泸州老窖：2024年年度报告

Luzhou Laojiao Co., Ltd. 2024 Annual Report 【April 2025】 2024 Annual Report Section I Important Statements, Contents and Definitions The Board of Directors, Board of Supervisors,directors, supervisors and senior management guaranteethat the information presented in this report is free of any false records, misleading statements ormaterial omissions, and shall individually and together be legally liable for truthfulness, accuracyandcompleteness of its contents. Liu Miao, responsible person for the Company, Xie Hong, responsible person for accounting work andSongYing, responsible person for theCompany’sfinancialaffairs(AccountingSupervisor) havewarranted that the financial statements in this report are true, accurate and complete. Affected by risks, uncertainties and assumptions, the forward-looking statements concerning businessobjectives and future plans made in this report based on the subjective assumptions and judgments ofthe future policies and economic conditions may be significantly different from the actual results. Suchstatements shall not be considered as virtual promises of the Company to investors, and the investorsand relevant persons shall maintain adequate risk awareness and shall understand the differencesbetween plans, forecasts and commitments. In the annual report, the potential risks in the operation of the Company have been disclosed. Investorsare kindly reminded to pay attention to possible investment risks. The profit distribution plan approved by the board of directors: based on1,471,951,503shares, a cashdividend of CNY45.92(tax inclusive) will be distributed for every 10 existing shares held, 0 shares ofbonus shares (tax inclusive), and reserves would not be converted into share capital.On January 24,2025, the Company carried out the 2024 interim dividend payout of CNY 13.58 (tax inclusive) for every10 existing shares held, totaling CNY 1,998,910,141.07 (tax inclusive). If the said profit distribution planis approved at a general meeting of shareholders, the total cash dividend payout for 2024 would beCNY8,758,111,442.85(taxinclusive),accountingforapproximately65.00%ofthenetprofitsattributable to shareholders of the Company in 2024. This Report has been prepared in both Chinese and English. Should there be any discrepancies ormisunderstandings between the two versions, the Chinese version shall prevail. Contents Section I Important Statements, Contents and Definitions............................................2Section II Company Profile and Key Financial Results..................................................6Section III Management Discussion and Analysis........................................................12Section IVCorporate Governance..................................................................................52Section VEnvironmental and Social Responsibility....................................................82Section VI Significant Events.........................................................................................95Section VII Changes in Shares and Information about Shareholders.......................103Section VIIIPreferred Shares........................................................................................116Section IX Information about Bond..............................................................................116Section X Financial Report...........................................................................................122 Documents Available for Reference 1.FinancialstatementssignedandstampedbytheresponsiblepersonfortheCompany,theresponsible person for accounting work and the responsible person for the Company’s financial affairs(Accounting Supervisor); 2. The original of the auditor’s report with the seal of the accounting firm, and signed and stamped byCPAs; and 3. The originals of all company documents and announcements that are disclosed to the public duringthe reporting period. Definitions Section II Company Profile and KeyFinancial Results 1. Corporate information 2. Contact us 3. Information disclosure and place where the annual report is kept 4. Company registration and alteration 5. Other relevant information Sponsors engaged by the Company to continuously perform its supervisory function during thereporting period□ ApplicableN/A Financial adviser engaged by the Company to continuously perform its supervisory function duringthe reporting period. ApplicableN/A 6. Key accounting data and financial indicators Whether the Company performed a retroactive adjustment to or restatement of accounting data. Whether the lower of the net profits before and after non-recurring gains and losses was negative forthe last three accounting years, and the latest auditor’s report indicated that there was uncertaintyabout the Company’s ability to continue as a going concern YesNo Whether the lowest of the audited total profits before tax, net profits, and net profits before non-recurring gains and losses