天天快消息!泸州老窖: 2023年第一季度报告(英文版)

2023-05-18 16:33:34    来源:证券之星

                                                                    Q1 2023 Report of Luzhou Laojiao Co., Ltd.

    Stock Code: 000568        Stock abbreviation: Luzhou Laojiao       Announcement No. 2023-12

                                 Luzhou Laojiao Co., Ltd.


(资料图片仅供参考)

                                        Q1 2023 Report

Luzhou Laojiao Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the

Company’s Board of Directors hereby guarantee that the contents of this Report are true, accurate and

complete and free of any misrepresentations, misleading statements or material omissions.

Important Statements:

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.

responsible person for the Company’s financial affairs (Accounting Supervisor) have warranted that

the financial statements in this report are true, accurate and complete.

□Yes  No

This report has been prepared in both Chinese and English. Should there be any discrepancies or

misunderstandings between the two versions, the Chinese version shall prevail.

                                                                            Q1 2023 Report of Luzhou Laojiao Co., Ltd.

Whether the Company performed a retroactive adjustment to or restatement of accounting data.

□Yes  No

                                          Q1 2023                      Q1 2022                 YoY change (%)

 Operating revenues (CNY)                 7,610,153,819.27             6,311,964,675.84                    20.57%

 Net profits attributable to

 shareholders of the                       3,712,618,630.92             2,875,658,916.19                      29.10%

 Company (CNY)

 Net profits attributable to

 shareholders of the

 Company before non-                       3,688,940,523.35             2,864,799,362.69                      28.77%

 recurring gains and losses

 (CNY)

 Net cash flows from

 operating activities (CNY)

 Basic earnings per share

 (CNY/share)

 Diluted earnings per share

 (CNY/share)

 Weighted average ROE                             10.30%                          9.76%                       0.54%

 Total assets (CNY)                     58,341,416,403.54              51,385,481,354.52                      13.54%

 Net assets attributable to

 shareholders of the                      37,914,710,048.73            34,207,871,130.03                      10.84%

 Company (CNY)

Applicable □ N/A

                                                                                                          Unit: CNY

                     Item                               Q1 2023                                 Note

 Gain or loss on disposal of non-

 current assets (inclusive of                                       623,989.76

 impairment allowance write-offs)

 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 Company and continually

 given at a fixed amount or quantity in

 accordance with the national policies

 and standards)

 Gain or loss on fair-value changes on

 held-for-trading financial assets and

 liabilities & income from disposal of

 held-for-trading financial assets and

 liabilities and available-for-sale                               21,371,683.03

 financial assets (exclusive of the

 effective portion of hedges that arise

 in the Company’s ordinary course of

 business)

 Other non-operating income and

 expenditure except above-mentioned                                4,854,021.41

 items

 Less: Corporate income tax                                        7,864,870.77

         Minority interests (after tax)                               24,676.62

                                                                    Q1 2023 Report of Luzhou Laojiao Co., Ltd.

 Total                                                   23,678,107.57

Other items that meet the definition of non-recurring gain/loss:

□Applicable  N/A 


No such cases for the reporting period.

Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in the

Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities

to the Public-Non-Recurring Gains and Losses as a recurring gain/loss item.

□Applicable  N/A 


No such cases for the reporting period.

 Applicable  N/A

A. The closing balance of cash and cash equivalents increased by CNY 7,146,868,567.96 compared to

the opening balance, indicating an increase of 40.25%. It was mainly due to the receipt of bank loan in

the current period.

B. The closing balance of contract liabilities decreased by CNY 840,608,958.64 compared to the

opening balance, indicating a decrease of 32.75%; and the closing balance of other current liabilities

decreased by CNY 109,277,676.67 compared to the opening balance, indicating a decrease of 32.75%.

It was mainly due to the decreased advances from customers in the current period.

C. The closing balance of employee benefits payable decreased by CNY 272,572,974.36 compared to

the opening balance, indicating a decrease of 40.38%. It was mainly due to the settlement in the current

period of performance-based pay for last year.

D. The closing balance of taxes payable decreased by CNY 1,326,588,888.94 compared to the opening

balance, indicating a decrease of 38.11%. It was mainly due to the payment in the current period of

taxes payable as at the end of last year.

E. The closing balance of long-term loans increased by CNY 5,835,800,000.00 compared to the

opening balance, indicating an increase of 183.54%. It was mainly due to the receipt of bank loan in the

current period.

F. The closing balance of other comprehensive income decreased by CNY 112,841,779.49 compared

to the opening balance, indicating a decrease of 34.12%. It was mainly due to the decreased fair value

of equity investments.

G. Taxes and surcharges in the current period increased by CNY 276,332,079.82 compared to the

same period of last year, indicating an increase of 42.01%. It was mainly due to the increased

consumption tax in the current period.

H. Financial expenses in the current period increased by CNY 16,445,894.62 compared to the same

period of last year. It was mainly due to the increased interest expenses in the current period.

                                                                        Q1 2023 Report of Luzhou Laojiao Co., Ltd.

I. Investment income in the current period increased by CNY 63,541,925.41 compared to the same

period of last year. It was mainly due to the increased earnings of investee Huaxi Securities in the

current period.

J. Net cash flows from operating activities in the current period increased by CNY 377,285,346.77

compared to the same period of last year, indicating an increase of 33.34%. It was mainly due to the

increased cash received from sale of goods in the current period.

K. Net cash flows from investing activities in the current period increased by CNY 285,934,094.78

compared to the same period of last year. It was mainly due to the purchase of wealth management

product (collective asset management plan) from securities firm in the prior period.

L. Net cash flows from financing activities in the current period increased by CNY 5,170,529,701.77

compared to the same period of last year, indicating an increase of 888.40%. It was mainly due to the

receipt of bank loan in the current period.

rights as well as shareholdings of top 10 shareholders

                                                                                                      Unit: Share

 Total number of common                          Total number of preference shareholders with

 shareholders at the end of the         86,898   resumed voting rights at the end of the reporting               0

 reporting period                                period (if any)

                                     Shareholdings of the top 10 shareholders

                                                                      Number of        Pledged, marked or frozen

   Name of          Nature of     Shareholding     Total shares        holding                   shares

  shareholder      shareholder     percentage           held          restricted       Status of       Number of

                                                                       shares           shares          shares

 Luzhou

                  State-owned

 Laojiao Group                          25.89%    381,088,389.00            0.00

                  corporation

 Co., Ltd.

 Luzhou

 XingLu

                  State-owned

 Investment                             24.86%    365,971,142.00            0.00

                  corporation

 Group Co.,

 Ltd.

 Hong Kong

 Securities

                  Outbound

 Clearing                                3.96%      58,248,960.00           0.00

                  corporation

 Company

 Limited

 China

 Securities       Domestic non-

 Finance          state-owned            2.30%      33,842,059.00           0.00

 Corporation      corporation

 Limited

 Bank of China

 Co., Ltd. –

 Baijiu index

 classification

                  Other                  2.24%      32,962,917.00           0.00

 securities

 investment

 fund by China

 Merchants

                                                                          Q1 2023 Report of Luzhou Laojiao Co., Ltd.

Fund

Bank of China

Co., Ltd.-

Blue chip

selected

hybrid           Other                    1.49%      21,900,000.00             0.00

securities

investment

fund by E

Fund

Industrial and

Commercial

Bank of China

Co., Ltd.-

Newly growth

hybrid           Other                    1.02%      14,974,300.00             0.00

securities

investment

fund by

Invesco Great

Wall

Central Huijin

Asset            State-owned

Management       corporation

Co., Ltd.

Agricultural

Bank of China

Co., Ltd. -

Consumption

industry stock

                 Other                    0.72%      10,573,293.00             0.00

- based

securities

investment

fund by E

Fund

China Life

Insurance

Company

Limited-

Tradition-       Other                    0.61%       8,937,012.00             0.00

common

insurance

product-005L

-CT001 Hu

                               Shareholdings of the top 10 non-restricted shareholders

                                                                                            Type of shares

     Name of shareholder                Number of non-restricted shares held

                                                                                         Type           Number

                                                                                      CNY common 381,088,389.0

Luzhou Laojiao Group Co., Ltd.                                     381,088,389.00

                                                                                        shares                   0

Luzhou XingLu Investment                                                              CNY common 365,971,142.0

Group Co., Ltd.                                                                         shares                   0

Hong Kong Securities Clearing                                                         CNY common

Company Limited                                                                         shares

China Securities Finance                                                              CNY common

Corporation Limited                                                                     shares

Bank of China Co., Ltd. – Baijiu

index classification securities                                                       CNY common

investment fund by China                                                                shares

Merchants Fund

Bank of China Co., Ltd.-Blue

                                                                                      CNY common

chip selected hybrid securities                                      21,900,000.00                   21,900,000.00

                                                                                        shares

investment fund by E Fund

Industrial and Commercial

                                                                                      CNY common

Bank of China Co., Ltd.-Newly                                        14,974,300.00                   14,974,300.00

                                                                                        shares

growth hybrid securities

                                                                         Q1 2023 Report of Luzhou Laojiao Co., Ltd.

 investment fund by Invesco

 Great Wall

 Central Huijin Asset                                                               CNY common

 Management Co., Ltd.                                                                 shares

 Agricultural Bank of China Co.,

 Ltd. - Consumption industry                                                        CNY common

 stock - based securities                                                             shares

 investment fund by E Fund

 China Life Insurance Company

 Limited-Tradition-common                                                           CNY common

 insurance product-005L-                                                              shares

 CT001 Hu

                                                   Group Co., Ltd. are both holding state-owned companies under

                                                   the jurisdiction of SASAC of Luzhou. The two companies signed

                                                   the agreement of persons acting in concert on 31 December

                                                   Company on 5 January 2016 - Announcement on the agreement

                                                   of persons acting in concert signed by shareholders. The

                                                   announcement number is 2016-1 (http://www.cninfo.com.cn/). The

 Related parties or acting-in-concert              two companies signed the renewed agreement of persons acting

                                                   in concert on 27 May 2021. For details, please refer to the

                                                   announcement of the Company on 29 May 2021 - Announcement

                                                   on the renewed agreement of persons acting in concert signed by

                                                   shareholders. The announcement number is 2021-18

                                                   (http://www.cninfo.com.cn/).

                                                   remaining shareholders or they belong to persons acting in

                                                   concert is unknown.

 Top 10 shareholders participating in securities

                                                   N/A

 margin trading (if any)

shareholders

□Applicable  N/A

Applicable □ N/A

On 29 December 2022, the Proposal on the Grant of Reserved Restricted Shares to Awardees was

deliberated and approved at the 26th Meeting of the 10th Board of Directors and the 15th Meeting of

the 10th Supervisory Committee, respectively. On 16 February 2023, the Company disclosed the

Announcement on the Completion of the Grant of Reserved Restricted Shares of the 2021 Restricted

Share Incentive Plan, Announcement No. 2023-3 (http://www.cninfo.com.cn/). Upon the registration of

the grant of the reserved restricted shares, 92,669 restricted shares were granted to 17 awardees,

the grant price was CNY 89.466 per share and the listing date was 17 February 2023. Upon

completion of the grant registration, the total number of shares of the Company increased from

                                                              Q1 2023 Report of Luzhou Laojiao Co., Ltd.

Prepared by: Luzhou Laojiao Co., Ltd.

                                                                                         Unit: CNY

                  Item                   31 March 2023                     31 December 2022

 Current assets:

 Cash and cash equivalents                      24,904,396,779.21                   17,757,528,211.25

 Settlement reserves

 Lending funds

 Held-for-trading financial assets                 994,733,129.68                    1,073,466,780.37

 Derivative financial assets

 Notes receivables

 Accounts receivables                                9,285,469.39                        5,939,420.78

 Accounts receivables financing                  4,296,561,115.37                    4,583,352,503.37

 Prepayment                                        149,186,102.82                      114,257,506.26

 Premiums receivable

 Reinsurance accounts receivable

 Reinsurance contract reserve

 Other receivables                                  24,716,827.85                       23,396,533.98

 Including:Interests receivable

             Dividends receivable

 Buying back the sale of financial

 assets

 Inventories                                    10,149,595,444.19                    9,840,742,374.85

 Contract assets

 Assets held for sale

 Non-current assets due within one

 year

 Other current assets                              204,560,549.82                      153,035,946.94

 Total current assets                           40,733,035,418.33                   33,551,719,277.80

 Non-current assets:

 Disbursement of loans and advances

 Investments in debt obligations

 Investments in other debt obligations

 Long-term receivables

 Long-term equity investments                    2,720,053,188.10                    2,667,500,553.17

 Investments in other equity

 instruments

 Other non-current financial assets

 Investment property                                38,808,444.86                       39,149,454.22

 Fixed assets                                    8,717,953,946.28                    8,856,258,598.78

 Construction in progress                        1,022,552,627.45                      808,919,047.21

 Productive biological assets

 Oil and gas assets

 Use right assets                                   33,806,143.19                       39,952,525.63

 Intangible assets                               3,076,898,287.68                    3,083,271,852.79

 Development expenses

 Goodwill

 Long-term deferred expenses                           491,790.36                          710,010.92

 Deferred tax assets                               818,059,096.08                    1,005,167,353.80

 Other non-current assets                          196,593,102.48                      196,095,702.09

                                                       Q1 2023 Report of Luzhou Laojiao Co., Ltd.

Total non-current assets                 17,608,380,985.21                   17,833,762,076.72

Total assets                             58,341,416,403.54                   51,385,481,354.52

Current liabilities:

Short-term loans

Borrowings from the central bank

Loans from other banks

Held-for-trading financial liabilities

Derivative financial liabilities

Notes payable

Accounts payable                          2,260,191,342.13                     2,311,665,585.04

Advance from customer

Contract liabilities                      1,725,765,760.12                    2,566,374,718.76

Financial assets sold for repurchase

Deposits from customers and inter-

bank

Customer brokerage deposits

Securities underwriting brokerage

deposits

Employee benefits payable                   402,461,910.95                      675,034,885.31

Taxes payable                             2,154,561,840.04                    3,481,150,728.98

Other payable                             1,271,331,621.49                    1,202,409,278.49

Including:Interests payable

             Dividends payable              16,594,850.58                        16,594,850.58

Handling charges and commissions

payable

Reinsurance accounts payable

Liabilities held for sale

Non-current liabilities due within one

year

Other current liabilities                   224,349,548.80                      333,627,225.47

Total current liabilities                 8,095,480,141.64                   10,652,141,888.68

Non-current liabilities:

Insurance contract reserves

Long-term loans                           9,015,400,000.00                    3,179,600,000.00

Bonds payable                             2,996,500,665.63                    2,996,099,571.86

Including:Preference shares

              Perpetual bonds

Lease liabilities                           29,776,436.69                        29,096,969.66

Long-term payables

Long-term payroll payables

Accrued liabilities

Deferred income                             31,771,468.81                        33,704,323.80

Deferred tax liabilities                   126,751,719.73                       166,043,663.88

Other non-current liabilities

Total non-current liabilities            12,200,200,290.86                    6,404,544,529.20

Total liabilities                        20,295,680,432.50                   17,056,686,417.88

Owners" equity

Share capital                             1,471,987,769.00                    1,471,895,100.00

Other equity instruments

Including: preference shares

             Perpetual bonds

Capital reserves                          4,915,414,592.00                    4,800,154,468.99

Less: treasury stock                        647,312,723.52                      639,021,998.78

Other comprehensive income                  217,909,466.35                      330,751,245.84

Special reserves

Surplus reserves                          1,471,895,100.00                    1,471,895,100.00

General risk reserve

Undistributed profits                    30,484,815,844.90                   26,772,197,213.98

                                                                    Q1 2023 Report of Luzhou Laojiao Co., Ltd.

 Total equity attributable to owners of

 the parent company

 Non-controlling interests                              131,025,922.31                       120,923,806.61

 Total owners" equity                                38,045,735,971.04                    34,328,794,936.64

 Total liabilities and owners" equity                58,341,416,403.54                    51,385,481,354.52

Legal representative:Liu Miao

Person in charge of accounting affairs:Xie Hong

Person in charge of accounting department:Yan Li

                                                                                                  Unit: CNY

                    Item                          Q1 2023                             Q1 2022

 Including: Operating revenue                          7,610,153,819.27                    6,311,964,675.84

             Interest income

             Earned premium

             Fee and commission

 income

  Including: Cost of sales                               906,489,329.36                      856,697,976.98

              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                            934,103,786.18                       657,771,706.36

        Selling and distribution

 expenses

        General and administrative

 expenses

        Research and Development

 expenses

        Financial expenses                              -36,032,609.68                       -52,478,504.30

        Including:Interest expenses                     125,103,651.63                        63,035,341.73

                      Interest income                   163,408,426.49                       116,728,885.54

  Plus: Other income                                      6,947,563.04                          6,022,044.85

      Investment income ("-" for losses)                 58,603,813.25                         -4,938,112.16

      Including: income from

 investment in associates and joint                      54,967,950.44                         -8,515,206.47

 ventures

                  Income from the

 derecognition of financial assets

 measured at amortized cost

          Foreign exchange gains ("-"

 for losses)

          Net gain on exposure hedges

 (“-” for losses)

          Gains from the changes in fair

 values(“-“ for losses)

          Credit impairment losses (“-”

 for losses)

                                                         Q1 2023 Report of Luzhou Laojiao Co., Ltd.

        Impairment losses(“-“ for

losses)

        Gains from disposal of

                                                 -623,989.76                                 0.00

assets("-" for losses)

  Plus: non-operating income                    5,024,545.38                        3,945,467.83

  Less: non-operating expenses                    170,523.97                          162,551.01

total losses)

  Less: income tax expenses                 1,208,293,895.10                      989,104,638.68

operation ("-" for losses)

operation ("-" for losses)

parent company

interests

                                             -113,249,020.72                       -48,933,737.96

comprehensive income

Net of tax from other comprehensive

income to the owner of the parent            -112,841,779.49                       -48,621,605.79

company

cannot reclassified into the profit and      -115,179,464.55                       -36,114,491.38

loss:

indebtedness or net asset of defined

benefit plans

income that cannot be classified into

profit and loss under equity method

investments in other equity                  -115,179,464.55                       -36,114,491.38

instruments

company’s credit risks

that will be reclassified into the profit       2,337,685.06                       -12,507,114.41

and loss

income that will be classified into             2,835,340.65                       -12,125,620.38

profit and loss under equity method

investments in other debt obligations

arising from the reclassification of

financial assets

investments in other debt obligations

translation of foreign currency                  -497,655.59                          -381,494.03

financial statements

Net of tax from other comprehensive

                                                 -407,241.23                          -312,132.17

income to non-controlling interests

Total comprehensive income

attributable to owners of the parent

                                                                     Q1 2023 Report of Luzhou Laojiao Co., Ltd.

 company

 Total comprehensive income

 attributable to non-controlling                            8,856,382.73                         15,261,642.20

 interests

 (1) Basic earnings per share                                       2.53                                  1.96

 (2) Diluted earnings per share                                     2.53                                  1.96

Legal representative:Liu Miao

Person in charge of accounting affairs:Xie Hong

Person in charge of accounting department:Yan Li

                                                                                                    Unit: CNY

                    Item                          Q1 2023                              Q1 2022

 activities

 Cash received from sale of goods

 and rendering of services

 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 from customer

 brokerage deposits

 Refunds of taxes and surcharges                             268,904.22                           2,419,962.72

 Cash received from other operating

 activities

 Subtotal of cash inflows from

 operating activities

 Cash paid for goods purchased and

 services received

 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

 Net increase in lending funds

 Cash paid for interests, handling

 charges and commissions

 Cash paid for policy dividends

 Cash paid to and on behalf of

 employees

                                                      Q1 2023 Report of Luzhou Laojiao Co., Ltd.

Cash paid for taxes and surcharges       4,178,376,070.71                    3,289,405,043.03

Cash paid for other operating

activities

Subtotal of cash outflows from

operating activities

Net cash flows from operating

activities

activities

Cash received from disposal of

investments

Cash received from returns on

investments

Net cash received from disposal of

fixed assets, intangible assets and                                                  19,000.00

other long-term assets

Net cash received from disposal of

subsidiaries and other business units

Cash received from other investing

activities

Subtotal of cash inflows from

investing activities

Cash paid to acquire and construct

fixed assets, intangible assets and       223,117,083.05                       313,715,087.73

other long-term assets

Cash paid for investments                                                      300,000,000.00

Net increase in pledge loans

Net cash paid to acquire subsidiaries

and other business units

Cash paid for other investing

activities

Subtotal of cash outflows from

investing activities

Net cash flows from investing

                                          -120,620,739.53                      -406,554,834.31

activities

activities

Cash received from investors                 8,290,725.74                      636,232,466.00

Including: cash received by

subsidiaries from investments by

minority shareholders

Cash received from borrowings            5,850,000,000.00

Cash received from other financing

activities

Subtotal of cash inflows from

financing activities

Cash paid for debt repayments              10,000,000.00

Cash paid for distribution of

dividends and profits or payment of        95,688,541.67                        52,502,625.00

interest

Including: dividends and profits paid

to minority shareholders by

subsidiaries

Cash paid for other financing

activities

Subtotal of cash outflows from

financing activities

Net cash flows from financing

activities

                                            -3,053,249.05                          -587,251.67

rate on cash and cash equivalents

equivalents

Plus: balance of cash and cash

equivalents at the beginning of the

                                                                  Q1 2023 Report of Luzhou Laojiao Co., Ltd.

 period

 equivalents at the end of the                     24,866,652,979.89                    14,708,892,183.91

 period

Whether the financial statements of this report have been audited by an auditor

□Yes  No

The said financial statements are unaudited by an auditor.

                                                   The Board of Directors of Luzhou Laojiao Co., Ltd.

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