Third Quarterly Report of 2024 of Midea Group Co., Ltd.
Stock code: 000333 Stock name: Midea Group Announcement No.: 2024-093
Midea Group Co., Ltd.
Third Quarterly Report of 2024
Midea Group Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the
Company’s Board of Directors have warranted that the information given in this Report is true,
accurate and complete, as well as free of any false record, misleading statement or material
omission.
IMPORTANT NOTICE:
1. The board of directors, the supervisory committee, as well as the directors, supervisors
and senior management hereby warrant the truthfulness, accuracy and completeness of this
quarterly report, which does not contain false representations, misleading statements or
material omissions, and jointly and severally accept legal responsibility.
2. The legal representative, the principal in charge of accounting, and the head of the accounting
department, declare that they warrant the truthfulness, accuracy and completeness of the
financial information in this quarterly report.
3. Is the third quarterly report audited
Yes No
1
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
I. KEY FINANCIAL DATA
(I) Major accounting data and financial indicators
Retrospective adjustment to or restatement of the accounting data for prior years by the Company
Yes No
Increase/decrease
Increase/decrease from the beginning
for the Reporting From the of the year to the
Period compared beginning of the end of the
The Reporting
to the year to the end Reporting Period
Period
corresponding of the Reporting compared to the
period of the Period corresponding
prior year period of the
prior year
Operating revenue (RMB’000) 101,700,575 8.05% 318,974,661 9.57%
Net profit attributable to shareholders
10,894,938 14.86% 31,699,114 14.37%
of the Company (RMB’000)
Net profit attributable to shareholders of
the Company before non-recurring 10,195,858 10.96% 30,376,736 13.17%
gains or losses (RMB’000)
Net cash flows from operating
60,263,681 34.56%
activities (RMB’000)
Basic earnings per share
1.56 12.23% 4.58 12.81%
(RMB per share)
Diluted earnings per share
1.56 12.23% 4.57 12.84%
(RMB per share)
Weighted average return on net assets 6.25% -0.02% 18.46% 0.05%
Increase/decrease as at
As at the end of As at the end of the end of the Reporting
the Reporting Period the prior year Period compared to the
end of the prior year
Total assets (RMB’000) 567,150,337 486,038,184 16.69%
Owners’ equity attributable to
shareholders of the Company
(RMB’000) 208,887,776 162,878,825 28.25%
Revenue from the Company’s Smart Home Solutions, Energy Solutions & Industrial Technology,
Intelligent Building Technology, and Robotics & Automation from the beginning of the year
to the end of the Reporting Period amounted to RMB215.4 billion, RMB25.4 billion, RMB22.4
billion and RMB20.8 billion, representing a year-on-year increase of 10%, 19% and 6% and a
year-on-year decrease of 9%, respectively.
2
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
(II) Items and amounts of non-recurring gains or losses
Applicable Not applicable
Unit: RMB’000
Amount from the
beginning of the
Amount for the
Item year to the end of Explanation
Reporting Period
the Reporting
Period
Profit or loss from disposal of non-current assets 142,388 241,605
Except for effective hedging business conducted in the
ordinary course of business of the Group, gain or loss
arising from the change in fair value of held-for-trading
financial assets, derivative financial assets, held-for-trading
financial liabilities, derivative financial liabilities, other
73,618 438,027
non-current financial assets, and investment gains or losses
from disposal of held-for-trading financial assets, derivative
financial assets, held-for-trading financial liabilities,
derivative financial liabilities, other non-current
financial assets
Others (mainly including government grants, reversal of
provision for impairment of receivables subject to
239,989 923,722
individual impairment test, income from claims, income
from fines and other non-operating income and expenses)
Less: Effect of income tax -62,932 304,547
Effect of minority interest (after tax) -180,153 -23,571
Total 699,080 1,322,378
Details of other gain or loss items that fall within the definition of non-recurring gains or losses:
Applicable Not applicable
Explanation on the non-recurring gain or loss items as illustrated in the Explanatory Announcement
on Information Disclosure for Companies Offering Their Securities to the Public No.1 –
Non-recurring Gains or Losses defined as its recurring gain or loss items
Applicable Not applicable
The Company did not have the circumstance that the non-recurring gain or loss items as illustrated
in the Explanatory Announcement on Information Disclosure for Companies Offering Their
Securities to the Public No.1 – Non-recurring Gains or Losses defined as its recurring gain or loss
items.
3
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
(III) Particulars of and reasons for changes in major accounting data and financial indicators
Applicable Not applicable
Unit: RMB’000
Opening balance
of the year
Closing balance
(or accumulated
(or accumulated
Item amount for the Change Reason for the change
amount for the
corresponding
current year)
period of
prior year)
Cash at bank and on hand 160,879,259 81,673,846 96.98% Mainly due to the increase in cash
received from issuance of shares
and net cash flows generated
from operating activities
Financial assets held 6,995,406 1,790,588 290.68% Mainly due to the increase in
for trading structured deposits
Current portion of 30,105,102 10,760,577 179.77% Mainly due to the transfer of
non-current assets other non-current assets
Other current assets 40,576,444 62,900,891 -35.49% Mainly due to the expiration of
constant return financial product
Other debt investments 550,834 6,319,047 -91.28% M a i n l y d u e t o t h e a m o u n t
transferred to current portion of
non-current assets
Long-term receivables 113,180 250,519 -54.82% M a i n l y d u e t o t h e a m o u n t
transferred to current portion of
non-current assets
Other non-current 4,315,797 7,769,938 -44.46% M a i n l y d u e t o t h e a m o u n t
financial assets transferred to financial assets
held for trading
Short-term borrowings 27,939,188 8,819,176 216.80% Mainly due to the increase in
borrowings
Derivative financial liabilities 1,267,698 257,668 391.99% Mainly due to changes in fair
value of derivatives
Current portion of 39,150,654 14,457,710 170.79% Mainly due to the transfer of
non-current liabilities long-term borrowings
Long-term borrowings 10,494,613 46,138,736 -77.25% M a i n l y d u e t o t h e a m o u n t
transferred to current portion of
non-current liabilities
Capital reserve 49,533,518 21,243,156 133.17% Mainly due to the issuance of
shares
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Third Quarterly Report of 2024 of Midea Group Co., Ltd.
Opening balance
of the year
Closing balance
(or accumulated
(or accumulated
Item amount for the Change Reason for the change
amount for the
corresponding
current year)
period of
prior year)
Treasury stock 6,026,463 12,871,738 -53.18% Mainly due to the cancellation of
shares
Other comprehensive income -839,246 -164,202 -411.11% M a i n l y d u e t o c h a n g e s i n
translation differences of foreign
currency financial statements
General risk reserve 1,004,240 642,525 56.30% M a i n l y d u e t o c h a n g e s i n
financial business operations
Interest costs -1,819 -21,818 91.66% M a i n l y d u e t o c h a n g e s i n
financial business operations
Finance income 2,981,829 1,661,650 79.45% Mainly due to the decrease in
interest expenses
Investment income 786,114 505,083 55.64% Mainly due to the increase in
investment income from disposal
of derivative financial assets and
liabilities
Gains/(Losses) on changes 328,536 118,137 178.10% Mainly due to changes in fair
in fair value value of non-current financial
assets
Asset impairment losses -353,658 -172,481 -105.04% Mainly due to the increase in
losses from inventory impairment
Gains/(Losses) on disposal 258,260 -21,985 1274.71% Mainly due to the increase in
of assets gains from disposal of non-
current assets
Non-operating income 353,738 183,740 92.52% Mainly due to the increase in
other income
Net cash flows from 60,263,681 44,787,056 34.56% Mainly due to the increase in
operating activities cash received from sales of goods
and rendering of labor services
Net cash flows from -90,564,488 -33,608,113 -169.47% Mainly due to the increase in
investing activities cash paid for investment
Net cash flows from 19,961,078 -13,409,903 248.85% Mainly due to increase in cash
financing activities received from investments
Net increase in cash and -10,579,630 -2,060,575 -413.43% Mainly due to the decrease in
cash equivalents net cash flows generated from
investing activities
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Third Quarterly Report of 2024 of Midea Group Co., Ltd.
II. INFORMATION ON SHAREHOLDERS
(I) Total number of shareholders of ordinary shares and shareholders of preference shares
with restored voting rights and the shareholding of the top ten shareholders
Unit: share
Total number of shareholders
271,449, of which 271,382
Total number of shareholders of of preference shares with
were holders of A shares,
ordinary shares as at the end of the restored voting right as at 0
and 67 were registered
Reporting Period the end of the Reporting
holders of H shares
Period (if any)
Shareholding of the top ten shareholders
Pledged or
Number of shares frozen shares
Number of
Name of shareholder Nature of shareholder Percentage held subject to selling
shares held Status of
restrictions Number
shares
Domestic non-state-
Midea Holding Co., Ltd. 28.36% 2,169,178,713 – – –
owned legal person
Hong Kong Securities Clearing
Overseas legal person 14.76% 1,129,385,202 – – –
Company Limited
HKSCC NOMINEES LIMITED Overseas legal person 8.51% 650,828,180 – – –
China Securities Finance Domestic non-state-
2.59% 198,145,134 – – –
Corporation Limited owned legal person
Domestic natural
Fang Hongbo ( ) 1.53% 116,990,492 87,742,869 – –
person
Industrial and Commercial Bank of
China Limited – Huatai-PineBridge
Others 1.23% 93,801,083 – – –
CSI 300 Trading Open-ended Index
Securities Investment Fund
Central Huijin Asset State-owned
1.15% 88,260,460 – – –
Management Co., Ltd. legal person
Domestic natural
Huang Jian ( ) 1.13% 86,140,000 – – –
person
China Construction Bank Corporation –
E Fund CSI 300 Trading Open-
Others 0.81% 62,264,445 – – –
ended Index Initiated Securities
Investment Fund
Overseas natural
Li Jianwei ( ) 0.60% 45,591,545 – – –
person
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Third Quarterly Report of 2024 of Midea Group Co., Ltd.
Shareholding of the top ten shareholders of non-restricted shares
Number of shares held not Class of shares
Name of shareholder subject to selling
restrictions Class of shares Number
RMB ordinary
Midea Holding Co., Ltd. 2,169,178,713 2,169,178,713
shares
RMB ordinary
Hong Kong Securities Clearing Company Limited 1,129,385,202 1,129,385,202
shares
Overseas listed
HKSCC NOMINEES LIMITED 650,828,180 650,828,180
foreign shares
RMB ordinary
China Securities Finance Corporation Limited 198,145,134 198,145,134
shares
Industrial and Commercial Bank of China Limited –
RMB ordinary
Huatai-PineBridge CSI 300 Trading Open-ended Index 93,801,083 93,801,083
shares
Securities Investment Fund
RMB ordinary
Central Huijin Asset Management Co., Ltd. 88,260,460 88,260,460
shares
RMB ordinary
Huang Jian ( ) 86,140,000 86,140,000
shares
China Construction Bank Corporation – E Fund
RMB ordinary
CSI 300 Trading Open-ended Index Initiated Securities 62,264,445 62,264,445
shares
Investment Fund
RMB ordinary
Li Jianwei ( ) 45,591,545 45,591,545
shares
Industrial and Commercial Bank of China Limited –
RMB ordinary
Huaxia SSE-SZSW 300 Tradable Open-ended Index 39,385,023 39,385,023
shares
Securities Investment Fund
Explanation on whether the above shareholders are
Not applicable
connected or acting in concert
Participation of top ten ordinary shareholders in
Not applicable
securities of margin trading
Special explanation on whether the top ten
Not applicable
shareholders have repurchased special accounts
Note 1: Hong Kong Securities Clearing Company Limited is the nominee holder of the Company’s SZSE Securities.
Note 2: HKSCC NOMINEES LIMITED is the nominee holder of shares held by non-registered holders of H shares
of the Company.
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Third Quarterly Report of 2024 of Midea Group Co., Ltd.
Information on the shareholders holding more than 5%, the top ten shareholders and the top
ten shareholders not subject to selling restrictions who participate in the margin financing and
securities lending business
Applicable Not applicable
Unit: Share
Information on the shareholders holding more than 5%, the top ten shareholders and the top ten shareholders not subject to
selling restrictions who participate in the margin financing and securities lending business
The outstanding shares
The shareholdings of The outstanding shares lent The shareholdings of
lent through margin
ordinary account and credit through margin financing ordinary account and credit
financing and securities
account at the beginning of and securities lending at account at the end of the
lending at the end of the
Name of shareholder (full name) the year the beginning of the year period
period
Percentage Percentage Percentage Percentage
Total Total Total Total
of total share of total share of total share of total share
number number number number
capital capital capital capital
Industrial and Commercial Bank of
China Limited – Huatai-PineBridge
36,737,633 0.52% 10,100 0.00% 93,801,083 1.23% 0 0%
CSI 300 Trading Open-ended Index
Securities Investment Fund
China Construction Bank
Corporation – E Fund CSI 300
13,740,646 0.20% 68,000 0.00% 62,264,445 0.81% 0 0%
Trading Open-ended Index Initiated
Securities Investment Fund
Industrial and Commercial Bank of
China Limited – Huaxia SSE-SZSW
10,098,623 0.14% 542,200 0.01% 39,385,023 0.51% 0 0%
300 Tradable Open-ended Index
Securities Investment Fund
Change of the top ten shareholders and the top ten shareholders not subject to selling restrictions
compared with previous period due to the refinancing and security lending/return
Applicable Not applicable
(II) Total number of holders of preference shares and particulars of shareholding of the top
ten holders of preference shares of the Company
Applicable Not applicable
III. OTHER MAJOR MATTERS
Applicable Not applicable
8
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
IV. QUARTERLY FINANCIAL STATEMENTS
(I) Financial statements
CONSOLIDATED AND COMPANY BALANCE SHEETS
AS AT 30 SEPTEMBER 2024
Prepared by Midea Group Co. Ltd. Unit: RMB’000
30 September 31 December 30 September 31 December
ASSETS 2024 2023 2024 2023
Consolidated Consolidated Company Company
Current assets:
Cash at bank and on hand 160,879,259 81,673,846 56,521,423 30,260,602
Financial assets held for
trading 6,995,406 1,790,588 4,248,110 299,001
Derivative financial assets 1,316,765 1,278,161 – –
Note receivables 6,482,123 5,521,960 – –
Account receivables 36,924,388 32,884,739 – –
Financing receivables 14,606,052 13,330,008 – –
Prepayments 3,775,316 3,316,194 118,021 81,244
Contract assets 3,588,556 4,045,925 – –
Loan receivables 11,875,168 14,296,958 – –
Other receivables 2,094,415 2,181,878 27,749,891 19,614,359
Inventories 42,773,671 47,339,255 – –
Current portion of
non-current assets 30,105,102 10,760,577 25,626,988 9,363,826
Other current assets 40,576,444 62,900,891 20,130,066 43,712,760
Total current assets 361,992,665 281,320,980 134,394,499 103,331,792
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Third Quarterly Report of 2024 of Midea Group Co., Ltd.
30 September 31 December 30 September 31 December
ASSETS 2024 2023 2024 2023
Consolidated Consolidated Company Company
Non-current assets:
Other debt investments 550,834 6,319,047 529,471 3,334,059
Long-term receivables 113,180 250,519 – –
Loan receivables 513,775 975,272 – –
Long-term equity
investments 5,075,422 4,976,109 108,007,906 75,957,844
Investments in other equity
instruments 37,970 37,874 – –
Other non-current financial
assets 4,315,797 7,769,938 245,627 285,170
Investment properties 1,223,511 1,293,629 375,429 393,988
Fixed assets 32,650,336 30,937,963 2,137,193 1,300,998
Construction in progress 4,852,081 4,681,220 214 749,934
Right-of-use assets 2,857,479 3,048,785 3,539 1,683
Intangible assets 17,665,331 18,457,736 608,639 583,714
Goodwill 30,655,392 30,858,237 – –
Long-term prepaid expenses 1,737,850 1,736,199 68,538 72,745
Deferred tax assets 14,196,378 12,771,150 327,618 289,426
Other non-current assets 88,712,336 80,603,526 74,237,770 71,132,070
Total non-current assets 205,157,672 204,717,204 186,541,944 154,101,631
TOTAL ASSETS 567,150,337 486,038,184 320,936,443 257,433,423
10
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
30 September 31 December 30 September 31 December
LIABILITIES AND 2024 2023 2024 2023
SHAREHOLDERS’ EQUITY
Consolidated Consolidated Company Company
Current liabilities:
Short-term borrowings 27,939,188 8,819,176 – 400,000
Customer deposits and
deposits from banks and
other financial institutions 103,257 88,960 – –
Financial liabilities held for
trading 1,012,469 1,346,674 – –
Derivative financial
liabilities 1,267,698 257,668 101,190 –
Note payables 24,506,498 21,707,608 – –
Account payables 85,045,507 72,530,465 – –
Contract liabilities 37,510,240 41,765,475 – –
Employee benefit payables 7,636,520 9,076,027 122,175 169,349
Tax payables 6,584,885 5,455,102 491,893 411,715
Other payables 3,688,661 4,442,928 217,381,605 170,693,950
Current portion of
non-current liabilities 39,150,654 14,457,710 9,001,436 6,621,910
Other current liabilities 87,594,064 71,297,928 96,185 147,552
Total current liabilities 322,039,641 251,245,721 227,194,484 178,444,476
Non-current liabilities:
Long-term borrowings 10,494,613 46,138,736 7,599,600 16,600,000
Debenture payables 3,161,135 3,217,969 – –
Lease liabilities 1,910,836 2,047,319 1,505 –
Provisions 950,416 782,539 – –
Deferred income 1,778,372 1,734,932 204,289 157,917
Long-term employee benefit
payables 1,389,608 1,433,874 – –
Deferred tax liabilities 5,084,887 5,098,280 – –
Other non-current liabilities 45,135 39,165 – –
Total non-current liabilities 24,815,002 60,492,814 7,805,394 16,757,917
Total liabilities 346,854,643 311,738,535 234,999,878 195,202,393
11
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
30 September 31 December 30 September 31 December
LIABILITIES AND 2024 2023 2024 2023
SHAREHOLDERS’ EQUITY
Consolidated Consolidated Company Company
Equity:
Share capital 7,649,328 7,025,769 7,649,328 7,025,769
Capital reserve 49,533,518 21,243,156 57,787,036 29,479,180
Less: Treasury stock (6,026,463) (12,871,738) (6,026,463) (12,871,738)
Other comprehensive
income (839,246) (164,202) 458 (6,639)
General risk reserve 1,004,240 642,525 – –
Special reserve 18,077 16,040 – –
Surplus reserve 10,702,928 10,702,928 10,702,928 10,702,928
Undistributed profits 146,845,394 136,284,347 15,823,278 27,901,530
Total equity attributable to
shareholders of the
Company 208,887,776 162,878,825 85,936,565 62,231,030
Minority interests 11,407,918 11,420,824 – –
Total equity 220,295,694 174,299,649 85,936,565 62,231,030
TOTAL LIABILITIES AND
EQUITY 567,150,337 486,038,184 320,936,443 257,433,423
Legal representative: Principal in charge of accounting: Head of accounting department:
Fang Hongbo Zhong Zheng Chen Lihong
12
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
CONSOLIDATED AND COMPANY INCOME STATEMENTS
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2024
Prepared by Midea Group Co. Ltd. Unit: RMB’000
For the nine For the nine For the nine For the nine
months ended months ended months ended months ended
Item 30 September 30 September 30 September 30 September
2024 2023 2024 2023
Consolidated Consolidated Company Company
I. Total revenue 320,349,787 292,379,658 643,932 807,741
Including: Operating revenue 318,974,661 291,110,510 643,932 807,741
Interest income 1,374,709 1,268,673 – –
Fee and commission
income 417 475 – –
II. Total operating cost (285,208,763) (260,261,351) (154,715) 343,587
Including: Cost of sales (233,629,908) (215,876,420) (30,676) (30,606)
Interest costs (1,819) (21,818) – –
Fee and commission
expenses (1,683) (2,027) – –
Taxes and surcharges (1,631,930) (1,325,457) (33,292) (25,709)
Selling and marketing
expenses (31,163,032) (25,346,676) – –
General and
administrative
expenses (10,360,728) (9,337,069) (1,206,533) (1,030,915)
Research and
development
expenses (11,401,492) (10,013,534) – –
Finance income 2,981,829 1,661,650 1,115,786 1,430,817
Including: Interest
expenses (1,704,884) (2,285,139) (2,248,307) (2,232,397)
Interest
income 5,461,603 5,113,637 3,355,271 3,671,077
Add: Other income 2,146,307 1,414,310 5,439 30,588
Investment income 786,114 505,083 8,208,135 8,577,756
Including: Share of profit
of associates and joint
ventures, net 680,038 620,966 217,639 178,044
Gains/(Losses) on
changes in fair value 328,536 118,137 (167,100) 87,451
13
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
For the nine For the nine For the nine For the nine
months ended months ended months ended months ended
Item 30 September 30 September 30 September 30 September
2024 2023 2024 2023
Consolidated Consolidated Company Company
Asset impairment losses (353,658) (172,481) – –
(Losses on)/Reversal of
credit impairment (132,559) (181,670) (477) 697
Gains/(Losses) on
disposal of assets 258,260 (21,985) 152,466 (86)
III. Operating profit 38,174,024 33,779,701 8,687,680 9,847,734
Add: Non-operating income 353,738 183,740 31,777 9,555
Less: Non-operating expenses (129,293) (181,097) (944) (371)
IV. Total profit 38,398,469 33,782,344 8,718,513 9,856,918
Less: Income tax expenses (6,247,487) (5,495,255) (20,414) (183,895)
V. Net profit 32,150,982 28,287,089 8,698,099 9,673,023
(I) Classified by continuity of
operations
Net profit from continuing
operations 32,150,982 28,287,089 8,698,099 9,673,023
Net profit from discontinued
operations – – – –
(II) Classified by ownership of the
equity
Attributable to shareholders of
the Company 31,699,114 27,717,481 8,698,099 9,673,023
Minority interests 451,868 569,608 – –
VI. Other comprehensive income,
net of tax (946,255) (543,238) 7,097 7,571
Other comprehensive income
attributable to equity owners of
the Company, net of tax (675,044) (481,090) 7,097 7,571
(I) Other comprehensive income
items which will not be
reclassified subsequently to
profit or loss (7,260) (11,761) – –
1. Changes arising from
remeasurement of defined
benefit plan (7,123) (11,761) – –
2. Changes in fair value of
investments in other equity
instruments (137) – – –
14
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
For the nine For the nine For the nine For the nine
months ended months ended months ended months ended
Item 30 September 30 September 30 September 30 September
2024 2023 2024 2023
Consolidated Consolidated Company Company
(II) Other comprehensive income
items which will be reclassified
subsequently to profit or loss (667,784) (469,329) 7,097 7,571
1. Other comprehensive
income that will be
transferred subsequently
to profit or loss under the
equity method 4,412 17,323 7,097 7,571
2. Cash flow hedging reserve (164,094) (556,111) – –
3. Differences on translation
of foreign currency
financial statements (489,248) 84,630 – –
4. Others (18,854) (15,171) – –
Other comprehensive income
attributable to minority
shareholders, net of tax (271,211) (62,148) – –
VII. Total comprehensive income 31,204,727 27,743,851 8,705,196 9,680,594
Attributable to equity owners of the
Company 31,024,070 27,236,391 8,705,196 9,680,594
Attributable to minority interests 180,657 507,460 – –
VIII. Earnings per share
(I) Basic earnings per share 4.58 4.06 Not applicable Not applicable
(II) Diluted earnings per share 4.57 4.05 Not applicable Not applicable
Legal representative: Principal in charge of accounting: Head of accounting department:
Fang Hongbo Zhong Zheng Chen Lihong
15
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
CONSOLIDATED AND COMPANY CASH FLOW STATEMENTS
FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2024
Prepared by Midea Group Co. Ltd. Unit: RMB’000
For the nine For the nine For the nine For the nine
months ended months ended months ended months ended
Item 30 September 30 September 30 September 30 September
2024 2023 2024 2023
Consolidated Consolidated Company Company
I. Cash flows from operating
activities:
Cash received from sales of
goods or rendering of
services 312,172,422 262,375,345 – –
Net increase in customer
deposits and deposits
from banks and other
financial institutions 14,297 40,860 – –
Net decrease in loan
receivables 2,968,149 480,148 – –
Net decrease in deposits
with the Central Bank – 152,667 – –
Cash received from interest,
fee and commission 1,377,147 1,283,930 – –
Refund of taxes and
surcharges 7,420,552 6,181,899 – –
Cash received relating to
other operating activities 6,909,310 4,963,743 48,288,821 30,456,009
Sub-total of cash inflows 330,861,877 275,478,592 48,288,821 30,456,009
Cash paid for goods and
services (190,839,801) (159,850,989) – –
Net increase in deposits
with the Central Bank (1,624,340) – – –
Cash paid for interest, fee
and commission (3,502) (23,845) – –
Cash paid to and on behalf
of employees (33,807,476) (29,339,923) (401,576) (357,445)
Payments of taxes and
surcharges (14,563,430) (15,180,128) (5,167) (335,458)
Cash paid relating to other
operating activities (29,759,647) (26,296,651) (2,365,679) (1,209,264)
Sub-total of cash outflows (270,598,196) (230,691,536) (2,772,422) (1,902,167)
Net cash flows from
operating activities 60,263,681 44,787,056 45,516,399 28,553,842
16
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
For the nine For the nine For the nine For the nine
months ended months ended months ended months ended
Item 30 September 30 September 30 September 30 September
2024 2023 2024 2023
Consolidated Consolidated Company Company
II. Cash flows from investing
activities:
Cash received from disposal
of investments 71,222,663 87,124,789 48,889,841 60,703,000
Cash received from returns
on investments 2,855,649 4,232,951 3,472,173 11,477,722
Net cash received from
disposal of fixed assets,
intangible assets and
other long-term assets 600,999 119,685 176,301 11
Net cash received from
disposal of subsidiaries
and other business units 40,453 6,000 133,625 18,000
Cash received relating to
other investing activities – 373,816 – –
Sub-total of cash inflows 74,719,764 91,857,241 52,671,940 72,198,733
Cash paid to acquire fixed
assets, intangible assets
and other long-term
assets (5,039,616) (4,143,771) (501,731) (767,476)
Cash paid to acquire
investments (160,021,460) (121,236,767) (107,142,946) (86,102,212)
Cash paid relating to other
investing activities (223,176) (84,816) – –
Sub-total of cash outflows (165,284,252) (125,465,354) (107,644,677) (86,869,688)
Net cash flows from
investing activities (90,564,488) (33,608,113) (54,972,737) (14,670,955)
17
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
For the nine For the nine For the nine For the nine
months ended months ended months ended months ended
Item 30 September 30 September 30 September 30 September
2024 2023 2024 2023
Consolidated Consolidated Company Company
III. Cash flows from financing
activities:
Cash received from capital
injection 34,065,802 2,196,750 34,035,738 2,155,838
Including: Cash received
from capital contributions
by minority shareholders
of subsidiaries 30,064 40,912 – –
Cash received from
borrowings 29,427,446 22,764,632 – 400,000
Cash received relating to
other financing activities – 303,154 – –
Sub-total of cash inflows 63,493,248 25,264,536 34,035,738 2,555,838
Cash repayments of
borrowings (19,827,075) (18,192,653) (7,020,300) (89,900)
Cash payments for interest
expenses and distribution
of dividends or profits (22,300,634) (18,993,135) (23,156,310) (19,504,858)
Including: Cash payments
for dividends or profit
to minority shareholders
of subsidiaries (290,352) (193,050) – –
Cash payments relating to
other financing activities (1,404,461) (1,488,651) (98,647) (262,011)
Sub-total of cash outflows (43,532,170) (38,674,439) (30,275,257) (19,856,769)
Net cash flows from
financing activities 19,961,078 (13,409,903) 3,760,481 (17,300,931)
18
Third Quarterly Report of 2024 of Midea Group Co., Ltd.
For the nine For the nine For the nine For the nine
months ended months ended months ended months ended
Item 30 September 30 September 30 September 30 September
2024 2023 2024 2023
Consolidated Consolidated Company Company
IV. Effect of foreign exchange
rate changes on cash and
cash equivalents (239,901) 170,385 – –
V. Net increase in cash and
cash equivalents (10,579,630) (2,060,575) (5,695,857) (3,418,044)
Add: Cash and cash
equivalents at the
beginning of the period 59,887,260 51,131,968 29,283,158 27,904,229
VI. Cash and cash equivalents
at the end of the period 49,307,630 49,071,393 23,587,301 24,486,185
Legal representative: Principal in charge of accounting: Head of accounting department:
Fang Hongbo Zhong Zheng Chen Lihong
(II) Adjustments to items as at the beginning of the year in the financial statements arising
on the first time adoption of new accounting standards in 2024
Applicable Not applicable
(III) Auditors’ Report
Is the third quarterly report audited
Yes No
The third quarterly report of the Company is unaudited.
The Board of Directors of Midea Group Co., Ltd.
31 October 2024
19