Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
Stock code: 000333 Stock name: Midea Group Announcement No.: 2022-097
Midea Group Co., Ltd.
Interim Report for the Third Quarter 2022
Midea Group Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the
Company’s Board of Directors have warranted that the information given in this Report is true, accurate
and complete, as well as free of any false record, misleading statement or material omission.
Important Reminders:
1. The Board of Directors, the Supervisory Committee as well as all the directors, supervisors and
senior management staff of the Company have warranted that this Report contains no false record,
misleading statement or material omission. And they shall be jointly and severally liable for the
truthfulness, accuracy and completeness of the information given in this Report.
2. The legal representative, principal in charge of accounting and head of the accounting department
of the Company have represented and warranted that the financial information in this Report is true,
accurate and complete.
3. Is this Report audited by a CPA firm?
□Yes √No
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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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
1. Key financial information
1.1 Major accounting data and financial indicators
Does the Company adjust retrospectively or restate accounting data of previous years?
□Yes √No
July-September January-
YoY Change (%) YoY Change (%)
2022 September 2022
Operating revenue (RMB'000) 87,705,744 0.20% 270,366,753 3.45%
Net profit attributable to
shareholders of the Company 8,474,425 0.33% 24,469,921 4.33%
(RMB'000)
Net profit attributable to
shareholders of the Company
8,374,107 5.63% 24,065,619 6.65%
before non-recurring gains and
losses (RMB'000)
Net cash flows from operating
—— —— 29,472,352 5.65%
activities (RMB'000)
Basic earnings per share
1.25 0.81% 3.59 5.28%
(RMB/share)
Diluted earnings per share
1.24 0.81% 3.58 5.60%
(RMB/share)
Weighted average ROE (%) 6.46% -0.84% 18.36% -1.15%
30 September 2022 31 December 2021 Change (%)
Total assets (RMB'000) 417,453,076 387,946,104 7.61%
Net assets attributable to
shareholders of the Company 139,231,869 124,868,124 11.50%
(RMB'000)
Notes: Profit from operation was RMB9.98 billion during the three months ended 30 September 2022,
representing a year-on-year increase of 14.3%, and that for the nine months ended 30 September
2022 was RMB28.84 billion, representing an increase of 10.9% from a year ago. Profit from operation
is operating profit less investment income and gains/losses on changes in fair value.
The Company’s five business segments, namely the Smart Home Business Group, the Industrial
Technology Business Group, the Building Technologies Division, the Robotics & Automation Division,
and the Digital Innovation Business recorded revenue of RMB186.2 billion (up 1.70% year-on-year),
RMB17 billion (up 14.84% year-on-year), RMB17.9 billion (up 22.65% year-on-year), RMB19.5 billion
(up 5.72% year-on-year), and RMB8.1 billion (up 37.30% year-on-year) respectively during January-
September 2022.
1.2 Non-recurring gains and losses
√Applicable □N/A
Unit: RMB’000
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
January-September
Item July-September 2022 Note
2022
Gain or loss from disposal of non-current assets -20,859 1,297
Except for effectively hedging business related to
normal business operations of the Company, gain or
loss arising from the change in the fair value of
financial assets held for trading, derivative financial
assets, financial liabilities held for trading, derivative -241,045 -675,386
financial liabilities, and other non-current financial
assets, as well as investment income or loss
produced from the disposal of the aforesaid financial
assets and liabilities
Other non-operating income and expenses except
316,391 1,088,768
above-mentioned items
Less: Corporate income tax -56,616 -26,521
Minority interests (after tax) 10,785 36,898
Total 100,318 404,302 --
Particulars about other items that meet the definition of non-recurring gain/loss:
□Applicable √N/A
No such cases for the Reporting Period.
Explain the reasons if the Company classifies an item as a recurring gain/loss item, which is
enumerated as a non-recurring gain/loss in the :
□Applicable √N/A
No such cases for the Reporting Period.
1.3 Major changes of main items in financial statements and financial indicators, as well as the
reasons for the changes
√Applicable □N/A
Unit: RMB’000
30 September 31 December
Financial statement items 2022/January- 2021/January- Change
Reasons for the changes
(consolidated) September September (%)
2022 2021
Financial assets held for Mainly due to the decreased
3,521,607 5,879,202 -40.10%
trading structured deposits
Mainly due to the changes in the
Derivative financial assets 734,757 545,865 34.60% fair value of derivative financial
instruments
Mainly due to the changes in the
Loans and advances 14,075,276 21,508,527 -34.56%
operations of the finance business
Mainly due to the decreased
Other receivables 2,135,800 3,104,065 -31.19% receivables and advances for
others
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
Mainly due to the acquisition of
Current portion of non-
40,335,141 19,851,577 103.18% fixed-income products with a
current assets
maturity of over one year
Mainly due to the acquisition of
Other current assets 51,672,375 33,156,012 55.85% fixed-income products with a
maturity of over one year
Mainly due to the increased large-
Other debt investments 10,703,172 7,893,935 35.59% denomination negotiable
certificates of deposit
Mainly due to the increased
Construction in progress 3,988,108 2,690,930 48.21%
construction in progress
Mainly due to the increased
Short-term borrowings 8,758,645 5,381,623 62.75%
borrowings
Mainly due to the changes in the
Derivative financial liabilities 369,139 157,602 134.22% fair value of derivative financial
instruments
Current portion of non- Mainly due to the repayment of
1,691,493 28,947,540 -94.16%
current liabilities borrowings
Mainly due to the increased
Long-term borrowings 55,483,504 19,734,020 181.16%
borrowings
Mainly due to the increased
Deferred income 1,742,904 1,228,459 41.88%
government subsidies received
Mainly due to the changes in
Other comprehensive income 573,069 -1,758,948 132.58% differences on translation of foreign
currency financial statements
Mainly due to the changes in the
Interest costs 35,457 76,088 -53.40%
operations of the finance business
Mainly due to the increased
Financial expenses -2,110,455 -3,349,461 36.99%
exchange losses
Mainly due to the decreased
investment income derived in the
Investment income 862,732 1,999,228 -56.85%
period of holding financial assets
held for trading
Mainly due to the increased losses
Losses on disposal of assets -3,640 57,969 -106.28%
on disposal of non-current assets
Mainly due to the decreased
Non-operating expenses 71,626 139,501 -48.66%
donation expenditures
Mainly due to the decreased cash
Net cash flows from investing
-18,705,995 6,680,656 -380.00% received from disposal of
activities
investments
Net cash flows from financing Mainly due to the increased cash
-1,171,191 -27,666,525 95.77%
activities received from borrowings
Net increase in cash and Mainly due to the increased net
9,944,675 6,662,307 49.27%
cash equivalents cash flows from financing activities
2. Shareholder information
2.1 Total number of common shareholders and preference shareholders with resumed voting
rights, as well as shareholdings of the top ten shareholders at the period-end
Unit: share
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
Total number of preference
Total number of common shareholders at shareholders with resumed
436,153 0
the period-end voting rights at the period-
end (if any)
Top 10 shareholders
Sharehol Shares in pledge or
Number of
Nature of ding Number of frozen
Name of shareholder restricted
shareholder percenta shares held
shares held Status Shares
ge (%)
Domestic non-
In
Midea Holding Co., Ltd. state-owned 30.98 2,169,178,713 100,000,000
pledge
corporation
Hong Kong Securities Clearing Foreign
18.22 1,275,263,264 - -
Company Limited corporation
Domestic non-
China Securities Finance Co., Ltd. state-owned 2.83 198,145,134 - -
corporation
Domestic
Fang Hongbo 1.67 116,990,492 87,742,869 - -
individual
Central Huijin Asset Management State-owned
1.26 88,260,460 - -
Ltd. corporation
Domestic
Huang Jian 1.23 86,140,000 - -
individual
Canada Pension Plan Investment
Foreign
Board－ own funds (stock 0.88 61,913,903 - -
corporation
exchange)
Foreign
Li Jianwei 0.66 46,154,545 - -
individual
Domestic
Yuan Liqun 0.57 40,168,097 - -
individual
Domestic In
Huang Xiaoxiang 0.54 37,835,332 23,499,363
individual pledge
Top 10 non-restricted shareholders
Number of non-restricted Type of shares
Name of shareholder shares held at the period-
Type Shares
end
RMB common
Midea Holding Co., Ltd. 2,169,178,713 2,169,178,713
stock
RMB common
Hong Kong Securities Clearing Company Limited 1,275,263,264 1,275,263,264
stock
RMB common
China Securities Finance Co., Ltd. 198,145,134 198,145,134
stock
RMB common
Central Huijin Asset Management Ltd. 88,260,460 88,260,460
stock
RMB common
Huang Jian 86,140,000 86,140,000
stock
Canada Pension Plan Investment Board－ own funds RMB common
61,913,903 61,913,903
(stock exchange) stock
RMB common
Li Jianwei 46,154,545 46,154,545
stock
RMB common
Yuan Liqun 40,168,097 40,168,097
stock
RMB common
Huang Xiaoxiang 37,835,332 37,835,332
stock
RMB common
Temasek Fullerton Alpha Pte Ltd 37,417,918 37,417,918
stock
Explanation of related relationship or/and acting-in- N/A
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
concert parties among the above-mentioned
shareholders
The Company’s shareholder Yuan Liqun holds 560,000 shares
in the Company through her common securities account and
39,608,097 shares in the Company through her account of
collateral securities for margin trading, representing a total
Explanation on the top 10 common shareholders holding of 40,168,097 shares in the Company.
participating in securities margin trading The Company’s shareholder Huang Xiaoxiang holds 29,435,332
shares in the Company through his common securities account
and 8,400,000 shares in the Company through his account of
collateral securities for margin trading, representing a total
holding of 37,835,332 shares in the Company.
Note: 144,248,028 shares (or 2.06% of the Company’s total share capital) were held in the special account for
repurchased shares of Midea Group Co., Ltd. at the end of the Reporting Period.
2.2 Total number of preference shareholders and shareholdings of the top 10 preference
shareholders at the period-end
□Applicable √N/A
3. Other significant events
□Applicable √N/A
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
4. Financial statements
4.1 Financial statements
Consolidated and Company Balance Sheets
Prepared by Midea Group Co. Ltd. As at 30 September 2022 Unit: RMB’000
30 September 2022 31 December 2021 30 September 2022 31 December 2021
ASSETS
Consolidated Consolidated Company Company
Current assets:
Cash at bank and on hand 63,154,762 71,875,556 35,103,863 48,153,997
Financial assets held for trading 3,521,607 5,879,202 267,712 3,442,317
Derivative financial assets 734,757 545,865 413,449 157,501
Notes receivable 6,055,187 4,784,914 - -
Accounts receivable 31,431,007 24,636,440 - -
Receivables financing 12,916,309 10,273,552 - -
Advances to suppliers 4,168,971 4,352,807 43,416 106,838
Contract assets 4,244,361 3,823,476 - -
Loans and advances 12,965,148 20,656,600 - -
Other receivables 2,135,800 3,104,065 24,924,954 31,447,849
Inventories 36,554,195 45,924,439 - -
Current portion of non-current assets 40,335,141 19,851,577 37,153,183 19,095,262
Other current assets 51,672,375 33,156,012 35,310,757 11,713,182
Total current assets 269,889,620 248,864,505 133,217,334 114,116,946
Non-current assets:
Other debt investments 10,703,172 7,893,935 5,892,185 6,034,563
Long-term receivables 829,750 871,356 - -
Loans and advances 1,110,128 851,927 - -
Long-term equity investments 4,002,775 3,796,705 72,385,336 66,805,691
Investments in other equity instruments 43,377 45,747 - -
Other non-current financial assets 6,977,348 5,912,873 291,884 537,214
Investment properties 815,637 859,195 397,383 428,460
Fixed assets 24,084,306 22,852,848 595,856 661,692
Construction in progress 3,988,108 2,690,930 1,066,366 800,243
Right-of-use assets 2,214,885 2,297,354 9,547 2,585
Intangible assets 16,584,060 17,173,072 657,279 669,158
Goodwill 27,075,391 27,874,752 - -
Long-term prepaid expenses 1,464,886 1,394,240 88,818 79,799
Deferred tax assets 9,614,936 8,192,309 241,765 289,964
Other non-current assets 38,054,697 36,374,356 35,774,548 33,023,304
Total non-current assets 147,563,456 139,081,599 117,400,967 109,332,673
TOTAL ASSETS 417,453,076 387,946,104 250,618,301 223,449,619
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
Consolidated and Company Balance Sheets (Cont’d)
Prepared by Midea Group Co. Ltd. As at 30 September 2022 Unit: RMB’000
LIABILITIES AND 30 September 2022 31 December 2021 30 September 2022 31 December 2021
SHAREHOLDERS’ EQUITY Consolidated Consolidated Company Company
Current liabilities:
Short-term borrowings 8,758,645 5,381,623 - -
Loans with the Central Bank - 178,878 - -
Customer deposits and
deposits from banks and 87,260 78,180 - -
other financial institutions
Financial liabilities held for
1,618,289 - - -
trading
Derivative financial liabilities 369,139 157,602 - -
Notes payable 28,290,679 32,752,007 - -
Accounts payable 61,617,766 65,983,559 - -
Contract liabilities 24,166,174 23,916,595 - -
Employee benefits payable 5,954,020 7,535,168 96,585 420,536
Taxes payable 3,951,826 5,404,267 584,018 1,184,813
Other payables 4,458,475 4,288,104 170,786,202 151,450,555
Current portion of non-current
1,691,493 28,947,540 96,523 92,647
liabilities
Other current liabilities 58,858,965 48,227,953 4,068,114 35,932
Total current liabilities 199,822,731 222,851,476 175,631,442 153,184,483
Non-current liabilities:
Long-term borrowings 55,483,504 19,734,020 21,420,000 12,509,900
Bonds payable 3,201,337 - - -
Lease liabilities 1,507,826 1,533,552 4,089 -
Provisions 316,906 310,571 - -
Deferred income 1,742,904 1,228,459 154,015 154,015
Long-term employee benefits
1,402,168 1,825,016 - -
payable
Deferred tax liabilities 4,424,577 4,950,245 13,793 17,028
Other non-current liabilities 687,709 687,689 - -
Total non-current liabilities 68,766,931 30,269,552 21,591,897 12,680,943
Total liabilities 268,589,662 253,121,028 197,223,339 165,865,426
Shareholders’ equity:
Share capital 7,000,783 6,986,564 7,000,783 6,986,564
Capital surplus 20,915,271 20,516,930 28,406,867 27,105,153
Less: Treasury stock (15,225,644) (14,044,550) (15,225,644) (14,044,550)
Other comprehensive income 573,069 (1,758,948) (2,457) (7,295)
General risk reserve 655,391 719,922 - -
Special reserve 17,108 15,542 - -
Surplus reserve 9,449,901 9,449,901 9,449,901 9,449,901
Undistributed profits 115,845,990 102,982,763 23,765,512 28,094,420
Total equity attributable to
shareholders of the 139,231,869 124,868,124 53,394,962 57,584,193
Company
Minority interests 9,631,545 9,956,952 - -
Total shareholders’ equity 148,863,414 134,825,076 53,394,962 57,584,193
TOTAL LIABILITIES AND
417,453,076 387,946,104 250,618,301 223,449,619
SHAREHOLDERS’ EQUITY
Legal representative: Principal in charge of accounting: Head of accounting department:
Fang Hongbo Zhong Zheng Chen Lihong
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
Consolidated and Company Income Statements
Prepared by Midea Group Co. Ltd. For the nine months ended 30 September 2022 Unit: RMB’000
For the nine For the nine For the nine For the nine
months ended 30 months ended 30 months ended 30 months ended 30
Item September 2022 September 2021 September 2022 September 2021
Consolidated Consolidated Company Company
Total revenue 271,775,057 262,942,589 1,128,972 1,381,918
Including: Operating revenue 270,366,753 261,341,969 1,128,972 1,381,918
Interest income 1,407,722 1,600,306 - -
Fee and commission income 582 314 - -
Total operating cost (243,771,100) (237,666,842) 618,929 865,983
Including: Cost of sales (206,530,717) (202,595,165) (31,123) (26,639)
Interest costs (35,457) (76,088) - -
Fee and commission expenses (1,721) (5,209) - -
Taxes and surcharges (1,155,550) (1,172,144) (11,208) (31,835)
Selling and distribution expenses (21,196,708) (20,948,273) - -
General and administrative expenses (8,044,890) (7,454,498) (922,674) (701,472)
Research and development expenses (8,916,512) (8,764,926) - -
Financial income 2,110,455 3,349,461 1,583,934 1,625,929
Including: Interest expenses (1,269,255) (989,334) (1,952,684) (1,671,992)
Interest income 4,256,895 3,842,498 3,545,017 3,318,208
Add: Other income 1,274,084 1,043,294 19,594 102,686
Investment income 862,732 1,999,228 5,999,505 8,764,498
Including: Investment income from associates
478,015 410,522 207,222 195,952
and joint ventures
Gains/(Losses) on changes in fair value (1,042,032) (924,798) (161,751) (239,518)
Asset impairment losses (195,425) (171,668) - -
Credit impairment losses (236,992) (204,276) 1,477 (492)
Losses on disposal of assets (3,640) 57,969 (281) (891)
Operating profit 28,662,684 27,075,496 7,606,445 10,874,184
Add: Non-operating income 292,601 406,215 33,677 31,299
Less: Non-operating expenses (71,626) (139,501) (10,286) (48,782)
Total profit 28,883,659 27,342,210 7,629,836 10,856,701
Less: Income tax expenses (4,189,933) (3,649,382) (287,458) (88,176)
Net profit 24,693,726 23,692,828 7,342,378 10,768,525
(1) Classified by continuity of operations
Net profit from continuing operations 24,693,726 23,692,828 7,342,378 10,768,525
Net profit from discontinued operations - - - -
(2) Classified by ownership of the equity
Attributable to shareholders of the Company 24,469,921 23,455,250 7,342,378 10,768,525
Minority interests 223,805 237,578 - -
Other comprehensive income, net of tax 2,314,988 (180,401) 4,838 18,926
Other comprehensive income attributable to equity
2,332,017 (139,373) 4,838 18,926
owners of the Company, net of tax
(1) Other comprehensive income items which will not be
236,579 131,437 - -
reclassified subsequently to profit or loss
1) Changes arising from remeasurement of
233,662 129,967 - -
defined benefit plan
2) Changes in fair value of investments in other
2,917 1,470 - -
equity instruments
(2) Other comprehensive income items which will be
2,095,438 (270,810) 4,838 18,926
reclassified subsequently to profit or loss
1) Other comprehensive income that will be
26,369 15,944 4,838 18,926
transferred subsequently to profit or loss
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
under the equity method
2) Cash flow hedging reserve 381,971 (199,762) - -
3) Differences on translation of foreign currency
1,687,098 (86,992) - -
financial statements
Other comprehensive income attributable to minority
(17,029) (41,028) - -
shareholders, net of tax
Total comprehensive income 27,008,714 23,512,427 7,347,216 10,787,451
Attributable to equity owners of the Company 26,801,938 23,315,877 7,347,216 10,787,451
Attributable to minority interests 206,776 196,550 - -
Earnings per share:
(1) Basic earnings per share (RMB Yuan) 3.59 3.41 Not applicable Not applicable
(2) Diluted earnings per share (RMB Yuan) 3.58 3.39 Not applicable Not applicable
Legal representative: Principal in charge of accounting: Head of accounting department:
Fang Hongbo Zhong Zheng Chen Lihong
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
Consolidated and Company Cash Flow Statements
Prepared by Midea Group Co. Ltd. For the nine months ended 30 September 2022 Unit: RMB’000
For the nine months For the nine months For the nine months For the nine months
ended 30 September ended 30 September ended 30 September ended 30 September
Item 2022 2021 2022 2021
Consolidated Consolidated Company Company
1. Cash flows from operating activities
Cash received from sales of goods or rendering
234,341,478 227,937,641 - -
of services
Net increase in customer deposits and deposits
9,080 - - -
from banks and other financial institutions
Net decrease in loans and advances 7,455,670 - - -
Net decrease in deposits with the Central Bank,
123,170 1,347,924 - -
banks and other financial institutions
Net increase in loans with the Central Bank - 19,841 - -
Cash received from interest, fee and commission 1,405,190 1,536,829 - -
Refund of taxes and surcharges 8,612,132 6,789,422 - -
Cash received relating to other operating
6,262,601 4,897,712 29,058,041 51,113,226
activities
Sub-total of cash inflows 258,209,321 242,529,369 29,058,041 51,113,226
Cash paid for goods and services (166,690,317) (149,209,825) - -
Net increase in loans and advances - (3,676,530) - -
Net decrease in customer deposits and deposits
- (60,752) - -
from banks and other financial institutions
Net decrease in borrowings from the Central
(178,878) - - -
Bank
Cash paid for interest, fee and commission (38,342) (82,085) - -
Cash paid to and on behalf of employees (26,297,099) (24,558,796) (328,470) (12,798)
Payments of taxes and surcharges (12,996,276) (11,392,788) (358,516) (437,678)
Cash paid relating to other operating activities (22,536,057) (25,651,849) (897,876) (6,070,874)
Sub-total of cash outflows (228,736,969) (214,632,625) (1,584,862) (6,521,350)
Net cash flows from operating activities 29,472,352 27,896,744 27,473,179 44,591,876
2. Cash flows from investing activities
Cash received from disposal of investments 79,619,731 104,890,385 40,500,000 43,296,962
Cash received from returns on investments 3,712,469 4,360,871 7,107,197 11,345,718
Net cash received from disposal of fixed assets,
124,672 236,010 53 86
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries
14,829 182,133 6,500 -
and other business units
Cash received relating to other investing activities 335,082 10,251 - -
Sub-total of cash inflows 83,806,783 109,679,650 47,613,750 54,642,766
Cash paid to acquire fixed assets, intangible
(4,318,974) (5,875,219) (375,100) (573,214)
assets and other long-term assets
Cash paid to acquire investments (97,817,524) (95,094,863) (62,696,223) (60,960,461)
Net cash paid to acquire subsidiaries and other
(376,280) (2,028,912) - -
business units
Sub-total of cash outflows (102,512,778) (102,998,994) (63,071,323) (61,533,675)
Net cash flows from investing activities (18,705,995) 6,680,656 (15,457,573) (6,890,909)
3. Cash flows from financing activities
Cash received from capital contributions 1,256,885 1,474,377 1,255,885 1,431,805
Including: Cash received from capital
contributions by minority 1,000 42,572 - -
shareholders of subsidiaries
Cash received from borrowings 43,047,859 13,864,476 9,000,000 6,800,000
Cash received from issuance of medium-term
2,841,690 - - -
debentures
Cash received from issuance of short-term
3,999,500 2,999,629 3,999,500 2,999,629
financing bonds
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
Cash received relating to other financing activities 90,498 51,159 - -
Sub-total of cash inflows 51,236,432 18,389,641 14,255,385 11,231,434
Cash repayments of borrowings (34,310,771) (12,723,723) (89,900) (4,799,314)
Cash paid for repayment of short-term financing
- (6,000,000) - (6,000,000)
bonds
Cash payments for interest expenses and
(13,090,540) (12,415,831) (14,154,406) (12,871,936)
distribution of dividends or profits
Including: Cash payments for dividends or profit
to minority shareholders of (158,110) (289,414) - -
subsidiaries
Cash payments relating to other financing
(5,006,312) (14,916,612) (2,581,074) (13,807,786)
activities
Sub-total of cash outflows (52,407,623) (46,056,166) (16,825,380) (37,479,036)
Net cash flows from financing activities (1,171,191) (27,666,525) (2,569,995) (26,247,602)
4. Effect of foreign exchange rate changes on
349,509 (248,568) - -
cash and cash equivalents
5. Net increase in cash and cash equivalents 9,944,675 6,662,307 9,445,611 11,453,365
Add: Cash and cash equivalents at the beginning
40,550,039 23,548,508 21,957,042 16,595,063
of the period
6. Cash and cash equivalents at the end of the
50,494,714 30,210,815 31,402,653 28,048,428
period
Legal representative: Principal in charge of accounting: Head of accounting department:
Fang Hongbo Zhong Zheng Chen Lihong
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Interim Report for the Third Quarter 2022 of Midea Group Co., Ltd.
4.2 Auditor’s report
Is this Report audited by a CPA firm?
□Yes √No
This Report is unaudited by a CPA firm.
The Board of Directors of Midea Group Co., Ltd.
29 October 2022
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