Securities Announcement No.: P 132-60002 {
Announcement of 2021 annual performance express
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
The main financial data of 2021 contained in this announcement are preliminary accounting data, which have not been audited by an accounting firm. The specific data shall be subject to the data disclosed in the company’s 2021 annual report, and investors are reminded of investment risks.
Important content tips
In December 2020, Chongqing Brewery Co.Ltd(600132) (hereinafter referred to as “the company” or “the company”) completed major asset restructuring. According to the accounting standards for Business Enterprises No. 33 – consolidated financial statements, The company injected assets into its holding subsidiary Carlsberg Chongqing Brewery Co.Ltd(600132) Co., Ltd. (formerly Chongqing Jianiang Beer Co., Ltd., hereinafter referred to as “Carlsberg heavy beer”), and the corresponding performance was still included in the net profit attributable to the shareholders of the listed company in 2020 according to the original proportion (100%) (rather than the company’s shareholding proportion of Carlsberg heavy beer of 51.42%). From 2021, the performance will be included in the net profit attributable to the shareholders of the listed company according to the company’s shareholding ratio of Carlsberg heavy beer (51.42%).
1、 Main financial data and indicators in 2021
Unit: RMB 10000
Compared with the same period of the previous year and the same period of the current reporting period
Items in the pro forma statement of the current legal disclosure period (number of legal Disclosures (number of pro forma statements)
Data increase / decrease (data increase / decrease) (data)
Dynamic amplitude (%)
Total operating income 1311931.07 1094163.12 1094163.12 19.90 19.90
Operating profit 294753.88 196403.68 50.08 50.08
Total profit 294108.00 213078.48 213078.48 38.03 38.03
Attributable to listed companies
Net profit of shareholders of the company 116624.34 107683.85 84010.53 8.30 38.82 profit deduction attributable to shareholders of listed companies
114285.34 47361.50 64884.14 141.30 76.14 net profit of non recurring profit and loss basic earnings per share
2.41 2.23 1.74 8.30 38.82 (yuan)
Weighted average net assets increased by 54.14, decreased by 49.38, 99.69, 45.55, 149.07
Yield [note] percentage points
Comparison of this report comparison of this report at the end of this report at the beginning of this report at the beginning of this report at the beginning of this report at the beginning of this report (number of legal Disclosures (number of disclosure data in the preparation report, increase and decrease data in the table) Change range (%) (%)
Total assets 1153280.91 959537.31 959537.31 20.19 20.19
Attributable to listed companies
Rights and interests of all shareholders of the company 175454.51 58528.92 58528.92 199.77 199.77 [note]
Share capital 48397.12 48397.12 48397.12 —
Attributable to listed companies
3.63 1.21 1.21 199.77 199.77 net assets per share of shareholders of the company note: 1. The beginning amount of this report (legally disclosed data) is the same as the end of the previous year legally disclosed. The opening amount of this report (data in the preparation report) is the same as the end of the previous year.
2. The above data is filled in with consolidated report data.
3. Under the data caliber of the pro forma statement, because its preparation basis is based on the assumption that the major asset restructuring has been implemented and completed on January 1, 2019, that is, the structure after the completion of the above major asset restructuring transaction already exists on January 1, 2019.
Therefore, in business combinations under the same control, the impact of the difference between the assessed value and the book value offsetting the retained earnings will be reflected at the beginning of 2019.
2、 Notes on Application of relevant accounting standards
In December 2020, the company completed major asset restructuring. Therefore, in 2020, the target companies Carlsberg (China) beer industry and Trade Co., Ltd., Carlsberg beer enterprise management (Chongqing) Co., Ltd., Carlsberg beer (Guangdong) Co., Ltd., Kunming Huashi Beer Co., Ltd., Xinjiang Wusu Beer Co., Ltd. and Ningxia Xixia Jianiang Beer Co., Ltd. will be included in the scope of consolidated statements.
Under the statutory disclosure data standard, according to the accounting standards for Business Enterprises No. 33 – consolidated financial statements, the performance corresponding to the assets of Carlsberg heavy beer, the holding subsidiary of the company, will still be included in the net profit attributable to the shareholders of the listed company in 2020 according to the original proportion (100%) (rather than the company’s shareholding proportion of Carlsberg heavy beer 51.42%). From 2021, the performance will be included in the net profit attributable to the shareholders of the listed company according to the company’s shareholding ratio of Carlsberg heavy beer (51.42%).
According to the provisions of explanatory Announcement No. 1 on information disclosure of companies offering securities to the public – non recurring profits and losses (2008), the current net profits and losses of subsidiaries from the beginning of the period to the merger date arising from business merger under the same control belong to non recurring profits and losses. Therefore, the 2020 performance of the target company included in the consolidation scope is regarded as non recurring profit and loss. From 2021, after the daily operating performance of the target company is included in the consolidation scope, it will no longer be regarded as non recurring profit and loss.
Under the data caliber of the pro forma statement, because its preparation basis is based on the assumption that the major asset restructuring has been implemented and completed on January 1, 2019, that is, the structure after the completion of the above major asset restructuring transaction already exists on January 1, 2019. The performance corresponding to the company’s injection of assets into Carlsberg heavy beer, a holding subsidiary, will be included in the net profit attributable to the shareholders of the listed company according to the company’s shareholding ratio of Carlsberg heavy beer (51.42%) from 2019. Under the assumption of the preparation basis of the reference statement, the daily operating performance of the target company will not be regarded as non recurring profit and loss after being included in the consolidation scope from 2019.
3、 Description of operating performance and financial status
(I) comparison of statutory disclosure data in the reporting period with the data in the pro forma statements in the same period of last year
1. Operation description
During the reporting period, the company achieved a total operating income of 13119310700 yuan, an increase of 19.90% over the same period of last year; The operating profit was 2947.5388 million yuan, an increase of 50.08% over the same period last year; The total profit was 2941.08 million yuan, an increase of 38.03% over the same period last year; The net profit attributable to the listed company in the same period of last year was 11682.38%, an increase of 11.682 million yuan over the same period of last year; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 1142.8534 million yuan, an increase of 76.14% over the same period of last year; The basic earnings per share was 2.41 yuan, an increase of 38.82% over the same period last year; The weighted average return on net assets was 99.69%, down 49.38 percentage points from the same period last year.
2. Statement of financial position
At the end of the reporting period, the total assets of the company were 11532.8091 million yuan, an increase of 20.19% over the end of the same period of last year; The owner’s equity attributable to shareholders of listed companies was 1754.5451 million yuan, an increase of 199.77% over the end of the same period of last year; The share capital was 483.9712 million yuan, unchanged from the end of the same period last year; The net assets per share attributable to the shareholders of the listed company was 3.63 yuan, an increase of 199.77% over the end of the same period last year.
3. Description of items with large changes
The statutory disclosure data in the reporting period increased significantly compared with the data in the pro forma statements in the same period of last year. The main reasons are:
First, the impact of main business.
The company’s main business continued to grow healthily in the current period. First of all, the company’s beer sales in this period increased by about 15% over the same period of last year, thanks to the intensive cultivation and expansion of “Yangfan 22” project. Secondly, the company continues to promote the high-end business strategy of products and improve the overall profitability and market competitiveness of the company. Finally, the company continued to promote the organizational structure optimization project and carried out the savings brought by the operation cost management project, offsetting some of the adverse effects brought by the rising cost.
Second, the impact of non operating profit and loss.
In the same period of last year, the company disposed of four subsidiaries without actual business of Xinjiang beer group Huocheng Beer Co., Ltd., Xinjiang Wusu Beer (Kashi) Co., Ltd., Xinjiang Wusu Beer (Qitai) Co., Ltd. and Xinjiang Wusu Beer Huocheng wheat Making Co., Ltd., increasing the total profit of about 121 million yuan in 2020. At the same time, Xinjiang will no longer pay basic medical insurance premiums for retired employees who have reached the minimum payment period. The company’s plan change of basic medical insurance in the defined benefit plan is recognized as the past service cost, which increases the total profit of the company in 2020 by about 196 million yuan.
In addition, other non operating gains and losses are mainly government subsidy income and structural deposit income, and there is no significant difference between the two periods.
(II) comparison of statutory disclosure data in the reporting period with that in the same period of last year
1. Operation description
During the reporting period, the company achieved a total operating income of 13119310700 yuan, an increase of 19.90% over the same period of last year; The operating profit was 2947.5388 million yuan, an increase of 50.08% over the same period last year; The total profit was 2941.08 million yuan, an increase of 38.03% over the same period last year; The net profit attributable to shareholders of listed companies was 1166243400 yuan, an increase of 8.30% over the same period of last year; The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses was 1142.8534 million yuan, an increase of 141.30% over the same period of last year; The basic earnings per share was 2.41 yuan, an increase of 8.30% over the same period last year; The weighted average return on net assets was 99.69%, an increase of 54.14 percentage points over the same period last year.
2. Statement of financial position
At the end of the reporting period, the total assets of the company were 11532.8091 million yuan, an increase of 20.19% over the end of the same period of last year; The owner’s equity attributable to shareholders of listed companies was 1754.5451 million yuan, an increase of 199.77% over the end of the same period of last year; The share capital was 483.9712 million yuan, unchanged from the end of the same period last year; The net assets per share attributable to the shareholders of the listed company was 3.63 yuan, an increase of 199.77% over the end of the same period last year.
3. Description of major changes
1) The operating profit and total profit increased significantly during the reporting period. The main reasons are shown in III. (I) 3. 2) The net profit excluding non recurring profit and loss attributable to the shareholders of the listed company increased significantly in the reporting period, mainly due to the impact of the deduction standard of non operating profit and loss: the company completed major asset restructuring in December 2020, and the 2020 performance of the target company included in the consolidation scope was regarded as non recurring profit and loss. From 2021, the daily operating performance of the target company will no longer be regarded as non recurring profit and loss.
3) The significant increase in the weighted average return on net assets during the reporting period is mainly due to the completion of major asset restructuring by the company in December 2020. This transaction constitutes a business combination under the same control. According to the accounting standards for Business Enterprises No. 20 – business combination, “the assets and liabilities obtained by the combining party in business combination shall be measured according to the book value of the combined party on the combination date”, The difference between the assessed value and the book value offsets the retained earnings. This event will lead to a significant reduction in the owner’s equity attributable to the shareholders of the listed company at the end of 2020.
4、 Risk tips
This announcement
