StockCode:000568Stockabbreviation:LuzhouLaojiaoAnnouncementNo.2025-42
LuzhouLaojiaoCo.,Ltd.
Q32025Report
LuzhouLaojiaoCo.,Ltd.(hereinafterreferredtoasthe“Company”)andallthemembersoftheCompany’sBoardofDirectorsherebyguaranteethatthecontentsofthisReportaretrue,accurateandcompleteandfreeofanymisrepresentations,misleadingstatementsormaterialomissions.
ImportantStatements:
1.TheBoardofDirectorsaswellasdirectorsandseniormanagementguaranteethattheinformationpresentedinthisreportisfreeofanyfalserecords,misleadingstatementsormaterialomissions,andshallindividuallyandtogetherbelegallyliablefortruthfulness,accuracyandcompletenessofitscontents.
2.TheresponsiblepersonfortheCompany,theresponsiblepersonforaccountingworkandtheresponsiblepersonfortheCompany’sfinancialaffairs(AccountingSupervisor)havewarrantedthatthefinancialstatementsinthisreportaretrue,accurateandcomplete.
3.Whetherthefinancialstatementsofthisreporthavebeenauditedbyanauditor
□Yes?NoThisreporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
1.Keyfinancialinformation
1.1KeyaccountingdataandfinancialindicatorsWhethertheCompanyperformedaretroactiveadjustmenttoorrestatementofaccountingdata.
□Yes?No
| Q32025 | YoYchange | Q1-Q32025 | YoYchange | |
| Operatingrevenues(CNY) | 6,673,726,997.48 | -9.80% | 23,127,459,902.13 | -4.84% |
| NetprofitsattributabletoshareholdersoftheCompany(CNY) | 3,099,486,836.34 | -13.07% | 10,762,394,649.32 | -7.17% |
| NetprofitsattributabletoshareholdersoftheCompanybeforenon-recurringgainsandlosses(CNY) | 3,091,592,912.45 | -13.41% | 10,741,597,380.50 | -7.11% |
| Netcashflowsfromoperatingactivities(CNY) | — | — | 9,822,590,732.99 | -21.20% |
| Basicearningspershare(CNY/share) | 2.10 | -13.58% | 7.31 | -7.35% |
| Dilutedearningspershare(CNY/share) | 2.10 | -13.58% | 7.31 | -7.35% |
| WeightedaverageROE | 6.58% | -1.69% | 22.00% | -3.88% |
| September30,2025 | December31,2024 | Change | ||
| Totalassets(CNY) | 65,496,029,532.83 | 68,334,595,564.58 | -4.15% | |
| NetassetsattributabletoshareholdersoftheCompany(CNY) | 49,679,770,305.29 | 47,388,500,553.46 | 4.84% | |
1.2Non-recurringgainsandlosses
?Applicable□N/A
Unit:CNY
| Item | Q32025 | Q1-Q32025 | Note |
| Profitorlossfromdisposalofnon-currentassets(includingthewrite-offportionoftheimpairmentprovision) | -688,874.75 | -582,373.63 | |
| Governmentgrantsaccountedfor,intheprofitorlossforthecurrentperiod(exceptforthegovernmentgrantscloselyrelatedtothebusinessoftheCompanyandgiveninaccordancewithdefinedcriteriaandincompliancewithgovernmentpolicies,andhaveacontinuingimpactontheCompany'sprofitorloss) | 11,757,338.23 | 36,148,591.03 | |
| Gainorlossonfair-value | 813,589.85 | 25,554,248.49 |
| changesinfinancialassetsandliabilitiesheldbyanon-financialenterprise,aswellasondisposaloffinancialassetsandliabilities(exclusiveoftheeffectiveportionofhedgesthatisrelatedtotheCompany'snormalbusinessoperations) | |||
| Othernon-operatingincomeandexpenditureexceptabove-mentioneditems | -1,482,891.57 | -33,452,974.96 | |
| Less:Corporateincometax | 2,505,237.87 | 6,879,669.63 | |
| Minorityinterests(aftertax) | 0.00 | -9,447.52 | |
| Total | 7,893,923.89 | 20,797,268.82 | -- |
Otheritemsthatmeetthedefinitionofnon-recurringgain/loss:
?Applicable?N/ANosuchcasesforthereportingperiod.ExplainthereasonsiftheCompanyclassifiesanynon-recurringgain/lossitemmentionedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-RecurringGainsandLossesasarecurringgain/lossitem.?Applicable?N/ANosuchcasesforthereportingperiod.
1.3Changesinkeyfinancialdataandindicatorsandreasonsforthechanges?Applicable?N/AA.Theclosingbalanceofheld-for-tradingfinancialassetsdecreasedbyCNY984,561,704.91comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof58.11%.Itwasmainlyduetoadecreaseinthepurchaseofwealthmanagementproductsandtheredemptionsuponmaturityofwealthmanagementproductsinthecurrentperiod.B.TheclosingbalanceofaccountsreceivablesfinancingdecreasedbyCNY598,274,183.67comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof33.20%.Itwasmainlyduetothediscountingofnotesandthehonoringofduenotesinthecurrentperiod.C.TheclosingbalanceofprepaymentincreasedbyCNY38,677,620.33comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof31.22%.Itwasmainlyduetotheincreasedprepaymenttosuppliersforadvertising.
D.TheclosingbalanceofothercurrentassetsdecreasedbyCNY206,848,338.13comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof85.80%.Itwasmainlyduetotheoffsettinginthecurrentperiodoftheopeningamountofoverpaidtax.E.TheclosingbalanceofconstructioninprogressincreasedbyCNY545,311,852.79comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof67.55%.ItwasmainlyduetotheincreasedinvestmentsinconstructionprojectsinprogresssuchastheTechnicalUpgradeProjectofIntelligentBrewinginthecurrentperiod.F.Theclosingbalanceofothernon-currentassetsincreasedbyCNY276,536,953.01comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof67.89%.Itwasmainlyduetothepaymentforlong-termassets—theChengduInnovationandDevelopmentCenterBuilding—inthecurrentperiod.G.TheclosingbalanceoftaxespayabledecreasedbyCNY1,463,460,434.51comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof45.25%.Itwasmainlyduetothepaymentoftheopeningtaxespayableinthecurrentperiod.H.TheclosingbalanceofotherpayabledecreasedbyCNY283,921,249.39comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof32.50%.Itwasmainlyduetotheunlockingoftherestrictedshareincentiveplan,resultinginadecreaseinliabilitiesrecognizedforrepurchaseobligations.I.Theclosingbalanceofnon-currentliabilitiesduewithinoneyearincreasedbyCNY1,297,106,329.87comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof39.59%.Itwasmainlyduetothereclassificationoflong-termloansduewithinoneyear.J.Theclosingbalanceoflong-termloansdecreasedbyCNY4,060,900,000.00comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof64.67%.Itwasmainlyduetotherepaymentofloansandthereclassificationoflong-termloanstonon-currentliabilitiesduewithinoneyear.K.TheclosingbalanceoftreasurystockdecreasedbyCNY185,360,249.28comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof53.62%.Itwasmainlyduetotherelevantreversalasaresultoftheunlockingofrestrictedsharesinthecurrentperiod.L.TheclosingbalanceofothercomprehensiveincomeincreasedbyCNY39,900,966.34comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof47.37%.Itwasmainlyduetotheincreasedfairvalueofequityinvestmentsinthecurrentperiod.M.FinancialexpensesinthecurrentQ1-Q3perioddecreasedbyCNY143,083,151.84comparedtothesameperiodoflastyear.Itwasmainlyduetothedecreasedbondinterestexpensesandreclassificationofbilldiscountingexpensesinthecurrentperiod.N.OtherincomeinthecurrentQ1-Q3periodincreasedbyCNY11,484,687.14comparedtothesameperiodoflastyear,indicatinganincreaseof41.75%.Itwasmainlyduetoanincreaseingovernmentgrantsreceivedinthecurrentperiod.
O.InvestmentincomeinthecurrentQ1-Q3periodincreasedbyCNY14,636,165.05comparedtothesameperiodoflastyear,indicatinganincreaseof35.19%.ItwasmainlyduetotheincreasedearningsofinvesteeHuaxiSecurities.P.Non-operatingexpensesinthecurrentQ1-Q3periodincreasedbyCNY26,519,734.83comparedtothesameperiodoflastyear,indicatinganincreaseof123.51%.Itwasmainlyduetotheincreaseddonationexpensesinthecurrentperiod.Q.NetcashflowsfrominvestingactivitiesinthecurrentQ1-Q3periodincreasedbyCNY848,581,109.87comparedtothesameperiodoflastyear.Itwasmainlyduetoadecreaseinthepurchaseofwealthmanagementproductsinthecurrentperiod.R.NetcashflowsfromfinancingactivitiesinthecurrentQ1-Q3perioddecreasedbyCNY4,424,920,985.34comparedtothesameperiodoflastyear.Itwasmainlyduetotherepaymentofprincipalsofcorporatebondswithinterestandloans,aswellastheincreaseddividendpayoutinthecurrentperiod.
2.Shareholderinformation
2.1Totalnumbersofcommonshareholdersandpreferenceshareholderswithresumedvotingrightsaswellasshareholdingsoftop10shareholders
Unit:Share
| Totalnumberofcommonshareholdersattheendofthereportingperiod | 161,212 | Totalnumberofpreferredshareholderswithresumedvotingrightsbytheendofthereportingperiod(ifany) | 0 | |||
| Shareholdingsofthetop10shareholders(exclusiveofshareslentinrefinancing) | ||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage | Totalsharesheld | Numberofholdingrestrictedshares | Pledged,markedorfrozenshares | |
| Statusofshares | Numberofshares | |||||
| LuzhouLaojiaoGroupCo.,Ltd. | State-ownedcorporation | 26.05% | 383,433,639.00 | 0 | N/A | 0 |
| LuzhouXingLuInvestmentGroupCo.,Ltd. | State-ownedcorporation | 24.86% | 365,971,142.00 | 0 | N/A | 0 |
| BankofChinaCo.,Ltd.–BaijiuindexclassificationsecuritiesinvestmentfundbyChinaMerchantsFund | Other | 3.89% | 57,281,307.00 | 0 | N/A | 0 |
| HongKongSecuritiesClearingCompanyLimited | Outboundcorporation | 2.50% | 36,806,820.00 | 0 | N/A | 0 |
| ChinaSecuritiesFinance | Other | 2.30% | 33,842,059.00 | 0 | N/A | 0 |
| CorporationLimited | ||||||
| BankofChinaCo.,Ltd.－BluechipselectedhybridsecuritiesinvestmentfundbyEFund | Other | 1.81% | 26,600,000.00 | 0 | N/A | 0 |
| ChinaConstructionBankCorporation－PenghuaWine&LiquorExchange-TradedFund | Other | 1.37% | 20,161,129.00 | 0 | N/A | 0 |
| GuofengXinghua(Beijing)PrivateEquityFundManagementCo.,Ltd.－GuofengXinghuaHonghuzhiyuanTranche3PrivateSecuritiesInvestmentFundNo.1 | Other | 1.28% | 18,871,962.00 | 0 | N/A | 0 |
| CentralHuijinAssetManagementCo.,Ltd. | State-ownedcorporation | 0.92% | 13,539,862.00 | 0 | N/A | 0 |
| IndustrialandCommercialBankofChinaCo.,Ltd.-Huatai-PinebridgeCSI300Exchange-TradedFund | Other | 0.86% | 12,595,905.00 | 0 | N/A | 0 |
| Shareholdingsofthetop10non-restrictedshareholders(exclusiveofshareslentinrefinancingandlockedsharesofseniormanagement) | ||||||
| Nameofshareholder | Numberofnon-restrictedsharesheld | Typeofshares | ||||
| Type | Number | |||||
| LuzhouLaojiaoGroupCo.,Ltd. | 383,433,639.00 | CNYcommonshares | 383,433,639.00 | |||
| LuzhouXingLuInvestmentGroupCo.,Ltd. | 365,971,142.00 | CNYcommonshares | 365,971,142.00 | |||
| BankofChinaCo.,Ltd.–BaijiuindexclassificationsecuritiesinvestmentfundbyChinaMerchantsFund | 57,281,307.00 | CNYcommonshares | 57,281,307.00 | |||
| HongKongSecuritiesClearingCompanyLimited | 36,806,820.00 | CNYcommonshares | 36,806,820.00 | |||
| ChinaSecuritiesFinanceCorporationLimited | 33,842,059.00 | CNYcommonshares | 33,842,059.00 | |||
| BankofChinaCo.,Ltd.－BluechipselectedhybridsecuritiesinvestmentfundbyEFund | 26,600,000.00 | CNYcommonshares | 26,600,000.00 | |||
| ChinaConstructionBankCorporation－PenghuaWine&LiquorExchange-TradedFund | 20,161,129.00 | CNYcommonshares | 20,161,129.00 | |
| GuofengXinghua(Beijing)PrivateEquityFundManagementCo.,Ltd.－GuofengXinghuaHonghuzhiyuanTranche3PrivateSecuritiesInvestmentFundNo.1 | 18,871,962.00 | CNYcommonshares | 18,871,962.00 | |
| CentralHuijinAssetManagementCo.,Ltd. | 13,539,862.00 | CNYcommonshares | 13,539,862.00 | |
| IndustrialandCommercialBankofChinaCo.,Ltd.-Huatai-PinebridgeCSI300Exchange-TradedFund | 12,595,905.00 | CNYcommonshares | 12,595,905.00 | |
| Relatedpartiesoracting-in-concert | 1.LuzhouLaojiaoGroupCo.,Ltd.andLuzhouXingLuInvestmentGroupCo.,Ltd.arebothstate-ownedholdingcompaniesunderthejurisdictionofSASACofLuzhou.Thetwocompanieshavesignedtheagreementofpersonsactinginconcert.Fordetails,pleaserefertotheannouncementoftheCompanyonMay23,2024-AnnouncementontheRenewedAgreementofPersonsActinginConcertSignedbyShareholders(AnnouncementNo.2024-22).2.Duringthereportingperiod,LuzhouLaojiaoGroupCo.,Ltd.increaseditsholdingsintheCompanyby2,345,250sharesthroughcallauctiontrading.Bytheendofthereportingperiod,LuzhouLaojiaoGroupCo.,Ltd.anditswholly-ownedsubsidiarySichuanGoldenRudderInvestmentCo.,Ltd.collectivelyheld384,573,839sharesintheCompany,representing26.13%ofthetotalsharecapitaloftheCompany.3.Inaddition,whetherthereisanassociationbetweentheremainingshareholdersortheybelongtopersonsactinginconcertisunknown. | |||
| Top10shareholdersparticipatinginsecuritiesmargintrading(ifany) | None | |||
5%orgreatershareholders,top10shareholdersandTop10unrestrictedshareholdersinvolvedinrefinancingshareslending
□Applicable?N/AChangesintop10shareholdersandtop10unrestrictedshareholdersduetorefinancingshareslending/returncomparedwiththepriorperiod
□Applicable?N/A
2.2Totalnumberofpreferredshareholdersandshareholdingsofthetop10preferredshareholders
□Applicable?N/A
3.Othersignificantevents
?Applicable□N/AA.Progressontherestrictedshareincentiveplan
a.OnJanuary21,2025,theCompanyheldtheEighthMeetingofthe11thBoardofDirectorsandtheSixthMeetingofthe11thBoardofSupervisors,atwhichtheProposalontheSatisfactionofUnlockingConditionsfortheFirstUnlockingPeriodoftheReservedRestrictedSharesunderthe2021RestrictedShareIncentivePlanandtheProposalontheSatisfactionofUnlockingConditionsfortheSecondUnlockingPeriodofthe2021RestrictedShareIncentivePlanwerereviewedandapprovedrespectively.b.OnFebruary14,2025,theCompanydisclosedtheReminderAnnouncementonUnlockedSharesintheFirstUnlockingPeriodoftheReservedRestrictedSharesunderthe2021RestrictedShareIncentivePlanBeingAllowedforPublicTrading.Assuch,theunlockedrestrictedsharesinthefirstunlockingperiodofthereservedrestrictedsharesunderthe2021RestrictedShareIncentivePlanwereallowedforpublictradingonFebruary17,2025.c.OnFebruary21,2025,theCompanydisclosedtheReminderAnnouncementonUnlockedSharesintheSecondUnlockingPeriodofthe2021RestrictedShareIncentivePlanBeingAllowedforPublicTrading.Assuch,theunlockedrestrictedsharesinthesecondunlockingperiodofthe2021RestrictedShareIncentivePlanwereallowedforpublictradingonFebruary24,2025.d.OnSeptember16,2025,theCompanyheldthe15thMeetingofthe11thBoardofDirectors,atwhichtheProposalontheSatisfactionofUnlockingConditionsfortheSecondUnlockingPeriodoftheReservedRestrictedSharesunderthe2021RestrictedShareIncentivePlanandtheProposalontheRepurchaseandRetirementofCertainRestrictedSharesandtheAdjustmentofRepurchasePricewerereviewedandapprovedrespectively.e.OnSeptember26,2025,theCompanydisclosedtheReminderAnnouncementonUnlockedSharesintheSecondUnlockingPeriodoftheReservedRestrictedSharesunderthe2021RestrictedShareIncentivePlanBeingAllowedforPublicTrading.Assuch,theunlockedrestrictedsharesinthesecondunlockingperiodofthereservedrestrictedsharesunderthe2021RestrictedShareIncentivePlanwereallowedforpublictradingonSeptember29,2025.B.TheCompanyinvestedinthetechnicalupgradeprogramofintelligentbrewing(PhaseI)withthewholly-ownedsubsidiary,LuzhouLaojiaoBrewingCo.,Ltd.,astheimplementer.ThetotalinvestmentamountapproximatedCNY4,782.5090million.Forfurtherinformation,seeAnnouncementNo.2022-24ontheImplementationofLuzhouLaojiao’sTechnicalUpgradeProgramofIntelligentBrewing(PhaseI)bySubsidiary.Theprogramiscurrentlyunderconstruction.
4.Financialstatements
4.1Financialstatements
4.1.1Consolidatedbalancesheet
Preparedby:LuzhouLaojiaoCo.,Ltd.
September30,2025
Unit:CNY
| Item | September30,2025 | December31,2024 |
| Currentassets: | ||
| Cashandcashequivalents | 31,744,503,028.23 | 33,578,396,831.33 |
| Settlementreserves | ||
| Lendingfunds | ||
| Held-for-tradingfinancialassets | 709,720,591.06 | 1,694,282,295.97 |
| Derivativefinancialassets | ||
| Notesreceivables | ||
| Accountsreceivables | 11,026,848.84 | 11,022,302.31 |
| Accountsreceivablesfinancing | 1,203,673,272.11 | 1,801,947,455.78 |
| Prepayment | 162,547,902.98 | 123,870,282.65 |
| Premiumsreceivable | ||
| Reinsuranceaccountsreceivable | ||
| Reinsurancecontractreserve | ||
| Otherreceivables | 8,895,090.59 | 13,053,645.00 |
| Including：Interestsreceivable | ||
| Dividendsreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 13,747,352,903.12 | 13,392,794,475.96 |
| Including:Dataresource | ||
| Contractassets | ||
| Assetsheldforsale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 34,233,570.76 | 241,081,908.89 |
| Totalcurrentassets | 47,621,953,207.69 | 50,856,449,197.89 |
| Non-currentassets: | ||
| Disbursementofloansandadvances | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 2,888,775,482.32 | 2,801,252,317.93 |
| Investmentsinotherequityinstruments | 458,822,485.00 | 407,194,706.55 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 48,481,236.85 | 50,246,694.16 |
| Fixedassets | 8,664,421,347.95 | 9,131,776,915.51 |
| Constructioninprogress | 1,352,545,841.69 | 807,233,988.90 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Userightassets | 22,160,046.10 | 29,254,214.23 |
| Intangibleassets | 3,427,367,009.53 | 3,417,898,796.19 |
| Including:Dataresource | ||
| Developmentexpenses | ||
| Including:Dataresource | ||
| Goodwill | ||
| Long-termdeferredexpenses | 1,141,342.75 | 1,756,272.03 |
| Deferredtaxassets | 326,477,211.79 | 424,185,093.04 |
| Othernon-currentassets | 683,884,321.16 | 407,347,368.15 |
| Totalnon-currentassets | 17,874,076,325.14 | 17,478,146,366.69 |
| Totalassets | 65,496,029,532.83 | 68,334,595,564.58 |
| Currentliabilities: | ||
| Short-termloans | ||
| Borrowingsfromthecentralbank | ||
| Loansfromotherbanks | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 1,391,991,485.85 | 1,844,497,206.78 |
| Advancefromcustomer | 3,889,942.66 | |
| Contractliabilities | 3,838,045,781.84 | 3,978,131,528.88 |
| Financialassetssoldforrepurchase |
| Depositsfromcustomersandinter-bank | ||
| Customerbrokeragedeposits | ||
| Securitiesunderwritingbrokeragedeposits | ||
| Employeebenefitspayable | 535,592,774.86 | 553,580,768.99 |
| Taxespayable | 1,770,488,162.57 | 3,233,948,597.08 |
| Otherpayable | 589,674,179.69 | 873,595,429.08 |
| Including：Interestspayable | ||
| Dividendspayable | 29,668,290.20 | |
| Handlingchargesandcommissionspayable | ||
| Reinsuranceaccountspayable | ||
| Liabilitiesheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 4,573,734,946.61 | 3,276,628,616.74 |
| Othercurrentliabilities | 498,945,272.36 | 516,729,820.48 |
| Totalcurrentliabilities | 13,202,362,546.44 | 14,277,111,968.03 |
| Non-currentliabilities: | ||
| Insurancecontractreserves | ||
| Long-termloans | 2,219,000,000.00 | 6,279,900,000.00 |
| Bondspayable | ||
| Including：Preferenceshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 19,753,715.91 | 24,528,519.13 |
| Long-termpayables | ||
| Long-termpayrollpayables | ||
| Accruedliabilities | ||
| Deferredincome | 79,415,062.89 | 86,672,726.83 |
| Deferredtaxliabilities | 150,492,718.03 | 158,375,714.88 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 2,468,661,496.83 | 6,549,476,960.84 |
| Totalliabilities | 15,671,024,043.27 | 20,826,588,928.87 |
| Owners'equity | ||
| Sharecapital | 1,471,951,503.00 | 1,471,951,503.00 |
| Otherequityinstruments | ||
| Including:preferenceshares | ||
| Perpetualbonds | ||
| Capitalreserves | 5,427,488,106.77 | 5,365,763,566.55 |
| Less:treasurystock | 160,339,194.61 | 345,699,443.89 |
| Othercomprehensiveincome | 124,136,081.72 | 84,235,115.38 |
| Specialreserves | ||
| Surplusreserves | 1,471,951,503.00 | 1,471,951,503.00 |
| Generalriskreserve | ||
| Undistributedprofits | 41,344,582,305.41 | 39,340,298,309.42 |
| Totalequityattributabletoownersoftheparentcompany | 49,679,770,305.29 | 47,388,500,553.46 |
| Non-controllinginterests | 145,235,184.27 | 119,506,082.25 |
| Totalowners'equity | 49,825,005,489.56 | 47,508,006,635.71 |
| Totalliabilitiesandowners'equity | 65,496,029,532.83 | 68,334,595,564.58 |
Legalrepresentative:LiuMiaoPersoninchargeofaccountingaffairs:XieHongPersoninchargeofaccountingdepartment:SongYing
4.1.2ConsolidatedincomestatementforQ1-Q3
Unit:CNY
| Item | Q1-Q32025 | Q1-Q32024 |
| 1.Totaloperatingrevenue | 23,127,459,902.13 | 24,303,555,187.30 |
| Including:Operatingrevenue | 23,127,459,902.13 | 24,303,555,187.30 |
| Interestincome | ||
| Earnedpremium | ||
| Feeandcommissionincome | ||
| 2.Totaloperatingcosts | 8,624,016,188.94 | 8,716,343,501.20 |
| Including:Costofsales | 2,980,340,788.02 | 2,810,818,847.64 |
| Interestexpense | ||
| Handlingchargesandcommissionexpenses | ||
| Refundedpremiums | ||
| Netpaymentsforinsuranceclaims | ||
| Netprovisionforinsurancecontracts | ||
| Bondinsuranceexpense | ||
| ReinsuranceExpenses | ||
| Taxesandsurcharges | 2,800,294,797.90 | 2,738,129,445.18 |
| Sellinganddistributionexpenses | 2,419,363,363.64 | 2,500,180,332.27 |
| Generalandadministrativeexpenses | 681,884,971.89 | 766,584,464.15 |
| ResearchandDevelopmentexpenses | 127,236,495.49 | 142,651,488.12 |
| Financialexpenses | -385,104,228.00 | -242,021,076.16 |
| Including：Interestexpenses | 125,045,963.68 | 368,223,585.86 |
| Interestincome | 517,472,242.09 | 619,035,153.33 |
| Plus:Otherincome | 38,992,675.48 | 27,507,988.34 |
| Investmentincome("-"forlosses) | 56,225,968.29 | 41,589,803.24 |
| Including:incomefrominvestmentinassociatesandjointventures | 110,153,845.03 | 40,700,111.73 |
| Incomefromthederecognitionoffinancialassetsmeasuredatamortizedcost | ||
| Foreignexchangegains("-"forlosses) | ||
| Netgainonexposurehedges(“-”forlosses) | ||
| Gainsfromthechangesinfairvalues(“-“forlosses) | 22,725,744.18 | 30,347,487.27 |
| Creditimpairmentlosses(“-”forlosses) | 212,642.32 | 1,214,862.78 |
| Impairmentlosses(“-“forlosses) | ||
| Gainsfromdisposalofassets("-"forlosses) | -582,373.63 | 1,058,796.90 |
| 3.Operatingprofits("-"forlosses) | 14,621,018,369.83 | 15,688,930,624.63 |
| Plus:non-operatingincome | 14,538,207.24 | 12,737,373.78 |
| Less:non-operatingexpenses | 47,991,182.20 | 21,471,447.37 |
| 4.Totalprofitsbeforetax("-"fortotallosses) | 14,587,565,394.87 | 15,680,196,551.04 |
| Less:incometaxexpenses | 3,792,874,776.92 | 4,072,760,301.97 |
| 5.Netprofit("-"fornetloss) | 10,794,690,617.95 | 11,607,436,249.07 |
| 5.1Byoperatingcontinuity | ||
| 5.1.1Netprofitfromcontinuingoperation("-"forlosses) | 10,794,690,617.95 | 11,607,436,249.07 |
| 5.1.2Netprofitfromdiscontinuedoperation("-"forlosses) | ||
| 5.2Byownership | ||
| 1)Attributabletoshareholdersoftheparentcompany("-"forlosses) | 10,762,394,649.32 | 11,593,041,150.05 |
| 2)Attributabletonon-controllinginterests("-"forlosses) | 32,295,968.63 | 14,395,099.02 |
| 6.Netoftaxfromothercomprehensiveincome | 39,344,460.12 | -10,901,548.12 |
| Netoftaxfromothercomprehensiveincometotheowneroftheparentcompany | 39,901,755.85 | -10,696,523.43 |
| 6.1Othercomprehensiveincomecannotbereclassifiedintotheprofitandloss: | 39,226,482.98 | -16,573,138.80 |
| 1)Remeasurethevariationofnetindebtednessornetassetofdefinedbenefitplans | ||
| 2)Shareinothercomprehensiveincomethatcannotbeclassifiedintoprofitandlossunderequitymethod | 505,649.11 | -98,594.78 |
| 3)Changesinfairvalueofinvestmentsinotherequityinstruments | 38,720,833.87 | -16,474,544.02 |
| 4)Changesinfairvalueofthecompany’screditrisks | ||
| 5)Other | ||
| 6.2Othercomprehensiveincomethatwillbereclassifiedintotheprofitandloss | 675,272.87 | 5,876,615.37 |
| 1)Shareinothercomprehensiveincomethatwillbeclassifiedintoprofitandlossunderequitymethod | 1,356,156.40 | 6,125,748.26 |
| 2)Changesinfairvalueofinvestmentsinotherdebtobligations | ||
| 3)Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 4)Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 5)Reserveforcash-flowhedge | ||
| 6)Balancearisingfromthetranslationofforeigncurrencyfinancialstatements | -680,883.53 | -249,132.89 |
| 7)Others | ||
| Netoftaxfromothercomprehensiveincometonon-controllinginterests | -557,295.73 | -205,024.69 |
| 7.Totalcomprehensiveincome | 10,834,035,078.07 | 11,596,534,700.95 |
| (1)Totalcomprehensiveincomeattributabletoownersoftheparentcompany | 10,802,296,405.17 | 11,582,344,626.62 |
| (2)Totalcomprehensiveincomeattributabletonon-controllinginterests | 31,738,672.90 | 14,190,074.33 |
| 8.Earningspershare | ||
| (1)Basicearningspershare | 7.31 | 7.89 |
| (2)Dilutedearningspershare | 7.31 | 7.89 |
Legalrepresentative:LiuMiaoPersoninchargeofaccountingaffairs:XieHongPersoninchargeofaccountingdepartment:SongYing
4.1.3ConsolidatedstatementofcashflowsforQ1-Q3
Unit:CNY
| Item | Q1-Q32025 | Q1-Q32024 |
| 1.Cashflowsfromoperatingactivities | ||
| Cashreceivedfromsaleofgoodsandrenderingofservices | 25,912,836,641.79 | 28,268,692,121.75 |
| Netincreaseincustomerbankdepositsandplacementfrombanksandotherfinancialinstitutions | ||
| Netincreaseinloansfromcentralbank | ||
| Netincreaseinloansfromotherfinancialinstitutions | ||
| Premiumsreceivedfromoriginalinsurancecontracts | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseindepositsandinvestmentsfrompolicyholders | ||
| Cashreceivedfrominterest,handlingchargesandcommissions | ||
| Netincreaseinplacementsfromotherfinancialinstitutions | ||
| Netcapitalincreaseinrepurchasebusiness | ||
| Netcashreceivedfromcustomerbrokeragedeposits | ||
| Refundsoftaxesandsurcharges | 8,154,186.38 | 2,958,263.90 |
| Cashreceivedfromotheroperatingactivities | 569,081,529.79 | 667,232,830.17 |
| Subtotalofcashinflowsfromoperatingactivities | 26,490,072,357.96 | 28,938,883,215.82 |
| Cashpaidforgoodspurchasedandservicesreceived | 3,507,338,498.19 | 3,371,913,988.23 |
| Netincreaseinloansandadvancestocustomers | ||
| Netincreaseindepositsincentralbankandotherbanksandfinancialinstitutions | ||
| Cashpaidfororiginalinsurancecontractclaims | ||
| Netincreaseinlendingfunds | ||
| Cashpaidforinterests,handlingchargesandcommissions | ||
| Cashpaidforpolicydividends | ||
| Cashpaidtoandonbehalfofemployees | 1,076,420,883.26 | 1,064,925,092.78 |
| Cashpaidfortaxesandsurcharges | 9,958,294,094.47 | 9,726,003,677.88 |
| Cashpaidforotheroperatingactivities | 2,125,428,149.05 | 2,311,325,660.82 |
| Subtotalofcashoutflowsfromoperatingactivities | 16,667,481,624.97 | 16,474,168,419.71 |
| Netcashflowsfromoperatingactivities | 9,822,590,732.99 | 12,464,714,796.11 |
| 2.Cashflowsfrominvestingactivities | ||
| Cashreceivedfromdisposalofinvestments | 2,220,115,953.40 | 2,090,367,314.89 |
| Cashreceivedfromreturnsoninvestments | 35,899,436.04 | 42,401,007.15 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | 534,068.91 | 11,432,852.36 |
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Cashreceivedfromotherinvestingactivities | ||
| Subtotalofcashinflowsfrominvestingactivities | 2,256,549,458.35 | 2,144,201,174.40 |
| Cashpaidtoacquireandconstructfixedassets,intangibleassetsandotherlong-termassets | 1,137,163,772.20 | 611,683,806.45 |
| Cashpaidforinvestments | 1,210,000,000.00 | 2,471,700,000.00 |
| Netincreaseinpledgeloans | ||
| Netcashpaidtoacquiresubsidiariesandotherbusinessunits | ||
| Cashpaidforotherinvestingactivities | 12,791.67 | |
| Subtotalofcashoutflowsfrominvestingactivities | 2,347,163,772.20 | 3,083,396,598.12 |
| Netcashflowsfrominvestingactivities | -90,614,313.85 | -939,195,423.72 |
| 3.Cashflowsfromfinancingactivities | ||
| Cashreceivedfrominvestors | 79,496.11 | |
| Including:cashreceivedbysubsidiariesfrominvestmentsbyminorityshareholders | 79,496.11 | |
| Cashreceivedfromborrowings | 2,000,000,000.00 | |
| Cashreceivedfromotherfinancingactivities | ||
| Subtotalofcashinflowsfromfinancingactivities | 2,000,079,496.11 | |
| Cashpaidfordebtrepayments | 2,720,200,000.00 | 1,020,600,000.00 |
| Cashpaidfordistributionofdividendsandprofitsorpaymentofinterest | 8,965,980,678.14 | 8,229,507,984.85 |
| Including:dividendsandprofitspaidtominorityshareholdersbysubsidiaries | 36,240,666.20 | 29,684,819.82 |
| Cashpaidforotherfinancingactivities | 4,831,586.10 | 16,062,790.16 |
| Subtotalofcashoutflowsfromfinancingactivities | 11,691,012,264.24 | 9,266,170,775.01 |
| Netcashflowsfromfinancingactivities | -11,691,012,264.24 | -7,266,091,278.90 |
| 4.Effectoffluctuationinexchangerateoncashandcashequivalents | -5,048,523.60 | -4,009,184.32 |
| 5.Netincreaseincashandcashequivalents | -1,964,084,368.70 | 4,255,418,909.17 |
| Plus:balanceofcashandcashequivalentsatthebeginningoftheperiod | 33,367,668,014.46 | 25,893,029,277.86 |
| 6.Balanceofcashandcashequivalentsattheendoftheperiod | 31,403,583,645.76 | 30,148,448,187.03 |
4.2AdjustmentstoFinancialStatementItemsattheBeginningoftheYearoftheFirstImplementationoftheNewAccountingStandardsImplementedsince2025
□Applicable?N/A
4.3Auditor’sreportWhetherthefinancialstatementsofthisreporthavebeenauditedbyanauditor
□Yes?NoThesaidfinancialstatementsareunauditedbyanauditor.
TheBoardofDirectorsofLuzhouLaojiaoCo.,Ltd.
October31,2025