Robam Appliances has initiated a board renewal after delivering its worst annual report since listing. Founder Ren Jianhua did not appear on the list of candidates for the seventh board of non-independent directors, while his son, current vice chairman and general manager Ren Fujia, leads the list. The company's sixth board term is about to expire, and the seventh board is proposed to consist of nine directors, including five non-independent directors, three independent directors, and one employee representative director. Following board nomination and qualification review, Ren Fujia, He Yadong, Wang Gang, Zhou Haixin, and Ge Hao have been nominated as non-independent director candidates, while Zheng Xiaolin, Yu Lieming, and Cheng Zhiyong have been nominated as independent director candidates. This renewal still requires approval at the first extraordinary general meeting of 2026, with director terms lasting three years from the date of approval. Robam Appliances reported full-year 2025 revenue of 10.116 billion yuan, down 9.78 percent year-on-year, and net profit attributable to shareholders of 1.256 billion yuan, down 20.38 percent year-on-year, marking the first annual revenue decline since listing and a net profit drop exceeding 20 percent. In the first quarter of 2026, revenue was 1.963 billion yuan and net profit attributable to shareholders was 307 million yuan, down 5.46 percent and 9.82 percent year-on-year respectively. Among traditional categories, range hood revenue was 4.985 billion yuan, down 8.62 percent; gas stove revenue was 2.506 billion yuan, down 9.76 percent; integrated stove revenue was 139 million yuan, down 57.56 percent; dishwasher revenue was 680 million yuan, down 14.10 percent; and engineering channel revenue was 1.075 billion yuan, down 35.84 percent. Ren Fujia's annual salary for 2025 dropped from 1.3941 million yuan to 669,600 yuan, a decline of 51.97 percent, while executives such as He Yadong and Zhou Haixin also saw significant pay cuts.
Hangzhou Robam Appliances Co LtdWorst annual report since listing with revenue and profit declines, and founder stepping down amid board renewal.