Full Text of Q3 2020 Report of Hangzhou Robam Appliances Co., Ltd.
Hangzhou Robam Appliances Co., Ltd.
Q3 2020 Report
October 2020
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Full Text of Q3 2020 Report of Hangzhou Robam Appliances Co., Ltd.
Chapter 1 Important Notes
The Board of Directors, the Board of Supervisors, as well as the directors, supervisors
and senior management of Hangzhou Robam Appliances Co., Ltd. (the Company) hereby
guarantee that there are no false representations, misleading statements, or material
omissions in this Quarterly Report (“the Report”), and are severally and jointly liable for the
authenticity, accuracy and completeness of the information contained herein.
All the directors attended a Board meeting during which they reviewed the Report.
Ren Jianhua, the head of the Company, Zhang Guofu, the person in charge of the
Company’s accounting, and Zhang Guofu, the head of the accounting department (the
accountant in charge) hereby declare and warrant that the financial report contained in the
Report is authentic, accurate, and complete.
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Full Text of Q3 2020 Report of Hangzhou Robam Appliances Co., Ltd.
Chapter 2 Company Profile
I. Key Accounting Data and Financial Indicators
Whether the Company needs to retroactively adjust or restate the accounting data of previous years?
□ Yes √ No
End of the reporting period End of last year Change
Total assets (RMB) 11,812,914,362.18 10,651,922,572.87 10.90%
Net assets attributable to the
shareholders of the listed company 7,512,715,959.96 6,864,388,881.46 9.44%
(RMB)
From the beginning of
The reporting
YoY change the year to the end of YoY change
period
the reporting period
Operating income (RMB) 2,415,077,732.21 15.13% 5,626,250,068.00 0.02%
Net profit attributable to shareholders
510,521,854.21 22.95% 1,122,839,103.50 3.43%
of the listed company (RMB)
Net profit attributable to shareholders
of the listed company after deducting 505,555,890.56 23.07% 1,056,876,322.61 2.28%
non-recurring gains/losses (RMB)
Net cash flow from operating activities
533,264,051.72 41.63% 940,951,185.28 -9.11%
(RMB)
Basic earnings per share (EPS)
0.54 22.73% 1.18 3.51%
(RMB/share)
Diluted EPS (RMB/share) 0.54 22.73% 1.18 3.51%
Weighted average return on net assets 7.03% 0.17% 15.56% -1.81%
Items and Amounts of Non-recurring Gains and Losses
√ Applicable □ Not Applicable
In RMB
Amount from the beginning of
Item the year to the end of the Description
reporting period
Gains and losses on disposal of non-current assets (including the
45,574.92
part written-off with provision for asset impairment accrued)
Government subsidy included in current gains and losses (except
the government subsidy closely related to the Company’s business 79,617,676.11
and enjoyed by quota or ration in accordance with the unified
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national standard)
Other non-operating revenues and expenses except the above
-1,096,881.83
items
Less: Affected amount of income tax 12,256,226.64
Affected amount of minority shareholders’ equity (after tax) 347,361.67
Total 65,962,780.89 --
It is necessary to explain the reason why items of the non-recurring gains and losses determined according to definitions in the
Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public — Non-recurring
Gains and Losses (referred to as “Announcement No.1”) and items of the non-recurring gains and losses listed in the Announcement
No. 1 are defined as recurring gains and losses.
□ Applicable √ Not Applicable
During the reporting period, there is no circumstance that the items of non-recurring gains and losses defined and enumerated in
accordance with the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the
Public - Non-recurring Gains and Losses are defined as recurring gains and losses.
II. Total Number of Shareholders and Shareholdings of the Top Ten Shareholders at the End
of the Reporting Period
1. Total number of common shareholders and preferred shareholders with the voting rights recovered and
shareholding of the top 10 shareholders
Unit: share
Total number of preferred
Total number of common
shareholders with the voting
shareholders at the end of the 59,361 0
rights recovered at the end of
reporting period
reporting period (if any)
Shareholding of the top 10 shareholders
Number of Pledged or frozen shares
Name of Nature of Shareholdin Number of shares subject
shareholder shareholder g ratio shares to sales Status Number
restrictions
Hangzhou
Domestic
Robam
non-state-owned 49.68% 471,510,000
Industrial
corporation
Group Co., Ltd.
Hong Kong
Securities
Overseas
Clearing 12.91% 122,501,103
corporation
Company
Limited
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Domestic natural
Shen Guoying 1.29% 12,240,000
person
TEMASEK
FULLERTON Overseas
1.13% 10,733,377
ALPHA PTE corporation
LTD
Hangzhou
Domestic
Jinchuang
non-state-owned 1.00% 9,451,985
Investment Co.,
corporation
Ltd.
Norges
Overseas
Bank-Equity 0.99% 9,440,215
corporation
Fund
Hangzhou
Domestic
Yinchuang
non-state-owned 0.67% 6,318,000
Investment Co.,
corporation
Ltd.
Domestic natural
Ren Jianhua 0.62% 5,923,150 4,442,362
person
Central Huijin
State-owned
Investment 0.60% 5,685,810
corporation
Limited
Aberdeen
Standard
Investments
(Asia) Co., Ltd. Overseas
0.58% 5,521,017
- Aberdeen corporation
Standard -
China A-share
Equity Fund
Shareholdings of the top 10 shareholders not subject to sales restrictions
Number of shares held not subject to sales Type of share
Name of shareholder
restrictions Type of share Number
Hangzhou Robam Industrial Group RMB ordinary
471,510,000 471,510,000
Co., Ltd. shares
Hong Kong Securities Clearing RMB ordinary
122,501,103 122,501,103
Company Limited shares
RMB ordinary
Shen Guoying 12,240,000 12,240,000
shares
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TEMASEK FULLERTON ALPHA RMB ordinary
10,733,377 10,733,377
PTE LTD shares
Hangzhou Jinchuang Investment Co., RMB ordinary
9,451,985 9,451,985
Ltd. shares
RMB ordinary
Norges Bank-Equity Fund 9,440,215 9,440,215
shares
Hangzhou Yinchuang Investment Co., RMB ordinary
6,318,000 6,318,000
Ltd. shares
RMB ordinary
Central Huijin Investment Limited 5,685,810 5,685,810
shares
Aberdeen Standard Investments
RMB ordinary
(Asia) Co., Ltd. - Aberdeen Standard - 5,521,017 5,521,017
shares
China A-share Equity Fund
Canada Pension Plan Investment RMB ordinary
5,256,088 5,256,088
Board-Equity Fund shares
Mr. Ren Jianhua is the controlling shareholder of the Company, shareholder of
Description of the associated
Hangzhou Robam Industrial Group Co., Ltd., and the actual controller of Hangzhou
relationship or consistent actions of
Jinchuang Investment Co., Ltd.; and the natural person shareholder, Shen Guoying, is
the above shareholders
his wife. Therefore, there is a possibility that these shareholders will act in concert.
Description of the top 10 shareholders
engaging in securities margin trading Not Applicable
(if any)
Did any of the top 10 common shareholders and the top 10 common shareholders not subject to sales restrictions of the Company
have any agreed repurchase trading during the reporting period?
□ Yes √ No
There was no agreed repurchase trading between the top 10 common shareholders and the top 10 common shareholders not subject to
sales restrictions of the Company during the reporting period.
2. Total number of the Company’s preferred shareholders and shareholding of the top 10 preferred
shareholders
□ Applicable √ Not Applicable
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Full Text of Q3 2020 Report of Hangzhou Robam Appliances Co., Ltd.
Chapter 3 Significant Matters
I. Changes in Major Financial Data and Financial Indicators during the Reporting Period
and Their Reasons
√ Applicable □ Not Applicable
1. Balance sheet items
At the end of the reporting period, the notes receivable increased by 96.02% and the accounts receivable financing decreased by 100%
as compared with those at the beginning of the year, mainly due to reclassification of accounting subject.
At the end of the reporting period, prepayments increased by 73.01% as compared with that at the beginning of the year, mainly due
to the increase in prepayments for materials.
At the end of the reporting period, other receivables decreased by 33.65% as compared with that at the beginning of the year, mainly
due to the fact that dividends receivable decreased by 100% as compared with that at the beginning of the year and no dividends
receivable occurred in the period.
At the end of the reporting period, projects under construction increased by 37.22% as compared with that at the beginning of the
year, mainly due to the investment of Maoshan intelligent manufacturing base project.
At the end of the reporting period, the deferred income tax assets increased by 142.42% as compared with that at the beginning of the
year, mainly due to the increase in accrued expenses.
At the end of the reporting period, other non-current assets increased by 73.09% as compared with that at the beginning of the year,
mainly due to the increase in prepayments for equipment.
At the end of the reporting period, accounts payable increased by 32.64% as compared with that at the beginning of the year, mainly
due to the increase in purchase amount payables.
At the end of the reporting period, advance receipts decreased by 100% and the contract liabilities increased by 100% as compared
with those at the beginning of the year, mainly due to reclassification of accounting subject in accordance with the new CAS 14.
At the end of the reporting period, the payroll payable decreased by 63.38% as compared with that at the beginning of the year,
mainly due to the completion of granting year-end bonuses of the last year.
At the end of the reporting period, the taxes payable increased by 320.73% as compared with that at the beginning of the year, mainly
due to the increase in income tax expenses in this reporting period.
2. Income statement items
During the reporting period, other income increased by 31.35% as compared with that during the same period of the previous year,
mainly due to the increase in financial subsidy.
During the reporting period, investment income decreased by 40.56% as compared with that during the same period of the previous
year, mainly due to the decrease in the bank wealth management income.
During the reporting period, non-operating expenditure decreased by 53.94% as compared with that during the same period of the
previous year, mainly due to the decrease in damage and scrapping losses of non-current assets.
During the reporting period, minority shareholders' gains and losses increased by 45.55% as compared with that during the same
period of the previous year, mainly due to the profit increase of the holding subsidiaries.
3. Cash flow statement items
In the reporting period, net cash flows from investment activities decreased by 129.81% as compared with that in the same period of
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the previous year, mainly due to the decrease in the amount recovered from bank wealth management products upon maturity.
II. Progress and Influence of Significant Matters, and the Analysis and Explanation on
Solutions
□ Applicable √ Not Applicable
Progress in the implementation of shares repurchase
□ Applicable √ Not Applicable
Progress of transferring repurchased shares by means of centralized bidding
□ Applicable √ Not Applicable
III. Commitments Made by the Company’s Actual Controllers, Shareholders, Affiliates,
Purchasers and the Company Itself and Other Relevant Parties Not Yet Fulfilled at the End
of the Reporting Period
□ Applicable √ Not Applicable
During the reporting period, there were no commitments made by the Company’s actual controllers, shareholders, affiliates,
purchasers and the Company itself and other relevant parties not yet fulfilled at the end of the reporting period.
IV. Financial Asset Investment
1. Securities investment
□ Applicable √ Not Applicable
The Company had no securities investment during the reporting period.
2. Derivative investment
□ Applicable √ Not Applicable
The Company had no derivatives investment during the reporting period.
V. Progress of Fundraising Investment Projects
□ Applicable √ Not Applicable
VI. Predictions of Operating Results in 2020
Warnings and reasons for the prediction of the potential losses in the accumulated net profit from the beginning of the year to the end
of the next reporting period or significant changes as compared with that of the same period of the previous year
□ Applicable √ Not Applicable
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VII. Material Contracts for Daily Operations
□ Applicable √ Not Applicable
VIII. Entrusted Financial Management
√ Applicable □ Not Applicable
Unit: RMB 10,000
Overdue amount not
Specific type Fund source Amount incurred Undue balance
recovered
Bank financial
Equity fund 110,000 110,000 0
products
Total 110,000 110,000 0
Specific conditions for high-risk entrusted financial management with significant single amount or low security, comparatively poor
liquidity and no guarantee of the capital
□ Applicable √ Not Applicable
Conditions where the capital of entrusted financial management cannot be recovered or may be impaired
□ Applicable √ Not Applicable
IX. Illegal External Guarantees
□ Applicable √ Not Applicable
The Company had no illegal external guarantees during the reporting period.
X. Non-operating Occupation of Funds of the Listed Company by the Controlling
Shareholder and its Affiliated Parties
□ Applicable √ Not Applicable
There was no non-operating occupation of funds of the listed company by the controlling shareholder and its affiliated parties during
the reporting period.
XI. Registration Form for Receiving Researches, Communications, Interviews and Other
Activities during the Reporting Period
√ Applicable □ Not Applicable
Main content
Type of Index for the basic
Ways of Object for discussion
Date Venue object information of the
reception received and materials
received research
provided
Meeting Field Organizatio See Record of Investor Relations Activity on August 28,
August 28, 2020
room research n 2020 at www.cninfo.com.cn for further information about
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objects received and main communications
See Record of Investor Relations Activity on September
Meeting Field Organizatio
September 22, 2020 22, 2020 at www.cninfo.com.cn for further information
room research n
about objects received and main communications
See Record of Investor Relations Activity on September
Meeting Field Organizatio
September 24, 2020 24, 2020 at www.cninfo.com.cn for further information
room research n
about objects received and main communications
Page 10 of 31
Full Text of Q3 2020 Report of Hangzhou Robam Appliances Co., Ltd.
Chapter 4 Financial Statements
I. Financial Statements
1. Consolidated Balance Sheet
Prepared by: Hangzhou Robam Appliances Co., Ltd.
September 30, 2020
In RMB
Item September 30, 2020 December 31, 2019
Current assets:
Monetary capital 4,302,160,801.19 4,054,121,726.23
Deposit reservation for balance 1,460,000,000.00 1,360,000,000.00
Lendings to banks and other
financial institutions
Financial assets held for trading
Derivative financial assets
Notes receivable 1,934,157,347.09 986,693,149.40
Accounts receivable 782,136,847.30 725,630,901.28
Accounts receivable financing 408,972,104.07
Prepayments 86,702,230.83 50,113,549.84
Receivable premium
Reinsurance accounts receivable
Provision of cession receivable
Other receivables 73,582,243.83 110,899,448.65
Including: Interests receivable
Dividends receivable 14,295,039.38
Redemptory monetary capital
for sale
Inventory 1,387,935,072.91 1,339,176,925.20
Contract assets
Assets held for sale
Non-current assets due within
one year
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Other current assets 16,189,237.81
Total current assets 10,026,674,543.15 9,051,797,042.48
Non-current assets:
Loans and advances
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 3,210,849.54 4,168,338.79
Investment in other equity
102,116,023.22 102,116,023.22
instruments
Other non-current financial
assets
Investment real estate 105,848.24 112,588.34
Fixed assets 779,157,876.76 826,234,929.97
Projects under construction 373,533,782.45 272,211,720.62
Productive biological assets
Oil and gas assets
Right-of-use assets
Intangible assets 233,988,739.52 219,733,270.51
Development expenses
Goodwill 80,589,565.84 80,589,565.84
Long-term deferred expenses 941,882.88 523,195.74
Deferred income tax assets 171,817,770.58 70,877,116.09
Other non -current assets 40,777,480.00 23,558,781.27
Total non-current assets 1,786,239,819.03 1,600,125,530.39
Total assets 11,812,914,362.18 10,651,922,572.87
Current liabilities:
Short-term loans
Borrowings from the central
bank
Borrowings from banks and
other financial institutions
Financial liabilities held for
trading
Derivative financial liabilities
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Notes payable 544,620,763.64 603,308,648.96
Accounts payable 1,850,478,563.84 1,395,061,285.28
Advance receipts 1,092,261,332.25
Contract liabilities 928,913,961.34
Financial assets sold for
repurchase
Deposits from customers and
interbank
Receivings from vicariously
traded securities
Receivings from vicariously
traded securities
Payroll payable 44,696,422.54 122,070,325.03
Taxes payable 432,200,692.62 102,726,655.21
Other payables 243,024,036.82 241,641,864.89
Including: Interests payable
Dividends payable
Fees and commissions payable
Dividends payable for
reinsurance
Liabilities held for sale
Non-current liabilities due
within one year
Other current liabilities
Total current liabilities 4,043,934,440.80 3,557,070,111.62
Non-current liabilities:
Reserves for insurance contracts
Long-term loans
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term accounts payable
Long-term payroll payable
Estimated liabilities
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Deferred income 120,120,518.71 114,851,263.30
Deferred income tax liabilities 5,326,328.40 5,717,848.25
Other non-current liabilities
Total non-current liabilities 125,446,847.11 120,569,111.55
Total liabilities 4,169,381,287.91 3,677,639,223.17
Owner’s equity:
Capital stock 949,024,050.00 949,024,050.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 401,799,332.67 401,799,332.67
Less: treasury share
Other comprehensive income -15,157,634.16 -15,157,634.16
Special reserves
Surplus reserves 474,516,412.50 474,516,412.50
General risk reserves
Undistributed profits 5,702,533,798.95 5,054,206,720.45
Total owners' equity attributable to
7,512,715,959.96 6,864,388,881.46
parent company
Minority interests 130,817,114.31 109,894,468.24
Total owner's equity 7,643,533,074.27 6,974,283,349.70
Total liabilities and owners' equity 11,812,914,362.18 10,651,922,572.87
Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu
Head of the accounting department: Zhang Guofu
2. Balance Sheet of the Parent Company
In RMB
Item September 30, 2020 December 31, 2019
Current assets:
Monetary capital 4,129,961,876.63 3,974,490,043.89
Financial assets held for trading 1,300,000,000.00 1,100,000,000.00
Derivative financial assets
Notes receivable 1,934,157,347.09 974,185,844.67
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Accounts receivable 730,482,210.55 704,246,884.81
Accounts receivable financing 408,605,906.50
Prepayments 65,159,487.60 41,005,526.82
Other receivables 62,985,916.44 105,766,154.95
Including: Interests receivable
Dividends receivable 14,295,039.38
Inventory 1,318,408,586.92 1,268,289,683.46
Contract assets
Assets held for sale
Non-current assets due within
one year
Other current assets 12,064,254.50
Total current assets 9,541,155,425.23 8,588,654,299.60
Non-current assets:
Debt investment
Other debt investment
Long-term account receivable
Long-term equity investment 229,716,783.27 230,674,272.52
Investment in other equity
102,116,023.22 102,116,023.22
instruments
Other non-current financial
assets
Investment real estate 411,817.24 436,960.72
Fixed assets 752,997,174.82 798,954,901.11
Projects under construction 347,788,706.29 271,619,361.89
Productive biological assets
Oil and gas assets
Right-of-use assets
Intangible assets 151,134,140.63 157,002,023.43
Development expenses
Goodwill
Long-term deferred expenses 855,258.52 383,195.74
Deferred income tax assets 170,429,001.38 70,173,783.09
Other non -current assets 40,777,480.00 23,558,781.27
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Total non-current assets 1,796,226,385.37 1,654,919,302.99
Total assets 11,337,381,810.60 10,243,573,602.59
Current liabilities:
Short-term loans
Financial liabilities held for
trading
Derivative financial liabilities
Notes payable 507,227,182.08 601,960,648.96
Accounts payable 1,781,962,236.67 1,358,297,550.30
Advance receipts 983,128,543.51
Contract liabilities 871,934,538.16
Payroll payable 35,449,688.18 97,599,336.20
Taxes payable 414,837,319.48 96,425,637.42
Other payables 226,379,012.21 226,064,422.04
Including: Interests payable
Dividends payable
Liabilities held for sale
Non-current liabilities due
within one year
Other current liabilities
Total current liabilities 3,837,789,976.78 3,363,476,138.43
Non-current liabilities:
Long-term loans
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities
Long-term accounts payable
Long-term payroll payable
Estimated liabilities
Deferred income 102,879,098.71 114,851,263.30
Deferred income tax liabilities
Other non-current liabilities
Total non-current liabilities 102,879,098.71 114,851,263.30
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Total liabilities 3,940,669,075.49 3,478,327,401.73
Owner’s equity:
Capital stock 949,024,050.00 949,024,050.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 401,754,349.66 401,754,349.66
Less: treasury share
Other comprehensive income -15,157,634.16 -15,157,634.16
Special reserves
Surplus reserves 474,516,412.50 474,516,412.50
Undistributed profits 5,586,575,557.11 4,955,109,022.86
Total owner's equity 7,396,712,735.11 6,765,246,200.86
Total liabilities and owners' equity 11,337,381,810.60 10,243,573,602.59
3. Consolidated Income Statement during the Reporting Period
In RMB
Item Amount of the current period Amount of the previous period
I. Total operating income 2,415,077,732.21 2,097,606,924.30
Including: Operating income 2,415,077,732.21 2,097,606,924.30
Interest income
Earned premium
Fee and commission income
II. Total operating costs 1,820,319,752.38 1,626,491,205.87
Including: Operating costs 965,658,522.56 929,416,753.93
Interest expenses
Fee and commission expenses
Surrender value
Net payments for insurance claims
Net allotment of reserves for insurance
liabilities
Policy dividend expenditures
Reinsurance expenses
Taxes and surcharges 17,372,120.54 16,898,617.83
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Selling expenses 738,667,911.14 566,766,627.49
Overhead costs 76,939,528.27 67,127,915.14
R&D expenses 81,580,590.92 76,250,213.58
Financial expenses -59,898,921.05 -29,968,922.10
Including: Interest expenses 4,078,406.12
Interest income 65,138,166.62 29,217,382.55
Add: other income 5,861,441.83 3,751,701.65
Investment income (“-” for losses) 14,810,657.55 25,609,237.33
Including: Income from investment in joint
1,281,731.21 2,060,171.09
ventures and affiliated enterprises
Gains on derecognition of financial
assets measured at amortized cost
Exchange gains (“-” for losses)
Net exposure hedging gains (“-” for losses)
Gains from changes in fair value (“-” for
losses)
Losses from credit impairment (“-” for
-3,063,243.12 -654,094.55
losses)
Losses from asset impairment (“-” for losses)
Gains on disposal of assets (“-” for losses) 34,185.94 330,810.85
III. Operating profits (“-” for losses) 612,401,022.03 500,153,373.71
Add: non-operating income 136,015.77 1,516,796.98
Less: non-operating expenditure 93,946.13 1,002,387.45
IV. Total profits (“-” for total losses) 612,443,091.67 500,667,783.24
Less: income tax expenses 91,859,781.45 78,082,299.02
V. Net profits (“-” for losses) 520,583,310.22 422,585,484.22
(I) By operational sustainability
1. Net profits from continuing operations (“-” for
520,583,310.22 422,585,484.22
net losses)
2. Net profits from discontinued operations (“-”
for net losses)
(II) By ownership
1. Net profits attributable to the owners of parent
510,521,854.21 415,223,408.27
company
2. Minority shareholders' gains and losses 10,061,456.01 7,362,075.95
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VI. After-tax net amount of other comprehensive
income
After-tax net amount of other comprehensive
income attributable to the owners of parent company
(I) Other comprehensive income that cannot be
reclassified into gains and losses
1. Changes in re-measured and defined
benefit plans
2. Other comprehensive income which
cannot be transferred to gains or losses under the
equity method
3. Changes in fair value of the investment
in other equity instruments
4. Changes in fair value of the credit risk
of the Company
5. Others
(II) Other comprehensive income which will be
reclassified into gains and losses
1. Other comprehensive income which can
be transferred into gains and losses under the equity
method
2. Changes in fair value of other debt
investments
3. Amount of financial assets reclassified
into other comprehensive income
4. Provision for credit impairment of other
debt investments
5. Cash flow hedge reserve
6. Converted difference in foreign
currency statements
7. Others
After-tax net amount of other comprehensive
income attributable to minority shareholders
VII. Total comprehensive income 520,583,310.22 422,585,484.22
Total comprehensive income attributable to the
510,521,854.21 415,223,408.27
owners of parent company
Total comprehensive income attributable to
10,061,456.01 7,362,075.95
minority shareholders
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VIII. Earnings per share (EPS):
(I) Basic EPS 0.54 0.43
(II) Diluted EPS 0.54 0.43
Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu
Head of the accounting department: Zhang Guofu
4. Income Statement of the Parent Company during the Reporting Period
In RMB
Item Amount of the current period Amount of the previous period
I. Operating income 2,217,408,111.69 1,913,478,145.97
Less: operating costs 898,429,235.56 870,660,956.25
Taxes and surcharges 16,062,717.80 14,928,367.84
Selling expenses 657,797,328.71 494,289,468.62
Administrative expenses 57,066,462.69 46,258,967.41
R&D expenses 77,531,328.38 74,014,215.72
Financial expenses -58,473,545.22 -29,842,457.70
Including: Interest expenses 4,078,406.12
Interest income 63,943,177.36 28,950,692.46
Add: other income 5,282,428.53 3,432,351.15
Investment income (“-” for losses) 13,267,568.13 23,532,336.60
Including: Income from investment in joint
1,281,731.21 2,060,171.09
ventures and affiliated enterprises
Gains on derecognition of financial assets
measured at amortized cost
Net exposure hedging gains (“-” for losses)
Gains from changes in fair value (“-” for
losses)
Losses from credit impairment (“-” for losses) -3,394,324.28 -1,347,328.85
Losses from asset impairment (“-” for losses)
Gains on disposal of assets (“-” for losses) 4,757.33 51,884.79
II. Operating profits (“-” for losses) 584,155,013.48 468,837,871.52
Add: non-operating income 114,126.10 1,450,130.00
Less: non-operating expenditure 3,017.72 75,873.91
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III. Total profits (“-” for total losses) 584,266,121.86 470,212,127.61
Less: income tax expenses 87,622,662.42 70,416,452.79
IV. Net profits (“-” for net losses) 496,643,459.44 399,795,674.82
(I) Net profits from going concern (“-” for net
496,643,459.44 399,795,674.82
losses)
(II) Net profits from discontinued operations (“-” for
net losses)
V. After-tax net amount of other comprehensive income
(I) Other comprehensive income that cannot be
reclassified into gains and losses
1. Changes in re-measured and defined
benefit plans
2. Other comprehensive income which
cannot be transferred to gains or losses under the equity
method
3. Changes in fair value of the investment in
other equity instruments
4. Changes in fair value of the credit risk of
the Company
5. Others
(II) Other comprehensive income which will be
reclassified into gains and losses
1. Other comprehensive income which can
be transferred into gains and losses under the equity
method
2. Changes in fair value of other debt
investments
3. Amount of financial assets reclassified
into other comprehensive income
4. Provision for credit impairment of other
debt investments
5. Cash flow hedge reserve
6. Converted difference in foreign currency
statements
7. Others
VI. Total comprehensive income 496,643,459.44 399,795,674.82
VII. EPS:
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(I) Basic EPS
(II) Diluted EPS
5. Consolidated Income Statement from the Beginning of the Year to the End of the Reporting Period
In RMB
Item Amount of the current period Amount of the previous period
I. Total operating income 5,626,250,068.00 5,625,020,807.26
Including: Operating income 5,626,250,068.00 5,625,020,807.26
Interest income
Earned premium
Fee and commission income
II. Total operating costs 4,375,042,721.71 4,439,593,417.70
Including: Operating costs 2,416,387,099.14 2,528,818,716.74
Interest expenses
Fee and commission expenses
Surrender value
Net payments for insurance claims
Net allotment of reserves for insurance
liabilities
Policy dividend expenditures
Reinsurance expenses
Taxes and surcharges 42,560,354.77 46,357,616.21
Selling expenses 1,631,347,208.90 1,556,811,534.10
Overhead costs 193,024,850.25 183,299,443.91
R&D expenses 199,404,623.54 183,879,999.71
Financial expenses -107,681,414.89 -59,573,892.97
Including: Interest expenses 4,217,690.38 201,831.98
Interest income 112,742,985.04 59,525,309.87
Add: other income 79,587,676.11 60,590,883.49
Investment income (“-” for losses) 38,912,889.91 65,468,211.82
Including: Income from investment in joint
-957,489.25 2,129,369.04
ventures and affiliated enterprises
Gains on derecognition of financial assets
measured at amortized cost
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Exchange gains (“-” for losses)
Net exposure hedging gains (“-” for losses)
Gains from changes in fair value (“-” for
losses)
Losses from credit impairment (“-” for losses) -21,575,012.71 -9,606,123.78
Losses from asset impairment (“-” for losses)
Gains on disposal of assets (“-” for losses) 45,574.92 34,138.62
III. Operating profits (“-” for losses) 1,348,178,474.52 1,301,914,499.71
Add: non-operating income 722,368.94 3,128,743.07
Less: non-operating expenditure 1,789,250.77 3,884,831.50
IV. Total profits (“-” for total losses) 1,347,111,592.69 1,301,158,411.28
Less: income tax expenses 203,349,843.12 201,156,337.17
V. Net profits (“-” for losses) 1,143,761,749.57 1,100,002,074.11
(I) By operational sustainability
1. Net profits from continuing operations (“-” for
1,143,761,749.57 1,100,002,074.11
net losses)
2. Net profits from discontinued operations (“-” for
net losses)
(II) By ownership
1. Net profits attributable to the owners of parent
1,122,839,103.50 1,085,627,402.47
company
2. Minority shareholders' gains and losses 20,922,646.07 14,374,671.64
VI. After-tax net amount of other comprehensive income
After-tax net amount of other comprehensive income
attributable to the owners of parent company
(I) Other comprehensive income that cannot be
reclassified into gains and losses
1. Changes in re-measured and defined
benefit plans
2. Other comprehensive income which
cannot be transferred to gains or losses under the equity
method
3. Changes in fair value of the investment in
other equity instruments
4. Changes in fair value of the credit risk of
the Company
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5. Others
(II) Other comprehensive income which will be
reclassified into gains and losses
1. Other comprehensive income which can
be transferred into gains and losses under the equity
method
2. Changes in fair value of other debt
investments
3. Amount of financial assets reclassified
into other comprehensive income
4. Provision for credit impairment of other
debt investments
5. Cash flow hedge reserve
6. Converted difference in foreign currency
statements
7. Others
After-tax net amount of other comprehensive income
attributable to minority shareholders
VII. Total comprehensive income 1,143,761,749.57 1,100,002,074.11
Total comprehensive income attributable to the
1,122,839,103.50 1,085,627,402.47
owners of parent company
Total comprehensive income attributable to minority
20,922,646.07 14,374,671.64
shareholders
VIII. Earnings per share (EPS):
(I) Basic EPS 1.18 1.14
(II) Diluted EPS 1.18 1.14
Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu
Head of the accounting department: Zhang Guofu
6. Income Statement of the Parent Company from the Beginning of the Year to the End of the Reporting
Period
In RMB
Item Amount of the current period Amount of the previous period
I. Operating income 5,198,322,792.46 5,173,271,472.64
Less: operating costs 2,248,014,439.91 2,378,159,108.17
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Taxes and surcharges 39,037,688.05 41,260,532.79
Selling expenses 1,469,921,060.61 1,362,174,692.49
Administrative expenses 139,284,068.19 127,376,083.37
R&D expenses 190,474,563.55 177,725,385.19
Financial expenses -105,475,691.78 -57,647,916.09
Including: Interest expenses 4,217,690.38 201,831.98
Interest income 110,584,748.01 57,198,018.80
Add: other income 73,916,808.25 55,342,033.44
Investment income (“-” for losses) 31,888,001.32 60,496,673.26
Including: Income from investment in joint
-957,489.25 2,129,369.04
ventures and affiliated enterprises
Gains on derecognition of financial assets
measured at amortized cost
Net exposure hedging gains (“-” for losses)
Gains from changes in fair value (“-” for
losses)
Losses from credit impairment (“-” for losses) -20,109,638.66 -10,495,755.49
Losses from asset impairment (“-” for losses)
Gains on disposal of assets (“-” for losses) 1,639.59 -244,787.44
II. Operating profits (“-” for losses) 1,302,763,474.43 1,249,321,750.49
Add: non-operating income 661,224.15 2,975,654.06
Less: non-operating expenditure 1,560,016.94 1,169,135.48
III. Total profits (“-” for total losses) 1,301,864,681.64 1,251,128,269.07
Less: income tax expenses 195,886,122.39 187,858,000.66
IV. Net profits (“-” for net losses) 1,105,978,559.25 1,063,270,268.41
(I) Net profits from going concern (“-” for net
1,105,978,559.25 1,063,270,268.41
losses)
(II) Net profits from discontinued operations (“-”
for net losses)
V. After-tax net amount of other comprehensive income
(I) Other comprehensive income that cannot be
reclassified into gains and losses
1. Changes in re-measured and defined
benefit plans
2. Other comprehensive income which
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Full Text of Q3 2020 Report of Hangzhou Robam Appliances Co., Ltd.
cannot be transferred to gains or losses under the equity
method
3. Changes in fair value of the investment in
other equity instruments
4. Changes in fair value of the credit risk of
the Company
5. Others
(II) Other comprehensive income which will be
reclassified into gains and losses
1. Other comprehensive income which can
be transferred into gains and losses under the equity
method
2. Changes in fair value of other debt
investments
3. Amount of financial assets reclassified
into other comprehensive income
4. Provision for credit impairment of other
debt investments
5. Cash flow hedge reserve
6. Converted difference in foreign currency
statements
7. Others
VI. Total comprehensive income 1,105,978,559.25 1,063,270,268.41
VII. EPS:
(I) Basic EPS
(II) Diluted EPS
7. Consolidated Cash Flow Statement from the Beginning of the Year to the End of Reporting Period
In RMB
Item Amount of the current period Amount of the previous period
I. Cash flow from operating activities:
Cash received for the sale of goods and rendering of
5,536,983,526.17 5,597,588,789.97
services
Net increase in clients’ deposits and deposits from
banks and other financial institutions
Net increase in borrowings from the central bank
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Net increase in borrowings from other financial
institutions
Cash received from receiving insurance premium of
the original insurance contract
Net cash from receiving reinsurance premium
Net increase in deposits and investment of insured
persons
Cash received from interests, fees and commissions
Net increase in borrowed funds
Net increase in repurchase business funds
Net cash received from vicariously traded securities
Refunds of taxes 548,519.01
Cash received relating to other operating activities 224,148,875.21 137,720,406.72
Subtotal of cash inflow from the operating activities 5,761,132,401.38 5,735,857,715.70
Cash paid for purchased products and received
2,612,978,014.34 2,348,446,926.51
services
Net increase in loans and advances to customers
Net increase in deposits with the central bank and
other financial institutions
Cash paid for claims of original insurance contract
Net increase in lending funds
Cash paid for interests, fees and commissions
Cash paid for policy dividends
Cash paid to and on behalf of employees 546,701,880.29 522,706,852.79
Cash paid for taxes 480,586,939.03 627,369,800.29
Cash paid related to other operating activities 1,179,914,382.44 1,202,119,273.35
Subtotal of cash outflow from operating activities 4,820,181,216.10 4,700,642,852.94
Net cash flow from operating activities 940,951,185.28 1,035,214,862.76
II. Cash flow from investing activities:
Cash received from sales of investments 1,320,000,000.00 2,487,500,000.00
Cash received from return on investments 55,619,492.71 72,410,430.17
Net cash received from the disposal of fixed assets,
168,392.00 517,944.71
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries and
other business entities
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Cashes received related to other investment
activities
Subtotal of cash inflow from investing activities 1,375,787,884.71 2,560,428,374.88
Cash paid for purchase and construction of fixed
184,150,960.67 210,767,796.17
assets, intangible assets and other long-term assets
Cash paid to investments 1,420,000,000.00 1,578,500,000.00
Net increase in pledged loans
Net cash from subsidiaries and other operating
5,000,000.00
entities
Cash paid related to other investment activities
Subtotal of cash outflow from investing activities 1,604,150,960.67 1,794,267,796.17
Net cash flow from investment activities -228,363,075.96 766,160,578.71
III. Cash flow from financing activities:
Cash from acquiring investments
Including: Cash received by subsidiaries from
investments of minority shareholders
Cash from acquiring debts
Other cashes received in relation to financing
activities
Subtotal of cash inflow from financing activities
Cash repayments of debts
Cash paid for distribution of dividends, profits or
474,512,025.00 759,219,240.00
interest expenses
Including: Dividends or profits paid by subsidiaries
to minority shareholders
Other cashes paid in relation to financing activities
Subtotal of cash outflow from financing activities 474,512,025.00 759,219,240.00
Net cash flow from financing activities -474,512,025.00 -759,219,240.00
IV. Effect of change in exchange rate on cash and cash
-125,536.04 777,298.72
equivalents
V. Net increase in cash and cash equivalents 237,950,548.28 1,042,933,500.19
Add: Opening balance of cash and cash equivalents 4,029,296,265.50 2,177,219,858.85
VI. Closing balance of cash and cash equivalents 4,267,246,813.78 3,220,153,359.04
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8. Cash Flow Statement of Parent Company from the Beginning of the Year to the End of Reporting Period
In RMB
Item Amount of the current period Amount of the previous period
I. Cash flow from operating activities:
Cash received for the sale of goods and rendering of
5,124,617,220.03 5,177,455,334.94
services
Refunds of taxes
Cash received relating to other operating activities 176,456,320.02 115,072,030.83
Subtotal of cash inflow from the operating activities 5,301,073,540.05 5,292,527,365.77
Cash paid for purchased products and received
2,479,264,199.73 2,258,792,791.19
services
Cash paid to and on behalf of employees 435,619,214.33 408,109,017.82
Cash paid for taxes 444,445,218.17 566,307,011.96
Cash paid related to other operating activities 1,029,718,579.26 1,025,411,970.55
Subtotal of cash outflow from operating activities 4,389,047,211.49 4,258,620,791.52
Net cash flow from operating activities 912,026,328.56 1,033,906,574.25
II. Cash flow from investing activities:
Cash received from sales of investments 900,000,000.00 2,130,000,000.00
Cash received from return on investments 48,392,109.16 67,438,891.61
Net cash received from the disposal of fixed assets,
78,392.00 517,944.71
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries and
other business entities
Cashes received related to other investment
activities
Subtotal of cash inflow from investing activities 948,470,501.16 2,197,956,836.32
Cash paid for purchase and construction of fixed
139,385,632.39 194,211,274.34
assets, intangible assets and other long-term assets
Cash paid to investments 1,100,000,000.00 1,204,500,000.00
Net cash from subsidiaries and other operating
5,000,000.00
entities
Cash paid related to other investment activities
Subtotal of cash outflow from investing activities 1,239,385,632.39 1,403,711,274.34
Net cash flow from investment activities -290,915,131.23 794,245,561.98
III. Cash flow from financing activities:
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Cash from acquiring investments
Cash from acquiring debts
Other cashes received in relation to financing
activities
Subtotal of cash inflow from financing activities
Cash repayments of debts
Cash paid for distribution of dividends, profits or
474,512,025.00 759,219,240.00
interest expenses
Other cashes paid in relation to financing activities
Subtotal of cash outflow from financing activities 474,512,025.00 759,219,240.00
Net cash flow from financing activities -474,512,025.00 -759,219,240.00
IV. Effect of change in exchange rate on cash and cash
-125,598.56 777,331.45
equivalents
V. Net increase in cash and cash equivalents 146,473,573.77 1,069,710,227.68
Add: Opening balance of cash and cash equivalents 3,951,074,513.16 2,000,183,395.66
VI. Closing balance of cash and cash equivalents 4,097,548,086.93 3,069,893,623.34
II. Description on Adjustments in Financial Statement
1. Relevant financial statement items at the beginning of 2020 when the new CAS 14 and the adjustments
stipulated in the new CAS 21-Lease apply for the first time
√ Applicable □ Not Applicable
Should the balance sheet items be adjusted at the beginning of the year?
√ Yes □ No
Consolidated Balance Sheet
In RMB
Item December 31, 2019 January 1, 2020 Adjusted figure
Advance receipts 1,092,261,332.25 0.00 -1,092,261,332.25
Contract liabilities 1,092,261,332.25 1,092,261,332.25
Balance Sheet of the Parent Company
In RMB
Item December 31, 2019 January 1, 2020 Adjusted figure
Advance receipts 983,128,543.51 0.00 -983,128,543.51
Contract liabilities 983,128,543.51 983,128,543.51
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2. Description on early comparative data at the beginning of 2020 when the new CAS 14 and the retroactive
adjustments stipulated in the new CAS 21-Lease apply for the first time
□ Applicable √ Not Applicable
III. Audit Report
Whether the Q3 report has been audited？
□ Yes √ No
The Q3 report of the Company has not been audited.
Page 31 of 31
