Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
Stock Code: 000858 Stock Name: Wuliangye Announcement No.: 2026/ No. 045
Wuliangye Yibin Co., Ltd.
Third Quarterly Report 2026
The Company and all members of its Board of Directors hereby guarantee that the information disclosed
herein are true, accurate and complete and free of any misrepresentations, misleading statements or material
omissions.
Important information:
Yibin Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee that the contents of this Report are
true, accurate and complete and free of any misrepresentations, misleading statements or material omissions,
and collectively and individually accept legal responsibility for such contents.
(accounting supervisor) hereby guarantee that the financial statements carried in this Report are true, accurate
and complete.
□ Yes No
I Key Financial Information
i. Key Accounting Data and Financial Indicators
Indicate whether there is any retrospectively restated datum in the table below.
□ Yes No
Q3 2026 YoY change (%) Q1-Q3 2026 YoY change (%)
Operating revenue (RMB) 4,441,799,422.57 -37.68% 32,858,473,964.34 7.25%
Net profit attributable to
the listed company’s 957,704,479.72 -48.25% 9,710,647,471.03 49.98%
shareholders (RMB)
Net profit attributable to
the listed company’s
shareholders before non- 957,398,695.72 -48.16% 9,440,688,403.06 46.18%
recurring gains and losses
(RMB)
Net cash generated
from/used in operating — — 46,684,115.79 -99.83%
activities (RMB)
Basic earnings per share
(RMB/share)
Diluted earnings per share
(RMB/share)
Weighted average return Down by 0.5 Up by 3.2
on equity (%) percentage point percentage point
September 30, 2026 December 31, 2025 Change (%)
Total assets (RMB) 171,960,314,815.83 189,984,270,815.47 -9.49%
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
Equity attributable to the
listed company’s 118,436,973,213.44 119,932,271,234.99 -1.25%
shareholders (RMB)
(II) Non-recurring Gains and Losses
Applicable □ Not applicable
Unit: RMB
Item Q3 2026 Q1-Q3 2026 Note
Gain or loss on disposal of non-current assets (inclusive
of impairment allowance write-offs)
Government grants recognized in profit or loss (exclusive
of those that are closely related to the Company's normal
business operations and given in accordance with defined 5,235,291.80 292,231,970.00
criteria and in compliance with government policies, and
have a continuing impact on the Company's profit or loss)
Capital occupation charges on non-financial enterprises
that are recognized in profit or loss
Non-operating income and expense other than the above -10,324,344.80 -10,301,892.49
Less: Income tax effects 205,292.10 8,946,769.79
Non-controlling interests effects (net of tax) 180,184.17 12,969,315.18
Total 305,784.00 269,959,067.97 --
Particulars about other items that meet the definition of non-recurring gain/loss:
□ Applicable Not applicable
No such cases for the Reporting Period.
Explanation of why the Company reclassifies as recurrent an non-recurring gain/loss item listed in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public—Non-recurring Gain/Loss Items:
□ Applicable Not applicable
No such cases for the Reporting Period.
(III) Changes in Key Financial Statement Items and Reasons
Applicable □ Not applicable
Q3 2026 YoY change (%) Q1-Q3 2026 YoY change (%)
Operating revenue (RMB) 4,441,799,422.57 -37.68% (Note 1) 32,858,473,964.34 7.25%
Net profit attributable to the listed
company’s shareholders (RMB)
Net profit attributable to the listed
company’s shareholders before non- 957,398,695.72 -48.16% (Note 1) 9,440,688,403.06 46.18% (Note 2)
recurring gains and losses (RMB)
Net cash generated from/used in
— — 46,684,115.79 -99.83% (Note 3)
operating activities (RMB)
Basic earnings per share (RMB/share) 0.2475 -48.11% (Note 1) 2.5043 50.14% (Note 2)
Diluted earnings per share (RMB/share) 0.2475 -48.11% (Note 1) 2.5043 50.14% (Note 2)
Note 1: Due to weak market demand, sales volume of the Company’s relevant products decreased,
resulting in a year-on-year decline in revenue and profit for the Reporting Period.
Note 2: This is primarily driven by the combined effect of the low profit base in the same period of last
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
year and effective sell-through measures implemented during the Spring Festival period, which delivered strong
sell-through performance of core products in the peak selling season.
Note 3: This is primarily driven by the combined effect of a high base in the same period of last year, lower
cash receipts resulting from adjustments to collection policies in response to market changes in the current year,
and a year-on-year decrease in the amount of maturing bank acceptance bills.
II Shareholder Information
(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting
Rights as well as Holdings of Top 10 Shareholders
Unit: share
Number of ordinary shareholders at Number of preference shareholders with resumed
the period-end voting rights at the period-end (if any)
Top 10 shareholders (exclusive of shares lent in refinancing)
Sharehold Shares in pledge, marked
Nature of
ing Restricted or frozen
Name of shareholder sharehold Total shares held
percentag shares held
er Status Shares
e (%)
State-
Yibin Development Holding Group owned
Co., Ltd. corporatio
n
State-
Sichuan Yibin Wuliangye Group Co., owned
Ltd. corporatio
n
China Securities Finance Corporation
Other 1.61% 62,460,815
Limited
Overseas
Hong Kong Securities Clearing
corporatio 1.46% 56,780,327
Company Limited
n
Bank of China Limited－China
Merchants China Securities Baijiu
Other 1.11% 43,207,349
Index Classification Securities
Investment Fund
Rui Life Insurance Co., Ltd.－Own
Other 0.86% 33,480,332
Funds
China Construction Bank Corporation
－Penghua China Securities Liquor
Other 0.54% 20,929,071
Exchange-traded Open-ended Index
Securities Investment Fund
Industrial and Commercial Bank of
China Limited－China Securities
Major Consumption Exchange- Other 0.48% 18,509,870
Traded Open-Ended Index Securities
Investment Fund
Hexie Health Insurance Co., Ltd.－
Other 0.27% 10,330,447
Universal Life Products
Hexie Health Insurance Co., Ltd.－
Other 0.26% 10,047,606
Universal Life
Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked-up shares of senior management)
Name of shareholder Unrestricted shares held Shares by class
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
Class Shares
RMB-
Yibin Development Holding Group
Co., Ltd.
ordinary shares
RMB-
Sichuan Yibin Wuliangye Group Co.,
Ltd.
ordinary shares
RMB-
China Securities Finance Corporation
Limited
ordinary shares
RMB-
Hong Kong Securities Clearing
Company Limited
ordinary shares
Bank of China Limited－China
RMB-
Merchants China Securities Baijiu
Index Classification Securities
ordinary shares
Investment Fund
RMB-
Rui Life Insurance Co., Ltd.－Own
Funds
ordinary shares
China Construction Bank Corporation
RMB-
－Penghua China Securities Liquor
Exchange-traded Open-ended Index
ordinary shares
Securities Investment Fund
Industrial and Commercial Bank of
China Limited－China Securities RMB-
Major Consumption Exchange- 18,509,870 denominated 18,509,870
Traded Open-Ended Index Securities ordinary shares
Investment Fund
RMB-
Hexie Health Insurance Co., Ltd.－
Universal Life Products
ordinary shares
RMB-
Hexie Health Insurance Co., Ltd.－
Universal Life
ordinary shares
Among the top 10 shareholders, Sichuan Yibin Wuliangye Group
Co., Ltd. is a wholly-owned subsidiary of Yibin Development
Related or acting-in-concert parties among the shareholders
Holding Group Co., Ltd. And the Company is not aware of any
above
related or acting-in-concert parties among the other public
shareholders.
Top 10 shareholders involved in securities margin trading (if any) None
As of the end of the Reporting Period, the special securities
account for share repurchases of Wuliangye Yibin Co., Ltd. held
Repurchased share account among the top 10 shareholders
Company’s total share capital. Pursuant to relevant regulations,
the special account shall not be presented among the top 10
shareholders.
refinancing shares lending:
□ Applicable Not applicable
Changes in top 10 shareholders and top 10 unrestricted public shareholders due to shares lent/returned in
refinancing compared with the prior period:
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
□ Applicable Not applicable
(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them
□ Applicable Not applicable
III Other Significant Events
□ Applicable Not applicable
IV Quarterly Financial Statements
i. Financial Statements
Prepared by Wuliangye Yibin Co., Ltd. September 30, 2026 Unit: RMB
Item September 30, 2026 January 1, 2026
Current assets:
Monetary assets 111,729,809,959.56 127,014,443,016.86
Settlement reserve
Loans to other banks and financial
institutions
Held-for-trading financial assets
Derivative financial assets
Notes receivable 1,878,873.58 4,841,437.44
Accounts receivable 145,058,810.03 37,745,419.51
Receivables financing 1,021,975,615.05 9,401,640,775.74
Prepayments 203,481,245.35 194,996,398.52
Premiums receivable
Reinsurance receivables
Receivable reinsurance contract
reserve
Other receivables 67,378,858.81 64,356,368.30
Of which: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventories 24,197,453,313.89 20,065,336,751.20
Of which: Data resources
Contract assets
Assets held for sale
Current portion of non-current
assets
Other current assets 6,503,277,634.07 7,968,202,942.10
Total current assets 143,870,314,310.34 164,751,563,109.67
Non-current assets:
Loans and advances to customers
Debt investments
Other debt investments
Long-term receivables
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
Long-term equity investments 2,278,189,975.84 2,233,514,411.45
Other equity investments
Other non-current financial assets 1,400,000.00 1,200,000.00
Investment property
Fixed assets 8,467,108,457.32 7,641,231,013.35
Construction in progress 6,634,544,953.88 7,034,061,137.40
Productive living assets
Oil and gas assets
Right-of-use assets 221,573,052.00 406,402,594.29
Intangible assets 2,577,991,109.33 2,674,326,878.83
Of which: Data resources
Development costs
Of which: Data resources
Goodwill 1,621,619.53 1,621,619.53
Long-term prepaid expense 126,735,631.14 121,712,293.75
Deferred income tax assets 7,514,541,584.86 4,813,123,125.48
Other non-current assets 266,294,121.59 305,514,631.72
Total non-current assets 28,090,000,505.49 25,232,707,705.80
Total assets 171,960,314,815.83 189,984,270,815.47
Current liabilities:
Short-term borrowings
Borrowings from the central bank
Loans from other banks and
financial institutions
Held-for-trading financial liabilities
Derivative financial liabilities
Notes payable 560,727,474.45 1,352,014,535.90
Accounts payable 7,220,773,465.28 8,534,820,869.28
Advances from customers 6,802,152.95 13,915,018.07
Contract liabilities 8,926,973,899.03 13,459,591,156.56
Financial assets sold under
repurchase agreements
Customer deposits and deposits
from other banks and financial
institutions
Payables for acting trading of
securities
Payables for underwriting of
securities
Employee benefits payable 3,444,358,950.69 4,319,426,136.50
Taxes and levies payable 421,763,318.44 2,093,071,546.91
Other payables 6,054,672,819.52 10,185,754,419.34
Of which: Interest payable
Dividends payable 2,124,585,309.52 5,565,976,643.61
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
Fees and commissions payable
Reinsurance payables
Liabilities directly associated with
assets held for sale
Current portion of non-current
liabilities
Other current liabilities 23,767,265,002.38 27,029,072,199.84
Total current liabilities 50,547,178,218.25 67,351,815,353.24
Non-current liabilities:
Insurance contract reserve
Long-term borrowings
Bonds payable
Of which: Preference shares
Perpetual bonds
Lease liabilities 73,216,191.55 44,381,182.44
Long-term payables
Long-term employee benefits
payable
Provisions
Deferred income 336,600,571.19 307,239,518.79
Deferred income tax liabilities 46,540,528.90 100,151,115.86
Other non-current liabilities
Total non-current liabilities 456,357,291.64 451,771,817.09
Total liabilities 51,003,535,509.89 67,803,587,170.33
Owners’ equity:
Share capital 3,881,608,005.00 3,881,608,005.00
Other equity instruments
Of which : Preference shares
Perpetual bonds
Capital reserves 2,684,615,931.26 2,682,980,307.40
Less: Treasury shares 1,200,796,014.24
Other comprehensive income
Specific reserve
Surplus reserves 42,948,822,868.25 42,948,822,868.25
General reserve
Retained earnings 70,122,722,423.17 70,418,860,054.34
Total equity attributable to owners of the
parent company
Non-controlling interests 2,519,806,092.50 2,248,412,410.15
Total owners’ equity 120,956,779,305.94 122,180,683,645.14
Total liabilities and owners’ equity 171,960,314,815.83 189,984,270,815.47
Legal representative: Deng Min Chief Financial Officer: Zhang Xin Head of the accounting department: Liu Min
Unit: RMB
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
Item Q1-Q3 2026 Q1-Q3 2025
I Total revenues 32,858,473,964.34 30,637,727,654.97
Of which: Operating revenue 32,858,473,964.34 30,637,727,654.97
Interest income
Insurance premium income
Fee and commission income
II Total costs and expenses 20,033,338,122.22 21,871,132,734.11
Of which: Cost of sales 6,606,866,724.90 7,437,309,893.84
Interest costs
Fee and commission costs
Surrenders
Net insurance claims paid
Net amount provided as insurance policy reserve
Expenditure on policy dividends
Reinsurance premium expense
Taxes and levies 4,858,694,661.75 9,116,314,571.01
Selling expense 7,798,075,590.91 4,733,344,481.38
Administrative expense 2,002,580,747.16 2,298,633,729.54
R&D expense 291,248,077.82 318,925,867.64
Finance costs -1,524,127,680.32 -2,033,395,809.30
Of which: Interest expense 25,044,142.41 21,402,505.61
Interest income 1,550,053,880.85 2,057,066,902.39
Add: Other income 309,979,312.73 78,983,849.16
Return on investment (“－” for loss) 75,960,276.39 51,393,321.62
Of which: Share of profit or loss of joint ventures and
associates
Income from the derecognition of financial
assets at amortized cost
Exchange gain (“－” for loss)
Net gain on exposure hedges (“－” for loss)
Gain on changes in fair value (“－” for loss)
Credit impairment loss (“－” for loss) -1,240,008.17 -1,147,073.49
Asset impairment loss (“－” for loss)
Asset disposal income (“－” for loss) 1,322,449.29 12,464,939.03
III Operating profit (“－” for loss) 13,211,157,872.36 8,908,289,957.18
Add: Non-operating income 34,677,640.35 37,926,665.12
Less: Non-operating expense 36,486,399.25 76,560,968.27
IV Gross profit (“－” for gross loss) 13,209,349,113.46 8,869,655,654.03
Less: Income tax expense 3,240,062,336.22 2,082,682,603.86
V Net profit (“－” for net loss) 9,969,286,777.24 6,786,973,050.17
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
i. By operating continuity
ii. By ownership
company (“－” for net loss) 9,710,647,471.03 6,474,551,792.18
net loss)
VI Other comprehensive income, net of tax
Other comprehensive income, net of tax attributable to owners of
the parent company
i. Other comprehensive income that will not be reclassified to
profit or loss
schemes
profit or loss under the equity method
credit risk
ii. Other comprehensive income that will be reclassified to
profit or loss
profit or loss under the equity method
reclassification of financial assets
denominated financial statements
Other comprehensive income, net of tax attributable to non-
controlling interests
VII Total comprehensive income 9,969,286,777.24 6,786,973,050.17
i. Total comprehensive income attributable to owners of the
parent company
ii. Total comprehensive income attributable to non-controlling
interests
VIII Earnings per share:
i. Basic earnings per share 2.5043 1.6680
ii. Diluted earnings per share 2.5043 1.6680
Legal representative: Deng Min Chief Financial Officer: Zhang Xin Head of the accounting department: Liu Min
Unit: RMB
Item Q1-Q3 2026 Q1-Q3 2025
I Cash flows from operating activities:
Proceeds from sale of goods and rendering of services 32,690,116,655.30 76,608,043,515.75
Net increase in customer deposits and deposits from other
banks and financial institutions
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
Net increase in borrowings from the central bank
Net increase in loans from other financial institutions
Premiums received on original insurance contracts
Net proceeds from reinsurance
Net increase in deposits and investments of policy holders
Interest, fees and commissions received
Net increase in loans from other banks and financial
institutions
Net increase in proceeds from repurchase transactions
Net proceeds from acting trading of securities
Tax and levy rebates 7,864,240.00 3,869,080.00
Cash generated from other operating activities 2,175,969,506.27 1,819,040,428.91
Subtotal of cash generated from operating activities 34,873,950,401.57 78,430,953,024.66
Payments for goods and services 9,863,622,966.35 10,050,827,765.03
Net increase in loans and advances to customers
Net increase in deposits in the central bank and other banks
and financial institutions
Payments for claims on original insurance contracts
Net increase in loans to other banks and financial
institutions
Interest, fees and commissions paid
Policy dividends paid
Cash paid to and for employees 6,231,728,967.18 6,596,712,338.73
Taxes and levies paid 14,123,769,211.45 28,696,500,647.97
Cash used in other operating activities 4,608,145,140.80 4,839,423,855.99
Subtotal of cash used in operating activities 34,827,266,285.78 50,183,464,607.72
Net cash generated from/used in operating activities 46,684,115.79 28,247,488,416.94
II Cash flows from investing activities:
Proceeds from the disposal of investments
Return on investment 31,284,712.00
Net proceeds from the disposal of fixed assets, intangible
assets and other long-term assets
Net proceeds from the disposal of subsidiaries and other
business units
Cash generated from other investing activities
Subtotal of cash generated from investing activities 66,370,121.33 29,998,282.66
Payments for the acquisition and construction of fixed
assets, intangible assets and other long-term assets
Payments for the acquisition of investments 37,820,000.00 40,000,000.00
Net increase in pledge loans
Net payments for the acquisition of subsidiaries and other
business units
Cash used in other investing activities
Subtotal of cash used in investing activities 696,066,537.09 1,528,528,821.02
Net cash generated from/used in investing activities -629,696,415.76 -1,498,530,538.36
Third Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.
III Cash flows from financing activities:
Capital contributions received 52,010,000.00
Of which: Capital contributions received by subsidiaries
from non-controlling interests
Borrowings received
Cash generated from other financing activities
Subtotal of cash generated from financing activities 52,010,000.00
Repayment of borrowings
Interest and dividends paid 13,449,176,436.29 18,536,483,001.72
Of which: Dividends paid by subsidiaries to non-controlling
interests
Cash used in other financing activities 1,503,265,362.46 414,824,117.82
Subtotal of cash used in financing activities 14,952,441,798.75 18,951,307,119.54
Net cash generated from/used in financing activities -14,900,431,798.75 -18,951,307,119.54
IV Effect of foreign exchange rate changes on cash and cash
equivalents
V Net increase in cash and cash equivalents -15,483,444,098.72 7,797,650,759.04
Add: Cash and cash equivalents, beginning of the period 124,114,690,633.67 124,771,274,417.68
VI Cash and cash equivalents, end of the period 108,631,246,534.95 132,568,925,176.72
ii. Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation of
the New Accounting Standards Implemented since 2026
□ Applicable Not applicable
iii. Independent Auditor’s Report
Indicate whether the financial statements in this Report have been audited by an independent auditor.
□ Yes No
These financial statements are unaudited by such an auditor.
The Board of Directors of Wuliangye Yibin Co., Ltd.
October 28, 2026
