五 粮 液：2021年年度报告（英文版）

Chairman of the Board: Zeng Congqin 29 April 2022 Table of Contents Part I Important Notes and Definitions ...........................................................................................3Part II Corporate Information and Key Financial Information ...................................................5Part III Management Discussion and Analysis ...............................................................................9Part IV Corporate Governance ......................................................................................................34Part V Environmental and Social Responsibility..........................................................................56Part VI Significant Events...............................................................................................................63Part VII Share Changes and Shareholder Information ...............................................................69Part VIII Preference Shares............................................................................................................77Part IX Bonds ...................................................................................................................................77Part X Financial Statements ...........................................................................................................78Part XI Documents Available for Reference................................................................................198 Part I Important Notes 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.Zeng Congqin,the Company’s legal representative,Luo Wei,the Company’s ChiefFinancialOfficer,and Liu Hongxu,head of the Company’s accounting department,herebyguarantee that the financial statements carried in this Report are true, accurate and complete. 3. Eight directors were supposed to attend the board meeting for the review of this Report.Seven of them were present at the meeting in person while Independent Director Xie Zhihua votedby way of telecommunication for he was not able to be present due to travel restrictions caused bythe COVID-19 pandemic. 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 final cash dividend of RMB30.23 (tax inclusive) per10 shares to shareholders based on the total 3,881,608,005 shares held by them, with the totalamount to be distributed reaching RMB11.734 billion. 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. 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 inthe Reporting Period: 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. Note: The increased cash generated from operating activities was primarily driven by the low base ofproceeds from sale of goods and rendering of services last year due to the COVID-19 pandemic, as well as theincreased operating revenue, cash inflows from due bank acceptance notes, etc. in the current year. Indicate whether the lower of the net profit attributable to the listed company’s shareholders before and afterexceptional gains and losses was negative for the last three accounting years, and the latest independent auditor’sreport indicated that there was uncertainty about the Company’s ability to continue as a going concern. □ Yes √ No Indicate whether the lower of the net profit attributable to the listed company’s shareholders before and afterexceptional gains and losses was negative. □ Yes √ No VIIAccounting Data Differences under China’s Accounting Standards for BusinessEnterprises (CAS) and International