九阳股份:2021年半年度报告摘要（英文版）

Joyoung Co. Ltd. Abstract of the Semi-Annual report 2021
Ticker: 002242 Stock Abbreviation: Joyoung
Joyoung Co. Ltd.Abstract of the Semi-Annual Report 2021
Section I Important Statements
This is an abstract of the Semi-Annual Report 2021. Investors are kindly reminded to read the complete version of Semi-annual Report 2021
on the website which is designated by the China Securities Regulatory Commission to get complete information about operational results financial
statements and future plans of the Company.All directors attended the board meeting that reviewed the Semi-Annual Report.Modified Audit Opinion
□Applicable √ N/A
The preliminary plan for dividend distribution and converting capital reserves into share capital for common shareholders which were
considered and approved by the Board
□Applicable √ N/A
The preliminary plan for dividend distribution for preferred shares in the reporting period was approved by the Board
□Applicable √ N/A
Section II Company Profile
1. Company Information
Stock Abbreviation Joyoung Ticker 002242
Stock Exchange Where the
Shares of the Company are Shenzhen Stock Exchange
Listed
Contact Us Board Secretary Securities Representative
Name Xuning WANG (acting) Minxin MIAO
No.760 Yinhai Street Qiantang New District No.760 Yinhai Street Qiantang New District
Address
Hangzhou Zhejiang Province Hangzhou Zhejiang Province
Tel. 0571-81639093 0571-81639178
E-mail 002242@joyoung.com 002242@joyoung.com
2. Management's Discussion and Analysis
In the first half of this year the gross domestic product (GDP) was 53.22 trillion yuan up 12.7% year-on-year at comparable prices with a
two-year average growth of 5.3%. Under the strong leadership of the Party Central Committee and the government the epidemic prevention and
control economic and social development have been coordinated the domestic economy has continued to recover steadily and new results have
been achieved in high-quality development. However the current global epidemic continues to evolve the external environment is more complex
and severe the domestic economic recovery is still unstable and uneven coupled with the rapid rise in international commodity prices this year the
business efficiency of enterprises was under greater pressure and impact.Joyoung Co. Ltd. Abstract of the Semi-Annual report 2021
Pioneer in R&D and Smart Products with Focus on Mainstream Categories
In the first half of the year the company continued to focus on small household appliances and innovation in mainstream products and
inelastic categories by being customer-centric and demand-oriented and striving to maintain the stable development of gross margin of domestic
sales.The Joyoung brand is positioned in quality small appliances sector focusing on the launch of the HarmonyOS IoT Hand-wash-free High
Performance Blender Y521 Smart Charcoal Steel Rice Cooker F921 Crystal Diamond Rub-resistant Non-stick Wok Rexiaojin RO Cold and Hot
Water Purifier etc.; The Shark brand is positioned in household cleaning sector launched Vacmop V5 Steam Scrubber T21 etc. dedicated to
meet people's pursuit of a better and quality life.As a leading brand in the industry the Company has been able to capture new market demands and react quickly through continuous
technology and product innovation efficient digital user communication and product implementation and fast and accurate marketing strategies.Brand Communication-Channel Integration
The Company strives to achieve a comprehensive digital transformation realizing cross-border operations in different fields such as social
e-commerce online live streaming and new retail so as to seamlessly connect brands products and users. As Z generation gradually became the
mainstream consumer group in the new era the Company's brand positioning and communication methods have become youthful reaching the
target group with proactive and precise full-chain communication to improve the conversion rate along the chain.In the first half of the year the Company continued to actively layout and expand new channels online and offline coordinated the
development of traditional e-commerce and content e-commerce O2O new retail and lower tier markets grasped the opportunity in live streaming
that is on the rise focused on developing emerging platforms such as Tiktok and Kuaishou built one of the fastest powerful self-broadcast matrixes
in the industry. Offline channel focused on end shops. The Company opened nearly 200 high-end Shopping Mall stores and committed to building
a more comprehensive flexible and accurate O2O all-domain marketing operation system. The Company explored ways of operating in the
high-cost high-flow and high-value offline channels and comprehensively enhanced the main consumers’ awareness loyalty influence and
purchase intention of the brand.Relying on self-built digital center network the Company gradually improved digital operation actively adapted to the general trend of online
and offline omnichannel development explored the integration of online and offline development to the greatest extent diluted and blurred the
definition and division of traditional channels built omnichannel development strategy completed the closed loop of new retail O2O shopping
experience such as content feed offline experience online order nearby delivery and door-to-door service etc. drew consumers users and fans
closer together and accumulated valuable big data for future digital economic value.Lean into Blue Ocean while epidemic prevention and control normalized
Although the COVID-19 epidemic is still spreading around the world as the vaccination rate and personal protection awareness increases
the haze of the epidemic will eventually lift and all the good things will come as expected. In the "double-cycle" economic trend domestic small
household appliance innovation will continue to lead the global market. Under the influence of upgrading digital influence the competitive
advantage of enterprises will be converted from cost advantages to industrial chain advantages product advantages and efficiency advantages
etc..Learning from home appliance consumption history in developed countries we can see that as income levels rise household appliance
consumption transforms from functional consumption of large appliances to small household appliances. It is expected that the future of the small
home appliance industry will be stable and positive and the space for development is still large. As a leading domestic small household appliance
brand the Company will insist on innovation actively grasp the growth trend research and develop more new categories to meet market demands
enter into new areas such as cleaning appliances and devote to becoming a full category of high-quality small household appliance leader.3. Core Competence Analysis
During the reporting period there was no significant change in the core competence of the Company. The core competence of the Company
is mainly reflected in: The advantages of positioning mid-to-high-end all-category multi-brand; The nationwide online and offline sales network
especially the new retail channels represented by the operational advantages of Shopping Mall and content e-commerce; Taking insight into
Joyoung Co. Ltd. Abstract of the Semi-Annual report 2021
consumer needs and focusing on product advantages of core mainstream category innovation; Using digital middle platform to tap the value of big
data reinforcing the advantages of digital operation; For more details please refer to Joyoung’s 2020 Annual Report.4. Key Accounting Data and Financial Indicators
Whether the Company performed a retroactive adjustment to or restatement of accounting data
□Applicable √ N/A
H1 2021 H1 2020 Flux
Operating revenues (RMB Yuan) 4743532346.81 4558530041.84 4.06%
Net profits attributable to shareholders of the Company (RMB Yuan) 451454511.23 417767085.20 8.06%
Net profits attributable to shareholders of the Company before non-recurring
348957572.66 393051511.64 -11.22%
gains and losses (RMB Yuan)
Net cash flow from operating activities (RMB Yuan) -332426945.14 526790909.23 -163.10%
Basic earnings per share (RMB Yuan /share) 0.58 0.54 7.41%
Diluted earnings per share (RMB Yuan /share) 0.58 0.55 5.45%
Weighted average return on net assets 10.30% 10.71% -0.41%
30 June 2021 31 December 2020 Flux
Total assets (RMB Yuan) 8043698615.03 9134826691.51 -11.94%
Net assets attributable to shareholders of the Company (RMB Yuan) 3972050661.55 4283761519.10 -7.28%
5. Number of Shareholders of the Company and Their Shareholdings
Unit: share
Total number of common shareholders at the Total number of preferred shareholders with resumed voting
24801 0
end of the Reporting Period rights at the end of the Reporting Period (if any)
Top 10 common shareholders
Total shares Number of Pledged or frozen shares
Nature of Shareholding
Name of shareholder held at the restricted
shareholder percentage
period-end shares held Status Number
Domestic
Shanghai Lihong Enterprise Management
non-state-owned 50.12% 384523746 Pledged 307618897
Limited
corporation
Foreign
BILTING DEVELOPMENTS LIMITED 16.94% 129924090
corporation
Foreign
Hong Kong Securities Clearing Co. Ltd. 10.64% 81593136
corporation
State-owned
Central Huijin Investment Ltd. 2.61% 19986462
corporation
E Fund Management Co. Ltd. - Social
Others 1.41% 10789814
Insurance Fund Portfolio No. 1104
Basic Pension Insurance Fund Portfolio No.Others 1.27% 97214351001
Agricultural Bank of China - E Fund Consumer
Others 1.25% 9619185
Industry Equity Investment Fund
China Industrial Bank- ICBC Credit Suisse
Others 0.99% 7567709
Culture & Sports Industry Equity Fund
Bank of China - Da Cheng Preferred Selection
Others 0.73% 5613851
Hybrid Securities Investment Fund (LOF)
Chang Jiang Golden Sail No. 2 Equity Pension
Others 0.31% 2364179
Product- Bank of Communications
Related or acting-in-concert parties among In April 2019 the shareholding structure of Bilting Developments Limited changed. MR. Xuning
Joyoung Co. Ltd. Abstract of the Semi-Annual report 2021
shareholders above WANG the actual controller of the Company became the actual controller of Bilting
Developments Limited (See Report No. 2019-027 of the Company on www.chinainfo.com.cn. ).As a result Shanghai Lihong Enterprise Management Co. Ltd. and Bilting Developments Limited
both controlled by Mr. Xuning WANG are defined as acting-in-concert parties by the
Administrative Measures for the Takeover of Listed Companies.Other than the aforementioned related and acting-in-concert parties the Company is uncertain
about whether there are related or acting-in-concert parties among shareholders above.Explanation on common shareholders
participating in securities margin trading (if N/A
any)
6. Change in controlling shareholders or actual controllers
Change in controlling shareholder during the reporting period
□Applicable √ N/A
Change in actual controller during the reporting period
□Applicable √ N/A
7. Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings
□Applicable √ N/A
8. Relevant Information on Corporate Bonds
□Applicable √ N/A
Section III. Important Matters
None