[三季报]重庆啤酒(600132):重庆啤酒股份有限公司2023年第三季度报告（英文版）
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时间：2023年10月31日 09:38:03 中财网 |
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原标题: 重庆啤酒: 重庆啤酒股份有限公司2023年第三季度报告（英文版）
Stock Code: 600132 Stock Abbreviation: Chongqing Brewery
Chongqing Brewery Co., Ltd.
Q3 Report of 2023
The board of directors and all directors of the company guarantee that this
announcement is free of any false records, misleading statements or significant
omissions, and that they will bear legal responsibility for the authenticity, accuracy
and completeness of its content.Reminder of important content:
The board of directors, board of supervisors, directors, supervisors and senior management of the company guarantee that this quarterly report contains true, accurate and complete information and is free of any false records, misleading statements or significant omissions, and that they will be
jointly and severally liable for the legal consequences.
The legal representative of the company, officer in charge of accounting and head of accounting department (the chief accountant) guarantee that the financial information in the quarterly report is
true, accurate and complete.
Whether the Q3 financial statements are audited
□Yes √No
I. Key financial information
(I) Major accounting data and financial indicators
Unit: yuan Currency: RMB
| Item | For the quarter
ended September
30, 2023 (“the
reporting period”) | For the quarter ended September 30,
2022 | | Rate of
change (%) | For the three
quarters ended
September 30, 2023 | For the three quarters ended September 30,
2022 | Rate of
change (%) | | | | | Before After
retrospective retrospective
adjustment adjustment | After
retrospective
adjustment | | | | | | | | | | | | | Before
retrospective
adjustment | After
retrospective
adjustment | After
retrospective
adjustment | | Operating revenue | 4,523,879,342.82 | 4,247,364,892.75 | 4,247,364,892.75 | 6.51% | 13,028,681,199.38 | 12,183,116,035.30 | 12,183,116,035.30 | 6.94% | | Net profit attributable to
shareholders of the
Company | 479,080,499.95 | 454,728,429.61 | 454,867,771.85 | 5.32% | 1,344,089,296.32 | 1,182,303,204.39 | 1,182,418,780.75 | 13.67% | | Net profit attributable to
shareholders of the
Company excluding
non-recurring gains and
losses | 472,823,195.86 | 445,285,432.32 | 445,424,774.56 | 6.15% | 1,326,981,171.32 | 1,161,030,910.61 | 1,161,146,486.97 | 14.28% | | Net cash flows from
operating activities | —— | —— | —— | —— | 3,718,311,643.18 | 4,202,540,081.28 | 4,202,540,081.28 | -11.52% | | Basic earnings per share | 0.99 | 0.94 | 0.94 | 5.32% | 2.78 | 2.44 | 2.44 | 13.67% | | Diluted earnings per
share | 0.99 | 0.94 | 0.94 | 5.32% | 2.78 | 2.44 | 2.44 | 13.67% | | Weighted average ROE
(%) | 25.27 | 26.08 | 26.09 | Decreased by
0.82 p.p. | 61.99 | 61.67 | 61.68 | Increased by
0.31 p.p. | | | As of September 30, 2023 | As of December 31, 2022 | | Rate of change (%) | | | | | | | | Before retrospective adjustment | After retrospective adjustment | After retrospective adjustment | | | | | | Total assets | 14,049,739,569.56 | 12,497,542,168.83 | 12,497,582,459.14 | 12.42% | | | | | | Net assets attributable
to shareholders of the
Company | 2,140,727,533.54 | 2,056,155,782.63 | 2,056,176,499.91 | 4.11% | | | | |
Note: "The reporting period" refers to the quarter ended September 30, 2023, the same below. The illustration of retrospective adjustment
The Ministry of Finance issued the “Interpretation of China Accounting Standards for Business Enterprises No. 16” (Cai Kuai [2022] No. 31) (the “Interpretation No.
16”) on November 30, 2022, and the regulations about accounting for deferred tax related to assets and liabilities arising from a single transaction to which the initial
recognition exemption does not apply took effect since January 1, 2023. For taxable and deductible temporary differences associated with lease liabilities and right-of-
use assets arising from single transactions and presented at the beginning of the earliest comparative period due to the initial adoption of the Interpretation No. 16, the
Company adjusts them to retained earnings or other financial statement items at the beginning of the earliest comparative period presented in accordance with regulations
in the Interpretation No. 16 and the “Interpretation of China Accounting Standards for Business Enterprises No. 18 – Income Tax”.
(II) Non-recurring gains and losses
Unit: yuan Currency: RMB
| Items | For the quarter
ended September 30,
2023 | For the three
quarters ended
September 30, 2023 | Remarks | | Gains or losses on disposal of non-
current assets | -943,356.19 | -553,378.44 | | | Government grants included in profit
or loss (excluding those closely related
to operating activities of the Company
and continuously enjoyed with certain
quantity/quota based on certain
national standards) | 15,003,212.78 | 37,707,931.72 | | | Gains or losses on changes in fair
value of held-for-trading financial
assets, derivative financial assets, held-
for-trading financial liabilities and
derivative financial liabilities, and
investment income from disposal of
held-for-trading financial assets,
derivative financial assets, held-for-
trading financial liabilities, derivative
financial liabilities and other debt
investments, excluding those arising
from hedging business related to
operating activities | 1,996,185.53 | 2,157,185.53 | | | Reversals for impairment of
receivables and contract assets based
on impairment testing on an individual
basis | - | 85,105.55 | | | Other non-operating revenue or
expenditures | -192,075.89 | 1,806,213.66 | | | Other profit or loss satisfying the
definition of non-recurring profit or
loss | 350,618.42 | 2,159,327.10 | | | Less: Enterprise income tax affected | 3,839,093.50 | 9,461,547.37 | | | Effect on non-controlling interest
(after tax)） | 6,118,187.06 | 16,792,712.75 | | | Total | 6,257,304.09 | 17,108,125.00 | |
Explain the reasons if the Company classifies an item as a recurring gain/loss item, which is enumerated as a non-recurring gain/loss in the :
(III) The conditions and reason of change for major accounting data and financial indicators □Applicable √N/A
II. Main operating conditions during the reporting period
(I) Main operating conditions
For the first three quarters of 2023, the beer production of large-scale enterprises nationwide reached
29.933 million kiloliters, an increase of 2.1% compared with the same period last year. (Data sourced from the National Bureau of Statistics of China).
For the first three quarters of 2023, the Company sold 2.6517 million kiloliters of beer, an increase
of 4.95% compared with 2.5265 million kiloliters over the same period of last year. The operating revenue was RMB13.029 billion yuan, an increase of 6.94% compared with RMB12.183 billion yuan over the same period of last year. Net profit attributable to shareholders of the Company for the first three quarters of 2023 amounted to RMB1.344 billion yuan, an increase of 13.67% compared with RMB1.182 billion yuan over the same period of last year. Net profit attributable to shareholders of the Company excluding non-recurring profit or loss amounted to RMB1.327 billion yuan, an increase of 14.28% compared with RMB1.161 billion yuan over the same period of last year.
(II) Revenue by product grade
Unit: yuan Currency: RMB
| Product grade | For the three quarters ended
September 30, 2023
Main business revenue | For the three quarters ended
September 30, 2022
Main business revenue | YoY (%) | | Premium | 4,344,877,746.91 | 4,309,466,842.89 | 0.82 | | Mainstream | 6,785,047,039.76 | 6,037,871,551.07 | 12.37 | | Economic | 1,631,233,692.71 | 1,580,190,768.16 | 3.23 | | Total | 12,761,158,479.38 | 11,927,529,162.12 | 6.99 |
Note: The product grade of the company is divided by consumer price, i.e. premium product indicates consumer price of RMB 10 yuan and above, mainstream product indicates consumer price of RMB 6-10 yuan, and economic product indicates consumer price of RMB 6 yuan and below.
(III) Revenue by marketing channel
Unit: yuan Currency: RMB
| Channel type | For the three quarters ended
September 30, 2023
Main business revenue | For the three quarters ended
September 30, 2022
Main business revenue | YoY (%) | | Wholesale | 12,729,364,124.06 | 11,875,522,372.85 | 7.19 |
(IV) Revenue by region
Unit: yuan Currency: RMB
| Region | For the three quarters ended
September 30, 2023
Main business revenue | For the three quarters ended
September 30, 2022
Main business revenue | YoY (%) | | South | 3,644,313,241.15 | 3,011,145,413.83 | 21.03 | | Central | 5,349,507,527.31 | 5,144,323,769.30 | 3.99 | | North-West | 3,767,337,710.92 | 3,772,059,978.99 | -0.13 | | Total | 12,761,158,479.38 | 11,927,529,162.12 | 6.99 |
Note: The administration area of the company is divided into three regions: Southern region, Central
region and North-West region.
(V) Dealers
For the quarter ended September 30, 2023, the company added 168 dealers and reduced 168 dealers, with a total of 2,965 dealers at the end of the reporting period, which was unchanged from
June 30, 2023.
III. Shareholders
(I) Total number of ordinary shareholders, number of preferred shareholders with resumed voting power and shareholding of top 10 shareholders
Unit: share
| Total number of ordinary
shareholders at the end of
the reporting period | 52,784 | Total number of preferred
shareholders with resumed voting
power at the end of the reporting
period (if any) | N/A | | | | | Shareholdings of top 10 shareholders | | | | | | | | Name of shareholder | Nature of
shareholder | Number of
shares held | Shareholding
(%) | Number of
restricted
shares held | Pledge, marking
or freezing | | | | | | | | Share
status | Amount | | Carlsberg Brewery Hong
Kong Limited | Overseas
legal person | 205,882,718 | 42.54 | 0 | None | | | Carlsberg Chongqing
Limited | Overseas
legal person | 84,500,000 | 17.46 | 0 | None | | | Hong Kong Securities
Clearing Co., Ltd. | Overseas
legal person | 32,294,027 | 6.67 | 0 | Unknown | | | Dajia Life Insurance Co.,
Ltd.－ all-purpose product | Other | 3,434,374 | 0.71 | 0 | Unknown | | | China Construction Bank
of China Co., Ltd. -
Penghua China Securities
Wine Trading Open Index
Securities Investment Fund | Other | 2,892,402 | 0.60 | 0 | Unknown | | | China Life Insurance Co.,
Ltd. - traditional-general
insurance product－ 005L
－CT001 Shanghai | Other | 2,743,606 | 0.57 | 0 | Unknown | | | One-one-zero portfolio of
National Social Security
Fund | Other | 2,174,538 | 0.45 | 0 | Unknown | | | One-one-eight portfolio of
National Social Security
Fund | Other | 2,141,368 | 0.44 | 0 | Unknown | | | China Merchants Bank
Co., Ltd. - Hongde Ruize
Hybrid Securities
Investment Fund | Other | 1,929,177 | 0.40 | 0 | Unknown | | | China Merchants Bank
Co., Ltd. - Hongde
Ruiyuan 3-Year Term
Flexible Hybrid Securities
Investment Fund | Other | 1,911,002 | 0.39 | 0 | Unknown | | | Shareholdings of top 10 unrestricted shareholders | | | | | | | | Name of shareholder | Number of outstanding unrestricted
shares held | Share category and
quantity | | | | | | | | Share
category | Amount | | | | | Carlsberg Brewery Hong
Kong Limited | 205,882,718 | RMB
ordinary
shares | 205,882,718 | | | | | Carlsberg Chongqing
Limited | 84,500,000 | RMB
ordinary
shares | 84,500,000 | | | | | Hong Kong Securities
Clearing Co., Ltd. | 32,294,027 | RMB
ordinary
shares | 32,294,027 | | | | | Dajia Life Insurance Co.,
Ltd.－ all-purpose product | 3,434,374 | RMB
ordinary
shares | 3,434,374 | | | | | China Construction Bank
of China Co., Ltd. -
Penghua China Securities
Wine Trading Open Index
Securities Investment Fund | 2,892,402 | RMB
ordinary
shares | 2,892,402 | | | | | China Life Insurance Co.,
Ltd. - traditional-general
insurance product－ 005L
－CT001 Shanghai | 2,743,606 | RMB
ordinary
shares | 2,743,606 | | | |
| One-one-zero portfolio of
National Social Security
Fund | 2,174,538 | RMB
ordinary
shares | 2,174,538 | | One-one-eight portfolio of
National Social Security
Fund | 2,141,368 | RMB
ordinary
shares | 2,141,368 | | China Merchants Bank
Co., Ltd. - Hongde Ruize
Hybrid Securities
Investment Fund | 1,929,177 | RMB
ordinary
shares | 1,929,177 | | China Merchants Bank
Co., Ltd. - Hongde
Ruiyuan 3-Year Term
Flexible Hybrid Securities
Investment Fund | 1,911,002 | RMB
ordinary
shares | 1,911,002 | | Remarks on related-party
relationships among the
aforesaid shareholders or
actions in concert | Among the top ten unrestricted shareholders, Carlsberg Chongqing
Limited and Carlsberg Brewery Hong Kong Limited are both controlled
by Carlsberg Breweries A/S. China Merchants Bank Co., Ltd. - Hongde
Ruize Hybrid Securities Investment Fund and China Merchants Bank
Co., Ltd. - Hongde Ruiyuan 3-Year Term Flexible Hybrid Securities
Investment Fund are both managed by Hongde Fund Management Co.,
Ltd. It is unknown whether the other shareholders are related to each
other and whether the other shareholders are acting in concert. | | |
IV. Other reminders
Other important information about the company’s operations during the reporting period that investors should be reminded of.
√Applicable □N/A
th th
On September 26, 2023, the 11 meeting of the 10 Board of Directors of the company reviewed and passed the "Proposal on the Related Party Transaction Regarding the Acquisition of 100% Equity in Beijing Capital Brewing Jinmai Trading Co., Ltd. and G-Shell Asia Pacific (Beijing) Food Co., Ltd.". On October 10, 2023, Carlsberg Chongqing Brewery Co., Ltd., the controlling subsidiary of the Company, completed the acquisition of 100% equity of the two companies. The equity transfer has been registered with the competent market supervision and management department. Beijing Capital Brewing Jinmai Trading Co., Ltd. and G-Shell Asia Pacific (Beijing) Food Co., Ltd. have become controlling subsidiaries of the Company.
V. Quarterly Financial Statements
(I) Audit Opinion
□Applicable √N/A
(II) Financial Statements
Consolidated Balance Sheet
As of September 30, 2023
Prepared by: Chongqing Brewery Co., Ltd.
Unit: yuan Currency: RMB
| Items | September 30, 2023 | December 31, 2022 | | Cash and bank balances | 4,900,980,743.13 | 3,397,877,592.02 | | Settlement funds | | | | Loans to other banks | | | | Held-for-trading financial assets | 360,170,000.00 | | | Derivative financial assets | 4,065,215.92 | 3,829,356.40 | | Notes receivable | | | | Accounts receivable | 139,470,074.79 | 65,511,539.08 | | Receivables financing | | | | Advances paid | 32,618,290.35 | 43,187,607.98 | | Premiums receivable | | | | Reinsurance accounts receivable | | | | Reinsurance reserve receivable | | | | Other receivables | 240,739,715.20 | 17,619,026.18 | | Including: Interest receivable | | | | Dividend receivable | 218,285,820.47 | | | Financial assets under reverse repo | | | | Inventories | 1,615,753,078.37 | 2,166,477,563.20 | | Contract assets | | | | Assets held for sale | | | | Non-current assets due within one
year | | | | Other current assets | 51,497,523.93 | 109,533,473.56 | | Total current assets | 7,345,294,641.69 | 5,804,036,158.42 | | Loans and advances | | | | Debt investments | | | | Other debt investments | | | | Long-term receivables | | | | Long-term equity investments | 139,111,102.38 | 296,599,881.05 | | Other equity instrument investments | 15,580,410.62 | 14,303,331.73 | | Other non-current financial assets | | | | Investment property | | | | Fixed assets | 3,631,275,694.57 | 3,680,691,105.17 | | Items | September 30, 2023 | December 31, 2022 | | Construction in progress | 548,949,865.58 | 395,295,204.91 | | Productive biological assets | | | | Oil & gas assets | | | | Right-of-use assets | 90,373,030.26 | 100,306,926.11 | | Intangible assets | 679,247,154.48 | 685,169,039.95 | | Development expenditures | | | | Goodwill | 699,192,456.06 | 699,192,456.06 | | Long-term prepayments | | | | Deferred tax assets | 741,490,056.76 | 732,447,606.34 | | Other non-current assets | 159,225,157.16 | 89,540,749.40 | | Total non-current assets | 6,704,444,927.87 | 6,693,546,300.72 | | Total assets | 14,049,739,569.56 | 12,497,582,459.14 | | Short-term borrowings | | | | Central bank loans | | | | Loans from other banks | | | | Held-for-trading financial liabilities | | | | Derivative financial liabilities | 15,484,973.48 | 2,616,336.56 | | Notes payable | | | | Accounts payable | 3,111,861,451.99 | 2,497,671,747.37 | | Advances received | | | | Contract liabilities | 1,721,972,120.21 | 1,614,042,546.14 | | Financial liabilities under repo | | | | Absorbing deposit and interbank
deposit | | | | Deposit for agency security
transaction | | | | Deposit for agency security
underwriting | | | | Employee benefits payable | 384,386,840.33 | 399,367,324.65 | | Taxes and rates payable | 439,144,540.41 | 255,387,461.35 | | Other payables | 2,753,573,559.61 | 3,490,319,176.38 | | Including: Interest payable | | | | Dividend payable | | | | Handling fee and commission
payable | | | | Reinsurance accounts payable | | | | Liabilities held for sale | | | | Non-current liabilities due within
one year | 23,520,834.28 | 24,005,592.21 | | Other current liabilities | 18,656,923.91 | 27,809,237.78 | | Total current liabilities | 8,468,601,244.22 | 8,311,219,422.44 | | Insurance policy reserve | | | | Long-term borrowings | | | | Items | September 30, 2023 | December 31, 2022 | | Bonds payable | | | | Including: Preferred shares | | | | Perpetual bonds | | | | Lease liabilities | 71,861,479.85 | 77,928,597.87 | | Long-term payables | | | | Long-term employee benefits payable | 150,783,121.68 | 154,407,707.35 | | Provisions | 31,426,902.27 | 31,657,899.75 | | Deferred income | 252,002,160.78 | 256,611,695.14 | | Deferred tax liabilities | 40,652,106.11 | 42,694,067.15 | | Other non-current liabilities | | | | Total non-current liabilities | 546,725,770.69 | 563,299,967.26 | | Total liabilities | 9,015,327,014.91 | 8,874,519,389.70 | | Share capital | 483,971,198.00 | 483,971,198.00 | | Other equity instruments | | | | Including: Preferred shares | | | | Perpetual bonds | | | | Capital reserve | 10,901,252.00 | 7,728,100.00 | | Less: Treasury shares | | | | Other comprehensive income | -17,929,220.42 | -13,542,920.53 | | Special reserve | | | | Surplus reserve | 241,985,599.00 | 241,985,599.00 | | General risk reserve | | | | Undistributed profit | 1,421,798,704.96 | 1,336,034,523.44 | | Total equity attributable to the
parent company | 2,140,727,533.54 | 2,056,176,499.91 | | Non-controlling interest | 2,893,685,021.11 | 1,566,886,569.53 | | Total equity | 5,034,412,554.65 | 3,623,063,069.44 | | Total liabilities & equity | 14,049,739,569.56 | 12,497,582,459.14 |
Legal representative: Jo?o Miguel Ventura Rego Abecasis
Officer in charge of accounting: Chin Wee Hua
Head of accounting department: Liping Liu
Consolidated Income Statement
For the Three Quarters Ended September 30, 2023
Unit: yuan Currency: RMB
| Items | For the three quarters
ended September 30,
2023 | For the three quarters
ended September 30,
2022 | | I. Total operating revenue | 13,028,681,199.38 | 12,183,116,035.30 | | Including: Operating revenue | 13,028,681,199.38 | 12,183,116,035.30 | | Interest income | | | | Premiums earned | | | | Revenue from handling charges
and commission | | | | II. Total operating cost | 9,722,652,274.27 | 9,186,568,273.13 | | Including: Operating cost | 6,619,347,583.95 | 6,128,141,752.45 | | Interest expenses | | | | Handling charges and commission
expenditures | | | | Surrender value | | | | Net payment of insurance claims | | | | Net provision of insurance policy
reserve | | | | Premium bonus expenditures | | | | Reinsurance expenses | | | | Taxes and surcharges | 827,451,760.22 | 795,568,292.48 | | Selling expenses | 1,941,461,094.31 | 1,802,528,145.17 | | Administrative expenses | 367,928,294.34 | 411,196,490.46 | | R&D expenses | 13,349,414.97 | 87,077,060.83 | | Financial expenses | -46,885,873.52 | -37,943,468.26 | | Including: Interest expenses | 3,453,072.62 | 2,360,716.32 | | Interest income | 54,414,874.17 | 44,833,105.62 | | Add: Other income | 39,522,652.39 | 37,213,616.24 | | Investment income (or less: losses) | 63,128,833.64 | 65,797,874.29 | | Including: Investment income from
associates and joint ventures | 60,797,041.80 | 53,041,519.51 | | Gains from derecognition of
financial assets at amortized cost | | | | Gains on foreign exchange (or less:
losses) | | | | Gains on net exposure to hedging
risk (or less: losses) | | | | Gains on changes in fair value (or
less: losses) | 170,000.00 | | | Credit impairment loss | -4,325,186.51 | -996,135.41 | | Assets impairment loss | -37,070,931.38 | -13,810,748.07 | | Items | For the three quarters
ended September 30,
2023 | For the three quarters
ended September 30,
2022 | | Gains on asset disposal (or less:
losses) | -553,378.44 | 2,779,047.60 | | III. Operating profit (or less: losses) | 3,366,900,914.81 | 3,087,531,416.82 | | Add: Non-operating revenue | 4,504,807.87 | 1,848,624.74 | | Less: Non-operating expenditures | 2,698,594.21 | 2,332,658.71 | | IV. Profit before tax (or less: total loss) | 3,368,707,128.47 | 3,087,047,382.85 | | Less: Income tax expenses | 659,736,629.17 | 685,621,632.65 | | V. Net profit (or less: net loss) | 2,708,970,499.30 | 2,401,425,750.20 | | 1. Net profit from continuing
operations (or less: net loss) | 2,708,963,284.50 | 2,400,067,232.90 | | 2. Net profit from discontinued
operations (or less: net loss) | 7,214.80 | 1,358,517.30 | | 1. Net profit attributable to owners
of parent company (or less: net loss) | 1,344,089,296.32 | 1,182,418,780.75 | | 2. Net profit attributable to non-
controlling shareholders (or less:
net loss) | 1,364,881,202.98 | 1,219,006,969.45 | | VI. Other comprehensive income after
tax | -8,544,380.97 | -1,599,253.57 | | (I) Items attributable to the owners of
the parent company | -4,386,299.89 | -822,336.19 | | 1.Not to be reclassified subsequently to
profit or loss | 492,505.48 | 1,996,415.91 | | (1) Remeasurements of the net
defined benefit plan | | 1,574,918.99 | | (2) Items under equity method that
will not be reclassified to profit or
loss | | | | (3) Changes in fair value of other
equity instrument investments | 492,505.48 | 421,496.92 | | (4) Changes in fair value of own
credit risk | | | | 2. To be reclassified subsequently to
profit or loss | -4,878,805.37 | -2,818,752.10 | | (1) Items under equity method that
may be reclassified to profit or loss | | | | (2) Changes in fair value of other
debt investments | | | | (3) Profit or loss from
reclassification of financial assets
into other comprehensive income | | | | Items | For the three quarters
ended September 30,
2023 | For the three quarters
ended September 30,
2022 | | (4) Provision for credit impairment
of other debt investments | | | | (5) Cash flow hedging reserve | -4,878,805.37 | -2,818,752.10 | | (6) Translation reserve | | | | (7) Others | | | | (II) Items attributable to non-
controlling shareholders | -4,158,081.08 | -776,917.38 | | VII. Total comprehensive income | 2,700,426,118.33 | 2,399,826,496.63 | | (I) Items attributable to the owners
of the parent company | 1,339,702,996.43 | 1,181,596,444.56 | | (II) Items attributable to non-
controlling shareholders | 1,360,723,121.90 | 1,218,230,052.07 | | (I) Basic EPS (yuan per share) | 2.78 | 2.44 | | (II) Diluted EPS (yuan per share) | 2.78 | 2.44 |
Legal representative: Jo?o Miguel Ventura Rego Abecasis （未完）
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