CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Stock Code: 000521 200521 Notice No.: 2022-030

Short Form of the Stock: Changhong Meiling Hongmeiling B

Changhong Meiling Co. Ltd.The First Quarterly Report of 2022

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. Person in charge of the Company head of accounting and 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

Changes of this period over same

Current Period Same period of last year

period of last year

Operating income (RMB) 4012925239.44 4130121476.44 -2.84%

Net profit attributable to shareholders of the

5147648.235297826.42-2.83%

listed company (RMB)

Net profit attributable to shareholders of the

listed company after deducting non-recurring -22549982.34 -26469858.74 14.81%

gains and losses (RMB)

Net cash flow arising from operating activities

-1064503447.07-968522457.80-9.91%

(RMB)

Basic earnings per share (RMB/Share) 0.0050 0.0051 -1.96%

1CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Diluted earnings per share (RMB/Share) 0.0050 0.0051 -1.96%

Weighted average ROE 0.10% 0.11% 0.01 percentage points down

Changes of this period-end over

End of this period End of last period

same period-end of last year

Total assets (RMB) 15379389911.00 15190469756.33 1.24%

Owners’ equity attributable to shareholders of

4841375032.384837334400.210.08%

listed company (RMB)

(ii)Items of non-recurring gains and losses

√ Applicable □ Not applicable

Unit:RMB/CNY

Item Current amount NoteGains/losses from the disposal of non-current asset (including the Found in “Gains on disposal of

3689706.71write-off that accrued for impairment of assets) 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 23684763.58 Found in “Other income”

of national policies and are continuously enjoyed in line with a

certain standard quota or quantity are excluded)

Gains/losses of fair value changes arising from holding of the

trading financial asset trading financial liability and investment

earnings obtained from disposing the trading financial asset Found in “Investment earnings” and

3712111.38

trading financial liability and financial assets available for sale “Changes in fair value gains/losses”

except for the effective hedging business related to normal

operation of the Company”Found in “Non-operating income”

Other non-operating income and expenses other than the above 277431.84

“Non-operating expenditure”

Less: impact on income tax 3447932.10

Impact on minority shareholders’ equity (post-tax) 218450.84

Total 27697630.57 --

Details of other gains/losses items that meets the definition of non-recurring gains/losses:

□ Applicable √ Not applicable

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

2CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

(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 items in balance sheet

Unit:RMB/CNY

Changes

Item Ending balance Opening balance Reasons of changes

ratio

Mainly due to the purchase of financial products in

Trading financial assets 233166145.94 17997086.19 1195.58%

the Period

Mainly because the note receivable due for remittance

Note receivable 907242.87 2216752.22 -59.07%

in the Period.Account paid in Mainly due to the increase in prepayment for raw

42228271.8729766797.3441.86%

advance materials in the Period.Inventory 2270256051.70 1356357419.80 67.38% Mainly due to the increase in production in the Period

Mainly due to the warranties for new projects in the

Contract assets 1777252.62 - -

Period.Long-term expenses to Mainly due to the leasing of plant construction in the

140885.26--

be apportioned Period.Other non-current Mainly due to the absence of long-term prepayments

-3087780.59-100.00%

assets for construction in the Period

Mainly due to the increase in purchase of raw

Account payable 3332710063.99 2299103796.88 44.96%

materials in the Period

Mainly due to the decrease in advance receivables in

Contract liabilities 357443604.25 515004115.23 -30.59%

the Period

Taxes payable 60844916.80 141874861.88 -57.11% Mainly due to the payment of VAT in the Period

Mainly due to the cancellation of treasury shares in

Treasury shares - 26430571.38 -100.00%

the Period

2.Changes and reasons of items in profit statement

Unit:RMB/CNY

Item Current period Amount at the

Changes

same period of Reasons of changes

ratio

last year

Mainly due to the loss from foreign exchange in the same

Financial expenses -41364640.07 -1483821.14 -2687.71%

period of the previous year.Mainly due to the y-o-y increase in government subsidies in

Other income 26202120.61 13160582.16 99.10%

the Period

3CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Mainly due to the decrease in gains from settlement of

Investment earnings 7547051.46 31431230.42 -75.99%

forward foreign exchange contracts in the Period

Gains on changes in Mainly due to the changes in fair value of the forward

-1533990.67-17465727.4391.22%

fair value foreign exchange contract in the Period

Gains on disposal of Mainly due to the earnings from disposal of land assets in

3689706.71-132879.852876.72%

assets the Period

Non-operating Mainly due to the y-o-y decrease in liquidation of the

1073158.744126563.91-73.99%

income long-term debts in the Period

Non-operating Mainly due to the non-current assets scrapped losses in the

795726.90450581.5976.60%

expenditure Period

Mainly due to the taxable incomes declined in the Period

Income tax expenses -1669169.27 5426757.07 -130.76%

than the income tax expenses decreased.Gains/losses of Mainly due to the y-o-y increase in earnings from some of

8232999.116070032.9535.63%

minority’s interest the wholly-owned subsidiaries in the Period

3.Changes and reasons of items in cash flow statement

Unit:RMB/CNY

Item Current Amount at the

Changes

period same period of Reasons of changes

ratio

last year

Other cash received concerning Mainly due to the y-o-y increase in government

39337433.8120772768.0989.37%

operation activities subsidies received in the Period

Mainly due to the y-o-y increase in VAT payment

Taxes paid 132796426.52 81424772.89 63.09%

from subsidiary Meiling Group

Cash received from recovery of Partial recovery of investment in Hongyun Fund

1539824.00--

investment in the Period while none in the previous period

Received the dividends from associate and

Cash received from the acquisition of

11003504.00 - - Hongyun Fund in the Period while none in the

investment earnings

previous period

Net cash received from disposal of

fixed assets intangible assets and other 8304653.60 226967.80 3558.96% Mainly due to the y-o-y increase in assets disposal

long-term assets

Mainly due to the y-o-y decrease of financial

Cash paid for investments 220000000.00 1000000000.00 -78.00%

products procurement in the Period

Other cash paid concerning investment Mainly due to the y-o-y decrease in foreign

700.6724740.79-97.17%

activities exchange losses from subsidiaries in the Period

Mainly because subsidiary Life Appliances absorb

Cash received from absorption of

- 15000000.00 -100.00% minority equity investment in same period of last

investments

year while none in the current period

Cash received from borrowing 225000000.00 647079820.49 -65.23% Mainly due to the y-o-y decrease in borrowings in

4CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

the Period

Mainly due to the y-o-y decrease in repayment of

Cash paid for debt repayment 175000000.00 904900000.00 -80.66%

loans in the Period

Cash paid for distribution of dividends Mainly due to the y-o-y decrease in interest

10261148.4519467766.75-47.29%

profits or repayment of interests repayment in the Period

Other cash paid concerning financing Mainly due to the y-o-y decrease in repurchase

4144046.566339329.84-34.63%

activities payment for B-stock in the Period

Effect of exchange rate changes on Mainly due to the change of exchange rate in the

398221.49-3538183.05111.25%

cash Period

II. Shareholders

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

top ten shareholders

Unit: Share

Total preference shareholders

Total number of common shareholders at the with voting rights recovered at

607860

end of report period end of reporting period (if

applicable)

Top ten shareholders

Amount of Information of shares pledged

Nature of Proportion of Amount of

Shareholder’s name lock-up tagged or frozen

shareholder shares held shares held

shares held State of share Amount

State-owned legal

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

person

Hefei Industry Investment Holding State-owned legal

4.64%478234010--

(Group) Co. Ltd. person

CHANGHONG (HK) TRADING

Foreign legal person 2.63% 27077797 0 - -

LIMITED

Foreign natural

CAO SHENGCHUN 1.43% 14766086 0 - -

person

Domestic natural

Ma Guobin 1.42% 14642300 0 - -

person

Caitong Fund- Ningbo Bank-Haitong Domestic

Xingtai (Anhui) Emerging Industry non-state-owned 1.04% 10733452 0 - -

Investment Fund (Limited Partnership) legal person

Zhuhai Jinyi Assets Management Co. Domestic

Ltd. - Private equity investment fund Jinyi non-state-owned 1.00% 10347600 0 - -

Phase I legal person

5CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Philip Securities (H.K.) Co. Ltd. Foreign legal person 0.61% 6296913 0 - -

UBS AG Foreign legal person 0.52% 5360600 0 - -

Domestic natural

Chen Qin 0.43% 4383888 0 - -

person

Top ten shareholders with unrestricted shares held

Amount of Type of shares

Shareholder’s name unrestricted

Type Amount

shares held

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

Hefei Industry Investment Holding (Group) Co. Ltd. 47823401 RMB ordinary shares 47823401

CHANGHONG (HK) TRADING LIMITED Domestically listed 27077797

27077797

foreign shares

CAO SHENGCHUN Domestically listed 14766086

14766086

foreign shares

Ma Guobin 14642300 RMB ordinary shares 14642300

Caitong Fund- Ningbo Bank-Haitong Xingtai (Anhui) Emerging Industry Investment 10733452

10733452 RMB ordinary shares

Fund (Limited Partnership)

Zhuhai Jinyi Assets Management Co. Ltd. - Private equity investment fund Jinyi Phase 10347600

10347600 RMB ordinary shares

I

Philip Securities (H.K.) Co. Ltd. Domestically listed 6296913

6296913

foreign shares

UBS AG 5360600 RMB ordinary shares 5360600

Chen Qin 4383888 RMB ordinary shares 4383888

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 by Hong Kong Changhong 6296913 shares of B-stock are also held through Phillip

Securities (H.K.) 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 for the Administration of

Explanation on associated

Information Disclosure of Shareholder Equity Changes of Listed Companies among Sichuan Changhong Electric

relationship among the

Co. Ltd Hong Kong Changhong and other top 7 shareholders (except Philip Securities (H.K.) Co. Ltd.);

aforesaid shareholders“Caitong Fund- Ningbo Bank-Haitong Xingtai (Anhui) Emerging Industry Investment Fund (LimitedPartnership) ” refers to the products of Caitong Fund Management Company subscribe for privately placement

of 2016; The company neither knows whether there is any association among other shareholders nor knowswhether other shareholders belong to the persons acting in concert that is stipulated in the “AdministrativeMeasures on Information Disclosure of Changes in Shareholding of Listed Companies”.As of March 31 2022 among the top 10 common shareholders Ma Guobin held 13000000 shares of the

Explanation on top ten common

Company through customer credit trading secured account of Founder Securities Co. Ltd. and 1642300 shares

shareholders involving margin

hold through common securities account thus 14642300 shares of the Company are held in total. Shareholder-

business (if applicable)

Zhuhai Jinyi Assets Management Co. Ltd. - Private equity investment fund Jinyi Phase I held 8992400 shares

6CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

of the Company through its customer credit trading secured account of Industrial Securities and 1355200 shares

through its common securities account resulting in a total of 10347600 shares of the Company.(ii) Total shareholders with preferred stock held and shares held by top ten shareholders with preferred

stock held

□ Applicable √ Not applicable

III. Other important matters

√Applicable □Not applicable

Information index for temporary report

Overview Date for disclosure

disclosure

On March 2 2022 the cancellation of 14674166 shares of

domestically listed foreign shares (B-stock) repurchased was completed

Juchao Website: http://www.cninfo.com.cn

at the Shenzhen Branch of CSDC. Total share capital of the Company 2022-3-4

(No. 2022-011)

was reduced from 1044597881 shares to 1029923715 shares upon

the completion of cancellation.After review and approval by the resolution of the BOD approved the

renewal of Shine Wing Accounting Firm (special general partnership) Juchao Website: http://www.cninfo.com.cn

2022-3-31

as the company's 2022 annual financial report and internal control audit (No. 2022-012)

firm for one year.After review and approval by the resolution of the BOD and BOS the

Juchao Website: http://www.cninfo.com.cn

Company agreed to change the accounting policy in accordance with

2022-3-31 (No. 2022-012 No. 2022-013 and No.

relevant regulations of the Q&A with ASBE Concerned issued by the

2022-017)

Accounting Regulatory Dept. of Ministry of Finance

After review and approval by the resolution of the BOD its agreed that

the Company and its subsidiaries shall carry out the forward foreign

exchange fund trading during the period from July 1 2022 to June 30

Juchao Website: http://www.cninfo.com.cn

2023 with trading balance not exceed $825 million (mainly including: 2022-3-31

(No. 2022-012 and No. 2022-019)

USD AUD EUR and all other foreign currencies are converted to

USD) maximum settlement period for single business is not more than

one year.After review and approval by the resolution of the BOD its agreed to

donate a scholarship of up to 5.65 million yuan to 11 famous

universities in China within 10 years by subordinate wholly-owned

Juchao Website: http://www.cninfo.com.cn

subsidiary - Zhongke Meiling Cryogenic Technology Co. Ltd with 2022-3-31

(No. 2022-012 and No. 2022-021)

purpose of supporting the development of university education and

enhancing the brand reputation social image and influence of the

Company and its subsidiaries.After review and approval by the resolution of the BOD and BOS it is Juchao Website: http://www.cninfo.com.cn

2022-3-31

agreed that the company would complete the "intelligent R&D (No. 2022-012 No. 2022-013 and No.

7CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

management platform construction" a sub-project of the remaining 2022-022)

fundraising projects "intelligent manufacturing construction project"

and "intelligent R&D project". and the savings on above mentioned

proceeds as of December 31 2021(final amount is based on the bank

balance on the day the fund transferred) that is 5665621.17 yuan and

the balance resulting from the difference between interest income and

handling charges generated before the subsequent cancellation of the

specific account for fund raising to permanently replenish working

capital of the Company for routine operation and business

development.After review and approval by the resolution of the BOD its agreed to

invest 10.45 million yuan in the technical transformation of the

front-end production line of refrigerators in Hefei base. Established a

Juchao Website: http://www.cninfo.com.cn

new door shell forming line for the multi-door to improving the 2022-3-31

(No. 2022-012)

front-end manufacturing capability of the Company and achieved cost

reduction and improve the market competitiveness of the products to

meet the production demand of refrigerator products.After review and approval by the resolution of the BOD its agreed that

the company and its subsidiaries apply to Industrial Bank Co. Ltd.Hefei Branch for a special credit line of bill pool of up to 400 million

Juchao Website: http://www.cninfo.com.cn

yuan; and apply to Ping An Bank Co. Ltd. Hefei Branch for a special 2022-3-31

(No. 2022-012 and No. 2022-023)

credit line of bill pool of up to 300 million yuan; and apply to Jiujiang

Bank Co. Ltd. Hefei Branch for a special credit line of bill pool of up

to 400 million yuan.IV. Quarterly financial statements

(i) Financial statement

1. Consolidate Balance Sheet

Prepared by Changhong Meiling Co. Ltd.Unit: RMB/CNY

Item Ending balance Opening balance

Current assets:

Monetary fund 4762243208.64 5938823396.21

Settlement provisions

Capital lent

Trading financial assets 233166145.94 17997086.19

Derivative financial assets

Note receivable 907242.87 2216752.22

8CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Account receivable 1751014904.30 1440874691.28

Receivable financing 1723363796.40 1808109301.56

Account paid in advance 42228271.87 29766797.34

Insurance receivable

Reinsurance receivables

Contract reserve of reinsurance receivable

Other account receivable 103056898.08 111652635.86

Including: Interest receivable

Dividend receivable

Buying back the sale of financial assets

Inventory 2270256051.70 1356357419.80

Contract assets 1777252.62

Assets held for sale

Non-current asset due within one year

Other current assets 153827197.49 124240934.45

Total current assets 11041840969.91 10830039014.91

Non-current assets:

Loans and payments on behalf

Debt investment

Other debt investment

Long-term account receivable

Long-term equity investment 82169081.13 86631660.53

Investment in other equity instrument

Other non-current financial assets 576200641.50 581980440.70

Investment real estate 52670560.06 53149934.45

Fixed assets 2280104619.94 2303122699.92

Construction in progress 103636394.90 98469862.45

Productive biological asset

Oil and gas asset

Right-of-use assets 42920559.41 45367918.31

Intangible assets 933200360.90 953403100.33

Expense on research and development 110822447.17 87728990.86

Goodwill

Long-term expenses to be apportioned 140885.26

9CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Deferred income tax asset 155683390.82 147488353.28

Other non-current assets 3087780.59

Total non-current asset 4337548941.09 4360430741.42

Total assets 15379389911.00 15190469756.33

Current liabilities:

Short-term loans 670088074.22 622874652.77

Loan from central bank

Capital borrowed

Trading financial liability 9007322.83 12304272.41

Derivative financial liability

Note payable 4211716538.68 4839837317.78

Account payable 3332710063.99 2299103796.88

Accounts received in advance

Contract liabilities 357443604.25 515004115.23

Selling financial asset of repurchase

Absorbing deposit and interbank deposit

Security trading of agency

Security sales of agency

Wage payable 199770704.42 247044421.56

Taxes payable 60844916.80 141874861.88

Other account payable 773895520.75 751452768.00

Including: Interest payable

Dividend payable 4753764.56 4753764.56

Commission charge and commission payable

Reinsurance payable

Liability held for sale

Non-current liabilities due within one year 331709820.49 332718478.25

Other current liabilities 24167988.60 24373759.16

Total current liabilities 9971354555.03 9786588443.92

Non-current liabilities:

Insurance contract reserve

Long-term loans 168000000.00 168000000.00

Bonds payable

Including: Preferred stock

10CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Perpetual capital securities

Lease liability 32155802.09 33225912.15

Long-term account payable 1289554.05 1337643.24

Long-term wages payable 9303179.92 9828300.06

Accrual liability 11333409.09 11363601.63

Deferred income 169960107.90 175664038.83

Deferred income tax liabilities 8902951.71 9670435.45

Other non-current liabilities

Total non-current liabilities 400945004.76 409089931.36

Total liabilities 10372299559.79 10195678375.28

Owner’s equity:

Share capital 1029923715.00 1044597881.00

Other equity instrument

Including: Preferred stock

Perpetual capital securities

Capital public reserve 2670335694.07 2682829400.26

Less: Treasury shares 26430571.38

Other comprehensive income -21272985.82 -20903270.57

Reasonable reserve

Surplus public reserve 423111236.90 423111236.90

Provision of general risk

Retained profit 739277372.23 734129724.00

Total owner’ s equity attributable to parent company 4841375032.38 4837334400.21

Minority interests 165715318.83 157456980.84

Total owner’ s equity 5007090351.21 4994791381.05

Total liabilities and owner’ s equity 15379389911.00 15190469756.33

Legal Representative: Wu Dinggang

Person in charge of accounting works: Pang Haitao

Person in charge of accounting institute: Yang Jun

2. Consolidated Profit Statement

Unit: RMB/CNY

11CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Item Current period Last period

I. Total operating income 4012925239.44 4130121476.44

Including: Operating income 4012925239.44 4130121476.44

Interest income

Insurance gained

Commission charge and commission income

II. Total operating cost 4011460060.46 4114082728.16

Including: Operating cost 3505133832.06 3462713769.04

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 29031104.40 27280660.16

Sales expense 335122981.27 470854477.88

Administrative expense 74774111.15 69868119.38

R&D expense 108762671.65 84849522.84

Financial expenses -41364640.07 -1483821.14

Including: Interest expenses 11459855.40 19017594.62

Interest income 34441441.46 32955063.89

Add: other income 26202120.61 13160582.16

Investment income (Loss is listed with “-”) 7547051.46 31431230.42

Including: Investment income on affiliated company

2224748.61-7098168.49

and joint venture

The termination of income recognition for

financial assets measured by amortized cost

Exchange income (Loss is listed with “-”)

Net exposure hedging income (Loss is listed with “-”)

Income from change of fair value (Loss is listed with

-1533990.67-17465727.43

“-”)

Loss of credit impairment (Loss is listed with “-”) -13619904.38 -14975095.55

Losses of devaluation of asset (Loss is listed with “-”) -12316116.48 -14938223.91

12CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Income from assets disposal (Loss is listed with “-”) 3689706.71 -132879.85

III. Operating profit (Loss is listed with “-”) 11434046.23 13118634.12

Add: Non-operating income 1073158.74 4126563.91

Less: Non-operating expense 795726.90 450581.59

IV. Total profit (Loss is listed with “-”) 11711478.07 16794616.44

Less: Income tax expense -1669169.27 5426757.07

V. Net profit (Net loss is listed with “-”) 13380647.34 11367859.37

(i) Classify by business continuity

1. Net profit from continuing operations (net loss listed

13380647.3411367859.37

with “-”)

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 5147648.23 5297826.42

2.Minority shareholders’ gains and losses 8232999.11 6070032.95

VI. Net after-tax of other comprehensive income -344376.37 -1223856.13

Net after-tax of other comprehensive income attributable to

-369715.25-751052.75

owners of parent company

(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

-369715.25-751052.75

reclassified subsequently to profit or loss

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

13CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

5.Cash flow hedging reserve

6.Translation differences arising on translation of

-369715.25-751052.75

foreign currency financial statements

7.Other

Net after-tax of other comprehensive income attributable to

25338.88-472803.38

minority shareholders

VII. Total comprehensive income 13036270.97 10144003.24

Total comprehensive income attributable to owners of

4777932.984546773.67

parent Company

Total comprehensive income attributable to minority

8258337.995597229.57

shareholders

VIII. Earnings per share:

(i) Basic earnings per share 0.0050 0.0051

(ii) Diluted earnings per share 0.0050 0.0051

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: Yang Jun

3. Consolidated Cash Flow Statement

Unit: RMB/CNY

Item Current period Last period

I. Cash flows arising from operating activities:

Cash received from selling commodities and providing

3914069915.963373434107.23

labor services

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

14CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

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 137758875.67 143775589.37

Other cash received concerning operating activities 39337433.81 20772768.09

Subtotal of cash inflow arising from operating activities 4091166225.44 3537982464.69

Cash paid for purchasing commodities and receiving labor

4337604502.713693784072.40

service

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 448108157.26 460407255.70

Taxes paid 132796426.52 81424772.89

Other cash paid concerning operating activities 237160586.02 270888821.50

Subtotal of cash outflow arising from operating activities 5155669672.51 4506504922.49

Net cash flows arising from operating activities -1064503447.07 -968522457.80

II. Cash flows arising from investing activities:

Cash received from recovering investment 1539824.00

Cash received from investment income 11003504.00

Net cash received from disposal of fixed intangible and

8304653.60226967.80

other long-term assets

Net cash received from disposal of subsidiaries and other

units

Other cash received concerning investing activities 52685195.90 65932678.99

Subtotal of cash inflow from investing activities 73533177.50 66159646.79

Cash paid for purchasing fixed intangible and other

71711824.7386274381.23

long-term assets

Cash paid for investment 220000000.00 1000000000.00

Net increase of mortgaged loans

Net cash received from subsidiaries and other units

obtained

15CHANGHONG MEILING CO. LTD. THE FIRST QUARTERLY REPORT FOR 2022

Other cash paid concerning investing activities 700.67 24740.79

Subtotal of cash outflow from investing activities 291712525.40 1086299122.02

Net cash flows arising from investing activities -218179347.90 -1020139475.23

III. Cash flows arising from financing activities

Cash received from absorbing investment 15000000.00

Including: Cash received from absorbing minority

15000000.00

shareholders’ investment by subsidiaries

Cash received from loans 225000000.00 647079820.49

Other cash received concerning financing activities 4466696.88 3982026.24

Subtotal of cash inflow from financing activities 229466696.88 666061846.73

Cash paid for settling debts 175000000.00 904900000.00

Cash paid for dividend and profit distributing or interest

10261148.4519467766.75

paying

Including: Dividend and profit of minority shareholder

paid by subsidiaries

Other cash paid concerning financing activities 4144046.56 6339329.84

Subtotal of cash outflow from financing activities 189405195.01 930707096.59

Net cash flows arising from financing activities 40061501.87 -264645249.86

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

398221.49-3538183.05

exchange rate

V. Net increase of cash and cash equivalents -1242223071.61 -2256845365.94

Add: Balance of cash and cash equivalents at the

5840194931.576425529815.10

period-begin

VI. Balance of cash and cash equivalents at the period-end 4597971859.96 4168684449.16

(ii) Audit report

st

Whether the 1 quarterly report has been audited or not

□Yes √ No

st

The 1 quarterly report of the Company has not been audited.Board of Directors of

Changhong Meiling Co. Ltd.April 20 2022

16