2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Yantai Changyu Pioneer Wine Co. Ltd.
2017 the First Quarter Report
2017-Final 02
April 2017
2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. I. Important Notice
The board ofdirectors，the board ofsupervisors，directors, supervisors& senior managers of the Company collectively and individually accept full responsibility for thetruthfulness， accuracy and completeness of the information contained in this report and confirm that to the best of their knowledge and belief there are no unfaithful facts, significant omissions or misleading statements.
All directors attended the meeting for deliberating this quarter report.
Mr. Sun Liqiang (Chairman of the Company), Mr. Leng Bin (Chief Financial Officer) and Mr. Jiang Jianxun (Financial Director) assure the truthfulness, accuracy and completeness of the financial report in the quarter report.
2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.II、Corporate Information
1. Key accounting data and financial indicators
Whether the Company makes retroactive adjustments or restates the accounting data of previous fiscal years.
□ Yes V No
|||||
|-|-|-|-|
|||The same period of|More or less than last|
|Item|The report period|||
|||last year|year (%)|
|Business income (CNY)|1,896,586,469|1,882,230,620|0.76%|
|Net profit attributed to the|516,634,494|542,806,719||
|shareholders of the listed|||-4.82%|
|company (CNY)||||
|Net profit attributed to the||||
|shareholders of the listed||||
||512,684,945|538,762,161|-4.84%|
|company after deducting the||||
|irregular profit and loss (CNY)||||
|Net cash flows from the|384,358,508|605,256,456||
||||-36.50%|
|operating activities (CNY)||||
|Basic earnings per share|0.75|0.79||
||||-5.06%|
|(CNY)||||
|Diluted earnings per share|0.75|0.79||
||||-5.06%|
|(CNY)||||
|Weighted average for earning||||
||6.10%|6.93%|-0.83%|
|rate of the net assets||||
||The end of the||More or less than last|
|||The end of last year||
||report period||year (%)|
|Total assets (CNY)|11,857,812,108|11,528,077,971|2.86%|
|Net Assets attributed to the|8,727,017,524|8,209,010,989||
|shareholders of the listed|||6.31%|
|company (CNY)||||

Details of irregular profit and loss
V Yes□ No
Unit：CNY
||||
|-|-|-|
||From beginning of year||
|Item||Explanation|
||to end of report period||
|Gain on disposal of non-current assets, including|||
||-21,933||
|the reversal of accrued impairment provision|||
|Government grants credited in profit and loss|||
|(except for those recurring government grants|||
|that are closely related to the entity's operation,|3,725,036||
|in line with related regulations and have proper|||
|basis of calculation)|||
|Other non-operating income and expenses|1,246,917||

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|Less: Income tax effect|1,000,471||
|Total|3,949,549|--|

The reasons shall be made clear and definitely as to the irregular profit and loss that the Company has defined by virtue of the Explanatory Announcement on PublicCompany’s Information Disclosure No.1 - Irregular Profit and Loss and as to regarding the irregular profit and loss as recurrent profit and loss as specified in the Explanatory Announcement on PublicCompany’s Information Disclosure No.1 - Irregular Profit and Loss.
□Available V Not available
There is no situation regarding the non-recurring profit and loss as defined and specified in the Explanatory Announcement on PublicCompany’s Information Disclosure No.1 - Non-recurring Profit and Loss as recurrent profit and loss.
2. The total number of shareholders and top 10 shareholders at the end of the report period 1) The number of the common shareholders and preferred shareholders with recovered voting power as well as the shareholding of top 10 shareholders
Unit: share
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||42,254||Total number of|||0|||
|Total number of common||||preferred||||||
|shareholders at the end of report||||shareholders with recov||||||
|period||||ered voting power at the||||||
|||||end of report period||||||
|The top 10 common shareholders||||||||||
|||||||Number||Pledged or||
||Character of||Percentage|||of||frozen||
|Name of Shareholders|||||Shares held|||||
||shareholders||(%)|||restricted||Share|Amo|
|||||||shares||status|unt|
|YANTAI CHANGYU GROUPCOMPANY LIMITED|Domestic non-state-ownedlegal person||50.40%||345,473,856|||||
|CHINA SECURITIES FINANCECORP|State-ownedlegal person||2.32%||15,924,155|||||
|GAOLING FUND,L.P.|Foreign legalperson||3.11%||21,300,919|||||
|BBH BOS S/A FIDELITY FD -CHINA FOCUS FD|Foreign legalperson||2.22%||15,241,826|||||
|TIANAN PROPERTYINSURANCE CO., LTD—BAOYING NO.1|Domestic non-state-ownedlegal person||1.24%||8,519,160|||||
|NORGES BANK|Foreign legalperson||0.90%||6,147,993|||||
|GUOTAI JUNANSECURITIES(HONGKONG)LIMITED|Foreign legalperson||0.76%||5,208,208|||||
|CENTRAL HUIJIN ASSETMANAGEMENT LTD.|State-ownedlegal person||0.69%||4,761,200|||||
|FIDELITY PURITAN TRUST:FIDELITY SERIES INTRINSIC|Foreign legalperson||0.60%||4,115,481|||||

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
|||||||||
|-|-|-|-|-|-|-|-|
|OPPORTUNITIES FUND||||||||
|BBH A/C VANGUARDEMERGING MARKETS STOCKINDEX FUND MASTER FUND|Foreign legalperson||0.55%||3,788,487|||
|The top 10 common shareholders with unrestricted shares||||||||
|Name of Shareholders||||Number of||Type of share||
|||||unrestricted||Type of|Amount|
|||||shares held||share||
|YANTAI CHANGYU GROUP COMPANYLIMITED||||345,473,856||A share|345,473,856|
|CHINA SECURITIES FINANCE CORP||||15,924,155||A share|15,924,155|
|GAOLING FUND,L.P.||||21,300,919||B share|21,300,919|
|BBH BOS S/A FIDELITY FD - CHINA FOCUS FD||||15,241,826||B share|15,241,826|
|TIANAN PROPERTY INSURANCE CO., LTD—BAOYING NO.1||||8,519,160||A share|8,519,160|
|NORGES BANK||||6,147,993||B share|6,147,993|
|GUOTAI JUNAN SECURITIES(HONGKONG)LIMITED||||5,208,208||B share|5,208,208|
|CENTRAL HUIJIN ASSET MANAGEMENT LTD.||||4,761,200||A share|4,761,200|
|FIDELITY PURITAN TRUST: FIDELITY SERIESINTRINSIC OPPORTUNITIES FUND||||4,115,481||B share|4,115,481|
|BBH A/C VANGUARD EMERGING MARKETSSTOCK INDEX FUND MASTER FUND||||3,788,487||B share|3,788,487|
|||Among the top 10 shareholders, Yantai Changyu Group||||||
|The explanation for the associated||||||||
|||Company Limited has no associated relationship or accordant||||||
|relationship and accordant action||||||||
|||action relationship with the other 9 listed shareholders, and the||||||
|of the top 10 shareholders||||||||
|||relationship among the other shareholders is unknown.||||||
|Explanation for the top 10||||||||
|common shareholders who||||||||
|||No||||||
|involved in financing activities||||||||
|and stock trading business(if any)||||||||

Whether or not theCompany’s top 10 common shareholders and top 10 common shareholders with unrestricted shares promise to buy back trading during the report period
□ Yes√ No
There are no top 10 common shareholders and top 10 common shareholders with unrestricted shares in the Company promise to buy back trading during the report period.
2) The total number of the preferred shareholders and top 10 preferred shareholders at the end of the report period
□Available V Not available
2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. III Major Issue
1. Great changes and reasons on main accountant data and financial index
√Available □Not available
Compared the end of the report period with the beginning of the report period: notes receivable increases by128.57%, mainly due to the growth on bank acceptances; accounts receivable increases by14%, mainly due to the expansion ofCompany’s direct-selling business and increase ofclients’ sales amount on credit; advance payment increases by74.05%, mainly due to the growth of
advances payment for raw material procurement; other current assets increases by46.86%, mainly due to the growth of pending deduction of VAT input tax; inventory decreases by17.09%, mainly due that the sales of products result in the reduce of inventory and materials; notes payable
decreases by69.15%, mainly due that the notes payable amount is paid during the report period; accounts payable decreases by36.52%, mainly because accounts payable amount is paid during the report period; other accounts payable increases by20.87%, mainly due to the growth of marketing expenses such as advertising fee payable.
Compared with the same period of last year: the net amount of other comprehensive income after- tax increases by85.30%, the net amount of other comprehensive income after-tax attributable to owner of the parent company and other comprehensive income that will be reclassified into profit and loss later increase by87.16%, mainly due to the growth of foreign currency financial statement converting balance of theCompany’s subordinate overseas enterprises; net amount of cash flows generated in operating activities decreases by36.50%, mainly because of decline of received cash from production sales and rendering of service, as well as the growth of cash payment for various taxes; subtotal cash inflow in investment activities decreases by51.13%, mainly due to the
reduction of regaining of the fixed deposit whose duration is more than three-month; cash received from debts decreases by86.98%, mainly due to the decline of bank loan; subtotal of cash outflow in capital-raising activities reduces by76.37%, mainly due to the decrease in the cash paid for debt repayment; net amount of cash flow generated in capital-raising activities decreases by90.95%, mainly due to the decline of bank loan; net increase of cash and cash equivalents reduces by63.10%, mainly because of declines of received cash from production sales, rendering of service and bank loan.
2. Analysis explanation of the majorissue’s process, its influence and the solution
□Available V Not available
3. The commitments that theCompany’s actual controllers, shareholders, related parties, purchasers, the Company and other related parties do not implement completely
exceeding the time limit within report period
√available □not available
2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
|||||||||
|-|-|-|-|-|-|-|-|
||Commitment|Commitment|Commitment|Commitment|Commitment|||
|Commitments|||||||Implementation|
||Party|Type|content|time|period|||
|Commitments atshare reform||||||||
||-||－|||||
|Commitmentsmade inacquisitionreport or equitychanges report||||||||
||-||-||-||-|
|Commitments atassetrestructuring||||||||
||-||-||-||-|
|Commitments atthe initial publicoffering orrefinancing|Yantai|Solve||||||
||Changyu|horizontal||||||
||||Non-horizontal||||Has been|
||Group Co.,|competition||1997.05.18|Permanent|||
||||competition||||performing|
||Ltd|||||||
|||Clear the|According to|||||
|||purpose of|"Trademark|||||
|||brand royalty|License|||||
||||Contract", the|||||
||||Company will|||||
||||pay trademark|||||
||||royalty for the|||||
||||"Changyu"produ|||||
||Yantai|||||||
||||cts of Yantai|||||
||Changyu|||||||
||||Changyu Group||||Has been|
||Group Co.,|||1997.05.18|Permanent|||
||||Co., Ltd every||||performing|
||Ltd|||||||
||||year, Yantai|||||
||||Changyu Group|||||
||||Co., Ltd will use|||||
||||trademark to|||||
||||advertise|||||
||||Changyu|||||
||||trademarks and|||||
||||the Contract|||||
||||products.|||||
|Equity incentivecommitments||||||||
|Commitmentsmade to theminorityshareholders ofthe Company||||||||
||-||-||-||-|
|Commitment||||||||
|under timely||||||||
||Yes|||||||
|implementation||||||||
|or not||||||||
|For commitments that exceed the time limit and are not completed, specific reasons of not||||||No||
|completing the implementation and the next step||||||||

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 4. Forecast on the operating performance in the period from January to June of 2017
Warning and explanation for the estimation on the possible loss of cumulative net profit in the period from the beginning of this year to the end of the next report period or the great change comparing with same period of last year.
□Available V Not available
5. The situation of security investment
□Available V Not available
There is no security investment during the report period.
6. The situation of derivative investment
□Available V Not available
There is no derivative investment during the report period.
7. The activities registration form of receptions, communication and interview etc. during the report period
□Available V Not available
There are no activities of receptions, communication and interview etc. during the report period. 8. The situation of illegal external guarantee
□Available V Not available
There is no illegal external guarantee during the report period.
9. The situation of non-operating fund occupation of controlling shareholders and related parties
□Available V Not available
There is no non-operating fund occupation of controlling shareholders and related parties during the report period.
2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.Ⅳ Financial Statements
1. Financial statements
1) Consolidated balance sheet
Yantai Changyu Pioneer Wine Co. Ltd. Unit: CNY
|||||||
|-|-|-|-|-|-|
||ITEM||At 31 March 2017||At 31 December 2016|
||Current assets：|||||
|Monetary fund|Monetary fund|1,632,676,308||1,391,517,607||
|Financial assets which are measured by fair valueand which changes are recorded in current profitand loss||||||
|Derivative financial liability||||||
|Notes receivable||481,064,037||210,470,027||
|Account receivable||197,296,359||173,062,628||
|Advance money||3,786,732||2,175,606||
|Interest receivable||0||24,200||
|Dividend receivable||||||
|Other account receivable||16,348,542||18,880,800||
|Inventories||1,864,341,209||2,248,609,740||
|Assets held for sale||2,000,197||2,000,197||
|Non-current assets due within one year||||||
|Other current assets||248,952,482||169,522,242||
|Total current assets||4,446,465,866||4,216,263,047||
||Non-current assets：|||||
|Financial assets for sale|Financial assets for sale|348,270||340,263||
|Investment held to expiration||||||
|Long-term account receivable||||||
|Long-term equity investment||||||
|Real estate for investment||||||
|Fixed assets||4,648,604,785||4,683,187,493||
|Construction in progress||1,517,900,866||1,346,281,737||
|Project material||0||0||
|Liquidation of fixed assets||0||0||
|Biological assets for production||205,637,694||201,428,980||
|Oil and gas assets||||||
|Intangible assets||479,979,318||483,815,080||
|Development expenditure||||||
|Goodwill||121,265,866||121,265,866||
|Long-term deferred expenses||151,936,811||162,206,229||
|Assets of deferred income tax||268,201,057||295,937,037||

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
|||||
|-|-|-|-|
|Other non-current assets||17,471,575|17,352,239|
|Total non-current assets||7,411,346,242|7,311,814,924|
|Total assets||11,857,812,108|11,528,077,971|
|Current liabilities:||||
|Short-term loan||662,801,477|662,388,882|
||Financial liabilities which are measured by fair|||
||value and which changes are recorded in current|||
||profit and loss|||
|Derivative financial liability|Derivative financial liability|||
|Notes payable||12,000,000|38,900,000|
|Accounts payable||346,103,278|545,231,319|
|Advance money||376,769,534|425,246,421|
|Wage payable||166,566,373|206,431,734|
|Tax payable||124,611,054|144,042,600|
|Interest payable||566,307|563,613|
|Dividend payable||||
|Other accounts payable||660,333,659|546,305,310|
|Liabilities held for sale||||
|Non-current liabilities due within one year||66,680,673|71,799,093|
|Other current liabilities||11,163,883|11,163,883|
|Total current liabilities||2,427,596,238|2,652,072,855|
||Non-current liabilities：|||
|Long-term loan|Long-term loan|89,616,540|49,140,555|
|Bond payable||||
|Including: Preferred stock||||
|Perpetual capital securities||||
|Long-term accounts payable||293,000,000|293,000,000|
|Long-term wages payable||||
||Special accounts payable|||
|Deferred income|Deferred income|99,132,457|101,775,243|
|Liabilities of deferred income tax||23,379,303|24,908,410|
|Other non-current liabilities||7,696,222|7,696,222|
|Total non-current liabilities||512,824,522|476,520,430|
|Total liabilities||2,940,420,760|3,128,593,285|
||Shareholder rights and interests：|||
||Share capital|685,464,000|685,464,000|
|Other equity instrument|Other equity instrument|||
|Including: Preferred stock||||
|Perpetual capital securities||||
|Capital public reserve||565,955,441|565,955,441|
|Less: Inventory shares||||
|Other comprehensive Income||-3,886,973|-5,259,014|
|Reasonable reserve||||

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|Surplus reserve|342,732,000|342,732,000|
|Provision of general risk|||
|Retained profit|7,136,753,056|6,620,118,562|
|Total owner’s equity attributable to parent Company|8,727,017,524|8,209,010,989|
|Minority interests|190,373,824|190,473,697|
|Total owner's equity|8,917,391,348|8,399,484,686|
|Total liabilities and owner's equity|11,857,812,108|11,528,077,971|

 Legal representative: Sun Liqiang Person in charge of accounting : Leng Bin Person in charge of accounting organ: Jiang Jianxun 2) Balance sheet of parent company
Unit: CNY
||||||
|-|-|-|-|-|
|Item||At 31 March 2017||At 31 December 2016|
|Current assets：|||||
|Monetary fund|560,162,806||269,460,060||
|Financial assets which are measured by fair valueand which changes are recorded in current profitand loss|||||
|Derivative financial liability|||||
|Notes receivable|118,106,029||1,114,200||
|Account receivable|3,428,541||3,326,683||
|Advance money|1,974,645||702,647||
|Interest receivable|0||24,200||
|Dividend receivable|404,788,001||531,819,113||
|Other account receivable|3,711,085,879||3,582,532,862||
|Inventories|393,037,603||792,732,418||
|Assets held for sale|2,000,197||2,000,197||
|Non-current assets due within one year|||||
|Other current assets|27,178,088||20,085,058||
|Total current assets|5,221,761,789||5,203,797,438||
|Non-current assets：|||||
|Financial assets for sale|||||
|Investment held to expiration|||||
|Long-term account receivable|||||
|Long-term equity investment|1,834,341,541||1,834,341,541||
|Real estate for investment|0||0||
|fixed assets|338,840,340||347,481,417||
|Construction in progress|2,075,003||500,000||
|Project material|0||0||
|Liquidation of fixed assets|0||0||
|Biological assets for production|122,216,622||123,036,693||
|Oil and gas assets|0||0||
|Intangible assets|71,407,584||72,002,372||

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
|||||
|-|-|-|-|
|Development expenditure||0|0|
|Goodwill||0|0|
|Long-term deferred expenses||0|0|
|Assets of deferred income tax||17,878,166|26,985,252|
|Other non-current assets||2,731,906,376|2,617,457,460|
|Total non-current assets||5,118,665,632|5,021,804,735|
|Total assets||10,340,427,421|10,225,602,173|
|Current liabilities:||||
|Short-term loan||500,000,000|500,000,000|
||Financial liabilities which are measured by fair|||
||value and which changes are recorded in current|||
||profit and loss|||
|Derivative financial liability|Derivative financial liability|||
|Notes payable||||
|Accounts payable||104,412,844|247,568,857|
|Advance money||6,000,000|6,000,000|
|Wage payable||56,258,526|70,812,761|
|Tax payable||15,554,981|33,266,225|
|Interest payable||566,307|563,613|
|Dividend payable||0|0|
|Other accounts payable||622,025,608|368,310,362|
|Liabilities held for sale||0|0|
|Non-current liabilities due within one year||29,488,400|29,227,200|
|Other current liabilities||1,767,053|1,767,054|
|Total current liabilities||1,336,073,719|1,257,516,072|
||Non-current liabilities：|||
|Long-term loan|Long-term loan||-|
|Bond payable||||
|Including: Preferred stock||||
|Perpetual capital securities||||
|Long-term accounts payable||||
|Long-term wages payable||||
||Special accounts payable|||
|Deferred income|Deferred income|19,428,754|19,933,699|
|Liabilities of deferred income tax||||
|Other non-current liabilities||2,499,403|2,499,403|
|Total non-current liabilities||21,928,157|22,433,102|
|Total liabilities||1,358,001,876|1,279,949,174|
||Shareholder rights and interests：|||
||Share capital|685,464,000|685,464,000|
|Other equity instrument|Other equity instrument|0|0|
|Including: Preferred stock||0|0|
|Perpetual capital securities||0|0|

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
||557,222,454|557,222,454|
||0|0|
||0|0|
||0|0|
||342,732,000|342,732,000|
||7,397,007,091|7,360,234,545|
|Total owner's equity|8,982,425,545|8,945,652,999|
|Total liabilities and owner's equity|10,340,427,421|10,225,602,173|

 3) Consolidated profit statement
Unit: CNY
||||
|-|-|-|
||Three months ended 31|Three months ended 31|
|Item|||
||March 2017|March 2016|
|I. Total Operating Revenue|1,896,586,469|1,882,230,620|
|Incl: Operating Revenue|1,896,586,469|1,882,230,620|
|II. Total Operating Cost|||
||1,211,081,443|1,167,560,487|
|Incl:Operating Cost|||
||636,501,146|605,388,600|
|Tax and levies on operations|110,070,692|97,663,734|
|Selling expenses|390,557,653|390,313,786|
|Administrative expenses|68,123,359|69,048,398|
|Finance expenses|5,828,593|5,145,969|
|Impairment losses of Assets|-|-|
|Add：Gains on increase in fair value of assets|-|-|
|Investment income|-|-|
|Incl. Investment income from affiliates|-|-|
|III.Operating profit|685,505,026|714,670,133|
|Add：Non-operating income|5,021,623|5,214,481|
|Including: Disposal earnings of non-current asset|2,585|94,567|
|Less：Non-operating expenses|71,603|158,857|
|Incl. Losses from disposal of non-current assets|24,517|21,839|
|IV.Total Profit before Taxation|690,455,046|719,725,757|
|Less：Income tax|174,172,291|176,813,048|
|V.Net profit after Taxation|516,282,755|542,912,709|
|Net profit attributable to Parent company|516,634,494|542,806,719|
|Net profit attributable to Minority interest|-351,739|105,990|
|VI. Net after-tax of other comprehensive income|1,623,907.00|11,045,624.00|
|Net after-tax of other comprehensive income|||
||1,372,041.00|10,681,557.00|
|attributable to owners of parent company|||
|(I) Other comprehensive income items which will|||
||-|-|
|not be reclassified subsequently to profit of loss|||
|1. Changes as a result of re-measurement of net|||
||-|-|
|defined benefit plan liability or asset|||
|2. Share of the other comprehensive income of the|||
|investee accounted for using equity method which|||
||-|-|
|will not be reclassified subsequently to profit and|||
|loss|||

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|(II) Other comprehensive income items which|||
||1,372,041.00|10,681,557.00|
|will be reclassified subsequently to profit or loss|||
|1. Share of the other comprehensive income of the|||
|investee accounted for using equity method which|-|-|
|will be reclassified subsequently to profit or loss|||
|2. Gains or losses arising from changes in fair|||
||-|-|
|value of available-for-sale financial assets|||
|3. Gains or losses arising from reclassification of|||
|held-to-maturity investment as available-for-sale|-|-|
|financial assets|||
|4. The effect hedging portion of gains or losses|||
||-|-|
|arising from cash flow hedging instruments|||
|5. Translation differences arising on translation of|||
||1,372,041|10,681,557|
|foreign currency financial statements|||
|6. Other|-|-|
|Net after-tax of other comprehensive income|||
||251,866|364,067|
|attributable to minority shareholders|||
|VII. Total comprehensive income|517,906,662|553,958,333|
|Total comprehensive income attributable to|||
||518,006,535|553,488,276|
|owners of parent Company|||
|Total comprehensive income attributable to|||
||-99,873.00|470,057.00|
|minority shareholders|||
|VIII. Earnings per share:|||
|(i) Basic earnings per share|0.75|0.79|
|(ii) Diluted earnings per share|0.75|0.79|

 During this report period, the issue relates to company consolidation under common control, consolidated party completes net profit amount of CNY 0 before being consolidated, and consolidated party completes net profit amount of CNY 0 in the same period of last year.
Legal representative: Sun Liqiang Person in charge of accounting: Leng Bin Person in charge of accounting organ: Jiang Jianxun 4) Profit statement of parent company
Unit: CNY
||||
|-|-|-|
||Three months ended 31|Three months ended 31|
|Item|||
||March 2017|March 2016|
|I.Sales Revenue|698,458,930|429,102,315|
|less：Cost of sales|611,883,847|323,773,053|
|Tax and levies on operations|45,787,579|47,351,215|
|Selling and distribution expenses|||
|General and administrative expenses|20,418,872|39,984,821|
|Finance expenses|4,922,061|6,317,441|
|Impairment losses of Assets|-|-|
|Add：Gains on increase in fair value of assets|-|-|
|Investment income|24,861,144|506,737,526|
|Incl. Investment income from affiliates|-|-|
|II.Operating profit|||
||40,307,715|518,413,311|
|Add：Non-operating income|466,924|562,752|
|Including: Disposal earnings of non-current|-|94,567|

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|asset|||
|Less：Non-operating expenses|31,626|36,839|
|Incl. Losses from disposal of non-current assets|11,641|21,839|
|III.Total Profit before Taxation|40,743,013|518,939,224|
|Less：Income tax|3,970,467|3,050,424|
|IV.Net profit after Taxation|36,772,546|515,888,800|
|V. Net after-tax of other comprehensive income|-||
|Net after-tax of other comprehensive income|||
||-||
|attributable to owners of parent company|||
|(I) Other comprehensive income items which will|||
||-||
|not be reclassified subsequently to profit of loss|||
|1. Changes as a result of re-measurement of net|||
||-||
|defined benefit plan liability or asset|||
|2. Share of the other comprehensive income of the|||
|investee accounted for using equity method which|||
||-||
|will not be reclassified subsequently to profit and|||
|loss|||
|(II) Other comprehensive income items which will|||
||-||
|be reclassified subsequently to profit or loss|||
|1. Share of the other comprehensive income of the|||
|investee accounted for using equity method which|-||
|will be reclassified subsequently to profit or loss|||
|2. Gains or losses arising from changes in fair value|||
||-||
|of available-for-sale financial assets|||
|3. Gains or losses arising from reclassification of|||
|held-to-maturity investment as available-for-sale|-||
|financial assets|||
|4. The effect hedging portion of gains or losses|||
||-||
|arising from cash flow hedging instruments|||
|5. Translation differences arising on translation of|||
||-||
|foreign currency financial statements|||
|6. Other|-||
|VI. Total comprehensive income|36,772,546|515,888,800|
|VII. Earnings per share:|||
|(i) Basic earnings per share|0.05|0.75|
|(ii) Diluted earnings per share|0.05|0.75|

 Legal representative: Sun Liqiang
Person in charge of accounting : Leng Bin Person in charge of accounting organ: Jiang Jianxun
2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 5) Consolidated cash flow statement
Unit: CNY
||||
|-|-|-|
||Three months ended 31|Three months ended|
|Item|||
||March 2017|31 March 2016|
|1. Cash flows from operating activities:|||
|Cash received from sales of goods and rending of services|1,653,469,554|1,852,141,728|
|Tax refund received||1,092,133|
|Other cash received related to operating activities|35,857,955|5,343,373|
|Subtotal of cash flows of operating activities|1,689,327,509|1,858,577,234|
|Cash paid for goods and services|424,736,589|444,239,863|
|Cash paid to and on behalf of employees|137,940,254|127,947,911|
|Cash paid for various taxes|564,277,054|482,676,851|
|Other cash paid related to operating activities|178,015,104|198,456,153|
|Sub-total of cash outflows of operating activities|1,304,969,001|1,253,320,778|
|Net cash flow from operating activities|384,358,508|605,256,456|
|2. Cash flow from investing activities:|||
|Cash received from return of investment|||
|Fixed deposit with the term of over 3 months|3,000,000|6,000,000|
|Cash received from obtaining investment profit|||
|Cash received from interest income|25,550|21,433|
|Net cash received from disposal of fixed assets, intangible|||
|assets and other long-term assets|30,300|231,240|
|Net cash received from disposal of branch and other business|||
|unit|||
|Other cash received related to investing activities|||
|Subtotal of cash flows of investment activities|3,055,850|6,252,673|
|Cash paid to acquire fixed assets, intangible assets and other|||
|long-term assets|142,789,698|172,593,131|
|Fixed deposit with the term of over 3 months|5,000,000|7,007,000|
|Cash for investment|||
|Net cash paid to acquire branch and other business unit||760,824|
|Other cash paid related to investment activities|||
|Subtotal of cash outflows of investment activities|147,789,698|180,360,955|
|Net cash flow from investing activites|-144,733,848|-174,108,282|
|3.Cash flow from financing activites|||
|Cash received from acquiring investment|||
|Including: cash received from acquiring minority|||
|shareholders investment by branch|||
|Cash received from acquiring loans|51,803,310|397,881,779|
|Other cash received related to finaning activities|||
|Subtotal cash flows of financing activities|51,803,310|397,881,779|
|Cash paid to pay debts|18,643,560|101,108,029|
|Cash paid to distribute dividend, profit or pay interest|6,949,153|7,186,699|
|Including: dividend and profit paid to minority shareholders|||
|by branch|||
|Other cash paid related to financing activities|||
|Subtotal of cash outflows of financing activities|25,592,713|108,294,728|
|Net cash flow from financing activites|26,210,597|289,587,051|
|4. Influences of exchange rate fluctuation on cash and cash|||
|equivalents|197,614|252,077|
|5. Net Increase in cash and cash equivalents|266,032,871|720,987,302|
|Add: balance at the beginning of the period of cash and|||
|cash equivalents|1,256,942,304|1,092,241,661|

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|6.Balance at the end of the period of cash and cash|||
|equivalents|1,522,975,175|1,813,228,963|

 Legal representative: Sun Liqiang Person in charge of accounting : Leng Bin Person in charge of accounting organ: Jiang Jianxun 6) Cash flow statement of parent company
Unit: CNY
||||
|-|-|-|
||Three months ended 31|Three months ended|
|Item|||
||March 2017|31 March 2016|
|1. Cash flows from operating activities:|||
|Cash received from sales of goods and rending of services|422,763,453|429,685,962|
|Tax refund received|||
|Other cash received related to operating activities|198,360,050|160,725|
|Subtotal of cash flows of operating activities|621,123,503|429,846,687|
|Cash paid for goods and services|163,847,294|183,441,735|
|Cash paid to and on behalf of employees|33,712,684|44,615,485|
|Cash paid for various taxes|145,925,056|61,696,240|
|Other cash paid related to operating activities|17,540,294|1,025,733,883|
|Sub-total of cash outflows of operating activities|361,025,328|1,315,487,343|
|Net cash flow from operating activities|260,098,175|-885,640,656|
|2. Cash flow from investing activities:|||
|Cash received from return of investment|||
|Fixed deposit with the term of over 3 months|3,000,000|6,000,000|
|Cash received from obtaining investment profit|92,701,945|1,097,942,213|
|Net cash received from disposal of fixed assets, intangible|||
|assets and other long-term assets||231,240|
|Net cash received from disposal of branch and other business|||
|unit|||
|Other cash received related to investing activities|||
|Subtotal of cash flows of investment activities|95,701,945|1,104,173,453|
|Cash paid to acquire fixed assets, intangible assets and other|||
|long-term assets|1,875,090|10,535,307|
|Fixed deposit with the term of over 3 months|5,000,000|7,007,000|
|Cash for investment|55,192,710||
|Net cash paid to acquire branch and other business unit|||
|Other cash paid related to investment activities|||
|Subtotal of cash outflows of investment activities|62,067,800|17,542,307|
|Net cash flow from investing activites|33,634,145|1,086,631,146|
|3.Cash flow from financing activites|||
|Cash received from acquiring investment|||
|Including: cash received from acquiring minority|||
|shareholders investment by branch|||
|Cash received from acquiring loans||100,000,000|
|Other cash received related to finaning activities|||
|Subtotal cash flows of financing activities||100,000,000|
|Cash paid to pay debts||100,000,000|
|Cash paid to distribute dividend, profit or pay interest|5,055,403|6,857,499|
|Including: dividend and profit paid to minority shareholders|||
|by branch|||
|Other cash paid related to financing activities|||
|Subtotal of cash outflows of financing activities|5,055,403|106,857,499|
|Net cash flow from financing activites|-5,055,403|-6,857,499|
|4. Influences of exchange rate fluctuation on cash and cash|||

2017 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|equivalents|||
|5. Net Increase in cash and cash equivalents|288,676,917|194,132,991|
|Add: balance at the beginning of the period of cash and cash|||
|equivalents|238,003,198|143,798,080|
|6.Balance at the end of the period of cash and cash equivalents|526,680,115|337,931,071|

 Legal representative: Sun Liqiang Person in charge of accounting : Leng Bin Person in charge of accounting organ: Jiang Jianxun 2. Audit report
Whether the 1st quarter report has been audited.
□Yes √No
The first quarter report has not been audited.
Yantai Changyu Pioneer Wine Co. Ltd. Board of Directors 28th
April 2017