Ticker:002508                        StockAbbrev.:RobamAppliances                AnnouncementNo.:2019-015
        HangzhouRobamAppliancesCO.,LTD.

              2018AnnualReportSummary

  I.ImportantNotes

  Thissummaryisextractedfromthefullannualreport.InordertofullyunderstandtheCompany'soperatingresults,

  financialstatusandfuturedevelopmentplan,investorsshouldreadthefullannualreportcarefullydisclosedonthemedia

  designatedbytheChinaSecuritiesRegulatoryCommission(CSRC).

  Statementofobjectionsbydirectors,supervisorsandseniormanagement
□Applicable√N/A

  Statement

  AlldirectorsoftheCompanypersonallyattendedtheboardmeetingtoreviewthisannualreport

  Notesofnon-standardauditopinion
□Applicable√N/A

  Theplanforthecommonstockprofitdistributionortheplanforconvertingreservedfundsintosharecapitalduringthe

  reportingperiodwasreviewedbytheboardmeeting
√Applicable□N/A
Whethertoconvertreservedfundsintosharecapital
□Yes√No

  TheCompany'scommonstockprofitdistributionplanreviewedandapprovedbytheboardmeetingis:basedon

  949,024,050shares,eightRMB(taxincluded)ofcashdividendsforevery10shareswillbedistributedtoall

  shareholders,and0bonusshare(taxincluded)willbesent,andnoreservedfundswillbetransferredtothesharecapital.

  Theplanforthedistributionofpreferredstockprofitsduringthereportingperiodisadoptedbytheboardofdirectors

  throughresolution.
□Applicable√N/A

  II.BasicSituationoftheCompany

  1.CompanyProfile

  StockAbbreviation              RobamAppliances      StockCode            002508

  StockExchangeforStockListing  ShenzhenStockExchange

    ContactPersonandContact            SecretaryoftheBoard            SecuritiesAffairsRepresentative

            Information

  Name                          WangGang                          ShenPingping

  ContactAddress                No.592,LinpingAvenue,Yuhang      No.592,LinpingAvenue,Yuhang

                                  EconomicDevelopmentZone,          EconomicDevelopmentZone,

                                  HangzhouCity,ZhejiangProvince,      HangzhouCity,ZhejiangProvince,

                                  China                              China

  Tel                            0571-86187810                      0571-86187810

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


  2.MainBusinessorProductIntroductionDuringtheReportingPeriod

    Dedicatedtocreatinganewqualitykitchenlifeformillionsoffamilies,theCompanytakesrootinthekitchenfieldand
focusesonthedevelopment,production,salesandcomprehensiveservicesofkitchenappliances,includingrangehoods,
stoves,disinfectioncabinets,steamovens,ovens,dishwashers,waterpurifiers,microwaves,integratedstoves,and
integratedsinks.After40yearsofdevelopmentandgrowth,theCompanyhaseclipsedpeersintermsofindustryhistory,
marketshareandproductionscale.TheCompanyhasrankedNo.1domesticallyfor21yearsforthesaleofrangehoods,andNo.1globallyforthesaleofrangehoodsforfourconsecutiveyears.

  3.MajorAccountingDataandFinancialIndicators

  (1)Majoraccountingdataandfinancialindicatorsinthepastthreeyears

  WhethertheCompanyneedstoretroactivelyadjustorrestatetheaccountingdataofthepreviousyears
□Yes√No

                                                                                                    Unit:RMB

                                                                      Increaseordecrease

                                      2018              2017        thisyearcompared        2016

                                                                        tothepreviousyear

    Operatingincome            7,424,885,274.14  7,017,397,057.99        5.81%        5,794,897,867.13

    Netprofitsattributableto

    shareholdersoflisted          1,473,579,665.62  1,461,213,518.63        0.85%        1,206,833,878.67

    companies

    Netprofitsattributableto

    shareholdersoflisted

    companiesthatdeductsnon-  1,390,626,550.21  1,406,448,536.49        -1.12%        1,147,130,266.62

    recurringgainsandlosses

    Netcashflowfromoperating  1,508,960,311.29  1,272,482,554.23        18.58%        1,545,448,492.32

    activities

    Basicearningspershare            1.55              1.54              0.65%              1.28

    (yuan/share)

    Dilutedearningspershare          1.55              1.54              0.65%              1.27

    (yuan/share)

    Weightedaveragereturnon        26.40%            31.66%            -5.26%            33.38%

    equity

                                                                          Increaseor

                                                                      decreaseattheend

                                                                          ofthisyear

                                  Attheendof2018  Attheendof2017  comparedtothe    Attheendof2016

                                                                      endoftheprevious

                                                                              year

    Totalassets                  9,455,361,508.83  7,926,615,151.63        19.29%        6,415,202,506.51

    Netassetsattributableto

    shareholdersoflisted          6,045,384,387.57  5,260,800,800.91        14.91%        4,128,555,130.62

    companies

  (2)Quarterlymajoraccountingdata

                                                                                                    Unit:RMB

                                    Firstquarter      Secondquarter      Thirdquarter      Fourthquarter

    Operatingincome            1,591,941,726.40    1,904,720,839.07  1,897,226,702.39  2,030,996,006.28

    Net  profits  attributable  to

    shareholders    of    listed  302,020,313.43      358,319,192.63    351,293,563.34    461,946,596.22

    companies

    Netprofitsattributableto

    shareholders  of  listed    253,208,679.16      343,256,485.65    336,073,868.06    458,087,517.34

    companiesthatdeductnon-

    recurringgainsandlosses


    Netcashflowfromoperating  558,743,862.18      563,044,165.80    78,122,615.75    309,049,667.56

    activities
Whethertheabovefinancialindicatorsortheirtotalnumberaresignificantlydifferentfromtherelatedfinancialindicators
intheCompany’sdisclosedquarterlyandsemi-annualreports
□Yes√No

  4.ShareCapitalandShareholders
(1)Numberofcommonstockholdersandpreferredstockholderswithvotingrightsrestoredandtheshareholdingconditionsofthetop10shareholders

                                                                                                      Unit:Share

                                            Totalnumberof                Total          Total

  Totalnumberofcommon          64,871  common            57,552  numberof  0numberof        0

  shareholdersattheendofthe              shareholdersat                preferred      preferred

  reportingperiod                            theendofthe                  shareholde    shareholders

                                            monthbefore                  rswith        whose

                                            thedisclosure                  voting          votingrights

                                            oftheannual                  rights          were

                                            report                        restoredat      restoredat

                                                                          theendof      theendof

                                                                          the            themonth

                                                                          reporting      beforethe

                                                                          period        disclosureof

                                                                                          theannual

                                                                                          report

                                    ShareholdingsoftheTop10Shareholders

                                ShareholdernatureSharehol                  Numberof    Pledgeorfreeze

        Shareholder                                          Numberof    shares

        name                                      ding      sharesheld    heldwith    Statusof  Amount
                                                    ratio                    limited      shares

                                                                              sales

                                                                              conditions

  RobamGroup.                  Domesticnon-    49.68%    471,510,000

                                  statelegalperson

  HongKongSecuritiesClearingCo.Overseaslegal  10.59%    100,523,784

  Ltd.                            person

  ChinaLifeInsuranceCo.,Ltd.-    Other

  Traditional-GeneralInsurance                      1.53%    14,474,717

  Products-005L-CT001

  ShenGuoying                  Domesticnatural  1.29%    12,240,000

                                  person

  ChinaLifeInsuranceCo.,Ltd.-    Other

  Dividend-IndividualDividend-                      1.05%      9,951,907

  005L-FH002

  HangzhouJinchuangInvestment  Domesticnon-    1.00%      9,451,985

  Co.,Ltd.                        statelegalperson

  ShenzhenGuoshiCapital

  ManagementCo.,Ltd.-Guoshi    Other            0.88%      8,311,165

  Capital-RobamAgentHolding

  Stage2StructuredPrivateEquity

  Fund

  BNPParibas-ownfunds          Overseaslegal    0.84%      7,994,993

                                  person

  HangzhouYinchuangInvestment  Domesticnon-    0.74%      7,020,000

  Co.,Ltd.                        statelegalperson

  ChinaConstructionBankCo.,      Other            0.66%      6,251,432

  Ltd.-AnxinValueSelectedStock

  SecuritiesInvestmentFund


  Descriptionoftheabove-mentionedshareholder      TheactualcontrolleroftheCompany'scontrollingshareholder

  associationorconcertedaction                    HangzhouRobamIndustryGroupCo.,Ltd.andtheshareholder

                                                    HangzhouJinchuangInvestmentCo.,Ltd.isMr.RenJianhua,

                                                    andthenaturalpersonshareholderShenGuoyingisthewifeof

                                                    RenJianhua.Theaboveshareholdershavethepossibilityof

                                                    actinginunison.

(2)Thetotalnumberofpreferredshareholdersandthetop10preferredshareholders'
shareholdingsoftheCompany
□Applicable√N/A

  Duringthereportingperiod,theCompanydidnothavepreferredstockholdersholdingshares.
(3)ThepropertyrightsandcontrolrelationshipbetweentheCompanyandtheactualcontrolleraredisclosedinblockdiagram

                                          RenJianhua

                  RobamGroup                                  Jinchuang

                                                                  Investment

                                        HangzhouRobam

                                        AppliancesCo.,Ltd.

  5.CorporateBond

  WhethertheCompanyhasbondspubliclyissuedandlistedonthestockexchangethathavenotexpiredorexpiredbut

  notpaidinfullonthedateofapprovaloftheannualreport

  No

  III.DiscussionaboutandAnalysisofBusinessOperation

  1.OverviewofBusinessOperationduringtheReportingPeriod

  Doesthecompanyneedtofollowthedisclosurerequirementsofspecialindustries?

  No

    In2018,themacro-economicsituationathomeandabroadwasverycomplicated,theimpactofrealestateregulationonthekitchenapplianceindustrybegantoshow,andtheentirekitchenapplianceindustrywasindepression.AccordingtotheCMMretailmonitoringreport,retailsalesofthreemainkitchenappliances,namelyrangehoods,stovesanddisinfection
cabinets,grewby-11.71%,-10.68%,and-20.08%respectivelyin2018,allshowingadeclinewhichwasrareinrecentyears.Facingthedevelopmentpressureofthewholeindustry,we,asaleadingenterpriseinthekitchenapplianceindustry,unitedtogetherandworkedhard.Theretailvolumeandsalesofourmainproductsobviouslyincreasedfasterthantheaverageoftheindustry,ensuringasteadygrowthofourperformance.Duringthereportingperiod,weachievedanoperatingincomeof7,424,885,274.14RMB,increasedby5.81%;andthenetprofitattributabletoshareholdersoflistedcompanieswas

1,473,579,665.62RMB,increasedby0.85%.AccordingtotheCMMretailmonitoringreport,uptotheendof2018,themarketsharesofretailvolumeandsalesofrangehoodswere19.76%and26.62%respectively,themarketsharesofretailvolume
andsalesofstoveswere17.56%and23.89%respectively,themarketsharesofretailvolumeandsalesofbuilt-insteam
ovenswere36.32%and33.80%respectively,andthemarketsharesofretailvolumeandsalesofbuilt-inmicrowavewere
35.03%and44.05%respectively,allofwhichcontinuedtobethelargestintheindustry.Themarketsharesofretailvolume
andsalesofbuilt-indisinfectioncabinetswere14.73%and23.22%respectively,rankingthesecondintheindustry;the
marketsharesofretailvolumeandsalesofbuilt-inovenswere27.65%and26.13%respectively,andthemarketsharesof
retailvolumeandsalesofbuilt-indishwasherswereboth9.29%,rankingthethirdintheindustry.

    In2018,themarketingsectionestablishedtheworkingprincipleof"AllforGrowth"andworkedtogethertoensuregrowthinthecompany’sperformance.Intermsofretail,whenfacingtheadversesituationinwhichKAinthefirst-andsecond-tier
citiesdecreased,weintensifiedtheexplorationinthethird-andfourth-tiercities.Specifically,weopened68newcity
companiesand535newexclusivestores.Bytheendof2018,wehave155citycompaniesand3,258exclusivestoresintotal.Intermsofinnovation,followingthedevelopmenttrendoftheindustry,wecooperatedwithsuchchannelsascabinetsand
homefurnishing,andestablishedstrategicpartnershipwithOppein,Suofeiya,Jia.com,DongyiRishengandsomeother
companies.Intermsofe-commerce,inthenewenvironmentofonlineshopping,wetimelyadjustedourproductstrategies,
optimizedthecostefficiency,andimprovedthequalityofoperation.Followingtheonlineandofflineintegration,wepromotednewretailmodes,andvitalizedexistingcustomers.Intermsofconstructionprojects,wecloselyfollowedthechangesofsuchstrategiccustomersasEvergrande,CountryGardenandVanke,mettheneedsofdifferentpremiseswithdifferentiated
products.Thecentralcleaningsystem,averyuniqueproduct,stronglyboostedourdevelopmentofstrategiccustomersinthechannelofrealestates.AccordingtotheAVCmonthlymonitoringdataofrealestatefinedecoration,themarketshareof
Robamrangehoodis40%,rankingthefirstintheindustry.Intheoverseasmarket,thepromotionmodewasbecoming
clearerandclearer,andwehavecoveredoftheAsian-Pacificregion,AustraliaandNewZealand.Thehigh-endimageofthe"Robam"brandhassuccessfullysettledintheseregions,andourinternationalinfluencehasbeeneffectivelyimproved.

    In2018,thetechnologysectionstrictlyimplementedthecompany’stechnology-drivendevelopmentstrategy,andmaderemarkableachievementsinnewproductdevelopment,breakthroughoftechnicalforms,efficiencyoftechnology
development,applicationoftechnologypre-researches,andpreparationofnationalstandards.Duringthewholeyear,we
appliedfor481patents,ofwhich106wereinventionpatents;obtained313patents,ofwhich9wereinventionpatents.We
gaveprioritytotheresearchofsteamovens,andestablishedtheculinaryexperiencecenterandthesteamcultureresearchinstitute.Weregarded"inheritingandpromotingChina’sexcellentculinaryandcookingculture,andmeetingtheChinese
people’sneedsforhigh-qualitylifeintermsofhealthynutritionandcookingefficiency"asourresponsibilityandmission,andfilledtheblankofsteamingintheresearchofcookingculture.Ourproductshavewonvariousawardsathomeandabroad.
Therangehood5610wonthreeawards,namely"ChineseDesignGoldAward","2018iFDesignAward"and"RedDot
DesignAward";rangehoods8231Sand8332,stove9B30C,disinfectioncabinet825andcentralcleaningsystemwonthe
"RedDotDesignAward".Rangehood5900SandovenR026wonthe"EplandAward�CProductAward"and"EplandAward�CDesignAward"respectively.

    In2018,theproductionsectionaimedtobeabenchmarkinthehomeappliancemanufacturingindustry,andoperatedinthreeorientations:"thebestsupplychainsystemintheindustry","thesupportingsystemwithleadingprocessandqualityintheindustry"and"amanufacturingplantwithefficientmanagement".ByimprovingtheA-levelcompliancerateofsuppliers
andtheleanmanagementofprocessandquality,theproductionsectioncontinuedtoimprovethequalityandcontrolofthe
wholeprocess;systematicallyestablishedtheprocurementcoststrategyandthesupplierdevelopment;builtkeycapacities,andcompletethecapacitybuildingofdishwasher,steamingovenandcentralcleaningsystem;promotedthedevelopmentofproductionandsalespunctualitysystem;deepenedtheimprovementofqualityandefficiencytopromoteleanproduction,andincreaseproductionefficiencyby23%.

    In2018,thebrandsectionproposedabrand-newbrandconceptof"CreateNewChineseKitchens",andinsistedon
creatingabrandimageofhigh-endandyouthfulcompanystrongintechnologies.Throughcooperationwithauthoritative
mediaagenciessuchasCCTV,People’sDailyandleadingTVstations,weheldthebestpositionforcommunication,andgotclosetoconsumerstopublicizeourupgradedimageinanall-roundwaythroughclosecooperationwithlocalTVstations,
printmedia,andlocaltransportationmedia(high-speedrail,airport,metro,etc.).Entertainmentmarketing,sportsmarketingandothermeanswereadoptedinourbrandmarketingactivitiestoallowyoungconsumerstohaveabetterunderstandingofourbrandcultureandimage.ThroughnamingtheNewYear’sEvepartyofDragonTV,andcooperatingwithpopularvarietyshows"BacktoField"and"ChineseRestaurant2",weintensifiedourbrandexposure;byvirtueofthehottopicoftheFIFA
WorldCup,weorganized"CookingWorldCupBanquet",whichbroughthighbrandexposureandrealizedin-depthinteractionwithconsumers;weadoptedtheinnovativemethodsofstarKOLtolaunchsuchtopicsas"Allcallout","Domesticfashion
productsinitiative","box-lunchseason",appliedscenarioandexperience-basedwaystobringbrandsandconsumerscloser,
andfurtherdeepentheimageofayouthfulbrand.Throughmulti-dimensionalonlineandofflineintegrationand
communications,wedeepenedconsumers’awarenessofthestrategicbrandupgradeofRobam,andconsolidatedourimageofaleadingbrandintheindustry.

    In2018,MQcompanyexpandeditschannelswiththeguidingideaof"consolidatingthepositionincountries,
implementingpilotprojectsincitiesandfurtherdevelopingintowns";andimprovedthematchingratioofnewcategorieswiththeproductpromotionmodelof"Focusonrangehoodsandstovesandsteadilyexpandnewcategories".In2018,weopened2,554newoutlets,ofwhich1,337areexclusivestores.Bytheendof2018,wehadatotalof92initialdistributors,257outletsinprovincialcapitals,1,025outletsincities,3,161outletsandexclusivestoresincountyseats,4,493outletsintownships,andover3,600modelcontactstationsintownshipsandvillages.Weupgradedourbrandmarketingagain,continuedtocarryouttheeffectiveactivityof"stir-fryfestival".Thecoverageofoutletswhichparticipatedinthisactivityincreasedfrom50%in2017to80%in2018.Wealsoorganizedstarmeetings,andduringtheDoubleElevenFestival,ourbrandambassadorNaYinghadface-to-faceinteractionswithconsumers.InJiangsu,Guangdong,Fujianandotherprovinceswhicharegreatcontributorstooursales,wedeliveredadvertisementsinprovincialTVstationsandhighways,whichhasgreatlyimprovedbrandpopularity.

    In2018,thecompanycontinuedtoreceiverecognitionintermsofitscorporategovernance,internalmanagement,growth,shareholderreturns,etc.Itwasawardedthe"2017TheMostRespectedPublicCompanybyInvestors"byChinaAssociationforPublicCompanies;the"BestBoardPrize",the"BestNewMediaOperationPrize",the"BestSecretaryoftheBoardPrize"ofthe9thSecurityTimesChinesePublicCompanyInvestorRelationsTianmaAward;CNR"2018ExcellenceAwardofMost
ReliablePublicCompanyforInvestors","The2ndChinaExcellentIRBestInformationDisclosureAward".Ourcompany’s
SecretaryoftheBoardwontheNewFortune"The14thGoldMedalforSecretaryofBoard",andenteredthe"HallofFame"
forwinningthisawardforfiveconsecutivetimes.

    In2018,thecompanymadeattemptsincapitaloperationandlong-termincentives.WeinvestedinandcontrolledKinde
IntelligentKitchenAppliances,whichwasourfirstattempttoenteranewcategorywithcapital.Thecompanycompletedthe
secondphaseofagentshareholdingplanandthe2018employeeshareholdingplan,furtherestablishedandperfectedthe
long-termincentivemechanism,andgreatlymobilizedtheenthusiasmofstakeholders.

  2.Isthereanymajorchangeinthemainbusinessduringthereportingperiod?
□Yes√No

  3.Overviewofproductswhichaccountformorethan10%oftherevenueorprofitofthecompany’s
  mainbusiness
√Applicable□N/A

                                                                                                    Unit:RMB

    Nameof                                    GrossProfit  Changesin      Changesin    ChangesinGross

    Product  OperatingIncome  OperatingCost    Margin      Operating    OperatingCost    ProfitMargin

                                                              Income

    Range  4,012,977,970.341,719,332,130.75  57.16%      5.00%          6.50%            -1.05%

      Hood

      Stove    1,792,008,723.86  803,819,821.76    55.14%      -1.65%          0.23%            -1.50%

  4.Isthereanyseasonalorperiodicalcharacteristicsintheoperationwhichneedsspecialattention?□Yes√No

  5.Presentationofmajorchangesinoperatingincome,operatingcost,totalamountorcomposition
  ofnetprofitsattributabletoshareholdersofcommonstockofpubliccompanyduringthereporting
  periodwhencomparedtothepreviousreportingperiod
□Applicable√N/A

  6.Conditionsofsuspensionandterminationoflisting
□Applicable√N/A


  7.Mattersrelatedtofinancialstatements
(1)Explanationofchangesinaccountingpolicy,accountingestimatesandaccountingmethods
whencomparedtothefinancialstatementsofthepreviousyear
√Applicable□N/A

    OnApril24,2019,the9thmeetingofthe4thBoardofDirectorsandthe9thmeetingofthe4thBoardofSupervisors
reviewedandapprovedthe"ProposalonImplementingNewAccountingStandardsandChangingRelevantAccounting
Policies".InviewofthattheMinistryofFinancereleasedthe"CircularonRevisingandIssuingtheFormatofFinancial
StatementsforOrdinaryEnterprisesin2018"(CaiKuai[2018]No.15)inJune2018,thecompanydecidedtoimplementtherevisedaccountingpoliciesbythetimerequiredbytheMinistryofFinance.Thischangeofaccountingpoliciesonlyinvolvesthepresentationandadjustmentoffinancialstatements,andhasnosubstantialimpactonthecompany’stotalassets,totalliabilities,netassets,operatingincome,andnetprofit.
(2)Explanationofratificationofmajoraccountingerrorinthereportingperiodwhichneedstobetrackedandrestated
□Applicable√N/A
Noratificationofmajoraccountingerrorinthereportingperiodwhichneedstobetrackedandrestated.
(3)Explanationofchangesinthescopeofcombinedfinancialstatementswhencomparedwith
financialstatementsofthepreviousyear
√Applicable□N/A

    Duringthereportingperiod,thecompanyacquired51%ofthesharesofShengzhouKindeIntelligentKitchenAppliancesCo.,Ltd.,withitsownfundsof160millionRMB,andKindewasincludedintothescopeofconsolidatedstatementsfromthisreportingperiod.
(4)Expectedoperatingperformanceinthefirstthreemonthsof2019
□Applicable√N/A