老板电器:2019年第三季度报告全文(英文版)

            2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.




Hangzhou Robam Appliances Co., Ltd.

      2019 Third Quarter Report




            October 2019
                                2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.




                        Section 1: Important Notes

The board of directors, the board of supervisors and the directors, supervisors and
senior management of the Company shall guarantee that the contents of the
quarterly report are authentic, accurate and complete, free from false records,
misleading statements Or major omissions, and shall bear individual and joint legal
liabilities.

All directors of the Company personally attended the board meeting to review this
quarterly report.

Ren Jianhua, the head of the Company, Zhang Guofu, the head of accounting work,

and Zhang Guofu, the head of accounting body (accountant in charge), guarantee
the authenticity, accuracy and completeness of the Financial statements in the
quarterly report.




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                                              2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.




                               Section 2: Basic status of company

I.   Major Accounting Data and Financial Indicators

Whether the Company needs to retroactively adjust or restate the accounting data of the previous years
□Yes √No

                                                                                                 Increase/decrease at
                                         End of the reporting                                   the end of this reporting
                                                                      End of previous year
                                                 period                                         period compared to the
                                                                                                end of the previous year

 Total assets (yuan)                        10,073,735,527.84              9,455,361,508.83                       6.54%

 Net assets attributable to
 shareholders of listed companies             6,375,359,070.29             6,045,384,387.57                       5.46%
 (yuan)

                                                                                                       Increase/decreas
                                                                                     From the           e at the end of
                                                            Increase/decreas
                                                                                  beginning of the       the reporting
                                                                 e this year
                                       Reporting period                          year to the end of     period from the
                                                            compared to the
                                                                                   the reporting       beginning of the
                                                                previous year
                                                                                      period           year compared to
                                                                                                       the previous year

 Operating income (yuan)               2,097,606,924.30                10.56%    5,625,020,807.26                 4.29%

 Net profits attributable to
 shareholders of listed companies        415,223,408.27                18.20%    1,085,627,402.47                 7.31%
 (yuan)

 Net profits attributable to
 shareholders of the listed company
                                         410,778,645.33                22.23%    1,033,318,224.34                11.36%
 after deduction of non-recurring
 profits and losses (yuan)

 Net cash flow from operating
                                         376,523,778.18               381.97%    1,035,214,862.76               -13.78%
 activities (yuan)

 Basic EPS (yuan/share)                              0.44              18.92%                   1.14              6.54%

 Diluted EPS (yuan/share)                            0.44              18.92%                   1.14              6.54%

 Weighted average return on net
                                                   6.86%                 0.36%               17.37%               -1.19%
 assets

Non-recurring Profit and Loss Items and Amount
√Applicable □ Not applicable
                                                                                                                 Unit: CNY


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                                                  2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

                                                                           Amount from the beginning
                                Item                                       of the year to the end of the        Description
                                                                                 reporting period

 Profits and losses on the disposal of non-current assets
 (including the write-off part of the provision for asset                                -1,171,725.00
 impairment)

 Government subsidies included into the current profits and
 losses, except those government subsidies, which are closely
 related to the business of a company and enjoyed in                                     61,921,866.87
 accordance with a certain standard quota or quantity of the
 state

 Profits and losses from investment or management assets
                                                                                            4,971,538.56
 entrusted to others

 Income and expenditure other than those mentioned above                                     -915,346.81

 Less: Amount affected by income tax                                                     10,663,221.28

      Amount of minority shareholders' equity affected (after ta x)                         1,833,934.21

 Total                                                                                   52,309,178.13              --

Explain the non-recurrent profit and loss items defined by the Company according to the Interpretative Announcement No.
1 on Information Disclosure of Pub lic Securities Issuing Companies - Non-recurrent Profits and Losses and defined from
the non-recurrent profit and loss items enumerated in the Interpretative Announcement No. 1 on Information Disclosure of
Pub lic Securities Issuing Companies - Non-recurrent Profits and Losses

□ Applicable   √ Not applicable
No definition of non-recurrent profit and loss items defined and enumerated in the Interpretative Announcement No. 1 on
Information Disclosure of Pub lic Securities Issuing Companies - Non-recurrent Profits and Losses as non-recurrent profit
and loss items during the reporting period.


II. Total number of shareholders at the end of the reporting period and shareholding
    of top 10 shareholders

1. Number of common shareholders and preferred shareholders with voting rights
   restored, and shareholdings of the top 10 shareholders

                                                                                                                         Unit: share

                                                                  Total number of preferred
 Total number of common
                                                                  shareholders with voting
 shareholders at the end of                            60,911                                                                   0
                                                                  rights restored at the end of
 the reporting period
                                                                  the reporting period (if any)

                                         Shareholdings of the top 10 shareholders

                                                                                    Number              Pledge or freeze
                                Shareholder       Shareholdi       Number of
   Shareholder's name                                                                  of
                                    nature          ng ratio       shares held                      Status of       Quantity
                                                                                     shares

                                                            Page 4 of 32
                                               2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

                                                                             held         shares
                                                                             with
                                                                            limited
                                                                             sales
                                                                            conditio
                                                                              ns

Hangzhou Robam              Domestic
Industrial Group Co.,       non-state legal       49.68%    471,510,000              0             -             0
Ltd.                        person

Hong Kong Securities        Overseas legal
                                                  11.45%    108,623,698              0             -             0
Clearing Co. Ltd.           person

                            Domestic
Shen Guoying                                       1.29%      12,240,000             0             -             0
                            natural person

China Construction
Bank Co., Ltd. - An xin
Value Selected Stock        Other                  1.19%      11,336,419             0             -             0
Securities Investment
Fund

                            Domestic
Hangzhou Jinchuang
                            non-state legal        1.00%       9,451,985             0             -             0
Investment Co., Ltd.
                            person

Shenzhen Guoshi
Capital Management
Co., Ltd. - Guoshi
Capital - Robam Agent       Other                  0.88%       8,311,165             0             -             0
Holding Stage 2
Structured Private
Equity Fund

Aberdeen Standard
Investments (Asia)
                            Overseas legal
Limited - Aberdeen                                 0.75%       7,079,528             0             -             0
                            person
Global - China A-Shares
Fund

                            Domestic
Hangzhou Yinchuang
                            non-state legal        0.74%       7,020,000             0             -             0
Investment Co., Ltd.
                            person

                            Domestic
Ren Jianhua                                        0.62%       5,923,150             0             -             0
                            natural person

Central Huijin              State legal
                                                   0.60%       5,685,810             0             -             0
Investment Ltd.             person

                          Shareholding of top 10 shareholders with unlimited sales conditions


                                                     Page 5 of 32
                                               2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

                                               Number of shares held with unlimited              Share type
             Shareholder's name
                                                         sales conditions                Share type        Quantity

 Hangzhou Robam Industrial Group Co.,                                                   RMB common
                                                                       471,510,000                       471,510,000
 Ltd.                                                                                   share

                                                                                        RMB common
 Hong Kong Securities Clearing Co. Ltd.                                108,623,698                       108,623,698
                                                                                        share

                                                                                        RMB common
 Shen Guoying                                                           12,240,000                         12,240,000
                                                                                        share

 China Construction Bank Co., Ltd. - An xin
                                                                                        RMB common
 Value Selected Stock Securities Investment                              11,336,419                        11,336,419
                                                                                        share
 Fund

                                                                                        RMB common
 Hangzhou Jinchuang Investment Co., Ltd.                                    9,451,985                         9,451,985
                                                                                        share

 Shenzhen Guoshi Capital Management
 Co., Ltd. - Guoshi Capital - Robam Agent                                               RMB common
                                                                            8,311,165                         8,311,165
 Holding Stage 2 Structured Private Equity                                              share
 Fund

 Aberdeen Standard Investments (Asia)
                                                                                        RMB common
 Limited - Aberdeen Global - China                                          7,079,528                         7,079,528
                                                                                        share
 A-Shares Fund

                                                                                        RMB common
 Hangzhou Yinchuang Investment Co., Ltd.                                    7,020,000                         7,020,000
                                                                                        share

                                                                                        RMB common
 Ren Jianhua                                                                5,923,150                         5,923,150
                                                                                        share

                                                                                        RMB common
 Central Huijin Investment Ltd.                                             5,685,810                         5,685,810
                                                                                        share

                                               The actual controller of the Company’s controlling shareholder
                                               Hangzhou Robam Industrial Group Co., Ltd. and the shareholder
 Description of the above-mentioned
                                               Hangzhou Jinchuang Investment Co., Ltd. is Mr. Ren Jianhua, and the
 shareholder association or concerted action
                                               natural person shareholder Shen Guo Ying is the wife of Ren Jianhua.
                                               The above shareholders have the possibility of acting in unison.

 Securities margin trading business
                                               Not applicable
 attended by top 10 shareholders (if any)

Whether the Company’s top 10 common shareholders and op 10 common shareholders with unlimited sales conditions
agreed on a repurchase transaction during the reporting period
□Yes √No
The Company’s top 10 common shareholders and op 10 common shareholders with unlimited sales conditions did not
agree on a repurchase transaction during the reporting period




                                                     Page 6 of 32
                                    2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

2. Total number of preferred shareholders and the top 10 preferred shareholders’
   shareholdings of the Company

□ Applicable   √ Not applicable




                                          Page 7 of 32
                                                2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.




                                  Section 5: Important Matters

I.   Cases and causes for the change in the main financial data and financial indexes
     during the reporting period

√Applicable □ Not applicable
1.   Balance sheet items
     The monetary capital increased by 47.74% at the end of the reporting period compared to the beginning of the year,
     which was mainly caused by the increase of the company's payment collection and the decrease of the amount of
     money to purchase the bank financial products.
     The advances to suppliers increased by 38.22% at the end of the reporting period compared to the beginning of the
     year, which was mainly caused by the increase in the purchase of raw materials.
     Other current assets decreased by 35.91% at the end of the reporting period compared to the beginning of the year,
     which was mainly caused by the decrease of the bank financing in the current period.
     Available-for-sale financial assets decreased by 100% at the end of the reporting period compared to the beginning
     of the year and other equity instrument investments increased by 100% compared to last year, which were caused
     by the change in the reclassification of items.
     The long-term equity in vestment increased by 81.34% at the end of the reporting period compared to the beginning
     of the year, which was mainly caused by the profit increase of De Dietrich Trade (Shanghai) Co., Ltd. invested by the
     company in the current period.
     The construction in progress increased by 36.58% at the end of the reporting period compared to the beginning of
     the year, which was mainly caused by the infrastructure investment in Maoshan Intelligent Manufacturing Park in the
     current period.
     The long-term unamortized expenses decreas ed by 80.94% at the end of the reporting period compared to the
     beginning of the year, which was mainly caused by the amortization of long -term deferred expenses in previous
     period.
     The accounts payable increased by 31.88% at the end of the reporting perio d compared to the beginning of the year,
     which was mainly caused by the increase in the purchase transactions with the sales revenue in the current period.
     The payroll payable decreased by 90.93% at the end of the reporting period compared to the beginning of the year,
     which was mainly caused by the payment of employee salaries and bonuses last year.
     The tax payable increased by 64.30% at the end of the reporting period compared to the beginning of the year, which
     was mainly caused by the increase in the income tax expenses in the current period.


2.   Income statement items
     The non-operating income decreased by 52.49% in the reporting period compared to the last year, which was mainly
     caused by the decrease of the government subsidies in the current period.
     The non-operating expenditure increased by 217.58% in the reporting period compared to the last year, which was
     mainly caused by the increase of the donation outlay and the scrap of some products in the current period.


3.   Cash flow statement items
     The net cash flow from investment activities decreased by 227.81% in the reporting period compared to the last year,
     which was mainly caused by the company's payment for the investment fund for merger and acquisition of Kinde last

                                                       Page 8 of 32
                                                  2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

        year and no major investment projects in current period.


II. Progress of important matters and their impact and solution analysis

□ Applicable    √ Not applicable
Implementation progress of share repurchase

□ Applicable    √ Not applicable
Implementation progress of reducing repurchased shares by centralized competitive bidding

□ Applicable    √ Not applicable


III. Commitments not fully fulfilled by the Company’s actual controller, shareholders,
     related parties, acquirer and other commitment parties during the reporting
     period

□ Applicable    √ Not applicable
No commitments not fully fulfilled by the Company’s actual controller, shareholders, related parties, acquirer and other
commitment parties during the reporting period


IV. Estimate of annual business performance for 2019

It is estimated that the change rate of the net profits attributable to shareholders of listed companies in 2019 ranges from
2% to 10%


V. Financial assets measured with fair value

□ Applicable    √ Not applicable


VI. Illegal external guarantee

□ Applicable    √ Not applicable

No illegal external guarantee of the Company during the reporting period.


VII. Non-operating occupation of funds of listed companies by controlling
     shareholders and their related parties

□ Applicable    √ Not applicable

No non-operating occupation of funds of listed companies by controlling shareholders and their related parties during the
reporting period.


VIII.        Entrusted financing

√Applicable □ Not applicable

                                                                                                          Unit: 10,000 yuan



                                                        Page 9 of 32
                                                  2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

                           Source of funds for       Amount incurred in                                Overdue amount not
     Specific type                                                            Outstanding balance
                           entrusted financing       entrusted financing                                   recovered

 Bank financial
                          Owned fund                               213,000                 150,000                        0
 products

 Total                                                             213,000                 150,000                        0

Specific circumstance of high-risk entrusted financing with significant single amount or with low security, poor liquidity and
not break-even

□ Applicable   √ Not applicable
The entrusted financing is expected not to recover the principal or has other circumstances that may cause impairment

□ Applicable   √ Not applicable


IX. Registration form of reception, research, communication, interview and other
    activities during the reporting period

√Applicable □ Not applicable

                           Reception      Type of received
    Reception time                                                         Basic information index of the survey
                                 way             object

                                                                See the Record Chart of Investor Relation Activities on
 July 01, 2019            Field survey    Organization
                                                                July 1 and 2, 2019 in cninfo

                                                                See the Record Chart of Investor Relation Activities on
 September 18, 2019       Field survey    Organization
                                                                July 18 and 19, 2019 in cninfo

                                                                See the Record Chart of Investor Relation Activities on
 September 16, 2019       Field survey    Organization
                                                                Septemb er 16 and 17, 2019 in cninfo

                                                                See the Record Chart of Investor Relation Activities on
 September 18, 2019       Field survey    Organization
                                                                Septemb er 18-23, 2019 in cninfo

                                                                See the Record Chart of Investor Relation Activities on
 September 25, 2019       Field survey    Organization
                                                                Septemb er 25, 2019 in cninfo




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                                               2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.




                                Section 4: Financial statements

I.   Financial statements

1. Consolidated Balance Sheet

Unit: Hangzhou Robam Appliances Co., Ltd.
                                                   September 30, 2019

                                                                                                           Unit: yuan

                              Item                              September 30, 2019          December 31, 2018

 Current assets:

     Monetary capital                                                   3,245,449,193.34          2,196,706,808.35

     Deposit reservation for balance

     Lending funds

     Trading financial assets

     Financial assets measured with fair value and with the
     changes included in current profit and loss

     Derivative financial assets

     Notes receivable                                                   1,638,067,218.35          1,268,146,296.01

     Accounts receivable                                                 504,403,716.91            446,773,135.47

     Receivables financing

     Ad vances to suppliers                                               82,223,155.23             59,485,930.70

     Premiums receivables

     Reinsurance accounts receivable

     Provision of cession receivable

     Other receivables                                                    76,297,609.13             70,182,460.52

        Including: Interest receivable

              Dividends receivable

     Redemptory monetary capital for sale

     Inventory                                                          1,252,927,464.66          1,347,112,731.03

     Contract assets

     Assets held for sales

     Non-current assets due within a year

     Other current assets                                               1,661,000,000.00          2,591,760,176.09



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                                                2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

Total current assets                                                   8,460,368,357.62            7,980,167,538.17

Non-current assets:

    Loans and advances

    Debt investment

    Available-for-sale financial assets                                                             119,948,534.00

    Other debt investments

    Held-to-maturity investment

    Long-term receivables

    Long-term equity investment                                            4,747,220.20                2,617,851.16

    Other equity instrument investments                                  119,948,534.00

    Other non-current financial assets

    Investment properties                                                    114,835.04                 121,575.14

    Fixed assets                                                         827,524,982.61             842,877,466.95

    Construction in progress                                             251,902,361.51             184,440,655.49

    Productive biological assets

    Oil and gas assets

    Right-of-use assets

    Intangible assets                                                    188,822,958.40             193,974,179.90

    Development expenditure

    Goodwill                                                              80,589,565.84              80,589,565.84

    Long-term unamortized expenses                                           940,486.63                4,933,280.77

    Deferred income tax assets                                           119,994,530.99              39,564,040.41

    Other non-current assets                                              18,781,695.00                6,126,821.00

Total non-current assets                                               1,613,367,170.22            1,475,193,970.66

Total assets                                                          10,073,735,527.84            9,455,361,508.83

Current liabilities

    Short-term borrowing

    Borrowings from central bank

    Borrowing funds

    Trading financial liabilities

    Financial liabilities measured with fair value and with
    the changes included in current profit and loss

    Derivative financial liabilities

    Notes payable                                                        506,112,976.05             411,414,985.01



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    Accounts payable                                                   1,576,761,406.44            1,195,563,149.37

    Ad vance from customers                                            1,002,475,900.77            1,170,088,458.14

    Contract liabilities

    Financial assets sold for repurchase

    Deposits from customers and interbank

    Acting trading securities

    Acting underwriting securities

    Payroll payable                                                        9,734,481.06             107,349,495.30

    Tax payable                                                          186,071,573.71             113,248,653.85

    Other payables                                                       228,913,042.01             234,490,187.04

         Including: Interest payable

               Dividends payable

    Fees and commissions payable

    Dividend payable for reinsurance

    Liabilities held for sales

    Non-current liabilities due within a year

    Other current liabilities

Total current liabilities                                              3,510,069,380.04            3,232,154,928.71

Non-current liabilities

    Reserve fund for insurance contracts

    Long-term borrowing

    Bonds payable

         Including: preferred stock

               Perpetual bond

    Lease liabilities

    Long-term payable

    Long-term payroll payable

    Estimated liabilities

    Deferred income                                                       78,992,037.91              82,021,091.35

    Deferred income tax liabilities                                        9,476,406.55              10,337,139.79

    Other non-current liabilities

Total non-current liabilities                                             88,468,444.46              92,358,231.14

Total liabilities                                                      3,598,537,824.50            3,324,513,159.85

Owner's equity:



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     Capital stock                                                         949,024,050.00             949,024,050.00

     Other equity instruments

         Including: preferred stock

              Perpetual bond

     Capital reserve                                                       401,799,332.67             401,689,801.42

     Minus: treasury stock                                                                               3,456,989.00

     Other comprehensive income

     Special reserve

     Surplus reserves                                                      474,516,412.50             474,516,412.50

     General risk preparation

     Undistributed profit                                                4,550,019,275.12            4,223,611,112.65

 Total owners' equities attributable to the owners of parent
                                                                         6,375,359,070.29            6,045,384,387.57
 company

     Minority equity                                                        99,838,633.05              85,463,961.41

 Total owners' equities                                                  6,475,197,703.34            6,130,848,348.98

 Total liabilities and owners' equities                                 10,073,735,527.84            9,455,361,508.83


Legal representative: Ren Jianhua         Head of accounting work: Zhang Guofu Head of accounting body: Zhang Guofu


2.     Balance sheet of parent company

                                                                                                              Unit: yuan

                              Item                                 September 30, 2019          December 31, 2018

 Current assets:

     Monetary capital                                                    3,095,127,527.64            2,017,251,340.16

     Trading financial assets

     Financial assets measured with fair value and with the
     changes included in current profit and loss

     Derivative financial assets

     Notes receivable                                                    1,638,067,218.35            1,261,896,296.01

     Accounts receivable                                                   468,545,818.24             438,002,392.66

     Receivables financing

     Ad vances to suppliers                                                 75,845,354.68              48,995,796.40

     Other receivables                                                      54,767,795.54              64,301,240.95

         Including: Interest receivable

              Dividends receivable


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    Inventory                                                          1,188,214,158.25            1,267,525,767.58

    Contract assets

    Assets held for sales

    Non-current assets due within a year

    Other current assets                                               1,500,000,000.00            2,448,736,487.97

Total current assets                                                   8,020,567,872.70            7,546,709,321.73

Non-current assets:

    Debt investment

    Available-for-sale financial assets                                                             119,948,534.00

    Other debt investments

    Held-to-maturity investment

    Long-term receivables

    Long-term equity investment                                          231,253,153.93             224,608,888.64

    Other equity instrument investments                                  119,948,534.00

    Other non-current financial assets

    Investment properties                                                    445,341.88                 470,485.36

    Fixed assets                                                         799,628,406.54             815,345,909.65

    Construction in progress                                             251,675,946.41             184,365,655.49

    Productive biological assets

    Oil and gas assets

    Right-of-use assets

    Intangible assets                                                    159,099,879.95             161,743,355.41

    Development expenditure

    Goodwill

    Long-term unamortized expenses                                           231,915.18                4,933,280.77

    Deferred income tax assets                                           120,584,767.57              38,723,474.50

    Other non-current assets                                              18,781,695.00                6,126,821.00

Total non-current assets                                               1,701,649,640.46            1,556,266,404.82

Total assets                                                           9,722,217,513.16            9,102,975,726.55

Current liabilities

    Short-term borrowing

    Trading financial liabilities

    Financial liabilities measured with fair value and with
    the changes included in current profit and loss



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                                                2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

    Derivative financial liabilities

    Notes payable                                                        505,812,976.05             409,057,910.01

    Accounts payable                                                   1,516,115,738.94            1,158,684,039.60

    Ad vance from customers                                              951,864,889.79            1,067,652,543.09

    Contract liabilities

    Payroll payable                                                           62,564.09              88,814,022.76

    Tax payable                                                          173,930,045.06              99,200,231.67

    Other payables                                                       205,506,081.22             215,230,256.63

         Including: Interest payable

               Dividends payable

    Liabilities held for sales

    Non-current liabilities due within a year

    Other current liabilities

Total current liabilities                                              3,353,292,295.15            3,038,639,003.76

Non-current liabilities

    Long-term borrowing

    Bonds payable

         Including: preferred stock

               Perpetual bond

    Lease liabilities

    Long-term payable

    Long-term payroll payable

    Estimated liabilities

    Deferred income                                                       78,992,037.91              82,021,091.35

    Deferred income tax liabilities

    Other non-current liabilities

Total non-current liabilities                                             78,992,037.91              82,021,091.35

Total liabilities                                                      3,432,284,333.06            3,120,660,095.11

Owner's equity:

    Capital stock                                                        949,024,050.00             949,024,050.00

    Other equity instruments

         Including: preferred stock

               Perpetual bond

    Capital reserve                                                      401,754,349.66             401,644,818.41



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                                                    2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

       Minus: treasury stock                                                                               3,456,989.00

       Other comprehensive income

       Special reserve

       Surplus reserves                                                      474,516,412.50             474,516,412.50

       Undistributed profit                                                4,464,638,367.94            4,160,587,339.53

 Total owners' equities                                                    6,289,933,180.10            5,982,315,631.44

 Total liabilities and owners' equities                                    9,722,217,513.16            9,102,975,726.55


3.      Consolidated income statement in this reporting period

                                                                                                                Unit: yuan

                                                                   Amount incurred in current     Amount incurred in
                                Item
                                                                            period                 previous period

 I.     Total operating income                                             2,097,606,924.30            1,897,226,702.39

       Including: Operating income                                         2,097,606,924.30            1,897,226,702.39

              Interest revenue

              Premium earned

              Fee and commission income

 II.    Total operating costs                                              1,626,491,205.87            1,540,956,134.57

       Including: Operating costs                                            929,416,753.92             890,372,953.14

              Interest expenditure

              Fee and commission expense

              Surrender value

              Net payments for insurance claims

              Net reserve fund extracted for insurance liability

              Bond insurance expense

              Reinsurance costs

              Taxes and surcharges                                            16,898,617.83              15,144,024.00

              Selling expenses                                               566,766,627.49             530,494,123.51

              Management costs                                                67,127,915.14              64,363,432.80

              Research and development expenses                               76,250,213.58              71,418,205.97

              Financial expenses                                             -29,968,922.10              -30,836,604.85

                  Including: interest expenditure

                         Interest revenue                                     29,217,382.55              30,076,489.36

       Plus: other incomes                                                     3,751,701.65                3,795,700.21



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                                                      2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

              Income from investment (loss expressed with
                                                                                25,609,237.33              34,848,138.32
              “-”)

              Including: Income from investment of joint
                                                                                 2,060,171.09                  -12,581.48
              venture and cooperative enterprise

                       Income from derecognition of financial
                       assets measured at amortized cost

              Exchange gain (loss expressed with “-”)

              Net exposure hedging gain (loss expressed with
              “-”)

              Income from fair value changes (loss expressed
              with “-”)

              Credit impairment losses (loss expressed with
                                                                                  -654,094.55
              “-”)

              Assets impairment losses (loss expressed with
                                                                                                             6,844,425.59
              “-”)

              Income from disposal of assets (loss expressed
                                                                                   330,810.85                   48,510.44
              with “-”)

III.    Operating profits (loss expressed with “-”)                          500,153,373.71             401,807,342.38

       Plus: Non-operating income                                                1,516,796.98                 908,976.86

       Less: non-operating expenditure                                           1,002,387.45                   95,558.47

IV.     Total profits (total loss expressed with “-”)                        500,667,783.24             402,620,760.77

       Less: Income tax e xpenses                                               78,082,299.02              46,683,146.64

V.      Net profits (net loss expressed with “-”)                            422,585,484.22             355,937,614.13

       i. Classified by business continuity

          1. Net profits from going concern (net loss
                                                                               422,585,484.22             355,937,614.13
              expressed with “-”)

          2. Net profits from discontinuing operation (net loss
              expressed with “-”)

       ii. Classified by ownership

          1. Net owners' profits attributable to the owners of
                                                                               415,223,408.27             351,293,563.34
              parent company

          2. * Minority interest income                                          7,362,075.95                4,644,050.79

VI.     Net of tax of other comprehensive income

     Net amount of other comprehensive income after tax
     attributed to parent company owners

       i. Other comprehensive income that can't be
          reclassified into profit and loss



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                                                  2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

        1. Remeasure the variation of net indebtedness or
            net asset of defined benefit plan

        2. Other comprehensive income that can't be
            reclassified into profit and loss in the invested
            enterprise under equity method

        3. Fair value change of other equity instrument
            investments

        4. Fair value change of enterprise credit risks

        5. Other

     ii. Other comprehensive income that will be
        reclassified into profit and loss

        1. Other comprehensive income that will be
            reclassified into profit and loss in the invested
            enterprise under equity method

        2. Fair value change of other debt investments

        3. Changes in fair value through profit and loss of
            available-for-sale financial assets

        4. Amount of financial assets reclassified into other
            comprehensive income

        5. Held-to-maturity investment reclassified into
            available-for-sale financial assets

        6. Provision for credit impairment of other debt
            investments

        7. Cash flow hedging reserve

        8. Balance arising from the translation of foreign
            currency financial statements

        9. Other

   Net amount of other comprehensive income after tax
   attributed to minority shareholders

 VII. Total comprehensive income                                           422,585,484.22              355,937,614.13

     Total comprehensive income belonging to parent
                                                                           415,223,408.27              351,293,563.34
     company

     Total comprehensive income attributed to minority
                                                                             7,362,075.95                 4,644,050.79
     shareholders

 VIII. Earnings per share:

     i. Basic EPS                                                                     0.44                         0.37

     ii. Diluted EPS                                                                  0.44                         0.37

In case of business combination involving enterprises under common control in this period, the net profits achieved by the

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combined enterprise before combination were RMB              and achieved by the combined enterprise in previous period were
RMB                  .


Legal representative: Ren Jianhua            Head of accounting work: Zhang Guofu   Head of accounting body: Zhang Guofu


4.      Income statement of parent company in this reporting period

                                                                                                                   Unit: yuan

                                                                    Amount incurred in current      Amount incurred in
                                  Item
                                                                              period                  previous period

 I.     Operating income                                                     1,913,478,145.97            1,727,137,272.30

       Subtract: Operating costs                                               870,660,956.25              827,910,952.66

            Taxes and surcharges                                                14,928,367.84               13,704,788.27

            Selling expenses                                                   494,289,468.62              459,765,926.40

            Management costs                                                    46,258,967.41               48,036,306.77

            Research and development expenses                                   74,014,215.72               69,187,392.44

            Financial expenses                                                 -29,842,457.70              -27,301,366.88

               Including: interest expenditure

                          Interest revenue                                      28,950,692.46               26,427,376.40

       Plus: other incomes                                                       3,432,351.15                2,495,403.38

            Income from investment (loss expressed with “-”)                  23,532,336.60               34,848,138.32

            Including: Income from investment of joint
                                                                                 1,364,267.48                   -12,581.48
            venture and cooperative enterprise

               Income from derecognition of financial assets
               measured at amortized cost

            Net exposure hedging gain (loss expressed with
            “-”)

            Income from fair value changes (loss expressed
            with “-”)

            Credit impairment losses (loss expressed with “-”)                -1,347,328.85

            Assets impairment losses (loss expressed with
                                                                                                             6,486,076.46
            “-”)

            Income from disposal of assets (loss expressed
                                                                                       51,884.79                48,510.44
            with “-”)

 II.    Operating profits (loss expressed with “-”)                          468,837,871.52              379,711,401.24

       Plus: Non-operating income                                                1,450,130.00                  909,578.60

       Less: non-operating expenditure                                                 75,873.91                86,238.94



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III.    Total profits (total loss expressed with “-”)                        470,212,127.61             380,534,740.90

       Less: Income tax e xpenses                                               70,416,452.79              43,236,772.23

IV.     Net profits (net loss expressed with “-”)                            399,795,674.82             337,297,968.67

       i. Net profits from going concern (net loss expressed
                                                                               399,795,674.82             337,297,968.67
          with “-”)

       ii. Net profits from discontinuing operation (net loss
          expressed with “-”)

V.      Net of tax of other comprehensive income

       i. Other comprehensive income that can't be
          reclassified into profit and loss

               1. Remeasure the variation of net
                    indebtedness or net asset of defined benefit
                    plan

               2. Other comprehensive income that can't be
                    reclassified into profit and loss in the
                    invested enterprise under equity method

               3. Fair value change of other equity instrument
                    investments

               4. Fair value change of enterprise credit risks

               5. Other

       ii. Other comprehensive income that will be
          reclassified into profit and loss

               1. Other comprehensive income that will be
                    reclassified into profit and loss in the
                    invested enterprise under equity method

               2. Fair value change of other debt investments

               3. Changes in fair value through profit and loss
                    of available-for-sale financial assets

               4. Amount of financial assets reclassified into
                    other comprehensive income

               5. Held-to-maturity investment reclassified into
                    available-for-sale financial assets

               6. Provision for credit impairment of other debt
                    investments

               7. Cash flow hedging reserve

               8. Balance arising from the translation of
                    foreign currency financial statements

               9. Other


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 VI.    Total comprehensive income                                           399,795,674.82           337,297,968.67

 VII. Earnings per share:

       i. Basic EPS

       ii. Diluted EPS


5.      Consolidated Statement of Income from the beginning of the year to the end of
        the reporting period

                                                                                                              Unit: yuan

                                                                   Amount incurred in current   Amount incurred in
                                Item
                                                                            period               previous period

 I.     Total operating income                                             5,625,020,807.26          5,393,889,267.86

       Including: Operating income                                         5,625,020,807.26          5,393,889,267.86

              Interest revenue

              Premium earned

              Fee and commission income

 II.    Total operating costs                                              4,439,593,417.70          4,354,495,704.86

       Including: Operating costs                                          2,528,818,716.74          2,519,018,355.86

              Interest expenditure

              Fee and commission expense

              Surrender value

              Net payments for insurance claims

              Net reserve fund extracted for insurance liability

              Bond insurance expense

              Reinsurance costs

              Taxes and surcharges                                            46,357,616.21            48,853,295.63

              Selling expenses                                             1,556,811,534.10          1,495,239,191.95

              Management costs                                               183,299,443.91           189,057,262.33

              Research and development expenses                              183,879,999.71           181,241,873.33

              Financial expenses                                             -59,573,892.97            -78,914,274.24

               Including: interest expenditure                                   201,831.98

                         Interest revenue                                     59,525,309.87            78,194,467.53

       Plus: other incomes                                                    60,590,883.49            63,319,835.29

            Income from investment (loss expressed with “-”)                65,468,211.82            75,618,417.94

            Including: Income from investment of joint venture
                                                                               2,129,369.04               643,022.56
            and cooperative enterprise


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                     Income from derecognition of financial assets
                     measured at amortized cost

            Exchange gain (loss expressed with “-”)

            Net exposure hedging gain (loss expressed with
            “-”)

            Income from fair value changes (loss expressed
            with “-”)

            Credit impairment losses (loss expressed with “-”)                    -9,606,123.78

            Assets impairment losses (loss expressed with
                                                                                                                -1,741,053.34
            “-”)

            Income from disposal of assets (loss expressed
                                                                                        34,138.62                  111,267.72
            with “-”)

III.    Operating profits (loss expressed with “-”)                            1,301,914,499.71            1,176,702,030.61

       Plus: Non-operating income                                                    3,128,743.07                6,585,510.73

       Less: non-operating expenditure                                               3,884,831.50                1,223,275.90

IV.     Total profits (total loss expressed with “-”)                          1,301,158,411.28            1,182,064,265.44

       Less: Income tax e xpenses                                                  201,156,337.17             165,791,085.97

V.      Net profits (net loss expressed with “-”)                              1,100,002,074.11            1,016,273,179.47

       i. Classified by business continuity

               1.      Net profits from going concern (net loss
                                                                                 1,100,002,074.11            1,016,273,179.47
                        expressed with “-”)

               2.      Net profits from discontinuing operation
                        (net loss expressed with “-”)

       ii. Classified by ownership

               1.      Net owners' profits attributable to the
                                                                                 1,085,627,402.47            1,011,633,069.40
                        owners of parent company

               2.      * Minority interest income                                   14,374,671.64                4,640,110.07

VI.     Net of tax of other comprehensive income

Net amount of other comprehensive income after tax
attributed to parent company owners

       i. Other comprehensive income that can't be
          reclassified into profit and loss

               1.      Remeasure the variation of net
                        indebtedness or net asset of defined
                        benefit plan

               2.      Other comprehensive income that can't be
                        reclassified into profit and loss in the



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                                                    2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

                    invested enterprise under equity method

            3.   Fair value change of other equity
                    instrument investments

            4.   Fair value change of enterprise credit risks

            5.   Other

     ii. Other comprehensive income that will be
        reclassified into profit and loss

            1.   Other comprehensive income that will be
                    reclassified into profit and loss in the
                    invested enterprise under equity method

            2.   Fair value change of other debt
                    investments

            3.   Changes in fair value through profit and
                    loss of available-for-sale financial assets

            4.   Amount of financial assets reclassified into
                    other comprehensive income

            5.   Held-to-maturity investment reclassified
                    into available-for-sale financial assets

            6.   Provision for credit impairment of other
                    debt investments

            7.   Cash flow hedging reserve

            8.   Balance arising from the translation of
                    foreign currency financial statements

            9.   Other

 Net amount of other comprehensive income after tax
 attributed to minority shareholders

 VII. Total comprehensive income                                               1,100,002,074.11            1,016,273,179.47

     Total comprehensive income belonging to parent
                                                                               1,085,627,402.47            1,011,633,069.40
     company

     Total comprehensive income attributed to minority
                                                                                  14,374,671.64                 4,640,110.07
     shareholders

 VIII. Earnings per share:

     i. Basic EPS                                                                           1.14                        1.07

     ii. Diluted EPS                                                                        1.14                        1.07

In case of business combination involving enterprises under common control in this period, the net profits achieved by the
combined enterprise before combination were RMB                and achieved by the combined enterprise in previous period were
RMB .




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Legal     representative:         Ren          Head of accounting work: Zhang Guofu                Head of accounting body:
Jianhua                                                                                                        Zhang Guofu


6.      Income statement of parent company from the beginning of the year to the end
        of the reporting period

                                                                                                                  Unit: yuan

                                                                     Amount incurred in current     Amount incurred in
                                   Item
                                                                              period                 previous period

 I.     Operating income                                                     5,173,271,472.64            5,019,021,362.42

       Subtract: Operating costs                                             2,378,159,108.17            2,399,568,710.77

            Taxes and surcharges                                                41,260,532.79              44,613,880.30

            Selling expenses                                                 1,362,174,692.49            1,318,201,993.38

            Management costs                                                   127,376,083.37             133,529,192.15

            Research and development expenses                                  177,725,385.19             179,011,059.80

            Financial expenses                                                 -57,647,916.09              -74,727,743.91

               Including: interest expenditure                                     201,831.98

                          Interest revenue                                      57,198,018.80              73,704,782.57

       Plus: other incomes                                                      55,342,033.44              61,726,939.46

            Income from investment (loss expressed with “-”)                  60,496,673.26              75,618,417.94

            Including: Income from investment of joint venture
                                                                                 2,129,369.04                 643,022.56
            and cooperative enterprise

                     Income from derecognition of financial assets
                     measured at amortized cost

            Net exposure hedging gain (loss expressed with
            “-”)

            Income from fair value changes (loss expressed
            with “-”)

            Credit impairment losses (loss expressed with “-”)               -10,495,755.49

            Assets impairment losses (loss expressed with
                                                                                                            -1,159,416.88
            “-”)

            Income from disposal of assets (loss expressed
                                                                                   -244,787.44                 111,267.72
            with “-”)

 II.    Operating profits (loss expressed with “-”)                        1,249,321,750.49            1,155,121,478.17

       Plus: Non-operating income                                                2,975,654.06                1,304,711.39

       Less: non-operating expenditure                                           1,169,135.48                1,200,624.10



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III.    Total profits (total loss expressed with “-”)                        1,251,128,269.07          1,155,225,565.46

       Less: Income tax e xpenses                                               187,858,000.66            159,784,888.28

IV.     Net profits (net loss expressed with “-”)                            1,063,270,268.41           995,440,677.18

       i. Net profits from going concern (net loss expressed
                                                                               1,063,270,268.41           995,440,677.18
          with “-”)

       ii. Net profits from discontinuing operation (net loss
          expressed with “-”)

V.      Net of tax of other comprehensive income

       i. Other comprehensive income that can't be
          reclassified into profit and loss

               1. Remeasure the variation of net
                    indebtedness or net asset of defined benefit
                    plan

               2. Other comprehensive income that can't be
                    reclassified into profit and loss in the
                    invested enterprise under equity method

               3. Fair value change of other equity instrument
                    investments

               4. Fair value change of enterprise credit risks

               5. Other

       ii. Other comprehensive income that will be
          reclassified into profit and loss

               1. Other comprehensive income that will be
                    reclassified into profit and loss in the
                    invested enterprise under equity method

               2. Fair value change of other debt investments

               3. Changes in fair value through profit and loss
                    of available-for-sale financial assets

               4. Amount of financial assets reclassified into
                    other comprehensive income

               5. Held-to-maturity investment reclassified into
                    available-for-sale financial assets

               6. Provision for credit impairment of other debt
                    investments

               7. Cash flow hedging reserve

               8. Balance arising from the translation of
                    foreign currency financial statements

               9. Other


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 VI.    Total comprehensive income                                          1,063,270,268.41           995,440,677.18

 VII. Earnings per share:

       i. Basic EPS

       ii. Diluted EPS


7.       Consolidated statement of cash flow from the beginning of the year to the end
         of the reporting period

                                                                                                               Unit: yuan

                                                                      Amount incurred in        Amount incurred in
                               Item
                                                                          current period          previous period

 I.     Cash flow from operating activities:

       Cash from selling commodities or offering labor                      5,597,588,789.97          6,295,843,787.05

       Net increase of customer deposit and deposit from
       other banks

       Net increase of borrowings from central bank

       Net increase of borrowing funds from other financial
       institutions

       Cash from obtaining original insurance contract
       premium

       Cash received from insurance premium of original
       insurance contract

       Net increase of deposit and investment of insured

       Cash from interest, handling charges and commissions

       Net increase of borrowing funds

       Net increase of repurchase of business funds

       Net cash from acting trading securities

       Refund of tax and levies                                                   548,519.01               821,982.79

       Other cash received related to operating activities                    137,720,406.72           179,718,177.48

 Subtotal cash inflows from operating activities                            5,735,857,715.70          6,476,383,947.32

       Cash paid for selling commodities or offering labor                  2,348,446,926.51          2,745,280,576.69

       Net increase of customer loans and advances

       Net increase of amount due from central bank and
       interbank

       Cash paid for original insurance contract claims
       payment

       Net increase of lending funds


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                                                   2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

       Cash paid for interest, handling charges and
       commissions

       Cash paid for policy dividend

       Cash paid to and for employees                                       522,706,852.79             523,236,997.93

       Taxes and fees paid                                                  627,369,800.29             606,251,771.34

       Other cash paid related to operating activities                    1,202,119,273.35            1,400,953,957.63

Subtotal cash outflows from operating activities                          4,700,642,852.94            5,275,723,303.59

Net cash flow from operating activities                                   1,035,214,862.76            1,200,660,643.73

II.     Cash flow from investment activities:

       Cash from investment withdrawal                                    2,487,500,000.00            2,221,397,302.46

       Cash from investment income                                           72,410,430.17              72,135,686.92

       Net cash from disposal of fixed assets, intangible
                                                                                517,944.71                 150,287.23
       assets and other long-term assets

       Net cash received from the disposal of subsidiaries and
       other business entities

       Other cash received related to investment activities

Subtotal cash inflows from investment activities                          2,560,428,374.88            2,293,683,276.61

       Cash paid for the purchase and construction of fixed
                                                                            210,767,796.17             108,113,334.10
       assets, intangible assets and other long term assets

       Cash paid for investment                                           1,578,500,000.00            2,775,000,000.00

       Net cash received from reinsurance business

       Net cash paid for obtaining subsidiaries and other
                                                                              5,000,000.00
       business units

       Other cash paid related to investment activities                                                 10,000,000.00

Subtotal cash outflows from investment activities                         1,794,267,796.17            2,893,113,334.10

Net cash flow from investment activities                                    766,160,578.71             -599,430,057.49

III.    Cash flow from financing activities:

       Receipts from equity securities

       Including: Cash received from subsidies’ absorption of
       minority shareholders’ investment

       Cash received from borrowings

       Other cash received related to financing activities

Subtotal cash inflows from financing activities

       Cash repayments of amounts borrowed

       Cash paid for distribution of dividends or profits and for
                                                                            759,219,240.00             711,774,618.75
       interest expenses


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       Including: Dividends and profits paid by subsidiaries to
       minority shareholders

       Other cash paid related to financing activities                                                       83,011.50

 Subtotal cash outflows from financing activities                            759,219,240.00            711,857,630.25

 Net cash flow from financing activities                                    -759,219,240.00            -711,857,630.25

 IV.    Impact of exchange rate movements on cash and
                                                                                 777,298.72                873,122.97
        cash equivalents

 V.     Net increase of cash and cash equivalents                          1,042,933,500.19            -109,753,921.04

       Plus: Balance of cash and cash equivalents at the
                                                                           2,177,219,858.85           2,562,793,610.66
       beginning of the period

 VI.    Balance of cash and cash equivalents at the
                                                                           3,220,153,359.04           2,453,039,689.62
        beginning of the period


8.      Cash flow statement of parent company from the beginning of the year to the
        end of the reporting period

                                                                                                               Unit: yuan

                                                                     Amount incurred in          Amount incurred in
                                 Item
                                                                         current period           previous period

 I.     Cash flow from operating activities:

       Cash from selling commodities or offering labor                     5,177,455,334.94           5,921,601,353.11

       Refund of tax and levies

       Other cash received related to operating activities                   115,072,030.83            145,771,354.01

 Subtotal cash inflows from operating activities                           5,292,527,365.77           6,067,372,707.12

       Cash paid for selling commodities or offering labor                 2,258,792,791.19           2,705,690,831.41

       Cash paid to and for employees                                        408,109,017.82            419,964,548.20

       Taxes and fees paid                                                   566,307,011.96            549,632,416.57

       Other cash paid related to operating activities                     1,025,411,970.55           1,180,706,529.66

 Subtotal cash outflows from operating activities                          4,258,620,791.52           4,855,994,325.84

 Net cash flow from operating activities                                   1,033,906,574.25           1,211,378,381.28

 II.    Cash flow from investment activities:

       Cash from investment withdrawal                                     2,130,000,000.00           2,221,397,302.46

       Cash from investment income                                            67,438,891.61             72,135,686.92

       Net cash from disposal of fixed assets, intangible
                                                                                 517,944.71                150,287.23
       assets and other long-term assets

       Net cash received from the disposal of subsidiaries and
       other business entities


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        Other cash received related to investment activities

 Subtotal cash inflows from investment activities                          2,197,956,836.32            2,293,683,276.61

        Cash paid for the purchase and construction of fixed
                                                                             194,211,274.34             107,410,121.49
        assets, intangible assets and other long term assets

        Cash paid for investment                                           1,204,500,000.00            2,887,320,000.00

        Net cash paid for obtaining subsidiaries and other
                                                                               5,000,000.00
        business units

        Other cash paid related to investment activities                                                 10,000,000.00

 Subtotal cash outflows from investment activities                         1,403,711,274.34            3,004,730,121.49

 Net cash flow from investment activities                                    794,245,561.98             -711,046,844.88

 III.    Cash flow from financing activities:

        Receipts from equity securities

        Cash received from borrowings

        Other cash received related to financing activities

 Subtotal cash inflows from financing activities

        Cash repayments of amounts borrowed

        Cash paid for distribution of dividends or profits and for
                                                                             759,219,240.00             711,774,618.75
        interest expenses

        Other cash paid related to financing activities                                                       83,011.50

 Subtotal cash outflows from financing activities                            759,219,240.00             711,857,630.25

 Net cash flow from financing activities                                    -759,219,240.00             -711,857,630.25

 IV.     Impact of exchange rate movements on cash and
                                                                                 777,331.45                 873,049.89
         cash equivalents

 V.      Net increase of cash and cash equivalents                         1,069,710,227.68             -210,653,043.96

        Plus: Balance of cash and cash equivalents at the
                                                                           2,000,183,395.66            2,411,423,559.90
        beginning of the period

 VI.     Balance of cash and cash equivalents at the
                                                                           3,069,893,623.34            2,200,770,515.94
         beginning of the period


II. Statement of adjustment to financial statements

1.       Adjustment of relevant items in financial statements at the beginning of the implementation
         year as a result of imple mentation of new financial instrument standards, new income
         standards and new release standards from 2019

√Applicable □ Not applicable

Consolidated Balance Sheet
                                                                                                                Unit: yuan

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                                                 2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

             Item                 December 31, 2018                 January 01, 2019                   Adjusted figure

     Available-for-sale
                                           119,948,534.00                                 0.00              -119,948,534.00
      financial assets

  Other equity instrument
                                                       0.00                119,948,534.00                   119,948,534.00
        investments


Balance sheet of parent company

                                                                                                                    Unit: yuan

             Item                 December 31, 2018                 January 01, 2019                   Adjusted figure

     Available-for-sale
                                           119,948,534.00                                 0.00              -119,948,534.00
      financial assets

  Other equity instrument
                                                       0.00                119,948,534.00                   119,948,534.00
        investments




2.     Retrospective adjustment of early comparative data description as a result of
       implementation of new financial instrument standards or new release standards from 2019

√Applicable □ Not applicable

The Company designates some non-transactional equity investments to be held on and after January 1, 2019 as the
financial assets measured at fair value of which changes are recorded into other comprehensive income, and presented
as other equity instrument investments.

On the first implementation date, the book value of the original financial assets is adjusted to a reconciliation statement o f
the book value of the new financial assets classified and measured in accordance with the new financial instrument
standards.

Impact on consolidated financial statements

                    Item                      December 31, 2018        Reclassification     Remeasurem     January 01, 2019
                                               (Before change)                                   ent         (After change)

Available-for-sale financial assets                 119,948,534.00
(original standards)

Less: those transferred to other equity                                 119,948,534.00
instrument investments

Other equity instrument investments

Plus: those transferred from                                            119,948,534.00
available-for-sale financial assets
(original standards)

Amount presented according to new                                                                              119,948,534.00
financial instrument standards

      Impact on the Company’s financial statements


                                                       Page 31 of 32
                                                 2019 Third Quarter Full Report for Hangzhou Robam Appliances Co., Ltd.

                   Item                       December 31, 2018       Reclassification   Remeasurem   January 01, 2019
                                               (Before change)                              ent        (After change)

Available-for-sale financial assets                119,948,534.00
(original standards)

Less: those transferred to other equity                                119,948,534.00
instrument investments

Other equity instrument investments

Plus: those transferred from                                           119,948,534.00
available-for-sale financial assets
(original standards)

Amount presented according to new                                                                        119,948,534.00
financial instrument standards




III. Audit Report

Whether the third quarter report is audited
□Yes √No

The Company's third quarter report is unaudited.




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