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青岛海尔:2017年第三季度报告(英文版) 下载公告
公告日期:2017-12-07
Third Quarterly Report of 2017
                          Qingdao Haier Co., Ltd.
 Stock Code: 600690                                     Short Name: Qingdao Haier
Third Quarterly Report of
         2017
 Qingdao Haier Co., Ltd
                      Stock Code: 600690
                                                INTELLIGENCE
                                             CREATES SMART LIFE
                                   1 / 34
                                                Third Quarterly Report of 2017
                                                   Qingdao Haier Co., Ltd.
                                                    Contents
I.     Important Notice ......................................................................................................................... 3
II.    Company Profile ......................................................................................................................... 3
III.   Important Events ......................................................................................................................... 8
IV.    Appendix .....................................................................................................................................18
                                                                   2 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
I.    Important Notice
1.1    The Board of Directors, the Board of Supervisors and directors, supervisors and senior
      management of Qingdao Haier Co., Ltd. (the “Company”) hereby assure that the content set out in
      the quarterly report is true, accurate and complete, and free from any false record, misleading
      representation or material omission, and are individually and collectively responsible for the
      content set out therein.
1.2    All directors of the Company have attended the Board meeting to consider and approve the
      quarterly report.
1.3     Liang Haishan (legal representative of the Company), Gong Wei (chief financial officer of the
      Company) and Ying Ke (the person in charge of accounting department) hereby certify that the
      financial statement set out in the quarterly report is true, accurate and complete.
1.4    Third quarterly report of the Company has not been audited.
II.   Company Profile
2.1    Major financial information
                                                                                      Unit and Currency: RMB
                                                            At the end of last year              Increase/dec
                                                                                                  rease at the
                                                                                                   end of the
                                                                                                   reporting
                      As at the end of the
                                                                                                     period
                       reporting period         After adjustment           Before adjustment
                                                                                                   compared
                                                                                                 with the end
                                                                                                  of last year
                                                                                                      (%)
Total assets          144,448,659,020.58       131,469,157,348.79         131,255,290,325.24             9.87
Net assets
attributable to         30,205,038,353.20       26,438,188,226.56           26,364,725,409.83           14.25
shareholders of
                                                   3 / 34
                                     Third Quarterly Report of 2017
                                        Qingdao Haier Co., Ltd.
listed companies
                                           As at the beginning of last year to the end of   Increase/dec
                                                  the reporting period of last year         rease for the
                    As at the beginning
                                                       (January to September)                  period
                     of the year to the
                                                                                             compared
                    end of the reporting
                                                                                              with the
                           period
                                                                                            correspondi
                        (January to           After adjustment        Before adjustment
                                                                                            ng period of
                        September)
                                                                                              last year
                                                                                                 (%)
Net cash flows
from operating       14,160,052,998.94          4,945,944,554.94        4,934,382,297.60         186.30
activities
                                           As at the beginning of last year to the end of   Increase/dec
                                                  the reporting period of last year         rease for the
                    As at the beginning
                                                       (January to September)                  period
                     of the year to the
                                                                                             compared
                    end of the reporting
                                                                                              with the
                           period
                                                                                            correspondi
                        (January to           After adjustment        Before adjustment
                                                                                            ng period of
                        September)
                                                                                              last year
                                                                                                 (%)
Operating
                    119,189,613,634.20        84,367,342,584.55       84,270,593,385.38            41.27
revenue
Net profits
attributable to
                      5,682,361,717.64          3,826,984,146.82        3,823,106,782.95           48.48
shareholders of
listed companies
Net profits
attributable to
shareholders of
listed companies
                      4,695,336,406.07          3,548,735,043.47        3,548,735,043.47           32.31
with
non-recurring
gain and loss
deducted
Weighted
                                                                                               Increased
average return on                 19.51                     15.76                   15.79
                                                                                                  3.75%
equity (%)
Basic earnings
per share (RMB                    0.932                     0.627                   0.627          48.64
per share)
Diluted earnings
per share (RMB                    0.932                     0.627                   0.627          48.64
per share)
                                                 4 / 34
                                            Third Quarterly Report of 2017
                                               Qingdao Haier Co., Ltd.
Notes:
     1. From January to September 2017, the Company’s revenue increased by 41% compared to the corresponding
period of last year, among which, revenue from refrigerator and freezer business increased by 34%, revenue from washing
machine business increased by 41%, revenue from air conditioner business increased by 61% and revenue from kitchen
products increased by 76%.
     2. From January to September 2017, revenue from the original business of the Company (excluding GEA) increased
by 22%, and net profit attributable to the Parent Company with non-recurring gain and loss deducted increased by 22%.
     3. The domestic market focuses on retail transformation, efficiency optimization and structure upgrading. Revenue
from domestic white appliances increased by 26% from January to September 2017; high-end brand Casarte continues to
grow rapidly with an increase of 41% in the first three quarters, maintaining the absolute leading position in the high-end
market.
     4. The overseas market carries forward multi-brand and “R&D, manufacturing and marketing” integrated layout,
realizing comprehensive development. From January to September 2017, the overall overseas revenue amounted to
RMB50.74 billion, representing 43% of the total revenue, and approximately 100% of the revenue from self-owned brand:
①From January to September 2017, GEA’s contribution to revenue amounted to RMB34.2 billion, contribution to the net
profit attributable to the Parent Company amounted to RMB1.88 billion and contribution to net profits attributable to
shareholders of listed companies with non-recurring gain and loss deducted amounted to RMB1.02 billion. Among which
the third quarter alone recorded revenue of RMB11.7 billion, representing an increase of 7.7% compared with the
corresponding period of last year. ②Revenue from original overseas business (excluding GEA) increased by 20%, among
which revenue from the South-Asian market increased by 49%, revenue from the European market increased by 29%,
revenue from the Middle-Eastern and African market increased by 29% and revenue from the Australian market increased
by 19%.
     5. U+ SmartLife platform focuses on intellectualization and user experience upgrading, accelerating
the pace of product intellectualization, and continuing the iteration of the U+ Home OS system. The sale
of white internet appliances (smart appliances) for the first three quarters amounted to 8.4 million units,
representing an increase of 222%. U+ platform users amounted to 50 million, representing an increase of
102%, compared with the corresponding period of last year.
     6. Carrying forward the construction of COSMOPlat Industrial Internet Platform and promoting the transformation
of digital enterprises, mass customization of appliances amounted to 7.14 million units, representing an increase of 870%.
                                                          5 / 34
                                           Third Quarterly Report of 2017
                                              Qingdao Haier Co., Ltd.
      7. The community economic ecological platform of “Shunguang micro-store, online store, offline store”, achieved
0.61 million Shunguang micro-store owners, 16,000 OTO stores and 20,000 communities on the Platform, with GMV
(Gross Merchandise Volume) amounting to over RMB3 billion from January to September 2017.
Non-recurring Profit or Loss Items and Amount
      √Applicable □ Not Applicable
                                                                                      Unit and Currency: RMB
                                                                                              Amount from the
                                                                        Amount of current     beginning of the
                               Items                                          period       year to the end of the
                                                                        (July-September)       reporting period
                                                                                            (January-September)
Losses and profits from disposal of non-current assets                        3,444,050.08              24,463,313.86
Government grants included in current profit or loss,
except that closely related to the normal operating
business, complied with requirements of the national                       108,768,137.25              226,840,920.22
policies, continued to be granted with the amount and
quantity determined under certain standards
Current net profit or loss of the subsidiaries from the
consolidation of enterprises under common control from                          500,041.82                  500,041.82
the beginning of the period to the date of the mergers
In addition to the effective hedging business related to the
normal operations of the Company, profit or loss of
changes in fair value arising from holding of trading
financial assets and trading financial liabilities, as well as              153,656,077.48             579,570,227.47
investment gain realized from disposal of trading financial
assets, trading financial liabilities and financial assets
available for sale
Other non-operating income and expenses except the
                                                                           223,550,616.45              386,393,769.38
aforementioned items
Minority interests (after tax)                                              -29,605,242.68            -100,022,424.36
Income tax effect                                                          -123,017,318.39            -130,720,536.82
                               Total                                        337,296,362.01             987,025,311.57
2.2    Total number of shareholders, top 10 shareholders and top 10 shareholders holding circulating
      shares (or shareholders not subject to trading restrictions) as of the end of the reporting period
                                                                                                           Unit: Share
Total number of shareholders                                                                                   138,077
                                       Shareholdings of top ten shareholders
                                                         6 / 34
                                      Third Quarterly Report of 2017
                                         Qingdao Haier Co., Ltd.
                                                              Number of         Status of
                                                                 shares          shares
                                 Number of                                                          Nature
                                                                  held          pledged
       Name of                   shares held     Percenta                                             of
                                                                subject         or frozen
 Shareholder (full name)        at the end of     ge (%)                                          shareholde
                                                               to selling                   Nu
                                  the period                                                           r
                                                              restriction     Status        mb
                                                                    s                       er
                                                                                                  Domestic
                                                                                                  non-state-
Haier Electric Appliances
                               1,258,684,824         20.64                      Nil                owned
International Co., Ltd.
                                                                                                    legal
                                                                                                    entity
                                                                                                  Domestic
                                                                                                  non-state-
Haier Group Corporation        1,072,610,764         17.59                      Nil                owned
                                                                                                    legal
                                                                                                    entity
                                                                                                   Foreign
KKR HOME
                                 605,985,988           9.94                     Nil                 legal
INVESTMENT S.A R.L.
                                                                                                    entity
Hong Kong Securities                                                                             Unknown
                                 460,096,580           7.55                  Unknown
Clearing Co., Ltd.
China Securities Finance                                                                         Unknown
                                 229,914,866           3.77                  Unknown
Corporation Limited
                                                                                                  Domestic
Qingdao Haier Venture &
                                                                                                  non-state-
Investment Information
                                 172,252,560           2.83                     Nil                owned
Co., Ltd.(青岛海尔创业投
                                                                                                    legal
资咨询有限公司)
                                                                                                    entity
National social security                                                     Unknown             Unknown
                                 106,888,894           1.75
fund, Portfolio 104
GIC PRIVATE LIMITED                77,187,435          1.27                  Unknown             Unknown
Central Huijin Asset                                                         Unknown             Unknown
                                   69,539,900          1.14
Management Ltd.
National social security                                                     Unknown             Unknown
                                   40,027,881          0.66
fund, Portfolio 103
                 Shareholdings of top ten shareholders not subject to selling restrictions
                                                     Number of              Class and number of shares
                                                     shares held
            Name of shareholder                        subject
                                                                             Class               Number
                                                    to no selling
                                                     restrictions
                                                   7 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
Haier Electric Appliances International Co.,                                                1,258,684,824
                                                     1,258,684,824      RMB ordinary
Ltd.
Haier Group Corporation                              1,072,610,764      RMB ordinary        1,072,610,764
KKR HOME INVESTMENT S.A R.L.                           605,985,988      RMB ordinary          605,985,988
Hong Kong Securities Clearing Co., Ltd.                460,096,580      RMB ordinary          460,096,580
China Securities Finance Corporation                                    RMB ordinary          229,914,866
                                                       229,914,866
Limited
Qingdao Haier Venture & Investment                                      RMB ordinary          172,252,560
Information Co., Ltd.(青岛海尔创业投资咨               172,252,560
询有限公司)
National social security fund, Portfolio 104           106,888,894      RMB ordinary          106,888,894
GIC PRIVATE LIMITED                                     77,187,435      RMB ordinary            77,187,435
Central Huijin Asset Management Ltd.                    69,539,900      RMB ordinary            69,539,900
National social security fund, Portfolio 103            40,027,881      RMB ordinary            40,027,881
                                             (1) Haier Electric Appliances International Co., Ltd. is a
                                             holding subsidiary of Haier Group Corporation. Haier
                                             Group Corporation holds 51.20% of its equity. Qingdao
Related-parties or parties acting in concert Haier Venture & Investment Information Co., Ltd.(青岛
among the aforesaid shareholders             海尔创业投资咨询有限公司) is a party acting in
                                             concert with Haier Group Corporation;
                                             (2) The Company is not aware of the existence of any
                                             connections of other shareholders.
Description of preferential shareholders with
restoration of voting rights and their           N/A
shareholdings
2.3    Total number of preferential shareholders, top ten preferential shareholders and top ten holders of
      preference shares not subject to trading moratorium as of the end of the reporting period
      □Applicable √ Not Applicable
III. Important Events
3.1    The major changes and reasons for the items of accounting statement and financial indicators
      √Applicable □Not Applicable
      1)   Monetary capital increased by 36.38% as compared with the beginning of the period, which
was mainly due to the fact that the net cash flows from operating activities in the period has increased;
                                                   8 / 34
                                      Third Quarterly Report of 2017
                                         Qingdao Haier Co., Ltd.
     2)   Financial assets measured at fair value and its changes of which included in current profit or
loss decreased by 71.28% as compared with the beginning of the period, which was mainly attributable
to the influence of change in fair value of derivative financial instruments such as forward contracts;
     3)   Interests receivable increased by 46.17% as compared with the beginning of the period, which
was mainly due to the fact that the interests of the financial products which have not yet been received
recognized at the end of the period have increased;
     4)   Dividends receivable decreased by 95.55% as compared with the beginning of the period,
which was mainly attributable to the dividend which had been declared but not yet received from the
joint stock companies;
     5)   Other current assets increased by 31.42% as compared with the beginning of the period, which
was mainly attributable to the addition of financial products for the period;
     6)   Long-term prepaid expenses decreased by 30.40% as compared with the beginning of the
period, which was mainly attributable to the amortization of the current expenses;
     7)   Short-term borrowings decreased by 31.63% as compared with the beginning of the period,
which was mainly attributable to the adjustment from part of short-term borrowings to long-term
borrowings due to the fact that the Company had adjusted the borrowing structure;
     8)   Financial liabilities measured at fair value and changes of which included in current profit and
loss decreased by 52.42% as compared with the beginning of the period, which was mainly attributable
to the change in fair value of derivative financial instruments such as forward contract for the period;
     9)   Interests payable increased by 551.93% as compared with the beginning of the period, which
was mainly attributable to the increase of interests which has been accrued but not yet paid;
     10) Non-current liabilities due within one year decreased by 44.07% as compared with the
beginning of the period, which was mainly due to the conversion of convertible bonds issued in previous
years into shares in the period by subsidiaries of the Company;
     11) Estimated liabilities increased by 39.91% as compared with the beginning of the period, which
was mainly due to the fact that contingent liabilities recognized as the investments with buy-back
conditions which were absorbed by subsidiaries of the Company;
                                                   9 / 34
                                        Third Quarterly Report of 2017
                                           Qingdao Haier Co., Ltd.
     12) Other non-current liabilities decreased by 72.58% as compared with the beginning of the period,
which was mainly attributable to the change in fair value of forward contract due over one year which
was held by the Company in the period;
     13) Treasury stock decreased by 100% as compared with the beginning of the year, which was
mainly attributable to the cancellation of the treasury stock in the period;
     14) Other comprehensive income decreased by 52.69% as compared with the beginning of the
period, which was mainly attributable to the decrease of the share of other comprehensive income which
will be reclassified in profit and loss in the future;
     15) Operating revenue increased by 41.27% as compared with the corresponding period of last
year, which was mainly attributable to the growth of the original business of the Company and the
contribution of GEA;
     16) Operating expense increased by 39.61% as compared with the corresponding period of last
year, which was mainly attributable to the increase of expenses resulting from the growth of sales;
     17) Taxes and surtaxes increased by 112.87% as compared with the corresponding period of last
year, which was mainly attributable to the consolidation of all relevant taxes during the course of
operating activities into the accounting item of taxes and surcharge since 1 May 2016 according to the
CAIKUAI No. [2016]22 Value Added Tax Accounting Treatment Regulations issued by the MOF;
     18) Selling expenses increased by 57.31% as compared with the corresponding period of last year,
which was mainly attributable to the inclusion of selling expenses of GEA (the corresponding period
only included the selling expenses of GEA during the period from 6 June to 30 September 2016);
     19) Financial expenses increased by 266.86% as compared with the corresponding period of last
year, which was mainly attributable to the increase of average balance of borrowings for the period as
compared with the corresponding period of last year;
     20) Loss in assets impairment increased by 37.01% as compared with the corresponding period of
last year, which was mainly attributable to the increase of closing balance of account receivables;
     21) Income from change in fair value increased by 608.13% as compared with the corresponding
period of last year, which was mainly attributable to the change in fair value of derivative financial
instruments such as forward contracts for the period;
                                                     10 / 34
                                        Third Quarterly Report of 2017
                                           Qingdao Haier Co., Ltd.
      22) Other income increased by 100% as compared with the corresponding period of last year,
which was mainly attributable to the implementation of the Accounting Standards for Business
Enterprises No. 16 - Government grants (2017 Revision) at the time as requested by the MOF during the
period;
      23) Non-operating expenses decreased by 57.48% as compared with the corresponding period of
last year, which was mainly attributable to the higher one off expense which was incurred from the
acquisition of GEA in the corresponding period of last year and there was no such factor in the current
period;
      24) Net cash flows from operating activities increased by 186.30% as compared with the
corresponding period of last year, which was mainly due to the increase of revenue for the period and
the strengthening of management of supply chain;
      25) Net cash flows from investing activities increased by 87.64% as compared with the
corresponding period of last year, which was mainly attributable to the higher payment for the
acquisition of GEA in the corresponding period of last year;
      26) Net cash flows from financing activities decreased by 103.06% as compared with the
corresponding period of last year, which was mainly attributable to the substantial debt financing used
for the acquisition of GEA in the corresponding period of last year.
3.2     Note and analysis on the progress of significant events and their impact and solution
      √ Applicable □Not Applicable
      (1) As of the end of the reporting period, the external guarantees of the Company and its
subsidiaries are all guarantees among the Company and its subsidiaries, and the balance of the external
guarantees amounted to RMB23.757 billion, representing 78.7% of the net assets of the Company for the
latest period, and 16.4% of the total assets for the latest period.
      (2) As of the end of the reporting period, the balance of the Company’s exchange transactions of
derivative products amounted to approximately US$2.9 billion.
                                                    11 / 34
                                                                    Third Quarterly Report of 2017
                                                                       Qingdao Haier Co., Ltd.
3.3    The undertakings that have been past due and not been completed during the reporting period.
      □Applicable √Not applicable
      During the reporting period, the Company has no undertakings that have past due but not performed.
      The undertakings made by the actual controlling shareholders, shareholders, related parties, purchasers and the Company and others during or up to the
reporting period are as follows:
                                                                                                                                                               Whether
                                                                                                                                                                  it is
                                                                                                                                                Whether it
                                                                                                                                                              performed
                                                                                                                                 Time and          has a
      Background              Type         Covenanter                                     Content                                                                 in a
                                                                                                                                   term        deadline for
                                                                                                                                                                timely
                                                                                                                                               performance
                                                                                                                                                              and strict
                                                                                                                                                                  way
                                                         During the period from September 2006 to May 2007, the
                                                         Company issued shares to Haier Group Corporation (“Haier
                                                         Group”) to purchase the controlling equity in its four subsidiaries,
                                                         namely Qingdao Haier Air-Conditioner Electronics Co., Ltd. (青
                                                         岛海尔空调电子有限公司), Hefei Haier Air-conditioning Co.,
                          Eliminate the                                                                                               Septem
Undertaking related to                     Haier         Limited (合肥海尔空调器有限公司), Wuhan Haier Electronics
                          property right                                                                                              ber
  significant    assets                    Group         Co., Ltd. ( 武 汉 海 尔 电 器 股 份 有 限 公 司 ), Guizhou Haier                         YES           YES
                          defects     in                                                                                              2006,
  reorganization                           Corporation   Electronics Co., Ltd. (贵州海尔电器有限公司). With regard to
                          land and etc.                                                                                               long
                                                         the land and property required in the operation of Qingdao Haier
                                                                                                                                      term
                                                         Air-Conditioner Electronics Co., Ltd. (青岛海尔空调电子有限公
                                                         司) , Hefei Haier Air-conditioning Co., Limited (合肥海尔空调器
                                                         有限公司), Wuhan Haier Electronics Co., Ltd. (武汉海尔电器股
                                                         份 有 限 公 司 ) (the “Covenantees”), Haier Group made an
                                                                                12 / 34
                                                                   Third Quarterly Report of 2017
                                                                      Qingdao Haier Co., Ltd.
                                                        undertaking (the “2006 Undertaking”). According to the content of
                                                        2006 Undertaking and current condition of each Covenantee,
                                                        Haier Group will constantly assure that Covenantees will lease the
                                                        land and property owned by Haier Group for free. Haier Group
                                                        will make compensation in the event that the Covenantees suffer
                                                        loss due to the unavailability of such land and property.
                                                        Haier Group Corporation undertakes that it will assure Qingdao
                                                        Haier and its subsidiaries of the constant, stable and unobstructed
                                                        use of the leased property. In the event that Qingdao Haier or any
                                                        of its subsidiaries suffers any economic loss due to the fact that
                                                        leased property has no relevant ownership certificate, Haier Group
                                                        Corporation will make compensation to impaired party in a timely
                                                        and sufficient way and take all reasonable and practicable
                                                        measures to support the impaired party to recover to normal
                                                        operation before the occurrence of loss. Upon the expiration of
                         Eliminate the
                                          Haier         relevant leasing period, Haier Group Corporation will grant or take
Undertaking related to   property right                                                                                       December
                                          Group         practicable measures to assure Qingdao Haier and its subsidiaries                  YES   YES
  refinancing            defects     in                                                                                       2013, long
                                          Corporation   of priority to continue to lease the property at a price not higher
                         land and etc.                                                                                        term
                                                        than the rent in comparable market at that time. Haier Group
                                                        Corporation will assure Qingdao Haier and its subsidiaries of the
                                                        constant, stable, free and unobstructed use of self-built property
                                                        and land of the Group. In the event that Qingdao Haier or any of
                                                        its subsidiaries fails to continue to use self-built property
                                                        according to its own will or in original way due to the fact that
                                                        self-built property has no relevant ownership certificate, Haier
                                                        Group Corporation will take all reasonable and practicable
                                                        measures to eliminate obstruction and impact, or will support
                                                                               13 / 34
                                                                  Third Quarterly Report of 2017
                                                                     Qingdao Haier Co., Ltd.
                                                       Qingdao Haier or its affected subsidiary to obtain alternative
                                                       property as soon as possible, if Haier Group Corporation
                                                       anticipates it is unable to cope with or eliminate the external
                                                       obstruction and impact with its reasonable effort. For details,
                                                       please refer to the Announcement of Qingdao Haier Co., Ltd. on
                                                       the Formation, Current Situation of the Defective Property, the
                                                       Influence on Operation of Issuer Caused by Uncertainty of
                                                       Ownership, Solution for the Defect and Guarantee Measures (L
                                                       2014-005) published by the Company on the four major securities
                                                       newspapers and the website of Shanghai Stock Exchange on 29
                                                       March 2014.
                                                       The Company undertakes that it will eliminate the property defects
                                                       of the Company and main subsidiaries within five years with
                                                       reasonable business effort since 24 December 2013, so as to
                                                       achieve the legality and compliance of the Company and main
                         Eliminate the                 subsidiaries in terms of land and property. For details, please refer   24
                                          Qingdao
                         property right                to the Announcement of Qingdao Haier Co., Ltd. on the                   December
                                          Haier Co.,                                                                                        YES   YES
                         defects in                    Formation, Current Situation of the Defective Property, the             2013, five
                                          Ltd.
                         land and etc.                 Influence on Operation of Issuer Caused by Uncertainty of               years
                                                       Ownership, Solution for the Defect and Guarantee Measures (L
                                                       2014-005) published by the Company on the four major securities
                                                       newspapers and the website of Shanghai Stock Exchange on 29
                                                       March 2014.
                                                       With regard to its Share Option Incentive Scheme, the Company
Undertaking related to                    Qingdao                                                                              11 April
                                                       has undertaken not to provide loan or any other kind of financial
the    share    option   Other            Haier Co.,                                                                           2014, long   YES   YES
                                                       support to incentive object in exercising option under the Share
incentive                                 Ltd.                                                                                 term
                                                       Option Incentive Scheme or purchase of restricted shares,
                                                                              14 / 34
                                                                Third Quarterly Report of 2017
                                                                   Qingdao Haier Co., Ltd.
                                                     including providing guarantee for its loan.
                                                     Inject the assets of Fisher&Paykel to the Company or dispose such
                                                     assets through other ways according to the requirements of the
                                       Haier         domestic supervision before June 2020. For more details, please     May
                        Asset
                                       Group         refer to the Announcement of Qingdao Haier Co., Ltd. on the         2015-June   YES   YES
                        injection
                                       Corporation   Changes of Funding Commitment of Haier Group Corporation (L         2020
                                                     2015-015) published on the four major securities newspapers and
                                                     the website of Shanghai Stock Exchange on 26 May 2015.
                                                     Inject the assets of Haier Photoelectric to the Company or dispose
                                                     such assets through other ways according to the requirements of
                                                     the domestic supervision before June 2020. For more details,
                                       Haier                                                                            December
                        Asset                        please refer to the Announcement of Qingdao Haier Co., Ltd. on
                                       Group                                                                            2015-June    YES   YES
Other    undertakings     injection                  the Changes of Funding Commitment of Haier Group Corporation
                                       Corporation
made to the medium                                   (L 2015-063) published on the four major securities newspapers
and          minority                                and the website of Shanghai Stock Exchange on 23 December
shareholders                                         2015.
                                                     In December 2015 and January 2016, the meeting of the Board of
                                                     Directors and general meeting of the shareholders considered and
                                                     approved the matters in relation to the acquisition of minority
                                                     equity interest of Mitsubishi Heavy Industries Haier and Carrier
                                                                                                                         December
                        Profit         Haier         Refrigeration Equipment held by Haier Group. The Company
                                                                                                                         2015-
                        forecast and   Group         signed the Profit Compensation Agreement with Haier Group to                    YES   YES
                                                                                                                         December
                        compensation   Corporation   forecast the profits achieved by the aforementioned two companies
                                                     in 2015 - 2018. If the profits are not reached during the
                                                     commitment period, the difference part will be made up to the
                                                     Company by Haier Group in cash. For more details, please refer to
                                                     the Announcement of Qingdao Haier Co., Ltd. on the Acquisition
                                                                            15 / 34
           Third Quarterly Report of 2017
              Qingdao Haier Co., Ltd.
of Equity in Sino-foreign Joint Venture Held by Haier Group
Corporation and Related-party Transaction (L 2015-062)
published on the four major securities newspapers and the website
of Shanghai Stock Exchange on 23 December 2015.
                       16 / 34
                                        Third Quarterly Report of 2017
                                           Qingdao Haier Co., Ltd.
3.4    Warning and explanation on reasons for accumulated net profit for the period from the beginning
      of the year to the end of the next reporting period to be at a loss or expected to have material
      change as compared to those of the same period of last year
      Applicable √Not Applicable
                                                                    Name of      Qingdao Haier Co., Ltd.
                                                                   company
                                                                         Legal   Liang Haishan
                                                              representatives
                                                                         Date    30 October 2017
                                                    17 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
IV. Appendix
4.1    Financial Statements
                                       Consolidated Balance Sheet
                                            30 September 2017
Prepared by: Qingdao Haier Co., Ltd.
                                                                                 Unit and Currency: RMB
                                                                                            Unaudited
                      Items                           Closing balance               Opening balance
Current Assets:
  Monetary Capital                                           32,161,405,575.63         23,582,239,011.20
  Clearing settlement funds
  Placements with banks
  Financial assets measured at fair value
and changes of which included in current                        23,099,285.52              80,432,384.17
profit and loss
  Derivative financial assets
  Bills receivables                                          13,613,608,437.38         13,796,561,238.05
  Accounts receivables                                       14,080,769,417.93         12,265,195,443.40
  Prepayments                                                  636,516,972.75             592,510,116.61
  Premiums receivable
  Reinsurance accounts receivables
  Reinsurance contract reserves receivable
  Interests receivables                                        197,782,711.00             135,319,774.41
  Dividends receivables                                           4,524,472.84            101,648,913.10
  Other receivables                                           1,162,772,967.81          1,180,418,052.75
  Financial assets purchased under resale
agreements
  Inventories                                                16,662,708,886.43         15,284,904,331.04
  Assets classified as held for sale
  Non-current assets due within one
  year
  Other current assets                                        3,492,482,010.38          2,657,462,188.89
      Total current assets                                   82,035,670,737.67         69,676,691,453.62
                                                   18 / 34
                                        Third Quarterly Report of 2017
                                           Qingdao Haier Co., Ltd.
Non-current assets:
  Loans and advances granted
  Available-for-sale financial assets                          1,529,297,430.03     1,555,878,717.05
  Held-to-maturity investments
  Long-term receivables
  Long-term equity investments                                12,199,579,035.51    11,057,819,628.14
  Investment properties                                          31,829,109.66         34,600,393.37
  Fixed assets                                                15,467,940,420.30    15,592,013,177.13
  Construction in progress                                     1,938,163,487.98     1,769,875,050.35
  Construction materials
  Disposals of fixed assets                                      55,839,366.07         55,808,808.81
  Biological assets for production
  Fuel assets
  Intangible assets                                            7,005,667,558.19     7,242,818,792.38
  Development expenses                                          964,265,409.64       913,283,796.32
  Goodwill                                                    20,118,185,407.90    21,004,123,145.39
  Long-term amortization expenditures                            80,576,820.58       115,773,592.78
  Deferred income tax assets                                   1,929,302,431.06     1,592,009,404.59
  Other non-current assets                                     1,092,341,805.99      858,461,388.86
     Total non-current assets                                 62,412,988,282.91    61,792,465,895.17
       Total assets                                       144,448,659,020.58      131,469,157,348.79
Current liabilities:
  Short-term borrowings                                       12,418,891,006.63    18,165,531,879.15
  Borrowings from central bank
  Absorbing deposit and deposit in
  inter-bank market
  Placements from banks
  Financial liabilities measured at fair value
and changes of which included in current                           1,113,469.99         2,340,213.20
profit and loss
  Derivative financial liabilities
  Bills payable                                               16,103,545,239.34    12,404,889,760.05
  Accounts payables                                           24,883,347,557.94    20,601,681,120.03
  Payments received in advance                                 5,699,883,655.56     5,737,348,712.97
  Disposal of repurchased financial
  assets
  Handling charges and commissions
payable
  Staff remuneration payable                                   2,034,170,759.85     2,408,525,656.48
  Taxes payable                                                1,821,564,136.55     1,620,588,401.27
  Interests payable                                             199,296,599.98         30,570,328.66
  Dividends payable                                             171,494,413.64       148,690,489.01
                                                    19 / 34
                                        Third Quarterly Report of 2017
                                           Qingdao Haier Co., Ltd.
  Other payables                                              11,188,265,516.60    9,459,636,746.05
  Reinsurance accounts payable
  Deposits for insurance contracts
  Customer deposits for trading in
securities
  Amounts due to issuer for securities
  underwriting
  Liabilities classified as held for sale
  Non-current liabilities due within one                       1,659,225,902.64    2,966,808,509.55
  year
  Other current liabilities                                      12,730,995.55       17,228,645.29
     Total current liabilities                                76,193,529,254.27   73,563,840,461.71
Non-current liabilities:
  Long-term borrowings                                        19,300,470,189.58   15,530,801,311.80
  Debentures payable
  Including: preference Shares
          Perpetual bonds
  Long-term payable                                             113,567,759.83      115,783,382.28
  Long-term payables for staff’s                               892,334,688.34     1,209,218,564.79
remuneration
  Special payable
  Estimated liabilities                                        3,232,008,708.04    2,310,119,430.60
  Deferred income                                               394,639,154.50      342,825,593.35
  Deferred income tax liabilities                               158,956,064.31      133,243,146.68
  Other non-current liabilities                                 159,823,992.08      582,785,069.86
     Total non-current liabilities                            24,251,800,556.68   20,224,776,499.36
       Total liabilities                                  100,445,329,810.95      93,788,616,961.07
Owners’ equity
  Share capital                                                6,097,402,727.00    6,097,630,727.00
  Other equity instruments
  Including: preference shares
          Perpetual bonds
  Capital reserve                                                83,462,866.62      106,798,262.17
  Less: Treasury stock                                                                 1,041,960.00
  Other comprehensive income                                    268,226,696.49      566,987,435.57
  Special reserve
  Surplus reserve                                              2,065,911,217.00    2,074,118,571.01
  General risk provisions
  Undistributed profits                                       21,690,034,846.09   17,593,695,190.81
  Total equity attributable to owners of the                  30,205,038,353.20   26,438,188,226.56
parent company
  Minority interests                                          13,798,290,856.43   11,242,352,161.16
                                                    20 / 34
                                        Third Quarterly Report of 2017
                                           Qingdao Haier Co., Ltd.
  Total owners’ equity                                       44,003,329,209.63        37,680,540,387.72
       Total liabilities and owners’ equities            144,448,659,020.58          131,469,157,348.79
 Legal representative: Liang Haishan          Chief accountant: Gong Wei               Person in charge of
                                accounting department: Ying Ke (应珂)
                                 Balance Sheet of the Parent Company
                                             30 September 2017
Prepared by: Qingdao Haier Co., Ltd.
                                                                                  Unit and Currency: RMB
                                                                                               Unaudited
                      Items                            Closing balance              Opening balance
Current Assets:
  Monetary Capital                                             4,563,406,578.43          3,888,623,400.28
  Financial assets measured at fair value
and changes of which included in current
profit and loss
  Derivative financial assets
  Bills receivables
  Accounts receivables                                          211,862,728.36            265,438,220.39
  Prepayments                                                    40,174,115.51              10,000,000.00
  Interests receivables                                         186,711,026.24              85,452,583.16
  Dividends receivables                                             200,000.00            329,713,897.32
  Other receivables                                              38,971,830.93            322,953,279.90
  Inventories                                                    38,472,023.53              69,799,065.47
  Assets classified as held for sale
  Non-current assets due within one
  year
  Other current assets                                          165,012,831.51              94,935,174.83
    Total current assets                                       5,244,811,134.51          5,066,915,621.35
Non-current assets:
  Available-for-sale financial assets                              5,978,414.52              5,478,235.84
  Held-to-maturity investments
  Long-term receivables                                        8,600,000,000.00          8,600,000,000.00
  Long-term equity investments                                23,068,844,965.51        22,342,078,877.07
  Investment properties
  Fixed assets                                                  122,757,304.80            116,840,195.32
  Construction in progress                                       16,806,600.17              22,611,979.50
  Construction materials
  Disposals of fixed assets
                                                    21 / 34
                                        Third Quarterly Report of 2017
                                           Qingdao Haier Co., Ltd.
  Biological assets for production
  Fuel assets
  Intangible assets                                                7,953,498.86        8,578,922.84
  Development expenses
  Goodwill
  Long-term amortization expenditures
  Deferred income tax assets                                     62,346,256.82       62,346,256.82
  Other non-current assets
     Total non-current assets                                 31,884,687,040.68   31,157,934,467.39
       Total assets                                           37,129,498,175.19   36,224,850,088.74
Current liabilities:
  Short-term borrowings
Financial liabilities measured at fair value
and changes of which included in current
profit and loss
  Derivative financial liabilities
  Bills payable
  Accounts payables                                             302,548,109.26     1,142,008,704.07
  Payments received in advance                                  633,678,127.81     1,844,082,827.50
  Staff remuneration payable                                     33,607,763.18       39,919,748.55
  Taxes payable                                                  12,712,709.52       57,218,867.86
  Interests payable                                              93,254,821.05      117,705,327.18
  Dividends payable
  Other payables                                              25,394,674,517.86   21,170,550,089.69
  Liabilities classified as held for sale
  Non-current liabilities due within one
  year
  Other current liabilities                                      10,402,345.83         4,841,867.91
     Total current liabilities                                26,480,878,394.51   24,376,327,432.76
Non-current liabilities:
  Long-term borrowings
  Debentures payable
  Including: preference shares
          Perpetual bonds
  Long-term payable                                              20,000,000.00       20,000,000.00
  Long-term payables for staff’s
remuneration
  Special payable
  Estimated liabilities
  Deferred income                                                27,700,000.00       17,700,000.00
  Deferred income tax liabilities                                15,644,327.91       15,569,301.11
                                                    22 / 34
                                                  Third Quarterly Report of 2017
                                                     Qingdao Haier Co., Ltd.
      Other non-current liabilities
         Total non-current liabilities                                      63,344,327.91                 53,269,301.11
           Total liabilities                                            26,544,222,722.42             24,429,596,733.87
   Owners’ equity:
      Share capital                                                      6,097,402,727.00              6,097,630,727.00
      Other equity instruments
      Including: preference shares
              Perpetual bonds
      Capital reserve                                                    2,060,812,960.17              2,061,597,739.78
      Less: Treasury stock                                                                                 1,041,960.00
      Other comprehensive income                                            -24,405,467.75               -10,881,603.15
      Special reserve
      Surplus reserve                                                    1,389,846,284.51              1,389,846,284.51
      Undistributed profits                                              1,061,618,948.84              2,258,102,166.73
      Total owners’ equity                                             10,585,275,452.77             11,795,253,354.87
      Total liabilities and owners’ equities                           37,129,498,175.19             36,224,850,088.74
    Legal representative: Liang Haishan         Chief accountant: Gong Wei                    Person in charge of
                                     accounting department: Ying Ke (应珂)
                                             Consolidated Income Statement
                                                January-September 2017
   Prepared by: Qingdao Haier Co., Ltd.
                                                                                             Unit and Currency: RMB
                                                                                                            Unaudited
                                                                                 Amount as at the     Amount as at the
                                                                                  beginning of the     beginning of last
                                                                                 year to the end of   year to the end of
                          Current amount                Prior amount               the reporting        the reporting
    Items
                               (July-September)          (July-September)              period               period
                                                                                (January-Septemb      (January-Septem
                                                                                         er)                 ber)
I. Total operating
                          41,613,863,654.10           35,580,735,659.68        119,189,613,634.20     84,367,342,584.55
revenue
Including: operating
                          41,613,863,654.10           35,580,735,659.68        119,189,613,634.20     84,367,342,584.55
revenue
Interest income
  Insurance
premiums earned
                                                              23 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
Fee and commission
income
II. Total cost of
                        40,468,513,665.59   34,713,999,575.68    113,364,284,425.92      80,118,843,110.38
operations
Including: operating
                        29,397,273,551.20   25,171,204,780.30      83,552,179,384.59     59,846,936,854.72
cost
Interest expenses
Fee and commission
expenses
Insurance withdrawal
payment
Net payment from
indemnity
Net provisions for
insurance contract
Insurance policy
dividend paid
Reinsurance cost
Business taxes and
                          269,212,903.89      117,023,348.43            614,599,237.19     288,720,266.70
surcharge
Selling expenses         8,086,931,744.23    6,671,957,919.30      21,024,447,698.61     13,365,034,255.10
Administrative
                         2,324,987,511.75    2,634,371,111.57       6,948,695,908.26      6,177,453,643.25
expenses
Financial expenses        378,794,177.81      144,920,254.93            990,471,459.74     269,989,263.40
   Loss in assets
                           11,313,776.71       -25,477,838.85           233,890,737.53     170,708,827.21
impairment
   Add: income from
change in fair value
                          114,188,419.25        78,690,919.90           526,252,264.40     -103,567,238.94
(losses are
represented by “-”)
       Investment
income (losses are        318,580,844.17      308,359,351.21            972,423,558.52    1,337,553,151.05
represented by “-”)
Including: investment
income of associates
and joint ventures
Exchange gain (losses
are represented by
“-”)
    Other incomes     191,577,886.70                                264,319,732.74
III. Operating profit
(losses are              1,769,697,138.63    1,253,786,355.11       7,588,324,763.94      5,482,485,386.28
represented by “-”)
                                                   24 / 34
                                          Third Quarterly Report of 2017
                                             Qingdao Haier Co., Ltd.
   Add: non-operating
                             314,205,463.92      129,603,563.04            623,209,532.54     589,928,436.18
income
Including: gain from
disposal of
non-current assets
  Less:
non-operating                 39,369,015.51      234,988,996.29            123,948,038.66     291,472,316.41
expenses
Including: Loss from
disposal of
non-current assets
IV. Total profit (total
losses are represented      2,044,533,587.04    1,148,400,921.86       8,087,586,257.82      5,780,941,506.05
by “-”)
  Less: income tax
                             218,094,249.60      202,370,445.05            976,116,407.83     863,068,827.03
expense
V. Net profit (net
losses are represented      1,826,439,337.44     946,030,476.81        7,111,469,849.99      4,917,872,679.02
by “-”)
   Net profit
attributable to owners      1,255,293,313.13     511,810,975.12        5,682,361,717.64      3,826,984,146.82
of the Company
   Profit or loss
attributable to              571,146,024.31      434,219,501.69        1,429,108,132.35      1,090,888,532.20
minority shareholders
VI. Other
comprehensive               -144,121,187.22      318,820,472.39            -345,254,600.46     -57,829,623.37
income, net of tax
   Other
comprehensive
income attributable to      -130,145,366.38      316,020,122.26            -298,760,739.08     -70,651,292.41
   owners of the
Company, net of tax
     (I) Other
comprehensive
income that will not
be reclassified
subsequently to profit
or loss
1. Changes in net
liabilities or net assets
arising from
re-measurement of
                                                      25 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
defined benefit plans
2. Share of other
comprehensive
income of investees
that cannot be
reclassified to profit
or loss under equity
method
     (II) Other
comprehensive
income to be
                          -130,145,366.38     316,020,122.26            -298,760,739.08    -70,651,292.41
reclassified
subsequently to profit
or loss
1. Share of other
comprehensive
income of investees
that will be
                           40,693,511.60        10,147,015.47            -81,346,664.65    -34,869,817.75
reclassified
subsequently to profit
or loss under equity
method
2. Gain or loss from
change in fair value
                             2,843,778.27       -1,569,310.30               496,754.29    -449,875,102.32
of available-for-sale
financial assets
3. Gain or loss arising
from reclassification
from held-to-maturity
investments to
available-for-sale
financial assets
4. Effective portion of
gain or loss arising
                             4,628,209.01                                 -1,139,401.61
from cash flow
hedging instruments
5. Exchange
differences on
translation of
                          -178,310,865.26     307,442,417.09            -216,771,427.11   414,093,627.66
financial statements
denominated in
foreign currencies
6. Other
                                                   26 / 34
                                          Third Quarterly Report of 2017
                                             Qingdao Haier Co., Ltd.
   Other
comprehensive
income attributable to
                           -13,975,820.84           2,800,350.13           -46,493,861.38        12,821,669.04
   minority
shareholders, net of
tax
VII. Total
comprehensive            1,682,318,150.22       1,264,850,949.20        6,766,215,249.53      4,860,043,055.65
income
   Total
comprehensive
income attributable to   1,125,147,946.75        827,831,097.38         5,383,600,978.56      3,756,332,854.41
the shareholders of
parent company
   Total
comprehensive
income attributable to     557,170,203.47        437,019,851.82         1,382,614,270.97      1,103,710,201.24
the minority
shareholders
VIII . Earnings per
share:
  (I) Basic earnings
per share                            0.206                      0.084              0.932                 0.627
(RMB/share)
  (II) Diluted
earnings per share                   0.206                      0.084              0.932                 0.627
(RMB/share)
    The net profit realized by the acquiree prior to its merger with the Company, which turned the
   acquiree into a jointly controlled entity of the Company, was RMB 500,041.82 during the period.
    Legal representative: Liang Haishan            Chief accountant: Gong Wei               Person in charge of
                                   accounting department: Ying Ke (应珂)
                               Income Statement of the Parent Company
                                        January-September 2017
   Prepared by: Qingdao Haier Co., Ltd.
                                                                                   Unit and Currency: RMB
                                                                                                  Unaudited
                                                      27 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
                                                                                Amount as at       Amount as at
                                                                              the beginning of   the beginning of
                                                                               the year to the          last
                                          Current
                                                              Prior amount          end of        year to the end
                                          amount
                Items                                        (July-Septemb      the reporting          of the
                                       (July-Septemb
                                                                   er)             period            reporting
                                             er)
                                                                              (January-Septe          period
                                                                                    mber)         (January-Septe
                                                                                                       mber)
I. Operating revenue                   885,928,248.69        827,929,968.02   2,429,040,574.34   2,343,801,453.23
   Less: Operation cost                599,578,352.66        599,133,201.64   1,724,678,093.73   1,663,108,069.07
    Taxes and surcharge               8,873,954.31         2,251,251.96     17,998,106.78        8,696,651.40
    Selling expenses                 65,814,107.53        30,872,977.31    150,349,127.54     172,551,891.19
    Administrative expenses        205,554,320.29        202,054,309.20    497,356,040.18     424,068,353.18
    Financial expenses               32,401,366.94        13,315,728.36     77,833,579.73      13,236,150.33
    Loss in assets impairment       -67,084,496.59        -1,722,245.56     -17,843,951.04      -3,616,902.23
     Add: income from change in fair
value (losses are represented by
“-”)
    Investment income (losses
                                       108,081,882.92         56,992,467.02    259,975,650.65     200,457,104.98
are represented by “-”)
       Including: investment
income of associates and joint
ventures
    Other incomes                    17,166,899.75                          17,166,899.75
II. Operating profit (losses are
                                       166,039,426.22         39,017,212.13    255,812,127.82     266,214,345.27
represented by “-”)
   Add: non-operating income              7,140,206.67         5,619,768.40     59,966,161.35      81,560,399.04
       Including: gain from
disposal of non-current assets
   Less: non-operating expenses             852,535.19          891,618.63         861,948.86         911,949.33
       Including: Loss from
disposal of non-current assets
III. Total Profit (losses are
                                       172,327,097.70         43,745,361.90    314,916,340.31     346,862,794.98
represented by “-”)
     Less: income tax expense             9,633,872.86        -1,987,065.76       -756,318.10        5,807,852.78
IV. Net Profit (net losses are
                                       162,693,224.84         45,732,427.66    315,672,658.41     341,054,942.20
represented by “-”)
V. Other comprehensive income,
                                             79,633.31         6,110,062.02     -13,523,864.60     -14,597,453.12
net of tax
  (I) Other comprehensive income
will not be reclassified
subsequently to profit or loss
                                                   28 / 34
                                          Third Quarterly Report of 2017
                                             Qingdao Haier Co., Ltd.
     1. Changes in net liabilities or
net assets arising from
re-measurement of defined benefit
     plans
      2. Share of other
comprehensive income of investees
that cannot be reclassified to profit
or loss under equity method
   (II) Other comprehensive
income to be reclassified                       79,633.31        6,110,062.02   -13,523,864.60    -14,597,453.12
subsequently to profit or loss
     1. Share of other
comprehensive income of investees
that will be reclassified                   14,374,168.36        6,169,709.37      425,151.88         915,175.04
subsequently to profit or loss under
equity method
      2. Gain or loss from change in
fair value of available-for-sale           -14,294,535.05          -59,647.35   -13,949,016.48    -15,512,628.16
financial assets
     3. Gain or loss arising from
reclassification from
held-to-maturity investments to
available-for-sale financial assets
     4. Effective portion of gain or
loss arising from cash flow hedging
instruments
     5. Exchange differences on
translation of financial statements
denominated in foreign currencies
     6. Other
VI. Total comprehensive income            162,772,858.15        51,842,489.68   302,148,793.81    326,457,489.08
VII. Earnings per share:
   (I) Basic earnings per share
(RMB/ share)
    (II) Diluted earnings per share
(RMB/share)
 Legal representative: Liang Haishan               Chief accountant: Gong Wei          Person in charge of
                                      accounting department: Ying Ke (应珂)
                                      Consolidated Cash Flow Statement
                                            January-September 2017
Prepared by: Qingdao Haier Co., Ltd.
                                                      29 / 34
                                        Third Quarterly Report of 2017
                                           Qingdao Haier Co., Ltd.
                                                                                  Unit and Currency: RMB
                                                                                                Unaudited
                                                       Amount as at the              Amount as at the
                                                         beginning of                beginning of last
                     Items                          the year to the end of        year to the end of the
                                                     the reporting period            reporting period
                                                     (January-September)           (January-September)
I. Cash flows from operating activities:
  Cash received from the sale of goods and                139,498,787,397.46            90,110,978,075.44
  rendering of services
  Net increase in customer and interbank
  deposits
  Net increase in borrowing from PBOC
  Net cash increase in borrowing from
  other financial institutes
  Cash received from premiums under
  original insurance contract
  Net cash received from reinsurance
  business
   Net increase in deposits of policy
holders and investment
  Net increase from the disposal of
  financial assets measured at fair value and
  changes of which included in current
profit and loss
  Cash paid for interest, bank charges and
  commissions
  Net increase in cash borrowed
  Net increase in cash received from
  repurchase operation
  Refunds of taxes                                              933,453,763.81             499,360,330.52
  Cash received from other related                              641,640,968.26             671,981,686.17
  operating activities
     Sub-total of cash inflows from                       141,073,882,129.53            91,282,320,092.13
     operating activities
  Cash paid on purchase of goods and                          99,997,320,327.27         64,518,763,975.56
  services
  Net increase in loans and advances
  Net increase in deposits in PBOC and
  interbank
  Cash paid for compensation payments
  under original insurance contract
                                                    30 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
  Cash paid for interest, bank charges and
  commissions
  Cash paid for insurance policy dividend
  Cash paid to and on behalf of employees                    11,219,814,215.75    7,808,375,565.15
  Cash paid for all types of taxes                            5,736,748,757.22    5,149,863,599.32
  Cash paid to other operation related                        9,959,945,830.35    8,859,372,397.16
  activities
      Sub-total of cash outflows from                    126,913,829,130.59      86,336,375,537.19
      operating activities
    Net cash flows from operating                        14,160,052,998.94    4,945,944,554.94
    activities
II. Cash flows from investing activities:
  Cash received from disposal of
                                                                52,073,162.58       580,469,201.21
  investments
    Cash received from return on
                                                               240,271,551.96       132,888,904.12
investments
   Net cash received from the disposal of
   fixed assets, intangible assets and other                    44,493,426.47        26,085,548.94
long term assets
  Net cash received from disposal of
                                                               155,037,270.54
  subsidiaries and other operating entities
  Cash received from other investment
                                                                                      3,693,847.50
  related activities
      Sub-total of cash inflows from
                                                               491,875,411.55       743,137,501.77
      investing activities
  Cash paid on purchase of fixed assets,
  intangible assets and other long term                       2,614,123,880.97    2,050,472,227.16
assets
  Cash paid for investments                                   2,597,591,667.47    1,201,539,611.53
  Net increase in secured loans
   Net cash paid on acquisition of
                                                                88,429,231.46    36,398,588,501.66
   subsidiaries and other operating entities
  Cash paid on other investment related
                                                                                      3,861,165.47
  activities
     Sub-total of cash outflows from
                                                              5,300,144,779.90   39,654,461,505.82
     investing activities
       Net cash flows from investing
                                                             -4,808,269,368.35   -38,911,324,004.05
       activities
III. Cash flows from financing activities:
  Cash received from investment                               1,347,292,085.10       10,839,764.43
  Including: cash received by
  subsidiaries from minority shareholders’
  investment
                                                   31 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
  Cash received from borrowings                              16,802,698,248.06         37,147,302,314.09
  Cash received from issuing bonds
  Cash received from other financing                              1,731,609.42
  related activities
    Sub-total of cash inflows from                           18,151,721,942.58         37,158,142,078.52
    financing activities
  Cash paid on repayment of borrowings                       16,985,670,538.25          6,080,035,623.81
  Cash paid on distribution of dividends,                     2,010,741,534.99          1,767,259,255.68
  profits, or interest expenses
  Including: dividend, profit paid to
  minority shareholders by subsidiaries
  Cash paid on other financing activities                       47,799,254.84             168,740,536.91
    Sub-total of cash outflows from                          19,044,211,328.08          8,016,035,416.40
    financing activities
       Net cash flows from financing                           -892,489,385.50         29,142,106,662.12
       activities
IV. Effect of fluctuations in exchange                         -184,484,131.52            -56,520,198.96
rates on cash and cash equivalents
V. Net increase in cash and cash                              8,274,810,113.57         -4,879,792,985.95
equivalents
  Add: balance of cash and cash                              23,510,900,890.49         24,725,880,770.59
  equivalents at the beginning of the period
VI. Balance of cash and cash equivalents                     31,785,711,004.06         19,846,087,784.64
at the end of the period
Legal representative: Liang Haishan            Chief accountant: Gong Wei           Person in charge of
                                                             accounting department: Ying Ke (应珂)
                             Cash Flow Statement of the Parent Company
                                          January-September 2017
Prepared by: Qingdao Haier Co., Ltd.
                                                                                 Unit and Currency: RMB
                                                                                               Unaudited
                                                      Amount as at the             Amount as at the
                                                        beginning of               beginning of last
                     Items                         the year to the end of        year to the end of the
                                                    the reporting period           reporting period
                                                   (January-September)           (January-September)
I. Cash flows from operating activities:
  Cash received from the sale of goods                         427,739,667.35             314,712,571.18
  and rendering of services
  Refunds of taxes                                              55,711,962.27              12,451,222.14
                                                   32 / 34
                                      Third Quarterly Report of 2017
                                         Qingdao Haier Co., Ltd.
  Cash received from other related                             54,115,058.79        46,880,078.85
  operating activities
    Sub-total of cash inflows from                            537,566,688.41       374,043,872.17
    operating activities
  Cash paid on purchase of goods and                        1,452,092,842.51       431,718,199.28
  services
  Cash paid to and on behalf of employees                     564,703,136.34       241,922,703.85
  Cash paid for all types of taxes                            137,011,406.78       116,783,336.85
  Cash paid to other operation related                        321,211,786.90       422,365,565.20
  activities
    Sub-total of cash outflows from                         2,475,019,172.53     1,212,789,805.18
    operating activities
  Net cash flows from operating                             -1,937,452,484.12     -838,745,933.01
  activities
II. Cash flows from investing activities:
  Cash received from disposal of
  investments
   Cash received from return on                               429,548,610.50       249,905,293.86
   investments
   Net cash received from the disposal of
   fixed assets, intangible assets and other
   long term assets
  Net cash received from disposal of
  subsidiaries and other operating entities
  Cash received from other investment
  related activities
    Sub-total of cash inflows from
                                                              429,548,610.50       249,905,293.86
    investing activities
  Cash paid on purchase of fixed assets,
  intangible assets and other long term                        28,348,785.40         8,959,725.03
assets
  Cash paid for investments                                   793,311,762.50    15,748,337,507.50
  Net cash paid on acquisition of
  subsidiaries and other operating entities
  Cash paid on other investment related
  activities
    Sub-total of cash outflows from                           821,660,547.90    15,757,297,232.53
    investing activities
    Net cash flows from investing                        -392,111,937.40    -15,507,391,938.67
    activities
III. Cash flows from financing activities:
  Cash received from investment
  Cash received from borrowings
                                                  33 / 34
                                       Third Quarterly Report of 2017
                                          Qingdao Haier Co., Ltd.
  Cash received from issuing bonds
  Cash received from other financing                         4,517,547,537.12        20,809,717,585.98
  related activities
      Sub-total of cash inflows from                         4,517,547,537.12        20,809,717,585.98
      financing activities
  Cash paid on repayment of borrowings
  Cash paid on distribution of dividends,                    1,512,155,876.29         1,279,850,811.18
  profits, or interest expenses
  Cash paid on other financing activities                        1,041,960.00           139,903,557.84
    Sub-total of cash outflows from                          1,513,197,836.29         1,419,754,369.02
    financing activities
       Net cash flows from financing                         3,004,349,700.83        19,389,963,216.96
       activities
IV. Effect of fluctuations in exchange                              -2,101.16
rates on cash and cash equivalents
V. Net increase in cash and cash                              674,783,178.15          3,043,825,345.28
equivalents
  Add: balance of cash and cash                              3,888,623,400.28           562,827,007.96
  equivalents at the beginning of the period
VI. Balance of cash and cash equivalents                     4,563,406,578.43         3,606,652,353.24
at the end of the period
 Legal representative: Liang Haishan             Chief accountant: Gong Wei         Person in charge of
                                                                accounting department: Ying Ke (应珂)
    4.2 Audit Report
□Applicable √Not Applicable
                                                   34 / 34

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