[三季报]泸州老窖(000568):2026年第三季度报告（英文）

 时间：2026年11月03日 19:02:39 中财网

原标题:泸州老窖:2026年第三季度报告（英文）

StockCode:000568 Stockabbreviation:LuzhouLaojiao AnnouncementNo.2026-36LuzhouLaojiaoCo.,Ltd.
Q32026Report
Luzhou Laojiao Co., Ltd. (hereinafterreferred to asthe “Company”)and all the membersof the Company’sBoardofDirectorsherebyguaranteethatthecontentsofthisReportaretrue,accurate andcompleteandfreeofanymisrepresentations,misleadingstatementsormaterialomissions.ImportantStatements:
1.TheBoardofDirectorsaswellasdirectorsandseniormanagementguaranteethattheinformationpresentedinthisreportisfreeofanyfalserecords,misleadingstatementsormaterialomissions,andshallindividuallyandtogetherbelegallyliablefortruthfulness,accuracyandcompletenessofitscontents.
2.TheresponsiblepersonfortheCompany,theresponsiblepersonforaccountingworkandtheresponsiblepersonfortheCompany’sfinancialaffairs(AccountingSupervisor)havewarrantedthatthefinancialstatementsinthisreportaretrue,accurateandcomplete.3.Whetherthefinancialstatementsofthisreporthavebeenauditedbyanauditor□Yes?No
ThisreporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.1.Keyfinancialinformation
1.1Keyaccountingdataandfinancialindicators
WhethertheCompanyperformedaretroactiveadjustmenttoorrestatementofaccountingdata.□Yes?No

　Q32026YoYchangeQ1-Q32026YoYchange
Operatingrevenues (CNY)4,195,391,986.95-37.14%14,667,616,562.73-36.58%
Netprofits attributableto shareholdersofthe Company(CNY)1,331,795,155.20-57.03%5,671,059,241.53-47.31%
Netprofits attributableto shareholdersofthe Companybefore non-recurringgains andlosses(CNY)1,329,187,091.79-57.01%5,620,637,939.28-47.67%
Netcashflowsfrom operatingactivities (CNY)——4,445,413,276.27-54.74%
Basicearningsper share(CNY/share)0.90-57.14%3.85-47.33%
Dilutedearningsper share(CNY/share)0.90-57.14%3.85-47.33%
Weightedaverage ROE3.01%-3.57%11.63%-10.37%
　September30,2026December31,2025Change　
Totalassets(CNY)59,346,398,004.7464,794,994,851.27-8.41%　
Netassets attributableto shareholdersofthe Company(CNY)47,053,709,808.4949,780,293,635.74-5.48%　
1.2Non-recurringgainsandlosses
?Applicable□N/A

ItemQ32026Q1-Q32026Note
Profitorlossfromdisposal ofnon-currentassets (includingthewrite-off portionoftheimpairment provision)107,037.78444,548.65　
Governmentgrants accountedfor,intheprofit orlossforthecurrent period(exceptforthe governmentgrantsclosely relatedtothebusinessof theCompanyandgivenin accordancewithdefined14,317,767.6633,492,454.55　
criteriaandincompliance withgovernmentpolicies, andhaveacontinuing impactontheCompany's profitorloss)　　　
Gainorlossonfair-value changesinfinancialassets andliabilitiesheldbya non-financialenterprise,as wellasondisposalof financialassetsand liabilities(exclusiveofthe effectiveportionofhedges thatisrelatedtothe Company'snormal businessoperations)2,169,075.7332,795,815.99　
Othernon-operating incomeandexpenditure exceptabove-mentioned items-13,148,235.08305,145.87　
Less:Corporateincome tax861,665.8216,640,745.95　
Minorityinterests(after tax)-24,083.14-24,083.14　
Total2,608,063.4150,421,302.25--
Otheritemsthatmeetthedefinitionofnon-recurringgain/loss:
?Applicable?N/A
Nosuchcasesforthereportingperiod.
Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in theExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-RecurringGainsandLossesasarecurringgain/lossitem.? ?
Applicable N/A
Nosuchcasesforthereportingperiod.
1.3Changesinkeyfinancialdataandindicatorsandreasonsforthechanges?Applicable?N/A
A. The closing balance of held-for-trading financial assets decreased by CNY 963,883,715.01comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof60.82%.Itwasmainlyduetotheredemptionsuponmaturityofwealthmanagementproductsinthecurrentperiod.B.TheclosingbalanceofaccountsreceivablesincreasedbyCNY26,349,718.64 comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof433.70%.Itwasmainlyduetoanincreaseinreceivablesfromoverseasoperations.
C.TheclosingbalanceofothercurrentassetsdecreasedbyCNY201,381,343.47comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof46.78%.Itwasmainlyduetotheoffsettinginthecurrentperiodoftheopeningamountofoverpaidtax.D.Theclosingbalance ofInvestmentpropertydecreased byCNY36,736,080.86 comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof76.70%.Itwasmainlyduetothereclassificationofcertainpreviouslyrentedpropertiesforownuseinthecurrentperiod.E.Theclosingbalanceofothernon-currentassetsincreasedbyCNY353,418,201.97comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof53.16%.Itwasmainlyduetotheincreased prepayment for long-term assets—the Chengdu Innovation and Development CenterBuilding—inthecurrentperiod.
F. The closing balance of short-term loans increased by CNY 3,001,758,333.34 compared to theopeningbalanceatthebeginningoftheyear.Itwasmainlyduetoaone-yearbankloanarrangedtomeettheCompany’sproductionandoperationneeds.
G.TheclosingbalanceofcontractliabilitiesdecreasedbyCNY1,050,974,009.30comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof31.21%;andtheclosingbalanceofothercurrentliabilitiesdecreasedbyCNY136,049,291.25comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof31.14%.Itwasmainlyduetoadecreaseinadvancepaymentsfromcustomersinthecurrentperiod.
H.TheclosingbalanceoftaxespayabledecreasedbyCNY527,905,594.75comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof32.73%.Itwasmainlyduetothepaymentinthecurrentperiodofthetaxespayableasattheendoflastyear.
I.TheclosingbalanceofotherpayabledecreasedbyCNY188,984,513.12comparedtotheopeningbalance at the beginning of the year, indicating a decrease of 30.69%. It was mainly due to theunlocking of the restricted share incentive plan, resulting ina decrease in liabilities recognized for
repurchaseobligations.
J. The closing balance of non-current liabilities due within one year decreased by CNY1,847,332,482.89comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof45.34%.Itwasmainlyduetotherepaymentofdueloans.
K. The closing balance of long-term loans decreased by CNY 1,899,364,419.42 compared to theopeningbalanceatthebeginningoftheyear,indicatingadecreaseof72.30%.Itwasmainlyduetothereclassificationoflong-termloansduewithinoneyear.
L.TheclosingbalanceoftreasurystockdecreasedbyCNY157,697,194.85comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof98.79%.Itwasmainlyduetotherelevantreversalasaresultoftheunlockingofrestrictedsharesinthecurrentperiod.M.TheclosingbalanceofothercomprehensiveincomedecreasedbyCNY84,745,736.43 comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof59.00%.ItwasmainlyduetothedecreasedfairvalueofequityinvestmentsandthedisposalofequityinterestsinNorthChemicalIndustriesCo.,Ltd.andotherinvesteesinthecurrentperiod.
N.OperatingrevenuesinthecurrentQ1-Q3perioddecreasedbyCNY8,459,843,339.40comparedtothesameperiodoflastyear,indicatingadecreaseof36.58%.Itwasmainlyduetothedecreasedproductsalesvolumeinthecurrentperiod.
O.InvestmentincomeinthecurrentQ1-Q3periodincreasedbyCNY49,539,347.31comparedtothesameperiodoflastyear,indicatinganincreaseof88.11%.ItwasmainlyduetotheincreasedearningsofinvesteeHuaxiSecuritiesandthedecreasednotediscountexpenses.P.TotalprofitsbeforetaxinthecurrentQ1-Q3perioddecreasedbyCNY7,078,980,212.15comparedtothe sameperiodoflastyear,indicatingadecreaseof48.53%.Itwasmainlyduetoan overalldecreaseinproductsalesvolumeandproductmixadjustments.
Q.IncometaxexpensesinthecurrentQ1-Q3perioddecreasedbyCNY2,005,245,890.20comparedtothesameperiodoflastyear,indicatingadecreaseof52.87%.Itwasmainlyduetoadecreaseintotalprofitsbeforetaxinthecurrentperiod.
R.Netprofitattributabletonon-controllinginterestsinthecurrentQ1-Q3periodincreasedbyCNY17,601,085.84comparedtothesameperiodoflastyear,indicatinganincreaseof54.50%.Itwasmainlyduetoayear-on-yeargrowthinnetprofitofnon-wholly-ownedsubsidiariesinthecurrentperiod.S. Net cash flows from operating activities in the current Q1-Q3 period decreased by CNY5,377,177,456.72comparedtothesameperiodoflastyear,indicatingadecreaseof54.74%.Itwasmainlyduetoadecreaseincashreceivedfromsaleofgoodsinthecurrentperiod.T. Net cash flows from investing activities in the current Q1-Q3 period increased by CNY248,690,732.17 compared to the same period of last year. It was mainly due to the decreasedinvestmentsinlong-termassetsinthecurrentperiod.
U.CashreceivedfromborrowingsinthecurrentQ1-Q3periodincreasedbyCNY3,319,635,580.58comparedtothesameperiodoflastyear.Itwasmainlyduetonewone-yearbankborrowingsraisedinthecurrentperiod.
V.CashpaidfordebtrepaymentsinthecurrentQ1-Q3periodincreasedbyCNY1,340,700,000.00comparedtothesameperiodoflastyear,indicatinganincreaseof49.29%.Itwasmainlyduetotherepaymentofmaturelong-termloansinthecurrentperiod.
2.Shareholderinformation
2.1Totalnumbersofcommonshareholdersandpreferenceshareholderswithresumedvotingrightsaswellasshareholdingsoftop10shareholders
Unit:Share

Totalnumberofcommon shareholdersattheendofthe reportingperiod202,684Totalnumberofpreferenceshareholderswith resumedvotingrightsattheendofthereporting period(ifany)0　　
Shareholdingsofthetop10shareholders(exclusiveofshareslentinrefinancing)　　　　　
NameofNatureofShareholdingTotalsharesNumberofPledged,markedorfrozen

shareholdershareholderpercentageheldholding restricted sharesshares　
　　　　　Statusof sharesNumberof shares
Luzhou LaojiaoGroup Co.,Ltd.State-owned corporation26.05%383,433,6390N/A0
Luzhou XingLu Investment GroupCo., Ltd.State-owned corporation24.86%365,971,1420N/A0
BankofChina Co.,Ltd.– Baijiuindex classification securities investment fundbyChina Merchants FundOther4.83%71,148,0320N/A0
China Securities Finance Corporation LimitedOther1.51%22,224,8210N/A0
HongKong Securities Clearing Company LimitedOutbound corporation1.48%21,710,5840N/A0
China Construction Bank Corporation－ Penghua Wine&Liquor Exchange- TradedFundOther1.44%21,225,1080N/A0
RuiLife Insurance Co.,Ltd.－ OwnFundsOther1.36%20,049,8400N/A0
Guofeng Xinghua (Beijing) PrivateEquity Fund Management Co.,Ltd.－ Guofeng Xinghua Honghuzhiyua nTranche3 Private Securities Investment FundNo.1Other1.23%18,166,4000N/A0
BankofChina Co.,Ltd.－ Bluechip selected hybrid securities investment fundbyE FundOther0.82%12,000,1120N/A0
Industrialand Commercial BankofChina Co.,Ltd.－CSI Main Consumer Exchange- TradedOpen- EndedIndex Securities Investment FundOther0.67%9,861,8480N/A0
Shareholdingsofthetop10non-restrictedshareholders(exclusiveofshareslentinrefinancingandlockedsharesof executives)　　　　　　
NameofshareholderNumberofnon-restrictedsharesheldTypeandnumberofshares　　　　
　　TypeNumber　　　
LuzhouLaojiaoGroupCo.,Ltd.383,433,639CNYcommon shares383,433,639　　　
LuzhouXingLuInvestment GroupCo.,Ltd.365,971,142CNYcommon shares365,971,142　　　
BankofChinaCo.,Ltd.–Baijiu indexclassificationsecurities investmentfundbyChina MerchantsFund71,148,032CNYcommon shares71,148,032　　　
ChinaSecuritiesFinance CorporationLimited22,224,821CNYcommon shares22,224,821　　　
HongKongSecuritiesClearing CompanyLimited21,710,584CNYcommon shares21,710,584　　　
ChinaConstructionBank Corporation－PenghuaWine& LiquorExchange-TradedFund21,225,108CNYcommon shares21,225,108　　　
RuiLifeInsuranceCo.,Ltd.－ OwnFunds20,049,840CNYcommon shares20,049,840　　　
GuofengXinghua(Beijing) PrivateEquityFund ManagementCo.,Ltd.－ GuofengXinghua HonghuzhiyuanTranche3 PrivateSecuritiesInvestment FundNo.118,166,400CNYcommon shares18,166,400　　　
BankofChinaCo.,Ltd.－Blue chipselectedhybridsecurities investmentfundbyEFund12,000,112CNYcommon shares12,000,112　　　
IndustrialandCommercial BankofChinaCo.,Ltd.－CSI MainConsumerExchange- TradedOpen-EndedIndex SecuritiesInvestmentFund9,861,848CNYcommon shares9,861,848　　　

Relatedpartiesoracting-in-concert1.LuzhouLaojiaoGroupCo.,Ltd.andLuzhouXingLuInvestment GroupCo.,Ltd.arebothstate-ownedholdingcompaniesunder thejurisdictionofSASACofLuzhou.Thetwocompanieshave signedtheagreementofpersonsactinginconcert.Fordetails, pleaserefertotheannouncementoftheCompanyonMay23, 2024-AnnouncementontheRenewedAgreementofPersons ActinginConcertSignedbyShareholders(AnnouncementNo. 2024-22). 2.Inaddition,whetherthereisanassociationbetweenthe remainingshareholdersortheybelongtopersonsactingin concertisunknown.
Top10shareholdersparticipatinginsecurities margintrading(ifany)None
5%orgreatershareholders,top10shareholdersandTop10unrestrictedshareholdersinvolvedinrefinancingshareslending
□Applicable?N/A
Changesin top 10 shareholdersand top 10 unrestricted shareholdersdue to refinancing shareslending/returncomparedwiththepriorperiod
□Applicable?N/A
2.2 Total number of preferred shareholders and shareholdings of the top 10 preferredshareholders
□Applicable?N/A
3.Othersignificantevents
?Applicable□N/A
A.Progressontherestrictedshareincentiveplan
a.OnFebruary4,2026,theCompanyheldthe21stMeetingofthe11thBoardofDirectors,atwhichthe Proposal on the Satisfaction of Unlocking Conditions for the Second Unlocking Period of theReserved Restricted Shares under the 2021 Restricted Share Incentive Plan, the Proposal on theSatisfaction of Unlocking Conditions for the Third Unlocking Period of the 2021 Restricted ShareIncentivePlan,andtheProposalontheRepurchaseandRetirementofCertainRestrictedSharesandthe Adjustment of Repurchase Price were reviewed and approved. On February 5, the Companydisclosed the Announcement on the Repurchase and Retirement of Certain Restricted Shares toReduce Registered Capital and Notice to Creditors. By the expiration of the declaring period, theCompanyhadnotreceivedanydeclarationfromtherelevantcreditorsforearlypayoutofdebtsorprovisionofguarantee.
b.OnFebruary13,2026,theCompanydisclosedtheReminderAnnouncementonUnlockedSharesinthe Second UnlockingPeriod ofthe Reserved Restricted Sharesunder the 2021 RestrictedShareIncentivePlanBeingAllowedforPublicTrading,aswellastheReminderAnnouncementonUnlockedPublicTrading.Assuch,theunlockedrestrictedsharesinthesecondunlockingperiodofthereservedrestrictedsharesandinthethirdunlockingperiodunderthe2021RestrictedShareIncentivePlanwereallowedforpublictradingonFebruary24,2026.
c.OnJune3,2026,theCompanydisclosedtheAnnouncementontheCompletionoftheRepurchaseand Retirement of Certain Restricted Shares. As at June 3, 2026, the Company completed therepurchaseandretirementof40,500restrictedshares.
d.OnSeptember16,2026,theCompanyheldthe29thMeetingofthe11thBoardofDirectors,atwhichtheProposalontheSatisfactionofUnlockingConditionsfortheThirdUnlockingPeriodoftheReservedRestrictedSharesunderthe2021RestrictedShareIncentivePlanwasreviewedandapproved.OnSeptember17,theCompanydisclosedtheAnnouncementontheSatisfactionofUnlockingConditionsfortheThirdUnlockingPeriodoftheReservedRestrictedSharesunderthe2021RestrictedShareIncentivePlan.
e.OnSeptember23,2026,theCompanydisclosedtheReminderAnnouncementonUnlockedSharesintheThirdUnlockingPeriodoftheReservedRestrictedSharesunderthe2021 RestrictedShareIncentivePlanBeingAllowedforPublicTrading.Assuch,theunlockedrestrictedsharesinthethirdunlockingperiodofthereservedrestrictedsharesunderthe2021RestrictedShareIncentivePlanwereallowedforpublictradingonSeptember28,2026.
B.TheCompanyinvestedintheTechnicalRenovationProjectofIntelligentBaijiuProduction(PhaseI)withthewholly-ownedsubsidiary,LuzhouLaojiaoBaijiuProductionCo.,Ltd.,astheimplementer.Thetotal investment amount approximated CNY 4,782.5090 million. For further information, seeAnnouncementNo.2022-24ontheImplementationofLuzhouLaojiaoTechnicalRenovationProjectofIntelligentBaijiuProduction(PhaseI)bySubsidiary.Theprogramiscurrentlyunderconstruction.4.Financialstatements
4.1Financialstatements
4.1.1Consolidatedbalancesheet
Preparedby:LuzhouLaojiaoCo.,Ltd.
September30,2026

ItemSeptember30,2026December31,2025
Currentassets:　　
Cashandcashequivalents22,502,583,597.8927,341,566,698.37
Settlementreserves　　
Lendingfunds　　
Held-for-tradingfinancialassets620,888,244.361,584,771,959.37
Derivativefinancialassets　　
Notesreceivables　　
Accountsreceivables32,425,289.306,075,570.66
Accountsreceivablesfinancing1,298,533,766.121,466,494,973.96
Prepayment176,717,540.24145,596,475.65
Premiumsreceivable　　
Reinsuranceaccountsreceivable　　
Reinsurancecontractreserve　　
Otherreceivables16,440,331.4217,318,326.51
Including：Interestsreceivable　　
Dividendsreceivable　　
Buyingbackthesaleoffinancial assets　　
Inventories15,679,403,351.4215,396,031,707.35
Including:Dataresource　　
Contractassets　　
Assetsheldforsale　　
Non-currentassetsduewithinone year　　
Othercurrentassets229,078,567.16430,459,910.63
Totalcurrentassets40,556,070,687.9146,388,315,622.50
Non-currentassets:　　
Disbursementofloansandadvances　　
Investmentsindebtobligations　　
Investmentsinotherdebtobligations　　
Long-termreceivables　　
Long-termequityinvestments2,992,994,211.952,930,804,469.77
Investmentsinotherequity instruments358,164,588.41475,499,237.90
Othernon-currentfinancialassets　　
Investmentproperty11,156,670.2247,892,751.08
Fixedassets8,168,339,010.118,523,891,404.03
Constructioninprogress2,594,614,693.912,064,766,283.24
Productivebiologicalassets　　
Oilandgasassets　　
Userightassets13,559,076.7719,863,214.19
Intangibleassets3,372,815,756.643,414,065,535.11
Including:Dataresource1,785,382.372,856,611.80
Developmentexpenses　　
Including:Dataresource　　
Goodwill　　
Long-termdeferredexpenses756,014.131,034,985.48
Deferredtaxassets259,667,725.68264,019,980.93
Othernon-currentassets1,018,259,569.01664,841,367.04
Totalnon-currentassets18,790,327,316.8318,406,679,228.77
Totalassets59,346,398,004.7464,794,994,851.27
Currentliabilities:　　
Short-termloans3,001,758,333.34　
Borrowingsfromthecentralbank　　
Loansfromotherbanks　　
Held-for-tradingfinancialliabilities　　
Derivativefinancialliabilities　　
Notespayable　　
Accountspayable1,386,079,376.011,413,421,175.80
Advancefromcustomer2,592,640.932,014,696.36
Contractliabilities2,316,469,718.533,367,443,727.83
Financialassetssoldforrepurchase　　
Depositsfromcustomersandinter- bank　　
Customerbrokeragedeposits　　
Securitiesunderwritingbrokerage deposits　　
Employeebenefitspayable428,547,687.31481,722,380.36
Taxespayable1,084,978,475.061,612,884,069.81
Otherpayable426,768,953.76615,753,466.88
Including：Interestspayable　　
Dividendspayable28,163,719.8428,163,719.84
Handlingchargesandcommissions payable　　
Reinsuranceaccountspayable　　
Liabilitiesheldforsale　　
Non-currentliabilitiesduewithinone year2,226,866,730.164,074,199,213.05
Othercurrentliabilities300,870,979.74436,920,270.99
Totalcurrentliabilities11,174,932,894.8412,004,359,001.08
Non-currentliabilities:　　
Insurancecontractreserves　　
Long-termloans727,801,891.512,627,166,310.93
Bondspayable　　
Including：Preferenceshares　　
Perpetualbonds　　
Leaseliabilities14,638,450.3015,693,190.61
Long-termpayables　　
Long-termpayrollpayables　　
Accruedliabilities　　
Deferredincome80,397,517.8182,513,945.77
Deferredtaxliabilities133,136,169.75171,180,022.42
Othernon-currentliabilities　　
Totalnon-currentliabilities955,974,029.372,896,553,469.73
Totalliabilities12,130,906,924.2114,900,912,470.81
Owners'equity　　
Sharecapital1,471,901,463.001,471,941,963.00
Otherequityinstruments　　
Including:preferenceshares　　
Perpetualbonds　　
Capitalreserves5,440,926,475.375,439,328,102.53
Less:treasurystock1,937,079.62159,634,274.47
Othercomprehensiveincome58,883,117.09143,628,853.52
Specialreserves　　
Surplusreserves1,471,941,963.001,471,941,963.00
Generalriskreserve　　
Undistributedprofits38,611,993,869.6541,413,087,028.16
Totalequityattributabletoownersof theparentcompany47,053,709,808.4949,780,293,635.74
Non-controllinginterests161,781,272.04113,788,744.72
Totalowners'equity47,215,491,080.5349,894,082,380.46
Totalliabilitiesandowners'equity59,346,398,004.7464,794,994,851.27
Legalrepresentative:LiuMiao
Personinchargeofaccountingaffairs:XieHong
Personinchargeofaccountingdepartment:SongYing
4.1.2Consolidatedincomestatement forQ1-Q3
Unit:CNY

ItemQ1-Q32026Q1-Q32025
1.Totaloperatingrevenue14,667,616,562.7323,127,459,902.13
Including:Operatingrevenue14,667,616,562.7323,127,459,902.13
Interestincome　　
Earnedpremium　　
Feeandcommission income　　
2.Totaloperatingcosts7,336,890,853.378,624,016,188.94
Including:Costofsales2,399,983,662.332,980,340,788.02
Interestexpense　　
Handlingchargesand commissionexpenses　　
Refundedpremiums　　
Netpaymentsfor insuranceclaims　　
Netprovisionfor insurancecontracts　　
Bondinsuranceexpense　　
ReinsuranceExpenses　　
Taxesandsurcharges2,512,295,331.832,800,294,797.90
Sellinganddistribution expenses2,000,805,628.942,419,363,363.64
Generaland administrativeexpenses604,498,611.64681,884,971.89
Researchand Developmentexpenses113,706,403.94127,236,495.49
Financialexpenses-294,398,785.31-385,104,228.00
Including：Interest expenses89,268,523.91125,045,963.68
Interestincome400,428,772.68517,472,242.09
Plus:Otherincome39,909,399.7838,992,675.48
Investmentincome("-"for losses)105,765,315.6056,225,968.29
Including:incomefrom investmentinassociatesandjoint ventures124,808,000.86110,153,845.03
Incomefromthe derecognitionoffinancialassets measuredatamortizedcost　　
Foreignexchangegains("-" forlosses)　　
Netgainonexposurehedges (“-”forlosses)　　
Gainsfromthechangesinfair values(“-“forlosses)32,683,422.4022,725,744.18
Creditimpairmentlosses(“-” forlosses)-1,248,358.94212,642.32
Impairmentlosses(“-“for losses)　　
Gainsfromdisposalof assets("-"forlosses)444,548.65-582,373.63
3.Operatingprofits("-"forlosses)7,508,280,036.8514,621,018,369.83
Plus:non-operatingincome20,365,748.4614,538,207.24
Less:non-operatingexpenses20,060,602.5947,991,182.20
4.Totalprofitsbeforetax ("-"for totallosses)7,508,585,182.7214,587,565,394.87
Less:incometaxexpenses1,787,628,886.723,792,874,776.92
5.Netprofit("-"fornetloss)5,720,956,296.0010,794,690,617.95
5.1Byoperatingcontinuity　　
5.1.1Netprofitfromcontinuing operation("-"forlosses)5,720,956,296.0010,794,690,617.95
5.1.2Netprofitfromdiscontinued operation("-"forlosses)　　
5.2Byownership　　
1)Attributabletoshareholdersofthe parentcompany("-"forlosses)5,671,059,241.5310,762,394,649.32
2)Attributabletonon-controlling interests("-"forlosses)49,897,054.4732,295,968.63
6.Netoftaxfromother comprehensiveincome-59,194,445.8639,344,460.12
Netoftaxfromothercomprehensive incometotheowneroftheparent company-57,250,521.1239,901,755.85
6.1Othercomprehensiveincome cannotbereclassifiedintotheprofit andloss:-60,023,042.2039,226,482.98
1)Remeasurethevariationofnet indebtednessornetassetofdefined benefitplans　　
2)Shareinothercomprehensive incomethatcannotbeclassifiedinto profitandlossunderequitymethod-670,866.48505,649.11
3)Changesinfairvalueof investmentsinotherequity instruments-59,352,175.7238,720,833.87
4)Changesinfairvalueofthe company’screditrisks　　
5)Other　　
6.2Othercomprehensiveincome thatwillbereclassifiedintotheprofit andloss2,772,521.08675,272.87
1)Shareinothercomprehensive incomethatwillbeclassifiedinto profitandlossunderequitymethod5,147,740.841,356,156.40
2)Changesinfairvalueof investmentsinotherdebtobligations　　
3)Othercomprehensiveincome arisingfromthereclassificationof financialassets　　
4)Allowanceforcreditimpairmentsin investmentsinotherdebtobligations　　
5)Reserveforcash-flowhedge　　
6)Balancearisingfromthe translationofforeigncurrency financialstatements-2,375,219.76-680,883.53
7)Others　　
Netoftaxfromothercomprehensive incometonon-controllinginterests-1,943,924.74-557,295.73
7.Totalcomprehensiveincome5,661,761,850.1410,834,035,078.07
(1)Totalcomprehensiveincome attributabletoownersoftheparent company5,613,808,720.4110,802,296,405.17
(2)Totalcomprehensiveincome attributabletonon-controlling interests47,953,129.7331,738,672.90
8.Earningspershare　　
(1)Basicearningspershare3.857.31
(2)Dilutedearningspershare3.857.31
Legalrepresentative:LiuMiao（未完）
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