2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd. Yantai Changyu Pioneer Wine Co. Ltd.
2015 First Quarter Report
2015-Final02
April 2015
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.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.
Alldirectors attended the meeting fordeliberating thisquarter 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 inthe annual report.
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.II、Key financial data and shareholders changing
1. Keyfinancial data
Whether the Companymakes retroactive adjustments orrestates the accountingdata ofprevious fiscal years.
□ Yes V No
|||||
|-|-|-|-|
|Item|The report period|The same periodoflast year|Moreor less thanlast year(%)|
|Business income (CNY)|1,825,212,207.00|1,508,515,994.00|20.99%|
|Net profit attributed totheshareholders ofthe listedcompany (CNY)|530,248,397.00|457,522,651.00|15.90%|
|Net profit attributed totheshareholders ofthe listedcompany after deducting theirregular profit andloss (CNY)|526,745,613.00|454,655,350.00|15.86%|
|Net cash flows fromtheoperating activities (CNY)|697,396,327.00|706,507,223.00|-1.29%|
|Basic earnings pershare(CNY)|0.77|0.67|14.93%|
|Diluted earnings per share(CNY)|0.77|0.67|14.93%|
|Weightedaverage forearningrate ofthe net assets|7.46%|6.64%|0.82%|
||The endof thereport period|The end oflast year|Moreor less thanlast year(%)|
|Totalassets (CNY)|9,719,260,222.00|8,912,232,640.00|9.06%|
|Net Assets attributed to theshareholders ofthe listedcompany (CNY)|7,365,209,920.00|6,840,452,145.00|7.67%|

Details of irregular profit andloss
V Yes□ No
Unit：CNY
||||
|-|-|-|
|Item|Frombeginningof yeartoend ofreport period|Explanation|
|Government grants credited in profit and loss(except for those recurring government grantsthat are closely related to the entity's operation,in line with related regulations and have properbasis ofcalculation)|3,411,679.00||
|Other non-operating income and expenses|1,061,714.00||
|Less: Income taxeffect|970,609.00||
|Total|3,502,784.00|--|

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd. 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 andLoss.
□Available V Not available
There isnosituation regarding the non-recurring profit and loss as definedand specified inthe Explanatory AnnouncementonPublicCompany’s Information Disclosure No.1 -Non-recurring Profitand Loss as recurrent profit and loss.
2. The total number of shareholders andtop 10shareholders atthe end of the report period 1) The total number ofthe common shareholders and top10common shareholders at the endof the report period
Unit:share
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|Total number of commonshareholders||Total43,16928852Shareholders ofA shares14317Shareholders ofB shares|||||||||
|The top10common shareholders|||||||||||
|Name of Shareholders|Character ofshareholders||Percentage(%)||Shares held||Numberofrestrictedshares||Pledged orfrozen||
||||||||||Sharestatus|Amount|
|YANTAICHANGYUGROUPCOMPANYLIMITED|Domesticnon-state-ownedlegalperson||50.40%||345,473,856||0|||0|
|GAOLINGFUND,L.P.|Foreignshareholder||3.53%||24,176,997||0|||0|
|BBHBOSS/AFIDELITYFD-CHINAFOCUSFD|Foreignshareholder||2.35%||16,106,326||0|||0|
|GICPRIVATELIMITED|Foreignshareholder||1.45%||9,913,484||0|||0|
|MORGANSTANLEY&CO.INTERNATIONALPLC|Foreignshareholder||0.67%||4,620,321||0|||0|
|NORGESBANK|Foreignshareholder||0.66%||4,511,246||0|||0|
|BBHA/CVANGUARDEMERGINGMARKETSSTOCKINDEXFUND|Foreignshareholder||0.56%||3,846,587||0|||0|
|FIDELITYCHINASPECIALSITUATIONSPLC|Foreignshareholder||0.55%||3,779,202||0|||0|
|FIDELITYFUNDS|Foreignshareholder||0.53%||3,644,429||0|||0|
|GREENWOODSCHINAALPHAMASTERFUND|Foreignshareholder||0.52%||3,588,951||0|||0|
|The top10common shareholders with unrestricted shares|||||||||||
|Name ofShareholders||||Number ofunrestricted||Type of share|||||
|||||||Type of||Amount|||

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||||
|-|-|-|-|-|
|||shares held|share||
|YANTAICHANGYUGROUPCOMPANYLIMITED||345,473,856|Ashare|345,473,856|
|GAOLINGFUND,L.P.||24,176,997|Bshare|24,176,997|
|BBHBOSS/AFIDELITYFD-CHINAFOCUSFD||16,106,326|Bshare|16,106,326|
|GICPRIVATELIMITED||9,913,484|Bshare|9,913,484|
|MORGANSTANLEY&CO.INTERNATIONALPLC||4,620,321|Bshare|4,620,321|
|NORGESBANK||4,511,246|Bshare|4,511,246|
|BBHA/CVANGUARDEMERGINGMARKETSSTOCKINDEXFUND||3,846,587|Bshare|3,846,587|
|FIDELITYCHINASPECIALSITUATIONSPLC||3,779,202|Bshare|3,779,202|
|FIDELITYFUNDS||3,644,429|Bshare|3,644,429|
|GREENWOODSCHINAALPHAMASTERFUND||3,588,951|Bshare|3,588,951|
|The explanation forthe associatedrelationship andaccordant actionofthe top10shareholders|Among the top10shareholders, Yantai Changyu GroupCompany Limitedhas noassociated relationship oraccordantaction relationship with theother 9listedshareholders, andtherelationship among theother shareholders isunknown.||||
|Explanation for thetop10common shareholders whoinvolved infinancing activitiesand stock tradingbusiness(if any)|No||||

Whether ornottheCompany’s top10common shareholders and top10common shareholders with unrestricted shares promise tobuyback trading duringthe report period
□Yes√ No
There isnotop10common shareholders andtop10common shareholders withunrestricted shares inthe Company promise tobuybacktrading duringthe reportperiod.
2) The total number ofthe preferred shareholders andtop 10preferred shareholders at the end of the report period
□Available V Not available
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd. III Major Issue
1. The Great Change and Reasons on MainAccountant Data andFinancial Index
√Available □Not available
Compared theend of thereport periodwith thebeginningof thereport period, monetary capital increasesby37.51%,mainlydue tothe increased returned sales money; notes receivable increasesby241.38%,mainlydue tothe growthonbankacceptances; account receivables increasesby30.34%,mainlydue tothe expansion ofCompany’s direct-selling business and increase ofclients’sales amount oncredit; interest receivable increasesby37.33%,mainlydue toincreased interest receivables ondeposit; advance paymentincreasesby75.27%,mainlydue tothe growth of advances onsales from clients.Duringthereport period, sales revenue
increasesby20.99% ona year-on-year basis, mainlydue toincreased sales volume ofproducts, especially middle-end dry wineproducts; selling expense increasesby26.93% ona year-on- year basis, mainly due tothe expansion ofdirect-selling business; financial expense increases by40.85% onayear-on-year basis, mainlydue tothe decline inthe income ofinterest ondeposit. 2. Analysis explanation ofthe majorissue’s process, its influence and the solution
□Available V Not available
3. The commitments ofthe Companyor shareholders ofthe Companyholdingmore than5%in the report period or until the report period
√available □not available
|||||||
|-|-|-|-|-|-|
|Commitments|CommitmentParty|Commitment content|Commitmenttime|Commitmentperiod|Implementation|
|Commitments at sharereform|-|－|-|-|-|
|Commitments made inacquisition report orequity changes report|-|-||-|-|
|Commitments at assetrestructuring|-|-||-|-|
|Commitments at theinitialpublic offeringorrefinancing|YantaiChangyuGroup Co., Ltd|NonIntra-industrycompetition|1997.05.18|Permanent|Has beenperformed|
|||According to"Trademark LicenseContract", the Companywill pay trademarkroyaltyfor the"Changyu"products ofYantai Changyu GroupCo., Ltdevery year,Yantai Changyu GroupCo., Ltdwilluse|1997.05.18|Forever|Has beenperformed|

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||||
|-|-|-|-|-|
|||trademark toadvertiseChangyutrademarksand theContractproducts.|||
|Commitments made tothe minorityshareholders oftheCompany|-|-|-|-|
|Commitment undertimely implementationornot|Yes||||
|Specific reasons ofnotcompleting theimplementation andthe next step|No||||

4. Forecast onthe operating performance intheperiod from January to June of2015
Warning and explanation for the estimation onthepossible loss ofcumulative net profit inthe period fromthe beginning ofthis year to the end ofthe next reportperiod or thegreat change comparing with same period oflast year.
□Available V Not available
5. The situation ofsecurity investment
□Available V Not available
There isnosecurity investment during thereport period.
6. Explanation for the situation of holding other listedcompany’s shareholding
□Available V Not available
There isnoholding otherlistedcompany’s shareholdingduring thereport period.
7. The situation ofderivative investment
□Available V Not available
There isnoderivative investment duringthe report period.
8.The activities registration formof receptions, communication andinterview etc. during the report period
□Available V Not available
There isnoactivities ofreceptions, communication and interview etc. duringthe reportperiod.
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.Ⅳ Financial Statements
1、Financial statements
1)、Consolidatedbalancesheet
YantaiChangyuPioneerWineCo.Ltd. Unit:CNY
||||
|-|-|-|
|Item|At31March 2015|At31December2014|
|Currentassets：|||
|Monetaryfund|1,574,940,993|1,145,365,071|
|Financial assets which aremeasured by fair value and whichchanges are recorded in currentprofitandloss|||
|Derivativefinancialliability|||
|Notesreceivable|472,187,453|138,315,319|
|Accountreceivable|189,865,830|145,672,411|
|Advancemoney|8,200,711|8,073,786|
|Interestreceivable|4,970,565|3,619,429|
|Dividendreceivable|||
|Otheraccountreceivable|47,371,822|31,362,302|
|Inventories|1,890,603,447|2,087,376,398|
|Assetsheldforsale|||
|Non-current assets due withinoneyear|||
|Othercurrentassets|18,829,681|29,662,076|
|Totalcurrentassets|4,206,970,502|3,589,446,792|
|Non-currentassets：|||
|Financialassetsforsale|||
|Investmentheldtoexpiration|||
|Long-termaccountreceivable|||
|Long-termequityinvestment|||
|Realestateforinvestment|||
|fixedassets|2,523,345,907|2,532,682,355|
|Constructioninprogress|1,919,140,288|1,700,466,500|
|Projectmaterial|||
|Liquidationoffixedassets|||
|Biological assets forproduction|150,724,726|151,723,241|
|Oilandgasassets|||
|Intangibleassets|450,281,643|452,951,194|

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||
|-|-|-|
|Developmentexpenditure|||
|Goodwill|13,112,525|13,112,525|
|Long-termdeferredexpenses|212,017,621|201,911,605|
|Assetsofdeferredincometax|227,915,405|254,186,823|
|Othernon-currentassets|15,751,605|15,751,605|
|Totalnon-currentassets|5,512,289,720|5,322,785,848|
|Totalassets|9,719,260,222|8,912,232,640|
|Currentliabilities:|||
|Short-termloan|300,000,000|300,000,000|
|Financial liabilities which aremeasured by fair value and whichchanges are recorded in currentprofitandloss|||
|Derivativefinancialliability|||
|Notespayable|10,000,000|10,000,000|
|Accountspayable|448,755,177|357,811,822|
|Advancemoney|377,058,303|215,127,598|
|Wagepayable|129,137,912|158,948,592|
|Taxpayable|51,900,227|87,504,048|
|Interestpayable|3,325,716|3,475,641|
|dividendpayable|||
|Otheraccountspayable|576,876,935|469,804,317|
|Liabilitiesheldforsale|||
|Non-current liabilities duewithinoneyear|||
|Othercurrentliabilities|12,398,717|12,398,718|
|Totalcurrentliabilities|1,909,452,987|1,615,070,736|
|Non-currentliabilities：|||
|Long-termloan|200,376,800|209,380,000|
|Bondpayable|||
|Including:preferredstock|||
|Perpetualcapitalsecurities|||
|Long-termaccountspayable|||
|Long-termwagespayable|||
|Specialaccountspayable|||
|Deferredincome|72,925,313|76,024,992|
|Liabilitiesofdeferredincometax|4,556,071|4,565,636|
|Othernon-currentliabilities|3,998,352|3,998,352|
|Totalnon-currentliabilities|281,856,536|293,968,980|
|Totalliabilities|2,191,309,523|1,909,039,716|

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||
|-|-|-|
|Shareholderrightsandinterests：|||
|Sharecapital|685,464,000|685,464,000|
|Otherequityinstrument|||
|Including:preferredstock|||
|Perpetualcapitalsecurities|||
|Capitalpublicreserve|563,139,042|563,139,042|
|Less:Inventoryshares|||
|OthercomprehensiveIncome|-8,293,893|-2,803,271|
|Reasonablereserve|||
|Surplusreserve|342,732,000|342,732,000|
|Provisionofgeneralrisk|||
|Retainedprofit|5,782,168,771|5,251,920,374|
|Total owner’s equity attributabletoparentCompany|7,365,209,920|6,840,452,145|
|Minorityinterests|162,740,779|162,740,779|
|Totalowner'sequity|7,527,950,699|7,003,192,924|
|Totalliabilitiesandowner'sequity|9,719,260,222|8,912,232,640|

 Legalrepresentative:SunLiqiang Personinchargeofaccounting:LengBinPersoninchargeofaccountingorgan:JiangJianxun
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.2)、Balancesheetofparentcompany
YantaiChangyuPioneerWineCo.Ltd. Unit:CNY
||||
|-|-|-|
|Item|At31March 2015|At31December2014|
|Currentassets：|||
|Monetaryfund|407,764,203|496,138,263|
|Financial assets which aremeasured by fair value and whichchanges are recorded in currentprofitandloss|||
|Derivativefinancialliability|||
|Notesreceivable|281,063,659|98,158,251|
|Accountreceivable||1,516,518|
|Advancemoney|914,047|1,710,787|
|Interestreceivable|4,970,565|3,580,811|
|Dividendreceivable|402,596,884|402,596,884|
|Otheraccountreceivable|4,714,579,104|4,708,836,276|
|Inventories|630,209,703|681,696,774|
|Assetsheldforsale|||
|Non-current assets due withinoneyear|||
|Othercurrentassets|10,347,112|14,996,807|
|Totalcurrentassets|6,452,445,277|6,409,231,371|
|Non-currentassets：|||
|Financialassetsforsale|||
|Investmentheldtoexpiration|||
|Long-termaccountreceivable|||
|Long-termequityinvestment|1,093,437,027|1,093,437,027|
|Realestateforinvestment|||
|fixedassets|395,176,137|403,210,655|
|Constructioninprogress|98,189|182,765|
|Projectmaterial|||
|Liquidationoffixedassets|||
|Biological assets forproduction|92,168,055|83,631,722|
|Oilandgasassets|||
|Intangibleassets|76,165,890|76,760,678|
|Developmentexpenditure|||
|Goodwill|||
|Long-termdeferredexpenses|||
|Assetsofdeferredincometax|22,517,566|27,053,571|
|Othernon-currentassets|||

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||
|-|-|-|
|Totalnon-currentassets|1,679,562,864|1,684,276,418|
|Totalassets|8,132,008,141|8,093,507,789|
|Currentliabilities:|||
|Short-termloan|300,000,000|300,000,000|
|Financial liabilities which aremeasured by fair value and whichchanges are recorded in currentprofitandloss|||
|Derivativefinancialliability|||
|Notespayable|||
|Accountspayable|184,284,955|228,052,722|
|Advancemoney|||
|Wagepayable|62,839,149|70,233,251|
|Taxpayable|26,115,327|18,205,124|
|Interestpayable|3,325,716|3,475,641|
|dividendpayable|||
|Otheraccountspayable|1,082,843,139|1,030,604,819|
|Liabilitiesheldforsale|||
|Non-current liabilities duewithinoneyear|||
|Othercurrentliabilities|3,017,898|3,017,898|
|Totalcurrentliabilities|1,662,426,184|1,653,589,455|
|Non-currentliabilities：|||
|Long-termloan|200,376,800|209,380,000|
|Bondpayable|||
|Including:preferredstock|||
|Perpetualcapitalsecurities|||
|Long-termaccountspayable|||
|Long-termwagespayable|||
|Specialaccountspayable|||
|Deferredincome|21,993,440|22,747,915|
|Liabilitiesofdeferredincometax|||
|Othernon-currentliabilities|1,895,828|1,895,828|
|Totalnon-currentliabilities|224,266,068|234,023,743|
|Totalliabilities|1,886,692,252|1,887,613,198|
|Shareholderrightsandinterests：|||
|Sharecapital|685,464,000|685,464,000|
|Otherequityinstrument|||
|Including:preferredstock|||
|Perpetualcapitalsecurities|||

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||
|-|-|-|
|Capitalpublicreserve|557,222,454|557,222,454|
|Less:Inventoryshares|||
|OthercomprehensiveIncome|||
|Reasonablereserve|||
|Surplusreserve|342,732,000|342,732,000|
|Provisionofgeneralrisk|||
|Retainedprofit|4,659,897,435|4,620,476,137|
|Total owner’s equity attributabletoparentCompany|||
|Minorityinterests|||
|Totalowner'sequity|6,245,315,889|6,205,894,591|
|Totalliabilitiesandowner'sequity|8,132,008,141|8,093,507,789|

 Legalrepresentative:SunLiqiang Personinchargeofaccounting:LengBin Personinchargeofaccountingorgan:JiangJianxun
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.3)、Consolidatedprofitstatement
YantaiChangyuPioneerWineCo.Ltd. Unit:CNY
||||
|-|-|-|
|Item|Threemonthsended31March 2015|Threemonthsended31March 2014|
|I.SalesRevenue|1,825,212,207|1,508,515,994|
|less：Costofsales|602,400,431|469,058,043|
|Taxandleviesonoperations|90,171,910|89,008,026|
|Sellinganddistributionexpenses|378,802,990|298,441,169|
|Generalandadministrativeexpenses|62,252,665|58,147,083|
|Financeexpenses|-6,888,723|-11,647,090|
|ImpairmentlossesofAssets|||
|Add：Gainsonincreaseinfairvalueofassets|||
|Investmentincome|||
|Incl.Investmentincomefromaffiliates|||
|II.Operatingprofit|698,472,934|605,508,763|
|Add：Non-operatingincome|4,486,099|3,417,162|
|Including:Disposalearningsofnon-currentasset|||
|Less：Non-operatingexpenses|12,706|6,982|
|Incl.Lossesfromdisposalof non-currentassets|||
|III.TotalProfitbeforeTaxation|702,946,327|608,918,943|
|Less：Incometax|172,697,930|151,396,292|
|IV.NetprofitafterTaxation|530,248,397|457,522,651|
|NetprofitattributabletoParentcompany|530,248,397|457,522,651|
|NetprofitattributabletoMinority interest|||
|V.Netafter-taxofothercomprehensiveincome|-5,490,622||
|Net after-tax of other comprehensive incomeattributabletoownersofparentcompany|-5,490,622||
|(I) Other comprehensive income items which willnotbereclassifiedsubsequentlytoprofitofloss|||
|1. Changes as a result of re-measurement of netdefinedbenefitplanliabilityorasset|||
|2. Share of the other comprehensive income of theinvestee accounted for using equity method whichwill not be reclassified subsequently to profit andloss|||
|(II) Other comprehensive income items which willbereclassifiedsubsequentlytoprofitorloss|-5,490,622||
|1. Share of the other comprehensive income of theinvestee accounted for using equity method whichwillbereclassifiedsubsequentlytoprofitorloss|||
|2. Gains or losses arising from changes in fair valueofavailable-for-sale financialassets|||
|3. Gains or losses arising from reclassification ofheld-to-maturity investment as available-for-sale|||

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||
|-|-|-|
|financialassets|||
|4. The effect hedging portion of gains or lossesarisingfromcashflowhedginginstruments|||
|5. Translation differences arising on translation offoreigncurrencyfinancialstatements|-5,490,622||
|6.Other|||
|Net after-tax of other comprehensive incomeattributabletominorityshareholders|||
|VI.Totalcomprehensiveincome|524,757,775|457,522,651|
|Total comprehensive income attributable to ownersofparentCompany|524,757,775|457,522,651|
|Total comprehensive income attributable tominorityshareholders|||
|VII.Earningspershare:|||
|(i)Basicearningspershare|0.77|0.67|
|(ii)Dilutedearningspershare|0.77|0.67|

 Duringthisreportperiod,theissuerelatestocompanyconsolidationundercommoncontrol,consolidatedpartycompletesnetprofit amountofCNY0beforebeingconsolidated,andconsolidatedpartycompletesnetprofitamountofCNY0inthesameperiodoflast year.
Legalrepresentative:SunLiqiang Personinchargeofaccounting:LengBin Personinchargeofaccountingorgan:JiangJianxun
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.4)、Profitstatementofparentcompany
YantaiChangyuPioneerWineCo.Ltd. Unit:CNY
||||
|-|-|-|
|Item|Threemonthsended31March 2015|Threemonthsended31March 2014|
|I.SalesRevenue|450,781,749|400,540,963|
|less：Costofsales|349,541,377|319,026,288|
|Taxandleviesonoperations|48,892,624|48,514,935|
|Sellinganddistributionexpenses|||
|Generalandadministrativeexpenses|27,804,156|26,741,551|
|Financeexpenses|-17,412,991|-12,343,282|
|ImpairmentlossesofAssets|||
|Add：Gainsonincreaseinfairvalueofassets|||
|Investmentincome|||
|Incl.Investmentincomefromaffiliates|||
|II.Operatingprofit|48,726,869|68,601,471|
|Add：Non-operatingincome|1,578,100|687,088|
|Including:Disposalearningsofnon-currentasset|||
|Less：Non-operatingexpenses|||
|Incl.Lossesfromdisposalof non-currentassets|||
|III.TotalProfit|50,304,969|69,288,559|
|Less：Incometax|10,883,671|4,822,140|
|IV.Netprofit|39,421,298|64,466,419|
|NetprofitattributabletoParentcompany|||
|NetprofitattributabletoMinority interest|||
|V.Netafter-taxofothercomprehensiveincome|||
|Net after-tax of other comprehensive incomeattributabletoownersofparentcompany|||
|(I) Other comprehensive income items which willnotbereclassifiedsubsequentlytoprofitofloss|||
|1. Changes as a result of re-measurement of netdefinedbenefitplanliabilityorasset|||
|2. Share of the other comprehensive income of theinvestee accounted for using equity method whichwill not be reclassified subsequently to profit andloss|||
|(II) Other comprehensive income items which willbereclassifiedsubsequentlytoprofitorloss|||
|1. Share of the other comprehensive income of theinvestee accounted for using equity method whichwillbereclassifiedsubsequentlytoprofitorloss|||
|2. Gains or losses arising from changes in fair valueofavailable-for-sale financialassets|||
|3. Gains or losses arising from reclassification ofheld-to-maturity investment as available-for-sale|||

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||
|-|-|-|
|financialassets|||
|4. The effect hedging portion of gains or lossesarisingfromcashflowhedginginstruments|||
|5. Translation differences arising on translation offoreigncurrencyfinancialstatements|||
|6.Other|||
|Net after-tax of other comprehensive incomeattributabletominorityshareholders|||
|VI.Totalcomprehensiveincome|39,421,298|64,466,419|
|Total comprehensive income attributable to ownersofparentCompany|||
|Total comprehensive income attributable tominorityshareholders|||
|VII.Earningspershare:|||
|(i)Basicearningspershare|0.06|0.09|
|(ii)Dilutedearningspershare|0.06|0.09|

 Legalrepresentative: SunLiqiang
Personinchargeofaccounting:LengBin Personinchargeofaccountingorgan:JiangJianxun
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.5)、Consolidatedcashflowstatement
YantaiChangyuPioneerWineCo.Ltd. Unit:CNY
||||
|-|-|-|
|Item|Threemonthsended31March 2015|Threemonthsended31March 2014|
|1.Cashflowsfromoperatingactivities:|||
|Cashreceivedfromsalesofgoodsandrendingofservices|1,808,838,404|1,668,942,443|
|Taxrefundreceived|||
|Othercashreceivedrelatedtooperatingactivities|5,773,600|2,478,306|
|Subtotalofcashflowsofoperatingactivities|1,814,612,004|1,671,420,749|
|Cashpaidforgoodsandservices|260,654,494|213,166,230|
|Cashpaidtoandonbehalfofemployees|116,601,340|93,307,996|
|Cashpaidfortaxesandexpenses|525,095,241|441,405,465|
|Othercashpaid relatedtooperatingactivities|214,864,602|217,033,835|
|Sub-totalofcashoutflowsofoperatingactivities|1,117,215,677|964,913,526|
|Netcashflowfromoperatingactivities|697,396,327|706,507,223|
|2.Cashflowfrominvestingactivities:|||
|Cashreceivedfromreturnofinvestment|||
|Fixeddepositwiththetermofover3months|4,795,537|141,149,047|
|Cashreceivedfromobtaininginvestmentprofit|||
|Cashreceivedfrominterestincome|156,135|3,787,847|
|Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets|||
|Netcashreceivedfromdisposalofbranchandotherbusinessunit|||
|Othercashreceivedrelatedtoinvestingactivities|||
|Subtotalofcashflowsofinvestmentactivities|4,951,672|144,936,894|
|Cashpaidtoacquirefixedassets,intangibleassetsandotherlong-termassets|257,537,234|207,206,059|
|Fixeddepositwiththetermofover3months||21,097,760|
|Cashforinvestment|||
|Netcashpaidtoacquirebranchandotherbusinessunit|||
|Othercashpaidrelatedtoinvestmentactivities|||
|Subtotalofcashoutflowsofinvestmentactivities|257,537,234|228,303,819|
|Netcashflowfrominvestingactivities|-252,585,562|-83,366,925|
|3.Cashflowfromfinancingactivities|||
|Cashreceivedfromacquiringinvestment|||
|Including:cashreceivedfromacquiringminorityshareholdersinvestmentbybranch|||
|Cashreceivedfromacquiringloans|||
|Othercashreceivedrelatedtofinaningactivities|||
|Subtotalcashflowsoffinancingactivities|||
|Cashpaidtopaydebts|||

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||
|-|-|-|
|Cashpaidtodistributedividend,profitorpayinterest|5,655,312||
|Including:dividendandprofitpaidtominorityshareholdersbybranch|||
|Othercashpaidrelatedtofinancingactivities|||
|Subtotalofcashoutflowsoffinancingactivities|5,655,312||
|Netcashflowfromfinancingactivites|-5,655,312||
|4.Influencesofexchangeratefluctuationoncashandcashequivalents|-4,788,900||
|5.NetIncreaseincashandcashequivalents|434,366,553|623,140,298|
|Add:balanceatthebeginningoftheperiodofcashandcashequivalents|960,472,274|956,558,932|
|6.Balanceattheendoftheperiodofcashandcashequivalents|1,394,838,827|1,579,699,230|

 Legalrepresentative:SunLiqiang Personinchargeofaccounting:LengBin Personinchargeofaccountingorgan:JiangJianxun
2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.6)、Cashflowstatementofparentcompany
YantaiChangyuPioneerWineCo.Ltd. Unit:CNY
||||
|-|-|-|
|Item|Threemonthsended31March 2015|Threemonthsended31March 2014|
|1.Cashflowsfromoperatingactivities:|||
|Cashreceivedfromsalesofgoodsandrendingofservices|162,288,723|321,579,341|
|Taxrefundreceived|||
|Othercashreceivedrelatedtooperatingactivities|21,820,787|12,063,481|
|Subtotalofcashflowsofoperatingactivities|184,109,510|333,642,822|
|Cashpaidforgoodsandservices|127,692,870|140,455,443|
|Cashpaidtoandonbehalfofemployees|43,975,135|45,319,498|
|Cashpaidfortaxesandexpenses|76,313,505|80,131,374|
|Othercashpaid relatedtooperatingactivities|12,432,398|94,727,861|
|Sub-totalofcashoutflowsofoperatingactivities|260,413,908|360,634,176|
|Netcashflowfromoperatingactivities|-76,304,398|-26,991,354|
|2.Cashflowfrominvestingactivities:|||
|Cashreceivedfromreturnofinvestment|||
|Fixeddepositwiththetermofover3months|4,795,537|141,149,047|
|Cashreceivedfromobtaininginvestmentprofit|6,770,286|50,000,000|
|Cashreceivedfrominterestincome|156,135|3,787,847|
|Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets|||
|Netcashreceivedfromdisposalofbranchandotherbusinessunit|||
|Othercashreceivedrelatedtoinvestingactivities|||
|Subtotalofcashflowsofinvestmentactivities|11,721,958|194,936,894|
|Cashpaidtoacquirefixedassets,intangibleassetsandotherlong-termassets|13,345,676|14,775,565|
|Fixeddepositwiththetermofover3months||21,097,760|
|Cashforinvestment|||
|Netcashpaidtoacquirebranchandotherbusinessunit|||
|Othercashpaidrelatedtoinvestmentactivities|||
|Subtotalofcashoutflowsofinvestmentactivities|13,345,676|35,873,325|
|Netcashflowfrominvestingactivities|-1,623,718|159,063,569|
|3.Cashflowfromfinancingactivities|||
|Cashreceivedfromacquiringinvestment|||
|Including:cashreceivedfromacquiringminorityshareholdersinvestmentbybranch|||
|Cashreceivedfromacquiringloans|||
|Othercashreceivedrelatedtofinancingactivities|||
|Subtotalcashflowsoffinancingactivities|||
|Cashpaidtopaydebts|||
|Cashpaidtodistributedividend,profitorpayinterest|5,655,312||

2015theFirstQuarterReportofYantaiChangyuPioneerWineCo.Ltd.
||||
|-|-|-|
|Including:dividendandprofitpaidtominorityshareholdersbybranch|||
|Othercashpaidrelatedtofinancingactivities|||
|Subtotalofcashoutflowsoffinancingactivities|5,655,312||
|Netcashflowfromfinancingactivites|-5,655,312||
|4.Influencesofexchangeratefluctuationoncashandcashequivalents|||
|5.NetIncreaseincashandcashequivalents|-83,583,428|132,072,215|
|Add:balanceatthebeginningoftheperiodofcashandcashequivalents|333,245,466|197,150,989|
|6.Balanceattheendoftheperiodofcashandcashequivalents|249,662,038|329,223,204|

 Legalrepresentative:SunLiqiang Personinchargeofaccounting:LengBin Personinchargeofaccountingorgan:JiangJianxun 2.Audit report
Whetherthe1stquarterreporthasbeenaudited.
□Yes √No
Thefirstquarterreporthasnotbeenaudited.
Yantai Changyu PioneerWine Co.Ltd. Board of Directors 30th April 2015