张裕Ｂ(200869):2023年年度财务报告（英文版）

时间：2024年04月11日 19:40:52 中财网

原标题:张裕Ｂ:2023年年度财务报告（英文版）

YANTAI CHANGYU PIONEER WINE COMPANY LIMITED

ENGLISH TRANSLATION OF FINANCIAL STATEMENTS
FOR THE YEAR 1 JANUARY 2023 TO 31 DECEMBER 2023
IF THERE IS ANY CONFLICT BETWEEN THE CHINESE VERSION AND ITS ENGLISH TRANSLATION, THE CHINESE VERSION WILL PREVAIL

AUDITOR’S REPORT

KPMG Huazhen Shen Zi No. 2405429

All Shareholders of Yantai Changyu Pioneer Wine Company Limited:
Opinion

We have audited the accompanying financial statements of Yantai Changyu Pioneer Wine Company Limited (“Yantai Changyu”), which comprise the consolidated balance sheet and company balance sheet as at 31 December 2023, the consolidated income statement and company income statement, the consolidated cash flow statement and company cash flow statement, the consolidated statement of changes in shareholders’ equity and company statement of changes in shareholders’ equity for the year then ended, and notes to the financial statements.

In our opinion, the accompanying financial statements present fairly, in all material respects, the consolidated financial position and company financial position of Yantai Changyu as at 31 December 2023, and of its consolidated financial performance and company financial performance and its consolidated cash flows and company cash flows for the year then ended in accordance with Accounting Standards for Business Enterprises issued by the Ministry of Finance of the People’s Republic of China.

Basis for Opinion

We conducted our audit in accordance with China Standards on Auditing for Certified Public Accountants (“CSAs”). Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of Yantai Changyu in accordance with the China Code of Ethics for Certified Public Accountants (“the Code”), and we have fulfilled our other ethical responsibilities in accordance with the Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

AUDITOR’S REPORT (continued)

KPMG Huazhen Shen Zi No. 2405429

Key Audit Matters

Key audit matters are those matters that, in our professional judgement, were of most significance in our audit of the financial statements for the year. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Recognition of Sales Revenue from Distributors
Refer to the accounting policies set out in the notes to the financial statements “III. Significant accounting policies and accounting estimates” 25 and “V. Notes to the consolidated financial statements” 38.
The Key Audit Matters	How the Matter was Addressed in Our Audit
The principal activities of Yantai Changyu and its subsidiaries (hereinafter referred to as “Yantai Changyu Group”) include manufacture and sales of wine, brandy and sparkling wine. The revenue of Yantai Changyu Group is mainly derived from sales of distributors. All distributor transaction terms adopt the unified transaction terms formulated by Yantai Changyu Group. Based on the contractual agreement and the business arrangement, Yantai Changyu sells products to distributors and the transfer of product ownership is completed and the revenue is recognised when the goods are delivered to distributors and signed for acceptance. As revenue is one of the key performance indicators of Yantai Changyu Group, there is a risk that management may recognise revenue earlier or later in order to meet specific performance targets or expectations, therefore, the risk of cut-off misstatement arising from distributors’ sales revenue is identified as a key audit matter.	Our audit procedures to evaluate revenue recognition of sales revenue from distributors included the following: ? Understand and evaluate the Management’s design and operation effectiveness of key internal controls related to distributor sales revenue recognition; ? Selecting the sales contracts Yantai Changyu signed with distributors in order to examine whether Yantai Changyu has adopted the unified transaction terms, and evaluate whether the accounting policy of revenue recognition meets the requirements of the Accounting Standards for Business Enterprises; ? On a sampling basis, reconcile the revenue recorded for the year to relevant supporting files such as relevant orders and signed delivery notes, etc. to evaluate whether revenue is recognised in accordance with the accounting policy of Yantai Changyu;

AUDITOR’S REPORT (continued)

KPMG Huazhen Shen Zi No. 2405429

Key Audit Matters (continued)

Recognition of Sales Revenue from Distributors (continued)
Refer to the accounting policies set out in the notes to the financial statements “III. Significant accounting policies and accounting estimates” 25 and “V. Notes to the consolidated financial statements” 38.
The Key Audit Matters	How the Matter was Addressed in Our Audit
	? On a sampling basis, reconcile the sales transaction before and after balance sheet date to relevant supporting files such as relevant orders, signed delivery notes, etc. to evaluate whether revenue is recognised in appropriate accounting period; ? Check the sales record after the balance sheet date to identify significant sales returns and check relevant supporting files (If applicable) in order to evaluate whether relevant revenue is recorded in the appropriate accounting period; ? Select revenue accounting entries that meet specific risk criteria and check related supporting documents.

AUDITOR’S REPORT (continued)

KPMG Huazhen Shen Zi No. 2405429

Other Information

Management of Yantai Changyu is responsible for the other information. The other information comprises all the information included in the 2023 annual report, other than the financial statements and our auditor’s report thereon.

Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.

If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this
regard.

Responsibilities of Management and Those Charged with Governance for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with the Accounting Standards for Business Enterprises, and for the design, implementation and maintenance of such internal control necessary to enable that the financial statements are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is responsible for assessing Yantai Changyu’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate Yantai Changyu or to cease operations, or has no realistic alternative but to do so.

Those charged with governance are responsible for overseeing Yantai Changyu’s financial reporting process.

Auditor’s Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with CSAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

AUDITOR’S REPORT (continued)

KPMG Huazhen Shen Zi No. 2405429

Auditor’s Responsibilities for the Audit of the Financial Statements (continued)
As part of an audit in accordance with CSAs, we exercise professional judgement and maintain professional scepticism throughout the audit. We also:
(1) Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
(2) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances.

(3) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management.
(4) Conclude on the appropriateness of management’s use of the going concern basis of accounting and, basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on Yantai Changyu’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause Yantai Changyu to cease to continue as a going concern.
(5) Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
(6) Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express our audit opinion on the financial statements. We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion.

AUDITOR’S REPORT (continued)

KPMG Huazhen Shen Zi No. 2405429

Auditor’s Responsibilities for the Audit of the Financial Statements (continued)
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence and, where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the year and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

KPMG Huazhen LLP Certified Public Accountants Registered
(Stamp) in the People’s Republic of China

Wang Ting (Engagement Partner)
(Signature and stamp)

Beijing, China Jiang Hui
(Signature and stamp)

Date: 10 April 2024

Yantai Changyu Pioneer Wine Company Limited
Consolidated balance sheet
as at 31 December 2023
(Expressed in Renminbi Yuan)

Note	31 December 2023


V.1	2,217,693,647
V.2	1,260,000
V.3	382,132,334
V.4	408,316,028
V.5	61,497,933
V.6	71,496,276
V.7	2,765,390,587
V.8	88,368,542
	5,996,155,347

V.9	38,285,620
V.10	24,482,831
V.11	5,795,082,569
V.12	3,323,241
V.13	177,461,983
V.14	121,745,910
V.15	542,625,776
V.16	107,163,616
V.17	306,662,107
V.18	221,518,204
V.19	1,760,000
	7,340,111,857
	13,336,267,204

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Consolidated balance sheet
as at 31 December 2023 (continued)
(Expressed in Renminbi Yuan)

Note	31 December 2023


V.20	364,981,445
V.21	473,352,525
V.22	175,278,849
V.23	185,331,292
V.24	274,723,431
V.25	555,634,336
V.26	44,958,297
V.27	78,523,993
	2,152,784,168

V.28	66,616,443
V.29	85,038,335
V.30	-
V.31	32,582,734
V.18	8,719,729
	192,957,241
	2,345,741,409

Note	31 December 2023


V.32	692,249,559
V.33	651,086,707
V.34	103,411,919
V.35	(14,784,677)
V.36	342,732,000
V.37	9,273,629,318
	10,841,500,988
	149,024,807
	10,990,525,795
	13,336,267,204

These financial statements were approved by the Board of Directors of the Company on 10 April 2024. .

Zhou Hongjiang Jiang Jianxun Guo Cuimei (Company stamp)
Legal Representative The person in charge The head of the
of accounting affairs accounting department
(Signature and stamp) (Signature and stamp) (Signature and stamp)

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Company balance sheet
as at 31 December 2023
(Expressed in Renminbi Yuan)

Note	31 December 2023


	1,242,484,544
	5,189,894
XVII.1	36,322,019
	52,587
XVII.2	576,949,997
	323,465,919
	147,187
	2,184,612,147

XVII.3	7,648,498,638
	24,482,831
	194,601,612
	264,175
	100,785,279
	37,025,896
	72,552,201
	2,327,585
	1,934,430,000
	10,014,968,217
	12,199,580,364

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Company balance sheet
as at 31 December 2023 (continued)
(Expressed in Renminbi Yuan)

Note	31 December 2023


	100,000,000
	63,686,113
	68,654,350
	6,439,899
	608,904,995
	3,803,910
	851,489,267

	42,380,074
	55,718
	42,435,792
	893,925,059

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Company balance sheet
as at 31 December 2023 (continued)
(Expressed in Renminbi Yuan)

Note	31 December 2023


	692,249,559
	687,544,350
	103,411,919
	342,732,000
	9,686,541,315
	11,305,655,305
	12,199,580,364

These financial statements were approved by the Board of Directors of the Company on 10 April 2024. .

Zhou Hongjiang Jiang Jianxun Guo Cuimei (Company stamp)
Legal Representative The person in charge The head of the
of accounting affairs accounting department
(Signature and stamp) (Signature and stamp) (Signature and stamp)

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Consolidated income statement
for the year ended 31 December 2023
(Expressed in Renminbi Yuan)

Note	2023
V.38	4,384,764,335
V.38	1,786,983,657
V.39	349,735,571
V.40	1,239,782,776
V.41	303,990,858
	17,413,534
V.42	11,083,459
	35,800,097
	30,571,465
V.43	51,523,799
V.44	23,847,450
	(712,480)
V.45	1,397,658
V.46	(13,506,958)
V.47	(134,133)

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Consolidated income statement
for the year ended 31 December 2023 (continued)
(Expressed in Renminbi Yuan)

Note	2023
	738,902,296
V.48	11,992,270
V.48	3,428,410
	747,466,156
V.49	221,433,447
	526,032,709

	526,032,709
	-

	532,438,907
	(6,406,198)
	9,519,495
	8,975,561
	8,975,561
	543,934

Note	2023
	535,552,204
	541,414,468
	(5,862,264)

V.50	0.78
V.50	0.78

These financial statements were approved by the Board of Directors of the Company on 10 April 2024. .

Zhou Hongjiang Jiang Jianxun Guo Cuimei (Company stamp)
Legal Representative The person in charge The head of the
of accounting affairs accounting department
(Signature and stamp) (Signature and stamp) (Signature and stamp)

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Company income statement
for the year ended 31 December 2023
(Expressed in Renminbi Yuan)

Note	2023
XVII.4	731,158,954
XVII.4	621,636,564
	26,163,038
	60,054,424
	1,127,242
	(2,756,864)
	3,184,460
	10,213,608
	3,219,830
XVII.5	439,250,529
	(42,274,055)
	-
	425,130,854
	386,193
	1,258,048

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Company income statement
for the year ended 31 December 2023 (continued)
(Expressed in Renminbi Yuan)

Note	2023
	424,258,999
	12,118,898
	412,140,101
	412,140,101
	-
	-
	412,140,101

These financial statements were approved by the Board of Directors of the Company on 10 April 2024. .

Zhou Hongjiang Jiang Jianxun Guo Cuimei (Company stamp)
Legal Representative The person in charge The head of the
of accounting affairs accounting department
(Signature and stamp) (Signature and stamp) (Signature and stamp)

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Consolidated cash flow statement
for the year ended 31 December 2023
(Expressed in Renminbi Yuan)

Note	2023

	4,362,027,268
	37,827,698
V.51(1)	219,385,622
	4,619,240,588
	1,368,282,215
	491,419,621
	910,748,260
V.51(1)	675,698,749
	3,446,148,845
V.52(1)	1,173,091,743

	238,200,000
	3,196,066
	10,529,793
V.52(2)	20,308,625
V.52(2)	657,049
	272,891,533
	132,032,219
	464,200,000
	596,232,219
	(323,340,686)

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Consolidated cash flow statement
for the year ended 31 December 2023 (continued)
(Expressed in Renminbi Yuan)

Note	2023

	103,411,919
	573,859,507
	677,271,426
	768,253,239
	341,454,132
V.51(3)	67,229,123
	1,176,936,494
	(499,665,068)
	316,163
V.52(1)	350,402,152
	1,612,753,600
V.52(2)	1,963,155,752

These financial statements were approved by the Board of Directors of the Company on 10 April 2024. .

Zhou Hongjiang Jiang Jianxun Guo Cuimei (Company stamp)
Legal Representative The person in charge The head of the
of accounting affairs accounting department
(Signature and stamp) (Signature and stamp) (Signature and stamp)

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Company cash flow statement
for the year ended 31 December 2023
(Expressed in Renminbi Yuan)

Note	2023

	673,455,798
	-
	12,473,241
	685,929,039
	611,290,566
	60,646,447
	62,523,754
	28,861,990
	763,322,757
	(77,393,718)

	262,833,449
	729,828,424
	576,150
	17,965,519
	10,000,000
	1,021,203,542
	7,116,731
	478,823,400
	5,537,700
	94,230,000
	585,707,831
	435,495,711

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Company cash flow statement
for the year ended 31 December 2023 (continued)
(Expressed in Renminbi Yuan)

Note	2023

	103,411,919
	100,000,000
	203,411,919
	100,000,000
	311,643,260
	4,956,105
	416,599,365
	(213,187,446)
	-
	144,914,547
	843,369,997
	988,284,544

These financial statements were approved by the Board of Directors of the Company on 10 April 2024. .

Zhou Hongjiang Jiang Jianxun Guo Cuimei (Company stamp)
Legal Representative The person in charge The head of the
of accounting affairs accounting department
(Signature and stamp) (Signature and stamp) (Signature and stamp)

The notes on pages 20 to 117 form part of these financial statements. Yantai Changyu Pioneer Wine Company Limited
Consolidated statement of changes in shareholders’ equity
for the year ended 31 December 2023
(Expressed in Renminbi Yuan)

Note	Attributable to shareholders of the Company							Non-controlling interests
	Share capital	Capital reserve	Less:Treasury- Stock	Other comprehensive income	Surplus reserve	Retained earnings	Sub-total
	685,464,000	524,968,760	-	(23,760,238)	342,732,000	9,049,649,211	10,579,053,733	246,526,561

	-	-	-	8,975,561	-	532,438,907	541,414,468	(5,862,264)

V.32	6,785,559	127,362,115	(103,411,919)	-	-	-	30,735,755	-
VIII.2	-	(1,244,168)	-	-	-	-	(1,244,168)	(31,502,609)

V.37	-	-	-	-	-	(308,458,800)	(308,458,800)	(1,538,316)

	-	-	-	-	-	-	-	(58,598,565)
	692,249,559	651,086,707	(103,411,919)	(14,784,677)	342,732,000	9,273,629,318	10,841,500,988	149,024,807

These financial statements were approved by the Board of Directors of the Company on 10 April 2024. .

（未完）

张 裕Ｂ(200869):2023年年度财务报告（英文版）

张裕Ｂ(200869):2023年年度财务报告（英文版）