五粮液:2023年度报告(英文)

Wuliangye Yibin Co., Ltd.
Annual Report 2023
Chairman of the Board: Zeng Congqin
29April 2024

Part I Important Notes, Table of Contents and Definitions
1. The Board of Directors (or the “Board”), the Supervisory Committee as well as the
directors, supervisors and senior management of Wuliangye 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.
2. Zeng Congqin, the Company’s legal representative, Xie Zhiping, the Company’s Chief
Financial Officer, and Liu Hongxu, head of the Company’s accounting department, hereby
guarantee that the financial statements carried in this Report are true, accurate and complete.
3. Nine directors were supposed to attend the board meeting for the review of this Report.
Eight of them were present at the meeting in person while Mr. Xiao Hao voted by way of
telecommunication for he was unable to be present due to work reasons.
4. Any future plans, development strategies and other forward-looking statements mentioned
in this Report shall not be considered as promises to investors for the reason of their uncertainty.
Investors are kindly advised to invest wisely. The Company has disclosed in this Report the
possible risks.And investors are reminded to exercise caution when making investment decisions.
5. The Board of Directors has approved a final cash dividend of RMB46.70 (tax inclusive)
per 10 shares to shareholders based on the total 3,881,608,005 shares held by them, with no bonus
issue from either profit or capital reserves.
6. This Report has been prepared in Chinese and translated into English. Should there be any
discrepancies or misunderstandings between the two versions, the Chinese version shall prevail.

Table of Contents

Part I Important Notes, Table of Contents and Definitions......2
Part II Corporate Information and Key Financial Information......6
Part III Management Discussion andAnalysis......12
Part IV Corporate Governance ......33
Part V Environmental and Social Responsibility......49
Part VI Significant Events ......54
Part VII Share Changes and Shareholder Information......58
Part VIII Preference Shares......64
Part IX Bonds......64
Part X Financial Statements ......65
DocumentsAvailable for Reference
The following documents are available for shareholders at the relevant department of the
Company:
1. The financial statements that have been signed and stamped by the legal representative,
the Chief Financial Officer, and the head of the accounting department.
2. The original copy of the Independent Auditor’s Report that has been stamped by the CPA
firm, as well as signed and stamped by the relevant certified public accountants.
3. The originals of all the Company’s documents and announcements that were disclosed on
China Securities Journal, Shanghai Securities News and Securities Times during the Reporting
Period.
4. TheAnnual Report of the Company.

Definitions
Term refers to Definitions
The “Company”, “Wuliangye”, refers to Wuliangye Yibin Co., Ltd.
“WLY”, or “we”
The State-ownedAssets Supervision and
SASAC Yibin refers to Administration Commission of the People’s Government
of Yibin City
Yibin Development Group refers to Yibin Development Holding Group Co., Ltd.
Wuliangye Group refers to Sichuan Yibin Wuliangye Group Co., Ltd.
Wuliang NongXiang refers to Sichuan Wuliangye NongXiang Baijiu Co., Ltd.
Push Group refers to Sichuan Yibin Push Group Co., Ltd.
Global Group refers to Sichuan Yibin Global Group Co., Ltd.
Anji Logistic Group refers to Anji Logistic Group Co., Ltd. Sichuan
Wuliangye Group Finance refers to Sichuan Yibin Wuliangye Group Finance Co., Ltd.
Creart refers to Yibin Wuliangye Creart Co., Ltd.
Wuliangye Cultural Tourism refers to Sichuan Wuliangye Cultural Tourism Development
Co., Ltd.

Part II Corporate Information and Key Financial Information
I Corporate Information
Stock name Wuliangye Stock code 000858
Stock exchange Shenzhen Stock Exchange
Company name in Chinese 宜宾五粮液股份有限公司
Abbr. 五粮液
Company name in English (if WULIANGYE YIBIN CO.,LTD.