Yantai Changyu Pioneer Wine Co., Ltd.
2021 Annual Report
Final 2022-01
April 2022
Contents
I、Important Notice, Contents and Definition......3
II、Brief Introduction for the Company and Main Financial Indicators ......6
III、Management Discussion and Analysis ......11
IV、Corporate Governance ......33
V、Environmental and Social Responsibility ...... 56
VI、Major issues ......59
VII、Changes in Shares and Shareholders’ Situation ...... 70
VIII、Related Situation of Preferred Shares ......79
IX、Related Situation of Bonds ......79
X、Financial Report ......79
I. Important Notice, Content and Definition
The board of directors，the board of Supervisors，directors, supervisors and senior executives of the
Company guarantee the truthfulness, accuracy and completeness of the contents contained in the
report with no false records, misleading statements or significant omissions, and undertake
individual and joint legal liabilities.
Mr. Zhou Hongjiang (Person in charge of the Company), Mr. Jiang Jianxun (Person in charge of
accounting work) and Ms. Guo Cuimei (Person in charge of accounting organ & Accountant in
charge) assure the truthfulness, accuracy and completeness of the financial report in the annual
report.
All directors have personally attended the meeting for deliberating the annual report.
Except for the following directors, other directors attended this board meeting for reviewing this
annual report in person
Name of director not attending Position of director not attending Reason of not attending the Name of
the meeting personally the meeting personally meeting personally entrustee
Aldino Marzorati Director Due to time conflict of work Zhou Hongjiang
Stefano Battioni Director Due to time conflict of work Leng Bin
Enrico Sivieri Director Due to time conflict of work Zhou Hongjiang
Forward-looking statements such as future plans and development strategies covered in this report
do not constitute a substantial commitment of the Company to investors. Investors are advised to
pay attention to investment risks.
About significant risks that may be faced in production and operation process, please refer to “(5)
Potential Risks” of “11. Expectation for the Company’s Future Development” in the “III.
Management Discussion and Analysis” of this report. Investors are advised to read carefully and
pay attention to investment risks.
The Company’s preliminary scheme of profit distribution deliberated and passed by the board of
directors this time is shown as following: Based on the Company’s total 685,464,000 shares, the
Company plans to pay CNY4.5 (including tax) in cash as dividends for every 10 shares to all
shareholders and send 0 bonus share (including tax); capital reserve will not be transferred to
equity.
Reference Documents
(1)The original of Annual Report autographed by the chairman.
(2)The Financial Statements autographed and signed by the chairman, chief accountant and
accountants in charge.
(3)The Prospectus and Public Offering Announcement for Stock B in 1997; The Prospectus and The
Shares’ Change & Public Offering Announcement for Stock A in 2000.
(4) The originals of all documents and announcements that the Company made public during the
report period in the newspapers designated by China Securities Regulatory Commission.
Definition
Definition Item Refers to Definition Content
Company/The Company Refers to Yantai Changyu Pioneer Wine Co., Ltd.
Changyu Group/Controlling Shareholder Refers to Yantai Changyu Group Co., Ltd.
CSRC Refers to China Securities Regulatory Commission
SSE Refers to Shenzhen Stock Exchange
KPMG Huazhen Refers to KPMG Huazhen LLP (Limited Liability Partnership)
CNY Refers to Chinese Yuan
II. Brief Introduction for the Company and Main Financial Indicators
1. Company’s information
Stock Abbreviation Changyu A, Changyu B Stock Code 000869, 200869
Stock Abbreviation after Alteration -
Place of Stock Listing Shenzhen Stock Exchange
Legal Name in Chinese 烟台张裕葡萄酿酒股份有限公司
Abbreviation of Chinese Name 张裕
Legal Name in English YANTAI CHANGYU PIONEER WINE COMPANY LIMITED
Abbreviation of English Name CHANGYU
Legal Representative Zhou Hongjiang
Registered Address 56 Dama Road, Yantai, Shandong, China
Postal Code of Registered Address 264000
Historical Change in Registered Address No
Office Address 56 Dama Road, Yanta
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