五粮液：2025年半年度报告

Chairman of the Board: Zeng Congqin August 28, 2025 Part I Important Notes, Table of Contents and Definitions 1. The Board of Directors (or the“Board”) as well as the directors and senior management ofWuliangye Yibin Co., Ltd. (hereinafter referred to as the“Company”) hereby guarantee that thecontents of this Report are true, accurate and complete and free of any misrepresentations, misleadingstatements or material omissions, and collectively and individually accept legal responsibility forsuch contents. 2. Zeng Congqin, the Company’s legal representative, Zhang Xin, the Company’s ChiefFinancial Officer, and Liu Min, head of the Company’s accounting department, hereby guarantee thatthe financial statements carried in this Report are true, accurate and complete. 3. Ten directors were supposed to attend the board meeting for the review of this Report. Eightof them were present at the meeting in person while Mr. Han Chengke and Mr. Ding Nan voted byway of telecommunication for they were unable to be present due towork reasons. 4. The Company has no interim dividend plan, either in the form of cash or bonus issue. 5. This Report has been prepared in Chinese and translated into English. Should there be anydiscrepancies or misunderstandings between the two versions, the Chinese version shall prevail. Table of Contents Part I Important Notes, Table of Contents and Definitions...........................................................2Part II Corporate Information and Key Financial Information...................................................6Part III Management Discussion and Analysis...............................................................................9Part IV Environmental, Social and Governance Information.....................................................21Part V Significant Events................................................................................................................24Part VI Share Changes and Shareholder Information.................................................................30Part VII Bonds.................................................................................................................................34Part VIII Financial Statements.......................................................................................................35Part IX Other Reported Information...........................................................................................146 Documents Available for Reference The following documents are available for shareholders at the relevant department of theCompany: 1. The financial statements that have been signed and stamped by the legal representative, theChief Financial Officer, and the head of the accounting department. 2. All the Company’s documents and announcements that were disclosed on China SecuritiesJournal, Shanghai Securities News and Securities Times during the Reporting Period. 3. Interim Report 2025 of the Company. Definitions Part II Corporate Information and Key Financial Information I Corporate Information II Contact Information III Other Information 1. Contact Information of the Company Indicate whether any change occurred to the registered address, office address and their zip codes, websiteaddress, email address and other contact information of the Company in the Reporting Period.□ ApplicableNot applicable No change occurred to the said information in the Reporting Period, which can be found in Annual Report 2024. 2. Media for Information Disclosure and Place where this Report Is LodgedIndicate whether any change occurred to the information disclosure media and the place for lodging the Company’s periodic reports in the Reporting Period. □ ApplicableNot applicableThe website of the stock exchange, the media and other website where the Company’s periodic reports are disclosed, as well as the place for lodging such reports did not change in the Reporting Period. The said informationcan be found in Annual Report 2024. 3. Other Information Indicate whether any change occurred to other information in the Reporting Period.□ ApplicableNot applicable IV Key Financial Information Indicate whether there is any retrospectively restated datum in the table below.□ YesNo Note: This is primarily driven by a higher percentage of cash in payments received during the Reporting Period,while the same period of last year saw a higher percentage of bank acceptance bills instead. V Accounting Data Differences under China’s Accounting Standards for Business Enterprises(CAS) and International Financial Reporting Standards (IFRS) and Foreign AccountingStandards 1. Net Profit and Equity under CAS and IFRS □ ApplicableNot applicableNo difference for the Reporting Period. 2. Net Profit and Equity under CAS and Foreign Accounting Standards □ ApplicableNot applicableNo difference for the Reporting Period. VI Exceptional Gains and Losses Applicable □ Not applicable Unit: RMB Explanatory Ann