老板电器：2021年半年度报告（英文版）.PDF

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1、 Full Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.Hangzhou Robam Appliances Co.,Ltd.Semi-Annual Report 2021 August 2021 Full Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.1 Chapter 1 Important Notes,Contents and Interpretations The Board of Directors,t

2、he Board of Supervisors,as well as the directors,supervisors and senior management of Hangzhou Robam Appliances Co.,Ltd.(the Company)hereby guarantee that there are no false representations,misleading statements,or material omissions in this Semi-Annual Report(“the Report”),and are severally and joi

3、ntly liable for the authenticity,accuracy and completeness of the information contained herein.Ren Jianhua,the head of the Company,Zhang Guofu,the person in charge of the Companys accounting,and Zhang Guofu,the head of the accounting department(the accountant in charge)hereby declare and warrant tha

4、t the financial report contained in the Report is authentic,accurate,and complete.All the directors attended a board meeting,during which they reviewed the Report.The Company does not plan to distribute cash dividends or bonus shares,or convert capital reserve into capital stock.Full Text of Semi-An

5、nual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.2 Contents Chapter 1 Important Notes,Contents and Interpretations.1 Chapter 2 Company Profile and Major Financial Indicators.5 Chapter 3 Management Discussion and Analysis.8 Chapter 4 Corporate Governance.16 Chapter 5 Environmental and Social Res

6、ponsibilities.18 Chapter 6 Significant Matters.19 Chapter 7 Changes in Shares and Shareholders.25 Chapter 8 Preferred Shares.30 Chapter 9 Bonds.31 Chapter 10 Financial Report.32 Full Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.3 Documents available for reference I.Financial

7、statement signed by the legal representative,the person in charge of accounting and the accounting firm principal and affixed with seal.II.Original copies of documents and announcements of the Company published in the newspaper designated by China Securities Regulatory Commission during the Reportin

8、g Period.III.The Semi-Annual Report 2021 signed by the legal representative.IV.Other information.Full Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.4 Interpretations Item refer(s)to Contents The Company,Company,Robam Appliances refer to Hangzhou Robam Appliances Co.,Ltd.MingQi

9、 refers to Hangzhou MingQi Electric Co.,Ltd.The Group refers to Robam Appliances,MingQi,Beijing Robam Appliances Sales Co.,Ltd.,Shanghai Robam Appliances Sales Co.,Ltd.,Kinde Intelligent Robam Group refers to Hangzhou Robam Industrial Group Co.,Ltd.,controlling shareholder of the Company The reporti

10、ng period refers to The first half of 2021 Kinde refers to Shengzhou Kinde Intelligent Kitchen Appliances Co.,Ltd.AVC refers to Beijing All View Cloud Data Technology Co.,Ltd.Full Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.5 Chapter 2 Company Profile and Major Financial Ind

11、icators I.Company Profile Stock abbreviation Robam Stock code 002508 Stocks traded on Shenzhen Stock Exchange Chinese name of the Company 杭州老板电器股份有限公司 Short Chinese name of the Company(if any)老板电器 Legal representative of the Company Ren Jianhua II.Contact Person and Contact Information Secretary of

12、the Board of Directors Representative of securities affairs Name Wang Gang Jiang Yu Contact address No.592,Linping Avenue,Yuhang Economic Development Zone,Hangzhou,Zhejiang Province No.592,Linping Avenue,Yuhang Economic Development Zone,Hangzhou,Zhejiang Province Telephone 0571-86187810 0571-8618781

13、0 Fax 0571-86187769 0571-86187769 E-mail III.Other Information 1.Contact information Whether the registered address,office address and zip code as well as the website and email address of the Company changed during the reporting period?Applicable Not Applicable There are no changes in the registered

14、 address,office address and zip code as well as the website and email address of the Company during the reporting period.For details,please refer to the Annual Report 2020.2.Information disclosure and filing location Whether the information disclosure and filing locations changed during the reportin

15、g period?Applicable Not Applicable The location for filing the semi-annual report of the Company.For details,please refer to the Annual Report 2020.IV.Key Accounting Data and Financial Indicators Whether the Company needs to retroactively adjust or restate the accounting data of previous years?Full

16、Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.6 Yes No The reporting period The same period last year YoY change Operating Income(RMB)4,326,082,031.62 3,211,172,335.79 34.72%Net profit attributable to shareholders of the listed company(RMB)790,388,759.79 612,317,249.29 29.08%N

17、et profit attributable to shareholders of the listed company after deducting non-recurring gains/losses(RMB)746,385,371.21 551,320,432.05 35.38%Net cash flow from operating activities(RMB)530,226,316.50 407,687,133.56 30.06%Basic earnings per share(EPS)(RMB/share)0.83 0.65 27.69%Diluted EPS(RMB/shar

18、e)0.83 0.65 27.69%Weighted average return on net assets 9.49%8.64%An increase of 0.85%End of the reporting period End of last year Change Total assets(RMB)13,072,209,609.54 12,457,568,276.25 4.93%Net assets attributable to shareholders of the listed company(RMB)8,146,337,365.16 8,050,626,815.35 1.19

19、%V.Differences in Accounting Data under Domestic and Foreign Accounting Standards 1.Whether there are differences in the net profit and net asset disclosed in the Financial Report under International Accounting Standards(IAS)and Chinas accounting standards?Applicable Not Applicable There is no diffe

20、rence in the net profit and net asset disclosed in the Financial Report under IAS and Chinas accounting standards during the reporting period.2.Whether there are differences in the net profit and net asset disclosed in the Financial Report under foreign accounting standards and Chinas accounting sta

21、ndards during?Applicable Not Applicable There is no difference in the net profit and net asset disclosed in the Financial Report under foreign accounting standards and Chinas accounting standards during the reporting period.VI.Items and Amounts of Non-recurring Gains and Losses Applicable Not Applic

22、able In RMB Item Amount Description Gains and losses on disposal of non-current assets(including the part written-off with provision for asset impairment accrued)-2,037,766.59 Full Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.7 Government subsidy included in current gains and

23、 losses(except the government subsidy closely related to the Companys business and enjoyed by quota or ration in accordance with the unified national standard)55,099,765.01 Other gain/loss items conforming to the definition of non-recurring gains/losses -393,630.96 Less:Affected amount of income tax

24、 8,184,399.67 Affected amount of minority shareholders equity(after tax)480,579.21 Total 44,003,388.58-Full Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.8 Chapter 3 Management Discussion and Analysis I.Main Businesses during the Reporting Period In the first half year of 2021

25、,the kitchen appliances industry continued its recovery,with rapid growth in all channels.In terms of the retail channel,the offline consuming willingness of the consumers increased significantly.As shown in AVC monthly data report based on offline retail monitoring(“AVC Offline Report”),the year-on

26、-year(YoY)growths of the retail sales of the main categories of kitchen appliances,i.e.range hoods and gas stoves,registered 19.4%and 12.2%respectively,reversing the trend of sharp decline in three consecutive years and achieving double-digit growth.In terms of the e-commerce channels,online consump

27、tion habits continue,driving high growth in online consumption.As shown in AVC monthly data report based on online retail monitoring(“AVC Online Report”),the year-on-year(YoY)growth of the retail sales of the kitchen appliances package registered 24.3%.In terms of the engineering channel,as shown in

28、 AVC 2021 H1 China Range Hood and Stove Market Summary Report(“AVC Fine Decoration Report”),from January to June 2021,the ratio of finely decorated houses was 32%,and the matching rate of range hood and stove was 97.3%and 95.9%respectively.The matching rate of built-in combi-steam oven and built-in

29、dishwasher was 2.5%and 17.6%,with YoY growth of 1.7%and 8.1%respectively.The popularity rate and package rate of fine decoration continued to rise with huge room for future improvements.As a leader in the industry,the Company closely adhered to the annual operation philosophy of building dreams and

30、moving forward amidst difficulties,firmly seized the opportunity given by industry concentration,steadily increased its share in the industry of traditional kitchen appliances and made rapid breakthroughs in new kitchen categories.In the first half year of 2021,the Company achieved operating revenue

31、 of RMB 4.326 billion,with a YoY increase of 34.72%,and net profit attributable to shareholders of the listed company was RMB 790 million,with a YoY increase of 29.08%,which were both significantly higher than the industry average level.As of June 30,2021,according to AVC Offline Report,the market s

32、hares and market rankings of the Companys main product categories in terms of offline retail sales are shown in the following table:Range hoods Gas stove Disinfection cabinet Built-in combi-steam oven Built-in electric steam oven Built-in electric oven Built-in dishwasher 30.50%29.50%22.10%34.00%21.

33、60%39.80%18.10%1 1 2 1 2 2 2 As of June 30,2021,according to AVC Online Report,the market shares and market rankings of the Companys main product categories in terms of online retail sales are shown in the following table:Kitchen appliance package 2-piece package of range hood and stove Range hoods

34、Gas stove Built-in combi-steam oven Built-in electric steam oven Built-in dishwasher 28.50%30.00%17.10%9.8%13.50%22.5%6.3%1 1 1 3 3 2 5 As of May 31,2021,according to AVC Fine Decoration Report,the market share of Robam range hoods in the fine decoration channel was 36.5%,ranking No.1 in the industr

35、y.In the first half year of 2021,the Company continued to increase its investment in technology research and development.The performance and appearance of products in each category group Full Text of Semi-Annual Report 2021 of Hangzhou Robam Appliances Co.,Ltd.9 continued to be upgraded,and the Crea

36、ting New Chinese Kitchen program was fully implemented.The Company released the standards for the 5th generation of large suction hood,carried out comprehensive upgrade of hoods in terms of smart judgment,double collection,direct suction,frequency conversion and wash-free,launched Robam dual-chamber

37、 large suction hood series,and officially introduced the 5th generation of large suction hood to Chinese kitchen.The Company released the quality flame industry standard of gas stove,adopted innovative bi-directional and double internal flame combustion structure as well as double fixed temperature

38、plate,and launched Robam purple flame great fire gas stove 9B515.The Company introduced new upgraded built-in combi-steam oven series and Robam frying-steaming-baking ovenCQ926,integrating frying,steaming and baking,equipped with Pengpai Great Steam System and realizing multi-stage combined cooking

39、of steaming and baking.In addition,the Company released the Chinese Kitchen Dishwasher Technical Specifications and launched Robam Power Washing Dishwasher WB755,which is more suitable for Chinese cabinet and Chinese tableware placement and applies the four-layers three-way spraying technology to ov

40、ercome the difficulty of washing and cleaning heavy oil and heavy dirt and realize washing,disinfection,drying and storage in one step.In the first half year of 2021,the Company applied for 287 patents,including 48 invention patents,and 254 patents were granted,including 6 invention patents.In addit

41、ion,the Company led the development of four standards such as the Noise and Quality Evaluation Grade of Range Hoods and the Combi-steam Oven;The Company participated in the development of 11 standards such as the Range Hoods and the Technical Requirements and the Test Methods of Antibacterial and De

42、germing Function for Dishwashers.The Company won the first prize of Science and Technology Progress of China National Light Industry Council,the second prize of Award for Scientific and Technological Advancement of Zhejiang Province,the second prize of Quality Technology Award of China Association f

43、or Quality and other awards.In the first half year of 2021,in terms of the marketing,Robam deepened the high-end positioning of the brand,relied on a rich product matrix and took advantage of multiple channels to provide consumers with professional kitchen appliances solutions.In terms of the retail

44、 channel,the Company strengthened the Robam Four-piece package sales strategy,focused on improving the scale and share of range hoods,and empowered its products of the second and third categories;the Company strengthened the flat construction of KA and specialty store system,and implemented digital

45、reform of marketing to improve efficiency.In terms of the e-commerce channels,the Company consolidated the advantages as one of the mainstream e-commerce platforms through continuous update and iteration of new products;the Company exploited new media platforms and carried out content-based marketin

46、g to strengthen the viscosity of brand with customers Robam combined marketing with services,and grabbed the share in the stock market.In terms of the engineering channel,the Company continued to optimize the customer and product structure,promoted the kitchen appliances package solutions for refine

47、 decoration,and further popularized the application of central range hoods.As regards the innovation channel,the Company worked more closely with leading whole house customization companies and home decoration companies,expanded the scale of long-tail customers,seized the front-end traffic entrance,

48、and comprehensively improved the conversion rate and matching rate.For the overseas channel,the Company strengthened its global layout,actively responded to the risk of overseas outbreak and steadily promoted the internationalization of the brand.In the first half year of 2021,in terms of the produc

49、tion,the Company was committed to exploring a new pathway for the transformation and upgrading of Chinese high-end kitchen appliances manufacturing and creating one of the most competitive manufacturing benchmarks for the comprehensive competitiveness of Chinese manufacturing industry.The data-drive

50、n Robam Jiutian Central Digital Platform closely connected manufacturing with users and realized the integration of industrial internet and consumer internet systems.Robam digital cooking chain centered on Chinese cooking curve,collected cooking scenarios and user data to achieve zero distance betwe