Financial Performance - The company's operating revenue for 2024 reached ¥36,010,992,321.46, representing a 12.79% increase compared to ¥31,928,483,054.02 in 2023[21] - The net profit attributable to shareholders for 2024 was ¥12,242,884,323.77, a 17.29% increase from ¥10,438,114,410.47 in 2023[21] - The net cash flow from operating activities increased by 68.47% to ¥12,172,323,337.21 in 2024, up from ¥7,225,083,460.39 in 2023[21] - The total assets of the company as of the end of 2024 were ¥53,495,197,888.51, a 21.32% increase from ¥44,095,837,995.19 at the end of 2023[21] - The net assets attributable to shareholders increased by 24.85% to ¥34,753,830,416.04 at the end of 2024, compared to ¥27,836,907,912.57 at the end of 2023[21] - Basic earnings per share for 2024 were ¥10.0354, reflecting a 17.20% increase from ¥8.5627 in 2023[22] - The weighted average return on equity for 2024 was 39.68%, down 3.38 percentage points from 43.06% in 2023[22] Cash Dividends - The company plans to distribute a cash dividend of ¥36.00 per 10 shares, totaling approximately ¥4,391,871,199.20 based on the total share capital of 1,219,964,222 shares[5] - The company reported a retained earnings balance of ¥17,730,506,904.26 after the dividend distribution[5] - The total cash dividend for 2024, including mid-term distributions, is 7,392,983,185.32 RMB, representing 60.39% of the net profit attributable to ordinary shareholders[134] Operational Highlights - In Q1 2024, the company reported operating revenue of ¥15.34 billion, with a net profit attributable to shareholders of ¥6.26 billion[24] - The net cash flow from operating activities in Q1 2024 was ¥7.04 billion, indicating strong cash generation capabilities[24] - The company achieved a net profit of ¥2.94 billion in Q3 2024, reflecting a significant increase compared to Q2 2024's net profit of ¥2.15 billion[24] - The production volume of liquor increased by 7.25% to 240,543.43 thousand liters, while sales volume rose by 7.20% to 220,602.70 thousand liters[52] Market Expansion and Development - The company expanded its market presence internationally, achieving over 50% growth in liquor export revenue year-on-year[36] - The company has optimized its domestic market layout, achieving steady growth in key regions such as the Yangtze River Delta and Pearl River Delta[35] - The company organized over 700 promotional events internationally, significantly increasing its brand presence in 11 new countries[36] - The company plans to invest CNY 910,181.50 million in the expansion of original liquor production capacity and storage, aiming for an annual production capacity of 51,000 tons[82] Research and Development - Research and development expenses rose significantly by 67.60% to ¥147,795,963.97, compared to ¥88,182,472.58 in the prior year[48] - The total R&D expenditure accounted for 0.41% of the operating revenue, indicating a focus on innovation[58] - The company has 528 R&D personnel, accounting for 3.86% of the total workforce[59] - The company established the "Shanxi Province Ecological Brewing Technology Innovation Center" to enhance research and innovation capabilities, achieving a historic high in invention patents[37] Risk Management and Compliance - There are no significant risks that could materially affect the company's operations reported for the year[7] - The company has implemented a comprehensive risk management system, ensuring robust control over various operational risks[41] - The company maintains a transparent information disclosure process, ensuring timely and accurate communication with investors through various channels[103] Sustainability Initiatives - The company has implemented a clean production process by replacing coal-fired boilers with natural gas boilers, significantly reducing emissions[145] - The company has achieved a green electricity usage ratio of 30% as part of its carbon peak action plan[154] - The company has initiated a carbon reduction action plan, focusing on low-carbon brewing and energy-saving innovations[154] Corporate Governance - The company held 2 shareholder meetings and 18 board meetings during the reporting period, ensuring compliance with legal and regulatory requirements[101][102] - The company has appointed a new securities affairs representative, enhancing its governance structure[114] - The audit committee convened six meetings, reviewing the 2023 annual financial statements and the first draft of the 2024 semi-annual report[122][123] Employee Development - The company introduced 2 PhDs and recruited 208 external talents to strengthen its workforce, enhancing overall talent quality[42] - The company emphasizes talent development and training, aligning with its overall development strategy and the 14th Five-Year Plan for employee education and training[128] - The professional composition of employees includes 9,001 production personnel, 1,422 sales personnel, 528 technical personnel, 221 financial personnel, 258 administrative personnel, and 2,501 management support personnel[125]

Financial Performance - The company's operating revenue for Q1 2025 was CNY 16.52 billion, representing a 7.72% increase compared to CNY 15.34 billion in the same period last year[3]. - Net profit attributable to shareholders for Q1 2025 was CNY 6.65 billion, up 6.15% from CNY 6.26 billion year-on-year[3]. - The basic earnings per share for Q1 2025 increased to CNY 5.45, a rise of 6.24% from CNY 5.13 in the previous year[3]. - Total operating revenue for Q1 2025 reached ¥16,522,645,535.50, an increase of 7.73% compared to ¥15,338,104,001.25 in Q1 2024[14]. - Net profit for Q1 2025 was ¥6,655,583,906.21, representing a 6.20% increase from ¥6,266,473,249.60 in Q1 2024[15]. - Earnings per share for Q1 2025 were ¥5.45, compared to ¥5.13 in Q1 2024, reflecting a growth of 6.23%[15]. Assets and Equity - The total assets at the end of Q1 2025 reached CNY 56.10 billion, marking a 4.87% increase from CNY 53.50 billion at the end of the previous year[3]. - The company's total assets increased to ¥56,101,848,670.71 in the latest reporting period, up from ¥53,495,197,888.51[11]. - The equity attributable to shareholders increased by 10.47% to CNY 38.39 billion from CNY 34.75 billion year-on-year[3]. - The company's equity attributable to shareholders rose to ¥38,393,077,369.06, compared to ¥34,753,830,416.04, marking an increase of 10.00%[11]. Cash Flow - The net cash flow from operating activities for Q1 2025 was CNY 7.03 billion, showing a slight decrease of 0.21% compared to CNY 7.04 billion in the same period last year[3]. - In Q1 2025, the cash inflow from operating activities was approximately ¥13.90 billion, a decrease of 2.59% compared to ¥14.27 billion in Q1 2024[18]. - The net cash flow from operating activities was ¥7.03 billion, slightly down from ¥7.04 billion in the same period last year, reflecting a decrease of 0.01%[18]. - Cash inflow from investment activities totaled approximately ¥12.81 billion, down 13.63% from ¥14.84 billion in Q1 2024[19]. - The net cash flow from investment activities was -¥2.96 billion, an improvement from -¥5.30 billion in Q1 2024[19]. - The ending cash and cash equivalents balance was ¥7.18 billion, up from ¥5.51 billion in Q1 2024, representing a growth of 30.67%[19]. Costs and Expenses - Total operating costs for Q1 2025 were ¥7,608,746,231.88, up 9.00% from ¥6,978,678,492.84 in Q1 2024[14]. - The company reported a significant increase in tax expenses, totaling ¥2,232,295,673.89 in Q1 2025, compared to ¥2,098,356,413.57 in Q1 2024[15]. - Research and development expenses for Q1 2025 were ¥33,959,260.13, up from ¥23,979,107.47 in Q1 2024, showing a growth of 41.67%[14]. - The cash paid for purchasing goods and services was approximately ¥1.53 billion, an increase of 15.77% from ¥1.32 billion in Q1 2024[18]. - The cash paid to employees was ¥1.50 billion, up from ¥1.38 billion in the same period last year, reflecting a growth of 8.30%[18]. Shareholder Information - The company reported a total of 68,498 common shareholders at the end of the reporting period[5]. - The largest shareholder, Shanxi Xinghuacun Fenjiu Group Co., Ltd., holds 56.65% of the shares[5]. Non-Recurring Items - Non-recurring losses for the period amounted to CNY -8.03 million, primarily due to other operating income and expenses[6]. - The company’s investment income showed a loss of ¥14,733,246.55 in Q1 2025, contrasting with a gain of ¥2,667,911.03 in Q1 2024[14].

公司董事会对独立董事独立性自查情况的 专项报告 根据中国证券监督管理委员会《上市公司独立董事管理办 法》《上海证券交易所上市公司自律监管指引第1号——规范运 作》和公司《独立董事工作制度》等相关规定，山西杏花村汾 酒厂股份有限公司（以下简称"公司"）董事会对公司在任独 立董事独立性情况进行了评估并出具专项意见如下：经核查公 司在任独立董事周培玉先生、李临春先生、樊燕萍女士的任职 经历以及其签署的相关自查文件等内容，公司董事会认为独立 董事周培玉先生、李临春先生、樊燕萍女士不存在任何妨碍其 进行独立客观判断的关系，不存在影响独立董事独立性的情况， 符合中国证券监督管理委员会《上市公司独立董事管理办法》 《上海证券交易所上市公司自律监管指引第1号——规范运作》 等对独立董事独立性的相关要求。 山西杏花村汾酒厂股份有限公司董事会 2025年4月28日 ...

山西杏花村汾酒厂股份有限公司（以下简称"公司"）聘请 天衡会计师事务所（特殊普通合伙）（以下简称"天衡"）作为公 司 2024 年度年报审计机构。根据财政部、国资委及证监会颁布 的《国有企业、上市公司选聘会计师事务所管理办法》，公司对 天衡 2024 年审计过程中的履职情况进行评估。经评估，公司认 为天衡资质等方面合规有效，履职保持独立性，勤勉尽责，公允 表达意见，具体情况如下： 一、资质条件 （一）基本信息 天衡前身为 1985 年成立的江苏会计师事务所，1999 年脱钩 改制，2013 年转制为特殊普通合伙会计师事务所，于 2013 年 9 月 28 日取得江苏省财政厅颁发的会计师事务所执业证书，长期 从事证券服务业务，是中国首批获得证券期货相关业务资格和首 批取得金融企业审计资格的会计师事务所之一。 截至 2024 年末，天衡拥有合伙人 85 名、注册会计师 386 名， 签署过证券服务业务审计报告的注册会计师 227 名，是国内最具 综合实力的会计师事务所之一。 （二）投资者保护能力 - 1 - 截至 2024 年末，天衡已提取职业风险基金 2,445.10 万元， 购买的职业保险累计赔偿限额为 10 ...

山西杏花村汾酒厂股份有限公司 关于续聘天衡会计师事务所的公告 1.基本信息 | 机构名称 | 天衡会计师事务所（特殊普通合伙） | | --- | --- | | 成立日期 | 2013年11月4日 | | 注册地址 | 南京市建邺区江东中路106号1907室 | | 组织形式 | 特殊普通合伙企业 | | | 许可项目：注册会计师业务（依法须经批准的项 | | | 目，经相关部门批准后方可开展经营活动，具体经 | | | 营项目以审批结果为准） | | | 一般项目：企业管理咨询；财政资金项目预算绩效 | | 经营范围 | 评价服务；财务咨询；税务服务；业务培训（不含 | | | 教育培训、职业技能培训等需取得许可培训）（除 | | | 依法须经批准的项目外，凭营业执照依法自主开展 | | | 经营活动） | | 是否曾从事证券服 | 是 | | 务业务 | | 1 3.业务规模 | | | 2024年度业务收入 | 52,937.55万元 | | --- | --- | --- | --- | | | | 审计业务收入 | 46,009.42万元 | | | | 证券业务收入 | 15,518.61万元 ...

·日常关联交易不影响公司的独立性，公司主要业务没有因关联交易而 对关联方形成依赖 ·日常关联交易事项无需提交公司股东大会审议 一、日常关联交易基本情况 （一）日常关联交易履行的审议程序 证券代码：600809 证券简称：山西汾酒 公告编号：临 2025-011 山西杏花村汾酒厂股份有限公司 关于2025年度日常关联交易计划的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承 担法律责任。 重要内容提示： 山西杏花村汾酒厂股份有限公司（以下简称"公司"或"本公司"） 2025年度日常关联交易计划在提交董事会审议之前，已经独立董事专门会议 审议通过并形成如下意见：2025年度日常关联交易计划属于正常的业务购销 活动，定价合理公允，遵循了公开、公平、公正及诚实信用原则，关联交易 内容和定价政策不会损害公司和中小股东的利益，也不会对公司利润造成不 利影响，符合有关法律法规及公司《章程》的相关规定。同意该日常关联交 易事项。 2025年4月28日，公司召开第八届董事会第七十一次会议审议通过《关于 公司2025年度日常关联交易计划的议案》，关联董事 ...

| 党建引领 | 15 | | --- | --- | | 公司治理 | 16 | | 合规风控 | 17 | | 投关管理 | 20 | | 商业道德 | 22 | 2024 年度环境、社会和公司治理（ESG）报告 1 | 关于本报告 | 01 | | --- | --- | | 董事长致辞 | 03 | | 公司概况 | 05 | | 数说2024 | 09 | | ESG管理 | 10 | | 创新驱动 | 37 | | --- | --- | | 产品和服务安全与质量 | 46 | | 数据安全与客户隐私保护 | 60 | | 供应链安全 | 65 | | 平等对待中小企业 | 68 | | 员工 | ୧୨ | | 社会贡献 | 76 | | 乡村振兴 | 77 | | 行业共建 | 79 | 关于本报告 ESG 代表了环境（Environmental）、社会（Social）、治理（Governance），是区别于财务原则的企业绩效标准和经营方式， 其核心是可持续发展理念。ESG 报告是上市公司进行非财务信息披露的重要组成部分，也是投资者评估企业非财务风险和 可持续发展潜力的重要依据。山西汾酒在自身得 ...

关于山西杏花村汾酒厂股份有限公司 非经营性资金占用及其他关联资金往来情况 汇总表的专项审计报告 目 录 1、 专项审计报告 2、 附表 委托单位：山西杏花村汾酒厂股份有限公司 审计单位：天衡会计师事务所（特殊普通合伙） 联系电话：0358-7329803 关于山西杏花村汾酒厂股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况的专项说明 天衡专字(2025)00510 号 山西杏花村汾酒厂股份有限公司全体股东: 我们接受委托,审计了山西杏花村汾酒厂股份有限公司(以下简称"贵公司")2024年 12 月 31 目的合并及母公司资产负债表,2024年度的合并及母公司利润表、合并及母公司现 金流量表、合并及母公司所有者权益变动表,以及财务报表附注,并出具了天衡审字 (2025)00916 号标准审计报告。 根据中国证券监督管理委员会、公安部、国务院国有资产监督管理委员会、中国银保监 会《上市公司监管指引第 8号 -- 上市公司资金往来、对外担保的监管要求》(证监会公告 [2022]26 号 )的有关要求及上海证券交易所《上海证券交易所上市公司自律监管指南第 2 号 -- 业务办理》的规定,贵公司编制 ...

天衡会计师事务所(特殊普通合伙) 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mof.eov.cn） 关于山西杏花村汾酒厂股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况的专项说明 关于山西杏花村汾酒厂股份有限公司 2024 年度 非经营性资金占用及其他关联资金往来情况的 专项说明 天衡专字(2025)00510 号 天衡专字(2025)00510 号 山西杏花村汾酒厂股份有限公司全体股东: 我们接受委托,审计了山西杏花村汾酒厂股份有限公司(以下简称"贵公司")2024年 12 月 31 目的合并及母公司资产负债表,2024年度的合并及母公司利润表、合并及母公司现 金流量表、合并及母公司所有者权益变动表,以及财务报表附注,并出具了天衡审字 (2025)00916 号标准审计报告。 根据中国证券监督管理委员会、公安部、国务院国有资产监督管理委员会、中国银保监 会《上市公司监管指引第 8号 -- 上市公司资金往来、对外担保的监管要求》(证监会公告 [2022]26 号)的有关要求及上海证券交易所《上海证券交易所上市公司自律监管指南第 2 号 -- 业务办理》 ...

本次会计政策变更系山西杏花村汾酒厂股份有限公司（以下简称"公 司"）根据中华人民共和国财政部(以下简称"财政部")修订的相关会计 准则及相关通知做出的调整，无需提交公司董事会和股东大会审议。 本次会计政策变更不会对公司财务状况、经营成果和现金流量产生 重大影响，不存在损害公司及全体股东利益的情形。 一、本次会计政策变更概述 （一）财政部于 2023 年 10 月 25 日印发了《企业会计准则解释第 17 号》(财会〔2023〕21 号)，其中"关于流动负债与非流动负债的划分"、 "关于供应商融资安排的披露"的内容自 2024 年 1 月 1 日起施行； "关 于售后租回交易的会计处理"的内容自 2024 年 1 月 1 日起施行，允许企 业自发布年度提前执行。 （二）财政部于 2024 年 12 月 6 日印发了《企业会计准则解释第 18 号》(财会〔2024〕24 号)，其中 "关于不属于单项履约义务的保证类质 1 证券代码：600809 证券简称：山西汾酒 公告编号：临 2025-012 山西杏花村汾酒厂股份有限公司 关于会计政策变更的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、 误导性 ...