2016-04-25-深交所-古井贡Ｂ_2015年年度报告（英文版）_152页_2mb

ANHUI GUJING DISTILLERY COMPANY LIMITED 2015 ANNUAL REPORT SUMMARY

Core Content Overview

Anhui Gujing Distillery Company Limited (hereinafter referred to as the "Company") issued its 2015 Annual Report in April 2016. The report includes important statements, corporate profile, financial results, business profile, management discussion and analysis, and other detailed sections.

Main Points

Important Statements

• The Board of Directors, Supervisory Committee, directors, supervisors, and senior management guarantee the accuracy and completeness of the report.
• All directors attended the board meeting for review.
• The preliminary profit distribution plan was approved: a cash dividend of RMB2.00 per 10 shares.
• No bonus shares or capital reserves were converted into share capital.
• The report contains forward-looking statements, but these are not considered promises to investors.

Corporate Profile and Financial Results

• Stock Details: Gujing Distillery (000596, 200596) listed on Shenzhen Stock Exchange.
• Company Name: Anhui Gujing Distillery Company Limited (English) / 安徽古井贡酒股份有限公司 (Chinese).
• Key Financial Figures (2015):
  • Operating Revenues: RMB5,253,411,479.40 (up 12.96% YoY)
  • Net Profit Attributable to Shareholders: RMB715,578,369.68 (up 19.85% YoY)
  • Net Profit After Exceptional Profit/Loss: RMB682,760,794.86 (up 20.13% YoY)
  • Net Operating Cash Flow: RMB790,109,535.01 (up 103.90% YoY)
  • EPS: RMB1.42/share (up 19.33% YoY)
• Total Assets and Net Assets (2015):
  • Total Assets: RMB7,183,147,641.13 (up 12.00% YoY)
  • Net Assets Attributable to Shareholders: RMB4,833,721,630.08 (up 15.61% YoY)

Business Profile

• The Company is mainly engaged in the production and sale of distilled spirits, packaging materials, and the deep processing of agricultural products.
• The brand "Gujing Distillery" achieved a value exceeding RMB37.555 billion, ranking among the Top 500 Asian Brands, the Hurun Top 200 Brands 2015, and the BrandZ Top 100 Chinese Brands in Value.
• The distilled spirits industry entered a new normal state with medium-and-slow-speed development.
• The Company's core competitiveness remained stable throughout the reporting period.

Management Discussion and Analysis

• Overview: Despite economic challenges, the Company achieved significant growth in operating revenues, net profit, and net operating cash flow.
• Key Strategies:
  • Innovated marketing patterns, launching the "Gujing 5.0" era with new initiatives like Wuji Cellar and Healthy Wine in Jar.
  • Expanded the market, including Anhui and Henan, and strengthened brand image through events like the World Expo.
  • Optimized the product system and implemented quality management improvements with automation and technology.
  • Conducted talent development and improved internal management and structures.
• Challenges:
  • The transformation process was not fully completed.
  • Internal labor costs increased and employee needs became more diverse.

Financial Analysis

• Operating Revenues and Costs:
  • Distilled spirits contributed 97.44% of total operating revenues in 2015.
  • The cost structure remained stable with a slight increase in direct materials and direct labor.
• Cash Flow:
  • Net Operating Cash Flow increased significantly to RMB790 million, up 103.90% YoY.
  • Net Investment Cash Flow was RMB-331 million, up 60.35% YoY, mainly due to reduced construction payments.
  • Net Financing Cash Flow was RMB-100.72 million, up 42.86% YoY, due to decreased dividends.
• R&D Input:
  • R&D personnel increased to 506, representing 8.65% of total employees.
  • R&D input was RMB162.5 million, up 6.35% YoY.
  • The Company achieved several scientific and technological awards, including the Second Prize in Science and Technology Progress Prizes.

Key Information Summary

Financial Highlights

• Growth Metrics:
  • Operating Revenues: +12.96% YoY
  • Net Profit: +19.85% YoY
  • Net Operating Cash Flow: +103.90% YoY
  • EPS: +19.33% YoY
• Brand Value: Exceeded RMB37.555 billion, ranking in several top brand lists.

Market and Operational Changes

• The Company expanded into new markets and launched new marketing initiatives.
• The "Gujing 5.0" era was introduced to enhance customer experience and brand loyalty.
• The Company's marketing efforts were focused on key cities like Beijing, Shanghai, and Shenzhen.
• The Company incorporated Anhui Yuanqing Environmental Protection Co., Ltd. into its consolidated financial statements.

Customer and Supplier Overview

• Top 5 Customers: Total sales amounted to RMB1.079 billion, representing 20.54% of total sales.
• Top 5 Suppliers: Total purchases amounted to RMB416 million, representing 30.53% of total purchases.

Accounting and Standards

• No significant differences were found between financial data under domestic and overseas accounting standards.
• No retroactive adjustments or restatements were made due to accounting policy changes or errors.

Exceptional Profit/Loss

• The Company had no exceptional profit/loss items that required reclassification.

Conclusion

The 2015 Annual Report of Anhui Gujing Distillery Company Limited reflects strong financial performance, brand value growth, and strategic initiatives in marketing and operations. Despite industry challenges and internal pressures, the Company managed to achieve notable improvements in revenue, profit, and cash flow. The report emphasizes the Company's commitment to innovation, quality management, and sustainable development.