1张裕B发布2026年三季报：前三季度营收22.54亿元，同比增6.51%；
2归母净利润1.51亿元，同比降19.25%。
3单Q3净利润1091万元，同比大增468.92%，但绝对值较低。
4经营性现金流净额7.03亿元，同比大增96.54%。
5应收账款较年初减少35.29%，长期借款增加61.42%。
6前十大股东中社保基金114及多家外资机构在列，控股股东持股稳定。
张 裕Ｂ：2026年三季度报告（英文版）
摘要
文本
Yantai Changyu Pioneer Wine Co., Ltd. 2026 Third Quarter Report
Stock Code: 000869, 200869 Stock Abbreviation: Changyu A, Changyu B Announcement No.: 2026-Final 04
Yantai Changyu Pioneer Wine Co., Ltd.
2026 Third Quarter Report
This company and all board members guarantee the truthfulness, accuracy and completeness of disclosed contents as well as no unfaithful facts, misleading statements or significant omissions.
Important Notice
- 1. The Company’s board of directors, directors and senior executives guarantee the truthfulness, accuracy and completeness of contents contained in this quarter report as well as no unfaithful facts, misleading statements or significant omissions and undertake individual and collective legal liabilities.
- 2. The person in charge of the Company, the person in charge of accounting work and the person in charge of accounting institution (person in charge of accounting) declare to assure the truthfulness, accuracy and completeness of the financial information in this quarter report.
- 3. Whether the Third Quarter Report has been audited
□Yes No
1
- 1. Major Financial Data
- 1) Key accounting data and financial indicators
Whether the Company needs to make retroactive adjustments or restate the accounting data of previous fiscal years.
Yes No
| This reporting period | More or less than the same period of last year (%) | From the beginning of the year to the end of the reporting period | More or less from the beginning of the year to the end of the reporting period compared with the same period of the previous year (%) | |
|---|---|---|---|---|
| Operating revenue (CNY) | 681,004,431 | 5.52% | 2,253,709,184 | 6.51% |
| Net profit attributed to the shareholders of the listed company (CNY) | 10,907,048 | 468.92% | 151,422,853 | -19.25% |
| Net profit attributed to the shareholders of the listed company after deducting the non-recurring profit and loss (CNY) | 5,930,112 | Inapplicable | 138,888,891 | -17.52% |
| Net cash flows from the operating activities (CNY) | — | — | 703,434,508 | 96.54% |
| Basic earnings per share (CNY) | 0.017 | 484.67% | 0.24 | -14.29% |
| Diluted earnings per share (CNY) | 0.017 | 486.21% | 0.24 | -14.29% |
| Weighted average for earning rate of the net assets | 0.11% | 0.09% | 1.46% | -0.31% |
| The end of this report period | The end of last year | More or less than the end of last year (%) | ||
| Total assets (CNY) | 12,125,691,767 | 12,050,601,981 | 0.62% | |
| Owners’ equity attributed to the shareholders of the listed company (CNY) | 10,207,887,848 | 10,347,247,577 | -1.35% |
2) Item and amount of non-recurring profit and loss Applicable □Inapplicable
Unit：CNY
| Item | This reporting period | From the beginning of the year to the end of the reporting period | Explanation |
|---|---|---|---|
| Gains and losses on disposal of non-current assets (including the write-off part of the provision for impairment of assets) | -466 | 38,500 | |
| Government grants credited in profit and loss (except for those continuously-enjoyed normed or quantitative government grants that are closely related to the entity’s normal operation, in line with national policy and regulation and based on certain criteria) | 6,429,957 | 14,784,268 | |
| Other non-operating income and expenses except for the above items | 252,367 | 2,673,084 | |
| Less: Income tax effect | 1,694,848 | 4,286,970 | |
| Minority interests effect (after-tax) | 10,074 | 674,920 | |
| Total | 4,976,936 | 12,533,962 | -- |
Details of other profit and loss items in line with the identification of non-recurring profit and loss
□Applicable Inapplicable There are no existed details of other profit and loss items in line with the identification of non-recurring profit and loss
Explanation for situation that non-recurring profit and loss items are defined as recurrent profit and loss items in accordance with the Explanatory Announcement on Public Company’s Information Disclosure No.1 - Non-recurring Profit and Loss
Applicable Inapplicable There are no situation that non-recurring profit and loss items are defined as recurrent profit and loss items in accordance with the Explanatory Announcement on Public Company’s Information Disclosure No.1 - Non-recurring Profit and Loss.
3) Situation and reason for the change in key accounting data and financial indicators Applicable □Inapplicable
| Items | By the end of September 2026 | At the beginning of 2026 | Increase/ Decrease % | Cause of change |
|---|---|---|---|---|
| Accounts receivable | 171,436,435 | 264,932,724 | -35.29% | Mainly due to the recovery of partially accounts receivable. |
| Accounts prepaid | 15,607,779 | 54,011,809 | -71.10% | Mainly due to the arrival of partially prepaid accounts. |
| Investment property | 11,934,475 | 19,900,228 | -40.03% | Mainly due to the cessation of leasing for partially investment properties. |
| Construction in progress | 6,544,025 | 4,313,088 | 51.72% | Mainly due to the increase in construction projects. |
| Accounts payable | 408,455,665 | 321,932,168 | 26.88% | Mainly due to the increase in accounts payable for purchasing goods. |
| Other current liabilities | 16,275,369 | 27,193,862 | -40.15% | Mainly due to the reduction in expected sales returns. |
| Long-term borrowing | 84,544,237 | 52,374,840 | 61.42% | Mainly due to the increase in current borrowings. |
| Lease liability | 42,470,062 | 19,437,830 | 118.49% | Mainly due to the addition of new lease contracts in the current period. |
| Other comprehensive income | -42,072,748 | -16,329,710 | -157.65% | Mainly due to the foreign currency translation difference. |
| Items | From January to September in 2026 | The same period last year | Increase/ Decrease % | Cause of change |
| Financial expenses | 13,558,591 | -13,273,343 | Inapplicable | Mainly due to the increase in exchange losses. |
| Investment income | -965,771 | 1,529,675 | -163.14% | Mainly due to the losses of associated and joint venture enterprises. |
| Credit impairment loss | -2,210,222 | 160,681 | -1475.53% | Mainly due to the increase in overdue accounts receivable. |
| Cash received from recovering the investment | 75,650,000 | 51,000,000 | 48.33% | Mainly due to the collection of overdue bank time deposits has increased. |
| Cash received from investment income | 858,065 | 1,674,162 | -48.75% | Mainly due to the decrease in interest income received this period. |
|---|---|---|---|---|
| Net cash received from the disposal of fixed assets, intangible assets and other long-term assets | 12,152,207 | 114,536,468 | -89.39% | Mainly due to the the decrease in cash received from the disposal of Zhujiao this period. |
| Cash paid for the construction and acquisition of fixed assets, intangible assets and other long-term assets | 35,956,740 | 57,165,731 | -37.10% | Mainly due to the reduction in asset purchases. |
| Cash paid for investment | 133,200,000 | 18,000,000 | 640% | Mainly due to the increase in time deposits has occurred. |
- 2. Information of shareholders
- 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 common shareholders at the end of report period | 41,734 | Total number of preferred shareholders with recovered voting power at the end of report period | 0 | |||||
|---|---|---|---|---|---|---|---|---|
| Shareholding of top 10 shareholders (exclude the lending of shares through the margin lending and securities lending system) | ||||||||
| Name of Shareholders | Character of shareholders | Percentage (%) | Shares held | Number of restricted shares | Pledged or frozen | |||
| Share status | Amount | |||||||
| YANTAI CHANGYU GROUP CO., LTD. | Domestic non-state legal person | 53.71% | 345,473,856 | 0 | Inapplicable | 0 | ||
| Fengdi JIANG | Domestic natural person | 0.69% | 4,452,200 | 0 | Inapplicable | 0 | ||
| Hairong HU | Domestic natural person | 0.55% | 3,515,035 | 0 | Inapplicable | 0 | ||
| VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | Foreign legal person | 0.54% | 3,446,137 | 0 | Inapplicable | 0 | ||
| Social Security Fund 114 | Other | 0.53% | 3,425,055 | 0 | Inapplicable | 0 | ||
| HONG KONG SECURITIES CLEARING COMPANY LIMITED | Foreign legal person | 0.51% | 3,266,518 | 0 | Inapplicable | 0 | ||
| VANGUARD EMERGING MARKETS STOCK INDEX FUND | Foreign legal person | 0.48% | 3,087,201 | 0 | Inapplicable | 0 |
| NORGES BANK | Foreign legal person | 0.36% | 2,333,030 | 0 | Inapplicable | 0 | ||
|---|---|---|---|---|---|---|---|---|
| Galaxy Jinhu Securities Asset Management - China Great Wall Asset Management Co., Ltd. - Galaxy Jinhu Quanxin Changying Selective Single - Asset Management Plan | Other | 0.29% | 1,847,841 | 0 | Inapplicable | 0 | ||
| CROWNBLE ENTERPRISES LIMITED | Foreign legal person | 0.28% | 1,808,992 | 0 | Inapplicable | 0 | ||
| Shareholding of top 10 shareholders with unrestricted shares (exclude the lending of shares through the margin lending and securities lending system) | ||||||||
| Name of Shareholders | Number of unrestricted shares held | Type of share | ||||||
| Type of share | Amount | |||||||
| YANTAI CHANGYU GROUP CO., LTD. | 345,473,856 | A share | 345,473,856 | |||||
| Fengdi JIANG | 4,452,200 | A share | 4,452,200 | |||||
| Hairong HU | 3,515,035 | A share | 3,515,035 | |||||
| VANGUARD TOTAL INTERNATIONAL STOCK INDEX FUND | 3,446,137 | B share | 3,446,137 | |||||
| Social Security Fund 114 | 3,425,055 | A share | 3,425,055 | |||||
| HONG KONG SECURITIES CLEARING COMPANY LIMITED | 3,266,518 | A share | 3,266,518 | |||||
| VANGUARD EMERGING MARKETS STOCK INDEX FUND | 3,087,201 | B share | 3,087,201 | |||||
| NORGES BANK | 2,333,030 | B share | 2,333,030 | |||||
| Galaxy Jinhu Securities Asset Management - China Great Wall Asset Management Co., Ltd. Galaxy Jinhu Quanxin Changying Selective Single - Asset Management Plan | 1,847,841 | A share | 1,847,841 | |||||
| CROWNBLE ENTERPRISES LIMITED | 1,808,992 | B share | 1,808,992 | |||||
| The explanation for the associated relationship and accordant action of the top 10 shareholders | Among the top 10 shareholders, Yantai Changyu Group Company Limited has no associated relationship or accordant action relationship with the other 9 listed shareholders, and the relationship among the other shareholders is unknown. | |||||||
| Explanation for the top 10 common shareholders who involved in financing activities and stock trading business (if have) | The top 10 shareholders did not involve in financing activities and stock trading business. |
Shareholders holding more than 5%, the top 10 shareholders and the top 10 shareholders of unrestricted tradable shares participate in the refinancing business to lend shares
- □Applicable Inapplicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed from the previous period due to refinancing lending/restitution reasons
- □Applicable Inapplicable
- 2) The table of the total number of the preferred shareholders and the shareholding status of the top 10 preferred shareholders
- □Applicable Inapplicable
- 3. Other Important Issues
- □Applicable Inapplicable
4. Quarterly Financial Statements
1) Financial statements
- ① Consolidated balance sheet Yantai Changyu Pioneer Wine Co., Ltd.
Unit: CNY
| Item | Ending balance | Beginning balance |
|---|---|---|
| Current Assets： | ||
| Monetary fund | 2,298,466,730 | 1,890,611,804 |
| Petty cash | ||
| Lending funds | ||
| Transactional financial assets | ||
| Derivative financial assets | ||
| Notes receivable | 100,000 | 102,342 |
| Accounts receivable | 171,436,435 | 264,932,724 |
| Receivables Financing | 213,310,742 | 228,073,841 |
| Accounts prepaid | 15,607,779 | 54,011,809 |
| Premiums receivable | ||
| Reinsurance accounts receivable | ||
| Receivable reserves for reinsurance contract | ||
| Other receivables | 132,272,353 | 127,713,309 |
| Including: Interest receivable | ||
| Dividends receivable | ||
| Buying back the sale of financial assets | ||
| Inventory | 2,879,395,265 | 2,836,077,209 |
| Including: data resource | ||
| Contract assets | ||
| Assets classified as holding for sale | ||
| Non-current assets expire in one year | ||
| Other current assets | 63,254,909 | 74,160,936 |
| Total Current Assets | 5,773,844,213 | 5,475,683,974 |
| Non-current Assets： | ||
| Offering loans and imprest | ||
| Debt investment | ||
| Other debt investment | ||
| Long-term account receivable | ||
| Long-term equity investment | 25,690,426 | 26,656,197 |
| Investment in other equity instrument | ||
| Other non-current financial assets | ||
| Real estate for investment | 11,934,475 | 19,900,228 |
| Fixed assets | 5,122,813,409 | 5,308,778,632 |
| Construction in progress | 6,544,025 | 4,313,088 |
| Biological assets for production | 55,630,048 | 60,098,714 |
| Oil and gas assets | ||
|---|---|---|
| Right-of-use assets | 83,943,540 | 55,252,509 |
| Intangible assets | 501,119,605 | 512,930,637 |
| Including: data resource | ||
| Development expenditure | ||
| Including: data resource | ||
| Goodwill | 88,036,557 | 88,036,557 |
| Long-term deferred expenses | 270,581,942 | 283,227,056 |
| Deferred tax assets | 185,509,792 | 215,680,654 |
| Other non-current assets | 43,735 | 43,735 |
| Total Non-Current Assets | 6,351,847,554 | 6,574,918,007 |
| Total Assets | 12,125,691,767 | 12,050,601,981 |
| Current liabilities： | ||
| Short-term loan | 195,782,904 | 240,674,788 |
| Borrowings from the Central Bank | ||
| Borrowing funds | ||
| Transactional financial liability | ||
| Derivative financial liabilities | ||
| Notes payable | 200,000,000 | |
| Accounts payable | 408,455,665 | 321,932,168 |
| Advances from customers | ||
| Contract liabilities | 120,565,886 | 135,067,463 |
| Sales/buyback financial assets | ||
| Customer and interbank deposits | ||
| Acting trading securities | ||
| Acting underwriting securities | ||
| Wage payable | 128,862,872 | 162,525,617 |
| Tax payable | 139,225,921 | 158,558,934 |
| Other accounts payable | 320,056,957 | 332,855,775 |
| Including: Interest payable | ||
| Dividend payable | 381,075 | |
| Payable handling fees and commission | ||
| Dividend payable for reinsurance | ||
| Liabilities classified as holding for sale | ||
| Non-current liabilities expire in one year | 88,621,584 | 75,440,910 |
| Other current liabilities | 16,275,369 | 27,193,862 |
| Total Current Liabilities | 1,617,847,158 | 1,454,249,517 |
| Non-Current Liabilities: | ||
| Insurance contract reserve | ||
| Long-term borrowings | 84,544,237 | 52,374,840 |
| Bonds payable | ||
| Including: Preferred Stock | ||
| Perpetual capital securities |
| Lease liability | 42,470,062 | 19,437,830 |
|---|---|---|
| Long-term accounts payable | ||
| Long-term accrued payroll | ||
| Estimated liabilities | ||
| Deferred income | 16,284,054 | 19,386,932 |
| Deferred tax liabilities | 6,277,320 | 6,613,894 |
| Other non-current liabilities | ||
| Total non-current liabilities | 149,575,673 | 97,813,496 |
| Total liabilities | 1,767,422,831 | 1,552,063,013 |
| Owner’s equity (or shareholders’ equity): | ||
| Capital stock | 643,280,128 | 657,240,128 |
| Other equity instruments | ||
| Including: Preferred Stock | ||
| Perpetual capital securities | ||
| Capital reserve | 277,278,990 | 364,048,502 |
| Minus: treasury stock | 37,880,941 | 37,880,941 |
| Other comprehensive income | -42,072,748 | -16,329,710 |
| Special reserves | ||
| Surplus reserve | 342,732,000 | 342,732,000 |
| General risk preparation | ||
| Undistributed profits | 9,024,550,419 | 9,037,437,598 |
| Total owner's equity attributable to the holding company | 10,207,887,848 | 10,347,247,577 |
| Minority interests | 150,381,088 | 151,291,391 |
| Total owner's equity | 10,358,268,936 | 10,498,538,968 |
| Total liabilities and owner's equity | 12,125,691,767 | 12,050,601,981 |
Legal representative: Zhou Hongjiang; Person in charge of accounting : Guo Cuimei; Person in charge of accounting organ: Guo Cuimei
② Consolidated profit statement
Unit: CNY
| Item | Amount in this report period | Amount in prior report period |
|---|---|---|
| 1. Revenue | 2,253,709,184 | 2,115,970,388 |
| Including: Operating income | 2,253,709,184 | 2,115,970,388 |
| Interest income | ||
| Earned premium | ||
| Handling fees and commission income | ||
| 2. Total operating costs | 2,033,229,194 | 1,865,903,747 |
| Including: Operating costs | 953,285,056 | 887,474,818 |
| Interest expenditure | ||
| Handling fees and commission expenditure |
| Premium rebate | ||
|---|---|---|
| Net amount of indemnity expenditure | ||
| Net amount of insurance contract reserve fund withdrawal | ||
| Policy bonus payment | ||
| Amortized reinsurance expenditures | ||
| Taxes and surcharges | 180,590,882 | 159,652,328 |
| Selling expenses | 683,181,171 | 630,938,743 |
| Administrative expenses | 188,015,210 | 188,042,944 |
| Research and development expenditure | 14,598,284 | 13,068,257 |
| Financial expenses | 13,558,591 | -13,273,343 |
| Including: Interest expenses | 8,173,837 | 7,564,187 |
| Interest income | 7,445,432 | 9,474,824 |
| Plus:Other income | 14,784,267 | 26,016,594 |
| Investment profit (loss is listed with "-") | -965,771 | 1,529,675 |
| Including: Investment profit for joint-run business and joint venture | -965,771 | 488,276 |
| 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 is listed with “-”) | ||
| Fair value charge profit (loss is listed with "-") | ||
| Loss of credit impairment(loss is listed with "-") | -2,210,222 | 160,681 |
| Loss for impairment of assets(loss is listed with "-") | 545,067 | -3,906,302 |
| Assets disposal income (loss is listed with "-") | 25,379 | 304,638 |
| 3. Operating profit (loss is listed with "-") | 232,658,710 | 274,171,927 |
| Plus: Non-operating income | 3,086,952 | 2,165,880 |
| Minus: Non-operating expenditure | 400,747 | 2,565,728 |
| 4. Total profits (total loss is listed with "-") | 235,344,915 | 273,772,079 |
| Minus: Income taxes | 81,255,625 | 82,107,142 |
| 5. Net profit (net loss is listed with "-") | 154,089,290 | 191,664,937 |
| （一）Classification by continuous operation | ||
| 1.Net profit from continuous operation(net loss is listed with "-") | 154,089,290 | 191,664,937 |
| 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 | 151,422,853 | 187,514,296 |
| 2. Minority interests | 2,666,437 | 4,150,641 |
| 6. Net value of other comprehensive income after tax | -28,938,702 | 15,993,830 |
| 6.1 Net value of other comprehensive income after tax of holding company's owners | -25,743,038 | 14,788,725 |
| 6.1.1 Other comprehensive income that will not be classified 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 that cannot be transfer to gain/loss | ||
| 6.1.1.3 Change of fair value of investment in other equity instrument | ||
| 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 be classified into the profit and loss | -25,743,038 | 14,788,725 |
| 6.1.2.1 Other comprehensive income under equity method that can transfer to gain/loss | ||
| 6.1.2.2 Change of fair value of other debt investment | ||
| 6.1.2.3 Amount of financial assets re-classify to other comprehensive income | ||
| 6.1.2.4 Credit impairment provision for other debt investment | ||
| 6.1.2.5 Cash flow hedging reserve | ||
| 6.1.2.6 Translation differences arising on translation of foreign currency financial statements | -25,743,038 | 14,788,725 |
| 6.1.2.7 Other | ||
| 6.2 Net value of other comprehensive income after tax of minority shareholders | -3,195,664 | 1,205,105 |
| 7.Total comprehensive Income | 125,150,588 | 207,658,767 |
| Total comprehensive income of holding company | 125,679,815 | 202,303,021 |
| Total comprehensive income of minority shareholders | -529,227 | 5,355,746 |
| 8. Earnings per share | ||
| 8.1 Basic earnings per share | 0.24 | 0.28 |
| 8.2 Diluted earnings per share | 0.24 | 0.28 |
During this report period, the issue relates to company consolidation under common control, consolidated party completes net profit amount of CNY0 before being consolidated, and consolidated party completes net profit amount of CNY0 in the prior period.
Legal representative: Zhou Hongjiang; Person in charge of accounting: Guo Cuimei; Person in charge of accounting organ: Guo Cuimei
③ Consolidated cash flow statement
Unit: CNY
| Item | Amount in this report period | Amount in prior report period |
|---|---|---|
| 1. Cash flows from operating activities: |
| Cash received from sales of goods and rending of services | 2,584,457,789 | 2,325,057,608 |
|---|---|---|
| Net increase in customer and interbank deposits | ||
| Net increase in borrowings from central bank | ||
| Net increase in borrowings from other financial institutions | ||
| Cash received from receiving insurance premium of original insurance contract | ||
| Net cash received from reinsurance business | ||
| Net increase of deposit of insured and investment fund | ||
| Cash received from collecting interest, handling fees and commission | ||
| Net increase in borrowings | ||
| Net increase in repurchasement business funds | ||
| Net cash received from securities trading agency | ||
| Tax refund received | 31,842,060 | 35,773,264 |
| Other cash received related to operating activities | 41,195,667 | 50,093,751 |
| Sub-total of cash inflows of operating activities | 2,657,495,516 | 2,410,924,623 |
| Cash paid for goods and services | 856,899,925 | 916,444,213 |
| Net increase in customer loans and advances | ||
| Net increase in deposits in central bank and interbank deposits | ||
| Cash paid to original insurance contract payments | ||
| Net increase in lending funds | ||
| Cash paid to interest, handling fees and commission | ||
| Cash paid to policy bonus | ||
| Cash paid to and on behalf of employees | 291,422,904 | 308,857,930 |
| Cash paid for taxes and expenses | 457,787,322 | 461,010,537 |
| Other cash paid related to operating activities | 347,950,857 | 366,699,600 |
| Sub-total of cash outflows of operating activities | 1,954,061,008 | 2,053,012,280 |
| Net cash flow from operating activities | 703,434,508 | 357,912,343 |
| 2. Cash flow from investing activities: | ||
| Cash received from return of investment | 75,650,000 | 51,000,000 |
| Cash received from obtaining investment profit | 858,065 | 1,674,162 |
| Cash received from disposal of fixed assets, intangible assets and other long-term assets | 12,152,207 | 114,536,468 |
| Net cash received from disposal of branch and other business unit | ||
| Other cash received related to investing activities | ||
| Sub-total of cash inflows of investment activities | 88,660,272 | 167,210,630 |
| Cash paid to acquire fixed assets, intangible asset and other long-term assets | 35,956,740 | 57,165,731 |
|---|---|---|
| Cash for investments | 133,200,000 | 18,000,000 |
| Net increase in hypothecated loan | ||
| Net cash paid to acquire branch and other business unit | ||
| Other cash paid related to investment activities | 1,684,581 | |
| Subtotal of cash outflows of investment activities | 169,156,740 | 76,850,312 |
| Net cash flow from investing activities | -80,496,468 | 90,360,318 |
| 3. Cash flow from financing activities | ||
| Cash received from acquiring investment | ||
| Cash received from acquiring minority shareholders' investment by branch | ||
| Cash received from acquiring loans | 420,506,122 | 375,943,769 |
| Other cash received related to financing activities | ||
| Sub-total cash inflows of financing activities | 420,506,122 | 375,943,769 |
| Cash paid to repay debts | 399,809,108 | 347,349,459 |
| Cash paid to distribute dividend, profit or pay interest | 173,729,515 | 282,464,867 |
| Dividend and profit paid to minority shareholders by branch | ||
| Other cash paid related to financing activities | 113,775,814 | 115,453,236 |
| Sub-total of cash outflows of financing activities | 687,314,437 | 745,267,562 |
| Net cash flow from financing activities | -266,808,315 | -369,323,793 |
| 4. Influences of exchange rate fluctuation on cash and cash equivalents | -2,781,554 | 2,524,765 |
| 5. Net Increase of cash and cash equivalents | 353,348,171 | 81,473,633 |
| Plus: balance at the beginning of the period of cash and cash equivalents | 1,839,128,089 | 1,717,727,551 |
| 6. Balance at the end of the period of cash and cash equivalents | 2,192,476,260 | 1,799,201,184 |
2) The first implementation of the new accounting standards from 2026 adjusts the first implementation of the relevant items in the financial statements at the beginning of the year
Applicable Inapplicable
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 October 24, 2026
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