泸州老窖：2026年第一季度报告（英文）

LuzhouLaojiaoCo.,Ltd. Q12026Report LuzhouLaojiaoCo.,Ltd.(hereinafterreferred toasthe“Company”)and allthe membersof theCompany’sBoardofDirectorsherebyguaranteethatthecontentsofthisReportaretrue,accurateandcompleteandfreeofanymisrepresentations,misleadingstatementsormaterialomissions. ImportantStatements: 1.The Board of Directors,directors,and senior management guarantee that the informationpresentedinthisreportisfreeofanyfalserecords,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 reasonsifthe Companyclassifies anynon-recurring gain/loss itemmentioned intheExplanatoryAnnouncementNo.1onInformationDisclosureforCompaniesOfferingTheirSecuritiestothePublic-Non-RecurringGainsandLossesasarecurringgain/lossitem. □ApplicableN/A Nosuchcasesforthereportingperiod. 1.3Changesinkeyfinancialdataandindicatorsandreasonsforthechanges ApplicableN/A A.TheclosingbalanceofaccountsreceivablesincreasedbyCNY12,899,070.79comparedtotheopeningbalance,indicatinganincreaseof212.31%.Itwasmainlyduetotheincreasedreceivablesarisingfromoverseasbaijiusaleswithinthecontractterm. B.TheclosingbalanceofaccountsreceivablesfinancingdecreasedbyCNY626,118,828.36comparedtotheopeningbalance,indicatingadecreaseof42.69%.Itwasmainlyduetothediscountingofnotesandthehonoringofduenotesinthecurrentperiod.C.Theclosingbalance ofprepaymentincreasedbyCNY97,462,139.48comparedtothe openingbalance,indicatinganincreaseof66.94%.Itwasmainlyduetotheincreasedprepaymenttosuppliersforadvertising.D.TheclosingbalanceofothercurrentassetsdecreasedbyCNY150,127,011.38comparedtotheopeningbalance,indicatingadecreaseof34.88%.Itwasmainlyduetotheoffsettinginthecurrentperiodoftheopeningoverpaidtax.E.The closing balance of short-term loans increased by CNY 3,000,000,000.00 compared to theopeningbalance.It was mainly due to a one-year bank loan arranged to meet the Company’sproductionandoperationneeds.F.TheclosingbalanceofemployeebenefitspayabledecreasedbyCNY163,866,529.65comparedtotheopeningbalance,indicatingadecreaseof34.02%.Itwasmainlyduetothesettlementinthecurrentperiodofperformance-basedpayforlastyear.G.TheclosingbalanceoftaxespayableincreasedbyCNY712,086,214.74comparedtotheopeningbalance,indicating an increase of 44.15%.It was mainly due to the quarter-on-quarter growth ofrevenueinthefirstquarterof2026,leadingtoanincreaseincurrenttaxespayable.H.The closing balance of non-current liabilities due within one year decreased by CNY2,055,002,991.79comparedtotheopeningbalance,indicatingadecreaseof50.44%.Itwasmainlyduetotherepaymentofdueloans. I.Theclosingbalanceoflong-termloansdecreasedbyCNY974,746,677.18comparedtotheopeningbalance,indicatingadecreaseof37.10%.Itwasmainlyduetothereclassificationoflong-termloansduewithinoneyear. J.TheclosingbalanceoftreasurystockdecreasedbyCNY147,318,232.67comparedtotheopeningbalance,indicatingadecreaseof92.28%.Itwasmainlyduetotherelevantreversalasaresultoftheunlockingofrestrictedsharesinthecurrentperiod. K.InterestexpenseinthecurrentperioddecreasedbyCNY19,645,444.38comparedtothesameperiodoflastyear,indicatingadecreaseof37.78%.Itwasmainlyduetothedecreasedinterestexpenditureonloansinthecurrentperiod. L.InvestmentincomeinthecurrentperiodincreasedbyCNY22,365,181.00comparedtothesameperiodoflastyear.ItwasmainlyduetotheincreasedearningsofinvesteeHuaxiSecuritiesandthedecreasednotediscountexpenses. M.Non-operatingexpenses inthecurrentperioddecreasedbyCNY26,375,176.43comparedtothesameperiodoflastyear,indicatingadecreaseof97.69%.Itwasmainlyduetothedecreaseddonationexpensesinthecurrentperiod. N.NetcashflowsfromoperatingactivitiesinthecurrentperiodincreasedbyCNY1,235,278,414.44comparedtothesameperiodoflastyear,indicatinganincreaseof37.35%.Itwasmainlyduetothedecreasedcashoutflowsfromoperatingactivities. O.Net cash flows from investing activities in the current period increased by CNY 64,122,696.04comparedtothesameperiodoflastyear.Itwasmainlyduetothedecreasedpaymentsforlong-termassetandwealthmanagementproductinvestmentsinthecurrentperiod. P.NetcashflowsfromfinancingactivitiesinthecurrentperiodincreasedbyCNY1,540,949,302.46comparedtothesameperiodoflastyear.Itwasmainlyduetotheone-yea