Full Text of Robam Appliances’ Q1 2022 Report Stock code: 002508 Stock name: Robam Appliances Announcement No.: 2022--023 Hangzhou Robam Appliances Co., Ltd. Q1 2022 Report Hangzhou Robam Appliances Co., Ltd. (the Company) and all members of its Board of Directors hereby guarantee that there are no false representations, misleading statements or material omissions in this Quarterly Report (“the Report”), and the information contained herein is authentic, accurate and complete. Important Notes: 1. The Board of Directors, the Board of Supervisors, as well as the directors, supervisors and senior management of the Company hereby guarantee that there are no false representations, misleading statements or material omissions in the Report, and are severally and jointly liable for the authenticity, accuracy and completeness of the information contained herein. 2. The head of the Company, the person in charge of the Company’s accounting and 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. 3. Whether the Q1 Report has been audited? □ Yes√ No I. Key Financial Data (I) Key Accounting Data and Financial Indicators Whether the Company needs to retroactively adjust or restate the accounting data of previous years? □ Yes√ No The reporting period The same period last year YoY change Operating income (RMB) 2,086,165,521.12 1,908,332,042.49 9.32% Net profit attributable to shareholders of 367,704,718.16 358,828,585.88 2.47% the listed company (RMB) Net profit attributable to shareholders of the listed company after deducting 335,557,193.45 321,817,120.06 4.27% non-recurring gains/losses (RMB) Net cash flow from operating activities 127,753,283.12 145,798,650.84 -12.38% (RMB) Basic earnings per share (EPS) 0.3875 0.3781 2.49% (RMB/share) Diluted EPS (RMB/share) 0.3875 0.3781 2.49% Weighted average return on net assets 4.17% 4.36% -0.19% End of the reporting period End of last year Change Total assets (RMB) 13,912,391,503.75 13,906,035,181.12 0.05% Owner's equity attributable to 8,995,942,468.61 8,627,026,739.27 4.28% shareholders of listed company (RMB) 1 Full Text of Robam Appliances’ Q1 2022 Report (II) Items and Amounts of Non-recurring Gains and Losses √ Applicable □ Not Applicable Unit: RMB Amount of the reporting Item Description period Gains and losses on disposal of non-current assets (including the part written-off -57,678.08 with provision for asset impairment accrued) Government subsidy included in current gains and losses (except the government subsidy closely related to the Company’s normal business, in line 37,033,815.58 with national policy and enjoyed by quota or ration in accordance with the unified national standard) Other non-operating revenues and expenses except the above items 1,031,095.32 Less: Affected amount of income tax 5,737,902.97 Affected amount of minority shareholders’ equity (after tax) 121,805.14 Total 32,147,524.71 -- Other items of gains and losses meeting the definition of non-recurring gains and losses: □ Applicable √ Not Applicable The Company does not have other items of gains and losses meeting the definition of non-recurring gains and losses Explanation on the circumstance where items of the non-recurring gains and losses listed 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”) are defined as recurring gains and losses □ Applicable √ Not Applicable There is no circumstance where the items of non-recurring gains and losses enumerated in accordance with the Announcement No.1 are defined as recurring gains and losses. (III) Changes in Major Accounting Data and Financial Indicators and Their Reasons √ Applicable □ Not Applicable 1. Balance sheet items At the end of the reporting period, prepayments increased by 36.73% as compared with that at the beginning of the year, mainly due to the increase in the prepayments for the purchase of raw materials in the current period. At the end of the reporting period, the long-term equity investment increased by 56.54% as compared with that at the beginning of the year, mainly due to the holding subsidiary Kinde's investment in Shaoxing Shagor Kitchen and Sanitary Technology Co., Ltd. At the end of the reporting period, taxes payable increased by 54.44% as compared with that at the beginning of the year, mainly due to temporary differences in accrued sales expenses. At the end of the reporting period, the payroll payable decreased by 86.29% as compared with that at the beginning of the yea r, mainly due to the completion of the payment of employees' salaries and bonuses last year. 2. Income statement items During the reporting period, Interest income increased by 35.11% as compared with that during the same period of the previous year, mainly due to the increase in the bank wealth management income. II. Shareholder Information (I) Total Number of Common Stockholders, the Number of Preferred Stockholders with the Voting Rights Recovered and Shareholding of the Top 10 Stockholders Unit: share 2 Full Text of Robam Appliances’ Q1 2022 Report Total number of preferred Total number of common shareholders at shareholders with the voting 66,641 rights recovered at the end of 0 the end of the reporting period reporting period (if any) Shareholding of the top 10 shareholders Number of Pledged, marked or frozen shares Nature of Shareholdin shares subject Name of shareholder Number of shares shareholder g ratio to sales Status Quantity restrictions Hangzhou Robam Domestic non- 49.68% 471,510,000 Industrial Group Co., state-own ed Ltd. corporation Hong Kong Securities Clearing Overseas 9.85% 93,524,646 Company Limited corporation Domestic natural 1.29% 12,240,000 Shen Guoying person TEMASEK Overseas FULLERTON 0.80% 7,620,574 corporation ALPHA PTE LTD Industrial Bank Co., Ltd. - ICBC Others Credit Suisse 7,348,519 Culture & Sports 0.77% Industry Equity Securities Investment Fund PICC Life Insurance Company Limited - Others dividends-dividends 7,124,899 0.75% of personal insurances Hangzhou Jinchuang Others 0.70% 6,640,085 Investment Co., Ltd. Hangzhou Yinchuang Others 0.67% 6,318,000 Investment Co., Ltd. Noregs Bank – Overseas 0.64% 6,060,174 Equity Fund corporation Domestic natural 0.62% 5,923,150 4,442,362 Ren Jianhua person Shareholding of the top 10 shareholders not subject to sales restrictions Type of share Name of shareholder Number of shares not subject to sales restrictions Type of share Quantity Hangzhou Robam Industrial Group Co., 471,510,000 RMB ordinary 471,510,000 Ltd. shares Hong Kong Securities Clearing Company 93,524,646 RMB ordinary 93,524,646 Limited shares Shen Guoying 12,240,000 RMB ordinary 12,240,000 shares TEMASEK FULLERTON ALPHA PTE RMB ordinary 7,620,574 7,620,574 LTD shares Industrial Bank Co., Ltd.-ICBC 7,348,519 RMB ordinary 7,348,519 Credit Suisse Culture & Sports Industry shares Equity Securities Investment Fund PICC Life Insurance Company Limited 7,124,899 RMB ordinary 7,124,899 -dividends-dividends of personal shares insurances Hangzhou Jinchuang Investment Co., Ltd. 6,640,085 RMB ordinary 6,640,085 shares Hangzhou Yinchuang Investment Co., 6,318,000 RMB ordinary 6,318,000 Ltd. shares 3 Full Text of Robam Appliances’ Q1 2022 Report Noregs Bank-Equity Fund 6,060,174 RMB ordinary 6,060,174 shares PICC Property And Casualty Company 5,848,294 RMB ordinary 5,848,294 Limited-traditional-general insurance shares products Mr. Ren Jianhua is the actual controller of the controlling shareholder Hangzhou Description of the associated relationship or Robam Industrial Group Co., Ltd. and the shareholder Hangzhou Jinchuang consistent actions of the above shareholders Investment Co., Ltd.; and the natural person shareholder, Shen Guoying, is 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 (if N/A any) (II) Total Number of the Company’s Preferred Shareholders and Shareholding of the Top 10 Preferred Shareholders □ Applicable √ Not Applicable III. Other Significant Matters □ Applicable √ Not Applicable IV. Quarterly Financial Statements (I) Financial Statements 1. Consolidated Balance Sheet Prepared by: Hangzhou Robam Appliances Co., Ltd. March 31, 2022 Unit: RMB Item Ending balance Beginning balance Current assets: Cash and cash equivalents 3,792,928,584.60 3,802,201,346.55 Deposit reservation for balance Lending funds to banks and other financial institutions Financial assets held for trading 2,899,012,500.00 2,872,312,500.00 Derivative financial assets Notes receivable 1,102,376,094.07 1,330,193,894.82 Accounts receivable 1,656,557,324.81 1,597,692,860.90 Accounts receivable financing Prepayments 179,338,196.08 131,162,030.95 Receivable premium Reinsurance accounts receivable Provision of cession receivable Other receivables 72,378,050.44 73,487,381.46 Including: Interests receivable Dividends receivable Redemptory monetary capital for sale Inventory 1,743,320,772.67 1,772,231,632.25 4 Full Text of Robam Appliances’ Q1 2022 Report Contract assets Assets held for sale Non-current assets due within one year Other current assets 739,028.29 4,110,429.16 Total current assets 11,446,650,550.96 11,583,392,076.09 Non-current assets: Loans and advances Debt investment Other debt investment Long-term receivables Long-term equity investment 8,461,102.31 5,405,129.91 Investment in other equity 2,116,023.22 2,116,023.22 instruments Other non-current financial assets Investment real estate 10,947,235.15 11,085,896.07 Fixed assets 1,177,144,288.10 1,179,306,020.01 Construction in process 543,092,696.91 454,643,364.82 Productive biological assets Oil & gas assets Right-of-use assets 23,364,101.34 29,902,954.22 Intangible assets 229,170,290.27 229,391,803.26 Development expenses Goodwill 80,589,565.84 80,589,565.84 Long-term deferred expenses 4,131,698.28 5,385,436.20 Deferred income tax assets 330,869,548.54 286,348,037.04 Other non-current assets 55,854,402.83 38,468,874.44 Total non-current assets 2,465,740,952.79 2,322,643,105.03 Total assets 13,912,391,503.75 13,906,035,181.12 Current liabilities: Short-term borrowings 28,457,942.30 29,616,655.41 Borrowings from the central bank Borrowings from banks and other financial institutions Financial liabilities held for trading Derivative financial liabilities Notes payables 950,055,025.66 962,665,463.99 Accounts payable 1,962,321,634.68 2,181,900,261.00 Advance receipts Contract liabilities 914,748,617.86 1,026,782,402.35 Financial assets sold for repurchase Deposits from customers and interbank Receivings from vicariously traded securities Receivings from vicariously sold securities 5 Full Text of Robam Appliances’ Q1 2022 Report Payroll payable 37,434,876.02 165,177,425.08 Taxes payable 327,715,110.72 212,202,393.54 Other payables 279,303,883.06 267,781,215.06 Including: Interests payable Dividends payable Fees and commissions payable Dividends payable for reinsurance Liabilities held for sale Non-current liabilities due within 5,212,376.01 5,387,591.43 one year Other current liabilities 109,794,701.11 124,284,081.56 Total current liabilities 4,615,044,167.42 4,975,797,489.42 Non-current liabilities: Reserves for insurance contracts Long-term loans Bonds payable Including: Preferred shares Perpetual bonds Lease liabilities 19,874,845.73 26,177,034.29 Long-term accounts payable Long-term payroll payable Estimated liabilities Deferred income 127,143,342.05 131,747,378.42 Deferred income tax liabilities 6,050,121.58 6,254,762.76 Other non-current liabilities Total non-current liabilities 153,068,309.36 164,179,175.47 Total liabilities 4,768,112,476.78 5,139,976,664.89 Owner’s equity: Capital stock 949,024,050.00 949,024,050.00 Other equity instruments Including: Preferred shares Perpetual bonds Capital reserve 406,129,109.33 404,918,098.15 Less: treasury share 199,995,742.59 199,995,742.59 Other comprehensive income -100,157,634.16 -100,157,634.16 Special reserves Surplus reserves 474,516,412.50 474,516,412.50 General risk reserves Undistributed profits 7,466,426,273.53 7,098,721,555.37 Total owners’ equity attributable to the 8,995,942,468.61 8,627,026,739.27 parent company Minority shareholders’ equity 148,336,558.36 139,031,776.96 Total owners’ equity 9,144,279,026.97 8,766,058,516.23 Total liabilities and owner’s equity 13,912,391,503.75 13,906,035,181.12 Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu Head of the accounting department: Zhang Guofu 6 Full Text of Robam Appliances’ Q1 2022 Report 2. Consolidated Income Statement Unit: RMB Item Amount of the current period Amount of the previous period I. Total operating income 2,086,165,521.12 1,908,332,042.49 Inc: Operating income 2,086,165,521.12 1,908,332,042.49 Interest income Earned premium Fee and commission income II. Total operating costs 1,727,936,174.67 1,543,621,310.18 Inc: Operating costs 989,635,398.35 814,110,436.09 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 13,729,855.74 13,074,563.80 Sale expenses 605,441,361.10 614,529,598.27 Administrative expenses 82,621,074.44 69,656,128.89 R&D expenses 67,446,579.35 58,442,093.60 Financial expense -30,938,094.31 -26,191,510.47 Including: Interest 338,676.96 expenses Interest income 32,910,853.48 24,358,320.45 Add: other income 55,728,815.59 47,513,900.41 Investment income (“-” for 12,688,500.39 15,249,786.30 losses) Including: Income from investment in joint ventures and -1,084,027.60 -812,165.09 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 4,247,008.89 3,418,677.20 (“-” for losses) Losses from asset impairment (“-” for losses) Gains on disposal of assets (“- 195,068.33 -1,831,792.95 ” for losses) 7 Full Text of Robam Appliances’ Q1 2022 Report III. Operating profits (“-” for losses) 431,088,739.65 429,061,303.27 Add: non-operating income 2,139,106.81 348,968.29 Less: non-operating expenditure 1,165,689.57 1,142,688.37 IV. Total profits (“-” for total losses) 432,062,156.89 428,267,583.19 Less: income tax expenses 66,052,657.33 65,694,372.94 V. Net profits (“-” for net losses) 366,009,499.56 362,573,210.25 (I) By operational sustainability 1. Net profits from continuing operations (“-” for net losses) 366,009,499.56 362,573,210.25 2. Net profits from discontinued operations (“-” for net losses) (II) By ownership 1. Net profits attributable to owners 367,704,718.16 358,828,585.88 of the parent company 2. Minority shareholders’ gains and -1,695,218.60 3,744,624.37 losses 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 into 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 investment 3. Amount of financial assets reclassified into other comprehensive income 4. Provision for credit impairment of other debt investment 5. Cash flow hedge reserve 8 Full Text of Robam Appliances’ Q1 2022 Report 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 366,009,499.56 362,573,210.25 Total comprehensive income attributable to owners of the parent 367,704,718.16 358,828,585.88 company Total comprehensive income -1,695,218.60 3,744,624.37 attributable to minority shareholders VIII. Earnings per share (EPS): (I) Basic EPS 0.3875 0.3781 (II) Diluted EPS 0.3875 0.3781 Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu Head of the accounting department: Zhang Guofu 3. Consolidated Cash Flow Statement Unit: RMB Item Amount of Amount of the current the previous period period I. Cash flow from operating activities: Cash received for the sale of 2,371,962,551.90 2,169,898,160.33 goods and rendering of labor services Net increase in clients’ deposits and deposits from banks and other financial institutions Net increase in borrowings from the central bank Net increase in borrowing funds 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 22,180,694.86 Cash received related to other 89,533,206.38 79,218,797.20 operating activities Subtotal of cash inflow from operating 2,483,676,453.14 2,249,116,957.53 activities 9 Full Text of Robam Appliances’ Q1 2022 Report Cash paid for purchased products 1,358,989,299.28 1,098,274,183.01 and received labor services Net increase in loans and advances to customers Net increase in deposits in 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 290,317,876.62 244,294,780.46 employees Cash paid for taxes 125,042,444.23 205,079,543.78 Cash paid related to other 581,573,549.89 555,669,799.44 operating activities Subtotal of cash outflow from 2,355,923,170.02 2,103,318,306.69 operating activities Net cash flow from operating activities 127,753,283.12 145,798,650.84 II. Cash flow from investment activities: Cash received from return of 626,300,000.00 629,000,000.00 investments Cash received from return on 14,448,081.14 16,523,049.30 investments Net cash received from disposal of fixed assets, intangible assets and 457,000.00 1,316,562.40 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 641,205,081.14 646,839,611.70 investment activities Cash paid for purchase and construction of fixed assets, 121,336,583.28 80,863,665.71 intangible assets and other long-term assets Cash paid for investments 657,140,000.00 502,000,000.00 Net increase in pledged loans Net cash from subsidiaries and other operating entities Cash paid related to other investment activities Subtotal of cash outflow from 778,476,583.28 582,863,665.71 investment activities Net cash flow from investment -137,271,502.14 63,975,945.99 activities III. Cash flow from financing activities: Cash from acquiring investments 11,000,000.00 550,000.00 Including: Cash received by subsidiaries from investments of 11,000,000.00 550,000.00 minority shareholders 10 Full Text of Robam Appliances’ Q1 2022 Report Cash from acquiring debts Cashes received related to other 1,012,732.06 financing activities Subtotal of cash inflow from financing 12,012,732.06 550,000.00 activities Cash paid for repayments of debts Cash paid for distribution of dividends, profits or interest expenses Including: Dividends or profits paid by subsidiaries to minority shareholders Cash paid related to other 2,173,346.92 financing activities Subtotal of cash outflow from 2,173,346.92 financing activities Net cash flow from financing activities 9,839,385.14 550,000.00 IV. Effect of change in exchange rate on cash and cash equivalents -205,124.41 257,034.19 V. Net increase in cash and cash 116,041.71 210,581,631.02 equivalents Add: Opening balance of cash and 3,719,988,820.35 3,886,096,513.56 cash equivalents VI. Closing balance of cash and cash 3,720,104,862.06 4,096,678,144.58 equivalents (II) Audit Report Whether the Q1 Report has been audited? □ Yes√ No The Q1 Report of the Company has not been audited. Board of Directors of Hangzhou Robam Appliances Co., Ltd. April 20, 2022 11