[一季报]美的集团(000333):2024年一季度报告（英文版）
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时间：2024年04月30日 20:16:06 中财网 |
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原标题:美的集团:2024年一季度报告（英文版）
Stock code: 000333 Stock name: Midea Group Announcement No.: 2024-028
Midea Group Co., Ltd.
Interim Report for the First Quarter 2024
Midea Group Co., Ltd. (hereinafter referred to as the “Company”) and all the members of the
Company’s 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 CPA 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
| | Jan.-Mar. 2024 | Jan.-Mar. 2023 | YoY Change (%) | | Operating revenue (RMB'000) | 106,101,612 | 96,262,922 | 10.22% | | Net profit attributable to shareholders of the
Company (RMB'000) | 9,000,007 | 8,041,853 | 11.91% | | Net profit attributable to shareholders of the
Company before non-recurring gains and
losses (RMB'000) | 9,236,971 | 7,672,681 | 20.39% | | Net cash flows from operating activities
(RMB'000) | 13,928,908 | 9,272,312 | 50.22% | | Basic earnings per share (RMB/share) | 1.31 | 1.18 | 11.02% | | Diluted earnings per share (RMB/share) | 1.31 | 1.18 | 11.02% | | Weighted average ROE (%) | 5.37% | 5.46% | -0.09% | | | 31 Mar. 2024 | 31 Dec. 2023 | Change (%) | | Total assets (RMB'000) | 497,968,468 | 486,038,184 | 2.45% | | Net assets attributable to shareholders of
the Company (RMB'000) | 172,498,707 | 162,878,825 | 5.91% |
During the Reporting Period, the Company’s Intelligent Building Technology, Energy Solutions & Industrial Technology, and Robotics & Automation recorded respective revenue of RMB8.2 billion (up 6% year on year), RMB7.7 billion (up 23% year on year), and RMB6.7 billion (down 12% year on year).
Intelligent Building Technology reported a slowdown in revenue growth during the Reporting Period mainly due to changes in subsidy policies for heat pumps in some countries and the decline in natural
gas prices in Europe. Exclusive of heat pumps, the other product categories of Intelligent Building
Technology combined saw a year-on-year growth of 28% in revenue. Robotics & Automation reported a year-on-year decline in revenue during the Reporting Period mainly
due to the temporary suspension of production ramp-up plans by domestic automakers and the product strategy adjustments by overseas automakers; at the same time, the logistics automation business was driven by strong offline consumption overseas, achieving over 9% growth in the Reporting Period.
| Total share capital of the Company on the last trading
session before disclosure (share) | 6,974,420,601 | | Fully diluted earnings per share based on the latest share
capital above (RMB/share) | 1.29 |
1.2 Non-recurring gains and losses
√ Applicable □ N/A
Unit: RMB’000
| Item | Jan.-Mar. 2024 | Note | | Gains and losses on disposal of non-current assets | 7,249 | | | 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 | -381,518 | | | Other | 233,456 | | | | | | | Less: Corporate income tax | 26,172 | | | Minority interests (after tax) | 69,979 | | | Total | -236,964 | -- |
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
Unit: RMB’000
| Financial statement items
(consolidated) | 31 March
2024/January-
March 2024 | 31 December
2023/January-
March 2023 | Change
(%) | Reasons for the changes | | Derivative financial assets | 1,759,324 | 1,278,161 | 37.64% | Mainly due to the changes in the fair
value of derivative financial instruments | | Receivables financing | 19,019,180 | 13,330,008 | 42.68% | Mainly due to the increased notes
receivable at fair value through other
comprehensive income | | Current portion of non-current | 7,211,636 | 10,760,577 | -32.98% | Mainly due to the decreased current | | assets | | | | portion of financial product investments
with fixed income | | Derivative financial liabilities | 680,097 | 257,668 | 163.94% | Mainly due to the changes in the fair
value of derivative financial instruments | | Employee benefits payable | 5,559,443 | 9,076,027 | -38.75% | Mainly due to the payment of
remunerations to employees | | Current portion of non-current
liabilities | 8,230,153 | 14,457,710 | -43.07% | Mainly due to the repayment of the
current portion of borrowings | | Treasury stock | 7,651,734 | 12,871,738 | -40.55% | Mainly due to the retirement of treasury
stock | | Other comprehensive income | -617,669 | -164,202 | -276.16% | Mainly due to the changes in
differences on translation of foreign
currency financial statements | | Financial expenses/(income) | -557,258 | 710,597 | -178.42% | Fluctuations in the valuation of assets
and liabilities denominated in minor
currencies, such as the Egyptian
pound, and other foreign currencies,
such as the United States dollar, the
euro and the Japanese yen | | Other income | 643,446 | 339,952 | 89.28% | Mainly due to the increased input tax
credits | | Investment income | 27,984 | 266,267 | -89.49% | Mainly due to the decreased investment
income from the disposal of derivative
financial assets and liabilities | | Losses/(gains) on changes in
fair value | -280,110 | 117,441 | -338.51% | Mainly due to the changes in the fair
value of investments in equity
instruments | | Asset impairment losses | -176,207 | -135,237 | -30.29% | Mainly due to the increased inventory
valuation losses | | Losses/(gains) on disposal of
assets | -3,777 | 11,215 | -133.68% | Mainly due to the decreased gains on
disposal of non-current assets | | Non-operating income | 115,251 | 35,234 | 227.10% | Mainly due to the increased other
income | | Non-operating expenses | -25,427 | -7,491 | -239.43% | Mainly due to the increased other
expenses | | Net profit attributable to minority
interests | 36,314 | 103,879 | -65.04% | Mainly due to the decreased profits of
non-wholly-owned subsidiaries | | Net cash flows from operating
activities | 13,928,908 | 9,272,312 | 50.22% | Mainly due to the increased cash
received from sales of goods or
rendering of services | | Net cash flows from investing
activities | -5,954,871 | -25,100,790 | 76.28% | Mainly due to the increased cash
received from disposal of investments
and the decreased cash paid to acquire
investments | | Net cash flows from financing
activities | -5,090,826 | 9,068,738 | -156.14% | Mainly due to the decreased cash
received from borrowings and the
increased cash repayments of
borrowings |
2. Shareholder information
2.1 Total number of common 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 common shareholders at
the period-end | 286,772 | Total number of preference
shareholders with resumed | 0 |
| | | voting rights at the period-
end (if any) | | | | | | Top 10 shareholders (exclusive of shares lent in refinancing) | | | | | | | | Name of shareholder | Nature of
shareholder | Shareholding
percentage
(%) | Number of
shares held | Number of
restricted
shares held | Shares in pledge or
frozen | | | | | | | | Status | Shares | | Midea Holding Co., Ltd. | Domestic
non-state-
owned
corporation | 31.12 | 2,169,178,713 | | | | | Hong Kong Securities Clearing
Company Limited | Foreign
corporation | 20.36 | 1,419,137,016 | | | | | 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 | | | | Central Huijin Asset Management
Ltd. | State-owned
corporation | 1.27 | 88,260,460 | | | | | Huang Jian | Domestic
individual | 1.24 | 86,140,000 | | | | | Industrial and Commercial Bank of
China Limited－Huatai-PineBridge
CSI 300 Traded Open-ended Index
Securities Investment Fund | Other | 0.76 | 53,109,693 | | | | | Li Jianwei | Foreign
individual | 0.65 | 45,591,545 | | | | | China Construction Bank
Corporation－E Fund CSI 300
Traded Open-ended Index
Promoter Securities Investment
Fund | Other | 0.53 | 37,076,546 | | | | | Yuan Liqun | Domestic
individual | 0.51 | 35,414,050 | | | | | 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 | 1,419,137,016 | RMB common
stock | 1,419,137,016 | | | | | 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 | | | | | Industrial and Commercial Bank of China Limited
－Huatai-PineBridge CSI 300 Traded Open-ended
Index Securities Investment Fund | 53,109,693 | RMB common
stock | 53,109,693 | | | | | Li Jianwei | 45,591,545 | RMB common
stock | 45,591,545 | | | | | China Construction Bank Corporation－E Fund
CSI 300 Traded Open-ended Index Promoter
Securities Investment Fund | 37,076,546 | RMB common
stock | 37,076,546 | | | | | Yuan Liqun | 35,414,050 | RMB common
stock | 35,414,050 | | | | | Huang Xiaoxiang | 34,005,286 | RMB common
stock | 34,005,286 | | | | | Related-parties or acting-in-concert parties among
the shareholders above | N/A | | | | | |
| Special account for repurchased shares among
the top 10 shareholders | 48,558,888 shares (or 0.70% 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 5,912,100 shares in
the Company through her common securities account and
29,501,950 shares in the Company through her account of collateral
securities for margin trading, representing a total holding of
35,414,050 shares in the Company.
The Company’s shareholder Huang Xiaoxiang holds 24,805,286
shares in the Company through his common securities account and
9,200,000 shares in the Company through his account of collateral
securities for margin trading, representing a total holding of
34,005,286 shares in the Company. |
5% or greater shareholders, top 10 shareholders, and top 10 non-restricted public shareholders involved in refinancing shares lending
√ Applicable □ N/A
Unit: share
| Top 10 shareholders, and top 10 non-restricted public shareholders involved in refinancing shares lending | | | | | | | | | | Full name of
shareholder | Shares in the common
account and credit
account at the period-
begin | | Shares lent in
refinancing and not yet
returned at the period-
begin | | Shares in the common
account and credit
account at the period-
end | | Shares lent in
refinancing and not yet
returned at the period-
end | | | | Total
shares
held | As % of
the
Company’
s total
share
capital | Total
shares
held | As % of
the
Company’
s total
share
capital | Total
shares
held | As % of
the
Company’
s total
share
capital | Total
shares
held | As % of
the
Company’
s total
share
capital | | Industrial and
Commercial
Bank of
China
Limited－
Huatai-
PineBridge
CSI 300
Traded
Open-ended
Index
Securities
Investment
Fund | 36,737,633 | 0.53% | 10,100 | 0.00% | 53,109,693 | 0.76% | - | 0.00% | | China
Construction
Bank
Corporation
－E Fund
CSI 300
Traded
Open-ended
Index
Promoter
Securities
Investment
Fund | 13,740,646 | 0.20% | 68,000 | 0.00% | 37,076,546 | 0.53% | 216,300 | 0.00% |
Changes in the top 10 shareholders and the top 10 non-restricted public shareholders due to lending/returning shares in refinancing compared with the prior period □ Applicable √ N/A
2.2 Total number of preference shareholders and shareholdings of the top 10 preference shareholders at the period-end
□ Applicable √ N/A
3. Other significant events
□ Applicable √ N/A
4. Financial statements
4.1 Financial statements
Consolidated and Company Balance Sheets
Prepared by Midea Group Co. Ltd. As at 31 March 2024 Unit: RMB’000
| ASSETS | 31 March
2024 | 31 December
2023 | 31 March
2024 | 31 December
2023 | | | Consolidated | Consolidated | Company | Company | | Current assets: | | | | | | Cash at bank and on hand | 95,952,306 | 81,673,846 | 34,754,572 | 30,260,602 | | Financial assets held for trading | 1,979,857 | 1,790,588 | 269,518 | 299,001 | | Derivative financial assets | 1,759,324 | 1,278,161 | - | - | | Notes receivable | 4,057,066 | 5,521,960 | - | - | | Accounts receivable | 39,977,677 | 32,884,739 | - | - | | Receivables financing | 19,019,180 | 13,330,008 | - | - | | Advances to suppliers | 3,807,586 | 3,316,194 | 48,391 | 81,244 | | Contract assets | 3,885,838 | 4,045,925 | - | - | | Loans and advances | 15,418,859 | 14,296,958 | - | - | | Other receivables | 1,760,697 | 2,181,878 | 22,367,722 | 19,614,359 | | Inventories | 41,203,729 | 47,339,255 | - | - | | Current portion of non-current assets | 7,211,636 | 10,760,577 | 5,802,294 | 9,363,826 | | Other current assets | 55,625,631 | 62,900,891 | 35,531,289 | 43,712,760 | | Total current assets | 291,659,386 | 281,320,980 | 98,773,786 | 103,331,792 | | Non-current assets: | | | | | | Other debt investments | 6,233,578 | 6,319,047 | 3,223,289 | 3,334,059 | | Long-term receivables | 235,538 | 250,519 | - | - | | Loans and advances | 908,904 | 975,272 | - | - | | Long-term equity investments | 4,951,568 | 4,976,109 | 75,473,696 | 75,957,844 | | Investments in other equity instruments | 37,820 | 37,874 | - | - | | Other non-current financial assets | 7,851,142 | 7,769,938 | 264,099 | 285,170 | | Investment properties | 1,269,879 | 1,293,629 | 383,780 | 393,988 | | Fixed assets | 30,550,827 | 30,937,963 | 1,316,105 | 1,300,998 | | Construction in progress | 5,302,760 | 4,681,220 | 827,829 | 749,934 | | Right-of-use assets | 2,874,129 | 3,048,785 | 421 | 1,683 | | Intangible assets | 17,873,109 | 18,457,736 | 619,542 | 583,714 | | Goodwill | 30,160,121 | 30,858,237 | - | - | | Long-term prepaid expenses | 1,749,818 | 1,736,199 | 69,995 | 72,745 | | Deferred tax assets | 13,578,003 | 12,771,150 | 291,698 | 289,426 | | Other non-current assets | 82,731,886 | 80,603,526 | 73,305,290 | 71,132,070 | | Total non-current assets | 206,309,082 | 204,717,204 | 155,775,744 | 154,101,631 | | TOTAL ASSETS | 497,968,468 | 486,038,184 | 254,549,530 | 257,433,423 |
Consolidated and Company Balance Sheets (Cont’d)
Prepared by Midea Group Co. Ltd. As at 31 March 2024 Unit: RMB’000
| LIABILITIES AND SHAREHOLDERS’ EQUITY | 31 March
2024 | 31 December
2023 | 31 March
2024 | 31 December
2023 | | | Consolidated | Consolidated | Company | Company | | Current liabilities: | | | | | | Short-term borrowings | 9,995,764 | 8,819,176 | - | 400,000 | | Customer deposits and deposits from banks and other financial
institutions | 96,718 | 88,960 | - | - | | Financial liabilities held for trading | 1,183,559 | 1,346,674 | - | - | | Derivative financial liabilities | 680,097 | 257,668 | - | - | | Notes payable | 21,892,827 | 21,707,608 | - | - | | Accounts payable | 79,091,053 | 72,530,465 | - | - | | Contract liabilities | 37,555,322 | 41,765,475 | - | - | | Employee benefits payable | 5,559,443 | 9,076,027 | 55,327 | 169,349 | | Taxes payable | 6,967,511 | 5,455,102 | 339,786 | 411,715 | | Other payables | 4,299,715 | 4,442,928 | 173,118,603 | 170,693,950 | | Current portion of non-current liabilities | 8,230,153 | 14,457,710 | 420,406 | 6,621,910 | | Other current liabilities | 78,444,281 | 71,297,928 | 102,267 | 147,552 | | Total current liabilities | 253,996,443 | 251,245,721 | 174,036,389 | 178,444,476 | | Non-current liabilities: | | | | | | Long-term borrowings | 46,026,826 | 46,138,736 | 16,600,000 | 16,600,000 | | Bonds payable | 3,200,010 | 3,217,969 | - | - | | Lease liabilities | 1,927,772 | 2,047,319 | - | - | | Provisions | 973,582 | 782,539 | - | - | | Deferred income | 1,752,408 | 1,734,932 | 203,629 | 157,917 | | Long-term employee benefits payable | 1,333,241 | 1,433,874 | - | - | | Deferred tax liabilities | 4,832,588 | 5,098,280 | - | - | | Other non-current liabilities | 58,362 | 39,165 | - | - | | Total non-current liabilities | 60,104,789 | 60,492,814 | 16,803,629 | 16,757,917 | | Total liabilities | 314,101,232 | 311,738,535 | 190,840,018 | 195,202,393 | | Shareholders’ equity: | | | | | | Share capital | 6,969,777 | 7,025,769 | 6,969,777 | 7,025,769 | | Capital surplus | 17,147,777 | 21,243,156 | 25,393,761 | 29,479,180 | | Less: Treasury stock | (7,651,734) | (12,871,738) | (7,651,734) | (12,871,738) | | Other comprehensive income | (617,669) | (164,202) | (7,945) | (6,639) | | General risk reserve | 670,310 | 642,525 | - | - | | Special reserve | 16,823 | 16,040 | - | - | | Surplus reserve | 10,702,928 | 10,702,928 | 10,702,928 | 10,702,928 | | Undistributed profits | 145,260,495 | 136,284,347 | 28,302,725 | 27,901,530 | | Total equity attributable to shareholders of the Company | 172,498,707 | 162,878,825 | 63,709,512 | 62,231,030 | | Minority interests | 11,368,529 | 11,420,824 | - | - | | Total shareholders’ equity | 183,867,236 | 174,299,649 | 63,709,512 | 62,231,030 | | TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 497,968,468 | 486,038,184 | 254,549,530 | 257,433,423 |
Legal representative: Principal in charge of accounting: Head of accounting department:
Fang Hongbo Zhong Zheng Chen Lihong
Consolidated and Company Income Statements
Prepared by Midea Group Co., Ltd. For the three months ended 31 March 2024 Unit: RMB’000
| Item | For the three
months ended 31
March 2024 | For the three
months ended 31
March 2023 | For the three
months ended 31
March 2024 | For the three
months ended 31
March 2023 | | | Consolidated | Consolidated | Company | Company | | Total revenue | 106,483,190 | 96,636,184 | 126,624 | 160,324 | | Including: Operating revenue | 106,101,612 | 96,262,922 | 126,624 | 160,324 | | Interest income | 381,460 | 373,117 | - | - | | Fee and commission income | 118 | 145 | - | - | | Total operating cost | (95,739,487) | (87,373,044) | 35,257 | 160,614 | | Including: Cost of sales | (77,114,398) | (73,120,434) | (10,304) | (10,202) | | Interest costs | (41) | (5,743) | - | - | | Fee and commission expenses | (190) | (590) | - | - | | Taxes and surcharges | (527,711) | (428,940) | (10,616) | (4,052) | | Selling and distribution expenses | (10,629,812) | (8,444,025) | - | - | | General and administrative
expenses | (3,315,089) | (2,801,492) | (408,831) | (330,901) | | Research and development
expenses | (3,594,988) | (3,282,417) | - | - | | Financial expenses/(income) | (557,258) | 710,597 | 465,008 | 505,769 | | Including: Interest expenses | (531,995) | (566,174) | (714,160) | (1,059,937) | | Interest income | 1,830,446 | 1,503,878 | 1,180,285 | 1,565,822 | | Add: Other income | 643,446 | 339,952 | 45 | 1,007 | | Investment income | 27,984 | 266,267 | 334,159 | 54,577 | | Including: Investment income from
associates and joint
ventures | 124,468 | 106,190 | 80,109 | 52,833 | | Losses/(Gains) on changes in fair
value | (280,110) | 117,441 | (49,594) | 63,598 | | Asset impairment losses | (176,207) | (135,237) | - | - | | Credit impairment losses | (301,592) | (277,955) | (852) | (1,035) | | Losses/(Gains) on disposal of
assets | (3,777) | 11,215 | - | - | | Operating profit | 10,653,447 | 9,584,823 | 445,639 | 439,085 | | Add: Non-operating income | 115,251 | 35,234 | 26,935 | 503 | | Less: Non-operating expenses | (25,427) | (7,491) | (204) | (201) | | Total profit | 10,743,271 | 9,612,566 | 472,370 | 439,387 | | Less: Income tax expenses | (1,706,950) | (1,466,834) | (75,101) | (92,964) | | Net profit | 9,036,321 | 8,145,732 | 397,269 | 346,423 | | (1) Classified by continuity of operations | | | | | | Net profit from continuing operations | 9,036,321 | 8,145,732 | 397,269 | 346,423 | | Net profit from discontinued operations | - | - | - | - | | (2) Classified by ownership of the equity | | | | | | Attributable to shareholders of the
Company | 9,000,007 | 8,041,853 | 397,269 | 346,423 | | Minority interests | 36,314 | 103,879 | - | - | | Other comprehensive income, net of tax | (553,667) | (306,041) | (1,306) | 13,474 | | Other comprehensive income attributable
to equity owners of the Company, net of
tax | (453,467) | (226,110) | (1,306) | 13,474 | | (1) Other comprehensive income items
which will not be reclassified
subsequently to profit or loss | 21,034 | (4,559) | - | - | | | 21,022 | (4,538) | - | | | 2) Changes in fair value of
investments in other equity
instruments | 12 | (21) | - | - | | (2) Other comprehensive income items
which will be reclassified
subsequently to profit or loss | (474,501) | (221,551) | (1,306) | 13,474 | | 1) Other comprehensive income that
will be transferred subsequently
to profit or loss under the equity
method | 5,999 | 20,146 | (1,306) | 13,474 | | 2) Cash flow hedging reserve | (216,731) | 228,680 | - | - | | 3) Differences on translation of
foreign currency financial
statements | (255,697) | (438,048) | - | - | | 4) Other | (8,072) | (32,329) | - | - | | Other comprehensive income attributable to
minority shareholders, net of tax | (100,200) | (79,931) | - | - | | Total comprehensive income | 8,482,654 | 7,839,691 | 395,963 | 359,897 | | Attributable to equity owners of the
Company | 8,546,540 | 7,815,743 | 395,963 | 359,897 | | Attributable to minority interests | (63,886) | 23,948 | - | - | | Earnings per share: | | | | | | (1) Basic earnings per share (RMB Yuan) | 1.31 | 1.18 | Not applicable | Not applicable | | (2) Diluted earnings per share (RMB Yuan) | 1.31 | 1.18 | Not applicable | Not applicable |
（未完）
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