五粮液集团公司（以下简称公司）是一家以酒业为核心，涉及智能制造、食品包装、现代物流、金融投资、健康产业等领域的特大型国有企业集团。

Wuliangye Group Co., Ltd (the Company) is a mega-size state-owned enterprise (SOE) group with Baijiu as its primary business. The Company is also engaged in the fields of smart manufacturing, food packaging, modern logistics, financial investment, health and wellbeing.

其主导产品五粮液酒历史悠久，文化底蕴深厚，是中国浓香型白酒的典型代表与著名民族品牌，多次荣获“国家名酒”称号，并首批入选中欧地理标志协定保护名录。2019年，公司销售收入突破1000亿元；2020年，五粮液市值突破万亿。五粮液品牌价值逐年攀升，名列“Brand Finance2022全球品牌价值500强”、2022年“全球最具价值烈酒品牌50强”、2022年“中国500最具价值品牌”。

The signature product—Wuliangye—has a long history and profound culture. Wuliangye represents China’s strong aromatic Baijiu and has been accredited as National Famous Liquor. Wuliangye is enlisted into the first batch of products protected under the landmark China-EU Agreement on Geographical Indications Agreement. Sales of the Company in 2019 exceeded 100 billion CNY. Market capitalization of the Company in 2020 exceeded one trillion CNY. In 2022, the Company is on the list of “Brand Finance Global 500 2022” “Brand Finance Spirits 50 2022” and “China’s 500 Most Valuable Brands”.

生态环境。公司总部位于有四千多年酿酒史的世界十大烈酒产区之一、长江首城、中国酒都宜宾，自然环境优越，三江生态得天独厚，冬无严寒，夏无酷暑，霜雪稀少，雨水充沛，年平均温度在17.9℃左右，生物丰富多样，特别适宜酿酒微生物的繁衍生息，被联合国教科文及粮农组织誉为“在地球同纬度上最适合酿造优质纯正蒸馏白酒的地区”。

Sound eco-environment. The Company headquarters at the City of Yibin, a region with 4000 years’ history of liquor production and one of the world’s ten spirit production areas. The City of Yibin is renowned as the “first city along the reaches of the Yangtze River” and “the capital of Chinese Liquor”. Endowed with sound eco-environment, Yibin is situated at the confluence of three major rivers with mild winter and summer. Yibin is free of frost and snow with sufficient precipitation, an average annual temperature of 17.9oC and rich bio-diversity, and is a perfect environment for the microorganism used for Baijiu-making to live and reproduce. The area has been accredited by UNESCO and UNFAO as “the most suitable area for the production of high-quality pure distilled liquor in the same latitude on earth”.

历史传承。五粮液酒是公司主导产品，以高粱、大米、糯米、小麦、玉米五种精细谷物为原料，以古法工艺配方酿造而成，是世界上率先采用五种粮食进行酿造的烈性酒。其多粮固态酿造历史传承逾千年，自盛唐时期的“重碧酒”即开始采用多粮酿造，公元765年，大诗人杜甫途经宜宾，当地最高行政长官杨使君在东楼设宴，以重碧酒款待，杜甫饮后赞叹不已，写下了《宴戎州杨使君东楼》：“胜绝惊身老，情忘发兴奇。座从歌伎密，乐任主人为。重碧拈春酒，轻红擘荔枝。楼高欲愁思，横笛未休吹。”公元782年，经唐德宗下诏，重碧酒正式成为官方专供酒（郡酿）。

Renowned history and tradition. Wuliangye Baijiu is the company’s signature product that is made from five grains of sorghum, rice, glutinous rice, wheat, and corn with ancient craft and recipes. Wuliangye is the earliest spirit in the world produced with five grains. The multi-grain solid fermentation process has been passed down for a thousand years, dating back to Zhongbijiu (Zhongbi liquor)produced with multiple grains in the prime Tang Dynasty. In the year 765, the great poet Du Fu passed by the City of Yibin. Yang Shijun, the then Governor of Rongzhou Prefecture, received him and treated him with Zhongbijiu (Zhongbi liquor) at the East Pavilion. Du Fu spoke highly of the liquor and wrote a poem—Banquet with Rongzhou Prefect Yang Shijun at East Pavilion. In the poem, he writes: “Dining at Eastern Tower with Prefect Yang of Rongzhou Prefecture; What I, an old man, come across knock me off my feet. I’m beyond myself in getting ecstatic. Geishas cozy up to guests in the seats. Entertainment is directed by the host as he will. Spring brew I pick up is darkish green. Lychees I break open are light red. At this high tower, sadness threatens to creep in. Music of flutes continues to play on.” In 782, Emperor Dezong of the Tang Dynasty issued an imperial edict and announced Zhongbijiu as official customized liquor (liquor of the prefecture).

北宋时期，宜宾大绅士姚君玉开设姚氏酒坊，在重碧酒的基础上，经过反复尝试，用大米、高粱、糯米、荞子和小米五种粮食加上当地的安乐泉水酿成了姚子雪曲。公元1098年，北宋著名文学家黄庭坚时任涪州别驾，居戎州（今宜宾），与当地名士多有交游，把酒言欢，写下了《安乐泉颂》盛赞姚子雪曲：“姚子雪曲，杯色争玉。得汤郁郁，白云生谷。清而不薄，厚而不浊。甘而不哕，辛而不螫。老夫手风，须此神药。眼花作颂，颠倒淡墨”。

In the North Song Dynasty, Yao Junyu, a gentlemen of great renown in the City of Yibin, building on the formula of Zhongbijiu, made Yaozixuequ after numerous trials. Yaozixuequ was made of five grains including rice, sorghum, glutinous rice, buckwheat and millet with water of Anlequan (Anle Spring). In 1098, famous literati Huang Tingjian of the North Song Dynasty took the position of Vice-prefect of Fuzhou and lived in Rongzhou (City of Yibin). He befriended many local men of literary reputation and liked to join them for a taste of liquor. He wrote a poem—Ode to Anlequan—to praise Yaozixuequ. In the poem, he writes: “Crystal-clear Yaozixuequ competes with the beauty of jade. Her vapor is as exquisite as clouds in the valley. Utterly pure and clear as she tastes, she still brings on profound layers of mellowness. Gracefully sweet and spicy as she tastes, she is free of greasiness and pungency. A shot of Wuliangye is a cure to gout in my arm. I am an old man and with my blurred vision, I write this poem.”

明初，陈氏家族创立“温德丰”酒坊，融合姚子雪曲酿制精要，将原五粮配方中的小米替换为当时新从海外引进的玉米，最终形成了更趋完美的“陈氏秘方”。

In the early Ming Dynasty, Chen’s Family founded Wendefeng Distillery and combined the essence of Yaozixuequ and replaced millet with newly imported corn from overseas for a new combination of five grains. A refined Chen’s secret recipe was hence created.

清末，邓子均继承“温德丰”酒坊后，将其改名为“利川永”；1909年，邓子均携酒参加当地名流宴会，晚清举人杨惠泉品尝后说：“如此佳酿，名为杂粮酒，似嫌凡俗，姚子雪曲名字虽雅，但不足以反映韵味，既然此酒集五粮之精华而成玉液，何不更名为五粮液？”言毕，举座为之喝彩，邓子均欣然采纳，五粮液自此正式得名。

In the late Qing Dynasty, Deng Zijun inherited Wendefeng Distillery and changed its name as Lichuanyong.In 1909, Deng Zijun attended a banquet of local celebrities with the liquor. Yang Huiquan, a scholar in the late Qing Dynasty, tasted and appraised the liquor to be superb. Yang Huiquan suggested that the name of Zaliangjiu seemed to be vulgar, and although the name of Yaozixuequ was elegant enough, it was still a step away from fully reflecting the flavor of the liquor. Since the liquor was produced with essence of five grain, he suggested the change of name to Wuliangye. His suggestion was warmly applauded by people present at the banquet. Deng Zixin willingly accepted and Wuliangye was thus officially named.

1952年，长发升、利川永、刘鼎兴、天锡福、张万和、全恒昌、听月楼、钟三和等8家宜宾最著名的古传老酒坊，组建成立联营社，1954年，邓子均献出陈氏秘方，并出任技术指导；1959年，更名为五粮液酒厂。

In 1952, eight distilleries which was the most famous traditional ones in Yibin including Changfasheng, Lichuanyong, Liudingxing, Tiancifu, Zhangwanhe, Quanhengchang, Tingyuelou and Zhongsanhe merged. In 1954, Deng Zijun contributed Chen’s secret recipe and took the role as technical supervisor. The joint venture was renamed Wuliangye Distillery in 1959.

1963年，五粮液首次参加全国评酒大会，此次评酒会采用混合编组、密码编号，对所有参评白酒不分香型进行盲评，因会议规格之高、涵盖酒样之多、覆盖范围之广、评判标准之严远超以往，被广泛认为是真正意义上的第一次全国性评酒会。

In 1963, Wuliangye attended the national liquor appraisal conference for the first time. At this conference, liquors of different aromas were mixed, coded, appraised and rated (blind tasting). The conference is believed to be China’s first real liquor appraisal conference as it was held at the national level, covered a wide variety of liquor, engaged a large area and adopted higher standards than ever before.

会上，专家高度赞赏五粮液酒“香气悠久，味醇厚，入口甘美，入喉净爽，各味谐调，恰到好处，尤以酒味全面而著称”，因与九百多年前黄庭坚对五粮液前身“姚子雪曲”的评价高度契合，而成酒业佳话。

Experts at the conference appraised Wuliangye as “long-lasting aroma, mellow taste, well-balanced sweet in the mouth, refreshing in the throat, harmonious and just-right flavors”. This appraisal was highly consistent with Huang Tingjian’s assessment of Yaozixuequ 900 years ago, thus making Wuliangye a much-told story in the liquor industry.

最终五粮液在众多白酒品类中脱颖而出名列第一，被国家轻工业部授予“国家名酒”称号，与古井贡酒、泸州老窖特曲、全兴大曲、茅台、西凤酒、汾酒、董酒一同被业界称为“老八大名酒”，并在其后连续三届的全国评酒会中以稳定如一的高品质蝉联国家名优白酒金质奖章。

Wuliangye stood out and won the first prize among many varieties of Baijiu and was accredited by the then Ministry of Light Industry as National Famous Liquor. Wuliangye was named as “Time-honored Eight Famous Liquor” together with Gujinggongjiu, Luzhoulaojiao Tequ, Quanxingdaqu, Maotai, Xifengjiu, Fenjiu and Dongjiu. In the next three consecutive national liquor appraisal conferences, Wuliangye, with its high top-ranking quality, won the golden award for national quality and famous Baijiu.

1978年，著名数学家、中国科学院数学研究所原所长华罗庚指导公司运用优选法和统筹法开展实验，在成功研制出低度五粮液后，欣然题诗纪念：“名酒五粮液，优选味更醇；节粮五百担，产量添五成。豪饮李太白，雅酌陶渊明；深恨生太早，只能享老春。”

In 1978, Hua Luogeng, famous mathematician and former Director of the Institute of Mathematics of the Chinese Academy of Sciences guided the Company in a series of experiments using the methodologies of optimization and overall planning. After successfully producing low-alcohol Wuliangye, Hua Luogeng wrote a poem in memory of the breakthrough: “Wuliangye tastes even purer after optimization. Wuliangye increases output by 50% while using only half the raw materials. Li Bai and Tao Yuanming, two great poets and lovers of Baijiu, have not the chance the taste the best Wuliangye as they were born too early.”

1972年, 白酒勾调鼻祖与创始人、五粮液酒厂总技师范玉平针对不同产品风格特点，以酒调酒，独创“缓冲、烘托、平衡”的“范氏勾调技术”，得到国家商业部、轻工部高度重视，被行业广泛借鉴、全面应用；1989年,公司与中科院共同研发计算机勾调专家系统,实现了计算机数据化与人工感官化的有机结合,大幅提升了勾调效率和产品质量, 荣获国家商业部重大科技成果二等奖，被业界誉为“勾调双绝”。

In 1972, Fan Yuping, founder of Baijiu blending and Chief Technician of Wuliangye Distillery, created Fan’s blending technology based on his analysis of the features of different products. Fan’s blending technology makes the best of its advantages and avoids it shortcomings for the greatest balance of tastes. Fan’s creation was greatly recognized by the then Ministry of Commerce and Ministry of Light Industry and was widely utilized by the industry as a reference. In 1989, the Company cooperated with the Chinese Academy of Sciences to develop the computer-aided blending expert system, a synergy of computer-aided digitization and human senses. Blending efficiency and product quality were greatly upgraded, thus winning National Award for Major Science and Technology granted by the Ministry of Commerce. Wuliangye has been renowned in the industry for its superb blending and mixture.

从上世纪 60 年代起的数十年间，历经五次大规模扩建，五粮液形成了气势恢宏的“十里酒城”。1995年，五粮液、长虹、一汽等企业因销售总额、利税总额两项指标均居全国同行业第一，分别被国家统计局、第50届国际统计大会中国组委会、中国技术进步评价中心联合授予“中国酒业大王”、“中国彩电大王”、“中国汽车大王”称号；1998年，五粮液酒厂改制为五粮液集团公司和五粮液股份公司；同年，股份公司在深圳证券交易所挂牌上市；2020年，股份公司被国家农业农村部、发改委等八部委评定为农业产业化国家重点龙头企业。

During the decade starting from the 1960s, Wuliangye built up “a liquor city that stretches kilometers” after five large-scale expansion. In 1995, two major indicators, sales revenue and taxation of profits, of Wuliangye, Changhong, FAW, ranked No. One in their respective fields. Wuliangye, Changhong, and FAW were thus accredited by National Statistics Bureau,the 50th Chinese Organizing Committee of International Statistics Conference and China Assessment Center as “Top Baijiu in China”, “Top Color TV in China” and “Top Automobile in China”. In 1998, Wuliangye Distillery was reformed into Wuliangye Group Co., Ltd and Wuliangye Yibin Co., Ltd. In the same year, Wuliangye Yibin Co., Ltd was listed at Shenzhen Stock Exchange. In 2020, Wuliangye Yibin Co., Ltd was accredited by eight ministries and commissions including Ministry of Agriculture and Rural Affairs of China and National Development and Reform Commission as national flagship enterprise in agricultural industrialization.

目前，集团公司拥有两家A股上市公司（000858五粮液和600793宜宾纸业），股份公司现有10万吨纯粮固态原酒年产能力和100万吨原酒储存能力。其中，最大的白酒酿造车间年产能力达4万吨，产业园区规划面积18平方公里，被评为国家AAAA级旅游景区。

Wuliangye Group has two A-share listed companies (000858 Wuliangye Yibin and 600793 Yibin Paper Industry).The Company has an annual production capacity of 100,000 tons of Baijiu using solid fermentation technology for the process and pure grain as raw materials and an annual storage capacity of one million tons of raw liquor. The annual production capacity of the largest Baijiu distillery registers at 40,000 tons. The planned size of the industry park is 18 km2. The Company is accredited as a National AAAA-rated Scenery.

生产工艺。公司始终守护“中华老字号”荣誉，在五粮液酒的生产过程中，依托系统工程和中国五行哲学原理，遵守“道法自然、古今恒通、传承发展、匠心善工”的传统技艺，坚持“料必优、时必适、工必到、法必精”的古训，秉持“优质、高产、低耗、均衡、安全”的现代化生产理念，总结提炼出“种、酿、选、陈、调”美酒五字诀，形成了酒体内在的协同作用和外在的益生效应。

Processing techniques. The Company has honored and safeguarded the title of “China’s Time-honored Brand”. During production, Wuliangye follows the science of systematic engineering and the philosophical doctrines of five elements. Traditional processing techniques including the Taoist doctrine, inheritance of fine tradition and craftsmanship have been observed. Time-honored principles of selecting the best raw materials, perfect timing, delicate techniques and methodologies have been followed. Modern production philosophy featuring quality, high-yield, low energy consumption, balance and safety has been followed. With all that, the five-character secrets, namely, seeding, Baijiu-making, selection, aging, and blending were created, boosting synergy within the Baijiu and the also its prebiotic effect.

“种”。“粮为酒之本”，好酒是酿出来的，更是“种”出来的。粮食种植是酿造高品质美酒的重要环节之一——五粮液地处北纬30°黄金酿酒带，精选五谷入酒，高粱产酒清香味正、大米产酒醇和甘香、糯米产酒纯甜味浓、小麦产酒曲香悠长、玉米产酒喷香尾甜，合成各味谐调的完美口感。为确保原粮品质，以宜宾为核心、四川为主体，兼顾国内部分优质产区，五粮液在全国范围内升级建设专用粮基地百万亩，种植酿酒所需专用粮。通过对育、种、收、储、运、交各环节标准化、精准化、智慧化的科学管理，全面提升酿酒原粮品质，实现“从一粒种子到一滴美酒”的全过程100%可溯源,持续酿造高品质美酒，满足消费者对美好生活的追求。

Seeding. Grains are the essence of Baijiu. Baijiu-making is the cornerstone of high-quality liquor. Selection of seeds holds the key to the quality. Grain production is one of the vital links of high-quality liquor producing. Wuliangye, situated at the golden liquor producing belt of 30° north latitude, carefully selects five grains and blends the aroma of the five grains into perfect flavor—sorghum for the sweet and pure fragrance, rice for the aromatic mellowness, glutinous rice for the pure and sweet profoundness, wheat for the long-lasting balminess of the yeast and corn for the dispersive sweet base note. To ensure the highest quality of the source grains, Wuliangye builds up a nationwide production base of Baijiu-making grains with an area of with millions of square kilometers. The base has its core zone in Yibin City and also its main area in the wider Sichuan Province. Major quality production zones in China are also integrated into the base. Via standardized, precision and smart management of all links including cultivation, seeding, harvesting, storage, transport and delivery, source grain quality has been upgraded. As such, 100% full-process traceability from “a seed to a drop of Baiiu” is guaranteed, which ensures uninterrupted production of high-quality Baijiu to satisfy our consumers’ pursuit of a better life.

“酿”。“千年老窖万年糟，酒好须得窖池老。”作为浓香型白酒不可复制的核心优势资源，公司拥有一大批连续发酵不间断使用的窖池群，最早始于1368年（明初洪武元年）的五粮液古窖池群，活态酿造延续至今，不间断生产时间长达655年，是全国重点文物保护单位；五粮液窖池群及酿酒作坊被列入“国家工业遗产”，并入选中国世界文化遗产预备名单；五粮液地穴式曲酒发酵窖古窖泥中含有丰富的功能微生物，通过“以糟养窖，以窖养糟”长期不间断的迭代进化，赋予了五粮液经典幽雅的古窖浓香。五粮液明初古窖泥被中国国家博物馆永久收藏，是国家博物馆目前收藏的唯一一件“活文物”。

Baijiu-making. Millennium fermentation pits and 10,000-year-old fermented grains make the best Baijiu. Strong aroma Baijiu is a core resource that endows unreplicable advantages to the Company. The Company also boasts a large number of fermentation pits that have been utilized uninterruptedly. Wuliangye’s time-honored fermentation pit cluster built in 1368 (first year of Hongwu Reign of the early Ming Dynasty) is still in use for producing Baijiu uninterruptedly for 655 years. The cluster is enlisted as Important Heritage Site under State Protection. Wuliangye’s fermentation pit cluster and distilleries have been listed as “National Industrial Heritage and on the Tentative List of UNESCO World Cultural Heritage Sites in China. Wuliangye’s crypt-like ancient yeast fermentation pit is a permanent collection of the National Museum of China and is the only “living heritage” collected in the Museum. Rich functional microorganism lives in the time-honored pit mud. With the pit and fermented grains reinforcing and enriching each other, Wuliangye has been endowed with the classical and elegant strong aroma.

从选粮配料、磨粉制曲、酿造发酵至开窖取酒，五粮液酒的酿造时间周期长、操作要求细、控制难度大、生产成本高，尤其是在酿造发酵阶段，需经过“跑窖循环”“续糟发酵”“沸点量水”“分层起糟”“混蒸混烧”等多道极其复杂工序，每轮次发酵时间就需70天，双轮发酵达140天，发酵期在各香型白酒生产中历时最长，其传统酿造技艺被认定为国家级非物质文化遗产。

Production of Wuliangye takes a long cycle from the selection of grains, grinding of yeast and making of starter, to production and selection, with high requirements on operation and control, leading to high cost especially in the production and fermentation stage. Multiple extremely complicated processes are followed, including pit-to-pit circulation of the fermented grain, continual use of fermented grain, raised water temperature to 100oC for better mix of water and steamed grains during fermentation. Grains are classified based on their quality and put into the pits in different layers. They are then removed from the pits after fermentation. Each cycle takes 70 days and thus 140 days for the dual cycle. Compared with other Baijiu of all aromas, Wuliangye has the longest cycle of fermentation. Traditional Baijiu-making technology of Wuliangye has been accredited as National Intangible Cultural Heritage.

“选”。坚持“分级甄选、优中选优”，精细化识别原酒酒液色、香、味、格的差异，通过“掐头去尾”“量质摘酒”“按质并坛”等精准化操作，由具有丰富经验的专业技师对精酿原酒边尝边摘，严格根据感官、理化等指标，细分原酒等级，确保口感和品质最上乘的原酒才能用作生产“五粮液”，这种可生产五粮液的原酒在所有原酒中的比率称之为“名酒率”。随着窖池老熟程度的提升，名酒率也会不断提升，最高可达50-60%。

Selection. Wuliangye selects only best of the best via layered classification. The color, aroma, taste and quality of the raw liquor are analyzed and identified meticulously and precisely. The first and last batch of distilled liquor are excluded. Only quality liquor is finally selected, jarred and stored. Experienced technicians taste while select the raw liquor and classify the raw liquor into multiple grades pursuant to sensory, physical and chemical indicators,  making sure that only the raw liquor with best flavor and quality is selected for the blending of Wuliangye. The ratio of such best raw liquor to all the raw liquor is named "Rate of Famous Liquor" . With the aging of fermentation pits, “Famous Liquor Ratio” will continue to increases, up to 50-60%.

“陈”。选取特制陶坛存放原酒，在暗光、温度与湿度波动小的环境下保存。通过陶坛壁上细微孔隙，刺激性物质不断挥发，酒质进一步提升，氧气进入坛内与酒分子发生缓慢的陈化反应，经过3-5年的存放，酒分子与香味物质和谐交融，酒体充分成熟，陈香更幽雅，窖香更浓郁，口感更加醇厚丰满、细腻圆润。

Aging. Tailor-made pottery jars are selected for the storage of raw liquor and put in dark places with little fluctuation of humidity and temperature. Micro pores on the jars allow stimulating substances to evaporate and further improve the quality of liquor. Oxygen thus enters the jar and slowly maturates with the molecules. After 3-5 years’ storage, molecules and aromatic substances fully incorporate and maturate, bringing on more profound and elegant aroma and pure and rich tastes.

“调”。首创“以酒调酒”的勾调工艺，拒绝添加其他任何非自然固态发酵产生的外来物质，按照酒体设计要求和质量标准，从视觉、嗅觉、味觉等方面，根据原酒的感官特征和理化数据，通过组合、调味两大工序，对不同车间、不同窖池、不同窖龄、不同酒龄、不同级别、不同酒度、不同个性特征的基础酒进行不同的排列组合，并通过对组合酒感官特征的科学分析，加入不同的调味酒，对微量香味成分进行综合平衡，保证并稳定五粮液各味谐调又恰到好处的酒体风格。

Blending. Wuliangye creates the blending technology using liquor to blend liquor and refuses the use of any additives, which are not substances generated from natural solid state fermentation. Pursuant to the requirement of design and quality of Baijiu and according to sensory, physical and chemical indicators of Baijiu, base liquor from different workshops and pits with different years of storage and producing at different grades and alcohol concentration are arranged and combined. After combining and blending, scientific analysis is conducted on the sensory features of the combinations. Seasoning liquor is then added to meticulously balance aromas, ensuring and stabilizing the style of Wuliangye to be balanced and right to the point.

产品体系。公司致力于在全球范围内打造品类齐全的酒类品牌组合，产品覆盖39°、45°、52°、56°、60°、68°、72°等高中低各酒度，形成满足不同层次消费者需求的全产品供应链体系：

Product portfolio. The Company is dedicated to building a complete combination of liquor varieties worldwide and covers liquor from low-alcohol to high-alcohol concentration, namely, 39o, 45o, 52o, 56o, 60o, 68o, and 72o. A complete product supply chain has been built for the demand of consumers of all types.

 一是五粮液主品牌系列，包括以第八代五粮液为代表的代际系列，以501五粮液为代表的古窖系列，以经典五粮液为代表的年份系列，以生肖造型酒为代表的文化定制系列；

1) Master brand products: generation-specific Wuliangye with the eighth-generation Wuliangye as the signature product; super high-end Baijiu series produced from fermentation pits built in the Ming Dynasty, with 501 Wuliangye as the signature; vintage Baijiu series with the classic Wuliangye as the signature and cultral customized Baijiu series with Chinese Zodiac Wuliangye as the signature ; 

 二是五粮浓香酒品牌，包括以五粮春、五粮醇、五粮特曲、尖庄为重点的四个全国性战略大单品，以五粮头曲、五粮人家、友酒、百家宴、火爆为补充的区域重点品牌；

2) Wuliang Strong aromatic Baijiu brands including National Strategic Products with Wuliangchun, Wuliangchun, Wuliangtequ, Jianzhuang as the keystone; Regional Key Brands with Wuliangye Touqu, Wuliang Renjia, Youjiu, Baijiayan and Huobao as the supplement. 

三是仙林生态品牌，包括以仙林品牌为代表的草本露酒，以百麓、舒醺、小酌时光品牌为代表的特色果酒，以亚洲品牌为代表的原汁灌装葡萄酒。

3) Fantasy Forest ecological brands including herbal wine with Fantasy Forest brands as the signature; fruit wine with Bailu, Shuxun, Xiaozhuoshiguang as the signature and red wine with Asia brands as the signature.

市场营销。公司秉持“消费者驱动，平台化运营，数字化支撑”的营销理念，布局全球市场体系。国内市场覆盖七大营销大区、21个营销战区、58个营销基地；国外市场在欧洲、美洲、亚太等多地设立国际营销中心，产品直接销往国外56个免税店，分销业务覆盖100余个国家和地区。构建“线下+线上”多维度渠道体系，线下全面覆盖运营商、专卖店、KA商超、终端零售店，线上铺设五粮液云店网络，创新应用“数字酒证”，拓展“新零售”，依托数字化平台链接经销商、终端、消费者。

Marketing. Wuliangye adopts the marketing principle that development should be driven by consumers and facilitated via the building of platforms and digitization. The Company has established a global marketing system. Domestic market of the Company consists of seven marketing regions, 21 marketing divisions and 58 marketing bases. While the overseas market consists of international marketing centers in Europe, America, the Asia Pacific region and many other areas of the world. Products of the Company are sold directly to 56 duty-free shops and to over 100 countries and regions via its distribution network. The Company has set up a multi-dimensional channel combining on-line and off-line sales. For off-line sales, products are sold in distributor and specialty stores, Key Account supermarkets and chain stores, and retail stores. For on-line sales, the Company has set up a cloud store network and created the “digital liquor license”. A new retail model has been adopted to connect with distributors, terminals and consumers via the digitized platform.  

专业技术。公司拥有中国酿酒大师、中国首席白酒品酒师、国家级白酒评委等国家级行业领军人物64人，省级骨干人才67人，市级中坚人才517人，酒类技术技能人才4000余人组成的人才梯队。五粮液产业园区内建有中国轻工业浓香型白酒固态发酵重点实验室、国家白酒产品质量检验检测中心、国家酒类品质与安全国际联合研究中心（白酒分中心）、国家企业技术中心、国家级工业设计中心等多个国家级技术创新平台及院士工作站、博士后科研工作站。公司现为中国轻工业联合会特邀副会长单位、中国国际商会副会长单位、APEC中国工商理事会理事单位、博鳌亚洲论坛理事会机构理事，及中国质量协会、中国酒业协会、中国食品工业协会、中国酒类流通协会、中国上市公司协会等多个国家级专业协会副会长或副理事长单位。

Expertise. The Company is proud to have 64 state-level experts who are leading in the industry including Chinese Baijiu-making master, Chinese Chief Baijiu Taster, National-level Baijiu Judge and others. Besides, the Company clusters 67 provincial-level and 517 municipal-level backbone talents and 4000 plus technicians specializing in Baijiu-making. In the industry park, there are multiple national technology innovation platforms, academician’s workstations and post-doctoral workstations including China Light Industry Strong Aromatic Baijiu Solid Fermentation Key Lab, National Liquor Product Quality Supervision and Inspection Center, National Liquor Quality and Safety International Joint Research Center (Baijiu Sub-centre), National Enterprise Technology Center and others. The Company is invited vice-chairman-level members of China National Light Industry Council, vice-chairman-level member of China Chamber of International Commerce, member of the board of APEC China Business Council and Board of Directors of Boao Forum for Asia and vice-chairman-level or vice-president-level members of multiple national professional associations including China Association for Quality, China Alcoholic Drinks Association, China National Food Industry Association, and also China Alcoholic Drinks Circulation Association, China Association for Public Companies and others.

质量管理。秉持“质量是企业的生命，匠心酿好每一滴酒”的质量理念和“集五粮精华，守百年匠心，唯求完美酿造，永树品质标杆”的质量方针，建立并实施严于国家标准的企业标准，构建“从一粒粮食到一滴美酒”的产品全生命周期质量管理体系，以对产品品质的坚守满足消费者对高品质生活的向往，先后获得亚洲质量卓越奖、中国最佳诚信企业、国家质量管理奖、全国质量奖、全国质量标杆奖等荣誉，是白酒行业内唯一四度荣获中国质量领域权威奖项的企业。

Quality management. The Company upholds the principle for quality management that quality is the life of businesses and every drop of Baijiu should be the yielding of craftsmanship. The purpose is to produce the perfect Baijiu and follow the strict quality standards. The essence of five grains and the centennial craftsmanship should always be the pursuit of the Company. The Company has written and implemented corporate standards higher than national ones and has built up a full life-cycle product quality management system covering every link from grain to liquor. The Company is committed to delivering high quality products to consumers in their pursuit of quality life. The Company has been awarded international and national merits including ANQ Asian Quality Excellence Award, Most Credible Chinese Enterprise, National Quality Management Award, National Quality Award, National Quality Management Benchmark and others. Wuliangye is the only Baijiu enterprise that has won top Chinese quality awards for four times.

社会责任。着眼于社会的可持续发展，牢记“弘扬历史传承，共酿和美生活”使命，坚持生态优先、绿色发展，带头倡导和践行碳中和文化，以创建“零碳酒企”“零碳园区”为目标，推进能源绿色化、资源低碳化，打造行业领先的循环经济示范基地，建设滨江生态保护区和生态湿地公园，促进人与自然和谐共生，助力长江上游生态屏障保护和环境治理，被评为全国首批“循环经济试点单位”。设立五粮液慈善基金会，积极投身抗震救灾、精准扶贫、乡村振兴、教育助学、拥军爱军等社会公益事业。作为中国酒业协会酒与社会责任促进工作委员会轮值主席单位，积极倡导适量饮酒、理性饮酒，先后荣获“人民企业社会责任奖”“中国食品企业社会责任金鼎奖”“社会责任百强企业”等称号。

Corporate social responsibility. Wuliangye bears in mind its mission to promote fine traditions and create harmony in life for sustainable development of the society. Wuliangye has adhered to eco-friendly and green development policies and takes the lead in promoting and exercising carbon neutrality. The target is to build a “zero-carbon” enterprise and industry park and a circular economy demonstration base that is leading in the industry for green and low-carbon energy and resource consumption. To promote harmonious coexistence of man and nature, Wuliangye has built a riverside protected area and wetland park to protect the ecological barrier and improve the environment of the upper reach of the Yangtze River. Wuliangye has been enlisted in China’s first batch of circular economy pilot entities. The Company has set up Wuliangye Charity Fund for the purposes of earthquake relief and reconstruction, targeted poverty eradication, rural revitalization, culture and education, armyman support and other public welfare undertakings. As the rotating chairman-level member of the Liquor and Social Responsibility Working Committee of China Alcoholic Drinks Association, Wuliangye campaigns moderate drinking and healthy lifestyle and extensively promotes the prohibition of drinking among minors and excessive drinking. Wuliangye has also launched campaigns against driving under the influence of alcohol and encouraged healthy and responsible drinking. Wuliangye has been accredited as “People’s Enterprise with Social Responsibility”, “Corporate Social Responsibility Jinding Award for Chinese Food Enterprises”, “Top 100 Enterprises of Social Responsibility” and others.

发展路径。围绕“十四五”发展目标，五粮液以生态为底色、品质为核心、文化为支撑、数字为动能、阳光为保障，全力打造“生态、品质、文化、数字、阳光”五位一体持续稳健高质量发展的现代化企业。具体来说，一要大力打造生态化园区，坚持提供生态化产品，全面实现生态化生产，树立中国白酒行业生态化发展标杆；二要升级建设纯粮固态酿酒基地，持续完善品质管理体系，不断提升五粮液名酒率，树立中国白酒行业品质建设标杆；三要厚植品牌文化底蕴，深挖品牌文化内涵，创新品牌文化传播，树立中国白酒行业文化建设标杆；四要打造一流的数字营销体系、数字管理体系和数字业务体系，树立中国白酒行业数字化转型标杆；五要不断提升企业治理能力和水平，健全公平公正公开的选商、扶商、优商、惠商机制，树立中国白酒行业现代治理标杆。

Development strategy. Centering on the development goals of the 14th Five-year Plan, Wuliangye adopts a strategy to focus on eco-friendliness, quality, culture, digitization and integrity as the basis, core, support, growth driver and guarantee, and endeavors to build a modern corporate with the “five-in-one” philosophy (eco-friendliness, quality, culture, digitization and integrity) for sustainable, stable and high-quality growth of a world-class enterprise.To be specific, there are five pathways:

1) Build an eco-friendly industry park and deliver eco-friendly products. Realize holistic eco-friendly production to set up an ecological development benchmark for China’s Baijiu industry.

2) Upgrade the pure grain solid fermentation base and continuously improve the quality management system. Increase the "rate of famous liquor" of Wuliangye products accredited as famous Baijiu to set up a high-quality development benchmark for China’s Baijiu industry.

3) Strengthen the cultural profoundness of the brand and fully tap the potentials of the brand culture. Innovate brand culture communication and marketing channels to set up a culture-driven development benchmark for China’s Baijiu industry.

4) Create a first-class digital marketing system, management system and business system to set up a digital transformation benchmark for China’s Baijiu industry.

5) Constantly upgrade the corporate governance capacity and competency and optimize the mechanism to ensure openness and fairness in the selection and empowerment of distributors to set up a modern corporate governance benchmark for China’s Baijiu industry.

在新的奋斗征程上，五粮液将大力践行“和美种植”“和美酿造”“和美勾调”“和美营销”“和美文化”，讲好中国白酒故事，持续满足消费者对美好生活的向往需求，进一步擦亮“大国浓香、和美五粮、中国酒王”金字招牌，加快建设产品卓越、品牌卓著、创新领先、治理现代的世界一流酒企。

Embarking on a new journey, Wuliangye will exercise the notion of harmony reflected in the full process of planting, Baijiu-making, blending, and marketing for the culture harmony to be deeply rooted. Wuliangye will fully explore and tell well the Chinese Baijiu story and constantly satisfy our consumers’ pursuit of a better life. Wuliangye’s golden brands—the flavor of a great nation, the harmony of Wuliangye, the king of Chinese Baijiu—are destined to shine even brighter. Wuliangye will expedite the building of a world first-class liquor producer with top-quality products, famous brand, leading innovative capacity and modern governance system.