2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd. Yantai Changyu Pioneer Wine Co., Ltd.
2019 the Third Quarter Report
Final 2019-04
October 2019
2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co., Ltd. I. Important Notice
The board of directors, the board of supervisors, directors, supervisors and senior executives of the Company guarantee the truthfulness, accuracy and completeness of the contents contained in the third quarter report with no false records, misleading statements or significant omissions, and undertake individual and joint legal liabilities.
All directors attended the meeting for deliberating this quarter report.
Mr. Zhou Hongjiang (Person in charge of the Company), Mr. Jiang Jianxun (Person in charge of accounting work) and Mrs. Guo Cuimei (Person in charge of accounting organ& Accountant in charge) assure the truthfulness, accuracy and completeness of the financial statements in the third quarter report.
2019 the Third 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√ No
|||||||
|-|-|-|-|-|-|
||The end of this|The end of last year||More or less than||
||report period|||last year (%)||
|Total assets (CNY)|13,191,032,907.00|13,117,729,052.00||0.56%||
|Net Assets attributed to the||||||
|shareholders of the listed|9,900,902,802.00|9,606,099,365.00||3.07%||
|company (CNY)||||||
||||From the||More or|
|||More or less than|beginning of the||less than|
||This report period|||||
|||last year (%)|year to the end of||last year|
||||this report period||(%)|
|Operating income (CNY)|968,100,175.00|-6.22%|3,526,374,960.00||-8.66%|
|Net profit attributed to the|125,557,834.00|-6.24%||||
|shareholders of the listed|||728,961,623.00||-5.30%|
|company (CNY)||||||
|Net profit attributed to the||||||
|shareholders of the listed||||||
|company after deducting the|119,702,422.00|8.31%|672,193,117.00||-6.28%|
|irregular profit and loss||||||
|(CNY)||||||
|Net cash flow from operating|--|--||||
||||645,331,713.00||-16.93%|
|activities (CNY)||||||
|Basic earnings per share|0.18|-5.26%||||
||||1.06||-5.36%|
|(CNY)||||||
|Diluted earnings per share|0.18|-5.26%||||
||||1.06||-5.36%|
|(CNY)||||||
|Weighted average for earning||||||
||1.31%|-0.12%|7.38%||-0.97%|
|rate of the net assets||||||

Details of irregular profit and loss
√Available□Not available
Unit：CNY
||||
|-|-|-|
||Amount from the||
|Item|beginning of the year to|Explanation|
||the end of report period||
|Gain on disposal of non-current assets, including|||
||-166,664.00||
|the reversal of accrued impairment provision|||
|Government grants credited in profit and loss|||
|(except for those recurring government grants|||
||69,007,365.00||
|that are closely related to the entity's operation,|||
|in line with related regulations and have proper|||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|basis of calculation)|||
|In addition to the effective hedging business|||
|related to the Company’s normal business, the|||
|profit and loss from changes in fair value arising|||
|from the holding of transactional financial assets,|||
|derivative financial assets, transactional financial|||
|liabilities and derivative financial liabilities, and|830,841.00||
|the investment income from disposal of|||
|transactional financial assets, derivative financial|||
|assets, transactional financial liabilities,|||
|derivative financial liabilities and other debt|||
|investments|||
|Other non-operating income and expenses|5,352,597.00||
|Less: Income tax effect|18,196,023.00||
|Minority interests effect(after-tax)|59,610.00||
|Total|56,768,506.00|--|

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√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 the shareholding of top 10 shareholders at the end of the report period
1) The total number of common shareholders and the total number of preferred shareholders with recovered voting power as well as the shareholding of top 10 shareholders
Unit: share
|||||||||
|-|-|-|-|-|-|-|-|
|||42639||Total number of preferred|||0|
|Total number of common||||||||
|||||shareholders with recovered voting power at the end of report period (if have)||||
|shareholders at the end of report||||||||
|period||||||||
|The top 10 common shareholders||||||||
||||||Number|Pledged or||
||||Shareholdin|Number of|of|frozen||
||Character of|||||||
|Name of Shareholders|||g ratio|holding|restricte|||
||shareholders|||||Share|Num|
||||(%)|shares|d|||
|||||||status|ber|
||||||shares|||
|YANTAI CHANGYU GROUPCO. LTD.|Domestic non-state-ownedlegal person||50.40%|345,473,856|0|||
|||||||--|0|
|GAOLING FUND,L.P.|Foreign legalperson||3.08%|21,090,219|0|||
|||||||--|0|
|CHINA SECURITIES|State-ownedlegal person||2.25%|15,440,794|0|||
|||||||--|0|
|FINANCE CORP||||||||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||||||||||
|-|-|-|-|-|-|-|-|-|-|-|
|BBH BOS S/A FIDELITY FD -CHINA FOCUS FD|Foreign legalperson||2.22%||15,241,826||0||||
||||||||||--|0|
|SHENWAN HONGYUANSECURITIES(HONG KONG)LIMITED|Foreign legalperson||1.27%||8,732,233||0||||
||||||||||--|0|
|FIDELITY PURITAN TRUST:FIDELITY SERIES INTRINSICOPPORTUNITIES FUND|Foreign legalperson||0.93%||6,350,762||0||||
||||||||||--|0|
|GUOTAI JUNANSECURITIES(HONGKONG)LIMITED|Foreign legalperson||0.76%||5,207,553||0||||
||||||||||--|0|
|CENTRAL HUIJIN ASSETMANAGEMENT LTD.|State-ownedlegal person||0.69%||4,761,200||0||||
||||||||||--|0|
|VANGUARD EMERGINGMARKETS STOCK INDEXFUND|Foreign legalperson||0.55%||3,788,487||0||||
||||||||||--|0|
|FIDELITY CHINA SPECIALSITUATIONS PLC|Foreign legalperson||0.55%||3,779,202||0||||
|The shareholding of top 10 shareholders with unrestricted shares|||||||||||
|Name of Shareholders||||Number of||Type of share|||||
|||||unrestricted||Type of||Number|||
|||||shares held||share|||||
|YANTAI CHANGYU GROUP CO. LTD.||||345,473,856||A share||345,473,856|||
|GAOLING FUND,L.P.||||21,090,219||B share||21,090,219|||
|CHINA SECURITIES FINANCE CORP||||15,440,794||A share||15,440,794|||
|BBH BOS S/A FIDELITY FD - CHINA FOCUS FD||||15,241,826||B share||15,241,826|||
|SHENWAN HONGYUAN SECURITIES(HONGKONG) LIMITED||||8,732,233|||||||
|||||||B share||8,732,233|||
|FIDELITY PURITAN TRUST: FIDELITY SERIESINTRINSIC OPPORTUNITIES FUND||||6,350,762|||||||
|||||||B share||6,350,762|||
|GUOTAI JUNAN SECURITIES(HONGKONG)LIMITED||||5,207,553|||||||
|||||||B share||5,207,553|||
|CENTRAL HUIJIN ASSET MANAGEMENT LTD.||||4,761,200||A share||4,761,200|||
|VANGUARD EMERGING MARKETS STOCKINDEX FUND||||3,788,487|||||||
|||||||B share||3,788,487|||
|FIDELITY CHINA SPECIAL SITUATIONS PLC||||3,779,202||B share||3,779,202|||
|||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|||||||||||
|shareholders who involved in|||||||||||
|||No|||||||||
|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 conduct agreed buy-back transaction during the report period
□ Yes√ No
2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. There are no top 10 common shareholders or top 10 common shareholders with unrestricted shares in the Company conduct agreed buy-back transaction during the report period.
2) The total number of preferred shareholders and the shareholding of top 10 preferred
shareholders
□Available√Not available
2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. III Major Issue
1. Situation and reasons on changes in main financial data and financial index during the report period
√Available □Not available
Compared the end of the report period with the beginning of the year, Notes Receivable decreases by100%, mainly due to adjustment to Receivables Financing resulting from change in accounting policy; Accounts Receivable decreases by18.12%, mainly due to the reduce in credit sale resulting from the reduce in the direct supply business of sales business; Interest Receivable increases by107.65%, mainly due to the received one-off interest resulting from the expiration of fixed deposit; Accounts Payable decreases by20.34%, mainly owing to the payment of previous debt; Advances From Customers decreases by29.42%, mainly owing to the reduce in accumulated Advances From Customers resulting from the improvement in theCompany’s production efficiency and the shortening of supply period after receiving the payment; Interest Payable increases by389.91%, mainly owing that theCompany’s overseas enterprise need to pay the expired loan interest all at once; Deferred Tax Liabilities decreases by25.15%, mainly owing to the amortization of assets appraisal appreciation resulting from the business combination not under common control.
Compared the first three quarters in 2019 with the same period in last year, Financial Expenses and Interest Expenses respectively decreases by29.91% and29.42%, mainly owing to obtainment of forestry loan with discounted interest this year; Non-operating Income increases by30.57%, mainly owing to the increased waste income including offcut sales etc.
Compared the third quarter in 2019 with the same period in last year, Financial Expenses decreases by26.68%, mainly owing to the increase in Interest Income; Interest Income increases by187.05%, mainly owing to the increase in fixed deposit and call deposit; Other Income decreases by83.38%, mainly owing to the year-on-year decrease in received government grants; Loss for Impairment of Assets increases by739.26%, mainly owing to the loss on inventory valuation.
2. Analysis explanation of the majorissue’s progress as well as its influence and solution□Available√Not available
Implementation progress of share repurchases
□Available√Not available
Implementation progress of reducing repurchased shares by the way of centralized competitive bidding
□Available√Not available
2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 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 the report period
√Available □Not available
||||||||
|-|-|-|-|-|-|-|
||Commitment|Commitment|Commitment|Commitment|Commitment||
|Commitments||||||Implementation|
||Party|Type|content|time|period||
|Commitments atshareholdingreform|||||||
||-||－||||
|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|According to|||License Contract,|
|||||||the trademark use|
||||Trademark||||
|||||||fee annually|
||||License||||
|||||||charged by Yantai|
||||Contract, the||||
|||||||Changyu Group|
||||trademark use fee||||
|||||||Co., Ltd. shall be|
||||annually paid by||||
|||||||mainly used to|
||||this company to||||
|||||||publicize|
||Yantai||||||
||||Yantai Changyu||||
|||||||trademarks|
||Changyu||||||
||||Group Co., Ltd.||||
|||||||including|
||Group Co.,|||1997.05.18|Permanent||
||||will be mainly||||
|||||||Chagnyu and|
||Ltd.||||||
||||used by Yantai|||contractual|
||||Changyu Group|||products. Except|
||||Co., Ltd. to|||2013 to 2017|
||||publicize|||during which the|
||||trademarks|||commitment was|
||||including|||not strictly|
||||Chagnyu and|||performed, Yantai|
||||contractual|||Changyu Group|
||||products.|||Co., Ltd. has been|
|||||||performing the|
|||||||commitment.|
|Equity incentive|||||||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||||
|-|-|-|-|-|
|commitments|||||
|Commitmentsmade to theminorityshareholders ofthe Company|||||
||-|-|-|-|
|Commitment|||||
|under timely|||||
||No||||
|implementation|||||
|or not|||||
||According to the Trademark License Contract (hereafter referred to as “the Contract”), Changyu||||
||Group promises that the trademark use fee annually paid by this Company to Changyu Group shall be||||
||mainly used by Changyu Group to publicize trademarks and contractual products. But above-||||
||mentioned ‘mainly’ is not a specific number, which is easy to cause divergence due to different||||
||understanding and leads to problem appearance during the implementation process.||||
||From 2013 to 2017, Changyu Group collected the total trademark use fee of CNY420,883,902, of||||
||which 51% should be used to publicize trademarks including Changyu and contract products with the||||
|Detailed|||||
||amount of CNY214,650,790. The amount has been used to publicize trademarks including Changyu||||
|explanation for|||||
||and contract products is CNY50,025,181, with a balance of CNY164,625,609. In 2018 and 2019, the||||
|specific reasons of|||||
||collected trademark use fee for 2017 and 2018 is CNY155,623,907, of which 51% should be used to||||
|unimplemented|||||
||publicize trademarks including Changyu and contract products with the amount of CNY79,368,193.||||
|commitment as|||||
||The amount has been used to publicize trademarks including Changyu and contract products is||||
|well as next work|||||
||CNY12,225,187, with a balance of CNY67,143,006.||||
|plan if|||||
||From 2013 to December 31st, 2018, the accumulated balance that should be used by Changyu Group||||
|commitment is|||||
||to publicize trademarks including Changyu and contract products is CNY231,768,615.||||
|not completed in|||||
||Changyu Group promises that the four-year trademark use fee from 2019 to 2022 will be used for||||
|the commitment|||||
||offset. If insufficient, the shortfall would be filled in one time in 2023. If there is any excess, the||||
|period|||||
||excess portion of the trademark use fee would be collected from the year with excess occurrence.||||
||If Changyu Group is not able to implement above-mentioned commitment owing to various reasons,||||
||this Company will timely supervise and urge Changyu Group to fulfill its commitment and request||||
||Changyu Group to raise funds through bank loaning, assets sales and equity sales etc in order to||||
||implement the commitment.||||
||For other details, please refer to Announcement on Commitment Issues of Yantai Changyu Group||||
||Company Limited disclosed by this Company on April 4th, 2019.||||

4. The situation of security investment
□Available√ Not available
There is no security investment during the report period.
5. Entrusted financial management
□Available√ Not available
There is no entrusted financial management during the report period.
6. The situation of derivative investment
□Available√ Not available
There is no derivative investment during the report period.
2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 7. The activity registration form of receptions, communication and interview etc. during the report period
√ Available□Not available
|||||
|-|-|-|-|
|Reception Time|Reception mode|Type of receptionobject|Basic information index ofinvestigation and survey|
|2019.09.06|Other|Individual|Investor Relations ActivityRegistration Form onSeptember 6th, 2019 disclosedby the Company|

8. The situation of illegal external guarantee
□Available√ 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√ Not available
There is no non-operating fund occupation of controlling shareholders and related parties during the report period.
2019 the Third 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|September 30th, 2019|December 31st, 2018|
|Current Assets：|||
|Monetary fund|1,485,486,851.00|1,475,700,477.00|
|petty cash|||
|Lending funds|||
|Transactional financial assets|||
|Financial assets measured by fair value withchanges recorded into current profits and losses|||
|Derivative financial assets|||
|Notes receivable||288,667,988.00|
|Accounts receivable|198,265,958.00|242,153,083.00|
|Receivables Financing|213,036,791.00||
|Accounts prepaid|4,252,695.00|4,219,949.00|
|Premiums receivable|||
|Reinsurance accounts receivable|||
|Receivable reserves for reinsurance contract|||
|Other receivables|21,630,327.00|22,636,086.00|
|Including: Interest receivable|2,767,325.00|1,332,681.00|
|Dividends receivable|||
|Buying back the sale of financial assets|||
|Inventory|2,907,547,242.00|2,724,591,457.00|
|Contract assets|||
|Assets classified as holding for sale|||
|Non-current assets expire in one year|||
|Other current assets|265,584,006.00|258,676,396.00|
|Total Current Assets|5,095,803,870.00|5,016,645,436.00|
|Non-current Assets：|||
|Offering loans and imprest|||
|Debt investment|||
|Financial assets for sale||467,251.00|
|Other debt investment|||
|Held-to-maturity investment|||
|Long-term account receivable|||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Long-term equity investment 43,776,540.00
||||
|-|-|-|
|Investment in other equity instrument|||
|Other non-current financial assets|511,751.00||
|Real estate for investment|30,177,815.00|31,572,489.00|
|Fixed assets|5,612,020,771.00|5,749,731,667.00|
|Construction in progress|867,068,782.00|759,296,591.00|
|Biological assets for production|203,908,753.00|209,266,373.00|
|Oil and gas assets|||
|Right-of-use assets|||
|Intangible assets|650,906,119.00|655,473,459.00|
|Development expenditure|||
|Goodwill|149,437,671.00|165,199,111.00|
|Long-term deferred expenses|273,228,605.00|244,640,416.00|
|Deferred tax assets|264,192,230.00|285,436,259.00|
|Other non-current assets|||
|Total Non-Current Assets|8,095,229,037.00|8,101,083,616.00|
|Total Assets|13,191,032,907.00|13,117,729,052.00|
|Current liabilities：|||
|Short-term loan|687,652,403.00|688,002,410.00|
|Borrowings from the Central Bank|||
|Borrowing funds|||
|Transactional financial liability|||
|Financial liabilities measured by fair valuewith changes recorded into current profits andlosses|||
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|568,467,737.00|713,572,881.00|
|Advances from customers|159,561,019.00|226,075,244.00|
|Sales/buyback financial assets|||
|Customer and interbank deposits|||
|Acting trading securities|||
|Acting underwriting securities|||
|Wage payable|174,007,285.00|212,304,217.00|
|Tax payable|193,650,463.00|128,912,790.00|
|Other accounts payable|606,326,760.00|608,479,890.00|
|Including: Interest payable|3,492,202.00|712,826.00|
|Dividend payable|1,323,735.00||
|Payable handling fees and commission|||
|Dividend payable for reinsurance|||
|Contract liabilities|||
|Liabilities classified as holding for sale|||
|Non-current liabilities expire in one year|170,422,720.00|152,940,788.00|
|Other current liabilities|14,753,257.00|15,860,254.00|
|Total Current Liabilities|2,574,841,644.00|2,746,148,474.00|
|Non-Current Liabilities:|||
|Insurance contract reserve|||
|Long-term borrowings|158,900,681.00|156,480,662.00|

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Bonds payable
||||
|-|-|-|
|Preferred Stock|||
|Perpetual capital securities|||
|Lease liability|||
|Long-term accounts payable|201,000,000.00|225,000,000.00|
|Long-term accrued payroll|||
|Estimated liabilities|||
|Deferred income|60,247,288.00|70,367,039.00|
|Deferred tax liabilities|16,475,961.00|22,010,647.00|
|Other non-current liabilities|7,159,222.00|7,234,853.00|
|Total non-current liabilities|443,783,152.00|481,093,201.00|
|Total liabilities|3,018,624,796.00|3,227,241,675.00|
|Owner’s equity (or shareholders’ equity):|||
|Capital stock|685,464,000.00|685,464,000.00|
|Other equity instruments|||
|Preferred Stock|||
|Perpetual capital securities|||
|Capital reserve|566,209,403.00|565,955,441.00|
|Minus: treasury stock|||
|Other comprehensive income|-16,889,429.00|2,965,377.00|
|Special reserves|||
|Surplus reserve|342,732,000.00|342,732,000.00|
|General risk preparation|||
|Undistributed profits|8,323,386,828.00|8,008,982,547.00|
|Total owner's equity attributable to the holdingcompany|9,900,902,802.00|9,606,099,365.00|
|Minority interests|271,505,309.00|284,388,012.00|
|Total owner's equity|10,172,408,111.00|9,890,487,377.00|
|Total liabilities and owner's equity|13,191,032,907.00|13,117,729,052.00|

Legal representative: Zhou Hongjiang; Person in charge of accounting : Jiang Jianxun; Person in charge of accounting organ: Guo Cuimei
2) Balance sheet of parent company
Unit: CNY
||||
|-|-|-|
|Item|September 30th, 2019|December 31st, 2018|
|Current Assets：|||
|Monetary fund|570,192,493.00|624,588,809.00|
|Transactional financial assets|||
|Financial assets measured by fair value withchanges recorded into current profits and losses|||
|Derivative financial assets|||
|Notes receivable||39,885,254.00|
|Accounts receivable||1,447,973.00|
|Receivables Financing|15,855,750.00||
|Accounts prepaid|3,533.00|227.00|

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Other receivables 601,547,442.00 1,025,643,356.00
||||
|-|-|-|
|Including: Interest receivable|217,553.00|254,088.00|
|Dividends receivable|4,103,925.00|500,000,000.00|
|Inventory|422,486,614.00|385,154,740.00|
|Contract assets|||
|Assets classified as holding for sale|||
|Non-current assets expire in one year|||
|Other current assets|34,571,033.00|24,704,844.00|
|Total Current Assets|1,644,656,865.00|2,101,425,203.00|
|Non-current Assets：|||
|Debt investment|||
|Financial assets for sale|||
|Other debt investment|||
|Held-to-maturity investment|||
|Long-term account receivable|||
|Long-term equity investment|7,429,282,512.00|7,420,803,069.00|
|Investment in other equity instrument|||
|Other non-current financial assets|||
|Real estate for investment|30,177,815.00|31,572,489.00|
|Fixed assets|260,483,702.00|265,311,274.00|
|Construction in progress|6,740,745.00|6,311,701.00|
|Biological assets for production|120,424,630.00|125,002,793.00|
|Oil and gas assets|||
|Right-of-use assets|||
|Intangible assets|65,459,702.00|67,244,066.00|
|Development expenditure|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred tax assets|22,594,502.00|24,194,967.00|
|Other non-current assets|1,229,700,000.00|972,700,000.00|
|Total Non-Current Assets|9,164,863,608.00|8,913,140,359.00|
|Total Assets|10,809,520,473.00|11,014,565,562.00|
|Current liabilities：|||
|Short-term loan|150,000,000.00|150,000,000.00|

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Transactional financial liability
||||
|-|-|-|
|Financial liabilities measured by fair value withchanges recorded into current profits and losses|||
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|30,969,787.00|132,704,304.00|
|Advances from customers|||
|Contract liabilities|||
|Wage payable|60,111,310.00|72,345,179.00|
|Tax payable|3,342,995.00|13,111,431.00|
|Other accounts payable|634,030,378.00|607,974,519.00|
|Including: Interest payable|163,125.00|181,250.00|
|Dividend payable|||
|Liabilities classified as holding for sale|||
|Non-current liabilities expire in one year|||
|Other current liabilities|3,433,054.00|3,433,054.00|
|Total Current Liabilities|881,887,524.00|979,568,487.00|
|Non-Current Liabilities:|||
|Long-term borrowings|||
|Bonds payable|||
|Preferred Stock|||
|Perpetual capital securities|||
|Lease liability|||
|Long-term accounts payable|||
|Long-term accrued payroll|||
|Estimated liabilities|||
|Deferred income|6,601,526.00|8,910,918.00|
|Deferred tax liabilities|||
|Other non-current liabilities|2,951,042.00|2,710,575.00|
|Total non-current liabilities|9,552,568.00|11,621,493.00|
|Total liabilities|891,440,092.00|991,189,980.00|
|Owner’s equity (or shareholders’ equity):|||
|Capital stock|685,464,000.00|685,464,000.00|
|Other equity instruments|||
|Preferred Stock|||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Perpetual capital securities
||||
|-|-|-|
|Capital reserve|557,222,454.00|557,222,454.00|
|Minus: treasury stock|||
|Other comprehensive income|||
|Special reserves|||
|Surplus reserve|342,732,000.00|342,732,000.00|
|Undistributed profits|8,332,661,927.00|8,437,957,128.00|
|Total owner's equity|9,918,080,381.00|10,023,375,582.00|
|Total liabilities and owner's equity|10,809,520,473.00|11,014,565,562.00|

 3) Consolidated profit statement in this report period
Unit: CNY
||||
|-|-|-|
|Item|Amount in this reportperiod|Amount in priorreport period|
|1. Revenue|968,100,175.00|1,032,328,986.00|
|Including: Operating income|968,100,175.00|1,032,328,986.00|
|Interest income|||
|Earned premium|||
|Handling fees and commission income|||
|2. Total operating costs|799,392,634.00|880,955,872.00|
|Including: Operating costs|348,321,823.00|394,965,077.00|
|Interest expenditure|||
|Handling fees and commission expenditure|||
|Premium rebate|||
|Net amount of indemnity expenditure|||
|Net amount of insurance contract reservefund withdrawal|||
|Policy bonus payment|||
|Amortized reinsurance expenditures|||
|Taxes and surcharges|62,058,908.00|45,258,725.00|
|Selling expenses|315,345,327.00|357,743,961.00|
|Administrative expenses|63,818,230.00|68,182,863.00|
|Research and development expenditure|1,149,179.00|2,940,503.00|
|Financial expenses|8,699,167.00|11,864,743.00|
|Including: Interest expenses|9,525,615.00|8,659,111.00|
|Interest income|5,589,246.00|1,947,160.00|
|Plus:Other income|4,795,473.00|28,858,248.00|
|Investment profit (loss is listed with "-")|-128,956.00||
|Including: Investment profit for joint-runbusiness and joint venture|-959,797.00||
|Termination of recognized income offinancial assets measured at amortized cost (loss is listedwith "-")|||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Exchange income (loss is listed with "-")
||||
|-|-|-|
|Net exposure hedging income (Loss islisted with“-”)|||
|Fair value charge profit (loss is listed with "-")|||
|Loss of credit impairment(loss is listed with "-")|-1,417,236.00|0.00|
|Loss for impairment of assets(loss is listed with"-")|-4,457,409.00|-531,111.00|
|Assets disposal income (loss is listed with "-")|-167,802.00|-170,334.00|
|3. Operating profit (loss is listed with "-")|167,331,611.00|179,529,917.00|
|Plus: Non-operating income|2,667,687.00|2,775,336.00|
|Minus: Non-operating expenditure|726,954.00|439,049.00|
|4. Total profits (total loss is listed with "-")|169,272,344.00|181,866,204.00|
|Minus: Income taxes|43,673,789.00|47,969,306.00|
|5. Net profit (net loss is listed with "-")|125,598,555.00|133,896,898.00|
|（一）Classification by continuous operation|||
|1.Net profit from continuous operation(net loss is listedwith "-")|||
|2.Net profit from terminational operation(net loss is listedwith "-")|||
|(二)Classification by ownership|||
|1.Net profits attribute to equity holders of the company|125,557,834.00|133,916,250.00|
|2. Minority interests|40,721.00|-19,352.00|
|6. Net value of other comprehensive income after tax|-16,794,085.00|19,757,123.00|
|6.1 Net value of other comprehensive income after tax ofholding company's owners|-16,794,085.00|16,681,680.00|
|6.1.1 Other comprehensive income that will not beclassified into the profit and loss|||
|6.1.1.1 Changes of the defined benefit plans that re-measured|||
|6.1.1.2 Other comprehensive income under equity methodthat cannot be transfer to gain/loss|||
|6.1.1.3 Change of fair value of investment in other equityinstrument|||
|6.1.1.4 Fair value change of enterprise's credit risk|||
|6.1.1.5 Other|||
|6.1.2 Other comprehensive income that will beclassified into the profit and loss|-16,794,085.00|16,681,680.00|
|6.1.2.1 Other comprehensive income under equity methodthat can transfer to gain/loss|||
|6.1.2.2 Change of fair value of other debt investment|||
|6.1.2.3 gain/loss of fair value changes for available-for-salefinancial assets|||
|6.1.2.4 Amount of financial assets re-classify to othercomprehensive income|||
|6.1.2.5 Gain/loss of held-to-maturity investments that re-classify to ailable-for-sale financial asset|||
|6.1.2.6 Credit impairment provision for other debtinvestmen|||
|6.1.2.7 Cash flow hedging reserve|||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 6.1.2.8 Translation differences arising on translation of
-16,794,085.00 16,681,680.00 foreign currency financial statements
||||
|-|-|-|
|6.1.2.9 Other|||
|6.2 Net value of other comprehensive income after taxof minority shareholders||3,075,443.00|
|7.Total comprehensive Income|108,804,470.00|153,654,021.00|
|Total comprehensive income of holding company|108,763,749.00|150,597,930.00|
|Total comprehensive income of minority shareholders|40,721.00|3,056,091.00|
|8. Earnings per share|||
|8.1 Basic earnings per share|0.18|0.19|
|8.2 Diluted earnings per share|0.18|0.19|

 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: Zhou Hongjiang; Person in charge of accounting: Jiang Jianxun; Person in charge of accounting organ: Guo Cuimei
4) Profit statement of parent company in this report period
Unit: CNY
||||
|-|-|-|
|Item|Amount in thisreport period|Amount in priorreport period|
|1. Revenue|200,488,769.00|185,358,483.00|
|Minus: Operating costs|184,071,670.00|163,922,392.00|
|Taxes and surcharges|10,446,607.00|9,009,093.00|
|Selling expenses|||
|Administrative expenses|16,494,204.00|21,186,737.00|
|Research and development expenditure|206,023.00|500,205.00|
|Financial expenses|-547,440.00|6,173,386.00|
|Including: Interest expenses|2,190,828.00|2,223,333.00|
|Interest income|3,602,659.00|-1,543,446.00|
|Plus:Other income|858,264.00|1,160,677.00|
|Investment profit (loss is listed with "-")|55,000,000.00|79,850,000.00|
|Including: Investment profit for joint-run business andjoint venture|||
|Termination of recognized income of financialassets measured at amortized cost (loss is listed with "-")|||
|Net exposure hedging income (Loss islisted with “-”)|||
|Fair value charge profit (loss is listed with "-")|||
|Loss of credit impairment (loss is listed with "-")|||
|Loss for impairment of assets (loss is listed with "-")|||
|Assets disposal income (loss is listed with "-")|21,901.00|-528.00|

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 2. Operating profit (loss is listed with "-") 45,697,870.00 65,576,819.00
||||
|-|-|-|
|Plus: Non-operating income|122,208.00|812,444.00|
|Minus: Non-operating expenses|748,159.00|299,472.00|
|3. Total profits (total loss is listed with "-")|45,071,919.00|66,089,791.00|
|Minus: Income tax|-181,802.00|-1,834,728.00|
|4. Net profit (net loss is listed with "-")|45,253,721.00|67,924,519.00|
|1.Net profit from continuous operation(net loss is listed with "-")|45,253,721.00|67,924,519.00|
|2.Net profit from terminational operation(net loss is listed with "-")|||
|5. Net value of other comprehensive income after tax|||
|5.1 Other comprehensive income that will not be classified intothe profit and loss|||
|5.1.1 Remeasure the changes in net assets or liabilities of definedbenefit plans|||
|5.1.2 Shares of other comprehensive income from investee whichcannot be reclassified into profit and loss under the equity method|||
|5.1.3 Change of fair value of investment in other equity instrument|||
|5.1.4 Fair value change of enterprise's credit risk|||
|5.1.5 Other|||
|5.2 Other comprehensive income that will be classified into theprofit and loss|||
|5.2.1 Other comprehensive income under equity method that cantransfer to gain/loss|||
|5.2.2 Change of fair value of other debt investment|||
|5.2.3 gain/loss of fair value changes for available-for-salefinancial assets|||
|5.2.4 Amount of financial assets re-classify to othercomprehensive income|||
|5.2.5 Gain/loss of held-to-maturity investments that re-classify toailable-for-sale financial asset|||
|5.2.6 Credit impairment provision for other debt investment|||
|5.2.7 Cash flow hedging reserve|||
|5.2.8 Translation differences arising on translation of foreigncurrency financial statements|||
|5.2.9 Other|||
|6. Total comprehensive income|45,253,721.00|67,924,519.00|
|7. Earnings per share|||
|7.1 Basic earnings per share|0.07|0.10|
|7.2 Diluted earnings per share|0.07|0.10|

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 5) Consolidated profit statement from the beginning of the year to the end of the report period
Unit: CNY
|||||
|-|-|-|-|
|Item||Amount in thisreport period|Amount in priorreport period|
|1. Revenue||3,526,374,960.00|3,860,559,050.00|
|Including: Operating income||3,526,374,960.00|3,860,559,050.00|
|Interest income||||
|Earned premium||||
|Handling fees and commission income||||
|2. Total operating costs||2,618,215,214.00|2,904,626,278.00|
|Including: Operating costs||1,284,574,048.00|1,369,522,369.00|
|Interest expenditure||||
|Handling fees and commission expenditure||||
|Premium rebate||||
|Net amount of indemnity expenditure||||
|Net amount of insurance contract reservefund withdrawal||||
|Policy bonus payment||||
|Amortized reinsurance expenditures||||
|Taxes and surcharges||185,609,756.00|210,534,976.00|
|Selling expenses||907,316,128.00|1,068,402,994.00|
|Administrative expenses||219,370,542.00|226,147,745.00|
|Research and development expenditure||3,855,990.00|5,067,509.00|
|Financial expenses||17,488,750.00|24,950,685.00|
|Including: Interest expenses||19,338,175.00|27,398,639.00|
|Interest income||10,195,663.00|9,193,030.00|
|Plus:Other income||69,007,365.00|66,841,126.00|
|Investment profit (loss is listed with "-")||-128,956.00||
|Including: Investment profit for joint-run business andjoint venture||-959,797.00||
||Termination of recognized income of financial|||
||assets measured at amortized cost (loss is listed with "-")|||
|Exchange income (loss is listed with "-")||||
|Net exposure hedging income (Loss islisted with “-”)||||
|Fair value charge profit (loss is listed with "-")||||
|Loss of credit impairment(loss is listed with "-")||-2,183,171.00||
|Loss for impairment of assets(loss is listed with "-")||1,691,320.00|4,199,837.00|
|Assets disposal income (loss is listed with "-")||-166,664.00|-76,376.00|
|3. Operating profit (loss is listed with "-")||976,379,640.00|1,026,897,359.00|
|Plus: Non-operating income||6,243,601.00|4,781,728.00|
|Minus: Non-operating expenditure||891,004.00|1,831,411.00|
|4. Total profits (total loss is listed with "-")||981,732,237.00|1,029,847,676.00|
|Minus: Income taxes||253,955,367.00|259,949,041.00|
|5. Net profit (net loss is listed with "-")||727,776,870.00|769,898,635.00|
|（一）Classification by continuous operation||||
|1.Net profit from continuous operation(net loss is listed with "-")||||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 2.Net profit from terminational operation(net loss is listed with "-")
||||
|-|-|-|
|(二)Classification by ownership|||
|1.Net profits attribute to equity holders of the company|728,961,623.00|769,753,655.00|
|2. Minority interests|-1,184,753.00|144,980.00|
|6. Net value of other comprehensive income after tax|-21,451,376.00|8,630,710.00|
|6.1 Net value of other comprehensive income after tax of holdingcompany's owners|-19,854,806.00|7,450,860.00|
|6.1.1 Other comprehensive income that will not beclassified into the profit and loss|||
|6.1.1.1 Changes of the defined benefit plans that re-measured|||
|6.1.1.2 Other comprehensive income under equity method thatcannot be transfer to gain/loss|||
|6.1.1.3 Change of fair value of investment in other equityinstrument|||
|6.1.1.4 Fair value change of enterprise's credit risk|||
|6.1.1.5 Other|||
|6.1.2 Other comprehensive income that will beclassified into the profit and loss|-19,854,806.00|7,450,860.00|
|6.1.2.1 Other comprehensive income under equity method that cantransfer to gain/loss|||
|6.1.2.2 Change of fair value of other debt investment|||
|6.1.2.3 gain/loss of fair value changes for available-for-salefinancial assets|||
|6.1.2.4 Amount of financial assets re-classify to othercomprehensive income|||
|6.1.2.5 Gain/loss of held-to-maturity investments that re-classify toavailable-for-sale financial asset|||
|6.1.2.6 Credit impairment provision for other debt investment|||
|6.1.2.7 Cash flow hedging reserve|||
|6.1.2.8 Translation differences arising on translation of foreigncurrency financial statements|-19,854,806.00|7,450,860.00|
|6.1.2.9 Other|||
|6.2 Net value of other comprehensive income after taxof minority shareholders|-1,596,570.00|1,179,850.00|
|7.Total comprehensive Income|706,325,494.00|778,529,345.00|
|Total comprehensive income of holding company|709,106,817.00|777,204,515.00|
|Total comprehensive income of minority shareholders|-2,781,323.00|1,324,830.00|
|8. Earnings per share|||
|8.1 Basic earnings per share|1.06|1.12|
|8.2 Diluted earnings per share|1.06|1.12|

 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: Zhou Hongjiang; Person in charge of accounting: Jiang Jianxun; Person in charge of
accounting organ: Guo Cuimei
2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 6) Profit statement of parent company from the beginning of the year to the end of the report period
Unit: CNY
|||||
|-|-|-|-|
|Item||Amount in thisreport period|Amount in priorreport period|
|1. Revenue||552,839,771.00|594,203,694.00|
|Minus: Operating costs||493,642,250.00|516,569,381.00|
|Taxes and surcharges||23,586,763.00|33,472,468.00|
|Selling expenses||||
|Administrative expenses||55,928,450.00|61,014,018.00|
|Research and development expenditure||611,084.00|860,671.00|
|Financial expenses||-4,204,810.00|-8,978,222.00|
|Including: Interest expenses||-514,245.00|13,580,944.00|
|Interest income||5,073,326.00|28,087,271.00|
|Plus: Other income||2,574,791.00|3,137,204.00|
|Investment profit (loss is listed with "-")||319,221,755.00|392,259,576.00|
|Including: Investment profit for joint-run business andjoint venture||||
||Termination of recognized income of financial|||
||assets measured at amortized cost (loss is listed with "-")|||
|Net exposure hedging income (Loss islisted with “-”)||||
|Fair value charge profit (loss is listed with "-")||||
|Loss of credit impairment (loss is listed with "-")||||
|Loss for impairment of assets (loss is listed with "-")||||
|Assets disposal income (loss is listed with "-")||21,901.00|74,472.00|
|2. Operating profit (loss is listed with "-")||305,094,481.00|386,736,630.00|
|Plus: Non-operating income||825,767.00|868,923.00|
|Minus: Non-operating expenses||845,797.00|300,000.00|
|3. Total profits (total loss is listed with "-")||305,074,451.00|387,305,553.00|
|Minus: Income tax||-908,748.00|615,864.00|
|4. Net profit (net loss is listed with "-")||305,983,199.00|386,689,689.00|
|1.Net profit from continuous operation(net loss is listed with "-")||305,983,199.00|386,689,689.00|
|2.Net profit from terminational operation(net loss is listed with "-")||||
|5. Net value of other comprehensive income after tax||||
|5.1 Other comprehensive income that will not beclassified into the profit and loss||||
|5.1.1 Remeasure the changes in net assets or liabilitiesof defined benefit plans||||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. 5.1.2 Shares of other comprehensive income from
investee which cannot be reclassified into profit
and loss under the equity method
||||
|-|-|-|
|5.1.3 Change of fair value of investment in other equity instrument|||
|5.1.4 Fair value change of enterprise's credit risk|||
|5.1.5 Other|||
|5.2 Other comprehensive income that will be classifiedinto the profit and loss|||
|5.2.1 Other comprehensive income under equity method that cantransfer to gain/loss|||
|5.2.2 Change of fair value of other debt investment|||
|5.2.3 gain/loss of fair value changes for available-for-salefinancial assets|||
|5.2.4 Amount of financial assets re-classify to othercomprehensive income|||
|5.2.5 Gain/loss of held-to-maturity investments that re-classify toailable-for-sale financial asset|||
|5.2.6 Credit impairment provision for other debt investmen|||
|5.2.7 Cash flow hedging reserve|||
|5.2.8 Translation differences arising on translation of foreigncurrency financial statements|||
|5.2.9 Other|||
|6. Total comprehensive income|305,983,199.00|386,689,689.00|
|7. Earnings per share|||
|7.1 Basic earnings per share|0.45|0.56|
|7.2 Diluted earnings per share|0.45|0.56|

 7) Consolidated cash flow statement from the beginning of the year to the end of the report period
Unit: CNY
||||
|-|-|-|
|Item|Amount in this reportperiod|Amount in prior reportperiod|
|1. Cash flows from operating activities:|||
|Cash received from sales of goods and rending ofservices|3,383,591,970.00|3,758,220,631.00|
|Net increase in customer and interbank deposits|||
|Net increase in borrowings from central bank|||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Net increase in borrowings from other financial
institutions
|||||||
|-|-|-|-|-|-|
|Cash received from receiving insurance premium oforiginal insurance contract||||||
|Net cash received from reinsurance business||||||
|Net increase of deposit of insured and investmentfund||||||
|Net increase in disposing of financial assets thatmeasured by fair value with changes recorded intothe current profit and loss||||||
|Cash received from collecting interest, handlingfees and commission||||||
|Net increase in borrowings||||||
|Net increase in repurchasement business funds||||||
|Tax refund received||29,589,937.00||44,108,497.00||
|Other cash received related to operating activities||73,784,588.00||72,133,583.00||
|Sub-total of cash inflows of operating activities||3,486,966,495.00||3,874,462,711.00||
|Cash paid for goods and services||1,215,074,533.00||1,148,035,339.00||
|Net increase in customer loans and advances||||||
|Net increase in deposits in central bank andinterbank deposits||||||
|Cash paid to original insurance contract payments||||||
|Cash paid to interest, handling fees andcommission||||||
|Cash paid to policy bonus||||||
|Cash paid to and on behalf of employees||371,205,468.00||382,654,609.00||
|Cash paid for taxes and expenses||674,162,579.00||980,026,533.00||
|Other cash paid related to operating activities||581,192,202.00||586,905,436.00||
|Sub-total of cash outflows of operating activities||2,841,634,782.00||3,097,621,917.00||
|Net cash flow from operating activities||645,331,713.00||776,840,794.00||
|2. Cash flow from investing activities:||||||
|Cash received from return of investment||||||
||Cash received from return of fixed deposit|||||
||||174,597,650.00||315,000,000.00|
||Cash received from obtaining investment profit|||||
||Cash received from interest income|||||
||||1,199,968.00||2,663,349.00|
|Cash received from disposal of fixed assets,intangible assets and other long-term assets||197,599.00||679,061.00||
|Net cash received from disposal of branch and otherbusiness unit||||||
|Other cash received related to investing activities||||||
|Sub-total of cash inflows of investment activities||175,995,217.00||318,342,410.00||
|Cash paid to acquire fixed assets, intangible assetand other long-term assets||201,251,495.00||194,381,509.00||
|Cash for investments||401,647.00||||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|Cash paid to acquire fixed deposit|113,718,193.00|340,000,000.00|
|Net increase in hypothecated loan|||
|Net cash paid to acquire branch and other businessunit||105,834,656.00|
|Other cash paid related to investment activities|170,752.00||
|Subtotal of cash outflows of investment activities|315,542,087.00|640,216,165.00|
|Net cash flow from investing activities|-139,546,870.00|-321,873,755.00|
|3. Cash flow from financing activities|||
|Cash received from acquiring investment|||
|Cash received from acquiring minorityshareholders' investment by branch|||
|Cash received from acquiring loans|684,581,027.00|693,422,472.00|
|Other cash received related to financing activities||23,521,431.00|
|Sub-total cash inflows of financing activities|684,581,027.00|716,943,903.00|
|Cash paid to repay debts|697,660,583.00|697,658,527.00|
|Cash paid to distribute dividend, profit or payinterest|437,742,354.00|370,522,623.00|
|Dividend and profit paid to minorityshareholders by branch|||
|Other cash paid related to financing activities||20,000,000.00|
|Sub-total of cash outflows of financing activities|1,135,402,937.00|1,088,181,150.00|
|Net cash flow from financing activities|-450,821,910.00|-371,237,247.00|
|4. Influences of exchange rate fluctuation on cash andcash equivalents|-308,084.00|-1,776,998.00|
|5. Net Increase of cash and cash equivalents|54,654,849.00|81,952,794.00|
|Plus: balance at the beginning of the period of cashand cash equivalents|1,206,860,334.00|1,180,889,274.00|
|6. Balance at the end of the period of cash and cashequivalents|1,261,515,183.00|1,262,842,068.00|

8) Cash flow statement of parent company from the beginning of the year to the end of the report period
Unit: CNY
||||
|-|-|-|
|Item|Amount in this reportperiod|Amount in prior reportperiod|

1. Cash flows from operating activities:
2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|Cash received from sales of goods and rending ofservices|442,359,311.00|500,155,064.00|
|Tax refund received|||
|Other cash received related to operating activities|44,030,652.00|117,304,238.00|
|Sub-total of cash inflows of operating activities|486,389,963.00|617,459,302.00|
|Cash paid for goods and services|332,017,753.00|324,043,336.00|
|Cash paid to and on behalf of employees|57,697,044.00|61,318,451.00|
|Cash paid for taxes and expenses|34,602,597.00|56,041,351.00|
|Other cash paid related to operating activities|236,084,524.00|35,822,969.00|
|Sub-total of cash outflows of operating activities|660,401,918.00|477,226,107.00|
|Net cash flow from operating activities|-174,011,955.00|140,233,195.00|
|2. Cash flow from investing activities:|||
|Cash received from return of investment|||
|Cash received from return of fixed deposit|110,000,000.00|305,000,000.00|
|Cash received from obtaining investment profit|815,117,830.00|797,517,435.00|
|Cash received from interest income|715,111.00|2,342,015.00|
|Cash received from disposal of fixed assets,intangible assets and other long-term assets|29,815.00|538,055.00|
|Net cash received from disposal of branch andother business unit|||
|Other cash received related to investing activities|||
|Sub-total of cash inflows of investment activities|925,862,756.00|1,105,397,505.00|
|Cash paid to acquire fixed assets, intangible assetand other long-term assets|14,223,638.00|15,121,500.00|
|Cash for investments|265,479,443.00|107,194,420.00|
|Cash paid to acquire fixed deposit|105,238,750.00|340,000,000.00|
|Net cash paid to acquire branch and otherbusines unit|||
|Other cash paid related to investment activities|||
|Subtotal of cash outflows of investment activities|384,941,831.00|462,315,920.00|
|Net cash flow from investing activities|540,920,925.00|643,081,585.00|
|3. Cash flow from financing activities|||
|Cash received from acquiring investment|||
|Cash received from acquiring loans||200,000,000.00|
|Other cash received related to financing activities|||
|Sub-total cash inflows of financing activities||200,000,000.00|
|Cash paid to repay debts||600,000,000.00|
|Cash paid to distribute dividend, profit or payinterest|416,717,150.00|356,615,750.00|
|Other cash paid related to financing activities|||
|Sub-total of cash outflows of financing activities|416,717,150.00|956,615,750.00|
|Net cash flow from financing activities|-416,717,150.00|-756,615,750.00|
|4. Influences of exchange rate fluctuation on cashand cash equivalents|||
|5. Net Increase of cash and cash equivalents|-49,808,180.00|26,699,030.00|

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Plus: balance at the beginning of the period of
532,384,882.00 493,568,866.00 cash and cash equivalents
||||
|-|-|-|
|6. Balance at the end of the period of cash and cashequivalents|482,576,702.00|520,267,896.00|

2. Explanation for adjustment in financial statements
1) The situation of adjusting related items in financial statements at the beginning of 2019 owing to the implementation of new financial instruments standard, new revenue standard or new lease standard since 2019
√Available□Not available
Consolidated balance sheet
Unit: CNY
|||||
|-|-|-|-|
|Item|December 31st, 2018|January 1st, 2019|Adjusted amount|
|Current Assets：||||
|Monetary fund|1,475,700,477.00|1,475,700,477.00||
|petty cash||||
|Lending funds||||
|Transactional financial assets||||
|Financial assets measured by fair value withchanges recorded into current profits and losses||||
|Derivative financial assets||||
|Notes receivable|288,667,988.00||-288,667,988.00|
|Accounts receivable|242,153,083.00|237,781,161.00|-4,371,922.00|
|Receivables Financing||||
|Accounts prepaid|4,219,949.00|4,219,949.00||
|Premiums receivable||||
|Reinsurance accounts receivable||||
|Receivable reserves for reinsurance contract||||
|Other receivables|22,636,086.00|22,636,086.00||
|Including: Interest receivable|1,332,681.00|1,332,681.00||
|Dividends receivable||||
|Buying back the sale of financial assets||||
|Inventory|2,724,591,457.00|2,724,591,457.00||
|Contract assets||||
|Assets classified as holding for sale||||
|Non-current assets expire in one year||||
|Other current assets|258,676,396.00|258,676,396.00||
|Total Current Assets|5,016,645,436.00|5,016,645,436.00||
|Non-current Assets：||||
|Offering loans and imprest||||
|Debt investment||||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Financial assets for sale 467,251.00 -467,251.00
|||||
|-|-|-|-|
|Other debt investment||||
|Held-to-maturity investment||||
|Long-term account receivable||||
|Long-term equity investment||||
|Investment in other equity instrument||||
|Other non-current financial assets||467,251.00|467,251.00|
|Real estate for investment|31,572,489.00|31,572,489.00||
|Fixed assets|5,749,731,667.00|5,749,731,667.00||
|Construction in progress|759,296,591.00|759,296,591.00||
|Biological assets for production|209,266,373.00|209,266,373.00||
|Oil and gas assets||||
|Right-of-use assets||||
|Intangible assets|655,473,459.00|655,473,459.00||
|Development expenditure||||
|Goodwill|165,199,111.00|165,199,111.00||
|Long-term deferred expenses|244,640,416.00|244,640,416.00||
|Deferred tax assets|285,436,259.00|286,529,239.00|1,092,980.00|
|Other non-current assets||||
|Total Non-Current Assets|8,101,083,616.00|8,101,083,616.00||
|Total Assets|13,117,729,052.00|13,117,729,052.00||
|Current liabilities：||||
|Short-term loan|688,002,410.00|688,002,410.00||
|Borrowings from the Central Bank||||
|Borrowing funds||||
|Transactional financial liability||||
|Financial liabilities measured by fair valuewith changes recorded into current profits andlosses||||
|Derivative financial liabilities||||
|Notes payable||||
|Accounts payable|713,572,881.00|713,572,881.00||
|Advances from customers|226,075,244.00|226,075,244.00||
|Sales/buyback financial assets||||
|Customer and interbank deposits||||
|Acting trading securities||||
|Acting underwriting securities||||
|Wage payable|212,304,217.00|212,304,217.00||
|Tax payable|128,912,790.00|128,912,790.00||
|Other accounts payable|608,479,890.00|608,479,890.00||
|Including: Interest payable|712,826.00|712,826.00||
|Dividend payable||||
|Payable handling fees and commission||||
|Dividend payable for reinsurance||||
|Contract liabilities||||
|Liabilities classified as holding for sale||||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Non-current liabilities expire in one year 152,940,788.00 152,940,788.00
|||||
|-|-|-|-|
|Other current liabilities|15,860,254.00|15,860,254.00||
|Total Current Liabilities|2,746,148,474.00|2,746,148,474.00||
|Non-Current Liabilities:||||
|Insurance contract reserve||||
|Long-term borrowings|156,480,662.00|156,480,662.00||
|Bonds payable||||
|Preferred Stock||||
|Perpetual capital securities||||
|Lease liability||||
|Long-term accounts payable|225,000,000.00|225,000,000.00||
|Long-term accrued payroll||||
|Estimated liabilities||||
|Deferred income|70,367,039.00|70,367,039.00||
|Deferred tax liabilities|22,010,647.00|22,010,647.00||
|Other non-current liabilities|7,234,853.00|7,234,853.00||
|Total non-current liabilities|481,093,201.00|481,093,201.00||
|Total liabilities|3,227,241,675.00|3,227,241,675.00||
|Owner’s equity (or shareholders’ equity):||||
|Capital stock|685,464,000.00|685,464,000.00||
|Other equity instruments||||
|Preferred Stock||||
|Perpetual capital securities||||
|Capital reserve|565,955,441.00|565,955,441.00||
|Minus: treasury stock||||
|Other comprehensive income|2,965,377.00|2,965,377.00||
|Special reserves||||
|Surplus reserve|342,732,000.00|342,732,000.00||
|General risk preparation||||
|Undistributed profits|8,008,982,547.00|8,005,703,605.00|-3,278,942.00|
|Total owner's equity attributable to theholding company|9,606,099,365.00|9,606,099,365.00||
|Minority interests|284,388,012.00|284,388,012.00||
|Total owner's equity|9,890,487,377.00|9,602,820,423.00|-3,278,942.00|
|Total liabilities and owner's equity|13,117,729,052.00|13,117,729,052.00||

Explanation for adjustment
Unit: CNY
||||||
|-|-|-|-|-|
|Item|Book value based on|Influence of|Influence of change|Book value based on|
||original standard|new financial|in reporting mode of|new standard|
||December 31st, 2018|instruments|other financial|January 1st, 2019|
|||standard|statements||
|Notes receivable &|530,821,071||-530,821,071||
|Accounts receivable|||||
|Notes receivable||-288,667,988|288,667,988||
|Accounts receivable||-4,371,922|242,153,083|237,781,161|
|Receivables Financing||288,667,988||288,667,988|
|Financial assets for|467,251|-467,251|||
|sale|||||
|Other non-current||467,251||467,251|
|financial assets|||||
|Deferred tax assets|285,436,259|1,092,980||286,529,239|
|Total|816,724,581|-3,278,942||813,445,639|

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Balance sheet of parent company
Unit: CNY
|||||
|-|-|-|-|
|Item|December 31st, 2018|January 1st, 2019|Adjustedamount|
|Current Assets：||||
|Monetary fund|624,588,809.00|624,588,809.00||
|Transactional financial assets||||
|Financial assets measured by fair valuewith changes recorded into current profitsand losses||||
|Derivative financial assets||||
|Notes receivable|39,885,254.00||-39,885,254.00|
|Accounts receivable|1,447,973.00|1,447,973.00||
|Receivables Financing||39,885,254.00|39,885,254.00|
|Accounts prepaid|227.00|227.00||
|Other receivables|1,025,643,356.00|1,025,643,356.00||
|Including: Interest receivable|254,088.00|254,088.00||
|Dividends receivable|500,000,000.00|500,000,000.00||
|Inventory|385,154,740.00|385,154,740.00||
|Contract assets||||
|Assets classified as holding for sale||||
|Non-current assets expire in one year||||
|Other current assets|24,704,844.00|24,704,844.00||
|Total Current Assets|2,101,425,203.00|2,101,425,203.00||
|Non-current Assets：||||
|Debt investment||||
|Financial assets for sale||||
|Other debt investment||||
|Held-to-maturity investment||||
|Long-term account receivable||||
|Long-term equity investment|7,420,803,069.00|7,420,803,069.00||
|Investment in other equity instrument||||
|Other non-current financial assets||||
|Real estate for investment|31,572,489.00|31,572,489.00||
|Fixed assets|265,311,274.00|265,311,274.00||
|Construction in progress|6,311,701.00|6,311,701.00||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Biological assets for production 125,002,793.00 125,002,793.00
||||
|-|-|-|
|Oil and gas assets|||
|Right-of-use assets|||
|Intangible assets|67,244,066.00|67,244,066.00|
|Development expenditure|||
|Goodwill|||
|Long-term deferred expenses|||
|Deferred tax assets|24,194,967.00|24,194,967.00|
|Other non-current assets|972,700,000.00|972,700,000.00|
|Total Non-Current Assets|8,913,140,359.00|8,913,140,359.00|
|Total Assets|11,014,565,562.00|11,014,565,562.00|
|Current liabilities：|||
|Short-term loan|150,000,000.00|150,000,000.00|
|Transactional financial liability|||
|Financial liabilities measured by fairvalue with changes recorded into currentprofits and losses|||
|Derivative financial liabilities|||
|Notes payable|||
|Accounts payable|132,704,304.00|132,704,304.00|
|Advances from customers|||
|Contract liabilities|||
|Wage payable|72,345,179.00|72,345,179.00|
|Tax payable|13,111,431.00|13,111,431.00|
|Other accounts payable|607,974,519.00|607,974,519.00|
|Including: Interest payable|181,250.00|181,250.00|
|Dividend payable|||
|Liabilities classified as holding for sale|||
|Non-current liabilities expire in one year|||
|Other current liabilities|3,433,054.00|3,433,054.00|
|Total Current Liabilities|979,568,487.00|979,568,487.00|
|Non-Current Liabilities:|||
|Long-term borrowings|||
|Bonds payable|||
|Preferred Stock|||
|Perpetual capital securities|||

2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Lease liability
||||
|-|-|-|
|Long-term accounts payable|||
|Long-term accrued payroll|||
|Estimated liabilities|||
|Deferred income|8,910,918.00|8,910,918.00|
|Deferred tax liabilities|||
|Other non-current liabilities|2,710,575.00|2,710,575.00|
|Total non-current liabilities|11,621,493.00|11,621,493.00|
|Total liabilities|991,189,980.00|991,189,980.00|
|Owner’s equity (or shareholders’ equity):|||
|Capital stock|685,464,000.00|685,464,000.00|
|Other equity instruments|||
|Preferred Stock|||
|Perpetual capital securities|||
|Capital reserve|557,222,454.00|557,222,454.00|
|Minus: treasury stock|||
|Other comprehensive income|||
|Special reserves|||
|Surplus reserve|342,732,000.00|342,732,000.00|
|Undistributed profits|8,437,957,128.00|8,437,957,128.00|
|Total owner's equity|10,023,375,582.00|10,023,375,582.00|
|Total liabilities and owner's equity|11,014,565,562.00|11,014,565,562.00|

Explanation for adjustment
Unit: CNY
||||||
|-|-|-|-|-|
|Item|Book value based on|Influence of|Influence of change|Book value based on|
||original standard|new financial|in reporting mode of|new standard|
||December 31st, 2018|instruments|other financial|January 1st, 2019|
|||standard|statements||
|Notes receivable &|41,333,227||-41,333,227||
|Accounts receivable|||||
|Notes receivable||-39,885,254|39,885,254||
|Accounts receivable|||1,447,973|1,447,973|
|Receivables Financing||39,885,254||39,885,254|
|Other receivables|1,025,643,356|||1,025,643,356|
|Total|1,066,976,583|||1,066,976,583|

2) Explanation for retroactive adjustment in comparable data in prior report period owing to
the implementation of new financial instruments standard or new lease standard since 2019
2019 the Third Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.□Available√ Not available
3. Audit report
Whether the third quarter report has been audited.
□Yes √No
The third quarter report has not been audited.
Yantai Changyu Pioneer Wine Co., Ltd. Board of Directors October28th, 2019