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First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. Stock Code: 000858 Stock Name: Wuliangye Announcement No.: 2026/ No. 007 Wuliangye Yibin Co., Ltd. First Quarterly Report 2026 The Company and all members of its Board of Directors hereby guarantee that the information disclosedherein are true, accurate and complete and free of any misrepresentations, misleading statements or materialomissions.Important information:Yibin Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee that the contents of this Report aretrue, accurate and complete and free of any misrepresentations, misleading statements or material omissions, andcollectively and individually accept legal responsibility for such contents.hereby guarantee that the financial statements carried in this Report are true, accurate and complete. □ Yes ? No □ Applicable ? Not applicableI Key Financial Information(I) Key Accounting Data and Financial Indicators Indicate whether there is any retrospectively restated datum in the table below. Yes □ No Reason for retrospective restatements: □ Change in accounting policy ? Correction of accounting error □ Business combination under commoncontrol □ Other reasons Q1 2025 YoY change (%) Q1 2026 Before Restated RestatedOperating revenue (RMB) 22,838,024,164.27 36,940,356,116.35 17,085,765,657.95 33.67%Net profit attributable to thelisted company’s 8,062,764,940.78 14,860,265,752.48 4,416,313,048.41 82.57%shareholders (RMB)Net profit attributable to thelisted company’sshareholders before non- 8,036,134,136.04 14,861,410,760.60 4,417,458,056.53 81.92%recurring gains and losses(RMB)Net cash generatedfrom/used in operating -2,535,371,232.04 15,848,802,262.24 15,848,802,262.24 -116.00%activities (RMB) First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.Basic earnings per share(RMB/share)Diluted earnings per share(RMB/share)Weighted average return on Up by 3.24equity (%) percentage points December 31, 2025 Change (%) March 31, 2026 Before Restated RestatedTotal assets (RMB) 198,638,173,212.42 189,984,270,815.47 189,984,270,815.47 4.56%Equity attributable to thelisted company’s 127,996,671,799.63 119,932,271,234.99 119,932,271,234.99 6.72%shareholders (RMB) Reason for change in accounting policy and correction of accounting error: The Company reviewed its business model for 2025 and, based on the principle of prudence, adjusted theaccounting treatment related to revenue recognition for certain business operations in 2025. For details, pleaserefer to the Announcement on the Correction of Prior Period Accounting Errors.(II) Non-recurring Gains and Losses ? Applicable □ Not applicable Unit: RMB Item Q1 2026 Note Gain or loss on disposal of non-current assets (inclusive of impairment allowance write-offs) Government grants recognized in profit or loss (exclusive of those that are closely related to the Company"s normal business operations and given in accordance with defined criteria and in compliance with government policies, and have a continuing impact on the Company"s profit or loss) Capital occupation charges on non-financial enterprises that are recognized in profit or loss Non-operating income and expense other than the above -4,074,811.08 Less: Income tax effects 6,649,822.06 Non-controlling interests effects (net of tax) 256,554.69 Total 26,630,804.74 -- Particulars about other items that meet the definition of non-recurring gain/loss: □ Applicable ? Not applicable No such cases for the Reporting Period. Explanation of why the Company reclassifies as recurrent an non-recurring gain/loss item listed in theExplanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to thePublic—Non-recurring Gain/Loss Items: □ Applicable ? Not applicable No such cases for the Reporting Period.(III) Changes in Key Financial Statement Items and Reasons ? Applicable □ Not applicable Unit: RMB Change of Q1 2026 Main reason for the Item Q1 2026 Q1 2025 (restated) on Q1 2025 change First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. (restated) (%)Operating revenue 22,838,024,164.27 17,085,765,657.95 33.67%Net profit attributable to thelisted company’s 8,062,764,940.78 4,416,313,048.41 82.57%shareholders The year-on-yearNet profit attributable to the increases werelisted company’s primarily driven byshareholders before non- lower bases in therecurring gains and losses same period of lastBasic earnings per share year.(RMB/share)Diluted earnings per share(RMB/share) A larger volume of notes received by the Company in theNet cash generated Reporting Period infrom/used in operating -2,535,371,232.04 15,848,802,262.24 -116.00% response to marketactivities changes and a higher base in the same period of last yearII Shareholder Information(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed VotingRights as well as Holdings of Top 10 Shareholders Unit: share Number of preference shareholders with resumed Number of ordinary shareholders at the period-end 676,701 0 voting rights at the period-end (if any) Top 10 shareholders (exclusive of shares lent in refinancing) Sharehold Shares in Nature of pledge, marked ing Restricted Name of shareholder sharehold Total shares held or frozen percentag shares held er e (%) Status Shares State- Yibin Development Holding Group Co., owned Ltd. corporatio n State- owned Sichuan Yibin Wuliangye Group Co., Ltd. 20.65% 801,503,277 corporatio n China Securities Finance Corporation Other 2.25% 87,164,419 Limited Overseas Hong Kong Securities Clearing Company corporatio 2.10% 81,576,415 Limited n Bank of China Limited－China Merchants China Securities Baijiu Index Other 1.62% 62,848,970 Classification Securities Investment Fund State- Central Huijin Asset Management Co., owned Ltd. corporatio n First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. China Construction Bank Corporation－ Penghua China Securities Liquor Other 0.67% 26,159,968 Exchange-traded Open-ended Index Securities Investment Fund Bank of China Limited－E Fund Blue Chip Selected Mixed Securities Other 0.66% 25,680,000 Investment Fund Rui Life Insurance Co., Ltd.－Own Funds Other 0.57% 21,963,862 China Life Insurance Company Limited – Traditional – Ordinary Insurance Product Other 0.51% 19,821,591 – 005L – CT001 Shanghai Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked-up shares of senior management) Unrestricted Shares by class Name of shareholder shares held Class Shares RMB- Yibin Development Holding Group Co., Ltd. 1,336,548,020 denominated 1,336,548,020 ordinary shares RMB- Sichuan Yibin Wuliangye Group Co., Ltd. 801,503,277 denominated 801,503,277 ordinary shares RMB- China Securities Finance Corporation Limited 87,164,419 denominated 87,164,419 ordinary shares RMB- Hong Kong Securities Clearing Company Limited 81,576,415 denominated 81,576,415 ordinary shares RMB- Bank of China Limited－China Merchants China Securities Baijiu Index Classification Securities Investment Fund ordinary shares RMB- Central Huijin Asset Management Co., Ltd. 39,325,400 denominated 39,325,400 ordinary shares China Construction Bank Corporation－Penghua China Securities RMB- Liquor Exchange-traded Open-ended Index Securities Investment 26,159,968 denominated 26,159,968 Fund ordinary shares RMB- Bank of China Limited－E Fund Blue Chip Selected Mixed Securities Investment Fund ordinary shares RMB- Rui Life Insurance Co., Ltd.－Own Funds 21,963,862 denominated 21,963,862 ordinary shares RMB- China Life Insurance Company Limited – Traditional – Ordinary Insurance Product – 005L – CT001 Shanghai ordinary shares Among the top 10 shareholders, Sichuan Yibin Wuliangye Group Co., Ltd. is a wholly-owned subsidiary Related or acting-in-concert parties among the shareholders above of Yibin Development Holding Group Co., Ltd. And the Company is not aware of any related or acting-in-concert parties among the other public shareholders. Top 10 shareholders involved in securities margin trading (if any) Nonerefinancing shares lending: □ Applicable ? Not applicable Changes in top 10 shareholders and top 10 unrestricted public shareholders due to shares lent/returned in First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd.refinancing compared with the prior period: □ Applicable ? Not applicable(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them □ Applicable ? Not applicableIII Other Significant Events □ Applicable ? Not applicableIV Quarterly Financial Statements(I) Financial Statements Prepared by Wuliangye Yibin Co., Ltd. March 31, 2026 Unit: RMB Item March 31, 2026 January 1, 2026 Current assets: Monetary assets 124,259,000,313.65 127,014,443,016.86 Settlement reserve Loans to other banks and financial institutions Held-for-trading financial assets Derivative financial assets Notes receivable 11,163,679.30 4,841,437.44 Accounts receivable 186,892,598.91 37,745,419.51 Receivables financing 20,705,725,822.87 9,401,640,775.74 Prepayments 311,612,649.45 194,996,398.52 Premiums receivable Reinsurance receivables Receivable reinsurance contract reserve Other receivables 72,306,351.61 64,356,368.30 Of which: Interest receivable Dividends receivable Financial assets purchased under resale agreements Inventories 20,139,576,875.04 20,065,336,751.20 Of which: Data resources Contract assets Assets held for sale Current portion of non-current assets Other current assets 7,476,057,642.42 7,968,202,942.10 Total current assets 173,162,335,933.25 164,751,563,109.67 Non-current assets: Loans and advances to customers Debt investments Other debt investments Long-term receivables First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. Long-term equity investments 2,229,514,411.45 2,233,514,411.45 Other equity investments Other non-current financial assets 1,200,000.00 1,200,000.00 Investment property Fixed assets 7,537,530,852.60 7,641,231,013.35 Construction in progress 7,406,318,918.73 7,034,061,137.40 Productive living assets Oil and gas assets Right-of-use assets 411,709,605.10 406,402,594.29 Intangible assets 2,639,071,715.33 2,674,326,878.83 Of which: Data resources Development costs Of which: Data resources Goodwill 1,621,619.53 1,621,619.53 Long-term prepaid expense 110,295,129.91 121,712,293.75 Deferred income tax assets 4,858,654,950.53 4,813,123,125.48 Other non-current assets 279,920,075.99 305,514,631.72Total non-current assets 25,475,837,279.17 25,232,707,705.80Total assets 198,638,173,212.42 189,984,270,815.47Current liabilities: Short-term borrowings Borrowings from the central bank Loans from other banks and financial institutions Held-for-trading financial liabilities Derivative financial liabilities Notes payable 1,532,268,845.90 1,352,014,535.90 Accounts payable 8,367,920,076.56 8,534,820,869.28 Advances from customers 8,424,935.55 13,915,018.07 Contract liabilities 14,138,270,216.02 13,459,591,156.56 Financial assets sold under repurchase agreements Customer deposits and deposits from other banksand financial institutions Payables for acting trading of securities Payables for underwriting of securities Employee benefits payable 3,633,489,040.22 4,319,426,136.50 Taxes and levies payable 2,808,794,666.20 2,093,071,546.91 Other payables 10,540,459,907.84 10,185,754,419.34 Of which: Interest payable Dividends payable 5,565,976,643.61 5,565,976,643.61 Fees and commissions payable Reinsurance payables First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. Liabilities directly associated with assets held for sale Current portion of non-current liabilities 338,919,955.01 364,149,470.84 Other current liabilities 26,284,586,900.35 27,029,072,199.84 Total current liabilities 67,653,134,543.65 67,351,815,353.24 Non-current liabilities: Insurance contract reserve Long-term borrowings Bonds payable Of which: Preference shares Perpetual bonds Lease liabilities 102,184,957.37 44,381,182.44 Long-term payables Long-term employee benefits payable Provisions Deferred income 311,301,798.28 307,239,518.79 Deferred income tax liabilities 92,707,899.25 100,151,115.86 Other non-current liabilities Total non-current liabilities 506,194,654.90 451,771,817.09 Total liabilities 68,159,329,198.55 67,803,587,170.33 Owners’ equity: Share capital 3,881,608,005.00 3,881,608,005.00 Other equity instruments Of which : Preference shares Perpetual bonds Capital reserves 2,684,615,931.26 2,682,980,307.40 Less: Treasury shares Other comprehensive income Specific reserve Surplus reserves 42,948,822,868.25 42,948,822,868.25 General reserve Retained earnings 78,481,624,995.12 70,418,860,054.34 Total equity attributable to owners of the parent company 127,996,671,799.63 119,932,271,234.99 Non-controlling interests 2,482,172,214.24 2,248,412,410.15 Total owners’ equity 130,478,844,013.87 122,180,683,645.14 Total liabilities and owners’ equity 198,638,173,212.42 189,984,270,815.47Legal representative: Hua Tao (acting) Chief Financial Officer: Zhang Xin Head of the accounting department: Liu Min First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. Unit: RMB Item Q1 2026 Q1 2025I Total revenues 22,838,024,164.27 17,085,765,657.95 Of which: Operating revenue 22,838,024,164.27 17,085,765,657.95 Interest income Insurance premium income Fee and commission incomeII Total costs and expenses 12,220,848,061.58 10,963,023,364.44 Of which: Cost of sales 4,240,019,547.18 3,575,965,782.65 Interest costs Fee and commission costs Surrenders Net insurance claims paid Net accrual of insurance liability reserves Expenditure on policy dividends Reinsurance premium expense Taxes and levies 3,728,608,895.16 5,405,179,903.22 Selling expense 3,670,356,443.99 1,494,238,861.87 Administrative expense 994,431,022.43 1,044,414,757.19 R&D expense 121,059,517.95 101,894,061.27 Finance costs -533,627,365.13 -658,670,001.76 Of which: Interest expense 3,241,983.24 5,872,950.39 Interest income 537,133,453.15 665,219,912.83 Add: Other income 43,026,082.31 17,819,866.76 Return on investment (“－” for loss) Of which: Share of profit or loss of joint ventures andassociates Income from the derecognition of financialassets at amortized cost Exchange gain (“－” for loss) Net gain on exposure hedges (“－” for loss) Gain on changes in fair value (“－” for loss) Credit impairment loss (“－” for loss) Asset impairment loss (“－” for loss) 2,056,185.03 Asset disposal income (“－” for loss) 262,253.98 8,306,654.82III Operating profit (“－” for loss) 10,660,464,438.98 6,150,925,000.12 Add: Non-operating income 13,530,869.28 11,133,134.75 Less: Non-operating expense 13,527,755.37 26,079,446.39IV Gross profit (“－” for gross loss) 10,660,467,552.89 6,135,978,688.48 Less: Income tax expense 2,336,687,184.16 1,489,273,953.16V Net profit (“－” for net loss) 8,323,780,368.73 4,646,704,735.32 First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. i. By operating continuity ii. By ownership VI Other comprehensive income, net of tax Other comprehensive income, net of tax attributable to owners of the parent company i. Other comprehensive income that will not be reclassified to profit or loss schemes profit or loss under the equity method credit risk ii. Other comprehensive income that will be reclassified to profit or loss profit or loss under the equity method reclassification of financial assets denominated financial statements Other comprehensive income, net of tax attributable to non- controlling interests VII Total comprehensive income 8,323,780,368.73 4,646,704,735.32 Total comprehensive income attributable to owners of the parent company Total comprehensive income attributable to non-controlling interests VIII Earnings per share: i. Basic earnings per share 2.0772 1.1378 ii. Diluted earnings per share 2.0772 1.1378Legal representative: Hua Tao (acting) Chief Financial Officer: Zhang Xin Head of the accounting department: Liu Min Unit: RMB Item Q1 2026 Q1 2025 I Cash flows from operating activities: Proceeds from sale of goods and rendering of services 13,311,265,445.29 38,234,128,546.72 Net increase in customer deposits and deposits from other banks and financial institutions Net increase in borrowings from the central bank First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. Net increase in loans from other financial institutions Premiums received on original insurance contracts Net proceeds from reinsurance Net increase in deposits and investments of policy holders Interest, fees and commissions received Net increase in loans from other banks and financialinstitutions Net increase in proceeds from repurchase transactions Net proceeds from acting trading of securities Tax and levy rebates Cash generated from other operating activities 497,184,787.44 469,059,184.72Subtotal of cash generated from operating activities 13,808,450,232.73 38,703,187,731.44 Payments for goods and services 3,471,591,309.18 3,815,328,384.40 Net increase in loans and advances to customers Net increase in deposits in the central bank and other banksand financial institutions Payments for claims on original insurance contracts Net increase in loans to other banks and financialinstitutions Interest, fees and commissions paid Policy dividends paid Cash paid to and for employees 3,177,268,397.03 3,351,345,082.62 Taxes and levies paid 7,395,183,760.72 13,563,879,816.10 Cash used in other operating activities 2,299,777,997.84 2,123,832,186.08Subtotal of cash used in operating activities 16,343,821,464.77 22,854,385,469.20Net cash generated from/used in operating activities -2,535,371,232.04 15,848,802,262.24II Cash flows from investing activities: Proceeds from the disposal of investments Return on investment 4,000,000.00 Net proceeds from the disposal of fixed assets, intangibleassets and other long-term assets Net proceeds from the disposal of subsidiaries and otherbusiness units Cash generated from other investing activitiesSubtotal of cash generated from investing activities 20,616,830.34 22,447,707.43 Payments for the acquisition and construction of fixedassets, intangible assets and other long-term assets Payments for the acquisition of investments 37,620,000.00 40,000,000.00 Net increase in pledge loans Net payments for the acquisition of subsidiaries and otherbusiness units Cash used in other investing activitiesSubtotal of cash used in investing activities 384,063,644.15 468,957,997.08Net cash generated from/used in investing activities -363,446,813.81 -446,510,289.65III Cash flows from financing activities: First Quarterly Report 2026 of Wuliangye Yibin Co., Ltd. Capital contributions received 12,000,000.00 Of which: Capital contributions received by subsidiaries from non-controlling interests Borrowings received Cash generated from other financing activities Subtotal of cash generated from financing activities 12,000,000.00 Repayment of borrowings Interest and dividends paid 4,507,561,967.32 Of which: Dividends paid by subsidiaries to non-controlling interests Cash used in other financing activities 70,696,910.56 104,356,504.37 Subtotal of cash used in financing activities 70,696,910.56 4,611,918,471.69 Net cash generated from/used in financing activities -58,696,910.56 -4,611,918,471.69 IV Effect of foreign exchange rate changes on cash and cash equivalents V Net increase in cash and cash equivalents -2,957,514,956.41 10,790,373,500.90 Add: Cash and cash equivalents, beginning of the period 124,114,690,633.67 124,771,274,417.68 VI Cash and cash equivalents, end of the period 121,157,175,677.26 135,561,647,918.58(II) Adjustments to Financial Statement Items at the Beginning of the Year of the FirstImplementation of the New Accounting Standards Implemented since 2026 □ Applicable ? Not applicable(III) Independent Auditor’s Report Indicate whether the financial statements in this Report have been audited by an independent auditor. □ Yes ? No These financial statements are unaudited by such an auditor. The Board of Directors of Wuliangye Yibin Co., Ltd. April 30, 2026
