五 粮 液：2024年年度报告（英文版）

Annual Report 2024 Chairman of the Board: Zeng Congqin Part IImportant Notes, Table of Contents and Definitions 1. The Board of Directors (or the“Board”),the Supervisory Committee as well as the directors,supervisors and senior management of Wuliangye Yibin Co., Ltd. (hereinafter referred to as the“Company”)hereby guarantee that the contents of this Report are true, accurate and complete andfree of any misrepresentations, misleading statements or material omissions, and collectively andindividually accept legal responsibility for such contents. 2. ZengCongqin, 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. Eleven directors were supposed to attend the board meeting for the review of this Report.Eight of them were present at the meeting in person while Vice Chairman of the Board Mr. Hua Tao,Director Mr. Xiao Hao and Independent Director Mr. Xie Zhihua voted by way of telecommunicationdue to work reasons. 4. Any future plans, development strategies and other forward-looking statements mentioned inthis Report shall not be considered as promises to investors for the reason of their uncertainty.Investors are kindly advised to invest wisely. The Company has disclosed in this Report the possiblerisks. And investors are reminded to exercise caution when making investment decisions. 5. The Board of Directors has approved a cash dividend of RMB31.69 (tax inclusive) per 10shares to shareholders based on the total 3,881,608,005 shares held by them, with no bonus issuefrom either profit or capital reserves. 6. 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 Discussionand Analysis.............................................................................10Part IV Corporate Governance......................................................................................................31Part V Environmental and Social Responsibility..........................................................................49Part VI Significant Events...............................................................................................................53Part VII Share Changes and Shareholder Information...............................................................57Part VIII Preference Shares............................................................................................................63Part IX Bonds...................................................................................................................................63Part X FinancialStatements...........................................................................................................64 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. The original copy of the Independent Auditor’s Report that has been stamped by the CPA firm,as well as signed and stamped by the relevant certified public accountants. 3. The originals of all the Company’s documents and announcements that were disclosed onChina Securities Journal, Shanghai Securities News and Securities Times during the Reporting Period. 4. The Annual Report of the Company. Definitions Part II Corporate Information and Key Financial Information I Corporate Information II Contact Information III Media for Information Disclosure and Place where this Report Is Lodged IV Change to Company Registered Information V Other Information The independent auditor appointed by the Company: The independent sponsor appointed by the Company to exercise constant supervision over the Company intheReporting Period:□ApplicableNot applicable The independent financial advisor appointed by the Company to exercise constant supervision over theCompany in the Reporting Period: □ApplicableNot applicable VI Key Financial Information Indicate whether there is any retrospectively restated datum in the table below.□YesNo Indicate whether the lower of the net profit before and after exceptional gains and losses of the Company wasnegative for the last three accounting years, or the latest independent auditor’s report indicated that there wasuncertainty about the continuityof the Company’s operations.□YesNo Indicate whether the lowest of the audited profit befo