Contents
I. IMPORTANT NOTICE .......................................................................................................................... 3
II. COMPANY PROFILE ........................................................................................................................... 3
III. SIGNIFICANT EVENTS ..................................................................................................................... 8
IV. APPENDIX ......................................................................................................................................... 11
(Note: This Report has been prepared in both Chinese and English. Should there be any discrepanciesor misunderstandings between the two versions, the Chinese version shall prevail.)
I. IMPORTANT NOTICE
1.1 The Board of Directors, the Board of Supervisors, directors, supervisors and senior management of
Qingdao Haier Co., Ltd. (“the Company”) hereby assure that the content set out in the quarterly report istrue, accurate and complete, and free from any false record, misleading representation or materialomission, and are individually and collectively responsible for the content set out therein.
1.2 Information of Directors absent. from the meeting
Position of director absent from the meeting | Name of director absent from the meeting | Reason for the absence of director from the meeting | Name of proxy |
Director | Liu Haifeng | Personal affair | 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 statementsset out in the quarterly report is true, accurate and complete.1.4 The first quarterly report of the Company has not been audited.
II. COMPANY PROFILE
2.1 Key financial data
Unit and Currency: RMB
At the end of the reporting period | At the end of last year | Increase/decrease at the end of the reporting period compared with the end of last year (%) | ||
After the Adjustment | Before the Adjustment | |||
Total assets | 177,444,803,072.13 | 166,699,544,243.79 | 166,699,544,243.79 | 6.45 |
Net assets attributable to shareholders of listed companies | 41,076,912,031.44 | 39,402,350,791.68 | 39,402,350,791.68 | 4.15 |
At the beginning of the year to the end of the reporting period | At the beginning of last year to the end of the reporting period of last year | Yoy change (%) |
After the Adjustment | Before the Adjustment | |||
Net cash flows from operating activities | 1,323,519,988.31 | 2,170,214,541.28 | 1,990,934,744.45 | -39.01 |
At the beginning of the year to the end of the reporting period | At the beginning of last year to the end of the reporting period of last year | Yoy change (%) | ||
After the Adjustment | Before the Adjustment | |||
Operating revenue | 48,043,265,870.34 | 43,609,601,739.36 | 42,655,164,567.37 | 10.17 |
Net profits attributable to shareholders of listed companies | 2,136,268,479.08 | 1,952,610,308.35 | 1,979,995,364.53 | 9.41 |
Net profits after non-recurring profit or loss attributable to shareholders of listed companies | 1,887,324,275.73 | 1,761,919,417.70 | 1,761,919,417.70 | 7.12 |
Weighted average return on net assets (%) | 6.62 | 7.02 | 5.99 | decrease 0.40 percent point |
Basic earnings per share (RMB per share) | 0.335 | 0.320 | 0.325 | 4.69 |
Diluted earnings per share (RMB per share) | 0.323 | 0.317 | 0.321 | 1.89 |
Note:In Q1 of 2019, the Company's income from white goods & kitchen & bathroom electric appliancesincreased by 13.3%; not considering that Candy is consolidated in the statement, the Company's incomefrom white goods & kitchen & bathroom electric appliances increased by 8.1%. 1) Chinese market.Under the adverse environment of business downturn in the industry, the Company maintained anincreasing trend for all lines of products through deepening the transformation of retail and boostingfull-network management and four-in-one network. According to the monitored data of CMM, inJanuary-March 2019, retail sales of Haier brand refrigerator, washing machine, household airconditioners, water heaters, kitchen ventilators and gas stoves increased 1.57, 3.06, 1.26, 1.43, 1.37 amd1.45 percentage points on year-on-year basis, respectively; Casarte maintained rapid growth in Q1 and
constantly increased its market share. 2) Overseas market. Based on the independent brands and thethree-in-one layout, the Company went deeply into the global market and maintained rapid growth in theoverseas market. The income increase in North America (GEA) is more than 10% (on the USDstandard); in January 2019, the Company accomplished the delivery of Candy. After the delivery, theintegrated operation is smooth and Candy maintained good development trend in January-March.
Non-recurring profit or loss items and amount√Applicable□ Not Applicable
Unit and Currency: RMB
Items | Amount for the current period |
Profit or loss from disposal of non-current assets | -7,007,479.65 |
Tax refund, reduction or exemption with approval exceeding authority or without official approval or occasionally | |
Government grants included in current profit or loss, except that closely related to the normal operating business, complied with requirements of the national policies, continued to be granted with the amount and quantity determined under certain standards | 27,414,780.52 |
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, financial assets available for sale | 211,562,253.14 |
Other non-operating income and expenses except the aforementioned items | 84,476,113.57 |
Minority interests(after tax) | -51,290,873.00 |
Income tax | -16,210,591.23 |
Total | 248,944,203.35 |
2.2 Table of total number of shareholders, top ten shareholders, top ten common shareholders (or the
shareholders without selling restrictions) by the end of the reporting period
Unit: Share
Total number of shareholders | 172,948 | ||||
Shareholdings of top ten shareholders | |||||
Name of shareholder (full name) | Number of shares held at | Percentage | Number of shares held | Status of shares pledged or frozen | Nature of shareholder |
the end of the period | (%) | subject to selling restrictions | Status | Number | |||
Haier Electric Appliances International Co., Ltd. | 1,258,684,824 | 19.76 | Nil | Domestic non-state-owned legal entity | |||
Haier Group Corporation | 1,072,610,764 | 16.84 | Nil | Domestic non-state-owned legal entity | |||
Hong Kong Securities Clearing Co., Ltd | 605,276,447 | 9.50 | Unknown | Unknown | |||
GIC PRIVATE LIMITED | 232,920,332 | 3.66 | Unknown | Foreign legal entity | |||
China Securities Finance Corporation Limited | 182,592,697 | 2.87 | Unknown | Unknown | |||
Qingdao Haier Venture & Investment Information Co., Ltd.(青岛海尔创业投资咨询有限公司) | 172,252,560 | 2.70 | Nil | Domestic non-state-owned legal entity | |||
National social security fund Portfolio 104 | 97,799,981 | 1.54 | Unknown | Unknown | |||
CLEARSTREAM BANKING S.A. (note) | 90,926,856 | 1.43 | Unknown | Foreign legal entity | |||
Central Huijin Asset Management Ltd. | 69,539,900 | 1.09 | Unknown | Unknown | |||
Qingdao Haichuangzhi Management Consulting Enterprise (Limited Partnership) | 68,583,083 | 1.08 | Nil | Domestic non-state-owned legal entity | |||
Shareholdings of top ten shareholders not subject to selling restrictions | |||||||
Name of shareholder | Number of shares held not subject to 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. | 605,276,447 | RMB ordinary | 605,276,447 | ||||
GIC PRIVATE LIMITED | 232,920,332 | RMB ordinary | 232,920,332 |
China Securities Finance Corporation Limited | 182,592,697 | RMB ordinary | 182,592,697 |
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 |
National social security fund, Portfolio 104 | 97,799,981 | RMB ordinary | 97,799,981 |
CLEARSTREAM BANKING S.A. | 90,926,856 | Overseas listed foreign shares | 90,926,856 |
Central Huijin Asset Management Ltd. | 69,539,900 | RMB ordinary | 69,539,900 |
Qingdao Haichuangzhi Management Consulting Enterprise (Limited Partnership) | 68,583,083 | RMB ordinary | 68,583,083 |
Related-parties or parties acting in concert among the aforesaid shareholders | (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 Haier Venture & Investment Information Co., Ltd.( 青岛海尔创业投资咨询有限公司) Qingdao Haichuangzhi Management Consulting Enterprise (Limited Partnership) are parties acting in concert with 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 | Not applicable |
Note: This account is the Clearstream Banking collection account for the Company's D shares, which isthe original data provided by the German securities registration agency to the Company after the mergeraccording to local market practices and technical settings, not representing the ultimate shareholder.
2.3 Table of total number of preferential shareholders, top ten preferential shareholders, top ten preferential
shareholders without selling restrictions by the end of the reporting period
□Applicable√ Not Applicable
III. SIGNIFICANT EVENTS
3.1 The major changes of and reasons for the items of accounting statement and financial indicators
√Applicable □ Not Applicable1) Non-current assets due within one year increased over the beginning of the period by 100%,
mainly due to the revenue from the acquisition of CANDY in the current period;2) Use rights assets increased over the beginning of the period by 100%,mainly due to use rights
asset recognized according to Accounting Standards for Business Enterprises No. 21 - Leases;3) Derivative financial liabilities decreased over the beginning of the period by 54.70%,mainly
due to changes in the value of foreign exchange derivative financial instruments;4) Contract liabilities decreased over the beginning of the period by 37.05%,mainly due to the
completion of the contract performance corresponding to the payment received;5) Non-current liabilities due within one year increased over the beginning of the period by
194.11%,mainly because long-term borrowings will expire in one year.;6) Lease liabilities increased over the beginning of the period by 100%,mainly due to the lease
liabilities recognized according to Accounting Standard for Business Enterprises No. 21 -
Leases;7) Deferred income tax liabilities increased over the beginning of the period by 102.72%, mainly
due to the revenue from the current acquisition of CANDY in the current period;8) Other comprehensive income decreased over the beginning of the period by 47.93%,mainly
due to the impact of the translation differences of the statement;9) Gain from disposal of asset decreased by 351.67% yoy,mainly due to the scale of asset
disposal decreased over the same period;10) Non-operating expenses increased by 140.58% yoy,mainly due to the increase in one- off
expenses recognized in the current period;11) Net cash flow from operating activities decreased by 39.01% yoy, mainly due to the fact that
some subsidiaries are stocked according to the rhythm of use;12) Net cash flow from investing activities decreased by 206.54% yoy, mainly due to the impact
of cash expenditure resulting from the acquisition of CANDY in the current period;
13) Net cash flow from financing activities increased by 292.54% yoy,mainly due to the impact of
borrowing resulting from the acquisition of CANDY in the current period.
3.2 Analysis on the progress of significant events and their impact and solution
√Applicable □ Not Applicable(1) External guarantees: By the end of the reporting period, the external guarantees provided bythe Company and its subsidiaries were guarantees between the Company and its subsidiaries, thetotal balance of which amounted to RMB19.461 billion, accounting for 47.4% of the Company’slatest net assets and 10.9% of the latest total assets.(2) Foreign exchange derivative: By the end of the reporting period, the aggregate balance of theCompany’s foreign exchange derivative transactions amounted to approximately US$5.547 billion.
(3) Entrusted wealth management: By the end of the reporting period, the balance of the
Company’s entrusted wealth management amounted to RMB5.873 billion, including two parts: (1)temporarily-idle fundraising wealth management: at the end of December 2018, the Company’sproceeds for the issuance of convertible corporate bonds were fully landed. In order to improve theyield of temporarily-idle funds, the Company intends to carry out cash management with theamounts not exceed RMB1.5 billion after approved by the Board of Directors. By the end of thereporting period, the balance of the entrusted wealth management amounted to RMB1.5 billion; (2)wealth management of the Company’s Hong Kong listed subsidiary: Haier Electronics GroupCo., Ltd. (hereinafter referred to as “Haier Electronics” , stock code: 01169.HK), the holdingsubsidiary of the Company, has purchased some short-term principal-protected wealth managementand structural deposits from the large commercial banks as an independently operating Hong Konglisted company in order to increase the efficiency of the use of idle funds within the authorities ofthe management and on the premise of safeguarding funds security. In the purchase process, all thenecessary board reports were subject to the procedures such as filling and management’ s reviewaccording to the regulations requirements for Hong Kong listed company, so as to ensure sufficientfunds for the day-to-day operations of the main business and improve the shareholders' returns. Bythe end of the reporting period, the balance of the entrusted wealth management amounted toRMB4.373 billion.
3.3 The undertakings that have been past due and not been completed during the reporting period
□Applicable √ Not Applicable
3.4 Warning of and reasons for the forecast that the accumulated net profit for the period from the opening
of the year to the end of the next reporting period may be a loss or there is a significant change ascompared to that of the same period of last year
□Applicable √ Not Applicable
Name of the Company | Qingdao Haier Co., Ltd. |
Legal representative | Liang Haishan |
Date | 29 April 2019 |
IV. APPENDIX
1.1 Financial Statements
Consolidated Balance Sheet
31 March 2019Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | 31 March 2019 | 31 December 2018 |
Current Assets: | ||
Cash and cash equivalents | 35,978,171,406.89 | 37,456,355,407.28 |
Provision of settlement fund | ||
Funds lent | ||
Trading financial assets | 1,931,696,758.82 | 1,775,648,387.76 |
Financial assets measured at fair value and changes of which included in current profit and loss | ||
Derivative financial assets | 73,100,239.72 | 96,723,164.37 |
Bills receivable and accounts receivable | 26,227,996,470.93 | 24,652,130,810.52 |
Prepayments | 695,077,852.98 | 594,555,015.00 |
Premiums receivable | ||
Reinsurance accounts receivable | ||
Reinsurance contract reserves receivable | ||
Other receivables | 1,910,441,148.95 | 1,626,975,864.98 |
Financial assets purchased under resale agreements | ||
Inventories | 22,906,897,890.56 | 22,377,191,121.53 |
Contract assets | 483,179,995.88 | 456,781,406.54 |
Assets held for sale | 143,480,001.46 | 144,091,213.39 |
Non-current assets due within one year | 301,303,935.61 | |
Other current assets | 5,879,549,636.56 | 5,079,878,909.67 |
Total current assets | 96,530,895,338.36 | 94,260,331,301.04 |
Non-current assets: | ||
Loans and advances granted | ||
Debt investments | ||
Available-for-sale financial assets | ||
Other debt investments | ||
Held-to-maturity investments | ||
Long-term receivables | 309,889,902.16 | 245,791,343.37 |
Long-term equity investments | 14,102,908,167.25 | 13,966,481,596.07 |
Investments in other equity instruments | 1,414,185,117.80 | 1,400,316,460.34 |
Other non-current financial assets | 320,122,724.57 | 327,358,825.57 |
Investment properties | 29,872,695.75 | 30,879,147.42 |
Fixed assets | 18,343,588,537.78 | 17,319,638,881.37 |
Construction in progress | 4,374,810,936.13 | 3,873,492,230.24 |
Biological assets for production | ||
Oil and gas assets | ||
Right-of-use assets | 3,186,601,599.19 | |
Intangible assets | 11,135,182,900.84 | 9,209,242,721.71 |
Development expenditure | 589,670,184.75 | 538,382,288.33 |
Goodwill | 22,532,437,320.02 | 21,155,552,557.16 |
Long-term prepaid expenses | 247,267,225.14 | 230,763,172.48 |
Deferred income tax assets | 1,842,933,959.36 | 1,815,624,736.13 |
Other non-current assets | 2,484,436,463.03 | 2,325,688,982.56 |
Total non-current assets | 80,913,907,733.77 | 72,439,212,942.75 |
Total assets | 177,444,803,072.13 | 166,699,544,243.79 |
Current liabilities: | ||
Short-term borrowings | 7,849,028,283.66 | 6,298,504,892.57 |
Borrowings from central bank | ||
Placements from banks | ||
Trading financial liabilities | 248,863,237.30 | 218,748,280.33 |
Financial liabilities measured at fair value and changes of which included in current profit and loss | ||
Derivative financial liabilities | 16,127,928.30 | 35,603,754.54 |
Bills and accounts payable | 47,451,772,978.04 | 47,385,218,141.38 |
Receipts in advance | 13,440,073.43 | 14,681,466.58 |
Disposal of repurchased financial assets | ||
Absorbing deposit and deposit in inter-bank market | ||
Customer deposits for trading in securities | ||
Amounts due to issuer for securities underwriting | ||
Staff remuneration payable | 2,483,732,174.94 | 2,651,399,418.05 |
Taxes payable | 2,338,583,800.23 | 1,838,440,727.39 |
Other payables | 14,183,974,878.35 | 12,685,677,402.91 |
Fees and commissions payable | ||
Reinsurance accounts payable | ||
Contract liabilities | 3,450,932,910.36 | 5,482,325,888.59 |
Liabilities held for sale | 31,428,396.16 | 32,362,267.88 |
Non-current liabilities due within one year | 8,867,703,140.27 | 3,015,060,105.58 |
Other current liabilities | 397,681,487.47 | 423,638,804.62 |
Total current liabilities | 87,333,269,288.51 | 80,081,661,150.42 |
Non-current liabilities: | ||
Deposits for insurance contracts | ||
Long-term borrowings | 13,578,285,442.78 | 15,541,466,325.22 |
Debentures payable | 9,117,565,585.15 | 9,191,896,302.70 |
Including: preference Shares | ||
perpetual bonds | ||
Lease liabilities | 2,861,619,896.53 | |
Long-term employee benefits payable | 972,965,927.68 | 934,974,735.49 |
Long-term payable | 110,931,073.95 | 106,763,243.99 |
Estimated liabilities | 2,764,974,892.87 | 2,839,741,079.48 |
Deferred income | 621,676,802.72 | 643,551,987.30 |
Deferred income tax liabilities | 821,712,030.49 | 405,343,787.76 |
Other non-current liabilities | 2,101,335,708.92 | 1,823,866,693.93 |
Total non-current liabilities | 32,951,067,361.09 | 31,487,604,155.87 |
Total liabilities | 120,284,336,649.60 | 111,569,265,306.29 |
Owners’ equity(or shareholder’s equity): | ||
Paid-in capital (or share capital ) | 6,368,416,700.00 | 6,368,416,700.00 |
Other equity instruments | 904,485,788.71 | 904,485,788.71 |
Including: preference shares | ||
perpetual bonds | ||
Capital reserve | 2,117,379,369.01 | 2,208,773,474.57 |
Less: treasury stock | ||
Other comprehensive income | 402,319,213.59 | 772,632,347.35 |
Surplus reserve | 2,288,301,317.10 | 2,288,301,317.10 |
General risk provisions | ||
Undistributed profits | 28,996,009,643.03 | 26,859,741,163.95 |
Total equity attributable to owners (or shareholder) of the parent company | 41,076,912,031.44 | 39,402,350,791.68 |
Minority interests | 16,083,554,391.09 | 15,727,928,145.82 |
Total owners’ equity (or shareholders’ equity) | 57,160,466,422.53 | 55,130,278,937.50 |
Total liabilities and owners’ equities (or shareholders’ equity) | 177,444,803,072.13 | 166,699,544,243.79 |
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Balance Sheet of the Parent Company
31 March 2019Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | 31 March 2019 | 31 December 2018 |
Current Assets: | ||
Cash and cash equivalents | 3,294,316,781.75 | 7,068,899,574.96 |
Trading financial assets | ||
Financial assets measured at fair value and changes of which included in current profit and loss | ||
Derivative financial assets | ||
Bills receivable and accounts receivable | 252,252,237.39 | 222,622,017.43 |
Prepayments | 22,994,199.46 | 28,809,797.43 |
Other receivables | 2,076,957,299.28 | 2,082,767,166.58 |
Including: interests receivable | ||
dividends receivable | ||
Inventories | 109,177,862.94 | 124,773,163.23 |
Contract assets | ||
Assets held for sale | ||
Non-current assets due within one year | ||
Other current assets | 1,551,615,146.16 | 109,865,313.53 |
Total current assets | 7,307,313,526.98 | 9,637,737,033.16 |
Non-current assets: | ||
Debt investments | ||
Available-for-sale financial assets | ||
Other debt investments | ||
Held-to-maturity investments | ||
Long-term receivables | ||
Long-term equity investments | 34,524,465,540.39 | 33,844,234,315.30 |
Other equity instruments investments | 5,262,480.92 | 5,262,480.92 |
Other non-current financial assets | ||
Investment properties | ||
Fixed assets | 118,109,691.36 | 119,546,157.40 |
Construction in progress | 52,582,249.41 | 37,655,076.18 |
Biological assets for production | ||
Oil and gas assets | ||
Right-of-use assets | ||
Intangible assets | 17,125,291.81 | 17,186,540.33 |
Development expenses | ||
Goodwill | ||
Long-term prepaid expenses | 6,193,430.63 | 5,779,229.64 |
Deferred income tax assets | 81,511,748.07 | 81,511,748.07 |
Other non-current assets | 30,058,794.50 | 28,632,829.14 |
Total non-current assets | 34,835,309,227.09 | 34,139,808,376.98 |
Total assets | 42,142,622,754.07 | 43,777,545,410.14 |
Current liabilities: | ||
Short-term borrowings | 1,500,000,000.00 | 1,500,000,000.00 |
Trading financial liabilities | ||
Financial liabilities measured at fair value and changes of which included in current profit and loss | ||
Derivative financial liabilities | ||
Bills payable and accounts payable | 213,644,252.46 | 334,747,358.40 |
Receipts in advance | ||
Contract liabilities | 2,676,603,627.91 | 2,391,211,509.89 |
Staff remuneration payable | 21,200,110.05 | 65,387,056.03 |
Taxes payable | 87,613,612.64 | 67,279,606.39 |
Other payables | 20,041,071,781.16 | 21,834,869,774.34 |
Including: interests payable | ||
dividends payable | ||
Liabilities held for sale | ||
Non-current liabilities due within one year | ||
Other current liabilities | 1,869,747.57 | 2,089,282.56 |
Total current liabilities | 24,542,003,131.79 | 26,195,584,587.61 |
Non-current liabilities: | ||
Long-term borrowings | ||
Debentures payable | 2,535,865,514.77 | 2,510,530,062.86 |
Including: preference shares | ||
perpetual bonds | ||
Leasing liabilities | ||
Long-term payable | 20,000,000.00 | 20,000,000.00 |
Estimated liabilities | ||
Deferred income | 56,820,000.00 | 67,360,000.00 |
Deferred income tax liabilities | 29,485,678.28 | 29,485,678.28 |
Other non-current liabilities | ||
Total non-current liabilities | 2,642,171,193.05 | 2,627,375,741.14 |
Total liabilities | 27,184,174,324.84 | 28,822,960,328.75 |
Owners’ equity (or shareholders’ equity): | ||
Paid-in capital (or share capital ) | 6,368,416,700.00 | 6,368,416,700.00 |
Other equity instruments | 473,061,264.64 | 473,061,264.64 |
Including: preference shares |
perpetual bonds | ||
Capital reserve | 4,182,825,672.98 | 4,182,825,672.98 |
Less: treasury stock | ||
Other comprehensive income | 13,005,452.25 | 7,791,344.47 |
Surplus reserve | 1,683,155,091.65 | 1,683,155,091.65 |
Undistributed profits | 2,237,984,247.71 | 2,239,335,007.65 |
Total owners’ equity (or shareholders’ equity) | 14,958,448,429.23 | 14,954,585,081.39 |
Total liabilities and owners’ equity (or shareholders’ equity) | 42,142,622,754.07 | 43,777,545,410.14 |
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Consolidated Income Statement
January-March 2019
Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | First quarter of 2019 | First quarter of 2018 |
Ⅰ.Total operating revenue | 48,043,265,870.34 | 43,609,601,739.36 |
Including: operating revenue | ||
interest income | ||
insurance premiums earned | ||
fee and commission income | ||
Ⅱ. Total cost of operations | 45,590,068,619.86 | 41,368,597,195.96 |
Including: operating cost | 34,031,470,881.04 | 30,999,495,660.70 |
interest expenses | ||
Fee and commission expenses | ||
Insurance withdrawal payment | ||
Net payment from indemnity | ||
Net provisions withdrew for insurance contract | ||
Insurance policy dividend paid | ||
Reinsurance cost | ||
Taxes and surcharges | 231,507,156.07 | 224,461,457.41 |
Selling expenses | 7,200,387,965.14 | 6,423,248,604.88 |
Administrative expenses | 1,868,650,431.02 | 1,646,313,944.01 |
R&D expenses | 1,534,693,885.11 | 1,307,185,173.77 |
Financial expenses | 441,163,370.56 | 518,426,762.70 |
Including: interest expenses | 410,800,313.48 | 345,053,255.05 |
interest income | 123,961,763.88 | 135,923,774.22 |
Loss on assets impairment | 215,322,646.22 | 168,457,066.31 |
Loss on credit impairment | 66,872,284.70 | 81,008,526.18 |
Add: Other income | 99,386,924.79 | 105,727,350.18 |
Investment income (losses are represented by “-”) | 295,937,088.57 | 243,010,339.90 |
Including: Investment income of associates and joint ventures | ||
Exchange gain (losses are represented by “-”) | ||
Gains on net exposure hedges (losses are represented by “-”) | ||
Income from change in fair value (losses are represented by “-”) | 221,898,309.95 | 207,293,485.79 |
Gain from disposal of assets (losses are represented by “-”) | -3,192,061.07 | 1,268,375.75 |
Ⅲ.Operating profit (losses are represented by “-”) | 3,067,227,512.72 | 2,798,304,095.02 |
Add: non-operating income | 105,739,702.28 | 111,872,540.18 |
Less: non-operating expenses | 21,263,588.71 | 8,838,321.34 |
Ⅳ. Total profit (total losses are represented by “-”) | 3,151,703,626.29 | 2,901,338,313.86 |
Less: income tax expense | 485,529,907.56 | 460,952,972.84 |
Ⅴ. Net profit (net losses are represented by “-”) | 2,666,173,718.73 | 2,440,385,341.02 |
(I) Classification by continuous operation | ||
1.Net profit from continuous operation (net losses are represented by “-”) | 2,666,173,718.73 | 2,440,385,341.02 |
2. Net profit from discontinuous operation (net losses are represented by “-”) | ||
(II)Classification by ownership of the equity | ||
1. Net profit attributable to shareholders of the Parent Company (net losses are represented by “-”) | 2,136,268,479.08 | 1,952,610,308.35 |
2. Profit or loss attributable to minority shareholders (net losses are represented by “-”) | 529,905,239.65 | 487,775,032.67 |
VI. Other comprehensive income, net of tax | -416,973,681.83 | -333,103,336.79 |
Other comprehensive income attributable to owners of the Parent Company, net of tax | -370,313,133.76 | -287,601,356.58 |
(I) Other comprehensive income that cannot be reclassified into the profit or loss | -1,616,393.65 | -1,958,743.03 |
1. Changes arising from re-measurement of defined benefit plans | -1,296,966.52 | -1,280,674.80 |
2. Other comprehensive income that cannot be transferred into profit or loss under |
equity method | ||
3. Changes in fair value of investments in other equity instruments | -319,427.13 | -678,068.23 |
4. Changes in fair value of credit risks of the enterprise | ||
(II) Other comprehensive income to be reclassified into the profit or loss | -368,696,740.11 | -285,642,613.55 |
1. Other comprehensive income that can be transferred into profit or loss under equity method | -34,948,498.63 | -42,701,390.85 |
2. Changes in fair value of other debt investments | ||
3. Gain or loss from changes in fair value of available-for-sale financial assets | ||
4. Reclassified financial assets that are credited to other comprehensive income | ||
5. Gain or loss arising from reclassification from held-to-maturity investments to available-for-sale financial assets | ||
6. Credit impairment provision for other debt investments | ||
7. Reserve for cash flow hedging (Effective portion of gain or loss arising from cash flow hedging) | -16,356,811.45 | 25,699,770.15 |
8. Exchange differences on translation of financial statements denominated in foreign currencies | -317,391,430.03 | -268,640,992.85 |
9.Others | ||
Other comprehensive income attributable to minority shareholders, net of tax | -46,660,548.07 | -45,501,980.21 |
Ⅶ. Total comprehensive income | 2,249,200,036.90 | 2,107,282,004.23 |
Total comprehensive income attributable to the owners of Parent Company | 1,765,955,345.32 | 1,665,008,951.77 |
Total comprehensive income attributable to the minority shareholders | 483,244,691.58 | 442,273,052.46 |
Ⅷ . Earnings per share: | ||
(I) Basic earnings per share(RMB/share) | 0.335 | 0.320 |
(II) Diluted earnings per share(RMB/share) | 0.323 | 0.317 |
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Income Statement of the Parent Company
January-March 2019Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | First quarter of 2019 | First quarter of 2018 |
I. Operating revenue | 653,050,823.21 | 743,844,065.67 |
Less: Operation cost | 465,367,983.61 | 533,278,383.46 |
Taxes and surcharges | 4,366,015.94 | 5,402,608.47 |
Selling expenses | 54,929,009.03 | 68,121,527.59 |
Administrative expenses | 47,142,099.07 | 65,562,500.28 |
R&D expenses | 51,156,977.29 | 42,654,252.11 |
Financial expenses | 72,483,128.32 | 25,428,042.84 |
Including: interest expenses | 53,825,389.44 | 59,353,054.62 |
interest income | 10,654,831.16 | 34,863,886.90 |
Loss in assets impairment | -573,267.56 | |
Loss on credit impairment | 10,058,187.90 | |
Add: Other incomes | 10,540,000.00 | 5,969,287.05 |
Investment income (losses are represented by “-”) | 26,461,323.35 | 50,428,218.53 |
Including: investment income of associates and joint ventures | ||
Gains on net exposure hedges (losses are represented by “-”) | ||
Income from change in fair value (losses are represented by “-”) | ||
Gain from disposal of assets (losses are represented by “-”) | ||
II. Operating profit (losses are represented by “-”) | -4,819,799.14 | 49,736,068.60 |
Add: non-operating income | 5,432,063.63 | 8,370,547.68 |
Less: non-operating expenses | 1,963,024.43 | 233,919.53 |
III. Total Profit (total losses are represented by “-”) | -1,350,759.94 | 57,872,696.75 |
Less: income tax expense | 1,116,671.73 | |
IV. Net Profit (net losses are represented by “-”) | -1,350,759.94 | 56,756,025.02 |
(I) Net profit from continuous operations (net losses are represented by “-”) | -1,350,759.94 | 56,756,025.02 |
(II) Net profit from discontinuous operations (net losses are represented by “-”) | ||
V. Other comprehensive income, net of tax | 5,214,107.78 | 7,680,578.08 |
(I) Other comprehensive income that cannot be reclassified into the profit or loss | -108,758.38 |
1. Changes arising from re-measurement of defined benefit plans | ||
2. Other comprehensive income that cannot be transferred into profit or loss under equity method | ||
3 Changes in fair value of investments in other equity instruments | -108,758.38 | |
4.Changes in fair value of credit risks of the enterprise | ||
(II) Other comprehensive income to be reclassified into the profit or loss | 5,214,107.78 | 7,789,336.46 |
1. Other comprehensive income that can be transferred into profit or loss under equity method | 5,214,107.78 | 7,789,336.46 |
2. Changes in fair value of other debt investments | ||
3. Gain or loss from changes in fair value of available-for-sale financial assets | ||
4. Reclassified financial assets that are credited to other comprehensive income | ||
5. Gain or loss arising from reclassification from held-to-maturity investments to available-for-sale financial assets | ||
6. Credit impairment provision for other debt investments | ||
7. Reserve for cash flow hedging (Effective portion of gain or loss arising from cash flow hedging) | ||
8. Exchange differences on translation of financial statements denominated in foreign currencies | ||
9. Others | ||
VI. Total comprehensive income | 3,863,347.84 | 64,436,603.10 |
VII. Earnings per share: | ||
(I) Basic earnings per share(RMB/ share) | ||
(II) Diluted earnings per share(RMB/share) |
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Consolidated Cash Flow Statement
January-March 2019Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | First quarter of 2019 | First quarter of 2018 |
I. Cash flows from operating activities: | ||
Cash received from the sale of goods and rendering of services | 49,421,675,912.63 | 45,140,141,162.72 |
Net increase in customer and interbank deposits | ||
Net increase in borrowing from the central bank | ||
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 | ||
Cash received from interest, fee and commissions | ||
Net increase in cash borrowed | ||
Net increase in cash received from repurchase operation | ||
Net cash received from securities trading agency services | ||
Refunds of taxes | 285,338,702.71 | 242,113,942.09 |
Cash received from other related operating activities | 1,096,260,909.89 | 264,852,616.74 |
Sub-total of cash inflows from operating activities | 50,803,275,525.23 | 45,647,107,721.55 |
Cash paid on purchase of goods and services | 37,483,129,681.61 | 32,683,623,829.10 |
Net increase in loans and advances of customers | ||
Net increase in deposits in PBOC and interbank | ||
Cash paid for compensation payments under original insurance contract | ||
Net increase in financial assets held for trading purposes | ||
Net increase in placements with banks | ||
Cash paid for interest, fees and |
commissions | ||
Cash paid for insurance policy dividend | ||
Cash paid to and on behalf of employees | 5,404,866,583.57 | 4,555,705,272.24 |
Cash paid for all types of taxes | 2,063,070,287.30 | 2,205,553,946.08 |
Cash paid to other operation related activities | 4,528,688,984.44 | 4,032,010,132.85 |
Sub-total of cash outflows from operating activities | 49,479,755,536.92 | 43,476,893,180.27 |
Net cash flows from operating activities | 1,323,519,988.31 | 2,170,214,541.28 |
II. Cash flows from investing activities: | ||
Cash received from disposal of investments | 1,006,225,645.16 | 124,427,666.14 |
Cash received from return on investments | 142,671,678.53 | 488,520.47 |
Net cash received from the disposal of fixed assets, intangible assets and other long term assets | 183,509,600.45 | 88,176,463.21 |
Net cash received from disposal of subsidiaries and other operating entities | ||
Cash received from other investment related activities | 4,692,533.64 | 67,249,789.10 |
Sub-total of cash inflows from investing activities | 1,337,099,457.78 | 280,342,438.92 |
Cash paid on purchase of fixed assets, intangible assets and other long term assets | 1,536,865,993.41 | 1,766,703,576.13 |
Cash paid for investments | 2,436,314,478.97 | 251,597,612.40 |
Net increase in secured loans | ||
Net cash paid on acquisition of subsidiaries and other operating entities | 2,642,988,600.64 | |
Cash paid on other investment related activities | 48,510,922.74 | 15,000.00 |
Sub-total of cash outflows from investing activities | 6,664,679,995.76 | 2,018,316,188.53 |
Net cash flows from investing activities | -5,327,580,537.98 | -1,737,973,749.61 |
III. Cash flows from financing activities: | ||
Cash received from capital contributions | 12,389,310.79 | 8,278,135.66 |
Including: cash received from capital contributions by minority shareholders of subsidiaries | ||
Cash received from borrowings | 6,842,877,477.22 | 3,589,764,080.03 |
Cash received from issuing bonds | ||
Cash received from other financing related activities | 119,174,742.18 | |
Sub-total of cash inflows from financing activities | 6,855,266,788.01 | 3,717,216,957.87 |
Cash paid on repayment of borrowings | 3,236,695,125.56 | 5,291,464,063.74 |
Cash paid on distribution of dividends, profits, or interest expenses | 89,327,191.79 | 38,225,632.87 |
Including: dividend and profit paid to minority shareholders by subsidiaries | ||
Cash paid on other financing related activities | 304,245,626.88 | 62,515,783.81 |
Sub-total of cash outflows from financing activities | 3,630,267,944.23 | 5,392,205,480.42 |
Net cash flows from financing activities | 3,224,998,843.78 | -1,674,988,522.55 |
IV. Effect of fluctuations in exchange rates on cash and cash equivalents | -140,942,937.33 | -402,254,739.32 |
V. Net increase in cash and cash equivalents | -920,004,643.22 | -1,645,002,470.20 |
Add: balance of cash and cash equivalents at the beginning of the period | 36,044,777,414.04 | 34,861,907,957.01 |
VI. Balance of cash and cash equivalents at the end of the period | 35,124,772,770.82 | 33,216,905,486.81 |
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Cash Flow Statement of the Parent Company
January-March 2019Prepared by: Qingdao Haier Co., Ltd.
Unit and Currency: RMB Unaudited
Items | First quarter of 2019 | First quarter of 2018 |
I. Cash flows from operating activities: | ||
Cash received from the sale of goods and rendering of services | 453,512,055.88 | 816,513,664.12 |
Refunds of taxes | 2,857,893.58 | 2,249,452.13 |
Cash received from other related operating activities | 12,380,281.31 | 21,182,595.59 |
Sub-total of cash inflows from operating activities | 468,750,230.77 | 839,945,711.84 |
Cash paid on purchase of goods and services | 13,988,526.97 | 221,179,942.07 |
Cash paid to and on behalf of employees | 164,517,087.07 | 131,351,975.78 |
Cash paid for all types of taxes | 15,152,947.75 | 29,006,267.68 |
Cash paid to other operation related activities | 81,138,568.27 | 116,047,065.74 |
Sub-total of cash outflows from operating activities | 274,797,130.06 | 497,585,251.27 |
Net cash flows from operating activities | 193,953,100.71 | 342,360,460.57 |
II. Cash flows from investing activities: | ||
Cash received from disposal of investments | 78,325.00 | |
Cash received from return on investments | 1,232,418,382.82 | 12,000,613.55 |
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 | 1,232,418,382.82 | 12,078,938.55 |
Cash paid on purchase of fixed assets, intangible assets and other long term assets | 18,686,978.91 | 11,279,152.65 |
Cash paid for investments | 2,164,037,398.72 | |
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 | 2,182,724,377.63 | 11,279,152.65 |
Net cash flows from investing activities | -950,305,994.81 | 799,785.90 |
III. Cash flows from financing activities: | ||
Cash received from capital contributions | ||
Cash received from borrowings | ||
Cash received from other financing related activities | 758,777,670.99 | |
Sub-total of cash inflows from financing activities | 758,777,670.99 |
Cash paid on repayment of borrowings | ||
Cash paid on distribution of dividends, profits, or interest expenses | 16,258,125.00 | |
Cash paid on other financing related activities | 2,998,907,357.18 | |
Sub-total of cash outflows from financing activities | 3,015,165,482.18 | |
Net cash flows from financing activities | -3,015,165,482.18 | 758,777,670.99 |
IV. Effect of fluctuations in exchange rates on cash and cash equivalents | -3,064,416.93 | -1,723.67 |
V. Net increase in cash and cash equivalents | -3,774,582,793.21 | 1,101,936,193.79 |
Add: balance of cash and cash equivalents at the beginning of the period | 7,068,899,574.96 | 2,070,527,802.97 |
VI. Balance of cash and cash equivalents at the end of the period | 3,294,316,781.75 | 3,172,463,996.76 |
Legal representative: Liang Haishan Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
1.2 The implementation of the new financial instrumental standards , the new income standards, new leasestandards adjust the first implementation of the relevant items in financial statement at the beginning of year
√Applicable □Not Applicable
The company has implemented the new Financial Instrument Standards and new income standards inadvance since 2018. For details, please refer to the 2018 annual report disclosed on the same day as thisperiodic report. The new lease standards were implemented on 1 January 2019, no retrospectiveadjustments are required for the company's beginning and year-on-year data.
Explanation of the adjustment of each item□Applicable √Not Applicable
Others□Applicable √Not Applicable
1.3 Explanation of the comparative data of prior period in the retrospective adjustment made according to thefirst implementation of the new financial instruments standards and new lease standards.
√Applicable □Not ApplicablePlease refer to the above 1.2.
1.4 Audit report
□Applicable √Not Applicable