重庆啤酒：重庆啤酒股份有限公司2024年年度报告

Important Notice I.The Board of Directors, the Board of Supervisors, and the directors, supervisors and seniormanagementof the Company guarantee that the information of the AnnualReport is true, accurate and complete andthere are no false representations, misleading statements or material omissions, and assume individual andjoint liabilities to the information contained herein. II.All Directors of the Company attended theBoard meeting. III.Pan-China Certified Public Accountants LLP (Special General Partnership)has issuedan auditor’sreport with an unqualified opinionto theCompany. IV.João Miguel Ventura Rego Abecasis, the person-in-charge of the Company, Chin Wee Hua, the person-in-charge of accounting work, and Liu Liping, the person-in-charge of the accounting department (head ofthe accounting department) hereby declare their guarantees for the authenticity, accuracy and completenessof the financial report in the Annual Report. V.Plans on profit distribution or conversion of capital reserve to increase share capital in the currentreporting period deliberated and approved by the Board of Directors The Company intends to distribute cash dividends to all shareholders based on the total share capital as of the equityregistration date for the 2024 annual profit distribution. Cash dividends of0.90yuan (tax inclusive)per sharewillbe distributed. As of December 31, 2024, the Company’s total share capital was 483,971,198 shares and a total ofcash dividend of435,574,078.20yuan (tax inclusive) will be distributed on such basis. Previously, for the 2024interim period, the Company distributed a cash dividend of 1.50 yuan (tax inclusive) per share to all shareholders,totaling 725,956,797.00 yuan (tax inclusive). Accordingly, the total cash dividend for 2024 is1,161,530,875.20yuan (tax inclusive), accounting for 104.21% of the net profit attributable to shareholders of the Company in 2024. If there is any change in the Company’s total share capital before the equity registration date for the 2024 annualprofit distribution, the distribution ratio per share will remain unchanged, with corresponding adjustments to thetotal distribution amount. The above profit distribution plan is subject to approval by the Company’s shareholders’meeting before implementation. VI.Risk statement with respect to forward-looking statements √ Applicable□ Not applicableForward-looking statements,includingfuture plans, contained in this report do not constituteactualcommitmentsmade bythe Company to investors.Investors should be aware of investmentrisks. VII.Is there any fund occupied by the controlling shareholder and its related parties for nonoperationalpurposes?No VIII.Is there any external guarantee made in violation of required decision-making procedures?No IX.Are there more than half of the directors who cannot guarantee the authenticity, accuracy andcompleteness of the annual report disclosed by the Company?No X.Notice of material risks The Company has describedrelevant potentialrisks in this report.For details, please refer to“VI. Discussion andAnalysis on the Future Development of the Company”under Section IIIof this Report. XI.Others □ Applicable√ Not applicable CONTENTS SECTION IDEFINITIONS...........................................................................................................................5SECTION IICOMPANY PROFILEANDPRINCIPALFINANCIAL INDICATORS.............................5SECTION IIIMANAGEMENT DISCUSSION AND ANALYSIS..............................................................10SECTION IVCORPORATE GOVERNANCE.............................................................................................35SECTION VENVIRONMENTAL AND SOCIAL RESPONSIBILITY....................................................57SECTION VIIMPORTANT MATTERS.......................................................................................................66SECTION VIICHANGES IN SHARES ANDPARTICULARS OFSHAREHOLDERS..........................89SECTION VIIIINFORMATION ON PREFERREDSHARES.....................................................................95SECTION IXPARTICULARS OFBONDS..................................................................................................95SECTION XFINANCIAL REPORT............................................................................................................96 SECTION IDEFINITIONS I. Definitions In this Report,unless the context otherwise requires,the following words shall have the following meanings: SECTION IICOMPANY PROFILE AND PRINCIPAL FINANCIALINDICATORS I.CorporateInformation II.Contact Persons and Contact Information III.Basic Information IV.Place of Information Disclosure and Document Inspection V.Stock Listing VI.Other RelevantInformation Monetary unit: RMB Remarks on key accounting data and financial indicators in the past three years √ Applicable □ Not Applicable The Ministry of Finance issued the“Interpretation of China AccountingStandards f