Financial Performance - The company's operating revenue for the first half of 2019 was CNY 3,392,779,476.65, representing a 14.80% increase compared to CNY 2,955,394,207.14 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was CNY 78,657,567.81, a 31.07% increase from CNY 60,012,009.52 year-on-year[18]. - The net cash flow from operating activities was CNY 480,637,945.25, a significant recovery from a negative cash flow of CNY -232,789,044.87 in the previous year[18]. - The total assets at the end of the reporting period reached CNY 6,264,935,440.88, marking a 22.48% increase from CNY 5,114,891,015.36 at the end of the previous year[18]. - The company's net assets attributable to shareholders increased by 3.16% to CNY 1,901,082,180.12 from CNY 1,842,806,824.38[18]. - Basic earnings per share for the first half of 2019 were CNY 0.0984, up 27.30% from CNY 0.0773 in the same period last year[19]. - The company achieved a revenue of 3.39 billion RMB, representing a year-on-year growth of 14.80%[29]. - The net profit attributable to shareholders was 78.66 million RMB, an increase of 31.07% compared to the previous year[29]. - The total assets of the company reached 6.26 billion RMB, with a net asset value of 2.08 billion RMB, resulting in a debt-to-asset ratio of 66.84%[29]. - The company generated a net cash flow from operating activities of 480.64 million RMB, a significant improvement from a negative cash flow in the previous period[35]. Strategic Focus - The company is focusing on the development of a multi-layered industrial structure, including household products, commercial cold chain products, and new energy appliances[23]. - The company is actively promoting the "Internet + full cold chain" strategy to expand its presence in the refrigeration industry[23]. - The marketing model for domestic sales is primarily based on "agency + direct sales," with an emphasis on enhancing overall marketing capabilities through the "Winning Business Platform"[24]. - The company is also exploring cross-border e-commerce to increase the share of its own brand in export products[24]. - The company is focusing on high-end, intelligent, and health-oriented product upgrades in response to changing consumer demands[29]. - The company is implementing an "Internet + Full Cold Chain" strategy to enhance its market competitiveness and operational efficiency[29]. - The company plans to continue strengthening performance management and cost control to improve development quality and efficiency in the second half of the year[32]. - The company is actively promoting brand integration strategies to enhance brand influence and market presence[32]. Financial Management - Research and development expenses increased by 28.33% to 63.28 million RMB, reflecting the company's commitment to innovation[35]. - Sales expenses rose by 16.32% to 397.02 million RMB, indicating increased marketing efforts[35]. - The company will not distribute profits or increase capital reserves for the first half of 2019[51]. - The company plans to conduct related transactions with Qingdao Aokema Financing Leasing Co., Ltd. for an estimated amount of 300 million yuan and with Qingdao Aokema Xincheng Commercial Factoring Co., Ltd. for 5 million yuan in 2019[56]. - The actual transaction amount with Qingdao Aokema Financing Leasing Co., Ltd. for financing leasing was 14.97 million yuan, and with Qingdao Aokema Xincheng Commercial Factoring Co., Ltd. for bill discounting was 83,500 yuan[57]. - The company emphasizes the importance of talent acquisition and management to support its ongoing development strategy[48]. - The company continues to implement the "Internet + Full Cold Chain" development strategy to enhance its innovation system and maintain R&D investment[48]. - The company faces risks related to raw material price fluctuations due to macroeconomic changes and supply shortages[3]. - The company is committed to optimizing its procurement system to mitigate the impact of raw material price volatility[48]. - The company has a strong focus on attracting high-quality talent to meet the demands of its expanding business and new projects[3]. - The company has established a solid foundation for stable and healthy development through systematic improvements in human resource management[48]. - The company will closely monitor macroeconomic and industry developments to adjust its operational strategies accordingly[3]. Asset and Liability Management - Total assets increased to ¥6,257,000,000.00, with cash and cash equivalents rising by 48.91% to ¥1,389,870,751.06, representing 22.18% of total assets[38]. - Accounts receivable increased by 84.44% to ¥1,119,452,576.05, accounting for 17.87% of total assets, indicating delayed payments from some customers[38]. - Short-term borrowings rose by 67.10% to ¥501,490,124.99, primarily due to business growth and the need for working capital[38]. - The company reported a net profit of ¥2,196.44 million from Qingdao Aokema Life Appliance Co., Ltd., with a revenue of ¥41,104.78 million[43]. - The company faced significant market risks due to increased competition and technological advancements in the home appliance industry[46]. - The company has pledged assets worth ¥28,178.24 million in buildings and ¥34,479.34 million in construction projects for bank financing[39]. - The company’s prepayments decreased by 56.54% to ¥84,197,822.82, reflecting realized sales from previously received advances[38]. - The company’s deferred tax liabilities increased by 40.04% to ¥10,634,337.99, attributed to new asset purchases benefiting from accelerated depreciation policies[38]. - The company’s investment in government bond reverse repos totaled ¥3,292,500,000.00, generating a return of ¥747,355.11[42]. - The company’s net assets for Qingdao Aokema Electric Technology Co., Ltd. were reported at -¥1,237.48 million, indicating financial challenges in that subsidiary[44]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 37,226[68]. - The largest shareholder, Qingdao Enterprise Development Investment Co., holds 308,417,225 shares, representing 38.59% of total shares, with 44,416,244 shares under lock-up[70]. - The second largest shareholder, Qingdao Urban Investment Financial Holding Group Co., holds 69,569,220 shares, accounting for 8.71% of total shares, with no shares under lock-up[70]. - The total number of shares held by the top ten shareholders is 515,000,000, which constitutes a significant portion of the company's equity[70]. - The company has a total of 44,416,244 shares under lock-up, which will become tradable starting from December 30, 2019[71]. - The company reported that the number of shares available for trading will increase by 211,200 shares annually from 2020 to 2022 for certain shareholders[71]. - The company has not experienced any changes in its controlling shareholder or actual controller during the reporting period[73]. - There were no changes in the company's board of directors or senior management during the reporting period[74]. - The company has not issued any bonds during the reporting period[75]. Compliance and Reporting - The financial report for the period ending June 30, 2019, is prepared in accordance with Chinese accounting standards[77]. - The company has not disclosed any audit reports for the current reporting period[76]. - The company has not disclosed any major related transactions or significant changes in accounting policies during the reporting period[62]. - The company has not reported any significant accounting errors that require retrospective restatement during the reporting period[64]. - The company has utilized CNY 350 million of temporarily idle raised funds to supplement working capital, all of which has been returned to the designated account on time[65]. - The company has not disclosed any new products or technologies in the reporting period[60]. Accounting Policies - The company adheres to the Chinese Accounting Standards, ensuring that the financial reports accurately reflect its financial position and performance as of June 30, 2019[119]. - The company recognizes revenue based on specific accounting policies tailored to its operational characteristics, as detailed in its financial disclosures[118]. - The company uses Renminbi (RMB) as its functional currency for accounting purposes, reflecting its primary economic environment[122]. - The company has established a normal operating cycle of 12 months for classifying assets and liabilities[121]. - The company has no subsidiaries excluded from the consolidation scope for the current year[115]. - The company’s financial reporting period follows the calendar year, from January 1 to December 31[120]. - The company’s accounting policies include specific treatments for business combinations, distinguishing between those under common control and those not[123]. - The company’s financial statements are prepared using the accrual basis of accounting, except for certain financial instruments[116]. - The company determines the scope of consolidated financial statements based on control, which includes the company and all subsidiaries[128]. - The company begins to consolidate a subsidiary from the date it gains control over the net assets and operational decisions, ceasing consolidation upon loss of control[129]. Investment and Asset Management - The company applies the equity method for long-term equity investments where it has joint control or significant influence, and uses the cost method for investments where it has control[161]. - For long-term equity investments acquired through business combinations, the initial investment cost is determined based on the book value of the equity of the merged entity at the merger date[162]. - The cost method for long-term equity investments records the initial investment cost at the actual payment made, including any related expenses and taxes[163]. - The company recognizes investment income based on the cash dividends or profits declared by the investee under the cost method[164]. - Under the equity method, the company adjusts the carrying amount of long-term equity investments based on its share of the investee's net profit or loss and other comprehensive income[165]. - If the investee incurs a net loss, the company's investment is limited to the carrying amount of the investment and any additional obligations to cover losses[166]. - The company adjusts capital reserves for the difference between the newly acquired long-term equity investment and the share of net assets from the subsidiary after purchasing minority interests[166]. - Upon disposal of long-term equity investments, the difference between the disposal proceeds and the corresponding share of net assets is recognized in equity[167]. - The company does not recognize other comprehensive income related to the investee until the investment is disposed of[167]. Environmental and Social Responsibility - The company has upgraded its VOC waste gas treatment facilities, improving treatment efficiency through a combination of photocatalytic oxidation and activated carbon[61]. - The company has established a comprehensive environmental management system and has been actively improving its environmental protection measures[61].

Financial Performance - The company's operating revenue for 2018 was RMB 5,645,158,338.66, representing a 21.09% increase compared to RMB 4,661,967,639.03 in 2017[20] - The net profit attributable to shareholders of the listed company reached RMB 69,900,873.31, a significant increase of 113.83% from RMB 32,690,185.99 in the previous year[20] - The basic earnings per share for 2018 was RMB 0.09, up 125% from RMB 0.04 in 2017[21] - The total assets of the company at the end of 2018 were RMB 5,114,891,015.36, an increase of 4.42% from RMB 4,898,172,408.56 at the end of 2017[20] - The net cash flow from operating activities for 2018 was RMB 218,340,909.38, a 160.78% increase compared to RMB 83,726,627.19 in 2017[20] - The company reported a net profit of RMB 35,455,815.97 after deducting non-recurring gains and losses, a substantial increase from RMB 770,553.11 in 2017[20] - The company reported a significant decrease in trading financial assets, with a change of -190,318,560.46 RMB during the reporting period[28] - The company achieved operating revenue of 5.645 billion RMB in 2018, representing a year-on-year growth of 21.09%[47] - The net profit attributable to shareholders was 699.01 million RMB, an increase of 113.83% compared to the previous year[47] - The total assets reached 5.115 billion RMB, with a debt-to-asset ratio of 60.60%[47] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.3 per 10 shares, totaling RMB 23,975,498.07 to shareholders[5] - The company has revised its cash dividend policy to enhance transparency and protect minority shareholders' rights, with a cash dividend of RMB 0.3 per share for 2017, totaling RMB 23,302,598.07, which is 71.28% of the net profit attributable to shareholders[96] - For 2018, the company plans to distribute a cash dividend of RMB 0.3 per share, amounting to RMB 23,975,498.07, which represents 34.30% of the net profit attributable to shareholders[98] Market and Product Development - The company focuses on the development of refrigeration technology and product manufacturing, positioning itself as a leading supplier in the domestic and global refrigeration equipment market[28] - The refrigerator market saw a retail revenue growth of 2.0% year-on-year in 2018, while the freezer market experienced an 8.4% increase in retail revenue[30] - The company has established a multi-layered industrial structure, including household products, commercial cold chain products, and new energy home appliances, to drive future growth[28] - The company aims to enhance its marketing capabilities through the "Winning Business Platform," integrating sales, logistics, service, and information systems[29] - The company is actively pursuing the transformation and upgrade of its home appliance and electric vehicle sectors, aiming to lead in smart home products and enhance user experience[28] - The company is focusing on the development of smart cold chain products to meet the increasing demand for fresh product logistics[78] Research and Development - The company has a strong technical advantage, having participated in the revision of over 20 national standards and possessing several high-level research platforms[32] - The company’s R&D expenses amounted to 112.23 million RMB, accounting for 1.99% of operating revenue[59] - The company applied for 118 patents, including 31 invention patents, and was recognized for its engineering technology research center in Shandong Province[37] - The company is investing 200 million in R&D for new technologies aimed at enhancing energy efficiency[151] - Research and development expenses were ¥112,227,179.10, slightly up from ¥109,304,787.63, indicating continued investment in innovation[196] Operational Efficiency and Management - The company established a high-efficiency performance management system, achieving full coverage of performance indicators across employees, organizations, and the enterprise, leading to continuous performance improvement[36] - The company is focusing on enhancing operational efficiency and performance management to improve development quality and profitability[80] - The company is implementing a performance management system to ensure that performance results are linked to employee compensation and promotions[80] - The company has established a performance-oriented incentive policy linking employee compensation to individual and corporate performance[160] - The company has implemented necessary internal controls to maintain the integrity of its financial reporting process[183] Risk Management - The company did not face any significant operational risks during the reporting period, ensuring stable business operations[7] - A comprehensive risk management system is being implemented to mitigate operational risks, focusing on bad debt, inventory, and key project investment risks[89] - The company faces macroeconomic risks due to increased global economic instability and domestic economic pressures, which may negatively impact the home appliance industry in 2019[90] - Rising raw material prices and logistics costs pose significant cost risks, potentially impacting the company's profitability if not managed effectively[93] Corporate Governance and Compliance - The governance structure is compliant with national laws and regulations, ensuring effective decision-making and operational transparency[164] - There were no penalties from securities regulatory agencies in the past three years, reflecting a stable compliance record[158] - The company maintains a good integrity status with no significant debts overdue or unfulfilled court judgments[107] Employee Management and Compensation - The company has maintained a stable management structure with no significant changes in shareholding or compensation during the reporting period[150] - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 5.272 million yuan[156] - The company employed a total of 6,456 staff, with 3,089 in the parent company and 3,367 in major subsidiaries[159] - The company has implemented a differentiated compensation policy, offering competitive salaries for mid-to-senior management and key technical personnel[160] - The training program is structured in layers, focusing on strategic leadership for senior management and operational skills for frontline staff[161] Strategic Partnerships and Acquisitions - The company is exploring potential acquisitions to enhance its product portfolio, with a target of 300 million in acquisition costs[151] - A new strategic partnership was announced, expected to generate an additional 100 million in revenue over the next year[151] Shareholder Structure - The largest shareholder, Qingdao Enterprise Development Investment Co., Ltd., holds 308,417,225 shares, representing 38.59% of the total shares[139] - The top ten unrestricted shareholders hold a total of 364,000,000 shares, with Qingdao Enterprise Development Investment Co., Ltd. being the largest shareholder with 264,000,981 shares[140]

Financial Performance - Operating revenue for the first quarter reached CNY 1,508,248,216.77, a 16.33% increase year-on-year[8] - Net profit attributable to shareholders rose by 21.63% to CNY 36,882,973.75 compared to the same period last year[8] - Basic and diluted earnings per share both increased by 25.00% to CNY 0.05[8] - Net profit for Q1 2019 reached ¥37,528,673.88, representing a 20.1% increase from ¥31,100,785.04 in Q1 2018[26] - The company reported a total profit of ¥68.29 million for Q1 2019, a 460.5% increase from ¥12.17 million in Q1 2018[28] Cash Flow - The net cash flow from operating activities was CNY 388,161,815.13, a significant recovery from a negative cash flow of CNY -345,788,373.42 in the previous year[8] - Cash flow from operating activities generated ¥388.16 million, a significant turnaround from a negative cash flow of ¥345.79 million in Q1 2018[31] - In Q1 2019, the net cash flow from operating activities was ¥381,798,365.26, a significant improvement from a net outflow of ¥287,237,276.53 in Q1 2018[34] - The net cash flow from financing activities increased to ¥196,313,347.21, compared to a mere ¥3,742,605.70 in the previous year[35] Assets and Liabilities - Total assets increased by 19.08% to CNY 6,090,995,462.85 compared to the end of the previous year[8] - Current assets totaled RMB 4,005,698,079.27, up from RMB 3,100,570,041.91, indicating a rise of about 29.1%[17] - Total liabilities reached RMB 4,036,425,013.99, up from RMB 3,099,645,883.38, which is an increase of approximately 30.2%[19] - The total assets reached ¥5,281,878,210.92 in Q1 2019, compared to ¥4,447,893,111.86 in Q1 2018, marking an increase of 18.7%[22] Equity and Return - The weighted average return on equity increased by 0.30 percentage points to 1.98%[8] - The company's equity attributable to shareholders was RMB 1,881,486,441.13, compared to RMB 1,842,806,824.38, indicating a growth of approximately 2.1%[19] - Total equity rose to ¥2,450,844,356.19 in Q1 2019, up from ¥2,391,517,356.82 in Q1 2018, indicating a growth of 2.5%[22] Expenses - The company reported a decrease in financial expenses by 61.27% to CNY 5,079,093.15, attributed to lower interest expenses and increased interest income[13] - Research and development expenses for Q1 2019 were ¥30,996,855.98, an increase of 16.7% from ¥26,508,681.64 in Q1 2018[25] - Sales expenses for Q1 2019 amounted to ¥180,005,511.80, up 22.9% from ¥146,393,101.63 in Q1 2018[25] Inventory and Receivables - Accounts receivable rose to RMB 1,188,344,225.82, compared to RMB 940,068,758.00, marking an increase of around 26.4%[17] - Inventory levels increased to RMB 891,062,765.51 from RMB 845,262,074.38, showing a growth of about 5.4%[18]

Financial Performance - Operating revenue for the first nine months reached CNY 4,363,029,692.48, a 22.13% increase year-on-year[5] - Net profit attributable to shareholders rose by 34.41% to CNY 49,239,430.26 compared to the same period last year[5] - Basic earnings per share improved by 34.32% to CNY 0.0634[5] - The company reported a net profit margin improvement, with net profit for the year-to-date period reaching ¥4,363,029,692.48, up from ¥3,572,558,665.93, an increase of 22.1%[26] - The net profit for Q3 2018 was a loss of CNY 10,103,600.64, compared to a loss of CNY 19,846,487.48 in Q3 2017, indicating an improvement in performance[32] Cash Flow - The net cash flow from operating activities was CNY 220,993,291.46, a significant recovery from a negative cash flow of CNY -18,752,433.94 in the previous year[5] - Cash flow from operating activities showed a significant improvement, reaching ¥220.99 million compared to a negative cash flow of ¥18.75 million in the previous year[12] - The net cash flow from operating activities for the first nine months of 2018 was ¥220,993,291.46, compared to a net loss of ¥18,752,433.94 in the same period last year, indicating a significant improvement[35] - The total cash inflow from operating activities reached ¥4,599,747,309.54, up from ¥3,793,730,213.02 year-on-year, reflecting a growth of approximately 21.3%[35] - The net cash flow from financing activities was negative at -¥260,549,527.05, compared to a positive cash flow of ¥304,064,014.20 in the same period last year[36] Assets and Liabilities - Total assets increased by 2.69% to CNY 5,030,020,397.90 compared to the end of the previous year[5] - Accounts receivable increased by 38.49% to CNY 967,272,878.58 due to extended payment terms with some customers[11] - Long-term equity investments rose by 54.28% to CNY 271,047,513.68, attributed to increased external investments and capital increases in subsidiaries[11] - Total liabilities increased to ¥2,000,688,836.11 from ¥1,964,741,257.70, marking an increase of 1.8%[24] - The company's equity increased to ¥2,385,927,458.44 from ¥2,378,412,895.96, reflecting a growth of 0.3%[24] Expenses - Total operating expenses for the third quarter were ¥1,413,916,971.98, up from ¥1,183,743,434.93 year-over-year, reflecting a growth of 19.4%[27] - Research and development expenses for the third quarter were ¥29,722,721.04, slightly down from ¥30,018,803.67 year-over-year[27] - The total operating costs for Q3 2018 were CNY 444,338,996.25, up from CNY 390,693,549.92 in Q3 2017, reflecting increased operational expenses[32] - Payments to employees increased to $226.62 million from $193.50 million, reflecting a rise in workforce costs[39] - Tax payments rose significantly to $83.69 million from $42.76 million, indicating higher tax obligations[39] Investment Activities - Investment income rose by 37.65% to ¥9.05 million from ¥6.58 million, attributed to increased external investment returns[12] - The company plans to use up to ¥350 million of temporarily idle raised funds to supplement working capital[12] - The company reported an investment income of CNY 625,808.09 in Q3 2018, compared to a loss of CNY 695,279.93 in the same period last year[32] - The company’s investment cash inflow from recovering investments was ¥2,383,700,000.00, significantly higher than ¥377,800,000.00 in the previous year, showing an increase of 530.5%[36] - Cash used for investment activities was $2.28 billion, compared to $734.89 million in the previous year, showing a substantial increase in capital expenditures[39] Market Strategy - The company plans to expand its market presence and invest in new product development to drive future growth[27] - The company has received approval for its 2018 restricted stock incentive plan, which is currently being implemented[13]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 2,955,394,207.14, representing a 23.27% increase compared to CNY 2,397,548,100.31 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was CNY 60,012,009.52, up 29.61% from CNY 46,302,481.51 in the previous year[20]. - The company achieved a basic earnings per share of CNY 0.0773, reflecting a 29.70% increase from CNY 0.0596 in the same period last year[21]. - The company reported non-recurring gains of CNY 21,252,950.38 during the reporting period, including government subsidies and asset disposal gains[22][23]. - The company reported a net profit for the period of CNY 62,742,339.20, compared to CNY 45,045,548.22 in the same period last year, reflecting a growth of 39.4%[93]. - The company’s net profit for the first half of 2018 was ¥62,742,339.20, an increase of 39.5% compared to ¥45,045,548.22 in the same period last year[94]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -232,789,044.87, compared to CNY -139,726,652.49 in the same period last year[20]. - The cash and cash equivalents decreased to RMB 1,013,706,606.06 from RMB 1,234,896,851.14, reflecting a decline of approximately 17.9%[87]. - The company's current liabilities totaled RMB 2,752,802,302.26, up from RMB 2,621,980,279.37 at the start of the period, indicating a rise in short-term financial obligations[88]. - The ending balance of cash and cash equivalents was CNY 718,812,742.31, down from CNY 830,200,157.51 in the previous period[103]. - The company reported a negative net cash flow from operating activities of 232.79 million RMB, indicating increased cash outflows for purchasing goods[37]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 5,070,687,160.08, a 3.52% increase from CNY 4,898,172,408.56 at the end of the previous year[20]. - The company's total assets amounted to 5.071 billion RMB, with a net asset value of 2.002 billion RMB and a debt-to-asset ratio of 60.52%[32]. - The total liabilities of the company reached RMB 3,068,887,954.40, compared to RMB 2,947,092,944.01 at the beginning of the period, showing an increase of about 4.1%[88]. - Accounts payable increased by 38.54% to CNY 1,051,447,087.07, primarily due to the increase in unpaid amounts[42]. - The company's receivables increased by 108.62% to 870.40 million RMB, attributed to delayed payments from some customers[41]. Strategic Focus and Development - The company is focusing on the development of a full cold chain industry, including household products like refrigerators and freezers, as well as commercial cold chain products and logistics equipment[25]. - The company is implementing an "Internet + Full Cold Chain" strategy to enhance its business model and meet personalized user needs[25]. - The company plans to strengthen innovation in products, markets, and technology to enhance core competitiveness in the second half of the year[34]. - The marketing strategy was shifted from wholesale to direct retail, improving brand value and expanding overseas market channels[33]. - The company plans to enhance product innovation and marketing strategies to mitigate market risks and improve competitiveness[50]. Investments and Financing - The company upgraded its fundraising project to a new cold chain intelligent manufacturing project with a total investment of CNY 704.6048 million, of which CNY 465.5282 million will be funded by raised funds[68]. - The controlling shareholder increased its stake by acquiring 4,924,900 shares, representing 0.63% of the total share capital, with a total investment of CNY 21.3034 million[69]. - The company plans to use up to CNY 350 million of temporarily idle raised funds to supplement working capital within 12 months[69]. - The company has a total guarantee amount of 25,551.55 million RMB, which accounts for 10.66% of the company's net assets[65]. - The company provided a debt guarantee amounting to 667.21 million RMB for entities with asset-liability ratios exceeding 70%[65]. Risk Management - The company faces risks from rising costs of raw materials and labor, which could impact profitability[50]. - The company has pledged to strengthen its talent acquisition and retention strategies to support its growth objectives[50]. - The company has no major litigation or arbitration matters during the reporting period[56]. - The company continues to employ Zhongxinghua Accounting Firm for its 2018 financial report and internal control audit[56]. Accounting Policies and Compliance - The company's financial statements are prepared based on the going concern principle and comply with the relevant accounting standards, reflecting the financial position and operating results as of June 30, 2018[120]. - The company’s accounting policies and estimates are consistent with the accounting standards, ensuring a true and complete reflection of its financial status[122]. - The company applies the asset-liability method to recognize deferred tax assets and liabilities[191]. - The company assesses the recoverability of deferred tax assets at the balance sheet date, reducing their carrying value if future taxable income is unlikely[192]. - The company does not apply changes in significant accounting policies or estimates for the reporting period[199].

Financial Performance - Total revenue for Q1 2018 reached CNY 1,296,473,579.72, representing a 24.30% increase compared to CNY 1,043,031,663.31 in the same period last year[8] - Net profit attributable to shareholders decreased by 4.29% to CNY 30,324,923.21 from CNY 31,685,779.32 year-on-year[8] - The total profit for Q1 2018 was CNY 12,169,727.43, a decrease from CNY 63,523,656.81 in the previous period[33] - The net profit for Q1 2018 was CNY 10,901,243.63, compared to CNY 62,956,888.12 in the same period last year, indicating a significant decline[33] - Earnings per share for Q1 2018 were ¥0.0390, down from ¥0.0408 in the same period last year[30] - The company reported a gross profit margin of approximately 1.98% for Q1 2018, compared to 2.38% in Q1 2017[28] Cash Flow - The net cash flow from operating activities was negative at CNY -345,788,373.42, compared to CNY -47,847,772.32 in the previous year, indicating a significant increase in cash outflow[8] - Cash inflow from operating activities was CNY 1,230,547,946.75, up from CNY 1,000,456,504.93 in the previous year, reflecting a growth of approximately 23%[36] - Cash outflow from operating activities totaled CNY 1,576,336,320.17, compared to CNY 1,048,304,277.25 in the previous year, resulting in a net cash flow from operating activities of -CNY 345,788,373.42[36] - The cash flow from investment activities was impacted by a total outflow of $247,569,728.66, compared to $52,512,592.20 in the previous year[39] - The company reported a significant increase in cash received from sales, totaling CNY 1,185,256,452.15, compared to CNY 955,130,190.64 in the previous year, marking an increase of approximately 24%[35] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,839,537,405.57, a decrease of 1.20% from CNY 4,898,172,408.56 at the end of the previous year[8] - The company's total assets as of March 31, 2018, amounted to RMB 4.84 billion, a decrease from RMB 4.90 billion at the beginning of the year[21] - The company's total liabilities as of March 31, 2018, were RMB 2.85 billion, down from RMB 2.95 billion at the beginning of the year[22] - Total liabilities for Q1 2018 were ¥1,902,169,029.27, down from ¥1,964,741,257.70 in the previous quarter[26] Investments and Subsidiaries - The company established Qingdao Aokema Financing Leasing Co., Ltd. with an investment of RMB 70 million, in collaboration with three other companies[14] - The company approved a capital increase for Qingdao Aokema Special Vehicle Co., Ltd., with Qingdao Aokema Intelligent Industry Investment Co., Ltd. acquiring a 70% stake[14] - The total investment for the upgraded cold chain intelligent manufacturing project is RMB 704.60 million, with RMB 465.53 million sourced from raised funds[15] - The company is in the process of handling the capital increase procedures for its subsidiary, indicating ongoing strategic investments[14] Shareholder Information - The company had a total of 37,834 shareholders at the end of the reporting period[11] - As of March 23, 2018, the controlling shareholder increased its stake by acquiring 4,924,900 shares, representing 0.63% of the total share capital, for a total amount of RMB 21.30 million[16] Financial Expenses and Subsidies - The company reported a significant increase in financial expenses, which rose by 365.73% to CNY 13,115,249.02 due to higher financing rates and exchange rate fluctuations[13] - Government subsidies recognized in the current period amounted to CNY 7,708,756.25, an increase of 89.52% compared to CNY 4,067,526.23 in the previous year[13] Accounts Receivable - Accounts receivable increased by 58.98% to CNY 663,280,042.01, attributed to some customers not reaching the contract payment period[13] - Accounts receivable increased to RMB 663.28 million from RMB 417.21 million at the beginning of the year, reflecting a significant growth[20]

Financial Performance - The company's operating revenue for 2017 was RMB 4,661,967,639.03, representing a 24.30% increase compared to RMB 3,750,644,767.91 in 2016[21] - The net profit attributable to shareholders of the listed company was RMB 32,690,185.99, a 36.46% increase from RMB 23,955,526.68 in the previous year[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 89.56% to RMB 770,553.11 from RMB 7,377,782.93 in 2016[21] - The net cash flow from operating activities was RMB 83,726,627.19, down 49.50% from RMB 165,805,792.85 in 2016[21] - The total assets at the end of 2017 were RMB 4,898,172,408.56, an increase of 17.75% from RMB 4,159,914,747.62 in 2016[21] - The net assets attributable to shareholders of the listed company increased by 1.85% to RMB 1,795,010,787.14 from RMB 1,762,320,601.15 in 2016[21] - The basic earnings per share remained unchanged at RMB 0.04 compared to 2016[22] - The weighted average return on net assets decreased by 0.50 percentage points to 1.84% from 2.34% in 2016[22] - The company achieved a revenue of CNY 4.66 billion in 2017, representing a year-on-year growth of 24.3%[48] - The total profit amounted to CNY 57.16 million, with a year-on-year increase of 65.25%[48] - The net profit attributable to shareholders reached CNY 32.69 million, reflecting a growth of 36.46% compared to the previous year[48] Cash Flow and Investments - The net cash flow from operating activities was negative in Q1 and Q2, at approximately -¥47.85 million and -¥91.88 million, but turned positive in Q3 and Q4, with approximately ¥120.97 million and ¥102.48 million, respectively[25] - The net cash flow from operating activities decreased by 49.50% to ¥83,726,627.19, primarily due to increased cash payments for goods and services[62] - The company reported a significant decrease of 67.69% in net cash flow from financing activities, totaling ¥318,094,584.01, mainly due to reduced fundraising from share issuance[62] - Cash inflow from operating activities totaled CNY 5,411,095,440.16, up from CNY 4,134,341,275.24, representing an increase of about 30.9% year-over-year[193] - The net cash flow from operating activities was CNY 83,726,627.19, a decrease from CNY 165,805,792.85 in the previous year, indicating a decline of approximately 49.6%[193] - Investment activities resulted in a net cash outflow of CNY 458,167,147.15, compared to a smaller outflow of CNY 207,108,269.92 in the previous year, reflecting increased investment expenditures[193] Market Strategy and Product Development - The company completed the development of over 200 new product models across 12 categories during the reporting period, applying for 116 patents, including 28 invention patents[38] - The company is focusing on the "Internet + Full Cold Chain" strategy, enhancing its marketing capabilities through an O2O platform to meet user demands and improve overall sales performance[32] - The company is actively pursuing market expansion and product innovation to adapt to the evolving consumer preferences towards high-end and intelligent home appliances[33] - The overall business model remains focused on enhancing product differentiation and quality, aiming to solidify its market position amidst increasing competition[38] - The company launched several high-end products, including the first smart frost-free refrigerator and a -40℃ deep freezing refrigerator, enhancing its brand image in the high-end market[39] - The company developed a smart cold chain management platform, achieving real-time monitoring of equipment status and winning local technical invention awards[40] Challenges and Risks - The domestic refrigerator market showed only a 3.7% growth in retail volume, indicating a challenging environment for the company, which is adapting by focusing on high-end and smart product offerings[33] - The company anticipates challenges from high material costs and increased competition in the home appliance sector[77] - The company faces risks from macroeconomic conditions, including potential slowdowns in domestic economic growth and increased competition in a mature industry[89][90] - Rising costs of raw materials and logistics are anticipated to pressure profitability if they remain high in 2018[91] Shareholder and Governance Matters - The proposed cash dividend distribution is RMB 0.3 per 10 shares, totaling RMB 23,302,598.07, which accounts for 71.28% of the net profit for the year[5] - The company revised its cash dividend policy to enhance protection for minority investors, which was approved by the board and shareholders[94] - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[97] - The company has no major litigation or arbitration matters during the reporting period[103] - The company has committed to not transferring newly acquired shares for 12 to 36 months post-issuance, depending on the shareholder[99] - The company has no significant issues regarding the integrity of its controlling shareholders or actual controllers during the reporting period[103] Employee and Management Structure - The total number of employees in the parent company is 3,765, while the main subsidiaries employ 2,171, resulting in a total of 5,936 employees[148] - The company has a diverse management team with extensive experience in various sectors, which may contribute to strategic decision-making[142] - The management team includes individuals with significant experience in both operational and financial roles, enhancing the company's strategic capabilities[142] - The total remuneration payable to directors, supervisors, and senior management during the reporting period amounted to 4.236 million yuan[145] - The remuneration includes both basic salary and performance-based compensation, with basic salary paid monthly and performance compensation distributed based on annual operating results[145] - The company has a structured performance evaluation system that influences the remuneration of directors and senior management[145] Financial Position and Assets - The company's total assets amounted to ¥4,898,172,408.56, up from ¥4,159,914,747.62, showing an increase of around 17.7%[178] - Total liabilities increased to ¥2,947,092,944.01 from ¥2,294,624,498.87, reflecting a rise of approximately 28.5%[178] - The company reported a total equity of ¥1,951,079,464.55, up from ¥1,865,290,248.75, indicating an increase of about 4.6%[179] - Accounts receivable increased to CNY 1 billion, up 14.94% from CNY 870 million at the beginning of the period[165] - Bad debt provision reached CNY 583 million, a 1.22% increase from CNY 576 million at the beginning of the period[165]

Financial Performance - Operating revenue rose by 17.84% to CNY 3,572,558,665.93 year-to-date[5] - Net profit attributable to shareholders decreased by 38.86% to CNY 36,633,711.93 compared to the same period last year[5] - Net profit for the first nine months was CNY 35,231,999.47, down from CNY 58,679,378.95, showing a decline of about 40%[25] - Operating revenue for the third quarter was CNY 1,175,010,565.62, compared to CNY 824,976,518.40 in the same period last year, marking an increase of approximately 42.5%[24] - The company's operating revenue for Q3 2017 was approximately ¥424.30 million, a 40.0% increase compared to ¥303.00 million in Q3 2016[29] - The net profit for Q3 2017 was a loss of approximately ¥19.85 million, compared to a loss of ¥20.93 million in the same period last year, showing a slight improvement[30] - The total comprehensive income for Q3 2017 was a loss of approximately ¥19.85 million, compared to a loss of ¥20.93 million in Q3 2016[31] Cash Flow - Net cash flow from operating activities was negative at CNY -18,752,433.94, a decline of 109.27% year-on-year[5] - Cash flow from operating activities showed a net outflow of ¥18.75 million, a decline of 109.27% compared to a positive cash flow of ¥202.32 million in the same period last year[12] - The cash flow from operating activities for the first nine months of 2017 was approximately ¥3.67 billion, compared to ¥2.96 billion in the same period last year, representing a 24.0% increase[33] - The net cash flow from operating activities for Q3 2017 was -18,752,433.94 RMB, a decrease from 202,323,366.76 RMB in the same period last year[34] - Cash outflow from operating activities totaled 3,812,482,646.96 RMB, up from 2,847,472,903.30 RMB, indicating a rise of about 33.8%[34] - The net cash flow from investing activities was -391,623,354.35 RMB, worsening from -103,993,019.60 RMB year-over-year[34] - The net cash flow from financing activities was 304,064,014.20 RMB, compared to 170,031,990.36 RMB in the same quarter last year, showing an increase of approximately 79%[35] Assets and Liabilities - Total assets increased by 16.23% to CNY 4,834,953,233.45 compared to the end of the previous year[5] - Total assets reached ¥4.83 billion, up from ¥4.16 billion, reflecting a growth in both current and non-current assets[17] - Total assets increased to CNY 5,372,479,212.08 from CNY 4,215,451,656.70, representing a growth of approximately 27.4%[20] - Current liabilities increased to ¥2.34 billion from ¥1.94 billion, with short-term loans rising significantly to ¥485.85 million from ¥185 million[18] - Total liabilities increased to CNY 2,998,074,933.95 from CNY 1,878,473,940.67, reflecting a growth of approximately 59.7%[21] Shareholder Information - The company completed a non-public issuance of shares, increasing total shares to 776,753,269[5] - The number of shareholders reached 39,925 by the end of the reporting period[8] Investments and Expenses - Investment income improved significantly to ¥6.58 million from a loss of ¥1.17 million, marking a substantial recovery[12] - Tax and additional charges rose by 127.79% to ¥37.57 million from ¥16.49 million due to accounting policy changes[12] - The company approved a capital increase of ¥15 million for a partnership investment in Qingdao High-tech Venture Capital[13] - The company agreed to a directed reduction of its stake in Beijing Guoxiang Asset Management, with a minimum reduction price of ¥65 million[13] - The company's cash and cash equivalents decreased to CNY 794,421,024.15 from CNY 1,112,243,364.09, a decline of approximately 28.5%[20] - Accounts receivable increased by 94.17% to CNY 571,875,839.49 due to some customers not reaching the contract payment period[11] - Accounts receivable increased to CNY 1,266,866,605.06 from CNY 946,670,772.19, representing a growth of about 33.8%[20] - Inventory rose to CNY 219,769,257.08 from CNY 180,480,494.86, indicating an increase of approximately 21.8%[20] - Short-term borrowings increased significantly to CNY 464,447,580.00 from CNY 185,000,000.00, reflecting a growth of about 151.5%[21] Operating Costs - Operating costs for the third quarter were CNY 1,183,743,434.93, up from CNY 835,467,838.87, which is an increase of about 41.6%[24] - The total operating costs for Q3 2017 were approximately ¥390.69 million, up from ¥274.19 million in Q3 2016, reflecting a 42.5% increase[29] - The sales expenses for Q3 2017 were approximately ¥15.16 million, slightly up from ¥14.31 million in Q3 2016[29] - The management expenses for Q3 2017 were approximately ¥35.02 million, down from ¥36.95 million in Q3 2016, indicating a cost reduction[29]

Financial Performance - The company's operating revenue for the first half of 2017 was CNY 2,397,548,100.31, representing an increase of 8.65% compared to CNY 2,206,720,520.56 in the same period last year[19]. - The net profit attributable to shareholders of the listed company decreased by 27.90% to CNY 46,302,481.51 from CNY 64,223,982.33 year-on-year[19]. - The net cash flow from operating activities was negative at CNY -139,726,652.49, compared to CNY -34,461,890.34 in the previous year, indicating a significant decline[19]. - The total assets at the end of the reporting period were CNY 4,539,196,921.88, an increase of 9.12% from CNY 4,159,914,747.62 at the end of the previous year[19]. - The company's net assets attributable to shareholders increased by 2.63% to CNY 1,808,623,082.66 from CNY 1,762,320,601.15 at the end of the previous year[19]. - Basic earnings per share decreased by 36.73% to CNY 0.0596 from CNY 0.0942 in the same period last year[20]. - The company reported a negative net cash flow from operating activities of CNY -139.73 million, compared to CNY -34.46 million in the previous year[35]. - The company reported a net loss of CNY 174,508,989.21, an improvement from a loss of CNY 220,811,470.72 in the previous period[84]. - The company reported a net profit for the first half of 2017 of CNY 45,045,548.22, a decrease of 29.36% from CNY 63,848,327.34 in the same period last year[90]. Assets and Liabilities - The total assets of the company reached CNY 4.54 billion, with a net asset value of CNY 1.96 billion, resulting in a debt-to-asset ratio of 56.73%[29]. - Current assets totaled CNY 2,994,974,570.10, up from CNY 2,724,234,585.35 at the start of the period, reflecting a growth of approximately 9.9%[82]. - Total liabilities rose to CNY 2,574,861,124.91 from CNY 2,294,624,498.87, indicating an increase of about 12.2%[84]. - Accounts receivable increased significantly to CNY 808,147,107.86 from CNY 294,523,898.68, representing a growth of approximately 174.5%[82]. - Short-term borrowings rose by 107.81% to 384,447,580.00 RMB, accounting for 8.47% of total assets, reflecting adjustments in financing structure[40]. - The total guarantee amount (including guarantees to subsidiaries) is CNY 5,350.25 million, accounting for 2.23% of the company's net assets[63]. Business Strategy and Development - The company is focusing on the development of "Internet + full cold chain" strategy, aiming to enhance smart cold chain and smart home appliance solutions[25]. - The company is actively upgrading its electric vehicle and home appliance businesses, including electric bicycles and kitchen appliances[25]. - The company is advancing its O2O marketing platform, with the first phase fully operational, integrating B2B and B2C e-commerce capabilities[31]. - The company is constructing an intelligent manufacturing factory, which has commenced operations, utilizing IoT technology for automated production[31]. - The company plans to enhance R&D investment and accelerate the transformation towards high-end and intelligent products, aiming to improve competitiveness in the market[50]. Market and Economic Conditions - The company is facing macroeconomic risks, including slow global economic recovery and tightening real estate policies, which may impact consumer markets[49]. - The company aims to deepen O2O marketing platform construction and expand online and offline channel development to meet new market demands[50]. Investments and Financial Management - The company reported non-recurring gains of CNY 12,269,979.02 during the reporting period, with significant contributions from government subsidies and asset disposals[22][23]. - The company has invested RMB 30 million to establish a limited partnership, Qingdao Gaochuang Aohai Venture Capital Enterprise[59]. - The company has completed the filing procedures for the private investment fund according to relevant laws and regulations[60]. - The company issued a short-term financing bond with a total amount of CNY 220 million, and the total principal and interest paid on January 25, 2017, was CNY 232.32 million[66]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 40,498[71]. - The largest shareholder, Qingdao Enterprise Development Investment Co., Ltd., holds 39.07% of the shares, totaling 303,492,325 shares[73]. - The second-largest shareholder, Qingdao Urban Investment Financial Holding Group Co., Ltd., holds 8.96% of the shares, totaling 69,569,220 shares[73]. Compliance and Governance - The company continues to employ Zhongxinghua Certified Public Accountants for the 2017 financial report and internal control audit[56]. - There are no major litigation or arbitration matters during the reporting period[56]. - The company and its controlling shareholders have maintained good integrity status during the reporting period[56]. - The company has not disclosed any major contracts or significant related party transactions during the reporting period[64]. Accounting Policies and Practices - The company adheres to the accounting standards set by the Ministry of Finance, ensuring that the financial statements accurately reflect its financial position and operating results as of June 30, 2017[118]. - The company’s financial statements are prepared based on the accrual basis of accounting, reflecting actual transactions and events[116]. - The company’s accounting policies and periods are consistent across all subsidiaries included in the consolidated financial statements[125]. - The company recognizes revenue from product sales when the significant risks and rewards of ownership have been transferred to the buyer, with domestic sales confirmed upon customer receipt and international sales confirmed upon customs clearance and shipment[180].

Financial Performance - Net profit attributable to shareholders increased by 6.80% to RMB 31,685,779.32 year-on-year[9] - Operating revenue for the first quarter was RMB 1,043,031,663.31, a 0.77% increase from the same period last year[9] - The net profit after deducting non-recurring gains and losses increased by 4.44% to RMB 26,123,330.51[9] - Net profit for Q1 2017 reached CNY 30,724,519.52, up from CNY 28,412,792.25 in Q1 2016, indicating a growth of approximately 8.1%[30] - The net profit attributable to shareholders of the parent company was CNY 31,685,779.32, compared to CNY 29,669,434.87 in the previous year, marking an increase of around 6.8%[30] - Total profit for the current period is ¥63,523,656.81, up 46% from ¥43,544,391.11 in the previous period[32] Assets and Liabilities - Total assets increased by 0.54% to RMB 4,182,357,737.62 compared to the end of the previous year[9] - As of March 31, 2017, the company's total assets reached RMB 4,182,357,737.62, showing a slight increase from RMB 4,159,914,747.62 at the beginning of the year[22] - Total assets as of the end of Q1 2017 were CNY 4,381,803,736.56, an increase from CNY 4,215,451,656.70 at the end of Q1 2016, representing a growth of approximately 3.93%[26] - The company's total liabilities decreased slightly to RMB 2,286,342,969.35 from RMB 2,294,624,498.87, a reduction of about 0.4%[22] - Total liabilities for Q1 2017 were CNY 1,981,869,132.41, compared to CNY 1,878,473,940.67 in the same period last year, reflecting an increase of about 5.5%[26] Cash Flow - Cash flow from operating activities showed a net outflow of RMB 47,847,772.32, worsening from a net outflow of RMB 20,352,608.85 in the previous year[15] - Cash and cash equivalents decreased to RMB 1,065,384,006.41 from RMB 1,294,346,835.05 at the beginning of the year, a decline of approximately 17.7%[20] - Cash flow from operating activities generated a net outflow of ¥47,847,772.32, worsening from a net outflow of ¥20,352,608.85 in the previous period[38] - Cash and cash equivalents at the end of the period decreased to ¥1,065,384,006.41 from ¥1,294,346,835.05 at the beginning of the period, a decline of 17.7%[38] - Cash inflow from financing activities totaled $129,447,580 and $260,000,000 for the respective periods[40] - Cash outflow from financing activities amounted to $276,581,230.01 and $132,899,501.39 for the respective periods[40] - Net cash flow from financing activities was -$147,133,650.01 and $127,100,498.61 for the respective periods[40] Investments and Financing - The company approved a non-public stock issuance to replace self-raised funds amounting to RMB 87,125,666.28[16] - The company plans to extend a loan of RMB 20 million to Shanghai Quanxiang Investment Center, indicating ongoing financial support strategies[17] - The company has engaged in external investments, including participation in a limited partnership venture, reflecting a strategy for market expansion[16] - The company reported an increase in investment income to ¥52,344,033.79 from a loss of ¥935,753.26 in the previous period[32] Receivables and Inventory - Accounts receivable increased by 69.80% to RMB 500,102,383.50 due to some customers not reaching the contract payment period[14] - Accounts receivable increased significantly to RMB 500,102,383.50 from RMB 294,523,898.68, representing a growth of about 69.8%[20] - Inventory levels rose to RMB 703,071,119.99 from RMB 627,234,253.87, indicating an increase of approximately 12.1%[20] Earnings Per Share - Basic earnings per share decreased by 6.21% to RMB 0.0408 compared to the previous year[9] - Basic and diluted earnings per share for Q1 2017 were both CNY 0.0408, down from CNY 0.0435 in Q1 2016[30] Equity and Return on Equity - The weighted average return on equity decreased by 1.11 percentage points to 1.78%[9] - Total equity increased to CNY 2,399,934,604.15 in Q1 2017 from CNY 2,336,977,716.03 in Q1 2016, indicating a growth of approximately 2.7%[26]