CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Stock Code: 000521 200521 Stock Abbreviation: Changhong Meiling Hongmeiling B

Announcement No.: 2025-025

Changhong Meiling Co. Ltd.The First Quarterly Report of 2025

The Company and whole members of the Board guarantee that the information disclosed is true accurate and

complete and there are no fictitious records misleading statements or material omissions carried in the Report.Important Note:

1. Board of Directors and the Supervisory Committee of Changhong Meiling Co. Ltd. (hereinafter referred to as

the Company) and its directors supervisors and senior executives should guarantee the reality accuracy and

completion of the quarterly report there are no any fictitious statements misleading statements or important

omissions carried in this report and shall take legal responsibilities individual and/or joint.

2. Mr. Wu Dinggang Person in charge of the Company Mr. Pang Haitao head of accounting and Mr. Hu Xiangfei

person in charger of accounting organ (accounting officer) hereby confirm that the financial information of this

Quarterly Report is authentic accurate and complete.

3. The first quarterly report audited or not

□Yes √No

I. Main financial data

(i) Main accounting data and financial indexes

Whether it has retroactive adjustment or re-statement on previous accounting data or not

√Yes□No

Retroactive adjustment or restatement

□Changes in accounting policies □Correction of accounting errors

1CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

√Mergers under the same control □Other reason

Changes of this

Same period of last year period over same

Current Period period of last year

Before adjustment After adjustment After adjustment

Operating income (RMB)

7360074545.635940062392.735945935887.1323.78%

Net profit attributable to

shareholders of the listed company

181668589.37155536230.57155384850.5316.92%

(RMB)

Net profit attributable to

shareholders of the listed company

after deducting non-recurring gains 173774809.05 185949135.46 185230406.97 -6.18%

and losses (RMB)

Net cash flow arising from

operating activities (RMB) -1285257080.53 -114083183.60 -116980056.07 -998.70%

Basic earnings per share

(RMB/Share) 0.1764 0.1510 0.1509 16.90%

Diluted earnings per share

(RMB/Share) 0.1764 0.1510 0.1509 16.90%

0.31 percentage

Weighted average ROE

2.94% 2.64% 2.63% points up

Changes of this

End of last period period-end over

End of this period same period-end of

last year

Before adjustment After adjustment After adjustment

Total assets (RMB)

25854658504.2023972603896.4823972603896.487.85%

Owners’ equity attributable to

shareholders of listed company

6272578251.626085800940.386085800940.383.07%

(RMB)

Note: In October 2024 the Company acquired 99% of the equity of Hefei Changhong Industrial Co. Ltd.(hereinafter referred to as "Hefei Industrial") held by the controlling shareholder Sichuan Changhong

Electric Co. Ltd. with its own funds; Hefei Meiling IOT Technology Co. Ltd. a subsidiary acquired 1%

of the shares of Hefei Industrial held by Sichuan Changhong Innovation Investment Co. Ltd. a subsidiary

of Sichuan Changhong with its own funds. On November 20 2024 Hefei Industrial has completed the

industrial and commercial change registration procedures for the change of shareholders of the company

and obtained the "Registration Notice" issued by the Market Supervision and Administration Bureau of

Hefei Economic and Technological Development Zone Anhui Province. After the completion of the equity

transfer the Company holds 100% of the equity of Hefei Industrial. According to the relevant provisions of

the No. 33 Accounting Standard for Business Enterprises-Consolidated Financial Statement the parent

company shall adjust the opening number of the consolidated statement and at the same time shall adjust

the relevant items of the comparative statements due to the addition of subsidiaries and businesses due to

2CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

the business combination under the common control during the reporting period so as to treat the

consolidated reporting entity as having existed since the time when the ultimate controller began to control.Accordingly the opening numbers and the numbers of the same period of the previous year have been

restated.(ii)Items of non-recurring gains and losses

√ Applicable □ Not applicable

In RMB

Item Current amount Note

Gains/losses from the disposal of non-

current asset (including the write-off that

-24476.32

accrued for impairment of assets)

Governmental subsidy calculated into

current gains and losses(while closely

related with the normal business of the

Company the government subsidy that

accord with the provision of national 10283599.43 Mainly due to government subsidies.policies and are continuously enjoyed in

line with a certain standard quota or

quantity are excluded)

Gain and loss from change of the fair

value arising from transactional

monetary assets transactional financial

liabilities as held as well as the

Mainly due to the gains and losses

investment income arising from disposal

arising from the Company's irrevocable

of the transactional monetary assets

-2355451.72 orders changes in the fair value of

transactional financial liabilities and

foreign exchange contracts and disposals

financial assets available for sale

in the current period

excluding the effective hedging

transaction in connection with the

Company’s normal business

Switch back of the impairment for

receivables that has impairment test

1465720.36

independently

Other non-operating income and

expenses other than the above 898681.98

Less: impact on income tax

1106378.86

Impact on minority shareholders’ equity

(post-tax) 1267914.55

Total

7893780.32--

Details of other profit and loss items that meet the non-recurring profit and loss definition

□ Applicable √ Not applicable

There are no other gains/losses items that meet the definition of non-recurring gains/losses in the Company.

3CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Explain the items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss

in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public -

-- Extraordinary Profit/loss

□ Applicable √ Not applicable

There are no items defined as recurring profit (gain)/loss according to the lists of extraordinary profit (gain)/loss

in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public -

-- Extraordinary Profit/loss.(iii)Particulars about material changes in items of main accounting statement and financial index and

explanations of reasons

√ Applicable □Not applicable

1.Changes and reasons of item in balance sheet

In RMB

Changes

Item Ending balance Opening balance Reasons of changes

ratio

Mainly due to the purchase of wealth

Trading financial

1645801658.39 - - management products by the Company

assets

in the current period.Mainly due to the non cancelable

Derivative financial orders and change of the fair value of

44318426.5272010074.43-38.46%

assets forward foreign exchange contract

changes

Account receivable Mainly due to the increase in sales

2773540197.771527978374.4881.52%

during the current period

Mainly due to the increase in the

Inventory

5113136778.71 3514968009.34 45.47% Company's sales stock in the current

period

Mainly due to the transfer of the

Contract assets

1316234.32 2763866.97 -52.38% Company's contract assets to accounts

receivable in the current period

Non-current asset Mainly due to the reclassification of the

due within one year 92047032.34 60242921.84 52.79% Company's debt investment to maturity

within one year

Mainly due to the increase in the

Short-term loans 1137062924.65 766747286.01 48.30% Company's bank borrowings in the

current period

Mainly due to the non cancelable

Derivative financial orders and change of the fair value of

86565625.20156359680.92-44.64%

liabilities forward foreign exchange contract

changes

Mainly due to the increase in relevant

taxes and fees due to the increase in the

Other current assets 33199590.86 23824389.50 39.35%

Company's advance receipts in the

current period

2.Changes and reasons of item in profit statement

4CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

In RMB

Item Current period Amount at the

Changes

same period of Reasons of changes

ratio

last year

Mainly due to the increase in the scale of

Administration the Company and the increase in

96394611.3373238839.4431.62%

expenses management expenses in the current

period

Mainly due to the YOY decrease in the

Financial expenses -7929626.86 -42123234.68 81.18% Company's interest income and the YOY

increase in foreign exchange losses

Mainly due to the YOY increase in the

Investment earnings delivery loss of the Company's forward -7636637.23 4806025.95 -258.90%

foreign exchange contracts in the current

period

Mainly due to the gains and losses arising

Gains on changes in fair from the Company's irrevocable orders

value 47529054.02 -36212338.39 231.25% changes in the fair value of foreign

exchange contracts and disposals in the

current period

Mainly due to the YOY increase in the

Credit impairment loss provision for impairment losses of the

-26670633.00636701.654288.87%

Company's accounts receivable in the

current period

Mainly due to the YOY increase in the

Loss of asset

-48763745.14 -10212156.71 377.51% provision for inventory falling price of

impairment

the Company in the current period

Mainly due to the Company's provision

Non-operating expenses for plant relocation expenses in the same

130434.823095653.52-95.79%

period last year and there is no such in the

current period

3.Changes and reasons of item in cash flow statement

In RMB

Item Current period Amount at the

Changes

same period of last Reasons of changes

ratio

year

Mainly due to the YOY increase

Tax refund received in export tax rebates and VAT

444838571.60256947465.7273.12%

credit refunds received by the

Company in the current period

Other cash received

Mainly due to the YOY increase

concerning operation

18889677.59 13879674.97 36.10% in rental income received by the

activities

Company in the current period

Cash paid for purchasing

Mainly due to the YOY increase

commodities and receiving

7558032416.67 5180479369.78 45.89% in the Company's purchase

labor service

payments in the current period

Mainly due to the YOY increase

in the value-added tax paid by

Taxes paid 148508468.23 95666144.78 55.24%

the Company in the current

period

Other cash paid concerning Mainly due to the YOY increase

operating activities 249779454.30 186744065.20 33.75% in various expenses paid by the

Company in the current period

5CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Item Current period Amount at the

Changes

same period of last Reasons of changes

ratio

year

Mainly due to the YOY increase

Cash received from

in the income of the Company's

recovery of investment 4684238472.00 100000000.00 4584.24% wealth management products in

the current period

Mainly due to the YOY increase

Cash received from

in the income of the Company's

absorbing investment 5317616.45 2535371.20 109.74% wealth management products in

the current period

Cash paid for purchasing Mainly due to the YOY increase

in the Company's acquisition

fixed intangible and other

100171495.72 75706154.21 32.32% and construction of fixed assets

long-term assets and intangible assets in the

current period

Mainly due to the YOY increase

Cash paid for investment in the income of the Company's

6170145888.89980000000.00529.61%

wealth management products in

the current period

Mainly due to the delivery loss

Other cash paid concerning of the Company's forward

investing activities 63622201.24 - - foreign exchange contracts and

the payment of project bid

deposits

Mainly due to the YOY increase

Cash received from loans in bank borrowings obtained by

1160618410.98560575979.93107.04%

the Company in the current

period

Mainly due to the YOY increase

Other cash paid concerning

in the financing by the discount

financing activities 350850007.60 41743739.56 740.49%

of the Company's bills in the

current period

Mainly due to the YOY increase

Cash paid for settling debts in the Company's repayment of

790638439.12448206057.4876.40%

bank borrowings in the current

period

Mainly due to the YOY increase

Other cash paid concerning in restrictions of the Company

financing activities 143460695.94 20449577.40 601.53% guarantee deposits in the current

period

Mainly due to the change of

Effect of exchange rate

2288462.86-432457.38629.18%

changes on cash exchange rate in the Period

II. Shareholders

(i)Total number of common shareholders and preference shareholders with voting rights recovered and

top ten shareholders

In Shares

Total number of common

Total preference shareholders with voting rights recovered at

shareholders at the end of report 76065 0

end of reporting period (if applicable)

period

Top ten shareholders(Excludes shares lent through refinancing)

6CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Information of shares

pledged tagged or

Proportion

Nature of Amount of Amount of lock- frozen

Shareholder’s name of shares

shareholder shares held up shares held

held State of

Amount

share

State-owned legal

Sichuan Changhong Electric Co. Ltd.person 24.12% 248457724 0 - --

Overseas Legal

HKSCC 3.53% 36357070 0 - -

person

Domestic non-

The National Social Security Fund 101

state-owned legal 3.15% 32423661 0 - -

portfolio

person

Overseas Legal

CHANGHONG (HK) TRADING LIMITE 2.63% 27077797 0 - -

person

Hefei Industry Investment Holding (Group) State-owned legal

1.83%188648960--

Co. Ltd. person

Overseas natural

CAOSHENGCHUN 1.43% 14766086 0 - -

person

Industrial Bank－Southern Xingrun value one- Domestic non-

year holding period of hybrid securities state-owned legal 0.95% 9751953 0 - -

investment fund person

Domestic non-

ICBC－South Excellent Growth Stock

state-owned legal

Securities Investment Fund 0.85% 8783600 0 - -

person

Foreign legal

PHILLIP SECURITIES（HK）LIMITED 0.61% 6296913 0 - -

person

Domestic natural

Qian Guanghai 0.59% 6101274 0 - -

person

Top ten shareholders with unrestricted shares held(Excluding shares lent through refinancing and Top management lock-in stock)

Type of shares

Shareholder’s name Amount of unrestricted shares held

Type Amount

Sichuan Changhong Electric Co. Ltd. 248457724 RMB ordinary shares 248457724

HKSCC 36357070 RMB ordinary shares 36357070

The National Social Security Fund 101 portfolio 32423661 RMB ordinary shares 32423661

Domestically listed

CHANGHONG (HK) TRADING LIMITE 27077797 27077797

foreign shares

Hefei Industry Investment Holding (Group) Co.

18864896 RMB ordinary shares 18864896

Ltd.Domestically listed

CAOSHENGCHUN 14766086 14766086

foreign shares

Industrial Bank－Southern Xingrun value one-year

9751953 RMB ordinary shares 9751953

holding period of hybrid securities investment fund

ICBC－South Excellent Growth Stock Securities

8783600 RMB ordinary shares 8783600

Investment Fund

Domestically listed

PHILLIP SECURITIES（HK）LIMITED 6296913 6296913

foreign shares

7CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Domestically listed

Qian Guanghai 6101274 6101274

foreign shares

Among the above shareholders CHANGHONG (HK) TRADING LIMITED (hereinafter referred to as Hong

Kong Changhong) is the wholly-owned subsidiary of Sichuan Changhong Electric Co. Ltd.; except the shares

of the Company directly held of the B shares of the Company 6296913 shares of B-stock are also held

through Phillip Securities (Hong Kong) Co. Ltd. the foregoing shareholders constitute persons of uniform

action. There existed no associated relationship or belong to the concerted actors as specified in the Measures

Explanation on associated

for the Administration of Information Disclosure of Shareholder Equity Changes of Listed Companies among

relationship among theSichuan Changhong Electric Co. Ltd Hong Kong Changhong and other top 7 shareholders（excludingaforesaid shareholders

PHILLIP SECURITIES（HK）LIMITED） The company neither knows whether there is any association

among other shareholders nor knows whether other shareholders belong to the persons acting in concert that isstipulated in the “Administrative Measures on Information Disclosure of Changes in Shareholding of ListedCompanies”.Explanation on top ten

shareholders involving

Not applicable

margin business (if

applicable)

Information of shareholders holding more than 5% of the shares the top 10 shareholders and the top 10

shareholders of unrestricted tradable shares participating in the lending of shares in securities lending and

borrowing business

□Applicable □Not applicable

The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared

with the previous period due to the securities lending/returning

□Applicable □Not applicable

(ii)Total number of preferred shareholders and shareholding of top 10 preferred shareholders by the end

of the report period

□ Applicable √Not applicable

III. Other important matters

√ Applicable □ Not applicable

Information index for temporary

Overview Date for disclosure

report disclosure

Passed by the resolution of the board of directors and the board of

supervisors of the Company it’s agreed that the Company will

simultaneously revise some clauses of Risk Management Plan by Changhong

Meiling Co. Ltd. for Deposit and Loan Financial Business in Sichuan

Changhong Group Finance Co. Ltd.in accordance of the "Notice on Juchao Website:

Regulating the Business Dealings between Listed Companies and Financial http://www.cninfo.com.cn

January 22025Companies of Enterprise Groups" (No. 48[2022] Zheng Jian Fa) （Announcement No.:2025-0012025-"Administrative Measures for Financial Companies of Enterprise Groups" 002 and 2025-003）

(Order No. 6 of 2022 of the China Banking and Insurance Regulatory

Commission) "Self-Regulatory Guidelines for Listed Companies on the

Shenzhen Stock Exchange No. 7 - Transactions and Related Party

Transactions (Revised in 2023)" and other relevant regulations.As of January 23 2025 Sichuan Hongyun Venture Capital Partnership

(Limited Partnership) has yet not completed the product filing and has not Juchao Website:

actually carried out external investment business and the Company has January 242025 http://www.cninfo.com.cn

received a total of RMB 18152000 of paid-in capital contributions and cash （Announcement No.:2025-004）

management income from such payment. In view of the fact that the fund's

8CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Information index for temporary

Overview Date for disclosure

report disclosure

expansion progress is not as expected it has been difficult to meet the initial

target of the fund. On January 23 2025 Sichuan Hongyun Venture Capital

Partnership (Limited Partnership) held the first interim general meeting of

partners in 2025 and unanimously agreed to terminate the operation of the

partnership dissolve the partnership establish a liquidation group to

terminate and liquidate the partnership and authorize the fund manager to

handle the liquidation and cancellation related matters.After the resolution of the board of directors of the Company it’s agreed that

the Company and its subsidiary Mianyang Meiling Refrigeration Co. Ltd.(hereinafter referred to as "Mianyang Meiling") invest a total of RMB 500

million with its own funds to the establishment of a subsidiary Mianyang

Changhong Smart Household Appliances Co. Ltd. (hereinafter referred to as

"Smart Household Appliances Company") of which the Company will invest Juchao Website:

RMB 495 million and hold 99% of the equity ratio and Mianyang Meiling http://www.cninfo.com.cn

March 182025will invest RMB 50 million and hold 1% of the equity ratio; In addition （Announcement No.:2025-0052 andSmart Home Appliances Company will participate in the bidding for an 2025-006）

industrial land located in Fuxin Community Songya Town Mianyang

Economic and Technological Development Zone Sichuan Province. The land

is for the construction of the Company's washing machine project with a

land area of about 136737.72 square meters (about 205.11 acres) and the

total authorized bidding price shall not exceed RMB 59.50 million/

IV. Quarterly financial statements

(i) Financial statement

1. Consolidate Balance Sheet

Prepared by Changhong Meiling Co. Ltd.In RMB

Item Ending balance Opening balance

Current assets:

Monetary fund

8303256462.1310492450750.61

Settlement provisions

Capital lent

Trading financial assets

1645801658.39

Derivative financial assets

44318426.5272010074.43

Note receivable

Account receivable

2773540197.771527978374.48

Receivable financing

1158902471.241516987953.83

Account paid in advance

60372463.6860352345.27

Insurance receivable

Reinsurance receivables

Contract reserve of reinsurance

receivable

9CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Other account receivable

109583312.99135391270.79

Including: Interest receivable

Dividend receivable

11849751.7012124951.70

Buying back the sale of financial assets

Inventory

5113136778.713514968009.34

Including：Data resources

Contractual assets

1316234.322763866.97

Assets held for sale

Non-current asset due within one year

92047032.3460242921.84

Other current assets

523838454.03562030362.98

Total current assets

19826113492.1217945175930.54

Non-current assets:

Loans and payments on behalf

Debt investment

1452987584.271474153793.17

Other debt investment

Long-term account receivable

Long-term equity investment

84311306.8181511146.82

Investment in other equity instrument

Other non-current financial assets

674073432.44676094304.44

Investment real estate

65939884.3166720850.69

Fixed assets

2220723738.312218850660.12

Construction in progress

113181218.7397807983.40

Productive biological asset

Oil and gas asset

Right-of-use assets

114627525.09113784190.78

Intangible assets 1010509217.13 994429966.05

Including：Data resources

Expense on Research and Development

80742299.4374710694.74

Including：Data resources

Goodwill

Long-term expenses to be apportioned

30018698.8833336772.23

Deferred income tax asset

165111570.23176953941.27

Other non-current asset

16318536.4519073662.23

Total non-current asset

6028545012.086027427965.94

10CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Total assets

25854658504.2023972603896.48

Current liabilities:

Short-term loans

1137062924.65766747286.01

Loan from central bank

Capital borrowed

Trading financial liability

Derivative financial liability

86565625.20156359680.92

Note payable

8542107991.027934125435.65

Account payable

7008895744.586132020588.41

Accounts received in advance

11432.1411085.70

Contractual liability

556834699.55609737871.24

Selling financial asset of repurchase

Absorbing deposit and interbank deposit

Security trading of agency

Security sales of agency

Wage payable

317289329.68389952777.46

Taxes payable

74948362.6395871539.98

Other account payable

1076978739.841031439412.53

Including: Interest payable

Dividend payable

6005989.726005989.72

Commission charge and commission

payable

Reinsurance payable

Liability held for sale

Non-current liabilities due within one

year 34014873.63 29135164.68

Other current liabilities

33199590.8623824389.50

Total current liabilities

18867909313.7817169225232.08

Non-current liabilities:

Insurance contract reserve

Long-term loans

Bonds payable

Including: Preferred stock

Perpetual capital securities

Lease liability

102388312.32101826405.91

11CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Long-term account payable

369174.54455409.20

Long-term wages payable

9776724.8910195289.45

Accrual liability

46967832.7345030417.22

Deferred income

119022365.46125435177.90

Deferred income tax liabilities

40415721.0044072593.30

Other non-current liabilities

Total non-current liabilities

318940130.94327015292.98

Total liabilities

19186849444.7217496240525.06

Owner’s equity:

Share capital

1029923715.001029923715.00

Other equity instrument

Including: Preferred stock

Perpetual capital securities

Capital public reserve

2750470215.392750470215.39

Less: Inventory shares

Other comprehensive income

-22264485.65-21222419.68

Reasonable reserve

27118961.4320968173.59

Surplus public reserve

502454071.02502454071.02

Provision of general risk

Retained profit

1984875774.431803207185.06

Total owner’ s equity attributable to

parent company 6272578251.62 6085800940.38

Minority interests

395230807.86390562431.04

Total owner’ s equity

6667809059.486476363371.42

Total liabilities and owner’ s equity

25854658504.2023972603896.48

Legal Representative: Wu Dinggang

Person in charge of accounting works: Pang Haitao

Person in charge of accounting institute: Hu Xiangfei

2. Consolidated Profit Statement

In RMB

Item Current period Last period

I. Total operating income

7360074545.635945935887.13

Including: Operating income

7360074545.635945935887.13

12CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Interest income

Insurance gained

Commission charge and commission income

II. Total operating cost

7153061808.065754750714.50

Including: Operating cost

6489256428.275176629809.01

Interest expense

Commission charge and commission expense

Cash surrender value

Net amount of expense of compensation

Net amount of withdrawal of insurance contract reserve

Bonus expense of guarantee slip

Reinsurance expense

Tax and extras

26909661.9827861641.26

Sales expense

397393048.13386719055.20

Administrative expense

96394611.3373238839.44

R&D expense

151037685.21132424604.27

Financial expenses

-7929626.86-42123234.68

Including: Interest expenses

5315614.006712613.15

Interest income

36935388.9948799974.81

Add: other income

36739447.5130629376.37

Investment income

-7636637.234806025.95

Including: Investment income on affiliated company and joint

venture 2852607.47 6580724.07

The termination of income recognition for financial assets measured

by amortized cost -2043924.19 -589721.74

Exchange income

Net exposure hedging income

Income from change of fair value

47529054.02-36212338.39

Loss of credit impairment

-26670633.00636701.65

Losses of devaluation of asset (

-48763745.14-10212156.71

Income from assets disposal

36334.95

III. Operating profit (Loss is listed with “-”)

208210223.73180869116.45

Add: Non-operating income

1004640.481005750.57

Less: Non-operating expense

130434.823095653.52

IV. Total profit (Loss is listed with “-”)

209084429.39178779213.50

13CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Less: Income tax expense

22938798.9620289968.19

V. Net profit (Net loss is listed with “-”)

186145630.43158489245.31

(i) Classify by business continuity

1. Net profit from continuing operations (net loss listed with “-”)

186145630.43158489245.31

2. Net profit from termination of operations (net loss listed with “-”)

(ii) Classify by ownership

1.Net profit attributable to owner’s of parent company

181668589.37155384850.53

2.Minority shareholders’ gains and losses

4477041.063104394.78

VI. Net after-tax of other comprehensive income

-1065007.66-444448.87

Net after-tax of other comprehensive income attributable to owners

of parent company -1042065.97 -466317.69

(i) Other comprehensive income items which will not be reclassified

subsequently to profit of loss

1.Changes of the defined benefit plans that re-measured

2.Other comprehensive income under equity method that cannot be

transfer to gain/loss

3.Change of fair value of investment in other equity instrument

4.Fair value change of enterprise's credit risk

5. Other

(ii) Other comprehensive income items which will be reclassified

subsequently to profit or loss -1042065.97 -466317.69

1.Other comprehensive income under equity method that can transfer

to gain/loss

2.Change of fair value of other debt investment

3.Amount of financial assets re-classify to other comprehensive

income

4.Credit impairment provision for other debt investment

5.Cash flow hedging reserve

6.Translation differences arising on translation of foreign currency

financial statements -1042065.97 -466317.69

7.Other

Net after-tax of other comprehensive income attributable to minority

shareholders -22941.69 21868.82

VII. Total comprehensive income

185080622.77158044796.44

Total comprehensive income attributable to owners of parent

Company 180626523.40 154918532.84

Total comprehensive income attributable to minority shareholders

4454099.373126263.60

VIII. Earnings per share:

14CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

(i) Basic earnings per share 0.1764 0.1509

(ii) Diluted earnings per share 0.1764 0.1509

Enterprise combine under the same control in the Period the combined party realized net profit of 0.00 Yuan

before combination and realized 0.00 Yuan at last period for combined party.Legal Representative: Wu Dinggang

Person in charge of accounting works: Pang Haitao

Person in charge of accounting institute: Hu Xiangfei

3. Consolidated Cash Flow Statement

In RMB

Item Current period Last period

I. Cash flows arising from operating activities:

Cash received from selling commodities and providing labor services

6854635238.765620455677.13

Net increase of customer deposit and interbank deposit

Net increase of loan from central bank

Net increase of capital borrowed from other financial institution

Cash received from original insurance contract fee

Net cash received from reinsurance business

Net increase of insured savings and investment

Cash received from interest commission charge and commission

Net increase of capital borrowed

Net increase of returned business capital

Net cash received by agents in sale and purchase of securities

Write-back of tax received

444838571.60256947465.72

Other cash received concerning operating activities

18889677.5913879674.97

Subtotal of cash inflow arising from operating activities

7318363487.955891282817.82

Cash paid for purchasing commodities and receiving labor service

7558032416.675180479369.78

Net increase of customer loans and advances

Net increase of deposits in central bank and interbank

Cash paid for original insurance contract compensation

Net increase of capital lent

Cash paid for interest commission charge and commission

Cash paid for bonus of guarantee slip

Cash paid to/for staff and workers

647300229.28545373294.13

15CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Taxes paid

148508468.2395666144.78

Other cash paid concerning operating activities

249779454.30186744065.20

Subtotal of cash outflow arising from operating activities

8603620568.486008262873.89

Net cash flows arising from operating activities

-1285257080.53-116980056.07

II. Cash flows arising from investing activities:

Cash received from recovering investment

4684238472.00100000000.00

Cash received from investment income

5317616.452535371.20

Net cash received from disposal of fixed intangible and other long-

term assets 11422.55 95000.00

Net cash received from disposal of subsidiaries and other units

Other cash received concerning investing activities

41708691.2859204176.91

Subtotal of cash inflow from investing activities

4731276202.28161834548.11

Cash paid for purchasing fixed intangible and other long-term assets

100171495.7275706154.21

Cash paid for investment

6170145888.89980000000.00

Net increase of mortgaged loans

Net cash received from subsidiaries and other units obtained

Other cash paid concerning investing activities

63622201.24

Subtotal of cash outflow from investing activities

6333939585.851055706154.21

Net cash flows arising from investing activities

-1602663383.57-893871606.10

III. Cash flows arising from financing activities

Cash received from absorbing investment

Including: Cash received from absorbing minority shareholders’

investment by subsidiaries

Cash received from loans

1160618410.98560575979.93

Other cash received concerning financing activities

350850007.6041743739.56

Subtotal of cash inflow from financing activities

1511468418.58602319719.49

Cash paid for settling debts

790638439.12448206057.48

Cash paid for dividend and profit distributing or interest paying

6644576.906720779.16

Including: Dividend and profit of minority shareholder paid by

subsidiaries

Other cash paid concerning financing activities

143460695.9420449577.40

Subtotal of cash outflow from financing activities

940743711.96475376414.04

Net cash flows arising from financing activities

570724706.62126943305.45

IV. Influence on cash and cash equivalents due to fluctuation in

exchange rate 2288462.86 -432457.38

V. Net increase of cash and cash equivalents

-2314907294.62-884340814.10

16CHANGHONG MEILING CO. LTD.THE FIRST QUARTERLY REPORT OF 2025

Add: Balance of cash and cash equivalents at the period-begin

9976098734.118391177936.62

VI. Balance of cash and cash equivalents at the period-end

7661191439.497506837122.52

Legal Representative: Wu Dinggang

Person in charge of accounting works: Pang Haitao

Person in charge of accounting institute: Hu Xiangfei（ii）The Company started implementing the updated accounting standards commencing from 2025

and adjusted the relevant items in the financial statements at the beginning of the very year involved

in the initial implementation of the said standards

□Applicable √Not applicable

(iii) Audit report

Whether the First quarterly report has been audited or not

□Yes √ No

The First quarterly report of the Company has not been audited.Board of Directors of Changhong Meiling Co. Ltd.April 22 2025

17