泸州老窖：2026年半年度报告

2026InterimReport 【August2026】 SectionIImportantStatements,ContentsandDefinitions TheBoardofDirectorsaswellasdirectorsandseniormanagementguaranteethattheinformationpresentedinthisreportisfreeofanyfalserecords,misleadingstatementsormaterialomissions,andshallindividuallyandtogetherbelegallyliablefortruthfulness,accuracyandcompletenessofitscontents. LiuMiao,responsiblepersonfortheCompany,XieHong,responsiblepersonforaccountingworkandSongYing,responsiblepersonfortheCompany’saccountingdepartment(accountingsupervisor)havewarrantedthatthefinancialstatementsinthisreportaretrue,accurateandcomplete. Allthedirectorsattendedtheboardmeetingtodeliberatethisreportbythemselves. Affectedby risks,uncertainties and assumptions,the forward-looking statements concerningbusinessobjectivesandfutureplansmadeinthisreportbasedonthesubjectiveassumptionsandjudgmentsofthefuturepoliciesandeconomicconditionsmaybesignificantlydifferentfromtheactualresults.SuchstatementsshallnotbeconsideredasvirtualpromisesoftheCompanytoinvestors,andtheinvestorsandrelevantpersonsshallmaintainadequateriskawarenessandshallunderstandthedifferencesbetweenplans,forecastsandcommitments. Inthisreport,thepotentialrisksintheoperationoftheCompanyhavebeendisclosed.Investorsarekindlyremindedtopayattentiontopossibleinvestmentrisks. TheCompanyhasnointerimdividendplan,eitherintheformofcashorstock. ThisReporthasbeenpreparedinbothChineseandEnglish.Shouldtherebeanydiscrepanciesormisunderstandingsbetweenthetwoversions,theChineseversionshallprevail. Contents SectionIImportantStatements,ContentsandDefinitions.................................................2SectionIICompanyProfileandKeyFinancialResults........................................................6SectionIIIManagementDiscussionandAnalysis...............................................................10SectionIVGovernance,EnvironmentalandSocialInformation......................................32SectionVSignificantEvents......................................................................................................35SectionVIChangesinSharesandInformationaboutShareholders.............................44SectionVIIInformationaboutBond.........................................................................................52SectionVIIIFinancialReport......................................................................................................53 DocumentsAvailableforReference 1.Financial statements signed and stamped by the responsible person for the Company,theresponsibleperson for accounting work and the responsible person for the Company’s accountingdepartment(accountingsupervisor);and 2.Theoriginalsofallcompanydocumentsandannouncementsthataredisclosedtothepublicduringthereportingperiod. Definitions SectionIICompanyProfileandKeyFinancialResults 1.Corporateinformation 2.Contactus 3.OtherInformation 3.1.ContactInformationoftheCompany Whetheranychangeoccurredtotheregisteredaddress,officeaddressandtheirzipcodes,websiteaddress,emailaddressandothercontactinformationoftheCompanyinthereportingperiod. ApplicableN/A Nochangeoccurredtothesaidinformationinthereportingperiod,whichcanbefoundinthe2025AnnualReport. 3.2.Informationdisclosureandplacewheretheinterimreportiskept Whetheranychangeoccurredtotheinformationdisclosureandplacewheretheinterimreportiskept. ApplicableN/A Nochangeoccurredtothewebsiteofthestockexchange,mediaandotherwebsitesdesignatedbytheCompanyforinformationdisclosure,aswellastotheplacewherethediscloseddocumentsarekeptinthereportingperiod.Thesaidinformationcanbefoundinthe2025AnnualReport. 3.3.Otherinformation Whetheranychangeoccurredtootherinformationinthereportingperiod. ApplicableN/A 4.Keyaccountingdataandfinancialindicators WhethertheCompanyperformedaretroactiveadjustmenttoorrestatementofaccountingdata. YesNo 5.Differences in accounting data under domestic and overseas accountingstandards 5.1.DifferencesinthenetprofitsandnetassetsdisclosedinthefinancialreportspreparedundertheinternationalandChinaaccountingstandards ApplicableN/A Nosuchdifferencesforthereportingperiod. 5.2.DifferencesinthenetprofitsandnetassetsdisclosedinthefinancialreportspreparedundertheoverseasandChinaaccountingstandards ApplicableN/A Nosuchdifferencesforthereportingperiod. 6.Non-recurringprofitsandlosses 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. SectionIIIManagementDiscussionandAnalysis 1.Businessscopeinthereportingperiod TheCompanyoperateswithinthebaijiusubdivisionindustrywhichbelongstotheliquor&wine,beverageandrefinedteaproductionindustrywithspecializedbaijiuproductdesign,productionandsalesa