张裕Ｂ：2021年年度报告摘要（英文版）.PDF

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1、 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 1 Stock Code: 000869, 200869 Stock Abbreviation: Changyu A, Changyu B Announcement No.: Final 2022-01 Yantai Changyu Pioneer Wine Co., Ltd. 2021 Annual Report Abstract 1. Important Notice This Annual Report Abstract comes from the

2、 whole contents of annual report. If investors desire to comprehensively understand the Companys operating results, financial situation and future development plan, please read the Annual Report on the media specified by the China Securities Regulatory Commission. Except following directors, other d

3、irectors have personally attended the meeting for deliberating the annual report. Name of director not personally attending the meeting Position of director not personally attending the meeting Reason of not personally attending the meeting Name of entrustee Aldino Marzorati Director Conflict with w

4、orking hours Zhou Hongjiang Stefano Battioni Director Conflict with working hours Leng Bin Enrico Sivieri Director Conflict with working hours Zhou Hongjiang Non-standard audit opinion notice Available Not available The preliminary scheme of the report periods ordinary share profit distribution or i

5、ncreasing equity with reserve deliberated by the board of the directors Available Not available Whether to increase equity with reserve Yes No The Companys preliminary scheme of profit distribution deliberated and passed by the board of directors this time is shown as following: Based on the Company

6、s total 685,464,000 shares, the Company plans to pay CNY4.5 (including tax) in cash as dividends for every 10 shares to all shareholders and send 0 bonus share (including tax). Capital reserve will not be transferred to equity. The draft plan of preferred share profit distribution during the report

7、period deliberated and passed by the board of directors Available Not available 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 2 2. Basic information of the Company (1) Brief introduction of the Company Abbreviation of Shares Changyu A, Changyu B Code number of the Shares 00086

8、9, 200869 Place of listing of Shares Shenzhen Stock Exchange Contact person and information Secretary to the Board of Directors Authorized Representative of the Securities Affairs Name Mr. Jiang Jianxun Mr. Li Tingguo Address 56 Dama Road, Yantai, Shandong, China 56 Dama Road, Yantai, Shandong, Chin

9、a Fax 0086-535-6633639 0086-535-6633639 Tel 0086-535-6602761 0086-535-6633656 E-mail (2) Main businesses during the report period or brief introduction of products 1) Situation of the industry in which the Company operates During the report period, the Companys main businesses are production and ope

10、ration of wine and brandy, thus providing domestic and foreign consumers with healthy and fashionable alcoholic drinks. Compared with earlier stage, there are no significant changes happened to the Companys main businesses. The wine industry that the Company involved in is still in growth stage. Alt

11、hough being affected by many factors including the epidemic for the short-term, the competition in the market is fierce, the wine consumption temporarily declines, and a large number of wine production enterprises are on the brink of loss. However, seen from the long term, with the change in the con

12、sumption conception of younger consumers, the whole domestic wine market is likely to be on the rising trend. The Company is at the forefront in the domestic wine market and is significantly ahead of major domestic competitors. The Companys products were divided into two series: wine and brandy. For

13、 wine, main brands included Changyu, Noble Dragon, AFIP, Longyu, Golden Ice Valley, Zenithwirl, Vermouth, Rena, Baron Balboa, J.LORMIN, Atrio, Kilikanoon and IWCC and so on. For Brandy, main brands included Koya, Mminni, Pagese, Roullet Fransac and so on. 2) License obtained As of December 31st, 202

14、1, the Company and its subsidiaries have obtained 8 food production licenses (alcohol), of which the food production licenses having been obtained since the beginning of 2020 are as follows: Producer name Food category Obtaining time Obtaining method Food production license number Shaanxi Chateau Ch

15、angyu Rena Co., Ltd. Alcohol 2020.10.19 Approval from government authority SC11561040400532 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 3 Yantai Chateau Koya Brandy Co., Ltd. Alcohol 2021.01.11 Approval from government authority SC11537063601165 3) Major sales mode The Compa

16、nys main sales mode was the distribution mode, and main sales channel was offline sales, that is, the Companys products were distributed to sales terminals through approximately 4,000 distributors at home and abroad and ultimately provided to consumers. Distribution mode Available Not available Situ

17、ation of change in the number of distributors Region Number at the beginning of 2021 Increased number during this report period Number at the end of 2021 Eastern China 1702 155 1857 South China 541 24 565 Central China 479 -3 476 North China 358 7 365 Northwest China 156 28 184 Southwest China 411 8

18、2 493 Northeast China 289 29 318 HongKong, Macao,Taiwan China and overseas 511 62 573 Total 4447 384 4831 The Company adopted the settlement method of cash and carry with the distributors, and mainly adopted buyout distribution mode. The ratio of sales in self-owned exclusive shop exceeds 10% Availa

19、ble Not available Sales of online direct selling Available Not available 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 4 The change in sales prices of major products accounting for more than 10% of total operating income in current report period exceeds 30% compared with those

20、 in last report period Available Not available Procurement mode and procurement content Unit：CNY0000 Procurement mode Procurement content The amount of the main procurement content Price determined by quality comparison with standard price items Raw materials such as grapes/ bulk wine 49,125.70 Tend

21、er/Price determined by quality comparison with standard price items Packaging materials 53,324.70 Tender/Price determined by quality comparison with standard price items Brewing materials 2,262.50 Tender/Price determined by quality comparison with standard price items Vineyard supplies 1,082.80 Cont

22、ract Fuel and power 2,945.50 Price determined by quality comparison with standard price items Other wines and derivatives 1,651.80 Amount of purchasing raw materials from cooperatives or farmers exceeds 30% of total procedure amount Available Not available The year-on-year change in the price of maj

23、or outsourced raw materials exceeds 30% Available Not available Major production mode The production mode of the Company is self-produce. Manufacturing consignment Available Not available Major components of operating costs Sector Project 2021 2020 Year-on-year increase or decrease (%) Amount Propor

24、tion in the operating cost (%) Amount Proportion in the operating cost (%) Liquor and alcoholic Blending liquor 833,479,062 51.93% 731,348,214 49.42% 13.96% Packing material 477,555,065 29.76% 457,572,889 30.92% 4.37% Wages 59,063,486 3.68% 56,969,384 3.85% 3.68% Sales model 2021 2020 Operating inco

25、me (CNY) Operating cost (CNY) Gross margin Operating income (CNY) Operating cost (CNY) Gross margin Distribution 3,263,303,800 1,349,422,481 58.65% 2,945,453,550 1,289,537,264 56.22% Direct sales 689,763,784 298,367,393 56.74% 449,948,451 214,340,143 52.36% Total 3,953,067,583 1,647,789,874 58.32% 3

26、,395,402,001 1,503,877,407 55.71% 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 5 beverage Manufacturing expenses 234,857,160 14.63% 234,032,840 15.81% 0.35% Wine Blending liquor 611,321,504 51.55% 540,591,702 49.07% 13.08% Packing material 328,926,668 27.74% 326,909,741 29.67

27、% 0.62% Wages 50,206,319 4.23% 48,585,743 4.41% 3.34% Manufacturing expenses 195,416,595 16.48% 185,657,867 16.85% 5.26% Brandy Blending liquor 220,058,439 53.02% 190,756,512 52.20% 15.36% Packing material 147,425,674 35.52% 130,663,148 35.76% 12.83% Wages 8,708,416 2.10% 8,383,641 2.29% 3.87% Manuf

28、acturing cost 38,849,077 9.36% 35,597,765 9.75% 9.13% Yield and inventory Sector Project Unit 2021 2020 Year-on-year increase or decrease (%) Alcohol and alcoholic beverage industry Sales volume Ton 97,499 98,414 -0.93% Yield Ton 100,737 93,990 7.18% Inventory Ton 30,412 28,522 6.63% Wine Sales volu

29、me Ton 67,700 70,662 -4.19% Yield Ton 67,342 67,477 -0.20% Inventory Ton 16,104 15,898 1.30% Brandy Sales volume Ton 29,799 27,752 7.38% Yield Ton 33,394 26,513 25.95% Inventory Ton 14,308 12,624 13.34% Explanation for other major situation During the report period, there did not exist the situation

30、 that had a significant impact on the Company, such as trademark ownership disputes, food quality issue and food safety incidents and so on. (3) Key accounting data and financial indicators 1) Key accounting data and financial indicators in recent three years Whether the Company needs to retrospecti

31、vely adjust or restate the accounting data of previous fiscal years. Yes No 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 6 Unit: CNY 2) Key accounting data by quarter Unit: CNY 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter Operating revenue 1,134,006,251 740,454,186 796,762

32、,047 1,281,845,099 Net profit attributed to shareholders of the listed company 286,745,340 85,076,479 79,742,460 48,538,327 Net profit attributed to shareholders of the listed company after deducting non-recurring profits and losses 280,760,222 72,915,820 67,549,124 51,010,796 Net cash flows from op

33、erating activities 314,895,523 141,039,626 336,257,978 333,189,531 Whether there are significant differences between above-mentioned financial indicators or their sum and the related financial indicators in the quarterly report and semi-annual report disclosed by the Company. Yes No December 31, 202

34、1 December 31, 2020 Increase/decrease compared with last year-end (%) December 31, 2019 Total assets (CNY) 13,472,009,754 13,102,481,541 2.82% 13,647,932,568 Net Assets attributed to shareholders of the listed company (CNY) 10,447,884,183 10,267,832,644 1.75% 10,308,910,198 2021 2020 Increase/decrea

35、se compared with last year (%) 2019 Operating revenue (CNY) 3,953,067,583 3,395,402,001 16.42% 5,074,025,899 Net profit attributed to shareholders of the listed company (CNY) 500,102,606 470,860,587 6.21% 1,141,367,296 Net profit attributed to shareholders of the listed company after deducting non-r

36、ecurring profits and losses (CNY) 472,235,962 397,655,187 18.76% 892,496,644 Net cash flows from operating activities (CNY) 1,125,382,658 505,146,673 122.78% 848,852,360 Basic earnings per share (CNY) 0.73 0.69 5.80% 1.67 Diluted earnings per share (CNY) 0.73 0.69 5.80% 1.67 Weighted average for ear

37、ning rate of net assets (CNY) 4.84% 4.57% 0.27% 11.40% 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 7 (4) Capital stock and shareholders situation 1) Number of ordinary shareholder and preferred shareholder recovering voting power, and situation of shares held by top ten shar

38、eholders Unit: share Total shareholders in the report period 51,552 Total number of shareholders by the end of last month before the disclosure day of the annual report 50,528 Total number of preferred shareholder recovering voting power by the end of report period 0 Total number of preferred shareh

39、older recovering voting power by the end of last month before the disclosure day of the annual report 0 Situation of shares held by top ten shareholders Name of Shareholders Character of shareholders Percentage (%) Amount of holding shares Number of restricted shares Pledged or frozen Share status A

40、mount YANTAI CHANGYU GROUP CO., LTD. Domestic non-state legal person 50.40% 345,473,856 - - GAOLING FUND, L.P. Foreign legal person 3.08% 21,090,219 - - BBH BOS S/A FIDELITY FD - CHINA FOCUS FD Foreign legal person 1.33% 9,140,216 - - SHENWAN HONGYUAN SECURITIES(HONGKONG) LIMITED Foreign legal perso

41、n 1.08% 7,413,952 - - FIDELITY PURITAN TRUST: FIDELITY SERIES INTRINSIC OPPORTUNITIES FUND Foreign legal person 0.93% 6,350,762 - - Haitong International Securities Company Limited-Account Client Foreign legal person 0.74% 5,060,702 - - GUOTAI JUNAN SECURITIES (HONGKONG) LIMITED Foreign legal person

42、 0.73% 5,011,871 - - Fengdi JIANG Domestic natural person 0.71% 4,854,000 - - China Merchants Futures (Hong Kong) Co., Limited Foreign legal person 0.67% 4,589,660 - - VANGUARD EMERGING MARKETS STOCK Foreign legal person 0.61% 4,170,863 - - 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine

43、Co., Ltd. 8 2) Number of preferred shareholder and situation of preferred shares held by top ten preferred shareholders Available Not available There are no shares held by preferred shareholders during the report period. INDEX FUND The explanation for the associated relationship and accordant action

44、 Among the top 10 shareholders, Yantai Changyu Group Company Limited has no associated relationship or accordant action relationship with the other 9 listed shareholders, while the relationship among the other shareholders is unknown. Explanation for shareholders who involved in financing activities

45、 and stock trading business (if have) The top 10 shareholders did not involve in financing activities and stock trade business. 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 9 3) Introduction for property right and control relations between the Company and its actual controllers 2021 Annual Report Abstract of Yantai Changyu Pioneer Wine Co., Ltd. 10 (5) Subsistent company bonds at the date when the annual report is approved to be disclosed Available Not available 3. Major issues No Yantai Changyu Pioneer Wine Co., Ltd. Board of Directors April 27, 2022