Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.Hangzhou Robam Appliances Co. Ltd.Semi-Annual Report 2026

August 2026

1Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Section 1 Important Notes Contents and Interpretations

The Board of Directors as well as the directors and senior management of

Hangzhou Robam Appliances Co. Ltd. (the Company) hereby guarantee that

there are no false representations misleading statements or material

omissions in this Semi-Annual Report (“the Report”) and are severally and

jointly liable for the authenticity accuracy and completeness of the

information contained herein.Ren Fujia the head of the Company Zhang Guofu the person in charge

of the Company’s accounting and Zhang Guofu the head of the accounting

department (the accountant in charge) hereby declare and warrant that the

financial report contained in the Report is authentic accurate and complete.All the directors attended a Board meeting during which they reviewed

the Report.The Company’s profit distribution plan approved by the Board of

Directors is as follows: based on the total of 944992916 shares a cash

dividend of RMB 5 (inclusive of tax) will be distributed to all shareholders for

every 10 shares held. No bonus shares (inclusive of tax) will be issued and

there will be no capital reserve converted into capital stock.

2Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Contents

Section 1 Important Notes Contents and Interpretat....2

Section 2 Company Profile and Major Financial Indi....6

Section 3 Management Discussion and Analysis .........9

Section 4 Corporate Governance Environment and Soc...22

Section 5 Significant Matters ...................... 28

Section 6 Changes in Shares and Shareholders ....... 32

Section 7 Bonds .....................................38

Section 8 Financial Report ......................... 39

3Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Documents Available for Inspection

I. Financial statements bearing signatures and seals of the legal representative the person in

charge of accounting affairs and the head of the accounting body.II. Original copies of documents and announcements of the Company published in the newspaper

designated by China Securities Regulatory Commission during the Reporting Period.III. The Semi-Annual Report 2026 signed by the legal representative.IV. Other information.

4Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Interpretations

Item refer(s) to Contents

The Company Company Robam Appliances refer(s) to Hangzhou Robam Appliances Co. Ltd.Hangzhou Robam Industrial Group Co. Ltd.Robam Group refer(s) to

controlling shareholder of the Company

MingQi refer(s) to Hangzhou MingQi Electric Co. Ltd.Shengzhou Kinde Intelligent Kitchen Appliances Co.Kinde Subsidiary refer(s) to

Ltd.Jinhe Electric Appliances refer(s) to Hangzhou Jinhe Electric Appliances Co. Ltd.The reporting period refer(s) to The first half of 2026

AVC refer(s) to Beijing All View Cloud Data Technology Co. Ltd.

5Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Section 2 Company Profile and Major Financial Indicators

I. Company Profile

Stock abbreviation Robam Stock code 002508

Stocks traded on Shenzhen Stock Exchange

Chinese name of the

Hangzhou Robam Appliances Co. Ltd.Company

Short Chinese name of the

Robam

Company (if any)

English name of the Company

HANGZHOU ROBAM APPLIANCES CO. LTD.(if any)

Short English name of the

ROBAM

Company (if any)

Legal representative of the

Ren Fujia

Company

II. Contact Person and Contact Information

Secretary of the Board of Directors Representative of securities affairs

Name Chen Xiaofeng Tao Yidi

No. 592 Linping Avenue Linping No. 592 Linping Avenue Linping

Contact address District Hangzhou City Zhejiang District Hangzhou City Zhejiang

Province Province

Telephone 0571-86187810 0571-86187810

Fax 0571-86187769 0571-86187769

E-mail wg@robam.com wg@robam.com

III. Other Information

1. Contact information

Whether the registered address office address and zip code as well as the website and email address of the Company changed

during the reporting period

□Applicable□Not applicable

There were no changes in the registered address office address and zip code as well as the website and email address of the

Company during the reporting period. For details please refer to the Annual Report 2025.

2. Information disclosure and filing location

Whether the information disclosure and filing locations changed during the reporting period

□Applicable□Not applicable

During the reporting period there were no changes in the website of stock exchange and name and website of media designated

for information disclosure of the semi-annual report and the location for filing the semi-annual report of the Company. For details

please refer to the Annual Report 2025.

6Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

3. Other information

Whether other relevant information changed during the reporting period

□Applicable□Not applicable

IV. Key Accounting Data and Financial Indicators

Whether the Company needs to retroactively adjust or restate the accounting data of previous years

□ Yes□No

The reporting period The same period last year YoY change

Operating income (RMB) 3972387199.38 4607524703.26 -13.78%

Net profit attributable to

shareholders of the listed 578235101.90 711640958.19 -18.75%

company (RMB)

Net profit attributable to

shareholders of the listed

502208891.18641999238.91-21.77%

company after deducting non-

recurring gains/losses (RMB)

Net cash flow from operating

-362290925.91511206760.85-170.87%

activities (RMB)

Basic earnings per share

0.610.75-18.67%

(EPS) (RMB/share)

Diluted EPS (RMB/share) 0.61 0.75 -18.67%

Weighted average return on A decrease of 1.26 percentage

4.91%6.17%

net assets points

End of the reporting period End of last year Change

Total assets (RMB) 16551968719.72 17208063114.15 -3.81%

Net assets attributable to

shareholders of the listed 11610674719.67 11497455691.08 0.98%

company (RMB)

V. Differences in Accounting Data under Domestic and Foreign Accounting Standards

1. Whether there are differences in the net profit and net asset disclosed in the Financial Report under

International Accounting Standards (IAS) and China’s accounting standards:

□Applicable□Not applicable

There is no difference in the net profit and net asset disclosed in the Financial Report under IAS and China’s accounting standards

during the reporting period.

2. Whether there are differences in the net profit and net asset disclosed in the Financial Report under

foreign accounting standards and China’s accounting standards:

□Applicable□Not applicable

There is no difference in the net profit and net asset disclosed in the Financial Report under foreign accounting standards and

China’s accounting standards during the reporting period.

7Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

VI. Items and Amounts of Non-recurring Gains and Losses

□Applicable □Not applicable

In RMB

Item Amount Description

Gains and losses on disposal of non-

current assets (including the written-off

-595431.49

part of the provision for asset impairment

accrued)

Government subsidies included in

current gains and losses (excluding

government subsidies closely related to

the Company's normal business in line

20926775.21

with national policy enjoyed according

to established standards and having a

sustained impact on the Company's gains

and losses).Reversal of impairment provision for

accounts receivable tested for 69941235.67

impairment separately

Other non-operating revenues and

1169581.54

expenses except the above items

Less: Affected amount of income tax 14465231.17

Affected amount of minority

950719.04

shareholders’ equity (after tax)

Total 76026210.72

Other items of gains and losses meeting the definition of non-recurring gains and losses:

□Applicable□Not applicable

The Company does not have other items of gains and losses meeting the definition of non-recurring gains and losses.Explanation on the circumstance where items of the non-recurring gains and losses enumerated in the Explanatory Announcement

No. 1 on Information Disclosure for Companies Offering Their Securities to the Public — Non-recurring Gains and Losses

(referred to as “Announcement No.1”) are defined as recurring gains and losses.□Applicable□Not applicable

There is no circumstance where items of non-recurring gains and losses enumerated in accordance with the Announcement No. 1

are defined as recurring gains and losses.

8Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Section 3 Management Discussion and Analysis

I. Main Businesses during the Reporting Period

In the first half of 2026 as government subsidies for kitchen appliances were phased out coupled with a slow

recovery in consumer spending and continued pressure on the real estate market the domestic kitchen appliance

market entered a new phase dominated by existing demand. The overall market size contracted somewhat with a

divergence in performance between essential and upgrade-driven product categories and the structure of online and

offline channels underwent accelerated adjustments. The industry’s focus shifted further toward creating value for

users refining operations and enhancing endogenous growth capabilities. In the retail channel according to the

monthly monitoring report on the offline market by AVC (hereinafter referred to as the “AVC Offline Report”) retail

sales value of range hoods and gas stoves decreased by 17.8% and 22.6% respectively compared with the same

period last year. In the e-commerce channel according to the monthly monitoring report on the online market by

AVC (hereinafter referred to as the “AVC Online Report”) retail sales value of range hoods and gas stoves increased

by 0.3% and decreased by 8.1% respectively compared with the same period last year. In the developer channel

according to the AVC Summary Report on China’s Finely Decorated Real Estate Market for the First Half of 2026

(hereinafter referred to as the “AVC Real Estate Report”) 362 new finely decorated residential projects were

launched totaling 161000 units—a YoY decline of 25.5%. The penetration rate for finely decorated units stood at

36.8% a YoY decrease of 1.3 percentage points indicating that the market remains in a period of adjustment.

In response to changing market demands and the evolving competitive landscape of the industry the Company

has adhered to a development strategy that integrates technology and humanistic values. Guided by this year’sbusiness philosophy of “Building Dreams and Embarking on a Journey Break Through to Thrive—Advancing theDevelopment of a Culinary Superbrand and Enhancing Operational Quality” the Company is seizing the opportunity

presented by the launch of its new three-year strategy. Centered on building a culinary superbrand the Company is

driving the transformation of its business model achieving breakthroughs in core operations and strengthening

organizational capabilities with a focus on enhancing operational quality and sustainable development capacity.According to AVC Offline Report the Robam brand held market shares of 31.5% in retail sales value and 24.8% in

retail sales volume for range hoods and 31.3% in retail sales value and 24.1% in retail sales volume for gas stoves

ranking first in the industry by a significant margin; according to AVC Online Report the Robam brand held market

shares of 24.7% in retail sales value and 18.5% in retail sales volume for kitchen appliance packages both of which

9Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

firmly maintained the top position in the industry. In the first half of 2026 the Company achieved a revenue of RMB

3.972 billion representing a YoY decrease of 13.78%. The net profit attributable to shareholders of the listed

company was RMB 578 million a YoY decrease of 18.75%.As of June 30 2026 according to AVC Offline Report the market shares and market rankings of the

Company’s main product categories in terms of offline retail sales are shown in the following table:

Built-in Built-in

Range hood Gas stove combi-steam Dishwasher electric steam Built-in Disinfection Integrated

oven oven electric oven cabinet stove

31.5%31.3%27.1%18.4%16.4%12.6%22.8%36.8%

11123322

As of June 30 2026 according to AVC Online Report the market shares and market rankings of the Company’s

main product categories in terms of online retail sales are shown in the following table:

2-piece package Kitchen Built-in Built-in

Range hood Gas stove of range hood appliance combi-steam electric steam Dishwasher

and stove package oven oven

20.7%18.2%26.0%24.7%13.1%16.4%4.9%

1111325

As of June 30 2026 according to AVC Real Estate Report the market share of Robam range hoods in the fine

decoration channel was 28.2% ranking No.2 in the industry.In the first half of 2026 the technology sector driven by the IPD 3.0 framework and centered on the “Shishen”

(Culinary Master) large model focused on key areas such as speech perception visual understanding intelligent

decision-making and device execution. It refined a unified technical foundation for intelligent agents driving the

expansion of AI capabilities from isolated functions to collaborative applications across products services and

business scenarios. The Company is accelerating the integration of advanced technologies into its kitchen appliances

driving the orderly launch of new product lines across categories such as range hoods and stoves steamers and ovens

and dishwashers and dryers. It is also gradually applying these capabilities to existing appliances innovative

hardware customer service and after-sales support while continuing to explore the integration of health management

with personalized cooking services. The Company’s National Enterprise Technology Center successfully passed the

re-evaluation conducted by the National Development and Reform Commission. As of June 30 2026 the Company

had led and participated in the development of a total of 171 standards. Among these the Company led the

development of 48 standards including 2 international standard proposals 7 national standards 3 industry standards

and 36 group standards; it also participated in the development of 123 standards including 54 national standards 19

industry standards and 50 group standards. The Company holds a total of 7640 valid patents including 1012

invention patents; in the first half of 2026 561 valid patents were added including 171 invention patents. During the

10Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

reporting period the Company’s digital smart range hoods and the smart cooking speaker won the iF Design Awardand the project “Research Development and Industrialization of Key Technologies for the Ultra-Thin Smart-Controlled High-Suction Range Hood” received the First Prize in the Science and Technology Progress Award from

the China National Light Industry Council and invention patents related to centrifugal fans and range hoods were

awarded the Third Prize in the Zhejiang Provincial Intellectual Property Award (Patent Category). The Company’s

capabilities in technological innovation and the commercialization of research outcomes continue to receive

recognition.In the first half of 2026 in terms of marketing the Company remained committed to user value as its core focus

restructuring its customer engagement system user relationships and organizational capabilities around the user

journey to strengthen the foundation of its core business amid competition in the existing market. In the retail channel

the Company remained committed to “rebuilding growth momentum based on user needs” maintaining its leading

position in core product categories and continuously optimizing its high-end product mix. By upgrading in-store

experiences building a home decoration ecosystem engaging existing customers and expanding into local lifestyle

platforms the Company was strengthening the operational resilience of the existing market. For e-commerce

channels the Company strengthened user insights content-driven promotion and synergy with on-site conversion to

drive the development of a high-end product portfolio and the growth of emerging categories while enhancing thelevel of refined operations. For the developer channel the Company continued to deepen the “Cabinet-ApplianceIntegration” strategy focused on achieving breakthroughs in high-end projects and optimizing the customer base and

enhanced the capabilities in providing comprehensive kitchen appliance solutions for the entire home. For the

overseas channels the Company deepened the global footprint and localized operations strengthened operational

synergy between its subsidiaries in Indonesia and Malaysia steadily expanded into key markets in Asia and Africa

and enhanced the capabilities in cross-border operations and regional market development. The service system

showed gradual improvements with user satisfaction remaining at the industry-leading level. The Company

accelerated the adoption of smart tools refined proactive service and tiered management of existing users driving

synergistic improvements in both the service experience and business conversion. At the same time the Company

accelerated its strategy to popularize the brand “MingQi” strengthening synergy between online and offline channels

and expanding its distribution network enriching its portfolio of value-for-money products and further refining the

differentiated positioning of its “Robam” and “MingQi” dual-brand strategy. In the commercial kitchen business the

Company leveraged its professional expertise and industrial foundation in the kitchen appliance sector to focus on

developing three key business segments: government and corporate clients restaurant chains and e-commerce. The

11Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Company offered comprehensive end-to-end solutions for commercial kitchens covering independent R&D and

manufacturing customized development technical certification and service support. These solutions have already

been implemented in settings such as government and corporate cafeterias and restaurant chains and the Company’s

nationwide market expansion is proceeding in an orderly manner.In the first half of 2026 in terms of the production the Company focused on flexible supply full-chain

coordination cost leadership and quality improvement to drive the transformation of the supply chain from delivery

assurance to value creation and accelerate the development of a flexible ecosystem-based supply chain. In response

to the trends toward market diversification and fragmented orders the Company implemented flexible changes to its

production model to enhance its manufacturing and delivery capabilities for a wide variety of products in small

batches thereby meeting diverse demands while keeping production costs under control. It strengthened end-to-end

coordination across production supply and sales improved rapid response mechanisms and planning management

systems advanced the development of integrated information systems and planning and scheduling capabilities

enhanced planning accuracy and facilitated efficient coordination among demand procurement production

inventory and shipping. The Company shifted from single-point cost control to end-to-end optimal cost management

strengthening cost coordination across procurement manufacturing logistics and delivery. Through refined

operations it optimized its cost structure and solidified its cost competitiveness. The Company refined the end-to-end

quality management mechanisms around user touchpoints extended quality management from the product side to the

user side and improved the full-process management chain covering product design manufacturing product delivery

and user feedback thereby continuously enhancing product reliability and user satisfaction.In the first half of 2026 in terms of brand the Company focused on building a premier culinary brand adhering

to a dual-engine strategy of “technology + humanistic care” to evolve its brand positioning from a traditional kitchen

appliance expert to “your cooking partner.” The Company has adhered to a pragmatic approach of “no flashytechnology just real-world solutions” focusing on genuine culinary needs to advance the commercialization andpractical application of cutting-edge technologies and promoting the value proposition of “restoring culinaryfreedom to people.” The Company unveiled its smart cooking glasses at AWE 2026 and made an appearance at the

World AI Conference as a representative of the smart cooking sector. By showcasing its smart cooking products and

application achievements at key industry trade shows and technology platforms the Company strengthened its

brand’s reputation for technological innovation and professional image. In terms of cultural and content development

the Company has partnered with Xiaohongshu to continue building the “Quest for Freshness” brand IP. Through

initiatives such as the Quest for Fresh Longjing and slow livestreams the Company has collaborated with users to

12Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

explore regional flavors and the joys of cooking. These activities have garnered over 500 million impressions across

all platforms and generated more than 80000 user-generated content posts. At the same time the Company has

become an official partner of the 2026 Michelin Guide for Mainland China integrating the culinary expertise of

professional chefs into the “Culinary Master” and digital kitchen appliance experiences thereby further solidifying

the brand’s professional credibility in the culinary field. Through the mutual reinforcement of technological

experiences content operations and ecosystem partnerships the Company has continued to enrich the brand’s

essence—“cooking freedom joy of creation and fulfillment of a better life”—while deepening its emotional

connection with users and enhancing its brand influence and social value.In the first half of 2026 the Company continued to improve its corporate governance information disclosure

employee incentive and shareholder return mechanisms. The Company received an “A” (Excellent) in the

Information Disclosure Rating for Listed Companies by Shenzhen Stock Exchange marking the twelfth consecutive

year for receiving this rating. In terms of employee incentives the exercise conditions for the first exercise period of

the Company’s 2025 Stock Option Incentive Plan were met further solidifying the implementation of the regular

incentive mechanism. Regarding shareholder returns in accordance with the Shareholder Return Plan (2024–2026)the Company has continued its dividend strategy of “annual dividends in the first half of the year + interim dividendsin the second half of the year.” The 2025 profit distribution and the 2026 interim dividend amounted to a cash

dividend of RMB 5.00 (including tax) per 10 shares with total cash dividends for the year expected to reach RMB

945 million continuing to reward shareholders through a stable and predictable dividend mechanism.

II. Analysis of Core Competitiveness

There is no material change in the Company’s core competitiveness during the reporting period. The Company’s core

competitiveness is mainly reflected in its high-end brand positioning R&D capability for continuous innovation comprehensive

and efficient operation capability as shown in the Annual Report 2025.III. Analysis of Main Business

Overview

See the relevant content in the “I. Main Businesses during the Reporting Period”.Year-on-year changes in key financial data

In RMB

The reporting period The same period last YoY change Reason for change

13Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

year

Operating income 3972387199.38 4607524703.26 -13.78%

Operating costs 1964839571.74 2283762522.42 -13.96%

Sales expenses 1089904534.74 1249377013.90 -12.76%

Administrative

235361486.07206605747.8113.92%

expenses

Financial expenses -61649345.41 -69676130.73 11.52%

Income tax expense 104883916.74 134376892.39 -21.95%

This was primarily due

Net cash flow from to a decline in sales

-362290925.91511206760.85-170.87%

operating activities and a decrease in

payment collection.This was primarily due

to an increase in funds

Net cash flow from recovered from

1166565207.76-345226983.28437.91%

investment activities maturing bank fixed

term deposits and

financial products.Net cash flow from

-466095619.64-464932229.86-0.25%

financing activities

This was primarily due

Net increase in cash to the combined effect

336576845.44-299179971.34212.50%

and cash equivalents of changes in various

cash flow items.Major changes on profit composition or profit resources in reporting period

□Applicable□Not applicable

No major changes on profit composition or profit resources occurred in reporting period

Composition of operating income

In RMB

The reporting period The same period last year

% of operating % of operating YoY change

Amount Amount

income income

Total operating

3972387199.38100%4607524703.26100%-13.78%

income

By industry

Kitchen and

bathroom 3856285331.43 97.08% 4498866991.01 97.64% -14.28%

appliances

Other operating

116101867.952.92%108657712.252.36%6.85%

income

By product

Environment

product line:

Range hood 1971708236.17 49.64% 2205199571.60 47.86% -10.59%

Cooking appliance

line:

Gas stove 988230835.36 24.88% 1156313826.74 25.10% -14.54%

Combi-steam oven 285239744.06 7.18% 299806829.45 6.51% -4.86%

Integrated stove 36134462.19 0.91% 100243773.64 2.18% -63.95%

Steam oven 8909145.20 0.22% 17267264.88 0.37% -48.40%

Baking oven 7419520.27 0.19% 14236952.79 0.31% -47.89%

14Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Cleaning and

storage product

line:

Dishwasher 270967874.16 6.82% 337558765.74 7.33% -19.73%

Water heater 100673927.75 2.53% 106570335.60 2.31% -5.53%

Disinfection

78334421.031.97%121857006.832.64%-35.72%

cabinet

Water purifier 9020035.53 0.23% 14310042.80 0.31% -36.97%

Other Categories

Kitchen cabinet 77379470.97 1.95% 102049473.06 2.21% -24.17%

Other small

22267658.740.56%23453147.880.51%-5.05%

appliances

Other operating

116101867.952.92%108657712.252.36%6.85%

income

By region

East China 1647049699.62 41.47% 2148385617.34 46.63% -23.34%

South China 480801254.09 12.10% 551644073.12 11.97% -12.84%

Central China 494580143.91 12.45% 450059047.37 9.77% 9.89%

North China 552537467.69 13.91% 562967521.52 12.22% -1.85%

Northeast China 220121959.20 5.54% 229029942.36 4.97% -3.89%

Northwest China 293896574.66 7.40% 291781638.55 6.33% 0.72%

Southwest China 231595050.56 5.83% 330009393.98 7.16% -29.82%

Overseas 51805049.65 1.30% 43647469.02 0.95% 18.69%

Industries products and regions accounting for more than 10% of the Company’s operating income or profit

□Applicable □Not applicable

In RMB

YoY change in YoY change in

Gross YoY change in

Operating income Operating costs operating the gross

margin operating costs

income margin

By industry

Kitchen

and

3856285331.431907371654.2650.54%-14.28%-14.30%0.01%

bathroom

appliances

By product

Range

1971708236.17929446723.6552.86%-10.59%-9.54%-0.55%

hood

Gas stove 988230835.36 422296463.03 57.27% -14.54% -18.73% 2.21%

By region

East China 1647049699.62 725748412.38 55.94% -23.34% -23.54% 0.12%

South

480801254.09270675280.4843.70%-12.84%-11.95%-0.57%

China

North

552537467.69280393643.5349.25%-1.85%-5.45%1.93%

China

Main business data of the Company in the recent reporting period according to adjusted statistical caliber at the end of the

reporting period is applied in case that the statistical caliber of such data is adjusted during the reporting period

□Applicable□Not applicable

IV. Analysis of Non-core Business

□Applicable□Not applicable

15Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

V. Analysis of Assets and Liabilities

1. Major changes in asset composition

In RMB

End of the reporting period End of last year

Note on

% of Change in

% of total significant

Amount total Amount percentage

assets changes

assets

Cash and cash

1569931346.249.48%1236257860.537.18%2.30%

equivalents

Accounts

1600748816.279.67%1501774623.238.73%0.94%

receivable

Inventory 1418951648.01 8.57% 1360022769.09 7.90% 0.67%

Investment

78650988.150.48%81013670.910.47%0.01%

properties

Long-term

equity 3998179.24 0.02% 4395119.95 0.03% -0.01%

investment

Fixed assets 2131092604.48 12.88% 2173675186.21 12.63% 0.25%

Construction in

28427693.170.17%46511377.400.27%-0.10%

process

Right-of-use

7014165.530.04%8102992.490.05%-0.01%

assets

Short-term

105220163.890.64%97738579.050.57%0.07%

borrowings

Contract

905147385.405.47%932559161.315.42%0.05%

liabilities

Lease liabilities 6927697.49 0.04% 7867003.07 0.05% -0.01%

2. Main overseas assets

□Applicable□Not applicable

3. Assets and liabilities measured at fair value

□Applicable □Not applicable

In RMB

Gains and Cumulative

Impairment

losses from fair value Purchases Disposals

Opening provision Other Closing

Item fair value changes for the for the

balance for the changes balance

changes for recognized period period

period

the period in equity

Financial

assets

1. Trading

financial 32300000 26400000

assets 00.00 00.00

(excluding

16Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

derivative

financial

assets)

2. Other

equity

2116023.2

instrument

2

investment

s

Subtotal of 32300000 26421160

the above 00.00 23.22

Financial

0.000.00

liabilities

Other changes

Whether there were significant changes in the measurement attributes of the Company's major assets during the reporting period

□ Yes□No

4. Restricted asset rights by the end of the reporting period

In RMB

Item Ending balance

Book balance Carrying value Type ofrestriction Restrictions

Cash and cash

equivalents 59235811.47 59235811.47

L/G margin

deposit —

Cash and cash Bank acceptance

equivalents 4860000.16 4860000.16 bill margin —deposit

Cash and cash

equivalents 14000.00 14000.00 ETC deposit —

Fixed assets 152993151.92 121382819.33 Mortgage loan —

Intangible assets 34367725.00 29847674.90 Mortgage loan —

Total 251470688.55 215340305.86 — —

VI. Analysis of Investment

1. Overview

□Applicable□Not applicable

2. Major equity investments obtained during the reporting period

□Applicable□Not applicable

3. Major ongoing non-equity investments during the reporting period

□Applicable□Not applicable

17Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

4. Financial asset investment

(1) Securities investment

□Applicable□Not applicable

The Company had no securities investment during the reporting period.

(2) Derivative investment

□Applicable□Not applicable

The Company had no derivatives investment during the reporting period.

5. Use of the raised funds

□Applicable□Not applicable

The Company did not use the raised funds during the reporting period.VII. Sale of Major Assets and Equities

1. Sale of major assets

□Applicable□Not applicable

The Company did not sell major assets during the reporting period.

2. Sale of major equities

□Applicable□Not applicable

VIII. Analysis of Main Holding and Joint-stock Companies

□Applicable □Not applicable

Main subsidiaries and joint-stock companies affecting more than 10% of the Company’s net profit

In RMB

Company Company Main Registered Operating Operating

Total assets Net assets Net profit

name type business capital income profit

Beijing

Sales of

Robam

kitchen

Appliances Subsidiary 5000000.00 49219668.99 22432322.52 107759364.89 -5677434.42 -5702980.18

applianc

Sales Co.es

Ltd.Shanghai

Sales of

Robam

kitchen

Appliances Subsidiary 5000000.00 72549378.60 -29754651.76 167302501.24 114110.20 122965.72

applianc

Sales Co.es

Ltd.Hangzhou Sales of

MingQi kitchen

Subsidiary 50000000.00 237330097.04 58055190.55 238447750.98 7294985.49 7385993.13

Electric Co. applianc

Ltd. es

Shengzhou Subsidiary Producti 24653061.00 314643848.19 132412451.78 24584328.69 -6250737.68 -6365783.71

18Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Kinde on and

Intelligent sales of

Kitchen kitchen

Appliances applianc

Co. Ltd. es

Hangzhou

Sales of

Jinhe

kitchen

Electric Subsidiary 10000000.00 106298380.50 34731991.06 157099848.59 1419561.38 1036056.10

applianc

Appliances

es

Co. Ltd.Hangzhou Sales of

Robam E- kitchen

Subsidiary 10000000.00 181835272.19 24823713.04 452548768.61 8963988.95 6085879.29

commerce applianc

Co. Ltd. es

Acquisition and disposal of subsidiaries during the reporting period

□Applicable□Not applicable

Description of main holding and joint-stock companies

IX. Structured Entities Controlled by the Company

□Applicable□Not applicable

X. Risks Faced and Countermeasures Taken by the Company

(1) Risk of fluctuations in the real estate market

The Company has been engaged in the kitchen appliances business for a long time offering various kitchen appliances such

as range hoods gas stoves dishwashers combi-steam oven disinfection cabinets integrated stoves etc. The demands for kitchen

appliances are closely related to the kitchen decoration with certain “decoration” and “furniture” attributes. At present the

demand for our main products is still to some extent related to the real estate market. The Company is able to resist the market

fluctuations by virtue of its market leadership although fluctuations in the real estate market will still have an impact on the

Company’s operating performances.

(2) Risk of price fluctuation of raw materials

The main raw materials of the Company’s equipment are stainless steel cold-rolled sheet copper and glass etc. whose price

fluctuations will directly affect the cost of the Company’s products and in turn have an impact on its profitability.

(3) Risk of intensified market competition

In recent years due to the tightening macro environment of the kitchen appliance industry the continuous increase in

industry concentration the comprehensive brands' and e-commerce brands' increasing investment in the kitchen appliance market

and the decline in people’ consumption willingness the market competition in the kitchen appliances industry has become

increasingly fierce and the intensification of market competition will have a certain impact on the Company’s operating

performances.

19Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

XI. Formulation and Implementation of Market Value Management System and Valuation

Enhancement Plan

Whether the Company has established a market value management system:

□Yes □No

Whether the Company has disclosed a valuation enhancement plan:

□ Yes□No

On December 24 2024 the Company convened the 12th meeting of the 6th Board of Directors which reviewed and approved the

proposal on the formulation of the Market Value Management System of Hangzhou Robam Appliances Co. Ltd.XII. Implementation of the “Dual Improvement in Quality and Returns” Action Plan

Whether the Company has disclosed the announcement of the “Dual Improvement in Quality and Returns” action plan:

□Yes □No

In alignment with its development strategy and operational planning and in order to safeguard the interests of allshareholders enhance investor confidence and support high-quality development the Company has formulated the “DualImprovement in Quality and Returns” action plan with the following key measures:

1. Focusing on core business and fulfilling the mission to achieve high-quality development

Robam Appliances has been dedicated to the cooking industry for over 40 years. In the past present and future the Company

remains committed to leading the transformation of cooking by promoting digital cooking technologies and providing customized

integrated hardware and software solutions for individuals and households. By integrating upstream and downstream resources

across the cooking industry chain and building a multi-brand full-category portfolio the Company aims to benefit more

households. Through its proprietary intelligent cooking curves it applies precise control of temperature and time to every stage of

cooking ensuring both taste and nutritional value while improving efficiency and precision. The Company seeks to lower the

barriers to cooking enabling people to enjoy the creative process strengthen family and social bonds and contribute to a more

harmonious society while preserving and advancing culinary culture.As a “provider of integrated full-chain cooking solutions” the Company has in response to the national strategy of fostering

new quality productive forces proactively undertaken social responsibility and explored new paths for self-transformation and

industry development. Upholding the entrepreneurial spirit of “innovation responsibility and pragmatism” the Company remains

focused on its core business continuously pursuing breakthroughs and long-term development in the kitchen appliance sector.This long-term commitment has driven performance growth enabling the Company to become a leading enterprise in China’s

kitchen appliance industry and to continue leading industry transformation and innovation.

2. Enhancing information disclosure quality and standardizing corporate governance

20Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

The information disclosure mechanism of listed companies is critical to ensuring market transparency and fairness. Over the

years the Company has strictly complied with relevant laws regulations and regulatory requirements in fulfilling its information

disclosure obligations while continuously improving its disclosure management system to ensure that disclosures are true

accurate complete timely and fair. The Company also proactively enhances disclosure of key information including industry

trends business developments and risk factors thereby improving disclosure quality. Since 2013 the Company has received an

“A” rating in the Shenzhen Stock Exchange information disclosure assessment for twelve consecutive years. In addition the

Company places strong emphasis on communicating diversified intrinsic value to investors having voluntarily disclosed nine CSR

Reports and five ESG Reports to date.

3. Safeguarding shareholder interests and demonstrating long-term value

Since its listing in 2010 Robam Appliances has maintained stable annual dividend distributions consistently prioritizing

investor interests. In December 2023 the Company announced a special dividend plan which was implemented the following

month. Following the issuance of the new “Nine Guidelines for Capital Market” the Company institutionalized special dividends

and in April 2024 released the Shareholder Return Plan for the Next Three Years (2024–2026) which clearly stipulates two cash

dividend distributions per year (one in each half of the year) with a payout ratio of no less than 50% subject to steady increases

based on operating conditions. The Company will continue to maintain stable profit distribution expand communication channels

for investor participation in dividend decisions and uphold a long-term stable shareholder return mechanism.

4. Strengthening investor relations management and enhancing capital market value

The Company attaches great importance to investor relations management and continuously strengthens communication

with investors to better convey and enhance its investment value. Through multiple channels—including performance briefings

investor open days on-site visits dedicated investor hotlines and the Shenzhen Stock Exchange’s “Hudongyi” platform

(irm.cninfo.com.cn)—the Company fosters effective engagement with investors enhances transparency in operations and

management and improves investor recognition of its value thereby increasing its capital market value. For overseas investor

relations the Company aligns with the long-term investment style of international value investors and conducts regular roadshows

while timely disclosing English versions of periodic reports and ESG reports. Looking ahead the Company will continue to fulfill

its responsibilities as a listed company steadfastly implement its strategic development plan enhance core competitiveness and

promote high-quality sustainable development. It will further strengthen its commitment to creating shareholder value and

improving returns adhere to an investor-oriented value philosophy actively implement the guiding principles of the PoliticalBureau of the CPC Central Committee meeting and the executive meeting of the State Council and rigorously execute its “DualImprovement of Quality and Returns” action plan thereby reinforcing investor confidence and contributing to the healthy and

sustainable development of the capital market.

21Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Section 4 Corporate Governance Environment and Society

I. Changes in Directors or Senior Management During the Reporting Period:

□Applicable□Not applicable

There was no change in directors and senior management of the Company during the reporting period. For details please refer to

the Annual Report 2025.II. Profit Distribution and Conversion of Capital Reserve into Capital Stock during the

Reporting Period

□Applicable □Not applicable

Number of bonus shares per 10 shares (shares) 0

Dividend per 10 shares (RMB) (including tax) 5

The share capital base for the distribution plan (shares) 944992916

Cash dividend amount (RMB) (including tax) 472496458.00

Cash dividend amount by other means (e.g. share repurchase)

0.00

(RMB)

Total cash dividend amount (including other methods) (RMB) 472496458.00

Distributable profit (RMB) 10131941794.29

Proportion of total cash dividends (including other methods) to

100%

total profit distribution

Cash dividend distribution for this time

Where the Company is in a mature development stage and has no significant capital expenditure arrangements the cash dividend

proportion in the current profit distribution should not be less than 80%.Detailed explanation of profit distribution and capital reserve conversion plan

The Company plans to distribute a cash dividend of RMB 5 (including tax) per 10 shares to all shareholders based on the

total share capital of 944992916 shares. The total amount of dividends to be distributed is RMB 472496458.00.If the Company’s share capital changes due to reasons such as new shares being listed stock option exercises convertible

bonds being converted into shares or share repurchases between the announcement of the distribution plan and the equity

registration date for the dividend distribution the total distribution amount will be adjusted accordingly based on the principle of

maintaining a constant per-share cash dividend.III. Implementation of the Equity Incentive Plan Employee Stock Ownership Plan or other

Employee Incentives

□Applicable □Not applicable

1. Equity incentive

I. Overview of the Company’s 2023 stock option incentive plan

1. On April 25 2023 the Company held the 14th Meeting of the 5th Board of Directors during which the Proposal on 2023

Stock Option Incentive Plan (Draft) of the Company and Its Summary and other related proposals were reviewed and approved

and the independent directors expressed their independent opinions on and approved the matters related to the Company’s stock

22Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

option incentive plan. The 14th meeting of the 5th Board of Supervisors of the Company reviewed and approved the above-

mentioned proposals and expressed its concurring opinion. The Company disclosed the above matters on April 26 2023.

2. From April 26 2023 to May 8 2023 the Company internally disclosed the names and titles of the incentive targets of the

stock option incentive plan. On May 9 2023 the Company’s Board of Supervisors published the Review Opinions of the Board of

Supervisors on the List of Incentive Recipients of the Stock Option Incentive Plan in 2023 and Explanation on the Publicity. On the

same day the Company disclosed the Self-inspection Report on the Purchase and Sale of the Company’s Shares by Insiders and

Incentive Targets of the Stock Option Incentive Plan in 2023.

3. On May 18 2023 the Company held its annual general meeting of shareholders for 2022 which reviewed and approved

the Proposal on the Company’s 2023 Stock Option Incentive Plan (Draft) and Its Summary among other related proposals. This

plan was approved at the Company’s annual general meeting of shareholders in 2022 and the board of directors was authorized to

determine the grant date for stock options. The board is also responsible for granting stock options to eligible incentive recipients

and handling all matters necessary for granting these stock options.

4. On June 20 2023 the 15th meeting of the 5th Board of Directors and the 15th meeting of the 5th Board of Supervisors of

the Company reviewed and approved the Proposal on Granting Stock Options to Incentive Recipients. The Board of Supervisors

verified the list of incentive recipients again and expressed its concurring opinion and the independent directors of the Company

expressed their independent opinion on it.

5. On April 24 2024 the Company held the 5th meeting of the 6th Board of Directors and the 5th meeting of the 6th Board

of Supervisors which reviewed and approved the Proposal on the Cancellation of Part of the Stock Options under the 2023 Stock

Option Incentive Plan and other proposals. The Board of Supervisors has verified this and expressed its concurring opinion.

6. On June 20 2024 the Company held the 8th meeting of the 6th Board of Directors and the 8th meeting of the 6th Board

of Supervisors which reviewed and approved the Proposal on the Achievement of Exercise Conditions for the First Exercise

Period of the 2023 Stock Option Incentive Plan and the Proposal on Adjusting the Exercise Price of the 2023 Stock Option

Incentive Plan. The Board of Supervisors has verified this and expressed its concurring opinion.

7. On August 30 2024 the Company held the 10th meeting of the 6th Board of Directors and the 10th meeting of the 6th

Board of Supervisors which reviewed and approved the Proposal on Adjusting the Exercise Price of the 2023 Stock Option

Incentive Plan.

8. On June 4 2025 the Company held the 15th meeting of the 6th Board of Directors and the 14th meeting of the 6th Board

of Supervisors which reviewed and approved the Proposal on Adjusting the Exercise Price of the 2023 Stock Option Incentive

Plan.

23Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

9. On June 30 2025 the Company held the 16th meeting of the 6th Board of Directors and the 15th meeting of the 6th

Board of Supervisors which reviewed and approved the Proposal on the Cancellation of Part of the Stock Options under the 2023

Stock Option Incentive Plan and other proposals.

10. On September 18 2025 the Company held the 18th meeting of the 6th Board of Directors and the 17th meeting of the

6th Board of Supervisors which reviewed and approved the Proposal on Adjusting the Exercise Price of the 2023 Stock Option

Incentive Plan.

11. On April 28 2026 the Company held the 21st meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Cancellation of Part of the Stock Options under the 2023 Stock Option Incentive Plan and other proposals. The

Board of Directors' Compensation and Evaluation Committee verified this and expressed its concurring opinion.II. Overview of the Company’s 2024 stock option incentive plan

1. On April 24 2024 the Company held the 5th meeting of the 6th Board of Directors which reviewed and approved the

Proposal on 2024 Stock Option Incentive Plan (Draft) of the Company and Its Summary the Proposal on the Implementation and

Assessment Measures for the Company's 2024 Stock Option Incentive Plan the Proposal to Request the Shareholders’ Meeting to

Authorize the Board of Directors to Handle Matters Related to Stock Option Incentives and other proposals.On the same day the Company held the 5th meeting of the 6th Board of Supervisors which reviewed and approved the

Proposal on 2024 Stock Option Incentive Plan (Draft) of the Company and Its Summary the Proposal on the Implementation and

Assessment Measures for the Company's 2024 Stock Option Incentive Plan the Proposal on the Verification of the List of

Incentive Recipients under the Company's 2024 Stock Option Incentive Plan and other proposals and expressed its concurring

opinion. The Company disclosed the above matters on April 25 2024.

2. From April 26 2024 to May 06 2024 the Company internally disclosed the names and titles of the incentive recipients

of the stock option incentive plan. On May 08 2024 the Company’s Board of Supervisors published the Review Opinions of the

Board of Supervisors on the List of Incentive Recipients of the Stock Option Incentive Plan in 2024 and Explanation on the

Publicity. On the same day the Company disclosed the Self-inspection Report on the Purchase and Sale of the Company’s Shares

by Insiders and Incentive Targets of the Stock Option Incentive Plan in 2024.

3. On May 16 2024 the Company held its annual general meeting of shareholders for 2023 which reviewed and approved

the Proposal on the Company’s 2024 Stock Option Incentive Plan (Draft) and Its Summary among other related proposals. This

plan was approved at the Company’s annual general meeting of shareholders in 2023 and the Board of Directors was authorized

to determine the grant date for stock options. The board is also responsible for granting stock options to eligible incentive

recipients and handling all matters necessary for granting these stock options.

24Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

4. On May 20 2024 the 6th meeting of the 6th Board of Directors and the 6th meeting of the 6th Board of Supervisors of

the Company reviewed and approved the Proposal on Adjusting the List of Incentive Recipients and the Number of Grants for the

2024 Stock Option Incentive Plan and the Proposal on Granting Stock Options to Incentive Recipients. The proposal was reviewed

and approved at the 6th meeting of the Remuneration and Assessment Committee of the 6th Board of Directors of the Company in

2024. The Board of Supervisors also re-verified the list of incentive recipients and expressed its concurring opinion.

5. On April 28 2025 the Company held the 13th meeting of the 6th Board of Directors and the 12th meeting of the 6th

Board of Supervisors which reviewed and approved the Proposal on the Cancellation of Part of the Stock Options under the 2024

Stock Option Incentive Plan and other proposals. The Board of Supervisors has verified this and expressed its concurring opinion.

6. On June 4 2025 the Company held the 15th meeting of the 6th Board of Directors and the 14th meeting of the 6th Board

of Supervisors which reviewed and approved the Proposal on Adjusting the Exercise Price of the 2024 Stock Option Incentive

Plan.

7. On September 18 2025 the Company held the 18th meeting of the 6th Board of Directors and the 17th meeting of the

6th Board of Supervisors which reviewed and approved the Proposal on Adjusting the Exercise Price of the 2024 Stock Option

Incentive Plan.

8. On April 28 2026 the Company held the 21st meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Cancellation of Part of the Stock Options under the 2024 Stock Option Incentive Plan and other proposals. The

Board of Directors' Compensation and Evaluation Committee verified this and expressed its concurring opinion.III. Overview of the Company’s 2025 stock option incentive plan

1. On April 28 2025 the Company held the 13th meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Company’s 2025 Stock Option Incentive Plan (Draft) and Its Summary the Proposal on the Implementation and

Assessment Measures for the Company's 2024 Stock Option Incentive Plan the Proposal to Request the Shareholders’ Meeting to

Authorize the Board of Directors to Handle Matters Related to Stock Option Incentives and other proposals.On the same day the Company held the 12th meeting of the 6th Board of Supervisors which reviewed and approved the

Proposal on the Company’s 2025 Stock Option Incentive Plan (Draft) and Its Summary the Proposal on the Implementation and

Assessment Measures for the Company's 2025 Stock Option Incentive Plan the Proposal on the Verification of the List of

Incentive Recipients under the Company's 2025 Stock Option Incentive Plan and other proposals and expressed its concurring

opinion. The Company disclosed the above matters on April 29 2025.

2. From April 29 2025 to May 8 2025 the Company internally disclosed the names and titles of the incentive recipients of

the stock option incentive plan. On May 10 2025 the Company’s Board of Supervisors published the Review Opinions of the

Board of Supervisors on the List of Incentive Targets of the Stock Option Incentive Plan in 2025 and Explanation on the Publicity.

25Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

3. On May 19 2025 the Company held its annual general meeting of shareholders for 2024 which reviewed and approved

the Proposal on the Company’s 2025 Stock Option Incentive Plan (Draft) and Its Summary among other related proposals. This

plan was approved at the Company’s annual general meeting of shareholders in 2024 and the Board of Directors was authorized

to determine the grant date for stock options. The board is also responsible for granting stock options to eligible incentive

recipients and handling all matters necessary for granting these stock options. The Company disclosed the above matters on May

20 2025. On the same day the Company disclosed the Self-inspection Report on the Purchase and Sale of the Company’s Shares

by Insiders and Incentive Targets of the Stock Option Incentive Plan in 2025.

4. On May 23 2025 the 14th meeting of the 6th Board of Directors and the 13th meeting of the 6th Board of Supervisors of

the Company reviewed and approved the Proposal on Granting Stock Options to Incentive Recipients. The proposal was reviewed

and approved at the 6th meeting of the Remuneration and Assessment Committee of the 6th Board of Directors of the Company

and the Board of Supervisors and the Remuneration and Assessment Committee of the Board of Directors verified the list of

incentive recipients and expressed their concurring opinions.

5. On June 30 2025 the Company held the 16th meeting of the 6th Board of Directors and the 15th meeting of the 6th

Board of Supervisors which reviewed and approved the Proposal on Adjusting the Exercise Price of the 2025 Stock Option

Incentive Plan.

6. On September 18 2025 the Company held the 18th meeting of the 6th Board of Directors and the 17th meeting of the

6th Board of Supervisors which reviewed and approved the Proposal on Adjusting the Exercise Price of the 2025 Stock Option

Incentive Plan.

7. On April 28 2026 the Company held the 21st meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Cancellation of Part of the Stock Options under the 2025 Stock Option Incentive Plan and other proposals. The

Board of Directors' Compensation and Evaluation Committee verified this and expressed its concurring opinion.

8. On May 22 2026 the Company held the 22nd meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Achievement of Exercise Conditions for the First Exercise Period of the 2025 Stock Option Incentive Plan and

other proposals. The Board of Directors’ Compensation and Evaluation Committee verified this and issued its opinion.

2. Implementation of the employee stock ownership plan

□Applicable□Not applicable

3. Other employee incentive plans

□Applicable □Not applicable

26Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

I. Overview of the Company’s phase II partner equity ownership plan

On April 24 2024 the Company held the 5th meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Company's Phase II Partner Equity Ownership Plan (Draft) and Its Summary among other related proposals. The

5th Meeting of the 6th Board of Supervisors of the Company reviewed and approved the above-mentioned proposal and expressed

its concurring opinion. The Company disclosed the above matters on April 25 2024.On May 16 2024 the Company held its annual shareholder meeting for the year 2023 which reviewed and approved the

Proposal on the Company's Phase II Partner Equity Ownership Plan (Draft) and other related proposals. This plan was approved

by the Company's annual shareholder meeting for the year 2023 authorizing the board of directors to decide on or handle matters

related to this plan.

3. On April 29 2025 the Company disclosed the Announcement on the Failure to Meet the Assessment Conditions for the

2024 Phase II Partner Equity Ownership Plan. According to the relevant provisions of the ownership plan the assessment

conditions for the 2024 Phase II Partner Equity Ownership Plan were not met and the Company will not allocate the special fund

for the ownership plan for that year.

4. On April 29 2026 the Company disclosed the Announcement on the Failure to Meet the Assessment Conditions for the

2025 Phase II Partner Equity Ownership Plan. According to the relevant provisions of the ownership plan the assessment

conditions for the 2024 Phase II Partner Equity Ownership Plan were not met and the Company will not allocate the special fund

for the ownership plan for that year.IV. Disclosure of Environmental Information

Whether the listed company and its major subsidiaries are included in the list of entities required to disclose environmental

information in accordance with laws and regulations

□ Yes□No

V. Social Responsibility

For details please refer to the 2025 Environmental Social and Governance (ESG) Report disclosed by the Company on the

designated information disclosure platform (CNINFO).

27Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Section 5 Significant Matters

I. Commitments made by the Company’s actual controllers shareholders affiliates

purchasers and the Company itself and other relevant parties already fulfilled during the

reporting period and not yet fulfilled at the end of the reporting period

□Applicable□Not applicable

There were no commitments made by the Company’s actual controllers shareholders affiliates purchasers and the Company

itself and other relevant parties already fulfilled during the reporting period and not yet fulfilled at the end of the reporting period

II. Non-operating Occupation of Funds of the Listed Company by the Controlling

Shareholder and Other Affiliated Parties

□Applicable□Not applicable

There was no non-operating occupation of funds of the listed company by the controlling shareholder and other affiliated parties

during the reporting period.III. Illegal External Guarantee

□Applicable□Not applicable

There is no illegal external guarantee during the reporting period.IV. Appointment and Dismissal of Accounting Firm

Whether the semi-annual financial report has been audited

□ Yes□No

The semi-annual financial report of the Company has not been audited.V. Statements of the Board of Directors on the “Non-standard Audit Report” Issued by the

Accounting Firm for the Reporting Period

□Applicable□Not applicable

VI. Statements of the Board of Directors on the “Non-standard Audit Report” for the Last

Year

□Applicable□Not applicable

VII. Matters Related to Bankruptcy Reorganization

□Applicable□Not applicable

The Company did not have any matters related to bankruptcy reorganization during the reporting period.

28Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

VIII. Litigation Matters

Material litigation and arbitration

□Applicable□Not applicable

The Company had no material litigation and arbitration during the reporting period.Other litigation matters

□Applicable□Not applicable

IX. Punishment and Rectification

□Applicable□Not applicable

There was no penalty or rectification during the reporting period.X. Integrity Conditions of the Company and its Controlling Shareholders

□Applicable□Not applicable

XI. Major Connected Transactions

1. Connected transactions concerning daily operations

□Applicable□Not applicable

The Company had no connected transactions concerning daily operations during the reporting period.

2. Connected transactions related to the acquisition or sales of assets or equity

□Applicable□Not applicable

The Company had no connected transactions related to the acquisition or sales of assets or equity during the reporting period.

3. Connected transactions related to joint outward investment

□Applicable□Not applicable

The Company had no connected transactions related to joint outward investment during the reporting period.

4. Connected transactions on credit and debt

□Applicable□Not applicable

The Company had no connected transactions on credit and debt during the reporting period.

5. Transactions with connected finance companies

□Applicable□Not applicable

There were no deposits loans credits or other financial operations between the Company and connected finance companies and

affiliates.

29Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

6. Transactions between finance companies controlled by the Company and affiliates

□Applicable□Not applicable

There were no deposits loans credits or other financial operations between finance companies controlled by the Company and

affiliates.

7. Other major connected transactions

□Applicable□Not applicable

There were no other major connected transactions during the reporting period.XII. Major Contracts and Their Performance

1. Entrustment contracting and leasing

(1) Entrustment

□Applicable□Not applicable

The Company had no entrustment during the reporting period.

(2) Contracting

□Applicable□Not applicable

There was no contracting during the reporting period.

(3) Leasing

□Applicable□Not applicable

There was no leasing during the reporting period.

2. Material guarantee

□Applicable□Not applicable

The Company had no material guarantee during the reporting period.

3. Financial management entrusting

□Applicable □Not applicable

Unit: RMB 10000

Balance of entrusted finance Overdue amount not

Product category Risk profile

during the reporting period recovered

Bank financial products Low to Moderate Risk 224000 0

Other Categories Moderate risk 40000 0

Specific circumstances where the Company as a single principal entrusts financial institutions with asset management or invests

in high-risk financial management products with lower safety and liquidity

□Applicable□Not applicable

30Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

4. Other material contracts

□Applicable□Not applicable

The Company had no other material contracts during the reporting period.XIII. Registration Form for Receiving Researches Communications Interviews and Other

Activities during the Reporting Period

□Applicable □Not applicable

Key topics and

Ways of Type of

Date Location Participants materials Reference

reception participants

providedSee “Investor See “InvestorOnline Relations Relations

Panorama

May 13 2026 communication Individual Individual Activity Record Activity Record

Network

via platform (May 13 (May 13

2026)”2026)”See “Investor See “InvestorRelations Relations

May 21 2026 In the Company On-site visit Organization Organization Activity Record Activity Record

(May 21 (May 21

2026)”2026)”

XIV. Explanation of Other Significant Matters

□Applicable□Not applicable

The Company had no other significant matters that need to be explained during the reporting period.XV. Significant Matters of Subsidiaries of the Company

□Applicable□Not applicable

31Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Section 6 Changes in Shares and Shareholders

I. Changes in Shares

1. Changes in shares

Unit: share

Before change Change (+. -) After change

Shares

Issue of converted

Percentag Bonus Percentag

Quantity new from Others Subtotal Quantity

e (%) shares e (%)

shares capital

reserve

I. Shares

subject to

11387121138712

sales 1.21% 1.21%

99

restriction

s

1.

Shares

held by

the state

2.

Shares

held by

the state-

owned

legal

persons

3.

Shares

held by 1138712 1138712

1.21%1.21%

other 9 9

domestic

investors

Inclu

ding:

shares

held by

domestic

legal

persons

Inclu

ding:

shares

11387121138712

held by 1.21% 1.21%

99

domestic

natural

persons

4.

32Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Shares

held by

overseas

investors

Inclu

ding:

shares

held by

overseas

legal

persons

Shar

es held by

overseas

natural

persons

II. Shares

without

93355179335967

sales 98.79% 45000 45000 98.79%

8787

restriction

s

1.

RMB 9335517 9335967

98.79%450004500098.79%

ordinary 87 87

shares

2.

Domestic

ally listed

foreign

shares

3.

Overseas

listed

foreign

shares

4.

Others

III. Total 9449389 9449839

100.00%4500045000100.00%

shares 16 16

Reason for share changes

□Applicable □Not applicable

This was due to the exercise of 45000 shares by the incentive targets in the 2025 Stock Option Incentive Plan.Approval of changes in shares

□Applicable□Not applicable

Transfer of ownership of changes in shares

□Applicable□Not applicable

Progress in the implementation of shares repurchase

□Applicable□Not applicable

Progress of transferring repurchased shares by means of centralized bidding

33Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

□Applicable□Not applicable

The impact of changes in shareholding on the financial indicators such as basic earnings per share (EPS) diluted EPS and net

assets per share attributable to common shareholders for the latest year and the latest period.□Applicable□Not applicable

Other information deemed necessary by the Company or required to be disclosed by securities regulatory authorities.□Applicable□Not applicable

2. Changes in shares subject to sales restrictions

□Applicable□Not applicable

II. Securities Issuance and Listing

□Applicable□Not applicable

III. Number of Shareholders of the Company and Their Shareholdings

Unit: share

Total number of preference

Total number of common

shareholders with voting rights

shareholders at the end of the 46067 0

recovered at the end of the reporting

reporting period

period (if any) (see Note 8)

Shareholdings of shareholders holding more than 5% of the Company’s shares or top 10 shareholders (excluding share lent through

refinancing)

Number Pledged marked or

Number of

Shar Number of shares Change of shares frozen shares

shares not

Name of Nature of ehol held at the end of during the subject to

subject to

shareholder shareholder ding the reporting reporting sales

sales Quantit

ratio period period restriction Status

restrictions y

s

Hangzhou Domestic

Robam non-state- 49.9 Not

47151000000471510000

Industrial owned 0% Applicable

Group Co. Ltd. corporation

Hong Kong

Securities -

Overseas 4.11 Not

Clearing 38799656 2401558 0 38799656

corporation % Applicable

Company 2

Limited

China

Merchants

Bank Co. Ltd. -

ICBC Credit

1.64 Not

Suisse Value Others 15473952 214426 0 15473952

% Applicable

Selected Hybrid

Securities

Investment

Fund

Domestic

1.30 Not

Shen Guoying natural 12240000 0 0 12240000

% Applicable

person

Industrial State-owned 0.97 9193000 4296500 0 9193000 Not

34Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Securities Co. corporation % Applicable

Ltd.China Life

Insurance

(Group)

Company -

Traditional -

Ordinary 0.94 Not

Others 8906200 0 0 8906200

Insurance % Applicable

Products -

Hong Kong

Stock Connect

(Innovative

Strategy)

China Pacific

Life Insurance

Co. Ltd.－

0.72 Not

Traditional－ Others 6786700 252400 0 6786700

% Applicable

Ordinary

Insurance

Products

Hangzhou Domestic

Jinchuang non-state- 0.70 Not

6640085006640085

Investment Co. owned % Applicable

Ltd. corporation

Schroder

Investment

Management

(Hong Kong)

Limited - Overseas 0.68 Not

6435300006435300

Schroder corporation % Applicable

Global Equity

Fund China A-

Shares

(Exchange)

Hangzhou Domestic

Yinchuang non-state- 0.67 Not

6318000006318000

Investment Co. owned % Applicable

Ltd. corporation

Strategic investor or general

legal person who becomes one

of the top 10 shareholders due N/A

to rights issue (if any) (see

Note 3)

Description of the associated Mr. Ren Jianhua is the actual controller of the controlling shareholder of the Company -

relationship or consistent Hangzhou Robam Industrial Group Co. Ltd. and the shareholder of the Company - Hangzhou

actions of the above Jinchuang Investment Co. Ltd.; and the natural person shareholder Shen Guoying is his wife.shareholders Therefore there is a possibility that these shareholders will act in concert.Statements of the above

shareholders on proxy/trustee

N/A

voting rights and abstention

from voting rights

Special note on the presence of

repurchase accounts among the

N/A

top 10 shareholders (if any)

(see Note 11)

35Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Shareholdings of the top 10 shareholders not subject to sales restrictions (excluding shares lent through refinancing and executive

locked shares)

Type of share

Number of shares without sales restrictions held at the end of the

Name of shareholder

reporting period Type of Quantit

share y

RMB

Hangzhou Robam Industrial 471510

471510000 ordinary

Group Co. Ltd. 000

shares

RMB

Hong Kong Securities Clearing 38799

38799656 ordinary

Company Limited 656

shares

China Merchants Bank Co.RMB

Ltd. - ICBC Credit Suisse 15473

15473952 ordinary

Value Selected Hybrid 952

shares

Securities Investment Fund

RMB

12240

Shen Guoying 12240000 ordinary

000

shares

RMB

91930

Industrial Securities Co. Ltd. 9193000 ordinary

00

shares

China Life Insurance (Group)

Company - Traditional - RMB

89062

Ordinary Insurance Products - 8906200 ordinary

00

Hong Kong Stock Connect shares

(Innovative Strategy)

China Pacific Life Insurance RMB

67867

Co. Ltd.－ Traditional－ 6786700 ordinary 00

Ordinary Insurance Products shares

RMB

Hangzhou Jinchuang 66400

6640085 ordinary

Investment Co. Ltd. 85

shares

Schroder Investment

Management (Hong Kong) RMB

64353

Limited - Schroder Global 6435300 ordinary

00

Equity Fund China A-Shares shares

(Exchange)

RMB

Hangzhou Yinchuang 63180

6318000 ordinary

Investment Co. Ltd. 00

shares

Description on associated

relationship or consistent

actions among the top 10

Mr. Ren Jianhua is the actual controller of the controlling shareholder of the Company -

shareholders not subject to

Hangzhou Robam Industrial Group Co. Ltd. and the shareholder of the Company - Hangzhou

sales restrictions and between

Jinchuang Investment Co. Ltd.; and the natural person shareholder Shen Guoying is his wife.the top 10 shareholders not

Therefore there is a possibility that these shareholders will act in concert.subject to sales restrictions and

the top 10 common

shareholders

Description on the top 10

common shareholders engaging

N/A

in securities margin trading (if

any) (see Note 4)

Shares lending through refinancing involving shareholders holding more than 5% of the shares the top 10 shareholders and the

top 10 holders of unrestricted circulating shares

36Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

□Applicable□Not applicable

Compared to the previous period a change existed due to the top 10 shareholders and the top 10 holders of unrestricted circulating

shares lending/returning shares for refinancing purposes

□Applicable□Not applicable

Did any of the top 10 common shareholders and the top 10 common shareholders not subject to sales restrictions of the Company

have any agreed repurchase trading during the reporting period

□ Yes□No

There was no agreed repurchase trading between the top 10 common shareholders and the top 10 common shareholders not subject

to sales restrictions of the Company during the reporting period.IV. Changes in Shares Held by Directors and Senior Management

□Applicable□Not applicable

There was no change in the shareholdings of directors and senior management of the Company during the reporting period. For

details please refer to the Annual Report 2025.V. Changes in the Controlling Shareholder and the Actual Controller

If the Company has previously disclosed that its actual controller is planning a change in control but the change has not yet been

completed please describe the progress of the change in control.□Applicable□Not applicable

Changes in the controlling shareholder during the reporting period

□Applicable□Not applicable

There was no change in the controlling shareholder of the Company during the reporting period.Changes in the actual controller during the reporting period

□Applicable□Not applicable

There was no change in the actual controller of the Company during the reporting period.VI. Information on Preferred Shares

□Applicable□Not applicable

The Company had no preferred shares during the reporting period.

37Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Section 7 Bonds

□Applicable□Not applicable

38Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Section 8 Financial Report

I. Audit Report

Whether the semi-annual report has been audited

□ Yes□No

The semi-annual financial report of the Company has not been audited.II. Financial Statements

The financial statement notes are represented in RMB.

1. Consolidated Balance Sheet

Prepared by: Hangzhou Robam Appliances Co. Ltd.June 30 2026

In RMB

Item Ending balance Beginning balance

Current assets:

Cash and cash equivalents 1569931346.24 1236257860.53

Deposit reservation for balance

Lendings to banks and other financial

institutions

Financial assets held for trading 2640000000.00 3230000000.00

Derivative financial assets

Notes receivable 535809020.34 578435043.55

Accounts receivable 1600748816.27 1501774623.23

Accounts receivable financing

Prepayments 193531858.61 186281708.91

Receivable premium

Reinsurance accounts receivable

Reinsurance contract reserves

receivable

Other receivables 108769365.44 73533704.37

Inc: Interests receivable

Dividends receivable 400000.00

Redemptory monetary capital for sale

Inventory 1418951648.01 1360022769.09

Including: Data resources

Contract assets

Assets held for sale

Non-current assets due within one year 3300412030.50 499143689.50

Other current assets 83464762.36 88468071.99

39Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Total current assets 11451618847.77 8753917471.17

Non-current assets:

Loans and advances

Debt investment

Other debt investment

Long-term account receivable

Long-term equity investment 3998179.24 4395119.95

Investment in other equity instruments 2116023.22 2116023.22

Other non-current financial assets 800451400.00

Investment properties 78650988.15 81013670.91

Fixed assets 2131092604.48 2173675186.21

Construction in process 28427693.17 46511377.40

Biological assets for production

Oil & gas assets

Right-of-use assets 7014165.53 8102992.49

Intangible assets 190192871.41 196406397.41

Including: Data resources

Development expenditure

Including: Data resources

Goodwill

Long-term prepaid expenses 15961590.31 3252717.83

Deferred income tax assets: 353367501.53 325584003.83

Other non-current assets 2289528254.91 4812636753.73

Total non-current assets 5100349871.95 8454145642.98

Total assets 16551968719.72 17208063114.15

Current liabilities:

Short-term borrowings 105220163.89 97738579.05

Borrowings from the central bank

Borrowings from banks and other

financial institutions

Financial liabilities held for trading

Derivative financial liabilities

Notes payables 910139795.24 1102064932.55

Accounts payable 2200075762.05 2655136329.40

Advance receipts

Contract liabilities 905147385.40 932559161.31

Financial assets sold for repurchase

Deposits from customers and

interbank

Receivings from vicariously traded

securities

Receivings from vicariously traded

securities

40Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Payroll payable 34640108.59 179852713.89

Taxes payable 177999114.59 121036736.76

Other payables 289581022.37 294434125.10

Inc: Interests payable

Dividends payable

Fees and commissions payable

Dividends payable for reinsurance

Liabilities held for sale

Non-current liabilities due within one

1715819.851967891.30

year

Other current liabilities 96883559.92 102759019.62

Total current liabilities 4721402731.90 5487549488.98

Non-current liabilities:

Reserves for insurance contracts

Long-term loans

Bonds payable

Inc: Preferred shares

Perpetual bonds

Lease liabilities 6927697.49 7867003.07

Long-term accounts payable

Long-term payroll payable

Estimated liabilities

Deferred income 92402790.19 100318829.17

Deferred income tax liabilities 48787305.39 40433744.03

Other non-current liabilities

Total non-current liabilities 148117793.07 148619576.27

Total liabilities 4869520524.97 5636169065.25

Owner’s equity:

Capital stock 944983916.00 944938916.00

Other equity instruments

Inc: Preferred shares

Perpetual bonds

Capital reserve 255677185.02 245855894.16

Less: treasury share

Other comprehensive income -102272238.42 -99859332.25

Special reserve

Surplus reserve 474516412.50 474516412.50

General risk reserves

Undistributed profits 10037769444.57 9932003800.67

Total owners’ equity attributable to the

11610674719.6711497455691.08

parent company

Minority interests 71773475.08 74438357.82

Total owners’ equity 11682448194.75 11571894048.90

Total liabilities and owner’s equity 16551968719.72 17208063114.15

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

41Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

2. Balance Sheet of the Parent Company

In RMB

Item Ending balance Beginning balance

Current assets:

Cash and cash equivalents 1294122780.40 918874104.42

Financial assets held for trading 2610000000.00 3150000000.00

Derivative financial assets

Notes receivable 532527772.22 523249511.10

Accounts receivable 1559946532.86 1602061559.51

Accounts receivable financing

Prepayments 146657260.02 165128922.34

Other receivables 57097798.34 46373203.37

Inc: Interests receivable

Dividends receivable 400000.00

Inventory 1256925249.66 1236807100.71

Including: Data resources

Contract assets

Assets held for sale

Non-current assets due within one year 3300412030.50 499143689.50

Other current assets 82633645.41 85399390.87

Total current assets 10840323069.41 8227037481.82

Non-current assets:

Debt investment

Other debt investment

Long-term account receivable

Long-term equity investment 375626387.84 359003369.68

Investment in other equity instruments 2116023.22 2116023.22

Other non-current financial assets 800000000.00

Investment properties 5685702.36 5844077.68

Fixed assets 1978080262.66 2014588155.12

Construction in process 28427693.17 46511377.40

Biological assets for production

Oil & gas assets

Right-of-use assets

Intangible assets 134235476.38 138595427.42

Including: Data resources

Development expenditure

Including: Data resources

Goodwill

Long-term prepaid expenses 1477112.04 1293597.65

Deferred income tax assets: 295800174.50 303767891.68

Other non-current assets 2288796466.52 4812563358.50

42Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Total non-current assets 5110245298.69 8484283278.35

Total assets 15950568368.10 16711320760.17

Current liabilities:

Short-term borrowings

Financial liabilities held for trading

Derivative financial liabilities

Notes payables 893939795.24 1039112638.02

Accounts payable 1973947688.66 2506156790.78

Advance receipts

Contract liabilities 784117483.30 868921179.27

Payroll payable 19204786.20 142644938.67

Taxes payable 118366010.61 104865287.45

Other payables 265795601.43 269282117.78

Inc: Interests payable

Dividends payable

Liabilities held for sale

Non-current liabilities due within one

year

Other current liabilities 81759146.32 94783314.31

Total current liabilities 4137130511.76 5025766266.28

Non-current liabilities:

Long-term loans

Bonds payable

Inc: Preferred shares

Perpetual bonds

Lease liabilities

Long-term accounts payable

Long-term payroll payable

Estimated liabilities

Deferred income 62147694.79 69101835.67

Deferred income tax liabilities 44373470.77 35534453.35

Other non-current liabilities

Total non-current liabilities 106521165.56 104636289.02

Total liabilities 4243651677.32 5130402555.30

Owner’s equity:

Capital stock 944983916.00 944938916.00

Other equity instruments

Inc: Preferred shares

Perpetual bonds

Capital reserve 255632202.15 245810911.29

Less: treasury share

Other comprehensive income -100157634.16 -100157634.16

Special reserve

Surplus reserve 474516412.50 474516412.50

Undistributed profits 10131941794.29 10015809599.24

43Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Total owners’ equity 11706916690.78 11580918204.87

Total liabilities and owner’s equity 15950568368.10 16711320760.17

3. Consolidated Income Statement

In RMB

Item The first half of 2026 The first half of 2025

I. Total operating income 3972387199.38 4607524703.26

Inc: Operating income 3972387199.38 4607524703.26

Interest income

Earned premium

Fee and commission income

II. Total operating costs 3408030684.17 3856874131.23

Inc: Operating costs 1964839571.74 2283762522.42

Interest expenses

Fee and commission expenses

Surrender value

Net payments for insurance

claims

Net allotment of reserves for

insurance liabilities

Policy dividend expenditures

Reinsurance expenses

Taxes and surcharges 21982994.50 27865265.95

Sales expenses 1089904534.74 1249377013.90

Administrative expenses 235361486.07 206605747.81

R&D expenses 157591442.53 158939711.88

Financial expenses -61649345.41 -69676130.73

Including: Interest expenses 1833305.15 1817820.74

Interest income 69902801.73 73328708.38

Add: other income 81392197.02 57093555.90

Investment income (“-” for

47351275.3617324530.35

losses)

Including: Income from

investment in joint ventures and -396940.73 -6437701.16

affiliated enterprises

Gains on

derecognition of financial assets

measured at amortized cost

Exchange gains (“-” for losses)

Net exposure hedging gains (“-”

for losses)

Gains from changes in fair value

("-" for losses)

Losses from credit impairment

27945844.5215145957.90

(“-” for losses)

44Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.Losses from asset impairment (“--41120659.203783969.51

” for losses)

Gains on disposal of assets (“-”

-591998.67-3797996.87

for losses)

III. Operating profits (“-” for losses) 679333174.24 840200588.82

Add: non-operating income 3414476.34 1015943.00

Less: non-operating expenditure 2248327.62 3867742.03

IV. Total profits (“-” for total losses) 680499322.96 837348789.79

Less: income tax expenses 104883916.74 134376892.39

V. Net profits (“-” for net losses) 575615406.22 702971897.40

(I) By operational sustainability

1. Net profits from continuing

575615406.22702971897.40

operations (“-” for net losses)

2. Net profits from discontinued

operations (“-” for net losses)

(II) By ownership

1. Net profit attributable to

shareholders of the parent company (“-” 578235101.90 711640958.19

for net losses)

2. Minority shareholders’ gains and

-2619695.68-8669060.79

losses (“-” for net losses)

VI. After-tax net amount of other

-2458093.23-398030.76

comprehensive income

After-tax net amount of other

comprehensive income attributable to the -2412906.17 -387130.35

owners of parent company

(I) Other comprehensive income

that cannot be reclassified into gains and

losses

1. Changes in re-measured and

defined benefit plans

2. Other comprehensive income

which cannot be transferred into gains or

losses under the equity method

3. Changes in fair value of the

investment in other equity instruments

4. Changes in fair value of the

credit risk of the Company

5. Others

(II) Other comprehensive income

which will be reclassified into gains and -2412906.17 -387130.35

losses

1. Other comprehensive income

which can be transferred into gains and

losses under the equity method

2. Changes in fair value of other

debt investments

3. Amount of financial assets

reclassified into other comprehensive

income

4. Provision for credit impairment

of other debt investments

5. Cashflow hedge reserve

6. Converted difference in foreign

-2412906.17-387130.35

currency statements

45Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

7. Others

After-tax net amount of other

comprehensive income attributable to -45187.06 -10900.41

minority shareholders

VII. Total comprehensive income 573157312.99 702573866.64

Total comprehensive income

attributable to owners of the parent 575822195.73 711253827.84

company

Total comprehensive income

-2664882.74-8679961.20

attributable to minority shareholders

VIII. Earnings per share (EPS):

(I) Basic EPS 0.61 0.75

(II) Diluted EPS 0.61 0.75

In the case of merger of enterprises under the same control in the current period the net profit realized by the merged party before

the merger is: RMB 0.00 and the net profit realized by the merged party in the previous period is: RMB 0.00.Legal representative: Ren Fujia Person in charge of accounting: Zhang Guofu Head of the accounting body: Zhang Guofu

4. Income Statement of the Parent Company

In RMB

Item The first half of 2026 The first half of 2025

I. Operating income 3473771907.44 4060211446.03

Less: Operating costs 1871756776.10 2137740574.34

Taxes and surcharges 17014535.57 22994807.41

Sales expenses 711584942.66 884188940.64

Administrative expenses 185124539.84 159648381.97

R&D expenses 162772953.06 163548602.29

Financial expenses -63603738.16 -71109440.73

Including: Interest expenses 55527.44

Interest income 69510979.68 72075069.52

Add: other income 72294366.42 52300832.02

Investment income (“-” for

47482863.0120876281.61

losses)

Including: Income from

investment in joint ventures and 468484.80 -2846136.10

affiliated enterprises

Gains on derecognition

of financial assets measured at amortized

cost (“-” for losses)

Net exposure hedging gains (“-”

for losses)

Gains from changes in fair value

("-" for losses)

Losses from credit impairment

24221770.8222945371.07

(“-” for losses)Losses from asset impairment (“--41115902.983783969.51

” for losses)

Gains on disposal of assets (“-”

-591379.21-3797214.45

for losses)

46Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

II. Operating profits (“-” for losses) 691413616.43 859308819.87

Add: non-operating income 2981928.61 957115.20

Less: non-operating expenditure 1269065.00 2652147.26

III. Total profits (“-” for total losses) 693126480.04 857613787.81

Less: income tax expenses 104524826.99 133084761.58

IV. Net profits (“-” for net losses) 588601653.05 724529026.23

(I) Net profits from continuing

588601653.05724529026.23

operations (“-” for net losses)

(II) Net profits from discontinued

operations (“-” for net losses)

V. After-tax net amount of other

comprehensive income

(I) Other comprehensive income

that cannot be reclassified into gains and

losses

1. Changes in re-measured and

defined benefit plans

2. Other comprehensive income

which cannot be transferred into gains or

losses under the equity method

3. Changes in fair value of the

investment in other equity instruments

4. Changes in fair value of the

credit risk of the Company

5. Others

(II) Other comprehensive income

which will be reclassified into gains and

losses

1. Other comprehensive income

which can be transferred into gains and

losses under the equity method

2. Changes in fair value of other

debt investments

3. Amount of financial assets

reclassified into other comprehensive

income

4. Provision for credit impairment

of other debt investments

5. Cashflow hedge reserve

6. Converted difference in foreign

currency statements

7. Others

VI. Total comprehensive income 588601653.05 724529026.23

VII. EPS:

(I) Basic EPS

(II) Diluted EPS

5. Consolidated Cash Flow Statement

In RMB

Item The first half of 2026 The first half of 2025

I. Cash flow from operating activities:

Cash received for the sale of goods

4210186977.115515395015.22

and rendering of services

47Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Net increase in customers’ deposits

and deposits from banks and other

financial institutions

Net increase in borrowings from the

central bank

Net increase in borrowings from other

financial institutions

Cash received from receiving

insurance premium of the original

insurance contract

Net cash from receiving reinsurance

premium

Net increase in deposits and

investment of insured persons

Cash received from interests fees and

commissions

Net increase in borrowed funds

Net increase in repurchase business

funds

Net cash received from vicariously

traded securities

Refunds of taxes 48804088.19 13660908.41

Cash received relating to other

27576736.2646269735.27

operating activities

Subtotal of cash inflow from operating

4286567801.565575325658.90

activities

Cash paid for purchased products and

2483827670.142774795454.99

received services

Net increase in loans and advances to

customers

Net increase in deposits with the

central bank and other financial

institutions

Cash paid for claims of original

insurance contract

Net increase in lending funds

Cash paid for interests fees and

commissions

Cash paid for policy dividends

Cash paid to and on behalf of

595070052.04585787861.57

employees

Cash paid for taxes 232461537.27 351113323.34

Cash paid related to other operating

1337499468.021352422258.15

activities

Subtotal of cash outflow from operating

4648858727.475064118898.05

activities

Net cash flow from operating activities -362290925.91 511206760.85

II. Cash flow from investment activities:

Cash received from return of

3685071726.221250000000.00

investments

Cash received from return on

49502485.6424585416.98

investments

Net cash received from disposal of 2864.96 66977.35

48Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

fixed assets intangible assets and other

long-term assets

Net cash received from disposal of

subsidiaries and other business entities

Cashes received related to other

105780968.461454835086.78

investment activities

Subtotal of cash inflow from investment

3840358045.282729487481.11

activities

Cash paid for purchase and

construction of fixed assets intangible 100619237.52 124713474.39

assets and other long-term assets

Cash paid to investments 2290100000.00 2000000990.00

Net increase in pledged loans

Net cash from subsidiaries and other

operating entities

Cash paid related to other investment

283073600.00950000000.00

activities

Subtotal of cash outflow from investment

2673792837.523074714464.39

activities

Net cash flow from investment activities 1166565207.76 -345226983.28

III. Cash flow from financing activities:

Cash from acquiring investments 6159891.20

Including: Cash received by

subsidiaries from investments of 2396306.20

minority shareholders

Cash from acquiring debts 84100000.00 94600000.00

Other cashes received in relation to

financing activities

Subtotal of cash inflow from financing

84100000.00100759891.20

activities

Cash paid for repayments of debts 76614342.27 91660278.92

Cash paid for distribution of

472472228.37472975605.06

dividends profits or interest expenses

Including: Dividends or profits paid by

subsidiaries to minority shareholders

Other cashes paid in relation to

1109049.001056237.08

financing activities

Subtotal of cash outflow from financing

550195619.64565692121.06

activities

Net cash flow from financing activities -466095619.64 -464932229.86

IV. Effect of change in exchange rate on

-1601816.77-227519.05

cash and cash equivalents

V. Net increase in cash and cash

336576845.44-299179971.34

equivalents

Plus: Opening balance of cash and

1169244689.171518303556.89

cash equivalents

VI. Closing balance of cash and cash

1505821534.611219123585.55

equivalents

6. Cash Flow Statement of the Parent Company

In RMB

Item The first half of 2026 The first half of 2025

I. Cash flow from operating activities:

Cash received for the sale of goods 3724143563.40 4816982368.90

49Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

and rendering of services

Refunds of taxes 48769142.02 13626004.77

Cash received relating to other

16136661.3935016713.15

operating activities

Subtotal of cash inflow from operating

3789049366.814865625086.82

activities

Cash paid for purchased products and

2308965004.692618433452.90

received services

Cash paid to and on behalf of

460092085.66450809922.17

employees

Cash paid for taxes 189832312.90 293362457.93

Cash paid related to other operating

1079494265.111002491152.07

activities

Subtotal of cash outflow from operating

4038383668.364365096985.07

activities

Net cash flow from operating activities -249334301.55 500528101.75

II. Cash flow from investment activities:

Cash received from return of

3555071726.221200000000.00

investments

Cash received from return on

48768647.7724545603.18

investments

Net cash received from disposal of

fixed assets intangible assets and other 884.96 66977.35

long-term assets

Net cash received from disposal of

subsidiaries and other business entities

Cashes received related to other

105780968.461454835086.78

investment activities

Subtotal of cash inflow from investment

3709622227.412679447667.31

activities

Cash paid for purchase and

construction of fixed assets intangible 99492784.62 123907338.44

assets and other long-term assets

Cash paid to investments 2225490240.00 1953235095.00

Net cash from subsidiaries and other

operating entities

Cash paid related to other investment

283073600.00950000000.00

activities

Subtotal of cash outflow from investment

2608056624.623027142433.44

activities

Net cash flow from investment activities 1101565602.79 -347694766.13

III. Cash flow from financing activities:

Cash from acquiring investments 3763585.00

Cash from acquiring debts

Other cashes received in relation to

financing activities

Subtotal of cash inflow from financing

3763585.00

activities

Cash paid for repayments of debts

Cash paid for distribution of

472469458.00472469458.00

dividends profits or interest expenses

Other cashes paid in relation to

financing activities

Subtotal of cash outflow from financing

472469458.00472469458.00

activities

Net cash flow from financing activities -472469458.00 -468705873.00

IV. Effect of change in exchange rate on -977114.71 -182555.45

50Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

cash and cash equivalents

V. Net increase in cash and cash

378784728.53-316055092.83

equivalents

Plus: Opening balance of cash and

857153977.361209816970.63

cash equivalents

VI. Closing balance of cash and cash

1235938705.89893761877.80

equivalents

7. Consolidated Statement of Changes in Owners’ Equity

Current amount

In RMB

The first half of 2026

Owners’ equity attributable to the parent company

Other equity Oth Tota

instruments Less er Und

Gen Min l

Item Capi Capi : com Spe Surp istri

Pref Perp eral ority owntal tal treas preh cial lus bute Oth Subt

erre etua risk inter ers’stoc Oth rese ury ensi rese rese d ers otal ests

k d l

rese equi

ers rve shar ve rve rve prof

shar bon rves tye inco its

es ds me

-114115

944245474993744

I. Closing 998 974 718

938855516200383

balance of 593 556 940

916.894.412.38057.8

last year 32.2 91.0 48.9

0016500.672

580

Plus:

Changes in

accounting

policies

Co

rrection of

errors of the

previous

period

Ot

hers

-114115

944245474993744

II. Opening 998 974 718

938855516200383

balance of 593 556 940

916.894.412.38057.8

this year 32.2 91.0 48.9

0016500.672

580

III. Change - 105 113 - 110

450982

in current 241 765 219 266 554

00.0129

period ("-" 290 643. 028. 488 145.

00.86

for decrease) 6.17 90 59 2.74 85

-578575-573

(I) Total

241235822266157

comprehensi

290101.195.488312.

ve income

6.1790732.7499

(II) Capital 450 982 986 986

invested and 00.0 129 629 629

51Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

decreased by 0 0.86 0.86 0.86

the owners

1. Common

450678723723

shares

00.0600.600.600.

invested by

0000000

the owners

2. Capital

invested by

holders of

other equity

instruments

3. Amount of

share-based

914914914

payments

269269269

recognized in

0.860.860.86

owners’

equity

4. Others

---

472472472

(III) Profit

469469469

distribution

458.458.458.

000000

1.

Withdrawal

of surplus

reserve

2.

Appropriatio

n of general

risk reserve

---

3.

472472472

Distribution

469469469

to owners (or

458.458.458.

shareholders)

000000

4. Others

(IV) Internal

carry-

forward of

owners’

equity

1. Capital

reserve

converted

into capital

(or capital

stock)

2. Surplus

reserve

converted

into capital

(or capital

stock)

52Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

3. Surplus

reserves

making up

for losses

4. Changes

of defined

benefit plans

carried

forward to

retained

earnings

5. Other

comprehensi

ve income

carried

forward to

retained

earnings

6． Others

(V) Special

reserve

1.

Withdrawn

in current

period

2. Used in

current

period

(VI) Others

-100116116

IV. Closing 944 255 474 717

102377106824

balance of 983 677 516 734

272694747481

current 916. 185. 412. 75.0

238.44.519.694.7

period 00 02 50 8

42775

Amount of last year

In RMB

The first half of 2025

Owners’ equity attributable to the parent company

Other equity Oth Tota

instruments Less er Und

Gen Min l

Item Capi Capi : com Spe Surp istri

Pref Perp eral ority owntal tal treas preh cial lus bute Oth Subt

erre etua risk inter ers’stoc Oth rese ury ensi rese rese d ers otal

d l rese ests equik ers rve shar ve rve rve prof

shar bon rves tye inco its

es ds me

-111112

944237474962876

I. Closing 995 784 660

782627516106492

balance of 515 374 867

166.547.412.29197.9

last year 92.9 43.1 41.1

0019500.452

591

Plus:

53Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Changes in

accounting

policies

Co

rrection of

errors of the

previous

period

Ot

hers

-111112

944237474962876

II. Opening 995 784 660

782627516106492

balance of 515 374 867

166.547.412.29197.9

this year 92.9 43.1 41.1

0019500.452

591

III. Change 132 - 239 252 - 245

156

in current 173 387 171 158 628 874

750.

period ("-" 94.3 130. 500. 514. 365 859.

00

for decrease) 4 35 19 18 5.00 18

-711711-702

(I) Total

387640253867573

comprehensi

130.958.827.996866.

ve income

3519841.2064

(II) Capital 132 133 157

156239

invested and 173 741 704

750.630

decreased by 94.3 44.3 50.5

006.20

the owners 4 4 4

1. Common

156305321239561

shares

750.819494630124

invested by

002.502.506.208.70

the owners

2. Capital

invested by

holders of

other equity

instruments

3. Amount of

share-based 101 101 101

payments 592 592 592

recognized in 01.8 01.8 01.8

owners’ 4 4 4

equity

4. Others

---

472472472

(III) Profit

469469469

distribution

458.458.458.

000000

1.

Withdrawal

of surplus

reserve

2.

Appropriatio

54Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

n of general

risk reserve

---

3.

472472472

Distribution

469469469

to owners (or

458.458.458.

shareholders)

000000

4. Others

(IV) Internal

carry-

forward of

owners’

equity

1. Capital

reserve

converted

into capital

(or capital

stock)

2. Surplus

reserve

converted

into capital

(or capital

stock)

3. Surplus

reserves

making up

for losses

4. Changes

of defined

benefit plans

carried

forward to

retained

earnings

5. Other

comprehensi

ve income

carried

forward to

retained

earnings

6． Others

(V) Special

reserve

1.

Withdrawn

in current

period

2. Used in

current

period

55Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(VI) Others

-114115

IV. Closing 944 250 474 986 813

999305119

balance of 938 844 516 023 656

387959616

current 916. 941. 412. 441 42.9

23.357.300.2

period 00 53 50 0.64 2

079

8. Statement of Changes in Owners’ Equity of the Parent Company

Current amount

In RMB

The first half of 2026

Other equity instruments Other

Capita Less: compr Specia Surplu Undist Total

Item Capita Prefer Perpet l treasu ehensi l s ribute ownerOthers

l stock red ual Others reserv ry ve reserv reserv d s’

shares bonds e share incom e e profits equity

e

-10011158

I. Closing 9449 2458 4745

100158090918

balance of 3891 1091 1641

5763599.2204.8

last year 6.00 1.29 2.50

4.1647

Plus:

Changes in

accounting

policies

Co

rrection of

errors of the

previous

period

Ot

hers

-10011158

II. Opening 9449 2458 4745

100158090918

balance of 3891 1091 1641

5763599.2204.8

this year 6.00 1.29 2.50

4.1647

III. Change

982111611259

in current 4500

290.832199848

period ("-" 0.00

65.055.91

for decrease)

(I) Total 5886 5886

comprehensi 0165 0165

ve income 3.05 3.05

(II) Capital

98219866

invested and 4500

290.8290.8

decreased by 0.00

66

the owners

1. Common

shares 4500 6786 7236

invested by 0.00 00.00 00.00

the owners

56Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

2. Capital

invested by

holders of

other equity

instruments

3. Amount of

share-based

91429142

payments

690.8690.8

recognized in

66

owners’

equity

4. Others

--

(III) Profit 4724 4724

distribution 6945 6945

8.008.00

1.

Withdrawal

of surplus

reserve

2.--

Distribution 4724 4724

to owners (or 6945 6945

shareholders) 8.00 8.00

3． Others

(IV) Internal

carry-

forward of

owners’

equity

1. Capital

reserve

converted

into capital

(or capital

stock)

2. Surplus

reserve

converted

into capital

(or capital

stock)

3. Surplus

reserves

making up

for losses

4. Changes

of defined

benefit plans

carried

forward to

retained

earnings

5. Other

57Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

comprehensi

ve income

carried

forward to

retained

earnings

6． Others

(V) Special

reserve

1.

Withdrawn

in current

period

2. Used in

current

period

(VI) Others

IV. Closing - 1013 1170

944925564745

balance of 1001 1941 6916

839132201641

current 5763 794.2 690.7

6.002.152.50

period 4.16 9 8

Amount of last year

In RMB

The first half of 2025

Other equity instruments Other

Capita Less: compr Specia Surplu Undist Total

Item Capita Prefer Perpet l treasu ehensi l s ribute ownerOthers

l stock red ual Others reserv ry ve reserv reserv d s’

shares bonds e share incom e e profits equity

e

-1124

I. Closing 9447 2375 4745 9692

10019245

balance of 8216 8256 1641 5218

5763331.7

last year 6.00 4.32 2.50 23.09

4.165

Plus:

Changes in

accounting

policies

Co

rrection of

errors of the

previous

period

Ot

hers

-1124

II. Opening 9447 2375 4745 9692

10019245

balance of 8216 8256 1641 5218

5763331.7

this year 6.00 4.32 2.50 23.09

4.165

III. Change 1321 2520 26541567

in current 7394. 5956 337150.00

period ("-" 34 8.23 2.57

58Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

for decrease)

(I) Total 7245 7245

comprehensi 2902 2902

ve income 6.23 6.23

(II) Capital

13211337

invested and 1567

7394.4144.

decreased by 50.00

3434

the owners

1. Common

30583214

shares 1567

192.5942.5

invested by 50.00

00

the owners

2. Capital

invested by

holders of

other equity

instruments

3. Amount of

share-based

10151015

payments

9201.9201.

recognized in

8484

owners’

equity

4. Others

--

(III) Profit 4724 4724

distribution 6945 6945

8.008.00

1.

Withdrawal

of surplus

reserve

2.--

Distribution 4724 4724

to owners (or 6945 6945

shareholders) 8.00 8.00

3． Others

(IV) Internal

carry-

forward of

owners’

equity

1. Capital

reserve

converted

into capital

(or capital

stock)

2. Surplus

reserve

converted

into capital

(or capital

59Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

stock)

3. Surplus

reserves

making up

for losses

4. Changes

of defined

benefit plans

carried

forward to

retained

earnings

5. Other

comprehensi

ve income

carried

forward to

retained

earnings

6． Others

(V) Special

reserve

1.

Withdrawn

in current

period

2. Used in

current

period

(VI) Others

IV. Closing - 1151

9449250747459944

balance of 1001 4679

3891999516415813

current 5763 044.3

6.008.662.5091.32

period 4.16 2

III. Basic Information of the Company

Hangzhou Robam Appliances Co. Ltd. (hereinafter referred to as ROBAM or the Company) is an incorporated company

established by overall changing Hangzhou Robam Home Appliances Co. Ltd. on November 7 2000. Approved by China Securities

Regulatory Commission (ZJXK [2010] No.1512) in 2010 the Company for the first time offered 40 million ordinary shares in RMB to

the public on November 23 2010 (stock code: 002508) with the par value per share of RMB 1 and the issue price per share of RMB

24.00.

As of June 30 2026 the total capital stocks of the Company reached 944983916 shares with a registered capital of RMB

949024050. The Company’s unified social credit code is 91330000725252053F; the legal representative is Ren Jianhua; and the

registered address is No. 592 Linping Avenue Linping Economic and Technological Development Zone Linping District Hangzhou

City Zhejiang Province. The RMB-denominated A-shares issued by the Company have been listed on the Shenzhen Stock Exchange.

60Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

The Company is a manufacturing company with major businesses covering research & development production sales and

comprehensive services of kitchen appliances. Its main products include range hoods gas stoves disinfection cabinets steam ovens

baking ovens dishwashers water purifiers microwave ovens integrated stoves and purification sinks.These financial statements were approved for issuance by the Board of Directors of the Company on 27 August 2026.IV. Basis for Preparation of Financial Statements

1. Preparation basis

The Company's financial statements are prepared based on actual transactions and events in accordance with the Accounting

Standards for Business Enterprises and its application guidelines interpretations and other relevant regulations issued by the Ministry

of Finance (hereinafter collectively referred to as “Accounting Standards for Business Enterprises”) the disclosure requirements of the

China Securities Regulatory Commission (hereinafter “CSRC”) under the Preparation Rules for Information Disclosure by Companies

Offering Securities to the Public No. 15—General Provisions on Financial Reports (2023 Revision).

2. Going concern

The Company has assessed its ability to continue as a going concern for the 12 months following December 31 2025 and has

not identified any significant doubts about its ability to continue operating. These financial statements are prepared on a going concern

basis.V. Significant Accounting Policies and Estimates

Notes on specific accounting policies and accounting estimates:

Notes on specific accounting policies and accounting estimates: Specific accounting policies and accounting estimates

formulated by the Company in accordance with the actual production and operation characteristics include bad debt provision for

receivables provision for inventory write-down depreciation of fixed assets amortization of intangible assets conditions for

capitalization of research and development expenses and recognition and measurement of revenue.

1. Statement on compliance with Accounting Standards for Business Enterprises

The financial statements comply with the requirements of the Accounting Standards for Business Enterprises and truthfully

and completely reflect the financial status of the Company as of June 30 2026 as well as its business results cash flow and other

relevant information for the first half of 2026.

2. Accounting period

The Company’s accounting period starts on January 1 and ends on December 31 on the Gregorian calendar.

61Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

3. Operating cycle

The normal operating cycle of the Company shall be one year (12 months).

4. Bookkeeping base currency

The Company adopts RMB as the bookkeeping base currency.Subsidiaries of the Company determine their respective base currencies for bookkeeping in accordance with the major

economic environments in which they operate. In preparing the financial statements such foreign currencies are translated into

RMB in accordance with the methods described in III. Significant Accounting Policies and Accounting Estimates - 10. Foreign

currency business and conversion of foreign currencies in financial statements.

5. Methods for determining significance standards and selection criteria

□Applicable □Not applicable

Item Significance standards

Significant accounts receivable with individual bad debt

Individual amount exceeding RMB 10 million

provisions

Significant amount of bad debt provisions to be recovered or

Individual amount exceeding RMB 5 million

reversed for receivables during the reporting period

Significant receivables write-offs during the reporting period Individual amount exceeding RMB 5 million

Significant accounts payable with an aging over one year Individual amount exceeding RMB 5 million

Significant contract liabilities with an aging over one year Individual amount exceeding RMB 10 million

Significant other payables with an aging over one year Individual amount exceeding RMB 5 million

Increase decrease or ending balance of a single project

Significant projects under construction

exceeding RMB 20 million in the year

Significant investment activities Individual investment amount exceeding RMB 50 million

Investments in a single company exceeding RMB 50 million;

Significant non-wholly owned subsidiaries/joint ventures/joint

or income net profit net assets or total assets of a single entity

operations and important overseas entities/structured entities

exceeding 5% of the relevant items in the consolidated

included in the consolidation scope

financial statements

6. Accounting treatment to business combinations under or not under common control

Business combinations under common control

A business combination involving entities that are ultimately controlled by the same party or parties both before and after

the combination and where such control is not temporary is accounted for as a business combination under common control.The assets and liabilities acquired by the Company as the combining party in a business combination under common control

shall be measured at the book value of the combined party in the final controller’s consolidated statements on the combination date.The capital reserve shall be adjusted against the difference between the carrying value of the net assets acquired by the combining

party and the carrying value of the combination consideration paid by it. If the capital reserve is insufficient to offset the difference

the retained earnings shall be adjusted.Business combinations not under common control

62Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

A business combination involving entities that are not ultimately controlled by the same party or parties before and after the

combination is accounted for as a business combination not under common control.As the acquirer the Company measures the identifiable assets liabilities and/or contingent liabilities of the acquiree at their

fair values on the acquisition date in a business combination not under common control. If the combination cost is greater than the

fair value share of the acquiree’s identifiable net assets acquired from the acquiree in the combination the case is recognized as

goodwill. Where the combination cost is less than the fair value share of the identifiable net assets acquired from the acquiree the

fair values of the identifiable assets liabilities and/or contingent liabilities as well as the combination cost acquired in the

combination shall be rechecked first and then in case the combination cost is less than the fair value shares of the identifiable net

assets acquired from the acquiree the difference shall be included in the non-operating income in the period of the combination.

7. Criteria for determining control and methods of preparing consolidated financial statements

The scope of the consolidated financial statements of the Company is determined on the basis of control including the

Company and all subsidiaries controlled by the Company. The criteria for determining control by the Company is that the

Company has the power over the investees enjoys variable returns by participating in the investees' relevant activities and has the

ability to influence the amount of returns through its power over the investees.The financial statements of subsidiaries are adjusted in accordance with the accounting policies and accounting period of the

Company when preparing the consolidated financial statements where the accounting policies and accounting periods are

inconsistent between the Company and its subsidiaries.All intra-group transactions between the Company and its subsidiaries and among subsidiaries and their effects on the

consolidated financial statements are eliminated on consolidation. The portion of owner’s equity of subsidiaries not held by the

parent company and net current profit & loss other comprehensive incomes and the portion of total comprehensive incomesbelonging to minority equity are presented under “minority equity minority interest income other comprehensive incomesbelonging to minority shareholders and total comprehensive incomes belonging to minority shareholders respectively”.For a subsidiary acquired from a business combination under common control its operating results and cash flows are

included into the consolidated financial statements since the beginning of the consolidation period. When the comparable

consolidated financial statements are being prepared relevant items in the financial statements of the last year are adjusted with

the stated party formed after merging deemed to exist from the time of the ultimate controlling party starting to control.For a subsidiary acquired through business combinations not under the same control its operating results and cash flows

shall be included into the consolidated financial statement since the date when the Company obtains control. When preparing the

consolidated financial statements the subsidiary's financial statements shall be adjusted on basis of the fair value of all identifiable

assets liabilities and contingent liabilities ascertained on the purchasing date.

8. Classification of joint arrangements and accounting treatment for joint operations

The Company’s joint arrangements include joint operations and joint ventures. A joint operation means a joint arrangement

in which the joint venturers have rights to the assets and obligations for the liabilities associated with the arrangement. A joint

venture is a joint arrangement in which the venturers have rights only to the net assets of the arrangement.

63Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

For jointly-operated projects the Company as a joint operator recognizes assets held and liabilities assumed individually

as well as assets held and liabilities assumed on a share basis and recognizes the related income and expenses either individually

or on a share basis in accordance with the relevant agreements. For transactions involving the purchase or sale of assets with a

joint operation that do not constitute a business only the portion of gains or losses attributable to other parties to the joint

operation is recognized.

9. Recognition standard of cash and cash equivalents

Cash presented in the Company’s cash flow statement refers to cash on hand and deposits that are available for payment at

any time. Cash equivalents presented in the cash flow statement refer to short-term investments (not exceeding three months) with

high liquidity and that are readily convertible to known amounts of cash and subject to an insignificant risk of changes in value.

10. Foreign currency business and conversion of foreign currencies in statements

Foreign currency transactions

Foreign currency transactions of the Company are converted into the base currency at the spot exchange rates prevailing on

the transaction dates upon initial recognition. On the balance sheet date foreign currency monetary items are converted at the spot

exchange rate on that date. Exchange differences arising therefrom are recognized in gains or losses for the current period except

for those arising from specific foreign currency borrowings for the acquisition or construction of qualifying assets which are

capitalized in accordance with the relevant accounting policy. Foreign currency non-monetary items measured at historical cost

continue to be converted at the spot exchange rate on the transaction date with no change to their base currency amounts. Foreign

currency non-monetary items measured at fair value are converted at the spot exchange rate on the date the fair value is determined;

the resulting difference between the converted amount and the original base currency amount is treated as a change in fair value

(including exchange differences) and recognized in gains or losses for the current period. Capital contributions received from

investors in foreign currencies are converted at the spot exchange rate on the transaction date and no exchange differences arise

between the foreign currency capital contribution and the corresponding monetary items.Conversion of foreign currencies in financial statements

In preparing consolidated financial statements the financial statements of foreign operations are converted into RMB as

follows: assets and liabilities in the foreign currency balance sheet are converted at the spot exchange rate on the balance sheet

date; owners’ equity items except for retained earnings are converted at the spot exchange rates on the transaction dates; income

and expense items in the income statement are converted at the spot exchange rates on the transaction dates. The difference arising

from the above translation is presented separately under other comprehensive income. Cash flows denominated in foreign

currencies are converted at the spot exchange rates on the dates of the cash flows. The effect of exchange rate changes on cash is

presented separately in the cash flow statement.

11. Financial instruments

(1) Recognition and derecognition of financial instruments

64Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

The Company shall recognize a financial asset or a financial liability when it becomes a party to a financial instrument

contract.A financial asset (or part thereof or part of a group of similar financial assets) is derecognized when one of the following

conditions is met and the asset is removed from the accounts and the balance sheet: 1) the rights to receive cash flows from the

financial asset expire; 2) the rights to receive cash flows from the financial asset are transferred or the obligation to pay the cash

flows received to a third party in full and in a timely manner is assumed under a pass-through agreement; and substantially all of

the risks and rewards of ownership of the financial asset are transferred or although substantially all of the risks and rewards of

ownership of the financial asset are neither transferred nor retained control over the financial asset has been relinquished.A financial liability is derecognized if the obligation for the financial liability has been discharged cancelled or expires.Where an existing financial liability is replaced by another from the same creditor on substantially different terms or the terms of

an existing liability are substantially modified in almost its entirety such replacement or modification is accounted for a

derecognition of the original liability and the recognition of a new liability with the difference recognized in profit and loss for the

current period.The purchase and sale of financial assets on a regular basis is recognized and derecognized on a trade date accounting basis.

(2) Classification and measurement of financial assets

Upon initial recognition the Company classifies its financial assets based on the business model for management of

financial assets and the contractual cash flow characteristics of financial assets into three types: 1) the financial asset measured at

amortized cost; 2) the financial asset measured at fair value through other comprehensive income; and 3) and the financial asset

measured at fair value through profit and loss. Financial assets are reclassified only when and only if the Company changes its

business model for managing financial assets and such reclassification is applied to all affected financial assets.In assessing the business model the Company considers among other factors how the performance of financial assets is

evaluated and reported to key management personnel the risks affecting the performance of financial assets and how those risks

are managed and how the management of the business is compensated. In determining whether the objective is to collect

contractual cash flows the Company analyzes the reasons for timing frequency and value of sales of financial assets prior to

maturity.In assessing contractual cash flow characteristics the Company determines whether the contractual cash flows are solely

payments of principal and interest on the principal amount outstanding. When assessing modifications to the time value of money

the Company evaluates whether such modifications result in significant differences compared with benchmark cash flows. For

financial assets containing prepayment features the Company assesses whether the fair value of the prepayment feature is

insignificant.Financial assets are initially measured at fair value. However accounts receivable or notes receivable arising from the sale

of goods or provision of services that do not contain a significant financing component or where the financing component is not

considered if it is less than one year are initially measured at the transaction price.

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For financial assets measured at fair value through profit and loss the related transaction costs are recognized directly in the

current profit and loss; for other categories of financial assets the related transaction costs are included in their initial recognition

amounts.The subsequent measurement of a financial asset depends on its classification:

1) Financial assets measured at amortized cost

The financial assets meeting all of the following conditions shall be classified as those measured at amortized cost: * the

Company adopts the business management mode of financial assets for the purpose of collecting contractual cash flow. * the

contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal

amount outstanding. The Company's financial assets in this classification mainly include: Cash and cash equivalents accounts

receivable notes receivable and other receivables.

2) Debt instrument investment measured at fair value through other comprehensive income

Where the following conditions are met at the same time the financial assets can be classified as those measured at fair

value through other comprehensive income: * the asset is held within a business model whose objective is achieved by both

collecting contractual cash flows and selling financial assets; * the contractual terms give rise on specified dates to cash flows

that are solely payments of principal and interest on the principal amount outstanding. Interest income is recognized on such

financial assets using the effective interest method. Changes in fair value are recognized in other comprehensive income except

for interest income impairment losses and exchange differences which are recognized in the current profit and loss. Upon

derecognition of the financial assets the accumulated gains or losses previously recognized in other comprehensive incomes shall

be transferred out of such other comprehensive incomes and included into the current profit and loss. The Company's financial

assets in this classification mainly include: other debt investments receivables financing.

3) Equity instrument investment measured at fair value through other comprehensive income

The Company has irrevocably designated certain investments in non-trading equity instruments as financial assets at fair

value through other comprehensive income and the designation once made cannot be revoked. The Company recognizes only the

related dividend income (except for dividend income clearly representing a recovery of part of the investment cost) in profit and

loss for the current period and subsequent changes in fair value are recognized in other comprehensive income without provision

for impairment. Upon derecognition the accumulated gains or losses previously included into other comprehensive incomes are

transferred from other comprehensive incomes and included into retained earnings. The Company's financial assets in this

classification are other equity instrument investments.

4) Financial assets measured at fair value with changes included in current profit or loss

Except for the financial assets classified or designated to be measured at the amortized cost and those measured at fair value

through other comprehensive income other financial assets are classified by the Company as those measured at fair value through

profit and loss. Such financial assets are subsequently measured at fair value with all changes in fair value recognized in the

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current profit and loss except those relating to hedge accounting. The Company's financial assets in this classification mainly

include: financial assets held for trading.The financial asset formed by the contingent consideration confirmed during business combination not under the same

control are classified as those measured by its fair value by the Company with changes included into current profits and losses.

(3) Classification recognition and measurement of financial liability

The Company's financial liabilities except for financial guarantee contracts issued loan commitments at below-market

interest rates and financial liabilities arising from transfers of financial assets that do not meet the conditions for derecognition or

from continuing involvement in the transferred financial assets are classified upon initial recognition as follows: financial

liabilities measured at fair value through profit and loss and financial liabilities at amortized cost. For financial liabilities

measured at fair value through profit and loss the related transaction costs are recognized directly in profit and loss and for

financial liabilities measured at amortized cost the related transaction costs are included in their initial recognition amount.The subsequent measurement of financial liabilities depends on their classification:

1) Financial liabilities measured at amortized cost

Such financial liabilities are measured subsequently at the amortized cost by adopting the effective interest method.

2) Financial liabilities measured at fair value through profit and loss

Financial liabilities measured at fair value through profit and loss (including derivatives that are financial liabilities)

comprise financial liabilities held for trading and financial liabilities designated to be measured at fair value through profit and loss

upon initial recognition. Financial liabilities held for trading (including derivatives that are financial liabilities) are subsequently

measured at fair value with all changes in fair value recognized in the current profit and loss (except those relating to hedge

accounting). For financial liabilities measured at fair value through profit and loss subsequent measurement is performed at fair

value and changes in fair value are recognized in profit and loss except for the portion attributable to changes in the Company’s

own credit risk which is recognized in other comprehensive income. However if recognizing the effect of changes in own credit

risk in other comprehensive income would create or enlarge an accounting mismatch in profit and loss all changes in fair value

(including the effect of changes in own credit risk) are recognized in profit and loss.

(4) Impairment of financial instruments

The Company impairs and recognizes a loss provision on the basis of expected credit losses for financial assets measured at

amortized cost debt investments measured at fair value through other comprehensive income contract assets lease receivables

loan commitments and financial guarantee contracts.The expected credit loss is a weighted average of credit losses on financial instruments weighted at the risk of default. Credit

loss refers to the difference between all contractual cash flows discounted as per the original effective interest rate and receivable

from the contract and all cash flows expected to be received by the Company namely the present value of a shortage of cash. The

Company considers the measurement of expected credit losses by reflecting the following elements: * an unbiased probability-

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weighted average amount determined by evaluating a range of possible outcomes; * the time value of money; and * reasonable

and supportable information about past events current conditions and forecasts of future economic conditions that is not subject to

undue additional cost or available on the balance sheet date.The Company assesses expected credit losses on financial instruments on an individual and portfolio basis. When assessing

on a portfolio basis the Company categorizes financial instruments into groups based on common credit risk characteristics. The

Company uses common credit risk characteristics including: type of financial instrument credit risk rating geographical location

of the debtor industry in which the debtor operates past due information and ageing of receivables.The impairment of financial instruments and contract assets is assessed by the Company using the expected credit loss

model which requires to make significant judgment and estimation taking account into all reasonable and supportable information

including forward-looking information. In making these judgments and estimates the Company extrapolates the expected changes

in debtors' credit risk based on historical repayment data combined with economic policies macroeconomic indicators industry

risks and other factors. Different estimates may affect the provision for impairment and the provision for impairment that has been

made may not equal the actual amount of future impairment losses.For accounts receivable notes receivable accounts receivable financing contract assets and other receivables that do not

contain significant financing components and that arise from ordinary operating activities such as sales of goods and rendering of

services the Company applies a simplified measurement methodology to measure the allowance for losses at an amount equal to

the expected credit losses over the entire period of existence.For lease receivables receivables with significant financing components and contract assets the Company applies a

simplified approach to measure the allowance for losses at an amount equal to the expected credit losses over the entire period of

existence.

12. Notes receivable

The Company based on the acceptor credit risk of the notes receivable as common risk characteristics divides the notes

receivable into different portfolios and determines the accounting estimation policy of expected credit loss.Portfolio classification Basis for classification Provision method

The Company believed that there was no significant credit risk

Banker’s acceptance bill The acceptor is a banking financial in the banker's acceptance bills held by the Company and there

portfolio institution. will be no significant loss due to the default of the bank; the

expected credit loss rate is 0.Commercial acceptance bill The acceptor is a non-bank The Company shall measure the bad-debt provision of

portfolio financial institution or enterprise receivable commercial acceptance bill based on the expectedlike a finance company. credit loss during the entire period of existence.

13. Account receivable

For receivables except for those that are individually assessed as credit-impaired the Company generally evaluates

expected credit losses on a portfolio basis grouped by shared credit risk characteristics. Taking into account the elements required

under the expected credit loss measurement framework and historical credit loss experience the Company develops an aging

schedule matrix correlating accounts receivable aging with loss rates to calculate expected credit losses. If the credit risk

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characteristics of a customer are significantly different from those of other customers in the portfolio or if there is a significant

change in the credit risk characteristics of the customer for example the customer is in severe financial difficulty the expected

credit loss rate on receivables from the customer has been significantly higher than the expected credit loss rate in the ageing and

overdue ranges in which the customer is located the Company makes a provision for losses on the basis of a single loss provision

for the receivables from the customer.The Company's accounts receivable (and contract assets) are grouped according to the similarity and relevance of credit risk

characteristics based on the ageing nature of the amount credit risk exposure and history of repayment of accounts receivable

(and contract assets) which are summarized as follows:

Portfolio classification Basis for classification Provision method

Accounts receivable with the same aging Measurement of bad debt provisionsAging-based portfolio have similar credit risk characteristics based on expected credit losses over theentire period of existence

Related-party portfolio within Receivables from related parties within

consolidation scope the scope of consolidation No provision for bad debts

For receivables classified as an aging-based portfolio the Company calculates expected credit losses by referring to

historical credit loss experience and preparing a table comparing the age of the receivables with the expected credit loss rate over

the entire duration of the receivables taking into account current conditions and forecasts of future economic conditions. The

comparison table is based on historical default rates observed over the expected repayment period of the accounts receivable

adjusted for forward-looking estimates. Observed historical default rates are updated on each reporting date and analyzed for

changes in forward-looking estimates.The Company's accounting estimation policy for measuring expected credit losses is based on actual credit losses in prior

years taking into account forward-looking information in the current period:

Aging Expected rates of credit loss

Within 1 year 5.00%

1-2 years 10.00%

2-3 years 20.00%

3-4 years 50.00%

4-5 years 80.00%

Over 5 years 100.00%

14. Other receivables

Determination and accounting method for expected credit loss of other accounts receivable

The Company's other receivables mainly include account current deposits margin deposits cash reserves and third-party

collections. Depending on the nature of the receivables and the credit risk characteristics of different counterparties the

Company's other receivables are individually subject to a bad-debt provision and an expected credit loss is recognized for the

individual other receivable when there is objective evidence that the other receivable has suffered credit impairment. The

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remaining other receivables are grouped according to the similarity and correlation of credit risk characteristics based on

information such as ageing nature of the amount credit risk exposure and history of repayment as follows:

Portfolio classification Basis for classification Provision method

Aging-based portfolio Accounts receivable with the same aging

Measurement of bad debt provisions

have similar credit risk characteristics based on expected credit losses over theentire period of existence

Related-party portfolio within Receivables from related parties within

consolidation scope the scope of consolidation No provision for bad debts

The Company divides the process of credit impairment of other receivables into three stages and adopts different accounting

treatment methods for the impairment of other receivables in different stages:

Credit risk has not increased significantly since initial recognition (Stage I).For the financial instruments in this stage the Company shall measure the loss provisions based on the expected credit loss

in the next 12 months.Credit risk has increased significantly since initial recognition but has not been impaired (Stage II).For the financial instruments in this stage the Company shall measure the loss provisions based on the expected credit loss

during the entire period of existence.Credit impairment after initial recognition (Stage III).For the financial instruments in this stage the Company shall measure the loss provisions based on the expected credit loss

during the entire period of existence.

15. Contract assets

Contract asset refers to the rights of the Company to receive consideration for goods transferred to the customer which

depend on other factors except for the lapse of time. Where the Company sells two clearly distinguished commodities to the

customer and has the right to collect the payment because one commodity is delivered and the payment relies on the delivery of

the other commodity the Company will treat the collection rights as the contract assets.The Company's accounts receivable (and contract assets) are grouped according to the similarity and relevance of credit risk

characteristics based on the ageing nature of the amount credit risk exposure and history of repayment of accounts receivable

(and contract assets) which are summarized as follows:

Portfolio classification Basis for classification Provision method

Aging-based portfolio Accounts receivable with the same aging

Measurement of bad debt provisions

have similar credit risk characteristics based on expected credit losses over theentire period of existence

Related-party portfolio within Receivables from related parties within

consolidation scope the scope of consolidation No provision for bad debts

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For receivables classified as an aging-based portfolio the Company calculates expected credit losses by referring to

historical credit loss experience and preparing a table comparing the age of the receivables with the expected credit loss rate over

the entire duration of the receivables taking into account current conditions and forecasts of future economic conditions. The

comparison table is based on historical default rates observed over the expected repayment period of the accounts receivable

adjusted for forward-looking estimates. Observed historical default rates are updated on each reporting date and analyzed for

changes in forward-looking estimates.The Company’s accounting estimation policy for measuring expected credit losses is based on actual credit losses in prior

years taking into account forward-looking information in the current period:

Aging Expected rates of credit loss

Within 1 year 5.00%

1-2 years 10.00%

2-3 years 20.00%

3-4 years 50.00%

4-5 years 80.00%

Over 5 years 100.00%

16. Inventory

Inventories of the Company mainly include raw materials low-value consumables goods in-process finished goods and

goods on consignment.Inventories are initially measured by cost. Inventory costs include purchase costs processing costs and other costs. The

Group adopts a perpetual inventory system. The actual cost of inventories issued or consumed is determined using the first-in

first-out (FIFO) method. Low-value consumables and packaging materials are amortized using one-off amortization method.On the balance sheet date inventories are measured at the lower of cost and net realizable value. If the cost of inventories is

higher than their net realizable value a provision for decline in value of inventories is made and recognized in profit and loss for

the current period. Net realizable value is the estimated selling price of inventories in the ordinary course of activities less costs

estimated to be incurred to completion estimated selling expenses and related taxes.For raw materials and finished goods the Company assesses inventory write-downs on an item-by-item basis. In

determining net realizable value: For finished goods goods in-process and materials held for sale net realizable value is

determined based on the estimated selling price less estimated selling expenses and related taxes; for materials held for production

net realizable value is determined based on the estimated selling price of the finished goods less estimated costs to completion

estimated selling expenses and related taxes.For raw and auxiliary materials with large quantities and low unit values provisions for inventory write-down are

determined on a portfolio basis. Net realizable value is determined based on the overall estimated selling price of the inventory

portfolio less estimated selling expenses and related taxes.

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17. Long-term equity investments

Long-term equity investment of the Company includes the investment to the subsidiaries and the equity investment to

associated enterprises and joint ventures.

(1) Determination of significant influence and joint control

Equity investments over which the Company has significant influence are classified as investments in associates. Significant

influence refers to that the Company has the power to participate in the decision-making process with respect to the financial and

operating policies of the investee but does not have the ability to control or jointly control with other parties the formulation of

those policies. The Company is generally considered to have significant influence over an investee when it owns directly or

indirectly through its subsidiaries more than 20% but less than 50% of the investee's voting power unless there is clear evidence

that the Company is unable to participate in the investee’s production and operation decision-making or to develop control over

the investee.An equity investment in an investee in which the Company together with other joint venturers exercises joint control over

the investee and has rights to the net assets of the investee is an investment in a joint venture. Joint control refers to the

contractually agreed sharing of control requiring unanimous consent of all parties sharing control for decisions about relevant

activities. The Company follows the basis to judge the joint control: all the participants or group of participants collectively control

the arrangements and the decisions for activities related to such arrangement must be agreed by all such participants.

(2) Accounting treatment method

The Company initially measures long-term equity investments acquired at initial investment cost.For long-term equity investments acquired through business combinations under common control the initial investment cost

is measured at the share of the carrying value of the acquiree’s net assets in the consolidated financial statements of the ultimate

controlling party on the acquisition date. If the carrying value of net assets is negative the initial investment cost is recognized as

zero.For long-term equity investments acquired through business combinations not under common control the combined cost is

used as the initial investment cost;

Where a business combination not under common control is achieved in stages and does not constitute a package transaction

the initial investment cost is the sum of the carrying value of previously held equity interests and the cost of additional investment.For long-term equity investments acquired other than through business combinations those acquired by cash are initially

measured at the actual purchase price paid plus directly attributable costs taxes and other necessary expenditures. Those acquired

through issuance of equity securities are measured at the fair value of the equity securities issued.The Company's investments in subsidiaries are accounted for using the cost method in certain financial statements. When the

cost method is used long-term equity investments are measured at initial investment cost. When additional investments are made

the carrying value of the cost of long-term equity investments is increased by the fair value of the cost amount paid for the

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additional investment and the related transaction costs incurred. The cash dividends or profits declared to be distributed by the

investee shall be recognized as the current investment income to the extent of the Group’s entitlement.The Company's investments in joint ventures and associates are accounted for using the equity method. When the equity

method is adopted if the initial investment cost of a long-term equity investment exceeds the share of the fair value of the

identifiable net assets of the investee at the time of investment no adjustment is made to the carrying value of the long-term equity

investment; if the initial investment cost of a long-term equity investment is less than the share of the fair value of the identifiable

net assets of the investee at the time of investment the difference is adjusted to the carrying value of the long-term equity

investment and at the same time is recognized in profit and loss for the current period.For long-term equity investment calculated by equity method in subsequent measurement the carrying value of the long-

term equity investment shall be increased or decreased accordingly with the changes in owner’s equity of the investee. In

recognizing the Company’s share of the investee’s net profit and loss such amount is determined based on the fair values of the

investee’s identifiable assets and liabilities on the acquisition date and in accordance with the Company’s accounting policies and

accounting period. In addition unrealized profits and losses arising from transactions between the Company and its associates and

joint ventures that do not constitute a business are eliminated to the extent of the Company’s attributable interest and the

investee’s net profit is adjusted accordingly before recognition. However where such unrealized losses represent impairment

losses on assets they are recognized in full. The Company recognizes net losses incurred by an investee to the extent that the

carrying value of the long-term equity investment and other long-term interests that in substance constitute net investments in the

investee are written down to zero except to the extent that the Company has an obligation to assume additional losses.When disposing the long-term equity investment the balance between the carrying value and the acquired price actually

shall be included in the current profit and loss.(In the case of full disposal of long-term equity investments accounted for under the equity method) Long-term equity

investments accounted for under the equity method the related other comprehensive income previously recognized under the

equity method is accounted for upon cessation of the equity method on the same basis as would apply if the investee had directly

disposed of the related assets or liabilities. In addition any changes in the investee’s equity—other than net profit and loss other

comprehensive income and profit distribution—that had been recognized in equity under the equity method are reclassified in full

to investment income for the current period when the equity method is discontinued.(In the case that a long-term equity investment accounted for under the equity method remains accounted for under the

equity method after partial disposal of the long-term equity investment accounted for under the equity method) If the remaining

equity interest after partial disposal of the long-term equity investment is still accounted for under the equity method the portion

of other comprehensive income previously recognized under the equity method is accounted for on the same basis as would apply

if the investee had directly disposed of the related assets or liabilities and is reclassified to profit and loss on a pro rata basis.Similarly changes in the investee’s equity—other than net profit and loss other comprehensive income and profit distribution—

that had been recognized in equity are reclassified to investment income for the current period on a proportionate basis.(In the case of partial disposal of long-term equity investments accounted for under the equity method and then converted to

financial instruments) If the loss of joint control or significant influence over the investee is caused by the disposal of a portion of

the equity interest the remaining equity interest after disposal is accounted for by applying the Accounting Standard for Business

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Enterprises (ASBE) No. 22 - Recognition and Measurement of Financial Instruments (Cai Kuai [2017] No. 7). The difference

between the fair value and the carrying amount of the remaining equity interest on the date of loss of joint control or significant

influence is recognized in profit and loss for the current period.(In the case that the remaining portion after partial disposal of equity interests in subsidiaries is accounted for under the

equity method) If control over the investee is lost as a result of the disposal of a portion of the long-term equity investment and if

the remaining equity interests after disposal enables the Group to exercise joint control or significant influence over the investee

the equity interests will be reclassified to be accounted for under the equity method with the difference between the carrying value

of the equity interests disposed of and the consideration for the disposal being recognized in investment income and such

remaining equity interests will be treated as if they were accounted for using the equity method from the time of their acquisition.If the remaining equity interest after disposal does not provide joint control or significant influence over the investee the

accounting treatment of Accounting Standard for Business Enterprises No. 22 - Recognition and Measurement of Financial

Instruments (Cai Kuai [2017] No. 7) is applied and the difference between the carrying value of the equity interest disposed of

and the consideration for the disposal is included in the investment income and the difference between the fair value and carrying

value of the remaining equity interest on the date of loss of control is recognized in profit and loss for the current period.(Where there are multiple transactions of stepwise disposal of equity interests in subsidiaries resulting in loss of control) The

Company separately accounts for each transaction of stepwise disposal of equity interests to loss of controlling interest if the

transactions are not part of a package. In case of package transaction all transactions shall be calculated as one transaction of

disposing subsidiaries and losing control power for accounting treatment. However the difference between disposal cost of each

transaction and carrying value of long-term equity investment corresponding to equity disposed before losing control power shall

be recognized as other comprehensive income and then shall be transferred into current profits and losses of losing control power

upon such loss.

18. Investment real estates

Investment real estates held by the Company refer to real estates held for the purpose of earning rental income capital

appreciation or both. Measurement is carried out by cost model.The investment real estates of the Company are depreciated or amortized by the composite life method. The estimated

service life net residual value ratio and annual depreciation (amortization) rate of the investment real estate are as follows:

Category Depreciation period (year) Estimated residual value Annual depreciation rateratio (%) (%)

Buildings and structures 20 years 5.00 4.75

Land use right 50 years 0.00 2.00

19. Fixed assets

(1) Recognition conditions

The Company’s fixed assets are tangible assets held for the production of goods provision of services rental or business

management with service life of more than one year and a unit value of more than RMB 5000.00.

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Fixed assets are recognized when the economic benefits related thereto are likely to flow into the Company and their costs can be

measured reliably. The Company's fixed assets include buildings and structures machinery and equipment electronic equipment

transportation equipment and other equipment.

(2) Depreciation method

Annual depreciation

Category Depreciation method Depreciation method Residual value rate

rate

Buildings and

Straight-line method 20-30 years 5.00% 3.17%-4.75%

structures

Machinery and

Straight-line method 10 years 5.00% 9.50%

equipment

Transportation

Straight-line method 5 years 5.00% 19.00%

equipment

Other equipment Straight-line method 5 years 5.00% 19.00%

20. Construction in progress

Construction in progress is measured at actual construction cost including all necessary expenditures incurred during the

construction period borrowing costs that should be capitalized before the asset reaches its intended usable condition and other

related costs.Construction in progress is transferred to fixed assets upon reaching the intended usable condition. Based on project budgets

construction costs or actual project costs it is carried forward at an estimated value and depreciation is commenced from the

following month. After completion of the final settlement procedures any differences in the original carrying amount of the fixed

assets are adjusted accordingly.Construction in progress is transferred to fixed assets upon reaching the intended usable state based on the following criteria:

Item Standard for carrying forward fixed assets

(1) Physical construction including installation work has been fully completed or substantially completed;

(2) Expenditures incurred on the buildings and structures under construction are minimal or have substantially

Buildings and ceased; (3) The constructed buildings and structures have achieved the design specifications or contractual

structures requirements or are substantially in conformity therewith;

(4) Where a construction project has reached its intended usable condition but the final settlement procedures

have not yet been completed it is transferred to property plant and equipment at an estimated value based on

actual construction cost from the date it reaches the intended usable condition.The equipment management department and the equipment manufacturer are jointly responsible for the

Machinery and installation and commissioning of the equipment including hardware debugging and process condition

equipment adjustments. Once commissioning is completed and the equipment has reached its predetermined usable state it

will be transferred to fixed assets after the approval process is completed.Transportation

equipment Transferred to fixed assets upon reaching the intended usable condition and completion of approval procedures.Other equipment Transferred to fixed assets upon reaching the intended usable condition and completion of approval procedures.

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21. Borrowing costs

The Company capitalizes borrowing costs directly attributable to the construction or production of qualifying assets and

includes them in the cost of the related assets. Other borrowing costs are expensed and recognized in profit or loss for the current

period. Qualifying assets identified by the Company include fixed assets investment properties and inventories that necessarily

take a substantial period of time typically more than one year to get ready for their intended use or sale. Capitalization of

borrowing costs commences when expenditures for the asset have been incurred borrowing costs have been incurred and

activities necessary to prepare the asset for its intended use or sale have begun. Capitalization ceases when the asset is ready for its

intended use or sale and subsequent borrowing costs are recognized in profit and loss for the current period. Where the acquisition

construction or production of a qualifying asset are interrupted abnormally and such interruption lasts for more than three

consecutive months capitalization of borrowing costs is suspended until the activities necessary to prepare the asset for its

intended use or sale resume.During each accounting period of the capitalization period the amount of borrowing costs to be capitalized is determined as

follows: for specific borrowings the amount is based on the actual interest expense incurred during the period less any interest

income earned from the temporary investment of the unused borrowed funds or from deposits with banks; for general borrowings

the amount is determined by applying a capitalization rate to the weighted average of accumulated expenditures in excess of the

amount financed by specific borrowings where the capitalization rate is calculated based on the weighted average interest rate of

the general borrowings.

22. Intangible assets

(1) Service life and its determination basis estimation situation amortization method or review

procedure

The service life its determination basis and the amortization method for each category of intangible assets of the Company

are as follows:

No. Category Amortizationmethod Amortization period Basis of determination

1 Land use right Straight-linemethod 50 years Land grant term

2 Patents Straight-line 10 years The shortest of the estimated service life contractualmethod benefit period and statutory validity period

3 Software Straight-linemethod 3-5 years

The shortest of the estimated service life contractual

benefit period and statutory validity period

4 Trademark or domain Straight-line 10 years The shortest of the estimated service life contractualname method benefit period and statutory validity period

The amortized amount is allocated to the cost of related assets and to current profit and loss according to its beneficiaries.The estimated service life and amortization methods for intangible assets with finite service life are reviewed at the end of each

fiscal year and any changes are treated as changes in accounting estimates.

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(2) Scope of attribution of R&D expenditure and related accounting treatment

The scope of the Company's R&D expenditures primarily includes employee compensation for R&D personnel direct input

costs depreciation and amortization expenses design fees equipment commissioning expenses commissioned external research

and development expenses and other expenditures.The internal R&D expenditures of the Company can be divided into expenditures incurred during the research stage and

those incurred during the development stage depending on the nature of the expenditure and the extent of uncertainty on whether

the R&D activities will finally form intangible assets.Expenditures incurred during the research stage are recognized in current profit and loss as incurred. Expenditures incurred

during the development stage are capitalized only when all of the following conditions are satisfied simultaneously: the Company

has demonstrated the technical feasibility of completing the intangible asset so that it will be available for use or sale; the

Company has the intention to complete and use or sell the intangible asset; the intangible asset is expected to generate economic

benefits for the Company; the Company has adequate technical financial and other resources to complete the development of the

intangible asset and has the ability to use or sell the intangible asset; and the expenditures attributable to the development stage of

the intangible asset can be measured reliably. Expenditures incurred during the development stage that fail to meet the above

conditions shall be included in the current profit and loss as incurred.The development expenditures previously included in the profit and loss statement will not be recognized as assets in

subsequent periods. The expenditures incurred and capitalized at the development stage are recorded as development expenditures

on the balance sheet and will be carried over as the intangible asset on the date when the project is ready for its intended use.If the expenditures made at the research and development stages cannot be distinguished all the R&D expenditures incurred

will be fully included in the current profits and losses. The costs of the intangible assets generated by internal development

activities only include the total expenditures incurred from the time when the capitalization conditions are met to the point when

the intangible assets are used for their intended purposes; for expenditures that are already recorded as such in the profit and loss

statement before the capitalization conditions are met during development of the same intangible asset no adjustments will be

made.

23. Impairment of long-term assets

The Company examines long-term equity investments investment properties measured using the cost model fixed assets

construction in progress right-of-use assets and intangible assets with finite service life on each balance sheet date and performs

impairment testing when there are indications of impairment. Goodwill intangible assets with indefinite service life and

development expenditures not yet ready for intended use are tested for impairment at the end of each reporting period regardless

of whether impairment indicators exist.

(1) Impairment of non-current assets other than financial assets (excluding goodwill)

When conducting impairment testing the Company determines the recoverable amount of an asset as the higher of: (i) the

net amount of fair value less costs of disposal; and (ii) the present value of estimated future cash flows expected to be generated by

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the asset. If after impairment testing the carrying amount of the asset exceeds its recoverable amount the excess is recognized as

an impairment loss.The Company estimates the recoverable amount on an individual asset basis. If it is difficult to estimate the recoverable

amount of an individual asset the recoverable amount is determined based on the asset group to which the asset belongs. An asset

group is identified based on whether the major cash inflows generated by the asset group are largely independent of the cash

inflows from other assets or asset groups.The net amount of fair value less costs of disposal is determined with reference to the sales agreement price of similar assets

in arm’s-length transactions or observable market prices less incremental costs directly attributable to the disposal of the asset. In

determining the present value of estimated future cash flows management is required to estimate the future cash flows expected to

be generated by the asset or asset group and select an appropriate discount rate to determine the present value of those future cash

flows.

(2) Goodwill impairment

For goodwill arising from business mergers the Company allocates its carrying amount to the relevant asset groups in a

reasonable manner from the acquisition date. If it is difficult to allocate goodwill to the relevant asset groups it is allocated to the

relevant group of asset groups. When conducting impairment testing on asset groups or combinations of asset groups that include

goodwill if there are indications of impairment related to the asset group or combination of asset groups with goodwill firstly

conducting impairment testing on the asset group or combination of asset groups without goodwill calculating the recoverable

amount and comparing it with the carrying amount to determine the corresponding impairment loss. Then conducting impairment

testing on the asset group or combination of asset groups with goodwill comparing the carrying amount with the recoverable

amount and if the recoverable amount is lower than the carrying amount the impairment loss amount is firstly offset against the

carrying amount of goodwill in the asset group or combination of asset groups and then proportionally offset against the carrying

amount of other assets in the asset group or combination of asset groups excluding goodwill based on the proportion of their

carrying amounts.The methodology parameters and assumptions used in the goodwill impairment testing are described in Note VII. Notes to

Items in the Consolidated Financial Statements—18. Goodwill

Once recognized impairment losses for the above assets shall not be reversed in subsequent accounting periods.

24. Long-term deferred expenses

The Company's long-term deferred expenses are expenses that have already been paid but are to be amortized over the

current and future periods with an amortization period exceeding one year. Such expenses are amortized on a straight-line basis

over the respective benefit periods. If long-term deferred expense items no longer provide economic benefits to the future

accounting periods the amortized value of such items yet to be amortized shall be fully transferred into the current profits and

losses.

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25. Contract liabilities

Contract liabilities reflect the obligations of the Company to transfer goods to the client for which consideration is received

or receivable from the client. Before the Company transfers goods to the client and the client has paid the consideration in the

contract or the Company has obtained the right of unconditionally collecting the consideration the contract liabilities are

recognized according to the received or receivable amount either at the time of actual payment by the client or when the payment

is due―whichever is earlier.

26. Employee remuneration

(1) Accounting treatment method of short-term compensation

Short-term compensation mainly includes wages bonuses allowances and subsidies employee welfare housing funds

labor union funds employee education funds medical insurance premiums industrial injury insurance premiums and maternity

insurance premiums. In the accounting period during which the employee has rendered service the actual short-term compensation

incurred is recognized as a liability and recorded in the current profits and losses or related asset costs based on the beneficiary.

(2) Accounting treatment method of post-employment benefits

Post-employment benefits primarily include basic pension insurance contributions unemployment insurance contributions

enterprise annuity contributions and other related benefits. Based on the risks and obligations assumed by the Company such

benefits are classified as defined contribution plans. Under defined contribution plans contributions payable to an independent

fund or entity in exchange for employee services rendered during the accounting period are recognized as liabilities on the balance

sheet date and charged to current profit or loss or the cost of related assets according to the beneficiaries of the services.

(3) Accounting treatment method of termination benefits

Termination benefits arise from the termination of employment relationships with employees before the expiration of their

employment contracts by the Company. Employee compensation liabilities arising from termination benefits are recognized and

included in current profit or loss at the earlier of: (i) the date on which the Company can no longer unilaterally withdraw the

termination benefit plan or redundancy proposal; and (ii) the date on which the Company recognizes costs or expenses related to a

restructuring involving the payment of termination benefits. Compensation amounts payable more than one year after the balance

sheet date are discounted and recognized in current profit and loss at their present value.

(4) Accounting treatment method of other long-term employee benefits

Other long-term benefits mainly include long-term incentive plans and long-term benefits. The Company conducts

accounting treatment according to relevant provisions of the defined contribution plans.

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27. Provisions

When obligations relating to contingencies such as external guarantee pending litigation or arbitration product quality

assurance and similar matters also meet the following conditions the Company recognizes it as a liability: the obligation is

currently being undertaken by the Company; there is a high possibility that the fulfillment of the obligation will result in the

outflow of economic benefits from the enterprise; and the amount of the obligation can be reliably measured.Provisions are initially measured according to the best estimate of the expenditure required to settle the present obligation

taking into account factors relating to contingencies such as risks uncertainties and the time value of money. On the balance sheet

date the Company reviews the current best estimates and adjusts the carrying amount of the provisions.For acquired entities not under common control in business mergers contingent liabilities are initially measured at fair

value. After initial recognition subsequent measurement is based on the higher of the amount recognized as a provision or the

remaining balance after deducting cumulative amortization determined by revenue recognition principles from the initial

recognition amount.

28. Share-based payment

Equity-settled share-based payments made in exchange for the service of employees are measured at the fair value on the

date at which the equity instrument is granted to employees. If excisable immediately after the grant the fair value of the equity

instruments shall be included in the relevant costs or expenses on the granting date and the capital reserve shall be increased

accordingly. Where vesting is conditional upon the completion of service during a vesting period or the achievement of specified

performance conditions on each balance sheet date during the vesting period based on the best estimate of the number of equity

instruments expected to vest the Group recognizes the services received during the current period in the relevant costs or expenses

and capital reserve based on the fair value of the equity instruments on the grant date. If the terms of equity-settled share-based

payments are modified the services received are recognized at least as if the terms had not been modified. In addition

modifications that increase the fair value of equity instruments granted or are beneficial to employees measured on the date of

modification are recognized as an additional service received.If equity-settled share-based payments are cancelled they are treated as accelerated exercise on the date of cancellation and

the unrecognized amount is recognised immediately. If an employee or another party chooses not to fulfill a non-vesting condition

during the vesting period this is treated as a cancellation of the equity-settled share-based payment. However if new equity

instruments are granted and it is determined on the grant date that these new equity instruments are intended to replace the

canceled ones then the replacement equity instruments are treated in the same manner as a modification of the terms and

conditions of the original equity instruments.Cash-settled share-based payments shall be measured at the fair value of liabilities and recognized on the basis of share

options or other equity instruments undertaken by the Company. If excisable immediately after the grant the fair value of the

liabilities assumed shall be included in the relevant costs or expenses on the granting date and the liabilities shall be increased

accordingly. If it is necessary to complete the services in the waiting period or achieve the specified performance conditions before

the right is excisable on each balance sheet date of the waiting period the services acquired in the current period shall be included

in the cost or expense based on the best estimation of the excisable right and the liabilities shall be adjusted accordingly according

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to the fair values of the liabilities assumed by the Company. On each balance sheet date and settlement date prior to the settlement

of relevant liabilities the fair value of the liabilities will be re-measured with any changes recorded in the profits and losses at the

current period.

29. Income

Disclose the accounting policies adopted for revenue recognition and measurement by business type

The Company recognizes the income upon fulfillment of its performance obligations within the contract that is when the

client obtains control of the relevant goods or services. Acquisition of control over relevant goods or services means the ability to

manage the use of such goods or the provision of services and to receive almost all economic benefits therefrom.

(1) General recognition principle

The contract is evaluated on the commencement date of the contract identifying each individual performance obligation

included in that contract and determining whether each individual performance obligation is to be performed over a period of time

or at a point in time and then revenue is recognized separately when each individual performance obligation has been satisfied.A performance obligation is fulfilled over time if one of the following conditions is met; otherwise the performance

obligation is fulfilled at a point in time:

1) The customer obtains and consumes the economic benefits while the Company fulfills the performance obligations;

2) The customer can control goods or services still under construction while the Company is still in the process of fulfilling

the performance obligations;

3) The goods manufactured while the Company is in the process of performing the contract are indispensable and the

Company has the right to collect partial payments for the cumulative performance obligations that have been fulfilled so far within

the contract period.For performance obligations that are to be fulfilled within a certain period of time the Company shall recognize revenue

over that period of time based on the progress of performance unless the progress of performance is not reasonably determinable.If the performance progress cannot be reasonably determined and the costs incurred by the Company are expected to be

compensated the revenue shall be ascertained according to the costs incurred until the performance progress can be reasonably

determined.If the performance obligations are performed at the specified time point the Company shall recognize the revenue at the

time when the customer obtains control over the relevant goods. In judging whether the customer has obtained control over goods

the Company shall consider the following signs:

1) The Company has a present right to receive payment for the goods i.e. the customer has a present obligation to pay for

the goods;

2) The Company has transferred legal ownership of the goods to the customer i.e. the customer has legal ownership of the

goods;

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3) The Company has physically transferred the goods to the customer i.e. the customer has taken physical possession of the

goods;

4) The Company has transferred the principal risks and rewards of ownership of the goods to the customer i.e. the customer

has acquired the principal risks and rewards of ownership of the goods;

5) The customer has accepted the goods;

6) Other indications that the customer has gained control of the goods.

(2) Measurement principles

The Company shall measure revenue based on the transaction price apportioned to each individual performance obligation.If the contract contains two or more performance obligations the Company shall apportion the transaction price to each individual

performance obligation in the relative proportion of the standalone selling price of the promised goods associated with each

individual performance obligation on the commencement date of the contract. In determining the transaction price the Company

considers the following factors:

1) where the contract contains variable consideration the Company determines the best estimate of the variable

consideration using either the expected value method or the most likely amount method; however the transaction price that

includes variable consideration shall not exceed the amount for which it is highly probable that a significant reversal in cumulative

recognized revenue will not occur when the relevant uncertainty is subsequently resolved;

2) where the contract contains a significant financing component the Company determines the transaction price based on the

amount that the customer would have paid in cash if payment had been made when control of the goods was transferred to the

customer;

3) where the customer provides non-cash consideration the Company determines the transaction price based on the fair

value of the non-cash consideration; and

(4) where the Company pays consideration to a customer (or to a third party that purchases the Company’s goods from the

customer) such consideration shall reduce the transaction price and be recognized as a reduction of current-period revenue at the

later of: (i) the recognition of the related revenue; or (ii) the payment or commitment to pay such consideration to the customer

unless the consideration payable to the customer is in exchange for other distinct goods or services obtained from the customer.

(3) Specific confirmation methods

Operating income of the Company are mainly from sales of goods and transferring right to use assets.

1) Revenue from sales of goods

The Company sells electrical appliances spare parts materials and other products. Such sales constitute performance

obligations satisfied at a point in time.Revenue recognition conditions for domestic sales: The Company has delivered the product to the customer according to the

contract terms and the customer has received the product; the payment has been collected or the receipt voucher has been provided

and relevant economic profits might flow into the Company; main risks and remuneration as for the ownership of the goods have

been transferred; and legal ownership and control right of the goods have been transferred.

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Revenue recognition conditions for exported sales: The Company has declared the product to the customs and the product

has been delivered according to the contract terms; the bill of lading has been obtained the payment has been collected or the

receipt voucher has been provided and relevant economic profits might flow into the Company; main risks and remuneration as for

the ownership of the goods have been transferred; and legal ownership and control right of the goods have been transferred.

2) Revenue from granting rights to use assets

Contracts between the Company and customers relating to the leasing of properties constitute performance obligations

satisfied over time. Revenue is recognized over the lease term based on the progress toward satisfaction of the performance

obligations. The situation involves different revenue recognition methods and measurement methods for similar businesses using

different operating models.The situation involves different revenue recognition methods and measurement methods for similar businesses using different

operating models.

30. Contract costs

(1) Methods for determining asset amount related to contract cost

The Company’s assets related to the contract cost comprise the contract performance cost and the contract acquisition cost.Depending on their liquidity costs to fulfill a contract are presented under inventories or other non-current assets while costs to

obtain a contract are presented under other current assets or other non-current assets.Costs to fulfill a contract refer to costs incurred by the Company in fulfilling a contract that are outside the scope of other

relevant accounting standards governing inventories fixed assets intangible assets and similar items and that simultaneously

satisfy all of the following conditions in which case they are recognized as assets related to contract fulfillment costs: the costs are

directly related to a specific current or expected contract including direct labor direct materials manufacturing overheads (or

similar costs) costs explicitly borne by the customer and other costs incurred solely due to the contract; the costs enhance the

Company's resources for fulfilling future performance obligations; and the costs are expected to be recoverable.The contract acquisition cost refers to the incremental cost incurred by the Company for the purpose of securing a contract

which will be recognized in the form of contract acquisition cost as an asset if it is expected to be recovered. If the amortization

period of such asset does not exceed one year the Company opts for the simplified treatment of current profit and loss when

incurred. Incremental cost refers to the cost which will not incur unless a contract is secured (e.g. sales commission etc.). Other

costs (such as the travel expense whether or not the contract will be acquired except the incremental cost which can be recovered

as expected) incurred the Company for purpose of acquiring the contract shall be included in the current profit or loss at the time

of occurrence unless those clearly specified to be borne by the customer.

(2) Amortization of assets related to contract cost

The Company’s assets related to contract costs are amortized on the same basis as revenue recognition of goods related to

the asset and recorded in the current profits or losses.

(3) Impairment of assets related to contract cost

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Where the carrying amount of assets related to contract costs exceeds the difference between the following two amounts the

Company recognizes an impairment provision for the excess and records it as an asset impairment loss: * the remaining

consideration that the enterprise expects to receive in exchange for transferring the goods related to the asset; and * the estimated

costs to be incurred in transferring the related goods.

31. Government subsidies

Government subsidies are recognized when the conditions attached to them are met and it is probable that the subsidies will

be received. If a government subsidy is a monetary asset it will be measured at the amount received; for the subsidy appropriated

according to the fixed quota or for the subsidy where there is concrete evidence showing that the Company is qualified to receive

governmental financial support and will be able to receive the support by the end of the period the subsidy will be measured at the

receivable; if the government subsidy is a non-monetary asset it will be measured at the fair value or measured at its nominal

amount (RMB 1) if the fair value cannot be obtained reliably.Asset-related government subsidies refer to government subsidies obtained by the Company for purchasing and acquiring

long-term assets or forming long-term assets by other ways. Income-related government subsidies refer to those other than asset-

related government subsidies. In case the purpose of a subsidy is not expressly stipulated in the government document the

Company will categorize the subsidy according to these above principles. If it is difficult to categorize the subsidy it will be

categorized as the income-related government subsidy.If a government subsidy relating to assets is recognized as deferred income such subsidy is recognized in the current profit

and loss based on equal division within the service life of the relevant asset. If the relevant asset has been sold transferred retired

or damaged before the end of the service life the balance of the relevant deferred income that has not been allocated will be

transferred into the current profit and loss of asset disposal.Government subsidies relating to income that compensate future costs expenses or losses are recognized as deferred income

and recognized in the current profit and loss in the period of reporting the related costs expenses or losses. The government

subsidies relating to the ordinary activities are included in other income or deducted against relevant costs and expenses according

to the nature of the accounting event otherwise they are included in non-operating income. Government subsidies unrelated to

daily activities will be included in non-operating income.Where the Company obtains interest subsidies on policy-based preferential loans the accounting treatment differs depending

on whether the fiscal authority disburses the interest subsidy funds to the lending bank or directly to the Company and is

accounted for in accordance with the following principles: (1) Where the fiscal authority disburses the interest subsidy funds to the

lending bank and the lending bank provides loans to the Company at a policy-based preferential interest rate the Company

recognizes the actual amount of borrowings received as the carrying amount of the loan and calculates the related borrowing costs

based on the loan principal and the policy-based preferential interest rate. (2) Where the Ministry of Finance directly appropriate

the interest subsidy to the Company the Company will deduct the corresponding interest subsidy against the borrowing costs.

32. Deferred income tax asset/deferred income tax liability

Deferred income tax assets and deferred income tax liabilities of the Company are recognized based on the differences

between the tax bases of assets and liabilities and their carrying amounts as well as the differences (temporary differences)

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between the tax bases and carrying amounts of items that are not recognized as assets or liabilities but whose tax bases can be

determined in accordance with tax laws.The Company recognizes deferred income tax liabilities for all taxable temporary differences except: (1) temporary

differences arising from the initial recognition of goodwill or the initial recognition of assets or liabilities arising from transactions

other than business combinations that affect neither the accounting profit nor taxable income (or deductible losses); (2) taxable

temporary differences related to investments in subsidiaries associates and joint ventures where the Company is able to control

the timing of the reversal of the temporary differences and it is probable that the temporary differences will not reverse in the

foreseeable future.The Company recognizes deferred income tax assets for deductible temporary differences deductible losses and tax credits

to the extent that it is probable that future taxable income will be available against which the deductible temporary differences

deductible losses and tax credits can be utilized except: (1) the temporary differences arising from the initial recognition of assets

or liabilities in a transaction that is not a business combination that affects neither the accounting profit nor taxable income (or

deductible losses); and (2) deductible temporary differences associated with investments in subsidiaries associates and joint

ventures unless both of the following conditions are satisfied simultaneously: the temporary differences are probable to reverse in

the foreseeable future and sufficient taxable income will probably be available in the future against which the deductible

temporary differences can be utilized.The Company recognizes deferred income tax assets for all unused deductible losses to the extent that it is probable that

sufficient taxable income will be available against which the deductible losses can be utilized. Management exercises significant

judgment in estimating the timing and amount of future taxable income and together with tax planning strategies determines the

amount of deferred income tax assets to be recognized; accordingly uncertainties exist.On the balance sheet date the deferred income tax asset and liability are measured at the applicable tax rates during the

period when the asset is realized or the liability is settled as expected.Deferred income tax assets and deferred income tax liabilities are presented at net amounts after offsetting when the

following conditions are simultaneously met: the Company has the legal right to settle current income tax assets and current

deferred income tax liabilities on a net basis; the deferred income tax assets and deferred income tax liabilities are related to

income taxes levied by the same tax authority on the same taxable entity or on different taxable entities but will not be realized in

future periods. In each period in which significant deferred income tax assets and deferred income tax liabilities are reversed the

taxable entity involved intends to either settle the current income tax assets and current income tax liabilities on a net basis or to

realize the assets and settle the liabilities at the same time.

33. Lease

(1) Accounting treatment of the lease as lessee

1） Lease confirmation

Except for short-term leases and leases of low-value assets the Company recognizes right-of-use assets and lease liabilities

for leases on the lease commencement date.

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The right-of-use asset refers to the right of the Company as a lessee to use the leased assets during the lease term and is

initially measured at cost. The cost includes: * initial measurement amount of lease liabilities; * the amount of lease payment

made on or before commencement date of lease term less any lease incentives received; * the initial direct cost incurred; * costs

expected to be incurred to disassemble and remove the leased assets restore the site where the leased assets are located or restore

the leased assets to the conditions as agreed under the terms of the lease (excluding costs incurred to produce the inventory).Where the Company remeasures the lease liabilities according to relevant provisions of the lease criterion the carrying value of

the use-of-right asset shall be adjusted correspondingly.The Company depreciates right-of-use assets on a straight-line basis based on the manner in which the economic benefits

associated with the right-of-use asset are expected to be consumed. Where ownership of the leased asset is reasonably certain to be

obtained at the end of the lease term depreciation is provided over the remaining service life of the leased asset. Where it is not

reasonably certain that the ownership of the lease assets can be obtained upon expiry of lease term the lease assets shall be

depreciated over the shorter of the lease term and the remaining service life of the lease assets. The accrued depreciation amount

shall be recognized as the cost of relevant assets or current profit and loss according to the purpose of the right-of-use assets.The Company shall initially measure the lease liabilities according to the present value of the lease payment unpaid on the

commencement date of the lease term. Lease payments include: * fixed payments and substantially fixed payments net of

amounts related to lease incentives; * variable lease payments that depend on indices or ratios; * the exercise price of the

purchase option in the event that the Company reasonably determines that the purchase option will be exercised; * payments to

be made upon exercise of the termination option in the event that the lease term reflects that the Company will exercise its

termination option; and * payments expected to be made based on the residual value of the guarantees provided by the Company.In calculating the present value of the lease payments the Company adopts the interest rate embedded in the lease as the

discount rate. If the Company is unable to determine the interest rate embedded in the lease it will adopt the incremental

borrowing rate as the discount rate. The interest expenses of lease liabilities in each period of the lease term are calculated by the

Company in accordance with the fixed periodic interest rate and are included in the current profit and loss unless capitalization is

required.After the commencement date of the lease term the carrying amount of the lease liability is increased to reflect interest on

the lease liability and reduced to reflect lease payments made. Where there are changes in in-substance fixed payments changes in

expected amounts payable under residual value guarantees changes in the indices or ratios used to determine lease payments or

changes in the assessment or actual exercise of purchase options renewal options or termination options the Company

remeasures the lease liability based on the present value of the revised lease payments.

2) Lease change

Lease change refers to the change in lease scope lease consideration and lease term beyond the terms of the original contract

including increasing or terminating the right to use one or more leased assets extending or shortening the lease term stipulated in

the contract etc. The effective date of lease change refers to the date when the Parties reach the agreement on lease change.

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When the lease changes and meets the following conditions the Company will treat it as a separate lease: * the lease

change expands the lease scope by adding one or more right-of-use leased assets or extended leases; * the increased consideration

is equivalent to the single price of the expanded lease scope or extension of lease term adjusted according to the contract.In case where accounting treatment is not made for lease change as a single lease on the effective date of lease change the

Company will appropriate the consideration of the changed contract according to the relevant provisions of the lease criteria and

redefine the updated lease term. In addition the Company will discount the changed lease payment according to the revised

discount rate so as to remeasure the lease liabilities. With regard to the impact of the above adjustment of lease liabilities the

Company adopts accounting methods in the following situations: * In the event that the lease scope is narrowed down or the lease

term is shortened as a result of the lease change the lessee shall reduce the carrying value of the right-of-use assets and the

relevant gains or losses from the partial or complete termination of the lease shall be included into the current profit and loss. *

For the lease liabilities remeasured due to other lease changes the lessee shall adjust the carrying value of the right-of-use assets

accordingly.

3) Short-term leases and leases of low-value assets

For short-term leases with a lease term of no more than 12 months and low-value asset leases at a low value when individual

leased assets are brand new the Company chooses not to recognize the right-of-use assets and lease liabilities. Lease payments

under short-term leases and leases of low-value assets are recognized by the Company on a straight-line basis or other systematic

and reasonable basis over the lease term and included into the cost of the related assets or the current profit and loss.

4) Sale-and-Leaseback

The Company as the seller and lessee in a sale and leaseback transaction evaluates whether the transfer of the relevant

underlying asset constitutes a sale based on Note V. X. Lease. Where the Company determines that the transfer does not constitute

a sale the Company continues to recognize the transferred asset and recognizes a financial liability equal to the transfer proceeds

received. Where the transfer constitutes a sale the Company measures the right-of-use asset arising from the leaseback at the

proportion of the previous carrying amount of the asset that relates to the right of use retained through the leaseback and

recognizes only the amount of any gain or loss relating to the rights transferred to the lessor.

(2) Accounting treatment of the lease as lessor

The Company as lessor classifies a lease as a finance lease if it transfers substantially all the risks and rewards incidental to

ownership of the leased asset; otherwise it is classified as an operating lease.

1) Financial lease

On the commencement date of lease term the Company recognizes finance lease receivables for finance lease and

derecognizes finance lease assets. Upon initial measurement of financial lease accounts receivable the Company takes net

investment in lease as entry value of financial lease accounts receivable.

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Net investment in lease is the sum of unsecured residual value and the present value of outstanding lease receipts discounted

on interest rate implicit in lease on the commencement date of the lease term. The Company calculates and recognizes the interest

income in each period of the lease term according to the fixed periodic rate. Variable lease payments acquired by the Company

that are not included in the measurement of the net investment in leases are recognized in profit and loss when they are actually

incurred.

2) Operating lease

The Company adopts the straight-line method or other systematic and reasonable methods to recognize the lease receipts

from operating leases as rental income during all periods within the lease term.The initial direct costs incurred by the Company related to the operating lease are capitalized to the cost of leased underlying

asset and shall be included in current profits and losses on the same basis as recognition of rental income during the lease term.Variable lease payments acquired by the Company in connection with operating leases that are not included in the lease receipts

are recognized in the current profits and losses when actually incurred.In case of changes in the operating lease the Company will treat it as a new lease as of the effective date of the change and

the lease advance or accounts receivable related to the lease before the change will be regarded as the amount received from the

new lease.

3) Sale-and-Leaseback

When the Company acts as the buyer and lessor in a sale and leaseback transaction and the control of the related underlying

assets has not been transferred to the Company the Company does not recognize the transferred assets but recognizes a financial

asset equal to the proceeds from the transfer; when the control of the related underlying assets has been transferred to the

Company and the transfer of the assets constitutes a sale the Company accounts for the purchase of the assets and the lease of the

assets in accordance with the aforementioned policy.

34. Other significant accounting policies and accounting estimates

35. Significant changes in accounting policy and accounting estimate

(1) Significant accounting policy changes

□Applicable□Not applicable

(2) Significant accounting estimate changes

□Applicable□Not applicable

(3) Relevant financial statement items at the beginning of 2026 when the adjustments stipulated in the new accounting

standards apply for the first time

□Applicable□Not applicable

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36. Others

VI. Taxation

1. Main tax categories and tax rates

Category Tax base Tax rate

Revenue from sales of goods installation

VAT 13% 9% 6% 5%

work technical services house lease

City maintenance and construction tax Turnover tax payable 7.00%

Business income tax Taxable income 15% 25% 20%

Education surcharge Turnover tax payable 3.00%

Local education surcharge Turnover tax payable 2.00%

70% of the original value of the property

Property tax 1.20% 12.00%

rental income

Land use tax Total land area RMB 1.5-20/m2

Disclosure of taxpayers with different corporate income tax rates

Name of taxpayer Income tax rate

Hangzhou Robam Appliances Co. Ltd. 15%

Shanghai Robam Appliances Sales Co. Ltd. 25%

Beijing Robam Appliances Sales Co. Ltd. 25%

Hangzhou MingQi Electric Co. Ltd. 25%

Shengzhou Kinde Intelligent Kitchen Appliances Co. Ltd. 15%

Shengzhou Dijia Technology Co. Ltd. 20%

De Dietrich Household Appliances Trading (Shanghai) Co.

20%

Ltd.Hangzhou Jinhe Electric Appliances Co. Ltd. 25%

Hangzhou Robam Fuchuang Investment Management Co. Ltd. 20%

Robam Appliances Holding (HK) Co. Ltd. (Note 1) Two-tiered tax system

Robam International (HK) Trading Co. Ltd. (Note 1) Two-tiered tax system

Robam Appliances U.S. Holding Co. Ltd. (Note 2) Fixed + variable tax system

Robam Appliances Los Angeles Trade LLC (Note 3) Fixed + variable tax system

Robam Appliances (HK) Excellence Co. Ltd. (Note 1) Two-tiered tax system

Indonesia Robam Appliances LLC 22%

Robam Appliances International Trading (Malaysia) Co. Ltd. 24%

Hangzhou Robam E-commerce Co. Ltd. 25%

Chengdu Robam Innovation Technology Co. Ltd. 20%

Ningbo Jinhe E-commerce Co. Ltd. 20%

Hangzhou Yuhang Jinhe E-commerce Co. Ltd. 20%

Chengdu Robam E-commerce Co. Ltd. 25%

Qingdao MingQi E-commerce Co. Ltd. 20%

Wuhan Jinhe E-commerce Co. Ltd. 20%

Hangzhou Robam Commercial Kitchen Technology Co. Ltd. 20%

Hainan Robam Intelligent Technology Co. Ltd. 20%

Robam Appliances Investment (HK) Co. Ltd. (Note 1) Two-tiered tax system

2. Preferential tax policy

(1) Preferential income tax policy

89Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

The Company obtained the Certificate of High-Tech Enterprise (Certificate No.: GR202333003384) jointly issued by

Department of Science and Technology of Zhejiang Province Zhejiang Provincial Department of Finance Zhejiang Provincial

Tax Service State Taxation Administration on December 8 2023. The certificate is valid for 3 years. According to the relevant

provisions after being identified as a high-tech enterprise the Company will enjoy the relevant preferential policies of the state on

high-tech enterprises for three consecutive years (i.e. the Company is entitled to the preferential income tax policy from January

01 2023 to December 31 2025) and the corporate income tax shall be levied at the rate of 15%.

According to the Announcement of the State Taxation Administration on the Implementation of Preferential Income Tax

Policy for Hi-tech Enterprises (Announcement 2017 No. 24 of the State Taxation Administration) an enterprise shall prepay the

income tax temporarily at the rate of 15% before passing the re-certification in the year when the enterprise's Certificate of High-

Tech Enterprise expires and if it still fails to obtain the qualification as a high-tech enterprise before the end of the year it shall

make up for the taxes of the corresponding period in accordance with the regulations The Company has reapplied for the

qualification of high-tech enterprise. Before the recognition is approved the corporate income tax will be temporarily prepaid at a

tax rate of 15% in 2026

The subsidiary of the Company Shengzhou Kinde Intelligent Kitchen Appliances Co. Ltd. obtained the Certificate of

High-tech Enterprise (Certificate No.: GR202533001951) jointly issued by Department of Science and Technology of Zhejiang

Province Zhejiang Provincial Department of Finance and Zhejiang Provincial Tax Service State Taxation Administration on

December 19 2025. After the recognition it will enjoy the preferential tax policy of the state on high-tech enterprises for three

consecutive years (i.e. it is entitled to the preferential income tax policy from January 1 2025 to December 31 2027) and its

corporate income tax shall be levied at the tax rate of 15%.The Company's subsidiaries Hangzhou Robam Fuchuang Investment Management Co. Ltd. Shengzhou Dijia Technology

Co. Ltd. De Dietrich Household Appliances Trading (Shanghai) Co. Ltd. Chengdu Robam Innovation Technology Co. Ltd.Ningbo Jinhe E-commerce Co. Ltd. Hangzhou Yuhang Jinhe E-commerce Co. Ltd. Qingdao MingQi E-commerce Co. Ltd.Wuhan Jinhe E-commerce Co. Ltd. and Hangzhou Robam Commercial Kitchen Technology Co. Ltd. and Hainan Robam

Intelligent Technology Co. Ltd. are entitled to the preferential tax policy for small and low-profit enterprises pursuant to

Announcement No. 12 [2023] of the Ministry of Finance and the State Taxation Administration Announcement on Further

Supporting the Development of Small and Micro Enterprises and Individually Owned Businesses Through Tax and Fee Policies.Under this policy taxable income is calculated at 25% of the taxable income amount and enterprise income tax is levied at a rate

of 20%. The policy will continue to be implemented through December 31 2027.

(2) Preferential VAT policy

According to the Notice on Value-Added Tax Policies for Software Products Issued by the Ministry of Finance and the State

Taxation Administration (CS [2011] No. 100) the Company's sales of embedded software products are eligible for immediate

VAT refund after collection.According to the Announcement No. 43 of 2023 issued by the Ministry of Finance and the State Administration of Taxation

Announcement on the Additional Value-Added Tax Credit Policy for Advanced Manufacturing Enterprises the Company will

enjoy the policy of incremental deduction of 5% of the payable value-added tax amount by advanced manufacturing enterprises

based on the deductible input tax amount for the period from January 1 2023 to December 31 2027.

90Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

3. Others

Note 1: The Company's subsidiaries Robam Appliances Holding (HK) Co. Ltd. Robam International (HK) Trading Co.Ltd. Robam Appliances (HK) Excellence Co. Ltd. and Robam Appliances Investment (HK) Co. Ltd. are subject to the Hong

Kong Profits Tax regime. Under the two-tiered tax system taxable profits up to HKD 2.00 million are subject to a tax rate of

8.25% while the portion of taxable profits exceeding HKD 2.00 million is taxed at a rate of 16.50%.

Note 2: The Company's indirectly controlled subsidiary Robam Appliances U.S. Holding Co. Ltd. is subject to the tax

policies of the State of Delaware United States which apply a fixed tax rate plus variable tax amount/rate system. The applicable

tax amounts are as follows:

Total annual gross revenue (USD) Fixed tax rate Variable tax amount + rate (USD)

＜500008.7%15%

50000-75000 8.7% 7500 + 25% of the excess over 50000

75000-100000 8.7% 13750 + 34% of excess over 75000

100000-335000 8.7% 22250 + 39% of excess over 100000

335000-10000000 8.7% 113900 + 34% of excess over 335000

10000000-15000000 8.7% 3400000 + 35% of the excess over 10000000

15000000-18333333 8.7% 5150000 + 38% of the excess over 15000000

≥18333333 8.7% 6416667 + 35% of the excess over 18333333

Note 3: Robam Appliances Los Angeles Trade LLC an indirectly controlled subsidiary of the Company is subject to the tax

policies of the State of California United States which apply a fixed tax plus variable tax system. The applicable tax amounts are

as follows:

Total annual gross revenue (USD) Fixed tax amount (USD) Variable tax amount (USD)

＜250000800

250000-499999800900

500000-9999998002500

1000000-49999998006000

≥500000080011790

VII. Notes to Items in the Consolidated Financial Statements

1. Cash and cash equivalents

In RMB

Item Ending balance Beginning balance

Cash in hand 102922.02 90657.72

Deposit in bank 1504839595.49 1167338722.58

Other cash and cash equivalents 64988828.73 68828480.23

Total 1569931346.24 1236257860.53

Including: total amount of funds 12060140.86 10894779.09

91Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

deposited overseas

Other description

The other cash and cash equivalents are RMB 64988828.73 including the L/G margin deposit of RMB 59235811.47 the bill

acceptance margin of RMB 4860000.16 and the ETC margin of RMB 14000.00 the uses of which are limited; and the Alipay

and WeChat wallet balance is RMB 879017.10 which can be withdrawn without any limit at any time.

2. Financial assets held for trading

In RMB

Item Ending balance Beginning balance

Financial assets measured at fair value

2640000000.003230000000.00

through profit and loss

Including:

Structured deposits 1100000000.00 1800000000.00

Financial products 1540000000.00 1430000000.00

Including:

Total 2640000000.00 3230000000.00

3. Notes receivable

(1) Classified presentation of notes receivable

In RMB

Item Ending balance Beginning balance

Banker’s acceptance 535068020.34 577431523.95

Trade acceptance 780000.00 1056336.42

Less: provision for bad debts 39000.00 52816.82

Total 535809020.34 578435043.55

(2) Classification of disclosure according to the bad debt provision method

In RMB

Ending balance Beginning balance

Book balance Bad debt reserve Book balance Bad debt reserve

Categor Percenta Percenta

y Carrying CarryingPercenta ge of

Amount Amount value

Percenta ge of

Amount Amount value

ge (%) provisio ge (%) provisio

n n

Notes

receivab

le with

an

individu 0.00 0.00% 0.00 0.00% 0.00 0.00 0.00% 0.00 0.00% 0.00

al bad

debt

provisio

n

92Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Includ

ing:

Notes

receivab

le with

provisio

53584839000.053580957848752816.8578435

n for bad 100.00% 0.01% 100.00% 0.01%

020.340020.34860.372043.55

debts on

a

collectiv

e basis

Includ

ing:

Banker’s

535068535068577431577431

acceptan 99.85% 0.00 0.00% 99.82% 0.00 0.00%

020.34020.34523.95523.95

ce

Trade

780000.39000.0741000.10563352816.8100351

acceptan 0.15% 5.00% 0.18% 5.00%

000006.4229.60

ce

53584839000.053580957848752816.8578435

Total 100.00% 0.01% 100.00% 0.01%

020.340020.34860.372043.55

If provision for bad debts of notes receivable is made according to the general model of expected credit loss:

□Applicable□Not applicable

(3) Bad debt provision and its recovery or reversal in the current period

Bad debt provision in the current period:

In RMB

Amount of change in the current period

Beginning

Category

balance Recovery or

Ending balance

Provision Write-off Others

reversal

Bad debt

provision for

52816.820.0013816.820.000.0039000.00

notes

receivable

Total 52816.82 0.00 13816.82 0.00 0.00 39000.00

Significant recoveries or reversals of provisions for bad debts during the reporting period:

□Applicable□Not applicable

4. Accounts receivable

(1) Disclosure by aging of accounts

In RMB

Book balance at the beginning of the

Aging Book balance at the end of the period

period

Within 1 year (including 1 year) 1348804179.53 1229707366.34

1-2 years 173751010.63 198352510.27

2-3 years 191715692.90 316491000.44

93Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Over 3 years 426314803.52 329461925.46

3-4 years 170973255.04 203098560.52

4-5 years 189993671.22 106648765.68

Over 5 years 65347877.26 19714599.26

Subtotal 2140585686.58 2074012802.51

Less: provision for bad debts 539836870.31 572238179.28

Total 1600748816.27 1501774623.23

(2) Classification of disclosure according to the bad debt provision method

In RMB

Ending balance Beginning balance

Book balance Bad debt reserve Book balance Bad debt reserve

Categor Percenta Carrying Percentay CarryingPercenta ge of Percenta ge of

Amount Amount value Amount Amount value

ge (%) provisio ge (%) provisio

n n

Account

s

receivab

le with

provisio 654884 414292 240592 772629 466600 306028

30.59%63.26%37.25%60.39%

n for bad 981.47 307.72 673.75 500.18 596.37 903.81

debts on

an

individu

al basis

Includ

ing:

Account

s

receivab

le with

provisio 148570 125544 136015 130138 105637 119574

69.41%8.45%62.75%8.12%

n for bad 0705.11 562.59 6142.52 3302.33 582.91 5719.42

debts on

a

collectiv

e basis

Includ

ing:

Aging-

148570125544136015130138105637119574

based 69.41% 8.45% 62.75% 8.12%

0705.11562.596142.523302.33582.915719.42

portfolio

214058539836160074207401572238150177

Total 100.00% 25.22% 100.00% 27.59%

5686.58870.318816.272802.51179.284623.23

Category by individual bad debt provision:

In RMB

Beginning balance Ending balance

Name

Book balance Bad debt reserve Book balance Bad debt reserve Percenta Reasons for

94Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

ge of provision

provisio

n

Expected to be

Unit 1 182374947.60 87850013.32 139487225.91 69870478.34 50.09% difficult to fully

recover

Expected to be

Unit 2 94692708.65 65299506.65 94423248.00 64840631.32 68.67% difficult to fully

recover

100.00 Expected to be

Unit 3 71896103.57 71896103.57 71808376.05 71808376.05

% difficult to recover

Expected to be

Unit 4 89342910.96 26845843.67 42062439.02 12618731.71 30.00% difficult to fully

recover

Expected to be

Unit 5 30605439.56 13917042.04 34677639.87 16767582.26 48.35% difficult to fully

recover

Expected to be

Unit 6 22008442.37 14471075.41 22281046.87 14661898.56 65.80% difficult to fully

recover

Expected to be

Unit 7 22235928.00 14842515.85 20793789.68 13833019.03 66.52% difficult to fully

recover

Expected to be

Unit 8 14153466.07 8329895.14 13098654.75 7729027.21 59.01% difficult to fully

recover

Expected to be

Unit 9 11666204.38 7101201.84 11082229.31 6831522.30 61.64% difficult to fully

recover

Expected to be

Unit 10 9785174.12 6849621.88 9785174.12 6849621.88 70.00% difficult to fully

recover

Expected to be

Unit 11 6149051.83 4304336.28 6149051.83 4304336.28 70.00% difficult to fully

recover

Expected to be

Unit 12 5729564.29 3684795.00 5454207.48 3492045.24 64.02% difficult to fully

recover

Summary Expected to be

of other 211989558.78 141208645.72 183781898.58 120685037.54 65.67% difficult to fully

companies recover

Total 772629500.18 466600596.37 654884981.47 414292307.72

Category for bad debt provision on a collective basis: account age

In RMB

Ending balance

Name

Book balance Bad debt reserve Percentage of provision

Within 1 year 1255275531.49 62767098.57 5.00%

1-2 years 108838091.16 10883809.12 10.00%

2-3 years 59022736.30 11804547.26 20.00%

3-4 years 40369126.38 20184563.19 50.00%

4-5 years 11453376.64 9162701.31 80.00%

Over 5 years 10741843.14 10741843.14 100.00%

Total 1485700705.11 125544562.59

Description on basis for determining portfolio：

95Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

If provision for bad debts of accounts receivable is made according to the general model of expected credit loss:

□Applicable□Not applicable

(3) Bad debt provision and its recovery or reversal in the current period

Bad debt provision in the current period:

In RMB

Amount of change in the current period

Beginning

Category Recovery or Ending balancebalance Provision Write-off Others

reversal

Bad debt

reserves for

572238179.2838392866.8032606523.74852940.1037334711.93539836870.31

accounts

receivable

Total 572238179.28 38392866.80 32606523.74 852940.10 37334711.93 539836870.31

Significant recoveries or reversals of provisions for bad debts during the reporting period:

In RMB

Basis and

reasonableness of

Unit Recovery or reversal Reason for reversal Recovery method determining the

original provision ratio

for bad debts

The debtor experiences

cash flow difficulties

Collection of accounts

Unit 1 47715404.44 Bank transfer offset and it is expected to be

receivable

difficult to fully

recover

Total 47715404.44

(4) Accounts receivable actually written off in the current period

In RMB

Item Amounts written off

Accounts receivable actually written off 852940.10

(5) Top five debtors with the largest ending balances of accounts receivable and contract assets

In RMB

Proportion in the Closing balance of

Closing balance of total ending provision for bad

Ending balance of

Ending balance of accounts balance of debts on accounts

Unit accounts

contract assets receivable and accounts receivable and

receivable

contract assets receivable and impairment of

contract assets contract assets

Unit 1 463171450.54 0.00 463171450.54 21.64% 23155439.41

Unit 2 81476358.38 0.00 81476358.38 3.81% 37564127.32

Unit 3 69945762.56 0.00 69945762.56 3.27% 3497288.13

Unit 4 55987747.71 0.00 55987747.71 2.62% 39191423.40

96Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Unit 5 44795558.46 0.00 44795558.46 2.09% 12860608.97

Total 715376877.65 0.00 715376877.65 33.43% 116268887.23

5. Other receivables

In RMB

Item Ending balance Beginning balance

Dividends receivable 400000.00

Other receivables 108769365.44 73133704.37

Total 108769365.44 73533704.37

(1) Dividends receivable

1) Classification of dividends receivable

In RMB

Item (or investee) Ending balance Beginning balance

Zhejiang Tingshuo Brand Operation

400000.00

Management Co. Ltd.Total 400000.00

2) Classification of disclosure according to the bad debt provision method

□Applicable□Not applicable

(2) Other accounts receivable

1) Classification of other accounts receivable by nature

In RMB

Book balance at the beginning of the

Nature of receivable Book balance at the end of the period

period

Collections by a third party 72447193.01 40881838.97

Margin deposits/deposits 28800940.34 29981876.29

Proxy holding of project mortgage

14540426.2314537654.00

properties

Withholdings 7092836.68 4047262.25

Cash reserve 8760565.05 4720272.88

Others 4730897.65 3803557.29

Less: provision for bad debts 27603493.52 24838757.31

Total 108769365.44 73133704.37

2) Disclosure by aging of accounts

In RMB

Book balance at the beginning of the

Aging Book balance at the end of the period

period

Within 1 year (including 1 year) 106175024.13 68817484.17

97Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

1-2 years 8440500.02 7075900.68

2-3 years 4294283.74 5744411.97

Over 3 years 17463051.07 16334664.86

3-4 years 3380323.26 4665541.03

4-5 years 4468118.13 4282350.83

Over 5 years 9614609.68 7386773.00

Less: provision for bad debts 27603493.52 24838757.31

Total 108769365.44 73133704.37

3) Classification of disclosure according to the bad debt provision method

□Applicable □Not applicable

In RMB

Ending balance Beginning balance

Book balance Bad debt reserve Book balance Bad debt reserve

Categor Percenta Percenta

y Carrying CarryingPercenta ge of value Percenta ge ofAmount Amount Amount Amount value

ge (%) provisio ge (%) provisio

n n

Provisio

n for bad

debts on 147558 676014 799570 147593 676364 799570

10.82%45.81%15.06%45.83%

an 54.00 4.30 9.70 54.00 4.30 9.70

individu

al basis

Including:

Provisio

n for bad

debts on 121617 208433 100773 832131 180751 651379

89.18%17.14%84.94%21.72%

a 004.96 49.22 655.74 07.68 13.01 94.67

collectiv

e basis

Including:

Aging-

121617208433100773832131180751651379

based 89.18% 17.14% 84.94% 21.72%

004.9649.22655.7407.6813.0194.67

portfolio

136372276034108769979724248387731337

Total 100.00% 20.24% 100.00% 25.35%

858.9693.52365.4461.6857.3104.37

Category by individual bad debt provision:

In RMB

Beginning balance Ending balance

Name Bad debt Percentage Reasons for

Book balance Bad debt reserve Book balance

reserve of provision provision

Expected

Unit 1 9976291.00 4489330.95 9976291.00 4489330.95 45.00%

impairment

Expected

Unit 2 1892194.00 851487.30 1892194.00 851487.30 45.00%

impairment

Expected

Unit 3 1205059.00 542276.55 1205059.00 542276.55 45.00%

impairment

Unit 4 657783.00 296002.35 657783.00 296002.35 45.00% Expected

98Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

impairment

Expected

Unit 5 636327.00 286347.15 636327.00 286347.15 45.00%

impairment

Expected

Unit 6 170000.00 76500.00 170000.00 76500.00 45.00%

impairment

Expected to be

Unit 7 103000.00 103000.00 103000.00 103000.00 100.00% difficult to

recover

Expected to be

Unit 8 45200.00 45200.00 45200.00 45200.00 100.00% difficult to

recover

Expected to be

Unit 9 20000.00 20000.00 20000.00 20000.00 100.00% difficult to

recover

Expected to be

Unit 10 20000.00 20000.00 20000.00 20000.00 100.00% difficult to

recover

Expected to be

Unit 11 10000.00 10000.00 10000.00 10000.00 100.00% difficult to

recover

Expected to be

Unit 12 10000.00 10000.00 10000.00 10000.00 100.00% difficult to

recover

Expected to be

Unit 13 10000.00 10000.00 10000.00 10000.00 100.00% difficult to

recover

Unit 14 3500.00 3500.00

Total 14759354.00 6763644.30 14755854.00 6760144.30

Category for bad debt provision on a collective basis: account age

In RMB

Ending balance

Name

Book balance Bad debt reserve Percentage of provision

Within 1 year 94424766.48 4723074.01 5.00%

1-2 years 5616390.02 561639.00 10.00%

2-3 years 4294283.74 858856.75 20.00%

3-4 years 3380323.26 1690161.63 50.00%

4-5 years 4458118.13 3566494.50 80.00%

Over 5 years 9443123.33 9443123.33 100.00%

Total 121617004.96 20843349.22

Description on basis for determining portfolio：

Provision for bad debts according to the general model of expected credit loss:

In RMB

Phase I Phase II Phase III

Expected credit loss Expected credit loss

Bad debt reserve Expected credit loss over the entire period over the entire period Total

over the next 12

of existence (without of existence (with

months

credit impairment) credit impairment)

Balance as of January

13140847.7611476209.55221700.0024838757.31

12026

Balance on January 1

2026 in the current

period

Provision in the current 2809838.61 2809838.61

99Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

period

Derecognition/write-

offs in the current 45102.40 45102.40

period

Balance as of June 30

15905583.9711476209.55221700.0027603493.52

2026

Basis of classification in different stages and percentage of provision for bad debts

Changes in the book balance with significant change in amount of the loss provision in the current period

□Applicable□Not applicable

4) Bad debt provision and its recovery or reversal in the current period

Bad debt provision in the current period:

In RMB

Amount of change in the current period

Beginning

Category Recovery or Ending balancebalance Provision Write-offs Others

reversal

Bad debt

provision for

24838757.312809838.6145102.4027603493.52

other

receivables

Total 24838757.31 2809838.61 45102.40 27603493.52

5) Other receivables actually written off in the current period

In RMB

Item Amounts written off

The actual write-off of other receivables 45102.40

6) Top five debtors with the largest ending balances of other accounts receivable

In RMB

Proportion in the

total ending

Nature of Ending balance of

Unit Ending balance Aging balance of other

receivable bad debt reserves

accounts

receivable

Collections by a

Unit 1 third 20027026.13 0-2 14.69% 1054286.82

party/deposits

Proxy holding of

Unit 2 project mortgage 9976291.00 Within 1 year 7.32% 4489330.95

properties

Collections by a

Unit 3 third 24010940.21 0-5 years 17.61% 1577985.49

party/deposits

Collections by a

Unit 4 4670989.23 Within 1 year 3.43% 233549.46

third party

Unit 5 Collections by a 6866511.82 0-5 years 5.04% 369590.59

100Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

third

party/deposits

Total 65551758.39 48.09% 7724743.31

6. Advance payments

(1) Advance payments presented by age

In RMB

Ending balance Beginning balance

Aging

Amount Percentage (%) Amount Percentage (%)

Within 1 year 184987638.57 95.58% 171506990.75 92.07%

1-2 years 7189764.87 3.72% 13750625.98 7.38%

2-3 years 1092496.32 0.56% 907477.59 0.49%

Over 3 years 261958.85 0.14% 116614.59 0.06%

Total 193531858.61 186281708.91

(2) Top five payers with the largest ending balances of advance payments

The ending balances of advance payments of the top five payers by the end of this year totaled RMB 65950437.85

accounting for 34.08% of the total.

7. Inventory

Whether the company is subject to disclosure requirements for the real estate industry

No

(1) Classification of inventories

In RMB

Ending balance Beginning balance

Provision for Provision for

obsolete obsolete

inventory or inventory or

Item for for

Book balance Carrying value Book balance Carrying value

impairment impairment of

of the cost of the cost of

contract contract

performance performance

Raw materials 66551585.88 9156978.54 57394607.34 58592833.63 6863404.45 51729429.18

Products in

75430921.2575430921.2582472309.490.0082472309.49

process

Finished goods 407404209.28 21033570.49 386370638.79 462122415.82 17827890.31 444294525.51

Contract

performance 160123712.67 160123712.67 94994339.86 0.00 94994339.86

costs

Goods on

759477425.3845860500.15713616925.23704650720.5046786601.01657864119.49

consignment

101Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Low-value

26014842.7326014842.7328668045.560.0028668045.56

consumables

Total 1495002697.19 76051049.18 1418951648.01 1431500664.86 71477895.77 1360022769.09

(2) Provision for obsolete inventory or for impairment of the cost of contract performance

In RMB

Increased amount in the current Decreased amount in the current

Beginning period period

Item Ending balance

balance Reversals or

Provision Others Others

write-off

Raw materials 6863404.45 2550298.30 0.00 256724.20 0.00 9156978.55

Finished goods 17827890.31 3205680.18 0.00 0.00 0.00 21033570.49

Goods on

consignment 46786601.01 0.00 0.00 926100.87 0.00 45860500.14

Total 71477895.77 5755978.48 0.00 1182825.07 0.00 76051049.18

Reasons for Reversal or

Item Specific Basis for Determining Net Realizable Value Write-off in This Reporting

Period

Shipped Goods Inventory Determined based on industry and market conditions taking into

Goods account the estimated selling price sales expenses liquidation Sales transfer outcosts and related taxes and fees.Determined based on industry and market conditions taking into

Raw materials products in account the estimated selling price of the products to be

progress manufactured and the estimated costs and expenses to be Production issuance

incurred until completion.

8. Non-current assets due within one year

In RMB

Item Ending balance Beginning balance

Fixed term deposits maturing within one

3110000000.00470000000.00

year

Accrued interest on fixed term deposits

190412030.5029143689.50

maturing within one year

Total 3300412030.50 499143689.50

(1) Debt investments due within one year

□Applicable□Not applicable

(2) Other debt investments due within one year

□Applicable□Not applicable

9. Other current assets

In RMB

Item Ending balance Beginning balance

Prepaid taxes 731116.95 3068681.12

Fixed-term deposit within one year 81830800.00 84345600.00

102Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Accrued interest on fixed term deposits

902845.411053790.87

within one year

Total 83464762.36 88468071.99

10. Other equity instrument investments

In RMB

Reason for

being

Gains Loss Gains Loss designated

recognized recognized recognized recognized to be

in other in other in other in other Recognized measured

Name of Beginning comprehen comprehen comprehen comprehen dividends Ending at fair

item balance sive sive sive sive income in balance value

income for income for income at income at the period through

the current the current the end of the end of other

period period the period the period comprehen

sive

income

Suzhou

Industrial

Park

Ruican

10000000

Investment

0.00

Enterprise

(Limited

Partnership

)

Shanghai

MXCHIP

Informatio 2116023.2 17832510. 2116023.2

n 2 78 2

Technolog

y Co. Ltd.

2116023.2117832512116023.2

Total

20.782

11. Long-term equity investments

In RMB

Increase/decrease in the current period

Ope

ning Invest

Begin bala ment Adjust Cash Ending

ning nce profit ment

Ending

divide balanc

of balancbalanc of Additi Negati and Other nds or Impair e ofe

Investee e imp otheronal ve loss change profits ment impair

（carr airm recogn compr Others（carrinvest invest s in declare provisi mentying

ying ent ehensiment ment ized equity d and on provisi

using ve value)value) prov distrib on

isio the incom uted

n equity es

metho

103Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

d

I. Joint venture

II. Associated enterprises

Zhejiang

Tingshuo

Brand 1748

468482216

Operation 308.5

4.80793.35

Managem 5

ent Co.Ltd.Shaoxing

Shuaige

Kitchen

2646-

and 1781

811.486542

Bathroom 385.89

05.51

Technolo

gy Co.Ltd.

4395-

3998

Subtotal 119.9 39694

179.24

50.71

4395-

3998

Total 119.9 39694

179.24

50.71

Recoverable amount is determined as fair value less costs of disposal

□Applicable□Not applicable

The recoverable amount is determined as the present value of the estimated future cash flows

□Applicable□Not applicable

12. Other non-current financial assets

In RMB

Item Ending balance Beginning balance

Financial products 800451400.00

Total 800451400.00

13. Investment real estates

(1) Investment real estate under the cost measurement mode

□Applicable □Not applicable

In RMB

Item Buildings Land use right Construction in process Total

I. Original carrying

value

1. Beginning

102868253.381062744.00103930997.38

balance

2. Increased

amount in the current

period

104Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(1)

Outsourcing

(2) Transfer

from inventories/fixed

assets/construction in

progress

(3) Increased

amount in business

combination

3. Decreased

amount in the current

period

(1) Disposal

(2) Other

transfer-out

4. Ending balance 102868253.38 1062744.00 103930997.38

II. Accumulated

depreciation and

amortization

1. Beginning

20982390.13394986.5121377376.64

balance

2. Increased

amount in the current 2352055.31 10627.45 2362682.76

period

(1) Accrual

2352055.3110627.452362682.76

or amortization

3. Decreased

amount in the current

period

(1) Disposal

(2) Other

transfer-out

4. Ending balance 23334445.44 405613.96 23740059.40

III. Impairment

provision

1. Beginning

1539949.831539949.83

balance

2. Increased

amount in the current

period

(1) Provision

3. Decreased

amount in the current

period

(1) Disposal

105Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(2) Other

transfer-out

4. Ending balance 1539949.83 1539949.83

IV. Carrying value

1. Ending carrying

77993858.11657130.0478650988.15

value

2. Beginning

80345913.42667757.4981013670.91

carrying value

Recoverable amount is determined as fair value less costs of disposal

□Applicable□Not applicable

The recoverable amount is determined as the present value of the estimated future cash flows

□Applicable□Not applicable

14. Fixed assets

In RMB

Item Ending balance Beginning balance

Fixed assets 2131088542.33 2173620976.82

Disposal of fixed assets 4062.15 54209.39

Total 2131092604.48 2173675186.21

(1) Fixed assets

In RMB

Buildings and Machinery and Transportation

Item Other equipment Total

structures equipment equipment

I. Original

carrying value:

1. Beginning

2355093322.91901175317.2123304916.01149083933.773428657489.90

balance

2. Increased

amount in the 36697.24 26522201.69 230292.72 17241045.35 44030237.00

current period

(1)

36697.245154697.94230292.722381826.027803513.92

Purchase

(2)

Transfer from

21367503.7514859219.3336226723.08

construction in

progress

(3)

Increased amount

in business

combination

3. Decreased

amount in the 1178808.87 13292.29 1171149.53 2363250.69

current period

106Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(1)

Disposal or 1178808.87 1171149.53 2349958.40

retirement

(2) Other

13292.2913292.29

decreases

4. Ending

2355130020.15926518710.0323521916.44165153829.593470324476.21

balance

II. Accumulated

depreciation

1. Beginning

549987491.60583667521.4517732735.62103648764.411255036513.08

balance

2. Increased

amount in the 51811535.34 25177591.30 800945.29 8436086.51 86226158.44

current period

(1)

51811535.3425177591.30800945.298436086.5186226158.44

Provision

3. Decreased

amount in the 13451.33 1049413.50 1917.21 961955.60 2026737.64

current period

(1)

Disposal or 13451.33 1049413.50 961955.60 2024820.43

retirement

(2) Other

1917.211917.21

decreases

4. Ending

601785575.61607795699.2518531763.70111122895.321339235933.88

balance

III. Impairment

provision

1. Beginning

balance

2. Increased

amount in the

current period

(1)

Provision

3. Decreased

amount in the

current period

(1)

Disposal or

retirement

4. Ending

balance

IV. Carrying value

1. Ending

1753344444.54318723010.784990152.7454030934.272131088542.33

carrying value

2. Beginning

1805105831.31317507795.765572180.3945435169.362173620976.82

carrying value

107Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(2) Fixed asset without certificate of title

In RMB

Reasons for failure to obtain the

Item Carrying value

certificate of title

Robam Building 673716040.70 In process

(3) Disposal of fixed assets

In RMB

Item Ending balance Beginning balance

Machinery and equipment 4062.15 54209.39

Total 4062.15 54209.39

15. Construction in progress

In RMB

Item Ending balance Beginning balance

Construction in process 28427693.17 46511377.40

Total 28427693.17 46511377.40

(1) Construction in progress

In RMB

Ending balance Beginning balance

Item Impairment Impairment

Book balance Carrying value Book balance Carrying value

provision provision

Robam

Building 19915668.84 19915668.84 41762075.08 41762075.08

project

Project of the

First

2317699.222317699.22619469.04619469.04

Production

Department

Project of the

Third

103716.82103716.82478331.62478331.62

Production

Department

Project of the

Second

856637.17856637.17

Production

Department

Project of the

Fourth

164601.77164601.77754031.67754031.67

Production

Department

Customized

management 3545045.93 3545045.93 1444624.32 1444624.32

software

Other smaller

2380960.592380960.59596208.50596208.50

projects

108Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Total 28427693.17 28427693.17 46511377.40 46511377.40

(2) Current changes in major projects under construction

In RMB

Amou Propor

Includi

nt tion of Accum Interes

ng:

Increas transfe Other accum ulated t

capital

Beginn ed rred decrea ulative amoun capital

Ending Project ized Fundin

Name ing amoun into ses in constr t of ization

Budget balanc progre interes g

of item balanc t in the fixed the uction capital rate in

e ss (%) ts in source

e current assets current invest ized the

the

period in the period ment interes current

current

current in the t period

period

period budget

Robam

82375417622332919915

Buildi 1483 87.65 97.24

0800. 075.0 804.6 668.8 Others

ng 398.44 % %

00884

project

82375417622332919915

1483

Total 0800. 075.0 804.6 668.8

398.44

00884

(3) Impairment testing of construction in progress

□Applicable□Not applicable

16. Right-of-use assets

(1) Right-of-use assets

In RMB

Item Buildings and structures Total

I. Original carrying value

1. Beginning balance 16779791.90 16779791.90

2. Increased amount in the current

period

3. Decreased amount in the current

period

4. Ending balance 16779791.90 16779791.90

II. Accumulated depreciation

1. Beginning balance 8676799.41 8676799.41

2. Increased amount in the current

1088826.961088826.96

period

(1) Provision 1088826.96 1088826.96

3. Decreased amount in the current

period

109Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(1) Disposal

4. Ending balance 9765626.37 9765626.37

III. Impairment provision

1. Beginning balance

2. Increased amount in the current

period

(1) Provision

3. Decreased amount in the current

period

(1) Disposal

4. Ending balance

IV. Carrying value

1. Ending carrying value 7014165.53 7014165.53

2. Beginning carrying value 8102992.49 8102992.49

17. Intangible assets

(1) Intangible assets

In RMB

Non-patented Trademark

Item Land use right 3. Patent right Software Total

technology right

I. Original

carrying value

1.

Beginning 224593935.95 7300000.00 67003923.85 24624622.64 323522482.44

balance

2.

Increased

amount in the

current period

(1)

Purchase

(2)

Internal

research and

development

(3)

Increased

amount in

business

combination

3.

Decreased

amount in the

110Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

current period

(1)

Disposal

4. Ending

224593935.957300000.0067003923.8524624622.64323522482.44

balance

II.Accumulated

amortization

1.

Beginning 47849096.70 7300000.00 53514099.33 18452889.00 127116085.03

balance

2.

Increased

2285334.522696960.361231231.126213526.00

amount in the

current period

(1)

2285334.522696960.361231231.126213526.00

Provision

3.

Decreased

amount in the

current period

(1)

Disposal

4. Ending

50134431.227300000.0056211059.6919684120.12133329611.03

balance

III. Impairment

provision

1.

Beginning

balance

2.

Increased

amount in the

current period

(1)

Provision

3.

Decreased

amount in the

current period

(1)

Disposal

4. Ending

balance

IV. Carrying

value

111Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

1. Ending

174459504.7310792864.164940502.52190192871.41

carrying value

2.

Beginning 176744839.25 13489824.52 6171733.64 196406397.41

carrying value

18. Goodwill

(1) Original carrying value of goodwill

In RMB

Name of Increase in the current period Decrease in current Period

investee or item Beginning Generated by Ending balance

that generates balance business Disposal

goodwill combination

Kinde

80589565.8480589565.84

Intelligent

Total 80589565.84 80589565.84

(2) Goodwill impairment provision

In RMB

Name of Increase in the current period Decrease in current Period

investee or item Beginning

Ending balance

that generates balance Provision Disposal

goodwill

Kinde

80589565.8480589565.84

Intelligent

Total 80589565.84 80589565.84

(3) Information regarding the asset group or portfolio of asset groups to which the goodwill relates

Composition of the Asset

Operating Segment and Basis Is This Consistent with

Name Group or Portfolio and the

for Classification Previous Years

Basis Therefor

The asset groups to which The asset groups to which

goodwill is allocated at the goodwill is allocated at the

end of this period are the end of this period are the

same as those recognized same as those recognized

Kinde Intelligent Yes

upon goodwill impairment upon goodwill impairment

tests conducted on the date of tests conducted on the date of

acquisition and in previous acquisition and in previous

year. year.Other description

The Company calculates the present value model of Kinde Intelligent’s future cash flows based on the five-year financial

budget for 2025–2029 approved by the management using the going-concern assumption and performs goodwill impairment tests

by using the higher of the asset’s fair value less costs of disposal and the present value of the asset’s projected future cash flows.Based on testing the Kinde Intelligent asset group continues to show signs of impairment and the Company has fully provisioned

for the impairment of the RMB 80589600 in goodwill arising from its acquisition of Kinde Intelligent.

112Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(4) Specific methods for determining the recoverable amount

Recoverable amount is determined as fair value less costs of disposal

□Applicable□Not applicable

The recoverable amount is determined as the present value of the estimated future cash flows

□Applicable□Not applicable

(5) Fulfillment of performance commitments and corresponding goodwill impairments

Performance commitments existed at the time goodwill was recognized and the current reporting period or the preceding reporting

period fell within the performance commitment period.□Applicable□Not applicable

19. Long-term deferred expenses

In RMB

Increased amount Amount of

Item Beginning balance in the current amortization in the Other decreases Ending balance

period current period

Service fee 2473903.50 609638.28 761123.30 2322418.48

Advertisement

14150943.401933188.9912217754.41

expenses

Tooling cost 441301.43 30371.69 410929.74

Others 337512.90 789675.91 116701.13 1010487.68

Total 3252717.83 15550257.59 2841385.11 15961590.31

20. Deferred income tax asset/deferred income tax liability

(1) Deferred income tax assets before offset

In RMB

Ending balance Beginning balance

Item Deductible temporary Deferred income tax Deductible temporary Deferred income tax

differences assets: differences assets:

Asset impairment

218045448.6732706817.30186403231.2927966489.76

provision

Unrealized profits of

26303797.253672778.508966724.681345008.70

internal transactions

Loss from credit

538876061.1193637031.59590389219.2697807785.52

impairment

Income that should be

recognized according

to tax laws but have 174506826.53 26176023.98 227843758.87 34176563.83

not been confirmed by

the accountant yet

Those recognized

based on the

1012430107.47165134516.12884447451.20132667117.68

provisional estimated

expenses

Deferred income 62147694.67 9322154.20 69101835.67 10365275.35

113Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Changes in the fair

value of other equity 117832510.80 17674876.62 117832510.80 17674876.62

instrument investments

Equity incentive 29352241.80 4597044.64 20209550.94 3120512.36

Lease liabilities 1785034.32 446258.58 1841496.02 460374.01

Total 2181279722.62 353367501.53 2107035778.73 325584003.83

(2) Deferred income tax liabilities before offset

In RMB

Ending balance Beginning balance

Item Taxable temporary Deferred income tax Taxable temporary Deferred income tax

difference liabilities difference liabilities

Appreciation arising

from asset valuation in

a business combination 9222823.13 1383423.47 10661295.26 1599194.29

not under common

control

Temporary taxable

difference incurred

80336310.1412050446.5286784538.7913017680.83

from pre-tax deduction

of fixed assets

Interest accrued on

deposits not yet 235607804.80 35341170.72 172075927.98 25811389.20

matured

Right-of-use assets 49058.72 12264.68 109594.14 5479.71

Total 325215996.79 48787305.39 269631356.17 40433744.03

(3) Deferred income tax assets or liabilities presented in net amount after offset

In RMB

Amount of deferred Initial amount of

Ending balance of Beginning balance of

income tax assets deferred income tax

deferred income tax deferred income tax

Item offset against deferred assets offset against

assets or liabilities after assets or liabilities after

income tax liabilities at deferred income tax

offset offset

the end of the period liabilities

Deferred income tax

353367501.53325584003.83

assets:

Deferred income tax

48787305.3940433744.03

liabilities

(4) Presentation of unrecognized deferred income tax assets

In RMB

Item Ending balance Beginning balance

Deductible temporary differences 34534008.52 35378023.90

Deductible tax losses 107602591.65 90925810.39

Total 142136600.17 126303834.29

114Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(5) The deductible losses of unrecognized deferred income tax assets will be due in the following years

In RMB

Year Ending amount Beginning amount Remarks

2026

20276776597.45

202830994598.6231603994.30

202918575484.1118575484.11

203033969734.5333969734.53

203124062774.39

Total 107602591.65 90925810.39

21 Other non-current assets

In RMB

Ending balance Beginning balance

Item Impairment Impairment

Book balance Carrying value Book balance Carrying value

provision provision

Fixed term

2050652580.2050652580.4510000000.4510000000.

deposits over

00000000

one year

Interest on

fixed term

49594886.2349594886.23147180404.97147180404.97

deposits over

one year

Prepayments

for equipment 14602633.46 14602633.46 13628039.50 13628039.50

purchase

Prepayment for

31716499.4414272424.7517444074.6944212716.4519895722.4024316994.05

house purchase

Commercial

properties held 285880146.41 128646065.88 157234080.53 213656936.74 96145621.53 117511315.21

for sale

2432446745.2289528254.4928678097.4812636753.

Total 142918490.63 116041343.93

54916673

22. Assets with limited ownership and right to use

In RMB

Ending of the period Beginning of the period

Item Book Carrying Type of Restriction Book Carrying Type of Restriction

balance value restriction s balance value restriction s

Cash and

59235811. 59235811. L/G margin 62151811. 62151811. L/G margin

cash

47 47 deposit 20 20 deposit

equivalents

Fixed 15299315 12138281 Mortgage 15941236 12870013 Mortgage

assets 1.92 9.33 loan 8.74 5.64 loan

Intangible 34367725. 29847674. Mortgage 58626799. 51620046. Mortgage

assets 00 90 loan 92 12 loan

Cash and Bank Bank

4860000.14860000.14848360.14848360.1

cash acceptance acceptance

6666

equivalents bill margin bill margin

115Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

deposit deposit

Cash and

ETC ETC

cash 14000.00 14000.00 14000.00 14000.00

deposit deposit

equivalents

Cash and

Litigation

cash 40252.34 40252.34

freeze

equivalents

25147068215340302850935924737460

Total

8.555.862.365.46

23. Short-term borrowings

(1) Short-term borrowing classification

In RMB

Item Ending balance Beginning balance

Mortgage loan 105100000.00 97600000.00

Others 120163.89 138579.05

Total 105220163.89 97738579.05

Description on the classification of short-term borrowings:

Kinde Intelligent a subsidiary of the Company entered into a secured loan agreement with the Shaoxing Shengzhou Branch

of Bank of Communications Co. Ltd. securing a credit line of RMB 80000000 from Bank of Communications. During the

current year RMB 68500000 of the credit line was utilized with an interest rate ranging from 2.97% to 3.02%. The collateral for

this loan is its Factory No. 1 building and the land located at 888 Ruanpeng Road Shengzhou City with a combined net value of

RMB 110875900. Kinde Intelligent a subsidiary of the Company entered into a secured loan agreement with the Shaoxing

Shengzhou Branch of China Minsheng Bank Co. Ltd. securing a credit line of RMB 40000000 from Minsheng Bank. During the

current year the Company utilized RMB 36600000 of this credit line with an interest rate ranging from 2.80% to 3.00%. The

collateral for this loan is its Factory No. 3 building and the land located at 888 Ruanpeng Road Shengzhou City with a combined

net value of RMB 40354600.

24. Notes payable

In RMB

Type Ending balance Beginning balance

Banker’s acceptance 910139795.24 1102064932.55

Total 910139795.24 1102064932.55

25. Accounts payable

(1) Presentation of accounts payable

In RMB

Item Ending balance Beginning balance

Payment for materials 933283257.56 1138496064.99

Payment for expenses 1149133874.14 1314267726.79

Payment for construction 98836886.63 198859801.32

116Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Payment for equipment 18821743.72 3512736.30

Total 2200075762.05 2655136329.40

(2) Important accounts payable with an age of more than one year or in arrears

In RMB

Reasons for outstanding or carried-

Item Ending balance

forward balances

Outstanding payables for materials

service fees and construction costs not 80582496.59 Not yet due for settlement

yet settled

Total 80582496.59

26.Other payables

In RMB

Item Ending balance Beginning balance

Security deposits payable 275859819.48 274086791.21

Collections by a third party 3245728.39 7020719.71

Guarantee deposits payable 2716021.00 5953773.95

Others 7759453.50 7372840.23

Total 289581022.37 294434125.10

(1) Other payables

1) Other payables presented by nature

In RMB

Item Ending balance Beginning balance

Other payables 289581022.37 294434125.10

Total 289581022.37 294434125.10

2) Important accounts payable with an age of more than one year

In RMB

Reasons for outstanding or carried-

Item Ending balance

forward balances

Sales deposit 62740000.00 In a long-term partnership

Total 62740000.00

27. Contract liabilities

In RMB

Item Ending balance Beginning balance

Advances on sales 905147385.40 932559161.31

Total 905147385.40 932559161.31

Significant contract liabilities with an aging over one year

In RMB

117Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Reasons for outstanding or carried-

Item Ending balance

forward balances

Payments for goods not yet accepted 28120371.75 Not yet accepted

Total 28120371.75

28. Employee benefits payable

(1) Presentation of employee compensation payable

In RMB

Increase in the current Decrease in current

Item Beginning balance Ending balance

period Period

I. Short-term

172896873.26409488234.98549691837.7032693270.54

compensation

II. Post-employment

benefits - defined 6738759.33 43945539.71 48903259.61 1781039.43

contribution plan

III. Termination

217081.301194140.851245423.53165798.62

benefits

Total 179852713.89 454627915.54 599840520.84 34640108.59

(2) Presentation of short-term compensation

In RMB

Increase in the current Decrease in current

Item Beginning balance Ending balance

period Period

1. Salaries bonuses

subsidies and 167864605.78 338812372.94 479205762.20 27471216.52

allowances

2. Employee welfare 8901349.72 7977148.11 924201.61

3. Social insurance 4100989.52 26600766.46 29652822.01 1048933.97

Including:

3855893.0724966497.4727812882.991009507.55

medical insurance

Work-

245096.451634268.991839939.0239426.42

related injury insurance

4. Housing provident

264916.0024244850.1224253338.12256428.00

funds

5. Labor union and

staff education 666361.96 10928895.74 8602767.26 2992490.44

expenses

Total 172896873.26 409488234.98 549691837.70 32693270.54

(3) Presentation of the defined contribution plans

In RMB

Increase in the current Decrease in current

Item Beginning balance Ending balance

period Period

1. Basic pensions 6534561.45 42549665.54 47367685.80 1716541.19

118Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

2. Unemployment

204197.881395874.171535573.8164498.24

insurance

Total 6738759.33 43945539.71 48903259.61 1781039.43

29. Taxes payable

In RMB

Item Ending balance Beginning balance

VAT 81940613.20 67418099.86

Business income tax 84187944.63 16554366.22

Individual income tax 2314087.24 6098883.58

City maintenance and construction tax 4565808.75 4749489.91

Property tax 18256.60 15322296.22

Land use tax 5674367.50

Stamp tax 1709635.45 1815714.01

Education surcharge 1956015.94 2035495.68

Local education surcharge 1304517.31 1356997.22

Other taxes 2235.47 11026.56

Total 177999114.59 121036736.76

30. Non-current liabilities due within one year

In RMB

Item Ending balance Beginning balance

Lease liabilities due within one year 1715819.85 1967891.30

Total 1715819.85 1967891.30

31. Other current liabilities

In RMB

Item Ending balance Beginning balance

Output VAT to be carried forward 96883559.92 102759019.62

Total 96883559.92 102759019.62

32. Lease liabilities

In RMB

Item Ending balance Beginning balance

Lease payment amount 9534054.59 10966863.79

Unrecognized financial expenses -890537.25 -1131969.42

Non-current liabilities due within one

-1715819.85-1967891.30

year after reclassification

Total 6927697.49 7867003.07

33. Deferred income

In RMB

Item Beginning balance Increase in the Decrease in Ending balance Cause of formation

119Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

current period current Period

Government

100318829.177916038.9892402790.19

subsidies

Total 100318829.17 7916038.98 92402790.19

34. Capital stock

In RMB

Increase and decrease of this change (+ -)

Beginning Shares Ending

balance Issue of new convertedBonus shares Others Subtotal balance

shares from capital

reserve

Total number 944938916. 944983916.

45000.0045000.00

of shares 00 00

35. Capital reserve

In RMB

Increase in the current Decrease in current

Item Beginning balance Ending balance

period Period

Capital (stock)

225554311.40678600.00226232911.40

premium

Other capital reserves 20301582.76 9142690.86 29444273.62

Total 245855894.16 9821290.86 255677185.02

36. Other comprehensive incomes

In RMB

Amount of the current period

Less:

Less:

amount

amount

included in

included in

other

Amount other

comprehen Net income Net income

incurred comprehen

Beginning sive after tax after taxbefore sive Less: EndingItem

balance incomes attributable attributableincome tax incomes income tax balance

previously to the to minority

in the previously expenses

and then parent shareholder

current and then

transferred company s

period transferred

into the

into current

current

retained

profit and

earnings

loss

I. Other

comprehen

sive - -

incomes 10015763 10015763

that cannot 4.16 4.16

be

reclassified

120Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

into profit

and loss

Changes in

the fair

value of

--

other

1001576310015763

equity

4.164.16

instrument

investment

s

(II) Other

comprehen

sive

income - - -

which will 298301.91 2458093.2 2412906.1 -45187.06 2114604.2

be 3 7 6

reclassified

into gains

and losses

Conve

rted

---

difference

298301.912458093.22412906.1-45187.062114604.2

in foreign

376

currency

statements

Total of

other - - - -

comprehen 99859332. 2458093.2 2412906.1 -45187.06 10227223

sive 25 3 7 8.42

incomes

37. Surplus reserve

In RMB

Increase in the current Decrease in current

Item Beginning balance Ending balance

period Period

Statutory surplus

474516412.50474516412.50

reserve

Total 474516412.50 474516412.50

38. Undistributed profit

In RMB

Item Current period Previous period

Undistributed profit at the end of

9932003800.679621062910.45

previous period before adjustment

Undistributed profit at the beginning of

9932003800.679621062910.45

the period after adjustment

Add: Net profits attributable to owners of

578235101.901255879806.22

the parent company in the current period

Dividends payable for ordinary

472469458.00944938916.00

shares

121Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Undistributed profit at the end of the

10037769444.579932003800.67

period

39. Operating income and operating cost

In RMB

Amount of the current period Amount of the previous period

Item

Income Cost Income Cost

Main business 3856285331.43 1907371654.26 4498866991.01 2225624008.17

Other businesses 116101867.95 57467917.48 108657712.25 58138514.25

Total 3972387199.38 1964839571.74 4607524703.26 2283762522.42

Breakdown of operating income and operating costs:

In RMB

Contract Amount of the current period Amount of the previous period

categories Operating income Operating costs Operating income Operating costs

Industry 3972387199.38 1964839571.74 4607524703.26 2283762522.42

Kitchen and

bathroom 3856285331.43 1907371654.26 4498866991.01 2225624008.17

appliances

Other

businesses 116101867.95 57467917.48 108657712.25 58138514.25

Product

category 3972387199.38 1964839571.74 4607524703.26 2283762522.42

Range hood 1971708236.17 929446723.65 2205199571.60 1027472744.29

Gas stove 988230835.36 422296463.03 1156313826.74 519651653.74

Other

products 1012448127.85 613096385.06

1246011304.92736638124.39

Region 3972387199.38 1964839571.74 4607524703.26 2283762522.42

East China 1647049698.62 725748412.38 2148385617.34 949234266.57

South China 480801254.09 270675280.48 551644073.12 307422092.92

North China 552537467.68 280393643.53 562967521.52 296556086.26

Central China 494580143.91 278942622.27 450059047.37 244508844.18

Southwest

China 231595050.56 109561880.25 330009393.98 183878473.53

Other regions 565823584.52 299517732.83 564459049.93 302162758.96

Channels 3972387199.38 1964839571.74 4607524703.26 2283762522.42

Direct sales 1928263325.28 860560685.88 2009164217.47 912053111.84

Sales by

proxy 1589897280.01 834659375.29 1909275641.63 987826778.38

Developer

channel 419472588.12 254732512.37

651359170.21372826017.14

Other

channels 34754005.97 14886998.20

37725673.9511056615.06

Total 3972387199.38 1964839571.74 4607524703.26 2283762522.42

As of the end of the reporting period revenue corresponding to performance obligations under contracts that have been

signed but have not yet been fulfilled or have not yet been fully fulfilled amounted to RMB 905147385.40 of which RMB

905147385.40 is expected to be recognized as income in fiscal year 2026.

122Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

40. Taxes and surcharges

In RMB

Item Amount of the current period Amount of the previous period

City maintenance and construction tax 10135458.19 13700731.55

Education surcharge 7238463.91 9784737.37

Property tax 1489264.73 1191102.58

Land use tax 38466.24 353985.29

Stamp tax 2773853.67 2756188.41

Vehicle and vessel tax 6099.84 5619.84

Environmental protection tax 8506.48

Others 292881.44 72900.91

Total 21982994.50 27865265.95

41. Administrative expenses

In RMB

Item Amount of the current period Amount of the previous period

Employees compensation 109842687.29 96582472.53

Depreciation and amortization 43097666.52 36908190.28

Consulting service fees 25516947.47 21179158.72

Material consumption 8404978.53 9883126.78

Office expenses 12988567.53 9138338.13

Rental and property fees 4101246.62 5239804.89

Business hospitality cost 6444280.73 4286357.11

Maintenance expenses 4427787.95 1913452.45

Communication expense 2376332.45 2797982.43

Costs of equity incentive 9142690.86 10159201.78

Travel expenses 1605535.55 1306584.06

Travel expenses 1528111.98 1160024.46

Others 5884652.59 6051054.19

Total 235361486.07 206605747.81

42. Sales expense

In RMB

Item Amount of the current period Amount of the previous period

Marketing service expenses 506098562.04 594828538.99

Advertisement expenses 202871055.80 313257521.30

Employees compensation 182297754.88 174257272.44

Booth decoration expenses 95212307.83 46888303.90

Promotional activity expenses 23544702.36 38342764.13

Material consumption 34780101.04 27817794.82

Intermediary service fees 6002827.19 10799797.12

Travel expenses 14136926.69 12649155.59

Business hospitality cost 6280054.49 6762389.99

Office expenses 4230500.04 7764500.01

Rental fees 5694116.54 7005201.68

Others 8755625.84 9003773.93

Total 1089904534.74 1249377013.90

123Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

43. R&D expenses

In RMB

Item Amount of the current period Amount of the previous period

Employees compensation 87944985.99 85394386.08

Direct input 55002045.58 57971604.10

Other expenses 5310718.92 1837129.72

Depreciation and amortization 7738446.15 7323019.35

Design fees 1595245.89 6413572.63

Total 157591442.53 158939711.88

44. Financial expenses

In RMB

Item Amount of the current period Amount of the previous period

Interest expenses 1833305.15 1817820.74

Less: Interest income 69902801.73 73328708.38

Add: foreign exchange gain/loss 5476211.70 187003.57

Add: other expenses 943939.47 1647753.34

Total -61649345.41 -69676130.73

45. Other incomes

In RMB

Sources generating other incomes Amount of the current period Amount of the previous period

VAT and additional tax deduction 11515074.15 14011359.51

Amortization of deferred income 7916038.98 11121043.72

Embedded software tax refund 47937631.76 12792704.77

Financial support fund to boost the

0.0010734420.00

corporate development

Post allowance and social insurance

892163.52823797.77

allowance

Special funds for industrial development 7983850.00 4980950.00

R&D subsidies 0.00 640975.00

Handling fee refund 1012715.90 1186583.09

Training subsidies 2400.00 0.00

Patent awards 2107300.00 421900.94

Other subsidies 2025022.71 379821.10

Total 81392197.02 57093555.90

46. Investment income

In RMB

Item Amount of the current period Amount of the previous period

Income from long-term equity

investments accounted for using the -396940.72 -6437701.16

equity method

Investment income from disposal of

47748216.0823762231.51

financial assets held for trading

Total 47351275.36 17324530.35

124Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

47. Loss from credit impairment

In RMB

Item Amount of the current period Amount of the previous period

Bad debt losses on notes receivable 13816.82 216982.79

Bad debt losses from accounts receivable 23519688.59 16979494.27

Bad debt losses of other receivables 4412339.11 -2050519.16

Total 27945844.52 15145957.90

48. Loss from asset impairment

In RMB

Item Amount of the current period Amount of the previous period

I. Loss from obsolete inventory and from

impairment of the cost of contract -4829877.60 17867109.74

performance

XII. Other -36290781.60 -14083140.23

Total -41120659.20 3783969.51

49. Asset disposal income

In RMB

Sources of asset disposal income Amount of the current period Amount of the previous period

Non-current asset disposal income -591998.67 -3797996.87

Including: Gains on disposal of non-

-391036.69-3701893.51

current assets classified as held for sale

Gains on disposal of non-current assets

-200961.98-96103.36

not classified as held for sale

Including: income from disposal of fixed

-200961.98-96103.36

assets

Total -591998.67 -3797996.87

50. Non-operating revenue

In RMB

Amount included in the

Amount of the previous

Item Amount of the current period current non-recurring profit

period

and loss

Gains on exchange of non-

8.858.85

monetary assets

Gains from non-current asset

damage or retirement

Liquidated damages and fines 80.00

Others 3414467.49 1015863.00 3414467.49

Total 3414476.34 1015943.00 3414476.34

Other description:

125Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

51. Non-operating expenditures

In RMB

Amount included in the

Amount of the previous

Item Amount of the current period current non-recurring profit

period

and loss

Donations to external entities 1023500.00 2120000.00 1023500.00

Losses from non-current asset

3441.6712761.473441.67

damage or retirement

Abnormal loss 244773.20 1518446.34 244773.20

Amercement outlay 389274.80 82179.97 389274.80

Liquidated damages and

2135.163000.002135.16

compensation

Others 585202.79 131354.25 585202.79

Total 2248327.62 3867742.03 2248327.62

52. Income tax expenses

(1) Presentation of income tax expenses

In RMB

Item Amount of the current period Amount of the previous period

Current income tax expenses 117747173.58 171572394.25

Deferred income tax expenses -12863256.84 -37195501.86

Total 104883916.74 134376892.39

(2) Adjustment of accounting profit and income tax expense

In RMB

Item Amount of the current period

Total profit 680499322.96

Income tax expense calculated based on statutory/applicable

102074898.44

tax rate

Effects of the subsidiaries’ application of different tax rates 3396636.18

Effects of the adjustment of income tax in previous period -245245.28

Effects of the non-deductible costs expenses and losses 1220752.99

Effects of using deductible losses of unrecognized deferred

-415629.46

income taxes in the previous period

Effects of the deductible temporary differences or deductible

losses of unrecognized deferred income tax assets in the current 1180273.67

period

Unrealized profits and losses of internal transactions -2327769.80

Income tax expense 104883916.74

53. Other comprehensive incomes

For further details see Note VII. Notes to Items in the Consolidated Financial Statements—36. Other comprehensive incomes.

126Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

54. Cash flow statement items

(1) Cash related to operating activities

Other cash received relating to operating activities

In RMB

Item Amount of the current period Amount of the previous period

Government subsidies 11832740.24 18133729.14

Deposits and margin deposits 6414939.32 9022818.14

Cash reserve 0.00 952540.03

Revenue collected and payment made on

1006068.575597808.50

behalf of other agencies

Interest revenue on deposits 3663549.10 8692154.10

Other payments 4659439.03 3870685.36

Total 27576736.26 46269735.27

Other cash paid relating to operating activities

In RMB

Item Amount of the current period Amount of the previous period

Expenses during the period 1322784693.86 1325427136.03

Revenue collected and payment made on

49601.829025590.12

behalf of other agencies

Letter of credit and acceptance bill

2094000.003785367.83

margin

Deposits and margin deposits 10002959.54 10452605.41

Cash reserve 1737959.48 2538268.61

Others 830253.32 1193290.15

Total 1337499468.02 1352422258.15

(2) Cash related to investment activities

Other cash received in relation to investment activities

In RMB

Item Amount of the current period Amount of the previous period

Fixed term deposit and interest 105780968.46 1454835086.78

Total 105780968.46 1454835086.78

Other cash paid relating to investment activities

In RMB

Item Amount of the current period Amount of the previous period

Fixed term deposit 283073600.00 950000000.00

Total 283073600.00 950000000.00

(3) Cash related to financing activities

Other cash paid in relation to financing activities

In RMB

Item Amount of the current period Amount of the previous period

Rental 1109049.00 1056237.08

Total 1109049.00 1056237.08

127Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Changes in liabilities arising from financing activities

□Applicable□Not applicable

55. Supplementary information of Cash Flow Statement

(1) Supplementary information of Cash Flow Statement

In RMB

Supplementary information Current amount Amount in the previous period

1.Reconciliation of net profit to cash

flow from operating activities:

Net profit 575615406.22 702971897.40

Add: Asset impairment provision 41120659.20 -3783969.51

Depreciation of fixed assets

depreciation of oil and gas assets and

88588841.2284369617.37

depreciation of productive biological

assets

Depreciation of right-of-use

1088826.961083434.51

assets

Amortization of intangible assets 6213526.00 6715739.02

Amortization of long-term

2841385.111542033.55

deferred expenses

Losses arising from disposal of

fixed assets intangible assets and other

591998.67-3797996.87

long-term assets (gains expressed with "-

")

Losses on disposal of fixed assets

3441.6712761.47

(gains indicated with “-”)

Losses from fair value change

(gains expressed with “-”)

Financial expenses (profit shall

-56222359.9566634765.63

be indicated with“-”)

Investment losses (gains

-47351275.36-17324530.35

expressed with “-”)

Decrease in deferred income taxassets (increase shall be indicated with “- -27783497.70 -41242805.69”)

Increase in deferred income tax

liabilities (decrease shall be indicated 8353561.36 1429390.97

with “-”)

Decrease in inventories (increase

-63502032.34-42194983.14

shall be indicated with “-”)

Decrease in operating receivables

-61262130.6991739738.61

(increase shall be indicated with “-”)

Increase in operating payables

-802641431.76-321808721.01

(decrease expressed with “-”)

Others -27945844.52 -15139611.11

Net cash flow from operating

-362290925.91511206760.85

activities

128Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

2.Non-cash flow-involved major

investing and financing activities:

Conversion of debt into capital

Convertible bonds due within one year

Fixed assets acquired under financing

leases

3.Net increase/decrease in cash and cash

equivalents:

Ending balance of cash 1505821534.61 1219123585.55

Less: cash beginning balance 1169244689.17 1518303556.89

Add: ending balance of cash

equivalents

Less: cash equivalents at the beginning

of the period

Net increase in cash and cash

336576845.44-299179971.34

equivalents

(2) Composition of cash and cash equivalents

In RMB

Item Ending balance Beginning balance

I. Cash 1505821534.61 1169244689.17

Including: cash on hand 102922.02 90657.72

deposits available for payment at

1504839595.491167338722.58

any time

other cash and cash equivalents

879017.101815308.87

available for payment at any time

III. Closing balance of cash and cash

1505821534.611169244689.17

equivalents

56. Foreign currency monetary item

(1) Foreign currency monetary item

In RMB

Ending balance in foreign

Item Exchange rate for conversion Ending balance in RMB

currency

Cash and cash equivalents

Including: USD 6460536.80 6.8109 44002070.09

EUR 1148.54 7.7671 8920.83

HKD 1021.90 0.86855 887.57

AUD 3.86 4.6804 18.07

MYR (Malaysian ringgit) 686492.50 1.67342 1148790.28

IDR (Indonesian rupiah) 616853148.00 0.000381 235021.05

Accounts receivable

Including: USD 8742404.70 6.8109 59543644.17

IDR (Indonesian rupiah) 690869917.19 0.000381 263221.44

129Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

MYR (Malaysian ringgit) 1994478.73 1.67342 3337600.60

(2) The nature of currency non-convertibility and its financial implications the spot rates used and the

process for estimating them and the risks faced by the entity due to currency non-convertibility

□Applicable□Not applicable

(3) Description for overseas operating entities including the disclosure of the main business location

overseas bookkeeping base currency and selection basis for the important business entity overseas as

well as the reason for the change of bookkeeping base currency (if any).□Applicable□Not applicable

(4) Cases where the bookkeeping base currency of a foreign operation is not convertible into the entity’s

presentation currency

□Applicable□Not applicable

VIII. R&D expenditure

In RMB

Item Amount of the current period Amount of the previous period

Total 157591442.53 158939711.88

Total 157591442.53 158939711.88

Including: Expensed R&D expenditure 157591442.53 158939711.88

IX. Interests in other entities

1. Equity in subsidiaries

(1) Composition of the Robam Group

In RMB

Principal Shareholding ratio

Registered Registration Nature of Acquisition

Subsidiary place of

capital place business

business Direct Indirect

method

Shanghai Businesses

Robam Sales of combination

Appliances 5000000.00 Shanghai Shanghai kitchen 100.00% under

Sales Co. appliances common

Ltd. control

Beijing Businesses

Robam Sales of combination

Appliances 5000000.00 Beijing Beijing kitchen 100.00% under

Sales Co. appliances common

Ltd. control

Hangzhou Acquisition

Sales of

MingQi 50000000.0 upon its

Hangzhou Hangzhou kitchen 100.00%

Electric Co. 0 establishmen

appliances

Ltd. t

Shengzhou 32653061.0 Shaoxing Shaoxing Production 51.00% Business

130Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Kinde 0 and sales of combination

Intelligent kitchen not under

Kitchen appliances common

Appliances control

Co. Ltd.Shengzhou Production

Establishmen

Dijia and sales of

8000000.00 Shaoxing Shaoxing 51.00% t of a

Technology kitchen

subsidiary

Co. Ltd. appliances

De Dietrich

Household Acquisition

Sales of

Appliances 80000000.0 upon its

Shanghai Shanghai kitchen 51.00%

Trading 0 establishmen

appliances

(Shanghai) t

Co. Ltd.Hangzhou Acquisition

Sales of

Jinhe Electric 10000000.0 upon its

Hangzhou Hangzhou kitchen 100.00%

Appliances 0 establishmen

appliances

Co. Ltd. t

Hangzhou

Robam Asset Acquisition

Fuchuang 10000000.0 investment upon its

Hangzhou Hangzhou 100.00%

Investment 0 management establishmen

Management etc. t

Co. Ltd.Robam

Asset Acquisition

Appliances

investment upon its

Holding 2250000.00 Hong Kong Hong Kong 100.00%

management establishmen

(HK) Co.etc. t

Ltd.Robam

Acquisition

International Sales of

upon its

(HK) 500000.00 Hong Kong Hong Kong kitchen 100.00%

establishmen

Trading Co. appliances

t

Ltd.Robam Asset Acquisition

Appliances investment upon its

1750000.00 Los Angeles Los Angeles 100.00%

U.S. Holding management establishmen

Co. Ltd. etc. t

Robam

Acquisition

Appliances Sales of

upon its

Los Angeles 2500000.00 Los Angeles Los Angeles kitchen 70.00%

establishmen

Trade Co. appliances

t

Ltd.Robam

Asset Acquisition

Appliances

investment upon its

(HK) 50000.00 Hong Kong Hong Kong 100.00%

management establishmen

Excellence

etc. t

Co. Ltd.Indonesia Acquisition

Sales of

Robam upon its

1200000.00 Jakarta Jakarta kitchen 100.00%

Appliances establishmen

appliances

LLC t

Robam Acquisition

Sales of

Appliances Kuala Kuala upon its

1000.00 kitchen 100.00%

International Lumpur Lumpur establishmen

appliances

Trading t

131Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

(Malaysia)

Co. Ltd.Hangzhou Acquisition

Sales of

Robam E- 10000000.0 upon its

Hangzhou Hangzhou kitchen 100.00%

commerce 0 establishmen

appliances

Co. Ltd. t

Chengdu

Acquisition

Robam Software

upon its

Innovation 5000000.00 Chengdu Chengdu development 100.00%

establishmen

Technology services

t

Co. Ltd.Acquisition

Ningbo Jinhe Sales of

upon its

E-commerce 5000000.00 Ningbo Ningbo kitchen 100.00%

establishmen

Co. Ltd. appliances

t

Hangzhou

Acquisition

Yuhang Sales of

upon its

Jinhe E- 5000000.00 Hangzhou Hangzhou kitchen 100.00%

establishmen

commerce appliances

t

Co. Ltd.Chengdu Acquisition

Sales of

Robam E- upon its

5000000.00 Chengdu Chengdu kitchen 100.00%

commerce establishmen

appliances

Co. Ltd. t

Qingdao Acquisition

Sales of

MingQi E- upon its

5000000.00 Qingdao Qingdao kitchen 100.00%

commerce establishmen

appliances

Co. Ltd. t

Acquisition

Wuhan Jinhe Sales of

upon its

E-commerce 5000000.00 Wuhan Wuhan kitchen 100.00%

establishmen

Co. Ltd. appliances

t

Hangzhou

Robam Acquisition

Sales of

Commercial 50000000.0 upon its

Hangzhou Hangzhou kitchen 100.00%

Kitchen 0 establishmen

appliances

Technology t

Co. Ltd.Hainan

Acquisition

Robam Sales of

200000000. upon its

Intelligent Haikou Haikou kitchen 100.00%

00 establishmen

Technology appliances

t

Co. Ltd.Robam

Asset Acquisition

Appliances

investment upon its

Investment 10000.00 Hong Kong Hong Kong 100.00%

management establishmen

(HK) Co.etc. t

Ltd.

(2) Major non-wholly owned subsidiaries

In RMB

Gains/losses Dividend declared and

Proportion of shares

attributable to minority distributed to minority Shengzhou Kinde

Subsidiary held by minority

shareholders in the shareholders in the Intelligent Kitchen

shareholders

current period current period

132Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Shengzhou Kinde

Intelligent Kitchen 49.00% -3718357.66 68723407.21

Appliances Co. Ltd.Robam Appliances Los

30.00%353299.791640069.34

Angeles Trade LLC

(3) Main financial information of important partially-owned subsidiaries

In RMB

Ending balance Beginning balance

Subsid Curren Non- Curren Non-Non- Total Non- Total

iary Curren Total t current Curren Total t currentcurrent liabiliti current liabiliti

t assets assets liabiliti liabiliti t assets assets liabiliti liabiliti

assets es assets es

es es es es

Sheng

zhou

Kinde

Intellig

ent 49457 27440 32386 14895 34656 18361 49942 28468 33462 15067 36110 18678

Kitche 557.7 9113. 6671. 8154. 665.3 4819. 501.0 4103. 6604. 5463. 804.4 6268.n 3 56 29 54 4 88 8 59 67 74 7 21

Applia

nces

Co.Ltd.Robam

Applia

nces

3606437343297192971930190333772551625516

Los 1278 3186

151.1119.0781.60.00781.6452.9013.0101.10.00101.1

Angele 967.90 560.16

33332877

s

Trade

LLC

In RMB

Amount of the current period Amount of the previous period

Subsidiary Total TotalOperating Operating Operating Operating

Net profit consolidate Net profit consolidate

income cash flow income cash flow

d income d income

Shengzhou

Kinde

------

Intelligent 24584328. 32899556.

7588485.07588485.09815178.616410940.16410940.18808886.

Kitchen 69 79

555707063

Appliances

Co. Ltd.Robam

Appliances - - -

25427145.1384517.81233896.323671924.-

Los 2197549.6 1026475.8 1026475.8

230859631035.86

Angeles 3 9 9

Trade LLC

133Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

2. Equity in joint ventures or associates

(1) Summary of the financial information of minor joint ventures and associates

In RMB

Ending balance/amount incurred in Beginning balance/amount incurred in

current period previous period

Joint ventures:

Total carrying value of investment 1808918.87

Totals of the following items calculated

as per respective shareholding proportion

- Net profit -5929180.03 -4542282.24

- Total comprehensive income -5929180.03 -4542282.24

Associates:

Total carrying value of investment 3998179.24 4366896.36

Totals of the following items calculated

as per respective shareholding proportion

- Net profit -4117526.16 157036.68

- Total comprehensive income -4117526.16 157036.68

X. Government subsidies

1. Government subsidies recognized based on receivables at the end of the reporting period

□Applicable□Not applicable

Reasons for not receiving the projected amount of government subsidies at the projected point in time

□Applicable□Not applicable

2. Liabilities involving government subsidies

□Applicable □Not applicable

In RMB

Amount

Added included in Amount

subsidy non- transferred to Other Related to

Beginning Ending

Account amount in operating other income changes this assets/incom

balance balance

the current income in the in the current period e

period current period

period

Deferred 100318829. 92402790.1 Related to

7916038.98

income 17 9 assets

3. Government subsidies included in the current profit and loss

□Applicable □Not applicable

In RMB

Account Amount of the current period Amount of the previous period

134Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Other income 81392197.02 57093555.90

XI. Risks Relating to Financial Instruments

The Company is exposed to a variety of financial instrument risks in its day-to-day activities including market risk (such as

exchange rate risk interest rate risk and commodity price risk) credit risk and liquidity risk. Risks related to these financial

instruments and risk management policies adopted by the Company to reduce such risks are outlined as follows. The management

of the Company manages and monitors such risk exposures to ensure to keep the risks above within limited scope.

1. Objectives and policies of risk management

Risk management conducted by the Company is to properly balance risk and income minimize negative impacts of the risks on

the Company’s business performance and maximize benefits of the shareholders and other equity investors. Based on the risk

management objective the Company’s basic risk management policy is to determine and analyze all kinds of risks faced by the

Company establish appropriate risk bottom line for risk management and monitor all risks promptly and reliably to keep risks

within a limited range.

（1）Market risk

1） Exchange rate risk

The Company's exposure to exchange rate risk is mainly related to U.S. dollars the Malaysian ringgit and the Indonesian rupiah.Except for a few subsidiaries of the Company which make purchases and sales in U.S. dollars the Company's other major business

activities are denominated and settled in Renminbi. As at June 30 2026 except for the U.S. dollar- ringgit- and rupiah-denominated

balances of assets and liabilities and the insignificant balances denominated in Euro and Hong Kong dollar as disclosed in Note VII.Notes to Items in the Consolidated Financial Statements—56. Foreign currency monetary items the Company’s assets and liabilities

were denominated in Renminbi. Exchange risk resulting from the assets and liabilities whose balances are in U.S. dollars may affect

the Company’s performance.

2） Price risk

Since the Company sells its products at market prices it may be affected by such price fluctuations.

（2） Credit risk

The Company manages credit risk by portfolio classification. Credit risk arises primarily from cash and cash equivalents notes

receivable accounts receivable and other receivables.To reduce credit risk the Company has established a dedicated department responsible for determining the credit limits

conducting credit approval and implementing other monitoring procedures to ensure that necessary measures are taken to recover

due debt. In addition the Company reviews the recovery of each account payable on each balance sheet date so as to ensure

sufficient bad debt provisions for unrecoverable accounts. Therefore the management of the Company holds that the credit risk faced

by the Company has been significantly reduced.The credit risk of the Company’s liquid capital is low since it is deposited at banks with relatively high credit rating.

135Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Because the risk exposures of the Company are related to multiple contracting parties and multiple clients the Company has no

major credit risk concentration. The Company adopts necessary policies to ensure all of the clients involved in the sales of our

products have good credit record. The Company has no major credit risk concentration.

（3） Liquidity risk

Liquidity risk is faced by the Company where it cannot meet its financial obligations as they fall due. Company manages the

liquidity risk by ensuring capital liquidity to fulfill its due obligations to avoid unacceptable losses or damages to corporate

reputation. The Company management has closely examined the liquid assets of the Company and regularly analyzed the liability

structure/term and bank lines and so on to endure fund sufficiency. It is concluded that the Company has sufficient funds to meet the

demands of short-term loans and capital expenditure of the Company.

1) Analysis of the financial assets and financial liabilities of the Company as per maturity of the undiscounted contract

obligations remained is made as follows:

Ending amount

Item

Within 1 year 1-2 years 2-5 years Over 5years Total

Financial assets

Cash and cash

equivalents 1569931346.24 0.00 0.00 0.00 1569931346.24

Financial assets held

for trading 2640000000.00 0.00 0.00 0.00 2640000000.00

Notes receivable 535809020.34 0.00 0.00 0.00 535809020.34

Accounts receivable 1600748816.27 0.00 0.00 0.00 1600748816.27

Other receivables 108769365.44 0.00 0.00 0.00 108769365.44

Non-current assets

due within one year 3300412030.50 0.00 0.00 0.00 3300412030.50

Other current assets 83464762.36 0.00 0.00 0.00 83464762.36

Other non-current

assets 0.00 1292558151.15 807689315.08 0.00 2100247466.23

Financial liabilities

Short-term

borrowings 105220163.89 0.00 0.00 0.00 105220163.89

Notes payables 910139795.24 0.00 0.00 0.00 910139795.24

Accounts payable 2200075762.05 0.00 0.00 0.00 2200075762.05

Other payables 289581022.37 0.00 0.00 0.00 289581022.37

Payroll payable 34640108.59 0.00 0.00 0.00 34640108.59

Non-current

liabilities due within 1715819.85 0.00 0.00 0.00 1715819.85

one year

Lease liabilities 0.00 1949664.40 4978033.09 0.00 6927697.49

(continued)

Amount at the beginning of the year

Item

Within 1 year 1-2 years 2-5 years Over 5 years Total

Financial assets

Cash and cash

equivalents 1236257860.53 0.00 0.00 0.00 1236257860.53

136Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Financial assets held

for trading 3230000000.00 0.00 0.00 0.00 3230000000.00

Notes receivable 578435043.55 0.00 0.00 0.00 578435043.55

Accounts receivable 1501774623.23 0.00 0.00 0.00 1501774623.23

Other receivables 73533704.37 0.00 0.00 0.00 73533704.37

Non-current assets due

within one year 499143689.50 0.00 0.00 0.00 499143689.50

Other current assets 88468071.99 0.00 0.00 0.00 88468071.99

Other non-current

financial assets 0.00 800451400.00 0.00 0.00 800451400.00

Other non-current

assets 0.00 140051984.80 16441461.31 0.00 156493446.11

Financial liabilities

Short-term borrowings 97738579.05 0.00 0.00 0.00 97738579.05

Notes payables 1102064932.55 0.00 0.00 0.00 1102064932.55

Accounts payable 2655136329.40 0.00 0.00 0.00 2655136329.40

Other payables 294434125.10 0.00 0.00 0.00 294434125.10

Payroll payable 179852713.89 0.00 0.00 0.00 179852713.89

Other current

liabilities

Non-current liabilities

due within one year 1967891.30 0.00 0.00 0.00 1967891.30

Lease liabilities 0.00 6129458.89 1737544.18 0.00 7867003.07

2. Sensitivity analysis

The Company applies sensitivity analysis techniques to assess the potential impact of reasonably possible changes in risk

variables on the current profit or loss or shareholders’ equity. As changes in any individual risk variable rarely occur independently

and correlations among variables may significantly affect the ultimate impact of changes in a particular risk variable the following

analysis is conducted on the assumption that each variable changes independently.

（1） Sensitivity analysis of foreign exchange risk

The foreign exchange risk sensitivity analysis assumes that all hedges of net investments in foreign operations and cash flow

hedges are highly effective.Based on the above assumptions the after-tax effect on current profit and loss and equity of a reasonable possible change in

exchange rates with all other variables held constant would be as follows: The Company's exposure to exchange rate risk relates

primarily to currencies such as the U.S. dollar Euro and Australian dollar. The foreign exchange risk borne by the Company is

mainly associated with USD. As of June 30 2026 except for the foreign currency balances of assets and liabilities disclosed in Note

VII. Notes to Items in the Consolidated Financial Statements—56. Foreign currency monetary items the Company’s assets and

liabilities were denominated in Renminbi. Exchange risk resulting from the assets and liabilities whose balances are in foreign

currency may affect the Company’s performance.The Company pays close attention to the impact of change in exchange rate on the Company’s exchange risk. Currently the

Company hasn’t adopted any measures to avoid foreign exchange risk.

137Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

XII. Disclosure of Fair Value

1. Assets and liabilities measured at fair value at the end of the period

In RMB

Ending fair value

Item Fair value Fair value Fair value

Total

measurement (Level 1) measurement (Level 2) measurement (Level 3)

Continuous fair value

--------

measurement

(I) Financial assets

2640000000.002640000000.00

held for trading

1. Financial assets

measured at fair value 2640000000.00 2640000000.00

through profit and loss

(4) Financial products 2640000000.00 2640000000.00

(III) Investment in

other equity 2116023.22 2116023.22

instruments

Total assets measured

continuously at fair 2642116023.22 2642116023.22

value

II. Non-continuous fair

--------

value measurement

2. Valuation techniques adopted and qualitative and quantitative information on important parameters

for the items involved in Level 3 continuous and non-continuous fair value measurement

Relationship

Significant between

Item Ending fair value Valuation techniques unobservable unobservable

value value and fair

value

Financial products 2640000000.00 Optimal fair value estimation Investment cost —

Investment in other equity

instruments 2116023.22 Optimal fair value estimation Investment cost —

XIII. Related Party and Related Party Transactions

1. The Company’s parent company

Proportion of

Proportion of the Company's shares

Parent company Registration place Nature of business Registered capital voting right of the held by the parent

parent company company in the

Company

Hangzhou Robam Investment and

Hangzhou

Industrial Group industrial RMB 60 million 49.90% 49.90%

Zhejiang

Co. Ltd. management

Description of the parent company

The ultimate controlling party of the Company is Ren Jianhua.

138Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

2. The Company’s subsidiaries

For details regarding the Company’s subsidiaries please refer to Note IX. Interests in Other Entities—1. Equity in subsidiaries.

3. The Company’s joint ventures and associated companies

For details on the Company’s significant joint ventures and associates see Note IX. Interests in Other Entities—2. Equity in joint

ventures or associates.

4. Other related parties

Name of other related parties Relation between other related parties and the Company

Hangzhou Amblem Household Co. Ltd. Controlled by the same ultimate controlling party

Hangzhou Robam Fuel Station Co. Ltd. Controlled by the same ultimate controlling party

Hangzhou Nbond Nonwovens Co. Ltd. Controlled by the same ultimate controlling party

Hangzhou Bonyee Daily Necessity Technology Co. Ltd. Controlled by the same ultimate controlling party

Hangzhou Guoguang Touring Commodity Co. Ltd. Controlled by the same ultimate controlling party

Hangzhou Seazons Health Care Product Co. Ltd. Controlled by the same ultimate controlling party

Hangzhou City Garden Hotel Co. Ltd. Other related parties

Shaoxing Kinde Electric Appliances Co. Ltd. Other related parties

Hangzhou Linping ROBAM Charity Foundation Other related parties

Hangzhou Runqun Hardware Co. Ltd. Other related parties

Shaoxing Shuaige Kitchen and Bathroom Technology Co. Ltd. Other related parties

Zhejiang Cookingfuture Technology Co. Ltd. Other related parties

5. Related transactions

(1) Related transactions regarding purchasing and selling goods and providing and accepting labor

services

Table of the purchasing of goods and receiving of labor services

In RMB

Whether exceeds

Description of the

Amount of the Trading limit the approved Amount of the

Related parties related

current period approved limited or not previous period

transactions

(Y/N)

Hangzhou

Amblem

Purchase of goods 15338629.32 150000000.00 No 25933529.67

Household Co.Ltd.Hangzhou Seazons

Health Care Purchase of goods 2799257.26 2658410.14

Product Co. Ltd.Hangzhou Robam

Fuel Station Co. Purchase of goods 334927.86 381938.26

Ltd.Hangzhou City

Receiving of labor

Garden Hotel Co. 0.00 101413.81

services

Ltd.Hangzhou Runqun

Hardware Co. Purchase of goods 0.00 83502.69

Ltd.Hangzhou Bonyee Purchase of goods 20227.73 27605.13

139Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Daily Necessity

Technology Co.Ltd.Shaoxing Shuaige

Kitchen and

Bathroom Purchase of goods 184615.04 206140.71

Technology Co.Ltd.Zhejiang

Cookingfuture Receiving of labor

414672.640.00

Technology Co. services

Ltd.De Dietrich Trade

(Shanghai) Co. Purchase of goods 0.00 134338.94

Ltd.Hangzhou

Guoguang Touring

Purchase of goods 7919.45 -1675.66

Commodity Co.Ltd.Hangzhou Yuhang

Receiving of labor

Yaguang Spray 0.00 23.36

services

Coating Factory

Goods sales/labor service provision

In RMB

Description of the related Amount of the previous

Related parties Amount of the current period

transactions period

Hangzhou Linping ROBAM

Sale of goods 1845119.23 2295858.44

Charity Foundation

Hangzhou Amblem

Sale of goods 410000.85 -93709.02

Household Co. Ltd.Zhejiang Cookingfuture

Provision of services 1274025.51 87090.08

Technology Co. Ltd.Shaoxing Shuaige Kitchen

and Bathroom Technology Provision of services 561687.96 0.00

Co. Ltd.Hangzhou Nbond Nonwovens

Sale of goods 0.00 29203.54

Co. Ltd.Hangzhou Runqun Hardware

Sale of goods 0.00 37755.07

Co. Ltd.

（2） Related lease

The Company acts as the lessor:

Lessee Type of leased asset Rental income recognized in Lease income recognized in thethe current period prior period

Hangzhou Robam Appliances Co. Ltd. Housing 14400.00 14400.00

Shengzhou Kinde Intelligent Kitchen

Appliances Co. Ltd. Housing 641537.61 641537.61

Shengzhou Kinde Intelligent Kitchen

Appliances Co. Ltd. Housing 268172.94 292552.29

The Company acts as the lessee:

140Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

In RMB

Rental expenses Variable lease

for simplified payments not

Interest expense

short-term leases included in the Increased right-of-

Rental paid incurred on lease

and leases of low- measurement of use assets

Type of liabilitiesvalue assets (if lease liabilities (if

Lessor leased applicable) applicable)

asset

Amoun Amoun Amoun Amoun Amoun Amoun Amoun Amoun Amoun Amoun

t of the t of the t of the t of the t of the t of the t of the t of the t of the t of the

current previou current previou current previou current previou current previou

period s period period s period period s period period s period period s period

Robam

Industri

al Housin 275012

Group g .28

Co.Ltd.

(3) Benefits of key management personnel

In RMB

Item Amount of the current period Amount of the previous period

Total compensation 2666500.00 4134000.00

(4) Other related transactions

6. Receivables and payables of related parties

(1) Accounts receivable

In RMB

Ending balance Beginning balance

Name of item Related parties

Book balance Bad debt reserve Book balance Bad debt reserve

De Dietrich Trade

Accounts

(Shanghai) Co. 1051825.87 1051825.87

receivable

Ltd.Zhejiang

Accounts Cookingfuture

1703651.401139428.57

receivable Technology Co.Ltd.Hangzhou

Accounts Amblem

170630.00227824.00

receivable Household Co.Ltd.Shaoxing Shuaige

Kitchen and

Accounts

Bathroom 661244.00 276326.16

receivable

Technology Co.Ltd.Hangzhou Linping

Accounts

ROBAM Charity 1720014.72

receivable

Foundation

Prepayments Zhejiang 3177643.32 648688.86

141Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Cookingfuture

Technology Co.Ltd.Hangzhou

Guoguang Touring

Prepayments 6549.45

Commodity Co.Ltd.De Dietrich Trade

Other receivables (Shanghai) Co. 2867534.74

Ltd.

(2) Accounts payable

In RMB

Book balance at the end of the Book balance at the beginning

Name of item Related parties

period of the period

Hangzhou Robam Fuel

Accounts payable 4071439.14 5692970.67

Station Co. Ltd.Hangzhou Amblem

Accounts payable 4099024.35 11871917.49

Household Co. Ltd.Hangzhou Seazons Health

Accounts payable 1405472.31 1596387.50

Care Product Co. Ltd.Hangzhou Guoguang Touring

Accounts payable 1370.00 0.00

Commodity Co. Ltd.Hangzhou Bonyee Daily

Accounts payable Necessity Technology Co. 10168.81 21935.83

Ltd.Shaoxing Shuaige Kitchen

Accounts payable and Bathroom Technology 100977.11 178517.43

Co. Ltd.Zhejiang Cookingfuture

Accounts received in advance 2900.00 0.00

Technology Co. Ltd.Hangzhou Seazons Health

Other payables 2000.00 2000.00

Care Product Co. Ltd.Hangzhou Amblem

Other payables 5000.00 5000.00

Household Co. Ltd.Hangzhou Guoguang Touring

Other payables 2000.00 2000.00

Commodity Co. Ltd.Shaoxing Shuaige Kitchen

Other payables and Bathroom Technology 2000.00 0.00

Co. Ltd.XIV. Share-based Payment

1. Overview of share-based payment

□Applicable □Not applicable

Awarded during the Exercise during the Unlocking in the Expired in the

Category period period current period current period

of grant Quantity(in Amount

Quantity

(in Amount

Quantity

(in Amount

Quantity Amount

recipients 10000 (in RMB (in RMB (in RMB

(in (in RMB

shares) 10000)

10000

shares) 10000)

10000 10000) 10000shares) shares) 10000)

Managem

ent 0.00 0.00 4.50 16.88 168.60 632.25 409.70 3084.78

142Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Awarded during the Exercise during the Unlocking in the Expired in the

Category period period current period current period

of grant Quantity(in Amount

Quantity Quantity Quantity

recipients (in RMB (in

Amount Amount Amount

10000 (in RMB

(in (in RMB (in

10000)1000010000)1000010000)10000

(in RMB

shares) shares) shares) shares) 10000)

personnel

Total 0.00 0.00 4.50 16.88 168.60 632.25 409.70 3084.78

Stock options or other equity instruments issued at the end of the period and held by external parties

□Applicable□Not applicable

Other description

On April 28 2026 the Company held the 21st meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Cancellation of Part of the Stock Options under the 2023 Stock Option Incentive Plan and other proposals. A total

of 2036000 stock options were canceled with a total value of RMB 12419600. On May 7 2026 the cancellation of part of the

stock options under the Stock Option Incentive Plan was completed.On April 28 2026 the Company held the 21st meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Cancellation of Part of the Stock Options under the 2024 Stock Option Incentive Plan and other proposals. A total

of 1754000 stock options with a value of RMB 17276900 were canceled. On May 7 2026 the cancellation of part of the stock

options under the Stock Option Incentive Plan was completed.On April 28 2026 the Company held the 21st meeting of the 6th Board of Directors which reviewed and approved the

Proposal on the Cancellation of Part of the Stock Options under the 2025 Stock Option Incentive Plan and other proposals. A total

of 307000 stock options with a value of RMB 1151300 were canceled. On May 8 2026 the cancellation of part of the stock

options under the Stock Option Incentive Plan was completed.On May 22 2026 the Company held the 22nd meeting of the 6th Board of Directors which reviewed and approved

Proposal on the Achievement of Exercise Conditions for the First Exercise Period of the 2025 Stock Option Incentive Plan and

other proposals. The number of stock options eligible for exercise in this exercise period is 1686000 with a total value of RMB

6322500. As of the end of the reporting period 45000 shares had been exercised totaling RMB 168800.

2. Equity-settled share-based payment

□Applicable □Not applicable

In RMB

The Company evaluates the fair value of stock options using

Method for determining the fair value of equity instruments on

the internationally recognized Black-Scholes option pricing

the grant date

model.Important parameters for determining the fair value of equity

Best estimate of the number of vested equity instruments

instruments on the grant date

Reasons for material differences between the current estimate

N/A

and the previous estimate

Cumulative amount of equity-settled share-based payments

29444273.62

included in the capital reserve

Total expense recognized for equity-settled share-based

9142690.86

payments in the current period

143Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

3. Cash-settled share-based payment

□Applicable□Not applicable

4. Share-based payment for the current period

□Applicable □Not applicable

In RMB

Equity-settled share-based payment Cash-settled share-based payment

Category of grant recipients

expense expense

Management personnel 9142690.86

Total 9142690.86

Other description

XV. Commitments and Contingencies

1. Major commitments

(1) Major commitments on the balance sheet date

The Company committed to investing RMB 4 million in Zhejiang Tingshuo Brand Operation Management Co. Ltd. of

which RMB 2 million has been paid in accounting for 40% of the shares. The remaining RMB 2 million has not been paid in.Apart from the above-mentioned commitments the Company has no other significant commitments.

2. Contingencies

(1) Major contingencies on the balance sheet date

As of the balance sheet date the Company had no material contingent liabilities that required disclosure.

(2) It’s also necessary to make it clear hereby that the Company has no major contingencies that need to

be disclosed

The Company has no significant or pending matters that need to be disclosed.XVI. Events After the Balance Sheet Date

1. Important non-adjustment matters

In RMB

Impact on financial position Reasons why the impact

Item Content

and results of operations cannot be estimated

As on the reporting date the

Company newly entered into

Debt restructuring matters

accounts receivable

after the period

settlement agreements

through debt-for-asset

144Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

arrangements amounting to

RMB 2.2761 million of

which RMB 0.00 had

completed online filing and

house delivery procedures;

for debt settlement

agreements entered into in the

first half of 2026 and prior

years the amount for which

online filing and house

delivery procedures were

completed during the period

from the balance sheet date to

the reporting date amounted

to RMB 9.1363 million.

2. Profit distribution

The proposed dividend per 10 shares (RMB) 5

The proposed number of bonus shares per 10 shares (shares) 0

The proposed number of additional shares per 10 shares

0

(shares)

The dividend per 10 shares declared and approved for

5

distribution (RMB)

The number of bonus shares per 10 shares declared and

0

approved for distribution (shares)

The number of additional shares per 10 shares declared and

0

approved for distribution (shares)

On August 27 2026 pursuant to the Proposal on the

Implementation of 2026 Interim Dividend Distribution Plan

approved at the 2nd meeting of the 7th Board of Directors of

the Company the Company proposed to distribute a cash

Profit distribution

dividend of RMB 5 (including tax) per 10 shares to all

shareholders based on a total share capital of 944992916

shares amounting to a total proposed cash dividend of RMB

472496458.00.

XVII. Other Significant Events

1. Debt restructuring

As of June 30 2026 the Company’s situation regarding the signing of the agreement on project mortgage properties and the

completion of procedures for purchasing houses through online signing and filing is as follows:

Including: Completion of

procedures for online filing and Amount required in case of

Item Amount of debt repaymentagreement signed delivery of houses

unfinished procedures for

Amount required for the online filing or delivery of

procedures houses

Real estate customers 749804984.13 466145466.11 283659518.02

Total 749804984.13 466145466.11 283659518.02

145Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

The Company signed an agreement on project mortgage properties with the aforementioned real estate customers involving

a total accounts receivable balance of RMB 749805000. The procedures for online filing and house delivery of the portion of

RMB 466145500 has been completed and the recognition of creditor's rights on accounts receivable has been terminated. The

fair value of the real estate used for debt repayment at the time point of debt restructuring is presented in the item of other non-

current assets with a fair value of the portion of RMB 483386000 confirmed through public market inquiry. The Company paid a

price difference of RMB 17240500 in cash. At the time point of debt restructuring there was no profit and loss from the

restructuring. The procedures for online signing and filing of the houses have not yet been completed for the remaining portion of

RMB 283659500. The Company has not terminated the recognition of the creditor's rights on accounts receivable and has made a

bad debt provision at an expected credit loss rate of 45%.XVIII. Notes to Main Items of the Financial Statements of the Parent Company

1.Accounts receivable

(1) Disclosure by aging of accounts

In RMB

Book balance at the beginning of the

Aging Book balance at the end of the period

period

Within 1 year (including 1 year) 1298111626.24 1315707930.22

1-2 years 172593248.93 199515465.52

2-3 years 188389904.39 310448004.11

Over 3 years 352870700.01 259820318.39

3-4 years 168120456.56 137969463.95

4-5 years 145080704.61 105890527.98

Over 5 years 39669538.84 15960326.46

Subtotal 2011965479.57 2085491718.24

Less: provision for bad debts 452018946.71 483430158.73

Total 1559946532.86 1602061559.51

(2) Classification of disclosure according to the bad debt provision method

In RMB

Ending balance Beginning balance

Book balance Bad debt reserve Book balance Bad debt reserve

Categor Percenta

y Carrying

Percenta Carrying

Percenta ge of value Percenta ge ofAmount Amount Amount Amount value

ge (%) provisio ge (%) provisio

n n

Account

s

receivab 585094 344501 240592 701551 395523 306028

le with 29.08% 58.88% 33.64% 56.38%459.02 785.27 673.75 989.42 085.61 903.81

provisio

n for bad

debts on

146Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

an

individu

al basis

Includ

ing:

Account

s

receivab

le with

provisio 142687 107517 131935 138393 879070 129603

70.92%7.54%66.36%6.35%

n for bad 1020.55 161.44 3859.11 9728.82 73.12 2655.70

debts on

a

collectiv

e basis

Includ

ing:

Aging-

122068107517111317100297879070915068

based 60.67% 8.81% 48.09% 8.76%

7732.97161.440571.536016.0273.12942.90

portfolio

Related-

party

portfolio

206183206183380963380963

within 10.25% 18.27%

287.58287.58712.80712.80

consolid

ation

scope

201196452018155994208549483430160206

Total 100.00% 22.47% 100.00% 23.18%

5479.57946.716532.861718.24158.731559.51

Category by individual bad debt provision:

In RMB

Beginning balance Ending balance

Percent

Name age of Reasons for

Book balance Bad debt reserve Book balance Bad debt reserve

provisio provision

n

Expected to be

Unit 1 182356917.60 87831983.32 139487225.91 69870478.33 50.09% difficult to fully

recover

Expected to be

Unit 2 94692708.65 65299506.65 94423248.00 64840631.32 68.67% difficult to fully

recover

Expected to be

Unit 3 89281524.70 26784457.41 42062439.02 12618731.71 30.00% difficult to fully

recover

Expected to be

Unit 4 30605439.56 13917042.04 34677639.87 16767582.26 48.35% difficult to fully

recover

Expected to be

Unit 5 22008442.37 14471075.41 22281046.87 14661898.56 65.80% difficult to fully

recover

Expected to be

Unit 6 22235928.00 14842515.85 20793789.68 13833019.03 66.52% difficult to fully

recover

147Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Expected to be

Unit 7 14153466.07 8329895.14 13098654.75 7729027.21 59.01% difficult to fully

recover

Expected to be

Unit 8 11666204.38 7101201.84 11082229.31 6831522.30 61.64% difficult to fully

recover

Expected to be

Unit 9 9785174.12 6849621.88 9785174.12 6849621.88 70.00% difficult to fully

recover

Expected to be

100.00

Unit 10 9166561.06 9166561.06 9166561.06 9166561.06 difficult to

%

recover

Expected to be

Unit 11 6149051.83 4304336.28 6149051.83 4304336.28 70.00% difficult to fully

recover

Expected to be

Unit 12 5729564.29 3684795.00 5454207.48 3492045.24 64.02% difficult to fully

recover

Expected to be

Summary of

203721006.79 132940093.72 176633191.12 113536330.09 64.28% difficult to fully

other clients

recover

Total 701551989.42 395523085.61 585094459.02 344501785.27

Category for bad debt provision on a collective basis: bad debt provision for accounts receivable is provided by account age

In RMB

Ending balance

Name

Book balance Bad debt reserve Percentage of provision

Within 1 year 1017581780.76 50879089.39 5.00%

1-2 years 88561671.32 8856167.13 10.00%

2-3 years 56463104.59 11292620.92 20.00%

3-4 years 38692696.99 19346348.50 50.00%

4-5 years 11227719.03 8982175.22 80.00%

Over 5 years 8160760.28 8160760.28 100.00%

Total 1220687732.97 107517161.44

If provision for bad debts of accounts receivable is made according to the general model of expected credit loss:

□Applicable□Not applicable

(3) Bad debt provision and its recovery or reversal in the current period

Bad debt provision in the current period:

In RMB

Amount of change in the current period

Beginning

Category Recovery or Ending balancebalance Provision Write-off Others

reversal

Bad debt

reserves for

483430158.7339371851.5332606523.74841827.8837334711.93452018946.71

accounts

receivable

Total 483430158.73 39371851.53 32606523.74 841827.88 37334711.93 452018946.71

Significant recoveries or reversals of provisions for bad debts during the reporting period:

In RMB

148Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Basis and

reasonableness of

Unit Recovery or reversal Reason for reversal Recovery method determining the

original provision ratio

for bad debts

The debtor is

experiencing cash flow

Collection of accounts

Suning 47715404.44 Bank transfer offset difficulties and it is

receivable

unlikely to recover the

full amount.Total 47715404.44

(4) Accounts receivable actually written off in the current period

In RMB

Item Amounts written off

Accounts receivable actually written off 841827.88

(5) Top five debtors with the largest ending balances of accounts receivable and contract assets

In RMB

Proportion in the Closing balance of

Closing balance of total ending provision for bad

Ending balance of

Ending balance of accounts balance of debts on accounts

Unit accounts

contract assets receivable and accounts receivable and

receivable

contract assets receivable and impairment of

contract assets contract assets

Unit 1 391359664.10 0.00 391359664.10 19.45% 19567983.21

Unit 2 81458328.38 0.00 81458328.38 4.05% 37546097.32

Unit 3 62837390.19 0.00 62837390.19 3.12% 0.00

Unit 4 55987747.71 0.00 55987747.71 2.78% 39191423.40

Unit 5 53084942.06 0.00 53084942.06 2.64% 2654247.10

Total 644728072.44 0.00 644728072.44 32.04% 98959751.03

2. Other receivables

In RMB

Item Ending balance Beginning balance

Dividends receivable 400000.00

Other receivables 57097798.34 45973203.37

Total 57097798.34 46373203.37

(1) Dividends receivable

1) Classification of dividends receivable

In RMB

Item (or investee) Ending balance Beginning balance

149Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Zhejiang Tingshuo Brand Operation

400000.00

Management Co. Ltd.Total 400000.00

(2) Other accounts receivable

1) Classification of other accounts receivable by nature

In RMB

Book balance at the beginning of the

Nature of receivable Book balance at the end of the period

period

Related-party balances within the

4114000.004114000.00

consolidation scope

Collections by a third party 28081094.04 15728131.10

Margin deposits/deposits 17231811.07 17754456.88

Proxy holding of project mortgage

14537654.0014537654.00

properties

Withholdings 6665853.10 3389076.99

Cash reserve 5287303.14 4358656.39

Others 3791188.46 2967667.63

Subtotal 79708903.81 62849642.99

Less: provision for bad debts 22611105.47 16876439.62

Total 57097798.34 45973203.37

2) Disclosure by aging of accounts

In RMB

Book balance at the beginning of the

Aging Book balance at the end of the period

period

Within 1 year (including 1 year) 56266764.19 43318441.78

1-2 years 6037038.02 4893036.89

2-3 years 2742335.04 4422478.97

Over 3 years 14662766.56 10215685.35

3-4 years 2166398.26 3736187.87

4-5 years 3007826.77 2179561.48

Over 5 years 9488541.53 4299936.00

Subtotal 79708903.81 62849642.99

Less: provision for bad debts 22611105.47 16876439.62

Total 57097798.34 45973203.37

3) Classification of disclosure according to the bad debt provision method

In RMB

Ending balance Beginning balance

Book balance Bad debt reserve Book balance Bad debt reserve

Categor Percenta

y Carrying

Percenta Carrying

Percenta ge of Percenta ge of

Amount Amount value Amount Amount value

ge (%) provisio ge (%) provisio

n n

150Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Provisio

n for bad

debts on 145376 654194 799570 145376 654194 799570

18.24%45.00%23.13%45.00%

an 54.00 4.30 9.70 54.00 4.30 9.70

individu

al basis

Includ

ing:

Aging-

based

portfolio

Provisio

n for bad

debts on 651712 160691 491020 483119 103344 379774

81.76%24.66%76.87%21.39%

a 49.81 61.17 88.64 88.99 95.32 93.67

collectiv

e basis

Includ

ing:

Aging-

651212160691490520483119103344379774

based 81.70% 24.66% 76.87% 21.39%

49.8161.1788.6488.9995.3293.67

portfolio

Related-

party

portfolio

50000.050000.0

within 0.06%

00

consolid

ation

scope

797089226111570977628496168764459732

Total 100.00% 28.37% 100.00% 26.85%

03.8105.4798.3442.9939.6203.37

Category by individual bad debt provision:

In RMB

Beginning balance Ending balance

Name Bad debt Bad debt Percentage of Reasons for

Book balance Book balance

reserve reserve provision provision

Expected

Unit 1 9976291.00 4489330.95 9976291.00 4489330.95 45.00%

impairment

Expected

Unit 2 1892194.00 851487.30 1892194.00 851487.30 45.00%

impairment

Expected

Unit 3 1205059.00 542276.55 1205059.00 542276.55 45.00%

impairment

Expected

Unit 4 657783.00 296002.35 657783.00 296002.35 45.00%

impairment

Expected

Unit 5 636327.00 286347.15 636327.00 286347.15 45.00%

impairment

Expected

Unit 6 170000.00 76500.00 170000.00 76500.00 45.00%

impairment

Total 14537654.00 6541944.30 14537654.00 6541944.30

Category for bad debt provision on a collective basis:

In RMB

Ending balance

Name

Book balance Bad debt reserve Percentage of provision

Within one year 44553220.19 2226399.28 5.00%

151Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

1-2 years 3162928.02 316292.80 10.00%

2-3 years 2742335.04 548467.01 20.00%

3-4 years 2166398.26 1083199.13 50.00%

4-5 years 3007826.77 2406261.42 80.00%

Over 5 years 9488541.53 9488541.53 100.00%

Total 65121249.81 16069161.17

Provision for bad debts according to the general model of expected credit loss:

In RMB

Phase I Phase II Phase III

Expected credit loss Expected credit loss

Bad debt reserve Expected credit loss over the entire period over the entire period Total

over the next 12

of existence (without of existence (with

months

credit impairment) credit impairment)

Balance as of January

10334495.326541944.3016876439.62

012026

Balance on January 01

2026 in the current

period

Provision in the current

5734665.855734665.85

period

Balance as of June 30

16069161.176541944.3022611105.47

2026

Changes in the book balance with significant change in amount of the loss provision in the current period

□Applicable□Not applicable

4) Bad debt provision and its recovery or reversal in the current period

Bad debt provision in the current period:

In RMB

Amount of change in the current period

Beginning

Category Recovery or Ending balancebalance Provision Write-offs Others

reversal

Bad debt

provision for

16876439.625734665.8522611105.47

other

receivables

Total 16876439.62 5734665.85 22611105.47

5) Top five debtors with the largest ending balances of other accounts receivable

The aggregate amount of the top five debtors with the largest ending balances of other accounts receivable was RMB

30114680.73 accounting for 37.78% of the total ending balance of other receivables. The corresponding total ending balance of

the bad debt provision was RMB 9375815.44.

3. Long-term equity investment

In RMB

152Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Ending balance Beginning balance

Item Impairment Impairment

Book balance Carrying value Book balance Carrying value

provision provision

Investments in

393809594.4920400000.00373409594.49377655061.1320400000.00357255061.13

subsidiaries

Investments in

joint ventures

2216793.352216793.351748308.551748308.55

and associated

companies

Total 396026387.84 20400000.00 375626387.84 379403369.68 20400000.00 359003369.68

(1) Investment in subsidiaries

In RMB

Beginning Opening Increase/decrease in the current period Ending Ending

balance balance of balance balance of

Investee（carrying impairment Additional Negative Impairment Others （carrying impairmentvalue) provision investment investment provision value) provision

Beijing

Robam

5814980.85814980.8

Appliances

22

Sales Co.Ltd.Shanghai

Robam

5838272.15838272.1

Appliances

00

Sales Co.Ltd.Hangzhou

MingQi 52929348. 53341981.

412632.48

Electric 56 04

Co. Ltd.Shengzhou

Kinde

Intelligent 16232000 16232000

Kitchen 0.00 0.00

Appliances

Co. Ltd.De Dietrich

Household

Appliances 20400000. 20400000.

630900.00630900.00

Trading 00 00

(Shanghai)

Co. Ltd.Hangzhou

Robam

Fuchuang 10000000. 10000000.Investment 00 00

Manageme

nt Co. Ltd.Hangzhou

Jinhe

10147135.10207123.

Electric 59987.10

9606

Appliances

Co. Ltd.

153Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Robam

Appliances

19238670.5490240.024728910.

Holding

00000

(HK) Co.Ltd.Chengdu

Robam

5220650.35339914.1

Innovation 119263.74

71

Technolog

y Co. Ltd.Hangzhou

Robam E- 10071939. 10117195.

45256.26

commerce 57 83

Co. Ltd.Ningbo

Jinhe E- 5000000.0 5000000.0

commerce 0 0

Co. Ltd.Hangzhou

Yuhang

5043163.75070317.5

Jinhe E- 27153.78

53

commerce

Co. Ltd.Chengdu

Robam E- 5000000.0 5000000.0

commerce 0 0

Co. Ltd.Qingdao

MingQi E- 5000000.0 5000000.0

commerce 0 0

Co. Ltd.Wuhan

Jinhe E- 5000000.0 5000000.0

commerce 0 0

Co. Ltd.Hangzhou

Robam

Commercia 50000000. 50000000.l Kitchen 00 00

Technolog

y Co. Ltd.Shengzhou

Dijia

Technolog

y Co. Ltd.Hainan

Robam

10000000.10000000.

Intelligent

0000

Technolog

y Co. Ltd.

3572550620400000.16154533.3734095920400000.

Total

1.1300364.4900

(2) Investment in joint ventures and associated companies

In RMB

154Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Increase/decrease in the current period

Invest

Openi ment

Beginn Adjustprofit Cash Endingng

ing ment

Ending

balanc and divide

balanc

of balancbalanc Additi Negati loss Other nds or Impair e ofInvest e of other ee onal ve recogn change profits ment impairor impair (carryi

(carryi compr Others ment

ment invest invest ized s in declare provisi

ng ehensi

ng

provisi ment ment using equity d and on

provisi

ve value)value)

on the distrib

on

incom

equity uted

es

metho

d

I. Joint venture

II. Associated enterprises

Zhejia

ng

Tingsh

uo

Brand

1748468482216

Operat

308.554.80793.35

ion

Manag

ement

Co.Ltd.Subtot 1748 46848 2216

al 308.55 4.80 793.35

1748468482216

Total

308.554.80793.35

Recoverable amount is determined as fair value less costs of disposal

□Applicable□Not applicable

The recoverable amount is determined as the present value of the estimated future cash flows

□Applicable□Not applicable

4. Operating income and operating cost

In RMB

Amount of the current period Amount of the previous period

Item

Income Cost Income Cost

Main business 3374441259.30 1826371129.26 3957912907.59 2083649957.54

Other businesses 99330648.14 45385646.84 102298538.44 54090616.80

Total 3473771907.44 1871756776.10 4060211446.03 2137740574.34

As of the end of the reporting period the revenue amount corresponding to performance obligations arising from contracts that had

been signed but had not yet been fulfilled or had not yet been fully fulfilled was RMB 784117483.30 of which RMB

784117483.30 is expected to be recognized as income in fiscal year 2026.

5. Investment income

In RMB

155Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Item Amount of the current period Amount of the previous period

Income from long-term equity

investments accounted for using the 468484.80 -2846136.10

equity method

Investment income from disposal of

47014378.2123722417.71

financial assets held for trading

Total 47482863.01 20876281.61

6. Others

XIX. Supplementary Information

1. Non-recurring profits and losses in the current period

□Applicable □Not applicable

In RMB

Item Amount Description

Gains and losses on disposal of non-

-595431.49

current assets

Government subsidies included in

current gains and losses (excluding

government subsidies closely related to

the Company's normal business in line

20926775.21

with national policy enjoyed according

to established standards and having a

sustained impact on the Company's gains

and losses).Reversal of impairment provision for

accounts receivable tested for 69941235.67

impairment separately

Other non-operating revenues and

1169581.54

expenses except the above items

Less: Affected amount of income tax 14465231.17

Affected amount of minority

950719.04

shareholders’ equity (after tax)

Total 76026210.72 --

Other items of gains and losses meeting the definition of non-recurring gains and losses:

□Applicable□Not applicable

The Company does not have other items of gains and losses meeting the definition of non-recurring gains and losses

Explanation on the circumstance where items of the non-recurring gains and losses enumerated in the Explanatory Announcement

No. 1 on Information Disclosure for Companies Offering Their Securities to the Public — Non-recurring Gains and Losses

(referred to as “Announcement No.1”) are defined as recurring gains and losses

□Applicable□Not applicable

2. Return on net assets and earnings per share (EPS)

Profit within the Reporting Weighted average return on EPS

156Full Text of Semi-Annual Report 2026 Hangzhou Robam Appliances Co. Ltd.

Period net assets Basic earnings per share

Diluted EPS (RMB/share)

(EPS) (RMB/share)

Net profit attributable to

common stockholders of the 4.91% 0.61 0.61

Company

Net profit attributable to

common shareholders of the

Company after deducting 4.26% 0.53 0.53

non-recurring profits and

losses

3. Accounting data differences under domestic and foreign accounting standards

(1) Differences of net profits and net assets in the Financial Report disclosed as per the IAS and CAS

□Applicable□Not applicable

(2) Differences of net profits and net assets in the Financial Report disclosed as per the foreign

accounting standard and CAS

□Applicable□Not applicable

(3) Explanation of the reasons of accounting data differences under domestic and foreign accounting

standards shall be made and where data audited by an overseas audit institution has been adjusted

based on the differences the name of the overseas institution shall be indicated.□Applicable□Not applicable

157