Gujinggong Liquor Aged Original Liquor Interim Report 2019 (Summary) Stock Code: 000596, 200596 Stock Name: Gujing Distillery, Gujing Distillery-B Announcement No. 2019-020 ANHUI GUJING DISTILLERY COMPANY LIMITED
INTERIM REPORT 2019 (SUMMARY)
Part I Important Notes
This Summary is based on the full text of the 2019 Interim Report of Anhui Gujing Distillery Company Limited (together with its consolidated subsidiaries, the “Company”, except where the context otherwise requires). In order for a full understanding of theCompany’s operating results, financial condition and future development plans, investors should carefully read the aforesaid full text, which has been disclosed together with this Summary on the media designated by the China Securities Regulatory Commission (the “CSRC”).
Independentauditor’s modified opinion:
□ Applicable√ Not applicable
Board-approved interim cash and/or stock dividend plan for ordinary shareholders:
□ Applicable√ Not applicable
The Company has no interim dividend plan, either in the form of cash or stock.
Board-approved interim cash and/or stock dividend plan for preferred shareholders:
□ Applicable√ Not applicable
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese versions shall prevail.
Part II Key Corporate Information
1. Stock Profile
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||Gujing Distillery, GujingDistillery-B|||000596, 200596|
|Stock name||Stock code|||
|Stock exchange for stock listing|Shenzhen Stock Exchange||||
|Contact information|Board Secretary||Securities Representative||
|Name|Ye Changqing||Mei Jia||
||Gujing Town, Bozhou City, Anhui Province,P.R.China||Gujing Town, Bozhou City, Anhui Province,P.R.China||
|Office address|||||
|Tel.|（0558）5712231||（0558）5710057||
|E-mail address|gjzqb@gujing.com.cn||gjzqb@gujing.com.cn||

Gujinggong Liquor Aged Original Liquor Interim Report 2019 (Summary) 2. Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes√ No
|||||
|-|-|-|-|
||H1 2019|H1 2018|Change (%)|
|Operating revenue (RMB)|5,988,112,999.09|4,783,083,895.33|25.19%|
|Net profit attributable to the listed|1,248,316,314.01|892,422,337.64||
||||39.88%|
|company’s shareholders (RMB)||||
|Net profit attributable to the listed||||
|company’s shareholders before exceptional|1,165,870,979.10|872,348,474.12|33.65%|
|gains and losses (RMB)||||
|Net cash generated from/used in operating|1,041,733,748.83|668,946,891.61||
||||55.73%|
|activities (RMB)||||
|Basic earnings per share (RMB/share)|2.48|1.77|40.11%|
|Diluted earnings per share (RMB/share)|2.48|1.77|40.11%|
|Weighted average return on equity (%)|16.71%|13.94%|2.77%|
||30 June 2019|31 December 2018|Change (%)|
|Total assets (RMB)|12,520,063,624.92|12,509,928,449.72|0.08%|
|Equity attributable to the listed company’s|8,094,900,338.59|7,601,984,024.58||
||||6.48%|
|shareholders (RMB)||||

3. Shareholders and Their Holdings as at 30 June 2019
Unit: share
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|-|-|-|-|-|-|-|-|-|
|||||||Number of preferred|||
|Number of ordinary shareholders|||20,504|||shareholders with resumed|0||
|||||||voting rights (if any)|||
|Top 10 shareholders|||||||||
|Name of|Nature of|Shareholding||Number of|||Shares in pledge or frozen||
||||||Restricted shares||||
|shareholder|shareholder|percentage||shares|||Status|Shares|
|ANHUIGUJINGGROUPCOMPANYLIMITED|State-ownedlegal person|53.89%||271,404,022|||||
||||||||In pledge|114,000,000|
|GAOLINGFUND,L.P.|Foreign legalperson|2.47%||12,446,408|||||
|AGRICULTURAL BANK OFCHINA- EFUNDCONSUMPTION SECTORSTOCKSECURITIESINVESTMENTFUND|Other|2.15%||10,838,286|||||
|HONG KONGSECURITIESCLEARINGCOMPANYLTD.|Foreign legalperson|1.75%||8,816,700|||||
|CHINA INT'LCAPITALCORP HONG|Foreign legalperson|1.73%||8,714,643|||||

Gujinggong Liquor Aged Original Liquor Interim Report 2019 (Summary)
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|-|-|-|-|
|KONGSECURITIESLTD||||
|NORGESBANK|Foreign legalperson|1.59%|8,027,356|
|UBS (LUX)EQUITY FUND- CHINAOPPORTUNITY (USD)|Foreign legalperson|1.40%|7,068,861|
|CENTRALHUIJIN ASSETMANAGEMENT CO., LTD.|State-ownedlegal person|1.30%|6,543,600|
|GREENWOODS CHINAALPHAMASTERFUND|Foreign legalperson|1.12%|5,657,150|
|INDUSTRIALANDCOMMERCIAL BANK OFCHINALIMITED-JINGSHUNGREATWALLEMERGINGGROWTHHYBRIDSECURITIESINVESTMENTFUND|Other|0.95%|4,774,497|
|||Among the shareholders above, the Company’s controlling shareholder—Anhui Gujing Group||
|||Company Limited—is not a connected party of other shareholders; nor are they parties acting in||
|Related or acting-in-concert||concert as defined in the Administrative Measures on Information Disclosure of Changes in||
|parties among the shareholders||Shareholding of Listed Companies. As for the other shareholders, the Company does not know||
|above||whether they are connected parties or whether they belong to parties acting in concert as defined||
|||in the Administrative Measures on Information Disclosure of Changes in Shareholding of Listed||
|||Companies.||
|Shareholders involved in||||
|||N/A||
|securities margin trading (if any)||||

4. Change of the Controlling Shareholder or the Actual Controller in the Reporting Period
Change of the controlling shareholder in the Reporting Period:
□ Applicable√ Not applicable
The controlling shareholder remained the same in the Reporting Period.
Change of the actual controller in the Reporting Period:
□ Applicable√ Not applicable
The actual controller remained the same in the Reporting Period.
5. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable√ Not applicable
No preferred shareholders in the Reporting Period.
Gujinggong Liquor Aged Original Liquor Interim Report 2019 (Summary) 6. Corporate bonds
Does the Company have any corporate bonds publicly offered on the stock exchange, which were outstanding before the date of thisReport’s approval or were due but could not be redeemed in full?
No.
Part III Operating Performance Discussion and Analysis
1. Business Overview of the Reporting Period
Is the Company subject to any industry-specific disclosure requirements?
No.
In the first half of 2019,China’s economy saw progress amid stability, with the financial condition continuously improving and the level of interest rates maintaining a downward trend. As for the liquor and spirits industry, growth further slowed down.
Under the common efforts of the Board and all the staff, for the six months from January to June 2019, the Company recorded operating revenue of RMB5,988 million, up25.19% compared to the same period of last year; and a net profit attributable to the Company as the parent of RMB1,248 million, representing a year-on-year growth of39.88%, Net operating cash flow was 1.042 billion , an increase of55.73% over the same period last year.. As such, the operating goals that the Company had set for the first half of 2019 at the beginning of the year were all accomplished. To achieve that, the Company took the following main measures in the Reporting Period:① continuously strengthening branding with more investments to carry forward the brand revitalization programme;② promoting digital marketing for smarter corporatemanagement;③ proactively exploring internal innovation mechanism to build “small-and-micro platforms” and profit centres;④ enhancing safety and environmental management to ensure safe, smooth and orderly production;⑤ improving corporate culture by promoting party committee-management integration. 2. Matters Related to Financial Reporting
(1) Changes to Accounting Policies, Accounting Estimates or Measurement Methods Compared to the Last Accounting Period
√ Applicable□ Not applicable
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|-|-|-|
|Contents of changes in accounting policies|||
||Approval procedures|Note|
|and reasons thereof|||
|The Ministry of Finance issued the Notice|||
|on Revising and Issuing of Formats of|||
|2019 Financial Statements for General|||
|Enterprises (CK[2019]No.6) (hereinafter|||
|referred to as “Revising Notice”) on 30||For details, please refer to the|
||Reviewed and approved on the 10th||
|April 2019, in which the formats of|||
|||announcement on changes in accounting|
|financial statements for general enterprises|Meeting of the 8th Board of Directors and||
|||policies disclosed on|
|are revised and non-financial enterprises|the 9th Meeting of the 8th Supervisory||
|||http://www.cninfo.com.cn|
|carrying out accounting standards for|Committee||
|business enterprises are required to prepare|||
|the financial statements for 2019, H1 of|||
|2019 and subsequent periods in accordance|||
|with provisions stipulated in accounting|||
|standards for business enterprises and the|||

Gujinggong Liquor Aged Original Liquor Interim Report 2019 (Summary)
||
|-|
|Revising Notice. The Company belongs to|
|the company that has implemented the new|
|standards governing financial instruments|
|but not carried out the new standards|
|governing revenue and new standards|
|governing leases. The Company adjusted|
|the formats of financial statements and|
|presentation of some items as required by|
|the Revising Notice.|

(2) Retrospective Restatements due to the Correction of Material Accounting Errors in the Reporting Period
□ Applicable√ Not applicable
No such cases.
(3) Changes to the Scope of Consolidated Financial Statements Compared to the Last Accounting Period√ Applicable□ Not applicable
Principal
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|Name ofsubsidiary||Principal|Place ofregistration||The Company’s interest (%)|||How the subsidiary wasobtained|
|||place ofbusiness||Business nature|Direct||Indirect||
|Hubei YellowCrane TowerBeverageCo., Ltd.|Xianning,Hubei||Xianning,Hubei|Commerce andtrade||51.00||Incorporated withinvestment|