洋河股份:2024年年度报告(英文版)

Jiangsu Yanghe Distillery Co., Ltd.
2024 Annual Report
April 2025

Section I Important Statements, Contents and Definitions
The board of directors, board of supervisors, directors, supervisors and senior management of Jiangsu Yanghe
Distillery 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, the responsible person for the Company, Mr. Yin Qiuming, the responsible person for
accounting affairs and Mr. Zhao Qike, the responsible person for accounting department (the accounting
supervisor) havewarranted that the financial statementsinthisreportare true, accurate and complete. Exceptfor
the directors listed below, all other directors attended the board meeting in person to review this annual report.
Names of Directors Who Positions of Directors Reason for Not Attending
Did Not Attend in Person Who Did Not Attend in the Meeting in Person Name of Proxy
Person
Nie Yao Independent Director Business Trip Lu Guoping
The future plans and other forward-looking statements mentioned in this annual report, due to their inherent
uncertainties, shall not be regarded as substantive commitments 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 11. Outlook
for the Future Development of the Company in Section III Management 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 1,506,445,074 shares, a cash dividend of
CNY 23.17 (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 2024 Annual Report was publicly disclosed on the Shenzhen Stock Exchange and
www.cninfo.com.cn on 29 April 2025. 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.......6
Section Ⅲ Management Discussion and Analysis......11
Section Ⅳ Corporate Governance........37
Section Ⅳ Environment and Social Responsibility........72
Section Ⅳ Significant Events........79
Section Ⅳ Changes in Shares and Information about Shareholders……………….. 94
Section Ⅳ Information about Preference Shares...... 104
Section Ⅳ Information about Bonds........ 105
Section Ⅳ Financial Reports......106
Document Catalog
(I) Financial statements containing the signatures and seals of the person in charge of the Company, the
accounting head, and the person in charge of the accounting body (accounting manager).
(II) The original audit reports with the seal of the accounting firm and the signatures and seals of the certified
public accountants.
(III) The originals of all Company documents and announcements publicly disclosed during the reporting period.
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. 2024 to 31 Dec. 2024
The report Refer to 2024 Annual Report
Yuan, Ten thousand yuan, A hundred million yuan Refer to CNY 0.00, CNY 10,000.00, CNY 100,000,000.00
The shareholders' meeting, the board of directors, Refer to The Shareholders' Meeting, Board of Directors, and
the board of supervisors Supervisory Board of Jiangsu Yanghe Distillery Co.
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
Zhongxi, Accounting firm Refer to Zhongxi CPA LLP
Blue Alliance