CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Stock Code: 000521 200521 Stock Abbreviation: Changhong Meiling Hongmeiling B
Announcement No.: 2024-057
Changhong Meiling Co. Ltd.The Third Quarterly Report of 2024
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. Yang
Jun 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 Third 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
Increase/decrease
Increase/decrease in the from year-begin to
period compared with the Year-begin to period- period-end
Current period same period of the end compared with the
previous year same period of the
previous year
1CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Operating income
(RMB) 7810029557.25 23.21% 22757699848.95 18.73%
Net profit attributable to
shareholders of the
115406948.15-17.99%530440364.036.35%
listed company (RMB)
Net profit attributable to
shareholders of the
listed company after
81836690.17-37.66%514341146.540.21%
deducting non-recurring
gains and losses (RMB)
Net cash flow arising
from operating
——2745427803.4514.09%
activities (RMB)
Basic earnings per share
6.34%
(RMB/Share) 0.1121 -17.94% 0.5150
Diluted earnings per
6.34%
share (RMB/Share) 0.1121 -17.94% 0.5150
Weighted average ROE A decrease of A decrease of 0.40
1.96%8.86%
0.73percentage points percentage points
Changes of this period-end over same period-
End of this period End of last period end of last year
Total assets (RMB)
22630704631.0719391604526.1916.70%
Owners’ equity
attributable to
shareholders of listed 6047014267.59 5824782654.09 3.82%
company (RMB)
(ii)Items of non-recurring gains and losses
√ Applicable □ Not applicable
In RMB
Item Current amount Year-begin to Note
period-end
Gains/losses from the disposal of non-current asset
(including the write-off that accrued for impairment -1893298.38 -1856963.43
of assets)
Governmental subsidy calculated into current gains
and losses(while closely related with the normal
business of the Company the government subsidy
Mainly due to
that accord with the provision of national policies and 19342195.22 45128487.31
government subsidies.are continuously enjoyed in line with a certain
standard quota or quantity are excluded)
Gain and loss from change of the fair value arising
It mainly refers to the
from transactional monetary assets transactional
17847931.41 -47426382.79 gains and losses arising
financial liabilities as held as well as the investment from changes in the fair
income arising from disposal of the transactional value of financial assets
2CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
monetary assets transactional financial liabilities and and disposal.financial assets available for sale excluding the
effective hedging transaction in connection with the
Company’s normal business
Reversal of the account receivable
depreciation reserves subject to separate -23891.11 20785113.26
impairment test
Other non-operating income and expenses other than
the above 4919844.60 2993297.20
Less: impact on income tax
5741004.71-1325264.43
Impact on minority shareholders’ equity (post-tax)
881519.054849598.49
Total
33570257.9816099217.49--
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.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(revised in 2023)
□ 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 (revised in 2023).(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
In RMB
Changes
Item Ending balance Opening balance Reasons of changes
ratio
Mainly due to the increase in income
Trading financial assets 1469136701.27 39236447.63 3644.32% from wealth management products in
the current period
Mainly due to the maturity of the
Notes receivable - 267174.50 -100.00% notes in the current period
Mainly due to the increase in sales
Account receivable 2355222936.53 1633706889.06 44.16% during the current period
3CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Changes
Item Ending balance Opening balance Reasons of changes
ratio
Mainly due to the conversion of
Contract assets 7217666.14 13261690.62 -45.58% contract assets to accounts receivable
in the current period
Non-current asset due Mainly due to the maturity of large-
- 122294027.78 -100.00% denomination certificates of deposit within one year
in the current period
Mainly attributable to the increase in
the purchase of time deposits and
Other current assets 340368105.19 225419883.07 50.99% large certificates of deposit during the
current period
Mainly due to the increase in the
Creditor's rights investment 1391564343.42 420537485.54 230.90% Company's large certificates of
deposit in the current period
Mainly due to the increase in leased
Usage right assets 111213574.15 49993400.61 122.46% factories during the current period
Mainly due to the increase in R&D
Development expenses 131983953.57 97177535.34 35.82% investment in the current period
Mainly due to the decrease in
Other non-current assets 16954711.86 26601614.35 -36.26% prepayment for equipment in the
current period
Mainly due to changes in the fair
value of irrevocable orders and
Trading financial liabilities 54736706.07 32229012.86 69.84% foreign exchange contracts during the
current period
Note payable Mainly due to the increase in
7793021743.61 5904387089.98 31.99% purchases during the current period
Accounts received in
Mainly due to the decrease in advance
advance 35984.62 55949.90 -35.68% receivables in the current period
Mainly due to the repayment of long-
Non-current liabilities due
within one year 10939951.24 48822798.47 -77.59%
term borrowings due within one year
in the current period
Mainly due to the early repayment of
Long-term loans 5842922.02 108000000.00 -94.59% long-term borrowings in the current
period
Mainly due to the increase in leased
Lease liability 106251727.30 43488292.70 144.32% factories during the current period
Mainly attributable to the
Long-term account payable 541643.86 800347.84 -32.32% apportionment of long-term payables
for the current period
Mainly due to the increase in the
Deferred income tax recognition of deferred income tax on
liabilities 30679525.53 21814466.43 40.64% right-of-use assets in the current
period
2.Changes and reasons of items in profit statement
In RMB
Item Current period Amount at the same Changes
Reasons of changes
period of last year ratio
Mainly due to the payment of the waste
Tax and extras electrical and electronic products disposal 76763729.74 144925448.61 -47.03% fund in the previous period and there is no
such payment in the current period
Other income Mainly due to the recognition of VAT plus 121445358.81 58843835.36 106.39% deduction credit in the current period
Mainly due to the increase in income from
Investment earnings 21041038.63 6121002.68 243.75% wealth management products in the current
period
4CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Item Current period Amount at the same Changes
Reasons of changes
period of last year ratio
Mainly due to changes in the fair value of
Gains on changes in
fair value -11228505.02 -63928733.56 82.44%
irrevocable orders and foreign exchange
contracts during the current period
Credit impairment loss Mainly due to the YOY decrease in bad
-1448976.31 -93458661.22 -98.45% debt provision for accounts receivable
Mainly due to the increase in the decline in
Loss of asset
-48615603.79 -19904174.33 144.25% the value of inventories accrued in the impairment
current period
Mainly due to the decrease in liquidated
Non-operating income 7037132.35 13003292.01 -45.88% damages received during the period
Mainly attributable to the increase in
Income tax expenses 6364902.62 3477731.10 83.02% relocation costs during the current period
Mainly due to the increase in income tax
Income tax expenses 73975762.36 4446696.74 1563.61% expenses due to the increase in taxable
income for the current period
3.Changes and reasons of items 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 in
Tax refund received 878299622.69 545575086.82 60.99% export tax rebates received in the
current period
Cash received from recovery Mainly due to the YOY increase in
of investment 7438000000.00 630000000.00 1080.63% the recovery of wealth management
products in the current period
Cash received from absorbing Mainly due to the YOY increase in
investment 45916313.88 34088250.87 34.70% the income of wealth management
products in the current period
Net cash received from
Mainly due to the YOY decrease in
disposal of fixed assets
cash recovered from the disposal of
intangible assets and other 670588.40 4027612.46 -83.35%
fixed assets in the current period
long-term assets
Mainly due to the YOY increase in
Cash paid for investments
9870000000.00 1427333334.00 591.50% the purchase of wealth management
products in the current period
Mainly due to the YOY decrease in
Other cash paid concerning the delivery loss of forward foreign
investing activities 10004887.52 73130700.88 -86.32% exchange contracts in the current
period
Mainly attributable to the YOY
Cash received from
borrowing 1798005348.24 1135721085.04 58.31%
increase in bank borrowings during
the current period
Other cash received Mainly due to the YOY decrease in
concerning financing 59024900.30 250002913.48 -76.39% the restricted margin recovery in the
activities current period
Mainly due to the YOY increase in
Cash paid for settling debts 1941925085.56 753250888.06 157.81% the repayment of borrowings in the
current period
Mainly due to the YOY increase in
Cash paid for dividend and
dividends distribution for the current
profit distributing or interest 331222527.04 126145172.10 162.57%
paying period
Mainly due to the impact of exchange
Influence on cash and cash
rate changes during the current
equivalents due to fluctuation 19235492.91 1594491.69 1106.37%
in exchange rate period
5CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
II. Shareholders
(i)Total number of common shareholders and preference shareholders with voting rights recovered and
top ten shareholders
In Shares
Total preference shareholders with voting rights
Total number of common shareholders at the end of report period 55993 recovered at end of reporting period (if 0
applicable)Shares held by the top 10 shareholders（Excluding shares lent through refinancing)Information of
shares pledged
Proportion Amount of tagged or frozen
Nature of Amount of
Shareholder’s name of shares lock-up
shareholder shares held State
held shares held
of Amount
share
Sichuan Changhong Electric Co. State-owned legal
Ltd. person 24.12% 248457724 0 - -
Overseas Legal
HKSCC
person 4.58% 47155309 0 - -
The National Social Security Fund Domestic non-state-
101 portfolio owned legal person 3.44% 35423661 0 - -
CHANGHONG (HK) TRADING Overseas Legal
LIMITE person 2.63% 27077797 0 - -
Hefei Industry Investment Holding State-owned legal
(Group) Co. Ltd. person 2.43% 25064896 0 - -
Overseas natural
CAOSHENGCHUN 1.43% 14766086 0 - -
person
Industrial Bank－Southern Xingrun
Domestic non-state-
value one-year holding period of
owned legal person 1.33% 13691353 0 - -
hybrid securities investment fund
ICBC － South Excellent Growth Domestic non-state-
Stock Securities Investment Fund owned legal person
1.24%127224000--
China Construction Bank Co. Ltd.-
Domestic non-state-
Jiashixin Consumer Stock
owned legal person 0.65% 6671917 0 - -
Securities Investment Fund
Overseas Legal
Phillip Securities( HK) Co. Ltd.person 0.61% 6296913 0 - -
Top ten shareholders with unrestricted shares held (excluding shares lent through conversions and locked-up shares for senior
managers)
Type of shares
Shareholder’s name Amount of unrestricted shares held
Type Amount
Sichuan Changhong Electric Co. Ltd. RMB ordinary
248457724248457724
shares
RMB ordinary
HKSCC 47155309 47155309
shares
The National Social Security Fund 101 RMB ordinary
3542366135423661
portfolio shares
CHANGHONG (HK) TRADING LIMITE 27077797 Domestically listed 27077797
6CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
foreign shares
Hefei Industry Investment Holding (Group) RMB ordinary
2506489625064896
Co. Ltd. shares
Domestically listed
CAOSHENGCHUN 14766086 14766086
foreign shares
Industrial Bank－Southern Xingrun value
RMB ordinary
one-year holding period of hybrid securities 13691353 13691353
shares
investment fund
ICBC－South Excellent Growth Stock RMB ordinary
1272240012722400
Securities Investment Fund shares
China Construction Bank Co. Ltd.-
RMB ordinary
Jiashixin Consumer Stock Securities 6671917 6671917
shares
Investment Fund
Domestically listed
Phillip Securities( HK) Co. Ltd. 6296913 6296913
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
Explanation on associated relationship belong to the concerted actors as specified in the Measures for the Administration
among the aforesaid shareholders of Information Disclosure of Shareholder Equity Changes of Listed Companies
among Sichuan Changhong Electric Co. Ltd Hong Kong Changhong and other
top 7 shareholders The company neither knows whether there is any association
among other shareholders nor knows whether other shareholders belong to thepersons acting in concert that is stipulated in the “Administrative Measures onInformation Disclosure of Changes in Shareholding of Listed Companies”.Explanation on top ten shareholders
Not applicable
involving 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
Through the resolution passed by the Company's board of directors it’s Juchao
agreed that the Company shall establish an ESG management organizational February 202024 Website:http://www.cninfo.com.cn
structure and set up an ESG management committee under the board of （No.: 2024-004 and 2024-005）
7CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Information index for temporary
Overview Date for disclosure
report disclosure
directors of the Company which is composed of six directors-Mr. Wu
Dinggang Mr. Zhong Ming Mr. Zhao Qilin Mr. Kou Huameng Mr. Hu
Zhaogui and Ms. Mou Wen (independent directors)-of the board of directors
of the Company and the chairman is Mr. Wu Dinggang taking effect from
the date of deliberation and approval of the board of directors and the term
of office of the above members is the same as that of the board of directors.Through the resolution passed by the Company's board of directors it’s
agreed that the Company will invest 88 million yuan to renovate the front -
Juchao
end production line of refrigerators in the Hefei manufacturing base in order
February 202024 Website:http://www.cninfo.com.cn
to enhance the Company's production and manufacturing capacity of（No.: 2024-004）
refrigerators in the Hefei base and enhance the product market
competitiveness.Through the resolution of the board of directors of the Company it’s agreed
that Sichuan Changhong Air Conditioning Co. Ltd. a subsidiary of the
Company will invest 100 million yuan by its own funds to establish a
Juchao
wholly-owned subsidiary Sichuan Changhong Air Conditioning Intelligent
March 152024 Website:http://www.cninfo.com.cn
Home Appliance Technology Co. Ltd. (tentative name subject to industrial（No.: 2024-006）
and commercial approval) to engage in related business with the
manufacturing and sales of variable frequency drive control boards in the air
conditioning industry (including special air conditioners) as the core.Through the resolution of the Company's board of directors supervisory
board and the general meeting of shareholders it was agreed to pass the
Company's 2023 profit distribution plan: based on the Company's total share
capital of 1029923715 shares on December 31 2023 it will distribute a
cash dividend of RMB 3 (including tax) to all shareholders for every 10
Juchao
shares with no bonus shares or share capital increase by reserve fund
March 302024 April Website:http://www.cninfo.com.cn
conversion. It is expected to distribute a cash dividend of RMB262024 June 52024 （No.: 2024-007 2024-0082024-
308977114.50 (including tax) accounting for 41.70% of the net profit 0102024-024 and 2024-034）
attributable to shareholders of listed companies in 2023. On June 5 2024 the
Company disclosed the "2023 Annual Profit Distribution PlanImplementation Announcement “and implemented the afore-mentioned profitdistribution plan.Through the resolution of the Company's board of directors and the general Juchao
meeting of shareholders it’s agreed to appoint Pan-China Certified Public March 302024 April 26 Website:http://www.cninfo.com.cnAccounts (LLP) as the auditing agency for the Company's 2024 financial 2024 （No.: 2024-007 2024-011 and -2024-report and internal control with a term of one year. 024）
Through the resolution of the Company's board of directors and supervisory Juchao
board it’s agreed that the subsidiary of the Company Hefei Meiling Website:http://www.cninfo.com.cn
March 302024Nonferrous Metal Products Co. Ltd. will write off a total of 3092614.56 （No.: 2024-007 2024-008 and 2024-yuan in bad debts of part accounts receivable that cannot be recovered. 012）
Through the resolution of the board of directors of the Company it’s agreed
that the Company and its subsidiaries will carry out forward foreign
Juchao
exchange fund trading business from July 1 2024 to June 30 2025 with a
March 302024 April 26 Website:http://www.cninfo.com.cn
transaction balance not exceeding 1.199 billion US dollars (mainly including2024 （No.: 2024-007 2024-013 and -2024-US dollars Australian dollars Euros and all other foreign currencies
024）
converted into US dollars) and the delivery period of a single transaction
shall not exceed one year.Through the resolution of the Company's board of directors supervisory Juchao
board and the general meeting of shareholders it’s agreed to the Company’s March 302024 April 26 Website:http://www.cninfo.com.cnformulated "Shareholders' Return Plan for the Next Three Years (2021-2023) 2024 （No.: 2024-007 2024-008 and -2024-by the Company" 024）
Through the resolution of the Company's board of directors supervisory
board and the general meeting of shareholders it’s agreed that the Company Juchao
will increase the expected amount of no more than 1138 million yuan March 302024 April 26 Website:http://www.cninfo.com.cn(excluding tax) of routine related party transactions including purchase of 2024 （No.: 2024-007 2024-0082024-014raw materials and commodities between the Company and its subsidiaries and -2024-024）
and Sichuan Changhong Electronic Holding Group Co. Ltd. in 2024. After
8CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Information index for temporary
Overview Date for disclosure
report disclosure
this increase it’s expected that the total amount of routine related party
transactions between the Company and its subsidiaries and Sichuan
Changhong Electronic Holding Group Co. Ltd. including purchasing goods
receiving services and leasing will not exceed 2938 million yuan
(excluding tax) in 2024.Through the resolution of the board of directors and the general meeting of
shareholder of the Company it’s agreed that the Company and its subsidiaries Juchao
can apply for a special line of up to 400 million yuan for the bill pool to the March 302024 April 26 Website:http://www.cninfo.com.cnHefei Branch of Industrial Bank Co. Ltd; and apply to Hefei Branch Ping An 2024 （No.: 2024-007 2024-015 and -2024-Bank Co. Ltd. for a special credit line of up to 500 million yuan for the bill 024）
pool.Through the resolution of the board of directors supervisory board and the
general meeting of shareholders it was agreed to provide a total guarantee Juchao
amount of no more than RMB 600 million for raw materials purchased by April 202024 June Website:http://www.cninfo.com.cnChanghong Air Conditioning a wholly-owned subsidiary of the Company 192024 （No.: 2024-020 2024-0212024-023with a guarantee period of one year starting from the date of review and and -2024-036）
approval by the Company's General Meeting of Shareholders.In order to establish a variety of shareholder return mechanisms thank
shareholders for their long-term concern and support and at the same time to
Juchao
allow shareholders to experience the Company's new products and services
May 172024 Website:http://www.cninfo.com.cn
and improve investors' understanding and recognition of the Company's（No.: 2024-025）
intrinsic value the Company held the "Changhong Meiling Shareholder
Thanksgiving Festival" from May 18 2024 to May 26 2024
Through the resolution of the board of directors and the general meeting of Juchao
shareholders it was agreed to amend some clauses of the Company's Articles June 1 2024 June Website:http://www.cninfo.com.cnof Association according to relevant provisions of laws and regulations and 192024 （No.: 2024-026 2024-028 and -2024-combined with the actual situation of the Company. 036）
Through the resolution of the board of directors supervisory board and the
general meeting of shareholders it was agreed that the Company and its
subsidiaries (excluding Zhongke Meiling Cryogenic Technology Co. Ltd. Juchao
and its subsidiaries) would increase the use of their own idle funds of no
June 1 2024 June Website:http://www.cninfo.com.cn
more than 1.85 billion yuan(which can be used in a rolling way) to invest in192024 （No.: 2024-026 2024-0272024-030and purchase bank wealth management products with high safety goodand -2024-036）
liquidity low risk and stability within one year. The authorization period is
valid within one year from the date of deliberation and app roval by the
General Meeting of Shareholders of the Company.In view of the expiration of the term of the 10th Board of Directors of the
Company according to relevant regulations the Board of Directors of the
Company needs to be re-elected. It was agreed that the 11th Board of
Directors of the Company should have 9 directors including 6 non-
independent directors and 3 independent directors. According to the Juchao
resolutions of the 44th meeting of the 10th Board of Directors and the First June 1 2024 June Website:http://www.cninfo.com.cnExtraordinary General Meeting of Shareholders in 2024 it was agreed to 192024 （No.: 2024-026 2024-031 and -2024-appoint Mr. Wu Dinggang Mr. Zhong Ming Mr. Zhao Qilin Ms. Yi Suqin 036）
Mr. Cheng Ping and Mr. Fang Wei as the non-independent directors of the
11th Board of Directors and Ms. Mu Wen Mr. Hong Yuanjia and Mr. Cheng
Wenlong as the independent directors of the 11th Board of Directors. with a
term of office the same as that of the 11th Board of directors of the Company.Through the resolution of the supervisory board and the general meeting of Juchao
shareholders in order to optimize the enterprise supervision system
June 1 2024 June Website:http://www.cninfo.com.cn
combined with the revision of the Articles of Association it was agreed to192024 （No.: 2024-027 2024-029 and -2024-amend some clauses of the Rules of Procedure of the Board of Supervisors
036）
and adjust the member number of the Board of Supervisors from 5 to 3.In view of the expiration of the term of the 10th Board of Supervisors of the
Company according to relevant regulations the Board of Supervisors of the Juchao
Company needs to be re-elected. It was agreed that the 11th Board of
June 1 2024 June Website:http://www.cninfo.com.cn
Supervisors of the Company should have 3 supervisors including 2192024 （No.: 2024-027 2024-032 2024-36shareholder representative supervisors and 1 employee supervisor. Accordingand -2024-037）
to the resolution of the 32nd meeting of the 10th Board of Supervisors and
the First Extraordinary General Meeting of Shareholders in 2024 it was
9CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Information index for temporary
Overview Date for disclosure
report disclosure
agreed to appoint Mr. Qiu Jin and Mr. Ma Yu as the shareholder
representative supervisors of the 11th Board of Supervisors; After voting at
the second meeting of the Ninth Workers' Congress it was agreed to elect
Ms. Ji Ge as the employee supervisor of the 11th Board of Supervisors. with
a term of office the same as that of the 11th Board of supervisors of the
Company.Through the resolution of the board of directors it was agreed to elect Mr.Wu Dinggang as the chairman of the 11th Board of Directors to elect
members of the strategy audit nomination remuneration and assessment and
ESG management committees under the 11th Board of Directors to re-
appoint Mr. Tang Youdao Mr. Kou Huameng and Mr. Hu Zhaogui as the
Juchao
Company's vice presidents to employ Ms. Li Xia as the Company's vice June 19 2024 June
Website:http://www.cninfo.com.cn
president and concurrently the secretary of the Board of Directors and to re- 202024
appoint Mr. Pang Haitao as the Company's financial director with a term of （No.: 2024-038 and -2024-040）
office from the date of review and approval by the Board of Directors to the
Company to the date of expiration of the term of office of the current Board
of Directors.Through the resolution of the supervisory board it was agreed to elect Mr.Juchao
Qiu Jin as the chairman of the 11th Board of Supervisors of the Company June 19 2024 June
Website:http://www.cninfo.com.cn
with a term of office the same as that of the 11th Board of Supervisors of the 202024（No.: 2024-039 and -2024-040）
Company.Through the resolution of the board of directors and supervisory board it’s
agreed that the Company will increase the amount of routine related party
transactions such as financial leasing commercial factoring and financing
orders between the Company and its subsidiaries and Yuanxin Financial Juchao
Leasing Co. Ltd. (hereinafter referred to as "Yuanxin Leasing") in 2024 not Website:http://www.cninfo.com.cn
August 172024exceeding 290 million yuan (excluding tax). After this increase the amount （No.: 2024-0412024-042 and 2024-of routine related party transactions such as financial leasing commercial 044）
factoring and bill financing between the Company and its subsidiaries and
Yuanxin Leasing in 2024 is expected to not exceed 1090 million yuan
(excluding tax).Through the resolution of the board of directors of the Company in order to
improve the manufacturing capacity of the Company's refrigerator products
Juchao
it’s agreed that the Company will use its own funds of 16.35 million yuan to
August 172024 Website:http://www.cninfo.com.cn
carry out technical transformation of some equipment of the refrigerator（No.: 2024-041）
production line to enhance the production capacity and market
competitiveness of the Company's products.Passed by the resolutions of the Board of Directors the Board of Supervisors
and the General Meeting of Shareholders held by the Company on January 18
and April 26 2023 it’ agreed that the Company will participate in the
establishment of "Sichuan Hongyun Venture Capital Partnership (Limited
Partnership)" (hereinafter referred to as "Hongyun Fund Phase II") with its
own funds of 45 million yuan and serve as a limited partner of the
investment fund. Up to now Hongyun Fund Phase II has completed the
industrial and commercial registration and the partners have completed the
first phase of capital contribution. On August 22 2024 Hongyun Fund Phase
II held the first interim general meeting of partners in 2024 and based on the Juchao
progress of the fund manager in introducing new partners and the August 242024 Website:http://www.cninfo.com.cn
requirements of improving the efficiency of capital use it’s agreed that the （No.: 2024-045）
funds that have been paid in by all partners and the income from cash
management of such funds will be temporarily returned to the account
provided by the partners in accordance with the proportion of the shares held
by all partners and the Company has received a total of 18.152 million yuan
of initial capital contributions and corresponding cash management income;
Meanwhile in order to promote the filing of the fund it’s agreed to extend
the open period for the introduction of new partners to December 15 2024
and if no new partners are introduced at that time the liquidation procedure
of the fund will be initiated; Agreed to sign the Supplemental Agreement.
10CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
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
8625778354.778840685525.71
Settlement provisions
Capital lent
Trading financial assets
1469136701.2739236447.63
Derivative financial assets
Note receivable
267174.50
Account receivable
2355222936.531633706889.06
Receivable financing
1477777423.321641858740.34
Account paid in advance
50661048.6045738805.90
Insurance receivable
Reinsurance receivables
Contract reserve of reinsurance receivable
Other account receivable
74639165.7882953808.97
Including: Interest receivable
Dividend receivable
Buying back the sale of financial assets
Inventory
2493833592.102022738412.97
Including：Data resources
Contract assets
7217666.1413261690.62
Assets held for sale
Non-current asset due within one year
122294027.78
Other current assets
340368105.19225419883.07
Total current assets
16894634993.7014668161406.55
Non-current assets:
Loans and payments on behalf
Creditor's rights investment 1391564343.42 420537485.54
11CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Item Ending balance Opening balance
Other Creditor's rights investment
Long-term account receivable
Long-term equity investment
94928336.90112745811.75
Investment in other equity instrument
Other non-current financial assets
674139515.48674139515.48
Investment real estate
49453554.4750920487.71
Fixed assets
2124345702.492136912034.28
Construction in progress
82623440.0369920839.20
Productive biological asset
Oil and gas asset
Right-of-use assets
111213574.1549993400.61
Intangible assets
870135663.07886455434.73
Including：Data resources
Expense on research and development
131983953.5797177535.34
Including：Data resources
Goodwill
Long-term expenses to be apportioned
32260126.5835698465.62
Deferred income tax asset
156466715.35162340495.03
Other non-current assets
16954711.8626601614.35
Total non-current asset
5736069637.374723443119.64
Total assets
22630704631.0719391604526.19
Current liabilities:
Short-term loans 1133775702.32 1134102419.03
Loan from central bank
Capital borrowed
Trading financial liability
54736706.0732229012.86
Derivative financial liability
Note payable
7793021743.615904387089.98
Account payable
4848450447.203882303908.89
Accounts received in advance
35984.6255949.90
Contract liabilities
416122990.94405698756.02
Selling financial asset of repurchase
Absorbing deposit and interbank deposit
12CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Item Ending balance Opening balance
Security trading of agency
Security sales of agency
Wage payable
483892930.06443612216.56
Taxes payable
85995858.1691917751.71
Other account payable
1061340473.71884714721.30
Including: Interest payable
Dividend payable
6005989.725384407.44
Commission charge and commission
payable
Reinsurance payable
Liability held for sale
Non-current liabilities due within one year
10939951.2448822798.47
Other current liabilities
15981918.2119172541.50
Total current liabilities
15904294706.1412847017166.22
Non-current liabilities:
Insurance contract reserve
Long-term loans
5842922.02108000000.00
Bonds payable
Including: Preferred stock
Perpetual capital securities
Lease liability
106251727.3043488292.70
Long-term account payable
541643.86800347.84
Long-term wages payable
10319507.3211417181.82
Accrual liability
35958877.7232054790.39
Deferred income
112002975.60132977494.33
Deferred income tax liabilities
30679525.5321814466.43
Other non-current liabilities
Total non-current liabilities
301597179.35350552573.51
Total liabilities
16205891885.4913197569739.73
Owner’s equity:
Share capital
1029923715.001029923715.00
Other equity instrument
Including: Preferred stock
13CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Item Ending balance Opening balance
Perpetual capital securities
Capital public reserve
2805503457.772805503457.77
Less: Treasury shares
Other comprehensive income
-20548959.12-20704362.05
Special reserve
11859772.9511246811.91
Surplus public reserve
477053194.82477053194.82
Provision of general risk
Retained profit
1743223086.171521759836.64
Total owner’ s equity attributable to parent
company 6047014267.59 5824782654.09
Minority interests
377798477.99369252132.37
Total owner’ s equity
6424812745.586194034786.46
Total liabilities and owner’ s equity
22630704631.0719391604526.19
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun
2. Consolidated Income statement between the beginning of the year and end of the report period
In RMB
Item Current period Last period
I. Total operating income
22757699848.9519167615833.84
Including: Operating income
22757699848.9519167615833.84
Interest income
Insurance gained
Commission charge and commission income
II. Total operating cost
22222774849.0418542771945.98
Including: Operating cost
20292216559.0716590072964.21
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
14CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Reinsurance expense
Tax and extras
76763729.74144925448.61
Sales expense
1263855338.681234618461.71
Administrative expense
264866295.72265996948.80
R&D expense
448349808.47414730110.25
Financial expenses
-123276882.64-107571987.60
Including: Interest expenses
18337445.8419220542.10
Interest income
141269832.76138087696.57
Add: other income
121445358.8158843835.36
Investment income (Loss is listed with “-”)
21041038.636121002.68
Including: Investment income on affiliated company and
joint venture 7635137.26 15050230.24
The termination of income recognition for financial
assets measured by amortized cost -30503769.06 -21839275.77
Exchange income (Loss is listed with “-”)
Net exposure hedging income (Loss is listed with “-”)
Income from change of fair value (Loss is listed with “-”)
-11228505.02-63928733.56
Loss of credit impairment (Loss is listed with “-”)
-1448976.31-93458661.22
Losses of devaluation of asset (Loss is listed with “-”)
-48615603.79-19904174.33
Income from assets disposal (Loss is listed with “-”)
464104.041379107.45
III. Operating profit (Loss is listed with “-”)
616582416.27513896264.24
Add: Non-operating income
7037132.3513003292.01
Less: Non-operating expense
6364902.623477731.10
IV. Total profit (Loss is listed with “-”)
617254646.00523421825.15
Less: Income tax expense
73975762.364446696.74
V. Net profit (Net loss is listed with “-”)
543278883.64518975128.41
(i) Classify by business continuity
1. Net profit from continuing operations (net loss listed
with “-”) 543278883.64 518975128.41
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
530440364.03498774154.38
2.Minority shareholders’ gains and losses
12838519.6120200974.03
VI. Net after-tax of other comprehensive income
149851.211562287.57
15CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Net after-tax of other comprehensive income
attributable to owners of parent company 155402.93 1309907.03
(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 155402.93 1309907.03
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 155402.93 1309907.03
7.Other
Net after-tax of other comprehensive income attributable
to minority shareholders -5551.72 252380.54
VII. Total comprehensive income
543428734.85520537415.98
Total comprehensive income attributable to owners of
parent Company 530595766.96 500084061.41
Total comprehensive income attributable to minority
shareholders 12832967.89 20453354.57
VIII. Earnings per share:
(i) Basic earnings per share
0.51500.4843
(ii) Diluted earnings per share
0.51500.4843
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
16CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
3. Consolidated Cash Flow Statement Between the Beginning of the Year and End of the Report Period
In RMB
Item Current period Last period
I. Cash flows arising from operating activities:
Cash received from selling commodities and providing labor
services 23085624738.80 19690794267.32
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
878299622.69545575086.82
Other cash received concerning operating activities
55706450.5073343301.56
Subtotal of cash inflow arising from operating activities
24019630811.9920309712655.70
Cash paid for purchasing commodities and receiving labor
service 18821837573.14 15509311028.48
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
1542674566.911443348831.94
Taxes paid
294992410.27402056677.82
Other cash paid concerning operating activities
614698458.22548729081.61
Subtotal of cash outflow arising from operating activities
21274203008.5417903445619.85
Net cash flows arising from operating activities
2745427803.452406267035.85
II. Cash flows arising from investing activities:
17CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Cash received from recovering investment
7438000000.00630000000.00
Cash received from investment income
45916313.8834088250.87
Net cash received from disposal of fixed intangible and other
long-term assets 670588.40 4027612.46
Net cash received from disposal of subsidiaries and other
units
Other cash received concerning investing activities
145223228.07135312830.48
Subtotal of cash inflow from investing activities
7629810130.35803428693.81
Cash paid for purchasing fixed intangible and other long-
term assets 223226696.20 177289681.51
Cash paid for investment
9870000000.001427333334.00
Net increase of mortgaged loans
Net cash received from subsidiaries and other units obtained
Other cash paid concerning investing activities
10004887.5273130700.88
Subtotal of cash outflow from investing activities
10103231583.721677753716.39
Net cash flows arising from investing activities
-2473421453.37-874325022.58
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
1798005348.241135721085.04
Other cash received concerning financing activities
59024900.30250002913.48
Subtotal of cash inflow from financing activities
1857030248.541385723998.52
Cash paid for settling debts
1941925085.56753250888.06
Cash paid for dividend and profit distributing or interest
paying 331222527.04 126145172.10
Including: Dividend and profit of minority shareholder paid
by subsidiaries 5083093.40 16677010.63
Other cash paid concerning financing activities
108540613.31107503081.30
Subtotal of cash outflow from financing activities
2381688225.91986899141.46
Net cash flows arising from financing activities
-524657977.37398824857.06
IV. Influence on cash and cash equivalents due to fluctuation
in exchange rate 19235492.91 1594491.69
V. Net increase of cash and cash equivalents
-233416134.381932361362.02
Add: Balance of cash and cash equivalents at the period-
begin 8391128635.87 6113222069.76
VI. Balance of cash and cash equivalents at the period-end
8157712501.498045583431.78
18CHANGHONG MEILING CO. LTD.THE Third QUARTERLY REPORT OF 2024
Legal Representative: Wu Dinggang
Person in charge of accounting works: Pang Haitao
Person in charge of accounting institute: Yang Jun（ii）The information of the adjusting items related to the financial statements at the beginning of
the year of first implementation due to the first implementation of new accounting standards from
2024 Adjustment description
□Applicable □Not applicable
(iii) Auditors 'Report
Is the Third Quarterly Report be audited
□ Yes √No
The Third Quarterly report is not audited.The Board of Directors of Changhong Meiling Co. Ltd.October 232024
19
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