老板电器：2024年第三季度报告(英文版)

查股网 2024-10-31 老板电器(002508)公司公告

Stock code: 002508 Stock name: Robam Appliances Announcement No.: 2024-065

Hangzhou Robam Appliances Co., Ltd.

Q3 2024 ReportHangzhou Robam Appliances Co., Ltd. (the Company) and all members of its Board of Directors hereby guarantee that thereare no false representations, misleading statements or material omissions in this Quarterly Report (“the Report”), and theinformation contained herein is authentic, accurate and complete.Important Notes

1. The Board of Directors, the Board of Supervisors, as well as the directors, supervisors and senior management of the Companyhereby guarantee that there are no false representations, misleading statements or material omissions in the Report, and areseverally and jointly liable for the authenticity, accuracy and completeness of the information contained herein.

2. The head of the Company, the person in charge of the Company’s accounting and the head of the accounting department (theaccountant in charge) hereby declare and warrant that the financial report contained in the Report is authentic, accurate, andcomplete.

3. Whether the Q3 report has been audited？

□ Yes ?No

I. Key Financial Data

(I) Key Accounting Data and Financial IndicatorsWhether the Company needs to retroactively adjust or restate the accounting data of previous years?

□ Yes ?No

	The reporting period	YoY change	From the beginning of the year to the end of the reporting period	YoY change
Operating Income (RMB)	2,666,415,701.28	-11.07%	7,395,769,773.08	-6.78%
Net profit attributable to shareholders of the listed company (RMB)	442,820,994.37	-18.49%	1,202,179,949.11	-12.44%
Net profit attributable to shareholders of the listed company after deducting non-recurring gains/losses (RMB)	416,751,314.41	-22.34%	1,074,509,592.29	-16.27%
Net cash flow from operating activities (RMB)	—	—	525,768,857.38	-62.30%
Basic earnings per share (EPS) (RMB/share)	0.47	-18.07%	1.27	-12.41%
Diluted EPS (RMB/share)	0.47	-18.07%	1.27	-12.41%
Weighted average return on net assets	4.01%	A decrease of 1.23%	11.01%	A decrease of 2.44%
	End of the reporting period	End of last year	Change
Total assets (RMB)	15,811,645,443.39	16,779,531,315.72	-5.77%
Owner's equity attributable to shareholders of the listed company (RMB)	10,800,542,004.48	10,522,938,731.68	2.64%

(II) Items and Amounts of Non-recurring Gains and Losses

?Applicable □Not applicable

In RMB

Item	Amount for the current reporting period	Amount from the beginning of the year to the end of the reporting period	Description
Gains and losses on disposal of non-current assets (including the written-off part of the provision for asset impairment accrued)	-1,563,822.48	-2,326,587.21
Government subsidies included in current gains and	10,037,822.62	57,436,043.17

losses (excluding government subsidies closely related to the Company's normal business, in line with national policy, enjoyed according to established standards, and having a sustained impact on the Company's gains and losses).
Reversal of impairment provision for accounts receivable tested for impairment separately	27,334,228.58	104,094,655.48
Other gain/loss items conforming to the definition of non-recurring gains/losses	-4,707,590.18	-6,912,672.47
Less: Affected amount of income tax	4,632,991.02	23,049,171.27
Affected amount of minority shareholders’ equity (after tax)	397,967.56	1,571,910.88
Total	26,069,679.96	127,670,356.82	--

Other items of gains and losses meeting the definition of non-recurring gains and losses:

□Applicable ?Not applicable

The Company does not have other items of gains and losses meeting the definition of non-recurring gains and lossesExplanation on the circumstance where items of the non-recurring gains and losses listed in the Explanatory Announcement No. 1on Information Disclosure for Companies Offering Their Securities to the Public — Non-recurring Profits and Losses (referred toas “Announcement No.1”) are defined as recurring profits and losses?Applicable □Not applicable

Item	Amount (in RMB)	Reasons
VAT exemption, reduction or refund	46,295,809.64	National tax policy, regular business
Refund of individual income tax handling fee	582,923.47	National tax policy, regular business

(III) Changes in Major Accounting Data and Financial Indicators and Their Reasons?Applicable □ Not applicable In RMB

Balance sheet items	September 30, 2024	January 01, 2024	Percentage of change	Reason for change
Cash and cash equivalents	1,187,511,979.38	1,985,050,745.11	-40.18%	Mainly due to the increase in bank finance.
Financial assets held for trading	1,505,004,112.33	2,730,000,000.00	-44.87%	Mainly due to the conversion of some short-term financial investments to long-term financial investments.
Prepayments	188,466,191.58	139,713,471.58	34.89%	Mainly due to the increase in prepayments for materials.
Other current assets	1,581,587,487.51	2,647,808,620.70	-40.27%	Mainly due to the decrease in trading financial assets.
Long-term equity investment	4,449,676.77	8,427,450.24	-47.20%	Mainly due to operating losses of associated and joint venture companies.
Long-term prepaid expenses	2,726,098.85	5,034,659.37	-45.85%	Mainly due to the decrease in the balance after periodic amortization.
Other non-current	4,063,506,755.93	1,922,329,328.65	111.38%	Mainly due to the conversion of some

assets				short-term financial investments to long-term financial investments.
Payroll payable	41,037,458.88	177,923,042.01	-76.94%	Mainly due to the payment of employee salaries and bonuses at the end of the previous year.
Other payables	285,970,379.60	755,964,919.76	-62.17%	Mainly due to the completion of dividend payments.
Non-current liabilities due within one year	10,836,551.02	4,522,658.42	139.61%	Mainly due to the increase in lease liabilities maturing within one year.
Lease liabilities	1,167,955.38	10,750,792.90	-89.14%	Mainly due to the decrease resulting from the expiration of property leases.
Capital reserve	236,346,741.98	411,778,214.22	-42.60%	Mainly due to the repurchase and cancellation of treasury shares.
Income statement items	From the beginning of the year to the end of the reporting period	The same period last year	Percentage of change	Reason for change
Interest expenses	2,541,064.67	4,604,050.66	-44.81%	Mainly due to the decrease in loan interest payments.
Investment income	67,413,198.19	34,689,912.04	94.33%	Mainly due to the increase in returns from matured financial investments.
Loss from credit impairment	-9,908,601.43	42,031,011.45	-123.57%	Mainly due to the increase in the provision for bad debts.
Loss from assets impairment	1,930,820.03	8,547,180.72	-77.41%	Mainly due to the decrease in the provision for inventory write-downs.
Gains on asset disposals	-2,325,065.84	-1,683,400.02	38.12%	Mainly due to the increase in losses from the sale of mortgaged properties for projects.
Non-operating income	847,605.05	3,890,738.08	-78.21%	Mainly due to the decrease in other income.
Total comprehensive income attributable to minority shareholders	-16,507,785.91	-11,061,832.50	49.23%	Mainly due to increased losses of subsidiaries.
Cash flow statement items	From the beginning of the year to the end of the reporting period	The same period last year	Percentage of change	Reason for change
Net cash flow from operating activities	525,768,857.38	1,394,577,576.86	-62.30%	Mainly due to the decrease in payment collection and the increase in payments to suppliers.
Net cash flow from investment activities	97,017,348.45	-624,301,350.06	-115.54%	Mainly due to the recovery of matured financial investments.
Net cash flow from financing activities	-1,426,212,996.85	-430,024,891.02	231.66%	Mainly due to the increase in dividend payments.

II. Shareholder Information

(I) Total Number of Common Shareholders and Preferred Shareholders with the Voting RightsRecovered and Shareholding of the Top 10 Shareholders

Unit: share

Total number of common shareholders at the end of the reporting period		55,834	Total number of preferred shareholders with the voting rights recovered at the end of reporting period (if any)			0
Shareholdings of the top 10 shareholders (excluding shares lent through refinancing)
Name of shareholder	Nature of shareholder	Shareholding ratio	Number of shares	Number of shares subject to sales restrictions	Pledged, marked or frozen shares
					Status	Quantity
Hangzhou Robam Industrial	Domestic non-state-own ed corporation	49.94%	471,510,000	0	Not Applicable	0

Group Co., Ltd.
Hong Kong Securities Clearing Company Limited	Overseas corporation	10.16%	95,912,736	0	Not Applicable	0
Shen Guoying	Domestic natural person	1.30%	12,240,000	0	Not Applicable	0
TEMASEK FULLERTON ALPHA PTE LTD	Overseas corporation	1.05%	9,950,061	0	Not Applicable	0
413 Portfolio of National Social Security Fund	Others	0.93%	8,816,586	0	Not Applicable	0
Agricultural Bank of China Co., Ltd. - CSI 500 Exchange Traded Fund	Others	0.92%	8,649,700	0	Not Applicable	0
Schroder Investment Management (Hong Kong) Limited - Schroder Global Equity Fund China A-Shares (Exchange)	Others	0.87%	8,202,175	0	Not Applicable	0
406 Portfolio of National Social Security Fund	Others	0.83%	7,829,500	0	Not Applicable	0
Hangzhou Jinchuang Investment Co., Ltd.	Domestic non-state-own ed corporation	0.70%	6,640,085	0	Not Applicable	0
Hangzhou Yinchuang Investment Co., Ltd.	Domestic non-state-own ed corporation	0.67%	6,318,000	0	Not Applicable	0
Shareholdings of the top 10 shareholders not subject to sales restrictions (excluding shares lent through refinancing and executive locked shares)
Name of shareholder		Number of shares not subject to sales restrictions			Type of share and number of shares
Name of shareholder		Number of shares not subject to sales restrictions			Type of share	Quantity
Hangzhou Robam Industrial Group Co., Ltd.		471,510,000			RMB ordinary shares	471,510,000
Hong Kong Securities Clearing Company Limited		95,912,736			RMB ordinary shares	95,912,736
Shen Guoying		12,240,000			RMB ordinary shares	12,240,000
TEMASEK FULLERTON ALPHA PTE LTD		9,950,061			RMB ordinary shares	9,950,061
413 Portfolio of National Social Security Fund		8,816,586			RMB ordinary shares	8,816,586
Agricultural Bank of China Co.,		8,649,700			RMB ordinary	8,649,700

Ltd. - CSI 500 Exchange Traded Fund			shares
Schroder Investment Management (Hong Kong) Limited - Schroder Global Equity Fund China A-Shares (Exchange)	8,202,175		RMB ordinary shares	8,202,175
406 Portfolio of National Social Security Fund	7,829,500		RMB ordinary shares	7,829,500
Hangzhou Jinchuang Investment Co., Ltd.	6,640,085		RMB ordinary shares	6,640,085
Hangzhou Yinchuang Investment Co., Ltd.	6,318,000		RMB ordinary shares	6,318,000
Description of the associated relationship or consistent actions of the above shareholders		Mr. Ren Jianhua is the actual controller of the controlling shareholder of the Company - Hangzhou Robam Industrial Group Co., Ltd., and the shareholder of the Company - Hangzhou Jinchuang Investment Co., Ltd.; and the natural person shareholder, Shen Guoying, is his wife. Therefore, there is a possibility that these shareholders will act in concert.
Description of the top 10 shareholders engaging in securities margin trading (if any)		None

Shares lending through refinancing involving shareholders holding more than 5% of the shares, the top 10 shareholders, and thetop 10 shareholders of unrestricted circulating shares

□Applicable ?Not applicable

Compared to the previous period, the change is due to the top 10 shareholders and the top 10 unrestricted circulating shareholderslending/returning shares for refinancing purposes.

□Applicable ?Not applicable

(II) Total Number of the Company’s Preferred Shareholders and Shareholding of the Top 10 PreferredShareholders

□Applicable ?Not applicable

III. Other Significant Matters

□Applicable ?Not applicable

IV. Quarterly Financial Statements

(I) Financial Statements

1. Consolidated balance sheet

Prepared by: Hangzhou Robam Appliances Co., Ltd.

September 30, 2024

In RMB

Item	Ending balance	Beginning balance
Current assets:
Cash and cash equivalents	1,187,511,979.38	1,985,050,745.11
Deposit reservation for balance
Lendings to banks and other financial institutions
Financial assets held for trading	1,505,004,112.33	2,730,000,000.00
Derivative financial assets

Notes receivable	660,771,403.83	696,284,931.64
Accounts receivable	1,855,011,205.94	1,810,015,596.33
Accounts receivable financing
Prepayments	188,466,191.58	139,713,471.58
Receivable premium
Reinsurance accounts receivable
Reinsurance contract reserves receivable
Other receivables	68,915,679.88	53,368,667.34
Inc: Interests receivable
Dividends receivable
Redemptory monetary capital for sale
Inventory	1,349,677,443.38	1,524,274,720.24
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets	1,581,587,487.51	2,647,808,620.70
Total current assets	8,396,945,503.83	11,586,516,752.94
Non-current assets:
Loans and advances
Creditors investment
Other debt investment
Long-term account receivable
Long-term equity investment	4,449,676.77	8,427,450.24
Investment in other equity instruments	2,116,023.22	2,116,023.22
Other non-current financial assets	580,000,000.00	480,000,000.00
Investment properties	85,785,303.72	91,136,832.31
Fixed assets	1,638,741,222.27	1,720,724,257.46
Construction in process	420,935,341.30	359,768,699.68
Biological assets for production
Oil & gas assets
Right of use assets	9,827,974.23	13,802,458.98
Intangible assets	211,698,545.64	214,553,739.31
Including: Data resources
Development expenditure
Including: Data resources
Goodwill	12,223,271.67	12,223,271.67
Long-term prepaid expenses	2,726,098.85	5,034,659.37
Deferred income tax assets:	382,689,725.96	362,897,841.89
Other non-current assets	4,063,506,755.93	1,922,329,328.65
Total non-current assets	7,414,699,939.56	5,193,014,562.78
Total assets	15,811,645,443.39	16,779,531,315.72
Current liabilities:
Short-term borrowings	91,028,415.27	95,003,320.70
Borrowings from the central bank
Borrowings from banks and other financial institutions
Financial liabilities held for trading
Derivative financial liabilities
Notes payables	957,292,366.65	1,098,720,000.58
Accounts payable	2,276,240,394.54	2,548,743,762.06
Advance receipts
Contract liabilities	807,896,234.74	1,019,942,923.58
Financial assets sold for repurchase
Deposits from customers and

interbank
Receivings from vicariously traded securities
Receivings from vicariously traded securities
Payroll payable	41,037,458.88	177,923,042.01
Taxes payable	200,464,714.09	154,365,676.80
Other payables	285,970,379.60	755,964,919.76
Inc: Interests payable
Dividends payable		472,047,458.00
Fees and commissions payable
Dividends payable for reinsurance
Liabilities held for sale
Non-current liabilities due within one year	10,836,551.02	4,522,658.42
Other current liabilities	95,122,165.21	118,041,351.23
Total current liabilities	4,765,888,680.00	5,973,227,655.14
Non-current liabilities:
Reserves for insurance contracts
Long-term loans
Bonds payable
Inc: Preferred shares
Perpetual bonds
Lease liabilities	1,167,955.38	10,750,792.90
Long-term accounts payable
Long-term payroll payable
Estimated liabilities
Deferred income	120,001,869.66	136,538,254.74
Deferred income tax liabilities	32,895,403.53	28,418,565.01
Other non-current liabilities
Total non-current liabilities	154,065,228.57	175,707,612.65
Total liabilities	4,919,953,908.57	6,148,935,267.79
Owner’s equity:
Capital stock	944,129,516.00	949,024,050.00
Other equity instruments
Inc: Preferred shares
Perpetual bonds
Capital reserve	236,346,741.98	411,778,214.22
Less: treasury share		199,995,742.59
Other comprehensive income	-100,292,930.82	-100,157,634.16
Special reserve
Surplus reserve	474,516,412.50	474,516,412.50
General risk reserves
Undistributed profits	9,245,842,264.82	8,987,773,431.71
Total owners’ equity attributable to the parent company	10,800,542,004.48	10,522,938,731.68
Minority interests	91,149,530.34	107,657,316.25
Total owners’ equity	10,891,691,534.82	10,630,596,047.93
Total liabilities and owner’s equity	15,811,645,443.39	16,779,531,315.72

Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu Head of the accounting department: Zhang Guofu

2. Consolidated income statement from the beginning of the year to the end of the reporting period

In RMB

Item	Amount of the current period	Amount of the previous period
I. Total operating income	7,395,769,773.08	7,933,319,563.87

Inc: Operating income	7,395,769,773.08	7,933,319,563.87
Interest income
Earned premium
Fee and commission income
II. Total operating costs	6,146,967,386.74	6,498,916,320.12
Inc: Operating costs	3,665,988,049.74	3,805,533,766.69
Interest expenses
Fee and commission expenses
Surrender value
Net payments for insurance claims
Net allotment of reserves for insurance liabilities
Policy dividend expenditures
Reinsurance expenses
Taxes and surcharges	56,000,589.33	53,213,630.60
Sales expenses	1,942,660,453.45	2,139,755,936.49
Administrative expenses	341,872,251.66	326,660,700.72
R&D expenses	276,355,597.58	279,326,363.45
Financial expenses	-135,909,555.02	-105,574,077.83
Including: Interest expenses	2,541,064.67	4,604,050.66
Interest income	140,964,132.11	108,569,307.33
Add: other income	104,314,776.28	99,374,995.14
Investment income (“-” for losses)	67,413,198.19	34,689,912.04
Including: Income from investment in joint ventures and affiliated enterprises	-3,680,047.24	-1,730,643.18
Gains on derecognition of financial assets measured at amortized cost
Exchange gains (“-” for losses)
Net exposure hedging gains (“-” for losses)
Gains from changes in fair value (“-” for losses)
Losses from credit impairment (“-” for losses)	-9,908,601.43	42,031,011.45
Losses from asset impairment (“-” for losses)	1,930,820.03	8,547,180.72
Gains on disposal of assets (“-” for losses)	-2,325,065.84	-1,683,400.02
III. Operating profits (“-” for losses)	1,410,227,513.57	1,617,362,943.08
Add: non-operating income	847,605.05	3,890,738.08
Less: non-operating expenditure	7,761,798.89	6,487,049.60
IV. Total profits (“-” for total losses)	1,403,313,319.73	1,614,766,631.56
Less: income tax expenses	217,608,806.01	252,847,427.81
V. Net profits (“-” for losses)	1,185,704,513.72	1,361,919,203.75
(I) By operational sustainability
1. Net profits from continuing	1,185,704,513.72	1,361,919,203.75

operations (“-” for net losses)
2. Net profits from discontinued operations (“-” for net losses)
(II) By ownership
1. Net profit attributable to shareholders of the parent company (“-” for net losses)	1,202,179,949.11	1,372,981,036.25
2. Minority shareholders’ gains and losses (“-” for net losses)	-16,475,435.39	-11,061,832.50
VI. After-tax net amount of other comprehensive income	-167,647.18
After-tax net amount of other comprehensive income attributable to the owners of parent company	-135,296.66
(I) Other comprehensive income that cannot be reclassified into gains and losses
1. Changes in re-measured and defined benefit plans
2. Other comprehensive income which cannot be transferred into gains or losses under the equity method
3. Changes in fair value of the investment in other equity instruments
4. Changes in fair value of the credit risk of the Company
5. Others
(II) Other comprehensive income which will be reclassified into gains and losses	-135,296.66
1. Other comprehensive income which can be transferred into gains and losses under the equity method
2. Changes in fair value of other debt investments
3. Amount of financial assets reclassified into other comprehensive income
4. Provision for credit impairment of other debt investments
5. Cashflow hedge reserve
6. Converted difference in foreign currency statements	-135,296.66
7. Others
After-tax net amount of other comprehensive income attributable to minority shareholders	-32,350.52
VII. Total comprehensive income	1,185,536,866.54	1,361,919,203.75
(I) Total comprehensive income attributable to the owners of the parent company	1,202,044,652.45	1,372,981,036.25
(II) Total comprehensive income attributable to minority shareholders	-16,507,785.91	-11,061,832.50
VIII. Earnings per share (EPS):
(I) Basic EPS	1.27	1.45
(II) Diluted EPS	1.27	1.45

In the case of merger of enterprises under the same control in the current period, the net profit realized by the merged party before

the merger is: RMB 0.00, and the net profit realized by the merged party in the previous period is: RMB 0.00.Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu Head of the accounting department: Zhang Guofu

3. Consolidated cash flow statement from the beginning of the year to the end of the reporting period

In RMB

Item	Amount of the current period	Amount of the previous period
I. Cash flow from operating activities:
Cash received for the sale of goods and rendering of services	7,903,750,434.12	8,497,222,426.53
Net increase in clients’ deposits and deposits from banks and other financial institutions
Net increase in borrowings from the central bank
Net increase in borrowings from other financial institutions
Cash received from receiving insurance premium of the original insurance contract
Net cash from receiving reinsurance premium
Net increase in deposits and investment of insured persons
Cash received from interests, fees and commissions
Net increase in borrowed funds
Net increase in repurchase business funds
Net cash received from vicariously traded securities
Refunds of taxes	27,319,712.52	30,246,149.17
Cash received relating to other operating activities	159,415,830.04	220,282,103.32
Subtotal of cash inflow from operating activities	8,090,485,976.68	8,747,750,679.02
Cash paid for purchased products and received services	4,048,517,085.76	3,904,549,806.71
Net increase in loans and advances to customers
Net increase in deposits with the central bank and other financial institutions
Cash paid for claims of original insurance contract
Net increase in lending funds
Cash paid for interests, fees and commissions
Cash paid for policy dividends
Cash paid to and on behalf of employees	837,585,263.59	781,249,979.73
Cash paid for taxes	632,054,145.34	702,313,359.46

Cash paid related to other operating activities	2,046,560,624.61	1,965,059,956.26
Subtotal of cash outflow from operating activities	7,564,717,119.30	7,353,173,102.16
Net cash flow from operating activities	525,768,857.38	1,394,577,576.86
II. Cash flow from investment activities:
Cash received from return of investments	1,541,285,887.67	1,311,844,508.00
Cash received from return on investments	71,392,261.71	36,813,951.62
Net cash received from disposal of fixed assets, intangible assets and other long-term assets	499,866.54	385,481.33
Net cash received from disposal of subsidiaries and other business entities
Cashes received related to other investment activities	3,217,561,206.77
Subtotal of cash inflow from investment activities	4,830,739,222.69	1,349,043,940.95
Cash paid for purchase and construction of fixed assets, intangible assets and other long-term assets	183,507,049.24	261,045,291.01
Cash paid to investments	416,290,525.00	1,712,300,000.00
Net increase in pledged loans
Net cash from subsidiaries and other operating entities
Cash paid related to other investment activities	4,133,924,300.00
Subtotal of cash outflow from investment activities	4,733,721,874.24	1,973,345,291.01
Net cash flow from investment activities	97,017,348.45	-624,301,350.06
III. Cash flow from financing activities:
Cash from acquiring investments	680,724.00
Including: Cash received by subsidiaries from investments of minority shareholders
Cash from acquiring debts	83,812,523.35	77,000,000.00
Other cashes received in relation to financing activities	500,000.00	13,510,296.65
Subtotal of cash inflow from financing activities	84,993,247.35	90,510,296.65
Cash paid for repayments of debts	81,000,000.00	43,500,000.00
Cash paid for distribution of dividends, profits or interest expenses	1,418,297,004.58	472,051,329.00
Including: Dividends or profits paid by subsidiaries to minority shareholders
Other cashes paid in relation to financing activities	11,909,239.62	4,983,858.67
Subtotal of cash outflow from financing activities	1,511,206,244.20	520,535,187.67
Net cash flow from financing activities	-1,426,212,996.85	-430,024,891.02
IV. Effect of change in exchange rate on cash and cash equivalents	-370,588.37	2,026,181.05
V. Net increase in cash and cash equivalents	-803,797,379.39	342,277,516.83
Plus: Opening balance of cash and	1,878,166,358.09	5,196,414,341.74

cash equivalents
VI. Closing balance of cash and cash equivalents	1,074,368,978.70	5,538,691,858.57

(II) Relevant financial statement items at the beginning of 2024 when the adjustmentsstipulated in the new accounting standards apply for the first time

□Applicable ?Not applicable

(III) Audit report

Whether the Q3 report has been audited？

□ Yes ?No

The Q3 report of the Company has not been audited.

Board of Directors of Hangzhou Robam Appliances Co., Ltd.

October 28, 2024

附件：公告原文