泸州老窖：2026年第一季度报告(英文)
StockCode:000568Stockabbreviation:LuzhouLaojiaoAnnouncementNo.2026-17
LuzhouLaojiaoCo.,Ltd.
Q12026Report
LuzhouLaojiaoCo.,Ltd.(hereinafterreferredtoasthe“Company”)andallthemembersoftheCompany’sBoardofDirectorsherebyguaranteethatthecontentsofthisReportaretrue,accurateandcompleteandfreeofanymisrepresentations,misleadingstatementsormaterialomissions.
ImportantStatements:
1.TheBoardofDirectors,directors,andseniormanagementguaranteethattheinformationpresentedinthisreportisfreeofanyfalserecords,misleadingstatementsormaterialomissions,andshallindividuallyandtogetherbelegallyliablefortruthfulness,accuracyandcompletenessofitscontents.
2.TheresponsiblepersonfortheCompany,theresponsiblepersonforaccountingworkandtheresponsiblepersonfortheCompany’sfinancialaffairs(AccountingSupervisor)havewarrantedthatthefinancialstatementsinthisreportaretrue,accurateandcomplete.
3.Whetherthefinancialstatementsofthisreporthavebeenauditedbyanauditor
□Yes?NoThisreporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail.
1.Keyfinancialinformation
1.1KeyaccountingdataandfinancialindicatorsWhethertheCompanyperformedaretroactiveadjustmenttoorrestatementofaccountingdata.
□Yes?No
| Q12026 | Q12025 | YoYchange(%) | |
| Operatingrevenues(CNY) | 8,025,174,114.21 | 9,352,165,445.50 | -14.19% |
| NetprofitsattributabletoshareholdersoftheCompany(CNY) | 3,708,450,417.95 | 4,592,780,509.90 | -19.25% |
| NetprofitsattributabletoshareholdersoftheCompanybeforenon-recurringgainsandlosses(CNY) | 3,683,573,536.09 | 4,595,090,018.42 | -19.84% |
| Netcashflowsfromoperatingactivities(CNY) | 4,543,022,746.04 | 3,307,744,331.60 | 37.35% |
| Basicearningspershare(CNY/share) | 2.52 | 3.13 | -19.49% |
| Dilutedearningspershare(CNY/share) | 2.52 | 3.13 | -19.49% |
| WeightedaverageROE | 7.32% | 9.48% | -2.16% |
| March31,2026 | December31,2025 | Change(%) | |
| Totalassets(CNY) | 66,166,682,911.76 | 64,794,994,851.27 | 2.12% |
| NetassetsattributabletoshareholdersoftheCompany(CNY) | 51,598,622,667.87 | 49,780,293,635.74 | 3.65% |
1.2Non-recurringgainsandlosses?Applicable□N/A
Unit:CNY
| Item | Q12026 | Note |
| Governmentgrantsrecognizedinprofitorloss(exclusiveofthosethatarecloselyrelatedtotheCompany'snormalbusinessoperationsandgiveninaccordancewithdefinedcriteriaandincompliancewithgovernmentpolicies,andhaveacontinuingimpactontheCompany'sprofitorloss) | 11,307,543.99 | |
| Gainorlossonfair-valuechangesinfinancialassetsandliabilitiesheldbyanon-financialenterprise,aswellasondisposaloffinancialassetsandliabilities(exclusiveoftheeffectiveportionofhedgesthatisrelatedtotheCompany'snormalbusinessoperations) | 13,814,320.73 | |
| Othernon-operatingincomeandexpenditureexceptabove-mentioneditems | 7,901,484.54 |
| Less:Corporateincometax | 8,146,467.40 | |
| Total | 24,876,881.86 | -- |
Otheritemsthatmeetthedefinitionofnon-recurringgain/loss:
□Applicable?N/ANosuchcasesforthereportingperiod.ExplainthereasonsiftheCompanyclassifiesanynon-recurringgain/lossitemmentionedintheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-RecurringGainsandLossesasarecurringgain/lossitem.
□Applicable?N/ANosuchcasesforthereportingperiod.
1.3Changesinkeyfinancialdataandindicatorsandreasonsforthechanges?Applicable?N/AA.TheclosingbalanceofaccountsreceivablesincreasedbyCNY12,899,070.79comparedtotheopeningbalance,indicatinganincreaseof212.31%.Itwasmainlyduetotheincreasedreceivablesarisingfromoverseasbaijiusaleswithinthecontractterm.B.TheclosingbalanceofaccountsreceivablesfinancingdecreasedbyCNY626,118,828.36comparedtotheopeningbalance,indicatingadecreaseof42.69%.Itwasmainlyduetothediscountingofnotesandthehonoringofduenotesinthecurrentperiod.C.TheclosingbalanceofprepaymentincreasedbyCNY97,462,139.48comparedtotheopeningbalance,indicatinganincreaseof66.94%.Itwasmainlyduetotheincreasedprepaymenttosuppliersforadvertising.D.TheclosingbalanceofothercurrentassetsdecreasedbyCNY150,127,011.38comparedtotheopeningbalance,indicatingadecreaseof34.88%.Itwasmainlyduetotheoffsettinginthecurrentperiodoftheopeningoverpaidtax.E.Theclosingbalanceofshort-termloansincreasedbyCNY3,000,000,000.00comparedtotheopeningbalance.Itwasmainlyduetoaone-yearbankloanarrangedtomeettheCompany’sproductionandoperationneeds.F.TheclosingbalanceofemployeebenefitspayabledecreasedbyCNY163,866,529.65comparedtotheopeningbalance,indicatingadecreaseof34.02%.Itwasmainlyduetothesettlementinthecurrentperiodofperformance-basedpayforlastyear.G.TheclosingbalanceoftaxespayableincreasedbyCNY712,086,214.74comparedtotheopeningbalance,indicatinganincreaseof44.15%.Itwasmainlyduetothequarter-on-quartergrowthofrevenueinthefirstquarterof2026,leadingtoanincreaseincurrenttaxespayable.H.Theclosingbalanceofnon-currentliabilitiesduewithinoneyeardecreasedbyCNY2,055,002,991.79comparedtotheopeningbalance,indicatingadecreaseof50.44%.Itwasmainlyduetotherepaymentofdueloans.
I.Theclosingbalanceoflong-termloansdecreasedbyCNY974,746,677.18comparedtotheopeningbalance,indicatingadecreaseof37.10%.Itwasmainlyduetothereclassificationoflong-termloansduewithinoneyear.J.TheclosingbalanceoftreasurystockdecreasedbyCNY147,318,232.67comparedtotheopeningbalance,indicatingadecreaseof92.28%.Itwasmainlyduetotherelevantreversalasaresultoftheunlockingofrestrictedsharesinthecurrentperiod.K.InterestexpenseinthecurrentperioddecreasedbyCNY19,645,444.38comparedtothesameperiodoflastyear,indicatingadecreaseof37.78%.Itwasmainlyduetothedecreasedinterestexpenditureonloansinthecurrentperiod.L.InvestmentincomeinthecurrentperiodincreasedbyCNY22,365,181.00comparedtothesameperiodoflastyear.ItwasmainlyduetotheincreasedearningsofinvesteeHuaxiSecuritiesandthedecreasednotediscountexpenses.M.Non-operatingexpensesinthecurrentperioddecreasedbyCNY26,375,176.43comparedtothesameperiodoflastyear,indicatingadecreaseof97.69%.Itwasmainlyduetothedecreaseddonationexpensesinthecurrentperiod.N.NetcashflowsfromoperatingactivitiesinthecurrentperiodincreasedbyCNY1,235,278,414.44comparedtothesameperiodoflastyear,indicatinganincreaseof37.35%.Itwasmainlyduetothedecreasedcashoutflowsfromoperatingactivities.O.NetcashflowsfrominvestingactivitiesinthecurrentperiodincreasedbyCNY64,122,696.04comparedtothesameperiodoflastyear.Itwasmainlyduetothedecreasedpaymentsforlong-termassetandwealthmanagementproductinvestmentsinthecurrentperiod.P.NetcashflowsfromfinancingactivitiesinthecurrentperiodincreasedbyCNY1,540,949,302.46comparedtothesameperiodoflastyear.Itwasmainlyduetotheone-yearbankloanarrangedinthecurrentperiod.
2.Shareholderinformation
2.1Totalnumbersofcommonshareholdersandpreferenceshareholderswithresumedvotingrightsaswellasshareholdingsoftop10shareholders
Unit:Share
| Totalnumberofcommonshareholdersattheendofthereportingperiod | 182,100 | Totalnumberofpreferenceshareholderswithresumedvotingrightsattheendofthereportingperiod(ifany) | 0 | |||
| Shareholdingsofthetop10shareholders(exclusiveofshareslentinrefinancing) | ||||||
| Nameofshareholder | Natureofshareholder | Shareholdingpercentage | Totalsharesheld | Numberofholdingrestrictedshares | Pledged,markedorfrozenshares | |
| Statusofshares | Numberofshares | |||||
| LuzhouLaojiaoGroupCo.,Ltd. | State-ownedcorporation | 26.05% | 383,433,639 | 0 | N/A | 0 |
| LuzhouXingLu | State-ownedcorporation | 24.86% | 365,971,142 | 0 | N/A | 0 |
| InvestmentGroupCo.,Ltd. | ||||||
| BankofChinaCo.,Ltd.–BaijiuindexclassificationsecuritiesinvestmentfundbyChinaMerchantsFund | Other | 3.84% | 56,467,392 | 0 | N/A | 0 |
| ChinaSecuritiesFinanceCorporationLimited | Other | 2.20% | 32,312,117 | 0 | N/A | 0 |
| HongKongSecuritiesClearingCompanyLimited | Outboundcorporation | 1.85% | 27,177,581 | 0 | N/A | 0 |
| BankofChinaCo.,Ltd.－BluechipselectedhybridsecuritiesinvestmentfundbyEFund | Other | 1.72% | 25,250,000 | 0 | N/A | 0 |
| ChinaConstructionBankCorporation－PenghuaWine&LiquorExchange-TradedFund | Other | 1.36% | 19,992,542 | 0 | N/A | 0 |
| GuofengXinghua(Beijing)PrivateEquityFundManagementCo.,Ltd.－GuofengXinghuaHonghuzhiyuanTranche3PrivateSecuritiesInvestmentFundNo.1 | Other | 1.28% | 18,871,962 | 0 | N/A | 0 |
| ChinaLifeInsuranceCompany | Other | 0.96% | 14,103,644 | 0 | N/A | 0 |
| Limited–Traditional–OrdinaryInsuranceProduct–005L–CT001(Shanghai) | ||||||
| CentralHuijinAssetManagementCo.,Ltd. | State-ownedcorporation | 0.92% | 13,539,862 | 0 | N/A | 0 |
| Shareholdingsofthetop10non-restrictedshareholders(exclusiveofshareslentinrefinancingandlockedsharesofexecutives) | ||||||
| Nameofshareholder | Numberofnon-restrictedsharesheld | Typeandnumberofshares | ||||
| Type | Number | |||||
| LuzhouLaojiaoGroupCo.,Ltd. | 383,433,639 | CNYcommonshares | 383,433,639 | |||
| LuzhouXingLuInvestmentGroupCo.,Ltd. | 365,971,142 | CNYcommonshares | 365,971,142 | |||
| BankofChinaCo.,Ltd.–BaijiuindexclassificationsecuritiesinvestmentfundbyChinaMerchantsFund | 56,467,392 | CNYcommonshares | 56,467,392 | |||
| ChinaSecuritiesFinanceCorporationLimited | 32,312,117 | CNYcommonshares | 32,312,117 | |||
| HongKongSecuritiesClearingCompanyLimited | 27,177,581 | CNYcommonshares | 27,177,581 | |||
| BankofChinaCo.,Ltd.－BluechipselectedhybridsecuritiesinvestmentfundbyEFund | 25,250,000 | CNYcommonshares | 25,250,000 | |||
| ChinaConstructionBankCorporation－PenghuaWine&LiquorExchange-TradedFund | 19,992,542 | CNYcommonshares | 19,992,542 | |||
| GuofengXinghua(Beijing)PrivateEquityFundManagementCo.,Ltd.－GuofengXinghuaHonghuzhiyuanTranche3PrivateSecuritiesInvestmentFundNo.1 | 18,871,962 | CNYcommonshares | 18,871,962 | |||
| ChinaLifeInsuranceCompanyLimited–Traditional–OrdinaryInsuranceProduct–005L–CT001(Shanghai) | 14,103,644 | CNYcommonshares | 14,103,644 | |||
| CentralHuijinAssetManagementCo.,Ltd. | 13,539,862 | CNYcommonshares | 13,539,862 | |||
| Relatedpartiesoracting-in-concert | 1.LuzhouLaojiaoGroupCo.,Ltd.andLuzhouXingLuInvestmentGroupCo.,Ltd.arebothstate-ownedholdingcompaniesunderthejurisdictionofSASACofLuzhou.Thetwocompanieshavesignedtheagreementofpersonsactinginconcert.Fordetails,pleaserefertotheannouncementoftheCompanyonMay23,2024-AnnouncementontheRenewedAgreementofPersonsActinginConcertSignedbyShareholders(AnnouncementNo.2024-22).2.LuzhouLaojiaoGroupCo.,Ltd.anditswholly-ownedsubsidiarySichuanGoldenRudderInvestmentCo.,Ltd.collectivelyhold384,573,839sharesintheCompany,representing26.13%ofthe | |||||
| totalsharecapitaloftheCompany.3.Inaddition,whetherthereisanassociationbetweentheremainingshareholdersortheybelongtopersonsactinginconcertisunknown. | |
| Top10shareholdersparticipatinginsecuritiesmargintrading(ifany) | N/A |
5%orgreatershareholders,top10shareholdersandTop10unrestrictedshareholdersinvolvedinrefinancingshareslending
□Applicable?N/AChangesintop10shareholdersandtop10unrestrictedshareholdersduetorefinancingshareslending/returncomparedwiththepriorperiod
□Applicable?N/A
2.2Totalnumberofpreferredshareholdersandshareholdingsofthetop10preferredshareholders
□Applicable?N/A
3.Othersignificantevents
?Applicable□N/AA.OnJanuary29,2026,theCompanycarriedoutthe2025interimdividendpayoutofCNY13.58(taxinclusive)forevery10existingsharesheld,totalingCNY1,998,897,185.75(taxinclusive).B.OnFebruary4,2026,theCompanyheldthe21stMeetingofthe11thBoardofDirectors,atwhichtheProposalontheSatisfactionofUnlockingConditionsfortheSecondUnlockingPeriodoftheReservedRestrictedSharesunderthe2021RestrictedShareIncentivePlanandtheProposalontheSatisfactionofUnlockingConditionsfortheThirdUnlockingPeriodofthe2021RestrictedShareIncentivePlanwerereviewedandapprovedrespectively.Astheunlockingconditionshadbeensatisfiedforthesecondunlockingperiodofthereservedrestrictedsharesandforthethirdunlockingperiodunderthe2021RestrictedShareIncentivePlan,atotalof1,990,614restrictedsharesheldby438eligibleawardeeswereunlockedforpublictradingonFebruary24,2026.C.TheCompanyinvestedintheTechnicalRenovationProjectofIntelligentBaijiuProduction(PhaseI)withthewholly-ownedsubsidiary,LuzhouLaojiaoBaijiuProductionCo.,Ltd.,astheimplementer.ThetotalinvestmentamountapproximatedCNY4,782.5090million.Forfurtherinformation,seeAnnouncementNo.2022-24ontheImplementationofLuzhouLaojiaoTechnicalRenovationProjectofIntelligentBaijiuProduction(PhaseI)bySubsidiary.Theprogramiscurrentlyunderconstruction.
4.Financialstatements
4.1Financialstatements
4.1.1ConsolidatedbalancesheetPreparedby:LuzhouLaojiaoCo.,Ltd.
March31,2026
Unit:CNY
| Item | March31,2026 | December31,2025 |
| Currentassets: | ||
| Cashandcashequivalents | 29,886,113,437.36 | 27,341,566,698.37 |
| Settlementreserves | ||
| Lendingfunds | ||
| Held-for-tradingfinancialassets | 1,507,953,548.02 | 1,584,771,959.37 |
| Derivativefinancialassets | ||
| Notesreceivables | ||
| Accountsreceivables | 18,974,641.45 | 6,075,570.66 |
| Accountsreceivablesfinancing | 840,376,145.60 | 1,466,494,973.96 |
| Prepayment | 243,058,615.13 | 145,596,475.65 |
| Premiumsreceivable | ||
| Reinsuranceaccountsreceivable | ||
| Reinsurancecontractreserve | ||
| Otherreceivables | 16,427,861.89 | 17,318,326.51 |
| Including：Interestsreceivable | ||
| Dividendsreceivable | 494,532.68 | |
| Buyingbackthesaleoffinancialassets | ||
| Inventories | 15,116,434,668.42 | 15,396,031,707.35 |
| Including:Dataresource | ||
| Contractassets | ||
| Assetsheldforsale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 280,332,899.25 | 430,459,910.63 |
| Totalcurrentassets | 47,909,671,817.12 | 46,388,315,622.50 |
| Non-currentassets: | ||
| Disbursementofloansandadvances | ||
| Investmentsindebtobligations | ||
| Investmentsinotherdebtobligations | ||
| Long-termreceivables | ||
| Long-termequityinvestments | 2,973,833,464.30 | 2,930,804,469.77 |
| Investmentsinotherequityinstruments | 416,786,915.87 | 475,499,237.90 |
| Othernon-currentfinancialassets | ||
| Investmentproperty | 47,304,265.31 | 47,892,751.08 |
| Fixedassets | 8,391,477,936.47 | 8,523,891,404.03 |
| Constructioninprogress | 2,145,974,956.91 | 2,064,766,283.24 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Userightassets | 17,555,004.67 | 19,863,214.19 |
| Intangibleassets | 3,392,761,786.62 | 3,414,065,535.11 |
| Including:Dataresource | 2,499,535.32 | 2,856,611.80 |
| Developmentexpenses | ||
| Including:Dataresource |
| Goodwill | ||
| Long-termdeferredexpenses | 993,526.74 | 1,034,985.48 |
| Deferredtaxassets | 198,788,225.91 | 264,019,980.93 |
| Othernon-currentassets | 671,535,011.84 | 664,841,367.04 |
| Totalnon-currentassets | 18,257,011,094.64 | 18,406,679,228.77 |
| Totalassets | 66,166,682,911.76 | 64,794,994,851.27 |
| Currentliabilities: | ||
| Short-termloans | 3,000,000,000.00 | |
| Borrowingsfromthecentralbank | ||
| Loansfromotherbanks | ||
| Held-for-tradingfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 1,253,354,700.94 | 1,413,421,175.80 |
| Advancefromcustomer | 2,170,721.98 | 2,014,696.36 |
| Contractliabilities | 2,793,658,685.92 | 3,367,443,727.83 |
| Financialassetssoldforrepurchase | ||
| Depositsfromcustomersandinter-bank | ||
| Customerbrokeragedeposits | ||
| Securitiesunderwritingbrokeragedeposits | ||
| Employeebenefitspayable | 317,855,850.71 | 481,722,380.36 |
| Taxespayable | 2,324,970,284.55 | 1,612,884,069.81 |
| Otherpayable | 459,731,577.59 | 615,753,466.88 |
| Including：Interestspayable | 1,934,166.66 | |
| Dividendspayable | 28,163,719.84 | 28,163,719.84 |
| Handlingchargesandcommissionspayable | ||
| Reinsuranceaccountspayable | ||
| Liabilitiesheldforsale | ||
| Non-currentliabilitiesduewithinoneyear | 2,019,196,221.26 | 4,074,199,213.05 |
| Othercurrentliabilities | 362,713,948.90 | 436,920,270.99 |
| Totalcurrentliabilities | 12,533,651,991.85 | 12,004,359,001.08 |
| Non-currentliabilities: | ||
| Insurancecontractreserves | ||
| Long-termloans | 1,652,419,633.75 | 2,627,166,310.93 |
| Bondspayable | ||
| Including：Preferenceshares | ||
| Perpetualbonds | ||
| Leaseliabilities | 15,098,885.58 | 15,693,190.61 |
| Long-termpayables | ||
| Long-termpayrollpayables | ||
| Accruedliabilities | ||
| Deferredincome | 75,612,828.70 | 82,513,945.77 |
| Deferredtaxliabilities | 156,620,853.69 | 171,180,022.42 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 1,899,752,201.72 | 2,896,553,469.73 |
| Totalliabilities | 14,433,404,193.57 | 14,900,912,470.81 |
| Owners'equity | ||
| Sharecapital | 1,471,941,963.00 | 1,471,941,963.00 |
| Otherequityinstruments | ||
| Including:preferenceshares | ||
| Perpetualbonds | ||
| Capitalreserves | 5,443,306,054.55 | 5,439,328,102.53 |
| Less:treasurystock | 12,316,041.80 | 159,634,274.47 |
| Othercomprehensiveincome | 101,011,316.76 | 143,628,853.52 |
| Specialreserves | ||
| Surplusreserves | 1,471,941,963.00 | 1,471,941,963.00 |
| Generalriskreserve | ||
| Undistributedprofits | 43,122,737,412.36 | 41,413,087,028.16 |
| Totalequityattributabletoownersoftheparentcompany | 51,598,622,667.87 | 49,780,293,635.74 |
| Non-controllinginterests | 134,656,050.32 | 113,788,744.72 |
| Totalowners'equity | 51,733,278,718.19 | 49,894,082,380.46 |
| Totalliabilitiesandowners'equity | 66,166,682,911.76 | 64,794,994,851.27 |
Legalrepresentative：LiuMiaoPersoninchargeofaccountingaffairs：XieHongPersoninchargeofaccountingdepartment：SongYing
4.1.2Consolidatedincomestatement
Unit:CNY
| Item | Q12026 | Q12025 |
| 1.Totaloperatingrevenue | 8,025,174,114.21 | 9,352,165,445.50 |
| Including:Operatingrevenue | 8,025,174,114.21 | 9,352,165,445.50 |
| Interestincome | ||
| Earnedpremium | ||
| Feeandcommissionincome | ||
| 2.Totaloperatingcosts | 3,103,985,291.16 | 3,218,498,654.93 |
| Including:Costofsales | 1,138,148,060.14 | 1,261,650,794.98 |
| Interestexpense | ||
| Handlingchargesandcommissionexpenses | ||
| Refundedpremiums | ||
| Netpaymentsforinsuranceclaims | ||
| Netprovisionforinsurancecontracts | ||
| Bondinsuranceexpense | ||
| ReinsuranceExpenses | ||
| Taxesandsurcharges | 1,155,517,025.18 | 1,089,740,352.82 |
| Sellinganddistributionexpenses | 687,685,678.58 | 766,999,539.58 |
| Generalandadministrativeexpenses | 190,528,875.16 | 193,087,410.88 |
| ResearchandDevelopmentexpenses | 37,311,445.00 | 32,435,337.30 |
| Financialexpenses | -105,205,792.90 | -125,414,780.63 |
| Including：Interestexpenses | 32,357,136.81 | 52,002,581.19 |
| Interestincome | 143,068,170.68 | 179,345,923.67 |
| Plus:Otherincome | 17,146,770.87 | 19,202,006.29 |
| Investmentincome("-"forlosses) | 21,992,973.63 | -372,207.37 |
| Including:incomefrominvestmentinassociatesandjointventures | 41,245,181.77 | 35,884,043.67 |
| Incomefromthederecognitionoffinancialassetsmeasuredatamortizedcost | ||
| Foreignexchangegains("-"forlosses) | ||
| Netgainonexposurehedges |
| (“-”forlosses) | ||
| Gainsfromthechangesinfairvalues(“-”forlosses) | 13,785,989.44 | 4,135,698.87 |
| Creditimpairmentlosses(“-”forlosses) | -633,623.85 | -1,320,090.80 |
| Impairmentlosses(“-”forlosses) | ||
| Gainsfromdisposalofassets("-"forlosses) | ||
| 3.Operatingprofits("-"forlosses) | 4,973,480,933.14 | 6,155,312,197.56 |
| Plus:non-operatingincome | 8,526,408.11 | 1,402,410.38 |
| Less:non-operatingexpenses | 624,923.57 | 27,000,100.00 |
| 4.Totalprofitsbeforetax("-"fortotallosses) | 4,981,382,417.68 | 6,129,714,507.94 |
| Less:incometaxexpenses | 1,251,317,873.13 | 1,517,908,446.03 |
| 5.Netprofit("-"fornetloss) | 3,730,064,544.55 | 4,611,806,061.91 |
| 5.1Byoperatingcontinuity | ||
| 5.1.1Netprofitfromcontinuingoperation("-"forlosses) | 3,730,064,544.55 | 4,611,806,061.91 |
| 5.1.2Netprofitfromdiscontinuedoperation("-"forlosses) | ||
| 5.2Byownership | ||
| 1)Attributabletoownersoftheparentcompany | 3,708,450,417.95 | 4,592,780,509.90 |
| 2)Attributabletonon-controllinginterests | 21,614,126.60 | 19,025,552.01 |
| 6.Netoftaxfromothercomprehensiveincome | -43,280,338.29 | -5,638,274.59 |
| Netoftaxfromothercomprehensiveincometotheowneroftheparentcompany | -42,520,384.76 | -6,007,836.72 |
| 6.1Othercomprehensiveincomecannotbereclassifiedintotheprofitandloss: | -42,612,673.60 | -4,737,889.70 |
| 1)Remeasurethevariationofnetindebtednessornetassetofdefinedbenefitplans | ||
| 2)Shareinothercomprehensiveincomethatcannotbeclassifiedintoprofitandlossunderequitymethod | 947,279.91 | 568,471.73 |
| 3)Changesinfairvalueofinvestmentsinotherequityinstruments | -43,559,953.51 | -5,306,361.43 |
| 4)Changesinfairvalueofthecompany’screditrisks | ||
| 5)Other | ||
| 6.2Othercomprehensiveincomethatwillbereclassifiedintotheprofitandloss | 92,288.84 | -1,269,947.02 |
| 1)Shareinothercomprehensiveincomethatwillbeclassifiedintoprofitandlossunderequitymethod | 1,020,862.73 | -1,721,666.73 |
| 2)Changesinfairvalueofinvestmentsinotherdebtobligations | ||
| 3)Othercomprehensiveincomearisingfromthereclassificationoffinancialassets | ||
| 4)Allowanceforcreditimpairmentsininvestmentsinotherdebtobligations | ||
| 5)Reserveforcash-flowhedge | ||
| 6)Balancearisingfromthetranslationofforeigncurrencyfinancialstatements | -928,573.89 | 451,719.71 |
| 7)Others |
| Netoftaxfromothercomprehensiveincometonon-controllinginterests | -759,953.53 | 369,562.13 |
| 7.Totalcomprehensiveincome | 3,686,784,206.26 | 4,606,167,787.32 |
| Totalcomprehensiveincomeattributabletoownersoftheparentcompany | 3,665,930,033.19 | 4,586,772,673.18 |
| Totalcomprehensiveincomeattributabletonon-controllinginterests | 20,854,173.07 | 19,395,114.14 |
| 8.Earningspershare | ||
| (1)Basicearningspershare | 2.52 | 3.13 |
| (2)Dilutedearningspershare | 2.52 | 3.13 |
Legalrepresentative：LiuMiaoPersoninchargeofaccountingaffairs：XieHongPersoninchargeofaccountingdepartment：SongYing
4.1.3Consolidatedstatementofcashflows
Unit:CNY
| Item | Q12026 | Q12025 |
| 1.Cashflowsfromoperatingactivities | ||
| Cashreceivedfromsaleofgoodsandrenderingofservices | 8,884,785,094.77 | 9,867,424,870.77 |
| Netincreaseincustomerbankdepositsandplacementfrombanksandotherfinancialinstitutions | ||
| Netincreaseinloansfromcentralbank | ||
| Netincreaseinloansfromotherfinancialinstitutions | ||
| Premiumsreceivedfromoriginalinsurancecontracts | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseindepositsandinvestmentsfrompolicyholders | ||
| Cashreceivedfrominterest,handlingchargesandcommissions | ||
| Netincreaseinplacementsfromotherfinancialinstitutions | ||
| Netcapitalincreaseinrepurchasebusiness | ||
| Netcashreceivedfromcustomerbrokeragedeposits | ||
| Refundsoftaxesandsurcharges | 370,144.17 | 3,362,081.35 |
| Cashreceivedfromotheroperatingactivities | 123,252,413.56 | 206,201,999.62 |
| Subtotalofcashinflowsfromoperatingactivities | 9,008,407,652.50 | 10,076,988,951.74 |
| Cashpaidforgoodspurchasedandservicesreceived | 864,131,594.73 | 1,136,400,189.39 |
| Netincreaseinloansandadvancestocustomers | ||
| Netincreaseindepositsincentralbankandotherbanksandfinancialinstitutions | ||
| Cashpaidfororiginalinsurancecontractclaims | ||
| Netincreaseinlendingfunds | ||
| Cashpaidforinterests,handling |
| chargesandcommissions | ||
| Cashpaidforpolicydividends | ||
| Cashpaidtoandonbehalfofemployees | 514,555,808.10 | 562,542,987.16 |
| Cashpaidfortaxesandsurcharges | 2,431,320,039.02 | 4,150,762,783.00 |
| Cashpaidforotheroperatingactivities | 655,377,464.61 | 919,538,660.59 |
| Subtotalofcashoutflowsfromoperatingactivities | 4,465,384,906.46 | 6,769,244,620.14 |
| Netcashflowsfromoperatingactivities | 4,543,022,746.04 | 3,307,744,331.60 |
| 2.Cashflowsfrominvestingactivities | ||
| Cashreceivedfromdisposalofinvestments | 101,232,732.08 | 608,462,037.37 |
| Cashreceivedfromreturnsoninvestments | 305,240.13 | 31,271.10 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Cashreceivedfromotherinvestingactivities | ||
| Subtotalofcashinflowsfrominvestingactivities | 101,537,972.21 | 608,493,308.47 |
| Cashpaidtoacquireandconstructfixedassets,intangibleassetsandotherlong-termassets | 109,594,916.87 | 390,672,949.17 |
| Cashpaidforinvestments | 10,000,000.00 | 300,000,000.00 |
| Netincreaseinpledgeloans | ||
| Netcashpaidtoacquiresubsidiariesandotherbusinessunits | ||
| Cashpaidforotherinvestingactivities | ||
| Subtotalofcashoutflowsfrominvestingactivities | 119,594,916.87 | 690,672,949.17 |
| Netcashflowsfrominvestingactivities | -18,056,944.66 | -82,179,640.70 |
| 3.Cashflowsfromfinancingactivities | ||
| Cashreceivedfrominvestors | ||
| Including:cashreceivedbysubsidiariesfrominvestmentsbyminorityshareholders | ||
| Cashreceivedfromborrowings | 3,024,253,322.82 | |
| Cashreceivedfromotherfinancingactivities | ||
| Subtotalofcashinflowsfromfinancingactivities | 3,024,253,322.82 | |
| Cashpaidfordebtrepayments | 3,051,700,000.00 | 1,510,300,000.00 |
| Cashpaidfordistributionofdividendsandprofitsorpaymentofinterest | 2,035,480,667.35 | 2,094,436,129.07 |
| Including:dividendsandprofitspaidtominorityshareholdersbysubsidiaries | ||
| Cashpaidforotherfinancingactivities | 1,211,028.08 | 351,546.00 |
| Subtotalofcashoutflowsfromfinancingactivities | 5,088,391,695.43 | 3,605,087,675.07 |
| Netcashflowsfromfinancingactivities | -2,064,138,372.61 | -3,605,087,675.07 |
| 4.Effectoffluctuationinexchangerateoncashandcashequivalents | -7,340,315.58 | -735,723.56 |
| 5.Netincreaseincashandcashequivalents | 2,453,487,113.19 | -380,258,707.73 |
| Plus:balanceofcashandcashequivalentsatthebeginningoftheperiod | 26,925,093,961.82 | 33,367,668,014.46 |
| 6.Balanceofcashandcashequivalentsattheendoftheperiod | 29,378,581,075.01 | 32,987,409,306.73 |
4.2AdjustmentstoFinancialStatementItemsattheBeginningoftheYearoftheFirstImplementationoftheNewAccountingStandardsImplementedsince2026
□Applicable?N/A
4.3Auditor’sreportWhetherthefinancialstatementsofthisreporthavebeenauditedbyanauditor
□Yes?NoThesaidfinancialstatementsareunauditedbyanauditor.
TheBoardofDirectorsofLuzhouLaojiaoCo.,Ltd.
April29,2026