Stock code: 000333 Stock name: Midea Group Announcement No.: 2022-031
Midea Group Co., Ltd.Interim Report for the First Quarter 2022Midea Group Co., Ltd. (hereinafter referred to as the “Company”) and all the members of theCompany’s Board of Directors have warranted that the information given in this Report is true, accurateand 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 seniormanagement staff of the Company have warranted that this Report contains no false record, misleadingstatement 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 ofthe Company have represented and warranted that the financial information in this Report is true,accurate and complete.
3. Is this Report audited by a CPA firm?
□ Yes √ No
This Report has been prepared in both Chinese and English. Should there be any discrepancies ormisunderstandings 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
| Jan.-Mar. 2022 | Jan.-Mar. 2021 | YoY Change (%) | ||
| Before | Restated | Restated | ||
| Operating revenue (RMB'000) | 90,381,167 | 82,504,017 | 82,504,017 | 9.55% |
| Net profit attributable to shareholders of the Company (RMB'000) | 7,177,925 | 6,468,588 | 6,468,588 | 10.97% |
| Net profit attributable to shareholders of the Company before non-recurring gains and losses (RMB'000) | 6,993,024 | 6,649,368 | 6,649,368 | 5.17% |
| Net cash flows from operating activities (RMB'000) | 7,978,986 | 8,553,861 | 8,553,861 | -6.72% |
| Basic earnings per share (RMB/share) | 1.06 | 0.93 | 0.93 | 13.98% |
| Diluted earnings per share (RMB/share) | 1.05 | 0.92 | 0.92 | 14.13% |
| Weighted average ROE (%) | 5.57% | 5.35% | 5.35% | 0.22% |
| 31 Mar. 2022 | 31 Dec. 2021 | Change (%) | ||
| Before | Restated | Restated | ||
| Total assets (RMB'000) | 407,842,387 | 387,946,104 | 387,946,104 | 5.13% |
| Net assets attributable to shareholders of the Company (RMB'000) | 132,301,754 | 124,868,124 | 124,868,124 | 5.95% |
Reasons for the changes to the accounting policies:
The Company has prepared the financial statements for the year ended 31 December 2021 and for thethree months ended 31 March 2022 according to the Q&A for the Implementation of the AccountingStandards for Business Enterprises issued by the Ministry of Finance on 2 November 2021. Fortransportation costs that were incurred before the control of goods was handed over to customers andfor the purpose of executing sales contracts, the Company has reclassified them from selling anddistribution expenses to cost of sales, and has retrospectively restated the relevant data in the sameperiod of last year.
Total share capital of the Company on the last trading session before disclosure:
| Total share capital of the Company on the last trading session before disclosure (share) | 6,997,053,441 |
Fully diluted earnings per share based on the latest share capital above:
| Dividend paid to preference shareholders | - |
| Fully diluted earnings per share based on the latest share capital above (RMB/share) | 1.0258 |
1.2 Non-recurring gains and losses
√ Applicable □ N/A
Unit: RMB’000
| Item | Jan.-Mar. 2022 | Note |
| Gains and losses on disposal of non-current assets | 12,679 | |
| 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 | -261,362 | |
| Other | 366,109 | |
| Less: Corporate income tax | 8,058 | |
| Minority interests (after tax) | 59,418 | |
| Total | 184,901 | -- |
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<Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities tothe Public—Non-Recurring Gains and Losses> 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 thereasons for the changes
√ Applicable □ N/A
Unit: RMB’000
| Financial statement items (consolidated) | 31 March 2022/January-March 2022 | 31 December 2021/January-March 2021 | Change (%) | Reasons for the changes |
| Other current assets | 46,465,237 | 33,156,012 | 40.14% | Mainly due to the increased monetary investment products |
| Loans with the Central Bank | 308,403 | 178,878 | 72.41% | Mainly due to the changes in the operations of the finance business |
| Financial liabilities held for trading | 1,565,346 | - | 100.00% | Mainly due to the increased business combinations |
| Derivative financial liabilities | 252,234 | 157,602 | 60.04% | Mainly due to the changes in the fair value of derivative instruments |
| Employee benefits payable | 4,551,048 | 7,535,168 | -39.60% | Mainly due to the payment of salaries to employees |
| Bonds payable | 2,853,438 | - | 100.00% | Mainly due to the issuance of bonds |
| Interest costs | 33,226 | 15,059 | 120.64% | Mainly due to the changes in the operations of the finance business |
| Investment income | 261,189 | 531,167 | -50.83% | Mainly due to the decreased interest income from structured deposits |
| Gains/(losses) on changes in fair value | -416,409 | -830,632 | -49.87% | Mainly due to the changes in the fair value of financial assets |
| Asset impairment losses | 6,945 | 1,400 | 396.07% | Mainly due to the increased gains on disposal of non-current assets |
| Net profit attributable to minority interests | 50,656 | 100,849 | -49.77% | Mainly due to the decreased profits of non-wholly-owned subsidiaries |
| Net cash flows from investing activities | -11,536,258 | -932,059 | -1137.72% | Mainly due to the increased cash paid to acquire investments |
| Net cash flows from financing activities | 8,587,145 | -3,537,964 | 342.71% | Mainly due to the decreased cash payments relating to other financing activities |
2. Shareholder information
2.1 Total number of common shareholders and preference shareholders with resumed votingrights, as well as shareholdings of the top ten shareholders at the period-end
Unit: share
| Total number of common shareholders at the period-end | 438,206 | Total number of preference shareholders with resumed voting rights at the | 0 |
| period-end (if any) | ||||||||||
| Top 10 shareholders | ||||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage (%) | Number of shares held | Number of restricted shares held | Pledged or frozen shares | |||||
| Status | Shares | |||||||||
| Midea Holding Co., Ltd. | Domestic non-state-owned corporation | 30.99 | 2,169,178,713 | Pledged | 100,000,000 | |||||
| Hong Kong Securities Clearing Company Limited | Foreign corporation | 16.89 | 1,182,613,943 | |||||||
| China Securities Finance Co., Ltd. | Domestic non-state-owned corporation | 2.83 | 198,145,134 | |||||||
| Fang Hongbo | Domestic individual | 1.67 | 116,990,492 | 87,742,869 | ||||||
| Central Huijin Asset Management Ltd. | State-owned corporation | 1.26 | 88,260,460 | |||||||
| Huang Jian | Domestic individual | 1.23 | 86,140,000 | |||||||
| Canada Pension Plan Investment Board－ own funds (stock exchange) | Foreign corporation | 1.00 | 70,126,251 | |||||||
| Li Jianwei | Foreign individual | 0.68 | 47,852,845 | |||||||
| Yuan Liqun | Domestic individual | 0.56 | 39,320,997 | |||||||
| Huang Xiaoxiang | Domestic individual | 0.54 | 37,835,332 | Pledged | 17,348,318 | |||||
| Top 10 non-restricted shareholders | ||||||||||
| Name of shareholder | Number of non-restricted shares held at the period-end | Type of shares | ||||||||
| Type | Shares | |||||||||
| Midea Holding Co., Ltd. | 2,169,178,713 | RMB common stock | 2,169,178,713 | |||||||
| Hong Kong Securities Clearing Company Limited | 1,182,613,943 | RMB common stock | 1,182,613,943 | |||||||
| China Securities Finance Co., Ltd. | 198,145,134 | RMB common stock | 198,145,134 | |||||||
| Central Huijin Asset Management Ltd. | 88,260,460 | RMB common stock | 88,260,460 | |||||||
| Huang Jian | 86,140,000 | RMB common stock | 86,140,000 | |||||||
| Canada Pension Plan Investment Board－ own funds (stock exchange) | 70,126,251 | RMB common stock | 70,126,251 | |||||||
| Li Jianwei | 47,852,845 | RMB common stock | 47,852,845 | |||||||
| Yuan Liqun | 39,320,997 | RMB common stock | 39,320,997 | |||||||
| Huang Xiaoxiang | 37,835,332 | RMB common stock | 37,835,332 | |||||||
| Merrill Lynch International | 35,362,310 | RMB common stock | 35,362,310 | |||||||
| Explanation of related relationship or/and acting-in-concert parties among the above-mentioned shareholders | N/A | |||||||||
| Special account for repurchased shares among the top 10 shareholders | 126,983,003 common shares (or 1.81% of the Company’s total share capital) were held in the special account for repurchased shares of Midea Group Co., Ltd. at the end of the Reporting Period. |
| Explanation on the top 10 common shareholders participating in securities margin trading | The Company’s shareholder Yuan Liqun holds 680,000 shares in the Company through her common securities account and 38,640,997 shares in the Company through her account of collateral securities for margin trading, representing a total holding of 39,320,997 shares in the Company. The Company’s shareholder Huang Xiaoxiang holds 27,257,332 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 37,835,332 shares in the Company. |
2.2 Total number of preference shareholders and shareholdings of the top 10 preferenceshareholders 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 31 March 2022 Unit: RMB’000 | ||||||
| ASSETS | 31 March 2022 | 31 December 2021 | 31 March 2022 | 31 December 2021 | ||
| Consolidated | Consolidated | Company | Company | |||
| Current assets: | ||||||
| Cash at bank and on hand | 69,846,860 | 71,875,556 | 42,594,726 | 48,153,997 | ||
| Financial assets held for trading | 5,759,640 | 5,879,202 | 3,386,356 | 3,442,317 | ||
| Derivative financial assets | 697,915 | 545,865 | 229,328 | 157,501 | ||
| Notes receivable | 4,881,564 | 4,784,914 | - | - | ||
| Accounts receivable | 29,667,624 | 24,636,440 | - | - | ||
| Receivables financing | 10,734,607 | 10,273,552 | - | - | ||
| Advances to suppliers | 4,676,190 | 4,352,807 | 224,001 | 106,838 | ||
| Contract assets | 4,258,097 | 3,823,476 | - | - | ||
| Loans and advances | 20,116,922 | 20,656,600 | - | - | ||
| Other receivables | 2,823,263 | 3,104,065 | 30,038,666 | 31,447,849 | ||
| Inventories | 41,761,065 | 45,924,439 | - | - | ||
| Current portion of non-current assets | 21,571,870 | 19,851,577 | 20,822,606 | 19,095,262 | ||
| Other current assets | 46,465,237 | 33,156,012 | 24,720,153 | 11,713,182 | ||
| Total current assets | 263,260,854 | 248,864,505 | 122,015,836 | 114,116,946 | ||
| Non-current assets: | ||||||
| Other debt investments | 8,643,633 | 7,893,935 | 6,768,201 | 6,034,563 | ||
| Long-term receivables | 841,098 | 871,356 | - | - | ||
| Loans and advances | 871,011 | 851,927 | - | - | ||
| Long-term equity investments | 3,739,027 | 3,796,705 | 69,205,856 | 66,805,691 | ||
| Investments in other equity instruments | 43,536 | 45,747 | - | - | ||
| Other non-current financial assets | 7,050,279 | 5,912,873 | 471,007 | 537,214 | ||
| Investment properties | 838,482 | 859,195 | 418,091 | 428,460 | ||
| Fixed assets | 22,909,694 | 22,852,848 | 646,786 | 661,692 | ||
| Construction in progress | 3,233,882 | 2,690,930 | 918,984 | 800,243 | ||
| Right-of-use assets | 2,322,651 | 2,297,354 | 646 | 2,585 | ||
| Intangible assets | 16,846,723 | 17,173,072 | 665,199 | 669,158 | ||
| Goodwill | 27,370,595 | 27,874,752 | - | - | ||
| Long-term prepaid expenses | 1,409,424 | 1,394,240 | 86,332 | 79,799 | ||
| Deferred tax assets | 8,871,002 | 8,192,309 | 250,606 | 289,964 | ||
| Other non-current assets | 39,590,496 | 36,374,356 | 35,769,753 | 33,023,304 | ||
| Total non-current assets | 144,581,533 | 139,081,599 | 115,201,461 | 109,332,673 | ||
| TOTAL ASSETS | 407,842,387 | 387,946,104 | 237,217,297 | 223,449,619 | ||
| Consolidated and Company Balance Sheets (Cont’d) | ||||||
| Prepared by Midea Group Co. Ltd. As at 31 March 2022 Unit: RMB’000 | ||||||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | 31 March 2022 | 31 December 2021 | 31 March 2022 | 31 December 2021 | ||
| Consolidated | Consolidated | Company | Company | |||
| Current liabilities: | ||||||
| Short-term borrowings | 13,388,929 | 5,381,623 | - | - | ||
| Loans with the Central Bank | 308,403 | 178,878 | - | - | ||
| Customer deposits and deposits from banks and other financial institutions | 88,231 | 78,180 | - | - | ||
| Financial liabilities held for trading | 1,565,346 | - | - | - | ||
| Derivative financial liabilities | 252,234 | 157,602 | - | - | ||
| Notes payable | 31,334,031 | 32,752,007 | - | - | ||
| Accounts payable | 64,861,539 | 65,983,559 | - | - | ||
| Contract liabilities | 26,513,521 | 23,916,595 | - | - | ||
| Employee benefits payable | 4,551,048 | 7,535,168 | 450,714 | 420,536 | ||
| Taxes payable | 4,510,543 | 5,404,267 | 658,013 | 1,184,813 | ||
| Other payables | 4,708,922 | 4,288,104 | 164,814,558 | 151,450,555 | ||
| Current portion of non-current liabilities | 26,999,131 | 28,947,540 | 90,666 | 92,647 | ||
| Other current liabilities | 53,360,594 | 48,227,953 | 12,804 | 35,932 | ||
| Total current liabilities | 232,442,472 | 222,851,476 | 166,026,755 | 153,184,483 | ||
| Non-current liabilities: | ||||||
| Long-term borrowings | 19,531,218 | 19,734,020 | 12,509,900 | 12,509,900 | ||
| Lease liabilities | 1,580,313 | 1,533,552 | - | - | ||
| Bonds payable | 2,853,438 | - | - | - | ||
| Provisions | 311,704 | 310,571 | - | - | ||
| Deferred income | 1,197,587 | 1,228,459 | 154,015 | 154,015 | ||
| Long-term employee benefits payable | 1,539,671 | 1,825,016 | - | - | ||
| Deferred tax liabilities | 4,835,799 | 4,950,245 | 12,145 | 17,028 | ||
| Other non-current liabilities | 687,595 | 687,689 | - | - | ||
| Total non-current liabilities | 32,537,325 | 30,269,552 | 12,676,060 | 12,680,943 | ||
| Total liabilities | 264,979,797 | 253,121,028 | 178,702,815 | 165,865,426 | ||
| Shareholders’ equity: | ||||||
| Share capital | 6,999,815 | 6,986,564 | 6,999,815 | 6,986,564 | ||
| Capital surplus | 21,122,274 | 20,516,930 | 28,187,196 | 27,105,153 | ||
| Less: Treasury stock | (14,624,578) | (14,044,550) | (14,624,578) | (14,044,550) | ||
| Other comprehensive income | (1,542,699) | (1,758,948) | (9,876) | (7,295) | ||
| General risk reserve | 700,351 | 719,922 | - | - | ||
| Special reserve | 16,370 | 15,542 | - | - | ||
| Surplus reserve | 9,449,901 | 9,449,901 | 9,449,901 | 9,449,901 | ||
| Undistributed profits | 110,180,320 | 102,982,763 | 28,512,024 | 28,094,420 | ||
| Total equity attributable to shareholders of the Company | 132,301,754 | 124,868,124 | 58,514,482 | 57,584,193 | ||
| Minority interests | 10,560,836 | 9,956,952 | - | - | ||
| Total shareholders’ equity | 142,862,590 | 134,825,076 | 58,514,482 | 57,584,193 | ||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 407,842,387 | 387,946,104 | 237,217,297 | 223,449,619 | ||
| Legal representative: Principal in charge of accounting: Head of accounting department: Fang Hongbo Zhong Zheng Chen Lihong | ||||||
4.1.2 Consolidated and Company income statements
| Consolidated and Company Income Statements | ||||
| Prepared by Midea Group Co., Ltd. For the three months ended 31 March 2022 Unit: RMB’000 | ||||
| Item | ||||
| For the three months ended 31 March 2022 | For the three months ended 31 March 2021 | For the three months ended 31 March 2022 | For the three months ended 31 March 2021 | |
| Consolidated | Consolidated | Company | Company | |
| Total revenue | 90,938,820 | 83,017,120 | 436,315 | 442,664 |
| Including: Operating revenue | 90,381,167 | 82,504,017 | 436,315 | 442,664 |
| Interest income | 557,424 | 513,036 | - | - |
| Fee and commission income | 229 | 67 | - | - |
| Total operating cost | (82,511,495) | (75,354,650) | 55,260 | 257,173 |
| Including: Cost of sales | (70,336,385) | (64,720,868) | (10,369) | (11,610) |
| Interest costs | (33,226) | (15,059) | - | - |
| Fee and commission expenses | (1,520) | (1,776) | - | - |
| Taxes and surcharges | (388,006) | (390,356) | (10,612) | (18,648) |
| Selling and distribution expenses | (7,599,881) | (6,262,170) | - | - |
| General and administrative expenses | (2,380,911) | (2,404,839) | (407,140) | (233,265) |
| Research and development expenses | (2,926,616) | (2,519,694) | - | - |
| Financial income | 1,155,050 | 960,112 | 483,381 | 520,696 |
| Including: Interest expenses | (417,184) | (317,428) | (596,719) | (504,197) |
| Interest income | 1,308,788 | 1,158,995 | 1,082,164 | 1,024,813 |
| Add: Other income | 373,682 | 345,651 | - | 152,367 |
| Investment income | 261,189 | 531,167 | 54,893 | 254,440 |
| Including: Investment income from associates and joint ventures | 103,807 | 136,353 | 59,564 | 70,473 |
| Gains/(Losses) on changes in fair value | (416,409) | (830,632) | (49,401) | (249,001) |
| Credit impairment losses | (219,124) | (180,953) | -1,178.00 | -664.00 |
| Asset impairment losses | (117,425) | (115,967) | 0 | 0 |
| Gains on disposal of assets | 6,945 | 1,400 | (268) | (964) |
| Operating profit | 8,316,183 | 7,413,136 | 495,621 | 856,015 |
| Add: Non-operating income | 65,080 | 72,204 | 5,218 | 448 |
| Less: Non-operating expenses | (18,499) | (25,720) | (295) | - |
| Total profit | 8,362,764 | 7,459,620 | 500,544 | 856,463 |
| Less: Income tax expenses | (1,134,183) | (890,183) | (82,940) | (25,533) |
| Net profit | 7,228,581 | 6,569,437 | 417,604 | 830,930 |
| (1) Classified by continuity of operations | ||||
| Net profit from continuing operations | 7,228,581 | 6,569,437 | 417,604 | 830,930 |
| Net profit from discontinued operations | - | - | - | - |
| (2) Classified by ownership of the equity | ||||
| Attributable to shareholders of the Company | 7,177,925 | 6,468,588 | 417,604 | 830,930 |
| Minority interests | 50,656 | 100,849 | - | - | |||||
| Other comprehensive income, net of tax | 184,270 | (42,607) | (2,581) | 11,480 | |||||
| Other comprehensive income attributable to equity owners of the Company, net of tax | 216,310 | (25,743) | (2,581) | 11,480 | |||||
| (1) Other comprehensive income items which will not be reclassified subsequently to profit or loss | 128,387 | 94,651 | - | - | |||||
| 1) Changes arising from remeasurement of defined benefit plan | 127,142 | 94,607 | - | - | |||||
| 2) Changes in fair value of investments in other equity instruments | 1,245 | 44 | - | - | |||||
| (2) Other comprehensive income items which will be reclassified subsequently to profit or loss | 87,923 | (120,394) | (2,581) | 11,480 | |||||
| 1) Other comprehensive income that will be transferred subsequently to profit or loss under the equity method | (4,176) | 12,308 | (2,581) | 11,480 | |||||
| 2) Cash flow hedging reserve | 117,901 | (197,769) | - | - | |||||
| 3) Differences on translation of foreign currency financial statements | (25,802) | 65,067 | - | - | |||||
| Other comprehensive income attributable to minority shareholders, net of tax | (32,040) | (16,864) | - | - | |||||
| Total comprehensive income | 7,412,851 | 6,526,830 | 415,023 | 842,410 | |||||
| Attributable to equity owners of the Company | 7,394,235 | 6,442,845 | 415,023 | 842,410 | |||||
| Attributable to minority interests | 18,616 | 83,985 | - | - | |||||
| Earnings per share: | |||||||||
| (1) Basic earnings per share (RMB Yuan) | 1.06 | 0.93 | Not applicable | Not applicable | |||||
| (2) Diluted earnings per share (RMB Yuan) | 1.05 | 0.92 | Not applicable | Not applicable | |||||
| Legal representative: Principal in charge of accounting: Head of accounting department: Fang Hongbo Zhong Zheng Chen Lihong | |||||||||
4.1.3 Consolidated and Company cash flow statements
| Consolidated and Company Cash Flow Statements | |||||||
| Prepared by Midea Group Co., Ltd. For the three months ended 31 March 2022 Unit: RMB’000 | |||||||
| Item | For the three months ended 31 March 2022 | For the three months ended 31 March 2021 | For the three months ended 31 March 2022 | For the three months ended 31 March 2021 | |||
| Consolidated | Consolidated | Company | Company | ||||
| 1. Cash flows from operating activities | |||||||
| Cash received from sales of goods or rendering of services | 77,541,698 | 70,624,192 | - | - | |||
| Net increase in customer deposits and deposits from banks and other financial institutions | 10,051 | 11,250 | - | - | |||
| Net decrease in loans and advances | 527,693 | - | - | - | |||
| Net decrease in deposits with the Central Bank, banks and other financial institutions | - | 823,134 | - | - | |||
| Net increase in loans with the Central Bank | 129,526 | - | - | - | |||
| Cash received from interest, fee and commission | 474,350 | 449,113 | - | - | |||
| Refund of taxes and surcharges | 2,324,371 | 2,185,291 | - | - | |||
| Cash received relating to other operating activities | 1,305,290 | 1,612,552 | 15,290,251 | 23,394,410 | |||
| Sub-total of cash inflows | 82,312,979 | 75,705,532 | 15,290,251 | 23,394,410 | |||
| Cash paid for goods and services | (51,917,522) | (43,141,773) | - | - | |||
| Net increase in loans and advances | - | (3,182,455) | - | - | |||
| Net increase in balances with the Central Bank | (17,361) | - | - | - | |||
| Cash paid for interest, fee and commission | (35,019) | (17,033) | - | - | |||
| Cash paid to and on behalf of employees | (10,851,471) | (10,119,594) | (143,499) | (5,245) | |||
| Payments of taxes and surcharges | (3,966,746) | (3,252,112) | (156,665) | (14,624) | |||
| Cash paid relating to other operating activities | (7,545,874) | (7,438,704) | (730,277) | (7,745,089) | |||
| Sub-total of cash outflows | (74,333,993) | (67,151,671) | (1,030,441) | (7,764,958) | |||
| Net cash flows from operating activities | 7,978,986 | 8,553,861 | 14,259,810 | 15,629,452 | |||
| 2. Cash flows from investing activities | |||||||
| Cash received from disposal of investments | 20,762,454 | 27,124,590 | 14,200,000 | 17,800,000 | |||
| Cash received from returns on investments | 1,537,811 | 942,913 | 1,093,468 | 987,658 | |||
| Net cash received from disposal of fixed assets, intangible assets and other long-term assets | 28,857 | 16,233 | 23 | 255 | |||
| Net cash received from disposal of subsidiaries and other business units | 9,349 | 2,479 | - | - | |||
| Cash received relating to other investing activities | 335,082 | - | - | - | |||
| Sub-total of cash inflows | 22,673,553 | 28,086,215 | 15,293,491 | 18,787,913 | |||
| Cash paid to acquire fixed assets, intangible assets and other long-term assets | (1,555,626) | (2,145,202) | (170,899) | (78,204) | |||
| Cash paid to acquire investments | (32,615,005) | (26,718,699) | (24,155,045) | (25,870,441) | |||
| Net cash paid to acquire subsidiaries and other business units | (39,180) | (146,982) | - | - | |||
| Cash paid relating to other investing activities | - | (7,391) | - | - | |||
| Sub-total of cash outflows | (34,209,811) | (29,018,274) | (24,325,944) | (25,948,645) | |||
| Net cash flows from investing activities | (11,536,258) | (932,059) | (9,032,453) | (7,160,732) | |||
| 3. Cash flows from financing activities | |||||||
| Cash received from capital contributions | 556,188 | 358,749 | 555,188 | 358,749 | |||
| Including: Cash received from capital contributions by minority shareholders of subsidiaries | 1,000 | - | - | - | |||
| Cash received from borrowings | 7,529,546 | 9,152,583 | - | 6,200,000 | |||
| Cash received from issuance of bonds | 2,841,690 | - | - | - | |||
| Cash received from issuance of short-term financing bonds | - | 2,999,629 | - | 2,999,629 | |||
| Cash received relating to other financing activities | 3,200 | 16,742 | - | - | |||
| Sub-total of cash inflows | 10,930,624 | 12,527,703 | 555,188 | 9,558,378 |
| Cash repayments of borrowings | (954,060) | (5,081,076) | - | (4,308,744) |
| Cash paid for repayment of short-term financing bonds | - | (3,000,000) | - | (3,000,000) |
| Cash payments for interest expenses and distribution of dividends or profits | (446,421) | (426,488) | (639,276) | (461,849) |
| Including: Cash payments for dividends or profit to minority shareholders of subsidiaries | (21,038) | (81,772) | - | - |
| Cash payments relating to other financing activities | (942,998) | (7,558,103) | (649,449) | (7,394,100) |
| Sub-total of cash outflows | (2,343,479) | (16,065,667) | (1,288,725) | (15,164,693) |
| Net cash flows from financing activities | 8,587,145 | (3,537,964) | (733,537) | (5,606,315) |
| 4. Effect of foreign exchange rate changes on cash and cash equivalents | (24,799) | (50,198) | - | - |
| 5. Net increase in cash and cash equivalents | 5,005,074 | 4,033,640 | 4,493,820 | 2,862,405 |
| Add: Cash and cash equivalents at the beginning of the period | 40,550,039 | 23,548,509 | 21,957,042 | 16,595,063 |
| 6. Cash and cash equivalents at the end of the period | 45,555,113 | 27,582,149 | 26,450,862 | 19,457,468 |
| Legal representative: Principal in charge of accounting: Head of accounting department: Fang Hongbo Zhong Zheng Chen Lihong | ||||
4.2 Auditor’s report
Is this Report audited by a CPA firm?
□ Yes √ No
This Report is not audited by a CPA firm.
The Board of Directors of Midea Group Co., Ltd.
30 April 2022