Haier Smart Home Company

Quarterly Report • Oct 30, 2025

Haier

Haier Smart Home Co., Ltd.* 海爾智家股份有限公司

(a joint stock company incorporated in the People's Republic of China with limited liability)

2025 THIRD QUARTER REPORT

The financial data of the Company for the third quarter of 2025 have been prepared in accordance with the China Accounting Standards for Business Enterprises and are unaudited. Net profit attributable to owners of the parent company and equity attributable to owners of the parent company in the consolidated financial statements are not different from those financial data prepared under the International Financial Reporting Standards.

Important Notice

The board of directors (the "Board"), directors, and senior management of the Company hereby assure that the content set out in the quarterly report is true, accurate and complete, and free from any false record, misleading representation or material omission, and are individually and collectively responsible for the content set out therein.

The legal representative of the Company, chief financial officer of the Company and person in charge of accounting department hereby certify that the financial information set out in the quarterly report is true, accurate and complete.

Whether the third quarterly report has been audited or not □Yes √No

I. Key Financial Information

(I) Major accounting data and financial indicators

Unit and Currency: RMB

Items	During the Reporting Period	For the corresponding period of last year Before		Year-on-year increase/decrease during the Reporting Period (%)	From the beginning of the year to the end of the Reporting Period		For the corresponding period of last year
		adjustment	After adjustment	After adjustment		Before adjustment	After adjustment	After adjustment
Operating revenue	77,559,583,508.49	67,348,647,820.80	70,823,002,467.39	9.51	234,053,617,957.34	202,971,196,941.81	212,805,485,073.14	9.98
Total profit	6,335,496,270.19	5,686,426,895.92	5,835,017,213.42	8.58	21,332,552,418.30	18,425,491,532.53	18,815,790,585.18	13.38
Net profit attributable to shareholders of the listed Company	5,339,701,483.85	4,734,229,394.77	4,738,596,359.87	12.69	17,372,697,304.12	15,154,447,783.99	15,148,238,900.50	14.68
Net profit after deduction of non-recurring profit or loss attributable to shareholders of the listed Company	5,189,920,054.97	4,524,653,457.51	4,524,653,457.51	14.70	16,892,328,611.67	14,685,158,359.89	14,685,158,359.89	15.03
Net cash flow from operating activities	N/A	N/A	N/A	N/A	17,491,126,692.81	13,875,667,270.94	14,427,377,354.07	21.24

Basic earnings per share (RMB per share)	0.59	0.51	0.51	15.69	1.89	1.64	1.64	15.24
Diluted earnings per share (RMB per share)	0.58	0.51	0.51	13.73	1.87	1.63	1.63	14.72
Weighted average return on net assets (%)	4.63%	4.47%	4.55%	Increased by 0.08 percentage points	14.97%	9.67%	14.37%	Increased by 0.60 percentage points
				At the end of last year			Increase/decrease at the end of the Reporting Period compared to the end of last year (%)
	At the end of the Reporting	g Period	Before adju	Before adjustment			After adjustment
Total assets	291	,516,018,779.60		290,113,822,824.61 290,736,35			0.27
Owner equity attributable to shareholders of the listed Company	119	9,576,206,497.34	290,113,822,824.61 111,366,118,999.17		111,778,874,767.22			6.98

Note: "Reporting Period" refers to the three-month period commencing from the beginning of this quarter to the end of this quarter. The same applies below.

Reasons for retrospective adjustment or restatement: In December 2024, the Company realised control over Youjin (Shanghai) Corporate Management Co., Ltd. by way of entrustment of voting rights. In March 2025, the Company completed the acquisition of equity interests in COSMOPlat Mould (Qingdao) Co., Ltd. The transaction was accounted for as a business combination under common control in accordance with relevant accounting standards and accordingly, the comparative figures for the corresponding period were restated.

I. Financial performance

For 9M2025, the Company reported revenue of RMB 234.054 bn, net profit attributable to shareholders of RMB 17.373 bn, and adjusted net profit (ex-non-recurring items) of RMB 16.892 bn, up 9.98%, 14.68%, and 15.03% YoY, respectively. In 3Q2025, revenue was RMB 77.560 bn, net profit was RMB 5.340 bn, and adjusted net profit was RMB 5.190 bn, up 9.51%, 12.69%, and 14.70% YoY.

1. China market overview

Market conditions softened in 3Q as the nationwide "trade-in" tailwind faded. According to AVC all-channel estimates, China's home-appliance retail sales (ex-3C) reached RMB 198.8 bn in 3Q2025, down 3.2% YoY; 9M2025 retail sales (ex-3C) were RMB 670.1 bn, up 5.2% YoY. Against that backdrop, our China revenue grew 9.5% in 9M2025 and 10.8% in 3Q2025. Core categories—refrigeration, laundry, and water solutions—maintained industry leadership with steady growth, while air-conditioning and kitchen appliances outperformed the market; notably, home AC revenue rose 30%+ YoY in the quarter.

Our third-quarter resilience was driven by three reinforcing levers:

• Proprietary innovation and lean intelligent manufacturing scaled blockbuster SKUs and suite offerings, enhancing user experience and value per household.
• Continued digital operating model—one inventory and data-driven marketing—improved efficiency, broadened channel coverage, and increased reach and conversion.
• Multi-brand synergy broadened consumer coverage, which, in turn, drove revenue growth—Casarte up 18% YoY and Leader up 25% in 9M2025.

1) Product advantage: blockbusters & suites

Our product edge came from two levers. Blockbusters: user co-creation and a global R&D/lean backbone improved model efficiency by 15.6% during the period. We continued to iterate on the Leader Multi-wash series: The Multi-wash Pro (launched Aug 2025) employs a tri-drum unified counter-balance to pack 12.5 kg into a 570 mm chassis (≤0.3 mm vibration; 216 mm micro drums) while maintaining a standard 850 mm height for seamless built-ins without remodeling. The design addresses common multi-drum issues—fit, vibration, and small-load care—in one product.

By end-September, series sales exceeded 200,000 units. Suites: we transitioned from single products to full solutions through in-house, cross-category collaboration, launching suites such as Casarte Zhi-Jing and Haier Mai-Lang that integrated AI, coordinated design, and whole-home smart control. This drove replacements and lifted value per household; suite mix reached 36% (+7pp YoY) for Casarte and 15% (+11pp YoY) for Haier.

2) One-inventory

We advanced our one-inventory (single-pool, omni-channel) model to build a faster, leaner operation. From launch in April through end-September, adoption among county specialty stores reached 86% (+15pp), while direct-to-user (D2U) orders rose from 26% to 74%. In parallel, 16.6k township stores came online (D2U at 26% and rising). We also piloted the model across comprehensive channels and key accounts (KA). In 3Q, we onboarded 61 new customers to the oneinventory program, contributing RMB 368 million in incremental retail sales; revenue from content e-commerce (Douyin, Xiaohongshu) and on-demand retail grew 100%+ YoY.

3) Digital marketing

We upgraded digital marketing to raise full-funnel efficiency: data-led insight, automated content, and a cross-platform account matrix converted brand heat into traffic and sales. YTD, we accumulated 34.64 million high-value audience assets (+17% YoY), achieved 13.98% share of voice (SOV) (+44% YoY), and improved marketing ROI by 13%. Leveraging suite synergies—through coordinated content seeding and suite-specific keywords—we reduced CAC and increased conversions and repeat purchases.

2. Overseas markets overview

Overseas revenue grew 8.25% YoY in 3Q2025, taking 9M growth to 10.5% YoY. Momentum came from countrylevel localization and an upgraded global operating model. On the product side, we paired global R&D with local insight to accelerate localized launches and shift the mix upward. Operationally, we integrated logistics, data, service, and marketing to speed response and improve the customer experience, strengthening retention and share. Across the supply chain, we diversified and rebalanced our footprint to increase resilience, laying a stronger foundation for sustainable growth.

1) North America

In 3Q 2025, North America demonstrated resilience amid a soft housing environment and cautious consumer sentiment. Performance was supported by premium mix gains, expansion of the Air & Water business, and ongoing cost-out and productivity initiatives.

• Premium mix lift. GE Appliances strengthened its mid- to high-end lineup (For example, Internal Dispense Café refrigerators, Monogram Under-counter wine & beverage centers, Built-in microwave-oven combinations, and Slie-In Induction Ranges). This further enhanced brand mix and price realization.
• Air & Water acceleration. The new side-discharge air conditioners and an expanded ducted lineup helped drive sales growth, and the overall Air & Water business achieved more than 20% growth in the quarter.
• Localized supply strength. Improved efficiency at U.S. plants and expanded capacity across North America supported stable supply and cost competitiveness, positioning the business for sustainable growth despite ongoing tariff-related pressures.

2) Europe

During the period, operating quality improved and market share rose in our major-appliance business across Western and Eastern Europe. According to GfK, retail volume share increased in both refrigeration (+1.2pp YoY) and laundry (+0.5pp YoY) across the UK, Italy, France, and Spain.

• Price/mix uplift. A stronger premium lineup moved sales upmarket: the new X-series washer lifted the €599+ mix from 17% to 25% in 9M2025, and New Candy premium models accounted for 50%+ of brand sales.
• Operating efficiency. We phased out lower-efficiency capacity and consolidated production into costadvantaged sites in China and Türkiye. In Europe, a central DC with a hub-and-spoke network optimized logistics and reduced transport costs. On the channel side, higher-quality outlets and better conversion supported continued growth in retail sell-out and channel gross margin across priority markets.

European HVAC. Revenue rose by more than 30% YoY in 3Q2025, maintaining strong momentum. GfK indicates our home-AC share ranked #1 in Italy's professional channel and Spain's retail channel. We extended share through multi-brand coordination and customized project wins, and—anticipating tighter EU efficiency rules—launched a full A+++ lineup, aligning with demand and reinforcing our product lead through the industry's upgrade cycle.

3) Emerging markets

Emerging markets grew solidly in 3Q2025, with South Asia, Southeast Asia, and the Middle East & Africa all expanding and profitability improving.

• South Asia. Revenue rose by more than 25% YoY in 9M2025. In India, cricket sponsorships deepened brand relevance, lifting awareness with mainstream consumers. In Pakistan, locally adapted launches—T3 hightemperature ACs and solar ACs for heat and unstable voltage—drove 9× YoY growth in solar ACs and nearly +400% YoY in T3 ACs for 1–9M2025, with premium mix and modern-trade expansion lifting both volume and price.
• Southeast Asia. Revenue increased by more than 15% YoY in 9M2025; we maintained the #1 unit share in major appliances in Thailand and Vietnam. Differentiated launches—T-door and Mai-Lang refrigerators, L+ ultra-premium washers, and X-series washers—moved the mix upmarket. We also advanced integrated offlinestore-plus-e-commerce operations and digital management to improve reach and service efficiency. In September 2025, our Chonburi (Thailand) AC park came online with 6 million units of planned annual capacity, serving demand across Southeast Asia and, leveraging Thailand's location, supplying Europe and the U.S.
• Middle East & Africa. Revenue grew by more than 60% YoY in 9M2025. We strengthened competitiveness with differentiated mid-to-premium products and precise price-band management, while sports marketing amplified brand impact. On channels, we focused on strategic accounts and expanded modern chains and specialty networks, broadening and deepening coverage.

II. Gross Profit Margin

The gross profit margin in the first three quarters of 2025 reached 27.2%, representing an increase of 0.1 percentage points as compared with the same period in 2024. In particular, the domestic market operations focused on maximizing cost efficiency. We adhered to the principle of "low cost, high efficiency" in setting our cost competitiveness targets and full-process implementation, thus resulting in a year-on-year increase in gross profit margin. As for overseas markets, we steadfastly pursued a premium brand strategy, delivered differentiated value based on local needs, optimized product mix and global supply chain network, built a digital platform, and implemented strategy to maximize cost efficiency, thereby leading to a year-on-year increase in gross profit margin.

III. Operating Expenses Ratio

• 1. The selling expense ratio in the first three quarters of 2025 was 10.6%, representing an improvement of 0.1 percentage points as compared to the same period in 2024. In the domestic market, we advanced our digital reform and enhanced efficiency in marketing resource allocation, logistics and delivery, and warehouses operations, leading to a year-on-year improvement in selling expense ratio. In overseas markets, we drove innovation in end-retail operations across regions, integrated global resources, and leveraged digital tools to enhance both operational efficiency and quality, resulting in an year-on-year optimization in selling expense ratio.
• 1. The administrative expense ratio in the first three quarters of 2025 was 3.8%, remaining largely unchanged from the same period in 2024.
• 1. The financial expense ratio for the first three quarters of 2025 was -0.1% ("+" as expense, "-" as income), representing a decrease of 0.1 percentage points as compared to the same period in 2024, which was primarily attributable to increased foreign exchange gains resulting from the appreciation of currencies such as Euro.

IV. Working Capital

1. Trade and bill receivable turnover days

Trade and bill receivable turnover days were 45.7 days in the first three quarters of 2025, representing an increase of 1.0 days as compared to the end of 2024, mainly attributable to the increased scale of sales during the current period.

2. Inventory turnover days

Inventory turnover days were 70.4 days in the first three quarters of 2025, representing an enhancement of 2.6 days as compared to the end of 2024, mainly attributable to the effective control and optimization of the inventory.

1. Trade and bill payable turnover days

Trade and bill payable turnover days were 124.2 days in the first three quarters of 2025, representing a decrease of 6.5 days as compared to the end of 2024, mainly attributable to the optimization of payment strategy.

V. Cash Flow Analysis

• 1. Net cash flow from operating activities for the first three quarters of 2025 amounted to RMB17.491 billion, representing an increase of RMB3.064 billion as compared to the corresponding period of 2024, which was mainly due to enhanced operational efficiency for the current period.
• 1. Net cash outflow from investing activities for the first three quarters of 2025 amounted to RMB14.825 billion, representing an increase of RMB552 million as compared to the net cash outflow for the corresponding period of 2024, which was mainly due to an increase in cash payments for the purchase of wealth management products and long-term fixed deposits during the current period.
• 1. Net cash outflow from financing activities for the first three quarters of 2025 amounted to RMB13.585 billion, representing an increase of RMB4.416 billion as compared to net cash outflow for the corresponding period of 2024, which was mainly due to the repayment of borrowings and increase in external dividends for the current period.

VI. Capital Expenditure

The Company assesses its capital expenditure and investments in each segment from time to time. The capital expenditure in the first three quarters of 2025 was RMB6.578 billion, of which RMB3.466 billion and RMB3.112 billion were used in China and overseas, respectively, primarily for plant and equipment construction, property rental, and digital infrastructure.

VII. Gearing Ratio

The Company's gearing ratio was 56.5% as at the end of the first three quarters of 2025, representing a decrease of 2.6 percentage points as compared to the end of 2024, which was mainly due to the increase in net profit.

✓ Applicable ☐ Not applicable

Non-recurring profit or loss items	Amounts for the current period	Amounts from the beginning of the year to the end of the Reporting Period
Profit or loss from disposal of non-current assets, including write off of provision for impairment of assets	-17,924,404.92	-43,646,144.94
Government grants included in current profit or loss, except that closely related to the normal business operation, complied with requirements of the national policies, enjoyed in accordance with determined standards and have a continuous impact on the Company's profit or loss	231,250,693.16	742,415,983.65
Profit or loss from the change in fair value of financial assets and financial liabilities held by non-financial enterprises, and profit or loss arising from the disposal of financial assets and financial liabilities, other than the effective hedging business related to the Company's normal business operations	17,718,690.59	75,307,749.47
Net profit or loss of subsidiaries arising from business combinations under common control from the beginning of the period to the date of consolidation		3,593,306.97
Other non-operating income and expenses other than the above items	-40,084,283.33	-162,000,724.26
Less: amount of effect of income tax	31,928,928.87	102,115,845.55
Amount of effect of minority interests (after tax)	9,250,337.75	33,185,632.89
Total	149,781,428.88	480,368,692.45

Reasons shall be given with respect to the Company classifying the items not listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Issuing Their Securities to the Public – Non-recurring Profit or Loss as non-recurring profit or loss items with significant amounts, and classifying the non-recurring profit or loss items listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Issuing Their Securities to the Public — Non-recurring Profit or Loss as recurring profit or loss item.

□Applicable √Not Applicable

(III) Changes in major accounting data and financial indicators and reasons

□Applicable √Not Applicable

II. Particulars of Shareholders

(I) Total number of ordinary shareholders and the number of preferential shareholders with restored voting rights and the shareholdings of the top 10 shareholders

Unit: share

Total number of ordinary shareholders as of the end of the Reporting Period	190,587	Total number of preferential shareholders with restored voting rights as of the end of the Reporting Period (if any)			N/A
		Shareholdings of the top 10 shareholders (excluding shares lent through refinancing)
Name of shareholders	Nature of shareholders	Number of shares held	Percentage of shareholdings (%)	Number of shares held subject to trading moratorium	Pledged, marked or frozen Status	Number
HKSCC NOMINEES LIMITED	Foreign legal entity	2,313,404,393	24.66		Unknown

Haier COSMO Co., Ltd.	Domestic non state-owned legal entity	1,258,684,824	13.41	Nil
Haier Group Corporation	Domestic non state-owned legal entity	1,072,610,764	11.43	Nil
HCH (HK) INVESTMENT MANAGEMENT CO., LIMITED	Foreign legal entity	538,560,000	5.74	Nil
Hong Kong Securities Clearing Company Limited	Unknown	360,724,847	3.84	Nil
China Securities Finance Corporation Limited	Unknown	182,592,654	1.95	Nil
Qingdao Haier Venture & Investment Information Co., Ltd.	Domestic non state-owned legal entity	172,252,560	1.84	Nil
Qingdao Haichuangzhi Management Consulting Enterprise (Limited Partnership)	Domestic non state-owned legal entity	133,791,058	1.43	Nil
National Social Security Fund 113 Portfolio	Unknown	74,870,190	0.80	Nil
Industrial and Commercial Bank of China-SSE 50 ETF	Unknown	71,679,092	0.76	Nil

Shareholdings of the top 10 shareholders not subject to trading moratorium (excluding shares lent through refinancing)

	Number of listed shares not subject	Class and number of shares
Name of shareholders	to trading moratorium held	Class	Number
HKSCC NOMINEES LIMITED	2,313,404,393	Overseas listed foreign shares	2,313,404,393
Haier COSMO Co., Ltd.	1,258,684,824	RMB ordinary shares	1,258,684,824
Haier Group Corporation	1,072,610,764	RMB ordinary shares	1,072,610,764
HCH (HK) INVESTMENT MANAGEMENT CO., LIMITED	538,560,000	Overseas listed foreign shares	538,560,000
Hong Kong Securities Clearing Company Limited	360,724,847	RMB ordinary shares	360,724,847
China Securities Finance Corporation Limited	182,592,654	RMB ordinary shares	182,592,654
Qingdao Haier Venture & Investment Information Co., Ltd.	172,252,560	RMB ordinary shares	172,252,560
Qingdao Haichuangzhi Management Consulting Enterprise (Limited Partnership)	133,791,058	RMB ordinary shares	133,791,058
National Social Security Fund 113 Portfolio	74,870,190	RMB ordinary shares	74,870,190
Industrial and Commercial Bank of China-SSE 50 ETF	71,679,092	RMB ordinary shares	71,679,092

	(1) Haier COSMO Co., Ltd. is a holding subsidiary of Haier Group Corporation. Haier
	Group Corporation holds 51.20% of its equity. Each of Qingdao Haier Venture &
Explanation of associations or actions in	Investment Information Co., Ltd., HCH (HK) INVESTMENT MANAGEMENT CO.,
concert among the above shareholders	LIMITED and Qingdao Haichuangzhi Management Consulting Enterprise (Limited
	Partnership) is a party acting in concert with Haier Group Corporation;
	(2) The Company is not aware of the existence of any associations of other shareholders.
Explanation of the top 10 shareholders and
the top 10 shareholders not subject to
trading moratorium engaging in the	Nil
margin trading and short selling and
refinancing business (if any)

Note: (1) HKSCC NOMINEES LIMITED is the collective nominee account for the shareholders of H shares of the Company, which is the original data provided by China Hong Kong securities registration agency to the Company after consolidation of figures according to local market practices and technical settings, not representing the ultimate shareholder; (2)As of the end of the reporting period, the Company's repurchase account held a total of 68,920,970 shares.

Shareholders holding more than 5% of the shares, top 10 shareholders and top 10 holders of outstanding shares without selling restrictions participating in the lending of shares under the refinancing business

☐Applicable√ Not applicable

Changes compared to the previous period in top 10 shareholders and top 10 holders of outstanding shares without selling restrictions due to lending/returning under refinancing

☐Applicable √Not applicable

III. Miscellaneous

Other significant information regarding the Company's operations during the Reporting Period should be brought to the attention of investors

√ Applicable □Not Applicable

• (1) External guarantees: As at the end of the Reporting Period, the external guarantees provided by the Company and its subsidiaries were guarantees between the Company and its subsidiaries, the total balance of which amounted to RMB8.467 billion, accounting for 7.6% of the Company's latest audited net assets.
• (2) Foreign exchange derivative: As at the end of the Reporting Period, the aggregate balance of the Company's foreign exchange derivative transaction amounted to approximately US\$1.999 billion.
• (3) Entrusted wealth management: As at the end of the Reporting Period, the balance of the Company's entrusted wealth management amounted to RMB3.476 billion, including two parts: ①Temporary-idle funds wealth management by certain subsidiaries of the Company: Under the premise of ensuring sufficient capital for the principal operating activities and daily operations, some subsidiaries of the Company purchased some shortterm principal-guaranteed wealth management products and structured deposits from major commercial banks to improve the yield of temporarily-idle funds and the return for shareholders within the authority of the general manager's office meeting and under the condition of ensuring fund safety. As at the end of the Reporting Period, the balance of the entrusted wealth management amounted to RMB3.454 billion; ②Idle funds in the asset management account of the Employee Stock Ownership Plans: the asset management institution purchased cash products such as money funds according to the liquidity of the products with some idle funds in the asset management accounts of the Employee Stock Ownership Plans of the Company. The balance of cash products amounted to RMB22 million.
• (4) Repurchase of A Shares: On 27 March 2025, the Company convened the 13th meeting of the 11th session of the Board, which considered and approved the Resolution in Relation to the Repurchase Plan of a Portion of Public Floating A Shares of Haier Smart Home Co., Ltd., pursuant to which the Company is allowed to repurchase a portion of its A Shares by way of centralised bidding using the Company's own funds and/or self-

raised funds (including special loans for share repurchase, etc.). The repurchase price is no more than RMB40 per share and the proposed total repurchase amount is no more than RMB2.0 billion and no less than RMB1.0 billion. The period of this repurchase shall be within 12 months from the date the Board considered and approved the resolution of repurchase of shares. As at the end of the Reporting Period, the Company has repurchased a cumulative total of 40,482,500 A shares at a repurchase price of RMB1,016,824,165.24. For details, please refer to the monthly repurchase progress announcement of the Company.

IV. Quarterly Financial Statements

(I) Type of Audit Opinion

□Applicable √Not Applicable

(II) Financial Statements

CONSOLIDATED BALANCE SHEET

30 September 2025

Prepared by: Haier Smart Home Co., Ltd.

Items	30 September 2025	31 December 2024
Current assets:
Cash at bank and on hand	45,155,831,316.03	55,597,554,622.83
Provision of settlement fund
Funds lent
Financial assets held for trading	4,198,851,454.60	1,236,017,839.53
Derivative financial assets	113,827,944.31	142,709,716.91
Bills receivable	8,327,252,162.92	12,179,856,870.01
Accounts receivable	29,867,271,948.19	26,494,845,510.56
Financing receivables	1,374,808,853.36	412,922,615.25
Prepayments	2,313,457,200.35	2,378,144,459.47
Premiums receivable
Reinsurance accounts receivable
Reinsurance contract reserves receivable
Other receivables	3,729,480,039.17	3,601,357,495.02
Including: Interest receivable	565,676,310.96	771,591,076.67
Dividend receivable
Financial assets purchased under resale agreements
Inventories	42,347,409,108.08	43,189,855,697.96
Including: data resources
Contract assets	1,341,643,012.01	997,963,705.67
Assets held for sale
Non-current assets due in one year	5,875,552,393.69	1,439,758,652.55
Other current assets	5,100,907,575.54	4,443,274,038.03

Total current assets	149,746,293,008.25	152,114,261,223.79
Non-current assets:
Loans and advances granted
Debt investments	16,502,061,297.65	15,474,759,856.99
Other debt investments
Long-term receivables	133,790,467.34	224,724,107.31
Long-term equity investments	21,544,391,559.88	20,932,439,255.93
Investments in other equity instruments	5,648,289,700.21	6,073,680,870.82
Other non-current financial assets
Investment properties	650,043,932.54	246,161,259.83
Fixed assets	38,584,875,368.42	37,613,215,769.46
Construction in progress	5,517,827,126.15	5,686,050,990.48
Biological assets for production
Oil and gas assets
Right-of-use assets	6,034,462,447.92	5,841,869,564.36
Intangible assets	14,119,369,819.61	14,042,940,068.17
Including: data resources
Development cost	291,072,613.17	267,267,592.92
Including: data resources
Goodwill	27,599,923,180.77	27,384,007,599.06
Long-term prepaid expenses	587,687,636.40	598,216,433.64
Deferred income tax assets	2,086,153,419.85	2,477,206,492.36
Other non-current assets	2,469,777,201.44	1,759,556,893.63
Total non-current assets	141,769,725,771.35	138,622,096,754.96
Total assets	291,516,018,779.60	290,736,357,978.75
Current liabilities:
Short-term borrowings	16,129,439,071.27	13,784,367,443.93
Borrowings from central bank
Amounts due to banks and other financial institutions
Financial liabilities held for trading
Derivative financial liabilities	288,252,126.37	71,011,310.01
Bills payable	23,818,648,023.23	21,220,364,311.81
Accounts payable	51,254,310,709.68	54,665,277,420.32
Receipts in advance
Contract liabilities	4,154,968,981.77	10,865,337,767.67
Disposal of repurchased financial assets
Absorbing deposit and deposit in inter-bank market
Customer deposits for trading in securities
Amounts due to issuer for securities underwriting

Payables for staff's remuneration	4,666,668,700.12	5,057,260,277.99
Taxes payable	3,915,657,447.67	3,915,219,916.17
Other payables	21,262,551,304.02	21,746,135,764.08
Including: Interest payable
Dividend payable	1,373,409.41	14,082,609.41
Fees and commissions payable
Reinsurance Accounts payables
Liabilities held for sale
Non-current liabilities due within one year	10,058,672,676.51	16,530,040,461.37
Other current liabilities	1,275,664,417.00	1,899,945,460.39
Total current liabilities	136,824,833,457.64	149,754,960,133.74
Non-current liabilities:
Deposits for insurance contracts
Long-term borrowings	11,367,963,526.05	9,665,074,313.67
Bonds payable	3,500,000,000.00
Including: Preference shares
Perpetual bonds Lease liabilities	4,654,569,801.27	4,480,895,997.36
Long-term payables	136,671,551.51	188,220,056.59
Long-term payables for staff's remuneration	2,703,716,935.46	2,561,647,446.35
Estimated liabilities	2,420,886,110.95	2,386,261,752.92
Deferred income	1,356,028,123.29	1,252,216,590.03
Deferred income tax liabilities	1,609,138,236.45	1,547,287,169.00
Other non-current liabilities	85,851,694.94	98,073,333.45
Total non-current liabilities	27,834,825,979.92	22,179,676,659.37
Total liabilities	164,659,659,437.56	171,934,636,793.11
Owners' equity (or shareholders' equity):
Paid-in capital (or share capital)	9,382,913,334.00	9,382,913,334.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve	19,887,139,923.52	20,310,218,222.04
Less: treasury stock	4,260,797,739.25	3,510,728,776.44
Other comprehensive income	1,427,064,182.22	825,502,860.47
Special reserve
Surplus reserve	5,296,602,892.45	5,296,602,892.45
General risk provisions
Undistributed profits	87,843,283,904.40	79,474,366,234.70
Total equity attributable to owners (or shareholders) of the Parent Company	119,576,206,497.34	111,778,874,767.22

Minority shareholders' interests	7,280,152,844.70	7,022,846,418.42
Total owners' equity (or shareholders' equity)	126,856,359,342.04	118,801,721,185.64
Total liabilities and owners' equity (or shareholders' equity)	291,516,018,779.60	290,736,357,978.75

Person in charge of the Company: Li Huagang Person in charge of accounting function: Sun Jiacheng Person in charge of accounting department: Ying Ke

CONSOLIDATED PROFIT STATEMENT

January-September 2025

Prepared by: Haier Smart Home Co., Ltd.

Items	First Three Quarters of 2025 (January – September)	First Three Quarters of 2024 (January – September)
Ⅰ. Total operating revenue	234,053,617,957.34	212,805,485,073.14
Including: Operating revenue	234,053,617,957.34	212,805,485,073.14
Interest income
Insurance premiums earned
Fee and commission income
Ⅱ. Total cost of operations	213,979,207,997.81	195,293,323,617.63
Including: Operating cost	170,372,946,252.85	155,094,252,316.33
Interest expenses
Fee and commission expenses
Insurance withdrawal payment
Net payment from indemnity
Net provisions withdrew for insurance liability
Insurance policy dividend paid
Reinsurance cost
Taxes and surcharges	1,002,704,655.46	912,772,689.17
Selling expenses	24,847,892,008.45	22,814,688,626.83
Administrative expenses	8,793,916,575.47	8,111,847,299.37
R&D expenses	9,222,403,975.84	8,258,622,067.47
Financial expenses	-260,655,470.26	101,140,618.46
Including: Interest expenses	2,102,436,881.95	1,855,652,686.98
Interest income	1,332,806,153.07	1,443,652,474.80
Add: other income	1,162,307,510.50	942,808,690.04
Investment income (losses are represented by "-")	1,272,726,288.47	1,404,677,862.23
Including: Investment income of associates and joint ventures	1,147,009,543.80	1,324,925,332.00
Income generated from the derecognition of financial assets measured at amortized cost
Exchange gain (losses are represented by "-")
Gains on net exposure hedges (losses are represented by "-")

Income from changes in fair value (losses are represented by "-")	54,104,285.14	2,156,742.90
Loss on credit impairment (losses are represented by "-")	-134,535,418.18	-184,134,122.76
Loss on assets impairment (losses are represented by "-")	-895,095,531.45	-863,304,968.86
Gain from disposal of assets (losses are represented by "-")	-25,397,272.46	-3,716,162.70
III. Operating profit (losses are represented by "-")	21,508,519,821.55	18,810,649,496.36
Add: non-operating income	165,888,030.21	132,717,714.84
Less: non-operating expenses	341,855,433.46	127,576,626.02
IV. Total profit (total losses are represented by "-")	21,332,552,418.30	18,815,790,585.18
Less: income tax expense	3,490,702,401.82	3,104,045,813.41
V. Net profit (net losses are represented by "-")	17,841,850,016.48	15,711,744,771.77
(I) Classification by continuous operation
1. Net profit from continuous operation (net losses are represented by "-")	17,841,850,016.48	15,711,744,771.77
2. Net profit from discontinued operation (net losses are represented by "-")
(II) Classification by ownership of the equity	•
1. Net profit attributable to shareholders of the Parent Company (net losses are represented by "-")	17,372,697,304.12	15,148,238,900.50
2. Profit or loss attributable to minority shareholders (net losses are represented by "-")	469,152,712.36	563,505,871.27
VI. Other comprehensive income, net of tax	596,926,965.97	-1,473,272,416.53
(I) Other comprehensive income attributable to shareholders of the Parent Company, net of tax	602,268,518.71	-1,468,877,367.92
Other comprehensive income that cannot be reclassified into the profit or loss	-161,558,223.66	-126,449,806.16
(1) Changes arising from re-measurement of defined benefit plans	133,180,644.83	-6,105,881.72
(2) Other comprehensive income that cannot be transferred into profit or loss under equity method
(3) Changes in fair value of investments in other equity instruments	-294,738,868.49	-120,343,924.44
(4) Changes in fair value of credit risks of the enterprise
Other comprehensive income to be reclassified into the profit or loss	763,826,742.37	-1,342,427,561.76
(1) Other comprehensive income that can be transferred into profit or loss under equity method	-74,500,628.54	-61,756,258.36
(2) Changes in fair value of other debt investments
(3) Reclassified financial assets that are credited to other comprehensive income
(4) Credit impairment provision for other debt investments
(5) Reserve for cash flow hedging	-79,304,532.91	-28,646,984.30
(6) Exchange differences on translation of financial statements denominated in foreign currencies	917,631,903.82	-1,252,024,319.10
(7) Others		-
(II) Other comprehensive income attributable to minority shareholders, net of tax	-5,341,552.74	-4,395,048.61
VII. Total comprehensive income	18,438,776,982.45	14,238,472,355.24

(I) Total comprehensive income attributable to the owners of Parent Company	17,974,965,822.83	13,679,361,532.58
(II) Total comprehensive income attributable to the minority shareholders	463,811,159.62	559,110,822.66
Ⅷ. Earnings per share:
(I) Basic earnings per share (RMB/share)	1.89	1.64
(II) Diluted earnings per share (RMB/share)	1.87	1.63

For the business combinations under common control in the current period, the net profit of the parties consolidated before consolidation was: RMB3,593,306.97 and the net profit of the parties consolidated in the previous period was: RMB-6,208,883.49.

Person in charge of the Company: Li Huagang Person in charge of accounting function: Sun Jiacheng Person in charge of accounting department: Ying Ke

CONSOLIDATED CASH FLOW STATEMENT

January-September 2025

Prepared by: Haier Smart Home Co., Ltd.

Items	First Three Quarters of 2025	First Three Quarters of
	(January – September)	2024 (January – September)
I. Cash flow from operating activities:
Cash received from the sale of goods and rendering services	246,299,736,507.14	221,178,959,711.55
Net increase in customer and inter-bank deposits
Net increase in borrowing from the central bank
Net cash increase in borrowing from other financial institutes
Cash received from premiums under original insurance contract
Net cash received from reinsurance business
Net increase in deposits of policy holders and investment
Cash received from interest, fee and commissions
Net increase in placement from banks and other financial institutions
Net increase in cash received from repurchase operation
Net cash received from customer deposits for trading in securities
Refunds of taxes	2,037,928,814.90	1,519,839,581.37
Cash received from other related operating activities	2,773,793,556.64	2,466,952,355.98
Sub-total of cash inflows from operating activities	251,111,458,878.68	225,165,751,648.90
Cash paid on purchase of goods and services	171,839,709,710.83	155,850,486,081.57
Net increase in loans and advances of customers
Net increase in deposits in the PBOC and inter-bank
Cash paid for compensation payments under original insurance contract
Net increase in cash lent
Cash paid for interest, bank charges and commissions
Cash paid for insurance policy dividend
Cash paid to and on behalf of employees	26,522,074,264.63	23,568,148,792.59
Cash paid for all types of taxes	12,953,732,834.45	11,951,573,271.24
Cash paid to other operation related activities	22,304,815,375.96	19,368,166,149.43
Sub-total of cash outflows from operating activities	233,620,332,185.87	210,738,374,294.83

Net cash flow from operating activities	17,491,126,692.81	14,427,377,354.07
II. Cash flow from investing activities:
Cash received from recovery of investments	35,436,309,792.82	13,674,467,508.28
Cash received from return on investments	548,590,177.11	561,738,888.77
Net cash received from the disposal of fixed assets, intangible assets and other long-term assets	77,397,670.20	30,249,883.96
Net cash received from disposal of subsidiaries and other operating entities
Other cash received from investment activities	131,800,433.30
Sub-total of cash inflows from investing activities	36,194,098,073.43	14,266,456,281.01
Cash paid on purchase of fixed assets, intangible assets and other long-term assets	6,578,049,149.23	6,687,043,071.25
Cash paid for investments	44,291,738,349.93	21,852,345,741.26
Net increase in secured loans
Net cash paid on acquisition of subsidiaries and other operating entities
Other cash paid on investment activities	149,156,227.31
Sub-total of cash outflows from investing activities	51,018,943,726.47	28,539,388,812.51
Net cash flow from investing activities	-14,824,845,653.04	-14,272,932,531.50
III. Cash flow from financing activities:
Cash received from capital contributions	64,830,000.00	268,908,531.22
Including: Cash received from capital contributions by minority shareholders of subsidiaries
Cash received from borrowings	18,313,856,916.53	7,904,271,831.01
Cash received from issuance of bonds	3,500,000,000.00	-
Other cash received from financing activities	111,646,384.65	196,784,897.55
Sub-total of cash inflows from financing activities	21,990,333,301.18	8,369,965,259.78
Cash paid on repayment of loans	20,085,149,772.91	6,180,480,518.88
Cash paid on distribution of dividends, profits or repayment of interest expenses	10,864,689,988.72	9,316,987,939.20
Including: Dividend and profit paid to minority shareholders by subsidiaries
Other cash paid to financing activities	4,625,402,377.28	2,041,469,753.63
Sub-total of cash outflows from financing activities	35,575,242,138.91	17,538,938,211.71
Net cash flow from financing activities	-13,584,908,837.73	-9,168,972,951.93
IV. Effect of fluctuations in exchange rates on cash and cash equivalents	237,940,254.43	-360,312,497.04
V. Net increase in cash and cash equivalents	-10,680,687,543.53	-9,374,840,626.40
Add: balance of cash and cash equivalents at the beginning of the period	54,994,595,280.18	56,715,672,668.25
VI. Balance of cash and cash equivalents at the end of the period	44,313,907,736.65	47,340,832,041.85

Person in charge of the Company: Li Huagang Person in charge of accounting function: Sun Jiacheng Person in charge of accounting department: Ying Ke

BALANCE SHEET OF THE PARENT COMPANY

30 September 2025

Prepared by: Haier Smart Home Co., Ltd.

Items	30 September 2025	31 December 2024
Current Assets:
Monetary funds	4,820,288,911.28	8,721,089,765.37
Financial assets held for trading	2,523,739,388.89
Derivative financial assets
Bills receivable
Accounts receivable	2,986,009,776.28	2,089,263,590.36
Financing receivables
Prepayments	3,200,895.80	3,124,793.19
Other receivables	74,365,923,497.36	35,309,208,101.73
Including: Interests receivable	5,783,888.82	137,951,583.62
Dividends receivable	3,615,317,738.91	955,746,044.23
Inventories	12,882,065.85	9,092,410.78
Including: data resources
Contract assets
Assets held for sale
Non-current assets due within one year	323,625,000.00	1,105,291,666.67
Other current assets	1,004,670,920.21	174,671,080.16
Total current assets	86,040,340,455.67	47,411,741,408.26
Non-current assets:
Debt investments	8,583,844,578.90	7,243,616,935.47
Other debt investments
Long-term receivables
Long-term equity investments	64,597,907,159.40	62,193,654,756.17
Investments in other equity instruments	1,602,852,951.00	1,602,852,951.00
Other non-current financial assets
Investment properties
Fixed assets	112,908,303.16	131,874,644.27
Construction in progress	4,601,311.40	490,452.83
Biological assets for production
Oil and gas assets
Right-of-use assets
Intangible assets
Including: data resources	30,608,339.95	35,196,337.86
Development cost
Including: data resources
Goodwill
Long-term prepaid expenses	2,251,374.26	3,502,636.81

Deferred income tax assets
Other non-current assets	2,170,292,448.68	1,738,121,667.23
Total non-current assets	77,105,266,466.75	72,949,310,381.64
Total assets	163,145,606,922.42	120,361,051,789.90
Current liabilities:
Short-term borrowings	3,701,785,000.00	2,000,000,000.00
Financial liabilities held for trading
Derivative financial liabilities
Bills payable
Accounts payable	2,375,611,260.00	1,526,611,034.49
Receipts in advance
Contract liabilities	12,672,460.67	12,597,148.63
Payables for staff's remuneration	9,727,873.22	7,798,419.39
Taxes payable	5,593,225.54	884,572.31
Other payables	105,577,553,181.89	63,004,946,189.17
Including: Interests payable	2,165,333.33	1,234,444.45
Dividends payable
Liabilities held for sale
Non-current liabilities due within one year	1,908,211,250.00	1,495,350,000.00
Other current liabilities	23,733,298.13	18,881,166.43
Total current liabilities	113,614,887,549.45	68,067,068,530.42
Non-current liabilities:
Long-term borrowings	2,323,500,000.00	3,292,370,000.00
Bonds payable	3,500,000,000.00
Including: Preference shares
Perpetual bonds
Lease liabilities
Long-term payable
Long-term payables for staff's remuneration
Estimated liabilities
Deferred income	16,814,070.50	14,265,249.50
Deferred income tax liabilities	394,292,088.98	394,292,088.98
Other non-current liabilities
Total non-current liabilities	6,234,606,159.48	3,700,927,338.48
Total liabilities	119,849,493,708.93	71,767,995,868.90
Owners' equity (or shareholders' equity):
Paid-in capital (or share capital)	9,382,913,334.00	9,382,913,334.00
Other equity instruments
Including: Preference shares
Perpetual bonds
Capital reserve	25,519,156,008.53	25,680,561,451.57
Less: treasury stock	1,785,452,860.50	1,467,523,464.56

Other comprehensive income	675,788,147.41	618,368,749.67
Special reserve
Surplus reserve	4,691,456,667.00	4,691,456,667.00
Undistributed profits	4,812,251,917.05	9,687,279,183.32
Total owners' equity (or shareholders' equity)	43,296,113,213.49	48,593,055,921.00
Total liabilities and owners' equity (or shareholders' equity)	163,145,606,922.42	120,361,051,789.90

Person in charge of the Company: Li Huagang Person in charge of accounting function: Sun Jiacheng Person in charge of accounting department: Ying Ke

PROFIT STATEMENT OF THE PARENT COMPANY

January-September 2025

Prepared by: Haier Smart Home Co Ltd

Items	First Three Quarters of	First Three Quarters of
	2025 (January – September)	2024 (January – September)
I. Operating revenue	856,445,571.88	352,726,720.95
Less: operation cost	803,205,392.94	311,412,865.43
Taxes and surcharges	6,124,944.03	3,478,353.87
Selling expenses	9,113,714.70	6,926,799.13
Administration expenses R&D expenses	317,680,271.77 9,410,079.37	349,513,497.64 10,664,851.82
Financial expenses	-115,485,065.51	-283,992,131.88
Including: Interest expenses	150,788,701.57	80,703,465.36
Interest income	263,027,334.06	340,147,109.64
Add: other income	3,036,529.45	1,470,121.77
Investment income (losses are represented by "-")	4,284,906,094.60	601,130,398.38
Including: Investment income of associates and
joint ventures	265,086,002.54	247,558,504.74
Derecognition income on financial
assets measured at amortized cost
Gains on net exposure hedges (losses are
represented by "-")
Income from changes in fair value (losses are
represented by "-")	3,527,725.37
Loss on credit impairment (losses are represented	786,146.54	-1,138.93
by "-")
Loss on assets impairment (losses are represented by "-")
Gain from disposal of assets (losses are represented by "-")	-254,061.46
II. Operating profit (losses are represented by "-")	4,118,398,669.08	557,321,866.16
Add: non-operating income	273.65	3,053,172.00
Less: non-operating expenses	59,870.79	566,088.28
III. Total profit (total losses are represented by "-")	4,118,339,071.94	559,808,949.88
Less: income tax expenses

IV. Net profit (net losses are represented by "-")	4,118,339,071.94	559,808,949.88
(I) Net profit from continuous operation (net losses are	4,118,339,071.94	559,808,949.88
represented by "-")
(II) Net profit from discontinued operation (net losses
are represented by "-")
V. Other comprehensive income net of tax	57,419,397.74	40,883,608.66
(I) Other comprehensive income that cannot be
reclassified into the profit or loss
1. Changes arising from re-measurement of defined
benefit plans
2. Other comprehensive income that cannot be
transferred into profit or loss under equity method
3. Changes in fair value of investments in other equity
instruments
4. Changes in fair value of credit risks of the enterprise
(II) Other comprehensive income to be reclassified into
the profit or loss	57,419,397.74	40,883,608.66
1. Other comprehensive income that can be transferred
into profit or loss under equity method	57,419,397.74	40,883,608.66
2. Changes in fair value of other debt investments
3. Reclassified financial assets that are credited to
other comprehensive income
4. Credit impairment provision for other debt
investments
5. Reserve for cash flow hedging
6. Exchange differences on translation of financial
statements denominated in foreign currencies
7. Others
VI. Total comprehensive income	4,175,758,469.68	600,692,558.54
VII. Earnings per share:
(I) Basic earnings per share (RMB/share)
(II) Diluted earnings per share (RMB/share)

Person in charge of the Company: Li Huagang Person in charge of accounting function: Sun Jiacheng Person in charge of accounting department: Ying Ke

CASH FLOW STATEMENT OF THE PARENT COMPANY

January-September 2025

Prepared by: Haier Smart Home Co., Ltd.

Items	First Three Quarters of 2025 (January – September)	First Three Quarters of 2024 (January – September)
I. Cash flow from operating activities:
Cash received from the sale of goods and rendering of services	152,638,312.49	543,255,059.97
Refunds of taxes	3,291,819.49	3,228,214.96
Other cash received from operating activities	94,183,771.08	395,607,329.56
Sub-total of cash inflows from operating activities	250,113,903.06	942,090,604.49
Cash paid on purchase of goods and services	1,083,700.00	21,685,652.14
Cash paid to and on behalf of employees	26,013,672.68	198,082,464.49
Cash paid for all types of taxes	13,500,404.40	12,129,293.11
Other cash paid to operation activities	130,867,178.82	285,381,902.08
Sub-total of cash outflows from operating activities	171,464,955.90	517,279,311.82
Net cash flow from operating activities	78,648,947.16	424,811,292.67

II. Cash flow from investing activities:
Cash received from recovery of investments	26,232,000,000.00	12,192,000,000.00
Cash received from return on investments	113,585,665.78	104,631,623.28
Net cash received from the disposal of fixed assets, intangible assets and other long-term assets	138,465.00	74,850.43
Net cash received from disposal of subsidiaries and other operating entities
Other cash received from investment activities	1,726,172,255.14	394,843,059.54
Sub-total of cash inflows from investing activities	28,071,896,385.92	12,691,549,533.25
Cash paid on purchase of fixed assets intangible assets and other long-term assets	5,653,413.42	2,333,704.50
Cash paid for investments	30,937,581,069.26	22,905,600,557.00
Net cash paid on acquisition of subsidiaries and other operating entities
Other cash paid on investment activities	2,734,000,000.00	-
Sub-total of cash outflows from investing activities	33,677,234,482.68	22,907,934,261.50
Net cash flow from investing activities	-5,605,338,096.76	-10,216,384,728.25
III. Cash flow from financing activities:
Cash received from capital contributions
Cash received from borrowings	2,760,000,000.00	940,000,000.00
Cash received from issuance of bonds	3,500,000,000.00
Other cash received from financing activities	7,253,012,721.98	12,500,802,020.46
Sub-total of cash inflows from financing activities	13,513,012,721.98	13,440,802,020.46
Cash paid on repayment of borrowings	1,627,480,000.00	21,000,000.00
Cash paid on distribution of dividends, profits or interest expenses	9,119,149,631.71	7,594,505,785.69
Other cash paid on financing activities	1,137,427,437.94	491,581,396.89
Sub-total of cash outflows from financing activities	11,884,057,069.65	8,107,087,182.58
Net cash flow from financing activities	1,628,955,652.33	5,333,714,837.88
IV. Effect of fluctuations in exchange rates on cash and	-3,067,356.82	21,823,495.09
cash equivalents
V. Net increase in cash and cash equivalents	-3,900,800,854.09	-4,436,035,102.61
Add: balance of cash and cash equivalents at the beginning of the period	8,721,089,765.37	7,579,640,524.79
VI. Balance of cash and cash equivalents at the end of the period	4,820,288,911.28	3,143,605,422.18

Person in charge of the Company: Li Huagang Person in charge of accounting function: Sun Jiacheng Person in charge of accounting department: Ying Ke

The adjustments of the relevant items of the financial statements at the beginning of the year due to the first implementation of new accounting standards or interpretations to accounting standards since 2025

□Applicable √Not Applicable

The Board of Haier Smart Home Co., Ltd. 30 October 2025 This announcement is published in both Chinese and English. Should there be any inconsistency between the Chinese and English versions, the Chinese version shall prevail.

By order of the Board Haier Smart Home Co., Ltd.* LI Huagang Chairman

Qingdao, the PRC 30 October 2025

As at the date of this announcement, the executive Directors of the Company are Mr. LI Huagang and Mr. Kevin Nolan; the non-executive Directors are Mr. GONG Wei, Mr. YU Hon To, David, Mr. CHIEN Da-Chun and Mr. LI Shaohua; the independent nonexecutive Directors are Mr. WONG Hak Kun, Mr. LI Shipeng, Mr. WU Qi and Mr. WANG Hua; and the employee representative Director is Ms. SUN Danfeng.

^* For identification purpose only