Stock Code: 600519 Stock Abbr.: Kweichow Moutai
KWEICHOW MOUTAI CO., LTD.
ANNUAL REPORT 2022
Important Statements
I. The Board of Directors, Board of Supervisors, directors, supervisors and the senior management
of the Company guarantee that the information presented in this report is free of any false records,
misleading statements or material omissions, and shall bear individual and joint legal liabilities for
the truthfulness, accuracy and completeness of its contents.
II.All directors of the Company attend the meeting of the board of directors.
III. Baker Tilly China CPAs has issued a standard unqualified audit report for the Company.
IV. Ding Xiongjun, responsible person for the Company, Jiang Yan, responsible person for
accounting work, and Cai Congying, responsible person for the Company’s financial affairs
(Accounting Supervisor), have warranted that the financial statements in this report are true,
accurate and complete.
V. The proposed profit distribution plan or the proposed plan of capitalization of capital reserves
in the reporting period approved by the resolution of the Board of Directors
On the basis of a total capital of 1,256,197,800 shares by the end of 2022, all shareholders will be
distributed a cash dividend of CNY 259.11 (before tax) for every 10 shares, with a total profit distribution
of CNY 32,549,341,195.80. If there is any change in the total share capital of the company before the
equity registration date for the implementation of equity distribution, the total dividend amount will be
maintained unchanged, and the dividend ratio per share will be adjusted accordingly. The above profit
distribution proposal shall be submitted to the general assembly of shareholders of the Company for
deliberation and approval before implementation.
VI. Risk disclosure statement for forward-looking statements
Forward-looking statements in this report concerning future plans or development strategies do not
constitute substantial promises to investors, due to the related uncertainty. Investors are advised to be
aware of their own investment risks.
VII. Existence of non-operational embezzlement of funds by controlling shareholders or their
associated parties
No
VIII. Existence of Financial Guarantees to External Parties in Violation of the Regulated Decision
Procedures
No
IX. Over half of the directors’ failure to guarantee the truthfulness, accuracy and completeness of
the Company’s disclosed annual report.
No
X. Significant risk statements
The Company has elaborated the potential risks in the chapter of “The Company Discussion and Analysis
on its Future Development”. Investors are advised to pay their due attention.
XI. Information Statement
All information and data cited in this Report are objective and authentic. Financial figures herein are rec
orded in CNY, unless otherwise specified. This Report is prepared in Chinese and English, respectively.
In case of any ambiguity in the Chinese and English texts, the Chinese text shall prevail.
Contents
Section I Definitions...... 5
Section II Company Profile and Key Financial Results...... 5
Section III Management’s Discussion andAnalysis...... 8
Section IV Corporate Governance...... 26
Section V Environment and Social Responsibility...... 46
Section VI Significant Events...... 50
Section VII Changes in Shares and Information about Shareholders...... 66
Section VIII Preferred Shares ...... 71
Section IX Information about Bond...... 71
Section X Financial Report...... 71
References include the accounting statements signed and stamped by the
respective individuals in charge of the company, the company accounting
work, and the accounting department (their accounting supervisor).
Documents Available for References include the audit report original signed and stamped by the
Reference certified public accountant and stamped by the accounting firm.
The originals of company documents and announcements that are publicly
disclosed in China Securities Journal and Shanghai Securities News during
the reporting period.
Section I Definitions
1. Definitions
Unless it is otherwise referred in the context, the terms in this report have the following meanings:
Terms and Definitions
CSRC refers to China Securities Regulatory Commission
SSE refers to Shanghai Stock Exchange
Company, the company refers to Kweichow Moutai Co., Ltd.
Controlling shareholder, group refers to China Kweichow Moutai Distillery (Group) Co., Ltd.
company
Reporting period refers to Fiscal Year of 2022
This report, the report refers to Annual Report 2022
Section II Company Profile and Key Financial Results
1. Corporat
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