Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
Stock code: 002508 Stock name: Robam Appliances Announcement No.: 2026-008
Hangzhou Robam Appliances Co., Ltd.
Q1 2026 Report
Hangzhou Robam Appliances Co., Ltd. (the Company) and all members of its Board of Directors hereby guarantee that there
are no false representations, misleading statements or material omissions in this Quarterly Report (“the Report”), and the
information contained herein is authentic, accurate and complete.
Important Notes
representations, misleading statements or material omissions in the Report, and are severally and jointly liable for the authenticity,
accuracy and completeness of the information contained herein.
(the accountant in charge) hereby declare and warrant that the financial report contained in the Report is authentic, accurate, and
complete.
□ Yes No
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
I. Key Financial Data
(I) Key Accounting Data and Financial Indicators
Whether the Company needs to retroactively adjust or restate the accounting data of previous years?
□ Yes No
The reporting period The same period last year YoY change (%)
Operating Income (RMB) 1,962,936,648.19 2,076,194,452.05 -5.46
Net profit attributable to
shareholders of the listed 306,638,947.40 340,019,016.58 -9.82
company (RMB)
Net profit attributable to
shareholders of the listed
company after deducting non-
recurring gains/losses (RMB)
Net cash flow from operating
-421,237,858.82 -187,492,962.49 -124.67
activities (RMB)
Basic earnings per share
(EPS) (RMB/share)
Diluted EPS (RMB/share) 0.32 0.36 -11.11
Weighted average return on
net assets
End of the reporting period End of last year Change (%)
Total assets (RMB) 16,663,562,175.70 17,208,063,114.15 -3.16
Owner's equity attributable to
shareholders of the listed 11,806,502,571.19 11,497,455,691.08 2.69
company (RMB)
(II) Items and Amounts of Non-recurring Gains and Losses
Applicable □Not applicable
In RMB
Item Amount for the current reporting period Description
Gains and losses on disposal of non-
current assets (including the written-off
-270,772.04
part of the provision for asset impairment
accrued)
Government subsidies included in
current gains and losses (excluding
government subsidies closely related to
the Company's normal business, in line
with national policy, enjoyed according
to established standards, and having a
sustained impact on the Company's gains
and losses).
Reversal of impairment provision for
accounts receivable tested for 46,730,420.37
impairment separately
Other non-operating revenues and
-961,715.42
expenses except the above items
Less: Affected amount of income tax 9,314,038.00
Affected amount of minority 259,768.43
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
shareholders’ equity (after tax)
Total 47,866,514.46 --
Other items of gains and losses meeting the definition of non-recurring gains and losses
□Applicable Not applicable
The Company does not have other items of gains and losses meeting the definition of non-recurring gains and losses
Explanation on the circumstance where items of the non-recurring gains and losses enumerated in the Explanatory Announcement
No. 1 on Information Disclosure for Companies Offering Their Securities to the Public — Non-recurring Gains and Losses
(referred to as “Announcement No.1”) are defined as recurring gains and losses
□Applicable Not applicable
There is no circumstance where items of non-recurring gains and losses enumerated in accordance with the Announcement No. 1
are defined as recurring gains and losses.
(III) Changes in Major Accounting Data and Financial Indicators and Their Reasons
Applicable □Not applicable
As at the end of the reporting period, non-current assets due within one year increased by 38.08% compared with the beginning of
the year, mainly due to the increase in financial management products maturing within one year.
As at the end of the reporting period, other non-current financial assets decreased by 100% compared with the beginning of the
year, mainly due to the maturity and redemption of financial management products.
As at the end of the reporting period, payroll payable to employees decreased by 82.95% compared with the beginning of the year,
mainly due to the completion of payment of salaries and bonuses accrued at the end of 2025.
During the reporting period, investment income increased by 732.58% compared with the same period last year, mainly due to the
increase in income from matured financial management products.
During the reporting period, investment income from associates and joint ventures increased by 101.94% as compared to the same
period last year, mainly due to the increase in income from equity investments.
During the reporting period, asset impairment losses increased by 328.8% compared with the same period last year, mainly due to
the increase in project mortgage properties and a higher provision ratio for impairment of such properties.
During the reporting period, gains on asset disposals increased by 86.94% compared with the same period last year, mainly due to
the reduction in the losses from the sale of project mortgage properties.
During the reporting period, non-operating income increased by 45.77% compared with the same period last year, mainly due to
the increase in payables that could not be paid.
During the reporting period, non-operating expenses increased by 44.56% compared with the same period last year, mainly due to
increased tax losses.
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
During the reporting period, minority shareholders' gains and losses increased by 85.31% compared with the same period last year,
mainly due to reduced losses of subsidiaries.
During the reporting period, net cash flows from operating activities decreased by 124.67% as compared with the same period last
year, mainly due to reduced cash receipts from sales and increased payments of expenses.
During the reporting period, net cash flows from investment activities increased by 3518.96% as compared with the same period
of last year, mainly due to the increase in the recovery of time deposits and financial management products at maturity.
During the reporting period, net cash flows from financing activities decreased by 103.21% as compared with the same period of
last year, mainly due to repayment of bank loans by subsidiaries.
II. Shareholder Information
(I) Total Number of Common Shareholders and Preferred Shareholders with the Voting Rights
Recovered and Shareholding of the Top 10 Shareholders
Unit: share
Total number of common Total number of preferred shareholders with the
shareholders at the end of the 41,108 voting rights recovered at the end of reporting period 0
reporting period (if any)
Shareholdings of the top 10 shareholders (excluding shares lent through refinancing)
Number of Pledged, marked or frozen shares
Nature of
Shareholding Number of shares subject
Name of shareholder sharehold
(%) shares to sales Status Quantity
er
restrictions
Domestic
Hangzhou Robam non-state-
Industrial Group Co., owned 49.90% 471,510,000 0 Not Applicable 0
Ltd. corporatio
n
Hong Kong Overseas
Securities Clearing corporatio 4.96% 46,867,788 0 Not Applicable 0
Company Limited n
China Merchants
Bank Co., Ltd. -
ICBC Credit Suisse
Others 1.73% 16,368,627 0 Not Applicable 0
Value Selected
Hybrid Securities
Investment Fund
Domestic
Shen Guoying natural 1.30% 12,240,000 0 Not Applicable 0
person
China Life Insurance
(Group) Company -
Traditional -
Ordinary Insurance Others 0.94% 8,906,200 0 Not Applicable 0
Products - Hong
Kong Stock Connect
(Innovative Strategy)
China Construction Others 0.77% 7,254,205 0 Not Applicable 0
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
Bank Corporation -
HSBC Jintrust
Dynamic Strategy
Mixed Securities
Investment Fund
State-
Industrial Securities owned
Co., Ltd. corporatio
n
China Pacific Life
Insurance Co., Ltd.
－ Traditional － Others 0.72% 6,786,700 0 Not Applicable 0
Ordinary Insurance
Products
Domestic
non-state-
Hangzhou Jinchuang
owned 0.70% 6,640,085 0 Not Applicable 0
Investment Co., Ltd.
corporatio
n
Schroder Investment
Management (Hong
Overseas
Kong) Limited -
corporatio 0.68% 6,435,300 0 Not Applicable 0
Schroder Global
n
Equity Fund China
A-Shares (Exchange)
Shareholdings of the top 10 shareholders not subject to sales restrictions (excluding shares lent through refinancing and executive
locked shares)
Type of share
Name of shareholder Number of shares not subject to sales restrictions
Type of share Quantity
Hangzhou Robam Industrial RMB ordinary
Group Co., Ltd. shares
Hong Kong Securities Clearing RMB ordinary
Company Limited shares
China Merchants Bank Co., Ltd.
- ICBC Credit Suisse Value RMB ordinary
Selected Hybrid Securities shares
Investment Fund
RMB ordinary
Shen Guoying 12,240,000 12,240,000
shares
China Life Insurance (Group)
Company - Traditional - Ordinary
RMB ordinary
Insurance 8,906,200 8,906,200
shares
Products - Hong Kong Stock
Connect (Innovative Strategy)
China Construction Bank
Corporation – RMB ordinary
HSBC Jintrust Dynamic Strategy shares
Mixed Securities Investment Fund
RMB ordinary
Industrial Securities Co., Ltd. 6,792,500 6,792,500
shares
China Pacific Life Insurance Co.,
Ltd. RMB ordinary
- Traditional - Ordinary shares
Insurance Products
Hangzhou Jinchuang Investment RMB ordinary
Co., Ltd. shares
Schroder Investment Management 6,435,300 RMB ordinary 6,435,300
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
(Hong Kong) shares
Limited - Schroeder Global
Equity Fund China A-Shares
(Exchange)
Mr. Ren Jianhua is the controlling shareholder of the Company,
shareholder of Hangzhou Robam Industrial Group Co., Ltd., and the
Description of the associated relationship or
actual controller of Hangzhou Jinchuang Investment Co., Ltd.; and the
consistent actions of the above shareholders
natural person shareholder, Shen Guoying, is his wife. Therefore, there is
a possibility that these shareholders will act in concert.
Description of the top 10 shareholders engaging in
None
securities margin trading (if any)
Shares lending through refinancing involving shareholders holding more than 5% of the shares, the top 10 shareholders, and the
top 10 shareholders of unrestricted circulating shares
□Applicable Not applicable
Compared to the previous period, the change is due to the top 10 shareholders and the top 10 unrestricted circulating shareholders
lending/returning shares for refinancing purposes.
□Applicable Not applicable
(II) Total Number of the Company’s Preferred Shareholders and Shareholding of the Top 10 Preferred
Shareholders
□Applicable Not applicable
III. Other Significant Matters
□Applicable Not applicable
IV. Quarterly Financial Statements
(i) Financial Statements
Prepared by: Hangzhou Robam Appliances Co., Ltd.
March 31, 2026
In RMB
Item Ending balance Beginning balance
Current assets:
Cash and cash equivalents 1,488,871,187.68 1,236,257,860.53
Deposit reservation for balance
Lendings to banks and other financial
institutions
Financial assets held for trading 3,130,000,000.00 3,230,000,000.00
Derivative financial assets
Notes receivable 566,231,011.28 578,435,043.55
Accounts receivable 1,431,069,907.31 1,501,774,623.23
Accounts receivable financing
Prepayments 225,816,214.80 186,281,708.91
Receivable premium
Reinsurance accounts receivable
Reinsurance contract reserves
receivable
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
Other receivables 81,093,236.82 73,533,704.37
Inc: Interests receivable
Dividends receivable 400,000.00
Redemptory monetary capital for sale
Inventory 1,295,256,052.45 1,360,022,769.09
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one year 689,233,004.55 499,143,689.50
Other current assets 84,824,458.12 88,468,071.99
Total current assets 8,992,395,073.01 8,753,917,471.17
Non-current assets:
Loans and advances
Creditors investment
Other debt investment
Long-term account receivable
Long-term equity investment 4,453,277.97 4,395,119.95
Investment in other equity instruments 2,116,023.22 2,116,023.22
Other non-current financial assets 800,451,400.00
Investment properties 72,020,154.56 81,013,670.91
Fixed assets 2,148,005,123.14 2,173,675,186.21
Construction in process 46,571,223.87 46,511,377.40
Biological assets for production
Oil & gas assets
Right of use assets 7,558,579.01 8,102,992.49
Intangible assets 193,895,108.26 196,406,397.41
Including: Data resources
Development expenditure
Including: Data resources
Goodwill
Long-term prepaid expenses 2,519,769.60 3,252,717.83
Deferred income tax assets: 331,606,338.26 325,584,003.83
Other non-current assets 4,862,421,504.80 4,812,636,753.73
Total non-current assets 7,671,167,102.69 8,454,145,642.98
Total assets 16,663,562,175.70 17,208,063,114.15
Current liabilities:
Short-term borrowings 98,227,931.96 97,738,579.05
Borrowings from the central bank
Borrowings from banks and other
financial institutions
Financial liabilities held for trading
Derivative financial liabilities
Notes payables 1,131,998,412.65 1,102,064,932.55
Accounts payable 2,071,769,411.69 2,655,136,329.40
Advance receipts
Contract liabilities 802,025,098.60 932,559,161.31
Financial assets sold for repurchase
Deposits from customers and
interbank
Receivings from vicariously traded
securities
Receivings from vicariously traded
securities
Payroll payable 30,662,344.32 179,852,713.89
Taxes payable 122,690,949.16 121,036,736.76
Other payables 291,622,450.12 294,434,125.10
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
Inc: Interests payable
Dividends payable
Fees and commissions payable
Dividends payable for reinsurance
Liabilities held for sale
Non-current liabilities due within one
year
Other current liabilities 84,516,399.73 102,759,019.62
Total current liabilities 4,635,165,107.52 5,487,549,488.98
Non-current liabilities:
Reserves for insurance contracts
Long-term loans
Bonds payable
Inc: Preferred shares
Perpetual bonds
Lease liabilities 7,397,350.28 7,867,003.07
Long-term accounts payable
Long-term payroll payable
Estimated liabilities
Deferred income 96,352,192.73 100,318,829.17
Deferred income tax liabilities 44,379,865.96 40,433,744.03
Other non-current liabilities
Total non-current liabilities 148,129,408.97 148,619,576.27
Total liabilities 4,783,294,516.49 5,636,169,065.25
Owner’s equity:
Capital stock 944,938,916.00 944,938,916.00
Other equity instruments
Inc: Preferred shares
Perpetual bonds
Capital reserve 250,427,239.59 245,855,894.16
Less: treasury share
Other comprehensive income -102,022,744.97 -99,859,332.25
Special reserve
Surplus reserve 474,516,412.50 474,516,412.50
General risk reserves
Undistributed profits 10,238,642,748.07 9,932,003,800.67
Total owners’ equity attributable to the
parent company
Minority interests 73,765,088.02 74,438,357.82
Total owners’ equity 11,880,267,659.21 11,571,894,048.90
Total liabilities and owner’s equity 16,663,562,175.70 17,208,063,114.15
Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu Head of the accounting department: Zhang Guofu
In RMB
Item Amount of the current period Amount of the previous period
I. Total operating income 1,962,936,648.19 2,076,194,452.05
Inc: Operating income 1,962,936,648.19 2,076,194,452.05
Interest income
Earned premium
Fee and commission income
II. Total operating costs 1,669,917,028.26 1,752,513,463.62
Inc: Operating costs 900,942,867.19 981,571,995.43
Interest expenses
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
Fee and commission expenses
Surrender value
Net payments for insurance
claims
Net allotment of reserves for
insurance liabilities
Policy dividend expenditures
Reinsurance expenses
Taxes and surcharges 9,336,043.07 9,148,370.58
Sales expenses 624,831,408.45 636,571,393.23
Administrative expenses 104,986,934.55 96,991,129.85
R&D expenses 60,755,346.55 62,500,918.10
Financial expenses -30,935,571.55 -34,270,343.57
Including: Interest expenses 780,231.95 883,305.19
Interest income 34,815,657.42 35,677,782.29
Add: other income 48,251,789.09 40,262,154.52
Investment income (“-” for
losses)
Including: Income from
investment in joint ventures and 58,158.02 -3,004,364.10
affiliated enterprises
Gains on
derecognition of financial assets
measured at amortized cost
Exchange gains (“-” for losses)
Net exposure hedging gains (“-”
for losses)
Gains from changes in fair value
(“-” for losses)
Losses from credit impairment
(“-” for losses)
Losses from asset impairment (“-
-26,137,146.15 11,423,666.09
” for losses)
Gains on disposal of assets (“-”
-269,628.95 -2,064,442.82
for losses)
III. Operating profits (“-” for losses) 363,680,998.28 399,237,096.37
Add: non-operating income 755,658.47 518,377.14
Less: non-operating expenditure 1,718,516.98 1,188,766.48
IV. Total profits (“-” for total losses) 362,718,139.77 398,566,707.03
Less: income tax expenses 56,726,612.66 62,954,693.12
V. Net profits (“-” for losses) 305,991,527.11 335,612,013.91
(I) By operational sustainability
operations (“-” for net losses)
operations (“-” for net losses)
(II) By ownership
of the parent company
-647,420.29 -4,407,002.67
losses
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
VI. After-tax net amount of other
-2,189,262.23 -345,118.46
comprehensive income
After-tax net amount of other
comprehensive income attributable to the -2,163,412.72 -345,118.46
owners of parent company
(I) Other comprehensive income
that cannot be reclassified into gains and
losses
defined benefit plans
which cannot be transferred into gains or
losses under the equity method
investment in other equity instruments
credit risk of the Company
(II) Other comprehensive income
which will be reclassified into gains and -2,163,412.72 -345,118.46
losses
which can be transferred into gains and
losses under the equity method
debt investments
reclassified into other comprehensive
income
of other debt investments
-2,163,412.72 -345,118.46
currency statements
After-tax net amount of other
comprehensive income attributable to -25,849.51
minority shareholders
VII. Total comprehensive income 303,802,264.88 335,266,895.45
Total comprehensive income
attributable to owners of the parent 304,475,534.68 339,673,898.12
company
Total comprehensive income
-673,269.80 -4,407,002.67
attributable to minority shareholders
VIII. Earnings per share (EPS):
(I) Basic EPS 0.32 0.36
(II) Diluted EPS 0.32 0.36
In the case of merger of enterprises under the same control in the current period, the net profit realized by the merged party before
the merger is: RMB 0.00, and the net profit realized by the merged party in the previous period is: RMB 0.00.
Legal representative: Ren Jianhua Person in charge of accounting: Zhang Guofu Head of the accounting department: Zhang Guofu
In RMB
Item Amount of the current period Amount of the previous period
I. Cash flow from operating activities:
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
Cash received for the sale of goods
and rendering of services
Net increase in clients’ deposits and
deposits from banks and other financial
institutions
Net increase in borrowings from the
central bank
Net increase in borrowings from other
financial institutions
Cash received from receiving
insurance premium of the original
insurance contract
Net cash from receiving reinsurance
premium
Net increase in deposits and
investment of insured persons
Cash received from interests, fees and
commissions
Net increase in borrowed funds
Net increase in repurchase business
funds
Net cash received from vicariously
traded securities
Refunds of taxes 27,766,131.47 12,102,370.96
Cash received relating to other
operating activities
Subtotal of cash inflow from operating
activities
Cash paid for purchased products and
received services
Net increase in loans and advances to
customers
Net increase in deposits with the
central bank and other financial
institutions
Cash paid for claims of original
insurance contract
Net increase in lending funds
Cash paid for interests, fees and
commissions
Cash paid for policy dividends
Cash paid to and on behalf of
employees
Cash paid for taxes 120,951,755.05 176,766,557.79
Cash paid related to other operating
activities
Subtotal of cash outflow from operating
activities
Net cash flow from operating activities -421,237,858.82 -187,492,962.49
II. Cash flow from investment activities:
Cash received from return of
investments
Cash received from return on 22,777,765.52 5,688,700.00
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
investments
Net cash received from disposal of
fixed assets, intangible assets and other 29,294.70
long-term assets
Net cash received from disposal of
subsidiaries and other business entities
Cashes received related to other
investment activities
Subtotal of cash inflow from investment
activities
Cash paid for purchase and
construction of fixed assets, intangible 69,056,600.06 63,778,233.36
assets and other long-term assets
Cash paid to investments 890,000,000.00 1,350,000,000.00
Net increase in pledged loans
Net cash from subsidiaries and other
operating entities
Cash paid related to other investment
activities
Subtotal of cash outflow from investment
activities
Net cash flow from investment activities 681,500,260.14 18,831,405.18
III. Cash flow from financing activities:
Cash from acquiring investments 2,337,012.70
Including: Cash received by
subsidiaries from investments of 1,677,616.20
minority shareholders
Cash from acquiring debts 42,100,000.00 39,600,000.00
Other cashes received in relation to
financing activities
Subtotal of cash inflow from financing
activities
Cash paid for repayments of debts 41,608,555.85 33,013,457.92
Cash paid for distribution of
dividends, profits or interest expenses
Including: Dividends or profits paid
by subsidiaries to minority shareholders
Other cashes paid in relation to
financing activities
Subtotal of cash outflow from financing
activities
Net cash flow from financing activities -247,921.85 7,715,099.19
IV. Effect of change in exchange rate on
-740,065.96 -61,589.16
cash and cash equivalents
V. Net increase in cash and cash
equivalents
Plus: Opening balance of cash and
cash equivalents
VI. Closing balance of cash and cash
equivalents
(II) Relevant financial statement items at the beginning of 2026 when the adjustments
stipulated in the new accounting standards apply for the first time
□Applicable Not applicable
Q1 2026 Report of Hangzhou Robam Appliances Co., Ltd.
(III) Audit report
Whether the Q1 financial report has been audited?
□ Yes No
The Q1 financial report of the Company has not been audited.
Board of Directors of Hangzhou Robam Appliances Co., Ltd.
April 28, 2026
