[年报]张 裕B(200869):2021年年度报告摘要(英文版)

时间:2022年04月27日 22:16:02 中财网
原标题:张 裕B:2021年年度报告摘要(英文版)

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 whole contents of annual report. If investors desire to comprehensively understand the Company’s 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 directors have personally attended the meeting for deliberating the
annual report.

Name of director not personally attending the meetingPosition of director not personally attending the meetingReason of not personally attending the meetingName of entrustee
Aldino MarzoratiDirectorConflict with working hoursZhou Hongjiang
Stefano BattioniDirectorConflict with working hoursLeng Bin
Enrico SivieriDirectorConflict with working hoursZhou Hongjiang

Non-standard audit opinion notice
?Available ?Not available

The preliminary scheme of the report period’s ordinary share profit distribution or increasing equity
with reserve deliberated by the board of the directors
?Available ?Not available

Whether to increase equity with reserve
?Yes ?No

The Company’s preliminary scheme of profit distribution deliberated and passed by the board of directors this time is shown as following: Based on the Company’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 period deliberated and passed
by the board of directors
?Available ?Not available

2. Basic information of the Company

(1) Brief introduction of the Company


Abbreviation of SharesChangyu A, Changyu BCode number of the Shares000869, 200869
Place of listing of SharesShenzhen Stock Exchange  
Contact person and informationSecretary to the Board of DirectorsAuthorized Representative of the Securities Affairs 
NameMr. Jiang JianxunMr. Li Tingguo 
Address56 Dama Road, Yantai, Shandong, China56 Dama Road, Yantai, Shandong, China 
Fax0086-535-66336390086-535-6633639 
Tel0086-535-66027610086-535-6633656 
E-mail[email protected][email protected] 

(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 Company’s main businesses are production and operation 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 Company’s main businesses. The wine industry that the
Company involved in is still in growth stage. Although 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 consumption 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 Company’s products were divided into two series: wine and brandy. For 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
st
As of December 31 , 2021, 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 nameFood categoryObtaining timeObtaining methodFood production license number
Shaanxi Chateau Changyu Rena Co., Ltd.Alcohol2020.10.19Approval from government authoritySC11561040400532
Yantai Chateau Koya Brandy Co., Ltd.Alcohol2021.01.11Approval from government authoritySC11537063601165
3) Major sales mode
The Company’s main sales mode was the distribution mode, and main sales channel was offline sales, that is, the
Company’s 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
① Situation of change in the number of distributors

RegionNumber at the beginning of 2021Increased number during this report periodNumber at the end of 2021
Eastern China17021551857
South China54124565
Central China479-3476
North China3587365
Northwest China15628184
Southwest China41182493
Northeast China28929318
HongKong, Macao,Taiwan China and overseas51162573
Total44473844831
② 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% ?Available ?Not available
③ Sales of online direct selling
?Available ?Not available



Sales model2021  2020  
 Operating income (CNY)Operating cost (CNY)Gross marginOperating income (CNY)Operating cost (CNY)Gross margin
Distribution3,263,303,8001,349,422,48158.65%2,945,453,5501,289,537,26456.22%
Direct sales689,763,784298,367,39356.74%449,948,451214,340,14352.36%
Total3,953,067,5831,647,789,87458.32%3,395,402,0011,503,877,40755.71%
 for more than 10% of total operating periodincome in current nit:CNY’0000    
Procurement modeProcurement contentThe amount of the main procurement content    
Price determined by quality comparison with standard price itemsRaw materials such as grapes/ bulk wine49,125.70    
Tender/Price determined by quality comparison with standard price itemsPackaging materials53,324.70    
Tender/Price determined by quality comparison with standard price itemsBrewing materials2,262.50    
Tender/Price determined by quality comparison with standard price itemsVineyard supplies1,082.80    
ContractFuel and power2,945.50    
Price determined by quality comparison with standard price itemsOther wines and derivatives1,651.80    
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 major outsourced raw materials exceeds 30% ?Available ?Not available
⑥ Major production mode
The production mode of the Company is self-produce.
Manufacturing consignment
?Available ?Not available
⑦ Major components of operating costs

SectorProject2021 2020 Year-on-year increase or decrease (%)
  AmountProportion in the operating cost (%)AmountProportion in the operating cost (%) 
Liquor and alcoholicBlending liquor833,479,06251.93%731,348,21449.42%13.96%
 Packing material477,555,06529.76%457,572,88930.92%4.37%
 Wages59,063,4863.68%56,969,3843.85%3.68%
beverageManufacturing expenses234,857,16014.63%234,032,84015.81%0.35%
WineBlending liquor611,321,50451.55%540,591,70249.07%13.08%
 Packing material328,926,66827.74%326,909,74129.67%0.62%
 Wages50,206,3194.23%48,585,7434.41%3.34%
 Manufacturing expenses195,416,59516.48%185,657,86716.85%5.26%
BrandyBlending liquor220,058,43953.02%190,756,51252.20%15.36%
 Packing material147,425,67435.52%130,663,14835.76%12.83%
 Wages8,708,4162.10%8,383,6412.29%3.87%
 Manufacturing cost38,849,0779.36%35,597,7659.75%9.13%
⑧ Yield and inventory

SectorProjectUnit20212020Year-on-year increase or decrease (%)
Alcohol and alcoholic beverage industrySales volumeTon97,49998,414-0.93%
 YieldTon100,73793,9907.18%
 InventoryTon30,41228,5226.63%
WineSales volumeTon67,70070,662-4.19%
 YieldTon67,34267,477-0.20%
 InventoryTon16,10415,8981.30%
BrandySales volumeTon29,79927,7527.38%
 YieldTon33,39426,51325.95%
 InventoryTon14,30812,62413.34%

⑨ Explanation for other major situation
During the report period, there did not exist the situation 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 retrospectively adjust or restate the accounting data of previous fiscal
years.
?Yes ?No






Unit: CNY

 December 31, 2021December 31, 2020Increase/decrease compared with last year-end (%)December 31, 2019
Total assets (CNY)13,472,009,75413,102,481,5412.82%13,647,932,568
Net Assets attributed to shareholders of the listed company (CNY)10,447,884,18310,267,832,6441.75%10,308,910,198
 20212020Increase/decrease compared with last year (%)2019
Operating revenue (CNY)3,953,067,5833,395,402,00116.42%5,074,025,899
Net profit attributed to shareholders of the listed company (CNY)500,102,606470,860,5876.21%1,141,367,296
Net profit attributed to shareholders of the listed company after deducting non-recurring profits and losses (CNY)472,235,962397,655,18718.76%892,496,644
Net cash flows from operating activities (CNY)1,125,382,658505,146,673122.78%848,852,360
Basic earnings per share (CNY)0.730.695.80%1.67
Diluted earnings per share (CNY)0.730.695.80%1.67
Weighted average for earning rate of net assets (CNY)4.84%4.57%0.27%11.40%

2) Key accounting data by quarter
Unit: CNY

 st 1 Quarternd 2 Quarterrd 3 Quarterth 4 Quarter
Operating revenue1,134,006,251740,454,186796,762,0471,281,845,099
Net profit attributed to shareholders of the listed company286,745,34085,076,47979,742,46048,538,327
Net profit attributed to shareholders of the listed company after deducting non-recurring profits and losses280,760,22272,915,82067,549,12451,010,796
Net cash flows from operating activities314,895,523141,039,626336,257,978333,189,531

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
(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 shareholders

Unit: share

Total shareholders in the report period51,552Total number of shareholders by the end of last month before the disclosure day of the annual report50,528Total number of preferred shareholder recovering voting power by the end of report period0Total number of preferred shareholder recovering voting power by the end of last month before the disclosure day of the annual report0
Situation of shares held by top ten shareholders       
Name of ShareholdersCharacter of shareholdersPercentage (%)Amount of holding sharesNumber of restricted sharesPledged or frozen  
     Share statusAmount 
YANTAI CHANGYU GROUP CO., LTD.Domestic non-state legal person50.40%345,473,856 -- 
GAOLING FUND, L.P.Foreign legal person3.08%21,090,219 -- 
BBH BOS S/A FIDELITY FD - CHINA FOCUS FDForeign legal person1.33%9,140,216 -- 
SHENWAN HONGYUAN SECURITIES(HONGKONG) LIMITEDForeign legal person1.08%7,413,952 -- 
FIDELITY PURITAN TRUST: FIDELITY SERIES INTRINSIC OPPORTUNITIES FUNDForeign legal person0.93%6,350,762 -- 
Haitong International Securities Company Limited-Account ClientForeign legal person0.74%5,060,702 -- 
GUOTAI JUNAN SECURITIES (HONGKONG) LIMITEDForeign legal person0.73%5,011,871 -- 
Fengdi JIANGDomestic natural person0.71%4,854,000 -- 
China Merchants Futures (Hong Kong) Co., LimitedForeign legal person0.67%4,589,660 -- 
VANGUARD EMERGING MARKETS STOCKForeign legal person0.61%4,170,863 -- 

INDEX FUND      
The explanation for the associated relationship and accordant actionAmong 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 and stock trading business (if have)The top 10 shareholders did not involve in financing activities and stock trade business.     

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.


















3) Introduction for property right and control relations between the Company and its actual controllers (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




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