2019 First Quarterly Report of Qingdao Haier Co., Ltd.
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Contents
I. IMPORTANT NOTICE .......................................................................................................................... 3
II. COMPANY PROFILE ........................................................................................................................... 3
III. SIGNIFICANT EVENTS ..................................................................................................................... 8
IV. APPENDIX ......................................................................................................................................... 11
（Note: This Report has been prepared in both Chinese and English. Should there be any discrepancies
or misunderstandings between the two versions, the Chinese version shall prevail.）
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
I. IMPORTANT NOTICE
1.1 The Board of Directors, the Board of Supervisors, directors, supervisors and senior management of
Qingdao Haier Co., Ltd. (“the Company”) hereby assure that the content set out in the quarterly report is
true, accurate and complete, and free from any false record, misleading representation or material
omission, and are individually and collectively responsible for the content set out therein.
1.2 Information of Directors absent. from the meeting
Position of director Name of director absent from Reason for the absence of Name of proxy
absent from the meeting the meeting director from the meeting
Director Liu Haifeng Personal affair Wu Changqi
1.3 Liang Haishan (legal representative of the Company), Gong Wei (chief financial officer of the Company)
and Ying Ke (the person in charge of accounting department) hereby certify that the financial statements
set out in the quarterly report is true, accurate and complete.
1.4 The first quarterly report of the Company has not been audited.
II. COMPANY PROFILE
2.1 Key financial data
Unit and Currency: RMB
Increase/decrease at the
At the end of last year
At the end of the end of the reporting period
reporting period After the Before the compared with the end of
Adjustment Adjustment last year (%)
Total assets 166,699,544 166,699,544,2
177,444,803,072.13 6.45
,243.79 43.79
Net assets
attributable to 39,402,350, 39,402,350,7
41,076,912,031.44 4.15
shareholders of 791.68 91.68
listed companies
At the beginning of At the beginning of last year
the year to the end of to the end of the reporting Yoy change (%)
the reporting period period of last year
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
After the Before the
Adjustment Adjustment
Net cash flows
2,170,214,54 1,990,934,74
from operating 1,323,519,988.31 -39.01
1.28 4.45
activities
At the beginning of last year
to the end of the reporting
At the beginning of
period of last year
the year to the end of Yoy change (%)
the reporting period
After the Before the
Adjustment Adjustment
Operating 43,609,601,7 42,655,164,5
revenue 48,043,265,870.34 10.17
39.36 67.37
Net profits
attributable to 1,952,610,30 1,979,995,36
2,136,268,479.08 9.41
shareholders of 8.35 4.53
listed companies
Net profits after
non-recurring
profit or loss 1,761,919,41 1,761,919,41
1,887,324,275.73 7.12
attributable to 7.70 7.70
shareholders of
listed companies
Weighted decrease 0.40 percent point
average return 6.62 7.02 5.99
on net assets (%)
Basic earnings
per share (RMB 0.335 0.320 0.325 4.69
per share)
Diluted earnings
per share (RMB 0.323 0.317 0.321 1.89
per share)
Note：In Q1 of 2019, the Company's income from white goods & kitchen & bathroom electric appliances
increased by 13.3%; not considering that Candy is consolidated in the statement, the Company's income
from white goods & kitchen & bathroom electric appliances increased by 8.1%. 1) Chinese market.
Under the adverse environment of business downturn in the industry, the Company maintained an
increasing trend for all lines of products through deepening the transformation of retail and boosting
full-network management and four-in-one network. According to the monitored data of CMM, in
January-March 2019, retail sales of Haier brand refrigerator, washing machine, household air
conditioners, water heaters, kitchen ventilators and gas stoves increased 1.57, 3.06, 1.26, 1.43, 1.37 amd
1.45 percentage points on year-on-year basis, respectively; Casarte maintained rapid growth in Q1 and
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
constantly increased its market share. 2) Overseas market. Based on the independent brands and the
three-in-one layout, the Company went deeply into the global market and maintained rapid growth in the
overseas market. The income increase in North America (GEA) is more than 10% (on the USD
standard); in January 2019, the Company accomplished the delivery of Candy. After the delivery, the
integrated operation is smooth and Candy maintained good development trend in January-March.
Non-recurring profit or loss items and amount
√Applicable□ Not Applicable
Unit and Currency: RMB
Amount for the current
Items
period
Profit or loss from disposal of non-current assets -7,007,479.65
Tax refund, reduction or exemption with approval exceeding authority
or without official approval or occasionally
Government grants included in current profit or loss, except that
closely related to the normal operating business, complied with
27,414,780.52
requirements of the national policies, continued to be granted with the
amount and quantity determined under certain standards
Profit and loss of changes in fair value arising from holding of
trading financial assets and trading financial liabilities except for
valid straddle business relevant to normal business of the
211,562,253.14
company, as well as investment gain realized from disposal of
trading financial assets, trading financial liabilities, financial
assets available for sale
Other non-operating income and expenses except the
84,476,113.57
aforementioned items
Minority interests(after tax) -51,290,873.00
Income tax -16,210,591.23
Total 248,944,203.35
2.2 Table of total number of shareholders, top ten shareholders, top ten common shareholders (or the
shareholders without selling restrictions) by the end of the reporting period
Unit: Share
Total number of shareholders 172,948
Shareholdings of top ten shareholders
Name of shareholder Number of Perce Number of Status of shares Nature of
(full name) shares held at ntage shares held pledged or frozen shareholder
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
the end of the (%) subject to
period selling Status Number
restrictions
Haier Electric Domestic
Appliances 1,258,684,824 19.76 Nil non-state-owne
International Co., Ltd. d legal entity
Haier Group Domestic
Corporation 1,072,610,764 16.84 Nil non-state-owne
d legal entity
Hong Kong Securities Unknow Unknown
605,276,447 9.50
Clearing Co., Ltd n
GIC PRIVATE Unknow Foreign legal
232,920,332 3.66
LIMITED n entity
China Securities Unknown
Unknow
Finance Corporation 182,592,697 2.87
n
Limited
Qingdao Haier Venture Domestic
& Investment non-state-owne
Information Co., 172,252,560 2.70 Nil d legal entity
Ltd.(青岛海尔创业投
资咨询有限公司)
National social Unknown
Unknow
security fund Portfolio 97,799,981 1.54
n
104
CLEARSTREAM Unknow Foreign legal
90,926,856 1.43
BANKING S.A. (note) n entity
Central Huijin Asset Unknow Unknown
69,539,900 1.09
Management Ltd. n
Qingdao Haichuangzhi Domestic
Management non-state-owne
68,583,083 1.08 Nil
Consulting Enterprise d legal entity
(Limited Partnership)
Shareholdings of top ten shareholders not subject to selling restrictions
Name of shareholder Number of shares Class and number of shares
held not subject to
selling restrictions Class Number
Haier Electric Appliances International 1,258,684,824 1,258,684,824
RMB ordinary
Co., Ltd.
Haier Group Corporation 1,072,610,764 RMB ordinary 1,072,610,764
Hong Kong Securities Clearing Co., 605,276,447 605,276,447
RMB ordinary
Ltd.
GIC PRIVATE LIMITED 232,920,332 RMB ordinary 232,920,332
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
China Securities Finance Corporation 182,592,697 182,592,697
RMB ordinary
Limited
Qingdao Haier Venture & Investment 172,252,560 172,252,560
Information Co., Ltd.(青岛海尔创业投 RMB ordinary
资咨询有限公司)
National social security fund, Portfolio 97,799,981 97,799,981
104 RMB ordinary
CLEARSTREAM BANKING S.A. 90,926,856 Overseas listed 90,926,856
foreign shares
Central Huijin Asset Management Ltd. 69,539,900 RMB ordinary 69,539,900
Qingdao Haichuangzhi Management 68,583,083 68,583,083
Consulting Enterprise (Limited RMB ordinary
Partnership)
Related-parties or parties acting in (1) Haier Electric Appliances International Co., Ltd. is a
concert among the aforesaid holding subsidiary of Haier Group Corporation. Haier Group
shareholders Corporation holds 51.20% of its equity. Qingdao Haier
Venture & Investment Information Co., Ltd.( 青岛海尔创业
投 资 咨 询 有 限 公 司 ) Qingdao Haichuangzhi Management
Consulting Enterprise (Limited Partnership) are parties acting
in concert with Haier Group Corporation;
(2) The Company is not aware of the existence of any
connections of other shareholders.
Explanation of preferential shareholders Not applicable
with restoration of voting rights and
their shareholdings
Note: This account is the Clearstream Banking collection account for the Company's D shares, which is
the original data provided by the German securities registration agency to the Company after the merger
according to local market practices and technical settings, not representing the ultimate shareholder.
2.3 Table of total number of preferential shareholders, top ten preferential shareholders, top ten preferential
shareholders without selling restrictions by the end of the reporting period
□Applicable√ Not Applicable
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
III. SIGNIFICANT EVENTS
3.1 The major changes of and reasons for the items of accounting statement and financial indicators
√Applicable □ Not Applicable
1) Non-current assets due within one year increased over the beginning of the period by 100%，
mainly due to the revenue from the acquisition of CANDY in the current period；
2) Use rights assets increased over the beginning of the period by 100%，mainly due to use rights
asset recognized according to Accounting Standards for Business Enterprises No. 21 - Leases；
3) Derivative financial liabilities decreased over the beginning of the period by 54.70%，mainly
due to changes in the value of foreign exchange derivative financial instruments；
4) Contract liabilities decreased over the beginning of the period by 37.05%，mainly due to the
completion of the contract performance corresponding to the payment received；
5) Non-current liabilities due within one year increased over the beginning of the period by
194.11%，mainly because long-term borrowings will expire in one year.；
6) Lease liabilities increased over the beginning of the period by 100%，mainly due to the lease
liabilities recognized according to Accounting Standard for Business Enterprises No. 21 -
Leases；
7) Deferred income tax liabilities increased over the beginning of the period by 102.72%, mainly
due to the revenue from the current acquisition of CANDY in the current period；
8) Other comprehensive income decreased over the beginning of the period by 47.93%，mainly
due to the impact of the translation differences of the statement；
9) Gain from disposal of asset decreased by 351.67% yoy，mainly due to the scale of asset
disposal decreased over the same period；
10) Non-operating expenses increased by 140.58% yoy，mainly due to the increase in one- off
expenses recognized in the current period；
11) Net cash flow from operating activities decreased by 39.01% yoy， mainly due to the fact that
some subsidiaries are stocked according to the rhythm of use；
12) Net cash flow from investing activities decreased by 206.54% yoy， mainly due to the impact
of cash expenditure resulting from the acquisition of CANDY in the current period；
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
13) Net cash flow from financing activities increased by 292.54% yoy，mainly due to the impact of
borrowing resulting from the acquisition of CANDY in the current period.
3.2 Analysis on the progress of significant events and their impact and solution
√Applicable □ Not Applicable
(1) External guarantees： By the end of the reporting period, the external guarantees provided by
the Company and its subsidiaries were guarantees between the Company and its subsidiaries, the
total balance of which amounted to RMB19.461 billion, accounting for 47.4% of the Company’s
latest net assets and 10.9% of the latest total assets.
(2) Foreign exchange derivative： By the end of the reporting period, the aggregate balance of the
Company’s foreign exchange derivative transactions amounted to approximately US$5.547 billion.
(3) Entrusted wealth management: By the end of the reporting period, the balance of the
Company’s entrusted wealth management amounted to RMB5.873 billion, including two parts: (1)
temporarily-idle fundraising wealth management: at the end of December 2018, the Company’s
proceeds for the issuance of convertible corporate bonds were fully landed. In order to improve the
yield of temporarily-idle funds, the Company intends to carry out cash management with the
amounts not exceed RMB1.5 billion after approved by the Board of Directors. By the end of the
reporting period, the balance of the entrusted wealth management amounted to RMB1.5 billion; (2)
wealth management of the Company’s Hong Kong listed subsidiary: Haier Electronics Group
Co., Ltd. (hereinafter referred to as “Haier Electronics” , stock code: 01169.HK), the holding
subsidiary of the Company, has purchased some short-term principal-protected wealth management
and structural deposits from the large commercial banks as an independently operating Hong Kong
listed company in order to increase the efficiency of the use of idle funds within the authorities of
the management and on the premise of safeguarding funds security. In the purchase process, all the
necessary board reports were subject to the procedures such as filling and management’ s review
according to the regulations requirements for Hong Kong listed company, so as to ensure sufficient
funds for the day-to-day operations of the main business and improve the shareholders' returns. By
the end of the reporting period, the balance of the entrusted wealth management amounted to
RMB4.373 billion.
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
3.3 The undertakings that have been past due and not been completed during the reporting period
□Applicable √ Not Applicable
3.4 Warning of and reasons for the forecast that the accumulated net profit for the period from the opening
of the year to the end of the next reporting period may be a loss or there is a significant change as
compared to that of the same period of last year
□Applicable √ Not Applicable
Name of the Company Qingdao Haier Co., Ltd.
Legal representative Liang Haishan
Date 29 April 2019
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
IV. APPENDIX
1.1 Financial Statements
Consolidated Balance Sheet
31 March 2019
Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items 31 March 2019 31 December 2018
Current Assets:
Cash and cash equivalents 35,978,171,406.89 37,456,355,407.28
Provision of settlement fund
Funds lent
Trading financial assets 1,931,696,758.82 1,775,648,387.76
Financial assets measured at fair
value and changes of which included in
current profit and loss
Derivative financial assets 73,100,239.72 96,723,164.37
Bills receivable and accounts 26,227,996,470.93 24,652,130,810.52
receivable
Prepayments 695,077,852.98 594,555,015.00
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserves
receivable
Other receivables 1,910,441,148.95 1,626,975,864.98
Financial assets purchased under
resale agreements
Inventories 22,906,897,890.56 22,377,191,121.53
Contract assets 483,179,995.88 456,781,406.54
Assets held for sale 143,480,001.46 144,091,213.39
Non-current assets due within one 301,303,935.61
year
Other current assets 5,879,549,636.56 5,079,878,909.67
Total current assets 96,530,895,338.36 94,260,331,301.04
Non-current assets:
Loans and advances granted
Debt investments
Available-for-sale financial assets
Other debt investments
Held-to-maturity investments
Long-term receivables 309,889,902.16 245,791,343.37
Long-term equity investments 14,102,908,167.25 13,966,481,596.07
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Investments in other equity 1,414,185,117.80 1,400,316,460.34
instruments
Other non-current financial assets 320,122,724.57 327,358,825.57
Investment properties 29,872,695.75 30,879,147.42
Fixed assets 18,343,588,537.78 17,319,638,881.37
Construction in progress 4,374,810,936.13 3,873,492,230.24
Biological assets for production
Oil and gas assets
Right-of-use assets 3,186,601,599.19
Intangible assets 11,135,182,900.84 9,209,242,721.71
Development expenditure 589,670,184.75 538,382,288.33
Goodwill 22,532,437,320.02 21,155,552,557.16
Long-term prepaid expenses 247,267,225.14 230,763,172.48
Deferred income tax assets 1,842,933,959.36 1,815,624,736.13
Other non-current assets 2,484,436,463.03 2,325,688,982.56
Total non-current assets 80,913,907,733.77 72,439,212,942.75
Total assets 177,444,803,072.13 166,699,544,243.79
Current liabilities:
Short-term borrowings 7,849,028,283.66 6,298,504,892.57
Borrowings from central bank
Placements from banks
Trading financial liabilities 248,863,237.30 218,748,280.33
Financial liabilities measured at fair
value and changes of which included in
current profit and loss
Derivative financial liabilities 16,127,928.30 35,603,754.54
Bills and accounts payable 47,451,772,978.04 47,385,218,141.38
Receipts in advance 13,440,073.43 14,681,466.58
Disposal of repurchased financial
assets
Absorbing deposit and deposit in
inter-bank market
Customer deposits for trading in
securities
Amounts due to issuer for securities
underwriting
Staff remuneration payable 2,483,732,174.94 2,651,399,418.05
Taxes payable 2,338,583,800.23 1,838,440,727.39
Other payables 14,183,974,878.35 12,685,677,402.91
Fees and commissions payable
Reinsurance accounts payable
Contract liabilities 3,450,932,910.36 5,482,325,888.59
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Liabilities held for sale 31,428,396.16 32,362,267.88
Non-current liabilities due within 8,867,703,140.27 3,015,060,105.58
one year
Other current liabilities 397,681,487.47 423,638,804.62
Total current liabilities 87,333,269,288.51 80,081,661,150.42
Non-current liabilities:
Deposits for insurance contracts
Long-term borrowings 13,578,285,442.78 15,541,466,325.22
Debentures payable 9,117,565,585.15 9,191,896,302.70
Including: preference Shares
perpetual bonds
Lease liabilities 2,861,619,896.53
Long-term employee benefits 972,965,927.68 934,974,735.49
payable
Long-term payable 110,931,073.95 106,763,243.99
Estimated liabilities 2,764,974,892.87 2,839,741,079.48
Deferred income 621,676,802.72 643,551,987.30
Deferred income tax liabilities 821,712,030.49 405,343,787.76
Other non-current liabilities 2,101,335,708.92 1,823,866,693.93
Total non-current liabilities 32,951,067,361.09 31,487,604,155.87
Total liabilities 120,284,336,649.60 111,569,265,306.29
Owners’ equity（or shareholder’s
equity）：
Paid-in capital (or share capital ) 6,368,416,700.00 6,368,416,700.00
Other equity instruments 904,485,788.71 904,485,788.71
Including: preference shares
perpetual bonds
Capital reserve 2,117,379,369.01 2,208,773,474.57
Less: treasury stock
Other comprehensive income 402,319,213.59 772,632,347.35
Surplus reserve 2,288,301,317.10 2,288,301,317.10
General risk provisions
Undistributed profits 28,996,009,643.03 26,859,741,163.95
Total equity attributable to owners 41,076,912,031.44 39,402,350,791.68
(or shareholder) of the parent company
Minority interests 16,083,554,391.09 15,727,928,145.82
Total owners’ equity (or 57,160,466,422.53 55,130,278,937.50
shareholders’ equity)
Total liabilities and owners’ 177,444,803,072.13 166,699,544,243.79
equities (or shareholders’ equity)
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Balance Sheet of the Parent Company
31 March 2019
Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items 31 March 2019 31 December 2018
Current Assets:
Cash and cash equivalents 3,294,316,781.75 7,068,899,574.96
Trading financial assets
Financial assets measured at fair value
and changes of which included in current
profit and loss
Derivative financial assets
Bills receivable and accounts receivable 252,252,237.39 222,622,017.43
Prepayments 22,994,199.46 28,809,797.43
Other receivables 2,076,957,299.28 2,082,767,166.58
Including: interests receivable
dividends receivable
Inventories 109,177,862.94 124,773,163.23
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 1,551,615,146.16 109,865,313.53
Total current assets 7,307,313,526.98 9,637,737,033.16
Non-current assets:
Debt investments
Available-for-sale financial assets
Other debt investments
Held-to-maturity investments
Long-term receivables
Long-term equity investments 34,524,465,540.39 33,844,234,315.30
Other equity instruments investments 5,262,480.92 5,262,480.92
Other non-current financial assets
Investment properties
Fixed assets 118,109,691.36 119,546,157.40
Construction in progress 52,582,249.41 37,655,076.18
Biological assets for production
Oil and gas assets
Right-of-use assets
Intangible assets 17,125,291.81 17,186,540.33
Development expenses
Goodwill
Long-term prepaid expenses 6,193,430.63 5,779,229.64
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Deferred income tax assets 81,511,748.07 81,511,748.07
Other non-current assets 30,058,794.50 28,632,829.14
Total non-current assets 34,835,309,227.09 34,139,808,376.98
Total assets 42,142,622,754.07 43,777,545,410.14
Current liabilities:
Short-term borrowings 1,500,000,000.00 1,500,000,000.00
Trading financial liabilities
Financial liabilities measured at fair
value and changes of which included in
current profit and loss
Derivative financial liabilities
Bills payable and accounts payable 213,644,252.46 334,747,358.40
Receipts in advance
Contract liabilities 2,676,603,627.91 2,391,211,509.89
Staff remuneration payable 21,200,110.05 65,387,056.03
Taxes payable 87,613,612.64 67,279,606.39
Other payables 20,041,071,781.16 21,834,869,774.34
Including: interests payable
dividends payable
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities 1,869,747.57 2,089,282.56
Total current liabilities 24,542,003,131.79 26,195,584,587.61
Non-current liabilities:
Long-term borrowings
Debentures payable 2,535,865,514.77 2,510,530,062.86
Including: preference shares
perpetual bonds
Leasing liabilities
Long-term payable 20,000,000.00 20,000,000.00
Estimated liabilities
Deferred income 56,820,000.00 67,360,000.00
Deferred income tax liabilities 29,485,678.28 29,485,678.28
Other non-current liabilities
Total non-current liabilities 2,642,171,193.05 2,627,375,741.14
Total liabilities 27,184,174,324.84 28,822,960,328.75
Owners’ equity (or shareholders’
equity):
Paid-in capital (or share capital ) 6,368,416,700.00 6,368,416,700.00
Other equity instruments 473,061,264.64 473,061,264.64
Including: preference shares
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
perpetual bonds
Capital reserve 4,182,825,672.98 4,182,825,672.98
Less: treasury stock
Other comprehensive income 13,005,452.25 7,791,344.47
Surplus reserve 1,683,155,091.65 1,683,155,091.65
Undistributed profits 2,237,984,247.71 2,239,335,007.65
Total owners’ equity (or shareholders’
14,958,448,429.23 14,954,585,081.39
equity)
Total liabilities and owners’ equity
42,142,622,754.07 43,777,545,410.14
(or shareholders’ equity)
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Consolidated Income Statement
January-March 2019
Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items First quarter of 2019 First quarter of 2018
Ⅰ.Total operating revenue 48,043,265,870.34 43,609,601,739.36
Including: operating revenue
interest income
insurance premiums earned
fee and commission income
Ⅱ. Total cost of operations 45,590,068,619.86 41,368,597,195.96
Including: operating cost 34,031,470,881.04 30,999,495,660.70
interest expenses
Fee and commission expenses
Insurance withdrawal payment
Net payment from indemnity
Net provisions withdrew for insurance
contract
Insurance policy dividend paid
Reinsurance cost
Taxes and surcharges 231,507,156.07 224,461,457.41
Selling expenses 7,200,387,965.14 6,423,248,604.88
Administrative expenses 1,868,650,431.02 1,646,313,944.01
R&D expenses 1,534,693,885.11 1,307,185,173.77
Financial expenses 441,163,370.56 518,426,762.70
Including: interest expenses 410,800,313.48 345,053,255.05
interest income 123,961,763.88 135,923,774.22
Loss on assets impairment 215,322,646.22 168,457,066.31
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Loss on credit impairment 66,872,284.70 81,008,526.18
Add: Other income 99,386,924.79 105,727,350.18
Investment income (losses are 295,937,088.57 243,010,339.90
represented by “-”)
Including: Investment income of
associates and joint ventures
Exchange gain (losses are represented by
“-”)
Gains on net exposure hedges (losses are
represented by “-”)
Income from change in fair value (losses 221,898,309.95 207,293,485.79
are represented by “-”)
Gain from disposal of assets (losses are -3,192,061.07 1,268,375.75
represented by “-”)
Ⅲ.Operating profit (losses are represented by 3,067,227,512.72 2,798,304,095.02
“-”)
Add: non-operating income 105,739,702.28 111,872,540.18
Less: non-operating expenses 21,263,588.71 8,838,321.34
Ⅳ. Total profit (total losses are represented by 3,151,703,626.29 2,901,338,313.86
“-”)
Less: income tax expense 485,529,907.56 460,952,972.84
Ⅴ. Net profit (net losses are represented by “-”) 2,666,173,718.73 2,440,385,341.02
(I) Classification by continuous operation
1.Net profit from continuous operation 2,666,173,718.73 2,440,385,341.02
(net losses are represented by “-”)
2. Net profit from discontinuous
operation (net losses are represented by “-”)
(II)Classification by ownership of the
equity
1. Net profit attributable to shareholders 2,136,268,479.08 1,952,610,308.35
of the Parent Company (net losses are
represented by “-”)
2. Profit or loss attributable to minority 529,905,239.65 487,775,032.67
shareholders (net losses are represented by “-”)
VI. Other comprehensive income, net of tax -416,973,681.83 -333,103,336.79
Other comprehensive income attributable to -370,313,133.76 -287,601,356.58
owners of the Parent Company, net of tax
(I) Other comprehensive income that -1,616,393.65 -1,958,743.03
cannot be reclassified into the profit or loss
1. Changes arising from re-measurement -1,296,966.52 -1,280,674.80
of defined benefit plans
2. Other comprehensive income that
cannot be transferred into profit or loss under
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
equity method
3. Changes in fair value of investments in -319,427.13 -678,068.23
other equity instruments
4. Changes in fair value of credit risks of
the enterprise
(II) Other comprehensive income to be -368,696,740.11 -285,642,613.55
reclassified into the profit or loss
1. Other comprehensive income that can -34,948,498.63 -42,701,390.85
be transferred into profit or loss under equity
method
2. Changes in fair value of other debt
investments
3. Gain or loss from changes in fair value
of available-for-sale financial assets
4. Reclassified financial assets that are
credited to other comprehensive income
5. Gain or loss arising from
reclassification from held-to-maturity
investments to available-for-sale financial assets
6. Credit impairment provision for other
debt investments
7. Reserve for cash flow hedging -16,356,811.45 25,699,770.15
(Effective portion of gain or loss arising from
cash flow hedging)
8. Exchange differences on translation of -317,391,430.03 -268,640,992.85
financial statements
denominated in foreign currencies
9.Others
Other comprehensive income -46,660,548.07 -45,501,980.21
attributable to minority shareholders,
net of tax
Ⅶ. Total comprehensive income 2,249,200,036.90 2,107,282,004.23
Total comprehensive income attributable to 1,765,955,345.32 1,665,008,951.77
the owners of Parent Company
Total comprehensive income attributable to 483,244,691.58 442,273,052.46
the minority shareholders
Ⅷ . Earnings per share:
(I) Basic earnings per share(RMB/share) 0.335 0.320
(II) Diluted earnings per share(RMB/share) 0.323 0.317
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Income Statement of the Parent Company
January-March 2019
Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items First quarter of 2019 First quarter of 2018
I. Operating revenue 653,050,823.21 743,844,065.67
Less: Operation cost 465,367,983.61 533,278,383.46
Taxes and surcharges 4,366,015.94 5,402,608.47
Selling expenses 54,929,009.03 68,121,527.59
Administrative expenses 47,142,099.07 65,562,500.28
R&D expenses 51,156,977.29 42,654,252.11
Financial expenses 72,483,128.32 25,428,042.84
Including: interest expenses 53,825,389.44 59,353,054.62
interest income 10,654,831.16 34,863,886.90
Loss in assets impairment -573,267.56
Loss on credit impairment 10,058,187.90
Add: Other incomes 10,540,000.00 5,969,287.05
Investment income (losses are 26,461,323.35 50,428,218.53
represented by “-”)
Including: investment income of
associates and joint ventures
Gains on net exposure hedges (losses are
represented by “-”)
Income from change in fair value
(losses are represented by “-”)
Gain from disposal of assets (losses are
represented by “-”)
II. Operating profit (losses are represented by -4,819,799.14 49,736,068.60
“-”)
Add: non-operating income 5,432,063.63 8,370,547.68
Less: non-operating expenses 1,963,024.43 233,919.53
III. Total Profit (total losses are represented by -1,350,759.94 57,872,696.75
“-”)
Less: income tax expense 1,116,671.73
IV. Net Profit (net losses are represented by “-”) -1,350,759.94 56,756,025.02
(I) Net profit from continuous operations (net -1,350,759.94 56,756,025.02
losses are represented by “-”)
(II) Net profit from discontinuous operations
(net losses are represented by “-”)
V. Other comprehensive income, net of tax 5,214,107.78 7,680,578.08
(I) Other comprehensive income that cannot -108,758.38
be reclassified into the profit or loss
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
1. Changes arising from re-measurement of
defined benefit plans
2. Other comprehensive income that cannot
be transferred into profit or loss under equity
method
3 Changes in fair value of investments in -108,758.38
other equity instruments
4.Changes in fair value of credit risks of the
enterprise
(II) Other comprehensive income to be 5,214,107.78 7,789,336.46
reclassified into the profit or loss
1. Other comprehensive income that can be 5,214,107.78 7,789,336.46
transferred into profit or loss under equity
method
2. Changes in fair value of other debt
investments
3. Gain or loss from changes in fair value
of available-for-sale financial assets
4. Reclassified financial assets that are
credited to other comprehensive income
5. Gain or loss arising from reclassification
from held-to-maturity investments to
available-for-sale financial assets
6. Credit impairment provision for other
debt investments
7. Reserve for cash flow
hedging (Effective portion of gain or
loss arising from cash flow hedging)
8. Exchange differences on translation of
financial statements denominated in foreign
currencies
9. Others
VI. Total comprehensive income 3,863,347.84 64,436,603.10
VII. Earnings per share:
(I) Basic earnings per share(RMB/ share)
(II) Diluted earnings per share(RMB/share)
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Consolidated Cash Flow Statement
January-March 2019
Prepared by: Qingdao Haier Co., Ltd.
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items First quarter of 2019 First quarter of 2018
I. Cash flows from operating activities:
Cash received from the sale of goods 49,421,675,912.63 45,140,141,162.72
and
rendering of services
Net increase in customer and interbank
deposits
Net increase in borrowing from the
central bank
Net cash increase in borrowing from
other financial institutes
Cash received from premiums under
original insurance contract
Net cash received from reinsurance
business
Net increase in deposits of policy
holders and investment
Cash received from interest, fee and
commissions
Net increase in cash borrowed
Net increase in cash received from
repurchase operation
Net cash received from securities trading
agency services
Refunds of taxes 285,338,702.71 242,113,942.09
Cash received from other related 1,096,260,909.89 264,852,616.74
operating activities
Sub-total of cash inflows from 50,803,275,525.23 45,647,107,721.55
operating activities
Cash paid on purchase of goods and 37,483,129,681.61 32,683,623,829.10
services
Net increase in loans and advances of
customers
Net increase in deposits in PBOC and
interbank
Cash paid for compensation payments
under original insurance contract
Net increase in financial assets held for
trading purposes
Net increase in placements with banks
Cash paid for interest, fees and
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
commissions
Cash paid for insurance policy dividend
Cash paid to and on behalf of employees 5,404,866,583.57 4,555,705,272.24
Cash paid for all types of taxes 2,063,070,287.30 2,205,553,946.08
Cash paid to other operation related 4,528,688,984.44 4,032,010,132.85
activities
Sub-total of cash outflows from 49,479,755,536.92 43,476,893,180.27
operating activities
Net cash flows from operating 1,323,519,988.31 2,170,214,541.28
activities
II. Cash flows from investing activities:
Cash received from disposal of 1,006,225,645.16 124,427,666.14
investments
Cash received from return on 142,671,678.53 488,520.47
investments
Net cash received from the disposal of 183,509,600.45 88,176,463.21
fixed assets, intangible assets and other
long term assets
Net cash received from disposal of
subsidiaries and other operating entities
Cash received from other investment 4,692,533.64 67,249,789.10
related activities
Sub-total of cash inflows from 1,337,099,457.78 280,342,438.92
investing activities
Cash paid on purchase of fixed assets, 1,536,865,993.41 1,766,703,576.13
intangible assets and other long term
assets
Cash paid for investments 2,436,314,478.97 251,597,612.40
Net increase in secured loans
Net cash paid on acquisition of 2,642,988,600.64
subsidiaries and other operating entities
Cash paid on other investment 48,510,922.74 15,000.00
related activities
Sub-total of cash outflows from 6,664,679,995.76 2,018,316,188.53
investing activities
Net cash flows from investing -5,327,580,537.98 -1,737,973,749.61
activities
III. Cash flows from financing activities:
Cash received from capital contributions 12,389,310.79 8,278,135.66
Including: cash received from capital
contributions by minority shareholders of
subsidiaries
Cash received from borrowings 6,842,877,477.22 3,589,764,080.03
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Cash received from issuing bonds
Cash received from other financing 119,174,742.18
related activities
Sub-total of cash inflows from 6,855,266,788.01 3,717,216,957.87
financing activities
Cash paid on repayment of borrowings 3,236,695,125.56 5,291,464,063.74
Cash paid on distribution of dividends, 89,327,191.79 38,225,632.87
profits, or interest expenses
Including: dividend and profit paid to
minority shareholders by subsidiaries
Cash paid on other financing related 304,245,626.88 62,515,783.81
activities
Sub-total of cash outflows from 3,630,267,944.23 5,392,205,480.42
financing activities
Net cash flows from financing 3,224,998,843.78 -1,674,988,522.55
activities
IV. Effect of fluctuations in exchange -140,942,937.33 -402,254,739.32
rates on cash and cash equivalents
V. Net increase in cash and cash -920,004,643.22 -1,645,002,470.20
equivalents
Add: balance of cash and cash 36,044,777,414.04 34,861,907,957.01
equivalents at the beginning of the
period
VI. Balance of cash and cash equivalents 35,124,772,770.82 33,216,905,486.81
at the end of the period
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Cash Flow Statement of the Parent Company
January-March 2019
Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items First quarter of 2019 First quarter of 2018
I. Cash flows from operating activities:
Cash received from the sale of goods 453,512,055.88 816,513,664.12
and rendering of services
Refunds of taxes 2,857,893.58 2,249,452.13
Cash received from other related 12,380,281.31 21,182,595.59
operating activities
Sub-total of cash inflows from 468,750,230.77 839,945,711.84
operating activities
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Cash paid on purchase of goods and 13,988,526.97 221,179,942.07
services
Cash paid to and on behalf of employees 164,517,087.07 131,351,975.78
Cash paid for all types of taxes 15,152,947.75 29,006,267.68
Cash paid to other operation related 81,138,568.27 116,047,065.74
activities
Sub-total of cash outflows from 274,797,130.06 497,585,251.27
operating activities
Net cash flows from operating 193,953,100.71 342,360,460.57
activities
II. Cash flows from investing activities:
Cash received from disposal of 78,325.00
investments
Cash received from return on 1,232,418,382.82 12,000,613.55
investments
Net cash received from the disposal of
fixed assets, intangible assets and other
long term assets
Net cash received from disposal of
subsidiaries and other operating entities
Cash received from other investment
related activities
Sub-total of cash inflows from 1,232,418,382.82 12,078,938.55
investing activities
Cash paid on purchase of fixed assets, 18,686,978.91 11,279,152.65
intangible assets and other long term
assets
Cash paid for investments 2,164,037,398.72
Net cash paid on acquisition of
subsidiaries and other operating entities
Cash paid on other investment related
activities
Sub-total of cash outflows from 2,182,724,377.63 11,279,152.65
investing activities
Net cash flows from investing -950,305,994.81 799,785.90
activities
III. Cash flows from financing activities:
Cash received from capital contributions
Cash received from borrowings
Cash received from other financing 758,777,670.99
related activities
Sub-total of cash inflows from 758,777,670.99
financing activities
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
Cash paid on repayment of borrowings
Cash paid on distribution of dividends, 16,258,125.00
profits, or interest expenses
Cash paid on other financing related 2,998,907,357.18
activities
Sub-total of cash outflows from 3,015,165,482.18
financing activities
Net cash flows from financing -3,015,165,482.18 758,777,670.99
activities
IV. Effect of fluctuations in exchange -3,064,416.93 -1,723.67
rates on cash and cash equivalents
V. Net increase in cash and cash -3,774,582,793.21 1,101,936,193.79
equivalents
Add: balance of cash and cash 7,068,899,574.96 2,070,527,802.97
equivalents at the beginning of the period
VI. Balance of cash and cash equivalents 3,294,316,781.75 3,172,463,996.76
at the end of the period
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
1.2 The implementation of the new financial instrumental standards , the new income standards, new lease
standards adjust the first implementation of the relevant items in financial statement at the beginning of year
√Applicable □Not Applicable
The company has implemented the new Financial Instrument Standards and new income standards in
advance since 2018. For details, please refer to the 2018 annual report disclosed on the same day as this
periodic report. The new lease standards were implemented on 1 January 2019, no retrospective
adjustments are required for the company's beginning and year-on-year data.
Explanation of the adjustment of each item
□Applicable √Not Applicable
Others
□Applicable √Not Applicable
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2019 First Quarterly Report of Qingdao Haier Co., Ltd.
1.3 Explanation of the comparative data of prior period in the retrospective adjustment made according to the
first implementation of the new financial instruments standards and new lease standards.
√Applicable □Not Applicable
Please refer to the above 1.2.
1.4 Audit report
□Applicable √Not Applicable
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