd. (HKSCC) 46048354 CNY common shares 46048354
Jiangsu Blue Alliance Co. Ltd. 45111926 CNY common shares 45111926
Bank of China Co.Ltd. – Liquor index classification securities investment
fund by China Merchants Fund
28882107 CNY common shares 28882107
Bank of China Co.Ltd. – E-funds blue chip selected and hybridsecurities
investment funds
27200000 CNY common shares 27200000
Bank of China Co.Ltd. – E-funds SME hybrid securities investment funds 16700000 16700000
China Securities Finance Corporation limited 13790044 CNY common shares 13790044
Central Huijin Asset Management Co. Ltd. 12766400 CNY common shares 12766400
Description of the relationship or concerted action between the top 10
unlimited outstanding shareholders and between the top 10 outstanding
shareholders and the top 10 shareholders
N/A
Description of the top 10 common shareholders participating in securities
margin trading(if any)(see Notes 4)
N/A
Whether any of the top 10 common shareholders or the top non-restricted common shareholders of the Company conduct any promissory repurchase
during the reporting period.? Yes √ No
No such cases in the reporting period.
3.2 Controlling shareholder
Nature of controlling shareholder:Local state-owned
Type of controlling shareholder:Corporation
Name of
controlling
shareholder
Legal
representative/
Company
principal
Date of
establishment
Organization
code
Main business
Jiangsu Yanghe
Group Co.Ltd.Li Minfu 8 May 1997
91321300142
334989Y
Sales of brewing mechanical
equipment Liquor Export Import
of various raw and auxiliary
material used for production
equipment and accessories
Industrial investment; municipal
public engineering building
engineering tourism cultural
industry investment.Shareholdings of
the controlling
shareholder in
other listed
companies at
home or abroad
during the
reporting period
N/A
Change of the controlling shareholder during the reporting period
?Applicable √N/A
No such cases in the reporting period.
3.3 Actual controller and its persons acting in concert
Nature of actual controller:Local State-owned Assets Supervision and Administration
Commission
Type of actual controller:Corporation
Name of actual
controller
Legal
representativ
e/Company
principal
Date of
establishment
Organization
code
Main business
State-owned Assets
Supervision and
Administration
Commission of
Suqian
Zhao Xiaoli
22 October
2005
N/A
Execution of duty of state-
owned enterprise's investor on
behalf of the People's
Government of Suqian and
implementation of supervision
managementonstate-owned
assets and state-owned
enterprises.Share holdings of
the controlling
shareholder in other
listed companies at
home or abroad
during the reporting
period.
N/A
Change of the actual controller during the reporting period
?Applicable √N/A
No such cases in the reporting period.Ownership and control relations between the actual controller and the Company
The actual controller control the company via trust or other ways of assets management
?Applicable √ N/A
3.4 Other corporate shareholders with a shareholding proportionover
10%
√Applicable ? N/A
Name of actual controller
Legal
representative/
Company
principal
Date of
establishment
Registered capital Main business
Jiangsu Blue Alliance Co.Ltd.
Cong Xuenian 28 July 2016 CNY 105600000.00
Sales of daily
products research
and development of
biology technology
furniture production
Business
management
consulting service
fruit tree planting
Sales of
prepackaging food.
3.5 Limits on the Company’s shares held by its controlling shareholder
actual controller restructuring party and other commitment entities.
?Applicable √ N/A
Section VII Information about Preference Shares
? Applicable √ N/A
No such cases in the reporting period
Section VIIIInformation about Convertible Bonds
? Applicable √ N/A
No such cases in the reporting period
Section IX Profiles of Directors Supervisory Senior Management and Employees
1. Change in shares owned by directors members of supervisory committee senior management and
employees
Name Office title
Incumbent
/ Former
Gender Age
Start date of
term
Termination
date of term
Shares held
at the
period-begin
(share)
Shares
increased at
the reporting
period
(share)
Shares
decreas
ed at the
reporting
period
(share)
Other
increas
e/decre
ase
(share)
Shares
held at the
period-end
(share)
Zhang
Liandong
Chairman of the board Incumbent Male 53
23 February
2021
23
February202
4
0 0 0 0 0
Zhong Yu
ViceChairman of the
boardPresident
Incumbent Male 57
10 February
2015
23 February
2024 0 0 0 0 0
Li Minfu Director Incumbent Male 47
22May 2020
23 February
2024 0 0 0 0 0
Wang Kai Director Incumbent Male 44
19May 2017
23 February
2024 0 2400 0 0 2400
Liu
Huashuang
DirectorVice President Incumbent Male 51
29 January
2018
23 February
2024 0 0 0 0 0
Cong
xuenian
Director Incumbent Male 55
10 February
2015
23 February
2024 2778291 0 0 0 2778291
Zhou xinhu
DirectorVice President
Chief engineer
Incumbent Male 59
10 February
2015
23 February
2024 2878291 0 0 0 2878291
Zhao
Shuming
Non-executiveDirector Incumbent Male 69 23 February 23 February 0 0 0 0 0
Name Office title
Incumbent
/ Former
Gender Age
Start date of
term
Termination
date of term
Shares held
at the
period-begin
(share)
Shares
increased at
the reporting
period
(share)
Shares
decreas
ed at the
reporting
period
(share)
Other
increas
e/decre
ase
(share)
Shares
held at the
period-end
(share)
2021 2024
Nie Yao Non-executiveDirector Incumbent Male 44
23 February
2021
23 February
2024 0 0 0 0 0
Lu Guoping Non-executiveDirector Incumbent Male 61
23 February
2021
23 February
2024 0 0 0 0 0
Mao
Lingxiao
Non-executiveDirector Incumbent Male 57
23 February
2021
23 February
2024 0 0 0 0 0
Chen
Taiqing
Chairman of
supervisory committee
Incumbent Male 56
13July2020
23
February202
4
0 0 0 0 0
Xu
Youheng
Supervisor Incumbent Male 44
23May 2019
23 February
2024 0 0 0 0 0
Xu Lili Supervisor Incumbent Female 42
23 February
2021
23 February
2024 0 0 0 0 0
Chen Fuya Supervisor Incumbent Male 56
6July 2020
23 February
2024 0 0 0 0 0
Chen
Taisong
Supervisor Incumbent Male 53
10 February
2015
23 February
2024 0 0 0 0 0
Lin Qing Vice President Incumbent Female 46
10 February
2015
23 February
2024 0 0 0 0 0
Name Office title
Incumbent
/ Former
Gender Age
Start date of
term
Termination
date of term
Shares held
at the
period-begin
(share)
Shares
increased at
the reporting
period
(share)
Shares
decreas
ed at the
reporting
period
(share)
Other
increas
e/decre
ase
(share)
Shares
held at the
period-end
(share)
Zheng
Bujun
Vice President Incumbent Male 54
10 February
2015
23 February
2024 60000 0 15000 0 45000
Fu
Hongbing
Vice President
Incumbent
Male 59
17January
2020
23 February
2024 0 0 0 0 0
Yin
Qiuming
Vice President
responsible person for
accounting affairs
Incumbent Male 49
13July 2020
23 February
2024 0 0 0 0 0
Li Yuling Vice President Incumbent Male 51
13July 2020
23 February
2024 0 0 0 0 0
Lu
Hongzhen
Secretary of the board Incumbent Female 43
23February
2021
23 February
2024 0 0 0 0 0
Wang Yao Chairman of the board Former Male 56
10 February
2015
23 February
2021 30002 0 0 0 30002
Han Feng Director Former Male 59
10 February
2015
24April 2020
0 0 0 0 0
Xu Zhijian Non-executiveDirector Former Male 57
10 February
2015
23 February
2021 0 0 0 0 0
Cai
Yunqing
Non-executiveDirector Former Female 69
10 February
2015
23 February
2021 0 0 0 0 0
Ji Xueqing Non-executiveDirector Former Male 50
10 February
2015
23 February
2021 0 0 0 0 0
Name Office title
Incumbent
/ Former
Gender Age
Start date of
term
Termination
date of term
Shares held
at the
period-begin
(share)
Shares
increased at
the reporting
period
(share)
Shares
decreas
ed at the
reporting
period
(share)
Other
increas
e/decre
ase
(share)
Shares
held at the
period-end
(share)
Chen
Tongguang
Non-executiveDirector Former Male 55
10 February
2015
23 February
2021 0 0 0 0 0
Feng
Pantai
Chairman of
supervisory committee
Former Male 61
10 February
2015
8July 2020
5677986 0 0 0 5677986
Zhou
Wenqi
Supervisor Former Female 55
10 February
2015
23 February
2021 0 0 0 0 0
Zhu Wei Vice President Former Male 44
10 February
2015
18 January
2020 0 0 0 0 0
Total 11424570 2400 15000 0 11411970
2. Changes in directorssupervisors senior management and employees
√Applicable ? N/A
Name Office title Type Date Reason
Han Feng Director Former 24 April 2020 Job transfer
Feng Pantai
Chairman of supervisory
committee
Former 8 July 2020 Job change
Zhu Wei Vice President Former 18 January 2020 Personal reason
3. Employment information
Professional background work experience and major duties of directors supervisors and senior management
3.1 Directors
Mr. Zhang Liandong born in September 1968 a Party school postgraduate. He was a Party organization committee member ofZhikouVillage
SuqianaParty organization committee member of Sucheng Town Sucheng District a vice secretary of Party working committee and a secretary of
discipline working committeean office director in Xingfu Street Sucheng District an office director and a secretary of Party working committee in
Xiangli Street Sucheng District a management committee director of economic development zone a vice secretary of Party working committee a
director of Suqian Direct Merchants Bureaua deputy district head of Sucheng Direct a member of Standing Committee of Sucheng District
Committee a secretary of Party working committee of Sucheng economic development zone a deputy secretary of Suqian Municipal Government a
director of Suqian Urban Management Bureau a deputy secretary of the Party leadership group a deputy general secretary of Suqian Municipal
Government (department level) a secretary of the Party working committee of Yanghe New District Suqian.At present he is the chairman and deputy
secretary of Party committee of the Company the chairman of Shuanggou Distillery and the executive director of Jiangsu Shuanggou Distillery Sales
Co. Ltd.
Mr. Zhong Yu born in May 1964 Master degree senior engineer Master of Chinese Liquor and Jiangsu 13
th
NPC member. He was adirector of
technology and environmental protection department inShuanggou Distillery; a vice chief engineer a president assistant and a director of production
and technology center of Shuanggou Distillery;a vicegeneral manager of Yanghe Branch of the Company;a brewing director a president assistant a
vice president of the Company a general manager of Siyang Branch of the Company. At present he is a vicechairman of the board the president the
vice secretary of the party committee the general manager of Yanghe Branch of the Company.Mr.Li Minfu born in October 1974 Master degree. He was a member of the standing committee of the Sucheng District Committee a secretary of the
Party working committee of the Sucheng Economic Development Zone an executive deputy district head a member of the standing committee of
Siyang County Committee an executive deputy county chief etc. At present he is the director of the Company the secretary of Party committee and
chairman of Suqian Industrial Development Group Co. Ltd. the chairman of Jiangsu Yanghe Group Co. Ltd. and the chairman of Jiangsu
Shuanggou Group Co. Ltd.Mr. Wang Kai born in August 1977 Bachelor degree Intermediate Economist. He is a brand department manager of marketing center of Shanghai
Tobacco Group Co. Ltd. a general manager assistant of Shanghai Haiyan Logistics Development Co. Ltd.. At present he is the director of the
Company and the vice general manager of Shanghai Haiyan Logistics Development Co. Ltd..
Mr. Liu Huashuang born in December 1970 MBA from Fudan University accountant. He
was a director of marketing department and a deputy general manager of Jiangsu
Yanghe Distillery a general manager of Yanghe Blue Classic a general manager of
Jiangsu Yanghe Distillery a member of the standing party committee of Company a
director of strategic studies a vice executive general manager and a vice secretary of
party committee of Jiangsu Su Wine Industrial Co. Ltd. a secretary of party committee
and a vice chairman of the board of Su Wine Trade Group. At present he is the director
the vice executive president and a member of the standing party committee and the
secretary of the party committee and the chairman of Su Wine Trade Group.Mr. Cong Xuenian born in January 1966 Master degree senior economist. He was a
chief accountant and finance director of Yanghe Distillery a finance minister of Yanghe
Group a chief accountant a secretary of the board a responsible person for accounting
affairsa director and vice president of the Company. At present he is the director and
the chairman of the board of Blue Alliance.Mr. Zhou Xinhu born in August 1962 Master degree senior engineer a member of the
expert group of Baijiu professional committee of China Food Industry Association and
chief liquor taster of China master of Chinese liquor critic and China craftsman of light
industry. He was a technician of Yanghe Groupa director of quality inspection
department and blending and storage department a vice general manager of Yanghe
Distillery a vice chief engineer a chief engineer and a vice president of the Company. At
present he is the director the vice president and the chief engineer of the Company.Mr. Zhao Shuming born in December 1952 Doctor. He was an officer deputy chief
chief and deputy director of foreign affairs office in Nanjing University an assistant to the
President associate professor professor senior professor vice dean dean of the
Business School of Nanjing University. At present he is the non-executive director of the
Company senior professor/doctoral advisor in Nanjing University honorary president of
Business School at the same time as an vice president of Ministry of Education of MBA
discipline education guiding committee vice president of Chinese Research Council of
Modern Management and China Society of Human Resource Development excellent
part-time professor of University of Missouri-St. Louis USA visiting professor of Drucker
School of Management Claremont Graduate University California USA president of
Jiangsu Human Resources Association; non-executive director of Jiangsu Lianfa Textile
Co. Ltd. Jsti Group Co. Ltd. and Nanjing Securities Co. Ltd.
Mr. Nie Yao born in June 1977 doctoral candidate. He was a visiting scholar of
Advanced Biotechnology and Medicine Center of Rutgers University (State University of
New Jersey) an associate professor of Bioengineering College of Jiangnan University
and a non-executive director of Jinhui Liquor. At present he is the non-executive director
of the Company and professor and deputy dean of Bioengineering School of Jiangnan
University.
Mr.Lu Guoping born in March 1960 Bachelor degree Professor of accounting CPA
Excellent educator in Jiangsu province. He was a lecturer an associate professor and a
director of teaching and research office in Nanjing Agricultural University. At present he
is the deputy dean professor and master tutor of Guofu Zhongshen College in Nanjing
Audit University an accounting lecturer of CPA exam counseling in Jiangsu province
course director of advanced financial accounting in national-level MOOCs course
director of advanced financial accounting in national first-class undergraduate courses
part-time professor of Network Teacher Training Center of the Ministry of Education the
non-executive director of Langbo Technology Huaxin New Materials Baosheng
Technology and other companies.Mr.Mao Lingxiao born in January 1964 Bachelor degree First-Grade Lawyer (Senior).He was an officer of Justice Department of Jiangsu Province a full-time lawyer of
Jiangsu International Economic and Trade Law Firm a senior partner of Jiangsu Lingxiao
Law Firm a senior partner of Jiangsu Jinding Law Firm a senior partner and director of
Jiangsu Tianzhe Law Firm a full-time lawyer senior partner executive director of Beijing
Zhongyin (Nanjing) Law Firm. At present he is the non-executive director of the
Company and a full-time lawyer senior partner and chairman of partners' meeting of
Beijing Haotian Xinhe (Nanjing) Law Firm.
3.2 Supervisors
Mr. Chen Taiqing born in May 1965 Master degree Senior political engineer member of
communist party of China. He was a member of the party committee of Yanghe Group
office director member of the Company’s party committee director of human resource
department director of integrated department president assistant vicegeneral manager
of Yanghe Branch of the Company vice general secretary of the Company’s party
committee and discipline inspection committee of the Company general secretary and
general manger of Shuanggou Distillery's party committee. At present he is the chairman
of supervisory committee vice secretary of the party committee chairman of the labor
union .Mr.Xu Youheng born in March 1977 Master degree. He was a director of organization
department a director of cadre supervision department a director of cadre education
department an officedirectora vice officedirector of leading group for party construction
of Suqian municipal party committee. At present he is the supervisor of the Company
the vice secretary of the party committee and vice general manager of Suqian Industrial
Development Group Co. Ltd.
Ms.Xu Lili born in March 1979 Bachelor degree. She was a secretary of the communist
youth league of Shanghai Jieqiang Tobacco Sugar & Wine (Group) Co.Ltd. a marketing
department deputy manager of Shanghai Jieqiang Tobacco Sugar & Wine Group
Distribution Center a deputy general manager of Shanghai Qinzhou Trade Co. Ltd. a
general manager assistant of Shanghai Jieqiang Tobacco Sugar & Wine Group
Distribution Center a deputy general manager executive deputy general manager and
general manager of Shanghai Jieqiang Tobacco Sugar & Wine (Group) Chain Co.Ltd. At
present she is the supervisor of the Company the general manager of Shanghai
Jieqiang Tobacco Sugar & Wine Group Distribution Co. Ltd. and Shanghai Jieqiang
Food Sales Co.Ltd..
Mr.Chen Fuya born in November 1965 Bachelor degree. He was a member of the
standing committee of the discipline inspection commission of Suqian a office director of
Party conduct and government integrity a departmental-level discipline inspection
supervisor of the discipline inspection commission of Suqian a deputy secretary of the
Party committee and a secretary of the discipline inspection commission of the Company.
At present he is the supervisor deputy secretary of the party committee and secretary of
the discipline inspection commission of the Company.Mr. Chen Taisong born in January 1968 Master degree. He was a officer andsecretary
of Siyang Legal Bureau and an office secretarydeputychief chief director assistant
deputydirector of Siyang government alcalde and secretary of the party committee of
Chuancheng Town in Siyang country deputysecretary of the party committee and
secretary of discipline inspection commission and chairman of the supervisory committee
of Su Wine Industrial Co. Ltd. deputysecretary of discipline inspection committee of the
Company. At present he is the supervisor a member of standing committee director of
organization department of the Company;deputysecretary of the party committee and
secretary of discipline inspection committee and chairman of the supervisory committee
of Su Wine Trade Group.
3.3 Senior management
Mr. Zhong Yu President of the Company resume as above.Mr. Liu Huashuang Executive president of the Company resume as above.Mr. Zhou Xinhu vice president of the Company resume as above.Ms. Lin Qing born in May 1975 Master degree senior accountant CPA. She was a
vicedirector of enterprise department of Suqian Finance Bureau a director assistant of
Suqian Price Bureau a member and a vice director of the party committee of National
Development and Reform Commission a member of the standing committee of the
Company a vice president of the Company. At present she is thevice president of the
Company and director of the internal audit institution a member of the standing
committee of the Company and vice chairman of the board of Su Wine Trade Co.Ltd.Mr. Zhen Bujun born in January 1967 MBA senior engineer. He was ageneral manager
of Yanghe Group general manager of Suqian State-owned Investment Co. Ltd.vicegeneral manager of Shuanggou Distillery director and president assistant of logistics
andpurchasing department of the Company. At present he is a vice president a member
of the standing committee of the Company general manager and secretary of the party
committee of Siyang Branch of the Company.Mr. Fu Hongbing born in January 1962 Chinese liquor craft master senior winemaker.He has won many honors such as "National May Day Labor Medal" "Jiangsu Province
May Day Labor Medal" and "Advanced Science and Technology Leader" of China Food
Industry Science and Technology Progress. He wasa director of management and quality
department of Jiangsu Yanghe Group Co. Ltd. a vice chief engineer of the Company
director of the quality department a general manager assistant of Yanghe Branch a
director of the quality department a vice general manager a president assistant of the
Company and the chairman of the board of Guizhou Guijiu Group Co. Ltd. At present
he is the vice president of the Company the chairman of the board and secretary of the
party committee of Guizhou Guijiu Group Co. Ltd.Mr.Yin Qiuming born in July 1972 College degree auditor. He was an assistant director
of audit director of audit deputy secretary of discipline inspection commission of Jiangsu
Yanghe Group Co. Ltd. director of the Company’s management department deputy
general manager of Jiangsu Yanghe Sales Co. Ltd. deputy general manager of Jiangsu
Yanghe Liquor Co. Ltd. a member of Party committee director of Finance supervisor of
the Company and deputy secretary of discipline inspection commission deputy general
manager finished product dispatching director the responsible person for accounting
affairs CFO general manager of finance center of Yanghe Branch. At present he is the
vice president of the Company a member of the Party committee and the responsible
person for accounting affairs.Mr. Li Yuling born in December 1980 Nanjing University MBA Intermediate economist.He was a assistant director of supply department assistant director of finance
department deputy chief dispatcher of general dispatching office director of supply
department assistant general manager of Yanghe branch director of procurement and
supply logistics supply chain management director deputy director of procurement and
supply logistics center and office director. At present he is the vice president of the
Company a member of the Party committee the secretary of the Party committee and
general manager of Shuanggou Distillery.Ms. Lu Hongzhen born in October 1978 Bachelor degree a member of China
Association for the Promotion of Democracy and has obtained the Board Secretary
Qualification Certificate issued by Shenzhen Stock Exchange. On September 2001 she
joined Jiangsu Yanghe Group Co. Ltd. serving successively as office secretary deputy
director of the comprehensive department deputy office deputy director of the securities
department and representative of securities affairs. At present she is a secretary of the
board and director of the securities department of the Company.Position in shareholder-holding companies
√ Applicable ? N/A
Name
Name of shareholder
holding companies
Positionin
shareholder
holding
companies
Beginning
date of office
term
Ending
date of
office term
Anyremuneration
sreceivedfrom
shareholder
holding
companies
Cong Xuenian Jiangsu Blue Alliance Co.
Ltd.
Chairman of
the board
31March2021 Yes
Wang Kai Shanghai Haiyan Logistics
Development Co.Ltd.
Vicegeneral
manager
1 March 2017 Yes
Name
Name of shareholder
holding companies
Positionin
shareholder
holding
companies
Beginning
date of office
term
Ending
date of
office term
Anyremuneration
sreceivedfrom
shareholder
holding
companies
Description of
position in the
shareholders’
unit
Nil
Position in other companies
√ Applicable ? N/A
Name
Name of other
companies
Position in other
companies
Beginning date
Ending
date
Anyremuneratio
nsreceivedfrom
other companies
Zhao Shuming
Nanjing Shenghe
Pharmaceutical Co.Ltd.Non-
executivedirector
11 May2015
Yes
Zhao Shuming Jsti GroupCo. Ltd.Non-
executivedirector
24April2015
Yes
Zhao Shuming
Nanjing Securities
Co. Ltd.
Non-
executivedirector
15November2018
Yes
Zhao Shuming
Jiangsu Lianfa
Textile Co. Ltd.Non-
executivedirector
13 May 2020
Yes
Zhao Shuming
Jiangsu Human
Resources
Association
President 1 September2016
No
Zhao Shuming
China Society of
Human Resource
Development
Vice president 1 September2010 No
Zhao Shuming
Education of MBA
discipline education
guiding committee
Vice president 1 September2013 No
Zhao Shuming
Chinese Research
Council of Modern
Management
Vice president 2November2015 No
Lu Guoping
Changzhou Langbo
Sealing Technology
Co. Ltd.
Non-
executivedirector
12October2015 Yes
Lu Guoping
Jiangsu Huaxin New
Materials Co. Ltd.Non-
executivedirector
1March2016 Yes
Lu Guoping
Baosheng
Technology
Innovation Co. Ltd.Non-
executivedirector
9 May 2019 Yes
Lu Guoping
Changzhou Academy
of Architectural
Sciences Co. Ltd.Non-
executivedirector
28 June 2020 Yes
Xu Lili
Shanghai Jieqiang
Tobacco Sugar &
WineGroup
Distribution Co. Ltd.
General manager 14 July 2020 Yes
Xu Lili
Shanghai Jieqiang
Food Sales Co. Ltd.
General manager 14 July 2020 Yes
Punishments imposed in the recent three years by the securities regulators on the
incumbent directors supervisors and senior management as well as those who left in the
reporting period
? Applicable √ N/A
4. Remuneration of directors supervisors and senior
management
Thedecision-making procedures decision basis and actual remuneration payment of
directors supervisors and senior management.
Decision-making procedures: Implementation is based on the "Trial ImplementationMeasures for the Annual Salary of General Manager (Revision)” approved by the 9
th
meeting of the second board of directors on 29 December 2008 and "TrialImplementation Measures for the Annual Salary of Chairman of the Board (Revision)”
approved by the first extraordinary general meeting of shareholders on 18 January 2009.
Decision basis: Based on the Company's operating conditions and considering the
standard of regional economic industry and market.
Actual remuneration payment: Based on the performance and payment on time
according to the salary system.Remuneration of directors supervisors and senior management during the reporting
period
Unit: CNY0000
Name Position Gender Age
Incumbent/
Former
Total before-tax
remuneration
from the
Company
Remuneration
from related
parties of the
Company
Zhang Liandong Chairman of the board Male 53 Incumbent 0 No
Zhong Yu
Vice Chairman of the
boardPresident
Male 57 Incumbent 135.15 No
Li Minfu Director Male 47 Incumbent 0 Yes
Wang Kai Director Male 44 Incumbent 0 Yes
Liu Huashaung
DirectorexecutivePresi
dent
Male 51 Incumbent 104.37 No
Cong Xuenian Director Male 55 Incumbent 105.94 No
Zhou xinhu
Director Vice President
Chief Engineering
Male 59 Incumbent 105.64 No
Zhao Shuming Non-executive Director Male 69 Incumbent 0 No
Nie Yao Non-executive Director Male 44 Incumbent 0 No
Lu Guoping Non-executive Director Male 61 Incumbent 0 No
Mao Lingxiao Non-executive Director Male 57 Incumbent 0 No
Chen Taiqing
Chairman of
supervisory committee
Chairman of labor union
Male 56 Incumbent 103.01 No
Xu Youheng Supervisor Male 44 Incumbent 0 Yes
Xu Lili Supervisor Female 42 Incumbent 0 Yes
Chen Fuya Supervisor Male 56 104.57 No
Description of
position in the
shareholders’
unit
Nil
Name Position Gender Age
Incumbent/
Former
Total before-tax
remuneration
from the
Company
Remuneration
from related
parties of the
Company
Chen Taisong Supervisor Male 53 Incumbent 99.97 No
Lin Qing Vice President Female 46 Incumbent 108.59 No
Zhen Bujun Vice President Male 54 Incumbent 104.77 No
Fu Hongbing Vice President Male 59 Incumbent 105.8 Yes
Yin Qiuming
Vice President
responsible person for
accounting affairs
Male 49 Incumbent 98.23 No
Li Yuling VicePresident Male 51 Incumbent 96.89 No
Lu Hongzhen Secretary of the board Female 43 Incumbent 17.36 No
Wang Yao Chairman of the board Male 56 Former 135.09 No
Han Feng Director Male 59 Former 0 Yes
Xu Zhijian Non-executive Director Male 57 Former 6 No
Cai Yunqing Non-executive Director Female 69 Former 6 No
Ji Xueqing Non-executive Director Male 50 Former 6 No
Chen Tongguang Non-executive Director Male 55 Former 6 No
Feng Pantai
Chairman of
supervisory committee
Male 61 Former 96.91 No
Zhou Wenqi Supervisor Female 55 Former 0 Yes
Zhu Wei VicePresident Male 44 Former 55.63 No
Total 1601.92
Share incentives for directors supervisors and senior executives in the reporting period
? Applicable √N/A
5. Staff in the Company
5.1 Number functions and educational backgrounds of the staff
Number of in-service staff of the Company 7116
Number of in-service staff of main subsidiaries 8715
Total number of in-service staff 15831
Total number of staff with remuneration during this period 15831
Number of retirees to whom the Company or its main subsidiaries need to pay retirement pension 0
Functions
Function by category Number of staff
Production personnel 6073
Sales personnel 5644
R&D personnel 1854
Financial personnel 226
Administrative personnel 1821
Inner retired personnel 213
Total 15831
Educational backgrounds
Educational background by category Number of staff
Master 284
Bachelor 3843
Junior college 4380
Senior high school and below 7324
Total 15831
5.2 Staff remuneration policy
The remuneration consists of basic payments performance-related payments and benefit
float award. The Company implemented the mechanism of position self-promotion and
prepared the Management Measures for Position Self-promotion. In respect of quantity
quality efficiency and economic value of the work the Company furtherimproveda
quantified and assessable quantitative and qualitative indicators. It encourages
employees to be spontaneous and to improve their work efficiency. It further improves
the Company's management level and achieves a win-win situation between the
Company and employees
5.3 Staff training plans
In 2020 the training work closely around the Company's annual meeting in the form of
project schemewere carry out for senior and middle-level mangers strategic reserve
talents Geshibai talents Yanghe university lecturers to improve leadership of senior and
middle-level management personnel and strategic reserve talent capacity ability to
enhance performance and improve performanceincrease professional knowledge
learning of Geshibai technical personnelthe course development and teaching ability of
the lecturers of Yanghe University.The Company innovatively organized training activities
such as reading activities teacher-led apprentices and new employee induction. A total
of 846 training sessions were organized throughout the year with 62670 participants
and 381 action results among which 37 first-prize projects 35 second-prize projects and
34 third-prize projects were evaluated for the improvement of all staff.
5.4 Labor outsourcing
? Applicable √ N/A
Section X Corporate Governance
1. Basic situation of corporate governance
The Company constantly optimizes themodern enterprise system and corporate
governance structurewith actual development of the Company strictly in accordance
withthe Corporate Law the Securities Law The Listed Company Governance Standards
Rules Governing Listing of Stocks on Shenzhen Stock Exchange and Guidelines on
Standard Operation of SME Board Listed Companies on Shenzhen Stock Exchange and
other relevant laws and regulations. During the reporting period the Company operates
normatively with sound corporate governance. The situation of corporate governance of
the Company meets the requirements of authority files of listed company corporate
governance by CSRC.
1.1. Shareholders and shareholders’ general meeting
The shareholders' meeting of the Company has clear responsibilities clear rules of
procedure and effective implementation. According to the regulations such as Articles of
IncorporationandCompany Rules of Procedure of The Shareholders’ General Meetingthe
Company convenes and holds the shareholders’ general meeting and discusses
business affairs in the meeting normatively.The Company can treat all shareholders
equally and especially makes minority shareholders have equal status and fully exercise
their own power. The board carried out all the decisions made by the annual meeting of
shareholders carefully.
1.2. Directors and board of directors
The responsibilities of the board of directors are clear and all the directors can perform
their duties conscientiously and responsibly. The directors are elected carefully under the
regulations of the Corporate Law and Articles of Incorporation. The board of the
Company consists of 11 directors including 4 non-executive directors. The structure of
the board of directors satisfies the requirements of laws and regulations. The board
discusses business affairs according to Corporate Law and Articles of Incorporation. All
the directors are able to attend the meeting and take responsibilities diligently according
to the Discussion Rules of the Board of Directors The Working System of Non-executive
Directors and other rules. All the directors seriously consider proposals and make
scientific and reasonable decisions for significant events. They also protect the legal
interests of the Company and all shareholders. Strategy Committee Nomination
Committee Audit Committee Remuneration and Appraisal Committee are four
professional committees set under the board. The Committees have clear division of
work and responsibilities and fully play professional role to offer scientific and
professional suggestions for the decision-making of the board.
1.3. Supervisors and board of supervisors
The duties of the board of supervisors are clear and all the supervisors can perform their
duties conscientiously and responsibly. The supervisors are elected according to the
Corporate Law and the Articles of Incorporation. The board of supervisors of the
Company consists of 5 supervisors including 2 staff representative supervisors. The
structure of the board of supervisors satisfies the requirements of laws and regulations.The board of supervisors discusses business affairs according to corporate law and
articles of incorporation. Supervisors can attend the meeting according to the
requirements of Rules of Discussion Rules of the Board of Supervisors. They takes their
own responsibilities seriously supervises and makes independent suggestions for the
Company’s significant events financial conditions and the duties of directors and
president thereby protecting legal interests of the Company and shareholders.
1.4. Mechanism of evaluation and motivation
The appointment of directors supervisor and senior managers is open and transparent
which satisfies the requirements of relevant regulations and laws. The fair and
transparent evaluation mechanism of the management has been built. During the
reporting period the management carried out the performance assessment according to
the goal of annual operation plan. The management takes their responsibilities seriously
and fulfills the duties.
1.5. Relationship between controlling shareholders and listed company
According to the requirement of the Company Law the controlling shareholders take
duties and rights of sponsor. The Company and the controlling shareholders implement
independent accounting of personnel assets finance organizations and business. They
take responsibilities and risks separately.During the reporting period controlling
shareholders have no priority beyond the rights of shareholders’ general meeting to
directly and indirectly affect the decision-marking and operation of the Company. There is
no situation that controlling shareholders damage the legal interests of other
shareholders. There is no significant related party transaction between the Company and
the controlling shareholders. There is no situation that controlling shareholders occupy
the funds of the listed company and the listed company tenders guarantee for controlling
shareholders and the subsidiaries.
1.6. Investors relationship management
The Company focuses on the management of investors relationship to protect legal rights
of investors. Except for the duties like diligence or honesty the chairman of the board
the president the board secretary has good communications and interactions with
investors through reception of investor investigation and participating in performance
explanation session and broker strategy meeting online. As the professional organization
for investor relationship management the securities department strengthens the
communication with investors through telephone email and irm.cninfo.com.cn. It fully
makes sure that investors have right to know and protects their legal interests.
1.7. Stakeholders environmental protection and social responsibility
The Company fully respects and protects legal interests of stakeholders and fulfills the
duties of social responsibility. The Company strengthens the awareness of social
responsibility and achieves the interest balance among society government
shareholders company employeesetc. They jointly promote the harmonious and steady
development of the Company. The Company advocates the governance concept of
"green brewery and ecological enterprise" and integrates ecological and environmental
protection requirements into the Company's development strategy and corporate
governance process. While maintaining the sustainable development the Company
actively participates in social public welfare and takes social responsibilities.
1.8. Information disclosure and transparency
The information disclosure of the Company is implemented according to the
requirements of supervision departments. The Company seriously implements the rules
including Information Disclosure Management Rule and Investors Relationship
Management Rule. The Company enhances the management of information disclosure
affairs and takes responsibility of information disclosure legally and carefully achieving
the accuracy integrity fairness timeliness of information disclosure. The information can
be equally obtained by all shareholders.
1.9. Methods of improving internal control system construction
The Company keeps on enhancing the corporate governance and the internal control
system which improves the management to a higher level. The Audit Committee fully
examines and supervises the financial conditionthe efficiency of internal controlthe
efficiency and rationality of corporate governance. The audit department of the Company
as an internal audit unit carries out regular and continuous examination on perfection
and implement situation of internal control system. It finds the Internal control defects and
improves deficiencies timely thus the effectiveness of internal control can be guaranteed.The operation management and anti-risk capacity are enhanced.
Any significant variancesbetween the normative documents issued by the CSRC
supervising the corporate governance of listed companies and the actual state of the
Company’s corporate governance.
?Yes√ No
No such cases in the reporting period.
2. Independency of businesses personnel assets
organizations and finance which are separate from the
controlling shareholder
2.1. In the aspect of business
The Company has independent and integrated business structure and the ability to
operate independently in the market. There is no peer competition between controlling
shareholders and the Company. Besides there is no such kind of situation that
controlling shareholders intervene with operation of the Company directly or indirectly.
2.2 In the aspect of personnel
The Company has built independent personnel management system and salary
management system. Furthermore the Company signed labor contracts with
employeeschairman of the board the president vicepresident the board secretary and
the responsible person for the Company’s financial affairs obtain compensation from the
Company rather than the controlling shareholders. The directors senior managers and
supervisors do not have positions illegally in other companies that have the same or
similar business.
2.3 In the aspect of assets
There are clear property relations between the Company and controlling shareholders.The Company owns the independent land usage right and ownership of buildings. The
Company independently registers and manages the properties with setting up accounts
and accounting treatment for them. There is no situation that the controlling shareholders
occupy and control the assets of the Company or intervene the operation management of
the assets.
2.4 In the aspect of organization
The Company has well-structured organization system including the shareholders’
general meeting the board of directors supervisory committee the management and
functional departments. Related internal management and control system is established
for clear division of function and interaction with each other. It forms an organic whole
that ensures the legal operation.There is no affiliation with functional departments of
controlling shareholders.
2.5 In the aspect of finance
Our company has completed and independent organization with professional financial
employees. Independent accounting system and financial management are established.The Company sets bank accountants pays taxes and makes financial decisions
separately. There is no situation that controlling shareholders intervene with the financial
management of the Company.
3. Horizontal competition
?Applicable √N/A
4. Annual meeting of shareholders and special meetings of
shareholders convened during the reporting period
4.1. Meetings of shareholders convened during the reporting period
Meeting Type
Investor
participation
ratio
Convened date Disclosure date Disclosure index
2019 Annual
general meeting
of shareholders
General meeting
of shareholders
78.61% 22May 2020 23May 2020
Announcement No. 2020-
021 disclosed on
www.cninfo.com.cn
4.2. Special meetings of shareholders convened at the request of
preference shareholders with resumed voting rights
?Applicable √ N/A
5. Performance of non-executive directors during the
reporting period
5.1. Attendance of non-executive directors in board meeting and
meeting of shareholders
Attendance of non-executive directors in board meeting
Non-executive
director
Presence due
in the reporting
period(times)
Presence
on
site(times)
Presence by
telecommunic
ation(times)
Presence
through a
proxy(times)
Absence(time
s)
Absence for two
consecutive times
Presence
(times)
Xu Zhijian 6 4 2 0 0 No 1
Cai Yunqing 6 4 2 0 0 No 1
Ji Xueqing 6 4 2 0 0 No 1
Chen
Tongguang
6 4 2 0 0 No 1
Explanation of absence of non-executive directors in meetings of the board for twice
N/A
5.2. Objections from non-executive directors in related issues of the
company
Whether there are any objections on related issues of the Company from non-executive
directors
? Yes √ No
No such cases in the reporting period.
5.3. Other details about the performance of duties by non-executive
directors
Whether there are any suggestions from non-executive directors adopted by the
Company?
√ Yes ? No
Explanation about suggestions of non-executive directors is adopted by the Company or
not
Company adopted the reasonable suggestionsbynon-executive directors.
6. Performance of duties by special committees under the
broad during the reporting period
1).During the reporting period the Strategic Committee held 1 meeting. It investigated
2019 the board work report in advance made the 2020 annual work plan offered
scientific and reasonable suggestions and fulfilled the duties.
2).During the reporting period the Nominations Committee held 3 meeting. It examined
the qualification of Candidates nominatedfordirectors and senior management to be
appointed. The committee fulfilled the duties.
3).During the reporting period the Audit Committee held 4 meetings. It earnestly urged
the internal audit department to carry out daily audit and special audit strictly examined
the implementation of internal control system related to financial report and daily
operation and actively coordinated and supervised the audit and reappointment of
accountants. The committee fulfilled the duties.
4).During the reporting period the Remuneration and Appraisal Committee held 1
meeting. It examinedand supervised the salary of directors senior managers and
remuneration performance in 2019.The information disclosure of the Company about the
salary of directors and senior managers is correct and true and as the same as the
examination in 2019.The committee fulfilled the duties.
7. Performance of duties by the supervisory committee
Whether there are any risks to the Company identified by supervisory committee when
performing its duties during the reporting period.? Yes √ No
No such cases in the reporting period.
8. Evaluation and motivation mechanism for the senior management
At the beginning of the establishment of the evaluation and motivation mechanism it was
explicitly illustrated in Trial Implementation Measures for the Annual Salary of General
Manager (Revision). The evaluation and motivation of senior managers are mainly
reflected in annual salary system. The board of directors evaluates and motivates the
senior managers mainly according to the satisfaction of clients safety index quality index
and financial index. The management implements the annual salary system. The basic
part of annual salary is paid monthly on average and the remaining part will be paid at
the end of the year according to the results of evaluation. If it does not reach the
evaluation index the remaining parts will not be paid. In 2020 based on the above rules
the Remuneration and Appraisal Committee examined the situation of the management’s
performance in 2019.
9. Internal control
9.1. Significant internal control deficiencies found in the reporting
period
? Yes √ No
9.2. Internal control self-assessment report
Disclosure date of the internal
control self-assessment report
29 April 2021
Disclosure index of the internal
control self-assessment report
The internal control self-assessment report disclosed on www.cninfo.com.cn on 29
April 2021
Ratio of the total assets of the
appraised entitles to the
consolidated total assets
99.27%
Ratio of the operating revenues
of the appraised entitles to the
100.00%
consolidated operating revenue
Defect identification standard
Type Financial-report related Non-financial-report related
Qualitative standard
(1) The indicators of significantdeficiencies of
financial report including :i. Corrupt
transaction of directorssenior managers and
supervisors;ii. The management cannot
figure out the significant misstatement during
the operation process of operation but these
misstatements are found by others ;iii. Based
on the results of evaluation of internal control
the significantdeficienciesare not rectified;iv.
Audit Committee and Internal Audit Agency
are not effective in supervising the internal
control.(2) The indicators
ofmaterialdeficiencies including:i. Accounting
policy has not been chosen or used under the
general accepted accounting principles;ii.The anti-fraud program and control measures
have not been built;iii. The controlling system
or compensation system of accounting
treatment of irregular or special trade has not
formed;iv. The control of the process of
financial reporting at the period end exist the
situation that one or more deficiencies are
found and the veracity and accuracy cannot be
proved.(3) general control deficiencies refer to
the other control defects except for significant
defects and important defects above.If condition below appears it can be
considered as
significantdeficiencies others can
be divided into material defect or
general defect according to impact
extent.:(1) The Company suffer
from serious mistakes and major
property loss due to lake of
democratic decision-making
procedures or unscientific
procedures;(2) Violate national
regulations and laws seriously;(3)
Lake of important management
system or it doesn’t work;(4)
Significant or materialdeficiencies of
internal control cannot be regulated
in time;(5)Materialdeficiencies of
internal control appear continuously
or in quantity.Quantitative standard
Significantdeficiencies:Misstatement> 3% of
total operating revenue;Misstatement > 5% of
gross profits;Misstatement > 2% of total
assets.Materialdeficiencies:1% of total operating
revenue < Misstatement≤3% of total operating
revenue;3% of gross profits<
Misstatement≤5% of gross profits; 1% of total
assets< Misstatement≤2% of total assets.Generaldeficiencies: Misstatement≤1% of total
operating revenue; Misstatement≤3% of net
profits;Misstatement≤1% of total assets
Significantdeficiencies:ratio of loss
of total assets≥1%.Materialdeficiencies: 0.5%≤ratio of
loss of total assets<1%
Generaldeficiencies:ratio of loss of
total assets<0.5%
Number of financial-report
significant defects
0
Number of non-financial-report
significant defects
0
Number of important financial-
report related defects
0
Number of important Non-
financial-report related defects
0
10. Auditor’s report on internal control
N/A
Section XI Information about Corporate Bond
Whether there exists a public issue and listing of corporate bond that is not yet due or
failed to be redeemed at the date of the financial report authorized.No
Section XII Financial Report
I.Auditor’s report
Type of audit report Standard and unqualified opinion
Date of signature 27 April 2021
Name of Audit Suya Jincheng Certified Public Accountants LLP
No. of auditor’s report Suya Audit [2021] No.735
Names of auditors Li Laimin Li Yan
Auditor’s Report
To the shareholders of Jiangsu Yanghe Distillery Co. Ltd.:
Opinion
We have audited the financial statements of Jiangsu Yanghe Distillery Co. Ltd.(hereinafter referred to as the “Company”) which comprise the consolidated balance
sheet and balance sheet as at 31 December 2020 consolidated income statement and
income statement consolidated cash flow statement and cash flow statement
consolidated statement of changes in owners' equity and statement of changes in
owners' equity for the year then ended and notes to the financial statements.In our opinion the attached financial statements are prepared in all material respects in
accordance with Accounting Standards for Business Enterprises and present fairly the
financial position of the company as at 31 December 2020 and its operating results and
cash flow for the year then ended.
Basis for opinion
We conducted our audit in accordance with China Standards on Auditing (“CSAs”) for
Certified Public Accountants. Our responsibilities under those standards are further
described in the Auditor's Responsibilities for the Audit of the Financial Statements
section of our report. We are independent of the Company in accordance with the Code
of professional ethics for Certified Public Accountants in China (“the Code”) and we have
fulfilled our other ethical responsibilities in accordance with the Code. We believe that the
audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.Key audit matters
Key audit matters are those matters that in our professional judgment were of most
significance in our audit of the consolidated financial statements of the current period.These matters were addressed in the context of our audit of the consolidated financial
statements as a whole and in forming our opinion thereon and we do not provide a
separate opinion on these matters.
1.Recognition of revenue
Please refer to Significant accounting policies and accounting estimates and Notes to
the main items of the consolidated financial statements.Key audit matters
How our audit addressed the key audit
matter
The Company’s specific condition of
revenue recognition is that revenue is
recognized after customer acceptance
based on transfer of control. In 2020 the
Company’s annual operating revenue
was CNY21.101 billion. The amount
substantial and operating revenue is an
important component of income
statement. Therefore we identified
operating revenue as a key audit matter.Our procedures in relation to revenue
recognition included:
(1)Understood tested and evaluated the
effectiveness of internal control of sales and
cash receipts cycle designed and executed by
the management.
(2)Through sampling inspection of the sales
contract identified the contractual rights and
obligations evaluated the point of time of
performance obligations and evaluated
whether the judgment of the transfer of control
related to revenue recognition conforms to the
Company's accounting policies and Accounting
Standards for Business Enterprises.
(3)Judged whether there is an abnormal
fluctuation of revenue in the reporting period
with the analytic review of revenue and gross
profit margin in combination with product
category.
(4)Sampling inspection of supporting
documents related to revenue recognition
including sales contracts or orders invoices
delivery lists or receiving reports shipping lists
and bank slips.
(5)Implemented the external confirmation of
selected major franchisers and inspected the
payback of account receivables after the
reporting period in combination with audit of
accounts receivable and contract liabilities.
(6)Sampling inspection of calculation and
accounting treatment of sales discount and
sales allowance
(7)Chose samples from sales revenue records
before and after the balance sheet date
inspected related supporting documents and
evaluated whether the revenue recorded in the
appropriate accounting period.
2. Existence valuation and allocation of inventories
Please refer to Significant accounting policies and accounting estimates and Notes to the
Main Items of the Consolidated Financial Statements.Key audit matters
How our audit addressed the key audit
matter
As at 31 December 2020 the book value Our procedures in relation to existence
of inventory is CNY 14.853 billion
accounting for 27.57% of the total assets
and 39.89% of all current assets. The
book value of the inventories at year end
is relatively large and accounts for a
relatively large proportion of the total
assets at year end. Therefore the
existence valuation and apportionment
of inventories are identified as a key audit
matter.valuation allocation of inventories included:
(1)Understood and evaluated the effectiveness
of management's design and implementation
of inventory-related internal control.
(2)Carried out the inventory analysis review
procedure.
(3)Implement stock-taking procedures at the
end of the period.
(4)Sample check of production cost calculation
table and other cost accounting data and
conducted valuation test on inventory and
evaluated the accuracy of closing balance of
inventory.
(5)Obtained the calculation table of provision
for stock obsolescence conduct the inventory
impairment test reviewed the inventory
impairment test process and checked whether
the provision for stock obsolescence is made
sufficiently.Other information
The directors of the Company are responsible for the other information. The other
information comprises the information included in the annual report but does not include
the financial statements and our auditor’s report thereon.Our opinion on the financial statements does not cover the other information and we do
not express any form of assurance conclusion thereon.In connection with our audit of the financial statements our responsibility is to read the
other information and in doing so consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the audit or
otherwise appears to be materially misstated.If based on the work we have performed we conclude that there is a material
misstatement of this other information; we are required to report that fact. We have
nothing to report in this regard.Responsibilities of directors and those charged with governance for the
financial statements
The directors of the Company are responsible for the preparation of the financial
statements that give a true and fair view in accordance with the disclosure requirements
of Accounting Standards for Business Enterprises and designing implementing and
maintaining internal control that is necessary to ensure the financial statements are free
from material misstatement whether due to fraud or error.In preparing the financial statements the directors are responsible for assessing the
Company’s ability to continue as a going concern disclosing as applicable matters
related to going concern and using the going concern basis of accounting unless the
directors either intend to liquidate the Company or to cease operations or have no
realistic alternative but to do so.
Those charged with governance are responsible for overseeing the Company’s financial
reporting process.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial
statements as a whole are free from material misstatement whether due to fraud or error
and to issue an auditor’s report that includes our opinion. Reasonable assurance is a
high level of assurance but is not a guarantee that an audit conducted in accordance
with CSAs will always detect a material misstatement when it exists. Misstatements can
arise from fraud or error and are considered material if individually or in the aggregate
they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
As part of an audit in accordance with CSAs we exercise professional judgment and
maintain professional skepticism throughout the audit. We also:
(1)Identify and assess the risks of material misstatement of the financial statements
whether due to fraud or error design and perform audit procedures responsive to those
risks and obtain audit evidence that is sufficient and appropriate to provide a basis for
our opinion. The risk of not detecting a material misstatement resulting from fraud is
higher than for one resulting from error as fraud may involve collusion forgery
intentional omissions misrepresentations or the override of internal control.
(2)Obtain an understanding of internal control relevant to the audit in order to design
audit procedures that are appropriate in the circumstances.
(3)Evaluate the appropriateness of accounting policies used and the reasonableness of
accounting estimates and related disclosures made by the directors.
(4)Conclude on the appropriateness of the directors’ use of the going concern basis of
accounting and based on the audit evidence obtained whether a material uncertainty
exists related to events or conditions that may cast significant doubt on the Company’s
ability to continue as a going concern. If we conclude that a material uncertainty exists
we are required to draw attention in our auditor’s report to the related disclosures in the
financial statements or if such disclosures are inadequate to modify our opinion. Our
conclusions are based on the audit evidence obtained up to the date of our auditor’s
report. However future events or conditions may cause the Company to cease to
continue as a going concern.
(5)Evaluate the overall presentation structure and content of the financial statements
including the disclosures and whether the financial statements represent the underlying
transactions and events in a manner that achieves fair presentation.
(6)Obtain sufficient and appropriate audit evidence regarding the financial information of
the entities or business activities within the Company to express an opinion on the
financial statements. We are responsible for the direction supervision and performance
of the group audit. We remain solely responsible for our audit opinion.We communicate with those charged with governance regarding among other matters
the planned scope and timing of the audit and significant audit findings including any
significant deficiencies in internal control that we identify during our audit.We also provide the governance with a statement that we have complied with relevant
ethical requirements regarding independence and to communicate with them all
relationships and other matters that may reasonably be thought to bear on our
independence and where applicable related safeguards.
From the matters communicated with the governance we determine those matters that
were of most significance in the audit of the consolidated financial statements of the
current period and are therefore the key audit matters. We describe these matters in our
auditor’s report unless law or regulation precludes public disclosure about the matter or
when in extremely rare circumstances we determine that a matter should not be
communicated in our report because the adverse consequences of doing so would
reasonably be expected to outweigh the public interest benefits of such communication.Suya Jincheng Certified Public Accountants LLP
Nanjing China
Li Laimin
Certified Public Accountant of China
Li Yan
Certified Public Accountant of China
27 April 2021
II.Financial statements
The unit of statement in financial notes is: CNY
Prepared by: Jiangsu Yanghe Distillery Co. Ltd.
Consolidated balance sheet
As at 31 December 2020
Unit: CNY
Item
Balance as at 31 December
2020
Balance as at 31 December
2019
Current assets:
Cash and cash equivalents 7243186362.29 4300144848.67
Settlement reserves
Lending funds
Financial assets held for trading 14301978905.17 17976767209.45
Derivative financial assets
Notes receivables 613496333.71 659266780.81
Accounts receivables 4225230.90 16080618.65
Account receivables financing
Prepayment 9358846.48 200115325.19
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserve
Other receivables 30318938.67 37521590.52
Including:Interests receivable
Dividends receivable
Buying back the sale of financial
assets
Inventories 14852694146.30 14433244696.27
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 182837070.99 183119654.47
Total current assets 37238095834.51 37806260724.03
Non-current assets:
Disbursement of loans and
advances
Investment in debt instruments
Investment in other debt
instruments
Long-term receivables
Long-term equity investments 29528377.16 25361651.38
Investment in other equity
instruments
Other non-current financial assets 6366958225.81 5050851671.16
Investment property
Fixed assets 6882953634.34 7256557503.85
Construction in progress 223468482.24 263153505.12
Productive biological assets
Oil and gas assets
Right-of-use asset
Intangible assets 1713526693.10 1747134144.14
Development expenses
Goodwill 276001989.95 276001989.95
Long-term deferred expenses 127071.76 254143.60
Deferred tax assets 925921403.51 825064057.57
Other non-current assets 209677594.21 204398450.18
Total non-current assets 16628163472.08 15648777116.95
Total assets 53866259306.59 53455037840.98
Current liabilities:
Short-term loans
Borrowings from the central bank
Loans from other banks
Financial liabilities held for trading
Derivative financial liabilities
Notes payable
Accounts payables 1151871136.29 1330649116.82
Advance from customer 6753595187.64
Contract liabilities 8801346891.32
Financial assets sold for repurchase
Customer brokerage deposits
Securities underwriting brokerage
deposits
Receivings from vicariously sold
securities
Employee benefits payable 196241487.31 116094163.25
Taxes payable 2152806156.43 1815288006.47
Other payables 1556699290.45 6521146762.07
Including:Interests payable
Dividends payable
Handling charges and commissions
payable
Reinsurance accounts payables
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities 798216651.49
Total current liabilities 14657181613.29 16536773236.25
Non-current liabilities:
Insurance contract reserves
Long-term loans 36360.00 72723.00
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payables 197049341.93 197623728.85
Long-term payroll payables
Accrued liabilities
Deferred income 85999500.00 89756500.00
Deferred tax liabilities 456339414.38 139259083.16
Other non-current liabilities
Total non-current liabilities 739424616.31 426712035.01
Total liabilities 15396606229.60 16963485271.26
Shareholders' equity
Share capital 1506988000.00 1506988000.00
Other equity instruments
Including: preference shares
Perpetual bonds
Capital reserves 741532550.13 741532550.13
Less: treasury stock 1002128680.79
Other comprehensive income -5213248.93 -3608771.16
Special reserves
Surplus reserves 753494000.00 753494000.00
General risk reserve
Undistributed profits 36489911363.13 33510429712.50
Total equity attributable to
owners of the parent company
38484583983.54 36508835491.47
Non-controlling interests -14930906.55 -17282921.75
Total owners' equity 38469653076.99 36491552569.72
Total liabilities and owners'
equity
53866259306.59 53455037840.98
Legal representative: Zhang Liandong
Person in charge of accounting affairs: Yin Qiuming
Person in charge of accounting department: Zhao Qike
Balance sheet of parent company
As at 31 December 2020
Unit: CNY
Item Balance as at 31 December Balance as at 31 December
2020 2019
Current assets:
Cash and cash equivalents 5713353085.92 3741676596.22
Financial assets held for trading 2096497598.93 6991814305.98
Derivative financial assets
Notes receivables 74100000.00 493500.00
Accounts receivables 387657700.12 900252229.11
Account receivables financing
Prepayment 84206238.58 110564280.51
Other receivables 10403769305.69 8154899373.55
Including:Interests receivable
Dividends receivable 1775818203.33
Inventories 10343443087.16 10476945420.09
Contract assets
Assets held for sale
Non-current assets due within one
year
Other current assets 303163.88
Total current assets 29103027016.40 30376948869.34
Non-current assets:
Investment in debt instruments
Investment in other debt
instruments
Long-term receivables
Long-term equity investments 7964291378.23 7964291378.23
Investment in other equity
instruments
Other non-current financial assets 2480599923.11 1467783926.91
Investment property
Fixed assets 4416370356.00 4641909489.16
Construction in progress 58004537.10 183652813.42
Productive biological assets
Oil and gas assets
Right-of-use asset
Intangible assets 1208261829.54 1230216202.93
Development expenses
Goodwill
Long-term deferred expenses
Deferred tax assets 8032095.76 6181509.39
Other non-current assets 173867010.21 170318838.68
Total Non-current Assets 16309427129.95 15664354158.72
Total Assets 45412454146.35 46041303028.06
Current liabilities:
Short-term loans
Financial liabilities held for trading
Derivative financial liabilities
Notes payable
Accounts payables 839199956.37 1066947279.95
Advance from customer 16238064053.40
Contract liabilities 10764681770.37
Employee benefits payable
Taxes payable 809734252.60 202771495.61
Other payables 186265132.79 180236563.85
Including:Interests payable
Dividends payable
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities 1396504456.42
Total current liabilities 13996385568.55 17688019392.81
Non-current liabilities:
Long-term loans 36360.00 72723.00
Bonds payable
Including:preference shares
Perpetual bonds
Lease liabilities
Long-term payables 144254229.73 144680616.65
Long-term payroll payables
Provisions
Deferred income 5000000.00
Deferred tax liabilities 387147470.28 49541198.05
Other non-current liabilities
Total non-current liabilities 536438060.01 194294537.70
Total liabilities 14532823628.56 17882313930.51
Owners' equity (or shareholders'
equity)
Share capital 1506988000.00 1506988000.00
Other equity instruments
Including: preference shares
Perpetual bonds
Capital reserves 1341628480.93 1341628480.93
Less: treasury stock 1002128680.79
Other comprehensive income
Special reserves
Surplus reserves 753494000.00 753494000.00
Undistributed profits 28279648717.65 24556878616.62
Total owners' equity 30879630517.79 28158989097.55
Total liabilities and owners'
equity
45412454146.35 46041303028.06
Consolidated Income Statement
For the year ended 31 December 2020
Unit: CNY
Item Year 2020 Year 2019
1. Total operating revenue 21101051131.79 23126476885.07
Including:Operating revenue 21101051131.79 23126476885.07
Interest income
Earned premium
Fee and commission income
2. Total operating costs 13773294252.09 14457584017.39
Including: cost of sales 5851904596.71 6626362251.24
Interest expense
Handling charges and commission
expenses
Refunded premiums
Net payments for insurance claims
Net provision for insurance contracts
Bond insurance expense
Reinsurance expenses
Taxes and surcharges 3415645769.03 3201479826.09
Selling and distribution expenses 2603804157.78 2691711170.59
General and administrative expenses 1729080201.93 1856491727.00
Research and Development
expenses
260094291.03 159965593.88
Financial expenses -87234764.39 -78426551.41
Including:Interest expenses 1964.00 2618.00
Interest income 104495154.37 77589503.94
Plus: Other income 98969626.89 84977755.15
Investment income ("-" for losses) 1206683362.49 850554207.62
Including: income from investment in
associates and joint ventures
3940820.47 -4447288.34
Disposal of financial instruments at
amortised cost ("-" for losses)
Foreign exchange gains ("-" for
losses)
Net exposure to hedging gains("-"for
loss)
Gains from the changes in fair values(“-“ for losses)
1267682598.52 158679505.33
Losses from credit impairment ("-" for
losses)
246482.45 -18956346.26
Losses from asset impairment ("-" for
losses)
-6196876.85 -2248496.85
Gains from disposal of assets ("-" for
losses)
45438.89 19983101.67
3. Operating profits ("-" for losses) 9895187512.09 9761882594.34
Plus: non-operating income 25039870.29 22245954.37
Less: non-operating expenses 41325490.38 13324291.70
4. Total profits before tax ("-" for
total losses)
9878901892.00 9770804257.01
Less: income tax expenses 2394295578.08 2384713341.80
5. Net profit ("-" for net loss) 7484606313.92 7386090915.21
Classification by operating continuity
Net profit from continuing operation
("-" for losses)
7484606313.92 7386090915.21
Net profit from discontinued operation
("-" for losses)
Classification by owners
Attributable to owners of the parent
company
7482228633.63 7382822726.87
Attributable to non-controlling
interests
2377680.29 3268188.34
6.Net of tax from other
comprehensive income
-1630142.86 -2228748.45
Net of tax from other comprehensive
income to the owner of the parent
company
-1604477.77 -2238030.31
Other comprehensive income cannot
reclassified into the profit and loss:
Including: Changes in remeasured
defined benefit obligations
Share in other comprehensive
income that cannot be classified into
profit and loss under equity method
Changes in the fair value of other
equity instruments
Fair value changes in enterprise's
own credit risk
Others
Other comprehensive income that will
be reclassified into the profit and loss
-1604477.77 -2238030.31
Including: Share in other
comprehensive income that will be
classified into profit and loss under
equity method
-342416.50 178619.29
Net gain on debt instruments at fair
value through other comprehensive
income
Profit and loss of fair value changes
of financial assets available for sale
The amount of financial assets
reclassified into other comprehensive
income
Hold-to-maturity investments are
reclassified as gains and losses on
financial assets available for sal
Other debt investment credit
impairment provision
Cash flow hedging reserve
Balance arising from the translation of
foreign currency financial statements
-1262061.27 -2416649.60
Others
Net of tax from other comprehensive
income to non-controlling interests
-25665.09 9281.86
7. Total comprehensive income 7482976171.06 7383862166.76
Total comprehensive income
attributable to owners of the parent
company
7480624155.86 7380584696.56
Total comprehensive income
attributable to non-controlling
interests
2352015.20 3277470.20
8. Earnings per share
(1) Basic earnings per share 4.9843 4.8991
(2) Diluted earnings per share 4.9843 4.8991
Where an enterprise is merged under the same control in the current period the net profit
realized by the merged party before the merger is: CNY 0.00 and the net profit realized
by the merged party in the previous period is: CNY 0.00.Legal representative: Zhang Liandong
Person in charge of accounting affairs: Yin Qiuming
Person in charge of accounting department: Zhao Qike
Income statement of parent company
For the year ended 31 December 2020
Unit: CNY
Item Year 2020 Year 2019
1. Operating revenue 9815174332.42 9617136329.14
Less:Cost of sales 4803282641.30 5300856882.21
Taxes and surcharges 2935628072.08 2584040346.46
Selling and distribution expenses 3062752.15 6153145.12
General and administrative
expenses
886635671.06 981489516.86
Research and Development
expenses
244483533.34 157807557.00
Financial expenses -61151383.38 -56610787.22
Including: Interest expenses 1964.00 2618.00
Interest income 75649553.46 58715233.69
Plus: Other income 16130425.67 15964590.12
Investment income ("-" for losses) 6468741332.69 6858473174.64
Including: income from investment
in associates and joint ventures
Disposal of financial instruments at
amortised cost ("-" for losses)
Net exposure to hedging gains ("-
"for loss)
Gains from the changes in fairvalues (“-“ for losses)
1350425088.90 -106912987.67
Losses from credit impairment ("-"
for losses)
1891472.97 -3495447.82
Losses from asset impairment ("-"
for losses)
-6196876.85 -2248496.85
Gains from disposal of assets ("-"
for losses)
9155544.78
2. Operating profits ("-" For
Losses)
8834224489.25 7414336045.91
Plus: non-operating income 10689415.40 3926021.74
Less: non-operating expenses 32071726.22 4260647.57
3. Total profits before tax ("-" For
Total Losses)
8812842178.43 7414001420.08
Less: income tax expenses 587325094.40 207035832.38
4. Net profit ("-" For Net Loss) 8225517084.03 7206965587.70
Net profit from continuing operation
("-" for losses)
8225517084.03 7206965587.70
Net profit from discontinued
operation ("-" for losses)
5.Net of tax from other
comprehensive income
Other comprehensive income
cannot reclassified into the profit
and loss:
Including: Changes in remeasured
defined benefit obligations
Other comprehensive income that
cannot be transferred under the
equity method
Net gain on equity instrument at fair
value through other comprehensive
income
Fair value changes in enterprise's
own credit risk
Others
Other comprehensive income that
will be reclassified into the profit and
loss
Including: Share in other
comprehensive income that will be
classified into profit and loss under
equity method
Net gain on debt instruments at fair
value through other comprehensive
income
Profit and loss of fair value changes
of financial assets available for sale
The amount of financial assets
reclassified into other
comprehensive income
Hold-to-maturity investments are
reclassified as gains and losses on
financial assets available for sale
Other debt investment credit
impairment provision
Cash flow hedging reserve
Balance arising from the translation
of foreign currency financial
statements
others
6. Total comprehensive income 8225517084.03 7206965587.70
7. Earnings per share
(1)Basic earnings per share
(2)Diluted earnings per share
Consolidated Statement of Cash Flows
For the year ended 31 December 2020
Unit: CNY
Item Year 2020 Year 2019
1. Cash flows from operating
activities
Cash received from sale of goods
and rendering of services
21527429733.96 28157803517.41
Net increase in customer bank
deposits and placement from banks
and other financial institutions
Net increase in loans from central
bank
Net increase in loans from other
financial institutions
Premiums received from original
insurance contracts
Net cash received from reinsurance
business
Net increase in deposits and
investments from policyholders
Cash received from interest
handling charges and commissions
Net increase in placements from
other financial institutions
Net capital increase in repurchase
business
Net cash received for the sale of
securities
Refunds of taxes and surcharges 3754079.47
Cash received from other operating
activities
369789635.60 260350164.67
Sub-total of cash inflows from
operating activities
21900973449.03 28418153682.08
Cash paid for goods purchased and
services received
6286561510.66 6764469880.73
Net increase in loans and advances
to customers
Net increase in deposits in central
bank and other banks and financial
institutions
Cash paid for original insurance
contract claims
A net increase in divested funds
Cash paid for interests handling
charges and commissions
Cash paid for policy dividends
Cash paid to and on behalf of
employees
2154721871.26 2248376328.48
Cash paid for taxes and surcharges 7194164716.07 9642918810.91
Cash paid for other operating
activities
2286734515.24 2964496790.55
Sub-total of cash outflows from
operating activities
17922182613.23 21620261810.67
Net cash flows from operating
activities
3978790835.80 6797891871.41
2. Cash flows from investing
activities
Cash received from disposal of
investments
29694068687.78 39845997675.65
Cash received from returns on
investments
1202721025.76 828033083.69
Net cash received from disposal of
fixed assets intangible assets and
other long-term assets
210268.97 24075082.94
Net cash received from disposal of
subsidiaries and other business
units
Cash received from other investing
activities
Sub-total of cash inflows from
investing activities
30896999982.51 40698105842.28
Cash paid to acquire and construct
fixed assets intangible assets and
other long-term assets
353104399.72 317159366.30
Cash paid for investments 26071060798.23 41674161609.88
Net increase in pledge loans
Net cash paid to acquire
subsidiaries and other business
units
Cash paid for other investing
activities
Sub-total of cash outflows from
investing activities
26424165197.95 41991320976.18
Net cash flows from investing
activities
4472834784.56 -1293215133.90
3. Cash flows from financing
activities
Cash received from investors
Including: cash received by
subsidiaries from investments by
minority shareholders
Cash received from borrowings
Cash received from other financing
activities
Sub-total of cash inflows from
financing activities
Cash paid for debt repayments 36363.00 36365.00
Cash paid for distribution of
dividends and profits or payment of
interest
4502748947.00 4822364218.00
Including: dividends and profits paid
to minority shareholders by
subsidiaries
Cash paid for other financing
activities
1002128680.79 750000.00
Sub-total of cash outflows from
financing activities
5504913990.79 4823150583.00
Net cash flows from financing
activities
-5504913990.79 -4823150583.00
4. Effect of fluctuation in
exchange rate on cash and cash
equivalents
-3670115.95 3270386.19
5. Net increase in cash and cash
equivalents
2943041513.62 684796540.70
Plus: balance of cash and cash
equivalents at the beginning of the
period
4300144848.67 3615348307.97
6. Balance of cash and cash
equivalents at the end of the
period
7243186362.29 4300144848.67
Cash flow statements of parent company
For the year ended 31 December 2020
Unit: CNY
Item Year 2020 Year 2019
1. Cash flows from operating
activities
Cash received from sale of goods
and rendering of services
7298161290.23 12584198907.24
Refunds of taxes and surcharges 3748884.67
Cash received from other operating
activities
115821893.81 132079899.80
Sub-total of cash inflows from
operating activities
7417732068.71 12716278807.04
Cash paid for goods purchased and
services received
4754965644.22 4836044878.55
Cash paid to and on behalf of
employees
976080459.90 1068195037.31
Cash paid for taxes and surcharges 3310811322.45 4436521595.18
Cash paid for other operating
activities
658812311.64 7532523407.67
Sub-total of cash outflows from
operating activities
9700669738.21 17873284918.71
Net cash flows from operating
activities
-2282937669.50 -5157006111.67
2. Cash flows from investing
activities
Cash received from disposal of
investments
14332925799.75 22661938083.48
Cash received from returns on
investments
4692923129.36 6816504503.68
Net cash received from disposal of
fixed assets intangible assets and
other long-term assets
53146.71 11230158.55
Net cash received from disposal of
subsidiaries and other business
units
Cash received from other investing
activities
Sub-total of cash inflows from
investing activities
19025902075.82 29489672745.71
Cash paid to acquire and construct
fixed assets intangible assets and
other long-term assets
165081329.81 218187673.01
Cash paid for investments 9100000000.00 17400106712.99
Net cash paid to acquire
subsidiaries and other business
units
Cash paid for other investing
activities
Sub-total of cash outflows from
investing activities
9265081329.81 17618294386.00
Net cash flows from investing
activities
9760820746.01 11871378359.71
3. Cash flows from financing
activities
Cash received from investors
Cash received from loans
Cash received from other financing
activities
Sub-total of cash inflows from
financing activities
Cash paid for debt repayments 36363.00 36365.00
Cash paid for distribution of
dividends and profits or payment of
interest
4502748947.00 4822364218.00
Cash paid for other financing
activities
1002128680.79
Sub-total of cash outflows from
financing activities
5504913990.79 4822400583.00
Net cash flows from financing
activities
-5504913990.79 -4822400583.00
4. Effect of fluctuation in
exchange rate on cash and cash
equivalents
-1292596.02 130761.11
5. Net increase in cash and cash 1971676489.70 1892102426.15
equivalents
Plus: balance of cash and cash
equivalents at the beginning of the
period
3741676596.22 1849574170.07
6. Balance of cash and cash
equivalents at the end of the
period
5713353085.92 3741676596.22
Consolidated statement of changes in shareholders' equity
For the year ended 31 December 2020
Unit: CNY
Item
Year 2020
Equity attributable to owners of the parent company Non-
controlli
ng
interest
s
Total
sharehol
ders'
equity Share capital
Other equity
instruments
Capital
reserve
Less:
Treasur
y stock
Other
Comprehen
sive
Income
Special
reserve
Surplus
reserve
Genera
l risk
reserve
Undistribut
ed profit
Others Subtotal
Preferre
d stock
Perpe
tual
bond
Other
s
1. Balance as
at 31
December of
last year
1506988000.
00
7415325
50.13
-
3608771.1
6
753494
000.00
33510429
712.50
36508835
491.47
-
172829
21.75
364915
52569.7
2
Plus:
adjustments
for changes in
accounting
policies
Adjustments
for correction
of accounting
errors in prior
year
Business
combinations
under
common
control
Others
2. Balance as
at January 1
of the current
1506988000.
00
7415325
50.13
-
3608771.1
6
753494
000.00
33510429
712.50
36508835
491.47
-
172829
21.75
364915
52569.7
2
year
3.Increases/d
ecreases in
the current
year (“-” for
decreases)
10021
28680.
79
-
1604477.7
7
29794816
50.63
1975748
492.07
235201
5.20
197810
0507.27
(1) Total
comprehensiv
e income
-
1604477.7
7
74822286
33.63
7480624
155.86
235201
5.20
748297
6171.06
(2) Capital
contributed or
reduced by
owners
10021
28680.
79
-
1002128
680.79
-
100212
8680.79
Capital
contributions
by owners
Capital
contributions
by other equity
instruments
holders
Amounts of
share-based
payments
recognized in
owners' equity
Others
10021
28680.
79
-
1002128
680.79
-
100212
8680.79
(3) Profit
distribution
-
45027469
83.00
-
4502746
983.00
-
450274
6983.00
Withdrawal of
surplus
reserves
Withdrawal of
general risk
reserve
Profit
distributed to
owners (or
shareholders)
-
45027469
83.00
-
4502746
983.00
-
450274
6983.00
Others
(4) Internal
carry-forward
of owners'
equity
Conversion of
capital
reserves into
paid-in capital
Conversion of
surplus
reserves into
paid-in capital
Surplus
reserves
offsetting
losses
Amount of
Changes in
setting benefit
plan transfer
to retained
earnings
Other
comprehensiv
e income
transferred to
retained
earnings
Others
(5) Special
reserves
Withdrawal for
the period
Use for the
period
Others
4. Balance as
at 31
December of
the current
year
1506988000.
00
7415325
50.13
10021
28680.
79
-
5213248.9
3
753494
000.00
36489911
363.13
38484583
983.54
-
149309
06.55
384696
53076.9
9
Item
Year 2019
Equity attributable to owners of the parent company
Non-
controlli
ng
interest
s
Total
sharehol
ders'
equity
Share capital
Other equity
instruments
Capital
reserve
Less:
Treasur
y stock
Other
Comprehen
sive Income
Special
reserve
Surplus
reserve
Genera
l risk
reserve
Undistribut
ed profit
Others Subtotal
Preferre
d stock
Perpe
tual
bond
Other
s
1. Balance as
at 31
December of
last year
1506988000.
00
7417040
76.44
-
141964710
.15
753494
000.00
30784308
899.94
33644530
266.23
-
200117
35.87
336245
18530.3
6
Plus:
adjustments
for changes in
140593969
.30
165659685
.69
30625365
4.99
29817.6
2
306283
472.61
accounting
policies
Adjustments
for correction
of accounting
errors in prior
year
Business
combinations
under
common
control
Others
2. Balance as
at January 1
of the
current year
1506988000.
00
7417040
76.44
-
1370740.8
5
753494
000.00
30949968
585.63
33950783
921.22
-
199819
18.25
339308
02002.9
7
3.Increases/d
ecreases in
the current
year (“-” for
decreases)
-
171526.3
1
-
2238030.3
1
25604611
26.87
2558051
570.25
269899
6.50
256075
0566.75
(1) Total
comprehensiv
e income
-
2238030.3
1
73828227
26.87
7380584
696.56
327747
0.20
738386
2166.76
(2) Capital
contributed or
reduced by
owners
-
171526.3
1
-
171526.31
-
578473.
70
-
750000.
01
Capital
contributions
by owners
Capital
contributions
by other
equity
instruments
holders
Amounts of
share-based
payments
recognized in
owners' equity
Others
-
171526.3
1
-
171526.31
-
578473.
70
-
750000.
01
(3) Profit
distribution
-
48223616
00.00
-
4822361
600.00
-
482236
1600.00
Withdrawal of
surplus
reserves
Withdrawal of
general risk
reserve
Profit
distributed to
owners (or
shareholders)
-
48223616
00.00
-
4822361
600.00
-
482236
1600.00
Others
(4) Internal
carry-forward
of owners'
equity
Conversion of
capital
reserves into
paid-in capital
Conversion of
surplus
reserves into
paid-in capital
Surplus
reserves
offsetting
losses
Carry-forward
of retained
earnings from
changes in
defined
benefit plans
Other
comprehensiv
e income
transferred to
retained
earnings
Others
(5) Special
reserves
Withdrawal for
the period
Use for the
period
(6) Others
4. Balance as
at 31
December of
the current
year
1506988000.
00
7415325
50.13
-
3608771.1
6
753494
000.00
33510429
712.50
36508835
491.47
-
172829
21.75
364915
52569.7
2
Statement of changes in shareholders' equity of parent company
For the year ended 31 December 2020
Unit: CNY
Item
Year 2020
Share
capital
Other equity instruments
Capital
reserve
Less:
Treasury
stock
Other
Comprehen
sive
Income
Special
reserv
e
Surplus
reserve
Undistributed
profit
Other
s
Total
shareholder
s' equity
Preferred
stock
Perpetual
bond
Others
1. Balance as at 31
December of last year
15069880
00.00
134162848
0.93
753494000
.00
2455687861
6.62
281589890
97.55
Plus: adjustments for
changes in accounting
policies
adjustments for correction
of accounting errors in
prior year
Others
2. Balance as at January
1 of the current year
15069880
00.00
134162848
0.93
753494000
.00
2455687861
6.62
281589890
97.55
3.Increases/decreases
in the current year (“-”
for decreases)
1002128
680.79
3722770101.
03
272064142
0.24
(1) Total comprehensive
income
8225517084.
03
822551708
4.03
(2) Capital contributed or
reduced by owners
1002128
680.79
-
100212868
0.79
Capital contributions by
owners (common stock)
Capital contributions by
other equity instruments
holders
Amounts of share-based
payments recognized in
owners' equity
Others
1002128
680.79
-
100212868
0.79
(3)Profit distribution
-
4502746983.
00
-
450274698
3.00
Withdrawal of surplus
reserves
Profit distributed to
owners (or shareholders)
-
4502746983.
00
-
450274698
3.00
Others
(4) Internal carry-forward
of owners' equity
Conversion of capital
reserves into paid-in
capital
Conversion of surplus
reserves into paid-in
capital
Surplus reserves
offsetting losses
Amount of Changes in
setting benefit plan
transfer to retained
earnings
Other comprehensive
income transferred to
retained earnings
Others
(5) Special reserves
Withdrawal for the period
Use for the period
(6) Others
4. Balance as at 31
December of the current
year
15069880
00.00
134162848
0.93
1002128
680.79
753494000
.00
2827964871
7.65
308796305
17.79
Statement of Changes in Shareholders' Equity
For the year ended 31 December 2020
Unit: CNY
Item
Year 2019
Share
capital
Other equity instruments
Capital
reserve
Less:
Treasury
stock
Other
Comprehen
sive
Income
Special
reserv
e
Surplus
reserve
Undistributed
profit
Other
s
Total
shareholder
s' equity
Preferred
stock
Perpetual
bond
Others
1. Balance as at 31
December of last year
15069880
00.00
134162848
0.93
753494000
.00
2194251669
5.42
255446271
76.35
Plus: adjustments for
changes in accounting
policies
229757933.5
0
229757933.
50
adjustments for correction
of accounting errors in
prior year
Others
2. Balance as at January
1 of the current year
15069880
00.00
134162848
0.93
753494000
.00
2217227462
8.92
257743851
09.85
3.Increases/decreases
in the current year (“-”
for decreases)
2384603987.
70
238460398
7.70
(1) Total comprehensive
income
7206965587.
70
720696558
7.70
(2) Capital contributed or
reduced by owners
Capital contributions by
owners (common stock)
Capital contributions by
other equity instruments
holders
Amounts of share-based
payments recognized in
owners' equity
Others
(3)Profit distribution
-
4822361600.
00
-
482236160
0.00
Withdrawal of surplus
reserves
Profit distributed to
owners (or shareholders)
-
4822361600.
00
-
482236160
0.00
Others
(4) Internal carry-forward
of owners' equity
Conversion of capital
reserves into paid-in
capital
Conversion of surplus
reserves into paid-in
capital
Surplus reserves
offsetting losses
Amount of Changes in
setting benefit plan
transfer to retained
earnings
Other comprehensive
income transferred to
retained earnings
Others
(5) Special reserves
Withdrawal for the period
Use for the period
(6) Others
4. Balance as at 31
December of the current
year
15069880
00.00
134162848
0.93
753494000
.00
2455687861
6.62
281589890
97.55
III. Company profile
Jiangsu Yanghe Distillery Co. Ltd.(hereinafter referred to as “the Company”)was
established on 26 December 2002 verified by the Government of Jiangsu Province
details referred to Reply on The approval of Establishment of Jiangsu Yanghe Distillery
Co. Ltd. by the provincial government (SuZhengFu [2002]No.155) and it was a company
founded by Jiangsu Yanghe Group Co.Ltd. Shanghai Haiyan Logistics Development
Co.Ltd. Nantong Zongyi Investment Co.Ltd.Shanghai Jieqiang Tobacco Sugar & Wine
(Group) Co.Ltd. Jiangsu Venture Capital Co.Ltd. China National Research Institute of
Food and Fermentation Industries Co. Ltd. Nantong Shengfu Industrial Trade Co. Ltd.
and Yang Yandong and other totally 14 nature persons. On 27 December the Compamy
obtained the unified social credit code (91460000201357188U) issued by Jiangsu
Provincial Administration for Industry and Commerce. The registered capital was CNY 68
million and the share capital was 68000000 (CNY 1 per share). According to the
documents verified by Jiangsu Provincial Department of Finance (Su Cai Guo Zi [2002]
No.178) all the fund capital converts into share capital according to the ratio
1:0.65561among which Jiangsu Yanghe Group Co.Ltd contributed CNY 52264100 of
evaluated physical assets and CNY 735900 of currency covered into 34747330 shares
accounting for 51.099% of the total share capital; Shanghai Haiyan Logistics
Development Co.Ltd contributed CNY 15000000 of currency convered into 9834150
shares accounting for the 14.462% of the total share capital; Nantong Zongyi Investment
Co.Ltd. contributed CNY 15000000 of currency converted into 9834150 shares
accounting for 14.462% of the total share capital; ShangHai Jieqiang Tobacco Sugar &
Wine (Group) Co.Ltd. contributed CNY 7000000 of currency converted into 4589270
shares accounting for 6.749% of the total share capital; Jiangsu Venture Capital Co.Ltd.contributed CNY 3000000 of currency concerted into 1966830 shares accounting for
2.892% of the total share capital; China National Research Institute of Food and
Fermentation Industries Co. Ltd. contributed CNY 1000000 of currency converted into
655611 shares accounting for 0.964% of the total share capital; Nantong Shengfu
Industrial Trade Co. Ltd. contributed CNY 1000000 of currency converted into 655611
shares accounting for 0.964% of the total share capital; Yang Yandong and other totally
14 nature persons contributed CNY 8720200 of currency converted into 5717050
shares accounting for 8.408% of the total share capital.
On 13 September 2009 the Company was verified by China Securities Regulatory
Commission according to the document Reply on Approving Initial Public Offering of
Jiangsu Yanghe Distillery Co. Ltd. (Zheng Jian Approval [2009] No.1077) .The
Company announced the initial public offering of 45000000 common shares on 27
February 2009 and was listed for transactions in SZSE since 6 November 2009.
According to the decisions of 2010 Shareholders’ General Meeting on 23 April 2011
based on the total capital of 450000000 shares on 31 December 2010 the capital
reserves per 10 shares were converted into 10 shares. After the conversion the total
share capital of the Company was 900000000 as well as registered capital of CNY
900000000.
According to the decision of 2011 Shareholders’ General Meeting on 17 May 2012
based on the total capital of 900000000 shares on 31 December 2011 the capital
reserves per 10 shares were converted into 2 shares. After the conversion the total
share capital of the Company was 1080000000 as well as registered capital of CNY
108000000.
According to the Proposal of Initial Share Repurchase of Public Shares approved by
2012 Shareholders’ General Meeting on 17 May 2013 the Company used owned funds
to repurchase public shares and the price of public shares was no more than CNY 70.00
per share as well as the total amount of repurchase shares was no more than CNY 10
billion. The form of repurchase was centralized competitive bidding approved by SZSE.Until May 2014 the amount of repurchase shares was 3580000 and the total amount of
payment CNY 157793218.58. The shares repurchased had been canceled according to
the law with the procedure of capital reduction. After the repurchase the registered
capital became CNY 1076420000 and the total share capital of the Company became
1076420000.
According to the decision of 2014 Shareholders’ General Meeting on 26 May 2015
based on the total capital of 1076420000 shares on 31 December 2014 the capital
reserves per 10 shares were converted into 4 shares. After the conversion the total
share capital of the company was 1506988000 as well as the registered capital of CNY
1506988000.
Registered address of the Company: 118 Middle AvenueYanghe Town Suqian City
Jiangsu Province
Company type: Incorporated company (Listed)
Industry of the Company: Brewing food industry
Business scope of the Company:production and sale of liquor wholesaling and retailing
of prepackaged foodgrain purchase self-operating and agency of import and export of
various types of merchandise and technology excluding merchandise and technology
limited or prohibited by the state for import and export domestic trade construction of e-
commerce platform and online sales.( Business activities of projects needed to beapproved by law must be approved according to related departments)
Parent company of the Company:Jiangsu Yanghe Group Co.Ltd.The scope of the Company's consolidated financial statements is based on control and
all subsidiaries are included in the consolidation scope of the consolidated financial
statements.
Changes of the scope of consolidation are as follows:
Subsidiaries that are newly incorporated into the scope of consolidation are
shown in the following table:
Name Measure of acquisition
Jiangsu Yanghe Painting and Calligraphy Newly establishment
Academy
Subsidiaries that are no longer incorporated into the scope of consolidation are
shown in the following table:
Name Reason
Huaian Huaqu Wine Development Co.Ltd. Liquidation and cancellation
Jiangsu Huaqu Wine Group Nanjing Co.Ltd. Liquidation and cancellation
Jiangsu Huaqu Wine Group Nantong Co.Ltd.Liquidation and cancellation
Jiangsu Huaqu Wine Group Suzhou Co. Ltd. Liquidation and cancellation
Taizhou Huaqu Wine Development Co.Ltd. Liquidation and cancellation
Jiangsu Huaqu Wine Group Wuxi Co. Ltd. Liquidation and cancellation
Jiangsu Huaqu Wine Group Yancheng Co.Ltd.Liquidation and cancellation
Guizhou Guijiu Package Co.Ltd. Liquidation and cancellation
Details of the subsidiaries incorporated into the consolidated financial statements show
on “Note 9. 1.Interests in subsidiaries” Changes in the scope of consolidation show on
“Note 8. Change in consolidated scope”.
IV.Basis of preparation of financial statements
1. Basis of preparation
The Company has prepared its financial statements on a going concern basis and
recognized and measured its accounting items in compliance with the Accounting
Standards for Business Enterprises—Basic Standards and various concrete accounting
standards and other relevant provisions on the basis of actual transactions and events.
2. Going concern
The Company has sustainable operation ability for at least 12 months from the end of the
reporting period. In addition there is no significant event affecting going concern.V. Significant accounting policies and accounting estimates
(1) Sales contract
The Company's sales products promotional products and other goods belong to the
performance obligations performed at a certain point.The Company recognizes the sales revenue when the goods are delivered to the
customer and the control of the goods is transferred. For export sales business the
Company recognizes the revenue after the goods are delivered and the customs
clearance procedures are completed.
According to the marketing policy and the dealer sales of final product the Company
gives the dealer a percentage discount and regularly or irregularly settles with dealers.
At the time of settlement the discounts are recorded in a sales invoice issued. The net
amount of invoice value after the deduction of the discount sales income is recognized as
revenue according to the accrual principle. The discounts that have occurred and have
not yet been settled at the end of the current period shall be taken provision from the
sales revenue and recorded into the contract liabilities.
(2) Service Contract
The service contract provided by the Company contains the performance obligation of
the lease service provided. Since the customer obtains and consumes the economic
benefits brought by the performance of the contract at the same time it is regarded as
the performance obligation performed within a certain period of time and is equally
apportioned and confirmed during the service provision.
1. Statement of compliance with the ASBE
The financial statements of the Company have been prepared in accordance with ASBE
and present truly and completely the group’s financial position the Company’s and
results of operations and changes in shareholders' equity cash flows and other related
information for the reporting period.
2. Accounting period
The Company’s accounting period is calendar year as its accounting year i.e. from 1
January to 31 December.
3. Operating cycle
The Company’s accounting period is 12 months.
4. Functional currency
The Company has adopted China Yuan (CNY) as functional currency.
5. The accounting treatment of business combinations involving
enterprises under common control and not under common control
(1) Accounting treatment method for business combination under common control
Business combination under common control is accounted for under pooling of
interest method.
Assets and liabilities obtained by the Company through business combination under
common control shall be measured at the book value as stated in the combine’s
accounting record on the combination date. The share of the book value of the
merged party’s owner’s equity in the consolidated financial statements is taken as
the initial investment cost of long-term equity investments in individual financial
statements. The capital reserve (stock premium or capital premium) is adjusted
according to the difference between the book value of net asset acquired through
combination and the book value of consideration paid for the combination (or total
par value of shares issued). If the capital reserve (stock premium or capital premium)
is insufficient to offset the retained earnings shall be adjusted.
(2) Accounting treatment method of business combination not under common control
The Company accounts for business combination not under common control under
purchase method.
a) All the net identifiable assets liabilities or contingent liabilities obtained by the
Company through business combination not under common control shall be
measured at fair value. Assets paid liabilities incurred or assumed and the equity
securities issued as consideration for combination are generally measured at fair
value on the acquisition date and differences between their fair values and book
values shall be included in the current profit and loss.b) The cost of acquisition shall be respectively determined for the following
conditions;
i.Business combination of a transaction implementation the combination cost
shall be the sum of the fair value of the assets given the liabilities incurred or
assumed and the equity securities issued by the Company in exchange for the
control on the acquisition date and contingent considerations meeting the
recognition conditions. The combination cost is the initial investment costs of
long-term equity investments in individual financial statements.
ii.Business combination through multiple transactions step by step to realized
the combination cost shall be the sum of the fair value measurement on the
acquisition of the equity investment that holding before the acquisition date and
cost of all the new investment on the acquisition date. Long-term equity
investment cost in individual financial statements shall be the sum of the book
value of the equity investment that holding before the acquisition date and cost
of all the new investment on the acquisition date. A package deal is excluded.The Company on the acquisition date allocates the combination costs between the
identifiable assets and liabilities acquired
i.All assets of the acquiree obtained by the Company through business
combination(not limited to those that have been recognized by the acquiree)
other than intangible assets shall be separately recognized and measured at
fair value when the future economic benefits arising thereafter are expected to
flow into the Company and the fair value can be reliably measured.
ii.Intangible assets of the acquiree obtained by the Company through business
combination shall be separately recognized and measured at fair value when
their fair values can be reliably measured.iii. All liabilities of the acquiree obtained by the Company through business
combination other than contingent liabilities shall be separately recognized
and measured at fair value when fulfillment of relevant obligations are expected
to bring future economic benefits to the Company and the fair value can be
reliably measured.
iv.Contingent liabilities of the acquiree obtained by the Company through
business combination shall be separately recognized as liabilities and
measured at fair value when their fair values can be reliably measured.v.When the Company allocates the cost of business combination and
recognizes the identifiable assets and liabilities acquired through combination it
shall not include any goodwill and deferred income taxes that have been
recognized by the acquiree before the business combination.c) Treatment of the difference between the business combination costs and the fair
value of net identifiable asset acquired from the acquiree through combination
i.The Company shall recognize the difference of the combination costs in
excess of the fair value of the net identifiable asset acquired from the acquiree
through combination as goodwill.ii.The Company shall recognize the difference of the combination costs in short
of the fair value of the net identifiable asset acquired from the acquiree through
combination according to the following provisions:
Review the measurement of fair values of all the identifiable assets liabilities
and contingent liabilities acquired from the acquiree and the combination costs;
After the review if the combination costs are still in short of the fair value of the
net identifiable asset acquired from the acquiree through combination include
the difference in the current profit and loss.
(3)Treatment of relevant expenses arising from the Company’s business combination
a) Relevant expenses directly arising from the business combination of the
Company (including the expenses for audit legal services evaluation and
consultation or other intermediary costs for business combination) shall be included
in the current profit and loss when they are incurred.
b) Commissions fees and other expenses paid on issuance of bonds and
undertaking of other debts for the business combination shall be included in the
initial measurement amount of debt securities.i.Where the bonds are issued at discount or par value that part of expenses will
increase the amount of the discount;
ii.Where the bonds are issued at premium that part of expenses will decrease
the amount of the premium.
c) Fees commissions and other transaction expenses paid on issuance of equity
securities as combination consideration in the business combination shall be
included in the initial measurement amount of equity securities.i.Where the equity securities are issued at premium that part of expenses shall
be deducted from capital reserves (stock premium);
ii.Where the equity securities are issued at par value or discount that part of
expenses shall be deducted from the retained earnings.
6. Preparation of consolidated financial statements
(1) Consistency of accounting policies and accounting period
All the subsidiaries within the consolidation scope of consolidated financial statements
shall adopt the same accounting policies and accounting periods as those of the
Company. If the accounting policies or accounting periods of a subsidiary are different
from those of the Company the financial statements of the subsidiary upon preparation
of consolidated financial statements shall be adjusted according to the accounting
policies and accounting periods of the Company.
(2) Preparation method of consolidated financial statements
The consolidated financial statements are based on the financial statements of the
Company and its subsidiaries and are prepared by the parent company according to
other relevant information after the adjustment to long-term equity investments in
subsidiaries under the equity method and the elimination of effects of the internal
transactions between the Company and its subsidiaries and between the subsidiaries on
the consolidated financial statement.
(3) Reflection of excess losses incurred to a subsidiary in the consolidated financial
statements
In the consolidated financial statements where the current losses undertaken by the
parent company are in excess of its share of owners’ equity in the subsidiary at the
beginning of the period the balance shall reduce the owners’ equity (retained earnings)
of the parent company; where the current losses undertaken by a subsidiary’s non-
controlling shareholders excess those non-controlling shareholders’ share of owners’
equity in the subsidiary at the beginning of the period the balance shall reduce the non-
controlling interests.
(4) Changes in number of subsidiaries during the reporting period
a) Acquisition of subsidiaries during the reporting period
i. Treatment of acquiring subsidiaries from business combination under
common control during the reporting period
During the reporting period if the Company acquires subsidiaries from the
business combination under common control the opening balance in the
consolidated balance sheet shall be adjusted. The income expenses and
profits of the newly acquired subsidiaries from the beginning to the end of the
reporting period shall be included in the consolidated income statement. The
cash flows of the newly acquired subsidiaries from the beginning to the end of
the reporting period shall be included in the consolidated statement of cash
flows.ii. Treatment of acquiring subsidiaries from business combination not under
common control during the reporting period
During the reporting period if the Company acquires subsidiaries from the
business combination not under common control the opening balance in the
consolidated balance sheet shall not be adjusted. The income expenses and
profits of the newly acquired subsidiaries from the acquisition date to the end of
the reporting period shall be included in the consolidated income statement.The cash flows of the newly acquired subsidiaries from the acquisition date to
the end of the reporting period shall be included in the consolidated statement
of cash flows.b) Treatment of disposing subsidiaries during the reporting period
During the reporting period if the Company disposes subsidiaries the opening
balance in the consolidated balance sheet shall not be adjusted. The income
expenses and profits of the newly disposed sub diaries from the beginning to the
disposal date shall be included in the consolidated income statement. The cash
flows from the beginning to the disposal date shall be included in the consolidated
statement of cash flows.
7. Classification of joint venture arrangements and the accounting
treatment method of common operation
(1) Classification of joint venture arrangements
A joint arrangement is classified as either a joint operation or a joint venture. A joint
operation is a joint arrangement whereby the joint operators have rights to the assets
and obligations for the liabilities relating to the arrangement. A joint venture is a joint
arrangement whereby the joint ventures only have the rights to the net assets under this
arrangement.
A joint arrangement that is not structured through a separate vehicle shall be classified
as a joint operation. A separate vehicle refers to a separately identifiable financial
structure including separate legal entities or entities without a legal personality but
recognized by statute.
A joint arrangement that is structured through a separate vehicle is usually classified as a
joint venture. However when a joint arrangement provides clear evidence that it meets
any of the following requirements and complies with applicable laws and regulations as a
joint operation:
a) The legal form of the joint arrangement indicates that the parties that have joint
control have rights to the assets and obligations for the liabilities relating to the
arrangement.b) The terms of the joint arrangement specify that the parties that have joint control
have the rights to the assets and the obligations for the liabilities relating to the
arrangement.c) Other facts and circumstances indicate that the parties that have joint control
have rights to the assets and the obligations for the liabilities relating to the
arrangement---for example the parties that have joint control have rights to
substantially all of the output of the arrangement and the arrangement depends on
the parties that have joint control on a continuous basis for settling the liabilities of
the arrangement.
(2) Accounting treatment of a joint operation
A joint operator shall recognize the following items in relation to its interest in a joint
operation and account for them in accordance with relevant accounting standards:
a) Its solely-held assets and its share of any assets held jointly;
b) Its solely-assumed liabilities and its share of any liabilities incurred jointly;
c) Its revenue from the sale of its share of the output arising from the joint operation;
d) Its share of the revenue from sale of the output by the joint operation; and
e) Its solely-incurred expenses and its share of any expenses incurred jointly.
8. Cash and cash equivalents
Cash comprises cash on hand and deposits that can be readily withdrawn on demand.
Cash equivalents are the company’s short-term (due within 3 months from purchase
date) highly liquid investments that are readily convertible to known amounts of cash and
which are subject to an insignificant risk of changes in value.
9. Foreign currency transactions and translation of foreign currency
statements
(1) Accounting method of foreign currency transactions
a) Initial recognition of foreign currency transactions
For foreign currency transactions incurred the Company converts the amount in
foreign currency into the amount in functional currency at the spot exchange rate
(middle rate) announced by the People’s Bank of China on the transaction date.
Among them for foreign currency exchange occurred or transaction involving
foreign currency exchange the Company converts at the exchange rate actually
adopted on the transaction date.
b) Adjustment or settlement on the balance sheet date or settlement date
On the balance sheet date or the settlement date the Company handles foreign
currency monetary items and foreign currency non-monetary items separately in
accordance with the following methods:
i. Accounting principles for handling foreign currency monetary items
For foreign currency monetary items on the balance sheet date or the
settlement date the Company converts them by using the spot exchange rate
(middle rate) prevailing on the balance sheet date or settlement date and
adjusts the amount in functional currency of foreign currency monetary items in
respect of the difference arising from exchange rate fluctuations which shall be
treated as exchange difference at the same time. Among them the exchange
differences arising from foreign currency loans relating to the acquisition
construction or production of assets eligible for capitalization shall be included
in the costs of assets eligible for capitalization; other exchange differences shall
be included in the current financial expenses.ii. Accounting principles for handling foreign currency non-monetary items
For foreign currency non-monetary items measured at historical cost the
Company shall convert them at the spot exchange rate (middle rate) prevailing
on the transaction date with their amounts in functional currency remaining
unchanged and no exchange differences incurred.
For an inventory that is measured at the lower of its costs or its net realizable
values if the net realizable value is determined in foreign currency the
Company when determining the value of the inventory at the end of the period
shall firstly convert the net realizable value into functional currency and then
compare it with the inventory cost reflected in functional currency.
Non-monetary items measured at fair value that is reflected in foreign currency
at the end of the period the Company shall firstly translate the foreign currency
into the amount in functional currency at the spot exchange rate on the date
when the fair value is determined and then compare it with the original
functional currency amount. Difference between the translated functional
currency amount and the original functional currency amount is treated as profit
or loss from changes in fair value (including changes in exchange rate) and is
recognized in current profit and loss.
(2) Accounting treatment method for translation of foreign currency statements
a) The Company shall translate the financial statements of foreign operations in
accordance with the following methods:
i. Assets and liabilities in the balance sheets shall be translated at the spot
exchange rates on balance sheet date. Shareholders’ equity items except for
the item of "undistributed profits" are translated at the spot exchange rates on
the dates when the transactions occur.ii. Revenue and expense items in the income statement are translated at the
spot exchange rates on the dates when the transactions occur or at the
exchange rate determined in a systematical and reasonable method and similar
to the spot exchange rate on the day when the transactions occur.
Differences arising from the above translations of foreign currency financial
statements are separately listed under ‘other comprehensive income’ in the
consolidated balance sheet.The translation of comparative financial statements is handled by reference to
the above approach.b) The Company shall translate the financial statements of foreign operations that
are in virulent inflation economy in accordance with the following methods:
i. The Company restates the items in the balance sheet by using the general
price index and restates the items in the income statement by using the
changes in general price index and then converts those items at the spot
exchange rate on the latest balance sheet date.ii. Where the foreign operations are no longer in virulent inflation economy the
Company ceases to restate the financial statements and converts the financial
statements restated according to the price level on such cease.c) Where the Company disposes of an overseas business it shall transfer the
foreign currency financial statements exchange difference which relates to the
business disposed of and is presented under the items of the other comprehensive
income in the balance sheet from the other comprehensive income item to the gain
or loss on disposal for the current period. If the overseas business is partly disposed
of the foreign currency financial statements exchange difference shall be calculated
in proportion to the percentage of disposal and transferred to gain or loss on
disposal for the current period.
10. Financial Instruments
Financial instruments are the financial asset financial liability or (equity) instrument
will be recognised when the Company became one of the parties under a contract.
(1) Classification of financial instruments
(a) Classification of financial assets
According to the company's business model of managing financial
assets and the characteristics of contract cash flow of financial assets
financial assets are classified into the following three categories:
financial assets measured at amortised cost; financial assets measured
at fair value through other comprehensive income (including financial
assets directly designated to be measured at fair value through other
comprehensive income); and financial assets measured at fair value
through the current profit or loss.(b) Classification of financial liabilities
The Company classifies the financial liabilities into the following two
categories: financial liabilities measured at fair value through current
profit and loss (including financial liabilities held for trading and financial
liabilities directly designated to be at fair value through current profit and
loss); and financial liabilities measured at amortized cost.
(2) Recognition basis and measurement method of financial instruments
(a) Recognition basis of financial instruments
When the Company becomes a party to a financial instrument it shall
recognize a financial asset or financial liability.(b) Measurement method of financial instruments
i.Financial assets
Financial assets are measured at fair value upon initial recognition. For
financial assets at fair value through profit or loss relevant transaction
costs are directly recognised in profit or loss for the period. For other
categories of financial assets relevant transaction costs are included in
the amount initially recognised. Accounts receivable or notes receivable
arising from sales of goods or rendering services and without significant
financing component or the company decided not to consider financing
elements for less than one year are initially recognised based on the
amount of consideration expected to be entitled to receive according to
Accounting Standard for Business Enterprises No. 14 - Revenue.
① Financial assets measured at amortised cost
These assets are subsequently measured at amortised cost using the
effective interest method after initial recognition. Gains/losses on
financial assets that are measured at amortised cost and are not a part of
any hedging relationship shall be recognised in profit or loss when the
financial asset is derecognised or reclassification or amortised using the
effective interest method or recognized the impairment allowance.
② Financial assets measured at fair value through other
comprehensive income
These assets are subsequently measured at fair value after initial
recognition. Except impairment foreign exchange gains and losses
interest income calculated using the effective interest method are
recognised in profit or loss; other gains and losses are recognised in
other comprehensive income. On derecognition gains and losses
accumulated in other comprehensive income are transferred to profit or
loss.In addition the company designated some non-tradable equity
instruments as financial assets measured at fair value through other
comprehensive income; the company shall recognise the relevant
dividend income of such financial assets into the current profit and loss
and recognise the change of fair value in other comprehensive income.On derecognition the accumulated gains/losses previously recognized in
other comprehensive income shall be transferred to retained earnings
and not be recognised in current profit and loss.
③ Financial assets measured at fair value through profit or loss
The Company classifies the financial assets except for financial assets
measured at amortized cost or at fair value through other comprehensive
income as mentioned above into the financial assets measured at fair
value through profit or loss for the current period. In addition the
company may designate some financial assets as financial assets
measured at fair value through profit or loss for the current period upon
the initial recognition to eliminate or significantly reduce accounting
mismatch. For such financial assets the company adopts the fair value
for subsequent measurement and changes in fair value are recognized
in the profit or loss for the current period.
ii.Financial liabilities
Financial liabilities shall be classified into financial liabilities measured at
fair value through profit or loss for the current period upon initial
recognition and other financial liabilities. For financial liabilities measured
at fair value through profit or loss relevant transaction costs are directly
recognized in the current profit and loss and the relevant transaction
costs of other financial liabilities are recognized in the initial recognition
amount.
① Financial liabilities measured at fair value through profit or loss
Financial liabilities held for trading (including derivatives of financial
liabilities) shall be subsequently measured at the fair value. Except for
those related to hedge accounting changes in the fair value shall be
recognized in the profit or loss of the current period. For financial
liabilities designated to be at fair value through profit or loss fair value
changes caused by the Company's own credit risk changes which is
recognised in other comprehensive income when the liability is
derecognition the accumulated change in its fair value caused by the
change in its own credit risk recognized in other comprehensive income
is transferred to retained earnings the remaining changes of fair value is
record in profit of loss. If the above treatment of the impact of the change
in the credit risk of such financial liabilities will cause or expand the
accounting mismatch in the profit and loss the company will record all
the gains/losses of such financial liabilities (including the amount affected
by fair value changes in enterprise's own credit risk) into the current profit
and loss.
② Financial liabilities measured at amortized cost
Except financial liabilities that arise when a transfer of a financial assets
does not qualify for derecognition or when the continuing involvement
approach applies security contract are classified as financial liabilities
measured by amortized cost or financial subsequently measurement at
amortized cost and record the profits or losses guarantee contracts
recognition or amortization into the current profit and loss.
(3) Financial assets transfer
If the Company transfers substantially all the risks and rewards of
ownership of the financial asset to the transferee the Company
derecognises the financial asset the rights and obligations arising or
retained in the transfer shall be separately recognized as its assets or
liabilities; if the Company retains substantially all the risks and rewards of
ownership of the financial asset it continues to recognise the transferred
financial assets. If the Company neither transfers nor retains substantially
all the risks and rewards of ownership of the financial asset it is
accounted for as follows: if the Company has not retained control it
derecognises the financial asset the rights and obligations arising or
retained in the transfer shall be separately recognized as its assets or
liabilities; and if the Company has retained control it continues to
recognize the financial asset to the extent of its continuing involvement in
the transferred financial asset and recognizes the relevant liability.Where transfer of financial assets qualify for derecognition entirety the
difference between the following two amounts will be included into
current profit or loss: The book value measured at the date of
derecognition; and The sum of the consideration for the derecognition
part and the portion of derecognition corresponding to the accumulated
amount of the changes in fair value originally and directly included in OCI
(involving the situation where the financial asset transferred is a debt
instrument investment measured at fair value and recognized in other
comprehensive income). The Company transferred the partial transfer of
financial assets which qualify for derecognition the overall carrying
amount of the transferred financial asset shall be apportioned according
to their respective relative fair value between the portion of derecognition
and the remaining.
(4) Derecognition of financial liabilities
If the current obligation of the financial liability (or part thereof) has been
discharged the company shall remove financial liability (or part thereof)
and the company shall recognize the difference between its book value
and the consideration paid (including any non-cash assets transferred or
liabilities assumed) in the current profit and loss.
(5) Offsetting of financial assets and liabilities
Financial assets and financial liabilities shall be shown separately in the
balance sheet and shall not be offset against each other. If the following
conditions are met at the same time the net value offset each other after
amount listed in the balance sheet:
The company has offset the confirmed amount of legal rights of financial
assets and financial liabilities and this kind of legal rights is the
executable; and
The company plans to net or cash at the same time when the financial
assets and liquidation of the financial liability.If the transfer of financial assets does not meet the conditions for
derecognition the transferor shall not offset the transferred financial
assets and related liabilities.
(6) Equity instruments
Equity instruments are contracts that prove ownership of the residual
interest in the company’s assets after deducting all liabilities. The
issuance (including refinancing) repurchase sale or cancellation of the
equity instruments of the company shall be treated as changes in the
equity. The company does not recognize changes in the fair value of
equity instruments and the transaction fees related to the equity
transactions shall be deducted from the equity. Where the equity
instrument of the company distributes dividends during the term of its
existence it shall be treated as profit distribution and the total amount of
shareholders' equity will not be affected by the stock dividends issued.
(7) Method for determining the fair value of financial assets and financial liabilities
Where there is an active market for a financial instrument the company
shall determine its fair value by quoting in the active market. Where there
is no active market for the financial instrument the company shall
determine its fair value by means of valuation technology. In valuation
the company uses valuation techniques applicable in the current situation
and supported by sufficient available data and other information to select
input values consistent with the characteristics of assets or liabilities
considered by market participants in transactions of related assets or
liabilities and gives priority to relevant observable input values as far as
possible. Use unobservable inputs only when relevant observable inputs
cannot be obtained or are impracticable to obtain.Upon initial recognition the fair value of financial assets or financial
liabilities is determined by the quoted price of the same assets or
liabilities in the active market or other valuation technology that only uses
observable market data the Company defers the difference between the
fair value and the transaction price. After initial recognition the Company
recognizes the deferred difference as gain or loss in the corresponding
accounting period according to the changes of a certain factor in the
corresponding accounting period.
(8) Impairment of Financial Assets
Based on the expected credit loss the Company shall recognise the
impairment loss on financial assets measured at amortized cost debt
instrument investment at fair value through other comprehensive income.(a) The approach of recognition loss allowance for expected credit losses
Considering the reasonable and valid information such as past events
current conditions and forecast of future economic conditions and
weighted by the risk of default the Company calculates the probability
weighted amount of the present value of the difference between the cash
flow receivable under the contract and the expected cash flow to be
received and confirms the expected credit loss.i. General approach
The Company assess whether the credit risk of financial instruments in
different stages at each reporting date has increased significantly. If the
financial instruments' credit risk have not increased significantly after
initial recognition it will be included in phase 1 and the Company
measures the loss allowance for those instruments at an amount equal to
12-month expected credit losses; if the financial instruments' credit risk
have increased significantly but without objective evidence for
impairment after initial recognition it will be included in phase 2 and the
Company measures the loss allowance of those instruments at an
amount equal to lifetime expected credit losses; if the financial asset that
is evidently credit-impaired after initial recognition it will be included in
phase 3 and the Company measures the loss allowance of those
financial instruments at an amount equal to lifetime expected credit
losses. For financial instruments with low credit risk on the balance sheet
date (e.g.fixed deposits in commercial banks with higher credit rating
financial instruments with external credit rating above "investment
grade") the Company assumes that the credit risk has not increased
significantly since the initial recognition and chooses to measure the loss
provision according to the expected credit loss in the next 12 months.ii. Simplified approach
For accounts receivables and notes receivables related to revenues the
Company does not include the significant financing component or does
not consider the financing components in contracts less than one year it
will measure the loss allowance according to the expected credit loss of
the whole duration.(b) Criteria for determining whether credit risk has increased significantly
subsequent to the initial recognition
If the probability of default of a financial asset in lifetime as determined
on the balance sheet date is significantly higher than the probability of
default in lifetime as determined at the initial recognition the credit risk of
the financial asset increases significantly.No matter what method the Company is applied to evaluate whether
credit risk has increased significantly it usually inferred that the credit
risk of the financial instrument has increased significantly if the contract
payment delay exceeds 30 days unless the Company can get the
reasonable and valid information at reasonable cost to evidence that the
credit risk of the financial instrument has not increased significantly since
the initial recognition.
Except in special cases the Company shall use the change of default
risk in the next 12 months as a reasonable estimate of the change of
default risk in lifetime to determine whether the credit risk has increased
significantly to the initial recognition
(c) Approach of assessing expected credit risk on a portfolio basis and
determine basis
The company evaluates credit risk individually for the credit risk of
significantly different notes receivables accounts receivables and other
receivables with the following characteristics. Such as: accounts
receivables in dispute with the other party or involving litigation or
arbitration; notes receivables accounts receivables that have shown
clear signs that the debtor is likely to be unable to meet repayment
obligations.When it is impossible to evaluate the expected credit loss information of
an individual financial asset at a reasonable cost the Company divides
the receivables into several portfolio according to the credit risk
characteristics and calculates the expected credit loss on collective
basis. The basis for determining the portfolio is as following:
Name Approach of assessing expected credit risk
Bank acceptance
bill Portfolio;
Commercial
acceptance bill
Portfolio
For notes receivables divided into portfolio the bank acceptance bill and
commercial acceptance bill refer to the historical credit loss experience and
combines the current situation and the forecast of future economic situation
respectively.The Company calculates the expected credit loss based on the
default risk exposure and the expected credit loss rate of the whole duration.
Risk Portfolio
For accounts receivables divided into risk portfolio the Company refers to the
historical credit loss experience and combines the current situation and the
forecast of future economic situation andprepares a comparison table between
overdue ages of accounts receivables and expected credit loss rate of the whole
duration to calculate the expected credit loss.Other Portfolio
The Company classifies items without significant recovery riskreceivables as
other portfolio such as items from subsidiaries in the consolidation scope tax
refunds receivable collection and withholding of funds. There is no provision for
bad debt for them.The Company shall take the provision or transfer the loss into the current profit and loss.
For the debt instrument investment measured at fair value through other comprehensive
income the Company shall adjust other comprehensive income while recording the
impairment loss or gain into the current profit and loss.
11. Inventory
(1) Classification of inventory
Inventories are classified as: raw materials semi-finished goods stock commodities
consigned processing materials goods in progress and revolving materials (including
low-cost consumables) etc.Measurement method of dispatched inventories
Dispatched materials and stock commodities are accounted for by using the weighted
average method.
(2) Basis to determine net realizable values of inventories and method of provision for
stock obsolescence
a) Determination basis of net realizable values of inventories
i. In normal operation process for merchandise inventories held directly for sale
including stock commodities (finished goods) and materials for sale their net
realizable values are determined at their estimated selling prices minus their
estimated selling expenses and relevant taxes and surcharges.ii. In normal operation process for material inventories that need further
processing their net realizable values are determined at the estimated selling
prices of finished goods minus estimated costs to completion estimated selling
expenses and relevant taxes and surcharges.iii. For inventories held to execute sales contract or service contract their net
realizable values are calculated on the basis of contract price. If the quantities
of inventories specified in the sales contracts are less than the quantities held
by the Company the net realizable value of the excess portion of inventories
shall be based on general selling prices.iv. The materials held for production shall be measured at cost if the net
realizable value of the finished products is higher than the cost. If a decline in
the value of materials shows that the net realizable value of the finished
products is lower than the cost the materials shall be measured at the net
realizable value.b) Provision for stock obsolescence
i.Provisions for stock obsolescence are made at the lower of costs or net realizable
values on a single basis.
ii.For inventories with large quantity and relatively low unit prices the provision for
stock obsolescence shall be made on the ground of the categories of inventories.
(3) Inventory system
The Company adopts perpetual inventory system and takes physical inventory counts on
a regular basis.
(4) Amortization method of revolving materials
A.Amortization method of low-cost consumables:
Low-cost consumables are amortized in full at once.
B.Amortization method of packaging materials
Packing materials are amortized in full at once when fetched for use by the Company.
12. Contract assets
A contract asset is a company's right to receive consideration for goods transferred to a
customer and this right depends on factors other than the passage of time.The
company's contract assets mainly include completed and unsettled assets and quality
guarantee deposit.The contract assets and contract liabilities under the same contract
shall be shown on a net basis and the contract assets and contract liabilities under
different contracts shall not be set off.
13. Assets held for sale
(1) Scope of a non-current assetheld for sale and a disposal group
A non-current asset or disposal group is classified as held for sale when a company
recovers its carrying value primarily through the sale (including the exchange of non-
monetary assets of a commercial nature) rather than through the continuous use of such
a group.
A disposal group is a group of assets that are disposed as a whole through sales or other
ways in one transaction and liabilities directly related to these assets delivered in the
transaction.
(2) Recognition criteria of a non-current assetheld for sale and a disposal group
The Company recognizes its component (or non-current asset) that satisfies the following
conditions as assets held for sale:
a)The assets or disposal group must be available for immediate sale in its present
condition subject only to terms that are usual and customary for sales of such assets
or disposal groups;
b) Its sale must be highly probable. The Company has already made a decision to
dispose the component and has a commitment from the purchaser the transfer will
be completed within one year. If it requires shareholders’ approval or supervisors’
approval according to regulations it has already received approval from the general
meeting of stockholders or relative authority institution.
(3) Accounting treatment andpresentation of a non-current asset heldforsale and a
disposal group
a) The non-current asset or disposal group is first classified as held for sale the
Company should measure the non-current assets or assets and liabilities made up
of disposal group in accordance with relevant accounting standards.b) When the Company measure a non-current asset or disposal group held for sale
initially or re-measure at balance sheet date subsequently the impairment loss
should be recognized if the book value is higher than fair valueless costs to sell at
the amount of the difference of these two in profit and loss the provision for assets
held for sale need to be recognized at the same time. For the impairment of disposal
group should write off goodwill if existing and then write down the related assets
proportionally. Depreciation or amortization should cease for the non-current asset
held for sale.c) No matter the asset is classified as individual asset held for sale or assetbelonging to disposal group the asset is presented as current assets under “assetsheld for sale” item; liabilities related to the asset transferred in the disposal group
held for sale is presented as current liabilities under “liabilities held for sale” item in
the balance sheet.d) The Company is committed to a sale plan involving loss of control of subsidiary
shall classify all the assets and liabilities of that subsidiary held for sale in
consolidated balance sheets when the above criteria are met regardless of whether
the Company retain a non–controlling interests in its former subsidiary after the sale.In the balance sheets of parent company the investment should be classified as held
for sale in full.In the consolidated financial statements all assets and liabilities of the
subsidiaries are classified as held for sale.
14. Long-term equity investment
(1) Recognition of the initial investment costs of long-term equity investments
a) For long-term equity investments from business combinations the initial
investment cost shall be recognized in accordance with the provisions mentioned in
Notes V.5. Accounting Method for Long-term Equity Investment from Business
Combinations under Common Control and Business Combination not under
Common Control.
b) Except for the long-term equity investments arising from business combinations
those obtained by other means shall recognize their initial investment costs in
accordance with the following provisions:
i.For the long-term equity investments obtained by cash paid the Company
recognizes the actual purchase price as the initial investment costs. The initial
investment costs include directly related expense taxes and other necessary
expenses of obtaining long-term equity investments.
ii.For the long-term equity investments acquired by the issue of equity securities
(equity instrument) the initial investment cost shall be the fair value of the
equity securities (equity instrument) issued. If the fair value of the long-term
equity investment obtained is more reliable than equity securities issued the
initial investment cost shall be the fair value of the long-term equity investment
made by the investors. The cost directly attributable to the issue of equity
securities (equity instrument) including fees commissions etc. write-downs
premium price of the issue if premium price of the issue is insufficient write-
downs surplus reserve and undistributed profit in turn. For the long-term equity
investments acquired by the issue of debt securities (debt instrument)
reference through the issuance of equity securities (equity instrument).iii. For long-term equity investments obtained by debt restructuring the
Company recognizes the fair value of shares of debt-for-equity swap as the
initial investment costs.
iv.For long-term equity investments obtained by non-monetary assets exchange
under the condition that an exchange of non-monetary assets is of commerce
nature and the fair value of assets exchanged can be reliably measured non-
monetary assets traded in is initially stated at the fair value of the assets traded
out unless there is conclusive evidence indicating that the fair value of the
assets traded in is more reliable; if the above conditions are not satisfied initial
investment costs of long-term equity investments traded in shall be recognized
at the book value of the assets traded out and the relevant taxes and
surcharges payable.
Expenses taxes and other necessary expenses incurred to the Company and
that are directly related to the obtainment of long-term equity investments shall
be recognized as the initial investment costs of long-term equity investments.
For long-term equity investments obtained by the Company by any means
cash dividends or profits declared but not yet distributed in the actual payments
or the consideration actually paid for the investment shall be separately
accounted as dividends receivable and shall not constitute the costs of long-
term equity investments.
(2) Subsequent measurement and recognition of gains and losses of long-term equity
investments
a) Long-term equity investment measured under cost method
If acompany can control an investee namely investment in subsidiary the long-term
equity investment shall be measured under the cost method.
For long-term equity investments accounted at the cost method except cash
dividends or profits declared but not yet distributed which are included in the actual
payments or the consideration actually paid for the investment the cash dividends
or profits declared by the investee shall be recognized as the investment income
irrespective of net profits realized by the investee before investment or after
investment.b) Long-term equity investments measured under the equity method
i. For the long-term equity investment which has joint control or significant
influence over the investee the equity method is adopted for accounting.
ii.For long-term equity investments measured at the equity method if the initial
investment costs are higher than the investor’s attributable share of the fair
value of the investee’s identifiable net assets no adjustment will be made to the
initial costs of the long-term equity investments; if the initial investment costs
are lower than the investor’s attributable share of the fair value of the investee’s
identifiable net assets the difference shall be recognized in current profit and
loss and at the same time the adjustment will be made to the initial costs of the
long-term equity investments.iii.After obtaining the long-term equity investments the Company shall
according to the shares of net profits and other comprehensive income realized
by the investee that shall be enjoyed or borne by the Company recognize the
profit and loss on the investments and adjust the book value of the long-term
equity investments. When recognizing the net profits and losses and other
comprehensive income of the investee that the Company shall enjoy or bear
the Company shall make a recognition and calculation based on the net book
profits and losses of the investee after appropriate adjustments. However
where the Company is unable to obtain the relevant information due to failure to
reasonably determine the fair value of the investee’s identifiable assets minor
difference between the investee’s identifiable assets and the book value thereof
or other reasons the profits or losses on the investments shall be directly
calculated and recognized based on the net book profits and losses of the
investee. The Company shall calculate the part distributed from cash dividends
or profits declared by the investee and correspondingly reduce the book value
of the long-term equity investments.When recognizing the income from investments in associates and joint ventures
the Company shall write off the part of incomes from internal unrealized
transactions between the Company and associates and joint ventures which are
attributable to the Company and recognize the profit and loss on investments
on such basis. Where the losses on internal transactions between the Company
and the investee fall into the scope of losses on assets impairment full amounts
of such losses shall be recognized. Profit and loss from internal unrealized
transactions between the Company’s subsidiaries included into the combination
scope and associates and joint ventures shall be written off according to the
above principles and the profit and loss on investments thereafter shall be
recognized on such basis.When the share of net loss of the investee attributable to the Company is
recognized it is treated in the following sequence: Firstly write off the book
value of the long-term equity investments; where the book value of the long-
term equity investments is insufficient to cover the loss investment losses are
recognized to the extent that book value of long-term equity which form net
investment in the investee in other substances and the book value of long-term
receivables shall be written off; after all the above treatments if the Company
still assumes additional obligation according to investment contracts or
agreements the obligation expected to be assumed should be recognized as
provision and included into the investment loss in the current period. If the
investee is profitable in subsequent accounting periods the Company shall
treat the loss in reverse order against that described above after deducting
unrecognized share of loss: i.e. write down the book value of the recognized
provision then restore the book value of long-term interests which substantially
form net investments in the investee then restore the book value of long-term
investments and recognize investment income at the same time.
(3) Basis for judgment of common control or significant influence over the investee
a)Basis for judgment of common control over investee
Common control is the contractually agreed sharing of control of an arrangement
which exists only when decisions about the relevant activities require the unanimous
consent of the parties sharing control. Relevant activities of an arrangement usually
include selling and purchasing of goods or services managing financial assets
acquiring or disposing of assets researching and developing activities and financing
activities. A joint venture is a joint arrangement whereby the joint ventures have
rights to the net assets of the arrangement. The parties have rights to the assets
and obligations for the liabilities relating to the arrangement which is a joint
operation but not a joint venture.
c) Basis for judgment of significant influence over investee
The term “significant influence” refers to the power to participate in decision-making
on the financial and operating policies of the investee but with no control or joint
control over the formulation of these policies. Where the Company is able to exert
significant influence over the investee the investee is its associate.
15. Fixed assets
(1) Recognition of fixed assets
Fixed assets refer to tangible assets held for the purpose of producing commodities
providing services renting or business management with useful life exceeding one
accounting year. Fixed assets are recognized when the following criteria are satisfied
simultaneously:
a) It is probable that the economic benefits relating to the fixed assets will flow into
the Company;
b) The cost of the fixed assets can be measured reliably.
(2) Depreciation of fixed assets
Category Depreciation method
Estimated
useful life
(Yr)
Estimated
residual value
rate (%)
Annual depreciation
rate (%)
Buildings
andconstructions
Straight-line method 20~25 5 3.80~4.75
Machinery equipments Straight-line method 10 5 9.50
Transportation
equipments
Straight-line method 10 5 9.50
Other equipments Straight-line method 8 5 11.88
(3) Recognition standard valuation method and depreciation method for fixed assets
acquired under financing lease
a) At the inception of the lease the Company recognizes the leased fixed assets
meeting the standards for financial leases as fixed assets acquired under financing
leases
b) At the inception of the lease the Company shall state the assets acquired under
financing lease at the lower of the fair value of the leased assets or the present
value of the minimum lease payments as well as the initial and direct expenses
occurred recognize a long-term payable at the amount of the minimum lease
payments and shall charge the difference of the lower of the fair value of the leased
assets or the present value of the minimum lease payments and the minimum lease
payments to unrecognized finance expenses. Unrecognized finance expenses shall
be amortized at the effective interest rate method in each period during the lease
term.
c) Adapt the same depreciation method as the one used on other fixed assets
owned by the company. If there is reasonable assurance that the Company will
obtain the ownership of the leased assets when the lease term expires the leased
assets should be depreciated over its useful life; if there is no reasonable assurance
that the Company will obtain the ownership of the leased assets when the lease
term expires the leased assets should be depreciated over the shorter of the lease
term or the useful life of the leased assets.
16. Construction in progress
(1) Categories of constructions in progress
Constructions in progress are accounted on individual project basis.
(2) Criteria and commencement of conversion of constructions in progress into fixed
assets
The book entry values of the fixed assets are stated at total expenditures incurred before
construction in progress reaches the working condition for their intended use. For self-
operating projects total expenditures are measured according to the expenditures of
direct materials direct labor direct measurement mechanical construction costs and
other expenditures; for contracting projects total expenditures are measured according
to project costs payable and other expenditures. Borrowing costs incurred before the
projects that are undertaking with borrowing costs reach working condition for their
intended use and meeting the condition for capitalization shall be capitalized and
included into the costs of construction in progress.
For construction in progress that has reached working condition for intended use but for
which the completion of settlement has not been handled it shall be transferred into fixed
assets at the estimated value according to the project budget construction price or actual
cost etc. from the date when it reaches the working condition for intended use and the
fixed assets shall be depreciated in accordance with the Company’s policy on fixed asset
depreciation; adjustment shall be made to the estimated value based on the actual cost
after the completion of settlement is handled but depreciation already provided will not
be adjusted.
17. Borrowing costs
(1) Scope of borrowing costs
The Company’s borrowing costs include interest thereon amortization of discounts or
premiums ancillary expenses and exchange differences incurred from foreign currency
loan etc.
(2) Recognition principles of capitalization of borrowing costs
The borrowing costs incurred to the Company and directly attributable to the acquisition
and construction or production of assets eligible for capitalization should be capitalized
and recorded into relevant asset costs; other borrowing costs should be recognized as
costs according to the amount incurred and be included into the current profit and loss.
Assets eligible for capitalization include fixed assets investment properties inventories
and other assets which may reach the working condition for their intended use or sale by
acquisition and construction or production activities for quite long time.
(3) Recognition of capitalization period of borrowing costs
a) Recognition of commencement of capitalization of borrowing costs
Borrowing costs may be capitalized when asset disbursements have already been
incurred borrowing costs have already been incurred and the acquisition and
construction or production activities which are necessary to prepare the assets for
their intended use or sale have already been started. Among which asset
disbursements include those incurred by cash payment the transfer of non-cash
assets or the undertaking of interest-bearing debts for acquiring and constructing or
producing assets eligible for capitalization.b) Recognition of period of capitalization suspension of borrowing costs
If the acquisition and construction or production activities of assets eligible for
capitalization are interrupted abnormally and this condition lasts for more than three
months the capitalization of borrowing costs should be suspended. The borrowing
costs incurred during interruption are charged to profit or loss for the current period
and the capitalization of borrowing costs continues when the acquisition and
construction or production activities of the asset resume. If the interruption is
necessary for the acquisition and construction or production to prepare the assets
for their intended use or sale the capitalization of borrowing costs should continue.c) Recognition of period of capitalization cessation of borrowing costs
Capitalization of borrowing costs should cease when the acquired and constructed
or produced assets eligible for capitalization have reached the working condition for
their intended use or sale. Borrowing costs incurred after the assets eligible for
capitalization have reached the working condition for their intended use or sale
should be recognized as the current profit and loss when they incur.If all parts of the acquired and constructed or produced assets are completed each
part may be used or sold externally in the process of continuous construction of
other parts and the necessary acquisition or production activities have been
substantially completed to make the part of assets reach the working condition for
their intended use or sale the capitalization of borrowing costs related to the part of
assets should be ceased; if all parts of the acquired and constructed or produced
assets are completed but the assets cannot be used or sold externally until overall
completion the capitalization of borrowing costs should cease at the time of overall
completion of the said assets.
(4) Recognition of capitalized amounts of borrowing costs
a) Recognition of capitalized amounts of interest on borrowing costs
During the period of capitalization capitalized amount of the interest of each
accounting period (including amortization of discounts or premiums) shall be
recognized according to the following provisions:
i.As for special loan borrowed for acquiring and constructing or producing
assets eligible for capitalization borrowing costs of special loan actually
incurred in the current period less the interest income of the loans unused and
deposited in bank or return on temporary investment should be recognized as
the capitalization amount of borrowing costs.
ii.As for general loans used for acquiring and constructing or producing assets
eligible for capitalization the interest of general loans to be capitalized should
be calculated by multiplying the weighted average of asset disbursements of
the part of accumulated asset disbursements in excess of special loans by the
capitalization rate of used general loans. The capitalization rate is calculated by
weighted average interest rate of general loans.iii. Where there are discounts or premiums on loans the amounts of interest for
each accounting period should be adjusted taking account of amortizable
discount or premium amounts for the period by effective interest method.
iv.During the period of capitalization the capitalized amount of interest of each
accounting period shall not exceed the current actual interest of the relevant
loans.
b) Recognition of capitalized amounts of auxiliary expenses of loans
i.Auxiliary expenses incurred from special loans before the acquired or
constructed assets eligible for capitalization reach the working condition for their
intended use or sale should be capitalized when they incur and charged to the
costs of assets eligible for capitalization; those incurred after the acquired or
constructed assets eligible for capitalization reach the working condition for their
intended use or sale should be recognized as costs according to the amounts
incurred when they incur and charged to the current profit or loss.ii. Auxiliary expenses incurred from general loans shall be recognized as costs
according to the amounts incurred when they occur and included in the current
profit and loss.c) Recognition of capitalized amount of exchange differences
During the period of capitalization exchange differences incurred from the principal
and interest of special foreign currency loans should be capitalized and included in
the costs of the assets eligible for capitalization.
18. Intangible assets
(1) Measurement useful life and impairment test
Initial measurement of intangible assets
Initial measurement of outsourcing intangible assets
Costs of outsourcing intangible assets shall be recognized according to the purchase
price related taxes and other expenses directly attributed to reaching the working
condition for their intended use. The cost of intangible assets shall be recognized based
on present value of purchase price when deferred payment over normal credit conditions
with financial nature. The difference between actual payment and purchase price expect
for capitalized amount shall be included into the current profit and loss in the period of
credit.Initial measurement of internally researched and developed intangible assets
Costs of internally researched and developed intangible assets shall be recognized
according to the total expenses during the period after the assets are eligible for
capitalization and before they reach the intended purpose and the expenses that have
been included in the previous periods shall no longer be adjusted.
Expenses on the research phase of internally researched and developed intangible
assets shall be included in the current profit and loss when they incur; those on the
development phase ineligible for capitalization shall be included in the current profit and
loss; those eligible for capitalization shall be recognized as intangible assets. If it is
unable to distinguish expenditure on the research phase and expenditure on
development phase the research and development expenditures shall be all included in
the current profit and loss.Subsequent measurement of intangible assets
The useful lives of intangible assets are analyzed on acquisition. Intangible assets
obtained by the Company are divided into intangible assets with limited useful lives and
intangible assets with indefinite useful lives.Subsequent measurement of intangible assets with limited useful lives
The intangible assets with limited useful lives are amortized on a straight-line basis when
they reach intended use over their useful lives with no residual value reserved.
Amortizations of intangible assets are usually recorded into the current profit and loss;
where the economic benefits of an intangible asset are realized by the products or other
assets produced thereafter the amortizations are recorded into the costs of the relevant
assets.
Category estimated useful life estimated net residual value rate and annual amortization
rate of intangible assets are shown below:
Category of intangible
assets
Estimated useful life (years)
Estimated net residual
value rate (%)
Annual amortization
rate (%)
Land use right 50 0 2.00
Trademark 7-10 0 14.29-10.00
Computer software 10 0 10.00
The useful lives and amortization methods of intangible assets with limited useful lives on
the balance sheet date shall be reviewed.Subsequent measurement of intangible assets with indefinite useful lives
Intangible assets with indefinite useful lives are not amortized in the holding period but
impairment tests are performed at the end of each year.
Estimates of useful lives of intangible assets
a) For intangible assets from any contractual right or other statutory rights their
useful lives shall be recognized according to the period no more than that of the
contractual or other statutory rights; when the contractual right or other statutory
rights contract is extended due to renewal of contracts and there is evidence that the
renewal of the Company does not need large costs the renewal period shall be
included into the useful lives.
b) Where the contract or the law fails to specify the useful lives the Company
integrates situations in all aspects and determine the period of intangible assets that
can bring economic benefits for the Company by hiring the relevant experts to
demonstrate or comparing with the situation of the industry as well as referring to the
Company’s historical experience or otherwise.
c) If it is still unable to reasonably determine that intangible assets may bring
economic benefits for the Company according to the above methods the intangible
assets are taken as intangible assets with indefinite useful lives.
(2) Accounting policies of internal research and development expenditure
According to the actual situation of the research and development the Company
classifies the research and development project into that on the research phase and that
on the development phase.a) Research stage
Research stage is the stage when creative and planned investigations and research
activities are conducted to acquire and understand new scientific or technological
knowledge.
b) Development stage
Development stage is the stage when the research achievements or other
knowledge are applied to a plan or design prior to the commercial production or use
so as to produce any new or substantially improved material device or product.
Expenditure of an internal research and development project on the research phase
shall be included in current profit and loss when it occurs.Specific criteria for qualifying expenditure on the development phase for
capitalization
Expenditure on the development phase of an internal research and development
project shall be recognized as intangible assets only when the following conditions
are simultaneously satisfied:
a) It is technically feasible to finish intangible assets for use or sale;
b) It is intended to finish and use or sell the intangible assets;
c)The usefulness of intangible assets to generate economic benefits shall be proved
including being able to prove that there is a potential market for the products
manufactured by applying the intangible assets or there is a potential market for the
intangible assets themselves or the intangible assets will be used internally;
d) It is able to finish the development of the intangible assets and able to use or sell
the intangible assets with the support of sufficient technologies financial resources
and other resources;
e) The expenditure attributable to the intangible asset during its development phase
can be measured reliably.
19.Non-current assets impairment
If there are impairment indicators of long-term equity investment investment property
measured at cost model fixed assets construction in progress intangible assets with
indefinite useful lives and other long-term assets at balance sheet date impairment test
should be performed. If the result of impairment test shows that recoverable amount is
less than its book value the difference should be provided for impairment and recorded
into impairment loss. The recoverable amount is the higher of fair values less costs of
disposal and the present values of the future cash flows expected to be derived from the
asset. Provision for impairment is calculated and recognized on the basis of individual
asset. If recoverable amount of individual asset is difficult to be estimated the Company
should recognize the recoverable amount of the asset group which the individual asset
belongs to. Asset group is the minimum asset group which can generate cash inflow
separately.The Company should perform impairment test for goodwill and intangible assets with
indefinite life at least at each year end no matter whether there is impairment indicator.When the Company performs impairment test book value of goodwill arising from
business combination should be amortized to relevant asset group using the reasonable
method from the date of purchase. If it is difficult to amortize it to relevant asset group
amortize it to relevant asset group portfolio. Apportion book value of goodwill to relevant
asset group or asset group portfolio according to the proportion of fair value of asset
group or asset group portfolio accounting for total amount of relevant asset group or
asset group portfolio. If fair value is difficult to be measured reliably amortize according
to the proportion of book value of asset group or asset group portfolio accounting for total
amount of relevant asset group or asset group portfolio. When perform impairment test
for asset group or asset group portfolio including goodwill if there is impairment indicator
of asset group or asset group portfolio relevant to goodwill perform impairment test for
asset group or asset group portfolio without goodwill firstly calculate its recoverable
amount compare with relevant book value and recognize impairment loss. Then perform
impairment test for asset group or asset group portfolio including goodwill compare book
value of the asset group or asset group portfolio (including proportional book value of
goodwill) and its recoverable amount if recoverable amount of relevant asset group or
asset group portfolio is less than its book value recognize impairment loss of goodwill.Once impairment loss stated above is recognized reversal is not allowed in the
subsequent accounting periods.
20. Long-term deferred expenses
(1) Scope of long-term deferred expenses
Long-term deferred expenses refer to various expenses which have been already
incurred but will be born in this period and in the future with an amortization period of
over 1 year (exclusive).
(2) Initial measurement of long-term deferred expenses
Long-term deferred expenses shall be initially measured according to the actual costs
incurred.
(3) Amortization of long-term deferred expenses
Long-term deferred expenses are amortized using the straight-line method over the
beneficial period.
21. Contract liability
Contract liabilities refer to the obligation of a company to transfer commodities to
customers for consideration received or receivable from customers.If the customer has
paid the contract consideration or the company has obtained an unconditional right to
receive the goods prior to the company's transfer of the goods to the customer the
company will show the amount received or receivable as a contractual liability in which
earlier the customer actually pays the amount or the amount becomes due.The contract
assets and contract liabilities under the same contract shall be shown on a net basis and
the contract assets and contract liabilities under different contracts shall not be set off.
22. Employee benefits
(1) Accounting treatment of short-term benefits
Short-term benefits are the benefits that the Company expect to pay in full within 12
months after the reporting period in which the employee provided relevant services
excluding the compensation for employment termination.Short-term benefits include: wage bonus allowance and subsidy; employee welfare
social securities including health insurance and work injury insurance; housing common
reserve fund; union expenditure and employee training expenditure; short-term paid
leave; short-term profit-sharing; non-monetary welfare and other short-term benefits.
Actual short term benefits will be recognized as liability during the accounting period in
which the employee is providing the relevant service to the Company. The liability will be
included in the current profits and losses or the cost relevant assets.
(2) Accounting treatment of post-employment benefits
The defined contribution plan of the Company include payments of basic pension
unemployment insurance annuity etc. that accord to relevant provisions. The amount
which the Company deposit on balance sheet date in exchange for the service of the
employee during the accounting period will be recognized as employee benefits liability
and shall be included into the profit or loss for the current period.
(3) Accounting treatment of termination benefits
Termination benefits are the benefits the Company provide to the employee when the
Company terminates the employment before labor contract expires or encourages
voluntary resignation. Employee benefits liabilities shall be recognized and included into
profit or loss for the current period on the earlier date of the two following circumstances:
A.When the Company is not able to withdraw the benefits from termination of
employment or resignation persuasion unilaterally;
B.When the Company recognizes costs and fees relevant to reforming the termination
benefits payment.
(4) Accounting treatment of other long-term employee benefits
Other long-term employee benefits are all employee benefits other than short-term
benefits post-employment benefits and termination benefits. At the end of reporting
period the company will recognize the employee benefits cost from other long-term
employee benefits as the following components:
a) Service cost;
b) Net amount of interest from other long-term employee benefits net liabilities or
assets;
c) Changes from recalculation of the net liabilities or assets from other long-term
employee benefits.In order to simplify related accounting procedure the net amount of the above subjects
shall be included into current profit or loss or the cost of relevant assets.
23. Provisions
(1) Recognition principles of provision
When obligations related to external guarantees pending actions or arbitration product
quality assurance onerous contracts reorganization and contingencies satisfy the
following three conditions they shall be recognized as provision:
a) This obligation is a present obligation of the Company;
b) The settlement of such obligation is likely to result in outflow of economic benefits
from the Company; and
c) The amount of the obligation can be measured reliably.
(2) Measurement method of provision
The amount of provision is measured at the best estimate of expenses required for
contingencies.a) If there is continuous range for the necessary expenses and probabilities of
occurrence of all the outcomes within this range are equal the best estimate shall
be determined at the median of the range.b) The best estimate shall be accounted as follows in other cases:
i.If the contingency involves a single item the best estimate shall be determined at
the most likely outcome.ii.If the contingency involves two or more items the best estimate should be
determined according to all the possible outcomes with their relevant probabilities.
24. Share-based payment
Share-based payment is classified as equity-settled share-based payment and cash-
settled share-based payment.
1) Accounting treatment on the date of granting
The Company does not make any accounting treatment on the date of granting neither
for equity-settled share-based payment nor for cash-settled share-based payment
except that the right of the share-based payment can be exercised immediately.
2) Accounting treatment on each balance sheet date within vesting period
On each balance sheet date within vesting period the Company records the service
provided by employees or other party as cost and expense and recognizes equity or
liability at the same time.
For the share-based payment attached with market conditions once employees satisfy
all conditions except market conditions the service acquired can be recognized. If the
performance condition is not market condition the estimate for previous periods can be
revised when the vesting period is determined and subsequent information shows that
the estimate for conditions of exercising rights requires adjustments.
For equity-settled share-based payment related with employees charge the service into
costs expenses and capital reserve (other capital reserve) using the fair value of the
equity instrument on the date of granting. The subsequent changes of fair value should
not be recognized. For cash-settled share-based payment related with employees
recalculate fair value of the equity instrument at each balance sheet date and recognize
related costs expenses and employee benefit payable.
At each balance sheet date within vesting period the Company makes the best estimate
and revises the number of equity instrument that can be exercised according to the latest
subsequent information such as change of number of employees who can exercise rights.Use fair value and the number of of equity instrument stated above to calculate
cumulative amount of costs and expenses that should be recognized by this period and
then deduct the cumulative amount already recognized in the previous period. The
balance is the amount of cost and expense that should be recognized in the current
period.
3) Accounting treatment after the date when rights can be exercised
For equity-settled share-based payment after the date when rights can beexercised no
adjustment shall be made to the total amount of the cost expense and equity already
recognized. The Company recognizes share capital and capital premium and carry
forward the capital reserve (other capital reserve) recognized within vesting period at the
he date when rights can be exercised.
For cash-settled share-based payment the Company shall not recognize costs and
expenses. The change of fair value of liability (employee benefit payable) should be
recorded into current profit or loss (profit or loss arising from fair value changes) after the
date when rights can be exercised.
4) Accounting treatment for repurchasing shares regarding employee option incentive.
When the Company encourages employees in the form of repurchasing shares total
expenditure of repurchasing shares is regarded as treasury stock and registered for
check. At each balance sheet date within vesting period charge the employee service
acquired into costs and expenses and meanwhile increase capital reserve (other capital
reserve) using fair value of the equity instrument at the date of granting. When the
employee exercises the right to buy the Company’s shares and receives the amount
write off the cost of treasury stock delivered to the employee and the cumulative amount
of capital reserve (other capital reserve) recognized within the vesting period meanwhile
the balance adjusting capital reserve (share capital premium).
25.Revenue
Accounting policies adopted in revenue recognition and measurement
25.1 Principle and measurement method of revenue recognition
(1) Revenue recognition
The Company has fulfilled its contractual performance obligation to recognize revenue
when the customer acquires control of the relevant goods. On the beginning date of the
contract the Company evaluates the contract identifies the individual performance
obligations contained in the contract and determines whether the individual performance
obligations are performed within a certain period of time or at a certain point. Then the
Company recognizes the revenue when the individual performance obligations are
fulfilled.
(2) Revenue measurement
If the contract contains two or more performance obligations the Company shall on the
commencement date of the contract apportion the transaction price to each single
performance obligation according to the relative proportion of the separate selling price of
the commodity or service committed by each single performance obligation and measure
the revenue according to the transaction price apportioned to each single performance
obligation.In determining the transaction price the Company will take into account the
impact of variable consideration material financing elements existing in the contract
non-cash consideration and customer consideration payable and it is assumed that the
goods will be transferred to the customer in accordance with the provisions of the existing
contract and that the contract will not be canceled renewed or changed.
25.2 Specific revenue recognition policies
(1) Sales contract
The Company's sales products promotional products and other goods belong to the
performance obligations performed at a certain point.The Company recognizes the sales revenue when the goods are delivered to the
customer and the control of the goods is transferred. For export sales business the
Company recognizes the revenue after the goods are delivered and the customs
clearance procedures are completed.
According to the marketing policy and the dealer sales of final product the Company
gives the dealer a percentage discount and regularly or irregularly settles with dealers.
At the time of settlement the discounts are recorded in a sales invoice issued. The net
amount of invoice value after the deduction of the discount sales income is recognized as
revenue according to the accrual principle. The discounts that have occurred and have
not yet been settled at the end of the current period shall be taken provision from the
sales revenue and recorded into the contract liabilities.
(2) Service Contract
The service contract provided by the Company contains the performance obligation of
the lease service provided. Since the customer obtains and consumes the economic
benefits brought by the performance of the contract at the same time it is regarded as
the performance obligation performed within a certain period of time and is equally
apportioned and confirmed during the service provision.
23. Government grants
(1) Types of government grants
Government grants are monetary assets and non-monetary assets acquired free of
charge by the Company from the government including government grants related
to assets and government grants related to income.Government grants related to assets are government grants that are acquired by the
Company and used for forming long-term assets through purchasing and
constructing or other ways.Government grants related to income are government grants other than government
grants related to assets.
(2) Recognition principles of government grants
Government grants are recognized when both of the following conditions are met:
a) The Company can meet the attached conditions for the government grants;
b) The Company can receive the grants.
(3) Measurement of government grants
a) If a government grant is a monetary asset it shall be measured in the light of
the received or receivable amount.b) If a government grant is a non-monetary asset it shall be measured at its fair
value; and if its fair value cannot be obtained in a reliable way it shall be
measured at a nominal amount (a nominal amount is CNY 1).
(4) Accounting treatment method of government grants
a) The government grants related to assets shall be set off of the book value of
the related assets or recognized as deferred income at the actual entry amount
on acquisition. Government grants recognized as deferred income shall be
allocated evenly over the useful lives of the relevant assets and included in the
current profit or loss. Government grants measured at the nominal amount shall
be directly included in current profit and loss.b) Government grants related to income shall be separately handled according
to the following circumstances:
i.If government grants related to income are used to compensate the
Company’s relevant expenses or losses in future periods such
government grants should be recognized as deferred income on
acquisition and be included into the current profit and loss or written off
of the related costs when the relevant expenses losses are recognized.ii.If government grants related to income are used to compensate the
Company’s relevant expenses or losses incurred such government
grants are directly included into the current profit and loss on acquisition
or written off of the related costs.b) Government grants related to assets and related to income are received
together shall be treated separately. If it is hard to separate government grants
shall be treated as related to income as a whole.c) Government grants related to daily operation shall be recoded in other
income or written off relevant expenses costs. Government grants unrelated to
daily operation shall be recorded in non-operating income. Financial subsidy
funds directly allocated to the company shall be offset the relevant borrowing
costs.d) Government grants already recognized required to be refunded shall be
handled according to the following circumstances:
i. If the grants have written down the book value of assets the book value
shall be adjusted.ii. If there is related deferred income the book value of relevant deferred
income is written down and the exceeding part is recorded in the current
profit and loss.iii. If there is no related deferred income the exceeding part is directly
included in the current profit and loss.
24. Deferred tax assets and deferred tax liabilities
The Company adopts the balance sheet liability method to account for income tax.
(1) Recognition of deferred tax assets or deferred tax liabilities
a) The Company recognizes its tax base on acquisition of assets and liabilities. On
the balance sheet date the Company analyzes and compares the book value of the
assets and liabilities and the tax base. If there are temporary differences in book
value of the assets and liabilities and the tax base under the circumstance that the
temporary differences incur in the current period and meet the recognition criteria
the Company shall respectively recognize taxable temporary differences or
deductible temporary differences as deferred tax liability or deferred tax assets.b) Recognition basis of deferred tax assets
i. Deferred tax assets incurred from deductible temporary differences are
recognized to the extent that they shall not exceed the taxable income probably
obtained in future periods to be against the deductible temporary difference. In
determining the taxable income probably obtained in future periods including
the taxable income from normal production and operation activities in future
periods and the increase of taxable income due to the reversal of taxable
temporary differences during the period of reversal of deductible temporary
differences.
ii.For deductible losses and tax credits that can be carried forward to the next
years the Company is likely to recognize the corresponding deferred tax assets
to the extent that the assets shall not exceed the taxable income in the future
for deducting deductible losses and tax credits and that are probably obtained
by the Company.iii. On the balance sheet date the Company reviews the book value of deferred
tax assets. If it is probably unable to obtain sufficient taxable income in the
future period to offset the benefits of the deferred tax assets the Company shall
write down the book value of the deferred tax assets; when it is probable to
obtain sufficient taxable income the write-downs shall be reversed.c) Recognition basis of deferred tax liabilities
The Company recognizes the current and previous taxable temporary differences
payable but unpaid as deferred tax liabilities. But they exclude temporary differences
arising from goodwill; transactions which are formed other than from business
combinations and neither affect the accounting profits nor affect taxable income at
the time of occurrence.
(2) Measurement of deferred tax assets or deferred tax liabilities
a) On the balance sheet date the deferred tax assets and deferred tax liabilities are
measured at the applicable tax rate during the period of expected recovery of the
assets or liquidation of the liabilities in accordance with the provisions of the tax law.b) Where the applicable tax rate changes the Company remeasures deferred tax
assets and deferred tax liabilities recognized except for those incurred in
transactions or events directly recognized in the owner’s equity of which the effect
shall be included in the income tax expenses in the current period when the rate
changes.c) When the Company measures the deferred tax assets and deferred tax liabilities
the tax rate and tax base in consistent with the expected recovery of assets or
liquidation of liabilities shall be adopted.
d) Deferred tax assets and deferred tax liabilities of the Company shall not be
discounted.
25. Lease
(1) Accounting treatment method of operating lease
Lessee records rents of operating lease into cost of related assets or current profit or loss
using straight line method in each period of the lease term. Initial direct expenses
incurred are recorded into current profit or loss. Contingent rents are recorded into
current profit or loss when occur.Lessor includes assets used for operating lease in the related items of financial
statements. Rent of operating lease is recognized into current profit or loss using straight
line method in the various period of the lease term. Initial direct expenses are recorded
into current profit or loss. Depreciate fixed asset in the operating lease using depreciation
policy of the similar assets. Amortize other operating lease assets using systematic
reasonable method. Contingent rent is recorded into current profit or loss when occur.
(2) Accounting treatment method of financing lease
As the lessee recognize the lower of fair value of lease asset and minimum lease
payment at the beginning day of the lease as the initial value of the asset leased in and
the minimum lease payment as long-term payable the difference as unrealized finance
expense. Bank charges lawyer fee travel allowances stamp taxes and other initial direct
expenses that can be attributable to lease project in the lease negotiation and signing the
lease contract are recorded into the asset leased in. Unrealized finance expense is
amortized in the period during the lease term and recognized as current finance
expenses using actual effective rate method. Contingent rent is recorded into current
profit or loss when actually occur.
As the lessor recognize the total of minimum lease amount received and initial direct
expenses as the initial value of finance lease amount receivable and record the residual
amount not guaranteed at the same time. Recognize the difference between the total of
minimum lease amount received initial direct expenses and residual amount not
guaranteed and present value of that as unrealized finance income. Amortize unrealized
finance income in the period during the lease term and use effective interest rate to
recognize current finance income. Contingent rent is recorded into current profit or loss
when actually occur.
26. Changes in significant accounting policies and accounting estimates
(1) Changes in significant accounting policies
√ Applicable ? N/A
Content and reason of changes in
accounting policies
Procedure for examination
and approval
Notes
The Company shall from 1
January2020 implement the new
revenue standards according to
Notificationof Accounting Standard for
Business Enterprises No.14 -
Revenue(Caikuai [2018] No.22) revised
and published by Ministry of Finance in
July 2017.
N/A
According to the requirements
of the new revenue standards
the comparative financial
statements shall not be
retroactively adjusted.The first implementation of new revenue standards will be adjusted to implement the items related to
financial statements at the beginning of the year
Consolidate Balance Sheet Items
Unit:CNY
Assets Balance as at 31
December 2019
Balance as at 1
January 2020
Adjustment
Advance from customer
6753595187.64 -6753595187.64
Contract liabilities
8625433531.59 8625433531.59
Other payables 6521146762.07 3962515639.56 -2558631122.51
Other current liabilities 686792778.56 686792778.56
Balance Sheet of Parent Company
Unit:CNY
Advance from customer
16238064053.40 -16238064053.40
Contract liabilities
14372628991.77 14372628991.77
Other current liabilities 1865435061.63 1865435061.63
(2) Changes in significant accounting estimates
? Applicable √ N/A
(3)Since 2020 the first implementation of new revenue standards or new leasing
standards will be adjusted to implement the items related to financial statements at
the beginning of the year
Applicable
Whether it is needed to adjust the balance sheet accounts at the beginning of the year
√ Yes? No
Consolidated Balance Sheet
Unit: CNY
Assets Balance as at 31
December 2019
Balance as at 1
January 2020
Adjustment
Current assets:
Cash and cash
equivalents
4300144848.67 4300144848.67
Settlement reserves
Lending funds
Financial assets held for
trading
17976767209.45 17976767209.45
Derivative financial assets
Notes receivables 659266780.81 659266780.81
Accounts receivables 16080618.65 16080618.65
Account receivables
financing
Prepayment 200115325.19 200115325.19
Premiums receivable
Reinsurance accounts
receivable
Reinsurance contract
reserve
Other receivables 37521590.52 37521590.52
Including:Interests
receivable
Dividends receivable
Buying back the sale of
financial assets
Inventories 14433244696.27 14433244696.27
Contract assets
Assets held for sale
Non-current assets due
within one year
Other current assets 183119654.47 183119654.47
Total current assets 37806260724.03 37806260724.03
Non-current assets:
Disbursement of loans and
advances
Investment in debt
instruments
Investment in other debt
instruments
Long-term receivables
Long-term equity
investments
25361651.38 25361651.38
Investment in other equity
instruments
Other non-current financial
assets
5050851671.16 5050851671.16
Investment property
Fixed assets 7256557503.85 7256557503.85
Construction in progress 263153505.12 263153505.12
Productive biological
assets
Oil and gas assets
Right-of-use asset
Intangible assets 1747134144.14 1747134144.14
Development expenses
Goodwill 276001989.95 276001989.95
Long-term deferred 254143.60 254143.60
expenses
Deferred tax assets 825064057.57 825064057.57
Other non-current assets 204398450.18 204398450.18
Total non-current assets 15648777116.95 15648777116.95
Total assets 53455037840.98 53455037840.98
Current liabilities:
Short-term loans
Borrowings from the
central bank
Loans from other banks
Financial liabilities held for
trading
Derivative financial
liabilities
Notes payable
Accounts payables 1330649116.82 1330649116.82
Advance from customer 6753595187.64 -6753595187.64
Contract liabilities 8625433531.59 8625433531.59
Financial assets sold for
repurchase
Customer brokerage
deposits
Securities underwriting
brokerage deposits
Receivings from
vicariously sold securities
Employee benefits
payable
116094163.25 116094163.25
Taxes payable 1815288006.47 1815288006.47
Other payables 6521146762.07 3962515639.56 -2558631122.51
Including:Interests payable
Dividends payable
Handling charges and
commissions payable
Reinsurance accounts
payable
Liabilities held for sale
Non-current liabilities due
within one year
Other current liabilities 686792778.56 686792778.56
Total current liabilities 16536773236.25 16536773236.25
Non-current liabilities:
Insurance contract
reserves
Long-term loans 72723.00 72723.00
Bonds payable
Including: Preference
shares
Perpetual bonds
Lease liabilities
Long-term payables 197623728.85 197623728.85
Long-term payroll
payables
Accrued liabilities
Deferred income 89756500.00 89756500.00
Deferred tax liabilities 139259083.16 139259083.16
Other non-current
liabilities
Total non-current liabilities 426712035.01 426712035.01
Total liabilities 16963485271.26 16963485271.26
Shareholders' equity
Share capital 1506988000.00 1506988000.00
Other equity instruments
Including: preference
shares
Perpetual bonds
Capital reserves 741532550.13 741532550.13
Less: treasury stock
Other comprehensive
income
-3608771.16 -3608771.16
Special reserves
Surplus reserves 753494000.00 753494000.00
General risk reserve
Undistributed profits 33510429712.50 33510429712.50
Total equity attributable
to owners of the parent
company
36508835491.47 36508835491.47
Non-controlling interests -17282921.75 -17282921.75
Total owners' equity 36491552569.72 36491552569.72
Total liabilities and
owners' equity
53455037840.98 53455037840.98
Adjustment statement
The Company shall from 1 January 2020 implement the new revenue standards
according toNotification of Accounting Standard for Business Enterprises No.14-
Revenue (Caikuai [2018] No.22) revised and published by Ministry of Finance in July
2017.According to the requirements of the new revenue standards the comparative
financial statements shall not be retroactively adjusted.
Balance Sheet of Parent Company
Unit: CNY
Assets
Balance as at 31
December 2019
Balance as at 1 January
2020
Adjustment
Current assets:
Cash and cash
equivalents
3741676596.22 3741676596.22
Financial assets held for
trading
6991814305.98 6991814305.98
Derivative financial assets
Notes receivables 493500.00 493500.00
Accounts receivables 900252229.11 900252229.11
Account receivables
financing
Prepayment 110564280.51 110564280.51
Other receivables 8154899373.55 8154899373.55
Including:Interests
receivable
Dividends receivable
Inventories 10476945420.09 10476945420.09
Contract assets
Assets held for sale
Non-current assets due
within one year
Other current assets 303163.88 303163.88
Total current assets 30376948869.34 30376948869.34
Non-current assets:
Investment in debt
instruments
Investment in other debt
instruments
Long-term receivables
Long-term equity
investments
7964291378.23 7964291378.23
Investment in other equity
instruments
Other non-current financial
assets
1467783926.91 1467783926.91
Investment property
Fixed assets 4641909489.16 4641909489.16
Construction in progress 183652813.42 183652813.42
Productive biological
assets
Oil and gas assets
Right-of-use asset
Intangible assets 1230216202.93 1230216202.93
Development expenses
Goodwill
Long-term deferred
expenses
Deferred tax assets 6181509.39 6181509.39
Other non-current assets 170318838.68 170318838.68
Total Non-current
Assets
15664354158.72 15664354158.72
Total Assets 46041303028.06 46041303028.06
Current liabilities:
Short-term loans
Financial liabilities held for
trading
Derivative financial
liabilities
Notes payable
Accounts payables 1066947279.95 1066947279.95
Advance from customer 16238064053.40 -16238064053.40
Contract liabilities 14372628991.77 14372628991.77
Employee benefits
payable
Taxes payable 202771495.61 202771495.61
Other payables 180236563.85 180236563.85
Including:Interests payable
Dividends payable
Liabilities held for sale
Non-current liabilities due
within one year
Other current liabilities 1865435061.63 1865435061.63
Total current liabilities 17688019392.81 17688019392.81
Non-current liabilities:
Long-term loans 72723.00 72723.00
Bonds payable
Including:preference
shares
Perpetual bonds
Lease liabilities
Long-term payables 144680616.65 144680616.65
Long-term payroll
payables
Provisions
Deferred income
Deferred tax liabilities 49541198.05 49541198.05
Other non-current
liabilities
Total non-current
liabilities
194294537.70 194294537.70
Total liabilities 17882313930.51 17882313930.51
Owners' equity (or
shareholders' equity)
Share capital 1506988000.00 1506988000.00
Other equity instruments
Including: preference
shares
Perpetual bonds
Capital reserves 1341628480.93 1341628480.93
Less: treasury stock
Other comprehensive
income
Special reserves
Surplus reserves 753494000.00 753494000.00
Undistributed profits 24556878616.62 24556878616.62
Total owners' equity 28158989097.55 28158989097.55
Total liabilities and
owners' equity
46041303028.06 46041303028.06
Adjustment statement
The Company shall from 1 January 2020 implement the new revenue standards
according to Notification of Accounting Standard for Business Enterprises No.14 -
Revenue (Caikuai [2018] No.22) revised and published by Ministry of Finance in July
2017. According to the requirements of the new revenue standards the comparative
financial statements shall not be retroactively adjusted.
(4)Since 2020 the first implementation of new revenue standards or new leasing
standards will be retroactivelyadjusted to the comparative financial statements
? Applicable √ N/A
VI.Taxes
1. Major tax types and rates
Tax type Taxation basis Tax rate
Value-added tax (VAT) Output tax-deductible input tax 13%、10%、6%、19%
Consumption tax
Sales revenue or or composite
assessable price
Urban maintenance and construction tax Applicable turnover tax amount 7%、5%
Corporate income tax
Applicable income tax rate
Taxable income
25%、16.5%、0%、27%
Disclosure statement if there are various taxpaying bodies with different corporate
income tax rates
Company name Applicable tax rate
JSSJ Industry (HK) Holdings Co. Ltd. 16.50%
ZYG E-Commerce HK Limited 16.50%
Yanghe Hong Kong DistilleryCo. Ltd. 16.50%
Hong Kong Zhaiugou International Trade Co.Ltd. 16.50%
Yanghe Chile SPA 27%
YangHe International Investment Ltd ZYG Ltd 0
ZYG Technology Investment Ltd 0
2. Other information
1. Ad valorem taxation: liquor consumption tax shall be calculatedand paid according to
20% of the approved sales amount.The taxable liquor commissioned for processing shall
be taxed according to the sales price of similar liquor of the entrusted party and if there
is no sales price of similar liquor the taxable liquor shall be computed according to the
composition assessable price.Consumption tax on red wine (wine) is calculated at 10%
of sales.
2. Quantity-based taxation: liquor consumption tax is calculated and paid according to
CNY 0.50 per kg.
3. The corporate income tax is calculated and paid at 25% of the taxable income amount.
The profits tax rate applicable to JSSJ Industry (HK) Holdings Co. Ltd.Hong Kong
Zhaiugou International Trade Co.Ltd. ZYG E-Commerce HK Limited and Yanghe Hong
Kong Distillery Co. Ltd. is 16.50% and the income tax rate applicable to Yanghe Chile
SPA is 27%.YangHe International Investment Ltd ZYG Ltd and ZYG Technology
Investment Ltd are not required to pay any taxes to the government according to local
laws.VII. Notes to the main items of the consolidated financial
statements (all currency unit is CNY except other
statements)
1. Cash and cash equivalents
Unit: CNY
Item Closing balance Opening balance
Cash 4434.27 4067.27
Bank deposit 7201133719.50 4282803604.61
Other cash and cash equivalents 42048208.52 17337176.79
Total 7243186362.29 4300144848.67
Including: total deposit outbound 67157360.95 62676784.36
Other notes
Liquor manufacturing enterprises should disclose in detail whether there is any special interest
arrangement such as the establishment of capital co-management accounts with relevant parties
√ Applicable □ N/A
The Company shall comply with the disclosure requirements of the Shenzhen Stock Exchange Industry
Information Disclosure Guidelines No. 14 - Listed Companies Engage in Food and Liquor Manufacturing
Related Businesses
The Company does not have any special interest arrangement such as establishing fund co-
management account with relevant parties.
2. Financial assets held for trading
Unit: CNY
Item Closing balance Opening balance
Financial asset at fair value through
profit and loss
14301978905.17 17976767209.45
Including:
Equity instrument 2012500.00
Debt instrument 14301978905.17 17974754709.45
Including:
Total 14301978905.17 17976767209.45
3. Notes receivables
1)Classification of notes receivables
Unit: CNY
Item Closing balance Opening balance
Bank acceptance bill 613496333.71 659266780.81
Total 613496333.71 659266780.81
Unit: CNY
Item
Closing balance Opening balance
Book balance Provision for bad debt
Book value
Book balance Provision for bad debt
Book value
amount proportion amount proportion amount proportion amount proportion
Including:
Provision for bad debt of notes
receivablesby portfolio
613496333.71 100.00% 613496333.71 659266780.81 100.00% 659266780.81
Including:
Bank acceptance bill portfolio 613496333.71 100.00% 613496333.71 659266780.81 100.00% 659266780.81
Total 613496333.71 100.00% 613496333.71 659266780.81 100.00% 659266780.81
Provision for bad debt by individual: 0.00
Unit: CNY
Item
Closing balance
Book balance Provision for bad debt Proportion Reason
Provision for bad debt by individual: 0.00
Unit: CNY
Item
Closing balance
Book balance Provision for bad debt Proportion Reason
Provision for bad debt by individual: 0.00
Unit: CNY
Item
Closing balance
Book balance Provision for bad debt Proportion Reason
Provision for bad debt by portfolio:
Unit: CNY
Item
Closing balance
Book balance Provision for bad debt Proportion
Bank acceptance bill portfolio 613496333.71 0.00
Notes to determine provision for bad debt by portfolio:
Provision for bad debt by portfolio:
Unit: CNY
Item
Closing balance
Book balance Provision for bad debt Proportion
Notes to determine provision for bad debt by portfolio:
If provision for bad debt of notes receivable is calculated according to the general model of expected credit loss please refer to the disclosure method
of other receivables to disclose the relevant information aboutprovision for bad debt:
□ Applicable √ Not applicable
2) Notes receivable that have been endorsed to other parties by the Company but have not expired at the end of year
Unit: CNY
Item Derecognition at period end Not derecognition at period end
Bank acceptance bill 397528853.18
Total 397528853.18
4. Accounts receivables
(1) Disclosed by categories
Unit: CNY
Category
Closing balance Opening balance
Book balance Provision for bad debt
Book value
Book balance Provision for bad debt
Book value
Amount Proportion Amount Proportion Amount Proportion Amount Proportion
Including:
Provision for bad debt by
portfolio
6902858.86 100.00% 2677627.96 38.79% 4225230.90 18852659.14 100.00% 2772040.49 14.70% 16080618.65
Including:
Risk portfolio 6902858.86 100.00% 2677627.96 38.79% 4225230.90 18852659.14 100.00% 2772040.49 14.70% 16080618.65
Other portfolio
Total 6902858.86 100.00% 2677627.96 38.79% 4225230.90 18852659.14 100.00% 2772040.49 14.70% 16080618.65
Provision for bad debt by individual:
Unit: CNY
Name of client
Closing balance
Book balance Provision for bad debt Proportion Reason
Provision for bad debts by portfolio: Risk portfolio
Unit: CNY
Overdue years
Closing balance
Accounts receivables Provision for bad debt Proportion of provision
Overdue within 1 year 3767292.61 113018.78 3.00%
Overdue 1-2 years 88718.59 8871.86 10.00%
Overdue 2-3 years 31993.58 6398.72 20.00%
Overdue more than 3
years
3014854.08 2549338.60 84.56%
Total 6902858.86 2677627.96 --
Notes to determine provision for bad debt by portfolio:
For accounts receivables divided into risk portfolio the Company refers to the historical
credit loss experience and combines the current situation and the forecast of future
economic situation and prepares a comparison table between overdue ages of accounts
receivables and expected credit loss rate of the whole duration to calculate the expected
credit loss.Provision for bad debt by portfolio:
Unit: CNY
Item
Closing balance
Book Balance Provision for bad debt Proportion
Notes to determine provision for bad debt by portfolio:
If provision for bad debt of notes receivable is calculated according to the general model
of expected credit loss please refer to the disclosure method of other receivables to
disclose the relevant information aboutprovision for bad debt:
□ Applicable √ Not applicable
Disclosed by aging
Unit: CNY
Aging Book value
Within 1 year (including 1 year) 3767292.61
1-2 years 88718.59
2-3 years 31993.58
Over 3 years 3014854.08
3-4 years 891788.77
4-5 years 98105.45
Over 5 years 2024959.86
Total 6902858.86
The Company shall comply with the disclosure requirements of Shenzhen Stock
Exchange Industry Information Disclosure Guidelines No. 14 - Listed Companies
Engaging in Food and Liquor Manufacturing Related Businesses.
(2) Provision for bad debt that is accrued recovered or reversed during this period
Provision for bad debts during this period:
Unit: CNY
Category
Opening
balance
Changes in the current period
Closing
balance Provision
Recovered
or reversed
Write off Others
Provision for
bad debt of
accounts
receivables
2772040.49 94412.53 2677627.96
Total 2772040.49 94412.53 2677627.96
Significant amount of reversal or recovery duringthis period
Unit: CNY
Company name Amount recovered or reversed Method
(3)Top five entities with the largest balances of the accounts receivables
Unit: CNY
Company's name Closing balance
Proportion in the total
accounts
receivables
Provision amount
First 973744.36 14.11% 29212.33
Second 600066.00 8.69% 18001.98
Third 600000.00 8.69% 600000.00
Fourth 454356.93 6.58% 454356.93
Fifth 434565.07 6.30% 13036.95
Total 3062732.36 44.37%
5. Prepayment
(1)Analysis by aging
Unit: CNY
Aging
Closing balance Opening balance
Amount Proportion Amount Proportion
Within 1 year 7941357.88 84.85% 198626119.93 99.26%
1-2 years 847516.09 9.06% 972506.99 0.48%
2-3 years 272564.91 2.91% 413485.27 0.21%
Over 3 years 297407.60 3.18% 103213.00 0.05%
Total 9358846.48 -- 200115325.19 --
Significant prepayment aging over 1 year without settlement on time :
No significant prepaymentaging over 1 year are recorded in the ending balance.
(2)Top five entities with the largest balances of prepayment
Company’s name Closing balance Proportion in the total prepayment (%)
First 1952540.69 20.86
Second 1231817.00 13.16
Third 616680.27 6.59
Fourth 688310.00 7.36
Fifth 485555.44 5.19
Total 4974903.40 53.16
6. Other receivables
Unit: CNY
Item Closing balance Opening balance
Other receivables 30318938.67 37521590.52
Total 30318938.67 37521590.52
(1)Other receivables
a) Other receivables by nature
Unit: CNY
Nature of other receivables Closing balance Opening balance
Savings deposits (infringement dispute) 65747048.93 65747048.93
Deposit 16298680.14 15338991.78
Cooperation 3910000.00 3910000.00
Business loans petty cash and others 19800887.50 28136955.41
Total 105756616.57 113132996.12
b)Provision for bad debt
Unit: CNY
Bad debt
Phase 1 Phase 2 Phase 3
Total
Expected credit
losses in the next
12 months
Expected credit loss
for lifetime (No credit
loss occurred)
Expected credit loss
for lifetime (Credit
loss occurred)
Balance as at 1
January 2020
485801.96 75125603.64 75611405.60
Change of opening
balance as at 1
January 2020 in
current period
—— —— —— ——
Provision in 2020 66429.11 66429.11
Write-off in 2020 218499.03 218499.03
Other changes -21657.78 -21657.78
Balance as at 31
December 2020
245645.15 75192032.75 75437677.90
Significant changes of loss provision in the book balance during this period.
□ Applicable √ Not applicable
Disclosure by aging
Unit: CNY
Aging Book value
Within 1 year(including 1 year) 6046860.37
1-2 years 587785.71
2-3 years 3082251.10
Over 3 years 96039719.39
3-4 years 3646132.27
4-5 years 115065.49
Over 5 years 92278521.63
Total 105756616.57
c)Provision for bad debt that is accrued recovered or reversed during this period
Provision for bad debts during this period:
Unit: CNY
Category
Opening
balance
Changes in current period
Closing
balance Provision
Recovered
or reversed
Write off
Other
changes
Other 75611405.60 152069.92 -21657.78 75437677.90
receivables bad
debt provision
Total 75611405.60 152069.92 -21657.78 75437677.90
Significant amount of reversal or recovery during this period:
Unit: CNY
Company Name Recovery amount Method
d)Top five entities with the largest balances of other receivables
Unit: CNY
Company’sname Category
Closing
balance
Aging
Proportion in
total
receivables
Provisioning
amount at period
end
Industrial
Commercial Bank
of China Ltd.
Zhengzhou Jiefang
Road branch.Savings deposit
(Infringementdispute)
42907124.66 Over 5 years 40.57% 19872137.40
Industrial
Commercial Bank
of China Ltd.
Kaifeng Haode
branch
Savings deposit
(Infringementdispute)
22839924.27 Over 5 years 21.60% 22839924.27
Bankruptcy
administrator of
Jiangsu Juntai
Properties
Co.Ltd. Suqian
Guotai Department
Store Co.Ltd.
Deposit 15000000.00 Over 5 years 14.18% 15000000.00
Nanjing Peilong
Sports Culture Co.Ltd.
Cooperation 3910000.00 Over 5 years 3.70% 3910000.00
Advance money
for another
Advance money
for another
2379354.55 3-4 year 2.25% 2379354.55
Total -- 87036403.48 -- 82.30% 64001416.22
7. Inventories
Whether the Company needs to comply with the disclosure requirement of real estate
industry.No
(1)Categories of Inventories
Unit: CNY
Category
Closing balance Opening balance
Book balance
Provision for
stock
obsolescence
Book value Book balance
Provision
for stock
obsolesce
nce
Book value
Raw material
326289956.
43
9565908.51 316724047.92
394844178.6
1
6710130.
33
388134048.
28
Work in
progress
557314618.
19
557314618.19
551503829.4
1
551503829.
41
Stocks
158263719
5.62
1582637195.
62
1704339664.
69
170433966
4.69
semi-finished
goods
123960182
84.57
12396018284
.57
1178926715
3.89
117892671
53.89
Total
148622600
54.81
9565908.51
14852694146
.30
1443995482
6.60
6710130.
33
144332446
96.27
The Company shall comply with the disclosure requirements of Shenzhen Stock
Exchange Industry Information Disclosure Guidelines No. 14 - Listed Companies
Engaging in Food and Liquor Manufacturing Related Businesses.
(2)Provision for stock obsolescence
Unit: CNY
Category
Opening book
balance
Increases in current period
Decreases in current
period Closing book
balance
Provision Other
Recovery or
reversal
Other
Raw material 6710130.33 6196876.85 3341098.67 9565908.51
Total 6710130.33 6196876.85 3341098.67 9565908.51
Determination basis of net realizable values of inventories
i. In normal operation process for merchandise inventories held directly for sale
including stock commodities (finished goods) and materials for sale their net realizable
values are determined at their estimated selling prices minus their estimated selling
expenses and relevant taxes and surcharges.ii. In normal operation process for material inventories that need further processing their
net realizable values are determined at the estimated selling prices of finished goods
minus estimated costs to completion estimated selling expenses and relevant taxes and
surcharges.iii. For inventories held to execute sales contract or service contract their net realizable
values are calculated on the basis of contract price. If the quantities of inventories
specified in the sales contracts are less than the quantities held by the Company the net
realizable value of the excess portion of inventories shall be based on general selling
prices.iv. The materials held for production shall be measured at cost if the net realizable value
of the finished products is higher than the cost. If a decline in the value of materials
shows that the net realizable value of the finished products is lower than the cost the
materials shall be measured at the net realizable value.The recovery or reversal of stock obsolescence in the current period is the provision of
stock obsolescence for raw materials consumed in the current period.
8. Other current assets
Unit: CNY
Item Closing balance Opening balance
VAT to be deducted 168810154.82 159457511.39
Consumption tax to be deducted 6483646.87 7020885.09
Advance payment of income tax 7543269.30 16641257.99
Total 182837070.99 183119654.47
9. Long-term equity investments
Unit: CNY
Investee
Opening
balance
Changes in current period
Closing
balance
Closing balance
of provision for
impairment
Increase Decrease
Profit or loss
recognized
under equity
method
Adjustment
s of other
comprehen
sive
income
Other
changes in
equity
Cash divided
or profit
declared
Provision
for
impairment
Other
Joint venture
Diageo
Internation
al Spirits
Company
Limited
10521622.1
8
-658669.17
-
342416.50
740610.50 10261147.01
Subtotal
10521622.1
8
-658669.17
-
342416.50
740610.50 10261147.01
Associated enterprise
Jiangsu Su
Wine
Culture
Transmissi
on CoLtd.
4141514.81 557983.73 -172288.69 4527209.85
Nanjing
Hesong
Culture
4045488.86 -191051.07 3854437.79
Technology
Co.Ltd.
Jiangsu
Xinghe
Investment
Manageme
nt Co.Ltd.
6653025.53 4232556.98 10885582.51
Subtotal
14840029.2
0
4599489.64 -172288.69 19267230.15
Total
25361651.3
8
3940820.47
-
342416.50
568321.81 29528377.16
Other notes:
Other changes in the increase or decrease of long-term equity investment in the current period are the impact of adjusted long-term equity investment due to unrealized sales
profit of downstream transactionsand exchange rate changes.
10. Other non-current financial assets
Unit: CNY
Item Closing balance Opening balance
Classified as financial assets at fair value through
profit and loss
Including: equity instrument investment 4519967688.33 3353861013.63
Debt instrument investment 1846990537.48 1696990657.53
Total 6366958225.81 5050851671.16
11. Fixed assets
Unit: CNY
Item Closing balance Opening balance
Fixed Assets 6882953634.34 7256557503.85
Total 6882953634.34 7256557503.85
(1)Details of fixed assets
Unit: CNY
Item Buildings and constructions Machinery equipment Transportation equipment Other equipment Total
Original cost of fixed assets
1.Opening Balance 7910068298.24 3154532441.81 66546449.77 410383454.75 11541530644.57
2.Increase in current period 268503489.45 71957131.32 3621457.60 14699120.57 358781198.94
(1)External purchase 22078140.26 71957131.32 3621457.60 14699120.57 112355849.75
(2)Transfer from construction in progress 246425349.19 246425349.19
(3) Increase from business combination
3.Decrease in current period 9097740.24 8639283.00 570651.58 4681406.04 22989080.86
(1)Disposal or retirement 9097740.24 8639283.00 570651.58 4681406.04 22989080.86
(2)Decrease from business combination
4.Closing Balance 8169474047.45 3217850290.13 69597255.79 420401169.28 11877322762.65
Accumulated depreciation
1.Opening Balance 2277433792.29 1654577077.62 50326402.03 302635868.78 4284973140.72
2.Increase in current period 383086384.69 280314176.23 5850072.07 58300214.84 727550847.83
(1)Provision 383086384.69 280314176.23 5850072.07 58300214.84 727550847.83
3.Decrease in current period 6270051.43 6975976.68 916859.27 3991972.86 18154860.24
(1) Disposal or retirement 6270051.43 6975976.68 916859.27 3991972.86 18154860.24
4.Closing Balance 2654250125.55 1927915277.17 55259614.83 356944110.76 4994369128.31
Provision for fixed asset impairment
1.Opening Balance
2.Increase in current period
(1)Provision
3.Decrease in current period
(1)Disposal or retirement
4.Closing Balance
Book value
1.Closing book value 5515223921.90 1289935012.96 14337640.96 63457058.52 6882953634.34
2.Opening book value 5632634505.95 1499955364.19 16220047.74 107747585.97 7256557503.85
(2)Investment properties without certification of right
Unit: CNY
Item Book value Reason for not having the certification of right
Yanghe Blue-collar workers apartment 136256140.84 In process
Yanghe 40000-ton pottery jar warehouse 175790462.04 In process
Yanghe workshop etc. 111059271.04 In process
Total 423105873.92
12. Construction in progress
Unit: CNY
Item Closing balance Opening balance
Construction in progress 223468482.24 263153505.12
Total 223468482.24 263153505.12
(1)Details of the construction in progress
Unit: CNY
Item
Closing balance Opening balance
Book Balance
Provision for
impairment
Book value Book Balance
Provision for
impairment
Book value
R&D Center Building project 330097.09 330097.09 330097.09 330097.09
Packaging logistics project of Shuanggou Distillery industry park 3457949.57 3457949.57 3145312.97 3145312.97
Shuanggou new area brewing project 13132641.22 13132641.22
Shuanggou new area supporting project 492307.69 492307.69 492307.69 492307.69
Shuanggou packaging production line 10610699.88 10610699.88 10610699.88 10610699.88
Intelligent brewing (Mellowness 125 workshop) project 18611596.70 18611596.70 26209114.57 26209114.57
Siyang base three-dimensional warehouse packaging production line
project
1090909.09 1090909.09 14449560.37 14449560.37
Qu-making third workshop sesame qu expansion phase II project 5955626.39 5955626.39
40000 tons of pottery jar warehouse project 12714991.93 12714991.93 82205504.93 82205504.93
Nanjing operation center building project 114003278.26 114003278.26 40644198.33 40644198.33
Other projects 62156652.03 62156652.03 65978441.68 65978441.68
Total 223468482.24 223468482.24 263153505.12 263153505.12
(2)Significant changes in construction in progress
Unit: CNY
Item Budget
Opening
balance
Increase
in
current
period
Transfer
into fixed
assets
Other
decreases
Closing
balance
Proportion of
accumulative
project input in
budget (%)
Progress
Interest
capitaliza
tion rate
Include:Ca
pitalized
interest for
the period
Capitalizati
on rate for
the period
Source
of
funds
R&D Center Building project
26051000
0.00
330097.
09
330097.09 197.87% Late stage Other
Shuanggou new area bottle
storage and packaging
relocation project
49500000
0.00
314531
2.97
312636.
60
3457949.5
7
207.18% Late stage
Other
Shuanggou new area brewing
project
52818000
0.00
131326
41.22
1313264
1.22
162.55%
Late stage
Other
Shuanggou new area
supporting project
70000000
.00
492307.
69
492307.69 173.17%
Late stage
Other
Shuanggou packaging
production line
12000000
0.00
106106
99.88
10610699.
88
89.53%
Late stage
Other
Intelligent brewing
(Mellowness 125 workshop)
project
45000000
.00
262091
14.57
411472
8.24
1171224
6.11
18611596.
70
67.38% Late stage
Other
Siyang base three-dimensional
warehouse packaging
production line project
41000000
.00
144495
60.37
573925
4.40
1909790
5.68
1090909.0
9
64.93% Late stage
Other
Qu-making third workshop
sesame qu expansion phase II
project
9800000.
00
595562
6.39
176337
4.94
7719001.
33
78.76% Late stage
Other
40000 tons of pottery
jarwarehouse project
36000000
0.00
822055
04.93
116132
677.14
1856231
90.14
12714991.
93
55.09% Late stage
Other
Nanjing operation center
building project
80000000
0.00
406441
98.33
733590
79.93
114003278
.26
14.25% Early stage
Other
Total 2729490 197175 201421 2372849 161311830 -- -- --
000.00 063.44 751.25 84.48 .21
13. Intangible assets
(1)Details of intangible assets
Unit: CNY
Item Land use right Patent right No-patent right technology Trademark right
Computer
software
Total
Original cost of intangible assets
Opening balance 1951504148.14 399851465.43 118448570.28 2469804183.85
Increase in current period 5814263.84 15750107.50 21564371.34
Including: Acquired 5814263.84 15750107.50 21564371.34
Internally developed
Business combination
Decrease in current period
Including: Disposal
Closing balance 1957318411.98 399851465.43 134198677.78 2491368555.19
Accumulated amortization of intangible
assets
Opening balance 287051471.16 387109803.02 48508765.53 722670039.71
Increase in current period 40313330.51 1890025.46 12968466.41 55171822.38
Including: Provision 40313330.51 1890025.46 12968466.41 55171822.38
Decrease in current period
Including: Disposal
Closing balance 327364801.67 388999828.48 61477231.94 777841862.09
Provision for impairment
Opening balance
Increase in current period
Including: Provision
Decrease in current period
Including: Disposal
Closing balance
Book value of intangible assets
Closing book value 1629953610.31 10851636.95 72721445.84 1713526693.10
Opening book value 1664452676.98 12741662.41 69939804.75 1747134144.14
The proportion of intangible assets formed through internal research and development of the Company in the balance of intangible assets at the end
of this period is 0.00%.
14. Goodwill
(1)Original cost of goodwill
Unit: CNY
Investee’s name or items resulting in goodwill Opening balance
Increasein current period Decrease incurrent period
Closing balance
Business combination Disposal
Jiangsu Shuanggou Distillery Stock Co.Ltd. 276001989.95 276001989.95
Jiangsu Zhaiugou E-commerce Co.Ltd 6940018.79 6940018.79
Jiangsu Zhaibianli E-commerce Co.Ltd 21250284.80 21250284.80
Guizhou Guijiu Co.Ltd. 18826210.01 18826210.01
ZYG TECHNOLOGY INVESTMENT LTD 5057111.19 5057111.19
Guizhou Welcome Drink Stock Co.Ltd 11333195.25 11333195.25
Total 339408809.99 339408809.99
(2)Provision for impairment of goodwill
Unit: CNY
Investee’s name or items resulting in goodwill Opening balance
Increasein current period Decrease incurrent period Closing
balance Provision Disposal
Jiangsu Zhaiugou E-commerce Co.Ltd 6940018.79 6940018.79
Jiangsu Zhaibianli E-commerce Co.Ltd 21250284.80 21250284.80
Guizhou Guijiu Co.Ltd. 18826210.01 18826210.01
ZYG TECHNOLOGY INVESTMENT LTD 5057111.19 5057111.19
Guizhou Welcome Drink Stock Co.Ltd 11333195.25 11333195.25
Total 63406820.04 63406820.04
Related information of asset groups or asset group portfolio containing goodwill
Goodwill impairment test according to the present value of the expected future cash flow
of the asset groups group assets of recent three years based on the actual operation
situation and the future operation of the expectations the estimated future cash flow of
the asset group and according to the pre-tax discount rate of 19.93% discount after
calculating the recoverable amount of an asset group. After the test there is no goodwill
impairment resulting from the acquisition of Jiangsu Shuanggou Distillery Stock Co. Ltd.Statement of testing process of impairment of goodwill key parameters (e.g. the forecast
growth rate at present value of future cash flows; the growth rate in stable period; profit
margin; the discount rate; predictive period and etc.) and determination methods of
recognizing goodwill impairment loss.
Effect of goodwill impairment test
Other statements
15. Long-term prepaid expenses
Unit: CNY
Item
Opening
balance
Increase in the
current period
Amortization for
the current period
Other
decreases
Closing
balance
Renovation costs
of rented house
254143.60 127071.84 127071.76
Total 254143.60 127071.84 127071.76
16. Deferred tax assets/ deferred tax liabilities
(1)Deferred tax assets before offset
Unit: CNY
Item
Closing balance Opening balance
Deductible
temporary
differences
Deferred tax
assets
Deductible temporary
differences
Deferred tax
assets
Provision for asset
impairment
84810902.34 21202543.99 81682220.18 20415104.69
Unrealized profit from
internal transaction
35903134.07 8975783.52 41036182.10 10259045.53
Deductible losses 787092991.66 196773247.91 456081306.89 114020326.72
The difference
between book value
of debt and tax base
2795879312.35 698969828.09 2721478322.51 680369580.63
Total 3703686340.42 925921403.51 3300278031.68 825064057.57
(2)Deferred tax liabilities before offset
Unit: CNY
Item
Closing balance Opening balance
Taxable temporary
differences
Deferred tax
liabilities
Taxable temporary
differences
Deferred tax
liabilities
Valuation of
appreciation of
business combination
assets not under
common control
44387767.84 11096941.96 47048144.60 11762036.15
Changesinfair value of
financial assets held
for trading
1781604966.78 445242472.42 516851327.69 127497047.01
Total 1825992734.62 456339414.38 563899472.29 139259083.16
(3)Deferred tax assets or liabilities presented as net value after offset
Unit: CNY
Item
Offset amount of
deferred tax
assets and
deferred tax
liabilities
Closing balance
ofdeferred tax
assets or deferred
tax liabilities after
offset
Opening offset
amount of deferred
tax assets and
deferred tax liabilities
Opening balance
ofdeferred tax
assets or deferred
tax liabilities after
offset
Deferred tax assets 925921403.51 825064057.57
Deferred tax liabilities 456339414.38 139259083.16
(4)Details of unrecognized deferred tax assets
Unit: CNY
Item Closing balance Opening balance
Deductible temporary differences 88933255.36 97994641.66
Deductible losses 105350440.90 155606254.87
Total 194283696.26 253600896.53
(5)Deductible losses from unrecognized deferred tax assets will due on the
following years
Unit: CNY
Year Closing balance Opening balance Note
2021 50282695.77
2022 53837061.59 67671298.41
2023 32435218.31 32435218.31
2024 5217042.38 5217042.38
2025 13861118.62
Total 105350440.90 155606254.87 --
17. Other non-current assets
Unit: CNY
Item Book Balance
Provision
for
impairment
Book value Book Balance
Provision
for
impairment
Book value
Compensation
for land
demolition
158606824.94 158606824.94 158606824.94 158606824.94
Prepayment
of
construction
equipment
and house
purchase
51070769.27 51070769.27 45791625.24 45791625.24
Total 209677594.21 209677594.21 204398450.18 204398450.18
18. Accounts payables
(1)Presentation of accounts payables
Unit: CNY
Item Closing balance Opening balance
Material purchase 1073245695.34 1263490446.81
Construction and equipment payment 78625440.95 67158670.01
Total 1151871136.29 1330649116.82
(2) Significant accounts payables agingover one year
No significant accounts payables aging over 1 year are recorded in the ending balance.
19. Contract liabilities
Item Closing balance Opening balance
Advance from customers 6191149791.32 6066802409.08
Discounts and allowances payable to
the distributors that have not yet been
settled
2610197100.00 2558631122.51
Total 8801346891.32 8625433531.59
20. Employee benefits payable
(1)Employee benefits payable shown as follows:
Unit: CNY
Item Opening balance
Increase in current
period
Decrease in current
period Closing balance
Short-term benefits 115901955.94 2133071155.75 2052923831.69 196049280.00
Post-employment
benefits-defined
contribution plans
192207.31 101619932.92 101619932.92 192207.31
Termination benefits 178106.65 178106.65
Total 116094163.25 2234869195.32 2154721871.26 196241487.31
(2)Short-term employee benefits payable shown as follows:
Unit: CNY
Item Opening balance
Increase in current
period
Decrease in current
period Closing balance
Wages bonuses
allowances and
grants
115829721.23 1894760493.20 1814620438.45 195969775.98
Employees’
welfare
90855372.73 90855372.73
Social insurance
premiums
14860.08 59562248.28 59562248.27 14860.09
Including: Medical
Insurance
7972.00 48484584.65 48484584.65 7972.00
Work-related injury
insurance
6875.33 3094322.99 3094322.98 6875.34
Maternity
insurance premium
12.75 7983340.64 7983340.64 12.75
Housing funds 52659.80 80588403.00 80581095.00 59967.80
Labor union
expenditures and
employee
education funds
4714.83 7304638.54 7304677.24 4676.13
Total 115901955.94 2133071155.75 2052923831.69 196049280.00
(3)Defined Contribution Plan shown as follows:
Unit: CNY
Item Opening balance
Increase in current
period
Decrease in current
period Closing balance
Basic endowment
insurance premium
191323.23 98535581.57 98535581.57 191323.23
Unemployment
insurance premium
884.08 3084351.35 3084351.35 884.08
Total 192207.31 101619932.92 101619932.92 192207.31
21. Taxes payable
Unit: CNY
Item Closing balance Opening balance
Value-added tax 150194783.11 27126012.81
Consumption tax 533945998.98 184097543.52
Enterprise income tax 1333112088.00 1548461975.77
Individual Income Tax 20265903.93 11273828.79
Urban maintenance and construction tax 45918790.94 11574124.18
Land use tax 6456687.93 4322610.74
Property tax 22210815.89 14349066.89
Education Surcharge and Local Education
Surcharge
37359708.11 11016464.11
Stamp tax 1005142.70 731524.41
Integrated funds 2545.99 2954.09
Other tax 2333690.85 2331901.16
Total 2152806156.43 1815288006.47
22. Other payables
Unit: CNY
Item Closing balance Opening balance
Other payables 1556699290.45 3962515639.56
Total 1556699290.45 3962515639.56
(1) Other payables
(a)Categories by nature
Unit: CNY
Item Closing balance Opening balance
Dealer deposit 279298081.55 2668012523.41
Dealer risk pledged deposit 681336068.47 718922266.50
Accrued expenses 303563123.81 306270802.86
Quality guarantee deposit and
performance deposit
195028352.99 180729458.44
Other payables 97473663.63 88580588.35
Total 1556699290.45 3962515639.56
(b) Other important payables aging more than 1 year
Unit: CNY
Item Closing balance
Reasons for being unpaid or
written-off
Dealer risk pledged deposit and dealer
deposit
741568207.73
Dealer risk pledged deposit
and dealer deposit not yet due
Total 741568207.73 --
23. Other current liabilities
Item Closing balance Opening balance
Output tax has not yet
received
798216651.49 686792778.56
Total 798216651.49 686792778.56
24. Long-term loans
(1)Long-term loans by category
Unit: CNY
Item Closing balance Opening balance
Credit loans 36360.00 72723.00
Total 36360.00 72723.00
25. Long-term payables
Unit: CNY
Item Closing balance Opening balance
Special accounts payables 197049341.93 197623728.85
Total 197049341.93 197623728.85
(1)Special accounts payables
Unit: CNY
Item Opening balance
Increase in current
period
Decrease in
current
period
Closing balance Reason
Compensation for
replacement of
employee status
197623728.85 574386.92 197049341.93
Total 197623728.85 574386.92 197049341.93 --
26. Deferred incomes
Unit: CNY
Item Opening balance
Increase in
current period
Decrease in
current period
Closing
balance
Reason
Government
grants
89756500.00 5000000.00 8757000.00 85999500.00
Government
grants
Total 89756500.00 5000000.00 8757000.00 85999500.00 --
Projects involving government grants:
Unit: CNY
Liability
item
Opening
balance
Increase
in current
period
Non-
operating
income in
current period
Other
income
in current
period
Cost
reduction in
current
period
Other
changes
Closing
balance
Relevant
to asset
or
income
Hubei
Lihuacun
liquor
industry
liquor
brewing
filling
project
supporting
facilities
constructio
n subsidies
2605360
0.00
425700
0.00
2179660
0.00 Asset
Special
fund for
packaging
logistics
project in
1500000
0.00
300000
0.00
1200000
0.00 Asset
Shuanggou
new area
Special
fund for
Harbin
Binzhou
brewery
constructio
n project
4120290
0.00
4120290
0.00 Asset
Shuanggou
sewage
treatment
project
7500000.
00
150000
0.00
6000000
.00 Asset
The second
batch of
provincial-
level
industrial
and
information
industry
transformati
on and
upgrading
special
funds in
2020
5000000.
00
5000000
.00 Asset
Total
8975650
0.00
5000000.
00
875700
0.00
8599950
0.00
27. Share capital
Unit: Share
Opening
balance
Increases/decreases in the current period (+ -)
Closing
balance Issuance of
new shares
Share
donation
Conversion
of reserves
funds into
shares
Others Subtotal
Total number
of shares
150698800
0.00
1506988000
.00
28. Capital reserves
Unit: CNY
Item Opening balance
Increase in
current period
Decrease in
current period
Closing balance
Share premium 741502550.13 741502550.13
Other capital reserves 30000.00 30000.00
Total 741532550.13 741532550.13
29. Treasury stock
Item Opening balance
Increase in
current period
Decrease in
current period
Closing balance
Share repurchase 1002128680.79 1002128680.79
Total 1002128680.79 1002128680.79
Other notes including the changes in the current period the reasons for the changes
On 29 October 2019 the sixth session of the ninth meeting of the board of directors was
held. It reviewed and approved the plan about repurchasing part of the social public
shares and agreed to use its own funds to repurchase shares through centralized
bidding. The total amount of repurchase is not less than CNY 1 billion (inclusive) and not
more than CNY 1.5 billion (inclusive). The repurchase price is not more than CNY 135.00
per share (inclusive). The period of repurchases is within 12 months since the
repurchase plan is reviewed and approved by the sixth session of the ninth meeting of
the board of directors. The Company's 2019 annual equity distribution plan has been
implemented on 24 June 2020. According to the Company's repurchase plan the upper
limit of the price of repurchased shares has been adjusted from no more than RMB 135 /
share (inclusive) to no more than RMB 132.01 / share (inclusive). This share
repurchased is used to implement equity incentive or employee stock ownership plan for
core key employees of the Company. The Company has repurchased 9661310 shares
of the Company. The total amount of funds used is CNY 1002128680.79. The highest
purchase price is CNY 131.99 per share and the lowest is CNY 80.37 per share. The
repurchase amount of the Company has reached the lower limit of the total amount of
repurchase funds in the repurchase plan and not exceeded the upper limit of the total
amount of repurchase funds and the repurchase plan has been completed.The
company's equity incentive or employee stock ownership plan has not been implemented
and the Company's share capital structure has not changed.
30. Other comprehensive incomes
Unit: CNY
Item
Opening
balance
Current period
Closing
balance
Amount in
current period
before income
tax
Less: Previously
recognized in other
comprehensive
income transferred to
profit or loss
Less: previously
recognized in other
comprehensive income
transferred to retained
earnings
Less:
income tax
Amount
attribute to
parent
company after
tax
Amount attribute to
non-controlling
shareholders after
tax
2.Other consolidate incomes
that will be reclassified into profit
and loss
-3608771.16 -1630142.86 -1604477.77 -25665.09 -5213248.93
Including: other comprehensive
income will be reclassified into
profits or losses under the
equity method
178619.29 -342416.50 -342416.50 -163797.21
Difference from translation of
financial statements in foreign
currency
-3787390.45 -1287726.36 -1262061.27 -25665.09 -5049451.72
Total other comprehensive
income
-3608771.16 -1630142.86 -1604477.77 -25665.09 -5213248.93
Other statements including adjustments for valid portion of the gains and or losses from cash flow hedging transferring to initial recognition amount of
projects hedged.
31. Surplus reserves
Unit: CNY
Item Opening balance Increase in current period Decrease in current period Closing balance
Statutory surplus reserves 753494000.00 753494000.00
Total 753494000.00 753494000.00
Statements for surplus reserves including increase or decrease changes and change reasons this period:
32. Undistributed profits
Unit: CNY
Item Current period Previous period
Undistributed profit before adjustment at the end of the last
year
33510429712.50 30784308899.94
Adjustment in the total undistributed profits at the
beginning of year
165659685.69
Undistributed profit after adjustment at the beginning of
year
33510429712.50 30949968585.63
Plus: net profit attributable to owners of the parent
company for the current period
7482228633.63 7382822726.87
Ordinary share dividends payable 4502746983.00 4822361600.00
Undistributed profits at the end of the period 36489911363.13 33510429712.50
Statements for adjusting undistributed profits at the beginning of the period:
(1)Due to retrospective adjustment according to Accounting Standards for Business
Enterprises and related new rules undistributed profit at the
beginningincreases/decreases by CNY 0.00.
(2)Due to changes of accounting policies undistributed profit at the beginning
increases/decreases by CNY 0.00.
(3)Due to correction of accounting errors undistributed profit at the beginning
increases/decreases by CNY 0.00.
(4)Due to change of the consolidation scopeunder common control undistributed profit at
the beginning of the period increases/decreases by CNY 0.00.
(5)Due to other influences undistributed profit at the beginning totally
increases/decreases by CNY 0.00.
33. Operating revenue and cost of sales
Unit: CNY
Item
Current period amount Previous period amount
Operating revenue Cost of sales Operating revenue Cost of sales
Primary business 22161278307.05 5772779588.18 23186902149.00 5527417445.92
Other business 965198578.02 853582663.06 972899845.68 825824752.35
Total 23126476885.07 6626362251.24 24159801994.68 6353242198.27
whether the net profit is negative or not after deducting non-recurring profits and losses
by audit
□ Yes √ No
Information relating to revenue
Unit: CNY
Contract type Division 1 Division 2 Total
Including:
Including:
Information relating to performance obligations
N/A
Information relating to the transaction price apportioned to the remaining performance
obligations:
At the end of this report the amount of revenue corresponding to the performance
obligations with the contracts signed but not performed or not performed is CNY
6191149791.32 of which CNY 6191149791.32 is expected to be recognized in 2021
and CNY 0.00 is expected to be recognized in 2022
Other notes
34. Taxes and surcharges
Unit: CNY
Item Current period amount Previous period amount
Consumption tax 2847452319.78 2605319409.77
Urban maintenance and
construction tax
241392653.40 254046554.00
Educational surcharge 239859725.86 252226373.49
Property tax 60808511.65 61403035.90
Land use tax 18164433.97 17976049.12
Stamp tax 7942227.94 8809094.29
Increment tax on land value 1567679.81
Environmental protection tax 11898.43 126776.37
Others 13998.00 4853.34
Total 3415645769.03 3201479826.09
35. Selling and distribution expenses
Unit: CNY
Item Current period amount Previous period amount
Advertising and promotion expense 1411090022.81 1566903873.47
Payroll 646271019.11 502836431.55
Cargo charge 5184987.92 10327005.41
Labor expense 117975847.08 156239051.28
Travel expense 353434744.65 365735100.77
Business entertainment expense 1628111.11 3809795.16
Other expense 68219425.10 85859912.95
Total 2603804157.78 2691711170.59
36. General and administrative expenses
Unit: CNY
Item Current period amount Previous period amount
Payroll 665991755.03 727031403.39
Travel expense 34612481.35 60829942.03
Office allowance 6667982.75 7528872.00
Wate electric and steam expense 56946078.23 64916608.02
Business entertainment expense 18533811.47 18999148.74
Depreciation cost 463503047.71 489966400.69
Rental expense 7926700.20 2562113.84
Repair charge 40899196.47 54009927.49
Amortization of intangible assets 55171822.38 53008955.54
Vehicle use expense 17742719.25 20175918.19
Shipping and handling cost 43948370.23 41141371.90
Other expense 317136236.86 316321065.17
Total 1729080201.93 1856491727.00
37. Research & Development expenses
Unit: CNY
Item Current period amount Previous period amount
Material expenses 144095917.84 85700940.30
Payroll 77975559.20 54476101.25
Other expense 38022813.99 19788552.33
Total 260094291.03 159965593.88
38. Financial expenses
Unit: CNY
Item Current period amount Previous period amount
Interest expense 1964.00 2618.00
Bill discount expense 11719069.54 633304.85
Less: Interest income 104495154.37 77589503.94
Plus: Losses from currency exchange
(Less: income)
3670115.95 -3270386.19
Plus: Bank charges 1869240.49 1797415.87
Total -87234764.39 -78426551.41
39. Other income
Unit: CNY
Sources of other income Current period Previous period
Government grants received 98151595.19 83307366.37
Withholding personal tax commission 818031.70 1670388.78
Total 98969626.89 84977755.15
40. Investment income
Unit: CNY
Item Current period amount Previous period amount
Investment income from long-term equity
investments under the equity method
3940820.47 -4447288.34
Investment income from disposing long-
term equity investments
21516.26 -43877.59
Investment income from financial assets
held for trading during the holding period
113585439.53 40267966.45
Investment income from disposal of
financial assets held for trading
1089135586.23 814777407.10
Total 1206683362.49 850554207.62
41. Gains/losses of changes in fair value
Unit: CNY
Gains/losses of changes in fair value Current period amount Previous period amount
Financial assets held for trading 1267682598.52 158679505.33
Total 1267682598.52 158679505.33
42. Losses from credit impairment
Unit: CNY
Item Current period amount Previous period amount
Bad debt losses of other receivables 152069.92 -18373057.36
Bad debt losses of accounts receivables 94412.53 -583288.90
Total 246482.45 -18956346.26
43. Losses from asset impairment
Unit: CNY
Item Current period amount Previous period amount
Losses from provision for stock
obsolescence and contract
performance cost
-6196876.85 -2248496.85
Total -6196876.85 -2248496.85
44. Gains from disposal of assets
Unit: CNY
Gains from disposal of assets Current period amount Previous period amount
Gains from disposal of fixed assets 45438.89 19983101.67
45. Non-operating income
Unit: CNY
Item Current period amount Previous period amount
Amount included in non-
recurring profit and loss in
current period
Donations acceptance 9120063.00 9120063.00
Government grants 24000.00 2298016.82 24000.00
Liquidated damages income 4475586.24 11254294.46 4475586.24
Compensation payment 8475059.72 7819571.36 8475059.72
Account payables that are
unable to pay
64118.24 185947.97 64118.24
Others 2881043.09 688123.76 2881043.09
Total 25039870.29 22245954.37 25039870.29
Government grants included in current profits and losses:
Unit: CNY
Item Body Reason Type
Whether the
grants affects
current year profit
and loss
Whether it is
special grant
Current
period
amount
Previous
period
amount
Related to
assets/related
to earnings
46. Non-operating expenses
Unit: CNY
Item Current period amount Previous period amount
Amount included in
non-recurring profit and
loss in current period
Donation expenses 35400000.00 5546180.00 35400000.00
Losses from retirement of
fixed asset
4802593.81 6141958.08 4802593.81
Integrated fund 77328.11 79543.09
Reparations 422169.33 1442510.50 422169.33
Others 623399.13 114100.03 623399.13
Total 41325490.38 13324291.70 41248162.27
47. Income tax expense
(1)Statement of income tax expense
Unit: CNY
Item Current period amount Previous period amount
Current period income tax 2178072592.80 2472964546.78
Deferred income tax 216222985.28 -88251204.98
Total 2394295578.08 2384713341.80
(2)Adjustment for accounting profit and income tax expense
Unit: CNY
Item Current period amount
Total profit 9878901892.00
Income tax expenses determined by statutory/applicable
tax rate
2469725473.00
Impact from subsidiaries’ different tax rates -340473.91
Adjust for impact from income tax expense in previous
period
-16387934.87
Impact from non-taxable income -5537829.51
Non-deductible costs expenses and losses 4703997.41
Deductible from deferred tax assets in previous period -16029233.15
Temporary differences due to unrecognized deferred tax
asset during current period
4002241.61
Add the effect of the deduction -45840662.50
Income tax expense 2394295578.08
48. Net other comprehensive income
Please refer to Note VII-30. for details.
49. Consolidated cash flow items
(1)Cash received from other operation activities
Unit: CNY
Item Current period amount Previous period amount
Risk deposit 60255818.13 59275520.22
Dealer deposit 56575865.80 2602491.66
Interest income 104495154.37 77589503.94
Liquidated damages income 4475586.24 11254294.46
Government grants 94418595.19 76848383.19
Commission for withholding tax 818031.70 1670388.78
Others 48750584.17 31109582.42
Total 369789635.60 260350164.67
Statements for cash received from other operation activities:
(2)Cash paid for other operating activities
Unit: CNY
Item Current period amount Previous period amount
Transportation fee 45592659.35 51468377.31
Advertising promotion expense 1216976623.15 1751245676.57
Rental expense 11606602.30 10604573.95
Repair charge 40913095.81 54113100.25
Travel expense 408411257.95 450385225.31
Entertainment expense 20161922.58 22808943.90
Insurance expense 4473210.69 5386711.21
Labor expense 149569041.84 183149910.74
Others 389030101.57 435334271.31
Total 2286734515.24 2964496790.55
Statements for cash paid for other operating activities:
(3)Cash paid for other financing activities
Unit: CNY
Item Current period amount Previous period amount
A cash payment by minority shareholder 750000.00
Share repurchase 1002128680.79
Total 1002128680.79 750000.00
Statements for cash paid for other financing activities:
50. Supplementary information to consolidated statement of cash flow
(1)Supplementary information to consolidated statement of cash flow
Unit: CNY
Item Current period amount Previous period amount
Reconciliation of net profit to cash
flow from operating activities
-- --
Net profit 7484606313.92 7386090915.21
Add: Provision for asset impairment 5950394.40 21204843.11
Depreciation of fixed asset oil &gas
assets and productive biological assets
727550847.83 722009265.90
Depreciation of right-of-use asset
Amortization of intangible assets 55171822.38 53058955.54
Amortization of long-term deferred
expenses
127071.84 1034707.84
Losses from disposal of fixed assets
intangible assets and other long-term
Assets
-45438.89 -19983101.67
Losses on retirement of fixed assets 4669390.54 6141958.08
Losses from changes in fair value -1267682598.52 -158679505.33
Financial expense 3672079.95 -3267768.19
Losses on investments -1206683362.49 -850554207.62
Decrease in deferred tax asset -100857345.94 -111976025.37
Increase in deferred tax liabilities 317080331.22 23677944.98
Decrease in inventory -422305228.21 -537439892.94
Decrease in operation receivables 255853105.64 -612187011.25
Increase in operation payables -1878449751.14 878760793.12
Other 133203.27
Net cash flow from operating activities 3978790835.80 6797891871.41
Significant investing and financing
activities not Involving cash flow:
-- --
Net change in cash &cash
equivalents
-- --
Closing balance of cash 7243186362.29 4300144848.67
Less:opening balance of cash
equivalents
4300144848.67 3615348307.97
Net change in cash and cash
equivalents
2943041513.62 684796540.70
(2)Composition of cash and cash equivalents
Unit: CNY
Item Closing balance Opening balance
Cash 7243186362.29 4300144848.67
Including:cash on hand 4434.27 4067.27
Unrestricted bank deposit 7201133719.50 4282803604.61
Other unrestricted cash & cash
equivalents
42048208.52 17337176.79
Closing balance of cash and cash
Equivalents
7243186362.29 4300144848.67
51. Foreign currency transactions
(1)Foreign currency balance
Unit: CNY
Item
Closing balance in foreign
currency
Exchange rate
Closing balance in
CNY
Cash and cash equivalents -- --
Including:USD 1470471.60 6.52490 9594680.17
EUR
HKD 46702.46 0.84164 39306.66
CLP 60178014.00 0.009181 552494.35
Other receivables -- --
Including:HKD 125679.16 0.84164 105776.61
Accounts receivables
Including:USD
EUR
HKD
Accounts payables
Including:USD 499163.86 6.5249 3256994.27
CLP 35950.00 0.009181 330.06
Other payables
Including:HKD 1542853.06 0.84164 1298526.85
CLP 14000.00 0.009181 128.53
Long-term loans -- --
Including:USD
EUR
HKD
(2) Description of the overseas business entity including the important foreign
business entity which shall disclose its main foreign business place bookkeeping
standard currency and selection basis and shall also disclose the reason for the
change of the bookkeeping standard currency.
√ Applicable ? N/A
Foreign business
entities
Operation site
Functional
currency
Choosing reason
JSSJ Industry (HK)
Holdings Co. Limited
Hong Kong China HKD
Currency in the main economic
environment of business operations
Hong Kong Zhaiugo
International Trade
Co.Ltd.
Hong Kong China HKD
Currency in the main economic
environment of business operations
ZYG E-Commerce HK
Limited
Hong Kong China HKD
Currency in the main economic
environment of business operations
ZYG LTD
Cayman Islands USD
Currency in the main economic
environment of business operations
YangHe International
Investment Ltd
British Virgin Islands USD
Currency in the main economic
environment of business operations
ZYG
TechnologyInvestment
Ltd
British Virgin Islands USD
Currency in the main economic
environment of business operations
YangheChile SPA
Santiago Chile CLP
Currency in the main economic
environment of business operations
Yanghe Hong Kong
Distillery Co. Ltd.
Hong Kong China HKD
Currency in the main economic
environment of business operations
52. Government grants
(1)Details of government grants
Unit: CNY
Item Amount Presentation
Amount included
in profit or loss
Local industry support fund subsidy 46253370.32 Other income 46253370.32
Steady post subsidy 8112604.33 Other income 8112604.33
The first batch of subsidy funds for enterprise 5413141.00 Other income 5413141.00
transformation and upgrading in 2020
Financial return of small-scale taxpayers in
Nanjing
5081341.70
Other income
5081341.70
Subsidy of supporting stable employment by
working instead of training
4431885.00
Other income
4431885.00
Pollution dischargesubsidy 3000000.00 Other income 3000000.00
The second batch of provincial special funds for
industrial and information industry transformation
and upgrading in 2019
2300000.00
Other income
2300000.00
Tax incentives 2300000.00 Other income 2300000.00
2019 Suqian City high-skilled personnel shortage
type occupation (job) training subsidy
1223000.00
Other income
1223000.00
VAT exemption 1106351.92 Other income 1106351.92
The first batch of special funds for the introduction
of urgently needed talents for the development of
Northern Jiangsu in 2019
1086000.00
Other income
1086000.00
2019 provincial modern service industry (culture)
development special fund and provincial tourism
development special fund projects and funds
900000.00
Other income
900000.00
2019 municipal development guiding fund
(industrial development) project
880000.00
Other income
880000.00
2019 provincial business development special
block fund
528300.00
Other income
528300.00
“Yincai Yongcai” effective units recommendation
awards
500000.00
Other income
500000.00
Company brand image promotion subsidy 500000.00 Other income 500000.00
Jiangsu service-oriented manufacturing
demonstration enterprise award funds in 2019
500000.00
Other income
500000.00
2020 annual enterprise research and development
incentive funds
500000.00
Other income
500000.00
The third batch of provincial professional and
technical personnel continuing education bases
funds
500000.00
Other income
500000.00
Provincial intellectual property award and subsidy
funds in 2020
400000.00
Other income
400000.00
2018 Suqian high-level talents salary award funds 386400.00 Other income 386400.00
Subsidy of working instead of training 373725.00 Other income 373725.00
2020 annual provincial research and development
institution construction and performance award
funds
300000.00
Other income
300000.00
Tourism toilet project construction subsidy funds 204000.00 Other income 204000.00
Fire-fighting subsidy 200000.00 Other income 200000.00
Economic contribution reward 182640.00 Other income 182640.00
Government bailout funds 150000.00 Other income 150000.00
Jiangsu provincial tourism development special
funds in 2018
148000.00
Other income
148000.00
2019 municipal intellectual property award and
subsidy funds
100000.00
Other income
100000.00
Reward funds for Suqian's top 50 industrial
enterprises in 2019
100000.00
Other income
100000.00
2020 provincial high-skilled talents and key
construction project subsidy funds
100000.00
Other income
100000.00
Others 1657835.92
Other income /
Non-operating
income
1657835.92
Transfer of current deferred earnings 8757000.00 Other income 8757000.00
Total 98175595.19 98175595.19
VIII. Changes in consolidated scope
1. Others
Explain the change of merger scope caused by other reasons (such as new subsidiary
liquidation subsidiary etc.) and the relevant situation:
Establishment of subsidiaries
Su Wine Group Co.Ltd. the Company’s holding subsidiaryinvested CNY 2 million to
establishJiangsu Yanghe Painting and Calligraphy Academy. On 6 July 2020 the
Registration Certificate of Private Non-Enterprise Unit (Legal Person) issued by the Civil
Affairs Department of Jiangsu Province was obtained. It was included in the consolidated
financial statements from July 2020.
Cancellation of subsidiaries
(1) Huaian Huaqu Wine Development Co.Ltd. Jiangsu Huaqu Wine Group Nanjing
Co.Ltd. Taizhou Huaqu Wine Development Co.Ltd.Guizhou Guijiu Package Co.Ltd.
the holding subsidiaries were liquidated and terminated onJanuary 2020.FromFebruary
2020 theyare no longer included in the consolidated scope of the consolidated financial
statements.
(2) Jiangsu Huaqu Wine Group Suzhou Co. Ltd. Jiangsu Huaqu Wine Group Yancheng
Co. Ltd. the holding subsidiaries were liquidated and terminatedonMarch 2020.
FromApril 2020 theyare no longer included in the consolidated scope of the consolidated
financial statements.
(3) Jiangsu Huaqu Wine Group Nantong Co. Ltd. Jiangsu Huaqu Wine Group Wuxi Co.
Ltd. the holding subsidiaries were liquidated and terminated on April 2020. From May
2020 they are no longer included in the consolidated scope of the consolidated financial
statements.IX. Interests in other entities
1. Interests in subsidiaries
(1) Group composition:
Name of
subsidiaries
Major
business
location
Place of
registration
Nature of
business
Shareholding
Acquisition
method Direct Indirect
Nanjing Yanghe
Blue Classic
Co.Ltd.
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Commerce 100.00% Establishment
Beijing Yanghe
Commerce and
Trade Co.Ltd.
FengtaiBeijin
g
FengtaiBeijing Commerce 100.00% Establishment
Jiangsu Huaqu
Wine Group
Co.Ltd.
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Commerce 97.00% Establishment
Suqian Tianhai
Commerce and
Trade Co.Ltd.Suqian
Jiangsu
province
Suqian Jiangsu
province
Commerce 100.00% Establishment
HuaianHuaqu Wine
Development
Co.Ltd.
Huaian
Jiangsu
province
Huaian Jiangsu
province
Commerce 100.00% Establishment
Suqian Yanghe
Guibinguan
Co.Ltd.
Suqian
Jiangsu
province
Suqian Jiangsu
province
Hotel industry 100.00% Establishment
Jiangsu Huaqu
Wine Group
Nanjing Co.Ltd.Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Commerce 100.00% Establishment
Su Wine Group
Trade Co.Ltd.Suqian
Jiangsu
province
Suqian Jiangsu
province
Commerce 83.63% 16.37% Establishment
Wuxi Huaqu Wine
Development
Co.Ltd.
Wuxi Jiangsu
province
Wuxi Jiangsu
province
Commerce 100.00% Establishment
Taizhou Huaqu
Wine Development
Co.Ltd.
Taizhou
Jiangsu
province
Taizhou Jiangsu
province
Commerce 100.00% Establishment
Jiangsu Huaqu
Wine Group
Nantong Co.Ltd.Nantong
Jiangsu
province
Nantong Jiangsu
province
Commerce 100.00% Establishment
Jiangsu Huaqu
Wine Group
Suzhou Co.Ltd.Suzhou
Jiangsu
province
Suzhou Jiangsu
province
Commerce 100.00% Establishment
Jiangsu Huaqu
Wine Group
Yancheng Co.Ltd.Yancheng
Jiangsu
province
Yancheng
Jiangsu province
Commerce 100.00% Establishment
Jiangsu Yanghe
Liquor Operation
Mangement
Co.Ltd.
Suqian
Jiangsu
province
Suqian Jiangsu
province
Commerce 100.00% Establishment
Jiangsu
Shuanggou Liquor
OperationCo.Ltd.Sihong
Jiangsu
province
Sihong Jiangsu
province
Commerce 100.00% Establishment
Jiangsu Dongdi
Union International
Trade Co.Ltd.Suqian
Jiangsu
province
Suqian Jiangsu
province
Commerce 100.00% Establishment
Jiangsu
Dongdixinghui
International Trade
Co.Ltd.
Suqian
Jiangsu
province
Suqian Jiangsu
province
Commerce 100.00% Establishment
Suqian Blue Dream
Trade Co.Ltd.Suqian
Jiangsu
province
Suqian Jiangsu
province
Commerce 100.00% Establishment
Siyang Lantu
Liquor
OperationCo.Ltd.Siyang
Jiangsu
province
Siyang Jiangsu
province
Commerce 100.00% Establishment
JSSJ Industry(HK) Holdings
Co. Limited
Hong Kong
China
Hong Kong
China
CORP 100.00% Establishment
Hubei Lihuacun
Trade Co.Ltd.Shiyan Hubei
province
Yunxian Hubei
province
Commerce 100.00% Establishment
Jiangsu
Shuanggou
Distillery Stock Co.
Ltd.Sihong
Jiangsu
province
Sihong Jiangsu
province
Liquor
manufacture
and sales
99.99% 0.01%
Business
combinations
involving
enterprises not
under common
control
Sihong Shuanggou
Antai Waste
Recycling Co.Ltd.Sihong
Jiangsu
province
Sihong Jiangsu
province
Waste material
recycle
100.00%
Business
combinations
involving
enterprises not
under common
control
Hubei Lihuacun
Liquor Industry
Co.Ltd.
Shiyan Hubei
province
Yunxian Hubei
province
Process liquor
wine and fruit
wine
100.00%
Business
combinations
involving
enterprises not
under common
control
Ningxiang Ningxiang Ningxiang Hunan Manufacture 100.00% Business
Miluochun Liquor
Industry Co.Ltd.Hunan
province
province and sale of
liquor and
compound wine
combinations
involving
enterprises not
under common
control
Harbin Binzhou
Brewery Co.Ltd.
Binxian
Heilongjiang
province
Binxian
Heilongjiang
province
Liquor-making 100.00%
Business
combinations
involving
enterprises not
under common
control
Su Wine Group
Jiangsu Wealth
Management
Co.Ltd.
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Assets/investme
nt management
information
consultation
100.00% Establishment
Ningxiang
Miluochun Trade
Co.Ltd.
Ningxiang
Hunan
province
Ningxiang Hunan
province
Commerce 100.00% Establishment
Jinagsu Kelite
Biology Technology
Research Institute
Co.Ltd.
Suqian
Jiangsu
province
Suqian Jiangsu
province
Biological
engineering
research
enzyme
preparation
research and
technology
transfer
100.00% Establishment
Suqian Sky Blue
Trade Co.Ltd.Suqian
Jiangsu
province
Suqian Jiangsu
province
Commerce 100.00% Establishment
Shiyan Yunyang
Lihuacun Package
Service Co.Ltd.Shiyan Hubei
province
Shiyan Hubei
province
Liquor
compound wine
health wine
packaging
service
100.00% Establishment
Jiangsu Lion and
Sheep Network
Technology
Co.Ltd.
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Network
technology
development
technical
consultation
technical
services;
Software
development
100.00% Establishment
Jiangsu Zhaiugou
E-commerce
Co.Ltd
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Commerce 100.00%
Business
combinations
involving
enterprises not
under common
control
NanjingTongmeng
City Logistics
Co.Ltd.
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Freight
Transport
Warehouse
service
99.99%
Business
combinations
involving
enterprises not
under common
control
Nanjing Jinling
Tongmeng City
Logistics Co.Ltd.Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Huaian Tongmeng
City Logistics
Co.Ltd.
Huaian
Jiangsu
province
Huaian Jiangsu
province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Changzhou
Jiezzhong
Changzhou
Jiangsu
Changzhou
Jiangsu province
Freight
Transport
51.00%
Business
combinations
Tongmeng City
Logistics Co.Ltd.province Warehouse
service
involving
enterprises not
under common
control
Nantong
Tongmeng City
Logistics Co.Ltd.Nantong
Jiangsu
province
Nantong Jiangsu
province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Suzhou Tongmeng
City Logistics
Co.Ltd.
Suzhou
Jiangsu
province
Suzhou Jiangsu
province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Taizhou Tongmeng
City Logistics
Co.Ltd.
Taizhou
Jiangsu
province
Taizhou Jiangsu
province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Wuxi Tongmeng
City Logistics
Co.Ltd.
Wuxi Jiangsu
province
Wuxi Jiangsu
province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Yancheng
Tongmeng City
Logistics Co.Ltd.Yancheng
Jiangsu
province
Yancheng
Jiangsu province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Zhenjiang
Tongmeng City
Logistics Co.Ltd.Zhenjiang
Jiangsu
province
Zhenjiang
Jiangsu province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Yangzhou
Tongmeng City
Logistics Co.Ltd.Yangzhou
Jiangsu
province
Yangzhou
Jiangsu province
Freight
Transport
Warehouse
service
53.00%
Business
combinations
involving
enterprises not
under common
control
Suqian Tongmeng
City Logistics
Co.Ltd.
Suqian
Jiangsu
province
Suqian Jiangsu
province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Pizhou Tongmeng
City Logistics
Co.Ltd.
Xuzhou
Jiangsu
province
Xuzhou Jiangsu
province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Lianyungang
Huaxing Tongmeng
City Logistics
Co.Ltd.
Lianyungang
Jiangsu
province
Lianyungang
Jiangsu province
Freight
Transport
Warehouse
service
51.00%
Business
combinations
involving
enterprises not
under common
control
Jiangsu Zhaibianli
E-commerce
Co.Ltd
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Commerce 100.00%
Business
combinations
involving
enterprises not
under common
control
Hongkong
Zhaiugou
International Trade
Co.Ltd
Hong
KongChina
Hong KongChina Commerce 100.00%
Business
combinations
involving
enterprises not
under common
control
Guizhou Guijiu
Co.Ltd.
Guiyang
Guizhou
province
Guiyang Guizhou
province
Liquor
production;
Liquor and
alcohol sales
100.00%
Business
combinations
involving
enterprises not
under common
control
Guizhou Guijiu
Liquor Operation
Management
Co.Ltd.
Guiyang
Guizhou
province
Guiyang Guizhou
province
Commerce 100.00% Establishment
Guizhou Guijiu
Trade Co.Ltd.Guiyang
Guizhou
province
Guiyang Guizhou
province
Commerce 100.00% Establishment
Guizhou Guijiu
Package Co.Ltd.Guiyang
Guizhou
province
Guiyang Guizhou
province
Guijiu series
liquor
compound wine
health care wine
packaging
100.00% Establishment
ZYG E-Commerce
HK Limited
Hong
KongChina
Hong KongChina
Industrial
investment
100.00%
Business
combinations
involving
enterprises not
under common
control
ZYG LTD
Cayman
Islands
Cayman Islands
Industrial
investment
69.08%
Business
combinations
involving
enterprises not
under common
control
YangHe
International
Investment Ltd
British Virgin
Islands
British Virgin
Islands
Industrial
investment
100.00% Establishment
Jiangsu
Shuanggou
Healthy Liquor
Research institute
Co.Ltd.
Suqian
Jiangsu
province
Suqian Jiangsu
province
Healthy wine
nutrition and
health food
research and
development
100.00% Establishment
ZYG Technology
Investment Ltd
British Virgin
Islands
British Virgin
Islands
Industrial
investment
71.03%
Business
combinations
involving
enterprises not
under common
control
Jiangsu Blue
Dream E-
commerce Co.Ltd.Suqian
Jiangsu
province
Suqian Jiangsu
province
Commerce 100.00% Establishment
Jiangsu Yanghe
Weiketang Network
Technology
Co.Ltd.
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Network
technology
development
technical
consultation
technical servic
100.00% Establishment
Guizhou Welcome
Drink Stock Co.
Ltd.Renhuai
Guizhou
province
Renhuai Guizhou
province
Liquor
manufacture
and sales
100.00%
Business
combinations
involving
enterprises not
under common
control
Suqian Su Wine
Logistics Co.Ltd.Suqian
Jiangsu
province
Suqian Jiangsu
province
Road general
cargo transport
cargo
100.00% Establishment
distribution
freight forwarder
Yanghe Chile SPA
Santiago
Chile
Santiago Chile
Movable and
real estate
investment
services
building
construction
services
100.00% Establishment
Jiangsu Yanghe
Investment
Management
Co.Ltd.
Suqian
Jiangsu
province
Suqian Jiangsu
province
Foreign
investment
Asset
management
Investment
consulting
50.00% 50.00% Establishment
Su Wine Group
Nanjing Operation
Management
Co.Ltd.
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Enterprise
management
consulting;
Industrial
investment;
Food sales; Gift
sales; House
lease; Hotel
management
100.00% Establishment
Jiangsu Zhongshiji
liquor Co.Ltd.Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Food sales Gift
sales
100.00% Establishment
Yanghe Hong Kong
DistilleryCo. Ltd.
Hong
KongChina
Hong KongChina
Industrial invest
ment
100.00% Establishment
iangsu Yanghe
Calligraphy and
Painting Academy
Nanjing
Jiangsu
province
Nanjing Jiangsu
province
Painting and
calligraphy
creation
exhibition;Acade
mic
research;Public
art
education;Cultur
al and creative
products
development
and promotion
100.00% Establishment
The shareholding ratio in the subsidiary is different from the voting ratio:
The basis for holding half or less of the voting rights but still controlling the invested entity
and for holding more than half of the voting rights but not controlling the invested entity:
For important structural subjects included in the scope of merging the basis of control:
Basis for determining whether the company is an agent or a principal:
Other statements:
2. Interests in associates and a joint venture
(1) The impact of the Group’s associates on the Group is not significant.
Summarized information is as follows:
Unit: CNY
Closing balance/amount in
current period
Opening balance/amount in
previous period
Associates: -- --
Aggregated carrying amount of
investments
10261147.01 10521622.18
Aggregate of the following items
calculated in proportion to shareholding
-- --
--Net profit -658669.17 -6220574.92
--Other comprehensive income -342416.50 178619.29
-- Total comprehensive income -1001085.67 -6041955.63
Joint ventures: -- --
Aggregated carrying amount of
investments
19267230.15 14840029.20
Aggregate of the following items
calculated in proportion to shareholding
-- --
--Net profit 4599489.64 1773286.58
-- Total comprehensive income 4599489.64 1773286.58
X. Risks related to financial instruments
The Group is exposed to various financial risks in the ordinary course of business mainly
including: credit risk liquidity risk market risk etc. The Company's management is fully
responsible for the formulation of risk management objectives and policies and takes
responsibility for risk management objectives and policies. The objective of the
Company’s risk management is to identify and analysis risk minimizing the adverse
impact of financial risks without excessive influence on the company's competitiveness
and resilience.
1. Credit risks
Credit risk refers to the risk that one party of the financial instruments fails to perform its
obligations and causes the financial losses of the other party. Credit risk mainly related to
notes receivables and accounts receivable in order to control the risk the Company
takes the following measures:
(1)Bank deposit
The company's bank deposits are mainly deposited in state-owned holding banks large
and medium-sized listed banks and other commercial banks with high credit. There is no
significant credit risk and no significant loss caused by default.
(2)Notes receivables and accounts receivables
The Company mainly trades with dealers according to company credit policyand adopts
the way of delivery after the payments finished. For some group purchase business it
only deals with the reputable group clients and continuously monitors the balance of
notes receivables and accounts receivables as a result there is no collateral required
and credit risk management concentrates on the clients. The balance of notes
receivables and accounts receivables are small till 31 December 2020. The Company
does not hold any collateral or other credit enhancement for the balance of accounts
receivables.
(3) Other receivable
The other receivables are mainly saving deposits involving infringement dispute deposits
and petty cash employee business loan and so on. The Company manages other
receivables and continuously monitors its balance to ensure the Company not to face
significant bad debt risks.
2. Liquidity risk
Liquidity risk refers to the risk of capital shortage when enterprise performs its obligations
related to financial liabilities. The Company uses various financing methods such as bill
clearing and bank loan to optimize the financing structure and maintain the balance
between financing continuity and flexibility.
The maturity of the financial liabilities held by the Company according to the
undiscounted remaining contractual obligations is analyzed as follows:
Item Closingbalance
Within 1 year 1-2 years 2-3 years Over 3 years Total
Account
payables
1151871136.29 1151871136.29
Other payables 1556699290.45 1556699290.45
Long-term loan 36360.00 36360.00
Long-term
payables
197049341.93 197049341.93
(Continued)
Item Openingbalance
Within 1 year 1-2 years 2-3 years Over 3 years Total
Account
payables
1330649116.82 1330649116.82
Other payables 3962515639.56 3962515639.56
Long-term loan 72723.00 72723.00
Long-term
payables
197623728.85 197623728.85
3. Market risk
Market risk is the fair value of financial instrument or future cash flow fluctuates due to
the fluctuation of market price and it mainly includes: interest rate risk foreign exchange
risk etc.
(1) Interest rate risk
Interest rate risk refers to the fair value of financial instrument or future cash flow
fluctuates due to the fluctuation of interest rate. The Company faces the risk of market
interest rate change mainly related to the Company's borrowing limit.
(2) Foreign exchange risk
Foreign exchange risk arises from fluctuation in exchange rate relevant to the assets
and liabilities in foreign currency. The less import and export business happened the
lower impact of exchange rate fluctuation on company's operation.The amount in CNY of the Company’s assets and liabilities shown in foreign currencies
as follows:
Item Closing balance Opening balance
Balance in
foreign
currency
Exchange
rate
Balance in
CNY
Balance in
foreign
currency
Exchange
rate
Balance in CNY
Cash and
cash
equivalents
Include: USD 1470471.60 6.5249 9594680.17 5851102.50 6.9762 40818461.26
HKD 46702.46 0.84164 39306.66 2267649.63 0.89578 2031315.19
CLP 60178014.00 0.009181 552494.35 2259388389.
00
0.0092599 20921642.76
Other
receivables
Include: USD
HKD 125679.16 0.84164 105776.61 472381.42 0.89578 423149.83
Account
payables
Include: USD 499163.86 6.5249 3256994.27
CLP 35950.00 0.009181 330.06
Other
payables
Include: HKD 1542853.06 0.84164 1298526.85 1465427.84 0.89578 1312700.95
CLP 14000.00 0.009181 128.53 14000.00 0.0092599 129.64
Net amount 5736278.08 62881738.45
XI.Fair value disclosure
1.Fair value of assets and liabilities measured at fair value as
at the end of the period
Unit: CNY
Item
Closing fair value
Within Level 1 of
the fair value
hierarchy
Within Level 2 of
the fair value
hierarchy
Within Level 3 of
the fair value
hierarchy
Total
Disclosure of
continuous
measurement at fair
value
-- -- -- --
(1)Debt instrument
investment
16148969442.65 16148969442.65
(2)Equity instrument
investment
334393926.45
1748210516.9
9
2437363244.89 4519967688.33
Total assets
continuously measured
at fair value
334393926.45
1748210516.9
9
18586332687.54 20668937130.98
Disclosure of
discontinuous
measurement at fair
value
-- -- -- --
2.Determination basis of the market value of items measured
continuously and discontinuously within Level 1 of the fair value
hierarchy
Local open market closing price
3.Items measured continuously and discontinuously within Level 2 of
the fair value hierarchy valuation technique adopted and quantitative
and qualitative information of important parameters
The fair value is assessed on the basis of open market transaction prices and taking into account
liquidity
4.Items measured continuously and discontinuously within Level 3 of
the fair value hierarchy valuation technique adopted and quantitative
and qualitative information of important parameters
Debt instrument investment:the expected rate of return is taken as an important reference to evaluate
its fair value
Equity instrument investment: the cost or the ending net assets of the invested entity is taken as an
important reference to evaluate its fair value
XII. Related parties and related party transactions
1. The parent company of the Company
Name of parent
company
Registration place Business nature
Registered
capital
Shareholding
ratio by the
parent company
Voting
Ratio by
the parent
company
Jiangsu Yanghe
Group Co.Ltd.Suqian Jiangsu
Sales of brewing
machinery
equipment export
of liquor import of
various raw and
auxiliary materials
equipment and
accessories
required for
production
industrial
investment.
CNY 500
million
34.16% 34.16%
Information about the Company’s parent company
The final control party of the Company is State-owned Assets Supervision and
Administration Commission of Suqian.
Other statements:
2. Subsidiaries of the Company:
The information about the subsidiaries of the Company refers to Note IX.1 Interests in
Subsidiaries.
3. Joint venture and associate of the Company
The information about the joint venture and associate of the Company refers to the Note
IX.2
Other joint ventures and associates whose related party transactions with the Company
in the current period or balance formed from related party transactions with the Company
in the prior period as follows:
Name of joint venture and associate Relationship with the Company
Diageo International Spirits Company Limited Joint Venture
Jiangsu Su Wine Cultural Transmission Co.Ltd. Associate
Nanjing Hesong Culture Technology Co.Ltd. Associate
Jiangsu Xinghe Investment Management Co.Ltd. Associate
Other statements:
4. Other related party
Name of other related party Relationship with the Company
Shanghai Haiyan Logistics Development Co.Ltd. Holding 9.67% shares
VSPT Vi?a San Pedro Tarapacá S.A.Joint stock company holding 12.50%
shares
Jiangsu Diageo Wine Co. LTD
Controlled by Diageo International Spirits
Company Limited joint venture of Company
5. Related party transactions
(1) Related transactions of purchase of goods / supply and receipt of labor
services
Table of purchase of goods / Receipt of labor services
Unit: CNY
Related Party
Transaction
Content
Amount in
current period
Approved
transaction
amount
Whether it is
over transaction
amount or not
Amount in
previous period
VSPT Vi?a San
Pedro Tarapacá
S.A
Red wine 6235323.42
22491676.
84
No 22491676.84
Nanjing Hesong
Culture
Technology
Co.Ltd.
Advertising and
general publicity
expense
8416890.42
26877500.
00
No
26877500.00
Jiangsu Diageo
Wine Co. LTD
Liquor 5308792.27
9426504.9
6
No
9426504.96
Table of sales of goods/ rendering of labor services
Unit: CNY
Related party Transaction content
Amount in current
period
Amount in previous
period
Shanghai Haiyan Logistics
Development Co.Ltd.
Sales of liquor 4354544.40 21940314.79
Jiangsu Su Wine Cultural
Transmission Co.Ltd.Sales of liquor 30058725.66 27033928.43
Jiangsu Diageo Wine Co. Ltd Sales of liquor 4097463.51 11451243.61
Nanjing Hesong Culture
Technology Co.Ltd.
Consulting fee income 967085.23
Jiangsu Diageo Wine Co.
LTD
Consulting fee income 673267.32 165048.55
Jiangsu Xinghe Investment
Management Co.Ltd.
Consulting fee income 2184466.02
Description of related transactions in the purchase and sale of goods provision and
receipt of services
(2) Related partylease
The Company asa lessor
Unit: CNY
Related party Types of Leased Assets
Amount in current
period
Amount in previous
period
The Company as a lessee
Unit: CNY
Related party Types of Leased Assets
Amount in current
period
Amount in previous
period
Jiangsu Yanghe Group
Co.Ltd.
House 201834.86
(3) Compensation for key managers
Item Amount in current period Amount in previous period
6. Receivables and payables of related parties
(1) Receivables
Unit: CNY
Item Related party
Closing balance Opening balance
Book balance
Provision for bad
debt
Book balance
Provision for bad
debt
Receivables
Jiangsu Diageo
Wine Co. Ltd.
8231298.10 246938.94
(2)Payables
Unit: CNY
Item Related party
Closing
balance
Opening
balance
Contract liabilities
Shanghai Haiyan Logistics Development
Co.Ltd.
6396586.54 3057658.65
Contract liabilities Jiangsu Su Wine Cultural Transmission Co.Ltd. 7523939.23 7078584.07
Accounts payables Jiangsu Diageo Wine Co. Ltd. 255806.65
Other Payables
Shanghai Haiyan Logistics Development
Co.Ltd.
83531.60 83709.60
Other Payables Jiangsu Su Wine Cultural Transmission Co.Ltd. 940228.00 900000.00
XIII. Commitments and contingencies
1. Significant commitments
Significant commitments existing on the balance sheet date
By the end of 31 December 2020 there were no significant commitments needed to be
disclosed.
2. Contingencies
(1)Significant contingencies at the balance sheet date:
Regarding the tort liability dispute case of ICBC Zhengzhou Jiefang Road Branch Su
Wine Group Trade Co. Ltd. applied for a claim requesting the defendant to jointly and
severally compensate the plaintiff with CNY 46025000.00 of principal and interest loss
during the deposit period (The interest loss is based on CNY 103250000.00 and it is
calculated from 21 May 2014 according to the loan interest rate of the People's Bank of
China in the same period and the same file. Among those CNY 18257000.00 is
calculated till 8 September 2017 CNY 38968000.00 is calculated till 13 December 2017
and CNY 46025000.00 is calculated till the actual date of payment).
According to the Civil Judgment of Suqian Intermediate People's Court of Jiangsu
Province the defendant was liable for compensation of 70% of the total loss and the
defendant was ordered to pay the plaintiff Su Wine Group Trade Co. Ltd. loss of interest
(the calculation method of interest: the interest rate standard is calculated according to
the one-year fixed deposit interest rate on the day of 21 May 2013 of the Industrial and
Commercial Bank of China Zhengzhou Jiefang Road Branch where CNY 90 million is
the principal from 21 May 2013 to 7 September 2017; CNY 71.7433 million is calculated
from 8 September 2017 to 12 December 2017; CNY 32.7775 million is calculated from 13
December2017to the date of actual payment. The sum of the interest calculated above is
multiplied by 70%.)
Su Wine Group Trade Co. Ltd. dissatisfied with the above judgment and has appealed to
the Jiangsu Provincial Higher People's Court. On 25 July 2019 Jiangsu Provincial Higher
People's Court (2019) Su Min Zhong No. 1157 "Notice of Acceptance of the Case" was
received. The case is in the process.
Except for the above event by the end of 31 December 2020 the Company had no other
significant contingencies required to be disclosed.
(2)If no contingencies that need to be disclosed statement should be made.
The Company has no material contingencies to disclose.XIV. Post balance sheet event
1.The distribution of profits
Unit: CNY
Profits or dividends planed to be distributed 28279648717.65
Profits or dividends declared to be paid after
examination and approval
4491980070.00
2.Other notes to post balance sheet event
On 11 March 2021 Guizhou GuijiuGroup Co. Ltd. a Company’s subsidiary (hereinafter
referred to as GuijiuCompany) received court summonsissued by the people's court from
Xiuwen County in Guizhou province. The case number is(2021) Qian 0123 No.949 and
the civil complaint is about Guizhou Construction Engineering Group Eighth Construction
Engineering Co. Ltd. suing Guizhou GuijiuGroup Co. Ltd.. The claims: (1) request that
the defendant be ordered to pay the plaintiff the construction cost amount of RMB
9537780.74 immediately and bear the overdue payment interest until the date of the
actual payment (the interest is based on RMB 9537780.74 and calculated according to
the standard interest rate of similar loans issued by the People's Bank of China for the
same period from 8 October 2018.The estimated amount is CNY 1395695.25 since
prosecution).(2) The litigation costs of this case shall be borne by the defendant.On June 2016 according to the acquisition agreement sigened by the Company(Party A)
and Guizhou Huixian Investment Management Co. Ltd. (Party B) Guijiu company (Party
C) Wang Xiaochun (Party D) any liabilities not included in the "List of Liabilities" arising
out of the facts prior to completion after the equity acquisition shall be borne by Party B. If
Party A and Party C bear the liabilities in advance Party B shall fully compensate for the
liabilities and Party D agrees to undertake joint and several liability for the
responsibilities and obligations that should be borne by Party B as mentioned above.The
matters involved in the above litigation are liabilities not included in the "List of Liabilities"
caused by the facts before the completion and shall be borne by Party B.
As of 27 April 2021 the Company has no other post balance sheet event that need to be
disclosed other than the above.
XV. Notes to main items of parent company financial statements
1. Accounts receivable
(1) Disclosure of accounts receivable by categories
Unit: CNY
Type
Closing balance Opening balance
Book balance Provision for bad debt
Book value
Book balance Provision for bad debt
Book value
Amount Proportion Amount
Proportion
of provision
Amount Proportion Amount
Proportion
of provision
Including:
Provision for bad debts
by portfolio
387657700.12 100.00% 387657700.12 900499168.05 100.00% 246938.94 0.03% 900252229.11
Including:
Risk portfolio 8231298.10 0.91% 246938.94 3.00% 7984359.16
Otherportfolio 387657700.12 100.00% 387657700.12 892267869.95 99.09% 892267869.95
Total 387657700.12 100.00% 387657700.12 900499168.05 100.00% 246938.94 0.03% 900252229.11
Provision for bad debts by individual
Unit: CNY
Name of client
Closing balance
Book balance Provision for bad debts Proportion Reason
Provision for bad debts by portfolio:other portfolio
Unit: CNY
Name of portfolio
Closing balance
Accounts receivables Provision for bad debt Proportion
Otherportfolio 387657700.12
Total 387657700.12 --
Notes to determine provision for bad debt by portfolio:
The Company classifies items without significant recovery risk receivables as other portfolio such as items from subsidiaries in the consolidation
scope tax refunds receivable collection and withholding of funds. There is no provision for bad debt for them.Provision for bad debts by portfolio:
Unit: CNY
Name of portfolio
Closing balance
Accounts receivables Provision for bad debt Proportion
Notes to determine provision for bad debt by portfolio:
If the Company uses the accounts receivable provision for bad debts according to the general model of expected credit loss please disclose the
relevant information of provision for bad debt by referring to the disclosure method of other receivables:
? Applicable √ N/A
Analysis by aging
Unit: CNY
Aging Closing balance
Within 1 year (including 1 year) 387657700.12
Total 387657700.12
(2)Provision for bad debts that is accrued recovered or reversed during this period
Provision for bad debts during current period
Unit: CNY
Category
Opening
balance
Changes in the current period
Closing
balance Provision
Recovered or
reversed
Write off Others
Provision for
bad debt for
Accounts
receivables
246938.94 246938.94
Total 246938.94 246938.94
Significant amount of reversal or recovery in current period:
Unit: CNY
Company name Amount recovered or reversed Ways of recovery
(3)Top five entities with the largest balances of the accounts receivables
Unit: CNY
Company’s name Closing balance
Proportion in the total
accounts’ receivables (%)
Provision amount
Jiangsu Shuanggou Distillery
Stock Co.Ltd.
132516166.33 34.18%
Hubei Lihuacun Liquor
Industry Co.Ltd.
127597734.21 32.92%
Siyang Lantu Liquor
Operation Co.Ltd.
71494537.45 18.44%
Jiangsu Yanghe Liquor
Operation Management
Co.Ltd.
46231563.47 11.93%
Ningxiang Miluochun Trade
Co.Ltd.
9817698.66 2.53%
Total 387657700.12 100.00%
2.Other receivables
Unit: CNY
Item Closing balance Opening balance
Dividend receivable 1775818203.33
Other receivables 8627951102.36 8154899373.55
Total 10403769305.69 8154899373.55
(1) Dividend receivable
Unit: CNY
Item Closing balance Opening balance
Jiangsu Shuanggou Distillery Stock Co.Ltd. 1775818203.33
Total 1775818203.33
(2) Other receivables
1) Disclosure of other receivable by categories
Unit: CNY
Nature of other receivables Closing balance Opening balance
Within the scope of consolidation the
subsidiary borrows
8625917478.43 8153014458.45
Cash deposit 15020000.00 15020000.00
Business loans and petty cash 1203377.75 3429429.04
Other receivables 3768716.91 3038490.82
Total 8645909573.09 8174502378.31
2) Provision for bad debt
Unit: CNY
Bad debts
Phase 1 Phase 2 Phase 3
Total Expected credit
losses in the next
12 months
Expected credit loss
for lifetime (No credit
loss occurred)
Expected credit
loss for lifetime
(Credit loss
occurred)
Balance as at 1
January 2020
67662.44 19535342.32 19603004.76
Change of opening
balance as at 1
January 2020 in
current period
—— —— —— ——
Provision in 2020 15343.33 15343.33
Reverse in 2020 1659877.36 1659877.36
Balance as at 31
December 2020
83005.77 17875464.96 17958470.73
Significant change of the book balance of provision during the period
? Applicable √ N/A
Other receivables by aging
Unit: CNY
Aging Closing balance
Within 1 year(including 1 year) 8614193810.38
1-2 years 8834302.50
2-3 years 1828000.00
Over 3 years 21053460.21
3-4 years 291400.00
4-5 years 41319.12
Over 5 years 20720741.09
Total 8645909573.09
3) Provision recovery or reversal for bad debt duringthis period
Provision for bad debtduring this period:
Unit: CNY
Category
Opening
balance
Changes in the current period
Closing balance
Provision
Recovered or
reversed
Write off
Other
changes
Provision for
other
receivables bad
19603004.76 15343.33 1659877.36 17958470.73
debt
Total 19603004.76 15343.33 1659877.36 17958470.73
Significant amount of reversal or recovery during this period:
Unit: CNY
Company name recovery or reversal Way of recovery
(4) Top five entities with the largest balances of the other receivables
Unit: CNY
Company’s Name Category Closing balance Aging
Proportion in total
receivables
Provisioning
amount at
period end
Jiangsu Yanghe
Investment
Management Co.Ltd.Loan
7640976249.1
5
With in 1 year
88.38%
Su Wine Group
Jiangsu Wealth
Management
Co.Ltd.
Loan 800000000.00 With in 1 year
9.25%
Guizhou Guijiu
Co.Ltd.
Loan 163469544.92 With in 1 year
1.89%
Jiangsu Juntai
Properties Co.Lt.Suqian Guotai
Department Store
Co.Ltd.
deposit 15000000.00 Over 5 years
0.17%
15000000.00
Hubei Lihuacun
Liquor Industry
CoLtd.
Loan 14177100.00
With in 1 year
460000.001-2
years
8830000.00 2-3
years
848000.00Over
3 years
4039100.00
0.16%
Total --
8633622894.0
7
--
99.85%
15000000.00
3. Long-term equity investments
Unit: CNY
Item
Closing balance Opening balance
Book balance
Impairment
provision
Book value Book balance
Impairment
provision
Book value
Investment in
subsidiaries
7964291378
.23
7964291378.
23
796429137
8.23
79642913
78.23
Total
7964291378
.23
7964291378.
23
796429137
8.23
79642913
78.23
(1) Investment in subsidiaries
Unit: CNY
Investee
Opening
balance
Increase in the current period
Closing
balance
Closing
balance of
provision
for
impairment
Increase Decrease
Provision
for
impairme
nt
Others
Suqian Yanghe
Guibinguan
700000.00 700000.00
Co.Ltd.
Jiangsu
Shuanggou
Distillery Stock
Co.Ltd.
1713152320
.00
171315232
0.00
Su Wine Trade
Group Co.Ltd.
285225078.2
3
285225078.
23
Jiangsu Yanghe
Liquor Operation
Managment
Co.Ltd
10983280.00
10983280.0
0
Jiangsu Dongdi
Union
International
Trade Co.Ltd.
5000000.00 5000000.00
Jiangsu
Dongdixinghui
International
Trade Co.Ltd
5000000.00 5000000.00
Siyang Lantu
Liquor Operation
Co.Ltd.
3161700.00 3161700.00
Hubei Lihuacun
Liquor Industry
Co.Ltd.
3000000.00 3000000.00
Ningxiang
Miluochun
Liquor Industry
Co.Ltd.
2129000.00 2129000.00
Harbin Binzhou
Brewery Co.Ltd.
2000000.00 2000000.00
Su Wine Group
Jiangsu Wealth
Management
Co.Ltd.
3000000000
.00
300000000
0.00
Jinagsu Kelite
Biology
Technology
Research
Institute Co.Ltd.
10000000.00
10000000.0
0
Jiangsu Lion and
Sheep Network
Technology
Co.Ltd.
5460000.00 5460000.00
Guizhou Guijiu
Co.Ltd.
943300000.0
0
943300000.
00
Jiangsu Yanghe
Weiketang
Network
Technology
Co.Ltd.
300000.00 300000.00
Yanghe Chile
SPA
456880000.0
0
456880000.
00
Jiangsu Yanghe
Investment
Management
Co. Ltd.
1500000000
.00
150000000
0.00
Yanghe Hong
Kong Liquor Co.Ltd.
18000000.00
18000000.0
0
Total
7964291378
.23
796429137
8.23
4. Operating revenue and cost of sales
Unit: CNY
Item
Current period Previous period
Operating revenue Cost of sales Operating revenue Cost of sales
Primary business 9161576332.09 4195871188.04 8802985205.67 4522356318.57
Other business 653598000.33 607411453.26 814151123.47 778500563.64
Total 9815174332.42 4803282641.30 9617136329.14 5300856882.21
Information relating to revenue
Unit: CNY
Contract type Division 1 Division 2 Total
Including:
Including:
Information relating to performance obligations
N/A
Information relating to the transaction price apportioned to the remaining performance
obligations:
At the end of this report the amount of revenue corresponding to the performance
obligations with the contracts signed but not performed or not performed is CNY
12161186226.79 of which CNY 10305933049.04 is expected to be recognized in
2021 and CNY 1855253177.75 is expected to be recognized in 2022. CNY 0.00 is
expected to be recognized as revenue in the year.
5. Investment income
Unit: CNY
Item Current period Previous period
Investment income from long-term equity
investments under the equity method
6249926000.50 6416968211.24
Investment income from disposing long-
term equity investments
27117336.74
Investment income from financial assets
held for trading during the holding period
6204748.21 6946070.62
Investment income from disposal of
financial assets held for trading
212610583.98 407441556.04
Total 6468741332.69 6858473174.64
XVI. Supplementary information
1. Detailed statement of non-recurring profits and losses
?Applicable √ N/A
Unit: CNY
Item Amount Notes
Profit or loss from disposal of non-
current assets
-4735638.66
Government grants accounted for in the
profit or loss for the current period
(except for the government grants
closely related to the business of the
98175595.19
Company and given at a fixed amount or
quantity in accordance with the state's
uniform standards)
In addition to the effective hedging
business related to the company's
normal business operations changes in
fair value from holding financial assets
held for trading derivative financial
assets financial liabilities held for
trading fair value changes and
investment income from disposal of
financial assets held for trading and
derivative financial assets financial
liabilities held for trading derivative
financial liabilities and other debt
investments
2356818184.75
Other non-operating income and
expenditure except above-mentioned
items
-11429697.22
Other profit and loss items that conform
to the definition of non-recurring profits
and losses
818031.70
Less: Effect of income tax 609395883.18
Effect of minority equity 90900.93
Total 1830159691.65 --
Statement for extraordinary gain and loss items that the Company defines according tothe definition in “Explanatory Announcement of Information Disclosure of Company thatIssues Securities publicly No.1- Extraordinary Gain and Loss” and definition of recurrentgain and loss items that are listed as extraordinary gain and loss in the “Explanatory
Announcement of Information Disclosure of Company that Issues Securities publicly
NO.1- Extraordinary Gain and Loss”:
? Applicable √ N/A
2. Return on equity and earnings per share
Profit during reporting period Weighted average ROE
EPS(CNY/Share)
Basic EPS Diluted EPS
Net profits attributable to
ordinary shareholders of the
Company
20.20% 4.9843 4.9843
Net profits attributable to
ordinary shareholders of the
Company after deduction of
extraordinary gain and loss
15.26% 3.7651 3.7651
3.Differences in accounting data under domestic and overseas
accounting standards
3.1. Differences in the net profits and net assets disclosed in the
financial reports prepared under the international and China accounting
standards
? Applicable √ N/A?
3.2. Differences in the net profits and net assets disclosed in the
financial reports prepared under the outbound and China accounting
standards
? Applicable √ N/A?
3.3. Explain the reasons for the differences in accounting data under
domestic and foreign accounting standards and indicate the name of
the overseas institution if the differences are adjusted for the data
audited by the overseas audit institution
4. Others
Section XIIIDocuments Available for Preference
1. Financial statements signed and stamped by the legal representative the person in
charge of accounting affairs and the person in charge of accounting department;
2. The original of the auditor’s report with the seal of the accounting firm and signed and
stamped by CPAs;
3. The originals of all company documents and announcements that are disclosed to the
public via media designated by CSRC during the reporting period;
4. The original of 2020 annual report signed by chairman.

洋河股份:关于举行2020年度业绩网上说明会的公告
深圳证券交易所 2021-05-15 08:00 | 下载

证券代码:002304 证券简称:洋河股份 公告编号:2021-022
江苏洋河酒厂股份有限公司
关于举行2020年度业绩网上说明会的公告
本公司及董事会全体成员保证信息披露的内容真实、准确和完整,没有虚假记载、误导性陈述或重大遗漏。
江苏洋河酒厂股份有限公司(以下简称“公司”)定于 2021 年 5 月
21 日(星期五)9:30 至 11:30 在全景网举行 2020 年度业绩说明会,本次年度业绩说明会将采用网络远程的方式举行,投资者可登陆全景网“投资者关系互动平台”(http://ir.p5w.net)参与本次年度业绩说明会。
出席本次说明会的人员有:董事长张联东先生,副董事长、总裁钟雨先生,董事、执行总裁刘化霜先生,副总裁、财务负责人尹秋明先生董事会秘书陆红珍女士。
为充分尊重投资者、提升交流的针对性,现就公司 2020 年度业绩说明会提前向投资者公开征集问题,广泛听取投资者的意见和建议。投资者可于2021年5月19日(星期三)17:00前访问http://ir.p5w.net/zj/,或扫描下方二维码,进入问题征集专题页面。公司将在 2020 年度业绩说明会上,对投资者普遍关注的问题进行回答。
欢迎广大投资者积极参与本次网上说明会。
(问题征集专题页面二维码)特此公告。
江苏洋河酒厂股份有限公司董事会
2021 年 5 月 15 日

洋河股份:2021年第一季度报告全文
深圳证券交易所 2021-04-29 08:00 | 下载

江苏洋河酒厂股份有限公司
2021 年第一季度报告
2021 年 04 月
第一节 重要提示
公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整,不存在虚假记载、误导性陈述或者重大遗漏,并承担个别和连带的法律责任。
所有董事均已出席了审议本次季报的董事会会议。
公司负责人张联东、主管会计工作负责人尹秋明及会计机构负责人(会计主管人员)赵其科声明:保证季度报告中财务报表的真实、准确、完整。
第二节 公司基本情况
一、主要会计数据和财务指标公司是否需追溯调整或重述以前年度会计数据
□ 是 √ 否
本报告期 上年同期 本报告期比上年同期增减
营业收入(元) 10520001017.41 9268167143.40 13.51%
归属于上市公司股东的净利润(元) 3862525751.53 4002168546.84 -3.49%归属于上市公司股东的扣除非经常性损
益的净利润(元)
3810668717.54 3201845555.14 19.01%
经营活动产生的现金流量净额(元) 2919559010.60 -328870647.68 987.75%
基本每股收益(元/股) 2.5796 2.6564 -2.89%
稀释每股收益(元/股) 2.5796 2.6564 -2.89%
加权平均净资产收益率 9.56% 11.15% -1.59%
本报告期末 上年度末本报告期末比上年度末增减
总资产(元) 55769965522.68 53866259306.59 3.53%
归属于上市公司股东的净资产(元) 42346188713.25 38484583983.54 10.03%非经常性损益项目和金额
√ 适用 □ 不适用
单位:元
项目 年初至报告期期末金额 说明
非流动资产处置损益(包括已计提资产减值准备的冲销部分) -5060225.32计入当期损益的政府补助(与企业业务密切相关,按照国家统
一标准定额或定量享受的政府补助除外)
15555338.79
除同公司正常经营业务相关的有效套期保值业务外,持有交易性金融资产、衍生金融资产、交易性金融负债、衍生金融负债产生的公允价值变动损益,以及处置交易性金融资产、衍生金融资产、交易性金融负债、衍生金融负债和其他债权投资取得的投资收益
61698900.34
除上述各项之外的其他营业外收入和支出 -3044828.07
减:所得税影响额 17290788.11
少数股东权益影响额(税后) 1363.64
合计 51857033.99 --
对公司根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义界定的非经常性损益项目,以及把《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》中列举的非经常性损益项目界定为经常性损益的项目,应说明原因
□ 适用 √ 不适用
公司报告期不存在将根据《公开发行证券的公司信息披露解释性公告第 1 号——非经常性损益》定义、列举的非经常性损益项目界定为经常性损益的项目的情形。
二、报告期末股东总数及前十名股东持股情况表
1、普通股股东总数和表决权恢复的优先股股东数量及前 10名股东持股情况表
单位:股
报告期末普通股股东总数 136216报告期末表决权恢复的优先股股
东总数(如有)
0
前 10 名股东持股情况
股东名称 股东性质 持股比例 持股数量持有有限售条件的股份数量质押或冻结情况
股份状态 数量江苏洋河集团有限公司
国有法人 34.16% 514858939 0江苏蓝色同盟股份有限公司
境内非国有法人 19.55% 294591926 249480000上海海烟物流发展有限公司
国有法人 9.67% 145708137 0上海捷强烟草糖酒(集团)有限公司
国有法人 3.96% 59744099 0香港中央结算有限公司
境外法人 3.24% 48870200 0中国银行股份有
限公司-招商中证白酒指数分级证券投资基金
其他 2.29% 34482744 0中国银行股份有
限公司-易方达蓝筹精选混合型证券投资基金
其他 1.66% 25000195 0中国证券金融股份有限公司
境内非国有法人 0.92% 13790044 0中国银行股份有
限公司-易方达中小盘混合型证
其他 0.58% 8700000 0
券投资基金
中国银行-华夏回报证券投资基金
其他 0.45% 6838219 0
前 10 名无限售条件股东持股情况
股东名称 持有无限售条件股份数量股份种类
股份种类 数量
江苏洋河集团有限公司 514858939 人民币普通股 514858939
上海海烟物流发展有限公司 145708137 人民币普通股 145708137
上海捷强烟草糖酒(集团)有限公司
59744099 人民币普通股 59744099
香港中央结算有限公司 48870200 人民币普通股 48870200
江苏蓝色同盟股份有限公司 45111926 人民币普通股 45111926
中国银行股份有限公司-招商中证白酒指数分级证券投资基金
34482744 人民币普通股 34482744
中国银行股份有限公司-易方达蓝筹精选混合型证券投资基金
25000195 人民币普通股 25000195
中国证券金融股份有限公司 13790044 人民币普通股 13790044
中国银行股份有限公司-易方达中小盘混合型证券投资基金
8700000 人民币普通股 8700000
中国银行-华夏回报证券投资基金
6838219 人民币普通股 6838219上述股东关联关系或一致行动的说明不适用
前 10 名股东参与融资融券业务情
况说明(如有)无
公司前 10 名普通股股东、前 10 名无限售条件普通股股东在报告期内是否进行约定购回交易□ 是 √ 否
公司前 10 名普通股股东、前 10 名无限售条件普通股股东在报告期内未进行约定购回交易。
2、公司优先股股东总数及前 10名优先股股东持股情况表
□ 适用 √ 不适用
第三节 重要事项
一、报告期主要财务数据、财务指标发生变动的情况及原因
√ 适用 □ 不适用
(1)应收票据期末余额比年初下降96.12%,主要系上年度收取经销商的银行承兑汇票本期到期兑付或贴现所致。
(2)应收账款期末余额比年初增长59.71%,主要系本期末应收电商货款增加所致。
(3)预付款项期末余额比年初增长262.70%,主要系本期末预付广告费和预付货款增加所致。
(4)递延所得税资产期末余额比年初增长36.67%,主要系本期末应付经销商尚未结算的折扣增加,确认的递延所得税资产相应增加所致。
(5)应付票据期末余额比期初增长100%,主要系本期申请开具银行承兑汇票增加所致。
(6)应付职工薪酬期末余额比年初下降73.09%,主要系上年末计提的年终奖本期发放所致。
(7)应交税费期末余额比年初增长58.68%,主要系本期销售收入比上年同期增长,应交消费税、增值税及附加增加所致。
(8)其他流动负债期末余额比年初下降71.17%,主要系期末合同负债余额下降,待转销增值税减少所致。
(9)研发费用本期发生额比上年同期增长55.62%,主要系本期研发项目投入增加所致。
(10)财务费用本期发生额比上年同期下降38.11%,主要系本期银行存款利息收入增加,财务费用发生额相应下降所致。
(11)投资收益本期发生额比上年同期下降49.12%,主要系本期理财收益减少所致。
(12)公允价值变动收益本期发生额比上年同期下降111.88%,主要系本期交易性金融资产产生的公允价值变动收益下降所致。
(13)营业外支出本期发生额比上年同期下降48.90%,主要系上年同期疫情捐赠支出增加所致。
(14)少数股东损益本期发生额比上年同期增长248.59%,主要系本期控股子公司净利润增长所致。
(15)经营活动产生的现金流量净额本期比上年同期增长987.75%,主要系本期销售收入增长,经营活动流入现金增加所致。
(16)投资活动产生的现金流量净额本期比上年同期下降9008.23%,主要系本期投资活动现金流入减少额大于投资活动现金流出减少额所致。
(17)筹资活动产生的现金流量净额本期比上年同期下降100%,主要系上期股份回购支付的现金增加所致。
(18)现金及现金等价物净增加额本期比上年同期增长86.80%,主要系本期经营活动产生的流量净额比上期增加所致。
二、重要事项进展情况及其影响和解决方案的分析说明
□ 适用 √ 不适用股份回购的实施进展情况
□ 适用 √ 不适用采用集中竞价方式减持回购股份的实施进展情况
□ 适用 √ 不适用
三、公司实际控制人、股东、关联方、收购人以及公司等承诺相关方在报告期内超期未履行完毕的承诺事项
□ 适用 √ 不适用
公司报告期不存在公司实际控制人、股东、关联方、收购人以及公司等承诺相关方在报告期内超期未履行完毕的承诺事项。
四、金融资产投资
1、证券投资情况
√ 适用 □ 不适用
单位:元证券品种证券代码证券简称最初投资成本会计计量模式期初账面价值本期公允价值变动损益计入权益的累计公允价值变动本期购买金额本期出售金额报告期损益期末账面价值会计核算科目资金来源境内外股票
601696中银证券
300000
000.00公允价值计量
17482
10516.
99
-34610
5261.3
1
-34610
5261.3
1
14021
05255.
68其他非流动金融资产自有资金信托产品无中航信托天玑
汇财 3号债券投资集合资金信托计划
10000
00000.
00公允价值计量
10346
575.34
10000
00000.
00
10346
575.34
10103
46575.
34交易性金融资产自有资金信托产品无民生信托中民
永丰 1号集合资金信托计划
600000
000.00公允价值计量
600784
109.59
78410
95.89
78410
95.89
608625
205.48交易性金融资产自有资金信托产品无民生信托中民
永丰 1号集合资金信托计划
500000
000.00公允价值计量
509674
657.53
69657
53.43
69657
53.43
516640
410.96交易性金融资产自有资金信托产品无中航信托天玑
汇财 3号债券投资集合资金信托计划
500000
000.00公允价值计量
507421
917.81
53013
69.86
53013
69.86
512723
287.67交易性金融资产自有资金
信托产品无中融信托汇聚
金 1 号货币基金集合资金信托计划
500000
000.00公允价值计量
500000
000.00
75205
47.95
75205
47.95
507520
547.95交易性金融资产自有资金信托产品无中融信托汇聚
金 1 号货币基金集合资金信托计划
500000
000.00公允价值计量
500000
000.00
74369
86.30
74369
86.30
507436
986.30交易性金融资产自有资金信托产品无中航信托天玑
汇财 3号债券投资集合资金信托计划
500000
000.00公允价值计量
500000
000.00
73760
27.40
73760
27.40
507376
027.40交易性金融资产自有资金信托产品无中航信托天玑
汇财 3号债券投资集合资金信托计划
500000
000.00公允价值计量
500685
616.44
56095
89.04
56095
89.04
506295
205.48交易性金融资产自有资金信托产品无陕国投
汇钰 1号现金管理集合资金信托计划
500000
000.00公允价值计量
60671
23.29
500000
000.00
60671
23.29
506067
123.29交易性金融资产自有资金期末持有的其他证券投资
10149
264387
.69
--
118328
84036.
98
185048
557.53
17944
00000.
00
33109
80924.
36
180365
713.35
10501
166468
.34
-- --合计
15549
264387
--
17199
660855
-96591
635.28
0.00
32944
00000.
33109
80924.
-10127
4479.4
17086
303093
-- --
.69 .34 00 36 6 .89证券投资审批董事会公告披露日期
2020 年 04 月 29 日证券投资审批股东会公告披露日期(如有)
2020 年 05 月 23 日
2、衍生品投资情况
□ 适用 √ 不适用公司报告期不存在衍生品投资。
五、募集资金投资项目进展情况
□ 适用 √ 不适用
六、对 2021 年 1-6 月经营业绩的预计预测年初至下一报告期期末的累计净利润可能为亏损或者与上年同期相比发生大幅度变动的警示及原因说明
□ 适用 √ 不适用
七、日常经营重大合同
□ 适用 √ 不适用
八、委托理财
√ 适用 □ 不适用
单位:万元
具体类型 委托理财的资金来源 委托理财发生额 未到期余额 逾期未收回的金额
信托理财产品 自有资金 1259041 1255642 0
银行理财产品 自有资金 665985 615985 0
合计 1925026 1871627 0
单项金额重大或安全性较低、流动性较差、不保本的高风险委托理财具体情况√ 适用 □ 不适用
单位:万元受托机构名称
(或受托人姓受托机构
(或受托
人)类型产品类型金额资金来源起始日期终止日期资金投向报酬确定方式参考年化收益率预期收益
(如有报告期实际损益金额报告期损益实际收回情况计提减值准备金额
(如有)是否经过法定程序未来是否还有委托理财计划事项概述及相关查询索
引(如名) 有)中航信托信托中航信
托-天启
【2018
】561号宝华壹号集合资金信托计划
16000自有资金
2019
年 08
月 02日
2021
年 08
月 01日用于向深圳市钜盛华股份有限公司发放贷款,用于补充公司流动性资金缺口;支付广州空港高端仓储项目工程施工款。
现金
9.40% 3008
2501.
17
370.85 0 是 是重庆信托信托重庆信
托-姑
苏 2 号集合资金信托计划
(第五期 )
5696.
59自有资金
2019
年 08
月 30日
2021
年 08
月 23日用于向苏州吴相置业有限公司发放信托借款,最终将借款资金用于江苏省苏州市相城区苏相合作区昌
南路南、
五星路东
59 号地块项目的开发建设及归还股东借款等。
现金
8.00% 903.96
1201.
38
155.90 0 是 是重庆信托信托重庆信
托-姑
苏 3 号集合资金信托计划
6525自有资金
2019
年 09
月 27日
2021
年 08
月 07日用于向苏州恒大房产开发有限公司发放信托借款,最终用于江苏省苏州市相城区黄埭镇方桥现金
7.80% 948.18
1442.
16
140.73 0 是 是
路东、春秋路北的
60 号地块项目的开发建设及归还股东借款等。
中融信托信托中融信
托-丰
腾 56号集合资金信托计划
16000自有资金
2019
年 11
月 15日
2021
年 11
月 15日用于向南昌万达城投资有限公司发放经营性物业贷款。
现金
8.70%
2787.
81
1914.
48
343.23 0 是 是重庆信托信托重庆信
托-启
瑞 10号集合资金信托计划
15000自有资金
2019
年 12
月 12日
2021
年 05
月 08日用于加入重庆信
托·弘瑞 6号集合资金信托计划。
现金
7.90%
1665.
49
1542.
0.00 0 是 是重庆信托信托重庆信
托-涨
鑫 2 号集合资金信托计划
20000自有资金
2020
年 03
月 03日
2021
年 08
月 07日
用于"重
庆信托-昆明万达城项目集合资金信
托计划"
第一期信托,最终用于昆明万达城投
资满足"
四三二"条件的项目开发建设及用于偿还其开发贷款及负债等。
现金
8.00%
2288.
22
1722.
74
394.52 0 是 是外贸信托信托外贸信
托-富
荣 160号成都恒大贷
10000自有资金
2020
年 03
月 13日
2021
年 09
月 13日用于成都恒大新北城置业有限公司发放贷款,现金
8.20%
1233.
37
864.93 204.44 0 是 是
12款项目集合资金信托
计划 9期用于恒大成都曹家
巷广场 C地块项目的开发建设。
外贸信托信托外贸信
托-富
荣 160号成都恒大贷款项目集合资金信托计划
10 期
10000自有资金
2020
年 03
月 13日
2021
年 09
月 13日用于成都恒大新北城置业有限公司发放贷款,用于恒大成都曹家
巷广场 C地块项目的开发建设。
现金
8.20%
1233.
37
864.93 204.44 0 是 是中融信托信托中融信
托-融
筑 220号集合资金信托计划
20000自有资金
2020
年 04
月 24日
2022
年 02
月 27日用于受让恒大地产集团或其
指定第三方持有的上海丰顺置业有限
公司 10%的股权;
用于上海市青浦区朱家角居
住区 G地块开发建设。
现金
8.20%
3028.
38
1532.
16
0.00 0 是 是重庆信托信托重庆信
托-鹏
锐 1 号集合资金信托计划
12000自有资金
2020
年 04
月 27日
2022
年 03
月 18日用于拟向宝能汽车有限公司发放信托贷款,宝能汽车有限公司将贷款资金主要用于旗下“西安宝能新现金
7.90%
1792.
11
877.87 233.75 0 是 是
能源汽车零部件生产基地”项目厂房车间建
设、生产设备采购及受托人认可的其他资金用途。
中航信托信托中航信
托-天启
【2019
】721号童世界文旅服务项目信托贷款集合资金信托计划
7000自有资金
2020
年 04
月 29日
2021
年 04
月 29日用于以发放信托贷款方式为借款人恒大旅游集团有限公司的长沙
“童世界”乐园建设及旅游设备采购提供融资支持。
现金
8.20% 574 528.39 141.53 0 是 是中航信托信托中航信
托-天启
【2019
】19 号
南宁五象湖项目集合资金信托计划
15000自有资金
2020
年 04
月 29日
2022
年 04
月 29日用于受让福建阳光持有阳光城广西
20%股权收益权,用于阳光城广西项下房地产项目后续开发建设。
现金
8.70%
2646.
25
1217.
45
326.25 0 是 是中融信托信托中融信
托-君
瑞 175号集合资金信托计划
11000自有资金
2020
年 05
月 12日
2021
年 05
月 12日用于向福州盛景阳光城房地产开发有限公司发放信托贷款,用于现金
8.20% 902 798.21 222.41 0 是 是
阳光五一花园项目后续开发建设。
五矿信托信托
五矿信
托-恒信共筑
310号-
豐盈 2号集合资金信托计划
10000自有资金
2020
年 05
月 22日
2021
年 05
月 22日用于向西安诚铭旅游开发有限公司发放信托贷款,最终用于位于西安西咸新区秦汉新城板块恒大文化旅游城项
目 B-02地块项目的开发建设。
现金
8.30% 830 711.75 204.66 0 是 是陕国投信托信托陕国投
-恒大海南专项债权集合资金信托计划
18000自有资金
2020
年 05
月 28日
2021
年 05
月 28日用于新世界中国地产(海口)有限公司名下海口美丽沙项
目 1601地块开发建设。
现金
8.40% 1512
1271.
74
372.82 0 是 是兴业信托信托兴业信
托-致地
I062(金陵观
澜)集合资金信托计划
15000自有资金
2020
年 05
月 29日
2021
年 05
月 29日用于受让南京世荣置业有限公司持有的璀璨江山项目
18824.4平方米划线土地的特定资产
“抵押物”收益权,融资人取得转让价现金
7.40% 1110 927.53 0.00 0 是 是
款后专项用于置换璀璨江山项下民生银行部分开发贷及
G024 地
块一期项目建设开发。
中信信托信托中信信
托-嘉
和 118号恒大贵阳新世界集合资金信托计划
9500自有资金
2020
年 05
月 29日
2021
年 11
月 29日用于贵阳恒大金阳新世界
4C、4D地块项目的开发建设。
现金
7.60%
1085.
97
1012.
78
166.16 0 是 是中航信托信托中航信
托-天启
【2020
】潘安湖生态小镇项目贷款集合资金信托计划
14320自有资金
2020
年 06
月 19日
2022
年 06
月 19日用于向恒大地产集团南京置业有限公司发放信托贷款,资金用于徐州恒大潘安湖生态小镇住宅项目开发建设。
现金
8.70%
2491.
68
303.78 311.46 0 是 是中信信托信托中信信
托-富力杭州项目集合资金信托计划
7000自有资金
2020
年 06
月 23日
2021
年 11
月 12日用于对浙江富力房地产开发有限公司发放信托贷款,用于杭州余杭区项目
一期及二期的住宅及公寓开发建设。
现金
7.50% 729.25 128.01 0.00 0 是 是
外贸信托信托外贸信
托-富
荣 191号集合资金信托计划
10000自有资金
2020
年 07
月 08日
2022
年 01
月 08日用于恒大天津山水
城项目四号地块的开发建设以及归还股东借款。
现金
7.20%
1082.
96
520.77 193.32 0 是 是中航信托信托中航信
托-天启
【2020
】81 号融创重庆蔡家项目贷款集合资金信托计划
8000自有资金
2020
年 07
月 10日
2022
年 01
月 10日用于向融创瀚茗发放重庆蔡
家映湖十里项目开发建设贷款。
现金
7.40% 890.43 428.19 145.97 0 是 是中航信托信托中航信
托-天玑汇财
3 号债券投资集合资金信托计划
50000自有资金
2020
年 07
月 14日
2021
年 06
月 21日用于投资银行存款
(活期存款、定期存款、同业存款)等。
现金
4.55%
2131.
64
1620.
55
0.00 0 是 是重庆信托信托重庆信
托-京
润 1 号集合资金信托计划
8800自有资金
2020
年 07
月 14日
2021
年 07
月 25日用于投资“重庆信托·姑苏 1号集合资金信托计划”,信托资金闲置期间可投资于银行
存款、债券、银行理财产品或证券公司定向资产管理计
划、基金现金
7.40% 670.83 463.87 160.57 0 是 是
公司资产管理计
划、信托产品、信托受益权等投资品种。
中融信托信托中融信
托-丰
盈 97号集合资金信托计划
10000自有资金
2020
年 07
月 24日
2021
年 07
月 24日用于收购南宁森驰置业有限公司的“南宁雍
锦湾二期”项目特定资产收益权。
现金
7.70% 770 527.4 194.08 0 是 是中航信托信托中航信
托-天启
【2020
】77 号青岛东方影都贷款集合资金信托计划
8800自有资金
2020
年 07
月 24日
2021
年 07
月 24日用于向东方影都融创投资有限公司分期信托贷款,资金最终用于青岛“东方影
都”A-4-3地块项目开发建设。
现金
7.30% 642.4 440 0.00 0 是 是中融信托信托中融信
托-融
筑 339号集合资金信托计划
12000自有资金
2020
年 07
月 29日
2021
年 07
月 29日用于向北京富华房地产开发有限公司发放信托贷款,均用于北京恒大丽宫
项目四期的开发建设。
现金
7.60% 912 609.67 0.00 0 是 是民生信托信托民生信
托-至
信 930
7000自有资金
2020
年 08
月 07
2022
年 02
月 07用于受让奥园集团重庆置业现金
8.70% 916 375.41 158.51 0 是 是
号重庆奥园特定资产收益权集合资金信托计划
日 日 有限公司持有的上海奥港
81%股权对应的收益权,资金最终用于大埔奥园广场项目大地块的开发建设。
陕国投信托信托陕国投
-雅居乐海南专项债权集合资金信托计划
15000自有资金
2020
年 08
月 14日
2021
年 08
月 14日用于投资海南雅居乐房地产开发有限公司作为债务人的专项债权;资金用于海南雅居乐名下海南清
水湾 B09
区一期高
层及二期高层项目
及B11-1、
B11-2 区
26 栋高层住宅开发建设。
现金
7.30% 1095 687 0.00 0 是 是
五矿信托信托
五矿信
托-恒信共筑
324号-信诚
30 号集合资金信托计划
20000自有资金
2020
年 08
月 14日
2021
年 08
月 14日用于受让肇庆市昊阳房地产开发有限公司持有的肇庆市端州区
108 区蓝塘中路阳光城檀府项目形成的特定资现金
8.00% 1600
1003.
84
394.52 0 是 是
产收益权,信托资金用于肇庆市端
州区 108区蓝塘中路南侧
A、B 地块对应阳光城檀府项目的开发建设。
民生信托信托民生信
托-至信
1047号宝能投资融资项目集合资金信托计划
20000自有资金
2020
年 08
月 21日
2022
年 08
月 21日用于受让深圳市宝能投资集团有限公司持有的深圳市钜盛华股份有限公司
6%股权收益权,宝能投资将获得的信托资金用于补充宝能投资及其子公司流动资金及归还因补充流动资金需求产生的金融机构
借款、债券融资、股东及关联公司借款等。
现金
8.90% 3560 434.03 438.90 0 是 是中航信托信托中航信
托-天玑汇财
3 号债券投资
50000自有资金
2020
年 08
月 27日
2021
年 05
月 24日用于投资银行存款
(活期存款、定期存款、同现金
4.30%
1590.
41
1272.
33
0.00 0 是 是
集合资金信托计划业存款);
债券逆回
购、同业存单、交易所及银行间市场债券及票据;债券
基金(含可转债基
金)及债券专户;
现金管理型金融工具;其他安全性高并且法律法规以及监管部门允许投资的银行间或交易所固定收益类产品。
中融信托信托中融信
托-汇
聚金 1号货币基金集合资金信托计划
50000自有资金
2020
年 08
月 27日
2021
年 05
月 24日用于投资银行存
款、货币市场基
金、债券基金、交易所及银行间市场债券以及固定收益类产品等。
现金
6.10%
2256.
16
1796.
58
0.00 0 是 是重庆信托信托重庆信
托-晋
阳 1 号集合资金信托计划
20000自有资金
2020
年 08
月 27日
2022
年 02
月 27日用于借款人深圳市钜盛华股份有限公司或下属公司经营
周转、归还原有债现金
7.80%
2346.
41
923.18 384.66 0 是 是
务等。
民生信托信托民生信
托-中民永丰
1 号集合资金信托计划
50000自有资金
2020
年 08
月 28日
2021
年 05
月 25日用于投资交易所和银行间市场上交易
的债券、货币市场
工具、货币基金、债券基金等。
现金
5.65%
2089.
73
1664.
04
0.00 0 是 是上海信托信托上海信托-“红宝石”安心稳健系列
(上信
-H-600
1)
30000自有资金
2020
年 09
月 03日
2021
年 06
月 08日用于投资货币市场工具包括
现金、银行存款、大额可转
让存单、债券逆回购等。
现金
4.60%
1051.
07
790.19 0.00 0 是 是上海信托信托上海信托-“红宝石”安心稳健系列
(上信
-H-600
1)
20000自有资金
2020
年 09
月 23日
2021
年 06
月 15日用于投资货币市场工具包括
现金、银行存款、大额可转
让存单、债券逆回购等。
现金
4.60% 667.95 476.38 0.00 0 是 是陕国投信托信托陕国投
-优债
28 号南通海安集合资金信托计划
4000自有资金
2020
年 09
月 24日
2022
年 09
月 24日用于投资南通常海建设投资发展有限公司作为债务人的专项债权;资金用于补充公司市场化领域的基础设施建设和绿化整治工现金
7.00% 560 68.27 70.00 0 是 是
程业务所需资金。
中航信托信托中航信
托-天启
【2020
】408号南京石板桥项目股权投资信托计划
6000自有资金
2020
年 09
月 25日
2022
年 09
月 24日用于通过深圳航桥投资合伙
企业(有限合伙)对南京恒泽房地产开发有限
公司、南京恒昇房地产开发有限公司进行增资扩股,最终用于公司名下南京溧水地块的开发建设。
现金
8.50%
1018.
6
124.36 0.00 0 是 是重庆信托信托重庆信
托-鹏
锐 3 号集合资金信托计划
10000自有资金
2020
年 10
月 13日
2022
年 03
月 18日用于向深圳市钜盛华股份有限公司发放信托贷款,贷款资金主要用于偿还金融机构融资等经营周转,及受托人认可的其他资金用途。
现金
7.60%
1084.
82
351.89 187.40 0 是 是上海信托信托上海信
托-鑫月丰利集合资金信托计划
30000自有资金
2020
年 10
月 14日
2021
年 06
月 09日用于投资债券,包括但不限
于国债、金融债
(含次级债和混合现金
4.50% 880.27 621.37 0.00 0 是 是
资本债)、企业债、公司债
(含非公开发行公
司债)、央行票据 、(超)短期融资
券、中期票据、定向融资工具(PPN)、可转债/可交换
债、项目收益债、资产支持
证券(票据)等。
上海信托信托上海信
托-鑫月丰利集合资金信托计划
20000自有资金
2020
年 10
月 21日
2021
年 06
月 16日用于投资债券,包括但不限
于国债、金融债
(含次级债和混合资本债)、企业债、公司债
(含非公开发行公
司债)、央行票据 、(超)短期融资
券、中期票据、定向融资工具(PPN)、可转债/可交换现金
4.50% 586.85 396.99 0.00 0 是 是
债、项目收益债、资产支持
证券(票据)等。
中航信托信托中航信
托-天启
【2019
】116号昆明恒大云玺大宅信托贷款集合资金信托计划
15000自有资金
2020
年 11
月 06日
2022
年 11
月 06日用于向云南尚居地产有限公司发放信托贷款,具体用于昆明“恒大云玺大宅”项目
5、11、12、
13 区开发建设。
现金
8.00% 2400 292.6 300.00 0 是 是华润信托信托华润信
托-鼎
新 240号富力太原项目集合资金信托计划
10000自有资金
2020
年 11
月 17日
2021
年 11
月 17日用于向太原富力盛达房地产开发有限公司发放信托贷款,用于金禧城
A、B、C、
E、X2 地块项目的开发建设。
现金
6.90% 690 168.25 170.97 0 是 是
五矿信托信托
五矿信
托-恒信共筑
318号-鑫玖
77 号集合资金信托计划
9500自有资金
2020
年 11
月 20日
2021
年 11
月 20日用于受让昆明恒海持有的位于昆明市官渡区的“恒大玖珑
湾”A1-2地块形成的特定资产收益权,具体用于满足现金
7.90% 750.5 183 185.05 0 是 是
432 条件的标的地块的建设开发。
中信信托信托中信信
托-碧桂园苏
韵 4号融资集合资金信托计划
8000自有资金
2020
年 11
月 25日
2022
年 05
月 25日用于中信信托以资产收益权转让附回购模式向南通瑞兴提供融资,由南通瑞兴将信托资金用于符合
“四三二”条件的碧桂园星宸花苑项目开发建设。
现金
6.70% 268 130.7 168.95 0 是 是中航信托信托中航信
托-天玑汇财
3 号债券投资集合资金信托计划
50000自有资金
2020
年 11
月 30日
2021
年 05
月 31日用于投资银行存款
(活期存款、定期存款、同业存款);
债券逆回
购、同业存单、交易所及银行间市场债券及票据;债券
基金(含可转债基
金)及债券专户;
现金管理型金融工具;其他安全性高并且法律法规以及现金
4.45%
1112.
5
542.53 0.00 0 是 是
监管部门允许投资的银行间或交易所固定收益类产品。
五矿信托信托
五矿信
托-恒信共筑
372号-鼎宁
10 号集合资金信托计划
8000自有资金
2020
年 12
月 04日
2022
年 12
月 04日用于受让北京铭海置业有限公司持有的海淀西北旺地块项目特定资产收益权,资金最终用于标的项目开发建设。
现金
5.47% 875.2 106.7 109.40 0 是 是民生信托信托民生信
托-中民永丰
1 号集合资金信托计划
20000自有资金
2020
年 12
月 18日
2021
年 06
月 15日用于投资交易所和银行间市场上交易
的债券、货币市场
工具、货币基金、债券基金等。
现金
5.30% 519.84 299.12 0.00 0 是 是民生信托信托民生信
托-中民永丰
1 号集合资金信托计划
60000自有资金
2020
年 12
月 22日
2021
年 06
月 22日用于投资交易所和银行间市场上交易
的债券、货币市场
工具、货币基金、债券基金等。
现金
5.30%
1585.
64
862.52 0.00 0 是 是江苏信托信托江苏信
托-安鑫添利
1 号集
20000自有资金
2020
年 12
月 31日
2021
年 06
月 24日用于各类
存款、各类债券及债券逆回现金
4.80% 460.27 234.08 0.00 0 是 是
合资金信托计划
购、资产支持证
券、货币市场基
金、债券基金、经法律法规或监督管理机构认可的其他标准化债权资产以及投资范围限定在标准化资产的信
托、券商、基金、保险、银行和期货及其子公司发行的固定收益类资产管理产品。
中融信托信托中融信
托-汇
聚金 1号货币基金集合资金信托计划
50000自有资金
2020
年 12
月 31日
2021
年 06
月 29日用于投资银行存
款、货币市场基
金、债券基金、交易所及银行间市场债券以及固定收益类产品
(包括但不限于期
限在 1 年以内的逆回购及委托人认可的其他固定收益类现金
6.10%
1504.
11
743.7 0.00 0 是 是
产品)等以及本合同约定的其他用途。
陕国投信托信托陕国投
-汇钰 1号现金管理集合资金信托计划
50000自有资金
2021
年 01
月 04日
2021
年 06
月 28日本信托计划为具有低风险和高流动性特点的现金管理型信托计划,委托人基于对受托人的信任,自愿将合法拥有的资金委托给受托人,在保持信托资金低风险和高流动性的前提下,由受托人集合管理、运用,通过受托人的专业管理谋求信托财产的稳定增值。
现金
5.15%
1234.
59
606.71 0.00 0 是 是中航信托信托中航信
托-天玑汇财
3 号债券投资集合资金信托计划
10000
0自有资金
2021
年 01
月 07日
2021
年 06
月 24日用于投资
①银行存
款(活期存款、定期存款、同业存款);②债券逆回
购、同业存单、交现金
4.55%
2094.
25
1034.
66
0.00 0 是 是
易所及银行间市场债券及票据;③债券基金
(含可转债基金)及债券专户;④现金管理型金融工具
(货币市场基金或其他类货
币基金、短期理财工具等);
⑤其他安全性高并且法律法规以及监管部门允许投资的银行间或交易所固定收益类产品。
江苏信托信托江苏信
托-富
居 11号集合资金信托计划
10000自有资金
2021
年 01
月 11日
2022
年 12
月 01日用于向常州盛嘉置业发展有限公司发放可续期信托贷款,专项用于其开发的风华瓴著花园项目开发建设。
现金
7.50%
1415.
75
162.33 139.73 0 是 是爱建信托信托爱建信
托-爱建长盈
精英-阳光城
10000自有资金
2021
年 01
月 15日
2022
年 01
月 15日用于受让漳州市富山房地产开发有限公司持有现金
7.10% 710 145.89 0.00 0 是 是
滨海明珠项目集合资金信托计划的阳光城滨海明珠项目的特定资产收益权,并通过漳州富山回购项目特定资产收益权实现信托资金的退出;最终信托资金用于偿还股东借款及项目开发建设。
外贸信托信托外贸信
托-富
荣 185号太原恒大天宸项目贷款集合资金信托计划
10000自有资金
2021
年 01
月 20日
2022
年 01
月 20日用于向太原恒大鸿博房地产开发有限公司发放信托贷款,用于其开发的太原恒大
天宸首 1期项目。
现金
7.80% 780 153.86 130.36 0 是 是
五矿信托信托
五矿信
托-恒信共筑
326号-长利稳
增 123号集合资金信托计划
10000自有资金
2021
年 02
月 09日
2022
年 08
月 09日用于受让融资人昆明蓝光滇池文化旅游发展有限公司持有的昆明蓝光花间溪谷花园
A5、A6、
A7、A9地块特定资产收益权,最终用于该项现金
8.00%
1196.
71
109.59 85.48 0 是 是
目开发建设。
五矿信托信托
五矿信
托-恒信共筑
452号-璟嘉
60 号集合资金信托计划
15000自有资金
2021
年 02
月 26日
2021
年 08
月 26日用于受让中泛置业持有的长沙市雨花区的阳光城“愉景
湾一期项目”的特定资产收益权,资金最终用于该项目的开发建设,信托到期时中泛置业回购特定资产收益权。
现金
7.00% 527.92 94.93 0.00 0 是 是
五矿信托信托
五矿信
托-恒信共筑
452号-璟嘉
60 号集合资金信托计划
15000自有资金
2021
年 02
月 26日
2021
年 08
月 26日用于受让中泛置业持有的长沙市雨花区的阳光城“愉景
湾一期项目”的特定资产收益权,资金最终用于该项目的开发建设,信托到期时中泛置业回购特定资产收益权。
现金
7.00% 527.92 94.93 0.00 0 是 是上海信托信托上海信
托-万成债权
5000自有资金
2021
年 02
月 26
2022
年 08
月 25用于向徐州万成房地产开发现金
6.80% 507.67 30.74 0.00 0 是 是
投资集合资金信托计划
日 日 有限公司发行债权,最终资金用于债务人旗下徐州云龙区“云樾外滩”
(坝山热电厂号地块)项目开发建设。
中航信托信托中航信
托-天新湾区更新
10 号集合资金信托计划
10000自有资金
2021
年 02
月 26日
2023
年 02
月 26日用于有限合伙人向深圳市佳业航鼎咨询管理合伙企业
(有限合伙)出资;
各期信托单位资金
的 1%用于认购信托业保障基金。
现金
8.50% 1700 76.85 0.00 0 是 是中航信托信托中航信
托-天新湾区更新
10 号集合资金信托计划
10000自有资金
2021
年 03
月 01日
2023
年 03
月 01日用于有限合伙人向深圳市佳业航鼎咨询管理合伙企业
(有限合伙)出资;
各期信托单位资金
的 1%用于认购信托业保障基金。
现金
8.50% 1700 69.86 0.00 0 是 是
外贸 信托 外贸信 10000 自有 2021 2022 用于项目 现 7.30% 730 24 0.00 0 是 是
33
信托 托-富
祥 91号恒大北京项
目 1 期
-2
资金 年 03
月 19日
年 03
月 19日公司关联公司北京恒房兴置业有限公司持有开发的北京市房山区良乡恒大房山御峰项目的开发建设或归还股东借款。
金外贸信托信托外贸信
托-富
祥 91号恒大北京项
目 2 期
-1
10000自有资金
2021
年 03
月 19日
2022
年 09
月 19日用于项目公司关联公司北京恒房兴置业有限公司持有开发的北京市房山区良乡恒大房山御峰项目的开发建设或归还股东借款。
现金
7.80%
1173.
21
25.64 0.00 0 是 是上海信托信托上海信
托-海雅债权投资集合资金信托计划
7500自有资金
2021
年 03
月 23日
2023
年 03
月 23日用于海南雅居乐房地产开发有限公司在建海南清水湾绿茵新邨及
澄碧苑 2
栋公寓、
10 栋高层及地下车库工程项目的开发建设。
现金
7.00% 1050 11.51 0.00 0 是 是合计
1220
641.59
-- -- -- -- -- --
84687
.65
43164
.59
-- 0 -- -- --
委托理财出现预期无法收回本金或存在其他可能导致减值的情形
□ 适用 √ 不适用
九、违规对外担保情况
□ 适用 √ 不适用公司报告期无违规对外担保情况。
十、控股股东及其关联方对上市公司的非经营性占用资金情况
□ 适用 √ 不适用公司报告期不存在控股股东及其关联方对上市公司的非经营性占用资金。
十一、报告期内接待调研、沟通、采访等活动登记表
□ 适用 √ 不适用
公司报告期内未发生接待调研、沟通、采访等活动。
第四节 财务报表
一、财务报表
1、合并资产负债表
编制单位:江苏洋河酒厂股份有限公司
单位:元
项目 2021 年 3 月 31 日 2020 年 12 月 31 日
流动资产:
货币资金 7138554092.43 7243186362.29结算备付金拆出资金
交易性金融资产 17070632109.34 14301978905.17衍生金融资产
应收票据 23775474.70 613496333.71
应收账款 6748267.51 4225230.90应收款项融资
预付款项 33944079.72 9358846.48应收保费应收分保账款应收分保合同准备金
其他应收款 37280942.00 30318938.67
其中:应收利息应收股利买入返售金融资产
存货 14199940964.06 14852694146.30合同资产持有待售资产
一年内到期的非流动资产
其他流动资产 196629264.46 182837070.99
流动资产合计 38707505194.22 37238095834.51
非流动资产:
发放贷款和垫款
债权投资其他债权投资长期应收款
长期股权投资 30139299.56 29528377.16其他权益工具投资
其他非流动金融资产 6634281190.02 6366958225.81投资性房地产
固定资产 6713935677.44 6882953634.34
在建工程 234592047.64 223468482.24生产性生物资产油气资产使用权资产
无形资产 1705967049.31 1713526693.10开发支出
商誉 276001989.95 276001989.95
长期待摊费用 95303.80 127071.76
递延所得税资产 1265497825.80 925921403.51
其他非流动资产 201949944.94 209677594.21
非流动资产合计 17062460328.46 16628163472.08
资产总计 55769965522.68 53866259306.59
流动负债:
短期借款向中央银行借款拆入资金交易性金融负债衍生金融负债
应付票据 30000000.00
应付账款 1445328582.31 1151871136.29预收款项
合同负债 6128740726.95 8801346891.32卖出回购金融资产款吸收存款及同业存放代理买卖证券款代理承销证券款
应付职工薪酬 52816831.69 196241487.31
应交税费 3416057178.97 2152806156.43
其他应付款 1419319141.95 1556699290.45
其中:应付利息应付股利应付手续费及佣金应付分保账款持有待售负债
一年内到期的非流动负债
其他流动负债 230140473.98 798216651.49
流动负债合计 12722402935.85 14657181613.29
非流动负债:
保险合同准备金
长期借款 36360.00 36360.00应付债券
其中:优先股永续债租赁负债
长期应付款 196890554.53 197049341.93长期应付职工薪酬预计负债
递延收益 83810250.00 85999500.00
递延所得税负债 431087707.27 456339414.38其他非流动负债
非流动负债合计 711824871.80 739424616.31
负债合计 13434227807.65 15396606229.60
所有者权益:
股本 1506988000.00 1506988000.00其他权益工具
其中:优先股永续债
资本公积 741532550.13 741532550.13
减:库存股 1002128680.79 1002128680.79
其他综合收益 -6134270.75 -5213248.93
专项储备
盈余公积 753494000.00 753494000.00
一般风险准备
未分配利润 40352437114.66 36489911363.13
归属于母公司所有者权益合计 42346188713.25 38484583983.54
少数股东权益 -10450998.22 -14930906.55
所有者权益合计 42335737715.03 38469653076.99
负债和所有者权益总计 55769965522.68 53866259306.59
法定代表人:张联东 主管会计工作负责人:尹秋明 会计机构负责人:赵其科
2、母公司资产负债表
单位:元
项目 2021 年 3 月 31 日 2020 年 12 月 31 日
流动资产:
货币资金 5997387816.81 5713353085.92
交易性金融资产 4757405123.29 2096497598.93衍生金融资产
应收票据 18535474.70 74100000.00
应收账款 4173186616.72 387657700.12应收款项融资
预付款项 116653372.51 84206238.58
其他应收款 8441728967.58 10403769305.69
其中:应收利息
应收股利 1775818203.33 1775818203.33
存货 9609902003.54 10343443087.16合同资产持有待售资产
一年内到期的非流动资产其他流动资产
流动资产合计 33114799375.15 29103027016.40
非流动资产:
债权投资其他债权投资长期应收款
长期股权投资 7964291378.23 7964291378.23其他权益工具投资
其他非流动金融资产 2222520697.67 2480599923.11投资性房地产
固定资产 4302445652.57 4416370356.00
在建工程 52200531.18 58004537.10生产性生物资产油气资产使用权资产
无形资产 1203622499.87 1208261829.54开发支出商誉长期待摊费用
递延所得税资产 8082866.32 8032095.76
其他非流动资产 166280360.94 173867010.21
非流动资产合计 15919443986.78 16309427129.95
资产总计 49034243361.93 45412454146.35
流动负债:
短期借款交易性金融负债衍生金融负债应付票据
应付账款 1024840310.30 839199956.37预收款项
合同负债 14011393484.19 10764681770.37应付职工薪酬
应交税费 471594485.08 809734252.60
其他应付款 208062137.94 186265132.79
其中:应付利息应付股利持有待售负债
一年内到期的非流动负债
其他流动负债 1818788598.22 1396504456.42
流动负债合计 17534679015.73 13996385568.55
非流动负债:
长期借款 36360.00 36360.00应付债券
其中:优先股永续债租赁负债
长期应付款 144186869.73 144254229.73长期应付职工薪酬预计负债
递延收益 5000000.00 5000000.00
递延所得税负债 330359382.64 387147470.28其他非流动负债
非流动负债合计 479582612.37 536438060.01
负债合计 18014261628.10 14532823628.56
所有者权益:
股本 1506988000.00 1506988000.00其他权益工具
其中:优先股永续债
资本公积 1341628480.93 1341628480.93
减:库存股 1002128680.79 1002128680.79其他综合收益专项储备
盈余公积 753494000.00 753494000.00
未分配利润 28419999933.69 28279648717.65
所有者权益合计 31019981733.83 30879630517.79
负债和所有者权益总计 49034243361.93 45412454146.35
3、合并利润表
单位:元
项目 本期发生额 上期发生额
一、营业总收入 10520001017.41 9268167143.40
其中:营业收入 10520001017.41 9268167143.40利息收入
已赚保费手续费及佣金收入
二、营业总成本 5464072132.51 4972412127.46
其中:营业成本 2508367995.14 2433859980.64利息支出手续费及佣金支出退保金赔付支出净额提取保险责任合同准备金净额保单红利支出分保费用
税金及附加 1734473180.06 1392673096.21
销售费用 663559245.61 624624759.89
管理费用 491151613.47 479341347.21
研发费用 76738247.93 49311588.28
财务费用 -10218149.70 -7398644.77
其中:利息费用 1964.00
利息收入 19840164.26 10893484.58
加:其他收益 15555338.79 12327041.47投资收益(损失以“-”号填列)
158357729.60 311232850.92
其中:对联营企业和合营企业的投资收益
-137205.41 -652083.50以摊余成本计量的金融资产终止确认收益
汇兑收益(损失以“-”号填列)净敞口套期收益(损失以“-”号填列)公允价值变动收益(损失以“-”号填列)
-94857705.45 798785096.71信用减值损失(损失以“-”号填列)
-471512.55 -4509681.88资产减值损失(损失以“-”号填列)资产处置收益(损失以“-”号填 243214.70列)
三、营业利润(亏损以“-”号填列) 5134755949.99 5413590323.16
加:营业外收入 3683129.02 3024845.19
减:营业外支出 12031397.04 23546900.48
四、利润总额(亏损总额以“-”号填列) 5126407681.97 5393068267.87
减:所得税费用 1259403710.05 1389615050.27
五、净利润(净亏损以“-”号填列) 3867003971.92 4003453217.60
(一)按经营持续性分类1.持续经营净利润(净亏损以“-”号填列)
3867003971.92 4003453217.602.终止经营净利润(净亏损以“-”号填列)
(二)按所有权归属分类
1.归属于母公司股东的净利润 3862525751.53 4002168546.84
2.少数股东损益 4478220.39 1284670.76
六、其他综合收益的税后净额 -919333.88 -3868886.54归属母公司所有者的其他综合收益的税后净额
-921021.82 -3868886.54
(一)不能重分类进损益的其他综合收益
1.重新计量设定受益计划变动额
2.权益法下不能转损益的其他综合收益
3.其他权益工具投资公允价值变动
4.企业自身信用风险公允价值变动
5.其他
(二)将重分类进损益的其他综合收益
-921021.82 -3868886.54
1.权益法下可转损益的其他综合收益
5006.93 -185175.11
2.其他债权投资公允价值变动
3.金融资产重分类计入其他综合收益的金额
4.其他债权投资信用减值准备
5.现金流量套期储备
6.外币财务报表折算差额 -926028.75 -3683711.43
7.其他归属于少数股东的其他综合收益的税后净额
1687.94
七、综合收益总额 3866084638.04 3999584331.06归属于母公司所有者的综合收益总额
3861604729.71 3998299660.30
归属于少数股东的综合收益总额 4479908.33 1284670.76
八、每股收益:
(一)基本每股收益 2.5796 2.6564
(二)稀释每股收益 2.5796 2.6564
本期发生同一控制下企业合并的,被合并方在合并前实现的净利润为:0.00 元,上期被合并方实现的净利润为:0.00 元。
法定代表人:张联东 主管会计工作负责人:尹秋明 会计机构负责人:赵其科
4、母公司利润表
单位:元
项目 本期发生额 上期发生额
一、营业收入 4476815723.28 4826937630.64
减:营业成本 2322875668.76 2053431753.97
税金及附加 1476685102.57 1191497059.86
销售费用 417536.91 1341213.77
管理费用 239000084.79 274146990.02
研发费用 76363704.41 49191663.02
财务费用 8965493.85 1572941.29
其中:利息费用 1964.00
利息收入 5559552.22 5733833.10
加:其他收益 3451849.00 5727860.00投资收益(损失以“-”号填列)
43067165.52 56483251.61
其中:对联营企业和合营企业的投资收益以摊余成本计量的金融
资产终止确认收益(损失以“-”号填列)净敞口套期收益(损失以“-”号填列)公允价值变动收益(损失以“-”号填列)
-227152350.57 937818977.66信用减值损失(损失以“-”号填列)
-203082.22 -566107.76资产减值损失(损失以“-”号填列)资产处置收益(损失以“-”号填列)
27089.86
二、营业利润(亏损以“-”号填列) 171698803.58 2255219990.22
加:营业外收入 327747.38 239214.22
减:营业外支出 3245607.20 21439848.18三、利润总额(亏损总额以“-”号填列)
168780943.76 2234019356.26
减:所得税费用 28429727.72 559172367.22
四、净利润(净亏损以“-”号填列) 140351216.04 1674846989.04
(一)持续经营净利润(净亏损以“-”号填列)
140351216.04 1674846989.04
(二)终止经营净利润(净亏损以“-”号填列)
五、其他综合收益的税后净额
(一)不能重分类进损益的其他综合收益
1.重新计量设定受益计划变动额
2.权益法下不能转损益的其他综合收益
3.其他权益工具投资公允价值变动
4.企业自身信用风险公允价值变动
5.其他
(二)将重分类进损益的其他综合收益
1.权益法下可转损益的其
他综合收益
2.其他债权投资公允价值变动
3.金融资产重分类计入其他综合收益的金额
4.其他债权投资信用减值准备
5.现金流量套期储备
6.外币财务报表折算差额
7.其他
六、综合收益总额 140351216.04 1674846989.04
七、每股收益:
(一)基本每股收益
(二)稀释每股收益
5、合并现金流量表
单位:元
项目 本期发生额 上期发生额
一、经营活动产生的现金流量:
销售商品、提供劳务收到的现金 9432570183.09 5990742711.98客户存款和同业存放款项净增加额向中央银行借款净增加额向其他金融机构拆入资金净增加额收到原保险合同保费取得的现金收到再保业务现金净额保户储金及投资款净增加额
收取利息、手续费及佣金的现金拆入资金净增加额回购业务资金净增加额代理买卖证券收到的现金净额收到的税费返还
收到其他与经营活动有关的现金 176559137.13 231671313.98
经营活动现金流入小计 9609129320.22 6222414025.96
购买商品、接受劳务支付的现金 1580723742.25 1600261521.71客户贷款及垫款净增加额存放中央银行和同业款项净增加额支付原保险合同赔付款项的现金拆出资金净增加额
支付利息、手续费及佣金的现金支付保单红利的现金支付给职工以及为职工支付的现金
720156933.56 657647387.38
支付的各项税费 3444454797.49 3575966259.90
支付其他与经营活动有关的现金 944234836.32 717409504.65
经营活动现金流出小计 6689570309.62 6551284673.64
经营活动产生的现金流量净额 2919559010.60 -328870647.68
二、投资活动产生的现金流量:
收回投资收到的现金 4313380924.36 9127831292.77
取得投资收益收到的现金 158494935.01 311884934.42
处置固定资产、无形资产和其他长期资产收回的现金净额
718498.37处置子公司及其他营业单位收到的现金净额收到其他与投资活动有关的现金
投资活动现金流入小计 4472594357.74 9439716227.19
购建固定资产、无形资产和其他长期资产支付的现金
56003853.86 81678035.19
投资支付的现金 7444400000.00 9324049279.97质押贷款净增加额取得子公司及其他营业单位支付的现金净额支付其他与投资活动有关的现金
投资活动现金流出小计 7500403853.86 9405727315.16
投资活动产生的现金流量净额 -3027809496.12 33988912.03
三、筹资活动产生的现金流量:
吸收投资收到的现金
其中:子公司吸收少数股东投资收到的现金
取得借款收到的现金收到其他与筹资活动有关的现金筹资活动现金流入小计
偿还债务支付的现金 36363.00
分配股利、利润或偿付利息支付的现金
1964.00
其中:子公司支付给少数股东的
股利、利润支付其他与筹资活动有关的现金 501022016.76
筹资活动现金流出小计 501060343.76
筹资活动产生的现金流量净额 -501060343.76
四、汇率变动对现金及现金等价物的影响
3618215.66 3273375.14
五、现金及现金等价物净增加额 -104632269.86 -792668704.27
加:期初现金及现金等价物余额 7243186362.29 4300144848.67
六、期末现金及现金等价物余额 7138554092.43 3507476144.40
6、母公司现金流量表
单位:元
项目 本期发生额 上期发生额
一、经营活动产生的现金流量:
销售商品、提供劳务收到的现金 5017417958.38 2527972029.73收到的税费返还 617656.56
收到其他与经营活动有关的现金 1992973409.64 1748744219.03
经营活动现金流入小计 7010391368.02 4277333905.32
购买商品、接受劳务支付的现金 1538138939.95 1159672456.89支付给职工以及为职工支付的现金
208263719.21 266013789.83
支付的各项税费 2280212514.83 1738670470.36
支付其他与经营活动有关的现金 98991523.30 108151916.24
经营活动现金流出小计 4125606697.29 3272508633.32
经营活动产生的现金流量净额 2884784670.73 1004825272.00
二、投资活动产生的现金流量:
收回投资收到的现金 1019826292.29 3651469921.36
取得投资收益收到的现金 43067165.52 56483251.61
处置固定资产、无形资产和其他长期资产收回的现金净额
40000.00处置子公司及其他营业单位收到的现金净额收到其他与投资活动有关的现金
投资活动现金流入小计 1062933457.81 3707953172.97
购建固定资产、无形资产和其他长期资产支付的现金
13683397.65 66253229.06
投资支付的现金 3650000000.00 5600000000.00取得子公司及其他营业单位支付的现金净额支付其他与投资活动有关的现金
投资活动现金流出小计 3663683397.65 5666253229.06
投资活动产生的现金流量净额 -2600749939.84 -1958300056.09
三、筹资活动产生的现金流量:
吸收投资收到的现金取得借款收到的现金收到其他与筹资活动有关的现金筹资活动现金流入小计
偿还债务支付的现金 36363.00
分配股利、利润或偿付利息支付的现金
1964.00
支付其他与筹资活动有关的现金 501022016.76
筹资活动现金流出小计 501060343.76
筹资活动产生的现金流量净额 -501060343.76
四、汇率变动对现金及现金等价物的影响
-207851.72
五、现金及现金等价物净增加额 284034730.89 -1454742979.57
加:期初现金及现金等价物余额 5713353085.92 3741676596.22
六、期末现金及现金等价物余额 5997387816.81 2286933616.65
二、财务报表调整情况说明
1、2021年起首次执行新租赁准则调整首次执行当年年初财务报表相关情况
□ 适用 √ 不适用
2、2021年起首次新租赁准则追溯调整前期比较数据的说明
□ 适用 √ 不适用
三、审计报告
第一季度报告是否经过审计
□ 是 √ 否
公司第一季度报告未经审计。