Jiangsu Yanghe Distillery Co., Ltd.
2020 Annual Report
April 2021
Section I Important Statements, Contents and Definitions
The board of directors, board of supervisors, directors, supervisors and senior management of Jiangsu
Yanghe Brewery Co., Ltd. (hereinafter referred to as the Company) hereby guarantee that the
information presented in this report is free of any false records, misleading statements or material
omissions, and shall individually and together be legally liable for truthfulness, accuracy and
completeness of its contents.
Mr. Zhang Liandong, responsible person for the Company, Mr. Yin Qiuming, responsible person for
accounting affairs and Mr. Zhao Qike, responsible person for accounting department (accounting
supervisor) have warranted that the financial statements in this report are true, accurate and complete.
All directors attended the board meeting to review this report.
The future plans and some other forward-looking statements mentioned in this report shall not be
considered as virtual promises of the Company to investors. Investors and people concerned should
maintain adequate risk awareness and understand the difference between plans, predictions and
promises. Investors are kindly reminded to pay attention to possible investment risks.
In the annual report, the possible risks in the operation of the Company are described in detail (see
9.Outlook for the future development of the Company in Section IV Performance Discussion and
Analysis). Investors are kindly reminded to pay attention to relevant content.
The profit distribution plan approved by the board of directors: based on total share capital participating
in the dividend on the registration date (excluding the repurchased shares held in the Company's
special repurchase securities account) when the profit distribution plan is implemented in the future, a
cash dividend of CNY 30.00 (tax inclusive) will be distributed for every 10 existing shares held, 0 shares
of bonus shares (tax inclusive), and reserves would not be converted into share capital.
The Company’s Chinese 2020 Annual Report was publicly disclosed on the Shenzhen Stock Exchange
and www.cninfo.com.cn on 29 April 2021. If there are any differences between the English version and
the Chinese one, please refer to the latter.
Contents
Section I Important Statements, Contents and Definitions ...... 2
Section II Company Profile and Key Financial Results...... 5
Section III Business Profile...... 9
Section IV Performance Discussion and Analysis ...... 12
Section V Significant Events ...... 36
Section VI Changes in Shares and Information about Shareholders ..... 98
Section VII Information about Preference Shares...... 106
Section VIIIInformation about Convertible Bonds ...... 107
Section IX Profiles of Directors, Supervisors, Senior Management and
Employees ...... 108
Section X Corporate Governance ...... 121
Section XI Information about Corporate Bond ...... 128
Section XII Financial Report...... 129
Section XIII Documents Available for Reference ...... 257
Definitions
Term Reference Definition
The Company, This Company, Yanghe Refer to Jiangsu Yanghe Distillery Co., Ltd.
Yanghe Group, Controlling shareholder Refer to Jiangsu Yanghe Group Co.,Ltd.
The current year, In the reporting period Refer to 1 Jan. 2020 to 31 Dec. 2020
The report Refer to 2020 Annual Report
Yuan, Ten thousand yuan, A hundred Refer to CNY 0.00, CNY 10,000.00,CNY
million yuan 100,000,000.00
The shareholders' meeting, the board of The shareholders'meeting, the board of
directors, the board of supervisors Refer to directors and the board of supervisors of
the Company
Articles of incorporation Refer to Articles of incorporation of Jiangsu Yanghe
Distillery Co., Ltd.
SSE Refer to Shenzhen Stock Exchange
SRC,CSRC Refer to China Securities Regulatory Commission
SAC of Suqian, SASAC of Suqian Refer to State-owned Assets Supervision and
Administration Commission of Suqian
Suya Jincheng, Accounting firm Refer to Suya Jincheng CPA LLP
Blue Alliance Refer to Jiangsu Blue Alliance Co., Ltd.
Yanghe Branch of the Company Refer to Jiangsu Yanghe Distillery Co., Ltd. Yanghe
Branch
Siyang Branch of the Company Refer to Jiangsu Yanghe Distillery Co., Ltd. Siyang
Branch
Shuanggou Distillery Refer to Jiangsu Shuanggou Disti
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