Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
Stock code：002508 Stock name：Robam Appliances Announcement No.：2023-016
Hangzhou Robam Appliances Co., Ltd.
Q1 2023 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
1
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
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) 2,177,271,694.59 2,086,165,521.12 4.37%
Net profit attributable to
shareholders of the listed company 388,734,141.35 367,704,718.16 5.72%
(RMB)
Net profit attributable to
shareholders of the listed company
341,448,848.17 335,557,193.45 1.76%
after deducting non-recurring
gains/losses (RMB)
Net cash flow from operating
181,762,454.94 127,753,283.12 42.28%
activities (RMB)
Basic earnings per share (EPS)
0.41 0.39 5.13%
(RMB/share)
Diluted EPS (RMB/share) 0.41 0.39 5.13%
Weighted average return on net
3.92% 4.17% Decreased by 0.25%
assets
End of the reporting period End of last year Change (%)
Total assets (RMB) 14,886,393,291.48 15,039,825,287.53 -1.02%
Owner's equity attributable to
shareholders of listed company 10,123,300,464.11 9,732,463,766.91 4.02%
(RMB)
(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
-176,917.16
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 business, in
42,061,222.76
line with national policy and enjoyed by quota or ration in accordance with
the unified national standard)
Reversal of impairment provision for accounts receivable subject to separate
15,448,446.01
impairment testing
Other non-operating revenues and expenses except the above items 98,937.78
Less: Affected amount of income tax 9,160,234.74
Affected amount of minority shareholders’ equity (after tax) 986,161.47
Total 47,285,293.18
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
2
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
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 22.58% as compared with that at the beginning of the year, mainly
due to the maturity and payment of commercial paper.
At the end of the reporting period, the long-term equity investment decreased by 28.57% as compared with that at the beginning of the
year, mainly due to the investment losses in joint ventures and affiliated companies.
At the end of the reporting period, right-of-use assets decreased by 19.53% and lease liabilities reduced by 22.17% as compared with
that at the beginning of the year, mainly due to the completion of the payment of lease fees in the current period.
At the end of the reporting period, short-term borrowings increased by 40.88% as compared with that at the beginning of the year,
mainly due to the increase of RMB 15 million in bank borrowings by the subsidiary Kinde.
At the end of the reporting period, taxes payable increased by 33.92% as compared with that at the beginning of the year, mainly due
to the increase in income tax and value added tax.
At the end of the reporting period, the payroll payable decreased by 67.57% 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. Cash flow statement items
During the reporting period, net cash flow from operating activities increased by 42.28% as compared with that during the same
period of the previous year, mainly due to the increase in sales repayment in the current period.
During the reporting period, net cash flow from financing activities increased by 111.17% as compared with that during the same
period of the previous year, mainly due to the increase of RMB 15 million in bank borrowings by the subsidiary Kinde.
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
Total number of preferred shareholders with the
Total number of common shareholders
53,121 voting rights recovered at the end of reporting 0
at the end of the reporting period
period
Shareholding of the top 10 shareholders
Number Pledged, marked or frozen shares
of shares
Shareholdi
Nature of subject to
Name of shareholder ng ratio Number of shares
shareholder sales Status Quantity
(%)
restriction
s
Hangzhou Robam Domestic non-
Industrial Group state-own ed 49.68% 471,510,000.00
Co., Ltd. corporation
Hong Kong
Overseas
Securities Clearing 11.67% 110,727,422.00
corporation
Company Limited
TEMASEK Overseas
1.79% 16,950,061.00
FULLERTON corporation
3
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
ALPHA PTE LTD
Domestic
Shen Guoying 1.29% 12,240,000.00
natural person
National Social
Security Fund 418 Others 0.72% 6,822,706.00
Portfolio
CITIC Securities
Co., Ltd. - Social
Others 0.71% 6,699,366.00
Security Fund 1106
Portfolio
Domestic non-
Hangzhou Jinchuang
state-own ed 0.70% 6,640,085.00
Investment Co., Ltd.
corporation
PICC Property and
Casualty Company
Limited - traditional Others 0.67% 6,358,572.00
- general insurance
products
Hangzhou Domestic non-
Yinchuang state-own ed 0.67% 6,318,000.00
Investment Co., Ltd. corporation
Domestic 4,442,362
Ren Jianhua 0.62% 5,923,150.00
natural person .00
Shareholding of the top 10 shareholders not subject to sales restrictions
Number of shares not subject to sales Type of share
Name of shareholder
restrictions Type of share Quantity
Hangzhou Robam Industrial Group RMB ordinary
471,510,000.00 471,510,000.00
Co., Ltd. shares
Hong Kong Securities Clearing RMB ordinary
110,727,422.00 110,727,422.00
Company Limited shares
TEMASEK FULLERTON ALPHA RMB ordinary
16,950,061.00 16,950,061.00
PTE LTD shares
RMB ordinary
Shen Guoying 12,240,000.00 12,240,000.00
shares
National Social Security Fund 418 RMB ordinary
6,822,706.00 6,822,706.00
Portfolio shares
CITIC Securities Co., Ltd. - Social RMB ordinary
6,699,366.00 6,699,366.00
Security Fund 1106 Portfolio shares
Hangzhou Jinchuang Investment Co., RMB ordinary
6,640,085.00 6,640,085.00
Ltd. shares
PICC Property and Casualty Company
RMB ordinary
Limited - traditional - general 6,358,572.00 6,358,572.00
shares
insurance products
Hangzhou Yinchuang Investment Co., RMB ordinary
6,318,000.00 6,318,000.00
Ltd. shares
Industrial and Commercial Bank of
China Limited - Penghua Quality RMB ordinary
5,787,141.00 5,787,141.00
Preferred Hybrid Securities Investment shares
Fund
Mr. Ren Jianhua is the actual controller of the controlling shareholder
Hangzhou Robam Industrial Group Co., Ltd. and the shareholder
Description of the associated relationship or
Hangzhou Jinchuang Investment Co., Ltd.; and the natural person
consistent actions of the above shareholders
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
N/A
securities margin trading (if any)
4
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
(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, 2023
Unit: RMB
Item Ending balance Beginning balance
Current assets:
Cash and cash equivalents 5,737,166,577.91 5,292,762,670.94
Deposit reservation for balance
Lending funds to banks and other
financial institutions
Financial assets held for trading 2,209,796,337.00 2,511,844,508.00
Derivative financial assets
Notes receivable 682,640,861.08 881,773,341.71
Accounts receivable 1,616,860,067.25 1,689,606,828.94
Accounts receivable financing
Prepayments 173,579,650.69 177,500,353.37
Receivable premium
Reinsurance accounts receivable
Provision of cession receivable
Other receivables 95,371,929.96 80,429,057.84
Including: Interests receivable
Dividends receivable
Redemptory monetary capital for sale
Inventory 1,527,411,635.01 1,610,110,798.10
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 526,356.76 334,348.76
Total current assets 12,043,353,415.66 12,244,361,907.66
Non-current assets:
Loans and advances
Debt investment
Other debt investment
Long-term receivables
Long-term equity investment 6,227,805.58 8,718,505.62
Investment in other equity instruments 2,116,023.22 2,116,023.22
Other non-current financial assets
Investment real estate 61,375,342.15 55,887,198.54
Fixed assets 1,641,667,146.44 1,622,235,227.74
Construction in process 391,705,625.91 406,258,146.69
5
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
Productive biological assets
Oil & gas assets
Right-of-use assets 17,879,722.14 22,220,144.13
Intangible assets 217,982,009.79 221,356,558.38
Development expenses
Goodwill 60,573,832.56 60,573,832.56
Long-term deferred expenses 5,834,322.27 5,852,899.90
Deferred income tax assets 380,344,520.95 340,811,345.96
Other non-current assets 57,333,524.81 49,433,497.13
Total non-current assets 2,843,039,875.82 2,795,463,379.87
Total assets 14,886,393,291.48 15,039,825,287.53
Current liabilities:
Short-term borrowings 72,865,891.92 51,723,429.99
Borrowings from the central bank
Borrowings from banks and other
financial institutions
Financial liabilities held for trading
Derivative financial liabilities
Notes payables 840,386,677.81 872,550,306.86
Accounts payable 2,107,196,027.20 2,418,755,167.31
Advance receipts
Contract liabilities 814,877,464.88 959,915,567.03
Financial assets sold for repurchase
Deposits from customers and
interbank
Receivings from vicariously traded
securities
Receivings from vicariously sold
securities
Payroll payable 49,919,563.11 153,942,329.88
Taxes payable 204,029,124.47 152,351,620.58
Other payables 277,703,667.55 281,878,208.25
Including: Interests payable
Dividends payable
Fees and commissions payable
Dividends payable for reinsurance
Liabilities held for sale
Non-current liabilities due within one
5,671,571.33 5,720,175.21
year
Other current liabilities 106,145,513.51 120,126,501.73
Total current liabilities 4,478,795,501.78 5,016,963,306.84
Non-current liabilities:
Reserves for insurance contracts
Long-term loans
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 14,467,234.35 18,588,966.67
Long-term accounts payable
Long-term payroll payable
Estimated liabilities
Deferred income 124,070,014.96 123,912,110.43
Deferred income tax liabilities 21,750,200.14 22,107,934.58
Other non-current liabilities
Total non-current liabilities 160,287,449.45 164,609,011.68
Total liabilities 4,639,082,951.23 5,181,572,318.52
Owner’s equity:
6
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
Capital stock 949,024,050.00 949,024,050.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital reserve 412,100,221.43 409,997,665.58
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 8,587,813,156.93 8,199,079,015.58
Total owners’ equity attributable to the
10,123,300,464.11 9,732,463,766.91
parent company
Minority shareholders’ equity 124,009,876.14 125,789,202.10
Total owners’ equity 10,247,310,340.25 9,858,252,969.01
Total liabilities and owner’s equity 14,886,393,291.48 15,039,825,287.53
Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu Head of the accounting department: Zhang Guofu
2. Consolidated Income Statement
Unit: RMB
Amount of the previous
Item Amount of the current period
period
I. Total operating income 2,177,271,694.59 2,086,165,521.12
Inc: Operating income 2,177,271,694.59 2,086,165,521.12
Interest income
Earned premium
Fee and commission income
II. Total operating costs 1,792,745,740.21 1,727,936,174.67
Inc: Operating costs 984,337,364.16 989,635,398.35
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 10,857,671.80 13,729,855.74
Sale expenses 672,397,550.12 605,441,361.10
Administrative expenses 90,902,716.15 82,621,074.44
R&D expenses 68,509,891.30 67,446,579.35
Financial expense -34,259,453.32 -30,938,094.31
Including: Interest expenses 897,315.09 338,676.96
Interest income 34,936,516.43 32,910,853.48
Add: other income 46,812,180.81 55,728,815.59
Investment income (“-” for losses) 9,323,093.36 12,688,500.39
Including: Income from investment in joint
-2,490,700.04 -1,084,027.60
ventures and affiliated enterprises
Gains on derecognition of financial
7
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
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
18,167,476.13 4,247,008.89
(“-” for losses)
Losses from asset impairment
(“-” for losses)
Gains on disposal of assets (“-” for losses) -176,472.71 195,068.33
III. Operating profits (“-” for losses) 458,652,231.97 431,088,739.65
Add: non-operating income 1,279,572.02 2,139,106.81
Less: non-operating expenditure 1,181,078.69 1,165,689.57
IV. Total profits (“-” for total losses) 458,750,725.30 432,062,156.89
Less: income tax expenses 71,795,909.91 66,052,657.33
V. Net profits (“-” for net losses) 386,954,815.39 366,009,499.56
(I) By operational sustainability
1. Net profits from continuing operations (“-” for net
386,954,815.39 366,009,499.56
losses)
2. Net profits from discontinued operations (“-” for
net losses)
(II) By ownership
1. Net profits attributable to owners of the parent
388,734,141.35 367,704,718.16
company
2. Minority shareholders’ gains and losses -1,779,325.96 -1,695,218.60
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
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 386,954,815.39 366,009,499.56
Total comprehensive income attributable to owners of
388,734,141.35 367,704,718.16
the parent company
8
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
Total comprehensive income attributable to minority
-1,779,325.96 -1,695,218.60
shareholders
VIII. Earnings per share (EPS):
(I) Basic EPS 0.41 0.39
(II) Diluted EPS 0.41 0.39
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
Amount of the previous
Item Amount of the current period
period
I. Cash flow from operating activities:
Cash received for the sale of goods and rendering of
2,493,570,127.22 2,371,962,551.90
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 4,092,034.40 22,180,694.86
Cash received related to other operating activities 101,227,450.57 89,533,206.38
Subtotal of cash inflow from operating activities 2,598,889,612.19 2,483,676,453.14
Cash paid for purchased products and received labor
1,325,932,721.72 1,358,989,299.28
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 employees 300,052,111.20 290,317,876.62
Cash paid for taxes 179,634,965.49 125,042,444.23
Cash paid related to other operating activities 611,507,358.84 581,573,549.89
Subtotal of cash outflow from operating activities 2,417,127,157.25 2,355,923,170.02
Net cash flow from operating activities 181,762,454.94 127,753,283.12
II. Cash flow from investment activities:
Cash received from return of investments 602,048,171.00 626,300,000.00
Cash received from return on investments 11,850,513.00 14,448,081.14
Net cash received from disposal of fixed assets, 38,460.00 457,000.00
9
Hangzhou Robam Appliances Co., Ltd. Q1 2023 Report
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 investment activities 613,937,144.00 641,205,081.14
Cash paid for purchase and construction of fixed
74,076,410.38 121,336,583.28
assets, intangible assets and other long-term assets
Cash paid for investments 300,000,000.00 657,140,000.00
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 activities 374,076,410.38 778,476,583.28
Net cash flow from investment activities 239,860,733.62 -137,271,502.14
III. Cash flow from financing activities:
Cash from acquiring investments 11,000,000.00
Including: Cash received by subsidiaries from
11,000,000.00
investments of minority shareholders
Cash from acquiring debts 15,000,000.00
Cashes received related to other financing activities 6,482,178.88 1,012,732.06
Subtotal of cash inflow from financing activities 21,482,178.88 12,012,732.06
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 financing activities 704,158.14 2,173,346.92
Subtotal of cash outflow from financing activities 704,158.14 2,173,346.92
Net cash flow from financing activities 20,778,020.74 9,839,385.14
IV. Effect of change in exchange rate on cash and cash
-792,708.11 -205,124.41
equivalents
V. Net increase in cash and cash equivalents 441,608,501.19 116,041.71
Add: Opening balance of cash and cash equivalents 5,196,414,341.74 3,719,988,820.35
VI. Closing balance of cash and cash equivalents 5,638,022,842.93 3,720,104,862.06
(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 26, 2023
10
