Haier Smart Home Co., Ltd. 2022 First Quarter Report
Stock Code: 600690 Short Name: Haier Smart Home
Haier Smart Home Co., Ltd.
2022 First Quarter Report
The Board of Directors (the “Board”) and the Directors of Haier Smart Home Co., Ltd. (the
“Company”) hereby assure that this announcement is free from any false record, misleading
representation or material omission and are legally responsible for the trueness, accuracy and
completeness of the content set out herein.
Important Notice
The board of directors (the “Board”), the board of supervisors, directors, supervisors and senior
management of 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.
The legal representative of the Company, chief financial officer of the Company and person in
charge of accounting department hereby certify that the financial statement information set out in the
quarterly report is true, accurate and complete.
Whether the first quarterly report has been audited or not
□Yes √No
I. Key Financial Information
(I) Major accounting data and financial indicators
Unit and Currency: RMB
Year-on-year
During the For the corresponding period of last increase/decrease
Items
Reporting Period year during the Reporting
Period (%)
Before adjustment After adjustment After adjustment
Operating revenue 60,250,997,851.46 54,773,701,753.64 54,772,592,531.47 10.00
Net profit attributable to
shareholders of the listed
Company 3,517,044,899.45 3,053,933,589.63 3,055,155,689.55 15.12
Net profit after deduction of
non-recurring profit or loss
attributable
to shareholders of the listed
Company 3,190,978,313.06 2,823,027,182.06 2,823,027,182.06 13.03
Net cash flow from operating
activities 1,154,796,354.40 2,863,386,935.66 2,868,305,560.21 -59.74
Basic earnings per share
(RMB per share) 0.38 0.33 0.33 15.15
Diluted earnings per share
(RMB per share) 0.38 0.33 0.33 15.15
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
Weighted average return on decrease by 0.10
net assets (%) 4.28 4.38 4.38 percentage points
Increase/decrease at
the end of the
At the end of the
At the end of last year Reporting Period
Reporting Period
compared to the end
of last year (%)
Before adjustment After adjustment After adjustment
Total assets 215,409,453,493.38 217,459,494,212.74 217,459,494,212.74 -0.94
Owner equity attributable to
shareholders of the listed
Company 84,082,609,436.94 79,810,927,325.55 79,810,927,325.55 5.35
Reasons for retroactive adjustments or restatement
In the fourth quarter of 2021, the Company completed the relevant matters in respect of the
acquisition of Qingdao Haier Quality Testing Co., Ltd. (For details of the acquisition matters, please
refer to the “Announcement on the Acquisition of Equity Interest in a Subsidiary from Haier Group
Corporation by Haier Smart Home Co., Ltd. and Connected Transaction” disclosed on 30 October
2021 by the Company and relevant announcements) The transaction is a business combination under
common control and the Company has subsequently restated the comparative statements for the
corresponding period in accordance with relevant accounting standards.
During the Reporting Period, in light of the challenges arising from weak market demand,
consistently high price of bulk raw materials and resurgence of COVID-19, the Company
adhered to the strategic goal of becoming a smart home ecosystem brand in the Internet of
Things era, continued to strengthen its high-end brand advantage through product upgrade
and innovation, and implemented whole-process digital transformation to achieve cost
reduction and efficiency improvement. We explored weak network business in domestic
market while continuing our high-end brand building strategy in the overseas market,
expanded the advantages in our core home appliances and tapped into new business areas to
achieve sustainable and steady business development.
Performance of Key Indicators
I. Revenue and profit
In the first quarter of 2022, the Company realized revenue of RMB 60.251 billion and
net profit attributable to the owners of the parent company of RMB3.517 billion,
representing an increase of 10.0% and 15.1% as compared to the corresponding period of
2021.
1.Smart Home and other Businesses in China
The Company delivered solid results through enhancing operational efficiency and
improving user experience. On one hand, business operational efficiency and cost
competitiveness were enhanced through digitalization, innovative operational model and
establishment of whole process and full staff cost system. On the other hand, retail sales were
increased through integration of online and offline stores and establishment of end-to-end
digital platform, which optimized the resource input with better performance and reduced the
proportion of underperforming regions, thus facilitating customer acquisition and boosting
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
the conversion efficiency. Furthermore, we accelerated expansion in home improvement
channels by opening 120 new Three-Winged Bird 001 stores to capture increasing consumer
demand for comprehensive built-in appliances packages.
In the first quarter of 2022, revenue from the smart home and other businesses in China
increased by 16.0% as compared to the corresponding period of 2021 while Casarte’s sales
revenue increased by 32.3% year-on-year from 2021.
（1） Household Food Storage and Cooking Solutions (Internet of Food)
Refrigerator
According to CMM, by retail revenues, our leadership was strengthened with shares of
online and offline refrigerator market were 38.6% and 42.8% respectively in the first quarter
of 2022.
During the reporting period, the Company focused on product mix upgrades, digital
efficiency enhancement and smart manufacturing. Boguan refrigerators boasting cell-level
freshness preservation was launched to fully meet more sophisticated demand of preserving
food ingredients, thus contributing to the increases of medium- and high-end products. We
also developed dual-axis variable hinges and moved the cooling units to the bottom to further
enhance the competitiveness of our built-in refrigerators. Through scenario solutions
characterized by premium preservation and integrated design of cabinet and kitchen, we
pioneered the trend of home appliance and home furnishing integration. In addition, the
publication of Built-in Refrigerator Standard established the installation standard of built-in
units in order to further improve user experiences.
Kitchen Appliance
According to CMM, by retail revenues, our shares of online and offline kitchen
appliances market were 4.5% and 7.3% respectively in the first quarter of 2022, while
Casarte’s market share recorded a year-on-year growth of 0.9 percentage points offline.
During the reporting period, the Company focused on high-end solution strategy and
accelerated expansion in home improvement channels by launching bestsellers such as
Casarte Gourmet and Galaxy series, both of which contributed to Casarte’s kitchen appliance
revenue growth of 70.3% year-on-year with 96.7% revenue increase from dish washers. 859
new sales outlets were developed in home improvement channels and lower tier markets
during the period. We also made effort to gain user recognition with Three-Winged Bird
kitchen scenarios solutions, formed cross-industry alliances with interior designers,
organized interactive events such as “super BBQ”, while offering cleaning and upgrading
services to boost user conversion efficiency.
（2） Household Laundry Solutions (Internet of Clothing)
According to CMM, by retail revenues, the Company’s leadership consolidated with
market share of 40.3% online and 45.4% offline in the first quarter of 2022; in particular, our
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
shares of online and offline tumble dryer market increased by 2.5 and 2.3 percentage points
respectively reaching 27.6% and 35.3%, putting us in top one position offline.
During the Reporting Period, the Company expedited the development of tumble dryers
growth with continuous innovation. Casarte’s Zhongzihemei series addresses users’ concern
of separated washing and drying with additional space required to stack two machines, and
it achieved market share of 95% in top washer + bottom dryer category. The Company also
achieved 114% revenue growth from tumble dryers with increased investment and new
product launches including Casarte Xianjianhemei (纖見和美) Dryer.
（3） Air Solutions
Home air conditioning
The Company focused primarily on smart and health-conscious products, strengthened
the retail transformation and made breakthroughs in medium to high end products. According
to CMM, by retail revenues, Haier’s online and offline market share was 13.7% and 19.6%
respectively. Leveraging on growing product portfolio of Casarte and Haier water-cleaning
air conditioner, our market share in the high-end home air conditioners (hanging machines
priced above RMB4,000 and standing machines priced above RMB10,000) reached 24.3%,
up by 4.8 percentage points year-on-year.
During the Reporting Period, the Company focused on growing revenue with
differentiated product innovation where Haier features healthy air, Casarte features double
tower of soft wind while Leader caters for young and trendy demand. Meanwhile, we
enhanced retail transformation, strived to achieve full user coverage, 1,515 new franchise
stores were developed to increase presence in air conditioner, HVAC and water solutions
channels. Capitalizing on the brand awareness of the Three-Winged Bird scenario solutions
and the three-in-one user platform (including sales, design and service), home central air
conditioner revenue grew by over 70% leveraging on Three Winged Bird one stop purchase,
design and service solutions.
Commercial air conditioning
The Company focused on meeting segmented user demand with exclusive customized
air solutions for different scenarios such as transportation, commercial real estate, data
centres and hotels: 1. The Company's introduced more environmentally friendly HFO
refrigerant in maglev air conditioners to address our users’ concern of carbon reduction and
environment protection. 2. In the European market, we released R32 environmental
protection refrigerant air source heat pump products that heat water, kills bacteria and
automatically adjust temperature, without having to heat water and the room at different
temperature, thus well-received by local users.
（4） Household Water Solutions
Water heater
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
According to CMM, in the first quarter of 2022, by retail revenues, our shares of online
and offline water heater market were 32.7% and 29.3% respectively.
During the reporting period, our water heater business continued to enhance user
experience through technological innovation and product upgrade.1. Following the launch of
limescale free, leakage free, rust free Casarte Crystal Tank Galaxy series, we developed a
new series of double-tank electric water heaters to capture user demand for better bath
experience with small size, appealing design and large capacity water heaters. 2. Gas water
heaters revenue grew by 30% leveraging on technological innovation, the Company
innovated gas-electric hybrid technology, which uses both natural gas and electricity for
optimal energy usages and constant temperature, bringing users a great bathing experience.
3. We also made efforts to extend our services and solutions into local communities in order
to improve user conversion efficiency.
Water purifier
During the reporting period. our water purifier business grew by almost 30% despite
19.7% industry decline. 1. With continuous innovation to meet user demand, Casarte
launched strontium-rich water purifier, which provides strontium-rich water solutions.2.
Supply chain capability was enhanced and the Company started manufacturing its own filter,
water circuit board and moulding modules, laying down solid foundations for future growth.
II. Overseas home appliances and smart home businesses
In the first quarter of 2022, the Company’s overseas business grew by 4.2% and
operating profit margin increased by 0.1 percentage points as compared with the same period
in 2021.
Amid escalating input costs and logistic bottleneck in the overseas markets, the
Company continued to strengthen its core home appliance business through diversified
solutions and product upgrades while actively explored new product categories. Business
transformation was accelerated through precise marketing online channels and distribution
network integration offline. Leveraging the advantages of the global collaborative platform,
we took the initiative to address the challenges of rising raw material and freight costs
through joint negotiations, allocation optimization and strategic procurement to secure
product supply.
(1) The American Market
During the first quarter of 2022, despite of a challenging environment, we gained core
appliance share in North America region. The revenue from premium brands including
Monogram, Caféand GE Profile grew by over 30%. We continued to enhance our premium
product leadership by launching 36’ build-in column refrigerator, releasing “Over the Air”
(OTA) upgrades to our smart oven owners to continue to enhance their post-sale experience,
and introducing GE Profile brand top-load washing machine to the marketplace. Meanwhile,
our Supply Chain and Human Resources teams joined efforts to drive the “total employee
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
value proposition” initiative and made significant progress on our hourly employee hiring
and retention. Besides offering market-based wage and benefits, our focus on shift flexibility,
safe and accommodating working environment, and positive working group culture played
key factor in improving our labor force stability and productivity. The output from GEA’s
factories hit record level in the month of March. In addition, we accelerated new business
developments in air-conditioning, water heaters, and small appliances to unlock future
growth potentials. We have developed new partners in HVAC and construction industry trade
shows. RealMAX gas water heater (manufactured in our newly opened Camden, SC factory)
and new central air conditioner units unveiled at AHR Expo (The International Air-
Conditioning, Heating, Refrigeration Exposition) received wide recognition; Our one-stop
shop service model gained strong interests.
(2) The European Market
The Company adhered to its high-end transformation strategy and promoted the
localization of operation. GFK recognized the Company to be the fastest growing company
in the local market in terms of sales volume and sales revenue as of February 2022. Qingdao
headquarters joined hands with European R&D centre to launch a new product series of
Cube90 refrigerator with independent cold air supply system and special filter, which reduce
odour and improve user experience in ice making function. The production capacity of the
Romanian refrigerator factory was gradually ramping up, and the output in the first quarter
of 2022 has exceeded the total output since its commissioning last year.
II. Gross Profit Margin
As always, the Company focuses on product innovation and the establishment of world-
leading R&D system, development of high-end brands, local capacity building in the three
aspects of “R&D, marketing and manufacturing” in overseas markets, and multi-brand
operating capability, which enable the Company to properly respond to challenges brought
about by adverse factors such as rising costs.
In the first quarter of 2022, gross profit margin of the Company was 28.5%, representing
an increase of 0.05 percentage points as compared with the same period in 2021. In the
domestic market, the proportion of revenue from Casarte continued to increase and refined
manufacturing was implemented to achieve low-cost manufacturing and efficient delivery to
hedge against the negative impact of rising commodity prices. In the overseas market, given
high transportation costs, coupled with challenges of rising raw material prices, each region
hedged its cost pressure by adjusting its market strategy, increasing the proportion of mid- to
high-end products, continuously optimizing the supply chain layout, and reducing costs and
improving efficiency.
III. Operating Expenses Ratio
1. The selling expense ratio of the Company in the first quarter of 2022 was 13.9%,
representing an improvement of 0.4 percentage points as compared with the same
period in 2021. In the domestic market, the Company continuously implemented digital
transformation, building up the cost awareness of all employees to improve the
efficiency in marketing expenses and organizational operation. In the overseas market,
the Company continued product mix upgrade, and accelerated information system
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
implementation to improve operational efficiency and optimize the selling expense
ratio through effective expense control.
2. The administrative expense ratio in the first quarter of 2022 was 3.6%, representing an
improvement of 0.3 percentage points as compared with the same period in 2021. The
improvement in administrative expense ratio was attributable to the digital
transformation, personnel enhancement and operation efficiency of the Company.
3. The research and development expense ratio in the first quarter of 2022 was 4.1%,
representing an increase of 0.3 percentage points year on year. It was mainly due to the
major investment in the core technology for the smart home segment and efforts in our
core capabilities to promote the subversive and advanced technology layout of various
industries, and the construction of technical capabilities in the Three-Winged Bird
scenario brand.
4. The financial expense ratio in the first quarter of 2022 was 0.2%, representing a
decrease of 0.1 percentage point year on year. The decrease was mainly due to a
decrease in interest expenses resulting from the conversion of the convertible bonds,
repayment of borrowings and replacement of borrowings with low interest rate of the
Company; and an increase in interest income resulting from enhanced capital
management efficiency.
IV. Working Capital
1. Trade and bill receivable turnover days
The trade and bill receivable turnover days of the Company was 40.4 days in the first
quarter of 2022, representing a decrease of 6.1 days as compared with the end of 2021, which
was mainly attributable to the effective control over trade and bill receivables of the
Company.
2. Inventory turnover days
The inventory turnover days of the Company was 84.5 days in the first quarter of
2022, representing an increase of 3.6 days as compared to the end of 2021, which was mainly
attributable to increased efforts in inventory preparation amid limited overseas logistic
capacity.
3. Trade and bill payable turnover days
In the first quarter of 2022, trade and bill payable turnover days was 142 days,
representing a decrease of 3.7 days as compared to the end of 2021, which was mainly
attributable to the change in payment cycle arising from the switch of procurement method.
V. Cash Flow Analysis
1. Net cash flow from operating activities for the period amounted to RMB1.155 billion,
representing a decrease of RMB1.714 billion as compared to the corresponding period.
It was mainly due to bulk commodity inventory and procurement and consumption of
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
chips, decrease in payment collection resulting from the impact of pandemic and
increased efforts in inventory preparation amid limited overseas logistic capacity for
the period;
2. Net cash outflow from investing activities for the period amounted to RMB2.474
billion, representing an increase of RMB1.853 billion as compared to the
corresponding period, which was mainly due to the cash outflow from the purchase of
wealth management products for the period and cash inflow from the redemption of
wealth management products in the same period;
3. Net cash inflows from financing activities for the period amounted to RMB1.702
billion, while net cash outflows in financing activities for the corresponding period
amounted to RMB4.351 billion, which was mainly due to the additional issuance of H
Shares to raise cash inflow and the repayment of ultra short-term facilities for the
period.
VI. Capital Expenditure
The Company assesses its capital expenditure and investments in each segment in
China and overseas from time to time. The capital expenditure in the first quarter of 2022
was RMB1.738 billion, of which RMB0.867 billion and RMB0.871 billion were used in
China and overseas, respectively, primarily for plant and equipment construction, property
rental, and digital infrastructure.
VII. Asset-liability Ratio
At the end of the first quarter in 2022, the Company’s asset-liability ratio was 60.3%,
representing a decrease of 2.4 percentage points as compared to the end of 2021, which was
mainly due to the ongoing conversion of convertible bonds and increase in net profit.
(II) Non-recurring profit or loss items and amounts
Unit and Currency: RMB
Items Amounts in the
Reporting Period
Profit and loss from disposal of non-current assets -3,203,893.61
Government subsidies included in current profit or loss, except for
government subsidies that are closely related to the Company's normal
business operations, comply with national policies and regulations, and
continue to be enjoyed in a fixed amount or fixed quantity according to
certain standards 226,010,236.42
Profit and loss from change in fair value of held-for-trading financial
assets, derivative financial assets, held-for-trading financial liabilities,
derivative financial liabilities and investment gains from disposal of held-
for-trading financial assets, derivative financial assets, held-for-trading
financial liabilities, derivative financial liabilities, and other equity
investment, other than effective hedging business relating to the normal
operations of the Company 126,793,110.17
Other non-operating income and expenses other than the above 16,414,563.25
Less: effect on income tax 37,145,649.32
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
Effect on minority interests (after tax) 2,801,780.52
Total 326,066,586.39
Description on categorizing the non-recurring profit or loss items listed in the Interpretative
Announcement No. 1 of the Information Disclosure of the Companies Public Offering Securities —
Non-recurring Profit or Loss (公開發行證券的公司信息披露解釋性公告第 1 號——非經常性損
益) as recurring profit or loss item
□Applicable √Not Applicable
(III) Changes in major accounting data and financial indicators and reasons
√Applicable □Not Applicable
Percentage
Items of change Main reasons
(%)
It was mainly due to bulk commodity inventory and
procurement and consumption of chips, decrease in
Net cash flow from
-59.74 payment collection resulting from the impact of
operating activities
pandemic and increased efforts in inventory preparation
amid limited overseas logistic capacity
II. PARTICULARS OF SHAREHOLDERS
(I) Total number of ordinary shareholders and the number of preferential shareholders with
restored voting rights and the shareholdings of the top 10 shareholders
Unit: share
Total number of ordinary Total number of preferential shareholders with
shareholders as of the end of the 177,413 restored voting rights as of the end of the Reporting N/A
Reporting Period Period (if any)
Shareholdings of the top 10 shareholders
Number of Pledged, marked or
Percentage of shares held frozen
Nature of Number of
Name of shareholders shareholdings subject to
shareholders shares held
(%) trading
moratorium Status Number
HKSCC NOMINEES
Unknown 2,239,601,283 23.71 Unknown
LIMITED (note)
Domestic non-
Haier COSMO Co., Ltd. state owned 1,258,684,824 13.32 Nil
legal entity
Domestic non-
Haier Group Corporation state owned 1,072,610,764 11.35 Nil
legal entity
Hong Kong Securities Clearing
Unknown 673,419,377 7.13 Nil
Company Limited
HCH (HK) INVESTMENT
Foreign legal
MANAGEMENT CO., 538,560,000 5.70 Nil
entity
LIMITED
China Securities Finance
Unknown 182,592,654 1.93 Nil
Corporation Limited
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
Qingdao Haier Venture & Domestic non-
Investment Information Co., state-owned 172,252,560 1.82 Nil
Ltd. legal entity
Qingdao Haichuangzhi
Domestic non-
Management Consulting
state-owned 118,924,416 1.26 Nil
Enterprise (Limited
legal entity
Partnership)
China Merchants Bank Co.,
Ltd. －Xingquan Herun Hybrid Unknown 86,987,772 0.92 Nil
Securities Investment Fund
ALIBABA INVESTMENT
Unknown 83,823,993 0.89 Unknown
LIMITED
Shareholdings of the top 10 shareholders not subject to trading moratorium
Number of listed Class and number of shares
shares not subject
Name of shareholders
to trading Class Number
moratorium held
Overseas listed foreign
HKSCC NOMINEES LIMITED 2,239,601,283 2,239,601,283
shares
Haier COSMO Co., Ltd. 1,258,684,824 RMB ordinary shares 1,258,684,824
Haier Group Corporation 1,072,610,764 RMB ordinary shares 1,072,610,764
Hong Kong Securities Clearing Co., Ltd. 673,419,377 RMB ordinary shares 673,419,377
HCH (HK) INVESTMENT MANAGEMENT Overseas listed foreign
538,560,000 538,560,000
CO., LIMITED shares
China Securities Finance Corporation Limited 182,592,654 RMB ordinary shares 182,592,654
Qingdao Haier Venture & Investment Information
172,252,560 RMB ordinary shares 172,252,560
Co., Ltd.
Qingdao Haichuangzhi Management Consulting
118,924,416 RMB ordinary shares 118,924,416
Enterprise (Limited Partnership)
China Merchants Bank Co., Ltd. －Xingquan
86,987,772 RMB ordinary shares 86,987,772
Herun Hybrid Securities Investment Fund
Overseas listed foreign
ALIBABA INVESTMENT LIMITED 83,823,993 83,823,993
shares
(1) Haier COSMO Co., Ltd. is a subsidiary of Haier Group Corporation. Haier
Group Corporation holds 51.20% of its equity. Qingdao Haier Venture &
Investment Information Co., Ltd. (青島海爾創業投資諮詢有限公司),
HCH (HK) INVESTMENT MANAGEMENT CO., LIMITED, Qingdao
Explanation of associations or actions in concert Haichuangzhi Management Consulting Enterprise (Limited Partnership)
among the above shareholders are parties acting in concert with Haier Group Corporation;
(2) The Company is not aware of the existence of any connections of other
shareholders.
As at the end of the Reporting Period, Qingdao Haichuangzhi Management
Explanation of the top 10 shareholders and the top
Consulting Enterprise (Limited Partnership) engaged in refinancing and
10 shareholders not subject to trading moratorium
securities lending business, involving a total of 1,698,000 shares, whilst the
engaging in the margin trading and short selling
ownership of which had not been transferred. The actual number of shares held
and refinancing business (if any)
by it totalled 120,622,416 shares.
Note: HKSCC NOMINEES LIMITED is the collective account for the Shareholders of H shares.
The above figure is the data provided by the Hong Kong securities registration agency in China to
the Company after consolidation of figures according to local market practices and technical
settings. This does not represent the ultimate shareholder.
III. OTHER REMINDERS
Other significant information regarding the Company's operations during the Reporting Period
should be brought to the attention of investors
√ Applicable □Not Applicable
(1) External guarantees: As of the end of the Reporting Period, the external guarantees provided
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
by the Company and its subsidiaries were guarantees between the Company and its subsidiaries,
the total balance of which amounted to RMB11.037 billion, accounting for 13.8% of the
Company’s latest audited net assets and 5.1% of the latest total assets.
(2) Foreign exchange derivative: As of the end of the Reporting Period, the aggregate balance of
the Company’s foreign exchange derivative transactions amounted to approximately USD1.94
billion.
(3) Entrusted wealth management: By the end of the Reporting Period, the balance of the
Company’s entrusted wealth management amounted to RMB3.316 billion, including two parts:
① wealth management products for temporarily idle fund raised previously: at the end of
December 2018, the Company’s proceeds for the issuance of convertible corporate bonds were
fully received. In order to improve the yield of temporarily-idle funds, the Company intended to
carry out cash management with the amounts not exceeding RMB0.5 billion after approved by
the Board. By the end of the Reporting Period, the balance of the entrusted wealth management
amounted to RMB0.19 billion; ② temporary-idle funds wealth management applied by the
Company and certain of its subsidiaries: Under the premise of ensuring sufficient capital
required by the principal operating activities and daily operations, the Company and some of its
subsidiaries purchased some low risk wealth management products and structured deposits from
major commercial banks to improve the yield of temporarily-idle funds and the return for
shareholders within the authority of the president’s office meeting and under the condition of
ensuring fund safety. By the end of the Reporting Period, the balance of the entrusted wealth
management amounted to RMB3.126 billion.
(4) Progress of the A-share repurchases: On 30 March 2022, the Company convened the 27th
meeting of the 10th session of the Board, which considered and approved the Resolution in
Relation to the Repurchase Plan of a Portion of Public A Shares of Haier Smart Home Co., Ltd.
It approved the Company to use its own funds to repurchase a portion of A shares of the
Company by way of centralised bidding. The repurchase price is no more than RMB35 per share
and the proposed total repurchase amount is no more than RMB3.0 billion and no less than
RMB1.5 billion. The period of this repurchase is within 12 months from the date the Board
considered and approved the resolution of repurchase of shares. As at the end of the Reporting
Period, the repurchase has not commenced.
(5) Progress of the matters in relation to share incentives: The Company held the second
extraordinary general meeting of 2021 and other relevant meetings on 15 September 2021 to
consider and approve the "2021 A Share Option Incentive Scheme (draft) of Haier Smart Home
Co., Ltd. and its summary". The share incentive plan involved a total of 51,000,000 share options
(of which 46,000,000 options would be granted under the first grant and 5,000,000 options would
be reserved), with an exercise price of RMB25.63 per share. On 15 December 2021, the
Company held the 25th meeting of the tenth session of Board and other relevant meetings to
consider and approve the "Resolution on the Grant of the Reserved Share Options under The
2021 A Share Option Incentive Scheme to the Participants of Haier Smart Home Co., Ltd.", after
which the works related to the grant of the reserved share options under the Share Option
Incentive Scheme was completed. During the Reporting Period, registration of the grant was
completed. Please refer to Announcement of Haier Smart Home Co., Ltd. on Completion of
Registration of the Grant of the Reserved Share Options under The 2021 A Share Option
Incentive Scheme issued on 19 January 2022 for further details.
(6) Progress of the matters in relation to shareholding increase by shareholder: On 8 March
2022, Qingdao Haichuangzhi Management Consulting Enterprise (Limited Partnership)
(hereinafter referred to as “Haichuangzhi”), a concerted actor of Haier Group Corporation which
is the actual controller of the Company informed the Company that, Haichuangzhi intended to
increase their shareholdings in the Company’s A shares within the time frame permitted by
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
relevant laws and regulations in the next 6 months with an accumulated amount of shareholding
increase no less than RMB200 million but not over RMB350 million (including the shares of the
Shareholding Increase). As at the end of the Reporting Period, the Shareholding Increase were
completed, and Haichuangzhi has accumulatively increased its holdings by 15,712,200 A shares
in the Company, with the shareholding increase amounting to approximately
RMB347,719,237.42. Please refer to Announcement of Haier Smart Home Co., Ltd. on the
Increase in Shareholding of the Company by Actual Controller's Concerted Actor and
Announcement of Haier Smart Home Co., Ltd. on Implementation Result of the Increase in
Shareholding of the Company by Actual Controller's Concerted Actor issued on 9 March 2022
and 19 March 2022 respectively for further details.
IV. Quarterly Financial Statements
(I) Type of Audit Opinion
□Applicable √Not Applicable
(II) Financial Statements
Consolidated Balance Sheet
31 March 2022
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Review: Unaudited
Items 31 March 2022 31 December 2021
Current assets:
Monetary fund 46,244,083,521.60 45,857,170,275.40
Provision of settlement fund
Funds lent
Financial assets held for trading 2,656,863,293.96 2,786,075,529.09
Derivative financial assets 39,153,864.31 79,819,974.01
Bills receivable 9,329,284,796.10 13,354,791,068.29
Accounts receivable 16,073,565,476.47 14,631,018,397.43
Financing receivables
Prepayments 655,957,476.70 857,233,123.00
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserves receivable
Other receivables 1,972,164,521.84 1,955,082,163.25
Including: Interest receivable
Dividend receivable
Financial assets purchased under resale
agreements
Inventories 39,847,032,277.52 39,863,171,040.31
Contract assets 320,661,362.76 304,434,294.70
Assets held for sale
Non-current assets due in one year
Other current assets 4,203,932,606.05 3,918,981,117.19
12
Haier Smart Home Co., Ltd. 2022 First Quarter Report
Total current assets 121,342,699,197.31 123,607,776,982.67
Non-current assets:
Loans and advances granted
Debt investments
Other debt investments
Long-term receivables 295,497,213.74 308,998,755.30
Long-term equity investments 23,694,494,500.53 23,232,200,859.25
Investments in other equity instruments 4,841,297,700.90 4,848,709,438.96
Other non-current financial assets
Investment properties 24,413,961.10 24,964,888.48
Fixed assets 22,455,738,327.89 22,307,089,801.15
Construction in progress 4,211,192,449.03 4,183,263,398.79
Biological assets for production
Oil and gas assets
Right-of-use assets 2,840,562,008.88 2,734,016,745.17
Intangible assets 9,356,306,654.43 9,549,607,918.13
Development cost 346,005,789.12 227,892,229.13
Goodwill 21,716,965,547.05 21,827,103,060.76
Long-term prepaid expenses 646,964,077.96 588,676,388.91
Deferred income tax assets 1,674,574,684.45 1,854,809,732.90
Other non-current assets 1,962,741,380.99 2,164,384,013.14
Total non-current assets 94,066,754,296.07 93,851,717,230.07
Total assets 215,409,453,493.38 217,459,494,212.74
Current liabilities:
Short-term borrowings 11,918,437,135.36 11,226,212,134.39
Borrowings from central bank
Due to banks and other financial institutions
Financial liabilities held for trading 311,349.95 6,294,014.40
Derivative financial liabilities 87,130,911.96 80,212,433.24
Bills payable 26,856,069,931.01 25,023,238,406.72
Accounts payable 39,767,335,586.35 42,344,857,144.49
Receipts in advance
Contract liabilities 6,381,711,441.58 10,016,870,340.44
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
Payables for staff's remuneration 3,130,747,103.19 4,113,881,586.96
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
Taxes payable 2,397,234,111.69 2,603,683,461.84
Other payables 16,806,469,680.20 17,524,160,065.70
Including: Interest payable
Dividend payable
Fees and commissions payable
Reinsurance accounts payables
Liabilities held for sale
Non-current liabilities due within one year 9,497,623,718.63 9,623,014,847.76
Other current liabilities 1,584,896,102.10 2,234,530,124.82
Total current liabilities 118,427,967,072.02 124,796,954,560.76
Non-current liabilities:
Deposits for insurance contracts
Long-term borrowings 2,969,097,714.03 3,038,573,824.53
Bonds payable 234,601,315.04 334,730,048.82
Including: Preference shares
Perpetual bonds
Lease liabilities 2,062,970,955.04 1,960,894,981.47
Long-term payables 49,326,070.86 99,602,707.76
Long-term payables for staff’s remuneration 1,140,839,981.24 1,173,151,761.64
Estimated liabilities 2,103,307,870.21 1,948,565,477.11
Deferred income 849,346,458.58 852,794,567.20
Deferred income tax liabilities 2,126,273,722.03 2,121,803,173.83
Other non-current liabilities 34,601,547.07 49,461,683.90
Total non-current liabilities 11,570,365,634.10 11,579,578,226.26
Total liabilities 129,998,332,706.12 136,376,532,787.02
Owners' equity (or shareholders' equity):
Paid-in capital (or share capital) 9,446,522,864.00 9,398,704,530.00
Other equity instruments 82,819,303.57 118,017,507.59
Including: Preference shares
Perpetual bonds
Capital reserve 23,778,407,054.17 22,549,345,568.94
Less: treasury stock 2,424,038,819.70 2,424,038,819.70
Other comprehensive income -1,652,241,803.54 -1,176,851,699.92
Special reserve
Surplus reserve 3,438,615,909.84 3,438,615,909.84
General risk provisions
Undistributed profits 51,412,524,928.60 47,907,134,328.80
Total equity attributable to owners (or
shareholders) of the Parent Company 84,082,609,436.94 79,810,927,325.55
Minority shareholders' interests 1,328,511,350.32 1,272,034,100.17
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Haier Smart Home Co., Ltd. 2022 First Quarter Report
Total owners' equity (or shareholders' equity) 85,411,120,787.26 81,082,961,425.72
Total liabilities and owners' equity (or
shareholders' equity) 215,409,453,493.38 217,459,494,212.74
Person in charge of the Company: Liang Haishan Person in charge of accounting function: Gong
Wei Person in charge of accounting department: Ying Ke
Consolidated Profit Statement
January-March 2022
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Review: Unaudited
First quarter of First quarter of
Items
2022 2021
Ⅰ. Total operating revenue 60,250,997,851.46 54,772,592,531.47
Including: Operating revenue 60,250,997,851.46 54,772,592,531.47
Interest income
Insurance premiums earned
Fee and commission income
Ⅱ. Total cost of operations 56,398,614,588.02 51,508,443,522.30
Including: Operating cost 43,054,093,037.06 39,169,088,949.86
Interest expenses
Fee and commission expenses
Insurance withdrawal payment
Net payment from indemnity
Net provisions withdrew for insurance
liability
Insurance policy dividend paid
Reinsurance cost
Taxes and surcharges 142,195,327.93 143,409,560.74
Selling expenses 8,395,799,080.78 7,831,694,562.30
Administrative expenses 2,187,095,074.32 2,125,286,512.82
R&D expenses 2,481,992,023.76 2,067,952,212.64
Financial expenses 137,440,044.17 171,011,723.94
Including: Interest expenses 152,524,547.43 168,902,785.14
Interest income 178,040,888.66 131,357,927.57
Add: other income 273,454,496.79 225,677,913.79
investment income (losses are represented
by “-”) 514,977,547.90 448,142,363.59
Including: Investment income of
associates and joint ventures
Income generated from the
derecognition of financial
assets measured at amortized
cost
15
Haier Smart Home Co., Ltd. 2022 First Quarter Report
Exchange gain (losses are represented by
“-”)
Gains on net exposure hedges (losses are
represented by “-”)
Income from change in fair value (losses
are represented by “-”) 7,355,216.91 33,509,263.35
Loss on credit impairment (losses are
represented by “-”) -70,157,502.39 -59,663,317.58
Loss on assets impairment (losses are
represented by “-”) -278,727,796.15 -250,932,437.96
Gain from disposal of assets (losses are
represented by “-”) 1,201,049.66 -11,607,188.24
Ⅲ. Operating profit (losses are represented by “-”) 4,300,486,276.16 3,649,275,606.12
Add: non-operating income 35,238,560.88 39,370,549.80
Less: non-operating expenses 18,823,997.63 25,331,418.57
Ⅳ. Total profit (total losses are represented by
“-”) 4,316,900,839.41 3,663,314,737.35
Less: income tax expense 750,563,317.01 566,344,450.16
Ⅴ. Net profit (net losses are represented by “-”) 3,566,337,522.40 3,096,970,287.19
(I) Classification by continuous operation
1.Net profit from continuous operation (net
losses are represented by “-”) 3,566,337,522.40 3,096,970,287.19
2. Net profit from discontinued operation
(net losses are represented by “-”)
(II) Classification by ownership of the equity
1. Net profit attributable to shareholders of
the Parent Company (net losses are
represented by “-”) 3,517,044,899.45 3,055,155,689.55
2. Profit or loss attributable to minority
shareholders (net losses are represented
by “-”) 49,292,622.95 41,814,597.64
VI. Other comprehensive income, net of tax -475,680,420.93 156,278,497.23
(I) Other comprehensive income attributable to
owners of the Parent Company, net of tax -475,390,103.62 156,003,524.98
1. Other comprehensive income that cannot be
reclassified into the profit or loss 5,181,077.01 2,958,991.70
(1) Changes arising from re-measurement of
defined benefit plans 1,384,989.40 459,638.27
(2) Other comprehensive income that cannot be
transferred into profit or loss under equity
method
(3) Changes in fair value of investments in
other equity instruments 3,796,087.61 2,499,353.43
(4) Changes in fair value of credit risks of the
enterprise
16
Haier Smart Home Co., Ltd. 2022 First Quarter Report
2. Other comprehensive income to be
reclassified into the profit or loss -480,571,180.63 153,044,533.28
(1) Other comprehensive income that can be
transferred into profit or loss under equity
method -45,340,301.17 30,987,761.94
(2) Changes in fair value of other debt
investments
(3) Reclassified financial assets that are
credited to other comprehensive income
(4) Credit impairment provision for other debt
investments
(5) Reserve for cash flow hedging 11,830,091.92 30,531,599.43
(6) Exchange differences on translation of
financial statements denominated in
foreign currencies -447,060,971.38 91,525,171.91
(7) Others
(II) Other comprehensive income attributable to
minority shareholders, net of tax -290,317.31 274,972.25
Ⅶ. Total comprehensive income 3,090,657,101.47 3,253,248,784.42
(I) Total comprehensive income attributable to
the owners of Parent Company 3,041,654,795.83 3,211,159,214.53
(II) Total comprehensive income attributable to
the minority shareholders 49,002,305.64 42,089,569.89
Ⅷ. Earnings per share:
(I) Basic earnings per share (RMB/share) 0.38 0.33
(II) Diluted earnings per share (RMB/share) 0.38 0.33
Person in charge of the Company: Liang Haishan Person in charge of accounting function: Gong
Wei Person in charge of accounting department: Ying Ke
Consolidated Cash Flow Statement
January-March 2022
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Review: Unaudited
First quarter of First quarter of
Items
2022 2021
I. Cash flow from operating activities:
Cash received from the sale of goods and rendering
services 60,025,158,217.48 58,803,307,488.41
Net increase in customer and inter-bank 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
17
Haier Smart Home Co., Ltd. 2022 First Quarter Report
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 placement from banks and other
financial institutions
Net increase in cash received from repurchase
operation
Net cash received from customer deposits for
trading in securities
Refunds of taxes 849,953,359.92 638,124,801.32
Cash received from other related operating
activities 519,443,803.72 337,121,210.49
Sub-total of cash inflows from operating activities 61,394,555,381.12 59,778,553,500.22
Cash paid on purchase of goods and services 43,400,069,463.53 41,259,822,935.88
Net increase in loans and advances of customers
Net increase in deposits in the PBOC and inter-
bank
18
Haier Smart Home Co., Ltd. 2022 First Quarter Report
Cash paid for compensation payments under
original insurance contract
Net increase in cash lent
Cash paid for interest, bank charges and
commissions
Cash paid for insurance policy dividend
Cash paid to and on behalf of employees 7,402,379,953.60 6,915,432,049.97
Cash paid for all types of taxes 2,382,990,451.73 1,868,545,728.60
Cash paid to other operation related activities 7,054,319,157.86 6,866,447,225.56
Sub-total of cash outflows from operating activities 60,239,759,026.72 56,910,247,940.01
Net cash flow from operating activities 1,154,796,354.40 2,868,305,560.21
II. Cash flow from investing activities:
Cash received from recovery of investments 2,220,934,479.69 1,847,586,006.66
Cash received from return on investments 276,944,289.60 187,838,963.62
Net cash received from the disposal of fixed assets,
intangible assets and other long-term assets 38,803,953.58 8,375,816.24
Net cash received from disposal of subsidiaries and
other operating entities
Other cash received from investment activities 831,333.24
Sub-total of cash inflows from investing activities 2,537,514,056.11 2,043,800,786.52
Cash paid on purchase of fixed assets, intangible
assets and other long-term assets 1,738,003,478.18 1,705,433,208.58
Cash paid for investments 3,272,731,117.77 956,438,067.51
Net increase in secured loans
Net cash paid on acquisition of subsidiaries and
other operating entities
Other cash paid on investment activities 1,166,771.75 3,108,890.00
Sub-total of cash outflows from investing activities 5,011,901,367.70 2,664,980,166.09
Net cash flow from investing activities -2,474,387,311.59 -621,179,379.57
III. Cash flow from financing activities:
Cash received from capital contributions 984,641,004.94 8,600,000.00
Including: Cash received from capital contributions
by minority shareholders of subsidiaries
Cash received from borrowings 3,238,140,935.86 3,638,242,020.00
Other cash received from financing activities 1,657,684.48 5,247,822.60
Sub-total of cash inflows from financing activities 4,224,439,625.28 3,652,089,842.60
Cash paid on repayment of loans 2,246,724,396.38 7,468,738,195.77
Cash paid on distribution of dividends, profits or
repayment of interest expenses 112,963,091.19 161,883,851.31
Including: Dividend and profit paid to minority
shareholders by subsidiaries
19
Haier Smart Home Co., Ltd. 2022 First Quarter Report
Other cash paid to financing activities 162,675,833.14 372,909,996.24
Sub-total of cash outflows from financing activities 2,522,363,320.71 8,003,532,043.32
Net cash flow from financing activities 1,702,076,304.57 -4,351,442,200.72
IV. Effect of fluctuations in exchange rates on
cash and cash equivalents 45,004,359.83 -10,016,712.63
V. Net increase in cash and cash equivalents 427,489,707.21 -2,114,332,732.71
Add: balance of cash and cash equivalents at
the beginning of the period 44,957,500,783.10 45,641,535,671.08
VI. Balance of cash and cash equivalents at the
end of the period 45,384,990,490.31 43,527,202,938.37
Person in charge of the Company: Liang Haishan Person in charge of accounting function: Gong
Wei Person in charge of accounting department: Ying Ke
BALANCE SHEET OF THE PARENT COMPANY
31 March 2022
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Review: Unaudited
Items 31 March 2022 31 March 2021
Current Assets:
Monetary capital 2,826,514,373.01 4,043,535,735.48
Trading financial assets
Derivative financial assets
Bills receivable
Accounts receivable 558,463,157.83 546,532,442.90
Financing receivables
Prepayments 4,228,627.14 275,052,864.92
Other receivables 16,801,590,730.29 16,245,280,168.41
Including: interests receivable
dividends receivable
Inventories 12,508,637.50 1,139,135.32
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 1,147,727,732.09 337,476,209.01
Total current assets 21,351,033,257.86 21,449,016,556.04
Non-current assets:
Debt investments
Other debt investments
Long-term receivables
Long-term equity investments 52,694,446,757.22 52,513,760,277.77
Other equity instruments investments 1,615,450,032.92 1,615,450,032.92
20
Haier Smart Home Co., Ltd. 2022 First Quarter Report
Other non-current financial assets
Investment properties
Fixed assets 175,277,455.45 179,789,817.34
Construction in progress 18,780,396.12 17,569,516.17
Biological assets for production
Oil and gas assets
Right-of-use assets 1,002,388.87 1,217,186.49
Intangible assets 53,438,492.25 55,171,485.39
Development expenses
Goodwill
Long-term prepaid expenses 3,332,642.15 3,781,398.54
Deferred income tax assets 159,338,211.77 159,338,211.77
Other non-current assets 803,394,255.27 803,323,404.28
Total non-current assets 55,524,460,632.02 55,349,401,330.67
Total assets 76,875,493,889.88 76,798,417,886.71
Current liabilities:
Short-term borrowings
Trading financial liabilities
Derivative financial liabilities
Bills payable
Accounts payable 216,562,579.05 183,690,889.86
Receipts in advance
Contract liabilities 12,605,139.93 12,605,139.93
Staff remuneration payable 9,529,366.49 12,323,670.21
Taxes payable 1,503,247.71 1,747,023.87
Other payables 33,418,710,331.55 34,484,355,762.60
Including: interests payable
dividends payable
Liabilities held for sale
Non-current liabilities due within one year 946,826.99 877,995.65
Other current liabilities 6,499,592.92 5,420,156.55
Total current liabilities 33,666,357,084.64 34,701,020,638.67
Non-current liabilities:
Long-term borrowings
Debentures payable
Including: preference shares
perpetual bonds
Leasing liabilities
Long-term payable
Long-term staff remuneration payable
21
Haier Smart Home Co., Ltd. 2022 First Quarter Report
Estimated liabilities
Deferred income 11,730,000.00 19,270,000.00
Deferred income tax liabilities 448,965,654.25 448,965,654.25
Other non-current liabilities
Total non-current liabilities 460,695,654.25 468,235,654.25
Total liabilities 34,127,052,738.89 35,169,256,292.92
Owners’ equity (or shareholders’ equity):
Paid-in capital (or share capital) 9,446,522,864.00 9,398,704,530.00
Other equity instruments
Including: preference shares
perpetual bonds
Capital reserve 26,954,674,980.64 25,802,279,483.13
Less: treasury stock 1,495,170,675.08 1,495,170,675.08
Other comprehensive income 618,821,638.58 621,302,944.83
Special reserve
Surplus reserve 2,833,469,684.39 2,833,469,684.39
Undistributed profits 4,390,122,658.46 4,468,575,626.52
Total owners’ equity (or shareholders’ equity) 42,748,441,150.99 41,629,161,593.79
Total liabilities and owners’ equity (or
shareholders’ equity) 76,875,493,889.88 76,798,417,886.71
Person in charge of the Company: Liang Haishan Person in charge of accounting function: Gong
Wei Person in charge of accounting department: Ying Ke
INCOME STATEMENT OF THE PARENT COMPANY
January-March 2022
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Review: Unaudited
First quarter of First quarter of
Items
2022 2021
I. Operating revenue 46,352,876.13 167,742,299.57
Less: Operation cost 39,046,583.44 132,242,644.21
Taxes and surcharges 16,000.30 977,921.20
Selling expenses 1,650,889.52 5,850,894.41
Administrative expenses 168,001,040.17 2,114,526.97
R&D expenses 5,929,371.96 18,340,350.35
Financial expenses -17,851,602.97 -15,915,571.58
Including: interest expenses 68,831.34 7,271,746.57
Interest income 22,868,491.32 27,133,050.09
Add: Other incomes 11,848,865.58 32,375,407.90
Investment income (losses are represented by “-”) 60,057,927.78 27,853,570.44
22
Haier Smart Home Co., Ltd. 2022 First Quarter Report
Including: investment income of associates and joint
ventures
Derecognition income on financial assets measured at
amortized cost
Gains on net exposure hedges (losses are represented
by “-”)
Income from change in fair value (losses are
represented by “-”)
Loss on credit impairment (losses are represented by
“-”) -18.91
Loss on assets impairment (losses are represented by
“-”)
Gain from disposal of assets (losses are represented by
“-”)
II. Operating profit (losses are represented by “-”) -78,532,631.84 84,360,512.35
Add: non-operating income 79,663.78 150.00
Less: non-operating expenses
III. Total profit (total losses are represented by “-”) -78,452,968.06 84,360,662.35
Less: income tax expense 14,126,772.98
IV. Net profit (net losses are represented by “-”) -78,452,968.06 70,233,889.37
(I) Net profit from continuous operation (net losses are
represented by “-”) -78,452,968.06 70,233,889.37
(II) Net profit from discontinuous operation (net losses
are represented by “-”)
V. Other comprehensive income, net of tax -2,481,306.25 6,441,628.15
(I) Other comprehensive income that cannot be
reclassified into the profit or loss
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 other equity
instruments
4. Changes in fair value of credit risks of the enterprise
(II) Other comprehensive income to be reclassified into
the profit or loss -2,481,306.25 6,441,628.15
1. Other comprehensive income that can be transferred
into profit or loss under equity method -2,481,306.25 6,441,628.15
2. Changes in fair value of other debt investments
3. Reclassified financial assets that are credited to other
comprehensive income
4. Credit impairment provision for other debt
investments
5. Reserve for cash flow hedging
23
Haier Smart Home Co., Ltd. 2022 First Quarter Report
6. Exchange differences on translation of financial
statements denominated in foreign currencies
7. Others
VI. Total comprehensive income -80,934,274.31 76,675,517.52
VII. Earnings per share:
(I) Basic earnings per share (RMB/share)
(II) Diluted earnings per share (RMB/share)
Person in charge of the Company: 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 2022
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Review: Unaudited
Items First quarter of First quarter of
2022 2021
I. Cash flows from operating activities:
Cash received from the sale of goods and rendering of
services 296,929,697.10 333,365,205.81
Refunds of taxes received 2,407,797.52 29,531,561.27
Cash received from other related operating activities 26,475,467.77 80,796,807.77
Sub-total of cash inflows from operating activities 325,812,962.39 443,693,574.85
Cash paid on purchase of goods and services 189,195,396.29 11,173,365.49
Cash paid to and on behalf of employees 16,895,340.98 123,924,641.80
Cash paid for all types of taxes 383,525.90 11,536,498.33
Cash paid to other operation related activities 50,064,542.18 101,103,516.27
Sub-total of cash outflows from operating activities 256,538,805.35 247,738,021.89
Net cash flows from operating activities 69,274,157.04 195,955,552.96
II. Cash flows from investing activities:
Cash received from disposal of investments 125,000,000.00 41,250,000.00
Cash received from return on investments 19,188,786.85 19,540,411.32
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 investing activities 144,188,786.85 60,790,411.32
24
Haier Smart Home Co., Ltd. 2022 First Quarter Report
Cash paid on purchase of fixed assets, intangible assets
and other long-term assets 6,136,238.36 9,122,111.78
Cash paid for investments 1,073,545,507.20
Net cash paid on acquisition of subsidiaries and other
operating entities
Cash paid on other investment related activities 11,000,000.00 67,686,144.59
Sub-total of cash outflows from investing activities 1,090,681,745.56 76,808,256.37
Net cash flows from investing activities -946,492,958.71 -16,017,845.05
III. Cash flows from financing activities:
Cash received from capital contributions 940,041,004.94
Cash received from borrowings
Cash received from other financing related activities
Sub-total of cash inflows from financing activities 940,041,004.94
Cash paid on repayment of borrowings 5,520,000,000.00
Cash paid on distribution of dividends, profits or
interest expenses 42,534,246.57
Cash paid on other financing related activities 1,276,378,351.21 413,627,000.68
Sub-total of cash outflows from financing activities 1,276,378,351.21 5,976,161,247.25
Net cash flows from financing activities -336,337,346.27 -5,976,161,247.25
IV. Effect of fluctuations in exchange rates on cash
and cash equivalents -3,465,214.53 -202,136.63
V. Net increase in cash and cash equivalents -1,217,021,362.47 -5,796,425,675.97
Add: balance of cash and cash equivalents at the
beginning of the period 4,043,535,735.48 8,286,549,909.64
VI. Balance of cash and cash equivalents at the end
of the period 2,826,514,373.01 2,490,124,233.67
Person in charge of the Company: Liang Haishan Person in charge of accounting function: Gong
Wei Person in charge of accounting department: Ying Ke
The adjustments of the relevant items of the financial statements at the beginning of the year
due to the first implementation of new accounting standards since 2022
□Applicable √Not Applicable
Hereby announced.
By order of the Board
Haier Smart Home Co., Ltd.*
28 April 2022
25
