Financial Performance - In 2020, Whirlpool (China) Co., Ltd. reported a net profit of -149,701,660.11 CNY, an improvement of 53.63% compared to the previous year's loss of -322,839,167.01 CNY[6]. - The company's operating revenue for 2020 was 4,944,067,835.28 CNY, representing a decrease of 6.39% from 5,281,658,055.31 CNY in 2019[25]. - The net cash flow from operating activities was -794,260,315.40 CNY, a significant decline compared to -109,448,371.36 CNY in 2019, marking a decrease of 625.69%[25]. - As of the end of 2020, the total assets amounted to 7,013,158,653.76 CNY, down 7.51% from 7,582,845,817.74 CNY at the end of 2019[25]. - The net assets attributable to shareholders were 3,551,258,303.61 CNY, a decrease of 5.42% from 3,754,626,617.79 CNY in 2019[25]. - Basic earnings per share for 2020 was -0.20 CNY, an improvement of 53.61% compared to -0.42 CNY in 2019[26]. - The net profit for 2020 was -149.7 million CNY, compared to a net profit of 261.8 million CNY in 2018, reflecting significant losses over the past three years[29]. - The weighted average return on equity improved to -4.10% in 2020 from -8.20% in 2019, an increase of 4.1 percentage points[29]. - The net profit attributable to shareholders was -¥149,701,660.11, an increase of 53.63% year-on-year[44]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥325,697,299.85, an increase of 14.73% compared to the previous year[44]. Shareholder Actions - The company plans to distribute a cash dividend of 0.50 CNY per 10 shares, totaling 38,321,950.00 CNY, based on a total share capital of 766,439,000 shares[6]. - The cash dividend for 2020 represents -25.60% of the net profit attributable to ordinary shareholders, reflecting the company's financial challenges[105]. Regulatory and Compliance Issues - The company has faced regulatory scrutiny due to allegations of false disclosures in previous financial reports, leading to an investigation by the China Securities Regulatory Commission[10]. - The company emphasizes that forward-looking statements in the report do not constitute a commitment to investors, highlighting the associated investment risks[7]. - The company has not reported any non-standard audit opinions from the accounting firm[111]. - There were no significant changes in accounting policies or estimates that affected the financial statements[111]. - The company has not reported any funds being occupied or overdue receivables during the reporting period[111]. Market and Sales Performance - The company reported a total revenue of 4.944 billion CNY in 2020, down from 5.282 billion CNY in 2019, indicating a declining trend[29]. - The company experienced a quarterly revenue increase, with Q4 2020 revenue reaching 1.414 billion CNY, up from 1.374 billion CNY in Q3 2020[30]. - The company reported a significant increase in export business, contributing to the overall revenue growth trend observed in 2020[29]. - The company achieved a revenue of ¥4,944,067,835.28, a decrease of 6.39% compared to the previous year[44]. - The company’s revenue from the Chinese market decreased by 35.64%, while revenue from international markets increased by 16.17%[63]. Product Development and Innovation - The company launched over ten new products featuring core health technologies, including the Fresh refrigerator with independent three-system and full-temperature zone capabilities[45]. - The company aims to enhance brand recognition and preference for the Whirlpool brand, focusing on health-oriented product innovation and consumer engagement[90]. - The company is committed to integrating smart and health-focused features into its product offerings, aligning with consumer trends towards integrated and customized home solutions[87]. - The company plans to launch the high-end Aurora dishwasher in Q2 2021, featuring a stainless steel panel and a capacity of 15 sets, aiming to drive sales growth in the kitchen appliance sector[96]. Marketing and Brand Strategy - Brand awareness for Whirlpool increased threefold compared to 2018, with brand preference doubling[44]. - The company focused on enhancing its flagship brand and upgraded the "Whirlpool Healthy Home" brand concept to drive sales growth[44]. - The company plans to enhance marketing efforts and product R&D to drive domestic sales growth and improve overall performance in 2021[29]. - The company will continue to strengthen its marketing strategies by leveraging data-driven sales management and enhancing customer service experiences[95]. Operational Efficiency and Cost Management - The company is committed to improving operational efficiency and reducing costs amid rising raw material and labor costs, which pose significant challenges[102]. - The company aims to control costs through measures such as resource conservation, optimized supply chain partnerships, and implementation of World Class Manufacturing (WCM) projects[98]. - The company reported a significant increase in accounts receivable financing, rising by 520.21% to approximately ¥296.03 million, which is 4.22% of total assets[75]. - The company reported a decrease in gross margin for major products, with washing machines down 7.30 percentage points to 19.71%[60]. Environmental Responsibility - The company has implemented a comprehensive environmental management system, ensuring compliance with pollution discharge standards across its facilities[148]. - The company reported a total of 41.80 tons of COD discharge from the Nankang Industrial Park, which is within the permitted limits[148]. - The company has established a wastewater treatment facility at the Nankang Phase I site, operational since October 2010, with a normal operational status[149]. - The company’s environmental report is available on the Shanghai Stock Exchange website, highlighting its commitment to social responsibility[146]. Employee Management and Development - The total number of employees in the parent company is 2,012, while the total number of employees in major subsidiaries is 3,174, resulting in a combined total of 5,186 employees[197]. - The company has established a performance evaluation system to enhance internal efficiency and align individual performance with company performance[198]. - Whirlpool (China) launched a learning and development project with a professional consulting management agency to enhance organizational and personnel capabilities[199]. - The training programs aimed to cultivate high-performance teams and systematic thinking among managers[199]. Strategic Focus and Future Plans - The company is focusing on expanding its market presence in the Asia-Pacific region, leveraging the experience of its executives[180]. - The company has plans for strategic acquisitions to bolster its market position and product offerings[180]. - Whirlpool (China) will enhance local R&D and leverage global resources to boost export business, with a focus on cross-border e-commerce to capitalize on market trends[97].

2021 年第一季度报告 公司代码：600983 公司简称：惠而浦 惠而浦（中国）股份有限公司 2021 年第一季度报告 1 / 18 2021 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 18 2021 年第一季度报告 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人艾小明、主管会计工作负责人何卫权及会计机构负责人（会计主管人员）黄元保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |-----------------------------------------------|------------------|--- ...

Financial Performance - Net profit attributable to shareholders was CNY -113,892,146.93, representing a decline of 64.56% year-on-year[18]. - Operating revenue for the year-to-date was CNY 3,530,303,298.18, down 13.62% from the same period last year[18]. - The weighted average return on net assets was -3.10%, a decrease of 1.4 percentage points year-on-year[18]. - Basic and diluted earnings per share were both CNY -0.15, reflecting a 64.56% decline compared to the previous year[20]. - The company anticipates continued operating losses for the remainder of the year, primarily due to a decline in domestic sales revenue from the Sanyo brand switch and increased expenses for brand channel development[30]. - The company's net profit is expected to decline significantly compared to the same period last year, with non-recurring gains and losses projected to decrease[30]. - Net profit for the first three quarters of 2020 was CNY 809,884,399.67, down from CNY 1,054,475,283.41 in the same period of 2019, representing a decline of approximately 23.2%[47]. - The net profit for the third quarter of 2020 was CNY 1,997,207.32, compared to a net loss of CNY 9,269,553.27 in the same quarter of 2019[53]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 6,743,867,990.04, a decrease of 11.06% compared to the end of the previous year[18]. - Total assets decreased to ¥6,743,867,990.04 from ¥7,582,845,817.74, reflecting a reduction in current assets[37]. - Total liabilities decreased to CNY 2,359,440,937.22 from CNY 3,011,782,510.13, indicating a reduction of approximately 21.7%[45]. - Current assets totaled CNY 3,292,652,521.65, down from CNY 4,249,440,470.15, reflecting a decline of about 22.5%[45]. - Non-current assets totaled CNY 2,378,485,743.92, an increase from CNY 2,318,630,252.07, indicating a growth of approximately 2.6%[45]. Cash Flow - The net cash flow from operating activities was CNY -988,877,415.61, a decrease of 53.92% compared to the previous year[18]. - The company's cash flow from operating activities showed a significant decline, indicating potential challenges in maintaining liquidity[70]. - Operating cash flow for the first three quarters of 2020 was -718,130,247.17, compared to -641,054,022.76 in the same period of 2019, indicating a decline in cash flow[76]. - Cash inflow from operating activities totaled 2,297,709,676.04 in 2020, down from 2,967,344,669.38 in 2019, representing a decrease of about 22.6%[76]. - The cash inflow from investment activities was CNY 4,877,882,726.30, an increase of 8.9% compared to CNY 4,479,413,687.49 in the same period of 2019[72]. - The net cash flow from investment activities improved significantly to 392,834,668.87 in 2020, compared to a negative cash flow of -498,891,406.80 in 2019[76]. - The cash outflow for purchasing goods and services was CNY 2,941,433,593.57, down from CNY 3,492,944,533.59 in the previous year[70]. Shareholder Information - The total number of shareholders at the end of the reporting period was 27,145[22]. - The largest shareholder, Whirlpool (China) Investment Co., Ltd., held 51.00% of the shares[22]. Operational Highlights - The company has not disclosed any new product developments or market expansion strategies in this report[18]. - The company plans to focus on new product development and market expansion strategies to enhance future performance[46]. Changes in Financial Metrics - Accounts receivable financing increased significantly to ¥290,720,459.03, a growth of 509% compared to the previous period's ¥47,730,651.20[27]. - Short-term borrowings decreased to ¥0, a decline of 100% from ¥10,000,000.00 in the previous period due to the termination of recourse accounts receivable factoring[27]. - Contract liabilities reached ¥99,598,370.33, reflecting a 100% increase as a result of reclassification from advance receipts under new accounting standards[27]. - Financial expenses rose to ¥36,800,532.24, a 173% increase compared to the previous period, primarily due to significant changes in exchange gains and losses[27]. - Investment income increased by 76% to ¥29,615,579.15 from ¥16,817,094.68 in the previous period, attributed to changes in interest rates[27]. - Fair value changes resulted in a gain of ¥50,664,980.69, a 244% increase compared to a loss of ¥35,199,123.69 in the previous period, also linked to interest rate fluctuations[27]. - Asset impairment losses amounted to -¥25,601,347.47, a 232% increase from ¥19,336,781.04 in the previous period, due to the depreciation of Sanyo's damaged machines[27].

Financial Performance - The company's operating revenue for the first half of 2020 was ¥2,156,408,660.92, a decrease of 19.90% compared to ¥2,692,122,554.22 in the same period last year[20]. - The net profit attributable to shareholders of the listed company was -¥115,889,354.26, representing a decrease of 93.35% compared to -¥59,939,074.19 in the previous year[20]. - The net cash flow from operating activities was -¥738,565,374.21, a decline of 29.53% from -¥570,170,382.58 in the same period last year[20]. - The total assets at the end of the reporting period were ¥6,803,171,240.20, down 10.28% from ¥7,582,845,817.74 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company decreased by 4.10% to ¥3,600,507,645.65 from ¥3,754,626,617.79 at the end of the previous year[20]. - The basic earnings per share for the first half of 2020 was -¥0.15, a decrease of 93.35% compared to -¥0.08 in the same period last year[20]. - The weighted average return on net assets was -3.15%, a decrease of 1.68 percentage points from -1.47% in the previous year[20]. - The company reported a total comprehensive loss of CNY 115,797,022.14 for the first half of 2020, compared to a loss of CNY 59,929,574.84 in the prior year[130]. - The total profit (loss) before tax was -240,729,852.06 RMB, compared to -143,670,798.24 RMB in the previous year, indicating a worsening financial performance[136]. Market and Sales Performance - The company reported a significant impact on domestic sales revenue due to the COVID-19 pandemic, leading to the decline in net profit[21]. - In Q2 2020, revenue significantly increased to 1.274 billion yuan, representing a quarter-on-quarter growth of 44%[36]. - The company reported a net profit attributable to shareholders of -116 million yuan, a decline of 93% compared to the same period last year, but a quarter-on-quarter increase of 92%[36]. - The export revenue for the first half of 2020 reached 1.406 billion yuan, with a quarter-on-quarter growth of 20%[36]. - The domestic market sales scale of the Chinese home appliance industry in the first half of 2020 was 336.5 billion yuan, a year-on-year decrease of 18.4%[35]. - Whirlpool's washing machine offline sales increased by 12% year-on-year in the first half of 2020, with a market share growth of 1.3%[41]. - The company's online sales for ice washing products reached 56.98 million, representing a 29% year-on-year growth, making it the fastest-growing foreign brand in the industry[41]. Innovation and Development - The company is focusing on health technology innovation, aligning with the increasing consumer demand for health-oriented home appliances[36]. - The company has integrated its R&D, quality manufacturing, and sales teams to enhance its innovation capabilities and market responsiveness[28]. - The company has established a comprehensive independent R&D, design, procurement, production, and sales system[29]. - The company is actively responding to the "Made in China 2025" strategy and has completed investments in its headquarters, global R&D center, design center, and smart factory[32]. - The company launched a full line of "health and sterilization product family" during the April product launch event, achieving sales of CNY 29.52 million from the event[51]. Risk Factors - The company has identified market risk, cost risk, and management risk as major risk factors in its operations[7]. - The company anticipates a significant change in cumulative net profit from the beginning of the year to the end of the next reporting period due to a deteriorating operating environment, insufficient market demand, and intensified competition[63]. - The company faces market demand risks, particularly in the kitchen and small appliance sectors, where consumer habits need to be cultivated, potentially leading to profit losses and wasted sales opportunities[64]. - The company is under pressure from rising costs, including fluctuations in raw material prices, increasing labor costs, and growing logistics expenses, which could impact profitability[64]. Environmental Compliance - The company reported a total wastewater discharge of 87,551.84 tons from the Nankang Industrial Park in the first half of the year, with a chemical oxygen demand average concentration of 198.5 mg/L, which is below the permitted limits[86]. - The wastewater discharge from the Whirlpool Industrial Park was 50,159.2 tons, with a chemical oxygen demand average concentration of 91.5 mg/L, also below the permitted limits[86]. - The company has established emergency response plans for environmental incidents, ensuring preparedness for potential environmental hazards[94]. - The company conducts quarterly comprehensive monitoring of its emissions through qualified external units, ensuring compliance with national standards[97]. Shareholder and Capital Structure - The total number of common shareholders at the end of the reporting period was 25,529[101]. - The top shareholder, Whirlpool (China) Investment Co., held 390,884,200 shares, representing 51.00% of the total shares[101]. - The second-largest shareholder, Hefei State-owned Assets Investment Co., held 178,854,400 shares, accounting for 23.34%[101]. - There have been no changes in the company's total share capital or share structure during the reporting period[99]. - The company did not propose any profit distribution or capital reserve transfer during the 2019 annual shareholders' meeting, with no dividends or bonus shares issued[70]. Financial Management - The company implemented cost control measures, resulting in a 32.48% reduction in sales expenses and a 14.80% decrease in operating costs[59]. - The company's cash and cash equivalents decreased to approximately ¥990.78 million from ¥1,519.44 million year-over-year[111]. - Total current assets decreased to approximately ¥4.68 billion from ¥5.51 billion year-over-year[111]. - The company incurred a credit impairment loss of -3,425,425.00 RMB, contributing to the overall financial strain[136]. - The cash flow from financing activities resulted in a net inflow of 9,446,333.33 RMB, contrasting with a net outflow of -70,284,183.58 RMB in the same period last year, showing improved financing conditions[140].

Financial Performance - In 2019, the company reported a net profit of -322,839,167.01 RMB, a decrease of 223.30% compared to the previous year[4]. - The total operating revenue for 2019 was 5,281,658,055.31 RMB, reflecting a decline of 15.97% from 2018[21]. - The basic earnings per share for 2019 was -0.42 RMB, a drop of 223.53% compared to 0.34 RMB in 2018[22]. - The weighted average return on equity was -8.21% in 2019, down 14.75 percentage points from the previous year[22]. - The net profit attributable to shareholders for Q4 2019 was -¥253,630,539.55, contributing to an annual net loss of -¥322,839,176.01[25]. - The company reported a net cash flow from operating activities of -¥109,448,371.36, a significant decline of 262.11% compared to the previous year[65]. - The company achieved a total of 1,800,000,000 in structured deposits with a yield of 3.65% as of December 2019[107]. Assets and Liabilities - The company's total assets decreased by 8.58% year-on-year, amounting to 7,582,845,817.74 RMB at the end of 2019[21]. - The company's net assets attributable to shareholders decreased by 8.77% to 3,754,626,617.79 RMB at the end of 2019[21]. - The total liabilities decreased to CNY 3,828,219,199.95 in 2019 from CNY 4,178,687,561.70 in 2018, a reduction of about 8.4%[179]. - The total equity attributable to shareholders decreased to CNY 3,754,626,617.79 in 2019 from CNY 4,115,710,531.27 in 2018, reflecting a decline of approximately 8.8%[179]. Revenue and Costs - Total revenue for 2019 was ¥5,281,658,055.31, a decrease of 15.97% from ¥6,285,633,179.42 in 2018[186]. - Total operating costs for 2019 were ¥5,515,950,283.94, down from ¥6,116,943,035.29 in 2018, reflecting a reduction of 9.85%[186]. - The company's revenue from home appliance manufacturing reached ¥5,281,658,055.31, a decrease of 13.53% compared to the previous year, with a gross margin of 23.67%[56]. Market and Industry Trends - In 2019, the home appliance industry experienced its first negative growth since 2013, with overall retail consumption demand weak and market performance flat[35]. - The company faced challenges with a 3.9% decline in the overall Chinese home appliance market, marking the first negative growth since 2013[47]. - The kitchen appliance segment saw a year-on-year decline of 6.6% due to sluggish demand in the real estate market[47]. Strategic Initiatives - The company plans to distribute a cash dividend of 0.50 RMB per 10 shares, totaling 38,321,950.00 RMB[4]. - Whirlpool (China) focused on smart technology research and high-quality product manufacturing, enhancing brand and product strength to capture market demand[35]. - The company aims to expand its export business by leveraging Whirlpool's global resources and enhancing local manufacturing cost competitiveness, targeting growth in the Asia-Pacific region to mitigate potential declines due to the pandemic[82]. Research and Development - Total R&D expenditure was ¥150,681,562.90, accounting for 2.85% of total revenue, with 362 R&D personnel, representing 14% of the total workforce[64]. - The company launched a series of core health smart technology products, including the "Emperor" washing machine and "Frozen Age PRO" refrigerator, showcasing innovative features[37]. Environmental Responsibility - The company discharged a total of 223,785.6 tons of wastewater from the Nangang Industrial Park in the reporting period, with a chemical oxygen demand (COD) average concentration of 207.1 mg/L, which is below the discharge permit limits[111]. - The company has invested in advanced pollution control technologies, including activated carbon adsorption and biological treatment processes, to enhance its environmental performance[112]. Governance and Compliance - The company has a clear governance structure with independent directors and a supervisory board, ensuring compliance and oversight[132]. - The company has not faced any penalties from securities regulatory agencies in the past three years, indicating compliance with regulations[139]. - The audit report confirmed that the financial statements fairly reflect the company's financial position as of December 31, 2019[163].

2019 年年度报告 公司代码：600983 公司简称：惠而浦 惠而浦（中国）股份有限公司 2020 年第一季度报告 二 O 二 O 年四月 1 / 18 2020 年第一季度报告 一、 二、 11Í 四、 目录 | --- | |----------------| | | | 重要提示 . | | 公司基本情况 . | | 重要事项 . | | 附录 . | 2 / 18 2020 年第一季度报告 单位：元 币种：人民币 3 / 18 一、 重要提示 1.1 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整， 不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 1.2 公司全体董事出席董事会审议季度报告。 1.3 公司负责人艾小明、主管会计工作负责人何卫权 及会计机构负责人（会计主管人员）黄元保 证季度报告中财务报表的真实、准确、完整。 1.4 本公司第一季度报告未经审计。 二、 公司基本情况 2.1 主要财务数据 | --- | --- | --- | --- | --- | |---------------------------------------- ...

Financial Performance - Net profit attributable to shareholders was CNY -69,208,627.46, a decline of 119.53% year-on-year[17]. - Operating revenue for the first nine months was CNY 4,086,821,951.82, down 11.93% from the same period last year[17]. - The net cash flow from operating activities was CNY -642,445,284.21, a decrease of 15.89% year-on-year[17]. - Basic earnings per share were CNY -0.09, a decline of 119.56% compared to CNY 0.46 in the previous year[17]. - The net profit for the first three quarters of 2019 was RMB 1,312,855,982.28, down from RMB 1,502,928,644.07 in the same period of 2018, reflecting a decline of approximately 12.6%[46]. - The company reported a total operating profit of -43,581,892.24 CNY for Q3 2019, compared to 3,883,858.12 CNY in Q3 2018, marking a decline of approximately 1,202.5%[64]. - The company experienced a net loss of -5,181,666.05 CNY in total profit for Q3 2019, contrasting with a profit of 77,631,515.62 CNY in Q3 2018, representing a decline of approximately 106.7%[64]. - Total comprehensive income for Q3 2019 was -9,280,681.63 CNY, down from 59,903,802.38 CNY in Q3 2018, indicating a decrease of about 115.5%[60]. Assets and Liabilities - Total assets decreased by 9.53% to CNY 7,504,087,283.73 compared to the end of the previous year[17]. - The company's total liabilities decreased to ¥3,495,908,958.93 from ¥4,178,687,561.70, a decline of 16.4% year-over-year[38]. - Total liabilities were RMB 2,776,180,102.24, down from RMB 3,308,168,515.56, reflecting a reduction of about 16.1%[44]. - The company's total equity attributable to shareholders decreased to ¥4,008,178,324.80 from ¥4,115,710,531.27, a decline of 2.6% year-over-year[38]. - The company reported a total asset value of CNY 7,312,910,088.31, with non-current assets at CNY 3,410,979,018.85[90]. - Total liabilities amounted to CNY 4,178,687,561.70, with non-current liabilities totaling CNY 96,331,755.88[87]. Cash Flow - The company's cash and cash equivalents decreased to ¥1,315,127,742.39 from ¥2,530,356,157.13, representing a decline of 48.0% year-over-year[33]. - Cash flow from operating activities for the first three quarters of 2019 was negative at approximately CNY -642.45 million, compared to CNY -554.35 million in the same period of 2018[72]. - Cash flow from investment activities showed a net outflow of approximately CNY -516.71 million in 2019, contrasting with a net inflow of CNY 337.97 million in 2018[75]. - The ending cash and cash equivalents balance decreased to 517,700,620.13 from 1,657,340,900.17, a decline of approximately 68.8%[77]. - The company reported a total cash outflow of 3,608,398,692.14 from operating activities, down from 4,066,775,140.17, showing improved cash management[77]. Revenue and Expenses - The company's revenue from advance receipts decreased by 56.15% to ¥41,144,661.02 from ¥93,826,505.71, attributed to changes in credit policy[36]. - The company incurred operating expenses of approximately CNY 4.87 billion, compared to CNY 5.07 billion in the same period of 2018, showing a reduction of about 3.5%[72]. - The gross profit for Q3 2019 was RMB 1,116,965,801.72, a decrease of 4.1% compared to RMB 1,165,149,929.27 in Q3 2018[49]. - Research and development expenses for Q3 2019 were RMB 34,549,171.60, a decrease of 22.7% from RMB 44,678,903.57 in Q3 2018[49]. - The company's investment income dropped by 44.94% to ¥16,817,094.68 from ¥30,543,434.29, primarily due to a decrease in financial management income[36]. Shareholder Information - The total number of shareholders was 22,674, with the largest shareholder holding 51.00% of the shares[21]. - The company's total equity decreased to RMB 3,814,668,910.96 from RMB 4,004,741,572.75, indicating a decline of approximately 4.7%[46]. Future Outlook - The company expects to incur operating losses for the remainder of the year due to a decline in domestic sales revenue and increased expenses for brand channel development[36]. - Future outlook includes potential strategies for market expansion and new product development to improve financial performance[72].

Financial Performance - The company's operating revenue for the first half of 2019 was ¥2,692,122,554.22, a decrease of 13.59% compared to ¥3,115,546,243.88 in the same period last year[27]. - The net profit attributable to shareholders of the listed company was -¥59,939,074.19, representing a decline of 120.73% from ¥289,130,922.83 in the previous year[27]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥89,742,511.35, a decrease of 245.88% compared to ¥61,519,249.38 in the same period last year[27]. - The net cash flow from operating activities was -¥570,170,382.58, an improvement of 19.91% from -¥711,933,597.64 in the previous year[27]. - Basic earnings per share were -¥0.08, a decrease of 121% from ¥0.38 in the same period last year[27]. - The weighted average return on net assets was -1.47%, a decrease of 8.68 percentage points from 7.21% in the previous year[27]. - The decline in net profit was primarily due to a decrease in revenue and gross profit, with a combined impact of 65% from these factors[42]. - The company reported a significant increase in financial assets measured at fair value, rising to ¥1,547,919,708.62 from ¥1,369,911.46[111]. Sales and Market Performance - In the first half of 2019, the company achieved sales revenue of RMB 2.69 billion, a year-on-year decrease of 13.6%[42]. - The company reported a significant drop in washing machine sales, exceeding 20%, due to the brand transition from Sanyo to the new brand positioning[43]. - The Whirlpool brand products experienced rapid growth, with retail sales increasing by 53.6% and retail volume by 53.7% in June compared to the previous year[43]. - Online sales for Whirlpool's products grew by 160% year-over-year in the first half of 2019, with a 66.7% increase in overall kitchen appliance sales during the 6.18 promotion period[48]. - Whirlpool's kitchen appliance sales revenue in the first half of 2019 reached the total revenue of the previous year, establishing a solid foundation for future growth[52]. Brand and Product Development - The company has committed to increasing brand investment, marking 2019 as the year with the highest investment in brand development since its establishment in China[43]. - The company is focusing on brand resource allocation and optimizing channel construction to enhance market presence[43]. - Whirlpool's new product launches, including the Emperor series washing machines and Frozen PRO refrigerators, focus on smart technology and have received high performance certifications, including the new national standard 5A+ certification[49]. - The company is actively integrating into the global innovation system and product development processes, leveraging over a century of user data and technological innovation from the Whirlpool Group[36]. Operational Efficiency and Cost Management - The company achieved a 12% increase in production efficiency in the first half of 2019 through various improvement measures[9]. - The company has optimized its procurement processes, resulting in significant cost management achievements[9]. - The company's operating costs also decreased by 13.04%, from ¥2,397,461,091.92 to ¥2,084,909,788.56[58]. Environmental Compliance - The company has established wastewater treatment systems and air pollution control facilities, ensuring compliance with relevant standards[89]. - The company has implemented an annual environmental monitoring plan, conducting comprehensive monitoring of wastewater discharge quarterly[96]. - The company has established emergency response plans for environmental incidents, including training and resource allocation[95]. Shareholder and Equity Information - Total number of common stock shareholders reached 25,314 by the end of the reporting period[103]. - The largest shareholder, Whirlpool (China) Investment Co., Ltd., holds 390,884,200 shares, representing 51.00% of total shares[103]. - The total equity attributable to shareholders decreased from ¥4,115,710,531.27 to ¥4,017,459,006.43, a decrease of about 2.4%[120]. - The company distributed 38,321,950.00 RMB to shareholders, reflecting its commitment to returning value to investors[186]. Future Outlook and Challenges - The company expects a decline in sales volume and potential net losses in the next reporting period due to brand switching impacts[65]. - The company faces risks including market competition, brand switching, cost fluctuations, and management challenges[68]. - The company aims to enhance its market presence through strategic partnerships and potential acquisitions, particularly in the appliance sector[195].

Financial Performance - Operating revenue for the first quarter was CNY 1,458,794,696.45, a decline of 13.93% year-on-year[11] - Net profit attributable to shareholders was CNY -15,272,896.69, representing a decrease of 126.51% compared to the same period last year[11] - The company reported a net profit of CNY -15,272,896.69, a decrease of 127% compared to the previous period's profit of CNY 57,619,380.12, primarily due to a decline in gross profit[17] - Total operating revenue for Q1 2019 was CNY 1,458,794,696.45, a decrease of 14% compared to CNY 1,694,967,232.72 in Q1 2018[39] - Net profit for Q1 2019 was a loss of CNY 15,272,896.69, compared to a profit of CNY 57,619,380.12 in Q1 2018[40] - Total comprehensive income for Q1 2019 was a loss of CNY 15,245,969.02, compared to a gain of CNY 57,638,273.37 in Q1 2018[40] Cash Flow - Net cash flow from operating activities improved by 43.86%, reaching CNY -336,616,186.05[11] - Cash flow from operating activities showed a net outflow of CNY -336,616,186.05, a 44% improvement compared to the previous outflow of CNY -599,593,116.35[17] - Cash inflow from operating activities for the first quarter of 2019 was 1,385,484,883.65 RMB, a decrease of 10.94% from 1,555,941,916.99 RMB in the first quarter of 2018[48] - Cash outflow from operating activities totaled 1,722,101,069.70 RMB, down from 2,155,535,033.34 RMB in the previous year, resulting in a net cash flow from operating activities of -336,616,186.05 RMB[51] - The net cash flow from investing activities was -365,289,482.99 RMB, contrasting with a positive cash flow of 8,914,993.78 RMB in the same quarter of 2018[51] - The net cash flow from financing activities was -67,658,996.89 RMB, indicating a decrease in cash inflow compared to the previous year[53] Assets and Liabilities - Total assets decreased by 4.05% to CNY 7,958,162,275.08 compared to the end of the previous year[11] - The company’s total assets decreased to CNY 7,958,162,275.08 from CNY 8,294,398,092.97, reflecting a reduction in available financial assets[28] - Total liabilities decreased from ¥4,178,687,561.70 to ¥3,857,697,712.83, a reduction of approximately 7.7%[30] - Total current liabilities decreased from ¥3,219,471,975.21 to ¥2,971,762,962.38, a decline of about 7.7%[36] - Cash and cash equivalents decreased from ¥1,716,117,541.07 to ¥930,684,721.67, a drop of approximately 45.8%[34] Shareholder Information - The number of shareholders at the end of the reporting period was 23,799[14] - The largest shareholder, Whirlpool (China) Investment Co., Ltd., holds 51.00% of the shares[14] Research and Development - Research and development expenses increased by 35% to CNY 32,270,790.78 from CNY 23,928,482.50, indicating ongoing investment in new products and technologies[17] Other Financial Metrics - The weighted average return on net assets decreased by 125.29 percentage points to 1.47%[11] - The basic earnings per share for the period was CNY -0.08, a decrease of 125% compared to the previous year[11] - Investment income dropped by 62% to CNY 11,893,990.46 from CNY 31,062,618.17, impacted by hedging activities[17] - The company reported a significant decrease in cash received from sales of goods and services, totaling 1,290,443,520.61 RMB, down from 1,470,005,889.41 RMB in the first quarter of 2018[49]

Financial Performance - The company achieved a net profit of ¥261,839,479.47 in 2018, a significant increase of 370.01% compared to a net loss of ¥96,975,651.32 in 2017[6] - Total revenue for 2018 was ¥6,285,633,179.42, representing a decrease of 1.23% from ¥6,364,091,904.60 in 2017[22] - The net asset attributable to shareholders increased by 5.74% to ¥4,115,710,531.27 at the end of 2018, compared to ¥3,892,171,967.16 at the end of 2017[22] - The company reported a basic earnings per share of ¥0.34 in 2018, a recovery from a loss of ¥0.13 per share in 2017[23] - The weighted average return on net assets improved to 6.54% in 2018, up by 8.98 percentage points from -2.44% in 2017[26] - The company reported a significant increase of 101.39% in net profit attributable to shareholders after deducting non-recurring gains and losses, primarily due to product structure adjustments and reduced labor costs[26] - The company reported a net cash flow from financing activities of CNY 8,343,883.18, a significant improvement compared to the previous year's negative cash flow[52] - The company reported a significant reduction in sales expenses by 16.85% to ¥1.03 billion[61] - The company reported a net cash flow from operating activities of -¥30.23 million, a decrease of 107.83% compared to the previous year[63] - The company reported a total expected return of RMB 5,000,000 from various wealth management products[122] Dividend and Profit Distribution - The company plans to distribute a cash dividend of ¥0.50 per 10 shares, totaling ¥38,321,950.00, based on the total share capital of 766,439,000 shares[6] - The proposed profit distribution plan does not meet the Shanghai Stock Exchange's guideline requiring a cash dividend total to be at least 30% of the net profit attributable to shareholders, primarily due to increased investment in brand building and new product development[100] - In 2018, the company distributed a cash dividend of 38,321,950.00 RMB, which accounted for only 14.64% of the net profit attributable to shareholders[103] - The cash dividend per share for 2018 was 0.50 RMB, consistent with the previous year, despite the company's recovery from losses[103] Operational Efficiency and Strategy - The company implemented a comprehensive organizational restructuring, enhancing operational efficiency and core competitiveness, which contributed to winning the Whirlpool Group's global annual award[45] - The company reduced operating costs, with sales expenses decreasing by 16.85% and management expenses decreasing by 29.70% year-on-year[52] - The company is focusing on high-end, intelligent, and energy-efficient home appliances in response to market trends[37] - The company is committed to digital transformation, optimizing channel construction, and enhancing e-commerce sales capabilities to improve consumer experience[81] - The company has established a comprehensive R&D, design, procurement, production, and sales system to support its business operations[36] Market and Product Development - The company plans to focus on high-end niche market product development in 2019, introducing new products such as the Emperor series washing machine and the Frozen Age PRO refrigerator[81] - The company launched innovative products such as the new Rui series washing machine and the W series kitchen appliances, aligning with consumer demands for higher living standards and smart home trends[47] - The company is actively integrating into the global innovation system by leveraging its R&D centers and sharing resources with Whirlpool's global network[38] - The company aims to enhance product value by integrating "health technology," "excellent performance," "ease of use," and "cutting-edge design" into its offerings[81] Environmental Compliance and Sustainability - The wastewater discharge from the company's Nankang Industrial Park was 266,700 tons, with a chemical oxygen demand average concentration of 157 mg/L, which is below the permitted limits[130] - The company reported a total wastewater discharge of 144,300 tons from the Whirlpool Industrial Park, with a chemical oxygen demand average concentration of 198 mg/L, also compliant with discharge standards[130] - The company has established a comprehensive environmental monitoring plan, conducting quarterly assessments of all emissions[137] - The company is committed to sustainability initiatives, aiming to reduce carbon emissions by L% over the next five years[162] Shareholder and Governance - The total number of ordinary shareholders at the end of the reporting period is 24,249, an increase from 23,799 at the end of the previous month[144] - The top shareholder, Whirlpool (China) Investment Co., Ltd., holds 390,884,200 shares, representing 51.00% of the total shares[145] - The company has no strategic investors or general legal entities becoming top 10 shareholders during the reporting period[148] - The board of directors held 9 meetings, with all members actively participating, ensuring effective governance[183] Research and Development - The company has a significant focus on research and development of new products and high-tech innovations, establishing R&D centers in China[147] - The company’s research and development expenses were CNY 144,086,797.61, a decrease of 5.27% year-on-year, reflecting a focus on cost control while maintaining innovation[52] - The R&D department has made significant advancements, with a budget increase of H% allocated for new technology development in the upcoming year[162] Risks and Challenges - The company faces risks from market competition, cost fluctuations, and management challenges, necessitating a focus on brand differentiation and risk management strategies[98] - Significant accounts receivable and notes receivable amounts are impacted by the economic downturn and e-commerce challenges, necessitating careful judgment and estimation for bad debt provisions[198] Employee and Management - The total number of employees in the parent company is 2,693, while the total number of employees in major subsidiaries is 6,254, resulting in a combined total of 8,947 employees[171] - The total hours of outsourced labor amounted to 5,433,926 hours, with total payments for outsourced labor reaching 85.53 million yuan[178] - The company has implemented a training program that included 719 participants, focusing on professional skills, general capabilities, leadership, and sales[175] - The total pre-tax remuneration for the president and director, Ai Xiaoming, was RMB 1.2634 million for the reporting period[157]