CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
Stock Code: 000521 200521 Short Form of the Stock: Changhong Meiling Hongmeiling B
Announcement No.: 2026-029
Changhong Meiling Co. Ltd.2026 First Quarter Report
The Company and all members of the Board of Directors hereby confirm that the content of
this information disclosure is true accurate complete and free from fictitious statements
misleading statements or important omissions.Important Notice:
Does any director or senior executive has objections to the content of the quarterly report or is
unable to guarantee its truthfulness accuracy and completeness
□ Yes √ No
1. Board of directors all directors and senior executives of Changhong Meiling Co. Ltd.
(hereinafter referred to as the Company) hereby confirm that there are no any fictitious statements
misleading statements or important omissions carried in this report and shall take all
responsibilities individual and/or joint for the reality accuracy and completion of the whole
contents.
2. Mr. Li Xiaodong Chairman of the Company Mr. Yang Bing person in charge of accounting
work and Mr. Hu Xiangfei person in charge of accounting organ (accountant in charge) hereby
confirm that the financial information of the Quarterly Report is authentic accurate and complete.
3. Has the financial and accounting report for the first quarter been audited
□ Yes √ No
I. Major Financial Data
(I) Main accounting data and financial indexes
Does it have retroactive adjustment or re-statement on previous accounting data
□ Yes √ No
1CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
Change compared to the same
Reporting period Corresponding prior period
period of last year (%)
Operating revenue (RMB) 7322896084.98 7360074545.63 -0.51%
Net profit attributable to
shareholders of the listed 70245592.67 181668589.37 -61.33%
company (RMB)
Net profit attributable to
shareholders of the listed
company after deducting non- 60676782.34 173774809.05 -65.08%
recurring gains and losses
(RMB)
Net cash flows generated
from operating activities -854637431.62 -1285257080.53 33.50%
(RMB)
Basic earnings per share
0.06910.1764-60.83%
(RMB/share)
Diluted earnings per share
0.06910.1764-60.83%
(RMB/share)
Weighted average return on Decrease by 1.65 percentage
1.29%2.94%
net assets points
Change compared to end of
End of the reporting period End of last year
last year (%)
Total assets (RMB) 23220391491.36 22302792548.16 4.11%
Equity attributable to
shareholders of the listed 6105523912.60 6083548865.34 0.36%
company (RMB)
(II) Items and amounts of non-recurring gains and losses
√ Applicable □ Not applicable
Unit: RMB
Items Amount in the reporting period Description
Gains or losses on disposal of non-current assets
(including the reversal of previously recognized asset -28114.29 ——
impairment provisions)
Government grants recognized in profit or loss for the
current period (excluding those closely related to the
Company’s normal operations in compliance with
11597591.87——
national policies enjoyed according to fixed standards
and having a sustained impact on the Company’s profit or
loss)
Gains or losses from fair value changes of financial assets
and financial liabilities held by non-financial enterprises
and gains or losses from disposal of such assets and 1617165.33 ——
liabilities other than effective hedging activities related
to the Company’s normal operations
Other non-operating income and expenses other than the
654392.98——
above items
Less: impact on income tax 3107140.98 ——
Effect of minority interests (after tax) 1165084.58 ——
Total 9568810.33 ——
2CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
Details of other gains/losses items that meets the definition of non-recurring gains and losses
□ Applicable √ Not applicable
There are no other gains/losses items that meet the definition of non-recurring gains and losses in
the Company.Explain the items defined as recurring gains and losses according to the lists of non-recurring gains
and losses in Q&A Announcement No.1 on Information Disclosure for Companies Offering Their
Securities to the Public --- Non-recurring Gains and Losses
□ Applicable √ Not applicable
There are no items defined as recurring profit (gain)/loss according to the lists of non-recurring
gains and losses in Q&A Announcement No.1 on Information Disclosure for Companies Offering
Their Securities to the Public --- Non-recurring Gains and Losses.(III) Analysis of changes in main accounting data and financial indexes
√ Applicable □ Not applicable
1. Analysis of changes in balance sheet items
Balance at end of
Report item Ending balance Change ratio Reason for change
previous year
Mainly due to the purchase of
Trading financial assets 1360006045.59 —— —— wealth management products in the
current period
Mainly due to an increase in sales
Accounts receivable 3312303034.47 2014944491.33 64.39%
compared to the previous period
Mainly due to changes in
Other Non-current Assets 17920119.15 26856492.34 -33.27%
prepayments in the current period
Derivative financial Mainly due to exchange rate
69362608.9138804849.5578.75%
liabilities fluctuations in the current period
Mainly due to changes in advances
Contract liabilities 441379666.31 871792341.16 -49.37% from customers in the current
period
Mainly due to changes in value-
Taxes payable 88690013.29 63147720.26 40.45% added tax and additional taxes in
the current period
Mainly due to changes in relevant
taxes arising from changes in
Other current liabilities 21706579.53 54001977.67 -59.80%
advances from customers in the
current period
Mainly due to ongoing stock
Treasury shares 142219287.34 86960746.82 63.54%
repurchases in the current period
2. Analysis of changes in income statement items
Corresponding prior
Report item Current period amount Change Ratio Reason for change
period amount
Mainly due to exchange rate
Financial Expenses -13582016.45 -7929626.86 -71.28%
fluctuations in the current period
3CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
Mainly due to changes in the
Other Income 22360871.79 36739447.51 -39.14% VAT additional deduction in the
current period
Mainly due to exchange rate
Investment income 25710006.12 -7636637.23 436.67%
fluctuations in the current period
Income from fair Mainly due to exchange rate
-8399712.5847529054.02-117.67%
value changes fluctuations in the current period
Mainly due to changes in
Credit Impairment provisions for bad debt losses on
-10741549.30-26670633.00-59.73%
Losses accounts receivable in the current
period
Non-operating Mainly due to changes in
593735.23130434.82355.20%
Expenses donations in the current period
Mainly due to changes in profit in
Income tax expenses 4367148.47 22938798.96 -80.96%
the current period
3. Analysis of changes in cash flow statement items
Current period Corresponding prior
Report item Change Ratio Reason for change
amount period amount
Mainly due to changes in tax
Tax refunds received 290698370.42 444838571.60 -34.65% refunds received in the current
period
Other Cash Received Mainly due to changes in
Relating to Operating 31268611.29 18889677.59 65.53% government grants received in
Activities the current period
Mainly due to changes in
Cash paid for various taxes 61801673.79 148508468.23 -58.39% value-added tax and additional
taxes paid in the current period
Mainly due to the changes
Cash received from arising from the maturity of
7085000000.004684238472.0051.25%
investment recovery wealth management products
in the current period
Mainly due to changes in
Cash received from
30768510.96 5317616.45 478.61% returns of wealth management
investment income
products in the current period
Other Cash Received Mainly due to exchange rate
Relating to Investing 59238883.52 41708691.28 42.03% fluctuations in the current
Activities period
Mainly due to the changes
arising from the purchase of
Cash paid for investments 8264084848.48 6170145888.89 33.94%
wealth management products
in the current period
Mainly due to exchange rate
Other Cash Paid Relating
6001957.81 63622201.24 -90.57% fluctuations in the current
to Investing Activities
period
Mainly due to changes in
Cash received from
355113600.00 1160618410.98 -69.40% borrowings in the current
borrowings
period
Mainly due to changes arising
Cash paid for repayment of from the repayment of
227635811.06790638439.12-71.21%
debts borrowings in the current
period
Mainly due to changes in bank
Other Cash Paid Relating
349084812.46 143460695.94 143.33% acceptance guarantees and the
to Financing Activities
addition of stock repurchase
4CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
business in the current period
Mainly due to exchange rate
Effect of exchange rate
-12509417.62 2288462.86 -646.63% fluctuations in the current
changes on cash
period
II. Use of Proceeds
□ Applicable √ Not applicable
The Company had no use of proceeds during the reporting period.III. Shareholder Information
(I) Total Number of ordinary shareholders and preference shareholders with restored voting
rights and shareholdings of the top 10 shareholders
Unit: Shares
Total number of preferred shareholders
Total number of ordinary shareholders at the end of the
63950 with restored voting rights at the end of the 0
reporting period
reporting period (if any)
Shareholdings of the top 10 shareholders (excluding shares lent through securities lending and borrowing)
Numb Pledge marking or freezing status
er of
shares
Shareho
subjec
Nature of lding Number of
Name of shareholder t to
shareholders Ratio shares held Status of shares Number
restric
(%)
ted
condit
ions
Sichuan Changhong Electric Co. State-owned legal
24.12%2484577240————
Ltd. person
CHANGHONG (HK) TRADING Overseas legal
2.63%270777970————
LIMITED person
Hong Kong Securities Clearing Overseas legal
2.54%261374510————
Company Limited person
Hefei Industry Investment State-owned legal
1.83%188648960————
Holding (Group) Co. Ltd. person
Overseas natural
CAO SHENGCHUN 1.43% 14766086 0 —— ——
person
Domestic natural
Wang Jialing 1.18% 12200018 0 —— ——
person
Domestic natural
Li Tao 0.83% 8500000 0 —— ——
person
Industrial and Commercial Bank
of China Limited – Taikang Domestic non-
Strategy Preferred Flexible state-owned legal 0.75% 7687900 0 —— ——
Allocation Hybrid Securities person
Investment Fund
China Merchants Bank Co. Ltd. Domestic non-
– Taikang Quality Life Hybrid state-owned legal 0.74% 7657400 0 —— ——
Securities Investment Fund person
Bank of China Limited – HuaBao Domestic non-
0.65%67006000————
S&P China A-Share Dividend state-owned legal
5CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
Opportunity ETF person
Shareholding of the top 10 shareholders with unrestricted shares (excluding shares lent through securities lending and senior
management lock-up shares)
Number of shares not subject to Type of shares
Name of shareholder
restricted conditions Type of shares Number
RMB ordinary
Sichuan Changhong Electric Co. Ltd. 248457724 248457724
shares
Domestically
CHANGHONG (HK) TRADING LIMITED 27077797 listed foreign 27077797
shares
RMB ordinary
Hong Kong Securities Clearing Company Limited 26137451 26137451
shares
RMB ordinary
Hefei Industry Investment Holding (Group) Co. Ltd. 18864896 18864896
shares
Domestically
CAO SHENGCHUN 14766086 listed foreign 14766086
shares
RMB ordinary
Wang Jialing 12200018 12200018
shares
RMB ordinary
Li Tao 8500000 8500000
shares
Industrial and Commercial Bank of China Limited – RMB ordinary
Taikang Strategy Preferred Flexible Allocation Hybrid 7687900 shares 7687900
Securities Investment Fund
China Merchants Bank Co. Ltd. – Taikang Quality RMB ordinary
76574007657400
Life Hybrid Securities Investment Fund shares
Bank of China Limited – HuaBao S&P China A-Share RMB ordinary
67006006700600
Dividend Opportunity ETF shares
Among the above shareholders CHANGHONG (HK)TRADING LIMITED (hereinafter referred to as “Hong KongChanghong”) is a wholly-owned subsidiary of Sichuan
Changhong Electric Co. Ltd. In addition to directly holding
the Company’s B shares Hong Kong Changhong also holds
6296913 B shares of the Company through Phillip Securities
Explanation of related-party relationships or acting-in-concert (Hong Kong) Limited. Sichuan Changhong and Hong Kong
arrangements among the above shareholders Changhong have a related party relationship and constitute
acting-in-concert parties. The Company is unaware of whether
there are any related party relationships among other
shareholders and also unaware whether other shareholders
constitute acting-in-concert parties as defined in the
Administrative Measures for the Takeover of Listed
Companies.Explanation of participation by the top 10 shareholders in margin
N/A
financing and securities lending (if any)
Note: As of March 31 2026 the Company had cumulatively repurchased 21201570 A shares through a dedicated securities
account for repurchase via centralized bidding representing 2.0586% of the Company’s total share capital.Participation of shareholders holding more than 5% the top 10 shareholders and the top 10
unrestricted circulating shareholders in securities lending under the margin trading and securities
lending scheme
□ Applicable √ Not applicable
Changes in the top 10 shareholders and top 10 unrestricted circulating shareholders’ holdings
compared to the previous period due to lending/return under the margin trading and securities
lending scheme
6CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
□ Applicable √ Not applicable
(II) Total number of preference shareholders of the Company and shareholdings of the top 10
preference shareholders
□ Applicable √ Not applicable
IV. Other Significant Matters
√ Applicable □ Not applicable
Inquiry index for websites for
Important Events Summary Disclosure date
disclosure of interim reports
Upon the deliberation and approval of the Company’s board of
directors and shareholders’ meeting Mr. Li Xiaodong is elected
Juchao Website:
as an independent non-executive director of the 11th board of
January 27 2026 http://www.cninfo.com.cn
directors of the Company. His term of office shall commence on
February 12 2026 (Announcements No. 2026-003
the date of deliberation and approval at the first extraordinary
No. 2026-004 No. 2026-008)
general meeting of shareholders in 2026 and expire on the date of
the completion of the term of the 11th board of directors.Upon the deliberation and approval of the board of directors of
the Company Mr. Li Xiaodong is elected as Chairman of the 11th
board of directors of the Company. To further standardize the
corporate governance structure and ensure the rationality and
completeness of the composition of members of the special
Juchao Website:
committees under the board of directors the board has approved
http://www.cninfo.com.cn
the appointment of Mr. Li Xiaodong as Chairman of the Strategy February 12 2026
(Announcements No. 2026-009
Committee member of the Audit Committee member of the
No. 2026-010)
Nomination Committee and Chairman of the ESG Management
Committee of the 11th board of directors. His term of office shall
commence on the date of deliberation and approval at the 27th
meeting of the 11th board of directors and expire on the date of
the completion of the term of the 11th board of directors.On July 15 2025 the Company conducted its first A-share
repurchase through a dedicated stock repurchase securities
account via centralized bidding. As of March 31 2026 the January 6 2026 Juchao Website:
Company has cumulatively repurchased 21201570 A-shares February 4 2026 http://www.cninfo.com.cn
accounting for 2.0586% of the Company’s total share capital. The March 4 2026 (Announcements No. 2026-001
highest transaction price of this A-share repurchase was 7.45 March 28 2026 No. 2026-006 No. 2026-011
RMB/share the lowest was 5.86 RMB/share with a total April 2 2026 No. 2026-012 and No. 2026-013)
transaction amount of RMB 142205019.88 (excluding
transaction fees).V. Quarterly Financial Statements
(I) Financial Statements
1. Consolidated balance sheet
Prepared by: Changhong Meiling Co. Ltd.Unit: RMB
Items Ending balance Beginning balance
Current Assets:
Cash and cash equivalents 8338028742.77 10186661869.94
Settlement reserve
7CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
Funds lent
Trading financial assets 1360006045.59
Derivative financial assets 78993785.90 61841784.71
Notes receivable
Accounts receivable 3312303034.47 2014944491.33
Accounts receivable financing 418786586.01 409930586.39
Prepayments 85436681.06 92667517.48
Premiums receivable
Reinsurance receivables
Reinsurance contract reserves
receivable
Other receivables 31202190.23 41558190.51
Including: Interest receivable
Dividends receivable
Financial assets purchased under
resale agreements
Inventory 2289976556.03 2079744997.60
Including: Data resources
Contract assets 667445.88 725425.50
Assets held for sale
Non-current Assets Due within One
601918273.62659796120.71
Year
Other Current Assets 478041097.74 372910923.88
Total current assets 16995360439.30 15920781908.05
Non-Current Assets:
Loans and advances
Debt Investments 1445816130.76 1661029964.49
Other debt investments
Long-term receivables
Long-term Equity Investments 88672723.81 88148806.34
Other equity instrument investments
Other Non-current Financial Assets 661832269.76 661832269.76
Investment Properties 62610414.01 63387835.97
Fixed assets 2294227563.60 2276129362.07
Construction in progress 161070229.32 127282346.90
Productive biological assets
Oil and gas assets
Right-of-use assets 126604414.61 132921569.77
intangible assets 1013205683.81 1031493131.01
Including: Data resources
Development Expenditures 194663558.98 158231792.93
Including: Data resources
Goodwill
Long-term Deferred Expenses 28896846.42 26427371.81
Deferred tax assets 129511097.83 128269696.72
Other Non-current Assets 17920119.15 26856492.34
Total non-current assets 6225031052.06 6382010640.11
Total assets 23220391491.36 22302792548.16
Current Liabilities:
Short-term borrowings 913527253.83 810099931.94
Borrowings from central bank
Funds borrowed
Trading financial liabilities
Derivative financial liabilities 69362608.91 38804849.55
Notes payable 7055721694.60 7004658556.59
Accounts payable 6145464523.71 4934324141.76
8CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
Advances Received 914368.71 20340.81
Contract liabilities 441379666.31 871792341.16
Financial assets sold under repurchase
agreements
Deposits and interbank placements
Securities sold for clients
Securities underwriting payables
Employee Benefits Payable 272422783.40 382124656.03
Taxes Payable 88690013.29 63147720.26
Other payables 1167157001.72 1154695090.66
Including: Interest payable
Dividends payable 7492505.08 7492505.08
Fees and commissions payable
Reinsurance payables
Liabilities held for sale
Non-current Liabilities Due within
46613658.2846005202.83
One Year
Other current liabilities 21706579.53 54001977.67
Total current liabilities 16222960152.29 15359674809.26
Non-Current Liabilities:
Insurance contract reserves
Long-term Borrowings 135074250.00 111178667.25
Bonds payable
Including: Preferred shares
Perpetual bonds
Lease liabilities 107816181.66 114402511.69
Long-term Payables 64854.43 117944.72
Long-term Employee Benefits Payable 8687907.38 9021087.36
Estimated liabilities 34783241.30 33463947.66
Deferred income 148932005.76 139056707.76
Deferred tax liabilities 44544875.18 44604488.14
Other non-current liabilities
Total non-current liabilities 479903315.71 451845354.58
Total Liabilities 16702863468.00 15811520163.84
Owners’ equity:
Share capital 1029923715.00 1029923715.00
Other equity instruments
Including: Preferred shares
Perpetual bonds
Capital Reserves 2749778298.08 2749778298.08
Less: Treasury shares 142219287.34 86960746.82
Other Comprehensive Income -24633748.57 -23780049.29
Special Reserve 46232976.53 38391282.14
Surplus Reserves 551363051.46 551363051.46
General risk reserves
Undistributed Profits 1895078907.44 1824833314.77
Total equity attributable to owners of the
6105523912.606083548865.34
parent company
Minority Interests 412004110.76 407723518.98
Total owners’ equity 6517528023.36 6491272384.32
Total liabilities and owners’ equity 23220391491.36 22302792548.16
Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu
Xiangfei
9CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
2. Consolidated income statement
Unit: RMB
Amounts incurred during
Items Amount in prior period
the period
I. Total operating revenue 7322896084.98 7360074545.63
Including: Operating revenue 7322896084.98 7360074545.63
Interest income
Earned premiums
Fee and commission income
II. Total operating costs 7237028511.70 7153061808.06
Including: Operating cost 6626194260.59 6489256428.27
Interest expense
Fee and commission expense
Surrender payments
Net claims expense
Net amount of withdrawal of insurance reserve
Policyholder dividends paid
Reinsurance expenses
Taxes and Surcharges 30106691.60 26909661.98
Selling Expenses 361488537.07 397393048.13
Administrative Expenses 71321520.11 96394611.33
Research and Development Expenses 161499518.78 151037685.21
Financial Expenses -13582016.45 -7929626.86
Including: Interest expenses 7447200.71 5315614.00
Interest income 25460537.43 36935388.99
Add: Other Income 22360871.79 36739447.51
Investment income (losses indicated with “–”) 25710006.12 -7636637.23
Including: Share of profit of associates and joint
523917.472852607.47
ventures
Gains on derecognition of financial assets
-956440.77-2043924.19
measured at amortized cost
Foreign exchange gains (losses indicated with “–”)
Net hedging gains (losses indicated with “–”)
Gains from changes in fair value (losses indicated with “–”) -8399712.58 47529054.02
Credit impairment losses (losses indicated with “–”) -10741549.30 -26670633.00
Asset impairment losses (losses indicated with “–”) -36767478.53 -48763745.14
Gains on disposal of assets (losses indicated with “–”)
III. Operating profit (losses indicated with “–”) 78029710.78 208210223.73
Add: Non-operating Income 1220013.92 1004640.48
Less: Non-operating Expenses 593735.23 130434.82
IV. Total profit (total losses indicated with “–”) 78655989.47 209084429.39
Less: Income tax expenses 4367148.47 22938798.96
V. Net profit (net losses indicated with “–”) 74288841.00 186145630.43
(I) Classified by continuity of operations
1. Net profit from continuing operations (net losses indicated
74288841.00186145630.43
with “–”)
2. Net profit from discontinued operations (net losses
indicated with “–”)
10CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
(II) Classified by ownership
1. Net profit attributable to owners of the parent company 70245592.67 181668589.37
2. Profit or loss attributable to minority shareholders 4043248.33 4477041.06
VI. Net of tax of other comprehensive income -894167.61 -1042065.97
Other comprehensive income net of tax attributable to owners
-853699.28-1042065.97
of the parent company
(I) Other comprehensive income not reclassifiable to profit or
loss
1. Remeasurements of defined benefit plans
2. Other comprehensive income under the equity method
not reclassifiable to profit or loss
3. Changes in fair value of other equity instrument
investments
4. Changes in fair value arising from the Company’s own
credit risk
5. Others
(II) Other comprehensive income to be reclassified into profit
-853699.28-1042065.97
or loss
1. Other comprehensive income under the equity method
reclassifiable to profit or loss
2. Changes in fair value of other debt investments
3. Amounts reclassified to other comprehensive income
upon reclassification of financial assets
4. Allowances for credit impairment of other debt
investments
5. Cash flow hedge reserves
6. Foreign currency financial statement translation
-853699.28-1042065.97
difference
7. Others
Other comprehensive income net of tax attributable to minority
-40468.33
shareholders
VII. Total Comprehensive Income 73394673.39 185103564.46
Total comprehensive income attributable to owners of the parent
69391893.39180626523.40
company
Total comprehensive income attributable to minority
4002780.004477041.06
shareholders
VIII. Earnings per share:
(I) Basic earnings per share 0.0691 0.1764
(II) Diluted earnings per share 0.0691 0.1764
During the period the net profit realized by the acquired entity under the common control business combination
before the combination was RMB 0 and in the previous period it was RMB 0.Legal representative: Li Xiaodong Head of accounting work: Yang Bing Head of accounting department: Hu
Xiangfei
3. Consolidated cash flow statement
Unit: RMB
Items Amounts incurred during the period Amount in prior period
I. Cash flows from operating activities:
Cash received from sale of goods and
6186088824.206854635238.76
provision of services
Net increase in customer deposits and
interbank placements
Net increase in borrowings from the
11CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
central bank
Net increase in funds borrowed from
other financial institutions
Cash received from original insurance
premiums
Net cash received from reinsurance
business
Net increase in policyholder deposits
and investment funds
Cash received for interest fees and
commissions
Net increase in borrowed funds
Net increase in repurchase business
funds
Net cash received from agency
securities transactions
Tax refunds received 290698370.42 444838571.60
Other Cash Received Relating to
31268611.2918889677.59
Operating Activities
Subtotal of Cash Inflows from Operating
6508055805.917318363487.95
Activities
Cash paid for purchase of goods and
6450005040.857558032416.67
services received
Net increase in loans and advances to
customers
Net increase in placements with the
central bank and other banks
Cash paid for claims under original
insurance contracts
Net increase in funds lent
Cash paid for interest fees and
commissions
Cash paid for policyholder dividends
Cash paid to and on behalf of
606217407.26647300229.28
employees
Cash paid for various taxes 61801673.79 148508468.23
Other Cash Paid Relating to Operating
244669115.63249779454.30
Activities
Subtotal of Cash Outflows from
7362693237.538603620568.48
Operating Activities
Net cash flows generated from operating
-854637431.62-1285257080.53
activities
II. Cash flows from investing activities:
Cash received from investment
7085000000.004684238472.00
recovery
Cash received from investment
30768510.965317616.45
income
Net cash received from disposal of
fixed assets intangible assets and other 229333.21 11422.55
long-term assets
Net cash received from disposal of
subsidiaries and other business units
Other Cash Received Relating to
59238883.5241708691.28
Investing Activities
12CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
Subtotal of Cash Inflows from Investing
7175236727.694731276202.28
Activities
Cash paid for acquisition and
construction of fixed assets intangible 88146123.54 100171495.72
assets and other long-term assets
Cash paid for investments 8264084848.48 6170145888.89
Net increase in pledged loans
Net cash paid to acquire subsidiaries
and other business units
Other Cash Paid Relating to Investing
6001957.8163622201.24
Activities
Subtotal of Cash Outflows from
8358232929.836333939585.85
Investing Activities
Net Cash Flows from Investing
-1182996202.14-1602663383.57
Activities
III. Cash flows from financing activities:
Cash received from capital
contributions
Including: Cash received from
minority shareholders’ investment in
subsidiaries
Cash received from borrowings 355113600.00 1160618410.98
Other Cash Received Relating to
337702974.24350850007.60
Financing Activities
Subtotal of Cash Inflows from Financing
692816574.241511468418.58
Activities
Cash paid for repayment of debts 227635811.06 790638439.12
Cash paid for dividends profit
4698247.686644576.90
distribution or interest
Including: Dividends and profit paid
to minority shareholders by subsidiaries
Other Cash Paid Relating to Financing
349084812.46143460695.94
Activities
Subtotal of Cash Outflows from
581418871.20940743711.96
Financing Activities
Net Cash Flows from Financing
111397703.04570724706.62
Activities
IV. Effect of exchange rate changes on
-12509417.622288462.86
cash and cash equivalents
V. Net increase in cash and cash
-1938745348.34-2314907294.62
equivalents
Add: Cash and cash equivalents at
9759861189.089976098734.11
beginning of period
VI. Ending balance of cash and cash
7821115840.747661191439.49
equivalents
(II) Adjustments to relevant items in the opening financial statements for the year of first-
time adoption of new accounting standards effective from 2026
□ Applicable √ Not applicable
(III) Audit Report
Has the financial and accounting report for the first quarter been audited
13CHANGHONG MEILING CO. LTD. 2026 First Quarter Report
□ Yes √ No
The Company’s financial and accounting report for the first quarter has not been audited.Board of Directors of Changhong Meiling Co. Ltd.April 22 2026
14
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