Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
Stock code: 002508 Abbreviation of securities: Robam No.: 2024-007
Hangzhou ROBAM Appliances Co., Ltd.
2024 First Quarter Report
The Company and all members of the Board of Directors guarantee that the information disclosed is authentic, accurate and
complete, and that there is no false record, misleading statement or material omission.
Important:
1. The board of directors, the board of supervisors and the directors, supervisors and senior management of the Company
guarantee that the quarterly report are authentic, accurate and complete, free from false records, misleading statements or
major omissions, and bear individual and joint legal liabilities.
2. The head of the Company, the head of accounting work, and the head of accounting body (accountant in charge), guarantee
the authenticity, accuracy and completeness of the financial information in the quarterly report.
3. Whether the first quarter report has been audited
□ Yes No
1
Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
I. Major Financial Data
(I) Major Accounting Data and Financial Indicators
Whether the Company needs to retroactively adjust or restate the accounting data of the previous years
□ Yes No
Increase/decrease in this
Amount for corresponding
This reporting period reporting period as compared to
period last year
the previous year
Operating income (yuan) 2,237,194,615.74 2,177,271,694.59 2.75%
Net profits attributable to
shareholders of listed 398,415,708.31 388,734,141.35 2.49%
companies (yuan)
Net profits attributable to
shareholders of the listed
company after deduction of 352,836,284.84 341,448,848.17 3.34%
non-recurring profits and losses
(yuan)
Net cash flow from operating
54,887,609.62 181,762,454.94 -69.80%
activities (yuan)
Basic EPS (yuan/share) 0.42 0.41 2.44%
Diluted EPS (yuan/share) 0.42 0.41 2.44%
Weighted average return on net
3.72% 3.92% Decreased by 0.2%
assets
Increase/decrease at the end of
this reporting period as
End of the reporting period End of previous year
compared to the end of the
previous year
Total assets (yuan) 15,689,511,406.14 16,779,531,315.72 -6.50%
Owner's equity attributable to
shareholders of listed 10,925,204,458.54 10,522,938,731.68 3.82%
companies (yuan)
(II) Non-recurring Profit and Loss Items and Amount
Applicable □ Not applicable
Unit: yuan
Item Amounts for the reporting period Description
Profits and losses on the disposal of non-
current assets (including the write-off of -203,869.89
the provision for asset impairment)
Government subsidies included into
current profits and losses (except those
government subsidies that are closely
related to normal business of the Company,
33,962,790.08
comply with national policies and
regulations, enjoyed according to defined
criteria, and have an ongoing impact on the
Company's profit or loss)
Reversal of impairment provision for
receivables subject to separate impairment 21,295,920.58
test
Income and expenditure other than those
-375,595.39
mentioned above
Minus: Amount affected by income tax 8,289,282.35
Amount of minority shareholders'
810,539.56
equity affected (after tax)
Total 45,579,423.47 --
2
Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
Other profit and loss items that meet the definition of non-recurring profit and loss
□ Applicable Not applicable
The Company does not have any other profit and loss items that meet the definition of non-recurring profit and loss.
Description of defining the non-recurring profit and loss items enumerated in the Interpretative Announcement No. 1 on
Information Disclosure of Public Securities Issuing Companies - Non-recurrent Profits and Losses as recurrent profit and loss
items
Applicable □ Not applicable
Item Amount involved (yuan) Cause
VAT exemption or reduction or refund 8,834,981.34 National tax policies, recurring business
Individual income tax service charge
535,037.45 National tax policies, recurring business
refund
(III) Changes in major accounting data and financial indicators and the reasons therefor
Applicable □ Not applicable
1. Balance sheet items
At the end of the reporting period, monetary funds increased by 21.11% as compared to the beginning of the year, which was
mainly due to the maturity of holding bank time deposit plan and classified into other current assets and other non-current assets
according to accounting standards.
At the end of the reporting period, notes receivable decreased by 42.06% as compared to the beginning of the year, which was
mainly due to the redemption of notes at maturity.
At the end of the reporting period, other current assets increased by 29.82% as compared to the beginning of the year, which was
mainly due to the maturity of holding bank time deposit plan and classified into other current assets according to accounting
standards.
At the end of the reporting period, other non-current assets decreased by 43.80% as compared to the beginning of the year, which
was due to the withdrawal of time deposits over one year at maturity.
At the end of the reporting period, contract liabilities decreased by 34.34% as compared to the beginning of the year, which was
mainly due to the decrease in advance from customers.
At the end of the reporting period, the payroll payable decreased by 81.87% as compared to the beginning of the year, which was
mainly due to the completion of 2023 annual bonus payment.
At the end of the reporting period, other payables decreased by 58.11% as compared to the beginning of the year, which was
mainly due to the completion of special dividend for the first quarter of 2024.
2. Cash flow statement items
During the reporting period, the net cash flow from operating activities decreased by 69.80% as compared to the same period of
last year, which was mainly due to the increase in purchase of goods and payment of salaries.
During the reporting period, the net cash flow from investment activities decreased by 98.32% as compared to the same period of
last year, which was mainly due to the adjustments made in accordance with accounting policies.
During the reporting period, the net cash flow from financing activities decreased by 2414.85% as compared to the same period of
last year, which was mainly due to the payment of special dividend.
II. Shareholder Information
(I) Total number of common shareholders and preferred shareholders with voting rights
restored, and shareholdings of the top ten shareholders
Unit: share
Total number of preferred shareholders with voting
Total number of common shareholders at
51,077 rights restored at the end of the reporting period (if 0
the end of the reporting period (person)
any)
Shareholdings of top 10 shareholders (excluding shares lent through refinancing)
Shareholding Number of shares Number of Pledge, mark or freeze
Shareholder's name Shareholder nature
ratio (%) held shares held with Status of Quantity
3
Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
limited sales shares
conditions
Hangzhou Robam
Domestic non-state Not
Industrial Group Co., 49.68 471,510,000.00 0.00 0.00
legal person applicable
Ltd.
Hong Kong
Overseas legal Not
Securities Clearing 8.31 78,875,983.00 0.00 0.00
person applicable
Company Ltd.
TEMASEK
Overseas legal Not
FULLERTON 1.79 16,950,061.00 0.00 0.00
person applicable
ALPHA PTE LTD
China Merchants
Bank Co. Ltd.－
BOCOM Schroder Not
Other 1.51 14,310,684.00 0.00 0.00
New Growth Hybrid applicable
Securities Investment
Fund
National Social
Not
Security Fund 413 Other 1.36 12,902,204.00 0.00 0.00
applicable
Portfolio
Domestic natural Not
Shen Guoying 1.29 12,240,000.00 0.00 0.00
person applicable
Hangzhou Jinchuang Domestic non-state Not
0.70 6,640,085.00 0.00 0.00
Investment Co., Ltd. legal person applicable
Hangzhou
Domestic non-state Not
Yinchuang 0.67 6,318,000.00 0.00 0.00
legal person applicable
Investment Co., Ltd.
Domestic natural Not
Ren Jianhua 0.62 5,923,150.00 4,442,362.00 0.00
person applicable
Industrial and
Commercial Bank of
China Limited－
Not
Penghua selects Other 0.61 5,787,141.00 0.00 0.00
applicable
hybrid securities
investment funds
with ingenuity
Shareholding of top 10 shareholders with unlimited sales conditions
Share type
Shareholder's name Number of shares held with unlimited sales conditions
Share type Quantity
RMB
Hangzhou Robam Industrial Group Co.,
471,510,000.00 common 471,510,000.00
Ltd.
share
RMB
Hong Kong Securities Clearing Company
78,875,983.00 common 78,875,983.00
Ltd.
share
RMB
TEMASEK FULLERTON ALPHA PTE
16,950,061.00 common 16,950,061.00
LTD
share
China Merchants Bank Co. Ltd.－ BOCOM RMB
Schroder New Growth Hybrid Securities 14,310,684.00 common 14,310,684.00
Investment Fund share
RMB
National Social Security Fund 413 Portfolio 12,902,204.00 common 12,902,204.00
share
RMB
Shen Guoying 12,240,000.00 common 12,240,000.00
share
RMB
Hangzhou Jinchuang Investment Co., Ltd. 6,640,085.00 common 6,640,085.00
share
4
Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
RMB
Hangzhou Yinchuang Investment Co., Ltd. 6,318,000.00 common 6,318,000.00
share
Industrial and Commercial Bank of China RMB
Limited－Penghua selects hybrid securities 5,787,141.00 common 5,787,141.00
investment funds with ingenuity share
RMB
Agricultural Bank of China Limited -
5,554,000.00 common 5,554,000.00
CSI500 Index Open-ended Fund
share
The actual controller of the Company's controlling shareholder Hangzhou
ROBAM Industrial Group Co., Ltd. and the shareholder Hangzhou Jinchuang
Description of the above-mentioned shareholder
Investment Co., Ltd. is Mr. Ren Jianhua, and the natural person shareholder Shen
association or concerted action
Guoying is the wife of Ren Jianhua. The above shareholders have the possibility of
acting in unison.
Securities margin trading business attended by top 10
N/A
shareholders (if any)
Lending of shares by shareholders holding more than 5% shares, top 10 shareholders or top 10 public shareholders with unlimited
sales conditions in the refinancing business
□ Applicable Not applicable
Change in the lending/return of shares by top 10 shareholders or top 10 public shareholders with unlimited sales conditions in the
refinancing business as compared to the previous period
□ Applicable Not applicable
(II) Total number of preferred shareholders and the top 10 preferred shareholders'
shareholdings of the Company
□ Applicable Not applicable
III. Other Important Matters
□ Applicable Not applicable
IV. Quarterly Financial Statements
(I) Financial statements
1. Consolidated Balance Sheet
Unit: Hangzhou ROBAM Appliances Co., Ltd.
March 31, 2024
Unit: yuan
Item Ending balance Beginning balance
Current assets:
Monetary capital 1,565,945,383.85 1,985,050,745.11
Deposit reservation for balance
Lending funds
Trading financial assets 2,733,502,491.78 2,730,000,000.00
Derivative financial assets
Notes receivable 403,458,627.97 696,284,931.64
Accounts receivable 1,649,351,522.74 1,810,015,596.33
Receivables financing
Advances to suppliers 141,323,188.65 139,713,471.58
Premiums receivables
Reinsurance accounts receivable
Provision of cession receivable
Other receivables 66,015,446.29 53,368,667.34
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Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
Item Ending balance Beginning balance
Including: Interest receivable
Dividends receivable
Redemptory monetary capital for sale
Inventory 1,338,240,649.23 1,524,274,720.24
Including: data resource
Contract assets
Assets held for sales
Non-current assets due within a year
Other current assets 3,437,410,792.24 2,647,808,620.70
Total current assets 11,335,248,102.75 11,586,516,752.94
Non-current assets:
Loans and advances
Debt investment
Other debt investments
Long-term receivables
Long-term equity investment 6,640,336.14 8,427,450.24
Other equity instrument investments 2,116,023.22 2,116,023.22
Other non-current financial assets 480,000,000.00 480,000,000.00
Investment properties 86,019,783.28 91,136,832.31
Fixed assets 1,696,825,798.95 1,720,724,257.46
Construction in progress 373,109,818.67 359,768,699.68
Productive biological assets
Oil and gas assets
Right-of-use assets 12,503,694.30 13,802,458.98
Intangible assets 211,036,248.42 214,553,739.31
Including: data resource
Development expenditure
Including: data resource
Goodwill 12,223,271.67 12,223,271.67
Long-term unamortized expenses 3,827,432.08 5,034,659.37
Deferred income tax assets 389,606,216.81 362,897,841.89
Other non-current assets 1,080,354,679.85 1,922,329,328.65
Total non-current assets 4,354,263,303.39 5,193,014,562.78
Total assets 15,689,511,406.14 16,779,531,315.72
Current liabilities:
Short-term borrowing 88,503,320.70 95,003,320.70
Borrowings from central bank
Borrowing funds
Trading financial liabilities
Derivative financial liabilities
Notes payable 1,124,249,392.19 1,098,720,000.58
Accounts payable 1,997,766,497.46 2,548,743,762.06
Advance from customers
Contract liabilities 669,667,045.24 1,019,942,923.58
Financial assets sold for repurchase
Deposits from customers and interbank
Acting trading securities
Acting underwriting securities
Payroll payable 32,260,104.63 177,923,042.01
Tax payable 171,016,573.20 154,365,676.80
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Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
Item Ending balance Beginning balance
Other payables 316,702,264.04 755,964,919.76
Including: Interest payable
Dividends payable 472,047,458.00
Fees and commissions payable
Dividend payable for reinsurance
Liabilities held for sales
Non-current liabilities due within a year 2,994,011.92 4,522,658.42
Other current liabilities 86,683,093.71 118,041,351.23
Total current liabilities 4,489,842,303.09 5,973,227,655.14
Non-current liabilities:
Reserve fund for insurance contracts
Long-term borrowing
Bonds payable
Including: preferred stock
Perpetual bond
Lease liabilities 10,736,164.72 10,750,792.90
Long-term payable
Long-term payroll payable
Estimated liabilities
Deferred income 131,014,766.19 136,538,254.74
Deferred income tax liabilities 28,529,802.34 28,418,565.01
Other non-current liabilities
Total non-current liabilities 170,280,733.25 175,707,612.65
Total liabilities 4,660,123,036.34 6,148,935,267.79
Owner's equity:
Share capital 949,024,050.00 949,024,050.00
Other equity instruments
Including: preferred stock
Perpetual bond
Capital reserve 415,670,291.73 411,778,214.22
Minus: treasury stock 199,995,742.59 199,995,742.59
Other comprehensive income -100,199,693.12 -100,157,634.16
Special reserve
Surplus reserves 474,516,412.50 474,516,412.50
General risk preparation
Undistributed profit 9,386,189,140.02 8,987,773,431.71
Total owners' equities attributable to the
10,925,204,458.54 10,522,938,731.68
owners of parent company
Minority equity 104,183,911.26 107,657,316.25
Total owners' equities 11,029,388,369.80 10,630,596,047.93
Total liabilities and owners' equities 15,689,511,406.14 16,779,531,315.72
Legal representative: Ren Jianhua Head of accounting work: Zhang Guofu Head of accounting body: Zhang Guofu
2. Consolidated Statement of Income
Unit: yuan
Item Amount incurred in current period Amount incurred in previous period
I. Total operating income 2,237,194,615.74 2,177,271,694.59
Including: Operating income 2,237,194,615.74 2,177,271,694.59
Interest revenue
Premium earned
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Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
Item Amount incurred in current period Amount incurred in previous period
Fee and commission income
II. Total operating costs 1,829,923,364.67 1,792,745,740.21
Including: Operating costs 1,104,112,964.04 984,337,364.16
Interest expenditure
Fee and commission expense
Surrender value
Net payments for insurance
claims
Net reserve fund extracted for
insurance liability
Bond insurance expense
Reinsurance costs
Taxes and surcharges 14,169,604.86 10,857,671.80
Selling expenses 597,805,803.84 672,397,550.12
Management costs 95,931,909.79 90,902,716.15
Research and development
69,436,172.91 68,509,891.30
expenses
Financial expenses -51,533,090.77 -34,259,453.32
Including: interest expenditure 457,165.23 897,315.09
Interest revenue 52,268,972.59 34,936,516.43
Plus: other incomes 43,332,808.87 46,812,180.81
Income from investment (loss expressed
-1,775,329.39 9,323,093.36
with "-")
Including: Income from investment of
-1,787,114.10 -2,490,700.04
joint venture and cooperative enterprise
Income from derecognition of financial
assets measured at amortized cost
Exchange gain (loss expressed with "-")
Net exposure hedging gain (loss
expressed with "-")
Income from fair value changes (loss
expressed with "-")
Credit impairment losses (loss expressed
17,902,453.99 18,167,476.13
with "-")
Assets impairment losses (loss expressed
-700,571.35
with "-")
Income from disposal of assets (loss
-203,869.89 -176,472.71
expressed with "-")
III. Operating profits (loss expressed with
465,826,743.30 458,652,231.97
"-")
Plus: Non-operating income 1,339,617.02 1,279,572.02
Minus: non-operating expenditure 1,715,212.41 1,181,078.69
IV. Total profits (total loss expressed with
465,451,147.91 458,750,725.30
"-")
Minus: Income tax expenses 70,508,844.59 71,795,909.91
V. Net profits (net loss expressed with "-") 394,942,303.32 386,954,815.39
(I) Classified by business continuity
1. Net profits from going concern (net
394,942,303.32 386,954,815.39
loss expressed with "-")
2. Net profits from discontinuing
operation (net loss expressed with "-")
(II) Classified by ownership
1. Net owners' profits attributable to the
398,415,708.31 388,734,141.35
owners of parent company
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Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
Item Amount incurred in current period Amount incurred in previous period
2. * Minority interest income -3,473,404.99 -1,779,325.96
VI. VI. Net amount of other
-42,058.96
comprehensive income after tax
Net amount of other comprehensive
income after tax attributed to parent -42,058.96
company owners
(I) Other comprehensive income that can't
be reclassified into profit and loss
1. Remeasure the variation of net
indebtedness or net asset of defined
benefit plan
2. Other comprehensive income that can't
be reclassified into profit and loss in
the invested enterprise under equity
method
3. Fair value change of other equity
instrument investments
4. Fair value change of enterprise credit
risks
5. Other
(II) Other comprehensive income that will
-42,058.96
be reclassified into profit and loss
1. Other comprehensive income that will
be reclassified into profit and loss in
the invested enterprise under equity
method
2. Fair value change of other debt
investments
3. Amount of financial assets reclassified
into other comprehensive income
4. Provision for credit impairment of
other debt investments
5. Cash flow hedging reserve
6. Balance arising from the translation of
-42,058.96
foreign currency financial statements
7. Other
Net amount of other comprehensive
income after tax attributed to minority
shareholders
VII. Total comprehensive income 394,900,244.36 386,954,815.39
Total comprehensive income attributed
398,373,649.35 388,734,141.35
to parent company owners
Total comprehensive income belonging
-3,473,404.99 -1,779,325.96
to minority shareholders
VIII. Earnings per share:
(I) Basic EPS 0.42 0.41
(II) Diluted EPS 0.42 0.41
In case of business combination involving enterprises under common control in current period, the net profits achieved by the
merged party before combination were RMB 0.00 and achieved by the merged party in previous period were RMB 0.00.
Legal representative: Ren Jianhua Head of accounting work: Zhang Guofu Head of accounting body: Zhang Guofu
3. Consolidated Statement of Cash Flow
Unit: yuan
Item Amount incurred in current period Amount incurred in previous period
I. Cash flow from operating activities:
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Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
Item Amount incurred in current period Amount incurred in previous period
Cash from selling commodities or
2,537,149,798.98 2,493,570,127.22
offering labor
Net increase of customer deposit and
deposit from other banks
Net increase of borrowings from central
bank
Net increase of borrowing funds from
other financial institutions
Cash from obtaining original insurance
contract premium
Cash received from insurance premium
of original insurance contract
Net increase of deposit and investment of
insured
Cash from interest, handling charges and
commissions
Net increase of borrowing funds
Net increase of repurchase of business
funds
Net cash from acting trading securities
Refund of tax and levies 18,976.37 4,092,034.40
Other cash received related to operating
84,400,250.90 101,227,450.57
activities
Subtotal cash inflows from operating
2,621,569,026.25 2,598,889,612.19
activities
Cash paid for selling commodities or
1,436,688,454.79 1,325,932,721.72
offering labor
Net increase of customer loans and
advances
Net increase of amount due from central
bank and interbank
Cash paid for original insurance contract
claims payment
Net increase of lending funds
Cash paid for interest, handling charges
and commissions
Cash paid for policy dividend
Cash paid to and for employees 342,453,569.98 300,052,111.20
Taxes and fees paid 182,420,970.84 179,634,965.49
Other cash paid related to operating
605,118,421.02 611,507,358.84
activities
Subtotal cash outflows from operating
2,566,681,416.63 2,417,127,157.25
activities
Net cash flow from operating activities 54,887,609.62 181,762,454.94
II. Cash flow from investment activities:
Cash from investment withdrawal 2,687,508.22 602,048,171.00
Cash from investment income 12,491.78 11,850,513.00
Net cash from disposal of fixed assets,
intangible assets and other long-term 38,460.00
assets
Net cash received from the disposal of
subsidiaries and other business entities
Other cash received related to investment
1,231,533,434.44
activities
Subtotal cash inflows from investment
1,234,233,434.44 613,937,144.00
activities
10
Hangzhou Robam Appliances Co., Ltd.
2024 First Quarter Report
Item Amount incurred in current period Amount incurred in previous period
Cash paid for the purchase and
construction of fixed assets, intangible 94,003,080.71 74,076,410.38
assets and other long term assets
Cash paid for investment 6,190,000.00 300,000,000.00
Net cash received from reinsurance
business
Net cash paid for obtaining subsidiaries
and other business units
Other cash paid related to investment
1,130,000,000.00
activities
Subtotal cash outflows from investment
1,230,193,080.71 374,076,410.38
activities
Net cash flow from investment activities 4,040,353.73 239,860,733.62
III. Cash flow from financing activities:
Receipts from equity securities
Including: Cash received from subsidies'
absorption of minority shareholders'
investment
Cash received from borrowings 23,000,000.00 15,000,000.00
Other cash received related to financing
500,000.00 6,482,178.88
activities
Subtotal cash inflows from financing
23,500,000.00 21,482,178.88
activities
Cash repayments of amounts borrowed 30,000,000.00
Cash paid for distribution of dividends or
472,705,138.80
profits and for interest expenses
Including: Dividends and profits paid by
subsidiaries to minority shareholders
Other cash paid related to financing
1,775,259.08 704,158.14
activities
Subtotal cash outflows from financing
504,480,397.88 704,158.14
activities
Net cash flow from financing activities -480,980,397.88 20,778,020.74
IV. Impact of exchange rate movements on
-43,763.64 -792,708.11
cash and cash equivalents
V. Net increase of cash and cash
-422,096,198.17 441,608,501.19
equivalents
Plus: Balance of cash and cash
1,878,166,358.09 5,196,414,341.74
equivalents at the beginning of the period
VI. Balance of cash and cash equivalents at
1,456,070,159.92 5,638,022,842.93
the beginning of the period
(II) Adjustment of relevant items in financial statements at the beginning of first
implementation year as a result of first implementation of new accounting standards from
2024
□ Applicable Not applicable
(III) Audit report
Whether the first quarter report is audited
□ Yes No
The Company's first quarter report is unaudited.
Board of Directors of Hangzhou ROBAM Appliances Co., Ltd.
April 25, 2024
11
