2025年度报告（英文版）

1Wuliangye Yibin Co., Ltd.Annual Report 2025Chairman of the Board: Hua Tao (acting)April 30, 2026Annual Report 2025 of Wuliangye Yibin Co., Ltd.2Part I Important Notes, Table of Contents and Definitions1. The Board of Directors (or the “Board”) as well as the directors and senior management ofWuliangye Yibin Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee that thecontents of this Report are true, accurate and complete and free of any misrepresentations,misleading statements or material omissions, and collectively and individually accept legalresponsibility for such contents.2. Hua Tao, the Company’s legal representative (acting), Zhang Xin, the Company’s ChiefFinancial Officer, and Liu Min, head of the Company’s accounting department, hereby guaranteethat the financial statements carried in this Report are true, accurate and complete.3. Ten directors were entitled to attend the board meeting for deliberation on this Report. Infact, nine directors participated in the deliberation and voting, while one director was absent. TheChairman of the Board was unable to attend the meeting as he could not duly perform his duties.4. Any future plans, development strategies and other forward-looking statements mentioned inthis 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 possiblerisks. And investors are reminded to exercise caution when making investment decisions.5. The Board of Directors has approved a cash dividend of RMB25.78 (tax inclusive) per 10shares to shareholders based on the total 3,881,608,005 shares held by them, with no bonus issuefrom either profit or capital reserves. Where the Company’s total share capital changes prior to therecord date for the dividend payout, the total distribution amount shall remain unchanged; thedividend per share shall be adjusted accordingly, and details shall be disclosed in the relevantannouncement.6. This Report has been prepared in Chinese and translated into English. Should there be anydiscrepancies or misunderstandings between the two versions, the Chinese version shall prevail.Annual Report 2025 of Wuliangye Yibin Co., Ltd.3Table of ContentsPart I Important Notes, Table of Contents and Definitions........................................................... 2Part II Corporate Information and Key Financial Information................................................... 6Part III Management Discussion and Analysis..............................................................................10Part IV Governance, Environmental and Social Information.....................................................30Part V Significant Events.................................................................................................................48Part VI Share Changes and Shareholder Information................................................................. 52Part