Haier Smart Home Co., Ltd. 2023 Third Quarter Report
Stock Code: 600690 Short Name: Haier Smart Home
Haier Smart Home Co., Ltd.
The Board of Directors (the “Board”) and the Directors of Haier Smart Home Co., Ltd. (the “Company”) hereby
assure that this announcement is free from any false record, misleading representation or material omission and are
legally responsible for the trueness, accuracy and completeness of the content set out herein.
Important Notice:
The board of directors (the “Board”), the board of supervisors, directors, supervisors, and senior management of
the Company hereby assure that the content set out in the quarterly report is true, accurate and complete, and free from
any false record, misleading representation or material omission, and are individually and collectively responsible for
the content set out therein.
The legal representative of the Company, chief financial officer of the Company and person in charge of accounting
department hereby certify that the financial information set out in the quarterly report is true, accurate and complete.
Whether the third quarterly report has been audited or not
□Yes √No
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
I. Key Financial Information
(I) Major accounting data and financial indicators
Unit and Currency: RMB
Year-on-year
Year-on-year increase/decrease
increase/decrease From the from the beginning
For the corresponding For the corresponding period
during the beginning of of the year to the
During the period of last year of last year
Reporting Period the year to the end of the
Items Reporting (%) Reporting Period
end of the
Period (%)
Reporting
Period
Before After After Before After
adjustment adjustment adjustment adjustment adjustment After adjustment
Operating revenue 67,030,721,048.16 6.12 198,657,302,554.72 7.50
Net profit attributable
to shareholders of 3,716,522,018.5 3,706,330,074.3
the listed 4,185,343,372.78 12.92 13,149,219,372.62 11,665,606,491.29 11,666,014,116.96 12.71
Company 9 1
Net profit after
deduction of non-
recurring profit or 3,730,558,477.2 3,730,558,477.2
loss attributable 4,116,766,925.02 10.35 12,720,744,689.60 11,221,252,182.63 11,221,252,182.63 13.36
to shareholders of the 5 5
listed Company
Net cash flow from
operating N/A N/A N/A N/A 13,203,115,800.79 11,205,073,837.77 11,251,205,835.72 17.35
activities
Basic earnings per
share (RMB per 0.44 0.40 0.40 10.00 1.41 1.25 1.25 12.80
share)
Diluted earnings per
share (RMB per 0.45 0.39 0.39 15.38 1.41 1.24 1.24 13.71
share)
Weighted average
increased 0.25 increased 0.18
return on net 4.16 3.91 3.91 13.32 13.15 13.14
assets (%) percentage point percentage point
Increase/decrease at the end of
At the end of the Reporting At the end of last year the Reporting Period compared to
Period the end of last year (%)
Before adjustment After adjustment After adjustment
Total assets 245,891,519,568.64 235,842,254,826.77 235,938,042,474.57 4.22
Owner equity
attributable to
shareholders of 100,316,122,311.76 93,422,647,664.43 93,454,454,213.67 7.34
the listed
Company
Note: “Reporting Period” refers to the three-month period commencing from the beginning of this quarter to the end
of this quarter.
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
Reasons for retrospective adjustment or restatement:
In the first quarter of 2023, the Company completed the acquisition of the equity in Shanghai Haier Smart Technology
Co., Limited (上海海爾智能科技有限公司). The transaction was accounted for as a business combination under
common control in accordance with relevant accounting standards in the consolidated financial statements and
accordingly, the comparative figures for the corresponding period were adjusted and restated.
During the reporting period, the Company leveraged its diverse range of brands to capitalize on growth opportunities
across various market segments. It gained market share in overseas markets through its high-end brand strategy and the
expansion of distribution networks. The Company prioritized end-to-end digitalization to enhance operational efficiency.
During the reporting period, the Company’s revenue steadily increased, and profitability continued to improve.
Key Performance Indicators
I. Revenue and profit
In the first three quarters of 2023, the Company achieved revenue of RMB 198.657 billion, net profit attributable to the
owners of the parent company of RMB 13.149 billion, and net profit attributable to owners of the parent company after
deduction of non-recurring profit or loss of RMB 12.721 billion, representing growth of 7.5%, 12.7% and 13.4%
respectively as compared to the corresponding period of 2022.
In the third quarter alone, the Company realized revenue of RMB 67.030 billion, net profit attributable to the owners of
the parent company of RMB 4.185 billion, and net profit attributable to owners of the parent company after deduction
of non-recurring profit or loss of RMB 4.117 billion, representing an increase of 6.1%, 12.9% and 10.4% respectively
as compared to the corresponding period of 2022.
(I) Smart Home Business in China
In the third quarter, the Company continues to grow market share in refrigerators, washing machines and water heater
& purifier, while maintaining solid performance in air conditioners, smart buildings, and kitchen appliances.
The refrigerator business led the industry in the integration of home appliance with furnishing by launching F+ and
sales revenue. The washing machine business accelerated retail transformation to boost operation efficiency.
Casarte's Zhongzi (中子) F2 washer-dryer combo and Gemini T5 (T5 双子分区洗) washer were introduced to create
innovative laundry experience with flat built-in designs. Water heater and purifier business developed leading
product platform with cutting-edge technologies such as electric crystal tanks, hybrid gas heating, and zinc-strontium
mineral water purification. It also implemented digital management across the entire product life cycle to increase the
output of individual model.
The kitchen appliance business launched Nebula (星雲) and Tranquility (致境) set to enhance Casarte's product lineup.
It also developed partnerships from cabinet and home improvement industries, and accelerated e-commerce revenue
growth by expanding offerings online. The residential air conditioning business underwent transformations in R&D,
distribution network, retail capability, supply chain cost management and organizational efficiency to improve users’
and distributors’ recognition and realized solid growth. Leveraging advantages in Heating Ventilation and Air
Conditioning(HVAC) industry, the smart building business developed growth opportunities in heat pump and smart
building management. In order to develop its one-stop low-carbon energy solutions business, the Company completed
the acquisition of Tongfang Energy Technology Development Company in September 2023, whose technical expertise
and experience in heat supply solutions could enhance the Company's integrated heating and cooling services, clean
energy and waste heat recovery solutions.
SAN YI NIAO focused on improving its design and delivery capabilities. By providing online design tools for home
appliance product suites and introducing "Delivery on Wings" scenario delivery tool, it improved user experience during
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
transaction, interaction, design, and delivery process, which drove the sales of home appliance product suites with
enhanced user value.
(II) Overseas home appliances and smart home businesses
During the reporting period, the Company strengthened its high-end brand strategy and achieved steady growth through
enhancing brand images, launching best-selling products, and pursuing opportunities in new categories.
In the North American region, the Company continues to expand its innovation leadership by launching new, high-
end products such as a multi-door refrigerator with an internal water dispenser and the next-generation stainless steel
dishwasher with Microban® Antimicrobial Technology and Smart Assist features. The Company also introduced
ClearViewTM Smart Ultra Quiet window air conditioner, RV air conditioner, ducted units, and a variety of commercial
air conditioners, expanding the AIR and Water unit to unlock new business opportunities. At the same time, cross-
functional teams continue to collaborate and aspire to be best in class on order-to-cash processes and operation
efficiencies, which in return could better serve our customers and consumers. The company's innovative vitality earned
it a spot in Fortune Magazine's "Best Places to Work in Manufacturing and Production" and Fast Company's "Best
Places to Work for Innovators" during the reporting period.
In the European market, the Company continued to pursue brand premiumization: Haier brand launched new range of
high-end built-in products and raise its price index to 115. The Company also unveiled New Candy series at IFA Berlin
in September 2023. This lineup featured high-end products including Fresco smart refrigerator and Rapidò dishwasher,
both with class A energy efficiency grade, along with a new range of smart ovens. The Company also made efforts to
raise its profile by becoming the official partner of the prestigious Roland-Garros Tournament and the ATP (Association
of Tennis Professionals)Tour.
II. Gross Profit Margin
The gross profit margin in the first three quarters of 2023 reached 30.7%, up 0.2 percentage points compared to the same
period in 2022. Of which, the domestic market recorded a year-on-year increase in gross profit margin, driven by lower
commodity prices, digitalization in procurement and R&D, a digitalized production and sales coordination system, and
an increased proportion of in-house manufacturing. In overseas markets, while ongoing product mix optimization and
increased production capacity utilization had positive impacts on gross margins, they were offset by intensified
competition in major regional markets. Overseas gross profit margin in the first three quarters declined year-on-year as
a result, but as high-cost inventory was being cleared, the gross profit margin for the third quarter has shown a year-on-
year increase.
III. Operating Expenses Ratio
compared to the same period in 2022. In the domestic market, the implementation of digitalization improved efficiency
in marketing resource allocation, logistics distribution, and warehousing operations, resulting in a year-on-year
improvement in the selling expense ratio. On the other hand, overseas markets experienced intensified competition,
which demanded increased spending on expanding retail channels, promoting new product launches, and enhancing
store appearance, resulting in a higher selling expense ratio year-on-year.
percentage points compared to the same period in 2022. In particular, the domestic market reduced the expense ratio
year-on-year through adopting digital tools to streamline business processes and enhance organizational efficiency,
whereas the overseas market increased investment in information technology, leading to a rise in its expense ratio year-
on-year.
to the same period in 2022. The research and development expense was primarily dedicated for strengthening the
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
Company’s core capabilities in smart home technologies, driving product innovation across various industries, and
advancing the digital platforms of the SAN YI NIAO scenario brand.
a deterioration of 0.3 percentage points compared to the same period in 2022. The deterioration was mainly due to the
additional interest expenses incurred overseas as a result of interest rate hikes, which offset the Company's higher interest
income achieved through improved capital management efficiency.
IV. Working Capital
The trade and bill receivable turnover days for the first three quarters of 2023 was 40 days, a decrease of 0.1 days
compared to the end of 2022, hence remained largely unchanged.
The inventory turnover for the first three quarters of 2023 was 84.2 days, a decrease of 4.6 days compared to the end of
The trade and bill payable turnover days for the first three quarters of 2023 was 142 days, a decrease of 3 days compared
to the end of 2022.
V. Cash Flow Analysis
increase of RMB 1.952 billion compared to the corresponding period in 2022. The growth was mainly driven by
increased operating profit and enhanced operational efficiency in the current period.
increase of RMB 1.558 billion compared to the corresponding period in 2022. This was mainly due to an increase in
cash payments for the purchase of long-term fixed deposits, acquisition of fixed assets, intangible assets, and other long-
term assets during the current period.
increase of RMB 3.582 billion compared to the corresponding period in 2022. This was mainly due to the decrease in
net new borrowings and the increase in cash payments for dividend distribution, profits, or interest payments during the
current period.
VI. Capital Expenditure
The Company assesses its capital expenditure and investments in each segment in China and overseas from time to time.
The capital expenditure in the first three quarters of 2023 amounted to RMB 6.077 billion, of which RMB 2.773 billion
and RMB 3.304 billion were used in China and overseas respectively, primarily for plants and equipment construction
and digital infrastructure.
VII. Asset-liability Ratio
At the end of the third quarter in 2023, the Company’s asset-liability ratio was 58.7%, down 1.1 percentage points
compared to the end of 2022, which was mainly due to the growth in net profits which increased total assets.
(II) Non-recurring profit or loss items and amounts
Unit and Currency: RMB
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
Amounts from the beginning of
Amounts in the Reporting
Items the year to the end of the
Period
Reporting Period
Profit or loss from disposal of non-current assets -37,360,907.54 -59,247,886.50
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
Profit or loss on the changes in fair value generated from financial
assets held for trading, derivative financial assets, financial
liabilities held for trading and derivative financial liabilities, and the
investment income received from disposal of financial assets held
for trading, derivative financial assets, financial liabilities held for
trading, derivative financial liabilities and other debt investment,
other than the effective hedging business relating to the ordinary
operating business of the Company
Other non-operating income and expenses other than the above
items
Less: amount of effect on income tax 8,638,212.18 86,301,377.20
Amount of effect on minority interests (after tax) 3,364,560.76 15,712,328.60
Total 68,576,447.76 428,474,683.02
Description on categorizing the non-recurring profit or loss items listed in the Interpretative Announcement No. 1
of the Information Disclosure of the Companies Public Offering Securities — Non-recurring Profit or Loss (公開發行
證券的公司信息披露解釋性公告第 1 號—非經常性損益) as recurring profit or loss item
□Applicable √Not Applicable
(III) Changes in major accounting data and financial indicators and reasons
□Applicable √Not Applicable
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
VIII. PARTICULARS OF SHAREHOLDERS
(I) Total number of ordinary shareholders and the number of preferential shareholders with restored voting rights and
the shareholdings of the top 10 shareholders
Unit: share
Total number of ordinary Total number of preferential shareholders with
shareholders as of the end of the 137,875 restored voting rights as of the end of the Reporting N/A
Reporting Period Period (if any)
Shareholdings of the top 10 shareholders
Number of Pledged, marked or
Percentage of shares held frozen
Nature of Number of
Name of shareholders shareholdings subject to
shareholders shares held
(%) trading
moratorium Status Number
HKSCC NOMINEES LIMITED
Unknown 2,230,824,134 23.64 Unknown
(Note)
Domestic non-
Haier COSMO Co., Ltd. state-owned 1,258,684,824 13.34 Nil
legal entity
Domestic non- Nil
Haier Group Corporation state-owned 1,072,610,764 11.36
legal entity
Hong Kong Securities Clearing Nil
Unknown 643,247,192 6.82
Company Limited
HCH (HK) INVESTMENT Foreign legal Nil
MANAGEMENT CO., LIMITED entity
China Securities Finance Nil
Unknown 182,592,654 1.93
Corporation Limited
Domestic non- Nil
Qingdao Haier Venture &
state-owned 172,252,560 1.83
Investment Information Co., Ltd.
legal entity
Qingdao Haichuangzhi Domestic non- Nil
Management Consulting Enterprise state-owned 133,791,058 1.42
(Limited Partnership) legal entity
ALIBABA INVESTMENT
Unknown 83,823,993 0.89 Unknown
LIMITED
National Social Security Fund
Unknown 61,298,139 0.65 Nil
Portfolio 113
Shareholdings of the top 10 shareholders not subject to trading moratorium
Number of listed shares not Class and number of shares
Name of shareholders subject to trading moratorium Number
Class
held
HKSCC NOMINEES LIMITED 2,230,824,134 Overseas listed foreign shares 2,230,824,134
Haier COSMO Co., Ltd. 1,258,684,824 RMB ordinary shares 1,258,684,824
Haier Group Corporation 1,072,610,764 RMB ordinary shares 1,072,610,764
Hong Kong Securities Clearing
Company Limited
HCH (HK) INVESTMENT
MANAGEMENT CO., LIMITED
China Securities Finance Corporation
Limited
Qingdao Haier Venture & Investment
Information Co., Ltd.
Qingdao Haichuangzhi Management
Consulting Enterprise (Limited 133,791,058 RMB ordinary shares 133,791,058
Partnership)
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
ALIBABA INVESTMENT
LIMITED
National Social Security Fund
Portfolio 113
Explanation of associations or actions in (1) Haier COSMO Co., Ltd. is a holding subsidiary of Haier Group Corporation. Haier
concert among the above shareholders Group Corporation holds 51.20% of its equity. Each of Qingdao Haier Venture &
Investment Information Co., Ltd., HCH (HK) INVESTMENT MANAGEMENT CO.,
LIMITED and Qingdao Haichuangzhi Management Consulting Enterprise (Limited
Partnership) is a party acting in concert with Haier Group Corporation;
(2) The Company is not aware of the existence of any associations of other shareholders.
Explanation of the top 10 shareholders and
the top 10 shareholders not subject to
trading moratorium engaging in the None
margin trading and short selling and
refinancing business (if any)
Note: (1) HKSCC NOMINEES LIMITED is the collective nominee account for the shareholders of H shares of the
Company, which is the original data provided by China Hong Kong securities registration agency to the Company after
consolidation of figures according to local market practices and technical settings, not representing the ultimate
shareholder; (2)As of the end of the reporting period, the Company’s repurchase account held a total of 102,298,195
shares.
IX. Miscellaneous
Other significant information regarding the Company’s operations during the Reporting Period should be brought
to the attention of investors
√ Applicable □Not Applicable
(1) External guarantees: As at the end of the Reporting Period, the external guarantees provided by the Company
and its subsidiaries were guarantees between the Company and its subsidiaries, the total balance of which
amounted to RMB13.427 billion, accounting for 13.4% of the Company’s latest net assets and 5.5% of the latest
total assets.
(2) Foreign exchange derivative: As at the end of the Reporting Period, the aggregate balance of the Company’s
foreign exchange derivative transaction amounted to approximately US$1.363 billion.
(3) Entrusted wealth management: As at the end of the Reporting Period, the balance of the Company’s entrusted
wealth management amounted to RMB1.429 billion, including two parts: ①Temporary-idle funds wealth
management by certain subsidiaries of the Company: Under the premise of ensuring sufficient capital for the
principal operating activities and daily operations, some subsidiaries of the Company purchased some short-
term principal-guaranteed wealth management products and structured deposits from major commercial banks
to improve the yield of temporarily-idle funds and the return for shareholders within the authority of the general
manager’s office meeting and under the condition of ensuring fund safety. As at the end of the Reporting Period,
the balance of the entrusted wealth management amounted to RMB1.414 billion; ②Idle funds in the asset
management account of the Employee Stock Ownership Plans: the asset management institution purchased cash
products such as money funds according to the liquidity of the products with some idle funds in the asset
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
management accounts of the Employee Stock Ownership Plans of the Company. The balance of cash assets
amounted to RMB15 million.
(4) Employee Stock Ownership Plans and Share Option Incentive Scheme:
A. Progress of Employee Stock Ownership Plans:
① Completion of shares pool building of the A-share and H-share Employee Stock Ownership Plans
(2023): The Company introduced the H-share Core Employee Stock Ownership Plan of Haier Smart Home Co.,
Ltd. for year 2023 (Draft) (“2023 H-share ESOP”), A-share Core Employee Stock Ownership Plan of Haier
Smart Home Co., Ltd. for year 2023 (Draft) (“2023 A-share ESOP”) upon the approval by the 2022 Annual
General Meeting convened on 26 June 2023. During the Reporting Period, the Company completed opening of
accounts, and shares pool building and other related work of the A-share and H-share ESOPs for year 2023. For
details, please refer to the Announcement of Haier Smart Home Co., Ltd. on the Completion of the Non-trading
Transfer of Shares for the 2023 A-share Core Employee Stock Ownership Plan and Announcement of Haier
Smart Home Co., Ltd. on the Completion of Share Purchase under the 2023 H-share Core Employee Stock
Ownership Plan disclosed on 19 July 2023 and 26 July 2023 respectively.
② Vesting of the 2021/2022 A-share/H-share ESOPs: According to relevant arrangement of the 2021 Plan
under the A-share Core Employee Stock Ownership Plan of Haier Smart Home Co., Ltd. (2021-2025) (Draft)
(“2021 A-share ESOP”), the 2021 Plan under the H-share Core Employee Stock Ownership Plan of Haier Smart
Home Co., Ltd. (2021-2025) (Draft) (“2021 H-share ESOP”), 2022 A-share Core Employee Stock Ownership
Plan of Haier Smart Home Co., Ltd. (Draft) And Its Summary(“2022 A-share ESOP”) and 2022 H-share Core
Employee Stock Ownership Plan of Haier Smart Home Co., Ltd. (Draft) And Its Summary ( ‘‘2022 H-share
ESOP’’), during the Reporting Period, the Company has completed relevant vesting of interests in the
abovementioned Employee Stock Ownership Plans:
respect of corresponding shares) in accordance with the 2022 annual results and the results of their individual
appraisals. The Company has processed the transfer of the relevant shares at the China Securities Depository
and Clearing Corporation Limited Shanghai Branch on 28 July 2023 in accordance with the abovementioned
resolution; and 27 participants under the 2021 H-share ESOP vested 834,283 shares in accordance with the
Co., Ltd., the asset management authority, will dispose of H shares held by the Industrial Securities Asset
Management Xinzhong Haier Smart Home No. 6 Employee Stock Ownership Single Asset Management Plan
in due course based on the aforesaid resolution, and allocate cash to the participants after taking into account
the dividends received in respect of H-share Stock Ownership Plan.
respect of corresponding shares) in accordance with the 2022 annual results and the results of their individual
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
appraisals. The Company has processed the transfer of the relevant shares at the China Securities Depository
and Clearing Corporation Limited Shanghai Branch on 28 July 2023 in accordance with the resolution; and 31
participants under the 2022 H-share ESOP vested 635,116 shares in accordance with the 2022 annual results
and the results of their individual appraisals. The Industrial Securities Asset Management Co., Ltd., the asset
management authority, will dispose of H shares held by the Industrial Securities Asset Management Xinzhong
Haier Smart Home No. 8 Employee Stock Ownership Single Asset Management Plan in due course based on
the aforesaid resolution, and allocate cash to the participants after taking into account the dividends received in
respect of 2022 H-share ESOP.
Please refer to the announcement on Vesting of Interests in Core Employee Stock Ownership Plans of Haier
Smart Home Co., Ltd. disclosed by the Company on 1 August 2023 for details.
B. Progress of Share Option Incentive Scheme: During the Reporting Period, since there was no suitable
exercise window period during the exercise period, the Company cancelled the 9,047,052 share options granted
but not yet exercised for the First Exercise Period of the 2021 A Share Option Incentive Scheme. For details,
please refer to the announcement on Cancellation of Certain Share Options Granted under The First Grant of the 2021
A Share Option Incentive Scheme of Haier Smart Home Co., Ltd. disclosed by the Company on 31 August 2023.
(5) A-share repurchases: On 27 April 2023, the Company convened the 5th meeting of the 11th session of the
Board, which considered and approved the Resolution in Relation to the Repurchase Plan of a Portion of Public
A Shares of Haier Smart Home Co., Ltd. It allowed the Company to use its own funds to repurchase a portion
of A shares of the Company by way of centralised bidding. The repurchase price is no more than RMB32 per
share and the proposed total repurchase amount is no more than RMB3.0 billion and no less than RMB1.5
billion. The period of this repurchase is within 12 months from the date the Board considered and approved the
resolution of repurchase of shares. As at the end of the Reporting Period, the Company had repurchased a total
of 40,409,552 shares cumulatively. The highest price purchased was RMB 24.50 per share and the lowest price
was RMB 21.20 per share, and the amount paid was RMB 921,834,098.71. For details, please refer to the
relevant announcements on monthly progress.
X. Quarterly Financial Statements
(I) Type of Audit Opinion
□Applicable √Not Applicable
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
(II) Financial Statements
CONSOLIDATED BALANCE SHEET
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Audit: Unaudited
Items 30 September 2023 31 December 2022
Current assets:
Cash at bank and on hand 52,149,043,095.58 54,161,702,227.39
Provision of settlement fund
Funds lent
Financial assets held for trading 655,399,475.14 519,912,880.91
Derivative financial assets 118,921,442.40 183,185,160.51
Bills receivable 9,872,653,157.83 9,624,191,838.15
Accounts receivable 20,988,684,344.66 15,886,628,623.99
Financing receivables
Prepayments 1,356,608,238.79 1,109,114,343.41
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserves receivable
Other receivables 2,692,399,503.20 2,401,113,902.55
Including: Interest receivable 703,024,332.29 513,320,376.79
Dividend receivable
Financial assets purchased under resale agreements
Inventories 39,848,256,203.85 41,587,786,307.53
Contract assets 383,331,581.77 309,930,359.25
Assets held for sale
Non-current assets due in one year
Other current assets 3,983,623,386.99 4,692,946,083.94
Total current assets 132,048,920,430.21 130,476,511,727.63
Non-current assets:
Loans and advances granted
Debt investments 5,392,907,777.79 1,034,222,222.22
Other debt investments
Long-term receivables 296,049,530.76 305,070,001.45
Long-term equity investments 25,573,733,032.02 24,527,800,290.84
Investments in other equity instruments 5,895,406,084.84 5,851,882,930.20
Other non-current financial assets
Investment properties 25,072,877.49 25,678,492.57
Fixed assets 27,187,829,964.57 27,158,348,424.28
Construction in progress 5,328,977,842.97 4,094,684,500.49
Biological assets for production
Oil and gas assets
Right-of-use assets 4,186,902,136.31 3,795,225,353.89
Intangible assets 10,425,557,357.92 10,505,881,377.21
Development cost 323,254,440.21 154,480,515.67
Goodwill 24,411,547,397.16 23,643,595,643.87
Long-term prepaid expenses 816,573,998.81 759,883,174.20
Deferred income tax assets 1,348,605,293.51 1,724,040,928.42
Other non-current assets 2,630,181,404.07 1,880,736,891.63
Total non-current assets 113,842,599,138.43 105,461,530,746.94
Total assets 245,891,519,568.64 235,938,042,474.57
Current liabilities:
Short-term borrowings 10,763,160,153.28 9,672,223,522.36
Borrowings from central bank
Due to banks and other financial institutions
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
Financial liabilities held for trading
Derivative financial liabilities 241,973,628.07 104,594,040.66
Bills payable 21,858,644,885.79 25,098,557,730.06
Accounts payable 48,467,998,901.31 41,878,607,182.94
Receipts in advance
Contract liabilities 5,631,230,489.75 9,352,719,895.49
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
Payables for staff's remuneration 3,951,282,865.27 4,050,464,754.37
Taxes payable 3,399,449,039.45 2,876,221,892.91
Other payables 18,555,303,917.91 17,517,838,565.99
Including: Interest payable
Dividend payable 2,570,182.19 1,246,573.35
Fees and commissions payable
Reinsurance Accounts payables
Liabilities held for sale
Non-current liabilities due within one year 5,186,064,220.46 6,294,750,667.08
Other current liabilities 1,334,441,892.79 1,850,426,115.79
Total current liabilities 119,389,549,994.08 118,696,404,367.65
Non-current liabilities:
Deposits for insurance contracts
Long-term borrowings 15,749,290,256.53 13,590,866,873.43
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities 3,149,065,414.34 2,824,477,670.61
Long-term payables 42,943,227.98 44,240,087.94
Long-term payables for staff’s remuneration 1,077,284,824.01 1,010,547,202.34
Estimated liabilities 1,726,118,732.86 1,611,029,220.17
Deferred income 996,528,379.72 948,935,134.05
Deferred income tax liabilities 2,035,893,506.32 2,358,860,559.19
Other non-current liabilities 75,575,357.70 107,332,101.07
Total non-current liabilities 24,852,699,699.46 22,496,288,848.80
Total liabilities 144,242,249,693.54 141,192,693,216.45
Owners' equity (or shareholders' equity):
Paid-in capital (or share capital) 9,438,114,893.00 9,446,598,493.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 23,562,143,231.66 23,877,037,324.76
Less: treasury stock 4,553,720,965.58 3,857,807,196.38
Other comprehensive income 1,951,545,285.98 1,990,683,498.45
Special reserve
Surplus reserve 4,014,190,623.24 4,014,190,623.24
General risk provisions
Undistributed profits 65,903,849,243.46 57,983,751,470.60
Total equity attributable to owners (or
shareholders) of the Parent Company
Minority shareholders' interests 1,333,147,563.34 1,290,895,044.45
Total owners' equity (or shareholders' equity) 101,649,269,875.10 94,745,349,258.12
Total liabilities and owners' equity (or
shareholders' equity)
Person in charge of the Company: Li Huagang
Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
CONSOLIDATED PROFIT STATEMENT
January-September 2023
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Audit: Unaudited
Items
September) (January-September)
Ⅰ. Total operating revenue 198,657,302,554.72 184,805,729,760.46
Including: Operating revenue 198,657,302,554.72 184,805,729,760.46
Interest income
Insurance premiums earned
Fee and commission income
Ⅱ. Total cost of operations 183,707,103,344.05 171,114,261,138.74
Including: Operating cost 137,641,968,047.96 128,460,970,570.71
Interest expenses
Fee and commission expenses
Insurance withdrawal payment
Net payment from indemnity
Net provisions withdrew for
insurance liability
Insurance policy dividend paid
Reinsurance cost
Taxes and surcharges 790,994,726.49 586,687,120.75
Selling expenses 29,162,157,971.23 27,496,582,667.90
Administrative expenses 8,173,689,854.92 7,737,134,814.56
R&D expenses 8,045,226,490.59 7,457,643,453.87
Financial expenses -106,933,747.14 -624,757,489.05
Including: Interest expenses 1,299,143,491.19 611,534,472.31
Interest income 1,016,337,422.83 585,980,598.72
Add: other income 957,495,102.11 774,183,800.84
Investment income (losses are
represented by “-”)
Including: Investment income of
associates and joint 1,454,801,107.61 1,243,888,650.43
ventures
Income generated from the
derecognition of financial
assets measured at
amortized cost
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 “-”)
Loss on credit impairment (losses
-234,856,312.60 -328,043,205.17
are represented by “-”)
Loss on assets impairment (losses
-992,791,090.99 -916,823,397.27
are represented by “-”)
Gain from disposal of assets
-23,918,221.44 36,559,385.16
(losses are represented by “-”)
Ⅲ. Operating profit (losses are represented
by “-”)
Add: non-operating income 94,519,677.46 104,517,017.41
Less: non-operating expenses 70,149,764.67 97,149,423.40
Ⅳ. Total profit (total losses are represented
by “-”)
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
Less: income tax expense 2,969,531,548.87 2,788,552,313.47
Ⅴ. Net profit (net losses are represented by
“-”)
(I) Classification by continuous operation
operation (net losses are 13,264,792,955.11 11,713,972,282.99
represented by “-”)
operation (net losses are
represented by “-”)
(II) Classification by ownership of the equity
shareholders of the Parent
Company (net losses are
represented by “-”)
minority shareholders (net losses 115,573,582.49 47,958,166.03
are represented by “-”)
VI. Other comprehensive income, net of
-56,511,839.48 4,664,174,077.37
tax
(I) Other comprehensive income
attributable to shareholders of the -39,138,212.47 4,665,280,503.20
Parent Company, net of tax
cannot be reclassified into the profit 32,540,115.16 -115,981,350.82
or loss
(1) Changes arising from re-
measurement of defined benefit 29,881,992.24 9,178,508.68
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 2,658,122.92 -125,159,859.50
instruments
(4) Changes in fair value of credit
risks of the enterprise
-71,678,327.63 4,781,261,854.02
reclassified into the profit or loss
(1) Other comprehensive income that
can be transferred into profit or 37,530,301.28 254,600,418.32
loss under equity method
(2) Changes in fair value of other debt
investments
(3) Reclassified financial assets that
are credited to other
comprehensive income
(4) Credit impairment provision for
other debt investments
(5) Reserve for cash flow hedging -86,059,409.93 17,514,162.27
(6) Exchange differences on
translation of financial
-23,149,218.98 4,509,147,273.43
statements denominated in
foreign currencies
(7) Others
(II) Other comprehensive income
attributable to minority -17,373,627.01 -1,106,425.83
shareholders, net of tax
Ⅶ. Total comprehensive income 13,208,281,115.63 16,378,146,360.36
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
(I) Total comprehensive income
attributable to the owners of Parent 13,110,081,160.15 16,331,294,620.16
Company
(II) Total comprehensive income
attributable to the minority 98,199,955.48 46,851,740.20
shareholders
Ⅷ. Earnings per share:
(I) Basic earnings per share (RMB/share) 1.41 1.25
(II) Diluted earnings per share
(RMB/share)
For the business combinations under common control in the Period, the net profit of the parties consolidated before
consolidation was: RMB0 and the net profit of the parties consolidated in the Previous Period was: RMB2,513,646.83.
Person in charge of the Company: Li Huagang
Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
CONSOLIDATED CASH FLOW STATEMENT
January-September 2023
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Audit: Unaudited
Items
(January-September) (January-September)
I. Cash flow from operating activities:
Cash received from the sale of goods and rendering
services
Net increase in customer and inter-bank 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 placement from banks and other
financial institutions
Net increase in cash received from repurchase
operation
Net cash received from customer deposits for
trading in securities
Refunds of taxes 1,592,712,720.25 1,659,533,532.74
Cash received from other related operating
activities
Sub-total of cash inflows from operating
activities
Cash paid on purchase of goods and services 139,220,961,509.89 137,907,042,315.68
Net increase in loans and advances of customers
Net increase in deposits in the PBOC and inter-
bank
Cash paid for compensation payments under
original insurance contract
Net increase in cash lent
Cash paid for interest, bank charges and
commissions
Cash paid for insurance policy dividend
Cash paid to and on behalf of employees 22,058,533,655.36 20,344,467,172.76
Cash paid for all types of taxes 11,353,547,783.40 7,943,334,456.21
Cash paid to other operation related activities 20,815,496,820.56 19,223,026,618.70
Sub-total of cash outflows from operating
activities
Net cash flow from operating activities 13,203,115,800.79 11,251,205,835.72
II. Cash flow from investing activities:
Cash received from recovery of investments 7,466,623,875.73 8,170,465,135.63
Cash received from return on investments 544,680,041.95 483,988,185.56
Net cash received from the disposal of fixed assets,
intangible assets and other long-term assets
Net cash received from disposal of subsidiaries and 2,000,000.00
other operating entities
Other cash received from investment activities 15,367,464.03
Sub-total of cash inflows from investing
activities
Cash paid on purchase of fixed assets, intangible
assets and other long-term assets
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
Cash paid for investments 10,902,579,532.66 10,460,443,361.49
Net increase in secured loans
Net cash paid on acquisition of subsidiaries and
other operating entities
Other cash paid on investment activities 6,922,378.31
Sub-total of cash outflows from investing
activities
Net cash flow from investing activities -8,819,560,214.82 -7,261,836,303.13
III. Cash flow from financing activities:
Cash received from capital contributions 60,000.00 988,339,004.94
Including: Cash received from capital contributions
by minority shareholders of subsidiaries
Cash received from borrowings 15,259,427,874.40 10,855,224,965.32
Other cash received from financing activities 1,027,793.89
Sub-total of cash inflows from financing activities 15,259,487,874.40 11,844,591,764.15
Cash paid on repayment of loans 13,273,710,393.09 7,596,630,273.11
Cash paid on distribution of dividends, profits or
repayment of interest expenses
Including: Dividend and profit paid to minority
shareholders by subsidiaries
Other cash paid to financing activities 2,123,612,826.13 2,521,143,250.83
Sub-total of cash outflows from financing
activities
Net cash flow from financing activities -6,777,588,484.66 -3,195,906,441.84
IV. Effect of fluctuations in exchange rates on cash
and cash equivalents
V. Net increase in cash and cash equivalents -1,807,085,368.67 1,381,200,197.65
Add: balance of cash and cash equivalents at the
beginning of the period
VI. Balance of cash and cash equivalents at the end
of the period
Person in charge of the Company: Li Huagang
Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
BALANCE SHEET OF THE PARENT COMPANY
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Audit: Unaudited
Items 30 September 2023 31 December 2022
Current Assets:
Monetary funds 10,580,713,772.20 5,747,356,591.19
Financial assets held for trading
Derivative financial assets
Bills receivable
Accounts receivable 1,464,066,232.59 913,643,071.06
Financing receivables
Prepayments 3,179,066.46 3,116,793.21
Other receivables 17,900,235,359.53 14,387,031,657.57
Including: Interests receivable 85,714,881.19 29,783,516.95
Dividends receivable 1,044,013,185.59 1,015,840,000.00
Inventories 2,319,281.56 9,245,507.97
Contract assets
Assets held for sale
Non-current assets due within one year
Other current assets 1,258,146,843.33 1,642,423,149.85
Total current assets 31,208,660,555.67 22,702,816,770.85
Non-current assets:
Debt investments 1,366,113,888.90 1,034,222,222.22
Other debt investments
Long-term receivables
Long-term equity investments 54,772,801,837.83 52,744,139,527.87
Investments in other equity instruments 1,618,513,056.48 1,618,513,056.48
Other non-current financial assets
Investment properties
Fixed assets 148,315,852.82 167,043,774.16
Construction in progress 11,766,433.97 2,667,680.62
Biological assets for production
Oil and gas assets
Right-of-use assets 357,996.03
Intangible assets 43,040,533.79 48,239,513.12
Development cost
Goodwill
Long-term prepaid expenses 3,098,974.93 3,910,065.39
Deferred income tax assets
Other non-current assets 1,498,818,858.08 1,302,773,743.02
Total non-current assets 59,462,469,436.80 56,921,867,578.91
Total assets 90,671,129,992.47 79,624,684,349.76
Current liabilities:
Short-term borrowings
Financial liabilities held for trading
Derivative financial liabilities
Bills payable
Accounts payable 992,785,551.35 521,733,555.60
Receipts in advance
Contract liabilities 12,597,148.63 13,084,442.85
Payables for staff’s remuneration 4,351,311.00 9,696,654.18
Taxes payable 1,937,831.51 7,479,878.13
Other payables 47,588,193,578.27 32,659,845,830.05
Including: Interests payable
Dividends payable
Liabilities held for sale
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
Non-current liabilities due within one year
Other current liabilities 9,982,815.27 5,876,886.89
Total current liabilities 48,609,848,236.03 33,217,717,247.70
Non-current liabilities:
Long-term borrowings 3,753,000,000.00 2,195,000,000.00
Bonds payable
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payable
Long-term payables for staff’s
remuneration
Estimated liabilities
Deferred income 13,798,300.00 12,355,000.00
Deferred income tax liabilities 420,805,600.57 420,805,600.57
Other non-current liabilities
Total non-current liabilities 4,187,603,900.57 2,628,160,600.57
Total liabilities 52,797,452,136.60 35,845,877,848.27
Owners’ equity (or shareholders’ equity):
Paid-in capital (or share capital) 9,438,114,893.00 9,446,598,493.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve 27,033,341,878.39 27,300,899,019.76
Less: treasury stock 2,683,947,836.84 2,308,138,558.42
Other comprehensive income 624,427,389.73 602,091,349.74
Special reserve
Surplus reserve 3,409,044,397.79 3,409,044,397.79
Undistributed profits 52,697,133.80 5,328,311,799.62
Total owners’ equity (or shareholders’
equity)
Total liabilities and owners’ equity
(or shareholders’ equity)
Person in charge of the Company: Li Huagang
Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
PROFIT STATEMENT OF THE PARENT COMPANY
January-September 2023
Prepared by: Haier Smart Home Co Ltd
Unit and Currency: RMB Type of Audit: Unaudited
Items
(January-September) (January-September)
I. Operating revenue 546,667,518.11 274,409,829.17
Less: operation cost 477,055,075.68 237,958,102.39
Taxes and surcharges 4,342,188.60 1,502,873.54
Selling expenses 7,738,804.47 8,343,662.82
Administration expenses 361,100,526.73 623,648,918.13
R&D expenses 11,595,713.67 9,536,280.96
Financial expenses -131,322,585.09 -93,676,340.74
Including: Interest expenses 56,849,220.83 19,056,720.15
Interest income 201,787,158.84 107,726,590.75
Add: other income 1,361,535.00 29,030,565.58
Investment income (losses are
represented by “-”)
Including: Investment income of
associates and joint ventures
Derecognition income on
financial assets measured at
amortized cost
Gains on net exposure hedges
(losses are represented by “-”)
Income from change in fair value
(losses are represented by “-”)
Loss on credit impairment (losses
are represented by “-”)
Loss on assets impairment (losses
are represented by “-”)
Gain from disposal of assets
(losses are represented by “-”)
II. Operating profit (losses are represented
by “-”)
Add: non-operating income 99,051.41 208,515.11
Less: non-operating expenses 78,702.83 28,698.02
III. Total profit (total losses are represented
by “-”)
Less: income tax expenses 1,205.40
IV. Net profit (net losses are represented by
“-”)
(I) Net profit from continuous operation
(net losses are represented by “-”)
(II) Net profit from discontinued
operation (net losses are represented
by “-”)
V. Other comprehensive income net of tax 22,336,039.99 7,369,147.56
(I) Other comprehensive income that
cannot be reclassified into the profit
or loss
measurement of defined benefit
plans
cannot be transferred into profit or
loss under equity method
in other equity instruments
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
of the enterprise
(II) Other comprehensive income to be
reclassified into the profit or loss
can be transferred into profit or loss 22,336,039.99 7,369,147.56
under equity method
investments
credited to other comprehensive
income
other debt investments
of financial statements denominated
in foreign currencies
VI. Total comprehensive income 44,338,167.18 160,280,158.52
VII. Earnings per share:
(I) Basic earnings per share
(RMB/share)
(II) Diluted earnings per share
(RMB/share)
Person in charge of the Company: Li Huagang
Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
CASH FLOW STATEMENT OF THE PARENT COMPANY
January-September 2023
Prepared by: Haier Smart Home Co., Ltd.
Unit and Currency: RMB Type of Audit: Unaudited
Items
(January-September) (January-September)
I. Cash flow from operating activities:
Cash received from the sale of goods and
rendering of services
Refunds of taxes 19,589,497.52
Other cash received from operating activities 121,672,343.93 235,437,891.28
Sub-total of cash inflows from operating
activities
Cash paid on purchase of goods and services 35,574,640.73 189,272,450.16
Cash paid to and on behalf of employees 38,468,265.04 33,298,564.72
Cash paid for all types of taxes 21,126,840.06 -16,023,080.78
Other cash paid to operation activities 26,551,687.50 244,978,820.70
Sub-total of cash outflows from operating
activities
Net cash flow from operating activities 70,858,288.97 167,845,444.90
II. Cash flow from investing activities:
Cash received from recovery of investments 6,061,000,000.00 2,529,920,000.00
Cash received from return on investments 91,950,768.58 101,858,820.49
Net cash received from the disposal of fixed
assets, intangible assets and other long- 35,206,354.85
term assets
Net cash received from disposal of subsidiaries
and other operating entities
Other cash received from investment activities 38,509,682.22 8,456,180.95
Sub-total of cash inflows from investing
activities
Cash paid on purchase of fixed assets
intangible assets and other long-term 5,176,513.10 23,441,195.66
assets
Cash paid for investments 7,896,572,258.00 4,064,405,507.20
Net cash paid on acquisition of subsidiaries and
other operating entities
Other cash paid on investment activities 1,178,069,045.00 1,964,600,000.00
Sub-total of cash outflows from investing
activities
Net cash flow from investing activities -2,888,357,365.30 -3,377,005,346.57
III. Cash flow from financing activities:
Cash received from capital contributions 940,041,004.94
Cash received from borrowings 1,770,000,000.00 2,100,000,000.00
Other cash received from financing activities 12,561,769,867.58 7,841,605,940.88
Sub-total of cash inflows from financing
activities
Cash paid on repayment of borrowings 212,000,000.00 5,000,000.00
Cash paid on distribution of dividends, profits
or interest expenses
Other cash paid on financing activities 1,123,171,217.08 1,604,643,065.80
Sub-total of cash outflows from financing
activities
Net cash flow from financing activities 7,643,999,125.52 4,941,594,785.61
IV. Effect of fluctuations in exchange rates on
cash and cash equivalents
V. Net increase in cash and cash equivalents 4,833,357,181.01 1,747,693,519.63
Add: balance of cash and cash equivalents at
the beginning of the period
Haier Smart Home Co., Ltd. 2023 Third Quarter Report
VI. Balance of cash and cash equivalents at the
end of the period
Person in charge of the Company: Li Huagang
Person in charge of accounting function: Gong Wei
Person in charge of accounting department: Ying Ke
The adjustments of the relevant items of the financial statements at the beginning of the year due to the first
implementation of new accounting standards or interpretations to accounting standards since 2023
□Applicable √Not Applicable
The Board of Haier Smart Home Co., Ltd.
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