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老板电器:2022年第三季度报告(英文版)2022-11-05  

                                                                                      Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.




      Stock code: 002508         Stock name: Robam Appliances            Announcement No.: 2022-049




                    Hangzhou Robam Appliances Co., Ltd.
                                         Q3 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 Q3 report has been audited?

□ Yes  No




                                                                                                                 1
                                                                          Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


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
                                                                                    From the beginning of
                                The reporting period         YoY change            the year to the end of the         YoY change
                                                                                        reporting period
 Operating income (RMB)                2,792,652,705.58                1.74%                7,236,962,805.27                      2.35%
 Net profit attributable to
 shareholders of the listed             509,980,371.09                 -7.62%                1,233,529,752.34                     -8.11%
 company (RMB)
 Net profit attributable to
 shareholders of the listed
 company after deducting                496,561,217.73                 -8.82%                1,132,406,301.80                 -12.28%
 non-recurring gains/losses
 (RMB)
 Net cash flow from
                                          —                      —                         1,177,230,706.54                     -2.05%
 operating activities (RMB)
 Basic earnings per share
                                                  0.54                 -6.90%                            1.30                     -8.45%
 (EPS) (RMB/share)
 Diluted EPS (RMB/share)                          0.54                -6.90%                             1.30                 -8.45%
 Weighted average return                                  Reduced by 0.97 per                                    Reduced by 2.38 perc
                                                5.58%                                                13.58%
 on net assets                                                  centage point                                             entage point
                                 End of the reporting
                                                           End of last year                              Change
                                        period
 Total assets (RMB)                 14,399,660,135.37       13,906,035,181.12                                                     3.55%
 Owner's equity attributable
 to shareholders of listed             9,396,082,926.93      8,627,026,739.27                                                     8.91%
 company (RMB)




(II) Items and Amounts of Non-recurring Gains and Losses

 Applicable □ Not Applicable
                                                                                                                                  In RMB
                                                                                               Amount from the
                                                                        Amount in the          beginning of the
                                Item                                                                                    Description
                                                                       reporting period      year to the end of the
                                                                                               reporting period
 Gains and losses on disposal of non-current assets (including the
                                                                              -128,419.05              -162,598.77
 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 normal
                                                                          15,486,532.28              85,777,631.79
 business, in line with national policy and enjoyed by quota or
 ration in accordance with the unified national standard)
 Reversal of provision for separate impairment of accounts
                                                                              3,330,554.19           38,578,840.66
 receivable
 Other non-operating revenues and expenses except the above items              -259,989.51              949,881.55
 Less: Affected amount of income tax                                          3,138,289.40           19,207,531.03
       Affected amount of minority shareholders’ equity (after tax)          1,871,235.15            4,812,773.66
 Total                                                                    13,419,153.36             101,123,450.54           --


                                                                                                                                          2
                                                                               Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


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, notes receivable decreased by 40.47% as compared with that at the beginning of the year, mainly
due to the decrease in the construction business settled with notes receivable in the current period.
At the end of the reporting period, prepayments increased by 47.21% 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, investment real estate increased by 361.96% as compared with that at the beginning of the year,
mainly due to the increase in the leased real estates in the current period.
At the end of the reporting period, other non-current assets increased by 154.73% as compared with that at the beginning of the year,
mainly due to the increase in the mortgage of properties by property developers and prepayments for purchasing fixed assets.
At the end of the reporting period, short-term loans increased by 123.32% as compared with that at the beginning of the year, mainly
due to the increase in the bank loans of Kinde, a subsidiary.
At the end of the reporting period, the payroll payable decreased by 56.17% as compared with that at the beginning of the year, mainly
due to the completion of the payment of employees’ salaries and bonuses last year.

2. Income statement items

Other incomes increased by 85.53% as compared with that during the same period of the previous year, mainly due to the increase in
the government subsidy.


II. Shareholder Information

(I) 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 common shareholders at                      Total number of preferred shareholders with the voting
                                                    89,966                                                                              0
 the end of the reporting period                             rights recovered at the end of reporting period
                                                   Shareholding of the top 10 shareholders
                                                                                     Number of         Pledged, marked or frozen shares
                                                   Shareh
                                  Nature of                      Number of          shares subject
    Name of shareholder                             olding
                                 shareholder                       shares               to sales           Status           Number
                                                     ratio
                                                                                      restrictions
 Hangzhou Robam                 Domestic           49.68%           471,510,000


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                                                                          Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


Industrial Group Co.,        non-state-
Ltd.                         owned
                             corporation
Hong Kong Securities
                             Overseas
Clearing Company                                7.23%            68,621,451
                             corporation
Limited
TEMASEK
                             Overseas
FULLERTON ALPHA                                 1.65%            15,690,099
                             corporation
PTE LTD
                             Domestic
Shen Guoying                                    1.29%            12,240,000
                             natural person
PICC Life Insurance
Company Limited-
                             Others             0.77%             7,301,114
Dividend - Individual
Insurance Dividend
                             Domestic
Hangzhou Jinchuang           non-state-
                                                0.70%             6,640,085
Investment Co., Ltd.         owned
                             corporation
PICC Property and
Casualty Company
Limited-Traditional-        Others             0.67%             6,382,713
General Insurance
Products
                             Domestic
Hangzhou Yinchuang           non-state-
                                                0.67%             6,318,000
Investment Co., Ltd.         owned
                             corporation
CITIC Securities Co.,
Ltd - Social Security        Others             0.63%             5,989,930
Fund 1106 Portfolio
                             Domestic
Ren Jianhua                                    0.62%             5,923,150           4,442,362
                             natural person
                               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 Co.,                                                               RMB ordinary
                                                                                  471,510,000                               471,510,000
Ltd.                                                                                               shares
Hong Kong Securities Clearing Company                                                              RMB ordinary
                                                                                    68,621,451                               68,621,451
Limited                                                                                            shares
TEMASEK FULLERTON ALPHA PTE                                                                        RMB ordinary
                                                                                    15,690,099                               15,690,099
LTD                                                                                                shares
                                                                                                   RMB ordinary
Shen Guoying                                                                        12,240,000                               12,240,000
                                                                                                   shares
PICC Life Insurance Company Limited-                                                              RMB ordinary
                                                                                     7,301,114                                7,301,114
Dividend - Individual Insurance Dividend                                                           shares
                                                                                                   RMB ordinary
Hangzhou Jinchuang Investment Co., Ltd.                                              6,640,085                                6,640,085
                                                                                                   shares
PICC Property and Casualty Company
                                                                                                   RMB ordinary
Limited-Traditional - General Insurance                                             6,382,713                                6,382,713
                                                                                                   shares
Products
                                                                                                   RMB ordinary
Hangzhou Yinchuang Investment Co., Ltd.                                              6,318,000                                6,318,000
                                                                                                   shares
CITIC Securities Co., Ltd - Social Security                                                        RMB ordinary
                                                                                     5,989,930                                5,989,930
Fund 1106 Portfolio                                                                                shares
PICC Life Insurance Company Limited-                                                              RMB ordinary
                                                                                     5,814,597                                5,814,597
Traditional - General Insurance Products                                                           shares


                                                                                                                                    4
                                                                   Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


                                                    Mr. Ren Jianhua is the actual controller of the controlling shareholder
                                                    Hangzhou Robam Industrial Group Co., Ltd. and the shareholder Hangzhou
 Description of the associated relationship or
                                                    Jinchuang Investment Co., Ltd.; and the natural person shareholder, Shen
 consistent actions of the above shareholders
                                                    Guoying, is his wife. Therefore, there is a possibility that these
                                                    shareholders will act in concert.


(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.


                                                   September 30, 2022
                                                                                                                   In RMB
                   Item                            September 30, 2022                         January 1, 2022
 Current assets:
    Monetary capital                                            4,411,289,816.16                          3,802,201,346.55
    Deposit reservation for balance
    Lendings to banks and other financial
 institutions
    Financial assets held for trading                           2,679,960,000.00                          2,872,312,500.00
    Derivative financial assets
    Notes receivable                                              791,814,506.69                          1,330,193,894.82
    Accounts receivable                                         1,875,849,677.88                          1,597,692,860.90
    Accounts receivable financing
    Prepayments                                                  193,089,646.51                            131,162,030.95
    Receivable premium
    Reinsurance accounts receivable
    Provision of cession receivable
    Other receivables                                              83,015,180.45                             73,487,381.46
       Including: Interests receivable
               Dividends receivable
    Redemptory monetary capital for sale
    Inventory                                                   1,632,574,306.96                          1,772,231,632.25
    Contract assets
    Assets held for sale
    Non-current assets due within one year
    Other current assets                                            3,480,070.93                              4,110,429.16
 Total current assets                                          11,671,073,205.58                         11,583,392,076.09
 Non-current assets:
    Loans and advances


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                                                Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


   Debt investment
   Other debt investment
   Long-term account receivable
   Long-term equity investment                   6,496,917.82                           5,405,129.91
   Investment in other equity instruments        2,116,023.22                           2,116,023.22
   Other non-current financial assets
   Investment real estate                       51,212,047.26                          11,085,896.07
   Fixed assets                              1,336,617,833.24                       1,179,306,020.01
   Projects under construction                 567,324,203.29                         454,643,364.82
   Productive biological assets
   Oil and gas assets
   Right-of-use assets                         23,656,046.31                           29,902,954.22
   Intangible assets                          223,014,127.81                          229,391,803.26
   Development expenses
   Goodwill                                     80,589,565.84                          80,589,565.84
   Long-term deferred expenses                   5,226,421.90                           5,385,436.20
   Deferred income tax assets                  334,340,529.77                         286,348,037.04
   Other non-current assets                     97,993,213.33                          38,468,874.44
Total non-current assets                     2,728,586,929.79                       2,322,643,105.03
Total assets                                14,399,660,135.37                      13,906,035,181.12
Current liabilities:
   Short-term loans                             66,140,464.48                          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 payable                               800,307,846.19                         962,665,463.99
   Accounts payable                          2,250,346,882.10                       2,181,900,261.00
   Advance receipts
   Contract liabilities                       860,905,500.04                        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
   Payroll payable                             72,400,044.92                          165,177,425.08
   Taxes payable                              273,291,844.65                          212,202,393.54
   Other payables                             270,923,054.62                          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 one
                                                 5,183,639.41                           5,387,591.43
year
   Other current liabilities                   111,842,706.15                         124,284,081.56
Total current liabilities                    4,711,341,982.56                       4,975,797,489.42
Non-current liabilities:
   Reserves for insurance contracts
   Long-term loans
   Bonds payable
      Including: Preferred shares
              Perpetual bonds
   Lease liabilities                            20,196,019.79                          26,177,034.29

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                                                                      Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


   Long-term accounts payable
   Long-term payroll payable
   Estimated liabilities
   Deferred income                                                   123,193,962.13                          131,747,378.42
   Deferred income tax liabilities                                     9,356,188.87                            6,254,762.76
   Other non-current liabilities
 Total non-current liabilities                                       152,746,170.79                          164,179,175.47
 Total liabilities                                                 4,864,088,153.35                        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                                                   412,491,991.47                          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                                           7,860,203,849.71                        7,098,721,555.37
 Total owners’ equity attributable to
                                                                   9,396,082,926.93                        8,627,026,739.27
 parent company
   Minority interests                                                139,489,055.09                          139,031,776.96
 Total owner’s equity                                             9,535,571,982.02                        8,766,058,516.23
 Total liabilities and owners’ equity                            14,399,660,135.37                       13,906,035,181.12


Legal representative: Ren Jianhua          Person in charge of accounting: Zhang Guofu
Head of the accounting department: Zhang Guofu


2. 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                                        7,236,962,805.27                         7,070,851,819.18
    Including: Operating income                                   7,236,962,805.27                         7,070,851,819.18
            Interest income
            Earned premium
            Fee and commission income
 II. Total operating costs                                         5,965,479,924.57                        5,554,983,345.32
    Including: Operating costs                                     3,573,210,065.74                        3,210,473,182.28
           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                                       42,859,193.20                           50,227,331.81
           Selling expenses                                        1,915,765,604.19                        1,934,679,096.44
           Overhead costs                                            294,475,343.69                          241,171,206.79

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                                                   Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


            R&D expenses                         262,231,594.46                          232,277,748.19
            Financial expenses                  -123,061,876.71                         -113,845,220.19
               Including: Interest expenses         1,864,718.80                           2,864,994.32
                           Interest income       117,507,053.77                          118,558,363.39
  Add: other incomes                             118,257,023.22                           63,739,955.94
          Investment income (“-” for
                                                   51,502,591.29                          60,694,501.06
losses)
              Including: Income from
investment in joint ventures and                   -3,048,212.09                           1,325,050.76
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
                                                  -12,024,378.87                         -43,868,939.26
(“-” for losses)
           Losses from asset impairment
                                                   24,056,013.60
(“-” for losses)
           Gains on disposal of assets (“-”
                                                      -90,580.30                          -1,917,639.76
for losses)
III. Operating profits (“-” for losses)       1,453,183,549.64                       1,594,516,351.84
    Add: non-operating income                       2,827,736.31                           1,545,434.70
    Less: non-operating expenditure                 1,949,873.23                           1,806,988.33
IV. Total profits (“-” for total losses)      1,454,061,412.72                       1,594,254,798.21
    Less: income tax expenses                     221,274,382.25                         236,336,437.30
V. Net profits (“-” for net losses)           1,232,787,030.47                       1,357,918,360.91
     (I) By operational sustainability
        1. Net profits from continuing
                                                1,232,787,030.47                       1,357,918,360.91
operations (“-” for net losses)
        2. Net profits from discontinued
operations (“-” for net losses)
    (II) By ownership
        1. Net profits attributable to the
shareholders of parent company (“-” for       1,233,529,752.34                       1,342,461,093.93
net losses)
        2. Minority shareholders' gains and
                                                     -742,721.87                          15,457,266.98
losses (“-” for net 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 to gains or


                                                                                                      8
                                                                      Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


 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                                   1,232,787,030.47                            1,357,918,360.91
    (I) Total comprehensive income
 attributable to the owners of parent                              1,233,529,752.34                            1,342,461,093.93
 company
     (II) Total comprehensive income
                                                                        -742,721.87                               15,457,266.98
 attributable to minority shareholders
 VIII. Earnings per share (EPS):
    (I) Basic EPS                                                               1.30                                      1.42
    (II) Diluted EPS                                                            1.30                                      1.42


Legal representative: Ren Jianhua                                Person in charge of accounting: Zhang Guofu
Head of the accounting department: Zhang Guofu


3. Consolidated cash flow 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. Cash flow from operating activities:
    Cash received for the sale of goods
                                                                   8,031,812,929.93                            7,324,508,658.96
 and rendering of 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 borrowings from
 other financial institutions
      Cash received from receiving
 insurance premium of the original

                                                                                                                              9
                                               Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


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                             38,162,435.78                          10,979,888.36
  Cash received related to other
                                             265,142,174.84                          201,223,220.26
operating activities
Subtotal of cash inflow from the
                                            8,335,117,540.55                       7,536,711,767.58
operating activities
  Cash paid for purchased products and
                                            3,938,478,765.23                       3,622,856,682.21
received 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
                                             735,694,008.12                          845,300,418.79
employees
   Cash paid for taxes                       629,048,914.31                          416,514,502.07
   Cash paid related to other operating
                                            1,854,665,146.35                       1,450,115,667.31
activities
Subtotal of cash outflow from operating
                                            7,157,886,834.01                       6,334,787,270.38
activities
Net cash flow from operating activities     1,177,230,706.54                       1,201,924,497.20
II. Cash flow from investing activities:
   Cash received from return of
                                            1,617,712,500.00                       1,915,000,000.00
investments
   Cash received from return on
                                               55,713,731.22                          60,399,512.45
investments
   Net cash received from the disposal of
fixed assets, intangible assets and other       1,031,370.40                           2,553,081.90
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 investment
                                            1,674,457,601.62                       1,977,952,594.35
activities
  Cash paid for purchase and
                                             386,052,885.51                          279,588,832.92
construction of fixed assets, intangible

                                                                                                 10
                                                                 Q3 2022 Report of Hangzhou Robam Appliances Co., Ltd.


 assets and other long-term assets
   Cash paid for investments                                  1,429,500,000.00                       1,662,000,000.00
   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 investment
                                                              1,815,552,885.51                       1,941,588,832.92
 activities
 Net cash flow from investment activities                      -141,095,283.89                          36,363,761.43
 III. Cash flow from financing activities:
    Cash from acquiring investments                              11,000,000.00                             850,000.00
       Including: Cash received by
 subsidiaries from investments of                                11,000,000.00                             850,000.00
 minority shareholders
    Cash from acquiring debts                                    66,000,000.00
    Other cashes received in relation to
                                                                  1,012,732.06                           8,068,758.07
 financing activities
 Subtotal of cash inflow from financing
                                                                 78,012,732.06                           8,918,758.07
 activities
   Cash paid for repayments of debts                             23,500,000.00
    Cash paid for distribution of
                                                               481,842,468.46                          495,485,158.00
 dividends, profits or interest expenses
       Including: Dividends or profits paid
                                                                  9,555,200.00
 by subsidiaries to minority shareholders
    Other cashes paid in relation to
                                                                  9,152,571.47                         199,995,742.59
 financing activities
 Subtotal of cash outflow from financing
                                                               514,495,039.93                          695,480,900.59
 activities
 Net cash flow from financing activities                       -436,482,307.87                        -686,562,142.52
 IV. Effect of change in exchange rate on
                                                                  6,795,553.67                            -101,137.11
 cash and cash equivalents
 V. Net increase in cash and cash
                                                               606,448,668.45                          551,624,979.00
 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
                                                              4,326,437,488.80                       4,437,721,492.56
 equivalents


(III) Audit Report

Whether the Q3 report has been audited?
□ Yes  No

The Q3 report of the Company has not been audited.




                                                     Board of Directors of Hangzhou Robam Appliances Co., Ltd.
                                                                                                  October 25, 2022




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