美的集团：2021年第三季度报告（英文版）.PDF

Interim Report for the Third Quarter 2021 of Midea Group Co., Ltd. 1 Stock code: 000333 Stock abbreviation: Midea Group Announcement No.: 2021-108 Midea Group Co., Ltd. Interim Report for the Third Quarter 2021 Midea Group Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the Companys Board of Directors have warranted that the information given in this Report is true, accurate and complete, as well as free of any false record, misleading statement or material omission. Important Reminders: 1. The Board of Directors, the Supervisory Committee as well as all the directors, supervisors and senior management staff of the Company have warranted that this Report contains no false record, misleading statement or material omission. And they shall be jointly and severally liable for the truthfulness, accuracy and completeness of the information given in this Report. 2. The legal representative, principal in charge of accounting and head of the accounting department of the Company have represented and warranted that the financial information in this Report is true, accurate and complete. 3. Is this Report audited by a CPAs firm? Yes No This report has been prepared in both Chinese and English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese version shall prevail. 1. Key financial information 1.1 Major accounting data and financial indicators Does the Company adjust retrospectively or restate accounting data of previous years? Yes No July-September 2021 YoY Change (%) January- September 2021 YoY Change (%) Operating revenue (RMB000) 87,532,404 12.66% 261,341,969 20.57% Net profit attributable to shareholders of the Company (RMB000) 8,446,204 4.40% 23,455,250 6.53% Net profit attributable to shareholders of the Company before non-recurring gains and losses (RMB000) 7,928,026 10.75% 22,564,537 9.45% Interim Report for the Third Quarter 2021 of Midea Group Co., Ltd. 2 Net cash flows from operating activities (RMB000) 27,896,744 11.52% Basic earnings per share (RMB/share) 1.24 6.90% 3.41 7.23% Diluted earnings per share (RMB/share) 1.23 6.03% 3.39 6.94% Weighted average ROE (%) 7.30% -0.09% 19.51% -0.84% 30 September 2021 31 December 2020 Change (%) Total assets (RMB000) 376,333,770 360,382,603 4.43% Total equity attributable to shareholders of the Company (RMB000) 118,530,537 117,516,260 0.86% 1.2 Non-recurring gains and losses Applicable N/A Unit: RMB000 Item July-September 2021 January-September 2021 Note Gains and losses on disposal of non-current assets 77,247 60,162 Except for effectively hedging business related to normal business operations of the Company, gains and losses arising from the change in the fair value of financial assets held for trading, derivative financial assets, financial liabilities held for trading, derivative financial liabilities and other non-current financial assets, as well as investment gains and losses produced from the disposal of the aforesaid financial assets and liabilities -21,422 -123,141 Other 693,800 1,238,713 Less: Corporate income tax 219,783 284,055 Minority interests (after tax) 11,664 966 Total 518,178 890,713 - Other items that meet the definition of non-recurring gain/loss: Applicable N/A No such cases for the Reporting Period. Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in the as a recurring gain/loss item Applicable N/A No such cases for the Reporting Period. 1.3 Major changes of main items in financial statements and financial indicators, as well as the reasons for the changes Applicable N/A Interim Report for the Third Quarter 2021 of Midea Group Co., Ltd. 3 Unit: RMB000 Financial statement items (consolidated) 30 September 2021/January- September 2021 31 December 2020/January- September 2020 Change (%) Reasons for the changes Cash at bank and on hand 55,870,709 81,210,482 -31.20% Mainly due to the decreased term deposits Financial assets held for trading 11,219,571 28,239,601 -60.27% Mainly due to the decreased structured deposits Derivative financial assets 183,340 420,494 -56.40% Mainly due to the changes in the fair value of derivative financial instruments Advances to suppliers 3,621,966 2,763,710 31.05% Mainly due to the increased advances to material suppliers Other current assets 65,891,409 33,079,918 99.19% Mainly due to the increased monetary investment products Other debt investments 11,511,716 21,456,155 -46.35% Mainly due to the transfer to the current portion of non-current assets Other non-current financial assets 5,325,750 3,360,849 58.46% Mainly due to the increased equity investments Investment properties 887,837 405,559 118.92% Mainly due to the increased business combinations Construction in progress 2,148,934 1,477,302 45.46% Mainly due to the increased construction in progress Customer deposits and deposits from banks and other financial institutions 26,783 87,535 -69.40% Mainly due to the changes in the business operations of Midea Group Finance Derivative financial liabilities 82,478 161,225 -48.84% Mainly due to the changes in the fair value of derivative financial instruments Current portion of non-current liabilities 2,017,084 6,310,181 -68.03% Mainly due to the repayment of borrowings Deferred income 1,103,615 779,729 41.54% Mainly due to the increased government subsidies received Treasury stock 14,188,847 6,094,347 132.82% Mainly due to the increased share repurchase Minority interests 9,774,931 6,720,840 45.44% Mainly due to the acquisition of Beijing Wandong Medical Technology Co., Ltd. Interest income 1,600,306 992,158 61.30% Mainly due to the changes in the business operations of Midea Group Finance Research and development expenses 8,764,926 6,715,806 30.51% Mainly due to the increased research and development investments Financial expenses -3,349,461 -1,462,390 -129.04% Mainly due to the increased interest income Gains/(losses) on changes in fair value -924,798 1,123,644 -182.30% Mainly due to the changes in the fair value of financial assets Credit impairment losses -204,276 -615,091 66.79% Mainly due to the decreased losses on bad debts of accounts receivable Losses on disposal of assets 57,969 -36,917 257.03% Mainly due to the increased gains on disposal of non-current assets Non-operating income 406,215 223,576 81.69% Mainly due to the increased other income Net profit attributable to minority interests 237,578 175,702 35.22% Mainly due to the increased profits of non-wholly-owned subsidiaries Net cash flows from investing activities 6,680,656 -32,098,571 120.81% Mainly due to the increased cash received from disposal of investments Net cash flows from financing -27,666,525 8,101,376 -441.50% Mainly due to the decreased cash received from issuance of short-term Interim Report for the Third Quarter 2021 of Midea Group Co., Ltd. 4 activities financing bonds Net increase in cash and cash equivalents 6,662,307 870,074 665.72% Mainly due to the increased net cash flows from investing activities 2. Shareholder information 2.1 Total number of ordinary shareholders and preference shareholders with resumed voting rights, as well as shareholdings of the top ten shareholders at the period-end Unit: share Total number of ordinary shareholders at the period-end 455,639 Total number of preference shareholders with resumed voting rights at the period-end (if any) 0 Top ten shareholders Name of shareholder Nature of shareholder Shareholding percentage (%) Number of shares held Number of restricted shares held Pledged or frozen shares Status of shares Number of shares Midea Holding Co., Ltd. Domestic non-state-owned corporation 31.06 2,169,178,713 Pledged 100,000,000 Hong Kong Securities Clearing Company Limited Foreign corporation 18.61 1,299,563,430 - - China Securities Finance Co., Ltd. Domestic non-state-owned corporation 2.84 198,145,134 - - Fang Hongbo Domestic individual 1.68 116,990,492 87,742,869 - - Canada Pension Plan Investment Board own funds (stock exchange) Foreign corporation 1.49 103,913,897 - - Central Huijin Asset Management Ltd. State-owned corporation 1.29 90,169,354 - - Huang Jian Domestic individual 1.23 86,140,000 - - Li Jianwei Foreign individual 0.72 50,100,000 - - Huang Xiaoxiang Domestic individual 0.56 39,257,832 Pledged 14,779,556 Yuan Liqun Domestic individual 0.54 37,888,882 - - Top ten non-restricted ordinary shareholders Name of shareholder Number of non-restricted ordinary shares held at the period-end Type of shares Type Number Midea Holding Co., Ltd. 2,169,178,713 RMB-denominated ordinary share 2,169,178,713 Hong Kong Securities Clearing Company Limited 1,299,563,430 RMB-denominated ordinary share 1,299,563,430 China Securities Finance Co., Ltd. 198,145,134 RMB-denominated ordinary share 198,145,134 Canada Pension Plan Investment Board own funds (stock exchange) 103,913,897 RMB-denominated ordinary share 103,913,897 Central Huijin Asset Management Ltd. 90,169,354 RMB-denominated ordinary share 90,169,354 Interim Report for the Third Quarter 2021 of Midea Group Co., Ltd. 5 Huang Jian 86,140,000 RMB-denominated ordinary share 86,140,000 Li Jianwei 50,100,000 RMB-denominated ordinary share 50,100,000 Huang Xiaoxiang 39,257,832 RMB-denominated ordinary share 39,257,832 Yuan Liqun 37,888,882 RMB-denominated ordinary share 37,888,882 Merrill Lynch International 37,191,573 RMB-denominated ordinary share 37,191,573 Explanation of related relationship or/and acting-in-concert parties among the above-mentioned shareholders N/A Top ten non-restricted ordinary shareholders taking part in securities margin trading The Companys shareholder Huang Xiaoxiang holds 28,679,832 shares in the Company through his common securities account and 10,578,000 shares in the Company through his account of collateral securities for margin trading, representing a total holding of 39,257,832 shares in the Company. The Companys shareholder Yuan Liqun holds 705,000 shares in the Company through her common securities account and 37,183,882 shares in the Company through her account of collateral securities for margin trading, representing a total holding of 37,888,882 shares in the Company. Note: 116,828,832 ordinary shares (or 1.67% of the Companys total share capital) were held in the special account for repurchased shares of Midea Group Co., Ltd. at the end of the Reporting Period. 2.2 Total number of preference shareholders and shareholdings of the top ten preference shareholders at the period-end Applicable N/A 3. Other significant events Applicable N/A 4. Financial statements 4.1 Financial statements 4.1.1 Consolidated and Company balance sheets Consolidated and Company Balance Sheets Prepared by Midea Group Co., Ltd. As at 30 September 2021 Unit: RMB000 ASSETS 30 September 2021 31 December 2020 30 September 2021 31 December 2020 Consolidated Consolidated Company Company Current assets Cash at bank and on hand 55,870,709 81,210,482 42,060,082 49,240,180 Financial assets held for trading 11,219,571 28,239,601 6,405,484 16,614,658 Derivative financial assets 183,340 420,494 - - Notes receivable 6,044,674 5,304,510 - - Accounts receivable 25,984,593 22,978,363 - - Receivables financing 15,622,773 13,901,856 - - Interim Report for the Third Quarter 2021 of Midea Group Co., Ltd. 6 Advances to suppliers 3,621,966 2,763,710 76,720 45,306 Contract assets 4,098,681 3,236,848 - - Loans and advances 20,228,082 16,469,069 - - Other receivables 2,968,794 2,973,945 32,579,418 28,318,670 Inventories 33,198,146 31,076,529 - - Current portion of non-current assets 14,204,709 - 13,524,924 - Other current assets 65,891,409 33,079,918 57,116,390 20,533,745 Total current assets 259,137,447 241,655,325 151,763,018 114,752,559 Non-current assets Other debt investments 11,511,716 21,456,155 9,769,859 20,064,155 Long-term receivables 1,102,818 981,623 - - Loans and advances 942,420 1,113,501 - - Long-term equity investments 3,762,188 2,901,337 63,318,896 54,991,161 Investments in other equity instruments 43,866 46,651 - - Other non-current financial assets 5,325,750 3,360,849 695,688 80,937 Investment properties 887,837 405,559 450,200 476,839 Fixed assets 22,415,206 22,239,214 659,683 749,835 Construction in progress 2,148,934 1,477,302 679,537 204,304 Right-of-use assets 2,129,219 12,964 Intangible assets 17,651,834 15,422,393 672,592 684,997 Goodwill 28,857,740 29,557,218 - - Long-term prepaid expenses 1,288,533 1,300,962 77,418 97,078 Deferred tax assets 7,680,751 7,208,635 286,823 287,360 Other non-current assets 11,447,511 11,255,879 10,535,554 10,141,031 Total non-current assets 117,196,323 118,727,278 87,159,214 87,777,697 TOTAL ASSETS 376,333,770 360,382,603 238,922,232 202,530,256 Legal representative: Principal in charge of accounting: Head of accounting department: Fang Hongbo Zhong Zheng Chen Lihong Consolidated and Company Balance Sheets (Contd) Prepared by Midea Group Co., Ltd. As at 30 September 2021 Unit: RMB000 LIABILITIES AND SHAREHOLDERS EQUITY 30 September 2021 31 December 2020 30 September 2021 31 December 2020 Consolidated Consolidated Company Company Current liabilities Short-term borrowings 8,179,959 9,943,929 - 799,314 Borrowings from the Central Bank 19,841 - - - Customer deposits and deposits from banks and other financial institutions 26,783 87,535 - - Derivative financial liabilities 82,478 161,225 - - Notes payable 32,082,602 28,249,939 - - Accounts payable 61,601,702 53,930,261 - - Contract liabilities 20,326,814 18,400,922 - - Employee benefits payable 6,323,912 6,954,822 557,932 562,954 Taxes payable 4,333,343 5,758,058 874,220 1,326,219 Other payables 4,553,324 4,501,391 172,317,366 123,120,354 Current portion of non-current liabilities 2,017,084 6,310,181 8,127 4,000,000 Other current liabilities 49,188,675 49,852,239 2,172 3,048,794 Interim Report for the Third Quarter 2021 of Midea Group Co., Ltd. 7 Total current liabilities 188,736,517 184,150,502 173,759,817 132,857,635 Non-current liabilities Long-term borrowings 48,636,926 42,827,287 12,600,000 5,800,000 Lease liabilities 1,417,967 4,912 Long-term payables 1,115 13,260 - - Provisions 353,284 298,110 - - Deferred income 1,103,615 779,729 - - Long-term employee benefits payable 1,716,207 2,159,675 - - Deferred tax liabilities 5,373,260 5,223,954 70,527 67,792 Other non-current liabilities 689,411 692,986 - - Total non-current liabilities 59,291,785 51,995,001 12,675,439 5,867,792 Total liabilities 248,028,302 236,145,503 186,435,256 138,725,427 Shareholders equity Share capital 6,984,237 7,029,976 6,984,237 7,029,976 Capital surplus 19,386,312 22,488,105 26,220,162 29,123,547 Less: Treasury stock (14,188,847) (6,094,347) (14,188,847) (6,094,347) Other comprehensive income (1,691,296) (1,549,003) 2,917 (16,009) General risk reserve 587,984 587,984 - - Special reserve 14,842 12,730 - - Surplus reserve 7,966,362 7,966,362 7,966,362 7,966,362 Undistributed profits 99,470,943 87,074,453 25,502,145 25,795,300 Total equity attributable to shareholders of the Company 118,53