Core Points - The document outlines the internal management system for the temporary suspension and exemption of information disclosure by Aucma Co., Ltd, aiming to ensure compliance with legal obligations and protect investors' rights [1][2][3] - The company must ensure that any temporary suspension or exemption of disclosure is based on sufficient evidence and does not mislead investors or involve illegal activities such as insider trading [1][2][3] - The document specifies the conditions under which information can be exempted from disclosure, including national secrets and commercial secrets, and outlines the procedures for internal review and approval [2][3][4] Summary by Sections - **Internal Review Procedures**: The company must establish clear internal review procedures for any temporary suspension or exemption of information disclosure, ensuring that all actions are compliant with relevant laws and regulations [1][4] - **Conditions for Exemption**: Information can be exempted from disclosure if it involves national secrets or commercial secrets that could lead to unfair competition or harm to the company or others [2][3] - **Disclosure of Exempted Information**: If the reasons for exemption no longer apply, or if the information becomes difficult to keep confidential, the company must disclose the information promptly, including the rationale for its initial classification as a commercial secret [3][4] - **Documentation and Accountability**: The company is required to maintain thorough documentation of any exemptions or suspensions, including the reasons, internal review processes, and any insider knowledge of the information during the suspension period [4][5] - **Reporting Obligations**: The company must submit relevant documentation regarding any suspended or exempted disclosures to the regulatory authorities within ten days following the announcement of periodic reports [5][6]

Core Viewpoint - The report highlights a decline in revenue and profit for Aucma Co., Ltd. in the first half of 2025, attributed to intensified market competition and changing consumer demand in the home appliance industry [2][3]. Company Overview and Key Financial Indicators - Aucma Co., Ltd. reported a total revenue of approximately 4.06 billion yuan, a decrease of 12.23% compared to the same period last year [2]. - The total profit for the period was approximately 39.58 million yuan, down 16.94% year-on-year [2]. - The net profit attributable to shareholders was approximately 37.85 million yuan, reflecting a 24.36% decline compared to the previous year [2]. - The company's net assets increased by 1.44% to approximately 2.48 billion yuan, while total assets rose by 2.63% to approximately 8.11 billion yuan [2]. Industry and Main Business Situation - The home appliance market in China is experiencing a slowdown, with a 9.2% year-on-year growth in retail sales, driven by policies encouraging upgrades [3]. - The refrigerator segment saw a 3.9% increase in retail sales, while the freezer segment declined by 5.1% [3]. - The air conditioning sector grew by 12.4%, benefiting from government subsidies, with a notable increase in penetration rates in rural and urban areas [3]. - The export market for home appliances is facing challenges due to rising shipping costs and geopolitical tensions, with overall export growth slowing [3][4]. Main Business Analysis - Aucma focuses on refrigeration technology and product manufacturing, maintaining a leading position in the domestic cold chain equipment market [4]. - The company is transitioning from a traditional home appliance manufacturer to a cold chain IoT enterprise, implementing an "Internet + Cold Chain" strategy [5]. - The company has developed a comprehensive cold chain industry layout, including home cold chain, commercial cold chain, and medical cold chain solutions [5]. Financial Performance and Cost Analysis - The operating costs for the first half of 2025 were approximately 3.49 billion yuan, a decrease of 12.93% compared to the previous year [15]. - The company reported a significant drop in cash flow from operating activities, with a net outflow of approximately 165.88 million yuan [15]. - The financial expenses decreased by 11.16%, primarily due to increased exchange gains [15]. Research and Development - Aucma is enhancing its R&D capabilities, focusing on smart appliances and energy-efficient products, and has received multiple awards for innovation [11][12]. - The company collaborates with universities and research institutions to advance technologies in low-temperature preservation and smart appliances [11][12]. Market Strategy and Competitive Position - Aucma is adopting a dual strategy of OEM and self-owned brands to expand its overseas market presence, particularly in emerging markets [11]. - The company is also focusing on enhancing its supply chain capabilities and exploring new trade opportunities to balance foreign exchange [11].

澳柯玛股份有限公司2025 年半年度报告摘要 第一节 重要提示 澳柯玛股份有限公司2025 年半年度报告摘要 公司代码：600336 公司简称：澳柯玛 澳柯玛股份有限公司 表决权恢复的优先股股东及持股数量 展规划，投资者应当到 www.sse.com.cn 网站仔细阅读半年度报告全文。 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司 2025 年半年度利润分配方案为：向全体股东每 10 股派发现金红利 0.10 元（含税）。截 至 2025 年 8 月 22 日，公司总股本 798,014,769 股，以此计算合计拟派发现金红利 7,980,147.69 元（含税）。 第二节 公司基本情况 公司股票简况 股票种类 股票上市交易所 股票简称 股票代码 变更前股票简 称 A股 上海证券交易所 澳柯玛 600336 联系人和联系方式 董事会秘书 证券事务代表 姓名 徐玉翠 季修宪 电话 0532-86765129 0532-86765129 办公地址 青岛市西海岸新区太行山路2号 青岛市西海岸新区太行山路2 号 澳柯玛创新中心 澳柯玛创新中心 电子信箱 xuyc@aucma.com ...

[Important Notice](index=2&type=section&id=%E9%87%8D%E8%A6%81%E6%8F%90%E7%A4%BA) This section provides important information regarding the profit distribution plan and risk disclosures for the first half of 2025 [Profit Distribution Plan](index=2&type=section&id=%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E9%A2%84%E6%A1%88) The company's board of directors approved the 2025 semi-annual profit distribution plan, proposing a cash dividend of 0.10 yuan (tax inclusive) per 10 shares to all shareholders, totaling 7,980,147.69 yuan 2025 Semi-Annual Profit Distribution Plan | Metric | Amount/Description | | :--- | :--- | | Cash dividend per 10 shares (tax inclusive) | 0.10 yuan | | Total proposed cash dividend (tax inclusive) | 7,980,147.69 yuan | | Total share capital | 798,014,769 shares | [Risk Statement and Disclosure](index=2&type=section&id=%E9%A3%8E%E9%99%A9%E5%A3%B0%E6%98%8E%E4%B8%8E%E6%8F%90%E7%A4%BA) The company had no material significant risks affecting its operations during the reporting period, but forward-looking statements do not constitute substantive commitments, and investors should be aware of investment risks - Forward-looking statements in this semi-annual report, such as future plans and development strategies, do not constitute substantive commitments to investors, who are reminded to be aware of investment risks[7](index=7&type=chunk) - During the reporting period, the company's production and operations did not face any material significant risks, with specific risks and countermeasures detailed in Section III Management Discussion and Analysis[8](index=8&type=chunk) [Section I Definitions](index=4&type=section&id=%E7%AC%AC%E4%B8%80%E8%8A%82%20%E9%87%8A%E4%B9%89) This section provides definitions of common terms used throughout the report, clarifying that "the Company" refers to Aokema Co., Ltd [Definitions of Common Terms](index=4&type=section&id=%E5%B8%B8%E7%94%A8%E8%AF%8D%E8%AF%AD%E9%87%8A%E4%B9%89) This section primarily explains common terms used in the report, clarifying that "the Company" refers to Aokema Co., Ltd - "The Company" refers to Aokema Co., Ltd[13](index=13&type=chunk) [Section II Company Profile and Key Financial Indicators](index=4&type=section&id=%E7%AC%AC%E4%BA%8C%E8%8A%82%20%E5%85%AC%E5%8F%B8%E7%AE%80%E4%BB%8B%E5%92%8C%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) This section provides an overview of the company's basic information and presents key accounting data and financial indicators for the reporting period [Company Basic Information](index=4&type=section&id=%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E4%BF%A1%E6%81%AF) This section introduces Aokema Co., Ltd.'s basic information, including its Chinese name, abbreviation, foreign name, legal representative, contact details, registered address, and information disclosure channels - The company's Chinese name is Aokema Co., Ltd., abbreviated as Aokema, with Zhang Bin as its legal representative[15](index=15&type=chunk) - The company's shares are listed on the Shanghai Stock Exchange under stock code 600336[19](index=19&type=chunk) [Key Accounting Data and Financial Indicators](index=5&type=section&id=%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) In the first half of 2025, the company's operating revenue decreased by 12.23% year-on-year, net profit attributable to shareholders decreased by 24.36%, and net cash flow from operating activities significantly dropped by 700.64%, while net profit excluding non-recurring gains and losses increased by 28.47% Key Accounting Data for H1 2025 | Metric | Current Period (Jan-Jun) (yuan) | Prior Period (yuan) | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,057,157,427.71 | 4,622,295,200.79 | -12.23 | | Total Profit | 39,580,133.82 | 47,652,010.26 | -16.94 | | Net Profit Attributable to Shareholders of Listed Company | 37,854,693.61 | 50,048,865.15 | -24.36 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Gains/Losses) | 36,151,783.95 | 28,140,202.92 | 28.47 | | Net Cash Flow from Operating Activities | -165,877,017.63 | 27,616,894.16 | -700.64 | | Net Assets Attributable to Shareholders of Listed Company (Period-end) | 2,475,938,541.84 | 2,440,805,705.67 | 1.44 | | Total Assets (Period-end) | 8,111,567,953.93 | 7,903,714,439.89 | 2.63 | Key Financial Indicators for H1 2025 | Key Financial Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.0474 | 0.0627 | -24.40 | | Diluted Earnings Per Share (yuan/share) | 0.0474 | 0.0627 | -24.40 | | Basic EPS (Excluding Non-Recurring Gains/Losses) (yuan/share) | 0.0453 | 0.0353 | 28.33 | | Weighted Average Return on Net Assets (%) | 1.54 | 1.99 | Decrease by 0.45 percentage points | | Weighted Average Return on Net Assets (Excluding Non-Recurring Gains/Losses) (%) | 1.47 | 1.12 | Increase by 0.35 percentage points | Non-Recurring Gains and Losses for H1 2025 | Non-Recurring Gain/Loss Item | Amount (yuan) | | :--- | :--- | | Gains/losses on disposal of non-current assets | -3,234.49 | | Government grants recognized in current profit/loss | 1,865,800.00 | | Fund occupation fees collected from non-financial enterprises recognized in current profit/loss | 164,008.08 | | Other non-operating income and expenses apart from the above | 202,137.23 | | Less: Income tax impact | 302,479.76 | | Impact on minority interests (after tax) | 223,321.40 | | Total | 1,702,909.66 | [Section III Management Discussion and Analysis](index=6&type=section&id=%E7%AC%AC%E4%B8%89%E8%8A%82%20%E7%AE%A1%E7%90%86%E5%B1%82%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) This section provides a comprehensive discussion and analysis of the company's industry, main business operations, financial performance, core competencies, and potential risks [Industry and Main Business Overview](index=6&type=section&id=%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E5%8F%8A%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5) In the first half of 2025, China's home appliance market entered a mature competition phase with slowing industry growth and intense price wars, yet "trade-in" policies supported domestic market expansion, driving demand for high-end and smart products; export market growth slowed, prompting companies to shift towards "capacity layout + brand cultivation + localized operations"; the company, specializing in refrigeration technology, has transformed from a traditional home appliance manufacturer into a full cold chain IoT enterprise, offering smart cold chain solutions and intelligent home appliances - In the first half of 2025, China's home appliance market entered a deep phase of mature competition, with retail sales growing by **9.2%** year-on-year, aided by "trade-in" policies, but industry growth slowed, and price wars intensified[26](index=26&type=chunk) - Export market growth slowed due to Sino-US tariff friction, a decline in the inventory replenishment cycle, and rising shipping costs, leading companies to adjust their strategies to "capacity layout + brand cultivation + localized operations"[27](index=27&type=chunk) - The company has transformed from a traditional home appliance enterprise primarily focused on freezers into a cold chain IoT enterprise based on full cold chain products, establishing a comprehensive cold chain industry layout encompassing household, commercial, cold storage, cold chain transportation, automated retail, and biomedical sectors[28](index=28&type=chunk) - The company's main electrical appliance products adopt a "agency distribution + direct sales" marketing model, with an online "5+2" channel layout, and overseas business developing both own brands and OEM[30](index=30&type=chunk) [Industry Overview](index=6&type=section&id=%E5%85%AC%E5%8F%B8%E6%89%80%E5%B1%9E%E8%A1%8C%E4%B8%9A%E6%83%85%E5%86%B5) In the first half of 2025, China's home appliance market retail sales grew by 9.2% year-on-year under the "trade-in" policy, but growth slowed due to early demand release and insufficient consumer desire; refrigerator, air conditioner, and laundry product retail sales increased by 3.9%, 12.4%, and 11.8% respectively, while freezer retail sales decreased by 5.1%; the export market saw volumes and values grow by 3.5% and 1.4% respectively, facing pressure from multiple factors, while the light commercial refrigeration equipment industry experienced short-term pressure and the medical cold chain industry underwent transformation pains - In the first half, China's overall home appliance retail sales grew by **9.2%** year-on-year, with refrigerators growing by **3.9%**, freezers declining by **5.1%**, air conditioners growing by **12.4%**, and laundry products growing by **11.8%**[26](index=26&type=chunk) - From January to June 2025, China's household appliance export volume and value increased by **3.5%** and **1.4%** year-on-year, respectively[27](index=27&type=chunk) - In the first half, China's light commercial refrigeration equipment industry sales decreased by **3%** year-on-year, and medical freezer sales declined by **9%** year-on-year[27](index=27&type=chunk)[28](index=28&type=chunk) [Main Business Operations](index=7&type=section&id=%E5%85%AC%E5%8F%B8%E4%B8%BB%E8%90%A5%E4%B8%9A%E5%8A%A1%E6%83%85%E5%86%B5) The company specializes in refrigeration technology R&D and product manufacturing, leading in domestic full cold chain equipment and home appliances, having transformed into a cold chain IoT enterprise based on comprehensive cold chain products, establishing a full cold chain industry layout across household, commercial, cold storage, transportation, automated retail, and biomedical sectors, while actively developing smart home appliances to offer full-scenario smart living solutions - The company primarily focuses on refrigeration technology R&D and product manufacturing, ranking among the leading enterprises in domestic full cold chain products and home appliances[28](index=28&type=chunk) - The company has established a comprehensive cold chain industry layout including household cold chain, commercial cold chain, cold storage, cold chain transportation, automated retail, and biomedical sectors, and has built a cold chain IoT management platform[28](index=28&type=chunk)[29](index=29&type=chunk) - The smart home appliance industry aims for full-scenario smart living solutions, focusing on developing intelligent products such as refrigerators, freezers, air conditioners, washing machines, range hoods, water heaters, and small household appliances[29](index=29&type=chunk) [Discussion and Analysis of Operations](index=7&type=section&id=%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5%E7%9A%84%E8%AE%A8%E8%AE%BA%E4%B8%8E%E5%88%86%E6%9E%90) In the first half of 2025, the company's operating revenue was **4.057 billion yuan**, a year-on-year decrease of **12.23%**; net profit attributable to the parent company was **37.8547 million yuan**, a year-on-year decrease of **24.36%**; the company actively responded to market challenges, promoted the transformation and upgrading of smart home appliances, smart cold chain, and overseas businesses, strengthened R&D innovation and digital intelligence construction, and continuously improved product quality - In the first half of 2025, the company achieved operating revenue of **4.057 billion yuan**, a year-on-year decrease of **12.23%**; net profit attributable to shareholders of the listed company was **37.8547 million yuan**, a year-on-year decrease of **24.36%**[30](index=30&type=chunk) - The company's total assets were **8.112 billion yuan**, net assets were **2.685 billion yuan**, and the asset-liability ratio was **66.89%**[30](index=30&type=chunk) [Domestic Smart Home Appliance Business](index=7&type=section&id=%E5%9B%BD%E5%86%85%E6%99%BA%E8%83%BD%E5%AE%B6%E7%94%B5%E4%B8%9A%E5%8A%A1) The company, aligning with smart home appliance trends, embedded aesthetics, and "trade-in" policies, launched innovative products such as deep-freeze refrigerators, inverter energy-saving freezers, large-circulation smart voice air conditioners, and washer-dryer sets, while transforming offline channels into "product scenario experience + one-stop service" to enhance user satisfaction - The company launched deep-freeze refrigerators, new-generation air-cooled frost-free freezers, industry-first inverter energy-saving freezers, and multiple smart AI home appliances to meet consumers' demand for quality living[31](index=31&type=chunk) - The air conditioning industry enriched its product line, introducing the **900m³/h** large-circulation powerful wind series smart voice air conditioners and upgrading R32 eco-friendly refrigerant air source heat pump heating units[32](index=32&type=chunk) - Small home appliances focused on kitchen and bathroom scenarios, launching smoke-purifying silent, AI intelligent control series range hoods and AI all-time stir-fry gas stoves, while electric water heaters innovated with an 8-shaped inner tank structure for ultra-thin design[33](index=33&type=chunk) [Domestic Smart Cold Chain Business](index=8&type=section&id=%E5%9B%BD%E5%86%85%E6%99%BA%E6%85%A7%E5%86%B7%E9%93%BE%E4%B8%9A%E5%8A%A1) The smart cold chain industry optimized its product portfolio, launching a new generation of air duct display cabinets and serialized horizontal display cabinets for segmented markets, and collaborated with leading brands to introduce smart unmanned retail display cabinets; refrigerated special vehicles developed military PD special vehicles, while the biomedical industry built an integrated "hardware + data + service" AI ecosystem - Production and sales of commercial display cabinets significantly increased year-on-year, establishing strong partnerships with leading industry clients[34](index=34&type=chunk) - The smart unmanned retail business, in collaboration with leading brands and operators, launched a new generation of smart unmanned retail display cabinets, with sales continuously increasing[34](index=34&type=chunk) - The biomedical industry established an integrated "hardware + data + service" AI ecosystem, leading to increased market recognition for new ultra-low temperature storage equipment and other products[34](index=34&type=chunk) [Overseas Business](index=8&type=section&id=%E6%B5%B7%E5%A4%96%E4%B8%9A%E5%8A%A1) The company adheres to a dual-driven strategy of OEM and own brands, focusing on expanding into emerging markets like Southeast Asia, the Middle East, Africa, and Latin America, while deepening cooperation with key account clients in Europe and America; in the first half, overseas air conditioner and washing machine sales grew by **94%** and **349%** respectively, with revenue and profit growth exceeding **100%** in key Latin American markets such as Mexico, and own-brand revenue increasing by **63%** - Overseas business adheres to a dual-driven strategy of OEM and own brands, focusing on expanding into emerging markets and deepening strategic cooperation with global major home appliance key account clients[35](index=35&type=chunk) - In the first half, overseas air conditioner and washing machine sales grew by **94%** and **349%** respectively, with revenue and profit growth exceeding **100%** in key Latin American markets such as Mexico, and own-brand revenue increasing by **63%**[35](index=35&type=chunk) [R&D System Construction and Innovation](index=8&type=section&id=%E7%A0%94%E5%8F%91%E4%BD%93%E7%B3%BB%E5%BB%BA%E8%AE%BE%E4%B8%8E%E5%88%9B%E6%96%B0) The company is advancing high-standard R&D innovation system construction, optimizing organizational structure, and improving the "two-tier, four-level" R&D framework and "three generations" innovation planning system; in the first half, it received multiple innovation awards, introduced high-end talents, and collaborated with universities on R&D projects to enhance low-temperature preservation technology capabilities - The company optimized its R&D organizational structure, improved the "two-tier, four-level" R&D framework and "three generations" innovation planning system, enhancing its R&D innovation capabilities[35](index=35&type=chunk) - In the first half, the company won **two second prizes** at the 10th Shandong Province Smart Manufacturing Innovation and Entrepreneurship Competition 2025 and **two AWE AWE Awards for Innovation**[35](index=35&type=chunk) - Leveraging its national industrial design center, the company established a planning and industrial design center, completing multi-category new product designs and deepening brand impression[36](index=36&type=chunk)[37](index=37&type=chunk) [Digital and Intelligent Transformation and Upgrading](index=9&type=section&id=%E6%95%B0%E6%99%BA%E5%8C%96%E8%BD%AC%E5%9E%8B%E5%8D%87%E7%BA%A7) The company actively optimized core digital systems, advancing the construction of B2B e-commerce, L-MES, foreign trade, logistics, and quality digital projects to achieve efficient collaboration in marketing operations; it also initiated exploration into AI platform construction, promoting the implementation of AI intelligent assistant and AI intelligent customer service projects to enhance digital and intelligent management - The company advanced the construction of B2B e-commerce, L-MES, foreign trade, logistics, and quality digital projects, with the new B2B e-commerce platform achieving efficient full-link collaboration in marketing operations[37](index=37&type=chunk) - Initial exploration into AI platform construction is underway, preparing for a multi-modal processing and knowledge-enhanced large model basic platform, and promoting the implementation of AI intelligent assistant and AI intelligent customer service projects[37](index=37&type=chunk) [Quality Improvement](index=9&type=section&id=%E8%B4%A8%E9%87%8F%E6%8F%90%E5%8D%87) The company focuses on user experience, implements quality innovation, and continuously promotes product quality improvement; through the PMR center, it conducts special quality improvement projects to reduce market defect rates; strengthens supervision, auditing, and quality responsibility implementation; benchmarks against industry leaders to enhance quality hardware and software facilities; and has entered the development and implementation phase for its digital quality management system - The company, using the PMR center as its information source, conducted special quality improvement initiatives, continuously reducing the market defect rate[37](index=37&type=chunk) - The digital quality management system has entered the development and implementation phase, comprehensively strengthening the construction of quality software and hardware facilities[37](index=37&type=chunk) [Analysis of Core Competencies](index=9&type=section&id=%E6%A0%B8%E5%BF%83%E7%AB%9E%E4%BA%89%E5%8A%9B%E5%88%86%E6%9E%90) During the reporting period, the company's core competencies continuously improved, primarily due to the maintenance and strengthening of its technological, scale, talent, and brand advantages; the management team and technical backbone remained stable and optimized, scientific and technological innovation and R&D system construction were continuously strengthened, and brand value and influence steadily increased - The company maintained its core competitive advantages in technology, scale, talent, and brand, with continuous enhancement of its core competencies[38](index=38&type=chunk) - The company's core management team, key technical personnel, and business backbone remained stable and were optimized and strengthened, with continuous reinforcement of scientific and technological innovation leadership and R&D system construction[39](index=39&type=chunk) - The company once again ranked among "China's 500 Most Valuable Brands," and its freezer products again won the top spot in the domestic freezer brand reputation list, continuously enhancing brand value and influence[39](index=39&type=chunk) [Key Operating Performance](index=9&type=section&id=%E4%B8%BB%E8%A6%81%E7%BB%8F%E8%90%A5%E6%83%85%E5%86%B5) This section details the company's key operating performance during the reporting period, including changes in financial statement items, asset and liability status, investment status, and major controlled and associate companies; both operating revenue and costs decreased, financial expenses significantly reduced, and net cash flow from operating activities turned negative; the asset and liability structure remained stable, with overseas assets accounting for **5.17%**; the company's new smart refrigerator (freezer) manufacturing plant project in Indonesia is progressing [Analysis of Changes in Financial Statement Items](index=9&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9B%B8%E5%85%B3%E7%A7%91%E7%9B%AE%E5%8F%98%E5%8A%A8%E5%88%86%E6%9E%90) During the reporting period, the company's operating revenue and cost of sales decreased year-on-year, while selling, general and administrative, and R&D expenses also reduced; financial expenses significantly decreased by **73.41%**, primarily due to increased exchange gains; net cash flow from operating activities turned from positive to negative, mainly because some government procurement projects had not yet reached their collection period Changes in Financial Statement Items | Item | Current Period (yuan) | Prior Period (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 4,057,157,427.71 | 4,622,295,200.79 | -12.23 | | Operating Cost | 3,493,184,708.63 | 4,011,850,724.89 | -12.93 | | Selling Expenses | 303,484,392.74 | 307,604,580.56 | -1.34 | | Administrative Expenses | 80,830,908.52 | 86,821,060.43 | -6.90 | | Financial Expenses | 5,006,826.26 | 18,826,471.99 | -73.41 | | R&D Expenses | 104,245,903.35 | 117,337,479.69 | -11.16 | | Net Cash Flow from Operating Activities | -165,877,017.63 | 27,616,894.16 | -700.64 | | Net Cash Flow from Investing Activities | 7,413,118.63 | -79,784,339.68 | Not applicable | | Net Cash Flow from Financing Activities | -60,158,785.76 | 170,682,432.41 | -135.25 | - The change in financial expenses was primarily due to increased exchange gains in the current period compared to the prior period[41](index=41&type=chunk) - The change in net cash flow from operating activities was mainly due to some government procurement projects not yet reaching their collection period in the current period[41](index=41&type=chunk) [Analysis of Assets and Liabilities](index=10&type=section&id=%E8%B5%84%E4%BA%A7%E3%80%81%E8%B4%9F%E5%80%BA%E6%83%85%E5%86%B5%E5%88%86%E6%9E%90) At the end of the reporting period, the company's total assets amounted to **8.112 billion yuan**, with net assets attributable to shareholders of the listed company at **2.476 billion yuan**; accounts receivable, prepayments, construction in progress, right-of-use assets, and development expenditures all showed significant growth, while other receivables, contract assets, taxes payable, long-term borrowings, and non-current liabilities due within one year experienced varying degrees of change; overseas assets accounted for **5.17%** of total assets Changes in Assets and Liabilities | Item Name | Current Period-end (yuan) | Proportion of Total Assets at Period-end (%) | Prior Year-end (yuan) | Proportion of Total Assets at Prior Year-end (%) | Change from Prior Year-end (%) | | :--- | :--- | :--- | :--- | :--- | :--- | | Accounts Receivable | 2,232,577,289.20 | 27.52 | 1,561,087,485.64 | 19.75 | 43.01 | | Prepayments | 444,383,369.38 | 5.48 | 336,459,149.49 | 4.26 | 32.08 | | Other Receivables | 116,057,897.24 | 1.43 | 252,620,606.07 | 3.20 | -54.06 | | Contract Assets | 39,586,910.71 | 0.49 | 59,561,517.03 | 0.75 | -33.54 | | Construction in Progress | 63,243,201.85 | 0.78 | 25,006,822.83 | 0.32 | 152.90 | | Right-of-Use Assets | 14,463,507.24 | 0.18 | 6,168,026.20 | 0.08 | 134.49 | | Development Expenditures | 13,589,454.65 | 0.17 | 9,349,535.36 | 0.12 | 45.35 | | Other Non-Current Assets | 97,901,197.21 | 1.21 | 69,465,332.50 | 0.88 | 40.94 | | Taxes Payable | 34,675,409.50 | 0.43 | 50,479,933.85 | 0.64 | -31.31 | | Non-Current Liabilities Due Within One Year | 403,413,662.73 | 4.97 | 134,964,435.38 | 1.71 | 198.90 | | Other Current Liabilities | 9,692,344.62 | 0.12 | 16,981,897.08 | 0.21 | -42.93 | | Long-Term Borrowings | 287,757,582.00 | 3.55 | 524,497,582.00 | 6.64 | -45.14 | | Lease Liabilities | 5,274,296.37 | 0.07 | 3,256,090.06 | 0.04 | 61.98 | | Special Reserves | 14,383,340.04 | 0.18 | 10,519,478.64 | 0.13 | 36.73 | - Overseas assets amounted to **419,086,873.87 yuan**, accounting for **5.17%** of total assets[45](index=45&type=chunk) Major Restricted Assets at Period-end | Item Name | Book Value at Period-end (yuan) | Restriction Status | | :--- | :--- | :--- | | Cash and Bank Balances | 158,378,162.05 | Deposits | | Cash and Bank Balances | 2,934,397.16 | Frozen Funds | | Fixed Assets | 53,256,344.28 | Financing Mortgage | | Intangible Assets | 58,930,783.64 | Financing Mortgage | | Total | 273,499,687.13 | / | [Analysis of Investment Status](index=11&type=section&id=%E6%8A%95%E8%B5%84%E7%8A%B6%E5%86%B5%E5%88%86%E6%9E%90) At the end of the reporting period, the company's long-term equity investments amounted to **171 million yuan**, a slight decrease from the end of the previous year; during the reporting period, the company approved a new smart refrigerator (freezer) manufacturing plant project in Indonesia with an annual capacity of **500,000 units**, involving a total investment of approximately **360 million RMB**, with subsidiary establishment and land acquisition now completed Overall Analysis of External Equity Investments | Item | December 31, 2024 (yuan) | Change (yuan) | June 30, 2025 (yuan) | | :--- | :--- | :--- | :--- | | Long-Term Equity Investments | 174,621,179.10 | -3,141,695.06 | 171,479,484.04 | - The company is building a new smart refrigerator (freezer) manufacturing plant in Indonesia with an annual capacity of **500,000 units**, involving a total investment of approximately **360 million RMB**, and has completed the establishment of a new subsidiary and land acquisition[49](index=49&type=chunk) [Analysis of Major Controlled and Associate Companies](index=13&type=section&id=%E4%B8%BB%E8%A6%81%E6%8E%A7%E8%82%A1%E5%8F%82%E8%82%A1%E5%85%AC%E5%8F%B8%E5%88%86%E6%9E%90) The company's major controlled subsidiaries cover various fields, including kitchen and bathroom appliances, air conditioning and washing industries, biomedical, smart home, refrigerated special vehicles, supermarket convenience equipment, and park management; among them, Qingdao Aokema Living Appliances Co., Ltd., Qingdao Aokema Environmental Technology Co., Ltd., and Qingdao Aokema Smart Home Co., Ltd. all reported operating and net profit losses during the reporting period Operating Performance of Major Subsidiaries (H1 2025) | Company Name | Main Business | Registered Capital (10,000 yuan) | Total Assets (10,000 yuan) | Net Assets (10,000 yuan) | Operating Revenue (10,000 yuan) | Operating Profit (10,000 yuan) | Net Profit (10,000 yuan) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Qingdao Aokema Living Appliances Co., Ltd. | Operation of kitchen and bathroom appliances and small household appliances industries | 5,000 | 28,712.48 | 8,839.28 | 16,051.68 | -818.56 | -547.53 | | Qingdao Aokema Environmental Technology Co., Ltd. | Operation of air conditioning and washing industries | 11,000 | 49,940.25 | 8,305.98 | 27,156.37 | -732.67 | -491.08 | | Qingdao Aokema Biomedical Co., Ltd. | Operation of ultra-low temperature, biomedical equipment, and laboratory pre-processing equipment industries | 5,000 | 23,673.70 | 8,116.80 | 5,878.44 | 2.30 | 61.39 | | Qingdao Aokema Smart Home Co., Ltd. | Operation of the overall smart home industry | 5,000 | 16,866.68 | 558.88 | 2,035.29 | -655.99 | -463.70 | | Henan Aokema Special Purpose Vehicle Co., Ltd. | Operation of refrigerated special purpose vehicle and other industries | 6,000 | 8,665.88 | 5,783.59 | 5,862.62 | 16.91 | 27.91 | | Qingdao Aokema Cold Chain Integration Co., Ltd. | Operation of supermarket convenience equipment, kitchen refrigerators, and cold storage industries | 5,000 | 22,495.72 | -286.55 | 9,158.78 | 378.64 | 389.26 | | Qingdao Aokema Smart Industry Co., Ltd. | Park management services, non-residential property leasing, etc. | 26,600 | 36,601.87 | 30,255.76 | 959.85 | 114.17 | 87.17 | [Potential Risks](index=14&type=section&id=%E5%8F%AF%E8%83%BD%E9%9D%A2%E5%AF%B9%E7%9A%84%E9%A3%8E%E9%99%A9) The company faces multiple risks, including macroeconomic environment, market competition, cost and exchange rate fluctuations, human resources, credit, and tariff trade barriers; the company will actively respond by adjusting operating strategies, strengthening product innovation, optimizing the supply chain, enhancing talent acquisition, and reinforcing risk management - Macroeconomic environment risk: The macroeconomic operation faces challenges, and the slowdown in the real estate market may lead to insufficient customer consumption momentum[52](index=52&type=chunk) - Market competition risk: The home appliance industry has entered a mature competition phase, with severe product homogenization and intensified price competition among leading enterprises[52](index=52&type=chunk) - Cost and exchange rate fluctuation risk: Fluctuations in raw material prices and significant exchange rate fluctuations in overseas business may affect the company's profitability[53](index=53&type=chunk) - Human resource risk: The popularization of new technologies places higher demands on talent, requiring the company to improve its human resource management and incentive mechanisms[53](index=53&type=chunk) - Credit risk: Primarily customer credit risk associated with accounts receivable; the company will strengthen control over these two types of funds[54](index=54&type=chunk) - Tariff and trade barrier risk: Trade barriers imposed by some countries or regions may adversely affect export business[54](index=54&type=chunk) [Section IV Corporate Governance, Environment and Society](index=15&type=section&id=%E7%AC%AC%E5%9B%9B%E8%8A%82%20%E5%85%AC%E5%8F%B8%E6%B2%BB%E7%90%86%E3%80%81%E7%8E%AF%E5%A2%83%E5%92%8C%E7%A4%BE%E4%BC%9A) This section outlines the company's profit distribution plan and its commitment to corporate governance, environmental responsibility, and social contributions [Profit Distribution or Capital Reserve Conversion Plan](index=15&type=section&id=%E5%88%A9%E6%B6%A6%E5%88%86%E9%85%8D%E6%88%96%E8%B5%84%E6%9C%AC%E5%85%AC%E7%A7%AF%E9%87%91%E8%BD%AC%E5%A2%9E%E9%A2%84%E6%A1%88) The company's proposed semi-annual profit distribution plan is to distribute a cash dividend of **0.10 yuan** (tax inclusive) per 10 shares to all shareholders, with no bonus shares or capital reserve conversion, which complies with the company's articles of association and protects the interests of small and medium investors Semi-Annual Profit Distribution Plan | Metric | Value | | :--- | :--- | | Whether to distribute or convert | Yes | | Number of bonus shares per 10 shares (shares) | 0 | | Dividend per 10 shares (yuan) (tax inclusive) | 0.10 | | Number of shares converted from capital reserve per 10 shares (shares) | 0 | - This profit distribution plan complies with the company's articles of association and relevant review procedures, fully protecting the legitimate rights and interests of small and medium investors[57](index=57&type=chunk) [Section V Significant Matters](index=16&type=section&id=%E7%AC%AC%E4%BA%94%E8%8A%82%20%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) This section details the company's fulfillment of commitments, significant related-party transactions, and major guarantees during the reporting period [Fulfillment of Commitments](index=16&type=section&id=%E6%89%BF%E8%AF%BA%E4%BA%8B%E9%A1%B9%E5%B1%A5%E8%A1%8C%E6%83%85%E5%86%B5) Qingdao Aokema Holding Group Co., Ltd., the company's controlling shareholder, and its affiliate Qingdao Haifa State-owned Capital Investment and Operation Group Co., Ltd. strictly fulfilled all commitments made in the acquisition report or equity change report regarding independence, avoidance of horizontal competition, and related-party transactions during the reporting period - Qingdao Aokema Holding Group Co., Ltd., the company's controlling shareholder, and its affiliate Qingdao Haifa State-owned Capital Investment and Operation Group Co., Ltd. strictly fulfilled all commitments made in the acquisition report or equity change report regarding independence, avoidance of horizontal competition, and related-party transactions during the reporting period[60](index=60&type=chunk)[61](index=61&type=chunk) [Significant Related-Party Transactions](index=18&type=section&id=%E9%87%8D%E5%A4%A7%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) During the reporting period, the company engaged in daily operating related-party transactions with multiple affiliates, including material procurement, commodity sales, digital project development services, and factory leasing, with all transaction amounts within approved limits; additionally, a subsidiary of the controlling shareholder entrusted **60%** equity of Fuyang Yingtian Intelligent Technology Co., Ltd. to the company's controlled subsidiary to avoid horizontal competition - The company conducted material procurement with Aokema (Yinan) New Energy Electric Vehicle Co., Ltd., Aokema (Linyi) Electronic Technology Co., Ltd., and Qingdao Aoxi Intelligent Technology Co., Ltd., with transaction amounts of **6.2207 million yuan**, **635,200 yuan**, and **2.7285 million yuan**, respectively[65](index=65&type=chunk) - The company conducted material sales and commodity procurement with Fuyang Yingtian Intelligent Technology Co., Ltd., with transaction amounts of **15,700 yuan** and **174.7706 million yuan**, respectively[65](index=65&type=chunk) - Qingdao Aokema Refrigeration Development Co., Ltd., a subsidiary of the controlling shareholder, entrusted **60%** equity of Fuyang Yingtian Intelligent Technology Co., Ltd. to the company's controlled subsidiary, Qingdao Aokema Environmental Technology Co., Ltd., for management to avoid horizontal competition[67](index=67&type=chunk) [Significant Guarantees](index=21&type=section&id=%E9%87%8D%E5%A4%A7%E6%8B%85%E4%BF%9D%E6%83%85%E5%86%B5) During the reporting period, the company did not provide external guarantees (excluding guarantees to subsidiaries); the total amount of guarantees to subsidiaries was **623.0157 million yuan**, with a period-end balance of **720.1088 million yuan**, accounting for **29.08%** of the company's net assets; among these, debt guarantees provided to entities with an asset-liability ratio exceeding **70%** amounted to **709.4088 million yuan** Total Guarantees of the Company | Metric | Amount (10,000 yuan) | | :--- | :--- | | Total guarantees to subsidiaries during the reporting period | 62,301.57 | | Total guarantees to subsidiaries at period-end (B) | 72,010.88 | | Total guarantees (A+B) | 72,010.88 | | Proportion of total guarantees to company's net assets (%) | 29.08 | | Amount of guarantees provided to shareholders, actual controllers, and their affiliates (C) | 0.00 | | Amount of debt guarantees directly or indirectly provided to guaranteed entities with an asset-liability ratio exceeding 70% (D) | 70,940.88 | | Amount of total guarantees exceeding 50% of net assets (E) | 0.00 | | Total of the above three guarantee amounts (C+D+E) | 70,940.88 | - The balance of financing lease repurchase obligations undertaken by the company's controlled subsidiaries was **1.5342 million yuan**; the balance of difference make-up obligations undertaken for customers in supply chain business was **37.5806 million yuan**[70](index=70&type=chunk) [Section VI Share Changes and Shareholder Information](index=22&type=section&id=%E7%AC%AC%E5%85%AD%E8%8A%82%20%E8%82%A1%E4%BB%BD%E5%8F%98%E5%8A%A8%E5%8F%8A%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) This section details the company's share capital changes and shareholder structure during the reporting period [Share Capital Changes](index=22&type=section&id=%E8%82%A1%E6%9C%AC%E5%8F%98%E5%8A%A8%E6%83%85%E5%86%B5) During the reporting period, the company's total share capital and equity structure remained unchanged, with a total share capital of **798,014,769 shares** - During the reporting period, the company's total share capital and equity structure remained unchanged[72](index=72&type=chunk) [Shareholder Information](index=22&type=section&id=%E8%82%A1%E4%B8%9C%E6%83%85%E5%86%B5) As of the end of the reporting period, the company had **52,625** common shareholders; the top three shareholders were Qingdao Aokema Holding Group Co., Ltd. (holding **23.03%**), Qingdao Enterprise Development Investment Co., Ltd. (holding **15.61%**), and Qingdao Chengtou Chengjin Holding Group Co., Ltd. (holding **4.24%**); Qingdao Enterprise Development Investment Co., Ltd. has entrusted the voting rights of **55,143,646 shares** (accounting for **6.91%** of the company's total share capital) to Qingdao Aokema Holding Group Co., Ltd., making its voting rights proportion **29.94%** and establishing it as the controlling shareholder Total Number of Common Shareholders at Period-end | Metric | Number | | :--- | :--- | | Total common shareholders (households) | 52,625 | Top Ten Shareholders' Shareholding | Shareholder Name | Shares Held at Period-end (shares) | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | Qingdao Aokema Holding Group Co., Ltd. | 183,812,152 | 23.03 | State-owned Legal Person | | Qingdao Enterprise Development Investment Co., Ltd. | 124,605,073 | 15.61 | State-owned Legal Person | | Qingdao Chengtou Chengjin Holding Group Co., Ltd. | 33,801,061 | 4.24 | State-owned Legal Person | - Qingdao Enterprise Development Investment Co., Ltd. has fully entrusted the voting rights of **55,143,646 shares** (accounting for **6.91%** of the company's total share capital) to Aokema Holding Group Co., Ltd. for exercise. Consequently, Aokema Holding Group holds **29.94%** of the company's voting rights, making it the controlling shareholder[76](index=76&type=chunk) [Section VII Bond-Related Information](index=24&type=section&id=%E7%AC%AC%E4%B8%83%E8%8A%82%20%E5%80%BA%E5%88%B8%E7%9B%B8%E5%85%B3%E6%83%85%E5%86%B5) This section provides information regarding the company's bond-related matters [Section VIII Financial Report](index=25&type=section&id=%E7%AC%AC%E5%85%AB%E8%8A%82%20%E8%B4%A2%E5%8A%A1%E6%8A%A5%E5%91%8A) This section presents the company's comprehensive financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in owners' equity, along with detailed notes on accounting policies and financial items [Financial Statements](index=25&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity for the first half of 2025, comprehensively presenting the financial position at the end of the reporting period and the operating results and cash flows for the first half [Consolidated Balance Sheet](index=25&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of June 30, 2025, the company's consolidated total assets amounted to **8.112 billion yuan**, with current assets of **5.302 billion yuan** and non-current assets of **2.810 billion yuan**; total liabilities were **5.426 billion yuan**, and total owners' equity was **2.685 billion yuan**; compared to the end of the previous year, both total assets and net assets attributable to the parent company increased Key Data from Consolidated Balance Sheet | Item | June 30, 2025 (yuan) | December 31, 2024 (yuan) | | :--- | :--- | :--- | | Total Assets | 8,111,567,953.93 | 7,903,714,439.89 | | Total Current Assets | 5,301,894,485.64 | 5,133,105,948.86 | | Total Non-Current Assets | 2,809,673,468.29 | 2,770,608,491.03 | | Total Liabilities | 5,426,129,096.70 | 5,250,070,796.53 | | Total Owners' Equity | 2,685,438,857.23 | 2,653,643,643.36 | | Total Owners' Equity Attributable to Parent Company | 2,475,938,541.84 | 2,440,805,705.67 | [Consolidated Income Statement](index=29&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) In the first half of 2025, the company achieved total operating revenue of **4.057 billion yuan**, a year-on-year decrease of **12.23%**; total operating costs were **4.008 billion yuan**, total profit was **39.5801 million yuan**, and net profit was **34.5171 million yuan**; net profit attributable to parent company shareholders was **37.8547 million yuan**, a year-on-year decrease of **24.36%** Key Data from Consolidated Income Statement | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 4,057,157,427.71 | 4,622,295,200.79 | | Total Operating Costs | 4,007,791,025.11 | 4,565,055,119.20 | | Total Profit | 39,580,133.82 | 47,652,010.26 | | Net Profit | 34,517,071.31 | 51,364,469.24 | | Net Profit Attributable to Parent Company Shareholders | 37,854,693.61 | 50,048,865.15 | | Basic Earnings Per Share (yuan/share) | 0.0474 | 0.0627 | [Consolidated Cash Flow Statement](index=33&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) In the first half of 2025, the company's net cash flow from operating activities was **-166 million yuan**, a significant decrease of **700.64%** from the prior year; net cash flow from investing activities was **7.4131 million yuan**, turning from negative to positive; net cash flow from financing activities was **-60.1588 million yuan**, a year-on-year decrease of **135.25%** Key Data from Consolidated Cash Flow Statement | Item | H1 2025 (yuan) | H1 2024 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -165,877,017.63 | 27,616,894.16 | | Net Cash Flow from Investing Activities | 7,413,118.63 | -79,784,339.68 | | Net Cash Flow from Financing Activities | -60,158,785.76 | 170,682,432.41 | | Net Increase in Cash and Cash Equivalents | -213,024,043.03 | 117,640,612.01 | [Company Overview](index=45&type=section&id=%E5%85%AC%E5%8F%B8%E5%9F%BA%E6%9C%AC%E6%83%85%E5%86%B5) Aokema Co., Ltd. was established in 1998 and listed on the Shanghai Stock Exchange in 2000; the company's registered capital, after multiple equity changes, was finally determined to be **798,014,769 yuan**; its main business involves R&D, manufacturing, and sales of full cold chain products, including household and commercial cold chains, and providing full-scenario smart home solutions - Aokema Co., Ltd. was established in December 1998 and listed on the Shanghai Stock Exchange on December 29, 2000, with stock code "600336"[111](index=111&type=chunk) - The company's registered capital was finally determined to be **798,014,769 yuan**[115](index=115&type=chunk) - The company primarily engages in R&D, manufacturing, and sales of full cold chain products, including household cold chain, commercial cold chain, cold storage, cold chain transportation, automated retail, and biomedical sectors, and provides full-scenario smart home solutions[115](index=115&type=chunk) [Basis of Financial Statement Preparation](index=46&type=section&id=%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E7%9A%84%E7%BC%96%E5%88%B6%E5%9F%BA%E7%A1%80) These financial statements are prepared in accordance with the Enterprise Accounting Standards issued by the Ministry of Finance and relevant regulations of the China Securities Regulatory Commission, and on a going concern basis - These financial statements are prepared in accordance with the "Enterprise Accounting Standards" issued by the Ministry of Finance and the relevant provisions of the China Securities Regulatory Commission's "Reporting Rules for Information Disclosure by Companies Issuing Securities to the Public No. 15 – General Provisions for Financial Reports"[116](index=116&type=chunk) - These financial statements are prepared on a going concern basis[117](index=117&type=chunk) [Significant Accounting Policies and Estimates](index=46&type=section&id=%E9%87%8D%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%94%BF%E7%AD%96%E5%8F%8A%E4%BC%9A%E8%AE%A1%E4%BC%B0%E8%AE%A1) This section details the company's specific accounting policies and estimates for financial instruments, inventories, revenue recognition, long-term equity investments, fixed assets, intangible assets, employee compensation, government grants, and deferred income tax, and explains the impact of accounting policy changes on financial statement items during the reporting period - The company classifies financial assets into three categories based on the business model for managing financial assets and the contractual cash flow characteristics: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in current profit or loss[137](index=137&type=chunk) - The company recognizes revenue when it satisfies a performance obligation in a contract, which is when the customer obtains control of the related goods or services[191](index=191&type=chunk) - The Ministry of Finance issued "Interpretation No. 18 of Enterprise Accounting Standards" on December 6, 2024, leading the company to make corresponding changes to its original accounting policies and retrospectively adjust financial statement items such as "operating costs" and "selling expenses"[210](index=210&type=chunk) Impact of Accounting Policy Changes on H1 2024 Income Statement Items | Affected Statement Item | H1 2024 (Consolidated) Adjustment (yuan) | H1 2024 (Parent Company) Adjustment (yuan) | | :--- | :--- | :--- | | Operating Cost | 32,393,003.80 | 17,956,750.94 | | Selling Expenses | -32,393,003.80 | -17,956,750.94 | [Taxation](index=67&type=section&id=%E7%A8%8E%E9%A1%B9) The company's main taxes include value-added tax, urban maintenance and construction tax, enterprise income tax, education surcharge, and local education surcharge; the parent company and some subsidiaries enjoy a **15%** preferential enterprise income tax rate as high-tech enterprises, while other subsidiaries apply a **25%** income tax rate or a **20%** rate for small and micro enterprises; overseas operating entities follow the tax policies of their registration locations Main Tax Categories and Rates | Tax Category | Taxable Basis | Tax Rate | | :--- | :--- | :--- | | Value-Added Tax | Sales of goods and taxable services revenue | 3%, 5%, 6%, 9%, 13% | | Urban Maintenance and Construction Tax | Actual VAT and consumption tax paid | 5%, 7% | | Enterprise Income Tax | Taxable income | 15%, 20%, 25% | | Education Surcharge | Amount of turnover tax payable | 3% | | Local Education Surcharge | Amount of turnover tax payable | 2% | - The parent company and some subsidiaries (e.g., Qingdao Aokema Vending Machine Co., Ltd., Qingdao Aokema Biomedical Co., Ltd.) are high-tech enterprises and enjoy a **15%** preferential enterprise income tax policy for 2025[214](index=214&type=chunk) - Overseas operating entities (e.g., Aokema (Hong Kong) Trading Co., Ltd., Aokema (Indonesia) Electrical Appliances Co., Ltd.) implement the tax policies of their respective registration locations[215](index=215&type=chunk) [Notes to Consolidated Financial Statement Items](index=68&type=section&id=%E5%90%88%E5%B9%B6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8%E9%A1%B9%E7%9B%AE%E6%B3%A8%E9%87%8A) This section details the period-end balances, beginning balances, and current period changes for each item in the consolidated financial statements, including cash and bank balances, notes receivable, accounts receivable, contract assets, inventories, long-term equity investments, fixed assets, construction in progress, intangible assets, short-term borrowings, notes payable, contract liabilities, employee compensation payable, operating revenue and costs, financial expenses, and investment income, with explanations for significant changes Cash and Bank Balances | Item | Period-end Balance (yuan) | Beginning Balance (yuan) | | :--- | :--- | :--- | | Cash on hand | 10,254.50 | 25,723.56 | | Bank deposits | 464,119,163.54 | 668,243,258.75 | | Other cash and bank balances | 263,444,138.22 | 245,713,839.50 | | Total | 727,573,556.26 | 913,982,821.81 | | Of which: Total funds deposited overseas | 35,172,320.43 | 20,576,540.69 | Operating Revenue and Operating Cost | Item | Current Period Revenue (yuan) | Current Period Cost (yuan) | Prior Period Revenue (yuan) | Prior Period Cost (yuan) | | :--- | :--- | :--- | :--- | :--- | | Main Business | 3,982,313,175.64 | 3,436,831,921.46 | 4,360,262,737.62 | 3,782,690,664.00 | | Other Business | 74,844,252.07 | 56,352,787.17 | 262,032,463.17 | 229,160,060.89 | | Total | 4,057,157,427.71 | 3,493,184,708.63 | 4,622,295,200.79 | 4,011,850,724.89 | Financial Expenses | Item | Current Period (yuan) | Prior Period (yuan) | | :--- | :--- | :--- | | Interest expense | 16,750,424.24 | 26,748,949.04 | | Interest income | -5,856,624.21 | -15,503,812.74 | | Exchange gains/losses | -7,970,106.49 | 4,786,059.63 | | Other | 2,083,132.72 | 2,795,276.06 | | Total | 5,006,826.26 | 18,826,471.99 | [R&D Expenditures](index=113&type=section&id=%E7%A0%94%E5%8F%91%E6%94%AF%E5%87%BA) During the reporting period, the company's total R&D expenditures amounted to **108 million yuan**, of which **104 million yuan** was expensed R&D and **4.2399 million yuan** was capitalized R&D; capitalized R&D projects primarily consisted of projects under development, with a period-end balance of **13.5895 million yuan** R&D Expenditures | Item | Current Period (yuan) | Prior Period (yuan) | | :--- | :--- | :--- | | R&D Expenditures | 108,485,822.64 | 119,427,416.65 | | Of which: Expensed R&D expenditures | 104,245,903.35 | 117,337,479.69 | | Capitalized R&D expenditures | 4,239,919.29 | 2,089,936.96 | Development Expenditures for Capitalized R&D Projects | Item | Beginning Balance (yuan) | Current Period Increase in Internal Development Expenditures (yuan) | Current Period Increase in Other (yuan) | Period-end Balance (yuan) | | :--- | :--- | :--- | :--- | :--- | | Projects under development | 9,349,535.36 | 2,824,824.95 | 1,415,094.34 | 13,589,454.65 | [Changes in Consolidation Scope](index=113&type=section&id=%E5%90%88%E5%B9%B6%E8%8C%83%E5%9B%B4%E7%9A%84%E5%8F%98%E6%9B%B4) During the reporting period, the company added a new subsidiary, Aokema (Indonesia) Industrial Co., Ltd., with period-end net assets of **67,469.86 yuan** and current period net profit of **52,041.52 yuan** New Subsidiaries in Current Period | Company Name | Type | Period-end Net Assets (yuan) | Current Period Net Profit (yuan) | | :--- | :--- | :--- | :--- | | Aokema (Indonesia) Industrial Co., Ltd. | Newly established | 67,469.86 | 52,041.52 | [Interests in Other Entities](index=114&type=section&id=%E5%9C%A8%E5%85%B6%E4%BB%96%E4%B8%BB%E4%BD%93%E4%B8%AD%E7%9A%84%E6%9D%83%E7%9B%8A) This section discloses the company's interests in subsidiaries, joint ventures, and associates; the company owns multiple wholly-owned or controlled subsidiaries covering sales, manufacturing, and R&D; the minority shareholder's equity in the significant non-wholly-owned subsidiary, Qingdao Aokema Smart Industry Co., Ltd., is **45%**; the company accounts for associates such as Shanghai Quanxiang Investment Center using the equity method - The company owns multiple wholly-owned or controlled subsidiaries, including Qingdao Aokema Business Co., Ltd., Qingdao Aokema Cold Chain Integration Co., Ltd., and Qingdao Aokema Biomedical Co., Ltd[398](index=398&type=chunk)[399](index=399&type=chunk) Significant Non-Wholly-Owned Subsidiaries | Subsidiary Name | Minority Shareholding Proportion (%) | Profit/Loss Attributable to Minority Shareholders in Current Period (yuan) | Period-end Minority Interest Balance (yuan) | | :--- | :--- | :--- | :--- | | Qingdao Aokema Smart Industry Co., Ltd. | 45 | 392,274.17 | 136,150,898.24 | - The company accounts for associates such as Shanghai Quanxiang Investment Center (Limited Partnership), Qingdao Gaocreat Aohai Venture Capital Enterprise (Limited Partnership), and Qingdao Aokema Financial Leasing Co., Ltd. using the equity method[407](index=407&type=chunk) [Government Grants](index=119&type=section&id=%E6%94%BF%E5%BA%9C%E8%A1%A5%E5%8A%A9) At the end of the reporting period, government grants recognized by the company based on receivables amounted to **15.194 million yuan**; the total government grants recognized in current profit or loss for the period were **29.0151 million yuan**, with **5.6501 million yuan** related to assets and **23.3649 million yuan** related to income - At the end of the reporting period, the period-end balance of receivables was **15,194,043.35 yuan**[412](index=412&type=chunk) Government Grants Recognized in Current Profit or Loss | Type | Current Period (yuan) | Prior Period (yuan) | | :--- | :--- | :--- | | Asset-related | 5,650,134.85 | 7,266,141.87 | | Income-related | 23,364,967.86 | 20,781,084.00 | | Total | 29,015,102.71 | 28,047,225.87 | [Related Parties and Related-Party Transactions](index=121&type=section&id=%E5%85%B3%E8%81%94%E6%96%B9%E5%8F%8A%E5%85%B3%E8%81%94%E4%BA%A4%E6%98%93) The company's controlling shareholder is Qingdao Aokema Holding Group Co., Ltd., with the ultimate controlling party being the Qingdao Municipal People's Government State-owned Assets Supervision and Administration Commission; during the reporting period, the company engaged in daily related-party transactions with multiple affiliates, including purchasing and selling goods, providing and receiving services, and related-party leasing, and disclosed the status of receivables from and payables to related parties - The company's controlling shareholder is Qingdao Aokema Holding Group Co., Ltd., and the ultimate controlling party is the Qingdao Municipal People's Government State-owned Assets Supervision and Administration Commission[417](index=417&type=chunk) Table of Goods Purchased/Services Received | Related Party | Related-Party Transaction Content | Current Period (yuan) | Approved Transaction Limit (yuan) | | :--- | :--- | :--- | :--- | | Aokema (Yinan) New Energy Electric Vehicle Co., Ltd. | Purchase of materials | 6,220,706.02 | 20,000,000.00 | | Qingdao Aohui Cold Cloud IoT Technology Co., Ltd. | Software and services | 393,024.00 | 30,000,000.00 | | Fuyang Yingtian Intelligent Technology Co., Ltd. | Purchase of goods, etc. | 174,770,564.98 | 800,000,000.00 | Table of Goods Sold/Services Provided | Related Party | Related-Party Transaction Content | Current Period (yuan) | | :--- | :--- | :--- | | Aokema (Linyi) Electronic Technology Co., Ltd. | Sale of goods | 5,276.30 | | Fuyang Yingtian Intelligent Technology Co., Ltd. | Sale of goods | 15,725.00 | | Shanghai Quanxiang Investment Center (Limited Partnership) | Interest income | 276,758.85 | Receivables from Related Parties | Item Name | Related Party | Period-end Book Balance (yuan) | | :--- | :--- | :--- | | Other Receivables | Qingdao Haixuan International Talent Science and Technology Park Co., Ltd. | 80,405,209.49 | | Prepayments | Fuyang Yingtian Intelligent Technology Co., Ltd. | 17,743,373.10 | [Events After the Balance Sheet Date](index=128&type=section&id=%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8%E6%97%A5%E5%90%8E%E4%BA%8B%E9%A1%B9) The company plans to distribute profits or dividends of **7,980,147.69 yuan**, which is a significant non-adjusting event after the balance sheet date Profit Distribution | Item | Amount (yuan) | | :--- | :--- | | Proposed profit or dividend distribution | 7,980,147.69 | [Other Significant Matters](index=128&type=section&id=%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) As of June 30, 2025, the balance of financing lease repurchase obligations undertaken by the company's controlled subsidiaries was **1.5342 million yuan**, and the balance of difference make-up obligations undertaken for customers in supply chain business was **37.5806 million yuan** - As of June 30, 2025, the balance of financing lease repurchase obligations undertaken by the company's controlled subsidiaries was **1.5342 million yuan**[436](index=436&type=chunk) - The balance of difference make-up obligations undertaken for customers in supply chain business was **37.5806 million yuan**[436](index=436&type=chunk) [Supplementary Information](index=138&type=section&id=%E8%A1%A5%E5%85%85%E8%B5%84%E6%96%99) This section provides supplementary information, including a detailed statement of non-recurring gains and losses, return on net assets, and earnings per share; total non-recurring gains and losses for the reporting period amounted to **1.7029 million yuan**; the weighted average return on net assets attributable to common shareholders was **1.54%**, and basic earnings per share was **0.0474 yuan/share** Detailed Statement of Non-Recurring Gains and Losses for the Current Period | Item | Amount (yuan) | | :--- | :--- | | Gains/losses on disposal of non-current assets | -3,234.49 | | Government grants recognized in current profit/loss | 1,865,800.00 | | Fund occupation fees collected from non-financial enterprises recognized in current profit/loss | 164,008.08 | | Other non-operating income and expenses apart from the above | 202,137.23 | | Less: Income tax impact | 302,479.76 | | Impact on minority interests (after tax) | 223,321.40 | | Total | 1,702,909.66 | Return on Net Assets and Earnings Per Share | Profit for the Reporting Period | Weighted Average Return on Net Assets (%) | Basic Earnings Per Share (yuan) | Diluted Earnings Per Share (yuan) | | :--- | :--- | :--- | :--- | | Net profit attributable to common shareholders of the company | 1.54 | 0.0474 | 0.0474 | | Net profit attributable to common shareholders of the company after deducting non-recurring gains and losses | 1.47 | 0.0453 | 0.0453 |

证券代码：600336 证券简称：澳柯玛 编号：临 2025－032 澳柯玛股份有限公司 关于计提资产减值准备的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2025 年 8 月 22 日，澳柯玛股份有限公司（以下简称"公司"）召开九届十六次董事 会、九届八次监事会，审议通过了《关于计提资产减值准备的议案》，根据《企业会计 准则》和公司会计政策的相关规定，2025 年半年度公司计提各类资产减值准备共计 38,463,499.28 元。具体如下： 一、本次计提资产减值准备情况概述 根据《企业会计准则》和公司会计政策的相关规定，为客观、公允地反映公司 2025 年半年度的财务状况和经营成果，公司及下属子公司对截至 2025 年 6 月 30 日的公司资 产进行了充分的评估和分析，本着谨慎性原则，对相关资产进行了减值测试并计提了相 应的资产减值准备。2025 年半年度公司计提各类资产减值准备共计 38,463,499.28 元， 具体如下： | | | | 序号 | 项目 | 计提金额 | 备注 | | --- | --- ...

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, despite significant growth in overseas markets and self-owned brand revenue [1] Financial Performance - The company achieved operating revenue of 4.057 billion yuan, a year-on-year decrease of 12.23% [1] - The net profit attributable to shareholders was 37.8547 million yuan, down 24.36% year-on-year [1] - Basic earnings per share were 0.0474 yuan [1] Dividend Distribution - The company proposed a cash dividend of 0.1 yuan per 10 shares (tax included) [1] Market Performance - Overseas air conditioning and washing machine sales grew by 94% and 349% respectively [1] - Revenue and profit growth in key Latin American markets, such as Mexico, exceeded 100% [1] - Revenue from self-owned brands increased by 63% [1]

证券代码：600336 证券简称：澳柯玛 编号：临 2025-031 会议经审议，通过如下决议： 澳柯玛股份有限公司九届八次监事会决议公告 特此公告。 本公司监事会及全体监事保证本公告内容不存在任何虚假记载、误导性 陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 澳柯玛股份有限公司 澳柯玛股份有限公司九届八次监事会于 2025 年 8 月 22 日召开，本次会 议以通讯方式通知、召开和表决，应参与表决监事 5 人，实际参与表决监 事 5 人，本次会议由公司监事会主席主持，符合有关法律、行政法规、部 门规章、规范性文件及公司章程的规定。 2025 年 8 月 23 日 一、审议通过《关于公司 2025 年半年度报告及摘要的议案》，5 票同意， 0 票反对，0 票弃权。 二、审议通过《关于计提资产减值准备的议案》，5 票同意，0 票反对， 0 票弃权。 公司 2025 年半年度计提各类资产减值准备共计 38,463,499.28 元，本 次计提资产减值准备基于谨慎性原则，符合《企业会计准则》和公司会计 政策等相关规定。因此，监事会对公司本次计提资产减值准备事项无异议。 ...

证券代码：600336 证券简称：澳柯玛 编号：临 2025－030 具体详见公司同日发布的《澳柯玛股份有限公司关于公司 2025 年半年度利润分配 方案的公告》（公告编号：临 2025-033）。 澳柯玛股份有限公司九届十六次董事会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 澳柯玛股份有限公司九届十六次董事会于 2025 年 8 月 22 日召开，本次会议以通讯 方式通知、召开和表决，应参与表决董事 9 人，实际参与表决董事 9 人，本次会议由公 司董事长主持，符合有关法律、行政法规、部门规章、规范性文件和公司章程的规定。 会议经审议，通过如下决议： 第一项、审议通过《关于公司 2025 年半年度报告及摘要的议案》，9 票同意，0 票 反对，0 票弃权。 本议案已经公司董事会审计委员会审议并全体通过。 第二项、审议通过《关于计提资产减值准备的议案》，9 票同意，0 票反对，0 票弃 权。 本议案已经公司董事会审计委员会审议并全体通过。 具体详见公司同日发布的《澳柯玛股份有限公司关于计提资产减值准备的公告》（公 ...

证券代码：600336 证券简称：澳柯玛 编号：临 2025－033 澳柯玛股份有限公司 关于公司 2025 年半年度利润分配方案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重 大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 ● 每股分配比例：A 股每股派发现金红利 0.01 元（含税）。 ● 本次利润分配以实施权益分派股权登记日登记的总股本为基数，具体日期将在 权益分派实施公告中明确。在实施权益分派的股权登记日前公司总股本发生变动的，拟 维持每股分配比例不变，相应调整分配总额，并将在相关公告中披露。 ● 本次利润分配方案尚需提交公司股东大会审议。 一、利润分配方案内容 公司 2025 年上半年实现归属于母公司股东的净利润（合并口径）为人民币 37,854,693.61 元，截至 2025 年 6 月 30 日，公司母公司报表中期末未分配利润为人民 币 697,767,711.93 元。公司 2025 年半年度拟以实施权益分派股权登记日登记的总股本 为基数分配利润。本次利润分配方案如下： 公司拟向全体股东每股派发现金红利 0.01 元（含税），不转增股本，不送红股。 ...

澳柯玛股份有限公司 信息披露暂缓与豁免业务内部管理制度 （2025 年修订） 第一条 为了规范澳柯玛股份有限公司（以下简称"公司"）信息披露 暂缓、豁免行为，明确信息披露暂缓、豁免事项的内部审核程序，督促公 司及相关信息披露义务人依法合规履行信息披露义务，保护投资者的合法 权益，根据《中华人民共和国证券法》、《上市公司信息披露暂缓与豁免 管理规定》、《上海证券交易所股票上市规则》、《澳柯玛股份有限公司 信息披露管理制度》等规定，特制定本制度。 第二条 公司和其他信息披露义务人暂缓、豁免披露临时报告，在定期 报告、临时报告中豁免披露中国证券监督管理委员会和上海证券交易所规 定或者要求披露的内容，适用本制度。 第三条 公司和其他信息披露义务人应当真实、准确、完整、及时、公 平地披露信息，不得滥用暂缓或者豁免披露规避信息披露义务、误导投资 者，不得实施内幕交易、操纵市场等违法行为。 第八条 公司拟披露的定期报告中有关信息涉及国家秘密、商业秘密 的，可以采用代称、汇总概括或者隐去关键信息等方式豁免披露该部分信 息。 公司和其他信息披露义务人拟披露的临时报告中有关信息涉及国家秘 密、商业秘密的，可以采用代称、汇总概括或 ...