老板电器：杭州老板电器股份有限公司2026年第三季度报告-英文

老板电器查看原文

摘要

1老板电器发布2026年三季报，前三季度营收62.61亿元，同比下滑14.37%；
2归母净利润8.39亿元，同比下降27.53%。
3其中Q3单季营收22.89亿元（-15.37%），净利润2.60亿元（-41.57%）。
4前三季度经营性现金流净额为-0.99亿元，同比大幅恶化113.52%，主因销售下滑及回款减少。
5资产减值损失同比增加1159%，系存货跌价及抵债房产计提增加所致。
6报告期末净资产118.76亿元，资产负债率约28.1%。

文本

Stock code: 002508 Stock name: Robam Appliances Announcement No.: 2026-058

Hangzhou Robam Appliances Co., Ltd. Q3 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

  • 1. The Board of Directors and the directors, and senior management of the Company hereby guarantee that there are no false 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.
  • 2. The head of the Company, the person in charge of the Company’s accounting and the head of the accounting body (the accountant in charge) hereby declare and warrant that the financial report contained in the Report is authentic, accurate, and complete.
  • 3. Whether the Q3 financial report has been audited？
  • □ Yes No

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 periodYoY changeFrom the beginning of the year to the end of the reporting periodYoY change
Operating Income (RMB)2,288,560,248.12-15.37%6,260,947,447.50-14.37%
Net profit attributable to shareholders of the listed company (RMB)260,424,371.47-41.57%838,659,473.37-27.53%
Net profit attributable to shareholders of the listed company after deducting nonrecurring gains/losses (RMB)239,550,267.47-42.66%741,759,158.66-30.01%
Net cash flow from operating activities (RMB)——-98,609,652.78-113.52%
Basic earnings per share (EPS) (RMB/share)0.28-40.43%0.89-27.05%
Diluted EPS (RMB/share)0.28-40.43%0.89-27.05%
Weighted average return on net assets2.22%A decrease of 1.60 perc entage points7.04%A decrease of 2.94 percentage points
End of the reporting periodEnd of last yearChange
Total assets (RMB)16,620,807,867.6017,208,063,114.15-3.41%
Owner's equity attributable to shareholders of the listed company (RMB)11,876,252,288.7311,497,455,691.083.29%

(II) Items and Amounts of Non-recurring Gains and Losses

Applicable □Not applicable

In RMB

ItemAmount for the current reporting periodAmount from the beginning of the year to the end of the reporting periodDescription
Gains and losses on disposal of non-current assets (including the written-off part of the provision for asset impairment accrued)-1,466,691.95-2,062,123.44
Government subsidies included in current gains and14,140,866.6835,067,641.89
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 impairment separately17,405,212.1587,346,447.81
Other non-operating income and expenses excluding the items listed above-4,520,642.38-3,351,060.84
Less: Affected amount of income tax4,003,985.9718,469,217.14
Affected amount of minority shareholders’ equity (after tax)680,654.531,631,373.57
Total20,874,104.0096,900,314.71--

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 listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public — Non-recurring Profits and Losses (referred to as “Announcement No.1”) are defined as recurring profits and losses

Applicable □Not applicable

ItemAmount (in RMB)Reasons
VAT exemption, reduction or refund59,520,677.35National tax policy, regular business
Refund of individual income tax handling fee1,012,715.90National tax policy, regular business
Total60,533,393.25

(III) Changes in Major Accounting Data and Financial Indicators and Their Reasons

Applicable □ Not applicable

Balance sheet itemsSeptember 30, 2026January 01, 2026Percentage of changeReason for change
Non-current assets due within one year3,743,512,085.44499,143,689.50649.99%Mainly due to the maturity of bank fixed term deposits.
Other non-current financial assets800,451,400.00-100.00%Mainly due to the redemption of matured bank wealth management products.
Construction in progress31,329,276.8246,511,377.40-32.64%Mainly due to the transfer of equipment to fixed assets upon acceptance.
Long-term deferred expenses12,187,719.493,252,717.83274.69%Mainly due to an increase in deferred expenses over periods exceeding one year.
Other non-current assets2,300,036,918.494,812,636,753.73-52.21%Mainly due to a decrease in unmatured fixed term deposits with maturities exceeding one year.
Payroll payable37,129,332.86179,852,713.89-79.36%Mainly due to the full payment of the previous year's year-end bonuses.
Non-current liabilities due within one year1,334,827.221,967,891.30-32.17%Mainly due to a decrease in lease liabilities due within one year.
Deferred income tax liabilities53,335,869.8240,433,744.0331.91%Mainly due to an increase in accrued interest on fixed term deposits.
Income statement itemsFrom the beginning of the year to the end of the reporting periodThe same period last yearPercentage of changeReason for change
Other income95,601,035.1466,048,899.9744.74%Mainly due to an increase in tax refunds on embedded software.
Investment income from associates and joint ventures860,629.81-6,943,313.88112.40%Mainly due to an increase in income from equity investments.
Loss from credit impairment38,931,101.2856,444,113.25-31.03%Mainly due to the reversal of provisions for impairment losses on receivables.
Loss from assets impairment-51,639,137.86-4,100,322.49-1159.39%Mainly due to an increase in provisions for inventory write-downs and a higher provision rate following the recovery of properties received in settlement of debts.
Gains on asset disposals-2,062,132.29-5,753,401.4964.16%Mainly due to a decrease in losses on the sale of properties received in settlement of debts.
Minority shareholders' gains and losses-8,087,659.23-12,811,597.8936.87%Mainly due to a decrease in losses incurred by subsidiaries.
Cash flow statement itemsFrom the beginning of the year to the end of the reporting periodThe same period last yearPercentage of changeReason for change
Net cash flow from operating activities-98,609,652.78729,194,650.22-113.52%Mainly due to a decline in sales and a decrease in cash collected.
Net cash flow from investment activities422,217,558.34-724,683,270.28158.26%Mainly due to an increase in proceeds from maturing fixed term deposits and wealth management products.
Net cash flow from financing activities-467,421,295.97-934,845,721.9250.00%Mainly due to differences in the timing of interim dividend distributions.

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 shareholders at the end of the reporting period45,129Total number of preferred shareholders with the voting rights recovered at the end of reporting period (if any)0
Shareholdings of the top 10 shareholders (excluding shares lent through refinancing)
Name of shareholderNature of shareholderShareholding ratioNumber of sharesNumber of shares subject to sales restrictionsPledged, marked or frozen shares
StatusQuantity
Hangzhou Robam Industrial Group Co., Ltd.Domestic nonstate-owned corporation49.89%471,510,0000Not Applicable0
China CITIC Bank CorporationOthers2.36%22,345,0470Not Applicable0
Limited – E Fund CSI 100 Value ExchangeTraded Fund
China Merchants Bank Co., Ltd. – ICBC Credit Suisse Value Select Mixed Securities Investment FundOthers1.39%13,133,6790Not Applicable0
Shen GuoyingDomestic natural person1.30%12,240,0000Not Applicable0
Hong Kong Securities Clearing Company LimitedOverseas corporation1.27%11,969,7360Not Applicable0
China Life Insurance (Group) Company – Traditional – General Insurance Products – Stock Connect (Innovative Strategy)Others0.94%8,906,2000Not Applicable0
China Pacific Life Insurance Co., Ltd. – Traditional – General Insurance ProductsOthers0.77%7,271,5000Not Applicable0
Hangzhou Jinchuang Investment Co., Ltd.Domestic nonstate-owned corporation0.70%6,640,0850Not Applicable0
Invesco Great Wall Fund – China Life Insurance Company Limited – Participating Insurance – Invesco Great Wall Fund China Life New Value Equity Portfolio Single-Asset Management Plan (ParticipatingOthers0.68%6,462,7120Not Applicable0
Insurance)
Hangzhou Yinchuang Investment Co., Ltd.Domestic nonstate-owned corporation0.67%6,318,0000Not Applicable0
Shareholdings of the top 10 shareholders not subject to sales restrictions (excluding shares lent through refinancing and executive locked shares)
Name of shareholderNumber of shares not subject to sales restrictionsType of share and number of shares
Type of shareQuantity
Hangzhou Robam Industrial Group Co., Ltd.471,510,000RMB ordinary shares471,510,000
China CITIC Bank Corporation Limited – E Fund CSI 100 Value Exchange-Traded Fund22,345,047RMB ordinary shares22,345,047
China Merchants Bank Co., Ltd. – ICBC Credit Suisse Value Select Mixed Securities Investment Fund13,133,679RMB ordinary shares13,133,679
Shen Guoying12,240,000RMB ordinary shares12,240,000
Hong Kong Securities Clearing Company Limited11,969,736RMB ordinary shares11,969,736
China Life Insurance (Group) Company – Traditional – General Insurance Products – Stock Connect (Innovative Strategy)8,906,200RMB ordinary shares8,906,200
China Pacific Life Insurance Co., Ltd. – Traditional – General Insurance Products7,271,500RMB ordinary shares7,271,500
Hangzhou Jinchuang Investment Co., Ltd.6,640,085RMB ordinary shares6,640,085
Invesco Great Wall Fund – China Life Insurance Company Limited – Participating Insurance – Invesco Great Wall Fund China Life New Value Equity Portfolio Single-Asset Management Plan (Participating Insurance)6,462,712RMB ordinary shares6,462,712
Hangzhou Yinchuang Investment Co., Ltd.6,318,000RMB ordinary shares6,318,000
Description of the associated relationship or consistent actions of the above shareholdersMr. Ren Jianhua is the actual controller of the controlling shareholder of the Company - Hangzhou Robam Industrial Group Co., Ltd., and the shareholder of the Company - Hangzhou Jinchuang Investment Co., Ltd.; and the 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 securities margin trading (if any)None

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
  • 1. Consolidated balance sheet

Prepared by: Hangzhou Robam Appliances Co., Ltd.

September 30, 2026

In RMB

ItemEnding balanceBeginning balance
Current assets:
Cash and cash equivalents1,083,515,092.951,236,257,860.53
Deposit reservation for balance
Lendings to banks and other financial institutions
Financial assets held for trading2,960,000,000.003,230,000,000.00
Derivative financial assets
Notes receivable532,066,889.66578,435,043.55
Accounts receivable1,433,122,046.831,501,774,623.23
Accounts receivable financing
Prepayments210,997,906.48186,281,708.91
Receivable premium
Reinsurance accounts receivable
Reinsurance contract reserves receivable
Other receivables69,786,891.5973,533,704.37
Inc: Interests receivable
Dividends receivable400,000.00
Redemptory monetary capital for sale
Inventory1,424,091,746.911,360,022,769.09
Including: Data resources
Contract assets
Assets held for sale
Non-current assets due within one year3,743,512,085.44499,143,689.50
Other current assets82,962,113.3588,468,071.99
Total current assets11,540,054,773.218,753,917,471.17
Non-current assets:
Loans and advances
Creditors investment
Other debt investment
Long-term account receivable
Long-term equity investment4,912,453.384,395,119.95
Investment in other equity instruments2,116,023.222,116,023.22
Other non-current financial assets800,451,400.00
Investment properties77,441,746.8381,013,670.91
Fixed assets2,107,773,577.972,173,675,186.21
Construction in process31,329,276.8246,511,377.40
Biological assets for production
Oil & gas assets
Right of use assets6,469,752.058,102,992.49
Intangible assets188,573,158.35196,406,397.41
Including: Data resources
Development expenditure
Including: Data resources
Goodwill
Long-term prepaid expenses12,187,719.493,252,717.83
Deferred income tax assets:349,912,467.79325,584,003.83
Other non-current assets2,300,036,918.494,812,636,753.73
Total non-current assets5,080,753,094.398,454,145,642.98
Total assets16,620,807,867.6017,208,063,114.15
Current liabilities:
Short-term borrowings104,610,725.5197,738,579.05
Borrowings from the central bank
Borrowings from banks and other financial institutions
Financial liabilities held for trading
Derivative financial liabilities
Notes payables805,756,397.111,102,064,932.55
Accounts payable2,247,543,844.032,655,136,329.40
Advance receipts
Contract liabilities811,066,029.37932,559,161.31
Financial assets sold for repurchase
Deposits from customers and interbank
Receivings from vicariously traded securities
Receivings from vicariously traded securities
Payroll payable37,129,332.86179,852,713.89
Taxes payable152,668,207.97121,036,736.76
Other payables281,347,708.42294,434,125.10
Inc: Interests payable
Dividends payable
Fees and commissions payable
Dividends payable for reinsurance
Liabilities held for sale
Non-current liabilities due within one year1,334,827.221,967,891.30
Other current liabilities88,452,810.89102,759,019.62
Total current liabilities4,529,909,883.385,487,549,488.98
Non-current liabilities:
Reserves for insurance contracts
Long-term loans
Bonds payable
Inc: Preferred shares
Perpetual bonds
Lease liabilities6,517,429.757,867,003.07
Long-term accounts payable
Long-term payroll payable
Estimated liabilities
Deferred income88,485,869.04100,318,829.17
Deferred income tax liabilities53,335,869.8240,433,744.03
Other non-current liabilities
Total non-current liabilities148,339,168.61148,619,576.27
Total liabilities4,678,249,051.995,636,169,065.25
Owner’s equity:
Capital stock945,022,916.00944,938,916.00
Other equity instruments
Inc: Preferred shares
Perpetual bonds
Capital reserve260,836,650.45245,855,894.16
Less: treasury share
Other comprehensive income-102,317,506.26-99,859,332.25
Special reserve
Surplus reserve474,516,412.50474,516,412.50
General risk reserves
Undistributed profits10,298,193,816.049,932,003,800.67
Total owners’ equity attributable to the parent company11,876,252,288.7311,497,455,691.08
Minority interests66,306,526.8874,438,357.82
Total owners’ equity11,942,558,815.6111,571,894,048.90
Total liabilities and owner’s equity16,620,807,867.6017,208,063,114.15

Legal representative: Ren Fujia Person in charge of accounting: Zhang Guofu Head of the accounting body: Zhang Guofu

2. Consolidated income statement from the beginning of the year to the end of the reporting period

In RMB

ItemAmount of the current periodAmount of the previous period
I. Total operating income6,260,947,447.507,311,736,717.86
Inc: Operating income6,260,947,447.507,311,736,717.86
Interest income
Earned premium
Fee and commission income
II. Total operating costs5,422,140,009.176,117,425,197.89
Inc: Operating costs3,072,027,007.403,524,381,534.45
Interest expenses
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 surcharges40,071,707.8749,065,764.34
Sales expenses1,783,965,914.442,067,729,843.68
Administrative expenses373,288,598.02338,478,868.64
R&D expenses248,948,567.86244,651,404.11
Financial expenses-96,161,786.42-106,882,217.33
Including: Interest expenses2,757,247.142,720,934.39
Interest income107,995,707.54113,301,119.29
Add: other income95,601,035.1466,048,899.97
Investment income (“-” for losses)69,042,591.5960,151,699.43
Including: Income from investment in joint ventures and affiliated enterprises860,629.81-6,943,313.88
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)38,931,101.2856,444,113.25
Losses from asset impairment (“” for losses)-51,639,137.86-4,100,322.49
Gains on disposal of assets (“-” for losses)-2,062,132.29-5,753,401.49
III. Operating profits (“-” for losses)988,680,896.191,367,102,508.64
Add: non-operating income4,418,315.464,158,613.94
Less: non-operating expenditure7,769,367.459,215,441.22
IV. Total profits (“-” for total losses)985,329,844.201,362,045,681.36
Less: income tax expenses154,758,030.06217,531,132.80
V. Net profits (“-” for losses)830,571,814.141,144,514,548.56
(I) By operational sustainability
1. Net profits from continuing operations (“-” for net losses)830,571,814.141,144,514,548.56
2. Net profits from discontinued operations (“-” for net losses)
(II) By ownership
1. Net profit attributable to shareholders of the parent company (“-” for net losses)838,659,473.371,157,326,146.45
2. Minority shareholders’ gains and losses (“-” for net losses)-8,087,659.23-12,811,597.89
VI. After-tax net amount of other comprehensive income-2,502,345.72-553,055.56
After-tax net amount of other comprehensive income attributable to the owners of parent company-2,458,174.01-523,662.45
(I) Other comprehensive income that cannot be reclassified into gains and losses
1. Changes in re-measured and defined benefit plans
2. Other comprehensive income which cannot be transferred into gains or losses under the equity method
3. Changes in fair value of the investment in other equity instruments
4. Changes in fair value of the credit risk of the Company
5. Others
(II) Other comprehensive income which will be reclassified into gains and losses-2,458,174.01-523,662.45
1. Other comprehensive income which can be transferred into gains and losses under the equity method
2. Changes in fair value of other debt investments
3. Amount of financial assets reclassified into other comprehensive income
4. Provision for credit impairment of other debt investments
5. Cashflow hedge reserve
6. Converted difference in foreign currency statements-2,458,174.01-689,212.45
7. Others
After-tax net amount of other comprehensive income attributable to minority shareholders-44,171.71-29,393.11
VII. Total comprehensive income828,069,468.421,143,961,493.00
(I) Total comprehensive income attributable to the owners of the parent company836,201,299.361,156,802,484.00
(II) Total comprehensive income attributable to minority shareholders-8,131,830.94-12,840,991.00
VIII. Earnings per share (EPS):
(I) Basic EPS0.891.22
(II) Diluted EPS0.891.22

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 Fujia Person in charge of accounting: Zhang Guofu Head of the accounting body: Zhang Guofu

3. Consolidated cash flow statement from the beginning of the year to the end of the reporting period

In RMB

ItemAmount of the current periodAmount of the previous period
I. Cash flow from operating activities:
Cash received for the sale of goods and rendering of services6,815,865,122.548,436,268,586.34
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 taxes48,806,130.2013,849,893.22
Cash received relating to other operating activities43,720,887.2668,913,611.71
Subtotal of cash inflow from operating activities6,908,392,140.008,519,032,091.27
Cash paid for purchased products and received services3,794,239,598.134,327,566,145.67
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 employees852,128,153.06834,643,059.83
Cash paid for taxes430,564,530.36598,115,079.74
Cash paid related to other operating activities1,930,069,511.232,029,513,155.81
Subtotal of cash outflow from operating activities7,007,001,792.787,789,837,441.05
Net cash flow from operating activities-98,609,652.78729,194,650.22
II. Cash flow from investment activities:
Cash received from return of investments4,315,171,726.223,068,000,000.00
Cash received from return on investments70,377,120.9468,807,723.49
Net cash received from disposal of fixed assets, intangible assets and other long-term assets3,159.84115,422.84
Net cash received from disposal of subsidiaries and other business entities
Cashes received related to other investment activities176,785,331.751,521,578,517.69
Subtotal of cash inflow from investment activities4,562,337,338.754,658,501,664.02
Cash paid for purchase and construction of fixed assets, intangible assets and other long-term assets135,575,380.41189,901,255.90
Cash paid to investments3,240,100,000.004,157,997,278.40
Net increase in pledged loans
Net cash from subsidiaries and other operating entities
Cash paid related to other investment764,444,400.001,035,286,400.00
activities
Subtotal of cash outflow from investment activities4,140,119,780.415,383,184,934.30
Net cash flow from investment activities422,217,558.34-724,683,270.28
III. Cash flow from financing activities:
Cash from acquiring investments6,156,179.60
Including: Cash received by subsidiaries from investments of minority shareholders
Cash from acquiring debts123,100,000.0097,600,000.00
Other cashes received in relation to financing activities
Subtotal of cash inflow from financing activities123,100,000.00103,756,179.60
Cash paid for repayments of debts116,223,189.6291,010,114.12
Cash paid for distribution of dividends, profits or interest expenses472,472,228.37945,452,907.26
Including: Dividends or profits paid by subsidiaries to minority shareholders
Other cashes paid in relation to financing activities1,825,877.982,138,880.14
Subtotal of cash outflow from financing activities590,521,295.971,038,601,901.52
Net cash flow from financing activities-467,421,295.97-934,845,721.92
IV. Effect of change in exchange rate on cash and cash equivalents-2,192,318.88-573,819.46
V. Net increase in cash and cash equivalents-146,005,709.29-930,908,161.44
Plus: Opening balance of cash and cash equivalents1,169,244,689.171,518,303,556.89
VI. Closing balance of cash and cash equivalents1,023,238,979.88587,395,395.45

(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

(III) Audit report

Whether the Q3 financial report has been audited？

□ Yes No The Q3 financial report of the Company has not been audited.

Board of Directors of Hangzhou Robam Appliances Co., Ltd. October 27, 2026

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