泸州老窖：2025年第三季度报告（英文）

LuzhouLaojiaoCo.,Ltd. Q32025Report LuzhouLaojiaoCo.,Ltd.(hereinafterreferred toasthe“Company”)and allthe membersof theCompany’sBoardofDirectorsherebyguaranteethatthecontentsofthisReportaretrue,accurateandcompleteandfreeofanymisrepresentations,misleadingstatementsormaterialomissions. ImportantStatements: 1.TheBoardofDirectorsaswellasdirectorsandseniormanagementguaranteethattheinformationpresentedinthisreportisfreeofanyfalserecords,misleadingstatementsormaterialomissions,andshallindividuallyandtogetherbelegallyliablefortruthfulness,accuracyandcompletenessofitscontents. 2.TheresponsiblepersonfortheCompany,theresponsiblepersonforaccountingworkandtheresponsiblepersonfortheCompany’sfinancialaffairs(AccountingSupervisor)havewarrantedthatthefinancialstatementsinthisreportaretrue,accurateandcomplete. 3.Whetherthefinancialstatementsofthisreporthavebeenauditedbyanauditor □YesNo ThisreporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail. 1.Keyfinancialinformation 1.1Keyaccountingdataandfinancialindicators WhethertheCompanyperformedaretroactiveadjustmenttoorrestatementofaccountingdata. 1.2Non-recurringgainsandlosses Applicable□N/A Unit:CNY Otheritemsthatmeetthedefinitionofnon-recurringgain/loss: ApplicableN/A Nosuchcasesforthereportingperiod. Explainthe reasons if the Company classifies any non-recurring gain/loss item mentioned in theExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-RecurringGainsandLossesasarecurringgain/lossitem. ApplicableN/A Nosuchcasesforthereportingperiod. 1.3Changesinkeyfinancialdataandindicatorsandreasonsforthechanges ApplicableN/A A.The closing balance of held-for-trading financial assets decreased by CNY 984,561,704.91comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof58.11%.Itwasmainlyduetoadecreaseinthepurchaseofwealthmanagementproductsandtheredemptionsuponmaturityofwealthmanagementproductsinthecurrentperiod.B.TheclosingbalanceofaccountsreceivablesfinancingdecreasedbyCNY598,274,183.67comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof33.20%.Itwasmainlyduetothediscountingofnotesandthehonoringofduenotesinthecurrentperiod.C.Theclosingbalance ofprepaymentincreasedbyCNY38,677,620.33comparedtothe openingbalanceat the beginning of the year,indicating an increase of 31.22%.It was mainly due to theincreasedprepaymenttosuppliersforadvertising. D.TheclosingbalanceofothercurrentassetsdecreasedbyCNY206,848,338.13comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof85.80%.Itwasmainlyduetotheoffsettinginthecurrentperiodoftheopeningamountofoverpaidtax. E.TheclosingbalanceofconstructioninprogressincreasedbyCNY545,311,852.79comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof67.55%.ItwasmainlyduetotheincreasedinvestmentsinconstructionprojectsinprogresssuchastheTechnicalUpgradeProjectofIntelligentBrewinginthecurrentperiod. F.Theclosingbalanceofothernon-currentassetsincreasedbyCNY276,536,953.01comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof67.89%.Itwasmainlyduetothepaymentfor long-term assets—the Chengdu Innovation and Development Center Building—in thecurrentperiod. G.TheclosingbalanceoftaxespayabledecreasedbyCNY1,463,460,434.51comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof45.25%.Itwasmainlyduetothepaymentoftheopeningtaxespayableinthecurrentperiod. H.TheclosingbalanceofotherpayabledecreasedbyCNY283,921,249.39comparedtotheopeningbalanceat the beginning of the year,indicating a decrease of 32.50%.It was mainly due to theunlockingofthe restricted shareincentiveplan,resulting inadecrease inliabilities recognizedforrepurchaseobligations. I.Theclosingbalanceofnon-currentliabilitiesduewithinoneyearincreasedbyCNY1,297,106,329.87comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof39.59%.Itwasmainlyduetothereclassificationoflong-termloansduewithinoneyear. J.The closing balance of long-term loans decreased by CNY 4,060,900,000.00 compared to theopeningbalanceatthebeginningoftheyear,indicatingadecreaseof64.67%.Itwasmainlyduetotherepaymentofloansandthereclassificationoflong-termloanstonon-currentliabilitiesduewithinoneyear. K.TheclosingbalanceoftreasurystockdecreasedbyCNY185,360,249.28comparedtotheopeningbalanceatthebeginningoftheyear,indicatingadecreaseof53.62%.Itwasmainlyduetotherelevantreversalasaresultoftheunlockingofrestrictedsharesinthecurrentperiod. L.TheclosingbalanceofothercomprehensiveincomeincreasedbyCNY39,900,966.34 comparedtotheopeningbalanceatthebeginningoftheyear,indicatinganincreaseof47.37%.Itwasmainlyduetotheincreasedfairvalueofequityinvestmentsinthecurrentperiod. M.FinancialexpensesinthecurrentQ1-Q3perioddecreasedbyCNY143,083,151.84comparedtothesameperiod of last year.It was mainly due to the decreased bond interest expenses andreclassificationofbilldiscountingexpensesinthe