2016 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. Yantai Changyu Pioneer Wine Co. Ltd.
2016 First Quarter Report
2016-Final 02
April 2016
2016 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. I. Important Notice
The board ofdirectors，the board ofsupervisors，directors, supervisors& senior managers of the Company collectively and individually accept full responsibility for thetruthfulness， accuracy and completeness of the information contained in this report and confirm that to the best of their knowledge and belief there are no unfaithful facts, significant omissions or misleading statements.
All directors attended the meeting for deliberating this quarter report, and no directors make an objection statement to this report.
Mr. Sun Liqiang (Chairman of the Company), Mr. Leng Bin (Chief Financial Officer) and Mr. Jiang Jianxun (Financial Director) assure the truthfulness, accuracy and completeness of the financial report in the annual report.
2016 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.II、Key financial data and shareholders changing
1. Key financial data
Whether the Company makes retroactive adjustments or restates the accounting data of previous fiscal years.
□ Yes V No
|||||
|-|-|-|-|
|||The same period of|More or less than|
|Item|The report period|||
|||last year|last year(%)|
|Business income (CNY)|1,882,230,620|1,825,212,207|3.12%|
|Net profit attributed to the|542,806,719|530,248,397||
|shareholders of the listed|||2.37%|
|company (CNY)||||
|Net profit attributed to the||||
|shareholders of the listed||||
||538,762,161|526,745,613|2.28%|
|company after deducting the||||
|irregular profit and loss (CNY)||||
|Net cash flows from the|605,256,456|697,396,327||
||||-13.21%|
|operating activities (CNY)||||
|Basic earnings per share|0.79|0.77||
||||2.60%|
|(CNY)||||
|Diluted earnings per share|0.79|0.77||
||||2.60%|
|(CNY)||||
|Weighted average for earning||||
||6.93%|7.46%|-0.53%|
|rate of the net assets||||
||The end of the||More or less than|
|||The end of last year||
||report period||last year(%)|
|Total assets (CNY)|11,101,253,043|10,344,211,461|7.32%|
|Net Assets attributed to the|8,117,587,279|7,564,099,003||
|shareholders of the listed|||7.32%|
|company (CNY)||||

Details of irregular profit and loss
V Yes□ No
Unit：CNY
||||
|-|-|-|
||From beginning of year||
|Item||Explanation|
||to end of report period||
|Gain on disposal of non-current assets, including|||
||72,728||
|the reversal of accrued impairment provision|||
|Government grants credited in profit and loss|||
|(except for those recurring government grants|||
|that are closely related to the entity's operation,|3,887,501||
|in line with related regulations and have proper|||
|basis of calculation)|||
|Other non-operating income and expenses|1,095,395||

2016 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||
|-|-|-|
|Less: Income tax effect|1,011,066||
|||--|
|Total|4,044,558||

The reasons shall be made clear and definitely as to the irregular profit and loss that the Company has defined by virtue of the Explanatory Announcement on PublicCompany’s Information Disclosure No.1 - Irregular Profit and Loss and as to regarding the irregular profit and loss as recurrent profit and loss as specified in the Explanatory Announcement on PublicCompany’s Information Disclosure No.1 - Irregular Profit and Loss.
□Available V Not available
There is no situation regarding the non-recurring profit and loss as defined and specified in the Explanatory Announcement on PublicCompany’s Information Disclosure No.1 - Non-recurring Profit and Loss as recurrent profit and loss.
2. The total number of shareholders and top 10 shareholders at the end of the report period 1) The number of the common shareholders and preferred shareholders with recovered voting power as well as the shareholding of top 10 shareholders
Unit: share
|||||||||||
|-|-|-|-|-|-|-|-|-|-|
|||||Total number of preferred||||||
|Total number of common||||||||||
|||36502||shareholders with recovered||||||
|shareholders at the end of report|||||||0|||
|||||voting power at the end of||||||
|period||||||||||
|||||report period||||||
|The top 10 common shareholders||||||||||
|||||||Number||Pledged or||
||Character of||Percentage|||of||frozen||
|Name of Shareholders|||||Shares held|||||
||shareholders||(%)|||restricted||Share|Amo|
|||||||shares||status|unt|
|YANTAI CHANGYU GROUPCOMPANY LIMITED|Domesticnon-state-owned legalperson||50.40%||345,473,856|0||||
|GAOLING FUND,L.P.|Foreign legalperson||3.11%||21,300,919|0||||
|CHINA SECURITIES|State-ownedlegal person||2.33%||15,997,455|0||||
|FINANCE CORP||||||||||
|BBH BOS S/A FIDELITY FD - CHINAFOCUS FD|Foreign legalperson||2.27%||15,576,126|0||||
|GREENWOODS CHINAALPHA MASTER FUND|Foreign legalperson||1.47%||10,082,711|0||||
|GOLDEN CHINA MASTERFUND|Foreign legalperson||1.08%||7,389,916|0||||
|NORGES BANK|Foreign legalperson||0.96%||6,584,748|0||||
|GUOTAI JUNANSECURITIES (HONGKONG)LIMITED|Foreign legalperson||0.78%||5,317,307|0||||
|CENTRAL HUIJIN ASSETMANAGEMENT LTD.|State-ownedlegal person||0.69%||4,761,200|0||||

2016 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||||||||
|-|-|-|-|-|-|-|-|-|
|BBH A/C VANGUARD EMERGINGMARKETS STOCK INDEX FUND|Foreign legalperson||0.55%||3,788,487||0||
|The top 10 common shareholders with unrestricted shares|||||||||
|Name of Shareholders||||Number of||Type of share|||
|||||unrestricted||Type of||Amount|
|||||shares held||share|||
|YANTAI CHANGYU GROUP COMPANY LIMITED||||345,473,856||A share||345,473,856|
|GAOLING FUND,L.P.||||21,300,919||B share||21,300,919|
|CHINA SECURITIES FINANCE CORP||||15,997,455||A share||15,997,455|
|BBH BOS S/A FIDELITY FD - CHINA FOCUS FD||||15,576,126||B share||15,576,126|
|GREENWOODS CHINA ALPHA MASTER FUND||||10,082,711||B share||10,082,711|
|GOLDEN CHINA MASTER FUND||||7,389,916||B share||7,389,916|
|NORGES BANK||||6,584,748||B share||6,584,748|
|GUOTAI JUNANSECURITIES (HONGKONG) LIMITED||||5,317,307||B share|||
|||||||||5,317,307|
|CENTRAL HUIJIN ASSET MANAGEMENT LTD.||||4,761,200||A share||4,761,200|
|BBH A/C VANGUARD EMERGING MARKETS STOCKINDEX FUND||||3,788,487||B share|||
|||||||||3,788,487|
|||Among the top 10 shareholders, Yantai Changyu Group|||||||
|The explanation for the associated|||||||||
|||Company Limited has no associated relationship or accordant|||||||
|relationship and accordant action|||||||||
|||action relationship with the other 9 listed shareholders, and the|||||||
|of the top 10 shareholders|||||||||
|||relationship among the other shareholders is unknown.|||||||
|Explanation for the top 10|||||||||
|common shareholders who|||||||||
|||No|||||||
|involved in financing activities|||||||||
|and stock trading business(if any)|||||||||

Whether or not theCompany’s top 10 common shareholders and top 10 common shareholders with unrestricted shares promise to buy back trading during the report period
□ Yes√ No
There is no top 10 common shareholders and top 10 common shareholders with unrestricted shares in the Company promise to buy back trading during the report period.
2) The total number of the preferred shareholders and top 10 preferred shareholders at the end of the report period
□Available V Not available
2016 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd. III Major Issue
1. The Great Change and Reasons on Main Accountant Data and Financial Index
√Available □Not available
Compared the end of the report period with the beginning of the report period, monetary capital increases by55.27%, mainly due to the increased returned sales money; notes receivable increases by202.81%, mainly due to the growth on bank acceptances; account receivables increases by27.44%, mainly due to the expansion ofCompany’s direct-selling business and increase ofclients’ sales amount on credit; inventory decreases by23.84%, mainly due that the sales of products result in the reduce of inventory and materials; notes payable decreases by35.07%, mainly due that the notes payable amount is paid during the report period; accounts payable decreases by39.21%, mainly due that the accounts payable amount is paid during the report period; advance receipt increases by39.6%, mainly due to increased advance order amount from clients.
Compared with the same period of last year, the financial expense increases by174.7%, mainly due to the increased interest expenditure of bank loan and the reduced interest income of bank loan; the cash for purchasing commodities and accepting service payment increases by70.43%, mainly due to the payment of previous purchase amount of materials as well as thestaff’s remuneration; the subtotal of cash outflow in financing activities increases by1814.92%, mainly due to increased cash for repaying debt; net amount of cash flow in financing activities
increases by5220.62%, mainly due to increased cash from loan.
2. Analysis explanation of the majorissue’s process, its influence and the solution
□Available V Not available
3. The commitments that the Company, shareholders, actual controllers, purchasers,
directors, supervisors, senior executives or other related parties complete performing during the report period anddon’t complete up to the end of report period
√available □not available
||||||||
|-|-|-|-|-|-|-|
||Commitment|Commitment|Commitment|Commitme|Commitme|Implementatio|
|Commitments|||||||
||Party|Type|content|nt time|nt period|n|
|Commitmentsat sharereform|||||||
||-||－||||
|Commitmentsmade inacquisitionreport orequitychangesreport|||||||
||-||-||-|-|
|Commitments|-||-||-|-|

2016 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||||||||
|-|-|-|-|-|-|-|
|at assetrestructuring|||||||
|Commitmentsat the initialpublicoffering orrefinancing|Yantai|Solve|||||
||Changyu|horizontal|||||
||||Non-horizontal|||Has been|
||Group Co.,|competition||1997.05.18|Permanent||
||||competition|||performed|
||Ltd||||||
|||Clear the|According to||||
|||purpose of|"Trademark||||
|||brand royalty|License||||
||||Contract", the||||
||||Company will||||
||||pay trademark||||
||||royalty for the||||
||||"Changyu"prod||||
||Yantai||||||
||||ucts of Yantai||||
||Changyu||||||
||||Changyu Group|||Has been|
||Group Co.,|||1997.05.18|Permanent||
||||Co., Ltd every|||performed|
||Ltd||||||
||||year, Yantai||||
||||Changyu Group||||
||||Co., Ltd will||||
||||use trademark||||
||||to advertise||||
||||Changyu||||
||||trademarks and||||
||||the Contract||||
||||products.||||
|Equityincentivecommitments|||||||
|Commitmentsmade to theminorityshareholdersof theCompany|||||||
||-||-||-|-|
|Commitment|Yes||||||
|under timely|||||||
|implementati|||||||
|on or not|||||||
|For|No||||||
|commitments|||||||
|that exceed|||||||
|the time limit|||||||
|and are not|||||||
|completed,|||||||
|specific|||||||
|reasons of not|||||||
|completing|||||||
|the|||||||

2016 the First Quarter Report of Yantai Changyu Pioneer Wine Co. Ltd.
||
|-|
|implementati|
|on and the|
|next step|

4. Forecast on the operating performance in the period from January to June of 2016
Warning and explanation for the estimation on the possible loss of cumulative net profit in the period from the beginning of this year to the end of the next report period or the great change comparing with same period of last year.
□Available V Not available
5. The situation of security investment
□Available V Not available
There is no security investment during the report period.
6. The situation of derivative investment
□Available V Not available
There is no derivative investment during the report period.
7. The activities registration form of receptions, communication and interview etc. during the report period
□Available V Not available
There is no activities of receptions, communication and interview etc. during the report period. 8.The situation of illegal external guarantee
□Available V Not available
There is no illegal external guarantee during the report period.
9. The situation of non-operating fund occupation of controlling shareholders and related parties
□Available V Not available
There is no non-operating fund occupation of controlling shareholders and related parties during the report period.
Yantai Changyu Pioneer Wine Co. Ltd. Board of Directors
30th
April 2016