Qingdao Haier Co., Ltd
Stock Code: 600690 Short Name: Qingdao Haier
Qingdao Haier Co., LtdThird Quarterly Report of 2018
Note: This Report has been prepared in both Chinese and English. Should there be anydiscrepancies or misunderstandings between the two versions, the Chinese version shallprevail.
Qingdao Haier Co., Ltd
Contents
I. Important Notice..................................................................................................................................3
II. Company Profile ................................................................................................................................ 3
III. Important Events .............................................................................................................................. 11
IV.Appendix ...... 21
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 anyfalse record, misleading representation or material omission, and are individually andcollectively responsible for the content set out therein.
1.2 Information on absent director from meeting
Name of director absent from meeting | Position of director absent from meeting | Reason for the absence of director from meeting | Name of proxy |
Tan Lixia | Director | Business trip | Wu Changqi |
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 This Third Quarterly Report of the Company has not been audited.
II. Company Profile
2.1 Key financial information
Unit and Currency: RMB
As at the end of the reporting period | As at the end of last year | Increase/decrease as at the end of the reporting Period compared with the end of last year(%) | ||
After adjustment | Before adjustment | |||
Total assets | 167,626,386,705.18 | 157,096,764,347.93 | 151,463,110,707.63 | 6.70 |
Net assets attributable to | 35,675,893,674.02 | 33,299,500,785.12 | 32,215,515,201.45 | 7.14 |
Qingdao Haier Co., Ltd
shareholders of the listed Company | ||||
From the beginning of the year to the end of the reporting period (January to September) | From the beginning of last year to the end of the reporting period of last year (January to September) | Increase/decrease compared with the corresponding period of last year (%) | ||
After adjustment | Before adjustment | |||
Net cash flows from operating activities | 11,049,179,807.06 | 14,538,013,259.52 | 14,160,052,998.94 | -24.00 |
From the beginning of the year to the end of the reporting period (January to September) | From the beginning of last year to the end of the reporting period of last year (January to September) | Increase/decrease compared with the corresponding period of last year(%) | ||
After adjustment | Before adjustment | |||
Operating revenue | 138,138,774,411.21 | 122,494,143,062.55 | 119,189,613,634.20 | 12.77 |
Net profit attributable to shareholders of the listed Company | 6,126,787,121.21 | 5,602,801,883.86 | 5,682,361,717.64 | 9.35 |
Net profit after deduction of non-recurring profit or loss attributable to shareholders of the listed Company | 5,522,473,377.30 | 4,695,336,406.07 | 4,695,336,406.07 | 17.62 |
Weighted average return on net assets(%) | 17.42 | 18.93 | 19.51 | decreased by 1.51 percentage points |
Basic earnings per share (RMB per share) | 1.005 | 0.919 | 0.932 | 9.36 |
Diluted earnings per share (RMB per share) | 0.987 | 0.919 | 0.932 | 7.40 |
Qingdao Haier Co., Ltd
Note:
In 2018, the Company focused on the strategic goal of “becoming a leading provider ofsmart home solutions in the era of Internet of Things”. Driven by the Individual and Goal
Combination model, and leveraging on world-class brands cluster and globalized structure,the Company continually promoted retail transformation and global operation, andmaintained product leadership, channel deepening and marketing optimization, so as tostrengthen the leading advantages in the industry. Facing the opportunities in the era ofInternet of Things, the Company will develop new growth points such as ecological incomeby establishing ecological circles, building up eco-brands, promoting mass customizationand iterating the best users experience based on interaction within various communitiesthrough U+ smart life platform, COSMOPlat Smart Manufacturing Industrial InternetPlatform and large Shunguang online and offline community interaction platform.
(1) Domestic market: the Company made great efforts in deepening the establishment ofthe operating system with retail business as the core, implementing the transformation of
“from the sale of products to the sale of solutions, from launching to fermentation, fromoutlets to contact points, from price to value”, and improving structure of product portfolio
and structure of brands to achieve growth under unfavorable environment. As toperformance of each segment, in the first three quarters, revenue from refrigerator business,washing machine business, air-conditioner business, water heater business and kitchen
appliance business increased by 15.9%, 16.2%, 15.7%, 14.5% and 18.9%, respectively. ①During the reporting period, the Company’s market share across the product portfolio has
been increasing. According to the statistics from CMM, the retail sales of Haierrefrigerators, washing machines, air conditioners, water heaters, hoods and stoves increasedby 4.03,3.87,0.49,1.27,0.67,1.07 percentage points respectively from January to September2018 as compared with the same period of last year. Retail sales of refrigerators andwashing machines maintained the leading position in the industry and the leading edgecontinued to grow, with the share of retails sales reaching 35.17% and 33.33%, respectively,
which was 3.13 and 1.87 times of that of the runner-up brand. ② Despite the increasing
downward pressure in the industry in the third quarter, the high-end brand Casartecontinued to maintain its high growth, with the revenue increasing by 49% during the firstthree quarters. Products under Casarte maintained an overwhelming advantage in thehigh-end market. For example, under this brand, the market share of refrigerators pricedabove RMB10,000 reached 36%; the market share of drum washing machines priced above
Qingdao Haier Co., Ltd
RMB10,000 reached 77%; the market share of air conditioners priced above RMB16,000reached 42.7%.
(2) Overseas markets: focusing on localized branding and leadership, continuing to push
ahead with the “triple strategy” for manufacturing, marketing and R&D, strengthening
competitiveness in end-user market, and achieving the transformation to high-end brands.
① In the first three quarters of 2018, the Company maintained rapid growth in the North
American market, with revenue denominated in US dollar growing by 11.83%, while theaccumulated growth of home appliance industry in the U.S. was flat in the first three
quarters. ②Each region focuses on high-end brand building, while enhancing
competitiveness in brands, products and marketing, with the aim of promoting the steadygrowth of business. The South Asian market recorded a growth in revenue of 24%, theEuropean market recorded a growth in revenue of 21%, the Latin American marketrecorded a growth in revenue of 55%, and the Japanese market recorded a growth in
revenue of 10%. ③ In the third quarter of 2018, the Company completed the acquisition of
the home appliance assets and business of Fisher & Paykel in New Zealand, thus achievingleading market position in Oceania: the dual brands of Fisher & Paykel and Haier rankedNo.2 in terms of market share in Australia, and ranked No.1 in terms of that in NewZealand, representing a ratio of over 40%; as to brand, on top of Haier, Casarte, AQUA,
GE Appliance and Leader, the Company acquired Fisher & Paykel, the world’s top
high-end home appliance brand, and continues to expand its portfolio of global brands;Revenue of Fisher& Paykel (dominated in New Zealand Dollar) increased by 7% in thefirst three quarters of 2018, and 12% in the third quarter. In September 2018, the Companyannounced its intention to acquire 100% equity interests in Candy S.p.A, an Italiancompany. The transaction was intended to strengthen the expansion in the European market,improve the product portfolio and the network of local brands, while consolidating thecoverage of different customer groups, and further enhancing the position in the Europeanmarket. Upon the completion of the acquisition, the market share of the Company inEurope will leap to top 5.
Qingdao Haier Co., Ltd
(3) The Company has been committed to creating a smart home community in the era of
Internet of Things to create an ecological platform. ① Strengthening the experience of the
4+7+N smart home solutions (note), iteratively integrating online and offline deliverysystem, while creating a global interconnecting platform, and continuing to upgrade theapplication in AI artificial intelligence scenarios. From January to September 2018, the
amount of activation of the Company’s smart home appliances increased by 85% YoY, the
sales of the comprehensive household appliance solutions increased by 134% YoY, and thenumber of smart home users increased by 23% YoY. The revenue from its IoT ecologicalsystems amounted to RMB2.095 billion, representing a year-on-year growth of over 200%.
In terms of the creation of ecological circle, based on the life scenes of users, Haier’s
Internet of Clothing offer Internet of Things solutions for the whole life-cycle coveringwashing, care, storage, dressing and purchase, while integrating ecological cooperationresources of clothing associations and home textile associations, quickly gathering clothingresources and rapidly copying the innovative model factories, stores and homes; it also
played a leading role in drafting the world’s first IEEE international standard for the
Internet of Clothing; the platform has gathered over 2,400 clothing resources, and theInternet of Clothing achieved an YoY increase of 10 times in ecological revenue in the firstthree quarters of 2018. Building on the leading position in terms of market share, theInternet of Food provided users with Internet of Things health solutions in smart kitchenscenes by way of integrating safe ingredients, health resources and intelligent hardwareresources; the international standards for the Internet of Food, which were submitted to theIEEE, have been approved for further development, and technologies for the Internet of
Food will enter the stage of developing international standards. ② Continue to promote the
construction of the industrial Internet platform of COSMOPlat, and implement the model ofmass customization, with participation of users throughout the process. IEEE, ISO, and IEC,three major international standards-developing bodies, designated the Company to lead thedevelopment of international standards for the model of mass customization and industrialInternet platforms. From January to September 2018, COSMOPlat recorded a revenue ofRMB4.7 billion.
Qingdao Haier Co., Ltd
(4) On 24 October 2018 (Frankfurt time), the Company engaged the initial public offeringof shares on the D share market of China Europe International Exchange, and passed theadmittance of and obtained permission to list on Frankfurt Stock Exchange. The listing
structured the Company’s “A+D” capital market platform home and abroad, and is going toenhance the Company’s brand presence worldwide, as well as support the landing andfurther development of the Company’s global business, especially the business in Europe.
Note: Among the word “ 4+7+N smart home solutions”, “4” refers to the four physical
spaces that Haier continues to upgrade iteratively, namely smart living room, smart kitchen,
smart bathroom and smart bedroom; “7” refers to seven comprehensive household
appliance solutions, i.e. household ventilation, household water usage, household washing& cleaning, household security, household voice appliance, household health and
household information; while “N” is a variable, which represents that the user is able to
customize smart living scenarios in accordance with their life style, achieving infinitediversified possibilities.
Non-recurring Profit or Loss Items and Amount
√Applicable □Not Applicable
Unit and Currency: RMB
Items | Amount for the current period (July-September) | Amount from the beginning of the year to the end of the reporting period (January-September) |
Profit or loss from disposal of non-current assets | 250,930,248.51 | 274,865,109.14 |
Government grants included in current profit or loss, except those closely related to the normal operating business, complying with requirements of the national policies, and continuing to be granted with the amount and quantity determined under certain standards | 212,838,368.85 | 349,985,867.61 |
Current net profit or loss of the subsidiaries from the consolidation of enterprises under common control from the beginning of the period to the date of the mergers | 29,734,856.98 | -43,718,860.91 |
Qingdao Haier Co., Ltd
Profit and loss of changes in fair value arising from holding of trading financial assets and trading financial liabilities except for valid straddle business relevant to normal business of the company, as well as investment gain realized from disposal of trading financial assets, trading financial liabilities and financial assets available for sale | -160,450,980.50 | 32,809,620.71 |
Trustee fee income from entrusted operations | 943,396.22 | |
Other non-operating income and expenses except for the above mentioned | 64,170,893.06 | 234,036,255.74 |
Effect of minority equity interests, net of tax | -34,696,702.01 | -126,558,657.97 |
Income tax effect | -67,563,187.24 | -118,048,986.63 |
Total | 294,963,497.65 | 604,313,743.91 |
2.2 Total number of shareholders, top 10 shareholders and top 10 shareholders holding
circulating shares (or shareholders not subject to selling restrictions) as of the end ofthe reporting period
Unit: share
Total number of shareholders | 175,161 | |||||
Shareholdings of top ten shareholders | ||||||
Name of Shareholder (full name) | Number of shares held at the end of the period | Percentage (%) | Number of shares held with selling restrictions | Status of shares pledged or frozen | Nature of shareholder | |
Status | Number | |||||
Haier Electric Appliances International Co., Ltd. | 1,258,684,824 | 20.64 | Nil | Domestic non-state-owned legal entity | ||
Haier Group Corporation | 1,072,610,764 | 17.59 | Nil | Domestic non-state-owned legal entity | ||
Hong Kong Securities Clearing Co., Ltd. | 444,311,732 | 7.29 | Unknown | Unknown | ||
GIC PRIVATE LIMITED | 269,673,927 | 4.42 | Unknown | Foreign legal entity | ||
China Securities Finance Corporation Limited | 182,312,697 | 2.99 | Unknown | Unknown |
Qingdao Haier Co., Ltd
Qingdao Haier Venture & Investment Information Co., Ltd.(青岛海尔创业 投资咨询有限公司) | 172,252,560 | 2.83 | Nil | Domestic non-state-owned legal entity | |||
KKR HOME INVESTMENT S.A R.L. | 161,116,436 | 2.64 | Unknown | Foreign legal entity | |||
National social security fund, Portfolio 104 | 101,188,812 | 1.66 | Unknown | Unknown | |||
Central Huijin Asset Management Ltd. | 69,539,900 | 1.14 | Unknown | Unknown | |||
National social security fund, Portfolio 103 | 60,604,872 | 0.99 | Unknown | Unknown | |||
Shareholdings of top ten shareholders without selling restrictions | |||||||
Name of shareholder | Number of tradable shares held without selling restrictions | Class and number of shares | |||||
Class | Number | ||||||
Haier Electric Appliances International Co., Ltd. | 1,258,684,824 | RMB ordinary | 1,258,684,824 | ||||
Haier Group Corporation | 1,072,610,764 | RMB ordinary | 1,072,610,764 | ||||
Hong Kong Securities Clearing Co., Ltd. | 444,311,732 | RMB ordinary | 444,311,732 | ||||
GIC PRIVATE LIMITED | 269,673,927 | RMB ordinary | 269,673,927 | ||||
China Securities Finance Corporation Limited | 182,312,697 | RMB ordinary | 182,312,697 | ||||
Qingdao Haier Venture & Investment Information Co., Ltd.(青岛海尔创业投资 咨询有限公司) | 172,252,560 | RMB ordinary | 172,252,560 | ||||
KKR HOME INVESTMENT S.A R.L. | 161,116,436 | RMB ordinary | 161,116,436 | ||||
National social security fund, Portfolio 104 | 101,188,812 | RMB ordinary | 101,188,812 | ||||
Central Huijin Asset Management Ltd. | 69,539,900 | RMB ordinary | 69,539,900 | ||||
National social security fund, Portfolio 103 | 60,604,872 | RMB ordinary | 60,604,872 |
Qingdao Haier Co., Ltd
Related parties or parties acting in concert among the aforesaid shareholders | (1)Both Haier Electric Appliances International Co., Ltd. and Qingdao Haier Venture & Investment Information Co., Ltd.(青岛海尔创业投资咨询有限公司) are holding subsidiaries of Haier Group Corporation; (2) The Company is not aware of the existence of any connections of other shareholders. |
Explanation of preferential shareholders with restoration of voting rights and their shareholdings | N/A |
2.3 Total number of preferential shareholders, top ten preferential shareholders and top
ten holders of preference shares not subject to selling restrictions as of the end of thereporting period
□Applicable √ Not Applicable
III. Important Events3.1 The major changes and reasons for the items of accounting statement and financial
indicators
√Applicable □Not Applicable
1) Derivative financial assets increased by 66.80% as compared with the beginning of the
year, which was mainly due to the impact of changes in fair value of derivativefinancial instruments such as foreign exchange contracts during the period;2) Assets held for sale increased by 4,530.91% as compared with the beginning of the
year, which was mainly due to Haier Electronics, a subsidiary of the Company listed inHong Kong, plans to dispose 58.08% of the equity interests of Shengfeng Logistics
Group Co., Ltd. (herein after referred to as “Shengfeng Logistics”) for business
planning considerations;3) Other current assets increased by 31.12% as compared with the beginning of the year,
which was mainly due to the increase in the wealth management of Haier Electronics, asubsidiary of the Company;4) Construction in progress increased by 116.50% as compared with the beginning of the
year, which was mainly due to the Company expanded its industrial lines’ production
Qingdao Haier Co., Ltd
capacity and upgraded its industrial lines such as smart kitchens and air conditionersduring the period;5) Development expenses decreased by 49.40% as compared with the beginning of the
year, which was mainly due to the relevant development transferred to the intangibleassets when it reached the scheduled usable status during the period;6) Other non-current assets increased by 72.00% as compared with the beginning of the
year, which was mainly due to the amounts prepaid for equipment procurement as a
result of the Company expanded its industrial lines’ production capacity and upgraded
its industrial lines such as smart kitchens and air conditioners during the period;7) Derivative financial liabilities increased by 4,503.98% as compared with the beginning
of the year, which was mainly due to the impact of changes in fair value of derivativefinancial instruments such as foreign exchange contracts during the period;8) Advances from customers decreased by 36.90% as compared with the beginning of the
year, which was mainly due to the centralized delivery taking of goods by customers;9) Liabilities held for sale increased by 100% as compared with the beginning of the year,
which was mainly due to the Company plans to dispose 58.08% of the equity interestsof Shengfeng Logistics for business planning considerations;10) Non-current liabilities due within one year decreased by 54.21% as compared with the
beginning of the year, which was mainly due to the repayment of long-term liabilitiesdue within one year;11) Deferred revenue increased by 30.83% as compared with the beginning of the year,
which was mainly due to the increase in asset-related government grants during theyear;12) Other non-current liabilities increased by 31.80% as compared with the beginning of
the year, which was mainly due to the increase in repurchase obligations for minorityequity interests;13) Capital reserve decreased by 64.31% as compared with the beginning of the year,
which was mainly due to the acquisition at a premium of Enterprise combinationsunder common control is partially written down to the capital reserve;
Qingdao Haier Co., Ltd
14) Other comprehensive income increased by 19,756.96% as compared with the
beginning of the year, which was mainly due to the increase in the share of othercomprehensive income that will be reclassified into profit or loss and the change inforeign currency translation differences;15) The financial expenses decreased by 33.66% as compared with the corresponding
period of last year, which was mainly due to the decrease in exchange losses during theperiod as compared with the corresponding period of last year;16) Investment income increased by 36.21% as compared with the corresponding period of
last year, which was mainly due to the increase in investment income from disposal oflong-term equity investments and derivative financial assets;17) The income from changes in fair value decreased by 116.83% as compared with the
corresponding period of last year, which was mainly due to the influence of change infair value of derivative financial instruments such as forward exchange;18) The profit or loss from asset disposal increased by 690.35% as compared with the
corresponding period of last year, which was mainly due to the disposal of assetsduring the period;19) Non-operating income decreased by 35.70% as compared with the corresponding
period of last year, which was mainly due to the decrease in non-operating income ofGEA, a subsidiary of the Company;20) Non-operating expenses decreased by 37.84% as compared with the corresponding
period of last year, which was mainly due to the scrapping of some fixed assets in thecorresponding period of last year and fewer occurrences for the period.21) Other comprehensive income, net of tax increased by 409.45% as compared with the
corresponding period of last year, which was mainly due to the increase in the share ofother comprehensive income that will be reclassified into profit or loss and the changein foreign currency translation differences;22) Net cash flows from investing activities decreased by 140.16% as compared with the
corresponding period of last year, which was mainly due to the acquisition of assets ofFPA for the period and the increase in expenses on wealth management.
Qingdao Haier Co., Ltd
3.2 Analysis on the progress of significant events and their impacts and solutions
√ Applicable □Not Applicable(1)External Guarantees:As of the end of the reporting period, the external guarantees
of the Company and its subsidiaries are all guarantees among the Company and itssubsidiaries, and the balance of the external guarantees amounted to RMB22.089 billion intotal, representing 61.9% of the net assets of the Company for the latest period, and 13.2%of the total assets for the latest period.
(2)Foreign Exchange Derivatives:As of the end of the reporting period, the balance ofthe Company’s Foreign Exchange Derivatives amounted to approximately US$3.54 billion
in total.
(3)Entrusted Wealth Management:As of the end of the reporting period, the balance of
the company's entrusted wealth management amounted to RMB4.65 billion , which is allconducted by Haier Electronics Group Co., Ltd. (hereinafter referred to as "HaierElectronics", stock code: 01169.HK) ,an holding subsidiary of the Company, HaierElectronics, as an company listed in Hong Kong and operating independently, purchasedsome short-term guaranteed wealth management products and structured deposits fromlarge commercial banks according to its management authority and on the premise ofsecuring the safety of funds, with an aim to improve the utilizing efficiency of idle funds.In the process of conducting the purchases, all necessary procedures such as reporting tothe board and review of each transaction by the management have been fulfilled inaccordance with the laws and regulations in respect of listed companies in Hong Kong, soas to increase the return of the shareholders on condition that the capital required for thedaily operation of the main business is adequate.
(4)Progress on the Acquisition of Major Asset:the Board meeting and General meetingof the Company has reviewed and passed the “Proposal of Qingdao Haier Co., Ltd. on
Acceptance of the Transfer of 100% equity interests of Haier New Zealand Investment
Holding Company Limited and the Related Transactions” (《青岛海尔股份有限公司关于受让Haier New Zealand Investment Holding Company Limited 之100%股权暨关联交易的议案》) in April and June 2018, respectively. The Company intends to settle the
acceptance of the transfer of 100% equity interests of aforementioned company held by
Qingdao Haier Co., Ltd
Haier Group Corporation through an overseas subsidiary in cash payment. As of the end ofthe reporting period, the transaction has been completed and the Company completed theconsolidation of the aforementioned company.
(5)Progress on the issuance of CB by the Company: As of the end of the reportingperiod, the application of public offer of Convertible Bonds ( “CB” ) by the Company has
been approved by the the Issuance Examination Commission of CSRC.
Qingdao Haier Co., Ltd
3.3 The undertakings that have been past due and not been performed 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, the Company and othersunderlying parties during or up to the reporting period are as follows:
Background | Type | Covenanter | Content | Time and term | Whether it has a term for performance | Whether it is performed in a Timely and strict manner |
Undertaking related to significant assets reorganization | Eliminate the property right defects in land and etc. | Haier Group Corporation | 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., 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), Guizhou Haier Electronics Co., Ltd. (贵州海尔电器有限公司). With regard to the land and property required in the operation of Qingdao Haier 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 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. | 27 September 2006, long term | YES | YES |
Qingdao Haier Co., Ltd
Undertaking related to refinancing | Eliminate the property right defects in land and etc. | Haier Group Corporation | 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 relevant leasing period, Haier Group Corporation will grant or take practicable measures to assure Qingdao Haier and its subsidiaries of priority to continue to lease the property at a price not higher 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 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. | 24 December 2013, long term | YES | YES |
Eliminate the propert | Qingdao Haier Co., Ltd. | 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 | 24 December 2013, | YES | YES |
Qingdao Haier Co., Ltd
y right defects in land and etc. | main subsidiaries in terms of land and property. 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 (L2014-005) published by the Company on the four major securities newspapers and the website of Shanghai Stock Exchange on 29 March 2014. | five years | ||||
Other undertakings made to the medium and minority shareholders | Asset injection | Haier Group Corporation | Inject the underlying 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 details, please refer to the Announcement of Qingdao Haier Co., Ltd. on the Changes of Funding Commitment of Haier Group Corporation (L 2015-063) published by the Company on the four major securities newspapers and the website of Shanghai Stock Exchange on 23 December 2015. | December2015-June 2020 | YES | YES |
Profit forecast and compensation | Haier Group Corporation | In December 2015 and January 2016, the Board Meeting and General Meeting of the Company considered and passed the matters in relation to the acquisition of minority equity interest of Mitsubishi Heavy Industries Haier and Carrier Refrigeration Equipment held by Haier Group. The Company signed the Profit Compensation Agreement with Haier Group to forecast the profits to be 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 details, please refer to Announcement of Qingdao Haier Co., Ltd. On the Acquisition of Equity in Sino-foreign Joint Venture Held by Haier Group Corporation and Related Transactions (L 2015-062) published by the Company on the four major securities newspapers and the website of Shanghai Stock Exchange on 23 December 2015. | December 2015- December 2018 | YES | YES | |
Others | Haier Group Corporation | In order to prevent and control the Company's fund risks in an effective and timely manner and ensure the security of the Company's funds, Haier Group hereby (on behalf of itself and other companies held by it or under its actual control) made the | 30 March 2018, long term | YES | YES |
Qingdao Haier Co., Ltd
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 orexpected to have material change as compared to that of the corresponding period oflast year
□ Applicable √Not Applicable
Name of company | Qingdao Haier Co., Ltd. |
Legal representative | Liang Haishan |
Date | 30 October 2018 |
Qingdao Haier Co., Ltd
IV.Appendix
4.1 Financial Statements
Consolidated Balance Sheet
30 September 2018Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | Closing balance | Opening balance |
Current Assets: | ||
Monetary Capital | 35,027,149,528.56 | 35,825,439,039.22 |
Clearing settlement funds | ||
Lendings to banks and other financial institutions | ||
Financial assets measured at fair value and changes of which included in current profit and loss | ||
Derivative financial assets | 34,498,028.36 | 20,681,695.50 |
Bills receivables and accounts receivables | 31,884,581,587.90 | 25,924,283,460.99 |
Including: Bills receivables | 14,414,860,888.22 | 13,033,083,520.99 |
Accounts receivables | 17,469,720,699.68 | 12,891,199,940.00 |
Prepayments | 671,779,770.85 | 628,892,321.35 |
Premiums receivables | ||
Reinsurance accounts receivables | ||
Reinsurance contract reserves receivables | ||
Other receivables | 1,481,075,961.81 | 1,189,441,303.79 |
Including: Interests receivables | 307,997,032.28 | 203,637,543.83 |
Dividends receivables | 4,656,550.08 | 4,524,472.84 |
Financial assets purchased under resale agreements | ||
Inventories | 20,868,860,503.22 | 22,537,617,217.87 |
Assets held for sale | 1,271,367,067.25 | 27,453,950.07 |
Non-current assets due within one year | ||
Other current assets | 5,803,001,328.88 | 4,425,579,572.68 |
Total current assets | 97,042,313,776.83 | 90,579,388,561.47 |
Non-current assets: | ||
Loans and advances granted | ||
Available-for-sale financial assets | 1,585,956,478.46 | 1,415,354,307.82 |
Held-to-maturity investments | ||
Long-term receivables | 248,984,502.12 | 289,785,899.38 |
Qingdao Haier Co., Ltd
Long-term equity investments | 13,466,290,180.03 | 12,987,255,645.28 |
Investment properties | 31,308,410.93 | 31,214,015.99 |
Fixed assets | 16,875,066,174.37 | 17,202,199,462.03 |
Construction in progress | 3,486,907,261.37 | 1,610,615,034.68 |
Biological assets for production | ||
Fuel assets | ||
Intangible assets | 8,966,361,405.65 | 8,226,559,783.38 |
Development expenses | 488,831,497.42 | 966,051,333.81 |
Goodwill | 21,197,596,096.81 | 20,344,616,586.99 |
Long-term deferred expenditures | 196,158,024.26 | 177,755,371.21 |
Deferred income tax assets | 1,883,601,023.69 | 2,011,904,164.13 |
Other non-current assets | 2,157,011,873.24 | 1,254,064,181.76 |
Total non-current assets | 70,584,072,928.35 | 66,517,375,786.46 |
Total assets | 167,626,386,705.18 | 157,096,764,347.93 |
Current liabilities: | ||
Short-term borrowings | 12,972,750,597.68 | 10,878,580,275.18 |
Borrowings from central bank | ||
Customer deposits and deposits from banks | ||
Placements from banks and other financial institutions | ||
Financial liabilities measured at fair value and changes of which included in current profit and loss | ||
Derivative financial liabilities | 116,230,558.04 | 2,524,569.45 |
Bills payable and accounts payable | 48,275,805,549.41 | 42,616,065,864.06 |
Advances from customers | 3,698,644,561.45 | 5,861,949,182.62 |
Disposal of repurchased financial assets | ||
Handling charges and commissions payable | ||
Payable for staff’s remuneration | 2,166,113,420.11 | 2,480,636,328.53 |
Taxes payable | 2,030,887,215.81 | 1,970,178,186.86 |
Other payable | 13,386,539,684.86 | 11,309,575,306.21 |
Including: Interests payable | 185,682,002.49 | 235,683,220.62 |
Dividends payable | 157,746,605.36 | 153,756,315.64 |
Reinsurance accounts payable | ||
Deposits for insurance contracts | ||
Consumer deposits for trading in securities | ||
Amounts due to issuer for securities underwriting | ||
Liabilities held for sale | 298,842,777.47 | |
Non-current liabilities due within one | 2,815,877,532.96 | 6,149,302,981.65 |
Qingdao Haier Co., Ltd
year | ||
Other current liabilities | 40,146,934.19 | 42,961,121.03 |
Total current liabilities | 85,801,838,831.98 | 81,311,773,815.59 |
Non-current liabilities: | ||
Long-term borrowings | 16,905,702,296.03 | 16,036,492,809.81 |
Debentures payable | 6,667,990,382.62 | 6,211,088,362.68 |
Including: preference shares | ||
Perpetual bonds | ||
Long-term payable | 105,158,826.26 | 106,020,029.74 |
Long-term payable for staff’s remuneration | ||
Estimated liabilities | 2,983,559,606.43 | 2,660,788,654.43 |
Deferred income | 650,407,021.26 | 497,141,088.72 |
Deferred income tax liabilities | 215,966,425.02 | 279,114,620.35 |
Other non-current liabilities | 2,830,963,168.26 | 2,147,990,857.13 |
Total non-current liabilities | 30,359,747,725.88 | 27,938,636,422.86 |
Total liabilities | 116,161,586,557.86 | 109,250,410,238.45 |
Owners’ equity (or shareholders’ equity) | ||
Pain-in capital (or share capital) | 6,097,402,727.00 | 6,097,402,727.00 |
Other equity instruments | 431,424,524.07 | 431,424,524.07 |
Including: preference shares | ||
Perpetual bonds | ||
Capital reserve | 826,883,093.84 | 2,316,873,282.11 |
Less: Treasury stock | ||
Other comprehensive income | 878,476,844.82 | 4,424,024.90 |
Special reserve | ||
Surplus reserve | 2,005,685,056.77 | 2,103,057,782.41 |
General risk provisions | ||
Undistributed profits | 25,436,021,427.52 | 22,346,318,444.63 |
Total equity attributable to owners of the Parent company | 35,675,893,674.02 | 33,299,500,785.12 |
Minority equity interests | 15,788,906,473.30 | 14,546,853,324.36 |
Total owners’ equity (or shareholders’ equity) | 51,464,800,147.32 | 47,846,354,109.48 |
Total liabilities and owners’ equities (or shareholders’ equity) | 167,626,386,705.18 | 157,096,764,347.93 |
Legal representative: Liang Haishan Chief accountant: Gong Wei
Person in charge of accounting department: Ying Ke
Qingdao Haier Co., Ltd
Balance Sheet of the Parent Company
30 September 2018
Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | Closing balance | Opening balance |
Current Assets: | ||
Monetary Capital | 3,394,119,013.68 | 2,070,527,802.97 |
Financial assets measured at fair value and changes of which included in current profit and loss | ||
Derivative financial assets | ||
Bill receivables and accounts receivables | 200,958,629.82 | 288,499,726.07 |
Including:Bill receivables | ||
Accounts receivables | 200,958,629.82 | 288,499,726.07 |
Prepayments | 23,687,108.51 | 20,000,000.00 |
Other receivables | 487,464,928.84 | 1,206,903,377.12 |
Including:Interests receivables | 6,870,477.10 | 220,157,282.75 |
Dividends receivables | 18,251,296.42 | 970,851,045.94 |
Inventories | 72,610,924.73 | 89,650,514.91 |
Assets held for sale | ||
Non-current assets due within one year | ||
Other current assets | 191,709,409.46 | 87,165,597.70 |
Total current assets | 4,370,550,015.04 | 3,762,747,018.77 |
Non-current assets: | ||
Available-for-sale financial assets | 5,335,773.96 | 5,818,587.80 |
Held-to-maturity investments | ||
Long-term receivables | 8,600,000,000.00 | |
Long-term equity investments | 32,390,142,090.54 | 23,581,254,928.08 |
Investment properties | ||
Fixed assets | 118,008,248.28 | 118,553,830.32 |
Construction in progress | 38,553,097.58 | 13,594,976.50 |
Biological assets for production | ||
Fuel assets | ||
Intangible assets | 7,147,254.17 | 14,601,582.38 |
Development expenses | ||
Goodwill | ||
Long-term deferred expenditures | 5,166,162.66 | |
Deferred income tax assets | 106,347,777.99 | 106,347,777.99 |
Other non-current assets | ||
Total non-current assets | 32,670,700,405.18 | 32,440,171,683.07 |
Total assets | 37,041,250,420.22 | 36,202,918,701.84 |
Qingdao Haier Co., Ltd
Current liabilities: | ||
Short-term borrowings | 1,500,000,000.00 | |
Financial liabilities measured at fair value and changes of which included in current profit and loss | ||
Derivative financial liabilities | ||
Bills payable and accounts payable | 235,162,661.28 | 310,387,267.67 |
Advances from customers | 2,418,969,696.50 | 2,465,908,721.32 |
payable for staff’s remuneration | 46,161,578.98 | 51,533,384.22 |
Taxes payable | 14,377,813.15 | 62,255,803.87 |
Other payable | 22,316,065,443.79 | 21,268,590,528.36 |
Including:interests payable | 188,675,107.27 | 156,447,167.63 |
Dividends payable | ||
Liabilities held for sale | ||
Non-current liabilities due within one year | ||
Other current liabilities | 18,216,506.32 | 12,498,265.43 |
Total current liabilities | 26,548,953,700.02 | 24,171,173,970.87 |
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 payable for staff’s remuneration | ||
Estimated liabilities | ||
Deferred income | 91,723,810.10 | 37,700,000.00 |
Deferred income tax liabilities | 37,790,420.16 | 36,152,815.34 |
Other non-current liabilities | ||
Total non-current liabilities | 149,514,230.26 | 93,852,815.34 |
Total liabilities | 26,698,467,930.28 | 24,265,026,786.21 |
Owners’ equity(or shareholders’ equity) | ||
Pain-in capital(or share capital) | 6,097,402,727.00 | 6,097,402,727.00 |
Other equity instruments | ||
Including: preference shares | ||
Perpetual bonds | ||
Capital reserve | 2,318,161,831.23 | 2,317,907,947.71 |
Less: Treasury stock | ||
Other comprehensive income | -13,438,995.88 | -43,234,737.77 |
Special reserve | ||
Surplus reserve | 1,437,313,649.93 | 1,437,313,649.93 |
Undistributed profits | 503,343,277.66 | 2,128,502,328.76 |
Qingdao Haier Co., Ltd
Total owners’ equity(or shareholders’ equity) | 10,342,782,489.94 | 11,937,891,915.63 |
Total liabilities and owners’equities(or shareholders’ equities) | 37,041,250,420.22 | 36,202,918,701.84 |
Legal representative: Liang Haishan Chief accountant: Gong Wei
Person in charge of accounting department: Ying Ke
Consolidated Income Statement
January-September 2018Prepared by: Qingdao Haier Co., Ltd.Unit and Currency: RMB Unaudited
Items | Amount for the current Period (July-September) | Amount for the previous Period (July-September) | Amount from the beginning of the year to the end of the reporting period (January-September) | Amount from the beginning of last year to the end of the reporting period (January-September) |
Ⅰ. Total operating revenue | 47,582,370,823.27 | 42,676,437,684.91 | 138,138,774,411.21 | 122,494,143,062.55 |
Including: operating revenue | 47,582,370,823.27 | 42,676,437,684.91 | 138,138,774,411.21 | 122,494,143,062.55 |
Interest income | ||||
Insurance premiums earned | ||||
Handling charges and commission income | ||||
Ⅱ. Total cost of operations | 46,118,823,532.91 | 41,579,488,110.86 | 131,146,255,979.08 | 116,764,168,447.98 |
Including: operating cost | 34,100,161,398.02 | 30,008,154,883.08 | 98,174,684,451.42 | 85,585,233,536.54 |
Interest expenses | ||||
Handling charges and commission expenses | ||||
Insurance withdrawal payment | ||||
Net payment from indemnity | ||||
Drawing of provisions for insurance contracts, net | ||||
Insurance policy dividend paid |
Qingdao Haier Co., Ltd
Reinsurance cost | ||||
Taxes and surcharges | 244,364,395.43 | 269,132,311.99 | 648,780,027.35 | 614,663,024.79 |
Selling expenses | 7,823,195,188.26 | 7,889,010,743.94 | 21,339,457,352.81 | 20,434,536,178.22 |
Administrative expenses | 2,132,814,021.53 | 1,612,634,066.12 | 6,236,541,938.43 | 5,227,336,684.13 |
R&D expenditures | 1,447,952,191.68 | 1,324,940,022.77 | 3,712,243,059.10 | 3,517,071,013.44 |
Financial expenses | 279,887,087.05 | 467,291,932.78 | 765,856,927.10 | 1,154,426,899.86 |
Including: Interest expenses | 304,546,395.79 | 349,114,922.55 | 988,211,900.04 | 1,061,792,763.50 |
Interest income | 98,827,316.38 | 94,430,542.09 | 333,241,702.03 | 235,611,576.12 |
Loss in assets impairment | 90,449,250.94 | 8,324,150.18 | 268,692,222.87 | 230,901,111.00 |
Add: Other income | 254,478,055.41 | 259,484,760.43 | 478,770,467.43 | 394,227,327.95 |
Investment income (losses are represented by “-”) | 458,978,905.04 | 319,971,426.66 | 1,326,437,894.00 | 973,814,141.01 |
Including: investment income from associates and joint ventures | ||||
Income from change in fair value (losses are represented by “-”) | -125,212,550.50 | 114,188,419.25 | -88,550,629.00 | 526,252,264.40 |
Income from disposal of assets (losses are represented by “-”) | 113,057,969.10 | 22,170,316.16 | 118,726,042.63 | 15,021,976.92 |
Exchange gain (losses are represented by “-”) | ||||
Ⅲ. Operating profit (losses are represented by “-”) | 2,164,849,669.41 | 1,812,764,496.55 | 8,827,902,207.19 | 7,639,290,324.85 |
Add: non-operating income | 88,873,125.37 | 230,651,977.14 | 307,131,026.14 | 477,616,097.62 |
Less: non-operating expenses | 24,609,630.01 | 41,884,014.99 | 74,176,661.32 | 119,329,951.37 |
Ⅳ.Total Profit (total losses are represented by “-”) | 2,229,113,164.77 | 2,001,532,458.70 | 9,060,856,572.01 | 7,997,576,471.10 |
Less: income tax expense | 263,274,478.27 | 214,861,802.48 | 1,230,053,924.92 | 968,361,199.76 |
V. Net Profit (net losses are | 1,965,838,686. | 1,786,670,65 | 7,830,802,647. | 7,029,215,271. |
Qingdao Haier Co., Ltd
represented by “-”) | 50 | 6.22 | 09 | 34 |
(I) Classification by continuous operation | ||||
1.Net profit from continuous operations (net losses are represented by “-”) | 1,965,838,686.50 | 1,786,670,656.22 | 7,830,802,647.09 | 7,029,215,271.34 |
2.Net profit from discontinued operations (net losses are represented by “-”) | ||||
(II)Classification by ownership of the equity | ||||
1. Net profit attributable to owners of the Parent Company | 1,341,445,309.68 | 1,217,982,647.53 | 6,126,787,121.21 | 5,602,801,883.86 |
2. Profit or loss attributable to minority shareholders | 624,393,376.82 | 568,688,008.69 | 1,704,015,525.88 | 1,426,413,387.48 |
VI. Other comprehensive income, net of tax | 548,134,190.72 | -95,904,313.27 | 1,013,158,337.47 | -327,410,413.04 |
Other comprehensive income attributable to owners of the Parent Company, net of tax | 492,890,595.99 | -81,928,492.43 | 833,824,709.33 | -280,916,551.66 |
(I) Other comprehensive income that will not be reclassified subsequently to profit or loss | -1,045,223.32 | -7,997,491.05 | ||
1. Changes arising from re-measurement of defined benefit plans | -1,045,223.32 | -7,997,491.05 | ||
2. Other comprehensive income that cannot be transferred to profit and loss under equity method | ||||
(II) Other comprehensive income to be reclassified subsequently to profit or loss | 493,935,819.31 | -81,928,492.43 | 841,822,200.38 | -280,916,551.66 |
1. Other comprehensive income that can be transferred to profit and loss under equity method | 74,779,420.86 | 40,693,511.60 | 161,496,158.75 | -81,346,664.65 |
2. Profit or loss from change in fair value of available-for-sale financial | -7,181,577.12 | 1,056,642.38 | 40,401,696.52 | -1,290,381.60 |
Qingdao Haier Co., Ltd
assets | ||||
3. Profit or loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets | ||||
4. Effective portion of profit or loss arising from cash flow hedges | -4,888,807.85 | 15,156,097.14 | 42,876,348.23 | -27,372,354.75 |
5. Exchange differences on translation of financial statements denominated in foreign currencies | 431,226,783.42 | -138,834,743.55 | 597,047,996.88 | -170,907,150.66 |
Other comprehensive income attributable to minority shareholders, net of tax | 55,243,594.73 | -13,975,820.84 | 179,333,628.14 | -46,493,861.38 |
Ⅶ. Total comprehensive income | 2,513,972,877.21 | 1,690,766,342.95 | 8,843,960,984.56 | 6,701,804,858.30 |
Total comprehensive income attributable to the owners of Parent Company | 1,834,335,905.66 | 1,136,054,155.10 | 6,960,611,830.54 | 5,321,885,332.20 |
Total comprehensive income attributable to the minority shareholders | 679,636,971.55 | 554,712,187.85 | 1,883,349,154.02 | 1,379,919,526.10 |
VIII. Earnings per share: | ||||
(I) Basic earnings per share (RMB/share) | 0.271 | 0.300 | 1.005 | 0.919 |
(II) Diluted earnings per share (RMB/share) | 0.264 | 0.300 | 0.987 | 0.919 |
For the business combination under common control effected during the period, the net profit realized bythe merged party before the combination was RMB -43,718,860.91
Legal representative: Liang Haishan Chief accountant: Gong Wei
Person in charge of accounting department: Ying Ke
Qingdao Haier Co., Ltd
Income Statement of the Parent Company
January-September 2018Prepared by: Qingdao Haier Co., Ltd.Unit and Currency: RMB Unaudited
Items | Amount for the current Period (July-September) | Amount for the previous Period (July-September) | Amount from the beginning of the year to the end of the reporting period (January-September) | Amount from the beginning of last year to the end of the reporting period (January-September) |
Ⅰ. Operating revenue | 792,884,921.23 | 885,928,248.69 | 2,417,038,949.69 | 2,429,040,574.34 |
Less: Operation cost | 555,280,503.90 | 599,578,352.66 | 1,675,343,056.16 | 1,724,678,093.73 |
Taxes and surcharges | 6,419,524.05 | 8,873,954.31 | 16,393,690.67 | 17,998,106.78 |
Selling expenses | 85,400,691.99 | 65,814,107.53 | 210,441,579.93 | 150,349,127.54 |
Administrative expenses | 141,647,234.36 | 131,166,668.97 | 345,344,601.02 | 327,764,969.80 |
R&D expenditures | 82,497,268.57 | 74,387,651.32 | 166,500,505.81 | 169,591,070.38 |
Financial expenses | 45,410,592.26 | 32,401,366.94 | 107,226,850.25 | 77,833,579.73 |
Including: Interest expenses | 80,070,880.63 | 71,132,206.66 | 210,180,419.77 | 187,164,133.92 |
Interest income | 28,915,355.12 | 40,157,833.17 | 101,898,989.53 | 111,044,209.34 |
Loss in assets impairment | -86,152,801.78 | -67,084,496.59 | 10,058,187.90 | -17,843,951.04 |
Add: Other income | 25,076,709.08 | -17,583,126.25 | 34,586,901.99 | 17,166,899.75 |
Investment income (losses are represented by “-”) | 306,404,376.82 | 108,081,882.92 | 525,924,446.67 | 259,975,650.65 |
Including: investment income from associates and joint ventures | ||||
Income from change in fair value (losses are represented by “-”) | ||||
Income from disposal of assets (losses are represented by | 25,693.17 | 25,693.17 |
Qingdao Haier Co., Ltd
“-”) | ||||
Ⅱ. Operating profit (losses are represented by “-”) | 293,888,686.95 | 131,289,400.22 | 446,267,519.78 | 255,812,127.82 |
Add: non-operating income | 6,536,549.52 | 41,890,232.67 | 34,283,951.35 | 59,966,161.35 |
Less: non-operating expenses | 58,667.36 | 852,535.19 | 311,781.90 | 861,948.86 |
Ⅲ. Total Profit (total losses are represented by “-”) | 300,366,569.11 | 172,327,097.70 | 480,239,689.23 | 314,916,340.31 |
Less: income tax expense | -4,749,277.12 | 9,633,872.86 | -8,231,021.09 | -756,318.10 |
Ⅳ. Net Profit (net losses are represented by “-”) | 305,115,846.23 | 162,693,224.84 | 488,470,710.32 | 315,672,658.41 |
(I)Net profit from continuous operations (net losses are represented by “-”) | 305,115,846.23 | 162,693,224.84 | 488,470,710.32 | 315,672,658.41 |
(II)Net profit from discontinued operations (net losses are represented by “-”) | ||||
V. Other comprehensive income, net of tax | 39,894.27 | 79,633.31 | 14,706,726.13 | -13,523,864.60 |
(I) Other comprehensive income that cannot be reclassified subsequently to profit or loss | ||||
1. Changes arising from re-measurement of defined benefit plans | ||||
2. Other comprehensive income that cannot be transferred to profit and loss under equity method | ||||
(II) Other comprehensive income to be reclassified subsequently to profit or loss | 39,894.27 | 79,633.31 | 14,706,726.13 | -13,523,864.60 |
1. Other comprehensive income that can be transferred to profit and loss under equity method | - | - | 15,117,117.89 | -13,949,016.48 |
2. Profit or loss from change in fair value of available-for-sale financial assets | 39,894.27 | 79,633.31 | -410,391.76 | 425,151.88 |
3. Profit or loss arising from reclassification of held-to-maturity investments to available-for-sale financial assets |
Qingdao Haier Co., Ltd
4. Effective portion of profit or loss arising from cash flow hedges | ||||
5. Exchange differences on translation of financial statements denominated in foreign currencies | ||||
VI. Total comprehensive income | 305,155,740.50 | 162,772,858.15 | 503,177,436.45 | 302,148,793.81 |
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
Consolidated Cash Flow Statement
January-September 2018Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | Amount from the beginning of the year to the end of the reporting period (January-September) | Amount from the beginning of last year to the end of the reporting period (January-September) |
Ⅰ. Cash flows from operating activities: | ||
Cash received from the sale of goods and rendering of services | 136,356,353,258.31 | 142,884,043,530.47 |
Net increase in consumer and inter-bank deposits | ||
Net increase in borrowing from central bank | ||
Net increase in Placements 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 |
Qingdao Haier Co., Ltd
Net increase from the disposal of financial assets measured at fair value and changes of which included in current profit and loss | ||
Cash received from interest, handling charges and commissions | ||
Net increase in Placements from banks and other financial institutions | ||
Net increase in cash received from repurchased operation | ||
Refunds of taxes | 1,046,920,477.01 | 928,821,816.67 |
Cash received from other related operating activities | 589,436,216.22 | 659,644,922.87 |
Sub-total of cash inflows from operating activities | 137,992,709,951.54 | 144,472,510,270.01 |
Cash paid on purchase of goods and services | 94,027,674,890.45 | 101,805,650,338.28 |
Net increase in loans and advances from customers | ||
Net increase in deposits in central bank and inter-bank | ||
Cash paid for compensation payments under original insurance contract | ||
Cash paid for interest, bank charges and commissions | ||
Cash paid for insurance policy dividend | ||
Cash paid to and on behalf of employees | 14,351,219,932.92 | 12,072,394,336.37 |
Cash paid for all types of taxes | 6,353,081,563.62 | 5,751,657,745.83 |
Cash paid to other operation related activities | 12,211,553,757.49 | 10,304,794,590.01 |
Sub-total of cash outflows from operating activities | 126,943,530,144.48 | 129,934,497,010.49 |
Net cash flows from operating activities | 11,049,179,807.06 | 14,538,013,259.52 |
Ⅱ. Cash flows from investing activities: | ||
Cash received from disposal of investments | 3,057,186,798.56 | 41,065,673.58 |
Cash received from return on investments | 284,197,818.40 | 240,271,551.96 |
Net cash received from the disposal of fixed assets, intangible assets and other long-term assets | 312,264,347.04 | 61,986,331.26 |
Net cash received from disposal of subsidiaries and other operating entities | 630,890,842.99 | 155,037,270.54 |
Qingdao Haier Co., Ltd
Cash received from other investment related activities | 106,361,571.07 | |
Sub-total of cash inflows from investing activities | 4,390,901,378.06 | 498,360,827.34 |
Cash paid on purchase of fixed assets, intangible assets and other long-term assets | 4,448,216,757.39 | 2,875,638,772.83 |
Cash paid for investment | 9,128,017,281.00 | 2,251,865,388.66 |
Net increase in secured loans | ||
Net cash paid on acquisition of subsidiaries and other operating entities | 2,143,193,029.63 | 88,429,231.46 |
Cash paid on other investment related activities | 22,812,827.94 | 8,992,511.00 |
Sub-total of cash outflows from investing activities | 15,742,239,895.96 | 5,224,925,903.95 |
Net cash flows from investing activities | -11,351,338,517.90 | -4,726,565,076.61 |
Ⅲ. Cash flows from financing activities: | ||
Cash received from investment | 712,560,270.91 | 1,347,892,085.10 |
Including: cash received by subsidiaries from minority shareholders’ investment | ||
Cash received from borrowings | 12,010,235,777.28 | 16,802,696,722.23 |
Cash received from issuing bonds | ||
Cash received from other financing related activities | 1,731,609.42 | |
Sub-total of cash inflows from financing activities | 12,722,796,048.19 | 18,152,320,416.75 |
Cash paid on repayment of borrowings | 10,654,594,243.08 | 17,319,127,428.05 |
Cash paid on distribution of dividends, profits, or interest expenses | 2,757,273,989.73 | 2,010,741,534.99 |
Including: dividend, profit paid to minority shareholders by subsidiaries | ||
Cash paid on other financing activities | 684,267,226.55 | 60,636,145.07 |
Sub-total of cash outflows from financing activities | 14,096,135,459.36 | 19,390,505,108.11 |
Net cash flows from financing activities | -1,373,339,411.17 | -1,238,184,691.36 |
Ⅳ. Effect of fluctuations in exchange rates on cash and cash equivalents | 372,206,915.04 | -178,747,785.13 |
Ⅴ. Net increase in cash and cash equivalents | -1,303,291,206.97 | 8,394,515,706.42 |
Add: balance of cash and cash equivalents at the beginning of the period | 34,988,175,709.53 | 23,966,288,576.46 |
Qingdao Haier Co., Ltd
VI.Balance of cash and cash equivalents at the end of the period | 33,684,884,502.56 | 32,360,804,282.88 |
Legal representative: Liang Haishan Chief accountant: Gong Wei
Person in charge of accounting department: Ying Ke
Cash Flow Statement of the Parent Company
January-September 2018Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | Amount from the beginning of the year to the end of the reporting period (January-September) | Amount from the beginning of last year to the end of the reporting period (January-September) |
Ⅰ. Cash flows from operating activities: | ||
Cash received from the sale of goods and rendering of services | 1,318,190,025.50 | 427,739,667.35 |
Refunds of taxes | 95,543,006.48 | 55,711,962.27 |
Cash received from other related operating activities | 173,528,179.29 | 54,115,058.79 |
Sub-total of cash inflows from operating activities | 1,587,261,211.27 | 537,566,688.41 |
Cash paid on purchase of goods and services | 458,713,553.43 | 1,452,092,842.51 |
Cash paid to and on behalf of employees | 647,354,793.69 | 564,703,136.34 |
Cash paid for all types of taxes | 139,250,644.36 | 137,011,406.78 |
Cash paid to other operation related activities | 374,617,434.69 | 321,211,786.90 |
Sub-total of cash outflows from operating activities | 1,619,936,426.17 | 2,475,019,172.53 |
Net cash flows from operating activities | -32,675,214.90 | -1,937,452,484.12 |
Ⅱ. Cash flows from investing activities: | ||
Cash received from disposal of investments | 505,207,895.00 |
Qingdao Haier Co., Ltd
Cash received from return on investments | 1,153,009,979.01 | 429,548,610.50 |
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 investing activities | 1,658,217,874.01 | 429,548,610.50 |
Cash paid on purchase of fixed assets, intangible assets and other long-term assets | 46,367,088.81 | 28,348,785.40 |
Cash paid for investments | 73,572,235.00 | 793,311,762.50 |
Net cash paid on acquisition of subsidiaries and other operating entities | ||
Cash paid on other investment related activities | ||
Sub-total of cash outflows from investing activities | 119,939,323.81 | 821,660,547.90 |
Net cash flows from investing activities | 1,538,278,550.20 | -392,111,937.40 |
Ⅲ. Cash flows from financing activities: | ||
Cash received from investment | ||
Cash received from borrowings | 1,500,000,000.00 | |
Cash received from issuing bonds | ||
Cash received from other financing related activities | 424,802,503.30 | 4,517,547,537.12 |
Sub-total of cash inflows from financing activities | 1,924,802,503.30 | 4,517,547,537.12 |
Cash paid on repayment of borrowings | ||
Cash paid on distribution of dividends, profits, or interest expenses | 2,106,817,045.14 | 1,512,155,876.29 |
Cash paid on other financing activities | 1,041,960.00 | |
Sub-total of cash outflows from financing activities | 2,106,817,045.14 | 1,513,197,836.29 |
Net cash flows from financing activities | -182,014,541.84 | 3,004,349,700.83 |
Ⅳ. Effect of fluctuations in exchange rates on cash and cash equivalents | 2,417.25 | -2,101.16 |
Ⅴ. Net increase in cash and cash equivalents | 1,323,591,210.71 | 674,783,178.15 |
Qingdao Haier Co., Ltd
Add: balance of cash and cash equivalents at the beginning of the period | 2,070,527,802.97 | 3,888,623,400.28 |
Ⅵ. Balance of cash and cash equivalents at the end of the period | 3,394,119,013.68 | 4,563,406,578.43 |
Legal representative: Liang Haishan Chief accountant: Gong Wei
Person in charge of accounting department: Ying Ke
4.2 Auditors’ Report□Applicable √Not Applicable